UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number   811-02224

  MML Series Investment Fund                                                  

(Exact name of registrant as specified in charter)                                                 

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

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

Date of fiscal year end:   12/31/17                                

Date of reporting period:   6/30/17                                

Item 1. Reports to Stockholders.

Table of Contents

President’s Letter to Shareholders (Unaudited)	1
Portfolio Summaries (Unaudited)	3
Portfolio of Investments (Unaudited)
MML Conservative Allocation Fund	8
MML Balanced Allocation Fund	9
MML Moderate Allocation Fund	10
MML Growth Allocation Fund	11
MML Aggressive Allocation Fund	12
MML American Funds® Growth Fund	13
MML American Funds® International Fund	14
MML American Funds Core Allocation Fund	15
Statements of Assets and Liabilities (Unaudited)	16
Statements of Operations (Unaudited)	20
Statements of Changes in Net Assets	22
Financial Highlights	26
Notes to Financial Statements (Unaudited)	34
Other Information (Unaudited)
Proxy Voting	47
Quarterly Reporting	47
Trustees’ Approval of Investment Advisory Contracts	47
Fund Expenses	50

This material must be preceded or accompanied by a current prospectus (or summary prospectus, if available) for the MML Series Investment Fund. Investors should consider a Fund’s investment objective, risks, and charges and expenses carefully before investing. This and other information about the investment company is available in the prospectus (or summary prospectus, if available). Read it carefully before investing.

MML Series Investment Fund – President’s Letter to Shareholders (Unaudited)

To Our Shareholders

Tina Wilson

“The diversified suite of investment options we provide in our MML Series Investment Fund taps into the deep expertise of seasoned asset managers who are committed to helping you prepare for a stronger financial future.”

June 30, 2017

Welcome to the MML Series Investment Fund Semiannual Report, covering the six months from January 1, 2017 to June 30, 2017.

Market Highlights

• During the period, U.S. stocks and bonds delivered some of the best first-half-year results investors have seen since 2009.

• Market momentum surged throughout the first five months of the period, but lagged in June.

• Large-cap stocks outperformed small caps, and growth stocks beat their value counterparts.

• All market sectors except energy delivered positive returns for the period.

• The U.S. Federal Reserve (the “Fed”) raised short-term interest rates twice during the period, a move some investors viewed as the end of ultra-cheap money.

• Factors to watch during the last half of 2017 include the Republican administration’s ability to implement policy, corporate earnings, and continued global market momentum.

Market Environment

Stocks and bonds delivered some of the best first-half-year results investors have seen since 2009. Most of the major domestic and global indexes logged positive returns for the period. However, enthusiasm that powered the market early in the first half of 2017 flattened out as the period ended. The S&P 500^® Index* tells the story for the U.S. equity markets. The index returned 9.34 percent for the period and crossed multiple record-high closings on the way. Nearly two-thirds of that growth occurred in the first three months of the year, building on a strong fourth quarter in 2016. However, growth slowed to add just 3.27 percent during the last three months of the period, with the month of June adding only 0.06 percent to the total.

Multiple secular factors affected domestic markets during the reporting period. The new Republican administration picked health care reform as its first policy target, but failed on multiple tries to garner enough votes for passage. As a result, investor optimism about the administration’s ability to implement meaningful policy change has weakened. The Fed raised short-term interest rates twice – in March and June. Neither hike caused undue turbulence, but concerns about how many more and how fast continues to nag investors. Corporate earnings reports for the fourth quarter of 2016 and the first quarter of 2017 offered investors hope that valuations – already deemed high – still had room to run. Oil prices remained above $50 per barrel for much of the period, but dropped in June on concerns of oversupply and of OPEC’s inability to rein in production being offset by U.S. domestic shale fields.

Outside of the U.S., central bankers in Europe and Asia continue to keep a tight hand on fiscal stimulus levers as economies around the globe showed signs of gaining traction. British Prime Minister Theresa May failed in her attempt to gain more seats in Parliament, casting a shadow over

* Indexes are unmanaged, do not incur fees or expenses and cannot be purchased directly for investment.

(Continued)

1

MML Series Investment Fund – President’s Letter to Shareholders (Unaudited) (Continued)

the looming Brexit proceedings. (“Brexit” – an abbreviation for “British exit” – was the United Kingdom’s surprising June 23, 2016 referendum to leave the EU.) While Great Britain saw a spike in uncertainty after June’s snap election (a “snap election” is an election called earlier than expected), European markets gained momentum during the first half of 2017. Asian markets were notable for their lack of volatility and headlines during the period. Emerging markets, as measured by the MSCI Emerging Markets Index*, delivered an 18.43 percent return for the reporting period.

As is often the case, markets rise unevenly. If 2016 was the year for value stocks, 2017 is so far proving to favor growth stocks. Large- and small-cap growth stocks have outperformed their value counterparts by nearly 10 percent for the period. Similarly, the markets favored large-cap stocks over their small-cap brethren. At the S&P 500 sector level, returns across all market sectors except energy and telecommunications were positive for the first half of 2017. Information technology and health care outperformed, gaining 17.1 percent and 16.1 percent, respectively. The energy sector, dragged down by falling oil prices, underperformed, losing 12.6 percent year to date.

Along with investors’ “risk on” attitude toward equity markets, the Fed rate hikes exerted pressure on bond prices. As the Fed raised short-term rates in June, investors began realizing that the era of ultra-cheap money may be ending, which triggered a late June sell-off that pushed yields higher. (Bond yields rise inversely to bond prices.) The yield on the bellwether 10-year U.S. Treasury ended the period at 2.35 percent. Investment-grade and high-yield corporate bonds diverged significantly, as U.S. high-yield corporate bonds bucked the investment-grade bond market trend and posted gains for the reporting period.

For the second half of 2017, we will be watching for signs that the Republican administration’s infrastructure policies are gaining traction and that corporate earnings continue to point toward sustainable corporate growth. We will also pay attention to inflation, interest rates, and continued economic momentum around the globe.

Review and maintain your strategy

MassMutual renewed its commitment to helping people secure their financial future and protect the ones they love in May 2017 with a new brand presence. Please visit MassMutual.com to learn more about MassMutual and how we can help you.

Because we are people helping people, we would like to remind you that, as a long-term investor, it’s important to maintain perspective and have realistic expectations about the future performance of your investment accounts. The diversified suite of investment options we provide in our MML Series Investment Fund taps into the deep expertise of seasoned asset managers who are committed to helping you prepare for a stronger financial future.

