Brighthouse Funds Trust I

Schedule of Investments

September 30, 2019

Brighthouse Funds Trust I

Table of Contents

Schedule of Investments as of September 30, 2019
AB Global Dynamic Allocation Portfolio	BHFTI-1
AB International Bond Portfolio	BHFTI-28
American Funds Balanced Allocation Portfolio	BHFTI-41
American Funds Growth Allocation Portfolio	BHFTI-42
American Funds Growth Portfolio	BHFTI-43
American Funds Moderate Allocation Portfolio	BHFTI-44
AQR Global Risk Balanced Portfolio	BHFTI-45
BlackRock Global Tactical Strategies Portfolio	BHFTI-52
BlackRock High Yield Portfolio	BHFTI-57
Brighthouse Asset Allocation 100 Portfolio	BHFTI-80
Brighthouse Balanced Plus Portfolio	BHFTI-81
Brighthouse Small Cap Value Portfolio	BHFTI-85
Brighthouse/Aberdeen Emerging Markets Equity Portfolio	BHFTI-91
Brighthouse/Artisan International Portfolio	BHFTI-94
Brighthouse/Eaton Vance Floating Rate Portfolio	BHFTI-97
Brighthouse/Franklin Low Duration Total Return Portfolio	BHFTI-112
Brighthouse/Templeton International Bond Portfolio	BHFTI-130
Brighthouse/Wellington Large Cap Research Portfolio	BHFTI-138
Clarion Global Real Estate Portfolio	BHFTI-144
ClearBridge Aggressive Growth Portfolio	BHFTI-148
Harris Oakmark International Portfolio	BHFTI-152
Invesco Balanced-Risk Allocation Portfolio	BHFTI-156
Invesco Comstock Portfolio	BHFTI-160
Invesco Global Equity Portfolio	BHFTI-165
Invesco Small Cap Growth Portfolio	BHFTI-169
JPMorgan Core Bond Portfolio	BHFTI-174
JPMorgan Global Active Allocation Portfolio	BHFTI-194
JPMorgan Small Cap Value Portfolio	BHFTI-228
Loomis Sayles Global Allocation Portfolio	BHFTI-235
MetLife Multi-Index Targeted Risk Portfolio	BHFTI-246
MFS® Research International Portfolio	BHFTI-248
Morgan Stanley Discovery Portfolio	BHFTI-252
PanAgora Global Diversified Risk Portfolio	BHFTI-258
PIMCO Inflation Protected Bond Portfolio	BHFTI-274
PIMCO Total Return Portfolio	BHFTI-290
Schroders Global Multi-Asset Portfolio	BHFTI-315
SSGA Emerging Markets Enhanced Index Portfolio	BHFTI-334
SSGA Growth and Income ETF Portfolio	BHFTI-341
SSGA Growth ETF Portfolio	BHFTI-344
T. Rowe Price Large Cap Value Portfolio	BHFTI-347
T. Rowe Price Mid Cap Growth Portfolio	BHFTI-352
TCW Core Fixed Income Portfolio	BHFTI-359
Victory Sycamore Mid Cap Value Portfolio	BHFTI-369
Wells Capital Management Mid Cap Value Portfolio	BHFTI-373
Western Asset Management Government Income Portfolio	BHFTI-377

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 September 30, 2019 (Unaudited)

Common Stocks—58.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.2%
Airbus SE		49,847	$	6,481,867
Arconic, Inc.		20,650		536,900
BAE Systems plc		273,647		1,917,468
Boeing Co. (The)		25,425		9,673,450
Dassault Aviation S.A.		216		305,485
Elbit Systems, Ltd.		2,024		335,470
General Dynamics Corp.		13,430		2,454,064
Huntington Ingalls Industries, Inc.		2,042		432,475
L3Harris Technologies, Inc.		10,610		2,213,670
Leonardo S.p.A.		34,220		402,897
Lockheed Martin Corp.		11,945		4,659,267
Meggitt plc		66,505		519,667
MTU Aero Engines AG		4,452		1,182,928
Northrop Grumman Corp.		8,325		3,120,127
Raytheon Co.		13,715		2,690,746
Rolls-Royce Holdings plc (a)		143,486		1,397,398
Safran S.A.		28,019		4,416,954
Singapore Technologies Engineering, Ltd.		132,000		366,836
Textron, Inc.		11,680		571,853
Thales S.A.		9,122		1,049,868
TransDigm Group, Inc.		2,402		1,250,649
United Technologies Corp.		39,052		5,331,379
				51,311,418
Air Freight & Logistics—0.3%
Bollore S.A.		74,253		307,919
C.H. Robinson Worldwide, Inc. (b)		6,560		556,157
Deutsche Post AG		84,682		2,828,570
DSV A/S		18,989		1,808,756
Expeditors International of Washington, Inc.		8,205		609,549
FedEx Corp.		11,710		1,704,625
SG Holdings Co., Ltd.		12,335		301,994
United Parcel Service, Inc. - Class B		33,400		4,001,988
Yamato Holdings Co., Ltd.		26,410		399,365
				12,518,923
Airlines—0.1%
Alaska Air Group, Inc.		5,903		383,164
American Airlines Group, Inc. (b)		19,621		529,178
ANA Holdings, Inc.		9,872		331,990
Delta Air Lines, Inc.		29,951		1,725,178
Deutsche Lufthansa AG		20,347		323,351
easyJet plc		13,434		189,922
Japan Airlines Co., Ltd.		9,894		294,072
Singapore Airlines, Ltd.		45,600		301,880
Southwest Airlines Co.		24,285		1,311,633
United Airlines Holdings, Inc. (a)		10,991		971,714
				6,362,082
Auto Components—0.3%
Aisin Seiki Co., Ltd.		13,874		438,806
Aptiv plc		12,621		1,103,328
BorgWarner, Inc.		9,940		364,599
Bridgestone Corp.		48,894		1,901,295
Cie Generale des Etablissements Michelin		14,627		1,634,567
Auto Components—(Continued)
Continental AG		9,417		1,208,899
Denso Corp.		37,099		1,638,991
Faurecia S.A.		6,546		311,213
Koito Manufacturing Co., Ltd.		8,947		441,113
NGK Spark Plug Co., Ltd.		13,248		254,250
Nokian Renkaat Oyj		10,638		300,346
Pirelli & C S.p.A. (144A)		33,822		200,436
Stanley Electric Co., Ltd.		11,317		301,615
Sumitomo Electric Industries, Ltd.		64,567		824,628
Sumitomo Rubber Industries, Ltd.		14,457		172,435
Toyoda Gosei Co., Ltd.		5,496		110,766
Toyota Industries Corp.		12,553		724,545
Valeo S.A.		20,567		668,064
Yokohama Rubber Co., Ltd. (The)		10,035		202,079
				12,801,975
Automobiles—0.9%
Bayerische Motoren Werke AG		28,344		1,993,698
Daimler AG		77,847		3,866,729
Ferrari NV		10,457		1,614,992
Fiat Chrysler Automobiles NV		92,919		1,203,952
Ford Motor Co.		187,895		1,721,118
General Motors Co.		63,113		2,365,475
Harley-Davidson, Inc. (b)		7,775		279,667
Honda Motor Co., Ltd.		139,562		3,633,376
Isuzu Motors, Ltd.		47,209		523,923
Mazda Motor Corp.		48,677		435,402
Mitsubishi Motors Corp.		56,705		247,469
Nissan Motor Co., Ltd.		198,724		1,244,373
Peugeot S.A.		50,348		1,257,488
Renault S.A.		16,455		945,520
Subaru Corp.		52,677		1,489,051
Suzuki Motor Corp.		31,528		1,339,231
Toyota Motor Corp.		195,533		13,115,219
Volkswagen AG		2,779		477,650
Yamaha Motor Co., Ltd.		23,964		437,035
				38,191,368
Banks—4.2%
ABN AMRO Bank NV (144A)		36,211		638,473
AIB Group plc		68,854		204,845
Aozora Bank, Ltd.		10,209		256,205
Australia & New Zealand Banking Group, Ltd.		244,575		4,726,190
Banco Bilbao Vizcaya Argentaria S.A.		570,810		2,978,097
Banco de Sabadell S.A.		481,701		467,986
Banco Espirito Santo S.A. (a) (c) (d)		169,954		0
Banco Santander S.A.		1,389,946		5,667,627
Bank Hapoalim B.M. (a)		97,046		765,053
Bank Leumi Le-Israel B.M.		127,861		910,105
Bank of America Corp.		414,234		12,083,206
Bank of East Asia, Ltd. (The)		108,200		266,892
Bank of Ireland Group plc		83,118		330,349
Bank of Kyoto, Ltd. (The)		4,615		181,675
Bank of Queensland, Ltd.		33,973		227,713
Bankia S.A.		104,340		197,305
Bankinter S.A.		57,711		364,866

BHFTI-1

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Banks—(Continued)
Barclays plc		1,466,809	$	2,710,738
BB&T Corp.		37,045		1,977,092
Bendigo & Adelaide Bank, Ltd.		41,345		320,813
BNP Paribas S.A.		89,629		4,370,021
BOC Hong Kong Holdings, Ltd.		316,700		1,080,647
CaixaBank S.A.		307,227		808,057
Chiba Bank, Ltd. (The)		48,160		249,187
Citigroup, Inc.		117,471		8,114,897
Citizens Financial Group, Inc.		22,454		794,198
Comerica, Inc.		7,755		511,752
Commerzbank AG		85,767		497,737
Commonwealth Bank of Australia		151,543		8,292,449
Concordia Financial Group, Ltd.		90,890		350,594
Credit Agricole S.A.		98,153		1,193,515
Danske Bank A/S		57,524		800,828
DBS Group Holdings, Ltd.		153,600		2,768,414
DNB ASA		82,406		1,454,893
Erste Group Bank AG (a)		25,756		852,673
Fifth Third Bancorp		31,535		863,428
FinecoBank Banca Fineco S.p.A.		44,307		469,664
First Republic Bank		7,901		764,027
Fukuoka Financial Group, Inc.		14,726		280,066
Hang Seng Bank, Ltd.		65,500		1,417,082
HSBC Holdings plc		1,716,505		13,170,215
Huntington Bancshares, Inc.		51,055		728,555
ING Groep NV		333,159		3,492,383
Intesa Sanpaolo S.p.A.		1,274,077		3,024,663
Israel Discount Bank, Ltd. - Class A		99,646		438,337
Japan Post Bank Co., Ltd.		34,245		332,865
JPMorgan Chase & Co.		159,900		18,818,631
KBC Group NV		21,376		1,391,003
KeyCorp		49,720		887,005
Lloyds Banking Group plc		6,107,974		4,073,259
M&T Bank Corp.		6,795		1,073,406
Mebuki Financial Group, Inc.		75,700		187,350
Mediobanca S.p.A.		53,156		581,073
Mitsubishi UFJ Financial Group, Inc.		1,053,037		5,366,997
Mizrahi Tefahot Bank, Ltd.		12,073		300,110
Mizuho Financial Group, Inc.		2,065,060		3,175,106
National Australia Bank, Ltd.		237,766		4,783,625
Nordea Bank Abp		263,819		1,872,886
Oversea-Chinese Banking Corp., Ltd.		273,300		2,153,840
People’s United Financial, Inc. (b)		18,095		282,915
PNC Financial Services Group, Inc. (The)		22,135		3,102,442
Raiffeisen Bank International AG		12,729		295,874
Regions Financial Corp.		49,715		786,491
Resona Holdings, Inc.		179,062		771,218
Royal Bank of Scotland Group plc		412,575		1,054,138
Seven Bank, Ltd.		50,414		138,488
Shinsei Bank, Ltd.		13,141		192,176
Shizuoka Bank, Ltd. (The)		39,494		295,875
Skandinaviska Enskilda Banken AB - Class A		139,324		1,281,552
Societe Generale S.A.		65,704		1,802,602
Standard Chartered plc		240,804		2,024,455
Sumitomo Mitsui Financial Group, Inc.		113,807		3,909,039
Sumitomo Mitsui Trust Holdings, Inc.		28,404		1,029,571
SunTrust Banks, Inc.		21,600		1,486,080
Banks—(Continued)
SVB Financial Group (a)		2,625		548,494
Svenska Handelsbanken AB - A Shares		130,731		1,225,741
Swedbank AB - A Shares		77,525		1,116,890
U.S. Bancorp		73,035		4,041,757
UniCredit S.p.A.		171,824		2,029,926
United Overseas Bank, Ltd.		107,900		1,998,877
Wells Fargo & Co. (e)		203,710		10,275,132
Westpac Banking Corp.		295,132		5,911,396
Zions Bancorp N.A.		9,160		407,803
				183,069,600
Beverages—1.2%
Anheuser-Busch InBev S.A.		65,229		6,209,800
Asahi Group Holdings, Ltd.		31,049		1,537,205
Brown-Forman Corp. - Class B		7,917		497,029
Carlsberg A/S - Class B		9,158		1,354,996
Coca-Cola Amatil, Ltd.		42,852		308,350
Coca-Cola Bottlers Japan Holdings, Inc.		10,595		238,909
Coca-Cola Co. (The) (e)		184,210		10,028,392
Coca-Cola European Partners plc		20,301		1,125,690
Coca-Cola HBC AG (a)		17,150		560,263
Constellation Brands, Inc. - Class A		7,975		1,653,058
Davide Campari-Milano S.p.A.		49,719		449,568
Diageo plc		206,991		8,470,103
Heineken Holding NV		9,863		982,632
Heineken NV		22,190		2,399,509
Kirin Holdings Co., Ltd.		70,419		1,494,921
Molson Coors Brewing Co. - Class B		9,005		517,788
Monster Beverage Corp. (a)		19,140		1,111,268
PepsiCo, Inc.		67,925		9,312,517
Pernod-Ricard S.A.		18,178		3,236,049
Remy Cointreau S.A.		1,939		257,349
Suntory Beverage & Food, Ltd.		11,904		509,130
Treasury Wine Estates, Ltd.		61,521		772,192
				53,026,718
Biotechnology—0.8%
AbbVie, Inc.		72,283		5,473,269
Alexion Pharmaceuticals, Inc. (a)		10,700		1,047,958
Amgen, Inc.		30,669		5,934,758
BeiGene, Ltd. (ADR) (a)		3,062		374,972
Biogen, Inc. (a)		9,730		2,265,339
Celgene Corp. (a)		33,640		3,340,452
CSL, Ltd.		38,779		6,127,825
Genmab A/S (a)		5,265		1,070,171
Gilead Sciences, Inc.		62,143		3,938,623
Grifols S.A.		25,536		752,420
Incyte Corp. (a)		8,433		625,982
PeptiDream, Inc. (a)		7,969		380,285
Regeneron Pharmaceuticals, Inc. (a)		3,741		1,037,753
Vertex Pharmaceuticals, Inc. (a)		12,267		2,078,275
				34,448,082
Building Products—0.3%
A.O. Smith Corp. (b)		6,860		327,290
Allegion plc		4,501		466,529

BHFTI-2

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Building Products—(Continued)
Asahi Glass Co., Ltd.		15,576	$	486,021
Assa Abloy AB - Class B		85,803		1,911,423
Cie de St-Gobain		42,202		1,657,738
Daikin Industries, Ltd.		21,329		2,800,706
Fortune Brands Home & Security, Inc.		6,727		367,967
Geberit AG		3,171		1,513,988
Johnson Controls International plc (b)		44,384		1,948,014
Kingspan Group plc		13,126		643,483
LIXIL Group Corp.		22,518		395,956
Masco Corp.		14,675		611,654
TOTO, Ltd.		12,121		456,869
				13,587,638
Capital Markets—1.4%
3i Group plc		83,294		1,194,363
Affiliated Managers Group, Inc.		2,505		208,792
Ameriprise Financial, Inc.		6,715		987,777
Amundi S.A. (144A)		5,192		362,434
ASX, Ltd.		16,573		908,261
Bank of New York Mellon Corp. (The)		43,685		1,974,999
BlackRock, Inc.		5,910		2,633,732
Cboe Global Markets, Inc.		5,317		610,976
Charles Schwab Corp. (The)		57,745		2,415,473
CME Group, Inc.		17,185		3,631,878
Credit Suisse Group AG (a)		218,809		2,686,522
Daiwa Securities Group, Inc.		130,929		586,438
Deutsche Bank AG		168,081		1,259,095
Deutsche Boerse AG		16,266		2,542,716
E*Trade Financial Corp.		12,215		533,673
Franklin Resources, Inc.		14,241		410,995
Goldman Sachs Group, Inc. (The)		16,650		3,450,379
Hargreaves Lansdown plc		24,363		622,560
Hong Kong Exchanges and Clearing, Ltd.		101,700		3,001,895
Intercontinental Exchange, Inc.		27,380		2,526,353
Invesco, Ltd.		19,720		334,057
Investec plc		57,677		296,849
Japan Exchange Group, Inc.		43,619		690,199
Julius Baer Group, Ltd. (a)		19,160		849,935
London Stock Exchange Group plc		26,825		2,409,050
Macquarie Group, Ltd.		27,682		2,452,837
Magellan Financial Group, Ltd.		10,717		372,555
MarketAxess Holdings, Inc. (b)		1,854		607,185
Moody’s Corp.		8,025		1,643,761
Morgan Stanley		62,860		2,682,236
MSCI, Inc.		4,290		934,148
Nasdaq, Inc.		5,470		543,445
Natixis S.A.		80,904		335,992
Nomura Holdings, Inc.		284,116		1,201,458
Northern Trust Corp.		10,590		988,259
Partners Group Holding AG		1,600		1,227,351
Raymond James Financial, Inc.		6,149		507,047
S&P Global, Inc.		12,115		2,967,933
SBI Holdings, Inc.		20,251		435,958
Schroders plc		10,645		402,459
Singapore Exchange, Ltd.		67,900		416,702
St. James’s Place plc		45,325		545,671
Capital Markets—(Continued)
Standard Life Aberdeen plc		213,271		749,427
State Street Corp.		18,190		1,076,666
T. Rowe Price Group, Inc.		11,590		1,324,157
UBS Group AG (a)		330,101		3,752,643
				62,297,291
Chemicals—1.4%
Air Liquide S.A.		36,763		5,238,104
Air Products & Chemicals, Inc.		10,545		2,339,514
Air Water, Inc.		12,601		226,594
Akzo Nobel NV		19,497		1,739,356
Albemarle Corp. (b)		5,088		353,718
Arkema S.A.		5,893		550,134
Asahi Kasei Corp.		108,065		1,071,507
BASF SE		78,628		5,500,327
Celanese Corp.		6,395		782,045
CF Industries Holdings, Inc.		11,100		546,120
Chr Hansen Holding A/S		9,030		766,670
Clariant AG (a)		17,111		333,254
Corteva, Inc. (a)		36,774		1,029,672
Covestro AG (144A)		14,883		736,434
Croda International plc		11,001		657,719
Daicel Corp.		22,192		188,813
Dow, Inc. (a)		36,774		1,752,281
DuPont de Nemours, Inc.		36,774		2,622,354
Eastman Chemical Co.		6,680		493,184
Ecolab, Inc.		12,245		2,425,000
EMS-Chemie Holding AG		702		437,500
Evonik Industries AG		15,223		375,800
FMC Corp.		6,840		599,731
Givaudan S.A.		791		2,207,700
Hitachi Chemical Co., Ltd.		8,996		294,253
Incitec Pivot, Ltd.		135,688		310,921
International Flavors & Fragrances, Inc. (b)		4,885		599,348
Israel Chemicals, Ltd.		59,536		296,695
Johnson Matthey plc		16,568		623,312
JSR Corp.		16,252		261,724
Kaneka Corp.		4,288		134,511
Kansai Paint Co., Ltd.		14,983		350,200
Koninklijke DSM NV		15,531		1,868,238
Kuraray Co., Ltd.		27,005		334,045
LANXESS AG		7,445		454,481
Linde plc		26,537		5,140,748
LyondellBasell Industries NV - Class A		15,071		1,348,402
Mitsubishi Chemical Holdings Corp.		109,605		785,535
Mitsubishi Gas Chemical Co., Inc.		13,716		184,354
Mitsui Chemicals, Inc.		15,792		355,937
Mosaic Co. (The)		16,980		348,090
Nippon Paint Holdings Co., Ltd.		12,536		653,950
Nissan Chemical Corp.		10,842		453,261
Nitto Denko Corp.		13,387		648,834
Novozymes A/S - B Shares		18,742		787,938
Orica, Ltd.		32,525		495,456
PPG Industries, Inc.		11,490		1,361,680
Sherwin-Williams Co. (The)		3,960		2,177,485

BHFTI-3

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Chemicals—(Continued)
Shin-Etsu Chemical Co., Ltd.		31,115	$	3,352,545
Showa Denko KK		11,575		305,080
Sika AG		10,924		1,598,928
Solvay S.A.		6,345		657,913
Sumitomo Chemical Co., Ltd.		127,544		576,316
Symrise AG		11,014		1,070,431
Taiyo Nippon Sanso Corp.		10,986		223,055
Teijin, Ltd.		15,064		290,788
Toray Industries, Inc.		118,714		886,317
Tosoh Corp.		21,989		292,718
Umicore S.A.		16,875		637,610
Yara International ASA		15,203		655,886
				63,790,516
Commercial Services & Supplies—0.3%
Brambles, Ltd.		136,435		1,051,112
Cintas Corp. (b)		4,130		1,107,253
Copart, Inc. (a)		9,865		792,455
Dai Nippon Printing Co., Ltd.		20,818		541,078
Edenred		20,518		985,296
G4S plc		131,195		305,505
ISS A/S		13,510		334,308
Park24 Co., Ltd.		9,805		227,563
Rentokil Initial plc		158,313		910,388
Republic Services, Inc.		10,385		898,822
Rollins, Inc. (b)		7,079		241,181
Secom Co., Ltd.		17,974		1,645,372
Securitas AB - B Shares		26,805		410,892
Societe BIC S.A.		2,168		145,615
Sohgo Security Services Co., Ltd.		6,144		323,196
Toppan Printing Co., Ltd.		21,017		374,135
Waste Management, Inc.		18,835		2,166,025
				12,460,196
Communications Equipment—0.4%
Arista Networks, Inc. (a) (b)		2,556		610,679
Cisco Systems, Inc. (e)		216,200		10,682,442
F5 Networks, Inc. (a)		2,885		405,112
Juniper Networks, Inc.		16,520		408,870
Motorola Solutions, Inc.		7,900		1,346,239
Nokia Oyj		482,472		2,445,048
Telefonaktiebolaget LM Ericsson - B Shares		263,015		2,102,181
				18,000,571
Construction & Engineering—0.3%
ACS Actividades de Construccion y Servicios S.A.		22,427		897,202
Bouygues S.A.		19,082		765,072
CIMIC Group, Ltd.		8,381		178,301
Eiffage S.A.		6,712		696,313
Ferrovial S.A.		42,180		1,218,742
HOCHTIEF AG		2,117		241,121
Jacobs Engineering Group, Inc.		5,750		526,125
JGC Corp.		18,850		248,556
Kajima Corp.		38,467		507,382
Obayashi Corp.		55,588		556,403
Construction & Engineering—(Continued)
Quanta Services, Inc.		6,985		264,033
Shimizu Corp.		50,626		460,364
Skanska AB - B Shares		29,118		590,132
Taisei Corp.		17,300		673,581
Vinci S.A.		43,530		4,692,019
				12,515,346
Construction Materials—0.2%
Boral, Ltd.		99,127		325,308
CRH plc		69,455		2,383,916
Fletcher Building, Ltd.		72,155		232,420
HeidelbergCement AG		12,740		921,063
Imerys S.A.		3,144		126,513
James Hardie Industries plc		37,860		635,831
LafargeHolcim, Ltd. (a)		41,564		2,048,421
Martin Marietta Materials, Inc.		3,012		825,589
Taiheiyo Cement Corp.		10,376		278,934
Vulcan Materials Co.		6,350		960,374
				8,738,369
Consumer Finance—0.2%
Acom Co., Ltd.		33,743		132,935
AEON Financial Service Co., Ltd.		9,534		144,256
American Express Co.		33,680		3,983,670
Capital One Financial Corp.		22,765		2,071,160
Credit Saison Co., Ltd.		13,328		179,772
Discover Financial Services		16,085		1,304,333
Synchrony Financial		31,787		1,083,619
				8,899,745
Containers & Packaging—0.1%
AMCOR plc (a)		79,851		778,547
Avery Dennison Corp.		4,100		465,637
Ball Corp.		16,240		1,182,434
International Paper Co.		19,435		812,772
Packaging Corp. of America		4,799		509,174
Sealed Air Corp.		7,495		311,118
Smurfit Kappa Group plc		19,314		574,526
Toyo Seikan Group Holdings, Ltd.		12,156		189,812
WestRock Co.		12,195		444,508
				5,268,528
Distributors—0.0%
Genuine Parts Co.		7,015		698,624
Jardine Cycle & Carriage, Ltd.		8,600		187,207
LKQ Corp. (a)		15,232		479,046
				1,364,877
Diversified Consumer Services—0.0%
Benesse Holdings, Inc.		6,065		158,078
H&R Block, Inc. (b)		9,855		232,775
				390,853

BHFTI-4

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Financial Services—0.6%
AMP, Ltd.		248,375	$	306,549
Berkshire Hathaway, Inc. - Class B (a) (e)		93,550		19,460,271
Challenger, Ltd.		46,511		232,297
Eurazeo S.A.		3,439		255,987
EXOR NV		9,284		622,918
Groupe Bruxelles Lambert S.A.		6,907		663,644
Industrivarden AB - C Shares		14,367		314,764
Investor AB - B Shares		38,992		1,907,129
Kinnevik AB - Class B		20,709		545,036
L E Lundbergforetagen AB - B Shares		6,582		247,784
Mitsubishi UFJ Lease & Finance Co., Ltd.		34,086		197,863
ORIX Corp.		113,396		1,697,035
Pargesa Holding S.A.		3,332		256,329
Tokyo Century Corp.		3,724		173,412
Wendel S.A.		2,388		329,737
				27,210,755
Diversified Telecommunication Services—1.2%
AT&T, Inc. (e)		350,041		13,245,551
BT Group plc		722,033		1,586,462
Cellnex Telecom S.A. (144A) (a)		16,624		686,708
CenturyLink, Inc.		45,713		570,498
Deutsche Telekom AG		285,326		4,789,916
Elisa Oyj		12,176		627,714
HKT Trust & HKT, Ltd.		324,000		515,140
Iliad S.A.		2,287		214,772
Koninklijke KPN NV		305,820		954,099
Nippon Telegraph & Telephone Corp.		55,099		2,635,314
Orange S.A.		170,787		2,680,737
PCCW, Ltd.		359,000		201,643
Proximus SADP		13,041		387,455
Singapore Telecommunications, Ltd.		630,700		1,419,694
Singapore Telecommunications, Ltd.		68,200		153,146
Spark New Zealand, Ltd.		155,260		429,044
Swisscom AG		2,218		1,093,955
Telecom Italia S.p.A. (a)		780,886		446,012
Telecom Italia S.p.A. - Risparmio Shares		509,683		278,875
Telefonica Deutschland Holding AG		76,391		212,971
Telefonica S.A.		400,029		3,054,603
Telenor ASA		62,983		1,263,754
Telia Co. AB		240,942		1,079,227
Telstra Corp., Ltd.		356,347		845,353
TPG Telecom, Ltd.		31,380		147,226
United Internet AG		10,539		375,917
Verizon Communications, Inc. (e)		198,720		11,994,739
				51,890,525
Electric Utilities—1.1%
Alliant Energy Corp.		11,344		611,782
American Electric Power Co., Inc.		23,650		2,215,768
AusNet Services		152,806		187,063
Chubu Electric Power Co., Inc.		55,156		798,875
Chugoku Electric Power Co., Inc. (The) (b)		23,531		302,224
CK Infrastructure Holdings, Ltd.		56,700		380,304
CLP Holdings, Ltd.		140,582		1,471,988
Duke Energy Corp.		34,215		3,279,850
Electric Utilities—(Continued)
Edison International		15,645		1,179,946
EDP - Energias de Portugal S.A.		219,114		851,112
Electricite de France S.A.		51,539		576,781
Endesa S.A.		27,191		715,360
Enel S.p.A.		696,262		5,202,391
Entergy Corp.		8,725		1,023,966
Evergy, Inc.		12,586		837,724
Eversource Energy (b)		15,165		1,296,153
Exelon Corp.		46,424		2,242,743
FirstEnergy Corp.		23,325		1,124,965
Fortum Oyj		38,022		899,461
HK Electric Investments & HK Electric Investments, Ltd.		224,100		213,609
Iberdrola S.A.		514,053		5,342,156
Kansai Electric Power Co., Inc. (The)		60,270		674,056
Kyushu Electric Power Co., Inc.		32,075		302,763
NextEra Energy, Inc.		23,045		5,369,255
Orsted A/S (144A)		16,195		1,504,170
Pinnacle West Capital Corp.		5,350		519,324
Power Assets Holdings, Ltd.		118,700		797,815
PPL Corp.		34,615		1,090,026
Red Electrica Corp. S.A.		37,056		752,274
Southern Co. (The)		49,395		3,051,129
SSE plc		87,877		1,346,394
Terna Rete Elettrica Nazionale S.p.A.		120,446		773,542
Tohoku Electric Power Co., Inc.		36,143		353,662
Tokyo Electric Power Co. Holdings, Inc. (a)		130,691		639,844
Verbund AG		5,855		320,271
Xcel Energy, Inc.		24,710		1,603,432
				49,852,178
Electrical Equipment—0.5%
ABB, Ltd.		157,765		3,098,706
AMETEK, Inc.		11,067		1,016,172
Eaton Corp. plc		20,838		1,732,680
Emerson Electric Co.		30,095		2,012,152
Fuji Electric Co., Ltd.		10,864		335,211
Legrand S.A.		22,840		1,631,394
Melrose Industries plc		415,895		1,030,304
Mitsubishi Electric Corp.		156,241		2,087,457
Nidec Corp.		19,142		2,593,906
Prysmian S.p.A.		20,692		444,739
Rockwell Automation, Inc.		5,845		963,256
Schneider Electric SE		47,084		4,129,289
Siemens Gamesa Renewable Energy S.A.		20,477		278,229
Vestas Wind Systems A/S		16,729		1,299,631
				22,653,126
Electronic Equipment, Instruments & Components—0.6%
Alps Alpine Co., Ltd.		17,688		332,260
Amphenol Corp. - Class A		14,470		1,396,355
CDW Corp.		7,156		881,905
Corning, Inc.		38,440		1,096,309
FLIR Systems, Inc.		6,605		347,357
Halma plc		32,500		787,418
Hamamatsu Photonics KK		12,007		449,146
Hexagon AB - B Shares		22,290		1,077,059

BHFTI-5

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electronic Equipment, Instruments & Components—(Continued)
Hirose Electric Co., Ltd.		2,803	$	345,807
Hitachi High-Technologies Corp.		5,943		343,392
Hitachi, Ltd.		82,755		3,099,108
Ingenico Group S.A.		5,136		501,417
IPG Photonics Corp. (a) (b)		1,681		227,943
Keyence Corp.		7,808		4,864,674
Keysight Technologies, Inc. (a)		8,930		868,442
Kyocera Corp.		27,478		1,716,103
Murata Manufacturing Co., Ltd.		49,176		2,380,749
Nippon Electric Glass Co., Ltd.		6,816		152,713
Omron Corp.		16,485		909,722
Shimadzu Corp.		19,009		483,137
TDK Corp.		11,094		1,002,817
TE Connectivity, Ltd.		16,500		1,537,470
Venture Corp., Ltd.		23,200		257,141
Yaskawa Electric Corp.		20,547		763,219
Yokogawa Electric Corp.		19,563		358,143
				26,179,806
Energy Equipment & Services—0.1%
Baker Hughes a GE Co.		24,625		571,300
Halliburton Co.		42,050		792,642
Helmerich & Payne, Inc.		5,205		208,564
John Wood Group plc		57,627		268,461
National Oilwell Varco, Inc.		18,405		390,186
Schlumberger, Ltd.		66,537		2,273,569
TechnipFMC plc		20,436		493,325
Tenaris S.A.		40,424		428,882
WorleyParsons, Ltd.		27,272		241,245
				5,668,174
Entertainment—0.7%
Activision Blizzard, Inc.		36,704		1,942,376
Electronic Arts, Inc. (a)		14,480		1,416,434
Konami Holdings Corp.		7,991		387,137
Netflix, Inc. (a)		20,981		5,614,935
Nexon Co., Ltd. (a)		42,114		511,119
Nintendo Co., Ltd.		9,703		3,612,536
Take-Two Interactive Software, Inc. (a)		5,427		680,220
Toho Co., Ltd.		9,707		426,495
UBISOFT Entertainment S.A. (a)		7,156		517,547
Viacom, Inc. - Class B		16,970		407,789
Vivendi S.A.		78,275		2,149,615
Walt Disney Co. (The)		89,071		11,607,733
				29,273,936
Equity Real Estate Investment Trusts—4.8%
Acadia Realty Trust		9,355		267,366
Activia Properties, Inc.		79		403,383
Advance Residence Investment Corp.		143		469,927
Aedifica S.A.		2,819		326,393
AEON REIT Investment Corp.		168		231,441
Agree Realty Corp. (b)		4,650		340,147
Alexander’s, Inc.		284		98,948
Alexandria Real Estate Equities, Inc.		17,891		2,755,930
Equity Real Estate Investment Trusts—(Continued)
Allied Properties Real Estate Investment Trust		13,270		536,569
Alstria Office REIT-AG		18,000		308,718
American Assets Trust, Inc.		5,450		254,733
American Campus Communities, Inc.		15,527		746,538
American Finance Trust, Inc. (b)		12,050		168,218
American Homes 4 Rent Trust - Class A		29,224		756,609
American Tower Corp.		21,145		4,675,794
Americold Realty Trust		21,758		806,569
Apartment Investment & Management Co. - Class A		24,726		1,289,214
Apple Hospitality REIT, Inc.		23,850		395,433
Artis Real Estate Investment Trust		14,400		136,734
Ascencio		550		33,931
Ascendas Real Estate Investment Trust		501,148		1,132,161
Assura plc		268,995		235,818
AvalonBay Communities, Inc.		22,488		4,842,341
Befimmo S.A.		2,400		147,548
Big Yellow Group plc		17,450		222,978
Boardwalk Real Estate Investment Trust		4,350		145,815
Boston Properties, Inc.		25,012		3,243,056
Brandywine Realty Trust		19,776		299,606
British Land Co. plc (The)		183,460		1,319,873
Brixmor Property Group, Inc. (b)		33,727		684,321
Brookfield Property REIT, Inc. - Class A (b)		8,374		170,746
BWP Trust		55,468		148,007
Camden Property Trust		10,616		1,178,482
Canadian Apartment Properties REIT		18,150		746,221
CapitaLand Commercial Trust, Ltd.		507,734		759,841
CapitaLand Mall Trust		491,437		935,608
CareTrust REIT, Inc.		10,800		253,854
CDL Hospitality Trusts		89,282		105,984
Champion REIT		223,506		144,649
Charter Hall Retail REIT		41,723		119,757
Chatham Lodging Trust (b)		5,150		93,473
Choice Properties Real Estate Investment Trust		29,068		316,822
Civitas Social Housing plc		71,000		75,611
Cofinimmo S.A.		2,945		414,825
Colony Capital, Inc.		54,300		326,886
Columbia Property Trust, Inc.		13,200		279,180
Comforia Residential REIT, Inc.		66		211,822
Cominar Real Estate Investment Trust		20,631		205,088
Corporate Office Properties Trust		12,700		378,206
Cousins Properties, Inc.		16,509		620,573
Covivio		9,135		966,798
Crombie Real Estate Investment Trust		10,050		119,855
Cromwell Property Group		272,257		233,602
Crown Castle International Corp.		19,910		2,767,689
CubeSmart		21,827		761,762
Custodian REIT plc		42,913		62,050
CyrusOne, Inc.		12,700		1,004,570
Daiwa House REIT Investment Corp.		374		1,051,650
Daiwa Office Investment Corp.		31		240,567
Derwent London plc		11,450		474,584
Dexus		218,002		1,756,372
DiamondRock Hospitality Co.		22,750		233,187
Digital Realty Trust, Inc. (b)		33,551		4,355,255
Douglas Emmett, Inc.		18,840		806,917
Dream Global Real Estate Investment Trust		20,550		257,796

BHFTI-6

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Dream Industrial Real Estate Investment Trust		12,400	$	123,827
Dream Office Real Estate Investment Trust		5,350		119,571
Duke Realty Corp.		58,076		1,972,842
Easterly Government Properties, Inc. (b)		8,875		189,037
EastGroup Properties, Inc.		4,229		528,710
Empire State Realty Trust, Inc. - Class A		16,779		239,436
Empiric Student Property plc		66,803		76,652
EPR Properties		8,747		672,294
Equinix, Inc.		3,917		2,259,326
Equity Commonwealth		13,650		467,512
Equity LifeStyle Properties, Inc.		9,858		1,317,029
Equity Residential		59,333		5,118,065
Essential Properties Realty Trust, Inc.		8,550		195,880
Essex Property Trust, Inc.		10,699		3,494,828
Eurocommercial Properties NV		5,450		151,833
Extra Space Storage, Inc.		20,144		2,353,222
Federal Realty Investment Trust		12,091		1,646,069
First Industrial Realty Trust, Inc.		14,250		563,730
Fortune Real Estate Investment Trust		152,030		174,080
Four Corners Property Trust, Inc.		7,700		217,756
Franklin Street Properties Corp.		11,700		98,982
Frasers Centrepoint Trust		80,600		159,954
Frasers Logistics & Industrial Trust		188,650		169,258
Frontier Real Estate Investment Corp.		51		217,253
Fukuoka REIT Corp.		82		139,329
Gaming and Leisure Properties, Inc.		22,996		879,367
GCP Student Living plc		46,804		98,407
Gecina S.A.		9,843		1,546,624
Getty Realty Corp.		3,765		120,706
Global Net Lease, Inc.		9,500		185,250
Global One Real Estate Investment Corp.		109		147,250
GLP J-REIT		412		546,376
Goodman Group		139,751		1,337,246
GPT Group (The)		375,489		1,562,994
Granite Real Estate Investment Trust		5,650		273,576
Great Portland Estates plc		30,030		276,922
Green REIT plc		79,001		164,163
H&R Real Estate Investment Trust		32,565		568,539
Hamborner REIT AG		7,950		82,998
Hammerson plc		87,329		304,512
Hansteen Holdings plc		47,421		53,876
HCP, Inc.		78,842		2,809,140
Healthcare Realty Trust, Inc. (b)		14,460		484,410
Healthcare Trust of America, Inc. - Class A		23,125		679,412
Hersha Hospitality Trust (b)		3,912		58,211
Hibernia REIT plc		79,316		127,207
Highwoods Properties, Inc.		11,600		521,304
Host Hotels & Resorts, Inc.		117,980		2,039,874
Hudson Pacific Properties, Inc.		17,263		577,620
Hulic REIT, Inc.		125		229,612
Icade		6,187		553,307
Immobiliare Grande Distribuzione SIIQ S.p.A.		5,559		34,060
Impact Healthcare Reit plc		24,100		32,892
Independence Realty Trust, Inc.		10,150		145,246
Industrial & Infrastructure Fund Investment Corp.		187		268,478
Industrial Logistics Properties Trust		7,300		155,125
Inmobiliaria Colonial Socimi S.A.		37,034		446,833
Equity Real Estate Investment Trusts—(Continued)
Innovative Industrial Properties, Inc. (b)		1,250		115,462
InterRent Real Estate Investment Trust		12,950		159,914
Intervest Offices & Warehouses NV		2,500		71,796
Intu Properties plc		100,961		55,040
Invesco Office J-REIT, Inc.		990		196,794
Investors Real Estate Trust		1,291		96,399
Invincible Investment Corp.		556		343,059
Invitation Homes, Inc.		54,224		1,605,573
Irish Residential Properties REIT plc		49,797		93,246
Iron Mountain, Inc. (b)		13,749		445,330
Japan Excellent, Inc.		136		221,976
Japan Hotel REIT Investment Corp.		509		379,449
Japan Logistics Fund, Inc.		98		242,432
Japan Prime Realty Investment Corp.		165		783,235
Japan Real Estate Investment Corp.		261		1,750,194
Japan Rental Housing Investments, Inc.		170		156,511
Japan Retail Fund Investment Corp.		523		1,105,797
JBG SMITH Properties		13,875		544,039
Kenedix Office Investment Corp.		43		339,644
Kenedix Residential Next Investment Corp.		101		199,140
Kenedix Retail REIT Corp.		58		145,356
Keppel DC REIT		113,400		156,743
Keppel REIT		224,932		205,104
Killam Apartment Real Estate Investment Trust		9,600		145,139
Kilroy Realty Corp.		11,263		877,275
Kimco Realty Corp. (b)		66,042		1,378,957
Kite Realty Group Trust		9,362		151,196
Kiwi Property Group, Ltd.		163,420		170,920
Klepierre		39,186		1,330,638
Land Securities Group plc		141,546		1,490,469
Lar Espana Real Estate Socimi S.A.		7,250		60,926
LaSalle Logiport REIT		138		197,634
Lexington Realty Trust		25,900		265,475
Liberty Property Trust		17,686		907,822
Life Storage, Inc.		5,266		555,089
Link REIT		420,791		4,619,631
LondonMetric Property plc		92,626		247,669
LTC Properties, Inc.		4,450		227,929
LXI REIT plc		59,352		95,038
Macerich Co. (The) (b)		21,076		665,791
Mack-Cali Realty Corp.		9,757		211,337
Mapletree Commercial Trust		217,941		361,133
Mapletree Industrial Trust		160,457		282,141
Mapletree Logistics Trust		276,644		324,543
MCUBS MidCity Investment Corp.		173		190,010
Medical Properties Trust, Inc.		50,320		984,259
Mercialys S.A.		6,950		92,459
Merlin Properties Socimi S.A.		37,688		526,538
Mid-America Apartment Communities, Inc.		18,403		2,392,574
Mirvac Group		758,554		1,568,824
Mitsui Fudosan Logistics Park, Inc.		40		166,701
Monmouth Real Estate Investment Corp.		10,450		150,584
Montea CVA		1,350		114,345
Mori Hills REIT Investment Corp.		176		279,364
Mori Trust Sogo REIT, Inc.		113		202,545
National Health Investors, Inc.		4,750		391,352
National Retail Properties, Inc.		18,416		1,038,662

BHFTI-7

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
National Storage Affiliates Trust		6,700	$	223,579
NewRiver REIT plc (London Exchange)		34,261		81,893
Nippon Accommodations Fund, Inc.		51		317,464
Nippon Building Fund, Inc.		260		1,996,615
Nippon Prologis REIT, Inc.		379		1,037,894
NIPPON REIT Investment Corp.		49		204,626
Nomura Real Estate Master Fund, Inc.		826		1,491,446
Northview Apartment Real Estate Investment Trust		5,400		117,468
NorthWest Healthcare Properties Real Estate Investment Trust		11,650		103,499
NSI NV		2,021		87,339
Office Properties Income Trust		5,381		164,874
Omega Healthcare Investors, Inc. (b)		24,270		1,014,243
Orix JREIT, Inc.		300		655,031
Paramount Group, Inc.		22,874		305,368
Park Hotels & Resorts, Inc.		26,947		672,867
Pebblebrook Hotel Trust		14,711		409,260
Physicians Realty Trust		20,969		372,200
Piedmont Office Realty Trust, Inc. - Class A		14,150		295,452
Premier Investment Corp.		144		211,359
Primary Health Properties plc		127,713		208,267
ProLogis, Inc.		101,756		8,671,646
PS Business Parks, Inc.		2,300		418,485
Public Storage		24,147		5,922,535
QTS Realty Trust, Inc. - Class A		6,150		316,171
RDI REIT plc		28,849		38,720
Realty Income Corp.		50,386		3,863,598
Regency Centers Corp.		27,041		1,879,079
Regional REIT, Ltd. (144A)		41,888		53,046
Retail Estates NV		1,127		105,271
Retail Opportunity Investments Corp.		12,735		232,159
Retail Properties of America, Inc. - Class A		24,200		298,144
Retail Value, Inc.		1,642		60,820
Rexford Industrial Realty, Inc.		12,350		543,647
RioCan Real Estate Investment Trust		34,864		694,201
RLJ Lodging Trust		19,445		330,371
RPT Realty		8,828		119,619
Ryman Hospitality Properties, Inc.		5,186		424,267
Sabra Health Care REIT, Inc.		21,355		490,311
Safestore Holdings plc		23,340		191,797
Saul Centers, Inc.		1,353		73,752
SBA Communications Corp.		5,472		1,319,573
Scentre Group		1,037,516		2,754,717
Segro plc		217,080		2,164,133
Sekisui House REIT, Inc.		455		407,843
Senior Housing Properties Trust		26,750		247,571
Seritage Growth Properties - Class A (b)		3,800		161,462
Service Properties Trust		18,500		477,115
Shaftesbury plc		25,350		283,166
Shopping Centres Australasia Property Group		105,587		186,082
Simon Property Group, Inc.		49,925		7,770,826
SITE Centers Corp. (b)		15,875		239,871
SL Green Realty Corp.		13,388		1,094,469
Smart Real Estate Investment Trust		14,350		352,021
Spirit Realty Capital, Inc. (b)		10,161		486,305
STAG Industrial, Inc.		14,435		425,544
Stockland		477,970		1,468,817
Equity Real Estate Investment Trusts—(Continued)
STORE Capital Corp.		23,962		896,418
Summit Hotel Properties, Inc. (b)		11,700		135,720
Summit Industrial Income REIT		11,700		115,953
Sun Communities, Inc.		10,071		1,495,040
Sunstone Hotel Investors, Inc.		25,356		348,391
Suntec Real Estate Investment Trust		394,028		541,491
Tanger Factory Outlet Centers, Inc. (b)		10,300		159,444
Target Healthcare REIT plc (a)		43,861		61,803
Taubman Centers, Inc.		6,600		269,478
Terreno Realty Corp.		7,300		372,957
Tokyu REIT, Inc.		100		190,258
Triple Point Social Housing REIT plc (144A)		36,253		41,812
Tritax Big Box REIT plc		194,485		357,739
UDR, Inc.		46,234		2,241,424
Unibail-Rodamco-Westfield		26,583		3,875,300
Unibail-Rodamco-Westfield		650		94,758
UNITE Group plc (The)		32,650		438,384
United Urban Investment Corp.		584		1,118,506
Universal Health Realty Income Trust		1,476		151,733
Urban Edge Properties		13,000		257,270
Urstadt Biddle Properties, Inc. - Class A		3,300		78,210
Vastned Retail NV		1,907		56,949
Ventas, Inc.		59,472		4,343,240
VEREIT, Inc.		120,165		1,175,214
VICI Properties, Inc. (b)		52,512		1,189,397
Vicinity Centres		635,582		1,103,228
Vornado Realty Trust		27,945		1,779,258
Warehouses De Pauw SCA		2,067		379,474
Washington Prime Group, Inc. (b)		21,131		87,482
Washington Real Estate Investment Trust		9,044		247,444
Weingarten Realty Investors		13,708		399,314
Welltower, Inc.		64,146		5,814,835
Wereldhave Belgium NV		250		21,851
Wereldhave NV		4,550		101,231
Weyerhaeuser Co.		35,992		996,978
Workspace Group plc		15,150		179,255
WP Carey, Inc.		19,251		1,722,964
Xenia Hotels & Resorts, Inc.		12,800		270,336
Xior Student Housing NV		1,300		70,487
				209,628,539
Food & Staples Retailing—0.8%
Aeon Co., Ltd.		55,981		1,029,683
Carrefour S.A.		50,673		886,840
Casino Guichard Perrachon S.A.		4,800		229,034
Coles Group, Ltd.		97,063		1,010,142
Colruyt S.A.		4,916		269,371
Costco Wholesale Corp.		21,095		6,077,681
Dairy Farm International Holdings, Ltd.		28,500		179,658
FamilyMart Co., Ltd.		21,695		530,790
ICA Gruppen AB		7,749		358,067
J Sainsbury plc		148,932		402,487
Jeronimo Martins SGPS S.A.		21,619		364,695
Koninklijke Ahold Delhaize NV		101,334		2,534,916
Kroger Co. (The)		38,360		988,921
Lawson, Inc.		4,345		222,566

BHFTI-8

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Food & Staples Retailing—(Continued)
METRO AG		15,225	$	240,227
Seven & i Holdings Co., Ltd.		64,502		2,475,252
Sundrug Co., Ltd.		6,054		190,457
Sysco Corp.		22,945		1,821,833
Tesco plc		838,380		2,486,138
Tsuruha Holdings, Inc.		3,185		348,251
Walgreens Boots Alliance, Inc.		38,595		2,134,689
Walmart, Inc. (e)		68,474		8,126,494
Welcia Holdings Co., Ltd.		4,135		208,873
WM Morrison Supermarkets plc		202,736		499,285
Woolworths Group, Ltd.		112,779		2,841,405
				36,457,755
Food Products—1.3%
a2 Milk Co., Ltd. (a)		62,783		521,571
Ajinomoto Co., Inc.		37,609		711,561
Archer-Daniels-Midland Co.		26,955		1,107,042
Associated British Foods plc		30,498		863,451
Barry Callebaut AG		189		390,407
Calbee, Inc.		6,963		217,116
Campbell Soup Co.		9,190		431,195
Chocoladefabriken Lindt & Spruengli AG		9		744,839
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		92		679,312
Conagra Brands, Inc.		23,340		716,071
Danone S.A.		52,781		4,648,737
General Mills, Inc.		28,660		1,579,739
Golden Agri-Resources, Ltd.		542,700		88,503
Hershey Co. (The)		6,765		1,048,507
Hormel Foods Corp.		13,110		573,300
J.M. Smucker Co. (The)		5,485		603,460
Kellogg Co.		12,155		782,174
Kerry Group plc - Class A		13,583		1,594,310
Kikkoman Corp.		12,448		597,606
Kraft Heinz Co. (The)		29,823		833,106
Lamb Weston Holdings, Inc.		6,948		505,259
McCormick & Co., Inc.		5,870		917,481
MEIJI Holdings Co., Ltd.		9,803		715,677
Mondelez International, Inc. - Class A		69,860		3,864,655
Mowi ASA		37,550		866,315
Nestle S.A.		262,211		28,443,100
NH Foods, Ltd.		7,362		296,054
Nisshin Seifun Group, Inc.		16,936		314,222
Nissin Foods Holdings Co., Ltd.		5,444		394,574
Orkla ASA		65,419		595,623
Toyo Suisan Kaisha, Ltd.		7,622		305,451
Tyson Foods, Inc. - Class A		14,150		1,218,881
Vitasoy International Holdings, Ltd.		63,600		257,864
WH Group, Ltd. (144A)		816,600		738,959
Wilmar International, Ltd.		164,439		444,810
Yakult Honsha Co., Ltd.		10,250		573,658
Yamazaki Baking Co., Ltd.		10,244		182,797
				59,367,387
Gas Utilities—0.2%
APA Group		101,005		782,364
Gas Utilities—(Continued)
Atmos Energy Corp.		5,565		633,798
Enagas S.A.		19,415		450,220
Hong Kong & China Gas Co., Ltd.		858,574		1,667,586
Naturgy Energy Group S.A.		25,700		681,789
Osaka Gas Co., Ltd.		32,103		616,282
Snam S.p.A.		178,182		900,887
Toho Gas Co., Ltd.		6,422		246,416
Tokyo Gas Co., Ltd.		32,843		830,347
				6,809,689
Health Care Equipment & Supplies—1.4%
Abbott Laboratories		84,470		7,067,605
ABIOMED, Inc. (a)		2,172		386,377
Alcon, Inc. (a)		37,120		2,166,408
Align Technology, Inc. (a)		3,499		633,039
Asahi Intecc Co., Ltd.		16,698		441,871
Baxter International, Inc.		23,800		2,081,786
Becton Dickinson & Co.		12,957		3,277,603
BioMerieux		3,563		294,892
Boston Scientific Corp. (a)		66,480		2,705,071
Carl Zeiss Meditec AG		3,446		392,644
Cochlear, Ltd.		4,941		695,278
Coloplast A/S - Class B		10,170		1,226,035
Cooper Cos., Inc. (The)		2,376		705,672
Danaher Corp.		29,660		4,283,794
Demant A/S (a)		9,722		249,272
DENTSPLY SIRONA, Inc.		10,607		565,459
Edwards Lifesciences Corp. (a)		10,060		2,212,294
Fisher & Paykel Healthcare Corp., Ltd.		49,108		530,586
Hologic, Inc. (a)		12,863		649,453
Hoya Corp.		32,654		2,665,766
IDEXX Laboratories, Inc. (a)		4,191		1,139,659
Intuitive Surgical, Inc. (a)		5,560		3,002,011
Koninklijke Philips NV		79,288		3,675,376
Medtronic plc		64,579		7,014,571
Olympus Corp.		99,750		1,350,102
ResMed, Inc.		6,783		916,451
Siemens Healthineers AG (144A)		12,841		505,182
Smith & Nephew plc		74,897		1,804,127
Sonova Holding AG		4,754		1,105,540
Straumann Holding AG		884		723,036
Stryker Corp.		14,970		3,238,011
Sysmex Corp.		14,323		962,734
Teleflex, Inc.		2,245		762,739
Terumo Corp.		55,267		1,780,478
Varian Medical Systems, Inc. (a)		4,425		526,973
Zimmer Biomet Holdings, Inc.		9,835		1,350,050
				63,087,945
Health Care Providers & Services—0.8%
Alfresa Holdings Corp.		16,095		361,128
AmerisourceBergen Corp.		7,485		616,240
Anthem, Inc.		12,480		2,996,448
Cardinal Health, Inc.		14,330		676,233
Centene Corp. (a)		19,718		853,001
Chartwell Retirement Residences		24,100		267,768

BHFTI-9

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
Cigna Corp. (a)		18,346	$	2,784,739
CVS Health Corp.		62,199		3,922,891
DaVita, Inc. (a)		6,030		344,132
Fresenius Medical Care AG & Co. KGaA		18,450		1,239,982
Fresenius SE & Co. KGaA		35,713		1,669,586
HCA Healthcare, Inc.		12,869		1,549,685
Henry Schein, Inc. (a) (b)		7,706		489,331
Humana, Inc.		6,600		1,687,422
Laboratory Corp. of America Holdings (a)		4,825		810,600
McKesson Corp.		9,355		1,278,454
Medipal Holdings Corp.		15,700		350,988
NMC Health plc		8,021		267,160
Quest Diagnostics, Inc.		6,505		696,230
Ramsay Health Care, Ltd.		12,110		530,810
Ryman Healthcare, Ltd.		33,822		280,963
Sonic Healthcare, Ltd.		38,530		731,233
Suzuken Co., Ltd.		6,197		334,413
UnitedHealth Group, Inc.		46,300		10,061,916
Universal Health Services, Inc. - Class B		4,100		609,875
WellCare Health Plans, Inc. (a)		2,455		636,262
				36,047,490
Health Care Technology—0.0%
Cerner Corp.		15,760		1,074,359
M3, Inc.		36,055		873,054
				1,947,413
Hotels, Restaurants & Leisure—0.9%
Accor S.A.		15,726		656,179
Aristocrat Leisure, Ltd.		48,849		1,012,942
Carnival Corp.		19,220		840,106
Carnival plc		14,083		583,722
Chipotle Mexican Grill, Inc. (a)		1,215		1,021,171
Compass Group plc		135,777		3,493,503
Crown Resorts, Ltd.		31,639		257,474
Darden Restaurants, Inc.		5,975		706,364
Flight Centre Travel Group, Ltd.		4,701		151,220
Flutter Entertainment plc (a)		6,771		633,199
Galaxy Entertainment Group, Ltd.		185,271		1,162,393
Genting Singapore, Ltd.		511,300		325,655
GVC Holdings plc		49,811		455,789
Hilton Worldwide Holdings, Inc.		14,208		1,322,907
InterContinental Hotels Group plc		14,731		919,317
Marriott International, Inc. - Class A		13,607		1,692,303
McDonald’s Corp.		37,040		7,952,858
McDonald’s Holdings Co. Japan, Ltd.		5,731		277,287
Melco Resorts & Entertainment, Ltd. (ADR)		17,717		343,887
Merlin Entertainments plc (144A)		60,495		336,605
MGM China Holdings, Ltd.		80,300		126,250
MGM Resorts International		24,004		665,391
Norwegian Cruise Line Holdings, Ltd. (a)		10,527		544,983
Oriental Land Co., Ltd.		17,124		2,605,074
Pandox AB		8,536		170,194
Royal Caribbean Cruises, Ltd.		8,214		889,823
Sands China, Ltd.		207,435		947,112
Shangri-La Asia, Ltd.		106,100		108,481
Hotels, Restaurants & Leisure—(Continued)
SJM Holdings, Ltd.		167,456		160,275
Sodexo S.A.		7,574		850,819
Starbucks Corp.		59,586		5,268,594
Tabcorp Holdings, Ltd.		172,549		565,244
TUI AG		37,282		433,877
Whitbread plc		15,440		815,074
Wynn Macau, Ltd.		131,778		259,091
Wynn Resorts, Ltd.		4,650		505,548
Yum! Brands, Inc.		14,940		1,694,644
				40,755,355
Household Durables—0.4%
Barratt Developments plc		86,826		691,995
Berkeley Group Holdings plc		10,492		539,098
Casio Computer Co., Ltd. (b)		16,426		254,609
D.R. Horton, Inc.		16,450		867,080
Electrolux AB - Series B		19,308		458,169
Garmin, Ltd.		5,770		488,661
Husqvarna AB - B Shares		35,303		268,875
Iida Group Holdings Co., Ltd.		12,447		203,689
Leggett & Platt, Inc.		6,180		253,009
Lennar Corp. - Class A		13,995		781,621
Mohawk Industries, Inc. (a)		3,060		379,654
Newell Brands, Inc.		20,595		385,538
Nikon Corp.		27,476		345,218
NVR, Inc. (a)		170		631,950
Panasonic Corp.		188,996		1,539,476
Persimmon plc		27,187		725,641
PulteGroup, Inc.		12,380		452,489
Rinnai Corp.		2,914		196,899
SEB S.A.		1,939		294,594
Sekisui Chemical Co., Ltd.		31,621		492,902
Sekisui House, Ltd.		53,214		1,050,316
Sharp Corp.		18,007		201,020
Sony Corp.		108,793		6,392,732
Taylor Wimpey plc		280,664		557,307
Whirlpool Corp.		3,030		479,831
				18,932,373
Household Products—0.7%
Church & Dwight Co., Inc.		11,802		887,983
Clorox Co. (The)		6,115		928,685
Colgate-Palmolive Co.		41,650		3,061,692
Essity AB - Class B		51,919		1,514,869
Henkel AG & Co. KGaA		8,896		814,696
Kimberly-Clark Corp.		16,635		2,363,002
Lion Corp.		19,227		379,311
Pigeon Corp.		9,894		407,704
Procter & Gamble Co. (The) (e)		119,806		14,901,470
Reckitt Benckiser Group plc		60,567		4,723,553
Unicharm Corp.		34,546		1,094,959
				31,077,924
Independent Power and Renewable Electricity Producers—0.1%
AES Corp.		31,785		519,367

BHFTI-10

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Independent Power and Renewable Electricity Producers—(Continued)
Electric Power Development Co., Ltd.		12,615	$	288,919
Meridian Energy, Ltd.		108,357		352,891
NRG Energy, Inc.		13,905		550,638
Uniper SE		17,231		565,041
				2,276,856
Industrial Conglomerates—0.7%
3M Co.		28,045		4,610,598
CK Hutchison Holdings, Ltd.		231,046		2,031,214
DCC plc		8,412		733,681
General Electric Co. (e)		442,672		3,957,488
Honeywell International, Inc.		35,560		6,016,752
Jardine Matheson Holdings, Ltd.		18,904		1,013,946
Jardine Strategic Holdings, Ltd.		19,000		568,815
Keihan Holdings Co., Ltd.		8,249		368,042
Keppel Corp., Ltd.		124,500		535,783
NWS Holdings, Ltd.		131,800		204,333
Roper Technologies, Inc.		4,990		1,779,434
Sembcorp Industries, Ltd.		83,100		125,384
Siemens AG		65,489		7,018,034
Smiths Group plc		33,895		654,074
Toshiba Corp.		47,657		1,459,519
				31,077,097
Insurance—2.2%
Admiral Group plc		16,165		421,062
Aegon NV		152,489		634,149
Aflac, Inc.		36,570		1,913,342
Ageas		15,642		868,043
AIA Group, Ltd.		1,033,773		9,700,057
Allianz SE		36,337		8,473,639
Allstate Corp. (The)		16,565		1,800,284
American International Group, Inc.		42,471		2,365,635
Aon plc		11,580		2,241,541
Arthur J. Gallagher & Co.		8,742		783,021
Assicurazioni Generali S.p.A.		93,791		1,818,878
Assurant, Inc.		2,505		315,179
Aviva plc		334,148		1,638,694
AXA S.A.		166,070		4,244,827
Baloise Holding AG		4,178		748,859
Chubb, Ltd.		22,167		3,578,640
Cincinnati Financial Corp.		7,210		841,191
CNP Assurances		14,744		285,095
Dai-ichi Life Holdings, Inc.		92,316		1,402,852
Direct Line Insurance Group plc		117,708		434,172
Everest Re Group, Ltd.		1,928		513,022
Gjensidige Forsikring ASA		17,169		340,732
Globe Life, Inc.		4,855		464,915
Hannover Rueck SE		5,162		873,058
Hartford Financial Services Group, Inc. (The)		17,240		1,044,916
Insurance Australia Group, Ltd.		197,839		1,055,978
Japan Post Holdings Co., Ltd.		134,829		1,245,147
Legal & General Group plc		510,280		1,558,062
Lincoln National Corp.		10,240		617,677
Loews Corp.		13,240		681,595
Mapfre S.A. (b)		91,137		245,690
Insurance—(Continued)
Marsh & McLennan Cos., Inc.		24,150		2,416,208
Medibank Private, Ltd.		235,758		542,598
MetLife, Inc. (f)		47,375		2,234,205
MS&AD Insurance Group Holdings, Inc.		40,632		1,321,849
Muenchener Rueckversicherungs-Gesellschaft AG		12,802		3,312,167
NN Group NV		26,277		932,860
Poste Italiane S.p.A. (144A)		44,724		509,077
Principal Financial Group, Inc.		12,575		718,536
Progressive Corp. (The)		28,005		2,163,386
Prudential Financial, Inc.		19,830		1,783,709
Prudential plc		221,987		4,031,496
QBE Insurance Group, Ltd.		113,742		966,621
RSA Insurance Group plc		87,913		577,336
Sampo Oyj - A Shares		37,951		1,509,807
SCOR SE		13,957		576,796
Sompo Holdings, Inc.		28,764		1,209,432
Sony Financial Holdings, Inc.		13,035		283,911
Suncorp Group, Ltd. (a)		107,935		994,898
Swiss Life Holding AG		2,930		1,400,329
Swiss Re AG		26,089		2,722,632
T&D Holdings, Inc.		47,661		508,910
Tokio Marine Holdings, Inc.		55,450		2,977,048
Travelers Cos., Inc. (The)		12,780		1,900,258
Tryg A/S		10,380		297,449
Unum Group		10,495		311,911
Willis Towers Watson plc		6,267		1,209,343
Zurich Insurance Group AG		12,957		4,958,064
				95,520,788
Interactive Media & Services—1.4%
Alphabet, Inc. - Class A (a) (e)		14,390		17,572,205
Alphabet, Inc. - Class C (a) (e)		14,816		18,060,704
Auto Trader Group plc		79,391		497,751
Facebook, Inc. - Class A (a)		115,596		20,585,336
Kakaku.com, Inc.		11,575		286,159
LINE Corp. (a)		5,148		184,335
REA Group, Ltd.		4,534		332,537
TripAdvisor, Inc. (a) (b)		4,855		187,791
Twitter, Inc. (a)		34,776		1,432,771
Yahoo Japan Corp.		242,555		686,312
				59,825,901
Internet & Direct Marketing Retail—1.1%
Amazon.com, Inc. (a)		20,086		34,867,488
Booking Holdings, Inc. (a)		2,295		4,504,190
Delivery Hero AG (144A) (a)		9,628		427,695
eBay, Inc.		43,475		1,694,656
Expedia Group, Inc.		5,735		770,842
Mercari, Inc. (a)		6,357		158,843
Ocado Group plc (a)		38,912		633,376
Prosus NV (a)		42,046		3,086,519
Rakuten, Inc.		73,684		726,671
Zalando SE (144A) (a)		10,729		489,664
ZOZO, Inc. (b)		17,429		402,107
				47,762,051

BHFTI-11

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—1.8%
Accenture plc - Class A		30,695	$	5,904,183
Adyen NV (144A) (a)		886		584,190
Akamai Technologies, Inc. (a)		7,760		709,109
Alliance Data Systems Corp.		2,300		294,699
Amadeus IT Group S.A.		37,566		2,693,986
Atos SE		8,235		581,215
Automatic Data Processing, Inc.		21,095		3,405,155
Broadridge Financial Solutions, Inc. (b)		5,558		691,582
Capgemini SE		13,606		1,604,913
Cognizant Technology Solutions Corp. - Class A		27,850		1,678,380
Computershare, Ltd.		41,832		458,813
DXC Technology Co.		13,428		396,126
Fidelity National Information Services, Inc.		30,117		3,998,333
Fiserv, Inc. (a)		28,042		2,904,871
FleetCor Technologies, Inc. (a)		4,323		1,239,750
Fujitsu, Ltd.		16,835		1,352,114
Gartner, Inc. (a) (b)		4,409		630,443
Global Payments, Inc.		14,113		2,243,967
GMO Payment Gateway, Inc.		3,499		233,824
International Business Machines Corp. (e)		43,694		6,353,981
Itochu Techno-Solutions Corp.		8,218		217,721
Jack Henry & Associates, Inc.		3,736		545,344
Leidos Holdings, Inc.		7,087		608,632
MasterCard, Inc. - Class A		43,700		11,867,609
Nomura Research Institute, Ltd.		29,037		579,778
NTT Data Corp.		54,028		700,804
Obic Co., Ltd.		5,543		634,349
Otsuka Corp.		8,962		359,123
Paychex, Inc.		16,265		1,346,254
PayPal Holdings, Inc. (a)		56,675		5,870,963
VeriSign, Inc. (a)		5,085		959,184
Visa, Inc. - Class A (b)		84,510		14,536,565
Western Union Co. (The)		21,220		491,667
Wirecard AG		10,049		1,605,970
Wix.com, Ltd. (a)		3,932		459,022
Worldline S.A. (144A) (a)		7,036		444,420
				79,187,039
Leisure Products—0.1%
Bandai Namco Holdings, Inc.		17,104		1,065,580
Hasbro, Inc.		5,545		658,136
Sankyo Co., Ltd.		3,913		134,969
Sega Sammy Holdings, Inc.		14,632		205,792
Shimano, Inc.		6,350		960,480
Yamaha Corp.		12,299		556,403
				3,581,360
Life Sciences Tools & Services—0.4%
Agilent Technologies, Inc.		15,335		1,175,121
Eurofins Scientific SE		983		457,280
Illumina, Inc. (a)		7,119		2,165,742
IQVIA Holdings, Inc. (a)		7,621		1,138,425
Lonza Group AG (a)		6,375		2,157,207
Mettler-Toledo International, Inc. (a)		1,289		907,971
PerkinElmer, Inc.		5,290		450,549
QIAGEN NV (a)		19,761		646,979
Life Sciences Tools & Services—(Continued)
Sartorius Stedim Biotech		2,374		332,164
Thermo Fisher Scientific, Inc.		19,430		5,659,376
Waters Corp. (a)		3,690		823,719
				15,914,533
Machinery—1.1%
Alfa Laval AB		26,931		532,056
Alstom S.A.		13,390		555,213
Amada Holdings Co., Ltd.		28,774		312,332
Andritz AG		6,291		257,323
Atlas Copco AB - A Shares		57,486		1,769,740
Atlas Copco AB - B Shares		33,405		906,437
Caterpillar, Inc.		28,385		3,585,309
CNH Industrial NV		86,921		886,357
Cummins, Inc.		7,095		1,154,144
Daifuku Co., Ltd.		8,671		451,255
Deere & Co.		15,515		2,617,070
Dover Corp.		7,000		696,920
Epiroc AB - Class A		56,415		612,477
Epiroc AB - Class B		32,974		341,260
FANUC Corp.		16,594		3,147,877
Flowserve Corp.		6,280		293,339
Fortive Corp.		14,130		968,753
GEA Group AG		13,134		354,634
Hino Motors, Ltd.		24,593		203,789
Hitachi Construction Machinery Co., Ltd.		9,315		226,345
Hoshizaki Corp.		4,660		367,686
IDEX Corp.		3,721		609,797
IHI Corp.		12,651		276,743
Illinois Tool Works, Inc.		14,700		2,300,403
Ingersoll-Rand plc		11,765		1,449,566
JTEKT Corp.		17,416		201,302
Kawasaki Heavy Industries, Ltd.		12,231		272,599
KION Group AG		5,560		292,071
Knorr-Bremse AG		4,140		389,152
Komatsu, Ltd.		79,069		1,822,180
Kone Oyj - Class B		29,013		1,652,685
Kubota Corp.		89,687		1,364,153
Kurita Water Industries, Ltd.		8,567		230,704
Makita Corp.		19,177		608,675
Metso Oyj		9,048		337,841
Minebea Mitsumi, Inc.		31,076		496,576
MISUMI Group, Inc.		24,277		576,729
Mitsubishi Heavy Industries, Ltd.		27,437		1,079,254
Nabtesco Corp.		9,729		304,143
NGK Insulators, Ltd.		22,157		317,395
NSK, Ltd.		30,298		257,133
PACCAR, Inc.		17,695		1,238,827
Parker-Hannifin Corp.		6,735		1,216,408
Pentair plc		7,673		290,039
Sandvik AB		96,644		1,505,004
Schindler Holding AG		1,726		384,852
Schindler Holding AG (Participation Certificate)		3,486		780,189
SKF AB - B Shares		32,523		538,215
SMC Corp.		4,903		2,109,527
Snap-on, Inc.		2,710		424,223

BHFTI-12

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Machinery—(Continued)
Spirax-Sarco Engineering plc		6,302	$	607,859
Stanley Black & Decker, Inc.		7,240		1,045,528
Sumitomo Heavy Industries, Ltd.		9,513		283,920
Techtronic Industries Co., Ltd.		117,200		822,503
THK Co., Ltd.		10,186		270,052
Volvo AB - B Shares		127,149		1,788,027
Wabtec Corp.		6,377		458,251
Wartsila Oyj Abp		37,991		426,165
Weir Group plc (The)		22,215		389,850
Xylem, Inc.		8,640		687,917
Yangzijiang Shipbuilding Holdings, Ltd.		201,590		140,091
				50,486,864
Marine—0.0%
AP Moller - Maersk A/S - Class A		324		346,395
AP Moller - Maersk A/S - Class B		560		634,918
Kuehne & Nagel International AG		4,623		681,374
Mitsui OSK Lines, Ltd.		9,918		252,550
Nippon Yusen KK		12,941		217,828
				2,133,065
Media—0.6%
Axel Springer SE (a)		4,203		288,591
CBS Corp. - Class B		16,150		651,976
Charter Communications, Inc. - Class A (a)		8,457		3,485,299
Comcast Corp. - Class A		218,304		9,841,144
CyberAgent, Inc.		8,673		335,085
Dentsu, Inc.		18,517		655,560
Discovery, Inc. - Class A (a)		7,450		198,394
Discovery, Inc. - Class C (a)		17,265		425,064
DISH Network Corp. - Class A (a) (b)		10,994		374,566
Eutelsat Communications S.A.		15,038		280,012
Fox Corp. - Class A		16,919		533,541
Fox Corp. - Class B (a)		8,141		256,767
Hakuhodo DY Holdings, Inc.		20,044		291,457
Informa plc		107,161		1,122,365
Interpublic Group of Cos., Inc. (The)		18,425		397,243
ITV plc		310,138		479,048
JCDecaux S.A.		6,473		175,337
News Corp. - Class A		18,521		257,812
News Corp. - Class B		5,856		83,712
Omnicom Group, Inc. (b)		10,685		836,635
Pearson plc		66,893		606,383
Publicis Groupe S.A.		18,125		891,119
RTL Group S.A. (b)		3,374		162,396
Schibsted ASA - B Shares		8,498		238,382
SES S.A.		31,185		568,742
Singapore Press Holdings, Ltd.		135,300		204,130
Telenet Group Holding NV		4,028		190,134
WPP plc		108,019		1,352,209
				25,183,103
Metals & Mining—0.8%
Alumina, Ltd.		206,980		331,355
Anglo American plc		90,202		2,078,024
Metals & Mining—(Continued)
Antofagasta plc		33,343		369,324
ArcelorMittal		56,862		801,524
BHP Group plc		180,806		3,866,879
BHP Group, Ltd.		252,182		6,243,402
BlueScope Steel, Ltd.		45,411		368,479
Boliden AB		23,126		532,137
Evraz plc		43,245		248,836
Fortescue Metals Group, Ltd.		118,609		711,347
Freeport-McMoRan, Inc.		69,700		667,029
Fresnillo plc		18,692		157,270
Glencore plc (a)		951,507		2,866,658
Hitachi Metals, Ltd.		18,133		196,937
JFE Holdings, Inc.		42,079		509,374
Kobe Steel, Ltd.		26,187		140,588
Maruichi Steel Tube, Ltd.		4,768		126,599
Mitsubishi Materials Corp.		9,568		259,730
Newcrest Mining, Ltd.		65,767		1,533,323
Newmont Goldcorp Corp.		39,891		1,512,667
Nippon Steel Corp.		69,150		969,165
Norsk Hydro ASA		115,126		406,422
Nucor Corp.		15,040		765,686
Rio Tinto plc		97,584		5,068,711
Rio Tinto, Ltd.		31,779		1,998,681
South32, Ltd.		432,435		768,483
Sumitomo Metal Mining Co., Ltd.		19,916		621,125
ThyssenKrupp AG		34,640		480,038
Voestalpine AG		9,935		228,622
				34,828,415
Multi-Utilities—0.6%
AGL Energy, Ltd.		56,142		725,545
Ameren Corp.		11,660		933,383
CenterPoint Energy, Inc.		24,100		727,338
Centrica plc		487,686		442,156
CMS Energy Corp.		13,555		866,842
Consolidated Edison, Inc.		14,945		1,411,854
Dominion Energy, Inc.		36,701		2,974,249
DTE Energy Co.		8,730		1,160,741
E.ON SE		188,427		1,831,183
Engie S.A.		156,356		2,554,522
National Grid plc		291,925		3,165,253
NiSource, Inc.		17,450		522,104
Public Service Enterprise Group, Inc.		24,270		1,506,682
RWE AG		46,823		1,465,057
Sempra Energy		13,120		1,936,643
Suez		29,255		460,104
Veolia Environnement S.A.		45,997		1,166,879
WEC Energy Group, Inc.		15,129		1,438,768
				25,289,303
Multiline Retail—0.3%
Dollar General Corp.		12,630		2,007,412
Dollar Tree, Inc. (a)		11,413		1,302,908
Harvey Norman Holdings, Ltd.		45,446		139,094
Isetan Mitsukoshi Holdings, Ltd.		28,430		227,720
J Front Retailing Co., Ltd.		19,445		228,601

BHFTI-13

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Multiline Retail—(Continued)
Kohl’s Corp.		7,925	$	393,556
Macy’s, Inc. (b)		14,710		228,593
Marks & Spencer Group plc		137,395		311,591
Marui Group Co., Ltd.		16,313		345,894
Next plc		11,811		898,374
Nordstrom, Inc.		5,390		181,481
Pan Pacific International Holdings Corp.		37,936		633,419
Ryohin Keikaku Co., Ltd.		20,460		383,954
Target Corp.		25,090		2,682,372
Wesfarmers, Ltd.		97,064		2,611,371
				12,576,340
Oil, Gas & Consumable Fuels—2.5%
Aker BP ASA		9,309		248,061
Apache Corp. (b)		18,195		465,792
BP plc		1,734,329		10,965,463
Cabot Oil & Gas Corp.		20,690		363,523
Caltex Australia, Ltd.		21,376		381,225
Chevron Corp. (e)		91,900		10,899,340
Cimarex Energy Co.		4,815		230,831
Concho Resources, Inc.		9,605		652,179
ConocoPhillips		55,320		3,152,134
Devon Energy Corp.		21,020		505,741
Diamondback Energy, Inc.		7,350		660,838
Eni S.p.A.		217,775		3,326,012
EOG Resources, Inc.		27,890		2,069,996
Equinor ASA		85,743		1,626,435
Exxon Mobil Corp. (e)		203,648		14,379,585
Galp Energia SGPS S.A.		42,911		645,450
Hess Corp.		11,970		723,946
HollyFrontier Corp.		7,667		411,258
Idemitsu Kosan Co., Ltd.		16,791		472,193
Inpex Corp.		87,628		799,346
JXTG Holdings, Inc.		275,367		1,249,012
Kinder Morgan, Inc.		91,230		1,880,250
Koninklijke Vopak NV		6,066		311,471
Lundin Petroleum AB		16,027		479,444
Marathon Oil Corp.		39,980		490,555
Marathon Petroleum Corp.		33,177		2,015,503
Neste Oyj		36,217		1,196,657
Noble Energy, Inc.		23,000		516,580
Occidental Petroleum Corp.		43,355		1,927,997
Oil Search, Ltd.		117,388		582,763
OMV AG		12,608		675,452
ONEOK, Inc.		20,867		1,537,689
Origin Energy, Ltd.		150,618		815,044
Phillips 66		20,340		2,082,816
Pioneer Natural Resources Co.		8,165		1,026,912
Repsol S.A.		124,393		1,940,310
Royal Dutch Shell plc - A Shares		378,990		11,077,590
Royal Dutch Shell plc - B Shares		320,636		9,419,339
Santos, Ltd.		151,568		794,627
Total S.A.		203,540		10,596,274
Valero Energy Corp.		20,415		1,740,175
Washington H Soul Pattinson & Co., Ltd.		10,247		145,549
Williams Cos., Inc. (The)		58,181		1,399,835
Oil, Gas & Consumable Fuels—(Continued)
Woodside Petroleum, Ltd.		80,140		1,759,150
				108,640,342
Paper & Forest Products—0.1%
Mondi plc		31,438		601,991
OJI Holdings Corp.		72,905		342,182
Stora Enso Oyj - R Shares		49,800		600,662
UPM-Kymmene Oyj		45,691		1,352,123
				2,896,958
Personal Products—0.7%
Beiersdorf AG		8,629		1,018,130
Coty, Inc. - Class A		22,919		240,879
Estee Lauder Cos., Inc. (The) - Class A		10,620		2,112,849
Kao Corp.		41,836		3,102,692
Kobayashi Pharmaceutical Co., Ltd.		4,228		323,177
Kose Corp. (b)		2,853		482,104
L’Oreal S.A.		21,586		6,048,579
Pola Orbis Holdings, Inc.		7,919		178,243
Shiseido Co., Ltd.		34,243		2,735,711
Unilever NV		124,772		7,497,312
Unilever plc		95,032		5,714,122
				29,453,798
Pharmaceuticals—3.4%
Allergan plc		15,208		2,559,354
Astellas Pharma, Inc.		161,010		2,301,085
AstraZeneca plc		113,411		10,078,232
Bayer AG		79,832		5,628,708
Bristol-Myers Squibb Co. (b)		78,435		3,977,439
Chugai Pharmaceutical Co., Ltd.		19,165		1,494,011
Daiichi Sankyo Co., Ltd.		48,557		3,062,252
Eisai Co., Ltd.		21,580		1,102,175
Eli Lilly & Co.		42,110		4,709,161
GlaxoSmithKline plc		425,026		9,097,931
H Lundbeck A/S		6,017		199,642
Hisamitsu Pharmaceutical Co., Inc.		4,481		197,182
Ipsen S.A.		3,229		306,493
Johnson & Johnson (e)		129,020		16,692,608
Kyowa Kirin Co., Ltd.		20,802		403,960
Merck & Co., Inc. (e)		125,035		10,525,446
Merck KGaA		11,064		1,246,729
Mitsubishi Tanabe Pharma Corp.		19,224		211,671
Mylan NV (a)		24,785		490,247
Nektar Therapeutics (a)(b)		8,314		151,440
Novartis AG		185,597		16,112,659
Novo Nordisk A/S - Class B		147,354		7,608,628
Ono Pharmaceutical Co., Ltd.		32,559		592,140
Orion Oyj - Class B		8,956		333,986
Otsuka Holdings Co., Ltd.		33,428		1,250,353
Perrigo Co. plc		5,953		332,713
Pfizer, Inc.		270,266		9,710,657
Recordati S.p.A.		8,965		384,809
Roche Holding AG		60,144		17,539,502
Sanofi		96,106		8,911,766

BHFTI-14

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Pharmaceuticals—(Continued)
Santen Pharmaceutical Co., Ltd.		31,373	$	547,348
Shionogi & Co., Ltd.		23,051		1,286,038
Sumitomo Dainippon Pharma Co., Ltd.		13,697		226,367
Taisho Pharmaceutical Holdings Co., Ltd.		3,108		226,958
Takeda Pharmaceutical Co., Ltd.		127,275		4,360,731
Teva Pharmaceutical Industries, Ltd. (ADR) (a)(b)		93,277		641,746
UCB S.A.		10,823		785,902
Vifor Pharma AG		3,895		622,667
Zoetis, Inc.		23,040		2,870,554
				148,781,290
Professional Services—0.5%
Adecco Group AG		13,547		749,325
Bureau Veritas S.A.		24,595		593,068
Equifax, Inc.		5,815		817,996
Experian plc		77,908		2,489,052
IHS Markit, Ltd. (a)		17,160		1,147,661
Intertek Group plc		13,817		930,340
Nielsen Holdings plc		17,033		361,951
Persol Holdings Co., Ltd.		15,247		290,227
Randstad NV		10,200		501,085
Recruit Holdings Co., Ltd.		114,629		3,503,595
RELX plc		168,019		3,986,354
Robert Half International, Inc.		5,820		323,941
Seek, Ltd.		28,556		414,487
SGS S.A.		458		1,135,000
Teleperformance SE		4,947		1,073,343
Verisk Analytics, Inc.		7,901		1,249,464
Wolters Kluwer NV		23,946		1,748,937
				21,315,826
Real Estate Management & Development—1.3%
ADO Properties S.A. (144A)		3,348		137,925
Aeon Mall Co., Ltd.		22,150		350,757
Allreal Holding AG (a)		1,632		313,873
Aroundtown S.A.		168,737		1,380,106
Atrium Ljungberg AB - B Shares		5,250		115,985
Azrieli Group, Ltd.		7,823		614,423
CA Immobilien Anlagen AG		7,832		277,749
Capital & Counties Properties plc		83,753		242,157
CapitaLand, Ltd.		503,960		1,290,836
Carmila S.A.		3,450		60,261
Castellum AB		30,720		657,802
Catena AB		2,350		77,141
CBRE Group, Inc. - Class A (a)		15,215		806,547
City Developments, Ltd.		92,296		657,879
Citycon Oyj		8,710		91,375
CK Asset Holdings, Ltd.		527,733		3,593,637
Daito Trust Construction Co., Ltd.		6,151		788,613
Daiwa House Industry Co., Ltd.		48,479		1,579,573
Deutsche Euroshop AG		5,800		163,610
Deutsche Wohnen SE		71,293		2,603,383
Dios Fastigheter AB		9,572		83,518
Entra ASA (144A)		16,168		253,569
Fabege AB		30,050		495,071
Fastighets AB Balder - B Shares (a)		11,050		418,395
Real Estate Management & Development—(Continued)
First Capital Realty, Inc.		15,150		252,376
Grainger plc		68,493		207,300
Grand City Properties S.A.		12,550		282,328
Hang Lung Properties, Ltd.		402,005		913,760
Helical plc		11,304		54,186
Hembla AB (a)		4,107		89,890
Hemfosa Fastigheter AB		18,374		186,077
Henderson Land Development Co., Ltd.		122,744		572,262
Hiag Immobilien Holding AG		300		33,997
Hongkong Land Holdings, Ltd.		231,885		1,306,539
Hufvudstaden AB - A Shares		12,500		226,263
Hulic Co., Ltd.		63,748		654,411
Hysan Development Co., Ltd.		123,139		498,198
Kennedy-Wilson Holdings, Inc.		13,877		304,184
Kerry Properties, Ltd.		55,300		171,141
Klovern AB - B Shares		57,401		107,143
Kojamo Oyj		9,905		162,318
Kungsleden AB		21,506		195,290
LEG Immobilien AG		7,250		829,903
Lend Lease Group		47,840		567,965
Mitsubishi Estate Co., Ltd.		235,835		4,566,577
Mitsui Fudosan Co., Ltd.		183,449		4,565,607
Mobimo Holding AG (a)		726		205,184
New World Development Co., Ltd.		1,176,814		1,537,314
Nomura Real Estate Holdings, Inc.		23,888		518,032
Nyfosa AB (a)		18,174		123,685
Phoenix Spree Deutschland, Ltd.		9,777		36,605
PSP Swiss Property AG		4,459		566,061
Sagax AB - Class D		11,200		42,899
Sino Land Co., Ltd.		624,836		943,060
Sirius Real Estate, Ltd.		107,052		99,749
Sumitomo Realty & Development Co., Ltd.		73,517		2,809,794
Sun Hung Kai Properties, Ltd.		298,412		4,314,142
Swire Pacific, Ltd. - Class A		42,580		396,805
Swire Properties, Ltd.		219,009		690,348
Swiss Prime Site AG (a)		15,068		1,475,405
TAG Immobilien AG (a)		14,350		327,452
TLG Immobilien AG		10,542		286,654
Tokyo Tatemono Co., Ltd.		22,568		318,464
Tokyu Fudosan Holdings Corp.		51,735		331,531
UOL Group, Ltd.		95,702		519,509
Vonovia SE		104,010		5,276,188
Wallenstam AB - B Shares		18,550		210,298
Wharf Holdings, Ltd. (The)		103,000		225,483
Wharf Real Estate Investment Co., Ltd.		242,426		1,329,064
Wheelock & Co., Ltd.		70,100		399,559
Wihlborgs Fastigheter AB		15,100		245,403
				57,030,588
Road & Rail—0.6%
Aurizon Holdings, Ltd.		170,366		679,162
Central Japan Railway Co.		12,345		2,548,075
ComfortDelGro Corp., Ltd.		183,000		318,266
CSX Corp.		38,570		2,671,744
East Japan Railway Co.		26,149		2,501,491
Hankyu Hanshin Holdings, Inc.		19,591		758,298

BHFTI-15

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Road & Rail—(Continued)
J.B. Hunt Transport Services, Inc.		4,196	$	464,287
Kansas City Southern		4,890		650,419
Keikyu Corp.		18,945		368,867
Keio Corp.		8,804		549,809
Keisei Electric Railway Co., Ltd.		11,070		456,963
Kintetsu Group Holdings Co., Ltd.		14,690		767,219
Kyushu Railway Co.		13,697		438,043
MTR Corp., Ltd.		131,300		733,317
Nagoya Railroad Co., Ltd.		15,584		467,179
Nippon Express Co., Ltd.		6,835		348,716
Norfolk Southern Corp.		13,140		2,360,732
Odakyu Electric Railway Co., Ltd.		25,237		606,412
Seibu Holdings, Inc.		17,573		307,104
Tobu Railway Co., Ltd.		16,358		531,880
Tokyu Corp.		42,794		805,822
Union Pacific Corp.		35,490		5,748,670
West Japan Railway Co.		14,006		1,186,414
				26,268,889
Semiconductors & Semiconductor Equipment—1.5%
Advanced Micro Devices, Inc. (a)		42,378		1,228,538
Advantest Corp.		17,084		755,610
Analog Devices, Inc.		17,802		1,989,017
Applied Materials, Inc.		47,260		2,358,274
ASM Pacific Technology, Ltd.		25,600		314,489
ASML Holding NV		36,439		9,044,231
Broadcom, Inc.		19,859		5,482,474
Disco Corp.		2,307		441,458
Infineon Technologies AG		97,352		1,750,002
Intel Corp. (e)		219,470		11,309,289
KLA Corp.		7,770		1,238,927
Lam Research Corp.		7,447		1,721,076
Maxim Integrated Products, Inc.		13,261		767,945
Microchip Technology, Inc. (b)		11,330		1,052,670
Micron Technology, Inc. (a)		53,870		2,308,329
NVIDIA Corp.		29,370		5,112,436
NXP Semiconductors NV		25,297		2,760,409
Qorvo, Inc. (a)		5,923		439,131
QUALCOMM, Inc.		58,268		4,444,683
Renesas Electronics Corp. (a)		64,272		417,987
Rohm Co., Ltd.		8,092		624,019
Skyworks Solutions, Inc.		8,471		671,327
STMicroelectronics NV		58,462		1,132,732
SUMCO Corp.		21,340		289,580
Texas Instruments, Inc.		46,230		5,974,765
Tokyo Electron, Ltd.		13,436		2,580,798
Xilinx, Inc.		12,180		1,168,062
				67,378,258
Software—2.2%
Adobe, Inc. (a)		23,520		6,497,400
ANSYS, Inc. (a)		3,987		882,562
Autodesk, Inc. (a)		10,565		1,560,450
Cadence Design Systems, Inc. (a)		13,536		894,459
Check Point Software Technologies, Ltd. (a)		10,699		1,171,541
Citrix Systems, Inc.		6,120		590,702
Software—(Continued)
CyberArk Software, Ltd. (a)		3,184		317,827
Dassault Systemes SE		11,142		1,587,261
Fortinet, Inc. (a)		6,882		528,262
Intuit, Inc.		12,495		3,322,920
Micro Focus International plc		29,332		413,828
Microsoft Corp. (e)		371,787		51,689,547
Nice, Ltd. (a)		5,298		762,703
Oracle Corp. (e)		108,863		5,990,731
Oracle Corp. Japan		3,319		289,346
Sage Group plc (The)		92,945		790,737
Salesforce.com, Inc. (a)		41,966		6,229,433
SAP SE		84,134		9,891,167
Symantec Corp.		30,700		725,441
Synopsys, Inc. (a)		7,172		984,357
Temenos AG (a)		5,474		917,333
Trend Micro, Inc.		10,815		516,725
				96,554,732
Specialty Retail—0.9%
ABC-Mart, Inc.		2,872		182,598
Advance Auto Parts, Inc. (b)		3,470		573,938
AutoZone, Inc. (a)		1,285		1,393,737
Best Buy Co., Inc.		11,195		772,343
CarMax, Inc. (a)		8,350		734,800
Dufry AG (a)		3,690		308,931
Fast Retailing Co., Ltd.		4,995		2,977,735
Gap, Inc. (The) (b)		10,240		177,766
Hennes & Mauritz AB - B Shares		68,773		1,334,653
Hikari Tsushin, Inc.		1,796		390,131
Home Depot, Inc. (The)		54,370		12,614,928
Industria de Diseno Textil S.A.		93,381		2,892,594
Kingfisher plc		180,212		458,118
L Brands, Inc. (b)		10,890		213,335
Lowe’s Cos., Inc.		38,570		4,241,157
Nitori Holdings Co., Ltd.		6,858		1,003,372
O’Reilly Automotive, Inc. (a)		3,865		1,540,241
Ross Stores, Inc.		17,880		1,964,118
Shimamura Co., Ltd.		1,942		154,394
Tiffany & Co. (b)		5,170		478,897
TJX Cos., Inc. (The)		59,500		3,316,530
Tractor Supply Co.		5,885		532,239
Ulta Salon Cosmetics & Fragrance, Inc. (a)		2,729		684,024
USS Co., Ltd.		18,808		366,831
Yamada Denki Co., Ltd.		53,119		257,079
				39,564,489
Technology Hardware, Storage & Peripherals—1.3%
Apple, Inc. (e)		210,049		47,044,675
Brother Industries, Ltd.		19,136		349,246
Canon, Inc.		85,634		2,286,036
FUJIFILM Holdings Corp.		30,839		1,359,080
Hewlett Packard Enterprise Co.		68,410		1,037,780
HP, Inc.		76,110		1,440,001
Konica Minolta, Inc.		38,252		267,479
NEC Corp.		21,183		897,686
NetApp, Inc.		12,070		633,796

BHFTI-16

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Technology Hardware, Storage & Peripherals—(Continued)
Ricoh Co., Ltd.		57,391	$	519,538
Seagate Technology plc (b)		12,460		670,223
Seiko Epson Corp.		23,987		339,199
Western Digital Corp.		13,824		824,463
Xerox Holdings Corp.		9,915		296,558
				57,965,760
Textiles, Apparel & Luxury Goods—0.9%
adidas AG		15,442		4,805,899
Burberry Group plc		35,218		941,984
Capri Holdings, Ltd. (a)		7,197		238,653
Cie Financiere Richemont S.A.		44,687		3,284,115
EssilorLuxottica S.A.		24,115		3,478,763
Hanesbrands, Inc.		17,322		265,373
Hermes International		2,712		1,875,805
Hugo Boss AG		5,439		291,606
Kering S.A.		6,487		3,311,690
LVMH Moet Hennessy Louis Vuitton SE		23,779		9,465,697
Moncler S.p.A.		15,330		546,820
NIKE, Inc. - Class B		61,180		5,746,026
Pandora A/S		8,948		359,593
Puma SE		7,110		550,208
PVH Corp.		3,608		318,334
Ralph Lauren Corp.		2,595		247,745
Swatch Group AG (The)		4,816		242,395
Swatch Group AG (The) - Bearer Shares		2,509		667,210
Tapestry, Inc.		13,850		360,792
Under Armour, Inc. - Class A (a)(b)		8,972		178,902
Under Armour, Inc. - Class C (a)(b)		9,156		165,998
VF Corp.		15,600		1,388,244
Yue Yuen Industrial Holdings, Ltd.		61,500		168,805
				38,900,657
Tobacco—0.5%
Altria Group, Inc.		90,325		3,694,292
British American Tobacco plc		196,360		7,259,744
Imperial Brands plc		81,902		1,839,844
Japan Tobacco, Inc.		102,727		2,251,045
Philip Morris International, Inc. (e)		74,705		5,672,351
Swedish Match AB		15,063		623,120
				21,340,396
Trading Companies & Distributors—0.4%
AerCap Holdings NV (a)		11,323		619,934
Ashtead Group plc		40,551		1,128,381
Brenntag AG		13,226		640,062
Bunzl plc		28,801		752,987
Fastenal Co.		27,500		898,425
Ferguson plc		19,858		1,450,835
ITOCHU Corp.		115,324		2,390,620
Marubeni Corp.		133,900		893,723
Mitsubishi Corp.		115,702		2,849,115
Mitsui & Co., Ltd.		141,697		2,328,239
Trading Companies & Distributors—(Continued)
MonotaRO Co., Ltd.		10,630		280,154
Sumitomo Corp.		101,721		1,595,722
Toyota Tsusho Corp.		18,186		589,767
United Rentals, Inc. (a)		3,900		486,096
WW Grainger, Inc.		2,220		659,673
				17,563,733
Transportation Infrastructure—0.2%
Aena SME S.A. (144A)		5,779		1,059,126
Aeroports de Paris		2,542		452,096
Atlantia S.p.A.		42,415		1,027,010
Auckland International Airport, Ltd.		82,698		472,764
Fraport AG Frankfurt Airport Services Worldwide		3,456		293,130
Getlink SE		37,666		565,950
Japan Airport Terminal Co., Ltd.		4,339		188,979
Kamigumi Co., Ltd.		9,303		210,754
SATS, Ltd.		57,000		199,925
Sydney Airport		94,677		513,957
Transurban Group		229,021		2,273,422
				7,257,113
Water Utilities—0.1%
American Water Works Co., Inc.		8,676		1,077,820
Severn Trent plc		20,303		540,668
United Utilities Group plc		58,373		592,492
				2,210,980
Wireless Telecommunication Services—0.5%
1&1 Drillisch AG		4,642		144,687
KDDI Corp.		151,728		3,966,189
Millicom International Cellular S.A.		5,681		275,609
NTT DoCoMo, Inc.		114,206		2,916,208
Softbank Corp. (b)		143,432		1,942,525
SoftBank Group Corp.		141,336		5,551,272
T-Mobile U.S., Inc. (a)		15,560		1,225,661
Tele2 AB - B Shares (b)		42,747		635,724
Vodafone Group plc		2,287,422		4,555,376
				21,213,251
Total Common Stocks (Cost $1,833,940,987)				2,565,864,241
U.S. Treasury & Government Agencies—24.9%
Federal Agencies—1.1%
Federal Home Loan Bank 2.500%, 02/13/24		2,345,000		2,434,096
Federal Home Loan Mortgage Corp.
2.375%, 01/13/22		8,925,000		9,064,877
2.750%, 06/19/23		9,954,000		10,357,320
6.250%, 07/15/32		2,480,000		3,662,348

BHFTI-17

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Federal Agencies—(Continued)
Federal National Mortgage Association
2.875%, 10/30/20		4,977,000	$	5,030,720
2.875%, 09/12/23		9,034,000		9,469,913
6.625%, 11/15/30		1,650,000		2,416,992
7.250%, 05/15/30		1,941,000		2,927,195
				45,363,461
U.S. Treasury—23.8%
U.S. Treasury Bonds 2.250%, 08/15/46		21,188,000		21,744,185
2.250%, 08/15/49		3,260,000		3,356,145
2.500%, 02/15/45		5,830,000		6,278,181
2.750%, 08/15/42		5,415,000		6,084,895
2.750%, 08/15/47		2,445,700		2,770,329
2.875%, 05/15/43		5,779,000		6,630,274
2.875%, 08/15/45		31,698,000		36,554,233
2.875%, 05/15/49		3,925,000		4,581,518
3.000%, 05/15/45		1,395,000		1,643,648
3.000%, 02/15/47		3,410,000		4,045,379
3.000%, 05/15/47		3,783,000		4,486,106
3.000%, 02/15/48		2,120,000		2,519,156
3.000%, 08/15/48		9,960,600		11,854,670
3.000%, 02/15/49		4,060,500		4,845,319
3.125%, 11/15/41		7,070,000		8,431,527
3.125%, 02/15/42		5,645,000		6,734,750
3.125%, 02/15/43		8,504,100		10,149,444
3.625%, 08/15/43 (b)		26,548,000		34,263,513
3.750%, 08/15/41		8,025,000		10,465,415
3.750%, 11/15/43		519,000		683,154
4.375%, 05/15/41		7,495,000		10,601,326
4.500%, 08/15/39		318,000		452,566
5.250%, 11/15/28		4,209,000		5,483,702
5.500%, 08/15/28		5,990,000		7,887,613
6.000%, 02/15/26 (g)		33,774,000		42,738,622
6.125%, 11/15/27		7,239,000		9,704,502
6.250%, 08/15/23		4,620,000		5,430,124
6.250%, 05/15/30		885,000		1,276,785
6.375%, 08/15/27		2,790,000		3,765,628
6.875%, 08/15/25		2,640,000		3,418,800
U.S. Treasury Notes 1.125%, 02/28/21		13,045,000		12,929,837
1.125%, 09/30/21		7,998,000		7,915,208
1.250%, 03/31/21		24,650,000		24,472,828
1.250%, 10/31/21		21,327,200		21,153,083
1.250%, 08/31/24 (b)		9,254,000		9,125,673
1.375%, 08/31/20		17,945,000		17,867,893
1.375%, 10/31/20		26,223,000		26,101,104
1.375%, 05/31/21		6,338,000		6,302,349
1.375%, 08/31/23		8,951,000		8,886,665
1.500%, 09/30/24		6,882,000		6,865,602
1.625%, 11/15/22 (g)		48,926,000		48,998,625
1.625%, 02/15/26		11,320,000		11,324,864
1.625%, 08/15/29 (b)		5,998,000		5,971,993
1.750%, 03/31/22		6,370,000		6,394,136
1.750%, 05/15/22		8,447,000		8,481,646
U.S. Treasury—(Continued)
U.S. Treasury Notes 1.750%, 05/31/22		6,444,000		6,468,668
1.750%, 06/30/22 (b)		5,502,000		5,526,931
1.750%, 05/15/23		58,767,000		59,113,634
1.750%, 07/31/24 (b)		6,767,000		6,828,062
1.875%, 11/30/21		17,953,100		18,047,073
1.875%, 08/31/22		11,326,000		11,421,563
1.875%, 10/31/22		8,498,000		8,573,353
2.000%, 02/15/22		22,105,600		22,308,523
2.000%, 07/31/22		6,273,500		6,346,527
2.000%, 11/30/22		8,542,000		8,650,443
2.000%, 02/15/23		18,174,000		18,423,893
2.000%, 05/31/24		15,820,000		16,138,254
2.000%, 02/15/25		7,571,600		7,731,905
2.000%, 08/15/25		17,740,000		18,134,992
2.000%, 11/15/26		4,620,000		4,737,846
2.125%, 05/31/21		10,812,000		10,885,065
2.125%, 08/15/21		19,150,000		19,304,098
2.125%, 12/31/22		8,530,000		8,676,609
2.125%, 11/30/23		22,408,000		22,901,676
2.125%, 03/31/24		6,646,000		6,807,477
2.125%, 05/15/25		36,853,000		37,899,568
2.250%, 04/30/24		7,735,000		7,969,165
2.250%, 11/15/24		16,668,500		17,218,040
2.250%, 11/15/25		9,607,000		9,963,510
2.250%, 02/15/27		10,237,000		10,680,470
2.250%, 08/15/27		5,941,000		6,211,130
2.250%, 11/15/27		15,786,000		16,514,253
2.375%, 08/15/24		2,028,700		2,104,776
2.375%, 05/15/27		6,780,500		7,144,687
2.375%, 05/15/29		9,309,000		9,888,267
2.500%, 01/31/24		7,005,100		7,276,821
2.625%, 08/15/20		7,910,000		7,962,218
2.625%, 11/15/20		21,404,900		21,595,537
2.625%, 02/15/29		9,095,000		9,846,048
2.750%, 11/15/23		25,091,500		26,265,704
2.750%, 02/15/28		2,396,000		2,601,719
2.875%, 05/15/28		4,159,000		4,565,477
2.875%, 08/15/28		3,913,300		4,303,560
3.125%, 11/15/28		10,546,600		11,843,502
3.625%, 02/15/21		33,714,200		34,564,957
				1,045,119,016
Total U.S. Treasury & Government Agencies (Cost $1,035,026,414)				1,090,482,477
Foreign Government—10.2%
Sovereign—10.2%
Australia Government Bonds 3.000%, 03/21/47 (AUD)		305,000		268,323
3.250%, 04/21/29 (AUD)		1,346,000		1,093,316
3.750%, 04/21/37 (AUD)		1,486,000		1,381,140
4.750%, 04/21/27 (AUD)		7,847,000		6,769,508
5.750%, 05/15/21 (AUD)		2,345,000		1,709,401

BHFTI-18

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Austria Government Bonds 3.150%, 06/20/44 (144A) (EUR)		1,761,000	$	3,312,651
3.400%, 11/22/22 (144A) (EUR)		1,740,000		2,142,966
4.150%, 03/15/37 (144A) (EUR)		145,000		272,400
Belgium Government Bonds 2.600%, 06/22/24 (144A) (EUR)		2,327,195		2,924,971
4.250%, 09/28/21 (144A) (EUR)		900,000		1,078,070
4.250%, 03/28/41 (144A) (EUR)		1,455,000		2,893,329
5.500%, 03/28/28 (EUR)		3,175,800		5,214,564
Bundesrepublik Deutschland 0.500%, 02/15/26 (EUR)		10,332,518		12,191,153
1.500%, 05/15/24 (EUR)		1,965,000		2,373,918
2.000%, 01/04/22 (EUR)		1,505,000		1,745,868
2.000%, 08/15/23 (EUR)		681,529		825,359
2.500%, 01/04/21 (EUR)		5,944,100		6,755,223
2.500%, 07/04/44 (EUR)		2,486,600		4,543,058
3.250%, 07/04/42 (EUR)		387,500		766,508
4.250%, 07/04/39 (EUR)		1,677,500		3,527,472
5.500%, 01/04/31 (EUR)		2,535,600		4,717,090
Canadian Government Bonds 1.500%, 06/01/26 (CAD)		3,802,000		2,891,196
1.750%, 05/01/20 (CAD)		3,474,000		2,622,262
2.750%, 06/01/22 (CAD)		1,870,000		1,456,069
3.500%, 12/01/45 (CAD)		1,500,000		1,609,767
4.000%, 06/01/41 (CAD)		975,000		1,069,854
5.750%, 06/01/29 (CAD)		1,069,000		1,125,635
Denmark Government Bonds 1.500%, 11/15/23 (DKK)		13,692,600		2,192,095
4.500%, 11/15/39 (DKK)		4,060,000		1,195,379
Finland Government Bonds 0.500%, 04/15/26 (144A) (EUR)		2,841,000		3,305,907
3.500%, 04/15/21 (144A) (EUR)		1,500,000		1,741,130
France Government Bond OAT Zero Coupon, 05/25/21 (EUR)		9,287,929		10,240,084
Zero Coupon, 05/25/22 (EUR)		1,450,000		1,611,101
0.500%, 05/25/26 (EUR)		5,972,399		6,948,575
1.000%, 11/25/25 (EUR)		9,476,406		11,316,969
1.250%, 05/25/36 (144A) (EUR)		2,719,800		3,520,133
2.250%, 05/25/24 (EUR)		2,032,800		2,518,442
2.500%, 05/25/30 (EUR)		6,542,800		9,222,731
3.250%, 05/25/45 (EUR)		6,420,900		11,902,886
Ireland Government Bonds 2.000%, 02/18/45 (EUR)		448,000		648,037
5.400%, 03/13/25 (EUR)		3,555,800		5,105,605
Italy Buoni Poliennali Del Tesoro 1.350%, 04/15/22 (EUR)		1,304,000		1,474,406
2.200%, 06/01/27 (EUR)		5,305,000		6,481,276
3.750%, 09/01/24 (EUR)		13,007,000		16,597,279
3.850%, 09/01/49 (144A) (EUR)		2,725,000		4,285,493
5.000%, 08/01/39 (144A) (EUR)		4,126,000		7,074,758
5.250%, 11/01/29 (EUR)		6,535,200		10,142,359
Japan Government Forty Year Bond 1.700%, 03/20/54 (JPY)		25,750,000		337,678
Japan Government Ten Year Bonds 0.100%, 09/20/26 (JPY)		2,292,500,000		21,895,628
0.500%, 12/20/24 (JPY)		380,650,000		3,682,404
0.800%, 09/20/22 (JPY)		1,390,000,000		13,299,520
Sovereign—(Continued)
Japan Government Thirty Year Bonds 0.500%, 09/20/46 (JPY)		1,511,600,000		14,654,237
1.800%, 09/20/43 (JPY)		796,250,000		9,991,106
1.900%, 09/20/42 (JPY)		494,400,000		6,249,582
2.300%, 03/20/40 (JPY)		554,550,000		7,270,824
Japan Government Twenty Year Bonds 0.500%, 09/20/36 (JPY)		1,082,900,000		10,685,982
1.500%, 03/20/33 (JPY)		230,600,000		2,576,343
1.700%, 12/20/31 (JPY)		698,700,000		7,890,318
1.700%, 09/20/32 (JPY)		182,400,000		2,075,117
1.700%, 09/20/33 (JPY)		418,500,000		4,803,161
2.100%, 06/20/29 (JPY)		555,050,000		6,306,035
2.100%, 12/20/29 (JPY)		555,900,000		6,360,370
2.500%, 12/21/20 (JPY)		1,827,300,000		17,478,536
Kingdom of Belgium Government Bonds 1.600%, 06/22/47 (144A) (EUR)		1,144,400		1,618,408
5.000%, 03/28/35 (144A) (EUR)		355,000		683,129
Mexican Bonos 6.500%, 06/10/21 (MXN)		43,260,000		2,184,593
10.000%, 11/20/36 (MXN)		40,732,100		2,627,235
Netherlands Government Bonds 2.250%, 07/15/22 (144A) (EUR)		2,130,000		2,521,855
3.750%, 01/15/42 (144A) (EUR)		1,396,600		2,873,016
5.500%, 01/15/28 (EUR)		3,570,500		5,880,683
Norway Government Bond 3.000%, 03/14/24 (144A) (NOK)		10,370,000		1,224,724
Poland Government Bond 5.750%, 04/25/29 (PLN)		6,492,000		2,171,042
Republic of Austria Government Bond 0.750%, 10/20/26 (144A) (EUR)		3,060,000		3,631,280
Republic of South Africa Government Bonds 6.500%, 02/28/41 (ZAR)		27,771,600		1,289,101
10.500%, 12/21/26 (ZAR)		29,175,000		2,149,453
Singapore Government Bonds 2.125%, 06/01/26 (SGD)		3,378,000		2,508,785
2.250%, 06/01/21 (SGD)		865,000		632,153
Spain Government Bonds 0.350%, 07/30/23 (EUR)		2,380,000		2,664,511
1.950%, 04/30/26 (144A) (EUR)		10,275,000		12,731,251
2.900%, 10/31/46 (144A) (EUR)		1,182,000		1,864,697
4.200%, 01/31/37 (144A) (EUR)		1,045,000		1,815,483
4.400%, 10/31/23 (144A) (EUR)		1,028,000		1,338,705
4.700%, 07/30/41 (144A) (EUR)		2,112,000		4,085,920
4.850%, 10/31/20 (144A) (EUR)		8,313,000		9,588,673
6.000%, 01/31/29 (EUR)		3,371,400		5,697,161
Sweden Government Bonds 1.000%, 11/12/26 (SEK)		15,990,000		1,795,478
1.500%, 11/13/23 (144A) (SEK)		3,330,000		367,955
Switzerland Government Bond 4.000%, 02/11/23 (CHF)		415,000		485,334
United Kingdom Gilt 0.625%, 06/07/25 (GBP)		2,535,000		3,176,061
1.750%, 09/07/22 (GBP)		2,345,178		3,005,158
2.250%, 09/07/23 (GBP)		1,170,000		1,549,029
3.250%, 01/22/44 (GBP)		2,592,900		4,759,685
4.250%, 12/07/46 (GBP)		8,873,100		19,464,512

BHFTI-19

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Shares/ Principal Amount*		Value
Sovereign—(Continued)
United Kingdom Gilt 6.000%, 12/07/28 (GBP)		3,478,400	$	6,447,249
8.000%, 06/07/21 (GBP)		1,170,000		1,622,485
Total Foreign Government (Cost $434,061,628)				444,817,361
Mutual Funds—1.7%
Investment Company Securities—1.7%
BMO Real Estate Investment, Ltd.		27,342		27,430
F&C Commercial Property Trust, Ltd.		59,969		85,974
iShares iBoxx $ High Yield Corporate Bond ETF (b)		471,205		41,074,940
Picton Property Income, Ltd. (The) (a)		62,356		67,316
Schroder Real Estate Investment Trust, Ltd.		59,099		40,272
Standard Life Investment Property Income Trust, Ltd.		46,224		50,242
UK Commercial Property Trust, Ltd.		74,372		76,814
Vanguard Global ex-U.S. Real Estate ETF		233,770		13,696,584
Vanguard REIT ETF		218,070		20,335,027
Total Mutual Funds (Cost $75,130,456)				75,454,599
Preferred Stocks—0.1%
Automobiles—0.1%
Bayerische Motoren Werke (BMW) AG		4,784		265,464
Porsche Automobil Holding SE		13,109		852,823
Volkswagen AG		15,888		2,702,563
				3,820,850
Chemicals—0.0%
FUCHS Petrolub SE		6,002		225,247
Health Care Equipment & Supplies—0.0%
Sartorius AG		3,045		555,563
Household Products—0.0%
Henkel AG & Co. KGaA		15,252		1,510,190
Total Preferred Stocks (Cost $6,287,917)				6,111,850
Rights—0.0%
Equity Real Estate Investment Trusts—0.0%
Keppel DC REIT, Expires 10/07/19 (a)		11,907		1,723
Multiline Retail—0.0%
Harvey Norman Holdings, Ltd., Expires 10/11/19 (a)		2,673		3,239
Total Rights (Cost $0)				4,962
Short-Term Investment—1.6%
Security Description	Principal Amount*		Value
Repurchase Agreement—1.6%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $69,915,083; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $71,313,444.		69,913,529		69,913,529
Total Short-Term Investments (Cost $69,913,529)				69,913,529
Securities Lending Reinvestments (h)—4.2%
Certificates of Deposit—1.9%
Banco Del Estado De Chile New York 2.222%, 1M LIBOR + 0.180%, 10/09/19 (i)		5,000,000		5,000,000
Bank of Montreal (Chicago)
2.070%, SOFR + 0.250%, 07/10/20 (i)		3,000,000		3,000,204
2.150%, 1M LIBOR + 0.100%, 10/11/19 (i)		4,000,000		3,999,928
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (i)		3,000,000		2,998,692
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (i)		2,000,000		2,000,370
Chiba Bank, Ltd. 2.250%, 10/17/19		3,000,000		3,000,156
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (i)		5,000,000		5,000,715
Credit Industriel et Commercial 2.260%, 1M LIBOR + 0.160%, 01/03/20 (i)		3,000,000		2,999,622
Credit Suisse AG 2.240%, 1M LIBOR + 0.140%, 10/02/19 (i)		8,000,000		8,000,000
DNB Bank ASA 2.020%, 03/10/20		3,000,000		2,999,358
DZ Bank AG
Zero Coupon, 10/23/19		2,982,242		2,995,980
Zero Coupon, 11/18/19		2,982,922		2,991,558
Zero Coupon, 03/10/20		1,979,188		1,981,580
Zero Coupon, 03/17/20		3,957,386		3,961,560
Industrial & Commercial Bank of China, Corp. 2.330%, 12/04/19		3,000,000		2,999,952
KBC Bank NV 2.080%, 03/12/20		2,000,000		2,000,200
Mizuho Bank, Ltd. Zero Coupon, 10/23/19		1,988,162		1,997,320
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (i)		5,000,000		4,999,200
Nationwide Building Society Zero Coupon, 10/09/19		1,996,323		1,998,940
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (i)		2,000,000		2,000,252
Royal Bank of Canada New York 2.110%, SOFR + 0.290%, 07/16/20 (i)		2,000,000		2,000,630
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (i)		4,000,000		4,000,068
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (i)		2,000,000		1,999,988
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 10/17/19		1,973,515		1,998,020

BHFTI-20

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Svenska Handelsbanken AB 2.429%, 1M LIBOR + 0.380%, 12/10/19 (i)		2,000,000	$	2,000,804
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (i)		6,000,000		6,001,398
				84,926,495
Commercial Paper—0.6%
Agricultural Bank of China 2.295%, 12/11/19		1,988,525		1,990,776
Bank of China, Ltd. 2.470%, 10/11/19		3,976,535		3,997,156
Cafco LLC 2.120%, 10/31/19		4,981,450		4,990,905
China Construction Bank Corp. 2.470%, 10/18/19		993,756		998,858
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (i)		5,000,000		5,000,810
Kells Funding LLC 2.260%, 10/28/19		1,987,068		1,996,959
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (i)		2,000,000		2,001,114
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (i)		2,000,000		2,000,056
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (i)		3,000,000		2,999,616
				25,976,250
Repurchase Agreements—1.7%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $3,017,403; collateralized by various Common Stock with an aggregate market value of $3,300,000.		3,000,000		3,000,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $8,552,785; collateralized by various Common Stock with an aggregate market value of $9,350,960.		8,500,000		8,500,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $1,002,110; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,200,080; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,224,001.		1,200,000		1,200,000
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,200,080; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,224,000.		1,200,000		1,200,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $3,746,245; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $3,820,906.		3,745,985		3,745,985
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $7,083,872; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $7,683,680.		7,000,000		7,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,400,077; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,558,203.		1,400,000		1,400,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $20,007,856; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $22,228,150.		20,000,000		20,000,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $600,236; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $666,844.		600,000		600,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $3,600,197; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,999,823.		3,600,000		3,600,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $3,100,171; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,444,292.		3,100,000		3,100,000

BHFTI-21

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,001,944; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000	$	5,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $4,001,556; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $4,444,248.		4,000,000		4,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,302,061; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,888,628.		5,300,000		5,300,000
				73,645,985
Total Securities Lending Reinvestments (Cost $184,543,967)				184,548,730
Total Investments—101.2% (Cost $3,638,904,898)				4,437,197,749
Other assets and liabilities (net)—(1.2)%				(51,633,551	)
Net Assets—100.0%			$	4,385,564,198

*	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 September 30, 2019, the market value of securities loaned was $142,241,361 and the collateral received consisted of cash in the amount of $184,433,057 and non-cash collateral with a value of $485,971. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(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 September 30, 2019, these securities represent less than 0.05% of net assets.
(e)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2019, the market value of securities pledged was $160,237,026.
(f)	Affiliated Issuer.
(g)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2019, the market value of securities pledged was $66,687,696.
(h)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(i)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 September 30, 2019, the market value of 144A securities was $86,606,829, which is 2.0% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	37,172,715	BNP		12/16/19		USD	25,346,450	$	(196,879	)
AUD	36,701,684	JPMC		12/16/19		USD	25,071,717		(240,828	)
AUD	39,384,000	MSIP		12/16/19		USD	26,678,269		(32,631	)
AUD	40,611,000	MSIP		12/16/19		USD	27,509,424		(33,648	)
CAD	8,748,585	BNP		12/16/19		USD	6,660,274		(48,636	)
CAD	69,621,415	BNP		12/16/19		USD	53,002,595		(387,050	)
CAD	67,880,000	JPMC		12/16/19		USD	51,212,392		87,099
CHF	12,243,000	UBSA		12/16/19		USD	12,453,084		(105,266	)
EUR	2,120,372	BOA		10/10/19		USD	2,388,080		(75,576	)
EUR	1,105,190	HSBCU		10/10/19		USD	1,253,920		(48,587	)
EUR	2,011,024	HSBCU		10/10/19		USD	2,236,006		(42,758	)
EUR	2,437,456	JPMC		10/10/19		USD	2,751,849		(93,530	)
EUR	1,997,089	MSIP		10/10/19		USD	2,209,363		(31,314	)
EUR	1,412,928	NWM		10/10/19		USD	1,558,341		(17,385	)
EUR	1,409,493	SSBT		10/10/19		USD	1,576,473		(39,264	)
EUR	25,521,000	NWM		12/16/19		USD	28,428,608		(451,590	)
GBP	1,174,260	SG		10/18/19		USD	1,460,540		(15,782	)
GBP	17,472,000	MSIP		12/16/19		USD	22,020,678		(471,929	)
JPY	334,035,146	SCB		11/21/19		USD	3,104,846		(5,462	)
JPY	1,442,463,000	CBNA		12/16/19		USD	13,445,212		(34,242	)
JPY	2,361,056,000	CBNA		12/16/19		USD	21,963,291		(11,913	)

BHFTI-22

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
NOK	58,653,182	BNP		12/16/19		USD	6,624,707	$	(170,008	)
NOK	152,975,853	JPMC		12/16/19		USD	17,146,139		(311,365	)
NOK	351,204,000	JPMC		12/16/19		USD	39,122,322		(472,822	)
NZD	90,134,000	CBNA		12/16/19		USD	56,843,007		(304,719	)
NZD	35,049,946	CSI		12/16/19		USD	22,678,044		(692,290	)
NZD	28,221,000	HSBCU		12/16/19		USD	18,115,929		(413,763	)
SEK	27,180,336	BNP		12/16/19		USD	2,871,404		(96,202	)
SEK	89,284,898	CBNA		12/16/19		USD	9,249,170		(132,888	)
SEK	157,780,971	CBNA		12/16/19		USD	16,344,791		(234,835	)
SEK	134,563,164	JPMC		12/16/19		USD	14,122,931		(383,590	)
Contracts to Deliver
AUD	15,784,405	BNP		11/08/19		USD	10,687,794		20,557
AUD	39,384,000	BNP		12/16/19		USD	27,088,323		442,685
AUD	73,874,399	CBNA		12/16/19		USD	50,256,010		275,550
CAD	13,504,853	GSBU		11/22/19		USD	10,179,558		(21,966	)
CAD	15,402,000	BNP		12/16/19		USD	11,665,756		25,880
CAD	8,748,585	BNP		12/16/19		USD	6,624,812		13,174
CAD	35,574,000	JPMC		12/16/19		USD	26,848,631		(35,990	)
CHF	24,378,392	BBP		12/16/19		USD	24,816,174		229,068
CHF	17,463,000	CSI		12/16/19		USD	17,830,038		217,530
CHF	13,944,499	JPMC		12/16/19		USD	14,100,402		36,519
CHF	36,479,409	MSIP		12/16/19		USD	37,789,088		997,363
CHF	490,410	SSBT		01/10/20		USD	500,156		4,334
DKK	21,538,990	CBNA		01/08/20		USD	3,219,847		49,380
EUR	2,671,488	BOA		10/10/19		USD	2,961,593		48,036
EUR	2,129,324	BOA		10/10/19		USD	2,393,358		71,092
EUR	3,929,230	CBNA		10/10/19		USD	4,377,452		92,186
EUR	1,090,335	GSBU		10/10/19		USD	1,221,979		32,847
EUR	1,988,695	HSBCU		10/10/19		USD	2,239,032		70,137
EUR	3,937,013	JPMC		10/10/19		USD	4,447,466		153,712
EUR	1,220,860	MSIP		10/10/19		USD	1,380,854		49,369
EUR	201,658,735	NWM		10/10/19		USD	227,763,458		7,832,002
EUR	1,425,514	SSBT		10/10/19		USD	1,611,052		56,370
EUR	63,365,000	GSBU		12/16/19		USD	69,548,159		85,217
EUR	35,233,493	JPMC		12/16/19		USD	39,736,004		1,111,810
EUR	63,154,513	UBSA		12/16/19		USD	70,247,522		1,015,324
EUR	11,318,000	UBSA		12/16/19		USD	12,582,843		175,653
GBP	598,144	CBNA		10/18/19		USD	733,195		(2,734	)
GBP	32,634,981	SSBT		10/18/19		USD	40,138,295		(14,341	)
GBP	10,697,000	BNP		12/16/19		USD	13,242,972		50,036
GBP	69,594,493	CBNA		12/16/19		USD	86,422,288		589,286
GBP	22,040,000	UBSA		12/16/19		USD	27,194,130		11,529
JPY	14,942,898,122	GSBU		11/21/19		USD	139,798,016		1,148,620
JPY	487,796,000	BNP		12/16/19		USD	4,551,218		16,046
JPY	3,382,598,589	GSBU		12/16/19		USD	32,197,501		748,564
JPY	3,878,500,782	JPMC		12/16/19		USD	36,677,349		617,874
JPY	6,422,619,627	NWM		12/16/19		USD	60,244,177		531,339
JPY	841,071,000	UBSA		12/16/19		USD	7,875,831		56,166
MXN	91,951,946	GSBU		10/25/19		USD	4,566,273		(75,495	)
NOK	232,258,000	JPMC		12/16/19		USD	25,577,578		17,916
NOK	10,530,651	JPMC		01/08/20		USD	1,181,426		22,113
PLN	7,780,014	MSIP		10/11/19		USD	2,049,287		108,982
SEK	38,731,107	BNP		12/16/19		USD	3,977,260		22,687
SEK	28,297,705	BNP		12/16/19		USD	2,905,864		16,575
SEK	161,743,500	JPMC		12/16/19		USD	16,639,563		125,020

BHFTI-23

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
SEK	89,284,898	JPMC		12/16/19		USD	9,185,295	$	69,013
SEK	177,223,922	UBSA		12/16/19		USD	18,208,684		113,539
SEK	129,483,266	UBSA		12/16/19		USD	13,303,621		82,954
SEK	19,172,331	GSBU		01/08/20		USD	1,991,786		30,726
SGD	4,149,414	CBNA		10/31/19		USD	2,995,716		(7,396	)
ZAR	47,703,668	SSBT		11/21/19		USD	3,231,665		102,200
Net Unrealized Appreciation								$	11,919,405

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Canada Government Bond 10 Year Futures		12/18/19		535			CAD	76,291,000		$	(428,845	)
MSCI EAFE Index Mini Futures		12/20/19		2,935			USD	278,590,200			370,179
MSCI Emerging Markets Index Mini Futures		12/20/19		868			USD	43,482,460			(943,592	)
Russell 2000 Index E-Mini Futures		12/20/19		1,750			USD	133,437,500			(4,811,855	)
S&P Midcap 400 Index E-Mini Futures		12/20/19		681			USD	131,977,800			(1,817,163	)
U.S. Treasury Note 5 Year Futures		12/31/19		218			USD	25,974,359			(177,623	)
U.S. Treasury Ultra Long Bond Futures		12/19/19		291			USD	55,844,719			(1,138,712	)
United Kingdom Long Gilt Bond Futures		12/27/19		308			GBP	41,345,920			77,430
Futures Contracts—Short
Australian 10 Year Treasury Bond Futures		12/16/19		(109	)		AUD	(16,061,074	)		(112,186	)
Euro STOXX 50 Index Futures		12/20/19		(2,534	)		EUR	(90,083,700	)		(1,195,568	)
Euro-Bund Futures		12/06/19		(688	)		EUR	(119,884,000	)		765,529
FTSE 100 Index Futures		12/20/19		(533	)		GBP	(39,354,055	)		(672,223	)
Hang Seng Index Futures		10/30/19		(263	)		HKD	(342,452,300	)		571,785
Japanese Government 10 Year Bond Futures		12/13/19		(62	)		JPY	(9,611,240,000	)		(68,738	)
S&P 500 Index E-Mini Futures		12/20/19		(2,113	)		USD	(314,678,525	)		3,471,467
SPI 200 Index Futures		12/19/19		(190	)		AUD	(31,739,500	)		(8,172	)
TOPIX Index Futures		12/12/19		(1,138	)		JPY	(18,071,440,000	)		(3,963,445	)
U.S. Treasury Note 10 Year Futures		12/19/19		(192	)		USD	(25,020,000	)		(193,468	)
Net Unrealized Depreciation										$	(10,275,200	)

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 Appreciation(1)

Pay

3M LIBOR

Quarterly

1.649%

Semi-Annually

09/24/29

USD

1,100,800,000

$

7,410,365

$

—

$

7,410,365

Centrally Cleared Credit Default Swaps on Credit Indices—Sell Protection (a)

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2019(b)			Notional Amount(c)			Market Value		Upfront Premiums Paid		Unrealized Depreciation
CDX.NA.HY.32.V2		5.000	%		Quarterly		06/20/24		3.292	%		USD	43,569,900	$	3,074,207	$	3,120,208	$	(46,001	)

BHFTI-24

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

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

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
(GSBU)—	Goldman Sachs Bank USA
(HSBCU)—	HSBC Bank USA
(JPMC)—	JPMorgan Chase Bank N.A.
(MSIP)—	Morgan Stanley & Co. International plc
(NWM)—	NatWest Markets plc
(SCB)—	Standard Chartered Bank
(SG)—	Societe Generale Paris
(SSBT)—	State Street Bank and Trust
(UBSA)—	UBS AG

Currencies

(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(HKD)—	Hong Kong Dollar
(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

(CDX.NA.HY)—	Markit North America High Yield CDS Index
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

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

BHFTI-25

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	32,934,580	$	18,376,838	$	—	$	51,311,418
Air Freight & Logistics		6,872,319		5,646,604		—		12,518,923
Airlines		4,920,867		1,441,215		—		6,362,082
Auto Components		1,467,927		11,334,048		—		12,801,975
Automobiles		4,366,260		33,825,108		—		38,191,368
Banks		67,547,311		115,522,289		0		183,069,600
Beverages		24,245,742		28,780,976		—		53,026,718
Biotechnology		26,117,381		8,330,701		—		34,448,082
Building Products		3,721,454		9,866,184		—		13,587,638
Capital Markets		32,993,921		29,303,370		—		62,297,291
Chemicals		23,919,365		39,871,151		—		63,790,516
Commercial Services & Supplies		5,205,736		7,254,460		—		12,460,196
Communications Equipment		13,453,342		4,547,229		—		18,000,571
Construction & Engineering		790,158		11,725,188		—		12,515,346
Construction Materials		1,785,963		6,952,406		—		8,738,369
Consumer Finance		8,442,782		456,963		—		8,899,745
Containers & Packaging		4,504,190		764,338		—		5,268,528
Distributors		1,177,670		187,207		—		1,364,877
Diversified Consumer Services		232,775		158,078		—		390,853
Diversified Financial Services		19,460,271		7,750,484		—		27,210,755
Diversified Telecommunication Services		25,810,788		26,079,737		—		51,890,525
Electric Utilities		25,446,063		24,406,115		—		49,852,178
Electrical Equipment		5,724,260		16,928,866		—		22,653,126
Electronic Equipment, Instruments & Components		6,355,781		19,824,025		—		26,179,806
Energy Equipment & Services		4,729,586		938,588		—		5,668,174
Entertainment		21,669,487		7,604,449		—		29,273,936
Equity Real Estate Investment Trusts		146,909,232		62,719,307		—		209,628,539
Food & Staples Retailing		19,149,618		17,308,137		—		36,457,755
Food Products		14,180,870		45,186,517		—		59,367,387
Gas Utilities		633,798		6,175,891		—		6,809,689
Health Care Equipment & Supplies		42,518,618		20,569,327		—		63,087,945
Health Care Providers & Services		31,419,652		5,766,263		—		37,185,915
Health Care Technology		1,074,359		873,054		—		1,947,413
Hotels, Restaurants & Leisure		23,448,579		17,306,776		—		40,755,355
Household Durables		4,719,833		14,212,540		—		18,932,373
Household Products		22,142,832		8,935,092		—		31,077,924
Independent Power and Renewable Electricity Producers		1,070,005		1,206,851		—		2,276,856
Industrial Conglomerates		16,364,272		14,712,825		—		31,077,097
Insurance		29,898,514		65,622,274		—		95,520,788
Interactive Media & Services		57,838,807		1,987,094		—		59,825,901
Internet & Direct Marketing Retail		44,923,695		2,838,356		—		47,762,051

BHFTI-26

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
IT Services	$	67,135,819		$	12,051,220		$	—	$	79,187,039
Leisure Products		658,136			2,923,224			—		3,581,360
Life Sciences Tools & Services		11,182,478			3,593,630			—		14,776,108
Machinery		19,036,494			31,450,370			—		50,486,864
Marine		—			2,133,065			—		2,133,065
Media		17,342,153			7,840,950			—		25,183,103
Metals & Mining		2,945,382			31,883,033			—		34,828,415
Multi-Utilities		13,478,604			11,810,699			—		25,289,303
Multiline Retail		6,796,322			5,780,018			—		12,576,340
Oil, Gas & Consumable Fuels		49,133,475			59,506,867			—		108,640,342
Paper & Forest Products		—			2,896,958			—		2,896,958
Personal Products		2,353,728			27,100,070			—		29,453,798
Pharmaceuticals		52,661,365			96,119,925			—		148,781,290
Professional Services		3,901,013			17,414,813			—		21,315,826
Real Estate Management & Development		1,363,107			55,667,481			—		57,030,588
Road & Rail		11,895,852			14,373,037			—		26,268,889
Semiconductors & Semiconductor Equipment		50,027,352			17,350,906			—		67,378,258
Software		81,385,632			15,169,100			—		96,554,732
Specialty Retail		29,238,053			10,326,436			—		39,564,489
Technology Hardware, Storage & Peripherals		51,947,496			6,018,264			—		57,965,760
Textiles, Apparel & Luxury Goods		8,910,067			29,990,590			—		38,900,657
Tobacco		9,366,643			11,973,753			—		21,340,396
Trading Companies & Distributors		2,664,128			14,899,605			—		17,563,733
Transportation Infrastructure		—			7,257,113			—		7,257,113
Water Utilities		1,077,820			1,133,160			—		2,210,980
Wireless Telecommunication Services		1,225,661			19,987,590			—		21,213,251
Total Common Stocks		1,325,915,443			1,239,948,798			0		2,565,864,241
Total U.S. Treasury & Government Agencies*		—			1,090,482,477			—		1,090,482,477
Total Foreign Government*		—			444,817,361			—		444,817,361
Total Mutual Funds*		75,106,551			348,048			—		75,454,599
Total Preferred Stocks*		—			6,111,850			—		6,111,850
Rights
Equity Real Estate Investment Trusts		—			1,723			—		1,723
Multiline Retail		3,239			—			—		3,239
Total Rights		3,239			1,723			—		4,962
Total Short-Term Investment*		—			69,913,529			—		69,913,529
Total Securities Lending Reinvestments*		—			184,548,730			—		184,548,730
Total Investments	$	1,401,025,233		$	3,036,172,516		$	0	$	4,437,197,749
Collateral for Securities Loaned (Liability)	$	—		$	(184,433,057	)	$	—	$	(184,433,057	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	17,674,079		$	—	$	17,674,079
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(5,754,674	)		—		(5,754,674	)
Total Forward Contracts	$	—		$	11,919,405		$	—	$	11,919,405
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	5,256,390		$	—		$	—	$	5,256,390
Futures Contracts (Unrealized Depreciation)		(15,531,590	)		—			—		(15,531,590	)
Total Futures Contracts	$	(10,275,200	)	$	—		$	—	$	(10,275,200	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	7,410,365		$	—	$	7,410,365
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(46,001	)		—		(46,001	)
Total Centrally Cleared Swap Contracts	$	—		$	7,364,364		$	—	$	7,364,364

* See Consolidated 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 September 30, 2019 is not presented.

BHFTI-27

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—63.6% of Net Assets

Security Description	Principal Amount*		Value
Regional Government—1.7%
Kommuninvest I Sverige AB 1.000%, 10/02/24 (SEK)		27,350,000	$	2,897,684
Province of Quebec Canada 2.750%, 09/01/25 (CAD)		18,095,000		14,300,766
				17,198,450
Sovereign—61.9%
Abu Dhabi Government International Bond 2.125%, 09/30/24 (144A)		2,890,000		2,872,660
Angolan Government International Bond 9.500%, 11/12/25		2,657,000		2,982,993
Argentine Republic Government International Bonds
5.625%, 01/26/22		102,000		43,861
6.625%, 07/06/28		8,765,000		3,637,475
6.875%, 01/26/27		10,737,000		4,498,910
6.875%, 01/11/48		10,705,000		4,496,207
7.500%, 04/22/26		1,194,000		525,372
Bahamas Government International Bond 6.000%, 11/21/28		1,040,000		1,101,110
Bahrain Government International Bonds
5.625%, 09/30/31 (144A)		1,969,000		1,986,134
6.000%, 09/19/44		2,639,000		2,590,152
7.000%, 10/12/28		459,000		514,628
Bundesrepublik Deutschland 4.250%, 07/04/39 (EUR)		5,990,000		12,595,862
Bundesrepublik Deutschland Bundesanleihe 1.500%, 09/04/22 (EUR)		20,040,000		23,348,434
Canadian Government Bond 2.250%, 03/01/24 (CAD)		42,879,000		33,479,830
Colombia Government International Bond
3.875%, 04/25/27		3,711,000		3,933,660
5.000%, 06/15/45		1,296,000		1,518,277
Costa Rica Government International Bonds
7.000%, 04/04/44		2,439,000		2,417,683
7.158%, 03/12/45		1,094,000		1,094,011
Dominican Republic International Bonds
5.875%, 04/18/24		3,215,000		3,395,876
5.950%, 01/25/27		1,746,000		1,887,880
6.500%, 02/15/48		5,012,000		5,387,950
Dubai DOF Sukuk, Ltd. 5.000%, 04/30/29		1,232,000		1,412,796
Ecuador Government International Bonds
7.950%, 06/20/24		5,860,000		5,977,259
10.750%, 03/28/22		6,960,000		7,560,300
Egypt Government International Bonds
5.577%, 02/21/23		1,732,000		1,767,568
5.625%, 04/16/30 (EUR)		1,145,000		1,247,494
7.500%, 01/31/27		1,320,000		1,416,869
8.500%, 01/31/47		6,189,000		6,546,130
El Salvador Government International Bonds
6.375%, 01/18/27		583,000		604,868
7.125%, 01/20/50 (144A)		1,017,000		1,034,797
7.750%, 01/24/23		3,015,000		3,286,380
European Financial Stability Facility 0.125%, 10/17/23 (EUR)		2,615,000		2,926,059
Sovereign—(Continued)
Finland Government Bond
0.500%, 09/15/29 (144A) (EUR)		5,210,000		6,140,951
French Republic Government Bonds OAT
1.250%, 05/25/34 (EUR)		4,391,900		5,663,386
1.500%, 05/25/50 (144A) (EUR)		2,485,000		3,436,752
2.000%, 05/25/48 (144A) (EUR)		4,807,527		7,363,221
Gabon Government International Bonds
6.375%, 12/12/24		617,900		607,550
6.950%, 06/16/25		2,724,000		2,708,364
Ghana Government International Bonds
7.625%, 05/16/29		490,000		489,672
8.950%, 03/26/51		1,583,000		1,584,953
Guatemala Government Bond 4.500%, 05/03/26		3,270,000		3,367,446
Honduras Government International Bond 7.500%, 03/15/24		3,575,000		3,959,348
Indonesia Government International Bond 4.125%, 01/15/25		5,170,000		5,501,361
Indonesia Treasury Bond 8.375%, 03/15/34 (IDR)		173,488,000,000		12,923,298
Iraq International Bond 6.752%, 03/09/23		4,271,000		4,364,706
Ireland Government Bond 1.000%, 05/15/26 (EUR)		3,555,000		4,206,903
Italy Buoni Poliennali Del Tesoro
1.200%, 04/01/22 (EUR)		2,670,000		3,008,770
1.850%, 05/15/24 (EUR)		7,925,000		9,303,248
2.200%, 06/01/27 (EUR)		5,350,000		6,536,254
3.350%, 03/01/35 (144A) (EUR)		4,689,000		6,510,619
3.850%, 09/01/49 (144A) (EUR)		4,360,000		6,856,789
Ivory Coast Government International Bonds
5.375%, 07/23/24		4,743,000		4,855,694
6.625%, 03/22/48 (EUR)		1,347,000		1,483,285
Jamaica Government International Bonds
7.625%, 07/09/25		3,530,000		4,187,498
7.875%, 07/28/45		4,733,000		6,188,445
Japan Government Thirty Year Bond 0.500%, 03/20/49 (JPY)		463,950,000		4,467,908
Japan Government Twenty Year Bonds
0.300%, 06/20/39 (JPY)		470,750,000		4,440,789
0.500%, 09/20/36 (JPY)		5,051,400,000		49,846,865
Japanese Government CPI Linked Bond 0.100%, 03/10/28 (JPY) (a)		2,846,951,172		27,449,217
Kazakhstan Government International Bond 5.125%, 07/21/25		2,039,000		2,306,884
Kenya Government International Bond 6.875%, 06/24/24		3,800,000		4,006,750
Kingdom of Belgium Government Bonds
0.800%, 06/22/25 (144A) (EUR)		7,711,052		9,050,058
1.450%, 06/22/37 (144A) (EUR)		3,865,000		5,152,283
5.000%, 03/28/35 (144A) (EUR)		2,492,000		4,795,374
Lebanon Government International Bonds
6.000%, 01/27/23		10,000,000		6,907,500
6.200%, 02/26/25		717,000		475,328
6.850%, 03/23/27		2,415,000		1,560,718

BHFTI-28

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Malaysia Government Bond 4.059%, 09/30/24 (MYR)		48,625,000	$	11,994,773
Mexican Bonos
7.500%, 06/03/27 (MXN)		115,979,700		6,101,658
8.500%, 05/31/29 (MXN)		106,303,000		5,996,633
Mongolia Government International Bond
5.625%, 05/01/23		2,488,000		2,512,860
Nigeria Government International Bonds
5.625%, 06/27/22		4,161,000		4,290,449
6.500%, 11/28/27		6,461,000		6,530,003
7.625%, 11/28/47		3,761,000		3,711,054
Oman Government International Bonds
4.750%, 06/15/26		7,279,000		6,991,188
6.000%, 08/01/29 (144A)		454,000		451,403
Pakistan Government International Bonds
3.160%, 01/23/30		2,580,000		2,661,270
6.875%, 12/05/27		2,998,000		2,953,779
8.250%, 09/30/25		271,000		292,637
Panama Government International Bonds
4.500%, 05/15/47		1,155,000		1,368,686
8.875%, 09/30/27		3,275,000		4,691,470
Perusahaan Penerbit SBSN Indonesia III 4.150%, 03/29/27		570,000		609,900
Peruvian Government International Bond 5.625%, 11/18/50		2,165,000		3,171,747
Qatar Government International Bonds
4.500%, 04/23/28		3,018,000		3,438,715
4.817%, 03/14/49		980,000		1,212,315
5.103%, 04/23/48		400,000		511,000
Republic of Austria Government Bonds
0.500%, 02/20/29 (144A) (EUR)		5,200,000		6,111,662
0.750%, 10/20/26 (144A) (EUR)		3,755,000		4,456,032
2.400%, 05/23/34 (144A) (EUR)		638,000		949,802
Republic of Azerbaijan International Bond 4.750%, 03/18/24		1,847,000		1,953,568
Republic of Cameroon International Bond 9.500%, 11/19/25		2,742,000		2,999,600
Republic of South Africa Government International Bonds
4.875%, 04/14/26		3,388,000		3,497,839
5.000%, 10/12/46		1,321,000		1,237,455
5.650%, 09/27/47		2,243,000		2,236,441
5.750%, 09/30/49		4,050,000		4,029,402
8.000%, 01/31/30 (ZAR)		8,094,742		498,799
8.250%, 03/31/32 (ZAR)		20,136,675		1,225,262
8.750%, 02/28/48 (ZAR)		7,905,295		461,695
Russian Federal Bonds - OFZ
7.000%, 08/16/23 (RUB)		158,190,000		2,473,208
7.050%, 01/19/28 (RUB)		80,945,000		1,265,028
7.100%, 10/16/24 (RUB)		51,891,000		812,958
7.400%, 07/17/24 (RUB)		527,699,000		8,366,863
Russian Foreign Bond - Eurobonds
4.750%, 05/27/26		4,000,000		4,367,384
5.250%, 06/23/47		4,400,000		5,224,630
Saudi Government International Bonds
3.625%, 03/04/28		1,897,000		2,010,516
4.375%, 04/16/29 (144A)		565,000		634,212
Sovereign—(Continued)
Saudi Government International Bonds
5.250%, 01/16/50		2,472,000		3,077,640
Senegal Government International Bonds
6.250%, 07/30/24		3,178,000		3,445,270
6.750%, 03/13/48		4,194,000		4,037,866
Singapore Government Bond 3.000%, 09/01/24 (SGD)		3,847,000		2,958,055
Spain Government Bonds
1.950%, 04/30/26 (144A) (EUR)		2,915,000		3,611,834
2.350%, 07/30/33 (144A) (EUR)		7,840,000		10,745,671
2.900%, 10/31/46 (144A) (EUR)		1,975,000		3,115,716
4.200%, 01/31/37 (144A) (EUR)		1,890,000		3,283,506
4.400%, 10/31/23 (144A) (EUR)		8,890,000		11,576,933
Sri Lanka Government International Bonds
6.850%, 11/03/25		5,505,000		5,517,002
7.850%, 03/14/29		644,000		647,259
Thailand Government Bond 2.875%, 12/17/28 (THB)		92,220,000		3,368,574
Turkey Government International Bond 4.875%, 04/16/43		6,931,000		5,558,551
Ukraine Government International Bonds
Zero Coupon, 05/31/40 (b)		1,965,000		1,832,850
6.750%, 06/20/26 (144A) (EUR)		442,000		518,800
7.750%, 09/01/24		7,670,000		8,091,850
United Kingdom Gilt
1.000%, 04/22/24 (GBP)		15,160,000		19,244,651
1.500%, 07/22/47 (GBP)		3,581,000		4,964,842
1.750%, 09/07/37 (GBP)		12,288,590		17,316,918
2.500%, 07/22/65 (GBP)		526,000		1,043,391
4.750%, 12/07/30 (GBP)		2,865,576		5,156,298
Uruguay Government International Bonds
4.975%, 04/20/55		1,232,005		1,442,998
5.100%, 06/18/50		755,000		896,570
Zambia Government International Bond 8.970%, 07/30/27		1,720,000		1,221,248
				626,775,861
Total Foreign Government (Cost $633,948,889)				643,974,311
Corporate Bonds & Notes—26.0%
Aerospace/Defense—0.2%
Bombardier, Inc. 7.500%, 03/15/25 (144A)		1,000,000		998,750
TransDigm, Inc. 6.250%, 03/15/26 (144A)		570,000		612,037
United Technologies Corp. 1.150%, 05/18/24 (EUR)		327,000		371,119
				1,981,906
Agriculture—0.3%
Altria Group, Inc. 1.700%, 06/15/25 (EUR)		1,820,000		2,066,406

BHFTI-29

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Agriculture—(Continued)
Reynolds American, Inc. 4.450%, 06/12/25		865,000	$	922,836
				2,989,242
Auto Manufacturers—0.3%
Dongfeng Motor Hong Kong International Co., Ltd. 1.150%, 10/23/21 (EUR)		337,000		374,292
Ford Motor Credit Co. LLC 3.021%, 03/06/24 (EUR)		1,290,000		1,477,420
General Motors Financial Co., Inc. 2.200%, 04/01/24 (EUR)		454,000		522,255
Harley-Davidson Financial Services, Inc. 3.350%, 02/15/23 (144A)		1,160,000		1,182,836
				3,556,803
Auto Parts & Equipment—0.2%
Panther BF Aggregator 2 L.P. / Panther Finance Co., Inc. 8.500%, 05/15/27 (144A)		1,000,000		1,012,500
Tenneco, Inc. 5.000%, 07/15/24 (EUR)		755,000		837,132
				1,849,632
Banks—8.1%
ABN AMRO Bank NV 4.750%, 5Y EUR Swap + 3.898%, 09/22/27 (EUR) (b)		800,000		909,573
AIB Group plc 4.263%, 3M LIBOR + 1.874%, 04/10/25 (144A) (b)		865,000		900,522
Allied Irish Banks plc 7.375%, 5Y EUR Swap + 7.339%, 12/03/20 (EUR) (b)		739,000		854,688
Australia & New Zealand Banking Group, Ltd. 4.400%, 05/19/26 (144A)		200,000		214,240
Banco Bilbao Vizcaya Argentaria S.A.
5.875%, 5Y EUR Swap + 5.660%, 09/24/23 (EUR) (b)		2,000,000		2,305,245
6.500%, 5Y H15 + 5.192%, 03/05/25 (b)		1,200,000		1,221,600
Banco Santander S.A. 5.179%, 11/19/25		400,000		441,369
Bangkok Bank PCL 3.733%, 5Y H15 + 1.900%, 09/25/34 (144A) (b)		955,000		966,948
Bank of China, Ltd. 4.000%, 03/08/28		3,492,000		3,758,825
Banque Centrale de Tunisie International Bond 5.750%, 01/30/25		2,600,000		2,323,958
Barclays plc
4.338%, 3M LIBOR + 1.356%, 05/16/24 (b)		1,155,000		1,206,601
7.875%, 5Y USD Swap + 6.772%, 03/15/22 (b)		1,404,000		1,484,730
BNP Paribas S.A.
3.375%, 01/23/26 (GBP)		705,000		942,602
4.375%, 09/28/25 (144A)		2,825,000		3,002,946
4.375%, 05/12/26 (144A)		200,000		213,394
4.625%, 03/13/27 (144A)		575,000		623,661
BPCE S.A. 5.150%, 07/21/24 (144A)		555,000		607,792
Banks—(Continued)
CaixaBank S.A. 6.750%, 5Y EUR Swap + 6.498%, 06/13/24 (EUR) (b)		800,000		956,758
Capital One Financial Corp.
0.800%, 06/12/24 (EUR)		407,000		451,945
3.750%, 07/28/26		2,500,000		2,600,094
Cooperatieve Rabobank UA 4.625%, 5Y EUR Swap + 4.098%, 12/29/25 (EUR) (b)		1,000,000		1,182,814
Credit Suisse AG 0.750%, 09/17/21 (EUR)		2,595,000		2,892,128
Credit Suisse Group AG 7.500%, 5Y USD Swap + 4.598%, 12/11/23 (144A) (b)		1,703,000		1,881,815
Danske Bank A/S
0.125%, 02/14/22 (EUR)		2,635,000		2,908,936
3.244%, 3M LIBOR + 1.591%, 12/20/25 (144A) (b)		977,000		984,966
5.375%, 01/12/24 (144A)		565,000		620,672
5.875%, 5Y EUR Swap + 5.471%, 04/06/22 (EUR) (b)		1,287,000		1,485,383
Dexia Credit Local S.A. 0.625%, 01/21/22 (EUR)		3,100,000		3,460,661
DNB Boligkreditt 2.750%, 03/21/22 (EUR)		2,445,000		2,876,257
Goldman Sachs Group, Inc. (The)
1.625%, 07/27/26 (EUR)		1,285,000		1,499,818
2.905%, 3M LIBOR + 0.990%, 07/24/23 (b)		600,000		608,456
5.000%, 3M LIBOR + 2.874%, 11/10/22 (b)		625,000		613,563
5.500%, 5Y H15 + 3.623%, 08/10/24 (b)		463,000		486,150
HSBC Holdings plc
4.250%, 03/14/24		575,000		605,565
4.750%, 5Y EUR Swap + 3.844%, 07/04/29 (EUR) (b)		2,849,000		3,287,703
ING Groep NV
6.500%, 5Y USD Swap + 4.446%, 04/16/25 (b)		201,000		211,010
6.750%, 5Y USD Swap + 4.204%, 04/16/24 (b)		2,500,000		2,624,385
Intesa Sanpaolo S.p.A. 3.125%, 07/14/22 (144A)		2,420,000		2,429,468
JPMorgan Chase & Co. 5.000%, SOFR + 3.380%, 08/01/24 (b)		1,036,000		1,064,490
Lloyds Banking Group plc 4.582%, 12/10/25		870,000		913,833
Morgan Stanley
1.750%, 03/11/24 (EUR)		1,270,000		1,477,133
1.875%, 03/30/23 (EUR)		1,255,000		1,450,905
National Bank of Canada 0.500%, 01/26/22 (EUR)		2,570,000		2,860,776
Nordea Bank Abp 6.125%, 5Y USD Swap + 3.388%, 09/23/24 (b)		903,000		940,249
Nordea Hypotek AB 1.000%, 09/18/24 (SEK)		27,700,000		2,934,677
Santander Holdings USA, Inc. 4.400%, 07/13/27		2,500,000		2,674,622
Santander UK plc 4.250%, 04/12/21 (EUR)		2,450,000		2,859,959

BHFTI-30

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Skandinaviska Enskilda Banken AB 5.625%, 5Y USD Swap + 3.493%, 05/13/22 (b)		2,600,000	$	2,639,000
Societe Generale S.A. 5.000%, 01/17/24 (144A)		1,135,000		1,220,031
Standard Chartered plc
3.785%, 3M LIBOR + 1.560%, 05/21/25 (144A) (b)		1,018,000		1,050,878
3.885%, 3M LIBOR + 1.080%, 03/15/24 (144A) (b)		580,000		598,780
UBS Group Funding Switzerland AG 6.875%, 5Y USD ICE Swap + 5.497%, 03/22/21 (b)		1,418,000		1,471,175
Wells Fargo & Co. 2.000%, 07/28/25 (GBP)		400,000		503,282
Zions Bancorp N.A. 4.500%, 06/13/23		570,000		601,572
				81,908,603
Beverages—0.1%
Anheuser-Busch InBev Worldwide, Inc. 5.550%, 01/23/49		695,000		909,995
Biotechnology—0.1%
Amgen, Inc. 4.663%, 06/15/51		765,000		890,686
Building Materials—0.3%
Johnson Controls International plc 1.375%, 02/25/25 (EUR)		2,345,000		2,678,199
Chemicals—0.5%
Alpek S.A.B. de C.V.
4.250%, 09/18/29 (144A)		224,000		225,680
Braskem Netherlands Finance B.V. 4.500%, 01/10/28		949,000		950,186
CNAC HK Finbridge Co., Ltd. 4.125%, 07/19/27		2,525,000		2,655,208
Equate Petrochemical B.V. 3.000%, 03/03/22 (144A)		400,000		401,640
SASOL Financing USA LLC 5.875%, 03/27/24		825,000		891,335
				5,124,049
Commercial Services—0.3%
DP World plc
2.375%, 09/25/26 (EUR)		510,000		600,345
5.625%, 09/25/48		665,000		768,075
Hertz Corp. (The) 6.250%, 10/15/22		1,000,000		1,008,750
Intertrust Group B.V. 3.375%, 11/15/25 (EUR)		505,000		578,634
				2,955,804
Computers—0.8%
Apple, Inc. 2.513%, 08/19/24 (CAD)		2,770,000		2,123,105
Dell International LLC / EMC Corp. 5.300%, 10/01/29 (144A)		2,500,000		2,720,221
Computers—(Continued)
International Business Machines Corp. 0.875%, 01/31/25 (EUR)		2,075,000		2,354,397
Seagate HDD Cayman 4.750%, 01/01/25		443,000		459,224
Western Digital Corp. 4.750%, 02/15/26		905,000		931,019
				8,587,966
Diversified Financial Services—0.8%
Capital One Financial Corp. 1.650%, 06/12/29 (EUR)		874,000		994,231
GE Capital International Funding Co. 3.373%, 11/15/25		2,500,000		2,550,806
Intercorp Peru, Ltd. 3.875%, 08/15/29 (144A)		303,000		304,518
Navient Corp. 6.625%, 07/26/21		560,000		588,000
Power Finance Corp., Ltd. 6.150%, 12/06/28		887,000		1,033,318
REC, Ltd. 5.250%, 11/13/23		709,000		762,095
Synchrony Financial 4.250%, 08/15/24		1,170,000		1,234,434
Unifin Financiera S.A.B. de C.V. 7.000%, 01/15/25		719,000		711,450
				8,178,852
Electric—1.6%
Abu Dhabi National Energy Co. PJSC 4.000%, 10/03/49 (144A)		1,200,000		1,207,500
Colbun S.A.
3.950%, 10/11/27		200,000		207,752
Empresas Publicas de Medellin E.S.P. 4.250%, 07/18/29 (144A)		897,000		943,106
Enel Americas S.A. 4.000%, 10/25/26		944,000		988,840
Enel Chile S.A. 4.875%, 06/12/28		571,000		642,090
Enel Generacion Chile S.A. 4.250%, 04/15/24		240,000		253,825
Infraestructura Energetica Nova S.A.B. de C.V. 4.875%, 01/14/48		1,095,000		1,045,725
Perusahaan Listrik Negara PT
3.875%, 07/17/29 (144A)		988,000		1,022,544
4.875%, 07/17/49 (144A)		1,331,000		1,446,573
5.450%, 05/21/28		1,537,000		1,769,887
6.150%, 05/21/48		1,141,000		1,460,337
Star Energy Geothermal Wayang Windu, Ltd. 6.750%, 04/24/33		895,730		932,880
State Grid Overseas Investment 2014, Ltd. 4.125%, 05/07/24		3,645,000		3,916,877
				15,837,936

BHFTI-31

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Energy-Alternate Sources—0.1%
Greenko Dutch B.V. 5.250%, 07/24/24		472,000	$	472,000
ReNew Power Synthetic 6.670%, 03/12/24		318,000		322,294
				794,294
Engineering & Construction—0.3%
Aeropuerto Internacional de Tocumen S.A. 6.000%, 11/18/48		1,900,000		2,396,394
Bioceanico Sovereign Certificate, Ltd. Zero Coupon, 06/05/34 (144A)		946,000		656,288
				3,052,682
Food—0.6%
BRF S.A. 4.875%, 01/24/30 (144A)		538,000		531,275
Cosan, Ltd. 5.500%, 09/20/29 (144A)		1,088,000		1,116,832
Kraft Heinz Foods Co.
3.750%, 04/01/30 (144A)		1,068,000		1,078,248
3.950%, 07/15/25		241,000		252,291
MARB BondCo plc 6.875%, 01/19/25		595,000		622,073
Marfrig Holdings Europe B.V. 8.000%, 06/08/23		935,000		971,241
Minerva Luxembourg S.A.
6.500%, 09/20/26 (144A)		600,000		624,120
6.500%, 09/20/26		625,000		650,125
NBM U.S. Holdings, Inc. 7.000%, 05/14/26 (144A)		690,000		723,637
				6,569,842
Forest Products & Paper—0.0%
Celulosa Arauco y Constitucion S.A.
5.500%, 04/30/49 (144A)		311,000		344,433
Healthcare-Products—0.4%
Baxter International, Inc.
0.400%, 05/15/24 (EUR)		1,640,000		1,805,930
1.300%, 05/30/25 (EUR)		345,000		397,045
DH Europe Finance II Sarl 0.450%, 03/18/28 (EUR)		747,000		815,362
Medtronic Global Holdings SCA 0.375%, 03/07/23 (EUR)		1,040,000		1,146,841
				4,165,178
Healthcare-Services—0.1%
CHS/Community Health Systems, Inc. 6.250%, 03/31/23		1,000,000		993,350
Holding Companies-Diversified—0.2%
KOC Holding 6.500%, 03/11/25		2,190,000		2,239,643
Housewares—0.2%
Turkiye Sise ve Cam Fabrikalari 6.950%, 03/14/26		1,735,000		1,782,713
Insurance—0.9%
Assicurazioni Generali S.p.A. 5.500%, 3M EURIBOR + 5.350%, 10/27/47 (EUR) (b)		236,000		309,050
Caisse Nationale de Reassurance Mutuelle Agricole Groupama 6.000%, 01/23/27 (EUR)		1,100,000		1,525,725
Chubb INA Holdings, Inc. 0.875%, 06/15/27 (EUR)		452,000		508,413
CNP Assurances 1.875%, 10/20/22 (EUR)		1,000,000		1,146,270
Credit Agricole Assurances S.A. 4.750%, 5Y EUR Swap + 5.350%, 09/27/48 (EUR) (b)		1,200,000		1,567,318
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 3.250%, 3M EURIBOR + 3.400%, 05/26/49 (EUR) (b)		1,200,000		1,553,125
Nationwide Mutual Insurance Co. 9.375%, 08/15/39 (144A)		567,000		980,262
Principal Financial Group, Inc. 4.700%, 3M LIBOR + 3.044%, 05/15/55 (b)		300,000		298,875
Prudential Financial, Inc. 5.375%, 3M LIBOR + 3.031%, 05/15/45 (b)		866,000		917,960
Voya Financial, Inc. 5.650%, 3M LIBOR + 3.580%, 05/15/53 (b)		589,000		621,136
				9,428,134
Internet—0.2%
Baidu, Inc.
3.875%, 09/29/23		580,000		603,466
4.875%, 11/14/28		842,000		946,304
				1,549,770
Investment Company Security—0.2%
MDC-GMTN B.V. 4.500%, 11/07/28		1,356,000		1,560,865
Iron/Steel—0.4%
ABJA Investment Co. Pte, Ltd. 5.450%, 01/24/28		940,000		915,737
CSN Resources S.A. 7.625%, 02/13/23		1,062,000		1,108,462
Gerdau Trade, Inc. 4.875%, 10/24/27		1,000,000		1,048,760
Usiminas International Sarl 5.875%, 07/18/26 (144A)		791,000		798,673
				3,871,632

BHFTI-32

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Mining—0.7%
Corp. Nacional del Cobre de Chile 3.000%, 09/30/29 (144A)		1,605,000	$	1,599,174
Glencore Finance Europe, Ltd. 1.750%, 03/17/25 (EUR)		1,280,000		1,460,641
Gold Fields Orogen Holdings BVI, Ltd. 5.125%, 05/15/24 (144A)		795,000		839,957
Nexa Resources S.A. 5.375%, 05/04/27		1,228,000		1,303,522
Press Metal Labuan, Ltd. 4.800%, 10/30/22		951,000		913,435
Vedanta Resources, Ltd. 6.125%, 08/09/24		1,364,000		1,255,562
				7,372,291
Miscellaneous Manufacturing—0.1%
General Electric Co. 0.875%, 05/17/25 (EUR)		1,155,000		1,265,245
Multi-National—0.9%
European Investment Bank 1.250%, 05/12/25 (SEK)		80,770,000		8,763,714
Oil & Gas—3.4%
Eni S.p.A. 4.250%, 05/09/29 (144A)		1,173,000		1,282,592
Gran Tierra Energy International Holdings, Ltd. 6.250%, 02/15/25		1,271,000		1,134,367
Gran Tierra Energy, Inc. 7.750%, 05/23/27 (144A)		879,000		826,260
KazMunayGas National Co. JSC
4.400%, 04/30/23		4,304,000		4,520,457
5.750%, 04/19/47		2,334,000		2,735,868
Medco Oak Tree Pte, Ltd.
7.375%, 05/14/26 (144A)		830,000		836,614
7.375%, 05/14/26		432,000		435,443
Oil and Gas Holding Co. BSCC (The) 7.625%, 11/07/24		1,079,000		1,222,455
Oil India, Ltd. 5.375%, 04/17/24		861,000		948,443
PDC Energy, Inc. 5.750%, 05/15/26		590,000		581,209
Pertamina Persero PT
5.625%, 05/20/43		1,588,000		1,846,181
6.000%, 05/03/42		325,000		394,459
6.450%, 05/30/44		299,000		384,538
6.500%, 05/27/41		744,000		948,907
Petrobras Global Finance B.V.
5.093%, 01/15/30 (144A)		1,094,000		1,141,206
6.750%, 01/27/41		960,000		1,099,690
6.850%, 06/05/15		551,000		629,628
Petroleos Mexicanos
6.500%, 03/13/27		2,524,000		2,627,484
6.750%, 09/21/47		1,283,000		1,231,423
6.840%, 01/23/30 (144A)		1,098,000		1,135,552
7.690%, 01/23/50 (144A)		2,391,813		2,494,182
Oil & Gas—(Continued)
Sinopec Group Overseas Development 2015, Ltd. 3.250%, 04/28/25		2,972,000		3,068,620
State Oil Co. of the Azerbaijan Republic 6.950%, 03/18/30		701,000		837,695
Tengizchevroil Finance Co. International, Ltd. 4.000%, 08/15/26 (144A)		895,000		934,163
Transocean Poseidon, Ltd. 6.875%, 02/01/27 (144A)		560,000		576,800
UGI International LLC 3.250%, 11/01/25 (EUR)		510,000		587,671
				34,461,907
Oil & Gas Services—0.1%
Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor, Inc. 4.080%, 12/15/47		910,000		917,266
Packaging & Containers—0.1%
ARD Finance S.A. 7.125%, 7.875% PIK, 09/15/23 (c)		1,000,000		1,030,000
Trivium Packaging Finance B.V. 5.500%, 08/15/26 (144A)		247,000		259,646
				1,289,646
Pharmaceuticals—0.7%
AbbVie, Inc. 3.200%, 05/14/26		2,500,000		2,545,699
Allergan Funding SCS 2.625%, 11/15/28 (EUR)		796,000		994,513
CVS Health Corp. 4.100%, 03/25/25		580,000		619,321
Mylan NV 3.950%, 06/15/26		2,700,000		2,794,027
				6,953,560
Pipelines—1.1%
Boardwalk Pipelines L.P. 4.800%, 05/03/29		1,095,000		1,163,183
Enable Midstream Partners L.P. 4.950%, 05/15/28		2,500,000		2,596,988
Energy Transfer Operating L.P.
4.250%, 03/15/23		865,000		903,786
5.500%, 06/01/27		2,775,000		3,134,232
GNL Quintero S.A. 4.634%, 07/31/29		400,000		428,004
Peru LNG Srl 5.375%, 03/22/30		805,000		835,187
Southern Gas Corridor CJSC
6.875%, 03/24/26		1,139,000		1,320,648
Transportadora de Gas del Peru S.A. 4.250%, 04/30/28		215,000		228,171

BHFTI-33

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—(Continued)
Transportadora de Gas Internacional S.A. ESP 5.550%, 11/01/28		854,000	$	984,244
				11,594,443
Real Estate Investment Trusts—0.1%
WPC Eurobond B.V. 2.125%, 04/15/27 (EUR)		1,300,000		1,507,217
Semiconductors—0.4%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.875%, 01/15/27		2,500,000		2,512,923
Broadcom, Inc. 4.250%, 04/15/26 (144A)		600,000		619,870
NXP B.V. / NXP Funding LLC 3.875%, 06/18/26 (144A)		624,000		656,177
				3,788,970
Software—0.2%
Fidelity National Information Services, Inc. 1.500%, 05/21/27 (EUR)		1,317,000		1,537,460
Fiserv, Inc.
1.125%, 07/01/27 (EUR)		786,000		890,890
				2,428,350
Sovereign—0.2%
CBB International Sukuk Programme Co. SPC 4.500%, 03/30/27 (144A)		1,797,000		1,808,012
Telecommunications—0.5%
Altice France S.A. 7.375%, 05/01/26 (144A)		1,000,000		1,073,460
AT&T, Inc.
3.400%, 05/15/25		1,467,000		1,531,803
3.550%, 06/01/24		570,000		596,164
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 4.738%, 03/20/25 (144A)		1,455,000		1,546,680
				4,748,107
Transportation—0.2%
Lima Metro Line 2 Finance, Ltd.
4.350%, 04/05/36 (144A)		296,000		314,870
5.875%, 07/05/34		970,000		1,066,709
MV24 Capital B.V. 6.748%, 06/01/34 (144A)		387,000		399,210
				1,780,789
Water—0.1%
Veolia Environnement S.A. 0.314%, 10/04/23 (EUR)		700,000		773,523
Total Corporate Bonds & Notes (Cost $256,808,091)				263,255,249
U.S. Treasury & Government Agencies—5.1%
Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—3.7%
Connecticut Avenue Securities Trust
4.018%, 1M LIBOR + 2.000%, 07/25/39 (144A) (b)		563,408	$	564,764
4.168%, 1M LIBOR + 2.150%, 09/25/31 (144A) (b)		5,000,000		5,023,879
4.318%, 1M LIBOR + 2.300%, 08/25/31 (144A) (b)		5,000,000		5,025,646
4.418%, 1M LIBOR + 2.400%, 04/25/31 (144A) (b)		5,000,000		5,048,618
Fannie Mae Connecticut Avenue Securities
4.118%, 1M LIBOR + 2.100%, 03/25/31 (b)		5,000,000		5,032,070
4.268%, 1M LIBOR + 2.250%, 07/25/30 (b)		5,000,000		5,046,199
4.418%, 1M LIBOR + 2.400%, 05/25/30 (b)		5,000,000		5,059,081
Freddie Mac STACR Trust
4.068%, 1M LIBOR + 2.050% 07/25/49 (144A) (b)		165,721		166,278
4.668%, 1M LIBOR + 2.650%, 01/25/49 (144A) (b)		5,000,000		5,077,600
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO)
7.168%, 1M LIBOR + 5.150%, 11/25/28 (b)		1,910,000		2,075,305
				38,119,440
U.S. Treasury—1.4%
U.S. Treasury Inflation Indexed Notes 0.125%, 07/15/26 (a) (d)		3,077,170		3,072,564
U.S. Treasury Notes
1.375%, 08/31/26		2,460,000		2,420,506
1.625%, 08/15/29 (d)		8,874,800		8,836,319
				14,329,389
Total U.S. Treasury & Government Agencies (Cost $52,674,311)				52,448,829
Asset-Backed Securities—1.6%
Asset-Backed - Automobile—0.1%
Hertz Vehicle Financing II L.P. 5.310%, 10/25/23 (144A)		1,000,000		1,053,412
Asset-Backed - Other—1.5%
Black Diamond CLO, Ltd. 3.708%, 3M LIBOR + 1.430%, 07/23/32 (144A) (b)		2,121,980		2,121,836
CIFC Funding, Ltd. 3.498%, 3M LIBOR + 1.220%, 07/20/30 (144A) (b)		3,000,000		2,999,958
Marlette Funding Trust
3.690%, 03/15/28 (144A)		1,000,000		1,008,511
4.370%, 07/17/28 (144A)		500,000		510,203
Octagon Investment Partners, Ltd. 3.598%, 3M LIBOR + 1.320%, 03/17/30 (144A) (b)		3,000,000		3,003,156
OZLM, Ltd. 3.853%, 3M LIBOR + 1.550%, 04/15/31 (144A)		3,000,000		2,950,185
Sofi Consumer Loan Program LLC 4.550%, 09/25/28 (144A) (b)		750,000		772,160
Vibrant CLO XI, Ltd. 3.623%, 3M LIBOR + 1.370%, 07/20/32 (144A) (b)		1,300,000		1,299,911
				14,665,920
Total Asset-Backed Securities (Cost $15,687,598)				15,719,332

BHFTI-34

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mortgage-Backed Securities—0.3%

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—0.2%
Bellemeade Re, Ltd.
3.618%, 1M LIBOR + 1.600%, 07/25/29 (144A) (b)		766,877	$	767,659
PMT Credit Risk Transfer Trust 4.890%, 1M LIBOR + 2.750%, 05/27/23 (144A) (b) (e)		909,570		912,684
				1,680,343
Commercial Mortgage-Backed Securities—0.1%
Commercial Mortgage Trust 4.461%, 12/10/45 (144A) (b)		1,285,000		1,256,094
Total Mortgage-Backed Securities (Cost $2,921,240)				2,936,437
Short-Term Investments—2.0%
Repurchase Agreement—1.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $18,381,236; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $18,751,500.		18,380,827		18,380,827
U.S. Treasury—0.2%
U.S. Treasury Bill 1.952%, 11/07/19 (d) (f)		2,000,000		1,996,468
Total Short-Term Investments (Cost $20,376,814)				20,377,295
Total Investments—98.6% (Cost $982,416,943)				998,711,453
Other assets and liabilities (net)—1.4%				14,182,195
Net Assets—100.0%			$	1,012,893,648

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Principal amount of security is adjusted for inflation.
(b)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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)	All or a portion of the security was pledged as collateral against open OTC swap contracts and open forward foreign currency exchange contracts. As of September 30, 2019, the market value of securities pledged was $4,198,976.
(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 September 30, 2019, the market value of restricted securities was $912,684, which is 0.1% of net assets. See details shown in the Restricted Securities table that follows.
(f)	The rate shown represents current yield to maturity.
(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 September 30, 2019, the market value of 144A securities was $192,643,696, which is 19.0% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
PMT Credit Risk Transfer Trust, 4.890%, 05/27/23		06/07/19	$	909,570	$	909,570	$	912,684

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
BRL	63,700,000	CBNA		10/02/19		USD	15,355,133	$	(24,022	)
BRL	63,700,000	DBAG		10/02/19		USD	15,296,321		34,790
BRL	63,700,000	DBAG		11/04/19		USD	15,216,846		78,924
COP	17,589,764,937	CBNA		11/14/19		USD	5,226,882		(182,021	)
CZK	88,723	JPMC		10/11/19		USD	3,901		(151	)
EUR	862,949	CBNA		10/10/19		USD	973,758		(32,615	)
EUR	674,092	GSI		10/10/19		USD	738,482		(3,309	)
EUR	839,056	GSI		10/10/19		USD	917,976		(2,892	)
EUR	2,360,879	GSI		10/10/19		USD	2,586,930		(12,128	)

BHFTI-35

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	3,397,673	GSI		10/10/19		USD	3,766,313	$	(60,770	)
EUR	14,375,531	GSI		10/10/19		USD	15,857,361		(179,233	)
EUR	209,101	JPMC		10/10/19		USD	228,953		(905	)
EUR	255,995	JPMC		10/10/19		USD	286,995		(7,804	)
EUR	270,633	JPMC		10/10/19		USD	305,643		(10,487	)
EUR	540,183	JPMC		10/10/19		USD	591,656		(2,526	)
EUR	748,813	JPMC		10/10/19		USD	832,291		(15,626	)
EUR	1,184,392	JPMC		10/10/19		USD	1,312,912		(21,201	)
EUR	1,303,896	JPMC		10/10/19		USD	1,441,316		(19,271	)
EUR	5,186,104	JPMC		10/10/19		USD	5,836,887		(180,860	)
EUR	8,225,143	JPMC		10/10/19		USD	9,099,673		(129,233	)
EUR	8,626,315	JPMC		10/10/19		USD	9,718,281		(310,317	)
EUR	13,185,245	JPMC		10/10/19		USD	14,688,310		(308,322	)
EUR	13,671,686	JPMC		10/10/19		USD	15,302,418		(391,911	)
EUR	1,346,320	MSC		10/10/19		USD	1,496,909		(28,596	)
EUR	1,814,368	MSC		10/10/19		USD	2,042,609		(63,837	)
EUR	796,048	SCB		10/10/19		USD	898,289		(30,109	)
EUR	2,627,595	SCB		10/10/19		USD	2,946,040		(80,353	)
EUR	3,194,296	SCB		10/10/19		USD	3,622,663		(138,924	)
EUR	5,465,147	SCB		10/10/19		USD	6,115,813		(155,457	)
GBP	2,932,628	DBAG		10/18/19		USD	3,621,276		(13,101	)
GBP	1,114,667	JPMC		10/18/19		USD	1,372,572		(1,136	)
ILS	35,506,527	CSI		10/16/19		USD	10,220,573		590
INR	4,948,047	CBNA		10/24/19		USD	71,292		(1,628	)
INR	695,414,531	CSI		10/24/19		USD	10,016,774		(225,871	)
JPY	761,919,851	CBNA		11/21/19		USD	7,101,989		(32,428	)
JPY	1,862,339,928	GSI		11/21/19		USD	17,421,409		(141,474	)
MXN	92,925,222	CSI		10/25/19		USD	4,579,453		111,446
MXN	208,034,277	JPMC		10/25/19		USD	10,641,564		(139,919	)
PLN	56,579,518	CBNA		10/11/19		USD	14,896,128		(785,424	)
RUB	574,624,628	CBNA		11/14/19		USD	8,907,114		(95,767	)
Contracts to Deliver
BRL	63,700,000	CBNA		10/02/19		USD	15,296,321		(34,790	)
BRL	63,700,000	DBAG		10/02/19		USD	15,246,529		(84,582	)
CAD	65,000,682	GSI		11/22/19		USD	48,995,588		(105,725	)
CAD	26,341,266	GSI		11/22/19		USD	19,855,265		(42,845	)
CLP	7,237,930,989	JPMC		11/14/19		USD	10,195,705		260,808
EUR	251,610,235	CBNA		10/10/19		USD	284,333,405		9,924,237
EUR	19,545,667	CBNA		10/10/19		USD	22,086,892		770,150
EUR	3,725,794	CBNA		10/10/19		USD	4,150,809		87,413
EUR	3,479,842	CBNA		10/10/19		USD	3,932,273		137,115
EUR	3,090,558	CBNA		10/10/19		USD	3,492,376		121,776
EUR	2,399,234	CSI		10/10/19		USD	2,703,510		86,876
EUR	4,607,925	DBAG		10/10/19		USD	5,222,903		197,444
EUR	3,517,974	GSI		10/10/19		USD	3,892,459		55,714
EUR	971,506	GSI		10/10/19		USD	1,100,763		41,227
EUR	568,563	GSI		10/10/19		USD	626,367		6,285
EUR	5,821,447	JPMC		10/10/19		USD	6,529,387		180,447
EUR	2,190,755	JPMC		10/10/19		USD	2,430,601		41,337
EUR	426,052	JPMC		10/10/19		USD	478,291		13,633
EUR	391,482	JPMC		10/10/19		USD	432,916		5,961
EUR	207,376	JPMC		10/10/19		USD	230,725		4,559
EUR	115,826	JPMC		10/10/19		USD	128,325		2,004
EUR	4,112,759	MSC		10/10/19		USD	4,647,754		162,329
EUR	2,270,897	MSC		10/10/19		USD	2,541,226		64,559

BHFTI-36

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	4,415,427	SCB		10/10/19		USD	4,982,526	$	167,008
GBP	10,313,431	CBNA		10/18/19		USD	12,886,778		197,588
GBP	25,555,550	GSI		10/18/19		USD	31,351,420		(90,997	)
GBP	5,837,824	SCB		10/18/19		USD	7,261,570		78,970
GBP	2,342,103	SCB		10/18/19		USD	2,875,297		(6,322	)
HUF	2,464,319	JPMC		10/11/19		USD	8,534		508
IDR	150,658,076,055	GSI		11/21/19		USD	10,588,844		30,941
IDR	24,992,691,640	GSI		11/21/19		USD	1,756,585		5,133
IDR	14,925,164,076	GSI		11/21/19		USD	1,048,999		3,065
ILS	35,342,377	GSI		10/16/19		USD	9,994,733		(179,177	)
INR	690,752,835	JPMC		10/24/19		USD	9,620,513		(104,757	)
JPY	9,170,862,929	GSI		11/21/19		USD	85,797,844		704,939
KRW	8,858,330	MSC		10/30/19		USD	7,350		(61	)
MXN	301,708,193	GSI		10/25/19		USD	14,982,629		(247,709	)
MXN	121,607,084	GSI		10/25/19		USD	6,038,927		(99,842	)
MXN	118,769,046	GSI		10/25/19		USD	5,897,992		(97,512	)
MYR	48,625,000	GSI		02/13/20		USD	11,547,961		(40,074	)
NZD	15,659,601	SCB		11/07/19		USD	9,981,235		167,270
PLN	37,228,481	CBNA		10/11/19		USD	9,816,040		531,406
PLN	19,366,741	CSI		10/11/19		USD	4,880,317		50,329
RUB	385,404,934	CBNA		11/14/19		USD	5,974,066		64,232
RUB	349,985,040	CBNA		11/14/19		USD	5,425,031		58,329
RUB	232,029,341	SCB		11/14/19		USD	3,575,182		17,223
SEK	143,138,547	GSI		01/08/20		USD	14,891,651		250,590
SGD	4,064,565	CBNA		10/31/19		USD	2,934,458		(7,245	)
SGD	13,979,706	JPMC		10/31/19		USD	10,172,724		55,000
SGD	77,702	JPMC		10/31/19		USD	56,149		(88	)
THB	94,869,947	JPMC		10/30/19		USD	3,074,424		(28,874	)
ZAR	15,199,673	GSI		11/21/19		USD	1,033,445		36,314
ZAR	10,427,617	GSI		11/21/19		USD	708,987		24,913
ZAR	438,621	JPMC		11/21/19		USD	29,777		1,002
Net Unrealized Appreciation								$	9,834,156

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Canada Government Bond 10 Year Futures		12/18/19		33			CAD	4,705,800		$	(27,229	)
Euro-Bund 10 Year Futures		12/06/19		96			EUR	16,728,000			(165,470	)
Euro-Buxl 30 Year Bond Futures		12/06/19		11			EUR	2,392,500			30,679
U.S. Treasury Long Bond Futures		12/19/19		61			USD	9,901,063			(153,541	)
U.S. Treasury Note 10 Year Futures		12/19/19		270			USD	35,184,375			(150,750	)
U.S. Treasury Note Ultra 10 Year Futures		12/19/19		118			USD	16,803,938			(155,898	)
U.S. Treasury Ultra Long Bond Futures		12/19/19		21			USD	4,030,031			(82,227	)
Futures Contracts—Short
Euro-Bobl Futures		12/06/19		(94	)		EUR	(12,751,100	)		95,586
U.S. Treasury Note 2 Year Futures		12/31/19		(262	)		USD	(56,461,000	)		103,636
U.S. Treasury Note 5 Year Futures		12/31/19		(154	)		USD	(18,348,859	)		57,762
Net Unrealized Depreciation										$	(447,452	)

BHFTI-37

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (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 Appreciation/ (Depreciation)
Pay	3M CDOR		Semi-Annually	1.980%	Semi-Annually		05/22/24		CAD	24,970,000	$	204,015		$	17	$	203,998
Receive	3M LIBOR		Quarterly	2.200%	Semi-Annually		05/24/24		USD	9,310,000		(289,797	)		—		(289,797	)
Receive	3M LIBOR		Quarterly	2.288%	Semi-Annually		05/24/21		USD	22,930,000		(224,203	)		—		(224,203	)
Totals											$	(309,985	)	$	17	$	(310,002	)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2019(b)			Notional Amount(c)			Market Value		Upfront Premiums Paid		Unrealized Depreciation
Turkey Government International Bond 11.875%, due 01/15/30		(1.000	%)		Quarterly		06/20/24		3.408	%		USD	3,190,000	$	324,377	$	466,415	$	(142,038	)
Turkey Government International Bond 11.875%, due 01/15/30		(1.000	%)		Quarterly		06/20/24		3.408	%		USD	2,510,000		255,230		359,495		(104,265	)
Turkey Government International Bond 11.875%, due 01/15/30		(1.000	%)		Quarterly		06/20/24		3.408	%		USD	670,000		68,129		88,826		(20,697	)
Turkey Government International Bond 11.875%, due 01/15/30		(1.000	%)		Quarterly		12/20/24		3.525	%		USD	6,370,000		738,732		815,187		(76,455	)
Totals														$	1,386,468	$	1,729,923	$	(343,455	)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2019(b)			Notional Amount(c)			Market Value			Upfront Premiums (Received)			Unrealized Appreciation
Turkey Government International Bond 11.875%, due 01/15/30		1.000	%		Quarterly		06/20/24		3.408	%		USD	6,370,000	$	(647,736	)	$	(716,424	)	$	68,688

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 September 30, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium (Received)			Unrealized Appreciation
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CGM		0.000	%		USD	5,000,000	$	(778,955	)	$	(1,001,346	)	$	222,391
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	GSI		0.000	%		USD	5,000,000		(778,955	)		(1,041,946	)		262,991
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	JPMC		0.000	%		USD	2,500,000		(389,478	)		(509,457	)		119,979
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	JPMC		0.000	%		USD	5,000,000		(778,955	)		(1,037,366	)		258,411
CMBX.NA.BBB-6		3.000	%		Monthly		05/11/63	JPMC		0.000	%		USD	9,000,000		(761,590	)		(962,260	)		200,670
Totals															$	(3,487,933	)	$	(4,552,375	)	$	1,064,442

(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.

BHFTI-38

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Glossary of Abbreviations

Counterparties

(CBNA)—	Citibank N.A.
(CGM)—	Citigroup Global Markets, Inc.
(CSI)—	Credit Suisse International
(DBAG)—	Deutsche Bank AG
(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.
(MSC)—	Morgan Stanley & Co.
(SCB)—	Standard Chartered Bank

Currencies

(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CLP)—	Chilean Peso
(COP)—	Colombian Peso
(CZK)—	Czech Koruna
(EUR)—	Euro
(GBP)—	British Pound
(HUF)—	Hungarian Forint
(IDR)—	Indonesian Rupiah
(ILS)—	Israeli Shekel
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(MYR)—	Malaysian Ringgit
(NZD)—	New Zealand Dollar
(PLN)—	Polish Zloty
(RUB)—	Russian Ruble
(SEK)—	Swedish Krona
(SGD)—	Singapore Dollar
(THB)—	Thai Baht
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(CDOR)—	Canadian Dollar Offered Rate
(CMBX.NA.BB)—	Markit North America BB Rated CMBS Index
(CMBX.NA.BBB-)—	Markit North America BBB- Rated CMBS Index
(EURIBOR)—	Euro InterBank Offered Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(ICE)—	Intercontinental Exchange, Inc.

BHFTI-39

Brighthouse Funds Trust I

AB International Bond Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total Foreign Government*	$	—		$	643,974,311		$	—	$	643,974,311
Total Corporate Bonds & Notes*		—			263,255,249			—		263,255,249
Total U.S. Treasury & Government Agencies*		—			52,448,829			—		52,448,829
Total Asset-Backed Securities*		—			15,719,332			—		15,719,332
Total Mortgage-Backed Securities*		—			2,936,437			—		2,936,437
Total Short-Term Investments*		—			20,377,295			—		20,377,295
Total Investments	$	—		$	998,711,453		$	—	$	998,711,453
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	14,834,384		$	—	$	14,834,384
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(5,000,228	)		—		(5,000,228	)
Total Forward Contracts	$	—		$	9,834,156		$	—	$	9,834,156
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	287,663		$	—		$	—	$	287,663
Futures Contracts (Unrealized Depreciation)		(735,115	)		—			—		(735,115	)
Total Futures Contracts	$	(447,452	)	$	—		$	—	$	(447,452	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	272,686		$	—	$	272,686
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(857,455	)		—		(857,455	)
Total Centrally Cleared Swap Contracts	$	—		$	(584,769	)	$	—	$	(584,769	)
OTC Swap Contracts
OTC Swap Contracts at Value (Liabilities)	$	—		$	(3,487,933	)	$	—	$	(3,487,933	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-40

Brighthouse Funds Trust I

American Funds Balanced Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Securities—100.1%
American Funds AMCAP Fund (Class R-6)		11,128,591	$	355,892,333
American Funds American Mutual Fund (Class R-6)		8,471,087		360,698,868
American Funds Blue Chip Income and Growth Fund (Class 1) (a)		28,483,010		359,170,757
American Funds Bond Fund (Class 1) (a)		51,404,184		583,437,491
American Funds Fundamental Investors Fund (Class R-6)		6,071,243		358,567,606
American Funds Global Bond Fund (Class 1) (a)		11,072,778		134,423,526
American Funds Global Small Capitalization Fund (Class 1) (a)		5,488,994		133,437,440
American Funds Growth Fund (Class 1)		5,554,004		400,776,938
American Funds Growth-Income Fund (Class 1)		8,543,205		403,495,561
American Funds High-Income Bond Fund (Class 1) (a)		17,742,316		179,552,235
American Funds International Fund (Class 1) (a)		13,903,087		268,885,703
American Funds International Growth and Income Fund (Class 1) (a)		21,111,513		356,362,340
American Funds New World Fund (Class 1)		3,757,583		89,468,055
American Funds U.S. Government/AAA - Rated Securities Fund (Class 1) (a)		39,394,222		493,609,601
Total Mutual Funds (Cost $4,113,899,117)				4,477,778,454
Total Investments—100.1% (Cost $4,113,899,117)				4,477,778,454
Other assets and liabilities (net)—(0.1)%				(2,493,912	)
Net Assets—100.0%			$	4,475,284,542

(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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Investment Company Securities	$	4,477,778,454	$	—	$	—	$	4,477,778,454
Total Investments	$	4,477,778,454	$	—	$	—	$	4,477,778,454

BHFTI-41

Brighthouse Funds Trust I

American Funds Growth Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Securities—100.1%
American Funds AMCAP Fund (Class R-6)		10,939,556	$	349,846,996
American Funds American Mutual Fund (Class R-6)		6,944,679		295,704,413
American Funds Blue Chip Income and Growth Fund (Class 1) (a)		23,352,027		294,469,059
American Funds Bond Fund (Class 1)		10,229,164		116,101,010
American Funds Fundamental Investors Fund (Class R-6)		5,473,196		323,246,963
American Funds Global Bond Fund (Class 1) (a)		4,763,814		57,832,705
American Funds Global Small Capitalization Fund (Class 1) (a)		5,995,307		145,745,917
American Funds Growth Fund (Class 1)		4,451,630		321,229,624
American Funds Growth-Income Fund (Class 1)		6,219,565		293,750,042
American Funds High-Income Bond Fund (Class 1) (a)		8,664,236		87,682,067
American Funds International Fund (Class 1)		12,183,687		235,632,507
American Funds International Growth and Income Fund (Class 1) (a)		17,380,882		293,389,289
American Funds New World Fund (Class 1)		3,713,386		88,415,724
American Funds U.S. Government/AAA - Rated Securities Fund (Class 1)		2,318,216		29,047,245
Total Mutual Funds (Cost $2,622,371,315)				2,932,093,561
Total Investments—100.1% (Cost $2,622,371,315)				2,932,093,561
Other assets and liabilities (net)—(0.1)%				(1,712,444	)
Net Assets—100.0%			$	2,930,381,117

(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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Investment Company Securities	$	2,932,093,561	$	—	$	—	$	2,932,093,561
Total Investments	$	2,932,093,561	$	—	$	—	$	2,932,093,561

BHFTI-42

Brighthouse Funds Trust I

American Funds Growth Portfolio

Schedule of Investments as of September 30, 2019 (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 $1,131,770,098)		16,717,898	$	1,206,363,496
Total Investments—100.1% (Cost $1,131,770,098)				1,206,363,496
Other assets and liabilities (net)—(0.1)%				(792,002	)
Net Assets—100.0%			$	1,205,571,494

(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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Fund
Investment Company Security	$	1,206,363,496	$	—	$	—	$	1,206,363,496
Total Investments	$	1,206,363,496	$	—	$	—	$	1,206,363,496

BHFTI-43

Brighthouse Funds Trust I

American Funds Moderate Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Securities—100.1%
American Funds AMCAP Fund (Class R-6)		3,919,593	$	125,348,576
American Funds American Mutual Fund (Class R-6)		5,393,981		229,675,724
American Funds Blue Chip Income and Growth Fund (Class 1)		16,111,795		203,169,740
American Funds Bond Fund (Class 1) (a)		42,767,749		485,413,956
American Funds Fundamental Investors Fund (Class R-6)		2,142,731		126,549,694
American Funds Global Bond Fund (Class 1) (a)		6,287,839		76,334,364
American Funds Global Small Capitalization Fund (Class 1)		1,032,067		25,089,545
American Funds Growth Fund (Class 1)		1,739,764		125,541,372
American Funds Growth-Income Fund (Class 1)		4,290,148		202,623,690
American Funds High-Income Bond Fund (Class 1) (a)		12,554,902		127,055,611
American Funds International Fund (Class 1)		6,548,065		126,639,569
American Funds International Growth and Income Fund (Class 1) (a)		8,933,217		150,792,699
Investment Company Securities—(Continued)
American Funds New World Fund (Class 1)		1,058,975		25,214,198
American Funds U.S. Government/AAA - Rated Securities Fund (Class 1) (a)		40,765,671		510,793,863
Total Mutual Funds (Cost $2,381,417,175)				2,540,242,601
Total Investments—100.1% (Cost $2,381,417,175)				2,540,242,601
Other assets and liabilities (net)—(0.1)%				(1,525,426	)
Net Assets—100.0%			$	2,538,717,175

(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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Investment Company Securities	$	2,540,242,601	$	—	$	—	$	2,540,242,601
Total Investments	$	2,540,242,601	$	—	$	—	$	2,540,242,601

BHFTI-44

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—25.2% of Net Assets

Security Description	Shares/ Principal Amount*		Value
U.S. Treasury—25.2%
U.S. Treasury Inflation Indexed Notes
0.125%, 07/15/26 (a)		39,960,397	$	39,900,586
0.250%, 01/15/25 (a)		39,102,798		39,216,713
0.250%, 07/15/29 (a)		13,941,422		14,087,599
0.375%, 07/15/25 (a)		60,475,975		61,309,783
0.375%, 01/15/27 (a)		37,066,941		37,514,414
0.375%, 07/15/27 (a)		51,863,160		52,735,279
0.500%, 04/15/24 (a)		166,510,998		168,649,284
0.500%, 01/15/28 (a)		48,770,289		49,950,501
0.625%, 04/15/23 (a)		212,080,643		213,873,403
0.625%, 01/15/26 (a)		10,689,327		10,966,668
0.750%, 07/15/28 (a)		60,465,661		63,562,270
0.875%, 01/15/29 (a)		71,266,448		75,745,543
Total U.S. Treasury & Government Agencies (Cost $814,395,481)				827,512,043
Foreign Government—19.3%
Sovereign—19.3%
Deutsche Bundesrepublik Inflation Linked Bonds
0.100%, 04/15/23 (EUR) (a)		110,752,768		126,849,995
0.100%, 04/15/26 (EUR) (a)		74,951,528		90,336,609
France Government Bond OAT
0.100%, 03/01/25 (EUR) (a)		36,105,003		42,028,247
0.100%, 03/01/28 (EUR) (a)		22,956,375		27,570,980
0.250%, 07/25/24 (EUR) (a)		12,595,257		14,853,752
0.700%, 07/25/30 (144A) (EUR) (a)		16,654,614		21,975,116
1.850%, 07/25/27 (EUR) (a)		30,048,513		41,273,822
United Kingdom Gilt Inflation Linked Bonds
0.125%, 03/22/24 (GBP) (a)		101,151,281		143,467,949
0.125%, 03/22/26 (GBP) (a)		82,509,280		124,559,830
Total Foreign Government (Cost $642,841,657)				632,916,300
Short-Term Investments—51.5%
Mutual Funds—32.2%
BlackRock Liquidity Funds T-Fund Portfolio, Institutional Class, 1.870% (b)		252,553,999		252,553,999
Dreyfus Treasury Cash Management Fund, Institutional Class, 1.840% (b)		246,575,733		246,575,733
State Street Institutional Liquid Reserves Fund, Institutional Class, 1.981% (b) (c)		65,438,478		65,445,022
State Street Institutional Treasury Plus Money Market Fund, 1.774% (b) (c)		207,886,902		207,886,902
UBS Select Treasury Preferred Fund, Institutional Class, 1.910% (b)		282,964,564		282,964,564
				1,055,426,220
U.S. Treasury—19.3%
U.S. Treasury Bills
1.825%, 03/12/20 (d)		12,698,000		12,595,029
1.840%, 02/20/20 (d)		37,335,000		37,071,394
1.840%, 02/27/20 (d)		39,297,000		39,007,056
1.860%, 03/26/20 (d)		19,852,000		19,678,750
1.870%, 03/19/20 (d)		1,182,000		1,172,008
1.890%, 02/13/20 (d) (e)		49,597,000		49,266,405
2.010%, 01/16/20 (d)		53,624,000		53,338,413
2.010%, 01/23/20 (d)		37,491,000		37,277,974
2.030%, 12/26/19 (d)		22,649,000		22,552,240
2.040%, 01/02/20 (d)		63,220,000		62,924,966
2.075%, 01/09/20 (d) (e)		53,293,000		53,026,128
2.130%, 12/19/19 (d)		47,851,000		47,668,709
2.140%, 12/12/19 (d)		10,662,000		10,624,017
2.181%, 12/05/19 (d)		18,075,000		18,016,868
2.258%, 11/29/19 (d) (e)		31,588,000		31,494,686
2.330%, 11/07/19 (d)		44,925,000		44,845,660
2.330%, 11/14/19 (d)		44,925,000		44,826,027
2.340%, 11/21/19 (d)		44,925,000		44,810,600
2.395%, 10/10/19 (d)		1,727,000		1,726,232
				631,923,162
Total Short-Term Investments (Cost $1,686,971,681)				1,687,349,382
Total Investments—96.0% (Cost $3,144,208,819)				3,147,777,725
Other assets and liabilities (net)—4.0%				129,453,938
Net Assets—100.0%			$	3,277,231,663

*	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 September 30, 2019.
(c)	All or a portion of the security was pledged as collateral against open OTC swap contracts. As of September 30, 2019, the market value of securities pledged was $71,774,827.
(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 September 30, 2019, the market value of securities pledged was $2,842,898.
(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 September 30, 2019, the market value of 144A securities was $21,975,116, which is 0.7% of net assets.