Many of our clients find that working with a personal financial professional can help them define an investment strategy that aligns with how comfortable they are with market volatility, how long they have to save and invest, and their specific financial goals. You may find it valuable to seek out a financial advisor to help you. If you are already working with such an advisor, this may be a good time to re-evaluate your current investment strategy and investment allocations – and to make any adjustments you feel may be needed.

As always, we thank you for your confidence in MassMutual.

Sincerely,

Tina Wilson

President

The information provided is the opinion of MassMutual U.S. Product and Marketing as of 7/1/17 and is subject to change without notice. It is not to be construed as tax, legal, or investment advice. Of course, past performance does not guarantee future results.

2

MML Allocation Fund Series – Portfolio Summaries (Unaudited)

What are the investment approaches of the Funds that constitute the MML Allocation Series (the “Series”), and who is the Series’ investment adviser?

The MML Allocation Series comprises five Funds – each of which has a “fund of funds” structure. The five Funds in the Series are MML Conservative Allocation Fund, MML Balanced Allocation Fund, MML Moderate Allocation Fund, MML Growth Allocation Fund, and MML Aggressive Allocation Fund.

Each Fund seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital, and recognition of the Fund’s stated asset allocation. Each Fund invests in a combination of domestic and international mutual funds (“MML Underlying Funds”) using an asset allocation strategy. MML Underlying Funds can include series of the MML Series Investment Fund and MML Series Investment Fund II (which are advised by MML Investment Advisers, LLC (MML Advisers), Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (OFI Global Asset Management), a majority owned, indirect subsidiary of MassMutual), and non-affiliated funds. The Series’ investment adviser is MML Advisers.

Through their investment in MML Underlying Funds, the Funds may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high-yield” bonds, including securities in default), inflation-protected securities, bank loans, commodities, real estate, and short-term investments of any kind.

Each Fund’s assets are allocated to its MML Underlying Funds according to an asset allocation strategy stated below. However, a portion of each Fund’s allocation to equity and/or fixed income funds may be allocated to funds that invest in “alternative” investments, such as commodities, precious metals, real estate, and foreign currencies; such “alternative” investments are limited to 15% of the Fund’s total assets.

• MML Conservative Allocation Fund: Approximately 35% to 45% in equity funds and 55% to 65% in fixed income funds, including money market funds.

• MML Balanced Allocation Fund: Approximately 45% to 55% in equity funds and 45% to 55% in fixed income funds, including money market funds.

• MML Moderate Allocation Fund: Approximately 55% to 65% in equity funds and 35% to 45% in fixed income funds, including money market funds.

• MML Growth Allocation Fund: Approximately 70% to 80% in equity funds and 20% to 30% in fixed income funds, including money market funds.

• MML Aggressive Allocation Fund: Approximately 85% to 95% in equity funds and 5% to 15% in fixed income funds, including money market funds.

3

MML Allocation Fund Series – Portfolio Summaries (Unaudited)

MML Conservative Allocation Fund Asset Allocation (% of Net Assets) on 6/30/17
Fixed Income Funds	60.4	%
Equity Funds	39.7	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

MML Moderate Allocation Fund Asset Allocation (% of Net Assets) on 6/30/17
Equity Funds	59.8	%
Fixed Income Funds	40.3	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

MML Balanced Allocation Fund Asset Allocation (% of Net Assets) on 6/30/17
Fixed Income Funds	50.3	%
Equity Funds	49.8	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

MML Growth Allocation Fund Asset Allocation (% of Net Assets) on 6/30/17
Equity Funds	74.8	%
Fixed Income Funds	25.3	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

MML Aggressive Allocation Fund Asset Allocation (% of Net Assets) on 6/30/17
Equity Funds	89.9	%
Fixed Income Funds	10.2	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

4

MML American Funds Growth Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML American Funds^® Growth Fund, and who is the Fund’s investment adviser?

The Fund seeks to provide investors with growth of capital through a “master feeder” relationship. (See page 34 of this report for information about the “master feeder” relationship.) The Fund invests all of its assets in Class 1 shares of the American Funds Insurance Series – Growth Fund (the “Master Growth Fund”), a series of the American Funds Insurance Series^®, a registered open-end investment company, managed by Capital Research and Management Company (Capital Research), which has substantially the same investment objective. The Master Growth Fund invests primarily in common stocks and seeks to invest in companies that appear to offer superior opportunities for growth of capital. The Master Growth Fund may invest up to 25% of its assets in common stocks and other securities of issuers domiciled outside the United States. The Master Growth Fund may hold a portion of its assets in cash or cash equivalents. The Fund’s investment adviser is MML Investment Advisers, LLC (MML Advisers).

MML American Funds Growth Fund Asset Allocation (% of Net Assets) on 6/30/17
Equity Funds	100.1	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

5

MML American Funds International Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML American Funds^® International Fund, and who is the Fund’s investment adviser?

The Fund seeks long-term capital growth of assets through a “master-feeder” relationship. (See page 34 of this report for information about the “master feeder” relationship.) The Fund invests all of its assets in Class 1 shares of the American Funds Insurance Series – International Fund (the “Master International Fund”), a series of the American Funds Insurance Series^®, a registered open-end investment company managed by Capital Research and Management Company (Capital Research), which has substantially the same investment objective. The Master International Fund invests primarily in common stocks of companies domiciled outside the United States, including companies domiciled in developing countries, that Capital Research believes have the potential for growth. The Master International Fund may hold a portion of its assets in cash or cash equivalents. The Fund’s investment adviser is MML Investment Advisers, LLC (MML Advisers).

MML American Funds International Fund Asset Allocation (% of Net Assets) on 6/30/17
Equity Funds	100.1	%
Total Long-Term Investments	100.1	%
Other Assets and Liabilities	(0.1	)%
Net Assets	100.0	%

6

MML American Funds Core Allocation Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML American Funds Core Allocation Fund, and who is the Fund’s investment adviser?

The Fund seeks to achieve as high a total return over time as is considered consistent with prudent investment risk, preservation of capital, and recognition of the Fund’s stated asset allocation. The Fund is a “fund of funds” and seeks to achieve its investment objective by principally investing in a combination of series of the American Funds Insurance Series^® (the “American Underlying Funds”), managed by Capital Research and Management Company (Capital Research), using a flexible asset allocation approach. The Fund’s investment adviser invests the Fund’s assets in a combination of domestic and international American Underlying Funds. As of the date of this report, it is expected that the American Underlying Funds will include Class 1 shares of the American Funds Insurance Series – Bond Fund, the American Funds Insurance Series – Blue Chip Income and Growth Fund, the American Funds Insurance Series – Growth-Income Fund, and the American Funds Insurance Series – International Fund. The Fund’s investment adviser allocates the Fund’s assets among a variety of different asset classes through investing in American Underlying Funds in response to changing market, economic, and investment conditions. The Fund’s investment adviser is MML Investment Advisers, LLC (MML Advisers).

MML American Funds Core Allocation Fund Asset Allocation (% of Net Assets) on 6/30/17
Equity Funds	65.1	%
Fixed Income Funds	35.0	%
Total Long-Term Investments	100.1	%
Other Assets & Liabilities	(0.1	)%
Net Assets	100.0	%

7

MML Conservative Allocation Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 39.7%
MML Blue Chip Growth Fund, Initial Class (a)		680,919	$	11,344,116
MML Equity Income Fund, Initial Class (a)		1,003,029		12,477,686
MML Equity Index Fund, Class III (a)		421,944		12,223,714
MML Focused Equity Fund, Class II (a)		224,531		3,325,308
MML Foreign Fund, Initial Class (a)		909,748		9,707,010
MML Fundamental Growth Fund, Class II (a)		642,973		8,345,785
MML Fundamental Value Fund, Class II (a)		807,800		12,609,756
MML Global Fund, Class I (a)		944,085		12,612,979
MML Income & Growth Fund, Initial Class (a)		1,045,922		13,199,532
MML International Equity Fund, Class II (a)		698,499		7,620,628
MML Large Cap Growth Fund, Initial Class (a)		319,135		4,008,337
MML Mid Cap Growth Fund, Initial Class (a)		485,768		7,995,744
MML Mid Cap Value Fund, Initial Class (a)		809,909		9,945,685
MML Small Cap Growth Equity Fund, Initial Class (a)		168,694		2,377,022
MML Small Company Value Fund, Class II (a)		265,932		4,645,840
MML Small/Mid Cap Value Fund, Initial Class (a)		176,839		2,374,954
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares (a)		36,714		2,750,644
Oppenheimer Global Fund/VA, Non-Service Shares (a)		190,622		7,933,698
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares (a)		3,127,108		30,802,009
Oppenheimer International Growth Fund/VA, Non-Service Shares (a)		2,917,319		6,884,872
Oppenheimer Main Street Fund/VA, Non-Service Shares (a)		87,544		2,645,571
				185,830,890
Fixed Income Funds — 60.4%
MML Dynamic Bond Fund, Class II (a)		6,652,532		66,924,469
MML High Yield Fund, Class II (a)		1,446,263		14,968,818
MML Inflation-Protected and Income Fund, Initial Class (a)		1,922,721		19,650,205

	Number of Shares		Value
MML Managed Bond Fund, Initial Class (a)		7,780,730	$	97,306,931
MML Short-Duration Bond Fund, Class II (a)		2,523,504		24,856,511
MML Total Return Bond Fund, Class II (a)		5,607,629		58,711,878
				282,418,812
TOTAL MUTUAL FUNDS (Cost $460,419,881)				468,249,702
TOTAL LONG-TERM INVESTMENTS (Cost $460,419,881)				468,249,702
TOTAL INVESTMENTS — 100.1% (Cost $460,419,881) (b)				468,249,702
Other Assets/(Liabilities) — (0.1)%				(340,819	)
NET ASSETS — 100.0%			$	467,908,883

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer. See Note 7 for a summary of transactions in the investments of affiliated issuers.

(b) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

8

MML Balanced Allocation Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 49.8%
MML Blue Chip Growth Fund, Initial Class (a)		1,085,309	$	18,081,242
MML Equity Income Fund, Initial Class (a)		1,598,526		19,885,665
MML Equity Index Fund, Class III (a)		606,013		17,556,207
MML Focused Equity Fund, Class II (a)		277,982		4,116,920
MML Foreign Fund, Initial Class (a)		1,635,207		17,447,661
MML Fundamental Growth Fund, Class II (a)		1,133,132		14,708,052
MML Fundamental Value Fund, Class II (a)		1,263,380		19,721,360
MML Global Fund, Class I (a)		1,411,338		18,855,471
MML Income & Growth Fund, Initial Class (a)		1,613,809		20,366,271
MML International Equity Fund, Class II (a)		1,327,790		14,486,192
MML Large Cap Growth Fund, Initial Class (a)		508,949		6,392,397
MML Mid Cap Growth Fund, Initial Class (a)		903,908		14,878,323
MML Mid Cap Value Fund, Initial Class (a)		1,376,114		16,898,684
MML Small Cap Growth Equity Fund, Initial Class (a)		308,939		4,353,187
MML Small Company Value Fund, Class II (a)		399,499		6,979,242
MML Small/Mid Cap Value Fund, Initial Class (a)		344,347		4,624,584
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares (a)		68,297		5,116,840
Oppenheimer Global Fund/VA, Non-Service Shares (a)		283,093		11,782,338
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares (a)		4,286,651		42,223,515
Oppenheimer International Growth Fund/VA, Non-Service Shares (a)		6,243,701		14,735,134
Oppenheimer Main Street Fund/VA, Non-Service Shares (a)		139,823		4,225,447
				297,434,732
Fixed Income Funds — 50.3%
MML Dynamic Bond Fund, Class II (a)		6,565,211		66,046,023
MML High Yield Fund, Class II (a)		1,551,867		16,061,824
MML Inflation-Protected and Income Fund, Initial Class (a)		2,140,632		21,877,263

	Number of Shares		Value
MML Managed Bond Fund, Initial Class (a)		8,379,659	$	104,797,224
MML Short-Duration Bond Fund, Class II (a)		2,934,904		28,908,809
MML Total Return Bond Fund, Class II (a)		5,956,023		62,359,562
				300,050,705
TOTAL MUTUAL FUNDS (Cost $586,089,174)				597,485,437
TOTAL LONG-TERM INVESTMENTS (Cost $586,089,174)				597,485,437
TOTAL INVESTMENTS — 100.1% (Cost $586,089,174) (b)				597,485,437
Other Assets/(Liabilities) — (0.1)%				(423,714	)
NET ASSETS — 100.0%			$	597,061,723

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer. See Note 7 for a summary of transactions in the investments of affiliated issuers.