BHFTI-45

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	503,000	CBNA		12/18/19		USD	379,536	$	617
CHF	11,571	CBNA		12/18/19		USD	11,940		(267	)
CHF	11,571	CBNA		12/18/19		USD	11,932		(260	)
CHF	11,571	CBNA		12/18/19		USD	11,877		(204	)
CHF	11,571	CBNA		12/18/19		USD	11,839		(166	)
CHF	11,571	CBNA		12/18/19		USD	11,891		(219	)
CHF	11,571	CBNA		12/18/19		USD	11,908		(235	)
CHF	11,571	CBNA		12/18/19		USD	11,878		(205	)
CHF	11,571	CBNA		12/18/19		USD	11,822		(149	)
CHF	11,572	CBNA		12/18/19		USD	11,797		(124	)
CHF	11,572	CBNA		12/18/19		USD	11,862		(189	)
CHF	11,572	CBNA		12/18/19		USD	11,879		(206	)
CHF	11,572	CBNA		12/18/19		USD	11,809		(136	)
CHF	11,572	CBNA		12/18/19		USD	11,784		(110	)
CHF	11,572	CBNA		12/18/19		USD	11,784		(110	)
CHF	172,000	CBNA		12/18/19		USD	175,105		(1,595	)
EUR	1,230,837	CBNA		12/18/19		USD	1,375,600		(26,062	)
EUR	1,284,480	CBNA		12/18/19		USD	1,435,963		(27,609	)
EUR	2,515,317	CBNA		12/18/19		USD	2,816,960		(59,068	)
EUR	2,515,317	CBNA		12/18/19		USD	2,814,839		(56,947	)
EUR	2,515,317	CBNA		12/18/19		USD	2,815,744		(57,853	)
EUR	2,515,317	CBNA		12/18/19		USD	2,810,192		(52,300	)
EUR	2,515,317	CBNA		12/18/19		USD	2,808,100		(50,209	)
EUR	2,515,317	CBNA		12/18/19		USD	2,799,093		(41,201	)
EUR	2,515,317	CBNA		12/18/19		USD	2,799,797		(41,906	)
EUR	2,515,317	CBNA		12/18/19		USD	2,774,128		(16,237	)
EUR	2,515,317	CBNA		12/18/19		USD	2,791,597		(33,706	)
EUR	2,515,317	CBNA		12/18/19		USD	2,800,336		(42,444	)
EUR	2,515,317	CBNA		12/18/19		USD	2,793,786		(35,894	)
EUR	2,515,318	CBNA		12/18/19		USD	2,797,208		(39,315	)
EUR	2,515,318	CBNA		12/18/19		USD	2,797,484		(39,591	)
EUR	54,521,770	CBNA		12/18/19		USD	60,416,967		(637,170	)
GBP	27,258,679	CBNA		12/18/19		USD	33,739,960		(117,609	)
HKD	1,410,281	CBNA		12/18/19		USD	179,821		253
HKD	2,420,000	CBNA		12/18/19		USD	309,427		(426	)
HKD	4,230,844	CBNA		12/18/19		USD	539,547		674
HKD	5,641,125	CBNA		12/18/19		USD	719,401		894
HKD	5,641,125	CBNA		12/18/19		USD	719,286		1,008
HKD	5,641,125	CBNA		12/18/19		USD	719,350		944
HKD	5,641,125	CBNA		12/18/19		USD	719,066		1,228
HKD	5,641,125	CBNA		12/18/19		USD	719,323		972
HKD	5,641,125	CBNA		12/18/19		USD	720,085		210
HKD	5,641,125	CBNA		12/18/19		USD	719,635		660
JPY	43,285,000	CBNA		12/18/19		USD	402,716		(209	)
Contracts to Deliver
CAD	35,929	CBNA		12/18/19		USD	27,042		(112	)
CAD	35,929	CBNA		12/18/19		USD	27,093		(62	)
CAD	35,929	CBNA		12/18/19		USD	26,904		(250	)
CAD	35,929	CBNA		12/18/19		USD	27,097		(57	)
CAD	35,929	CBNA		12/18/19		USD	27,217		62
CAD	35,929	CBNA		12/18/19		USD	27,299		145
CAD	35,929	CBNA		12/18/19		USD	27,339		185
CAD	35,929	CBNA		12/18/19		USD	27,319		165
CAD	35,928	CBNA		12/18/19		USD	26,988		(165	)
CAD	35,928	CBNA		12/18/19		USD	27,114		(40	)

BHFTI-46

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	35,928	CBNA		12/18/19		USD	27,079	$	(74	)
CAD	35,928	CBNA		12/18/19		USD	27,037		(116	)
CAD	35,928	CBNA		12/18/19		USD	27,067		(86	)
CAD	35,928	CBNA		12/18/19		USD	27,174		20
CHF	334,000	CBNA		12/18/19		USD	344,445		7,513
EUR	30,356,733	CBNA		12/18/19		USD	33,977,389		693,083
EUR	30,356,733	CBNA		12/18/19		USD	33,879,155		594,848
EUR	30,356,733	CBNA		12/18/19		USD	33,773,264		488,957
EUR	30,356,733	CBNA		12/18/19		USD	33,862,129		577,822
EUR	30,356,733	CBNA		12/18/19		USD	33,460,757		176,451
EUR	30,356,733	CBNA		12/18/19		USD	33,694,294		409,987
EUR	30,356,733	CBNA		12/18/19		USD	33,830,281		545,975
EUR	30,356,733	CBNA		12/18/19		USD	33,762,826		478,519
EUR	30,356,733	CBNA		12/18/19		USD	33,760,367		476,060
EUR	30,356,733	CBNA		12/18/19		USD	33,931,443		647,136
EUR	30,356,733	CBNA		12/18/19		USD	33,758,741		474,435
EUR	30,356,732	CBNA		12/18/19		USD	33,929,214		644,909
EUR	15,178,412	CBNA		12/18/19		USD	16,996,191		353,988
EUR	15,178,320	CBNA		12/18/19		USD	16,986,829		344,727
EUR	9,973,069	CBNA		12/18/19		USD	11,145,574		210,712
EUR	9,900,814	CBNA		12/18/19		USD	11,065,217		209,578
EUR	5,824,332	CBNA		12/18/19		USD	6,510,967		124,942
EUR	4,658,517	CBNA		12/18/19		USD	5,205,184		97,404
GBP	30,794,886	CBNA		12/18/19		USD	38,145,475		161,372
GBP	30,794,885	CBNA		12/18/19		USD	38,208,734		224,632
GBP	30,794,884	CBNA		12/18/19		USD	37,477,134		(506,966	)
GBP	30,794,884	CBNA		12/18/19		USD	37,972,044		(12,057	)
GBP	30,794,884	CBNA		12/18/19		USD	37,645,373		(338,728	)
GBP	30,794,884	CBNA		12/18/19		USD	37,800,435		(183,665	)
GBP	30,794,884	CBNA		12/18/19		USD	37,696,061		(288,039	)
GBP	30,794,884	CBNA		12/18/19		USD	38,154,918		170,818
HKD	17,782,000	CBNA		12/18/19		USD	2,267,007		(3,511	)
HKD	16,599,000	CBNA		12/18/19		USD	2,115,791		(3,675	)
HKD	13,168,000	CBNA		12/18/19		USD	1,678,399		(2,974	)
JPY	10,821,250	CBNA		12/18/19		USD	102,408		1,781
JPY	10,821,250	CBNA		12/18/19		USD	102,393		1,766
JPY	10,821,250	CBNA		12/18/19		USD	103,562		2,935
JPY	10,821,250	CBNA		12/18/19		USD	101,825		1,198
Net Unrealized Appreciation								$	5,409,077

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Aluminum Futures		11/22/19		31		USD	1,335,108	$	(37,796	)
Aluminum Futures		12/17/19		25		USD	1,080,519		(33,351	)
Amsterdam AEX Index Futures		10/18/19		59		EUR	6,845,770		55,341
Australian 10 Year Treasury Bond Futures		12/16/19		1,047		AUD	154,274,717		905,487
CAC 40 Index Futures		10/18/19		369		EUR	20,944,440		275,928
Canada Government Bond 10 Year Futures		12/18/19		1,266		CAD	180,531,600		(1,228,439	)
Copper Futures		12/27/19		308		USD	19,854,450		109,480
Cotton No. 2 Futures		12/06/19		24		USD	729,960		(9,084	)
DAX Index Futures		12/20/19		51		EUR	15,824,025		64,244
Euro STOXX 50 Index Futures		12/20/19		1,502		EUR	53,396,100		756,012

BHFTI-47

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro-Bund 10 Year Futures		12/06/19		4,840			EUR	843,370,000		$	(9,906,337	)
FTSE 100 Index Futures		12/20/19		723			GBP	53,382,705			755,092
FTSE JSE Top 40 Index Futures		12/19/19		353			ZAR	174,106,660			(604,032	)
FTSE MIB Index Futures		12/20/19		39			EUR	4,302,870			60,988
Hang Seng China Enterprises Index Futures		10/30/19		182			HKD	92,911,000			(42,948	)
Hang Seng Index Futures		10/30/19		24			HKD	31,250,400			9,009
IBEX 35 Index Futures		10/18/19		44			EUR	4,062,300			114,530
Japanese Government 10 Year Bond Futures		12/13/19		250			JPY	38,755,000,000			449,288
KOSPI 200 Index Futures		12/12/19		223			KRW	15,283,862,500			322,581
LME Nickel Futures		12/18/19		124			USD	12,696,360			1,035,449
LME Primary Aluminums Futures		12/18/19		290			USD	12,528,000			(240,611	)
LME Zinc Futures		12/18/19		157			USD	9,386,638			517,306
Lean Hogs Futures		12/13/19		215			USD	6,243,600			823,045
Live Cattle Futures		12/31/19		29			USD	1,279,480			72,032
MSCI Taiwan Index Futures		10/30/19		614			USD	24,995,940			250,361
Nickel Futures		11/22/19		12			USD	1,231,200			97,885
Nickel Futures		12/17/19		12			USD	1,228,950			3,835
Russell 2000 Index E-Mini Futures		12/20/19		838			USD	63,897,500			(2,395,591	)
S&P 500 Index E-Mini Futures		12/20/19		5,130			USD	763,985,250			(7,557,751	)
S&P Midcap 400 Index E-Mini Futures		12/20/19		384			USD	74,419,200			(1,092,879	)
S&P TSX 60 Index Futures		12/19/19		280			CAD	55,781,600			2,160
SGX CNX Nifty Index Futures		10/31/19		835			USD	19,268,460			(149,118	)
SPI 200 Index Futures		12/19/19		251			AUD	41,929,550			73,877
Soybean Futures		11/14/19		84			USD	3,805,200			120,417
Soybean Meal Futures		12/13/19		296			USD	8,909,600			(565,063	)
Soybean Oil Futures		12/13/19		166			USD	2,896,368			101,571
Sugar No. 11 Futures		02/28/20		497			USD	7,041,496			422,929
TOPIX Index Futures		12/12/19		678			JPY	10,766,640,000			2,730,159
U.S. Treasury Note 10 Year Futures		12/19/19		8,631			USD	1,124,727,188			(6,554,656	)
United Kingdom Long Gilt Bond Futures		12/27/19		922			GBP	123,769,280			349,131
Wheat Futures		12/13/19		14			USD	347,025			16,629
Zinc Futures		11/22/19		18			USD	1,083,677			67,138
Zinc Futures		12/17/19		15			USD	897,064			17,060
Futures Contracts—Short
Aluminum Futures		11/22/19		(31	)		USD	(1,335,108	)		34,225
Aluminum Futures		12/17/19		(25	)		USD	(1,080,519	)		33,599
LME Nickel Futures		12/18/19		(12	)		USD	(1,228,680	)		(4,175	)
LME Primary Aluminums Futures		12/18/19		(25	)		USD	(1,080,000	)		33,444
LME Zinc Futures		12/18/19		(15	)		USD	(896,813	)		(17,058	)
Nickel Futures		11/22/19		(12	)		USD	(1,231,200	)		(93,635	)
Nickel Futures		12/17/19		(12	)		USD	(1,228,950	)		(10,752	)
Zinc Futures		11/22/19		(18	)		USD	(1,083,677	)		(64,480	)
Zinc Futures		12/17/19		(15	)		USD	(897,064	)		(16,778	)
Net Unrealized Depreciation										$	(19,944,302	)

BHFTI-48

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Swap Agreements

OTC Total Return Swaps

Maturity Date	Counterparty	Underlying Reference Instrument	Notional Amount		Market Value			Upfront Premium Paid		Unrealized Appreciation/ (Depreciation)
10/30/19	CBNA	Brent Crude Futures	USD	6,086,064	$	(457,314	)	$	—	$	(457,314	)
10/30/19	MLI	Brent Crude Futures	USD	16,237,520		(832,520	)		—		(832,520	)
12/18/19	BOA	Canada Government Bond 10 Year Futures	CAD	2,448,303		(18,193	)		—		(18,193	)
11/08/19	CBNA	Coffee “C” Futures	USD	1,285,889		41,705			—		41,705
11/08/19	MLI	Coffee “C” Futures	USD	5,422,656		39,444			—		39,444
10/04/19	MLI	Commodity Excess-Return Index (a)	USD	832,764,537		(751,766	)		—		(751,766	)
11/22/19	CBNA	Corn No. 2 Futures	USD	2,459,226		82,174			—		82,174
11/22/19	MLI	Corn No. 2 Futures	USD	14,626,819		(561,819	)		—		(561,819	)
11/08/19	CBNA	Cotton No. 2 Futures	USD	1,541,655		(112,150	)		—		(112,150	)
11/08/19	MLI	Cotton No. 2 Futures	USD	1,216,425		(91,070	)		—		(91,070	)
10/21/19	CBNA	Crude Oil Futures	USD	8,287,156		(230,726	)		—		(230,726	)
10/21/19	MLI	Crude Oil Futures	USD	16,047,960		(583,940	)		—		(583,940	)
11/29/19	CBNA	Gold 100 oz. Futures	USD	23,108,351		605,339			—		605,339
11/29/19	MLI	Gold 100 oz. Futures	USD	14,918,620		104,960			—		104,960
10/30/19	GSI	Hang Seng China Enterprises Index Futures	HKD	188,295,480		(55,052	)		—		(55,052	)
10/30/19	MLI	Hang Seng China Enterprises Index Futures	HKD	268,686,028		(85,934	)		—		(85,934	)
10/30/19	GSI	Hang Seng Index Futures	HKD	11,700,139		2,394			—		2,394
10/30/19	MLI	Hang Seng Index Futures	HKD	70,436,656		(15,726	)		—		(15,726	)
10/16/19	GSI	Ibovespa Futures	BRL	6,240,689		15,791			—		15,791
10/16/19	MLI	Ibovespa Futures	BRL	60,856,409		151,630			—		151,630
12/13/19	BOA	Japanese Government 10 Year Bond Futures	JPY	10,223,795,400		69,592			—		69,592
11/22/19	CBNA	KC Hard Red Winter Wheat Futures	USD	1,998,872		(27,622	)		—		(27,622	)
11/22/19	MLI	KC Hard Red Winter Wheat Futures	USD	996,850		(850	)		—		(850	)
12/06/19	MLI	Live Cattle Futures	USD	8,410,125		634,475			—		634,475
12/27/19	BOA	Long Gilt Futures	GBP	39,264,700		248,197			—		248,197
11/11/19	CBNA	Low Sulphur Gas Oil Futures	USD	5,837,500		27,500			—		27,500
11/11/19	MLI	Low Sulphur Gas Oil Futures	USD	1,992,050		2,050			—		2,050
10/30/19	CBNA	NY Harbor ULSD Futures	USD	6,401,044		(26,452	)		—		(26,452	)
10/29/19	CBNA	Natural Gas Futures	USD	11,525,976		(1,273,976	)		—		(1,273,976	)
10/29/19	MLI	Natural Gas Futures	USD	9,557,160		(1,052,660	)		—		(1,052,660	)
12/12/19	MLI	KOSPI 200 Index Futures	KRW	16,104,647,556		173,287			11,337		161,950
10/30/19	CBNA	RBOB Gasoline Futures	USD	4,147,819		(2,860	)		—		(2,860	)
10/30/19	MLI	RBOB Gasoline Futures	USD	3,262,753		(38,896	)		—		(38,896	)
11/29/19	CBNA	Silver Futures	USD	6,371,778		(167,508	)		—		(167,508	)
11/29/19	MLI	Silver Futures	USD	5,600,205		(160,845	)		—		(160,845	)
10/25/19	CBNA	Soybean Futures	USD	12,258,827		334,574			—		334,574
11/22/19	CBNA	Soybean Oil Futures	USD	5,206,437		167,547			—		167,547
02/18/20	CBNA	Sugar No. 11 Futures	USD	1,345,236		85,733			—		85,733
02/18/20	MLI	Sugar No. 11 Futures	USD	426,737		26,639			—		26,639
12/20/19	MLI	Swiss Market Index Futures	CHF	37,504,558		299,065			—		299,065
12/19/19	BOA	U.S. Treasury Note 10 Year Futures	USD	1,015,509,924		(6,369,924	)		—		(6,369,924	)
11/22/19	CBNA	Wheat Futures	USD	8,087,226		(80,863	)		—		(80,863	)
Totals					$	(9,886,570	)	$	11,337	$	(9,897,907	)

(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 September 30, 2019:

Futures Contracts—Long	Notional Value		Component Weighting
Gold 100 oz.	$	114,030,874		13.6	%
WTI Crude		69,183,271		8.3	%
Brent Crude		61,091,817		7.3	%
Copper Comex		58,373,815		7.0	%

BHFTI-49

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

OTC Total Return Swaps—(Continued)

Futures Contracts—Long	Notional Value		Component Weighting
Natural Gas	$	55,143,049		6.6	%
Corn No. 2 Yellow		48,785,939		5.9	%
Soybeans		48,176,016		5.8	%
Silver		34,213,288		4.1	%
LME Primary Nickel		33,949,862		4.1	%
LME Primary Aluminum		32,855,056		3.9	%
Live Cattle		29,874,624		3.6	%
Soybean Meal		26,237,127		3.2	%
Soybean Oil		25,824,019		3.1	%
Sugar No. 11		25,679,003		3.1	%
Zinc		25,172,283		3.0	%
Wheat		24,575,469		3.0	%
Low Sulphur Gasoil		23,104,472		2.8	%
RBOB Gasoline		21,648,508		2.6	%
Coffee “C”		19,898,951		2.4	%
Heating Oil		18,867,671		2.3	%
Lean Hogs		17,691,021		2.1	%
Cotton No. 2		9,681,228		1.2	%
KC Hard Red Winter Wheat		8,707,174		1.0	%
	$	832,764,537		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-50

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	827,512,043		$	—	$	827,512,043
Total Foreign Government*		—			632,916,300			—		632,916,300
Total Short-Term Investments*		1,055,426,220			631,923,162			—		1,687,349,382
Total Investments	$	1,055,426,220		$	2,092,351,505		$	—	$	3,147,777,725
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	8,129,585		$	—	$	8,129,585
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(2,720,508	)		—		(2,720,508	)
Total Forward Contracts	$	—		$	5,409,077		$	—	$	5,409,077
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	10,680,232		$	—		$	—	$	10,680,232
Futures Contracts (Unrealized Depreciation)		(30,624,534	)		—			—		(30,624,534	)
Total Futures Contracts	$	(19,944,302	)	$	—		$	—	$	(19,944,302	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	3,112,096		$	—	$	3,112,096
OTC Swap Contracts at Value (Liabilities)		—			(12,998,666	)		—		(12,998,666	)
Total OTC Swap Contracts	$	—		$	(9,886,570	)	$	—	$	(9,886,570	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-51

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—85.6% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—85.6%
Communication Services Select Sector SPDR Fund (a)		2,554,240	$	126,485,965
Consumer Discretionary Select Sector SPDR Fund (a)		1,077,247		130,023,713
Consumer Staples Select Sector SPDR Fund (a)		1,280,867		78,670,851
Energy Select Sector SPDR Fund (a)		1,200,155		71,049,176
Financial Select Sector SPDR Fund (a)		5,758,313		161,232,764
Health Care Select Sector SPDR Fund (a)		2,105,896		189,804,407
Industrial Select Sector SPDR Fund (a)		1,575,846		122,332,925
iShares Core MSCI EAFE ETF (a) (b)		22,810,462		1,393,034,914
iShares Core S&P 500 ETF (a) (b)		1,493,939		445,970,670
iShares Core U.S. Aggregate Bond ETF (a) (b)		10,191,338		1,153,353,722
iShares Intermediate-Term Corporate Bond ETF (a) (b)		2,291,175		132,704,856
Materials Select Sector SPDR Fund (a)		488,019		28,402,706
Real Estate Select Sector SPDR Fund (a)		4,234,057		166,567,802
Technology Select Sector SPDR Fund (a)		3,234,665		260,487,572
Utilities Select Sector SPDR Fund (a)		460,338		29,802,282
Vanguard Total Bond Market ETF (a)		13,629,069		1,150,702,296
Total Mutual Funds (Cost $5,218,781,110)				5,640,626,621
Short-Term Investments—10.4%
Mutual Fund—2.2%
SSGA USD Liquidity Fund, D Shares, 1.959% (c)		144,899,832		144,899,832
Repurchase Agreement—8.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $540,519,520; collateralized by U.S. Treasury Notes with rates ranging from 2.000% - 2.875%, maturity dates ranging from 09/30/21 - 12/31/21, and an aggregate market value of $551,320,729.		540,507,509		540,507,509
Total Short-Term Investments (Cost $685,407,341)				685,407,341
Securities Lending Reinvestments (d)—16.0%
Certificates of Deposit—6.6%
Banco Del Estado De Chile New York 2.222%, 1M LIBOR + 0.180%, 10/09/19 (e)		9,000,000		9,000,000
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (e)		10,000,000		9,999,210
Bank of Montreal (Chicago) 1.990%, SOFR + 0.170%, 02/07/20 (e)		13,000,000		13,002,743
Bank of Nova Scotia
2.198%, 1M LIBOR + 0.170%, 05/15/20 (e)		17,000,000		16,992,588
2.198%, 1M LIBOR + 0.170%, 05/15/20 (e)		7,000,000		6,996,906
2.481%, 3M LIBOR + 0.170%, 01/09/20 (e)		10,000,000		10,004,170
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (e)		15,000,000		15,002,775
Canadian Imperial Bank of Commerce 2.278%, 1M LIBOR + 0.250%, 10/15/19 (e)		12,000,000		12,000,408
Certificates of Deposit—(Continued)
Chiba Bank, Ltd.
2.230%, 11/20/19		2,800,000		2,800,017
2.250%, 10/17/19		9,000,000		9,000,468
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (e)		4,000,000		3,998,360
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (e)		21,000,000		21,003,003
Credit Industriel et Commercial 2.260%, 1M LIBOR + 0.160%, 01/03/20 (e)		20,000,000		19,997,480
Credit Suisse AG
2.219%, 1M LIBOR + 0.130%, 11/04/19 (e)		21,000,000		20,998,320
2.240%, 1M LIBOR + 0.140%, 10/02/19 (e)		34,000,000		34,000,000
DZ Bank AG Zero Coupon, 03/17/20		13,850,849		13,865,460
KBC Bank NV Zero Coupon, 10/25/19		19,740,000		19,973,093
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (e)		15,000,000		14,997,600
Nationwide Building Society Zero Coupon, 10/09/19		14,972,426		14,992,050
Natixis New York
2.323%, 3M LIBOR + 0.070%, 11/01/19 (e)		10,000,000		10,001,450
2.453%, 3M LIBOR + 0.150%, 10/15/19 (e)		5,000,000		5,000,630
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (e)		32,000,000		32,000,544
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (e)		10,000,000		9,999,940
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (e)		10,000,000		9,998,700
2.179%, 1M LIBOR + 0.140%, 11/12/19 (e)		15,000,000		14,999,250
Sumitomo Mitsui Trust Bank, Ltd.
2.184%, 1M LIBOR + 0.140%, 11/20/19 (e)		5,000,000		4,999,900
2.206%, 1M LIBOR + 0.160%, 10/23/19 (e)		10,000,000		10,000,200
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 10/17/19		14,801,366		14,985,150
Svenska Handelsbanken AB 2.247%, 1M LIBOR + 0.180%, 06/05/20 (e)		10,000,000		9,995,300
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (e)		30,000,000		30,006,990
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (e)		15,000,000		14,999,946
				435,612,651
Commercial Paper—1.0%
Bank of China, Ltd. 2.290%, 12/09/19		7,954,200		7,963,576
Cafco LLC 2.120%, 10/31/19		4,981,450		4,990,905
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (e)		10,000,000		10,001,620
LMA S.A. & LMA Americas, Corp. 2.610%, 10/03/19		19,734,650		19,996,420
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (e)		12,000,000		12,006,684

BHFTI-52

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (e)		10,000,000	$	10,001,490
				64,960,695
Master Demand Notes—0.7%
Natixis Financial Products LLC
2.050%, OBFR + 0.230%, 10/01/19 (e)		12,000,000		12,000,000
2.070%, OBFR + 0.250%, 10/01/19 (e)		31,000,000		31,000,000
				43,000,000
Mutual Fund—0.0%
SSGA Institutional U.S. Government Money Market Fund 2.050%, (c)		1,000,000		1,000,000
Repurchase Agreements—7.2%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $5,531,906; collateralized by various Common Stock with an aggregate market value of $6,050,001.		5,500,000		5,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $65,403,650; collateralized by various Common Stock with an aggregate market value of $71,507,339.		65,000,000		65,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $5,100,340; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $5,202,003.		5,100,000		5,100,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $7,094,701; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $7,236,094.		7,094,208		7,094,208
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $45,539,175; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $49,395,083.		45,000,000		45,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $7,769,902; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $8,647,439.		7,769,473		7,769,473
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $69,027,102; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $76,687,116.		69,000,000		69,000,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $103,290,554; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $114,752,822.		103,250,000		103,250,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $15,000,979; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $15,300,000.		15,000,000		15,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $6,000,328; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $6,666,371.		6,000,000		6,000,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $15,000,825; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $16,665,929.		15,000,000		15,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $11,504,472; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $12,777,212.		11,500,000		11,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,001,944; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $13,905,406; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $15,443,761.		13,900,000		13,900,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $20,007,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $22,221,238.		20,000,000		20,000,000

BHFTI-53

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $25,009,722; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $27,776,548.		25,000,000	$	25,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $56,071,797; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $62,275,020.		56,050,000		56,050,000
				475,163,681
Time Deposits—0.5%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		10,000,000		10,000,000
National Bank of Canada 1.890%, OBFR + 0.070%, 10/07/19 (e)		15,000,000		15,000,000
Nordea Bank New York 1.760%, 10/01/19		10,000,000		10,000,000
				35,000,000
Total Securities Lending Reinvestments (Cost $1,054,720,246)				1,054,737,027
Total Investments—112.0% (Cost $6,958,908,697)				7,380,770,989
Other assets and liabilities (net)—(12.0)%				(793,350,573	)
Net Assets—100.0%			$	6,587,420,416

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $1,034,535,707 and the collateral received consisted of cash in the amount of $1,053,998,622. 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 September 30, 2019.
(d)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(e)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 Depreciation
EUR	15,760,955	DBAG		12/18/19		USD	17,547,065	$	(266,139	)
EUR	207,224,187	DBAG		12/18/19		USD	230,707,868		(3,499,183	)
EUR	112,000,000	GSI		12/18/19		USD	123,819,360		(1,018,189	)
Net Unrealized Depreciation								$	(4,783,511	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
MSCI EAFE Index Mini Futures		12/20/19		2,802		USD	265,965,840	$	(416,683	)
Russell 2000 Index E-Mini Futures		12/20/19		2,412		USD	183,915,000		(6,535,679	)
S&P 500 Index E-Mini Futures		12/20/19		1,699		USD	253,023,575		(2,159,386	)
U.S. Treasury Ultra Long Bond Futures		12/19/19		63		USD	12,090,094		(81,280	)

BHFTI-54

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Short	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
U.S. Treasury Note 10 Year Futures		12/19/19		(3,925	)		USD	(511,476,563	)	$	2,317,082
U.S. Treasury Note 2 Year Futures		12/31/19		(614	)		USD	(132,317,000	)		243,751
Net Unrealized Depreciation										$	(6,632,195	)

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 Appreciation
Pay	3M LIBOR		Quarterly	1.660%	Semi-Annually		09/20/29		USD	560,000,000	$	4,413,327	$	8,663	$	4,404,664
Pay	3M LIBOR		Quarterly	1.660%	Semi-Annually		09/24/29		USD	665,000,000		5,261,188		2,734,574		2,526,614
Pay	3M LIBOR		Quarterly	1.665%	Semi-Annually		09/21/29		USD	740,000,000		6,168,011		11,450		6,156,561
Totals											$	15,842,526	$	2,754,687	$	13,087,839

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 Appreciation(1)

Pay

3M UST

Quarterly

02/26/20

JPMC

S&P GSCI Commodity Index

USD    243,679,590

$

7,128,207

$

—

$

7,128,207

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

Glossary of Abbreviations

Counterparties

(DBAG)—	Deutsche Bank AG
(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.

Currencies

(EUR)—	Euro
(USD)—	United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate
(SOFR)—	Secured Overnight Financing Rate
(UST)—	U.S. Treasury Bill Rate

Other Abbreviations

(ETF)— Exchange-Traded Fund

BHFTI-55

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Mutual Funds
Investment Company Securities	$	5,640,626,621		$	—		$	—	$	5,640,626,621
Total Short-Term Investments*		144,899,832			540,507,509			—		685,407,341
Total Securities Lending Reinvestments*		—			1,054,737,027			—		1,054,737,027
Total Investments	$	5,785,526,453		$	1,595,244,536		$	—	$	7,380,770,989
Collateral for Securities Loaned (Liability)	$	—		$	(1,053,998,622	)	$	—	$	(1,053,998,622	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)	$	—		$	(4,783,511	)	$	—	$	(4,783,511	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	2,560,833		$	—		$	—	$	2,560,833
Futures Contracts (Unrealized Depreciation)		(9,193,028	)		—			—		(9,193,028	)
Total Futures Contracts	$	(6,632,195	)	$	—		$	—	$	(6,632,195	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	13,087,839		$	—	$	13,087,839
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	7,128,207		$	—	$	7,128,207

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-56

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—86.8% of Net Assets

Security Description	Principal Amount*		Value
Advertising—0.2%
MDC Partners, Inc. 6.500%, 05/01/24 (144A)		135,000	$	123,019
Outfront Media Capital LLC / Outfront Media Capital Corp. 5.000%, 08/15/27 (144A)		1,457,000		1,529,850
				1,652,869
Aerospace/Defense—3.9%
Arconic, Inc. 5.125%, 10/01/24 (a)		2,243,000		2,388,795
BBA U.S. Holdings, Inc. 5.375%, 05/01/26 (144A)		606,000		636,300
Bombardier, Inc.
5.750%, 03/15/22 (144A)		136,000		138,380
6.125%, 01/15/23 (144A)		760,000		774,060
7.500%, 12/01/24 (144A)		960,000		963,360
7.500%, 03/15/25 (144A)		921,000		919,849
7.875%, 04/15/27 (144A)		3,712,000		3,696,595
8.750%, 12/01/21 (144A)		755,000		815,400
F-Brasile S.p.A. / F-Brasile US LLC 7.375%, 08/15/26 (144A)		464,000		482,560
Kratos Defense & Security Solutions, Inc. 6.500%, 11/30/25 (144A)		970,000		1,035,475
TransDigm UK Holdings plc 6.875%, 05/15/26		1,164,000		1,251,300
TransDigm, Inc.
6.250%, 03/15/26 (144A)		13,189,000		14,161,689
6.500%, 05/15/25		159,000		164,962
Triumph Group, Inc. 6.250%, 09/15/24 (144A)		745,000		774,949
				28,203,674
Agriculture—0.0%
Darling Ingredients, Inc. 5.250%, 04/15/27 (144A)		267,000		280,350
Apparel—0.1%
William Carter Co. (The) 5.625%, 03/15/27 (144A)		488,000		522,160
Auto Manufacturers—0.3%
Allison Transmission, Inc. 5.875%, 06/01/29 (144A)		751,000		814,835
Navistar International Corp. 6.625%, 11/01/25 (144A)		547,000		555,205
Tesla, Inc. 5.300%, 08/15/25 (144A) (a)		422,000		378,745
Volkswagen International Finance NV 3.375%, 6Y EUR Swap + 2.970%, 06/27/24 (EUR) (b)		100,000		114,270
Wabash National Corp. 5.500%, 10/01/25 (144A)		513,000		504,022
				2,367,077
Auto Parts & Equipment—1.0%
GKN Holdings, Ltd.
4.625%, 05/12/32 (GBP)		200,000		249,594
IHO Verwaltungs GmbH
3.625%, 4.375% PIK, 05/15/25 (EUR) (c)		113,000		127,475
3.875%, 4.625% PIK, 05/15/27 (EUR) (c)		101,000		112,287
Panther BF Aggregator 2 L.P. / Panther Finance Co., Inc.
4.375%, 05/15/26 (EUR)		167,000		185,435
6.250%, 05/15/26 (144A)		2,764,000		2,909,110
8.500%, 05/15/27 (144A)		3,614,000		3,659,175
				7,243,076
Banks—2.9%
Allied Irish Banks plc 4.125%, 5Y EUR Swap + 3.950%, 11/26/25 (EUR) (b)		100,000		113,305
Banco BPM S.p.A. 2.500%, 06/21/24 (EUR)		100,000		112,901
Banco de Sabadell S.A. 5.375%, 5Y EUR Swap + 5.100%, 12/12/28 (EUR) (b)		100,000		121,121
Banco Espirito Santo S.A.
2.625%, 05/08/17 (EUR) (d)		400,000		82,836
4.750%, 01/15/18 (EUR) (d)		1,000,000		207,091
Bank of America Corp.
5.526%, 3M LIBOR + 3.387%, 10/28/19 (b)		95,000		95,123
6.100%, 3M LIBOR + 3.898%, 03/17/25 (b)		1,479,000		1,615,807
6.250%, 3M LIBOR + 3.705%, 09/05/24 (b)		1,320,000		1,436,160
6.300%, 3M LIBOR + 4.553%, 03/10/26 (a) (b)		640,000		720,000
6.500%, 3M LIBOR + 4.174%, 10/23/24 (b)		1,395,000		1,551,937
Barclays plc
4.375%, 09/11/24		1,330,000		1,374,261
5.200%, 05/12/26		400,000		424,914
CIT Group, Inc.
5.800%, 3M LIBOR + 3.972%, 06/15/22 (b)		569,000		577,535
6.000%, 04/01/36		1,604,000		1,800,490
6.125%, 03/09/28		222,000		259,185
Deutsche Pfandbriefbank AG 4.600%, 02/22/27 (EUR)		100,000		119,566
Goldman Sachs Group, Inc. (The) 5.000%, 3M LIBOR + 2.874%, 11/10/22 (b)		271,000		266,041
Hongkong & Shanghai Banking Corp., Ltd. (The) 2.500%, 3M LIBOR + 0.000%, 10/27/19 (b)		50,000		37,000
JPMorgan Chase & Co.
5.000%, SOFR + 3.380%, 08/01/24 (b)		2,270,000		2,332,425
5.300%, 3M LIBOR + 3.800%, 05/01/20 (b)		2,335,000		2,358,257
5.419%, 3M LIBOR + 3.320%, 01/01/20 (b)		350,000		350,000
6.100%, 3M LIBOR + 3.330%, 10/01/24 (b)		1,237,000		1,341,155
6.125%, 3M LIBOR + 3.330%, 04/30/24 (b)		243,000		263,307
6.750%, 3M LIBOR + 3.780%, 02/01/24 (b)		425,000		471,750
Morgan Stanley 5.550%, 3M LIBOR + 3.810%, 07/15/20 (b)		345,000		349,778
National Westminster Bank plc 2.375%, 3M LIBOR + 0.250%, 11/28/19 (b)		40,000		32,280
Royal Bank of Scotland Group plc 8.625%, 5Y USD Swap + 7.598%, 08/15/21 (b)		238,000		254,862
UniCredit S.p.A. 4.375%, 5Y EUR Swap + 4.316%, 01/03/27 (EUR) (b)		100,000		116,879

BHFTI-57

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Wells Fargo & Co. 5.875%, 3M LIBOR + 3.990%, 06/15/25 (b)		1,794,000	$	1,977,347
				20,763,313
Building Materials—0.6%
Builders FirstSource, Inc. 6.750%, 06/01/27 (144A)		235,000		253,212
Cemex S.A.B. de C.V. 3.125%, 03/19/26 (EUR)		100,000		112,667
CPG Merger Sub LLC 8.000%, 10/01/21 (144A)		634,000		634,000
Holcim Finance Luxembourg S.A.
3.000%, 5Y EURIBOR Swap + 3.074%, 07/05/24 (EUR) (b)		200,000		228,700
JELD-WEN, Inc.
4.625%, 12/15/25 (144A)		311,000		312,176
4.875%, 12/15/27 (144A)		40,000		39,600
Masonite International Corp.
5.375%, 02/01/28 (144A)		339,000		353,407
5.750%, 09/15/26 (144A)		64,000		67,520
Norbord, Inc. 6.250%, 04/15/23 (144A)		486,000		513,945
PGT Escrow Issuer, Inc. 6.750%, 08/01/26 (144A) (a)		235,000		253,212
Standard Industries, Inc.
5.375%, 11/15/24 (144A)		867,000		893,010
6.000%, 10/15/25 (144A)		793,000		831,429
				4,492,878
Chemicals—1.9%
Atotech Alpha 2 B.V. 8.750%, 9.50% PIK., 06/01/23 (144A) (c)		574,000		571,130
Atotech Alpha 3 B.V. / Alpha U.S. Bidco, Inc. 6.250%, 02/01/25 (144A) (a)		2,634,000		2,647,170
Axalta Coating Systems LLC 4.875%, 08/15/24 (144A)		459,000		473,918
Blue Cube Spinco LLC
9.750%, 10/15/23		1,007,000		1,097,630
10.000%, 10/15/25		1,008,000		1,128,292
Chemours Co. (The)
4.000%, 05/15/26 (EUR)		300,000		299,006
5.375%, 05/15/27 (a)		431,000		371,751
6.625%, 05/15/23		460,000		454,250
Element Solutions, Inc. 5.875%, 12/01/25 (144A)		3,047,000		3,188,990
GCP Applied Technologies, Inc. 5.500%, 04/15/26 (144A)		458,000		467,160
Monitchem HoldCo 3 S.A.
4.825%, 3M EURIBOR + 5.250%, 03/15/25 (EUR)		100,000		109,314
5.250%, 03/15/25 (EUR)		100,000		109,268
NOVA Chemicals Corp. 4.875%, 06/01/24 (144A)		161,000		165,564
OCI NV 5.000%, 04/15/23 (EUR)		110,000		125,466
PQ Corp. 5.750%, 12/15/25 (144A)		1,236,000		1,273,080
Chemicals—(Continued)
TPC Group, Inc. 10.500%, 08/01/24 (144A)		700,000		729,750
Versum Materials, Inc. 5.500%, 09/30/24 (144A)		352,000		374,880
WR Grace & Co-Conn 5.625%, 10/01/24 (144A)		275,000		296,313
				13,882,932
Coal—0.2%
CONSOL Energy, Inc. 11.000%, 11/15/25 (144A)		1,106,000		1,103,235
Commercial Services—3.5%
Algeco Global Finance plc
6.500%, 02/15/23 (EUR)		200,000		218,535
8.000%, 02/15/23 (144A) (a)		390,000		389,142
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. 5.750%, 07/15/27 (144A)		387,000		399,268
Avis Budget Finance plc 4.750%, 01/30/26 (EUR)		118,000		137,135
BidFair MergeRight, Inc. 7.375%, 10/15/27 (144A)		700,000		713,125
Capitol Investment Merger Sub 2 LLC 10.000%, 08/01/24 (144A)		379,000		393,213
Europcar Mobility Group 4.000%, 04/30/26 (EUR)		100,000		110,902
Flexi-Van Leasing, Inc. 10.000%, 02/15/23 (144A) (a)		219,000		214,073
Gartner, Inc. 5.125%, 04/01/25 (144A)		418,000		437,332
Graham Holdings Co. 5.750%, 06/01/26 (144A)		384,000		412,800
Herc Holdings, Inc. 5.500%, 07/15/27 (144A)		936,000		973,440
Hertz Corp. (The) 7.625%, 06/01/22 (144A)		1,096,000		1,141,210
Hertz Holdings Netherlands B.V. 5.500%, 03/30/23 (EUR)		126,000		143,637
House of Finance NV (The) 4.375%, 07/15/26 (EUR)		100,000		111,306
Intertrust Group B.V. 3.375%, 11/15/25 (EUR)		134,000		153,539
Jaguar Holding Co. II / Pharmaceutical Product Development LLC 6.375%, 08/01/23 (144A)		3,550,000		3,669,812
Laureate Education, Inc. 8.250%, 05/01/25 (144A)		155,000		168,563
Loxam SAS 3.750%, 07/15/26 (EUR)		100,000		112,810
MPH Acquisition Holdings LLC 7.125%, 06/01/24 (144A)		1,167,000		1,075,099
Nexi Capital S.p.A. 4.125%, 11/01/23 (EUR)		100,000		111,832
Nielsen Co. Luxembourg S.a.r.l. (The) 5.000%, 02/01/25 (144A) (a)		163,000		160,759

BHFTI-58

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
Prime Security Services Borrower LLC / Prime Finance, Inc.
5.250%, 04/15/24 (144A)		306,000	$	314,124
5.750%, 04/15/26 (144A)		1,135,000		1,181,875
Refinitiv U.S. Holdings, Inc.
4.500%, 05/15/26 (EUR)		188,000		220,494
4.500%, 05/15/26 (144A) (EUR)		895,000		1,049,693
6.250%, 05/15/26 (144A)		158,000		169,453
6.875%, 11/15/26 (EUR)		100,000		121,693
8.250%, 11/15/26 (144A)		1,881,000		2,076,154
Ritchie Bros Auctioneers, Inc. 5.375%, 01/15/25 (144A)		204,000		212,925
Service Corp. International 5.125%, 06/01/29		766,000		818,662
ServiceMaster Co. LLC (The) 5.125%, 11/15/24 (144A)		817,000		847,637
Team Health Holdings, Inc. 6.375%, 02/01/25 (144A) (a)		591,000		408,381
United Rentals North America, Inc.
4.625%, 10/15/25		1,338,000		1,365,412
4.875%, 01/15/28		355,000		369,200
5.500%, 07/15/25		118,000		122,779
5.500%, 05/15/27		842,000		892,520
5.875%, 09/15/26		242,000		258,045
Verisure Holding AB 3.500%, 05/15/23 (EUR)		119,000		134,219
Verisure Midholding AB 5.750%, 12/01/23 (EUR)		100,000		112,265
Verscend Escrow Corp. 9.750%, 08/15/26 (144A)		2,841,000		3,025,296
WEX, Inc. 4.750%, 02/01/23 (144A)		388,000		391,880
				25,340,239
Computers—1.3%
Banff Merger Sub, Inc.
8.375%, 09/01/26 (EUR)		100,000		100,881
9.750%, 09/01/26 (144A)		3,193,000		3,047,719
Booz Allen Hamilton, Inc. 5.125%, 05/01/25 (144A)		882,000		906,255
Dell International LLC / EMC Corp. 7.125%, 06/15/24 (144A)		1,266,000		1,336,263
Harland Clarke Holdings Corp. 8.375%, 08/15/22 (144A)		295,000		241,900
NCR Corp.
5.750%, 09/01/27 (144A)		265,000		274,275
6.125%, 09/01/29 (144A)		597,000		629,268
Tempo Acquisition LLC / Tempo Acquisition Finance Corp. 6.750%, 06/01/25 (144A)		1,735,000		1,787,050
Western Digital Corp. 4.750%, 02/15/26 (a)		1,273,000		1,309,599
				9,633,210
Cosmetics/Personal Care—0.0%
Avon International Capital plc 6.500%, 08/15/22 (144A)		240,000		248,700
Cosmetics/Personal Care—(Continued)
Coty, Inc. 6.500%, 04/15/26 (144A)		98,000		95,060
				343,760
Distribution/Wholesale—1.4%
American Builders & Contractors Supply Co., Inc. 5.875%, 05/15/26 (144A)		1,044,000		1,093,590
Core & Main Holdings L.P. 8.625%, 9.375% PIK., 09/15/24 (144A) (c)		1,047,000		1,054,852
Core & Main L.P. 6.125%, 08/15/25 (144A)		2,008,000		2,002,980
HD Supply, Inc.
5.375%, 10/15/26 (144A) (a)		3,605,000		3,816,794
IAA, Inc. 5.500%, 06/15/27 (144A)		813,000		857,715
KAR Auction Services, Inc. 5.125%, 06/01/25 (144A)		383,000		396,405
Parts Europe S.A. 5.500%, 3M EURIBOR + 5.500%, 05/01/22 (EUR) (b)		101,000		110,085
Performance Food Group, Inc. 5.500%, 10/15/27 (144A)		585,000		614,250
				9,946,671
Diversified Financial Services—2.9%
Allied Universal Holdco LLC / Allied Universal Finance Corp. 9.750%, 07/15/27 (144A)		210,000		218,845
Allied Universal Holding Co. 6.625%, 07/15/26 (144A)		2,542,000		2,684,987
Ally Financial, Inc.
3.875%, 05/21/24		450,000		465,660
8.000%, 11/01/31		5,351,000		7,397,757
Arrow Global Finance plc 5.125%, 09/15/24 (GBP)		100,000		122,238
Cabot Financial Luxembourg S.A.
6.375%, 3M EURIBOR + 6.375%, 06/14/24 (EUR) (b)		100,000		112,946
7.500%, 10/01/23 (GBP)		100,000		127,392
Credit Acceptance Corp. 6.625%, 03/15/26 (144A)		341,000		364,870
Fairstone Financial, Inc. 7.875%, 07/15/24 (144A)		209,000		218,274
Garfunkelux Holdco 3 S.A. 7.500%, 08/01/22 (EUR)		300,000		310,793
Global Aircraft Leasing Co., Ltd. 6.500%, PIK, 09/15/24 (144A) (c)		1,170,000		1,184,625
Intrum AB 3.500%, 07/15/26 (EUR)		101,000		111,846
Lehman Brothers Holdings, Inc.
Zero Coupon, 10/17/12 (EUR) (d)		350,000		6,485
Zero Coupon, 01/16/14 (EUR) (d)		2,140,000		39,652
Zero Coupon, 02/05/14 (EUR) (d)		4,500,000		83,381
LHC3 plc 4.125%, PIK, 08/15/24 (EUR) (c)		200,000		226,677
Mulhacen Pte, Ltd. 6.500%, 7.250% PIK, 08/01/23 (EUR) (c)		122,036		108,905

BHFTI-59

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
Nationstar Mortgage Holdings, Inc.
8.125%, 07/15/23 (144A)		575,000	$	599,438
9.125%, 07/15/26 (144A)		739,000		787,035
Navient Corp.
5.875%, 10/25/24		464,000		467,480
6.500%, 06/15/22		41,000		43,665
6.625%, 07/26/21		422,000		443,100
6.750%, 06/25/25 (a)		257,000		265,031
6.750%, 06/15/26		499,000		510,377
7.250%, 09/25/23		436,000		473,932
Pershing Square Holdings, Ltd. 5.500%, 07/15/22 (144A)		1,000,000		1,046,850
Springleaf Finance Corp.
5.625%, 03/15/23		70,000		74,725
6.625%, 01/15/28		535,000		575,286
6.875%, 03/15/25		648,000		714,015
7.125%, 03/15/26		873,000		968,441
				20,754,708
Electric—2.4%
Calpine Corp.
5.250%, 06/01/26 (144A)		1,436,000		1,486,260
5.375%, 01/15/23		2,639,000		2,671,987
5.750%, 01/15/25 (a)		1,180,000		1,209,500
5.875%, 01/15/24 (144A)		528,000		539,880
Cheniere Energy Partners LLC 5.750%, 10/15/25 (144A)		492,000		517,830
Clearway Energy Operating LLC 5.375%, 08/15/24		681,000		698,025
ContourGlobal Power Holdings S.A.
3.375%, 08/01/23 (EUR)		100,000		112,914
4.125%, 08/01/25 (EUR)		100,000		115,643
Edison International 5.750%, 06/15/27		100,000		112,391
Naturgy Finance BV
3.375%, 9Y EUR Swap + 3.079%, 04/24/24 (EUR) (b)		100,000		116,612
4.125%, 8Y EUR Swap + 3.353%, 11/18/22 (EUR) (b)		200,000		237,165
NextEra Energy Operating Partners L.P.
4.250%, 07/15/24 (144A)		1,145,000		1,179,350
4.250%, 09/15/24 (144A)		223,000		229,969
4.500%, 09/15/27 (144A)		412,000		421,270
NRG Energy, Inc.
3.750%, 06/15/24 (144A)		323,000		332,405
4.450%, 06/15/29 (144A)		1,077,000		1,122,352
5.250%, 06/15/29 (144A)		1,149,000		1,235,520
5.750%, 01/15/28		658,000		707,350
6.625%, 01/15/27		1,309,000		1,418,105
Orano S.A. 3.375%, 04/23/26 (EUR)		100,000		117,164
RWE AG 2.750%, 5Y EUR Swap + 2.643%, 04/21/75 (EUR) (b)		100,000		111,218
Talen Energy Supply LLC
6.500%, 06/01/25		110,000		83,600
10.500%, 01/15/26 (144A)		110,000		94,875
Electric—(Continued)
Vistra Operations Co. LLC
3.550%, 07/15/24 (144A)		505,000		508,405
4.300%, 07/15/29 (144A)		1,211,000		1,242,788
5.500%, 09/01/26 (144A)		260,000		272,012
5.625%, 02/15/27 (144A)		69,000		72,600
				16,967,190
Electrical Components & Equipment—0.2%
Belden, Inc. 4.125%, 10/15/26 (EUR)		100,000		115,979
Energizer Holdings, Inc.
6.375%, 07/15/26 (144A) (a)		134,000		143,533
7.750%, 01/15/27 (144A)		729,000		812,252
				1,071,764
Electronics—0.5%
ADT Security Corp. (The)
4.125%, 06/15/23		47,000		47,705
4.875%, 07/15/32 (144A)		1,238,000		1,083,250
APX Group, Inc.
7.875%, 12/01/22 (a)		291,000		290,273
8.500%, 11/01/24 (144A)		226,000		228,260
8.750%, 12/01/20		575,000		564,937
Itron, Inc. 5.000%, 01/15/26 (144A)		55,000		56,667
Sensata Technologies B.V.
5.000%, 10/01/25 (144A)		965,000		1,031,344
5.625%, 11/01/24 (144A)		161,000		175,087
Sensata Technologies, Inc. 4.375%, 02/15/30 (144A)		426,000		426,000
				3,903,523
Energy-Alternate Sources—0.3%
Pattern Energy Group, Inc. 5.875%, 02/01/24 (144A)		599,000		613,226
TerraForm Power Operating LLC
4.250%, 01/31/23 (144A)		521,000		531,420
5.000%, 01/31/28 (144A)		617,000		641,680
				1,786,326
Engineering & Construction—0.3%
Brand Industrial Services, Inc. 8.500%, 07/15/25 (144A)		581,000		551,950
frontdoor, inc. 6.750%, 08/15/26 (144A)		991,000		1,085,165
New Enterprise Stone & Lime Co., Inc.
6.250%, 03/15/26 (144A)		166,000		169,735
10.125%, 04/01/22 (144A)		334,000		343,185
Swissport Financing Sarl 5.250%, 08/15/24 (EUR)		100,000		112,946
				2,262,981

BHFTI-60

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Entertainment—2.0%
Boyne USA, Inc. 7.250%, 05/01/25 (144A)		479,000	$	521,918
Cedar Fair L.P. 5.250%, 07/15/29 (144A)		853,000		912,710
Churchill Downs, Inc.
4.750%, 01/15/28 (144A)		569,000		583,225
5.500%, 04/01/27 (144A)		2,013,000		2,128,747
Cirsa Finance International Sarl 7.875%, 12/20/23 (144A)		200,000		212,300
CPUK Finance, Ltd.
4.250%, 08/28/22 (GBP)		100,000		124,366
4.875%, 08/28/25 (GBP)		100,000		125,784
Eldorado Resorts, Inc. 6.000%, 09/15/26		259,000		283,605
Entertainment One, Ltd. 4.625%, 07/15/26 (GBP)		100,000		133,714
LHMC Finco 2 Sarl 7.250%, PIK, 10/02/25 (EUR) (c)		100,000		110,839
Lions Gate Capital Holdings LLC
5.875%, 11/01/24 (144A)		398,000		408,945
6.375%, 02/01/24 (144A)		54,000		57,099
Live Nation Entertainment, Inc.
4.875%, 11/01/24 (144A)		67,000		69,415
Scientific Games International, Inc.
3.375%, 02/15/26 (EUR)		200,000		222,568
5.000%, 10/15/25 (144A)		1,923,000		1,984,151
8.250%, 03/15/26 (144A)		1,935,000		2,060,775
Six Flags Entertainment Corp.
4.875%, 07/31/24 (144A)		1,480,000		1,531,800
5.500%, 04/15/27 (144A)		1,105,000		1,178,184
Waterford Gaming LLC / Waterford Gaming Financial Corp. 8.625%, 09/15/49 (144A) (d) (f) (g) (h)		294,455		0
WMG Acquisition Corp.
4.125%, 11/01/24 (EUR)		90,000		101,381
5.500%, 04/15/26 (144A)		373,000		391,650
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. 5.125%, 10/01/29 (144A)		1,064,000		1,114,966
				14,258,142
Environmental Control—0.7%
Advanced Disposal Services, Inc. 5.625%, 11/15/24 (144A)		336,000		350,700
Clean Harbors, Inc.
4.875%, 07/15/27 (144A)		600,000		626,250
5.125%, 07/15/29 (144A)		458,000		485,480
GFL Environmental, Inc.
7.000%, 06/01/26 (144A)		1,027,000		1,080,917
8.500%, 05/01/27 (144A)		1,217,000		1,349,349
Tervita Corp. 7.625%, 12/01/21 (144A)		675,000		685,969
Waste Pro USA, Inc. 5.500%, 02/15/26 (144A)		461,000		475,273
				5,053,938
Food—1.7%
Albertsons Cos., Inc / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC
5.750%, 03/15/25		246,000		253,380
5.875%, 02/15/28 (144A)		882,000		933,544
6.625%, 06/15/24		253,000		265,018
Chobani LLC / Chobani Finance Corp., Inc. 7.500%, 04/15/25 (144A) (a)		626,000		599,395
JBS USA LUX S.A. / JBS USA Finance, Inc.
5.750%, 06/15/25 (144A)		2,966,000		3,090,038
5.875%, 07/15/24 (144A)		518,000		533,566
6.500%, 04/15/29 (144A)		1,730,000		1,920,300
6.750%, 02/15/28 (144A)		478,000		529,385
JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc. 5.500%, 01/15/30 (144A)		1,259,000		1,334,515
Nomad Foods Bondco plc 3.250%, 05/15/24 (EUR)		100,000		112,265
Post Holdings, Inc.
5.500%, 03/01/25 (144A)		62,000		64,945
5.500%, 12/15/29 (144A)		1,237,000		1,289,572
5.750%, 03/01/27 (144A)		105,000		111,321
Simmons Foods, Inc. 7.750%, 01/15/24 (144A)		590,000		638,675
Tesco Corporate Treasury Services plc 2.500%, 05/02/25 (GBP)		100,000		124,977
				11,800,896
Food Service—0.3%
Aramark Services, Inc.
4.750%, 06/01/26		275,000		283,250
5.000%, 04/01/25 (144A)		432,000		446,040
5.000%, 02/01/28 (144A) (a)		1,213,000		1,258,488
				1,987,778
Hand/Machine Tools—0.3%
Colfax Corp.
6.000%, 02/15/24 (144A)		1,171,000		1,239,328
6.375%, 02/15/26 (144A)		593,000		638,031
				1,877,359
Healthcare-Products—2.0%
Avantor, Inc.
4.750%, 10/01/24 (EUR)		107,000		124,450
6.000%, 10/01/24 (144A)		4,100,000		4,393,273
9.000%, 10/01/25 (144A)		2,882,000		3,238,647
Hill-Rom Holdings, Inc. 4.375%, 09/15/27 (144A) (a)		192,000		196,291
Hologic, Inc.
4.375%, 10/15/25 (144A)		275,000		281,875
4.625%, 02/01/28 (144A)		406,000		419,702
Immucor, Inc. 11.125%, 02/15/22 (144A)		216,000		218,430
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics S.A. 6.625%, 05/15/22 (144A)		3,978,000		3,885,313
Sotera Health Holdings LLC 6.500%, 05/15/23 (144A)		891,000		909,934

BHFTI-61

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—(Continued)
Teleflex, Inc.
4.625%, 11/15/27		28,000	$	29,225
4.875%, 06/01/26		391,000		407,618
				14,104,758
Healthcare-Services—5.2%
Acadia Healthcare Co., Inc. 5.125%, 07/01/22		119,000		119,893
AHP Health Partners, Inc. 9.750%, 07/15/26 (144A)		392,000		415,591
Catalent Pharma Solutions, Inc.
4.875%, 01/15/26 (144A)		564,000		580,215
5.000%, 07/15/27 (144A)		838,000		869,425
Centene Corp.
4.750%, 01/15/25		108,000		110,862
5.375%, 06/01/26 (144A)		4,410,000		4,619,475
Charles River Laboratories International, Inc. 5.500%, 04/01/26 (144A)		941,000		1,000,970
CHS/Community Health Systems Inc.
8.000%, 03/15/26 (144A)		1,420,000		1,416,450
8.625%, 01/15/24 (144A)		1,543,000		1,593,147
Eagle Holding Co. II LLC
7.625%, 8.375% PIK, 05/15/22 (144A) (c)		162,000		163,215
7.750%, 7.750%, PIK, 05/15/22 (144A) (c)		745,000		750,588
Envision Healthcare Corp. 8.750%, 10/15/26 (144A) (a)		459,000		279,990
HCA, Inc.
5.375%, 02/01/25		1,326,000		1,448,655
5.375%, 09/01/26		703,000		772,386
5.625%, 09/01/28		1,881,000		2,095,998
5.875%, 02/15/26		65,000		72,670
5.875%, 02/01/29		2,028,000		2,268,825
MEDNAX, Inc.
5.250%, 12/01/23 (144A)		358,000		363,907
6.250%, 01/15/27 (144A)		1,610,000		1,597,812
Molina Healthcare, Inc.
4.875%, 06/15/25 (144A)		898,000		902,490
5.375%, 11/15/22		372,000		394,335
Polaris Intermediate Corp. 8.500%, PIK, 12/01/22 (144A) (a) (c)		1,268,333		1,078,083
RegionalCare Hospital Partners Holdings, Inc. 8.250%, 05/01/23 (144A)		1,296,000		1,378,620
Surgery Center Holdings, Inc.
6.750%, 07/01/25 (144A) (a)		1,036,000		929,810
10.000%, 04/15/27 (144A)		417,000		423,255
Tenet Healthcare Corp.
4.625%, 07/15/24		1,463,000		1,503,569
4.625%, 09/01/24 (144A)		777,000		799,284
4.875%, 01/01/26 (144A)		3,155,000		3,237,819
5.125%, 11/01/27 (144A)		2,065,000		2,133,868
6.250%, 02/01/27 (144A)		539,000		560,506
8.125%, 04/01/22		1,010,000		1,093,325
WellCare Health Plans, Inc.
5.250%, 04/01/25		677,000		704,926
Healthcare-Services—(Continued)
WellCare Health Plans, Inc.
5.375%, 08/15/26 (144A)		1,247,000		1,330,923
				37,010,887
Home Builders—1.2%
Brookfield Residential Properties, Inc. / Brookfield Residential U.S. Corp.
6.125%, 07/01/22 (144A)		78,000		79,217
6.250%, 09/15/27 (144A)		510,000		512,550
Installed Building Products, Inc. 5.750%, 02/01/28 (144A)		273,000		281,531
Lennar Corp.
4.750%, 11/29/27		1,653,000		1,772,842
4.875%, 12/15/23		139,000		147,688
5.250%, 06/01/26		881,000		952,581
Mattamy Group Corp.
6.500%, 10/01/25 (144A)		92,000		96,600
6.875%, 12/15/23 (144A)		387,000		402,480
MDC Holdings, Inc. 6.000%, 01/15/43		268,000		276,710
Meritage Homes Corp. 5.125%, 06/06/27		186,000		196,230
PulteGroup, Inc.
6.000%, 02/15/35		583,000		620,895
6.375%, 05/15/33		413,000		457,026
Taylor Morrison Communities, Inc. 5.875%, 06/15/27 (144A)		573,000		628,868
Toll Brothers Finance Corp. 3.800%, 11/01/29		389,000		382,924
TRI Pointe Group, Inc.
4.875%, 07/01/21		288,000		296,640
5.250%, 06/01/27		174,000		174,435
TRI Pointe Group, Inc. / TRI Pointe Homes, Inc.
5.875%, 06/15/24		107,000		113,955
Williams Scotsman International, Inc.
6.875%, 08/15/23 (144A)		1,077,000		1,128,157
7.875%, 12/15/22 (144A)		123,000		128,535
				8,649,864
Home Furnishings—0.0%
Tempur Sealy International, Inc. 5.500%, 06/15/26		14,000		14,595
Household Products/Wares—0.1%
Spectrum Brands, Inc.
5.000%, 10/01/29 (144A)		234,000		238,095
5.750%, 07/15/25		162,000		169,045
				407,140
Insurance—1.2%
Acrisure LLC / Acrisure Finance, Inc. 8.125%, 02/15/24 (144A)		432,000		465,480
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 8.250%, 08/01/23 (144A)		2,741,000		2,799,246
AmWINS Group, Inc. 7.750%, 07/01/26 (144A)		304,000		326,800

BHFTI-62

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Ardonagh Midco 3 plc 8.625%, 07/15/23 (144A) (a)		228,000	$	220,020
Assicurazioni Generali S.p.A.
2.124%, 10/01/30 (EUR)		100,000		110,492
5.500%, 3M EURIBOR + 5.350%, 10/27/47 (EUR) (b)		100,000		130,953
Caisse Nationale de Reassurance Mutuelle Agricole Groupama 6.000%, 01/23/27 (EUR)		100,000		138,702
CNO Financial Group, Inc. 5.250%, 05/30/29		763,000		835,485
Galaxy Bidco, Ltd. 6.500%, 07/31/26 (GBP)		100,000		121,049
GTCR AP Finance, Inc. 8.000%, 05/15/27 (144A)		611,000		627,803
HUB International, Ltd. 7.000%, 05/01/26 (144A)		2,670,000		2,746,762
				8,522,792
Internet—1.5%
Go Daddy Operating Co. LLC / GD Finance Co., Inc. 5.250%, 12/01/27 (144A)		491,000		516,164
Netflix, Inc.
3.875%, 11/15/29 (EUR)		199,000		229,914
4.875%, 04/15/28		51,000		51,890
5.375%, 11/15/29 (144A)		1,475,000		1,534,000
5.875%, 11/15/28		2,131,000		2,314,905
Uber Technologies, Inc.
7.500%, 11/01/23 (144A)		550,000		554,125
7.500%, 09/15/27 (144A)		752,000		750,120
United Group B.V.
4.375%, 07/01/22 (EUR)		126,000		140,077
4.875%, 07/01/24 (EUR)		100,000		113,335
Zayo Group LLC / Zayo Capital, Inc.
5.750%, 01/15/27 (144A)		3,547,000		3,626,098
6.000%, 04/01/23		231,000		237,064
6.375%, 05/15/25		553,000		569,479
				10,637,171
Investment Companies—0.4%
Icahn Enterprises L.P. / Icahn Enterprises Finance Corp.
4.750%, 09/15/24 (144A)		175,000		174,825
6.250%, 05/15/26 (144A)		983,000		1,029,693
6.375%, 12/15/25		586,000		616,186
6.750%, 02/01/24		244,000		253,760
Owl Rock Capital Corp. 5.250%, 04/15/24		412,000		433,536
				2,508,000
Iron/Steel—0.2%
Big River Steel LLC / BRS Finance Corp. 7.250%, 09/01/25 (144A)		519,000		547,545
Steel Dynamics, Inc.
4.125%, 09/15/25		514,000		519,140
5.000%, 12/15/26		120,000		125,700
5.500%, 10/01/24		10,000		10,263
Iron/Steel—(Continued)
thyssenKrupp AG 1.875%, 03/06/23 (EUR)		43,000		46,821
thyssenkrupp AG 2.875%, 02/22/24 (EUR)		181,000		203,199
				1,452,668
Leisure Time—0.5%
Pinnacle Bidco plc 6.375%, 02/15/25 (GBP)		100,000		130,787
Sabre GLBL, Inc.
5.250%, 11/15/23 (144A)		386,000		396,615
5.375%, 04/15/23 (144A)		536,000		546,720
Viking Cruises, Ltd. 5.875%, 09/15/27 (144A) (a)		2,329,000		2,467,809
				3,541,931
Lodging—1.1%
Hilton Domestic Operating Co., Inc.
4.250%, 09/01/24		94,000		95,763
4.875%, 01/15/30 (144A)		2,506,000		2,645,960
5.125%, 05/01/26		728,000		764,400
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. 4.875%, 04/01/27		361,000		381,649
Marriott Ownership Resorts, Inc. / ILG LLC 6.500%, 09/15/26		86,000		92,665
MGM Resorts International
6.000%, 03/15/23		111,000		122,289
6.625%, 12/15/21		1,042,000		1,130,049
7.750%, 03/15/22		1,220,000		1,364,887
NH Hotel Group S.A. 3.750%, 10/01/23 (EUR)		89,921		99,479
Station Casinos LLC 5.000%, 10/01/25 (144A)		590,000		598,732
Wyndham Destinations, Inc.
5.400%, 04/01/24		19,000		20,045
5.750%, 04/01/27		150,000		162,000
Wyndham Hotels & Resorts, Inc.
5.375%, 04/15/26 (144A)		384,000		402,240
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. 5.250%, 05/15/27 (144A)		195,000		200,362
				8,080,520
Machinery-Construction & Mining—0.6%
BWX Technologies, Inc. 5.375%, 07/15/26 (144A)		985,000		1,035,481
Terex Corp. 5.625%, 02/01/25 (144A)		929,000		953,386
Vertiv Group Corp.
9.250%, 10/15/24 (144A)		886,000		853,883
10.000%, 05/15/24 (144A)		1,142,000		1,173,702
				4,016,452
Machinery-Diversified—0.7%
Manitowoc Co., Inc (The) 9.000%, 04/01/26 (144A)		308,000		301,840

BHFTI-63

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Machinery-Diversified—(Continued)
Mueller Water Products, Inc. 5.500%, 06/15/26 (144A)		831,000	$	868,395
Platin 1426 GmbH 5.375%, 06/15/23 (EUR)		100,000		102,570
RBS Global, Inc. / Rexnord LLC 4.875%, 12/15/25 (144A)		1,435,000		1,474,319
SPX FLOW, Inc.
5.625%, 08/15/24 (144A)		383,000		395,447
5.875%, 08/15/26 (144A)		256,000		267,520
Stevens Holding Co., Inc. 6.125%, 10/01/26 (144A)		365,000		388,269
Titan Acquisition, Ltd. / Titan Co-Borrower LLC 7.750%, 04/15/26 (144A) (a)		1,342,000		1,258,125
				5,056,485
Media—8.0%
Altice Financing S.A.
6.625%, 02/15/23 (144A) (a)		853,000		875,391
7.500%, 05/15/26 (144A)		1,714,000		1,821,108
Altice Luxembourg S.A.
7.625%, 02/15/25 (144A)		986,000		1,027,905
7.750%, 05/15/22 (144A)		2,874,000		2,935,072
8.000%, 05/15/27 (EUR)		100,000		119,672
10.500%, 05/15/27 (144A)		2,436,000		2,745,372
AMC Networks, Inc. 4.750%, 08/01/25		1,353,000		1,395,281
CCO Holdings LLC / CCO Holdings Capital Corp.
4.000%, 03/01/23 (144A)		31,000		31,504
5.000%, 02/01/28 (144A)		1,188,000		1,228,095
5.125%, 05/01/27 (144A)		2,346,000		2,448,638
5.375%, 06/01/29 (144A)		3,527,000		3,756,255
5.875%, 05/01/27 (144A)		106,000		112,095
Clear Channel Worldwide Holdings, Inc.
5.125%, 08/15/27 (144A)		3,832,000		3,992,369
9.250%, 02/15/24 (144A)		2,329,000		2,558,779
CSC Holdings LLC
5.250%, 06/01/24		264,000		283,800
5.375%, 07/15/23 (144A)		1,746,000		1,791,833
5.375%, 02/01/28 (144A)		600,000		632,250
5.500%, 05/15/26 (144A)		684,000		719,842
5.750%, 01/15/30 (144A)		976,000		1,020,037
6.500%, 02/01/29 (144A)		2,627,000		2,919,845
6.625%, 10/15/25 (144A)		544,000		582,243
7.750%, 07/15/25 (144A)		1,518,000		1,632,154
Diamond Sports Group LLC / Diamond Sports Finance Co. 5.375%, 08/15/26 (144A)		1,970,000		2,043,875
DISH DBS Corp.
5.000%, 03/15/23 (a)		1,456,000		1,470,997
5.875%, 07/15/22		2,087,000		2,170,480
5.875%, 11/15/24 (a)		309,000		306,296
6.750%, 06/01/21		640,000		673,472
Entercom Media Corp. 6.500%, 05/01/27 (144A)		308,000		321,860
GCI LLC 6.625%, 06/15/24 (144A)		331,000		357,066
Media—(Continued)
Gray Television, Inc. 7.000%, 05/15/27 (144A)		333,000		365,867
iHeartCommunications, Inc.
5.250%, 08/15/27 (144A)		681,000		708,240
6.375%, 05/01/26		351,054		379,138
Meredith Corp. 6.875%, 02/01/26 (a)		128,000		130,080
Midcontinent Communications / Midcontinent Finance Corp. 5.375%, 08/15/27 (144A)		366,000		385,215
Radiate Holdco LLC / Radiate Finance, Inc.
6.625%, 02/15/25 (144A)		293,000		295,080
6.875%, 02/15/23 (144A)		136,000		139,910
Sirius XM Radio, Inc.
4.625%, 07/15/24 (144A)		329,000		341,117
5.000%, 08/01/27 (144A)		1,813,000		1,870,019
5.500%, 07/01/29 (144A)		1,060,000		1,131,550
Summer BidCo B.V. 9.000%, 9.750% PIK, 11/15/25 (EUR) (c)		100,000		114,645
TEGNA, Inc. 5.500%, 09/15/24 (144A)		158,000		162,740
Telenet Finance Luxembourg Notes S.a.r.l. 5.500%, 03/01/28 (144A)		800,000		838,000
Telenet Finance VI Luxembourg SCA 4.875%, 07/15/27 (EUR)		117,600		141,584
Univision Communications, Inc. 5.125%, 02/15/25 (144A)		906,000		881,085
UPC Holding B.V. 3.875%, 06/15/29 (EUR)		100,000		114,472
UPCB Finance VII, Ltd. 3.625%, 06/15/29 (EUR)		100,000		115,685
Videotron, Ltd. 5.125%, 04/15/27 (144A)		1,176,000		1,243,620
Virgin Media Finance plc 5.750%, 01/15/25 (144A)		1,439,000		1,482,170
Virgin Media Receivables Financing Notes I DAC
5.500%, 09/15/24 (GBP)		113,000		142,100
Virgin Media Secured Finance plc
4.875%, 01/15/27 (GBP)		100,000		127,863
5.250%, 01/15/26 (144A)		209,000		214,748
5.500%, 05/15/29 (144A)		588,000		612,990
6.250%, 03/28/29 (GBP)		89,700		117,184
Ziggo B.V.
4.250%, 01/15/27 (EUR)		100,000		117,442
5.500%, 01/15/27 (144A)		1,121,000		1,168,643
Ziggo Bond Co. B.V.
5.875%, 01/15/25 (144A)		915,000		940,163
6.000%, 01/15/27 (144A)		651,000		679,481
				56,934,417
Metal Fabricate/Hardware—0.2%
Advanced Drainage Systems, Inc. 5.000%, 09/30/27 (144A)		558,000		565,667
Grinding Media, Inc. / Moly-Cop AltaSteel, Ltd. 7.375%, 12/15/23 (144A)		730,000		697,150
				1,262,817

BHFTI-64

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Mining—2.3%
Constellium SE
5.875%, 02/15/26 (144A) (a)		2,404,000	$	2,506,170
6.625%, 03/01/25 (144A)		1,168,000		1,217,640
Freeport-McMoRan, Inc.
3.550%, 03/01/22		1,263,000		1,266,158
3.875%, 03/15/23		1,403,000		1,413,522
5.000%, 09/01/27		259,000		258,029
5.250%, 09/01/29		499,000		497,648
5.450%, 03/15/43		4,617,000		4,157,054
Kaiser Aluminum Corp. 5.875%, 05/15/24		286,000		297,757
New Gold, Inc. 6.250%, 11/15/22 (144A)		890,000		892,403
Novelis Corp.
5.875%, 09/30/26 (144A)		1,891,000		1,983,186
6.250%, 08/15/24 (144A)		2,129,000		2,224,805
				16,714,372
Miscellaneous Manufacturing—0.2%
Amsted Industries, Inc. 5.625%, 07/01/27 (144A)		339,000		357,645
Gates Global LLC / Gates Global Co. 6.000%, 07/15/22 (144A)		749,000		746,191
				1,103,836
Office/Business Equipment—0.2%
CDW LLC / CDW Finance Corp.
4.250%, 04/01/28		243,000		247,884
5.000%, 09/01/25		365,000		380,285
Xerox Corp.
4.800%, 03/01/35		722,000		615,505
6.750%, 12/15/39 (a)		116,000		117,740
				1,361,414
Oil & Gas—5.5%
Aker BP ASA 4.750%, 06/15/24 (144A)		529,000		552,540
Antero Resources Corp. 5.375%, 11/01/21		352,000		340,560
Ascent Resources Utica Holdings LLC / ARU Finance Corp. 10.000%, 04/01/22 (144A)		771,000		770,769
Berry Petroleum Co. LLC 7.000%, 02/15/26 (144A)		362,000		346,615
Brazos Valley Longhorn LLC / Brazos Valley Longhorn Finance Corp.
6.875%, 02/01/25		361,000		310,460
California Resources Corp. 8.000%, 12/15/22 (144A) (a)		46,000		22,770
Callon Petroleum Co.
6.125%, 10/01/24		486,000		478,710
6.375%, 07/01/26 (a)		405,000		395,219
Carrizo Oil & Gas, Inc.
6.250%, 04/15/23 (a)		394,000		373,315
8.250%, 07/15/25		647,000		633,801
Centennial Resource Production LLC 6.875%, 04/01/27 (144A)		428,000		426,930
Oil & Gas—(Continued)
Chesapeake Energy Corp.
4.875%, 04/15/22 (a)		1,704,000		1,375,980
5.750%, 03/15/23		499,000		381,735
6.625%, 08/15/20		542,000		544,710
7.000%, 10/01/24		480,000		344,400
8.000%, 03/15/26 (144A)		318,000		217,830
CNX Resources Corp. 5.875%, 04/15/22		2,404,000		2,307,840
Comstock Resources, Inc. 9.750%, 08/15/26		480,000		400,800
Covey Park Energy LLC / Covey Park Finance Corp. 7.500%, 05/15/25 (144A)		619,000		495,200
CrownRock L.P. / CrownRock Finance, Inc. 5.625%, 10/15/25 (144A)		2,337,000		2,351,560
Denbury Resources, Inc.
9.000%, 05/15/21 (144A)		608,000		563,920
9.250%, 03/31/22 (144A)		612,000		535,500
Endeavor Energy Resources L.P. / EER Finance, Inc.
5.500%, 01/30/26 (144A)		1,206,000		1,254,240
5.750%, 01/30/28 (144A)		745,000		791,562
Extraction Oil & Gas, Inc.
5.625%, 02/01/26 (144A)		1,106,000		677,425
7.375%, 05/15/24 (144A)		986,000		645,830
Great Western Petroleum LLC / Great Western Finance Corp. 9.000%, 09/30/21 (144A)		865,000		752,550
Indigo Natural Resources LLC 6.875%, 02/15/26 (144A)		570,000		513,712
Ithaca Energy North Sea plc 9.375%, 07/15/24 (144A)		200,000		208,700
Matador Resources Co. 5.875%, 09/15/26		623,000		624,184
MEG Energy Corp.
6.375%, 01/30/23 (144A)		545,000		525,925
6.500%, 01/15/25 (144A)		1,767,000		1,802,340
7.000%, 03/31/24 (144A)		169,000		163,085
Murphy Oil Corp.
5.625%, 12/01/42		230,000		202,400
5.750%, 08/15/25		221,000		224,315
Nabors Industries, Inc.
4.625%, 09/15/21		439,000		414,855
5.500%, 01/15/23 (a)		103,000		84,718
Neptune Energy Bondco plc 6.625%, 05/15/25 (144A)		200,000		205,500
Noble Holding International, Ltd.
7.750%, 01/15/24		42,000		27,300
7.875%, 02/01/26 (144A) (a)		1,339,000		964,080
Northern Oil and Gas, Inc. 8.500%, 1.000%, PIK, 05/15/23 (c)		116,378		119,869
Pacific Drilling S.A.
8.375%, 10/01/23 (144A)		1,371,000		1,151,640
Parkland Fuel Corp. 5.875%, 07/15/27 (144A)		473,000		496,324
Parsley Energy LLC / Parsley Finance Corp.
5.250%, 08/15/25 (144A)		43,000		43,633
5.375%, 01/15/25 (144A)		731,000		740,137

BHFTI-65

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Parsley Energy LLC / Parsley Finance Corp.
5.625%, 10/15/27 (144A)		573,000	$	591,622
6.250%, 06/01/24 (144A)		310,000		320,850
PBF Holding Co. LLC / PBF Finance Corp. 7.250%, 06/15/25		282,000		292,223
PDC Energy, Inc.
5.750%, 05/15/26		281,000		276,813
6.125%, 09/15/24		97,000		96,758
QEP Resources, Inc.
5.250%, 05/01/23 (a)		175,000		162,316
5.375%, 10/01/22		962,000		920,201
5.625%, 03/01/26		526,000		452,360
6.875%, 03/01/21		130,000		129,025
Range Resources Corp.
5.000%, 08/15/22		338,000		316,875
5.750%, 06/01/21		290,000		287,825
5.875%, 07/01/22		466,000		446,195
Repsol International Finance B.V.
3.875%, 6Y EUR Swap + 3.560%, 03/25/21 (EUR) (b)		100,000		114,172
4.500%, 10Y EUR Swap + 4.200%, 03/25/75 (EUR) (b)		100,000		125,217
Rowan Cos., Inc. 4.875%, 06/01/22		1,175,000		881,250
SM Energy Co.
5.000%, 01/15/24		379,000		340,152
5.625%, 06/01/25		250,000		214,325
6.125%, 11/15/22		334,000		320,089
6.625%, 01/15/27		64,000		55,040
6.750%, 09/15/26		211,000		184,625
Southwestern Energy Co.
6.200%, 01/23/25		273,000		241,605
7.750%, 10/01/27 (a)		220,000		191,813
SRC Energy, Inc. 6.250%, 12/01/25		246,000		243,535
Sunoco L.P. / Sunoco Finance Corp.
4.875%, 01/15/23		435,000		446,419
5.500%, 02/15/26		73,000		76,188
5.875%, 03/15/28		282,000		299,273
6.000%, 04/15/27		294,000		311,640
Transocean Pontus, Ltd. 6.125%, 08/01/25 (144A)		140,620		142,729
Transocean Poseidon, Ltd. 6.875%, 02/01/27 (144A)		438,000		451,140
Transocean, Inc.
6.500%, 11/15/20		65,000		66,300
7.250%, 11/01/25 (144A)		412,000		363,075
7.500%, 01/15/26 (144A) (a)		368,000		326,600
8.375%, 12/15/21		72,000		73,800
9.000%, 07/15/23 (144A)		1,901,000		1,972,287
Valaris plc 4.700%, 03/15/21		38,000		33,060
Whiting Petroleum Corp. 6.625%, 01/15/26 (a)		38,000		25,650
WPX Energy, Inc.
5.250%, 09/15/24		248,000		254,128
5.250%, 10/15/27		337,000		339,528
Oil & Gas—(Continued)
WPX Energy, Inc.
5.750%, 06/01/26		64,000		65,600
8.250%, 08/01/23		91,000		102,375
				39,360,166
Oil & Gas Services—0.3%
Apergy Corp. 6.375%, 05/01/26		518,000		514,115
Archrock Partners L.P. / Archrock Partners Finance Corp. 6.875%, 04/01/27 (144A)		422,000		447,831
USA Compression Partners L.P. / USA Compression Finance Corp.
6.875%, 04/01/26		656,000		680,600
6.875%, 09/01/27 (144A)		631,000		651,507
				2,294,053
Packaging & Containers—2.5%
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.
4.125%, 08/15/26 (144A)		546,000		549,412
4.625%, 05/15/23 (144A)		2,140,000		2,190,825
4.750%, 07/15/27 (144A) (GBP)		151,000		189,813
4.750%, 07/15/27 (GBP)		100,000		125,704
Berry Global, Inc. 4.875%, 07/15/26 (144A)		962,000		994,371
Crown Americas LLC / Crown Americas Capital Corp.
4.250%, 09/30/26		303,000		313,605
4.750%, 02/01/26		1,392,000		1,456,380
Crown European Holdings S.A.
2.250%, 02/01/23 (144A) (EUR)		100,000		114,761
3.375%, 05/15/25 (EUR)		128,000		154,566
Graphic Packaging International LLC 4.750%, 07/15/27 (144A)		292,000		306,600
Greif, Inc. 6.500%, 03/01/27 (144A)		96,000		101,808
Intertape Polymer Group, Inc. 7.000%, 10/15/26 (144A)		273,000		284,603
LABL Escrow Issuer LLC 6.750%, 07/15/26 (144A)		766,000		796,161
Matthews International Corp. 5.250%, 12/01/25 (144A)		55,000		52,113
Mauser Packaging Solutions Holding Co. 5.500%, 04/15/24 (144A)		2,960,000		3,051,908
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC
5.125%, 07/15/23 (144A)		486,000		497,543
7.000%, 07/15/24 (144A)		1,251,000		1,296,349
Sealed Air Corp. 5.125%, 12/01/24 (144A)		106,000		113,420
Trivium Packaging Finance B.V.
3.750%, 08/15/26 (EUR)		128,000		147,536
5.500%, 08/15/26 (144A) (a)		2,290,000		2,407,248
8.500%, 08/15/27 (144A)		2,552,000		2,759,350
				17,904,076
Pharmaceuticals—2.5%
Bausch Health Americas, Inc. 8.500%, 01/31/27 (144A)		1,419,000		1,592,544

BHFTI-66

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Bausch Health Cos., Inc.
4.500%, 05/15/23 (EUR)		1,217,000	$	1,339,469
5.500%, 03/01/23 (144A)		1,241,000		1,256,513
5.500%, 11/01/25 (144A)		2,471,000		2,585,531
5.750%, 08/15/27 (144A)		770,000		832,239
5.875%, 05/15/23 (144A)		334,000		338,175
6.125%, 04/15/25 (144A)		340,000		352,750
7.000%, 03/15/24 (144A)		1,144,000		1,202,298
7.000%, 01/15/28 (144A)		1,009,000		1,086,794
7.250%, 05/30/29 (144A)		1,915,000		2,091,754
9.000%, 12/15/25 (144A)		1,452,000		1,629,870
Bayer AG 3.750%, 5Y EUR Swap + 2.550%, 07/01/74 (EUR) (b)		100,000		116,345
Elanco Animal Health, Inc. 4.900%, 08/28/28		480,000		523,703
Nidda Bond Co. GmbH 7.250%, 09/30/25 (EUR)		175,000		202,109
NVA Holdings, Inc. 6.875%, 04/01/26 (144A) (h)		382,000		405,398
Par Pharmaceutical, Inc. 7.500%, 04/01/27 (144A)		1,485,000		1,351,350
Rossini Sarl 6.750%, 10/30/25 (EUR)		141,000		169,382
Vizient, Inc. 6.250%, 05/15/27 (144A)		688,000		737,880
				17,814,104
Pipelines—2.8%
Antero Midstream Partners L.P. / Antero Midstream Finance Corp. 5.375%, 09/15/24		140,000		125,958
Cheniere Corpus Christi Holdings LLC
5.125%, 06/30/27		2,267,000		2,482,365
5.875%, 03/31/25		538,000		598,525
7.000%, 06/30/24		220,000		252,725
Cheniere Energy Partners L.P.
4.500%, 10/01/29 (144A)		1,275,000		1,306,078
5.250%, 10/01/25		11,000		11,443
5.625%, 10/01/26		1,119,000		1,187,427
Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp. 5.625%, 05/01/27 (144A)		892,000		910,678
DCP Midstream Operating L.P.
5.125%, 05/15/29		248,000		252,650
5.375%, 07/15/25		226,000		240,690
6.450%, 11/03/36 (144A)		620,000		646,350
6.750%, 09/15/37 (144A)		917,000		965,142
EnLink Midstream LLC		178,000		169,990
EnLink Midstream Partners L.P.
4.150%, 06/01/25		54,000		50,085
4.400%, 04/01/24		530,000		510,416
4.850%, 07/15/26		60,000		57,000
5.050%, 04/01/45		485,000		388,000
5.450%, 06/01/47		143,000		116,545
5.600%, 04/01/44		375,000		306,563
Pipelines—(Continued)
Genesis Energy L.P. / Genesis Energy Finance Corp.
5.625%, 06/15/24		90,000		86,175
6.000%, 05/15/23		168,000		168,630
6.250%, 05/15/26		232,000		223,300
6.500%, 10/01/25		227,000		221,325
Hess Infrastructure Partners L.P. / Hess Infrastructure Partners Finance Corp. 5.625%, 02/15/26 (144A)		458,000		478,610
Kinder Morgan, Inc. 6.700%, 02/15/27		62,930		72,718
NGPL PipeCo LLC 7.768%, 12/15/37 (144A)		715,000		926,540
NuStar Logistics L.P.
6.000%, 06/01/26		354,000		383,134
Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp.
4.750%, 10/01/23 (144A)		187,000		187,468
5.500%, 09/15/24 (144A)		834,000		829,830
5.500%, 01/15/28 (144A)		961,000		939,281
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp.
5.000%, 01/15/28		1,040,000		1,051,752
5.125%, 02/01/25		314,000		322,902
5.375%, 02/01/27		22,000		22,743
5.875%, 04/15/26		203,000		214,419
6.500%, 07/15/27 (144A)		696,000		759,399
6.875%, 01/15/29 (144A)		2,664,000		2,910,606
				20,377,462
Real Estate—0.4%
ADLER Real Estate AG
1.875%, 04/27/23 (EUR)		100,000		110,521
3.000%, 04/27/26 (EUR)		100,000		115,150
Demire Real Estate AG 1.875%, 10/15/24 (EUR)		100,000		108,349
Five Point Operating Co. L.P. / Five Point Capital Corp. 7.875%, 11/15/25 (144A)		500,000		507,500
Greystar Real Estate Partners LLC 5.750%, 12/01/25 (144A)		402,000		413,558
Howard Hughes Corp. (The) 5.375%, 03/15/25 (144A)		393,000		410,685
Newmark Group, Inc. 6.125%, 11/15/23		230,000		249,533
Residomo SRO 3.375%, 10/15/24 (EUR)		107,000		120,403
Summit Properties, Ltd. 2.000%, 01/31/25 (EUR)		100,000		104,646
Tropicana Entertainment LLC / Tropicana Finance Corp. 9.625%, 12/15/14 (d) (f) (g)		70,000		0
Unique Pub Finance Co. plc (The) 6.464%, 03/30/32 (GBP)		300,000		423,663
WeWork Cos., Inc. 7.875%, 05/01/25 (144A) (a)		468,000		397,215
				2,961,223

BHFTI-67

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—2.7%
Brookfield Property REIT, Inc. 5.750%, 05/15/26 (144A)		364,000	$	380,380
CyrusOne L.P. / CyrusOne Finance Corp. 5.375%, 03/15/27		495,000		527,794
Equinix, Inc.
2.875%, 03/15/24 (EUR)		200,000		226,025
2.875%, 10/01/25 (EUR)		136,000		153,421
GLP Capital L.P. / GLP Financing II, Inc.
3.350%, 09/01/24		230,000		231,311
4.000%, 01/15/30		1,065,000		1,070,293
5.250%, 06/01/25		279,000		307,327
5.375%, 04/15/26		229,000		252,186
Iron Mountain UK plc 3.875%, 11/15/25 (GBP)		100,000		123,443
Iron Mountain, Inc.
3.000%, 01/15/25 (EUR)		110,000		122,536
4.875%, 09/15/27 (144A) (a)		558,000		570,655
4.875%, 09/15/29 (144A)		683,000		693,450
iStar, Inc.
4.625%, 09/15/20		78,000		78,878
5.250%, 09/15/22		162,000		165,442
6.000%, 04/01/22		140,000		144,144
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. 5.250%, 10/01/25 (144A)		672,000		687,120
MGM Growth Properties Operating Partnership L.P. / MGP Finance Co-Issuer, Inc.
4.500%, 09/01/26		1,286,000		1,363,160
4.500%, 01/15/28		1,753,000		1,818,737
5.625%, 05/01/24		170,000		186,362
5.750%, 02/01/27 (144A)		1,076,000		1,208,133
MPT Operating Partnership L.P. / MPT Finance Corp.
4.625%, 08/01/29		1,177,000		1,212,310
5.000%, 10/15/27		2,118,000		2,218,605
Ryman Hospitality Properties, Inc. 4.750%, 10/15/27 (144A) (a)		1,030,000		1,059,654
SBA Communications Corp. 4.875%, 09/01/24		3,284,000		3,398,940
Service Properties Trust
4.350%, 10/01/24		388,000		392,838
4.750%, 10/01/26		388,000		389,997
VICI Properties 1 LLC / VICI FC, Inc. 8.000%, 10/15/23		280,114		306,249
				19,289,390
Retail—2.8%
1011778 BC ULC / New Red Finance, Inc. 3.875%, 01/15/28 (144A)		931,000		936,921
4.250%, 05/15/24 (144A)		58,000		59,665
5.000%, 10/15/25 (144A)		3,210,000		3,315,930
Asbury Automotive Group, Inc. 6.000%, 12/15/24		646,000		668,610
B&M European Value Retail S.A. 4.125%, 02/01/22 (GBP)		100,000		124,638
Retail—(Continued)
Beacon Roofing Supply, Inc.
4.500%, 11/15/26 (144A)		188,000		189,410
4.875%, 11/01/25 (144A)		38,000		37,288
eG Global Finance plc
3.625%, 02/07/24 (EUR)		100,000		105,725
4.375%, 02/07/25 (EUR)		111,000		117,355
6.750%, 02/07/25 (144A)		860,000		839,575
Golden Nugget, Inc. 6.750%, 10/15/24 (144A)		3,057,000		3,133,425
Group 1 Automotive, Inc. 5.250%, 12/15/23 (144A)		101,000		103,778
Hipercor S.A. 3.875%, 01/19/22 (EUR)		100,000		116,651
IRB Holding Corp. 6.750%, 02/15/26 (144A)		119,000		119,595
KFC Holding Co. / Pizza Hut Holdings LLC / Taco Bell of America LLC 5.250%, 06/01/26 (144A)		890,000		942,065
L Brands, Inc.
6.750%, 07/01/36		153,000		129,798
6.875%, 11/01/35 (a)		822,000		713,907
Murphy Oil USA, Inc. 4.750%, 09/15/29		351,000		358,897
Penske Automotive Group, Inc. 5.500%, 05/15/26		231,000		241,591
PetSmart, Inc.
5.875%, 06/01/25 (144A)		2,049,000		2,038,755
7.125%, 03/15/23 (144A)		357,000		335,580
SRS Distribution, Inc. 8.250%, 07/01/26 (144A)		471,000		480,420
Staples, Inc.
7.500%, 04/15/26 (144A)		2,690,000		2,771,507
10.750%, 04/15/27 (144A) (a)		538,000		552,795
Stonegate Pub Co. Financing plc
4.875%, 03/15/22 (GBP)		175,000		220,249
7.031%, 3M GBP LIBOR + 6.250%, 03/15/22 (GBP) (b)		100,000		122,954
Superior Plus L.P. / Superior General Partner, Inc. 7.000%, 07/15/26 (144A)		570,000		601,361
Tendam Brands S.A.U. 5.000%, 09/15/24 (EUR)		104,000		115,773
Yum! Brands, Inc.
4.750%, 01/15/30 (144A)		840,000		866,250
5.350%, 11/01/43		14,000		13,440
				20,373,908
Semiconductors—0.2%
Entegris, Inc. 4.625%, 02/10/26 (144A)		434,000		449,190
Infineon Technologies AG 2.875%, 5Y EUR Swap + 3.388%, 01/01/25 (EUR) (b)		100,000		108,450
Qorvo, Inc. 5.500%, 07/15/26		738,000		779,513
				1,337,153

BHFTI-68

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Software—4.7%
ACI Worldwide, Inc. 5.750%, 08/15/26 (144A)		1,529,000	$	1,620,740
Ascend Learning LLC
6.875%, 08/01/25 (144A)		1,899,000		1,971,450
CDK Global, Inc.
4.875%, 06/01/27		1,447,000		1,506,616
5.250%, 05/15/29 (144A)		299,000		309,465
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. 5.750%, 03/01/25 (144A)		1,522,000		1,544,830
Dun & Bradstreet Corp. (The)
6.875%, 08/15/26 (144A)		1,472,000		1,604,480
10.250%, 02/15/27 (144A)		1,060,000		1,172,625
Genesys Telecommunications Laboratories, Inc. / Greeneden Lux 3 S.a.r.l. / Greeneden U.S. Holdings II LLC 10.000%, 11/30/24 (144A)		2,380,000		2,572,923
Infor U.S., Inc. 6.500%, 05/15/22		5,014,000		5,095,477
Informatica LLC 7.125%, 07/15/23 (144A)		1,634,000		1,662,595
InterXion Holding NV 4.750%, 06/15/25 (EUR)		100,000		118,123
IQVIA, Inc.
3.250%, 03/15/25 (144A) (EUR)		150,000		167,580
3.250%, 03/15/25 (EUR)		425,000		474,810
3.500%, 10/15/24 (EUR)		100,000		110,900
5.000%, 10/15/26 (144A)		299,000		313,203
5.000%, 05/15/27 (144A)		1,142,000		1,196,245
MSCI, Inc. 4.750%, 08/01/26 (144A)		89,000		93,228
Nuance Communications, Inc.
5.625%, 12/15/26		609,000		644,018
6.000%, 07/01/24		252,000		263,340
PTC, Inc. 6.000%, 05/15/24		22,000		23,045
Rackspace Hosting, Inc. 8.625%, 11/15/24 (144A) (a)		350,000		321,965
RP Crown Parent LLC 7.375%, 10/15/24 (144A)		1,256,000		1,306,240
Solera LLC / Solera Finance, Inc. 10.500%, 03/01/24 (144A)		2,954,000		3,122,732
Sophia L.P. / Sophia Finance, Inc. 9.000%, 09/30/23 (144A)		630,000		644,962
SS&C Technologies, Inc. 5.500%, 09/30/27 (144A)		3,515,000		3,673,263
TIBCO Software, Inc. 11.375%, 12/01/21 (144A) (a)		1,631,000		1,701,847
Veritas U.S., Inc. / Veritas Bermuda, Ltd. 7.500%, 02/01/23 (144A)		478,000		472,476
				33,709,178
Storage/Warehousing—0.2%
Mobile Mini, Inc. 5.875%, 07/01/24		1,350,000		1,390,500
Telecommunications—7.5%
Altice France S.A.
2.500%, 01/15/25 (EUR)		100,000		110,630
3.375%, 01/15/28 (EUR)		100,000		110,755
5.500%, 01/15/28 (144A)		2,110,000		2,133,738
5.875%, 02/01/27 (EUR)		200,000		241,116
6.250%, 05/15/24 (144A)		292,000		301,344
7.375%, 05/01/26 (144A)		3,566,000		3,827,958
8.125%, 02/01/27 (144A)		2,130,000		2,350,988
CenturyLink, Inc.
5.625%, 04/01/25 (a)		775,000		804,063
6.750%, 12/01/23 (a)		1,327,000		1,453,065
7.500%, 04/01/24 (a)		884,000		988,621
7.600%, 09/15/39		308,000		300,300
7.650%, 03/15/42 (a)		308,000		299,530
Cincinnati Bell, Inc.
7.000%, 07/15/24 (144A) (a)		820,000		758,500
8.000%, 10/15/25 (144A)		316,000		278,238
CommScope. Inc.
5.500%, 03/01/24 (144A)		1,725,000		1,774,594
6.000%, 03/01/26 (144A)		1,027,000		1,062,740
Connect Finco SARL / Connect U.S. Finco LLC 6.750%, 10/01/26 (144A)		3,149,000		3,208,044
Digicel International Finance, Ltd. / Digicel Holdings Bermuda, Ltd. 8.750%, 05/25/24 (144A)		778,000		739,100
DKT Finance A.p.S. 7.000%, 06/17/23 (EUR)		100,000		116,606
eircom Finance DAC 3.500%, 05/15/26 (EUR)		100,000		116,255
Embarq Corp.
7.995%, 06/01/36		953,000		941,983
Frontier Communications Corp. 8.000%, 04/01/27 (144A)		3,873,000		4,084,814
Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc. 9.875%, 05/01/24 (144A)		630,000		674,100
Hughes Satellite Systems Corp. 5.250%, 08/01/26		392,000		419,440
Intelsat Jackson Holdings S.A.
5.500%, 08/01/23		1,674,000		1,561,675
8.500%, 10/15/24 (144A) (a)		1,668,000		1,679,993
9.750%, 07/15/25 (144A)		1,920,000		2,005,440
Level 3 Financing, Inc.
4.625%, 09/15/27 (144A)		469,000		473,245
5.250%, 03/15/26		741,000		770,529
5.375%, 05/01/25		70,000		72,538
Nokia Oyj 6.625%, 05/15/39 (a)		1,288,000		1,513,400
Qualitytech L.P. / QTS Finance Corp. 4.750%, 11/15/25 (144A)		383,000		394,490
Sable International Finance, Ltd. 5.750%, 09/07/27 (144A)		300,000		310,035
SES S.A. 4.625%, 5Y EUR Swap + 4.664%, 01/02/22 (EUR) (b)		100,000		115,592
SoftBank Group Corp.
4.000%, 04/20/23 (EUR)		194,000		226,093
4.500%, 04/20/25 (EUR)		200,000		239,149

BHFTI-69

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
SoftBank Group Corp.
4.750%, 07/30/25 (EUR)		100,000	$	120,411
5.000%, 04/15/28 (EUR)		100,000		120,894
Sprint Capital Corp.
6.875%, 11/15/28		1,334,000		1,454,327
8.750%, 03/15/32		1,098,000		1,354,328
Sprint Corp.
7.125%, 06/15/24		504,000		543,211
7.625%, 02/15/25		666,000		732,600
7.625%, 03/01/26		2,179,000		2,405,071
7.875%, 09/15/23 (a)		1,022,000		1,122,626
T-Mobile USA, Inc.
4.500%, 02/01/26		1,074,000		1,105,468
4.750%, 02/01/28		1,046,000		1,094,639
6.500%, 01/15/26		495,000		532,219
TDC A/S 6.875%, 02/23/23 (GBP)		100,000		140,023
Telecom Italia Capital S.A.
6.000%, 09/30/34		836,000		890,340
6.375%, 11/15/33		341,000		375,100
7.200%, 07/18/36		42,000		48,931
7.721%, 06/04/38		134,000		162,140
Telecom Italia S.p.A.
2.750%, 04/15/25 (EUR)		170,000		193,492
4.000%, 04/11/24 (EUR)		100,000		119,976
5.303%, 05/30/24 (144A)		1,050,000		1,132,373
5.875%, 05/19/23 (GBP)		50,000		67,968
Telefonica Europe B.V.
2.625%, 5Y EUR Swap + 2.327%, 03/07/23 (EUR) (b)		100,000		110,914
2.875%, 8Y EUR Swap + 3.071%, 06/24/27 (EUR) (b)		100,000		109,781
3.750%, 5Y EUR Swap + 3.858%, 03/15/22 (EUR) (b)		100,000		115,153
4.375%, 6Y EUR Swap + 4.107%, 12/14/24 (EUR) (b)		200,000		239,674
5.875%, 10Y EUR Swap + 4.301%, 03/31/24 (EUR) (b)		100,000		126,098
Telesat Canada / Telesat LLC
6.500%, 10/15/27 (144A)		317,000		322,548
8.875%, 11/15/24 (144A)		278,000		297,821
ViaSat, Inc. 5.625%, 04/15/27 (144A)		1,398,000		1,467,900
Vodafone Group Plc 3.100%, 5Y EUR Swap + 2.669%, 01/03/79 (EUR)		100,000		115,317
Xplornet Communications, Inc. 9.625%, 10.625% PIK, 06/01/22 (144A) (c)		295,928		301,107
				53,381,151
Toys/Games/Hobbies—0.2%
Mattel, Inc. 6.750%, 12/31/25 (144A)		1,528,000		1,594,376
Transportation—0.0%
XPO Logistics, Inc. 6.750%, 08/15/24 (144A)		41,000		44,383
Trucking & Leasing—0.0%
Fortress Transportation & Infrastructure Investors LLC
6.500%, 10/01/25 (144A)		170,000		174,675
Trucking & Leasing—(Continued)
Fortress Transportation & Infrastructure Investors LLC
6.750%, 03/15/22 (144A)		159,000		166,155
				340,830
Total Corporate Bonds & Notes (Cost $605,236,257)				621,052,121
Floating Rate Loans (i)—8.6%
Aerospace/Defense—0.1%
Atlantic Aviation FBO Inc. Term Loan B, 5.800%, 1M LIBOR + 3.750%, 12/06/25		116,123		117,136
Sequa Mezzanine Holdings LLC 1st Lien Term Loan, 7.187%, 3M LIBOR + 5.000%, 11/28/21		398,820		395,663
Severin Acquisition LLC Term Loan B, 5.459%, 3M LIBOR + 3.250%, 08/01/25		206,440		203,601
				716,400
Airlines—0.1%
WestJet Airlines, Ltd. Term Loan B, 08/06/26 (e)		640,000		645,543
Auto Parts & Equipment—0.1%
Panther BF Aggregator 2 L.P. Term Loan B, 5.544%, 1M LIBOR + 3.500%, 04/30/26		716,141		712,262
Building Materials—0.0%
Advanced Drainage Systems, Inc. Term Loan B, 07/31/26 (e)		55,000		55,309
CPG International, Inc. Term Loan, 3M LIBOR + 3.750%, 05/05/24		87,598		87,489
				142,798
Chemicals—0.3%
Alpha 3 B.V. Term Loan B1, 5.104%, 3M LIBOR + 3.000%, 01/31/24		1,211,210		1,197,887
Ascend Performance Materials Operations LLC
Term Loan B, 08/27/26 (e)		908,000		912,540
Invictus U.S. LLC 2nd Lien Term Loan, 8.896%, 3M LIBOR + 6.750%, 03/30/26		113,750		107,209
Momentive Performance Materials, Inc. Term Loan B, 5.300%, 1M LIBOR + 3.250%,, 05/15/24		177,271		176,329
				2,393,965
Coal—0.1%
CONSOL Energy, Inc. 1st Lien Term Loan B, 6.550%, 1M LIBOR + 4.500%, 09/27/24		447,750		441,034
Commercial Services—1.2%
Albany Molecular Research, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 08/30/24		188,747		185,916

BHFTI-70

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (i)—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
BidFair MergerRight Inc Term Loan B, 01/23/27 (e)		309,000	$	306,296
Dun & Bradstreet Corp. (The) Term Loan, 7.054%, 1M LIBOR + 5.000%, 02/06/26		666,000		671,203
Financial & Risk U.S. Holdings, Inc. Term Loan, 5.794%, 1M LIBOR + 3.750%, 10/01/25		3,950,762		3,976,999
Jaguar Holding Co. II Term Loan, 4.544%, 1M LIBOR + 2.500%,, 08/18/22		157,589		157,923
KAR Auction Services, Inc. Term Loan B6, 1M LIBOR + 2.250%, 09/13/26		121,926		122,879
Verscend Holding Corp. Term Loan B, 6.544%, 1M LIBOR + 4.500%, 08/27/25		2,924,063		2,938,075
				8,359,291
Computers—0.0%
TierPoint LLC 1st Lien Term Loan, 5.794%, 1M LIBOR + 3.750%,, 05/06/24		321,073		299,240
Diversified Financial Services—0.1%
Jefferies Finance LLC 2019 Term Loan, 5.875%, 1M LIBOR + 3.750%,, 06/03/26		422,940		423,469
Electric—0.0%
Calpine Corp. Term Loan B10, 4.544%, 1M LIBOR + 2.500%,, 08/12/26		175,456		176,114
Electrical Components & Equipment—0.2%
Cortes NP Acquisition Corp. Term Loan B, 6.044%, 3M LIBOR + 4.000%, 11/30/23		1,689,772		1,612,153
Entertainment—0.2%
NASCAR Holdings, Inc. Term Loan B, 07/27/26 (e)		408,000		411,410
Stars Group Holdings B.V. (The) Incremental Term Loan, 5.604%, 3M LIBOR + 3.500%, 07/10/25		1,058,439		1,063,976
				1,475,386
Environmental Control—0.1%
GFL Environmental Inc. Term Loan B, 5.044%, 1M LIBOR + 3.000%, 05/30/25		645,882		641,038
Food—0.0%
U.S. Foods, Inc. Term Loan B, 1M LIBOR + 2.000%, 09/13/26		321,000		322,680
Healthcare-Products—0.6%
Athenahealth, Inc. Term Loan B, 6.681%, 3M LIBOR + 4.500%, 02/11/26		1,713,737		1,706,954
Immucor, Inc. Extended Term Loan B, 7.104%, 3M LIBOR + 5.000%, 06/15/21		1,700,879		1,704,068
Healthcare-Products—(Continued)
Sotera Health Holdings LLC Term Loan, 5.044%, 1M LIBOR + 3.000%, 05/15/22		1,510,574		1,494,997
				4,906,019
Healthcare-Services—0.4%
AHP Health Partners, Inc. 2018 Term Loan, 6.544%, 1M LIBOR + 4.500%, 06/30/25		321,925		323,233
Envision Healthcare Corp. 1st Lien Term Loan, 5.794%, 1M LIBOR + 3.750%, 10/10/25		2,079,759		1,701,935
Gentiva Health Services, Inc. 1st Lien Term Loan, 5.813%, 1M LIBOR + 3.750%, 07/02/25		514,163		517,691
Quorum Health Corp. Term Loan B, 9.006%, 1M LIBOR + 6.750%, 04/29/22		407,940		402,501
				2,945,360
Household Products/Wares—0.1%
Diamond (BC) B.V. Term Loan, 5.256%, 1M LIBOR + 3.000%,, 09/06/24		459,830		439,425
Insurance—0.3%
Alliant Holdings Intermediate, LLC Term Loan B, 5.054%, 1M LIBOR + 3.000%, 05/09/25		3,404		3,349
Asurion LLC 2nd Lien Term Loan, 8.544%, 1M LIBOR + 6.500%, 08/04/25		977,000		993,690
Sedgwick Claims Management Services, Inc.
Term Loan B, 5.294%, 1M LIBOR + 3.250%, 12/31/25		858,194		845,965
Term Loan B, 6.044%, 1M LIBOR + 4.000%, 09/03/26		514,710		515,782
				2,358,786
Internet—0.2%
Ascend Learning LLC Term Loan B, 5.044%, 1M LIBOR + 3.000%, 07/12/24		141,120		140,789
Tibco Software, Inc. Term Loan B, 6.070%, 1M LIBOR + 4.000%,, 06/30/26		434,000		435,218
Uber Technologies Term Loan, 6.028%, 1M LIBOR + 4.000%, 04/04/25		984,538		981,153
				1,557,160
Internet Software & Services—0.1%
Flexential Intermediate Corp. Term Loan, 9.382%, 3M LIBOR + 7.250%,, 08/01/25		148,000		108,410
Travelport Finance (Luxembourg) S.a.r.l. 2019 Term Loan, 7.104%, 3M LIBOR + 5.000%,, 05/29/26		780,925		708,933
				817,343
Machinery-Diversified—0.2%
Titan Acquisition, Ltd. Term Loan B, 5.044%, 1M LIBOR + 3.000%,, 03/28/25		1,665,853		1,599,219
Media—0.9%
Altice France S.A. Term Loan B13, 6.028%, 1M LIBOR + 4.000%,, 08/14/26		425,952		425,329

BHFTI-71

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (i)—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Clear Channel Outdoor Holdings, Inc. Term Loan B, 5.544%, 1M LIBOR + 3.500%, 08/21/26		1,812,000	$	1,819,766
Ligado Networks LLC
2nd Lien Term Loan, 14.602%, 1M LIBOR + 1.250%, 12/07/20		1,703,106		632,278
PIK Term Loan, 10.852%, 3M LIBOR + 8.750%, 12/07/20		4,309,715		3,430,534
				6,307,907
Office/Business Equipment—0.5%
Brand Energy & Infrastructure Services, Inc. Term Loan, 6.509%, 3M LIBOR + 4.250%, 06/21/24		3,596,428		3,520,004
Oil & Gas—0.2%
BCP Raptor II LLC 1st Lien Term Loan, 6.794%, 1M LIBOR + 4.750%, 11/03/25		162,820		147,352
California Resources Corp. Term Loan, 12.419%, 1M LIBOR + 10.375%, 12/31/21		1,082,070		952,673
				1,100,025
Oil & Gas Services—0.5%
McDermott Technology Americas, Inc. 1st Lien Term Loan, 7.104%, 1M LIBOR + 5.000%, 05/09/25		2,535,864		1,621,543
Pioneer Energy Services Corp. Term Loan, 9.804%, 1M LIBOR + 7.750%, 11/08/22		1,679,000		1,595,050
				3,216,593
Packaging & Containers—0.1%
BWAY Holding Co. Term Loan B, 5.590%, 3M LIBOR + 3.250%, 04/03/24		354,188		347,474
Charter NEX U.S., Inc. Incremental Term Loan, 5.554%, 1M LIBOR + 3.500%,, 05/16/24		180,548		180,961
				528,435
Pharmaceuticals—0.1%
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.296%, 1M LIBOR + 4.250%, 04/29/24		507,842		463,152
Pipelines—0.0%
AL Midcoast Holdings, LLC Term Loan B, 7.604%, 3M LIBOR + 5.500%, 07/31/25		100,980		99,591
Retail—0.2%
Neiman Marcus Group, Ltd. LLC Extended Term Loan, 8.057%, 3M LIBOR + 6.000%, 10/25/23		534,793		412,459
SRS Distribution, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 05/23/25		665,124		648,828
				1,061,287
Semiconductors—0.0%
ON Semiconductor Corp. Term Loan B, 09/06/26 (e)		246,458		247,725
Shipbuilding—0.1%
MHI Holdings LLC Term Loan B, 09/18/26 (e)		466,000		466,582
Software—0.6%
Cypress Intermediate Holdings III, Inc. 2nd Lien Term Loan, 8.794%, 1M LIBOR + 6.750%, 04/27/25		81,000		81,844
DigiCert Holdings, Inc. Term Loan B, 08/13/26 (e)		458,000		457,332
Emerald TopCo., Inc. Term Loan, 5.544%, 1M LIBOR + 3.500%,, 07/24/26		768,000		766,320
Infor (U.S.), Inc. Term Loan B6, 4.854%, 3M LIBOR + 2.750%, 02/01/22		296,845		297,550
Kronos, Inc. 2nd Lien Term Loan, 10.503%, 3M LIBOR + 8.250%, 11/01/24		1,310,000		1,334,562
Mitchell International, Inc.
1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 11/29/24		328,654		315,508
2nd Lien Term Loan, 9.294%, 1M LIBOR + 7.250%, 12/01/25		214,667		198,567
Renaissance Holding Corp. 1st Lien Term Loan, 5.294%, 3M LIBOR + 3.250%,, 05/30/25		138,528		136,335
SS&C Technologies Holdings Europe S.a.r.l. Term Loan B4, 4.294%, 1M LIBOR + 2.250%,, 04/16/25		240,093		241,393
SS&C Technologies, Inc. Term Loan B3, 4.294%, 1M LIBOR + 2.250%,, 04/16/25		393,443		395,574
Ultimate Software Group, Inc. (The) Term Loan B, 5.794%, 1M LIBOR + 3.750%,, 05/04/26		189,536		190,744
Veritas Bermuda, Ltd. Term Loan B, 6.544%, 1M LIBOR + 4.500%,, 01/27/23		184,674		174,902
				4,590,631
Telecommunications—1.0%
CenturyLink, Inc. Term Loan B, 4.794%, 1M LIBOR + 2.750%,, 01/31/25		1,163,905		1,157,479
Inmarsat Finance plc Term Loan B, 09/23/26 (e)		1,319,000		1,300,554
Intelsat Jackson Holdings S.A.
Term Loan B3, 5.804%, 1M LIBOR + 3.750%, 11/27/23		205,800		206,417
Term Loan B4, 6.554%, 1M LIBOR + 4.500%, 01/02/24		510,588		518,726
Term Loan B5, 6.625%, 1M LIBOR + 6.625%, 01/02/24		3,399,612		3,467,604
Xplornet Communications, Inc. Term Loan B, 6.104%, 3M LIBOR + 4.000%, 09/09/21		414,299		414,299
				7,065,079
Total Floating Rate Loans (Cost $64,883,840)				61,651,696
Asset-Backed Securities—1.0%
Asset-Backed - Other—1.0%
AIMCO CLO 4.728%, 3M LIBOR + 2.450%, 07/20/29 (144A) (b)		250,000		249,998

BHFTI-72

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Shares/ Principal Amount*		Value
Asset-Backed - Other—(Continued)
Allegro CLO, Ltd.
4.428%, 3M LIBOR + 2.150%, 10/21/28 (144A) (b)		250,000	$	249,862
Allegro VIII, Ltd. 4.453%, 3M LIBOR + 2.150%, 07/15/31 (144A) (b)		250,000		242,496
ALM, Ltd. 4.503%, 3M LIBOR + 2.200%, 10/15/27 (144A) (b)		250,000		246,048
Anchorage Capital CLO, Ltd. 5.256%, 3M LIBOR + 3.000%, 07/28/28 (144A) (b)		1,000,000		986,526
Apidos CLO 4.128%, 3M LIBOR + 1.850%, 04/20/31 (144A) (b)		500,000		476,853
Atlas Senior Loan Fund X, Ltd. 3.803%, 3M LIBOR + 1.500%, 01/15/31 (144A) (b)		250,000		243,316
Atrium XIV LLC 4.272%, 3M LIBOR + 1.950%, 08/23/30 (144A) (b)		266,000		258,090
Carlyle Global Market Strategies CLO, Ltd.
3.856%, 3M LIBOR + 1.600%, 07/28/28 (144A) (b)		250,000		249,995
4.128%, 3M LIBOR + 1.850%, 04/20/27 (144A) (b)		250,000		246,981
Carlyle U.S. CLO, Ltd.
4.378%, 3M LIBOR + 2.100%, 10/20/27 (144A) (b)		250,000		245,532
4.678%, 3M LIBOR + 2.400%, 07/20/31 (144A) (b)		250,000		249,494
CBAM, Ltd. 4.703%, 3M LIBOR + 2.400%, 10/17/29 (144A) (b)		250,000		246,680
CIFC Funding, Ltd. 4.503%, 3M LIBOR + 2.200%, 10/17/30 (144A) (b)		250,000		248,569
Madison Park Funding, Ltd. 3.959%, 3M LIBOR + 1.700%, 01/23/31 (144A) (b)		250,000		247,339
Neuberger Berman CLO, Ltd. 4.453%, 3M LIBOR + 2.150%, 10/17/27 (144A) (b)		250,000		247,150
Oak Hill Credit Partners Ltd 4.478%, 3M LIBOR + 2.200%, 12/12/30 (144A) (b)		254,000		250,574
Palmer Square CLO, Ltd. 4.402%, 3M LIBOR + 2.250%, 05/21/29 (144A) (b)		250,000		248,842
Regatta VII Funding, Ltd. 4.906%, 3M LIBOR + 2.750%, 12/20/28 (144A) (b)		250,000		240,238
Rockford Tower CLO, Ltd.
4.078%, 3M LIBOR + 1.800%, 10/20/31 (144A) (b)		250,000		248,670
5.367%, 3M LIBOR + 2.750%, 04/20/32 (144A) (b)		334,000		333,307
5.378%, 3M LIBOR + 3.100%, 10/20/31 (144A) (b)		250,000		239,746
6.467%, 3M LIBOR + 3.850%, 04/20/32 (144A) (b)		278,000		276,510
TIAA CLO, Ltd. 3.978%, 3M LIBOR + 1.700%, 01/20/32 (144A) (b)		250,000		245,626
Total Asset-Backed Securities (Cost $7,123,884)				7,018,442
Common Stocks—0.8%
Chemicals—0.2%
Element Solutions, Inc. (j)		202,323		2,059,648
Containers & Packaging—0.1%
Crown Holdings, Inc. (j)		7,232		477,746
Equity Real Estate Investment Trusts—0.1%
Gaming and Leisure Properties, Inc.		19,300		738,032
Hotels, Restaurants & Leisure—0.1%
Stars Group, Inc. (The) (j)		55,136		825,261
Media—0.1%
Clear Channel Outdoor Holdings, Inc. (j)		202,217		509,587
Metals & Mining—0.2%
Constellium SE - Class A (j)		113,844		1,446,957
Total Common Stocks (Cost $6,471,247)				6,057,231
Preferred Stocks—0.6%
Banks—0.5%
GMAC Capital Trust, 7.943%, 3M LIBOR + 5.785%, 02/15/40 (b)		143,228		3,754,006
Media—0.1%
NBCUniversal Enterprise, Inc. , 5.250%, 12/31/49(144A)		255,000		262,650
Total Preferred Stocks (Cost $4,035,664)				4,016,656
Mutual Fund—0.1%
Investment Company Security—0.1%
SPDR S&P Oil & Gas Exploration & Production ETF (Cost $722,323)		27,891		623,643
Convertible Bonds—0.0%
Oil & Gas—0.0%
PDC Energy, Inc. 1.125%, 09/15/21		20,000		18,432
Telecommunications—0.0%
Telecom Italia S.p.A. 1.125%, 03/26/22 (EUR)		100,000		109,487
Total Convertible Bonds (Cost $131,103)				127,919
Escrow Shares—0.0%
Auto Parts & Equipment—0.0%
Lear Corp. (d) (f) (g)		1,395,000		0
Lear Corp. (d) (f) (g)		1,530,000		0
				0

BHFTI-73

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Escrow Shares—(Continued)

Security Description	Shares/ Principal Amount*		Value
Diversified Financial Services—0.0%
Lehman Brothers Holdings, Inc. (d)		489,000	$	6,797
Lehman Brothers Holdings, Inc. (d)		1,740,000		24,186
				30,983
Total Escrow Shares (Cost $0)				30,983
Short-Term Investment—1.9%
Repurchase Agreement—1.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $13,760,807; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $14,035,766.		13,760,501		13,760,501
Total Short-Term Investments (Cost $13,760,501)				13,760,501
Securities Lending Reinvestments (k)—3.3%
Certificates of Deposit—0.4%
Canadian Imperial Bank of Commerce 2.180%, FEDEFF PRV + 0.350%, 08/06/20 (b)		1,000,000		1,000,005
Svenska Handelsbanken AB 2.429%, 1M LIBOR + 0.380%, 12/10/19 (b)		1,000,000		1,000,402
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (b)		500,000		500,116
				2,500,523
Commercial Paper—0.1%
Bank of China, Ltd. 2.290%, 12/09/19		497,138		497,724
Repurchase Agreements—2.8%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $2,000,107; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,816,243; collateralized by various Common Stock with an aggregate market value of $3,080,000.		2,800,000		2,800,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $2,012,420; collateralized by various Common Stock with an aggregate market value of $2,200,226.		2,000,000		2,000,000
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $800,053; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $816,000.		800,000		800,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $800,053; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $816,000.		800,000		800,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $1,417,993; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $1,446,253.		1,417,895		1,417,895
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $2,000,127; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $2,000,111; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $2,226,004.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $700,275; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $777,985.		700,000		700,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $1,500,589; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $1,667,111.		1,500,000		1,500,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,000,389; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $500,194; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $555,531.		500,000		500,000

BHFTI-74

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (k)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,601,011; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,888,761.		2,600,000	$	2,600,000
				20,117,895
Total Securities Lending Reinvestments (Cost $23,115,700)				23,116,142
Total Purchased Options—0.0% (l) (Cost $2,224)				1,127
Total Investments—103.1% (Cost $725,482,743)				737,456,461
Other assets and liabilities (net)—(3.1)%				(22,249,084	)
Net Assets—100.0%			$	715,207,377

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $21,550,238 and the collateral received consisted of cash in the amount of $23,115,033. 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 September 30, 2019. 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)	This loan will settle after September 30, 2019, at which time the interest rate will be determined.
(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 September 30, 2019, these securities represent less than 0.05% of net assets.
(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 September 30, 2019, the market value of restricted securities was $405,398, which is 0.1% of net assets. See details shown in the Restricted Securities table that follows.
(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 generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(j)	Non-income producing security.
(k)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(l)	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 September 30, 2019, the market value of 144A securities was $435,185,610, which is 60.8% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
NVA Holdings, Inc., 6.875%, 04/01/26		03/14/18	$	382,000	$	378,838	$	405,398
Waterford Gaming LLC / Waterford Gaming Financial Corp., 8.625%, 09/15/49		09/24/07		294,455		294,455		0
							$	405,398

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	13,000	BNP		10/03/19		USD	14,237	$	66
EUR	301,800	CSI		10/03/19		USD	330,095		1,123
EUR	15,310,000	NWM		10/03/19		USD	16,874,590		186,182
EUR	186,900	NAB		10/03/19		USD	204,422		695
GBP	2,166,000	SCB		10/03/19		USD	2,645,204		(18,111	)
Net Unrealized Appreciation								$	169,955

BHFTI-75

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro STOXX 50 Index Futures		12/20/19		1			EUR	35,550		$	565
STOXX Europe 600 Bank Index Futures		12/20/19		2			EUR	13,110			47
Futures Contracts—Short
Euro-Bobl 5 Year Futures		12/06/19		(1	)		EUR	(135,650	)		991
United Kingdom Long Gilt Bond Futures		12/27/19		(1	)		GBP	(134,240	)		(997	)
Net Unrealized Appreciation										$	606

Purchased Options

Options on Exchange-Traded Futures	Strike Price		Expiration Date		Number of Contracts		Notional Amount		Premiums Paid		Market Value		Unrealized Depreciation
Call - Euro STOXX 50 Index Futures		EUR 3,800.000		12/20/19		11		EUR 110	$	2,224	$	1,127	$	(1,097	)

Swap Agreements

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 September 30, 2019(b)		Notional Amount(c)			Market Value			Upfront Premium Received		Unrealized Appreciation
UPC Holding BV 5.500%, due 01/15/28		(5.000%)		Quarterly		06/20/24	JPMC		0.738%		EUR	60,000	$	(12,842	)	$	(13,412)	$	570

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 September 30, 2019(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		06/20/23	CBNA		6.269	%		EUR	70,000	$	(12,645	)	$	(10,383	)	$	(2,262	)
Casino Guichard Perrachon S.A. 4.407%, due 08/06/19		1.000	%		Quarterly		06/20/23	BBP		6.269	%		EUR	10,000		(1,806	)		(1,001	)		(805	)
Casino Guichard Perrachon S.A. 4.407%, due 08/06/19		1.000	%		Quarterly		06/20/23	JPMC		6.269	%		EUR	30,000		(5,419	)		(3,082	)		(2,337	)
Casino Guichard Perrachon S.A. 1.865%, due 06/13/22		5.000	%		Quarterly		06/20/24	CSI		6.499	%		EUR	18,769		(1,158	)		(1,535	)		377
Casino Guichard Perrachon S.A. 1.865%, due 06/13/22		5.000	%		Quarterly		06/20/24	CSI		6.499	%		EUR	21,231		(1,310	)		(1,505	)		195
Century Link, Inc. 6.150%, due 09/15/19		1.000	%		Quarterly		12/20/23	BBP		1.819	%		USD	348,000		(11,054	)		(22,575	)		11,521
Century Link, Inc. 6.150%, due 09/15/19		1.000	%		Quarterly		06/20/25	BBP		2.904	%		USD	225,000		(20,748	)		(41,969	)		21,221
Chesapeake Energy Corp. 6.625%, due 08/15/20		5.000	%		Quarterly		12/20/23	BBP		13.511	%		USD	174,000		(39,493	)		282			(39,775	)
Chesapeake Energy Corp. 6.625%, due 08/15/20		5.000	%		Quarterly		12/20/23	BBP		13.511	%		USD	216,000		(49,026	)		1,762			(50,788	)
Garfunkelux Holdco 2 S.A. 11.000%, due 11/01/23		5.000	%		Quarterly		06/20/24	CSI		4.694	%		EUR	60,000		713			(5,236	)		5,949
Garfunkelux Holdco 2 S.A. 11.000%, due 11/01/23		(5.000	%)		Quarterly		12/20/24	CSI		4.834	%		EUR	20,000		138			(281	)		419

BHFTI-76

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Telecom Italia SpA 3.625%, due 01/19/24		1.000	%		Quarterly		06/20/24	CBNA		1.522	%		EUR	10,142	$	(263	)	$	(337	)	$	74
Telecom Italia SpA 3.625%, due 01/19/24		1.000	%		Quarterly		06/20/24	CBNA		1.522	%		EUR	15,233		(395	)		(521	)		126
Telecom Italia SpA 3.625%, due 01/19/24		1.000	%		Quarterly		06/20/26	CBNA		2.245	%		EUR	20,395		(1,689	)		(2,927	)		1,238
Tesco plc 6.125%, due 02/24/22		1.000	%		Quarterly		12/20/23	BBP		0.870	%		EUR	100,000		594			190			404
Tesco plc 6.125%, due 02/24/22		1.000	%		Quarterly		12/20/25	BBP		1.423	%		EUR	100,000		(2,741	)		(2,652	)		(89	)
Virgin Media Finance plc 6.000%, due 10/15/24		5.000	%		Quarterly		12/20/26	CSI		1.785	%		EUR	40,000		9,364			10,124			(760	)
Totals															$	(136,938	)	$	(81,646	)	$	(55,292	)

Cash in the amount of $60,000 has been received at the custodian bank as collateral for OTC swap contracts.
(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
(JPMC)—	JPMorgan Chase Bank N.A.
(NAB)—	National Australia Bank Ltd.
(NWM)—	NatWest Markets plc
(SCB)—	Standard Chartered Bank

Currencies

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

Index Abbreviations

(EURIBOR)—	Euro InterBank Offered Rate
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(CLO)—	Collateralized Loan Obligation
(ETF)—	Exchange-Traded Fund
(REIT)—	Real Estate Investment Trust

BHFTI-77

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Corporate Bonds & Notes
Advertising	$	—	$	1,652,869	$	—	$	1,652,869
Aerospace/Defense		—		28,203,674		—		28,203,674
Agriculture		—		280,350		—		280,350
Apparel		—		522,160		—		522,160
Auto Manufacturers		—		2,367,077		—		2,367,077
Auto Parts & Equipment		—		7,243,076		—		7,243,076
Banks		—		20,763,313		—		20,763,313
Building Materials		—		4,492,878		—		4,492,878
Chemicals		—		13,882,932		—		13,882,932
Coal		—		1,103,235		—		1,103,235
Commercial Services		—		25,340,239		—		25,340,239
Computers		—		9,633,210		—		9,633,210
Cosmetics/Personal Care		—		343,760		—		343,760
Distribution/Wholesale		—		9,946,671		—		9,946,671
Diversified Financial Services		—		20,754,708		—		20,754,708
Electric		—		16,967,190		—		16,967,190
Electrical Components & Equipment		—		1,071,764		—		1,071,764
Electronics		—		3,903,523		—		3,903,523
Energy-Alternate Sources		—		1,786,326		—		1,786,326
Engineering & Construction		—		2,262,981		—		2,262,981
Entertainment		—		14,258,142		0		14,258,142
Environmental Control		—		5,053,938		—		5,053,938
Food		—		11,800,896		—		11,800,896
Food Service		—		1,987,778		—		1,987,778
Hand/Machine Tools		—		1,877,359		—		1,877,359
Healthcare-Products		—		14,104,758		—		14,104,758
Healthcare-Services		—		37,010,887		—		37,010,887
Home Builders		—		8,649,864		—		8,649,864
Home Furnishings		—		14,595		—		14,595
Household Products/Wares		—		407,140		—		407,140
Insurance		—		8,522,792		—		8,522,792
Internet		—		10,637,171		—		10,637,171
Investment Company		—		2,508,000		—		2,508,000
Iron/Steel		—		1,452,668		—		1,452,668
Leisure Time		—		3,541,931		—		3,541,931
Lodging		—		8,080,520		—		8,080,520
Machinery-Construction & Mining		—		4,016,452		—		4,016,452
Machinery-Diversified		—		5,056,485		—		5,056,485
Media		—		56,934,417		—		56,934,417
Metal Fabricate/Hardware		—		1,262,817		—		1,262,817
Mining		—		16,714,372		—		16,714,372
Miscellaneous Manufacturing		—		1,103,836		—		1,103,836

BHFTI-78

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Office/Business Equipment	$	—		$	1,361,414		$	—	$	1,361,414
Oil & Gas		—			39,360,166			—		39,360,166
Oil & Gas Services		—			2,294,053			—		2,294,053
Packaging & Containers		—			17,904,076			—		17,904,076
Pharmaceuticals		—			17,814,104			—		17,814,104
Pipelines		—			20,377,462			—		20,377,462
Real Estate		—			2,961,223			0		2,961,223
Real Estate Investment Trusts		—			19,289,390			—		19,289,390
Retail		—			20,373,908			—		20,373,908
Semiconductors		—			1,337,153			—		1,337,153
Software		—			33,709,178			—		33,709,178
Storage/Warehousing		—			1,390,500			—		1,390,500
Telecommunications		—			53,381,151			—		53,381,151
Toys/Games/Hobbies		—			1,594,376			—		1,594,376
Transportation		—			44,383			—		44,383
Trucking & Leasing		—			340,830			—		340,830
Total Corporate Bonds & Notes		—			621,052,121			0		621,052,121
Total Floating Rate Loans*		—			61,651,696			—		61,651,696
Total Asset-Backed Securities*		—			7,018,442			—		7,018,442
Total Common Stocks*		6,057,231			—			—		6,057,231
Preferred Stocks
Banks		3,754,006			—			—		3,754,006
Media		—			262,650			—		262,650
Total Preferred Stocks		3,754,006			262,650			—		4,016,656
Total Mutual Fund*		623,643			—			—		623,643
Total Convertible Bonds*		—			127,919			—		127,919
Escrow Shares
Auto Parts & Equipment		—			—			0		0
Diversified Financial Services		—			30,983			—		30,983
Total Escrow Shares		—			30,983			0		30,983
Total Short-Term Investment*		—			13,760,501			—		13,760,501
Total Securities Lending Reinvestments*		—			23,116,142			—		23,116,142
Purchased Options at Value		1,127			—			—		1,127
Total Investments	$	10,436,007		$	727,020,454		$	0	$	737,456,461
Collateral for Securities Loaned (Liability)	$	—		$	(23,115,033	)	$	—	$	(23,115,033	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	188,066		$	—	$	188,066
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(18,111	)		—		(18,111	)
Total Forward Contracts	$	—		$	169,955		$	—	$	169,955
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,603		$	—		$	—	$	1,603
Futures Contracts (Unrealized Depreciation)		(997	)		—			—		(997	)
Total Futures Contracts	$	606		$	—		$	—	$	606
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	10,809		$	—	$	10,809
OTC Swap Contracts at Value (Liabilities)		—			(160,589	)		—		(160,589	)
Total OTC Swap Contracts	$	—		$	(149,780	)	$	—	$	(149,780	)

* 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 September 30, 2019 is not presented.

BHFTI-79

Brighthouse Funds Trust I

Brighthouse Asset Allocation 100 Portfolio

Schedule of Investments as of September 30, 2019 (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)		5,713,904	$	69,081,105
BlackRock Capital Appreciation Portfolio (Class A) (a)		1,611,110		63,477,748
Brighthouse Small Cap Value Portfolio (Class A) (b)		2,518,353		36,314,644
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		2,701,957		27,938,231
Brighthouse/Artisan International Portfolio (Class A) (b)		5,522,251		65,107,336
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		75,235		16,333,553
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		7,262,847		79,310,291
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		2,639,092		89,412,446
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		4,367,393		60,837,788
Clarion Global Real Estate Portfolio (Class A) (b)		3,894,543		49,188,073
ClearBridge Aggressive Growth Portfolio (Class A) (b)		6,455,110		100,247,861
Frontier Mid Cap Growth Portfolio (Class A) (a)		460,627		16,062,064
Harris Oakmark International Portfolio (Class A) (b)		7,209,377		88,242,775
Invesco Comstock Portfolio (Class A) (b)		7,814,749		101,357,292
Invesco Global Equity Portfolio (Class A) (b)		1,935,617		39,815,638
Invesco Small Cap Growth Portfolio (Class A) (b)		2,345,208		28,212,852
Jennison Growth Portfolio (Class A) (a)		6,595,891		95,904,262
JPMorgan Small Cap Value Portfolio (Class A) (b)		2,328,731		32,299,498
Loomis Sayles Small Cap Growth Portfolio (Class A) (a)		2,742,057		34,961,222
MFS Research International Portfolio (Class A) (b)		4,131,822		49,044,731
MFS Value Portfolio (Class A) (a)		6,915,116		106,216,177
Affiliated Investment Companies—(Continued)
Morgan Stanley Discovery Portfolio (Class A) (b)		357,520		7,243,359
Neuberger Berman Genesis Portfolio (Class A) (a)		950,123		18,603,400
SSGA Emerging Markets Enhanced Index Portfolio (Class A) (b) (c)		2,913,633		27,184,194
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		4,607,025		96,010,394
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		3,349,175		98,164,324
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		1,528,389		16,109,216
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		1,072,514		24,110,117
Van Eck Global Natural Resources Portfolio (Class A) (a)		5,858,781		46,225,783
Victory Sycamore Mid Cap Value Portfolio (Class A) (b)		455,105		8,191,894
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		1,356,576		16,319,609
Total Mutual Funds (Cost $1,611,357,230)				1,607,527,877
Total Investments—100.0% (Cost $1,611,357,230)				1,607,527,877
Other assets and liabilities (net)—0.0%				(543,740	)
Net Assets—100.0%			$	1,606,984,137

*	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)	Non-income producing security.

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	1,607,527,877	$	—	$	—	$	1,607,527,877
Total Investments	$	1,607,527,877	$	—	$	—	$	1,607,527,877

BHFTI-80

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—69.7% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—69.7%
AB International Bond Portfolio (Class A) (a) (b)		19,579,707	$	204,607,933
Baillie Gifford International Stock Portfolio (Class A) (c)		25,492,374		308,202,797
BlackRock Bond Income Portfolio (Class A) (c)		7,452,730		807,205,203
BlackRock Capital Appreciation Portfolio (Class A) (c)		1,256,696		49,513,828
BlackRock High Yield Portfolio (Class A) (a)		15,573,899		118,984,589
Brighthouse Small Cap Value Portfolio (Class A) (a)		8,445,471		121,783,687
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (a)		7,689,140		79,505,704
Brighthouse/Artisan International Portfolio (Class A) (a)		20,478,297		241,439,117
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (c)		804,165		174,584,143
Brighthouse/Dimensional International Small Company Portfolio (Class A) (c)		14,473,299		158,048,427
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (a)		17,314,277		174,181,623
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (a)		30,651,766		291,804,809
Brighthouse/Templeton International Bond Portfolio (Class A) (a)		21,821,594		204,031,904
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (c)		1,725,354		58,454,978
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (a)		4,210,547		58,652,916
Clarion Global Real Estate Portfolio (Class A) (a)		8,533,019		107,772,024
ClearBridge Aggressive Growth Portfolio (Class A) (a)		2,585,900		40,159,024
Frontier Mid Cap Growth Portfolio (Class A) (b) (c)		4,377,370		152,638,884
Harris Oakmark International Portfolio (Class A) (a)		34,489,369		422,149,881
Invesco Comstock Portfolio (Class A) (a)		3,075,067		39,883,615
Invesco Global Equity Portfolio (Class A) (a)		5,628,942		115,787,338
Invesco Small Cap Growth Portfolio (Class A) (a) (b)		8,044,128		96,770,861
Jennison Growth Portfolio (Class A) (c)		4,174,547		60,697,915
JPMorgan Core Bond Portfolio (Class A) (a)		48,888,156		507,459,060
JPMorgan Small Cap Value Portfolio (Class A) (a)		7,191,057		99,739,966
MFS Research International Portfolio (Class A) (a)		25,085,056		297,759,616
MFS Value Portfolio (Class A) (c)		3,258,101		50,044,438
Morgan Stanley Discovery Portfolio (Class A) (a) (b)		2,563,861		51,943,823
Neuberger Berman Genesis Portfolio (Class A) (c)		4,204,217		82,318,567
PIMCO Inflation Protected Bond Portfolio (Class A) (a)		23,828,602		236,379,733
PIMCO Total Return Portfolio (Class A) (a)		54,463,992		654,657,181
SSGA Emerging Markets Enhanced Index Portfolio (Class A) (a) (b)		8,391,754		78,295,065
T. Rowe Price Large Cap Value Portfolio (Class A) (a)		1,422,764		41,701,223
T. Rowe Price Mid Cap Growth Portfolio (Class A) (a)		11,149,400		117,514,672
T. Rowe Price Small Cap Growth Portfolio (Class A) (c)		5,467,084		122,900,044
TCW Core Fixed Income Portfolio (Class A) (a)		61,238,224		641,164,203
Van Eck Global Natural Resources Portfolio (Class A) (c)		19,731,713		155,683,216
Wells Capital Management Mid Cap Value Portfolio (Class A) (a)		14,813,301		178,204,012
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (c)		29,037,156		392,291,973
Western Asset Management U.S. Government Portfolio (Class A) (c)		35,140,502		414,657,920
Total Mutual Funds (Cost $8,290,229,226)				8,209,575,912
U.S. Treasury & Government Agencies—27.8%
Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—4.0%
Fannie Mae Pool
2.920%, 03/01/35		2,950,000		3,013,203
3.180%, 07/01/35		2,726,333		2,903,887
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 3.176%, 11/25/28		6,531,706		6,936,619
Ginnie Mae II 30 Yr. Pool 4.000%, TBA (d)		110,000,000		114,370,899
Uniform Mortgage-Backed Securities
3.500%, TBA (d)		215,000,000		220,622,753
4.000%, TBA (d)		115,000,000		119,406,836
				467,254,197
Federal Agencies—1.6%
Federal Home Loan Mortgage Corp.
2.375%, 01/13/22		10,500,000		10,664,561
6.250%, 07/15/32		30,000,000		44,302,596
Federal National Mortgage Association
1.875%, 09/24/26		36,006,000		36,429,792
6.625%, 11/15/30		19,200,000		28,125,001
Residual Funding Corp. Principal Strip
Zero Coupon, 10/15/19		24,600,000		24,581,471
Zero Coupon, 07/15/20		18,900,000		18,615,915
Zero Coupon, 04/15/30		19,500,000		15,564,368
Tennessee Valley Authority
2.875%, 02/01/27		1,700,000		1,805,990
4.250%, 09/15/65		10,000,000		13,848,849
				193,938,543
U.S. Treasury—22.2%
U.S. Treasury Bonds
2.750%, 08/15/42		29,400,000		33,037,102
2.750%, 11/15/42		196,000,000		220,094,219
2.875%, 05/15/43		126,000,000		144,560,391
2.875%, 08/15/45 (e)		51,300,000		59,159,320
2.875%, 11/15/46 (e)		114,100,000		132,124,234
3.000%, 11/15/44		96,000,000		112,841,250
3.000%, 02/15/47		96,900,000		114,955,195
3.000%, 02/15/49 (e)		218,000,000		260,135,313
3.125%, 02/15/42		93,900,000		112,027,102
3.125%, 02/15/43		89,700,000		107,054,847
3.375%, 05/15/44		99,895,000		124,521,459
3.625%, 08/15/43		25,200,000		32,523,750
4.250%, 11/15/40 (e)		177,700,000		246,780,875
4.375%, 05/15/40		31,300,000		44,052,305
4.375%, 05/15/41		51,000,000		72,137,109
4.625%, 02/15/40		113,700,000		164,682,903
U.S. Treasury Inflation Indexed Bonds
0.750%, 02/15/45 (e) (f)		3,922,200		4,124,336
2.000%, 01/15/26 (e) (f)		4,911,956		5,454,904
3.625%, 04/15/28 (e) (f)		6,344,920		8,146,182
U.S. Treasury Note 2.750%, 08/31/23 (e) (g)		590,000,000		616,365,625
				2,614,778,421
Total U.S. Treasury & Government Agencies (Cost $2,951,423,667)				3,275,971,161

BHFTI-81

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—1.3%

Security Description	Principal Amount*		Value
Agriculture—0.1%
Philip Morris International, Inc. 6.375%, 05/16/38		5,000,000	$	6,881,019
Banks—1.1%
Bank of America Corp. 3.419%, 3M LIBOR + 1.040%, 12/20/28 (h)		10,000,000		10,434,163
Bank of New York Mellon Corp. (The) 4.950%, 3M LIBOR + 3.420%, 06/20/20 (h)		6,800,000		6,834,000
Citigroup, Inc. 3.887%, 3M LIBOR + 1.563%, 01/10/28 (h)		10,000,000		10,701,353
Cooperatieve Rabobank UA 3.375%, 05/21/25		5,000,000		5,316,805
Goldman Sachs Group, Inc. (The) 3.750%, 02/25/26		19,500,000		20,631,302
HSBC Holdings plc
4.300%, 03/08/26		20,000,000		21,657,606
5.250%, 03/14/44		3,000,000		3,715,215
JPMorgan Chase & Co.
3.220%, 3M LIBOR + 1.155%, 03/01/25 (h)		19,900,000		20,613,106
6.125%, 3M LIBOR + 3.330%, 04/30/24 (h)		3,000,000		3,250,710
Mizuho Financial Group, Inc. 2.632%, 04/12/21 (144A)		5,200,000		5,222,020
Morgan Stanley 3.591%, 3M LIBOR + 1.340%, 07/22/28 (h)		10,000,000		10,547,724
Wells Fargo & Co. 5.900%, 3M LIBOR + 3.110%, 06/15/24 (h)		8,600,000		9,231,563
				128,155,567
Biotechnology—0.0%
Amgen, Inc. 2.700%, 05/01/22		3,300,000		3,348,890
Electric—0.0%
Ohio Power Co. 5.375%, 10/01/21		949,000		1,007,335
Insurance—0.0%
MassMutual Global Funding II 2.500%, 10/17/22 (144A)		4,000,000		4,047,079
Pharmaceuticals—0.1%
Allergan Sales LLC 4.875%, 02/15/21 (144A)		5,000,000		5,139,053
Telecommunications—0.0%
AT&T, Inc. 4.800%, 06/15/44		3,000,000		3,326,986
Transportation—0.0%
Vessel Management Services, Inc. 3.432%, 08/15/36		2,769,000		2,943,617
Total Corporate Bonds & Notes (Cost $145,548,361)				154,849,546
Mortgage-Backed Securities—0.2%
Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—0.2%
CSMC Trust 3.953%, 09/15/37 (144A)		20,000,000		21,414,734
Total Mortgage-Backed Securities (Cost $20,599,840)				21,414,734
Municipals—0.0%
Los Angeles Community College District, Build America Bond 6.750%, 08/01/49		400,000		669,200
Port Authority of New York & New Jersey 4.458%, 10/01/62		1,845,000		2,345,788
Total Municipals (Cost $2,512,922)				3,014,988
Short-Term Investments—8.4%
Repurchase Agreements—8.4%
Barclays Capital Inc. Repurchase Agreement dated 09/30/19, at 2.780%, due on 10/01/19 with a maturity value of $28,702,216; collateralized by U.S. Treasury Note at 2.625%, maturing 03/31/25, with a market value of $28,941,370.		28,700,000		28,700,000
Deutsche Bank Securities, Inc.
Repurchase Agreement dated 09/30/19, at 2.080%, due on 10/02/19 with a maturity value of $100,005,778; collateralized by U.S. Treasury Inflation Indexed Notes at 0.125%, maturing 04/15/21, with a market value of $101,970,019.		100,000,000		100,000,000
Repurchase Agreement dated 09/30/19, at 2.800%, due on 10/01/19 with a maturity value of $402,831,329; collateralized by U.S. Treasury Bond at 4.375%, maturing 05/15/40, with a market value of $411,904,532.		402,800,000		402,800,000
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $10,090,978; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/21, with a market value of $10,297,184.		10,090,754		10,090,754
JPMorgan Securities LLC
Repurchase Agreement dated 09/30/19, at 2.080%, due on 10/02/19 with a maturity value of $345,019,933; collateralized by U.S. Treasury Note at 3.000%, maturing 09/30/25, with a market value of $353,470,750.		345,000,000		345,000,000
Repurchase Agreement dated 09/30/19, at 2.500%, due on 10/01/19 with a maturity value of $18,001,250; collateralized by U.S. Treasury Note at 2.625%, maturing 08/15/20, with a market value of $18,181,800.		18,000,000		18,000,000
Repurchase Agreement dated 09/30/19, at 2.750%, due on 10/01/19 with a maturity value of $86,306,592; collateralized by U.S. Treasury Note at 2.625%, maturing 08/15/20, and U.S. Treasury Inflation Indexed Note at 0.500%, maturing 01/15/28, with an aggregate market value of $88,490,276.		86,300,000		86,300,000
Total Short-Term Investments (Cost $990,890,754)				990,890,754
Total Investments—107.4% (Cost $12,401,204,770)				12,655,717,095
Other assets and liabilities (net)—(7.4)%				(867,663,844	)
Net Assets—100.0%			$	11,788,053,251

BHFTI-82

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	A Portfolio of Brighthouse Funds Trust I.
(b)	Non-income producing security.
(c)	A Portfolio of Brighthouse Funds Trust II.
(d)	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.
(e)	All or a portion of this security has been transferred in a secured-borrowing transaction.
(f)	Principal amount of security is adjusted for inflation.
(g)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2019, the market value of securities pledged was $209,251,951.
(h)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 September 30, 2019, the market value of 144A securities was $35,822,886, which is 0.3% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
JPY	20,900,000	UBSA		10/02/19		USD	194,193	$	(898	)
Contracts to Deliver
JPY	20,900,000	UBSA		10/02/19		USD	198,104		4,810
JPY	20,900,000	UBSA		11/05/19		USD	194,636		912
Net Unrealized Appreciation								$	4,824

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
S&P 500 Index E-Mini Futures		12/20/19		31,905		USD	4,751,452,125	$	(43,224,248	)

Glossary of Abbreviations

Counterparties

(UBSA)— UBS AG

Currencies

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

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

(CMO)— Collateralized Mortgage Obligation

BHFTI-83

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total Mutual Funds*	$	8,209,575,912		$	—		$	—	$	8,209,575,912
Total U.S. Treasury & Government Agencies*		—			3,275,971,161			—		3,275,971,161
Total Corporate Bonds & Notes*		—			154,849,546			—		154,849,546
Total Mortgage-Backed Securities*		—			21,414,734			—		21,414,734
Total Municipals*		—			3,014,988			—		3,014,988
Total Short-Term Investments*		—			990,890,754			—		990,890,754
Total Investments	$	8,209,575,912		$	4,446,141,183		$	—	$	12,655,717,095
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	5,722		$	—	$	5,722
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(898	)		—		(898	)
Total Forward Contracts	$	—		$	4,824		$	—	$	4,824
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(43,224,248	)	$	—		$	—	$	(43,224,248	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-84

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—97.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.4%
Parsons Corp. (a)		104,510	$	3,446,740
Auto Components—0.1%
Standard Motor Products, Inc.		29,900		1,451,645
Banks—16.5%
Associated Banc-Corp.		281,696		5,704,344
Bank of NT Butterfield & Son, Ltd. (The)		68,900		2,042,196
Community Bank System, Inc. (b)		47,078		2,904,242
CVB Financial Corp. (b)		119,154		2,486,744
East West Bancorp, Inc.		256,500		11,360,385
First Citizens BancShares, Inc. - Class A		17,970		8,473,753
First Financial Bancorp		214,000		5,237,650
First Hawaiian, Inc.		438,376		11,704,639
First Interstate BancSystem, Inc. - Class A		100,100		4,028,024
First Midwest Bancorp, Inc.		222,600		4,336,248
FNB Corp.		571,900		6,594,007
Great Western Bancorp, Inc.		180,700		5,963,100
Hancock Whitney Corp. (b)		380,960		14,588,863
Iberiabank Corp.		68,354		5,163,461
LegacyTexas Financial Group, Inc.		58,627		2,552,033
NBT Bancorp, Inc. (b)		105,900		3,874,881
Prosperity Bancshares, Inc.		58,700		4,145,981
Renasant Corp. (b)		174,880		6,122,549
S&T Bancorp, Inc.		76,000		2,776,280
South State Corp. (b)		71,072		5,351,722
UMB Financial Corp.		157,758		10,188,012
Umpqua Holdings Corp.		356,100		5,861,406
Valley National Bancorp (b)		490,500		5,331,735
Webster Financial Corp.		160,800		7,536,696
WesBanco, Inc.		102,700		3,837,899
Western Alliance Bancorp		124,000		5,713,920
				153,880,770
Beverages—0.4%
Cott Corp.		326,664		4,073,500
Building Products—2.5%
CSW Industrials, Inc.		124,684		8,606,936
Griffon Corp. (b)		118,701		2,489,160
Quanex Building Products Corp. (b)		181,709		3,285,299
Simpson Manufacturing Co., Inc. (b)		130,626		9,061,526
				23,442,921
Capital Markets—3.1%
Apollo Investment Corp. (b)		215,739		3,471,241
Artisan Partners Asset Management, Inc. - Class A (b)		152,123		4,295,954
GlassBridge Enterprises, Inc. (a)		572		28,600
Legg Mason, Inc.		98,000		3,742,620
Main Street Capital Corp. (b)		68,000		2,938,280
New Mountain Finance Corp. (b)		293,596		4,001,713
Stifel Financial Corp.		134,500		7,717,610
Westwood Holdings Group, Inc.		99,535		2,754,133
				28,950,151
Chemicals—4.2%
Element Solutions, Inc. (a)		162,993	$	1,659,269
Ferro Corp. (a)		181,500		2,152,590
HB Fuller Co. (b)		106,500		4,958,640
Innospec, Inc.		126,837		11,306,250
Olin Corp. (b)		268,600		5,028,192
PolyOne Corp.		149,972		4,896,586
PQ Group Holdings, Inc. (a)		111,038		1,769,946
Scotts Miracle-Gro Co. (The)		36,300		3,696,066
Sensient Technologies Corp. (b)		50,656		3,477,534
				38,945,073
Commercial Services & Supplies—3.1%
ACCO Brands Corp.		223,010		2,201,109
Deluxe Corp. (b)		130,148		6,398,076
Ennis, Inc. (b)		186,688		3,772,964
Healthcare Services Group, Inc.		70,637		1,715,773
Knoll, Inc.		147,952		3,750,583
UniFirst Corp.		29,500		5,756,040
Viad Corp.		81,423		5,467,554
				29,062,099
Communications Equipment—1.1%
CommScope Holding Co., Inc. (a) (b)		125,890		1,480,466
NETGEAR, Inc. (a) (b)		90,331		2,910,465
NetScout Systems, Inc. (a)		104,590		2,411,845
Viavi Solutions, Inc. (a)		225,700		3,160,929
				9,963,705
Construction & Engineering—1.7%
MasTec, Inc. (a) (b)		204,275		13,263,576
Primoris Services Corp.		149,300		2,927,773
				16,191,349
Construction Materials—1.5%
Eagle Materials, Inc.		154,034		13,864,600
Containers & Packaging—1.4%
Berry Global Group, Inc. (a)		142,603		5,600,020
Silgan Holdings, Inc.		249,275		7,486,974
				13,086,994
Distributors—0.2%
Core-Mark Holding Co., Inc.		72,199		2,318,671
Diversified Consumer Services—0.5%
Franchise Group, Inc. (a)		47,228		562,013
Service Corp. International (b)		79,100		3,781,771
				4,343,784
Diversified Financial Services—0.2%
Jefferies Financial Group, Inc.		124,477		2,290,377
Electric Utilities—2.8%
ALLETE, Inc.		50,000		4,370,500

BHFTI-85

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electric Utilities—(Continued)
El Paso Electric Co.		75,100	$	5,037,708
Hawaiian Electric Industries, Inc. (b)		191,066		8,714,520
IDACORP, Inc.		68,610		7,730,289
				25,853,017
Electrical Equipment—1.5%
Atkore International Group, Inc. (a)		400,450		12,153,657
EnerSys		25,488		1,680,679
				13,834,336
Electronic Equipment, Instruments & Components—3.6%
AVX Corp. (b)		208,898		3,175,250
Badger Meter, Inc. (b)		45,192		2,426,811
Belden, Inc. (b)		61,104		3,259,287
Coherent, Inc. (a)		16,100		2,474,892
Flex, Ltd. (a)		321,200		3,361,358
Littelfuse, Inc. (b)		6,320		1,120,599
Novanta, Inc. (a)		64,982		5,310,329
Tech Data Corp. (a)		48,676		5,073,986
TTM Technologies, Inc. (a) (b)		264,076		3,220,407
Vishay Intertechnology, Inc.		280,000		4,740,400
				34,163,319
Energy Equipment & Services—1.7%
C&J Energy Services, Inc. (a)		109,482		1,174,742
Dril-Quip, Inc. (a)		55,400		2,779,972
Forum Energy Technologies, Inc. (a)		390,424		605,157
Helix Energy Solutions Group, Inc. (a)		347,500		2,800,850
Oil States International, Inc. (a)		108,175		1,438,728
Patterson-UTI Energy, Inc. (b)		644,306		5,508,816
TETRA Technologies, Inc. (a)		330,822		664,952
Valaris plc (a) (b)		182,218		876,469
				15,849,686
Entertainment—0.5%
Cinemark Holdings, Inc. (b)		114,200		4,412,688
Equity Real Estate Investment Trusts—5.9%
Acadia Realty Trust		141,518		4,044,585
Brandywine Realty Trust		353,300		5,352,495
Highwoods Properties, Inc.		108,100		4,858,014
Lexington Realty Trust		423,600		4,341,900
Life Storage, Inc.		43,300		4,564,253
Outfront Media, Inc.		273,300		7,592,274
Pebblebrook Hotel Trust		176,581		4,912,483
RPT Realty (b)		234,900		3,182,895
Spirit Realty Capital, Inc. (b)		96,200		4,604,132
Summit Hotel Properties, Inc. (b)		266,200		3,087,920
Washington Real Estate Investment Trust		322,747		8,830,358
				55,371,309
Food & Staples Retailing—0.7%
BJ’s Wholesale Club Holdings, Inc. (a)		129,710		3,355,598
Performance Food Group Co. (a)		79,386		3,652,550
				7,008,148
Food Products—3.3%
Hostess Brands, Inc. (a) (b)		313,761		4,387,948
J&J Snack Foods Corp. (b)		67,271		12,916,032
Nomad Foods, Ltd. (a)		434,453		8,906,286
TreeHouse Foods, Inc. (a) (b)		79,669		4,417,646
				30,627,912
Gas Utilities—1.1%
South Jersey Industries, Inc.		109,200		3,593,772
Southwest Gas Holdings, Inc.		73,800		6,718,752
				10,312,524
Health Care Equipment & Supplies—1.3%
Avanos Medical, Inc. (a)		163,542		6,126,283
ICU Medical, Inc. (a)		10,629		1,696,389
Merit Medical Systems, Inc. (a) (b)		12,100		368,566
STERIS plc		25,500		3,684,495
				11,875,733
Health Care Providers & Services—0.4%
Hanger, Inc. (a)		84,041		1,712,756
Premier, Inc. - Class A (a) (b)		78,856		2,280,515
				3,993,271
Hotels, Restaurants & Leisure—4.6%
Cheesecake Factory, Inc. (The) (b)		69,500		2,896,760
Choice Hotels International, Inc. (b)		65,200		5,800,192
Cracker Barrel Old Country Store, Inc. (b)		20,900		3,399,385
Denny’s Corp. (a)		454,725		10,351,815
Dine Brands Global, Inc.		132,968		10,086,952
International Speedway Corp. - Class A		40,600		1,827,406
Jack in the Box, Inc. (b)		15,641		1,425,208
Texas Roadhouse, Inc. (b)		46,300		2,431,676
Wendy’s Co. (The)		231,763		4,630,625
				42,850,019
Household Durables—1.7%
Helen of Troy, Ltd. (a)		46,326		7,303,757
KB Home		116,200		3,950,800
Meritage Homes Corp. (a) (b)		67,500		4,748,625
				16,003,182
Household Products—1.5%
Central Garden and Pet Co. (Voting Shares) (a) (b)		120,846		3,532,329
Central Garden and Pet Co. (Non-Voting Shares) (a) (b)		134,588		3,731,452
Spectrum Brands Holdings, Inc.		123,897		6,531,846
				13,795,627
Insurance—5.1%
American Equity Investment Life Holding Co.		213,800		5,173,960
CNO Financial Group, Inc.		93,938		1,487,038
Enstar Group, Ltd. (a) (b)		24,055		4,568,525
Hanover Insurance Group, Inc. (The)		88,194		11,953,815
Kemper Corp.		11,124		867,116
ProAssurance Corp.		153,862		6,196,023

BHFTI-86

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Selective Insurance Group, Inc.		103,090	$	7,751,337
Stewart Information Services Corp.		125,359		4,862,676
White Mountains Insurance Group, Ltd.		4,314		4,659,120
				47,519,610
IT Services—0.6%
MAXIMUS, Inc.		32,650		2,522,539
Sykes Enterprises, Inc. (a)		115,618		3,542,535
				6,065,074
Machinery—6.1%
Alamo Group, Inc. (b)		8,227		968,482
Altra Industrial Motion Corp.		149,200		4,132,094
Barnes Group, Inc.		80,000		4,123,200
Douglas Dynamics, Inc.		118,475		5,280,431
Franklin Electric Co., Inc.		189,115		9,041,588
Hillenbrand, Inc. (b)		124,425		3,842,244
ITT, Inc.		152,900		9,355,951
Kadant, Inc. (b)		44,781		3,931,324
Mueller Industries, Inc. (b)		361,366		10,363,977
NN, Inc. (b)		132,904		947,605
Rexnord Corp. (a)		107,800		2,915,990
TriMas Corp. (a)		54,467		1,669,414
				56,572,300
Marine—0.2%
Kirby Corp. (a)		29,200		2,399,072
Media—0.8%
AH Belo Corp. - Class A		276,728		1,037,730
Cable One, Inc.		3,600		4,516,920
New Media Investment Group, Inc. (b)		186,636		1,644,263
				7,198,913
Metals & Mining—0.4%
Compass Minerals International, Inc. (b)		53,602		3,027,977
Mayville Engineering Co., Inc. (a)		34,098		449,753
				3,477,730
Mortgage Real Estate Investment Trusts—1.2%
Apollo Commercial Real Estate Finance, Inc. (b)		218,602		4,190,600
Invesco Mortgage Capital, Inc.		124,640		1,908,238
New York Mortgage Trust, Inc.		283,478		1,726,381
Two Harbors Investment Corp. (b)		282,065		3,703,514
				11,528,733
Multi-Utilities—0.7%
Black Hills Corp.		82,600		6,337,898
Oil, Gas & Consumable Fuels—2.5%
Berry Petroleum Corp. (b)		154,019		1,441,618
Callon Petroleum Co. (a) (b)		812,981		3,528,338
Delek U.S. Holdings, Inc. (b)		119,200		4,326,960
Magnolia Oil & Gas Corp. - Class A (a) (b)		150,714		1,672,925
Oil, Gas & Consumable Fuels—(Continued)
Oasis Petroleum, Inc. (a)		454,400		1,572,224
QEP Resources, Inc. (b)		493,116		1,824,529
SM Energy Co.		266,100		2,578,509
WPX Energy, Inc. (a) (b)		580,965		6,152,419
				23,097,522
Paper & Forest Products—2.1%
Louisiana-Pacific Corp.		158,000		3,883,640
Neenah, Inc.		161,267		10,501,707
Schweitzer-Mauduit International, Inc. (b)		137,613		5,152,231
				19,537,578
Pharmaceuticals—0.8%
Catalent, Inc. (a) (b)		63,100		3,007,346
Prestige Consumer Healthcare, Inc. (a) (b)		122,172		4,238,147
				7,245,493
Professional Services—0.4%
Korn Ferry		93,012		3,593,984
Road & Rail—0.9%
Saia, Inc. (a)		37,800		3,541,860
Werner Enterprises, Inc. (b)		136,100		4,804,330
				8,346,190
Semiconductors & Semiconductor Equipment—3.5%
Brooks Automation, Inc. (b)		89,401		3,310,519
Cabot Microelectronics Corp. (b)		45,524		6,428,444
Cirrus Logic, Inc. (a)		59,900		3,209,442
DSP Group, Inc. (a)		96,546		1,359,850
MaxLinear, Inc. (a) (b)		96,800		2,166,384
ON Semiconductor Corp. (a)		252,500		4,850,525
Teradyne, Inc.		132,300		7,661,493
Tower Semiconductor, Ltd. (U.S. Listed Shares) (a)		189,600		3,647,904
				32,634,561
Software—0.6%
ACI Worldwide, Inc. (a)		73,870		2,313,978
BlackBerry, Ltd. (a)		53,311		279,883
Cision, Ltd. (a)		133,798		1,028,906
Verint Systems, Inc. (a)		42,269		1,808,268
				5,431,035
Specialty Retail—0.9%
American Eagle Outfitters, Inc.		49,918		809,670
Asbury Automotive Group, Inc. (a)		32,200		3,295,026
Caleres, Inc. (b)		109,500		2,563,395
Urban Outfitters, Inc. (a) (b)		51,736		1,453,264
				8,121,355
Technology Hardware, Storage & Peripherals—0.7%
NCR Corp. (a)		202,062		6,377,077

BHFTI-87

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Textiles, Apparel & Luxury Goods—1.4%
Delta Apparel, Inc. (a)		87,627	$	2,081,141
Steven Madden, Ltd. (b)		217,864		7,797,353
Wolverine World Wide, Inc.		108,600		3,069,036
				12,947,530
Thrifts & Mortgage Finance—0.3%
United Financial Bancorp, Inc.		199,773		2,722,906
Trading Companies & Distributors—0.8%
Aircastle, Ltd.		82,956		1,860,703
H&E Equipment Services, Inc.		122,300		3,529,578
WESCO International, Inc. (a)		40,900		1,953,793
				7,344,074
Total Common Stocks (Cost $826,862,523)				909,761,785
Preferred Stock—0.1%
Industrial Conglomerates—0.1%
Steel Partners Holdings L.P., 6.000%, 02/07/26 (Cost $1,172,026)		61,496		1,301,870
Rights—0.0%
Chemicals—0.0%
A. Schulman, Inc. (a) (Cost $55,091)		127,232		55,091
Short-Term Investment—2.3%
Repurchase Agreement—2.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $21,042,133; collateralized by U.S. Treasury Notes with rates ranging from 1.625% - 2.625%, maturity dates ranging from 06/15/21 - 06/30/21, and an aggregate market value of $21,469,966.		21,041,665		21,041,665
Total Short-Term Investments (Cost $21,041,665)				21,041,665
Securities Lending Reinvestments (c)—14.8%
Certificates of Deposit—6.5%
ABN AMRO Bank NV 2.120%, 01/10/20		1,000,000		1,000,160
Banco Del Estado De Chile New York 2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		2,000,000		1,999,890
Certificates of Deposit—(Continued)
Bank of Montreal (Chicago)
1.990%, SOFR + 0.170%, 02/07/20 (d)		2,000,000		2,000,422
2.070%, SOFR + 0.250%, 07/10/20 (d)		1,000,000		1,000,068
2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		2,000,000		1,999,964
2.210%, FEDEFF PRV + 0.380%, 09/09/20 (d)		1,000,000		999,996
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		4,000,000		3,998,232
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		2,000,000		1,998,604
Canadian Imperial Bank of Commerce 2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		1,000,000		1,000,005
China Construction Bank Corp. 2.470%, 10/18/19		2,000,000		2,000,254
Cooperative Rabobank UA
2.439%, 3M LIBOR + 0.150%, 01/08/20 (d)		1,500,000		1,500,029
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		2,000,000		2,000,286
Credit Industriel et Commercial 2.227%, 1M LIBOR + 0.160%, 03/05/20 (d)		2,000,000		1,999,498
Credit Suisse AG
2.219%, 1M LIBOR + 0.130%, 11/04/19 (d)		2,000,000		1,999,840
2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		3,000,000		3,000,000
DNB Bank ASA 2.020%, 03/10/20		1,000,000		999,786
DZ Bank AG
Zero Coupon, 10/18/19		1,987,960		1,997,900
Zero Coupon, 11/18/19		994,301		997,180
Zero Coupon, 03/10/20		989,594		990,790
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 11/18/19		1,988,577		1,994,360
Mizuho Bank, Ltd. 2.174%, 1M LIBOR + 0.120%, 11/27/19 (d)		4,000,000		3,999,924
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		2,000,000		1,999,794
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		1,000,000		999,840
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (d)		1,000,000		1,000,126
Standard Chartered Bank
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		5,000,000		4,999,975
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (d)		1,000,000		999,994
Sumitomo Mitsui Banking Corp. 2.172%, 1M LIBOR + 0.130%, 12/09/19 (d)		2,000,000		1,999,740
Sumitomo Mitsui Trust Bank, Ltd. 2.184%, 1M LIBOR + 0.140%, 11/20/19 (d)		1,500,000		1,499,970
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 10/17/19		1,973,515		1,998,020
Svenska Handelsbanken AB
2.247%, 1M LIBOR + 0.180%, 06/05/20 (d)		2,000,000		1,999,060
2.429%, 1M LIBOR + 0.380%, 12/10/19 (d)		1,000,000		1,000,402
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		3,000,000		2,999,989
				60,974,098

BHFTI-88

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—1.8%
Bank of China, Ltd. 2.470%, 10/11/19		994,099	$	999,289
China Construction Bank Corp. 2.500%, 10/01/19		1,000,000		1,000,008
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		3,000,000		3,000,486
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		1,000,000		1,000,557
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		1,000,000		1,000,028
Societe Generale 2.555%, 3M LIBOR + 0.410%, 12/18/19 (d)		3,002,544		3,002,745
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		2,000,000		1,999,744
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		1,000,000		1,000,149
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (d)		4,000,000		4,000,000
				17,003,006
Repurchase Agreements—6.5%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $2,000,107; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,011,602; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $5,031,050; collateralized by various Common Stock with an aggregate market value of $5,500,565.		5,000,000		5,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $2,004,219; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,700,113; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,734,001.		1,700,000		1,700,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $2,726,205; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $2,780,537.		2,726,016		2,726,016
Repurchase Agreements—(Continued)
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $2,023,963; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $2,195,337.		2,000,000		2,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $2,000,111; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $2,226,004.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $3,001,178; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $3,334,222.		3,000,000		3,000,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $11,000,718; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $11,220,000.		11,000,000		11,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $6,300,345; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $6,999,690.		6,300,000		6,300,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $9,000,495; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $9,999,557.		9,000,000		9,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,000,389; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,802,256; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $6,444,159.		5,800,000		5,800,000

BHFTI-89

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $900,350; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $999,956.		900,000	$	900,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $4,001,556; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $4,444,248.		4,000,000		4,000,000
				60,426,016
Total Securities Lending Reinvestments (Cost $138,405,022)				138,403,120
Total Investments—114.7% (Cost $987,536,327)				1,070,563,531
Other assets and liabilities (net)—(14.7)%				(137,603,591	)
Net Assets—100.0%			$	932,959,940

*	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 September 30, 2019, the market value of securities loaned was $135,039,003 and the collateral received consisted of cash in the amount of $138,356,606 and non-cash collateral with a value of $25,828. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing 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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	909,761,785	$	—		$	—	$	909,761,785
Total Preferred Stock*		1,301,870		—			—		1,301,870
Total Rights*		—		55,091			—		55,091
Total Short-Term Investment*		—		21,041,665			—		21,041,665
Total Securities Lending Reinvestments*		—		138,403,120			—		138,403,120
Total Investments	$	911,063,655	$	159,499,876		$	—	$	1,070,563,531
Collateral for Securities Loaned (Liability)	$	—	$	(138,356,606	)	$	—	$	(138,356,606	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-90

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—92.1% of Net Assets

Security Description	Shares		Value
Brazil—10.8%
Ambev S.A.		3,132,300	$	14,512,034
Banco Bradesco S.A. (ADR)		3,840,308		31,260,107
BRF S.A. (a)		792,768		7,288,593
Lojas Renner S.A.		1,194,105		14,504,742
Multiplan Empreendimentos Imobiliarios S.A.		1,519,911		10,553,540
Vale S.A. (ADR) (a)		1,896,900		21,814,350
				99,933,366
Chile—0.9%
Banco Santander Chile (ADR)		293,100		8,206,800
China—28.2%
58.com, Inc. (ADR) (a)		196,407		9,684,829
Autohome, Inc. (ADR) (a) (b)		167,667		13,938,158
Budweiser Brewing Co. APAC, Ltd. (144A) (a)		1,814,500		6,505,410
China International Travel Service Corp., Ltd. - Class A		1,347,598		17,585,155
China Mobile, Ltd.		1,458,000		12,100,303
China Resources Land, Ltd.		4,994,000		20,820,884
Hangzhou Hikvision Digital Technology Co., Ltd. - Class A		1,212,485		5,537,418
Huazhu Group, Ltd. (ADR) (b)		331,452		10,944,545
Kweichow Moutai Co., Ltd. - Class A		104,067		16,777,672
Midea Group Co., Ltd. - Class A		1,290,099		9,290,569
Ping An Insurance Group Co. of China, Ltd. - Class H		3,240,000		37,495,569
Prosus NV (a)		119,256		8,754,363
Shanghai International Airport Co., Ltd. - Class A		1,166,922		13,088,856
Sunny Optical Technology Group Co., Ltd.		561,600		8,377,165
Tencent Holdings, Ltd.		1,269,800		53,889,927
Wuxi Biologics Cayman, Inc. (a)		788,500		8,057,809
Yum China Holdings, Inc.		155,594		7,068,635
				259,917,267
Hong Kong—4.9%
AIA Group, Ltd.		2,622,600		24,608,273
Hang Lung Group, Ltd.		2,339,000		5,842,433
Hang Lung Properties, Ltd.		1,212,000		2,754,885
Hong Kong Exchanges and Clearing, Ltd.		400,690		11,827,231
				45,032,822
India—14.8%
Hero MotoCorp, Ltd.		85,943		3,263,372
Hindustan Unilever, Ltd.		475,451		13,322,831
Housing Development Finance Corp., Ltd.		1,355,785		37,851,597
ITC, Ltd.		4,354,317		15,946,357
Kotak Mahindra Bank, Ltd.		923,431		21,394,411
SBI Life Insurance Co., Ltd.		729,645		8,691,334
Tata Consultancy Services, Ltd.		578,536		17,114,400
UltraTech Cement, Ltd.		298,663		18,322,949
				135,907,251
Indonesia—5.7%
Astra International Tbk PT		37,647,700		17,548,116
Bank Central Asia Tbk PT		8,491,700		18,163,387
Bank Rakyat Indonesia Persero Tbk PT		27,614,400		8,019,416
Indocement Tunggal Prakarsa Tbk PT		6,657,600		8,809,415
				52,540,334
Luxembourg—1.1%
Tenaris S.A. (ADR)		480,000		10,166,400
Macau—1.2%
Sands China, Ltd.		2,378,000		10,857,530
Mexico—5.1%
Fomento Economico Mexicano S.A.B. de C.V. (ADR)		208,877		19,128,955
Grupo Aeroportuario del Sureste S.A.B. de C.V. - Class B		680,300		10,372,386
Grupo Financiero Banorte S.A.B. de C.V. - Class O		3,179,932		17,138,825
				46,640,166
Netherlands—0.6%
ASML Holding NV		20,700		5,137,780
Philippines—3.2%
Ayala Land, Inc.		20,353,640		19,429,248
Bank of the Philippine Islands		5,454,802		9,789,229
				29,218,477
Russia—3.0%
Lukoil PJSC (ADR)		79,443		6,572,319
Novatek PJSC		482,780		9,799,057
Sberbank of Russia PJSC		3,270,788		11,493,406
				27,864,782
South Africa—3.0%
Massmart Holdings, Ltd.		413,068		1,196,137
MTN Group, Ltd.		1,366,800		8,694,147
Naspers, Ltd. - N Shares		119,256		18,118,171
				28,008,455
South Korea—1.6%
LG Chem, Ltd.		59,328		14,799,189
Taiwan—5.6%
Taiwan Semiconductor Manufacturing Co., Ltd.		5,848,000		51,517,577
Thailand—1.4%
Siam Cement PCL (The)		941,350		12,557,489
Turkey—1.0%
BIM Birlesik Magazalar A/S		1,113,970		9,702,273
Total Common Stocks (Cost $722,656,722)				848,007,958
Preferred Stocks—7.3%
Brazil—1.5%
Petroleo Brasileiro S.A.		2,046,330		13,568,488
South Korea—5.8%
Samsung Electronics Co., Ltd.		1,628,150		53,509,683
Total Preferred Stocks (Cost $53,721,996)				67,078,171

BHFTI-91

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Short-Term Investment—1.1%

Security Description	Principal Amount*		Value
Repurchase Agreement—1.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $10,214,998; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $10,421,139.		10,214,771	$	10,214,771
Total Short-Term Investments (Cost $10,214,771)				10,214,771
Securities Lending Reinvestments (c)—2.6%
Repurchase Agreements—2.6%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $2,000,107; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,300,087; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,326,001.		1,300,000		1,300,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,200,080; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,224,000.		1,200,000		1,200,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $5,246,972; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $5,351,541.		5,246,608		5,246,608
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $401,629; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $409,641.		401,609		401,609
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,500,083; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,669,503.		1,500,000		1,500,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $2,500,982; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $2,778,519.		2,500,000		2,500,000
Repurchase Agreements—(Continued)
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $5,000,326; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $5,100,000.		5,000,000		5,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $3,100,170; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,444,292.		3,100,000		3,100,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $700,272; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $777,743.		700,000		700,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $900,350; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $999,956.		900,000		900,000
				23,848,217
Total Securities Lending Reinvestments (Cost $23,848,217)				23,848,217
Total Investments—103.1% (Cost $810,441,706)				949,149,117
Other assets and liabilities (net)—(3.1)%				(28,205,449	)
Net Assets—100.0%			$	920,943,668

*	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 September 30, 2019, the market value of securities loaned was $22,901,387 and the collateral received consisted of cash in the amount of $23,848,217. 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 September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $6,505,410, which is 0.7% of net assets.