(b) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

9

MML Moderate Allocation Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 59.8%
MML Blue Chip Growth Fund, Initial Class (a)		5,215,911	$	86,897,071
MML Equity Income Fund, Initial Class (a)		7,756,527		96,491,190
MML Equity Index Fund, Class III (a)		2,863,790		82,963,982
MML Focused Equity Fund, Class II (a)		1,867,472		27,657,266
MML Foreign Fund, Initial Class (a)		8,426,888		89,914,890
MML Fundamental Growth Fund, Class II (a)		4,902,044		63,628,536
MML Fundamental Value Fund, Class II (a)		6,159,925		96,156,422
MML Global Fund, Class I (a)		6,717,769		89,749,389
MML Income & Growth Fund, Initial Class (a)		7,683,192		96,961,887
MML International Equity Fund, Class II (a)		7,152,023		78,028,569
MML Large Cap Growth Fund, Initial Class (a)		2,631,998		33,057,891
MML Mid Cap Growth Fund, Initial Class (a)		4,887,948		80,455,619
MML Mid Cap Value Fund, Initial Class (a)		6,981,188		85,728,988
MML Small Cap Growth Equity Fund, Initial Class (a)		1,524,713		21,484,376
MML Small Company Value Fund, Class II (a)		2,180,255		38,089,050
MML Small/Mid Cap Value Fund, Initial Class (a)		1,673,683		22,477,560
MML Strategic Emerging Markets Fund, Class II (a)		4,345,593		44,325,050
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares (a)		340,933		25,542,702
Oppenheimer Global Fund/VA, Non-Service Shares (a)		1,316,360		54,786,915
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares (a)		18,798,089		185,161,175
Oppenheimer International Growth Fund/VA, Non-Service Shares (a)		20,051,652		47,321,898
Oppenheimer Main Street Fund/VA, Non-Service Shares (a)		450,762		13,622,024
				1,460,502,450

	Number of Shares		Value
Fixed Income Funds — 40.3%
MML Dynamic Bond Fund, Class II (a)		21,555,122	$	216,844,531
MML High Yield Fund, Class II (a)		5,081,370		52,592,176
MML Inflation-Protected and Income Fund, Initial Class (a)		7,477,094		76,415,900
MML Managed Bond Fund, Initial Class (a)		26,853,353		335,831,903
MML Short-Duration Bond Fund, Class II (a)		10,252,547		100,987,590
MML Total Return Bond Fund, Class II (a)		19,239,362		201,436,118
				984,108,218
TOTAL MUTUAL FUNDS (Cost $2,376,587,050)				2,444,610,668
TOTAL LONG-TERM INVESTMENTS (Cost $2,376,587,050)				2,444,610,668
TOTAL INVESTMENTS — 100.1% (Cost $2,376,587,050) (b)				2,444,610,668
Other Assets/(Liabilities) — (0.1)%				(1,733,502	)
NET ASSETS — 100.0%			$	2,442,877,166

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer. See Note 7 for a summary of transactions in the investments of affiliated issuers.

(b) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

10

MML Growth Allocation Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 74.8%
MML Blue Chip Growth Fund, Initial Class (a)		4,341,279	$	72,325,703
MML Equity Income Fund, Initial Class (a)		6,511,436		81,002,265
MML Equity Index Fund, Class III (a)		2,531,445		73,335,965
MML Focused Equity Fund, Class II (a)		1,632,235		24,173,408
MML Foreign Fund, Initial Class (a)		7,340,481		78,322,937
MML Fundamental Growth Fund, Class II (a)		3,596,685		46,684,971
MML Fundamental Value Fund, Class II (a)		5,171,796		80,731,739
MML Global Fund, Class I (a)		5,570,679		74,424,269
MML Income & Growth Fund, Initial Class (a)		6,472,729		81,685,846
MML International Equity Fund, Class II (a)		6,436,523		70,222,468
MML Large Cap Growth Fund, Initial Class (a)		2,240,496		28,140,633
MML Mid Cap Growth Fund, Initial Class (a)		4,511,158		74,253,658
MML Mid Cap Value Fund, Initial Class (a)		5,953,520		73,109,228
MML Small Cap Growth Equity Fund, Initial Class (a)		1,262,764		17,793,312
MML Small Company Value Fund, Class II (a)		1,863,426		32,554,053
MML Small/Mid Cap Value Fund, Initial Class (a)		1,886,405		25,334,418
MML Strategic Emerging Markets Fund, Class II (a)		4,481,081		45,707,028
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares (a)		326,915		24,492,481
Oppenheimer Global Fund/VA, Non-Service Shares (a)		1,123,963		46,779,341
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares (a)		14,163,698		139,512,421
Oppenheimer International Growth Fund/VA, Non-Service Shares (a)		17,509,510		41,322,443
Oppenheimer Main Street Fund/VA, Non-Service Shares (a)		650,563		19,660,010
				1,251,568,597

	Number of Shares		Value
Fixed Income Funds — 25.3%
MML Dynamic Bond Fund, Class II (a)		8,568,023	$	86,194,307
MML High Yield Fund, Class II (a)		1,301,923		13,474,903
MML Inflation-Protected and Income Fund, Initial Class (a)		6,467,300		66,095,808
MML Managed Bond Fund, Initial Class (a)		10,500,009		131,314,622
MML Short-Duration Bond Fund, Class II (a)		4,822,419		47,500,826
MML Total Return Bond Fund, Class II (a)		7,561,782		79,171,852
				423,752,318
TOTAL MUTUAL FUNDS (Cost $1,584,768,468)				1,675,320,915
TOTAL LONG-TERM INVESTMENTS (Cost $1,584,768,468)				1,675,320,915
TOTAL INVESTMENTS — 100.1% (Cost $1,584,768,468) (b)				1,675,320,915
Other Assets/(Liabilities) — (0.1)%				(1,022,078	)
NET ASSETS — 100.0%			$	1,674,298,837

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer. See Note 7 for a summary of transactions in the investments of affiliated issuers.

(b) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

11

MML Aggressive Allocation Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 89.9%
MML Blue Chip Growth Fund, Initial Class (a)		481,042	$	8,014,153
MML Equity Income Fund, Initial Class (a)		671,696		8,355,896
MML Equity Index Fund, Class III (a)		241,002		6,981,817
MML Focused Equity Fund, Class II (a)		173,615		2,571,231
MML Foreign Fund, Initial Class (a)		788,632		8,414,704
MML Fundamental Growth Fund, Class II (a)		297,569		3,862,439
MML Fundamental Value Fund, Class II (a)		534,802		8,348,256
MML Global Fund, Class I (a)		638,510		8,530,492
MML Income & Growth Fund, Initial Class (a)		670,313		8,459,346
MML International Equity Fund, Class II (a)		675,151		7,365,903
MML Large Cap Growth Fund, Initial Class (a)		238,202		2,991,817
MML Mid Cap Growth Fund, Initial Class (a)		515,627		8,487,229
MML Mid Cap Value Fund, Initial Class (a)		672,741		8,261,259
MML Small Cap Growth Equity Fund, Initial Class (a)		161,016		2,268,841
MML Small Company Value Fund, Class II (a)		213,934		3,737,424
MML Small/Mid Cap Value Fund, Initial Class (a)		209,359		2,811,687
MML Strategic Emerging Markets Fund, Class II (a)		536,702		5,474,357
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares (a)		39,145		2,932,712
Oppenheimer Global Fund/VA, Non-Service Shares (a)		119,897		4,990,112
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares (a)		1,357,082		13,367,258
Oppenheimer International Growth Fund/VA, Non-Service Shares (a)		1,688,759		3,985,471
Oppenheimer Main Street Fund/VA, Non-Service Shares (a)		99,838		3,017,117
				133,229,521
Fixed Income Funds — 10.2%
MML Dynamic Bond Fund, Class II (a)		227,995		2,293,634

	Number of Shares		Value
MML Inflation-Protected and Income Fund, Initial Class (a)		377,876	$	3,861,892
MML Managed Bond Fund, Initial Class (a)		288,601		3,609,280
MML Short-Duration Bond Fund, Class II (a)		325,263		3,203,839
MML Total Return Bond Fund, Class II (a)		204,234		2,138,330
				15,106,975
TOTAL MUTUAL FUNDS (Cost $141,062,844)				148,336,496
TOTAL LONG-TERM INVESTMENTS (Cost $141,062,844)				148,336,496
TOTAL INVESTMENTS — 100.1% (Cost $141,062,844) (b)				148,336,496
Other Assets/(Liabilities) — (0.1)%				(99,600	)
NET ASSETS — 100.0%			$	148,236,896

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer. See Note 7 for a summary of transactions in the investments of affiliated issuers.

(b) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

12

MML American Funds Growth Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 100.1%
American Funds Growth Fund, Class 1		2,250,491	$	157,714,431
TOTAL MUTUAL FUNDS (Cost $150,020,793)				157,714,431
TOTAL LONG-TERM INVESTMENTS (Cost $150,020,793)				157,714,431
TOTAL INVESTMENTS — 100.1% (Cost $150,020,793) (a)				157,714,431
Other Assets/(Liabilities) — (0.1)%				(179,321	)
NET ASSETS — 100.0%			$	157,535,110

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

13

MML American Funds International Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 100.1%
American Funds International Fund, Class 1		3,136,452	$	61,694,015
TOTAL MUTUAL FUNDS (Cost $56,903,538)				61,694,015
TOTAL LONG-TERM INVESTMENTS (Cost $56,903,538)				61,694,015
TOTAL INVESTMENTS — 100.1% (Cost $56,903,538) (a)				61,694,015
Other Assets/(Liabilities) — (0.1)%				(80,499	)
NET ASSETS — 100.0%			$	61,613,516

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

14

MML American Funds Core Allocation Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 65.1%
American Funds Blue Chip Income and Growth Fund, Class 1		17,726,801	$	243,566,250
American Funds Growth-Income Fund, Class 1		6,489,752		295,737,997
American Funds International Fund, Class 1		6,877,362		135,277,713
				674,581,960
Fixed Income Funds — 35.0%
American Funds Bond Fund, Class 1		33,440,972		363,168,956
TOTAL MUTUAL FUNDS (Cost $995,502,517)				1,037,750,916
TOTAL LONG-TERM INVESTMENTS (Cost $995,502,517)				1,037,750,916
TOTAL INVESTMENTS — 100.1% (Cost $995,502,517) (a)				1,037,750,916
Other Assets/(Liabilities) — (0.1)%				(1,128,637	)
NET ASSETS — 100.0%			$	1,036,622,279

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

15

MML Series Investment Fund – Financial Statements

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Conservative Allocation Fund		MML Balanced Allocation Fund
Assets:
Investments, at value — unaffiliated issuers (Note 2) (a)	$	-	$	-
Investments, at value — affiliated issuers (Note 2 & 7) (b)		468,249,702		597,485,437
Total investments		468,249,702		597,485,437
Receivables from:
Investments sold		13,565		9,372
Investment adviser (Note 3)		-		-
Fund shares sold		354,155		212,367
Total assets		468,617,422		597,707,176
Liabilities:
Payables for:
Investments purchased		173,929		87,847
Fund shares repurchased		191,658		131,190
Trustees’ fees and expenses (Note 3)		52,220		62,433
Affiliates (Note 3):
Investment advisory fees		38,690		49,261
Administration fees		-		-
Service fees		222,697		283,604
Accrued expense and other liabilities		29,345		31,118
Total liabilities		708,539		645,453
Net assets	$	467,908,883	$	597,061,723
Net assets consist of:
Paid-in capital	$	440,436,367	$	546,542,169
Undistributed (accumulated) net investment income (loss)		11,247,327		12,346,539
Accumulated net realized gain (loss) on investments and foreign currency transactions		8,395,368		26,776,752
Net unrealized appreciation (depreciation) on investments and foreign currency translations		7,829,821		11,396,263
Net assets	$	467,908,883	$	597,061,723
(a)        Cost of investments — unaffiliated issuers:	$	-	$	-
(b)        Cost of investments — affiliated issuers:	$	460,419,881	$	586,089,174

The accompanying notes are an integral part of the financial statements.

16

MML Moderate Allocation Fund		MML Growth Allocation Fund		MML Aggressive Allocation Fund		MML American Funds Growth Fund		MML American Funds International Fund		MML American Funds Core Allocation Fund
$	-	$	-	$	-	$	157,714,431	$	61,694,015	$	1,037,750,916
	2,444,610,668		1,675,320,915		148,336,496		-		-		-
	2,444,610,668		1,675,320,915		148,336,496		157,714,431		61,694,015		1,037,750,916
	23,392		385,150		76,713		1,275,394		1,061,446		-
	-		-		-		-		842		-
	479,300		40,610		17,222		19,811		49,421		488,167
	2,445,113,360		1,675,746,675		148,430,431		159,009,636		62,805,724		1,038,239,083
	168,524		-		-		-		-		407,070
	323,082		418,154		93,269		1,294,496		1,110,590		76,445
	221,045		191,673		12,487		11,972		6,269		80,348
	201,806		138,407		12,200		19,718		7,748		164,764
	-		-		-		32,863		12,913		213,361
	1,257,366		648,925		52,263		97,244		38,137		637,757
	64,371		50,679		23,316		18,233		16,551		37,059
	2,236,194		1,447,838		193,535		1,474,526		1,192,208		1,616,804
$	2,442,877,166	$	1,674,298,837	$	148,236,896	$	157,535,110	$	61,613,516	$	1,036,622,279
$	2,192,429,915	$	1,413,091,957	$	131,100,244	$	117,434,206	$	49,868,641	$	850,375,165
	45,346,559		25,592,539		1,659,779		199,564		508,991		15,254,897
	137,077,074		145,061,894		8,203,221		32,207,702		6,445,407		128,743,818
	68,023,618		90,552,447		7,273,652		7,693,638		4,790,477		42,248,399
$	2,442,877,166	$	1,674,298,837	$	148,236,896	$	157,535,110	$	61,613,516	$	1,036,622,279
$	-	$	-	$	-	$	150,020,793	$	56,903,538	$	995,502,517
$	2,376,587,050	$	1,584,768,468	$	141,062,844	$	-	$	-	$	-