Glossary of Abbreviations

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-92

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Ten Largest Industries as of September 30, 2019 (Unaudited)	% of Net Assets
Banks		13.6
Interactive Media & Services		8.4
Insurance		7.7
Real Estate Management & Development		6.5
Beverages		6.2
Semiconductors & Semiconductor Equipment		6.2
Technology Hardware, Storage & Peripherals		5.8
Hotels, Restaurants & Leisure		5.0
Construction Materials		4.3
Thrifts & Mortgage Finance		4.1

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Brazil	$	99,933,366	$	—		$	—	$	99,933,366
Chile		8,206,800		—			—		8,206,800
China		56,895,940		203,021,327			—		259,917,267
Hong Kong		—		45,032,822			—		45,032,822
India		—		135,907,251			—		135,907,251
Indonesia		—		52,540,334			—		52,540,334
Luxembourg		10,166,400		—			—		10,166,400
Macau		—		10,857,530			—		10,857,530
Mexico		46,640,166		—			—		46,640,166
Netherlands		—		5,137,780			—		5,137,780
Philippines		—		29,218,477			—		29,218,477
Russia		6,572,319		21,292,463			—		27,864,782
South Africa		—		28,008,455			—		28,008,455
South Korea		—		14,799,189			—		14,799,189
Taiwan		—		51,517,577			—		51,517,577
Thailand		12,557,489		—			—		12,557,489
Turkey		—		9,702,273			—		9,702,273
Total Common Stocks		240,972,480		607,035,478			—		848,007,958
Preferred Stocks
Brazil		13,568,488		—			—		13,568,488
South Korea		—		53,509,683			—		53,509,683
Total Preferred Stocks		13,568,488		53,509,683			—		67,078,171
Total Short-Term Investment*		—		10,214,771			—		10,214,771
Total Securities Lending Reinvestments*		—		23,848,217			—		23,848,217
Total Investments	$	254,540,968	$	694,608,149		$	—	$	949,149,117
Collateral for Securities Loaned (Liability)	$	—	$	(23,848,217	)	$	—	$	(23,848,217	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-93

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—93.2% of Net Assets

Security Description	Shares		Value
Brazil—2.8%
B3 S.A. - Brasil Bolsa Balcao		528,719	$	5,551,934
Petrobras Distribuidora S.A. (144A)		485,800		3,218,829
Petroleo Brasileiro S.A. (ADR) (a)		1,642,473		23,766,585
				32,537,348
Canada—1.4%
Canadian National Railway Co.		97,899		8,797,204
Dollarama, Inc.		135,071		4,835,580
TMX Group, Ltd.		31,900		2,753,101
				16,385,885
China—0.3%
ANTA Sports Products, Ltd.		442,000		3,660,408
Denmark—3.2%
Carlsberg A/S - Class B		18,222		2,696,084
DSV A/S		12,241		1,165,990
Genmab A/S (b)		124,223		25,249,731
Novo Nordisk A/S - Class B		147,757		7,629,437
				36,741,242
France—14.4%
Air Liquide S.A.		322,936		46,012,899
Airbus SE		334,537		43,501,600
Amundi S.A.		131,393		9,172,047
BNP Paribas S.A.		443,346		21,616,123
Eiffage S.A. (144A)		140,828		14,609,707
Safran S.A.		69,595		10,971,053
Schneider Electric SE		50,420		4,421,857
Vinci S.A.		164,363		17,716,386
				168,021,672
Germany—19.0%
Allianz SE		124,849		29,114,274
Beiersdorf AG		53,965		6,367,295
Deutsche Boerse AG		458,600		71,688,772
Deutsche Post AG		1,011,981		33,802,455
SAP SE		60,177		7,074,675
Symrise AG		128,207		12,460,212
Wirecard AG		376,095		60,105,221
				220,612,904
Hong Kong—3.7%
AIA Group, Ltd.		4,592,372		43,090,958
Ireland—0.8%
Amarin Corp. plc (ADR) (a) (b)		623,187		9,447,515
Israel—0.6%
Nice, Ltd. (ADR) (b)		51,003		7,334,231
Italy—3.4%
Assicurazioni Generali S.p.A.		953,354		18,488,282
Italy—(Continued)
Intesa Sanpaolo S.p.A.		8,647,869		20,530,070
				39,018,352
Japan—4.5%
Daiichi Sankyo Co., Ltd.		74,000		4,666,818
Nippon Shinyaku Co., Ltd.		267,800		22,638,592
Recruit Holdings Co., Ltd. (144A)		190,310		5,816,758
Taiyo Nippon Sanso Corp.		957,300		19,436,603
				52,558,771
Macau—0.6%
Wynn Macau, Ltd.		3,718,000		7,310,017
Netherlands—4.7%
Adyen NV (144A) (b)		15,145		9,985,950
ING Groep NV		2,671,320		28,002,465
Koninklijke DSM NV		139,576		16,789,727
				54,778,142
Russia—0.5%
MMC Norilsk Nickel PJSC (ADR)		232,479		5,950,058
Sweden—0.6%
Hennes & Mauritz AB - B Shares		342,331		6,643,497
Switzerland—8.2%
Idorsia, Ltd. (144A) (a) (b)		223,451		5,492,745
Lonza Group AG (b)		52,992		17,931,721
Nestle S.A.		457,626		49,640,564
Novartis AG		162,892		14,141,518
UBS Group AG (b)		706,960		8,036,838
				95,243,386
United Kingdom—10.9%
AVEVA Group plc		211,730		9,630,435
Diageo plc		354,344		14,499,810
Experian plc		457,046		14,601,984
Linde plc (b)		394,299		76,466,659
London Stock Exchange Group plc		27,944		2,509,543
RELX plc		411,362		9,759,817
				127,468,248
United States—13.6%
Alphabet, Inc. - Class A (b)		10,937		13,355,608
Alphabet, Inc. - Class C (b)		10,753		13,107,907
Amazon.com, Inc. (b)		13,912		24,149,980
Aon plc		197,140		38,160,390
Intercontinental Exchange, Inc.		155,765		14,372,436
Medtronic plc		303,364		32,951,398
Willis Towers Watson plc		114,929		22,177,849
				158,275,568
Total Common Stocks (Cost $901,909,771)				1,085,078,202

BHFTI-94

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Preferred Stock—2.2%

Security Description	Shares/ Principal Amount*		Value
Brazil—2.2%
Petroleo Brasileiro S.A. (Cost $23,788,616)		3,853,987	$	25,554,421
Equity Linked Security—2.0%
United Kingdom—2.0%
Ryanair Holdings plc (HSBC Bank plc), Expires 10/29/19 (b) (c) (Cost $27,286,791)		2,007,545		23,095,653
Short-Term Investment—2.6%
Repurchase Agreement—2.6%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $30,149,430; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $30,756,107.		30,148,760		30,148,760
Total Short-Term Investments (Cost $30,148,760)				30,148,760
Securities Lending Reinvestments (d)—0.8%
Repurchase Agreements—0.8%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $2,000,107; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $500,033; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $510,000.		500,000		500,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $500,033; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $510,000.		500,000		500,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $1,631,578; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $1,664,095.		1,631,465		1,631,465
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $1,000,063; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $600,033; collateralized by U.S. Treasury and Foreign Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $667,801.		600,000		600,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $2,000,131; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $1,400,077; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,555,487.		1,400,000		1,400,000
				9,631,465
Total Securities Lending Reinvestments (Cost $9,631,465)				9,631,465
Total Investments—100.8% (Cost $992,765,403)				1,173,508,501
Other assets and liabilities (net)—(0.8)%				(9,472,478	)
Net Assets—100.0%			$	1,164,036,023

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $9,925,913 and the collateral received consisted of cash in the amount of $9,631,465 and non-cash collateral with a value of $539,915. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(b)	Non-income producing security.
(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 September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $39,123,989, which is 3.4% of net assets.
(ADR)—	American Depositary Receipt

BHFTI-95

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Ten Largest Industries as of September 30, 2019 (Unaudited)	% of Net Assets
Chemicals		14.7
Insurance		13.0
Capital Markets		9.8
Banks		8.0
IT Services		6.0
Aerospace & Defense		4.7
Food Products		4.3
Oil, Gas & Consumable Fuels		4.2
Pharmaceuticals		4.2
Biotechnology		3.5

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Brazil	$	32,537,348	$	—		$	—	$	32,537,348
Canada		16,385,885		—			—		16,385,885
China		—		3,660,408			—		3,660,408
Denmark		—		36,741,242			—		36,741,242
France		—		168,021,672			—		168,021,672
Germany		—		220,612,904			—		220,612,904
Hong Kong		—		43,090,958			—		43,090,958
Ireland		9,447,515		—			—		9,447,515
Israel		7,334,231		—			—		7,334,231
Italy		—		39,018,352			—		39,018,352
Japan		—		52,558,771			—		52,558,771
Macau		—		7,310,017			—		7,310,017
Netherlands		—		54,778,142			—		54,778,142
Russia		—		5,950,058			—		5,950,058
Sweden		—		6,643,497			—		6,643,497
Switzerland		—		95,243,386			—		95,243,386
United Kingdom		—		127,468,248			—		127,468,248
United States		158,275,568		—			—		158,275,568
Total Common Stocks		223,980,547		861,097,655			—		1,085,078,202
Total Preferred Stock*		25,554,421		—			—		25,554,421
Total Equity Linked Security*		—		23,095,653			—		23,095,653
Total Short-Term Investment*		—		30,148,760			—		30,148,760
Total Securities Lending Reinvestments*		—		9,631,465			—		9,631,465
Total Investments	$	249,534,968	$	923,973,533		$	—	$	1,173,508,501
Collateral for Securities Loaned (Liability)	$	—	$	(9,631,465	)	$	—	$	(9,631,465	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-96

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—92.9% of Net Assets

Security Description	Principal Amount*		Value
Advertising—0.9%
AppLovin Corp. Term Loan B, 5.794%, 1M LIBOR + 3.750%, 08/15/25		4,031,155	$	4,034,513
J.D. Power & Associates 1st Lien Term Loan, 5.794%, 1M LIBOR + 3.750%, 09/07/23		947,776		950,146
Red Ventures LLC Term Loan B, 5.044%, 1M LIBOR + 3.000%, 11/08/24		1,329,716		1,336,988
Vestcom Parent Holdings, Inc. 1st Lien Term Loan, 6.044%, 1M LIBOR + 4.000%, 12/19/23		954,240		899,371
				7,221,018
Aerospace/Defense—1.4%
Flying Fortress, Inc. Term Loan B, 3.854%, 3M LIBOR + 1.750%, 10/30/22		2,001,389		2,009,787
TransDigm, Inc.
Term Loan F, 4.544%, 1M LIBOR + 2.500%, 06/09/23		4,940,381		4,937,679
Term Loan G, 4.544%, 1M LIBOR + 2.500%, 08/22/24		1,675,780		1,672,113
Wesco Aircraft Hardware Corp. Term Loan A, 5.050%, 1M LIBOR + 3.000%, 11/30/20		1,317,500		1,317,500
WP CPP Holdings LLC Term Loan, 6.010%, 3M LIBOR + 3.750%, 04/30/25		644,435		646,247
				10,583,326
Auto Components—1.0%
American Axle & Manufacturing, Inc. Term Loan B, 4.322%, 3M LIBOR + 2.250%, 04/06/24		2,396,554		2,353,323
CS Intermediate Holdco 2 LLC Term Loan B, 4.044%, 1M LIBOR + 2.000%, 11/02/23		1,274,169		1,226,388
Dayco Products LLC Term Loan B, 6.374%, 3M LIBOR + 4.250%, 05/19/23		977,500		887,081
Tenneco, Inc. Term Loan B, 5.044%, 1M LIBOR + 3.000%, 10/01/25		3,300,063		3,109,279
				7,576,071
Auto Parts & Equipment—1.5%
Adient U.S. LLC Term Loan B, 6.781%, 3M LIBOR + 4.250%, 05/06/24		623,438		615,385
Belron Finance U.S. LLC Term Loan B, 4.459%, 3M LIBOR + 2.250%, 11/07/24		515,813		518,056
DexKo Global, Inc. Term Loan, 5.544%, 1M LIBOR + 3.500%, 07/24/24		1,763,853		1,746,215
Garrett LX III S.a r.l. Term Loan B, 4.600%, 3M LIBOR + 2.500%, 09/27/25		247,500		245,953
Goodyear Tire & Rubber Co. (The) 2nd Lien Term Loan, 4.060%, 1M LIBOR + 2.000%, 03/07/25		2,433,333		2,400,634
L&W, Inc. Term Loan B, 6.044%, 1M LIBOR + 4.000%, 05/22/25		740,625		718,406
Panther BF Aggregator 2 L.P. Term Loan B, 5.544%, 1M LIBOR + 3.500%, 04/30/26		4,175,000		4,152,384
TI Group Automotive Systems LLC Term Loan, 4.544%, 1M LIBOR + 2.500%, 06/30/22		1,270,254		1,264,491
				11,661,524
Automobiles—0.1%
Thor Industries, Inc.
Term Loan B, 5.875%, 1M LIBOR + 3.750%, 02/01/26		981,875		959,782
Banks—0.0%
AI Alpine AT Bidco GmbH Term Loan B, 4.805%, 3M LIBOR + 2.750%, 10/31/25		198,500		194,282
Beverages—0.3%
Arterra Wines Canada, Inc. Term Loan B1, 4.914%, 3M LIBOR + 2.750%, 12/15/23		320,063		320,263
Flavors Holdings, Inc. 1st Lien Term Loan, 7.854%, 3M LIBOR + 5.750%, 04/03/20		578,857		535,443
Jacobs Douwe Egberts International B.V. Term Loan B, 4.125%, 1M LIBOR + 2.000%, 11/01/25		1,353,959		1,359,867
				2,215,573
Building Materials—1.5%
APi Group DE, Inc. Term Loan B, 10/01/26 (b)		1,300,000		1,306,500
CPG International, Inc. Term Loan, 5.933%, 3M LIBOR + 3.750%, 05/05/24		1,900,109		1,897,733
Henry Co. LLC Term Loan B, 6.044%, 1M LIBOR + 4.000%, 10/05/23		389,982		390,795
NCI Building Systems, Inc. Term Loan, 5.789%, 1M LIBOR + 3.750%, 04/12/25		692,982		679,412
Polar US Borrower, LLC 1st Lien Term Loan, 7.058%, 3M LIBOR + 4.750%, 10/15/25		968,311		942,869
Quikrete Holdings, Inc. 1st Lien Term Loan, 4.794%, 1M LIBOR + 2.750%, 11/15/23		4,311,043		4,298,020
Summit Materials Cos. I LLC Term Loan B, 4.044%, 1M LIBOR + 2.000%, 11/21/24		1,572,000		1,576,912
Tank Holding Corp. Term Loan B, 6.516%, 3M LIBOR + 4.000%, 03/26/26		425,000		426,416
				11,518,657
Building Products—0.0%
Advanced Drainage Systems, Inc. Term Loan B, 09/19/26 (b)		300,000		301,688
Capital Markets—1.0%
Donnelley Financial Solutions, Inc. Term Loan B, 5.039%, 1M LIBOR + 3.000%, 10/02/23		108,750		108,886
EIG Management Co. LLC Term Loan B, 5.794%, 1M LIBOR + 3.750%, 02/22/25		246,250		247,173
Greenhill & Co., Inc. Term Loan B, 5.278%, 1M LIBOR + 3.250%, 04/12/24		999,375		993,129
Guggenheim Partners LLC Term Loan, 4.794%, 1M LIBOR + 2.750%, 07/21/23		5,191,521		5,137,009
Sheridan Investment Partners II L.P.
Term Loan B, 4.250%, 3M LIBOR + 3.500%, 12/16/20		792,949		416,298
Term Loan M, 4.250%, 3M LIBOR + 3.500%, 12/16/20		36,114		18,960
DIP New Money Term Loan, 9.057%, 1M LIBOR + 7.000%, 03/17/20 (c) (d) (e)		85,053		85,095
Virtus Investment Partners, Inc. Term Loan, 4.339%, 1M LIBOR + 2.250%, 06/01/24		535,457		537,689
				7,544,239

BHFTI-97

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Chemicals—5.0%
Alpha 3 B.V. Term Loan B1, 5.104%, 3M LIBOR + 3.000%, 01/31/24		1,603,097	$	1,585,463
Aruba Investments, Inc. Term Loan B, 5.354%, 3M LIBOR + 3.250%, 02/02/22		288,679		287,597
Axalta Coating Systems U.S. Holdings, Inc. Term Loan B3, 3.854%, 3M LIBOR + 1.750%, 06/01/24		3,273,648		3,280,041
Clearwater Paper Corp. Term Loan B, 5.313%, 1M LIBOR + 3.250%, 07/26/26		300,000		301,875
Emerald Performance Materials LLC 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 08/01/21		471,566		472,057
Ferro Corp.
Term Loan B1, 4.354%, 3M LIBOR + 2.250%, 02/14/24		390,060		390,852
Term Loan B2, 4.354%, 3M LIBOR + 2.250%, 02/14/24		311,122		311,754
Term Loan B3, 4.354%, 3M LIBOR + 2.250%, 02/14/24		304,503		305,121
Flint Group GmbH Term Loan C, 5.283%, 3M LIBOR + 3.000%, 09/07/21		134,767		114,440
Flint Group U.S. LLC 1st Lien Term Loan B2, 5.283%, 3M LIBOR + 3.000%, 09/07/21		815,232		692,269
Gemini HDPE LLC Term Loan B, 4.756%, 3M LIBOR + 2.500%, 08/07/24		1,780,442		1,782,668
GrafTech Finance, Inc. Term Loan B, 5.544%, 1M LIBOR + 3.500%, 02/12/25		2,459,514		2,399,052
HB Fuller Co. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 10/20/24		1,603,256		1,599,678
Hexion Inc USD Exit Term Loan, 5.820%, 3M LIBOR + 3.500%, 07/01/26		1,670,812		1,670,812
INEOS Enterprises Holdings U.S. Finco LLC USD Term Loan B, 6.124%, 3M LIBOR + 4.000%, 07/25/26		225,000		226,125
Ineos U.S. Finance LLC Term Loan B, 4.044%, 2M LIBOR + 2.000%, 03/31/24		3,070,313		3,049,204
Invictus U.S. LLC 1st Lien Term Loan, 5.146%, 2M LIBOR + 3.000%, 03/28/25		242,876		231,795
Kraton Polymers LLC Term Loan, 4.544%, 1M LIBOR + 2.500%, 03/05/25		843,338		843,127
LTI Holdings, Inc.
1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 09/06/25		1,239,485		1,175,961
Term Loan, 6.794%, 1M LIBOR + 4.750%, 07/24/26		175,000		171,063
Messer Industries GmbH Term Loan, 4.604%, 3M LIBOR + 2.500%, 03/01/26		1,916,622		1,914,425
Minerals Technologies, Inc. Term Loan B, 4.315%, 1M LIBOR + 2.250%, 02/14/24		896,314		900,049
Momentive Performance Materials, Inc. Term Loan B, 5.300%, 1M LIBOR + 3.250%,, 05/15/24		2,394,000		2,381,283
Orion Engineered Carbons GmbH Term Loan B, 4.104%, 3M LIBOR + 2.000%, 07/25/24		453,110		449,145
Platform Specialty Products Corp. Term Loan, 4.294%, 1M LIBOR + 2.250%, 01/30/26		595,500		598,292
Spectrum Holdings III Corp. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 01/31/25		537,810		475,962
Starfruit Finco B.V Term Loan B, 5.292%, 1M LIBOR + 3.250%, 10/01/25		3,110,622		3,053,268
Tata Chemicals North America, Inc. Term Loan B, 4.875%, 3M LIBOR + 2.750%, 08/07/20		840,404		841,455
Chemicals—(Continued)
Tronox Finance LLC Term Loan B, 4.817%, 1M LIBOR + 2.750%, 09/23/24		2,876,977		2,880,213
Univar, Inc. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 07/01/24		2,638,384		2,649,455
Venator Materials Corp.
Term Loan B, 5.044%, 1M LIBOR + 3.000%, 08/08/24		833,000		820,505
Versum Materials, Inc. Term Loan, 4.104%, 3M LIBOR + 2.000%, 09/29/23		582,000		583,212
				38,438,218
Coal—0.1%
Murray Energy Corp. Term Loan B2, 9.354%, 3M LIBOR + 7.250%, 10/17/22 (h)		1,868,647		742,787
Commercial Services—3.9%
Acosta Holdco, Inc. Term Loan, 7.250%, 1M LIBOR + 2.250%, 09/26/21		1,449,399		465,257
Albany Molecular Research, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 08/30/24		661,500		651,578
Allied Universal Holdco LLC
Delayed Draw Term Loan, 2.125%, 3M LIBOR + 4.250%, 07/10/26 (c)		231,982		232,610
Term Loan B, 6.507%, 6M LIBOR + 4.250%, 07/10/26		2,343,018		2,349,363
ASGN, Inc. Term Loan B2, 4.044%, 1M LIBOR + 2.000%, 04/02/25		454,775		456,717
BidFair MergerRight Inc Term Loan B, 01/23/27 (b)		600,000		594,750
Ceridian HCM Holding Inc. Term Loan B, 5.046%, 1M LIBOR + 3.000%, 04/30/25		1,361,250		1,366,567
EAB Global, Inc. 1st Lien Term Loan, 6.381%, 3M LIBOR + 3.750%, 11/15/24		1,403,625		1,389,589
Ensemble RCM, LLC Term Loan, 6.003%, 3M LIBOR + 3.750%, 08/03/26		450,000		451,125
Financial & Risk U.S. Holdings, Inc. Term Loan, 5.794%, 1M LIBOR + 3.750%, 10/01/25		1,042,125		1,049,046
Garda World Security Corp. Term Loan, 5.637%, 3M LIBOR + 3.500%, 05/24/24		1,820,894		1,823,853
Hertz Corp. (The) Term Loan B, 4.800%, 1M LIBOR + 2.750%, 06/30/23		971,188		972,199
IPC Corp. Term Loan B, 6.760%, 3M LIBOR + 4.500%, 08/06/21		880,630		735,326
Jaguar Holding Co. II Term Loan, 4.544%, 1M LIBOR + 2.500%,, 08/18/22		5,526,836		5,538,580
KAR Auction Services, Inc. Term Loan B6, 4.313%, 1M LIBOR + 2.250%, 09/13/26		550,000		554,297
Live Nation Entertainment, Inc. Term Loan B3, 3.688%, 1M LIBOR + 1.750%, 10/31/23		1,578,136		1,586,685
Monitronics International, Inc. Takeback Term Loan, 8.604%, 3M LIBOR + 6.500%, 03/29/24		1,308,110		1,214,362
Parexel International Corp. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 09/27/24		2,185,791		2,081,966
Ping Identity Corp. Term Loan B, 5.794%, 1M LIBOR + 3.750%, 01/24/25		269,523		269,523

BHFTI-98

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
Pre-Paid Legal Services, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 05/01/25		424,917	$	425,005
Prime Security Services Borrower LLC Term Loan B1, 5.210%, 1W LIBOR + 3.250%, 09/23/26		2,582,314		2,556,029
Prometric Holdings, Inc. 1st Lien Term Loan, 5.050%, 1M LIBOR + 3.000%, 01/29/25		270,889		267,503
Restaurant Technologies, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 10/01/25		198,500		198,872
ServiceMaster Co. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 11/08/23		298,390		300,628
SGS Cayman L.P.
Term Loan B, 7.479%, 3M LIBOR + 5.375%, 04/23/21		192,836		191,309
United Rentals North America, Inc. Term Loan B, 3.794%, 1M LIBOR + 1.750%, 10/31/25		816,750		821,600
Verscend Holding Corp. Term Loan B, 6.544%, 1M LIBOR + 4.500%, 08/27/25		1,410,750		1,417,510
				29,961,849
Commercial Services & Supplies—0.5%
IRI Holdings, Inc. 1st Lien Term Loan, 6.624%, 3M LIBOR + 4.500%, 12/01/25		3,027,125		2,916,130
LSC Communications, Inc. Term Loan B, 7.445%, 1W LIBOR + 5.500%, 09/30/22		728,500		613,761
				3,529,891
Communications Equipment—0.2%
Plantronics, Inc. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 07/02/25		1,146,813		1,146,455
Vungle, Inc. Term Loan B, 09/19/26 (b)		600,000		594,750
				1,741,205
Computers—1.7%
Avast Software B.V. Term Loan B, 4.354%, 3M LIBOR + 2.250%, 09/30/23		675,361		680,057
Exact Merger Sub LLC 1st Lien Term Loan, 6.354%, 3M LIBOR + 4.250%, 09/27/24		713,500		712,385
Harland Clarke Holdings Corp. Term Loan B7, 6.854%, 3M LIBOR + 4.750%, 11/03/23		881,187		695,508
Lumentum Holdings 1st Lien Term Loan, 4.544%, 1M LIBOR + 2.500%, 12/10/25		545,875		548,604
MTS Systems Corp. Term Loan B, 5.310%, 1M LIBOR + 3.250%, 07/05/23		490,876		492,104
SkillSoft Corp. 1st Lien Term Loan, 6.946%, 6M LIBOR + 4.750%, 04/28/21		3,833,766		3,102,157
Tempo Acquisition LLC Term Loan, 5.044%, 1M LIBOR + 3.000%, 05/01/24		1,803,886		1,811,553
Verifone Systems, Inc. 1st Lien Term Loan, 6.136%, 3M LIBOR + 4.000%, 08/20/25		2,834,100		2,717,194
Western Digital Corp. Term Loan B4, 3.862%, 3M LIBOR + 1.750%, 04/29/23		2,169,972		2,168,803
				12,928,365
Construction Materials—0.1%
Belfor Holdings Inc. Term Loan B, 6.044%, 1M LIBOR + 4.000%, 04/06/26		448,875		451,681
Distribution/Wholesale—0.1%
Beacon Roofing Supply, Inc. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 01/02/25		541,750		541,227
IAA, Inc. Term Loan B, 4.313%, 1M LIBOR + 2.250%, 06/28/26		517,125		521,637
Wastequip LLC 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 03/20/25		123,125		122,509
				1,185,373
Distributors—0.4%
American Builders & Contractors Supply Co., Inc.
Term Loan B, 4.044%, 1M LIBOR + 2.000%, 10/31/23		3,417,400		3,419,747
PFS Holding Corp. 1st Lien Term Loan, 5.540%, 1M LIBOR + 3.500%, 01/31/21		236,250		92,138
				3,511,885
Diversified Consumer Services—0.5%
Adtalem Global Education, Inc. Term Loan B, 5.044%, 1M LIBOR + 3.000%, 04/11/25		370,313		371,817
Coinamatic Canada, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 05/14/22		109,540		108,239
KUEHG Corp. Incremental Term Loan, 5.854%, 3M LIBOR + 3.750%, 02/21/25		2,427,104		2,427,711
WASH Multifamily Laundry Systems LLC 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 05/14/22		675,112		667,095
				3,574,862
Diversified Financial Services—4.0%
AlixPartners LLP Term Loan B, 4.794%, 1M LIBOR + 2.750%, 04/04/24		3,101,145		3,108,622
Aptean, Inc. Term Loan, 6.354%, 3M LIBOR + 4.250%, 04/23/26		497,500		496,256
Aretec Group, Inc. Term Loan, 6.294%, 1M LIBOR + 4.250%, 10/01/25		3,709,904		3,589,332
Blackstone CQP Holdco L.P. Term Loan B, 5.656%, 3M LIBOR + 3.500%, 09/30/24		872,813		878,131
Citco Funding LLC Term Loan, 4.544%, 1M LIBOR + 2.500%, 09/28/23		2,994,424		2,996,296
Clipper Acquisitions Corp. Term Loan B, 3.817%, 1M LIBOR + 1.750%, 12/27/24		1,105,313		1,105,313
Delos Finance S.a.r.l. Term Loan B, 3.854%, 3M LIBOR + 1.750%, 10/06/23		2,229,167		2,239,617
Ditech Holding Corp. Term Loan, 6M LIBOR + 0.000%, 06/30/22		2,747,915		1,110,158
Focus Financial Partners LLC Incremental Term Loan, 4.544%, 1M LIBOR + 2.500%, 07/03/24		2,626,102		2,641,147
Franklin Square Holdings L.P. Term Loan B, 4.563%, 1M LIBOR + 2.500%, 08/01/25		495,000		497,475
GreenSky Holdings LLC Term Loan B, 5.313%, 1M LIBOR + 3.250%, 03/31/25		1,305,125		1,303,494

BHFTI-99

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
GTCR Valor Cos., Inc. Term Loan B1, 4.854%, 3M LIBOR + 2.750%, 06/16/23		1,352,703	$	1,353,041
Harbourvest Partners LLC Term Loan B, 4.278%, 1M LIBOR + 2.250%, 03/01/25		958,929		963,125
Lightstone Holdco LLC
Term Loan B, 5.794%, 1M LIBOR + 3.750%, 01/30/24		1,184,214		1,136,845
Term Loan C, 5.794%, 1M LIBOR + 3.750%, 01/30/24		66,792		64,120
LPL Holdings, Inc. 1st Lien Term Loan B, 4.304%, 1M LIBOR + 2.250%, 09/23/24		1,295,254		1,303,753
NFP Corp. Term Loan B, 5.044%, 1M LIBOR + 3.000%, 01/08/24		2,985,324		2,937,932
Oz Management L.P. 1st Lien Term Loan, 6.813%, 1M LIBOR + 4.750%, 04/10/23		125,000		125,000
PGX Holdings, Inc. 1st Lien Term Loan, 7.300%, 1M LIBOR + 5.250%, 09/29/20		1,381,110		1,242,999
Victory Capital Holdings, Inc.
Term Loan B, 5.569%, 3M LIBOR + 3.250%, 07/01/26		1,178,409		1,185,221
Walker & Dunlop, Inc. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 11/07/25		694,750		697,572
				30,975,449
Electric—1.7%
Calpine Construction Finance Co. L.P. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 01/15/25		1,239,739		1,242,451
Calpine Corp.
Term Loan B5, 4.610%, 3M LIBOR + 2.500%, 01/15/24		4,052,673		4,072,937
Term Loan B9, 4.860%, 3M LIBOR + 2.750%, 04/05/26		798,000		801,657
Granite Acquisition, Inc.
Term Loan B, 5.604%, 3M LIBOR + 3.500%, 12/19/21		2,382,321		2,391,894
Term Loan C, 5.604%, 3M LIBOR + 3.500%, 12/19/21		108,162		108,597
Longview Power LLC Term Loan B, 8.260%, 3M LIBOR + 6.000%, 04/13/21		1,220,813		980,719
Pike Corp. Term Loan B, 5.300%, 1M LIBOR + 3.250%, 07/19/26		439,853		442,052
Talen Energy Supply, LLC Term Loan B, 5.792%, 1M LIBOR + 3.750%, 07/08/26		675,000		674,139
TTM Technologies, Inc. Term Loan, 4.600%, 1M LIBOR + 2.500%, 09/28/24		276,204		276,852
UGI Energy Services, LLC Term Loan B, 5.794%, 1M LIBOR + 3.750%, 08/13/26		922,688		930,761
Vistra Energy Corp. 1st Lien Term Loan B3, 4.036%, 1M LIBOR + 2.000%, 12/31/25		927,500		931,268
				12,853,327
Electrical Components & Equipment—0.2%
Electro Rent Corp. 1st Lien Term Loan, 7.283%, 3M LIBOR + 5.000%, 01/31/24		1,167,000		1,172,835
Pelican Products, Inc. 1st Lien Term Loan, 5.539%, 1M LIBOR + 3.500%, 05/01/25		567,813		545,810
				1,718,645
Electronics—0.7%
Celestica, Inc. Term Loan B, 4.554%, 1M LIBOR + 2.500%, 06/27/25		297,750		293,656
Electronics—(Continued)
EIG Investors Corp. 1st Lien Term Loan, 5.882%, 3M LIBOR + 3.750%, 02/09/23		3,715,752		3,647,241
EXC Holdings III Corp. 1st Lien Term Loan, 5.604%, 3M LIBOR + 3.500%, 12/02/24		442,125		443,772
Global Appliance, Inc. Term Loan B, 6.050%, 1M LIBOR + 4.000%, 09/29/24		879,141		876,943
Resideo Funding, Inc. Term Loan B, 4.110%, 3M LIBOR + 2.000%, 10/24/25		347,375		348,678
				5,610,290
Energy Equipment & Services—0.2%
EnergySolutions LLC Term Loan B, 5.854%, 3M LIBOR + 3.750%, 05/09/25		1,110,938		1,033,172
Prairie ECI Acquiror LP Term Loan B, 6.854%, 3M LIBOR + 4.750%, 03/11/26		746,250		733,191
				1,766,363
Engineering & Construction—0.2%
1199169 B.C. Unlimited Liability Co.
Term Loan B2, 6.104%, 3M LIBOR + 4.000%, 04/06/26		253,497		255,081
Dynasty Acquisition Co., Inc. Term Loan B1, 6.104%, 3M LIBOR + 4.000%, 04/06/26		471,504		474,450
FrontDoor, Inc. Term Loan B, 4.563%, 1M LIBOR + 2.500%, 08/16/25		420,750		423,369
USIC Holdings, Inc. Term Loan B, 5.294%, 1M LIBOR + 3.250%, 12/08/23		172,428		171,351
				1,324,251
Entertainment—1.4%
Diamond Sports Group, LLC Term Loan, 5.300%, 1M LIBOR + 3.250%, 08/24/26		2,675,000		2,692,973
NASCAR Holdings, Inc. Term Loan B, 07/27/26 (b)		675,000		680,642
SeaWorld Parks & Entertainment, Inc. Term Loan B5, 5.044%, 1M LIBOR + 3.000%, 03/31/24		2,319,910		2,321,346
SMG Holdings, Inc. 1st Lien Term Loan, 5.044%, 1M LIBOR + 3.000%, 01/23/25		221,625		220,933
Stars Group Holdings B.V. (The) Incremental Term Loan, 5.604%, 3M LIBOR + 3.500%, 07/10/25		5,175,852		5,202,927
				11,118,821
Environmental Control—1.0%
Advanced Disposal Services, Inc. Term Loan B3, 4.197%, 1W LIBOR + 2.250%, 11/10/23		3,256,329		3,268,947
Core & Main L.P. Term Loan B, 4.863%, 1M LIBOR + 2.750%, 08/01/24		986,615		981,669
GFL Environmental Inc. Term Loan B, 5.044%, 1M LIBOR + 3.000%, 05/30/25		2,222,490		2,205,822
Robertshaw U.S. Holding Corp. 1st Lien Term Loan, 5.313%, 1M LIBOR + 3.250%, 02/28/25		1,087,222		997,526
US Ecology, Inc. Term Loan B, 08/14/26 (b)		225,000		226,617
				7,680,581

BHFTI-100

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Food—2.8%
Agro Merchants NAI Holdings LLC 1st Lien Term Loan B, 5.854%, 3M LIBOR + 3.750%, 12/06/24		344,045	$	345,765
Albertsons LLC Term Loan B8, 4.794%, 1M LIBOR + 2.750%, 08/17/26		3,245,803		3,269,539
Albertsons, LLC Term Loan B7, 4.794%, 1M LIBOR + 2.750%, 11/17/25		868,456		874,902
Aramark Services, Inc. Term Loan B3, 3.794%, 1M LIBOR + 1.750%, 03/11/25		816,080		819,140
B&G Foods, Inc. Term Loan B, 09/17/26 (b)		250,000		251,406
CHG PPC Parent LLC Term Loan B, 4.794%, 1M LIBOR + 2.750%, 03/31/25		444,375		444,931
CM Acquisition Co. Takeback Term Loan, 12.104%, 3M LIBOR + 10.000%, 07/26/23		259,109		261,700
Del Monte Foods, Inc. 1st Lien Term Loan, 5.399%, 3M LIBOR + 3.250%, 02/18/21		1,444,687		1,090,738
Dole Food Co., Inc. Term Loan B, 4.795%, 1M LIBOR + 2.750%, 04/06/24		2,506,873		2,478,984
Hearthside Food Solutions LLC
Incremental Term Loan, 6.044%, 1M LIBOR + 4.000%, 05/23/25		397,000		378,143
Term Loan B, 5.731%, 1M LIBOR + 3.687%, 05/23/25		666,563		628,790
High Liner Foods, Inc. Term Loan B, 5.514%, 3M LIBOR + 3.250%, 04/24/21		749,781		747,907
JBS USA Lux S.A. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 05/01/26		3,905,375		3,929,378
Nomad Foods Europe Midco, Ltd. Term Loan B4, 4.278%, 1M LIBOR + 2.250%, 05/15/24		1,732,895		1,735,061
NPC International, Inc. 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 04/19/24		1,539,563		998,791
Post Holdings, Inc. Incremental Term Loan, 4.040%, 1M LIBOR + 2.000%, 05/24/24		937,483		941,218
U.S. Foods, Inc.
Term Loan B, 4.044%, 1M LIBOR + 2.000%, 06/27/23		763,168		766,586
Term Loan B, 4.050%, 1M LIBOR + 2.000%, 09/13/26		1,475,000		1,482,720
				21,445,699
Hand/Machine Tools—0.6%
Apex Tool Group, LLC Term Loan B, 7.544%, 1M LIBOR + 5.500%, 08/01/24		2,247,738		2,188,735
Milacron LLC Term Loan B, 4.544%, 1M LIBOR + 2.500%, 09/28/23		2,177,851		2,180,519
				4,369,254
Health Care Technology—0.4%
Athenahealth, Inc. Term Loan B, 6.681%, 3M LIBOR + 4.500%, 02/11/26		1,666,625		1,660,028
Inovalon Holdings, Inc. Term Loan B, 5.563%, 1M LIBOR + 3.500%, 04/02/25		1,138,500		1,146,505
				2,806,533
Healthcare-Products—2.5%
Avantor, Inc. 1st Lien Term Loan, 5.044%, 1M LIBOR + 3.000%, 11/21/24		827,048		833,768
Carestream Dental Equipment, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 09/01/24		1,325,456		1,293,148
CHG Healthcare Services, Inc. 1st Lien Term Loan B, 5.044%, 1M LIBOR + 3.000%, 06/07/23		3,063,609		3,063,226
CryoLife, Inc. Term Loan B, 5.354%, 3M LIBOR + 3.250%, 11/14/24		466,688		469,604
Greatbatch, Ltd. 1st Lien Term Loan B, 5.050%, 1M LIBOR + 3.000%, 10/27/22		1,981,813		1,993,787
Hanger, Inc. 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 03/06/25		1,009,625		1,013,726
Kinetic Concepts, Inc. Term Loan B, 7.250%, PRIME + 2.250%, 02/02/24		3,683,488		3,696,726
Mallinckrodt International Finance S.A.
Term Loan B, 4.854%, 3M LIBOR + 2.750%, 09/24/24		3,823,285		2,923,219
Term Loan B, 5.175%, 3M LIBOR + 3.000%, 02/24/25		554,931		418,511
Sotera Health Holdings LLC Term Loan, 5.044%, 1M LIBOR + 3.000%, 05/15/22		2,324,269		2,300,302
Tecomet, Inc. Term Loan, 5.278%, 1M LIBOR + 3.250%, 05/01/24		1,328,556		1,323,298
Viant Medical Holdings, Inc. 1st Lien Term Loan, 5.854%, 3M LIBOR + 3.750%, 07/02/25		445,500		417,099
				19,746,414
Healthcare-Services—4.4%
Acadia Healthcare Co., Inc.
Term Loan B3, 4.544%, 1M LIBOR + 2.500%, 02/11/22		704,643		706,492
Term Loan B4, 4.544%, 02/16/23		1,423,740		1,427,744
Accelerated Health Systems LLC Term Loan B, 5.542%, 1M LIBOR + 3.500%, 10/31/25		496,250		497,491
ADMI Corp. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 04/30/25		1,580,000		1,567,162
Alliance Healthcare Services, Inc. Term Loan B, 6.544%, 1M LIBOR + 4.500%, 10/24/23		741,094		704,039
BioClinica, Inc. 1st Lien Term Loan, 6.438%, 2M LIBOR + 4.250%, 10/20/23		632,125		609,211
BW NHHC Holdco, Inc. 1st Lien Term Loan, 7.054%, 1M LIBOR + 5.000%, 05/15/25		913,438		780,989
Catalent Pharma Solutions, Inc. Term Loan B2, 4.294%, 1M LIBOR + 2.250%, 05/18/26		721,375		724,681
Concentra, Inc. 1st Lien Term Loan, 4.540%, 3M LIBOR + 2.500%, 06/01/22		829,043		833,188
CPI Holdco LLC 1st Lien Term Loan, 5.535%, 6M LIBOR + 3.500%, 03/21/24		757,170		757,170
DaVita, Inc. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 08/12/26		800,000		805,389
Envision Healthcare Corp. 1st Lien Term Loan, 5.794%, 1M LIBOR + 3.750%, 10/10/25		4,218,125		3,451,831
Gentiva Health Services, Inc. 1st Lien Term Loan, 5.813%, 1M LIBOR + 3.750%, 07/02/25		2,211,005		2,226,179
GHX Ultimate Parent Corp. 1st Lien Term Loan, 5.354%, 3M LIBOR + 3.250%, 06/28/24		1,077,472		1,070,737

BHFTI-101

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
MPH Acquisition Holdings LLC Term Loan B, 4.854%, 3M LIBOR + 2.750%, 06/07/23		2,422,371	$	2,312,354
National Mentor Holdings, Inc.
Term Loan B, 6.300%, 1M LIBOR + 4.250%, 03/09/26		374,725		375,974
Term Loan C, 6.300%, 1M LIBOR + 4.250%, 03/09/26		23,392		23,470
One Call Corp. Term Loan B, 7.408%, 3M LIBOR + 5.250%, 11/25/22		1,110,211		899,271
Ortho-Clinical Diagnostics S.A. Term Loan B, 5.563%, 3M LIBOR + 3.250%, 06/30/25		3,151,809		3,057,255
Phoenix Guarantor, Inc. Term Loan B, 6.567%, 1M LIBOR + 4.500%, 03/05/26		1,645,875		1,651,534
Radiology Partners Holdings, LLC 1st Lien Term Loan B, 7.194%, 3M LIBOR + 4.750%, 07/09/25		471,616		466,605
RadNet, Inc. Term Loan, 5.830%, 3M LIBOR + 3.500%, 06/30/23		2,116,445		2,095,280
Select Medical Corp. Term Loan B, 4.580%, 3M LIBOR + 2.500%, 03/06/25		2,011,144		2,014,285
Surgery Center Holdings, Inc. Term Loan B, 5.300%, 1M LIBOR + 3.250%, 09/02/24		906,500		888,370
Team Health Holdings, Inc. 1st Lien Term Loan, 4.794%, 1M LIBOR + 2.750%, 02/06/24		1,901,250		1,574,868
U.S. Anesthesia Partners, Inc. Term Loan, 5.044%, 1M LIBOR + 3.000%, 06/23/24		1,656,017		1,622,380
Universal Health Services, Inc. Term Loan B, 3.794%, 1M LIBOR + 1.750%, 10/31/25		397,000		399,729
Wink Holdco, Inc. 1st Lien Term Loan B, 5.044%, 1M LIBOR + 3.000%, 12/02/24		417,563		411,429
				33,955,107
Hotels, Restaurants & Leisure—0.2%
Aimbridge Acquisition Co., Inc. 1st Lien Term Loan, 5.817%, 1M LIBOR + 3.750%, 02/02/26		223,875		223,875
Eldorado Resorts LLC
Term Loan B, 4.313%, 3M LIBOR + 2.250%, 04/17/24		718,573		718,417
GVC Holdings plc Term Loan B2, 4.446%, 6M LIBOR + 2.250%, 03/29/24		1,009,625		1,012,464
				1,954,756
Household Products—0.1%
Energizer Holdings, Inc. Term Loan B, 4.375%, 1M LIBOR + 2.250%, 12/17/25		491,250		492,165
Household Products/Wares—0.7%
CFSP Acquisition Corp. 1st Lien Term Loan, 5.044%, 1M LIBOR + 3.000%, 03/20/25		246,602		235,813
KIK Custom Products, Inc. Term Loan B, 6.256%, 3M LIBOR + 4.000%, 05/15/23		1,752,096		1,665,038
Libbey Glass, Inc. Term Loan B, 5.042%, 1M LIBOR + 3.000%, 04/09/21		385,466		299,700
Prestige Brands, Inc. Term Loan B4, 4.044%, 1M LIBOR + 2.000%, 01/26/24		393,588		394,768
Household Products/Wares—(Continued)
Spin Holdco, Inc. Term Loan B, 5.572%, 3M LIBOR + 3.250%, 11/14/22		3,269,580		3,214,916
				5,810,235
Industrial Conglomerates—0.3%
IG Investment Holdings LLC 1st Lien Term Loan, 6.044%, 1M LIBOR + 4.000%, 05/23/25		2,704,151		2,696,263
Insurance—3.8%
Alliant Holdings Intermediate, LLC
Term Loan B, 5.054%, 1M LIBOR + 3.000%, 05/09/25		2,309,752		2,272,459
Term Loan B, 5.289%, 1M LIBOR + 3.250%, 05/09/25		399,000		396,631
AmWINS Group, Inc. Term Loan B, 4.796%, 1M LIBOR + 2.750%, 01/25/24		4,413,843		4,421,201
Asurion LLC
2nd Lien Term Loan, 8.544%, 1M LIBOR + 6.500%, 08/04/25		2,350,000		2,390,145
Term Loan B4, 5.044%, 1M LIBOR + 3.000%, 08/04/22		3,991,725		4,007,691
Term Loan B6, 5.044%, 1M LIBOR + 3.000%, 11/03/23		2,679,291		2,692,409
Camelot UK Holdco, Ltd. Term Loan, 5.294%, 1M LIBOR + 3.250%, 10/03/23		3,086,305		3,108,971
Hub International, Ltd. Term Loan B, 5.267%, 3M LIBOR + 3.000%, 04/25/25		4,517,813		4,474,044
Sedgwick Claims Management Services, Inc. Term Loan B, 5.294%, 1M LIBOR + 3.250%, 12/31/25		1,091,750		1,076,192
UFC Holdings LLC Term Loan, 5.300%, 1M LIBOR + 3.250%, 04/29/26		2,113,783		2,123,912
USI, Inc. Term Loan, 5.104%, 3M LIBOR + 3.000%, 05/16/24		2,646,000		2,604,106
				29,567,761
Internet—2.8%
Ancestry.com Operations Inc. Extended Term Loan B, 6.300%, 1M LIBOR + 4.250%, 08/27/26		3,366,563		3,348,326
Ascend Learning LLC Term Loan B, 5.044%, 1M LIBOR + 3.000%, 07/12/24		1,372,000		1,368,784
Getty Images, Inc. 1st Lien Term Loan, 6.563%, 1M LIBOR + 4.500%, 02/19/26		1,441,619		1,437,114
Go Daddy Operating Co. LLC Term Loan, 4.044%, 1M LIBOR + 2.000%, 02/15/24		3,772,954		3,783,696
Hoya Midco LLC
1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 06/30/24		949,640		938,363
Match Group, Inc. Term Loan B, 4.659%, 2M LIBOR + 2.500%, 11/16/22		481,250		483,656
SurveyMonkey, Inc. Term Loan B, 5.680%, 1W LIBOR + 3.750%, 10/10/25		1,161,600		1,152,888
Tibco Software, Inc. Term Loan B, 6.070%, 1M LIBOR + 4.000%,, 06/30/26		3,272,021		3,281,202
Uber Technologies
Incremental Term Loan, 5.554%, 1M LIBOR + 3.500%, 07/13/23		4,344,406		4,318,609
Term Loan, 6.028%, 1M LIBOR + 4.000%, 04/04/25		1,407,188		1,402,349
				21,514,987

BHFTI-102

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Internet Software & Services—0.1%
Sutherland Global Services, Inc. Term Loan B, 7.479%, 3M LIBOR + 5.375%, 04/23/21		828,414	$	821,855
Investment Company Securities—0.3%
Fortress Investment Group LLC Term Loan B, 4.044%, 1M LIBOR + 2.000%, 12/27/22		808,341		811,751
LSF9 Atlantis Holdings LLC Term Loan, 8.042%, 1M LIBOR + 6.000%, 05/01/23		1,243,924		1,163,069
				1,974,820
Iron/Steel—0.2%
Phoenix Services International LLC Term Loan, 5.778%, 1M LIBOR + 3.750%, 03/01/25		1,330,984		1,294,382
IT Services—0.1%
Blackhawk Network Holdings, Inc. 1st Lien Term Loan, 5.044%, 1M LIBOR + 3.000%, 06/15/25		740,625		739,390
Leisure Products—0.8%
Bombardier Recreational Products, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 05/23/25		4,241,930		4,241,047
Sabre GLBL, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 02/22/24		914,914		919,632
Steinway Musical Instruments, Inc. Term Loan B, 5.778%, 1M LIBOR + 3.750%, 02/14/25		812,625		807,546
				5,968,225
Leisure Time—0.9%
Aristocrat Technologies, Inc. 1st Lien Term Loan, 4.028%, 3M LIBOR + 1.750%, 10/19/24		963,667		968,108
ClubCorp Holdings, Inc. Term Loan B, 4.854%, 3M LIBOR + 2.750%, 09/18/24		1,664,756		1,488,708
Delta 2 (LUX) S.a.r.l. Term Loan, 4.544%, 1M LIBOR + 2.500%, 02/01/24		2,243,230		2,220,784
Hayward Industries, Inc. 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 08/05/24		416,500		403,875
SRAM LLC Term Loan B, 4.830%, 1M LIBOR + 2.750%, 03/15/24		995,340		999,048
Travel Leaders Group LLC Term Loan B, 6.046%, 1M LIBOR + 4.000%, 01/25/24		864,063		865,143
				6,945,666
Life Sciences Tools & Services—0.1%
Syneos Health, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 08/01/24		776,778		777,628
Lodging—1.8%
Boyd Gaming Corp. Term Loan B3, 4.166%, 1WK LIBOR + 2.250%, 09/15/23		815,928		819,553
CityCenter Holdings LLC Term Loan B, 4.294%, 1M LIBOR + 2.250%, 04/18/24		2,325,071		2,333,374
Crown Finance U.S., Inc.
Term Loan, 4.294%, 1M LIBOR + 2.250%, 02/28/25		1,598,194		1,590,003
Incremental Term Loan, 1M LIBOR + 2.750%, 09/20/26 (b)		1,300,000		1,297,075
Lodging—(Continued)
Cypress Intermediate Holdings III, Inc. 1st Lien Term Loan, 4.800%, 1M LIBOR + 2.750%, 04/26/24		2,194,886		2,189,399
Four Seasons Hotels, Ltd. 1st Lien Term Loan, 4.044%, 1M LIBOR + 2.000%, 11/30/23		875,250		880,408
MGM Growth Properties Operating Partnership L.P. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 03/21/25		1,833,500		1,840,090
Playa Resorts Holding B.V. Term Loan B, 4.790%, 1M LIBOR + 2.750%, 04/29/24		2,277,232		2,220,301
Wyndham Hotels & Resorts, Inc. Term Loan B, 3.794%, 1M LIBOR + 1.750%, 05/30/25		1,188,000		1,195,178
				14,365,381
Machinery—0.3%
Altra Industrial Motion Corp. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 10/01/25		642,537		642,934
CPM Holdings, Inc. 1st Lien Term Loan, 5.794%, 1M LIBOR + 3.750%, 11/15/25		297,750		293,470
Delachaux S.A. Term Loan B, 6.822%, 3M LIBOR + 4.500%, 03/28/26		400,000		398,750
Dynacast International LLC Term Loan B2, 5.354%, 3M LIBOR + 3.250%, 01/28/22		1,180,831		1,136,549
				2,471,703
Machinery-Construction & Mining—0.5%
Brookfield WEC Holdings, Inc. 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 08/01/25		4,074,225		4,091,031
Machinery-Diversified—1.4%
Clark Equipment Co. Term Loan B, 4.104%, 3M LIBOR + 2.000%, 05/18/24		1,123,920		1,127,784
Engineered Machinery Holdings, Inc.
1st Lien Term Loan, 5.354%, 3M LIBOR + 3.250%, 07/19/24		1,154,438		1,135,196
Incremental Term Loan, 6.354%, 3M LIBOR + 4.250%, 07/19/24		272,938		272,596
EWT Holdings III Corp. Term Loan, 5.044%, 1M LIBOR + 3.000%, 12/20/24		3,842,986		3,862,201
Gardner Denver, Inc. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 07/30/24		883,934		887,603
Pro Mach Group, Inc. Term Loan B, 4.807%, 1M LIBOR + 2.750%, 03/07/25		221,625		216,140
Shape Technologies Group, Inc. Term Loan, 5.259%, 3M LIBOR + 3.000%, 04/21/25		222,188		204,413
Titan Acquisition, Ltd. Term Loan B, 5.044%, 1M LIBOR + 3.000%,, 03/28/25		2,733,375		2,624,040
Welbilt, Inc. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 10/23/25		794,103		794,589
				11,124,562
Marine—0.2%
Stena International S.a.r.l. Term Loan B, 5.110%, 3M LIBOR + 3.000%, 03/03/21		1,606,500		1,589,097
Media—4.7%
ALM Media Holdings, Inc. 1st Lien Term Loan, 6.604%, 3M LIBOR + 4.500%, 07/31/20		370,728		344,777

BHFTI-103

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
AMC Entertainment Holdings, Inc. Term Loan B, 5.230%, 6M LIBOR + 3.000%, 04/22/26		1,616,875	$	1,625,970
Charter Communications Operating LLC Term Loan B, 4.050%, 1M LIBOR + 2.000%, 04/30/25		1,887,619		1,901,025
CSC Holdings LLC
Incremental Term Loan, 4.278%, 1M LIBOR + 2.250%, 01/15/26		945,250		946,137
Term Loan B, 4.528%, 1M LIBOR + 2.500%, 01/25/26		1,185,000		1,188,327
Cumulus Media New Holdings Inc. Term Loan B, 03/17/26 (b)		475,000		476,880
E.W. Scripps Co.(The) Incremental Term Loan B1, 4.794%, 1M LIBOR + 2.750%, 05/01/26		273,625		274,275
Entercom Media Corp. Term Loan B, 4.804%, 1M LIBOR + 2.750%, 11/18/24		1,273,461		1,276,167
Entravision Communications Corp. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 11/29/24		833,667		812,825
Global Eagle Entertainment, Inc. 1st Lien Term Loan, 9.709%, 3M LIBOR + 7.500%, 01/06/23		1,051,875		974,738
Gray Television, Inc.
Term Loan B, 4.582%, 1M LIBOR + 2.250%, 02/07/24		1,470,015		1,473,953
Term Loan C, 4.832%, 3M LIBOR + 2.500%, 01/02/26		645,125		648,523
Hubbard Radio LLC Term Loan B, 5.550%, 1M LIBOR + 3.500%, 03/28/25		571,655		572,012
iHeartCommunications, Inc. Exit Term Loan, 6.100%, 1M LIBOR + 4.000%, 05/01/26		1,151,206		1,160,199
Midcontinent Communications Term Loan B, 4.278%, 1M LIBOR + 2.250%, 08/15/26		775,000		781,136
Mission Broadcasting, Inc. Term Loan B3, 4.350%, 1M LIBOR + 2.250%, 01/17/24		307,964		308,574
Nexstar Broadcasting, Inc.
Term Loan B3, 4.294%, 1M LIBOR + 2.250%, 01/17/24		1,545,950		1,549,009
Term Loan B4, 4.807%, 1M LIBOR + 2.250%, 06/19/26		450,000		452,766
Numericable Group S.A. Term Loan B11, 4.794%, 1M LIBOR + 2.750%, 07/31/25		1,759,500		1,721,671
ProQuest LLC Term Loan B, 5.294%, 1M LIBOR + 3.250%, 10/24/21		1,606,582		1,609,594
Sinclair Television Group, Inc.
Term Loan B2B, 4.540%, 1M LIBOR + 2.500%, 09/30/26		550,000		553,266
Term Loan B2, 4.300%, 1M LIBOR + 2.250%, 01/03/24		2,076,153		2,085,859
Univision Communications, Inc. Term Loan C5, 4.794%, 1M LIBOR + 2.750%, 03/15/24		7,081,504		6,894,347
Ziggo Secured Finance Partnership Term Loan E, 4.528%, 1M LIBOR + 2.500%, 04/15/25		6,475,000		6,470,953
				36,102,983
Metal Fabricate/Hardware—1.3%
Ameriforge Group, Inc. Term Loan, 9.104%, 3M LIBOR + 7.000%, 06/08/22		751,114		751,114
Atkore International, Inc. 1st Lien Term Loan, 4.860%, 3M LIBOR + 2.750%, 12/22/23		1,273,520		1,277,765
Penn Engineering & Manufacturing Corp. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 06/27/24		223,140		219,793
Rexnord LLC Term Loan B, 4.044%, 1M LIBOR + 2.000%, 08/21/24		2,654,282		2,672,899
Metal Fabricate/Hardware—(Continued)
WireCo WorldGroup, Inc. 1st Lien Term Loan, 7.044%, 1M LIBOR + 5.000%, 09/30/23		557,750		547,292
Zekelman Industries, Inc. Term Loan B, 4.304%, 1M LIBOR + 2.250%, 06/14/21		4,761,724		4,767,676
				10,236,539
Mining—0.1%
Neenah Foundry Co. Term Loan, 8.619%, 2M LIBOR + 6.500%, 12/13/22		661,517		641,672
Noranda Aluminum Acquisition Corp. Term Loan B, 6M LIBOR + 0.000%, 02/28/20		430,320		25,819
PMHC II, Inc. 1st Lien Term Loan, 5.604%, 3M LIBOR + 3.500%, 03/31/25		344,750		279,247
				946,738
Miscellaneous Manufacturing—1.0%
CTC AcquiCo GmbH Term Loan B2, 4.874%, 3M LIBOR + 2.750%, 03/07/25		1,050,529		1,026,892
Filtration Group Corp. 1st Lien Term Loan, 5.044%, 1M LIBOR + 3.000%, 03/29/25		1,445,391		1,450,661
Gates Global LLC Term Loan B, 4.794%, 1M LIBOR + 2.750%, 04/01/24		3,779,647		3,732,402
Werner FinCo L.P. Term Loan, 6.044%, 1M LIBOR + 4.000%, 07/24/24		1,372,921		1,342,030
				7,551,985
Office/Business Equipment—0.1%
Brand Energy & Infrastructure Services, Inc. Term Loan, 6.514%, 3M LIBOR + 4.250%, 06/21/24		987,474		966,491
Oil & Gas—1.4%
Apro LLC Term Loan B, 6.040%, 1M LIBOR + 4.000%, 08/08/24		240,417		240,717
CITGO Holding, Inc. Term Loan B, 9.044%, 1M LIBOR + 7.000%, 07/24/23		225,000		229,922
Citgo Petroleum Corp.
Term Loan B, 6.604%, 3M LIBOR + 4.500%, 07/29/21		2,354,821		2,366,596
Term Loan B, 7.104%, 3M LIBOR + 5.000%, 03/28/24		2,189,000		2,202,681
Delek U.S. Holdings, Inc. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 03/31/25		518,873		518,873
Emerald Expositions Holding, Inc. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 05/22/24		1,012,759		987,440
Fieldwood Energy LLC 1st Lien TL, 7.506%, 3M LIBOR + 5.250%, 04/11/22		1,276,437		1,109,702
Oxbow Carbon LLC 1st Lien Term Loan B, 5.794%, 1M LIBOR + 3.750%, 01/04/23		570,313		570,313
PSC Industrial Holdings Corp.
1st Lien Term Loan, 5.778%, 1M LIBOR + 3.750%, 10/03/24		1,645,688		1,642,602
Sheridan Production Partners I LLC
Term Loan B2, 5.560%, 3M LIBOR + 3.500%, 10/01/19		1,032,663		805,477
Term Loan B2 I-A, 5.560%, 1M LIBOR + 3.500%, 10/01/19		136,836		106,390
Term Loan B2 I-M, 5.560%, 3M LIBOR + 3.500%, 10/01/19		83,580		64,984
				10,845,697

BHFTI-104

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas Services—0.2%
Apergy Corp. 1st Lien Term Loan, 4.563%, 3M LIBOR + 2.500%, 05/09/25		231,024	$	231,696
McDermott Technology Americas, Inc. 1st Lien Term Loan, 7.104%, 1M LIBOR + 5.000%, 05/09/25		1,631,484		1,043,243
Thermon Industries, Inc. Term Loan B, 5.850%, 1M LIBOR + 3.750%, 10/24/24		273,350		274,033
				1,548,972
Packaging & Containers—2.4%
Berlin Packaging LLC 1st Lien Term Loan, 5.101%, 1M LIBOR + 3.000%, 11/07/25		222,188		218,676
Berry Global, Inc.
Term Loan Q, 4.299%, 1M LIBOR + 2.250%, 10/01/22		768,591		772,877
Term Loan U, 4.549%, 1M LIBOR + 2.500%, 07/01/26		847,875		852,933
BWAY Holding Co. Term Loan B, 5.590%, 3M LIBOR + 3.250%, 04/03/24		1,906,125		1,869,989
Consolidated Container Co. LLC 1st Lien Term Loan, 4.794%, 1M LIBOR + 2.750%, 05/22/24		857,538		854,501
Flex Acquisition Co., Inc.
1st Lien Term Loan, 5.319%, 3M LIBOR + 3.000%, 12/29/23		4,518,855		4,354,237
Incremental Term Loan, 5.569%, 3M LIBOR + 3.250%, 06/29/25		1,321,000		1,274,765
Pregis TopCo Corp. 1st Lien Term Loan, 6.253%, 3M LIBOR + 4.000%, 07/31/26		575,000		574,281
Reynolds Group Holdings, Inc. Term Loan, 4.794%, 1M LIBOR + 2.750%, 02/05/23		4,987,179		5,000,814
Ring Container Technologies Group LLC 1st Lien Term Loan, 4.794%, 1M LIBOR + 2.750%, 10/31/24		730,488		725,618
Trident TPI Holdings, Inc. Term Loan B1, 5.294%, 1M LIBOR + 3.250%, 10/17/24		1,892,913		1,832,183
				18,330,874
Pharmaceuticals—3.5%
Akorn, Inc. Term Loan B, 4.531%, PIK + 0.750%, 04/16/21		914,075		845,520
Alkermes, Inc. Term Loan B, 4.410%, 1M LIBOR + 2.250%, 03/23/23		350,860		351,298
Amneal Pharmaceuticals LLC Term Loan B, 5.563%, 1M LIBOR + 3.500%, 05/04/25		3,033,301		2,606,112
Arbor Pharmaceuticals, Inc. Term Loan B, 7.104%, 3M LIBOR + 5.000%, 07/05/23		1,913,660		1,765,352
Change Healthcare Holdings LLC Term Loan B, 4.544%, 1M LIBOR + 2.500%, 03/01/24		5,715,829		5,695,732
Diplomat Pharmacy, Inc. Term Loan B, 6.550%, 1M LIBOR + 4.500%, 12/20/24		438,625		411,576
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.313%, 1M LIBOR + 4.250%, 04/29/24		4,899,357		4,468,213
Grifols Worldwide Operations USA, Inc. Term Loan, 4.197%, 1W LIBOR + 2.250%, 01/31/25		3,168,750		3,188,060
HLF Financing S.a r.l.
Term Loan B, 5.294%, 1M LIBOR + 3.250%, 08/18/25		965,250		968,094
Horizon Pharma, Inc. Term Loan B, 4.625%, 1M LIBOR + 2.500%, 05/22/26		988,299		993,240
Pharmaceuticals—(Continued)
Valeant Pharmaceuticals International, Inc. Term Loan B, 5.039%, 1M LIBOR + 3.000%, 06/02/25		5,849,396		5,879,690
				27,172,887
Pipelines—0.0%
Centurion Pipeline Company LLC Term Loan B, 5.294%, 1M LIBOR + 3.250%, 09/29/25		223,313		223,871
Professional Services—0.4%
Realogy Group LLC Term Loan B, 4.296%, 1M LIBOR + 2.250%, 02/08/25		1,768,057		1,685,720
Trans Union LLC Term Loan B3, 4.044%, 1M LIBOR + 2.000%, 04/10/23		1,212,069		1,217,561
				2,903,281
Real Estate—0.8%
DTZ U.S. Borrower LLC Term Loan B, 5.294%, 1M LIBOR + 3.250%, 08/21/25		4,478,199		4,497,769
RE/MAX International, Inc. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 12/15/23		1,866,815		1,862,148
				6,359,917
Real Estate Investment Trusts—0.9%
Apollo Commercial Real Estate Finance, Inc Term Loan B, 4.778%, 1M LIBOR + 2.750%, 05/15/26		399,000		398,491
Blackstone Mortgage Trust, Inc. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 04/23/26		349,125		351,085
Brookfield Property REIT, Inc. 1st Lien Term Loan B, 4.544%, 1M LIBOR + 2.500%, 08/27/25		891,000		879,227
Claros Mortgage Trust, Inc. Term Loan B, 5.292%, 1M LIBOR + 3.250%, 08/10/26		675,000		675,827
ESH Hospitality, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 06/12/26		1,295,072		1,302,626
Iron Mountain, Inc. Term Loan B, 3.794%, 1M LIBOR + 1.750%, 01/02/26		812,625		807,038
Starwood Property Trust, Inc. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 07/27/26		450,000		451,676
VICI Properties 1 LLC Term Loan B, 4.046%, 1M LIBOR + 2.000%, 12/20/24		2,052,273		2,060,254
				6,926,224
Retail—3.9%
1011778 B.C. Unlimited Liability Co. Term Loan B3, 4.294%, 1M LIBOR + 2.250%, 02/16/24		6,333,371		6,361,713
Alphabet Holding Co., Inc. 1st Lien Term Loan, 5.544%, 1M LIBOR + 3.500%, 09/26/24		2,205,000		2,047,206
Ascena Retail Group, Inc. Term Loan B, 6.563%, 1M LIBOR + 4.500%, 08/21/22		2,191,371		1,233,742
Bass Pro Group LLC Term Loan B, 7.044%, 1M LIBOR + 5.000%, 09/25/24		1,200,500		1,158,670
BJ’s Wholesale Club, Inc. 1st Lien Term Loan, 4.786%, 1M LIBOR + 2.750%, 02/03/24		2,708,158		2,719,082

BHFTI-105

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Retail—(Continued)
David’s Bridal, Inc.
Term Loan, 9.610%, 3M LIBOR + 7.500%, 07/17/23 (h)		204,207	$	176,128
Term Loan, 10.110%, 3M LIBOR + 8.000%, 01/18/24 (h)		775,953		368,578
Dhanani Group Inc. Term Loan B, 5.794%, 1M LIBOR + 3.750%, 07/20/25		468,314		430,849
Golden Nugget, Inc. Incremental Term Loan B, 4.800%, 1M LIBOR + 2.750%, 10/04/23		4,497,944		4,496,069
IRB Holding Corp. 1st Lien Term Loan, 5.550%, 3M LIBOR + 3.250%, 02/05/25		3,208,415		3,197,721
J. Crew Group, Inc. Term Loan B, 5.099%, 1M LIBOR + 3.000%, 03/05/21 (d) (e) (h)		3,061,541		2,395,349
PetSmart, Inc. Term Loan B2, 6.040%, 1M LIBOR + 4.000%, 03/11/22		2,813,063		2,747,426
Pier 1 Imports (U.S.), Inc. Term Loan B, 5.700%, 3M LIBOR + 3.500%, 04/30/21		1,454,508		399,990
Serta Simmons Bedding LLC 1st Lien Term Loan, 5.543%, 1M LIBOR + 3.500%, 11/08/23		4,143,750		2,565,673
				30,298,196
Semiconductors—0.7%
Bright Bidco B.V. Term Loan B, 5.585%, 3M LIBOR + 3.500%, 06/30/24		1,882,834		903,760
Cabot Microelectronics Corp. Term Loan B, 4.313%, 1M LIBOR + 2.250%, 11/14/25		673,952		677,603
Cohu, Inc. Term Loan B, 5.200%, 6M LIBOR + 3.000%, 10/01/25		693,000		658,350
Entegris, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 11/06/25		372,188		374,979
MACOM Technology Solutions Holdings, Inc. Term Loan, 4.294%, 1M LIBOR + 2.250%, 05/17/24		1,132,878		1,033,751
Microchip Technology, Inc. Term Loan B, 4.050%, 1M LIBOR + 2.000%, 05/29/25		488,658		491,708
MKS Instruments, Inc. Term Loan B6, 3.794%, 1M LIBOR + 1.750%, 02/02/26		282,739		283,505
Ultra Clean Holdings, Inc Term Loan B, 6.544%, 1M LIBOR + 4.500%, 08/27/25		745,446		730,538
				5,154,194
Software—9.5%
Almonde, Inc. 1st Lien Term Loan, 5.696%, 1M LIBOR + 3.500%, 06/13/24		2,304,340		2,246,319
Applied Systems, Inc. 1st Lien Term Loan, 5.104%, 3M LIBOR + 3.000%, 09/19/24		4,698,830		4,698,412
Barracuda Networks, Inc. 1st Lien Term Loan, 5.398%, 3M LIBOR + 3.250%, 02/12/25		843,106		844,898
BMC Software Finance, Inc. Term Loan B, 6.294%, 1M LIBOR + 4.250%, 10/02/25		2,630,125		2,537,042
Bracket Intermediate Holding Corp. 1st Lien Term Loan B, 6.292%, 1M LIBOR + 4.250%, 09/05/25		816,750		815,219
DigiCert, Inc. Term Loan B1, 6.044%, 1M LIBOR + 4.000%, 10/31/24		4,158,260		4,162,593
Software—(Continued)
Epicor Software Corp. 1st Lien Term Loan, 5.300%, 1M LIBOR + 3.250%, 06/01/22		4,177,191		4,182,847
Flexera Software LLC 1st Lien Term Loan, 5.550%, 1M LIBOR + 3.500%, 02/26/25		1,238,755		1,242,884
GlobalLogic Holdings, Inc. 1st Lien Term Loan, 5.294%, 1M LIBOR + 3.250%, 08/01/25		1,384,787		1,391,711
Hyland Software, Inc.
Term Loan 3, 5.294%, 1M LIBOR + 3.250%, 07/01/24		6,665,906		6,673,645
Infoblox, Inc. 1st Lien Term Loan, 6.544%, 1M LIBOR + 4.500%, 11/07/23		1,506,503		1,514,977
Infor (U.S.), Inc. Term Loan B6, 4.854%, 3M LIBOR + 2.750%, 02/01/22		7,599,916		7,617,966
Informatica LLC Term Loan, 5.294%, 1W LIBOR + 3.250%, 08/05/22		4,497,689		4,521,581
IQVIA, Inc.
Term Loan B, 4.104%, 3M LIBOR + 2.000%, 03/07/24		811,768		815,996
Term Loan B2, 4.104%, 3M LIBOR + 2.000%, 01/17/25		1,029,000		1,033,824
Kronos, Inc. Term Loan B, 5.253%, 3M LIBOR + 3.000%, 11/01/23		5,424,487		5,441,016
MA FinanceCo. LLC
Term Loan B2, 4.294%, 1M LIBOR + 2.250%, 11/19/21		1,771,942		1,773,028
Term Loan B3, 4.544%, 1M LIBOR + 2.500%, 06/21/24		437,788		433,410
Marcel LUX IV SARL Term Loan B1, 5.294%, 1M LIBOR + 3.250%, 03/15/26		997,500		986,278
Navicure, Inc.
1st Lien Term Loan B, 5.794%, 1M LIBOR + 3.750%, 11/01/24		737,616		738,077
Term Loan B, 09/18/26 (b)		850,000		850,265
Renaissance Holding Corp. 1st Lien Term Loan, 5.294%, 3M LIBOR + 3.250%,, 05/30/25		610,938		601,264
Seattle Spinco, Inc. Term Loan B3, 4.544%, 1M LIBOR + 2.500%, 06/21/24		2,956,491		2,925,693
SolarWinds Holdings, Inc. Term Loan B, 4.794%, 1M LIBOR + 2.750%, 02/05/24		3,603,461		3,611,969
Solera LLC Term Loan B, 4.794%, 1M LIBOR + 2.750%, 03/03/23		1,758,612		1,752,566
Sound Inpatient Physicians 1st Lien Term Loan, 4.794%, 1M LIBOR + 2.750%, 06/27/25		419,688		417,851
SS&C Technologies Holdings Europe S.a.r.l. Term Loan B4, 4.294%, 1M LIBOR + 2.250%,, 04/16/25		1,105,483		1,111,471
SS&C Technologies, Inc. Term Loan B3, 4.294%, 1M LIBOR + 2.250%,, 04/16/25		1,673,647		1,682,713
TriTech Software Systems Term Loan B, 5.794%, 1M LIBOR + 3.750%, 08/29/25		794,000		746,360
Ultimate Software Group, Inc. (The) Term Loan B, 5.794%, 1M LIBOR + 3.750%,, 05/04/26		1,475,000		1,484,403
Veritas Bermuda, Ltd. Term Loan B, 6.554%, 1M LIBOR + 4.500%,, 01/27/23		2,153,717		2,039,749
Vero Parent, Inc. Term Loan B, 6.544%, 1M LIBOR + 4.500%, 08/16/24		1,372,140		1,366,994
Wall Street Systems Delaware, Inc. Term Loan B, 5.044%, 1M LIBOR + 3.000%, 11/21/24		1,565,278		1,561,365
				73,824,386

BHFTI-106

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Technology Hardware, Storage & Peripherals—0.2%
Carbonite, Inc Term Loan B, 6.006%, 1M LIBOR + 3.750%, 03/26/26		374,773	$	375,632
Datto, Inc. Term Loan B, 6.294%, 1M LIBOR + 4.250%, 04/02/26		324,188		327,565
Mirion Technologies, Inc. Term Loan B, 6.104%, 3M LIBOR + 4.000%, 03/06/26		348,312		349,945
NCR Corp.
Delayed Draw Term Loan, 0.500%, 3M LIBOR + 0.500% , 08/08/26 (c)		440,000		441,100
Term Loan, 4.550%, 1M LIBOR + 2.500%, 08/08/26		385,000		385,962
				1,880,204
Telecommunications—5.4%
CenturyLink, Inc. Term Loan B, 4.794%, 1M LIBOR + 2.750%,, 01/31/25		4,765,125		4,738,817
Colorado Buyer, Inc. Term Loan B, 5.040%, 1M LIBOR + 3.000%, 05/01/24		1,490,688		1,350,004
CommScope, Inc. Term Loan B, 5.294%, 1M LIBOR + 3.250%, 04/06/26		1,550,000		1,547,404
CPI International, Inc. 1st Lien Term Loan, 5.554%, 1M LIBOR + 3.500%, 07/26/24		612,500		602,802
CSC Holdings LLC 1st Lien Term Loan, 4.278%, 1M LIBOR + 2.250%, 07/17/25		2,405,566		2,406,757
Digicel International Finance, Ltd. Term Loan B, 5.340%, 6M LIBOR + 3.250%, 05/28/24		1,494,506		1,300,221
Frontier Communications Corp. Term Loan B1, 5.800%, 1M LIBOR + 3.750%, 06/15/24		1,783,938		1,784,494
Intelsat Jackson Holdings S.A. Term Loan B4, 6.554%, 1M LIBOR + 4.500%, 01/02/24		1,600,000		1,625,501
Level 3 Financing, Inc. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 02/22/24		2,550,000		2,557,438
MCC Iowa LLC Term Loan M, 3.930%, 1W LIBOR + 2.000%, 01/15/25		891,433		898,396
Onvoy LLC 1st Lien Term Loan B, 6.544%, 1M LIBOR + 4.500%, 02/10/24		853,614		719,170
Radiate Holdco LLC 1st Lien Term Loan, 5.044%, 1M LIBOR + 3.000%, 02/01/24		1,763,289		1,758,551
Sprint Communications, Inc.
1st Lien Term Loan B, 4.563%, 1M LIBOR + 2.500%, 02/02/24		4,208,582		4,183,330
Term Loan B, 5.063%, 1M LIBOR + 3.000%, 02/02/24		694,750		694,310
Switch, Ltd. Term Loan B, 4.294%, 1M LIBOR + 2.250%, 06/27/24		219,938		220,762
Syniverse Holdings, Inc. 1st Lien Term Loan, 7.028%, 3M LIBOR + 5.000%, 03/09/23		935,750		882,236
Telenet Financing USD LLC Term Loan AN, 4.278%, 1M LIBOR + 2.250%, 08/15/26		2,375,000		2,379,947
Telesat Canada Term Loan B4, 4.610%, 3M LIBOR + 2.500%, 11/17/23		4,292,547		4,310,434
Virgin Media Bristol LLC Term Loan K, 4.528%, 1M LIBOR + 2.500%, 01/15/26		6,450,000		6,459,069
West Corp.
Term Loan, 6.044%, 1M LIBOR + 4.000%, 10/10/24		1,624,087		1,450,851
Telecommunications—(Continued)
West Corp.
Term Loan B1, 5.544%, 1M LIBOR + 3.500%, 10/10/24		296,250		263,045
				42,133,539
Thrifts & Mortgage Finance—0.0%
Ocwen Financial Corp. Term Loan B, 7.044%, 1M LIBOR + 5.000%, 12/04/20		245,079		241,709
Trading Companies & Distributors—0.1%
DXP Enterprises, Inc. Term Loan B, 6.794%, 1M LIBOR + 4.750%, 08/29/23		465,500		469,573
Transportation—0.6%
Hanjin International Corp. Term Loan B, 4.554%, 1M LIBOR + 2.500%, 10/18/20		475,000		476,188
Kenan Advantage Group, Inc.
Term Loan, 5.044%, 1M LIBOR + 3.000%, 07/31/22		563,765		540,979
Term Loan B, 5.044%, 1M LIBOR + 3.000%, 07/31/22		172,542		165,568
PODS LLC 1st Lien Term Loan, 5.053%, 1M LIBOR + 2.750%, 12/06/24		588,003		587,758
PQ Corp. Term Loan B, 4.756%, 3M LIBOR + 2.500%, 02/08/25		2,435,034		2,442,427
XPO Logistics, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 02/24/25		575,000		578,514
				4,791,434
Trucking & Leasing—0.8%
Avolon TLB Borrower 1 (U.S.) LLC Term Loan B3, 3.794%, 1M LIBOR + 1.750%, 01/15/25		3,719,250		3,739,706
IBC Capital Ltd. 1st Lien Term Loan, 5.895%, 3M LIBOR + 3.750%, 09/11/23		541,750		539,267
SBA Senior Finance II LLC Term Loan B, 4.050%, 1M LIBOR + 2.000%, 04/11/25		1,877,176		1,880,549
				6,159,522
Total Floating Rate Loans (Cost $742,246,505)				720,482,133
Corporate Bonds & Notes—2.4%
Aerospace/Defense—0.4%
TransDigm, Inc. 6.250%, 03/15/26 (144A)		3,000,000		3,221,250
Auto Parts & Equipment—0.2%
Panther BF Aggregator 2 L.P. / Panther Finance Co., Inc. 6.250%, 05/15/26 (144A)		1,350,000		1,420,875
Commercial Services—0.3%
Allied Universal Holding Co. 6.625%, 07/15/26 (144A)		250,000		264,063
Prime Security Services Borrower LLC / Prime Finance, Inc.
5.250%, 04/15/24 (144A)		625,000		641,594
5.750%, 04/15/26 (144A)		1,325,000		1,379,722
				2,285,379

BHFTI-107

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Shares/ Principal Amount*		Value
Electric—0.3%
Calpine Corp. 5.250%, 06/01/26 (144A)		2,000,000	$	2,070,000
Talen Energy Supply LLC 6.625%, 01/15/28 (144A)		425,000		417,562
				2,487,562
Healthcare-Products—0.2%
Avantor, Inc. 6.000%, 10/01/24 (144A)		1,500,000		1,607,295
Media—0.4%
Diamond Sports Group LLC / Diamond Sports Finance Co. 5.375%, 08/15/26 (144A)		550,000		570,625
iHeartCommunications, Inc.
5.250%, 08/15/27 (144A)		200,000		208,000
6.375%, 05/01/26		105,163		113,576
8.375%, 05/01/27		190,609		205,858
Ziggo B.V. 5.500%, 01/15/27 (144A)		2,000,000		2,085,000
				3,183,059
Oil & Gas—0.2%
CITGO Petroleum Corp. 6.250%, 08/15/22 (144A)		1,000,000		1,011,250
Telecommunications—0.4%
Altice France S.A.
5.500%, 01/15/28 (144A)		475,000		480,344
7.375%, 05/01/26 (144A)		500,000		536,730
CommScope. Inc. 6.000%, 03/01/26 (144A)		2,000,000		2,069,600
				3,086,674
Total Corporate Bonds & Notes (Cost $17,884,626)				18,303,344
Common Stocks—0.5%
Advertising—0.0%
CM Acquisition Co. (f) (g)		3,472		260,400
Commercial Services—0.1%
IAP Worldwide Services LLC (d) (e) (f) (h)		44		610,122
Gas Utilities—0.0%
Southcross Holding GP LLC (d) (e) (f)		59		0
Southcross Holding L.P. - Class A (f) (g)		59		28,025
				28,025
Health Care Providers & Services—0.0%
Millennium Health LLC (f) (g)		31,600		2,212
Security Description	Shares/ Principal Amount*		Value
Internet Software & Services—0.0%
Answers Corp. (d) (e) (f)		29,070		58,721
Media—0.1%
Clear Channel Outdoor Holdings, Inc. (f) (g)		43,727		110,192
Cumulus Media, Inc. - Class A (f) (g)		40,548		589,568
iHeartMedia, Inc. - Class A (f) (g)		18,596		278,940
				978,700
Metals & Mining—0.2%
AFG Holdings, Inc. (d) (e) (f) (g)		24,746		1,292,236
Oil & Gas—0.0%
Fieldwood Energy LLC (Rights Offering Shares) (f) (g)		6,048		178,416
Fieldwood Energy LLC (Rights Offering Shares) (f) (g)		1,397		41,212
				219,628
Oil, Gas & Consumable Fuels—0.1%
Paragon Offshore Finance Co. - Class A (f) (g)		1,527		840
Paragon Offshore Finance Co. - Class B (f) (g)		764		15,280
Samson Resources II LLC - Class A (f) (g)		19,666		480,588
				496,708
Retail—0.0%
David’s Bridal, Inc. (f) (g) (h)		15,105		7,553
Total Common Stocks (Cost $3,332,692)				3,954,305
Short-Term Investment—4.0%
Repurchase Agreement—4.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $31,053,318; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $31,677,980.		31,052,628		31,052,628
Total Short-Term Investments (Cost $31,052,628)				31,052,628
Total Investments—99.8% (Cost $794,516,451)				773,792,410
Unfunded Loan Commitments—(0.1)% (Cost $(709,405)				(709,405	)
Net Investments—99.7% (Cost $793,807,046)				773,083,005
Other assets and liabilities (net)—0.3%				1,960,828
Net Assets—100.0%			$	775,043,833

BHFTI-108

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

*	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 generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(b)	This loan will settle after September 30, 2019, at which time the interest rate will be determined.
(c)	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.
(d)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2019, these securities represent 0.6% of net assets.
(f)	Security was acquired in connection with a restructuring of a senior loan and may be subject to restrictions on resale.
(g)	Non-income producing security.
(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 September 30, 2019, the market value of restricted securities was $4,300,517, which is 0.6% of net assets. See details shown in the Restricted Securities 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 September 30, 2019, the market value of 144A securities was $17,983,910, which is 2.3% of net assets.

Restricted Securities	Acquisition Date		Shares/ Principal Amount		Cost		Value
David’s Bridal, Inc.		01/18/19		15,105	$	100,112	$	7,553
David’s Bridal, Inc., 10.110%, 01/18/24		01/18/19		775,953		689,222		368,578
David’s Bridal, Inc., 9.610%, 07/17/23		01/17/19		204,207		200,759		176,128
IAP Worldwide Services LLC		07/18/14-07/24/14		44		52,138		610,122
J. Crew Group, Inc., 5.099%, 03/05/21		02/28/14		3,061,541		3,049,127		2,395,349
Murray Energy Corp., 9.354%, 10/17/22		06/28/19-06/29/19		1,868,647		1,795,899		742,787
							$	4,300,517

Index Abbreviations

(LIBOR)—	London Interbank Offered Rate
(PRIME)—	U.S. Federal Reserve Prime Rate

Other Abbreviations

(REIT)— Real Estate Investment Trust

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Floating Rate Loans
Advertising	$	—	$	7,221,018	$	—	$	7,221,018
Aerospace/Defense		—		10,583,326		—		10,583,326

BHFTI-109

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Auto Components	$	—	$	7,576,071	$	—	$	7,576,071
Auto Parts & Equipment		—		11,661,524		—		11,661,524
Automobiles		—		959,782		—		959,782
Banks		—		194,282		—		194,282
Beverages		—		2,215,573		—		2,215,573
Building Materials		—		11,518,657		—		11,518,657
Building Products		—		301,688		—		301,688
Capital Markets (Less Unfunded Loan Commitments of $37,423)		—		7,459,144		47,672		7,506,816
Chemicals		—		38,438,218		—		38,438,218
Coal		—		742,787		—		742,787
Commercial Services (Less Unfunded Loan Commitments of $231,982)		—		29,729,867		—		29,729,867
Commercial Services & Supplies		—		3,529,891		—		3,529,891
Communications Equipment		—		1,741,205		—		1,741,205
Computers		—		12,928,365		—		12,928,365
Construction Materials		—		451,681		—		451,681
Distribution/Wholesale		—		1,185,373		—		1,185,373
Distributors		—		3,511,885		—		3,511,885
Diversified Consumer Services		—		3,574,862		—		3,574,862
Diversified Financial Services		—		30,975,449		—		30,975,449
Electric		—		12,853,327		—		12,853,327
Electrical Components & Equipment		—		1,718,645		—		1,718,645
Electronics		—		5,610,290		—		5,610,290
Energy Equipment & Services		—		1,766,363		—		1,766,363
Engineering & Construction		—		1,324,251		—		1,324,251
Entertainment		—		11,118,821		—		11,118,821
Environmental Control		—		7,680,581		—		7,680,581
Food		—		21,445,699		—		21,445,699
Hand/Machine Tools		—		4,369,254		—		4,369,254
Health Care Technology		—		2,806,533		—		2,806,533
Healthcare-Products		—		19,746,414		—		19,746,414
Healthcare-Services		—		33,955,107		—		33,955,107
Hotels, Restaurants & Leisure		—		1,954,756		—		1,954,756
Household Products		—		492,165		—		492,165
Household Products/Wares		—		5,810,235		—		5,810,235
Industrial Conglomerates		—		2,696,263		—		2,696,263
Insurance		—		29,567,761		—		29,567,761
Internet		—		21,514,987		—		21,514,987
Internet Software & Services		—		821,855		—		821,855
Investment Company Securities		—		1,974,820		—		1,974,820
Iron/Steel		—		1,294,382		—		1,294,382
IT Services		—		739,390		—		739,390
Leisure Products		—		5,968,225		—		5,968,225
Leisure Time		—		6,945,666		—		6,945,666
Life Sciences Tools & Services		—		777,628		—		777,628
Lodging		—		14,365,381		—		14,365,381
Machinery		—		2,471,703		—		2,471,703
Machinery-Construction & Mining		—		4,091,031		—		4,091,031
Machinery-Diversified		—		11,124,562		—		11,124,562
Marine		—		1,589,097		—		1,589,097
Media		—		36,102,983		—		36,102,983
Metal Fabricate/Hardware		—		10,236,539		—		10,236,539
Mining		—		946,738		—		946,738
Miscellaneous Manufacturing		—		7,551,985		—		7,551,985
Office/Business Equipment		—		966,491		—		966,491
Oil & Gas		—		10,845,697		—		10,845,697
Oil & Gas Services		—		1,548,972		—		1,548,972
Packaging & Containers		—		18,330,874		—		18,330,874
Pharmaceuticals		—		27,172,887		—		27,172,887

BHFTI-110

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Pipelines	$	—	$	223,871	$	—	$	223,871
Professional Services		—		2,903,281		—		2,903,281
Real Estate		—		6,359,917		—		6,359,917
Real Estate Investment Trusts		—		6,926,224		—		6,926,224
Retail		—		27,902,847		2,395,349		30,298,196
Semiconductors		—		5,154,194		—		5,154,194
Software		—		73,824,386		—		73,824,386
Technology Hardware, Storage & Peripherals (Less Unfunded Loan Commitments of $440,000)		—		1,440,204		—		1,440,204
Telecommunications		—		42,133,539		—		42,133,539
Thrifts & Mortgage Finance		—		241,709		—		241,709
Trading Companies & Distributors		—		469,573		—		469,573
Transportation		—		4,791,434		—		4,791,434
Trucking & Leasing		—		6,159,522		—		6,159,522
Total Floating Rate Loans (Less Unfunded Loan Commitments of $709,405)		—		717,329,707		2,443,021		719,772,728
Total Corporate Bonds & Notes*		—		18,303,344		—		18,303,344
Common Stocks
Advertising		—		260,400		—		260,400
Commercial Services		—		—		610,122		610,122
Gas Utilities		—		28,025		0		28,025
Health Care Providers & Services		—		2,212		—		2,212
Internet Software & Services		—		—		58,721		58,721
Media		978,700		—		—		978,700
Metals & Mining		—		—		1,292,236		1,292,236
Oil & Gas		—		219,628		—		219,628
Oil, Gas & Consumable Fuels		—		496,708		—		496,708
Retail		—		7,553		—		7,553
Total Common Stocks		978,700		1,014,526		1,961,079		3,954,305
Total Short-Term Investment*		—		31,052,628		—		31,052,628
Total Net Investments (Less Unfunded Loan Commitments of $709,405)	$	978,700	$	767,700,205	$	4,404,100	$	773,083,005

* 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 September 30, 2019 is not presented.

BHFTI-111

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—27.7% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—16.4%
Fannie Mae 15 Yr. Pool
4.500%, 09/01/24		325,364	$	338,812
4.500%, 03/01/25		813,740		854,474
Fannie Mae ARM Pool
3.665%, 6M LIBOR + 1.415%, 09/01/32 (a)		10,999		11,188
3.682%, 6M LIBOR + 1.135%, 11/01/33 (a)		4,057		4,101
3.793%, 6M LIBOR + 1.208%, 11/01/33 (a)		1,499		1,507
3.809%, 6M LIBOR + 1.152%, 03/01/28 (a)		6,866		6,969
3.836%, 6M LIBOR + 1.405%, 03/01/35 (a)		23,048		23,734
3.978%, 6M LIBOR + 1.413%, 11/01/34 (a)		5,139		5,275
4.014%, 6M LIBOR + 1.434%, 02/01/36 (a)		34,460		35,544
4.021%, 12M LIBOR + 1.521%, 07/01/33 (a)		31,388		32,708
4.038%, 6M LIBOR + 1.570%, 11/01/35 (a)		69,135		71,225
4.040%, 6M LIBOR + 1.415%, 06/01/32 (a)		8,894		8,935
4.050%, 12M LIBOR + 1.720%, 08/01/35 (a)		128,669		135,282
4.056%, 6M LIBOR + 1.435%, 12/01/32 (a)		195,380		205,583
4.065%, 1Y H15 + 2.065%, 12/01/25 (a)		8,513		8,594
4.073%, 6M LIBOR + 1.585%, 03/01/36 (a)		156,433		162,287
4.171%, 6M LIBOR + 1.546%, 12/01/34 (a)		28,178		29,125
4.175%, 1Y H15 + 1.675%, 11/01/32 (a)		10,044		10,399
4.207%, 6M LIBOR + 1.543%, 09/01/35 (a)		11,259		11,606
4.247%, 12M LIBOR + 1.503%, 07/01/33 (a)		35,306		36,970
4.264%, 6M LIBOR + 1.620%, 11/01/32 (a)		23,435		24,471
4.268%, 6M LIBOR + 1.662%, 03/01/37 (a)		5,750		5,983
4.270%, 12M LIBOR + 1.645%, 09/01/39 (a)		2,361		2,452
4.300%, 1Y H15 + 2.300%, 09/01/32 (a)		3,230		3,273
4.305%, 6M LIBOR + 1.665%, 04/01/36 (a)		41,887		43,552
4.310%, 12M LIBOR + 1.691%, 08/01/37 (a)		11,425		12,030
4.311%, 1Y H15 + 2.010%, 06/01/25 (a)		36,745		37,284
4.322%, 12M LIBOR + 1.690%, 11/01/35 (a)		20,329		21,278
4.347%, 12M LIBOR + 1.824%, 09/01/37 (a)		2,771		2,925
4.356%, 6M LIBOR + 2.106%, 09/01/33 (a)		23,999		25,148
4.363%, 1Y H15 + 2.290%, 08/01/32 (a)		44,686		46,373
4.373%, 1Y H15 + 1.998%, 10/01/32 (a)		11,718		12,206
4.373%, 6M LIBOR + 2.123%, 08/01/33 (a)		20,039		21,227
4.383%, 6M LIBOR + 1.758%, 06/01/28 (a)		1,938		2,014
4.399%, 1Y H15 + 1.923%, 08/01/29 (a)		2,950		3,054
4.422%, 12M LIBOR + 1.630%, 05/01/33 (a)		10,691		11,249
4.436%, 1Y H15 + 1.686%, 03/01/33 (a)		941		957
4.441%, 12M LIBOR + 1.577%, 01/01/36 (a)		42,271		44,213
4.494%, 1Y H15 + 1.895%, 02/01/25 (a)		46,755		47,845
4.501%, 12M LIBOR + 1.690%, 11/01/36 (a)		1,409,398		1,479,791
4.520%, 1Y H15 + 2.270%, 09/01/30 (a)		37,069		38,438
4.524%, 1Y H15 + 2.149%, 08/01/33 (a)		45,777		47,768
4.525%, 1Y H15 + 2.275%, 02/01/33 (a)		34,936		35,401
4.545%, 12M LIBOR + 1.420%, 03/01/36 (a)		5,231		5,296
4.550%, 12M LIBOR + 1.550%, 02/01/44 (a)		28,540		29,560
4.557%, 12M LIBOR + 1.792%, 10/01/36 (a)		3,986		4,185
4.559%, 12M LIBOR + 1.684%, 12/01/32 (a)		5,414		5,583
4.567%, 1Y H15 + 2.192%, 09/01/37 (a)		20,334		21,262
4.574%, 12M LIBOR + 1.699%, 10/01/33 (a)		30,662		32,011
4.582%, 12M LIBOR + 1.582%, 03/01/33 (a)		39,583		41,220
4.588%, 1Y H15 + 2.075%, 07/01/33 (a)		26,710		27,706
4.597%, 1Y H15 + 2.270%, 08/01/30 (a)		12,411		12,699
4.598%, 1Y H15 + 2.223%, 07/01/35 (a)		15,900		16,765
4.625%, 12M LIBOR + 1.750%, 04/01/34 (a)		94,808		99,627
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae ARM Pool
4.640%, 12M LIBOR + 1.765%, 11/01/36 (a)		1,088		1,145
4.645%, 1Y H15 + 2.181%, 03/01/30 (a)		813		839
4.650%, 12M LIBOR + 1.775%, 04/01/34 (a)		16,677		16,998
4.655%, 1Y H15 + 2.280%, 07/01/32 (a)		2,473		2,507
4.655%, 12M LIBOR + 1.530%, 02/01/33 (a)		33,411		33,885
4.655%, 12M LIBOR + 1.655%, 08/01/34 (a)		1,089		1,122
4.661%, 1Y H15 + 2.161%, 07/01/33 (a)		22,692		23,250
4.675%, 1Y H15 + 2.175%, 06/01/30 (a)		8,051		8,146
4.690%, 1Y H15 + 2.133%, 04/01/27 (a)		2,788		2,907
4.696%, 1Y H15 + 2.248%, 03/01/38 (a)		17,492		18,385
4.698%, 1Y H15 + 2.198%, 06/01/33 (a)		22,100		22,376
4.702%, 1Y H15 + 2.190%, 11/01/35 (a)		1,793,440		1,887,177
4.708%, 12M LIBOR + 1.833%, 08/01/32 (a)		50,709		51,384
4.710%, 12M LIBOR + 1.585%, 02/01/36 (a)		12,993		13,589
4.713%, 12M LIBOR + 1.713%, 02/01/32 (a)		67,630		68,183
4.716%, 12M LIBOR + 1.591%, 12/01/32 (a)		8,451		8,807
4.726%, 1Y H15 + 2.360%, 11/01/34 (a)		1,882,428		1,995,680
4.732%, 12M LIBOR + 1.709%, 09/01/35 (a)		2,144,061		2,251,412
4.734%, 12M LIBOR + 1.905%, 11/01/35 (a)		479,403		506,535
4.736%, 1Y H15 + 2.152%, 12/01/33 (a)		50,479		53,166
4.751%, 1Y H15 + 2.287%, 01/01/32 (a)		3,679		3,811
4.751%, 12M LIBOR + 1.810%, 04/01/40 (a)		2,666		2,792
4.759%, 1Y H15 + 2.349%, 07/01/28 (a)		4,287		4,443
4.771%, 1Y H15 + 2.333%, 09/01/33 (a)		1,349		1,380
4.775%, 6M LIBOR + 2.275%, 08/01/32 (a)		25,589		26,078
4.778%, 12M LIBOR + 1.778%, 12/01/35 (a)		123,470		127,372
4.807%, 1Y H15 + 2.220%, 09/01/33 (a)		4,972		5,220
4.810%, 12M LIBOR + 1.810%, 04/01/35 (a)		262,064		275,342
4.822%, 1Y H15 + 2.218%, 09/01/36 (a)		720		761
4.823%, 1Y H15 + 2.270%, 01/01/29 (a)		10,184		10,271
4.855%, 1Y H15 + 2.105%, 07/01/25 (a)		144		146
4.863%, 12M LIBOR + 1.814%, 03/01/36 (a)		12,539		13,280
4.875%, 6M LIBOR + 2.250%, 10/01/33 (a)		20,839		21,191
4.875%, 6M LIBOR + 2.250%, 05/01/34 (a)		24,189		24,884
4.885%, 1Y H15 + 2.510%, 08/01/35 (a)		5,811		5,995
4.895%, 1Y H15 + 2.270%, 01/01/32 (a)		9,147		9,240
4.910%, 1Y H15 + 2.285%, 02/01/35 (a)		32,330		34,007
4.940%, 12M LIBOR + 1.815%, 03/01/37 (a)		885		917
4.963%, 12M LIBOR + 1.889%, 03/01/36 (a)		28,965		30,068
5.015%, 1Y H15 + 2.310%, 04/01/36 (a)		3,775		3,974
5.025%, 1Y H15 + 2.525%, 05/01/32 (a)		4,207		4,217
5.025%, 1Y H15 + 2.275%, 06/01/35 (a)		44,104		44,622
Fannie Mae Connecticut Avenue Securities (CMO)
2.668%, 1M LIBOR + 0.650%, 05/25/30 (a)		565,461		565,544
2.668%, 1M LIBOR + 0.650%, 08/25/30 (a)		1,161,682		1,161,654
3.168%, 1M LIBOR + 1.150%, 09/25/29 (a)		424,830		425,492
3.318%, 1M LIBOR + 1.300%, 04/25/29 (a)		1,145,973		1,148,796
4.618%, 1M LIBOR + 2.600%, 05/25/24 (a)		5,498,530		5,733,097
4.918%, 1M LIBOR + 2.900%, 07/25/24 (a)		3,591,804		3,741,445
5.018%, 1M LIBOR + 3.000%, 07/25/24 (a)		6,063,031		6,365,785
5.568%, 1M LIBOR + 3.550%, 07/25/29 (a)		2,980,000		3,131,923
6.018%, 1M LIBOR + 4.000%, 05/25/25 (a)		5,797,512		6,083,431
6.268%, 1M LIBOR + 4.250%, 01/25/29 (a)		1,900,000		2,006,829
6.268%, 1M LIBOR + 4.250%, 04/25/29 (a)		1,330,000		1,421,609
6.318%, 1M LIBOR + 4.300%, 02/25/25 (a)		4,663,853		4,939,942

BHFTI-112

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae Connecticut Avenue Securities (CMO)
6.368%, 1M LIBOR + 4.350%, 05/25/29 (a)		3,575,892	$	3,769,130
6.468%, 1M LIBOR + 4.450%, 01/25/29 (a)		2,805,791		2,953,996
6.568%, 1M LIBOR + 4.550%, 02/25/25 (a)		2,527,127		2,621,422
6.918%, 1M LIBOR + 4.900%, 11/25/24 (a)		4,391,488		4,793,220
7.018%, 1M LIBOR + 5.000%, 11/25/24 (a)		2,225,528		2,379,363
7.018%, 1M LIBOR + 5.000%, 07/25/25 (a)		6,491,097		6,950,717
7.268%, 1M LIBOR + 5.250%, 10/25/23 (a)		3,830,508		4,235,097
8.968%, 1M LIBOR + 6.950%, 08/25/28 (a)		3,249,871		3,516,559
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO)
2.718%, 1M LIBOR + 0.700%, 09/25/30 (a)		1,947,529		1,947,966
3.368%, 1M LIBOR + 1.350%, 03/25/29 (a)		192,211		193,039
3.868%, 1M LIBOR + 1.850%, 10/25/27 (a)		2,547,216		2,563,787
4.218%, 1M LIBOR + 2.200%, 02/25/24 (a)		411,951		416,767
4.218%, 1M LIBOR + 2.200%, 10/25/28 (a)		76,096		76,160
4.268%, 1M LIBOR + 2.250%, 11/25/28 (a)		718,669		721,954
4.368%, 1M LIBOR + 2.350%, 04/25/30 (a)		3,050,000		3,085,460
4.518%, 1M LIBOR + 2.500%, 03/25/30 (a)		2,000,000		2,042,704
4.618%, 1M LIBOR + 2.600%, 12/25/27 (a)		984,345		989,035
4.668%, 1M LIBOR + 2.650%, 03/25/28 (a)		1,095,078		1,099,771
4.768%, 1M LIBOR + 2.750%, 09/25/28 (a)		308,334		309,792
4.818%, 1M LIBOR + 2.800%, 05/25/28 (a)		1,448,171		1,457,587
4.868%, 1M LIBOR + 2.850%, 04/25/28 (a)		1,738,769		1,755,810
5.045%, 1M LIBOR + 2.900%, 07/25/28 (a)		149,422		150,433
5.268%, 1M LIBOR + 3.250%, 05/25/25 (a)		2,780,000		2,918,937
5.318%, 1M LIBOR + 3.300%, 10/25/27 (a)		3,160,000		3,338,672
5.468%, 1M LIBOR + 3.450%, 10/25/29 (a)		3,750,000		3,956,129
5.568%, 1M LIBOR + 3.550%, 08/25/29 (a)		4,250,000		4,462,945
5.618%, 1M LIBOR + 3.600%, 04/25/24 (a)		1,400,000		1,485,081
5.768%, 1M LIBOR + 3.750%, 09/25/24 (a)		4,990,000		5,402,882
5.818%, 1M LIBOR + 3.800%, 03/25/25 (a)		4,349,906		4,475,595
5.918%, 1M LIBOR + 3.900%, 12/25/27 (a)		7,265,000		7,550,826
6.018%, 1M LIBOR + 4.000%, 08/25/24 (a)		313,905		331,695
6.118%, 1M LIBOR + 4.100%, 08/25/24 (a)		3,881,264		4,113,984
6.168%, 1M LIBOR + 4.150%, 01/25/25 (a)		5,088,038		5,277,172
6.568%, 1M LIBOR + 4.550%, 10/25/24 (a)		3,769,455		4,037,301
6.668%, 1M LIBOR + 4.650%, 10/25/28 (a)		4,600,000		4,928,909
6.718%, 1M LIBOR + 4.700%, 03/25/28 (a)		2,250,000		2,401,653
6.768%, 1M LIBOR + 4.750%, 10/25/24 (a)		1,371,668		1,456,231
7.168%, 1M LIBOR + 5.150%, 11/25/28 (a)		2,840,000		3,085,794
7.695%, 1M LIBOR + 5.550%, 07/25/28 (a)		7,750,000		8,586,194
				164,441,984
U.S. Treasury—11.3%
U.S. Treasury Inflation Indexed Notes
0.125%, 04/15/21 (b)		5,845,446		5,782,876
0.125%, 01/15/22 (b)		17,002,950		16,841,470
0.375%, 07/15/23 (b)		10,032,204		10,094,275
1.375%, 01/15/20 (b)		11,425,128		11,390,317
U.S. Treasury Notes
1.125%, 08/31/21		2,000,000		1,979,688
1.750%, 03/31/22		6,000,000		6,022,734
2.000%, 08/31/21 (c)		8,000,000		8,049,375
2.000%, 10/31/21		19,000,000		19,132,852
2.125%, 09/30/21		26,000,000		26,238,672
U.S. Treasury—(Continued)
U.S. Treasury Notes
2.250%, 07/31/21		8,000,000		8,080,312
				113,612,571
Total U.S. Treasury & Government Agencies (Cost $283,406,912)				278,054,555
Corporate Bonds & Notes—26.7%
Agriculture—0.6%
BAT Capital Corp. 2.764%, 08/15/22 (c)		1,400,000		1,413,281
Bunge, Ltd. Finance Corp.
3.500%, 11/24/20		1,300,000		1,314,036
Imperial Brands Finance plc 2.950%, 07/21/20 (144A)		3,100,000		3,111,239
				5,838,556
Banks—10.4%
Akbank T.A.S. 5.125%, 03/31/25 (144A)		700,000		658,238
ANZ New Zealand International, Ltd. 2.850%, 08/06/20 (144A) (c)		4,600,000		4,632,219
Banca Monte dei Paschi di Siena S.p.A. 2.875%, 04/16/59 (EUR)		4,100,000		4,655,279
Bank of America Corp.
3.004%, 3M LIBOR + 0.790%, 12/20/23 (a)		2,155,000		2,200,923
3.550%, 3M LIBOR + 0.780%, 03/05/24 (a)		3,700,000		3,847,843
Bank of New York Mellon Corp. (The) 2.994%, 3M LIBOR + 0.870%, 08/17/20 (a)		3,900,000		3,926,453
BPCE S.A. 2.650%, 02/03/21		1,200,000		1,206,311
Citibank N.A. 3.165%, 3M LIBOR + 0.530%, 02/19/22 (a) (c)		3,000,000		3,040,342
Citigroup, Inc.
2.350%, 08/02/21 (c)		2,100,000		2,109,621
2.400%, 02/18/20		4,600,000		4,604,029
2.900%, 12/08/21		1,000,000		1,015,068
Credit Suisse AG 4.375%, 08/05/20		1,000,000		1,019,620
Deutsche Bank AG 3.446%, 3M LIBOR + 1.310%, 08/20/20 (a) (c)		3,700,000		3,692,549
Dexia Credit Local S.A. 2.375%, 09/20/22 (144A)		2,000,000		2,026,678
Goldman Sachs Group, Inc. (The)
2.625%, 04/25/21		2,100,000		2,112,703
3.319%, 3M LIBOR + 1.200%, 09/15/20 (a)		11,400,000		11,487,881
HSBC Holdings plc
2.950%, 05/25/21		3,000,000		3,030,801
3.400%, 03/08/21		1,500,000		1,522,950
Industrial & Commercial Bank of China, Ltd.
2.957%, 11/08/22		3,800,000		3,826,223
3.231%, 11/13/19		2,700,000		2,701,971
JPMorgan Chase & Co. 2.200%, 10/22/19		4,000,000		4,000,061

BHFTI-113

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Morgan Stanley
2.800%, 06/16/20		2,700,000	$	2,713,634
3.396%, 3M LIBOR + 1.140%, 01/27/20 (a)		7,900,000		7,927,200
Regions Financial Corp. 3.200%, 02/08/21		4,300,000		4,352,957
Royal Bank of Canada 2.100%, 10/14/20		3,700,000		3,702,353
Standard Chartered plc 3.885%, 3M LIBOR + 1.080%, 03/15/24 (144A) (a)		4,100,000		4,232,753
Toronto-Dominion Bank (The) 2.250%, 03/15/21 (144A)		4,000,000		4,020,061
Turkiye Vakiflar Bankasi TAO 2.375%, 05/04/21 (EUR)		700,000		767,535
Wells Fargo & Co.
3.158%, 3M LIBOR + 0.880%, 07/22/20 (a) (c)		4,500,000		4,525,426
Westpac Banking Corp. 2.250%, 11/09/20 (144A)		3,700,000		3,710,967
Woori Bank 4.750%, 04/30/24 (144A)		1,200,000		1,287,275
				104,557,924
Beverages—0.1%
Coca-Cola Femsa S.A.B. de C.V. 4.625%, 02/15/20 (c)		600,000		604,563
Biotechnology—1.0%
Biogen, Inc. 2.900%, 09/15/20		4,500,000		4,532,250
Celgene Corp.
2.250%, 08/15/21		3,800,000		3,800,096
2.750%, 02/15/23		1,500,000		1,526,863
				9,859,209
Chemicals—0.2%
CNAC HK Finbridge Co., Ltd. 3.875%, 06/19/29		1,500,000		1,541,559
Cosmetics/Personal Care—0.2%
Avon Products, Inc. 7.000%, 03/15/23		950,000		999,875
Procter & Gamble Co. (The) 1.700%, 11/03/21		1,500,000		1,498,623
				2,498,498
Diversified Financial Services—1.4%
Capital One Financial Corp.
2.500%, 05/12/20		1,700,000		1,703,018
3.050%, 03/09/22 (c)		5,400,000		5,507,653
Jyske Realkredit A/S 1.000%, 04/01/26 (DKK)		15,620,000		2,465,567
Navient Corp.
6.500%, 06/15/22		800,000		852,000
6.625%, 07/26/21 (c)		500,000		525,000
8.000%, 03/25/20		500,000		510,000
Diversified Financial Services—(Continued)
Park Aerospace Holdings, Ltd. 5.250%, 08/15/22 (144A)		1,000,000		1,053,900
Realkredit Danmark A/S 1.000%, 04/01/27 (DKK)		9,390,000		1,491,752
				14,108,890
Electric—1.5%
Calpine Corp. 5.875%, 01/15/24 (144A) (c)		1,500,000		1,533,750
Dominion Energy, Inc. 2.579%, 07/01/20		2,100,000		2,104,678
Korea East-West Power Co., Ltd. 3.875%, 07/19/23 (144A) (c)		1,300,000		1,372,823
PSEG Power LLC 3.000%, 06/15/21 (c)		3,300,000		3,333,517
Southern Co. (The)
2.350%, 07/01/21		2,800,000		2,808,414
State Grid Overseas Investment, Ltd. 2.750%, 05/04/22 (144A)		3,800,000		3,829,306
				14,982,488
Electronics—0.1%
Tech Data Corp. 3.700%, 02/15/22 (c)		500,000		511,227
Engineering & Construction—0.1%
Mexico City Airport Trust 5.500%, 07/31/47 (144A)		600,000		595,140
Food—0.3%
Kroger Co. (The) 2.600%, 02/01/21 (c)		3,200,000		3,211,660
Healthcare-Products—0.2%
Zimmer Biomet Holdings, Inc. 2.700%, 04/01/20		2,000,000		2,003,411
Healthcare-Services—0.5%
Anthem, Inc. 2.500%, 11/21/20		3,200,000		3,210,941
Centene Corp. 4.750%, 05/15/22		1,500,000		1,530,300
CHS/Community Health Systems, Inc. 8.125%, 06/30/24 (144A) (c)		500,000		397,500
				5,138,741
Insurance—1.0%
Jackson National Life Global Funding 3.300%, 02/01/22 (144A)		2,000,000		2,050,662
Marsh & McLennan Cos., Inc. 3.500%, 12/29/20		1,000,000		1,015,945
Pricoa Global Funding I 2.550%, 11/24/20 (144A)		3,700,000		3,721,638

BHFTI-114

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Protective Life Global Funding 2.262%, 04/08/20 (144A)		3,100,000	$	3,101,442
				9,889,687
Internet—1.1%
Alibaba Group Holding, Ltd. 3.125%, 11/28/21		2,100,000		2,132,750
Amazon.com, Inc. 2.400%, 02/22/23 (c)		1,700,000		1,729,354
Baidu, Inc. 4.375%, 05/14/24		2,300,000		2,450,831
Symantec Corp. 4.200%, 09/15/20 (c)		1,500,000		1,518,772
Tencent Holdings, Ltd. 2.985%, 01/19/23 (144A)		3,300,000		3,351,728
				11,183,435
Lodging—0.5%
Marriott International, Inc.
2.875%, 03/01/21		4,800,000		4,842,458
Machinery-Construction & Mining—0.2%
Caterpillar Financial Services Corp. 1.700%, 08/09/21 (c)		1,600,000		1,593,028
Machinery-Diversified—0.2%
CNH Industrial Capital LLC 3.875%, 10/15/21		2,200,000		2,257,024
Media—0.6%
Altice Financing S.A. 7.500%, 05/15/26 (144A)		800,000		849,992
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125%, 02/15/23		1,500,000		1,524,375
Comcast Corp. 3.450%, 10/01/21		1,000,000		1,029,796
CSC Holdings LLC 6.750%, 11/15/21 (c)		300,000		323,250
DISH DBS Corp. 5.875%, 07/15/22		1,100,000		1,144,000
Sirius XM Radio, Inc. 4.625%, 07/15/24 (144A)		700,000		725,781
				5,597,194
Mining—0.4%
FMG Resources August 2006 Pty, Ltd. 4.750%, 05/15/22 (144A)		900,000		923,625
Glencore Funding LLC 3.000%, 10/27/22 (144A)		3,600,000		3,627,144
				4,550,769
Oil & Gas—0.8%
Aker BP ASA 4.750%, 06/15/24 (144A)		700,000		731,150
California Resources Corp. 8.000%, 12/15/22 (144A) (c)		1,016,000		502,920
Oil & Gas—(Continued)
Harvest Operations Corp. 4.200%, 06/01/23 (144A)		800,000		852,552
Occidental Petroleum Corp. 4.850%, 03/15/21		1,832,000		1,894,233
Sanchez Energy Corp. 7.750%, 06/15/21		1,200,000		72,000
Sunoco L.P. / Sunoco Finance Corp. 4.875%, 01/15/23		1,500,000		1,539,375
Total Capital International S.A. 2.750%, 06/19/21		2,000,000		2,026,815
				7,619,045
Oil & Gas Services—0.0%
Weatherford International, Ltd. 7.750%, 06/15/21 (l)		700,000		250,250
Packaging & Containers—0.3%
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. 4.250%, 09/15/22 (144A) (c)		1,200,000		1,215,576
OI European Group B.V.
4.000%, 03/15/23 (144A)		1,000,000		1,006,250
Owens-Brockway Glass Container, Inc.
5.000%, 01/15/22 (144A)		500,000		515,725
5.875%, 08/15/23 (144A) (c)		700,000		742,875
				3,480,426
Pharmaceuticals—1.7%
Allergan Funding SCS 3.450%, 03/15/22 (c)		4,900,000		5,022,013
Bayer U.S. Finance LLC 3.875%, 12/15/23 (144A)		3,000,000		3,134,101
Cigna Corp. 3.750%, 07/15/23		600,000		627,474
CVS Health Corp.
2.125%, 06/01/21		1,600,000		1,598,444
2.800%, 07/20/20		1,100,000		1,104,896
3.700%, 03/09/23		2,700,000		2,810,232
Express Scripts Holding Co. 4.750%, 11/15/21		2,700,000		2,837,402
				17,134,562
Pipelines—1.2%
Energy Transfer Operating L.P. 4.200%, 09/15/23		1,000,000		1,052,051
Enterprise Products Operating LLC 2.550%, 10/15/19		1,600,000		1,600,285
Kinder Morgan, Inc. 3.050%, 12/01/19		5,300,000		5,302,954
Sabine Pass Liquefaction LLC 5.625%, 02/01/21		3,385,000		3,496,806
Williams Cos., Inc. (The) 4.125%, 11/15/20		600,000		609,396
				12,061,492

BHFTI-115

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—0.1%
Equinix, Inc. 5.375%, 04/01/23		1,500,000	$	1,533,300
Retail—0.5%
1011778 BC ULC / New Red Finance, Inc. 4.250%, 05/15/24 (144A) (c)		1,500,000		1,543,065
Dollar Tree, Inc. 3.700%, 05/15/23		3,200,000		3,318,984
KSouth Africa, Ltd.
3.000% PIK, 12/31/22 (144A) (d)		651,324		814
25.000% PIK, 12/31/22 (144A) (d)		154,749		774
				4,863,637
Software—0.5%
Fiserv, Inc. 2.700%, 06/01/20		5,500,000		5,514,649
Telecommunications—0.6%
Sprint Communications, Inc. 7.000%, 03/01/20 (144A)		1,900,000		1,930,875
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.360%, 09/20/21 (144A)		900,000		903,375
T-Mobile USA, Inc. 4.000%, 04/15/22 (c)		500,000		512,500
Telefonica Emisiones S.A.U. 5.134%, 04/27/20		2,500,000		2,539,993
				5,886,743
Transportation—0.2%
FedEx Corp. 3.400%, 01/14/22		800,000		820,281
Kazakhstan Temir Zholy Finance B.V. 6.950%, 07/10/42 (144A)		1,000,000		1,338,612
				2,158,893
Trucking & Leasing—0.2%
DAE Funding LLC 4.000%, 08/01/20 (144A) (c)		1,700,000		1,710,625
Total Corporate Bonds & Notes (Cost $267,309,386)				267,579,083
Asset-Backed Securities—21.9%
Asset-Backed - Credit Card—1.3%
American Express Credit Account Master Trust 2.100%, 09/15/22		4,200,000		4,197,182
Citibank Credit Card Issuance Trust 2.490%, 01/20/23		5,500,000		5,540,491
Discover Card Execution Note Trust 2.298%, 1M LIBOR + 0.270%, 12/15/23 (a)		2,930,000		2,932,909
				12,670,582
Asset-Backed - Home Equity—0.1%
Argent Securities, Inc. Asset-Backed Pass-Through Certificates 2.378%, 1M LIBOR + 0.360%, 10/25/35 (a)		357,033		357,614
GSAA Home Equity Trust 2.963%, 1M LIBOR + 0.945%, 02/25/35 (a)		868,359		883,002
RAAC Trust 2.718%, 1M LIBOR + 0.700%, 03/25/34 (a)		196,816		195,215
				1,435,831
Asset-Backed - Other—20.5%
Adagio CLO VIII DAC 1.650%, 3M EURIBOR + 1.650%, 04/15/32 (144A) (EUR) (a)		400,000		436,416
American Homes 4 Rent Trust 3.467%, 04/17/52 (144A)		2,327,509		2,421,270
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates 2.843%, 1M LIBOR + 0.825%, 06/25/34 (a)		423,180		426,100
AMMC CLO, Ltd. 3.563%, 3M LIBOR + 1.260%, 01/15/32 (144A) (a)		2,000,000		1,993,860
Ares Euro CLO B.V.
0.920%, 3M EURIBOR + 0.920%, 04/17/32 (144A) (EUR) (a)		3,200,000		3,487,841
1.600%, 3M EURIBOR + 1.600%, 04/17/32 (144A) (EUR) (a)		500,000		544,975
Atrium XII 3.108%, 3M LIBOR + 0.830%, 04/22/27 (144A) (a)		5,000,000		4,999,755
Atrium XIII 4.059%, 3M LIBOR + 1.800%, 11/21/30 (144A) (a)		1,000,000		967,236
Atrium XIV LLC 4.022%, 3M LIBOR + 1.700%, 08/23/30 (144A) (a)		300,000		298,789
Atrium XV 4.009%, 3M LIBOR + 1.750%, 01/23/31 (144A) (a)		1,000,000		996,385
Avoca CLO XVII Designated Activity Co. 1.7000%, 3M EURIBOR + 1.700%, 10/15/32 (144A) (EUR) (a)		1,000,000		1,092,130
Bain Capital Credit CLO
3.219%, 3M LIBOR + 0.960%, 04/23/31 (144A) (a)		1,500,000		1,482,903
3.409%, 3M LIBOR + 1.150%, 04/23/31 (144A) (a)		1,000,000		973,023
BCC Middle Market CLO LLC 4.428%, 3M LIBOR + 2.150%, 10/20/30 (144A) (a)		1,600,000		1,575,258
BlueMountain CLO, Ltd.
3.186%, 3M LIBOR + 1.050%, 11/20/28 (144A) (a)		860,714		860,734
3.978%, 3M LIBOR + 1.700%, 10/20/31 (144A) (a)		3,000,000		2,987,571
4.028%, 3M LIBOR + 1.750%, 10/20/30 (144A) (a)		3,000,000		2,981,583
4.046%, 3M LIBOR + 1.770%, 10/25/30 (144A) (a)		3,200,000		3,180,397
4.476%, 3M LIBOR + 2.200%, 10/25/30 (144A) (a)		714,285		694,249
4.478%, 3M LIBOR + 2.200%, 10/20/30 (144A) (a)		600,000		582,751
BlueMountain Fuji U.S. CLO, Ltd.
4.003%, 3M LIBOR + 1.700%, 01/15/30 (144A) (a)		2,000,000		1,916,076
4.428%, 3M LIBOR + 2.150%, 10/20/30 (144A) (a)		2,000,000		1,954,418
4.628%, 3M LIBOR + 2.350%, 07/20/29 (144A) (a)		600,000		590,456
Burnham Park CLO, Ltd. 3.778%, 3M LIBOR + 1.500%, 10/20/29 (144A) (a)		1,116,142		1,103,868
Carlyle Global Market Strategies CLO, Ltd. 3.903%, 3M LIBOR + 1.600%, 07/15/30 (144A) (a)		2,000,000		1,972,994

BHFTI-116

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Carlyle GMS Finance MM CLO LLC 4.503%, 3M LIBOR + 2.200%, 10/15/31 (144A) (a)		1,000,000	$	991,628
Carlyle U.S. CLO, Ltd.
4.628%, 3M LIBOR + 2.350%, 07/20/29 (144A) (a)		500,000		493,007
4.078%, 3M LIBOR + 1.800%, 01/20/30 (144A) (a)		1,000,000		961,254
4.678%, 3M LIBOR + 2.400%, 07/20/31 (144A) (a)		642,000		640,701
Catamaran CLO, Ltd. 5.250%, 3M LIBOR + 2.950%, 10/18/26 (144A) (a)		2,384,800		2,384,182
Centerline REIT, Inc. 5.040%, 09/21/45 (144A)		178,586		178,114
Cole Park CLO, Ltd. 3.878%, 3M LIBOR + 1.600%, 10/20/28 (144A) (a)		857,143		850,410
Colombia Cent CLO, Ltd. 3.876%, 3M LIBOR + 1.600%, 10/25/28 (144A) (a)		769,231		761,740
Cook Park CLO Ltd. 3.423%, 3M LIBOR + 1.120%, 04/17/30 (144A) (a)		1,500,000		1,457,541
Countrywide Asset-Backed Certificates 2.768%, 1M LIBOR + 0.750%, 03/25/34 (a)		151,019		151,767
Dryden 45 Senior Loan Fund
3.703%, 3M LIBOR + 1.400%, 10/15/30 (144A) (a)		3,000,000		2,950,251
4.003%, 3M LIBOR + 1.700%, 10/15/30 (144A) (a)		5,300,000		5,254,738
Dryden 49 Senior Loan Fund 4.650%, 3M LIBOR + 2.350%, 07/18/30 (144A) (a)		380,000		377,031
Dryden 50 Senior Loan Fund 4.553%, 3M LIBOR + 2.250%, 07/15/30 (144A) (a)		500,000		490,717
Dryden 58 CLO, Ltd. 3.803%, 3M LIBOR + 1.500%, 07/17/31 (144A) (a)		750,000		733,239
Dryden 61 CLO, Ltd. 3.703%, 3M LIBOR + 1.400%, 01/17/32 (144A) (a)		1,500,000		1,481,102
Dryden 64 CLO, Ltd. 5.430%, 3M LIBOR + 2.650%, 04/18/31 (144A) (a)		400,000		379,581
Dryden 70 CLO, Ltd. 4.022%, 3M LIBOR + 1.700%, 01/16/32 (144A) (a)		280,290		277,094
Dunedin Park CLO DAC
1.070%, 3M EURIBOR + 1.070%, 10/22/32 (144A) (EUR) (a)		2,000,000		2,187,506
1.750%, 3M EURIBOR + 1.750%, 10/22/32 (144A) (EUR) (a)		900,000		983,398
Euro-Galaxy III CLO B.V. 1.500%, 3M EURIBOR + 1.500%, 01/17/31 (144A) (EUR) (a)		575,000		626,721
Euro-Galaxy V CLO B.V. 1.600%, 3M EURIBOR + 1.600%, 11/10/30 (144A) (EUR) (a)		1,000,000		1,089,956
Galaxy CLO, Ltd.
3.350%, 3M LIBOR + 1.200%, 11/22/31 (144A) (a)		1,371,841		1,371,827
3.850%, 3M LIBOR + 1.700%, 11/22/31 (144A) (a)		1,800,000		1,793,581
4.918%, 3M LIBOR + 2.750%, 05/16/31 (144A) (a)		250,000		231,255
GSAMP Trust 3.023%, 1M LIBOR + 1.005%, 06/25/35 (a)		48,947		48,965
Halcyon Loan Advisors Funding, Ltd. 4.078%, 3M LIBOR + 1.800%, 07/21/31 (144A) (a)		1,500,000		1,462,587
Highbridge Loan Management, Ltd.
3.700%, 3M LIBOR + 2.150%, 10/15/30 (144A) (a)		3,000,000		2,969,154
4.150%, 3M LIBOR + 2.150%, 10/15/30 (144A) (a)		600,000		588,625
Asset-Backed - Other—(Continued)
Invitation Homes Trust
2.875%, 1M LIBOR + 0.850%, 12/17/36 (144A) (a)		5,504,429		5,507,148
3.025%, 1M LIBOR + 1.000%, 07/17/37 (144A) (a)		4,435,924		4,428,678
3.125%, 1M LIBOR + 1.100%, 01/17/38 (144A) (a)		1,532,606		1,536,202
LCM, Ltd.
3.483%, 3M LIBOR + 1.180%, 10/15/31 (144A) (a)		722,222		721,141
3.728%, 3M LIBOR + 1.450%, 10/20/28 (144A) (a)		2,400,000		2,367,550
3.878%, 3M LIBOR + 1.600%, 10/20/30 (144A) (a)		500,000		496,381
4.078%, 3M LIBOR + 1.800%, 01/20/31 (144A) (a)		1,000,000		950,905
Long Point Park CLO, Ltd. 4.003%, 3M LIBOR + 1.700%, 01/17/30 (144A) (a)		1,000,000		952,977
Madison Park Euro Funding XIV DAC 1.120%, 3M EURIBOR + 1.120%, 07/15/32 (144A) (EUR) (a)		1,400,000		1,531,271
Madison Park Funding, Ltd.
3.678%, 3M LIBOR + 1.400%, 10/22/30 (144A) (a)		1,000,000		985,008
3.750%, 3M LIBOR + 1.450%, 10/18/30 (144A) (a)		6,304,544		6,247,444
3.956%, 3M LIBOR + 1.700%, 07/27/30 (144A) (a)		1,600,000		1,594,429
3.978%, 3M LIBOR + 1.700%, 10/22/30 (144A) (a)		1,000,000		991,408
4.050%, 3M LIBOR + 1.750%, 10/18/30 (144A) (a)		5,300,000		5,282,536
4.478%, 3M LIBOR + 2.200%, 10/22/30 (144A) (a)		750,000		746,315
4.606%, 3M LIBOR + 2.350%, 07/27/30 (144A) (a)		500,000		497,309
5.300%, 3M LIBOR + 3.000%, 10/18/30 (144A) (a)		900,000		860,946
Magnetite, Ltd.
3.420%, 3M LIBOR + 1.120%, 10/18/31 (144A) (a)		2,000,000		1,996,002
3.900%, 3M LIBOR + 1.600%, 10/18/31 (144A) (a)		3,000,000		2,959,125
Mill City Mortgage Loan Trust
2.500%, 04/25/57 (144A) (a)		1,979,411		1,982,426
2.750%, 01/25/61 (144A) (a)		2,783,147		2,793,799
3.250%, 05/25/62 (144A) (a)		3,039,200		3,099,741
3.500%, 05/25/58 (144A) (a)		1,523,676		1,550,764
3.500%, 04/25/66 (144A)		3,240,000		3,316,602
Morgan Stanley ABS Capital I, Inc. Trust 2.753%, 1M LIBOR + 0.735%, 01/25/35 (a)		41,066		41,562
Neuberger Berman CLO XXII, Ltd. 3.953%, 3M LIBOR + 1.650%, 10/17/30 (144A) (a)		2,600,000		2,574,307
Neuberger Berman CLO, Ltd.
3.678%, 3M LIBOR + 1.400%, 10/21/30 (144A) (a)		1,700,000		1,678,767
3.903%, 3M LIBOR + 1.600%, 01/15/28 (144A) (a)		1,000,000		976,145
Neuberger Berman Loan Advisers CLO 27, Ltd. 4.003%, 3M LIBOR + 1.700%, 01/15/30 (144A) (a)		1,000,000		958,620
Neuberger Berman Loan Advisers CLO 32, Ltd.
4.153%, 3M LIBOR + 1.850%, 01/19/32 (144A) (a)		400,000		397,053
4.953%, 3M LIBOR + 2.650%, 01/19/32 (144A) (a)		1,000,000		994,583
Newark BSL CLO 2, Ltd. 4.626%, 07/25/30 (144A)		254,559		251,523
Octagon Investment Partners 18-R, Ltd.
5.022%, 3M LIBOR + 2.700%, 04/16/31 (144A) (a)		400,000		371,654
Octagon Investment Partners LLC 4.678%, 3M LIBOR + 2.400%, 07/20/30 (144A) (a)		126,643		126,387
Octagon Investment Partners, Ltd.
3.378%, 3M LIBOR + 1.100%, 01/20/31 (144A) (a)		600,000		597,370
3.733%, 3M LIBOR + 1.450%, 10/24/30 (144A) (a)		2,000,000		1,983,216
3.903%, 3M LIBOR + 1.600%, 07/17/30 (144A) (a)		1,000,000		986,640
Octagon Loan Funding, Ltd. 3.304%, 3M LIBOR + 1.180%, 11/18/31 (144A) (a)		1,000,000		997,000

BHFTI-117

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Progress Residential Trust 3.712%, 08/17/35 (144A)		1,210,000	$	1,234,989
Race Point X CLO, Ltd. 3.926%, 3M LIBOR + 1.650%, 07/25/31 (144A) (a)		250,000		246,002
Sound Point Euro CLO II Funding DAC
1.110%, 3M EURIBOR + 1.110%, 10/26/32 (144A) (EUR) (a)		1,900,000		2,075,764
1.850%, 3M EURIBOR + 1.850%, 10/26/32 (144A) (EUR) (a)		1,000,000		1,092,190
TCI-Flatiron CLO, Ltd. 3.974%, 3M LIBOR + 1.850%, 11/18/30 (144A) (a)		500,000		479,711
Towd Point Mortgage Trust
2.250%, 04/25/56 (144A) (a)		3,447,964		3,433,961
2.250%, 07/25/56 (144A) (a)		5,201,436		5,170,507
2.500%, 10/25/56 (144A) (a)		1,725,376		1,723,587
2.618%, 1M LIBOR + 0.600%, 02/25/57 (144A) (a)		1,151,785		1,147,355
2.750%, 08/25/55 (144A) (a)		440,963		442,696
2.750%, 10/25/56 (144A) (a)		4,832,159		4,876,179
2.750%, 04/25/57 (144A) (a)		4,919,646		4,956,954
2.750%, 06/25/57 (144A) (a)		4,101,988		4,133,627
2.750%, 11/25/60 (144A) (a)		317,400		317,764
3.000%, 10/25/53 (144A)		1,065,955		1,070,910
3.000%, 03/25/54 (144A) (a)		417,771		418,908
3.000%, 01/25/58 (144A) (a)		1,072,540		1,086,004
3.000%, 06/25/58 (144A) (a)		3,225,727		3,306,294
3.250%, 03/25/58 (144A) (a)		2,771,077		2,821,673
3.250%, 07/25/58 (144A) (a)		1,457,406		1,478,093
3.500%, 03/25/54 (144A) (a)		850,152		856,276
3.500%, 02/25/55 (144A) (a)		1,154,040		1,167,558
3.750%, 11/25/57 (144A) (a)		220,031		221,399
3.750%, 03/25/58 (144A) (a)		3,277,003		3,383,745
3.750%, 05/25/58 (144A) (a)		5,419,081		5,618,590
Voya CLO, Ltd.
3.246%, 3M LIBOR + 0.970%, 04/25/31 (144A) (a)		800,000		791,600
3.490%, 3M LIBOR + 1.190%, 10/18/31 (144A) (a)		1,200,000		1,198,206
3.700%, 3M LIBOR + 1.400%, 10/18/31 (144A) (a)		2,454,544		2,426,874
4.153%, 3M LIBOR + 1.850%, 01/15/32 (144A) (a)		474,026		469,242
4.628%, 3M LIBOR + 2.350%, 07/20/30 (144A) (a)		221,301		218,756
5.550%, 3M LIBOR + 3.250%, 10/18/31 (144A) (a)		849,057		812,972
Webster Park CLO, Ltd. 3.878%, 3M LIBOR + 1.600%, 07/20/30 (144A) (a)		2,000,000		1,981,902
West CLO, Ltd.
3.650%, 3M LIBOR + 1.350%, 07/18/26 (144A) (a)		1,230,000		1,222,891
4.150%, 3M LIBOR + 1.850%, 07/18/26 (144A) (a)		2,170,000		2,159,046
				205,061,869
Total Asset-Backed Securities (Cost $219,441,564)				219,168,282
Foreign Government—6.2%
Banks—0.5%
Banque Centrale de Tunisie International Bond
5.625%, 02/17/24 (EUR)		2,300,000		2,429,047
Banks—(Continued)
Korea Development Bank (The) 3.375%, 03/12/23		2,700,000		2,818,476
				5,247,523
Sovereign—5.7%
Angolan Government International Bond 8.250%, 05/09/28 (144A)		2,300,000		2,380,500
Brazil Notas do Tesouro Nacional 10.000%, 01/01/21 (BRL)		2,800,000		713,021
Canadian Government Bond 1.500%, 09/01/24 (CAD)		19,100,000		14,479,439
Colombia Government International Bonds
5.000%, 06/15/45		1,800,000		2,108,718
9.850%, 06/28/27 (COP)		6,200,000,000		2,265,548
Dominican Republic International Bond 8.900%, 02/15/23 (144A) (DOP)		101,000,000		1,944,211
Export-Import Bank of Korea 2.250%, 01/21/20		5,000,000		5,001,150
Gabon Government International Bond 6.375%, 12/12/24 (144A)		2,500,000		2,458,125
Indonesia Treasury Bond 8.250%, 07/15/21 (IDR)		9,600,000,000		698,984
Iraq International Bond 5.800%, 01/15/28 (144A)		2,500,000		2,434,305
Kazakhstan Government International Bond 4.875%, 10/14/44 (144A)		1,100,000		1,322,750
Mexico Government International Bond 4.150%, 03/28/27		2,400,000		2,542,824
Peruvian Government International Bond 6.550%, 03/14/37 (c)		700,000		1,022,882
Republic of South Africa Government Bond 7.000%, 02/28/31 (ZAR)		36,000,000		2,011,198
Spain Government Bonds
0.250%, 07/30/24 (144A) (EUR)		7,100,000		7,944,341
2.700%, 10/31/48 (144A) (EUR)		2,300,000		3,540,023
Ukraine Government International Bond 7.375%, 09/25/32 (144A)		2,500,000		2,510,670
Uruguay Government International Bond 3.700%, 06/26/37 (UYU) (b)		70,269,738		1,909,044
				57,287,733
Total Foreign Government (Cost $63,116,948)				62,535,256
Mortgage-Backed Securities—5.2%
Collateralized Mortgage Obligations—3.2%
Adjustable Rate Mortgage Trust 4.249%, 02/25/35 (a)		1,298,209		1,309,993
American Home Mortgage Investment Trust 3.692%, 6M LIBOR + 1.500%, 10/25/34 (a)		609,034		609,880
Bellemeade Re, Ltd. 3.618%, 1M LIBOR + 1.600%, 04/25/28 (144A) (a)		2,313,027		2,315,579
BRAVO Residential Funding Trust 3.500%, 03/25/58 (144A)		2,260,285		2,304,008

BHFTI-118

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
CHL Mortgage Pass-Through Trust 3.829%, 07/25/34 (a)		395,866	$	401,671
CIM Trust
4.000%, 08/25/48 (144A) (a)		2,778,391		2,888,391
4.000%, 05/25/49 (144A) (a)		4,452,523		4,625,544
Credit Suisse First Boston Mortgage Securities Corp. 5.000%, 09/25/19		55,876		50,365
Flagstar Mortgage Trust 4.000%, 10/25/48 (144A) (a)		2,674,944		2,732,423
MASTR Alternative Loan Trust
5.000%, 02/25/18		10,102		10,564
5.000%, 08/25/18		10,085		10,063
Merrill Lynch Mortgage Investors Trust 2.758%, 1M LIBOR + 0.740%, 03/25/28 (a)		273,678		272,305
New York Mortgage Trust 2.693%, 1M LIBOR + 0.675%, 02/25/36 (a)		196,055		183,388
OBX Trust 2.668%, 1M LIBOR + 0.650%, 06/25/57 (144A) (a)		1,245,645		1,240,435
Radnor RE, Ltd. 3.418%, 1M LIBOR + 1.400%, 03/25/28 (144A) (a)		1,674,159		1,676,439
Sequoia Mortgage Trust
2.684%, 1M LIBOR + 0.640%, 11/20/34 (a)		256,958		258,127
3.500%, 08/25/46 (144A) (a)		3,406,750		3,466,064
Structured Adjustable Rate Mortgage Loan Trust
2.458%, 1M LIBOR + 0.440%, 08/25/35 (a)		279,659		279,413
4.225%, 09/25/34 (a)		890,191		905,784
Structured Asset Mortgage Investments Trust 2.757%, 1M LIBOR + 0.700%, 02/19/35 (a)		488,760		482,872
WaMu Mortgage Pass-Through Certificates Trust
2.348%, 1M LIBOR + 0.330%, 01/25/45 (a)		1,812,882		1,797,145
2.478%, 1M LIBOR + 0.460%, 04/25/45 (a)		1,267,514		1,259,888
2.598%, 1M LIBOR + 0.580%, 07/25/45 (a)		729,830		726,378
Wells Fargo Mortgage Backed Securities Trust
3.500%, 07/25/47 (144A) (a)		2,044,797		2,082,853
4.968%, 06/25/35 (a)		340,403		347,726
5.084%, 02/25/35 (a)		423,830		438,727
				32,676,025
Commercial Mortgage-Backed Securities—2.0%
BAMLL Commercial Mortgage Securities Trust 2.959%, 12/10/30 (144A)		1,940,000		1,996,248
BANK 0.665%, 08/15/61 (a) (e)		41,678,657		1,422,601
BX Commercial Mortgage Trust 2.778%, 1M LIBOR + 0.750%, 11/15/35 (144A) (a)		2,033,872		2,033,869
Commercial Mortgage Trust 3.732%, 08/10/49 (144A) (a)		1,220,000		1,299,093
Core Industrial Trust 3.040%, 02/10/34 (144A)		5,303,073		5,415,712
GE Commercial Mortgage Corp. Trust 5.606%, 12/10/49 (a)		374,552		315,342
Greenwich Capital Commercial Mortgage Trust
5.825%, 07/10/38 (a)		945,147		882,541
Morgan Stanley Capital I Trust 5.033%, 09/15/47 (144A) (a)		1,370,015		1,394,477
Commercial Mortgage-Backed Securities—(Continued)
OBP Depositor LLC Trust 4.646%, 07/15/45 (144A)		2,250,000		2,264,726
Wells Fargo Commercial Mortgage Trust 2.399%, 11/15/49		2,692,000		2,703,155
				19,727,764
Total Mortgage-Backed Securities (Cost $51,717,474)				52,403,789
Floating Rate Loans (f)—5.1%
Air Freight & Logistics—0.1%
Global Tel*Link Corp. 1st Lien Term Loan, 6.294%, 1M LIBOR + 4.250%, 11/29/25		857,875		823,293
Airlines—0.3%
Air Canada Term Loan B, 4.044%, 1M LIBOR + 2.000%, 10/06/23		24,445		24,577
Allegiant Travel Company Term Loan B, 6.709%, 3M LIBOR + 4.500%, 02/05/24		154,750		156,491
American Airlines, Inc. Term Loan B, 3.850%, 1M LIBOR + 1.750%, 06/27/25		2,475,000		2,451,797
				2,632,865
Auto Manufacturers—0.1%
Navistar International Corp. 1st Lien Term Loan B, 5.530%, 1M LIBOR + 3.500%, 11/06/24		834,207		832,898
Auto Parts & Equipment—0.1%
Adient U.S. LLC Term Loan B, 6.459%, 3M LIBOR + 4.250%, 05/06/24		458,850		452,923
Panther BF Aggregator 2 L.P. Term Loan B, 5.544%, 1M LIBOR + 3.500%, 04/30/26		750,000		745,937
TI Group Automotive Systems LLC Term Loan, 4.544%, 1M LIBOR + 2.500%, 06/30/22		73,071		72,740
Wand NewCo 3, Inc. 1st Lien Term Loan, 5.542%, 1M LIBOR + 3.500%, 02/05/26		106,658		107,308
				1,378,908
Chemicals—0.1%
Axalta Coating Systems U.S. Holdings, Inc. Term Loan B3, 3.854%, 3M LIBOR + 1.750%, 06/01/24		945,202		947,048
Chemours Co. (The) Term Loan B, 3.800%, 1M LIBOR + 1.750%, 04/03/25		219,262		211,862
				1,158,910
Coal—0.1%
Bowie Resource Holdings LLC
1st Lien Term Loan, 7.874%, 3M LIBOR + 5.750%, 08/14/20		950,926		930,322

BHFTI-119

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (f)—(Continued)

Security Description	Principal Amount*		Value
Coal—(Continued)
Bowie Resource Holdings LLC
2nd Lien Delayed Draw Term Loan, 12.874%, 3M LIBOR + 10.750%, 02/16/21		371,429	$	351,000
				1,281,322
Commercial Services—0.8%
Avis Budget Car Rental LLC Term Loan B, 4.050%, 1M LIBOR + 2.000%, 02/13/25		1,165,208		1,161,809
Hertz Corp. (The) Term Loan B, 4.800%, 1M LIBOR + 2.750%, 06/30/23		1,622,922		1,624,613
LegalZoom.com, Inc. 1st Lien Term Loan, 6.544%, 1M LIBOR + 4.500%, 11/21/24		306,821		308,451
Onsite Rental Group Pty, Ltd.
Term Loan, 6.100%, 10/26/23 PIK (d)		882,507		761,162
Term Loan B, 6.518%, 1M LIBOR + 4.500%, 10/26/22		645,477		637,408
United Rentals North America, Inc. Term Loan B, 3.794%, 1M LIBOR + 1.750%, 10/31/25		1,405,060		1,413,403
WEX, Inc. Term Loan B3, 4.294%, 1M LIBOR + 2.500%, 05/15/26		1,262,578		1,271,101
Zayo Group LLC Term Loan B1, 4.044%, 1M LIBOR + 2.000%, 01/19/21		994,898		998,007
				8,175,954
Diversified Financial Services—0.1%
Doncasters Finance U.S. LLC Term Loan, 5.604%, 3M LIBOR + 3.500%, 04/09/20		708,092		488,141
Russell Investment Group Term Loan B, 5.294%, 1M LIBOR + 3.250%, 06/01/23		89,537		88,530
				576,671
Electric—0.0%
EFS Cogen Holdings I LLC Term Loan B, 5.343%, 3M LIBOR + 3.250%, 06/28/23		100,516		100,340
Entertainment—0.1%
Diamond Sports Group, LLC Term Loan, 5.300%, 1M LIBOR + 3.250%, 08/24/26		369,780		372,264
Eldorado Resorts LLC Term Loan B, 4.313%, 3M LIBOR + 2.250%, 04/17/24		613,084		612,951
NASCAR Holdings, Inc. Term Loan B, 07/27/26 (g)		149,173		150,420
				1,135,635
Food—0.3%
Aramark Services, Inc. Term Loan B3, 3.794%, 1M LIBOR + 1.750%, 03/11/25		179,822		180,496
JBS USA Lux S.A. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 05/01/26		2,418,756		2,433,622
Food—(Continued)
Post Holdings, Inc. Incremental Term Loan, 4.040%, 1M LIBOR + 2.000%, 05/24/24		656,391		659,006
Whatabrands LLC Term Loan B, 5.516%, 3M LIBOR + 3.250%, 08/02/26		94,034		94,580
				3,367,704
Healthcare-Services—0.1%
HCA Inc. Term Loan B11, 3.794%, 1M LIBOR + 1.750%, 03/17/23		613,600		616,243
Home Builders—0.2%
Thor Industries, Inc. Term Loan B, 5.875%, 1M LIBOR + 3.750%, 02/01/26		1,778,180		1,738,171
Internet—0.2%
Go Daddy Operating Co. LLC Term Loan, 4.044%, 1M LIBOR + 2.000%, 02/15/24		750,119		752,254
Tibco Software, Inc. Term Loan B, 6.070%, 1M LIBOR + 4.000%,, 06/30/26		920,000		922,582
				1,674,836
Leisure Time—0.1%
Aristocrat Technologies, Inc. 1st Lien Term Loan, 4.028%, 3M LIBOR + 1.750%, 10/19/24		712,076		715,358
Life Sciences Tools & Services—0.1%
Syneos Health, Inc. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 08/01/24		1,163,067		1,164,339
Lodging—0.1%
Hilton Worldwide Finance, LLC Term Loan B2, 3.768%, 1M LIBOR + 1.750%, 06/22/26		500,000		503,576
Machinery—0.1%
Altra Industrial Motion Corp. Term Loan B, 4.044%, 1M LIBOR + 2.000%, 10/01/25		579,200		579,557
Harsco Corp. Term Loan B1, 4.313%, 1M LIBOR + 2.250%, 12/06/24		92,085		92,574
				672,131
Media—0.5%
Charter Communications Operating LLC Term Loan B, 4.050%, 1M LIBOR + 2.000%, 04/30/25		994,937		1,002,003
Gray Television, Inc.
Term Loan B, 4.582%, 1M LIBOR + 2.250%, 02/07/24		390,910		391,957
Term Loan C, 4.832%, 3M LIBOR + 2.500%, 01/02/26		375,921		377,901
Lions Gate Capital Holdings LLC Term Loan A, 3.794%, 1M LIBOR + 1.750%, 03/22/23		207,770		204,913
Mediacom Illinois LLC Term Loan N, 3.680%, 1W LIBOR + 1.750%, 02/15/24		2,086,242		2,095,369

BHFTI-120

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Floating Rate Loans (f)—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Mission Broadcasting, Inc. Term Loan B3, 4.350%, 1M LIBOR + 2.250%, 01/17/24		249,311	$	249,804
Nexstar Broadcasting, Inc. Term Loan B3, 4.294%, 1M LIBOR + 2.250%, 01/17/24		1,251,515		1,253,991
				5,575,938
Oil & Gas—0.4%
Fieldwood Energy LLC 1st Lien TL, 7.506%, 3M LIBOR + 5.250%, 04/11/22		3,447,223		2,996,930
Oxbow Carbon LLC
1st Lien Term Loan B, 5.794%, 1M LIBOR + 3.750%, 01/04/23		438,000		438,000
Term Loan A, 4.544%, 1M LIBOR + 2.500%, 01/04/22		204,879		203,854
				3,638,784
Oil & Gas Services—0.1%
Navios Maritime Midstream Partners L.P. Term Loan B, 6.550%, 1M LIBOR + 4.500%, 06/18/20		773,142		768,633
Packaging & Containers—0.1%
Crown Americas LLC Term Loan B, 4.057%, 1M LIBOR + 2.000%, 04/03/25		502,736		506,283
Pharmaceuticals—0.2%
Bausch Health Companies, Inc. Term Loan B, 4.789%, 1M LIBOR + 2.750%, 11/27/25		875,000		877,734
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.296%, 1M LIBOR + 4.250%, 04/29/24		126,145		115,045
Horizon Pharma, Inc.
Term Loan B, 4.625%, 1M LIBOR + 2.500%, 05/22/26		806,959		810,994
Valeant Pharmaceuticals International, Inc. Term Loan B, 5.039%, 1M LIBOR + 3.000%, 06/02/25		186,156		187,120
				1,990,893
Retail—0.3%
Ascena Retail Group, Inc. Term Loan B, 6.563%, 1M LIBOR + 4.500%, 08/21/22		1,103,770		621,422
General Nutrition Centers, Inc. Term Loan B, 10.900%, 2M LIBOR + 8.750%, 03/04/21		588,035		563,044
Harbor Freight Tools USA, Inc. Term Loan B, 4.544%, 1M LIBOR + 2.500%, 08/18/23		1,494,368		1,455,764
KFC Holding Co. Term Loan B, 3.791%, 1M LIBOR + 1.750%, 04/03/25		994,950		996,890
				3,637,120
Semiconductors—0.1%
MKS Instruments, Inc.
Term Loan B4, 4.044%, 1M LIBOR + 2.000%, 05/01/23		80,474		80,746
Semiconductors—(Continued)
MKS Instruments, Inc.
Term Loan B5, 4.652%, 1M LIBOR + 2.250%, 02/02/26		188,950		189,776
ON Semiconductor Corp. 1st Lien Term Loan B, 3.862%, 1M LIBOR + 1.750%, 03/31/23		1,116,035		1,118,360
				1,388,882
Software—0.2%
IQVIA, Inc.
Term Loan B2, 4.104%, 3M LIBOR + 2.000%, 01/17/25		1,780,744		1,789,092
Term Loan B3, 3.854%, 3M LIBOR + 1.750%, 06/11/25		519,974		521,518
				2,310,610
Technology Hardware, Storage & Peripherals—0.0%
Carbonite, Inc Term Loan B, 6.006%, 1M LIBOR + 3.750%, 03/26/26		34,581		34,660
Telecommunications—0.2%
CommScope, Inc. Term Loan B, 5.294%, 1M LIBOR + 3.250%, 04/06/26		761,843		760,567
CSC Holdings LLC 1st Lien Term Loan, 4.278%, 1M LIBOR + 2.250%, 07/17/25		1,769,384		1,770,260
				2,530,827
Total Floating Rate Loans (Cost $52,099,180)				50,931,784
Mutual Fund—1.4%
Investment Company Security—1.4%
Invesco Senior Loan ETF (c) (Cost $13,744,073)		600,000		13,554,000
Municipals—1.0%
Industry Public Facilities Authority, Tax Allocation Revenue 3.389%, 01/01/20		3,525,000		3,534,623
San Jose Redevelopment Agency Successor Agency, Tax Allocation Revenue
2.480%, 08/01/21		650,000		656,136
2.630%, 08/01/22		2,165,000		2,205,983
State of Pennsylvania, General Obligation, Ltd. 5.000%, 01/15/20		2,800,000		2,829,260
State of Texas, General Obligation Unlimited 5.000%, 04/01/21		1,185,000		1,251,076
Total Municipals (Cost $10,768,884)				10,477,078

BHFTI-121

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—0.1%

Security Description	Shares/ Principal Amount*		Value
Diversified Financial Services—0.0%
Remington Outdoor Co., Inc (h)		72,031	$	126,054
Oil, Gas & Consumable Fuels—0.0%
Halcon Resources Corp. (c) (h)		65,445		4,614
Riviera Resources Inc (h)		2,835		37,875
Roan Resources, Inc. (c) (h)		2,964		3,646
				46,135
Paper & Forest Products—0.1%
Appvion,Inc. (h) (i) (j)		38,739		511,351
Verso Corp. - Class A (h)		1,665		20,613
				531,964
Retail—0.0%
KSouth Africa, Ltd. (h) (i) (j)		8,217,950		82,180
KSouth Africa, Ltd. (h) (i) (j)		817,800		8,178
				90,358
Total Common Stocks (Cost $6,103,119)				794,511
Warrant—0.0%
Oil, Gas & Consumable Fuels—0.0%
Halcon Resources Corp., Expires 09/09/19 (h)		5,835		9
Paper & Forest Products—0.0%
Verso Corp., Expires 07/25/23 (h)		175		193
Total Warrants (Cost $0)				202
Short-Term Investments—3.7%
Discount Note—3.0%
Federal Home Loan Bank Zero Coupon, 10/01/19		30,065,000		30,065,000
Repurchase Agreement—0.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $6,527,081; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $6,660,784.		6,526,936		6,526,936
Total Short-Term Investments (Cost $36,591,936)				36,591,936
Securities Lending Reinvestments (k)—3.8%
Certificates of Deposit—2.1%
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (a)		2,000,000		1,999,842
Certificates of Deposit—(Continued)
Bank of Montreal (Chicago) 1.990%, SOFR + 0.170%, 02/07/20 (a)		1,000,000		1,000,211
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (a)		2,000,000		1,999,116
Chiba Bank, Ltd.
2.230%, 11/20/19		1,000,000		1,000,006
2.240%, 10/28/19		1,000,000		1,000,078
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (a)		1,000,000		1,000,143
Credit Suisse AG 2.240%, 1M LIBOR + 0.140%, 10/02/19 (a)		3,000,000		3,000,000
Mizuho Bank, Ltd. 2.174%, 1M LIBOR + 0.120%, 11/27/19 (a)		2,000,000		1,999,962
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (a)		1,000,000		1,000,126
Societe Generale 2.180%, FEDEFF PRV + 0.350%, 06/19/20 (a)		1,000,000		999,853
Standard Chartered Bank 2.158%, 1M LIBOR + 0.130%, 11/15/19 (a)		2,000,000		2,000,034
Svenska Handelsbanken AB 2.429%, 1M LIBOR + 0.380%, 12/10/19 (a)		1,000,000		1,000,402
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (a)		3,000,000		2,999,989
				20,999,762
Commercial Paper—0.6%
Bank of China, Ltd. 2.290%, 12/09/19		994,275		995,447
Cafco LLC 2.120%, 10/31/19		996,290		998,181
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (a)		2,000,000		2,000,324
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (a)		1,000,000		1,000,557
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (a)		1,000,000		1,000,149
				5,994,658
Repurchase Agreements—1.1%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $3,000,160; collateralized by various Common Stock with an aggregate market value of $3,300,001.		3,000,000		3,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $200,013; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $204,000.		200,000		200,000

BHFTI-122

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (k)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $200,013; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $204,000.		200,000	$	200,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $2,907,860; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $2,965,813.		2,907,659		2,907,659
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $200,011; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $222,600.		200,000		200,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $700,038; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $777,743.		700,000		700,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $600,033; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $666,637.		600,000		600,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $3,101,206; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,444,292.		3,100,000		3,100,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $100,039; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $111,106.		100,000		100,000
				11,007,659
Total Securities Lending Reinvestments (Cost $38,001,502)				38,002,079
Total Investments—102.8% (Cost $1,042,300,978)				1,030,092,555
Other assets and liabilities (net)—(2.8)%				(27,894,938	)
Net Assets—100.0%			$	1,002,197,617

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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)	Principal amount of security is adjusted for inflation.
(c)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $37,907,315 and the collateral received consisted of cash in the amount of $37,998,223 and non-cash collateral with a value of $1,056,734. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(d)	Payment-in-kind security for which part of the income earned may be paid as additional principal.
(e)	Interest only security.
(f)	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 generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(g)	This loan will settle after September 30, 2019, at which time the interest rate will be determined.
(h)	Non-income producing security.
(i)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(j)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2019, these securities represent 0.1% of net assets.
(k)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(l)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(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 September 30, 2019, the market value of 144A securities was $333,607,411, which is 33.3% of net assets.

BHFTI-123

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
BRL	810,000	JPMC		10/11/19		USD	206,501	$	(11,676	)
JPY	105,000,000	JPMC		01/29/20		USD	997,767		(18,231	)
JPY	105,000,000	JPMC		01/29/20		USD	982,203		(2,667	)
JPY	272,000,000	JPMC		01/29/20		USD	2,571,581		(34,115	)
JPY	312,000,000	JPMC		01/29/20		USD	2,969,308		(58,685	)
JPY	332,000,000	JPMC		03/13/20		USD	3,123,721		(17,933	)
MXN	15,690,000	JPMC		01/30/20		USD	777,560		2,933
NOK	9,660,000	JPMC		01/30/20		USD	1,089,261		(25,744	)
NOK	26,370,000	JPMC		03/16/20		USD	2,944,724		(41,219	)
TRY	3,235,000	JPMC		10/18/19		USD	497,654		71,808
Contracts to Deliver
AUD	2,240,000	JPMC		10/11/19		USD	1,543,562		31,167
AUD	1,440,000	JPMC		10/11/19		USD	1,028,434		56,180
AUD	1,250,000	JPMC		01/28/20		USD	852,187		5,570
BRL	810,000	JPMC		10/11/19		USD	202,957		8,132
CAD	19,279,506	JPMC		01/30/20		USD	14,673,272		96,303
CAD	2,520,000	JPMC		01/30/20		USD	1,898,777		(6,560	)
CAD	1,320,000	JPMC		03/16/20		USD	998,321		164
CNH	17,530,000	JPMC		02/24/20		USD	2,469,292		22,503
DKK	19,576,582	JPMC		01/30/20		USD	2,951,169		64,908
DKK	8,128,224	JPMC		01/30/20		USD	1,224,683		26,304
EUR	7,616,705	JPMC		01/30/20		USD	8,617,616		239,157
EUR	7,274,637	JPMC		01/30/20		USD	8,227,936		225,755
EUR	3,330,000	JPMC		01/30/20		USD	3,773,173		110,136
EUR	1,715,485	JPMC		01/30/20		USD	1,926,253		39,201
EUR	164,465	JPMC		01/30/20		USD	185,720		4,806
EUR	253,765	BBP		03/16/20		USD	284,739		4,740
EUR	322,067	CBNA		03/16/20		USD	361,440		6,077
EUR	491,294	DBAG		03/16/20		USD	550,765		8,681
EUR	2,813,000	GSBU		03/16/20		USD	3,154,498		50,690
EUR	4,994,156	JPMC		03/16/20		USD	5,600,446		89,994
KRW	1,155,000,000	JPMC		03/25/20		USD	970,833		(265	)
SEK	19,000,000	JPMC		03/16/20		USD	1,997,603		47,014
Net Unrealized Appreciation								$	995,128

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Australian 10 Year Treasury Bond Futures		12/16/19		64		AUD	9,430,355	$	66,462
Australian 3 Year Treasury Bond Futures		12/16/19		230		AUD	26,608,898		77,394
Canada Government Bond 10 Year Futures		12/18/19		31		CAD	4,420,600		(70,037	)
Euro-Bund Futures		12/06/19		29		EUR	5,053,250		14,408
U.S. Treasury Note 2 Year Futures		12/31/19		766		USD	165,073,000		(441,325	)

BHFTI-124

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Short	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
U.S. Treasury Long Bond Futures		12/19/19		(39	)		USD	(6,330,188	)	$	134,007
U.S. Treasury Note 10 Year Futures		12/19/19		(93	)		USD	(12,119,063	)		172,794
U.S. Treasury Note 5 Year Futures		12/31/19		(143	)		USD	(17,038,227	)		157,342
U.S. Treasury Ultra Long Bond Futures		12/19/19		(24	)		USD	(3,417,750	)		59,855
Net Unrealized Appreciation										$	170,900

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 Appreciation/ (Depreciation)
Pay	3M LIBOR		Quarterly	3.000%		Semi-Annually		09/18/21		USD	67,050,000	$	1,754,585		$	525,191	$	1,229,394
Pay	7 Day CNRR		Quarterly	2.745%		Quarterly		09/06/24		CNY	17,200,000		(18,047	)		—		(18,047	)
Pay	7 Day CNRR		Quarterly	2.765%		Quarterly		08/26/24		CNY	34,100,000		(30,793	)		—		(30,793	)
Pay	7 Day CNRR		Quarterly	2.773%		Quarterly		08/23/24		CNY	42,400,000		(36,273	)		—		(36,273	)
Pay	7 Day CNRR		Quarterly	2.790%		Quarterly		08/30/24		CNY	53,600,000		(39,827	)		—		(39,827	)
Receive	12M CPURNSA		Maturity	1.719%		Maturity		08/14/26		USD	5,000,000		(16,314	)		—		(16,314	)
Receive	12M CPURNSA		Maturity	1.960%		Maturity		08/31/24		USD	10,800,000		(115,493	)		—		(115,493	)
Totals												$	1,497,838		$	525,191	$	972,647

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

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2019(b)		Notional Amount(c)			Market Value		Upfront Premiums Paid		Unrealized Appreciation/ (Depreciation)
CDX.NA.HY.24		5.000%		Quarterly		06/20/20		2.516%		USD	8,463,750	$	150,610	$	170,094	$	(19,484)
CDX.NA.IG.31		1.000%		Quarterly		12/20/21		0.229%		USD	20,000,000		338,938		242,693		96,245
ITRX.EUR.XOVER.31		5.000%		Quarterly		06/20/24		2.703%		EUR	1,350,000		146,821		168,785		(21,964)
Totals												$	636,369	$	581,572	$	54,797

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Ally Financial, Inc. 7.500%, due 09/15/20		(5.000	%)		Quarterly		12/20/24	JPMC		0.937	%		USD	3,600,000	$	(713,358	)	$	(701,517	)	$	(11,841	)
Avon Products, Inc. 5.000%, due 03/15/23		(5.000	%)		Quarterly		03/20/23	CBNA		1.730	%		USD	950,000		(100,894	)		(96,061	)		(4,833	)
Italy Government International Bond 6.875%, due 09/27/23		(1.000	%)		Quarterly		06/20/23	BBP		1.050	%		USD	1,600,000		2,854			17,134			(14,280	)
Nabors Industries, Inc. 5.500%, due 01/15/23		(1.000	%)		Quarterly		12/20/21	CBNA		6.072	%		USD	875,000		87,637			24,714			62,923
Nabors Industries, Inc. 5.500%, due 01/15/23		(1.000	%)		Quarterly		12/20/21	CBNA		6.072	%		USD	575,000		57,591			24,516			33,075
Nabors Industries, Inc. 5.500%, due 01/15/23		(1.000	%)		Quarterly		12/20/21	CBNA		6.072	%		USD	425,000		42,567			11,621			30,946
Navient Corp. 5.500%, due 01/25/23		(5.000	%)		Quarterly		03/20/20	JPMC		0.377	%		USD	500,000		(10,942	)		(37,952	)		27,010

BHFTI-125

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Republic of Turkey 11.875%, due 01/15/30		(1.000	%)		Quarterly		12/20/19	BBP		0.804	%		USD	366,667	$	(161	)	$	22,801		$	(22,962	)
Totals															$	(634,706	)	$	(734,744	)	$	100,038

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 September 30, 2019(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		0.938	%		USD	2,700,000	$	2,840		$	(12,707	)	$	15,547
Goldman Sach Group, Inc. 2.908%, due 06/05/23		1.000	%		Quarterly		12/20/24	JPMC		0.687	%		USD	3,600,000		55,594			64,889			(9,295	)
Italy Government International Bond 6.875%, due 09/27/23		1.000	%		Quarterly		06/20/23	BBP		1.050	%		USD	1,600,000		(2,854	)		(75,132	)		72,278
Morgan Stanley 3.750%, due 02/25/23		1.000	%		Quarterly		12/20/24	JPMC		0.667	%		USD	3,600,000		59,189			71,220			(12,031	)
Nabors Industries, Inc. 5.500%, due 01/15/23		1.000	%		Quarterly		12/20/23	CBNA		10.206	%		USD	425,000		(115,336	)		(49,599	)		(65,737	)
Nabors Industries, Inc. 5.500%, due 01/15/23		1.000	%		Quarterly		12/20/23	CBNA		10.206	%		USD	575,000		(156,043	)		(83,355	)		(72,688	)
Nabors Industries, Inc. 5.500%, due 01/15/23		1.000	%		Quarterly		12/20/23	CBNA		10.206	%		USD	875,000		(237,457	)		(104,431	)		(133,026	)
Republic of Argentina 7.500%, due 04/22/26		5.000	%		Quarterly		06/20/23	BBP		47.048	%		USD	260,000		(154,694	)		(49,071	)		(105,623	)
Republic of Argentina 7.500%, due 04/22/26		5.000	%		Quarterly		06/20/23	BBP		47.048	%		USD	540,000		(321,288	)		12,097			(333,385	)
Republic of Argentina 7.500%, due 04/22/26		5.000	%		Quarterly		06/20/23	CBNA		47.048	%		USD	750,000		(446,232	)		(18,743	)		(427,489	)
Republic of Argentina 7.500%, due 04/22/26		5.000	%		Quarterly		12/20/23	CBNA		44.185	%		USD	750,000		(448,639	)		(35,922	)		(412,717	)
Republic of Indonesia 3.700%, due 01/08/22		1.000	%		Quarterly		12/20/24	CBNA		0.905	%		USD	2,275,000		10,515			15,580			(5,065	)
Russian Federal Bond 7.500%, due 03/03/30		1.000	%		Quarterly		12/20/24	CBNA		0.862	%		USD	2,700,000		18,353			28,010			(9,657	)
Spain Government International Bond 5.010%, due 11/21/24		1.000	%		Quarterly		12/20/24	CBNA		0.399	%		USD	1,400,000		42,032			41,692			340
Totals															$	(1,694,020	)	$	(195,472	)	$	(1,498,548	)

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 September 30, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium (Received)			Unrealized Appreciation/ (Depreciation)
Bespoke Cambridge 0-3% CDX Tranche		0.000	%		Quarterly		12/20/19	CBNA		0.000	%		USD	896,500	$	(81,424	)	$	(142,544	)	$	61,120
Bespoke June 0-3% CDX Equity Tranche		0.000	%		Quarterly		09/20/20	CBNA		0.000	%		USD	359,511		(38,121	)		(48,456	)		10,335
Bespoke Palma 5-7% CDX Tranche		2.300	%		Quarterly		06/20/21	CBNA		0.000	%		USD	1,380,000		16,691			—			16,691
Bespoke Phoenix 5-7% CDX Tranche		0.000	%		Quarterly		12/20/21	CBNA		0.000	%		USD	900,000		22,990			—			22,990
Bespoke Singapore 0-3% CDX Tranche		0.000	%		Quarterly		06/20/20	CBNA		0.000	%		USD	1,100,000		(120,870	)		(111,252	)		(9,618	)
Bespoke Verona 0-3% CDX Tranche		0.000	%		Quarterly		12/20/19	CBNA		0.000	%		USD	733,500		(12,910	)		(179,708	)		166,798
Bespoke Verona 7-15% CDX Tranche		0.400	%		Quarterly		12/20/19	CBNA		0.000	%		USD	1,650,000		733			—			733
Totals															$	(212,911	)	$	(481,960	)	$	269,049

BHFTI-126

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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		Unrealized Appreciation/ (Depreciation)
Pay	3M EURIBOR		Quarterly	12/20/19	JPMC	iBoxx Euro Corporates Overall Total Return Index		EUR    2,700,000	$	90		$	—	$	90
Receive	3M EURIBOR		Quarterly	12/20/19	JPMC	iBoxx Euro Corporates Overall Total Return Index		EUR    2,700,000		—			89		(89	)
Pay	3M LIBOR		Quarterly	06/20/20	BBP	Markit iBoxx USD Liquid Leveraged Loan Index		USD    4,200,000		(26,834	)		—		(26,834	)
Totals									$	(26,744	)	$	89	$	(26,833	)

OTC Cross-Currency Swaps

Receive	Pay	Maturity Date(e)		Counterparty	Notional Amount of Currency Received			Notional Amount of Currency Delivered			Market Value		Upfront Premium Paid/(Received)			Unrealized Appreciation
Floating rate equal to 3M USD-LIBOR plus 1.310% based on the notional amount of currency delivered	Fixed rate equal to 3M EURIBOR plus 1.110% based on the notional amount of currency received		08/30/21	CBNA		USD	3,219,000		EUR	2,900,000	$	59,146	$	2,992		$	56,154
Floating rate equal to 3M USD-LIBOR plus 1.134% based on the notional amount of currency delivered	Fixed rate equal to 3M EURIBOR plus 1.120% based on the notional amount of currency received		07/10/21	CBNA		USD	1,568,000		EUR	1,400,000		37,819		(1,399	)		39,218
Floating rate equal to 3M USD-LIBOR plus 1.230% based on the notional amount of currency delivered	Fixed rate equal to 3M EURIBOR plus 1.070% based on the notional amount of currency received		09/17/21	CBNA		USD	3,857,250		EUR	3,475,000		68,245		27			68,218
Floating rate equal to 3M USD-LIBOR plus 1.810% based on the notional amount of currency delivered	Fixed rate equal to 3M EURIBOR plus 1.120% based on the notional amount of currency received		08/12/21	CBNA		USD	1,120,000		EUR	1,000,000		31,151		1,251			29,900
Floating rate equal to 3M USD-LIBOR plus 2.870% based on the notional amount of currency delivered	Fixed rate equal to 3M EURIBOR plus 2.500% based on the notional amount of currency received		05/04/21	CBNA		USD	697,200		EUR	600,000		41,599		—			41,599
Totals											$	237,960	$	2,871		$	235,089

Cash and securities in the amount of $248,845 have been received at the custodian bank as collateral for OTC swap contracts and forward foreign currency exchange contracts.

(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.
(e)	At the maturity date, the notional amount of the the currency received will be exchanged back for the notional amount of the currency delivered.
(1)	There is no upfront payment premium paid or (received) therefore Market Value equals Unrealized Appreciation/(Depreciation).
*	Represents a custom index comprised of a basket of underlying issues.

BHFTI-127

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Glossary of Abbreviations

Counterparties

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

Currencies

(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CNH)—	Chinese Renminbi
(CNY)—	Chinese Yuan
(COP)—	Colombian Peso
(DOP)—	Dominican Peso
(DKK)—	Danish Krone
(EUR)—	Euro
(IDR)—	Indonesian Rupiah
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(SEK)—	Swedish Krona
(TRY)—	Turkish Lira
(USD)—	United States Dollar
(UYU)—	Uruguayan Peso
(ZAR)—	South African Rand

Index Abbreviations

(CDX.NA.HY)—	Markit North America High Yield CDS Index
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(CNRR)—	China Fixing 7 Day Repo Rates
(CPURNSA)—	U.S. Consumer Price Index for All Urban Consumers Non-Seasonally Adjusted
(EURIBOR)—	Euro InterBank Offered Rate
(FEDEFF PRV)—	Effective Federal Funds Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(ITRX.EUR.XOVER)—	Markit iTraxx Europe Crossover CDS Index
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

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

BHFTI-128

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	278,054,555		$	—	$	278,054,555
Total Corporate Bonds & Notes*		—			267,579,083			—		267,579,083
Total Asset-Backed Securities*		—			219,168,282			—		219,168,282
Total Foreign Government*		—			62,535,256			—		62,535,256
Total Mortgage-Backed Securities*		—			52,403,789			—		52,403,789
Total Floating Rate Loans*		—			50,931,784			—		50,931,784
Total Mutual Fund*		13,554,000			—			—		13,554,000
Total Municipals*		—			10,477,078			—		10,477,078
Common Stocks
Diversified Financial Services		—			126,054			—		126,054
Oil, Gas & Consumable Fuels		46,135			—			—		46,135
Paper & Forest Products		20,613			—			511,351		531,964
Retail		—			—			90,358		90,358
Total Common Stocks		66,748			126,054			601,709		794,511
Total Warrant*		202			—			—		202
Total Short-Term Investments*		—			36,591,936			—		36,591,936
Total Securities Lending Reinvestments*		—			38,002,079			—		38,002,079
Total Investments	$	13,620,950		$	1,015,869,896		$	601,709	$	1,030,092,555
Collateral for Securities Loaned (Liability)	$	—		$	(37,998,223	)	$	—	$	(37,998,223	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	1,212,223		$	—	$	1,212,223
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(217,095	)		—		(217,095	)
Total Forward Contracts	$	—		$	995,128		$	—	$	995,128
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	682,262		$	—		$	—	$	682,262
Futures Contracts (Unrealized Depreciation)		(511,362	)		—			—		(511,362	)
Total Futures Contracts	$	170,900		$	—		$	—	$	170,900
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	1,325,639		$	—	$	1,325,639
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(298,195	)		—		(298,195	)
Total Centrally Cleared Swap Contracts	$	—		$	1,027,444		$	—	$	1,027,444
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	657,636		$	—	$	657,636
OTC Swap Contracts at Value (Liabilities)		—			(2,988,057	)		—		(2,988,057	)
Total OTC Swap Contracts	$	—		$	(2,330,421	)	$	—	$	(2,330,421	)

* 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 September 30, 2019 is not presented.

Transfers from Level 3 to Level 2 in the amount of $760,554 were due to the initiation of a broker or vendor providing a price which resulted in the availability of significant observable inputs.

BHFTI-129

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—55.9% of Net Assets

Security Description	Principal Amount*		Value
Argentina—1.6%
Argentina Bonar Bond 55.469%, BADLAR + 2.000%, 04/03/22 (ARS) (a)		20,147,000	$	198,630
Argentina POM Politica Monetaria 79.499%, ARLLMON + 0.000%, 06/21/20 (ARS) (a)		2,100,000		16,112
Argentina Treasury Bills
0.485%, 04/28/20 (ARS) (b)		114,275,000		1,508,265
1.240%, 07/29/20 (ARS) (b)		35,721,000		329,454
5.337%, 05/28/20 (ARS) (b)		724,000		5,987
6.687%, 10/29/20 (ARS) (b)		22,731,000		162,658
29.834%, 03/30/20 (ARS) (b)		336,019,000		4,488,347
Argentine Bonos del Tesoro
15.500%, 10/17/26 (ARS)		693,671,000		4,439,793
16.000%, 10/17/23 (ARS)		370,242,000		2,354,989
18.200%, 10/03/21 (ARS)		329,017,000		1,988,132
Bonos de la Nacion Argentina con Ajuste por CER 4.000%, 03/06/20 (ARS) (c)		788,000		9,774
Bonos De La Nacion Argentina En Moneda Dua 4.500%, 02/13/20		4,257,000		1,575,090
				17,077,231
Brazil—10.9%
Brazil Letras do Tesouro Nacional
5.183%, 04/01/21 (BRL) (b)		2,910,000		650,225
5.305%, 04/01/20 (BRL) (b)		6,140,000		1,443,070
5.479%, 01/01/20 (BRL) (b)		1,670,000		396,923
8.354%, 07/01/21 (BRL) (b)		15,530,000		3,418,802
10.189%, 07/01/20 (BRL) (b)		88,331,000		20,525,778
Brazil Notas do Tesouro Nacional
10.000%, 01/01/21 (BRL)		36,775,000		9,580,228
10.000%, 01/01/23 (BRL)		51,875,000		14,201,510
10.000%, 01/01/27 (BRL)		229,270,000		66,111,703
				116,328,239
Colombia—1.7%
Colombian TES
7.000%, 05/04/22 (COP)		653,000,000		197,417
7.000%, 06/30/32 (COP)		7,946,000,000		2,450,300
7.750%, 09/18/30 (COP)		35,498,100,000		11,602,469
10.000%, 07/24/24 (COP)		10,589,000,000		3,667,646
				17,917,832
Ghana—1.4%
Ghana Government Bonds
16.250%, 05/17/21 (GHS)		9,750,000		1,746,454
16.500%, 03/22/21 (GHS)		2,320,000		419,502
16.500%, 02/06/23 (GHS)		13,400,000		2,312,816
17.600%, 11/28/22 (GHS)		10,940,000		1,944,669
18.250%, 09/21/20 (GHS)		2,170,000		403,382
18.250%, 07/25/22 (GHS)		5,170,000		935,185
18.500%, 06/01/20 (GHS)		670,000		125,130
19.750%, 03/15/32 (GHS)		18,788,000		3,417,825
21.000%, 03/23/20 (GHS)		2,310,000		436,514
21.500%, 03/09/20 (GHS)		1,000,000		189,083
24.750%, 03/01/21 (GHS)		810,000		161,448
24.750%, 07/19/21 (GHS)		1,490,000		299,767
Ghana—(Continued)
Ghana Treasury Notes
17.180%, 01/06/20 (GHS)		1,860,000		345,218
17.240%, 11/11/19 (GHS)		7,030,000		1,304,652
Republic of Ghana Government Bond 19.500%, 10/18/21 (GHS)		4,530,000		844,865
				14,886,510
India—9.2%
India Government Bonds
6.790%, 05/15/27 (INR)		3,400,000,000		48,009,884
6.840%, 12/19/22 (INR)		365,000,000		5,255,542
7.680%, 12/15/23 (INR)		1,164,000,000		17,192,076
8.080%, 08/02/22 (INR)		1,344,000,000		19,951,127
8.200%, 02/15/22 (INR)		547,000,000		8,091,516
				98,500,145
Indonesia—7.2%
Indonesia Treasury Bonds
5.625%, 05/15/23 (IDR)		96,951,000,000		6,635,970
7.000%, 05/15/22 (IDR)		450,607,000,000		32,170,070
10.000%, 09/15/24 (IDR)		122,770,000,000		9,803,870
12.900%, 06/15/22 (IDR)		341,823,000,000		27,838,046
				76,447,956
Japan—4.5%
Japan Treasury Bills
Zero Coupon, 12/09/19 (JPY)		1,719,000,000		15,904,607
Zero Coupon, 12/16/19 (JPY)		2,479,400,000		22,941,332
Zero Coupon, 12/23/19 (JPY)		1,008,000,000		9,327,342
				48,173,281
Mexico—10.2%
Mexican Bonos
6.500%, 06/10/21 (MXN)		687,730,000		34,729,773
6.500%, 06/09/22 (MXN)		208,000,000		10,484,427
7.250%, 12/09/21 (MXN)		265,450,000		13,599,907
8.000%, 06/11/20 (MXN)		431,860,000		22,048,188
8.000%, 12/07/23 (MXN)		176,430,000		9,360,249
10.000%, 12/05/24 (MXN)		134,690,000		7,804,976
Mexican Udibonos 2.500%, 12/10/20 (MXN) (c)		15,470,580		777,104
Mexico Cetes
7.540%, 04/02/20 (MXN) (b)		824,797,000		4,026,349
7.691%, 01/02/20 (MXN) (b)		1,310,624,000		6,512,808
				109,343,781
South Korea—4.7%
Korea Treasury Bonds
1.375%, 09/10/21 (KRW)		26,881,400,000		22,484,306
1.875%, 03/10/22 (KRW)		18,459,000,000		15,620,172
4.250%, 06/10/21 (KRW)		14,150,400,000		12,400,646
				50,505,124

BHFTI-130

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Thailand—4.5%
Bank of Thailand Bonds
1.770%, 03/27/20 (THB)		210,792,000	$	6,902,403
1.950%, 11/26/20 (THB)		1,261,227,000		41,471,179
				48,373,582
Total Foreign Government (Cost $696,873,855)				597,553,681
U.S. Treasury & Government Agencies—2.9%
United States—2.9%
U.S. Treasury Notes
1.250%, 01/31/20		9,000,000		8,980,312
1.500%, 08/31/21		6,430,000		6,410,911
1.500%, 09/30/21		7,732,000		7,712,972
3.375%, 11/15/19		7,500,000		7,511,882
Total U.S. Treasury & Government Agencies (Cost $30,616,375)				30,616,077
Short-Term Investments—38.5%
Discount Note—1.3%
Federal Home Loan Bank Zero Coupon, 10/01/19		14,000,000		14,000,000
Repurchase Agreement—21.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $232,470,863; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $237,118,846.		232,465,697		232,465,697
U.S. Treasury—15.4%
U.S. Treasury Bills
1.925%, 11/29/19 (b)		114,240,000		113,902,524
1.995%, 01/30/20 (b)		9,059,000		9,004,777
2.000%, 10/31/19 (b)		9,100,000		9,086,625
2.383%, 10/10/19 (b)		33,000,000		32,985,322
				164,979,248
Total Short-Term Investments (Cost $411,408,719)				411,444,945
Total Investments—97.3% (Cost $1,138,898,949)				1,039,614,703
Other assets and liabilities (net)—2.7%				28,985,187
Net Assets—100.0%			$	1,068,599,890

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	286,550	CBNA		10/08/19		USD	194,513	$	(1,062	)
AUD	9,949,500	JPMC		10/11/19		USD	6,742,289		(24,623	)
AUD	8,867,774	CBNA		10/15/19		USD	6,021,130		(33,002	)
AUD	19,996,500	JPMC		10/15/19		USD	13,552,168		(49,162	)
AUD	14,922,000	JPMC		10/23/19		USD	10,115,296		(36,185	)
AUD	8,836,613	CBNA		11/13/19		USD	6,004,390		(31,663	)
AUD	9,949,500	JPMC		11/13/19		USD	6,748,119		(23,184	)
AUD	5,791,200	JPMC		11/14/19		USD	3,927,905		(13,479	)
AUD	8,836,613	CBNA		11/15/19		USD	6,004,655		(31,581	)
AUD	20,094,000	JPMC		11/15/19		USD	13,629,198		(46,737	)
AUD	519,000	JPMC		11/20/19		USD	352,069		(1,202	)
AUD	5,331,000	CBNA		11/21/19		USD	3,623,001		(18,904	)
AUD	441,000	JPMC		11/21/19		USD	299,165		(1,021	)
AUD	3,634,000	JPMC		11/22/19		USD	2,475,612		(18,724	)
AUD	11,288,000	JPMC		11/22/19		USD	7,657,723		(26,091	)
AUD	286,550	CBNA		12/03/19		USD	194,802		(1,009	)
AUD	19,996,500	JPMC		01/15/20		USD	13,638,353		(98,785	)

BHFTI-131

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
BRL	67,673,677	JPMC		10/02/19		USD	16,757,132	$	(469,649	)
BRL	67,673,677	JPMC		04/01/20		USD	16,125,066		(12,861	)
EUR	1,015,000	BOA		10/08/19		USD	1,107,770		(966	)
EUR	6,822,720	JPMC		10/11/19		USD	7,602,875		(161,375	)
EUR	12,323,000	JPMC		10/23/19		USD	13,743,984		(291,258	)
EUR	10,021,278	BOA		10/29/19		USD	10,954,259		(9,339	)
EUR	4,190,725	CBNA		10/29/19		USD	4,593,370		(16,394	)
EUR	10,021,278	BOA		10/31/19		USD	10,955,662		(9,098	)
EUR	649,410	CBNA		11/04/19		USD	712,111		(2,526	)
EUR	4,077,750	JPMC		11/08/19		USD	4,553,059		(96,213	)
EUR	778,169	JPMC		11/13/19		USD	869,181		(18,369	)
EUR	6,676,830	CBNA		11/15/19		USD	7,327,153		(26,013	)
EUR	619,819	JPMC		11/15/19		USD	692,410		(14,636	)
EUR	10,046,879	BOA		11/20/19		USD	10,999,082		(8,923	)
EUR	6,622,251	JPMC		11/20/19		USD	7,400,475		(156,475	)
EUR	4,413,187	JPMC		11/21/19		USD	4,932,140		(104,270	)
EUR	4,413,187	JPMC		11/22/19		USD	4,932,449		(104,239	)
EUR	29,538,000	DBAG		11/29/19		USD	32,688,228		(356,536	)
EUR	609,133	JPMC		12/05/19		USD	681,407		(14,337	)
EUR	609,133	JPMC		06/15/20		USD	689,228		(13,180	)
INR	307,415,000	HSBC		10/03/19		USD	4,341,407		(3,602	)
JPY	329,463,060	HSBC		10/21/19		USD	3,070,170		(19,344	)
JPY	1,163,312,000	HSBC		10/21/19		USD	10,845,518		(73,255	)
JPY	940,493,000	JPMC		10/21/19		USD	8,760,587		(51,627	)
JPY	1,225,681,800	CBNA		11/26/19		USD	11,590,398		(214,107	)
JPY	871,443,600	JPMC		11/27/19		USD	8,233,045		(144,131	)
JPY	433,529,140	JPMC		12/05/19		USD	4,062,871		(36,349	)
JPY	521,836,380	HSBC		12/06/19		USD	4,886,355		(39,206	)
JPY	809,711,060	HSBC		12/06/19		USD	7,597,784		(76,671	)
JPY	450,995,670	JPMC		12/06/19		USD	4,227,618		(38,482	)
JPY	1,550,994,000	HSBC		12/19/19		USD	14,474,614		(50,580	)
JPY	761,873,200	JPMC		12/20/19		USD	7,114,034		(28,058	)
JPY	1,293,091,600	CBNA		02/26/20		USD	12,311,652		(227,243	)
JPY	881,722,300	CBNA		02/27/20		USD	8,386,684		(146,152	)
JPY	871,460,300	JPMC		02/27/20		USD	8,288,802		(144,178	)
JPY	1,693,262,000	CBNA		02/28/20		USD	16,219,210		(393,071	)
JPY	521,836,380	HSBC		03/06/20		USD	4,918,734		(39,220	)
JPY	495,613,730	JPMC		03/06/20		USD	4,676,619		(42,303	)
JPY	1,085,186,350	HSBC		03/23/20		USD	10,204,558		(46,472	)
JPY	1,163,312,000	HSBC		03/23/20		USD	10,957,069		(67,674	)
JPY	760,234,000	JPMC		03/23/20		USD	7,150,747		(34,438	)
JPY	761,873,190	JPMC		03/23/20		USD	7,163,027		(31,374	)
JPY	395,051,150	JPMC		03/24/20		USD	3,750,351		(52,170	)
JPY	521,836,390	HSBC		06/08/20		USD	4,947,273		(39,827	)
JPY	495,613,730	JPMC		06/08/20		USD	4,704,139		(43,296	)
JPY	761,873,200	JPMC		06/22/20		USD	7,204,345		(33,535	)
JPY	1,925,329,850	BNP		06/24/20		USD	18,389,167		(265,637	)
JPY	1,060,916,000	CBNA		08/31/20		USD	10,265,318		(239,813	)
NOK	21,001,000	DBAG		10/03/19		USD	2,318,247		(9,802	)
NOK	41,607,000	DBAG		11/14/19		USD	4,673,878		(97,311	)
NOK	17,168,000	DBAG		11/18/19		USD	1,923,445		(34,969	)
NOK	69,432,000	DBAG		11/19/19		USD	7,716,510		(78,922	)
NOK	51,471,000	DBAG		11/26/19		USD	5,743,794		(81,512	)
NOK	69,432,000	DBAG		12/19/19		USD	7,718,869		(77,495	)
NOK	42,038,500	DBAG		12/23/19		USD	4,698,089		(71,131	)
NOK	51,471,000	DBAG		02/26/20		USD	5,747,931		(80,892	)
NOK	42,038,500	DBAG		03/23/20		USD	4,701,925		(73,146	)

BHFTI-132

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
NOK	31,621,000	DBAG		03/24/20		USD	3,516,531	$	(34,796	)
SEK	28,557,000	DBAG		10/03/19		USD	2,937,963		(36,833	)
SEK	15,495,635	DBAG		10/29/19		USD	1,610,087		(33,196	)
SEK	5,678,000	DBAG		11/19/19		USD	592,131		(13,553	)
SEK	114,112,000	DBAG		11/26/19		USD	11,879,799		(246,939	)
SEK	7,621,032	DBAG		11/29/19		USD	789,662		(12,611	)
SEK	15,495,653	DBAG		11/29/19		USD	1,613,005		(33,045	)
Contracts to Deliver
AUD	286,550	CBNA		10/08/19		USD	204,585		11,134
AUD	9,949,500	JPMC		10/11/19		USD	7,140,657		422,991
AUD	8,867,774	CBNA		10/15/19		USD	6,355,179		367,051
AUD	19,996,500	JPMC		10/15/19		USD	14,332,791		829,785
AUD	14,922,000	JPMC		10/23/19		USD	10,774,654		695,544
AUD	8,836,613	CBNA		11/13/19		USD	6,183,862		211,135
AUD	9,949,500	JPMC		11/13/19		USD	6,972,361		247,426
AUD	5,791,200	JPMC		11/14/19		USD	4,067,449		153,024
AUD	8,836,613	CBNA		11/15/19		USD	6,190,047		216,974
AUD	20,094,000	JPMC		11/15/19		USD	14,076,852		494,391
AUD	519,000	JPMC		11/20/19		USD	359,825		8,958
AUD	5,331,000	CBNA		11/21/19		USD	3,686,653		82,556
AUD	441,000	JPMC		11/21/19		USD	304,559		6,415
AUD	14,922,000	JPMC		11/22/19		USD	10,363,478		274,959
AUD	286,550	CBNA		12/03/19		USD	199,470		5,677
AUD	19,996,500	JPMC		01/15/20		USD	14,009,848		470,280
BRL	67,673,677	JPMC		10/02/19		USD	16,285,327		(2,156	)
EUR	4,694,250	GSBU		10/04/19		USD	5,340,367		223,090
EUR	3,657,619	BOA		10/08/19		USD	4,164,674		176,233
EUR	11,300,422	DBAG		10/08/19		USD	12,868,355		545,839
EUR	6,270,000	GSBU		10/08/19		USD	7,139,022		301,917
EUR	9,359,372	UBSA		10/09/19		USD	10,660,371		453,692
EUR	5,723,000	HSBC		10/11/19		USD	6,552,778		310,737
EUR	6,822,720	JPMC		10/11/19		USD	7,814,130		372,631
EUR	2,518,372	BOA		10/15/19		USD	2,881,773		134,176
EUR	11,794,825	DBAG		10/15/19		USD	13,464,972		596,569
EUR	11,794,825	DBAG		10/15/19		USD	13,501,536		633,133
EUR	3,280,343	GSBU		10/15/19		USD	3,750,383		171,460
EUR	4,918,354	BOA		10/16/19		USD	5,653,156		286,725
EUR	900,000	GSBU		10/16/19		USD	1,034,397		52,404
EUR	3,821,000	HSBC		10/16/19		USD	4,387,005		217,900
EUR	446,000	SCB		10/17/19		USD	512,271		25,603
EUR	1,368,160	GSBU		10/23/19		USD	1,569,759		76,171
EUR	12,323,000	JPMC		10/23/19		USD	14,143,723		690,997
EUR	6,686,730	UBSA		10/23/19		USD	7,681,582		381,838
EUR	3,566,100	DBAG		10/24/19		USD	4,071,060		177,741
EUR	4,520,000	UBSA		10/24/19		USD	5,190,745		255,999
EUR	699,631	DBAG		10/25/19		USD	796,432		32,547
EUR	3,696,678	HSBC		10/25/19		USD	4,206,376		170,195
EUR	10,021,278	BOA		10/29/19		USD	11,339,577		394,657
EUR	4,190,725	CBNA		10/29/19		USD	4,744,320		167,344
EUR	2,480,403	SCB		10/29/19		USD	2,806,826		97,809
EUR	49,348,225	DBAG		10/30/19		USD	55,862,191		1,961,589
EUR	10,021,278	BOA		10/31/19		USD	11,331,360		384,796
EUR	6,729,500	GSBU		10/31/19		USD	7,606,791		255,942
EUR	1,620,000	HSBC		10/31/19		USD	1,834,601		65,023
EUR	649,410	CBNA		11/04/19		USD	735,327		25,742

BHFTI-133

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	4,077,750	JPMC		11/08/19		USD	4,630,652	$	173,806
EUR	778,169	JPMC		11/13/19		USD	877,530		26,718
EUR	419,000	HSBC		11/14/19		USD	477,865		19,719
EUR	6,676,830	CBNA		11/15/19		USD	7,630,949		329,809
EUR	619,819	JPMC		11/15/19		USD	708,503		30,728
EUR	10,046,879	BOA		11/20/19		USD	11,401,801		411,642
EUR	815,500	GSBU		11/20/19		USD	925,062		32,997
EUR	6,622,251	JPMC		11/20/19		USD	7,519,731		275,732
EUR	2,341,000	BOA		11/21/19		USD	2,655,467		94,495
EUR	1,367,827	GSBU		11/21/19		USD	1,551,320		54,967
EUR	4,413,187	JPMC		11/21/19		USD	4,999,656		171,785
EUR	6,968,626	UBSA		11/21/19		USD	7,897,823		274,392
EUR	4,413,187	JPMC		11/22/19		USD	4,920,968		92,759
EUR	1,158,752	BBP		11/29/19		USD	1,310,201		41,855
EUR	49,367,619	DBAG		11/29/19		USD	55,823,669		1,786,882
EUR	9,262,000	MSC		11/29/19		USD	10,475,507		337,511
EUR	4,949,546	BOA		12/04/19		USD	5,606,722		186,902
EUR	4,694,250	GSBU		12/04/19		USD	5,321,965		181,697
EUR	609,133	JPMC		12/05/19		USD	691,746		24,676
EUR	9,216,000	SCB		12/05/19		USD	10,465,505		372,922
EUR	8,039,372	UBSA		12/05/19		USD	9,119,622		315,583
EUR	3,659,942	BOA		12/09/19		USD	4,188,181		178,633
EUR	11,300,422	DBAG		12/09/19		USD	12,919,998		540,134
EUR	708,000	DBAG		12/11/19		USD	812,749		36,975
EUR	5,023,440	BOA		12/18/19		USD	5,726,721		218,826
EUR	309,733	DBAG		12/18/19		USD	352,972		13,368
EUR	3,280,343	GSBU		12/18/19		USD	3,735,654		138,959
EUR	1,986,636	DBAG		01/23/20		USD	2,262,421		78,114
EUR	19,463,000	SCB		02/24/20		USD	21,844,298		399,197
EUR	1,367,827	GSBU		03/23/20		USD	1,533,033		23,096
EUR	1,158,752	BBP		03/31/20		USD	1,283,891		4,069
EUR	2,529,597	SCB		03/31/20		USD	2,804,160		10,262
EUR	609,133	JPMC		06/15/20		USD	707,885		31,837
INR	307,415,000	HSBC		10/03/19		USD	4,405,173		67,369
INR	360,174,600	BNP		10/07/19		USD	5,161,869		81,644
INR	806,150,600	JPMC		11/04/19		USD	11,152,006		(184,457	)
INR	363,181,400	BNP		11/06/19		USD	5,021,034		(85,114	)
INR	345,753,110	HSBC		11/06/19		USD	4,754,254		(106,861	)
INR	285,074,511	HSBC		11/07/19		USD	3,930,165		(77,417	)
INR	244,006,000	HSBC		11/13/19		USD	3,391,799		(36,273	)
INR	317,597,000	HSBC		11/18/19		USD	4,399,764		(59,847	)
INR	172,049,000	JPMC		11/20/19		USD	2,389,138		(26,219	)
INR	306,067,000	HSBC		12/05/19		USD	4,178,104		(111,906	)
INR	122,315,735	HSBC		12/16/19		USD	1,685,835		(26,590	)
INR	615,172,360	JPMC		12/16/19		USD	8,521,278		(91,156	)
INR	101,331,000	BNP		01/13/20		USD	1,389,095		(25,066	)
INR	454,938,000	CBNA		01/16/20		USD	6,212,454		(134,254	)
INR	307,415,000	HSBC		02/03/20		USD	4,269,653		(9,528	)
INR	383,726,000	SCB		02/27/20		USD	5,195,667		(130,064	)
INR	460,824,000	SCB		02/28/20		USD	6,256,053		(138,938	)
INR	958,692,000	SCB		03/03/20		USD	13,001,153		(296,391	)
INR	168,684,640	JPMC		03/16/20		USD	2,309,957		(26,069	)
JPY	1,492,775,060	HSBC		10/21/19		USD	14,090,188		267,098
JPY	940,493,000	JPMC		10/21/19		USD	8,857,975		149,015
JPY	1,126,000,000	CBNA		11/26/19		USD	10,651,854		200,770
JPY	99,681,800	CBNA		11/26/19		USD	926,062		855
JPY	433,529,140	JPMC		12/05/19		USD	4,094,470		67,949

BHFTI-134

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
JPY	1,007,773,440	HSBC		12/06/19		USD	9,551,902	$	191,060
JPY	323,774,000	HSBC		12/06/19		USD	3,064,654		57,235
JPY	450,995,670	JPMC		12/06/19		USD	4,259,691		70,555
JPY	1,550,994,000	HSBC		12/19/19		USD	14,711,963		287,929
JPY	761,873,200	JPMC		12/20/19		USD	7,201,790		115,814
JPY	1,293,091,600	CBNA		02/26/20		USD	12,093,162		8,753
JPY	881,722,300	CBNA		02/27/20		USD	8,249,647		9,115
JPY	1,355,847,000	CBNA		02/28/20		USD	12,727,408		54,932
JPY	337,415,000	CBNA		02/28/20		USD	3,155,520		1,858
JPY	521,836,380	HSBC		03/06/20		USD	4,977,313		97,798
JPY	495,613,730	JPMC		03/06/20		USD	4,710,995		76,680
JPY	2,054,169,685	HSBC		03/23/20		USD	19,610,867		382,436
JPY	1,522,107,190	JPMC		03/23/20		USD	14,481,747		233,784
JPY	395,051,150	JPMC		03/24/20		USD	3,758,826		60,644
JPY	495,613,730	JPMC		06/08/20		USD	4,735,844		75,001
JPY	761,873,200	JPMC		06/22/20		USD	7,285,402		114,591
JPY	1,060,916,000	CBNA		08/31/20		USD	10,032,397		6,893
KRW	7,648,000,000	HSBC		10/29/19		USD	6,505,614		107,203
KRW	6,091,000,000	CBNA		11/15/19		USD	5,213,112		114,959
KRW	17,622,000,000	GSBU		12/09/19		USD	14,879,676		119,307
KRW	7,690,000,000	DBAG		02/10/20		USD	6,373,280		(82,588	)
KRW	7,689,000,000	DBAG		03/06/20		USD	6,395,242		(65,300	)
KRW	11,175,000,000	HSBC		03/18/20		USD	9,499,320		105,879
SEK	28,557,000	DBAG		10/03/19		USD	2,951,658		50,529
SEK	15,495,635	DBAG		10/29/19		USD	1,604,377		27,487
SEK	5,678,000	DBAG		11/19/19		USD	588,656		10,078
SEK	114,112,000	DBAG		11/26/19		USD	11,835,503		202,643
SEK	23,116,685	DBAG		11/29/19		USD	2,398,059		41,047
Cross Currency Contracts to Buy
BRL	29,034,000	CBNA		10/02/19		EUR	6,345,120		71,944
BRL	29,034,000	CBNA		04/01/20		EUR	6,237,030		23,457
EUR	6,383,905	CBNA		10/02/19		BRL	29,034,000		(29,670	)
JPY	271,310,405	CBNA		10/31/19		EUR	2,303,393		(2,096	)
JPY	1,670,396,124	JPMC		11/21/19		AUD	23,237,675		(211,192	)
JPY	1,027,155,898	HSBC		11/22/19		EUR	8,705,796		6,696
JPY	1,269,771,900	HSBC		12/12/19		AUD	16,910,000		361,750
JPY	775,774,935	JPMC		12/12/19		AUD	10,350,000		208,342
JPY	443,177,120	HSBC		12/12/19		AUD	5,920,000		114,045
JPY	271,416,361	CBNA		12/30/19		EUR	2,303,393		(1,632	)
JPY	1,096,567,400	JPMC		01/14/20		AUD	14,950,000		97,781
JPY	1,662,922,888	JPMC		02/21/20		AUD	23,237,675		(211,462	)
JPY	1,027,315,213	HSBC		02/25/20		EUR	8,705,796		7,001
JPY	1,161,316,498	CBNA		02/25/20		AUD	16,244,177		(156,737	)
JPY	1,692,358,137	CBNA		03/06/20		AUD	23,630,500		(193,744	)
JPY	1,007,445,060	JPMC		03/12/20		AUD	13,500,000		271,362
JPY	431,232,900	HSBC		03/13/20		AUD	5,800,000		101,828
JPY	1,029,225,904	HSBC		03/25/20		EUR	8,706,022		23,662
JPY	271,431,333	CBNA		03/31/20		EUR	2,303,393		(1,994	)
JPY	3,666,547,251	CBNA		04/02/20		EUR	31,104,435		(15,861	)
JPY	1,657,299,370	JPMC		05/21/20		AUD	23,237,675		(208,394	)
JPY	1,027,965,537	HSBC		05/22/20		EUR	8,705,796		9,980
JPY	768,286,710	JPMC		06/12/20		AUD	10,350,000		196,634
JPY	438,929,520	HSBC		06/12/20		AUD	5,920,000		107,620
JPY	428,864,721	JPMC		06/12/20		AUD	5,790,000		101,249
JPY	271,385,265	CBNA		06/30/20		EUR	2,303,393		(3,356	)

BHFTI-135

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Cross Currency Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
JPY	1,651,499,212	JPMC		08/21/20		AUD	23,237,675	$	(206,913	)
JPY	1,028,739,481	HSBC		08/24/20		EUR	8,705,796		13,139
JPY	1,149,919,663	CBNA		08/24/20		AUD	16,200,923		(156,953	)
JPY	271,477,401	CBNA		09/30/20		EUR	2,303,393		(3,709	)
SEK	52,791,000	DBAG		10/15/19		EUR	4,951,276		(34,660	)
SEK	52,791,000	DBAG		11/13/19		EUR	4,949,953		(34,727	)
SEK	52,791,000	DBAG		12/13/19		EUR	4,948,329		(34,276	)
SEK	52,791,000	DBAG		02/13/20		EUR	4,944,922		(34,243	)
SEK	52,791,000	DBAG		03/13/20		EUR	4,943,070		(34,215	)
SEK	52,791,000	DBAG		06/15/20		EUR	4,936,783		(34,424	)
Net Unrealized Appreciation								$	16,917,755

Securities in the amount of $11,493,852 have been received at the custodian bank as collateral for forward foreign currency exchange contracts.