17

MML Series Investment Fund – Financial Statements (Continued)

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Conservative Allocation Fund		MML Balanced Allocation Fund
Initial Class shares:
Net assets	$	109,868,833	$	138,607,442
Shares outstanding (a)		10,838,099		13,450,967
Net asset value, offering price and redemption price per share	$	10.14	$	10.30
Service Class shares:
Net assets	$	358,040,050	$	458,454,281
Shares outstanding (a)		35,709,233		44,909,848
Net asset value, offering price and redemption price per share	$	10.03	$	10.21
Service Class I shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-

(a) Authorized unlimited number of shares with no par value.

The accompanying notes are an integral part of the financial statements.

18

MML Moderate Allocation Fund		MML Growth Allocation Fund		MML Aggressive Allocation Fund		MML American Funds Growth Fund		MML American Funds International Fund		MML American Funds Core Allocation Fund
$	419,102,296	$	631,371,189	$	62,736,616	$	-	$	-	$	-
	37,697,412		63,593,740		5,911,601		-		-		-
$	11.12	$	9.93	$	10.61	$	-	$	-	$	-
$	2,023,774,870	$	1,042,927,648	$	85,500,280	$	-	$	-	$	-
	184,089,024		105,949,156		8,165,394		-		-		-
$	10.99	$	9.84	$	10.47	$	-	$	-	$	-
$	-	$	-	$	-	$	157,535,110	$	61,613,516	$	1,036,622,279
	-		-		-		11,094,791		5,707,077		81,117,892
$	-	$	-	$	-	$	14.20	$	10.80	$	12.78

19

MML Series Investment Fund – Financial Statements (Continued)

Statements of Operations

For the Six Months Ended June 30, 2017 (Unaudited)

	MML Conservative Allocation Fund			MML Balanced Allocation Fund
Investment income (Note 2):
Dividends — unaffiliated issuers	$	-		$	-
Dividends — affiliated issuers (Note 7)		2,503,115			2,854,692
Interest		-			-
Total investment income		2,503,115			2,854,692
Expenses (Note 3):
Investment advisory fees		233,827			291,589
Custody fees		11,485			11,489
Audit fees		15,346			15,388
Legal fees		2,170			2,599
Proxy fees		485			485
Shareholder reporting fees		5,669			6,582
Trustees’ fees		13,176			15,796
		282,158			343,928
Administration fees:
Service Class I		-			-
Service fees:
Service Class		445,939			558,155
Service Class I		-			-
Total expenses		728,097			902,083
Expenses waived (Note 3):
Service Class I fees reimbursed by adviser		-			-
Net expenses		728,097			902,083
Net investment income (loss)		1,775,018			1,952,609
Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions — unaffiliated issuers		50			-
Investment transactions — affiliated issuers (Note 7)		(1,717,088	)		2,904,356
Realized gain distributions — unaffiliated issuers		-			-
Realized gain distributions — affiliated issuers (Note 7)		577,671			841,861
Net realized gain (loss)		(1,139,367	)		3,746,217
Net change in unrealized appreciation (depreciation) on:
Investment transactions — unaffiliated issuers		-			-
Investment transactions — affiliated issuers		23,281,356			28,946,182
Net change in unrealized appreciation (depreciation)		23,281,356			28,946,182
Net realized gain (loss) and change in unrealized appreciation (depreciation)		22,141,989			32,692,399
Net increase (decrease) in net assets resulting from operations	$	23,917,007		$	34,645,008

The accompanying notes are an integral part of the financial statements.

20

MML Moderate Allocation Fund		MML Growth Allocation Fund		MML Aggressive Allocation Fund			MML American Funds Growth Fund			MML American Funds International Fund			MML American Funds Core Allocation Fund
$	-	$	-	$	-		$	252,093		$	214,299		$	4,234,419
	9,908,150		5,363,618		361,956			-			-			-
	-		-		-			-			-			1
	9,908,150		5,363,618		361,956			252,093			214,299			4,234,420
	1,201,516		821,606		70,441			112,725			44,322			962,882
	11,994		12,014		11,989			1,097			1,097			3,308
	16,053		15,784		15,222			15,224			15,193			15,506
	10,329		6,979		568			579			248			3,872
	485		485		485			486			485			485
	24,098		16,529		2,357			3,376			1,979			15,088
	65,466		44,277		3,597			3,798			1,555			25,365
	1,329,941		917,674		104,659			137,285			64,879			1,026,506
	-		-		-			187,876			73,871			1,242,716
	2,487,244		1,280,084		100,084			-			-			-
	-		-		-			187,876			73,870			1,242,716
	3,817,185		2,197,758		204,743			513,037			212,620			3,511,938
	-		-		-			-			(5,784	)		-
	3,817,185		2,197,758		204,743			513,037			206,836			3,511,938
	6,090,965		3,165,860		157,213			(260,944	)		7,463			722,482
	587		9		-			2,952,046			610,001			23,236,178
	22,131,715		30,817,142		(15,096	)		-			-			-
	-		-		-			15,027,196			718,531			34,503,851
	3,578,696		3,008,022		346,407			-			-			-
	25,710,998		33,825,173		331,311			17,979,242			1,328,532			57,740,029
	-		-		-			2,764,207			8,571,609			8,713,476
	131,599,751		94,585,339		12,399,075			-			-			-
	131,599,751		94,585,339		12,399,075			2,764,207			8,571,609			8,713,476
	157,310,749		128,410,512		12,730,386			20,743,449			9,900,141			66,453,505
$	163,401,714	$	131,576,372	$	12,887,599		$	20,482,505		$	9,907,604		$	67,175,987

21

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Conservative Allocation Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	1,775,018		$	8,815,104
Net realized gain (loss) on investment transactions		(1,139,367	)		11,855,964
Net change in unrealized appreciation (depreciation) on investments		23,281,356			5,658,961
Net increase (decrease) in net assets resulting from operations		23,917,007			26,330,029
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			(2,692,993	)
Service Class		-			(7,810,262	)
Total distributions from net investment income		-			(10,503,255	)
From net realized gains:
Initial Class		-			(5,991,228	)
Service Class		-			(19,296,742	)
Total distributions from net realized gains		-			(25,287,970	)
Net fund share transactions (Note 5):
Initial Class		(8,903,299	)		(2,460,478	)
Service Class		(24,457,288	)		32,960,765
Increase (decrease) in net assets from fund share transactions		(33,360,587	)		30,500,287
Total increase (decrease) in net assets		(9,443,580	)		21,039,091
Net assets
Beginning of period		477,352,463			456,313,372
End of period	$	467,908,883		$	477,352,463
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	11,247,327		$	9,472,309

The accompanying notes are an integral part of the financial statements.