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)
Receive	3M LIBOR		Semi-Annually	2.378%	Quarterly		11/18/46		USD	24,800,000	$	(3,693,183	)	$	—	$	(3,693,183	)
Receive	3M LIBOR		Semi-Annually	2.587%	Quarterly		07/27/47		USD	36,300,000		(7,244,569	)		—		(7,244,569	)
Receive	3M LIBOR		Semi-Annually	2.794%	Quarterly		03/13/47		USD	24,900,000		(6,075,152	)		—		(6,075,152	)
Receive	3M LIBOR		Semi-Annually	2.980%	Quarterly		02/20/48		USD	13,258,000		(3,894,320	)		—		(3,894,320	)
Receive	3M LIBOR		Semi-Annually	3.002%	Quarterly		02/22/48		USD	13,258,000		(3,963,442	)		—		(3,963,442	)
Receive	3M LIBOR		Semi-Annually	3.019%	Quarterly		02/23/48		USD	13,258,000		(4,015,484	)		—		(4,015,484	)
Totals											$	(28,886,150	)	$	—	$	(28,886,150	)

(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.
(DBAG)—	Deutsche Bank AG
(GSBU)—	Goldman Sachs Bank USA
(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
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(COP)—	Colombian Peso
(EUR)—	Euro
(GHS)—	Ghana Cedi
(IDR)—	Indonesian Rupiah
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(SEK)—	Swedish Krona
(THB)—	Thai Baht
(USD)—	United States Dollar

Index Abbreviations

(ARLLMON)—	Argentina Blended Historical Policy Rate
(BADLAR)—	Buenos Aires Deposits of Large Amount Rate Index
(LIBOR)—	London Interbank Offered Rate

BHFTI-136

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Foreign Government*	$	—	$	597,553,681		$	—	$	597,553,681
Total U.S. Treasury & Government Agencies*		—		30,616,077			—		30,616,077
Total Short-Term Investments*		—		411,444,945			—		411,444,945
Total Investments	$	—	$	1,039,614,703		$	—	$	1,039,614,703
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	26,225,246		$	—	$	26,225,246
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—		(9,307,491	)		—		(9,307,491	)
Total Forward Contracts	$	—	$	16,917,755		$	—	$	16,917,755
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Depreciation)	$	—	$	(28,886,150	)	$	—	$	(28,886,150	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-137

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—99.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.0%
Boeing Co. (The)		73,249	$	27,869,047
Lockheed Martin Corp.		76,346		29,779,521
United Technologies Corp.		242,977		33,171,220
				90,819,788
Airlines—0.0%
Spirit Airlines, Inc. (a) (b)		30,396		1,103,375
Banks—2.5%
Bank of America Corp.		1,741,512		50,799,905
SVB Financial Group (a)		24,269		5,071,008
				55,870,913
Beverages—2.2%
Coca-Cola Co. (The)		923,523		50,276,592
Biotechnology—1.4%
Alnylam Pharmaceuticals, Inc. (a) (b)		11,370		914,375
Arcus Biosciences, Inc. (a)		37,977		345,591
Assembly Biosciences, Inc. (a)		24,660		242,408
Atreca, Inc. - Class A (a) (b)		30,416		372,292
Audentes Therapeutics, Inc. (a)		23,088		648,542
Biohaven Pharmaceutical Holding Co., Ltd. (a)		42,241		1,762,294
Bluebird Bio, Inc. (a) (b)		17,359		1,593,903
Calithera Biosciences, Inc. (a)		51,800		160,062
Coherus Biosciences, Inc. (a) (b)		101,816		2,062,792
CytomX Therapeutics, Inc. (a)		42,100		310,698
Forty Seven, Inc. (a)		79,518		510,505
G1 Therapeutics, Inc. (a)		47,269		1,076,788
Global Blood Therapeutics, Inc. (a) (b)		26,641		1,292,621
GlycoMimetics, Inc. (a) (b)		61,203		263,785
Heron Therapeutics, Inc. (a) (b)		27,714		512,709
Incyte Corp. (a)		19,026		1,412,300
Jounce Therapeutics, Inc. (a)		25,319		84,312
Karyopharm Therapeutics, Inc. (a) (b)		55,051		529,591
Madrigal Pharmaceuticals, Inc. (a) (b)		9,766		842,024
Medicines Co. (The) (a) (b)		67,763		3,388,150
Momenta Pharmaceuticals, Inc. (a) (b)		52,800		684,288
Myovant Sciences, Ltd. (a) (b)		72,245		375,674
PhaseBio Pharmaceuticals, Inc. (a) (b)		24,900		103,833
Portola Pharmaceuticals, Inc. (a)		81,762		2,192,857
Ra Pharmaceuticals, Inc. (a) (b)		46,681		1,104,006
Radius Health, Inc. (a)		37,824		973,968
Rigel Pharmaceuticals, Inc. (a) (b)		130,522		244,076
Seattle Genetics, Inc. (a) (b)		49,709		4,245,149
Syndax Pharmaceuticals, Inc. (a)		55,214		412,449
Vertex Pharmaceuticals, Inc. (a)		19,880		3,368,070
				32,030,112
Capital Markets—3.1%
Ares Management Corp. - Class A (b)		326,506		8,753,626
Blackstone Group, Inc. (The) - Class A (b)		329,019		16,069,288
Blucora, Inc. (a) (b)		333,120		7,208,717
Hamilton Lane, Inc. - Class A		114,219		6,505,914
Raymond James Financial, Inc.		61,984		5,111,201
Capital Markets—(Continued)
S&P Global, Inc.		42,683		10,456,481
TD Ameritrade Holding Corp. (b)		361,648		16,888,961
				70,994,188
Chemicals—2.4%
Cabot Corp. (b)		183,214		8,303,259
Celanese Corp.		54,528		6,668,229
FMC Corp.		95,533		8,376,333
Ingevity Corp. (a)		61,958		5,256,517
Linde plc		68,245		13,220,421
Livent Corp. (a)		135,279		905,017
PPG Industries, Inc.		100,189		11,873,398
				54,603,174
Construction & Engineering—0.2%
Dycom Industries, Inc. (a) (b)		67,758		3,459,046
Granite Construction, Inc. (b)		56,031		1,800,276
				5,259,322
Consumer Finance—0.9%
American Express Co.		110,701		13,093,714
OneMain Holdings, Inc.		186,430		6,838,253
				19,931,967
Containers & Packaging—0.9%
Ball Corp.		186,869		13,605,932
International Paper Co.		139,460		5,832,217
				19,438,149
Diversified Consumer Services—0.1%
Houghton Mifflin Harcourt Co. (a)		320,582		1,708,702
Diversified Financial Services—0.3%
Voya Financial, Inc.		138,294		7,528,725
Diversified Telecommunication Services—1.8%
Verizon Communications, Inc.		673,689		40,663,868
Electric Utilities—1.9%
Avangrid, Inc. (b)		120,652		6,304,067
Duke Energy Corp.		112,823		10,815,213
Edison International (b)		130,120		9,813,650
Exelon Corp.		280,475		13,549,747
NextEra Energy, Inc.		14,409		3,357,153
				43,839,830
Electrical Equipment—0.4%
AMETEK, Inc.		47,047		4,319,856
Nvent Electric plc		235,701		5,194,850
				9,514,706
Electronic Equipment, Instruments & Components—0.3%
Coherent, Inc. (a) (b)		38,476		5,914,531

BHFTI-138

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Energy Equipment & Services—0.5%
Schlumberger, Ltd.		312,652	$	10,683,319
Entertainment—1.7%
Electronic Arts, Inc. (a)		100,545		9,835,312
Liberty Media Corp.-Liberty Formula One - Class C (a)		131,080		5,451,617
Netflix, Inc. (a) (b)		40,207		10,760,197
Spotify Technology S.A. (a)		18,243		2,079,702
Take-Two Interactive Software, Inc. (a)		27,790		3,483,199
Walt Disney Co. (The)		59,162		7,709,992
				39,320,019
Equity Real Estate Investment Trusts—3.5%
Alexandria Real Estate Equities, Inc.		72,263		11,131,393
American Tower Corp.		119,782		26,487,394
Camden Property Trust		80,535		8,940,190
Equinix, Inc.		38,669		22,304,279
HCP, Inc.		195,128		6,952,411
STORE Capital Corp.		118,269		4,424,443
				80,240,110
Food Products—1.3%
Mondelez International, Inc. - Class A		542,891		30,032,730
Gas Utilities—0.3%
UGI Corp.		116,372		5,850,020
Health Care Equipment & Supplies—4.6%
Abbott Laboratories (b)		444,044		37,153,162
Baxter International, Inc.		120,232		10,516,693
Boston Scientific Corp. (a)		647,902		26,363,132
Danaher Corp.		123,127		17,783,233
NuVasive, Inc. (a) (b)		182,596		11,572,934
				103,389,154
Health Care Providers & Services—2.2%
Anthem, Inc.		132,200		31,741,220
HCA Healthcare, Inc.		78,797		9,488,735
UnitedHealth Group, Inc.		41,303		8,975,968
				50,205,923
Hotels, Restaurants & Leisure—2.7%
Hyatt Hotels Corp. - Class A		150,508		11,087,924
McDonald’s Corp.		217,922		46,790,033
MGM Resorts International		135,932		3,768,035
				61,645,992
Household Products—2.2%
Procter & Gamble Co. (The)		399,466		49,685,581
Independent Power and Renewable Electricity Producers—0.8%
NRG Energy, Inc.		443,776		17,573,530
Industrial Conglomerates—0.1%
3M Co.		5,631		925,737
Industrial Conglomerates—(Continued)
General Electric Co.		96,912		866,393
				1,792,130
Insurance—4.5%
American International Group, Inc. (b)		299,602		16,687,831
Assurant, Inc. (b)		113,036		14,222,190
Assured Guaranty, Ltd.		314,908		14,000,810
Athene Holding, Ltd. - Class A (a)		223,324		9,393,007
Hartford Financial Services Group, Inc. (The)		263,841		15,991,403
Marsh & McLennan Cos., Inc. (b)		153,104		15,318,055
Progressive Corp. (The)		103,408		7,988,268
Prudential Financial, Inc.		68,061		6,122,087
Trupanion, Inc. (a) (b)		125,085		3,179,661
				102,903,312
Interactive Media & Services—5.8%
Alphabet, Inc. - Class A (a)		70,696		86,329,714
Facebook, Inc. - Class A (a)		256,091		45,604,685
				131,934,399
Internet & Direct Marketing Retail—4.7%
Amazon.com, Inc. (a)		49,214		85,431,075
Expedia Group, Inc.		149,762		20,129,510
				105,560,585
IT Services—4.7%
FleetCor Technologies, Inc. (a)		49,215		14,113,877
Genpact, Ltd.		177,700		6,885,875
Global Payments, Inc. (b)		162,106		25,774,854
GoDaddy, Inc. - Class A (a)		162,650		10,731,647
PayPal Holdings, Inc. (a)		121,683		12,605,142
Visa, Inc. - Class A (b)		173,698		29,877,793
WEX, Inc. (a) (b)		35,668		7,207,433
				107,196,621
Life Sciences Tools & Services—1.1%
10X Genomics, Inc. - Class A (a)		8,900		448,560
Adaptive Biotechnologies Corp. (a) (b)		28,000		865,200
Thermo Fisher Scientific, Inc.		84,445		24,596,295
				25,910,055
Machinery—2.5%
Caterpillar, Inc.		8,560		1,081,214
Dover Corp.		20,700		2,060,892
Fortive Corp.		170,758		11,707,169
Gardner Denver Holdings, Inc. (a)		357,303		10,108,102
Greenbrier Cos., Inc. (The)		52,303		1,575,366
Illinois Tool Works, Inc.		54,459		8,522,289
Ingersoll-Rand plc		101,974		12,564,217
PACCAR, Inc.		57,442		4,021,514
Rexnord Corp. (a)		39,789		1,076,292
Wabtec Corp. (b)		64,318		4,621,891
				57,338,946

BHFTI-139

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Marine—0.1%
Kirby Corp. (a) (b)		21,355	$	1,754,527
Media—2.6%
Charter Communications, Inc. - Class A (a)		41,547		17,122,350
Comcast Corp. - Class A		882,390		39,778,141
New York Times Co. (The) - Class A (b)		60,372		1,719,394
				58,619,885
Multi-Utilities—1.5%
National Grid plc (ADR) (b)		104,761		5,670,713
Sempra Energy		186,635		27,549,192
				33,219,905
Oil, Gas & Consumable Fuels—4.7%
BP plc (ADR)		156,096		5,930,087
Chevron Corp.		149,645		17,747,897
Concho Resources, Inc.		45,790		3,109,141
Diamondback Energy, Inc.		52,637		4,732,593
Encana Corp.		943,497		4,340,086
Exxon Mobil Corp.		513,221		36,238,535
Marathon Petroleum Corp.		208,974		12,695,171
Noble Energy, Inc. (b)		242,353		5,443,248
Pioneer Natural Resources Co.		28,468		3,580,420
TC Energy Corp.		261,060		13,520,297
				107,337,475
Pharmaceuticals—4.4%
Aerie Pharmaceuticals, Inc. (a) (b)		40,981		787,655
AstraZeneca plc (ADR)		591,525		26,364,269
Bristol-Myers Squibb Co. (b)		336,205		17,048,956
Dermira, Inc. (a)		189,053		1,208,049
Elanco Animal Health, Inc. (a)		48,246		1,282,861
Eli Lilly & Co.		80,270		8,976,594
Kala Pharmaceuticals, Inc. (a) (b)		59,000		224,495
MyoKardia, Inc. (a) (b)		33,381		1,740,819
Nektar Therapeutics (a) (b)		95,314		1,736,144
Odonate Therapeutics, Inc. (a)		40,501		1,054,241
Pfizer, Inc.		896,588		32,214,407
Revance Therapeutics, Inc. (a) (b)		86,665		1,126,645
Satsuma Pharmaceuticals, Inc. (a)		18,400		276,184
Teva Pharmaceutical Industries, Ltd. (ADR) (a) (b)		495,075		3,406,116
Tricida, Inc. (a)		33,587		1,036,831
WAVE Life Sciences, Ltd. (a) (b)		21,200		435,236
				98,919,502
Professional Services—1.3%
Equifax, Inc.		30,163		4,243,029
IHS Markit, Ltd. (a) (b)		234,375		15,675,000
TransUnion (b)		41,413		3,359,009
TriNet Group, Inc. (a)		97,106		6,039,022
				29,316,060
Road & Rail—1.0%
Norfolk Southern Corp.		69,603		12,504,875
Schneider National, Inc. - Class B		34,015		738,806
Road & Rail—(Continued)
Uber Technologies, Inc. (a) (b)		292,672		8,917,716
				22,161,397
Semiconductors & Semiconductor Equipment—3.6%
Advanced Micro Devices, Inc. (a) (b)		487,579		14,134,915
First Solar, Inc. (a) (b)		32,962		1,912,126
Intel Corp.		301,870		15,555,361
KLA Corp.		39,520		6,301,464
Lattice Semiconductor Corp. (a)		362,148		6,621,876
Marvell Technology Group, Ltd. (b)		322,306		8,047,981
Micron Technology, Inc. (a)		243,007		10,412,850
Teradyne, Inc.		67,441		3,905,508
Texas Instruments, Inc.		107,995		13,957,274
				80,849,355
Software—7.2%
Adobe, Inc. (a)		25,028		6,913,985
Atlassian Corp. plc - Class A (a) (b)		4,239		531,740
Guidewire Software, Inc. (a) (b)		35,065		3,695,150
Microsoft Corp.		690,146		95,950,998
Salesforce.com, Inc. (a)		103,275		15,330,141
ServiceNow, Inc. (a)		17,165		4,357,335
Slack Technologies, Inc. - Class A (a) (b)		9,422		223,584
Splunk, Inc. (a)		19,821		2,336,103
SS&C Technologies Holdings, Inc. (b)		376,178		19,399,499
SVMK, Inc. (a) (b)		473,425		8,095,568
Workday, Inc. - Class A (a) (b)		39,527		6,718,009
				163,552,112
Specialty Retail—2.8%
Burlington Stores, Inc. (a) (b)		129,819		25,940,433
Lowe’s Cos., Inc.		150,550		16,554,478
TJX Cos., Inc. (The)		371,704		20,718,781
				63,213,692
Technology Hardware, Storage & Peripherals—2.7%
Apple, Inc.		234,814		52,591,291
Western Digital Corp. (b)		130,912		7,807,592
				60,398,883
Textiles, Apparel & Luxury Goods—1.8%
NIKE, Inc. - Class B		115,795		10,875,466
Under Armour, Inc. - Class A (a) (b)		863,749		17,223,155
Under Armour, Inc. - Class C (a) (b)		679,031		12,310,832
				40,409,453
Thrifts & Mortgage Finance—0.2%
MGIC Investment Corp.		316,434		3,980,740
Trading Companies & Distributors—0.1%
Triton International, Ltd. (b)		85,756		2,901,983
Total Common Stocks (Cost $1,912,919,945)				2,257,395,337

BHFTI-140

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Short-Term Investment—0.3%

Security Description	Principal Amount*		Value
Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $6,492,921; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $6,625,327.		6,492,776	$	6,492,776
Total Short-Term Investments (Cost $6,492,776)				6,492,776
Securities Lending Reinvestments (c)—12.0%
Certificates of Deposit—6.9%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000		2,000,320
Banco Del Estado De Chile New York
2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		4,000,000		3,999,780
2.222%, 1M LIBOR + 0.180%, 10/09/19 (d)		3,000,000		3,000,000
Bank of Montreal (Chicago)
1.990%, SOFR + 0.170%, 02/07/20 (d)		4,000,000		4,000,844
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		5,000,000		4,999,975
Bank of Nova Scotia
2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		5,000,000		4,997,790
2.481%, 3M LIBOR + 0.170%, 01/09/20 (d)		5,000,000		5,002,085
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		5,000,000		4,996,510
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,370
Canadian Imperial Bank of Commerce 2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		1,000,000		1,000,005
Chiba Bank, Ltd.
2.230%, 11/20/19		1,000,000		1,000,006
2.270%, 10/08/19		4,000,000		4,000,112
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		5,000,000		4,997,950
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (d)		5,000,000		5,000,095
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		5,000,000		5,000,715
Credit Industriel et Commercial
2.227%, 1M LIBOR + 0.160%, 03/05/20 (d)		4,000,000		3,998,996
2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		3,000,000		2,999,622
DZ Bank AG
Zero Coupon, 10/18/19		9,939,798		9,989,500
Zero Coupon, 10/23/19		3,976,323		3,994,640
KBC Bank NV
2.080%, 03/12/20		2,000,000		2,000,200
2.220%, 12/03/19		5,000,000		5,001,200
Mizuho Bank, Ltd.
Zero Coupon, 10/23/19		4,970,404		4,993,300
2.174%, 1M LIBOR + 0.120%, 11/27/19 (d)		4,000,000		3,999,924
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		3,000,000		2,999,691
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (d)		2,000,000		2,000,252
Norinchukin Bank, New York Zero Coupon, 10/09/19		1,988,162		1,998,940
Certificates of Deposit—(Continued)
Royal Bank of Canada New York
2.060%, SOFR + 0.240%, 07/08/20 (d)		4,000,000		3,999,680
2.110%, SOFR + 0.290%, 07/16/20 (d)		2,000,000		2,000,630
Societe Generale
2.180%, FEDEFF PRV + 0.350%, 06/19/20 (d)		2,000,000		1,999,706
2.337%, 1M LIBOR + 0.280%, 06/19/20 (d)		2,000,000		2,002,364
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		7,000,000		7,000,119
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		1,000,000		999,995
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (d)		3,000,000		2,999,610
2.179%, 1M LIBOR + 0.140%, 11/12/19 (d)		5,000,000		4,999,750
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 10/17/19		1,973,515		1,998,020
Svenska Handelsbanken AB
2.247%, 1M LIBOR + 0.180%, 06/05/20 (d)		3,000,000		2,998,590
2.266%, 1M LIBOR + 0.220%, 07/22/20 (d)		6,000,000		5,998,152
2.429%, 1M LIBOR + 0.380%, 12/10/19 (d)		2,000,000		2,000,804
Toronto-Dominion Bank 2.180%, FEDEFF PRV + 0.350%, 07/31/20 (d)		2,000,000		1,998,818
Wells Fargo Bank N.A. 2.180%, FEDEFF PRV + 0.350%, 08/20/20 (d)		10,000,000		10,000,000
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		5,000,000		4,999,982
				155,969,042
Commercial Paper—2.2%
Agricultural Bank of China 2.295%, 12/11/19		994,263		995,388
Bank of China, Ltd.
2.290%, 12/09/19		3,479,963		3,484,064
2.470%, 10/11/19		5,964,734		5,995,734
Cafco LLC 2.120%, 10/31/19		2,988,870		2,994,543
China Construction Bank Corp. 2.470%, 10/17/19		2,981,475		2,996,763
Industrial & Commercial Bank of China, Corp.
2.420%, 11/01/19		2,982,253		2,994,222
2.470%, 10/25/19		1,987,376		1,997,272
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		8,000,000		8,001,296
Kells Funding LLC 2.260%, 10/28/19		1,987,068		1,996,959
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		2,000,000		2,001,114
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		4,000,000		4,000,112
Societe Generale 2.555%, 3M LIBOR + 0.410%, 12/18/19 (d)		2,001,696		2,001,830
Thunder Bay Funding LLC 2.167%, 1M LIBOR + 0.100%, 12/05/19 (d)		4,000,000		3,999,600
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		4,000,000		4,000,596
Westpac Banking Corp. 2.194%, 1M LIBOR + 0.150%, 05/29/20 (d)		2,999,630		2,998,467
				50,457,960

BHFTI-141

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Master Demand Notes—0.4%
Natixis Financial Products LLC 2.070%, OBFR + 0.250%, 10/01/19 (d)		10,000,000	$	10,000,000
Mutual Fund—0.1%
SSGA Institutional U.S. Government Money Market Fund 2.050% (e)		1,000,000		1,000,000
Repurchase Agreements—2.4%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $14,282,376; collateralized by various Common Stock with an aggregate market value of $15,620,002.		14,200,000		14,200,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $6,037,260; collateralized by various Common Stock with an aggregate market value of $6,600,677.		6,000,000		6,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $2,004,219; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $700,047; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $714,000.		700,000		700,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $700,047; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $714,000.		700,000		700,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $2,088,543; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $2,130,167.		2,088,399		2,088,399
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $800,044; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $890,402.		800,000		800,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $5,001,964; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $5,557,037.		5,000,000		5,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $9,300,509; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $10,332,876.		9,300,000		9,300,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $1,800,099; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,999,911.		1,800,000		1,800,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $500,194; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $555,531.		500,000		500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,302,061; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,888,628.		5,300,000		5,300,000
				53,388,399
Total Securities Lending Reinvestments (Cost $270,816,742)				270,815,401
Total Investments—111.9% (Cost $2,190,229,463)				2,534,703,514
Other assets and liabilities (net)—(11.9)%				(269,054,498	)
Net Assets—100.0%			$	2,265,649,016

*	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 September 30, 2019, the market value of securities loaned was $268,615,993 and the collateral received consisted of cash in the amount of $270,603,927 and non-cash collateral with a value of $3,369,189. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.
(e)	The rate shown represents the annualized seven-day yield as of September 30, 2019.

BHFTI-142

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Index Abbreviations

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

Other Abbreviations

(ADR)— American Depositary Receipt

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	2,257,395,337	$	—		$	—	$	2,257,395,337
Total Short-Term Investment*		—		6,492,776			—		6,492,776
Total Securities Lending Reinvestments*		—		270,815,401			—		270,815,401
Total Investments	$	2,257,395,337	$	277,308,177		$	—	$	2,534,703,514
Collateral for Securities Loaned (Liability)	$	—	$	(270,603,927	)	$	—	$	(270,603,927	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-143

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—99.2% of Net Assets

Security Description	Shares		Value
Australia—3.7%
Dexus (REIT)		924,774	$	7,450,608
Goodman Group (REIT)		1,104,650		10,570,145
Mirvac Group (REIT)		11,056,281		22,866,343
Scentre Group (REIT)		2,331,422		6,190,177
				47,077,273
Belgium—0.9%
Shurgard Self Storage S.A.		123,756		3,945,569
Warehouses De Pauw CVA (REIT)		42,154		7,738,923
				11,684,492
Canada—2.1%
Canadian Apartment Properties (REIT)		407,386		16,749,304
Chartwell Retirement Residences (REIT)		886,000		9,844,073
				26,593,377
Finland—0.3%
Kojamo Oyj		273,331		4,479,196
France—1.5%
Unibail-Rodamco-Westfield (REIT)		131,936		19,233,743
Germany—3.9%
Alstria Office REIT-AG (REIT)		531,357		9,113,293
Deutsche Euroshop AG		173,017		4,880,576
Grand City Properties S.A.		365,225		8,216,204
LEG Immobilien AG		38,830		4,444,846
TAG Immobilien AG (a)		309,757		7,068,322
Vonovia SE		331,015		16,791,630
				50,514,871
Hong Kong—6.6%
Kerry Properties, Ltd.		1,807,500		5,593,806
Link REIT (The) (REIT)		3,914,600		42,976,221
New World Development Co., Ltd.		6,032,000		7,879,817
Sino Land Co., Ltd.		10,936,000		16,505,622
Wheelock & Co., Ltd.		2,157,000		12,294,563
				85,250,029
Ireland—0.4%
Hibernia REIT plc (REIT)		2,904,894		4,658,868
Japan—12.1%
Aeon Mall Co., Ltd.		298,300		4,723,740
AEON REIT Investment Corp. (REIT)		6,126		8,439,330
GLP J-REIT (REIT)		17,543		23,264,741
Japan Hotel REIT Investment Corp. (REIT)		3,392		2,528,665
Kenedix Retail REIT Corp. (REIT)		1,784		4,470,943
LaSalle Logiport (REIT)		7,243		10,372,898
Mitsubishi Estate Co., Ltd.		632,600		12,249,312
Mitsui Fudosan Co., Ltd.		1,004,474		24,998,954
Mori Hills REIT Investment Corp. (REIT)		7,587		12,042,794
Nippon Prologis REIT, Inc. (REIT)		3,638		9,962,682
Nomura Real Estate Holdings, Inc.		326,600		7,082,607
Orix JREIT, Inc. (REIT)		10,424		22,760,159
Japan—(Continued)
Sankei Real Estate, Inc. (REIT)		3,444		3,816,842
Tokyo Tatemono Co., Ltd.		681,300		9,614,038
				156,327,705
Netherlands—0.5%
InterXion Holding NV (a)		79,902		6,508,817
Norway—0.6%
Entra ASA		477,449		7,488,011
Singapore—2.3%
CapitaLand, Ltd.		6,355,300		16,278,373
Mapletree Logistics Trust (REIT)		11,396,394		13,369,620
				29,647,993
Spain—0.9%
Merlin Properties Socimi S.A. (REIT)		798,838		11,160,535
Sweden—2.8%
Castellum AB		659,920		14,130,745
Fabege AB		849,448		13,994,570
Kungsleden AB		474,236		4,306,413
Pandox AB		151,239		3,015,460
				35,447,188
United Kingdom—4.8%
Big Yellow Group plc (REIT)		474,467		6,062,780
Derwent London plc (REIT)		206,511		8,559,545
Grainger plc		185,125		560,296
Land Securities Group plc (REIT)		527,088		5,550,197
Safestore Holdings plc (REIT)		689,912		5,669,374
Segro plc (REIT)		1,844,076		18,384,123
Tritax EuroBox plc (REIT)		3,294,757		3,848,465
UNITE Group plc (The) (REIT)		963,747		12,940,000
				61,574,780
United States—55.8%
Alexandria Real Estate Equities, Inc. (REIT)		171,270		26,382,431
American Campus Communities, Inc. (REIT)		213,067		10,244,261
Brandywine Realty Trust (REIT)		560,144		8,486,182
Brixmor Property Group, Inc. (REIT) (b)		925,325		18,774,844
Camden Property Trust (REIT)		200,797		22,290,475
Columbia Property Trust, Inc. (REIT)		362,556		7,668,059
Cousins Properties, Inc. (REIT)		454,196		17,073,228
Crown Castle International Corp. (REIT)		76,679		10,659,148
CubeSmart (REIT) (b)		477,153		16,652,640
CyrusOne, Inc. (REIT) (b)		201,341		15,926,073
Douglas Emmett, Inc. (REIT)		306,665		13,134,462
Equinix, Inc. (REIT) (b)		35,357		20,393,918
Equity Residential (REIT) (b)		483,562		41,712,058
Essex Property Trust, Inc. (REIT)		74,733		24,411,534
Extra Space Storage, Inc. (REIT)		276,948		32,353,065
HCP, Inc. (REIT)		639,822		22,796,858
Healthcare Trust of America, Inc. (REIT) - Class A		649,928		19,094,885
Host Hotels & Resorts, Inc. (REIT)		1,091,235		18,867,453

BHFTI-144

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
United States—(Continued)
Hudson Pacific Properties, Inc. (REIT)		492,579	$	16,481,693
Invitation Homes, Inc. (REIT)		1,245,345		36,874,665
Liberty Property Trust (REIT)		195,430		10,031,422
MGM Growth Properties LLC (REIT) - Class A		336,291		10,105,545
Pebblebrook Hotel Trust (REIT)		384,256		10,690,002
Piedmont Office Realty Trust, Inc. (REIT) - Class A		464,085		9,690,095
ProLogis, Inc. (REIT)		744,842		63,475,435
QTS Realty Trust, Inc. (REIT) - Class A (b)		181,524		9,332,149
Regency Centers Corp. (REIT) (b)		204,519		14,212,025
Ryman Hospitality Properties, Inc. (REIT)		74,633		6,105,726
Simon Property Group, Inc. (REIT)		266,407		41,466,250
STORE Capital Corp. (REIT) (b)		603,472		22,575,888
Sun Communities, Inc. (REIT) (b)		102,954		15,283,521
Taubman Centers, Inc. (REIT) (b)		196,499		8,023,054
VEREIT, Inc. (REIT) (b)		3,367,363		32,932,810
VICI Properties, Inc. (REIT) (b)		988,317		22,385,380
Welltower, Inc. (REIT) (b)		456,520		41,383,538
				717,970,772
Total Common Stocks (Cost $1,144,649,232)				1,275,617,650
Short-Term Investment—0.4%
Repurchase Agreement—0.4%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $4,589,257; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $4,682,626.		4,589,155		4,589,155
Total Short-Term Investments (Cost $4,589,155)				4,589,155
Securities Lending Reinvestments (c)—10.7%
Certificates of Deposit—3.9%
ABN AMRO Bank NV 2.120%, 01/10/20		1,000,000		1,000,160
Banco Del Estado De Chile New York 2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		3,000,000		2,999,835
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (d)		2,000,000		1,999,842
Bank of Montreal (Chicago) 2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		3,000,000		2,999,946
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		2,000,000		1,998,604
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		1,000,000		1,000,185
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		1,000,000		1,000,005
2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		1,500,000		1,500,051
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		2,000,000		1,999,180
Certificates of Deposit—(Continued)
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		5,000,000		5,000,715
Credit Industriel et Commercial
2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		1,000,000		999,874
2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		1,500,000		1,500,158
Credit Suisse AG
2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		3,000,000		3,000,000
DZ Bank AG Zero Coupon, 11/18/19		2,982,904		2,991,540
KBC Bank NV
Zero Coupon, 10/25/19		1,974,000		1,997,309
2.220%, 12/03/19		2,000,000		2,000,480
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (d)		3,000,000		2,999,700
Societe Generale
2.180%, FEDEFF PRV + 0.350%, 06/19/20 (d)		1,500,000		1,499,780
2.337%, 1M LIBOR + 0.280%, 06/19/20 (d)		2,000,000		2,002,364
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		2,000,000		2,000,034
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		1,000,000		999,995
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 02/18/20		989,064		991,930
Svenska Handelsbanken AB 2.429%, 1M LIBOR + 0.380%, 12/10/19 (d)		2,000,000		2,000,804
Wells Fargo Bank N.A. 2.180%, FEDEFF PRV + 0.350%, 08/20/20 (d)		3,000,000		3,000,000
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		1,000,000		999,996
				50,482,487
Commercial Paper—0.6%
Agricultural Bank of China 2.295%, 12/11/19		994,263		995,388
Bank of China, Ltd.
2.290%, 12/09/19		994,275		995,447
2.470%, 10/11/19		994,099		999,289
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		2,000,000		2,000,324
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		1,000,000		1,000,028
Societe Generale 2.555%, 3M LIBOR + 0.410%, 12/18/19 (d)		1,000,848		1,000,915
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		1,000,000		1,000,149
				7,991,540
Repurchase Agreements—5.2%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $18,500,987; collateralized by various Common Stock with an aggregate market value of $20,350,003.		18,500,000		18,500,000

BHFTI-145

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $2,004,219; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000	$	2,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,400,093; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,428,001.		1,400,000		1,400,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,300,087; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,326,000.		1,300,000		1,300,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $4,176,173; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $4,259,402.		4,175,883		4,175,883
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $12,461,817; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $13,869,260.		12,461,128		12,461,128
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $200,079; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $222,281.		200,000		200,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $21,601,182; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $23,998,937.		21,600,000		21,600,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $3,500,193; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,888,717.		3,500,000		3,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $300,117; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $333,319.		300,000		300,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $40,016; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $44,442.		40,000		40,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
				67,477,011
Time Deposits—1.0%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		5,000,000		5,000,000
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
Shizuoka Bank, Ltd. 2.250%, 10/18/19		3,000,000		3,000,000
				13,000,000
Total Securities Lending Reinvestments (Cost $138,947,757)				138,951,038
Total Investments—110.3% (Cost $1,288,186,144)				1,419,157,843
Other assets and liabilities (net)—(10.3)%				(132,805,386	)
Net Assets—100.0%			$	1,286,352,457

*	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 September 30, 2019, the market value of securities loaned was $136,160,837 and the collateral received consisted of cash in the amount of $138,906,465. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

BHFTI-146

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Ten Largest Industries as of September 30, 2019 (Unaudited)	% of Net Assets
Residential REIT’s		14.0
Office REIT’s		13.0
Retail REIT’s		12.7
Industrial REIT’s		12.2
Specialized REIT’s		10.8
Diversified REIT’s		8.5
Diversified Real Estate Activities		7.5
Real Estate Operating Companies		7.4
Health Care REITs		6.5
Hotel & Resort REITs		3.8

Glossary of Abbreviations

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(REIT)— Real Estate Investment Trust

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	47,077,273		$	—	$	47,077,273
Belgium		—		11,684,492			—		11,684,492
Canada		26,593,377		—			—		26,593,377
Finland		—		4,479,196			—		4,479,196
France		—		19,233,743			—		19,233,743
Germany		—		50,514,871			—		50,514,871
Hong Kong		—		85,250,029			—		85,250,029
Ireland		—		4,658,868			—		4,658,868
Japan		—		156,327,705			—		156,327,705
Netherlands		6,508,817		—			—		6,508,817
Norway		—		7,488,011			—		7,488,011
Singapore		—		29,647,993			—		29,647,993
Spain		—		11,160,535			—		11,160,535
Sweden		—		35,447,188			—		35,447,188
United Kingdom		—		61,574,780			—		61,574,780
United States		717,970,772		—			—		717,970,772
Total Common Stocks		751,072,966		524,544,684			—		1,275,617,650
Total Short-Term Investment*		—		4,589,155			—		4,589,155
Total Securities Lending Reinvestments*		—		138,951,038			—		138,951,038
Total Investments	$	751,072,966	$	668,084,877		$	—	$	1,419,157,843
Collateral for Securities Loaned (Liability)	$	—	$	(138,906,465	)	$	—	$	(138,906,465	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-147

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—99.1% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.8%
L3Harris Technologies, Inc.		589,770	$	123,049,613
Biotechnology—16.8%
Agios Pharmaceuticals, Inc. (a) (b)		170,800		5,533,920
Amgen, Inc.		510,100		98,709,451
Biogen, Inc. (a)		745,000		173,450,900
ImmunoGen, Inc. (a)		499,700		1,209,274
Ionis Pharmaceuticals, Inc. (a) (b)		498,335		29,855,250
Ultragenyx Pharmaceutical, Inc. (a) (b)		180,820		7,735,480
Vertex Pharmaceuticals, Inc. (a)		639,672		108,373,230
Voyager Therapeutics, Inc. (a)		272,035		4,681,722
				429,549,227
Building Products—2.4%
Johnson Controls International plc (b)		1,406,834		61,745,944
Construction & Engineering—0.4%
Fluor Corp.		507,510		9,708,666
Diversified Telecommunication Services—0.9%
AT&T, Inc.		157,745		5,969,071
GCI Liberty, Inc. - Class A (a) (b)		251,927		15,637,109
				21,606,180
Electronic Equipment, Instruments & Components—5.2%
Dolby Laboratories, Inc. - Class A		295,300		19,088,192
TE Connectivity, Ltd.		1,219,625		113,644,657
				132,732,849
Energy Equipment & Services—1.7%
Core Laboratories NV (b)		514,070		23,965,943
National Oilwell Varco, Inc. (b)		916,878		19,437,814
				43,403,757
Entertainment—4.1%
Liberty Braves Group - Class A (a) (b)		27,348		761,095
Liberty Braves Group - Class C (a)		62,380		1,731,045
Liberty Media Corp-Liberty Formula One - Class A (a) (b)		117,647		4,657,645
Liberty Media Corp.-Liberty Formula One - Class C (a) (b)		235,294		9,785,877
Lions Gate Entertainment Corp. - Class B (a)		348,621		3,046,948
Madison Square Garden Co. (The) - Class A (a)		286,049		75,379,632
Viacom, Inc. - Class B		344,700		8,283,141
				103,645,383
Health Care Equipment & Supplies—2.5%
Medtronic plc		586,379		63,692,487
Health Care Providers & Services—6.7%
UnitedHealth Group, Inc.		784,000		170,378,880
Interactive Media & Services—2.3%
Facebook, Inc. - Class A (a)		75,500		13,445,040
Twitter, Inc. (a)		1,100,000		45,320,000
				58,765,040
Internet & Direct Marketing Retail—0.7%
Qurate Retail, Inc. (a) (b)		1,767,200		18,228,668
IT Services—0.1%
Science Applications International Corp.		25,769		2,250,922
Machinery—0.5%
Pentair plc		339,804		12,844,591
Media—18.3%
AMC Networks, Inc. - Class A (a) (b)		1,425,825		70,093,557
CBS Corp. - Class B		323,200		13,047,584
Comcast Corp. - Class A		5,599,200		252,411,936
Liberty Broadband Corp. - Class A (a) (b)		117,647		12,296,464
Liberty Broadband Corp. - Class C (a) (b)		305,883		32,016,774
Liberty Global plc - Class A (a)		299,400		7,410,150
Liberty Global plc - Class C (a)		299,400		7,122,726
Liberty Media Corp-Liberty SiriusXM - Class A (a)		470,588		19,562,343
Liberty Media Corp-Liberty SiriusXM - Class C (a)		941,176		39,491,745
MSG Networks, Inc. - Class A (a) (b)		858,150		13,919,193
				467,372,472
Metals & Mining—1.0%
Freeport-McMoRan, Inc.		1,270,800		12,161,556
Nucor Corp. (b)		274,700		13,984,977
				26,146,533
Oil, Gas & Consumable Fuels—2.6%
Encana Corp. (b)		8,682,403		39,939,054
Occidental Petroleum Corp.		607,296		27,006,453
				66,945,507
Pharmaceuticals—5.4%
Allergan plc		731,777		123,150,751
Bausch Health Cos., Inc. (a)		653,070		14,269,580
				137,420,331
Semiconductors & Semiconductor Equipment—9.0%
Broadcom, Inc.		436,161		120,410,967
Cree, Inc. (a) (b)		1,062,200		52,047,800
Intel Corp.		1,088,348		56,082,573
				228,541,340
Software—7.6%
Autodesk, Inc. (a)		819,300		121,010,610
Citrix Systems, Inc.		521,100		50,296,572
FireEye, Inc. (a)		690,020		9,204,867
LogMeIn, Inc. (b)		85,873		6,093,548
Nuance Communications, Inc. (a) (b)		400,000		6,524,000
				193,129,597
Technology Hardware, Storage & Peripherals—6.0%
Seagate Technology plc (b)		2,348,500		126,325,815
Western Digital Corp. (b)		444,489		26,509,324
				152,835,139

BHFTI-148

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—0.1%
NOW, Inc. (a) (b)		229,219	$	2,629,142
Total Common Stocks (Cost $1,589,130,251)				2,526,622,268
Short-Term Investment—0.9%
Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $21,840,598; collateralized by U.S. Treasury Note at 2.500%, maturing 01/15/22, with a market value of $22,278,535.		21,840,113		21,840,113
Total Short-Term Investments (Cost $21,840,113)				21,840,113
Securities Lending Reinvestments (c)—15.0%
Certificates of Deposit—6.6%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000		2,000,320
Banco Del Estado De Chile New York 2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		3,000,000		2,999,835
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		4,000,000		3,998,232
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,370
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		8,000,000		8,000,040
2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		10,000,000		10,000,340
Chiba Bank, Ltd.
2.230%, 11/20/19		5,000,000		5,000,030
2.270%, 10/08/19		1,000,000		1,000,028
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		4,000,000		3,998,360
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (d)		4,000,000		4,000,076
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		10,000,000		10,001,430
Credit Industriel et Commercial
2.227%, 1M LIBOR + 0.160%, 03/05/20 (d)		4,000,000		3,998,996
2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		3,000,000		2,999,622
2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		5,000,000		5,000,525
Credit Suisse AG 2.219%, 1M LIBOR + 0.130%, 11/04/19 (d)		4,000,000		3,999,680
DZ Bank AG
Zero Coupon, 10/18/19		9,939,798		9,989,500
Zero Coupon, 10/23/19		1,988,162		1,997,320
KBC Bank NV
Zero Coupon, 10/25/19		4,935,000		4,993,273
2.080%, 03/12/20		2,000,000		2,000,200
2.220%, 12/03/19		5,000,000		5,001,200
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 11/18/19		2,982,865		2,991,540
Certificates of Deposit—(Continued)
Mizuho Bank, Ltd.
Zero Coupon, 10/23/19		2,982,242		2,995,980
2.174%, 1M LIBOR + 0.120%, 11/27/19 (d)		6,000,000		5,999,886
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		1,000,000		999,897
Norinchukin Bank, New York Zero Coupon, 10/09/19		1,988,162		1,998,940
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (d)		5,000,000		4,999,500
Royal Bank of Canada New York 2.060%, SOFR + 0.240%, 07/08/20 (d)		4,000,000		3,999,680
Societe Generale
2.180%, FEDEFF PRV + 0.350%, 06/19/20 (d)		3,000,000		2,999,559
2.337%, 1M LIBOR + 0.280%, 06/19/20 (d)		2,000,000		2,002,364
Standard Chartered Bank 2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		8,000,000		8,000,136
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (d)		3,000,000		2,999,610
2.179%, 1M LIBOR + 0.140%, 11/12/19 (d)		5,000,000		4,999,750
Svenska Handelsbanken AB
2.266%, 1M LIBOR + 0.220%, 07/22/20 (d)		7,000,000		6,997,844
2.344%, 1M LIBOR + 0.300%, 10/31/19 (d)		4,000,000		4,000,576
Toronto-Dominion Bank
2.180%, FEDEFF PRV + 0.350%, 07/31/20 (d)		2,500,000		2,498,523
2.269%, 1M LIBOR + 0.180%, 06/03/20 (d)		3,000,000		2,999,914
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		2,500,000		2,500,583
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		11,000,000		10,999,960
				167,963,619
Commercial Paper—1.7%
Agricultural Bank of China 2.295%, 12/11/19		1,988,525		1,990,776
Bank of China, Ltd.
2.290%, 12/09/19		4,971,375		4,977,235
2.470%, 10/11/19		5,964,734		5,995,734
Cafco LLC 2.120%, 10/31/19		2,988,870		2,994,543
China Construction Bank Corp. 2.470%, 10/17/19		2,981,475		2,996,763
Industrial & Commercial Bank of China, Corp.
2.420%, 11/01/19		6,958,591		6,986,518
2.470%, 10/25/19		1,987,376		1,997,272
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		5,000,000		5,000,810
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		2,000,000		2,001,114
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		3,000,000		3,000,084
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		2,000,000		2,000,298
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (d)		3,000,000		3,000,000
				42,941,147

BHFTI-149

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Master Demand Notes—0.2%
Natixis Financial Products LLC 2.070%, OBFR + 0.250%, 10/01/19 (d)		6,000,000	$	6,000,000
Mutual Fund—0.0%
SSGA Institutional U.S. Government Money Market Fund 2.050% (e)		1,000,000		1,000,000
Repurchase Agreements—6.4%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $10,000,533; collateralized by various Common Stock with an aggregate market value of $11,000,002.		10,000,000		10,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $3,721,464; collateralized by various Common Stock with an aggregate market value of $4,070,001.		3,700,000		3,700,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $2,004,219; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $5,900,393; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $6,018,003.		5,900,000		5,900,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $5,400,360; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $5,508,001.		5,400,000		5,400,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $11,548,428; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $11,778,582.		11,547,626		11,547,626
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $7,083,872; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $7,683,680.		7,000,000		7,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $6,000,332; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $6,678,012.		6,000,000		6,000,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $15,005,892; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $16,671,112.		15,000,000		15,000,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $11,900,777; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $12,138,000.		11,900,000		11,900,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $9,500,520; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $10,555,088.		9,500,000		9,500,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $25,424,368; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $28,246,494.		25,422,970		25,422,970
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $700,272; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $777,743.		700,000		700,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $33,513,028; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $37,220,574.		33,500,000		33,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000

BHFTI-150

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $10,604,122; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $11,777,256.		10,600,000	$	10,600,000
				162,170,596
Time Deposits—0.1%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		1,000,000		1,000,000
Shizuoka Bank, Ltd. 2.250%, 10/18/19		2,000,000		2,000,000
				3,000,000
Total Securities Lending Reinvestments (Cost $383,072,480)				383,075,362
Total Investments—115.0% (Cost $1,994,042,844)				2,931,537,743
Other assets and liabilities (net)—(15.0)%				(381,632,820	)
Net Assets—100.0%			$	2,549,904,923

*	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 September 30, 2019, the market value of securities loaned was $376,913,965 and the collateral received consisted of cash in the amount of $382,827,770. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.
(e)	The rate shown represents the annualized seven-day yield as of September 30, 2019.

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate
(SOFR)—	Secured Overnight Financing 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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	2,526,622,268	$	—		$	—	$	2,526,622,268
Total Short-Term Investment*		—		21,840,113			—		21,840,113
Total Securities Lending Reinvestments*		—		383,075,362			—		383,075,362
Total Investments	$	2,526,622,268	$	404,915,475		$	—	$	2,931,537,743
Collateral for Securities Loaned (Liability)	$	—	$	(382,827,770	)	$	—	$	(382,827,770	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-151

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—96.4% of Net Assets

Security Description	Shares		Value
Australia—2.2%
AMP, Ltd.		16,819,322	$	20,758,707
Brambles, Ltd.		1,768,000		13,620,895
Orica, Ltd.		2,046,867		31,180,081
				65,559,683
Canada—1.7%
Cenovus Energy, Inc.		4,272,165		40,082,282
Open Text Corp.		259,000		10,564,486
				50,646,768
China—1.3%
Baidu, Inc. (ADR) (a)		353,775		36,353,919
Finland—0.8%
UPM-Kymmene Oyj		744,476		22,031,104
France—11.4%
Accor S.A.		1,293,026		53,952,473
BNP Paribas S.A.		2,388,562		116,458,591
Bureau Veritas S.A.		1,103,395		26,606,537
EssilorLuxottica S.A.		174,400		25,158,458
Publicis Groupe S.A. (b)		1,217,805		59,873,604
Valeo S.A.		1,594,100		51,780,057
				333,829,720
Germany—16.7%
Allianz SE		264,700		61,726,953
Bayer AG		1,145,660		80,776,949
Bayerische Motoren Werke AG		1,298,407		91,329,101
Continental AG		763,000		97,949,463
Daimler AG		1,955,393		97,126,084
Henkel AG & Co. KGaA		19,220		1,760,168
ThyssenKrupp AG		4,267,200		59,134,486
				489,803,204
Indonesia—0.7%
Bank Mandiri Persero Tbk PT		41,547,800		20,426,130
Ireland—2.5%
Ryanair Holdings plc (ADR) (a)		1,104,500		73,316,710
Italy—3.9%
Intesa Sanpaolo S.p.A.		47,613,900		113,035,560
Japan—4.5%
Komatsu, Ltd.		2,378,100		54,804,355
Olympus Corp.		1,733,900		23,468,085
Omron Corp.		118,000		6,511,810
Toyota Motor Corp.		717,600		48,132,443
				132,916,693
Mexico—0.8%
Grupo Televisa S.A.B. (ADR) (b)		2,445,008		23,912,178
Netherlands—4.1%
Akzo Nobel NV		75,720		6,755,094
ASML Holding NV		119,750		29,722,184
EXOR NV		923,405		61,956,707
Prosus NV (a)		299,556		21,989,853
				120,423,838
South Africa—1.4%
Naspers, Ltd. - N Shares		267,156		40,588,130
South Korea—3.5%
NAVER Corp.		479,000		62,995,110
Samsung Electronics Co., Ltd.		995,750		40,626,531
				103,621,641
Sweden—5.5%
Hennes & Mauritz AB - B Shares		3,542,400		68,746,105
SKF AB - B Shares		2,477,190		40,994,374
Volvo AB - B Shares		3,559,991		50,062,218
				159,802,697
Switzerland—11.9%
Cie Financiere Richemont S.A.		457,147		33,596,426
Credit Suisse Group AG (a)		8,030,954		98,603,491
Glencore plc (a)		38,491,620		115,965,834
Kuehne & Nagel International AG		200,183		29,504,534
LafargeHolcim, Ltd. (a)		915,248		45,106,665
Nestle S.A.		27,800		3,015,580
Swatch Group AG (The) - Bearer Shares		85,104		22,631,420
				348,423,950
Taiwan—1.1%
Taiwan Semiconductor Manufacturing Co., Ltd.		3,651,000		32,163,248
United Kingdom—22.1%
Ashtead Group plc		1,972,841		54,896,723
CNH Industrial NV (b)		9,093,700		92,730,905
Diageo plc		65,300		2,672,086
Ferguson plc		465,527		34,011,612
G4S plc		10,040,100		23,379,718
Liberty Global plc - Class A (a) (b)		1,181,000		29,229,750
Liberty Global plc - Class C (a)		781,100		18,582,369
Lloyds Banking Group plc		142,074,400		94,745,964
Meggitt plc		1,138,618		8,897,119
Reckitt Benckiser Group plc		326,200		25,439,977
Rolls-Royce Holdings plc (a)		6,413,100		62,456,644
Royal Bank of Scotland Group plc		21,435,801		54,768,950
Schroders plc		1,813,284		68,555,348
Schroders plc (non-voting shares)		10,427		310,821
Smiths Group plc		1,267,207		24,453,387
WPP plc		4,012,955		50,235,185
				645,366,558

BHFTI-152

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
United States—0.3%
Willis Towers Watson plc (b)		51,374	$	9,913,641
Total Common Stocks (Cost $3,186,995,273)				2,822,135,372
Preferred Stock—0.3%
Germany—0.3%
Henkel AG & Co. KGaA (Cost $7,449,574)		73,200		7,247,963
Short-Term Investment—3.1%
Repurchase Agreement—3.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $89,982,054; collateralized by U.S. Treasury Notes with rates ranging from 2.000% - 2.875%, maturity dates ranging from 10/15/21 - 12/31/21, and an aggregate market value of $91,779,893.		89,980,054		89,980,054
Total Short-Term Investments (Cost $89,980,054)				89,980,054
Securities Lending Reinvestments (c)—1.1%
Certificates of Deposit—0.6%
Banco Del Estado De Chile New York 2.222%, 1M LIBOR + 0.180%, 10/09/19 (d)		5,000,000		5,000,000
Credit Industriel et Commercial 2.227%, 1M LIBOR + 0.160%, 03/05/20 (d)		4,000,000		3,998,996
Credit Suisse AG 2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		5,000,000		5,000,000
Societe Generale 2.180%, FEDEFF PRV + 0.350%, 06/19/20 (d)		4,000,000		3,999,412
				17,998,408
Repurchase Agreements—0.4%
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $666,778; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $680,066.		666,731		666,731
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $6,000,380; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $6,120,000.		6,000,000		6,000,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $2,220,120; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,444,336.		2,200,000		2,200,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $4,000,220; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $4,444,248.		4,000,000		4,000,000
				12,866,731
Time Deposits—0.1%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		1,000,000		1,000,000
Nordea Bank New York 1.760%, 10/01/19		1,000,000		1,000,000
				2,000,000
Total Securities Lending Reinvestments (Cost $32,866,731)				32,865,139
Total Investments—100.9% (Cost $3,317,291,632)				2,952,228,528
Other assets and liabilities (net)—(0.9)%				(25,827,627	)
Net Assets—100.0%			$	2,926,400,901

*	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 September 30, 2019, the market value of securities loaned was $32,191,304 and the collateral received consisted of cash in the amount of $32,866,731. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

BHFTI-153

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Ten Largest Industries as of September 30, 2019 (Unaudited)	% of Net Assets
Banks		13.6
Machinery		8.2
Automobiles		8.1
Media		6.2
Metals & Mining		6.0
Capital Markets		5.7
Auto Components		5.1
Interactive Media & Services		3.4
Trading Companies & Distributors		3.0
Diversified Financial Services		2.8

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation
CHF	28,642,000	SSBT		12/18/19		USD	29,280,610	$	387,238

Glossary of Abbreviations

Counterparties

(SSBT)— State Street Bank and Trust

Currencies

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

Index Abbreviations

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

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-154

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	65,559,683		$	—	$	65,559,683
Canada		50,646,768		—			—		50,646,768
China		36,353,919		—			—		36,353,919
Finland		—		22,031,104			—		22,031,104
France		—		333,829,720			—		333,829,720
Germany		—		489,803,204			—		489,803,204
Indonesia		—		20,426,130			—		20,426,130
Ireland		73,316,710		—			—		73,316,710
Italy		—		113,035,560			—		113,035,560
Japan		—		132,916,693			—		132,916,693
Mexico		23,912,178		—			—		23,912,178
Netherlands		21,989,853		98,433,985			—		120,423,838
South Africa		—		40,588,130			—		40,588,130
South Korea		—		103,621,641			—		103,621,641
Sweden		—		159,802,697			—		159,802,697
Switzerland		—		348,423,950			—		348,423,950
Taiwan		—		32,163,248			—		32,163,248
United Kingdom		47,812,119		597,554,439			—		645,366,558
United States		9,913,641		—			—		9,913,641
Total Common Stocks		263,945,188		2,558,190,184			—		2,822,135,372
Total Preferred Stock*		—		7,247,963			—		7,247,963
Total Short-Term Investment*		—		89,980,054			—		89,980,054
Total Securities Lending Reinvestments*		—		32,865,139			—		32,865,139
Total Investments	$	263,945,188	$	2,688,283,340		$	—	$	2,952,228,528
Collateral for Securities Loaned (Liability)	$	—	$	(32,866,731	)	$	—	$	(32,866,731	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	387,238		$	—	$	387,238

* See Schedule of Investments for additional detailed categorizations.

BHFTI-155

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—4.8% of Net Assets

Security Description	Principal Amount*		Value
U.S. Treasury—4.8%
U.S. Treasury Floating Rate Notes
1.849%, 3M USTBMM + 0.000%, 01/31/20 (a)		11,050,000	$	11,044,927
1.882%, 3M USTBMM + 0.033%, 04/30/20 (a)		29,992,000		29,970,835
1.892%, 3M USTBMM + 0.043%, 07/31/20 (a)		28,160,000		28,131,689
Total U.S. Treasury & Government Agencies (Cost $69,202,000)				69,147,451
Municipals—4.1%
Maumelle Arkansas Industrial Development, Revenue Bond 2.150%, 08/01/45 (144A) (a)		20,000,000		20,000,000
New York State Housing Finance Agency, Revenue Bonds
2.250%, 11/01/49 (a)		18,000,000		18,000,000
2.290%, 11/01/49 (a)		21,000,000		21,000,000
Total Municipals (Cost $59,000,000)				59,000,000
Commodity-Linked Securities—1.9%
Canadian Imperial Bank of Commerce Commodity Linked Note, U.S. Federal Funds (Effective) Rate minus 0.020% (linked to Canadian Imperial Bank of Commerce Custom 5 Agriculture Commodity Index, multiplied by 2), 09/22/20 (144A) (a)		6,550,000		6,550,000
Cargill, Inc. Commodity Linked Note, one month LIBOR Rate minus 0.010% (linked to Monthly Rebalance Commodity Excess Return Index, multiplied by 2), 03/20/20 (144A) (a)		13,900,000		11,781,089
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), 09/30/20 (144A) (a)		8,700,000		9,058,492
Total Commodity-Linked Securities (Cost $29,150,000)				27,389,581
Short-Term Investments—84.8%
Certificate of Deposit—6.7%
Bank of Montreal 2.212%, 1M LIBOR + 0.180%, 05/01/20 (a)		30,000,000		29,983,790
Canadian Imperial Bank of Commerce 2.212%, 1M LIBOR + 0.170%, 05/07/20 (a)		25,000,000		24,990,810
Mitsubishi UFJ Trust and Banking Corp. 2.254%, 1M LIBOR + 0.200%, 02/27/20 (a)		28,000,000		27,996,801
Mizuho Securities USA LLC 2.312%, 1M LIBOR + 0.270%, 02/07/20 (a)		15,000,000		15,007,950
				97,979,351
Commercial Paper—54.4%
American Honda Finance Corp.
1.950%, 10/28/19 (b)		15,000,000		14,975,803
2.150%, 11/08/19 (b)		25,000,000		24,944,669
Anglesea Funding plc 2.197%, 1M LIBOR + 0.160%, 01/17/20 (144A) (a)		21,000,000		20,999,998
Commercial Paper—(Continued)
ASB Finance, Ltd. 2.401%, 3M LIBOR + 0.220%, 11/12/19 (144A) (a)		20,000,000		20,004,616
Banco Del Estado De Chile 2.370%, 10/15/19		32,000,000		32,003,799
Banco Santander
2.290%, 10/10/19		15,000,000		15,001,122
Bennington Sark Capital Co. LLC 2.128%, 12/10/19 (144A) (b)		15,000,000		14,937,017
Chevron Corp. 2.010%, 11/06/19 (144A) (b)		26,000,000		25,946,235
Citigroup Global Markets, Inc. 2.350%, 02/04/20 (b)		15,000,000		14,897,765
Coca-Cola Co. (The) 1.950%, 12/03/19 (b)		30,500,000		30,389,061
Collateralized Commercial Paper II Co. 2.224%, 1M LIBOR + 0.170%, 01/27/20 (144A) (a)		30,000,000		30,000,611
Concord Minutemen Capital Co. LLC 2.049%, 10/03/19 (144A) (b)		13,000,000		12,997,795
Crown Point Capital Co. LLC 2.300%, 01/09/20 (144A)		30,000,000		30,011,006
Dexia Credit Local S.A. 2.000%, 03/05/20 (b)		15,000,000		14,858,177
DZ Bank AG
2.140%, 12/19/19 (144A)		15,000,000		14,929,333
2.210%, 11/25/19 (b)		25,000,000		24,917,050
Exxon Mobil Corp.
1.975%, 11/14/19		30,000,000		29,924,438
2.210%, 10/25/19 (b)		15,000,000		14,979,302
Glencove Funding LLC 2.584%, 1M LIBOR + 0.180%, 02/18/20 (144A) (a)		10,000,000		10,000,003
Institutional Secured Funding LLC Zero Coupon, 10/01/19 (144A)		33,000,000		32,998,141
Intel Corp. 2.140%, 12/03/19 (b)		17,000,000		16,937,984
Kells Funding LLC 2.110%, 11/20/19 (144A)		17,000,000		16,951,328
Liberty Funding LLC 2.390%, 10/10/19 (144A) (b)		40,000,000		39,977,100
LMA S.A. & LMA Americas 2.120%, 12/06/19 (144A) (b)		14,000,000		13,946,638
National Australia Bank, Ltd. 2.306%, 1M LIBOR + 0.260%, 06/19/20 (144A) (a)		15,000,000		14,999,543
Nestle Capital Corp.
1.900%, 03/24/20 (144A) (b)		10,000,000		9,907,356
1.930%, 01/03/20 (b)		35,000,000		34,818,510
Old Line Funding LLC 2.250%, 12/17/19 (144A) (b)		40,000,000		39,822,853
PACCAR Financial Corp. 2.080%, 10/17/19 (b)		26,450,000		26,423,446
Pfizer, Inc. 2.060%, 11/19/19 (b)		29,153,000		29,073,760
Sumitomo Mitsui Trust Bank, Ltd. 2.570%, 10/01/19		14,000,000		14,000,204
Toronto-Dominion Bank
2.110%, FEDL01 + 0.280%, 07/07/20 (a)		20,000,000		20,001,499
2.240%, SOFR + 0.420%, 09/30/20 (a)		13,000,000		12,998,187

BHFTI-156

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Shares/ Principal Amount*		Value
Commercial Paper—(Continued)
Total Capital Canada, Ltd.
2.000%, 12/02/19 (144A) (b)		16,000,000	$	15,941,564
2.200%, 10/08/19 (144A) (b)		24,000,000		23,989,211
Westpac Banking Corp. 2.367%, 3M LIBOR + 0.180%, 11/08/19 (144A) (a)		30,000,000		30,008,370
				789,513,494
Mutual Funds—15.0%
STIC (Global Series) plc - U.S. Dollar Liquidity Portfolio, Institutional Class 2.530% (c) (d)		133,215,780		133,215,780
STIT-Government & Agency Portfolio, Institutional Class 2.323% (c) (d)		51,013,564		51,013,564
STIT-Treasury Portfolio, Institutional Class 2.301% (c) (d)		34,009,043		34,009,043
				218,238,387
U.S. Treasury—8.7%
U.S. Treasury Bills
2.025%, 01/09/20 (b)		28,500,000		28,357,282
2.170%, 11/29/19 (b)		63,200,000		63,013,301
2.358%, 11/07/19 (b)		35,500,000		35,437,305
				126,807,888
Total Short-Term Investments (Cost $1,232,444,397)				1,232,539,120
Total Investments—95.6% (Cost $1,389,796,397)				1,388,076,152
Other assets and liabilities (net)—4.4%				63,658,718
Net Assets—100.0%			$	1,451,734,870

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 September 30, 2019.
(d)	Affiliated Issuer.
(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 September 30, 2019, the market value of 144A securities was $465,758,299, which is 32.1% 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		12/16/19		4,265		AUD	628,444,765	$	4,206,197
Brent Crude Oil Futures		11/29/19		445		USD	26,023,600		1,036,223
Canada Government Bond 10 Year Futures		12/18/19		3,595		CAD	512,647,000		(4,868,107	)
Euro STOXX 50 Index Futures		12/20/19		2,690		EUR	95,629,500		1,499,548
FTSE 100 Index Futures		12/20/19		1,258		GBP	92,884,430		1,223,428
Hang Seng Index Futures		10/30/19		520		HKD	677,092,000		(58,426	)
New York Harbor ULSD Futures		02/28/20		156		USD	12,084,509		195,824
RBOB Gasoline Futures		10/31/19		438		USD	28,817,334		(1,525,674	)
Russell 2000 Index E-Mini Futures		12/20/19		870		USD	66,337,500		(2,413,186	)
S&P 500 Index E-Mini Futures		12/20/19		585		USD	87,121,125		(742,675	)
Silver Futures		12/27/19		400		USD	33,996,000		(365,333	)
TOPIX Index Futures		12/12/19		940		JPY	14,927,200,000		4,782,285
U.S. Treasury Long Bond Futures		12/19/19		1,002		USD	162,637,125		(1,094,697	)
United Kingdom Long Gilt Bond Futures		12/27/19		385		GBP	51,682,400		411,371
WTI Light Sweet Crude Oil Futures		12/19/19		236		USD	12,673,200		318,074
Net Unrealized Appreciation								$	2,604,852

BHFTI-157

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Swap Agreements

OTC Total Return Swaps

Pay/Receive Fixed Rate	Fixed Rate	Payment Frequency		Maturity Date	Counterparty	Underlying Reference Instrument	Notional Amount		Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)(1)
Pay	0.330%		Monthly	10/23/19	BBP	Barclays Copper Excess Return Index	USD	2,860,704	$	(71,017	)	$	—	$	(71,017	)
Pay	0.300%		Monthly	04/13/20	CIBC	CIBC Dynamic Roll LME Copper Excess Return Index	USD	29,624,101		(249,890	)		—		(249,890	)
Pay	0.470%		Monthly	02/14/20	CG	Cargill 11 Commodity Index (a)	USD	39,142,254		—			—		—
Pay	0.120%		Monthly	01/02/20	CG	Cargill Gold Index 1	USD	16,896,329		—			—		—
Pay	0.400%		Monthly	02/12/20	GSI	Goldman Sachs Alpha Basket 1103 Excess Return Strategy (b)	USD	17,483,681		793,511			—		793,511
Pay	0.250%		Monthly	04/27/20	JPMC	JPMorgan Contag Gas Oil Class A Excess Return Index	USD	13,470,681		(492,492	)		—		(492,492	)
Pay	0.250%		Monthly	11/12/19	MLI	MLCX Natural Gas Excess Return Index	USD	1,588,372		—			—		—
Pay	0.140%		Monthly	06/19/20	MLI	Merrill Lynch Gold Excess Return Index	USD	24,764,754		—			—		—
Pay	0.380%		Monthly	10/15/19	MSC	S&P GSCI Alminum Dynamic Roll Index	USD	3,545,156		(131,670	)		—		(131,670	)
Pay	0.090%		Monthly	10/15/19	JPMC	S&P GSCI Gold Official Close Index	USD	20,567,687		(786,985	)		—		(786,985	)
Totals									$	(938,543	)	$	—	$	(938,543	)

Cash in the amount of $910,000 has been received at the custodian bank as collateral for OTC swap contracts.

(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 Cargill, Inc., as of September 30, 2019:

Futures Contracts—Long	Notional Value		Component Weighting
Cotton No. 2	$	7,632,739		19.5	%
Sugar No. 11		7,476,171		19.1	%
Soybean Meal		7,397,886		18.9	%
Soybean		7,202,175		18.4	%
Wheat		2,152,824		5.5	%
Corn No. 2 Yellow		2,035,397		5.2	%
Soybean Oil		1,957,113		5.0	%
Coffee “C”		1,917,970		4.9	%
Live Cattle		1,017,699		2.6	%
Lean Hogs		352,280		0.9	%
	$	39,142,254		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 Goldman Sachs International, as of September 30, 2019:

Futures Contracts—Long	Notional Value		Component Weighting
Cotton No. 2	$	3,470,511		19.9	%
Sugar No. 11		3,416,311		19.5	%
Soybean Meal		3,349,873		19.2	%
Soybean		3,292,177		18.8	%
Wheat		872,436		5.0	%
Soybean Oil		826,978		4.7	%
Corn No. 2 Yellow		802,501		4.6	%
Coffee “C”		779,772		4.5	%
Live Cattle		562,975		3.2	%
Lean Hogs		110,147		0.6	%
	$	17,483,681		100.0	%

BHFTI-158

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(CG)—	Cargill, Inc.
(CIBC)—	Canadian Imperial Bank of Commerce
(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.
(MLI)—	Merrill Lynch International
(MSC)—	Morgan Stanely 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

(FEDL01)—	Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate
(USTBMM)—	U.S. Treasury Bill Money Market Yield

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	69,147,451		$	—	$	69,147,451
Total Municipals*		—			59,000,000			—		59,000,000
Total Commodity-Linked Securities		—			27,389,581			—		27,389,581
Short-Term Investments
Certificate of Deposit		—			97,979,351			—		97,979,351
Commercial Paper		—			789,513,494			—		789,513,494
Mutual Funds		218,238,387			—			—		218,238,387
U.S. Treasury		—			126,807,888			—		126,807,888
Total Short-Term Investments*		218,238,387			1,014,300,733			—		1,232,539,120
Total Investments	$	218,238,387		$	1,169,837,765		$	—	$	1,388,076,152
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	13,672,950		$	—		$	—	$	13,672,950
Futures Contracts (Unrealized Depreciation)		(11,068,098	)		—			—		(11,068,098	)
Total Futures Contracts	$	2,604,852		$	—		$	—	$	2,604,852
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	793,511		$	—	$	793,511
OTC Swap Contracts at Value (Liabilities)		—			(1,732,054	)		—		(1,732,054	)
Total OTC Swap Contracts	$	—		$	(938,543	)	$	—	$	(938,543	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-159

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—95.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.3%
Arconic, Inc.		87,386	$	2,272,036
Textron, Inc. (a)		552,255		27,038,405
				29,310,441
Automobiles—2.2%
General Motors Co.		1,360,065		50,975,236
Banks—18.8%
Bank of America Corp.		3,931,427		114,679,726
Citigroup, Inc.		1,722,805		119,011,369
Citizens Financial Group, Inc.		821,940		29,072,018
Fifth Third Bancorp		1,131,486		30,980,087
JPMorgan Chase & Co.		699,410		82,313,563
PNC Financial Services Group, Inc. (The)		155,329		21,770,913
Wells Fargo & Co. (a)		748,083		37,733,306
				435,560,982
Biotechnology—1.3%
Gilead Sciences, Inc.		456,645		28,942,160
Building Products—1.8%
Johnson Controls International plc (a)		972,575		42,686,317
Capital Markets—5.9%
Bank of New York Mellon Corp. (The)		679,328		30,712,419
Goldman Sachs Group, Inc. (The)		147,569		30,580,724
Morgan Stanley		1,003,482		42,818,577
State Street Corp.		533,023		31,549,631
				135,661,351
Chemicals—2.1%
CF Industries Holdings, Inc.		401,394		19,748,585
Corteva, Inc.		988,887		27,688,836
				47,437,421
Communications Equipment—1.8%
Cisco Systems, Inc.		853,626		42,177,661
Consumer Finance—0.7%
Ally Financial, Inc.		512,495		16,994,334
Containers & Packaging—1.4%
International Paper Co. (a)		795,137		33,252,629
Diversified Telecommunication Services—1.7%
AT&T, Inc.		1,053,569		39,867,051
Electrical Equipment—2.9%
Eaton Corp. plc		420,081		34,929,735
Emerson Electric Co.		483,146		32,303,142
				67,232,877
Food Products—1.8%
Archer-Daniels-Midland Co.		740,061		30,394,305
Food Products—(Continued)
Danone S.A.		124,957		11,005,707
				41,400,012
Health Care Equipment & Supplies—0.6%
Medtronic plc		127,163		13,812,445
Health Care Providers & Services—4.5%
Anthem, Inc.		176,352		42,342,115
Cardinal Health, Inc. (a)		406,388		19,177,450
CVS Health Corp. (a)		351,497		22,168,916
McKesson Corp.		154,968		21,177,927
				104,866,408
Hotels, Restaurants & Leisure—1.8%
Carnival Corp.		936,010		40,912,997
Household Products—2.0%
Kimberly-Clark Corp. (a)		183,275		26,034,214
Reckitt Benckiser Group plc		270,611		21,104,652
				47,138,866
Independent Power and Renewable Electricity Producers—0.6%
Vistra Energy Corp.		506,906		13,549,597
Industrial Conglomerates—0.8%
General Electric Co.		1,996,411		17,847,914
Insurance—3.4%
Allstate Corp. (The)		256,516		27,878,159
American International Group, Inc. (a)		902,261		50,255,938
				78,134,097
Internet & Direct Marketing Retail—1.4%
eBay, Inc.		839,586		32,727,062
IT Services—1.0%
Cognizant Technology Solutions Corp. - Class A		383,469		23,109,759
Machinery—1.7%
Caterpillar, Inc. (a)		144,017		18,190,787
Ingersoll-Rand plc		167,343		20,618,331
				38,809,118
Media—3.4%
CBS Corp. - Class B		388,837		15,697,350
Charter Communications, Inc. - Class A (a) (b)		78,376		32,300,317
Comcast Corp. - Class A		673,387		30,356,286
				78,353,953
Oil, Gas & Consumable Fuels—15.8%
BP plc (ADR)		1,328,799		50,481,074
Canadian Natural Resources, Ltd.		873,748		23,247,626
Chevron Corp.		438,661		52,025,194
Devon Energy Corp. (a)		1,219,826		29,349,013

BHFTI-160

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Oil, Gas & Consumable Fuels—(Continued)
Encana Corp.		3,712,621	$	17,078,057
Exxon Mobil Corp. (a)		83,346		5,885,061
Hess Corp.		562,529		34,021,754
Marathon Oil Corp.		2,743,477		33,662,463
Noble Energy, Inc. (a)		1,044,045		23,449,251
Royal Dutch Shell plc - Class A (ADR) (a)		729,316		42,920,246
Suncor Energy, Inc.		1,654,127		52,237,331
				364,357,070
Pharmaceuticals—5.3%
Allergan plc		130,471		21,956,965
Bristol-Myers Squibb Co. (a)		570,389		28,924,426
Mylan NV (b)		781,860		15,465,191
Novartis AG		162,709		14,125,631
Sanofi (ADR)		901,738		41,777,521
				122,249,734
Semiconductors & Semiconductor Equipment—3.8%
Intel Corp.		772,178		39,790,333
NXP Semiconductors NV		94,309		10,290,998
QUALCOMM, Inc. (a)		479,608		36,584,498
				86,665,829
Software—1.7%
Microsoft Corp.		285,840		39,740,335
Specialty Retail—0.8%
Advance Auto Parts, Inc. (a)		48,022		7,942,839
Gap, Inc. (The) (a)		613,666		10,653,242
				18,596,081
Tobacco—2.7%
Philip Morris International, Inc.		821,851		62,403,146
Wireless Telecommunication Services—0.6%
Vodafone Group plc		7,466,544		14,869,541
Total Common Stocks (Cost $1,950,114,399)				2,209,642,424
Short-Term Investment—4.4%
Repurchase Agreement—4.4%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $102,763,323; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $104,818,394.		102,761,039		102,761,039
Total Short-Term Investments (Cost $102,761,039)				102,761,039
Securities Lending Reinvestments (c)—10.1%
Security Description	Principal Amount*		Value
Certificates of Deposit—5.6%
Banco Del Estado De Chile New York 2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		6,500,000		6,499,642
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (d)		2,000,000		1,999,842
Bank of Montreal (Chicago)
2.070%, SOFR + 0.250%, 07/10/20 (d)		2,000,000		2,000,136
2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		2,000,000		1,999,964
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		5,000,000		4,999,975
Bank of Nova Scotia
2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		5,000,000		4,997,790
2.481%, 3M LIBOR + 0.170%, 01/09/20 (d)		5,000,000		5,002,085
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		5,000,000		4,996,510
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		7,000,000		7,000,035
2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		6,000,000		6,000,204
Chiba Bank, Ltd.
2.270%, 10/08/19		3,000,000		3,000,084
2.320%, 10/09/19		3,000,000		3,000,132
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (d)		5,000,000		5,000,095
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		10,000,000		10,001,430
Credit Industriel et Commercial
2.227%, 1M LIBOR + 0.160%, 03/05/20 (d)		3,000,000		2,999,247
2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		2,000,000		1,999,748
2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		4,000,000		4,000,420
Credit Suisse AG 2.219%, 1M LIBOR + 0.130%, 11/04/19 (d)		2,000,000		1,999,840
DZ Bank AG Zero Coupon, 03/10/20		989,594		990,790
KBC Bank NV
Zero Coupon, 10/25/19		6,909,000		6,990,583
2.220%, 12/03/19		5,000,000		5,001,200
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 11/18/19		1,988,577		1,994,360
Nationwide Building Society Zero Coupon, 10/09/19		3,992,647		3,997,880
Royal Bank of Canada New York 2.060%, SOFR + 0.240%, 07/08/20 (d)		3,000,000		2,999,760
Societe Generale 2.280%, FEDEFF PRV + 0.450%, 08/14/20 (d)		1,000,143		1,000,519
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		2,000,000		2,000,034
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		3,000,000		2,999,985
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (d)		3,000,000		2,999,982
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 02/18/20		989,064		991,930
Svenska Handelsbanken AB 2.266%, 1M LIBOR + 0.220%, 07/22/20 (d)		5,000,000		4,998,460
Toronto-Dominion Bank
2.180%, FEDEFF PRV + 0.350%, 07/31/20 (d)		2,500,000		2,498,523
2.269%, 1M LIBOR + 0.180%, 06/03/20 (d)		3,000,000		2,999,914
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		3,000,000		3,000,699

BHFTI-161

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		7,000,000	$	6,999,975
				129,961,773
Commercial Paper—1.6%
Bank of China, Ltd. 2.470%, 10/11/19		2,982,298		2,997,867
Cafco LLC 2.120%, 10/31/19		2,988,870		2,994,543
China Construction Bank Corp.
2.470%, 10/17/19		1,987,650		1,997,842
2.500%, 10/01/19		3,000,000		3,000,024
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		11,000,000		11,001,782
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		6,000,000		5,999,232
Thunder Bay Funding LLC 2.167%, 1M LIBOR + 0.100%, 12/05/19 (d)		3,000,000		2,999,700
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		3,000,000		3,000,447
Westpac Banking Corp. 2.194%, 1M LIBOR + 0.150%, 05/29/20 (d)		3,999,506		3,997,956
				37,989,393
Repurchase Agreements—2.0%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $15,000,800; collateralized by various Common Stock with an aggregate market value of $16,500,003.		15,000,000		15,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,514,503; collateralized by various Common Stock with an aggregate market value of $2,750,000.		2,500,000		2,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $5,031,050; collateralized by various Common Stock with an aggregate market value of $5,500,565.		5,000,000		5,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $9,018,988; collateralized by various Common Stock with an aggregate market value of $9,900,000.		9,000,000		9,000,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $4,945,391; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $5,043,950.		4,945,047		4,945,047
Repurchase Agreements—(Continued)
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $4,047,927; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $4,390,674.		4,000,000		4,000,000
Societe Generale Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $5,000,275; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000		5,000,000
				45,445,047
Time Deposits—0.9%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		10,000,000		10,000,000
Nordea Bank New York 1.760%, 10/01/19		10,000,000		10,000,000
				20,000,000
Total Securities Lending Reinvestments (Cost $233,397,804)				233,396,213
Total Investments—110.1% (Cost $2,286,273,242)				2,545,799,676
Other assets and liabilities (net)—(10.1)%				(233,605,574	)
Net Assets—100.0%			$	2,312,194,102

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $228,417,505 and the collateral received consisted of cash in the amount of $233,272,396. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

BHFTI-162

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	50,168,321	CIBC		10/04/19		USD	37,845,746	$	23,385
CAD	164,412	DBAG		10/04/19		USD	124,037		68
CAD	1,018,892	RBC		10/04/19		USD	770,719		(1,618	)
CAD	1,337,130	RBC		10/04/19		USD	1,007,615		1,706
CHF	178,317	CBNA		10/04/19		USD	178,967		(271	)
CHF	7,025,160	RBC		10/04/19		USD	7,048,186		(8,071	)
EUR	42,969,864	CIBC		10/04/19		USD	46,837,152		4,984
EUR	4,756,701	GSI		10/04/19		USD	5,266,048		(80,692	)
GBP	35,287,039	CIBC		10/04/19		USD	43,438,345		(47,554	)
Contracts to Deliver
CAD	1,593,869	GSI		10/04/19		USD	1,208,210		5,091
CAD	45,435	GSI		10/04/19		USD	34,042		(254	)
CAD	49,347,792	RBC		10/04/19		USD	36,983,213		(266,547	)
CAD	1,701,659	RBC		10/04/19		USD	1,294,698		10,215
CAD	50,171,269	CIBC		11/01/19		USD	37,864,108		(24,448	)
CHF	7,203,477	RBC		10/04/19		USD	7,313,974		95,162
CHF	7,027,402	RBC		11/01/19		USD	7,067,211		7,749
EUR	46,895,768	GSI		10/04/19		USD	51,544,925		423,098
EUR	830,797	RBC		10/04/19		USD	913,109		7,444
EUR	43,526,662	CIBC		11/01/19		USD	47,542,650		(6,491	)
EUR	227,903	GSI		11/01/19		USD	248,827		(137	)
GBP	711,705	JPMC		10/04/19		USD	888,230		13,081
GBP	33,414,937	RBC		10/04/19		USD	40,319,012		(769,744	)
GBP	1,160,397	RBC		10/04/19		USD	1,435,483		8,598
GBP	35,011,160	CIBC		11/01/19		USD	43,145,933		45,426
GBP	546,276	GSI		11/01/19		USD	673,142		648
Net Unrealized Depreciation								$	(559,172	)

Glossary of Abbreviations

Counterparties

(CBNA)—	Citibank N.A.
(CIBC)—	Canadian Imperial Bank of Commerce
(DBAG)—	Deutsche Bank AG
(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
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-163

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	29,310,441	$	—		$	—	$	29,310,441
Automobiles		50,975,236		—			—		50,975,236
Banks		435,560,982		—			—		435,560,982
Biotechnology		28,942,160		—			—		28,942,160
Building Products		42,686,317		—			—		42,686,317
Capital Markets		135,661,351		—			—		135,661,351
Chemicals		47,437,421		—			—		47,437,421
Communications Equipment		42,177,661		—			—		42,177,661
Consumer Finance		16,994,334		—			—		16,994,334
Containers & Packaging		33,252,629		—			—		33,252,629
Diversified Telecommunication Services		39,867,051		—			—		39,867,051
Electrical Equipment		67,232,877		—			—		67,232,877
Food Products		30,394,305		11,005,707			—		41,400,012
Health Care Equipment & Supplies		13,812,445		—			—		13,812,445
Health Care Providers & Services		104,866,408		—			—		104,866,408
Hotels, Restaurants & Leisure		40,912,997		—			—		40,912,997
Household Products		26,034,214		21,104,652			—		47,138,866
Independent Power and Renewable Electricity Producers		13,549,597		—			—		13,549,597
Industrial Conglomerates		17,847,914		—			—		17,847,914
Insurance		78,134,097		—			—		78,134,097
Internet & Direct Marketing Retail		32,727,062		—			—		32,727,062
IT Services		23,109,759		—			—		23,109,759
Machinery		38,809,118		—			—		38,809,118
Media		78,353,953		—			—		78,353,953
Oil, Gas & Consumable Fuels		364,357,070		—			—		364,357,070
Pharmaceuticals		108,124,103		14,125,631			—		122,249,734
Semiconductors & Semiconductor Equipment		86,665,829		—			—		86,665,829
Software		39,740,335		—			—		39,740,335
Specialty Retail		18,596,081		—			—		18,596,081
Tobacco		62,403,146		—			—		62,403,146
Wireless Telecommunication Services		—		14,869,541			—		14,869,541
Total Common Stocks		2,148,536,893		61,105,531			—		2,209,642,424
Total Short-Term Investment*		—		102,761,039			—		102,761,039
Total Securities Lending Reinvestments*		—		233,396,213			—		233,396,213
Total Investments	$	2,148,536,893	$	397,262,783		$	—	$	2,545,799,676
Collateral for Securities Loaned (Liability)	$	—	$	(233,272,396	)	$	—	$	(233,272,396	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	646,655		$	—	$	646,655
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—		(1,205,827	)		—		(1,205,827	)
Total Forward Contracts	$	—	$	(559,172	)	$	—	$	(559,172	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-164

Brighthouse Funds Trust I

Invesco Global Equity Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—97.4% of Net Assets

Security Description	Shares		Value
Brazil—0.5%
StoneCo, Ltd. - Class A (a)		195,230	$	6,790,099
China—1.5%
JD.com, Inc. (ADR) (a)		665,893		18,784,842
France—10.9%
Airbus SE		378,852		49,264,111
Kering S.A.		54,574		27,860,674
LVMH Moet Hennessy Louis Vuitton SE		125,937		50,131,693
Societe Generale S.A.		325,359		8,926,286
				136,182,764
Germany—5.7%
Allianz SE		108,388		25,275,637
Bayer AG		135,312		9,540,431
SAP SE		289,185		33,997,872
Siemens AG		24,648		2,641,367
				71,455,307
India—3.6%
DLF, Ltd.		10,786,455		23,685,098
ICICI Bank, Ltd. (ADR) (b)		1,750,239		21,317,911
				45,003,009
Italy—0.2%
Brunello Cucinelli S.p.A.		92,018		2,867,631
Japan—13.6%
Capcom Co., Ltd.		340,000		8,998,200
FANUC Corp.		71,200		13,506,621
Keyence Corp.		39,000		24,298,449
Minebea Mitsumi, Inc.		289,600		4,627,635
Murata Manufacturing Co., Ltd.		515,200		24,942,284
Nidec Corp.		227,400		30,814,663
Nintendo Co., Ltd.		34,000		12,658,584
Omron Corp.		267,500		14,761,943
Takeda Pharmaceutical Co., Ltd.		318,081		10,898,179
TDK Corp.		278,200		25,147,249
				170,653,807
Netherlands—0.4%
uniQure NV (a)		124,915		4,916,654
Spain—1.6%
Industria de Diseno Textil S.A.		660,928		20,473,076
Sweden—2.3%
Assa Abloy AB - Class B		761,816		16,970,888
Atlas Copco AB - A Shares		370,562		11,407,966
				28,378,854
Switzerland—1.7%
Credit Suisse Group AG (a)		1,020,157		12,525,416
UBS Group AG (a)		811,066		9,220,332
				21,745,748
United Kingdom—4.3%
Farfetch, Ltd. - Class A (a) (b)		378,000		3,265,920
Prudential plc		1,017,003		18,469,746
TechnipFMC plc		139,577		3,334,171
Unilever plc		483,136		29,050,194
				54,120,031
United States—51.1%
3M Co.		53,572		8,807,237
ACADIA Pharmaceuticals, Inc. (a)		233,410		8,400,426
Adobe, Inc. (a)		145,850		40,291,062
Agilent Technologies, Inc.		220,970		16,932,931
Alphabet, Inc. - Class A (a)		73,190		89,375,237
Amazon.com, Inc. (a)		6,344		11,012,613
AnaptysBio, Inc. (a)		21,771		761,767
Anthem, Inc.		123,760		29,714,776
Bluebird Bio, Inc. (a) (b)		52,940		4,860,951
Blueprint Medicines Corp. (a) (b)		97,680		7,176,550
Centene Corp. (a)		201,860		8,732,464
Citigroup, Inc. (b)		444,610		30,713,659
Colgate-Palmolive Co.		358,230		26,333,487
Electronic Arts, Inc. (a)		95,194		9,311,877
Equifax, Inc.		117,360		16,509,031
Facebook, Inc. - Class A (a)		227,770		40,561,282
GlycoMimetics, Inc. (a)		304,520		1,312,481
Goldman Sachs Group, Inc. (The)		41,902		8,683,351
Incyte Corp. (a)		111,120		8,248,438
International Game Technology plc (b)		405,031		5,755,490
Intuit, Inc.		164,810		43,829,571
Ionis Pharmaceuticals, Inc. (a)		150,140		8,994,887
MacroGenics, Inc. (a) (b)		285,870		3,647,701
Maxim Integrated Products, Inc.		502,250		29,085,297
Microsoft Corp.		69,251		9,627,967
Mirati Therapeutics, Inc. (a) (b)		52,446		4,086,068
PayPal Holdings, Inc. (a)		281,256		29,135,309
Ra Pharmaceuticals, Inc. (a) (b)		141,390		3,343,873
resTORbio, Inc. (a) (b)		276,370		2,443,111
S&P Global, Inc.		180,850		44,304,633
Sage Therapeutics, Inc. (a)		84,548		11,861,239
Sarepta Therapeutics, Inc. (a)		63,369		4,772,953
Tiffany & Co. (b)		163,090		15,107,027
United Parcel Service, Inc. - Class B		150,300		18,008,946
Veracyte, Inc. (a)		158,160		3,795,840
Walt Disney Co. (The)		172,240		22,446,317
Zimmer Biomet Holdings, Inc.		93,710		12,863,572
				640,849,421
Total Common Stocks (Cost $846,927,665)				1,222,221,243
Preferred Stock—0.6%
Germany—0.6%
Bayerische Motoren Werke (BMW) AG , (Cost $11,858,319)		132,615		7,358,790

BHFTI-165

Brighthouse Funds Trust I

Invesco Global Equity Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Short-Term Investment—2.0%

Security Description	Principal Amount*		Value
Repurchase Agreement—2.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $25,217,174; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $25,723,839.		25,216,614	$	25,216,614
Total Short-Term Investments (Cost $25,216,614)				25,216,614
Securities Lending Reinvestments (c)—3.9%
Certificates of Deposit—1.3%
Bank of Montreal (Chicago)
2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		2,000,000		1,999,964
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		1,000,000		999,995
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		2,000,000		2,000,010
2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		1,500,000		1,500,051
Chiba Bank, Ltd. 2.270%, 10/08/19		1,000,000		1,000,028
KBC Bank NV Zero Coupon, 10/25/19		2,961,000		2,995,964
Standard Chartered Bank 2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		2,000,000		1,999,990
Sumitomo Mitsui Trust Bank, Ltd. 2.206%, 1M LIBOR + 0.160%, 10/23/19 (d)		4,000,000		4,000,080
				16,496,082
Commercial Paper—0.1%
Industrial & Commercial Bank of China, Corp. 2.470%, 10/25/19		1,987,376		1,997,272
Repurchase Agreements—2.3%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $2,000,107; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $1,206,961; collateralized by various Common Stock with an aggregate market value of $1,320,000.		1,200,000		1,200,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $3,006,329; collateralized by various Common Stock with an aggregate market value of $3,300,000.		3,000,000		3,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $900,060; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $918,000.		900,000		900,000
Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $2,035,881; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $2,076,495.		2,035,779		2,035,779
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $4,000,253; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $4,080,000.		4,000,000		4,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,000,055; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,113,002.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $3,751,473; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $4,167,778.		3,750,000		3,750,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $2,000,131; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $2,600,142; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,888,761.		2,600,000		2,600,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $2,200,121; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,444,336.		2,200,000		2,200,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,400,544; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,555,487.		1,400,000		1,400,000

BHFTI-166

Brighthouse Funds Trust I

Invesco Global Equity Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $3,001,167; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,333,186.		3,000,000	$	3,000,000
				29,085,779
Time Deposit—0.2%
Shizuoka Bank, Ltd. 2.250%, 10/18/19		2,000,000		2,000,000
Total Securities Lending Reinvestments (Cost $49,577,357)				49,579,133
Total Investments—103.9% (Cost $933,579,955)				1,304,375,780
Other assets and liabilities (net)—(3.9)%				(49,022,077	)
Net Assets—100.0%			$	1,255,353,703

*	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 September 30, 2019, the market value of securities loaned was $48,204,239 and the collateral received consisted of cash in the amount of $49,534,155. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 September 30, 2019 (Unaudited)	% of Net Assets
Interactive Media & Services		10.4
Software		10.2
Electronic Equipment, Instruments & Components		7.1
Textiles, Apparel & Luxury Goods		6.4
Biotechnology		6.1
Capital Markets		6.0
Banks		4.9
Entertainment		4.3
Aerospace & Defense		3.9
Insurance		3.5

Glossary of Abbreviations

Index Abbreviations

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

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-167

Brighthouse Funds Trust I

Invesco Global Equity Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Brazil	$	6,790,099	$	—		$	—	$	6,790,099
China		18,784,842		—			—		18,784,842
France		—		136,182,764			—		136,182,764
Germany		—		71,455,307			—		71,455,307
India		21,317,911		23,685,098			—		45,003,009
Italy		—		2,867,631			—		2,867,631
Japan		—		170,653,807			—		170,653,807
Netherlands		4,916,654		—			—		4,916,654
Spain		—		20,473,076			—		20,473,076
Sweden		—		28,378,854			—		28,378,854
Switzerland		—		21,745,748			—		21,745,748
United Kingdom		3,265,920		50,854,111			—		54,120,031
United States		640,849,421		—			—		640,849,421
Total Common Stocks		695,924,847		526,296,396			—		1,222,221,243
Total Preferred Stock*		—		7,358,790			—		7,358,790
Total Short-Term Investment*		—		25,216,614			—		25,216,614
Total Securities Lending Reinvestments*		—		49,579,133			—		49,579,133
Total Investments	$	695,924,847	$	608,450,933		$	—	$	1,304,375,780
Collateral for Securities Loaned (Liability)	$	—	$	(49,534,155	)	$	—	$	(49,534,155	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-168

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—98.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.7%
Aerojet Rocketdyne Holdings, Inc. (a) (b)		150,690	$	7,611,352
BWX Technologies, Inc. (b)		160,265		9,168,761
Cubic Corp.		73,852		5,201,396
TransDigm Group, Inc.		28,223		14,694,869
				36,676,378
Auto Components—1.2%
Fox Factory Holding Corp. (a) (b)		114,247		7,110,733
Visteon Corp. (a) (b)		63,713		5,258,871
				12,369,604
Banks—1.4%
Cullen/Frost Bankers, Inc. (b)		90,089		7,977,381
Sterling Bancorp		290,550		5,828,433
				13,805,814
Beverages—1.0%
Boston Beer Co., Inc. (The) - Class A (a)		28,471		10,365,722
Biotechnology—7.1%
Agios Pharmaceuticals, Inc. (a) (b)		165,455		5,360,742
Amicus Therapeutics, Inc. (a)		734,345		5,889,447
Halozyme Therapeutics, Inc. (a)		640,405		9,932,681
Natera, Inc. (a) (b)		316,422		10,378,642
Neurocrine Biosciences, Inc. (a)		123,462		11,125,161
Repligen Corp. (a)		166,695		12,783,839
Sage Therapeutics, Inc. (a) (b)		64,437		9,039,867
Sarepta Therapeutics, Inc. (a) (b)		83,400		6,281,688
				70,792,067
Building Products—0.1%
Armstrong World Industries, Inc.		9,656		933,735
Capital Markets—4.0%
Cboe Global Markets, Inc.		71,000		8,158,610
Evercore, Inc. - Class A		22,179		1,776,538
LPL Financial Holdings, Inc.		140,064		11,471,242
MarketAxess Holdings, Inc. (b)		32,935		10,786,212
Morningstar, Inc.		53,109		7,761,349
				39,953,951
Chemicals—0.9%
Ingevity Corp. (a)		103,300		8,763,972
Commercial Services & Supplies—4.3%
Brink’s Co. (The)		132,219		10,967,566
Clean Harbors, Inc. (a)		111,125		8,578,850
IAA, Inc. (a)		168,687		7,039,308
KAR Auction Services, Inc. (b)		296,345		7,275,270
MSA Safety, Inc. (b)		78,782		8,595,904
				42,456,898
Construction Materials—1.3%
Martin Marietta Materials, Inc.		48,376		13,259,862
Containers & Packaging—0.7%
Berry Global Group, Inc. (a)		180,201		7,076,493
Distributors—1.2%
Pool Corp.		60,399		12,182,478
Diversified Consumer Services—1.3%
Adtalem Global Education, Inc. (a)		166,594		6,345,566
Strategic Education, Inc.		45,131		6,132,400
				12,477,966
Diversified Telecommunication Services—1.7%
Cogent Communications Holdings, Inc.		169,496		9,339,230
Iridium Communications, Inc. (a)		337,032		7,172,041
				16,511,271
Electrical Equipment—0.7%
Generac Holdings, Inc. (a)		82,229		6,441,820
Electronic Equipment, Instruments & Components—4.7%
Fabrinet (a) (b)		131,938		6,900,357
II-VI, Inc. (a)		178,864		6,297,801
Littelfuse, Inc. (b)		50,798		9,006,993
OSI Systems, Inc. (a)		71,714		7,283,274
Trimble, Inc. (a)		217,418		8,437,993
Zebra Technologies Corp. - Class A (a)		43,261		8,927,773
				46,854,191
Entertainment—1.5%
IMAX Corp. (a)		182,546		4,006,885
Take-Two Interactive Software, Inc. (a)		87,983		11,027,789
				15,034,674
Equity Real Estate Investment Trusts—1.4%
CoreSite Realty Corp. (b)		115,236		14,041,507
Food Products—0.7%
Lancaster Colony Corp.		52,387		7,263,458
Health Care Equipment & Supplies—8.0%
Avanos Medical, Inc. (a)		184,205		6,900,319
DexCom, Inc. (a)		63,079		9,413,910
Glaukos Corp. (a)		101,527		6,346,453
Haemonetics Corp. (a)		58,033		7,320,283
Hill-Rom Holdings, Inc.		94,235		9,916,349
ICU Medical, Inc. (a)		4,735		755,706
Integer Holdings Corp. (a)		93,120		7,036,147
Integra LifeSciences Holdings Corp. (a)		148,493		8,919,974
Masimo Corp. (a)		63,180		9,400,552
Nevro Corp. (a) (b)		75,873		6,522,802
Penumbra, Inc. (a) (b)		55,504		7,464,733
				79,997,228
Health Care Providers & Services—4.2%
BioTelemetry, Inc. (a) (b)		144,890		5,901,369
Chemed Corp.		35,872		14,979,071

BHFTI-169

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
Encompass Health Corp.		150,624	$	9,531,487
HealthEquity, Inc. (a) (b)		209,172		11,953,134
				42,365,061
Health Care Technology—1.4%
HMS Holdings Corp. (a)		242,172		8,346,458
Vocera Communications, Inc. (a) (b)		231,111		5,696,886
				14,043,344
Hotels, Restaurants & Leisure—4.9%
Dunkin’ Brands Group, Inc. (b)		132,333		10,501,947
Jack in the Box, Inc.		64,290		5,858,105
Penn National Gaming, Inc. (a) (b)		393,070		7,320,929
Texas Roadhouse, Inc.		160,699		8,439,911
Wendy’s Co. (The)		477,997		9,550,380
Wingstop, Inc.		85,267		7,442,104
				49,113,376
Insurance—2.4%
eHealth, Inc. (a)		81,355		5,433,700
Hanover Insurance Group, Inc. (The)		77,894		10,557,753
RLI Corp.		87,776		8,155,268
				24,146,721
IT Services—2.4%
Black Knight, Inc. (a)		89,368		5,456,810
Booz Allen Hamilton Holding Corp.		120,945		8,589,514
KBR, Inc.		415,757		10,202,677
				24,249,001
Leisure Products—0.9%
Brunswick Corp.		167,841		8,747,873
Life Sciences Tools & Services—2.3%
Bio-Techne Corp.		66,766		13,064,103
Syneos Health, Inc. (a) (b)		180,312		9,594,402
				22,658,505
Machinery—5.2%
Crane Co.		96,343		7,768,136
Hillenbrand, Inc.		171,653		5,300,645
ITT, Inc.		173,337		10,606,491
John Bean Technologies Corp.		86,015		8,552,471
Kennametal, Inc.		174,786		5,372,922
Timken Co. (The)		153,000		6,657,030
WABCO Holdings, Inc. (a)		53,616		7,171,140
				51,428,835
Multiline Retail — 0.6%
Ollie’s Bargain Outlet Holdings, Inc. (a) (b)		99,492		5,834,211
Oil, Gas & Consumable Fuels — 0.8%
Parsley Energy, Inc. - Class A (b)		467,211		7,849,145
Pharmaceuticals—2.8%
Aerie Pharmaceuticals, Inc. (a) (b)		150,291		2,888,593
Catalent, Inc. (a) (b)		226,790		10,808,812
GW Pharmaceuticals plc (ADR) (a) (b)		58,066		6,679,332
Horizon Therapeutics plc (a)		291,509		7,937,790
				28,314,527
Professional Services—1.0%
CoStar Group, Inc. (a)		16,532		9,806,782
Road & Rail—1.5%
Knight-Swift Transportation Holdings, Inc. (b)		206,222		7,485,858
Old Dominion Freight Line, Inc. (b)		44,679		7,594,090
				15,079,948
Semiconductors & Semiconductor Equipment—5.6%
Lattice Semiconductor Corp. (a)		450,388		8,235,345
MKS Instruments, Inc.		77,308		7,133,982
Monolithic Power Systems, Inc.		62,472		9,722,517
Power Integrations, Inc.		90,664		8,198,745
Semtech Corp. (a)		213,006		10,354,222
Silicon Laboratories, Inc. (a)		112,036		12,475,209
				56,120,020
Software—12.6%
Anaplan, Inc. (a)		171,265		8,049,455
Aspen Technology, Inc. (a)		100,050		12,314,154
Blackline, Inc. (a) (b)		197,100		9,423,351
Fair Isaac Corp. (a)		26,598		8,073,025
Guidewire Software, Inc. (a)		103,892		10,948,139
HubSpot, Inc. (a)		49,724		7,538,656
Pegasystems, Inc.		160,808		10,942,984
Proofpoint, Inc. (a)		61,116		7,887,020
Q2 Holdings, Inc. (a) (b)		216,715		17,092,312
Qualys, Inc. (a) (b)		100,078		7,562,894
RealPage, Inc. (a) (b)		212,429		13,353,287
SailPoint Technologies Holding, Inc. (a) (b)		315,594		5,898,452
Zendesk, Inc. (a)		95,242		6,941,237
				126,024,966
Specialty Retail—1.4%
Five Below, Inc. (a)		75,618		9,535,430
Urban Outfitters, Inc. (a) (b)		173,810		4,882,323
				14,417,753
Textiles, Apparel & Luxury Goods—1.4%
G-III Apparel Group, Ltd. (a)		168,834		4,350,852
Steven Madden, Ltd. (b)		278,676		9,973,814
				14,324,666
Trading Companies & Distributors—0.4%
Univar, Inc. (a)		192,076		3,987,498
Total Common Stocks (Cost $736,550,010)				985,771,321

BHFTI-170

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Short-Term Investment—1.9%

Security Description	Principal Amount*		Value
Repurchase Agreement—1.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $19,042,203; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $19,425,176.		19,041,780	$	19,041,780
Total Short-Term Investments (Cost $19,041,780)				19,041,780
Securities Lending Reinvestments (c)—20.7%
Certificates of Deposit—10.6%
Banco Del Estado De Chile New York 2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		5,000,000		4,999,725
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (d)		3,000,000		2,999,763
Bank of Montreal (Chicago) 2.070%, SOFR + 0.250%, 07/10/20 (d)		1,000,000		1,000,068
2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		4,000,000		3,999,928
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		3,000,000		2,999,985
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		5,000,000		4,997,790
Canadian Imperial Bank of Commerce 2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		2,000,000		2,000,010
2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		2,500,000		2,500,085
Chiba Bank, Ltd. 2.240%, 10/28/19		2,000,000		2,000,156
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		4,000,000		3,998,360
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (d)		4,000,000		4,000,076
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		5,000,000		5,000,715
Credit Industriel et Commercial 2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		2,500,000		2,500,262
Credit Suisse AG 2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		6,000,000		6,000,000
DZ Bank AG Zero Coupon, 10/18/19		4,969,899		4,994,750
Zero Coupon, 11/18/19		1,988,603		1,994,360
Mizuho Bank, Ltd. 2.174%, 1M LIBOR + 0.120%, 11/27/19 (d)		3,000,000		2,999,943
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		3,000,000		2,999,691
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		2,000,000		1,999,680
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (d)		2,000,000		2,000,252
Royal Bank of Canada New York
2.110%, SOFR + 0.290%, 07/16/20 (d)		3,000,000		3,000,945
Societe Generale 2.280%, FEDEFF PRV + 0.450%, 08/14/20 (d)		2,000,286		2,001,038
Standard Chartered Bank 2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		5,000,000		5,000,085
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		5,000,000		4,999,975
Certificates of Deposit—(Continued)
Sumitomo Mitsui Banking Corp. 2.216%, 1M LIBOR + 0.170%, 01/21/20 (d)		3,000,000		2,999,958
2.234%, 1M LIBOR + 0.180%, 01/27/20 (d)		5,000,000		4,999,655
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 02/18/20		1,978,128		1,983,860
Svenska Handelsbanken AB 2.266%, 1M LIBOR + 0.220%, 07/22/20 (d)		2,000,000		1,999,384
2.344%, 1M LIBOR + 0.300%, 10/31/19 (d)		2,000,000		2,000,288
2.429%, 1M LIBOR + 0.380%, 12/10/19 (d)		2,000,000		2,000,804
Toronto-Dominion Bank 2.180%, FEDEFF PRV + 0.350%, 07/31/20 (d)		1,500,000		1,499,114
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		1,000,000		1,000,233
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		6,000,000		5,999,978
				105,470,916
Commercial Paper—3.1%
Bank of China, Ltd. 2.290%, 12/09/19		1,988,550		1,990,894
2.470%, 10/11/19		1,988,199		1,998,578
Cafco LLC 2.120%, 10/31/19		1,992,580		1,996,362
China Construction Bank Corp. 2.500%, 10/01/19		2,000,000		2,000,016
Industrial & Commercial Bank of China, Corp. 2.470%, 10/25/19		2,981,063		2,995,908
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		4,000,000		4,000,648
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		1,000,000		1,000,028
Societe Generale 2.555%, 3M LIBOR + 0.410%, 12/18/19 (d)		4,003,392		4,003,660
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		4,000,000		3,999,488
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		2,000,000		2,000,298
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (d)		5,000,000		5,000,000
				30,985,880
Repurchase Agreements—6.0%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $4,324,945; collateralized by various Common Stock with an aggregate market value of $4,730,001.		4,300,000		4,300,000
Citadel Clearing LLC Repurchase Agreement dated 9/30/19 at 2.430%, due on 12/31/19 with a maturity value of $2,012,420; collateralized by various Common Stock with an aggregate market value of $2,200,226.		2,000,000		2,000,000

BHFTI-171

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $2,300,153; collateralized by U.S. Treasury Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $2,346,001.		2,300,000	$	2,300,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $2,100,140; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $2,142,000.		2,100,000		2,100,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $5,960,287; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $6,079,072.		5,959,873		5,959,873
Morgan Stanley & Co. LLC Repurchase Agreement dated 9/30/19 at 2.370%, due on 03/30/20 with a maturity value of $3,035,945; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $3,293,006.		3,000,000		3,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 9/30/19 at 1.990%, due on 10/01/19 with a maturity value of $2,700,149; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $3,005,105.		2,700,000		2,700,000
Repurchase Agreement dated 9/30/19 at 2.020%, due on 10/07/19 with a maturity value of $1,100,432; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $1,222,548.		1,100,000		1,100,000
Societe Generale
Repurchase Agreement dated 9/30/19 at 1.970%, due on 10/01/19 with a maturity value of $6,600,361; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $7,333,009.		6,600,000		6,600,000
Repurchase Agreement dated 9/30/19 at 1.980%, due on 10/01/19 with a maturity value of $5,600,308; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $6,221,947.		5,600,000		5,600,000
Repurchase Agreement dated 9/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 9/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,101,983; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,666,416.		5,100,000		5,100,000
Repurchase Agreement dated 9/30/19 at 2.000%, due on 10/07/19 with a maturity value of $7,002,722; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $7,777,433.		7,000,000		7,000,000
Repurchase Agreement dated 9/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,001,944; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000		5,000,000
				59,759,873
Time Deposits—1.0%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		5,000,000		5,000,000
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
				10,000,000
Total Securities Lending Reinvestments (Cost $206,216,313)				206,216,669
Total Investments—121.3% (Cost $961,808,103)				1,211,029,770
Other assets and liabilities (net)—(21.3)%				(212,718,158	)
Net Assets—100.0%			$	998,311,612

*	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 September 30, 2019, the market value of securities loaned was $202,616,793 and the collateral received consisted of cash in the amount of $206,150,573. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

BHFTI-172

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Glossary of Abbreviations

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ADR)— American Depositary Receipt

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	985,771,321	$	—		$	—	$	985,771,321
Total Short-Term Investment*		—		19,041,780			—		19,041,780
Total Securities Lending Reinvestments*		—		206,216,669			—		206,216,669
Total Investments	$	985,771,321	$	225,258,449		$	—	$	1,211,029,770
Collateral for Securities Loaned (Liability)	$	—	$	(206,150,573	)	$	—	$	(206,150,573	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-173

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—51.7% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—31.0%
Fannie Mae 10 Yr. Pool 4.500%, 07/01/21		97,397	$	100,287
Fannie Mae 20 Yr. Pool
4.000%, 02/01/31		1,111,845		1,177,657
6.000%, 07/01/28		218,478		241,244
Fannie Mae 30 Yr. Pool
3.500%, 07/01/42		1,172,326		1,234,457
3.500%, 08/01/42		545,856		561,388
4.000%, 06/01/47		1,736,195		1,854,042
4.500%, 02/01/40		395,830		428,915
5.000%, 09/01/35		950,470		1,048,687
6.000%, 12/01/39		264,610		304,526
Fannie Mae ARM Pool 2.569%, 1M LIBOR + 0.480%, 09/01/24 (a)		3,605,832		3,590,563
Fannie Mae Benchmark REMIC (CMO) 5.500%, 06/25/37		745,057		845,643
Fannie Mae Grantor Trust 2.898%, 06/25/27		3,933,284		4,113,636
Fannie Mae Interest Strip (CMO) 4.500%, 11/25/20 (b)		8,084		101
Fannie Mae Pool
2.420%, 05/01/23		5,340,294		5,424,469
2.450%, 11/01/22		3,000,000		3,049,611
2.450%, 09/01/28		4,931,297		5,048,055
2.480%, 10/01/28		9,036,855		9,251,749
2.600%, 09/01/28		993,226		1,025,667
2.640%, 04/01/23		1,795,450		1,836,058
2.640%, 05/01/23		2,143,985		2,193,635
2.690%, 10/01/23		2,000,000		2,057,415
2.700%, 05/01/23		5,000,000		5,127,598
2.720%, 03/01/23		2,927,410		2,998,980
2.730%, 07/01/28		3,000,000		3,127,847
2.810%, 09/01/31		1,517,860		1,611,546
2.890%, 05/01/27		1,887,688		1,986,067
2.920%, 12/01/24		1,000,000		1,047,264
2.970%, 06/01/30		2,750,000		2,926,947
2.980%, 09/01/36		1,481,690		1,580,828
3.000%, 01/01/43		3,382,347		3,483,876
3.110%, 12/01/24		1,500,000		1,584,867
3.180%, 06/01/30		3,325,996		3,553,745
3.235%, 10/01/26		1,370,124		1,468,806
3.240%, 12/01/26		1,500,000		1,609,183
3.260%, 12/01/26		953,651		1,026,583
3.290%, 08/01/26		2,000,000		2,157,366
3.320%, 03/01/29		2,459,151		2,670,104
3.340%, 02/01/27		1,500,000		1,621,597
3.380%, 12/01/23		1,944,127		2,052,770
3.440%, 11/01/21		3,672,093		3,766,457
3.450%, 01/01/24		958,943		1,016,208
3.490%, 09/01/23		3,761,730		3,973,920
3.500%, 08/01/26		218,694		224,973
3.500%, 02/01/33		3,586,843		3,708,264
3.500%, 05/01/33		3,626,342		3,749,294
3.500%, 07/01/43		2,632,775		2,759,411
3.530%, 08/01/28		7,376,000		8,137,557
3.550%, 02/01/30		1,500,000		1,665,367
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae Pool
3.560%, 03/01/24		6,895,500		7,352,289
3.563%, 01/01/21		5,337,427		5,425,196
3.570%, 07/01/26		4,000,000		4,364,982
3.570%, 07/01/28		4,929,708		5,439,584
3.630%, 10/01/29		1,390,891		1,544,685
3.660%, 10/01/28		4,637,036		5,139,350
3.670%, 07/01/23		2,500,000		2,656,174
3.730%, 07/01/22		4,533,099		4,688,032
3.740%, 07/01/30		2,911,638		3,274,601
3.760%, 11/01/23		1,071,861		1,146,496
3.770%, 12/01/20		2,119,775		2,145,091
3.800%, 07/01/30		4,013,000		4,546,463
3.817%, 05/01/22		6,670,812		6,861,769
3.970%, 07/01/21		4,393,565		4,510,700
3.970%, 08/01/33		5,180,369		5,702,260
3.990%, 02/01/28		1,679,914		1,881,621
4.000%, 10/01/32		1,360,623		1,433,922
4.000%, 12/01/40		357,490		379,432
4.000%, 07/01/42		2,017,153		2,146,956
Fannie Mae REMICS (CMO)
Zero Coupon, 09/25/43 (c)		1,594,380		1,398,207
Zero Coupon, 10/25/43 (c)		818,475		722,967
Zero Coupon, 12/25/43 (c)		1,784,188		1,587,310
2.518%, 1M LIBOR + 0.500%, 10/25/42 (a)		725,648		729,832
2.618%, 1M LIBOR + 0.600%, 10/25/43 (a)		1,929,613		1,941,365
2.618%, 1M LIBOR + 0.600%, 12/25/43 (a)		2,128,066		2,132,027
2.645%, 1M LIBOR + 0.500%, 05/25/35 (a)		1,148,765		1,150,710
2.918%, 1M LIBOR + 0.900%, 03/25/38 (a)		246,660		252,674
2.995%, 03/25/27 (a)		119,137		119,761
3.018%, 1M LIBOR + 1.000%, 08/25/32 (a)		596,677		612,888
3.500%, 02/25/43		4,367,376		4,652,121
4.512%, -1 x 1M LIBOR + 6.530%, 01/25/41 (a) (b)		3,684,806		769,598
5.000%, 03/25/40		4,949,888		5,454,265
5.500%, 12/25/35		1,067,984		1,218,851
6.000%, 01/25/36		1,024,810		1,228,973
6.500%, 07/18/28		119,713		133,187
Fannie Mae-ACES (CMO)
2.207%, 01/25/22		10,000,000		10,019,661
2.488%, 05/25/26		1,600,000		1,629,681
2.566%, 12/25/26 (a)		4,800,000		4,894,766
2.723%, 10/25/24		2,000,000		2,057,564
3.061%, 05/25/27 (a)		3,090,000		3,267,321
3.103%, 07/25/24 (a)		1,394,000		1,455,295
3.144%, 03/25/28 (a)		2,098,000		2,224,914
3.184%, 06/25/27 (a)		3,216,000		3,411,935
3.193%, 02/25/30 (a)		1,504,000		1,601,707
3.298%, 04/25/29 (a)		2,736,000		2,943,543
3.346%, 03/25/24 (a)		2,500,000		2,621,074
3.497%, 07/25/28 (a)		3,757,000		4,084,563
3.501%, 01/25/24 (a)		1,981,754		2,087,426
3.673%, 09/25/28 (a)		3,075,000		3,399,442
3.776%, 08/25/30 (a)		4,500,000		5,035,491
Freddie Mac 20 Yr. Gold Pool 3.500%, 03/01/32		1,009,396		1,050,881

BHFTI-174

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (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%, 08/01/42		3,295,237	$	3,531,719
4.000%, 05/01/43		455,028		473,611
4.000%, 06/01/43		404,193		420,698
4.000%, 08/01/43		5,475,776		5,860,118
5.000%, 08/01/39		691,120		764,000
Freddie Mac ARM Non-Gold Pool 4.610%, 12M LIBOR + 1.841%, 07/01/40 (a)		1,051,244		1,108,675
Freddie Mac Gold Pool
3.500%, 12/01/32		3,101,712		3,208,848
3.500%, 01/01/33		4,835,174		5,001,383
3.500%, 03/01/33		4,939,762		5,110,757
3.500%, 04/01/33		6,080,852		6,288,110
3.500%, 05/01/33		2,779,538		2,875,620
3.500%, 06/01/43		2,856,794		2,996,285
4.000%, 09/01/32		727,232		762,371
4.000%, 11/01/32		2,907,146		3,065,592
4.000%, 12/01/32		1,389,328		1,465,098
4.000%, 01/01/33		504,053		528,693
4.000%, 02/01/33		381,359		399,726
4.000%, 01/01/46		2,456,338		2,616,926
5.000%, 02/01/34		344,839		370,903
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
2.522%, 01/25/23		2,085,000		2,110,419
2.838%, 09/25/22		1,627,581		1,661,666
3.117%, 06/25/27		2,487,000		2,660,357
3.243%, 04/25/27		1,996,000		2,150,651
3.303%, 11/25/27 (a)		1,755,000		1,901,524
3.326%, 05/25/27		1,072,000		1,157,295
3.336%, 04/25/28 (a)		1,790,000		1,927,888
3.490%, 01/25/24		4,000,000		4,227,130
3.690%, 01/25/29		3,480,000		3,900,527
3.850%, 05/25/28 (a)		7,385,000		8,268,619
3.900%, 08/25/28 (a)		3,170,000		3,588,534
Freddie Mac REMICS (CMO)
2.478%, 1M LIBOR + 0.450%, 08/15/42 (a)		4,099,241		4,072,672
2.708%, 1M LIBOR + 0.680%, 11/15/37 (a)		687,834		697,436
2.728%, 1M LIBOR + 0.700%, 03/15/24 (a)		264,363		266,700
3.000%, 02/15/26		1,194,989		1,222,427
3.378%, 1M LIBOR + 1.350%, 03/15/38 (a)		600,000		637,254
3.500%, 08/15/39		1,679,112		1,723,480
3.500%, 06/15/48		3,969,874		4,073,534
4.343%, -1 x 1M LIBOR + 6.370%, 10/15/37 (a) (b)		3,205,113		517,827
4.373%, -1 x 1M LIBOR + 6.400%, 11/15/36 (a) (b)		1,900,668		145,288
5.000%, 08/15/35		1,501,828		1,685,824
6.000%, 07/15/35		3,849,128		4,313,523
6.000%, 03/15/36		3,068,371		3,637,157
6.500%, 05/15/28		271,703		301,020
6.500%, 03/15/37		620,579		712,232
Freddie Mac Strips (CMO)
Zero Coupon, 09/15/43 (c)		858,700		768,453
3.000%, 01/15/43		4,378,606		4,585,655
FREMF Mortgage Trust (CMO)
3.696%, 11/25/49 (144A) (a)		1,700,000		1,770,975
3.800%, 11/25/49 (144A) (a)		2,000,000		2,074,479
3.973%, 07/25/49 (144A) (a)		1,635,000		1,706,640
4.209%, 11/25/47 (144A) (a)		1,577,000		1,660,372
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae II ARM Pool 3.875%, 1Y H15 + 1.500%, 04/20/41 (a)		333,163		347,455
Ginnie Mae II Pool 4.393%, 04/20/63 (a)		2,795,952		2,842,466
Government National Mortgage Association (CMO)
1.650%, 02/20/63		6,356,239		6,325,012
1.650%, 04/20/63		4,426,915		4,392,992
2.529%, 1M LIBOR + 0.300%, 11/20/62 (a)		19,543		19,494
2.544%, 1M LIBOR + 0.500%, 09/20/37 (a)		191,308		192,415
2.629%, 1M LIBOR + 0.400%, 02/20/62 (a)		449,809		448,603
2.639%, 1M LIBOR + 0.410%, 03/20/63 (a)		594,054		593,050
2.649%, 1M LIBOR + 0.420%, 02/20/63 (a)		1,314,226		1,311,100
2.679%, 1M LIBOR + 0.450%, 02/20/63 (a)		5,288,622		5,284,634
2.699%, 1M LIBOR + 0.470%, 03/20/63 (a)		2,697,739		2,697,118
2.699%, 1M LIBOR + 0.470%, 07/20/64 (a)		3,238,273		3,237,517
2.699%, 1M LIBOR + 0.470%, 09/20/64 (a)		1,477,772		1,476,948
2.709%, 1M LIBOR + 0.480%, 04/20/63 (a)		6,474,102		6,474,322
2.729%, 1M LIBOR + 0.500%, 01/20/63 (a)		114,284		114,315
2.729%, 1M LIBOR + 0.500%, 04/20/63 (a)		4,782,677		4,785,104
2.729%, 1M LIBOR + 0.500%, 07/20/64 (a)		863,341		863,773
2.779%, 1M LIBOR + 0.550%, 04/20/62 (a)		42,037		42,053
2.807%, 1M LIBOR + 0.300%, 08/20/60 (a)		4,677		4,668
2.829%, 1M LIBOR + 0.600%, 04/20/64 (a)		6,603,341		6,631,810
2.847%, 1M LIBOR + 0.400%, 12/20/62 (a)		1,696,590		1,690,401
2.879%, 1M LIBOR + 0.650%, 07/20/63 (a)		4,721,496		4,735,793
2.879%, 1M LIBOR + 0.650%, 01/20/64 (a)		1,181,942		1,186,875
2.879%, 1M LIBOR + 0.650%, 02/20/64 (a)		4,009,926		4,027,066
2.879%, 1M LIBOR + 0.650%, 03/20/64 (a)		1,272,637		1,277,512
2.919%, 1M LIBOR + 0.690%, 02/20/64 (a)		1,593,683		1,606,008
2.929%, 1M LIBOR + 0.700%, 09/20/63 (a)		3,352,839		3,369,042
2.979%, 1M LIBOR + 0.750%, 09/20/63 (a)		3,647,052		3,667,463
3.007%, 1M LIBOR + 0.500%, 06/20/64 (a)		4,490,532		4,492,769
3.007%, 1M LIBOR + 0.500%, 07/20/64 (a)		1,154,973		1,155,552
3.107%, 1M LIBOR + 0.600%, 04/20/64 (a)		3,972,618		3,984,366
3.229%, 1M LIBOR + 1.000%, 12/20/66 (a)		1,471,327		1,493,972
4.492%, 04/20/43 (a)		1,538,475		1,651,109
4.500%, 01/16/25		1,068,733		1,140,597
4.779%, 11/20/42 (a)		6,272,859		6,928,625
5.000%, 12/20/33		1,096,014		1,213,476
5.000%, 09/20/38		536,316		538,692
5.000%, 06/16/39		356,045		376,592
5.000%, 07/20/39		2,132,866		2,371,694
5.000%, 10/20/39		2,273,189		2,584,931
5.163%, 06/20/40 (a)		2,672,140		2,966,067
5.500%, 07/16/33 (b)		799,742		122,890
				480,197,865
Federal Agencies—0.8%
Residual Funding Corp. Principal Strip Zero Coupon, 07/15/20		3,119,000		3,072,119
Tennessee Valley Authority
5.880%, 04/01/36		1,600,000		2,322,043
6.235%, 07/15/45		4,250,000		4,382,769
Tennessee Valley Authority Generic Strip Zero Coupon, 03/15/32		1,000,000		739,030

BHFTI-175

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Federal Agencies—(Continued)
Tennessee Valley Authority Principal Strip
Zero Coupon, 11/01/25		1,000,000	$	884,564
Zero Coupon, 06/15/35		750,000		495,537
				11,896,062
U.S. Treasury—19.9%
U.S. Treasury Bonds
2.250%, 08/15/46		1,070,000		1,098,088
2.500%, 02/15/45		7,350,000		7,915,031
2.750%, 08/15/42		3,300,000		3,708,246
2.750%, 11/15/42		1,250,000		1,403,662
2.750%, 08/15/47		8,000,000		9,061,875
2.875%, 05/15/43		21,165,000		24,282,704
2.875%, 08/15/45		7,700,000		8,879,664
2.875%, 05/15/49		27,000		31,516
3.000%, 02/15/48		470,000		558,492
3.125%, 11/15/41		3,480,000		4,150,172
3.125%, 05/15/48		1,942,000		2,362,337
3.500%, 02/15/39		450,000		564,064
3.625%, 08/15/43 (d)		6,400,000		8,260,000
3.625%, 02/15/44		4,325,000		5,595,131
3.750%, 11/15/43		3,581,000		4,713,631
3.875%, 08/15/40		4,230,000		5,595,662
4.250%, 05/15/39		200,000		275,648
4.250%, 11/15/40		2,383,000		3,309,391
4.375%, 11/15/39		10,650,000		14,949,522
4.375%, 05/15/40		2,500,000		3,518,555
4.375%, 05/15/41		1,200,000		1,697,344
5.250%, 02/15/29		500,000		655,195
6.000%, 02/15/26		2,525,000		3,195,210
U.S. Treasury Coupon Strips
Zero Coupon, 11/15/21		1,285,000		1,240,230
Zero Coupon, 05/15/22 (d)		4,560,000		4,368,578
Zero Coupon, 08/15/22 (d)		1,800,000		1,718,604
Zero Coupon, 11/15/22 (d)		1,250,000		1,188,818
Zero Coupon, 02/15/23		3,035,000		2,874,747
Zero Coupon, 05/15/23		47,445,000		44,761,208
Zero Coupon, 08/15/23		2,220,000		2,086,770
Zero Coupon, 11/15/23		2,300,000		2,154,066
Zero Coupon, 02/15/24		4,900,000		4,570,802
Zero Coupon, 08/15/24 (d)		2,500,000		2,311,992
Zero Coupon, 11/15/24		1,500,000		1,381,595
Zero Coupon, 02/15/25		2,000,000		1,832,714
Zero Coupon, 05/15/25		5,500,000		5,014,440
Zero Coupon, 08/15/25		648,000		588,344
Zero Coupon, 11/15/26		366,129		324,646
Zero Coupon, 08/15/27		400,000		349,754
Zero Coupon, 11/15/27		570,000		496,232
Zero Coupon, 05/15/28		15,030,000		12,934,267
Zero Coupon, 08/15/28		250,000		214,387
Zero Coupon, 02/15/30		6,300,000		5,227,721
Zero Coupon, 05/15/30		700,000		577,995
Zero Coupon, 08/15/30		3,925,000		3,220,010
Zero Coupon, 11/15/30		5,425,000		4,427,251
Zero Coupon, 02/15/31 (d)		1,775,000		1,442,267
U.S. Treasury—(Continued)
U.S. Treasury Coupon Strips
Zero Coupon, 08/15/31		7,800,000		6,258,457
Zero Coupon, 11/15/31		3,000,000		2,393,319
Zero Coupon, 02/15/32		12,900,000		10,237,383
Zero Coupon, 05/15/32		12,800,000		10,096,593
Zero Coupon, 08/15/32		6,900,000		5,409,538
Zero Coupon, 08/15/33 (d)		400,000		306,164
Zero Coupon, 11/15/33 (d)		13,000,000		9,887,888
Zero Coupon, 02/15/34 (d)		4,400,000		3,326,615
Zero Coupon, 08/15/34		5,000,000		3,733,762
Zero Coupon, 05/15/35		4,000,000		2,931,634
U.S. Treasury Inflation Indexed Bond 1.750%, 01/15/28 (e)		612,320		688,599
U.S. Treasury Inflation Indexed Note 0.125%, 01/15/22 (e)		1,700,295		1,684,147
U.S. Treasury Notes
1.625%, 02/15/26		782,300		782,636
1.750%, 02/28/22		100,000		100,316
2.000%, 06/30/24		2,308,000		2,353,078
2.000%, 11/15/26		910,000		933,212
2.125%, 02/29/24		663,000		678,798
2.250%, 04/15/22		9,000,000		9,141,680
2.750%, 05/31/23		663,000		690,582
2.750%, 02/15/24		2,300,000		2,414,461
2.875%, 04/30/25		450,000		480,727
2.875%, 05/31/25		4,920,000		5,259,403
2.875%, 05/15/28		6,936,100		7,613,995
				308,491,565
Total U.S. Treasury & Government Agencies (Cost $765,173,565)				800,585,492
Corporate Bonds & Notes—25.8%
Aerospace/Defense—0.6%
Airbus Finance B.V. 2.700%, 04/17/23 (144A)		249,000		252,925
BAE Systems plc 4.750%, 10/11/21 (144A)		1,000,000		1,043,589
Boeing Co. (The) 3.950%, 08/01/59		1,000,000		1,102,020
L3Harris Technologies, Inc. 3.832%, 04/27/25		600,000		640,849
Lockheed Martin Corp. 4.500%, 05/15/36		450,000		539,089
Northrop Grumman Corp. 3.850%, 04/15/45		182,000		200,577
Northrop Grumman Systems Corp. 7.750%, 02/15/31		350,000		508,957
Rockwell Collins, Inc.
3.200%, 03/15/24		251,000		260,722
4.350%, 04/15/47		133,000		155,650
United Technologies Corp.
3.750%, 11/01/46		550,000		604,000
3.950%, 08/16/25		215,000		235,367

BHFTI-176

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Aerospace/Defense—(Continued)
United Technologies Corp.
4.450%, 11/16/38		240,000	$	285,743
4.500%, 06/01/42		550,000		659,812
7.500%, 09/15/29		1,568,000		2,202,292
				8,691,592
Agriculture—0.1%
BAT Capital Corp. 4.390%, 08/15/37		68,000		66,020
Reynolds American, Inc. 7.000%, 08/04/41		570,000		706,180
				772,200
Airlines—0.6%
Air Canada Pass-Through Trust
3.300%, 01/15/30 (144A)		485,786		501,027
3.550%, 01/15/30 (144A)		688,829		702,282
4.125%, 05/15/25 (144A)		876,365		928,158
British Airways Pass-Through Trust
3.300%, 12/15/32 (144A)		565,000		589,023
3.800%, 09/20/31 (144A)		631,639		667,769
4.125%, 09/20/31 (144A)		843,312		887,838
Continental Airlines Pass-Through Trust 4.000%, 10/29/24		145,435		153,085
Spirit Airlines Pass-Through Trust 3.375%, 02/15/30		282,852		294,854
United Airlines Pass-Through Trust
3.500%, 03/01/30		1,243,236		1,300,854
3.700%, 03/01/30		636,943		661,464
4.000%, 04/11/26		466,172		494,795
4.150%, 08/25/31		1,400,000		1,528,455
4.300%, 08/15/25		627,708		678,005
4.600%, 03/01/26		312,403		325,645
				9,713,254
Auto Manufacturers—0.2%
General Motors Financial Co., Inc.
3.500%, 11/07/24		695,000		703,653
3.950%, 04/13/24		1,200,000		1,234,861
4.300%, 07/13/25		1,360,000		1,415,124
				3,353,638
Banks—6.7%
ABN AMRO Bank NV 4.750%, 07/28/25 (144A)		500,000		537,993
AIB Group plc 4.750%, 10/12/23 (144A) (d)		1,340,000		1,417,165
ANZ New Zealand International, Ltd. 2.850%, 08/06/20 (144A)		250,000		251,751
ASB Bank, Ltd. 3.125%, 05/23/24 (144A)		685,000		706,319
Australia & New Zealand Banking Group, Ltd. 4.400%, 05/19/26 (144A)		200,000		214,240
Banks—(Continued)
Bank of America Corp.
2.503%, 10/21/22		120,000		120,884
2.881%, 3M LIBOR + 1.021%, 04/24/23 (a)		210,000		213,162
3.004%, 3M LIBOR + 0.790%, 12/20/23 (a)		2,141,000		2,186,625
3.124%, 3M LIBOR + 1.160%, 01/20/23 (a)		2,043,000		2,083,855
3.366%, 3M LIBOR + 0.810%, 01/23/26 (a)		600,000		625,521
3.499%, 3M LIBOR + 0.630%, 05/17/22 (a)		312,000		318,180
3.550%, 3M LIBOR + 0.780%, 03/05/24 (a)		2,562,000		2,664,372
3.705%, 3M LIBOR + 1.512%, 04/24/28 (a)		2,500,000		2,662,608
3.970%, 3M LIBOR + 1.070%, 03/05/29 (a)		1,400,000		1,524,421
4.000%, 01/22/25		1,071,000		1,137,681
4.078%, 3M LIBOR + 1.320%, 04/23/40 (a)		555,000		619,242
4.250%, 10/22/26		520,000		563,452
4.330%, 3M LIBOR + 1.520%, 03/15/50 (a)		555,000		655,713
Bank of Montreal
2.350%, 09/11/22 (d)		500,000		505,717
3.803%, 5 Y USD ICE Swap + 1.432%, 12/15/32 (a)		433,000		449,077
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) 4.100%, 09/09/23 (144A)		364,000		387,998
Banque Federative du Credit Mutuel S.A. 3.750%, 07/20/23 (144A)		1,070,000		1,126,111
Barclays plc
3.650%, 03/16/25		254,000		259,944
4.338%, 3M LIBOR + 1.356%, 05/16/24 (a)		500,000		522,338
5.200%, 05/12/26		250,000		265,571
BNP Paribas S.A. 3.500%, 03/01/23 (144A)		400,000		412,889
BNZ International Funding, Ltd.
2.650%, 11/03/22 (144A)		842,000		850,984
2.900%, 02/21/22 (144A)		300,000		304,511
BPCE S.A.
3.375%, 12/02/26		700,000		730,811
4.625%, 07/11/24 (144A)		400,000		426,313
Canadian Imperial Bank of Commerce 2.100%, 10/05/20		200,000		200,237
Capital One Financial Corp.
3.750%, 07/28/26 (d)		860,000		894,432
4.200%, 10/29/25		200,000		213,151
Citigroup, Inc.
3.142%, 3M LIBOR + 0.722%, 01/24/23 (a)		667,000		679,361
3.668%, 3M LIBOR + 1.390%, 07/24/28 (a)		700,000		740,899
3.700%, 01/12/26		250,000		265,096
3.875%, 03/26/25		1,300,000		1,367,666
3.878%, 3M LIBOR + 1.168%, 01/24/39 (a)		150,000		164,006
3.980%, 3M LIBOR + 1.338%, 03/20/30 (a)		1,700,000		1,853,330
4.300%, 11/20/26		750,000		807,016
4.400%, 06/10/25		566,000		608,556
4.450%, 09/29/27		117,000		127,652
4.650%, 07/23/48		500,000		611,926
4.750%, 05/18/46		800,000		932,309
Citizens Financial Group, Inc.
2.375%, 07/28/21		110,000		110,278
4.300%, 12/03/25		193,000		206,393
Commonwealth Bank of Australia
2.000%, 09/06/21 (144A) (d)		500,000		499,543
2.850%, 05/18/26 (144A)		720,000		740,536

BHFTI-177

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Commonwealth Bank of Australia
3.743%, 09/12/39 (144A)		528,000	$	524,287
4.500%, 12/09/25 (144A)		352,000		380,136
Cooperative Rabobank UA
3.750%, 07/21/26		513,000		532,275
4.375%, 08/04/25		424,000		457,700
4.625%, 12/01/23 (d)		872,000		937,571
Credit Agricole S.A.
3.750%, 04/24/23 (144A)		250,000		261,305
4.375%, 03/17/25 (144A)		295,000		312,883
Credit Suisse Group AG 4.282%, 01/09/28 (144A)		783,000		841,966
Credit Suisse Group Funding Guernsey, Ltd. 3.750%, 03/26/25		970,000		1,019,322
Danske Bank A/S
2.000%, 09/08/21 (144A)		366,000		363,493
2.700%, 03/02/22 (144A)		372,000		373,609
Deutsche Bank AG 4.250%, 10/14/21		900,000		912,984
Discover Bank 4.250%, 03/13/26		1,229,000		1,321,968
Fifth Third Bancorp
3.950%, 03/14/28		400,000		437,911
8.250%, 03/01/38 (d)		200,000		308,659
Goldman Sachs Group, Inc. (The)
2.876%, 3M LIBOR + 0.821%, 10/31/22 (a)		820,000		829,496
3.500%, 11/16/26		1,300,000		1,352,263
3.691%, 3M LIBOR + 1.510%, 06/05/28 (a)		1,674,000		1,757,461
3.850%, 01/26/27		2,090,000		2,216,855
4.223%, 3M LIBOR + 1.301%, 05/01/29 (a)		2,000,000		2,181,830
4.411%, 3M LIBOR + 1.430%, 04/23/39 (a) (d)		445,000		502,171
4.800%, 07/08/44		530,000		634,545
HSBC Holdings plc
3.033%, 3M LIBOR + 0.923%, 11/22/23 (a)		473,000		480,007
3.900%, 05/25/26		200,000		212,105
4.250%, 03/14/24		500,000		526,578
4.250%, 08/18/25		300,000		317,055
4.375%, 11/23/26		1,006,000		1,078,803
Huntington Bancshares, Inc. 2.300%, 01/14/22		813,000		817,427
Industrial & Commercial Bank of China, Ltd. 2.452%, 10/20/21		750,000		748,091
ING Groep NV 4.100%, 10/02/23		1,270,000		1,348,231
KeyCorp
4.150%, 10/29/25		275,000		300,969
5.100%, 03/24/21 (d)		896,000		933,369
Lloyds Banking Group plc
2.907%, 3M LIBOR + 0.810%, 11/07/23 (a)		300,000		300,595
4.375%, 03/22/28		633,000		687,503
4.450%, 05/08/25		540,000		581,232
4.582%, 12/10/25		400,000		420,153
Macquarie Bank, Ltd. 4.000%, 07/29/25 (144A)		250,000		268,089
Banks—(Continued)
Macquarie Group, Ltd.
3.763%, 3M LIBOR + 1.372%, 11/28/28 (144A) (a)		1,015,000		1,059,934
5.033%, 3M LIBOR + 1.750%, 01/15/30 (144A) (a)		1,820,000		2,084,762
Mitsubishi UFJ Financial Group, Inc.
2.527%, 09/13/23 (d)		250,000		252,116
3.407%, 03/07/24		1,510,000		1,571,162
3.751%, 07/18/39		615,000		662,559
Mizuho Financial Group, Inc. 2.869%, 3M LIBOR + 1.310%, 09/13/30 (a)		539,000		537,104
Morgan Stanley
2.750%, 05/19/22		250,000		253,597
3.125%, 01/23/23		500,000		512,907
3.591%, 3M LIBOR + 1.340%, 07/22/28 (a)		1,067,000		1,125,442
3.625%, 01/20/27		1,157,000		1,222,689
3.700%, 10/23/24		500,000		529,695
3.772%, 3M LIBOR + 1.140%, 01/24/29 (a)		278,000		297,107
3.875%, 04/29/24		700,000		744,757
4.300%, 01/27/45		400,000		463,200
4.457%, 3M LIBOR + 1.431%, 04/22/39 (a)		850,000		989,903
5.000%, 11/24/25		1,269,000		1,421,899
5.500%, 07/28/21		807,000		856,039
National Australia Bank, Ltd. 3.933%, 5Y H15 + 1.880%, 08/02/34 (144A) (a)		800,000		821,246
NatWest Markets plc 3.625%, 09/29/22 (144A) (d)		1,155,000		1,185,786
Nordea Bank AB 4.875%, 01/27/20 (144A)		900,000		907,774
PNC Financial Services Group, Inc. (The) 4.375%, 08/11/20		650,000		663,363
Regions Financial Corp.
2.750%, 08/14/22		136,000		138,087
3.800%, 08/14/23		132,000		139,248
Royal Bank of Canada 4.650%, 01/27/26		495,000		546,795
Royal Bank of Scotland Group plc
4.269%, 3M LIBOR + 1.762%, 03/22/25 (a) (d)		480,000		502,008
4.892%, 3M LIBOR + 1.754%, 05/18/29 (a)		290,000		319,066
Santander UK Group Holdings plc 4.750%, 09/15/25 (144A)		700,000		729,630
Societe Generale S.A.
3.875%, 03/28/24 (144A)		700,000		734,446
4.250%, 04/14/25 (144A)		500,000		522,171
Standard Chartered plc
4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (a)		1,200,000		1,240,679
4.305%, 3M LIBOR + 1.910%, 05/21/30 (144A) (a) (d)		300,000		322,479
4.866%, 3M LIBOR + 1.970%, 03/15/33 (144A) (a)		300,000		319,963
State Street Corp. 3.700%, 11/20/23		1,000,000		1,063,347
Sumitomo Mitsui Financial Group, Inc.
2.778%, 10/18/22		411,000		417,191
2.784%, 07/12/22		800,000		811,909
2.846%, 01/11/22		900,000		912,312
3.010%, 10/19/26		212,000		217,885
3.040%, 07/16/29 (d)		1,020,000		1,043,148
3.102%, 01/17/23		482,000		494,263

BHFTI-178

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Sumitomo Mitsui Trust Bank, Ltd. 2.050%, 10/18/19 (144A)		1,000,000	$	999,987
SunTrust Banks, Inc. 2.750%, 05/01/23		1,200,000		1,221,320
UBS Group Funding Switzerland AG
2.859%, 3M LIBOR + 0.954%, 08/15/23 (144A) (a)		276,000		279,061
3.491%, 05/23/23 (144A) (d)		762,000		782,245
4.125%, 09/24/25 (144A)		300,000		324,152
Wells Fargo & Co.
3.069%, 01/24/23		2,470,000		2,516,114
3.196%, 3M LIBOR + 1.170%, 06/17/27 (a)		1,085,000		1,121,066
4.100%, 06/03/26		1,291,000		1,383,784
4.650%, 11/04/44		595,000		687,959
5.375%, 11/02/43		1,005,000		1,269,094
Westpac Banking Corp.
4.322%, 5Y USD ICE Swap + 2.236%, 11/23/31 (a)		1,050,000		1,110,203
4.421%, 07/24/39		450,000		494,524
				104,075,909
Beverages—0.6%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 4.700%, 02/01/36		1,685,000		1,948,772
Anheuser-Busch InBev Finance, Inc. 4.625%, 02/01/44		185,000		211,191
Anheuser-Busch InBev Worldwide, Inc.
4.375%, 04/15/38		1,300,000		1,455,741
4.439%, 10/06/48		950,000		1,072,673
4.750%, 01/23/29		470,000		547,318
4.750%, 04/15/58		775,000		902,415
Beam Suntory, Inc. 3.250%, 05/15/22		760,000		772,798
Coca-Cola Femsa S.A.B. de C.V. 3.875%, 11/26/23		200,000		211,360
Constellation Brands, Inc.
4.400%, 11/15/25		300,000		331,727
5.250%, 11/15/48		180,000		225,512
Keurig Dr Pepper, Inc.
3.430%, 06/15/27		175,000		181,164
4.417%, 05/25/25		268,000		292,717
4.985%, 05/25/38		387,000		450,129
				8,603,517
Biotechnology—0.1%
Baxalta, Inc. 5.250%, 06/23/45		27,000		34,933
Celgene Corp.
4.550%, 02/20/48		550,000		656,201
5.700%, 10/15/40		165,000		215,926
Gilead Sciences, Inc. 3.250%, 09/01/22		630,000		651,977
				1,559,037
Building Materials—0.1%
CRH America Finance, Inc. 3.400%, 05/09/27 (144A)		214,000		221,074
Martin Marietta Materials, Inc. 3.450%, 06/01/27		499,000		508,074
Masco Corp. 6.500%, 08/15/32		720,000		883,010
				1,612,158
Chemicals—0.3%
Albemarle Corp. 5.450%, 12/01/44		350,000		397,467
Dow Chemical Co. (The) 8.850%, 09/15/21		640,000		705,860
DuPont de Nemours, Inc.
4.493%, 11/15/25		800,000		883,691
5.319%, 11/15/38		395,000		482,205
International Flavors & Fragrances, Inc. 5.000%, 09/26/48		404,000		461,349
Mosaic Co. (The) 5.625%, 11/15/43		300,000		332,755
Nutrien, Ltd.
3.000%, 04/01/25 (d)		200,000		203,264
3.375%, 03/15/25		87,000		90,147
4.125%, 03/15/35 (d)		620,000		646,989
Sherwin-Williams Co. (The) 3.125%, 06/01/24		247,000		255,159
				4,458,886
Commercial Services—0.2%
ERAC USA Finance LLC
3.850%, 11/15/24 (144A)		925,000		983,697
7.000%, 10/15/37 (144A)		500,000		712,282
Global Payments, Inc. 4.150%, 08/15/49		615,000		644,854
President & Fellows of Harvard College 3.300%, 07/15/56		714,000		782,542
				3,123,375
Computers—0.8%
Apple, Inc.
2.450%, 08/04/26		519,000		526,752
2.750%, 01/13/25		600,000		620,946
2.850%, 05/11/24		1,123,000		1,165,216
2.900%, 09/12/27		836,000		871,252
3.000%, 06/20/27		675,000		709,897
3.200%, 05/11/27		514,000		545,185
3.350%, 02/09/27		1,207,000		1,291,583
3.750%, 09/12/47		1,200,000		1,336,504
3.750%, 11/13/47		200,000		223,902
3.850%, 08/04/46		362,000		408,352
Dell International LLC / EMC Corp. 6.020%, 06/15/26 (144A)		577,000		650,676
DXC Technology Co. 4.250%, 04/15/24		310,000		325,166

BHFTI-179

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—(Continued)
International Business Machines Corp.
3.300%, 05/15/26		1,275,000	$	1,345,527
3.500%, 05/15/29		2,370,000		2,544,558
6.500%, 01/15/28		300,000		384,858
				12,950,374
Cosmetics/Personal Care—0.0%
Unilever Capital Corp. 3.375%, 03/22/25		310,000		328,557
Distribution/Wholesale—0.0%
WW Grainger, Inc. 4.600%, 06/15/45		190,000		223,162
Diversified Financial Services—1.7%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300%, 01/23/23		468,000		477,274
3.500%, 01/15/25		600,000		612,367
4.450%, 04/03/26		650,000		694,615
Air Lease Corp.
3.250%, 03/01/25		484,000		492,306
3.250%, 10/01/29		1,065,000		1,047,726
Aircastle, Ltd. 4.400%, 09/25/23		400,000		420,447
American Express Co. 3.400%, 02/27/23		600,000		623,061
Ameriprise Financial, Inc. 2.875%, 09/15/26		238,000		243,489
BOC Aviation, Ltd.
2.750%, 09/18/22 (144A)		480,000		479,902
3.500%, 10/10/24 (144A)		385,000		395,041
Brookfield Finance, Inc.
3.900%, 01/25/28		358,000		375,846
4.700%, 09/20/47		409,000		448,595
4.850%, 03/29/29		1,057,000		1,196,528
Capital One Bank USA N.A. 3.375%, 02/15/23		600,000		618,335
CME Group, Inc. 3.000%, 03/15/25		440,000		460,886
Daiwa Securities Group, Inc. 3.129%, 04/19/22 (144A)		439,000		446,009
GE Capital International Funding Co.
2.342%, 11/15/20		3,696,000		3,687,003
4.418%, 11/15/35		2,726,000		2,859,331
Invesco Finance plc 4.000%, 01/30/24		500,000		531,206
Jefferies Group LLC 5.125%, 01/20/23		300,000		322,864
ORIX Corp. 2.900%, 07/18/22		362,000		368,105
Private Export Funding Corp.
2.800%, 05/15/22		1,000,000		1,027,218
3.550%, 01/15/24		7,383,000		7,931,535
Diversified Financial Services—(Continued)
Synchrony Financial 3.700%, 08/04/26		250,000		255,204
				26,014,893
Electric—2.0%
AEP Transmission Co. LLC 3.150%, 09/15/49		225,000		221,061
Alabama Power Co. 3.550%, 12/01/23		461,000		487,302
Baltimore Gas & Electric Co. 5.200%, 06/15/33		1,510,000		1,849,577
Berkshire Hathaway Energy Co. 6.125%, 04/01/36		325,000		450,227
China Southern Power Grid International Finance BVI Co., Ltd. 3.500%, 05/08/27 (144A)		960,000		1,012,025
Cleveland Electric Illuminating Co. (The) 4.550%, 11/15/30 (144A)		250,000		284,559
CMS Energy Corp. 3.875%, 03/01/24		170,000		179,196
Consumers Energy Co. 4.350%, 08/31/64		191,000		225,955
Delmarva Power & Light Co. 4.150%, 05/15/45		500,000		572,878
Dominion Energy, Inc.
2.750%, 09/15/22		232,000		234,360
2.850%, 08/15/26		183,000		184,621
DTE Electric Co. 5.700%, 10/01/37		300,000		394,510
Duke Energy Carolinas LLC 6.000%, 01/15/38		600,000		826,862
Duke Energy Indiana LLC 3.750%, 05/15/46		350,000		376,273
Duke Energy Progress LLC
4.100%, 03/15/43		200,000		225,858
4.375%, 03/30/44		247,000		291,615
5.700%, 04/01/35		360,000		457,980
Duquesne Light Holdings, Inc. 3.616%, 08/01/27 (144A)		1,050,000		1,071,649
Edison International 5.750%, 06/15/27		400,000		449,564
Enel Finance International NV
3.500%, 04/06/28 (144A)		465,000		476,248
3.625%, 05/25/27 (144A)		480,000		498,171
4.625%, 09/14/25 (144A)		265,000		289,477
Entergy Arkansas, Inc. 3.050%, 06/01/23		765,000		783,670
Entergy Corp. 2.950%, 09/01/26		194,000		197,037
Entergy Louisiana LLC
2.400%, 10/01/26		414,000		413,679
3.050%, 06/01/31		195,000		202,141
Exelon Corp. 3.497%, 06/01/22		600,000		615,695
Exelon Generation Co. LLC
3.400%, 03/15/22		643,000		659,347
6.250%, 10/01/39		160,000		202,340

BHFTI-180

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
FirstEnergy Corp. 4.850%, 07/15/47		289,000	$	343,472
Florida Power & Light Co. 5.625%, 04/01/34		1,250,000		1,647,448
Fortis, Inc. 3.055%, 10/04/26		929,000		944,202
Indiana Michigan Power Co. 3.200%, 03/15/23		330,000		340,986
Jersey Central Power & Light Co. 6.150%, 06/01/37		200,000		260,004
Kansas City Power & Light Co. 5.300%, 10/01/41		315,000		407,882
Massachusetts Electric Co. 4.004%, 08/15/46 (144A)		402,000		440,217
Mid-Atlantic Interstate Transmission LLC 4.100%, 05/15/28 (144A)		340,000		374,904
Nevada Power Co.
5.375%, 09/15/40		223,000		277,634
6.650%, 04/01/36		360,000		506,105
New England Power Co. 3.800%, 12/05/47 (144A)		280,000		303,686
New York State Electric & Gas Corp. 3.250%, 12/01/26 (144A)		434,000		451,220
NextEra Energy Capital Holdings, Inc. 3.625%, 06/15/23		410,000		427,160
Niagara Mohawk Power Corp. 3.508%, 10/01/24 (144A)		305,000		321,763
Northern States Power Co.
6.250%, 06/01/36		200,000		279,240
6.500%, 03/01/28		628,000		794,864
NRG Energy, Inc. 4.450%, 06/15/29 (144A)		360,000		375,160
PacifiCorp 3.600%, 04/01/24		315,000		333,359
Pennsylvania Electric Co. 3.250%, 03/15/28 (144A)		113,000		116,493
PPL Electric Utilities Corp. 2.500%, 09/01/22		300,000		301,592
Progress Energy, Inc. 7.000%, 10/30/31		200,000		275,735
Public Service Co. of Colorado 2.500%, 03/15/23		400,000		403,006
Public Service Co. of Oklahoma 6.625%, 11/15/37		600,000		837,222
Sempra Energy 4.050%, 12/01/23		1,054,000		1,115,727
Sierra Pacific Power Co. 3.375%, 08/15/23		556,000		578,995
Southern California Edison Co.
3.650%, 03/01/28		500,000		535,118
5.550%, 01/15/36		500,000		600,916
Southern Power Co. 5.150%, 09/15/41		400,000		456,555
Southwestern Public Service Co. 4.500%, 08/15/41		250,000		295,209
Electric—(Continued)
Tampa Electric Co. 4.450%, 06/15/49		500,000		603,960
Toledo Edison Co. (The) 6.150%, 05/15/37		400,000		545,394
Tri-State Generation & Transmission Association, Inc. 4.250%, 06/01/46		206,000		227,040
Virginia Electric & Power Co.
2.750%, 03/15/23		400,000		408,355
4.450%, 02/15/44		126,000		148,072
6.000%, 05/15/37		685,000		914,952
				31,327,524
Electronics—0.1%
Arrow Electronics, Inc.
3.250%, 09/08/24		439,000		446,279
3.875%, 01/12/28		376,000		385,519
				831,798
Engineering & Construction—0.0%
Mexico City Airport Trust 5.500%, 07/31/47 (144A)		200,000		198,380
Environmental Control—0.0%
Waste Management, Inc. 3.450%, 06/15/29		325,000		350,532
Food—0.4%
Campbell Soup Co. 3.950%, 03/15/25		200,000		212,043
Conagra Brands, Inc.
4.600%, 11/01/25		300,000		329,957
5.300%, 11/01/38		600,000		698,863
General Mills, Inc.
4.000%, 04/17/25		535,000		576,537
4.550%, 04/17/38		130,000		148,798
Kraft Heinz Foods Co. 5.000%, 07/15/35		1,800,000		1,920,202
Kroger Co. (The) 8.000%, 09/15/29		610,000		821,265
McCormick & Co., Inc. 3.400%, 08/15/27		200,000		209,692
Smithfield Foods, Inc. 5.200%, 04/01/29 (144A)		1,100,000		1,212,717
Tyson Foods, Inc. 3.950%, 08/15/24		456,000		488,402
				6,618,476
Forest Products & Paper—0.1%
International Paper Co.
3.000%, 02/15/27 (d)		429,000		436,587
7.300%, 11/15/39		350,000		474,298
8.700%, 06/15/38		250,000		368,303
				1,279,188

BHFTI-181

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Gas—0.4%
Atmos Energy Corp. 4.150%, 01/15/43		460,000	$	520,483
Brooklyn Union Gas Co. (The) 4.273%, 03/15/48 (144A)		500,000		581,575
KeySpan Gas East Corp. 2.742%, 08/15/26 (144A)		345,000		348,836
NiSource, Inc.
2.950%, 09/01/29		465,000		467,637
6.250%, 12/15/40		510,000		672,757
Southern Co. Gas Capital Corp.
3.500%, 09/15/21		1,000,000		1,021,323
3.950%, 10/01/46		212,000		222,711
4.400%, 06/01/43		375,000		419,414
6.000%, 10/01/34		1,000,000		1,299,925
Southwest Gas Corp. 3.800%, 09/29/46		332,000		353,380
				5,908,041
Healthcare-Products—0.3%
Abbott Laboratories
3.875%, 09/15/25		300,000		326,292
4.900%, 11/30/46		585,000		754,770
Becton Dickinson & Co. 3.734%, 12/15/24		85,000		89,950
Boston Scientific Corp.
3.750%, 03/01/26		600,000		641,520
4.700%, 03/01/49		575,000		704,074
Covidien International Finance S.A. 2.950%, 06/15/23		377,000		389,358
Thermo Fisher Scientific, Inc.
2.950%, 09/19/26		286,000		294,638
4.150%, 02/01/24		515,000		552,928
Zimmer Biomet Holdings, Inc. 3.700%, 03/19/23		233,000		242,785
				3,996,315
Healthcare-Services—0.4%
Aetna, Inc. 6.625%, 06/15/36		297,000		385,919
Anthem, Inc.
3.500%, 08/15/24		1,035,000		1,084,880
4.101%, 03/01/28		460,000		496,934
4.650%, 08/15/44		324,000		360,679
HCA, Inc.
5.125%, 06/15/39		565,000		617,901
5.250%, 06/15/26		900,000		1,002,327
Laboratory Corp. of America Holdings 3.200%, 02/01/22		447,000		456,093
Magellan Health, Inc. 4.900%, 09/22/24		959,000		957,801
Providence St. Joseph Health Obligated Group 2.746%, 10/01/26		210,000		211,339
Quest Diagnostics, Inc. 3.450%, 06/01/26		140,000		147,314
Healthcare-Services—(Continued)
Texas Health Resources 4.330%, 11/15/55		250,000		313,717
UnitedHealth Group, Inc. 4.625%, 07/15/35		320,000		387,842
				6,422,746
Holding Companies-Diversified—0.1%
Hutchison Whampoa International 11, Ltd. 4.625%, 01/13/22 (144A)		1,100,000		1,150,225
Insurance—1.4%
AIA Group, Ltd.
3.600%, 04/09/29 (144A)		495,000		528,652
3.900%, 04/06/28 (144A)		415,000		450,909
AIG SunAmerica Global Financing X 6.900%, 03/15/32 (144A)		500,000		692,137
American Financial Group, Inc. 3.500%, 08/15/26		750,000		770,456
American International Group, Inc.
4.125%, 02/15/24		868,000		928,942
4.200%, 04/01/28 (d)		400,000		436,258
Aon plc 3.500%, 06/14/24		485,000		511,653
Assurant, Inc. 4.200%, 09/27/23		605,000		632,865
Athene Global Funding
2.750%, 06/25/24 (144A)		890,000		896,215
4.000%, 01/25/22 (144A)		368,000		381,918
Athene Holding, Ltd. 4.125%, 01/12/28		287,000		295,138
Berkshire Hathaway Finance Corp. 4.300%, 05/15/43		831,000		979,788
Dai-ichi Life Insurance Co., Ltd. (The) 4.000%, 3M LIBOR + 3.660%, 12/29/49 (144A) (a)		759,000		785,565
Globe Life, Inc. 4.550%, 09/15/28		555,000		620,951
Guardian Life Insurance Co. of America (The) 4.850%, 01/24/77 (144A)		156,000		197,539
Harborwalk Funding Trust 5.077%, 3M LIBOR + 3.191%, 02/15/69 (144A) (a)		1,100,000		1,326,930
Hartford Financial Services Group, Inc. (The) 4.300%, 04/15/43		400,000		444,352
Jackson National Life Global Funding
3.050%, 04/29/26 (144A)		300,000		310,446
3.250%, 01/30/24 (144A)		460,000		478,394
Liberty Mutual Insurance Co. 8.500%, 05/15/25 (144A)		800,000		999,603
Lincoln National Corp.
3.050%, 01/15/30		500,000		498,241
4.200%, 03/15/22		350,000		366,559
6.250%, 02/15/20		800,000		811,074
Manulife Financial Corp. 4.061%, 5 Y USD ICE Swap + 1.647%, 02/24/32 (a)		500,000		520,693
Marsh & McLennan Cos., Inc. 2.350%, 03/06/20		453,000		453,196

BHFTI-182

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Massachusetts Mutual Life Insurance Co. 7.625%, 11/15/23 (144A)		550,000	$	633,808
New York Life Global Funding 3.000%, 01/10/28 (144A)		485,000		506,756
New York Life Insurance Co. 4.450%, 05/15/69 (144A)		625,000		734,841
OneBeacon U.S. Holdings, Inc. 4.600%, 11/09/22		750,000		776,733
Pacific Life Insurance Co. 4.300%, 3M LIBOR + 2.796%, 10/24/67 (144A) (a)		200,000		211,586
Principal Financial Group, Inc. 3.125%, 05/15/23		250,000		258,077
Progressive Corp. (The) 5.375%, 3M LIBOR + 2.539%, (a) (d)		430,000		443,975
Protective Life Global Funding 1.999%, 09/14/21 (144A)		750,000		745,786
Reliance Standard Life Global Funding II 3.850%, 09/19/23 (144A)		600,000		630,527
Voya Financial, Inc.
3.125%, 07/15/24		500,000		516,245
3.650%, 06/15/26		150,000		157,933
				20,934,741
Iron/Steel—0.0%
Nucor Corp. 6.400%, 12/01/37		250,000		344,435
Machinery-Diversified—0.1%
Deere & Co. 8.100%, 05/15/30		400,000		588,186
John Deere Capital Corp. 2.250%, 09/14/26		325,000		324,556
Nvent Finance Sarl 4.550%, 04/15/28		562,000		587,057
Roper Technologies, Inc. 3.000%, 12/15/20		125,000		126,101
Xylem, Inc. 3.250%, 11/01/26		118,000		121,682
				1,747,582
Media—1.0%
CBS Corp.
3.700%, 08/15/24		474,000		495,858
4.850%, 07/01/42		255,000		283,290
5.900%, 10/15/40		125,000		153,162
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 6.834%, 10/23/55		400,000		505,724
Comcast Corp.
3.900%, 03/01/38		591,000		654,247
4.200%, 08/15/34		556,000		636,514
4.250%, 01/15/33		1,880,000		2,164,752
4.600%, 10/15/38		880,000		1,054,473
4.950%, 10/15/58		1,105,000		1,417,676
Media—(Continued)
COX Communications, Inc.
3.250%, 12/15/22 (144A)		1,010,000		1,035,990
4.800%, 02/01/35 (144A)		1,100,000		1,196,455
Discovery Communications LLC
3.300%, 05/15/22		625,000		639,768
3.950%, 03/20/28		315,000		328,260
Fox Corp. 4.709%, 01/25/29 (144A)		460,000		525,067
Grupo Televisa S.A.B. 6.125%, 01/31/46 (d)		200,000		243,854
TCI Communications, Inc. 7.125%, 02/15/28		801,000		1,058,784
Time Warner Cable LLC 5.500%, 09/01/41		1,000,000		1,077,712
Viacom, Inc.
3.875%, 04/01/24		237,000		249,414
6.875%, 04/30/36		500,000		641,886
Walt Disney Co. (The) 6.550%, 03/15/33 (144A)		370,000		525,104
				14,887,990
Mining—0.0%
Anglo American Capital plc 4.000%, 09/11/27 (144A)		300,000		310,244
Barrick Gold Corp. 6.450%, 10/15/35		300,000		387,557
				697,801
Miscellaneous Manufacturing—0.2%
General Electric Co.
4.375%, 09/16/20		1,060,000		1,078,298
5.500%, 01/08/20		616,000		620,783
5.550%, 01/05/26		393,000		444,511
Ingersoll-Rand Luxembourg Finance S.A. 2.625%, 05/01/20		320,000		320,579
Parker-Hannifin Corp.
4.100%, 03/01/47		250,000		278,779
4.450%, 11/21/44		333,000		386,122
Siemens Financieringsmaatschappij NV 3.125%, 03/16/24 (144A)		500,000		521,711
				3,650,783
Oil & Gas—1.3%
Apache Corp. 5.100%, 09/01/40		350,000		348,984
BP Capital Markets America, Inc.
3.017%, 01/16/27		655,000		677,331
3.224%, 04/14/24		1,000,000		1,041,513
BP Capital Markets plc 3.814%, 02/10/24		650,000		692,506
Canadian Natural Resources, Ltd.
3.900%, 02/01/25		512,000		540,267
6.450%, 06/30/33		200,000		258,001
Cenovus Energy, Inc. 6.750%, 11/15/39		570,000		697,233

BHFTI-183

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Chevron Corp. 2.895%, 03/03/24		537,000	$	557,561
CNOOC Finance 2015 Australia Pty, Ltd. 2.625%, 05/05/20		393,000		393,389
Ecopetrol S.A. 4.125%, 01/16/25		433,000		456,967
Encana Corp. 7.200%, 11/01/31		400,000		509,318
Eni S.p.A. 4.000%, 09/12/23 (144A)		385,000		407,604
EQT Corp. 3.900%, 10/01/27 (d)		200,000		173,401
Exxon Mobil Corp.
2.995%, 08/16/39		690,000		692,490
3.095%, 08/16/49		860,000		865,517
Marathon Petroleum Corp. 3.625%, 09/15/24		371,000		388,236
Noble Energy, Inc.
5.050%, 11/15/44		450,000		491,172
6.000%, 03/01/41		360,000		434,860
Occidental Petroleum Corp.
3.500%, 08/15/29		935,000		949,345
4.200%, 03/15/48		300,000		297,567
7.150%, 05/15/28		949,000		1,178,544
7.500%, 05/01/31		805,000		1,054,619
Petro-Canada
5.950%, 05/15/35		210,000		268,763
7.875%, 06/15/26		544,000		695,223
9.250%, 10/15/21		243,000		275,850
Petroleos Mexicanos
6.500%, 03/13/27		1,300,000		1,353,300
6.750%, 09/21/47		716,000		687,217
7.690%, 01/23/50 (144A)		834,000		869,695
Phillips 66 3.900%, 03/15/28		200,000		215,650
Shell International Finance B.V. 4.125%, 05/11/35		400,000		461,109
Suncor Energy, Inc. 5.950%, 12/01/34 (d)		668,000		871,826
Total Capital International S.A.
3.461%, 07/12/49		660,000		698,528
3.700%, 01/15/24		654,000		697,531
Valero Energy Corp. 7.500%, 04/15/32		180,000		245,288
				20,446,405
Oil & Gas Services—0.1%
Baker Hughes a GE Co. LLC 5.125%, 09/15/40		360,000		412,582
Halliburton Co.
4.850%, 11/15/35		270,000		299,700
6.750%, 02/01/27		200,000		246,551
7.450%, 09/15/39		200,000		285,002
8.750%, 02/15/21		350,000		380,581
Oil & Gas Services—(Continued)
Schlumberger Investment S.A. 3.300%, 09/14/21 (144A)		650,000		662,115
				2,286,531
Packaging & Containers—0.0%
WRKCo, Inc. 3.750%, 03/15/25		300,000		315,837
Pharmaceuticals—1.2%
AbbVie, Inc.
4.400%, 11/06/42		600,000		619,179
4.450%, 05/14/46		220,000		228,023
Allergan Funding SCS
3.450%, 03/15/22		500,000		512,450
3.850%, 06/15/24		1,038,000		1,095,357
Allergan, Inc. 2.800%, 03/15/23		172,000		173,595
AstraZeneca plc 6.450%, 09/15/37		350,000		494,470
Bristol-Myers Squibb Co.
3.200%, 06/15/26 (144A)		784,000		821,969
3.400%, 07/26/29 (144A)		846,000		904,557
4.125%, 06/15/39 (144A)		527,000		597,562
CVS Health Corp.
3.250%, 08/15/29		690,000		693,777
4.300%, 03/25/28		813,000		879,351
4.780%, 03/25/38		1,610,000		1,774,867
5.050%, 03/25/48		670,000		761,946
CVS Pass-Through Trust
4.704%, 01/10/36 (144A)		748,372		811,468
5.773%, 01/10/33 (144A)		733,855		838,037
6.204%, 10/10/25 (144A)		513,318		554,888
8.353%, 07/10/31 (144A)		147,540		188,993
Eli Lilly & Co. 4.150%, 03/15/59		590,000		694,790
Express Scripts Holding Co. 4.800%, 07/15/46		156,000		174,746
Mead Johnson Nutrition Co. 4.125%, 11/15/25		89,000		97,396
Merck & Co., Inc. 3.700%, 02/10/45		60,000		67,929
Mylan, Inc. 4.550%, 04/15/28		350,000		372,835
Novartis Capital Corp. 3.000%, 11/20/25		863,000		908,481
Pfizer, Inc.
3.000%, 12/15/26 (d)		450,000		474,235
3.900%, 03/15/39		1,080,000		1,209,126
Shire Acquisitions Investments Ireland DAC
2.875%, 09/23/23		445,000		453,931
3.200%, 09/23/26		2,100,000		2,167,169
				18,571,127

BHFTI-184

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—1.0%
ANR Pipeline Co. 7.375%, 02/15/24		226,000	$	260,709
APT Pipelines, Ltd.
4.200%, 03/23/25 (144A)		700,000		741,317
4.250%, 07/15/27 (144A)		687,000		738,825
Buckeye Partners L.P.
3.950%, 12/01/26		79,000		69,567
5.850%, 11/15/43		575,000		487,096
Enable Midstream Partners L.P.
4.150%, 09/15/29		443,000		426,365
4.950%, 05/15/28		290,000		301,251
Enbridge, Inc.
3.700%, 07/15/27 (d)		200,000		211,350
4.500%, 06/10/44		350,000		383,968
6.250%, 3M LIBOR + 3.641%, 03/01/78 (a)		200,000		211,977
Energy Transfer Operating L.P. 6.050%, 06/01/41		1,167,000		1,334,109
EnLink Midstream Partners L.P.
4.150%, 06/01/25		200,000		185,500
5.600%, 04/01/44		201,000		164,317
Enterprise Products Operating LLC
3.900%, 02/15/24		662,000		704,254
4.200%, 01/31/50		390,000		417,024
4.950%, 10/15/54		179,000		208,364
5.100%, 02/15/45		200,000		235,607
Gulf South Pipeline Co. L.P. 4.000%, 06/15/22		200,000		204,879
Kinder Morgan, Inc.
4.300%, 03/01/28		500,000		543,408
5.200%, 03/01/48 (d)		250,000		288,075
Magellan Midstream Partners L.P. 4.200%, 12/01/42 (d)		269,000		269,061
MPLX L.P.
4.125%, 03/01/27		373,000		393,577
4.500%, 04/15/38		814,000		844,187
5.250%, 01/15/25 (144A)		375,000		395,812
ONEOK Partners L.P. 6.650%, 10/01/36		950,000		1,183,724
ONEOK, Inc. 3.400%, 09/01/29		245,000		242,471
Phillips 66 Partners L.P.
3.150%, 12/15/29		330,000		324,745
3.550%, 10/01/26		100,000		103,142
4.900%, 10/01/46		200,000		224,735
Plains All American Pipeline L.P. / PAA Finance Corp. 3.600%, 11/01/24		900,000		921,552
Southern Natural Gas Co. LLC 4.800%, 03/15/47 (144A)		244,000		270,317
Sunoco Logistics Partners Operations L.P.
3.900%, 07/15/26		117,000		121,381
4.950%, 01/15/43		394,000		398,937
5.300%, 04/01/44		200,000		210,592
6.100%, 02/15/42		500,000		570,675
TC PipeLines L.P. 3.900%, 05/25/27		100,000		104,277
Pipelines—(Continued)
TransCanada PipeLines, Ltd.
3.750%, 10/16/23		400,000		421,753
4.750%, 05/15/38		300,000		342,697
Williams Cos., Inc. (The) 4.850%, 03/01/48		300,000		321,946
Williams Partners L.P. 3.900%, 01/15/25		100,000		104,783
				15,888,326
Real Estate—0.1%
Goodman Australia Industrial Fund Bond Issuer Pty, Ltd. 3.400%, 09/30/26 (144A)		632,000		643,523
Ontario Teachers’ Cadillac Fairview Properties Trust 3.875%, 03/20/27 (144A) (d)		603,000		653,190
				1,296,713
Real Estate Investment Trusts—1.0%
Alexandria Real Estate Equities, Inc.
3.800%, 04/15/26		175,000		186,177
4.000%, 02/01/50		566,000		616,948
American Tower Corp.
2.250%, 01/15/22		500,000		500,565
3.375%, 10/15/26		287,000		298,817
3.500%, 01/31/23		790,000		818,521
3.700%, 10/15/49		665,000		663,078
AvalonBay Communities, Inc. 3.900%, 10/15/46		150,000		168,903
Boston Properties L.P.
3.200%, 01/15/25		380,000		394,197
3.850%, 02/01/23		800,000		839,196
Brixmor Operating Partnership L.P. 3.850%, 02/01/25		500,000		522,917
Crown Castle International Corp. 4.000%, 03/01/27		166,000		179,183
DDR Corp. 4.700%, 06/01/27		226,000		247,548
Digital Realty Trust L.P. 3.700%, 08/15/27		270,000		283,380
ERP Operating L.P. 4.750%, 07/15/20		578,000		585,679
Goodman U.S. Finance Three LLC 3.700%, 03/15/28 (144A)		387,000		401,869
HCP, Inc.
3.500%, 07/15/29		600,000		623,560
3.875%, 08/15/24		1,136,000		1,210,219
Liberty Property L.P.
3.250%, 10/01/26		199,000		204,366
National Retail Properties, Inc. 3.600%, 12/15/26		453,000		476,841
Office Properties Income Trust 4.000%, 07/15/22		627,000		639,002
Realty Income Corp.
3.000%, 01/15/27		200,000		206,118
3.875%, 04/15/25		505,000		542,520
4.650%, 03/15/47		225,000		278,660

BHFTI-185

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—(Continued)
Regency Centers L.P. 2.950%, 09/15/29		560,000	$	558,839
Scentre Group Trust 1 / Scentre Group Trust 2 3.500%, 02/12/25 (144A)		720,000		746,533
Select Income REIT 3.600%, 02/01/20		1,000,000		1,002,228
Senior Housing Properties Trust 4.750%, 02/15/28		500,000		502,647
UDR, Inc.
2.950%, 09/01/26		233,000		236,956
3.000%, 08/15/31		95,000		95,163
3.200%, 01/15/30		625,000		643,815
Ventas Realty L.P.
3.500%, 02/01/25		197,000		206,307
3.850%, 04/01/27		369,000		392,452
Welltower, Inc. 3.100%, 01/15/30		445,000		445,314
				15,718,518
Retail—0.3%
Dollar General Corp. 4.125%, 05/01/28 (d)		485,000		530,447
Home Depot, Inc. (The) 4.200%, 04/01/43		207,000		243,258
Lowe’s Cos., Inc.
3.120%, 04/15/22		300,000		306,816
3.125%, 09/15/24		276,000		286,556
3.650%, 04/05/29 (d)		198,000		211,758
4.550%, 04/05/49		405,000		467,856
McDonald’s Corp.
4.450%, 03/01/47		180,000		206,819
4.700%, 12/09/35		84,000		99,848
6.300%, 10/15/37		152,000		209,707
O’Reilly Automotive, Inc. 3.600%, 09/01/27		494,000		525,826
Walgreens Boots Alliance, Inc. 4.500%, 11/18/34		349,000		371,168
Walmart, Inc. 3.300%, 04/22/24		575,000		607,430
				4,067,489
Semiconductors—0.3%
Analog Devices, Inc.
3.125%, 12/05/23		293,000		301,586
4.500%, 12/05/36		336,000		367,077
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
3.625%, 01/15/24		1,205,000		1,232,898
3.875%, 01/15/27		600,000		603,101
Broadcom, Inc. 4.750%, 04/15/29 (144A) (d)		1,355,000		1,432,218
				3,936,880
Software—0.5%
Fidelity National Information Services, Inc. 4.750%, 05/15/48		274,000		333,837
Software—(Continued)
Fiserv, Inc.
3.200%, 07/01/26		305,000		315,978
4.400%, 07/01/49		295,000		331,216
Microsoft Corp.
2.400%, 08/08/26		400,000		408,057
3.300%, 02/06/27		502,000		541,144
3.500%, 02/12/35		296,000		327,288
3.950%, 08/08/56		180,000		212,867
4.000%, 02/12/55		310,000		369,735
4.100%, 02/06/37		924,000		1,095,926
4.500%, 02/06/57		810,000		1,056,495
Oracle Corp.
3.800%, 11/15/37		900,000		988,304
3.900%, 05/15/35		230,000		255,502
4.300%, 07/08/34		1,676,000		1,950,236
				8,186,585
Telecommunications—0.9%
AT&T, Inc.
3.950%, 01/15/25		858,000		916,447
4.125%, 02/17/26		570,000		615,638
4.500%, 05/15/35		1,000,000		1,097,685
4.900%, 08/15/37		2,260,000		2,567,876
5.350%, 09/01/40		500,000		586,157
6.350%, 03/15/40		530,000		673,542
6.375%, 03/01/41		300,000		386,544
Deutsche Telekom International Finance B.V. 3.600%, 01/19/27 (144A)		498,000		525,945
Telefonica Emisiones S.A. 4.103%, 03/08/27 (d)		353,000		385,371
Telefonica Emisiones S.A.U. 5.134%, 04/27/20		551,000		559,814
Verizon Communications, Inc.
4.016%, 12/03/29		196,000		217,913
4.125%, 03/16/27		400,000		441,474
4.272%, 01/15/36		280,000		315,349
4.400%, 11/01/34		600,000		683,936
4.672%, 03/15/55		470,000		563,511
4.862%, 08/21/46		780,000		953,717
5.250%, 03/16/37		548,000		681,095
Vodafone Group plc
4.125%, 05/30/25		547,000		591,589
5.250%, 05/30/48		540,000		625,990
6.150%, 02/27/37		500,000		634,412
				14,024,005
Transportation—0.4%
Burlington Northern Santa Fe LLC
3.550%, 02/15/50		327,000		347,012
7.950%, 08/15/30		1,185,000		1,736,749
Burlington Northern, Inc. 8.750%, 02/25/22		812,000		932,538
Canadian Pacific Railway Co.
6.125%, 09/15/15		100,000		149,627
7.125%, 10/15/31		872,000		1,233,133

BHFTI-186

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Transportation—(Continued)
CSX Corp.
4.750%, 11/15/48		404,000	$	487,442
6.000%, 10/01/36		300,000		387,247
Norfolk Southern Corp.
3.850%, 01/15/24		679,000		723,644
3.942%, 11/01/47		219,000		238,725
Union Pacific Corp. 4.100%, 09/15/67		200,000		211,427
				6,447,544
Trucking & Leasing—0.2%
Aviation Capital Group LLC 3.500%, 11/01/27 (144A)		300,000		299,144
Avolon Holdings Funding, Ltd. 4.375%, 05/01/26 (144A)		540,000		558,306
Penske Truck Leasing Co. L.P. / PTL Finance Corp.
2.700%, 03/14/23 (144A)		948,000		955,550
4.125%, 08/01/23 (144A)		848,000		897,466
				2,710,466
Total Corporate Bonds & Notes (Cost $374,506,928)				399,723,535
Asset-Backed Securities—13.6%
Asset-Backed - Automobile—5.9%
American Credit Acceptance Receivables Trust
2.910%, 02/13/23 (144A)		186,711		186,791
3.460%, 08/10/22 (144A)		2,133,235		2,137,207
4.260%, 08/12/22 (144A)		680,727		684,677
AmeriCredit Automobile Receivables Trust
1.830%, 12/08/21		750,000		749,101
2.300%, 02/18/22		785,000		784,929
2.690%, 06/19/23		409,000		412,333
2.710%, 08/18/22		421,000		424,244
3.130%, 01/18/23		945,000		959,115
Carnow Auto Receivables Trust 2.920%, 09/15/22 (144A)		152,660		152,656
Carvana Auto Receivables Trust 3.040%, 04/15/25 (144A)		3,815,000		3,821,885
CPS Auto Receivables Trust
2.860%, 06/15/23 (144A)		1,533,000		1,534,886
3.270%, 06/15/22 (144A)		498,098		498,861
3.770%, 08/17/20 (144A)		55,220		55,228
3.790%, 06/15/23 (144A)		564,000		573,699
4.000%, 02/16/21 (144A)		113,355		113,589
4.350%, 11/16/20 (144A)		125,162		125,429
Credit Acceptance Auto Loan Trust
2.560%, 10/15/25 (144A)		341,281		341,416
3.020%, 04/15/26 (144A)		4,025,000		4,045,264
3.040%, 12/15/25 (144A)		524,000		525,960
3.350%, 06/15/26 (144A)		489,000		492,524
3.480%, 02/17/26 (144A)		440,000		441,315
Asset-Backed - Automobile—(Continued)
Drive Auto Receivables Trust
2.750%, 09/15/23		1,043,588		1,044,471
2.840%, 04/15/22		539,218		539,570
2.980%, 01/18/22 (144A)		218,130		218,349
3.530%, 12/15/23 (144A)		4,820,000		4,874,113
3.660%, 11/15/24		3,698,000		3,742,008
3.720%, 09/16/24		3,182,000		3,213,638
3.840%, 03/15/23		2,425,000		2,452,606
4.090%, 06/15/26		1,225,000		1,268,539
4.160%, 05/15/24 (144A)		1,195,000		1,214,251
4.180%, 03/15/24 (144A)		2,076,000		2,107,543
DT Auto Owner Trust
3.030%, 01/17/23 (144A)		367,307		367,495
3.470%, 12/15/23 (144A)		1,715,000		1,724,903
3.550%, 11/15/22 (144A)		1,089,000		1,096,239
3.580%, 05/15/23 (144A)		969,000		976,863
3.770%, 10/17/22 (144A)		849,210		853,615
3.810%, 12/15/23 (144A)		1,211,000		1,227,933
Exeter Automobile Receivables Trust
2.050%, 12/15/21 (144A)		66,064		66,051
2.840%, 08/16/21 (144A)		175,826		175,935
3.640%, 11/15/22 (144A)		1,410,000		1,422,630
3.950%, 12/15/22 (144A)		580,000		586,791
Flagship Credit Auto Trust
2.710%, 11/15/22 (144A)		1,195,000		1,200,125
3.790%, 12/16/24 (144A)		3,855,000		3,973,255
Hertz Vehicle Financing II L.P. 2.960%, 10/25/21 (144A)		575,000		579,002
OneMain Direct Auto Receivables Trust
2.550%, 11/14/23 (144A)		2,400,000		2,402,380
2.820%, 07/15/24 (144A)		4,225,000		4,236,831
Prestige Auto Receivables Trust 3.910%, 11/15/22 (144A)		1,979,000		2,004,765
Santander Drive Auto Receivables Trust 4.670%, 02/15/23 (144A)		4,700,000		4,726,683
Santander Retail Auto Lease Trust 2.930%, 05/20/21 (144A)		2,396,000		2,405,721
Sonoran Auto Receivables Trust
4.750%, 07/15/24		4,777,488		4,883,214
4.750%, 06/15/25		5,014,428		5,123,643
Tricolor Auto Securitization Trust 5.050%, 12/15/20 (144A)		1,189,737		1,199,094
U.S. Auto Funding LLC 5.500%, 07/15/23 (144A)		2,127,171		2,176,134
United Auto Credit Securitization Trust 3.780%, 05/10/23 (144A)		3,140,000		3,164,645
USASF Receivables LLC 5.750%, 09/15/30 (144A)		605,060		603,769
Veros Automobile Receivables Trust 4.050%, 02/15/24 (144A)		4,300,000		4,350,689
Westlake Automobile Receivables Trust
2.460%, 01/18/22 (144A)		123,118		123,122
2.700%, 10/17/22 (144A)		340,117		340,319
4.100%, 06/15/21 (144A)		316,791		317,418
				92,045,461

BHFTI-187

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Credit Card—0.2%
Continental Credit Card 4.290%, 01/15/24 (144A) (f)		776,950	$	779,524
World Financial Network Credit Card Master Trust 3.140%, 12/15/25		2,635,000		2,693,354
				3,472,878
Asset-Backed - Other—7.4%
American Homes 4 Rent Trust
3.467%, 04/17/52 (144A)		1,149,047		1,195,334
3.678%, 12/17/36 (144A)		91,518		95,976
4.201%, 12/17/36 (144A)		400,000		424,055
4.290%, 10/17/36 (144A)		300,000		318,729
4.596%, 12/17/36 (144A)		250,000		269,140
5.036%, 10/17/52 (144A)		1,900,000		2,078,186
5.639%, 04/17/52 (144A)		500,000		545,829
6.231%, 10/17/36 (144A)		650,000		723,623
6.418%, 12/17/36 (144A)		300,000		337,654
American Tower Trust I 3.070%, 03/15/48 (144A)		920,000		934,825
AXIS Equipment Finance Receivables LLC 2.210%, 11/20/21 (144A)		53,733		53,723
Business Jet Securities LLC
4.212%, 07/15/34		3,570,929		3,664,477
4.335%, 02/15/33 (144A)		4,232,867		4,274,308
4.447%, 06/15/33 (144A)		2,578,238		2,623,742
Camillo 5.000%, 12/05/23 (g) (h)		3,467,397		3,459,803
Colony American Finance, Ltd. 2.554%, 11/15/48 (144A)		690,720		690,906
Conix Mortgage Asset Trust 4.704%, 12/25/47 (144A) (a) (f) (g) (h)		1,078,519		55,112
COOF Securitization Trust, Ltd. 2.997%, 06/25/40 (144A)		932,496		85,292
CoreVest American Finance Trust 3.880%, 03/15/52 (144A)		2,470,000		2,614,728
CSMA 2.000%, 04/25/23		3,888,910		3,888,521
Diamond Resorts Owner Trust
3.270%, 10/22/29 (144A)		871,485		880,043
3.700%, 01/21/31 (144A)		1,864,945		1,901,962
DT Asset Trust 5.840%, 12/16/22		2,000,000		2,000,723
Engs Commercial Finance Trust 2.630%, 02/22/22 (144A)		153,004		153,064
Fort Credit LLC 5.597%, 11/16/35 (144A) (a) (f)		5,900,000		5,940,734
Foundation Finance Trust 3.860%, 11/15/34 (144A)		1,840,652		1,865,411
Freedom Financial Network LLC
3.610%, 07/18/24 (144A)		815,068		818,856
3.990%, 10/20/25 (144A)		2,115,768		2,131,256
FTF Funding II LLC 5.500%, 08/15/20		3,345,600		3,345,966
GMAT Trust 6.967%, 11/25/43 (144A) (i)		11,735		11,743
Asset-Backed - Other—(Continued)
Gold Key Resorts LLC 3.220%, 03/17/31 (144A)		249,723		249,779
Goodgreen Trust
3.260%, 10/15/53 (144A)		2,368,989		2,419,906
3.740%, 10/15/52 (144A)		504,496		525,042
5.000%, 10/20/51		4,294,902		4,248,143
HERO Funding Trust
3.080%, 09/20/42 (144A)		581,555		590,979
3.950%, 09/20/48 (144A)		2,040,760		2,134,491
4.460%, 09/20/47 (144A)		1,570,211		1,654,282
Hilton Grand Vacations Trust 2.660%, 12/26/28 (144A)		660,657		662,341
Kabbage Funding LLC 3.825%, 03/15/24 (144A)		5,285,000		5,342,731
KGS-Alpha SBA COOF Trust
0.624%, 05/25/39 (144A) (b)		3,681,140		57,632
1.059%, 08/25/38 (144A) (a) (b)		3,131,337		73,207
1.765%, 03/25/39 (144A) (a) (b)		3,123,387		132,963
2.931%, 04/25/40 (144A) (a) (b)		788,499		64,274
LV Tower 52 Issuer LLC
5.750%, 07/15/19 (144A) (f)		1,711,236		1,727,476
7.750%, 07/15/19 (144A)		887,990		896,417
Marlette Funding Trust 2.610%, 03/15/28 (144A)		169,647		169,675
OnDeck Asset Securitization Trust LLC 3.500%, 04/18/22 (144A)		526,000		528,218
OneMain Financial Issuance Trust
3.660%, 02/20/29 (144A)		579,538		581,543
6.000%, 02/20/29 (144A)		1,000,000		1,022,595
Oportun Funding IV LLC 3.230%, 06/08/23 (144A)		1,187,000		1,186,755
Oportun Funding IX LLC 3.910%, 07/08/24 (144A)		4,465,000		4,533,283
Oportun Funding LLC 3.970%, 06/08/23 (144A) (a)		2,500,000		2,501,509
Oportun Funding VII LLC 3.220%, 10/10/23 (144A)		988,000		990,260
Oportun Funding X LLC 4.100%, 10/08/24 (144A)		6,506,000		6,669,038
Pretium Mortgage Credit Partners LLC 4.826%, 09/25/58 (144A) (i)		1,868,798		1,879,010
Progress Residential Trust 4.656%, 08/17/35 (144A)		2,568,000		2,647,333
Purchasing Power Funding LLC 3.340%, 08/15/22 (144A)		5,950,000		5,959,682
Renew Financial 3.670%, 09/20/52 (144A)		637,486		661,455
Rice Park Financing Trust 4.625%, 10/31/41 (144A) (f)		2,305,456		2,328,166
SoFi Consumer Loan Program LLC 3.090%, 10/27/25 (144A)		188,033		188,518
SOL S.p.A. 4.160%, 02/09/30		1,763,213		1,790,791
SPS Servicer Advance Receivables Trust 3.960%, 10/17/50 (144A)		1,600,000		1,622,109

BHFTI-188

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Tricon American Homes Trust 2.589%, 11/17/33 (144A)		1,190,100	$	1,188,276
Upgrade Receivables Trust 3.760%, 11/15/24 (144A)		573,716		575,555
Vericrest Opportunity Loan Trust LLC 3.260%, 01/27/23		461,524		459,422
VM DEBT LLC 7.500%, 06/15/24		2,400,000		2,400,000
VOLT LXIV LLC 3.375%, 10/25/47 (144A) (i)		2,095,767		2,098,969
VOLT LXIX LLC 4.213%, 08/25/48 (144A) (i)		1,455,610		1,459,391
VOLT LXX LLC 4.115%, 09/25/48 (144A) (i)		1,555,081		1,559,589
VSE VOI Mortgage LLC 3.560%, 02/20/36 (144A)		1,333,878		1,378,949
				114,543,475
Asset-Backed - Student Loan—0.1%
Academic Loan Funding Trust 3.066%, 1M LIBOR + 0.800%, 12/26/44 (144A) (a)		802,844		798,406
Total Asset-Backed Securities (Cost $209,735,779)				210,860,220
Mortgage-Backed Securities—4.6%
Collateralized Mortgage Obligations—2.7%
ACRE TL 6.196%, 12/15/20		3,800,000		3,800,000
Banc of America Funding Trust 4.836%, 05/20/34 (a)		475,103		492,665
Bear Stearns ALT-A Trust 2.658%, 1M LIBOR + 0.640%, 07/25/34 (a)		491,092		491,988
Global Mortgage Securitization, Ltd. 2.338%, 1M LIBOR + 0.320%, 11/25/32 (144A) (a)		323,345		305,176
HarborView Mortgage Loan Trust 4.677%, 05/19/34 (a)		664,722		688,024
Headlands Residential LLC
3.875%, 08/25/22 (144A) (i)		3,600,000		3,608,708
3.967%, 06/25/24 (144A) (i)		3,100,000		3,115,880
4.250%, 06/25/23 (144A) (i)		4,450,000		4,476,023
Impac CMB Trust 2.758%, 1M LIBOR + 0.740%, 11/25/34 (a)		2,019,145		2,052,470
JPMorgan Mortgage Trust 4.702%, 08/25/34 (a)		118,713		123,770
MASTR Asset Securitization Trust 5.500%, 12/25/33		341,425		348,548
Merrill Lynch Mortgage Investors Trust
2.478%, 1M LIBOR + 0.460%, 04/25/29 (a)		317,259		316,456
2.518%, 1M LIBOR + 0.500%, 05/25/29 (a)		996,454		990,931
2.638%, 1M LIBOR + 0.620%, 10/25/28 (a)		396,095		399,252
2.658%, 1M LIBOR + 0.640%, 10/25/28 (a)		712,026		713,252
3.240%, 6M LIBOR + 0.680%, 01/25/29 (a)		492,541		498,259
Collateralized Mortgage Obligations—(Continued)
Seasoned Credit Risk Transfer Trust
3.500%, 07/25/58		5,126,734		5,381,271
3.500%, 10/25/58		1,348,026		1,453,521
Sequoia Mortgage Trust
2.644%, 1M LIBOR + 0.600%, 12/20/34 (a)		919,284		921,984
2.684%, 1M LIBOR + 0.640%, 01/20/34 (a)		498,694		499,302
2.704%, 1M LIBOR + 0.660%, 07/20/33 (a)		747,556		753,953
2.724%, 1M LIBOR + 0.680%, 10/20/34 (a)		969,377		958,645
2.804%, 1M LIBOR + 0.760%, 04/20/33 (a)		536,225		530,804
Structured Asset Mortgage Investments Trust 2.957%, 1M LIBOR + 0.900%, 05/19/33 (a)		904,284		916,867
Structured Asset Mortgage Investments Trust II
2.757%, 1M LIBOR + 0.700%, 01/19/34 (a)		904,784		895,121
2.757%, 1M LIBOR + 0.700%, 03/19/34 (a)		925,948		918,914
Structured Asset Securities Corp. Mortgage Loan Trust 2.618%, 1M LIBOR + 0.600%, 10/25/27 (a)		173,517		172,918
Structured Asset Securities Corp. Mortgage Pass-Through Certificates 4.235%, 11/25/33 (a)		448,984		456,175
Thornburg Mortgage Securities Trust
2.658%, 1M LIBOR + 0.640%, 09/25/43 (a)		480,793		486,377
4.168%, 12/25/44 (a)		710,831		726,584
4.583%, 04/25/45 (a)		1,312,368		1,318,370
Toorak Mortgage Corp. 3.721%, 09/25/22 (i)		2,107,000		2,110,005
Wells Fargo Mortgage-Backed Securities Trust 4.978%, 03/25/35 (a)		747,771		779,070
				41,701,283
Commercial Mortgage-Backed Securities—1.9%
Arivo Funding, LLC 5.165%, 10/31/19		3,198,371		3,198,371
BAMLL Commercial Mortgage Securities Trust 4.354%, 08/15/46 (144A) (a)		1,200,000		1,304,316
BB-UBS Trust
2.892%, 06/05/30 (144A)		240,000		239,849
3.430%, 11/05/36 (144A)		2,950,000		3,105,579
BXMT, Ltd.
3.975%, 1M LIBOR + 1.950%, 06/15/35 (144A) (a)		2,200,000		2,192,300
4.725%, 1M LIBOR + 2.700%, 06/15/35 (144A) (a)		1,860,000		1,860,000
Commercial Mortgage Trust
0.249%, 07/10/45 (144A) (a) (b)		119,969,510		993,720
3.942%, 04/10/33 (144A) (a)		1,450,000		1,589,326
Credit Suisse Mortgage Capital Certificates 4.373%, 09/15/37 (144A)		1,000,000		996,142
GS Mortgage Securities Corp. II 2.706%, 12/10/27 (144A)		231,158		231,106
Independence Plaza Trust 3.763%, 07/10/35 (144A)		2,935,000		3,129,488
Ladder Capital Commercial Mortgage Trust 3.985%, 02/15/36 (144A)		768,000		850,873
RBS Commercial Funding, Inc. Trust 3.260%, 03/11/31 (144A)		531,000		544,098
RR Trust Zero Coupon, 04/26/48 (144A) (c) (f)		8,830,000		6,859,126

BHFTI-189

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
VNDO Mortgage Trust 2.996%, 11/15/30 (144A)		1,400,000	$	1,432,481
Wells Fargo Commercial Mortgage Trust
2.800%, 03/18/28 (144A) (a)		1,000,000		999,545
2.819%, 08/15/50		22,090		22,069
WF-RBS Commercial Mortgage Trust 4.403%, 03/15/45 (144A) (a)		300,000		303,313
				29,851,702
Total Mortgage-Backed Securities (Cost $69,392,456)				71,552,985
Foreign Government—1.1%
Sovereign—1.1%
Colombia Government International Bonds
4.000%, 02/26/24		923,000		972,842
5.000%, 06/15/45		749,000		877,461
5.625%, 02/26/44		200,000		250,002
7.375%, 09/18/37		200,000		284,752
Israel Government AID Bonds
Zero Coupon, 11/01/24		8,960,000		8,120,953
Zero Coupon, 08/15/25		2,500,000		2,223,851
Mexico Government International Bonds
3.600%, 01/30/25		537,000		557,674
4.125%, 01/21/26		189,000		200,342
4.350%, 01/15/47		228,000		235,389
4.600%, 01/23/46		959,000		1,021,230
4.600%, 02/10/48		200,000		213,752
5.750%, 10/12/10		500,000		574,380
Panama Government International Bond 4.500%, 04/16/50 (e)		350,000		414,754
Republic of South Africa Government Bond 5.875%, 09/16/25		384,000		418,245
Total Foreign Government (Cost $15,637,448)				16,365,627
Short-Term Investment—2.7%
Repurchase Agreement—2.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $41,547,287; collateralized by U.S. Treasury Notes with rates ranging from 2.375% - 2.500%, maturity dates ranging from 01/15/22 - 03/15/22, and an aggregate market value of $42,379,688.		41,546,363		41,546,363
Total Short-Term Investments (Cost $41,546,363)				41,546,363
Securities Lending Reinvestments (j)—2.7%
Security Description	Principal Amount*		Value
Certificates of Deposit—0.8%
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (a)		1,000,000		999,921
Bank of Montreal (Chicago) 2.150%, 1M LIBOR + 0.100%, 10/11/19 (a)		3,000,000		2,999,946
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (a)		1,000,000		999,302
Canadian Imperial Bank of Commerce 2.180%, FEDEFF PRV + 0.350%, 08/06/20 (a)		1,000,000		1,000,005
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (a)		1,000,000		1,000,143
DZ Bank AG Zero Coupon, 10/18/19		1,987,960		1,997,900
Standard Chartered Bank 2.180%, FEDEFF PRV + 0.350%, 02/26/20 (a)		1,500,000		1,499,992
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (a)		2,000,000		1,999,993
				12,497,202
Commercial Paper—0.1%
Industrial & Commercial Bank of China, Corp. 2.470%, 10/25/19		993,688		998,636
Repurchase Agreements—1.8%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $2,000,107; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,514,503; collateralized by various Common Stock with an aggregate market value of $2,750,000.		2,500,000		2,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $2,515,525; collateralized by various Common Stock with an aggregate market value of $2,750,282.		2,500,000		2,500,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,000,067; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,020,001.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $900,060; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $918,000.		900,000		900,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $2,704,286; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $2,758,181.		2,704,098		2,704,098

BHFTI-190

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (j)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $5,000,317; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $5,100,000.		5,000,000	$	5,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,200,066; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,335,602.		1,200,000		1,200,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $700,275; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $777,985.		700,000		700,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $2,000,131; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $2,800,153; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,110,973.		2,800,000		2,800,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $2,400,132; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,666,549.		2,400,000		2,400,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,000,389; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,400,544; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,555,487.		1,400,000		1,400,000
				28,104,098
Total Securities Lending Reinvestments (Cost $41,600,226)				41,599,936
Total Investments—102.2% (Cost $1,517,592,765)				1,582,234,158
Other assets and liabilities (net)—(2.2)%				(33,757,578	)
Net Assets—100.0%			$	1,548,476,580

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 September 30, 2019, the market value of securities loaned was $39,730,299 and the collateral received consisted of cash in the amount of $41,585,746. 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)	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 September 30, 2019, the market value of restricted securities was $17,690,138, which is 1.1% of net assets. See details shown in the Restricted Securities table that follows.
(g)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(h)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2019, these securities represent less than 0.5% of net assets.
(i)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(j)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $275,689,243, which is 17.8% of net assets.

BHFTI-191

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Conix Mortgage Asset Trust, 4.704%, 12/25/47		05/16/13	$	1,078,519	$	1,078,519	$	55,112
Continental Credit Card, 4.290%, 01/15/24		12/12/17		776,950		776,903		779,524
Fort Credit LLC, 5.597%, 11/16/35		11/28/18		5,900,000		5,900,000		5,940,734
LV Tower 52 Issuer LLC, 5.750%, 07/15/19		08/03/15-02/10/17		1,711,236		1,709,313		1,727,476
RR Trust, Zero Coupon, 04/26/48		05/24/18-05/29/18		8,830,000		5,926,793		6,859,126
Rice Park Financing Trust, 4.625%, 10/31/41		11/30/16		2,305,456		2,298,211		2,328,166
							$	17,690,138

Glossary of Abbreviations

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(ICE)—	Intercontinental Exchange, Inc.
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

(ACES)—	Alternative Credit Enhancement Securities
(ARM)—	Adjustable-Rate Mortgage
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-192

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	800,585,492		$	—	$	800,585,492
Total Corporate Bonds & Notes*		—		399,723,535			—		399,723,535
Asset-Backed Securities
Asset-Backed - Automobile		—		92,045,461			—		92,045,461
Asset-Backed - Credit Card		—		3,472,878			—		3,472,878
Asset-Backed - Other		—		111,028,560			3,514,915		114,543,475
Asset-Backed - Student Loan		—		798,406			—		798,406
Total Asset-Backed Securities		—		207,345,305			3,514,915		210,860,220
Total Mortgage-Backed Securities*		—		71,552,985			—		71,552,985
Total Foreign Government*		—		16,365,627			—		16,365,627
Total Short-Term Investment*		—		41,546,363			—		41,546,363
Total Securities Lending Reinvestments*		—		41,599,936			—		41,599,936
Total Investments	$	—	$	1,578,719,243		$	3,514,915	$	1,582,234,158
Collateral for Securities Loaned (Liability)	$	—	$	(41,585,746	)	$	—	$	(41,585,746	)

* 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 September 30, 2019 is not presented.

Transfers from Level 2 to Level 3 in the amount of $3,498,912 were due to a decline in market activity for significant observable inputs, which resulted in a lack of available market inputs to determine price.

BHFTI-193

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—37.2% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.6%
Airbus SE		17,165	$	2,232,055
Boeing Co. (The)		3,236		1,231,201
Dassault Aviation S.A.		413		584,098
General Dynamics Corp.		6,806		1,243,660
Northrop Grumman Corp.		1,716		643,140
Safran S.A.		25,872		4,078,498
Thales S.A.		11,111		1,278,786
Ultra Electronics Holdings plc		7,153		177,974
United Technologies Corp.		13,249		1,808,753
				13,278,165
Air Freight & Logistics—0.1%
Deutsche Post AG		41,581		1,388,900
Yamato Holdings Co., Ltd.		18,300		276,727
				1,665,627
Airlines—0.2%
Delta Air Lines, Inc.		24,093		1,387,757
Japan Airlines Co., Ltd.		22,400		665,778
Qantas Airways, Ltd.		346,264		1,472,425
Ryanair Holdings plc (ADR) (a)		16,415		1,089,628
Southwest Airlines Co.		6,731		363,541
United Airlines Holdings, Inc. (a)		1,501		132,703
				5,111,832
Auto Components—0.2%
BorgWarner, Inc.		1,635		59,972
Bridgestone Corp.		27,200		1,057,701
Cie Automotive S.A.		11,273		282,897
Magna International, Inc.		5,768		307,607
NGK Spark Plug Co., Ltd.		45,100		865,540
Sumitomo Electric Industries, Ltd.		45,400		579,833
TS Tech Co., Ltd.		11,100		339,753
Yokohama Rubber Co., Ltd. (The)		21,400		430,942
				3,924,245
Automobiles—0.8%
Astra International Tbk PT		2,119,100		987,742
Daimler AG		34,167		1,697,105
General Motors Co.		12,571		471,161
Honda Motor Co., Ltd.		67,800		1,765,115
Mahindra & Mahindra, Ltd. (GDR)		152,300		1,180,325
Peugeot S.A.		78,530		1,961,359
Renault S.A.		24,487		1,407,046
Tesla, Inc. (a) (b)		704		169,572
Toyota Motor Corp.		99,100		6,647,053
				16,286,478
Banks—3.6%
Australia & New Zealand Banking Group, Ltd.		98,095		1,895,597
Banco Santander Chile (ADR)		30,340		849,520
Banco Santander S.A.		202,321		824,982
Bank Central Asia Tbk PT		686,600		1,468,608
Bank of America Corp.		142,412		4,154,158
Banks—(Continued)
Bank Rakyat Indonesia Persero Tbk PT		6,453,500		1,874,142
Bankia S.A.		318,027		601,382
BNP Paribas S.A.		42,971		2,095,128
BOC Hong Kong Holdings, Ltd.		125,000		426,526
Capitec Bank Holdings, Ltd.		11,210		953,285
Citigroup, Inc.		41,638		2,876,353
Citizens Financial Group, Inc.		23,588		834,307
Commonwealth Bank of Australia		7,539		412,535
Credicorp, Ltd.		7,050		1,469,502
DBS Group Holdings, Ltd.		198,700		3,581,276
DNB ASA		113,086		1,996,554
East West Bancorp, Inc.		11,014		487,810
Erste Group Bank AG (a)		35,980		1,191,147
Fifth Third Bancorp		20,819		570,024
FinecoBank Banca Fineco S.p.A.		85,850		910,028
First Republic Bank (b)		8,361		808,509
Grupo Financiero Banorte S.A.B. de C.V. - Class O		198,500		1,069,852
Hang Seng Bank, Ltd.		82,500		1,784,874
HDFC Bank, Ltd. (ADR)		130,212		7,428,595
HSBC Holdings plc		312,887		2,400,686
ING Groep NV		122,406		1,283,137
Israel Discount Bank, Ltd. - Class A		160,026		703,945
Itau Unibanco Holding S.A. (ADR)		253,920		2,135,467
KeyCorp (b)		43,996		784,889
Lloyds Banking Group plc		1,050,330		700,439
M&T Bank Corp.		5,633		889,845
Mitsubishi UFJ Financial Group, Inc.		692,000		3,526,905
National Australia Bank, Ltd.		10,122		203,645
PNC Financial Services Group, Inc. (The)		9,019		1,264,103
Public Bank Bhd		111,800		536,309
Regions Financial Corp.		14,549		230,165
Sberbank of Russia PJSC		71,260		250,198
Sberbank of Russia PJSC (ADR)		163,220		2,308,339
Shinsei Bank, Ltd.		61,000		892,075
Siam Commercial Bank PCL (The)		127,200		490,750
Skandinaviska Enskilda Banken AB - Class A		113,166		1,040,942
Standard Chartered plc		182,343		1,532,970
Sumitomo Mitsui Financial Group, Inc.		90,500		3,108,491
Sumitomo Mitsui Trust Holdings, Inc.		29,400		1,065,674
SunTrust Banks, Inc.		18,132		1,247,482
Svenska Handelsbanken AB - A Shares		145,362		1,362,922
U.S. Bancorp		12,002		664,191
UniCredit S.p.A.		10,131		119,687
United Overseas Bank, Ltd.		72,200		1,337,524
Wells Fargo & Co.		55,853		2,817,225
Westpac Banking Corp.		23,051		461,704
				73,924,403
Beverages—0.9%
Ambev S.A. (ADR)		325,230		1,502,563
Anheuser-Busch InBev S.A.		25,744		2,450,829
Asahi Group Holdings, Ltd.		4,200		207,938
Britvic plc		18,574		224,596
Budweiser Brewing Co. APAC, Ltd. (a)		607,300		2,177,313
Carlsberg A/S - Class B		3,911		578,662
Coca-Cola Co. (The)		42,661		2,322,465

BHFTI-194

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Beverages—(Continued)
Coca-Cola European Partners plc		39,723	$	2,202,640
Constellation Brands, Inc. - Class A		2,008		416,218
Diageo plc		17,159		702,149
Fomento Economico Mexicano S.A.B. de C.V. (ADR)		12,200		1,117,276
Heineken NV		5,946		642,969
Keurig Dr Pepper, Inc.		9,183		250,880
Kweichow Moutai Co., Ltd. - Class A		9,156		1,476,129
Molson Coors Brewing Co. - Class B		3,630		208,725
PepsiCo, Inc.		4,409		604,474
Pernod-Ricard S.A.		11,620		2,068,593
				19,154,419
Biotechnology—0.3%
AbbVie, Inc.		22,734		1,721,418
Alexion Pharmaceuticals, Inc. (a)		4,531		443,766
Amgen, Inc.		674		130,426
Biogen, Inc. (a)		2,369		551,551
Celgene Corp. (a)		6,136		609,305
CSL, Ltd.		6,239		985,882
Exact Sciences Corp. (a)		4,977		449,771
Exelixis, Inc. (a)		17,545		310,283
Intercept Pharmaceuticals, Inc. (a) (b)		1,901		126,150
Regeneron Pharmaceuticals, Inc. (a)		1,224		339,538
Sage Therapeutics, Inc. (a)		1,348		189,111
Vertex Pharmaceuticals, Inc. (a)		5,726		970,099
				6,827,300
Building Products—0.2%
Cie de St-Gobain		20,649		811,114
Daikin Industries, Ltd.		13,300		1,746,420
Fortune Brands Home & Security, Inc.		9,375		512,812
Lennox International, Inc.		1,176		285,733
Masco Corp.		12,008		500,493
				3,856,572
Capital Markets—1.0%
3i Group plc		211,824		3,037,370
Ameriprise Financial, Inc.		2,082		306,262
BlackRock, Inc.		1,748		778,979
Charles Schwab Corp. (The)		37,778		1,580,254
Credit Suisse Group AG (a)		69,007		847,263
Deutsche Bank AG		29,810		223,307
Deutsche Boerse AG		8,151		1,274,172
Euronext NV		9,805		801,502
Franklin Resources, Inc. (b)		11,058		319,134
Hong Kong Exchanges and Clearing, Ltd.		48,200		1,422,727
Intercontinental Exchange, Inc.		15,329		1,414,407
Invesco, Ltd. (b)		28,034		474,896
Macquarie Group, Ltd.		1,648		146,025
Magellan Financial Group, Ltd.		27,269		947,952
Morgan Stanley		49,991		2,133,116
Nasdaq, Inc.		5,036		500,327
Natixis S.A.		203,225		843,988
Northern Trust Corp.		4,133		385,692
S&P Global, Inc.		3,939		964,976
Capital Markets—(Continued)
T. Rowe Price Group, Inc.		7,365		841,451
TD Ameritrade Holding Corp.		13,278		620,083
				19,863,883
Chemicals—0.6%
AdvanSix, Inc. (a)		5,031		129,397
Air Liquide S.A.		19,737		2,812,188
Akzo Nobel NV		15,953		1,423,191
BASF SE		5,637		394,330
Celanese Corp.		4,388		536,609
Chr Hansen Holding A/S		7,684		652,391
Corteva, Inc. (a)		10,894		305,032
Daicel Corp.		112,100		953,762
Dow, Inc. (a)		8,482		404,167
DuPont de Nemours, Inc.		6,729		479,845
Eastman Chemical Co.		9,100		671,853
Kureha Corp.		1,600		95,757
Linde plc		2,417		468,221
LyondellBasell Industries NV - Class A		1,824		163,193
NOF Corp.		11,300		374,543
Orica, Ltd.		22,681		345,501
Showa Denko KK		26,700		703,727
Teijin, Ltd.		16,400		316,578
Tokuyama Corp.		14,100		325,892
Toray Industries, Inc.		120,400		898,905
Zeon Corp.		16,500		202,397
				12,657,479
Commercial Services & Supplies—0.2%
Cintas Corp. (b)		387		103,755
Copart, Inc. (a)		8,755		703,289
Edenred		17,036		818,086
SPIE S.A.		36,511		731,457
Waste Connections, Inc.		14,636		1,346,512
Waste Management, Inc.		1,288		148,120
				3,851,219
Communications Equipment—0.1%
Arista Networks, Inc. (a) (b)		1,542		368,415
Cisco Systems, Inc.		18,494		913,789
CommScope Holding Co., Inc. (a) (b)		20,818		244,820
Motorola Solutions, Inc.		623		106,165
Nokia Oyj		83,797		424,662
				2,057,851
Construction & Engineering—0.2%
ACS Actividades de Construccion y Servicios S.A.		48,163		1,926,783
Eiffage S.A.		15,652		1,623,762
Koninklijke BAM Groep NV		71,349		178,399
Obayashi Corp.		32,000		320,301
Vinci S.A.		4,804		517,814
				4,567,059

BHFTI-195

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Construction Materials—0.3%
CRH plc		10,941	$	375,530
HeidelbergCement AG		8,884		642,286
LafargeHolcim, Ltd. (a)		41,259		2,033,390
Martin Marietta Materials, Inc. (b)		3,610		989,501
Rhi Magnesita NV		3,819		190,776
Siam Cement PCL (The)		64,500		860,422
Taiheiyo Cement Corp.		17,900		481,198
Vulcan Materials Co.		4,660		704,778
				6,277,881
Consumer Finance—0.2%
American Express Co.		7,060		835,057
Capital One Financial Corp.		25,066		2,280,504
Synchrony Financial		8,810		300,333
				3,415,894
Containers & Packaging—0.2%
Avery Dennison Corp.		5,831		662,227
Ball Corp.		19,452		1,416,300
Crown Holdings, Inc. (a)		5,703		376,740
Graphic Packaging Holding Co. (b)		25,138		370,786
Packaging Corp. of America (b)		6,363		675,114
WestRock Co.		16,184		589,907
				4,091,074
Distributors—0.0%
Genuine Parts Co.		1,647		164,025
Jardine Cycle & Carriage, Ltd.		5,800		126,255
				290,280
Diversified Consumer Services—0.0%
H&R Block, Inc. (b)		2,511		59,310
Diversified Financial Services—0.3%
Berkshire Hathaway, Inc. - Class B (a)		12,053		2,507,265
EXOR NV		15,733		1,055,620
FirstRand, Ltd. (b)		422,210		1,737,012
Mitsubishi UFJ Lease & Finance Co., Ltd.		44,900		260,636
ORIX Corp.		66,600		996,707
Voya Financial, Inc.		887		48,288
				6,605,528
Diversified Telecommunication Services—0.7%
AT&T, Inc.		2,558		96,795
Deutsche Telekom AG		103,872		1,743,753
Nippon Telegraph & Telephone Corp.		68,900		3,295,397
Orange S.A.		68,184		1,070,242
Swisscom AG		1,488		733,907
Telefonica S.A.		50,784		387,784
Telenor ASA		180,631		3,624,361
Verizon Communications, Inc.		46,624		2,814,225
				13,766,464
Electric Utilities—0.9%
American Electric Power Co., Inc.		18,451		1,728,674
Duke Energy Corp.		3,860		370,020
Edison International		15,681		1,182,661
Endesa S.A.		70,637		1,858,369
Enel S.p.A.		410,301		3,065,722
Entergy Corp.		4,778		560,746
Eversource Energy (b)		4,788		409,230
Exelon Corp.		3,171		153,191
Iberdrola S.A.		267,824		2,783,288
NextEra Energy, Inc.		9,980		2,325,240
Red Electrica Corp. S.A.		60,615		1,230,546
SSE plc		108,542		1,663,009
Verbund AG		3,049		166,782
Xcel Energy, Inc.		30,630		1,987,581
				19,485,059
Electrical Equipment—0.5%
AMETEK, Inc.		5,460		501,337
Eaton Corp. plc		18,009		1,497,448
Fuji Electric Co., Ltd.		23,600		728,184
Generac Holdings, Inc. (a)		6,210		486,491
Huber & Suhner AG		2,530		162,860
Mabuchi Motor Co., Ltd.		36,800		1,381,772
Schneider Electric SE		50,827		4,457,552
Signify NV		25,947		713,333
				9,928,977
Electronic Equipment, Instruments & Components—0.4%
Amano Corp.		11,100		339,993
Amphenol Corp. - Class A		4,889		471,788
Arrow Electronics, Inc. (a)		6,704		499,984
Barco NV		1,017		200,801
Corning, Inc.		7,867		224,367
Delta Electronics, Inc.		249,867		1,071,022
Hitachi, Ltd.		59,900		2,243,207
Ingenico Group S.A.		4,956		483,844
Japan Aviation Electronics Industry, Ltd.		12,000		171,496
Keyence Corp.		700		436,126
Keysight Technologies, Inc. (a)		6,380		620,455
Landis & Gyr Group AG (a)		7,597		681,034
Largan Precision Co., Ltd.		6,000		867,217
Zebra Technologies Corp. - Class A (a)		2,800		577,836
				8,889,170
Entertainment—0.4%
Capcom Co., Ltd.		30,100		796,605
Electronic Arts, Inc. (a)		6,524		638,178
GungHo Online Entertainment, Inc.		12,310		279,092
Netflix, Inc. (a)		6,582		1,761,475
Nexon Co., Ltd. (a)		64,600		784,022
Nintendo Co., Ltd.		6,000		2,233,868
Spotify Technology S.A. (a)		3,928		447,792
Take-Two Interactive Software, Inc. (a)		7,768		973,641
Viacom, Inc. - Class B		1,100		26,433

BHFTI-196

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Entertainment—(Continued)
Walt Disney Co. (The)		4,867	$	634,267
				8,575,373
Equity Real Estate Investment Trusts—0.5%
American Homes 4 Rent Trust - Class A		13,709		354,926
AvalonBay Communities, Inc.		3,436		739,874
Boston Properties, Inc.		1,293		167,650
Brixmor Property Group, Inc. (b)		25,375		514,859
Dexus		115,206		928,178
Digital Realty Trust, Inc. (b)		953		123,709
EastGroup Properties, Inc.		2,021		252,665
Equinix, Inc.		1,137		655,822
Equity Residential		2,634		227,209
Federal Realty Investment Trust		5,178		704,933
Goodman Group		106,425		1,018,357
Host Hotels & Resorts, Inc.		10,630		183,793
Kimco Realty Corp. (b)		21,532		449,588
Mid-America Apartment Communities, Inc.		6,257		813,473
Outfront Media, Inc.		16,215		450,453
Prologis, Inc.		8,874		756,242
Public Storage		3,334		817,730
Rayonier, Inc.		11,850		334,170
Unibail-Rodamco-Westfield		3,594		523,937
Ventas, Inc.		3,502		255,751
VICI Properties, Inc. (b)		5,639		127,723
Weyerhaeuser Co.		7,857		217,639
				10,618,681
Food & Staples Retailing—0.5%
Bid Corp., Ltd.		75,189		1,599,310
Koninklijke Ahold Delhaize NV		93,195		2,331,315
Metcash, Ltd.		173,942		351,323
METRO AG		30,782		485,692
President Chain Store Corp.		162,000		1,515,377
Raia Drogasil S.A.		32,320		745,275
Seven & i Holdings Co., Ltd.		45,600		1,749,891
Wal-Mart de Mexico S.A.B. de C.V. (b)		415,644		1,231,936
Walgreens Boots Alliance, Inc.		8,864		490,268
				10,500,387
Food Products—0.8%
Conagra Brands, Inc. (b)		3,089		94,771
Foshan Haitian Flavouring & Food Co., Ltd. - Class A		37,971		585,891
General Mills, Inc.		8,981		495,033
Greencore Group plc		117,349		325,899
Mondelez International, Inc. - Class A		18,895		1,045,271
Morinaga & Co., Ltd.		9,300		451,815
Nestle S.A.		113,376		12,298,358
Post Holdings, Inc. (a)		4,797		507,714
Tate & Lyle plc		49,492		448,147
Tiger Brands, Ltd.		27,870		387,623
				16,640,522
Gas Utilities—0.2%
Enagas S.A.		47,528		1,102,141
Snam S.p.A.		336,756		1,702,637
Tokyo Gas Co., Ltd.		16,900		427,271
				3,232,049
Health Care Equipment & Supplies—0.4%
Becton Dickinson & Co.		706		178,590
Boston Scientific Corp. (a)		31,848		1,295,895
DexCom, Inc. (a)		3,246		484,433
Intuitive Surgical, Inc. (a)		1,630		880,086
Koninklijke Philips NV		14,438		669,270
Medtronic plc		21,016		2,282,758
Olympus Corp.		24,700		334,311
Zimmer Biomet Holdings, Inc.		8,632		1,184,914
				7,310,257
Health Care Providers & Services—0.4%
Acadia Healthcare Co., Inc. (a) (b)		8,848		274,996
Alfresa Holdings Corp.		15,100		338,803
AmerisourceBergen Corp.		3,692		303,962
Anthem, Inc.		4,729		1,135,433
Cigna Corp. (a)		9,151		1,389,030
HCA Healthcare, Inc.		1,858		223,740
McKesson Corp.		1,183		161,669
Medipal Holdings Corp.		15,600		348,753
Ship Healthcare Holdings, Inc.		3,600		153,698
UnitedHealth Group, Inc.		17,495		3,802,013
				8,132,097
Health Care Technology—0.1%
Teladoc Health, Inc. (a) (b)		10,642		720,676
Veeva Systems, Inc. - Class A (a) (b)		2,759		421,272
				1,141,948
Hotels, Restaurants & Leisure—0.5%
Betsson AB (a)		19,383		93,854
Brinker International, Inc. (b)		6,864		292,887
Greene King plc		60,664		631,651
Hilton Worldwide Holdings, Inc.		13,265		1,235,104
Huazhu Group, Ltd. (ADR) (b)		33,100		1,092,962
InterContinental Hotels Group plc		33,797		2,109,167
McDonald’s Corp.		2,202		472,792
Royal Caribbean Cruises, Ltd.		1,322		143,212
Sands China, Ltd.		273,200		1,247,383
Sodexo S.A.		9,499		1,067,062
Whitbread plc		9,734		513,856
Yum China Holdings, Inc.		25,830		1,173,457
Yum! Brands, Inc.		9,474		1,074,636
				11,148,023
Household Durables—0.6%
Barratt Developments plc		200,092		1,594,714
Berkeley Group Holdings plc		17,503		899,336
Bovis Homes Group plc		13,252		181,513

BHFTI-197

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Durables—(Continued)
Garmin, Ltd.		3,751	$	317,672
Lennar Corp. - Class A		7,618		425,465
Midea Group Co., Ltd. - Class A		144,700		1,042,048
Panasonic Corp.		109,000		887,865
Redrow plc		124,204		943,765
Sekisui House, Ltd.		60,300		1,190,177
Sony Corp.		52,000		3,055,547
Taylor Wimpey plc		718,001		1,425,716
				11,963,818
Household Products—0.2%
Clorox Co. (The) (b)		1,148		174,347
Energizer Holdings, Inc. (b)		9,057		394,704
Kimberly-Clark Corp.		585		83,099
Procter & Gamble Co. (The)		21,451		2,668,076
Unilever Indonesia Tbk PT		160,000		524,973
				3,845,199
Independent Power and Renewable Electricity Producers—0.0%
Electric Power Development Co., Ltd.		15,300		350,414
Industrial Conglomerates—0.3%
Bidvest Group, Ltd. (The)		45,249		570,800
Carlisle Cos., Inc.		2,266		329,794
CK Hutchison Holdings, Ltd.		79,500		698,915
Honeywell International, Inc.		14,017		2,371,677
Jardine Matheson Holdings, Ltd.		29,800		1,598,370
KOC Holding A/S		111,570		373,915
Siemens AG		4,806		515,028
				6,458,499
Insurance—2.4%
Ageas		35,062		1,945,744
AIA Group, Ltd.		854,800		8,020,725
Alleghany Corp. (a)		359		286,396
Allianz SE		15,997		3,730,435
Allstate Corp. (The)		3,961		430,481
American International Group, Inc.		25,723		1,432,771
Arthur J. Gallagher & Co.		2,589		231,897
ASR Nederland NV		24,923		920,964
Assicurazioni Generali S.p.A.		49,395		957,911
Assurant, Inc.		359		45,169
Aviva plc		194,295		952,841
AXA S.A.		23,644		604,352
Chubb, Ltd.		3,326		536,949
Dai-ichi Life Holdings, Inc.		35,300		536,426
Everest Re Group, Ltd.		831		221,121
Fairfax Financial Holdings, Ltd.		598		263,706
Hannover Rueck SE		7,102		1,201,174
Hartford Financial Services Group, Inc. (The)		23,652		1,433,548
HDFC Life Insurance Co., Ltd.		183,650		1,555,177
Legal & General Group plc		622,168		1,899,695
Lincoln National Corp.		4,658		280,971
Loews Corp. (b)		23,055		1,186,871
Marsh & McLennan Cos., Inc.		5,249		525,162
Insurance—(Continued)
Muenchener Rueckversicherungs-Gesellschaft AG		9,140		2,364,725
Ping An Insurance Group Co. of China, Ltd. - Class H		430,000		4,976,264
Principal Financial Group, Inc.		3,974		227,074
Progressive Corp. (The)		10,283		794,362
Prudential Financial, Inc.		5,737		516,043
Prudential plc		124,267		2,256,807
Sanlam, Ltd.		138,230		681,715
Swiss Life Holding AG		4,242		2,027,370
Swiss Re AG		15,825		1,651,488
T&D Holdings, Inc.		103,900		1,109,413
Tokio Marine Holdings, Inc.		32,500		1,744,888
Topdanmark A/S		7,467		360,394
Travelers Cos., Inc. (The)		5,882		874,595
Willis Towers Watson plc		113		21,806
Zurich Insurance Group AG		1,470		562,503
				49,369,933
Interactive Media & Services—0.9%
Alphabet, Inc. - Class A (a)		2,300		2,808,622
Alphabet, Inc. - Class C (a)		4,834		5,892,646
Baidu, Inc. (ADR) (a) (b)		5,440		559,014
Facebook, Inc. - Class A (a)		11,497		2,047,386
NAVER Corp.		8,250		1,084,989
Tencent Holdings, Ltd.		150,200		6,374,442
				18,767,099
Internet & Direct Marketing Retail—0.9%
Alibaba Group Holding, Ltd. (ADR) (a)		31,126		5,205,201
Amazon.com, Inc. (a)		4,745		8,236,893
Booking Holdings, Inc. (a)		53		104,018
Expedia Group, Inc.		11,346		1,525,016
JD.com, Inc. (ADR) (a)		40,030		1,129,246
MercadoLibre, Inc. (a)		4,210		2,320,678
Wayfair, Inc. - Class A (a) (b)		2,263		253,728
				18,774,780
IT Services—1.5%
Accenture plc - Class A		7,513		1,445,126
Adyen NV (a)		1,255		827,492
Automatic Data Processing, Inc.		10,547		1,702,497
Booz Allen Hamilton Holding Corp.		6,890		489,328
CANCOM SE		1,815		97,870
Capgemini SE		25,397		2,995,736
Cognizant Technology Solutions Corp. - Class A		9,586		577,700
Computacenter plc		10,007		159,151
Digital Garage, Inc.		12,800		410,552
Fiserv, Inc. (a)		8,946		926,716
Global Payments, Inc.		6,548		1,041,132
Infosys, Ltd. (ADR)		274,440		3,120,383
MasterCard, Inc. - Class A		17,544		4,764,424
Nihon Unisys, Ltd.		24,200		779,559
Nomura Research Institute, Ltd.		23,900		477,208
NS Solutions Corp.		6,300		206,625
Otsuka Corp.		44,000		1,763,157
PayPal Holdings, Inc. (a)		24,614		2,549,764

BHFTI-198

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
SCSK Corp.		5,500	$	259,270
Tata Consultancy Services, Ltd.		116,160		3,436,275
TIS, Inc.		12,800		738,004
Visa, Inc. - Class A (b)		15,840		2,724,638
				31,492,607
Leisure Products—0.1%
Bandai Namco Holdings, Inc.		19,900		1,239,771
Hasbro, Inc.		1,946		230,970
				1,470,741
Life Sciences Tools & Services—0.1%
Illumina, Inc. (a)		2,615		795,535
Thermo Fisher Scientific, Inc.		7,922		2,307,441
				3,102,976
Machinery—0.7%
Alstom S.A.		29,836		1,237,142
Bucher Industries AG		996		311,781
Caterpillar, Inc.		3,252		410,760
Cummins, Inc.		4,524		735,919
Deere & Co.		2,804		472,979
DMG Mori Co., Ltd.		135,300		1,937,175
Dover Corp.		4,826		480,477
Illinois Tool Works, Inc.		3,657		572,284
Ingersoll-Rand plc		4,943		609,027
Middleby Corp. (The) (a)		1,949		227,838
Mitsubishi Heavy Industries, Ltd.		22,600		888,987
Nordson Corp.		2,324		339,908
PACCAR, Inc.		4,556		318,966
Parker-Hannifin Corp.		4,359		787,279
Sandvik AB		42,498		661,807
SKF AB - B Shares		58,768		972,536
Snap-on, Inc.		1,485		232,462
Stanley Black & Decker, Inc.		8,818		1,273,407
Techtronic Industries Co., Ltd.		154,000		1,080,764
Valmet Oyj		677		13,138
Wartsila Oyj Abp		93,326		1,046,886
WEG S.A.		145,602		849,092
				15,460,614
Media—0.5%
Altice USA, Inc. - Class A (a)		9,844		282,326
CBS Corp. - Class B		7,666		309,476
Charter Communications, Inc. - Class A (a)		5,163		2,127,776
Comcast Corp. - Class A		56,739		2,557,794
Discovery, Inc. - Class A (a)		13,779		366,935
Discovery, Inc. - Class C (a)		15,045		370,408
DISH Network Corp. - Class A (a) (b)		13,309		453,438
Entercom Communications Corp. - Class A (b)		44,321		148,032
I-CABLE Communications, Ltd. (a)		26,899		256
ITV plc		620,561		958,537
Mediaset Espana Comunicacion S.A.		92,499		596,114
New York Times Co. (The) - Class A (b)		9,180		261,446
Media—(Continued)
Nexstar Media Group, Inc. - Class A (b)		4,069		416,299
Stroeer SE & Co. KGaA		2,503		190,611
Telenet Group Holding NV		20,910		987,018
				10,026,466
Metals & Mining—0.8%
Alumina, Ltd.		487,654		780,687
Anglo American plc		81,691		1,881,952
ArcelorMittal		45,970		647,991
BHP Group, Ltd.		227,070		5,621,691
Evolution Mining, Ltd.		341,401		1,036,435
Evraz plc		112,364		646,554
Fortescue Metals Group, Ltd.		83,226		499,141
Freeport-McMoRan, Inc.		8,136		77,862
Independence Group NL		123,878		539,320
Newcrest Mining, Ltd.		19,052		444,187
Newmont Goldcorp Corp.		2,945		111,674
Regis Resources, Ltd.		110,406		362,311
Rio Tinto plc		65,527		3,403,605
Rio Tinto, Ltd.		23,425		1,473,272
				17,526,682
Multi-Utilities—0.3%
AGL Energy, Ltd.		40,733		526,409
E.ON SE		178,310		1,732,863
NiSource, Inc.		7,758		232,119
RWE AG		85,414		2,672,540
Sempra Energy		2,980		439,878
				5,603,809
Multiline Retail—0.3%
Kohl’s Corp.		8,631		428,615
Lojas Renner S.A.		149,743		1,818,922
Marui Group Co., Ltd. (b)		54,200		1,149,235
Next plc		26,275		1,998,541
Nordstrom, Inc. (b)		11,585		390,067
Ryohin Keikaku Co., Ltd.		34,400		645,552
				6,430,932
Oil, Gas & Consumable Fuels—1.6%
Beach Energy, Ltd.		531,974		915,195
BP plc		526,768		3,330,542
Chevron Corp.		30,411		3,606,745
Concho Resources, Inc.		1,416		96,146
ConocoPhillips		14,570		830,199
Diamondback Energy, Inc.		10,573		950,618
EOG Resources, Inc.		18,780		1,393,852
EQT Corp. (b)		16,810		178,858
Equitrans Midstream Corp. (b)		14,123		205,490
Exxon Mobil Corp.		10,593		747,972
Gaztransport Et Technigaz S.A.		3,698		366,486
Kinder Morgan, Inc.		33,049		681,140
Lundin Petroleum AB		42,699		1,277,331
Marathon Petroleum Corp.		24,982		1,517,656

BHFTI-199

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Neste Oyj		60,340	$	1,993,713
OMV AG		25,773		1,380,745
ONEOK, Inc.		9,017		664,463
PBF Energy, Inc. - Class A		8,825		239,952
Phillips 66		4,527		463,565
Pioneer Natural Resources Co.		5,828		732,987
Repsol S.A.		25,039		390,564
Royal Dutch Shell plc - A Shares		55,172		1,612,636
Royal Dutch Shell plc - B Shares		201,772		5,927,465
Total S.A.		59,487		3,096,888
Tullow Oil plc		239,272		626,863
Williams Cos., Inc. (The)		20,701		498,066
				33,726,137
Personal Products—0.3%
Coty, Inc. - Class A		18,942		199,080
Kao Corp.		24,400		1,809,583
Unilever NV		41,260		2,479,235
Unilever plc		44,509		2,676,255
				7,164,153
Pharmaceuticals—2.2%
Allergan plc		5,289		890,086
AstraZeneca plc		10,365		921,083
Bayer AG		14,685		1,035,394
Bristol-Myers Squibb Co. (b)		14,883		754,717
Catalent, Inc. (a) (b)		6,880		327,901
Elanco Animal Health, Inc. (a)		11,470		304,987
Eli Lilly & Co.		10,122		1,131,943
GlaxoSmithKline plc		216,578		4,635,979
Jazz Pharmaceuticals plc (a)		3,829		490,648
Johnson & Johnson		17,980		2,326,252
Kaken Pharmaceutical Co., Ltd.		3,100		144,069
Merck & Co., Inc.		35,326		2,973,743
Novartis AG		89,023		7,728,559
Novo Nordisk A/S - Class B		74,221		3,832,403
Otsuka Holdings Co., Ltd.		39,900		1,492,434
Pfizer, Inc.		58,569		2,104,384
Roche Holding AG		31,717		9,249,474
Sanofi		36,164		3,353,434
Shionogi & Co., Ltd.		19,100		1,065,608
TherapeuticsMD, Inc. (a) (b)		38,401		139,396
				44,902,494
Professional Services—0.3%
Adecco Group AG		30,143		1,667,298
IHS Markit, Ltd. (a)		7,640		510,963
Intertrust NV		13,692		267,826
IPH, Ltd.		21,149		124,541
Meitec Corp.		3,600		177,023
Persol Holdings Co., Ltd.		34,200		650,997
Wolters Kluwer NV		28,877		2,109,081
				5,507,729
Real Estate Management & Development—0.3%
CBRE Group, Inc. - Class A (a)		23,813		1,262,327
CK Asset Holdings, Ltd.		99,000		674,148
Kerry Properties, Ltd.		59,000		182,592
Mitsui Fudosan Co., Ltd.		95,700		2,381,744
New World Development Co., Ltd.		549,000		717,178
Nomura Real Estate Holdings, Inc.		18,400		399,020
Tokyo Tatemono Co., Ltd.		41,200		581,386
				6,198,395
Road & Rail—0.5%
Aurizon Holdings, Ltd.		338,300		1,348,628
Central Japan Railway Co.		6,900		1,424,198
Kansas City Southern		603		80,205
Lyft, Inc. - Class A (a) (b)		7,906		322,881
National Express Group plc		19,677		104,759
Norfolk Southern Corp.		7,665		1,377,094
Old Dominion Freight Line, Inc. (b)		3,039		516,539
Sankyu, Inc.		5,900		307,904
Tokyu Corp.		89,600		1,687,190
Union Pacific Corp.		5,899		955,520
West Japan Railway Co.		15,700		1,329,909
				9,454,827
Semiconductors & Semiconductor Equipment—1.4%
Advanced Micro Devices, Inc. (a)		38,852		1,126,319
Advantest Corp.		25,600		1,132,265
Analog Devices, Inc.		15,774		1,762,429
ASM International NV		17,033		1,571,322
ASML Holding NV		10,738		2,665,193
BE Semiconductor Industries NV		13,692		429,605
Dialog Semiconductor plc (a)		29,224		1,384,521
Infineon Technologies AG		56,442		1,014,603
Intel Corp.		4,589		236,471
KLA Corp.		5,548		884,629
Microchip Technology, Inc. (b)		2,800		260,148
NVIDIA Corp.		9,358		1,628,947
NXP Semiconductors NV		8,326		908,533
QUALCOMM, Inc.		10,725		818,103
Renesas Electronics Corp. (a)		71,600		465,644
Skyworks Solutions, Inc.		573		45,410
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		153,050		7,113,764
Teradyne, Inc.		13,479		780,569
Texas Instruments, Inc.		17,949		2,319,729
Tokyo Electron, Ltd.		6,300		1,210,109
Xilinx, Inc. (b)		3,690		353,871
				28,112,184
Software—1.2%
Avast plc		311,743		1,488,147
Fair Isaac Corp. (a)		770		233,710
Intuit, Inc.		4,884		1,298,851
Microsoft Corp.		97,113		13,501,620
Salesforce.com, Inc. (a)		14,220		2,110,817
SAP SE		27,145		3,191,287
ServiceNow, Inc. (a)		2,905		737,434

BHFTI-200

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Software—(Continued)
Slack Technologies, Inc. - Class A (a) (b)		5,340	$	126,718
Splunk, Inc. (a)		2,275		268,132
Synopsys, Inc. (a)		3,740		513,315
TeamViewer AG (a)		22,141		595,834
Trade Desk, Inc. (The) - Class A (a) (b)		1,950		365,722
Zscaler, Inc. (a)		4,800		226,848
				24,658,435
Specialty Retail—0.9%
Advance Auto Parts, Inc. (b)		3,341		552,601
AutoZone, Inc. (a)		1,851		2,007,632
Best Buy Co., Inc.		15,145		1,044,854
CECONOMY AG (a)		49,203		266,339
Dixons Carphone plc		338,695		495,256
Dunelm Group plc		20,700		213,354
Hikari Tsushin, Inc.		1,900		412,722
Home Depot, Inc. (The)		15,288		3,547,122
Industria de Diseno Textil S.A.		66,947		2,073,767
JB Hi-Fi, Ltd.		34,960		803,150
Lowe’s Cos., Inc.		11,583		1,273,667
Mr. Price Group, Ltd.		27,840		291,080
Murphy USA, Inc. (a)		3,040		259,312
National Vision Holdings, Inc. (a)		9,210		221,685
O’Reilly Automotive, Inc. (a)		2,943		1,172,815
Pets at Home Group plc		44,682		114,382
Ross Stores, Inc.		15,954		1,752,547
Tiffany & Co. (b)		4,012		371,632
TJX Cos., Inc. (The)		18,018		1,004,323
Tractor Supply Co.		6,450		583,338
				18,461,578
Technology Hardware, Storage & Peripherals—0.9%
Apple, Inc.		43,697		9,786,817
Brother Industries, Ltd.		39,900		728,203
FUJIFILM Holdings Corp.		26,300		1,159,046
Hewlett Packard Enterprise Co.		8,959		135,908
HP, Inc. (b)		20,778		393,120
Logitech International S.A.		31,968		1,298,475
Samsung Electronics Co., Ltd. (GDR)		4,924		5,012,632
				18,514,201
Textiles, Apparel & Luxury Goods—0.4%
adidas AG		11,231		3,495,341
Burberry Group plc		48,846		1,306,495
Cie Financiere Richemont S.A.		24,923		1,831,629
Columbia Sportswear Co.		2,712		262,766
lululemon athletica, Inc. (a)		2,685		516,943
LVMH Moet Hennessy Louis Vuitton SE		319		126,984
NIKE, Inc. - Class B		7,785		731,167
Ralph Lauren Corp.		1,653		157,812
				8,429,137
Thrifts & Mortgage Finance—0.3%
Deutsche Pfandbriefbank AG		21,836		266,474
Housing Development Finance Corp., Ltd.		176,520		4,928,188
				5,194,662
Tobacco—0.3%
Altria Group, Inc.		11,862		485,156
British American Tobacco plc		65,846		2,434,432
ITC, Ltd.		442,927		1,622,085
Japan Tobacco, Inc.		46,500		1,018,949
Philip Morris International, Inc.		19,463		1,477,826
				7,038,448
Trading Companies & Distributors—0.5%
Ashtead Group plc		56,086		1,560,662
Brenntag AG		24,940		1,206,952
Ferguson plc (a)		14,357		1,048,929
HD Supply Holdings, Inc. (a)		5,530		216,638
Howden Joinery Group plc		28,068		193,363
ITOCHU Corp.		64,400		1,334,986
Marubeni Corp.		153,300		1,023,209
Mitsubishi Corp.		63,700		1,568,587
Mitsui & Co., Ltd.		49,000		805,124
Sojitz Corp.		107,900		335,872
Sumitomo Corp.		40,600		636,902
Toyota Tsusho Corp.		18,000		583,735
				10,514,959
Transportation Infrastructure—0.1%
Aena SME S.A.		9,171		1,680,783
Kamigumi Co., Ltd.		6,000		135,926
				1,816,709
Wireless Telecommunication Services—0.1%
KDDI Corp.		61,300		1,602,390
SoftBank Group Corp.		8,200		322,073
T-Mobile U.S., Inc. (a)		2,581		203,305
Vodafone Group plc		151,190		301,093
				2,428,861
Total Common Stocks (Cost $708,555,944)				769,902,984
Convertible Bonds—17.6%
Aerospace/Defense—1.8%
Airbus SE Zero Coupon, 06/14/21 (EUR)		7,800,000		9,481,324
Zero Coupon, 07/01/22 (EUR)		7,200,000		9,820,069
Arconic, Inc. 1.625%, 10/15/19		2,200,000		2,196,441
MTU Aero Engines AG 0.125%, 05/17/23 (EUR)		3,000,000		6,495,526

BHFTI-201

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Convertible Bonds—(Continued)

Security Description	Principal Amount*		Value
Aerospace/Defense—(Continued)
Safran S.A. Zero Coupon, 06/21/23 (EUR)		4,787,500	$	8,718,829
				36,712,189
Airlines—0.3%
ANA Holdings, Inc. Zero Coupon, 09/16/22 (JPY)		670,000,000		6,119,350
Apparel—1.1%
adidas AG 0.050%, 09/12/23 (EUR)		8,600,000		11,542,243
LVMH Moet Hennessy Louis Vuitton SE Zero Coupon, 02/16/21		2,599,700		11,125,393
				22,667,636
Banks—0.7%
BofA Finance LLC 0.250%, 05/01/23		6,725,000		6,742,122
Deutsche Bank AG 1.000%, 05/01/23		900,000		899,550
Gunma Bank, Ltd. (The) Zero Coupon, 10/11/19		2,100,000		2,024,925
Yamaguchi Financial Group, Inc. 1.613%, 3M LIBOR - 0.500%, 03/26/20 (c)		3,800,000		3,712,760
				13,379,357
Beverages—0.4%
Remy Cointreau S.A. 0.125%, 09/07/26 (EUR)		5,725,000		8,880,020
Biotechnology—0.4%
Illumina, Inc.
Zero Coupon, 08/15/23 (b)		4,797,000		5,306,681
0.500%, 06/15/21		1,994,000		2,641,905
				7,948,586
Building Materials—0.7%
Sika AG 0.150%, 06/05/25 (CHF)		11,360,000		12,555,299
3.750%, 01/30/22 (CHF)		1,800,000		2,045,549
				14,600,848
Chemicals—0.5%
Symrise AG 0.238%, 06/20/24 (EUR)		5,200,000		6,712,197
Toray Industries, Inc. Zero Coupon, 08/31/21 (JPY)		420,000,000		4,326,875
				11,039,072
Coal—0.3%
RAG-Stiftung Zero Coupon, 02/18/21 (EUR)		5,400,000		5,921,165
Commercial Services—0.6%
Euronet Worldwide, Inc. 0.750%, 03/15/49 (144A) (b)		8,786,000		10,285,112
Toppan Printing Co., Ltd. Zero Coupon, 12/19/19 (JPY)		290,000,000		2,693,446
				12,978,558
Diversified Financial Services—0.4%
SBI Holdings, Inc. Zero Coupon, 09/13/23 (JPY)		760,000,000		7,327,630
Electric—0.2%
Iberdrola International B.V. Zero Coupon, 11/11/22 (EUR)		3,600,000		4,678,547
Electronics—0.6%
Fortive Corp. 0.875%, 02/15/22 (144A)		10,137,000		10,029,294
Minebea Mitsumi, Inc. Zero Coupon, 08/03/22 (JPY)		160,000,000		1,649,084
				11,678,378
Engineering & Construction—1.0%
Cellnex Telecom S.A. 1.500%, 01/16/26 (EUR)		6,400,000		8,943,521
Shimizu Corp. Zero Coupon, 10/16/20 (JPY)		420,000,000		3,913,526
Vinci S.A. 0.375%, 02/16/22		6,200,000		7,438,264
				20,295,311
Forest Products & Paper—0.0%
Daio Paper Corp. Zero Coupon, 09/17/20 (JPY)		100,000,000		933,229
Gas—0.3%
Snam S.p.A. Zero Coupon, 03/20/22 (EUR)		5,500,000		6,585,208
Healthcare-Products—0.4%
QIAGEN NV 0.500%, 09/13/23		8,600,000		9,078,266
Healthcare-Services—0.7%
Anthem, Inc. 2.750%, 10/15/42		2,241,000		7,496,462
Fresenius Medical Care AG & Co. KGaA 1.125%, 01/31/20 (EUR)		6,100,000		6,748,864
				14,245,326
Home Furnishings—0.6%
Sony Corp. Zero Coupon, 09/30/22 (JPY)		911,000,000		11,493,330

BHFTI-202

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Convertible Bonds—(Continued)

Security Description	Principal Amount*		Value
Internet—0.9%
Booking Holdings, Inc. 0.350%, 06/15/20		7,288,000	$	10,893,258
0.900%, 09/15/21 (b)		7,180,000		8,325,328
				19,218,586
Investment Companies—0.3%
Ares Capital Corp. 3.750%, 02/01/22 (b)		5,280,000		5,456,476
4.625%, 03/01/24 (b)		1,599,000		1,681,748
				7,138,224
Mining—0.3%
Glencore Funding LLC Zero Coupon, 03/27/25		6,200,000		5,322,700
Oil & Gas—0.8%
BP Capital Markets plc 1.000%, 04/28/23 (GBP)		4,000,000		6,126,255
Oasis Petroleum, Inc. 2.625%, 09/15/23		30,000		22,211
TOTAL S.A. 0.500%, 12/02/22		9,600,000		10,086,720
				16,235,186
Oil & Gas Services—0.4%
TechnipFMC plc 0.875%, 01/25/21 (EUR)		7,400,000		8,431,006
Real Estate—1.7%
CA Immobilien Anlagen AG 0.750%, 04/04/25 (EUR)		1,300,000		1,717,685
CapitaLand, Ltd. 1.850%, 06/19/20 (SGD)		6,250,000		4,474,463
China Overseas Finance Investment Cayman V, Ltd. Zero Coupon, 01/05/23		4,400,000		4,855,760
Deutsche Wohnen SE 0.325%, 07/26/24 (EUR)		9,300,000		10,734,977
Grand City Properties S.A. 0.250%, 03/02/22 (EUR)		3,600,000		4,206,485
LEG Immobilien AG 0.875%, 09/01/25 (EUR)		4,600,000		5,921,765
TAG Immobilien AG 0.625%, 09/01/22 (EUR)		2,100,000		2,836,084
				34,747,219
Semiconductors—1.9%
Intel Corp. 3.250%, 08/01/39		7,205,000		18,300,556
Novellus Systems, Inc. 2.625%, 05/15/41		1,186,000		8,474,980
STMicroelectronics NV Zero Coupon, 07/03/22		10,200,000		11,821,086
				38,596,622
Software—0.2%
Akamai Technologies, Inc. 0.375%, 09/01/27 (144A)		4,250,000		4,332,444
Telecommunications—0.1%
Vodafone Group plc 1.500%, 03/12/22 (GBP)		1,600,000		2,463,956
Total Convertible Bonds (Cost $339,827,194)				363,047,949
Corporate Bonds & Notes—15.8%
Aerospace/Defense—0.3%
Arconic, Inc. 5.125%, 10/01/24		155,000		165,075
Boeing Co. (The) 3.100%, 05/01/26		385,000		403,955
3.250%, 02/01/35		238,000		247,863
3.600%, 05/01/34		375,000		406,840
3.950%, 08/01/59		195,000		214,894
Bombardier, Inc. 7.500%, 03/15/25 (144A) (b)		245,000		244,694
L3Harris Technologies, Inc. 3.832%, 04/27/25		581,000		620,556
3.850%, 12/15/26 (144A)		460,000		495,073
4.400%, 06/15/28 (144A)		128,000		143,493
4.854%, 04/27/35		50,000		59,220
Lockheed Martin Corp. 3.550%, 01/15/26		110,000		117,953
Northrop Grumman Corp. 2.930%, 01/15/25		115,000		118,561
Rockwell Collins, Inc. 3.200%, 03/15/24		978,000		1,015,883
4.350%, 04/15/47		50,000		58,515
Triumph Group, Inc. 6.250%, 09/15/24 (144A)		20,000		20,804
7.750%, 08/15/25		250,000		252,500
United Technologies Corp. 3.750%, 11/01/46		686,000		753,352
3.950%, 08/16/25		356,000		389,723
4.125%, 11/16/28		225,000		254,620
4.450%, 11/16/38		30,000		35,718
6.125%, 07/15/38		250,000		344,024
				6,363,316
Agriculture—0.3%
Altria Group, Inc. 3.875%, 09/16/46		442,000		406,783
4.800%, 02/14/29		558,000		611,918
BAT Capital Corp. 3.215%, 09/06/26		45,000		44,553
3.222%, 08/15/24		200,000		202,417
4.390%, 08/15/37		1,049,000		1,018,451
4.540%, 08/15/47		286,000		274,580

BHFTI-203

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Agriculture—(Continued)
Imperial Brands Finance plc 3.125%, 07/26/24 (144A)		1,021,000	$	1,023,170
3.500%, 07/26/26 (144A)		355,000		354,815
Philip Morris International, Inc. 2.125%, 05/10/23		1,031,000		1,028,278
3.375%, 08/15/29		172,000		180,400
3.875%, 08/21/42		334,000		342,557
				5,487,922
Airlines—0.3%
Air Canada Pass-Through Trust 3.300%, 01/15/30 (144A)		305,514		315,099
3.550%, 01/15/30 (144A)		664,160		677,131
3.750%, 12/15/27 (144A)		513,202		543,019
American Airlines Pass-Through Trust 3.000%, 10/15/28		147,104		149,819
3.150%, 02/15/32		315,000		323,023
3.200%, 06/15/28		350,800		359,956
3.375%, 05/01/27		112,389		116,121
3.600%, 09/22/27		166,847		174,939
3.700%, 10/01/26		451,152		473,169
British Airways Pass-Through Trust 3.300%, 12/15/32 (144A)		330,000		344,031
4.125%, 09/20/31 (144A)		573,681		603,972
Continental Airlines Pass-Through Trust 4.000%, 10/29/24		609,957		642,041
4.150%, 04/11/24		408,719		430,422
Delta Air Lines Pass-Through Trust 3.204%, 10/25/25		367,000		383,410
3.625%, 07/30/27		107,482		114,498
6.821%, 08/10/22		129,793		142,461
U.S. Airways Pass-Through Trust 5.900%, 10/01/24		154,897		172,431
United Airlines Pass-Through Trust 2.700%, 05/01/32		210,000		210,212
3.450%, 12/01/27		427,471		445,468
4.150%, 08/25/31		225,000		245,644
				6,866,866
Apparel—0.0%
William Carter Co. (The) 5.625%, 03/15/27 (144A)		230,000		246,100
Auto Manufacturers—0.2%
Allison Transmission, Inc. 4.750%, 10/01/27 (144A)		250,000		257,500
5.000%, 10/01/24 (144A)		200,000		204,375
Daimler Finance North America LLC 3.400%, 02/22/22 (144A)		610,000		624,057
Ford Motor Co. 4.750%, 01/15/43		180,000		155,971
Ford Motor Credit Co. LLC 4.687%, 06/09/25		500,000		510,086
General Motors Co. 5.000%, 04/01/35		674,000		676,534
Auto Manufacturers—(Continued)
General Motors Financial Co., Inc. 3.850%, 01/05/28		285,000		283,405
4.000%, 01/15/25		55,000		56,528
4.300%, 07/13/25		200,000		208,107
4.350%, 01/17/27		250,000		257,148
Volkswagen Group of America Finance LLC 4.250%, 11/13/23 (144A)		265,000		282,358
Wabash National Corp. 5.500%, 10/01/25 (144A)		250,000		245,625
				3,761,694
Auto Parts & Equipment—0.1%
Adient Global Holdings, Ltd. 4.875%, 08/15/26 (144A)		315,000		255,937
Adient US LLC 7.000%, 05/15/26 (144A)		145,000		151,525
American Axle & Manufacturing, Inc. 6.250%, 04/01/25 (b)		710,000		686,925
Cooper-Standard Automotive, Inc. 5.625%, 11/15/26 (144A)		300,000		273,375
Dana, Inc. 5.500%, 12/15/24		207,000		210,623
Delphi Technologies plc 5.000%, 10/01/25 (144A)		430,000		380,550
Panther BF Aggregator 2 L.P. / Panther Finance Co., Inc. 6.250%, 05/15/26 (144A)		223,000		234,707
				2,193,642
Banks—4.0%
ABN AMRO Bank NV 3.400%, 08/27/21 (144A)		895,000		913,662
AIB Group plc 4.750%, 10/12/23 (144A) (b)		250,000		264,396
ANZ New Zealand International, Ltd. 3.400%, 03/19/24 (144A)		405,000		422,971
ASB Bank, Ltd. 3.125%, 05/23/24 (144A)		200,000		206,225
Australia & New Zealand Banking Group, Ltd. 4.400%, 05/19/26 (144A)	295,000		316,004
6.750%, 5Y USD ICE Swap + 5.168%, 06/15/26 (144A) (c)		330,000		365,475
Banco Santander S.A. 2.706%, 06/27/24		600,000		606,652
Bank of America Corp. 2.503%, 10/21/22	2,538,000		2,556,704
3.093%, 3M LIBOR + 1.090%, 10/01/25 (c)		200,000		206,005
3.248%, 10/21/27		1,000,000		1,039,629
3.419%, 3M LIBOR + 1.040%, 12/20/28 (c)		465,000		485,189
3.550%, 3M LIBOR + 0.780%, 03/05/24 (c)		1,219,000		1,267,708
3.705%, 3M LIBOR + 1.512%, 04/24/28 (c)		1,017,000		1,083,149
3.824%, 3M LIBOR + 1.575%, 01/20/28 (c)		500,000		537,332
3.864%, 3M LIBOR + 0.940%, 07/23/24 (c)		1,049,000		1,104,805
3.974%, 3M LIBOR + 1.210%, 02/07/30 (c)		229,000		250,699
4.078%, 3M LIBOR + 1.320%, 04/23/40 (c)		110,000		122,733
4.244%, 3M LIBOR + 1.814%, 04/24/38 (c)		270,000		309,142

BHFTI-204

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Bank of America Corp.
4.330%, 3M LIBOR + 1.520%, 03/15/50 (c)		110,000	$	129,961
4.450%, 03/03/26		167,000		182,011
5.125%, 3M LIBOR + 3.292%, 06/20/24 (c)		307,000		318,129
5.875%, 3M LIBOR + 2.931%, 03/15/28 (c)		341,000		369,167
Bank of Montreal 2.350%, 09/11/22	150,000		151,715
3.300%, 02/05/24		200,000		208,139
3.803%, 5Y USD ICE Swap + 1.432%, 12/15/32 (c)		482,000		499,897
Bank of New York Mellon Corp. (The) 2.661%, 3M LIBOR + 0.634%, 05/16/23 (c)	859,000		870,682
3.650%, 02/04/24		300,000		318,443
Bank of Nova Scotia (The) 4.500%, 12/16/25		60,000		65,273
Barclays plc 4.338%, 3M LIBOR + 1.356%, 05/16/24 (c)		1,446,000		1,510,602
BB&T Corp. 3.750%, 12/06/23		200,000		211,647
BBVA USA 3.500%, 06/11/21		250,000		254,127
BNP Paribas S.A. 2.950%, 05/23/22 (144A)	200,000		203,162
4.705%, 3M LIBOR + 2.235%, 01/10/25 (144A) (c)		800,000		864,847
BPCE S.A. 2.700%, 10/01/29 (144A)	685,000		680,829
3.250%, 01/11/28 (144A)		350,000		365,540
4.000%, 09/12/23 (144A)		250,000		263,358
Canadian Imperial Bank of Commerce 3.100%, 04/02/24 (b)		150,000		154,599
Capital One Financial Corp. 4.250%, 04/30/25		150,000		162,344
Capital One N.A. 2.150%, 09/06/22		285,000		284,758
Citigroup, Inc. 2.876%, 3M LIBOR + 0.950%, 07/24/23 (c)	378,000		383,142
3.200%, 10/21/26		90,000		92,914
3.352%, 3M LIBOR + 0.897%, 04/24/25 (c)		337,000		349,497
3.520%, 3M LIBOR + 1.151%, 10/27/28 (c)		567,000		593,961
3.700%, 01/12/26		250,000		265,096
3.887%, 3M LIBOR + 1.563%, 01/10/28 (c)		1,540,000		1,648,008
3.980%, 3M LIBOR + 1.338%, 03/20/30 (b) (c)		200,000		218,039
4.044%, 3M LIBOR + 1.023%, 06/01/24 (c)		2,883,000		3,045,120
4.400%, 06/10/25		120,000		129,022
4.450%, 09/29/27		74,000		80,737
4.650%, 07/23/48		100,000		122,385
Citizens Bank N.A. 3.700%, 03/29/23		1,255,000		1,315,777
Citizens Financial Group, Inc. 2.375%, 07/28/21		150,000		150,379
Comerica, Inc. 4.000%, 02/01/29		90,000		99,065
Commonwealth Bank of Australia 2.850%, 05/18/26 (144A)	150,000		154,278
3.610%, 5Y H15 + 2.050%, 09/12/34 (144A) (c)		340,000		340,511
Banks—(Continued)
Cooperative Rabobank UA
3.750%, 07/21/26		655,000		679,610
3.875%, 09/26/23 (144A)		670,000		709,965
Credit Agricole S.A. 3.250%, 10/04/24 (144A)	845,000		869,912
3.875%, 04/15/24 (144A)		250,000		266,729
Credit Suisse AG 3.625%, 09/09/24		250,000		264,529
Credit Suisse Group AG 4.207%, 3M LIBOR + 1.240%, 06/12/24 (144A) (b) (c)	1,640,000		1,727,429
4.282%, 01/09/28 (144A)		380,000		408,617
Danske Bank A/S 2.800%, 03/10/21 (144A)	225,000		226,194
3.244%, 3M LIBOR + 1.591%, 12/20/25 (144A) (c)		210,000		211,712
5.000%, 01/12/22 (144A)		925,000		972,526
Fifth Third Bancorp 3.650%, 01/25/24		70,000		73,795
Fifth Third Bank
3.850%, 03/15/26		380,000		405,222
3.950%, 07/28/25		200,000		217,585
Goldman Sachs Group, Inc. (The) 2.350%, 11/15/21	2,356,000		2,358,422
2.905%, 3M LIBOR + 0.990%, 07/24/23 (c)		500,000		507,046
2.908%, 3M LIBOR + 1.053%, 06/05/23 (c)		150,000		151,973
3.272%, 3M LIBOR + 1.201%, 09/29/25 (c)		550,000		567,676
3.500%, 11/16/26		1,819,000		1,892,129
3.814%, 3M LIBOR + 1.158%, 04/23/29 (c)		350,000		371,060
3.850%, 01/26/27		1,624,000		1,722,570
4.017%, 3M LIBOR + 1.373%, 10/31/38 (c)		435,000		468,012
4.411%, 3M LIBOR + 1.430%, 04/23/39 (c)		140,000		157,986
4.800%, 07/08/44		105,000		125,712
HSBC Holdings plc 3.803%, 3M LIBOR + 1.211%, 03/11/25 (c)	1,132,000		1,179,275
3.950%, 3M LIBOR + 0.987%, 05/18/24 (c)		1,501,000		1,570,192
4.292%, 3M LIBOR + 1.348%, 09/12/26 (c)		250,000		268,369
4.300%, 03/08/26		410,000		443,981
5.100%, 04/05/21		220,000		229,349
Huntington Bancshares, Inc. 2.300%, 01/14/22		190,000		191,035
Huntington National Bank (The) 3.550%, 10/06/23		790,000		829,495
ING Groep NV 3.550%, 04/09/24		300,000		313,442
KeyCorp 4.150%, 10/29/25		90,000		98,499
Lloyds Banking Group plc 3.574%, 3M LIBOR + 1.205%, 11/07/28 (c)	505,000		515,202
4.375%, 03/22/28		283,000		307,367
Macquarie Bank, Ltd. 4.000%, 07/29/25 (144A)		200,000		214,472
Macquarie Group, Ltd. 3.763%, 3M LIBOR + 1.372%, 11/28/28 (144A) (c)	791,000		826,018
6.000%, 01/14/20 (144A)		250,000		252,633
6.250%, 01/14/21 (144A)		150,000		157,313

BHFTI-205

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Mitsubishi UFJ Financial Group, Inc.
2.998%, 02/22/22		100,000	$	101,742
3.407%, 03/07/24		250,000		260,126
3.751%, 07/18/39		250,000		269,333
3.761%, 07/26/23		620,000		651,137
Mizuho Financial Group, Inc. 2.555%, 3M LIBOR + 1.100%, 09/13/25 (c)	250,000		249,342
2.869%, 3M LIBOR + 1.310%, 09/13/30 (c)		200,000		199,296
Morgan Stanley 3.125%, 01/23/23	300,000		307,744
3.591%, 3M LIBOR + 1.340%, 07/22/28 (c)		1,524,000		1,607,473
3.737%, 3M LIBOR + 0.847%, 04/24/24 (c)		3,269,000		3,413,853
3.875%, 01/27/26		150,000		160,938
3.971%, 3M LIBOR + 1.455%, 07/22/38 (c)		382,000		419,452
4.300%, 01/27/45		70,000		81,060
4.431%, 3M LIBOR + 1.628%, 01/23/30 (c)		123,000		138,209
5.500%, 01/26/20		100,000		101,075
6.250%, 08/09/26		525,000		636,177
MUFG Union Bank N.A. 3.150%, 04/01/22		535,000		548,186
National Australia Bank, Ltd. 3.375%, 01/14/26	500,000		530,009
3.933%, 5Y H15 + 1.880%, 08/02/34 (144A) (c)		820,000		841,777
NatWest Markets plc
3.625%, 09/29/22 (144A) (b)		410,000		420,928
Nordea Bank Abp 4.250%, 09/21/22 (144A)		200,000		209,076
Northern Trust Corp. 3.375%, 3M LIBOR + 1.131%, 05/08/32 (c)		196,000		201,190
PNC Bank N.A. 3.100%, 10/25/27		250,000		263,290
Regions Bank 3.374%, 3M LIBOR + 0.500%, 08/13/21 (c)		1,750,000		1,765,270
Regions Financial Corp. 3.800%, 08/14/23		45,000		47,471
Royal Bank of Canada 3.700%, 10/05/23		120,000		126,955
Royal Bank of Scotland Group plc 4.269%, 3M LIBOR + 1.762%, 03/22/25 (c)	530,000		554,301
4.519%, 3M LIBOR + 1.550%, 06/25/24 (c)		1,480,000		1,556,550
4.892%, 3M LIBOR + 1.754%, 05/18/29 (c)		200,000		220,045
Santander UK Group Holdings plc 3.373%, 3M LIBOR + 1.080%, 01/05/24 (c)		535,000		543,463
Skandinaviska Enskilda Banken AB 3.050%, 03/25/22 (144A)		200,000		203,939
Societe Generale S.A. 3.875%, 03/28/24 (144A)	555,000		582,310
4.250%, 04/14/25 (144A)		350,000		365,520
Standard Chartered plc 2.744%, 3M LIBOR + 1.200%, 09/10/22 (144A) (c)	310,000		310,319
4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (c)		250,000		258,475
4.305%, 3M LIBOR + 1.910%, 05/21/30 (144A) (c)		200,000		214,986
State Street Corp. 2.653%, 3M LIBOR + 0.635%, 05/15/23 (c)	362,000		367,900
3.550%, 08/18/25		115,000		123,200
3.776%, 3M LIBOR + 0.770%, 12/03/24 (c)		50,000		52,911
Banks—(Continued)
Sumitomo Mitsui Financial Group, Inc.
2.778%, 10/18/22		350,000		355,273
2.784%, 07/12/22		230,000		233,424
3.040%, 07/16/29 (b)		305,000		311,922
SunTrust Banks, Inc. 3.300%, 05/15/26	200,000		207,561
3.502%, 3M LIBOR + 0.585%, 08/02/22 (c)		658,000		672,530
3.689%, 3M LIBOR + 0.735%, 08/02/24 (c)		499,000		523,152
4.000%, 05/01/25		106,000		114,588
Svenska Handelsbanken AB 3.900%, 11/20/23		250,000		267,173
Swedbank AB 2.800%, 03/14/22 (144A)		300,000		302,532
Toronto-Dominion Bank (The) 2.650%, 06/12/24	120,000		122,390
3.250%, 03/11/24		100,000		104,593
UBS Group AG 3.126%, 3M LIBOR + 1.468%, 08/13/30 (144A) (c)		295,000		297,091
UBS Group Funding Switzerland AG 3.491%, 05/23/23 (144A)	540,000		554,347
4.125%, 09/24/25 (144A)		400,000		432,203
US Bancorp 2.375%, 07/22/26	200,000		201,923
3.950%, 11/17/25		250,000		274,920
Wells Fargo & Co. 3.000%, 04/22/26	800,000		820,448
3.069%, 01/24/23		2,257,000		2,299,138
3.196%, 3M LIBOR + 1.170%, 06/17/27 (c)		690,000		712,936
3.750%, 01/24/24		203,000		214,987
4.400%, 06/14/46		115,000		129,216
4.650%, 11/04/44		449,000		519,149
4.750%, 12/07/46		125,000		147,983
5.900%, 3M LIBOR + 3.110%, 06/15/24 (c)		277,000		297,342
Westpac Banking Corp. 2.850%, 05/13/26 (b)		150,000		155,319
4.110%, 5Y H15 + 2.000%, 07/24/34 (c)		258,000		268,995
4.322%, 5Y USD ICE Swap + 2.236%, 11/23/31 (c)		508,000		537,127
4.421%, 07/24/39		90,000		98,905
				81,950,889
Beverages—0.2%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 4.700%, 02/01/36		810,000		936,799
Anheuser-Busch InBev Finance, Inc. 4.700%, 02/01/36		90,000		104,089
Anheuser-Busch InBev Worldwide, Inc. 4.150%, 01/23/25		146,000		159,511
4.375%, 04/15/38		967,000		1,082,847
4.439%, 10/06/48		1,034,000		1,167,520
4.600%, 04/15/48		263,000		303,172
Constellation Brands, Inc. 4.400%, 11/15/25		35,000		38,701
5.250%, 11/15/48		25,000		31,321

BHFTI-206

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Beverages—(Continued)
Keurig Dr Pepper, Inc. 2.550%, 09/15/26		999,000	$	990,847
3.130%, 12/15/23		55,000		56,738
3.430%, 06/15/27		75,000		77,642
				4,949,187
Biotechnology—0.1%
Baxalta, Inc. 3.600%, 06/23/22		33,000		33,872
Celgene Corp. 3.450%, 11/15/27		920,000		976,589
3.875%, 08/15/25		329,000		355,167
3.900%, 02/20/28		145,000		159,280
4.550%, 02/20/48		250,000		298,273
Gilead Sciences, Inc. 4.000%, 09/01/36		137,000		153,309
4.150%, 03/01/47		353,000		393,558
4.600%, 09/01/35		80,000		94,892
				2,464,940
Building Materials—0.1%
American Woodmark Corp. 4.875%, 03/15/26 (144A)		245,000		246,837
JELD-WEN, Inc. 4.875%, 12/15/27 (144A)		250,000		247,500
Martin Marietta Materials, Inc. 3.450%, 06/01/27		100,000		101,819
Masco Corp. 6.500%, 08/15/32		150,000		183,960
Standard Industries, Inc. 4.750%, 01/15/28 (144A)		345,000		356,613
				1,136,729
Chemicals—0.2%
Celanese US Holdings LLC 3.500%, 05/08/24		318,000		329,733
Chemours Co. (The) 7.000%, 05/15/25 (b)		250,000		236,675
Dow Chemical Co. (The)
3.000%, 11/15/22		82,000		83,550
4.125%, 11/15/21		27,000		27,981
DuPont de Nemours, Inc.
4.493%, 11/15/25		120,000		132,554
5.319%, 11/15/38		60,000		73,246
Eastman Chemical Co. 4.500%, 12/01/28		150,000		165,595
GCP Applied Technologies, Inc. 5.500%, 04/15/26 (144A)		285,000		290,700
Hexion, Inc. 7.875%, 07/15/27 (144A)		95,000		93,813
INEOS Group Holdings S.A. 5.625%, 08/01/24 (144A) (b)		500,000		514,940
International Flavors & Fragrances, Inc. 4.450%, 09/26/28		36,000		39,773
Chemicals—(Continued)
Mosaic Co. (The)
4.050%, 11/15/27		742,000		771,020
5.625%, 11/15/43		100,000		110,918
Nutrien, Ltd.
3.000%, 04/01/25		478,000		485,800
4.200%, 04/01/29		50,000		55,056
5.000%, 04/01/49		75,000		87,446
Sherwin-Williams Co. (The) 3.125%, 06/01/24		103,000		106,402
Starfruit Finco B.V. / Starfruit U.S. Holdco LLC 8.000%, 10/01/26 (144A) (b)		200,000		199,500
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc. 5.375%, 09/01/25 (144A)		250,000		242,813
				4,047,515
Commercial Services—0.2%
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. 5.250%, 03/15/25 (144A) (b)		531,000		545,603
Global Payments, Inc.
2.650%, 02/15/25		440,000		441,871
3.200%, 08/15/29		265,000		268,412
4.150%, 08/15/49		125,000		131,068
Herc Holdings, Inc. 5.500%, 07/15/27 (144A)		335,000		348,400
Hertz Corp. (The) 7.125%, 08/01/26 (144A)		750,000		782,812
Live Nation Entertainment, Inc. 5.625%, 03/15/26 (144A)		275,000		292,531
Service Corp. International 4.625%, 12/15/27		300,000		312,000
United Rentals North America, Inc.
6.500%, 12/15/26 (b)		1,000,000		1,089,500
Western Union Co. (The) 3.600%, 03/15/22		150,000		154,030
				4,366,227
Computers—0.3%
Apple, Inc.
2.850%, 05/11/24		146,000		151,488
3.000%, 02/09/24		100,000		104,110
3.450%, 02/09/45		1,072,000		1,140,810
3.750%, 11/13/47		161,000		180,241
3.850%, 05/04/43		200,000		224,391
Dell International LLC / EMC Corp.
4.900%, 10/01/26 (144A)		390,000		417,795
5.300%, 10/01/29 (144A)		290,000		315,546
6.020%, 06/15/26 (144A)		339,000		382,286
DXC Technology Co. 4.250%, 04/15/24		60,000		62,935
International Business Machines Corp.
2.800%, 05/13/21		565,000		572,547
2.850%, 05/13/22		800,000		817,560
3.000%, 05/15/24		460,000		476,002

BHFTI-207

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—(Continued)
International Business Machines Corp.
3.300%, 05/15/26		880,000	$	928,678
3.500%, 05/15/29		450,000		483,144
				6,257,533
Distribution/Wholesale—0.0%
Performance Food Group, Inc. 5.500%, 10/15/27 (144A)		90,000		94,500
Diversified Financial Services—0.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.500%, 01/15/25		150,000		153,092
4.450%, 04/03/26		150,000		160,296
Air Lease Corp.
3.000%, 09/15/23		60,000		60,928
3.250%, 03/01/25		614,000		624,537
3.250%, 10/01/29		285,000		280,377
3.625%, 04/01/27		95,000		98,160
3.625%, 12/01/27		119,000		122,712
Aircastle, Ltd. 4.400%, 09/25/23		35,000		36,789
American Express Co.
3.400%, 02/27/23		667,000		692,636
3.700%, 11/05/21		200,000		206,497
3.700%, 08/03/23		251,000		264,467
4.200%, 11/06/25		150,000		164,931
Avolon Holdings Funding, Ltd.
3.950%, 07/01/24 (144A)		157,000		161,035
4.375%, 05/01/26 (144A)		291,000		300,865
BOC Aviation, Ltd.
2.375%, 09/15/21 (144A)		200,000		198,241
2.750%, 09/18/22 (144A)		220,000		219,955
Brookfield Finance, Inc. 4.850%, 03/29/29		300,000		339,601
Capital One Bank USA N.A. 3.375%, 02/15/23		915,000		942,961
Capital One Financial Corp. 3.900%, 01/29/24		190,000		200,755
Charles Schwab Corp. (The) 3.550%, 02/01/24		160,000		169,179
GE Capital International Funding Co.
2.342%, 11/15/20		550,000		548,661
3.373%, 11/15/25		805,000		821,360
4.418%, 11/15/35		1,712,000		1,795,736
GTP Acquisition Partners I LLC 3.482%, 06/15/50 (144A)		325,000		337,563
Mitsubishi UFJ Lease & Finance Co., Ltd. 3.406%, 02/28/22 (144A)		935,000		953,364
3.559%, 02/28/24 (144A)		200,000		207,847
Nuveen LLC 4.000%, 11/01/28 (144A)		100,000		111,705
ORIX Corp. 2.900%, 07/18/22		80,000		81,349
Diversified Financial Services—(Continued)
Park Aerospace Holdings, Ltd. 4.500%, 03/15/23 (144A)		110,000		113,828
5.500%, 02/15/24 (144A)		165,000		178,266
Springleaf Finance Corp. 6.625%, 01/15/28		322,000		346,247
TD Ameritrade Holding Corp. 3.750%, 04/01/24		150,000		159,595
				11,053,535
Electric—1.2%
AEP Texas, Inc. 3.950%, 06/01/28		311,000		343,397
AEP Transmission Co. LLC 3.150%, 09/15/49		30,000		29,475
AES Corp. 5.500%, 04/15/25		100,000		103,875
Ameren Corp. 2.500%, 09/15/24		95,000		95,482
Ameren Illinois Co. 4.500%, 03/15/49		225,000		276,806
Appalachian Power Co. 4.500%, 03/01/49		35,000		41,932
Arizona Public Service Co. 4.700%, 01/15/44		50,000		59,879
Ausgrid Finance Pty, Ltd. 3.850%, 05/01/23 (144A)		150,000		156,346
Baltimore Gas & Electric Co. 2.800%, 08/15/22		70,000		71,186
3.200%, 09/15/49		210,000		207,109
Cleveland Electric Illuminating Co. (The) 4.550%, 11/15/30 (144A)		157,000		178,703
CMS Energy Corp. 3.875%, 03/01/24		70,000		73,786
Commonwealth Edison Co. 3.650%, 06/15/46		483,000		522,105
3.700%, 03/01/45		128,000		138,143
Connecticut Light & Power Co. (The) 4.000%, 04/01/48		143,000		165,177
Consolidated Edison Co. of New York, Inc. 3.850%, 06/15/46		215,000		234,133
4.650%, 12/01/48		150,000		185,672
Consumers Energy Co. 4.350%, 04/15/49		100,000		122,782
Dominion Energy, Inc. 2.715%, 08/15/21 (d)		410,000		412,677
2.850%, 08/15/26		987,000		995,742
Duke Energy Carolinas LLC 3.200%, 08/15/49		170,000		170,769
3.950%, 11/15/28		350,000		390,722
6.000%, 12/01/28		100,000		125,351
Duke Energy Corp. 3.400%, 06/15/29		55,000		57,775
Duke Energy Indiana LLC 3.250%, 10/01/49		140,000		139,578
3.750%, 05/15/46		640,000		688,043

BHFTI-208

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Duke Energy Progress LLC 3.700%, 10/15/46		250,000	$	268,771
Duquesne Light Holdings, Inc. 3.616%, 08/01/27 (144A)		754,000		769,546
Edison International 5.750%, 06/15/27		100,000		112,391
EDP Finance B.V. 5.250%, 01/14/21 (144A)		425,000		438,858
Electricite de France S.A. 4.500%, 09/21/28 (144A)		475,000		530,137
Emera U.S. Finance L.P. 4.750%, 06/15/46		283,000		327,752
Enel Finance International NV 3.500%, 04/06/28 (144A)		205,000		209,959
3.625%, 05/25/27 (144A)		220,000		228,329
Entergy Louisiana LLC 2.400%, 10/01/26		483,000		482,625
4.200%, 04/01/50		300,000		352,919
Entergy Mississippi LLC 2.850%, 06/01/28		184,000		188,820
3.850%, 06/01/49		120,000		133,659
Entergy Texas, Inc. 3.550%, 09/30/49		515,000		535,584
4.000%, 03/30/29		303,000		335,139
Evergy, Inc. 2.900%, 09/15/29		605,000		600,327
Exelon Corp. 3.497%, 06/01/22		139,000		142,636
Fortis, Inc. 3.055%, 10/04/26		353,000		358,777
ITC Holdings Corp. 3.250%, 06/30/26		640,000		664,518
Jersey Central Power & Light Co. 4.300%, 01/15/26 (144A)		506,000		554,005
6.150%, 06/01/37		100,000		130,002
Louisville Gas & Electric Co. 4.650%, 11/15/43		197,000		240,699
Metropolitan Edison Co. 4.000%, 04/15/25 (144A)		20,000		21,252
MidAmerican Energy Co. 4.250%, 07/15/49		285,000		343,271
National Rural Utilities Cooperative Finance Corp.
2.850%, 01/27/25		824,000		849,122
2.950%, 02/07/24		87,000		89,993
3.900%, 11/01/28		100,000		111,421
4.300%, 03/15/49		119,000		142,904
Nevada Power Co. 3.700%, 05/01/29		190,000		208,357
New York State Electric & Gas Corp. 3.250%, 12/01/26 (144A)		213,000		221,451
NextEra Energy Capital Holdings, Inc. 3.150%, 04/01/24		599,000		618,790
3.500%, 04/01/29		134,000		141,920
Niagara Mohawk Power Corp. 4.278%, 12/15/28 (144A)		200,000		226,363
Electric—(Continued)
NRG Energy, Inc.
4.450%, 06/15/29 (144A)		305,000		317,843
6.625%, 01/15/27		22,000		23,834
7.250%, 05/15/26		250,000		273,812
Ohio Power Co. 4.000%, 06/01/49		135,000		153,638
PacifiCorp 4.125%, 01/15/49		285,000		330,653
Pennsylvania Electric Co. 3.600%, 06/01/29 (144A)		500,000		530,957
Potomac Electric Power Co. 3.600%, 03/15/24		1,064,000		1,124,611
PPL Electric Utilities Corp. 3.000%, 10/01/49		70,000		67,656
Public Service Co. of Colorado 3.200%, 03/01/50		150,000		152,547
Public Service Co. of Oklahoma 6.625%, 11/15/37		100,000		139,537
San Diego Gas & Electric Co.
4.100%, 06/15/49		385,000		435,037
4.300%, 04/01/42		160,000		177,892
Sierra Pacific Power Co. 2.600%, 05/01/26		1,481,000		1,504,864
Southern California Edison Co.
3.600%, 02/01/45		256,000		259,661
3.650%, 03/01/28		324,000		346,757
3.700%, 08/01/25		410,000		433,774
4.050%, 03/15/42		150,000		159,586
Southern Co. (The) 4.400%, 07/01/46		245,000		273,624
Southwestern Electric Power Co. 3.900%, 04/01/45		232,000		245,068
Southwestern Public Service Co.
3.700%, 08/15/47		244,000		265,349
4.400%, 11/15/48		225,000		269,192
Tampa Electric Co. 3.625%, 06/15/50		120,000		127,790
Toledo Edison Co. (The) 7.250%, 05/01/20		15,000		15,377
Tucson Electric Power Co.
3.050%, 03/15/25		50,000		51,001
4.850%, 12/01/48		150,000		189,602
Union Electric Co.
2.950%, 06/15/27		161,000		167,010
3.500%, 03/15/29		176,000		191,317
Virginia Electric & Power Co. 3.800%, 04/01/28		300,000		328,936
Westar Energy, Inc. 3.250%, 09/01/49		205,000		205,974
				25,329,841
Electrical Components & Equipment—0.0%
Energizer Holdings, Inc. 7.750%, 01/15/27 (144A)		520,000		579,384

BHFTI-209

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electronics—0.0%
Arrow Electronics, Inc. 3.875%, 01/12/28		123,000	$	126,114
Entertainment—0.0%
Six Flags Entertainment Corp. 4.875%, 07/31/24 (144A)		240,000		248,400
Walt Disney Co. (The) 2.000%, 09/01/29		325,000		316,491
				564,891
Environmental Control—0.0%
Waste Management, Inc.
2.950%, 06/15/24		377,000		389,822
3.200%, 06/15/26		209,000		220,495
3.450%, 06/15/29		65,000		70,106
				680,423
Food—0.2%
Albertsons Cos., Inc / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC 5.750%, 03/15/25		235,000		242,050
Campbell Soup Co. 3.950%, 03/15/25		115,000		121,925
Conagra Brands, Inc.
4.600%, 11/01/25		20,000		21,997
5.300%, 11/01/38		40,000		46,591
Kraft Heinz Foods Co.
4.375%, 06/01/46		601,000		570,572
5.000%, 07/15/35		295,000		314,700
Kroger Co. (The) 3.875%, 10/15/46		598,000		570,862
McCormick & Co., Inc.
3.150%, 08/15/24		60,000		62,177
3.400%, 08/15/27		70,000		73,392
Post Holdings, Inc. 5.500%, 03/01/25 (144A)		480,000		502,800
Smithfield Foods, Inc. 5.200%, 04/01/29 (144A)		150,000		165,371
Sysco Corp. 3.750%, 10/01/25		83,000		89,110
Tyson Foods, Inc. 4.550%, 06/02/47		300,000		336,659
				3,118,206
Food Service—0.0%
Aramark Services, Inc. 5.000%, 02/01/28 (144A)		290,000		300,875
Forest Products & Paper—0.0%
International Paper Co. 4.350%, 08/15/48		198,000		205,502
Gas—0.1%
Atmos Energy Corp.
2.625%, 09/15/29		220,000		222,545
4.125%, 03/15/49		145,000		167,950
Boston Gas Co. 3.001%, 08/01/29 (144A)		120,000		123,632
Brooklyn Union Gas Co. (The) 3.865%, 03/04/29 (144A)		170,000		187,255
KeySpan Gas East Corp. 2.742%, 08/15/26 (144A)		258,000		260,868
NiSource, Inc.
2.950%, 09/01/29		305,000		306,730
6.250%, 12/15/40		75,000		98,935
ONE Gas, Inc. 4.500%, 11/01/48		142,000		173,598
Piedmont Natural Gas Co., Inc. 3.500%, 06/01/29		422,000		450,956
Southern California Gas Co. 4.300%, 01/15/49		180,000		213,773
				2,206,242
Healthcare-Products—0.3%
Abbott Laboratories
2.950%, 03/15/25		164,000		170,213
4.900%, 11/30/46		401,000		517,372
Alcon Finance Corp.
2.750%, 09/23/26 (144A)		200,000		201,636
3.000%, 09/23/29 (144A)		620,000		627,572
Becton Dickinson & Co. 3.363%, 06/06/24		1,234,000		1,287,213
Boston Scientific Corp.
3.750%, 03/01/26		400,000		427,680
4.000%, 03/01/29		170,000		187,946
4.550%, 03/01/39		248,000		292,800
4.700%, 03/01/49		153,000		187,345
Covidien International Finance S.A. 2.950%, 06/15/23		169,000		174,540
Medtronic, Inc. 4.375%, 03/15/35		233,000		280,534
Thermo Fisher Scientific, Inc.
2.950%, 09/19/26		283,000		291,547
3.650%, 12/15/25		285,000		305,758
Zimmer Biomet Holdings, Inc. 3.700%, 03/19/23		26,000		27,092
				4,979,248
Healthcare-Services—0.4%
Aetna, Inc.
2.750%, 11/15/22		363,000		367,264
3.875%, 08/15/47		326,000		317,416
Anthem, Inc.
2.375%, 01/15/25		180,000		178,933
3.350%, 12/01/24		175,000		181,981
3.650%, 12/01/27		645,000		678,781
4.101%, 03/01/28		140,000		151,241

BHFTI-210

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
BCPE Cycle Merger Sub II, Inc.
10.625%, 07/15/27 (144A)		100,000	$	96,500
CHS/Community Health Systems Inc. 8.625%, 01/15/24 (144A)		200,000		206,500
DaVita, Inc. 5.000%, 05/01/25		502,000		500,117
Encompass Health Corp.
4.500%, 02/01/28 (b)		80,000		80,880
5.750%, 11/01/24		400,000		404,180
5.750%, 09/15/25		100,000		104,335
Envision Healthcare Corp. 8.750%, 10/15/26 (144A) (b)		250,000		152,500
HCA, Inc.
4.500%, 02/15/27		378,000		405,358
5.125%, 06/15/39		110,000		120,299
5.250%, 04/15/25		350,000		389,329
5.250%, 06/15/26		150,000		167,055
5.250%, 06/15/49		217,000		238,259
5.375%, 09/01/26 (b)		1,500,000		1,648,050
Tenet Healthcare Corp.
4.625%, 07/15/24		20,000		20,555
4.875%, 01/01/26 (144A)		490,000		502,862
5.125%, 11/01/27 (144A)		210,000		217,004
6.750%, 06/15/23		750,000		787,635
7.000%, 08/01/25		90,000		91,463
UnitedHealth Group, Inc.
3.100%, 03/15/26		674,000		703,223
3.500%, 08/15/39		238,000		247,897
3.700%, 08/15/49		143,000		151,602
				9,111,219
Home Furnishings—0.0%
Tempur Sealy International, Inc. 5.625%, 10/15/23		250,000		257,187
Household Products/Wares—0.1%
ACCO Brands Corp. 5.250%, 12/15/24 (144A)		350,000		362,250
Central Garden & Pet Co. 5.125%, 02/01/28 (b)		300,000		306,000
Prestige Brands, Inc. 6.375%, 03/01/24 (144A)		240,000		249,600
Reckitt Benckiser Treasury Services plc
2.375%, 06/24/22 (144A)		512,000		515,174
3.000%, 06/26/27 (144A)		200,000		205,609
Spectrum Brands, Inc.
5.000%, 10/01/29 (144A)		25,000		25,438
5.750%, 07/15/25		400,000		417,396
				2,081,467
Insurance—0.5%
Aflac, Inc. 4.750%, 01/15/49		335,000		408,528
AIA Group, Ltd. 3.900%, 04/06/28 (144A)		210,000		228,171
Insurance—(Continued)
American Financial Group, Inc. 3.500%, 08/15/26		70,000		71,909
American International Group, Inc. 3.875%, 01/15/35		798,000		838,008
Assurant, Inc.
4.200%, 09/27/23		150,000		156,909
Athene Global Funding
2.750%, 04/20/20 (144A)		180,000		180,626
4.000%, 01/25/22 (144A)		90,000		93,404
Athene Holding, Ltd. 4.125%, 01/12/28		42,000		43,191
Berkshire Hathaway Finance Corp.
4.200%, 08/15/48		266,000		311,703
4.250%, 01/15/49		210,000		248,934
4.400%, 05/15/42		200,000		238,706
Chubb INA Holdings, Inc. 3.150%, 03/15/25		110,000		115,486
Globe Life, Inc. 4.550%, 09/15/28		30,000		33,565
Great-West Lifeco Finance Delaware L.P. 4.150%, 06/03/47 (144A)		40,000		44,625
Guardian Life Global Funding 2.500%, 05/08/22 (144A)		228,000		230,109
Harborwalk Funding Trust 5.077%, 3M LIBOR + 3.191%, 02/15/69 (144A) (c)		505,000		609,181
Hartford Financial Services Group, Inc. (The)
4.300%, 04/15/43		25,000		27,772
6.100%, 10/01/41		25,000		34,047
Jackson National Life Global Funding
3.250%, 01/30/24 (144A)		90,000		93,599
3.875%, 06/11/25 (144A)		577,000		620,675
Lincoln National Corp.
3.050%, 01/15/30		100,000		99,648
3.800%, 03/01/28 (b)		633,000		669,423
Manulife Financial Corp. 4.061%, 5Y USD ICE Swap + 1.647%, 02/24/32 (c)		378,000		393,644
Markel Corp. 3.500%, 11/01/27		100,000		102,254
Massachusetts Mutual Life Insurance Co. 8.875%, 06/01/39 (144A)		60,000		102,163
New York Life Global Funding 3.000%, 01/10/28 (144A)		309,000		322,861
New York Life Insurance Co. 4.450%, 05/15/69 (144A)		75,000		88,181
OneBeacon U.S. Holdings, Inc. 4.600%, 11/09/22		150,000		155,347
Pacific Life Insurance Co. 4.300%, 3M LIBOR + 2.796%, 10/24/67 (144A) (c)		97,000		102,619
Principal Financial Group, Inc. 3.700%, 05/15/29		75,000		80,839
Progressive Corp. (The) 5.375%, 3M LIBOR + 2.539%, 03/15/23 (c)		90,000		92,925
Prudential Financial, Inc. 3.905%, 12/07/47		595,000		639,255
Prudential Insurance Co. of America (The) 8.300%, 07/01/25 (144A)		250,000		323,329

BHFTI-211

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Reliance Standard Life Global Funding II
2.625%, 07/22/22 (144A)		605,000	$	610,076
3.850%, 09/19/23 (144A)		905,000		951,044
Swiss Re Finance Luxembourg S.A. 5.000%, 5Y H15 + 3.582%, 04/02/49 (144A) (c)		400,000		441,500
Teachers Insurance & Annuity Association of America 4.270%, 05/15/47 (144A)		100,000		113,488
Voya Financial, Inc. 3.650%, 06/15/26		180,000		189,520
				10,107,264
Internet—0.1%
Amazon.com, Inc. 3.150%, 08/22/27		588,000		624,924
Booking Holdings, Inc. 2.750%, 03/15/23		71,000		72,717
Netflix, Inc. 5.875%, 11/15/28		530,000		575,739
Zayo Group LLC / Zayo Capital, Inc. 6.375%, 05/15/25		315,000		324,387
				1,597,767
Leisure Time—0.0%
Sabre GLBL, Inc. 5.250%, 11/15/23 (144A)		400,000		411,000
Lodging—0.2%
Boyd Gaming Corp. 6.375%, 04/01/26		275,000		291,500
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. 4.625%, 04/01/25		500,000		515,000
Marriott Ownership Resorts, Inc. / ILG LLC 6.500%, 09/15/26		250,000		269,375
MGM Resorts International 5.500%, 04/15/27		2,000,000		2,191,700
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. 5.500%, 03/01/25 (144A)		500,000		525,000
				3,792,575
Machinery-Construction & Mining—0.0%
Caterpillar Financial Services Corp. 3.650%, 12/07/23		70,000		74,296
Terex Corp. 5.625%, 02/01/25 (144A)		300,000		307,875
				382,171
Machinery-Diversified—0.1%
John Deere Capital Corp.
2.250%, 09/14/26		130,000		129,823
3.450%, 01/10/24		35,000		36,878
RBS Global, Inc. / Rexnord LLC 4.875%, 12/15/25 (144A)		240,000		246,576
Machinery-Diversified—(Continued)
Roper Technologies, Inc.
2.950%, 09/15/29		500,000		501,340
3.000%, 12/15/20		83,000		83,731
Stevens Holding Co., Inc. 6.125%, 10/01/26 (144A)		200,000		212,750
Welbilt, Inc. 9.500%, 02/15/24		250,000		267,500
				1,478,598
Media—0.9%
Altice Luxembourg S.A.
10.500%, 05/15/27 (144A)		350,000		394,450
CBS Corp. 3.375%, 02/15/28		353,000		361,470
CCO Holdings LLC / CCO Holdings Capital Corp.
5.125%, 05/01/27 (144A)		1,000,000		1,043,750
5.875%, 04/01/24 (144A)		1,000,000		1,043,460
5.875%, 05/01/27 (144A)		1,000,000		1,057,500
Charter Communications Operating LLC / Charter Communications Operating Capital Corp.
3.750%, 02/15/28		206,000		211,401
5.375%, 05/01/47		452,000		491,863
Clear Channel Worldwide Holdings, Inc.
5.125%, 08/15/27 (144A)		100,000		104,185
9.250%, 02/15/24 (144A)		455,000		499,890
Comcast Corp.
2.350%, 01/15/27		1,417,000		1,410,396
3.150%, 03/01/26		596,000		624,254
3.200%, 07/15/36		1,027,000		1,053,284
3.400%, 07/15/46		397,000		407,159
3.900%, 03/01/38		465,000		514,763
3.950%, 10/15/25		279,000		303,775
4.600%, 10/15/38		50,000		59,913
4.950%, 10/15/58		55,000		70,563
6.500%, 11/15/35		90,000		126,075
7.050%, 03/15/33		187,000		269,580
COX Communications, Inc. 4.600%, 08/15/47 (144A)		175,000		192,179
CSC Holdings LLC
6.500%, 02/01/29 (144A)		360,000		400,131
10.875%, 10/15/25 (144A)		300,000		339,735
Discovery Communications LLC 5.300%, 05/15/49		84,000		93,077
DISH DBS Corp.
5.875%, 11/15/24		780,000		773,175
7.750%, 07/01/26 (b)		1,000,000		1,019,000
Entercom Media Corp. 6.500%, 05/01/27 (144A)		190,000		198,550
Fox Corp.
4.030%, 01/25/24 (144A)		148,000		157,450
4.709%, 01/25/29 (144A)		45,000		51,365
GCI LLC 6.875%, 04/15/25		200,000		210,500
Nexstar Escrow, Inc. 5.625%, 07/15/27 (144A)		235,000		246,163

BHFTI-212

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Sinclair Television Group, Inc.
5.125%, 02/15/27 (144A)		250,000	$	251,250
5.625%, 08/01/24 (144A)		250,000		257,188
Sirius XM Radio, Inc. 5.375%, 07/15/26 (144A)		731,000		767,448
Time Warner Cable LLC
4.500%, 09/15/42		667,000		655,923
6.550%, 05/01/37		50,000		60,052
6.750%, 06/15/39		265,000		323,288
UPCB Finance IV, Ltd. 5.375%, 01/15/25 (144A)		290,000		297,975
Viacom, Inc. 4.375%, 03/15/43		213,000		219,476
Videotron, Ltd. 5.125%, 04/15/27 (144A)		465,000		491,737
Virgin Media Secured Finance plc 5.250%, 01/15/26 (144A)		200,000		205,500
				17,258,893
Metal Fabricate/Hardware—0.0%
Novelis Corp. 6.250%, 08/15/24 (144A)		240,000		250,800
Precision Castparts Corp. 4.200%, 06/15/35		60,000		66,927
				317,727
Mining—0.1%
Alcoa Nederland Holding B.V. 7.000%, 09/30/26 (144A)		250,000		271,258
Freeport-McMoRan, Inc. 4.550%, 11/14/24		600,000		614,880
Glencore Funding LLC
4.000%, 03/27/27 (144A)		205,000		210,755
4.875%, 03/12/29 (144A)		322,000		348,026
Newmont Goldcorp Corp. 2.800%, 10/01/29		80,000		78,957
				1,523,876
Miscellaneous Manufacturing—0.2%
Eaton Corp. 5.800%, 03/15/37		100,000		123,548
Gates Global LLC / Gates Global Co. 6.000%, 07/15/22 (144A)		350,000		348,687
General Electric Co.
2.700%, 10/09/22		375,000		375,971
3.100%, 01/09/23		236,000		239,138
4.125%, 10/09/42		73,000		73,689
4.375%, 09/16/20		250,000		254,316
5.550%, 01/05/26		633,000		715,967
Parker-Hannifin Corp. 3.300%, 11/21/24		114,000		119,122
Siemens Financieringsmaatschappij NV
3.125%, 03/16/24 (144A)		250,000		260,855
3.250%, 05/27/25 (144A)		550,000		578,033
Miscellaneous Manufacturing—(Continued)
Textron, Inc. 3.900%, 09/17/29		416,000		446,070
				3,535,396
Oil & Gas—0.6%
Antero Resources Corp. 5.625%, 06/01/23 (b)		250,000		216,250
Apache Corp.
4.375%, 10/15/28 (b)		255,000		261,539
5.100%, 09/01/40		100,000		99,710
BP Capital Markets America, Inc.
2.750%, 05/10/23		100,000		102,152
3.017%, 01/16/27		881,000		911,036
3.224%, 04/14/24		300,000		312,454
3.410%, 02/11/26		120,000		126,871
3.796%, 09/21/25		100,000		108,056
Brazos Valley Longhorn LLC / Brazos Valley Longhorn Finance Corp. 6.875%, 02/01/25		150,000		129,000
Canadian Natural Resources, Ltd.
3.850%, 06/01/27		635,000		669,882
3.900%, 02/01/25		150,000		158,281
Cenovus Energy, Inc. 5.250%, 06/15/37		155,000		168,890
Concho Resources, Inc. 4.375%, 01/15/25		100,000		103,655
Encana Corp. 7.375%, 11/01/31		250,000		315,799
Eni S.p.A.
4.250%, 05/09/29 (144A) (b)		235,000		256,956
4.750%, 09/12/28 (144A)		305,000		346,123
Eni USA, Inc. 7.300%, 11/15/27		100,000		128,919
EOG Resources, Inc. 2.625%, 03/15/23 (b)		150,000		152,903
Exxon Mobil Corp.
2.995%, 08/16/39		300,000		301,083
3.095%, 08/16/49		175,000		176,123
Gulfport Energy Corp. 6.000%, 10/15/24		350,000		253,172
Marathon Petroleum Corp. 4.750%, 09/15/44		284,000		305,399
MEG Energy Corp.
6.500%, 01/15/25 (144A)		120,000		122,400
7.000%, 03/31/24 (144A)		190,000		183,350
Noble Energy, Inc.
3.850%, 01/15/28		871,000		904,084
3.900%, 11/15/24		277,000		290,414
6.000%, 03/01/41		160,000		193,271
Oasis Petroleum, Inc. 6.875%, 01/15/23 (b)		325,000		297,375
Occidental Petroleum Corp.
2.900%, 08/15/24		140,000		141,063
3.000%, 02/15/27		709,000		703,806
3.500%, 08/15/29		283,000		287,342

BHFTI-213

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Occidental Petroleum Corp.
4.200%, 03/15/48		100,000	$	99,189
4.300%, 08/15/39		139,000		142,678
5.550%, 03/15/26		100,000		113,070
Phillips 66
3.900%, 03/15/28		110,000		118,607
4.875%, 11/15/44		239,000		284,937
Shell International Finance B.V.
2.875%, 05/10/26		376,000		391,958
3.500%, 11/13/23		570,000		604,098
3.750%, 09/12/46		201,000		224,474
Suncor Energy, Inc. 5.350%, 07/15/33		150,000		182,291
Total Capital International S.A.
2.829%, 01/10/30		365,000		376,226
3.461%, 07/12/49		384,000		406,417
Whiting Petroleum Corp. 6.625%, 01/15/26 (b)		400,000		270,000
				11,941,303
Oil & Gas Services—0.1%
Archrock Partners L.P. / Archrock Partners Finance Corp. 6.000%, 10/01/22		200,000		202,250
Baker Hughes a GE Co. LLC 5.125%, 09/15/40		25,000		28,651
Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor, Inc.
3.337%, 12/15/27		652,000		668,893
Halliburton Co.
3.800%, 11/15/25		85,000		90,142
4.850%, 11/15/35		375,000		416,250
Schlumberger Holdings Corp.
3.750%, 05/01/24 (144A)		75,000		78,993
3.900%, 05/17/28 (144A)		869,000		920,003
4.000%, 12/21/25 (144A)		50,000		53,315
				2,458,497
Packaging & Containers—0.1%
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. 6.000%, 02/15/25 (144A)		750,000		784,200
LABL Escrow Issuer LLC 6.750%, 07/15/26 (144A)		230,000		239,056
Mauser Packaging Solutions Holding Co. 5.500%, 04/15/24 (144A)		335,000		345,402
WRKCo, Inc. 3.750%, 03/15/25		150,000		157,919
				1,526,577
Pharmaceuticals—0.8%
AbbVie, Inc.
4.250%, 11/14/28		367,000		398,530
4.400%, 11/06/42		110,000		113,516
4.450%, 05/14/46		430,000		445,682
Allergan Finance LLC 4.625%, 10/01/42		90,000		93,427
Pharmaceuticals—(Continued)
Allergan Funding SCS 4.550%, 03/15/35		142,000		150,841
AstraZeneca plc
4.000%, 09/18/42		213,000		235,381
6.450%, 09/15/37		50,000		70,638
Bausch Health Cos., Inc.
7.000%, 03/15/24 (144A)		885,000		930,100
9.000%, 12/15/25 (144A)		1,625,000		1,824,062
Bristol-Myers Squibb Co.
2.900%, 07/26/24 (144A)		345,000		355,994
3.200%, 06/15/26 (144A)		174,000		182,427
3.400%, 07/26/29 (144A)		485,000		518,570
4.125%, 06/15/39 (144A)		105,000		119,059
4.250%, 10/26/49 (144A)		142,000		165,355
Cigna Corp. 4.375%, 10/15/28		963,000		1,055,706
CVS Health Corp.
2.625%, 08/15/24		70,000		70,242
2.875%, 06/01/26		1,255,000		1,256,538
3.250%, 08/15/29		220,000		221,204
4.300%, 03/25/28		653,000		706,293
4.780%, 03/25/38		472,000		520,334
5.050%, 03/25/48		153,000		173,997
5.300%, 12/05/43		200,000		234,193
CVS Pass-Through Trust
4.704%, 01/10/36 (144A)		291,034		315,571
5.880%, 01/10/28		376,121		418,120
8.353%, 07/10/31 (144A)		147,540		188,993
Elanco Animal Health, Inc. 3.912%, 08/27/21		380,000		389,161
Eli Lilly & Co.
3.875%, 03/15/39		371,000		424,260
3.950%, 03/15/49		63,000		72,964
4.150%, 03/15/59		105,000		123,649
GlaxoSmithKline Capital plc 3.000%, 06/01/24		412,000		426,548
GlaxoSmithKline Capital, Inc. 3.375%, 05/15/23		225,000		234,939
Johnson & Johnson 3.400%, 01/15/38		223,000		241,208
Mylan NV 3.950%, 06/15/26		338,000		349,771
Par Pharmaceutical, Inc. 7.500%, 04/01/27 (144A)		265,000		241,150
Pfizer, Inc.
3.450%, 03/15/29		810,000		878,262
3.900%, 03/15/39		180,000		201,521
4.000%, 03/15/49		279,000		321,940
Shire Acquisitions Investments Ireland DAC
2.875%, 09/23/23		170,000		173,412
3.200%, 09/23/26		1,368,000		1,411,756
Zoetis, Inc.
3.000%, 09/12/27		169,000		173,440
4.500%, 11/13/25		821,000		911,146
				17,339,900

BHFTI-214

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—0.5%
APT Pipelines, Ltd.
4.200%, 03/23/25 (144A)		100,000	$	105,902
4.250%, 07/15/27 (144A)		70,000		75,281
Boardwalk Pipelines L.P.
4.450%, 07/15/27		34,000		34,991
4.800%, 05/03/29		65,000		69,047
Buckeye Partners L.P. 5.600%, 10/15/44		382,000		308,020
Cheniere Energy Partners L.P. 4.500%, 10/01/29 (144A)		140,000		143,412
Columbia Pipeline Group, Inc. 4.500%, 06/01/25		423,000		455,958
Enable Midstream Partners L.P.
4.150%, 09/15/29		90,000		86,620
4.400%, 03/15/27		70,000		70,238
4.950%, 05/15/28		80,000		83,104
Enbridge, Inc. 3.500%, 06/10/24 (b)		292,000		304,988
Energy Transfer Operating L.P.
4.200%, 04/15/27		297,000		312,417
4.750%, 01/15/26		290,000		314,402
5.150%, 02/01/43		566,000		588,283
6.250%, 04/15/49		70,000		84,991
EnLink Midstream Partners L.P. 4.850%, 07/15/26		310,000		294,500
Enterprise Products Operating LLC
3.750%, 02/15/25		67,000		71,284
3.900%, 02/15/24		82,000		87,234
4.200%, 01/31/50		391,000		418,094
4.250%, 02/15/48		285,000		306,615
4.950%, 10/15/54		33,000		38,413
EQM Midstream Partners L.P.
5.500%, 07/15/28		150,000		150,049
Kinder Morgan Energy Partners L.P. 5.000%, 08/15/42		300,000		329,087
Kinder Morgan, Inc.
5.200%, 03/01/48 (b)		80,000		92,184
5.300%, 12/01/34		595,000		683,531
MPLX L.P.
4.125%, 03/01/27		80,000		84,413
4.500%, 04/15/38		465,000		482,245
4.700%, 04/15/48		119,000		124,301
5.200%, 03/01/47		81,000		89,531
ONEOK Partners L.P.
3.375%, 10/01/22		65,000		66,586
4.900%, 03/15/25		382,000		420,114
5.000%, 09/15/23		70,000		75,786
6.650%, 10/01/36		140,000		174,444
ONEOK, Inc.
3.400%, 09/01/29		235,000		232,574
4.450%, 09/01/49		135,000		134,764
4.950%, 07/13/47		59,000		64,005
Phillips 66 Partners L.P.
3.150%, 12/15/29		40,000		39,363
4.900%, 10/01/46		251,000		282,043
Pipelines—(Continued)
Southern Natural Gas Co. LLC
4.800%, 03/15/47 (144A)		102,000		113,001
8.000%, 03/01/32		70,000		98,557
Spectra Energy Partners L.P. 3.500%, 03/15/25		439,000		456,629
Sunoco Logistics Partners Operations L.P.
4.950%, 01/15/43		150,000		151,879
5.350%, 05/15/45		330,000		353,823
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp.
4.250%, 11/15/23		300,000		302,250
6.500%, 07/15/27 (144A)		300,000		327,327
6.750%, 03/15/24		235,000		243,519
Texas Eastern Transmission L.P. 3.500%, 01/15/28 (144A)		45,000		46,803
TransCanada PipeLines, Ltd. 5.100%, 03/15/49		82,000		98,521
Transcanada Trust 5.500%, 3M LIBOR + 4.154%, 09/15/79 (c)		298,000		307,247
				10,278,370
Real Estate—0.0%
Ontario Teachers’ Cadillac Fairview Properties Trust 3.875%, 03/20/27 (144A) (b)		243,000		263,226
Real Estate Investment Trusts—0.5%
Alexandria Real Estate Equities, Inc.
2.750%, 12/15/29		95,000		93,635
3.800%, 04/15/26		105,000		111,706
4.000%, 02/01/50		111,000		120,991
American Campus Communities Operating Partnership L.P. 3.625%, 11/15/27		150,000		157,567
American Tower Corp.
3.125%, 01/15/27		501,000		510,982
3.375%, 10/15/26		304,000		316,517
3.600%, 01/15/28		147,000		154,925
3.700%, 10/15/49		210,000		209,393
3.800%, 08/15/29		113,000		120,635
3.950%, 03/15/29		236,000		254,316
AvalonBay Communities, Inc. 3.450%, 06/01/25		404,000		427,058
Boston Properties L.P. 4.500%, 12/01/28		100,000		113,777
Brixmor Operating Partnership L.P. 3.850%, 02/01/25		60,000		62,750
Crown Castle International Corp. 4.450%, 02/15/26		100,000		109,687
Equinix, Inc. 5.875%, 01/15/26		500,000		531,955
ERP Operating L.P. 4.150%, 12/01/28		120,000		134,532
ESH Hospitality, Inc.
4.625%, 10/01/27 (144A)		120,000		120,300
5.250%, 05/01/25 (144A)		285,000		294,619

BHFTI-215

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—(Continued)
Goodman U.S. Finance Three LLC 3.700%, 03/15/28 (144A)		680,000	$	706,127
HCP, Inc.
3.250%, 07/15/26		277,000		284,949
3.500%, 07/15/29		118,000		122,634
4.200%, 03/01/24		353,000		379,681
Iron Mountain, Inc. 4.375%, 06/01/21 (144A)		250,000		252,552
Liberty Property L.P. 4.375%, 02/01/29		217,000		242,506
Life Storage L.P. 4.000%, 06/15/29		137,000		146,592
Mid-America Apartments L.P. 4.000%, 11/15/25		85,000		91,092
National Retail Properties, Inc. 4.000%, 11/15/25		100,000		107,190
Office Properties Income Trust
4.000%, 07/15/22		140,000		142,680
4.150%, 02/01/22		280,000		286,321
Public Storage 3.385%, 05/01/29		60,000		64,364
Realty Income Corp.
3.250%, 06/15/29		155,000		162,165
3.875%, 04/15/25		60,000		64,458
Regency Centers L.P. 2.950%, 09/15/29		115,000		114,761
SBA Communications Corp. 4.875%, 09/01/24		184,000		190,440
Scentre Group Trust 1 / Scentre Group Trust 2 3.250%, 10/28/25 (144A)		381,000		390,498
Simon Property Group, Inc. 2.450%, 09/13/29		320,000		313,159
UDR, Inc.
2.950%, 09/01/26		386,000		392,554
3.000%, 08/15/31		120,000		120,206
3.500%, 07/01/27		100,000		105,626
Ventas Realty L.P.
4.125%, 01/15/26		62,000		67,059
4.875%, 04/15/49		88,000		105,210
VICI Properties 1 LLC / VICI FC, Inc. 8.000%, 10/15/23		500,000		546,650
Welltower, Inc.
3.100%, 01/15/30		320,000		320,226
3.625%, 03/15/24		485,000		509,254
4.000%, 06/01/25		307,000		328,134
4.500%, 01/15/24		100,000		108,030
				10,510,463
Retail—0.2%
1011778 BC ULC / New Red Finance, Inc. 3.875%, 01/15/28 (144A)		60,000		60,382
CK Hutchison International 19, Ltd.
2.750%, 09/06/29 (144A)		460,000		457,266
3.625%, 04/11/29 (144A)		205,000		217,712
Retail—(Continued)
Darden Restaurants, Inc. 4.550%, 02/15/48		73,000		77,144
Home Depot, Inc. (The) 3.900%, 12/06/28		190,000		213,581
Lowe’s Cos., Inc.
3.650%, 04/05/29 (b)		249,000		266,301
3.700%, 04/15/46		363,000		365,088
4.050%, 05/03/47		208,000		222,173
4.550%, 04/05/49		122,000		140,934
McDonald’s Corp.
3.350%, 04/01/23		45,000		46,968
3.625%, 05/01/43		582,000		592,338
3.625%, 09/01/49		125,000		126,471
6.300%, 10/15/37		160,000		220,744
O’Reilly Automotive, Inc. 3.550%, 03/15/26		60,000		63,271
PetSmart, Inc.
5.875%, 06/01/25 (144A)		500,000		497,500
8.875%, 06/01/25 (144A) (b)		265,000		251,088
Rite Aid Corp. 6.125%, 04/01/23 (144A) (b)		305,000		241,972
Staples, Inc. 7.500%, 04/15/26 (144A)		229,000		235,939
Starbucks Corp. 3.750%, 12/01/47		206,000		212,767
Walmart, Inc. 3.700%, 06/26/28		258,000		286,199
				4,795,838
Savings & Loans—0.0%
Nationwide Building Society 4.363%, 3M LIBOR + 1.392%, 08/01/24 (144A) (c)		780,000		819,254
Semiconductors—0.1%
Analog Devices, Inc. 4.500%, 12/05/36		113,000		123,452
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
3.125%, 01/15/25		865,000		858,825
3.875%, 01/15/27		120,000		120,620
Broadcom, Inc. 4.750%, 04/15/29 (144A) (b)		450,000		475,644
				1,578,541
Software—0.4%
CDK Global, Inc. 5.250%, 05/15/29 (144A)		200,000		207,000
Fidelity National Information Services, Inc.
3.750%, 05/21/29		553,000		600,032
4.750%, 05/15/48		53,000		64,574
Fiserv, Inc.
3.200%, 07/01/26		60,000		62,160
3.500%, 07/01/29		697,000		733,470
4.400%, 07/01/49		60,000		67,366
Infor U.S., Inc. 6.500%, 05/15/22		970,000		985,762

BHFTI-216

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Software—(Continued)
Informatica LLC 7.125%, 07/15/23 (144A)		250,000	$	254,375
Microsoft Corp.
3.500%, 02/12/35		1,500,000		1,658,556
3.700%, 08/08/46		601,000		688,812
4.500%, 10/01/40		400,000		501,150
Oracle Corp.
2.950%, 05/15/25		450,000		468,097
3.800%, 11/15/37		366,000		401,910
3.900%, 05/15/35		764,000		848,713
4.000%, 11/15/47		181,000		203,386
4.300%, 07/08/34		300,000		349,087
VMware, Inc. 2.950%, 08/21/22		100,000		101,421
				8,195,871
Telecommunications—1.0%
Altice France S.A. 7.375%, 05/01/26 (144A)		413,000		443,339
AT&T, Inc.
2.950%, 07/15/26		209,000		211,991
3.800%, 02/15/27		375,000		397,358
3.950%, 01/15/25		550,000		587,466
4.125%, 02/17/26		200,000		216,013
4.300%, 02/15/30		195,000		214,608
4.300%, 12/15/42		952,000		994,023
4.350%, 03/01/29		251,000		277,388
4.350%, 06/15/45		618,000		651,983
5.250%, 03/01/37		160,000		188,390
5.350%, 09/01/40		300,000		351,694
Bell Canada, Inc. 4.300%, 07/29/49		160,000		184,213
CenturyLink, Inc.
6.750%, 12/01/23 (b)		250,000		273,750
7.500%, 04/01/24		365,000		408,198
Cincinnati Bell, Inc. 7.000%, 07/15/24 (144A)		100,000		92,500
CommScope Technologies LLC 6.000%, 06/15/25 (144A)		500,000		451,250
CommScope. Inc. 6.000%, 03/01/26 (144A)		500,000		517,400
Crown Castle Towers LLC 3.663%, 05/15/45 (144A)		225,000		235,581
Frontier Communications Corp. 8.000%, 04/01/27 (144A) (b)		325,000		342,774
Intelsat Jackson Holdings S.A.
8.000%, 02/15/24 (144A)		240,000		249,300
9.750%, 07/15/25 (144A)		245,000		255,903
Level 3 Financing, Inc. 5.375%, 05/01/25		385,000		398,956
Level 3 Parent LLC 5.750%, 12/01/22		250,000		251,000
Plantronics, Inc. 5.500%, 05/31/23 (144A)		240,000		240,600
Telecommunications—(Continued)
Rogers Communications, Inc. 4.350%, 05/01/49		90,000		103,572
Sprint Capital Corp. 8.750%, 03/15/32		1,000,000		1,233,450
Sprint Corp.
7.625%, 02/15/25		105,000		115,500
7.625%, 03/01/26		1,000,000		1,103,750
T-Mobile USA, Inc. 6.500%, 01/15/26		1,000,000		1,075,190
Telecom Italia Capital S.A. 6.000%, 09/30/34		485,000		516,525
Telefonica Emisiones S.A.U. 4.665%, 03/06/38		570,000		627,224
United States Cellular Corp. 6.700%, 12/15/33		280,000		302,758
Verizon Communications, Inc.
2.625%, 08/15/26		50,000		50,649
3.850%, 11/01/42		1,020,000		1,094,127
4.016%, 12/03/29		644,000		716,000
4.125%, 03/16/27		400,000		441,474
4.272%, 01/15/36		234,000		263,542
4.329%, 09/21/28		1,094,000		1,240,941
4.400%, 11/01/34		213,000		242,797
4.500%, 08/10/33		300,000		349,101
4.862%, 08/21/46		42,000		51,354
5.050%, 03/15/34		250,000		294,245
Vodafone Group plc
4.250%, 09/17/50		280,000		285,404
4.375%, 05/30/28		525,000		579,949
4.875%, 06/19/49		240,000		267,405
6.250%, 11/30/32		160,000		200,761
				19,591,396
Toys/Games/Hobbies—0.0%
Mattel, Inc. 6.750%, 12/31/25 (144A)		500,000		521,720
Transportation—0.3%
Burlington Northern Santa Fe LLC
3.000%, 03/15/23		250,000		257,701
3.050%, 09/01/22		310,000		318,677
3.550%, 02/15/50		233,000		247,259
3.900%, 08/01/46		439,000		491,739
Canadian Pacific Railway Co. 5.750%, 03/15/33		120,000		152,110
CSX Corp.
3.250%, 06/01/27		738,000		775,057
3.350%, 09/15/49		110,000		107,544
3.800%, 11/01/46		404,000		424,169
4.750%, 11/15/48		145,000		174,948
6.150%, 05/01/37		60,000		78,944
JB Hunt Transport Services, Inc. 3.875%, 03/01/26		80,000		84,828
Norfolk Southern Corp.
2.900%, 06/15/26		285,000		294,029
4.150%, 02/28/48		307,000		347,288

BHFTI-217

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Transportation—(Continued)
Ryder System, Inc.
2.500%, 05/11/20		420,000	$	420,721
2.875%, 09/01/20		170,000		171,105
Union Pacific Corp.
3.350%, 08/15/46		444,000		438,185
3.550%, 08/15/39		176,000		184,369
3.600%, 09/15/37		146,000		154,352
				5,123,025
Trucking & Leasing—0.0%
Aviation Capital Group LLC
3.875%, 05/01/23 (144A)		100,000		103,419
4.125%, 08/01/25 (144A)		80,000		83,468
				186,887
Total Corporate Bonds & Notes (Cost $307,538,223)				326,317,329
U.S. Treasury & Government Agencies—8.9%
Agency Sponsored Mortgage - Backed—4.0%
Fannie Mae 30 Yr. Pool
4.000%, 06/01/46		1,074,385		1,146,760
4.000%, 07/01/47		1,102,134		1,157,541
4.000%, 11/01/47		485,128		509,120
4.000%, 12/01/47		449,233		470,611
4.500%, 04/01/39		188,253		200,309
4.500%, 12/01/40		287,837		311,711
4.500%, 06/01/48		443,403		471,878
4.500%, 07/01/48		342,315		359,995
4.500%, 01/01/49		943,887		1,016,257
5.000%, 07/01/44		743,548		819,143
5.000%, 06/01/48		344,534		370,930
5.000%, 07/01/48		738,515		805,203
5.000%, 08/01/48		476,080		519,607
5.000%, 10/01/48		999,446		1,076,018
5.000%, 01/01/49		705,641		775,982
Fannie Mae Pool
2.600%, 10/01/31		350,000		362,651
2.660%, 11/01/26		640,900		665,660
2.820%, 09/01/27		650,000		682,088
3.060%, 08/01/32		350,000		371,606
3.120%, 01/01/30		875,485		941,937
3.130%, 02/01/30		300,000		322,811
3.140%, 12/01/31		1,252,000		1,354,575
3.150%, 06/01/36		472,981		510,362
3.170%, 01/01/30		550,000		593,308
3.200%, 03/01/28		977,968		1,055,928
3.220%, 01/01/30		450,000		487,456
3.230%, 01/01/30		2,437,354		2,636,521
3.240%, 01/01/22		518,832		531,913
3.330%, 04/01/35		500,000		547,027
3.420%, 04/01/30		1,000,000		1,100,686
3.460%, 11/01/32		1,728,000		1,906,307
3.500%, 12/01/27		1,507,000		1,649,137
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae Pool
3.500%, 09/01/49		750,000		773,906
3.530%, 08/01/28		400,000		441,299
3.530%, 05/01/33		500,000		557,383
3.570%, 07/01/26		1,000,000		1,091,246
3.600%, 01/01/27		487,218		529,942
3.660%, 03/01/27		741,235		808,922
3.660%, 10/01/28		493,302		546,739
3.670%, 09/01/28		1,000,000		1,112,325
3.740%, 02/01/29		800,000		899,457
3.740%, 07/01/30		698,474		785,545
3.800%, 09/01/33		908,811		1,005,729
3.840%, 08/01/28		599,461		673,695
3.890%, 12/01/28		573,469		644,175
3.940%, 01/01/29		544,976		615,167
3.960%, 08/01/30		1,489,382		1,705,441
3.990%, 02/01/28		532,631		596,585
4.000%, 09/01/48		467,546		487,339
4.000%, 06/01/49		1,095,708		1,153,132
4.500%, 05/01/48		553,282		590,169
4.500%, 11/01/48		3,047,017		3,238,264
4.500%, 06/01/49		697,397		748,104
Fannie Mae REMICS (CMO)
3.500%, 05/25/49		1,345,307		1,381,960
4.000%, 04/25/42		269,837		293,852
5.000%, 04/25/37		50,456		56,220
5.000%, 07/25/39		250,000		308,395
5.000%, 05/25/40		65,000		81,117
6.000%, 01/25/34		191,449		221,120
Fannie Mae Trust (CMO) 5.620%, 11/25/33		389,473		432,522
Fannie Mae-ACES (CMO)
2.999%, 01/25/28 (c)		1,000,000		1,048,951
3.058%, 09/25/27 (c)		1,000,000		1,058,773
Freddie Mac 30 Yr. Gold Pool 4.000%, 12/01/47		552,562		579,588
5.000%, 12/01/48		513,881		552,252
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
2.811%, 09/25/24		1,500,000		1,550,776
3.422%, 02/25/29		775,000		853,461
3.600%, 02/25/28		1,000,000		1,100,567
3.690%, 01/25/29		520,000		582,837
3.850%, 05/25/28 (c)		585,000		654,996
3.900%, 08/25/28 (c)		990,000		1,120,709
3.920%, 09/25/28 (c)		479,000		543,662
Freddie Mac REMICS (CMO)
2.500%, 01/15/42		153,871		149,359
3.000%, 07/25/49		994,462		1,012,540
3.500%, 03/15/35		600,000		649,652
3.500%, 06/25/46		1,300,024		1,345,674
4.000%, 07/15/38		250,000		273,323
4.000%, 05/25/43		600,000		629,364
5.000%, 02/15/40		117,000		146,441
5.000%, 02/15/41		426,517		515,668
5.500%, 03/15/37		328,077		372,365

BHFTI-218

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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%, 07/15/39		546,018	$	597,404
Ginnie Mae II 30 Yr. Pool
4.250%, 07/20/47		859,102		893,205
4.250%, 10/20/48		1,607,344		1,702,201
4.500%, 02/20/48		3,255,319		3,491,397
4.500%, 05/20/48		296,142		314,958
4.500%, 06/20/48		997,590		1,082,713
4.500%, 12/20/48		593,916		630,817
4.500%, 07/20/49		997,508		1,070,217
4.500%, 09/20/49		2,156,497		2,324,152
5.000%, 07/20/48		456,127		494,502
5.000%, 12/20/48		1,477,133		1,609,232
5.000%, 03/20/49		1,489,635		1,638,431
5.000%, 05/20/49		1,680,995		1,826,094
Government National Mortgage Association (CMO)
2.500%, 05/20/43		224,766		219,677
3.500%, 04/20/49		992,862		1,027,728
5.500%, 02/20/37		168,372		188,929
5.500%, 04/16/37		136,000		154,400
5.500%, 11/16/39		200,000		255,419
6.000%, 04/17/34		92,531		104,841
				81,878,063
U.S. Treasury—4.9%
U.S. Treasury Bonds
2.250%, 08/15/46		820,000		841,525
2.250%, 08/15/49		120,000		123,539
2.500%, 02/15/45 (b)		5,250,000		5,653,594
2.750%, 11/15/42		5,000,000		5,614,648
2.875%, 05/15/43		1,000,000		1,147,305
2.875%, 05/15/49		3,258,000		3,802,951
3.750%, 08/15/41		1,500,000		1,956,152
3.750%, 11/15/43		5,232,000		6,886,824
4.375%, 11/15/39		2,150,000		3,017,979
U.S. Treasury Coupon Strips
Zero Coupon, 02/15/20		9,490,000		9,428,180
Zero Coupon, 08/15/20		10,000,000		9,840,193
Zero Coupon, 02/15/22 (b)		10,000,000		9,613,096
Zero Coupon, 08/15/26		10,500,000		9,354,470
Zero Coupon, 05/15/32		3,000,000		2,366,389
Zero Coupon, 05/15/40		2,500,000		1,620,525
U.S. Treasury Notes
1.125%, 07/31/21		4,975,000		4,925,444
1.750%, 05/15/23		12,302,000		12,374,563
2.000%, 02/28/21		5,500,000		5,519,121
2.000%, 11/15/26		3,000,000		3,076,523
2.875%, 05/15/28		3,890,000		4,270,187
				101,433,208
Total U.S. Treasury & Government Agencies (Cost $171,417,045)				183,311,271
Asset-Backed Securities—1.9%
Security Description	Principal Amount*		Value
Asset-Backed - Automobile—0.6%
Americredit Automobile Receivables Trust 3.360%, 02/18/25		970,000		996,197
American Credit Acceptance Receivables Trust
3.540%, 03/13/23 (144A)		250,000		252,175
3.700%, 07/10/24 (144A)		333,000		335,962
Avis Budget Rental Car Funding AESOP LLC 4.000%, 03/20/25 (144A)		500,000		532,153
Carmax Auto Owner Trust 3.360%, 09/15/23		185,000		189,288
Carnow Auto Receivables Trust 3.610%, 10/15/21 (144A) (e)		183,731		184,237
4.260%, 09/15/23 (144A) (e)		400,000		405,268
CPS Auto Receivables Trust 3.420%, 08/16/21 (144A)		24,350		24,360
Credit Acceptance Auto Loan Trust 2.560%, 10/15/25 (144A)		114,045		114,090
3.330%, 02/15/28 (144A)		700,000		715,196
Drive Auto Receivables Trust 3.660%, 11/15/24		236,000		238,809
3.720%, 09/16/24		227,000		229,257
3.780%, 04/15/25		565,000		576,555
3.810%, 05/15/24		250,000		254,567
3.990%, 01/15/25		250,000		257,182
4.090%, 01/15/26		250,000		257,126
4.090%, 06/15/26		125,000		129,443
DT Auto Owner Trust 3.610%, 11/15/24 (144A)		730,000		744,340
Exeter Automobile Receivables Trust 3.110%, 08/15/25 (144A)		530,000		535,374
3.640%, 11/15/22 (144A)		78,000		78,699
3.950%, 12/15/22 (144A)		220,000		222,576
Flagship Credit Auto Trust 3.790%, 12/16/24 (144A)		203,000		209,227
4.080%, 02/18/25 (144A)		625,000		648,078
4.110%, 10/15/24 (144A)		500,000		520,601
Ford Credit Auto Owner Trust 3.240%, 04/15/23		305,000		310,611
G2 Colorado 4.000%, 08/20/49		800,000		844,500
GLS Auto Receivables Trust 3.250%, 04/18/22 (144A)		82,850		83,070
3.370%, 01/17/23 (144A)		211,173		212,835
Hertz Vehicle Financing II L.P. 2.960%, 10/25/21 (144A)		300,000		302,088
3.710%, 03/25/23 (144A)		570,000		587,017
Nissan Auto Lease Trust 3.250%, 09/15/21		220,000		222,468
Santander Drive Auto Receivables Trust 3.190%, 03/15/22		155,000		155,406
Sonoran Auto Receivables Trust 4.750%, 06/15/25		771,451		788,253
Tesla Auto Lease Trust 3.710%, 08/20/21 (144A)		468,611		476,152
Tricolor Auto Securitization Trust 3.960%, 10/15/21 (144A)		217,613		218,608

BHFTI-219

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Automobile—(Continued)
U.S. Auto Funding LLC 3.990%, 12/15/22 (144A)		500,000	$	508,589
5.500%, 07/15/23 (144A)		147,720		151,120
United Auto Credit Securitization Trust 3.780%, 05/10/23 (144A)		240,000		241,884
Veros Automobile Receivables Trust 2.840%, 04/17/23 (144A)		37,097		37,094
				13,790,455
Asset-Backed - Credit Card—0.1%
Synchrony Card Issuance Trust 2.950%, 03/15/25		743,000		758,895
3.380%, 09/15/24		150,000		153,855
World Financial Network Credit Card Master Trust 3.140%, 12/15/25		375,000		383,305
				1,296,055
Asset-Backed - Other—1.2%
American Homes 4 Rent Trust 3.786%, 10/17/36 (144A)		187,932		197,743
4.691%, 10/17/52 (144A)		100,000		109,036
4.705%, 10/17/36 (144A)		100,000		107,928
Ascentium Equipment Receivables Trust 3.510%, 04/10/24 (144A)		290,000		297,674
B2R Mortgage Trust 2.567%, 06/15/49 (144A)		121,349		121,014
3.336%, 11/15/48 (144A)		63,841		63,893
Business Jet Securities LLC 4.335%, 02/15/33 (144A)		317,412		320,520
4.447%, 06/15/33 (144A)		382,528		389,279
5.437%, 06/15/33 (144A)		279,315		283,922
BXG Receivables Note Trust 4.440%, 02/02/34 (144A)		658,438		680,388
Cerberus SFR Holdings, L.P. 2.000%, 04/25/23		894,002		893,913
CoreVest American Finance Trust 2.968%, 10/15/49 (144A)		629,099		632,167
3.880%, 03/15/52 (144A)		320,000		338,750
Diamond Resorts Owner Trust 3.530%, 02/20/32 (144A)		984,821		985,035
4.190%, 01/21/31 (144A)		201,522		206,299
Fort Credit LLC 6.197%, 11/16/35 (144A) (e)		790,000		793,147
Foundation Finance Trust 3.860%, 11/15/34 (144A)		250,998		254,374
Freedom Financial Network LLC 3.610%, 07/18/24 (144A)		226,632		227,685
3.990%, 10/20/25 (144A)		460,033		463,401
Kabbage Funding LLC 3.825%, 03/15/24 (144A)		600,000		606,554
Legacy Mortgage Asset Trust 3.200%, 05/25/59 (144A) (d)		935,766		939,041
Lendmark Funding Trust 3.380%, 05/20/26 (144A)		819,000		819,000
3.900%, 12/20/27 (144A)		600,000		607,145
Asset-Backed - Other—(Continued)
Lendmark Funding Trust
4.230%, 04/20/27 (144A)		709,000		735,137
4.480%, 04/20/27 (144A)		500,000		525,941
Mariner Finance Issuance Trust 4.200%, 11/20/30 (144A)		1,000,000		1,023,599
Oportun Funding IX LLC 3.910%, 07/08/24 (144A)		340,000		345,200
Oportun Funding X LLC 4.100%, 10/08/24 (144A)		601,000		616,061
Orange Lake Timeshare Trust 3.610%, 04/09/38 (144A)		898,525		913,931
Progress Residential Trust 2.768%, 08/17/34 (144A)		219,197		219,780
3.255%, 03/17/35 (144A)		99,878		100,417
3.395%, 12/17/34 (144A)		300,000		301,117
3.712%, 08/17/35 (144A)		500,000		510,326
4.040%, 08/17/35 (144A)		389,000		397,380
4.427%, 10/17/35 (144A)		349,000		361,286
4.466%, 08/17/35 (144A)		850,000		879,167
4.656%, 08/17/35 (144A)		258,000		265,970
Prosper Marketplace Issuance Trust 3.540%, 04/15/25 (144A)		446,412		448,188
Regional Management Issuance Trust 3.830%, 07/15/27 (144A)		1,165,000		1,171,825
Sierra Timeshare Receivables Funding LLC 3.120%, 05/20/36 (144A)		555,629		557,998
Trafigura Securitisation Finance plc 3.730%, 03/15/22 (144A)		422,222		430,316
Tricon American Homes Trust 2.716%, 09/17/34 (144A)		204,082		205,369
3.198%, 03/17/38 (144A)		525,000		526,121
Upgrade Receivables Trust 3.480%, 03/15/25 (144A)		629,250		631,537
3.760%, 11/15/24 (144A)		64,596		64,803
Vericrest Opportunity Loan Trust LLC 4.150%, 08/25/49 (144A) (d)		800,000		800,483
Verizon Owner Trust 1.920%, 12/20/21 (144A)		105,509		105,412
3.230%, 04/20/23		180,000		183,493
VM DEBT LLC 7.500%, 06/15/24 (144A) (e)		500,000		500,000
VOLT LXXII LLC 4.213%, 10/26/48 (144A) (d)		234,887		235,702
VOLT LXXIII LLC 4.458%, 10/25/48 (144A) (d)		375,508		377,387
VOLT LXXV LLC 4.336%, 01/25/49 (144A) (d)		301,084		303,140
VOLT LXXX LLC 4.090%, 10/25/49 (144A) (d)		625,000		626,056
				24,701,050
Total Asset-Backed Securities (Cost $39,067,336)				39,787,560

BHFTI-220

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Convertible Preferred Stocks—2.2%

Security Description	Shares/ Principal Amount*		Value
Banks—1.8%
Bank of America Corp. 7.250% (b)		12,417	$	18,615,691
Wells Fargo & Co., Series L 7.500%		13,122		19,978,114
				38,593,805
Diversified Financial Services—0.2%
AMG Capital Trust II 5.150%, 10/15/37		75,767		3,712,583
Machinery—0.2%
Stanley Black & Decker, Inc. 5.375%, 05/15/20		41,209		4,140,680
Total Convertible Preferred Stocks (Cost $40,971,348)				46,447,068
Mortgage-Backed Securities—0.5%
Collateralized Mortgage Obligations—0.4%
Antler Mortgage Trust 4.335%, 07/25/22 (144A)		362,000		364,016
Headlands Residential LLC 3.967%, 06/25/24 (144A) (d)		610,000		613,125
LHOME Mortgage Trust 3.844%, 03/25/24 (144A)		345,000		344,752
Seasoned Credit Risk Transfer Trust 3.500%, 03/25/58		1,357,963		1,414,448
3.500%, 07/25/58		688,311		722,486
Seasoned Loans Structured Transaction 3.500%, 06/25/28		1,754,943		1,813,596
3.500%, 11/25/28		1,806,687		1,889,672
Toorak Mortgage Corp. 3.721%, 09/25/22 (d)		430,000		430,613
				7,592,708
Commercial Mortgage-Backed Securities—0.1%
Arivo Funding, LLC 5.165%, 10/31/19 (e)		312,036		312,036
CSMC Trust 3.953%, 09/15/37 (144A)		210,000		224,855
GS Mortgage Securities Trust 2015-590M 3.932%, 10/10/35 (144A) (c)		440,000		470,734
One Lincon Street Commercial Mortgage 5.724%, 10/15/30 (144A) (c)		1,200,000		1,334,724
				2,342,349
Total Mortgage-Backed Securities (Cost $9,595,825)				9,935,057
Preferred Stock—0.1%
Security Description	Shares/ Principal Amount*		Value
Household Products—0.1%
Henkel AG & Co. KGaA (Cost $1,501,590)		12,587		1,246,313
Short-Term Investments—14.0%
Mutual Fund—0.0%
State Street U.S. Treasury Liquidity Fund, 1.768%		25,001		25,001
Repurchase Agreement—12.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $252,160,488; collateralized by U.S. Treasury Notes with rates ranging from 1.750% - 2.375%, maturity dates ranging from 03/15/22 - 05/31/22, and an aggregate market value of $257,206,473.		252,154,884		252,154,884
U.S. Treasury—1.8%
U.S. Treasury Bills
2.206%, 11/07/19 (f) (g)		36,000,000		35,936,422
2.366%, 03/26/20 (f) (h)		475,000		470,854
				36,407,276
Total Short-Term Investments (Cost $288,567,748)				288,587,161
Securities Lending Reinvestments (i)—3.0%
Certificates of Deposit—0.8%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000		2,000,320
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (c)		2,000,000		1,999,842
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (c)		2,000,000		1,999,116
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (c)		2,000,000		1,998,604
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (c)		1,000,000		1,000,005
2.278%, 1M LIBOR + 0.250%, 10/15/19 (c)		2,000,000		2,000,068
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (c)		1,000,000		1,000,143
DZ Bank AG Zero Coupon, 10/18/19		993,980		998,950
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (c)		1,000,000		999,897
Societe Generale 2.337%, 1M LIBOR + 0.280%, 06/19/20 (c)		1,000,000		1,001,182
Standard Chartered Bank 2.180%, FEDEFF PRV + 0.350%, 02/26/20 (c)		2,500,000		2,499,988
				17,498,115

BHFTI-221

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (i)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—0.3%
Agricultural Bank of China 2.295%, 12/11/19		994,263	$	995,388
Bank of China, Ltd. 2.290%, 12/09/19		994,275		995,447
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (c)		1,000,000		1,000,162
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (c)		1,000,000		1,000,028
Societe Generale 2.555%, 3M LIBOR + 0.410%, 12/18/19 (c)		1,000,848		1,000,915
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (c)		1,000,000		1,000,149
				5,992,089
Repurchase Agreements—1.9%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $1,911,022; collateralized by various Common Stock with an aggregate market value of $2,090,000.		1,900,000		1,900,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $3,018,630; collateralized by various Common Stock with an aggregate market value of $3,300,339.		3,000,000		3,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $501,055; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,300,087; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,326,001.		1,300,000		1,300,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,200,080; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,224,000.		1,200,000		1,200,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $3,381,419; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $3,448,809.		3,381,184		3,381,184
Repurchase Agreements—(Continued)
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $2,000,127; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $1,011,982; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $1,097,669.		1,000,000		1,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,500,083; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,669,503.		1,500,000		1,500,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $5,502,160; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $6,112,741.		5,500,000		5,500,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $2,000,131; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $3,700,202; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $4,110,929.		3,700,000		3,700,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $3,100,171; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,444,292.		3,100,000		3,100,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000

BHFTI-222

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (i)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,000,389; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000	$	1,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
				40,081,184
Total Securities Lending Reinvestments (Cost $63,571,884)				63,571,388
Total Investments—101.2% (Cost $1,970,614,137)				2,092,154,080
Other assets and liabilities (net)—(1.2)%				(24,737,087	)
Net Assets—100.0%			$	2,067,416,993

*	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 September 30, 2019, the market value of securities loaned was $64,876,708 and the collateral received consisted of cash in the amount of $63,564,550 and non-cash collateral with a value of $2,862,358. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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)	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 September 30, 2019, the market value of restricted securities was $2,194,688, which is 0.1% of net assets. See details shown in the Restricted Securities table that follows.
(f)	The rate shown represents current yield to maturity.
(g)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2019, the market value of securities pledged was $30,308,379.
(h)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2019, the market value of securities pledged was $338,024.
(i)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $141,622,331, which is 6.9% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Arivo Funding, LLC, 5.165%, 10/31/19		09/21/18-03/15/19	$	312,036	$	312,036	$	312,036
Carnow Auto Receivables Trust, 3.610%, 10/15/21		11/14/18		183,731		183,723		184,237
Carnow Auto Receivables Trust, 4.260%, 09/15/23		11/14/18		400,000		399,959		405,268
Fort Credit LLC, 6.197%, 11/16/35		11/28/18		790,000		790,000		793,147
VM DEBT LLC, 7.500%, 06/15/24		07/16/19		500,000		500,000		500,000
							$	2,194,688

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	2,026,034	SSBT		10/29/19		USD	2,225,192	$	(12,423	)
EUR	2,414,593	SSBT		10/29/19		USD	2,715,843		(78,701	)
EUR	3,729,016	SSBT		10/29/19		USD	4,137,928		(65,216	)

BHFTI-223

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CHF	12,803,705	SSBT		10/29/19		USD	13,092,633	$	233,853
CHF	2,180,424	SSBT		10/29/19		USD	2,224,565		34,762
EUR	4,434,806	CBNA		10/29/19		USD	5,012,258		168,704
EUR	1,970,313	CBNA		10/29/19		USD	2,207,317		55,404
EUR	1,915,637	CBNA		10/29/19		USD	2,128,959		36,762
EUR	2,089,717	RBC		10/29/19		USD	2,326,480		44,158
EUR	117,265,647	SSBT		10/29/19		USD	131,568,913		3,495,120
GBP	1,625,148	CBNA		10/29/19		USD	2,025,951		25,554
GBP	4,506,344	RBC		10/29/19		USD	5,631,028		84,162
JPY	4,140,270,214	SSBT		10/29/19		USD	38,587,486		228,578
SGD	6,824,533	TDB		10/29/19		USD	5,008,593		69,495
Net Unrealized Appreciation								$	4,320,212

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Australian 10 Year Treasury Bond Futures		12/16/19		223			AUD	32,858,894		$	200,470
Canada Government Bond 10 Year Futures		12/18/19		376			CAD	53,617,600			(550,091	)
Euro STOXX 50 Index Futures		12/20/19		61			EUR	2,168,550			32,116
FTSE 100 Index Futures		12/20/19		134			GBP	9,893,890			147,801
MSCI EAFE Index Mini Futures		12/20/19		90			USD	8,542,800			(31,686	)
S&P 500 Index E-Mini Futures		12/20/19		1,826			USD	271,937,050			(2,769,167	)
SPI 200 Index Futures		12/19/19		41			AUD	6,849,050			12,404
TOPIX Index Futures		12/12/19		16			JPY	254,080,000			61,993
U.S. Treasury Long Bond Futures		12/19/19		27			USD	4,382,438			(56,248	)
U.S. Treasury Note 10 Year Futures		12/19/19		109			USD	14,204,063			(122,661	)
U.S. Treasury Note 2 Year Futures		12/31/19		53			USD	11,421,500			(34,288	)
U.S. Treasury Ultra Long Bond Futures		12/19/19		44			USD	8,443,875			(146,006	)
Futures Contracts—Short
Euro STOXX 50 Index Futures		12/20/19		(288	)		EUR	(10,238,400	)		(162,852	)
Euro-Bund Futures		12/06/19		(199	)		EUR	(34,675,750	)		405,565
MSCI Emerging Markets Index Mini Futures		12/20/19		(880	)		USD	(44,083,600	)		1,337,898
Russell 2000 Index Mini Futures		12/20/19		(142	)		USD	(10,827,500	)		414,184
S&P TSX 60 Index Futures		12/19/19		(68	)		CAD	(13,546,960	)		98,462
SPI 200 Index Futures		12/19/19		(370	)		AUD	(61,808,500	)		(112,816	)
TOPIX Index Futures		12/12/19		(146	)		JPY	(2,318,480,000	)		(888,967	)
U.S. Treasury Note 10 Year Futures		12/19/19		(751	)		USD	(97,864,688	)		(81,752	)
U.S. Treasury Note 5 Year Futures		12/31/19		(37	)		USD	(4,408,492	)		5,940
U.S. Treasury Ultra Long Bond Futures		12/19/19		(57	)		USD	(8,117,156	)		92,661
Net Unrealized Depreciation										$	(2,147,040	)

BHFTI-224

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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 (Received)			Unrealized Appreciation
Pay	3M LIBOR		Quarterly	1.576%	Semi-Annually		09/25/29		USD	100,600,000	$	(101	)	$	(67,128	)	$	67,027
Pay	3M LIBOR		Quarterly	1.920%	Semi-Annually		06/27/29		USD	180,000,000		5,732,010			(247,963	)		5,979,973
Pay	3M LIBOR		Quarterly	1.985%	Semi-Annually		07/29/29		USD	161,700,000		6,156,065			(231,439	)		6,387,504
Pay	3M LIBOR		Quarterly	2.085%	Semi-Annually		06/11/29		USD	181,000,000		8,454,655			—			8,454,655
Totals											$	20,342,629		$	(546,530	)	$	20,889,159

Glossary of Abbreviations

Counterparties

(CBNA)—	Citibank N.A.
(RBC)—	Royal Bank of Canada
(SSBT)—	State Street Bank and Trust
(TDB)—	Toronto Dominion Bank

Currencies

(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(EUR)—	Euro
(GBP)—	British Pound
(JPY)—	Japanese Yen
(SGD)—	Singapore Dollar
(USD)—	United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ACES)—	Alternative Credit Enhancement Securities
(ADR)—	American Depositary Receipt
(CMO)—	Collateralized Mortgage Obligation
(GDR)—	Global Depositary Receipt
(ICE)—	Intercontinental Exchange, Inc.
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-225

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	4,926,754	$	8,351,411	$	—	$	13,278,165
Air Freight & Logistics		—		1,665,627		—		1,665,627
Airlines		2,973,629		2,138,203		—		5,111,832
Auto Components		367,579		3,556,666		—		3,924,245
Automobiles		1,821,058		14,465,420		—		16,286,478
Banks		33,631,284		40,293,119		—		73,924,403
Beverages		10,802,554		8,351,865		—		19,154,419
Biotechnology		5,841,418		985,882		—		6,827,300
Building Products		1,299,038		2,557,534		—		3,856,572
Capital Markets		10,319,577		9,544,306		—		19,863,883
Chemicals		3,158,317		9,499,162		—		12,657,479
Commercial Services & Supplies		2,301,676		1,549,543		—		3,851,219
Communications Equipment		1,633,189		424,662		—		2,057,851
Construction & Engineering		—		4,567,059		—		4,567,059
Construction Materials		2,554,701		3,723,180		—		6,277,881
Consumer Finance		3,415,894		—		—		3,415,894
Containers & Packaging		4,091,074		—		—		4,091,074
Distributors		164,025		126,255		—		290,280
Diversified Consumer Services		59,310		—		—		59,310
Diversified Financial Services		2,555,553		4,049,975		—		6,605,528
Diversified Telecommunication Services		2,911,020		10,855,444		—		13,766,464
Electric Utilities		8,717,343		10,767,716		—		19,485,059
Electrical Equipment		2,485,276		7,443,701		—		9,928,977
Electronic Equipment, Instruments & Components		2,394,430		6,494,740		—		8,889,170
Entertainment		4,481,786		4,093,587		—		8,575,373
Equity Real Estate Investment Trusts		8,148,209		2,470,472		—		10,618,681
Food & Staples Retailing		2,467,479		8,032,908		—		10,500,387
Food Products		2,142,789		14,497,733		—		16,640,522
Gas Utilities		—		3,232,049		—		3,232,049
Health Care Equipment & Supplies		6,306,676		1,003,581		—		7,310,257
Health Care Providers & Services		7,290,843		841,254		—		8,132,097
Health Care Technology		1,141,948		—		—		1,141,948
Hotels, Restaurants & Leisure		5,485,050		5,662,973		—		11,148,023
Household Durables		743,137		11,220,681		—		11,963,818
Household Products		3,320,226		524,973		—		3,845,199
Independent Power and Renewable Electricity Producers		—		350,414		—		350,414
Industrial Conglomerates		2,701,471		3,757,028		—		6,458,499
Insurance		9,308,922		40,061,011		—		49,369,933
Interactive Media & Services		11,307,668		7,459,431		—		18,767,099
Internet & Direct Marketing Retail		18,774,780		—		—		18,774,780
IT Services		19,341,708		12,150,899		—		31,492,607

BHFTI-226

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Leisure Products	$	230,970		$	1,239,771		$	—	$	1,470,741
Life Sciences Tools & Services		3,102,976			—			—		3,102,976
Machinery		7,310,398			8,150,216			—		15,460,614
Media		7,293,930			2,732,536			—		10,026,466
Metals & Mining		189,536			17,337,146			—		17,526,682
Multi-Utilities		671,997			4,931,812			—		5,603,809
Multiline Retail		2,637,604			3,793,328			—		6,430,932
Oil, Gas & Consumable Fuels		12,807,709			20,918,428			—		33,726,137
Personal Products		199,080			6,965,073			—		7,164,153
Pharmaceuticals		11,444,057			33,458,437			—		44,902,494
Professional Services		510,963			4,996,766			—		5,507,729
Real Estate Management & Development		1,262,327			4,936,068			—		6,198,395
Road & Rail		3,252,239			6,202,588			—		9,454,827
Semiconductors & Semiconductor Equipment		18,238,922			9,873,262			—		28,112,184
Software		19,979,001			4,679,434			—		24,658,435
Specialty Retail		13,791,528			4,670,050			—		18,461,578
Technology Hardware, Storage & Peripherals		15,328,477			3,185,724			—		18,514,201
Textiles, Apparel & Luxury Goods		1,668,688			6,760,449			—		8,429,137
Thrifts & Mortgage Finance		—			5,194,662			—		5,194,662
Tobacco		1,962,982			5,075,466			—		7,038,448
Trading Companies & Distributors		216,638			10,298,321			—		10,514,959
Transportation Infrastructure		—			1,816,709			—		1,816,709
Wireless Telecommunication Services		203,305			2,225,556			—		2,428,861
Total Common Stocks		333,690,718			436,212,266			—		769,902,984
Total Convertible Bonds*		—			363,047,949			—		363,047,949
Total Corporate Bonds & Notes*		—			326,317,329			—		326,317,329
Total U.S. Treasury & Government Agencies*		—			183,311,271			—		183,311,271
Total Asset-Backed Securities*		—			39,787,560			—		39,787,560
Total Convertible Preferred Stocks*		46,447,068			—			—		46,447,068
Total Mortgage-Backed Securities*		—			9,935,057			—		9,935,057
Total Preferred Stock*		—			1,246,313			—		1,246,313
Short-Term Investments
Mutual Fund		25,001			—			—		25,001
Repurchase Agreement		—			252,154,884			—		252,154,884
U.S. Treasury		—			36,407,276			—		36,407,276
Total Short-Term Investments		25,001			288,562,160			—		288,587,161
Total Securities Lending Reinvestments*		—			63,571,388			—		63,571,388
Total Investments	$	380,162,787		$	1,711,991,293		$	—	$	2,092,154,080
Collateral for Securities Loaned (Liability)	$	—		$	(63,564,550	)	$	—	$	(63,564,550	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	4,476,552		$	—	$	4,476,552
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(156,340	)		—		(156,340	)
Total Forward Contracts	$	—		$	4,320,212		$	—	$	4,320,212
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	2,809,494		$	—		$	—	$	2,809,494
Futures Contracts (Unrealized Depreciation)		(4,956,534	)		—			—		(4,956,534	)
Total Futures Contracts	$	(2,147,040	)	$	—		$	—	$	(2,147,040	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	20,889,159		$	—	$	20,889,159

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-227

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—95.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.4%
Moog, Inc. - Class A		25,100	$	2,036,112
Air Freight & Logistics—0.5%
Echo Global Logistics, Inc. (a)		107,900		2,443,935
Auto Components—0.8%
Adient plc (b)		42,200		968,912
Cooper-Standard Holdings, Inc. (a)		2,300		94,024
Gentherm, Inc. (a)		37,000		1,520,145
Stoneridge, Inc. (a) (b)		45,200		1,399,844
				3,982,925
Banks—17.2%
1st Source Corp.		31,591		1,444,656
American National Bankshares, Inc.		1,800		63,846
Atlantic Capital Bancshares, Inc. (a)		22,400		388,416
Atlantic Union Bankshares Corp.		2,500		93,113
BancFirst Corp.		36,800		2,039,456
BancorpSouth Bank		22,700		672,147
BankFinancial Corp.		62,485		743,572
Banner Corp.		12,400		696,508
Brookline Bancorp, Inc.		32,000		471,360
Bryn Mawr Bank Corp.		9,000		328,590
Cadence BanCorp		4,400		77,176
Cathay General Bancorp		60,400		2,097,994
Central Pacific Financial Corp.		131,001		3,720,428
Central Valley Community Bancorp		7,100		144,485
Century Bancorp, Inc. - Class A		1,200		105,120
Citizens & Northern Corp.		5,700		149,796
City Holding Co. (b)		33,009		2,516,936
Columbia Banking System, Inc.		42,700		1,575,630
Community Bank System, Inc.		39,800		2,455,262
Community Trust Bancorp, Inc.		35,816		1,525,045
East West Bancorp, Inc.		3,128		138,539
Enterprise Financial Services Corp.		62,000		2,526,500
Financial Institutions, Inc.		20,299		612,624
First Bancorp		8,900		319,510
First Bancorp		354,400		3,536,912
First Citizens BancShares, Inc. - Class A		2,500		1,178,875
First Commonwealth Financial Corp.		282,100		3,746,288
First Community Bancshares, Inc.		17,600		569,712
First Financial Corp.		6,100		265,167
First Hawaiian, Inc.		27,000		720,900
First Interstate BancSystem, Inc. - Class A		28,922		1,163,821
Flushing Financial Corp.		42,800		864,774
Glacier Bancorp, Inc.		62,000		2,508,520
Great Southern Bancorp, Inc.		10,800		615,060
Great Western Bancorp, Inc.		30,000		990,000
Hancock Whitney Corp.		7,600		291,042
Home BancShares, Inc.		112,700		2,118,196
Hope Bancorp, Inc. (b)		187,729		2,692,034
Independent Bank Corp.		16,000		341,040
Investors Bancorp, Inc.		284,900		3,236,464
Lakeland Financial Corp. (b)		12,200		536,556
Mercantile Bank Corp.		5,600		183,680
OFG Bancorp		29,945		655,796
Banks—(Continued)
Preferred Bank		5,100		267,138
Republic Bancorp, Inc. - Class A		5,800		252,010
S&T Bancorp, Inc. (b)		6,400		233,792
South State Corp.		48,300		3,636,990
Stock Yards Bancorp, Inc.		5,600		205,464
Tompkins Financial Corp.		6,459		524,019
TriState Capital Holdings, Inc. (a)		7,500		157,800
Trustmark Corp. (b)		168,500		5,747,535
UMB Financial Corp.		65,100		4,204,158
Umpqua Holdings Corp.		172,661		2,842,000
United Bankshares, Inc. (b)		143,400		5,430,558
Washington Trust Bancorp, Inc.		11,100		536,241
Webster Financial Corp.		32,700		1,532,649
West Bancorp, Inc.		3,770		81,960
Westamerica Bancorp (b)		88,400		5,496,712
				82,270,572
Biotechnology—1.7%
Acorda Therapeutics, Inc. (a)		9,700		27,839
Arcus Biosciences, Inc. (a)		96,839		881,235
Enanta Pharmaceuticals, Inc. (a) (b)		10,200		612,816
Epizyme, Inc. (a)		87,700		904,626
Fate Therapeutics, Inc. (a)		50,800		788,924
Five Prime Therapeutics, Inc. (a)		47,000		182,125
Iovance Biotherapeutics, Inc. (a) (b)		84,300		1,534,260
Medicines Co. (The) (a) (b)		61,900		3,095,000
				8,026,825
Building Products—1.2%
Armstrong Flooring, Inc. (a)		41,500		265,185
Builders FirstSource, Inc. (a)		225,200		4,633,490
Masonite International Corp. (a)		16,100		933,800
Quanex Building Products Corp.		1,500		27,120
				5,859,595
Capital Markets—1.0%
Associated Capital Group, Inc. - Class A		900		32,031
Brightsphere Investment Group, Inc.		45,100		446,941
Donnelley Financial Solutions, Inc. (a)		52,800		650,496
Oppenheimer Holdings, Inc. - Class A		4,309		129,529
Stifel Financial Corp.		57,600		3,305,088
				4,564,085
Chemicals—0.9%
FutureFuel Corp.		49,300		588,642
Minerals Technologies, Inc.		17,400		923,766
Trinseo S.A. (b)		61,100		2,624,245
				4,136,653
Commercial Services & Supplies—2.2%
ABM Industries, Inc. (b)		81,700		2,967,344
ACCO Brands Corp.		397,300		3,921,351
Ennis, Inc.		24,400		493,124

BHFTI-228

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Commercial Services & Supplies—(Continued)
Quad/Graphics, Inc.		195,607	$	2,055,829
VSE Corp.		31,152		1,061,972
				10,499,620
Communications Equipment—0.2%
Comtech Telecommunications Corp.		10,400		338,000
NetScout Systems, Inc. (a)		36,200		834,772
				1,172,772
Construction & Engineering—1.6%
EMCOR Group, Inc.		57,000		4,908,840
MYR Group, Inc. (a)		50,700		1,586,403
Sterling Construction Co., Inc. (a)		29,200		383,980
Tutor Perini Corp. (a) (b)		63,900		915,687
				7,794,910
Consumer Finance—0.4%
Nelnet, Inc. - Class A		26,500		1,685,400
Containers & Packaging—0.1%
Myers Industries, Inc.		16,000		282,400
Distributors—0.4%
Core-Mark Holding Co., Inc.		63,300		2,032,879
Weyco Group, Inc.		119		2,691
				2,035,570
Diversified Consumer Services—1.1%
Houghton Mifflin Harcourt Co. (a)		160,400		854,932
K12, Inc. (a)		163,100		4,305,840
				5,160,772
Diversified Financial Services—0.0%
Marlin Business Services Corp.		9,474		238,650
Diversified Telecommunication Services—0.4%
Consolidated Communications Holdings, Inc. (b)		411,300		1,957,788
Electric Utilities—1.2%
IDACORP, Inc.		4,600		518,282
Portland General Electric Co.		89,000		5,016,930
Spark Energy, Inc. - Class A (b)		27,400		289,070
				5,824,282
Electrical Equipment—0.3%
Bloom Energy Corp. - Class A (a) (b)		3,900		12,675
Powell Industries, Inc.		35,000		1,370,250
				1,382,925
Electronic Equipment, Instruments & Components—2.9%
Bel Fuse, Inc. - Class B		23,900		359,217
Benchmark Electronics, Inc.		155,000		4,504,300
Fabrinet (a)		33,300		1,741,590
Insight Enterprises, Inc. (a)		39,300		2,188,617
Electronic Equipment, Instruments & Components—(Continued)
OSI Systems, Inc. (a)		3,300		335,148
Tech Data Corp. (a) (b)		46,700		4,868,008
				13,996,880
Energy Equipment & Services—1.9%
C&J Energy Services, Inc. (a)		14,900		159,877
Dril-Quip, Inc. (a)		77,200		3,873,896
FTS International, Inc. (a)		175,200		392,448
Keane Group, Inc. (a)		25,800		156,348
Matrix Service Co. (a)		108,900		1,866,546
SEACOR Holdings, Inc. (a)		50,900		2,395,863
				8,844,978
Equity Real Estate Investment Trusts—10.8%
Acadia Realty Trust		39,700		1,134,626
Alexander & Baldwin, Inc.		58,289		1,428,663
American Assets Trust, Inc.		99,500		4,650,630
Armada Hoffler Properties, Inc.		16,100		291,249
Ashford Hospitality Trust, Inc.		260,995		863,894
Braemar Hotels & Resorts, Inc.		86,100		808,479
Cedar Realty Trust, Inc.		80,000		240,000
City Office REIT, Inc.		51,600		742,524
CoreCivic, Inc.		22,900		395,712
CorEnergy Infrastructure Trust, Inc.		16,009		755,945
CoreSite Realty Corp.		18,600		2,266,410
DiamondRock Hospitality Co.		319,600		3,275,900
Easterly Government Properties, Inc.		79,700		1,697,610
First Industrial Realty Trust, Inc.		35,900		1,420,204
Franklin Street Properties Corp.		52,400		443,304
Front Yard Residential Corp.		24,100		278,596
Geo Group, Inc. (The)		204,100		3,539,094
Getty Realty Corp.		50,729		1,626,372
Gladstone Commercial Corp.		21,300		500,550
Hersha Hospitality Trust (b)		18,000		267,840
Highwoods Properties, Inc.		8,700		390,978
Industrial Logistics Properties Trust		10,649		226,291
Kite Realty Group Trust		26,200		423,130
Lexington Realty Trust		132,800		1,361,200
Mack-Cali Realty Corp.		123,700		2,679,342
Pebblebrook Hotel Trust		94,654		2,633,274
Piedmont Office Realty Trust, Inc. - Class A		88,900		1,856,232
PotlatchDeltic Corp.		67,800		2,785,563
PS Business Parks, Inc.		11,900		2,165,205
RLJ Lodging Trust		24,757		420,622
Saul Centers, Inc.		3,400		185,334
Service Properties Trust		46,400		1,196,656
STAG Industrial, Inc.		20,500		604,340
Sunstone Hotel Investors, Inc.		397,873		5,466,775
Terreno Realty Corp.		14,300		730,587
UMH Properties, Inc.		900		12,672
Urstadt Biddle Properties, Inc. - Class A		22,700		537,990
Xenia Hotels & Resorts, Inc.		57,700		1,218,624
				51,522,417

BHFTI-229

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Food & Staples Retailing—0.1%
Grocery Outlet Holding Corp. (a)		12,400	$	430,032
Rite Aid Corp. (a) (b)		17,092		118,789
				548,821
Food Products—1.1%
Darling Ingredients, Inc. (a)		30,900		591,117
Sanderson Farms, Inc.		30,300		4,585,299
				5,176,416
Gas Utilities—1.9%
Northwest Natural Holding Co.		39,800		2,839,332
ONE Gas, Inc.		9,500		913,045
Southwest Gas Holdings, Inc.		43,900		3,996,656
Spire, Inc.		14,739		1,285,830
				9,034,863
Health Care Equipment & Supplies—0.3%
Varex Imaging Corp. (a)		47,400		1,352,796
Health Care Providers & Services—1.9%
American Renal Associates Holdings, Inc. (a)		75,580		477,666
Cross Country Healthcare, Inc. (a)		67,400		694,220
Diplomat Pharmacy, Inc. (a)		317,100		1,553,790
Magellan Health, Inc. (a)		30,600		1,900,260
Owens & Minor, Inc. (b)		312,500		1,815,625
Patterson Cos., Inc. (b)		132,200		2,355,804
Triple-S Management Corp. - Class B (a)		21,300		285,420
				9,082,785
Health Care Technology—1.0%
Allscripts Healthcare Solutions, Inc. (a) (b)		438,700		4,816,926
Computer Programs & Systems, Inc.		8,900		201,229
				5,018,155
Hotels, Restaurants & Leisure—1.1%
Boyd Gaming Corp.		25,400		608,330
Brinker International, Inc. (b)		100,400		4,284,068
Red Lion Hotels Corp. (a)		55,900		362,232
				5,254,630
Household Durables—3.3%
Helen of Troy, Ltd. (a)		4,000		630,640
KB Home		148,000		5,032,000
Meritage Homes Corp. (a)		18,300		1,287,405
Sonos, Inc. (a)		225,100		3,018,591
TRI Pointe Group, Inc. (a)		378,900		5,698,656
				15,667,292
Independent Power and Renewable Electricity Producers—1.2%
Atlantic Power Corp. (a)		531,900		1,244,646
Clearway Energy, Inc. - Class A		119,400		2,070,396
Clearway Energy, Inc. - Class C (b)		136,900		2,498,425
				5,813,467
Insurance—2.7%
Ambac Financial Group, Inc. (a) (b)		44,500		869,975
American Equity Investment Life Holding Co.		102,900		2,490,180
AMERISAFE, Inc.		28,000		1,851,080
Argo Group International Holdings, Ltd.		6,819		478,966
CNO Financial Group, Inc.		180,400		2,855,732
Global Indemnity, Ltd.		3,400		84,898
Hallmark Financial Services, Inc. (a)		21,321		407,871
Heritage Insurance Holdings, Inc.		83,700		1,251,315
Horace Mann Educators Corp.		6,511		301,655
MBIA, Inc. (a) (b)		117,600		1,085,448
Primerica, Inc.		3,200		407,136
Third Point Reinsurance, Ltd. (a)		61,300		612,387
				12,696,643
Internet & Direct Marketing Retail—0.5%
Stamps.com, Inc. (a)		32,700		2,434,515
IT Services—0.7%
KBR, Inc.		69,300		1,700,622
Perficient, Inc. (a)		29,300		1,130,394
Unisys Corp. (a)		52,700		391,561
				3,222,577
Machinery—1.8%
AGCO Corp. (b)		27,800		2,104,460
Douglas Dynamics, Inc.		40,542		1,806,957
EnPro Industries, Inc.		6,000		411,900
Graham Corp.		7,500		148,950
Harsco Corp. (a)		9,500		180,120
Hurco Cos., Inc.		13,182		424,065
LB Foster Co. - Class A (a)		9,700		210,199
Wabash National Corp.		238,500		3,460,635
				8,747,286
Media—1.2%
Hemisphere Media Group, Inc. (a)		80,700		986,154
New Media Investment Group, Inc. (b)		79,500		700,395
Sinclair Broadcast Group, Inc. - Class A		75,700		3,235,418
WideOpenWest, Inc. (a) (b)		143,700		885,192
				5,807,159
Metals & Mining—0.9%
Warrior Met Coal, Inc.		97,900		1,911,008
Worthington Industries, Inc.		68,300		2,462,215
				4,373,223
Mortgage Real Estate Investment Trusts—2.1%
AG Mortgage Investment Trust, Inc.		16,100		243,915
ARMOUR Residential REIT, Inc.		78,000		1,306,500
Capstead Mortgage Corp.		135,858		998,556
Cherry Hill Mortgage Investment Corp.		73,000		956,300
Invesco Mortgage Capital, Inc.		138,400		2,118,904
Ladder Capital Corp.		106,200		1,834,074
Two Harbors Investment Corp.		199,845		2,623,965
				10,082,214

BHFTI-230

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Multi-Utilities—1.4%
Avista Corp.		44,800	$	2,170,112
Black Hills Corp.		56,600		4,342,918
Unitil Corp.		6,300		399,672
				6,912,702
Oil, Gas & Consumable Fuels—4.4%
Amplify Energy Corp.		128,700		794,079
Arch Coal, Inc. - Class A (b)		53,200		3,947,440
CNX Resources Corp. (a) (b)		97,200		705,672
Delek U.S. Holdings, Inc. (b)		155,700		5,651,910
Green Plains, Inc. (b)		86,100		912,230
Gulfport Energy Corp. (a) (b)		551,200		1,493,752
Peabody Energy Corp.		91,000		1,339,520
Renewable Energy Group, Inc. (a) (b)		75,300		1,129,876
REX American Resources Corp. (a)		37,000		2,824,210
W&T Offshore, Inc. (a)		373,600		1,632,632
Whiting Petroleum Corp. (a) (b)		70,900		569,327
				21,000,648
Paper & Forest Products—1.4%
Boise Cascade Co.		29,200		951,628
Domtar Corp.		24,900		891,669
Louisiana-Pacific Corp.		61,200		1,504,296
Schweitzer-Mauduit International, Inc.		66,000		2,471,040
Verso Corp. - Class A (a) (b)		75,300		932,214
				6,750,847
Pharmaceuticals—0.7%
Intra-Cellular Therapies, Inc. (a)		38,700		289,089
Lannett Co., Inc. (a)		113,500		1,271,200
Prestige Consumer Healthcare, Inc. (a) (b)		47,400		1,644,306
				3,204,595
Professional Services—2.7%
Acacia Research Corp. (a)		134,400		360,192
Barrett Business Services, Inc.		30,160		2,678,811
FTI Consulting, Inc. (a)		41,100		4,356,189
Huron Consulting Group, Inc. (a)		54,400		3,336,896
Kelly Services, Inc. - Class A		22,000		532,840
TrueBlue, Inc. (a)		75,300		1,588,830
				12,853,758
Road & Rail—0.8%
ArcBest Corp.		108,100		3,291,645
Covenant Transportation Group, Inc. - Class A (a)		12,600		207,144
YRC Worldwide, Inc. (a) (b)		111,724		337,407
				3,836,196
Semiconductors & Semiconductor Equipment—3.6%
Amkor Technology, Inc. (a)		218,500		1,988,350
Cirrus Logic, Inc. (a)		55,500		2,973,690
NeoPhotonics Corp. (a)		84,900		517,041
Rambus, Inc. (a)		401,600		5,271,000
Synaptics, Inc. (a) (b)		56,300		2,249,185
Semiconductors & Semiconductor Equipment—(Continued)
Veeco Instruments, Inc. (a)		119,500		1,395,760
Xperi Corp.		144,200		2,982,056
				17,377,082
Software—1.8%
ACI Worldwide, Inc. (a) (b)		73,500		2,302,388
Fair Isaac Corp. (a)		5,200		1,578,304
MicroStrategy, Inc. - Class A (a)		6,400		949,568
SecureWorks Corp. - Class A (a)		1,300		16,809
Synchronoss Technologies, Inc. (a) (b)		45,200		244,080
TiVo Corp.		454,500		3,461,017
				8,552,166
Specialty Retail—2.3%
Abercrombie & Fitch Co. - Class A (b)		177,500		2,769,000
Barnes & Noble Education, Inc. (a) (b)		279,900		873,288
Cato Corp. (The) - Class A		43,200		760,752
Express, Inc. (a) (b)		161,000		553,840
Hibbett Sports, Inc. (a)		123,600		2,830,440
Murphy USA, Inc. (a)		9,800		835,940
Office Depot, Inc.		422,400		741,312
Sally Beauty Holdings, Inc. (a)		10,000		148,900
Zumiez, Inc. (a)		40,200		1,273,335
				10,786,807
Textiles, Apparel & Luxury Goods—0.7%
Deckers Outdoor Corp. (a)		10,100		1,488,336
Fossil Group, Inc. (a)		78,300		979,533
G-III Apparel Group, Ltd. (a)		8,500		219,045
Movado Group, Inc.		35,300		877,558
				3,564,472
Thrifts & Mortgage Finance—3.9%
Essent Group, Ltd.		29,400		1,401,498
First Defiance Financial Corp.		20,000		579,300
Luther Burbank Corp.		18,100		205,073
Meridian Bancorp, Inc.		90,700		1,700,625
MGIC Investment Corp.		166,300		2,092,054
Northfield Bancorp, Inc.		168,500		2,706,110
Oritani Financial Corp.		8,000		141,560
Radian Group, Inc.		43,700		998,108
Territorial Bancorp, Inc.		4,600		131,468
United Community Financial Corp.		12,400		133,672
United Financial Bancorp, Inc.		28,300		385,729
Washington Federal, Inc.		175,800		6,502,842
Waterstone Financial, Inc.		25,800		443,244
WSFS Financial Corp.		24,662		1,087,594
				18,508,877
Tobacco—0.2%
Vector Group, Ltd. (b)		63,624		757,758
Trading Companies & Distributors—2.2%
BMC Stock Holdings, Inc. (a)		64,600		1,691,228
DXP Enterprises, Inc. (a)		33,600		1,166,592

BHFTI-231

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—(Continued)
Foundation Building Materials, Inc. (a)		27,400	$	424,426
MRC Global, Inc. (a)		171,000		2,074,230
NOW, Inc. (a)		239,800		2,750,506
Titan Machinery, Inc. (a)		109,400		1,568,796
Veritiv Corp. (a)		35,200		636,416
				10,312,194
Water Utilities—0.2%
American States Water Co.		13,100		1,177,166
Total Common Stocks (Cost $432,165,135)				455,628,176
Short-Term Investment—4.2%
Repurchase Agreement—4.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $20,258,382; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $20,666,159		20,257,932		20,257,932
Total Short-Term Investments (Cost $20,257,932)				20,257,932
Securities Lending Reinvestments (c)—13.5%
Certificates of Deposit—3.6%
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (d)		2,000,000		1,999,842
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		1,000,000		999,302
Canadian Imperial Bank of Commerce 2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		1,000,000		1,000,005
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		2,000,000		2,000,286
Credit Industriel et Commercial 2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		2,000,000		1,999,748
DZ Bank AG
Zero Coupon, 10/18/19		993,980		998,950
Zero Coupon, 11/18/19		994,301		997,180
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		1,000,000		999,840
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 10/17/19		986,758		999,010
Svenska Handelsbanken AB 2.344%, 1M LIBOR + 0.300%, 10/31/19 (d)		1,000,000		1,000,144
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		1,000,000		1,000,233
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		3,000,000		2,999,989
				16,994,529
Commercial Paper—1.5%
China Construction Bank Corp. 2.500%, 10/01/19		1,000,000		1,000,008
Industrial & Commercial Bank of China, Corp.
2.420%, 11/01/19		994,084		998,074
2.470%, 10/25/19		993,688		998,636
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		2,000,000		2,000,324
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		1,000,000		1,000,557
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		1,000,000		999,872
				6,997,471
Repurchase Agreements—8.4%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,112,182; collateralized by various Common Stock with an aggregate market value of $2,310,000.		2,100,000		2,100,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $3,521,735; collateralized by various Common Stock with an aggregate market value of $3,850,395.		3,500,000		3,500,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $501,055; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,100,073; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,122,001.		1,100,000		1,100,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,000,067; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $ 1,020,000.		1,000,000		1,000,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $1,845,369; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $1,882,146.		1,845,241		1,845,241
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $5,000,317; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $5,100,000.		5,000,000		5,000,000

BHFTI-232

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,300,072; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,446,903.		1,300,000	$	1,300,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $1,000,393; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $1,111,407.		1,000,000		1,000,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $5,000,326; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $5,100,000.		5,000,000		5,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $3,200,175; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,555,398.		3,200,000		3,200,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $2,700,149; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,999,867.		2,700,000		2,700,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,100,817; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,333,230.		2,100,000		2,100,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,000,389; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124..		2,000,000		2,000,000
				40,345,241
Total Securities Lending Reinvestments (Cost $64,336,330)				64,337,241
Total Investments—113.0% (Cost $516,759,397)				540,223,349
Other assets and liabilities (net)—(13.0)%				(62,326,228	)
Net Assets—100.0%			$	477,897,121

*	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 September 30, 2019, the market value of securities loaned was $62,775,472 and the collateral received consisted of cash in the amount of $64,345,157. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 Depreciation
Russell 2000 Index E-Mini Futures		12/20/19		269		USD	20,511,250	$	(741,814	)

BHFTI-233

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

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

Other Abbreviations

(REIT)— Real Estate Investment Trust

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total Common Stocks*	$	455,628,176		$	—		$	—	$	455,628,176
Total Short-Term Investment*		—			20,257,932			—		20,257,932
Total Securities Lending Reinvestments*		—			64,337,241			—		64,337,241
Total Investments	$	455,628,176		$	84,595,173		$	—	$	540,223,349
Collateral for Securities Loaned (Liability)	$	—		$	(64,345,157	)	$	—	$	(64,345,157	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(741,814	)	$	—		$	—	$	(741,814	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-234

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—67.8% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.6%
Northrop Grumman Corp.		37,175	$	13,932,818
Thales S.A.		56,144		6,461,718
				20,394,536
Banks—2.9%
HDFC Bank, Ltd.		305,640		5,291,200
M&T Bank Corp.		48,955		7,733,422
				13,024,622
Capital Markets—6.3%
Goldman Sachs Group, Inc. (The)		23,674		4,905,963
Intercontinental Exchange, Inc.		78,838		7,274,382
London Stock Exchange Group plc		93,997		8,441,508
S&P Global, Inc.		30,565		7,487,814
				28,109,667
Chemicals—5.2%
Linde plc		37,688		7,300,919
LyondellBasell Industries NV - Class A		41,513		3,714,168
Sherwin-Williams Co. (The)		21,618		11,887,090
				22,902,177
Electronic Equipment, Instruments & Components—1.4%
Halma plc		247,879		6,005,672
Food Products—3.2%
McCormick & Co., Inc.		22,963		3,589,117
Nestle S.A.		97,126		10,535,654
				14,124,771
Health Care Equipment & Supplies—3.4%
Danaher Corp.		103,886		15,004,255
Health Care Providers & Services—2.3%
UnitedHealth Group, Inc.		47,637		10,352,473
Hotels, Restaurants & Leisure—2.4%
Marriott International, Inc. - Class A		86,209		10,721,813
Household Durables—1.1%
NVR, Inc. (a)		1,279		4,754,491
Industrial Conglomerates—3.2%
Roper Technologies, Inc.		40,025		14,272,915
Insurance—2.9%
AIA Group, Ltd.		1,002,600		9,407,555
Legal & General Group plc		1,105,105		3,374,270
				12,781,825
Interactive Media & Services—3.9%
Alphabet, Inc. - Class A (a)		7,157		8,739,699
Interactive Media & Services—(Continued)
Alphabet, Inc. - Class C (a)		941		1,147,079
Facebook, Inc. - Class A (a)		42,646		7,594,400
				17,481,178
Internet & Direct Marketing Retail—5.5%
Alibaba Group Holding, Ltd. (ADR) (a)		65,326		10,924,467
Amazon.com, Inc. (a)		6,156		10,686,262
Booking Holdings, Inc. (a)		1,517		2,977,279
				24,588,008
IT Services—5.6%
Accenture plc - Class A		45,755		8,800,974
CGI, Inc. (a)		106,200		8,397,563
Nomura Research Institute, Ltd.		380,300		7,593,401
				24,791,938
Life Sciences Tools & Services—2.6%
IQVIA Holdings, Inc. (a)		32,885		4,912,361
Mettler-Toledo International, Inc. (a)		9,036		6,364,959
				11,277,320
Machinery—3.3%
Atlas Copco AB - A Shares		199,208		6,132,734
Parker-Hannifin Corp.		47,515		8,581,684
				14,714,418
Real Estate Management & Development—2.0%
CBRE Group, Inc. - Class A (a)		167,088		8,857,335
Semiconductors & Semiconductor Equipment—2.0%
Texas Instruments, Inc.		68,905		8,905,282
Software—4.0%
Dassault Systemes SE		34,772		4,953,529
Temenos AG (a)		41,639		6,977,862
Tyler Technologies, Inc. (a) (b)		21,545		5,655,563
				17,586,954
Total Common Stocks (Cost $204,127,497)				300,651,650
Corporate Bonds & Notes—16.6%
Advertising—0.0%
Outfront Media Capital LLC / Outfront Media Capital Corp. 5.875%, 03/15/25		55,000		56,719
Aerospace/Defense—0.1%
Embraer Netherlands Finance B.V. 5.050%, 06/15/25		370,000		404,691

BHFTI-235

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Aerospace/Defense—(Continued)
TransDigm, Inc.
6.500%, 07/15/24		76,000	$	78,375
6.500%, 05/15/25		75,000		77,813
				560,879
Airlines—0.7%
Air Canada Pass-Through Trust
3.300%, 01/15/30 (144A)		218,224		225,071
4.125%, 12/15/27 (144A)		149,684		158,904
American Airlines Group, Inc. 5.000%, 06/01/22 (144A)		315,000		327,080
American Airlines Pass-Through Trust
3.700%, 10/15/25		107,867		108,461
3.750%, 10/15/25		294,924		299,544
4.950%, 02/15/25		133,790		141,138
5.250%, 01/15/24		633,295		673,057
Delta Air Lines Pass-Through Trust 8.021%, 08/10/22		522,420		578,894
Latam Airlines Pass-Through Trust 4.200%, 11/15/27		238,859		244,305
U.S. Airways Pass-Through Trust 5.900%, 10/01/24		49,567		55,178
United Airlines Pass-Through Trust 3.650%, 10/07/25		87,153		88,137
				2,899,769
Auto Manufacturers—1.0%
Allison Transmission, Inc. 4.750%, 10/01/27 (144A)		105,000		108,150
BMW US Capital LLC 3.150%, 04/18/24 (144A)		195,000		202,025
Daimler Finance North America LLC 1.750%, 10/30/19 (144A)		210,000		209,931
Ford Motor Co. 6.625%, 10/01/28		1,675,000		1,841,789
General Motors Co. 5.200%, 04/01/45		100,000		98,714
General Motors Financial Co., Inc.
3.450%, 04/10/22		100,000		101,680
5.250%, 03/01/26		295,000		320,286
Hyundai Capital America 2.750%, 09/27/26 (144A) (b)		500,000		487,203
Hyundai Capital Services, Inc. 3.750%, 03/05/23 (144A)		260,000		268,573
Kia Motors Corp. 3.000%, 04/25/23 (144A)		380,000		384,027
Nissan Motor Acceptance Corp. 3.650%, 09/21/21 (144A)		230,000		235,277
Toyota Motor Credit Corp. 2.650%, 04/12/22		270,000		274,920
				4,532,575
Auto Parts & Equipment—0.5%
Aptiv plc 1.600%, 09/15/28 (EUR)		100,000		115,506
Auto Parts & Equipment—(Continued)
Goodyear Tire & Rubber Co. (The)
4.875%, 03/15/27 (b)		425,000		419,092
7.000%, 03/15/28		1,228,000		1,320,100
Tupy Overseas S.A. 6.625%, 07/17/24 (144A)		200,000		206,252
				2,060,950
Banks—2.0%
Banco Bilbao Vizcaya Argentaria S.A. 0.750%, 09/11/22 (EUR)		400,000		444,708
Banco Santander S.A. 3.125%, 02/23/23		200,000		203,749
Bank of Montreal 1.750%, 06/15/21 (144A)		255,000		254,275
Barclays plc 3.650%, 03/16/25		225,000		230,265
BNP Paribas S.A. 4.625%, 03/13/27 (144A)		355,000		385,043
Canadian Imperial Bank of Commerce 3.500%, 09/13/23		300,000		315,668
Commonwealth Bank of Australia 2.250%, 03/10/20 (144A)		350,000		350,319
Cooperative Rabobank UA 4.375%, 08/04/25		350,000		377,818
Credit Agricole S.A.
3.250%, 10/04/24 (144A)		665,000		684,605
4.375%, 03/17/25 (144A)		200,000		212,124
Danske Bank A/S 3.875%, 09/12/23 (144A)		200,000		207,368
Dexia Credit Local S.A. 2.250%, 02/18/20 (144A)		250,000		250,098
HSBC Holdings plc
4.375%, 11/23/26		200,000		214,474
5.750%, 12/20/27 (GBP)		110,000		167,531
Industrial & Commercial Bank of China, Ltd. 2.957%, 11/08/22		250,000		251,725
Intesa Sanpaolo S.p.A. 5.710%, 01/15/26 (144A)		525,000		557,173
Kasikornbank PCL 3.256%, 07/12/23		375,000		383,951
Lloyds Banking Group plc 4.500%, 11/04/24		200,000		208,817
Morgan Stanley 4.350%, 09/08/26		315,000		341,501
National Australia Bank, Ltd. 2.500%, 01/12/21		250,000		251,304
Royal Bank of Scotland Group plc 6.000%, 12/19/23		235,000		258,340
Santander UK Group Holdings plc 4.750%, 09/15/25 (144A)		200,000		208,466
Societe Generale S.A. 4.750%, 11/24/25 (144A)		260,000		279,308
Standard Chartered plc 3.125%, 11/19/24 (EUR)		250,000		304,314

BHFTI-236

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Toronto-Dominion Bank (The) 3.500%, 07/19/23		335,000	$	353,296
United Overseas Bank, Ltd. 3.200%, 04/23/21 (144A)		735,000		746,366
Woori Bank 5.875%, 04/13/21 (144A)		200,000		208,816
				8,651,422
Beverages—0.1%
Anheuser-Busch InBev Worldwide, Inc.
4.750%, 01/23/29		300,000		349,352
Constellation Brands, Inc. 4.750%, 11/15/24		110,000		121,574
				470,926
Building Materials—0.6%
Cemex Finance LLC 6.000%, 04/01/24 (144A)		465,000		477,323
JELD-WEN, Inc. 4.625%, 12/15/25 (144A)		1,695,000		1,701,407
Masco Corp.
6.500%, 08/15/32		8,000		9,811
7.750%, 08/01/29		94,000		120,443
Owens Corning 4.400%, 01/30/48		215,000		198,029
				2,507,013
Chemicals—0.2%
Braskem Finance, Ltd. 5.750%, 04/15/21 (144A)		200,000		207,002
Incitec Pivot Finance LLC 6.000%, 12/10/19 (144A)		80,000		80,507
INVISTA Finance LLC 4.250%, 10/15/19 (144A)		305,000		305,151
LG Chem, Ltd. 3.250%, 10/15/24 (144A)		200,000		206,309
Syngenta Finance NV 1.250%, 09/10/27 (EUR)		200,000		213,322
				1,012,291
Commercial Services—0.2%
DP World Crescent, Ltd. 4.848%, 09/26/28 (144A)		435,000		477,412
Edenred 1.875%, 03/06/26 (EUR)		200,000		238,580
Holding d’Infrastructures de Transport SAS
0.625%, 03/27/23 (EUR)		100,000		110,407
1.625%, 11/27/27 (EUR)		100,000		115,559
United Rentals North America, Inc. 6.500%, 12/15/26		85,000		92,607
				1,034,565
Computers—0.2%
Dell International LLC / EMC Corp.
6.020%, 06/15/26 (144A)		165,000		186,068
8.100%, 07/15/36 (144A)		210,000		267,975
8.350%, 07/15/46 (144A)		150,000		197,748
Hewlett Packard Enterprise Co. 6.350%, 10/15/45		160,000		187,013
				838,804
Cosmetics/Personal Care—0.0%
Avon Products, Inc. 8.950%, 03/15/43		40,000		44,800
Diversified Financial Services—1.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
4.500%, 05/15/21		150,000		154,852
Antares Holdings L.P. 6.000%, 08/15/23 (144A)		255,000		264,201
BOC Aviation, Ltd.
2.750%, 09/18/22 (144A)		210,000		209,957
3.000%, 03/30/20		200,000		200,317
Brookfield Finance, Inc. 4.850%, 03/29/29		185,000		209,421
Jefferies Group LLC 6.250%, 01/15/36		175,000		202,224
Nationstar Mortgage Holdings, Inc. 9.125%, 07/15/26 (144A)		820,000		873,300
Navient Corp.
5.000%, 10/26/20		1,745,000		1,766,812
5.500%, 01/25/23		555,000		573,037
5.625%, 08/01/33		1,150,000		971,037
5.875%, 10/25/24		40,000		40,300
6.750%, 06/15/26 (b)		185,000		189,218
Quicken Loans, Inc.
5.250%, 01/15/28 (144A)		70,000		72,240
5.750%, 05/01/25 (144A)		60,000		61,875
Springleaf Finance Corp.
5.625%, 03/15/23		135,000		144,113
6.875%, 03/15/25		205,000		225,884
7.750%, 10/01/21		165,000		179,438
8.250%, 10/01/23		65,000		75,725
Unifin Financiera S.A. 7.250%, 09/27/23		245,000		253,146
				6,667,097
Electric—0.6%
Emgesa S.A. E.S.P 8.750%, 01/25/21 (144A) (COP)		1,210,000,000		360,740
Empresas Publicas de Medellin E.S.P. 4.250%, 07/18/29 (144A)		200,000		210,280
Enel Chile S.A. 4.875%, 06/12/28		110,000		123,695
Enel Finance International NV 4.625%, 09/14/25 (144A)		450,000		491,564
Engie Energia Chile S.A. 5.625%, 01/15/21 (144A)		250,000		259,638

BHFTI-237

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Gas Natural Fenosa Finance B.V. 1.500%, 01/29/28 (EUR)		200,000	$	237,620
Perusahaan Listrik Negara PT 5.375%, 01/25/29 (144A)		200,000		229,493
RWE AG 2.750%, 5Y EUR Swap + 2.643%, 04/21/75 (EUR) (c)		340,000		378,141
Transelec S.A. 4.250%, 01/14/25 (144A)		460,000		487,605
				2,778,776
Energy-Alternate Sources—0.0%
Greenko Dutch B.V. 5.250%, 07/24/24 (144A)		200,000		200,000
Engineering & Construction—0.0%
Sydney Airport Finance Co. Pty, Ltd. 3.375%, 04/30/25 (144A)		40,000		41,183
Food—0.1%
Danone S.A. 1.691%, 10/30/19 (144A)		225,000		224,892
Sigma Alimentos S.A. de C.V. 4.125%, 05/02/26		200,000		206,752
				431,644
Forest Products & Paper—0.1%
Inversiones CMPC S.A. 4.375%, 05/15/23 (144A)		400,000		416,983
Gas—0.1%
China Resources Gas Group, Ltd. 4.500%, 04/05/22 (144A)		200,000		208,460
NGL Energy Partners L.P. / NGL Energy Finance Corp.
6.125%, 03/01/25		265,000		252,412
7.500%, 11/01/23		125,000		127,344
				588,216
Healthcare-Products—0.1%
DH Europe Finance II S.a.r.l. 0.750%, 09/18/31 (EUR)		140,000		153,062
Medtronic Global Holdings Co. 1.125%, 03/07/27 (EUR)		105,000		121,466
				274,528
Healthcare-Services—1.8%
HCA, Inc.
7.050%, 12/01/27		65,000		76,050
7.500%, 11/06/33		4,235,000		5,082,000
7.580%, 09/15/25 (b)		310,000		365,800
7.750%, 07/15/36 (b)		1,185,000		1,386,450
Tenet Healthcare Corp.
5.125%, 05/01/25		115,000		116,587
6.875%, 11/15/31		995,000		905,450
				7,932,337
Home Builders—0.4%
Beazer Homes USA, Inc. 7.250%, 10/15/29 (144A)		465,000		472,556
TRI Pointe Group, Inc. 4.875%, 07/01/21		1,355,000		1,395,650
				1,868,206
Insurance—0.4%
AIA Group, Ltd.
3.200%, 03/11/25 (144A)		200,000		206,298
3.900%, 04/06/28 (144A)		260,000		282,497
Global Atlantic Fin Co. 8.625%, 04/15/21 (144A)		820,000		885,149
Old Republic International Corp. 4.875%, 10/01/24		175,000		191,668
Radian Group, Inc.
4.500%, 10/01/24		70,000		72,275
4.875%, 03/15/27		40,000		40,500
				1,678,387
Internet—0.2%
Alibaba Group Holding, Ltd. 3.400%, 12/06/27		240,000		249,297
Baidu, Inc. 3.875%, 09/29/23		200,000		208,092
Tencent Holdings, Ltd.
2.985%, 01/19/23 (144A)		200,000		203,135
3.280%, 04/11/24 (144A)		200,000		205,425
Weibo Corp. 3.500%, 07/05/24		200,000		203,198
				1,069,147
Iron/Steel—0.0%
United States Steel Corp. 6.650%, 06/01/37		75,000		57,563
Media—0.5%
COX Communications, Inc. 4.800%, 02/01/35 (144A)		5,000		5,438
CSC Holdings LLC 5.375%, 02/01/28 (144A)		200,000		210,750
DISH DBS Corp.
5.000%, 03/15/23 (b)		160,000		161,648
5.875%, 11/15/24		570,000		565,012
7.750%, 07/01/26 (b)		145,000		147,755
Grupo Televisa S.A.B. 7.250%, 05/14/43 (MXN)		6,000,000		225,866
Myriad International Holdings B.V. 6.000%, 07/18/20 (144A)		200,000		204,834
Time Warner Cable LLC
4.500%, 09/15/42		45,000		44,253
5.500%, 09/01/41		30,000		32,331
Viacom, Inc.
4.375%, 03/15/43		10,000		10,304
5.250%, 04/01/44		135,000		152,883
5.850%, 09/01/43		50,000		61,493

BHFTI-238

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Videotron, Ltd. 5.125%, 04/15/27 (144A)		230,000	$	243,225
				2,065,792
Mining—0.4%
Corp. Nacional del Cobre de Chile
3.000%, 09/30/29 (144A)		285,000		283,965
4.500%, 09/16/25 (144A)		225,000		246,128
4.500%, 09/16/25		230,000		251,597
Glencore Finance Canada, Ltd. 5.550%, 10/25/42 (144A)		435,000		471,670
Hecla Mining Co. 6.875%, 05/01/21		320,000		316,800
				1,570,160
Miscellaneous Manufacturing—0.0%
General Electric Co.
4.500%, 03/11/44		55,000		58,917
Multi-National—0.3%
Banco Latinoamericano de Comercio Exterior S.A. 3.250%, 05/07/20 (144A)		280,000		280,703
International Bank for Reconstruction & Development
2.200%, 01/18/22 (CAD)		640,000		487,895
2.500%, 03/12/20 (AUD)		500,000		339,567
				1,108,165
Oil & Gas—1.6%
Antero Resources Corp.
5.125%, 12/01/22		155,000		136,013
5.375%, 11/01/21		70,000		67,725
BP Capital Markets America, Inc. 3.216%, 11/28/23		175,000		181,733
California Resources Corp. 8.000%, 12/15/22 (144A) (b)		995,000		492,525
Chesapeake Energy Corp.
4.875%, 04/15/22 (b)		2,145,000		1,732,087
5.750%, 03/15/23		130,000		99,450
8.000%, 06/15/27 (b)		225,000		151,313
Cimarex Energy Co. 4.375%, 06/01/24		675,000		709,337
Continental Resources, Inc.
3.800%, 06/01/24		180,000		183,448
4.500%, 04/15/23		195,000		202,565
5.000%, 09/15/22		19,000		19,167
Cosan Luxembourg S.A. 5.000%, 03/14/23 (144A)		200,000		202,000
Oasis Petroleum, Inc. 6.875%, 01/15/23 (b)		45,000		41,175
Petrobras Global Finance B.V. 5.999%, 01/27/28		270,000		300,240
Raizen Fuels Finance S.A. 5.300%, 01/20/27 (144A)		200,000		216,700
Oil & Gas—(Continued)
Range Resources Corp.
4.875%, 05/15/25 (b)		130,000		107,250
5.000%, 08/15/22		190,000		178,125
5.000%, 03/15/23		115,000		100,625
Sinopec Group Overseas Development, Ltd. 2.375%, 04/12/20 (144A)		300,000		299,946
SM Energy Co.
6.625%, 01/15/27 (b)		960,000		825,600
6.750%, 09/15/26		30,000		26,250
Thaioil Treasury Center Co., Ltd. 3.625%, 01/23/23 (144A)		350,000		361,193
Vine Oil & Gas LP / Vine Oil & Gas Finance Corp. 9.750%, 04/15/23 (144A)		25,000		11,688
Whiting Petroleum Corp.
5.750%, 03/15/21		145,000		138,479
6.250%, 04/01/23		15,000		11,550
6.625%, 01/15/26 (b)		160,000		108,000
YPF S.A. 16.500%, 05/09/22 (144A) (ARS) (d)		5,400,000		34,348
				6,938,532
Oil & Gas Services—0.1%
Oceaneering International, Inc.
4.650%, 11/15/24		575,000		540,500
Packaging & Containers—0.4%
Owens-Brockway Glass Container, Inc. 5.375%, 01/15/25 (144A) (b)		1,230,000		1,260,750
Sealed Air Corp.
4.875%, 12/01/22 (144A)		10,000		10,500
5.500%, 09/15/25 (144A)		280,000		301,700
Silgan Holdings, Inc. 3.250%, 03/15/25 (EUR)		100,000		111,584
				1,684,534
Pipelines—0.6%
Abu Dhabi Crude Oil Pipeline LLC 3.650%, 11/02/29		385,000		417,417
Enable Midstream Partners L.P. 5.000%, 05/15/44		125,000		114,775
Enbridge Energy Partners L.P. 7.375%, 10/15/45		90,000		133,334
Enbridge, Inc. 2.900%, 07/15/22		125,000		127,373
Energy Transfer Partners L.P. / Regency Energy Finance Corp. 5.000%, 10/01/22		440,000		466,853
EnLink Midstream Partners L.P. 4.150%, 06/01/25		230,000		213,325
MPLX L.P.
4.500%, 07/15/23		10,000		10,654
4.875%, 06/01/25		40,000		44,009
ONEOK Partners L.P. 6.200%, 09/15/43		10,000		12,376
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp. 6.750%, 03/15/24		530,000		549,212

BHFTI-239

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—(Continued)
Transcontinental Gas Pipe Line Co. LLC 7.850%, 02/01/26		560,000	$	709,030
				2,798,358
Real Estate—0.1%
Goodman Australia Industrial Fund Bond Issuer Pty, Ltd. 3.400%, 09/30/26 (144A)		215,000		218,920
Prologis L.P. 2.250%, 06/30/29 (GBP)		135,000		174,712
				393,632
Real Estate Investment Trusts—0.1%
Iron Mountain, Inc. 4.875%, 09/15/29 (144A)		565,000		573,644
Retail—0.3%
CK Hutchison International 19, Ltd. 3.625%, 04/11/29 (144A)		225,000		238,952
J.C. Penney Corp., Inc. 7.625%, 03/01/97		155,000		44,175
Michaels Stores, Inc. 8.000%, 07/15/27 (144A)		665,000		665,831
Walmart, Inc. 3.700%, 06/26/28		235,000		260,685
				1,209,643
Semiconductors—0.1%
Broadcom, Inc. 4.250%, 04/15/26 (144A)		195,000		201,458
Micron Technology, Inc. 5.500%, 02/01/25		104,000		106,878
				308,336
Shipbuilding—0.0%
Huntington Ingalls Industries, Inc. 5.000%, 11/15/25 (144A)		180,000		188,550
Telecommunications—1.2%
America Movil S.A.B. de C.V. 2.125%, 03/10/28 (EUR)		235,000		289,120
AT&T, Inc.
4.500%, 03/09/48		90,000		96,747
4.550%, 03/09/49		115,000		124,082
Cincinnati Bell, Inc.
7.000%, 07/15/24 (144A) (b)		55,000		50,875
8.000%, 10/15/25 (144A)		90,000		79,245
Deutsche Telekom International Finance B.V. 4.375%, 06/21/28 (144A)		350,000		391,520
KT Corp. 2.500%, 07/18/26 (144A)		210,000		207,157
Level 3 Financing, Inc. 5.625%, 02/01/23		380,000		384,750
Level 3 Parent LLC 5.750%, 12/01/22		60,000		60,240
Telecommunications—(Continued)
Millicom International Cellular S.A. 6.250%, 03/25/29 (144A)		200,000		218,420
MTN Mauritius Investments, Ltd. 4.755%, 11/11/24 (144A)		400,000		404,880
Sprint Capital Corp.
6.875%, 11/15/28		1,250,000		1,362,750
8.750%, 03/15/32		350,000		431,707
Telefonica Emisiones S.A. 1.495%, 09/11/25 (EUR)		200,000		232,918
Turkcell Iletisim Hizmetleri AS 5.800%, 04/11/28		215,000		206,955
Windstream Services LLC / Windstream Finance Corp.
9.000%, 06/30/25 (144A)		40,000		21,600
10.500%, 06/30/24 (144A)		1,500,000		828,750
				5,391,716
Transportation—0.0%
FedEx Corp. 1.000%, 01/11/23 (EUR)		130,000		144,972
Total Corporate Bonds & Notes (Cost $69,708,774)				73,650,231
Foreign Government—7.3%
Banks—0.0%
Korea Development Bank (The) 4.500%, 11/22/19 (AUD)		200,000		135,543
Diversified Financial Services—0.1%
CPPIB Capital, Inc. 0.375%, 06/20/24 (144A) (EUR)		250,000		282,146
Gas—0.1%
Korea Gas Corp. 2.750%, 07/20/22 (144A)		260,000		263,025
Provincial—0.4%
Province of Ontario Canada 1.875%, 05/21/20		2,045,000		2,042,399
Sovereign—6.6%
Argentine Republic Government International Bonds
6.875%, 04/22/21		150,000		73,502
7.125%, 06/28/17		505,000		217,155
7.625%, 04/22/46		530,000		229,760
Australia Government Bond 5.500%, 04/21/23 (AUD)		405,000		318,928
Bonos de la Tesoreria de la Republica en pesos
4.000%, 03/01/23 (144A) (CLP)		240,000,000		349,564
4.500%, 03/01/26 (CLP)		215,000,000		329,546
Brazil Notas do Tesouro Nacional
10.000%, 01/01/21 (BRL)		7,765,000		1,977,361
10.000%, 01/01/25 (BRL)		2,635,000		727,764
10.000%, 01/01/27 (BRL)		2,587,000		730,824

BHFTI-240

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Brazilian Government International Bonds
4.625%, 01/13/28		290,000	$	308,128
8.500%, 01/05/24 (BRL)		350,000		93,041
Canadian Government Bonds
0.500%, 03/01/22 (CAD)		535,000		393,797
0.750%, 09/01/20 (CAD)		365,000		273,045
1.750%, 05/01/21 (CAD)		5,450,000		4,123,587
Chile Government International Bond 3.240%, 02/06/28		400,000		425,004
Colombia Government International Bond 3.875%, 04/25/27		200,000		212,000
Colombian TES
6.250%, 11/26/25 (COP)		1,305,500,000		391,590
7.500%, 08/26/26 (COP)		1,880,000,000		600,397
Dominican Republic International Bonds
6.000%, 07/19/28 (144A)		200,000		218,252
8.625%, 04/20/27 (144A) (e)		200,000		239,252
Export Development Canada 1.800%, 09/01/22 (CAD)		250,000		188,512
Export-Import Bank of Korea 3.000%, 11/01/22		200,000		205,018
France Government Bond OAT 4.250%, 10/25/23 (EUR)		2,350,000		3,085,017
Hellenic Republic Government Bonds
3.450%, 04/02/24 (144A) (EUR)		75,000		91,606
3.750%, 01/30/28 (EUR)		335,000		435,659
Indonesia Government International Bonds
2.875%, 07/08/21 (144A) (EUR)		220,000		251,555
4.125%, 01/15/25 (144A)		200,000		212,819
4.750%, 01/08/26 (144A)		200,000		220,517
4.750%, 01/08/26		200,000		220,517
Ireland Government Bond 3.400%, 03/18/24 (EUR)		65,000		83,220
Italy Buoni Poliennali Del Tesoro
2.000%, 02/01/28 (EUR)		625,000		756,675
2.500%, 11/15/25 (EUR)		605,000		742,459
Japan Government Thirty Year Bond 0.500%, 03/20/49 (JPY)		210,850,000		2,030,517
Japanese Government CPI Linked Bond 0.100%, 03/10/28 (JPY) (e)		84,190,545		811,733
Kommunalbanken AS 1.750%, 09/15/20 (144A) (b)		200,000		199,595
Korea Treasury Bond 2.000%, 09/10/22 (KRW)		380,000,000		323,065
Mexican Bonos
5.750%, 03/05/26 (MXN)		6,490,000		311,269
8.000%, 12/07/23 (MXN)		1,835,000		97,353
Mexico Government International Bond 4.000%, 03/15/2115 (EUR)		100,000		124,494
Norwegian Government Bond 2.000%, 05/24/23 (144A) (NOK)		5,567,000		627,095
South Africa Government Bond 7.000%, 02/28/31 (ZAR)		11,655,000		651,125
Spain Government Bonds
0.750%, 07/30/21 (EUR)		185,000		206,279
Sovereign—(Continued)
Spain Government Bonds
1.600%, 04/30/25 (144A) (EUR)		180,000		216,312
2.700%, 10/31/48 (144A) (EUR)		535,000		823,440
4.300%, 10/31/19 (144A) (EUR)		530,000		579,749
4.400%, 10/31/23 (144A) (EUR)		525,000		683,677
Sweden Government Bond 5.000%, 12/01/20 (SEK)		2,650,000		286,833
Thailand Government Bond 2.125%, 12/17/26 (THB)		25,000,000		854,511
Turkey Government Bond 12.400%, 03/08/28 (TRY)		2,525,000		430,149
Turkey Government International Bond 7.625%, 04/26/29		200,000		212,519
United Kingdom Gilt
1.500%, 07/22/26 (GBP)		640,000		852,257
2.750%, 09/07/24 (GBP)		215,000		296,352
4.250%, 06/07/32 (GBP)		125,000		221,909
				29,566,304
Transportation—0.1%
Network Rail Infrastructure Finance plc 4.750%, 01/22/24 (GBP)		235,000		340,018
Total Foreign Government (Cost $34,384,751)				32,629,435
U.S. Treasury & Government Agencies—3.4%
Agency Sponsored Mortgage - Backed—0.8%
Fannie Mae 30 Yr. Pool
3.500%, 07/01/49		3,120,439		3,210,791
Fannie Mae-ACES 2.972%, 11/25/27 (c)		350,000		366,702
				3,577,493
U.S. Treasury—2.6%
U.S. Treasury Bond 2.875%, 05/15/49		745,000		869,613
U.S. Treasury Inflation Indexed Notes
0.125%, 04/15/22 (e)		242,636		240,209
0.375%, 07/15/27 (e)		1,069,776		1,087,765
0.625%, 04/15/23 (e)		2,427,245		2,447,763
U.S. Treasury Notes
1.375%, 05/31/20		600,000		597,961
1.625%, 08/15/29		2,430,000		2,419,464
2.500%, 06/30/20		1,000,000		1,004,609
2.750%, 02/28/25		375,000		397,617
2.875%, 10/15/21		1,160,000		1,188,320
2.875%, 08/15/28		335,000		368,408
3.125%, 11/15/28		615,000		690,626
				11,312,355
Total U.S. Treasury & Government Agencies (Cost $14,556,529)				14,889,848

BHFTI-241

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Convertible Bonds—0.6%

Security Description	Principal Amount*		Value
Computers—0.0%
Western Digital Corp. 1.500%, 02/01/24		160,000	$	153,200
Internet—0.2%
Booking Holdings, Inc. 0.900%, 09/15/21 (b)		595,000		689,912
Media—0.1%
DISH Network Corp. 3.375%, 08/15/26		735,000		673,411
Oil & Gas—0.0%
Chesapeake Energy Corp. 5.500%, 09/15/26		20,000		11,950
SM Energy Co. 1.500%, 07/01/21		90,000		81,173
				93,123
Real Estate Investment Trusts—0.1%
iStar, Inc. 3.125%, 09/15/22		210,000		222,384
Semiconductors—0.1%
Rovi Corp. 0.500%, 03/01/20		485,000		476,222
Software—0.1%
Evolent Health, Inc.
2.000%, 12/01/21		75,000		65,672
Nuance Communications, Inc.
1.000%, 12/15/35		685,000		647,325
1.250%, 04/01/25		70,000		68,600
				781,597
Telecommunications—0.0%
CalAmp Corp. 1.625%, 05/15/20		5,000		4,894
Total Convertible Bonds (Cost $3,049,490)				3,094,743
Municipals—0.3%
City of Oslo Norway 3.550%, 02/12/21 (NOK)		5,000,000		562,125
Tobacco Settlement Financing Corp. 6.706%, 06/01/46		665,000		639,278
Total Municipals (Cost $1,300,388)				1,201,403
Convertible Preferred Stocks—0.1%
Security Description	Shares/ Principal Amount*		Value
Oil, Gas & Consumable Fuels—0.0%
Chesapeake Energy Corp.
5.000%, 12/31/49		849		32,262
5.750%, 12/31/49		393		150,651
5.750%, 12/31/49 (d)		17		6,858
5.750%, 12/31/49		20		8,069
				197,840
Pipelines—0.1%
El Paso Energy Capital Trust I 4.750%, 03/31/28		5,754		301,912
Total Convertible Preferred Stocks (Cost $519,960)				499,752
Mortgage-Backed Securities—0.1%
Commercial Mortgage-Backed Securities—0.1%
Institutional Mortgage Securities Canada, Inc. 2.616%, 07/12/47 (144A) (CAD)		345,604		261,658
Total Mortgage-Backed Securities (Cost $322,514)				261,658
Short-Term Investments—4.1%
Repurchase Agreement—1.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $7,596,144; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $7,748,267.		7,595,975		7,595,975
U.S. Treasury—2.4%
U.S. Treasury Bills
1.846%, 03/26/20 (f)		8,580,000		8,505,122
2.066%, 01/23/20 (f)		1,375,000		1,367,187
2.321%, 10/24/19 (b) (f)		600,000		599,315
				10,471,624
Total Short-Term Investments (Cost $18,064,604)				18,067,599
Securities Lending Reinvestments (g)—1.4%
Certificate of Deposit—0.1%
Chiba Bank, Ltd. 2.270%, 10/08/19		500,000		500,014
Repurchase Agreements—1.3%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $1,000,053; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000

BHFTI-242

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $100,580; collateralized by various Common Stock with an aggregate market value of $110,000.		100,000	$	100,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $503,105; collateralized by various Common Stock with an aggregate market value of $550,056.		500,000		500,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $200,013; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $204,000.		200,000		200,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $200,013; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $204,000.		200,000		200,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $1,400,203; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $1,428,108.		1,400,106		1,400,106
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $364,030; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $371,292.		364,011		364,011
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $200,011; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $222,600.		200,000		200,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $600,236; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $666,844.		600,000		600,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $500,027; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $555,531.		500,000		500,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $500,194; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $555,531.		500,000		500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $300,117; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $333,319.		300,000		300,000
				5,864,117
Total Securities Lending Reinvestments (Cost $6,364,118)				6,364,131
Total Investments—101.7% (Cost $352,398,625)				451,310,450
Other assets and liabilities (net)—(1.7)%				(7,585,789	)
Net Assets—100.0%			$	443,724,661

*	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 September 30, 2019, the market value of securities loaned was $6,207,431 and the collateral received consisted of cash in the amount of $6,369,493 and non-cash collateral with a value of $111,530. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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)	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 September 30, 2019, the market value of restricted securities was $41,206, 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)	The rate shown represents current yield to maturity.
(g)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $33,085,812, which is 7.5% of net assets.