22

MML Balanced Allocation Fund						MML Moderate Allocation Fund						MML Growth Allocation Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	1,952,609		$	9,511,083		$	6,090,965		$	34,983,877		$	3,165,860		$	19,299,811
	3,746,217			24,558,771			25,710,998			117,554,816			33,825,173			116,462,293
	28,946,182			(1,121,085	)		131,599,751			(494,607	)		94,585,339			(23,017,750	)
	34,645,008			32,948,769			163,401,714			152,044,086			131,576,372			112,744,354
	-			(3,170,342	)		-			(8,560,018	)		-			(11,364,240	)
	-			(9,076,660	)		-			(36,427,389	)		-			(16,338,690	)
	-			(12,247,002	)		-			(44,987,407	)		-			(27,702,930	)
	-			(9,368,018	)		-			(28,611,812	)		-			(62,519,828	)
	-			(30,031,130	)		-			(137,512,376	)		-			(104,164,195	)
	-			(39,399,148	)		-			(166,124,188	)		-			(166,684,023	)
	(4,357,984	)		(5,081,384	)		(21,163,415	)		5,105,108			(25,783,813	)		31,458,137
	(6,937,391	)		25,725,103			(80,071,452	)		95,942,271			(40,300,375	)		49,887,306
	(11,295,375	)		20,643,719			(101,234,867	)		101,047,379			(66,084,188	)		81,345,443
	23,349,633			1,946,338			62,166,847			41,979,870			65,492,184			(297,156	)
	573,712,090			571,765,752			2,380,710,319			2,338,730,449			1,608,806,653			1,609,103,809
$	597,061,723		$	573,712,090		$	2,442,877,166		$	2,380,710,319		$	1,674,298,837		$	1,608,806,653
$	12,346,539		$	10,393,930		$	45,346,559		$	39,255,594		$	25,592,539		$	22,426,679

23

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Aggressive Allocation Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	157,213		$	1,189,624
Net realized gain (loss) on investment transactions		331,311			8,516,396
Net change in unrealized appreciation (depreciation) on investments		12,399,075			635,660
Net increase (decrease) in net assets resulting from operations		12,887,599			10,341,680
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			(870,484	)
Service Class		-			(924,943	)
Service Class I		-			-
Total distributions from net investment income		-			(1,795,427	)
From net realized gains:
Initial Class		-			(5,951,535	)
Service Class		-			(7,461,136	)
Service Class I		-			-
Total distributions from net realized gains		-			(13,412,671	)
Net fund share transactions (Note 5):
Initial Class		(1,346,881	)		5,130,219
Service Class		4,641,249			8,398,579
Service Class I		-			-
Increase (decrease) in net assets from fund share transactions		3,294,368			13,528,798
Total increase (decrease) in net assets		16,181,967			8,662,380
Net assets
Beginning of period		132,054,929			123,392,549
End of period	$	148,236,896		$	132,054,929
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	1,659,779		$	1,502,566

The accompanying notes are an integral part of the financial statements.

24

MML American Funds Growth Fund						MML American Funds International Fund						MML American Funds Core Allocation Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)		Year Ended December 31, 2016
$	(260,944	)	$	472,434		$	7,463		$	508,452		$	722,482	$	11,027,800
	17,979,242			14,235,317			1,328,532			5,126,012			57,740,029		74,881,291
	2,764,207			(3,419,681	)		8,571,609			(4,007,082	)		8,713,476		(12,582,717	)
	20,482,505			11,288,070			9,907,604			1,627,382			67,175,987		73,326,374
	-			-			-			-			-		-
	-			-			-			-			-		-
	-			(267,323	)		-			(632,920	)		-		(16,088,756	)
	-			(267,323	)		-			(632,920	)		-		(16,088,756	)
	-			-			-			-			-		-
	-			-			-			-			-		-
	-			(29,068,974	)		-			(3,955,087	)		-		(66,430,452	)
	-			(29,068,974	)		-			(3,955,087	)		-		(66,430,452	)
	-			-			-			-			-		-
	-			-			-			-			-		-
	(2,788,124	)		30,222,393			(2,265,953	)		1,343,819			27,996,389		137,539,582
	(2,788,124	)		30,222,393			(2,265,953	)		1,343,819			27,996,389		137,539,582
	17,694,381			12,174,166			7,641,651			(1,616,806	)		95,172,376		128,346,748
	139,840,729			127,666,563			53,971,865			55,588,671			941,449,903		813,103,155
$	157,535,110		$	139,840,729		$	61,613,516		$	53,971,865		$	1,036,622,279	$	941,449,903
$	199,564		$	460,508		$	508,991		$	501,528		$	15,254,897	$	14,532,415

25

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Conservative Allocation Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assetsw			Net investment income (loss) to average daily net assets
Initial Class
06/30/17r	$	9.63	$	0.05	$	0.46		$	0.51		$	-		$	-		$	-		$	10.14		5.30%	b	$	109,869		0.12%	a		0.95%	a
12/31/16		9.83		0.20		0.37			0.57			(0.24	)		(0.53	)		(0.77	)		9.63		5.78%			112,989		0.12%			2.01%
12/31/15		10.94		0.21		(0.25	)		(0.04	)		(0.32	)		(0.75	)		(1.07	)		9.83		(0.38%	)		117,636		0.12%			1.96%
12/31/14		11.40		0.25		0.33			0.58			(0.29	)		(0.75	)		(1.04	)		10.94		5.13%			131,214		0.13%			2.22%
12/31/13		10.81		0.25		0.93			1.18			(0.26	)		(0.33	)		(0.59	)		11.40		11.32%			141,078		0.13%			2.19%
12/31/12		10.24		0.25		0.90			1.15			(0.21	)		(0.37	)		(0.58	)		10.81		11.40%			140,899		0.13%			2.29%
Service Class
06/30/17r	$	9.53	$	0.03	$	0.47		$	0.50		$	-		$	-		$	-		$	10.03		5.25%	b	$	358,040		0.37%	a		0.70%	a
12/31/16		9.74		0.18		0.35			0.53			(0.21	)		(0.53	)		(0.74	)		9.53		5.48%			364,364		0.37%			1.80%
12/31/15		10.85		0.19		(0.26	)		(0.07	)		(0.29	)		(0.75	)		(1.04	)		9.74		(0.63%	)		338,677		0.37%			1.76%
12/31/14		11.32		0.23		0.31			0.54			(0.26	)		(0.75	)		(1.01	)		10.85		4.83%			342,234		0.38%			2.01%
12/31/13		10.74		0.22		0.93			1.15			(0.24	)		(0.33	)		(0.57	)		11.32		11.07%			326,916		0.38%			1.96%
12/31/12		10.18		0.22		0.90			1.12			(0.19	)		(0.37	)		(0.56	)		10.74		11.15%			295,560		0.38%			2.05%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		5	%		24	%		29	%		33	%		33	%		18	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

w Expenses of the underlying funds are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying fund.

x Amount does not include the portfolio activity of any underlying fund.