BHFTI-243

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Restricted Securities	Acquisition Date		Shares/Principal Amount		Cost		Value
Chesapeake Energy Corp., 5.750%, 12/31/49		01/14/13-07/10/13		17	$	15,611	$	6,858
YPF S.A., 16.500%, 05/09/22		05/09/17		5,400,000		352,012		34,348
							$	41,206

Country Diversification as of September 30, 2019 (Unaudited)	% of Net Assets
United States		63.5
United Kingdom		6.4
Switzerland		4.1
Canada		4.1
France		3.8
China		2.9
Japan		2.4
Hong Kong		2.3
Sweden		1.4
India		1.2

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	190,000	UBSA		12/18/19		USD	130,423	$	(1,870	)
EUR	9,160,000	MSC		12/18/19		USD	10,167,536		(124,154	)
GBP	925,000	UBSA		12/18/19		USD	1,146,843		(5,897	)
JPY	1,442,535,000	CSI		12/18/19		USD	13,532,198		(118,065	)
Contracts to Deliver
BRL	12,240,000	BOA		12/03/19		USD	2,940,894		6,463
CAD	5,400,000	UBSA		12/18/19		USD	4,102,003		20,833
COP	4,298,855,000	CSI		12/18/19		USD	1,268,529		37,677
MXN	5,920,000	GSBU		12/18/19		USD	297,402		1,068
THB	24,000,000	UBSA		12/18/19		USD	783,840		(2,031	)
ZAR	10,000,000	CBNA		12/18/19		USD	669,761		16,018
Cross Currency Contracts to Buy
EUR	699,978	CSI		12/18/19		NOK	6,965,000		963
Net Unrealized Depreciation								$	(168,995	)

Glossary of Abbreviations

Counterparties

(BOA)—	Bank of America N.A.
(CBNA)—	Citibank N.A.
(CSI)—	Credit Suisse International
(GSBU)—	Goldman Sachs Bank USA
(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
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(SEK)—	Swedish Krona
(THB)—	Thai Baht
(TRY)—	Turkish Lira
(ZAR)—	South African Rand

Other Abbreviations

(ACES)—	Alternative Credit Enhancement Securities
(ADR)—	American Depositary Receipt

BHFTI-244

Brighthouse Funds Trust I

Loomis Sayles Global Allocation Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	13,932,818	$	6,461,718		$	—	$	20,394,536
Banks		7,733,422		5,291,200			—		13,024,622
Capital Markets		19,668,159		8,441,508			—		28,109,667
Chemicals		22,902,177		—			—		22,902,177
Electronic Equipment, Instruments & Components		—		6,005,672			—		6,005,672
Food Products		3,589,117		10,535,654			—		14,124,771
Health Care Equipment & Supplies		15,004,255		—			—		15,004,255
Health Care Providers & Services		10,352,473		—			—		10,352,473
Hotels, Restaurants & Leisure		10,721,813		—			—		10,721,813
Household Durables		4,754,491		—			—		4,754,491
Industrial Conglomerates		14,272,915		—			—		14,272,915
Insurance		—		12,781,825			—		12,781,825
Interactive Media & Services		17,481,178		—			—		17,481,178
Internet & Direct Marketing Retail		24,588,008		—			—		24,588,008
IT Services		17,198,537		7,593,401			—		24,791,938
Life Sciences Tools & Services		11,277,320		—			—		11,277,320
Machinery		8,581,684		6,132,734			—		14,714,418
Real Estate Management & Development		8,857,335		—			—		8,857,335
Semiconductors & Semiconductor Equipment		8,905,282		—			—		8,905,282
Software		5,655,563		11,931,391			—		17,586,954
Total Common Stocks		225,476,547		75,175,103			—		300,651,650
Total Corporate Bonds & Notes*		—		73,650,231			—		73,650,231
Total Foreign Government*		—		32,629,435			—		32,629,435
Total U.S. Treasury & Government Agencies*		—		14,889,848			—		14,889,848
Total Convertible Bonds*		—		3,094,743			—		3,094,743
Total Municipals*		—		1,201,403			—		1,201,403
Convertible Preferred Stocks
Oil, Gas & Consumable Fuels		—		197,840			—		197,840
Pipelines		301,912		—			—		301,912
Total Convertible Preferred Stocks		301,912		197,840			—		499,752
Total Mortgage-Backed Securities*		—		261,658			—		261,658
Total Short-Term Investments*		—		18,067,599			—		18,067,599
Total Securities Lending Reinvestments*		—		6,364,131			—		6,364,131
Total Investments	$	225,778,459	$	225,531,991		$	—	$	451,310,450
Collateral for Securities Loaned (Liability)	$	—	$	(6,369,493	)	$	—	$	(6,369,493	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	83,022		$	—	$	83,022
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—		(252,017	)		—		(252,017	)
Total Forward Contracts	$	—	$	(168,995	)	$	—	$	(168,995	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-245

Brighthouse Funds Trust I

MetLife Multi-Index Targeted Risk Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—74.8% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Affiliated Investment Companies—74.8%
MetLife Aggregate Bond Index Portfolio (Class A) (a)		69,050,072	$	765,074,793
MetLife Mid Cap Stock index Portfolio (Class A) (a)		5,337,494		91,111,017
MetLife MSCI EAFE Index Portfolio (Class A) (a)		15,111,918		200,686,273
MetLife Russell 2000 Index Portfolio (Class A) (a)		2,273,540		41,992,276
MetLife Stock Index Portfolio (Class A) (a)		6,422,926		330,138,397
Total Mutual Funds (Cost $1,382,308,907)				1,429,002,756
Short-Term Investments—25.1%
Discount Notes—12.2%
Fannie Mae
1.806%, 11/04/19 (b)		14,000,000		13,975,142
1.947%, 11/13/19 (b)		10,000,000		9,977,545
Federal Home Loan Bank
1.435%, 10/03/19 (b)		37,000,000		36,996,136
1.830%, 10/09/19 (b) (c)		65,000,000		64,972,844
1.939%, 11/15/19 (b)		15,000,000		14,964,750
1.943%, 10/18/19 (b)		33,000,000		32,970,703
1.958%, 12/13/19 (b)		60,000,000		59,772,484
				233,629,604
Repurchase Agreement—0.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $651,054; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $668,218.		651,040		651,040
U.S. Treasury—12.8%
U.S. Treasury Bills
Zero Coupon, 10/01/19 (b)		57,000,000		57,000,000
1.758%, 10/08/19 (b)		37,000,000		36,987,338
1.862%, 02/13/20 (b) (d)		42,000,000		41,720,044
1.876%, 12/12/19 (b)		65,000,000		64,768,437
1.881%, 11/14/19 (b)		44,000,000		43,903,065
				244,378,884
Total Short-Term Investments (Cost $478,615,884)				478,659,528
Total Investments—99.9% (Cost $1,860,924,791)				1,907,662,284
Other assets and liabilities (net)—0.1%				2,339,128
Net Assets—100.0%			$	1,910,001,412

*	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 September 30, 2019, the market value of securities pledged was $ 30,987,048.
(d)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2019, the market value of securities pledged was $29,303,364.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
MSCI EAFE Index Mini Futures		12/20/19		2,001		USD	189,934,920	$	(742,572	)
Russell 2000 Index E-Mini Futures		12/20/19		600		USD	45,750,000		(1,746,870	)
S&P 500 Index E-Mini Futures		12/20/19		2,128		USD	316,912,400		(3,211,046	)
S&P Midcap 400 Index E-Mini Futures		12/20/19		520		USD	100,776,000		(1,489,824	)
Net Unrealized Depreciation								$	(7,190,312	)

BHFTI-246

Brighthouse Funds Trust I

MetLife Multi-Index Targeted Risk Portfolio

Schedule of Investments as of September 30, 2019 (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 (Received)			Unrealized Appreciation
Pay	3M LIBOR		Quarterly	1.570%	Semi-Annually		12/10/29		USD	97,000,000	$	16,180	$	(16,594	)	$	32,774
Pay	3M LIBOR		Quarterly	1.611%	Semi-Annually		11/15/29		USD	97,000,000		373,673		—			373,673
Pay	3M LIBOR		Quarterly	1.980%	Semi-Annually		10/10/29		USD	98,000,000		3,717,591		(106,277	)		3,823,868
Pay	3M LIBOR		Quarterly	2.050%	Semi-Annually		09/11/29		USD	97,000,000		4,276,128		(150,335	)		4,426,463
Pay	3M LIBOR		Quarterly	2.410%	Semi-Annually		08/13/29		USD	97,000,000		7,492,736		(5,374	)		7,498,110
Pay	3M LIBOR		Quarterly	2.490%	Semi-Annually		07/10/29		USD	98,000,000		8,241,516		(52,153	)		8,293,669
Totals											$	24,117,824	$	(330,733	)	$	24,448,557

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	1,429,002,756		$	—	$	—	$	1,429,002,756
Total Short-Term Investments*		—			478,659,528		—		478,659,528
Total Investments	$	1,429,002,756		$	478,659,528	$	—	$	1,907,662,284
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(7,190,312	)	$	—	$	—	$	(7,190,312	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	24,448,557	$	—	$	24,448,557

* See Schedule of Investments for additional detailed categorizations.

BHFTI-247

Brighthouse Funds Trust I

MFS^® Research International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—98.4% of Net Assets

Security Description	Shares		Value
Australia—3.2%
APA Group		1,349,102	$	10,449,868
Brambles, Ltd.		2,008,276		15,472,012
Caltex Australia, Ltd.		604,706		10,784,469
Oil Search, Ltd.		1,579,414		7,840,865
Sonic Healthcare, Ltd.		532,705		10,109,825
				54,657,039
Belgium—1.0%
KBC Group NV		261,204		16,997,354
Brazil—0.4%
Ambev S.A. (ADR)		1,460,465		6,747,348
Canada—2.6%
Constellation Software, Inc.		9,829		9,816,388
Enbridge, Inc.		239,819		8,417,242
Ritchie Bros Auctioneers, Inc.		258,224		10,293,097
TMX Group, Ltd.		196,971		16,999,407
				45,526,134
China—1.6%
51job, Inc. (ADR) (a) (b)		116,516		8,622,184
China Resources Gas Group, Ltd.		1,700,424		8,391,466
Yum China Holdings, Inc.		248,147		11,273,318
				28,286,968
Denmark—2.3%
Novo Nordisk A/S - Class B		610,794		31,538,364
Orsted A/S		84,133		7,814,161
				39,352,525
France—10.3%
BNP Paribas S.A.		458,383		22,349,279
Danone S.A.		236,869		20,862,464
EssilorLuxottica S.A.		172,811		24,929,233
L’Oreal S.A.		72,697		20,370,313
Legrand S.A.		259,118		18,508,033
LVMH Moet Hennessy Louis Vuitton SE		85,877		34,185,024
Schneider Electric SE		417,003		36,571,357
				177,775,703
Germany—7.4%
adidas AG		70,024		21,793,050
Bayer AG		331,348		23,362,324
GEA Group AG		488,724		13,196,148
Grand City Properties S.A.		856,620		19,270,765
LEG Immobilien AG		185,658		21,252,158
Scout24 AG		144,090		8,217,847
Symrise AG		203,420		19,770,030
				126,862,322
Greece—0.5%
Hellenic Telecommunications Organization S.A.		618,351		8,522,693
Hong Kong—4.3%
AIA Group, Ltd.		3,335,228		31,294,975
CLP Holdings, Ltd.		1,277,500		13,376,282
Hong Kong Exchanges and Clearing, Ltd.		420,900		12,423,773
Techtronic Industries Co., Ltd.		2,478,000		17,390,473
				74,485,503
India—0.9%
HDFC Bank, Ltd.		898,276		15,550,838
Ireland—1.4%
AIB Group plc		3,791,876		11,281,083
Flutter Entertainment plc		78,151		7,314,982
Ryanair Holdings plc (ADR) (b)		93,450		6,203,211
				24,799,276
Israel—1.4%
Check Point Software Technologies, Ltd. (b)		127,975		14,013,262
Mellanox Technologies, Ltd. (b)		91,449		10,021,896
				24,035,158
Italy—2.1%
Eni S.p.A.		1,021,737		15,604,682
Intesa Sanpaolo S.p.A.		8,948,763		21,244,393
				36,849,075
Japan—20.1%
AEON Financial Service Co., Ltd.		968,899		14,660,086
Daikin Industries, Ltd.		203,400		26,708,403
Fujitsu, Ltd.		135,500		10,882,775
Hitachi, Ltd.		497,800		18,642,207
Japan Tobacco, Inc.		552,431		12,105,360
Kansai Paint Co., Ltd.		405,400		9,475,482
Kao Corp.		220,700		16,367,823
KDDI Corp.		828,800		21,664,937
Koito Manufacturing Co., Ltd.		296,000		14,593,664
Kubota Corp.		1,285,000		19,545,048
Kyocera Corp.		175,400		10,954,380
Kyowa Kirin Co., Ltd.		414,700		8,053,168
Mitsubishi UFJ Financial Group, Inc.		3,969,800		20,232,815
Nitto Denko Corp.		236,900		11,481,949
Nomura Research Institute, Ltd.		917,700		18,323,597
Santen Pharmaceutical Co., Ltd.		1,503,000		26,222,028
SoftBank Group Corp.		436,700		17,152,320
Sundrug Co., Ltd.		244,570		7,694,101
Terumo Corp.		671,000		21,616,891
TOTO, Ltd.		422,000		15,906,163
USS Co., Ltd.		939,300		18,320,099
Yamato Holdings Co., Ltd.		363,966		5,503,791
				346,107,087
Malaysia—0.2%
Malaysia Airports Holdings Bhd		1,748,500		3,618,840
Netherlands—3.2%
Akzo Nobel NV		267,615		23,874,333

BHFTI-248

Brighthouse Funds Trust I

MFS^® Research International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Netherlands—(Continued)
Euronext NV		236,035	$	19,294,484
Wolters Kluwer NV		169,991		12,415,582
				55,584,399
Portugal—0.9%
Galp Energia SGPS S.A.		1,031,140		15,510,001
South Korea—1.2%
NAVER Corp.		65,432		8,605,211
Samsung Electronics Co., Ltd.		285,342		11,641,934
				20,247,145
Spain—2.3%
Amadeus IT Group S.A.		235,219		16,868,357
Iberdrola S.A.		2,119,759		22,029,017
				38,897,374
Sweden—0.8%
Tele2 AB - B Shares (a)		453,447		6,743,567
Telefonaktiebolaget LM Ericsson - B Shares		907,133		7,250,376
				13,993,943
Switzerland—13.5%
Cie Financiere Richemont S.A.		174,826		12,848,228
Dufry AG (b)		56,219		4,706,719
Julius Baer Group, Ltd. (b)		425,421		18,871,622
Nestle S.A.		547,354		59,373,727
Roche Holding AG		169,321		49,378,258
Schindler Holding AG (Participation Certificate)		74,458		16,664,185
Sika AG		116,322		17,025,859
Swiss Re AG		111,540		11,640,248
UBS Group AG (b)		1,983,707		22,551,108
Zurich Insurance Group AG		52,958		20,264,657
				233,324,611
Taiwan—1.6%
Silicon Motion Technology Corp. (ADR)		184,861		6,534,836
Taiwan Semiconductor Manufacturing Co., Ltd.		2,358,468		20,776,771
				27,311,607
Thailand—0.7%
Advanced Info Service PCL		1,542,100		11,092,431
United Kingdom—11.2%
Barclays plc		4,512,992		8,340,240
BP plc		4,057,542		25,654,203
British American Tobacco plc		617,246		22,820,573
Cairn Energy plc (b)		3,774,149		8,884,508
Croda International plc		326,459		19,518,082
Hiscox, Ltd.		733,249		14,965,680
Just Eat plc (b)		1,017,852		8,360,310
Linde plc		211,008		40,920,917
United Kingdom—(Continued)
Melrose Industries plc		3,303,380	$	8,183,524
Reckitt Benckiser Group plc		255,459		19,922,965
RELX plc		655,625		15,596,054
				193,167,056
United States—3.3%
Aon plc		143,681		27,812,331
Cadence Design Systems, Inc. (b)		99,393		6,567,889
EPAM Systems, Inc. (b)		51,417		9,374,348
MasterCard, Inc. - Class A		49,145		13,346,308
				57,100,876
Total Common Stocks (Cost $1,479,692,611)				1,696,403,306
Short-Term Investment—0.7%
Repurchase Agreement—0.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $12,317,259; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $12,563,517.		12,316,985		12,316,985
Total Short-Term Investments (Cost $12,316,985)				12,316,985
Securities Lending Reinvestments (c)—0.5%
Repurchase Agreements—0.5%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $1,700,091; collateralized by various Common Stock with an aggregate market value of $1,870,000.		1,700,000		1,700,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $500,033; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $510,000.		500,000		500,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $400,027; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $408,000.		400,000		400,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $1,379,566; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $1,407,060.		1,379,470		1,379,470

BHFTI-249

Brighthouse Funds Trust I

MFS^® Research International Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $1,000,063; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $1,020,000.		1,000,000	$	1,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,000,055; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,113,002.		1,000,000		1,000,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $1,100,072; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $1,122,000.		1,100,000		1,100,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $1,200,066; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,333,274.		1,200,000		1,200,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $577,062; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $641,116.		577,030		577,030
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $100,039; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $111,106.		100,000		100,000
				8,956,500
Total Securities Lending Reinvestments (Cost $8,956,500)				8,956,500
Total Investments—99.6% (Cost $1,500,966,096)				1,717,676,791
Other assets and liabilities (net)—0.4%				7,497,943
Net Assets—100.0%			$	1,725,174,734

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $8,518,868 and the collateral received consisted of cash in the amount of $8,956,500. 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 September 30, 2019.
(ADR)—	American Depositary Receipt

Ten Largest Industries as of September 30, 2019 (Unaudited)	% of Net Assets
Chemicals		8.2
Pharmaceuticals		8.0
Banks		6.7
Insurance		6.1
Textiles, Apparel & Luxury Goods		5.4
Oil, Gas & Consumable Fuels		5.4
Capital Markets		5.2
Food Products		4.7
IT Services		4.0
Machinery		3.9

BHFTI-250

Brighthouse Funds Trust I

MFS^® Research International Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	54,657,039		$	—	$	54,657,039
Belgium		—		16,997,354			—		16,997,354
Brazil		6,747,348		—			—		6,747,348
Canada		45,526,134		—			—		45,526,134
China		19,895,502		8,391,466			—		28,286,968
Denmark		—		39,352,525			—		39,352,525
France		—		177,775,703			—		177,775,703
Germany		—		126,862,322			—		126,862,322
Greece		—		8,522,693			—		8,522,693
Hong Kong		—		74,485,503			—		74,485,503
India		—		15,550,838			—		15,550,838
Ireland		6,203,211		18,596,065			—		24,799,276
Israel		24,035,158		—			—		24,035,158
Italy		—		36,849,075			—		36,849,075
Japan		—		346,107,087			—		346,107,087
Malaysia		—		3,618,840			—		3,618,840
Netherlands		—		55,584,399			—		55,584,399
Portugal		—		15,510,001			—		15,510,001
South Korea		—		20,247,145			—		20,247,145
Spain		—		38,897,374			—		38,897,374
Sweden		—		13,993,943			—		13,993,943
Switzerland		—		233,324,611			—		233,324,611
Taiwan		6,534,836		20,776,771			—		27,311,607
Thailand		11,092,431		—			—		11,092,431
United Kingdom		—		193,167,056			—		193,167,056
United States		57,100,876		—			—		57,100,876
Total Common Stocks		177,135,496		1,519,267,810			—		1,696,403,306
Total Short-Term Investment*		—		12,316,985			—		12,316,985
Total Securities Lending Reinvestments*		—		8,956,500			—		8,956,500
Total Investments	$	177,135,496	$	1,540,541,295		$	—	$	1,717,676,791
Collateral for Securities Loaned (Liability)	$	—	$	(8,956,500	)	$	—	$	(8,956,500	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-251

Brighthouse Funds Trust I

Morgan Stanley Discovery Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—93.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.5%
HEICO Corp. - Class A		184,182	$	17,922,751
Biotechnology—3.2%
Alnylam Pharmaceuticals, Inc. (a) (b)		75,023		6,033,350
Covetrus, Inc. (a)		746,751		8,878,869
Exact Sciences Corp. (a)		219,616		19,846,698
Moderna, Inc. (a) (b)		240,832		3,834,045
				38,592,962
Commercial Services & Supplies—6.8%
Copart, Inc. (a)		379,811		30,510,217
Rollins, Inc. (b)		929,667		31,673,755
Waste Connections, Inc.		209,079		19,235,268
				81,419,240
Containers & Packaging—1.7%
Ball Corp.		279,851		20,375,951
Diversified Consumer Services—2.9%
Service Corp. International (b)		257,898		12,330,103
ServiceMaster Global Holdings, Inc. (a)		395,005		22,080,780
				34,410,883
Entertainment—4.3%
Spotify Technology S.A. (a)		452,880		51,628,320
Health Care Equipment & Supplies—5.1%
DexCom, Inc. (a)		276,937		41,330,078
Penumbra, Inc. (a) (b)		146,694		19,728,876
				61,058,954
Health Care Providers & Services—3.5%
Agilon Health, Inc. (a) (c) (d) (e)		12,946		5,147,977
Guardant Health, Inc. (a) (b)		280,856		17,927,039
HealthEquity, Inc. (a) (b)		331,229		18,928,081
				42,003,097
Health Care Technology—3.3%
Veeva Systems, Inc. - Class A (a)		258,086		39,407,151
Hotels, Restaurants & Leisure—1.0%
Vail Resorts, Inc.		52,516		11,950,541
Household Durables—3.1%
Roku, Inc. (a) (b)		363,753		37,015,505
Interactive Media & Services—13.5%
Match Group, Inc. (b)		311,411		22,247,202
Pinterest, Inc. - Class A (a) (b)		1,069,121		28,278,251
Snap, Inc. - Class A (a) (b)		1,213,664		19,175,891
Twitter, Inc. (a)		1,687,575		69,528,090
Zillow Group, Inc. - Class C (a) (b)		726,772		21,672,341
				160,901,775
Internet & Direct Marketing Retail—6.9%
Chewy, Inc. - Class A (a) (b)		342,218		8,411,718
Farfetch, Ltd. - Class A (a) (b)		1,146,248		9,903,583
MercadoLibre, Inc. (a)		56,094		30,920,696
Overstock.com, Inc. (a) (b)		631,937		6,692,213
Wayfair, Inc. - Class A (a) (b)		233,753		26,208,386
				82,136,596
IT Services—17.6%
Adyen NV (a)		27,576		18,182,407
Broadridge Financial Solutions, Inc.		238,706		29,702,188
MongoDB, Inc. (a) (b)		250,008		30,120,964
Okta, Inc. (a) (b)		295,448		29,089,810
Shopify, Inc. - Class A (a)		139,195		43,381,514
Square, Inc. - Class A (a) (b)		264,682		16,397,050
Twilio, Inc. - Class A (a) (b)		393,671		43,288,063
				210,161,996
Leisure Products—2.1%
Peloton Interactive, Inc. - Class A (a)		971,752		24,390,975
Professional Services—1.8%
Verisk Analytics, Inc.		137,375		21,724,482
Software—13.8%
Alteryx, Inc. - Class A (a)		163,358		17,549,550
Anaplan, Inc. (a)		372,282		17,497,254
Coupa Software, Inc. (a) (b)		323,005		41,851,758
Datadog, Inc. - Class A (a)		300,458		10,188,531
Slack Technologies, Inc. - Class A (a) (b)		1,686,621		40,023,516
Trade Desk, Inc. (The) - Class A (a)		135,577		25,427,466
Zoom Video Communications, Inc. - Class A (a) (b)		155,024		11,812,829
				164,350,904
Specialty Retail—1.8%
Carvana Co. (a) (b)		316,562		20,893,092
Total Common Stocks (Cost $1,049,943,488)				1,120,345,175
Convertible Preferred Stock—2.1%
Internet & Direct Marketing Retail—2.1%
Airbnb, Inc. - Series D (a) (c) (d) (e) (Cost $7,659,587)		188,136		24,655,223
Preferred Stocks—0.5%
Software— 0.5%
Palantir Technologies, Inc. - Series G (a) (c) (d) (e)		541,563		3,319,780
Palantir Technologies, Inc. - Series H (a) (c) (d) (e)		174,289		1,068,392
Palantir Technologies, Inc. - Series H-1 (a) (c) (d) (e)		174,289		1,068,392
Total Preferred Stocks (Cost $2,880,692)				5,456,564

BHFTI-252

Brighthouse Funds Trust I

Morgan Stanley Discovery Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Escrow Shares—0.0%

Security Description	Shares/ Principal Amount*		Value
Internet & Direct Marketing Retail—0.0%
Flipkart Escrow Receivable (a) (c) (d) (e) (Cost $0)		60,812	$	155,679
Short-Term Investment—2.8%
Repurchase Agreement—2.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $33,901,876; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $34,584,102.		33,901,123		33,901,123
Total Short-Term Investments (Cost $33,901,123)				33,901,123
Securities Lending Reinvestments (f)—26.9%
Certificates of Deposit—18.4%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000		2,000,320
Banco Del Estado De Chile New York
2.206%, 1M LIBOR + 0.160%, 11/22/19 (g)		3,000,000		2,999,835
2.222%, 1M LIBOR + 0.180%, 10/09/19 (g)		3,000,000		3,000,000
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (g)		5,000,000		4,999,605
Bank of Montreal (Chicago)
1.990%, SOFR + 0.170%, 02/07/20 (g)		3,000,000		3,000,633
2.150%, 1M LIBOR + 0.100%, 10/11/19 (g)		2,000,000		1,999,964
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (g)		5,000,000		4,999,975
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (g)		3,000,000		2,998,674
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (g)		8,000,000		7,994,416
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (g)		3,000,000		3,000,555
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (g)		10,000,000		10,000,050
2.278%, 1M LIBOR + 0.250%, 10/15/19 (g)		8,000,000		8,000,272
China Construction Bank Corp. 2.470%, 10/18/19		2,000,000		2,000,254
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (g)		5,000,000		4,997,950
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (g)		5,000,000		5,000,095
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (g)		10,000,000		10,001,430
Credit Industriel et Commercial
2.227%, 1M LIBOR + 0.160%, 03/05/20 (g)		4,000,000		3,998,996
2.393%, 3M LIBOR + 0.090%, 10/15/19 (g)		5,000,000		5,000,525
Credit Suisse AG 2.240%, 1M LIBOR + 0.140%, 10/02/19 (g)		8,000,000		8,000,000
DNB Bank ASA 2.020%, 03/10/20		2,000,000		1,999,572
Certificates of Deposit—(Continued)
DZ Bank AG
Zero Coupon, 10/18/19		9,939,798		9,989,500
Zero Coupon, 10/23/19		2,982,242		2,995,980
KBC Bank NV 2.220%, 12/03/19		5,000,000		5,001,200
Mizuho Bank, Ltd.
Zero Coupon, 10/23/19		1,988,162		1,997,320
2.174%, 1M LIBOR + 0.120%, 11/27/19 (g)		3,000,000		2,999,943
Nationwide Building Society Zero Coupon, 10/09/19		3,992,647		3,997,880
Royal Bank of Canada New York
2.060%, SOFR + 0.240%, 07/08/20 (g)		4,000,000		3,999,680
2.110%, SOFR + 0.290%, 07/16/20 (g)		5,000,000		5,001,575
Societe Generale
2.180%, FEDEFF PRV + 0.350%, 06/19/20 (g)		3,000,000		2,999,559
2.280%, FEDEFF PRV + 0.450%, 08/14/20 (g)		3,000,428		3,001,557
2.337%, 1M LIBOR + 0.280%, 06/19/20 (g)		3,000,000		3,003,546
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (g)		7,000,000		7,000,119
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (g)		10,000,000		9,999,950
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (g)		2,000,000		1,999,988
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (g)		3,000,000		2,999,610
2.216%, 1M LIBOR + 0.170%, 01/21/20 (g)		4,000,000		3,999,944
2.234%, 1M LIBOR + 0.180%, 01/27/20 (g)		5,000,000		4,999,655
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 02/18/20		3,956,257		3,967,720
2.184%, 1M LIBOR + 0.140%, 11/20/19 (g)		5,000,000		4,999,900
Svenska Handelsbanken AB
2.247%, 1M LIBOR + 0.180%, 06/05/20 (g)		3,000,000		2,998,590
2.266%, 1M LIBOR + 0.220%, 07/22/20 (g)		4,000,000		3,998,768
2.344%, 1M LIBOR + 0.300%, 10/31/19 (g)		4,000,000		4,000,576
2.429%, 1M LIBOR + 0.380%, 12/10/19 (g)		2,000,000		2,000,804
Toronto-Dominion Bank
2.180%, FEDEFF PRV + 0.350%, 07/31/20 (g)		2,000,000		1,998,818
2.269%, 1M LIBOR + 0.180%, 06/03/20 (g)		5,000,000		4,999,857
Wells Fargo Bank N.A. 2.180%, FEDEFF PRV + 0.350%, 08/20/20 (g)		10,000,000		10,000,000
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (g)		8,000,000		7,999,971
				218,945,131
Commercial Paper—4.9%
Bank of China, Ltd.
2.290%, 12/09/19		4,971,375		4,977,235
2.470%, 10/11/19		7,952,933		7,994,312
Cafco LLC 2.120%, 10/31/19		3,985,160		3,992,724
China Construction Bank Corp. 2.470%, 10/18/19		993,756		998,858
Industrial & Commercial Bank of China, Corp.
2.420%, 11/01/19		4,970,422		4,990,370
2.470%, 10/25/19		1,987,376		1,997,272
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (g)		8,000,000		8,001,296

BHFTI-253

Brighthouse Funds Trust I

Morgan Stanley Discovery Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (g)		2,000,000	$	2,001,114
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (g)		5,000,000		5,000,140
Societe Generale 2.555%, 3M LIBOR + 0.410%, 12/18/19 (g)		2,001,696		2,001,830
Thunder Bay Funding LLC
2.167%, 1M LIBOR + 0.100%, 12/05/19 (g)		5,000,000		4,999,500
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (g)		2,000,000		2,000,298
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (g)		5,000,000		5,000,000
Westpac Banking Corp. 2.194%, 1M LIBOR + 0.150%, 05/29/20 (g)		4,999,383		4,997,445
				58,952,394
Repurchase Agreements—3.2%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,514,503; collateralized by various Common Stock with an aggregate market value of $2,750,000.		2,500,000		2,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $13,080,730; collateralized by various Common Stock with an aggregate market value of $14,301,468.		13,000,000		13,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $4,008,439; collateralized by various Common Stock with an aggregate market value of $4,400,000.		4,000,000		4,000,000
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $2,004,219; 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 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $2,161,322; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $2,204,396.		2,161,172		2,161,172
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $750,619; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $765,594.		750,582		750,582
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $6,071,890; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $6,586,011.		6,000,000		6,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $6,002,333; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $6,666,371.		6,000,000		6,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
				38,411,754
Time Deposit—0.4%
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
Total Securities Lending Reinvestments (Cost $321,310,126)				321,309,279
Total Purchased Options—0.2% (h) (Cost $4,944,929)				2,751,256
Total Investments—126.4% (Cost $1,420,639,945)				1,508,574,299
Other assets and liabilities (net)—(26.4)%				(314,783,152	)
Net Assets—100.0%			$	1,193,791,147

*	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 September 30, 2019, the market value of securities loaned was $320,426,240 and the collateral received consisted of cash in the amount of $321,133,389 and non-cash collateral with a value of $2,811,563. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2019, these securities represent 3.0% 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 September 30, 2019, the market value of restricted securities was $35,415,443, which is 3.0% 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)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.

BHFTI-254

Brighthouse Funds Trust I

Morgan Stanley Discovery Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

(g)

Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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
Agilon Health, Inc.		11/07/18		12,946	$	4,895,659	$	5,147,977
Airbnb, Inc. - Series D ,		04/16/14		188,136		7,659,587		24,655,223
Flipkart Escrow Receivable		08/20/18		60,812		—		155,679
Palantir Technologies, Inc. - Series G		07/19/12		541,563		1,657,183		3,319,780
Palantir Technologies, Inc. - Series H		10/25/13		174,289		611,754		1,068,392
Palantir Technologies, Inc. - Series H-1		10/25/13		174,289		611,754		1,068,392
							$	35,415,443

Purchased Options

Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Depreciation
USD Call/CNH Put		CNH	8.001		NWM		10/21/19		200,130,961		USD	200,130,961	$	1,176,770	$	200	$	(1,176,570	)
USD Call/CNH Put		CNH	7.847		NWM		06/16/20		272,016,650		USD	272,016,650		1,403,606		1,100,035		(303,571	)
USD Call/CNH Put		CNH	7.580		BNP		01/17/20		212,856,455		USD	212,856,455		1,089,641		507,450		(582,191	)
USD Call/CNH Put		CNH	8.093		NWM		09/21/20		236,226,164		USD	236,226,164		1,274,912		1,143,571		(131,341	)
Totals													$	4,944,929	$	2,751,256	$	(2,193,673	)

Glossary of Abbreviations

Counterparties

(BNP)—	BNP Paribas S.A.
(NWM)—	Natwest Markets plc

Currencies

(CNH)—	Chinese Renminbi
(USD)—	United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTI-255

Brighthouse Funds Trust I

Morgan Stanley Discovery Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	17,922,751	$	—		$	—	$	17,922,751
Biotechnology		38,592,962		—			—		38,592,962
Commercial Services & Supplies		81,419,240		—			—		81,419,240
Containers & Packaging		20,375,951		—			—		20,375,951
Diversified Consumer Services		34,410,883		—			—		34,410,883
Entertainment		51,628,320		—			—		51,628,320
Health Care Equipment & Supplies		61,058,954		—			—		61,058,954
Health Care Providers & Services		36,855,120		—			5,147,977		42,003,097
Health Care Technology		39,407,151		—			—		39,407,151
Hotels, Restaurants & Leisure		11,950,541		—			—		11,950,541
Household Durables		37,015,505		—			—		37,015,505
Interactive Media & Services		160,901,775		—			—		160,901,775
Internet & Direct Marketing Retail		82,136,596		—			—		82,136,596
IT Services		191,979,589		18,182,407			—		210,161,996
Leisure Products		24,390,975		—			—		24,390,975
Professional Services		21,724,482		—			—		21,724,482
Software		164,350,904		—			—		164,350,904
Specialty Retail		20,893,092		—			—		20,893,092
Total Common Stocks		1,097,014,791		18,182,407			5,147,977		1,120,345,175
Total Convertible Preferred Stock*		—		—			24,655,223		24,655,223
Total Preferred Stocks*		—		—			5,456,564		5,456,564
Total Escrow Shares*		—		—			155,679		155,679
Total Short-Term Investment*		—		33,901,123			—		33,901,123
Total Securities Lending Reinvestments*		—		321,309,279			—		321,309,279
Total Purchased Options*		—		2,751,256			—		2,751,256
Total Investments	$	1,097,014,791	$	376,144,065		$	35,415,443	$	1,508,574,299
Collateral for Securities Loaned (Liability)	$	—	$	(321,133,389	)	$	—	$	(321,133,389	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-256

Brighthouse Funds Trust I

Morgan Stanley Discovery Portfolio

Schedule of Investments as of September 30, 2019 (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, 2018		Change in Unrealized Appreciation/ (Depreciation)		Balance as of September 30, 2019		Change in Unrealized Appreciation/ (Depreciaton) from Investments Still Held at September 30, 2019
Common Stocks
Health Care Providers & Services	$	4,903,427	$	244,550	$	5,147,977	$	244,550
Convertible Preferred Stocks
Internet & Direct Marketing Retail		22,717,422		1,937,801		24,655,223		1,937,801
Preferred Stocks
Software		3,720,789		1,735,775		5,456,564		1,735,775
Escrow Shares
Internet & Direct Marketing Retail		155,679		—		155,679		—
Total	$	31,497,317	$	3,918,126	$	35,415,443	$	3,918,126

	Fair Value at September 30, 2019		Valuation Technique(s)		Unobservable Input		Range						Weighted Average			Relationship Between Fair Value and Input; if input value increases then Fair Value:
Common Stock
Healthcare Providers & Services	$	5,147,977		Discounted Cash Flow		Weighted Average Cost of Capital		13.50	%		15.50	%		14.50	%		Decrease
						Perpetual Growth Rate		3.00	%		4.00	%		3.50	%		Increase
				Comparable Company Analysis		Enterprise Value/Revenue		0.8x			0.8x			0.8x			Increase
						Discount for Lack of Marketability		10.00	%		10.00	%		10.00	%		Decrease
Convertible Preferred Stocks
Internet & Direct Marketing Retail		24,655,223		Discounted Cash Flow		Weighted Average Cost of Capital		13.00	%		15.00	%		14.00	%		Decrease
						Perpetual Growth Rate		3.00	%		4.00	%		3.50	%		Increase
				Comparable Company Analysis		Enterprise Value/Revenue		7.0x			7.0x			7.0x			Increase
						Discount for Lack of Marketability		9.00	%		9.00	%		9.00	%		Decrease
Preferred Stocks
Software		5,456,564		Discounted Cash Flow		Weighted Average Cost of Capital		13.50	%		15.50	%		14.50	%		Decrease
						Perpetual Growth Rate		3.00	%		4.00	%		3.50	%		Increase
				Comparable Company Analysis		Enterprise Value/Revenue		12.5x			12.5x			12.5x			Increase
						Discount for Lack of Marketability		17.00	%		17.00	%		17.00	%		Decrease
				Guideline Transactions		Enterprise Value/Revenue		15.0x			15.0x			15.0x			Increase
Escrow Shares
Internet & Direct Marketing Retail		155,679		Merger & Acquisition Transaction		Sale/Merger Senario	$	5.13		$	5.13		$	5.13			Increase
						Discount for Lack of Marketability		50.00	%		50.00	%		50.00	%		Decrease

BHFTI-257

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—15.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.2%
Arconic, Inc.		741	$	19,266
Boeing Co. (The)		71		27,013
Bombardier, Inc. - Class B (a)		5,055		6,830
Elbit Systems, Ltd.		591		97,956
General Dynamics Corp.		86		15,715
Huntington Ingalls Industries, Inc.		66		13,978
L3Harris Technologies, Inc.		120		25,037
Leonardo S.p.A.		2,639		31,071
Lockheed Martin Corp.		59		23,013
Northrop Grumman Corp.		68		25,486
Raytheon Co.		84		16,480
Safran S.A.		175		27,587
Thales S.A.		94		10,819
TransDigm Group, Inc.		24		12,496
United Technologies Corp.		219		29,898
				382,645
Air Freight & Logistics—0.0%
C.H. Robinson Worldwide, Inc.		211		17,889
Deutsche Post AG		1,006		33,603
DSV A/S		67		6,382
Expeditors International of Washington, Inc.		329		24,441
FedEx Corp.		94		13,684
Yamato Holdings Co., Ltd.		900		13,609
				109,608
Airlines—0.1%
Alaska Air Group, Inc.		228		14,800
American Airlines Group, Inc.		353		9,520
Delta Air Lines, Inc.		247		14,227
Singapore Airlines, Ltd.		7,600		50,313
Southwest Airlines Co.		310		16,743
United Airlines Holdings, Inc. (a)		260		22,987
				128,590
Auto Components—0.0%
Aptiv plc		206		18,008
BorgWarner, Inc.		411		15,075
Goodyear Tire & Rubber Co. (The)		673		9,695
Nokian Renkaat Oyj		1,636		46,190
Pirelli & C S.p.A.		2,736		16,214
				105,182
Automobiles—0.1%
Daimler AG		504		25,034
Ferrari NV		122		18,842
Fiat Chrysler Automobiles NV		1,935		25,072
Ford Motor Co.		1,063		9,737
General Motors Co.		445		16,679
Harley-Davidson, Inc.		557		20,035
Honda Motor Co., Ltd.		900		23,431
Suzuki Motor Corp.		200		8,495
				147,325
Banks—0.5%
ABN AMRO Bank NV		1,431		25,231
AIB Group plc		19,284		57,371
Australia & New Zealand Banking Group, Ltd.		1,521		29,392
Banco Bilbao Vizcaya Argentaria S.A.		3,372		17,593
Banco de Sabadell S.A.		17,800		17,293
Bank Hapoalim B.M. (a)		5,648		44,525
Bank Leumi Le-Israel B.M.		5,327		37,917
Bank of America Corp.		695		20,273
Bank of East Asia, Ltd. (The)		2,800		6,907
Bank of Ireland Group plc		8,019		31,871
Bank of Montreal		390		28,725
Bank of Nova Scotia (The)		409		23,231
Bankinter S.A.		3,025		19,125
BB&T Corp.		363		19,373
BOC Hong Kong Holdings, Ltd.		6,000		20,473
Canadian Imperial Bank of Commerce		295		24,340
Comerica, Inc.		216		14,254
Commonwealth Bank of Australia		486		26,594
Danske Bank A/S		6,068		84,477
DBS Group Holdings, Ltd.		1,200		21,628
DNB ASA		2,129		37,588
Erste Group Bank AG (a)		1,047		34,662
Fifth Third Bancorp		693		18,974
Fukuoka Financial Group, Inc.		400		7,607
Hang Seng Bank, Ltd.		1,000		21,635
Huntington Bancshares, Inc.		1,176		16,782
ING Groep NV		3,024		31,699
Intesa Sanpaolo S.p.A.		7,154		16,984
Israel Discount Bank, Ltd. - Class A		1,713		7,535
Japan Post Bank Co., Ltd.		2,200		21,384
KBC Group NV		629		40,931
KeyCorp		1,042		18,589
Mitsubishi UFJ Financial Group, Inc.		3,700		18,858
Mizrahi Tefahot Bank, Ltd.		747		18,569
Mizuho Financial Group, Inc.		19,500		29,982
People’s United Financial, Inc.		1,114		17,417
Raiffeisen Bank International AG		1,505		34,982
Regions Financial Corp.		1,152		18,225
Royal Bank of Canada		373		30,257
Skandinaviska Enskilda Banken AB - Class A		1,595		14,671
Sumitomo Mitsui Financial Group, Inc.		500		17,174
SunTrust Banks, Inc.		236		16,237
SVB Financial Group (a)		28		5,851
Toronto-Dominion Bank (The)		524		30,554
U.S. Bancorp		317		17,543
Zions Bancorp N.A.		255		11,353
				1,126,636
Beverages—0.4%
Anheuser-Busch InBev S.A.		683		65,022
Brown-Forman Corp. - Class B		771		48,403
Carlsberg A/S - Class B		474		70,132
Coca-Cola Amatil, Ltd.		9,344		67,237
Coca-Cola Co. (The)		744		40,503
Coca-Cola European Partners plc		632		35,044
Constellation Brands, Inc. - Class A		184		38,140

BHFTI-258

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Beverages—(Continued)
Davide Campari-Milano S.p.A.		6,720	$	60,763
Diageo plc		846		34,619
Heineken Holding NV		215		21,420
Heineken NV		359		38,820
Kirin Holdings Co., Ltd.		1,400		29,721
Molson Coors Brewing Co. - Class B		739		42,493
Monster Beverage Corp. (a)		704		40,874
PepsiCo, Inc.		297		40,719
Pernod-Ricard S.A.		215		38,274
Remy Cointreau S.A.		276		36,631
Suntory Beverage & Food, Ltd.		600		25,662
Treasury Wine Estates, Ltd.		3,729		46,805
				821,282
Biotechnology—0.2%
AbbVie, Inc.		212		16,053
Alexion Pharmaceuticals, Inc. (a)		119		11,655
Amgen, Inc.		95		18,384
BeiGene, Ltd. (ADR) (a)		379		46,412
Biogen, Inc. (a)		61		14,202
Celgene Corp. (a)		105		10,427
CSL, Ltd.		380		60,047
Genmab A/S (a)		404		82,118
Gilead Sciences, Inc.		214		13,563
Grifols S.A.		3,066		90,340
Incyte Corp. (a)		154		11,431
Regeneron Pharmaceuticals, Inc. (a)		31		8,599
Vertex Pharmaceuticals, Inc. (a)		89		15,078
				398,309
Building Products—0.1%
A.O. Smith Corp.		243		11,594
Allegion plc		164		16,999
Assa Abloy AB - Class B		828		18,445
Fortune Brands Home & Security, Inc.		362		19,801
Johnson Controls International plc		346		15,186
Kingspan Group plc		1,705		83,585
Masco Corp.		257		10,712
				176,322
Capital Markets—0.1%
Affiliated Managers Group, Inc.		109		9,085
Ameriprise Financial, Inc.		105		15,446
Bank of New York Mellon Corp. (The)		286		12,930
Cboe Global Markets, Inc.		158		18,156
CME Group, Inc.		120		25,361
Credit Suisse Group AG (a)		573		7,035
Daiwa Securities Group, Inc.		3,000		13,437
Deutsche Boerse AG		185		28,919
E*Trade Financial Corp.		295		12,889
Franklin Resources, Inc.		558		16,104
Intercontinental Exchange, Inc.		225		20,761
Invesco, Ltd.		1,040		17,618
Moody’s Corp.		68		13,928
Northern Trust Corp.		175		16,331
Capital Markets—(Continued)
Raymond James Financial, Inc.		184		15,173
S&P Global, Inc.		82		20,088
State Street Corp.		189		11,187
T. Rowe Price Group, Inc.		162		18,508
UBS Group AG (a)		1,516		17,234
				310,190
Chemicals—0.7%
Air Liquide S.A.		265		37,758
Air Products & Chemicals, Inc.		274		60,790
Air Water, Inc.		1,400		25,175
Akzo Nobel NV		892		79,577
Albemarle Corp.		430		29,894
Arkema S.A.		448		41,823
Celanese Corp.		185		22,624
CF Industries Holdings, Inc.		1,024		50,381
Chr Hansen Holding A/S		1,302		110,543
Clariant AG (a)		1,604		31,239
Corteva, Inc.		1,008		28,224
Croda International plc		383		22,899
Dow, Inc.		741		35,309
DuPont de Nemours, Inc.		370		26,385
Eastman Chemical Co.		434		32,042
Ecolab, Inc.		287		56,837
EMS-Chemie Holding AG		63		39,263
FMC Corp.		454		39,807
Givaudan S.A.		11		30,701
International Flavors & Fragrances, Inc.		253		31,036
Israel Chemicals, Ltd.		19,774		98,543
Johnson Matthey plc		683		25,695
JSR Corp.		1,400		22,546
Kaneka Corp.		200		6,274
Koninklijke DSM NV		596		71,693
Kuraray Co., Ltd.		1,200		14,844
Linde plc		274		53,079
Livent Corp. (a)		424		2,837
LyondellBasell Industries NV - Class A		401		35,877
Mitsubishi Gas Chemical Co., Inc.		800		10,753
Mosaic Co. (The)		1,543		31,631
Novozymes A/S - B Shares		1,753		73,698
Nutrien, Ltd.		368		18,333
PPG Industries, Inc.		292		34,605
Sherwin-Williams Co. (The)		95		52,238
Showa Denko KK		300		7,907
Sika AG		250		36,592
Solvay S.A.		499		51,741
Sumitomo Chemical Co., Ltd.		5,100		23,045
Symrise AG		171		16,619
Teijin, Ltd.		1,000		19,303
Toray Industries, Inc.		4,200		31,357
Umicore S.A.		1,422		53,729
Yara International ASA		1,023		44,134
				1,669,380

BHFTI-259

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Commercial Services & Supplies—0.1%
Brambles, Ltd.		4,765	$	36,710
Cintas Corp.		142		38,070
ISS A/S		1,043		25,810
Republic Services, Inc.		273		23,628
Waste Management, Inc.		249		28,635
				152,853
Communications Equipment—0.1%
Cisco Systems, Inc.		486		24,013
F5 Networks, Inc. (a)		147		20,642
Juniper Networks, Inc.		721		17,845
Motorola Solutions, Inc.		125		21,301
Nokia Oyj		22,138		112,190
Telefonaktiebolaget LM Ericsson - B Shares		9,383		74,995
				270,986
Construction & Engineering—0.0%
ACS Actividades de Construccion y Servicios S.A.		462		18,482
Ferrovial S.A.		334		9,650
Fluor Corp.		307		5,873
Jacobs Engineering Group, Inc.		214		19,581
Quanta Services, Inc.		327		12,361
SNC-Lavalin Group, Inc.		718		10,113
				76,060
Construction Materials—0.1%
CRH plc		1,687		57,903
Fletcher Building, Ltd.		23,801		76,666
HeidelbergCement AG		380		27,473
Imerys S.A.		163		6,559
LafargeHolcim, Ltd. (a)		321		15,820
Martin Marietta Materials, Inc.		171		46,871
Vulcan Materials Co.		350		52,934
				284,226
Consumer Finance—0.0%
Capital One Financial Corp.		134		12,192
Synchrony Financial		391		13,329
				25,521
Containers & Packaging—0.1%
AMCOR plc		3,253		31,717
Avery Dennison Corp.		416		47,245
Ball Corp.		461		33,565
CCL Industries, Inc. - Class B		650		26,219
International Paper Co.		780		32,619
Packaging Corp. of America		453		48,063
Sealed Air Corp.		917		38,065
Smurfit Kappa Group plc		1,821		54,169
WestRock Co.		847		30,873
				342,535
Distributors—0.1%
Genuine Parts Co.		133		13,245
Distributors—(Continued)
Jardine Cycle & Carriage, Ltd.		4,300		93,603
LKQ Corp. (a)		919		28,903
				135,751
Diversified Consumer Services—0.0%
Benesse Holdings, Inc.		500		13,032
H&R Block, Inc.		975		23,029
				36,061
Diversified Financial Services—0.1%
AMP, Ltd.		21,048		25,978
Berkshire Hathaway, Inc. - Class B (a)		88		18,306
Groupe Bruxelles Lambert S.A.		173		16,622
Industrivarden AB - C Shares		1,131		24,779
Investor AB - B Shares		527		25,776
Jefferies Financial Group, Inc.		764		14,058
Mitsubishi UFJ Lease & Finance Co., Ltd.		4,100		23,800
Wendel S.A.		193		26,649
				175,968
Diversified Telecommunication Services—0.9%
AT&T, Inc.		2,471		93,503
BCE, Inc.		1,630		78,839
BT Group plc		10,412		22,877
Cellnex Telecom S.A. (a)		1,541		63,656
CenturyLink, Inc.		5,797		72,346
Deutsche Telekom AG		2,760		46,334
Elisa Oyj		2,070		106,716
HKT Trust & HKT, Ltd.		98,000		155,814
Iliad S.A.		324		30,427
Koninklijke KPN NV		35,588		111,028
Nippon Telegraph & Telephone Corp.		900		43,046
Orange S.A.		1,826		28,662
PCCW, Ltd.		212,000		119,076
Proximus SADP		4,984		148,077
Singapore Telecommunications, Ltd.		34,000		76,348
Spark New Zealand, Ltd.		38,589		106,636
Swisscom AG		270		133,169
Telecom Italia S.p.A. (a)		107,435		61,363
Telefonica Deutschland Holding AG		11,785		32,855
Telefonica S.A.		9,530		72,771
Telenor ASA		4,341		87,102
Telia Co. AB		15,362		68,809
Telstra Corp., Ltd.		25,850		61,323
TELUS Corp.		1,830		65,128
TPG Telecom, Ltd.		10,360		48,606
United Internet AG		902		32,174
Verizon Communications, Inc.		1,233		74,424
				2,041,109
Electric Utilities—1.2%
Alliant Energy Corp.		1,562		84,239
American Electric Power Co., Inc.		709		66,426
AusNet Services		76,466		93,609
Chubu Electric Power Co., Inc.		2,300		33,313

BHFTI-260

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electric Utilities—(Continued)
Chugoku Electric Power Co., Inc. (The)		6,600	$	84,768
CK Infrastructure Holdings, Ltd.		7,665		51,411
CLP Holdings, Ltd.		13,000		136,119
Duke Energy Corp.		794		76,113
Edison International		848		63,956
EDP - Energias de Portugal S.A.		19,371		75,243
Electricite de France S.A.		6,962		77,913
Emera, Inc.		2,133		93,637
Endesa S.A.		2,625		69,060
Enel S.p.A.		10,788		80,607
Entergy Corp.		669		78,514
Evergy, Inc.		1,285		85,530
Eversource Energy		1,145		97,863
Exelon Corp.		1,190		57,489
FirstEnergy Corp.		1,539		74,226
Fortis, Inc.		2,497		105,564
Fortum Oyj		3,779		89,397
HK Electric Investments & HK Electric Investments, Ltd.		102,000		97,225
Hydro One, Ltd.		4,007		74,070
Iberdrola S.A.		4,169		43,325
Kansai Electric Power Co., Inc. (The)		4,000		44,736
Kyushu Electric Power Co., Inc.		4,200		39,645
NextEra Energy, Inc.		285		66,402
Orsted A/S		1,104		102,538
PG&E Corp. (a)		119		1,190
Pinnacle West Capital Corp.		908		88,140
Power Assets Holdings, Ltd.		16,000		107,540
PPL Corp.		2,238		70,475
Red Electrica Corp. S.A.		3,834		77,834
Southern Co. (The)		1,332		82,278
SSE plc		4,113		63,017
Terna Rete Elettrica Nazionale S.p.A.		11,902		76,438
Tohoku Electric Power Co., Inc.		4,100		40,119
Tokyo Electric Power Co. Holdings, Inc. (a)		6,400		31,333
Verbund AG		718		39,275
Xcel Energy, Inc.		1,254		81,372
				2,901,949
Electrical Equipment—0.1%
ABB, Ltd.		1,938		38,065
AMETEK, Inc.		263		24,148
Eaton Corp. plc		241		20,039
Emerson Electric Co.		316		21,128
Melrose Industries plc		7,129		17,661
Prysmian S.p.A.		1,871		40,214
Rockwell Automation, Inc.		79		13,019
Siemens Gamesa Renewable Energy S.A.		1,609		21,862
Vestas Wind Systems A/S		457		35,503
				231,639
Electronic Equipment, Instruments & Components—0.2%
Amphenol Corp. - Class A		286		27,599
Corning, Inc.		679		19,365
FLIR Systems, Inc.		418		21,983
Halma plc		1,644		39,831
Hamamatsu Photonics KK		500		18,703
Electronic Equipment, Instruments & Components—(Continued)
Hexagon AB - B Shares		989		47,789
Hirose Electric Co., Ltd.		210		25,908
Ingenico Group S.A.		498		48,619
IPG Photonics Corp. (a)		79		10,712
Keyence Corp.		26		16,199
TE Connectivity, Ltd.		255		23,761
Venture Corp., Ltd.		5,100		56,527
				356,996
Energy Equipment & Services—0.1%
Baker Hughes a GE Co.		1,571		36,447
Halliburton Co.		1,851		34,892
Helmerich & Payne, Inc.		969		38,828
John Wood Group plc		12,018		55,987
National Oilwell Varco, Inc.		1,069		22,663
Schlumberger, Ltd.		800		27,336
TechnipFMC plc		1,545		37,296
Tenaris S.A.		3,916		41,547
WorleyParsons, Ltd.		3,756		33,225
				328,221
Entertainment—0.1%
Activision Blizzard, Inc.		835		44,188
Electronic Arts, Inc. (a)		356		34,824
Konami Holdings Corp.		800		38,757
Netflix, Inc. (a)		110		29,438
Take-Two Interactive Software, Inc. (a)		293		36,725
Toho Co., Ltd.		1,000		43,937
UBISOFT Entertainment S.A. (a)		132		9,547
Viacom, Inc. - Class B		1,409		33,858
Walt Disney Co. (The)		409		53,301
				324,575
Equity Real Estate Investment Trusts—0.3%
Alexandria Real Estate Equities, Inc.		140		21,566
Apartment Investment & Management Co. - Class A		319		16,633
AvalonBay Communities, Inc.		72		15,504
CapitaLand Mall Trust		16,900		32,174
Covivio		212		22,437
Crown Castle International Corp.		30		4,170
Digital Realty Trust, Inc.		95		12,332
Duke Realty Corp.		426		14,471
Equinix, Inc.		22		12,690
Equity Residential		100		8,626
Essex Property Trust, Inc.		49		16,006
Extra Space Storage, Inc.		152		17,757
Federal Realty Investment Trust		179		24,369
Gecina S.A.		315		49,496
H&R Real Estate Investment Trust		1,522		26,572
HCP, Inc.		366		13,041
Host Hotels & Resorts, Inc.		799		13,815
Iron Mountain, Inc.		226		7,320
Japan Real Estate Investment Corp.		8		53,646
Japan Retail Fund Investment Corp.		9		19,029
Kimco Realty Corp.		1,261		26,330

BHFTI-261

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Klepierre SA		940	$	31,919
Mid-America Apartment Communities, Inc.		203		26,392
Mirvac Group		7,066		14,614
Nippon Building Fund, Inc.		2		15,358
Nippon Prologis REIT, Inc.		14		38,339
ProLogis, Inc.		224		19,089
Public Storage		65		15,942
Realty Income Corp.		177		13,572
Regency Centers Corp.		217		15,079
Scentre Group		5,107		13,560
SL Green Realty Corp.		119		9,728
UDR, Inc.		346		16,774
Ventas, Inc.		243		17,746
Vornado Realty Trust		240		15,281
Welltower, Inc.		160		14,504
Weyerhaeuser Co.		560		15,512
				721,393
Food & Staples Retailing—0.6%
Alimentation Couche-Tard, Inc. - Class B		1,780		54,548
Carrefour S.A.		1,680		29,402
Casino Guichard Perrachon S.A.		426		20,327
Coles Group, Ltd.		1,551		16,141
Colruyt S.A.		2,218		121,535
Costco Wholesale Corp.		182		52,436
Dairy Farm International Holdings, Ltd.		16,891		106,477
Empire Co., Ltd.		3,465		93,814
FamilyMart Co., Ltd.		1,400		34,252
George Weston, Ltd.		693		58,302
ICA Gruppen AB		2,752		127,165
J Sainsbury plc		8,471		22,893
Jeronimo Martins SGPS S.A.		2,166		36,539
Koninklijke Ahold Delhaize NV		1,922		48,080
Kroger Co. (The)		1,556		40,114
Lawson, Inc.		1,300		66,591
Loblaw Cos., Ltd.		1,379		78,544
METRO AG		2,862		45,158
Metro, Inc.		2,765		121,736
Sysco Corp.		505		40,097
Walgreens Boots Alliance, Inc.		574		31,748
Walmart, Inc.		388		46,048
Welcia Holdings Co., Ltd.		300		15,154
WM Morrison Supermarkets plc		7,958		19,599
Woolworths Group, Ltd.		2,923		73,643
				1,400,343
Food Products—0.8%
a2 Milk Co., Ltd. (a)		7,185		59,690
Ajinomoto Co., Inc.		2,200		41,624
Archer-Daniels-Midland Co.		1,055		43,329
Associated British Foods plc		716		20,271
Barry Callebaut AG		31		64,035
Campbell Soup Co.		1,398		65,594
Chocoladefabriken Lindt & Spruengli AG		1		82,760
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		8		59,071
Conagra Brands, Inc.		1,452		44,547
Food Products—(Continued)
Danone S.A.		490		43,157
General Mills, Inc.		1,195		65,868
Golden Agri-Resources, Ltd.		476,800		77,756
Hershey Co. (The)		442		68,506
Hormel Foods Corp.		1,248		54,575
J.M. Smucker Co. (The)		502		55,230
Kellogg Co.		794		51,094
Kerry Group plc - Class A		863		101,295
Kikkoman Corp.		400		19,203
Kraft Heinz Co. (The)		1,180		32,963
Lamb Weston Holdings, Inc.		472		34,324
McCormick & Co., Inc.		374		58,456
Mondelez International, Inc. - Class A		799		44,201
Mowi ASA		3,999		92,261
Nestle S.A.		600		65,085
NH Foods, Ltd.		500		20,107
Nissin Foods Holdings Co., Ltd.		500		36,239
Orkla ASA		12,622		114,920
Saputo, Inc.		1,561		47,978
Toyo Suisan Kaisha, Ltd.		900		36,067
Tyson Foods, Inc. - Class A		624		53,751
Vitasoy International Holdings, Ltd.		12,000		48,654
WH Group, Ltd.		58,500		52,938
Wilmar International, Ltd.		18,800		50,854
Yamazaki Baking Co., Ltd.		891		15,899
				1,822,302
Gas Utilities—0.3%
AltaGas, Ltd.		1,706		25,046
APA Group		9,853		76,319
Atmos Energy Corp.		344		39,178
Enagas S.A.		3,830		88,815
Hong Kong & China Gas Co., Ltd.		26,323		51,127
Naturgy Energy Group S.A.		1,368		36,291
Osaka Gas Co., Ltd.		2,600		49,912
Snam S.p.A.		19,032		96,226
Toho Gas Co., Ltd.		1,500		57,556
Tokyo Gas Co., Ltd.		3,900		98,601
				619,071
Health Care Equipment & Supplies—0.4%
Abbott Laboratories		332		27,778
ABIOMED, Inc. (a)		84		14,943
Alcon, Inc. (a)		527		30,757
Align Technology, Inc. (a)		97		17,549
Baxter International, Inc.		327		28,603
Becton Dickinson & Co.		118		29,849
BioMerieux		639		52,887
Boston Scientific Corp. (a)		655		26,652
Carl Zeiss Meditec AG		177		20,168
Cochlear, Ltd.		346		48,688
Coloplast A/S - Class B		468		56,419
Cooper Cos., Inc. (The)		85		25,245
Demant A/S (a)		990		25,384
DENTSPLY SIRONA, Inc.		281		14,980
Edwards Lifesciences Corp. (a)		178		39,144

BHFTI-262

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Equipment & Supplies—(Continued)
Fisher & Paykel Healthcare Corp., Ltd.		8,640	$	93,351
Hologic, Inc. (a)		441		22,266
IDEXX Laboratories, Inc. (a)		65		17,675
Intuitive Surgical, Inc. (a)		36		19,437
Koninklijke Philips NV		1,019		47,235
Medtronic plc		184		19,986
Siemens Healthineers AG		985		38,751
Smith & Nephew plc		4,107		98,930
Sonova Holding AG		172		39,999
Straumann Holding AG		36		29,445
Stryker Corp.		116		25,091
Terumo Corp.		1,200		38,659
Varian Medical Systems, Inc. (a)		180		21,436
Zimmer Biomet Holdings, Inc.		155		21,277
				992,584
Health Care Providers & Services—0.3%
Alfresa Holdings Corp.		1,000		22,437
AmerisourceBergen Corp.		202		16,631
Anthem, Inc.		56		13,446
Cardinal Health, Inc.		267		12,600
Centene Corp. (a)		230		9,950
Cigna Corp.		38		5,768
CVS Health Corp.		449		28,318
DaVita, Inc. (a)		248		14,153
Fresenius Medical Care AG & Co. KGaA		561		37,703
Fresenius SE & Co. KGaA		210		9,818
HCA Healthcare, Inc.		130		15,655
Henry Schein, Inc. (a)		254		16,129
Humana, Inc.		62		15,852
IQVIA Holdings, Inc. (a)		85		12,697
Laboratory Corp. of America Holdings (a)		149		25,032
McKesson Corp.		99		13,529
Medipal Holdings Corp.		1,400		31,298
NMC Health plc		1,427		47,530
Quest Diagnostics, Inc.		205		21,941
Ramsay Health Care, Ltd.		1,630		71,447
Ryman Healthcare, Ltd.		4,929		40,946
Sonic Healthcare, Ltd.		2,884		54,733
Suzuken Co., Ltd.		400		21,585
UnitedHealth Group, Inc.		80		17,386
Universal Health Services, Inc. - Class B		172		25,585
WellCare Health Plans, Inc. (a)		53		13,736
				615,905
Health Care Technology—0.0%
Cerner Corp.		294		20,042
M3, Inc.		1,200		29,057
				49,099
Hotels, Restaurants & Leisure—0.3%
Aristocrat Leisure, Ltd.		2,119		43,940
Carnival Corp.		294		12,851
Carnival plc		434		17,989
Chipotle Mexican Grill, Inc. (a)		26		21,852
Hotels, Restaurants & Leisure—(Continued)
Compass Group plc		1,440		37,051
Darden Restaurants, Inc.		178		21,043
Flight Centre Travel Group, Ltd.		962		30,945
Flutter Entertainment plc		1,991		186,191
Genting Singapore, Ltd.		101,900		64,902
Hilton Worldwide Holdings, Inc.		113		10,521
Marriott International, Inc. - Class A		134		16,666
McDonald’s Corp.		115		24,692
MGM China Holdings, Ltd.		11,200		17,609
MGM Resorts International		762		21,123
Norwegian Cruise Line Holdings, Ltd. (a)		362		18,741
Restaurant Brands International, Inc.		628		44,652
Royal Caribbean Cruises, Ltd.		158		17,116
Shangri-La Asia, Ltd.		26,000		26,584
Sodexo S.A.		204		22,916
Starbucks Corp.		162		14,324
Tabcorp Holdings, Ltd.		12,221		40,034
Wynn Macau, Ltd.		9,200		18,088
Wynn Resorts, Ltd.		123		13,372
Yum! Brands, Inc.		224		25,408
				768,610
Household Durables—0.1%
Berkeley Group Holdings plc		756		38,845
Electrolux AB - Series B		2,356		55,907
Husqvarna AB - B Shares		7,034		53,572
Leggett & Platt, Inc.		585		23,950
Lennar Corp. - Class A		566		31,611
Mohawk Industries, Inc. (a)		158		19,603
Newell Brands, Inc.		1,144		21,416
PulteGroup, Inc.		885		32,347
Rinnai Corp.		200		13,514
Sekisui Chemical Co., Ltd.		1,100		17,146
Whirlpool Corp.		210		33,255
				341,166
Household Products—0.2%
Church & Dwight Co., Inc.		671		50,486
Clorox Co. (The)		330		50,117
Colgate-Palmolive Co.		615		45,209
Essity AB - Class B		1,755		51,206
Henkel AG & Co. KGaA		591		54,124
Kimberly-Clark Corp.		374		53,127
Procter & Gamble Co. (The)		415		51,618
Spectrum Brands Holdings, Inc.		19		1,007
				356,894
Independent Power and Renewable Electricity Producers—0.1%
AES Corp.		3,683		60,180
Electric Power Development Co., Ltd.		1,700		38,935
Meridian Energy, Ltd.		27,720		90,277
NRG Energy, Inc.		1,299		51,440
Uniper SE		1,978		64,863
				305,695

BHFTI-263

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Industrial Conglomerates—0.1%
3M Co.		82	$	13,481
General Electric Co.		1,309		11,702
Jardine Matheson Holdings, Ltd.		800		42,909
Jardine Strategic Holdings, Ltd.		1,000		29,938
Keppel Corp., Ltd.		7,100		30,555
NWS Holdings, Ltd.		16,000		24,805
Roper Technologies, Inc.		75		26,745
Smiths Group plc		1,278		24,662
				204,797
Insurance—0.4%
Admiral Group plc		561		14,613
Aegon NV		5,532		23,006
Aflac, Inc.		367		19,202
Ageas		671		37,237
Allianz SE		121		28,217
American International Group, Inc.		258		14,371
Aon plc		120		23,228
Arthur J. Gallagher & Co.		34		3,045
Assurant, Inc.		156		19,628
Chubb, Ltd.		124		20,019
Cincinnati Financial Corp.		187		21,817
Dai-ichi Life Holdings, Inc.		400		6,079
Everest Re Group, Ltd.		65		17,296
Fairfax Financial Holdings, Ltd.		18		7,935
Gjensidige Forsikring ASA		3,188		63,268
Globe Life, Inc.		194		18,577
Hannover Rueck SE		109		18,435
Hartford Financial Services Group, Inc. (The)		341		20,668
Japan Post Holdings Co., Ltd.		1,800		16,623
Lincoln National Corp.		200		12,064
Manulife Financial Corp.		1,399		25,660
Marsh & McLennan Cos., Inc.		217		21,711
NN Group NV		892		31,667
Poste Italiane S.p.A.		1,605		18,269
Principal Financial Group, Inc.		264		15,085
Progressive Corp. (The)		304		23,484
Prudential Financial, Inc.		155		13,942
Sampo Oyj - A Shares		1,547		61,544
SCOR SE		234		9,670
Sony Financial Holdings, Inc.		500		10,890
Swiss Life Holding AG		40		19,117
T&D Holdings, Inc.		1,400		14,949
Tokio Marine Holdings, Inc.		500		26,845
Travelers Cos., Inc. (The)		119		17,694
Tryg A/S		3,112		89,177
Unum Group		352		10,461
				815,493
Interactive Media & Services—0.1%
Alphabet, Inc. - Class A (a)		19		23,202
Alphabet, Inc. - Class C (a)		23		28,037
Auto Trader Group plc		4,318		27,072
Facebook, Inc. - Class A (a)		203		36,150
REA Group, Ltd.		1,082		79,357
TripAdvisor, Inc. (a)		1,296		50,129
Interactive Media & Services—(Continued)
Twitter, Inc. (a)		943		38,852
Yahoo Japan Corp.		5,800		16,411
				299,210
Internet & Direct Marketing Retail—0.1%
Amazon.com, Inc. (a)		9		15,623
Booking Holdings, Inc. (a)		8		15,701
Delivery Hero AG (a)		374		16,614
eBay, Inc.		633		24,674
Expedia Group, Inc.		147		19,758
Zalando SE (a)		567		25,878
				118,248
IT Services—0.4%
Accenture plc - Class A		119		22,890
Adyen NV (a)		54		35,605
Akamai Technologies, Inc. (a)		235		21,474
Alliance Data Systems Corp.		84		10,763
Amadeus IT Group S.A.		817		58,590
Atos SE		540		38,113
Automatic Data Processing, Inc.		159		25,666
Capgemini SE		346		40,813
CGI, Inc. (a)		1,163		91,962
Cognizant Technology Solutions Corp. - Class A		236		14,223
Computershare, Ltd.		5,091		55,838
DXC Technology Co.		262		7,729
Fidelity National Information Services, Inc.		196		26,021
Fiserv, Inc. (a)		322		33,356
Global Payments, Inc.		261		41,499
International Business Machines Corp.		103		14,978
MasterCard, Inc. - Class A		94		25,528
Nomura Research Institute, Ltd.		1,800		35,940
NTT Data Corp.		2,000		25,942
Obic Co., Ltd.		300		34,332
Paychex, Inc.		297		24,583
PayPal Holdings, Inc. (a)		208		21,547
Shopify, Inc. - Class A (a)		157		48,859
VeriSign, Inc. (a)		100		18,863
Visa, Inc. - Class A		130		22,361
Western Union Co. (The)		937		21,710
Wirecard AG		510		81,505
Wix.com, Ltd. (a)		452		52,767
Worldline S.A. (a)		216		13,643
				967,100
Leisure Products—0.0%
Bandai Namco Holdings, Inc.		500		31,150
Hasbro, Inc.		140		16,616
Mattel, Inc. (a)		1,084		12,347
Sankyo Co., Ltd.		700		24,145
				84,258
Life Sciences Tools & Services—0.1%
Agilent Technologies, Inc.		374		28,660
Eurofins Scientific SE		66		30,702

BHFTI-264

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Life Sciences Tools & Services—(Continued)
Illumina, Inc. (a)		54	$	16,428
Lonza Group AG (a)		81		27,409
PerkinElmer, Inc.		295		25,125
QIAGEN NV (a)		948		31,038
Sartorius Stedim Biotech		127		17,769
Thermo Fisher Scientific, Inc.		100		29,127
Waters Corp. (a)		104		23,216
				229,474
Machinery—0.3%
Andritz AG		1,290		52,765
Caterpillar, Inc.		163		20,589
CNH Industrial NV		2,509		25,585
Cummins, Inc.		142		23,099
Daifuku Co., Ltd.		200		10,408
Dover Corp.		246		24,492
Epiroc AB - Class A		2,259		24,525
Flowserve Corp.		254		11,864
Hitachi Construction Machinery Co., Ltd.		600		14,579
Ingersoll-Rand plc		162		19,960
Kawasaki Heavy Industries, Ltd.		400		8,915
Kone Oyj - Class B		580		33,039
Kurita Water Industries, Ltd.		900		24,236
Metso Oyj		803		29,983
Nabtesco Corp.		400		12,505
Parker-Hannifin Corp.		111		20,048
Pentair plc		240		9,072
Sandvik AB		1,192		18,563
Schindler Holding AG		145		32,331
SKF AB - B Shares		1,179		19,511
Snap-on, Inc.		113		17,689
Stanley Black & Decker, Inc.		134		19,351
Sumitomo Heavy Industries, Ltd.		740		22,086
Techtronic Industries Co., Ltd.		2,500		17,545
Volvo AB - B Shares		1,271		17,873
Wartsila Oyj Abp		2,478		27,797
Xylem, Inc.		298		23,727
				582,137
Marine—0.0%
AP Moller - Maersk A/S - Class A		25		26,728
AP Moller - Maersk A/S - Class B		15		17,007
Kuehne & Nagel International AG		191		28,151
				71,886
Media—0.4%
Axel Springer SE (a)		425		29,182
CBS Corp. - Class B		734		29,632
Charter Communications, Inc. - Class A (a)		89		36,679
Comcast Corp. - Class A		666		30,023
CyberAgent, Inc.		600		23,181
Discovery, Inc. - Class A (a)		1,205		32,089
Discovery, Inc. - Class C (a)		393		9,676
DISH Network Corp. - Class A (a)		1,108		37,750
Eutelsat Communications S.A.		2,603		48,468
Media—(Continued)
Fox Corp. - Class A		894		28,192
Fox Corp. - Class B		923		29,111
Informa plc		4,220		44,199
Interpublic Group of Cos., Inc. (The)		2,028		43,724
News Corp. - Class A		1,312		18,263
News Corp. - Class B		3,370		48,174
Omnicom Group, Inc.		483		37,819
Pearson plc		4,282		38,816
Quebecor, Inc. - Class B		1,518		34,465
RTL Group S.A.		544		26,184
Schibsted ASA - B Shares		2,815		78,965
SES S.A.		1,808		32,974
Shaw Communications, Inc. - Class B		2,627		51,614
Singapore Press Holdings, Ltd.		56,200		84,790
Telenet Group Holding NV		2,412		113,854
				987,824
Metals & Mining—0.2%
Agnico Eagle Mines, Ltd.		631		33,816
Anglo American plc		865		19,927
Antofagasta plc		2,184		24,191
ArcelorMittal		1,441		20,312
BHP Group plc		1,086		23,226
BHP Group, Ltd.		451		11,166
Boliden AB		2,040		46,941
Evraz plc		2,698		15,525
Freeport-McMoRan, Inc.		3,691		35,323
Fresnillo plc		2,227		18,738
Hitachi Metals, Ltd.		1,500		16,291
Maruichi Steel Tube, Ltd.		200		5,310
Newmont Goldcorp Corp.		1,558		59,079
Nippon Steel Corp.		700		9,811
Norsk Hydro ASA		8,844		31,221
Nucor Corp.		593		30,190
Rio Tinto plc		480		24,932
Voestalpine AG		840		19,330
Wheaton Precious Metals Corp.		1,168		30,627
				475,956
Multi-Utilities—0.6%
AGL Energy, Ltd.		6,129		79,207
Ameren Corp.		966		77,328
Atco, Ltd. - Class I		1,545		56,536
Canadian Utilities, Ltd. - Class A		2,105		62,045
CenterPoint Energy, Inc.		2,614		78,891
Centrica plc		52,279		47,398
CMS Energy Corp.		1,205		77,060
Consolidated Edison, Inc.		792		74,820
Dominion Energy, Inc.		1,488		120,588
DTE Energy Co.		593		78,845
E.ON SE		6,340		61,614
Engie S.A.		3,624		59,208
National Grid plc		7,406		80,301
NiSource, Inc.		2,565		76,745
Public Service Enterprise Group, Inc.		1,131		70,212

BHFTI-265

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Multi-Utilities—(Continued)
RWE AG		2,029	$	63,486
Sempra Energy		467		68,934
Suez		5,577		87,711
Veolia Environnement S.A.		3,081		78,161
WEC Energy Group, Inc.		955		90,821
				1,489,911
Multiline Retail—0.2%
Canadian Tire Corp., Ltd. - Class A		533		59,811
Dollar General Corp.		30		4,768
Dollar Tree, Inc. (a)		182		20,777
Dollarama, Inc.		1,334		47,758
Harvey Norman Holdings, Ltd.		10,455		31,999
Isetan Mitsukoshi Holdings, Ltd.		1,200		9,612
Kohl’s Corp.		254		12,614
Macy’s, Inc.		1,259		19,565
Marks & Spencer Group plc		9,660		21,907
Nordstrom, Inc.		571		19,226
Pan Pacific International Holdings Corp.		2,700		45,082
Target Corp.		251		26,834
Wesfarmers, Ltd.		1,351		36,347
				356,300
Oil, Gas & Consumable Fuels—1.0%
Aker BP ASA		1,076		28,673
Apache Corp.		1,581		40,474
BP plc		13,032		82,396
Cabot Oil & Gas Corp.		1,726		30,326
Caltex Australia, Ltd.		4,131		73,673
Cameco Corp.		3,368		31,981
Canadian Natural Resources, Ltd.		1,208		32,141
Chevron Corp.		314		37,240
Cimarex Energy Co.		920		44,105
Concho Resources, Inc.		469		31,845
ConocoPhillips		517		29,459
Devon Energy Corp.		1,334		32,096
Diamondback Energy, Inc.		328		29,490
Enbridge, Inc.		965		33,870
Encana Corp.		2,711		12,471
Eni S.p.A.		4,165		63,611
EOG Resources, Inc.		347		25,754
Equinor ASA		2,747		52,107
Exxon Mobil Corp.		509		35,941
Galp Energia SGPS S.A.		4,204		63,235
Hess Corp.		588		35,562
HollyFrontier Corp.		703		37,709
Idemitsu Kosan Co., Ltd.		2,976		83,690
Imperial Oil, Ltd.		343		8,932
Inpex Corp.		8,300		75,713
Inter Pipeline, Ltd.		3,367		59,088
JXTG Holdings, Inc.		19,100		86,634
Keyera Corp.		695		16,876
Kinder Morgan, Inc.		1,803		37,160
Koninklijke Vopak NV		1,770		90,884
Lundin Petroleum AB		1,639		49,030
Marathon Oil Corp.		2,290		28,098
Oil, Gas & Consumable Fuels—(Continued)
Marathon Petroleum Corp.		684		41,553
Neste Oyj		2,661		87,923
Noble Energy, Inc.		1,430		32,118
Occidental Petroleum Corp.		865		38,467
Oil Search, Ltd.		9,224		45,792
OMV AG		1,385		74,199
ONEOK, Inc.		658		48,488
Origin Energy, Ltd.		8,715		47,160
Pembina Pipeline Corp.		267		9,897
Phillips 66		339		34,714
Pioneer Natural Resources Co.		229		28,801
Repsol S.A.		4,048		63,142
Royal Dutch Shell plc - B Shares		2,515		73,883
Santos, Ltd.		6,898		36,164
Suncor Energy, Inc.		602		18,989
TC Energy Corp.		229		11,857
Total S.A.		1,507		78,454
Tourmaline Oil Corp.		1,730		17,119
Valero Energy Corp.		399		34,011
Washington H Soul Pattinson & Co., Ltd.		5,573		79,159
Williams Cos., Inc. (The)		1,919		46,171
Woodside Petroleum, Ltd.		2,812		61,726
				2,430,051
Paper & Forest Products—0.0%
OJI Holdings Corp.		500		2,347
Stora Enso Oyj - R Shares		3,567		43,023
UPM-Kymmene Oyj		1,636		48,414
				93,784
Personal Products—0.1%
Beiersdorf AG		731		86,250
Coty, Inc. - Class A		3,524		37,037
Estee Lauder Cos., Inc. (The) - Class A		295		58,690
L’Oreal S.A.		140		39,229
Unilever NV		353		21,211
Unilever plc		618		37,160
				279,577
Pharmaceuticals—0.5%
Allergan plc		110		18,512
AstraZeneca plc		883		78,467
Aurora Cannabis, Inc. (a)		4,327		19,008
Bausch Health Cos., Inc. (a)		1,898		41,403
Bayer AG		246		17,345
Bristol-Myers Squibb Co.		248		12,576
Canopy Growth Corp. (a)		597		13,676
Cronos Group, Inc. (a)		1,905		17,212
Daiichi Sankyo Co., Ltd.		400		25,226
Eisai Co., Ltd.		600		30,644
Eli Lilly & Co.		166		18,564
GlaxoSmithKline plc		3,007		64,367
H Lundbeck A/S		1,279		42,437
Ipsen S.A.		413		39,202
Johnson & Johnson		142		18,372

BHFTI-266

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Pharmaceuticals—(Continued)
Merck & Co., Inc.		311	$	26,180
Merck KGaA		442		49,806
Mitsubishi Tanabe Pharma Corp.		2,800		30,830
Mylan NV (a)		704		13,925
Nektar Therapeutics (a)		643		11,712
Novartis AG		426		36,983
Novo Nordisk A/S - Class B		799		41,256
Orion Oyj - Class B		2,387		89,016
Otsuka Holdings Co., Ltd.		900		33,664
Perrigo Co. plc		347		19,394
Pfizer, Inc.		475		17,067
Recordati S.p.A.		1,997		85,718
Roche Holding AG		178		51,909
Sanofi		439		40,708
Sumitomo Dainippon Pharma Co., Ltd.		1,600		26,443
Takeda Pharmaceutical Co., Ltd.		938		32,138
Teva Pharmaceutical Industries, Ltd. (ADR) (a)		5,138		35,349
UCB S.A.		858		62,303
Vifor Pharma AG		230		36,769
Zoetis, Inc.		294		36,629
				1,234,810
Professional Services—0.1%
Equifax, Inc.		97		13,645
Experian plc		594		18,977
Nielsen Holdings plc		377		8,011
Randstad NV		972		47,750
Robert Half International, Inc.		330		18,368
Seek, Ltd.		2,171		31,512
SGS S.A.		12		29,738
Thomson Reuters Corp.		138		9,224
Verisk Analytics, Inc.		157		24,828
Wolters Kluwer NV		453		33,086
				235,139
Real Estate Management & Development—0.1%
Aeon Mall Co., Ltd.		1,000		15,836
Aroundtown S.A.		3,617		29,584
Azrieli Group, Ltd.		378		29,688
CBRE Group, Inc. - Class A (a)		363		19,243
City Developments, Ltd.		2,900		20,671
Deutsche Wohnen SE		1,398		51,050
Mitsubishi Estate Co., Ltd.		1,000		19,363
Swiss Prime Site AG (a)		396		38,775
Vonovia SE		552		28,002
Wharf Holdings, Ltd. (The)		3,000		6,567
Wharf Real Estate Investment Co., Ltd.		2,000		10,965
				269,744
Road & Rail—0.1%
Aurizon Holdings, Ltd.		8,386		33,431
Canadian National Railway Co.		446		40,047
Canadian Pacific Railway, Ltd.		158		35,112
ComfortDelGro Corp., Ltd.		14,400		25,044
CSX Corp.		245		16,971
Road & Rail—(Continued)
J.B. Hunt Transport Services, Inc.		132		14,606
Kansas City Southern		206		27,400
MTR Corp., Ltd.		7,500		41,888
Odakyu Electric Railway Co., Ltd.		1,100		26,431
Union Pacific Corp.		164		26,565
				287,495
Semiconductors & Semiconductor Equipment—0.2%
Advanced Micro Devices, Inc. (a)		283		8,204
Analog Devices, Inc.		254		28,379
ASM Pacific Technology, Ltd.		3,800		46,682
ASML Holding NV		236		58,576
Broadcom, Inc.		57		15,736
Infineon Technologies AG		2,793		50,207
Microchip Technology, Inc.		245		22,763
Micron Technology, Inc. (a)		254		10,884
NVIDIA Corp.		83		14,448
NXP Semiconductors NV		743		81,076
Qorvo, Inc. (a)		209		15,495
QUALCOMM, Inc.		236		18,002
Skyworks Solutions, Inc.		204		16,167
STMicroelectronics NV		1,570		30,420
Texas Instruments, Inc.		219		28,304
Xilinx, Inc.		80		7,672
				453,015
Software—0.4%
Adobe, Inc. (a)		93		25,691
Autodesk, Inc. (a)		112		16,542
Blackberry, Ltd. (a)		3,332		17,454
Check Point Software Technologies, Ltd. (a)		774		84,753
Citrix Systems, Inc.		160		15,443
Constellation Software, Inc.		72		71,908
CyberArk Software, Ltd. (a)		347		34,637
Dassault Systemes SE		307		43,734
Intuit, Inc.		118		31,381
Micro Focus International plc		1,976		27,878
Microsoft Corp.		208		28,918
Nice, Ltd. (a)		834		120,063
Open Text Corp.		1,969		80,315
Oracle Corp.		419		23,058
Oracle Corp. Japan		300		26,154
Sage Group plc (The)		7,535		64,105
SAP SE		593		69,716
Symantec Corp.		778		18,384
Synopsys, Inc. (a)		278		38,155
Temenos AG (a)		351		58,821
				897,110
Specialty Retail—0.2%
ABC-Mart, Inc.		300		19,074
Advance Auto Parts, Inc.		47		7,774
AutoZone, Inc. (a)		19		20,608
Best Buy Co., Inc.		298		20,559
CarMax, Inc. (a)		115		10,120

BHFTI-267

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Specialty Retail—(Continued)
Dufry AG (a)		555	$	46,465
Foot Locker, Inc.		331		14,286
Gap, Inc. (The)		1,003		17,412
Hennes & Mauritz AB - B Shares		3,335		64,721
Industria de Diseno Textil S.A.		2,711		83,977
Kingfisher plc		9,450		24,023
L Brands, Inc.		745		14,594
Nitori Holdings Co., Ltd.		100		14,631
O’Reilly Automotive, Inc. (a)		47		18,730
Ross Stores, Inc.		286		31,417
Shimamura Co., Ltd.		100		7,950
Tiffany & Co.		144		13,339
TJX Cos., Inc. (The)		422		23,522
Tractor Supply Co.		276		24,961
Ulta Salon Cosmetics & Fragrance, Inc. (a)		70		17,545
USS Co., Ltd.		1,200		23,405
Yamada Denki Co., Ltd.		4,100		19,843
				538,956
Technology Hardware, Storage & Peripherals—0.1%
Canon, Inc.		1,200		32,035
FUJIFILM Holdings Corp.		700		30,849
HP, Inc.		794		15,022
NetApp, Inc.		274		14,388
Seagate Technology plc		371		19,956
Western Digital Corp.		232		13,836
Xerox Holdings Corp.		190		5,683
				131,769
Textiles, Apparel & Luxury Goods—0.3%
adidas AG		80		24,898
Capri Holdings, Ltd. (a)		478		15,850
Cie Financiere Richemont S.A.		805		59,161
EssilorLuxottica S.A.		236		34,045
Gildan Activewear, Inc.		1,547		54,904
Hanesbrands, Inc.		1,640		25,125
Hermes International		48		33,200
Moncler S.p.A.		740		26,396
NIKE, Inc. - Class B		289		27,143
Pandora A/S		2,029		81,539
PVH Corp.		170		14,999
Ralph Lauren Corp.		192		18,330
Swatch Group AG (The) - Bearer Shares		202		53,717
Tapestry, Inc.		612		15,943
Under Armour, Inc. - Class A (a)		995		19,840
Under Armour, Inc. - Class C (a)		217		3,934
VF Corp.		341		30,346
Yue Yuen Industrial Holdings, Ltd.		15,842		43,483
				582,853
Tobacco—0.1%
Altria Group, Inc.		744		30,430
Imperial Brands plc		882		19,813
Japan Tobacco, Inc.		1,200		26,295
Tobacco—(Continued)
Philip Morris International, Inc.		407		30,904
Swedish Match AB		1,161		48,028
				155,470
Trading Companies & Distributors—0.1%
AerCap Holdings NV (a)		788		43,143
Brenntag AG		505		24,439
Fastenal Co.		698		22,804
Ferguson plc		402		29,370
Marubeni Corp.		3,300		22,026
United Rentals, Inc. (a)		70		8,725
WW Grainger, Inc.		73		21,692
				172,199
Transportation Infrastructure—0.1%
Aena SME S.A.		150		27,491
Aeroports de Paris		108		19,208
Atlantia S.p.A.		929		22,494
Auckland International Airport, Ltd.		10,663		60,958
Fraport AG Frankfurt Airport Services Worldwide		433		36,726
SATS, Ltd.		7,500		26,306
Sydney Airport		7,916		42,972
Transurban Group		4,836		48,005
				284,160
Water Utilities—0.1%
American Water Works Co., Inc.		434		53,916
Severn Trent plc		2,194		58,426
United Utilities Group plc		5,978		60,677
				173,019
Wireless Telecommunication Services—0.2%
1&1 Drillisch AG		789		24,592
KDDI Corp.		1,600		41,824
Millicom International Cellular S.A.		906		43,954
NTT DoCoMo, Inc.		1,800		45,962
Rogers Communications, Inc. - Class B		1,323		64,440
SoftBank Group Corp.		400		15,711
T-Mobile U.S., Inc. (a)		402		31,666
Tele2 AB - B Shares		4,002		59,517
Vodafone Group plc		16,068		31,999
				359,665
Total Common Stocks (Cost $33,886,265)				36,314,391
Foreign Government—12.9%
Sovereign—12.9%
Deutsche Bundesrepublik Inflation Linked Bond 0.100%, 04/15/23 (EUR) (b)		4,975,222		5,698,340
France Government Bond OAT 0.250%, 07/25/24 (EUR) (b)		5,199,390		6,131,709

BHFTI-268

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Shares/ Principal Amount*		Value
Sovereign—(Continued)
Italy Buoni Poliennali Del Tesoro 2.350%, 09/15/24 (144A) (EUR) (b)		4,093,947	$	5,054,779
United Kingdom Gilt Inflation Linked Bond 0.625%, 03/22/40 (GBP) (b)		5,883,064		13,114,441
Total Foreign Government (Cost $29,434,725)				29,999,269
Mutual Fund—11.2%
Investment Company Security—11.2%
iShares iBoxx $ Investment Grade Corporate Bond ETF (Cost $24,360,960)		204,313		26,045,821
U.S. Treasury & Government Agencies—7.1%
U.S. Treasury—7.1%
U.S. Treasury Inflation Indexed Bond 3.875%, 04/15/29 (b)		4,322,945		5,801,976
U.S. Treasury Inflation Indexed Notes
0.125%, 01/15/23 (b)		2,200,750		2,182,813
0.250%, 01/15/25 (b)		4,040,261		4,052,032
0.375%, 07/15/25 (b)		4,327,440		4,387,104
Total U.S. Treasury & Government Agencies (Cost $16,156,940)				16,423,925
Preferred Stocks—0.0%
Automobiles—0.0%
Bayerische Motoren Werke (BMW) AG		211		11,708
Health Care Equipment & Supplies—0.0%
Sartorius AG		111		20,252
Total Preferred Stocks (Cost $32,225)				31,960
Rights—0.0%
Multiline Retail—0.0%
Harvey Norman Holdings, Ltd., Expires 10/11/19 (a) (Cost $0)		1		1
Short-Term Investments—46.6%
Mutual Funds—3.9%
BlackRock Liquidity Funds T-Fund Portfolio, Institutional Class, 1.870% (c)		7,404,207		7,404,207
UBS Select Treasury Institutional Fund, Institutional Class, 1.870% (c)		1,717,123		1,717,123
				9,121,330
Security Description	Principal Amount*		Value
Repurchase Agreement—27.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $63,164,685; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $64,429,789.		63,163,281		63,163,281
U.S. Treasury—15.6%
U.S. Treasury Bills
2.012%, 01/16/20 (d) (e)		8,500,000		8,454,731
2.033%, 12/19/19 (d)		28,000,000		27,893,333
				36,348,064
Total Short-Term Investments (Cost $107,687,721)				108,632,675
Total Investments—93.4% (Cost $211,558,836)				217,448,042
Other assets and liabilities (net)—6.6%				15,377,797
Net Assets—100.0%			$	232,825,839

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	Principal amount of security is adjusted for inflation.
(c)	The rate shown represents the annualized seven-day yield as of September 30, 2019.
(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 September 30, 2019, the market value of securities pledged was $8,454,731.
(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 September 30, 2019, the market value of 144A securities was $5,054,779, which is 2.2% of net assets.

BHFTI-269

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	493	SSBT		10/30/19		USD	334	$	(1	)
AUD	629	SSBT		10/30/19		USD	425		—
Contracts to Deliver
AUD	2,700,000	SSBT		10/30/19		USD	1,824,132		(27	)
CAD	3,200,000	BNP		10/30/19		USD	2,412,254		(4,258	)
CHF	1,200,000	SSBT		10/30/19		USD	1,220,324		15,058
EUR	7,200,000	BNP		10/30/19		USD	7,931,126		66,926
EUR	15,285,000	BBP		10/30/19		USD	16,947,838		252,796
GBP	10,200,000	BBP		10/30/19		USD	12,754,166		198,463
GBP	1,400,000	BBH		10/30/19		USD	1,736,556		13,224
HKD	8,700,000	BNP		10/30/19		USD	1,110,413		(105	)
HKD	95,572	SSBT		10/30/19		USD	12,196		(4	)
JPY	328,000,000	SSBT		10/30/19		USD	3,060,885		21,821
Net Unrealized Appreciation								$	563,893

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
5-Year USD Market Agreed Coupon Swap Futures		12/16/19		414		USD	41,448,516	$	(338,429	)
10-Year USD Market Agreed Coupon Swap Futures		12/16/19		213		USD	21,166,875		(285,622	)
Amsterdam AEX Index Futures		10/18/19		11		EUR	1,276,330		17,217
Australian 10 Year Treasury Bond Futures		12/16/19		378		AUD	55,698,035		414,861
Bloomberg Commodity Index Futures		12/18/19		424		USD	3,290,240		(26,754	)
Brent Crude Oil Futures		11/29/19		21		USD	1,228,080		(160,837	)
Canada Government Bond 10 Year Futures		12/18/19		323		CAD	46,059,800		(563,461	)
Cattle Feeder Futures		11/21/19		13		USD	922,513		60,010
Cocoa Futures		03/16/20		42		USD	1,031,520		(5,031	)
Coffee ‘C’ Futures		12/18/19		14		USD	531,038		(7,289	)
Copper Futures		12/27/19		15		USD	966,938		(3,247	)
Corn Futures		12/13/19		35		USD	679,000		(27,859	)
Cotton No. 2 Futures		12/06/19		22		USD	669,130		(54,058	)
DAX Index Futures		12/20/19		4		EUR	1,241,100		2,734
Euro-BTP Futures		12/06/19		95		EUR	13,854,800		(5,317	)
Euro-Bobl Futures		12/06/19		169		EUR	22,924,850		(169,733	)
Euro-Bund 10 Year Futures		12/06/19		67		EUR	11,674,750		(143,968	)
Euro-Buxl 30 Year Bond Futures		12/06/19		25		EUR	5,437,500		(141,185	)
FTSE 100 Index Futures		12/20/19		25		GBP	1,845,875		24,095
Gold 100 oz. Futures		12/27/19		18		USD	2,651,220		46,278
Goldman Sachs Commodity Index Futures		10/15/19		55		USD	5,557,063		(79,280	)
Hang Seng Index Futures		10/30/19		12		HKD	15,625,200		(184	)
IBEX 35 Index Futures		10/18/19		11		EUR	1,015,575		30,728
Japanese Government 10 Year Bond Futures		12/13/19		33		JPY	5,115,660,000		(23,290	)
Japanese Government 10 Year Bond Mini Futures		12/12/19		528		JPY	8,180,832,000		(81,404	)
LME Nickel Futures		12/18/19		10		USD	1,023,900		140,345
LME Primary Aluminum Futures		12/18/19		33		USD	1,425,600		(107,096	)
LME Zinc Futures		12/18/19		20		USD	1,195,750		(7,661	)
Lean Hogs Futures		12/13/19		9		USD	261,360		31,858
Live Cattle Futures		12/31/19		37		USD	1,632,440		78,623
Low Sulphur Gas Oil Futures		12/12/19		12		USD	695,700		21,568
MSCI Emerging Markets Index Mini Futures		12/20/19		508		USD	25,448,260		(753,120	)
Natural Gas Futures		11/26/19		55		USD	1,377,200		(111,718	)

BHFTI-270

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
New York Harbor ULSD Futures		11/29/19		8			USD	634,502		$	13,604
OMX Stockholm 30 Index Futures		10/18/19		68			SEK	11,204,700			(1,594	)
RBOB Gasoline Futures		11/29/19		10			USD	642,222			15,096
Russell 2000 Index E-Mini Futures		12/20/19		220			USD	16,775,000			(641,304	)
S&P 500 Index E-Mini Futures		12/20/19		158			USD	23,530,150			(238,185	)
S&P TSX 60 Index Futures		12/19/19		17			CAD	3,386,740			236
SPI 200 Index Futures		12/19/19		20			AUD	3,341,000			3,992
Silver Futures		12/27/19		15			USD	1,274,850			(29,390	)
Soybean Futures		11/14/19		11			USD	498,300			30,041
Soybean Futures		01/14/20		1			USD	45,975			572
Soybean Meal Futures		12/13/19		18			USD	541,800			(4,598	)
Soybean Oil Futures		12/13/19		52			USD	907,296			11,588
Sugar No. 11 Futures		02/28/20		45			USD	637,560			8,728
TOPIX Index Futures		12/12/19		13			JPY	206,440,000			81,140
U.S. Treasury Long Bond Futures		12/19/19		88			USD	14,283,500			(176,532	)
U.S. Treasury Note 2 Year Futures		12/31/19		1			USD	215,500			(510	)
United Kingdom Long Gilt Bond Futures		12/27/19		200			GBP	26,848,000			318,183
Wheat Futures		12/13/19		31			USD	768,413			12,061
Futures Contracts—Short
LME Nickel Futures		12/18/19		(4	)		USD	(409,560	)		(38,434	)
LME Primary Aluminum Futures		12/18/19		(6	)		USD	(259,200	)		9,416
LME Zinc Futures		12/18/19		(3	)		USD	(179,363	)		1,071
Net Unrealized Depreciation										$	(2,853,045	)

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 Appreciation/ (Depreciation)
Pay	3M LIBOR		Quarterly	1.750%	Semi-Annually		03/18/22		USD	109,500,000	$	574,711	$	527,895	$	46,816
Pay	3M LIBOR		Quarterly	2.500%	Semi-Annually		12/18/21		USD	28,000,000		518,051		540,787		(22,736	)
Pay	3M LIBOR		Quarterly	2.500%	Semi-Annually		12/18/21		USD	3,000,000		55,505		37,373		18,132
Totals											$	1,148,267	$	1,106,055	$	42,212

Glossary of Abbreviations

Counterparties

(BBH)—	Brown Brothers Harriman & Co.
(BBP)—	Barclays Bank plc
(BNP)—	BNP Paribas S.A.
(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

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

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

BHFTI-271

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	215,212	$	167,433	$	—	$	382,645
Air Freight & Logistics		56,014		53,594		—		109,608
Airlines		78,277		50,313		—		128,590
Auto Components		42,778		62,404		—		105,182
Automobiles		46,451		100,874		—		147,325
Banks		331,978		794,658		—		1,126,636
Beverages		286,176		535,106		—		821,282
Biotechnology		165,804		232,505		—		398,309
Building Products		74,292		102,030		—		176,322
Capital Markets		243,565		66,625		—		310,190
Chemicals		641,811		1,027,569		—		1,669,380
Commercial Services & Supplies		90,333		62,520		—		152,853
Communications Equipment		83,801		187,185		—		270,986
Construction & Engineering		47,928		28,132		—		76,060
Construction Materials		99,805		184,421		—		284,226
Consumer Finance		25,520		—		—		25,520
Containers & Packaging		288,366		54,169		—		342,535
Distributors		42,148		93,603		—		135,751
Diversified Consumer Services		23,029		13,032		—		36,061
Diversified Financial Services		32,364		143,604		—		175,968
Diversified Telecommunication Services		384,240		1,656,869		—		2,041,109
Electric Utilities		1,347,484		1,554,465		—		2,901,949
Electrical Equipment		78,334		153,305		—		231,639
Electronic Equipment, Instruments & Components		103,420		253,576		—		356,996
Energy Equipment & Services		197,462		130,759		—		328,221
Entertainment		232,334		92,241		—		324,575
Equity Real Estate Investment Trusts		430,821		290,572		—		721,393
Food & Staples Retailing		617,387		782,956		—		1,400,343
Food Products		720,416		1,101,886		—		1,822,302
Gas Utilities		64,224		554,847		—		619,071
Health Care Equipment & Supplies		371,911		620,673		—		992,584
Health Care Providers & Services		265,711		337,497		—		603,208
Health Care Technology		20,042		29,057		—		49,099
Hotels, Restaurants & Leisure		262,361		506,249		—		768,610
Household Durables		162,182		178,984		—		341,166
Household Products		251,564		105,330		—		356,894
Independent Power and Renewable Electricity Producers		111,620		194,075		—		305,695
Industrial Conglomerates		51,928		152,869		—		204,797
Insurance		325,887		489,606		—		815,493
Interactive Media & Services		176,370		122,840		—		299,210
Internet & Direct Marketing Retail		75,756		42,492		—		118,248
IT Services		546,779		420,321		—		967,100

BHFTI-272

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Leisure Products	$	28,963		$	55,295		$	—	$	84,258
Life Sciences Tools & Services		135,253			106,919			—		242,172
Machinery		189,891			392,246			—		582,137
Marine		—			71,886			—		71,886
Media		467,211			520,613			—		987,824
Metals & Mining		189,035			286,921			—		475,956
Multi-Utilities		932,825			557,086			—		1,489,911
Multiline Retail		211,353			144,947			—		356,300
Oil, Gas & Consumable Fuels		1,032,803			1,397,248			—		2,430,051
Paper & Forest Products		—			93,784			—		93,784
Personal Products		95,727			183,850			—		279,577
Pharmaceuticals		319,579			915,231			—		1,234,810
Professional Services		74,076			161,063			—		235,139
Real Estate Management & Development		19,243			250,501			—		269,744
Road & Rail		160,701			126,794			—		287,495
Semiconductors & Semiconductor Equipment		267,130			185,885			—		453,015
Software		486,639			410,471			—		897,110
Specialty Retail		234,867			304,089			—		538,956
Technology Hardware, Storage & Peripherals		68,885			62,884			—		131,769
Textiles, Apparel & Luxury Goods		226,414			356,439			—		582,853
Tobacco		61,334			94,136			—		155,470
Trading Companies & Distributors		96,364			75,835			—		172,199
Transportation Infrastructure		—			284,160			—		284,160
Water Utilities		53,916			119,103			—		173,019
Wireless Telecommunication Services		96,106			263,559			—		359,665
Total Common Stocks		15,162,200			21,152,191			—		36,314,391
Total Foreign Government*		—			29,999,269			—		29,999,269
Total Mutual Fund*		26,045,821			—			—		26,045,821
Total U.S. Treasury & Government Agencies*		—			16,423,925			—		16,423,925
Total Preferred Stocks*		—			31,960			—		31,960
Total Rights*		1			—			—		1
Short-Term Investments
Mutual Funds		9,121,330			—			—		9,121,330
Repurchase Agreement		—			63,163,281			—		63,163,281
U.S. Treasury		—			36,348,064			—		36,348,064
Total Short-Term Investments		9,121,330			99,511,345			—		108,632,675
Total Investments	$	50,329,352		$	167,118,690		$	—	$	217,448,042
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	568,288		$	—	$	568,288
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(4,395	)		—		(4,395	)
Total Forward Contracts	$	—		$	563,893		$	—	$	563,893
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,374,045		$	—		$	—	$	1,374,045
Futures Contracts (Unrealized Depreciation)		(4,227,090	)		—			—		(4,227,090	)
Total Futures Contracts	$	(2,853,045	)	$	—		$	—	$	(2,853,045	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	64,948		$	—	$	64,948
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(22,736	)		—		(22,736	)
Total Centrally Cleared Swap Contracts	$	—		$	42,212		$	—	$	42,212

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-273

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—120.3% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—19.9%
Fannie Mae ARM Pool
3.683%, 12M MTA + 1.200%, 07/01/44 (b)		9,482	$	9,683
3.683%, 12M MTA + 1.200%, 09/01/44 (b)		15,458		15,786
4.726%, 1Y H15 + 2.360%, 11/01/34 (b)		313,738		332,613
Fannie Mae REMICS (CMO)
2.168%, 1M LIBOR + 0.150%, 08/25/34 (b)		28,905		28,614
2.205%, 1M LIBOR + 0.060%, 12/25/36 (b)		31,528		31,199
2.279%, 1M LIBOR + 0.060%, 07/25/37 (b)		278,513		273,751
2.368%, 1M LIBOR + 0.350%, 07/25/37 (b)		5,073		5,070
2.398%, 1M LIBOR + 0.380%, 07/25/37 (b)		55,192		55,231
2.418%, 1M LIBOR + 0.400%, 03/25/49 (b)		11,053,363		11,004,148
4.396%, 05/25/35 (b)		163,235		171,873
Fannie Mae Whole Loan (CMO) 2.495%, 1M LIBOR + 0.350%, 05/25/42 (b)		35,721		35,908
Freddie Mac ARM Non-Gold Pool 4.765%, 1Y H15 + 2.225%, 01/01/34 (b)		46,759		49,203
Freddie Mac REMICS (CMO) 2.580%, 1M LIBOR + 0.350%, 07/15/44 (b)		3,308,668		3,287,533
Freddie Mac Strips (CMO) 2.478%, 1M LIBOR + 0.450%, 09/15/42 (b)		4,726,032		4,750,295
Freddie Mac Structured Pass-Through Securities (CMO)
2.275%, 1M LIBOR + 0.130%, 08/25/31 (b)		29,374		29,257
3.492%, 12M MTA + 1.200%, 02/25/45 (b)		498,003		502,163
3.646%, 12M MTA + 1.200%, 10/25/44 (b)		1,676,162		1,694,264
Government National Mortgage Association (CMO)
2.266%, 12M LIBOR + 0.150%, 08/20/68 (b)		4,608,866		4,522,516
2.444%, 1M LIBOR + 0.400%, 02/20/49 (b)		11,394,669		11,378,883
3.059%, 1M LIBOR + 0.830%, 08/20/66 (b)		260,933		263,072
3.629%, 12M LIBOR + 0.750%, 04/20/67 (b)		3,238,777		3,294,409
Uniform Mortgage-Backed Securities
3.000%, TBA (a)		88,500,000		89,788,074
3.500%, TBA (a)		176,520,000		181,129,465
4.000%, TBA (a)		139,100,000		144,430,355
				457,083,365
U.S. Treasury—100.4%
U.S. Treasury Inflation Indexed Bonds
0.625%, 02/15/43 (c) (d) (e) (f)		9,596,740		9,845,585
0.750%, 02/15/42 (c)		33,176,388		35,102,600
0.750%, 02/15/45 (c)		25,058,500		26,349,926
0.875%, 02/15/47 (c)		50,509,458		54,901,298
1.000%, 02/15/46 (c)		70,488,327		78,615,308
1.000%, 02/15/48 (c)		16,079,227		18,060,991
1.375%, 02/15/44 (c) (g)		83,708,621		100,351,118
1.750%, 01/15/28 (c) (g)		123,031,242		138,357,635
2.000%, 01/15/26 (c)		42,834,325		47,569,062
2.125%, 02/15/40 (c)		42,815,090		56,976,226
2.125%, 02/15/41 (c) (e) (f)		12,617,486		16,946,212
2.375%, 01/15/25 (c) (g)		227,607,662		253,425,279
2.375%, 01/15/27 (c)		25,494,888		29,478,884
2.500%, 01/15/29 (c)		78,272,270		94,639,602
3.375%, 04/15/32 (c)		13,612,683		18,814,928
3.625%, 04/15/28 (c)		30,408,029		39,040,575
3.875%, 04/15/29 (c)		31,712,002		42,561,790
U.S. Treasury—(Continued)
U.S. Treasury Inflation Indexed Notes
0.125%, 04/15/20 (c) (e)		46,012		45,622
0.125%, 04/15/21 (c) (g)		238,455,367		235,902,933
0.125%, 01/15/22 (c)		47,970,990		47,515,401
0.125%, 04/15/22 (c)		36,422,858		36,058,547
0.125%, 07/15/22 (c) (e) (h)		33,913,225		33,771,923
0.125%, 01/15/23 (c)		93,171,761		92,412,369
0.125%, 07/15/26 (c)		85,058,330		84,931,019
0.250%, 01/15/25 (c) (g)		73,427,485		73,641,394
0.250%, 07/15/29 (c) (g)		27,454,905		27,742,772
0.375%, 07/15/23 (c)		74,239,412		74,698,741
0.375%, 07/15/25 (c)		60,617,698		61,453,459
0.375%, 01/15/27 (c) (f)		63,778,505		64,548,440
0.375%, 07/15/27 (c)		31,568,880		32,099,735
0.500%, 01/15/28 (c)		69,969,607		71,662,830
0.625%, 07/15/21 (c) (e) (f) (h) (i)		13,529,953		13,581,120
0.625%, 01/15/24 (c) (e) (i)		4,344,283		4,413,239
0.625%, 01/15/26 (c) (g)		211,772,167		217,266,719
0.750%, 07/15/28 (c)		31,142,473		32,737,362
0.875%, 01/15/29 (c) (g)		22,855,453		24,291,918
1.000%, 02/15/49 (c)		15,884,745		17,974,571
				2,307,787,133
Total U.S. Treasury & Government Agencies (Cost $2,777,878,281)				2,764,870,498
Corporate Bonds & Notes—11.3%
Agriculture—0.4%
BAT Capital Corp. 2.765%, 3M LIBOR + 0.590%, 08/14/20 (b)		4,000,000		4,007,667
BAT International Finance plc 2.750%, 06/15/20 (144A)		100,000		100,297
Imperial Brands Finance plc 2.950%, 07/21/20 (144A)		3,400,000		3,412,327
Japan Tobacco, Inc. 2.000%, 04/13/21		1,800,000		1,789,439
				9,309,730
Airlines—0.0%
Delta Air Lines, Inc. 2.600%, 12/04/20		400,000		400,700
Auto Manufacturers—0.3%
FCE Bank plc 1.875%, 06/24/21 (EUR)		700,000		779,043
Ford Motor Credit Co. LLC
3.157%, 08/04/20		1,200,000		1,202,972
3.200%, 01/15/21		1,200,000		1,201,574
3.550%, 10/07/22		2,400,000		2,400,082
General Motors Co. 3.009%, 3M LIBOR + 0.800%, 08/07/20 (b)		170,000		170,317
General Motors Financial Co., Inc.
2.350%, 10/04/19		200,000		200,000
3.583%, 3M LIBOR + 1.270%, 10/04/19 (b)		100,000		100,007

BHFTI-274

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—(Continued)
Nissan Motor Acceptance Corp. 2.650%, 07/13/22 (144A)		100,000	$	100,523
Volkswagen Group of America Finance LLC 2.450%, 11/20/19 (144A)		500,000		500,010
				6,654,528
Banks—5.2%
Banco Bilbao Vizcaya Argentaria S.A.
5.875%, 5Y EUR Swap + 5.660%, 09/24/23 (EUR) (b)		200,000		230,525
6.750%, 5Y EUR Swap + 6.604%, 02/18/20 (EUR) (b)		400,000		443,959
Banco Santander S.A. 6.250%, 5Y EUR Swap + 5.640%, 09/11/21 (EUR) (b)		100,000		114,990
Bank of America Corp. 5.875%, 3M LIBOR + 2.931%, 03/15/28 (b)		1,570,000		1,699,682
BBVA Bancomer S.A. 6.500%, 03/10/21		1,153,000		1,202,014
Cooperative Rabobank UA
5.500%, 5Y EUR Swap + 5.250%, 06/29/20 (EUR) (b)		1,600,000		1,795,157
6.625%, -1 x 5Y EUR Swap + 6.697%, 06/29/21 (EUR) (b)		1,600,000		1,900,423
Credit Suisse Group Funding Guernsey, Ltd. 3.800%, 09/15/22		6,600,000		6,857,198
Deutsche Bank AG 4.250%, 10/14/21		11,700,000		11,868,797
Goldman Sachs Group, Inc. (The) 3.319%, 3M LIBOR + 1.200%, 09/15/20 (b)		10,000,000		10,077,088
ING Bank NV 2.625%, 12/05/22 (144A)		3,300,000		3,372,930
JPMorgan Chase & Co. 5.736%, 3M LIBOR + 3.470%, 12/29/49 (b)		646,000		649,028
Lloyds Banking Group plc
2.959%, 3M LIBOR + 0.800%, 06/21/21 (b)		3,400,000		3,407,705
6.375%, 5Y EUR Swap + 5.290%, 06/27/20 (EUR) (b)		900,000		1,008,887
Mitsubishi UFJ Financial Group, Inc. 4.018%, 3M LIBOR + 1.880%, 03/01/21 (b)		1,686,000		1,721,335
Nykredit Realkredit A/S
1.000%, 10/01/50 (DKK)		204,494,306		30,062,375
2.000%, 04/01/20 (DKK)		64,400,000		9,523,382
2.500%, 10/01/47 (DKK)		29,904		4,542
Royal Bank of Scotland Group plc
3.656%, 3M LIBOR + 1.550%, 06/25/24 (b)		2,600,000		2,605,397
4.519%, 3M LIBOR + 1.550%, 06/25/24 (b)		1,700,000		1,787,929
7.500%, 5Y USD Swap + 5.800%, 08/10/20 (b)		900,000		919,125
8.625%, 5Y USD Swap + 7.598%, 08/15/21 (b)		1,040,000		1,113,684
State Bank of India 3.253%, 3M LIBOR + 0.950%, 04/06/20 (b)		5,500,000		5,507,495
UBS AG 2.682%, 3M LIBOR + 0.580%, 06/08/20 (144A) (b)		7,100,000		7,119,035
UniCredit S.p.A. 7.830%, 12/04/23 (144A)		12,900,000		15,052,881
				120,045,563
Biotechnology—0.0%
Celgene Corp. 3.250%, 08/15/22		100,000		103,037
Chemicals—0.2%
Ecolab, Inc. 4.350%, 12/08/21		1,300,000	$	1,362,449
Syngenta Finance NV
3.933%, 04/23/21 (144A)		900,000		916,459
4.441%, 04/24/23 (144A)		400,000		418,039
				2,696,947
Commercial Services—0.0%
Central Nippon Expressway Co., Ltd. 2.241%, 02/16/21		200,000		199,696
ERAC USA Finance LLC 5.250%, 10/01/20 (144A)		100,000		103,113
				302,809
Diversified Financial Services—1.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.625%, 10/30/20		400,000		409,463
Air Lease Corp.
2.500%, 03/01/21		500,000		501,459
3.375%, 06/01/21		500,000		507,887
4.750%, 03/01/20		100,000		100,960
Ally Financial, Inc.
3.750%, 11/18/19		200,000		200,200
4.125%, 03/30/20		300,000		301,875
4.250%, 04/15/21		100,000		102,125
Avolon Holdings Funding, Ltd. 5.500%, 01/15/23 (144A)		100,000		106,701
GE Capital International Funding Co. 2.342%, 11/15/20		3,200,000		3,192,210
International Lease Finance Corp. 8.250%, 12/15/20		900,000		962,914
Jyske Realkredit A/S
1.000%, 10/01/50 (DKK)		108,997,823		16,035,527
2.500%, 10/01/47 (DKK)		24,905		3,783
Nordea Kredit Realkreditaktieselskab
1.000%, 10/01/50 (DKK)		70,700,000		10,398,653
2.500%, 10/01/47 (DKK)		5,367		815
Park Aerospace Holdings, Ltd.
3.625%, 03/15/21 (144A)		100,000		100,730
5.250%, 08/15/22 (144A)		200,000		210,780
Realkredit Danmark A/S 2.500%, 07/01/47 (DKK)		45,346		6,885
Springleaf Finance Corp.
7.750%, 10/01/21		1,100,000		1,196,250
8.250%, 12/15/20		100,000		106,250
				34,445,467
Electric—0.7%
Consolidated Edison, Inc. 2.506%, 3M LIBOR + 0.400%, 06/25/21 (b)		600,000		602,023
Duke Energy Corp. 2.675%, 3M LIBOR + 0.500%, 05/14/21 (144A) (b) (j)		6,700,000		6,726,867

BHFTI-275

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Eversource Energy 2.900%, 10/01/24		100,000	$	102,462
National Rural Utilities Cooperative Finance Corp. 2.479%, 3M LIBOR + 0.375%, 06/30/21 (b)		500,000		501,800
NextEra Energy Capital Holdings, Inc. 2.544%, 3M LIBOR + 0.400%, 08/21/20 (b)		4,500,000		4,500,231
Sempra Energy 2.569%, 3M LIBOR + 0.450%, 03/15/21 (b)		1,700,000		1,694,452
Southern Power Co. 2.706%, 3M LIBOR + 0.550%, 12/20/20 (144A) (b)		2,200,000		2,200,185
				16,328,020
Food—0.1%
Conagra Brands, Inc. 3.800%, 10/22/21		3,200,000		3,302,309
Kraft Heinz Foods Co. 3.375%, 06/15/21		100,000		101,294
				3,403,603
Healthcare-Products—0.1%
Zimmer Biomet Holdings, Inc. 2.914%, 3M LIBOR + 0.750%, 03/19/21 (b)		1,900,000		1,900,033
Healthcare-Services—0.1%
Cigna Holding Co. 5.125%, 06/15/20		1,400,000		1,429,645
Internet—0.0%
eBay, Inc. 2.600%, 07/15/22		100,000		100,780
Machinery-Construction & Mining—0.0%
Komatsu Finance America, Inc. 2.437%, 09/11/22		200,000		200,164
Machinery-Diversified—0.4%
John Deere Capital Corp. 2.449%, 3M LIBOR + 0.290%, 06/22/20 (b)		8,800,000		8,812,186
Media—0.1%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.464%, 07/23/22		200,000		210,553
Discovery Communications LLC 2.800%, 06/15/20		1,335,000		1,339,562
Time Warner Cable LLC 5.000%, 02/01/20		200,000		201,617
				1,751,732
Miscellaneous Manufacturing—0.3%
General Electric Co. 5.550%, 05/04/20		1,100,000		1,115,815
Miscellaneous Manufacturing—(Continued)
Textron, Inc. 2.731%, 3M LIBOR + 0.550%, 11/10/20 (b)		4,620,000		4,617,919
				5,733,734
Oil & Gas—0.3%
Petrobras Global Finance B.V.
5.093%, 01/15/30 (144A)		4,897,000		5,108,306
6.125%, 01/17/22		268,000		287,698
6.250%, 12/14/26 (GBP)		400,000		580,962
				5,976,966
Pharmaceuticals—0.0%
AbbVie, Inc. 2.300%, 05/14/21		500,000		500,952
CVS Health Corp. 3.350%, 03/09/21		54,000		54,877
Shire Acquisitions Investments Ireland DAC 2.875%, 09/23/23		100,000		102,007
Teva Pharmaceutical Finance IV LLC 2.250%, 03/18/20		100,000		98,625
				756,461
Pipelines—0.6%
Enbridge, Inc.
2.738%, 3M LIBOR + 0.400%, 01/10/20 (b)		4,700,000		4,700,799
2.819%, 3M LIBOR + 0.700%, 06/15/20 (b)		5,600,000		5,609,921
Energy Transfer Partners L.P. / Regency Energy Finance Corp. 5.750%, 09/01/20		100,000		102,220
Plains All American Pipeline L.P. / PAA Finance Corp. 2.600%, 12/15/19		100,000		100,010
Sabine Pass Liquefaction LLC 5.625%, 02/01/21		2,800,000		2,892,484
Spectra Energy Partners L.P. 2.827%, 3M LIBOR + 0.700%, 06/05/20 (b)		200,000		200,373
TransCanada PipeLines, Ltd. 3.800%, 10/01/20		600,000		609,574
				14,215,381
Real Estate—0.0%
Akelius Residential Property AB 3.375%, 09/23/20 (EUR)		100,000		112,632
Real Estate Investment Trusts — 0.0%
American Tower Corp. 2.800%, 06/01/20		300,000		301,142
Retail—0.3%
McDonald’s Corp. 2.686%, 3M LIBOR + 0.430%, 10/28/21 (b)		6,900,000		6,901,367
Semiconductors—0.0%
NXP B.V. / NXP Funding LLC
3.875%, 09/01/22 (144A)		200,000		206,584

BHFTI-276

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Semiconductors—(Continued)
NXP B.V. / NXP Funding LLC
4.125%, 06/01/21 (144A)		400,000	$	410,398
				616,982
Software—0.0%
VMware, Inc. 3.900%, 08/21/27		300,000		308,604
Telecommunications—0.6%
AT&T, Inc.
2.888%, 3M LIBOR + 0.750%, 06/01/21 (b)		3,600,000		3,617,282
2.953%, 3M LIBOR + 0.650%, 01/15/20 (b)		734,000		735,082
3.253%, 3M LIBOR + 0.950%, 07/15/21 (b)		5,600,000		5,649,269
5.150%, 02/15/50		1,900,000		2,224,262
5.300%, 08/15/58		700,000		819,099
Sprint Communications, Inc. 7.000%, 03/01/20 (144A)		1,800,000		1,829,250
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.360%, 09/20/21 (144A)		50,000		50,188
				14,924,432
Trucking & Leasing—0.1%
Aviation Capital Group Corp. 6.750%, 04/06/21 (144A)		1,800,000		1,907,411
NTT Finance Corp. 1.900%, 07/21/21		200,000		198,830
SMBC Aviation Capital Finance DAC 3.000%, 07/15/22 (144A)		200,000		202,168
				2,308,409
Total Corporate Bonds & Notes (Cost $259,131,406)				260,041,054
Foreign Government—10.7%
Sovereign—10.7%
Argentina Bocon 51.603%, BADLAR + 0.000%, 10/04/22 (ARS) (b)		273,680		3,935
Argentina Bonar Bond 55.469%, BADLAR + 2.000%, 04/03/22 (ARS) (b)		14,686,000		110,302
Argentina POM Politica Monetaria 79.499%, ARLLMON + 0.000%, 06/21/20 (ARS) (b)		245,435,000		1,814,949
Australia Government Bonds
1.250%, 02/21/22 (AUD) (c)		8,500,000		6,856,953
3.000%, 09/20/25 (AUD) (c)		11,150,000		11,186,116
Brazil Letras do Tesouro Nacional 6.126%, 01/01/20 (BRL) (m)		15,416,000		3,664,051
Canadian Government Real Return Bond 4.250%, 12/01/26 (CAD) (c)		7,486,272		7,297,597
French Republic Government Bond OAT 2.100%, 07/25/23 (EUR) (c)		19,405,840		23,917,286
Japanese Government CPI Linked Bonds
0.100%, 03/10/24 (JPY) (c)		177,140,000		1,678,427
0.100%, 03/10/28 (JPY) (c)		1,470,057,660		14,173,735
0.100%, 03/10/29 (JPY) (c)		1,544,020,020		14,893,992
Sovereign—(Continued)
Mexican Bonos 7.750%, 05/29/31 (MXN)		97,900,000		5,256,259
New Zealand Government Inflation Linked Bonds
2.500%, 09/20/35 (NZD) (c)		1,590,000		1,386,584
3.000%, 09/20/30 (NZD) (c)		11,600,000		10,121,545
Peruvian Government International Bond 5.940%, 02/12/29 (144A) (PEN)		6,800,000		2,286,927
Qatar Government International Bond 3.875%, 04/23/23		2,500,000		2,643,750
United Kingdom Gilt Inflation Linked Bonds
0.125%, 03/22/26 (GBP) (c)		17,039,960		25,724,313
0.125%, 08/10/28 (GBP) (c)		13,364,094		21,693,119
1.250%, 11/22/27 (GBP) (c)		30,029,330		51,714,976
1.875%, 11/22/22 (GBP) (c)		27,337,340		39,313,312
Total Foreign Government (Cost $259,323,192)				245,738,128
Asset-Backed Securities—6.8%
Asset-Backed - Home Equity—1.2%
ACE Securities Corp. Home Equity Loan Trust 2.218%, 1M LIBOR + 0.200%, 03/25/37 (b)		591,564		348,757
Bear Stearns Asset-Backed Securities Trust 2.518%, 1M LIBOR + 0.500%, 12/25/35 (b)		215,680		215,621
Citigroup Mortgage Loan Trust, Inc.
2.163%, 1M LIBOR + 0.145%, 09/25/36 (144A) (b)		2,029,074		1,964,077
2.478%, 1M LIBOR + 0.460%, 10/25/35 (b)		3,700,000		3,506,429
First NLC Trust 2.088%, 1M LIBOR + 0.070%, 08/25/37 (144A) (b)		1,054,906		662,455
GSAA Home Equity Trust 6.220%, 03/25/46 (k)		512,417		406,103
Home Equity Asset Trust
2.468%, 1M LIBOR + 0.450%, 02/25/36 (b)		2,400,000		2,350,939
2.813%, 1M LIBOR + 0.795%, 07/25/34 (b)		228,580		228,585
2.873%, 1M LIBOR + 0.855%, 08/25/34 (b)		632,771		629,744
HSI Asset Securitization Corp. Trust 2.068%, 1M LIBOR + 0.050%, 10/25/36 (b)		5,638		2,893
Master Asset-Backed Securities Trust 2.518%, 1M LIBOR + 0.500%, 10/25/35 (b)		143,795		136,986
Morgan Stanley ABS Capital, Inc. Trust 2.678%, 1M LIBOR + 0.660%, 01/25/35 (b)		736,006		720,023
New Century Home Equity Loan Trust 2.783%, 1M LIBOR + 0.765%, 02/25/35 (b)		545,419		540,550
Nomura Home Equity Loan, Inc 2.308%, 1M LIBOR + 0.290%, 03/25/36 (b)		3,000,000		2,949,654
NovaStar Mortgage Funding Trust 2.723%, 1M LIBOR + 0.705%, 01/25/36 (b)		2,000,000		1,994,814
RASC Trust 2.248%, 1M LIBOR + 0.230%, 06/25/36 (b)		7,625,290		7,416,592
Soundview Home Loan Trust
2.078%, 1M LIBOR + 0.060%, 11/25/36 (144A) (b)		47,548		19,641
2.198%, 1M LIBOR + 0.180%, 07/25/37 (b)		503,440		461,649
2.218%, 1M LIBOR + 0.200%, 06/25/37 (b)		2,756,372		2,175,995
				26,731,507

BHFTI-277

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—5.1%
Adagio CLO
0.660%, 3M EURIBOR + 0.660%, 10/15/29 (144A) (EUR) (b)		300,000	$	326,987
1.100%, 10/15/29 (144A) (EUR)		250,000		271,884
Amortizing Residential Collateral Trust 3.143%, 1M LIBOR + 1.125%, 08/25/32 (b)		318,479		305,196
Argent Securities Trust 2.178%, 1M LIBOR + 0.160%, 05/25/36 (b)		263,559		98,335
Atrium XII 3.108%, 3M LIBOR + 0.830%, 04/22/27 (144A) (b)		2,500,000		2,499,877
Avery Point CLO, Ltd. 3.376%, 3M LIBOR + 1.100%, 04/25/26 (144A) (b)		4,394,675		4,394,938
Babson Euro CLO B.V. 0.447%, 3M EURIBOR + 0.820%, 10/25/29 (144A) (EUR) (b)		700,000		762,584
Benefit Street Partners CLO, Ltd. 3.080%, 3M LIBOR + 0.780%, 07/18/27 (144A) (b)		1,300,000		1,299,977
Black Diamond CLO, Ltd.
0.650%, 3M EURIBOR + 0.650%, 10/03/29 (144A) (EUR) (b)		2,120,000		2,310,667
3.382%, 3M LIBOR + 1.050%, 10/03/29 (144A) (b)		1,370,000		1,368,033
Carlyle Global Market Strategies Euro CLO, Ltd. 0.730%, 3M EURIBOR + 0.730%, 09/21/29 (144A) (EUR) (b)		300,000		327,761
Catamaran CLO, Ltd. 3.106%, 3M LIBOR + 0.850%, 01/27/28 (144A) (b)		4,020,000		3,993,954
CIFC Funding, Ltd. 3.083%, 3M LIBOR + 0.780%, 04/15/27 (144A) (b)		5,806,297		5,799,283
CIT Mortgage Loan Trust 3.368%, 1M LIBOR + 1.350%, 10/25/37 (144A) (b)		3,683,660		3,724,616
CoreVest American Finance Trust 2.968%, 10/15/49 (144A)		768,899		772,649
Countrywide Asset-Backed Certificates 2.208%, 1M LIBOR + 0.190%, 11/25/37 (b)		6,111,252		5,861,663
Credit-Based Asset Servicing and Securitization LLC
2.138%, 1M LIBOR + 0.120%, 07/25/37 (144A) (b)		97,542		64,498
2.238%, 1M LIBOR + 0.220%, 07/25/37 (144A) (b)		1,944,001		1,303,725
CSAB Mortgage-Backed Trust 5.720%, 09/25/36 (k)		523,863		287,358
CVP Cascade CLO-1, Ltd. 3.472%, 3M LIBOR + 1.150%, 01/16/26 (144A) (b)		721,795		721,891
CWABS Asset-Backed Certificates Trust
2.548%, 1M LIBOR + 0.530%, 02/25/36 (b)		4,900,000		4,895,613
2.758%, 1M LIBOR + 0.740%, 08/25/47 (b)		45,290		44,861
First Franklin Mortgage Loan Trust 2.328%, 1M LIBOR + 0.310%, 07/25/36 (b)		3,300,000		3,164,015
Flagship, Ltd. 3.398%, 3M LIBOR + 1.120%, 01/20/26 (144A) (b)		625,294		625,007
GSAMP Trust 2.753%, 1M LIBOR + 0.735%, 09/25/35 (b)		235,818		235,415
Halcyon Loan Advisors Funding, Ltd. 3.198%, 3M LIBOR + 0.920%, 04/20/27 (144A) (b)		1,917,175		1,917,343
HSI Asset Securitization Corp. Trust 2.178%, 1M LIBOR + 0.160%, 05/25/37 (b)		363,352		359,382
Jamestown CLO, Ltd.
2.993%, 3M LIBOR + 0.690%, 07/15/26 (144A) (b)		1,930,818		1,930,129
Asset-Backed - Other—(Continued)
Jamestown CLO, Ltd.
3.523%, 3M LIBOR + 1.220%, 01/17/27 (144A) (b)		5,202,905		5,210,709
JPMorgan Mortgage Acquisition Trust 2.228%, 1M LIBOR + 0.210%, 10/25/36 (b)		188,729		184,665
Jubilee CLO B.V. 0.482%, 3M EURIBOR + 0.840%, 07/12/28 (144A) (EUR) (b)		1,300,000		1,409,348
KVK CLO, Ltd. 3.697%, 3M LIBOR + 0.900%, 01/14/28 (144A) (b)		2,390,000		2,375,772
Legacy Mortgage Asset Trust 3.750%, 04/25/59 (144A) (k)		568,682		575,725
LoanCore Issuer, Ltd. 3.158%, 1M LIBOR + 1.130%, 05/15/36 (144A) (b)		3,500,000		3,506,562
Long Beach Mortgage Loan Trust
2.138%, 1M LIBOR + 0.120%, 08/25/36 (b)		1,116,500		612,835
2.753%, 1M LIBOR + 0.735%, 08/25/35 (b)		482,313		484,070
Man GLG Euro CLO II DAC 0.870%, 3M EURIBOR + 0.870%, 01/15/30 (144A) (EUR) (b)		1,000,000		1,095,001
Marlette Funding Trust 2.690%, 09/17/29 (144A)		888,898		891,067
Morgan Stanley ABS Capital, Inc. Trust 2.993%, 1M LIBOR + 0.975%, 07/25/34 (b)		69,675		69,337
Morgan Stanley IXIS Real Estate Capital Trust 2.068%, 1M LIBOR + 0.050%, 11/25/36 (b)		627		308
OCP CLO, Ltd.
3.087%, 3M LIBOR + 0.820%, 10/26/27 (144A) (b)		250,000		249,787
3.103%, 3M LIBOR + 0.800%, 07/15/27 (144A) (b)		3,100,000		3,100,050
3.153%, 3M LIBOR + 0.850%, 04/17/27 (144A) (b)		1,558,559		1,558,325
OHA Credit Partners, Ltd. 3.771%, 3M LIBOR + 1.010%, 10/20/25 (144A) (b)		1,886,901		1,886,570
Palmer Square Loan Funding, Ltd. 2.836%, 3M LIBOR + 0.900%, 10/24/27 (144A) (b)		500,000		499,999
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates
2.508%, 1M LIBOR + 0.490%, 09/25/35 (b)		200,000		199,545
2.708%, 1M LIBOR + 0.690%, 05/25/35 (b)		249,521		250,103
3.068%, 1M LIBOR + 1.050%, 10/25/34 (b)		4,000,000		4,059,035
Penta CLO B.V. 0.790%, 3M EURIBOR + 0.790%, 08/04/28 (144A) (EUR) (b)		1,300,000		1,417,025
RAAC Trust 2.358%, 1M LIBOR + 0.340%, 08/25/36 (b)		554,277		560,282
Saxon Asset Securities Trust 2.328%, 1M LIBOR + 0.310%, 09/25/47 (b)		1,114,748		1,083,262
Securitized Asset-Backed Receivables LLC Trust
2.168%, 1M LIBOR + 0.150%, 07/25/36 (b)		353,703		193,482
2.178%, 1M LIBOR + 0.160%, 07/25/36 (b)		3,889,818		2,041,444
Small Business Administration Participation Certificates 5.510%, 11/01/27		872,263		948,132
Sound Point CLO XIV, Ltd. 3.301%, 3M LIBOR + 1.150%, 01/23/29 (144A) (b)		1,300,000		1,299,992
SpringCastle Funding Asset-Backed Notes 3.200%, 05/27/36 (144A)		5,887,020		5,949,735
Stanwich Mortgage Loan Co. LLC 3.375%, 08/15/24 (144A) (k)		480,478		479,950

BHFTI-278

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Structured Asset Securities Corp. Mortgage Loan Trust 3.600%, 1M LIBOR + 1.500%, 04/25/35 (b)		164,377	$	162,967
THL Credit Wind River CLO, Ltd. 3.173%, 3M LIBOR + 0.870%, 10/15/27 (144A) (b)		400,000		399,800
3.183%, 3M LIBOR + 0.880%, 01/15/26 (144A) (b)		2,400,000		2,399,026
Tralee CLO, Ltd. 3.308%, 3M LIBOR + 1.030%, 10/20/27 (144A) (b)		3,200,000		3,200,454
Venture CLO, Ltd.
3.123%, 3M LIBOR + 0.820%, 04/15/27 (144A) (b)		7,051,449		7,043,023
3.183%, 3M LIBOR + 0.880%, 07/15/27 (144A) (b)		2,700,000		2,697,403
Vericrest Opportunity Loan Trust LLC 3.125%, 09/25/47 (144A) (k)		2,014,167		2,015,287
Voya CLO, Ltd. 2.996%, 3M LIBOR + 0.720%, 07/25/26 (144A) (b)		3,199,995		3,192,853
Z Capital Credit Partners CLO, Ltd. 3.272%, 3M LIBOR + 0.950%, 07/16/27 (144A) (b)		4,710,000		4,698,814
				117,669,385
Asset-Backed - Student Loan—0.5%
College Loan Corp. Trust 2.526%, 3M LIBOR + 0.250%, 01/25/24 (b)		900,000		879,485
SLM Student Loan Trust
Zero Coupon, 3M EURIBOR + 0.260%, 12/15/23 (EUR) (b)		111,675		121,677
Zero Coupon, 3M EURIBOR + 0.270%, 06/17/24 (EUR) (b)		571,453		621,585
1.850%, 06/17/30 (144A)		51,419		51,408
2.826%, 3M LIBOR + 0.550%, 10/25/64 (144A) (b)		3,700,000		3,650,488
3.776%, 3M LIBOR + 1.500%, 04/25/23 (b)		3,603,108		3,624,368
4.278%, 1M LIBOR + 2.250%, 06/16/42 (144A) (b)		1,209,626		1,220,262
SoFi Professional Loan Program LLC 2.050%, 01/25/41 (144A)		1,553,715		1,551,659
				11,720,932
Total Asset-Backed Securities (Cost $153,545,131)				156,121,824
Mortgage-Backed Securities—3.8%
Collateralized Mortgage Obligations—3.1%
Alternative Loan Trust
2.138%, 1M LIBOR + 0.120%, 06/25/36 (b)		1,138,203		1,081,555
5.000%, 07/25/35		290,962		251,458
6.000%, 03/25/37		4,669,572		3,266,757
6.000%, 04/25/37		1,034,754		1,041,616
Banc of America Funding Trust
2.484%, 1M LIBOR + 0.440%, 07/20/36 (b)		39,301		39,261
4.701%, 02/20/36 (b)		371,746		372,205
Banc of America Mortgage Trust
4.026%, 09/25/35 (b)		54,518		53,700
4.704%, 06/25/35 (b)		88,928		85,274
Bear Stearns Adjustable Rate Mortgage Trust 4.313%, 03/25/35 (b)		229,690		234,503
Collateralized Mortgage Obligations—(Continued)
Bear Stearns ALT-A Trust
2.178%, 1M LIBOR + 0.160%, 02/25/34 (b)		117,151		115,764
4.201%, 09/25/35 (b)		731,330		608,904
Chase Mortgage Finance Trust 4.466%, 02/25/37 (b)		38,654		39,905
CHL Mortgage Pass-Through Trust 6.000%, 03/25/37		1,352,699		1,124,978
Citigroup Mortgage Loan Trust
2.345%, 1M LIBOR + 0.200%, 06/25/47 (144A) (b)		791,178		794,962
3.258%, 04/25/66 (144A) (b)		588,999		588,953
4.052%, 08/25/35 (b)		24,903		25,160
4.606%, 03/25/37 (b)		3,191,120		3,199,386
4.810%, 1Y H15 + 2.400%, 05/25/35 (b)		13,837		14,050
Countrywide Alternative Loan Trust
2.198%, 1M LIBOR + 0.180%, 05/25/47 (b)		222,774		212,197
2.224%, 1M LIBOR + 0.180%, 02/20/47 (b)		753,143		594,739
2.298%, 1M LIBOR + 0.280%, 12/25/35 (b)		22,899		22,773
5.500%, 06/25/25		398,932		399,922
Countrywide Home Loan Mortgage Pass-Through Trust
2.598%, 1M LIBOR + 0.580%, 04/25/35 (b)		492,016		480,706
3.803%, 08/25/34 (b)		72,762		69,232
4.494%, 11/20/34 (b)		32,758		33,012
Countrywide Home Reperforming Loan REMIC Trust 2.358%, 1M LIBOR + 0.340%, 06/25/35 (144A) (b)		62,095		59,511
Credit Suisse Mortgage Capital Certificates
2.168%, 1M LIBOR + 0.150%, 09/29/36 (144A) (b)		2,576,000		2,440,843
2.766%, 11/30/37 (144A) (b)		2,600,000		2,345,118
3.322%, 10/25/58 (144A) (b)		199,301		200,145
5.896%, 10/26/36 (144A) (b)		93,195		88,949
Deutsche ALT-B Securities Mortgage Loan Trust
2.118%, 1M LIBOR + 0.100%, 10/25/36 (b)		18,062		13,710
5.869%, 10/25/36 (k)		318,049		303,727
5.886%, 10/25/36 (k)		318,049		303,723
Eurosail-UK plc 1.730%, 3M GBP LIBOR + 0.950%, 06/13/45 (GBP) (b)		1,979,414		2,417,812
First Horizon Alternative Mortgage Securities Trust 4.309%, 06/25/34 (b)		131,880		133,209
Great Hall Mortgages No. 1 plc
0.913%, 3M GBP LIBOR + 0.130%, 03/18/39 (GBP) (b)		160,823		193,512
0.933%, 3M GBP LIBOR + 0.150%, 06/18/38 (GBP) (b)		99,770		120,082
GreenPoint Mortgage Funding Trust
2.198%, 1M LIBOR + 0.180%, 09/25/46 (b)		553,897		530,179
2.458%, 1M LIBOR + 0.440%, 06/25/45 (b)		232,065		220,144
2.558%, 1M LIBOR + 0.540%, 11/25/45 (b)		130,991		115,708
GSR Mortgage Loan Trust
4.224%, 12/25/34 (b)		498,713		507,224
4.281%, 11/25/35 (b)		352,151		332,350
4.427%, 05/25/35 (b)		289,863		283,689
4.480%, 09/25/35 (b)		120,012		123,259
4.715%, 01/25/35 (b)		94,952		96,622
HarborView Mortgage Loan Trust
2.247%, 1M LIBOR + 0.190%, 09/19/37 (b)		31,147		30,232
2.497%, 1M LIBOR + 0.440%, 05/19/35 (b)		54,761		53,085

BHFTI-279

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
HarborView Mortgage Loan Trust
2.617%, 1M LIBOR + 0.560%, 02/19/36 (b)		119,636	$	99,687
2.644%, 1M LIBOR + 0.600%, 06/20/35 (b)		309,928		308,735
Hawksmoor Mortgages plc Zero Coupon, 3M SONIA + 1.050%, 05/25/53 (144A) (GBP) (b)		9,700,000		11,932,784
IndyMac INDA Mortgage Loan Trust 4.568%, 11/25/35 (b)		177,451		178,870
JPMorgan Mortgage Trust
3.716%, 07/27/37 (144A) (b)		546,413		560,457
4.256%, 08/25/35 (b)		195,963		193,097
4.264%, 09/25/35 (b)		40,759		40,503
4.484%, 07/25/35 (b)		111,122		114,759
4.497%, 06/25/35 (b)		396,233		399,652
4.508%, 07/25/35 (b)		105,853		109,394
4.577%, 08/25/35 (b)		151,883		154,481
4.683%, 02/25/35 (b)		174,428		176,319
Lehman XS Trust
2.558%, 1M LIBOR + 0.540%, 12/25/35 (b)		116,578		114,780
3.168%, 1M LIBOR + 1.150%, 12/25/37 (b)		4,814,397		4,760,948
MASTR Adjustable Rate Mortgages Trust
4.153%, 12/25/33 (b)		83,908		82,963
4.734%, 11/21/34 (b)		87,289		89,638
Mellon Residential Funding Corp. Mortgage Pass-Through Trust
2.468%, 1M LIBOR + 0.440%, 12/15/30 (b)		22,977		22,447
2.728%, 1M LIBOR + 0.700%, 11/15/31 (b)		129,493		130,780
Merrill Lynch Mortgage Investors Trust
2.268%, 1M LIBOR + 0.250%, 11/25/35 (b)		3,617		3,633
3.865%, 12/25/35 (b)		108,604		100,083
National Credit Union Administration Guaranteed Notes
2.507%, 1M LIBOR + 0.450%, 10/07/20 (b)		813,170		813,522
2.617%, 1M LIBOR + 0.560%, 12/08/20 (b)		2,555,092		2,558,869
Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates 3.068%, 1M LIBOR + 1.050%, 04/25/35 (b)		2,000,000		2,000,702
Residential Accredit Loans, Inc.
2.318%, 1M LIBOR + 0.300%, 08/25/35 (b)		93,033		84,109
3.390%, 10/25/37 (b)		1,169,060		1,097,084
3.806%, 12M MTA + 1.360%, 09/25/45 (b)		94,580		88,930
Residential Asset Securitization Trust 6.500%, 09/25/36		332,114		228,701
Sequoia Mortgage Trust
2.244%, 1M LIBOR + 0.200%, 07/20/36 (b)		578,261		562,232
2.757%, 1M LIBOR + 0.700%, 10/19/26 (b)		30,593		30,338
Structured Adjustable Rate Mortgage Loan Trust
3.846%, 12M MTA + 1.400%, 01/25/35 (b)		73,057		71,314
4.458%, 02/25/34 (b)		86,004		87,548
Structured Asset Mortgage Investments II Trust
2.208%, 1M LIBOR + 0.190%, 06/25/36 (b)		65,686		66,057
2.228%, 1M LIBOR + 0.210%, 05/25/36 (b)		32,843		31,065
2.307%, 1M LIBOR + 0.250%, 07/19/35 (b)		101,549		100,918
2.717%, 1M LIBOR + 0.660%, 10/19/34 (b)		54,584		54,825
TBW Mortgage-Backed Trust 6.015%, 07/25/37 (k)		211,661		143,937
Security Description	Shares/ Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Towd Point Mortgage Funding plc 1.798%, 3M GBP LIBOR + 1.025%, 10/20/51 (144A) (GBP) (b)		9,060,307		11,144,296
Wachovia Mortgage Loan Trust 2.248%, 1M LIBOR + 0.230%, 01/25/37 (b)		2,603,477		1,696,206
WaMu Mortgage Pass-Through Certificates Trust
2.655%, COFI + 1.500%, 07/25/46 (b)		495,511		479,347
2.655%, COFI + 1.500%, 11/25/46 (b)		166,332		167,022
3.216%, 12M MTA + 0.770%, 05/25/47 (b)		287,873		274,205
3.293%, 12M MTA + 0.810%, 12/25/46 (b)		66,712		67,163
3.446%, 12M MTA + 1.000%, 02/25/46 (b)		114,112		116,413
3.446%, 12M MTA + 1.000%, 08/25/46 (b)		4,006,365		3,741,442
3.646%, 12M MTA + 1.200%, 11/25/42 (b)		13,927		13,709
3.878%, 08/25/35 (b)		28,130		27,572
3.988%, 12/25/35 (b)		93,993		92,266
Wells Fargo Mortgage-Backed Securities Trust
4.843%, 11/25/34 (b)		63,597		65,264
4.912%, 03/25/36 (b)		44,859		45,225
4.922%, 09/25/34 (b)		96,130		99,640
5.220%, 04/25/36 (b)		110,492		109,562
				71,397,298
Commercial Mortgage-Backed Securities—0.7%
Bancorp Commercial Mortgage Trust 3.316%, 1M LIBOR + 1.050%, 09/15/36 (144A) (b)		5,700,000		5,703,563
GS Mortgage Securities Trust 4.592%, 08/10/43 (144A)		25,000		25,278
JPMorgan Chase Commercial Mortgage Securities Trust 3.600%, 1M LIBOR + 1.450%, 12/15/31 (144A) (b)		2,000,000		1,999,988
Vornado DP LLC Trust 4.004%, 09/13/28 (144A)		7,000,000		7,060,448
				14,789,277
Total Mortgage-Backed Securities (Cost $77,926,359)				86,186,575
Convertible Preferred Stock—0.1%
Banks—0.1%
Wells Fargo & Co., Series L 7.500%, 12/31/49 (Cost $900,000)		900		1,370,241
Municipals—0.0%
Tobacco Settlement Finance Authority 7.467%, 06/01/47 (Cost $661,803)		690,000		713,991

BHFTI-280

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Short-Term Investments—6.0%

Security Description	Principal Amount*		Value
Certificate of Deposit—0.6%
Barclays Bank plc 2.676%, 3M LIBOR + 0.400%, 10/25/19 (b)		14,900,000	$	14,903,326
Repurchase Agreements—5.4%
Barclays Capital, Inc. Repurchase Agreement dated 09/30/19, at 2.780%, due on 10/01/19 with a maturity value of $12,500,965; collateralized by U.S. Treasury Note at 2.625%, maturing 03/31/25, with a market value of $12,604,928.		12,500,000		12,500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19, at 2.080%, due on 10/02/19 with a maturity value of $108,706,280; collateralized by U.S. Treasury Inflation Indexed Note at 0.125%, maturing 04/15/21, with a market value of $110,882,367.		108,700,000		108,700,000
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $1,083,012; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $1,109,286.		1,082,988		1,082,988
JPMorgan Securities LLC Repurchase Agreement dated 09/30/19 at 2.750%, due on 10/01/19 with a maturity value of $2,600,199; collateralized by U.S. Treasury Inflation Indexed Note at 0.500%, maturing 01/15/28, with a market value of $2,666,370.		2,600,000		2,600,000
				124,882,988
Total Short-Term Investments (Cost $139,782,988)				139,786,314
Total Purchased Options—0.0% (l) (Cost $870,779)				845,680
Total Investments—159.0% (Cost $3,670,019,939)				3,655,674,305
Other assets and liabilities (net)—(59.0)%				(1,356,722,053	)
Net Assets—100.0%			$	2,298,952,252

*	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 September 30, 2019. 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)	Principal amount of security is adjusted for inflation.
(d)	All or a portion of the security was pledged as collateral against TBA securities. As of September 30, 2019, the value of securities pledged amounted to $293,078.
(e)	All or a portion of the security was pledged as collateral against open secured borrowing transactions. As of September 30, 2019, the value of securities pledged amounted to $11,887,027.
(f)	All or a portion of the security was pledged as collateral against open OTC swap contracts and open forward foreign currency exchange contracts. As of September 30, 2019, the market value of securities pledged was $4,258,454.
(g)	All or a portion of this security has been transferred in a secured-borrowing transaction.
(h)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2019, the market value of securities pledged was $6,638,726.
(i)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2019, the market value of securities pledged was $8,099,680.
(j)	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 September 30, 2019, the market value of restricted securities was $6,726,867, which is 0.3% of net assets. See details shown in the Restricted Securities table that follows.
(k)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(l)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(m)		The rate shown represents current yield to maturity.
(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 September 30, 2019, the market value of 144A securities was $198,075,474, which is 8.6% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Duke Energy Corp., 2.675%, 05/14/21		05/14/18	$	6,700,000	$	6,700,000	$	6,726,867

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	27,219,000	CBNA		10/02/19		USD	18,419,097	$	(47,630	)
BRL	43,452,486	CSI		10/02/19		USD	10,434,273		23,732
BRL	43,452,486	DBAG		10/02/19		USD	10,441,293		16,711
BRL	43,452,486	CSI		11/04/19		USD	10,381,547		52,350
CAD	10,655,000	CBNA		10/02/19		USD	8,043,331		(772	)
COP	36,394,291,250	CBNA		10/15/19		USD	11,373,998		(921,810	)

BHFTI-281

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	1,576,000	BNP		10/02/19		USD	1,752,055	$	(34,293	)
EUR	3,371,000	BNP		10/02/19		USD	3,728,417		(54,195	)
EUR	7,928,000	CBNA		10/02/19		USD	8,724,682		(83,556	)
EUR	8,151,000	CBNA		10/02/19		USD	8,967,092		(82,907	)
EUR	41,868,000	CBNA		10/02/19		USD	46,304,890		(670,850	)
EUR	36,934,195	JPMC		10/02/19		USD	40,324,755		(68,316	)
GBP	1,501,000	BBP		10/02/19		USD	1,870,647		(25,093	)
GBP	17,829,000	CBNA		10/02/19		USD	21,967,120		(45,482	)
IDR	163,075,788,500	BNP		12/18/19		USD	11,418,274		(23,780	)
JPY	1,268,900,000	UBSA		10/02/19		USD	11,739,704		(4,213	)
JPY	2,140,700,000	UBSA		10/02/19		USD	19,890,379		(91,997	)
MYR	506,797	GSBU		12/18/19		USD	120,997		(86	)
NZD	17,880,000	CBNA		10/02/19		USD	11,252,302		(55,847	)
PEN	7,267,017	CBNA		10/09/19		USD	2,169,842		(14,512	)
RUB	59,577,326	CBNA		10/17/19		USD	933,046		(16,162	)
RUB	682,856,341	GSBU		11/15/19		USD	10,360,561		108,879
ZAR	84,527,398	CBNA		10/07/19		USD	5,915,930		(338,402	)
Contracts to Deliver
ARS	11,619,763	JPMC		10/21/19		USD	180,824	$	(7,572	)
AUD	27,219,000	CBNA		10/02/19		USD	18,390,836		19,369
AUD	27,219,000	CBNA		11/04/19		USD	18,439,198		46,501
BRL	43,452,486	CSI		10/02/19		USD	10,402,798		(55,207	)
BRL	43,452,486	DBAG		10/02/19		USD	10,434,273		(23,732	)
BRL	15,416,000	JPMC		01/03/20		USD	4,007,383		317,491
CAD	10,655,000	BBP		10/02/19		USD	8,014,904		(27,655	)
CAD	10,655,000	CBNA		11/04/19		USD	8,047,249		436
CNH	743,071	BBP		03/18/20		USD	103,764		102
COP	36,460,572,500	CBNA		11/25/19		USD	10,772,491		321,476
DKK	139,245,000	BNP		10/01/19		USD	21,235,321		907,435
DKK	44,485,000	BNP		10/01/19		USD	6,816,883		322,675
DKK	24,220,000	BNP		10/01/19		USD	3,723,867		188,075
DKK	45,005,102	CBNA		10/01/19		USD	6,897,651		327,515
DKK	45,005,000	CBNA		10/01/19		USD	6,906,375		336,254
DKK	41,670,000	GSBU		10/01/19		USD	6,396,879		313,623
DKK	36,482,278	SG		10/01/19		USD	5,601,250		275,331
DKK	374,080,000	GSBU		01/02/20		USD	55,161,655		122,533
DKK	62,365,000	UBSA		04/01/20		USD	9,762,969		526,184
DKK	3,323,000	UBSA		04/01/20		USD	518,554		26,390
EUR	58,822,195	BNP		10/02/19		USD	65,322,519		1,209,247
EUR	7,874,000	BNP		10/02/19		USD	8,665,220		82,952
EUR	22,037,000	CBNA		10/02/19		USD	24,092,195		72,960
EUR	3,174,000	CBNA		10/02/19		USD	3,485,189		25,687
EUR	7,921,000	GSBU		10/02/19		USD	8,659,961		26,465
EUR	36,934,195	JPMC		11/04/19		USD	40,423,554		67,023
GBP	136,683,000	CBNA		10/02/19		USD	166,801,386		(1,257,131	)
GBP	1,375,000	CBNA		10/02/19		USD	1,711,786		21,156
GBP	1,328,000	CBNA		10/02/19		USD	1,618,363		(14,478	)
GBP	1,147,000	CBNA		10/02/19		USD	1,399,790		(10,504	)
GBP	16,444,000	JPMC		10/02/19		USD	20,254,483		35,770
GBP	111,628,059	BBP		11/04/19		USD	137,631,961		195,548
GBP	26,018,941	CBNA		11/04/19		USD	32,061,455		26,947
JPY	3,409,600,000	UBSA		10/02/19		USD	32,318,483		784,611
JPY	2,140,700,000	UBSA		11/05/19		USD	19,935,742		93,446
KRW	13,678,189,410	CBNA		12/18/19		USD	11,492,345		31,312
MXN	45,741,550	BBP		10/09/19		USD	2,335,361		20,212
MXN	52,418,000	JPMC		01/22/20		USD	2,608,315		(2,256	)

BHFTI-282

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
NZD	17,880,000	CBNA		10/02/19		USD	11,347,785	$	151,330
NZD	17,880,000	CBNA		11/04/19		USD	11,260,710		56,030
PEN	7,267,017	BNP		10/09/19		USD	2,158,563		3,233
PEN	7,267,017	CBNA		01/10/20		USD	2,161,259		14,076
SGD	7,931,254	BNP		12/18/19		USD	5,748,410		4,877
TWD	194,476,680	BNP		11/21/19		USD	6,217,683		(68,487	)
TWD	83,639,000	JPMC		11/21/19		USD	2,673,454		(30,052	)
TWD	79,182,000	JPMC		11/21/19		USD	2,523,327		(36,113	)
Net Unrealized Appreciation								$	3,062,854

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Call Options on Euro-BTP Futures, Strike EUR 172.00		11/22/19		5			EUR	50		$	(3	)
Call Options on Euro-Bobl Futures, Strike EUR 141.00		11/22/19		75			EUR	375			(42	)
Call Options on Euro-OAT Futures, Strike EUR 200.00		11/22/19		835			EUR	8,350			(464	)
Call Options on Euro-Schatz Futures, Strike EUR 114.70		10/25/19		596			EUR	2,980			(331	)
Call Options on Euro-Schatz Futures, Strike EUR 114.90		11/22/19		2,493			EUR	12,465			(1,386	)
Call Options on Euro-Schatz Futures, Strike EUR 115.00		11/22/19		1,765			EUR	8,825			(981	)
Euro-BTP Futures		12/06/19		937			EUR	105,590,530			(104,587	)
Euro-Bund Futures		12/06/19		670			EUR	116,747,500			(1,243,104	)
Put Options on Euro-Bund Futures, Strike EUR 151.00		11/22/19		637			EUR	6,370			(354	)
Put Options on Euro-Bund Futures, Strike EUR 162.50		11/22/19		292			EUR	2,920			(162	)
Put Options on Euro-Bund Futures, Strike EUR 173.00		10/25/19		332			EUR	116,200			12,178
U.S. Treasury Note 10 Year Futures		12/19/19		1,047			USD	136,437,188			(1,367,421	)
U.S. Treasury Note 2 Year Futures		12/31/19		99			USD	21,334,500			19,467
Futures Contracts—Short
Australian 10 Year Treasury Bond Futures		12/16/19		(57	)		AUD	(8,398,910	)		(33,238	)
Australian 3 Year Treasury Bond Futures		12/16/19		(117	)		AUD	(13,535,831	)		(33,348	)
Call Options on Euro-Bund Futures, Strike EUR 173.00		11/22/19		(44	)		EUR	(84,920	)		(26,881	)
Call Options on Euro-Bund Futures, Strike EUR 175.00		11/22/19		(123	)		EUR	(100,860	)		(2,868	)
Call Options on Euro-Bund Futures, Strike EUR 176.00		11/22/19		(92	)		EUR	(44,160	)		149,379
Call Options on Euro-Bund Futures, Strike EUR 178.50		11/22/19		(166	)		EUR	(18,260	)		97,581
Euro-BTP Futures		12/06/19		(5	)		EUR	(729,200	)		(2,730	)
Euro-Bobl Futures		12/06/19		(75	)		EUR	(10,173,750	)		80,850
Euro-Buxl 30 Year Bond Futures		12/06/19		(24	)		EUR	(5,220,000	)		23,006
Euro-OAT Futures		12/06/19		(786	)		EUR	(133,863,660	)		2,048,001
Euro-Schatz Futures		12/06/19		(4,854	)		EUR	(545,249,820	)		1,572,723
Japanese Government 10 Year Bond Futures		12/13/19		(17	)		JPY	(2,635,340,000	)		6,881
Put Options on Euro-Bund Futures, Strike EUR 170.50		10/25/19		(332	)		EUR	(16,600	)		12,882
Put Options on Euro-Bund Futures, Strike EUR 173.00		11/22/19		(44	)		EUR	(29,920	)		31,170
Put Options on Euro-Bund Futures, Strike EUR 175.00		11/22/19		(123	)		EUR	(193,110	)		40,206
Put Options on Euro-Bund Futures, Strike EUR 176.00		11/22/19		(92	)		EUR	(205,160	)		(48,218	)
Put Options on Euro-Schatz Futures, Strike EUR 112.20		11/22/19		(546	)		EUR	(19,110	)		30,311
U.S. Treasury Long Bond Futures		12/19/19		(533	)		USD	(86,512,563	)		1,572,571
U.S. Treasury Note 5 Year Futures		12/31/19		(1,502	)		USD	(178,960,954	)		727,272
U.S. Treasury Ultra Long Bond Futures		12/19/19		(48	)		USD	(9,211,500	)		324,189
United Kingdom Long Gilt Bond Futures		12/27/19		(560	)		GBP	(75,174,400	)		(434,785	)
Net Unrealized Appreciation										$	3,447,764

BHFTI-283

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Purchased Options

Credit Default Swaptions

Strike Spread

Counterparty

Reference Obligation

Buy/Sell Protection

Expiration Date

Number of Contracts

Notional Amount

Premiums Paid

Market Value

Unrealized (Depreciation)

Put - OTC - 5-Year CDS

1.200

%

CSI

CDX.NA.IG.32

Buy

10/16/19

26,500,000

USD

26,500,000

$

2,650

$

337

$

(2,313

)

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount		Premiums Paid		Market Value		Unrealized (Depreciation)
Call - U.S. Treasury Bond Futures		USD	198.000		11/22/19		396		USD 396,000	$	3,406	$	396	$	(3,010	)
Call - U.S. Treasury Bond Futures		USD	215.000		11/22/19		39		USD 39,000		335		39		(296	)
Call - U.S. Treasury Note 5 Year Futures		USD	132.000		11/22/19		283		USD 283,000		2,434		283		(2,151	)
Call - U.S. Treasury Note 5-Year Futures		USD	131.500		11/22/19		432		USD 432,000		3,715		432		(3,283	)
Call - U.S. Treasury Note 5-Year Futures		USD	131.000		11/22/19		398		USD 398,000		3,423		398		(3,025	)
Call - U.S. Treasury Note 5-Year Futures		USD	126.500		11/22/19		286		USD 286,000		2,460		286		(2,174	)
Call - U.S. Treasury Note 5-Year Futures		USD	127.500		11/22/19		88		USD 88,000		757		88		(669	)
Put - U.S. Treasury Note 10 Year Futures		USD	115.000		11/22/19		605		USD 605,000		5,203		605		(4,598	)
Put - U.S. Treasury Note 10 Year Futures		USD	116.000		11/22/19		397		USD 397,000		3,414		397		(3,017	)
Put - U.S. Treasury Note 10 Year Futures		USD	117.000		11/22/19		200		USD 200,000		1,720		200		(1,520	)
Put - U.S. Treasury Note 10 Year Futures		USD	115.500		11/22/19		36		USD 36,000		310		36		(274	)
Put - U.S. Treasury Note 10 Year Futures		USD	116.500		11/22/19		8		USD 8,000		69		8		(61	)
Put - U.S. Treasury Note 2 Year Futures		USD	104.500		11/22/19		85		USD 170,000		731		85		(646	)
Totals										$	27,977	$	3,253	$	(24,724	)

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
Call - OTC - 1 Yr. IRS	1.500%	DBAG	3M LIBOR		Pay		03/10/20		300,540,000		USD	300,540,000	$	426,990	$	427,879	$	889
Call - OTC - 1 Yr. IRS	1.500%	CBNA	3M LIBOR		Pay		03/10/20		290,940,000		USD	290,940,000		413,162		414,211		1,049
Totals													$	840,152	$	842,090	$	1,938

Written Options

Inflation Capped Options	Initial Index	Counterparty	Exercise Index	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Cap - CPALEMU Index	100.151	GSBU	Maximum of [(Final Index/Initial Index - 1) - 3.000%] or 0		06/22/35		(8,700,000	)		EUR	(8,700,000	)	$	(395,798	)	$	(7,692	)	$	388,106
Cap - CPURNSA Index	233.916	JPMC	Maximum of [(Final Index/Initial Index - 1) - 4.000%] or 0		04/22/24		(35,000,000	)		USD	(35,000,000	)		(254,625	)		—			254,625
Cap - CPURNSA Index	234.781	JPMC	Maximum of [(Final Index/Initial Index - 1) - 4.000%] or 0		05/16/24		(2,800,000	)		USD	(2,800,000	)		(19,460	)		—			19,460
Floor - OTC CPURNSA Index	200.000	MSCS	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		01/02/20		(146,700,000	)		USD	(146,700,000	)		(113,692	)		(93,423	)		20,269
Floor - OTC CPURNSA Index	216.687	CBNA	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		04/07/20		(46,900,000	)		USD	(46,900,000	)		(418,240	)		(1	)		418,239
Floor - OTC CPURNSA Index	217.965	CBNA	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		09/29/20		(4,600,000	)		USD	(4,600,000	)		(59,340	)		(1	)		59,339
Floor - OTC YOY CPURNSA Index	233.916	JPMC	Maximum of [0.000% - (Final Index/Initial Index - 1)] or 0		03/24/20		(33,500,000	)		USD	(33,500,000	)		(378,550	)		—			378,550
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	)		(2,533	)		272,476
Totals													$	(1,914,714	)	$	(103,650	)	$	1,811,064

BHFTI-284

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Written Options—(Continued)

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 - 30 Yr. IRS		0.000	%	GSBU	6M EURIBOR		Receive		12/13/19		(100,000	)		EUR	(100,000	)	$	(2,889	)	$	(1,785	)	$	1,104
Call - OTC - 30 Yr. IRS		0.000	%	BBP	6M EURIBOR		Receive		12/13/19		(1,500,000	)		EUR	(1,500,000	)		(42,189	)		(26,776	)		15,413
Call - OTC - 30 Yr. IRS		0.000	%	DBAG	6M EURIBOR		Receive		12/13/19		(5,200,000	)		EUR	(5,200,000	)		(118,190	)		(92,824	)		25,366
Call - OTC - 30 Yr. IRS		0.250	%	GSBU	6M EURIBOR		Receive		12/13/19		(8,000,000	)		EUR	(8,000,000	)		(199,092	)		(365,097	)		(166,005	)
Call - OTC - 5 Yr. IRS		1.404	%	CBNA	3M LIBOR		Receive		03/10/20		(61,130,000	)		USD	(61,130,000	)		(432,529	)		(489,144	)		(56,615	)
Call - OTC - 5 Yr. IRS		1.404	%	DBAG	3M LIBOR		Receive		03/10/20		(63,160,000	)		USD	(63,160,000	)		(437,262	)		(505,387	)		(68,125	)
Totals																	$	(1,232,151	)	$	(1,481,013	)	$	(248,862	)

Credit Default Swaptions	Strike Spread			Counterparty	Reference Obligation		Buy/Sell Protection		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - OTC - 5-Year CDS		0.475	%	BNP		ITRX.EUR.32		Buy		01/15/20		(1,800,000	)		EUR	(1,800,000	)	$	(1,061	)	$	(1,165	)	$	(104	)
Call - OTC - 5-Year CDS		0.475	%	DBAG		ITRX.EUR.32		Buy		01/15/20		(3,700,000	)		EUR	(3,700,000	)		(2,025	)		(2,394	)		(369	)
Put - OTC - 5-Year CDS		0.900	%	BBP		CDX.NA.IG.32		Sell		11/20/19		(2,900,000	)		USD	(2,900,000	)		(3,596	)		(381	)		3,215
Put - OTC - 5-Year CDS		0.900	%	BNP		CDX.NA.IG.32		Sell		11/20/19		(2,700,000	)		USD	(2,700,000	)		(3,456	)		(509	)		2,947
Put - OTC - 5-Year CDS		0.900	%	DBAG		CDX.NA.IG.32		Sell		11/20/19		(2,800,000	)		USD	(2,800,000	)		(3,492	)		(528	)		2,964
Put - OTC - 5-Year CDS		0.850	%	GSI		CDX.NA.IG.32		Sell		11/20/19		(3,900,000	)		USD	(3,900,000	)		(5,776	)		(915	)		4,861
Put - OTC - 5-Year CDS		0.900	%	GSI		CDX.NA.IG.32		Sell		11/20/19		(5,000,000	)		USD	(5,000,000	)		(6,400	)		(943	)		5,457
Put - OTC - 5-Year CDS		0.800	%	BNP		ITRX.EUR.32		Sell		01/15/20		(1,800,000	)		EUR	(1,800,000	)		(2,457	)		(2,166	)		291
Put - OTC - 5-Year CDS		0.800	%	DBAG		ITRX.EUR.32		Sell		01/15/20		(3,700,000	)		EUR	(3,700,000	)		(5,466	)		(4,452	)		1,014
Totals																		$	(33,729	)	$	(13,453	)	$	20,276

Options on Exchange-Traded Futures Contracts	Strike Price		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - U.S. Treasury Note 10-Year Futures		USD    130.000		10/25/19		(203	)		USD	(203,000	)	$	(161,564	)	$	(171,281	)	$	(9,717	)
Put - U.S. Treasury Note 10-Year Futures		USD    130.000		10/25/19		(203	)		USD	(203,000	)		(183,766	)		(107,844	)		75,922
Totals												$	(345,330	)	$	(279,125	)	$	66,205

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	12M CPURNSA		Maturity		1.998	%		Maturity		07/25/29		USD	21,500,000	$	542,863		$	3,534		$	539,329
Pay	12M CPURNSA		Maturity		1.954	%		Maturity		06/03/29		USD	8,650,000		165,710			—			165,710
Pay	12M CPURNSA		Annually		2.335	%		Annually		02/05/28		USD	13,090,000		427,643			28,402			399,241
Pay	12M CPURNSA		Maturity		2.370	%		Maturity		06/06/28		USD	6,400,000		424,184			(1,137	)		425,321
Pay	12M FRCPXT		Annually		1.910	%		Annually		01/15/38		EUR	350,000		73,244			2,830			70,414
Pay	12M HICP		Maturity		1.243	%		Maturity		08/15/39		EUR	2,590,000		19,285			—			19,285
Pay	12M HICP		Maturity		1.387	%		Maturity		08/15/49		EUR	1,270,000		37,650			—			37,650
Pay	12M HICP		Annually		1.535	%		Annually		03/15/28		EUR	370,000		25,106			—			25,106
Pay	12M HICP		Maturity		1.570	%		Maturity		03/15/39		EUR	590,000		59,923			—			59,923
Pay	12M HICP		Maturity		1.620	%		Maturity		05/15/28		EUR	1,670,000		129,637			105			129,532
Pay	12M HICP		Maturity		1.945	%		Maturity		11/15/48		EUR	1,230,000		392,652			—			392,652
Pay	12M HICP		Maturity		1.946	%		Maturity		03/15/48		EUR	2,100,000		673,391			5,192			668,199
Pay	12M HICP		Maturity		1.950	%		Maturity		11/15/48		EUR	2,040,000		656,910			6,761			650,149
Pay	12M UKRPI		Maturity		3.140	%		Maturity		04/15/31		GBP	600,000		(72,840	)		(63,551	)		(9,289	)
Pay	12M UKRPI		Annually		3.300	%		Annually		12/15/30		GBP	4,500,000		(287,393	)		(213,641	)		(73,752	)
Pay	12M UKRPI		Maturity		3.325	%		Maturity		08/15/30		GBP	12,100,000		(518,911	)		113,664			(632,575	)
Pay	12M UKRPI		Maturity		3.350	%		Maturity		05/15/30		GBP	10,300,000		(269,971	)		(54,185	)		(215,786	)

BHFTI-285

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (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)
Pay	12M UKRPI		Annually		3.358	%		Annually		04/15/35		GBP	2,900,000	$	(54,035	)	$	(64,562	)	$	10,527
Pay	12M UKRPI		Annually		3.400	%		Annually		06/15/30		GBP	15,300,000		(258,375	)		64,254			(322,629	)
Pay	12M UKRPI		Annually		3.470	%		Annually		09/15/32		GBP	7,240,000		(213,148	)		(23,095	)		(190,053	)
Pay	12M UKRPI		Annually		3.500	%		Annually		09/15/33		GBP	1,040,000		(22,463	)		758			(23,221	)
Pay	12M UKRPI		Maturity		3.530	%		Maturity		10/15/31		GBP	580,000		(12,833	)		15,822			(28,655	)
Pay	12M UKRPI		Maturity		3.572	%		Maturity		05/15/34		GBP	1,230,000		(21,624	)		—			(21,624	)
Pay	12M UKRPI		Maturity		3.579	%		Maturity		10/15/33		GBP	2,400,000		15,717			—			15,717
Pay	12M UKRPI		Maturity		3.580	%		Maturity		06/15/39		GBP	2,120,000		79,470			2,114			77,356
Pay	12M UKRPI		Maturity		3.590	%		Maturity		06/15/39		GBP	2,200,000		92,114			—			92,114
Pay	12M UKRPI		Maturity		3.600	%		Maturity		06/15/39		GBP	8,250,000		381,659			(1,833	)		383,492
Pay	12M UKRPI		Maturity		3.850	%		Maturity		09/15/24		GBP	13,900,000		17,059			(1,902	)		18,961
Pay	3M LIBOR		Quarterly		1.843	%		Semi-Annually		02/24/25		USD	57,350,000		1,054,825			—			1,054,825
Receive	12M CPURNSA		Maturity		1.445	%		Maturity		09/09/21		USD	22,380,000		34,268			—			34,268
Receive	12M CPURNSA		Maturity		1.592	%		Maturity		09/20/21		USD	28,400,000		(50,849	)		(2,327	)		(48,522	)
Receive	12M CPURNSA		Annually		1.550	%		Annually		07/26/21		USD	7,500,000		135,294			253,846			(118,552	)
Receive	12M CPURNSA		Annually		1.603	%		Annually		09/12/21		USD	5,870,000		78,486			176,800			(98,314	)
Receive	12M CPURNSA		Maturity		1.816	%		Maturity		05/13/21		USD	2,800,000		(9,061	)		—			(9,061	)
Receive	12M CPURNSA		Maturity		1.875	%		Maturity		03/14/21		USD	13,000,000		(40,660	)		—			(40,660	)
Receive	12M CPURNSA		Maturity		1.927	%		Maturity		03/18/21		USD	10,200,000		(41,377	)		—			(41,377	)
Receive	12M CPURNSA		Maturity		1.998	%		Maturity		03/22/21		USD	48,250,000		(258,383	)		—			(258,383	)
Receive	12M CPURNSA		Annually		2.021	%		Annually		11/25/20		USD	10,400,000		(34,271	)		—			(34,271	)
Receive	12M CPURNSA		Annually		2.027	%		Annually		11/23/20		USD	11,000,000		(37,494	)		—			(37,494	)
Receive	12M CPURNSA		Annually		2.069	%		Annually		07/15/22		USD	4,500,000		(57,921	)		—			(57,921	)
Receive	12M CPURNSA		Annually		2.210	%		Annually		02/05/23		USD	25,780,000		(673,356	)		—			(673,356	)
Receive	12M CPURNSA		Annually		2.263	%		Annually		04/27/23		USD	13,492,000		(437,519	)		(2,800	)		(434,719	)
Receive	12M FRCPXT		Annually		1.000	%		Annually		04/15/20		EUR	1,190,000		(2,322	)		—			(2,322	)
Receive	12M FRCPXT		Maturity		1.030	%		Maturity		03/15/24		EUR	10,500,000		(161,765	)		(4,076	)		(157,689	)
Receive	12M FRCPXT		Annually		1.160	%		Annually		08/15/20		EUR	530,000		(4,934	)		183			(5,117	)
Receive	12M FRCPXT		Annually		1.345	%		Annually		06/15/21		EUR	4,900,000		(82,246	)		—			(82,246	)
Receive	1D FEDRC		Annually		2.000	%		Annually		12/15/47		USD	9,630,000		(1,150,353	)		22,083			(1,172,436	)
Receive	1D FEDRC		Annually		2.428	%		Annually		12/20/47		USD	2,000,000		(438,490	)		—			(438,490	)
Receive	1D FEDRC		Annually		2.478	%		Annually		12/20/47		USD	4,834,000		(1,116,796	)		17,887			(1,134,683	)
Receive	1D FEDRC		Annually		2.499	%		Annually		12/20/47		USD	1,590,000		(375,239	)		—			(375,239	)
Receive	12M CPURNSA		Maturity		1.425	%		Maturity		08/06/20		USD	8,100,000		2,116			—			2,116
Receive	1M UKRPI		Maturity		3.598	%		Maturity		09/15/34		GBP	15,220,000		43,100			9,513			33,587
Receive	3M LIBOR		Semi-Annually		1.750	%		Quarterly		09/12/29		USD	120,200,000		(588,587	)		277,248			(865,835	)
Receive	3M LIBOR		Semi-Annually		1.850	%		Quarterly		07/27/26		USD	13,350,000		(244,915	)		—			(244,915	)
Receive	3M LIBOR		Semi-Annually		2.000	%		Quarterly		07/27/26		USD	54,110,000		(1,375,581	)		1,487,733			(2,863,314	)
Receive	3M LIBOR		Semi-Annually		2.150	%		Quarterly		06/19/48		USD	2,410,000		(241,203	)		—			(241,203	)
Receive	3M LIBOR		Semi-Annually		2.250	%		Quarterly		06/20/28		USD	28,730,000		(1,662,335	)		1,593,677			(3,256,012	)
Receive	3M LIBOR		Semi-Annually		2.250	%		Quarterly		12/11/49		USD	8,300,000		(1,067,012	)		(32,366	)		(1,034,646	)
Receive	3M LIBOR		Semi-Annually		2.250	%		Quarterly		03/12/50		USD	3,900,000		(502,615	)		(11,770	)		(490,845	)
Receive	3M LIBOR		Semi-Annually		2.400	%		Quarterly		12/07/26		USD	12,100,000		(523,772	)		137,159			(660,931	)
Receive	3M LIBOR		Semi-Annually		2.750	%		Quarterly		12/19/48		USD	300,000		(73,167	)		8,036			(81,203	)
Receive	3M NZDBB		Semi-Annually		3.250	%		Quarterly		03/21/28		NZD	8,400,000		(909,629	)		25,634			(935,263	)
Receive	6M LIBOR		Semi-Annually		0.300	%		Semi-Annually		09/20/27		JPY	788,000,000		(230,785	)		(14,261	)		(216,524	)
Receive	6M LIBOR		Semi-Annually		0.300	%		Semi-Annually		03/20/28		JPY	426,780,000		(128,115	)		(6,734	)		(121,381	)
Totals														$	(8,690,039	)	$	3,754,995		$	(12,445,034	)

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)

Receive

12M CPURNSA

Maturity

2.560

%

Maturity

05/08/23

DBAG

USD

12,300,000

$

(1,475,301

)

$

—

$

(1,475,301

)

BHFTI-286

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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 September 30, 2019(b)		Notional Amount(c)			Market Value		Upfront Premiums (Received)		Unrealized Appreciation/ (Depreciation)
CDX.NA.HY.31		(5.000%)		Quarterly	12/20/23		2.929%		USD	9,216,000	$	(723,115)	$	(446,612)	$	(276,503)
CDX.NA.HY.32		(5.000%)		Quarterly	06/20/24		3.275%		USD	45,738,000		(3,262,126)		(3,275,069)		12,943
CDX.NA.HY.33		(5.000%)		Quarterly	12/20/24		0.000%		USD	1,300,000		(87,200)		(87,438)		238
Totals											$	(4,072,441)	$	(3,809,119)	$	(263,322)

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 September 30, 2019(b)	Notional Amount(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Daimler AG 0.625%, due 03/05/20		1.000%		Quarterly		12/20/20	0.156%		EUR	890,000	$	10,176	$	14,752	$	(4,576)
Deutsche Bank AG 5.125%, due 08/31/17		1.000%		Quarterly		12/20/19	0.534%		EUR	400,000		457		373		84
General Electric Co. 2.700%, due 10/09/22		1.000%		Quarterly		12/20/20	0.393%		USD	500,000		3,702		(7,291)		10,993
General Electric Co. 2.700%, due 10/09/22		1.000%		Quarterly		12/20/23	0.980%		USD	1,000,000		796		(46,250)		47,046
Totals											$	15,131	$	(38,416)	$	53,547

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

Reference Obligation	Fixed Deal (Pay) Rate		Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2019(b)		Notional Amount(c)			Market Value		Upfront Premium Paid		Unrealized Depreciation
Mexico Government International Bonds 4.150%, due 3/28/27		(1.000%)		Quarterly		12/20/23	BNP		0.922%		USD	3,450,000	$	(10,796)	$	30,381	$	(41,177)
Mexico Government International Bonds 4.150%, due 3/28/27		(1.000%)		Quarterly		12/20/23	BBP		0.922%		USD	1,500,000		(4,694)		13,073		(17,767)
Mexico Government International Bonds 4.150%, due 3/28/27		(1.000%)		Quarterly		12/20/23	GSI		0.922%		USD	8,350,000		(26,130)		64,376		(90,506)
Totals													$	(41,620)	$	107,830	$	(149,450)

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 September 30, 2019 (b)			Notional Amount (c)			Market Value		Upfront Premium (Received)			Unrealized Appreciation
CMBX.NA.AAA.8		0.500	%		Monthly		10/17/57	DBAG		0.234	%		USD	7,900,000	$	101,106	$	(496,449	)	$	597,555
CMBX.NA.AAA.8		0.500	%		Monthly		10/17/57	GSI		0.234	%		USD	900,000		11,519		(46,593	)		58,112
Totals															$	112,625	$	(543,042	)	$	655,667

Cash in the amount of $6,534,000 has been received at the custodian bank as collateral for OTC swap contracts and forward foreign currency exchange contracts.
(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).

BHFTI-287

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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.
(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
(CNH)—	Chinese Renminbi
(COP)—	Colombian Peso
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(MYR)—	Malaysian Ringgit
(NZD)—	New Zealand Dollar
(PEN)—	Peruvian Nuevo Sol
(RUB)—	Russian Ruble
(SGD)—	Singapore Dollar
(TWD)—	Taiwanese Dollar
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(ARLLMON)—	Argentina Blended Historical Policy Rate
(BADLAR)—	Buenos Aires Deposits of Large Amount Rate Index
(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
(COFI)—	11th District Cost of Fund Index
(CPALEMU)—	Euro Area All Items Index Non-Seasonally Adjusted
(CPURNSA)—	U.S. Consumer Price Index for All Urban Consumers Non-Seasonally Adjusted
(EURIBOR)—	Euro InterBank Offered Rate
(FEDRC)—	U.S. Federal Funds Rate Compounded
(FRCPXT)—	France Consumer Price Ex-Tobacco Index
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(HICP)—	Harmonized Index of Consumer Prices
(ITRX.EUR)—	Markit iTraxx Europe CDS Index
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(NZDBB)—	New Zealand Dollar Bank Bill Index
(SONIA)—	Sterling Overnight Index Average Deposit Rate
(UKRPI)—	United Kingdom Retail Price Index

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(CDS)—	Credit Default Swap
(IRS)—	Interest Rate Swap
(REMIC)—	Real Estate Mortgage Investment Conduit
(YOY)—	Year-Over-Year Option

BHFTI-288

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	2,764,870,498		$	—	$	2,764,870,498
Total Corporate Bonds & Notes*		—			260,041,054			—		260,041,054
Total Foreign Government*		—			245,738,128			—		245,738,128
Total Asset-Backed Securities*		—			156,121,824			—		156,121,824
Total Mortgage-Backed Securities*		—			86,186,575			—		86,186,575
Total Convertible Preferred Stock*		1,370,241			—			—		1,370,241
Total Municipals*		—			713,991			—		713,991
Total Short-Term Investments*		—			139,786,314			—		139,786,314
Purchased Options
Credit Default Swaptions at Value		—			337			—		337
Options on Exchange-Traded Futures at Value		3,253			—			—		3,253
Interest Rate Swaptions at Value		—			842,090			—		842,090
Total Purchased Options	$	3,253		$	842,427		$	—	$	845,680
Total Investments	$	1,373,494		$	3,654,300,811		$	—	$	3,655,674,305
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	7,175,944		$	—	$	7,175,944
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(4,113,090	)		—		(4,113,090	)
Total Forward Contracts	$	—		$	3,062,854		$	—	$	3,062,854
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	6,748,667		$	—		$	—	$	6,748,667
Futures Contracts (Unrealized Depreciation)		(3,300,903	)		—			—		(3,300,903	)
Total Futures Contracts	$	3,447,764		$	—		$	—	$	3,447,764
Written Options
Credit Default Swaptions at Value	$	—		$	(13,453	)	$	—	$	(13,453	)
Inflation Capped Options at Value		—			(103,650	)		—		(103,650	)
Interest Rate Swaptions at Value		—			(1,481,013	)		—		(1,481,013	)
Options on Exchange-Traded Futures Contracts at Value		(279,125	)		—			—		(279,125	)
Total Written Options	$	(279,125	)	$	(1,598,116	)	$	—	$	(1,877,241	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	5,376,778		$	—	$	5,376,778
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(18,031,587	)		—		(18,031,587	)
Total Centrally Cleared Swap Contracts	$	—		$	(12,654,809	)	$	—	$	(12,654,809	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	112,625		$	—	$	112,625
OTC Swap Contracts at Value (Liabilities)		—			(1,516,921	)		—		(1,516,921	)
Total OTC Swap Contracts	$	—		$	(1,404,296	)	$	—	$	(1,404,296	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-289

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—81.5% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—50.6%
Fannie Mae 10 Yr. Pool
3.000%, 12/01/20		15,076	$	15,409
3.000%, 02/01/21		56,992		58,250
3.000%, 08/01/21		52,271		53,425
3.000%, 11/01/21		16,217		16,575
3.000%, 03/01/22		79,722		81,482
3.000%, 05/01/22		283,395		289,652
Fannie Mae 15 Yr. Pool
3.000%, 09/01/28		345,033		353,923
3.000%, 06/01/30		12,284,844		12,677,654
3.500%, 10/01/26		138,668		144,205
3.500%, 07/01/29		136,341		142,286
4.000%, 06/01/24		3,214		3,343
4.000%, 02/01/25		254,554		265,272
4.000%, 06/01/25		71,490		74,431
4.000%, 08/01/25		45,881		47,795
4.000%, 12/01/25		78,445		81,626
4.000%, 02/01/26		81,115		84,560
4.000%, 03/01/26		15,374		16,062
4.000%, 06/01/26		13,584		14,129
4.500%, 02/01/23		59,047		60,887
4.500%, 03/01/23		87,839		91,198
4.500%, 05/01/23		12,178		12,574
4.500%, 06/01/23		827		861
4.500%, 04/01/24		22,025		22,933
4.500%, 05/01/24		79,640		82,877
4.500%, 08/01/24		14,756		15,361
4.500%, 10/01/24		116,885		121,732
4.500%, 11/01/24		30,516		31,757
4.500%, 02/01/25		189,988		198,554
4.500%, 03/01/25		145,475		152,573
4.500%, 04/01/25		138,909		145,850
4.500%, 05/01/25		288,009		301,014
4.500%, 06/01/25		21,462		22,485
4.500%, 07/01/25		1,141,954		1,198,836
4.500%, 08/01/25		18,308		18,939
4.500%, 09/01/25		78,363		81,977
4.500%, 11/01/25		66,313		69,551
4.500%, 04/01/26		6,657		6,986
4.500%, 01/01/27		16,001		16,565
5.500%, 09/01/20		820		824
5.500%, 12/01/20		8		8
5.500%, 03/01/22		38,713		39,470
5.500%, 04/01/22		24,796		25,275
5.500%, 07/01/22		35,087		35,856
5.500%, 09/01/22		7,534		7,631
5.500%, 10/01/22		103,176		106,110
5.500%, 11/01/22		20,669		21,216
5.500%, 12/01/22		19,622		20,078
5.500%, 02/01/23		44,895		46,192
5.500%, 03/01/23		5,491		5,687
5.500%, 07/01/23		3,466		3,551
5.500%, 08/01/23		15,520		16,142
5.500%, 10/01/23		28,158		29,180
5.500%, 12/01/23		9,158		9,421
5.500%, 01/01/24		3,599		3,745
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 15 Yr. Pool
5.500%, 03/01/24		20,097		20,860
5.500%, 09/01/24		7,522		7,548
5.500%, 01/01/25		290,315		302,421
5.500%, 05/01/25		14,104		14,650
Fannie Mae 20 Yr. Pool
4.000%, 04/01/29		33,485		35,135
4.000%, 05/01/29		120,491		124,969
4.000%, 03/01/30		68,465		72,521
4.000%, 05/01/30		104,086		110,250
4.000%, 08/01/30		84,682		89,660
4.000%, 09/01/30		60,360		63,937
4.000%, 10/01/30		2,556		2,707
4.000%, 11/01/30		302,535		320,437
4.000%, 12/01/30		40,701		43,115
4.000%, 06/01/31		6,464		6,847
4.000%, 09/01/31		153,621		162,734
4.000%, 11/01/31		15,095		15,672
4.500%, 01/01/25		3,960		4,164
4.500%, 04/01/31		27,728		29,804
5.500%, 06/01/27		5,245		5,669
5.500%, 12/01/27		56,406		60,998
5.500%, 03/01/28		26,867		29,059
5.500%, 04/01/28		45,284		48,957
5.500%, 05/01/28		35,833		38,758
5.500%, 10/01/28		11,832		12,785
5.500%, 12/01/28		4,876		5,268
5.500%, 01/01/29		78,217		84,512
5.500%, 07/01/29		45,952		49,706
5.500%, 10/01/29		152,341		164,797
5.500%, 04/01/30		77,631		83,978
6.000%, 06/01/26		5,163		5,704
6.000%, 07/01/26		42,074		46,481
6.000%, 08/01/26		8,063		8,908
6.000%, 12/01/26		7,184		7,937
6.000%, 10/01/28		24,893		27,487
Fannie Mae 30 Yr. Pool
3.000%, 08/01/49		7,278,338		7,411,229
4.000%, 05/01/34		80,049		83,136
4.000%, 05/01/35		72,361		75,409
4.000%, 01/01/41		473,486		505,925
4.000%, 03/01/41		277,508		292,438
4.000%, 05/01/41		327,724		350,166
4.000%, 05/01/42		110,890		117,265
4.000%, 12/01/43		492,465		525,641
4.000%, 06/01/48		309,971		321,984
4.000%, 09/01/48		14,000,218		14,570,977
4.000%, 10/01/48		8,293,128		8,630,642
4.500%, 04/01/39		757,622		820,048
4.500%, 05/01/39		61,342		66,427
4.500%, 06/01/39		23,834		25,850
4.500%, 08/01/39		19,686		21,320
4.500%, 12/01/39		6,679		7,268
4.500%, 05/01/40		27,924		30,258
4.500%, 09/01/40		27,321		29,604
4.500%, 10/01/40		207,009		217,926

BHFTI-290

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.500%, 12/01/40		44,077	$	47,756
4.500%, 02/01/41		159,026		172,014
4.500%, 05/01/41		15,520		16,819
4.500%, 06/01/41		10,340		11,206
4.500%, 07/01/41		9,026		9,687
4.500%, 09/01/41		495,602		522,603
4.500%, 10/01/41		117,737		127,600
4.500%, 03/01/42		29,952		32,146
4.500%, 06/01/42		47,097		50,881
4.500%, 07/01/42		888,235		950,131
4.500%, 11/01/43		13,257		14,162
4.500%, 12/01/47		23,531,899		24,908,903
4.500%, 11/01/48		8,530,497		9,036,355
5.000%, 03/01/32		2,719		2,911
5.000%, 04/01/33		60,866		65,069
5.000%, 07/01/33		81,639		90,133
5.000%, 08/01/33		1,727		1,907
5.000%, 09/01/33		1,435		1,585
5.000%, 10/01/33		15,270		16,860
5.000%, 11/01/33		415		454
5.000%, 01/01/34		81,124		86,820
5.000%, 04/01/34		85,081		93,954
5.000%, 06/01/34		1,807		1,947
5.000%, 12/01/34		16,421		17,553
5.000%, 01/01/35		34,841		37,369
5.000%, 04/01/35		39		43
5.000%, 07/01/35		26,264		28,086
5.000%, 09/01/35		20,178		21,584
5.000%, 01/01/38		119,313		131,937
5.000%, 04/01/39		19,812		21,835
5.000%, 10/01/39		6,430		7,105
5.000%, 11/01/39		15,036		16,597
5.000%, 06/01/40		11,327		12,130
5.000%, 11/01/42		42,767		45,770
5.500%, 12/01/28		16,624		17,979
5.500%, 06/01/33		43,367		48,172
5.500%, 07/01/33		7,077		7,998
5.500%, 09/01/33		127,654		140,878
5.500%, 11/01/33		210,571		227,708
5.500%, 12/01/33		1,151		1,299
5.500%, 04/01/34		1,793		2,022
5.500%, 07/01/34		8,794		9,505
5.500%, 08/01/34		181,794		204,830
5.500%, 09/01/34		9,079		9,973
5.500%, 11/01/34		250,217		282,933
5.500%, 12/01/34		583,995		660,059
5.500%, 01/01/35		209,849		237,352
5.500%, 02/01/35		291,087		329,186
5.500%, 03/01/35		380,120		428,736
5.500%, 04/01/35		72,426		78,502
5.500%, 05/01/35		101,877		115,129
5.500%, 06/01/35		169,274		191,168
5.500%, 08/01/35		154,297		174,243
5.500%, 09/01/35		1,687,911		1,907,316
5.500%, 10/01/35		173,904		196,444
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.500%, 12/01/35		719,239		800,401
5.500%, 01/01/36		178,515		201,530
5.500%, 03/01/36		190,913		215,815
5.500%, 05/01/36		1,545		1,742
5.500%, 07/01/36		767,131		867,325
5.500%, 09/01/36		93,212		105,405
5.500%, 11/01/36		56,182		63,481
5.500%, 12/01/36		1,393		1,506
5.500%, 02/01/37		1,207		1,344
5.500%, 05/01/37		14,407		16,208
5.500%, 08/01/37		722,945		817,467
5.500%, 01/01/38		5,296		5,964
5.500%, 02/01/38		139,892		157,164
5.500%, 03/01/38		766,008		864,273
5.500%, 05/01/38		1,483,983		1,674,445
5.500%, 06/01/38		57,971		65,247
5.500%, 09/01/38		21,167		22,873
5.500%, 10/01/38		584,152		660,756
5.500%, 11/01/38		132,361		149,327
5.500%, 01/01/39		37,694		42,547
5.500%, 07/01/39		14,575		15,771
5.500%, 11/01/39		1,696,899		1,913,972
5.500%, 02/01/40		333,617		368,665
5.500%, 06/01/40		57,052		61,746
5.500%, 09/01/40		237,237		267,575
5.500%, 07/01/41		2,782,684		3,136,604
6.000%, 12/01/28		11,844		13,080
6.000%, 01/01/29		11,625		12,952
6.000%, 02/01/29		102		114
6.000%, 04/01/29		2,077		2,334
6.000%, 06/01/29		3,154		3,546
6.000%, 11/01/32		42,178		46,708
6.000%, 12/01/32		139,439		156,375
6.000%, 03/01/33		12,299		14,152
6.000%, 04/01/33		3,307		3,656
6.000%, 05/01/33		12,333		14,192
6.000%, 07/01/33		12,989		14,947
6.000%, 01/01/34		1,227		1,394
6.000%, 09/01/34		5,721		6,337
6.000%, 11/01/34		5,883		6,551
6.000%, 04/01/35		561,868		646,286
6.000%, 05/01/35		16,422		18,892
6.000%, 06/01/35		2,717		3,085
6.000%, 07/01/35		19,666		22,061
6.000%, 09/01/35		5,128		5,896
6.000%, 11/01/35		396,702		441,015
6.000%, 12/01/35		12,408		13,933
6.000%, 04/01/36		3,169		3,591
6.000%, 05/01/36		191,569		213,207
6.000%, 06/01/36		19,603		21,658
6.000%, 07/01/36		7,829		8,664
6.000%, 08/01/36		1,274,203		1,466,625
6.000%, 09/01/36		129,378		147,844
6.000%, 10/01/36		61,713		68,833
6.000%, 11/01/36		69,256		77,204

BHFTI-291

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
6.000%, 12/01/36		13,622	$	15,084
6.000%, 01/01/37		97,617		110,792
6.000%, 02/01/37		309,073		355,747
6.000%, 04/01/37		54,524		61,971
6.000%, 05/01/37		37,026		40,945
6.000%, 07/01/37		17,043		19,583
6.000%, 08/01/37		35,635		40,219
6.000%, 11/01/37		44,596		51,162
6.000%, 02/01/38		418,531		480,642
6.000%, 03/01/38		7,446		8,571
6.000%, 08/01/38		19,712		21,945
6.000%, 09/01/38		502,872		577,695
6.000%, 10/01/38		49,740		57,258
6.000%, 11/01/38		8,044		8,889
6.000%, 01/01/39		70,781		80,765
6.000%, 04/01/39		379,465		436,820
6.000%, 07/01/39		66,481		76,523
6.000%, 08/01/39		422,172		478,331
6.000%, 05/01/40		1,923		2,126
8.000%, 10/01/25		771		841
Fannie Mae ARM Pool
3.668%, 6M LIBOR + 1.373%, 09/01/35 (b)		622,154		636,344
3.683%, 12M MTA + 1.200%, 08/01/41 (b)		210,403		207,234
3.683%, 12M MTA + 1.200%, 07/01/42 (b)		199,747		203,649
3.683%, 12M MTA + 1.200%, 08/01/42 (b)		207,652		211,819
3.683%, 12M MTA + 1.200%, 10/01/44 (b)		263,703		269,152
3.733%, 12M MTA + 1.250%, 09/01/41 (b)		590,002		601,085
3.993%, 6M LIBOR + 1.412%, 06/01/33 (b)		17,027		17,499
4.105%, 6M LIBOR + 1.605%, 08/01/36 (b)		139,631		144,667
4.142%, 6M LIBOR + 1.513%, 01/01/35 (b)		97,312		100,522
4.163%, 6M LIBOR + 1.538%, 01/01/36 (b)		43,229		45,054
4.219%, 12M LIBOR + 1.344%, 11/01/34 (b)		3,081		3,229
4.225%, COFI + 1.927%, 12/01/36 (b)		93,204		96,555
4.231%, 12M LIBOR + 1.357%, 12/01/34 (b)		368,688		381,212
4.246%, 12M MTA + 1.770%, 11/01/35 (b)		120,881		126,089
4.270%, 12M LIBOR + 1.340%, 12/01/34 (b)		618,633		639,153
4.329%, 12M LIBOR + 1.557%, 10/01/34 (b)		6,978		7,289
4.357%, 1Y H15 + 2.074%, 10/01/35 (b)		130,202		136,626
4.379%, 12M LIBOR + 1.361%, 03/01/35 (b)		19,455		20,186
4.389%, 1Y H15 + 2.166%, 11/01/35 (b)		269,930		285,694
4.400%, 1Y H15 + 1.900%, 02/01/31 (b)		124,426		125,922
4.409%, 12M LIBOR + 1.750%, 08/01/35 (b)		267,073		281,280
4.435%, 1Y H15 + 2.067%, 10/01/28 (b)		65,867		67,311
4.531%, 1Y H15 + 2.156%, 07/01/32 (b)		18,142		18,499
4.533%, 12M LIBOR + 1.670%, 11/01/34 (b)		47,692		49,726
4.535%, 12M LIBOR + 1.660%, 05/01/34 (b)		275,693		291,127
4.580%, 12M LIBOR + 1.638%, 05/01/35 (b)		31,402		32,904
4.593%, 12M LIBOR + 1.625%, 01/01/35 (b)		10,893		11,378
4.595%, 12M LIBOR + 1.595%, 11/01/35 (b)		145,723		148,627
4.598%, 1Y H15 + 2.223%, 08/01/35 (b)		142,083		149,820
4.621%, 1Y H15 + 2.215%, 09/01/31 (b)		28,802		29,894
4.625%, 12M LIBOR + 1.678%, 12/01/34 (b)		23,010		24,086
4.649%, 12M LIBOR + 1.524%, 01/01/35 (b)		24,978		26,019
4.669%, 12M LIBOR + 1.618%, 03/01/33 (b)		1,722		1,779
4.673%, 12M LIBOR + 1.548%, 01/01/35 (b)		42,517		44,365
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae ARM Pool
4.685%, 12M LIBOR + 1.810%, 09/01/34 (b)		469,709		494,820
4.700%, 1Y H15 + 2.213%, 07/01/33 (b)		13,899		14,672
4.726%, 1Y H15 + 2.360%, 11/01/34 (b)		1,066,709		1,130,885
4.729%, 12M LIBOR + 1.638%, 02/01/35 (b)		18,856		19,779
4.733%, 12M LIBOR + 1.751%, 09/01/32 (b)		104,061		110,168
4.755%, 12M LIBOR + 1.634%, 01/01/35 (b)		34,808		36,362
4.760%, 12M LIBOR + 1.885%, 11/01/32 (b)		23,776		24,580
4.774%, 1Y H15 + 2.305%, 04/01/34 (b)		3,961		4,192
4.822%, 1Y H15 + 2.313%, 05/01/35 (b)		178,256		188,418
4.839%, 1Y H15 + 2.195%, 02/01/35 (b)		58,965		61,937
4.932%, 12M LIBOR + 1.810%, 04/01/35 (b)		58,748		61,914
5.064%, COFI + 1.718%, 09/01/34 (b)		13,177		13,953
Fannie Mae Pool
2.310%, 08/01/22		8,187,030		8,261,722
2.870%, 09/01/27		7,300,000		7,696,560
3.320%, 05/01/28		17,700,000		19,242,676
3.330%, 11/01/21		1,360,260		1,390,921
Fannie Mae REMICS (CMO)
2.441%, 1M LIBOR + 0.400%, 09/18/31 (b)		158,731		157,177
2.918%, 1M LIBOR + 0.900%, 04/25/32 (b)		49,360		50,135
4.393%, 05/25/35 (b)		519,933		547,446
Freddie Mac 20 Yr. Gold Pool
4.000%, 06/01/30		64,375		68,216
4.000%, 09/01/30		310,470		328,982
4.000%, 10/01/30		17,701		18,757
5.500%, 04/01/21		3,149		3,403
5.500%, 12/01/22		242		261
5.500%, 03/01/23		49,330		53,306
5.500%, 06/01/26		866		937
5.500%, 08/01/26		714		772
5.500%, 06/01/27		18,678		20,188
5.500%, 12/01/27		35,181		38,031
5.500%, 01/01/28		25,865		27,989
5.500%, 02/01/28		5,679		6,140
5.500%, 05/01/28		51,494		55,725
5.500%, 06/01/28		91,590		99,117
6.000%, 03/01/21		7,545		8,335
6.000%, 01/01/22		37,636		41,577
6.000%, 10/01/22		185,729		205,177
6.000%, 04/01/23		9,437		10,426
Freddie Mac 30 Yr. Gold Pool
4.000%, 12/01/40		199,719		213,490
4.500%, 04/01/34		16,382		17,712
4.500%, 06/01/35		54,007		58,546
4.500%, 04/01/41		123,932		134,287
4.500%, 10/01/41		90,675		97,485
5.500%, 03/01/32		7,469		8,076
5.500%, 01/01/33		1,087		1,208
5.500%, 05/01/33		1,158		1,303
5.500%, 08/01/33		1,373		1,551
5.500%, 10/01/33		2,400		2,656
5.500%, 01/01/34		1,283		1,418
5.500%, 09/01/34		17,243		19,028
5.500%, 01/01/35		24,656		27,901
5.500%, 07/01/35		1,381		1,563

BHFTI-292

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (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%, 10/01/35		29,775	$	32,194
5.500%, 11/01/35		46,880		51,454
5.500%, 12/01/35		33,533		37,884
5.500%, 01/01/36		22,758		25,706
5.500%, 02/01/36		34,298		37,111
5.500%, 04/01/36		14,095		15,910
5.500%, 06/01/36		1,205,832		1,364,587
5.500%, 07/01/36		25,085		28,390
5.500%, 08/01/36		61,506		68,358
5.500%, 10/01/36		12,654		14,300
5.500%, 12/01/36		183,082		206,959
5.500%, 02/01/37		17,667		19,944
5.500%, 03/01/37		12,413		14,004
5.500%, 04/01/37		31,898		34,809
5.500%, 06/01/37		52,676		58,498
5.500%, 07/01/37		168,707		190,359
5.500%, 08/01/37		61,088		69,024
5.500%, 09/01/37		10,823		12,220
5.500%, 10/01/37		7,585		8,563
5.500%, 11/01/37		188,529		212,987
5.500%, 12/01/37		7,997		8,915
5.500%, 01/01/38		59,549		67,188
5.500%, 02/01/38		153,771		173,628
5.500%, 03/01/38		66,145		73,958
5.500%, 04/01/38		149,788		168,955
5.500%, 05/01/38		76,160		84,112
5.500%, 06/01/38		235,496		265,821
5.500%, 07/01/38		301,375		339,989
5.500%, 08/01/38		816,149		921,789
5.500%, 09/01/38		222,910		251,497
5.500%, 10/01/38		6,358,442		7,173,380
5.500%, 11/01/38		2,253,851		2,539,221
5.500%, 12/01/38		5,792		6,259
5.500%, 01/01/39		530,249		598,553
5.500%, 02/01/39		81,385		90,008
5.500%, 03/01/39		58,947		66,537
5.500%, 06/01/39		1,964,036		2,217,203
5.500%, 09/01/39		39,058		43,377
5.500%, 02/01/40		68,886		77,720
5.500%, 03/01/40		10,152		11,440
5.500%, 05/01/40		2,032		2,293
5.500%, 08/01/40		65,596		74,025
Freddie Mac 30 Yr. Pool
4.000%, 09/01/48		4,470,958		4,637,398
4.000%, 10/01/48		4,647,139		4,832,599
4.000%, 11/01/48		8,792,030		9,124,804
4.000%, 01/01/49		11,766,673		12,221,591
Freddie Mac ARM Non-Gold Pool
3.820%, 12M LIBOR + 1.345%, 09/01/35 (b)		117,915		122,045
4.211%, 12M LIBOR + 1.961%, 08/01/32 (b)		44,915		46,410
4.510%, 1Y H15 + 2.107%, 10/01/34 (b)		27,095		28,430
4.595%, 1Y H15 + 2.222%, 09/01/35 (b)		218,435		229,804
4.684%, 12M LIBOR + 1.677%, 01/01/35 (b)		15,212		15,913
4.685%, 12M LIBOR + 1.900%, 11/01/34 (b)		6,350		6,632
4.689%, 1Y H15 + 2.250%, 11/01/31 (b)		14,792		15,564
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac ARM Non-Gold Pool
4.693%, 12M LIBOR + 1.890%, 11/01/34 (b)		18,369		19,339
4.722%, 1Y H15 + 2.465%, 01/01/29 (b)		199,720		205,783
4.722%, 12M LIBOR + 1.625%, 02/01/35 (b)		20,825		21,743
4.726%, 12M LIBOR + 1.900%, 11/01/34 (b)		14,029		14,783
4.746%, 12M LIBOR + 1.621%, 02/01/35 (b)		17,647		18,438
4.747%, 1Y H15 + 2.250%, 11/01/34 (b)		42,027		44,334
4.750%, 12M LIBOR + 1.625%, 02/01/35 (b)		7,453		7,771
4.754%, 1Y H15 + 2.250%, 06/01/35 (b)		504,442		533,255
4.795%, 12M LIBOR + 1.678%, 02/01/35 (b)		18,876		19,753
4.810%, 1Y H15 + 2.108%, 02/01/35 (b)		30,976		32,548
4.810%, 1Y H15 + 2.250%, 08/01/35 (b)		205,396		216,857
4.946%, 1Y H15 + 2.250%, 01/01/35 (b)		99,019		104,306
4.979%, 1Y H15 + 2.250%, 02/01/35 (b)		38,158		40,216
4.990%, 12M LIBOR + 1.901%, 02/01/35 (b)		26,032		27,443
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 1.372%, 08/25/22 (b) (c)		40,585,056		1,281,323
Freddie Mac REMICS (CMO)
2.278%, 1M LIBOR + 0.250%, 07/15/34 (b)		28,609		28,556
2.428%, 1M LIBOR + 0.400%, 06/15/41 (b)		7,259,858		7,262,852
3.500%, 01/15/42		26,145,447		27,846,634
4.125%, PRIME - 1.375%, 11/15/23 (b)		125,486		127,342
6.500%, 01/15/24		8,038		8,564
Freddie Mac Structured Pass-Through Securities (CMO)
3.492%, 12M MTA + 1.200%, 02/25/45 (b)		58,208		58,694
3.646%, 12M MTA + 1.200%, 10/25/44 (b)		658,492		665,604
3.846%, 12M MTA + 1.400%, 07/25/44 (b)		3,226,223		3,329,449
Ginnie Mae I 30 Yr. Pool
3.000%, TBA (a)		7,000,000		7,188,475
4.000%, TBA (a)		11,000,000		11,508,925
5.000%, 10/15/33		5,824		6,230
5.000%, 12/15/33		21,730		24,084
5.000%, 05/15/34		5,021		5,568
5.000%, 07/15/34		691		739
5.000%, 11/15/35		2,383		2,581
5.000%, 03/15/36		1,787		2,008
5.000%, 10/15/38		463,738		518,933
5.000%, 02/15/39		72,199		81,107
5.000%, 03/15/39		111,951		125,611
5.000%, 04/15/39		758,563		842,229
5.000%, 05/15/39		2,383,996		2,678,759
5.000%, 06/15/39		763,229		856,235
5.000%, 09/15/39		256,023		287,860
5.000%, 05/15/40		25,446		28,600
5.000%, 09/15/40		267,303		300,283
5.000%, 12/15/40		19,686		22,120
5.000%, 07/15/41		12,103		12,948
5.000%, 09/15/47		208,991		224,272
5.000%, TBA (a)		15,000,000		16,031,746
7.000%, 10/15/23		1,131		1,140
7.500%, 01/15/26		1,745		1,867
Ginnie Mae II 30 Yr. Pool
3.000%, TBA (a)		39,000,000		39,988,711
3.500%, TBA (a)		186,100,000		192,729,813
4.000%, 10/20/44		1,256,294		1,337,344

BHFTI-293

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
4.000%, 01/20/45		1,992,461	$	2,119,304
4.000%, 06/20/47		15,705,082		16,445,206
4.000%, 03/20/48		9,695,551		10,136,846
4.000%, 04/20/48		2,560,577		2,663,047
4.000%, 06/20/48		9,968,800		10,367,150
4.000%, 06/20/49		10,519,466		10,963,716
4.000%, TBA (a)		374,200,000		389,078,426
4.500%, 04/20/49		12,891,919		13,487,035
4.500%, TBA (a)		166,100,000		173,529,486
5.000%, 02/20/49		6,186,078		6,528,688
5.000%, 03/20/49		3,873,662		4,094,661
5.000%, 04/20/49		8,983,068		9,498,283
5.000%, 05/20/49		5,888,639		6,248,820
5.000%, 06/20/49		2,975,232		3,157,310
5.000%, TBA (a)		134,550,000		141,787,382
Ginnie Mae II ARM Pool
3.750%, 1Y H15 + 1.500%, 08/20/27 (b)		27,448		28,393
3.750%, 1Y H15 + 1.500%, 09/20/27 (b)		51,932		52,147
3.750%, 1Y H15 + 1.500%, 07/20/29 (b)		5,577		5,788
3.750%, 1Y H15 + 1.500%, 08/20/29 (b)		5,771		5,990
3.750%, 1Y H15 + 1.500%, 09/20/29 (b)		9,299		9,370
3.750%, 1Y H15 + 1.500%, 08/20/31 (b)		1,534		1,596
3.750%, 1Y H15 + 1.500%, 07/20/32 (b)		3,736		3,779
3.750%, 1Y H15 + 1.500%, 09/20/33 (b)		31,318		32,637
3.875%, 1Y H15 + 1.500%, 04/20/22 (b)		213		213
3.875%, 1Y H15 + 1.500%, 05/20/26 (b)		8,533		8,567
3.875%, 1Y H15 + 1.500%, 06/20/27 (b)		3,041		3,142
3.875%, 1Y H15 + 1.500%, 05/20/28 (b)		3,420		3,541
3.875%, 1Y H15 + 1.500%, 04/20/29 (b)		388		388
3.875%, 1Y H15 + 1.500%, 05/20/29 (b)		5,581		5,787
3.875%, 1Y H15 + 1.500%, 04/20/30 (b)		9,504		9,862
3.875%, 1Y H15 + 1.500%, 05/20/30 (b)		17,965		18,655
3.875%, 1Y H15 + 1.500%, 06/20/30 (b)		6,426		6,672
3.875%, 1Y H15 + 1.500%, 04/20/31 (b)		6,897		6,919
3.875%, 1Y H15 + 1.500%, 04/20/32 (b)		4,491		4,538
3.875%, 1Y H15 + 1.500%, 05/20/32 (b)		7,529		7,537
4.000%, 1Y H15 + 1.500%, 02/20/22 (b)		3,432		3,449
4.000%, 1Y H15 + 1.500%, 01/20/23 (b)		5,720		5,823
4.000%, 1Y H15 + 1.500%, 02/20/26 (b)		5,250		5,378
4.000%, 1Y H15 + 1.500%, 01/20/27 (b)		2,622		2,648
4.000%, 1Y H15 + 1.500%, 02/20/27 (b)		1,456		1,462
4.000%, 1Y H15 + 1.500%, 02/20/28 (b)		7,121		7,132
4.000%, 1Y H15 + 1.500%, 03/20/28 (b)		7,704		7,768
4.000%, 1Y H15 + 1.500%, 01/20/30 (b)		20,044		20,763
4.000%, 1Y H15 + 1.500%, 03/20/32 (b)		308		320
4.000%, 1Y H15 + 1.500%, 03/20/33 (b)		2,925		3,043
4.125%, 1Y H15 + 1.500%, 11/20/26 (b)		10,136		10,199
4.125%, 1Y H15 + 1.500%, 11/20/27 (b)		8,722		8,870
4.125%, 1Y H15 + 1.500%, 10/20/28 (b)		3,629		3,613
4.125%, 1Y H15 + 1.500%, 10/20/29 (b)		3,860		3,996
4.125%, 1Y H15 + 1.500%, 10/20/30 (b)		2,429		2,441
4.125%, 1Y H15 + 1.500%, 11/20/30 (b)		22,094		22,305
4.625%, 1Y H15 + 2.000%, 10/20/31 (b)		4,883		4,912
Agency Sponsored Mortgage-Backed—(Continued)
Government National Mortgage Association (CMO)
2.569%, 1M LIBOR + 0.340%, 12/20/62 (b)		255,629		254,901
2.829%, 1M LIBOR + 0.600%, 08/20/65 (b)		3,309,285		3,306,062
2.829%, 1M LIBOR + 0.600%, 10/20/65 (b)		7,870,378		7,893,239
2.879%, 1M LIBOR + 0.650%, 06/20/66 (b)		5,808,722		5,827,852
3.079%, 1M LIBOR + 0.850%, 09/20/66 (b)		9,050,022		9,132,358
3.229%, 1M LIBOR + 1.000%, 12/20/65 (b)		22,930,271		23,255,966
3.229%, 1M LIBOR + 1.000%, 01/20/67 (b)		10,691,216		10,853,282
3.628%, 12M LIBOR + 0.800%, 09/20/67 (b)		9,805,086		9,969,744
5.236%, 09/20/66 (b)		11,552,288		12,674,887
Uniform Mortgage-Backed Securities
3.000%, TBA (a)		373,200,000		378,851,747
3.500%, TBA (a)		579,100,000		594,671,025
4.000%, TBA (a)		271,530,000		281,935,492
5.500%, TBA (a)		12,500,000		13,532,715
6.000%, TBA (a)		6,500,000		7,192,402
				2,686,477,905
U.S. Treasury—30.9%
U.S. Treasury Bonds
2.750%, 08/15/42 (d) (e)		39,000,000		43,824,727
2.750%, 11/15/42 (d) (e) (f)		63,400,000		71,193,742
2.875%, 05/15/43 (d) (e)		83,700,000		96,029,403
3.000%, 11/15/44 (d) (e) (g) (h)		50,400,000		59,241,656
3.000%, 02/15/48 (d) (e)		23,600,000		28,043,437
3.125%, 02/15/42 (d)		15,800,000		18,850,141
3.125%, 02/15/43 (d) (e)		20,000,000		23,869,531
3.125%, 08/15/44 (d) (e)		116,300,000		139,450,969
3.625%, 08/15/43 (e) (f)		21,900,000		28,264,687
3.750%, 11/15/43 (d) (e)		28,100,000		36,987,723
4.250%, 05/15/39 (d) (e)		9,600,000		13,231,125
4.375%, 11/15/39 (d) (e)		57,100,000		80,151,895
4.375%, 05/15/40 (e) (g) (h)		11,900,000		16,748,320
4.500%, 08/15/39 (d) (e)		15,100,000		21,489,777
4.625%, 02/15/40 (e)		12,800,000		18,539,500
U.S. Treasury Inflation Indexed Bonds
0.750%, 02/15/42 (i)		27,590,220		29,192,100
0.750%, 02/15/45 (h) (i) (j)		6,319,100		6,644,764
0.875%, 02/15/47 (i)		20,406,144		22,180,475
1.000%, 02/15/48 (e) (i)		32,772,285		36,811,466
1.375%, 02/15/44 (i)		6,715,002		8,050,043
U.S. Treasury Inflation Indexed Notes
0.375%, 01/15/27 (e) (i)		21,772,845		22,035,687
0.375%, 07/15/27 (i)		10,488,000		10,664,364
0.625%, 04/15/23 (i)		42,037,809		42,393,163
0.625%, 01/15/26 (e) (i)		23,538,114		24,148,824
0.750%, 07/15/28 (e) (i)		81,387,434		85,555,503
0.875%, 01/15/29 (e) (i)		128,633,196		136,717,789
1.000%, 02/15/49 (e) (i)		7,238,876		8,191,236
U.S. Treasury Notes
1.375%, 03/31/20 (d) (e) (f) (h) (k)		22,000,000		21,946,719
1.750%, 09/30/22 (f) (g) (h) (j) (k)		20,400,000		20,503,594
1.750%, 06/30/24 (e)		38,200,000		38,529,773
1.875%, 07/31/22 (e) (f) (h) (j) (k)		102,600,000		103,377,515
1.875%, 08/31/22 (f) (h) (j) (k)		31,200,000		31,463,250

BHFTI-294

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes
2.000%, 10/31/22 (f) (g) (h) (j) (k)		3,300,000	$	3,340,863
2.125%, 07/31/24 (e) (f) (k)		24,800,000		25,439,375
2.125%, 09/30/24 (e) (j)		89,200,000		91,562,407
2.250%, 11/15/24 (e) (k)		114,200,000		117,965,031
2.250%, 08/15/27 (e) (g) (h) (j)		24,360,000		25,467,619
2.625%, 02/15/29 (e)		29,260,000		31,676,236
				1,639,774,429
Total U.S. Treasury & Government Agencies (Cost $4,248,631,935)				4,326,252,334
Corporate Bonds & Notes—52.4%
Advertising—0.0%
Interpublic Group of Cos., Inc. (The) 3.750%, 10/01/21		1,400,000		1,435,172
Aerospace/Defense—0.5%
United Technologies Corp.
3.100%, 06/01/22		12,717,000		13,092,312
3.650%, 08/16/23		12,300,000		13,010,573
				26,102,885
Agriculture—1.0%
BAT Capital Corp.
2.764%, 08/15/22		15,200,000		15,344,197
3.557%, 08/15/27		3,700,000		3,720,485
BAT International Finance plc
2.750%, 06/15/20 (144A)		3,200,000		3,209,494
3.250%, 06/07/22 (144A)		3,172,000		3,240,400
Imperial Brands Finance plc
2.950%, 07/21/20 (144A)		2,200,000		2,207,976
3.125%, 07/26/24 (144A)		6,300,000		6,313,392
3.875%, 07/26/29 (144A)		12,800,000		12,902,038
Reynolds American, Inc. 6.875%, 05/01/20		4,400,000		4,515,102
				51,453,084
Airlines—0.3%
Delta Air Lines Pass-Through Trust 6.821%, 08/10/22		12,072,832		13,251,140
Latam Airlines Pass-Through Trust
4.200%, 11/15/27		2,786,693		2,850,230
4.500%, 11/15/23		1,912,347		1,910,626
				18,011,996
Auto Manufacturers—5.4%
BMW Finance NV 2.250%, 08/12/22 (144A)		13,500,000		13,511,870
BMW U.S. Capital LLC 1.850%, 09/15/21 (144A)		2,700,000		2,687,612
Daimler Finance North America LLC
2.550%, 08/15/22 (144A)		16,100,000		16,161,502
Auto Manufacturers—(Continued)
Daimler Finance North America LLC
2.875%, 03/10/21 (144A)		4,200,000		4,234,262
3.030%, 3M LIBOR + 0.880%, 02/22/22 (144A) (b)		16,100,000		16,181,218
3.400%, 02/22/22 (144A)		16,100,000		16,471,016
3.750%, 11/05/21 (144A)		3,400,000		3,495,632
FCE Bank plc 1.875%, 06/24/21 (EUR)		1,400,000		1,558,085
Ford Motor Credit Co. LLC
0.030%, 3M EURIBOR + 0.430%, 05/14/21 (EUR) (b)		2,500,000		2,701,578
3.065%, 3M LIBOR + 0.930%, 09/24/20 (b)		14,000,000		13,999,622
3.099%, 3M LIBOR + 0.810%, 04/05/21 (b)		3,200,000		3,162,523
3.157%, 08/04/20		2,300,000		2,305,697
3.200%, 01/15/21		5,000,000		5,006,560
3.367%, 3M LIBOR + 1.080%, 08/03/22 (b)		2,700,000		2,642,196
3.393%, 3M LIBOR + 1.235%, 02/15/23 (b)		13,000,000		12,604,540
4.250%, 09/20/22		3,600,000		3,685,962
5.443%, 3M LIBOR + 3.140%, 01/07/22 (b)		13,300,000		13,669,836
General Motors Financial Co., Inc.
2.450%, 11/06/20		12,100,000		12,093,886
3.150%, 01/15/20		12,300,000		12,318,294
3.200%, 07/13/20		18,300,000		18,400,586
3.414%, 3M LIBOR + 1.310%, 06/30/22 (b)		1,100,000		1,100,594
3.550%, 04/09/21		7,090,000		7,193,051
3.550%, 07/08/22		13,400,000		13,688,010
Harley-Davidson Financial Services, Inc. 3.078%, 3M LIBOR + 0.940%, 03/02/21 (144A) (b)		13,600,000		13,614,708
Toyota Motor Credit Corp. 2.934%, 3M LIBOR + 0.830%, 03/29/21 (l) (m)		5,400,000		5,400,789
Volkswagen Bank GmbH
1.875%, 01/31/24 (EUR)		4,600,000		5,284,415
2.500%, 07/31/26 (EUR)		3,000,000		3,589,316
Volkswagen Group of America Finance LLC
2.850%, 09/26/24 (144A)		13,300,000		13,370,454
3.121%, 3M LIBOR + 0.940%, 11/12/21 (144A) (b)		13,600,000		13,675,286
3.875%, 11/13/20 (144A)		2,500,000		2,540,686
4.000%, 11/12/21 (144A)		1,000,000		1,033,460
4.625%, 11/13/25 (144A)		13,600,000		14,992,455
4.750%, 11/13/28 (144A)		13,600,000		15,132,800
				287,508,501
Auto Parts & Equipment—0.0%
ZF North America Capital, Inc. 4.000%, 04/29/20 (144A)		800,000		805,207
Banks—21.2%
ABN AMRO Bank NV 3.400%, 08/27/21 (144A)		14,900,000		15,210,693
Australia & New Zealand Banking Group, Ltd. 3.300%, 05/17/21		14,400,000		14,696,035
Banco Espirito Santo S.A.
2.625%, 05/08/17 (EUR) (n)		1,700,000		352,054
4.750%, 01/15/18 (EUR) (n)		3,100,000		641,981
Bank of America Corp.
2.749%, 3M LIBOR + 0.650%, 10/01/21 (b)		18,000,000		18,055,295
3.283%, 3M LIBOR + 1.000%, 04/24/23 (b)		18,000,000		18,141,421

BHFTI-295

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Bank of America Corp.
3.550%, 3M LIBOR + 0.780%, 03/05/24 (b)		4,200,000	$	4,367,822
4.125%, 01/22/24		2,130,000		2,294,609
Bank of Ireland 7.375%, 5Y EUR Swap + 6.956%, 06/18/20 (EUR) (b)		1,200,000		1,358,191
Barclays Bank plc
7.625%, 11/21/22		1,500,000		1,653,750
10.179%, 06/12/21 (144A)		17,900,000		20,018,291
Barclays plc
2.375%, 1Y GBP Swap + 1.320%, 10/06/23 (GBP) (b)		2,600,000		3,223,554
3.125%, 01/17/24 (GBP)		4,400,000		5,631,504
3.200%, 08/10/21		5,000,000		5,044,000
3.548%, 3M LIBOR + 1.380%, 05/16/24 (b)		100,000		99,496
4.291%, 3M LIBOR + 2.110%, 08/10/21 (b)		6,400,000		6,528,306
4.338%, 3M LIBOR + 1.356%, 05/16/24 (b)		700,000		731,273
4.610%, 3M LIBOR + 1.400%, 02/15/23 (b)		18,200,000		18,907,434
4.972%, 3M LIBOR + 1.902%, 05/16/29 (b)		2,000,000		2,195,048
BBVA Bancomer S.A. 6.500%, 03/10/21		1,873,000		1,952,621
BBVA U.S.A. 2.868%, 3M LIBOR + 0.730%, 06/11/21 (b)		14,400,000		14,398,581
BNP Paribas S.A.
2.950%, 05/23/22 (144A)		14,200,000		14,424,525
3.500%, 03/01/23 (144A)		14,400,000		14,864,020
BPCE S.A. 4.000%, 09/12/23 (144A)		17,000,000		17,908,334
Capital One Financial Corp.
2.716%, 3M LIBOR + 0.450%, 10/30/20 (b)		14,900,000		14,923,275
4.250%, 04/30/25		10,000,000		10,822,967
CIT Group, Inc.
4.125%, 03/09/21		11,500,000		11,701,250
5.250%, 03/07/25		11,000,000		12,003,200
Citibank N.A.
2.844%, 3M LIBOR + 0.596%, 05/20/22 (b)		13,300,000		13,436,323
3.400%, 07/23/21		14,800,000		15,159,251
Citigroup, Inc.
2.946%, 3M LIBOR + 0.690%, 10/27/22 (b)		10,600,000		10,613,462
3.236%, 3M LIBOR + 0.960%, 04/25/22 (b)		18,000,000		18,190,152
Cooperative Rabobank UA
3.875%, 09/26/23 (144A)		1,200,000		1,271,579
4.750%, 01/15/20 (144A)		1,700,000		1,712,997
5.500%, 5Y EUR Swap + 5.250%, 06/29/20 (EUR) (b)		5,000,000		5,609,865
6.625%, -1 x 5Y EUR Swap + 6.697%, 06/29/21 (EUR) (b)		600,000		712,659
Credit Suisse Group AG
3.372%, 3M LIBOR + 1.240%, 06/12/24 (144A) (b)		10,400,000		10,466,856
4.207%, 3M LIBOR + 1.240%, 06/12/24 (144A) (b)		15,700,000		16,536,977
7.250%, 5Y USD Swap + 4.332%, 09/12/25 (144A) (b)		5,500,000		5,885,000
Credit Suisse Group Funding Guernsey, Ltd.
3.750%, 03/26/25		5,710,000		6,000,341
3.800%, 09/15/22		18,300,000		19,013,140
3.800%, 06/09/23		12,100,000		12,634,848
Deutsche Bank AG
2.700%, 07/13/20		17,200,000		17,164,643
3.150%, 01/22/21		8,200,000		8,181,468
Banks—(Continued)
Deutsche Bank AG
3.300%, 11/16/22		9,500,000		9,443,239
3.375%, 05/12/21		30,500,000		30,411,863
4.250%, 02/04/21		7,800,000		7,876,200
4.250%, 10/14/21		7,700,000		7,811,089
Erste Group Bank AG 8.875%, 5Y EUR Swap + 9.020%, 10/15/21 (EUR) (b)		4,600,000		5,734,160
Goldman Sachs Group, Inc. (The)
2.876%, 3M LIBOR + 0.821%, 10/31/22 (b)		13,700,000		13,858,646
3.200%, 02/23/23		15,100,000		15,508,391
3.750%, 05/22/25		5,375,000		5,692,225
HSBC Holdings plc
2.724%, 3M LIBOR + 0.600%, 05/18/21 (b)		13,900,000		13,914,311
3.033%, 3M LIBOR + 0.923%, 11/22/23 (b)		7,100,000		7,205,182
3.400%, 03/08/21		14,900,000		15,127,970
3.789%, 3M LIBOR + 1.500%, 01/05/22 (b)		11,500,000		11,715,328
4.342%, 3M LIBOR + 2.240%, 03/08/21 (b)		9,600,000		9,840,677
Industrial & Commercial Bank of China, Ltd. 2.992%, 3M LIBOR + 0.875%, 11/29/19 (b)		2,700,000		2,701,161
ING Groep NV
4.100%, 10/02/23		14,000,000		14,862,386
4.625%, 01/06/26 (144A)		7,900,000		8,739,045
JPMorgan Chase & Co.
2.755%, 3M LIBOR + 0.610%, 06/18/22 (b)		17,200,000		17,252,362
3.176%, 3M LIBOR + 0.900%, 04/25/23 (b)		8,000,000		8,045,098
3.202%, 3M LIBOR + 1.100%, 06/07/21 (b)		17,000,000		17,200,629
3.514%, 3M LIBOR + 0.610%, 06/18/22 (b)		17,200,000		17,603,345
3.797%, 3M LIBOR + 0.890%, 07/23/24 (b)		4,400,000		4,643,801
JPMorgan Chase Bank N.A. 2.607%, 3M LIBOR + 0.340%, 04/26/21 (b)		25,000,000		25,013,326
Lloyds Bank plc
3.300%, 05/07/21		12,900,000		13,122,225
7.500%, 04/02/32 (o)		13,000,000		10,648,187
Lloyds Banking Group plc
4.050%, 08/16/23		14,900,000		15,658,021
6.375%, 5Y EUR Swap + 5.290%, 06/27/20 (EUR) (b)		3,800,000		4,259,745
7.625%, 5Y GBP Swap + 5.010%, 06/27/23 (GBP) (b)		11,400,000		15,243,340
Mitsubishi UFJ Financial Group, Inc.
2.527%, 09/13/23		13,400,000		13,513,394
3.455%, 03/02/23		17,700,000		18,319,764
Morgan Stanley
2.720%, SOFR + 1.152%, 07/22/25 (b)		15,100,000		15,274,227
3.737%, 3M LIBOR + 0.847%, 04/24/24 (b)		17,500,000		18,275,444
National Australia Bank, Ltd. 3.625%, 06/20/23		14,800,000		15,565,290
Oversea-Chinese Banking Corp., Ltd. 2.574%, 3M LIBOR + 0.450%, 05/17/21 (144A) (b)		11,500,000		11,514,030
Regions Bank 3.374%, 3M LIBOR + 0.500%, 08/13/21 (b)		14,600,000		14,727,396
Royal Bank of Scotland Group plc
2.000%, 3M EURIBOR + 2.039%, 03/08/23 (EUR) (b)		3,300,000		3,731,401
2.500%, 03/22/23 (EUR)		11,943,000		13,929,863
Santander UK Group Holdings plc 2.875%, 10/16/20		1,800,000		1,805,645
Skandinaviska Enskilda Banken AB 3.250%, 05/17/21 (144A)		14,600,000		14,840,602

BHFTI-296

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Societe Generale S.A.
2.625%, 09/16/20 (144A)		300,000	$	301,634
4.250%, 09/14/23 (144A)		13,900,000		14,749,362
Standard Chartered plc
2.744%, 3M LIBOR + 1.200%, 09/10/22 (144A) (b)		13,500,000		13,513,905
4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (b)		14,300,000		14,784,755
Sumitomo Mitsui Financial Group, Inc.
2.696%, 07/16/24		12,900,000		13,046,515
2.934%, 03/09/21		15,100,000		15,234,847
Svenska Handelsbanken AB 3.350%, 05/24/21		15,000,000		15,301,504
Synchrony Bank 3.650%, 05/24/21		14,900,000		15,185,798
UBS AG
2.450%, 12/01/20 (144A)		9,700,000		9,733,201
7.625%, 08/17/22		3,600,000		4,063,320
UBS Group Funding Switzerland AG
3.000%, 04/15/21 (144A)		14,000,000		14,167,691
4.125%, 04/15/26 (144A)		10,200,000		11,096,191
UniCredit S.p.A. 7.830%, 12/04/23 (144A)		29,700,000		34,656,633
Wells Fargo & Co.
3.000%, 02/19/25		11,200,000		11,500,244
5.889%, 3M LIBOR + 3.770%, 12/15/19 (b)		6,075,000		6,150,938
Wells Fargo Bank N.A.
2.082%, 3M LIBOR + 0.650%, 09/09/22 (b)		13,300,000		13,268,290
2.897%, 3M LIBOR + 0.610%, 05/27/22 (b)		16,100,000		16,280,782
3.325%, 3M LIBOR + 0.490%, 07/23/21 (b)		14,600,000		14,732,458
				1,123,136,167
Beverages—0.4%
Keurig Dr Pepper, Inc. 4.057%, 05/25/23		14,600,000		15,448,514
Pernod Ricard S.A.
4.250%, 07/15/22 (144A)		4,000,000		4,211,022
4.450%, 01/15/22 (144A)		1,700,000		1,783,510
				21,443,046
Building Materials—0.0%
Holcim U.S. Finance Sarl & Cie SCS 6.000%, 12/30/19 (144A)		1,500,000		1,511,863
Chemicals—0.2%
International Flavors & Fragrances, Inc. 3.400%, 09/25/20		8,200,000		8,293,671
Commercial Services—0.6%
Central Nippon Expressway Co., Ltd. 2.826%, 3M LIBOR + 0.560%, 11/02/21 (b)		2,600,000		2,601,066
Equifax, Inc. 3.600%, 08/15/21		3,645,000		3,714,583
ERAC USA Finance LLC 2.350%, 10/15/19 (144A)		10,138,000		10,138,639
PayPal Holdings, Inc. 2.400%, 10/01/24		13,300,000		13,344,177
				29,798,465
Computers—0.8%
Apple, Inc. 3.000%, 06/20/27		8,300,000		8,729,104
Dell International LLC / EMC Corp.
4.420%, 06/15/21 (144A)		17,700,000		18,250,038
5.450%, 06/15/23 (144A)		9,600,000		10,453,661
EMC Corp. 2.650%, 06/01/20		4,090,000		4,086,799
				41,519,602
Diversified Financial Services—3.4%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300%, 01/23/23		3,800,000		3,875,302
4.125%, 07/03/23		6,300,000		6,608,187
4.450%, 10/01/25		15,000,000		16,003,252
4.625%, 10/30/20		5,300,000		5,425,390
4.625%, 07/01/22		3,225,000		3,405,482
Air Lease Corp.
3.500%, 01/15/22		2,000,000		2,051,326
3.875%, 07/03/23		1,700,000		1,772,507
Aircastle, Ltd. 5.500%, 02/15/22		4,498,000		4,786,270
Ally Financial, Inc.
3.750%, 11/18/19		1,700,000		1,701,700
4.125%, 03/30/20		300,000		301,875
American Express Co.
2.500%, 07/30/24		5,100,000		5,141,571
3.375%, 05/17/21		14,200,000		14,484,006
Avolon Holdings Funding, Ltd. 5.500%, 01/15/23 (144A)		1,600,000		1,707,216
B3 S.A. Brasil Bolsa Balcao 5.500%, 07/16/20		1,000,000		1,020,010
Capital One Financial Corp. 2.400%, 10/30/20		14,700,000		14,741,607
Daiwa Securities Group, Inc. 3.129%, 04/19/22 (144A)		17,900,000		18,185,779
Emerald Bay S.A. Zero Coupon, 10/08/20 (144A) (EUR)		3,294,000		3,518,491
GE Capital UK Funding Unlimited Co. 5.875%, 11/04/20 (GBP)		10,800,000		13,873,209
Intercontinental Exchange, Inc. 2.350%, 09/15/22		12,500,000		12,588,241
International Lease Finance Corp. 4.625%, 04/15/21		2,000,000		2,059,472
Mitsubishi UFJ Lease & Finance Co., Ltd.
3.406%, 02/28/22 (144A)		200,000		203,928
3.960%, 09/19/23 (144A)		4,310,000		4,501,352
Navient Corp. 8.000%, 03/25/20		1,500,000		1,530,000
Park Aerospace Holdings, Ltd. 4.500%, 03/15/23 (144A)		9,000,000		9,313,200
Springleaf Finance Corp.
6.125%, 05/15/22		9,100,000		9,737,000
6.875%, 03/15/25		11,800,000		13,002,125

BHFTI-297

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
Springleaf Finance Corp.
8.250%, 12/15/20		7,000,000	$	7,437,500
				178,975,998
Electric—2.9%
Consolidated Edison, Inc. 2.506%, 3M LIBOR + 0.400%, 06/25/21 (b)		3,010,000		3,020,150
Duke Energy Corp.
2.788%, 3M LIBOR + 0.650%, 03/11/22 (b)		13,500,000		13,572,311
3.550%, 09/15/21		992,000		1,015,315
Enel Finance International NV
2.875%, 05/25/22 (144A)		9,000,000		9,119,291
4.250%, 09/14/23 (144A)		14,900,000		15,825,464
Entergy Corp. 5.125%, 09/15/20		1,000,000		1,020,255
Evergy, Inc. 2.450%, 09/15/24		13,500,000		13,476,623
Eversource Energy
2.750%, 03/15/22		6,100,000		6,178,694
FirstEnergy Corp. 3.900%, 07/15/27		1,300,000		1,385,320
IPALCO Enterprises, Inc. 3.450%, 07/15/20		7,653,000		7,697,048
NextEra Energy Capital Holdings, Inc.
2.403%, 09/01/21		7,500,000		7,545,993
2.544%, 3M LIBOR + 0.400%, 08/21/20 (b)		17,100,000		17,100,879
3.200%, 02/25/22		13,500,000		13,805,825
3.250%, 04/01/26		2,800,000		2,908,592
Progress Energy, Inc. 4.400%, 01/15/21		3,600,000		3,684,780
Public Service Enterprise Group, Inc. 2.650%, 11/15/22		2,700,000		2,737,832
Sempra Energy 2.569%, 3M LIBOR + 0.450%, 03/15/21 (b)		17,600,000		17,542,556
Southern Co. (The) 2.350%, 07/01/21		5,812,000		5,829,464
Southern Power Co. 1.950%, 12/15/19		10,900,000		10,895,767
				154,362,159
Electronics—0.1%
Arrow Electronics, Inc. 3.250%, 09/08/24		6,150,000		6,251,970
Energy-Alternate Sources—0.2%
Azure Power Solar Energy Pvt. Ltd. 5.650%, 12/24/24 (144A)		8,800,000		8,813,200
Environmental Control—0.0%
Republic Services, Inc. 3.550%, 06/01/22		1,400,000		1,449,522
Food—1.5%
Campbell Soup Co.
2.500%, 08/02/22		3,680,000		3,693,396
Food—(Continued)
Campbell Soup Co.
2.619%, 3M LIBOR + 0.500%, 03/16/20 (b)		10,945,000		10,945,461
2.749%, 3M LIBOR + 0.630%, 03/15/21 (b)		10,233,000		10,230,448
3.650%, 03/15/23		8,200,000		8,530,901
Conagra Brands, Inc. 3.800%, 10/22/21		1,300,000		1,341,563
Danone S.A.
2.077%, 11/02/21 (144A)		13,943,000		13,921,959
2.589%, 11/02/23 (144A)		3,858,000		3,911,275
General Mills, Inc. 2.862%, 3M LIBOR + 0.540%, 04/16/21 (b)		4,200,000		4,209,536
Kraft Heinz Foods Co. 2.800%, 07/02/20		1,700,000		1,702,922
Mondelez International, Inc.
3.000%, 05/07/20		7,200,000		7,236,841
3.625%, 05/07/23		11,500,000		12,033,019
				77,757,321
Healthcare-Products—0.3%
Boston Scientific Corp.
3.375%, 05/15/22		2,200,000		2,262,666
Covidien International Finance S.A. 3.200%, 06/15/22		7,670,000		7,897,795
Zimmer Biomet Holdings, Inc. 2.914%, 3M LIBOR + 0.750%, 03/19/21 (b)		3,395,000		3,395,060
				13,555,521
Home Builders—0.2%
DR Horton, Inc.
4.000%, 02/15/20		7,800,000		7,845,969
4.375%, 09/15/22		4,700,000		4,934,848
				12,780,817
Household Products/Wares—0.2%
Reckitt Benckiser Treasury Services plc 2.695%, 3M LIBOR + 0.560%, 06/24/22 (144A) (b)		10,600,000		10,563,277
Housewares—0.1%
Newell Brands, Inc. 3.850%, 04/01/23		4,876,000		5,027,923
Insurance—0.8%
Ambac Assurance Corp. 5.100%, 06/07/20 (144A)		144		209
Ambac LSNI LLC 7.104%, 3M LIBOR + 5.000%, 02/12/23 (144A) (b)		3,904,740		3,943,787
AXA Equitable Holdings, Inc. 3.900%, 04/20/23		10,000,000		10,456,930
Guardian Life Global Funding 3.400%, 04/25/23 (144A)		14,600,000		15,236,421
Jackson National Life Global Funding 2.375%, 09/15/22 (144A)		13,000,000		13,072,146

BHFTI-298

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Society of Lloyd’s 4.750%, 10/30/24 (GBP)		1,600,000	$	2,164,216
				44,873,709
Internet—0.3%
Booking Holdings, Inc. 2.750%, 03/15/23		4,600,000		4,711,260
eBay, Inc. 2.750%, 01/30/23		12,150,000		12,297,506
				17,008,766
Lodging—0.6%
Hyatt Hotels Corp. 4.850%, 03/15/26		2,700,000		2,991,517
Marriott International, Inc.
3.600%, 04/15/24		10,500,000		11,020,395
4.150%, 12/01/23		14,100,000		15,009,987
MGM Resorts International 7.750%, 03/15/22		1,100,000		1,230,636
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. 4.250%, 05/30/23 (144A)		3,800,000		3,904,500
				34,157,035
Media—0.5%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.464%, 07/23/22		14,229,000		14,979,803
Comcast Corp. 2.429%, 3M LIBOR + 0.330%, 10/01/20 (b)		2,300,000		2,303,903
CSC Holdings LLC 5.375%, 02/01/28 (144A)		3,800,000		4,004,250
Entercom Media Corp. 7.250%, 11/01/24 (144A) (d)		4,000,000		4,140,000
Time Warner Cable LLC 4.000%, 09/01/21		1,000,000		1,023,085
Virgin Media Secured Finance plc 5.125%, 01/15/25 (GBP)		2,000,000		2,541,700
				28,992,741
Miscellaneous Manufacturing—0.3%
General Electric Co. 5.500%, 06/07/21 (GBP)		500,000		650,590
Textron, Inc. 2.731%, 3M LIBOR + 0.550%, 11/10/20 (b)		14,400,000		14,393,514
				15,044,104
Oil & Gas—0.9%
BG Energy Capital plc 4.000%, 10/15/21 (144A)		1,300,000		1,347,021
BP Capital Markets America, Inc.
3.790%, 02/06/24		13,700,000		14,577,401
4.234%, 11/06/28		7,000,000		7,919,702
Continental Resources, Inc. 5.000%, 09/15/22		550,000		554,846
Oil & Gas—(Continued)
EQT Corp. 2.500%, 10/01/20		3,562,000		3,556,305
Marathon Oil Corp. 2.800%, 11/01/22		2,200,000		2,213,732
Occidental Petroleum Corp. 2.900%, 08/15/24		12,400,000		12,494,155
Petrobras Global Finance B.V. 6.125%, 01/17/22		2,715,000		2,914,552
Pioneer Natural Resources Co. 7.500%, 01/15/20		1,500,000		1,520,826
Rio Oil Finance Trust 9.250%, 07/06/24 (144A)		2,474,021		2,758,558
				49,857,098
Packaging & Containers—0.3%
WRKCo, Inc. 4.650%, 03/15/26		14,700,000		16,137,141
Pharmaceuticals—1.6%
AbbVie, Inc.
2.850%, 05/14/23		3,000,000		3,052,085
2.900%, 11/06/22		9,075,000		9,249,346
3.200%, 05/14/26		1,300,000		1,323,763
3.600%, 05/14/25		700,000		727,904
Allergan Funding SCS 3.450%, 03/15/22		4,900,000		5,022,013
Bayer U.S. Finance LLC
3.129%, 3M LIBOR + 1.010%, 12/15/23 (144A) (b)		17,400,000		17,410,596
3.875%, 12/15/23 (144A)		2,000,000		2,089,401
CVS Health Corp.
2.750%, 12/01/22		2,900,000		2,935,573
3.350%, 03/09/21		1,540,000		1,565,020
4.300%, 03/25/28		5,000,000		5,408,062
4.750%, 12/01/22		3,300,000		3,519,517
CVS Pass-Through Trust 6.943%, 01/10/30		718,751		849,038
Shire Acquisitions Investments Ireland DAC 2.400%, 09/23/21		1,900,000		1,908,809
Takeda Pharmaceutical Co., Ltd. 4.400%, 11/26/23 (144A)		16,400,000		17,663,944
Teva Pharmaceutical Finance Netherlands II B.V.
1.250%, 03/31/23 (EUR)		3,700,000		3,369,418
3.250%, 04/15/22 (EUR)		8,000,000		8,086,455
				84,180,944
Pipelines—0.4%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 5.500%, 10/15/19		5,800,000		5,806,102
Enbridge, Inc. 2.819%, 3M LIBOR + 0.700%, 06/15/20 (b)		11,500,000		11,520,373
Sunoco Logistics Partners Operations L.P. 5.950%, 12/01/25		1,800,000		2,056,360
				19,382,835

BHFTI-299

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate—0.2%
CPI Property Group S.A. 2.125%, 10/04/24 (EUR)		3,800,000	$	4,372,858
Ontario Teachers’ Cadillac Fairview Properties Trust
3.125%, 03/20/22 (144A)		1,200,000		1,227,749
3.875%, 03/20/27 (144A)		1,700,000		1,841,496
Tesco Property Finance 6 plc 5.411%, 07/13/44 (GBP)		1,053,104		1,643,955
				9,086,058
Real Estate Investment Trusts—3.6%
American Campus Communities Operating Partnership L.P. 3.625%, 11/15/27		2,200,000		2,310,989
American Homes 4 Rent L.P. 4.250%, 02/15/28		1,900,000		2,049,976
American Tower Corp.
3.375%, 05/15/24		16,000,000		16,645,421
3.500%, 01/31/23		1,807,000		1,872,238
Boston Properties L.P. 2.900%, 03/15/30		2,700,000		2,686,842
Brixmor Operating Partnership L.P.
3.900%, 03/15/27		6,000,000		6,290,932
4.125%, 06/15/26		5,500,000		5,834,209
CBL & Associates L.P. 5.950%, 12/15/26		7,200,000		5,058,000
Crown Castle International Corp.
5.250%, 01/15/23		8,831,000		9,635,478
Digital Realty Trust L.P. 4.750%, 10/01/25		8,000,000		8,801,367
GLP Capital L.P. / GLP Financing II, Inc. 5.250%, 06/01/25		5,000,000		5,507,650
Goodman U.S. Finance Three LLC 3.700%, 03/15/28 (144A)		10,800,000		11,214,955
Hospitality Properties Trust 4.375%, 02/15/30		11,490,000		10,996,946
Kilroy Realty L.P. 4.750%, 12/15/28		10,000,000		11,253,977
Omega Healthcare Investors, Inc. 4.750%, 01/15/28		8,900,000		9,632,478
Public Storage
2.370%, 09/15/22		2,500,000		2,524,454
3.094%, 09/15/27		15,500,000		16,288,313
Realty Income Corp. 3.875%, 04/15/25		10,700,000		11,494,986
Senior Housing Properties Trust 4.750%, 02/15/28		9,600,000		9,650,813
Simon Property Group L.P. 2.750%, 06/01/23		18,690,000		19,094,770
UDR, Inc.
3.500%, 07/01/27		1,900,000		2,006,887
4.400%, 01/26/29		3,400,000		3,829,221
WEA Finance LLC 3.150%, 04/05/22 (144A)		4,770,000		4,866,757
Welltower, Inc. 4.250%, 04/01/26		10,300,000		11,211,448
				190,759,107
Retail—0.3%
McDonald’s Corp. 2.686%, 3M LIBOR + 0.430%, 10/28/21 (b)		14,300,000		14,302,833
Savings & Loans—0.2%
Nationwide Building Society 4.363%, 3M LIBOR + 1.392%, 08/01/24 (144A) (b)		9,390,000		9,862,557
Semiconductors—0.5%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.000%, 01/15/22		5,144,000		5,193,917
Broadcom, Inc.
3.125%, 04/15/21 (144A)		8,400,000		8,480,325
3.125%, 10/15/22 (144A)		1,600,000		1,620,143
Micron Technology, Inc. 4.640%, 02/06/24		9,000,000		9,570,035
NXP B.V. / NXP Funding LLC 4.625%, 06/01/23 (144A)		3,902,000		4,157,169
				29,021,589
Software—0.5%
Activision Blizzard, Inc. 2.600%, 06/15/22		4,759,000		4,807,793
CA, Inc. 3.600%, 08/01/20		3,000,000		3,027,028
Fidelity National Information Services, Inc. 2.250%, 08/15/21		1,100,000		1,101,485
Oracle Corp.
1.900%, 09/15/21		6,000,000		5,997,891
VMware, Inc. 2.300%, 08/21/20		13,600,000		13,606,948
				28,541,145
Telecommunications—1.6%
Altice France S.A. 6.250%, 05/15/24 (144A)		2,160,000		2,229,120
AT&T, Inc.
2.888%, 3M LIBOR + 0.750%, 06/01/21 (b)		16,900,000		16,981,129
2.953%, 3M LIBOR + 0.650%, 01/15/20 (b)		11,900,000		11,917,547
3.253%, 3M LIBOR + 0.950%, 07/15/21 (b)		14,900,000		15,031,090
3.312%, 3M LIBOR + 1.180%, 06/12/24 (b)		14,200,000		14,459,860
3.400%, 06/15/22		1,800,000		1,855,534
Deutsche Telekom International Finance B.V. 2.820%, 01/19/22 (144A)		700,000		708,302
Verizon Communications, Inc.
3.119%, 3M LIBOR + 1.000%, 03/16/22 (b)		1,900,000		1,928,603
3.376%, 02/15/25		16,266,000		17,179,738
				82,290,923
Trucking & Leasing—0.5%
Aviation Capital Group LLC
2.875%, 01/20/22 (144A)		4,480,000		4,498,260
4.125%, 08/01/25 (144A)		11,500,000		11,998,494
NTT Finance Corp. 1.900%, 07/21/21		9,700,000		9,643,256

BHFTI-300

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Trucking & Leasing—(Continued)
Penske Truck Leasing Co. L.P. / PTL Finance Corp. 3.375%, 02/01/22 (144A)		600,000	$	612,384
				26,752,394
Total Corporate Bonds & Notes (Cost $2,685,991,279)				2,780,808,346
Asset-Backed Securities—15.0%
Asset-Backed - Automobile—1.6%
Ally Auto Receivables Trust 2.720%, 05/17/21		5,109,227		5,112,512
Ally Master Owner Trust 2.348%, 1M LIBOR + 0.320%, 07/15/22 (b)		17,200,000		17,209,532
AmeriCredit Automobile Receivables Trust 2.271%, 1M LIBOR + 0.230%, 07/19/21 (b)		976,802		976,802
Chesapeake Funding II LLC
2.859%, 1M LIBOR + 0.370%, 08/15/30 (144A) (b)		13,849,647		13,837,228
3.230%, 08/15/30 (144A)		9,259,939		9,383,464
Credit Acceptance Auto Loan Trust 3.470%, 05/17/27 (144A)		11,500,000		11,666,763
GM Financial Consumer Automobile Receivables Trust 2.740%, 07/16/21		7,287,614		7,299,001
OneMain Direct Auto Receivables Trust 3.430%, 12/16/24 (144A)		14,400,000		14,641,243
Westlake Automobile Receivables Trust 2.980%, 01/18/22 (144A)		4,902,534		4,915,452
				85,041,997
Asset-Backed - Credit Card—0.5%
Chase Issuance Trust
2.328%, 1M LIBOR + 0.300%, 01/15/22 (b)		12,000,000		12,006,579
Evergreen Credit Card Trust 1.900%, 09/15/24 (144A)		16,200,000		16,131,343
				28,137,922
Asset-Backed - Home Equity—1.8%
Accredited Mortgage Loan Trust 2.598%, 1M LIBOR + 0.580%, 07/25/34 (b)		9,031,667		8,936,639
ACE Securities Corp. Home Equity Loan Trust
2.168%, 1M LIBOR + 0.150%, 04/25/36 (b)		5,406,473		5,321,433
2.168%, 1M LIBOR + 0.150%, 07/25/36 (b)		8,851,619		4,163,928
Asset-Backed Funding Certificates Trust 2.718%, 1M LIBOR + 0.700%, 06/25/34 (b)		1,798,170		1,787,008
Asset-Backed Securities Corp. Home Equity Loan Trust
2.098%, 1M LIBOR + 0.080%, 05/25/37 (b)		24,215		18,238
2.468%, 1M LIBOR + 0.450%, 11/25/35 (b)		1,862,938		1,868,039
Bear Stearns Asset-Backed Securities I Trust
2.268%, 1M LIBOR + 0.250%, 04/25/37 (b)		13,456,047		14,365,493
2.818%, 1M LIBOR + 0.800%, 10/27/32 (b)		15,213		14,880
2.835%, 1M LIBOR + 0.460%, 02/25/36 (b)		1,000,000		989,581
3.018%, 1M LIBOR + 1.000%, 10/25/37 (b)		2,383,165		2,393,119
3.023%, 1M LIBOR + 1.005%, 06/25/35 (b)		7,153,267		7,143,465
Asset-Backed - Home Equity—(Continued)
Citigroup Mortgage Loan Trust
2.178%, 1M LIBOR + 0.160%, 12/25/36 (144A) (b)		8,169,772		5,616,070
2.188%, 1M LIBOR + 0.170%, 05/25/37 (b)		3,233,744		3,221,219
HSI Asset Securitization Corp. Trust 2.188%, 1M LIBOR + 0.170%, 12/25/36 (b)		10,006,427		3,891,074
IXIS Real Estate Capital Trust 2.963%, 1M LIBOR + 0.945%, 02/25/35 (b)		2,385,885		2,360,025
MASTR Asset-Backed Securities Trust
2.068%, 1M LIBOR + 0.050%, 08/25/36 (b)		5,872,359		2,708,098
2.188%, 1M LIBOR + 0.170%, 10/25/36 (b)		4,291,428		4,221,511
Merrill Lynch Mortgage Investors Trust 2.768%, 1M LIBOR + 0.750%, 06/25/36 (b)		856,288		859,585
Morgan Stanley ABS Capital I, Inc. Trust
2.078%, 1M LIBOR + 0.060%, 05/25/37 (b)		155,643		140,974
2.168%, 1M LIBOR + 0.150%, 06/25/36 (b)		246,377		211,076
NovaStar Mortgage Funding Trust 2.218%, 1M LIBOR + 0.200%, 09/25/37 (b)		6,819,021		6,627,037
Option One Mortgage Corp. Asset-Backed Certificates 2.658%, 1M LIBOR + 0.640%, 08/25/33 (b)		11,656		11,512
Option One Mortgage Loan Trust 2.158%, 1M LIBOR + 0.140%, 01/25/37 (b)		5,930,953		4,394,364
Renaissance Home Equity Loan Trust 2.898%, 1M LIBOR + 0.880%, 08/25/33 (b)		86,189		86,263
Residential Asset Securities Corp. Trust
2.168%, 1M LIBOR + 0.150%, 07/25/36 (b)		5,425,663		5,151,701
2.298%, 1M LIBOR + 0.280%, 06/25/36 (b)		6,000,000		5,955,953
2.598%, 1M LIBOR + 0.580%, 06/25/33 (b)		791,303		735,091
Soundview Home Loan Trust 2.198%, 1M LIBOR + 0.180%, 05/25/36 (b)		2,307,095		2,304,951
				95,498,327
Asset-Backed - Manufactured Housing—0.0%
Conseco Finance Corp.
6.220%, 03/01/30		14,349		14,856
Mid-State Trust 7.791%, 03/15/38		79,416		87,687
				102,543
Asset-Backed - Other—10.5%
Allegro CLO, Ltd. 3.486%, 3M LIBOR + 1.220%, 01/30/26 (144A) (b)		2,558,859		2,559,092
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates 2.798%, 1M LIBOR + 0.780%, 05/25/34 (b)		3,520,023		3,533,985
Apex Credit CLO, Ltd. 3.306%, 3M LIBOR + 1.050%, 10/27/28 (144A) (b)		13,600,000		13,640,297
Argent Securities, Inc. Asset-Backed Pass-Through Certificates 2.398%, 1M LIBOR + 0.380%, 02/25/36 (b)		5,441,239		4,502,410
Avery Point CLO, Ltd. 3.420%, 3M LIBOR + 1.120%, 01/18/25 (144A) (b)		4,663,876		4,663,857
B&M CLO, Ltd. 3.052%, 3M LIBOR + 0.730%, 04/16/26 (144A) (b)		3,322,571		3,320,042
Brookside Mill CLO, Ltd. 3.123%, 3M LIBOR + 0.820%, 01/17/28 (144A) (b)		11,295,000		11,246,398

BHFTI-301

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Catamaran CLO, Ltd. 3.700%, 3M LIBOR + 1.400%, 10/18/26 (144A) (b)		5,707,725	$	5,714,540
CIFC Funding, Ltd.
3.083%, 3M LIBOR + 0.780%, 04/15/27 (144A) (b)		15,159,785		15,141,472
3.136%, 3M LIBOR + 0.860%, 10/25/27 (144A) (b)		16,200,000		16,150,914
Countrywide Asset-Backed Certificates
2.158%, 1M LIBOR + 0.140%, 07/25/37 (b)		10,026,390		9,060,923
2.158%, 1M LIBOR + 0.140%, 04/25/47 (b)		3,736,490		3,643,196
2.168%, 1M LIBOR + 0.150%, 05/25/37 (b)		878,138		870,618
2.168%, 1M LIBOR + 0.150%, 06/25/47 (b)		291,905		289,925
2.238%, 1M LIBOR + 0.220%, 09/25/37 (b)		5,370,929		4,544,466
2.298%, 1M LIBOR + 0.280%, 09/25/36 (b)		5,344,891		5,344,203
4.629%, 10/25/46 (b)		3,842,445		3,748,492
4.742%, 10/25/32 (b)		8,327,052		7,757,124
CVP Cascade CLO-1, Ltd. 3.472%, 3M LIBOR + 1.150%, 01/16/26 (144A) (b)		4,811,969		4,812,604
CWABS Asset-Backed Certificates Trust
2.158%, 1M LIBOR + 0.140%, 02/25/37 (b)		3,730,607		3,521,066
2.168%, 1M LIBOR + 0.150%, 09/25/46 (b)		3,422,704		3,380,946
2.168%, 1M LIBOR + 0.150%, 03/25/47 (b)		1,380,747		1,356,644
2.718%, 1M LIBOR + 0.700%, 11/25/35 (b)		10,000,000		10,004,117
Dorchester Park CLO DAC 3.178%, 3M LIBOR + 0.900%, 04/20/28 (144A) (b)		9,500,000		9,497,293
Figueroa CLO, Ltd.
3.006%, 3M LIBOR + 0.850%, 06/20/27 (144A) (b)		13,299,849		13,285,126
3.203%, 3M LIBOR + 0.900%, 01/15/27 (144A) (b)		11,657,567		11,642,890
First Franklin Mortgage Loan Trust
2.158%, 1M LIBOR + 0.140%, 12/25/36 (b)		6,096,658		3,479,627
2.378%, 1M LIBOR + 0.360%, 10/25/35 (b)		4,257,686		4,254,234
3.443%, 1M LIBOR + 1.425%, 10/25/34 (b)		3,863,943		3,852,534
Flagship CLO, Ltd. 3.172%, 3M LIBOR + 0.850%, 01/16/26 (144A) (b)		8,802,237		8,792,203
Flagship, Ltd. 3.398%, 3M LIBOR + 1.120%, 01/20/26 (144A) (b)		1,451,574		1,450,908
Gallatin CLO, Ltd. 3.328%, 3M LIBOR + 1.050%, 01/21/28 (144A) (b)		13,850,000		13,851,399
GSAMP Trust
2.188%, 1M LIBOR + 0.170%, 12/25/36 (b)		2,980,459		1,747,029
2.408%, 1M LIBOR + 0.390%, 01/25/36 (b)		14,600,000		14,574,265
3.338%, 1M LIBOR + 1.320%, 12/25/34 (b)		6,064,016		4,925,120
Home Equity Loan Trust 2.248%, 1M LIBOR + 0.230%, 04/25/37 (b)		16,100,000		14,812,250
Home Equity Mortgage Loan Asset-Backed Trust 2.238%, 1M LIBOR + 0.220%, 04/25/37 (b)		3,180,196		2,502,362
Jamestown CLO, Ltd. 3.523%, 3M LIBOR + 1.220%, 01/17/27 (144A) (b)		13,619,368		13,639,797
JMP Credit Advisors CLO IIIR, Ltd. 3.153%, 3M LIBOR + 0.850%, 01/17/28 (144A) (b)		14,900,000		14,832,771
JPMorgan Mortgage Acquisition Trust 2.158%, 1M LIBOR + 0.140%, 03/25/47 (b)		286,800		286,670
Lehman XS Trust 2.818%, 1M LIBOR + 0.800%, 10/25/35 (b)		1,952,060		1,946,187
LoanCore Issuer, Ltd. 3.158%, 1M LIBOR + 1.130%, 05/15/28 (144A) (b)		14,300,000		14,304,643
Long Beach Mortgage Loan Trust
2.538%, 1M LIBOR + 0.520%, 08/25/45 (b)		739,015		723,095
2.798%, 1M LIBOR + 0.780%, 08/25/35 (b)		10,000,000		9,945,543
Asset-Backed - Other—(Continued)
Loomis Sayles CLO , Ltd. 3.203%, 3M LIBOR + 0.900%, 04/15/28 (144A) (b)		11,800,000		11,707,901
Marathon CLO, Ltd. 3.022%, 3M LIBOR + 0.870%, 11/21/27 (144A) (b)		14,700,000		14,618,209
Monarch Grove CLO 3.156%, 3M LIBOR + 0.880%, 01/25/28 (144A) (b)		8,800,000		8,745,009
Morgan Stanley ABS Capital I, Inc. Trust
2.143%, 1M LIBOR + 0.125%, 07/25/36 (b)		4,415,174		3,824,936
2.328%, 1M LIBOR + 0.310%, 12/25/35 (b)		2,568,646		2,552,572
2.978%, 1M LIBOR + 0.960%, 06/25/35 (b)		252,150		257,348
OCP CLO, Ltd. 3.103%, 3M LIBOR + 0.800%, 07/15/27 (144A) (b)		5,400,000		5,400,086
Octagon Investment Partners, Ltd. 3.153%, 3M LIBOR + 0.850%, 07/15/27 (144A) (b)		8,800,000		8,787,689
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates
2.508%, 1M LIBOR + 0.490%, 09/25/35 (b)		5,000,000		4,821,479
3.068%, 1M LIBOR + 1.050%, 10/25/34 (b)		5,800,000		5,885,600
3.818%, 1M LIBOR + 1.800%, 12/25/34 (b)		4,636,570		4,715,881
Residential Asset Securities Corp. Trust 2.178%, 1M LIBOR + 0.160%, 11/25/36 (b)		4,273,826		4,107,133
Saxon Asset Securities Trust 2.418%, 1M LIBOR + 0.400%, 09/25/47 (b)		2,530,000		2,405,445
Securitized Asset-Backed Receivables LLC Trust 2.268%, 1M LIBOR + 0.250%, 05/25/36 (b)		8,785,308		5,589,326
SoFi Consumer Loan Program Trust 2.550%, 02/25/27 (144A)		736,677		736,796
Soundview Home Loan Trust
2.128%, 1M LIBOR + 0.110%, 02/25/37 (b)		2,397,767		879,432
2.978%, 1M LIBOR + 0.960%, 05/25/35 (b)		2,400,000		2,405,997
Specialty Underwriting & Residential Finance Trust 2.288%, 1M LIBOR + 0.270%, 04/25/37 (b)		4,804,249		3,002,314
Starwood Commercial Mortgage Trust 3.369%, 1M LIBOR + 1.080%, 07/15/38 (144A) (b)		13,300,000		13,316,625
Structured Asset Investment Loan Trust
2.168%, 1M LIBOR + 0.150%, 09/25/36 (b)		3,625,122		3,515,952
2.438%, 1M LIBOR + 0.420%, 11/25/35 (b)		7,700,000		7,660,852
2.753%, 1M LIBOR + 0.735%, 08/25/35 (b)		1,811,610		1,813,732
Structured Asset Securities Corp. Mortgage Loan Trust 2.918%, 1M LIBOR + 0.900%, 08/25/37 (b)		433,451		434,160
Sudbury Mill CLO, Ltd.
3.453%, 3M LIBOR + 1.150%, 01/17/26 (144A) (b)		6,585,767		6,600,460
3.473%, 3M LIBOR + 1.170%, 01/17/26 (144A) (b)		5,597,902		5,573,719
Symphony CLO, Ltd.
3.183%, 3M LIBOR + 0.880%, 04/15/28 (144A) (b)		2,800,000		2,797,964
3.333%, 3M LIBOR + 1.030%, 10/15/25 (144A) (b)		11,286,414		11,293,231
Telos CLO, Ltd. 3.253%, 3M LIBOR + 0.950%, 04/17/28 (144A) (b)		17,400,000		17,344,912
TICP CLO III-2, Ltd. 3.118%, 3M LIBOR + 0.840%, 04/20/28 (144A) (b)		11,700,000		11,636,773
Tralee CLO, Ltd. 3.388%, 3M LIBOR + 1.110%, 10/20/28 (144A) (b)		6,200,000		6,198,456
U.S. Small Business Administration 6.220%, 12/01/28		1,440,262		1,584,896
Upstart Securitization Trust 4.997%, 08/20/25 (144A)		5,700,000		5,762,483

BHFTI-302

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Venture CLO, Ltd.
3.123%, 3M LIBOR + 0.820%, 04/15/27 (144A) (b)		11,590,089	$	11,576,239
3.667%, 3M LIBOR + 0.880%, 04/15/27 (144A) (b)		15,500,000		15,468,442
Venture XVI CLO, Ltd. 3.153%, 3M LIBOR + 0.850%, 01/15/28 (144A) (b)		11,900,000		11,873,225
Voya CLO, Ltd. 2.996%, 3M LIBOR + 0.720%, 07/25/26 (144A) (b)		5,406,888		5,394,820
Wells Fargo Home Equity Asset-Backed Securities Trust 2.498%, 1M LIBOR + 0.480%, 12/25/35 (b)		20,861,000		20,944,413
				554,387,784
Asset-Backed - Student Loan—0.6%
Navient Private Education Loan Trust 2.378%, 1M LIBOR + 0.350%, 12/15/59 (144A) (b)		3,456,946		3,455,543
Navient Private Education Refi Loan Trust 3.010%, 06/16/42 (144A)		7,122,048		7,171,174
Nelnet Student Loan Trust 3.782%, 3M LIBOR + 1.650%, 11/25/24 (b)		1,496,249		1,494,561
SoFi Professional Loan Program LLC 3.020%, 02/25/40 (144A)		5,468,857		5,580,786
SoFi Professional Loan Program Trust 2.640%, 08/25/47 (144A)		7,918,675		7,937,656
Utah State Board of Regents 2.768%, 1M LIBOR + 0.750%, 01/25/57 (b)		6,213,131		6,212,759
				31,852,479
Total Asset-Backed Securities (Cost $754,732,142)				795,021,052
Foreign Government—7.2%
Municipal—0.2%
Autonomous Community of Catalonia 4.950%, 02/11/20 (EUR)		10,000,000		11,073,677
Provincial—0.9%
Province of Ontario Canada
3.150%, 06/02/22 (CAD)		9,300,000		7,276,021
4.000%, 06/02/21 (CAD)		31,100,000		24,341,263
Province of Quebec Canada
3.500%, 12/01/22 (CAD)		3,300,000		2,619,127
4.250%, 12/01/21 (CAD)		15,200,000		12,079,689
				46,316,100
Regional Government—0.3%
Japan Finance Organization for Municipalities 3.375%, 09/27/23 (144A)		14,000,000		14,712,564
Sovereign—5.8%
Brazil Letras do Tesouro Nacional
5.228%, 01/01/20 (BRL)		86,550,000		20,571,069
6.193%, 04/01/20 (BRL)		538,450,000		126,550,626
Japan Bank for International Cooperation 2.875%, 07/21/27		11,200,000		11,893,376
Sovereign—(Continued)
Japan Government Twenty Year Bond 0.300%, 06/20/39 (JPY)		1,840,000,000		17,357,518
Kuwait International Government Bond 2.750%, 03/20/22 (144A)		12,000,000		12,150,000
Qatar Government International Bonds
4.500%, 04/23/28		15,500,000		17,660,731
5.103%, 04/23/48		1,500,000		1,916,250
Spain Government Bonds
0.600%, 10/31/29 (144A) (EUR)		34,700,000		39,533,673
1.400%, 07/30/28 (144A) (EUR)		26,400,000		32,160,779
1.450%, 04/30/29 (144A) (EUR)		14,900,000		18,299,882
1.850%, 07/30/35 (144A) (EUR)		9,100,000		11,828,662
				309,922,566
Total Foreign Government (Cost $400,708,194)				382,024,907
Mortgage-Backed Securities—6.5%
Collateralized Mortgage Obligations—4.9%
Adjustable Rate Mortgage Trust 4.475%, 11/25/35 (b)		249,169		225,584
Alternative Loan Trust
2.178%, 1M LIBOR + 0.160%, 12/25/46 (b)		14		14
5.500%, 02/25/36		2,762,312		2,476,339
6.000%, 1M LIBOR + 6.000%, 08/25/36 (b)		3,466,543		3,559,577
6.000%, 04/25/37		3,333,676		2,500,141
Alternative Loan Trust Resecuritization 3.653%, 03/25/47 (b)		25,440		25,500
American Home Mortgage Investment Trust 4.031%, 6M LIBOR + 2.000%, 02/25/45 (b)		537,341		539,965
Banc of America Alternative Loan Trust
12.500%, -2.2 x 1M LIBOR + 16.940%, 09/25/35 (b)		2,462,766		3,084,487
20.327%, -4 x 1M LIBOR + 28.400%, 11/25/46 (b)		1,094,315		1,566,091
Banc of America Funding Trust
4.647%, 01/20/47 (b)		135,040		130,973
4.701%, 02/20/36 (b)		1,379,869		1,381,575
4.809%, 05/25/35 (b)		565,220		578,466
Banc of America Mortgage Trust 6.000%, 05/25/37		8,041,616		7,322,858
BCAP LLC Trust
2.228%, 1M LIBOR + 0.210%, 05/25/47 (b)		7,935,615		7,359,195
5.250%, 02/26/36 (144A) (b)		3,227,927		2,360,172
5.250%, 08/26/37 (144A) (b)		2,117,631		2,152,105
Bear Stearns Adjustable Rate Mortgage Trust
4.433%, 02/25/33 (b)		6,431		6,089
4.777%, 10/25/35 (b)		1,615,404		1,646,625
Bear Stearns ALT-A Trust
3.825%, 11/25/36 (b)		1,911,988		1,585,385
4.053%, 11/25/36 (b)		2,790,582		2,584,012
4.201%, 09/25/35 (b)		645,291		537,268
4.336%, 05/25/36 (b)		1,706,459		1,213,314
4.496%, 05/25/35 (b)		794,230		806,354
Bear Stearns Structured Products, Inc. Trust
3.615%, 12/26/46 (b)		598,018		518,279
4.082%, 01/26/36 (b)		743,293		659,880

BHFTI-303

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Chase Mortgage Finance Trust
4.049%, 09/25/36 (b)		1,920,896	$	1,797,219
4.208%, 12/25/35 (b)		1,586,492		1,503,826
4.218%, 03/25/37 (b)		1,121,861		1,126,991
Chevy Chase Funding LLC Mortgage-Backed Certificate 2.268%, 1M LIBOR + 0.250%, 08/25/35 (144A) (b)		24,207		24,017
CHL Mortgage Pass-Through Trust 2.218%, 1M LIBOR + 0.200%, 04/25/46 (b)		2,027,118		1,887,963
Citicorp Mortgage Securities Trust 6.000%, 05/25/37		1,606,486		1,593,990
Citigroup Mortgage Loan Trust
3.548%, 10/25/46 (b)		1,173,140		1,072,868
4.380%, 1Y H15 + 2.400%, 10/25/35 (b)		1,224,985		1,264,735
4.550%, 1Y H15 + 2.150%, 09/25/35 (b)		244,261		250,261
4.680%, 1Y H15 + 2.100%, 09/25/35 (b)		887,202		909,918
Countrywide Alternative Loan Trust
2.278%, 1M LIBOR + 0.260%, 06/25/46 (b)		6,329,732		5,696,608
2.982%, -1 x 1M LIBOR + 5.000%, 05/25/35 (b) (c)		980,080		93,383
6.000%, 03/25/35		11,664,801		11,159,992
6.000%, 07/25/37		5,043,259		3,675,217
Countrywide Home Loan Mortgage Pass-Through Trust
2.658%, 1M LIBOR + 0.640%, 03/25/35 (b)		395,148		403,899
3.816%, 09/20/36 (b)		2,264,020		1,979,952
5.750%, 06/25/37		1,564,789		1,315,147
Countrywide Home Reperforming Loan REMIC Trust 2.358%, 1M LIBOR + 0.340%, 06/25/35 (144A) (b)		1,260,527		1,208,081
Credit Suisse First Boston Mortgage Securities Corp.
3.044%, 03/25/32 (144A) (b)		45,551		44,481
6.000%, 11/25/35		1,527,086		1,254,726
Downey Savings & Loan Association Mortgage Loan Trust 4.489%, 07/19/44 (b)		349,499		360,265
First Horizon Mortgage Pass-Through Trust 4.603%, 08/25/35 (b)		121,377		101,076
GreenPoint Mortgage Funding Trust
2.193%, 1M LIBOR + 0.175%, 12/25/46 (b)		562,194		619,175
2.458%, 1M LIBOR + 0.440%, 06/25/45 (b)		45,281		42,955
GSR Mortgage Loan Trust
4.150%, 04/25/36 (b)		1,475,213		1,312,767
4.385%, 01/25/36 (b)		3,254,112		3,311,612
4.480%, 09/25/35 (b)		18,463		18,963
6.000%, 03/25/32		93		99
HarborView Mortgage Loan Trust 2.497%, 1M LIBOR + 0.440%, 05/19/35 (b)		643,444		623,748
Hawksmoor Mortgages plc Zero Coupon, 3M SONIA + 1.050%, 05/25/53 (144A) (GBP) (b)		51,300,000		63,108,437
Holmes Master Issuer plc 2.663%, 3M LIBOR + 0.360%, 10/15/54 (144A) (b)		8,794,286		8,786,309
IndyMac ARM Trust
3.671%, 01/25/32 (b)		11,812		11,825
3.902%, 01/25/32 (b)		442		426
IndyMac INDX Mortgage Loan Trust
2.138%, 1M LIBOR + 0.120%, 07/25/36 (b)		3,895,575		3,614,883
2.228%, 1M LIBOR + 0.210%, 05/25/46 (b)		5,482,820		5,393,239
JPMorgan Alternative Loan Trust 2.198%, 1M LIBOR + 0.180%, 05/25/36 (b)		1,676,650		1,535,494
Collateralized Mortgage Obligations—(Continued)
JPMorgan Mortgage Trust
4.420%, 07/25/35 (b)		880,802		891,523
5.750%, 01/25/36		272,192		212,425
Lehman Mortgage Trust 2.618%, 1M LIBOR + 0.600%, 08/25/36 (b)		6,146,184		4,635,928
MASTR Alternative Loan Trust
2.418%, 1M LIBOR + 0.400%, 03/25/36 (b)		618,191		109,627
6.500%, 02/25/35		5,411,754		6,463,990
MASTR Asset Securitization Trust 6.000%, 06/25/36		380,754		366,490
Merrill Lynch Alternative Note Asset Trust 2.198%, 1M LIBOR + 0.180%, 04/25/37 (b)		16,512		16,564
Merrill Lynch Mortgage Investors Trust
2.268%, 1M LIBOR + 0.250%, 11/25/35 (b)		2,643		2,655
2.398%, 1M LIBOR + 0.380%, 08/25/35 (b)		1,540,720		1,548,436
Morgan Stanley Re-REMIC Trust 3.410%, 03/26/37 (144A) (o)		2,441,125		2,249,471
MortgageIT Mortgage Loan Trust 2.248%, 1M LIBOR + 0.230%, 04/25/36 (b)		3,884,877		3,743,253
Nomura Asset Acceptance Corp. Alternative Loan Trust 5.476%, 05/25/35 (o)		1,000,185		782,539
OBX Trust 2.668%, 1M LIBOR + 0.650%, 06/25/57 (144A) (b)		3,386,271		3,372,106
RBSSP Resecuritization Trust 2.625%, 1M LIBOR + 0.240%, 06/27/36 (144A) (b)		7,687,821		7,281,349
Residential Asset Securitization Trust 6.000%, 06/25/36		3,315,902		2,267,353
Sequoia Mortgage Trust
2.394%, 1M LIBOR + 0.350%, 07/20/33 (b)		153,929		151,524
2.697%, 1M LIBOR + 0.640%, 04/19/27 (b)		473,298		466,812
Structured Adjustable Rate Mortgage Loan Trust
4.039%, 01/25/35 (b)		737,929		744,894
4.159%, 08/25/35 (b)		96,975		98,560
4.278%, 04/25/35 (b)		3,650,967		3,509,744
Structured Asset Mortgage Investments II Trust
2.307%, 1M LIBOR + 0.250%, 07/19/35 (b)		512,138		508,670
Towd Point Mortgage Funding plc 1.798%, 3M GBP LIBOR + 1.025%, 10/20/51 (144A) (GBP)		30,201,023		37,147,652
WaMu Mortgage Pass-Through Certificates Trust
2.518%, 1M LIBOR + 0.500%, 02/25/45 (b)		7,354,606		7,329,191
3.846%, 12M MTA + 1.400%, 06/25/42 (b)		73,835		73,523
Wells Fargo Mortgage-Backed Securities Trust
4.785%, 09/25/33 (b)		215,071		222,772
4.991%, 03/25/36 (b)		4,030,306		4,068,605
5.750%, 03/25/36		1,404,903		1,388,885
				261,579,336
Commercial Mortgage-Backed Securities—1.6%
Bancorp Commercial Mortgage Trust (The) 2.928%, 1M LIBOR + 0.900%, 09/15/35 (144A) (b)		4,047,034		4,047,180
CSAIL Commercial Mortgage Trust 3.314%, 11/15/49		2,900,000		3,011,001
DBGS Mortgage Trust 3.843%, 04/10/37 (144A)		11,950,000		13,143,666

BHFTI-304

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
GPT Mortgage Trust 3.040%, 1M LIBOR + 1.013%, 06/15/35 (144A) (b)		1,180,057	$	1,176,364
GS Mortgage Securities Corp. Trust 2.856%, 05/10/34 (144A)		8,900,000		8,935,555
GS Mortgage Securities Trust
3.278%, 11/10/49 (b)		2,500,000		2,619,025
3.722%, 10/10/49 (144A) (b)		13,346,000		13,911,849
JPMorgan Chase Commercial Mortgage Securities Trust
3.028%, 1M LIBOR + 1.000%, 06/15/32 (144A) (b)		16,510,618		16,495,003
3.600%, 1M LIBOR + 1.450%, 12/15/31 (144A) (b)		12,447,000		12,446,927
Morgan Stanley Bank of America Merrill Lynch Trust 2.952%, 11/15/49		10,000,000		10,303,098
				86,089,668
Total Mortgage-Backed Securities (Cost $343,637,220)				347,669,004
Municipals—0.4%
Chicago Transit Authority Transfer Tax Receipts Revenue 6.300%, 12/01/21		175,000		182,732
City of Chicago General Obligation Unlimited 7.750%, 01/01/42		1,939,000		2,233,030
New Jersey Economic Development Authority, Revenue Bond Zero Coupon, 02/15/22		6,140,000		5,829,070
State of Illinois General Obligation Unlimited, Build America Bond 6.725%, 04/01/35		5,720,000		6,704,526
Tobacco Settlement Finance Authority 7.467%, 06/01/47		6,695,000		6,927,785
Total Municipals (Cost $20,210,121)				21,877,143
Floating Rate Loan (p)—0.1%
Media—0.1%
CSC Holdings LLC Term Loan B, 4.890%, 1M LIBOR + 2.500%, 01/25/26 (Cost $5,311,331)		5,332,500		5,347,474
Short-Term Investments—0.1%
Repurchase Agreements—0.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19, at 2.500%, due on 10/01/19 with a maturity value of $2,400,167; collateralized by U.S. Treasury Note at 2.250%, maturing 03/31/21, with a market value of $2,448,948.		2,400,000		2,400,000
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $2,911,343; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $2,973,293.		2,911,278		2,911,278
				5,311,278
U.S. Treasury—0.0%
U.S. Treasury Bill 1.782%, 12/26/19 (d) (j) (q)		547,000		544,663
Total Short-Term Investments (Cost $5,855,949)				5,855,941
Total Purchased Options—0.0% (r) (Cost $381,009)				15,835
Total Investments—163.2% (Cost $8,465,459,180)				8,664,872,036
Other assets and liabilities (net)—(63.2)%				(3,354,016,627	)
Net Assets—100.0%			$	5,310,855,409

*	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 September 30, 2019. 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 reverse repurchase agreements. As of September 30, 2019, the value of securities pledged amounted to $636,830,718.
(e)	All or a portion of this security has been transferred in a secured-borrowing transaction.
(f)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2019, the market value of securities pledged was $44,386,259.
(g)	All or a portion of the security was pledged as collateral against TBA securities. As of September 30, 2019, the value of securities pledged amounted to $1,779,385.
(h)	All or a portion of the security was pledged as collateral against open secured borrowing transactions. As of September 30, 2019, the value of securities pledged amounted to $6,854,610.
(i)	Principal amount of security is adjusted for inflation.
(j)	All or a portion of the security was pledged as collateral against open OTC swap contracts and open forward foreign currency exchange contracts. As of September 30, 2019, the market value of securities pledged was $9,842,009.
(k)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2019, the market value of securities pledged was $26,038,060.
(l)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(m)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2019, these securities represent 0.1% of net assets.
(n)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(o)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.

BHFTI-305

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

(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 generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(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 September 30, 2019, the market value of 144A securities was $1,517,291,789, which is 28.6% of net assets.

Reverse Repurchase Agreements

Counterparty	Interest Rate			Settlement Date		Maturity Date		Principal Amount			Net Closing Amount
Barclays Bank plc		1.450	%		09/23/19		09/23/21		USD	3,798,000	$	3,798,000
Deutsche Bank Securities, Inc.		2.100	%		09/30/19		10/15/19		USD	2,609,750		2,609,750
Deutsche Bank Securities, Inc		2.100	%		09/27/19		10/11/19		USD	23,000,858		23,000,858
Deutsche Bank Securities, Inc		2.250	%		09/03/19		10/01/19		USD	61,193,875		61,193,875
Deutsche Bank Securities, Inc		2.250	%		08/28/19		10/08/19		USD	91,618,035		91,618,035
J.P. Morgan Securities LLC		2.200	%		09/26/19		12/20/19		USD	452,700,593		452,700,593
Total											$	634,921,111

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
Uniform Mortgage-Backed Securities		4.500	%		TBA		(29,500,000	)	$	(31,045,840	)	$	(31,083,320	)
Uniform Mortgage-Backed Securities		5.000	%		TBA		(53,000,000	)		(56,751,406	)		(56,813,516	)
Totals									$	(87,797,246	)	$	(87,896,836	)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	1,900,000	BBP		10/02/19		USD	1,280,375	$	2,031
AUD	2,011,000	CBNA		10/02/19		USD	1,383,061		(25,737	)
AUD	3,431,000	GSBU		10/02/19		USD	2,359,320		(43,566	)
AUD	1,498,000	JPMC		10/02/19		USD	1,024,892		(13,817	)
AUD	6,071,000	CBNA		11/04/19		USD	4,112,729		(10,372	)
BRL	45,400,000	JPMC		01/03/20		USD	11,950,513		(1,083,810	)
BRL	45,500,000	JPMC		01/03/20		USD	11,961,722		(1,071,084	)
BRL	61,300,000	JPMC		01/03/20		USD	16,170,303		(1,497,859	)
CAD	61,958,748	CBNA		10/02/19		USD	46,771,909		(4,489	)
CAD	2,017,000	GSBU		10/02/19		USD	1,520,949		1,514
CAD	1,539,000	UBSA		10/02/19		USD	1,170,541		(8,880	)
EUR	61,840,000	BNP		11/15/19		USD	68,473,169		(850,883	)
EUR	2,885,000	BBP		11/15/19		USD	3,219,263		(64,504	)
EUR	1,211,000	CBNA		11/15/19		USD	1,366,692		(42,458	)
EUR	1,375,000	CBNA		11/15/19		USD	1,522,715		(19,147	)
EUR	2,019,000	CBNA		11/15/19		USD	2,273,432		(65,647	)
EUR	1,061,000	JPMC		11/15/19		USD	1,166,672		(6,465	)
EUR	1,375,000	JPMC		11/15/19		USD	1,529,692		(26,124	)
EUR	1,474,000	JPMC		11/15/19		USD	1,641,591		(29,766	)

BHFTI-306

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	2,472,000	JPMC		11/15/19		USD	2,728,260	$	(25,118	)
GBP	1,461,000	BNP		11/15/19		USD	1,824,524		(25,019	)
GBP	1,975,000	BNP		11/15/19		USD	2,440,409		(7,812	)
GBP	956,000	CBNA		11/15/19		USD	1,159,815		17,685
GBP	1,017,000	CBNA		11/15/19		USD	1,261,071		(8,438	)
GBP	2,126,000	CBNA		11/15/19		USD	2,585,866		32,716
GBP	2,560,000	JPMC		11/15/19		USD	3,195,356		(42,218	)
GBP	29,615,000	JPMC		11/15/19		USD	36,199,069		277,555
JPY	111,200,000	BBP		11/15/19		USD	1,033,687		(2,303	)
JPY	139,200,000	BBP		11/15/19		USD	1,297,980		(6,895	)
JPY	208,400,000	BBP		11/15/19		USD	1,956,042		(23,126	)
JPY	262,900,000	BBP		11/15/19		USD	2,439,510		(1,104	)
JPY	123,100,000	CBNA		11/15/19		USD	1,155,666		(13,910	)
JPY	1,350,200,000	CBNA		11/15/19		USD	12,842,487		(319,338	)
JPY	2,130,400,000	CBNA		11/15/19		USD	20,240,109		(480,579	)
JPY	23,955,200,000	CBNA		11/15/19		USD	226,265,807		(4,080,540	)
JPY	4,263,100,000	JPMC		11/15/19		USD	40,518,422		(978,030	)
MXN	1,287,000	UBSA		10/09/19		USD	65,909		(769	)
MXN	1,287,000	GSBU		10/16/19		USD	65,812		(747	)
MYR	1,437,265	GSBU		12/18/19		USD	343,145		(244	)
RUB	20,001,022	CBNA		11/15/19		USD	302,752		3,900
Contracts to Deliver
AUD	6,071,000	CBNA		10/02/19		USD	4,108,246		10,624
AUD	2,769,000	CBNA		10/02/19		USD	1,877,688		8,751
BRL	62,500,000	BNP		01/03/20		USD	16,306,617		1,346,948
BRL	66,800,000	CBNA		01/03/20		USD	15,934,734		(54,160	)
BRL	109,450,000	JPMC		01/03/20		USD	26,327,817		130,445
BRL	285,500,000	BNP		04/02/20		USD	69,316,306		1,346,589
BRL	143,500,000	CBNA		04/02/20		USD	34,820,800		657,387
BRL	109,450,000	JPMC		04/02/20		USD	25,997,625		(59,418	)
CAD	65,514,748	BBP		10/02/19		USD	49,281,500		(170,044	)
CAD	61,958,748	CBNA		11/04/19		USD	46,794,694		2,536
CNH	222,438,211	SG		03/17/20		USD	30,853,486		(178,430	)
CNH	384,795,741	CBNA		03/18/20		USD	53,331,353		(349,533	)
CNH	460,451,505	DBAG		03/18/20		USD	63,911,653		(323,582	)
CNH	143,077,582	UBSA		03/18/20		USD	19,857,040		(102,981	)
EUR	43,154,000	BNP		11/15/19		USD	48,128,582		939,511
EUR	5,143,000	BNP		11/15/19		USD	5,699,580		75,689
EUR	4,472,000	BNP		11/15/19		USD	4,961,789		71,639
EUR	4,335,000	BNP		11/15/19		USD	4,834,910		94,570
EUR	166,060,000	BBP		11/15/19		USD	187,727,343		6,140,074
EUR	1,592,000	BBP		11/15/19		USD	1,763,856		22,998
EUR	7,482,000	CBNA		11/15/19		USD	8,337,989		156,393
EUR	4,508,000	CBNA		11/15/19		USD	5,042,207		112,691
EUR	2,320,000	GSBU		11/15/19		USD	2,604,684		67,755
EUR	4,437,000	JPMC		11/15/19		USD	4,925,833		73,956
GBP	73,098,000	BNP		11/15/19		USD	88,550,011		(1,484,373	)
GBP	24,138,000	CBNA		11/15/19		USD	29,780,318		49,683
GBP	7,102,000	CBNA		11/15/19		USD	8,793,471		45,978
GBP	5,313,000	CBNA		11/15/19		USD	6,633,003		89,011
GBP	50,348,000	JPMC		11/15/19		USD	61,721,810		(291,531	)
GBP	4,952,000	JPMC		11/15/19		USD	6,063,679		(35,670	)
JPY	4,380,900,000	BNP		11/15/19		USD	41,622,871		989,880
JPY	5,047,600,000	CBNA		11/15/19		USD	47,717,828		901,173
JPY	1,910,500,000	CBNA		11/15/19		USD	18,060,126		340,176

BHFTI-307

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
KRW	167,742,730	CBNA		12/18/19		USD	140,937	$	384
MXN	1,287,000	BBP		10/09/19		USD	65,708		569
MXN	1,287,000	UBSA		10/16/19		USD	65,835		771
MXN	1,287,000	JPMC		01/22/20		USD	64,041		(55	)
SEK	1,040,000	JPMC		11/15/19		USD	109,031		3,083
TWD	59,631,722	BNP		12/18/19		USD	1,946,205		15,600
TWD	529,426,071	GSBU		12/18/19		USD	17,265,395		124,976
Net Unrealized Appreciation								$	224,666

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Call Options on Euro-Bund 10 Year Futures, Strike EUR 185.50		11/22/19		900			EUR	9,000		$	(844	)
Call Options on Euro-Bund 10 Year Futures, Strike EUR 192.00		11/22/19		500			EUR	5,000			(278	)
Call Options on Euro-OAT Futures, Strike EUR 192.00		11/22/19		331			EUR	3,310			(184	)
Call Options on Euro-OAT Futures, Strike EUR 200.00		11/22/19		518			EUR	5,180			(288	)
Euro-BTP Futures		12/06/19		2,230			EUR	325,223,200			4,546,936
Euro-BTP Futures		12/06/19		329			EUR	37,075,010			110,820
Euro-Buxl 30 Year Bond Futures		12/06/19		139			EUR	30,232,500			(674,367	)
Put Options on Euro-BTP Futures, Strike EUR 100.00		11/22/19		493			EUR	4,930			(274	)
Put Options on Euro-BTP Futures, Strike EUR 101.00		11/22/19		1,272			EUR	12,720			(898	)
U.S. Treasury Note 10 Year Futures		12/19/19		4,046			USD	527,244,375			(3,420,160	)
U.S. Treasury Note 5 Year Futures		12/31/19		7,306			USD	870,498,488			(4,979,240	)
Futures Contracts—Short
3-Month Euribor		09/14/20		(1,766	)		EUR	(443,906,175	)		551,287
3-Month Euribor		12/14/20		(3,421	)		EUR	(859,996,638	)		658,570
Australian 10 Year Treasury Bond Futures		12/16/19		(1,513	)		AUD	(222,939,491	)		(1,725,745	)
Euro-Bobl Futures		12/06/19		(392	)		EUR	(53,174,800	)		124,301
Euro-Bund Futures		12/06/19		(22	)		EUR	(3,833,500	)		(29,978	)
Euro-OAT Futures		12/06/19		(1,070	)		EUR	(182,231,700	)		2,129,341
Euro-Schatz Futures		12/06/19		(576	)		EUR	(64,702,080	)		106,188
Put Options on Euro-Bund 10 Year Futures, Strike EUR 171.00		10/25/19		(298	)		EUR	(20,860	)		74,426
Put Options on Euro-Bund 10 Year Futures, Strike EUR 171.50		10/25/19		(406	)		EUR	(44,660	)		105,933
Put Options on Euro-Bund 10 Year Futures, Strike EUR 173.50		10/25/19		(603	)		EUR	(295,470	)		(45,263	)
Put Options on Euro-Bund 10 Year Futures, Strike EUR 174.00		10/25/19		(254	)		EUR	(172,720	)		(38,900	)
U.S. Treasury Long Bond Futures		12/19/19		(965	)		USD	(156,631,563	)		(3,715,903	)
United Kingdom Long Gilt Bond Futures		12/27/19		(62	)		GBP	(8,322,880	)		(58,121	)
Net Unrealized Depreciation										$	(6,282,641	)

Purchased Options

Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized (Depreciation)
USD Call/JPY Put		JPY	113.000		BNP		10/01/19		100,000,000		USD	100,000,000	$	10,000	$	100	$	(9,900	)
USD Call/JPY Put		JPY	113.500		GSBU		10/10/19		40,000,000		USD	40,000,000		4,000		40		(3,960	)
Totals													$	14,000	$	140	$	(13,860	)

BHFTI-308

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Purchased Options—(Continued)

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount			Premium Paid		Market Value		Unrealized Depreciation
Call - U.S. Treasury Bond Futures		USD	193.000		11/22/19		306		USD	306,000	$	2,632	$	306	$	(2,326	)
Call - U.S. Treasury Bond Futures		USD	225.000		11/22/19		164		USD	164,000		1,410		164		(1,246	)
Call - U.S. Treasury Bond Futures		USD	222.000		11/22/19		149		USD	149,000		1,281		149		(1,132	)
Call - U.S. Treasury Bond Futures		USD	190.000		11/22/19		46		USD	46,000		396		46		(350	)
Call - U.S. Treasury Bond Futures		USD	191.000		11/22/19		7		USD	7,000		60		7		(53	)
Call - U.S. Treasury Bond Futures		USD	220.000		11/22/19		139		USD	139,000		1,196		139		(1,057	)
Call - U.S. Treasury Bond Futures		USD	215.000		11/22/19		47		USD	47,000		404		47		(357	)
Put - U.S. Treasury Note 10 Year Futures		USD	115.500		11/22/19		3,064		USD	3,064,000		26,350		3,064		(23,286	)
Put - U.S. Treasury Note 10 Year Futures		USD	115.000		11/22/19		1,394		USD	1,394,000		11,989		1,394		(10,595	)
Put - U.S. Treasury Note 10 Year Futures		USD	116.500		11/22/19		1,245		USD	1,245,000		10,707		1,245		(9,462	)
Put - U.S. Treasury Note 10 Year Futures		USD	119.000		11/22/19		915		USD	915,000		7,869		915		(6,954	)
Put - U.S. Treasury Note 10 Year Futures		USD	117.000		11/22/19		4		USD	4,000		34		4		(30	)
Put - U.S. Treasury Note 5-Year Futures		USD	108.500		11/22/19		2,205		USD	2,205,000		18,963		2,204		(16,759	)
Put - U.S. Treasury Note 5-Year Futures		USD	108.250		11/22/19		2,148		USD	2,148,000		18,473		2,148		(16,325	)
Put - U.S. Treasury Note 5-Year Futures		USD	108.000		11/22/19		2,117		USD	2,117,000		18,206		2,117		(16,089	)
Put - U.S. Treasury Note 5-Year Futures		USD	109.000		11/22/19		1,292		USD	1,292,000		11,111		1,292		(9,819	)
Put - U.S. Treasury Note 5-Year Futures		USD	109.250		11/22/19		123		USD	123,000		1,058		123		(935	)
Put - U.S. Treasury Note 5-Year Futures		USD	110.000		11/22/19		21		USD	21,000		181		21		(160	)
Totals											$	132,320	$	15,385	$	(116,935	)

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 Depreciation

Put - OTC - 30 Yr. IRS

2.943

%

GSBU

3M LIBOR

Receive

12/12/19

4,800,000

USD

4,800,000

$

230,400

$

308

$

(230,092

)

OTC Options on Securities	Counterparty		Strike Price		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Depreciation
Put - Uniform Mortgage-Backed Securities, TBA, 3.000%		JPMC		USD    72.000		11/06/19		59,800,000		USD	59,800,000	$	2,336	$	1	$	(2,335	)
Put - Uniform Mortgage-Backed Securities, TBA, 3.000%		JPMC		USD    70.000		11/06/19		50,000,000		USD	50,000,000		1,953		1		(1,952	)
Totals												$	4,289	$	2	$	(4,287	)

Written Options

Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
USD Call/MXN Put		MXN	20.240		GSBU		10/09/19		(52,400,000	)		USD	(52,400,000	)	$	(514,568	)	$	(40,296	)	$	474,272
USD Call/MXN Put		MXN	20.320		CBNA		10/15/19		(59,700,000	)		USD	(59,700,000	)		(613,607	)		(71,819	)		541,788
Totals															$	(1,128,175	)	$	(112,115	)	$	1,016,060

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 [0.000% - (Final Index/Initial Index - 1)] 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		(15,400,000	)		USD	(15,400,000	)		(130,520	)		—			130,520
Floor - OTC CPURNSA Index		216.687		CBNA	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		04/07/20		(37,100,000	)		USD	(37,100,000	)		(331,080	)		—			331,080
Floor - OTC CPURNSA Index		217.965		CBNA	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		09/29/20		(17,100,000	)		USD	(17,100,000	)		(220,590	)		(2	)		220,588
Floor - OTC CPURNSA Index		218.011		DBAG	Maximum of [0.000% - (Final Index/Initial Index - 1)] or 0		10/13/20		(18,000,000	)		USD	(18,000,000	)		(176,400	)		—			176,400
Totals															$	(902,090	)	$	(2	)	$	902,088

BHFTI-309

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Written Options—(Continued)

OTC Options on Securities	Counterparty	Strike Price		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Call - Uniform Mortgage-Backed Securities, TBA, 3.000%	JPMC		USD    101.594		11/06/19		(30,300,000	)		USD	(30,300,000	)	$	(98,238	)	$	(1,050	)	$	97,188
Call - Uniform Mortgage-Backed Securities, TBA, 3.000%	JPMC		USD    101.602		11/06/19		(30,300,000	)		USD	(30,300,000	)		(97,055	)		(1,038	)		96,017
Call - Uniform Mortgage-Backed Securities, TBA, 3.000%	JPMC		USD    102.133		11/06/19		(28,100,000	)		USD	(28,100,000	)		(87,813	)		(41,015	)		46,798
Call - Uniform Mortgage-Backed Securities, TBA, 3.000%	JPMC		USD    102.188		11/06/19		(28,100,000	)		USD	(28,100,000	)		(82,324	)		(37,058	)		45,266
Totals													$	(365,430	)	$	(80,161	)	$	285,269

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
Put - OTC - 5 Yr. IRS		2.750	%		GSBU		3M LIBOR		Pay		12/12/19		(21,300,000	)		USD	(21,300,000	)	$	(232,364	)	$	(19	)	$	232,345

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Call - U.S. Treasury Note 10 Year Futures		USD	131.000		10/25/19		(532	)		USD	(532,000	)	$	(220,248	)	$	(216,125	)	$	4,123
Put - U.S. Treasury Note 5 Year Futures		USD	118.500		10/25/19		(319	)		USD	(319,000	)		(69,382	)		(52,336	)		17,046
Totals													$	(289,630	)	$	(268,461	)	$	21,169

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	2.800%	Semi-Annually		08/22/23		USD	51,400,000	$	2,478,645		$	—		$	2,478,645
Pay	6M LIBOR		Semi-Annually	0.097%	Semi-Annually		09/24/26		JPY	2,007,000,000		27,739			2,746			24,993
Pay	6M LIBOR		Semi-Annually	0.062%	Semi-Annually		09/18/26		JPY	4,400,000,000		159,723			(1,959	)		161,682
Pay	6M LIBOR		Semi-Annually	0.063%	Semi-Annually		09/19/26		JPY	1,649,000,000		60,027			—			60,027
Pay	6M LIBOR		Semi-Annually	0.064%	Semi-Annually		09/19/26		JPY	1,649,000,000		58,952			—			58,952
Pay	6M LIBOR		Semi-Annually	0.068%	Semi-Annually		09/18/26		JPY	2,750,000,000		89,193			—			89,193
Pay	6M LIBOR		Semi-Annually	0.087%	Semi-Annually		09/20/26		JPY	825,000,000		16,946			—			16,946
Pay	6M LIBOR		Semi-Annually	0.088%	Semi-Annually		09/17/26		JPY	2,740,000,000		55,005			—			55,005
Pay	6M LIBOR		Semi-Annually	0.092%	Semi-Annually		09/13/26		JPY	1,650,000,000		28,901			—			28,901
Pay	6M LIBOR		Semi-Annually	0.095%	Semi-Annually		09/13/26		JPY	3,300,000,000		51,378			—			51,378
Pay	6M LIBOR		Semi-Annually	0.100%	Semi-Annually		03/20/24		JPY	11,440,000,000		1,246,196			364,225			881,971
Pay	6M LIBOR		Semi-Annually	0.103%	Semi-Annually		08/28/39		JPY	540,000,000		(88,336	)		—			(88,336	)
Pay	6M LIBOR		Semi-Annually	0.122%	Semi-Annually		08/22/39		JPY	3,450,000,000		(442,324	)		302,698			(745,022	)
Pay	6M LIBOR		Semi-Annually	0.123%	Semi-Annually		08/22/39		JPY	2,370,000,000		(301,674	)		62,151			(363,825	)
Pay	6M LIBOR		Semi-Annually	0.380%	Semi-Annually		06/18/28		JPY	14,280,000,000		5,278,443			491,810			4,786,633
Pay	6M LIBOR		Semi-Annually	1.000%	Semi-Annually		03/21/48		JPY	520,000,000		961,672			1,265,735			(304,063	)
Receive	3M LIBOR		Semi-Annually	2.250%	Quarterly		06/20/28		USD	159,400,000		(9,222,980	)		9,015,763			(18,238,743	)
Receive	3M LIBOR		Semi-Annually	2.905%	Quarterly		08/22/48		USD	10,200,000		(2,838,037	)		—			(2,838,037	)
Receive	3M LIBOR		Semi-Annually	2.930%	Quarterly		08/22/48		USD	11,900,000		(3,381,024	)		—			(3,381,024	)
Receive	3M LIBOR		Semi-Annually	2.940%	Quarterly		08/22/48		USD	10,400,000		(2,979,308	)		—			(2,979,308	)
Receive	6M LIBOR		Semi-Annually	0.300%	Semi-Annually		03/18/26		JPY	22,180,000,000		(5,728,132	)		(1,403,954	)		(4,324,178	)
Receive	6M LIBOR		Semi-Annually	0.300%	Semi-Annually		03/18/26		JPY	28,940,000,000		(7,576,574	)		(2,173,885	)		(5,402,689	)
Receive	6M LIBOR		Semi-Annually	0.300%	Semi-Annually		09/20/27		JPY	6,210,000,000		(1,818,753	)		(221,307	)		(1,597,446	)
Receive	6M LIBOR		Semi-Annually	0.300%	Semi-Annually		03/20/28		JPY	3,500,000,000		(1,050,667	)		251,206			(1,301,873	)
Receive	6M LIBOR		Semi-Annually	0.399%	Semi-Annually		06/18/28		JPY	2,220,000,000		(854,938	)		(1,920	)		(853,018	)
Receive	6M LIBOR		Semi-Annually	0.450%	Semi-Annually		03/20/29		JPY	2,390,000,000		(1,053,110	)		(176,533	)		(876,577	)
Receive	6M LIBOR		Semi-Annually	0.705%	Semi-Annually		10/31/38		JPY	1,700,000,000		(1,582,933	)		103,620			(1,686,553	)
Receive	6M LIBOR		Semi-Annually	0.750%	Semi-Annually		03/18/25		GBP	92,900,000		(970,674	)		(116,459	)		(854,215	)
Receive	6M LIBOR		Semi-Annually	0.750%	Semi-Annually		03/18/30		GBP	14,300,000		(189,299	)		147,407			(336,706	)
Receive	6M LIBOR		Semi-Annually	0.750%	Semi-Annually		03/20/38		JPY	7,260,000,000		(7,236,661	)		267,333			(7,503,994	)

BHFTI-310

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (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	6M LIBOR		Semi-Annually	0.750%	Semi-Annually		12/20/38		JPY	7,300,000,000	$	(7,409,697	)	$	420,767		$	(7,830,464	)
Receive	6M LIBOR		Semi-Annually	0.750%	Semi-Annually		03/18/50		GBP	21,900,000		(351,071	)		532,190			(883,261	)
Receive	6M LIBOR		Semi-Annually	0.785%	Semi-Annually		11/12/38		JPY	870,000,000		(934,388	)		2,835			(937,223	)
Receive	6M LIBOR		Semi-Annually	0.800%	Semi-Annually		10/22/38		JPY	570,000,000		(626,317	)		—			(626,317	)
Receive	6M LIBOR		Semi-Annually	1.000%	Semi-Annually		12/18/29		GBP	9,100,000		(394,044	)		39,125			(433,169	)
Receive	6M LIBOR		Semi-Annually	1.250%	Semi-Annually		12/18/49		GBP	34,900,000		(6,565,164	)		(729,163	)		(5,836,001	)
Totals											$	(53,083,285	)	$	8,444,431		$	(61,527,716	)

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

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2019 (a)		Notional Amount(b)			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Berkshire Hathaway, Inc. 1.550%, due 02/09/18		1.000%		Quarterly		12/20/21		0.213%		USD	10,500,000	$	181,535		$	248,233		$	(66,698	)
CDX.NA.IG.31		1.000%		Quarterly		12/20/23		0.459%		USD	6,300,000		138,606			57,253			81,353
CDX.NA.IG.32		1.000%		Quarterly		06/20/24		0.527%		USD	4,800,000		102,571			99,450			3,121
CDX.NA.IG.33		1.000%		Quarterly		12/20/24		0.598%		USD	900,000		17,892			18,213			(321	)
General Electric Co. 2.700%, due 10/09/22		1.000%		Quarterly		12/20/23		0.980%		USD	4,800,000		3,821			(188,517	)		192,338
General Electric Co. 2.700%, due 10/09/22		1.000%		Quarterly		06/20/24		1.135%		USD	3,500,000		(20,762	)		(5,561	)		(15,201	)
General Electric Co. 2.700%, due 10/09/22		1.000%		Quarterly		12/20/24		1.296%		USD	1,100,000		(15,645	)		(18,437	)		2,792
Goldman Sach Group, Inc. 5.950%, due 1/18/18		1.000%		Quarterly		09/20/20		0.231%		USD	22,500,000		168,728			403,903			(235,175	)
Rolls Royce plc 6.750%, due 4/30/19		1.000%		Quarterly		06/20/24		0.911%		EUR	6,200,000		28,017			9,636			18,381
Tesco plc 6.000%, due 12/14/29		1.000%		Quarterly		06/20/22		0.503%		EUR	24,700,000		367,294			108,498			258,796
Totals												$	972,057		$	732,671		$	239,386

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

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Counterparty		Implied Credit Spread at September 30, 2019(a)		Notional Amount(b)			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	$	168,071		$	322,061		$	(153,990	)
Italy Government International Bond 6.875%, due 09/27/23		1.000%		Quarterly		06/20/24		BBP		0.914%		USD	74,500,000		283,929			(1,937,726	)		2,221,655
Petrobras International Finance Co. S.A. 8.375%, due 12/10/18		1.000%		Quarterly		12/20/19		BNP		0.171%		USD	3,200,000		5,935			(382,937	)		388,872
Petrobras International Finance Co. S.A. 8.375%, due 12/10/18		1.000%		Quarterly		03/20/20		BNP		0.219%		USD	1,600,000		5,920			(308,005	)		313,925
Republic of South Africa 5.500%, due 03/09/20		1.000%		Quarterly		06/20/24		GSI		1.807%		USD	14,280,000		(502,085	)		(537,077	)		34,992
Russian Federation 7.500%, due 03/31/30		1.000%		Quarterly		12/20/23		JPMC		0.687%		USD	300,000		3,808			(6,302	)		10,110
Russian Federation 7.500%, due 03/31/30		1.000%		Quarterly		06/20/24		GSI		0.784%		USD	12,900,000		125,355			(185,631	)		310,986
Totals														$	90,933		$	(3,035,617	)	$	3,126,550

BHFTI-311

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

(a)	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.
(b)	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.
(c)	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.
(DBAG)—	Deutsche Bank AG
(GSBU)—	Goldman Sachs Bank USA
(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.
(SG)—	Societe Generale Paris
(UBSA)—	UBS AG

Currencies

(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CNH)—	Chinese Renminbi
(EUR)—	Euro
(GBP)—	British Pound
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(MYR)—	Malaysian Ringgit
(RUB)—	Russian Ruble
(SEK)—	Swedish Krona
(TWD)—	Taiwanese Dollar
(USD)—	United States Dollar

Index Abbreviations

(CDX.NA.IG)—	Markit North America Investment Grade CDS
(COFI)—	11th District Cost of Fund Index
(CPURNSA)—	U.S. Consumer Price Index for All Urban Consumers Non-Seasonally Adjusted
(EURIBOR)—	Euro InterBank Offered Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(PRIME)—	U.S. Federal Reserve Prime Rate
(SOFR)—	Secured Overnight Financing Rate
(SONIA)—	Sterling Overnight Index Average Deposit Rate

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(ICE)—	Intercontinental Exchange, Inc.
(IRS)—	Interest Rate Swap
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-312

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	4,326,252,334	$	—	$	4,326,252,334
Corporate Bonds & Notes
Advertising		—		1,435,172		—		1,435,172
Aerospace/Defense		—		26,102,885		—		26,102,885
Agriculture		—		51,453,084		—		51,453,084
Airlines		—		18,011,996		—		18,011,996
Auto Manufacturers		—		282,107,712		5,400,789		287,508,501
Auto Parts & Equipment		—		805,207		—		805,207
Banks		—		1,123,136,167		—		1,123,136,167
Beverages		—		21,443,046		—		21,443,046
Building Materials		—		1,511,863		—		1,511,863
Chemicals		—		8,293,671		—		8,293,671
Commercial Services		—		29,798,465		—		29,798,465
Computers		—		41,519,602		—		41,519,602
Diversified Financial Services		—		178,975,998		—		178,975,998
Electric		—		154,362,159		—		154,362,159
Electronics		—		6,251,970		—		6,251,970
Energy-Alternate Sources		—		8,813,200		—		8,813,200
Environmental Control		—		1,449,522		—		1,449,522
Food		—		77,757,321		—		77,757,321
Healthcare-Products		—		13,555,521		—		13,555,521
Home Builders		—		12,780,817		—		12,780,817
Household Products/Wares		—		10,563,277		—		10,563,277
Housewares		—		5,027,923		—		5,027,923
Insurance		—		44,873,709		—		44,873,709
Internet		—		17,008,766		—		17,008,766
Lodging		—		34,157,035		—		34,157,035
Media		—		28,992,741		—		28,992,741
Miscellaneous Manufacturing		—		15,044,104		—		15,044,104
Oil & Gas		—		49,857,098		—		49,857,098
Packaging & Containers		—		16,137,141		—		16,137,141
Pharmaceuticals		—		84,180,944		—		84,180,944
Pipelines		—		19,382,835		—		19,382,835
Real Estate		—		9,086,058		—		9,086,058
Real Estate Investment Trusts		—		190,759,107		—		190,759,107
Retail		—		14,302,833		—		14,302,833
Savings & Loans		—		9,862,557		—		9,862,557
Semiconductors		—		29,021,589		—		29,021,589
Software		—		28,541,145		—		28,541,145
Telecommunications		—		82,290,923		—		82,290,923
Trucking & Leasing		—		26,752,394		—		26,752,394
Total Corporate Bonds & Notes		—		2,775,407,557		5,400,789		2,780,808,346

BHFTI-313

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Total Asset-Backed Securities*	$	—		$	795,021,052		$	—	$	795,021,052
Total Foreign Government*		—			382,024,907			—		382,024,907
Total Mortgage-Backed Securities*		—			347,669,004			—		347,669,004
Total Municipals*		—			21,877,143			—		21,877,143
Total Floating Rate Loan*		—			5,347,474			—		5,347,474
Total Short-Term Investments*		—			5,855,941			—		5,855,941
Purchased Options
Foreign Currency Options at Value		—			140			—		140
Options on Exchange-Traded Futures Contracts at Value		15,385			—			—		15,385
Interest Rate Swaptions at Value		—			308			—		308
OTC Options on Securities at Value		—			2			—		2
Total Purchased Options	$	15,385		$	450		$	—	$	15,835
Total Investments	$	15,385		$	8,659,455,862		$	5,400,789	$	8,664,872,036
Total Reverse Repurchase Agreements (Liability)	$	—		$	(634,921,111	)	$	—	$	(634,921,111	)
TBA Forward Sales Commitments	$	—		$	(87,896,836	)	$	—	$	(87,896,836	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	14,155,241		$	—	$	14,155,241
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(13,930,575	)		—		(13,930,575	)
Total Forward Contracts	$	—		$	224,666		$	—	$	224,666
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	8,407,802		$	—		$	—	$	8,407,802
Futures Contracts (Unrealized Depreciation)		(14,690,443	)		—			—		(14,690,443	)
Total Futures Contracts	$	(6,282,641	)	$	—		$	—	$	(6,282,641	)
Written Options
Foreign Currency Options at Value	$	—		$	(112,115	)	$	—	$	(112,115	)
Inflation Capped Options at Value		—			(2	)		—		(2	)
OTC Options on Securities at Value					(80,161	)				(80,161	)
Interest Rate Swaptions at Value		—			(19	)		—		(19	)
Options on Exchange-Traded Futures Contracts at Value		(268,461	)		—			—		(268,461	)
Total Written Options	$	(268,461	)	$	(192,297	)	$	—	$	(460,758	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	9,251,107		$	—	$	9,251,107
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(70,539,437	)		—		(70,539,437	)
Total Centrally Cleared Swap Contracts	$	—		$	(61,288,330	)	$	—	$	(61,288,330	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	593,018		$	—	$	593,018
OTC Swap Contracts at Value (Liabilities)		—			(502,085	)		—		(502,085	)
Total OTC Swap Contracts	$	—		$	90,933		$	—	$	90,933

* 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 September 30, 2019 is not presented.

BHFTI-314

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—32.4% of Net Assets

Security Description	Principal Amount*		Value
Aerospace/Defense—0.2%
L3Harris Technologies, Inc. 3.850%, 06/15/23 (144A)		1,447,000	$	1,524,316
United Technologies Corp. 3.950%, 08/16/25		1,715,000		1,877,461
				3,401,777
Agriculture—0.6%
Altria Group, Inc.
3.800%, 02/14/24 (a)		1,746,000		1,825,383
3.875%, 09/16/46 (a)		829,000		762,947
BAT Capital Corp.
3.215%, 09/06/26 (a)		4,444,000		4,399,801
3.557%, 08/15/27		2,898,000		2,914,045
				9,902,176
Auto Manufacturers—0.1%
Ford Motor Credit Co. LLC 5.113%, 05/03/29		1,843,000		1,856,298
General Motors Financial Co., Inc. 3.150%, 06/30/22		606,000		613,013
				2,469,311
Banks—9.7%
Banco Santander S.A.
2.706%, 06/27/24		4,600,000		4,650,998
3.125%, 02/23/23		600,000		611,247
Bank of America Corp.
3.366%, 3M LIBOR + 0.810%, 01/23/26 (b)		3,219,000		3,355,921
3.500%, 04/19/26		1,410,000		1,499,577
3.559%, 3M LIBOR + 1.060%, 04/23/27 (b)		11,487,000		12,126,447
Bank of Ireland Group plc 4.500%, 11/25/23 (144A)		7,533,000		7,887,470
Bank of Montreal 2.922%, 3M LIBOR + 0.790%, 08/27/21 (b)		2,500,000		2,524,635
Barclays Bank plc 10.179%, 06/12/21 (144A)		2,795,000		3,125,761
BB&T Corp.
2.850%, 10/26/24		2,707,000		2,778,501
4.800%, 5Y H15 + 3.003%, 09/01/24 (b)		6,560,000		6,559,934
BBVA USA 3.500%, 06/11/21		5,000,000		5,082,532
BPCE S.A. 3.000%, 05/22/22 (144A)		5,547,000		5,628,810
Capital One N.A. 2.150%, 09/06/22		570,000		569,517
Citigroup, Inc.
3.300%, 04/27/25		2,775,000		2,898,997
3.887%, 3M LIBOR + 1.563%, 01/10/28 (b)		4,143,000		4,433,571
4.044%, 3M LIBOR + 1.023%, 06/01/24 (b)		3,522,000		3,720,052
Comerica, Inc. 3.700%, 07/31/23 (a)		2,345,000		2,462,342
Cooperatieve Rabobank UA 3.875%, 02/08/22		700,000		729,548
Banks—(Continued)
Credit Suisse Group AG
2.593%, SOFR + 1.560%, 09/11/25 (144A) (b)		932,000		923,230
Credit Suisse Group Funding Guernsey, Ltd. 4.550%, 04/17/26		545,000		600,122
Fifth Third Bancorp 3.650%, 01/25/24		4,501,000		4,745,050
First Republic Bank 4.625%, 02/13/47		1,945,000		2,237,810
HSBC Holdings plc
2.650%, 01/05/22		1,135,000		1,143,145
2.950%, 05/25/21		5,000,000		5,051,335
4.875%, 01/14/22		1,555,000		1,646,553
JPMorgan Chase & Co.
2.950%, 10/01/26		1,001,000		1,027,489
2.989%, 3M LIBOR + 0.730%, 04/23/24 (b)		5,496,000		5,482,210
3.702%, 3M LIBOR + 1.160%, 05/06/30 (b)		1,726,000		1,851,465
Lloyds Banking Group plc
2.858%, 3M LIBOR + 1.249%, 03/17/23 (b)		407,000		408,313
3.900%, 03/12/24		1,668,000		1,745,618
4.050%, 08/16/23		840,000		882,734
M&T Bank Corp. 5.125%, 3M LIBOR + 3.520%, 11/01/26 (a) (b)		1,654,000		1,736,700
Manufacturers & Traders Trust Co. 3.400%, 08/17/27		4,596,000		4,931,015
Morgan Stanley
3.875%, 01/27/26		6,473,000		6,944,995
4.431%, 3M LIBOR + 1.628%, 01/23/30 (a) (b)		6,527,000		7,334,061
PNC Bank N.A.
2.700%, 11/01/22		2,669,000		2,707,764
2.950%, 01/30/23		2,581,000		2,637,354
2.950%, 02/23/25		2,425,000		2,507,253
PNC Financial Services Group, Inc. (The) 2.600%, 07/23/26		3,510,000		3,553,757
Regions Bank 2.750%, 04/01/21		5,000,000		5,032,694
Regions Financial Corp. 2.750%, 08/14/22		2,000,000		2,030,697
Royal Bank of Scotland Group plc
3.875%, 09/12/23		3,365,000		3,472,682
4.269%, 3M LIBOR + 1.762%, 03/22/25 (a) (b)		400,000		418,340
Santander Holdings USA, Inc. 3.500%, 06/07/24		1,742,000		1,787,319
Santander UK Group Holdings plc 4.796%, 3M LIBOR + 1.570%, 11/15/24 (b)		2,691,000		2,882,967
Standard Chartered plc 3.885%, 3M LIBOR + 1.080%, 03/15/24 (144A) (b)		3,884,000		4,009,759
State Street Corp. 5.625%, 3M LIBOR + 2.539%, 12/15/23 (a) (b)		2,048,000		2,119,127
SunTrust Bank 3.525%, 3M LIBOR + 0.500%, 10/26/21 (a) (b)		4,500,000		4,563,151
SunTrust Banks, Inc. 2.700%, 01/27/22		1,690,000		1,708,922
UBS Group AG 3.126%, 3M LIBOR + 1.468%, 08/13/30 (144A) (b)		6,433,000		6,478,593

BHFTI-315

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Wells Fargo & Co.
3.196%, 3M LIBOR + 1.170%, 06/17/27 (b)		2,853,000	$	2,947,835
3.750%, 01/24/24		2,477,000		2,623,266
Zions Bancorp N.A. 3.500%, 08/27/21		2,135,000		2,181,545
				173,000,730
Beverages—1.0%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. 4.900%, 02/01/46		2,106,000		2,505,293
Anheuser-Busch InBev Worldwide, Inc.
3.750%, 07/15/42		2,137,000		2,201,138
4.000%, 04/13/28		1,522,000		1,680,252
Constellation Brands, Inc.
2.858%, 3M LIBOR + 0.700%, 11/15/21 (b)		2,208,000		2,208,003
3.150%, 08/01/29		1,983,000		2,030,769
3.600%, 02/15/28		1,613,000		1,703,349
3.700%, 12/06/26		1,403,000		1,484,838
Keurig Dr Pepper, Inc.
3.551%, 05/25/21		2,965,000		3,030,542
4.057%, 05/25/23		927,000		980,875
				17,825,059
Building Materials—0.4%
Boral Finance Pty, Ltd. 3.000%, 11/01/22 (144A)		6,495,000		6,516,533
Chemicals—0.4%
Mosaic Co. (The)
3.250%, 11/15/22		3,800,000		3,882,648
4.250%, 11/15/23		712,000		754,492
Sherwin-Williams Co. (The) 2.750%, 06/01/22		2,149,000		2,181,094
				6,818,234
Computers—0.4%
Apple, Inc. 3.450%, 02/09/45		1,034,000		1,100,371
Dell International LLC/EMC Corp.
4.000%, 07/15/24 (144A) (a)		806,000		843,053
4.900%, 10/01/26 (144A)		3,232,000		3,462,345
5.300%, 10/01/29 (144A) (a)		1,566,000		1,703,946
				7,109,715
Diversified Financial Services—1.5%
American Express Co. 3.125%, 05/20/26		5,763,000		5,990,416
Avolon Holdings Funding, Ltd . 3.625%, 05/01/22 (144A)		1,429,000		1,448,149
Capital One Financial Corp.
3.050%, 03/09/22		1,233,000		1,257,581
3.750%, 03/09/27		767,000		806,659
3.900%, 01/29/24		2,000,000		2,113,212
Diversified Financial Services—(Continued)
Discover Financial Services 4.500%, 01/30/26		6,115,000		6,643,836
Mastercard, Inc. 2.950%, 06/01/29		5,469,000		5,738,686
Synchrony Financial
3.950%, 12/01/27		1,590,000		1,630,255
4.375%, 03/19/24		745,000		790,617
				26,419,411
Electric—0.9%
Berkshire Hathaway Energy Co.
3.800%, 07/15/48		2,636,000		2,857,834
6.500%, 09/15/37		345,000		485,324
Enel Finance International NV 4.625%, 09/14/25 (144A)		1,750,000		1,911,639
Sempra Energy 3.800%, 02/01/38		5,720,000		5,896,370
Southern California Edison Co.
4.200%, 03/01/29		4,433,000		4,946,105
5.500%, 03/15/40		335,000		421,036
				16,518,308
Electronics—0.8%
Agilent Technologies, Inc. 2.750%, 09/15/29		4,670,000		4,619,748
Amphenol Corp. 2.800%, 02/15/30 (a)		8,289,000		8,062,706
Keysight Technologies, Inc. 4.600%, 04/06/27		2,110,000		2,322,331
				15,004,785
Food—1.2%
Campbell Soup Co. 3.950%, 03/15/25		1,662,000		1,762,078
Conagra Brands, Inc.
4.300%, 05/01/24		5,868,000		6,296,961
4.850%, 11/01/28 (a)		3,000,000		3,401,266
General Mills, Inc. 4.000%, 04/17/25		243,000		261,866
Grupo Bimbo S.A.B. de C.V. 5.950%, 5Y H15 + 3.280%, 04/17/23 (144A) (b)		1,000,000		1,052,000
Kraft Heinz Foods Co. 5.000%, 06/04/42		1,756,000		1,811,395
Kroger Co. (The) 4.450%, 02/01/47		3,594,000		3,709,851
Tyson Foods, Inc. 4.000%, 03/01/26		2,892,000		3,135,651
				21,431,068
Healthcare-Products—0.7%
Alcon Finance Corp.
2.750%, 09/23/26 (144A)		2,668,000		2,689,826
3.000%, 09/23/29 (144A) (a)		1,275,000		1,290,572

BHFTI-316

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—(Continued)
Becton Dickinson & Co. 3.363%, 06/06/24		2,295,000	$	2,393,966
Boston Scientific Corp. 4.000%, 03/01/29		2,177,000		2,406,817
Thermo Fisher Scientific, Inc. 2.600%, 10/01/29		3,066,000		3,054,904
				11,836,085
Healthcare-Services—0.3%
CommonSpirit Health
2.760%, 10/01/24		1,560,000		1,579,450
HCA, Inc. 5.125%, 06/15/39		1,721,000		1,882,137
Humana, Inc. 3.125%, 08/15/29		1,573,000		1,571,934
				5,033,521
Housewares—0.2%
Newell Brands, Inc.
3.850%, 04/01/23		1,108,000		1,142,522
4.200%, 04/01/26		2,719,000		2,840,346
				3,982,868
Insurance—1.0%
AIA Group, Ltd. 3.600%, 04/09/29 (144A)		2,200,000		2,349,564
AXA Equitable Holdings, Inc. 5.000%, 04/20/48		1,365,000		1,472,272
High Street Funding Trust II 4.682%, 02/15/48 (144A)		1,250,000		1,415,000
Progressive Corp. (The) 5.375%, 3M LIBOR + 2.539%, 03/15/23 (b)		5,556,000		5,736,570
Prudential Financial, Inc. 4.500%, 3M LIBOR + 2.380%, 09/15/47 (b)		6,399,000		6,551,248
				17,524,654
Lodging—0.2%
Las Vegas Sands Corp. 3.200%, 08/08/24		3,494,000		3,559,507
Machinery-Diversified—0.2%
Roper Technologies, Inc.
2.350%, 09/15/24		400,000		400,113
3.650%, 09/15/23		2,770,000		2,908,078
				3,308,191
Media—0.9%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.908%, 07/23/25		2,697,000		2,963,943
Comcast Corp.
4.150%, 10/15/28		2,632,000		2,953,163
4.600%, 10/15/38		5,794,000		6,942,748
Media—(Continued)
Discovery Communications LLC 4.125%, 05/15/29		2,506,000		2,639,914
				15,499,768
Mining—0.4%
Barrick North America Finance LLC 5.750%, 05/01/43		5,250,000		6,900,156
Miscellaneous Manufacturing—0.3%
General Electric Co. 4.125%, 10/09/42 (a)		630,000		635,944
Hexcel Corp. 3.950%, 02/15/27		1,182,000		1,230,353
Ingersoll-Rand Luxembourg Finance S.A. 3.500%, 03/21/26		3,655,000		3,807,061
				5,673,358
Oil & Gas—2.1%
Canadian Natural Resources, Ltd. 4.950%, 06/01/47 (a)		2,750,000		3,250,881
Cenovus Energy, Inc.
4.250%, 04/15/27		1,353,000		1,410,740
5.400%, 06/15/47 (a)		2,397,000		2,700,237
Concho Resources, Inc. 3.750%, 10/01/27		3,853,000		4,005,473
Continental Resources, Inc. 4.375%, 01/15/28 (a)		975,000		1,007,434
Devon Energy Corp.
5.000%, 06/15/45		1,750,000		2,027,700
5.850%, 12/15/25 (a)		1,595,000		1,896,053
EQT Corp. 3.900%, 10/01/27 (a)		5,030,000		4,361,034
Hess Corp.
3.500%, 07/15/24		1,074,000		1,096,162
4.300%, 04/01/27		1,176,000		1,228,866
Marathon Petroleum Corp. 4.500%, 04/01/48		2,723,000		2,846,595
Noble Energy, Inc. 3.250%, 10/15/29		3,066,000		3,035,173
Occidental Petroleum Corp.
2.900%, 08/15/24		650,000		654,936
3.437%, 3M LIBOR + 1.250%, 08/13/21 (b)		1,995,000		2,006,959
3.637%, 3M LIBOR + 1.450%, 08/15/22 (b)		2,273,000		2,288,002
Valero Energy Corp.
4.000%, 04/01/29		1,705,000		1,812,535
6.625%, 06/15/37 (a)		905,000		1,171,575
				36,800,355
Pharmaceuticals—1.2%
Bayer U.S. Finance LLC
4.250%, 12/15/25 (144A)		3,237,000		3,455,888
4.625%, 06/25/38 (144A)		1,000,000		1,082,416

BHFTI-317

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Bristol-Myers Squibb Co.
3.200%, 06/15/26 (144A)		2,452,000	$	2,570,749
3.400%, 07/26/29 (144A) (a)		7,607,000		8,133,525
CVS Health Corp. 5.050%, 03/25/48		2,000,000		2,274,465
Express Scripts Holding Co. 3.400%, 03/01/27		2,891,000		2,987,186
Merck & Co., Inc. 3.400%, 03/07/29		992,000		1,075,572
				21,579,801
Pipelines—1.7%
Enbridge, Inc. 6.000%, 3M LIBOR + 3.890%, 01/15/77 (b)		4,521,000		4,702,557
Energy Transfer Operating L.P.
4.050%, 03/15/25		2,257,000		2,360,760
5.250%, 04/15/29 (a)		750,000		846,057
Enterprise Products Operating LLC 5.375%, 3M LIBOR + 2.570%, 02/15/78 (b)		1,800,000		1,737,399
MPLX L.P.
4.500%, 04/15/38		5,263,000		5,458,179
ONEOK, Inc. 4.350%, 03/15/29		2,690,000		2,878,274
Sabine Pass Liquefaction LLC
4.200%, 03/15/28		5,640,000		5,979,280
5.625%, 03/01/25		500,000		561,906
Williams Cos., Inc. (The)
4.000%, 09/15/25		4,000,000		4,229,072
4.850%, 03/01/48		1,200,000		1,287,784
5.400%, 03/04/44		555,000		622,237
				30,663,505
Real Estate Investment Trusts—3.0%
Alexandria Real Estate Equities, Inc.
4.000%, 01/15/24		418,000		446,050
4.500%, 07/30/29		540,000		610,839
American Campus Communities Operating Partnership L.P. 3.750%, 04/15/23		444,000		462,364
American Tower Corp. 3.800%, 08/15/29		5,360,000		5,722,156
Boston Properties L.P.
2.900%, 03/15/30		1,400,000		1,393,177
4.500%, 12/01/28		2,671,000		3,038,974
Camden Property Trust
3.150%, 07/01/29		1,252,000		1,303,015
4.100%, 10/15/28		465,000		517,865
Crown Castle International Corp. 3.700%, 06/15/26		6,765,000		7,168,684
Digital Realty Trust L.P. 3.700%, 08/15/27		10,845,000		11,382,422
Duke Realty L.P. 3.375%, 12/15/27		1,449,000		1,511,945
Essex Portfolio L.P. 3.000%, 01/15/30		3,733,000		3,766,381
Real Estate Investment Trusts—(Continued)
Kimco Realty Corp. 3.700%, 10/01/49 (a)		3,214,000		3,150,787
Sabra Health Care L.P. / Sabra Capital Corp. 3.900%, 10/15/29		2,280,000		2,245,800
UDR, Inc. 3.200%, 01/15/30		1,935,000		1,993,251
Ventas Realty L.P. 3.500%, 02/01/25		1,740,000		1,822,203
Vornado Realty L.P. 3.500%, 01/15/25		3,000,000		3,097,724
Welltower, Inc. 3.625%, 03/15/24		3,805,000		3,995,280
				53,628,917
Retail—0.2%
Dollar Tree, Inc. 3.003%, 3M LIBOR + 0.700%, 04/17/20 (b)		3,000,000		3,000,539
Home Depot, Inc. (The) 5.950%, 04/01/41 (a)		990,000		1,417,832
				4,418,371
Semiconductors—0.1%
NXP B.V. / NXP Funding LLC 3.875%, 06/18/26 (144A)		1,660,000		1,745,600
Software—0.5%
Fidelity National Information Services, Inc. 3.750%, 05/21/29		1,823,000		1,978,043
Fiserv, Inc. 3.200%, 07/01/26		5,340,000		5,532,208
Microsoft Corp. 4.100%, 02/06/37		1,000,000		1,186,067
				8,696,318
Telecommunications—1.8%
AT&T, Inc.
4.100%, 02/15/28		5,542,000		6,001,459
4.125%, 02/17/26 (a)		1,986,000		2,145,011
4.300%, 02/15/30		1,972,000		2,170,292
4.300%, 12/15/42		1,951,000		2,037,121
4.750%, 05/15/46		1,676,000		1,859,792
4.850%, 03/01/39		2,500,000		2,833,777
Motorola Solutions, Inc. 4.600%, 02/23/28		1,418,000		1,531,309
Rogers Communications, Inc. 4.350%, 05/01/49		2,630,000		3,026,602
Telefonica Emisiones S.A.U. 5.213%, 03/08/47		3,054,000		3,557,612
Verizon Communications, Inc. 3.850%, 11/01/42		6,438,000		6,905,871
				32,068,846

BHFTI-318

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Shares/ Principal Amount*		Value
Transportation—0.4%
FedEx Corp. 4.100%, 02/01/45		1,600,000	$	1,580,544
Kansas City Southern 4.700%, 05/01/48		4,470,000		5,342,142
				6,922,686
Total Corporate Bonds & Notes (Cost $550,213,355)				576,259,614
Common Stocks—28.3%
Aerospace & Defense—0.1%
Boeing Co. (The)		1,100		418,517
Curtiss-Wright Corp.		1,300		168,181
L3Harris Technologies, Inc.		1,733		361,573
				948,271
Air Freight & Logistics—0.1%
C.H. Robinson Worldwide, Inc.		12,600		1,068,228
Expeditors International of Washington, Inc.		13,547		1,006,406
Royal Mail plc		32,332		84,138
				2,158,772
Airlines—0.0%
ANA Holdings, Inc.		10,300		346,384
Delta Air Lines, Inc.		3,700		213,120
Singapore Airlines, Ltd.		32,100		212,508
				772,012
Auto Components—0.3%
Cie Generale des Etablissements Michelin		3,624		404,982
Faurecia S.A.		3,487		165,781
FCC Co., Ltd.		9,100		176,278
Gentex Corp.		34,344		945,662
Hankook Tire & Technology Co., Ltd.		6,349		170,401
Hyundai Mobis Co., Ltd.		1,149		242,699
Keihin Corp.		10,400		153,625
Lear Corp.		4,000		471,600
Linamar Corp.		4,800		156,045
Magna International, Inc.		13,300		708,945
Martinrea International, Inc.		1,529		13,180
NHK Spring Co., Ltd.		25,600		196,681
Nissin Kogyo Co., Ltd.		5,800		81,755
Nokian Renkaat Oyj		21,567		608,908
Sumitomo Electric Industries, Ltd.		38,900		496,817
Tokai Rika Co., Ltd.		4,400		74,933
Topre Corp.		4,300		68,253
Toyota Boshoku Corp.		17,500		246,375
TS Tech Co., Ltd.		2,800		85,703
Unipres Corp.		4,500		71,035
Xinyi Glass Holdings, Ltd.		382,000		422,093
				5,961,751
Automobiles—0.1%
Fiat Chrysler Automobiles NV		13,793		178,716
Honda Motor Co., Ltd.		28,900		752,387
Isuzu Motors, Ltd.		19,000		210,861
Mahindra & Mahindra, Ltd. (GDR)		27,887		216,124
Mazda Motor Corp.		11,700		104,653
Nissan Motor Co., Ltd.		43,900		274,894
Peugeot S.A.		13,345		333,304
Suzuki Motor Corp.		6,000		254,865
Yamaha Motor Co., Ltd.		5,600		102,128
				2,427,932
Banks—2.2%
Awa Bank, Ltd. (The)		3,400		77,093
Axis Bank, Ltd. (GDR)		4,108		200,060
Banco Bilbao Vizcaya Argentaria S.A.		88,853		463,574
Banco de Chile (ADR)		11,921		334,980
Bangkok Bank PCL		37,500		212,832
Bank Central Asia Tbk PT		298,900		639,334
Bank Leumi Le-Israel B.M.		35,696		254,081
Bank of America Corp.		65,000		1,896,050
Bank of China, Ltd. - Class H		936,000		368,837
Bank of Ireland Group plc		26,244		104,306
Barclays plc		384,997		711,494
BB&T Corp.		8,800		469,656
BDO Unibank, Inc.		53,480		147,416
BNP Paribas S.A.		16,255		792,541
BOC Hong Kong Holdings, Ltd.		121,500		414,583
Cadence BanCorp (a)		13,200		231,528
Chiba Bank, Ltd. (The) (a)		62,000		320,797
China Construction Bank Corp. - Class H		662,000		503,414
Citigroup, Inc.		29,900		2,065,492
Citizens Financial Group, Inc.		20,600		728,622
Comerica, Inc.		12,100		798,479
Credit Agricole S.A.		15,813		192,282
Dah Sing Financial Holdings, Ltd.		14,400		53,313
DBS Group Holdings, Ltd.		56,700		1,021,934
Erste Group Bank AG (c)		12,762		422,496
First Interstate BancSystem, Inc. - Class A		3,100		124,744
Hachijuni Bank, Ltd. (The)		61,600		252,115
Hang Seng Bank, Ltd.		31,800		687,988
HSBC Holdings plc		303,189		2,329,423
ICICI Bank, Ltd. (ADR)		16,688		203,260
Industrial & Commercial Bank of China, Ltd. - Class H		197,000		131,544
ING Groep NV		50,137		525,568
Israel Discount Bank, Ltd. - Class A		30,605		134,630
Iyo Bank, Ltd. (The)		25,400		133,416
Japan Post Bank Co., Ltd.		50,300		488,921
JPMorgan Chase & Co.		42,800		5,037,132
Krung Thai Bank PCL (NVDR)		495,100		278,428
M&T Bank Corp.		5,800		916,226
Malayan Banking Bhd		238,500		485,121
Mediobanca S.p.A.		59,498		650,400
Mitsubishi UFJ Financial Group, Inc.		129,800		661,549
Mizuho Financial Group, Inc.		610,000		937,897

BHFTI-319

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Banks—(Continued)
OTP Bank		6,523	$	271,777
Oversea-Chinese Banking Corp., Ltd.		78,500		618,648
PNC Financial Services Group, Inc. (The)		10,600		1,485,696
Prosperity Bancshares, Inc.		3,500		247,205
Public Bank Bhd		81,500		390,959
Raiffeisen Bank International AG		4,630		107,620
Royal Bank of Scotland Group plc		252,229		644,451
Shizuoka Bank, Ltd. (The)		51,000		382,074
Societe Generale S.A.		16,599		455,397
Standard Chartered plc		84,054		706,648
Sumitomo Mitsui Financial Group, Inc.		20,300		697,264
U.S. Bancorp		7,600		420,584
UniCredit S.p.A.		37,793		446,486
United Overseas Bank, Ltd.		36,100		668,762
Wells Fargo & Co.		75,000		3,783,000
				38,730,127
Beverages—0.7%
Brown-Forman Corp. - Class B (a)		5,400		339,012
Coca-Cola Amatil, Ltd.		22,142		159,327
Coca-Cola Co. (The)		74,036		4,030,520
Diageo plc		43,254		1,769,960
Heineken NV		4,822		521,426
Monster Beverage Corp. (c)		9,900		574,794
PepsiCo, Inc.		28,994		3,975,078
Suntory Beverage & Food, Ltd.		8,400		359,265
				11,729,382
Biotechnology—0.5%
AbbVie, Inc.		41,058		3,108,912
Amgen, Inc.		15,760		3,049,717
Biogen, Inc. (c)		4,500		1,047,690
Gilead Sciences, Inc.		20,600		1,305,628
				8,511,947
Building Products—0.2%
Allegion plc		10,400		1,077,960
Asahi Glass Co., Ltd.		6,400		199,701
Assa Abloy AB - Class B		43,232		963,074
CSW Industrials, Inc.		1,300		89,739
dormakaba Holding AG (c)		633		408,174
Geberit AG		686		327,529
				3,066,177
Capital Markets—0.7%
Affiliated Managers Group, Inc.		7,800		650,130
Ameriprise Financial, Inc.		5,800		853,180
Bolsas y Mercados Espanoles SHMSF S.A.		9,103		229,978
CI Financial Corp.		53,800		784,960
Credit Suisse Group AG (c)		32,933		404,349
Daiwa Securities Group, Inc.		71,700		321,148
Deutsche Bank AG		56,103		420,268
Eaton Vance Corp.		16,100		723,373
FactSet Research Systems, Inc. (a)		2,000		485,940
Federated Investors, Inc. - Class B		13,300		431,053
Capital Markets—(Continued)
Franklin Resources, Inc. (a)		28,000		808,080
Goldman Sachs Group, Inc. (The)		5,090		1,054,801
IG Group Holdings plc		52,667		390,036
Invesco, Ltd. (a)		16,000		271,040
Moody’s Corp.		5,400		1,106,082
Morgan Stanley		22,400		955,808
MSCI, Inc.		39		8,492
Partners Group Holding AG		452		346,727
Platinum Asset Management, Ltd.		38,615		110,671
Raymond James Financial, Inc.		7,200		593,712
S&P Global, Inc.		3,100		759,438
Singapore Exchange, Ltd.		34,500		211,727
T. Rowe Price Group, Inc.		6,100		696,925
				12,617,918
Chemicals—0.3%
ADEKA Corp.		5,500		68,657
Air Products & Chemicals, Inc.		1,800		399,348
Celanese Corp.		1,900		232,351
Chr Hansen Holding A/S		3,192		271,009
Covestro AG		4,030		199,411
Daicel Corp.		35,000		297,785
Eastman Chemical Co.		8,300		612,789
EMS-Chemie Holding AG		459		286,058
Huntsman Corp.		5,400		125,604
Lotte Chemical Corp.		638		125,317
LyondellBasell Industries NV - Class A		1,900		169,993
Mitsubishi Chemical Holdings Corp.		37,600		269,478
Mitsubishi Gas Chemical Co., Inc.		8,000		107,526
Mitsui Chemicals, Inc.		5,700		128,473
Petronas Chemicals Group Bhd		91,400		164,759
Shikoku Chemicals Corp.		2,000		21,103
Showa Denko KK		3,000		79,070
Sumitomo Seika Chemicals Co., Ltd.		1,300		38,587
Tosoh Corp.		12,400		165,069
Ube Industries, Ltd.		9,100		184,849
Victrex plc		20,590		546,565
Zeon Corp.		19,900		244,103
				4,737,904
Commercial Services & Supplies—0.4%
Brady Corp. - Class A		2,300		122,015
Cintas Corp.		2,100		563,010
Copart, Inc. (c)		5,300		425,749
Dai Nippon Printing Co., Ltd.		9,800		254,711
Deluxe Corp.		9,700		476,852
Ennis, Inc.		3,800		76,798
MSA Safety, Inc.		400		43,644
Republic Services, Inc.		10,173		880,473
Secom Co., Ltd.		7,900		723,180
Societe BIC S.A.		6,774		454,981
Transcontinental, Inc. - Class A		18,900		220,834
Waste Management, Inc.		18,991		2,183,965
				6,426,212

BHFTI-320

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Communications Equipment—0.3%
Cisco Systems, Inc.		82,024	$	4,052,806
F5 Networks, Inc. (c)		2,437		342,203
Ituran Location and Control, Ltd.		6,700		166,093
Motorola Solutions, Inc.		5,563		947,991
Nokia Oyj		55,292		280,206
				5,789,299
Construction & Engineering—0.0%
Larsen & Toubro, Ltd. (GDR)		13,846		287,997
Nichireki Co., Ltd.		2,000		20,496
Obayashi Corp.		19,000		190,179
Taisei Corp.		6,000		233,612
				732,284
Consumer Finance—0.1%
Capital One Financial Corp.		9,300		846,114
Synchrony Financial		23,300		794,297
				1,640,411
Containers & Packaging—0.1%
Packaging Corp. of America (a)		7,500		795,750
Rengo Co., Ltd.		22,000		159,234
Sonoco Products Co.		4,160		242,154
				1,197,138
Distributors—0.0%
Jardine Cycle & Carriage, Ltd.		6,700		145,847
Diversified Consumer Services—0.1%
H&R Block, Inc. (a)		46,100		1,088,882
Diversified Financial Services—0.1%
Berkshire Hathaway, Inc. - Class B (c)		7,187		1,495,040
ORIX Corp.		20,800		311,284
RMB Holdings, Ltd.		19,340		95,961
				1,902,285
Diversified Telecommunication Services—0.8%
AT&T, Inc.		50,791		1,921,931
BCE, Inc.		9,791		473,569
China Telecom Corp., Ltd. - Class H		696,000		318,049
Chunghwa Telecom Co., Ltd. (ADR)		16,790		599,235
Deutsche Telekom AG		48,214		809,394
Elisa Oyj		9,375		483,313
HKT Trust & HKT, Ltd.		161,000		255,980
Nippon Telegraph & Telephone Corp.		56,300		2,692,756
Orange S.A.		28,083		440,801
Proximus SADP		8,117		241,161
Singapore Telecommunications, Ltd.		363,200		817,556
Swisscom AG		2,032		1,002,217
Telekomunikasi Indonesia Persero Tbk PT		636,400		192,244
Telenor ASA		41,577		834,242
Verizon Communications, Inc.		38,958		2,351,505
				13,433,953
Electric Utilities—0.5%
American Electric Power Co., Inc.		4,680		438,469
Chubu Electric Power Co., Inc.		6,500		94,145
CK Infrastructure Holdings, Ltd.		37,500		251,524
CLP Holdings, Ltd.		47,500		497,357
Duke Energy Corp.		8,630		827,272
Enel S.p.A.		98,413		735,331
Exelon Corp.		10,300		497,593
NextEra Energy, Inc.		3,842		895,148
Power Assets Holdings, Ltd.		48,000		322,621
PPL Corp.		7,800		245,622
Red Electrica Corp. S.A.		83,290		1,690,871
Southern Co. (The)		14,015		865,707
Terna Rete Elettrica Nazionale S.p.A.		69,488		446,273
Tokyo Electric Power Co. Holdings, Inc. (c)		14,700		71,969
Xcel Energy, Inc.		11,792		765,183
				8,645,085
Electrical Equipment—0.5%
AMETEK, Inc.		15,100		1,386,482
Emerson Electric Co.		31,100		2,079,346
GrafTech International, Ltd.		16,700		213,760
Hubbell, Inc.		8,500		1,116,900
Legrand S.A.		15,950		1,139,261
Rockwell Automation, Inc.		6,100		1,005,280
Schneider Electric SE		26,948		2,363,352
				9,304,381
Electronic Equipment, Instruments & Components—0.2%
Amphenol Corp. - Class A		9,400		907,100
FLIR Systems, Inc.		11,400		599,526
Hitachi, Ltd.		12,000		449,390
Keyence Corp.		1,300		809,949
				2,765,965
Energy Equipment & Services—0.0%
CARBO Ceramics, Inc. (a) (c)		9,500		22,800
Diamond Offshore Drilling, Inc. (a) (c)		15,800		87,848
Enerflex, Ltd.		10,400		91,216
Liberty Oilfield Services, Inc. - Class A (a)		8,400		90,972
Mammoth Energy Services, Inc.		3,300		8,184
Noble Corp. plc (a) (c)		41,000		52,070
Precision Drilling Corp. (c)		61,000		69,985
ProPetro Holding Corp. (a) (c)		5,300		48,177
TGS Nopec Geophysical Co. ASA		13,090		333,367
				804,619
Entertainment—0.2%
Daiichikosho Co., Ltd.		3,400		157,101
Viacom, Inc. - Class B		16,900		406,107
Walt Disney Co. (The)		16,600		2,163,312
				2,726,520
Equity Real Estate Investment Trusts—0.9%
American Tower Corp.		811		179,336
Apple Hospitality REIT, Inc.		54,100		896,978

BHFTI-321

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
AvalonBay Communities, Inc.		2,567	$	552,752
Camden Property Trust		1,209		134,211
CapitaLand Commercial Trust, Ltd.		137,800		206,222
CapitaLand Mall Trust		132,000		251,304
Crown Castle International Corp.		2,354		327,230
Daiwa House REIT Investment Corp.		96		269,942
Duke Realty Corp.		3,735		126,878
Equity Residential		3,834		330,721
Essex Property Trust, Inc.		2,211		722,223
Extra Space Storage, Inc.		953		111,330
HCP, Inc.		6,468		230,455
Highwoods Properties, Inc.		5,700		256,158
Host Hotels & Resorts, Inc.		53,800		930,202
Japan Prime Realty Investment Corp.		47		223,103
Japan Real Estate Investment Corp.		62		415,755
Japan Retail Fund Investment Corp.		140		296,007
Kimco Realty Corp.		19,500		407,160
Liberty Property Trust		4,216		216,407
Life Storage, Inc.		3,100		326,771
Link REIT		33,500		367,778
LTC Properties, Inc.		2,660		136,245
National Retail Properties, Inc.		7,318		412,735
Nippon Building Fund, Inc.		61		468,437
Nippon Prologis REIT, Inc.		96		262,897
Nomura Real Estate Master Fund, Inc.		189		341,263
Park Hotels & Resorts, Inc.		38,100		951,357
Public Storage		5,393		1,322,741
Realty Income Corp.		2,390		183,265
Regency Centers Corp.		5,600		389,144
RLJ Lodging Trust		7,500		127,425
Simon Property Group, Inc.		8,200		1,276,330
Tanger Factory Outlet Centers, Inc. (a)		10,600		164,088
UDR, Inc.		6,113		296,358
United Urban Investment Corp.		151		289,203
Ventas, Inc.		2,455		179,289
Weingarten Realty Investors		9,000		262,170
Welltower, Inc.		1,720		155,918
WP Carey, Inc.		4,040		361,580
				15,359,368
Food & Staples Retailing—0.1%
Costco Wholesale Corp.		1,237		356,392
Koninklijke Ahold Delhaize NV		14,364		359,322
Sysco Corp.		4,550		361,270
Walmart, Inc.		6,568		779,490
Woolworths Group, Ltd.		17,020		428,810
				2,285,284
Food Products—0.7%
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		48		354,424
Hershey Co. (The)		9,213		1,427,923
Hormel Foods Corp.		12,740		557,120
Ingredion, Inc.		4,600		376,004
Kellogg Co.		6,277		403,925
Kerry Group plc - Class A		3,994		468,797
Food Products—(Continued)
Lamb Weston Holdings, Inc.		17,300		1,258,056
Lancaster Colony Corp.		1,200		166,380
McCormick & Co., Inc.		2,861		447,174
Mitsui Sugar Co., Ltd.		6,000		123,877
Nestle S.A.		49,613		5,381,725
Toyo Suisan Kaisha, Ltd.		7,400		296,554
Want Want China Holdings, Ltd.		372,000		296,195
				11,558,154
Gas Utilities—0.1%
Atmos Energy Corp.		1,100		125,279
GAIL India, Ltd. (GDR)		16,050		178,155
Hong Kong & China Gas Co., Ltd.		304,000		590,451
Italgas S.p.A.		29,971		193,618
Osaka Gas Co., Ltd.		19,900		382,020
Snam S.p.A.		77,219		390,419
Tokyo Gas Co., Ltd.		8,600		217,428
				2,077,370
Health Care Equipment & Supplies—0.6%
Abbott Laboratories		4,500		376,515
Baxter International, Inc.		10,706		936,454
Danaher Corp.		12,759		1,842,782
Hoya Corp.		8,300		677,585
IDEXX Laboratories, Inc. (c)		1,100		299,123
Medtronic plc		27,373		2,973,255
Smith & Nephew plc		46,830		1,128,046
Stryker Corp.		6,400		1,384,320
Varian Medical Systems, Inc. (c)		8,100		964,629
				10,582,709
Health Care Providers & Services—0.2%
Bangkok Dusit Medical Services PCL (NVDR)		370,100		292,837
IHH Healthcare Bhd		108,500		147,215
Quest Diagnostics, Inc.		18,500		1,980,055
UnitedHealth Group, Inc.		6,100		1,325,652
				3,745,759
Health Care Technology—0.0%
Cerner Corp.		3,000		204,510
Hotels, Restaurants & Leisure—0.4%
Choice Hotels International, Inc. (a)		3,100		275,776
Compass Group plc		15,978		411,109
McDonald’s Corp.		14,759		3,168,905
McDonald’s Holdings Co. Japan, Ltd.		6,800		329,009
Oriental Land Co., Ltd.		4,500		684,585
Playtech plc		25,015		131,311
Sands China, Ltd.		107,600		491,283
Starbucks Corp.		22,827		2,018,363
Yum! Brands, Inc.		3,315		376,021
				7,886,362

BHFTI-322

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Durables—0.1%
Barratt Developments plc		15,210	$	121,222
Bellway plc		5,148		211,789
Garmin, Ltd.		14,307		1,211,660
Nikon Corp.		10,600		133,182
NVR, Inc. (c)		60		223,041
Persimmon plc		11,098		296,214
PulteGroup, Inc.		4,000		146,200
Taylor Wimpey plc		128,835		255,824
				2,599,132
Household Products—0.7%
Church & Dwight Co., Inc.		16,599		1,248,909
Clorox Co. (The)		9,822		1,491,667
Colgate-Palmolive Co.		24,632		1,810,698
Kimberly-Clark Corp.		17,997		2,556,474
Procter & Gamble Co. (The)		40,973		5,096,222
Unilever Indonesia Tbk PT		58,000		190,303
				12,394,273
Independent Power and Renewable Electricity Producers—0.0%
TransAlta Renewables, Inc.		18,400		189,298
West Holdings Corp.		8,000		98,730
				288,028
Industrial Conglomerates—0.4%
3M Co. (a)		16,600		2,729,040
Honeywell International, Inc.		9,200		1,556,640
Jardine Matheson Holdings, Ltd.		5,300		284,274
LG Corp.		2,619		153,383
Roper Technologies, Inc.		3,000		1,069,800
Smiths Group plc		39,249		757,391
				6,550,528
Insurance—1.2%
Aegon NV		47,686		198,310
Aflac, Inc.		3,600		188,352
Alleghany Corp. (c)		597		476,263
Allstate Corp. (The)		4,986		541,878
American Equity Investment Life Holding Co.		5,394		130,535
American Financial Group, Inc.		10,400		1,121,640
American National Insurance Co.		1,312		162,334
Aon plc		1,833		354,814
Arch Capital Group, Ltd. (c)		16,184		679,404
ASR Nederland NV		19,915		735,906
Assicurazioni Generali S.p.A.		22,694		440,102
Athene Holding, Ltd. - Class A (c)		21,200		891,672
Aviva plc		243,361		1,193,466
Chubb, Ltd.		3,813		615,571
Cincinnati Financial Corp.		1,777		207,323
Direct Line Insurance Group plc		84,528		311,786
Everest Re Group, Ltd.		1,195		317,978
Globe Life, Inc.		2,900		277,704
Intact Financial Corp.		6,440		648,156
Japan Post Holdings Co., Ltd.		66,600		615,052
Legal & General Group plc		288,774		881,727
Insurance—(Continued)
Lincoln National Corp.		27,200		1,640,704
Manulife Financial Corp.		79,100		1,450,828
Markel Corp. (a) (c)		471		556,675
Marsh & McLennan Cos., Inc.		6,751		675,438
National Western Life Group, Inc. - Class A		300		80,511
NN Group NV		22,257		790,146
Principal Financial Group, Inc.		22,365		1,277,936
Progressive Corp. (The)		4,025		310,931
Prudential Financial, Inc.		7,400		665,630
RenaissanceRe Holdings, Ltd.		1,061		205,250
Swiss Re AG		9,891		1,032,219
Travelers Cos., Inc. (The)		3,273		486,662
Unum Group		19,600		582,512
W.R. Berkley Corp		7,502		541,869
Zurich Insurance Group AG		1,644		629,085
				21,916,369
Interactive Media & Services—0.7%
Alphabet, Inc. - Class A (c)		3,400		4,151,876
Alphabet, Inc. - Class C (c)		3,860		4,705,340
Auto Trader Group plc		98,943		620,335
Facebook, Inc. - Class A (c)		17,600		3,134,208
Rightmove plc		62,695		424,360
				13,036,119
Internet & Direct Marketing Retail—0.4%
Amazon.com, Inc. (c)		3,225		5,598,310
Booking Holdings, Inc. (c)		100		196,261
eBay, Inc.		33,100		1,290,238
				7,084,809
IT Services—1.5%
Accenture plc - Class A		2,000		384,700
Amdocs, Ltd.		23,003		1,520,728
Automatic Data Processing, Inc.		11,688		1,886,677
Broadridge Financial Solutions, Inc.		9,775		1,216,303
CGI, Inc. (c)		7,800		616,770
Cognizant Technology Solutions Corp. - Class A		27,200		1,639,208
Computershare, Ltd.		44,205		484,840
DXC Technology Co.		7,000		206,500
Fidelity National Information Services, Inc.		8,916		1,183,688
Fiserv, Inc. (c)		18,173		1,882,541
Global Payments, Inc.		1,372		218,148
Infosys, Ltd. (ADR) (a)		80,644		916,922
International Business Machines Corp.		24,767		3,601,617
Jack Henry & Associates, Inc.		3,563		520,091
MasterCard, Inc. - Class A		7,412		2,012,877
Nomura Research Institute, Ltd.		32,400		646,927
NTT Data Corp.		21,000		272,394
Paychex, Inc. (a)		21,589		1,786,922
PayPal Holdings, Inc. (c)		15,400		1,595,286
Visa, Inc. - Class A (a)		25,739		4,427,365
Wipro, Ltd. (ADR)		85,983		313,838
				27,334,342

BHFTI-323

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Leisure Products—0.0%
Mizuno Corp.		1,100	$	28,613
Life Sciences Tools & Services—0.2%
Mettler-Toledo International, Inc. (c)		700		493,080
Thermo Fisher Scientific, Inc.		5,300		1,543,731
Waters Corp. (c)		4,200		937,566
				2,974,377
Machinery—0.7%
Allison Transmission Holdings, Inc.		26,880		1,264,704
Atlas Copco AB - A Shares		24,622		758,002
Caterpillar, Inc.		2,100		265,251
Cummins, Inc.		6,100		992,287
Donaldson Co., Inc. (a)		8,700		453,096
Dover Corp.		4,500		448,020
Epiroc AB - Class A		20,123		218,468
Fortive Corp.		13,400		918,704
Graco, Inc.		8,400		386,736
Hirano Tecseed Co., Ltd.		5,700		68,271
Hosokawa Micron Corp.		1,900		66,161
IDEX Corp.		3,629		594,721
Illinois Tool Works, Inc.		8,800		1,377,112
IMI plc		26,630		314,663
Kyokuto Kaihatsu Kogyo Co., Ltd.		6,000		72,473
Lincoln Electric Holdings, Inc.		6,500		563,940
Parker-Hannifin Corp.		3,600		650,196
Schindler Holding AG (Participation Certificate)		1,140		255,139
SKF AB - B Shares		11,122		184,055
Snap-on, Inc.		4,400		688,776
Spirax-Sarco Engineering plc		1,241		119,701
Sumitomo Heavy Industries, Ltd.		3,600		107,444
Tocalo Co., Ltd.		17,700		147,382
Toro Co. (The)		1,485		108,850
Volvo AB - B Shares		17,829		250,391
Zardoya Otis S.A.		68,050		461,921
				11,736,464
Marine—0.0%
Kuehne & Nagel International AG		2,771		408,412
Media—0.3%
AMC Networks, Inc. - Class A (a) (c)		6,900		339,204
CBS Corp. - Class B		8,900		359,293
Comcast Corp. - Class A		29,434		1,326,885
Discovery, Inc. - Class A (a) (c)		10,200		271,626
Fox Corp. - Class A		22,200		700,077
Fuji Media Holdings, Inc.		9,100		117,696
ITV plc		156,297		241,421
Mediaset Espana Comunicacion S.A.		31,263		201,476
Metropole Television S.A.		16,471		270,287
Omnicom Group, Inc.		5,700		446,310
ProSiebenSat.1 Media SE		17,564		241,763
Publicis Groupe S.A.		23,801		1,170,180
RTL Group S.A.		5,041		242,631
SKY Network Television, Ltd.		27,790		19,491
Media—(Continued)
SKY Perfect JSAT Holdings, Inc.		17,600		71,461
Tokyo Broadcasting System Holdings, Inc.		4,500		73,292
				6,093,093
Metals & Mining—1.0%
Agnico Eagle Mines, Ltd.		20,560		1,101,830
Alamos Gold, Inc. - Class A		19,134		111,206
Anglo American plc		31,608		728,168
AngloGold Ashanti, Ltd.		20,356		374,157
Argonaut Gold, Inc. (c)		45,200		71,646
B2Gold Corp. (c)		48,432		157,559
Barrick Gold Corp.		122,158		2,113,342
BHP Group plc		31,171		666,651
BHP Group, Ltd.		43,271		1,071,283
Centamin plc		53,258		82,456
Centerra Gold, Inc. (c)		56,475		479,985
Coeur Mining, Inc. (c)		10,720		51,563
Detour Gold Corp. (c)		8,657		127,093
Eldorado Gold Corp. (c)		15,782		122,220
Endeavour Mining Corp. (c)		3,685		70,426
Evolution Mining, Ltd.		51,922		157,626
Ferrexpo plc		23,500		46,622
Fortescue Metals Group, Ltd.		45,339		271,917
Franco-Nevada Corp.		7,094		646,403
Gold Fields, Ltd.		40,053		198,633
Harmony Gold Mining Co., Ltd. (c)		22,497		63,594
IAMGOLD Corp. (c)		22,809		77,818
Kinross Gold Corp. (c)		60,802		279,950
Kirkland Lake Gold, Ltd.		9,125		408,777
Leagold Mining Corp. (c)		11,182		21,607
New Gold, Inc. (c)		28,115		28,224
Newcrest Mining, Ltd.		37,766		880,494
Newmont Goldcorp Corp.		63,691		2,415,163
Northern Star Resources, Ltd.		30,523		225,420
OceanaGold Corp.		30,535		79,746
Perseus Mining, Ltd. (c)		275,211		129,143
Petropavlovsk plc (c)		142,850		16,984
Polymetal International plc		25,007		350,738
Polyus PJSC (GDR)		3,170		183,067
Pretium Resources, Inc. (c)		8,466		97,578
Regis Resources, Ltd.		23,079		75,737
Resolute Mining, Ltd. (c)		41,778		39,628
Rio Tinto plc		22,196		1,152,905
Rio Tinto, Ltd.		15,744		990,190
Saracen Mineral Holdings, Ltd. (c)		37,672		86,972
SEMAFO, Inc. (c)		16,411		52,645
SSR Mining, Inc. (c)		5,974		86,622
St. Barbara, Ltd.		34,171		66,366
Sumitomo Metal Mining Co., Ltd.		6,700		208,955
Teck Resources, Ltd. - Class B		13,817		224,017
Torex Gold Resources, Inc. (c)		4,181		51,819
Yamana Gold, Inc.		46,595		147,714
Zhaojin Mining Industry Co., Ltd. - Class H		50,000		57,445
				17,150,104

BHFTI-324

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Mortgage Real Estate Investment Trusts—0.0%
AGNC Investment Corp.		20,828	$	335,123
Annaly Capital Management, Inc. (a)		48,474		426,571
				761,694
Multi-Utilities—0.1%
Centrica plc		148,870		134,972
Consolidated Edison, Inc.		11,500		1,086,405
Dominion Energy, Inc.		7,354		595,968
WEC Energy Group, Inc.		8,440		802,644
				2,619,989
Multiline Retail—0.1%
Dollar General Corp.		2,902		461,244
Dollarama, Inc.		10,200		365,163
Kohl’s Corp.		3,200		158,912
Lifestyle International Holdings, Ltd.		136,500		142,586
Next plc		7,566		575,488
Pan Pacific International Holdings Corp.		29,300		489,224
				2,192,617
Oil, Gas & Consumable Fuels—1.2%
Antero Resources Corp. (c)		6,800		20,536
Beach Energy, Ltd.		100,606		173,080
Bonavista Energy Corp.		63,100		29,053
BP plc		62,657		396,155
Cabot Oil & Gas Corp.		10,400		182,728
Callon Petroleum Co. (a) (c)		10,200		44,268
Chevron Corp.		18,681		2,215,567
ConocoPhillips		3,000		170,940
DNO ASA		151,919		217,989
Eni S.p.A.		76,395		1,166,758
Equinor ASA		59,780		1,133,950
Exxon Mobil Corp.		28,908		2,041,194
Galp Energia SGPS S.A.		51,358		772,507
Gaztransport Et Technigaz S.A.		1,829		181,261
Gulfport Energy Corp. (a) (c)		11,800		31,978
HollyFrontier Corp.		2,000		107,280
Husky Energy, Inc.		13,900		97,783
Imperial Oil, Ltd.		8,100		210,930
Inpex Corp.		81,100		739,797
Japan Petroleum Exploration Co., Ltd.		8,600		217,008
JXTG Holdings, Inc.		14,900		67,584
Lukoil PJSC (ADR)		3,155		261,013
OMV AG		15,271		818,118
Parex Resources, Inc. (c)		9,700		148,628
PTT Exploration & Production PCL (NVDR)		35,400		140,499
Reliance Industries, Ltd. (GDR) (144A) (d)		5,288		197,242
Repsol S.A.		59,179		923,087
Royal Dutch Shell plc - A Shares		87,523		2,558,316
Royal Dutch Shell plc - B Shares		58,389		1,715,296
Suncor Energy, Inc.		25,200		794,889
Surge Energy, Inc. (a)		44,300		37,785
Tatneft PJSC (ADR)		2,296		146,600
Tethys Oil AB		14,217		112,823
Oil, Gas & Consumable Fuels—(Continued)
Total Gabon		33		4,959
Total S.A.		46,651		2,428,647
Tullow Oil plc		55,852		146,325
Whiting Petroleum Corp. (a) (c)		5,649		45,362
Woodside Petroleum, Ltd.		6,129		134,537
				20,832,472
Paper & Forest Products—0.1%
Mondi plc		38,585		738,845
OJI Holdings Corp.		79,200		371,728
				1,110,573
Personal Products—0.4%
Beiersdorf AG		1,403		165,539
Estee Lauder Cos., Inc. (The) - Class A		4,400		875,380
Hengan International Group Co., Ltd.		34,000		222,022
L’Oreal S.A.		4,545		1,273,547
Unilever NV		30,698		1,844,584
Unilever plc		32,739		1,968,544
USANA Health Sciences, Inc. (c)		3,200		218,848
				6,568,464
Pharmaceuticals—2.4%
Astellas Pharma, Inc.		176,200		2,518,174
Bristol-Myers Squibb Co.		46,300		2,347,873
Dr Reddy’s Laboratories, Ltd. (ADR)		5,869		222,376
Eli Lilly & Co.		22,817		2,551,625
GlaxoSmithKline plc		162,872		3,486,371
Innoviva, Inc. (a) (c)		6,200		65,348
Jazz Pharmaceuticals plc (c)		2,300		294,722
Johnson & Johnson		50,979		6,595,663
Merck & Co., Inc.		56,956		4,794,556
Mylan NV (c)		38,400		759,552
Novartis AG		43,637		3,788,359
Novo Nordisk A/S - Class B		38,566		1,991,357
Otsuka Holdings Co., Ltd.		7,100		265,571
Pfizer, Inc.		121,626		4,370,022
Recordati S.p.A.		18,856		809,365
Roche Holding AG		16,096		4,693,998
Sanofi		27,284		2,530,005
SIGA Technologies, Inc. (a) (c)		13,100		67,072
				42,152,009
Professional Services—0.3%
Adecco Group AG		3,289		181,924
Bureau Veritas S.A.		23,249		560,611
Experian plc		6,589		210,509
Intertek Group plc		15,506		1,044,065
RELX plc		70,061		1,662,241
Robert Half International, Inc.		3,700		205,942
Wolters Kluwer NV		16,134		1,178,374
				5,043,666

BHFTI-325

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Real Estate Management & Development—0.2%
CK Asset Holdings, Ltd.		147,000	$	1,001,007
Daiwa House Industry Co., Ltd.		20,900		680,977
Hang Lung Group, Ltd.		45,000		112,403
Kerry Properties, Ltd.		80,500		249,129
Newmark Group, Inc. - Class A		14,000		126,840
Sun Hung Kai Properties, Ltd.		34,000		491,538
Swiss Prime Site AG (c)		2,949		288,756
Wharf Real Estate Investment Co., Ltd.		52,000		285,082
Wheelock & Co., Ltd.		44,000		250,793
				3,486,525
Road & Rail—0.5%
BTS Group Holdings PCL (NVDR)		695,800		304,846
Canadian National Railway Co.		19,600		1,759,909
Central Japan Railway Co.		9,300		1,919,571
Landstar System, Inc.		8,200		923,156
MTR Corp., Ltd.		83,500		466,352
Nagoya Railroad Co., Ltd.		8,800		263,808
Norfolk Southern Corp.		6,500		1,167,790
Seino Holdings Co., Ltd.		14,800		185,215
Tobu Railway Co., Ltd.		10,200		331,653
Union Pacific Corp.		7,800		1,263,444
				8,585,744
Semiconductors & Semiconductor Equipment—0.5%
Analog Devices, Inc.		3,400		379,882
Broadcom, Inc.		1,800		496,926
Dialog Semiconductor plc (c)		2,326		110,197
Globalwafers Co., Ltd.		22,000		224,109
Intel Corp.		76,100		3,921,433
Maxim Integrated Products, Inc.		12,800		741,248
Micron Technology, Inc. (c)		14,200		608,470
ON Semiconductor Corp. (c)		8,500		163,285
Siltronic AG		2,161		164,434
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		12,000		557,760
Texas Instruments, Inc.		7,200		930,528
United Microelectronics Corp.		287,000		124,345
Xilinx, Inc.		6,900		661,710
				9,084,327
Software—1.4%
Adobe, Inc. (c)		1,300		359,125
ANSYS, Inc. (c)		2,900		641,944
CDK Global, Inc.		3,700		177,933
Check Point Software Technologies, Ltd. (c)		11,800		1,292,100
Citrix Systems, Inc.		7,700		743,204
Dassault Systemes SE		3,981		567,123
Fair Isaac Corp. (c)		900		273,168
Intuit, Inc.		4,300		1,143,542
Micro Focus International plc		18,978		267,749
Microsoft Corp.		83,000		11,539,490
Open Text Corp.		8,800		358,948
Oracle Corp.		39,100		2,151,673
Software—(Continued)
Oracle Corp. Japan		8,900		775,890
Sage Group plc (The)		121,290		1,031,885
SAP SE		16,765		1,970,968
Software AG		4,479		123,074
Trend Micro, Inc.		3,100		148,114
VMware, Inc. - Class A		3,400		510,204
				24,076,134
Specialty Retail—0.6%
ABC-Mart, Inc.		8,500		540,418
AutoZone, Inc. (c)		981		1,064,012
Best Buy Co., Inc.		3,300		227,667
Buckle, Inc. (The) (a)		15,305		315,283
Cato Corp. (The) - Class A		6,100		107,421
Gap, Inc. (The)		11,600		201,376
Home Depot, Inc. (The)		14,481		3,359,882
Industria de Diseno Textil S.A.		21,950		679,929
Nitori Holdings Co., Ltd.		2,100		307,244
O’Reilly Automotive, Inc. (c)		1,500		597,765
Ross Stores, Inc.		10,003		1,098,830
Tiffany & Co. (a)		4,900		453,887
TJX Cos., Inc. (The)		34,048		1,897,835
Truworths International, Ltd.		25,029		87,653
USS Co., Ltd.		21,700		423,237
				11,362,439
Technology Hardware, Storage & Peripherals—0.7%
Apple, Inc.		42,600		9,541,122
Brother Industries, Ltd.		8,300		151,481
Canon, Inc.		20,300		541,917
Catcher Technology Co., Ltd.		32,000		242,389
HP, Inc.		21,900		414,348
NEC Corp.		12,800		542,434
Samsung Electronics Co., Ltd.		13,504		550,962
Xerox Holdings Corp. (c)		26,400		789,624
				12,774,277
Textiles, Apparel & Luxury Goods—0.3%
Burberry Group plc		18,523		495,439
Capri Holdings, Ltd. (c)		5,500		182,380
Carter’s, Inc. (a)		2,100		191,541
Gildan Activewear, Inc.		4,700		166,807
Hermes International		1,264		874,269
LVMH Moet Hennessy Louis Vuitton SE (a)		3,886		1,546,898
Moncler S.p.A.		11,173		398,540
NIKE, Inc. - Class B		17,300		1,624,816
Tapestry, Inc.		5,500		143,275
VF Corp.		5,300		471,647
				6,095,612
Thrifts & Mortgage Finance—0.0%
Genworth MI Canada, Inc. (a)		13,207		524,352

BHFTI-326

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Tobacco—0.2%
Altria Group, Inc.		21,700	$	887,530
Philip Morris International, Inc.		21,200		1,609,716
Swedish Match AB		6,137		253,873
				2,751,119
Trading Companies & Distributors—0.2%
Fastenal Co.		35,100		1,146,717
ITOCHU Corp.		32,300		669,566
Kanamoto Co., Ltd.		2,400		59,921
Mitsubishi Corp.		12,900		317,657
Mitsui & Co., Ltd.		12,700		208,675
MSC Industrial Direct Co., Inc. - Class A		7,000		507,710
Nishio Rent All Co., Ltd.		3,900		100,687
Sumitomo Corp.		28,700		450,224
Wakita & Co., Ltd.		17,200		170,025
				3,631,182
Transportation Infrastructure—0.1%
Aena SME S.A.		3,273		599,847
Airports of Thailand PCL (NVDR)		185,100		452,386
Grupo Aeroportuario del Pacifico S.A.B. de C.V. (ADR)		1,700		164,084
Westshore Terminals Investment Corp.		12,900		199,121
				1,415,438
Water Utilities—0.0%
Guangdong Investment, Ltd.		152,000		298,095
Wireless Telecommunication Services—0.3%
China Mobile, Ltd.		72,000		597,546
KDDI Corp.		70,600		1,845,493
Mobile TeleSystems PJSC (ADR)		28,700		232,470
NTT DoCoMo, Inc.		117,400		2,997,765
Vodacom Group, Ltd.		53,030		419,083
				6,092,357
Total Common Stocks (Cost $495,940,300)				503,018,338
Mutual Funds—16.6%
Investment Company Securities—16.6%
iShares Core S&P 500 ETF (a)		742,076		221,524,528
iShares MSCI Chile ETF (a)		5,360		200,678
iShares MSCI Taiwan ETF (a)		60,029		2,182,655
SPDR Bloomberg Barclays High Yield Bond ETF (a)		654,392		71,158,586
Total Mutual Funds (Cost $277,132,368)				295,066,447
Mortgage-Backed Securities—0.8%
Security Description	Shares/ Principal Amount*		Value
Collateralized Mortgage Obligations—0.8%
Flagstar Mortgage Trust 3.500%, 10/25/47 (144A) (b)		2,335,046		2,372,899
JPMorgan Mortgage Trust
3.000%, 05/25/47 (144A) (b)		3,260,038		3,272,981
3.500%, 08/25/47 (144A) (b)		3,877,811		3,921,285
3.500%, 11/25/48 (144A) (b)		4,422,271		4,471,849
Total Mortgage-Backed Securities (Cost $14,046,866)				14,039,014
Asset-Backed Securities—0.3%
Asset-Backed - Other—0.3%
Towd Point Mortgage Trust
2.750%, 10/25/56 (144A) (b)		885,619		893,687
2.750%, 10/25/57 (144A) (b)		3,885,443		3,922,358
Total Asset-Backed Securities (Cost $4,787,254)				4,816,045
U.S. Treasury & Government Agencies—0.1%
U.S. Treasury—0.1%
U.S. Treasury Note 2.625%, 02/15/29 (Cost $2,080,700)		2,100,000		2,273,414
Preferred Stock—0.0%
Automobiles—0.0%
Porsche Automobil Holding SE (Cost $509,399)		7,981		519,214
Short-Term Investments—19.2%
Repurchase Agreement—3.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $68,919,866; collateralized by U.S. Treasury Notes at 2.375%, maturing 03/15/22, with a market value of $70,300,604.		68,918,335		68,918,335
U.S. Treasury—15.3%
U.S. Treasury Bills
2.005%, 12/05/19 (a) (e)		69,600,000		69,376,156
2.036%, 01/09/20 (e)		84,703,000		84,278,838
2.134%, 12/12/19 (a) (e)		60,176,000		59,961,623
2.336%, 11/21/19 (e)		59,480,000		59,328,536
				272,945,153
Total Short-Term Investments (Cost $341,698,295)				341,863,488

BHFTI-327

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (f)—7.5%

Security Description	Principal Amount*		Value
Certificates of Deposit—0.7%
Bank of Montreal (Chicago) 1.990%, SOFR + 0.170%, 02/07/20 (b)		1,000,000	$	1,000,211
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (b)		2,000,000		2,000,370
Chiba Bank, Ltd. 2.250%, 10/17/19		1,000,000		1,000,052
Credit Industriel et Commercial 2.260%, 1M LIBOR + 0.160%, 01/03/20 (b)		1,000,000		999,874
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (b)		2,000,000		1,999,794
Nationwide Building Society Zero Coupon, 10/09/19		1,996,323		1,998,940
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (b)		3,000,000		3,000,699
				11,999,940
Commercial Paper—0.1%
Bank of China, Ltd. 2.470%, 10/11/19		994,099		999,289
Repurchase Agreements—6.1%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $1,106,381; collateralized by various Common Stock with an aggregate market value of $1,210,000.		1,100,000		1,100,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $1,006,210; collateralized by various Common Stock with an aggregate market value of $1,100,113.		1,000,000		1,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $4,008,439; collateralized by various Common Stock with an aggregate market value of $4,400,000.		4,000,000		4,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $4,800,320; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $4,896,003.		4,800,000		4,800,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $4,400,293; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $4,488,001.		4,400,000		4,400,000
Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $7,345,081; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $7,491,608.		7,344,714		7,344,714
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $7,400,409; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $8,236,215.		7,400,000		7,400,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $20,007,856; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $22,228,150.		20,000,000		20,000,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $25,001,632; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $25,500,000.		25,000,000		25,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $5,000,274; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $5,000,275; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $3,501,361; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,888,717.		3,500,000		3,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $3,501,361; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,888,717.		3,500,000		3,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $9,403,656; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $10,443,982.		9,400,000		9,400,000

BHFTI-328

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (f) — (Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000	$	2,000,000
				108,444,714
Time Deposits—0.5%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		5,000,000		5,000,000
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
				10,000,000
Mutual Fund—0.1%
SSGA Institutional U.S. Government Money Market Fund 2.050% (g)		1,000,000		1,000,000
Total Securities Lending Reinvestments (Cost $132,443,048)				132,443,943
Total Investments—105.2% (Cost $1,818,851,585)				1,870,299,517
Other assets and liabilities (net)—(5.2)%				(92,621,809	)
Net Assets—100.0%			$	1,777,677,708

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $130,107,998 and the collateral received consisted of cash in the amount of $132,435,137 and non-cash collateral with a value of $295,687. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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)	Non-income producing security.
(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 September 30, 2019, the market value of restricted securities was $197,242, which is 0.0% of net assets. See details shown in the Restricted Securities table that follows
(e)	The rate shown represents current yield to maturity.
(f)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(g)	The rate shown represents the annualized seven-day yield as of September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $90,301,045, which is 5.1% of net assets.

Restricted Securities	Acquisition Date		Shares		Cost		Value
Reliance Industries, Ltd. (GDR)		08/30/19		5,288	$	183,828	$	197,242

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	21,065,000	JPMC		10/25/19		USD	14,336,062	$	(106,671	)
BRL	14,473,000	GSI		10/02/19		USD	3,475,411		7,905
BRL	14,473,000	UBSA		10/02/19		USD	3,563,067		(79,752	)
BRL	34,465,000	UBSA		10/02/19		USD	8,268,319		26,606
BRL	34,465,000	UBSA		10/02/19		USD	8,276,102		18,823
BRL	14,473,000	GSI		11/04/19		USD	3,450,471		24,815
BRL	6,572,000	UBSA		11/04/19		USD	1,574,132		3,950
CHF	15,592,000	JPMC		10/25/19		USD	15,767,985		(114,334	)
DKK	23,011,000	JPMC		10/25/19		USD	3,416,131		(50,714	)
EUR	11,410,000	JPMC		10/25/19		USD	12,637,932		(180,036	)
GBP	22,277,161	JPMC		10/25/19		USD	27,920,104		(503,534	)
IDR	72,599,433,000	MSIP		10/25/19		USD	5,151,819		(49,772	)
INR	114,167,000	UBSA		10/25/19		USD	1,601,220		5,989
INR	255,757,000	UBSA		10/25/19		USD	3,588,263		12,209
JPY	3,990,228,344	GSI		10/25/19		USD	37,042,605		(83,463	)
KRW	20,903,333,000	MSIP		10/25/19		USD	17,584,297		(98,231	)

BHFTI-329

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
MXN	31,031,000	GSI		10/25/19		USD	1,589,715	$	(23,259	)
MXN	70,037,000	UBSA		10/25/19		USD	3,584,705		(49,212	)
NOK	159,499,000	UBSA		10/25/19		USD	17,786,849		(247,639	)
NOK	159,540,000	UBSA		10/25/19		USD	17,824,615		(280,896	)
PHP	257,575,000	MSIP		10/25/19		USD	4,969,612		(3,412	)
PHP	924,479,000	MSIP		10/25/19		USD	17,634,316		190,191
PHP	926,660,000	UBSA		10/25/19		USD	17,851,281		15,277
RUB	233,449,000	MSIP		10/25/19		USD	3,648,205		(58,950	)
RUB	102,825,000	UBSA		10/25/19		USD	1,606,139		(25,215	)
SEK	47,653,000	JPMC		10/25/19		USD	4,929,547		(81,477	)
ZAR	23,452,000	JPMC		10/25/19		USD	1,576,459		(32,603	)
ZAR	52,589,000	JPMC		10/25/19		USD	3,545,129		(83,170	)
Contracts to Deliver
BRL	14,473,000	GSI		10/02/19		USD	3,456,982		(26,333	)
BRL	34,465,000	UBSA		10/02/19		USD	8,320,859		25,934
BRL	34,465,000	UBSA		10/02/19		USD	8,276,102		(18,823	)
BRL	14,473,000	UBSA		10/02/19		USD	3,475,411		(7,905	)
CAD	33,049,000	UBSA		10/25/19		USD	24,926,707		(28,577	)
CHF	5,130,000	JPMC		10/25/19		USD	5,190,639		40,354
COP	17,499,849,000	MSIP		10/25/19		USD	5,044,638		20,879
GBP	2,169,800	JPMC		10/30/19		USD	2,676,993		6,075
GBP	998,100	MSIP		10/30/19		USD	1,244,734		16,122
HUF	1,547,754,000	UBSA		10/25/19		USD	5,151,758		107,179
ILS	18,151,000	MSIP		10/25/19		USD	5,169,255		(58,228	)
JPY	557,818,000	JPMC		10/25/19		USD	5,181,268		14,527
SEK	50,006,000	JPMC		10/25/19		USD	5,174,894		87,438
TWD	545,707,000	MSIP		10/25/19		USD	17,697,649		85,533
TWD	548,120,000	UBSA		10/25/19		USD	17,688,137		(1,855	)
TWD	159,359,000	UBSA		10/25/19		USD	5,181,564		38,421
Cross Currency Contracts to Buy
NOK	161,473,000	JPMC		10/25/19		EUR	16,235,765		29,420
Net Unrealized Depreciation								$	(1,516,414	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro STOXX 50 Index Futures		12/20/19		2,373			EUR	84,360,150		$	1,199,676
FTSE 100 Index Futures		12/20/19		220			GBP	16,243,700			184,649
NASDAQ 100 Index E-Mini Futures		12/20/19		115			USD	17,872,150			(394,492	)
Nikkei 225 Index Futures		12/12/19		235			JPY	5,113,600,000			1,197,311
S&P 500 Index E-Mini Futures		12/20/19		667			USD	99,332,975			(1,145,763	)
S&P TSX 60 Index Futures		12/19/19		114			CAD	22,711,080			59,901
SPI 200 Index Futures		12/19/19		278			AUD	46,439,900			126,223
U.S. Treasury Long Bond Futures		12/19/19		549			USD	89,109,563			(951,539	)
U.S. Treasury Note 2 Year Futures		12/31/19		247			USD	53,228,500			(153,817	)
U.S. Treasury Note 5 Year Futures		12/31/19		229			USD	27,284,992			(57,153	)
U.S. Treasury Ultra Long Bond Futures		12/19/19		146			USD	28,018,313			(1,085,897	)
Futures Contracts—Short
U.S. Treasury Note 10 Year Futures		12/19/19		(835	)		USD	(108,810,938	)		651,286
U.S. Treasury Note 2 Year Futures		12/31/19		(74	)		USD	(15,947,000	)		(9,366	)
Net Unrealized Depreciation										$	(378,981	)

BHFTI-330

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (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 (1)

Pay

3M LIBOR

Quarterly

1.755

%

Quarterly

07/23/29

USD

534,000,000

$

9,418,852

$

—

$

9,418,852

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

Glossary of Abbreviations

Counterparties

(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.
(MSIP)—	Morgan Stanley & Co. International plc
(UBSA)—	UBS AG

Currencies

(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(COP)—	Colombian Peso
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(HUF)—	Hungarian Forint
(IDR)—	Indonesian Rupiah
(ILS)—	Israeli Shekel
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(PHP)—	Philippine Peso
(RUB)—	Russian Ruble
(SEK)—	Swedish Krona
(TWD)—	Taiwanese Dollar
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index

Other Abbreviations

(ADR)—	American Depositary Receipt
(ETF)—	Exchange-Traded Fund
(GDR)—	Global Depositary Receipt
(NVDR)—	Non-Voting Depository Receipts
(REIT)—	Real Estate Investment Trust

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Total Corporate Bonds & Notes*	$	—	$	576,259,614	$	—	$	576,259,614
Common Stocks
Aerospace & Defense		948,271		—		—		948,271
Air Freight & Logistics		2,074,634		84,138		—		2,158,772
Airlines		213,120		558,892		—		772,012
Auto Components		2,295,432		3,666,319		—		5,961,751
Automobiles		216,124		2,211,808		—		2,427,932
Banks		18,942,714		19,787,413		—		38,730,127

BHFTI-331

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Beverages	$	8,919,404	$	2,809,978	$	—	$	11,729,382
Biotechnology		8,511,947		—		—		8,511,947
Building Products		1,167,699		1,898,478		—		3,066,177
Capital Markets		10,183,014		2,434,904		—		12,617,918
Chemicals		1,540,085		3,197,819		—		4,737,904
Commercial Services & Supplies		4,993,340		1,432,872		—		6,426,212
Communications Equipment		5,509,093		280,206		—		5,789,299
Construction & Engineering		287,997		444,287		—		732,284
Consumer Finance		1,640,411		—		—		1,640,411
Containers & Packaging		1,037,904		159,234		—		1,197,138
Distributors		—		145,847		—		145,847
Diversified Consumer Services		1,088,882		—		—		1,088,882
Diversified Financial Services		1,495,040		407,245		—		1,902,285
Diversified Telecommunication Services		5,346,240		8,087,713		—		13,433,953
Electric Utilities		4,534,994		4,110,091		—		8,645,085
Electrical Equipment		5,801,768		3,502,613		—		9,304,381
Electronic Equipment, Instruments & Components		1,506,626		1,259,339		—		2,765,965
Energy Equipment & Services		471,252		333,367		—		804,619
Entertainment		2,569,419		157,101		—		2,726,520
Equity Real Estate Investment Trusts		11,967,457		3,391,911		—		15,359,368
Food & Staples Retailing		1,497,152		788,132		—		2,285,284
Food Products		4,636,582		6,921,572		—		11,558,154
Gas Utilities		303,434		1,773,936		—		2,077,370
Health Care Equipment & Supplies		8,777,078		1,805,631		—		10,582,709
Health Care Providers & Services		3,305,707		440,052		—		3,745,759
Health Care Technology		204,510		—		—		204,510
Hotels, Restaurants & Leisure		5,839,065		2,047,297		—		7,886,362
Household Durables		1,580,901		1,018,231		—		2,599,132
Household Products		12,203,970		190,303		—		12,394,273
Independent Power and Renewable Electricity Producers		189,298		98,730		—		288,028
Industrial Conglomerates		5,355,480		1,195,048		—		6,550,528
Insurance		15,088,570		6,827,799		—		21,916,369
Interactive Media & Services		11,991,424		1,044,695		—		13,036,119
Internet & Direct Marketing Retail		7,084,809		—		—		7,084,809
IT Services		25,930,181		1,404,161		—		27,334,342
Leisure Products		—		28,613		—		28,613
Life Sciences Tools & Services		2,974,377		—		—		2,974,377
Machinery		8,962,784		2,773,680		—		11,736,464
Marine		—		408,412		—		408,412
Media		3,443,395		2,649,698		—		6,093,093
Metals & Mining		9,208,020		7,942,084		—		17,150,104
Mortgage Real Estate Investment Trusts		761,694		—		—		761,694
Multi-Utilities		2,485,017		134,972		—		2,619,989
Multiline Retail		985,319		1,207,298		—		2,192,617
Oil, Gas & Consumable Fuels		6,783,776		14,048,696		—		20,832,472
Paper & Forest Products		—		1,110,573		—		1,110,573
Personal Products		1,094,228		5,474,236		—		6,568,464
Pharmaceuticals		22,068,809		20,083,200		—		42,152,009
Professional Services		205,942		4,837,724		—		5,043,666
Real Estate Management & Development		126,840		3,359,685		—		3,486,525
Road & Rail		5,114,299		3,471,445		—		8,585,744
Semiconductors & Semiconductor Equipment		8,461,242		623,085		—		9,084,327
Software		19,191,331		4,884,803		—		24,076,134
Specialty Retail		9,323,958		2,038,481		—		11,362,439
Technology Hardware, Storage & Peripherals		10,745,094		2,029,183		—		12,774,277
Textiles, Apparel & Luxury Goods		2,780,466		3,315,146		—		6,095,612
Thrifts & Mortgage Finance		524,352		—		—		524,352
Tobacco		2,497,246		253,873		—		2,751,119

BHFTI-332

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Trading Companies & Distributors	$	1,654,427		$	1,976,755		$	—	$	3,631,182
Transportation Infrastructure		363,205			1,052,233			—		1,415,438
Water Utilities		—			298,095			—		298,095
Wireless Telecommunication Services		232,470			5,859,887			—		6,092,357
Total Common Stocks		327,239,319			175,779,019			—		503,018,338
Total Mutual Funds*		295,066,447			—			—		295,066,447
Total Mortgage-Backed Securities*		—			14,039,014			—		14,039,014
Total Asset-Backed Securities*		—			4,816,045			—		4,816,045
Total U.S. Treasury & Government Agencies*		—			2,273,414			—		2,273,414
Total Preferred Stock*		—			519,214			—		519,214
Total Short-Term Investments*		—			341,863,488			—		341,863,488
Total Securities Lending Reinvestments*		—			132,443,943			—		132,443,943
Total Investments	$	622,305,766		$	1,247,993,751		$	—	$	1,870,299,517
Collateral for Securities Loaned (Liability)	$	—		$	(132,435,137	)	$	—	$	(132,435,137	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	777,647		$	—	$	777,647
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(2,294,061	)		—		(2,294,061	)
Total Forward Contracts	$	—		$	(1,516,414	)	$	—	$	(1,516,414	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	3,419,046		$	—		$	—	$	3,419,046
Futures Contracts (Unrealized Depreciation)		(3,798,027	)		—			—		(3,798,027	)
Total Futures Contracts	$	(378,981	)	$	—		$	—	$	(378,981	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	9,418,852		$	—	$	9,418,852

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-333

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—84.2% of Net Assets

Security Description	Shares		Value
Argentina—0.1%
Banco Macro S.A. (ADR)		14,100	$	366,882
Grupo Financiero Galicia S.A. (ADR)		3,900		50,700
				417,582
Brazil—6.6%
Ambev S.A. (ADR)		389,100		1,797,642
Atacadao S.A.		29,600		149,961
B3 S.A. - Brasil Bolsa Balcao		67,000		703,549
Banco Bradesco S.A. (ADR)		395,200		3,216,928
Banco BTG Pactual S.A.		67,600		952,594
Banco do Brasil S.A.		52,100		570,411
Banco Santander Brasil S.A. (ADR)		89,400		973,566
BB Seguridade Participacoes S.A.		124,800		1,052,177
Braskem S.A. (ADR) (a)		15,600		244,140
Cia de Saneamento Basico do Estado de Sao Paulo (ADR)		41,000		487,080
Cia de Saneamento de Minas Gerais-COPASA		20,800		340,363
Construtora Tenda S.A.		33,200		196,885
EcoRodovias Infraestrutura e Logistica S.A.		165,400		561,292
EDP - Energias do Brasil S.A.		21,600		101,893
Engie Brasil Energia S.A.		64,800		692,300
Fleury S.A.		29,100		185,038
IRB Brasil Resseguros S/A		11,100		100,609
Itau Unibanco Holding S.A. (ADR)		383,300		3,223,553
Lojas Renner S.A.		23,800		289,098
Mahle-Metal Leve S.A.		21,500		122,792
MRV Engenharia e Participacoes S.A.		42,000		178,313
Petroleo Brasileiro S.A. (ADR)		166,000		2,402,020
SLC Agricola S.A.		34,800		149,839
Smiles Fidelidade S.A.		3,300		30,181
Sul America S.A.		57,800		663,699
Tim Participacoes S.A. (ADR)		9,200		132,112
Transmissora Alianca de Energia Eletrica S.A.		20,300		140,709
Tupy S.A.		56,000		241,928
Vale S.A. (ADR)		187,700		2,158,550
YDUQS Part		18,800		163,252
				22,222,474
Chile—0.9%
Banco de Chile		4,015,122		562,222
Banco de Credito e Inversiones S.A.		1,048		66,003
Cencosud S.A.		255,160		419,930
Cia Cervecerias Unidas S.A.		35,346		394,839
Colbun S.A.		1,364,365		246,078
Enel Americas S.A. (ADR)		138,287		1,259,794
Inversiones La Construccion S.A.		5,453		84,134
				3,033,000
China—28.4%
AAC Technologies Holdings, Inc.		13,500		72,202
Air China, Ltd. - Class H		486,000		430,407
Alibaba Group Holding, Ltd. (ADR) (a)		87,000		14,549,010
Angang Steel Co., Ltd. - Class H		99,600		36,513
Anhui Conch Cement Co., Ltd. - Class H		208,000		1,240,655
Anhui Expressway Co., Ltd. - Class H		78,000		43,615
ANTA Sports Products, Ltd.		110,000		910,961
China—(Continued)
Autohome, Inc. (ADR) (a)		6,300		523,719
BAIC Motor Corp., Ltd. - Class H		214,000		132,565
Baidu, Inc. (ADR) (a)		14,300		1,469,468
Bank of China, Ltd. - Class H		6,621,000		2,609,046
Bank of Communications Co., Ltd. - Class H		1,391,000		905,557
Baozun, Inc. (ADR) (a)		8,700		371,490
Beijing Capital International Airport Co., Ltd. - Class H		106,000		90,688
BYD Electronic International Co., Ltd.		495,500		749,278
China Construction Bank Corp. - Class H		6,848,000		5,207,517
China Everbright Bank Co., Ltd. - Class H		276,000		117,812
China Everbright, Ltd.		230,000		270,218
China Galaxy Securities Co., Ltd. - Class H		524,000		280,697
China Lesso Group Holdings, Ltd.		487,000		463,030
China Life Insurance Co., Ltd. - Class H		275,000		633,910
China Lilang, Ltd.		40,000		31,963
China Longyuan Power Group Corp., Ltd. - Class H		57,000		32,019
China Medical System Holdings, Ltd.		262,000		313,460
China Merchants Bank Co., Ltd. - Class H		380,000		1,820,550
China Mobile, Ltd.		457,000		3,792,756
China National Building Material Co., Ltd. - Class H		960,000		867,322
China Oriental Group Co., Ltd.		344,000		119,416
China Overseas Land & Investment, Ltd.		64,000		202,463
China Pacific Insurance Group Co., Ltd. - Class H		96,200		355,446
China Petroleum & Chemical Corp. - Class H		2,158,000		1,288,152
China Power International Development, Ltd.		819,000		170,846
China Railway Construction Corp., Ltd. - Class H		70,500		77,031
China Reinsurance Group Corp. - Class H		632,000		102,475
China Resources Cement Holdings, Ltd.		632,000		634,687
China Resources Land, Ltd.		128,000		533,655
China Resources Pharmaceutical Group, Ltd.		133,000		125,141
China Resources Power Holdings Co., Ltd.		398,000		484,057
China Shenhua Energy Co., Ltd. - Class H		498,000		996,858
China Shineway Pharmaceutical Group, Ltd.		52,000		45,408
China Telecom Corp., Ltd. - Class H		2,214,000		1,011,725
China Traditional Chinese Medicine Holdings Co., Ltd.		218,000		100,551
China Vanke Co., Ltd. - Class H		102,100		357,457
China Yongda Automobiles Services Holdings, Ltd.		77,500		64,262
Chlitina Holding, Ltd.		12,000		82,000
Chongqing Rural Commercial Bank Co., Ltd. - Class H		474,000		252,340
Citic Pacific, Ltd.		489,000		615,544
CNOOC, Ltd.		1,592,000		2,445,937
Consun Pharmaceutical Group, Ltd.		58,000		32,159
Cosco Shipping Energy Transportation Co., Ltd. - Class H		198,000		88,194
Country Garden Holdings Co., Ltd.		782,000		985,050
CSPC Pharmaceutical Group, Ltd.		308,000		622,764
Ctrip.com International, Ltd. (ADR) (a)		13,200		386,628
Far East Horizon, Ltd.		591,000		549,267
Fosun International, Ltd.		331,000		411,879
Geely Automobile Holdings, Ltd.		391,000		668,634
Great Wall Motor Co., Ltd. - Class H		186,000		125,370
Guangzhou R&F Properties Co., Ltd. - Class H		366,800		555,684
Haitian International Holdings, Ltd.		15,000		30,618
Hengan International Group Co., Ltd.		129,000		842,377
Hollysys Automation Technologies, Ltd.		10,200		154,938
Hua Hong Semiconductor, Ltd.		161,000		322,672
Huatai Securities Co., Ltd. - Class H		27,200		40,977
Industrial & Commercial Bank of China, Ltd. - Class H		5,077,000		3,390,092

BHFTI-334

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
China—(Continued)
JD.com, Inc. (ADR) (a)		44,200	$	1,246,882
Jiangsu Expressway Co., Ltd. - Class H		498,000		633,188
Kasen International Holdings, Ltd. (a)		196,000		151,814
Lenovo Group, Ltd.		174,000		115,766
LexinFintech Holdings, Ltd. (ADR) (a)		10,200		102,306
Logan Property Holdings Co., Ltd.		560,000		798,530
Longfor Group Holdings, Ltd.		24,500		91,875
Lonking Holdings, Ltd.		392,000		101,486
Luye Pharma Group, Ltd.		433,500		309,577
Maanshan Iron & Steel Co., Ltd. - Class H		78,000		29,367
Metallurgical Corp. of China, Ltd. - Class H		240,000		53,986
Momo, Inc. (ADR)		5,200		161,096
NetEase, Inc. (ADR)		6,900		1,836,642
New Oriental Education & Technology Group, Inc. (ADR) (a)		2,800		310,128
PICC Property & Casualty Co., Ltd. - Class H		984,000		1,155,206
Ping An Insurance Group Co. of China, Ltd. - Class H		419,000		4,848,964
Poly Property Group Co., Ltd.		83,234		29,032
Qudian, Inc. (ADR) (a)		38,000		261,820
Shanghai Industrial Holdings, Ltd.		54,000		100,603
Shanghai Industrial Urban Development Group, Ltd.		54,000		6,789
Shanghai Pharmaceuticals Holding Co., Ltd. - Class H		25,700		46,588
Shenzhen Expressway Co., Ltd. - Class H		338,000		441,703
Shenzhou International Group Holdings, Ltd.		64,900		853,836
Shimao Property Holdings, Ltd.		203,000		589,706
Sihuan Pharmaceutical Holdings Group, Ltd.		1,829,000		279,230
SINA Corp. (a)		900		35,271
Sinopec Engineering Group Co., Ltd. - Class H		369,000		231,804
Sinopec Shanghai Petrochemical Co., Ltd. - Class H		546,000		159,444
Sinopharm Group Co., Ltd. - Class H		208,400		655,119
Sinotruk Hong Kong, Ltd.		257,500		383,365
Sun Art Retail Group, Ltd.		123,500		125,691
Sunac China Holdings, Ltd.		267,000		1,079,866
TAL Education Group (ADR) (a)		26,800		917,632
Tencent Holdings, Ltd.		370,200		15,711,176
Tian Ge Interactive Holdings, Ltd. (a)		66,231		16,962
Tianneng Power International, Ltd.		274,000		193,564
Uni-President China Holdings, Ltd.		277,000		299,649
Vipshop Holdings, Ltd. (ADR) (a)		37,900		338,068
Want Want China Holdings, Ltd.		832,000		662,458
Weichai Power Co., Ltd. - Class H		590,000		855,434
Xtep International Holdings, Ltd.		172,500		93,951
Yuexiu Property Co., Ltd.		2,018,000		439,409
Yuexiu Transport Infrastructure, Ltd.		184,000		159,007
Yum China Holdings, Inc.		30,200		1,371,986
Yuzhou Properties Co., Ltd.		72,000		28,695
YY, Inc. (ADR) (a)		1,000		56,230
Zhongsheng Group Holdings, Ltd.		82,000		259,879
ZTE Corp. - Class H (a)		90,800		243,830
				96,113,792
Colombia—0.2%
Almacenes Exito S.A. (b) (c)		9,183		46,495
Ecopetrol S.A.		535,787		454,187
Interconexion Electrica S.A. ESP		31,998		167,714
				668,396
Czech Republic—0.1%
Komercni Banka A/S		1,624		54,930
Moneta Money Bank		68,553		211,338
O2 Czech Republic A.S.		10,748		97,200
				363,468
Egypt—0.0%
ElSewedy Electric Co.		89,672		73,588
Greece—0.4%
Aegean Airlines S.A.		2,529		22,299
Hellenic Telecommunications Organization S.A.		33,457		461,135
JUMBO S.A.		13,134		249,541
OPAP S.A.		76,722		789,626
				1,522,601
Hong Kong—0.3%
Bosideng International Holdings, Ltd.		596,000		254,851
Sino Biopharmaceutical, Ltd.		360,000		460,350
SSY Group, Ltd.		118,000		92,919
Xinyi Glass Holdings, Ltd.		58,000		64,087
				872,207
Hungary—0.3%
Magyar Telekom Telecommunications plc		42,755		61,236
MOL Hungarian Oil & Gas plc		61,011		573,857
OTP Bank		6,851		285,443
				920,536
India—0.4%
Dr Reddy’s Laboratories, Ltd. (ADR)		18,200		689,598
Infosys, Ltd. (ADR)		53,600		609,432
Vedanta, Ltd. (ADR)		24,500		212,660
				1,511,690
Indonesia—2.2%
Adaro Energy Tbk PT		2,292,600		208,857
Astra International Tbk PT		2,295,100		1,069,778
Bank Central Asia Tbk PT		318,900		682,114
Bank Negara Indonesia Persero Tbk PT		1,605,800		831,885
Bank Rakyat Indonesia Persero Tbk PT		5,992,900		1,740,380
Gudang Garam Tbk PT		10,500		38,755
Indofood CBP Sukses Makmur Tbk PT		376,300		317,834
Indofood Sukses Makmur Tbk PT		1,559,100		846,025
Perusahaan Gas Negara Tbk PT		1,960,200		290,588
Telekomunikasi Indonesia Persero Tbk PT (ADR)		52,300		1,574,753
United Tractors Tbk PT		9,124		13,244
Waskita Beton Precast Tbk PT		260,731		5,953
				7,620,166
Luxembourg—0.1%
Ternium S.A. (ADR)		9,700		186,143
Malaysia—1.8%
AirAsia Group Bhd		306,700		128,769

BHFTI-335

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Malaysia—(Continued)
Alliance Bank Malaysia Bhd		173,300	$	117,993
AMMB Holdings Bhd		207,700		205,426
Astro Malaysia Holdings Bhd		472,500		164,797
Berjaya Sports Toto Bhd		333,100		210,309
Bermaz Auto Bhd		226,200		123,297
Carlsberg Brewery Malaysia Bhd		37,700		236,469
DiGi.Com Bhd		136,000		154,309
Fraser & Neave Holdings Bhd		16,100		134,165
Genting Malaysia Bhd		463,500		336,202
George Kent Malaysia BHD		339,700		82,895
Hong Leong Financial Group Bhd		83,000		322,076
MISC Bhd		304,200		566,107
Muhibbah Engineering M Bhd		143,300		82,585
Petronas Chemicals Group Bhd		448,400		808,293
Public Bank Bhd		60,000		287,822
RHB Bank Bhd		583,500		786,099
Sime Darby Bhd		306,000		164,693
Supermax Corp. Bhd		699,200		267,694
Telekom Malaysia Bhd		187,000		161,035
Tenaga Nasional Bhd		196,700		640,908
YTL Power International Bhd		302,000		53,311
				6,035,254
Mexico—2.6%
America Movil S.A.B. de C.V.		2,959,300		2,198,406
Corp. Inmobiliaria Vesta S.A.B. de C.V.		44,100		67,667
Fomento Economico Mexicano S.A.B. de C.V.		118,400		1,085,003
Gruma S.A.B. de C.V.		53,205		544,641
Grupo Aeroportuario del Centro Norte S.A.B. de C.V.		7,100		42,250
Grupo Aeroportuario del Pacifico S.A.B. de C.V. - Class B		13,300		128,363
Grupo Financiero Banorte S.A.B. de C.V. - Class O		233,400		1,257,952
Grupo Herdez S.A.B. de C.V.		24,400		51,807
Grupo Mexico S.A.B. de C.V. - Series B		234,000		548,656
Industrias Bachoco S.A.B. de C.V.		17,800		78,194
Kimberly-Clark de Mexico S.A.B. de C.V. - Class A (a)		295,700		594,277
Orbia Advance Corp. S.A.B. de C.V.		235,200		461,008
Wal-Mart de Mexico S.A.B. de C.V.		555,100		1,645,272
				8,703,496
Peru—0.5%
Credicorp, Ltd.		7,500		1,563,300
Nexa Resources S.A.		3,200		30,112
				1,593,412
Philippines—0.8%
Aboitiz Power Corp.		273,300		202,195
Alliance Global Group, Inc.		386,000		81,311
Altus San Nicolas Corp. (a)		2,540		254
Ayala Land, Inc.		316,200		301,839
Cebu Air, Inc.		43,420		75,418
DMCI Holdings, Inc.		1,802,400		289,277
Globe Telecom, Inc.		6,805		240,187
International Container Terminal Services, Inc.		119,770		278,791
Manila Electric Co.		40,900		292,041
Megaworld Corp.		1,548,900		130,671
Philippines—(Continued)
Metro Pacific Investments Corp.		2,195,000		210,964
PLDT, Inc.		20,365		446,113
Puregold Price Club, Inc.		36,100		27,205
Robinsons Land Corp.		131,900		62,361
Semirara Mining & Power Corp.		284,500		124,838
Vista Land & Lifescapes, Inc.		327,900		48,739
				2,812,204
Poland—0.8%
Bank Polska Kasa Opieki S.A.		22,403		571,990
Cyfrowy Polsat S.A.		65,151		429,925
Dino Polska S.A. (a)		2,620		102,696
Grupa Lotos S.A.		2,491		55,033
Polski Koncern Naftowy ORLEN S.A.		26,516		653,859
Powszechna Kasa Oszczednosci Bank Polski S.A.		6,388		62,698
Powszechny Zaklad Ubezpieczen S.A.		107,337		1,000,375
				2,876,576
Qatar—0.8%
Doha Bank QPSC		99,315		70,069
Masraf Al Rayan QSC		73,527		71,524
Medicare Group		33,245		69,925
Ooredoo QPSC		181,110		359,600
Qatar Electricity & Water Co. QSC		22,755		96,624
Qatar Gas Transport Co., Ltd.		222,590		147,380
Qatar International Islamic Bank QSC		49,090		120,409
Qatar Islamic Bank SAQ		108,013		462,814
Qatar National Bank QPSC		238,582		1,263,560
				2,661,905
Russia—4.2%
Gazprom PJSC (ADR)		404,329		2,785,600
Globaltrans Investment plc (GDR)		41,504		356,699
Lukoil PJSC (ADR)		38,457		3,175,635
MMC Norilsk Nickel PJSC (ADR)		75,726		1,938,128
Mobile TeleSystems PJSC (ADR)		74,300		601,830
Novatek PJSC (GDR)		2,615		529,238
Novolipetsk Steel PJSC (GDR)		14,597		317,184
Sberbank of Russia PJSC (ADR)		222,599		3,154,258
Severstal PJSC (GDR)		49,084		704,411
Tatneft PJSC (ADR)		6,122		388,578
X5 Retail Group NV (GDR)		10,416		364,033
				14,315,594
Singapore—0.1%
BOC Aviation, Ltd.		36,600		338,575
South Africa—4.5%
Absa Group, Ltd.		9,060		91,622
AngloGold Ashanti, Ltd.		5,373		98,759
Astral Foods, Ltd.		21,114		204,956
AVI, Ltd.		20,259		110,052
Barloworld, Ltd.		61,252		467,613
City Lodge Hotels, Ltd.		2,664		14,952
Coronation Fund Managers, Ltd.		100,826		277,413

BHFTI-336

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
South Africa—(Continued)
FirstRand, Ltd.		340,080	$	1,399,121
Growthpoint Properties, Ltd.		442,257		674,711
Imperial Logistics, Ltd.		11,920		41,105
Kumba Iron Ore, Ltd.		18,684		462,140
Liberty Holdings, Ltd.		64,892		481,860
Life Healthcare Group Holdings, Ltd.		370,115		554,495
Momentum Metropolitan Holdings		43,062		53,049
Motus Holdings, Ltd.		11,622		52,857
MTN Group, Ltd.		44,989		286,173
MultiChoice Group, Ltd. (a)		42,601		331,902
Naspers, Ltd. - N Shares		27,578		4,189,835
Netcare, Ltd.		137,684		159,624
Old Mutual, Ltd.		162,750		207,681
Pick n Pay Stores, Ltd.		7,065		27,782
Reunert, Ltd.		45,892		209,141
Sanlam, Ltd.		48,169		237,557
Sappi, Ltd.		14,872		36,920
Sasol, Ltd.		29,240		489,155
Shoprite Holdings, Ltd.		62,263		505,080
SPAR Group, Ltd. (The)		26,785		338,404
Standard Bank Group, Ltd.		88,984		1,027,874
Telkom S.A. SOC, Ltd.		130,259		607,626
Truworths International, Ltd.		84,139		294,660
Tsogo Sun Gaming, Ltd.		61,978		53,983
Vodacom Group, Ltd.		68,934		544,769
Wilson Bayly Holmes-Ovcon, Ltd.		1,261		11,903
Woolworths Holdings, Ltd.		200,833		731,625
				15,276,399
South Korea—11.9%
Cell Biotech Co., Ltd.		8,308		117,781
Celltrion, Inc. (a)		1,320		181,099
Cheil Worldwide, Inc.		11,446		237,334
Chong Kun Dang Pharmaceutical Corp.		4,671		326,487
CJ Corp.		1,059		72,622
CJ ENM Co., Ltd.		1,840		260,715
Daeduck Electronics Co.		3,256		29,546
Daelim Industrial Co., Ltd.		4,623		402,893
Daesang Corp.		3,607		67,113
Daewoong Co., Ltd.		8,144		100,464
Daishin Securities Co., Ltd.		28,512		313,554
Dong-A ST Co., Ltd.		1,121		78,497
Doosan Bobcat, Inc.		4,589		136,087
E-Mart, Inc.		3,035		285,773
Grand Korea Leisure Co., Ltd.		3,700		63,704
Green Cross Corp.		1,697		161,622
GS Home Shopping, Inc.		1,535		198,320
Handsome Co., Ltd.		1,122		27,294
Huchems Fine Chemical Corp.		22,047		394,689
Hyundai Engineering & Construction Co., Ltd.		1,390		53,835
Hyundai Glovis Co., Ltd.		4,104		535,819
Hyundai Home Shopping Network Corp.		4,729		360,609
Hyundai Mobis Co., Ltd.		6,251		1,320,376
Hyundai Motor Co.		11,569		1,296,349
Industrial Bank of Korea		37,056		409,015
Kangwon Land, Inc.		14,367		355,198
South Korea—(Continued)
KB Financial Group, Inc.		43,237		1,546,662
Kia Motors Corp.		34,834		1,331,812
Korea Investment Holdings Co., Ltd.		3,176		198,856
Korea Real Estate Investment & Trust Co., Ltd.		29,637		51,673
KT&G Corp.		15,482		1,366,729
Kumho Petrochemical Co., Ltd.		6,122		364,151
LG Chem, Ltd.		2,209		551,028
LG Electronics, Inc.		17,394		976,462
LG Household & Health Care, Ltd.		141		154,328
MegaStudyEdu Co., Ltd.		2,682		76,363
Meritz Securities Co., Ltd.		112,397		474,715
NAVER Corp.		3,635		478,053
NH Investment & Securities Co., Ltd.		36,494		387,675
Partron Co., Ltd.		21,388		229,745
POSCO		6,745		1,277,523
S&T Motiv Co., Ltd.		2,248		102,060
Samjin Pharmaceutical Co., Ltd.		7,508		157,460
Samsung Card Co., Ltd.		9,613		281,648
Samsung Electro-Mechanics Co., Ltd.		7,615		658,536
Samsung Electronics Co., Ltd.		317,672		12,960,996
Samsung Fire & Marine Insurance Co., Ltd.		3,322		618,255
Samsung Securities Co., Ltd.		9,340		275,534
SFA Engineering Corp.		11,358		400,883
Shinhan Financial Group Co., Ltd.		47,520		1,656,275
Shinsegae, Inc.		749		164,962
SK Holdings Co., Ltd.		4,935		838,641
SK Hynix, Inc.		34,318		2,359,953
SK Innovation Co., Ltd.		3,445		480,149
SK Telecom Co., Ltd.		4,117		828,388
SKC Co., Ltd.		8,006		266,914
Soulbrain Co., Ltd.		4,659		284,385
WiSoL Co., Ltd.		29,828		357,575
Woongjin Coway Co., Ltd.		2,880		203,861
Woori Financial Group, Inc.		17,935		186,813
				40,335,858
Taiwan—11.6%
Alchip Technologies, Ltd.		42,000		215,926
Ardentec Corp.		66,000		59,525
Asia Vital Components Co., Ltd.		237,000		290,287
AU Optronics Corp.		113,000		28,720
Bioteque Corp.		17,000		69,590
Catcher Technology Co., Ltd.		48,000		363,584
Cathay Financial Holding Co., Ltd.		1,025,000		1,352,702
Chailease Holding Co., Ltd.		101,970		412,035
Cheng Uei Precision Industry Co., Ltd.		88,000		98,709
Chicony Electronics Co., Ltd.		27,000		79,544
China Motor Corp. (b) (c)		84,000		66,741
Chinatrust Financial Holding Co., Ltd.		644,000		428,280
Chipbond Technology Corp.		187,000		346,714
ChipMOS Technologies, Inc.		391,000		397,623
Chong Hong Construction Co., Ltd.		57,000		146,062
Chunghwa Telecom Co., Ltd. (ADR)		5,800		207,002
Compeq Manufacturing Co., Ltd.		234,000		263,368
Darfon Electronics Corp.		87,000		110,487
Eva Airways Corp.		182,726		80,487

BHFTI-337

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Taiwan—(Continued)
Far Eastern Department Stores, Ltd.		202,000	$	155,336
Far Eastern New Century Corp.		587,000		543,120
First Financial Holding Co., Ltd.		1,523,060		1,071,230
FLEXium Interconnect, Inc.		167,000		508,140
Formosa Chemicals & Fibre Corp.		283,000		792,297
Formosa Plastics Corp.		90,000		274,580
Formosa Taffeta Co., Ltd.		257,000		280,505
Fubon Financial Holding Co., Ltd.		23,000		33,078
Grand Pacific Petrochemical (a)		226,000		132,179
Great Wall Enterprise Co., Ltd.		55,000		66,834
Hon Hai Precision Industry Co., Ltd.		511,000		1,209,680
ITEQ Corp.		24,000		117,518
King Yuan Electronics Co., Ltd.		116,000		130,971
King’s Town Bank Co., Ltd.		69,000		68,671
Largan Precision Co., Ltd.		2,000		289,072
Lite-On Technology Corp.		495,000		785,219
Lotes Co., Ltd.		26,000		227,111
MediaTek, Inc.		36,000		429,171
Mega Financial Holding Co., Ltd.		1,452,000		1,347,095
Nan Ya Plastics Corp.		31,000		69,746
Novatek Microelectronics Corp.		151,000		866,347
Phison Electronics Corp.		41,000		365,405
Pou Chen Corp.		663,000		851,065
Powertech Technology, Inc.		201,000		564,947
President Chain Store Corp.		48,000		449,001
Primax Electronics, Ltd.		193,000		367,655
Run Long Construction Co., Ltd. (a)		46,000		94,390
Shinkong Synthetic Fibers Corp.		188,000		69,200
SinoPac Financial Holdings Co., Ltd.		2,595,000		1,010,388
Syncmold Enterprise Corp.		27,000		66,837
Synnex Technology International Corp.		201,000		235,548
Taiwan Cement Corp.		698,556		892,770
Taiwan Hon Chuan Enterprise Co., Ltd.		38,000		67,734
Taiwan PCB Techvest Co., Ltd.		78,000		90,508
Taiwan Semiconductor Manufacturing Co., Ltd.		1,614,000		14,218,428
Taiwan Styrene Monomer		231,000		162,082
Teco Electric and Machinery Co., Ltd.		348,000		280,404
Tong Hsing Electronic Industries, Ltd.		63,000		255,862
Tong Yang Industry Co., Ltd.		44,000		66,620
Tripod Technology Corp.		171,000		614,563
TXC Corp.		109,000		137,044
Uni-President Enterprises Corp.		575,000		1,386,324
Unimicron Technology Corp.		30,000		42,209
United Integrated Services Co., Ltd.		123,000		652,178
Walsin Lihwa Corp.		447,000		209,380
Yuanta Financial Holding Co., Ltd.		1,781,000		1,062,015
Zhen Ding Technology Holding, Ltd.		160,000		572,451
				39,200,294
Thailand—2.7%
Advanced Info Service PCL		68,700		494,464
AP Thailand PCL		550,400		121,544
Bangkok Bank PCL		58,600		332,586
CP ALL PCL		115,600		307,216
Electricity Generating PCL		82,800		973,315
GFPT PCL		147,600		86,383
Thailand—(Continued)
Krung Thai Bank PCL		1,192,800		670,792
Major Cineplex Group PCL		256,300		200,280
PTT Exploration & Production PCL (NVDR)		273,100		1,083,902
PTT Global Chemical PCL		344,100		606,408
PTT PCL		1,185,300		1,792,386
Quality Houses PCL		6,566,200		567,348
Siam Cement PCL (The)		42,800		570,947
Supalai PCL		87,800		51,700
Thai Oil PCL		79,500		181,494
Thai Union Group PCL		895,900		489,479
Thai Vegetable Oil PCL		199,800		170,021
Tisco Financial Group PCL		160,800		539,817
				9,240,082
Turkey—0.8%
Akbank Turk A/S (a)		51,978		74,895
Arcelik A/S (a)		23,363		78,796
BIM Birlesik Magazalar A/S		31,236		272,054
Ford Otomotiv Sanayi A/S		62,976		662,988
KOC Holding A/S		100,607		337,174
TAV Havalimanlari Holding A/S		38,585		161,365
Tupras Turkiye Petrol Rafinerileri A/S		12,560		318,892
Turkcell Iletisim Hizmetleri A/S		66,277		152,618
Turkiye Sise ve Cam Fabrikalari		647,382		535,881
				2,594,663
United Arab Emirates—0.8%
Abu Dhabi Commercial Bank PJSC		439,341		940,430
Aldar Properties PJSC		1,351,347		769,090
Dubai Islamic Bank PJSC		540,972		773,012
Emirates Telecommunications Group Co. PJSC		57,228		257,009
First Abu Dhabi Bank PJSC		14,799		60,619
				2,800,160
United States—0.3%
JBS S.A.		93,400		737,093
Nexteer Automotive Group, Ltd.		158,000		130,960
				868,053
Total Common Stocks (Cost $302,959,576)				285,178,168
Mutual Funds—10.8%
Investment Company Securities—10.8%
iShares MSCI India ETF		844,600		28,353,222
iShares MSCI Saudi Arabia ETF		267,083		8,140,690
Total Mutual Funds (Cost $38,308,312)				36,493,912
Preferred Stocks—1.2%
Brazil—0.6%
Cia de Transmissao de Energia Eletrica Paulista		45,100		268,106

BHFTI-338

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Preferred Stocks—(Continued)

Security Description	Shares		Value
Brazil—(Continued)
Itausa - Investimentos Itau S.A.		504,700	$	1,600,969
				1,869,075
Chile—0.1%
Embotelladora Andina S.A.		77,687		259,969
South Korea—0.5%
Samsung Electronics Co., Ltd.		52,745		1,733,482
Total Preferred Stocks (Cost $3,511,564)				3,862,526
Short-Term Investment—3.1%
Mutual Fund—3.1%
AIM STIT-STIC Prime Portfolio		10,486,781		10,486,781
Total Short-Term Investments (Cost $10,486,781)				10,486,781
Total Investments—99.3% (Cost $355,266,233)				336,021,387
Other assets and liabilities (net)—0.7%				2,512,869
Net Assets—100.0%			$	338,534,256

(a)	Non-income producing security.
(b)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2019, these securities represent less than 0.05% of net assets.
(c)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.

Ten Largest Industries as of September 30, 2019 (Unaudited)	% of Net Assets
Banks		15.1
Internet & Direct Marketing Retail		6.5
Semiconductors & Semiconductor Equipment		6.0
Oil, Gas & Consumable Fuels		6.0
Interactive Media & Services		5.4
Technology Hardware, Storage & Peripherals		5.0
Insurance		3.8
Wireless Telecommunication Services		2.9
Metals & Mining		2.4
Real Estate Management & Development		2.4

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
MSCI Emerging Markets Index Mini Futures		12/20/19		217		USD	10,870,615	$	(342,725	)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Other Abbreviations

(NVDR)—	Non-Voting Depository Receipts
(ADR)—	American Depositary Receipt
(ETF)—	Exchange-Traded Fund
(GDR)—	Global Depositary Receipt

BHFTI-339

Brighthouse Funds Trust I

SSGA Emerging Markets Enhanced Index Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2		Level 3		Total
Common Stocks
Argentina	$	417,582		$	—	$	—	$	417,582
Brazil		22,222,474			—		—		22,222,474
Chile		3,033,000			—		—		3,033,000
China		24,093,314			72,020,478		—		96,113,792
Colombia		621,901			—		46,495		668,396
Czech Republic		—			363,468		—		363,468
Egypt		—			73,588		—		73,588
Greece		—			1,522,601		—		1,522,601
Hong Kong		—			872,207		—		872,207
Hungary		—			920,536		—		920,536
India		1,511,690			—		—		1,511,690
Indonesia		1,574,753			6,045,413		—		7,620,166
Luxembourg		186,143			—		—		186,143
Malaysia		—			6,035,254		—		6,035,254
Mexico		8,703,496			—		—		8,703,496
Peru		1,593,412			—		—		1,593,412
Philippines		—			2,812,204		—		2,812,204
Poland		—			2,876,576		—		2,876,576
Qatar		—			2,661,905		—		2,661,905
Russia		601,830			13,713,764		—		14,315,594
Singapore		—			338,575		—		338,575
South Africa		—			15,276,399		—		15,276,399
South Korea		—			40,335,858		—		40,335,858
Taiwan		207,002			38,926,551		66,741		39,200,294
Thailand		3,320,788			5,919,294		—		9,240,082
Turkey		—			2,594,663		—		2,594,663
United Arab Emirates		—			2,800,160		—		2,800,160
United States		737,093			130,960		—		868,053
Total Common Stocks		68,824,478			216,240,454		113,236		285,178,168
Total Mutual Funds*		36,493,912			—		—		36,493,912
Preferred Stocks
Brazil		1,869,075			—		—		1,869,075
Chile		259,969			—		—		259,969
South Korea		—			1,733,482		—		1,733,482
Total Preferred Stocks		2,129,044			1,733,482		—		3,862,526
Total Short-Term Investment*		10,486,781			—		—		10,486,781
Total Investments	$	117,934,215		$	217,973,936	$	113,236	$	336,021,387
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(342,725	)	$	—	$	—	$	(342,725	)

* 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 September 30, 2019 is not presented.

Transfers from Level 1 to Level 3 in the amount of $108,600 were due to trading halts on the securities’ respective exchanges which resulted in the lack of observable inputs.

BHFTI-340

Brighthouse Funds Trust I

SSGA Growth and Income ETF Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—95.5% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—95.5%
Communication Services Select Sector SPDR Fund (a) (b)		874,435	$	43,302,021
iShares Core MSCI Emerging Markets ETF (a)		1,347,030		66,031,411
iShares Core S&P Mid-Cap ETF (a)		233,646		45,147,417
iShares Core S&P Small-Cap ETF (a)		567,347		44,162,290
iShares MSCI Canada ETF (a)		792,295		22,897,326
iShares MSCI EAFE ETF (a)		3,097,965		202,018,298
iShares TIPS Bond ETF (a)		958,096		111,416,984
Real Estate Select Sector SPDR Fund (a) (b)		1,148,817		45,194,461
SPDR Bloomberg Barclays High Yield Bond ETF (a) (b)		2,660,207		289,270,909
SPDR Dow Jones International Real Estate ETF (a) (b)		1,149,689		45,435,709
SPDR S&P 500 ETF Trust (a) (b)		1,950,282		578,785,189
SPDR S&P International Small Cap ETF (b)		1,521,437		44,715,033
Technology Select Sector SPDR Fund (a) (b)		569,106		45,830,106
Vanguard REIT ETF (a)		1,459,299		136,079,632
Vanguard Total Bond Market ETF (a)		4,746,193		400,721,075
Total Mutual Funds (Cost $1,938,639,603)				2,121,007,861
Short-Term Investment—4.5%
Mutual Fund—4.5%
AIM STIT-STIC Prime Portfolio		99,095,051		99,095,051
Total Short-Term Investments (Cost $99,095,051)				99,095,051
Securities Lending Reinvestments (c)—27.4%
Certificates of Deposit—11.9%
Banco Del Estado De Chile New York
2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		5,000,000		4,999,725
2.222%, 1M LIBOR + 0.180%, 10/09/19 (d)		5,000,000		5,000,000
Bank of Montreal (Chicago)
1.990%, SOFR + 0.170%, 02/07/20 (d)		5,000,000		5,001,055
2.070%, SOFR + 0.250%, 07/10/20 (d)		2,000,000		2,000,136
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		11,000,000		10,999,945
2.210%, FEDEFF PRV + 0.380%, 09/09/20 (d)		5,000,000		4,999,980
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		9,000,000		8,996,076
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		7,000,000		7,001,295
Canadian Imperial Bank of Commerce 2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		12,000,000		12,000,408
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		5,000,000		5,000,715
Credit Industriel et Commercial 2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		5,000,000		4,999,370
Credit Suisse AG
2.219%, 1M LIBOR + 0.130%, 11/04/19 (d)		7,000,000		6,999,440
2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		18,000,000		18,000,000
DNB Bank ASA 2.020%, 03/10/20		3,000,000		2,999,358
DZ Bank AG
Zero Coupon, 10/23/19		4,970,404		4,993,300
Certificates of Deposit—(Continued)
DZ Bank AG
Zero Coupon, 11/18/19		994,301		997,180
Zero Coupon, 03/10/20		3,958,375		3,963,160
Zero Coupon, 03/17/20		7,914,771		7,923,120
Industrial & Commercial Bank of China, Corp. 2.330%, 12/04/19		2,000,000		1,999,968
KBC Bank NV
Zero Coupon, 10/25/19		14,805,000		14,979,820
2.080%, 03/12/20		4,000,000		4,000,400
2.220%, 12/03/19		3,000,000		3,000,720
Mitsubishi UFJ Trust and Banking Corp. 2.226%, 1M LIBOR + 0.180%, 01/23/20 (d)		10,000,000		9,999,870
Mizuho Bank, Ltd.
Zero Coupon, 10/10/19		1,988,010		1,998,840
Zero Coupon, 10/23/19		7,952,646		7,989,280
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		6,000,000		5,999,382
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		7,000,000		6,998,880
Nationwide Building Society Zero Coupon, 10/09/19		6,987,132		6,996,290
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (d)		5,000,000		5,000,630
Norinchukin Bank, New York Zero Coupon, 10/09/19		1,988,162		1,998,940
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (d)		2,000,000		1,999,800
Royal Bank of Canada New York
2.060%, SOFR + 0.240%, 07/08/20 (d)		5,000,000		4,999,600
2.110%, SOFR + 0.290%, 07/16/20 (d)		4,000,000		4,001,260
Societe Generale 2.180%, FEDEFF PRV + 0.350%, 06/19/20 (d)		3,500,000		3,499,486
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		3,000,000		3,000,051
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		9,000,000		8,999,955
Sumitomo Mitsui Banking Corp. 2.172%, 1M LIBOR + 0.130%, 12/09/19 (d)		5,000,000		4,999,350
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 10/25/19		4,934,036		4,992,750
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 11/15/19		4,934,427		4,986,750
Svenska Handelsbanken AB 2.429%, 1M LIBOR + 0.380%, 12/10/19 (d)		7,000,000		7,002,814
Toronto-Dominion Bank 2.269%, 1M LIBOR + 0.180%, 06/03/20 (d)		4,000,000		3,999,885
Wells Fargo Bank N.A.
2.180%, FEDEFF PRV + 0.350%, 08/20/20 (d)		4,000,000		4,000,000
2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		20,000,000		20,004,660
				264,323,644
Commercial Paper—2.7%
Agricultural Bank of China 2.295%, 12/11/19		1,988,525		1,990,776

BHFTI-341

Brighthouse Funds Trust I

SSGA Growth and Income ETF Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Bank of China, Ltd. 2.470%, 10/11/19		7,953,070	$	7,994,312
Cafco LLC 2.120%, 10/31/19		2,988,870		2,994,543
China Construction Bank Corp.
2.470%, 10/18/19		1,987,513		1,997,716
2.500%, 10/01/19		2,000,000		2,000,016
ING Funding LLC
2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		10,000,000		10,001,620
Kells Funding LLC 2.260%, 10/28/19		2,980,602		2,995,438
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		7,000,000		7,003,899
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		5,000,000		5,000,140
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		3,000,000		2,999,616
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		7,000,000		7,001,043
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (d)		7,000,000		7,000,000
				58,979,119
Repurchase Agreements—11.5%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $10,000,533; collateralized by various Common Stock with an aggregate market value of $11,000,002.		10,000,000		10,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $17,098,619; collateralized by various Common Stock with an aggregate market value of $18,700,002.		17,000,000		17,000,000
CF Secured LLC Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $25,001,736; collateralized by U.S. Treasury and U.S. Government Agency Obligations with rates ranging from 0.000% - 5.000%, maturity dates ranging from 10/31/23 - 03/20/49, and an aggregate market value of $25,501,777.		25,000,000		25,000,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $22,639,725; collateralized by various Common Stock with an aggregate market value of $24,752,541.		22,500,000		22,500,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $5,010,549; collateralized by various Common Stock with an aggregate market value of $5,500,000.		5,000,000		5,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $1,805,496; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $1,841,514.		1,805,406		1,805,406
Repurchase Agreements—(Continued)
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $4,047,927; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $4,390,674.		4,000,000		4,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $20,007,856; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $22,228,150.		20,000,000		20,000,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $46,318,186; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $51,458,166.		46,300,000		46,300,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $10,003,889; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $11,110,619.		10,000,000		10,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $12,504,861; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $13,888,274.		12,500,000		12,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $25,509,917; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $28,332,079.		25,500,000		25,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $42,016,333; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $46,664,600.		42,000,000		42,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $15,005,833; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $16,665,929.		15,000,000		15,000,000
				256,605,406

BHFTI-342

Brighthouse Funds Trust I

SSGA Growth and Income ETF Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—1.3%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		20,000,000	$	20,000,000
Nordea Bank New York 1.760%, 10/01/19		10,000,000		10,000,000
				30,000,000
Total Securities Lending Reinvestments (Cost $609,885,377)				609,908,169
Total Investments—127.4% (Cost $2,647,620,031)				2,830,011,081
Other assets and liabilities (net)—(27.4)%				(609,173,388	)
Net Assets—100.0%			$	2,220,837,693

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $597,946,988 and the collateral received consisted of cash in the amount of $609,431,250. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Affiliated Issuer.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ETF)—	Exchange-Traded Fund
(REIT)—	Real Estate Investment Trust

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Mutual Funds
Investment Company Securities	$	2,121,007,861	$	—		$	—	$	2,121,007,861
Total Short-Term Investment*		99,095,051		—			—		99,095,051
Total Securities Lending Reinvestments*		—		609,908,169			—		609,908,169
Total Investments	$	2,220,102,912	$	609,908,169		$	—	$	2,830,011,081
Collateral for Securities Loaned (Liability)	$	—	$	(609,431,250	)	$	—	$	(609,431,250	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-343

Brighthouse Funds Trust I

SSGA Growth ETF Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Mutual Funds—95.5% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—95.5%
Communication Services Select Sector SPDR Fund (a) (b)		329,338	$	16,308,818
iShares Core MSCI Emerging Markets ETF		844,577		41,401,165
iShares Core S&P Mid-Cap ETF (a)		216,532		41,840,478
iShares Core S&P Small-Cap ETF		426,946		33,233,477
iShares MSCI Canada ETF (a)		591,075		17,082,067
iShares MSCI EAFE ETF (a)		1,943,155		126,713,138
iShares TIPS Bond ETF (a)		216,286		25,151,899
Real Estate Select Sector SPDR Fund (b)		435,485		17,131,980
SPDR Bloomberg Barclays High Yield Bond ETF (a) (b)		614,372		66,806,811
SPDR Dow Jones International Real Estate ETF (a) (b)		432,749		17,102,240
SPDR S&P 500 ETF Trust (a) (b)		874,675		259,577,300
SPDR S&P International Small Cap ETF (b)		858,629		25,235,106
Technology Select Sector SPDR Fund (a) (b)		212,802		17,136,945
Vanguard REIT ETF (a)		548,171		51,116,946
Vanguard Total Bond Market ETF		496,244		41,897,881
Total Mutual Funds (Cost $706,781,475)				797,736,251
Short-Term Investment—4.5%
Mutual Fund—4.5%
AIM STIT-STIC Prime Portfolio		37,600,639		37,600,639
Total Short-Term Investments (Cost $37,600,639)				37,600,639
Securities Lending Reinvestments (c)—26.1%
Certificates of Deposit—11.6%
Banco Del Estado De Chile New York 2.222%, 1M LIBOR + 0.180%, 10/09/19 (d)		5,000,000		5,000,000
Bank of Montreal (Chicago)
1.990%, SOFR + 0.170%, 02/07/20 (d)		2,000,000		2,000,422
2.070%, SOFR + 0.250%, 07/10/20 (d)		1,000,000		1,000,068
2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		2,000,000		1,999,964
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		5,000,000		4,999,975
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		3,000,000		2,998,692
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,370
Canadian Imperial Bank of Commerce 2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		2,000,000		2,000,068
Chiba Bank, Ltd. 2.250%, 10/17/19		2,000,000		2,000,104
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		1,000,000		1,000,143
Credit Industriel et Commercial 2.260%, 1M LIBOR + 0.160%, 01/03/20 (d)		4,000,000		3,999,496
Credit Suisse AG 2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		6,000,000		6,000,000
DZ Bank AG Zero Coupon, 11/18/19		2,982,904		2,991,540
Industrial & Commercial Bank of China, Corp. 2.330%, 12/04/19		3,000,000		2,999,952
Certificates of Deposit—(Continued)
KBC Bank NV
Zero Coupon, 10/25/19		3,948,000		3,994,619
2.220%, 12/03/19		2,000,000		2,000,480
Mizuho Bank, Ltd. Zero Coupon, 10/23/19		4,970,404		4,993,300
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		2,000,000		1,999,680
Nationwide Building Society Zero Coupon, 10/09/19		1,996,323		1,998,940
Natixis New York 2.453%, 3M LIBOR + 0.150%, 10/15/19 (d)		1,000,000		1,000,126
Royal Bank of Canada New York
2.060%, SOFR + 0.240%, 07/08/20 (d)		5,000,000		4,999,600
2.110%, SOFR + 0.290%, 07/16/20 (d)		2,000,000		2,000,630
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		5,000,000		5,000,085
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		5,000,000		4,999,975
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (d)		2,000,000		1,999,740
2.179%, 1M LIBOR + 0.140%, 11/12/19 (d)		2,000,000		1,999,900
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 10/25/19		986,807		998,550
2.184%, 1M LIBOR + 0.140%, 11/20/19 (d)		2,000,000		1,999,960
Sumitomo Mitsui Trust International, Ltd. Zero Coupon, 10/17/19		1,973,515		1,998,020
Svenska Handelsbanken AB 2.429%, 1M LIBOR + 0.380%, 12/10/19 (d)		3,000,000		3,001,206
Toronto-Dominion Bank 2.269%, 1M LIBOR + 0.180%, 06/03/20 (d)		2,000,000		1,999,942
Wells Fargo Bank N.A.
2.180%, FEDEFF PRV + 0.350%, 08/20/20 (d)		3,000,000		3,000,000
2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		6,000,000		6,001,398
				96,976,945
Commercial Paper—3.1%
Bank of China, Ltd. 2.470%, 10/11/19		3,976,535		3,997,156
Cafco LLC 2.120%, 10/31/19		3,237,943		3,244,088
China Construction Bank Corp.
2.470%, 10/18/19		993,756		998,858
2.500%, 10/01/19		2,000,000		2,000,016
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		5,000,000		5,000,810
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		2,000,000		2,001,114
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		3,000,000		3,000,084
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		2,000,000		1,999,744
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (d)		2,000,000		2,000,298

BHFTI-344

Brighthouse Funds Trust I

SSGA Growth ETF Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
China Construction Bank Corp.
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (d)		2,000,000	$	2,000,000
				26,242,168
Repurchase Agreements—10.8%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $3,520,304; collateralized by various Common Stock with an aggregate market value of $3,850,001.		3,500,000		3,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $1,006,210; collateralized by various Common Stock with an aggregate market value of $1,100,113.		1,000,000		1,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $4,008,439; collateralized by various Common Stock with an aggregate market value of $4,400,000.		4,000,000		4,000,000
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $5,010,549; collateralized by various Common Stock with an aggregate market value of $5,500,000.		5,000,000		5,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $3,063,430; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $3,124,543.		3,063,277		3,063,277
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $2,023,963; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $2,195,337.		2,000,000		2,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $11,404,478; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $12,670,045.		11,400,000		11,400,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $15,005,892; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $16,671,112.		15,000,000		15,000,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $32,512,639; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $36,109,512.		32,500,000		32,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,500,972; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,777,655.		2,500,000		2,500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,801,089; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,110,973.		2,800,000		2,800,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $2,000,778; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,222,124.		2,000,000		2,000,000
				89,763,277
Time Deposit—0.6%
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
Total Securities Lending Reinvestments (Cost $217,975,954)				217,982,390
Total Investments—126.1% (Cost $962,358,068)				1,053,319,280
Other assets and liabilities (net)—(26.1)%				(217,727,340	)
Net Assets—100.0%			$	835,591,940

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $213,716,185 and the collateral received consisted of cash in the amount of $217,829,465. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Affiliated Issuer.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

BHFTI-345

Brighthouse Funds Trust I

SSGA Growth ETF Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Glossary of Abbreviations

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ETF)—	Exchange-Traded Fund
(REIT)—	Real Estate Investment Trust

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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Mutual Funds
Investment Company Securities	$	797,736,251	$	—		$	—	$	797,736,251
Total Short-Term Investment*		37,600,639		—			—		37,600,639
Total Securities Lending Reinvestments*		—		217,982,390			—		217,982,390
Total Investments	$	835,336,890	$	217,982,390		$	—	$	1,053,319,280
Collateral for Securities Loaned (Liability)	$	—	$	(217,829,465	)	$	—	$	(217,829,465	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-346

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—96.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.8%
Boeing Co. (The)		145,405	$	55,322,240
Raytheon Co.		149,004		29,233,095
				84,555,335
Air Freight & Logistics—1.8%
United Parcel Service, Inc. - Class B		446,079		53,449,186
Airlines—1.2%
Southwest Airlines Co.		701,758		37,901,950
Auto Components—0.7%
Magna International, Inc.		421,237		22,464,569
Banks—11.5%
Citigroup, Inc.		446,856		30,868,812
Fifth Third Bancorp		1,685,702		46,154,521
JPMorgan Chase & Co.		913,335		107,490,396
Signature Bank		107,800		12,851,916
U.S. Bancorp		686,790		38,006,959
Wells Fargo & Co.		2,243,846		113,179,592
				348,552,196
Beverages—0.7%
PepsiCo, Inc.		160,322		21,980,146
Biotechnology—1.6%
AbbVie, Inc. (a)		332,000		25,139,040
Gilead Sciences, Inc.		355,331		22,520,879
				47,659,919
Building Products—1.9%
Fortune Brands Home & Security, Inc.		558,200		30,533,540
Johnson Controls International plc (a)		623,570		27,368,487
				57,902,027
Capital Markets—3.6%
Bank of New York Mellon Corp. (The)		705,705		31,904,923
Franklin Resources, Inc. (a)		519,800		15,001,428
Morgan Stanley		1,478,090		63,070,100
				109,976,451
Chemicals—2.4%
CF Industries Holdings, Inc. (a)		526,191		25,888,597
Dow, Inc.		328,602		15,657,885
DuPont de Nemours, Inc.		447,369		31,901,884
				73,448,366
Commercial Services & Supplies—0.5%
Stericycle, Inc. (a) (b)		314,621		16,023,648
Communications Equipment—1.6%
Cisco Systems, Inc.		1,006,957		49,753,745
Containers & Packaging—1.2%
International Paper Co. (a)		848,150		35,469,633
Diversified Financial Services—0.8%
AXA Equitable Holdings, Inc.		1,032,517		22,880,577
Diversified Telecommunication Services—2.0%
Verizon Communications, Inc.		1,013,053		61,147,879
Electric Utilities—5.9%
Edison International (a)		354,656		26,748,156
Evergy, Inc.		556,483		37,039,508
NextEra Energy, Inc.		177,899		41,448,688
Southern Co. (The) (a)		1,214,247		75,004,037
				180,240,389
Electronic Equipment, Instruments & Components—0.9%
TE Connectivity, Ltd.		287,994		26,835,281
Entertainment—0.3%
Walt Disney Co. (The)		74,547		9,714,965
Equity Real Estate Investment Trusts—2.0%
SL Green Realty Corp. (a)		245,700		20,085,975
Weyerhaeuser Co.		1,421,233		39,368,154
				59,454,129
Food & Staples Retailing—1.4%
Walmart, Inc.		368,062		43,681,598
Food Products—4.2%
Bunge, Ltd.		480,386		27,199,455
Conagra Brands, Inc. (a)		692,800		21,255,104
Tyson Foods, Inc. - Class A		928,796		80,006,488
				128,461,047
Health Care Equipment & Supplies—5.0%
Becton Dickinson & Co.		101,312		25,627,883
Hologic, Inc. (b)		557,718		28,159,182
Medtronic plc		673,808		73,189,025
Zimmer Biomet Holdings, Inc.		172,500		23,679,075
				150,655,165
Health Care Providers & Services—1.6%
CVS Health Corp.		767,661		48,416,379
Hotels, Restaurants & Leisure—1.3%
Carnival Corp.		488,013		21,331,048
Las Vegas Sands Corp.		320,268		18,498,680
				39,829,728
Household Products—1.6%
Kimberly-Clark Corp.		342,513		48,653,972

BHFTI-347

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Industrial Conglomerates—2.0%
General Electric Co.		6,671,049	$	59,639,178
Insurance—7.0%
American International Group, Inc. (a)		1,380,545		76,896,357
Chubb, Ltd.		517,668		83,572,322
Loews Corp. (a)		255,160		13,135,637
Marsh & McLennan Cos., Inc. (a)		380,929		38,111,946
				211,716,262
IT Services—0.5%
Cognizant Technology Solutions Corp. - Class A		228,900		13,794,659
Leisure Products—0.2%
Mattel, Inc. (a) (b)		486,255		5,538,445
Life Sciences Tools & Services—0.6%
Thermo Fisher Scientific, Inc.		61,075		17,789,315
Machinery—0.8%
Illinois Tool Works, Inc. (a)		161,551		25,281,116
Media—2.9%
Comcast Corp. - Class A		889,519		40,099,517
Fox Corp. - Class B		886,054		27,946,143
News Corp. - Class A (a)		1,438,936		20,029,989
				88,075,649
Multi-Utilities—0.9%
CenterPoint Energy, Inc.		434,250		13,105,665
Sempra Energy		94,600		13,963,906
				27,069,571
Multiline Retail—0.3%
Kohl’s Corp. (a)		170,564		8,470,208
Oil, Gas & Consumable Fuels—8.4%
EQT Corp. (a)		404,540		4,304,305
Equitrans Midstream Corp. (a)		335,062		4,875,152
Exxon Mobil Corp.		741,716		52,372,567
Occidental Petroleum Corp.		842,061		37,446,453
Pioneer Natural Resources Co.		181,700		22,852,409
TC Energy Corp. (a)		1,112,339		57,608,037
Total S.A. (ADR)		1,474,280		76,662,560
				256,121,483
Pharmaceuticals—5.1%
Johnson & Johnson		459,591		59,461,884
Merck & Co., Inc.		210,550		17,724,099
Perrigo Co. plc (a)		440,219		24,603,840
Pfizer, Inc.		1,468,795		52,773,804
				154,563,627
Professional Services—0.5%
Nielsen Holdings plc (a)		761,800		16,188,250
Semiconductors & Semiconductor Equipment—4.5%
Applied Materials, Inc.		785,127		39,177,837
QUALCOMM, Inc.		770,956		58,808,524
Texas Instruments, Inc.		290,003		37,479,988
				135,466,349
Software—2.7%
Microsoft Corp.		593,679		82,539,191
Tobacco—1.4%
Philip Morris International, Inc.		556,553		42,259,069
Total Common Stocks (Cost $2,549,851,386)				2,923,620,652
Convertible Preferred Stocks—1.5%
Electric Utilities—0.4%
Southern Co. (The) 6.750%, 08/01/22		246,505		13,190,483
Health Care Equipment & Supplies—0.2%
Becton Dickinson & Co. 6.125%, 05/01/20		112,517		6,965,927
Multi-Utilities—0.9%
Sempra Energy
6.000%, 01/15/21		177,718		21,006,268
6.750%, 07/15/21 (a)		45,416		5,343,646
				26,349,914
Total Convertible Preferred Stocks (Cost $40,363,317)				46,506,324
Short-Term Investment—1.8%
Mutual Fund—1.8%
T. Rowe Price Treasury Reserve Fund (c)		55,654,555		55,654,555
Total Short-Term Investments (Cost $55,654,555)				55,654,555
Securities Lending Reinvestments (d)—8.7%
Certificates of Deposit—4.9%
Banco Del Estado De Chile New York 2.222%, 1M LIBOR + 0.180%, 10/09/19 (e)		7,000,000		7,000,000
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (e)		5,000,000		4,999,605
Bank of Montreal (Chicago) 2.070%, SOFR + 0.250%, 07/10/20 (e)		2,000,000		2,000,136

BHFTI-348

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Bank of Nova Scotia
2.198%, 1M LIBOR + 0.170%, 05/15/20 (e)		3,000,000	$	2,998,674
2.481%, 3M LIBOR + 0.170%, 01/09/20 (e)		5,000,000		5,002,085
Canadian Imperial Bank of Commerce 2.278%, 1M LIBOR + 0.250%, 10/15/19 (e)		12,000,000		12,000,408
China Construction Bank Corp.
2.470%, 10/18/19		2,000,000		2,000,254
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (e)		4,000,000		3,998,360
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (e)		10,000,000		10,000,190
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (e)		12,000,000		12,001,716
Credit Industriel et Commercial 2.393%, 3M LIBOR + 0.090%, 10/15/19 (e)		5,000,000		5,000,525
Credit Suisse AG 2.219%, 1M LIBOR + 0.130%, 11/04/19 (e)		5,000,000		4,999,600
DZ Bank AG Zero Coupon, 10/18/19		4,969,899		4,994,750
KBC Bank NV
Zero Coupon, 10/25/19		4,935,000		4,993,273
2.220%, 12/03/19		5,000,000		5,001,200
Mitsubishi UFJ Trust and Banking Corp.
Zero Coupon, 11/18/19		994,288		997,180
2.226%, 1M LIBOR + 0.180%, 01/23/20 (e)		4,000,000		3,999,948
Mizuho Bank, Ltd.
Zero Coupon, 10/23/19		2,982,242		2,995,980
2.174%, 1M LIBOR + 0.120%, 11/27/19 (e)		7,000,000		6,999,867
Norinchukin Bank, New York Zero Coupon, 10/09/19		1,988,162		1,998,940
Royal Bank of Canada New York 2.060%, SOFR + 0.240%, 07/08/20 (e)		2,000,000		1,999,840
Societe Generale 2.280%, FEDEFF PRV + 0.450%, 08/14/20 (e)		5,000,714		5,002,595
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (e)		2,000,000		1,999,740
2.216%, 1M LIBOR + 0.170%, 01/21/20 (e)		2,000,000		1,999,972
2.234%, 1M LIBOR + 0.180%, 01/27/20 (e)		4,000,000		3,999,724
Svenska Handelsbanken AB
2.247%, 1M LIBOR + 0.180%, 06/05/20 (e)		3,000,000		2,998,590
2.266%, 1M LIBOR + 0.220%, 07/22/20 (e)		5,000,000		4,998,460
2.344%, 1M LIBOR + 0.300%, 10/31/19 (e)		3,000,000		3,000,432
2.429%, 1M LIBOR + 0.380%, 12/10/19 (e)		2,000,000		2,000,804
Wells Fargo Bank N.A. 2.180%, FEDEFF PRV + 0.350%, 08/20/20 (e)		3,000,000		3,000,000
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (e)		12,000,000		11,999,957
				146,982,805
Commercial Paper—1.6%
Bank of China, Ltd. 2.470%, 10/11/19		8,946,895		8,993,601
Cafco LLC 2.120%, 10/31/19		1,992,580		1,996,362
Commercial Paper—(Continued)
China Construction Bank Corp.
2.470%, 10/18/19		993,756		998,858
2.500%, 10/01/19		3,000,000		3,000,024
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (e)		10,000,000		10,001,620
LMA S.A. & LMA Americas, Corp. 2.610%, 10/03/19		3,946,930		3,999,284
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (e)		5,000,000		5,000,140
Sumitomo Mitsui Trust Bank, Ltd. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (e)		6,000,000		5,999,232
Thunder Bay Funding LLC
2.167%, 1M LIBOR + 0.100%, 12/05/19 (e)		2,000,000		1,999,800
Toronto-Dominion Bank 2.417%, 1M LIBOR + 0.350%, 11/05/19 (e)		3,000,000		3,000,447
Westpac Banking Corp. 2.194%, 1M LIBOR + 0.150%, 05/29/20 (e)		3,999,506		3,997,956
				48,987,324
Repurchase Agreements—1.5%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,011,602; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $15,093,150; collateralized by various Common Stock with an aggregate market value of $16,501,694.		15,000,000		15,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $8,016,878; collateralized by various Common Stock with an aggregate market value of $8,800,000.		8,000,000		8,000,000
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $2,505,274; collateralized by various Common Stock with an aggregate market value of $2,750,000.		2,500,000		2,500,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,100,073; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,122,001.		1,100,000		1,100,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,000,067; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,020,000.		1,000,000		1,000,000

BHFTI-349

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $4,487,323; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $4,576,840.		4,487,098	$	4,487,098
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,300,072; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,446,903.		1,300,000		1,300,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $3,100,170; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,444,292.		3,100,000		3,100,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $2,700,149; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,999,867.		2,700,000		2,700,000
				46,187,098
Time Deposits—0.7%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		10,000,000		10,000,000
Time Deposits—(Continued)
Nordea Bank New York 1.760%, 10/01/19		10,000,000		10,000,000
				20,000,000
Total Securities Lending Reinvestments (Cost $262,152,850)				262,157,227
Total Investments—108.3% (Cost $2,908,022,108)				3,287,938,758
Other assets and liabilities (net)—(8.3)%				(251,872,872	)
Net Assets—100.0%			$	3,036,065,886

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $257,576,754 and the collateral received consisted of cash in the amount of $261,937,071. 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 September 30, 2019.
(e)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-350

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	2,923,620,652	$	—		$	—	$	2,923,620,652
Total Convertible Preferred Stocks*		46,506,324		—			—		46,506,324
Total Short-Term Investment*		55,654,555		—			—		55,654,555
Total Securities Lending Reinvestments*		—		262,157,227			—		262,157,227
Total Investments	$	3,025,781,531	$	262,157,227		$	—	$	3,287,938,758
Collateral for Securities Loaned (Liability)	$	—	$	(261,937,071	)	$	—	$	(261,937,071	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-351

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—93.4% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.9%
BWX Technologies, Inc. (a)		155,000	$	8,867,550
L3Harris Technologies, Inc.		133,000		27,749,120
Textron, Inc.		533,000		26,095,680
				62,712,350
Airlines—0.8%
Alaska Air Group, Inc.		72,000		4,673,520
United Airlines Holdings, Inc. (b)		96,000		8,487,360
				13,160,880
Auto Components—1.3%
Aptiv plc		186,000		16,260,120
Visteon Corp. (a) (b)		67,000		5,530,180
				21,790,300
Banks—0.9%
Fifth Third Bancorp		240,000		6,571,200
Webster Financial Corp.		159,000		7,452,330
				14,023,530
Biotechnology—3.0%
Alkermes plc (b)		364,000		7,101,640
Alnylam Pharmaceuticals, Inc. (a) (b)		58,000		4,664,360
Argenx SE (ADR) (b)		24,000		2,735,040
Ascendis Pharma A/S (ADR) (b)		21,000		2,022,720
Exact Sciences Corp. (a) (b)		63,000		5,693,310
Incyte Corp. (b)		89,000		6,606,470
Neurocrine Biosciences, Inc. (a) (b)		63,000		5,676,930
Sage Therapeutics, Inc. (a) (b)		24,000		3,366,960
Sarepta Therapeutics, Inc. (b)		25,000		1,883,000
Seattle Genetics, Inc. (a) (b)		101,807		8,694,318
				48,444,748
Building Products—0.2%
Allegion plc		37,000		3,835,050
Capital Markets—3.2%
Cboe Global Markets, Inc.		122,000		14,019,020
KKR & Co., Inc. - Class A		337,000		9,048,450
MarketAxess Holdings, Inc. (a)		19,000		6,222,500
TD Ameritrade Holding Corp. (a)		418,000		19,520,600
Tradeweb Markets, Inc. - Class A		74,000		2,736,520
				51,547,090
Chemicals—1.8%
Air Products & Chemicals, Inc.		48,000		10,649,280
RPM International, Inc.		207,000		14,243,670
Valvoline, Inc. (a)		221,000		4,868,630
				29,761,580
Commercial Services & Supplies—0.5%
Waste Connections, Inc.		85,000		7,820,000
Construction Materials—0.6%
Martin Marietta Materials, Inc. (a)		36,000		9,867,600
Consumer Finance—0.2%
SLM Corp. (a)		352,000		3,106,400
Containers & Packaging—3.3%
Avery Dennison Corp. (a)		91,658		10,409,599
Ball Corp.		448,000		32,618,880
Sealed Air Corp. (a)		241,000		10,003,910
				53,032,389
Diversified Consumer Services—0.7%
ServiceMaster Global Holdings, Inc. (b)		192,000		10,732,800
Electric Utilities—0.6%
Eversource Energy (a)		119,000		10,170,930
Electrical Equipment—1.3%
Sensata Technologies Holding plc (a) (b)		410,000		20,524,600
Electronic Equipment, Instruments & Components—3.4%
Cognex Corp. (a)		66,000		3,242,580
Corning, Inc. (a)		484,000		13,803,680
FLIR Systems, Inc.		86,000		4,522,740
Keysight Technologies, Inc. (a) (b)		243,000		23,631,750
National Instruments Corp.		220,000		9,237,800
				54,438,550
Food & Staples Retailing—1.5%
Casey’s General Stores, Inc.		92,000		14,826,720
Kroger Co. (The)		122,000		3,145,160
Sprouts Farmers Market, Inc. (a) (b)		295,000		5,705,300
				23,677,180
Food Products—1.0%
Conagra Brands, Inc. (a)		207,000		6,350,760
TreeHouse Foods, Inc. (a) (b)		168,000		9,315,600
				15,666,360
Gas Utilities—0.4%
Atmos Energy Corp.		53,000		6,036,170
Health Care Equipment & Supplies—8.1%
Alcon, Inc. (b)		133,000		7,752,570
Cooper Cos., Inc. (The)		107,000		31,779,000
Hologic, Inc. (b)		618,000		31,202,820
ICU Medical, Inc. (a) (b)		39,000		6,224,400
IDEXX Laboratories, Inc. (b)		18,000		4,894,740
Teleflex, Inc.		114,000		38,731,500
West Pharmaceutical Services, Inc.		72,514		10,283,935
				130,868,965
Health Care Providers & Services—0.6%
Acadia Healthcare Co., Inc. (a) (b)		241,000		7,490,280

BHFTI-352

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services —(Continued)
MEDNAX, Inc. (a) (b)		73,000	$	1,651,260
				9,141,540
Health Care Technology—0.1%
Veeva Systems, Inc. - Class A (b)		15,000		2,290,350
Hotels, Restaurants & Leisure—5.5%
Darden Restaurants, Inc.		43,000		5,083,460
Dunkin’ Brands Group, Inc. (a)		122,000		9,681,920
Hilton Worldwide Holdings, Inc.		121,000		11,266,310
Marriott International, Inc. - Class A		73,000		9,079,010
MGM Resorts International		669,000		18,544,680
Norwegian Cruise Line Holdings, Ltd. (b)		413,000		21,381,010
Vail Resorts, Inc.		60,000		13,653,600
				88,689,990
Industrial Conglomerates—1.1%
Roper Technologies, Inc.		49,000		17,473,400
Insurance—4.0%
Assurant, Inc.		97,000		12,204,540
Axis Capital Holdings, Ltd.		96,000		6,405,120
Fidelity National Financial, Inc.		389,000		17,275,490
Progressive Corp. (The)		61,000		4,712,250
Willis Towers Watson plc		121,000		23,349,370
				63,946,770
Interactive Media & Services—1.5%
IAC/InterActiveCorp (b)		111,000		24,194,670
Internet & Direct Marketing Retail—0.0%
Chewy, Inc. - Class A (a) (b)		27,000		663,660
IT Services—6.6%
Black Knight, Inc. (b)		132,000		8,059,920
CoreLogic, Inc. (b)		299,000		13,834,730
Fidelity National Information Services, Inc.		121,000		16,063,960
Fiserv, Inc. (b)		193,000		19,992,870
FleetCor Technologies, Inc. (b)		63,000		18,067,140
Gartner, Inc. (b)		49,000		7,006,510
Global Payments, Inc. (a)		140,000		22,260,000
Shopify, Inc. - Class A (b)		3,000		934,980
				106,220,110
Life Sciences Tools & Services—4.1%
Agilent Technologies, Inc.		340,000		26,054,200
Avantor, Inc. (b)		562,000		8,261,400
Bruker Corp. (a)		454,000		19,944,220
PRA Health Sciences, Inc. (b)		122,000		12,106,060
				66,365,880
Machinery—4.8%
Colfax Corp. (a) (b)		398,000		11,565,880
Fortive Corp.		217,000		14,877,520
Gardner Denver Holdings, Inc. (b)		602,000		17,030,580
Machinery—(Continued)
IDEX Corp.		121,000		19,829,480
Xylem, Inc. (a)		181,000		14,411,220
				77,714,680
Metals & Mining—0.4%
Franco-Nevada Corp.		24,000		2,187,840
Kirkland Lake Gold, Ltd. (a)		112,000		5,017,600
				7,205,440
Multi-Utilities—1.1%
Sempra Energy		121,000		17,860,810
Multiline Retail—2.5%
Dollar General Corp.		155,000		24,635,700
Dollar Tree, Inc. (b)		134,000		15,297,440
				39,933,140
Oil, Gas & Consumable Fuels—2.3%
Cabot Oil & Gas Corp.		293,000		5,148,010
Concho Resources, Inc.		242,000		16,431,800
Continental Resources, Inc. (a) (b)		142,000		4,372,180
Pioneer Natural Resources Co.		67,000		8,426,590
Venture Global LNG, Inc. - Series B (b) (c) (d) (e)		78		405,600
Venture Global LNG, Inc. - Series C (b) (c) (d) (e)		540		2,808,000
				37,592,180
Pharmaceuticals—2.6%
Amneal Pharmaceuticals, Inc. (b)		248,000		719,200
Catalent, Inc. (a) (b)		389,000		18,539,740
Elanco Animal Health, Inc. (b)		400,000		10,636,000
Perrigo Co. plc		206,000		11,513,340
				41,408,280
Professional Services—4.5%
Clarivate Analytics plc (a) (b)		310,842		5,243,905
CoStar Group, Inc. (b)		24,000		14,236,800
Equifax, Inc.		39,000		5,486,130
IHS Markit, Ltd. (a) (b)		182,000		12,172,160
TransUnion		206,000		16,708,660
Verisk Analytics, Inc.		121,000		19,134,940
				72,982,595
Real Estate Management & Development—0.0%
WeWork Cos., Inc. - Class A (b) (c) (d) (e)		15,741		268,069
Road & Rail—0.9%
J.B. Hunt Transport Services, Inc. (a)		134,000		14,827,100
Semiconductors & Semiconductor Equipment—5.1%
Entegris, Inc.		151,000		7,106,060
Marvell Technology Group, Ltd.		666,000		16,630,020
Maxim Integrated Products, Inc.		194,000		11,234,540
Microchip Technology, Inc. (a)		282,000		26,200,620
Skyworks Solutions, Inc.		121,000		9,589,250

BHFTI-353

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Semiconductors & Semiconductor Equipment—(Continued)
Xilinx, Inc.		117,000	$	11,220,300
				81,980,790
Software—4.8%
Atlassian Corp. plc - Class A (b)		87,000		10,913,280
Ceridian HCM Holding, Inc. (b)		171,040		8,444,245
DocuSign, Inc. (b)		182,000		11,269,440
Slack Technologies, Inc. - Class A (a) (b)		135,144		3,206,967
Splunk, Inc. (b)		98,000		11,550,280
SS&C Technologies Holdings, Inc.		108,000		5,569,560
Symantec Corp.		360,987		8,530,123
Workday, Inc. - Class A (a) (b)		109,000		18,525,640
				78,009,535
Specialty Retail—2.9%
Burlington Stores, Inc. (b)		97,000		19,382,540
CarMax, Inc. (a) (b)		72,000		6,336,000
Michaels Cos., Inc. (The) (a) (b)		109,000		1,067,110
O’Reilly Automotive, Inc. (b)		24,000		9,564,240
Tiffany & Co. (a)		49,000		4,538,870
Ulta Salon Cosmetics & Fragrance, Inc. (b)		22,000		5,514,300
				46,403,060
Textiles, Apparel & Luxury Goods—1.3%
Levi Strauss & Co. - Class A (a) (b)		150,000		2,856,000
Tapestry, Inc.		474,000		12,347,700
VF Corp.		61,000		5,428,390
				20,632,090
Total Common Stocks (Cost $1,063,842,732)				1,507,021,611
Convertible Preferred Stocks—0.4%
Internet & Direct Marketing Retail—0.2%
Roofoods, Ltd., Series F (b) (c) (d) (e)		7,253		2,818,879
Roofoods, Ltd., Series G (b) (c) (d) (e)		169		70,625
				2,889,504
Real Estate Management & Development—0.2%
WeWork Cos., Inc.- Series D1 (b) (c) (d) (e)		89,839		1,529,958
WeWork Cos., Inc.- Series D2 (b) (c) (d) (e)		70,588		1,202,114
				2,732,072
Total Convertible Preferred Stocks (Cost $5,306,368)				5,621,576
Short-Term Investment—6.2%
Mutual Fund—6.2%
T. Rowe Price Treasury Reserve Fund (f)		100,304,125		100,304,125
Total Short-Term Investments (Cost $100,304,125)				100,304,125
Securities Lending Reinvestments (g)—15.2%
Security Description	Principal Amount*		Value
Certificates of Deposit—10.0%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000	$	2,000,320
Banco Del Estado De Chile New York
2.206%, 1M LIBOR + 0.160%, 11/22/19 (h)		4,000,000		3,999,780
2.222%, 1M LIBOR + 0.180%, 10/09/19 (h)		3,000,000		3,000,000
Banco Santander S.A. 2.192%, 1M LIBOR + 0.150%, 11/07/19 (h)		5,000,000		4,999,605
Bank of Montreal (Chicago)
2.070%, SOFR + 0.250%, 07/10/20 (h)		2,000,000		2,000,136
2.150%, 1M LIBOR + 0.100%, 10/11/19 (h)		2,000,000		1,999,964
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (h)		6,000,000		5,997,348
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (h)		4,000,000		3,997,208
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (h)		2,000,000		2,000,370
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (h)		1,000,000		1,000,005
2.278%, 1M LIBOR + 0.250%, 10/15/19 (h)		5,000,000		5,000,170
Chiba Bank, Ltd. 2.270%, 10/08/19		3,000,000		3,000,084
China Construction Bank Corp. 2.470%, 10/18/19		2,000,000		2,000,254
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (h)		5,000,000		4,997,950
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (h)		3,000,000		3,000,057
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (h)		7,000,000		7,001,001
Credit Industriel et Commercial
2.227%, 1M LIBOR + 0.160%, 03/05/20 (h)		5,000,000		4,998,745
2.393%, 3M LIBOR + 0.090%, 10/15/19 (h)		4,000,000		4,000,420
DNB Bank ASA 2.020%, 03/10/20		2,000,000		1,999,572
DZ Bank AG
Zero Coupon, 10/18/19		2,981,939		2,996,850
Zero Coupon, 03/10/20		1,979,188		1,981,580
KBC Bank NV
Zero Coupon, 10/25/19		4,935,000		4,993,273
2.080%, 03/12/20		2,000,000		2,000,200
2.220%, 12/03/19		2,000,000		2,000,480
Mizuho Bank, Ltd.
Zero Coupon, 10/23/19		1,988,162		1,997,320
2.174%, 1M LIBOR + 0.120%, 11/27/19 (h)		4,000,000		3,999,924
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (h)		5,000,000		4,999,485
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (h)		1,000,000		999,840
Norinchukin Bank, New York Zero Coupon, 10/09/19		994,081		999,470
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (h)		4,000,000		3,999,600
Royal Bank of Canada New York
2.060%, SOFR + 0.240%, 07/08/20 (h)		3,000,000		2,999,760
2.110%, SOFR + 0.290%, 07/16/20 (h)		4,000,000		4,001,260

BHFTI-354

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Societe Generale
2.180%, FEDEFF PRV + 0.350%, 06/19/20 (h)		3,000,000	$	2,999,559
2.337%, 1M LIBOR + 0.280%, 06/19/20 (h)		3,000,000		3,003,546
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (h)		4,000,000		4,000,068
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (h)		7,000,000		6,999,965
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (h)		2,000,000		1,999,988
Sumitomo Mitsui Banking Corp.
2.172%, 1M LIBOR + 0.130%, 12/09/19 (h)		3,000,000		2,999,610
2.234%, 1M LIBOR + 0.180%, 01/27/20 (h)		3,000,000		2,999,793
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 10/17/19		1,973,515		1,998,020
2.184%, 1M LIBOR + 0.140%, 11/20/19 (h)		2,000,000		1,999,960
Svenska Handelsbanken AB
2.247%, 1M LIBOR + 0.180%, 06/05/20 (h)		2,000,000		1,999,060
2.344%, 1M LIBOR + 0.300%, 10/31/19 (h)		4,000,000		4,000,576
2.429%, 1M LIBOR + 0.380%, 12/10/19 (h)		5,000,000		5,002,010
Wells Fargo Bank N.A. 2.180%, FEDEFF PRV + 0.350%, 08/20/20 (h)		7,000,000		7,000,000
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (h)		10,000,000		9,999,964
				161,964,150
Commercial Paper—2.7%
Agricultural Bank of China 2.295%, 12/11/19		994,263		995,388
Bank of China, Ltd.
2.290%, 12/09/19		1,988,550		1,990,894
2.470%, 10/11/19		5,964,597		5,995,734
Cafco LLC 2.120%, 10/31/19		1,992,580		1,996,362
China Construction Bank Corp.
2.470%, 10/18/19		993,756		998,858
2.500%, 10/01/19		3,000,000		3,000,024
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (h)		10,000,000		10,001,620
Kells Funding LLC 2.260%, 10/28/19		1,987,068		1,996,959
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (h)		2,000,000		2,001,114
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (h)		2,000,000		2,000,056
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (h)		6,000,000		5,999,232
UBS AG 2.286%, 1M LIBOR + 0.240%, 01/27/20 (h)		4,000,000		4,000,000
Westpac Banking Corp. 2.194%, 1M LIBOR + 0.150%, 05/29/20 (h)		1,999,753		1,998,978
				42,975,219
Repurchase Agreements—2.5%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $3,721,464; collateralized by various Common Stock with an aggregate market value of $4,070,001.		3,700,000		3,700,000
Repurchase Agreements—(Continued)
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $3,521,735; collateralized by various Common Stock with an aggregate market value of $3,850,395.		3,500,000		3,500,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $5,010,549; collateralized by various Common Stock with an aggregate market value of $5,500,000.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $6,012,658; collateralized by various Common Stock with an aggregate market value of $6,600,000.		6,000,000		6,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $900,060; collateralized by U.S. Treasury and U.S. Government Agency Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $918,000.		900,000		900,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $800,053; collateralized by U.S. Treasury and U.S. Government Agency Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $816,000.		800,000		800,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $1,416,922; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $1,445,188.		1,416,851		1,416,851
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $4,047,927; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $4,390,674.		4,000,000		4,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,000,055; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,113,002.		1,000,000		1,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $2,600,142; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,888,761.		2,600,000		2,600,000

BHFTI-355

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $2,200,121; collateralized by U.S. Government Agency Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,444,336.		2,200,000	$	2,200,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $10,003,889; collateralized by Foreign Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $11,110,619.		10,000,000		10,000,000
				41,116,851
Total Securities Lending Reinvestments (Cost $246,055,138)				246,056,220
Total Investments—115.2% (Cost $1,415,508,363)				1,859,003,532
Other assets and liabilities (net)—(15.2)%				(245,140,916	)
Net Assets—100.0%			$	1,613,862,616

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $242,494,375 and the collateral received consisted of cash in the amount of $245,889,302. 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 September 30, 2019, these securities represent 0.6% 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 September 30, 2019, the market value of restricted securities was $9,103,245, which is 0.6% 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 September 30, 2019.
(h)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ADR)— American Depositary Receipt

Restricted Securities	Acquisition Date		Shares		Cost		Value
Roofoods, Ltd. - Series F		09/12/17		7,253	$	2,564,447	$	2,818,879
Roofoods, Ltd. Series G		05/06/19		169		70,625		70,625
Venture Global LNG, Inc. - Series B		03/08/18		78		235,560		405,600
Venture Global LNG, Inc. - Series C		10/16/17 - 03/08/18		540		1,987,525		2,808,000
WeWork Cos., Inc. - Class A		12/09/14 - 05/26/15		15,741		223,069		268,069
WeWork Cos., Inc. - Series D1		12/09/14		89,839		1,495,924		1,529,958
WeWork Cos., Inc. - Series D2		12/09/14		70,588		1,175,372		1,202,114
							$	9,103,245

BHFTI-356

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	62,712,350	$	—	$	—	$	62,712,350
Airlines		13,160,880		—		—		13,160,880
Auto Components		21,790,300		—		—		21,790,300
Banks		14,023,530		—		—		14,023,530
Biotechnology		48,444,748		—		—		48,444,748
Building Products		3,835,050		—		—		3,835,050
Capital Markets		51,547,090		—		—		51,547,090
Chemicals		29,761,580		—		—		29,761,580
Commercial Services & Supplies		7,820,000		—		—		7,820,000
Construction Materials		9,867,600		—		—		9,867,600
Consumer Finance		3,106,400		—		—		3,106,400
Containers & Packaging		53,032,389		—		—		53,032,389
Diversified Consumer Services		10,732,800		—		—		10,732,800
Electric Utilities		10,170,930		—		—		10,170,930
Electrical Equipment		20,524,600		—		—		20,524,600
Electronic Equipment, Instruments & Components		54,438,550		—		—		54,438,550
Food & Staples Retailing		23,677,180		—		—		23,677,180
Food Products		15,666,360		—		—		15,666,360
Gas Utilities		6,036,170		—		—		6,036,170
Health Care Equipment & Supplies		130,868,965		—		—		130,868,965
Health Care Providers & Services		9,141,540		—		—		9,141,540
Health Care Technology		2,290,350		—		—		2,290,350
Hotels, Restaurants & Leisure		88,689,990		—		—		88,689,990
Industrial Conglomerates		17,473,400		—		—		17,473,400
Insurance		63,946,770		—		—		63,946,770
Interactive Media & Services		24,194,670		—		—		24,194,670
Internet & Direct Marketing Retail		663,660		—		—		663,660
IT Services		106,220,110		—		—		106,220,110
Life Sciences Tools & Services		66,365,880		—		—		66,365,880
Machinery		77,714,680		—		—		77,714,680
Metals & Mining		7,205,440		—		—		7,205,440
Multi-Utilities		17,860,810		—		—		17,860,810
Multiline Retail		39,933,140		—		—		39,933,140
Oil, Gas & Consumable Fuels		34,378,580		—		3,213,600		37,592,180
Pharmaceuticals		41,408,280		—		—		41,408,280
Professional Services		72,982,595		—		—		72,982,595
Real Estate Management & Development		—		—		268,069		268,069
Road & Rail		14,827,100		—		—		14,827,100
Semiconductors & Semiconductor Equipment		81,980,790		—		—		81,980,790
Software		78,009,535		—		—		78,009,535

BHFTI-357

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Specialty Retail	$	46,403,060	$	—		$	—	$	46,403,060
Textiles, Apparel & Luxury Goods		20,632,090		—			—		20,632,090
Total Common Stocks		1,503,539,942		—			3,481,669		1,507,021,611
Total Convertible Preferred Stocks*		—		—			5,621,576		5,621,576
Total Short-Term Investment*		100,304,125		—			—		100,304,125
Total Securities Lending Reinvestments*		—		246,056,220			—		246,056,220
Total Investments	$	1,603,844,067	$	246,056,220		$	9,103,245	$	1,859,003,532
Collateral for Securities Loaned (Liability)	$	—	$	(245,889,302	)	$	—	$	(245,889,302	)

* See Schedule of Investments for additional detailed categorizations.

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, 2018		Realized Gain		Change in Unrealized Depreciation			Purchases		Sales			Transfers out of Level 3			Balance as of September 30, 2019		Change in Unrealized Depreciation from Investments Held at September 30, 2019
Common Stocks
Oil, Gas & Consumable Fuels	$	3,213,600	$	—	$	—		$	—	$	—		$	—		$	3,213,600	$	—
Real Estate Management & Development		1,781,642		731,146		(1,237,781	)				(1,006,938	)		—			268,069		(1,237,781	)
Convertible Preferred Stocks
Internet & Direct Marketing Retail		3,698,522		—		(879,643	)		70,625		—			—			2,889,504		(879,644	)
Real Estate Management & Development		8,311,723		—		(5,579,651	)		—		—			—			2,732,072		(5,579,651	)
Software		1,144,623		—		—			—		—			(1,144,623	)		—		—
	$	18,150,110	$	731,146	$	(7,697,075	)	$	70,625	$	(1,006,938	)	$	(1,144,623	)	$	9,103,245	$	(7,697,076	)

BHFTI-358

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—63.3% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—34.2%
Fannie Mae 15 Yr. Pool 3.000%, 06/01/32		1,615,659	$	1,654,494
Fannie Mae 30 Yr. Pool
3.000%, 07/01/45		16,787,441		17,281,847
3.500%, 01/01/48		11,295,174		11,702,802
3.500%, 02/01/48		7,108,067		7,372,635
4.000%, 06/01/47		5,357,494		5,630,137
4.500%, 02/01/46		4,074,652		4,379,399
4.500%, 05/01/48		17,031,922		17,984,461
4.500%, 08/01/48		3,402,575		3,594,615
Fannie Mae Pool
2.950%, 05/01/31		4,146,245		4,393,871
3.030%, 03/01/31		1,032,277		1,096,648
3.210%, 11/01/37		5,464,393		5,871,339
3.320%, 08/01/26		1,895,000		2,037,170
3.450%, 05/01/34		4,065,000		4,484,893
3.490%, 02/01/33		4,000,000		4,483,032
3.500%, 01/01/44		5,915,996		6,200,734
3.580%, 03/01/27		2,745,381		3,004,462
3.690%, 05/01/30		8,760,000		9,844,711
4.000%, 08/01/42		1,076,605		1,145,950
Fannie Mae REMICS (CMO)
3.500%, 01/25/47		15,939,508		16,592,648
3.500%, 06/25/47		6,650,951		6,911,390
Freddie Mac 15 Yr. Gold Pool
2.500%, 12/01/31		5,842,605		5,922,945
2.500%, 07/01/32		3,890,410		3,930,482
3.000%, 03/01/31		2,101,910		2,160,031
3.000%, 06/01/33		830,043		851,166
3.500%, 11/01/33		5,485,611		5,675,499
3.500%, 01/01/34		7,109,552		7,435,040
Freddie Mac 30 Yr. Gold Pool
3.000%, 06/01/46		7,935,430		8,134,173
3.000%, 09/01/46		3,121,127		3,203,637
3.000%, 10/01/46		9,561,184		9,801,071
3.000%, 11/01/46		12,617,162		12,933,741
3.000%, 01/01/47		14,240,762		14,598,073
3.000%, 02/01/47		1,829,114		1,872,842
3.000%, 01/01/48		3,160,299		3,231,310
3.500%, 04/01/45		5,873,889		6,221,657
3.500%, 11/01/45		1,144,873		1,194,161
3.500%, 06/01/46		4,201,027		4,379,475
3.500%, 08/01/46		3,644,631		3,814,903
3.500%, 04/01/47		14,495,896		15,272,912
3.500%, 12/01/47		16,473,515		17,356,581
3.500%, 01/01/48		23,947,538		25,363,311
3.500%, 03/01/48		44,063,693		46,192,147
4.000%, 01/01/45		4,669,919		5,003,098
4.000%, 12/01/45		10,876,663		11,622,453
4.000%, 03/01/48		978,501		1,045,254
4.000%, 06/01/48		1,536,779		1,627,474
4.000%, 11/01/48		1,822,341		1,942,824
4.000%, 01/01/49		9,260,212		9,798,044
4.500%, 10/01/48		7,957,870		8,375,947
5.000%, 06/01/48		2,020,742		2,167,954
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
5.000%, 08/01/48		380,098		407,314
5.000%, 10/01/48		4,221,495		4,527,774
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 3.750%, 04/25/33		5,465,000		6,243,132
Freddie Mac REMICS (CMO) 3.000%, 04/15/48		4,240,668		4,317,640
Ginnie Mae II 30 Yr. Pool
3.000%, 10/20/46		2,884,281		2,974,414
3.000%, 12/20/46		8,817,050		9,092,248
3.000%, 04/20/47		1,674,974		1,726,150
3.000%, 11/20/47		10,503,589		10,800,584
3.000%, TBA (a)		30,925,000		31,708,997
3.500%, 04/20/46		6,372,002		6,665,669
3.500%, 05/20/46		2,897,389		3,026,086
3.500%, 06/20/46		654,803		683,363
3.500%, 11/20/46		9,537,382		9,956,956
3.500%, 01/20/47		1,704,671		1,774,280
3.500%, 09/20/47		4,013,972		4,176,156
3.500%, 11/20/47		14,290,443		14,846,826
3.500%, 12/20/47		8,138,293		8,453,295
3.500%, 02/20/48		11,633,995		12,062,187
4.000%, 11/20/47		4,150,676		4,333,714
4.000%, 12/20/47		3,870,583		4,039,311
4.000%, 03/20/48		3,372,335		3,525,827
4.000%, 10/20/48		7,092,488		7,375,827
4.500%, 02/20/47		5,827,157		6,171,382
4.500%, 06/20/47		10,848,158		11,402,395
5.000%, 06/20/47		4,835,202		5,192,659
5.000%, 09/20/47		2,984,945		3,204,954
Government National Mortgage Association (CMO) 3.500%, 09/20/48		4,051,702		4,193,177
Uniform Mortgage-Backed Securities
3.000%, TBA (a)		70,925,000		71,961,170
5.000%, TBA (a)		2,600,000		2,787,078
				634,426,008
U.S. Treasury—29.1%
U.S. Treasury Bonds
2.250%, 08/15/49		57,424,000		59,117,559
2.875%, 05/15/49 (b)		11,594,000		13,533,278
U.S. Treasury Inflation Indexed Bond 1.000%, 02/15/49 (b) (c)		19,771,308		22,372,457
U.S. Treasury Inflation Indexed Notes
0.125%, 07/15/24 (c)		2,679,590		2,678,484
0.250%, 07/15/29 (b) (c)		20,264,208		20,476,680
0.500%, 04/15/24 (b) (c)		17,232,046		17,453,334
U.S. Treasury Notes
1.250%, 08/31/24 (b)		123,819,000		122,101,978
1.500%, 08/31/21 (b)		30,632,000		30,541,061
1.500%, 09/30/21		21,375,000		21,322,397
1.500%, 09/30/24		131,160,000		130,847,471
1.625%, 06/30/21 (b)		21,580,000		21,554,711
1.625%, 08/15/29 (b)		36,858,000		36,698,186
1.750%, 06/30/24		16,785,000		16,929,902

BHFTI-359

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes
1.750%, 07/31/24 (b)		24,526,000	$	24,747,309
				540,374,807
Total U.S. Treasury & Government Agencies (Cost $1,157,371,523)				1,174,800,815
Corporate Bonds & Notes—24.3%
Aerospace/Defense—0.2%
BAE Systems Holdings, Inc. 3.850%, 12/15/25 (144A)		1,500,000		1,577,366
L3Harris Technologies, Inc. 4.400%, 06/15/28 (144A) (b)		2,235,000		2,505,523
				4,082,889
Agriculture—0.4%
BAT Capital Corp.
4.390%, 08/15/37		830,000		805,829
4.540%, 08/15/47		920,000		883,264
4.758%, 09/06/49		1,880,000		1,834,843
Reynolds American, Inc.
5.850%, 08/15/45		1,805,000		1,998,480
6.875%, 05/01/20		1,000,000		1,026,160
				6,548,576
Airlines—0.3%
America West Airlines Pass-Through Trust
7.100%, 04/02/21 (b)		453,503		467,088
8.057%, 07/02/20		375,894		390,926
American Airlines Pass-Through Trust
4.000%, 07/15/25		1,135,618		1,195,919
4.950%, 01/15/23		496,609		520,546
U.S. Airways Pass-Through Trust
6.250%, 04/22/23		1,619,815		1,761,387
7.076%, 03/20/21		848,670		889,491
				5,225,357
Auto Manufacturers—1.4%
Daimler Finance North America LLC
2.000%, 07/06/21 (144A)		1,845,000		1,834,089
2.200%, 10/30/21 (144A)		2,835,000		2,828,051
Ford Motor Credit Co. LLC
2.459%, 03/27/20		3,000,000		2,996,467
3.220%, 3M LIBOR + 0.880%, 10/12/21 (d)		2,205,000		2,167,453
3.339%, 03/28/22		2,155,000		2,157,761
5.596%, 01/07/22		4,986,000		5,238,565
8.125%, 01/15/20		4,175,000		4,244,045
General Motors Co. 4.875%, 10/02/23		3,330,000		3,574,665
General Motors Financial Co., Inc. 3.200%, 07/13/20		860,000		864,727
				25,905,823
Banks—3.2%
Bank of America Corp.
2.738%, 3M LIBOR + 0.370%, 01/23/22 (d)		1,673,000		1,682,672
3.004%, 3M LIBOR + 0.790%, 12/20/23 (d)		6,478,000		6,616,046
4.271%, 3M LIBOR + 1.310%, 07/23/29 (d)		1,780,000		1,983,795
Goldman Sachs Group, Inc. (The)
3.272%, 3M LIBOR + 1.201%, 09/29/25 (d)		3,350,000		3,457,665
3.691%, 3M LIBOR + 1.510%, 06/05/28 (d)		995,000		1,044,608
3.814%, 3M LIBOR + 1.158%, 04/23/29 (d)		2,230,000		2,364,180
JPMorgan Chase & Co.
3.559%, 3M LIBOR + 0.730%, 04/23/24 (d)		2,323,000		2,423,205
4.023%, 3M LIBOR + 1.000%, 12/05/24 (d)		4,570,000		4,874,940
Lloyds Bank plc 3.300%, 05/07/21		3,065,000		3,117,800
Lloyds Banking Group plc
2.858%, 3M LIBOR + 1.249%, 03/17/23 (d)		2,795,000		2,804,018
2.907%, 3M LIBOR + 0.810%, 11/07/23 (d)		2,515,000		2,519,986
Morgan Stanley
3.208%, 3M LIBOR + 0.930%, 07/22/22 (d)		4,300,000		4,332,719
3.875%, 01/27/26		2,010,000		2,156,564
Santander UK Group Holdings plc 3.571%, 01/10/23		1,200,000		1,217,185
Santander UK plc 3.400%, 06/01/21		4,745,000		4,827,163
Wells Fargo & Co.
2.600%, 07/22/20		5,175,000		5,199,382
3.550%, 09/29/25 (b)		2,095,000		2,216,388
Wells Fargo Bank N.A. 2.082%, 3M LIBOR + 0.650%, 09/09/22 (b) (d)		6,260,000		6,245,075
				59,083,391
Beverages—0.5%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 4.900%, 02/01/46		5,514,000		6,559,442
Bacardi, Ltd.
4.700%, 05/15/28 (144A)		1,105,000		1,207,101
5.300%, 05/15/48 (144A)		1,105,000		1,266,720
				9,033,263
Biotechnology—0.6%
Amgen, Inc. 4.400%, 05/01/45		3,525,000		3,966,822
Biogen, Inc. 5.200%, 09/15/45		1,100,000		1,304,904
Celgene Corp. 5.000%, 08/15/45		4,250,000		5,332,467
				10,604,193
Chemicals—0.2%
International Flavors & Fragrances, Inc. 5.000%, 09/26/48 (b)		2,555,000		2,917,690
Commercial Services—0.2%
IHS Markit, Ltd.
4.750%, 02/15/25 (144A)		1,000,000		1,085,000

BHFTI-360

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
IHS Markit, Ltd.
4.750%, 08/01/28		1,500,000	$	1,667,250
5.000%, 11/01/22 (144A)		1,535,000		1,635,038
				4,387,288
Diversified Financial Services—1.8%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.500%, 05/15/21		3,380,000		3,489,327
Air Lease Corp. 3.500%, 01/15/22		3,500,000		3,589,820
GE Capital International Funding Co.
2.342%, 11/15/20		9,130,000		9,107,775
4.418%, 11/15/35		11,760,000		12,335,193
Park Aerospace Holdings, Ltd.
4.500%, 03/15/23 (144A)		2,820,000		2,918,136
5.500%, 02/15/24 (144A)		810,000		875,124
Raymond James Financial, Inc. 4.950%, 07/15/46		1,635,000		1,954,760
				34,270,135
Electric—2.6%
Appalachian Power Co.
3.300%, 06/01/27		760,000		794,769
4.450%, 06/01/45		1,440,000		1,677,527
Duke Energy Carolinas LLC 4.250%, 12/15/41		2,300,000		2,654,255
Duke Energy Florida LLC 2.100%, 12/15/19		421,250		421,145
Duke Energy Progress LLC
4.100%, 05/15/42		1,000,000		1,139,365
4.100%, 03/15/43		2,325,000		2,625,601
Duquesne Light Holdings, Inc. 6.400%, 09/15/20 (144A)		3,250,000		3,365,015
El Paso Electric Co. 3.300%, 12/15/22		825,000		829,249
Entergy Corp. 4.000%, 07/15/22		3,000,000		3,131,280
FirstEnergy Transmission LLC 4.350%, 01/15/25 (144A)		3,430,000		3,700,737
International Transmission Co. 4.625%, 08/15/43		2,750,000		3,236,258
Kansas City Power & Light Co. 4.200%, 03/15/48		2,250,000		2,636,850
MidAmerican Energy Co. 4.800%, 09/15/43		905,000		1,134,605
NextEra Energy Capital Holdings, Inc. 2.767%, 3M LIBOR + 0.480%, 05/04/21 (d)		6,600,000		6,610,150
PacifiCorp 3.350%, 07/01/25 (b)		2,000,000		2,095,428
Pennsylvania Electric Co.
3.250%, 03/15/28 (144A)		570,000		587,620
4.150%, 04/15/25 (144A)		2,800,000		2,966,890
Public Service Co. of New Mexico 3.850%, 08/01/25 (b)		3,135,000		3,267,708
Southwestern Electric Power Co. 4.100%, 09/15/28 (b)		3,000,000		3,322,525
Electric—(Continued)
Xcel Energy, Inc. 3.300%, 06/01/25		2,375,000		2,478,405
				48,675,382
Food—1.2%
Campbell Soup Co. 2.619%, 3M LIBOR + 0.500%, 03/16/20 (d)		3,250,000		3,250,137
Kraft Heinz Foods Co.
3.000%, 06/01/26		750,000		742,060
3.950%, 07/15/25 (b)		3,825,000		4,004,202
4.875%, 10/01/49 (144A)		3,685,000		3,719,028
5.000%, 06/04/42		1,765,000		1,820,678
5.200%, 07/15/45		3,380,000		3,555,143
Kroger Co. (The) 5.400%, 01/15/49		2,065,000		2,445,881
Mondelez International Holdings Netherlands B.V. 2.866%, 3M LIBOR + 0.610%, 10/28/19 (144A) (d)		3,400,000		3,401,734
				22,938,863
Gas—0.3%
Southern Co. Gas Capital Corp. 3.250%, 06/15/26		4,000,000		4,124,258
Spire, Inc. 4.700%, 08/15/44 (b)		1,000,000		1,166,302
				5,290,560
Healthcare-Products—0.2%
Becton Dickinson & Co.
2.894%, 06/06/22		1,720,000		1,746,257
2.979%, 3M LIBOR + 0.875%, 12/29/20 (d)		2,250,000		2,250,752
				3,997,009
Healthcare-Services—1.6%
Aetna, Inc. 2.800%, 06/15/23		2,000,000		2,025,451
Anthem, Inc.
3.650%, 12/01/27		2,235,000		2,352,055
3.700%, 09/15/49		1,000,000		970,048
Cigna Holding Co. 3.050%, 10/15/27 (b)		3,350,000		3,409,446
Hartford HealthCare Corp. 5.746%, 04/01/44		1,000,000		1,287,146
HCA, Inc.
5.000%, 03/15/24		2,000,000		2,184,111
5.125%, 06/15/39		995,000		1,088,162
5.250%, 04/15/25 (b)		1,000,000		1,112,368
5.250%, 06/15/49		3,200,000		3,513,504
Humana, Inc. 3.950%, 08/15/49		2,000,000		1,993,333
New York and Presbyterian Hospital (The) 3.563%, 08/01/36		4,490,000		4,767,863
NYU Hospitals Center 4.428%, 07/01/42		1,756,000		2,073,429

BHFTI-361

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
Providence St. Joseph Health Obligated Group 2.746%, 10/01/26		1,015,000	$	1,021,472
UnitedHealth Group, Inc. 4.250%, 04/15/47		1,995,000		2,273,281
				30,071,669
Insurance—0.4%
Farmers Exchange Capital III 5.454%, 3M LIBOR + 3.454%, 10/15/54 (144A) (b) (d)		3,530,000		4,067,367
Teachers Insurance & Annuity Association of America 4.375%, 3M LIBOR + 2.661%, 09/15/54 (144A) (d)		3,500,000		3,663,726
				7,731,093
Media—0.7%
CBS Corp. 3.700%, 06/01/28		2,703,000		2,817,931
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 6.484%, 10/23/45		715,000		871,224
Comcast Corp.
4.400%, 08/15/35		1,500,000		1,750,833
4.600%, 10/15/38		2,380,000		2,851,871
Time Warner Cable LLC 5.875%, 11/15/40		4,375,000		4,895,380
				13,187,239
Miscellaneous Manufacturing—0.6%
General Electric Co.
2.200%, 01/09/20		5,000,000		4,994,037
4.625%, 01/07/21		3,330,000		3,416,463
5.500%, 01/08/20		2,000,000		2,015,530
5.550%, 05/04/20		1,600,000		1,623,003
				12,049,033
Oil & Gas—0.8%
Hess Corp. 5.800%, 04/01/47		1,000,000		1,151,137
Noble Energy, Inc. 5.050%, 11/15/44		1,050,000		1,146,068
Occidental Petroleum Corp.
3.500%, 08/15/29		767,000		778,768
4.500%, 07/15/44		620,000		630,808
Petroleos Mexicanos
5.350%, 02/12/28		1,045,000		998,633
6.500%, 01/23/29		5,235,000		5,313,263
6.625%, 06/15/35		1,045,000		1,021,226
6.750%, 09/21/47		3,228,000		3,098,235
7.690%, 01/23/50 (144A) (b)		1,605,000		1,673,694
				15,811,832
Packaging & Containers—0.3%
Amcor Finance USA, Inc.
3.625%, 04/28/26 (144A)		2,625,000		2,701,024
4.500%, 05/15/28 (144A) (b)		450,000		490,506
Packaging & Containers—(Continued)
WRKCo, Inc. 4.900%, 03/15/29 (b)		1,790,000		2,024,413
				5,215,943
Pharmaceuticals—1.8%
AbbVie, Inc.
4.400%, 11/06/42		1,100,000		1,135,161
4.450%, 05/14/46		1,038,000		1,075,855
4.875%, 11/14/48		600,000		662,355
Allergan Finance LLC 3.250%, 10/01/22 (b)		1,435,000		1,466,082
Allergan Funding SCS 4.550%, 03/15/35		775,000		823,250
Bayer U.S. Finance LLC
4.375%, 12/15/28 (144A) (b)		7,735,000		8,353,825
4.400%, 07/15/44 (144A)		1,205,000		1,216,844
4.625%, 06/25/38 (144A) (b)		1,000,000		1,082,416
4.875%, 06/25/48 (144A)		1,130,000		1,249,045
Cigna Corp.
4.375%, 10/15/28		2,500,000		2,740,670
4.900%, 12/15/48		2,500,000		2,859,575
CVS Health Corp.
3.875%, 07/20/25		1,950,000		2,065,698
5.050%, 03/25/48		6,585,000		7,488,676
5.125%, 07/20/45		1,200,000		1,367,394
				33,586,846
Pipelines—1.3%
Enbridge Energy Partners L.P. 5.875%, 10/15/25		850,000		990,196
Energy Transfer Operating L.P.
5.150%, 03/15/45		3,355,000		3,518,195
6.500%, 02/01/42		700,000		839,461
Kinder Morgan, Inc. 3.050%, 12/01/19		921,000		921,513
Plains All American Pipeline L.P. / PAA Finance Corp. 4.650%, 10/15/25		2,340,000		2,503,563
Rockies Express Pipeline LLC 4.950%, 07/15/29 (144A)		3,000,000		2,986,226
Ruby Pipeline LLC 6.000%, 04/01/22 (144A) (b)		3,939,394		4,080,868
Sabine Pass Liquefaction LLC 5.625%, 03/01/25		538,000		604,611
TC PipeLines L.P. 4.650%, 06/15/21		3,840,000		3,955,723
Texas Eastern Transmission L.P. 2.800%, 10/15/22 (144A)		3,275,000		3,304,225
				23,704,581
Real Estate Investment Trusts—1.6%
American Campus Communities Operating Partnership L.P.
3.750%, 04/15/23		1,500,000		1,562,042
4.125%, 07/01/24		2,750,000		2,942,418

BHFTI-362

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—(Continued)
GLP Capital L.P. / GLP Financing II, Inc.
4.000%, 01/15/30		1,250,000	$	1,256,213
5.300%, 01/15/29		2,180,000		2,402,818
5.375%, 04/15/26		3,160,000		3,479,950
5.750%, 06/01/28		2,000,000		2,274,980
HCP, Inc.
4.000%, 12/01/22		658,000		688,995
4.250%, 11/15/23		1,509,000		1,611,022
Healthcare Realty Trust, Inc. 3.750%, 04/15/23		1,850,000		1,910,579
Healthcare Trust of America Holdings L.P. 3.500%, 08/01/26		1,885,000		1,943,218
Life Storage L.P. 3.875%, 12/15/27 (b)		2,500,000		2,640,540
SL Green Operating Partnership L.P. 3.250%, 10/15/22		2,038,000		2,079,189
Ventas Realty L.P.
3.125%, 06/15/23		590,000		606,350
3.250%, 10/15/26		2,500,000		2,566,571
Welltower, Inc. 3.750%, 03/15/23		1,000,000		1,047,028
				29,011,913
Retail—0.3%
Alimentation Couche-Tard, Inc. 3.550%, 07/26/27 (144A)		2,750,000		2,859,338
Walgreens Boots Alliance, Inc.
3.450%, 06/01/26 (b)		1,100,000		1,137,191
4.800%, 11/18/44 (b)		1,975,000		2,087,933
				6,084,462
Savings & Loans—0.1%
Nationwide Building Society
3.622%, 3M LIBOR + 1.181%, 04/26/23 (144A) (d)		1,425,000		1,452,756
3.766%, 3M LIBOR + 1.064%, 03/08/24 (144A) (d)		100,000		102,694
				1,555,450
Semiconductors—0.2%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.000%, 01/15/22		1,860,000		1,878,049
Broadcom, Inc. 3.125%, 10/15/22 (144A)		1,000,000		1,012,590
				2,890,639
Telecommunications—1.5%
AT&T, Inc.
4.800%, 06/15/44		1,825,000		2,023,917
4.850%, 03/01/39		1,368,000		1,550,643
5.250%, 03/01/37		6,665,000		7,847,604
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC
3.360%, 09/20/21 (144A)		500,000		501,875
4.738%, 03/20/25 (144A) (b)		5,475,000		5,819,980
5.152%, 03/20/28 (144A) (b)		1,000,000		1,085,000
Telecommunications—(Continued)
Verizon Communications, Inc. 5.250%, 03/16/37		1,855,000		2,305,532
Vodafone Group plc
3.750%, 01/16/24 (b)		2,190,000		2,309,031
4.875%, 06/19/49		2,200,000		2,451,208
5.250%, 05/30/48		1,500,000		1,738,861
				27,633,651
Total Corporate Bonds & Notes (Cost $425,171,888)				451,494,770
Asset-Backed Securities—9.8%
Asset-Backed - Home Equity—1.7%
Asset Backed Securities Corp. Home Equity Loan Trust 2.178%, 1M LIBOR + 0.160%, 05/25/36 (d)		1,744,747		1,735,767
Asset-Backed Funding Certificates Trust
2.158%, 1M LIBOR + 0.140%, 09/25/36 (d)		4,170,946		4,097,171
2.648%, 1M LIBOR + 0.630%, 03/25/35 (d)		2,383,393		2,385,349
JPMorgan Mortgage Acquisition Corp. 2.723%, 1M LIBOR + 0.705%, 06/25/35 (d)		4,624,101		4,633,894
MASTR Asset-Backed Securities Trust 2.618%, 1M LIBOR + 0.600%, 01/25/36 (d)		2,405,000		2,408,913
New Century Home Equity Loan Trust 2.798%, 1M LIBOR + 0.780%, 08/25/34 (d)		8,650,296		8,640,387
Option One Mortgage Loan Trust 2.678%, 1M LIBOR + 0.660%, 05/25/35 (d)		2,329,638		2,333,465
Option One Mortgage Loan Trust Asset-Backed Certificates 2.458%, 1M LIBOR + 0.440%, 11/25/35 (d)		4,576,198		4,582,080
				30,817,026
Asset-Backed - Other—2.7%
Ameriquest Mortgage Securities Trust 2.408%, 1M LIBOR + 0.390%, 03/25/36 (d)		2,334,047		2,330,852
AMMC CLO 19, Ltd. 3.803%, 3M LIBOR + 1.500%, 10/15/28 (144A) (d)		4,000,000		4,000,500
Atrium XII 3.108%, 3M LIBOR + 0.830%, 04/22/27 (144A) (d)		5,200,000		5,199,745
Dryden 71 CLO, Ltd. 3.453%, 3M LIBOR + 1.150%, 01/15/29 (144A) (d)		1,600,000		1,600,035
GSAMP Trust 2.698%, 1M LIBOR + 0.680%, 10/25/34 (d)		4,130,925		4,105,801
LCM XIII LP 3.325%, 3M LIBOR + 1.140%, 07/19/27 (144A) (d)		4,700,000		4,697,758
Morgan Stanley ABS Capital I, Inc. Trust 2.438%, 1M LIBOR + 0.420%, 11/25/35 (d)		5,000,000		4,979,917
Riserva CLO, Ltd. 3.440%, 3M LIBOR + 1.140%, 10/18/28 (144A) (d)		4,600,000		4,601,596
Structured Asset Investment Loan Trust 2.818%, 1M LIBOR + 0.800%, 07/25/34 (d)		2,806,798		2,781,292
Structured Asset Securities Corp. Mortgage Loan Trust 2.738%, 1M LIBOR + 0.720%, 07/25/35 (d)		3,394,990		3,398,906

BHFTI-363

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Towd Point Mortgage Trust
2.500%, 11/25/60 (144A) (d)		3,174,000	$	3,164,756
2.750%, 10/25/56 (144A) (d)		8,413,382		8,490,025
				49,351,183
Asset-Backed - Student Loan—5.4%
Navient Student Loan Trust
3.068%, 1M LIBOR + 1.050%, 07/26/66 (144A) (d)		5,600,000		5,617,398
3.518%, 1M LIBOR + 1.500%, 10/25/58 (d)		2,470,000		2,435,169
Nelnet Student Loan Trust 3.039%, 1M LIBOR + 0.870%, 09/26/67 (144A) (d)		4,600,000		4,604,028
SLC Student Loan Trust
2.279%, 3M LIBOR + 0.160%, 09/15/39 (d)		11,000,000		10,587,482
2.279%, 3M LIBOR + 0.160%, 03/15/55 (d)		8,310,000		7,854,332
SLM Student Loan Trust
2.336%, 3M LIBOR + 0.060%, 01/25/22 (d)		9,503,582		9,241,259
2.606%, 3M LIBOR + 0.330%, 01/25/22 (d)		3,637,385		3,544,969
2.646%, 3M LIBOR + 0.370%, 01/25/40 (d)		4,096,732		3,758,598
2.768%, 1M LIBOR + 0.750%, 05/26/26 (d)		6,639,443		6,548,180
2.768%, 1M LIBOR + 0.750%, 01/25/45 (144A) (d)		3,314,548		3,301,166
2.826%, 3M LIBOR + 0.550%, 10/25/64 (144A) (d)		5,700,000		5,606,062
3.026%, 3M LIBOR + 0.750%, 10/25/40 (d)		10,240,000		10,124,620
3.319%, 3M LIBOR + 1.200%, 12/15/33 (144A) (d)		5,035,285		4,986,461
3.376%, 3M LIBOR + 1.100%, 07/25/23 (d)		6,861,854		6,836,851
3.776%, 3M LIBOR + 1.500%, 04/25/23 (d)		3,194,756		3,213,606
3.818%, 1M LIBOR + 1.800%, 09/25/43 (d)		5,800,000		5,696,663
Wachovia Student Loan Trust 2.446%, 3M LIBOR + 0.170%, 04/25/40 (144A) (d)		7,247,296		6,994,635
				100,951,479
Total Asset-Backed Securities (Cost $177,323,376)				181,119,688
Mortgage-Backed Securities—5.3%
Collateralized Mortgage Obligations—3.6%
Banc of America Funding Trust 2.500%, 03/25/40 (144A) (d)		6,571,426		6,540,948
BCAP LLC Trust 2.325%, 1M LIBOR + 0.180%, 05/26/36 (144A) (d)		637,317		641,674
CIM Trust 3.750%, 07/25/58 (144A) (d)		8,312,732		8,415,468
Citigroup Mortgage Loan Trust, Inc. 2.382%, 1M LIBOR + 0.210%, 05/20/47 (144A) (d)		267,793		268,081
Credit Suisse Mortgage Trust
2.506%, 1M LIBOR + 0.000%, 04/27/47 (144A) (d)		1,396,729		1,375,971
3.403%, 09/27/46 (144A) (d)		2,132,100		2,108,495
3.850%, 09/25/57 (144A) (d)		9,394,517		9,753,313
4.171%, 01/27/36 (144A) (d)		308,849		311,452
GS Mortgage-Backed Securities Trust 3.750%, 10/25/57 (144A)		8,652,687		9,004,167
Morgan Stanley Resecuritization Trust
3.044%, 1M LIBOR + 0.450%, 08/26/47 (144A) (d)		2,876,151		2,855,497
3.996%, 01/26/51 (144A) (d)		100,641		100,471
4.030%, 08/26/47 (144A) (d)		5,073,572		5,114,745
Collateralized Mortgage Obligations—(Continued)
Nomura Resecuritization Trust
2.125%, 1M LIBOR + 0.426%, 02/25/37 (144A) (d)		1,695,848		1,670,757
2.445%, 1M LIBOR + 0.300%, 08/26/37 (144A) (d)		1,393,685		1,386,027
2.665%, 11/26/35 (144A) (d)		4,008,029		3,991,497
4.120%, 03/26/37 (144A) (d)		1,339,002		1,348,201
Structured Adjustable Rate Mortgage Loan Trust 2.693%, 1M LIBOR + 0.675%, 01/25/35 (d)		1,086,487		1,081,611
WaMu Mortgage Pass-Through Certificates Trust
2.308%, 1M LIBOR + 0.290%, 10/25/45 (d)		4,564,349		4,527,218
4.505%, 06/25/34 (d)		7,009,589		7,123,036
				67,618,629
Commercial Mortgage-Backed Securities—1.7%
BAMLL Commercial Mortgage Securities Trust 4.227%, 08/10/38 (144A) (d)		3,265,000		3,689,039
BB-UBS Trust 3.430%, 11/05/36 (144A)		2,160,000		2,273,915
CALI Mortgage Trust 3.957%, 03/10/39 (144A)		2,200,000		2,468,347
CGRBS Commercial Mortgage Trust 3.369%, 03/13/35 (144A)		2,190,000		2,298,769
Commercial Mortgage Trust
3.545%, 02/10/36 (144A)		1,865,000		1,985,142
3.732%, 08/10/49 (144A) (d)		1,810,000		1,927,342
4.353%, 08/10/30 (144A)		1,845,000		1,976,438
Core Industrial Trust 3.040%, 02/10/34 (144A)		2,125,024		2,170,160
Hudson Yards Mortgage Trust 3.228%, 07/10/39 (144A)		1,875,000		1,989,921
JPMorgan Chase Commercial Mortgage Securities Trust 3.397%, 06/05/39 (144A)		2,000,000		2,153,553
Morgan Stanley Capital Trust 3.350%, 07/13/29 (144A)		1,600,000		1,627,964
One Bryant Park Trust 2.516%, 09/13/49 (144A)		2,390,000		2,402,616
RBS Commercial Funding, Inc. Trust
3.961%, 01/15/32 (144A) (d)		2,475,000		2,619,299
SFAVE Commercial Mortgage Securities Trust 3.872%, 01/05/43 (144A) (d)		1,519,000		1,636,051
				31,218,556
Total Mortgage-Backed Securities (Cost $96,091,703)				98,837,185
Municipals—0.5%
New York City Transitional Finance Authority, Future Tax Secured Revenue
4.200%, 11/01/30		1,250,000		1,422,638
5.267%, 05/01/27		2,150,000		2,563,552
New York City Water & Sewer System Revenue, Build America Bond 6.011%, 06/15/42		1,300,000		1,954,472

BHFTI-364

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Municipals—(Continued)

Security Description	Shares/ Principal Amount*		Value
New York City, General Obligation Unlimited, Build America Bond 5.968%, 03/01/36		1,750,000	$	2,387,998
Total Municipals (Cost $7,690,877)				8,328,660
Short-Term Investments—3.6%
Mutual Fund—3.5%
State Street Institutional Liquid Reserves Fund Trust Class, 1.932% (e)		64,606,495		64,612,955
U.S. Treasury—0.1%
U.S. Treasury Bill 1.898%, 12/26/19 (f) (g)		1,980,000		1,971,542
Total Short-Term Investments (Cost $66,584,039)				66,584,497
Securities Lending Reinvestments (h)—13.0%
Certificates of Deposit—8.1%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000		2,000,320
Banco Del Estado De Chile New York
2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		7,000,000		6,999,615
2.222%, 1M LIBOR + 0.180%, 10/09/19 (d)		5,000,000		5,000,000
Bank of Montreal (Chicago)
1.990%, SOFR + 0.170%, 02/07/20 (d)		2,000,000		2,000,422
2.070%, SOFR + 0.250%, 07/10/20 (d)		1,000,000		1,000,068
2.150%, 1M LIBOR + 0.100%, 10/11/19 (d)		5,000,000		4,999,910
Bank of Nova Scotia 2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		5,000,000		4,997,790
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		10,000,000		9,993,020
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,370
Canadian Imperial Bank of Commerce 2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		5,000,000		5,000,170
Chiba Bank, Ltd.
2.270%, 10/08/19		8,000,000		8,000,224
2.320%, 10/09/19		3,000,000		3,000,132
China Construction Bank Corp. 2.470%, 10/18/19		2,000,000		2,000,254
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		5,000,000		4,997,950
Credit Industriel et Commercial 2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		5,000,000		5,000,525
Credit Suisse AG
2.219%, 1M LIBOR + 0.130%, 11/04/19 (d)		5,000,000		4,999,600
2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		7,000,000		7,000,000
DNB Bank ASA 2.020%, 03/10/20		1,000,000		999,786
Certificates of Deposit—(Continued)
KBC Bank NV
Zero Coupon, 10/25/19		6,909,000		6,990,583
2.080%, 03/12/20		1,000,000		1,000,100
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 11/18/19		1,988,577		1,994,360
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		5,000,000		4,999,485
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		3,000,000		2,999,520
Norinchukin Bank, New York Zero Coupon, 10/09/19		994,081		999,470
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (d)		5,000,000		4,999,500
Societe Generale 2.280%, FEDEFF PRV + 0.450%, 08/14/20 (d)		5,000,714		5,002,595
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		4,000,000		4,000,068
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		5,000,000		4,999,975
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 10/25/19		1,973,614		1,997,100
2.184%, 1M LIBOR + 0.140%, 11/20/19 (d)		5,000,000		4,999,900
Svenska Handelsbanken AB 2.247%, 1M LIBOR + 0.180%, 06/05/20 (d)		3,000,000		2,998,590
Toronto-Dominion Bank 2.180%, FEDEFF PRV + 0.350%, 07/31/20 (d)		5,500,000		5,496,749
Wells Fargo Bank N.A.
2.180%, FEDEFF PRV + 0.350%, 08/20/20 (d)		5,000,000		5,000,000
2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		5,000,000		5,001,165
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		7,000,000		6,999,975
				150,469,291
Commercial Paper—1.8%
Agricultural Bank of China 2.295%, 12/11/19		994,263		995,388
Bank of China, Ltd.
2.290%, 12/09/19		3,977,100		3,981,788
2.470%, 10/11/19		1,988,199		1,998,578
China Construction Bank Corp. 2.500%, 10/01/19		3,000,000		3,000,024
Industrial & Commercial Bank of China, Corp. 2.470%, 10/25/19		4,968,439		4,993,180
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		10,000,000		10,001,620
LMA S.A. & LMA Americas, Corp. 2.610%, 10/03/19		1,973,465		1,999,642
Royal Bank of Canada 2.463%, 3M LIBOR + 0.160%, 01/14/20 (d)		2,000,000		2,001,114
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		5,000,000		4,999,360
				33,970,694

BHFTI-365

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—2.3%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000	$	5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $5,531,906; collateralized by various Common Stock with an aggregate market value of $6,050,001.		5,500,000		5,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $5,031,050; collateralized by various Common Stock with an aggregate market value of $5,500,565.		5,000,000		5,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $5,851,785; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $5,968,522.		5,851,492		5,851,492
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $5,059,908; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $5,488,343.		5,000,000		5,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $4,001,571; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $4,445,630.		4,000,000		4,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $4,201,633; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $4,666,460.		4,200,000		4,200,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $4,001,556; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $4,444,248.		4,000,000		4,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $5,001,944; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $5,555,310.		5,000,000		5,000,000
				43,551,492
Time Deposits—0.8%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		10,000,000		10,000,000
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
				15,000,000
Total Securities Lending Reinvestments (Cost $242,997,739)				242,991,477
Total Investments—119.8% (Cost $2,173,231,145)				2,224,157,092
Other assets and liabilities (net)—(19.8)%				(367,773,029	)
Net Assets—100.0%			$	1,856,384,063

*	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)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $236,003,347 and the collateral received consisted of cash in the amount of $242,818,943 and non-cash collateral with a value of $2,105,512. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Principal amount of security is adjusted for inflation.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.
(e)	The rate shown represents the annualized seven-day yield as of September 30, 2019.
(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 September 30, 2019, the market value of securities pledged was $1,971,541.
(h)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $232,146,656, which is 12.5% of net assets.

BHFTI-366

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
U.S. Treasury Note 2 Year Futures		12/31/19		771		USD	166,150,500	$	(406,871	)
U.S. Treasury Note 5 Year Futures		12/31/19		329		USD	39,199,836		(167,333	)
U.S. Treasury Ultra Long Bond Futures		12/19/19		71		USD	13,625,344		(72,254	)
Net Unrealized Depreciation								$	(646,458	)

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)(1)
Pay	3M LIBOR	Quarterly	2.264%	Semi-Annually		04/11/22		USD	112,995,000	$	1,766,221		$	—	$	1,766,221
Pay	3M LIBOR	Quarterly	2.283%	Semi-Annually		05/08/22		USD	39,705,000		644,744			—		644,744
Receive	3M LIBOR	Semi-Annually	2.337%	Quarterly		04/11/25		USD	46,455,000		(1,973,878	)		—		(1,973,878	)
Receive	3M LIBOR	Semi-Annually	2.370%	Quarterly		05/08/25		USD	16,265,000		(718,417	)		—		(718,417	)
Totals										$	(281,330	)	$	—	$	(281,330	)

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

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-367

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	1,174,800,815		$	—	$	1,174,800,815
Total Corporate Bonds & Notes*		—			451,494,770			—		451,494,770
Total Asset-Backed Securities*		—			181,119,688			—		181,119,688
Total Mortgage-Backed Securities*		—			98,837,185			—		98,837,185
Total Municipals*		—			8,328,660			—		8,328,660
Total Short-Term Investments*		64,612,955			1,971,542			—		66,584,497
Total Securities Lending Reinvestments*		—			242,991,477			—		242,991,477
Total Investments	$	64,612,955		$	2,159,544,137		$	—	$	2,224,157,092
Collateral for Securities Loaned (Liability)	$	—		$	(242,818,943	)	$	—	$	(242,818,943	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(646,458	)	$	—		$	—	$	(646,458	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	2,410,965		$	—	$	2,410,965
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(2,692,295	)		—		(2,692,295	)
Total Centrally Cleared Swap Contracts	$	—		$	(281,330	)	$	—	$	(281,330	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 3 to Level 2 in the amount of $1,600,026 were due to the initiation of a broker or vendor providing a price which resulted in the availability of significant observable inputs.

BHFTI-368

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—99.4% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.8%
Textron, Inc. (a)		347,125	$	16,995,240
Airlines—1.6%
Alaska Air Group, Inc. (a)		238,525		15,482,658
Auto Components—1.5%
BorgWarner, Inc.		384,838		14,115,858
Banks—4.2%
Prosperity Bancshares, Inc. (a)		230,000		16,244,900
SunTrust Banks, Inc.		183,900		12,652,320
Zions Bancorp N.A. (a)		249,100		11,089,932
				39,987,152
Building Products—1.4%
Owens Corning		217,700		13,758,640
Capital Markets—1.5%
E*Trade Financial Corp.		333,913		14,588,659
Chemicals—3.2%
Eastman Chemical Co.		278,700		20,576,421
Westlake Chemical Corp. (a)		159,100		10,424,232
				31,000,653
Commercial Services & Supplies—1.0%
Republic Services, Inc.		112,700		9,754,185
Communications Equipment—1.2%
Motorola Solutions, Inc.		69,800		11,894,618
Construction & Engineering—1.4%
Quanta Services, Inc. (a)		362,950		13,719,510
Containers & Packaging—2.9%
AptarGroup, Inc.		50,900		6,029,105
Avery Dennison Corp.		118,700		13,480,759
Packaging Corp. of America (a)		81,056		8,600,042
				28,109,906
Electric Utilities—2.7%
Alliant Energy Corp.		238,000		12,835,340
Xcel Energy, Inc. (a)		193,595		12,562,380
				25,397,720
Electrical Equipment—0.9%
Hubbell, Inc.		65,500		8,606,700
Electronic Equipment, Instruments & Components—2.6%
Coherent, Inc. (a) (b)		76,750		11,798,010
Flex, Ltd. (b)		1,264,946		13,237,660
				25,035,670
Entertainment—1.6%
Cinemark Holdings, Inc. (a)		399,030		15,418,519
Equity Real Estate Investment Trusts—7.4%
Healthcare Trust of America, Inc. - Class A		576,900		16,949,322
Highwoods Properties, Inc. (a)		311,700		14,007,798
Lamar Advertising Co. - Class A (a)		204,500		16,754,685
National Retail Properties, Inc.		184,276		10,393,166
Public Storage		52,600		12,901,202
				71,006,173
Food & Staples Retailing—3.5%
Kroger Co. (The)		701,725		18,090,471
Sysco Corp.		188,000		14,927,200
				33,017,671
Food Products—3.3%
Archer-Daniels-Midland Co.		558,732		22,947,123
Hormel Foods Corp. (a)		192,661		8,425,066
				31,372,189
Health Care Providers & Services—4.2%
AmerisourceBergen Corp.		182,925		15,060,215
Quest Diagnostics, Inc.		231,763		24,805,594
				39,865,809
Hotels, Restaurants & Leisure—2.4%
Darden Restaurants, Inc. (a)		122,900		14,529,238
Yum! Brands, Inc.		70,575		8,005,322
				22,534,560
Household Products—2.7%
Clorox Co. (The)		64,100		9,734,867
Kimberly-Clark Corp.		111,000		15,767,550
				25,502,417
Insurance—14.1%
Aflac, Inc.		188,319		9,852,850
Alleghany Corp. (b)		30,100		24,012,576
Allstate Corp. (The)		159,000		17,280,120
American Financial Group, Inc.		147,000		15,853,950
Arthur J. Gallagher & Co.		82,100		7,353,697
Everest Re Group, Ltd.		23,600		6,279,724
Fidelity National Financial, Inc.		268,460		11,922,309
Markel Corp. (a) (b)		5,568		6,580,819
Old Republic International Corp.		267,500		6,304,975
Travelers Cos., Inc. (The)		113,800		16,920,922
W.R. Berkley Corp.		170,219		12,294,918
				134,656,860
IT Services—4.9%
DXC Technology Co. (a)		236,500		6,976,750
Fidelity National Information Services, Inc.		69,800		9,266,648
Leidos Holdings, Inc.		174,000		14,943,120
MAXIMUS, Inc.		200,000		15,452,000
				46,638,518

BHFTI-369

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Leisure Products—1.2%
Hasbro, Inc.		99,547	$	11,815,233
Machinery—4.3%
AGCO Corp. (a)		190,100		14,390,570
Ingersoll-Rand plc		50,668		6,242,804
Parker-Hannifin Corp.		88,008		15,895,125
Xylem, Inc.		62,165		4,949,577
				41,478,076
Media—2.2%
CBS Corp. - Class B		262,600		10,601,162
Interpublic Group of Cos., Inc. (The)		467,737		10,084,410
				20,685,572
Metals & Mining—2.0%
Reliance Steel & Aluminum Co.		192,000		19,134,720
Multi-Utilities—1.2%
DTE Energy Co. (a)		85,232		11,332,447
Oil, Gas & Consumable Fuels—3.7%
Cimarex Energy Co.		276,100		13,236,234
Devon Energy Corp. (a)		511,418		12,304,717
Parsley Energy, Inc. - Class A (a)		583,600		9,804,480
				35,345,431
Professional Services—1.3%
ManpowerGroup, Inc. (a)		144,722		12,191,381
Road & Rail—1.8%
Landstar System, Inc. (a)		149,750		16,858,855
Semiconductors & Semiconductor Equipment—1.9%
KLA Corp.		73,700		11,751,465
Skyworks Solutions, Inc.		86,100		6,823,425
				18,574,890
Software—2.2%
Nuance Communications, Inc. (a) (b)		1,004,000		16,375,240
Synopsys, Inc. (b)		34,820		4,779,045
				21,154,285
Specialty Retail—2.5%
AutoNation, Inc. (a) (b)		217,449		11,024,664
Tiffany & Co. (a)		143,700		13,310,931
				24,335,595
Technology Hardware, Storage & Peripherals—1.1%
Hewlett Packard Enterprise Co.		700,000		10,619,000
Textiles, Apparel & Luxury Goods—2.0%
Carter’s, Inc. (a)		205,600		18,752,776
Total Common Stocks (Cost $915,103,777)				950,738,146
Short-Term Investment—0.3%
Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $2,673,787; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $2,728,982.		2,673,728		2,673,728
Total Short-Term Investments (Cost $2,673,728)				2,673,728
Securities Lending Reinvestments (c)—21.4%
Certificates of Deposit—12.4%
ABN AMRO Bank NV 2.120%, 01/10/20		2,000,000		2,000,320
Banco Del Estado De Chile New York
2.206%, 1M LIBOR + 0.160%, 11/22/19 (d)		4,000,000		3,999,780
2.222%, 1M LIBOR + 0.180%, 10/09/19 (d)		4,000,000		4,000,000
Bank of Montreal (Chicago)
2.070%, SOFR + 0.250%, 07/10/20 (d)		2,000,000		2,000,136
2.210%, FEDEFF PRV + 0.380%, 09/09/20 (d)		3,000,000		2,999,988
Bank of Nova Scotia
2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		5,000,000		4,997,790
2.200%, FEDEFF PRV + 0.370%, 09/08/20 (d)		2,000,000		1,999,992
2.481%, 3M LIBOR + 0.170%, 01/09/20 (d)		2,000,000		2,000,834
Canadian Imperial Bank of Commerce 2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		3,000,000		3,000,102
Chiba Bank, Ltd. 2.250%, 10/17/19		1,000,000		1,000,052
China Construction Bank Corp. 2.470%, 10/18/19		1,000,000		1,000,127
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		3,000,000		2,998,770
Cooperative Rabobank UA 2.439%, 3M LIBOR + 0.150%, 01/08/20 (d)		3,000,000		3,000,057
Credit Agricole S.A. 2.256%, 1M LIBOR + 0.210%, 12/20/19 (d)		7,000,000		7,001,001
Credit Industriel et Commercial 2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		2,000,000		2,000,210
Credit Suisse AG
2.219%, 1M LIBOR + 0.130%, 11/04/19 (d)		3,000,000		2,999,760
2.240%, 1M LIBOR + 0.140%, 10/02/19 (d)		6,000,000		6,000,000
DNB Bank ASA 2.020%, 03/10/20		3,000,000		2,999,358
DZ Bank AG
Zero Coupon, 10/18/19		2,981,939		2,996,850
Zero Coupon, 11/18/19		2,982,904		2,991,540

BHFTI-370

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
DZ Bank AG
Zero Coupon, 03/10/20		1,979,188	$	1,981,580
Zero Coupon, 03/17/20		1,978,693		1,980,780
KBC Bank NV 2.080%, 03/12/20		2,000,000		2,000,200
Mizuho Bank, Ltd. 2.174%, 1M LIBOR + 0.120%, 11/27/19 (d)		4,000,000		3,999,924
MUFG Bank Ltd. 2.216%, 1M LIBOR + 0.170%, 02/24/20 (d)		2,000,000		1,999,794
National Australia Bank, Ltd. 2.232%, 1M LIBOR + 0.190%, 04/08/20 (d)		2,000,000		1,999,680
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (d)		3,000,000		2,999,700
Royal Bank of Canada New York
2.060%, SOFR + 0.240%, 07/08/20 (d)		3,000,000		2,999,760
2.110%, SOFR + 0.290%, 07/16/20 (d)		2,000,000		2,000,630
Societe Generale 2.280%, FEDEFF PRV + 0.450%, 08/14/20 (d)		3,000,428		3,001,557
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		4,000,000		4,000,068
2.180%, FEDEFF PRV + 0.350%, 02/26/20 (d)		2,000,000		1,999,990
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (d)		2,000,000		1,999,988
Sumitomo Mitsui Banking Corp.
2.179%, 1M LIBOR + 0.140%, 11/12/19 (d)		2,000,000		1,999,900
2.216%, 1M LIBOR + 0.170%, 01/21/20 (d)		1,000,000		999,986
2.234%, 1M LIBOR + 0.180%, 01/27/20 (d)		4,000,000		3,999,724
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 02/18/20		3,956,257		3,967,720
Svenska Handelsbanken AB
2.266%, 1M LIBOR + 0.220%, 07/22/20 (d)		4,000,000		3,998,768
2.344%, 1M LIBOR + 0.300%, 10/31/19 (d)		4,000,000		4,000,576
Wells Fargo Bank N.A. 2.477%, 3M LIBOR + 0.210%, 10/25/19 (d)		2,000,000		2,000,466
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		3,000,000		2,999,989
				118,917,447
Commercial Paper—3.1%
Agricultural Bank of China 2.295%, 12/11/19		1,988,525		1,990,776
Bank of China, Ltd.
2.290%, 12/09/19		3,977,100		3,981,788
2.470%, 10/11/19		3,976,398		3,997,156
Cafco LLC 2.120%, 10/31/19		996,290		998,181
China Construction Bank Corp.
2.470%, 10/18/19		993,756		998,858
2.500%, 10/01/19		1,000,000		1,000,008
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		6,000,000		6,000,972
Sheffield Receivables Co. 2.000%, SOFR + 0.180%, 12/03/19 (d)		3,000,000		3,000,084
Sumitomo Mitsui Banking Corp. 2.187%, 1M LIBOR + 0.130%, 01/06/20 (d)		4,000,000		3,999,488
Commercial Paper—(Continued)
Westpac Banking Corp. 2.194%, 1M LIBOR + 0.150%, 05/29/20 (d)		3,999,506		3,997,956
				29,965,267
Repurchase Agreements—4.6%
BofA Securities, Inc.
Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $5,000,267; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $2,514,503; collateralized by various Common Stock with an aggregate market value of $2,750,000.		2,500,000		2,500,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $5,031,050; collateralized by various Common Stock with an aggregate market value of $5,500,565.		5,000,000		5,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $3,006,329; collateralized by various Common Stock with an aggregate market value of $3,300,000.		3,000,000		3,000,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $5,574,843; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $5,685,946.		5,574,455		5,574,455
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $5,059,908; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $5,488,343.		5,000,000		5,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $15,005,833; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $16,665,929.		15,000,000		15,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $3,001,167; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,333,186.		3,000,000		3,000,000
				44,074,455

BHFTI-371

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—1.3%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		5,000,000	$	5,000,000
Nordea Bank New York 1.760%, 10/01/19		5,000,000		5,000,000
Shizuoka Bank, Ltd. 2.250%, 10/18/19		2,000,000		2,000,000
				12,000,000
Total Securities Lending Reinvestments (Cost $204,958,607)				204,957,169
Total Investments—121.1% (Cost $1,122,736,112)				1,158,369,043
Other assets and liabilities (net)—(21.1)%				(202,007,877	)
Net Assets—100.0%			$	956,361,166

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $201,460,062 and the collateral received consisted of cash in the amount of $204,885,440. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing 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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	950,738,146	$	—		$	—	$	950,738,146
Total Short-Term Investment*		—		2,673,728			—		2,673,728
Total Securities Lending Reinvestments*		—		204,957,169			—		204,957,169
Total Investments	$	950,738,146	$	207,630,897		$	—	$	1,158,369,043
Collateral for Securities Loaned (Liability)	$	—	$	(204,885,440	)	$	—	$	(204,885,440	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-372

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—96.3% of Net Assets

Security Description	Shares		Value
Auto Components—1.1%
Aptiv plc		64,810	$	5,665,690
Banks—6.0%
Fifth Third Bancorp		314,979		8,624,125
PacWest Bancorp		177,326		6,444,027
Regions Financial Corp.		565,870		8,952,063
Zions Bancorp N.A. (a)		131,161		5,839,288
				29,859,503
Beverages—2.1%
Molson Coors Brewing Co. - Class B (a)		182,054		10,468,105
Building Products—1.6%
A.O. Smith Corp. (a)		57,714		2,753,535
Masco Corp.		24,564		1,023,827
Owens Corning (a)		64,918		4,102,818
				7,880,180
Capital Markets—1.0%
Northern Trust Corp. (a)		55,725		5,200,257
Chemicals—2.0%
PPG Industries, Inc.		82,354		9,759,773
Commercial Services & Supplies—2.4%
Republic Services, Inc.		139,049		12,034,691
Construction & Engineering—2.9%
Jacobs Engineering Group, Inc. (a)		156,133		14,286,169
Containers & Packaging—3.8%
International Paper Co.		121,685		5,088,867
Packaging Corp. of America (a)		65,509		6,950,505
Sealed Air Corp.		163,320		6,779,413
				18,818,785
Electric Utilities—3.8%
American Electric Power Co., Inc.		136,936		12,829,534
FirstEnergy Corp.		130,683		6,302,841
				19,132,375
Energy Equipment & Services—2.0%
Baker Hughes a GE Co.		174,185		4,041,092
National Oilwell Varco, Inc. (a)		225,357		4,777,568
Patterson-UTI Energy, Inc. (a)		139,359		1,191,520
				10,010,180
Equity Real Estate Investment Trusts—5.6%
American Campus Communities, Inc.		162,640		7,819,731
Invitation Homes, Inc.		320,362		9,485,919
Mid-America Apartment Communities, Inc.		56,246		7,312,543
Park Hotels & Resorts, Inc.		125,589		3,135,957
				27,754,150
Food Products—1.0%
Lamb Weston Holdings, Inc.		69,294		5,039,060
Health Care Equipment & Supplies—6.4%
Alcon, Inc. (b)		138,333		8,063,431
STERIS plc (a)		37,406		5,404,793
Varian Medical Systems, Inc. (b)		83,543		9,949,136
Zimmer Biomet Holdings, Inc.		60,335		8,282,185
				31,699,545
Health Care Providers & Services—3.1%
Humana, Inc.		38,361		9,807,757
Universal Health Services, Inc. - Class B (a)		36,666		5,454,067
				15,261,824
Hotels, Restaurants & Leisure—1.9%
Vail Resorts, Inc. (a)		22,327		5,080,732
Yum China Holdings, Inc.		92,948		4,222,628
				9,303,360
Household Durables—2.6%
D.R. Horton, Inc.		121,437		6,400,944
Mohawk Industries, Inc. (a) (b)		51,762		6,422,112
				12,823,056
Industrial Conglomerates—1.9%
Carlisle Cos., Inc. (a)		64,046		9,321,255
Insurance—12.6%
Allstate Corp. (The)		100,506		10,922,992
Arch Capital Group, Ltd. (b)		283,550		11,903,429
Brown & Brown, Inc.		420,466		15,162,004
Fidelity National Financial, Inc.		218,539		9,705,317
Loews Corp.		194,044		9,989,385
Willis Towers Watson plc		25,674		4,954,312
				62,637,439
IT Services—4.0%
Amdocs, Ltd.		210,252		13,899,760
Euronet Worldwide, Inc. (a) (b)		40,779		5,965,967
				19,865,727
Life Sciences Tools & Services—1.2%
Charles River Laboratories International, Inc. (a) (b)		45,614		6,037,925
Machinery—2.9%
Cummins, Inc.		39,696		6,457,348
Stanley Black & Decker, Inc.		54,937		7,933,452
				14,390,800
Media—1.7%
Discovery, Inc. - Class C (b)		339,276		8,352,975

BHFTI-373

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Metals & Mining—0.9%
Barrick Gold Corp.		274,874	$	4,763,566
Mortgage Real Estate Investment Trusts—1.6%
Annaly Capital Management, Inc. (a)		890,847		7,839,454
Multi-Utilities—2.7%
Ameren Corp.		170,347		13,636,277
Multiline Retail—1.2%
Kohl’s Corp.		117,557		5,837,881
Oil, Gas & Consumable Fuels—3.7%
Cimarex Energy Co. (a)		85,970		4,121,402
Devon Energy Corp.		123,521		2,971,915
Hess Corp.		73,712		4,458,102
Valero Energy Corp.		44,301		3,776,217
WPX Energy, Inc. (b)		285,249		3,020,787
				18,348,423
Real Estate Management & Development—2.3%
CBRE Group, Inc. - Class A (a) (b)		212,458		11,262,399
Road & Rail—2.9%
Kansas City Southern (a)		109,298		14,537,727
Semiconductors & Semiconductor Equipment—0.8%
Analog Devices, Inc.		34,189		3,819,937
Software—0.6%
Check Point Software Technologies, Ltd. (b)		26,491		2,900,764
Technology Hardware, Storage & Peripherals—1.6%
NCR Corp. (a) (b)		246,317		7,773,764
Textiles, Apparel & Luxury Goods—0.9%
PVH Corp.		51,399		4,534,934
Trading Companies & Distributors—1.3%
AerCap Holdings NV (b)		118,406		6,482,728
Water Utilities—2.2%
American Water Works Co., Inc.		88,260		10,964,540
Total Common Stocks (Cost $432,492,526)				478,305,218
Short-Term Investment—3.7%
Security Description	Principal Amount*		Value
Repurchase Agreement—3.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $18,337,055; collateralized by U.S. Treasury Note at 2.375%, maturing 03/15/22, with a market value of $18,705,000.		18,336,648	$	18,336,648
Total Short-Term Investments (Cost $18,336,648)				18,336,648
Securities Lending Reinvestments (c)—15.0%
Certificates of Deposit—7.1%
ABN AMRO Bank NV 2.120%, 01/10/20		1,000,000		1,000,160
Bank of Montreal (Chicago) 1.990%, SOFR + 0.170%, 02/07/20 (d)		1,000,000		1,000,211
Bank of Nova Scotia
2.198%, 1M LIBOR + 0.170%, 05/15/20 (d)		1,000,000		999,558
2.481%, 3M LIBOR + 0.170%, 01/09/20 (d)		2,000,000		2,000,834
Barclays Bank plc 2.297%, 1M LIBOR + 0.230%, 02/05/20 (d)		2,000,000		1,998,604
BNP Paribas S.A. New York 2.289%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,370
Canadian Imperial Bank of Commerce
2.180%, FEDEFF PRV + 0.350%, 08/06/20 (d)		2,000,000		2,000,010
2.278%, 1M LIBOR + 0.250%, 10/15/19 (d)		1,000,000		1,000,034
Chiba Bank, Ltd.
2.230%, 11/20/19		2,000,000		2,000,012
2.240%, 10/28/19		1,000,000		1,000,078
2.250%, 10/17/19		1,000,000		1,000,052
China Construction Bank Corp. 2.470%, 10/18/19		1,000,000		1,000,127
Commonwealth Bank of Australia 2.200%, 1M LIBOR + 0.175%, 04/16/20 (d)		2,000,000		1,999,180
Credit Industriel et Commercial 2.393%, 3M LIBOR + 0.090%, 10/15/19 (d)		1,000,000		1,000,105
DZ Bank AG
Zero Coupon, 11/18/19		994,301		997,180
Zero Coupon, 03/10/20		989,594		990,790
KBC Bank NV Zero Coupon, 10/25/19		1,974,000		1,997,309
Rabobank International London 2.236%, 1M LIBOR + 0.190%, 04/24/20 (d)		2,000,000		1,999,800
Societe Generale 2.280%, FEDEFF PRV + 0.450%, 08/14/20 (d)		1,000,143		1,000,519
Standard Chartered Bank
2.158%, 1M LIBOR + 0.130%, 11/15/19 (d)		2,000,000		2,000,034
2.230%, FEDEFF PRV + 0.400%, 03/13/20 (d)		1,000,000		999,994
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 02/18/20		989,064		991,930
2.184%, 1M LIBOR + 0.140%, 11/20/19 (d)		2,000,000		1,999,960
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.300%, 02/14/20 (d)		2,000,000		1,999,993
				34,976,844

BHFTI-374

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—1.2%
Agricultural Bank of China 2.295%, 12/11/19		994,263	$	995,388
Bank of China, Ltd.
2.290%, 12/09/19		994,275		995,447
2.470%, 10/11/19		994,099		999,289
ING Funding LLC 2.327%, 3M LIBOR + 0.040%, 11/04/19 (d)		1,000,000		1,000,162
LMA S.A. & LMA Americas, Corp. 2.610%, 10/03/19		1,973,465		1,999,642
				5,989,928
Repurchase Agreements—6.3%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 2.270%, due on 12/31/19 with a maturity value of $1,206,961; collateralized by various Common Stock with an aggregate market value of $1,320,000.		1,200,000		1,200,000
Citadel Clearing LLC Repurchase Agreement dated 09/30/19 at 2.430%, due on 12/31/19 with a maturity value of $3,018,630; collateralized by various Common Stock with an aggregate market value of $3,300,339.		3,000,000		3,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 09/30/19 at 2.170%, due on 11/04/19 with a maturity value of $1,002,110; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,200,080; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,224,001.		1,200,000		1,200,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,200,080; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,224,000.		1,200,000		1,200,000
Deutsche Bank AG, London Repurchase Agreement dated 09/30/19 at 2.500%, due on 10/01/19 with a maturity value of $6,544,079; collateralized by Foreign Obligations with rates ranging from 1.625% - 4.375%, maturity dates ranging from 10/01/20 - 01/25/22, and an aggregate market value of $6,674,499.		6,543,624		6,543,624
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/30/19 at 2.370%, due on 03/30/20 with a maturity value of $1,011,982; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 2.375%, maturity dates ranging from 03/15/22 - 05/15/29, and various Common Stock with an aggregate market value of $1,097,669.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,400,077; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,558,203.		1,400,000		1,400,000
Repurchase Agreement dated 09/30/19 at 2.020%, due on 10/07/19 with a maturity value of $200,079; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.500%, maturity dates ranging from 02/15/22 - 02/15/45, and various Common Stock with an aggregate market value of $222,281.		200,000		200,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $3,600,197; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,999,823.		3,600,000		3,600,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $3,100,171; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $3,444,292.		3,100,000		3,100,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $6,002,333; collateralized by U.S. Government Agency Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $6,666,371.		6,000,000		6,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $300,117; collateralized by Foreign Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $333,319.		300,000		300,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $500,194; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $555,531.		500,000		500,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $1,000,389; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000		1,000,000
				31,243,624

BHFTI-375

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Time Deposit—0.4%
Australia & New Zealand Banking Group, Ltd. 2.000%, 10/01/19		2,000,000	$	2,000,000
Total Securities Lending Reinvestments (Cost $74,209,968)				74,210,396
Total Investments—115.0% (Cost $525,039,142)				570,852,262
Other assets and liabilities (net)—(15.0)%				(74,329,216	)
Net Assets—100.0%			$	496,523,046

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2019, the market value of securities loaned was $73,005,871 and the collateral received consisted of cash in the amount of $74,169,969. 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 September 30, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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.

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing 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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	478,305,218	$	—		$	—	$	478,305,218
Total Short-Term Investment*		—		18,336,648			—		18,336,648
Total Securities Lending Reinvestments*		—		74,210,396			—		74,210,396
Total Investments	$	478,305,218	$	92,547,044		$	—	$	570,852,262
Collateral for Securities Loaned (Liability)	$	—	$	(74,169,969	)	$	—	$	(74,169,969	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-376

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

U.S. Treasury & Government Agencies—86.2% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—50.1%
Fannie Mae 15 Yr. Pool
3.000%, 05/01/27		39,209	$	40,203
3.000%, 06/01/32		176,382		180,622
3.000%, 10/01/32		18,793		19,250
3.000%, 02/01/33		6,211,333		6,365,167
3.000%, 03/01/33		986,496		1,011,081
3.000%, 04/01/33		805,365		825,394
3.000%, 05/01/33		385,893		395,565
3.000%, 06/01/33		183,733		188,220
3.000%, 07/01/33		1,503,344		1,537,068
3.000%, 08/01/33		4,206,097		4,308,291
3.000%, 10/01/33		881,757		903,003
3.000%, 11/01/33		647,818		662,634
3.000%, 12/01/33		329,541		336,896
3.000%, 01/01/34		700,878		716,353
3.000%, 02/01/34		606,224		619,608
3.000%, 03/01/34		1,529,929		1,563,774
3.000%, 05/01/34		810,878		829,205
4.500%, 12/01/23		6,695		6,894
4.500%, 11/01/25		525,383		551,889
5.000%, 03/01/23		5,432		5,618
Fannie Mae 20 Yr. Pool
3.500%, 07/01/32		2,786,275		2,899,316
3.500%, 01/01/34		1,775,219		1,846,480
4.000%, 11/01/31		1,108,895		1,174,753
4.000%, 08/01/32		885,283		937,534
Fannie Mae 30 Yr. Pool
2.500%, 01/01/43		2,468,889		2,467,043
2.500%, 04/01/47		534,810		534,410
3.000%, 09/01/42		2,212,098		2,280,037
3.000%, 10/01/42		1,821,042		1,876,971
3.000%, 11/01/42		3,109,695		3,205,209
3.000%, 08/01/46		2,205,999		2,259,959
3.000%, 09/01/46		980,590		1,005,824
3.000%, 10/01/46		387,645		397,154
3.000%, 11/01/46		490,148		502,172
3.000%, 07/01/49		593,455		605,004
3.000%, 08/01/49		1,686,457		1,713,991
3.000%, 09/01/49		6,587,091		6,736,383
3.000%, 10/01/49		200,000		203,710
3.500%, 11/01/42		3,198,967		3,359,207
3.500%, 04/01/46		3,297,099		3,437,143
3.500%, 07/01/47		2,667,027		2,787,769
3.500%, 12/01/47		7,427,624		7,748,227
3.500%, 08/01/49		4,729,443		4,879,333
4.000%, 10/01/39		109,825		117,287
4.000%, 11/01/40		4,660,244		4,978,584
4.000%, 01/01/42		299,264		319,753
4.000%, 04/01/42		425,682		454,882
4.000%, 09/01/42		2,271,493		2,427,087
4.000%, 10/01/42		517,645		548,305
4.000%, 11/01/42		184,988		191,984
4.000%, 04/01/43		242,065		255,697
4.000%, 06/01/43		306,325		326,779
4.000%, 08/01/43		419,666		446,072
4.000%, 09/01/43		1,779,809		1,899,423
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.000%, 10/01/43		317,708		339,436
4.000%, 02/01/44		113,777		120,414
4.000%, 04/01/44		172,787		183,008
4.000%, 02/01/45		211,050		222,976
4.000%, 06/01/45		80,793		86,219
4.000%, 12/01/45		951,359		1,003,727
4.000%, 03/01/46		229,702		241,815
4.000%, 05/01/46		72,406		75,139
4.000%, 09/01/47		59,831		62,676
4.000%, 11/01/47		56,113		58,715
4.000%, 03/01/48		413,547		432,546
4.000%, 05/01/48		1,557,617		1,646,277
4.500%, 12/01/40		1,711,372		1,854,476
4.500%, 08/01/41		154,455		167,392
4.500%, 11/01/41		956,396		1,036,520
4.500%, 12/01/43		249,416		269,090
4.500%, 10/01/44		1,620,299		1,748,812
4.500%, 02/01/45		577,843		621,433
4.500%, 03/01/46		263,580		285,291
4.500%, 12/01/48		3,172,896		3,401,874
5.000%, 04/01/41		17,949		19,221
5.000%, 06/01/41		31,481		34,060
5.000%, 08/01/41		94,229		102,631
5.500%, 12/01/39		575,605		648,536
5.500%, 04/01/40		702,960		789,181
5.500%, 06/01/40		65,900		73,471
5.500%, 05/01/41		244,881		274,667
5.500%, 06/01/41		399,927		445,385
5.500%, 07/01/41		495,619		553,370
5.500%, 12/01/41		814,333		908,077
5.500%, 02/01/42		1,789,098		1,999,395
5.500%, 05/01/44		496,330		554,163
6.000%, 01/01/34		76,358		87,880
6.000%, 08/01/34		116,536		134,103
6.000%, 10/01/34		124,288		143,031
6.000%, 11/01/34		91,399		105,128
6.000%, 01/01/35		114,010		131,137
6.000%, 04/01/35		178,675		205,629
6.000%, 06/01/36		286,433		329,672
6.000%, 05/01/37		393,554		453,007
6.000%, 09/01/37		21,832		25,252
6.000%, 10/01/37		326,599		378,259
6.000%, 01/01/38		320,617		371,338
6.000%, 03/01/38		109,422		126,840
6.000%, 07/01/38		65,919		76,361
6.000%, 01/01/40		307,493		356,380
6.000%, 05/01/40		428,093		495,989
6.000%, 07/01/41		397,562		457,494
6.000%, 01/01/42		35,108		40,059
6.500%, 07/01/32		78,742		89,409
6.500%, 12/01/32		24,166		27,567
6.500%, 07/01/35		27,789		31,743
6.500%, 12/01/35		251,033		286,821
6.500%, 08/01/36		417,176		475,743

BHFTI-377

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae ARM Pool
4.492%, 12M LIBOR + 1.800%, 07/01/41 (b)		50,120	$	52,398
4.531%, 12M LIBOR + 1.818%, 07/01/41 (b)		30,301		31,697
4.553%, 12M LIBOR + 1.818%, 09/01/41 (b)		17,634		18,410
4.595%, 12M LIBOR + 1.711%, 06/01/42 (b)		42,547		44,171
4.657%, 12M LIBOR + 1.830%, 10/01/41 (b)		17,477		18,240
4.932%, 12M LIBOR + 1.818%, 02/01/42 (b)		121,206		126,023
Fannie Mae Grantor Trust 2.898%, 06/25/27		10,413,220		10,890,695
Fannie Mae Pool
3.000%, 08/01/27		105,622		108,031
3.000%, 10/01/27		175,115		179,093
3.000%, 11/01/27		60,933		62,321
3.000%, 12/01/27		89,661		91,706
3.000%, 01/01/28		85,451		87,401
3.000%, 02/01/28		78,532		80,318
3.000%, 03/01/28		80,029		81,854
3.000%, 04/01/28		78,612		80,407
3.000%, 05/01/28		88,882		90,908
3.000%, 06/01/28		87,938		89,936
3.000%, 07/01/28		81,797		83,655
3.000%, 08/01/28		90,068		92,116
3.000%, 09/01/28		92,651		94,755
3.000%, 01/01/29		90,377		92,428
3.000%, 03/01/29		90,002		92,045
3.500%, 09/01/32		2,970,520		3,071,037
3.500%, 10/01/56		2,042,189		2,150,055
6.500%, 08/01/39		1,329,655		1,533,576
6.534%, 02/01/39		181,122		195,644
Fannie Mae REMICS (CMO)
1.750%, 06/25/42		235,600		231,087
1.750%, 01/25/43		224,785		222,664
2.948%, 1M LIBOR + 0.930%, 06/25/36 (b)		493,725		506,070
3.000%, 05/25/46		4,035,103		4,116,617
3.324%, 1M LIBOR + 0.920%, 03/25/36 (b)		315,277		323,378
4.250%, 03/25/42		1,835,325		1,996,060
4.500%, 12/25/40		149,937		160,533
4.532%, -1 x 1M LIBOR + 6.550%, 06/25/41 (b) (c)		403,231		40,851
4.750%, 01/25/41		379,220		428,220
5.000%, 12/25/23		116,133		120,769
5.000%, 12/25/34		247,975		273,327
5.000%, 03/25/35		206,744		227,977
5.000%, 08/25/39		325,935		359,334
5.000%, 02/25/41		210,880		231,189
5.500%, 07/25/34		32,961		33,187
5.500%, 06/25/35		103,428		109,334
5.500%, 08/25/35		972,452		1,079,833
6.000%, 06/25/45 (c)		574,762		110,067
Freddie Mac 15 Yr. Gold Pool
3.000%, 06/01/31		590,096		608,826
3.000%, 02/01/32		19,288		19,786
3.000%, 03/01/33		3,245,620		3,328,473
3.000%, 09/01/33		515,626		527,626
3.000%, 03/01/34		393,819		402,872
6.000%, 01/01/24		130,447		136,194
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 20 Yr. Gold Pool
3.000%, 11/01/33		1,834,834		1,893,142
3.500%, 03/01/32		1,063,583		1,107,295
3.500%, 06/01/32		2,855,932		2,973,352
3.500%, 07/01/32		1,001,387		1,042,508
3.500%, 02/01/34		4,114,112		4,283,530
4.000%, 06/01/33		1,157,610		1,226,962
Freddie Mac 30 Yr. Gold Pool
3.000%, 11/01/42		156,182		161,741
3.000%, 01/01/43		182,792		188,510
3.000%, 02/01/43		930,918		960,407
3.000%, 03/01/43		9,538,041		9,836,380
3.000%, 06/01/43		3,064,140		3,159,992
3.000%, 01/01/47		1,137,531		1,165,877
3.000%, 09/01/48		930,917		958,246
3.000%, 10/01/49		600,000		613,216
3.500%, 04/01/40		301,287		316,679
3.500%, 05/01/40		371,017		390,004
3.500%, 06/01/40		648,690		681,868
3.500%, 07/01/40		155,169		163,099
3.500%, 08/01/40		294,849		309,907
3.500%, 09/01/40		255,441		268,486
3.500%, 10/01/40		185,129		194,555
3.500%, 11/01/40		189,828		199,520
3.500%, 12/01/40		242,514		254,886
3.500%, 04/01/42		626,510		661,046
3.500%, 07/01/42		123,667		130,007
3.500%, 08/01/42		50,093		52,468
3.500%, 09/01/42		312,561		329,279
3.500%, 10/01/42		1,476,041		1,551,709
3.500%, 01/01/43		639,535		672,164
3.500%, 02/01/43		288,438		303,226
3.500%, 04/01/43		5,416,742		5,700,673
3.500%, 05/01/43		412,129		433,262
3.500%, 11/01/44		511,740		533,913
3.500%, 02/01/45		14,584		15,274
3.500%, 06/01/45		16,218		16,986
3.500%, 11/01/45		4,597,537		4,814,823
3.500%, 01/01/46		622,816		649,684
3.500%, 02/01/46		512,523		527,342
3.500%, 05/01/46		1,411,913		1,487,646
3.500%, 06/01/46		712,672		742,113
3.500%, 07/01/46		1,740,362		1,815,362
3.500%, 08/01/46		330,092		341,935
3.500%, 09/01/46		953,627		998,729
3.500%, 01/01/47		2,384,502		2,462,601
3.500%, 02/01/47		2,854,126		2,942,887
3.500%, 07/01/47		1,333,043		1,378,697
3.500%, 11/01/47		212,137		219,700
3.500%, 12/01/47		833,405		860,814
3.500%, 02/01/48		311,188		321,237
3.500%, 03/01/48		1,192,448		1,234,354
3.500%, 04/01/48		1,034,240		1,067,450
3.500%, 01/01/49		4,318,715		4,454,343
4.000%, 11/01/41		11,736		12,352

BHFTI-378

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (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%, 09/01/42		3,379,560	$	3,613,952
4.000%, 10/01/42		79,597		84,348
4.000%, 11/01/42		429,002		459,398
4.000%, 12/01/42		182,554		195,655
4.000%, 01/01/43		23,954		24,932
4.000%, 02/01/43		220,434		236,235
4.000%, 03/01/43		108,002		115,548
4.000%, 04/01/43		29,058		30,522
4.000%, 05/01/43		445,689		475,240
4.000%, 06/01/43		32,700		34,398
4.000%, 07/01/43		387,134		412,907
4.000%, 08/01/43		294,461		313,788
4.000%, 09/01/43		495,203		526,815
4.000%, 10/01/43		468,152		497,686
4.000%, 11/01/43		21,476		22,353
4.000%, 01/01/44		520,586		552,595
4.000%, 02/01/44		76,248		80,426
4.000%, 03/01/44		60,813		64,515
4.000%, 04/01/44		61,827		65,209
4.000%, 07/01/44		768,945		820,900
4.000%, 12/01/44		17,174		17,832
4.000%, 01/01/45		477,955		504,884
4.000%, 02/01/45		541,812		573,865
4.000%, 05/01/45		1,006,472		1,074,706
4.000%, 12/01/45		548,541		579,271
4.000%, 07/01/47		4,140,278		4,344,137
4.000%, 11/01/47		1,041,594		1,090,850
4.000%, 12/01/47		1,794,155		1,878,207
4.000%, 01/01/48		422,561		441,883
4.000%, 02/01/48		390,180		407,801
4.000%, 04/01/48		160,510		167,214
4.000%, 05/01/48		904,082		954,652
4.500%, 05/01/39		96,736		104,890
4.500%, 07/01/40		1,976,588		2,142,620
4.500%, 09/01/40		873,980		947,518
4.500%, 02/01/41		77,939		84,500
4.500%, 08/01/41		837,687		908,339
4.500%, 09/01/41		94,411		102,373
4.500%, 10/01/41		177,846		192,832
4.500%, 02/01/44		34,562		37,189
4.500%, 10/01/48		182,326		192,773
5.000%, 01/01/35		157,270		173,755
5.000%, 05/01/35		83,523		92,302
5.000%, 07/01/35		1,061,373		1,173,112
5.000%, 11/01/35		1,057,876		1,169,366
5.000%, 06/01/41		1,770,539		1,967,190
5.000%, 07/01/41		404,915		446,448
5.500%, 03/01/34		1,169,552		1,323,309
5.500%, 07/01/35		806,128		910,209
Freddie Mac 30 Yr. Pool
2.500%, 10/01/49		400,000		398,214
3.000%, 07/01/49		691,347		705,129
3.000%, 08/01/49		1,091,756		1,109,458
3.000%, 09/01/49		7,177,531		7,349,711
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Pool
3.000%, 10/01/49		800,000		818,610
3.500%, 08/01/49		1,285,154		1,319,992
Freddie Mac ARM Non-Gold Pool
4.222%, 12M LIBOR + 1.750%, 09/01/41 (b)		295,425		307,204
4.274%, 12M LIBOR + 1.880%, 09/01/41 (b)		22,945		23,993
4.502%, 12M LIBOR + 1.883%, 10/01/42 (b)		144,758		151,367
4.642%, 12M LIBOR + 1.750%, 12/01/40 (b)		793,992		828,081
4.660%, 12M LIBOR + 1.910%, 06/01/41 (b)		21,908		22,959
4.713%, 12M LIBOR + 1.880%, 10/01/41 (b)		268,297		280,120
4.729%, 12M LIBOR + 1.910%, 06/01/41 (b)		44,836		47,045
4.785%, 12M LIBOR + 1.910%, 05/01/41 (b)		37,581		39,460
4.789%, 12M LIBOR + 1.880%, 04/01/41 (b)		21,851		22,910
4.808%, 12M LIBOR + 1.910%, 05/01/41 (b)		44,920		47,015
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
1.869%, 11/25/19		1,224,725		1,222,769
2.750%, 11/25/22		4,900,000		4,976,646
3.750%, 11/25/29		191,932		211,355
3.750%, 11/25/32		1,000,000		1,126,176
3.974%, 01/25/21 (b)		17,750,000		18,109,475
3.990%, 05/25/33 (b)		3,650,000		4,213,980
4.084%, 11/25/20 (b)		935,716		953,697
Freddie Mac REMICS (CMO)
1.750%, 06/15/42		175,608		173,581
2.428%, 1M LIBOR + 0.400%, 03/15/34 (b)		302,600		302,526
2.928%, 1M LIBOR + 0.900%, 02/15/33 (b)		173,541		177,618
3.500%, 11/15/31		1,784,099		1,869,016
4.000%, 01/15/41		10,835,285		11,718,900
4.250%, 03/15/40		2,113,290		2,173,825
4.500%, 12/15/26		1,427,073		1,499,777
4.500%, 02/15/41		30,278		33,141
5.000%, 10/15/34		307,267		339,006
5.000%, 12/15/37		94,371		102,817
5.000%, 03/15/41		500,000		559,250
5.000%, 04/15/41		795,618		936,075
5.000%, 05/15/41		892,679		1,076,793
5.500%, 05/15/34		1,663,141		1,861,323
5.500%, 11/15/36		605,210		669,331
5.500%, 06/15/41		3,777,310		4,273,857
FREMF Multifamily Aggregation Risk Transfer Trust 2.357%, 1M LIBOR + 0.320%, 02/25/20 (b)		11,611,000		11,610,828
Ginnie Mae I 30 Yr. Pool
3.000%, 05/15/42		507,921		521,686
3.000%, 04/15/43		167,060		172,078
3.000%, 05/15/43		179,787		185,143
3.000%, 01/15/45		83,293		85,574
3.000%, 02/15/45		115,497		118,621
3.000%, 03/15/45		739,516		759,584
3.000%, 05/15/45		41,337		42,453
3.000%, 06/15/45		84,139		86,410
3.000%, 07/15/45		396,917		407,791
3.500%, 11/15/41		254,610		270,859
3.500%, 02/15/42		220,196		234,267
3.500%, 03/15/42		244,126		257,625
3.500%, 05/15/42		735,362		776,047

BHFTI-379

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae I 30 Yr. Pool
3.500%, 06/15/42		517,202	$	544,318
4.000%, 09/15/40		1,380,155		1,501,342
4.000%, 10/15/40		104,958		112,039
4.000%, 03/15/41		509,526		548,455
4.000%, 06/15/41		20,650		21,817
4.000%, 09/15/41		157,777		168,441
4.000%, 10/15/41		687,239		743,274
4.000%, 11/15/41		191,896		204,869
4.000%, 12/15/41		573,051		618,174
4.000%, 01/15/42		31,151		33,416
4.000%, 02/15/42		33,819		36,126
4.000%, 03/15/42		151,777		163,031
4.000%, 11/15/42		20,185		21,180
4.000%, 01/15/43		49,093		52,847
4.500%, 08/15/39		1,532,289		1,676,713
4.500%, 06/15/40		422,936		460,816
4.500%, 07/15/40		104,298		113,515
4.500%, 03/15/41		548,903		597,544
4.500%, 04/15/41		46,053		50,136
5.000%, 03/15/39		59,927		66,736
5.000%, 07/15/39		107,408		120,636
5.000%, 08/15/39		106,077		119,160
5.000%, 09/15/39		74,846		84,009
5.000%, 04/15/40		38,971		43,760
5.000%, 08/15/40		145,004		162,817
5.000%, 04/15/41		116,363		130,640
5.000%, 09/15/41		74,643		83,865
5.500%, 10/15/39		16,629		18,849
6.000%, 06/15/36		740,499		861,333
Ginnie Mae II 30 Yr. Pool
3.000%, 12/20/42		1,006,289		1,039,518
3.000%, 03/20/43		931,538		964,816
3.000%, 11/20/46		16,127,273		16,631,281
3.000%, 01/20/48		2,739,567		2,815,477
3.500%, 12/20/42		394,794		419,336
3.500%, 07/20/45		4,939,481		5,167,517
3.500%, 12/20/45		7,980,533		8,365,511
3.500%, 05/20/46		1,911,585		2,008,286
3.500%, 06/20/46		5,545,215		5,812,762
3.500%, 11/20/47		592,586		615,658
3.500%, 10/20/48		2,459,399		2,549,096
4.000%, 09/20/39		142,500		151,798
4.000%, 10/20/40		19,275		20,537
4.000%, 11/20/40		1,336,057		1,423,576
4.000%, 10/20/41		1,642,266		1,751,135
4.000%, 11/20/41		616,495		657,354
4.000%, 04/20/42		801,451		852,612
4.000%, 06/20/42		59,825		63,785
4.000%, 10/20/44		1,567,895		1,669,048
4.000%, 11/20/44		1,614,148		1,717,385
4.000%, 12/20/44		88,035		93,640
4.500%, 02/20/40		140,272		153,148
4.500%, 09/20/40		15,254		16,690
4.500%, 08/20/48		3,177,608		3,332,641
4.500%, 09/20/48		2,292,756		2,409,215
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
4.500%, 10/20/48		1,707,657		1,791,197
Ginnie Mae II Pool
4.257%, 12/20/61 (b)		410,497		414,717
4.980%, 01/20/62 (b)		67,713		68,507
5.470%, 08/20/59 (b)		1,800		1,950
Government National Mortgage Association (CMO)
1.650%, 01/20/63		416,701		414,781
1.750%, 03/20/63		3,162,801		3,149,522
2.294%, 1M LIBOR + 0.250%, 10/20/47 (b)		1,131,284		1,126,181
2.344%, 1M LIBOR + 0.300%, 05/20/48 (b)		1,395,020		1,391,985
2.344%, 1M LIBOR + 0.300%, 06/20/48 (b)		1,613,096		1,610,001
2.440%, 1Y H15 + 0.500%, 05/20/66 (b)		4,969,512		4,969,893
2.470%, 1M LIBOR + 0.330%, 07/20/60 (b)		206,068		205,194
2.500%, 11/20/46		221,597		224,207
2.500%, 06/20/63		4,329,949		4,325,174
2.500%, 05/20/65		1,496,365		1,495,327
2.500%, 06/20/65		348,714		348,463
2.524%, 1M LIBOR + 0.480%, 01/20/38 (b)		35,057		35,248
2.529%, 1M LIBOR + 0.300%, 08/20/60 (b)		164,804		164,066
2.529%, 1M LIBOR + 0.300%, 09/20/60 (b)		183,945		183,089
2.544%, 1M LIBOR + 0.500%, 07/20/37 (b)		134,431		135,170
2.558%, 1M LIBOR + 0.530%, 12/16/39 (b)		126,571		126,275
2.719%, 1M LIBOR + 0.490%, 02/20/61 (b)		230,041		230,094
2.729%, 1M LIBOR + 0.500%, 12/20/60 (b)		418,526		418,715
2.729%, 1M LIBOR + 0.500%, 02/20/61 (b)		68,394		68,421
2.729%, 1M LIBOR + 0.500%, 04/20/61 (b)		141,329		141,392
2.729%, 1M LIBOR + 0.500%, 05/20/61 (b)		298,458		298,599
2.750%, 02/20/64		4,112,442		4,152,878
2.750%, 05/20/64		1,189,147		1,195,905
2.759%, 1M LIBOR + 0.530%, 06/20/61 (b)		189,342		189,549
2.829%, 1M LIBOR + 0.600%, 10/20/61 (b)		669,464		671,284
2.859%, 1M LIBOR + 0.630%, 01/20/62 (b)		694,227		696,613
2.859%, 1M LIBOR + 0.630%, 03/20/62 (b)		432,144		432,697
2.879%, 1M LIBOR + 0.650%, 11/20/65 (b)		199,162		199,345
2.929%, 1M LIBOR + 0.700%, 11/20/61 (b)		648,523		651,782
2.929%, 1M LIBOR + 0.700%, 01/20/62 (b)		451,543		453,720
2.940%, 1Y H15 + 0.350%, 08/20/66 (b)		4,831,521		4,818,313
3.000%, 03/20/63		2,849,503		2,854,673
3.082%, 1M LIBOR + 0.600%, 11/16/39 (b)		167,040		168,679
3.157%, 1M LIBOR + 0.650%, 05/20/61 (b)		31,534		31,626
3.250%, 08/20/68		4,119,792		4,311,325
3.500%, 11/20/36 (c)		100,859		2,689
3.500%, 09/20/63		1,440,148		1,452,269
4.000%, 12/20/40		3,590,729		3,900,879
4.056%, -1 x 1M LIBOR + 6.100%, 07/20/41 (b) (c)		185,036		34,673
4.500%, 05/16/40		80,000		86,373
4.500%, 05/20/40 (c)		18,824		1,019
4.500%, 12/20/40		1,982,622		2,223,562
5.000%, 12/20/39		4,403,185		4,984,157
5.000%, 03/20/40		3,190,000		3,667,477
5.010%, 09/20/60 (b)		320,980		322,337
5.150%, 08/20/60		285,325		286,307
5.286%, 07/20/60 (b)		248,494		249,178
5.500%, 04/20/34		174,769		218,318
5.941%, -1 x 1M LIBOR + 8.667%, 04/20/39 (b)		450,666		456,907
6.074%, -1 x 1M LIBOR + 8.800%, 08/20/39 (b)		1,571,010		1,593,854

BHFTI-380

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Uniform Mortgage-Backed Securities
2.500%, TBA (a)		4,500,000	$	4,479,555
3.000%, TBA (a)		4,800,000		4,873,125
3.500%, TBA (a)		3,700,000		3,796,113
				482,264,130
Federal Agencies—8.8%
Federal Home Loan Bank
2.125%, 02/11/20		15,000,000		15,011,000
2.625%, 10/01/20		14,000,000		14,108,138
3.250%, 11/16/28		10,000,000		11,146,656
Federal Home Loan Mortgage Corp.
Zero Coupon, 12/14/29		10,000,000		8,038,140
6.250%, 07/15/32 (d)		7,568,000		11,176,068
6.750%, 03/15/31		481,000		716,354
Federal National Mortgage Association
1.500%, 11/30/20		2,000		1,993
6.625%, 11/15/30		1,430,000		2,094,727
Freddie Mac Strips Zero Coupon, 07/15/32		15,000,000		11,220,744
Overseas Private Investment Corp. 2.870%, 02/15/35		3,531,000		3,684,846
Tennessee Valley Authority 2.875%, 09/15/24		7,050,000		7,449,461
				84,648,127
U.S. Treasury—27.3%
U.S. Treasury Bonds
3.000%, 02/15/48		71,000,000		84,367,969
3.125%, 05/15/48		15,170,000		18,453,475
3.625%, 02/15/44		15,100,000		19,534,445
3.750%, 11/15/43		14,500,000		19,086,191
U.S. Treasury Inflation Indexed Bond 1.375%, 02/15/44 (e)		28,621,320		34,311,657
U.S. Treasury Notes
2.000%, 09/30/20 (d)		2,000,000		2,003,594
2.000%, 02/15/25		33,130,000		33,831,424
2.250%, 04/30/21		7,000,000		7,056,055
2.250%, 11/15/25		9,000,000		9,333,985
2.625%, 01/31/26		8,290,000		8,792,581
2.625%, 02/15/29		18,000,000		19,486,406
2.750%, 02/15/28		6,800,000		7,383,844
				263,641,626
Total U.S. Treasury & Government Agencies (Cost $811,307,535)				830,553,883
Foreign Government—8.4%
Sovereign—8.4%
Abu Dhabi Government International Bond 3.125%, 10/11/27 (144A)		2,860,000		3,002,977
Colombia Government International Bond 4.500%, 03/15/29		4,560,000		5,068,440
Hashemite Kingdom of Jordan Government AID Bond 3.000%, 06/30/25		10,389,000		11,083,082
Sovereign—(Continued)
Indonesia Government International Bond 4.750%, 02/11/29		4,410,000		5,016,244
Israel Government AID Bonds
5.500%, 09/18/23		13,878,000		15,903,288
5.500%, 12/04/23		8,920,000		10,271,607
5.500%, 04/26/24		1,900,000		2,217,430
Mexico Government International Bond 4.500%, 04/22/29 (d)		4,650,000		5,051,109
Panama Government International Bond 3.750%, 03/16/25		2,780,000		2,939,878
Peruvian Government International Bond 4.125%, 08/25/27		2,620,000		2,927,876
Poland Government International Bond 3.250%, 04/06/26		2,820,000		2,995,618
Qatar Government International Bond 4.000%, 03/14/29 (144A)		2,740,000		3,034,550
Svensk Exportkredit AB 1.625%, 09/12/21 (d)		2,000,000		1,994,180
Ukraine Government AID Bond 1.471%, 09/29/21		9,388,000		9,350,187
Total Foreign Government (Cost $82,269,205)				80,856,466
Asset-Backed Securities—3.0%
Asset-Backed - Other—0.6%
Dell Equipment Finance Trust 3.180%, 06/22/23 (144A)		625,000		631,242
Kubota Credit Owner Trust 3.100%, 08/15/22 (144A)		5,080,000		5,142,224
				5,773,466
Asset-Backed - Student Loan—2.4%
Navient Student Loan Trust
2.318%, 1M LIBOR + 0.300%, 07/26/66 (144A) (b)		387,853		387,927
2.438%, 1M LIBOR + 0.420%, 08/27/29 (b)		183,730		183,737
2.618%, 1M LIBOR + 0.600%, 07/26/66 (144A) (b)		3,846,000		3,855,206
Northstar Education Finance, Inc. 2.486%, 3M LIBOR + 0.230%, 07/28/21 (b)		1,583,548		1,581,707
SLM Student Loan Trust 2.746%, 3M LIBOR + 0.470%, 01/26/26 (b)		16,819,040		16,824,343
				22,832,920
Total Asset-Backed Securities (Cost $28,568,040)				28,606,386
Mortgage-Backed Securities—1.8%
Collateralized Mortgage Obligations—1.8%
Seasoned Credit Risk Transfer Trust
3.500%, 08/25/57		11,445,372		11,931,748
3.500%, 03/25/58		3,711,765		3,866,158
Seasoned Loans Structured Transaction
3.500%, 06/25/28		1,964,350		2,040,568
Total Mortgage-Backed Securities (Cost $16,964,669)				17,838,474

BHFTI-381

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

Corporate Bonds & Notes—1.6%

Security Description	Shares/ Principal Amount*		Value
Diversified Financial Services—0.7%
Private Export Funding Corp. 4.300%, 12/15/21		6,000,000	$	6,311,354
Sovereign—0.9%
National Credit Union Administration Guaranteed Notes Trust 3.450%, 06/12/21		8,645,000		8,850,653
Total Corporate Bonds & Notes (Cost $9,743,380)				15,162,007
Short-Term Investments—0.3%
Mutual Fund—0.0%
State Street Institutional Liquid Reserves Fund Trust Class, 1.932% (f)		6		6
Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/30/19 at 0.800%, due on 10/01/19 with a maturity value of $3,003,849; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $3,064,467.		3,003,782		3,003,782
Total Short-Term Investments (Cost $3,003,788)				3,003,788
Securities Lending Reinvestments (g)—2.1%
Repurchase Agreements—2.0%
BofA Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.920%, due on 10/01/19 with a maturity value of $3,000,160; collateralized by various Common Stock with an aggregate market value of $3,300,001.		3,000,000		3,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,000,067; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.125% - 3.063%, maturity dates ranging from 05/31/21 - 01/31/24, and an aggregate market value of $1,020,001.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.400%, due on 10/01/19 with a maturity value of $1,000,067; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 2.250%, maturity dates ranging from 03/31/22 - 01/31/24, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/30/19 at 1.800%, due on 10/01/19 with a maturity value of $2,520,482; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 11/15/19 - 02/15/41, and an aggregate market value of $2,570,763.		2,520,356		2,520,356
Repurchase Agreements—(Continued)
Goldman Sachs & Co. Repurchase Agreement dated 09/30/19 at 2.280%, due on 10/01/19 with a maturity value of $4,000,253; collateralized by U.S. Government Agency Obligations with rates ranging from 2.500% - 5.500%, maturity dates ranging from 02/20/40 - 06/15/58, and an aggregate market value of $4,080,000.		4,000,000		4,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 09/30/19 at 1.990%, due on 10/01/19 with a maturity value of $1,200,066; collateralized by U.S. Treasury Obligations at 2.000%, maturing 02/15/22, and various Common Stock with an aggregate market value of $1,335,602.		1,200,000		1,200,000
Nomura Securities International, Inc. Repurchase Agreement dated 09/30/19 at 2.350%, due on 10/01/19 with a maturity value of $2,000,131; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 6.250%, maturity dates ranging from 11/15/19 - 02/15/49, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale
Repurchase Agreement dated 09/30/19 at 1.970%, due on 10/01/19 with a maturity value of $2,500,137; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $2,777,655.		2,500,000		2,500,000
Repurchase Agreement dated 09/30/19 at 1.980%, due on 10/01/19 with a maturity value of $1,000,055; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $1,111,062.		1,000,000		1,000,000
Repurchase Agreement dated 09/30/19 at 2.000%, due on 10/07/19 with a maturity value of $700,272; collateralized by U.S. Treasury Obligations with rates ranging from 1.500% - 3.125%, maturity dates ranging from 06/15/20 - 02/15/29, and various Common Stock with an aggregate market value of $777,743.		700,000		700,000
				18,920,356
Time Deposit—0.1%
Nordea Bank New York 1.760%, 10/01/19		700,000		700,000
Total Securities Lending Reinvestments (Cost $19,620,356)				19,620,356
Total Investments—103.4% (Cost $971,476,973)				995,641,360
Other assets and liabilities (net)—(3.4)%				(32,842,564	)
Net Assets—100.0%			$	962,798,796

*	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.

BHFTI-382

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (Unaudited)

(b)	Variable or floating rate security. The stated rate represents the rate at September 30, 2019. 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 held on loan. As of September 30, 2019, the market value of securities loaned was $19,057,192 and the collateral received consisted of cash in the amount of $19,620,356. 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)	The rate shown represents the annualized seven-day yield as of September 30, 2019.
(g)	Represents investment of cash collateral received from securities on loan as of September 30, 2019.
(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 September 30, 2019, the market value of 144A securities was $16,054,126, which is 1.7% of net assets.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
U.S. Treasury Ultra Long Bond Futures		12/19/19		20			USD	3,838,125		$	116,215
Futures Contracts—Short
U.S. Treasury Note 10 Year Futures		12/19/19		(130	)		USD	(16,940,625	)		113,233
U.S. Treasury Note 5 Year Futures		12/31/19		(66	)		USD	(7,863,797	)		34,972
Net Unrealized Appreciation										$	264,420

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-383

Brighthouse Funds Trust I

Western Asset Management Government Income Portfolio

Schedule of Investments as of September 30, 2019 (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. A reconciliation of Level 3 securities, if any, will 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 September 30, 2019:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	830,553,883		$	—	$	830,553,883
Total Foreign Government*		—		80,856,466			—		80,856,466
Total Asset-Backed Securities*		—		28,606,386			—		28,606,386
Total Mortgage-Backed Securities*		—		17,838,474			—		17,838,474
Total Corporate Bonds & Notes*		—		15,162,007			—		15,162,007
Total Short-Term Investments*		6		3,003,782			—		3,003,788
Total Securities Lending Reinvestments*		—		19,620,356			—		19,620,356
Total Investments	$	6	$	995,641,354		$	—	$	995,641,360
Collateral for Securities Loaned (Liability)	$	—	$	(19,620,356	)	$	—	$	(19,620,356	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	264,420	$	—		$	—	$	264,420

* See Schedule of Investments for additional detailed categorizations.

BHFTI-384

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 the Brighthouse Investment Advisers, LLC (the “Adviser”) (each as “pricing services”), pursuant to the 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 tranches, 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 Adviser 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 its net asset value (“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 a 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 its 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 NAV 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 ask 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.

BHFTI-385

Brighthouse Funds Trust I

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements—(Continued)

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 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 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 the 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 methods.

For information regarding a Portfolio’s other significant accounting policies, please refer to the Portfolio’s most recent Semiannual or Annual Report.

BHFTI-386