The accompanying notes are an integral part of the financial statements.

26

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Balanced Allocation Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assetsw			Net investment income (loss) to average daily net assets
Initial Class
06/30/17r	$	9.70	$	0.04	$	0.56		$	0.60		$	-		$	-		$	-		$	10.30		6.19%	b	$	138,607		0.12%	a		0.86%	a
12/31/16		10.05		0.18		0.43			0.61			(0.24	)		(0.72	)		(0.96	)		9.70		6.15%			134,716		0.12%			1.84%
12/31/15		11.23		0.19		(0.23	)		(0.04	)		(0.31	)		(0.83	)		(1.14	)		10.05		(0.36%	)		144,084		0.12%			1.77%
12/31/14		11.58		0.24		0.38			0.62			(0.25	)		(0.72	)		(0.97	)		11.23		5.35%			167,530		0.12%			2.05%
12/31/13		10.85		0.23		1.29			1.52			(0.28	)		(0.51	)		(0.79	)		11.58		14.49%			164,583		0.13%			1.99%
12/31/12		10.06		0.22		1.01			1.23			(0.19	)		(0.25	)		(0.44	)		10.85		12.40%			148,872		0.13%			2.08%
Service Class
06/30/17r	$	9.62	$	0.03	$	0.56		$	0.59		$	-		$	-		$	-		$	10.21		6.13%	b	$	458,454		0.37%	a		0.61%	a
12/31/16		9.98		0.16		0.42			0.58			(0.22	)		(0.72	)		(0.94	)		9.62		5.82%			438,996		0.37%			1.62%
12/31/15		11.16		0.17		(0.23	)		(0.06	)		(0.29	)		(0.83	)		(1.12	)		9.98		(0.61%	)		427,682		0.37%			1.56%
12/31/14		11.52		0.21		0.37			0.58			(0.22	)		(0.72	)		(0.94	)		11.16		5.07%			430,872		0.37%			1.81%
12/31/13		10.80		0.20		1.28			1.48			(0.25	)		(0.51	)		(0.76	)		11.52		14.23%			393,650		0.38%			1.75%
12/31/12		10.02		0.19		1.01			1.20			(0.17	)		(0.25	)		(0.42	)		10.80		12.12%			312,268		0.38%			1.83%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		8	%		18	%		26	%		23	%		22	%		21	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

w Expenses of the underlying funds are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying fund.

x Amount does not include the portfolio activity of any underlying fund.

The accompanying notes are an integral part of the financial statements.

27

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Moderate Allocation Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assetsw			Net investment income (loss) to average daily net assets
Initial Class
06/30/17r	$	10.38	$	0.04	$	0.70		$	0.74		$	-		$	-		$	-		$	11.12		7.13%	b	$	419,102		0.11%	a		0.71%	a
12/31/16		10.66		0.18		0.54			0.72			(0.23	)		(0.77	)		(1.00	)		10.38		6.89%			411,730		0.11%			1.69%
12/31/15		11.83		0.18		(0.26	)		(0.08	)		(0.28	)		(0.81	)		(1.09	)		10.66		(0.64%	)		416,556		0.11%			1.59%
12/31/14		12.10		0.21		0.47			0.68			(0.21	)		(0.74	)		(0.95	)		11.83		5.61%			465,943		0.11%			1.76%
12/31/13		10.96		0.20		1.66			1.86			(0.21	)		(0.51	)		(0.72	)		12.10		17.57%			465,692		0.12%			1.74%
12/31/12		10.04		0.20		1.11			1.31			(0.16	)		(0.23	)		(0.39	)		10.96		13.17%			410,035		0.12%			1.82%
Service Class
06/30/17r	$	10.28	$	0.02	$	0.69		$	0.71		$	-		$	-		$	-		$	10.99		6.91%	b	$	2,023,775		0.36%	a		0.46%	a
12/31/16		10.57		0.15		0.53			0.68			(0.20	)		(0.77	)		(0.97	)		10.28		6.59%			1,968,981		0.36%			1.45%
12/31/15		11.74		0.16		(0.26	)		(0.10	)		(0.26	)		(0.81	)		(1.07	)		10.57		(0.86%	)		1,922,174		0.36%			1.38%
12/31/14		12.02		0.19		0.46			0.65			(0.19	)		(0.74	)		(0.93	)		11.74		5.37%			1,790,903		0.36%			1.55%
12/31/13		10.89		0.18		1.65			1.83			(0.19	)		(0.51	)		(0.70	)		12.02		17.37%			1,480,843		0.37%			1.51%
12/31/12		9.99		0.17		1.10			1.27			(0.14	)		(0.23	)		(0.37	)		10.89		12.82%			1,060,743		0.37%			1.60%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		6	%		14	%		19	%		19	%		19	%		18	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

w Expenses of the underlying funds are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying fund.

x Amount does not include the portfolio activity of any underlying fund.

The accompanying notes are an integral part of the financial statements.

28

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Growth Allocation Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assetsw			Net investment income (loss) to average daily net assets
Initial Class
06/30/17r	$	9.16	$	0.03	$	0.74		$	0.77		$	-		$	-		$	-		$	9.93		8.41%	b	$	631,371		0.11%	a		0.54%	a
12/31/16		9.69		0.13		0.58			0.71			(0.19	)		(1.05	)		(1.24	)		9.16		7.57%			607,088		0.11%			1.38%
12/31/15		11.28		0.13		(0.21	)		(0.08	)		(0.28	)		(1.23	)		(1.51	)		9.69		(0.71%	)		605,993		0.11%			1.22%
12/31/14		11.80		0.16		0.52			0.68			(0.19	)		(1.01	)		(1.20	)		11.28		5.77%			660,986		0.11%			1.39%
12/31/13		10.66		0.16		2.13			2.29			(0.21	)		(0.94	)		(1.15	)		11.80		22.64%			659,823		0.12%			1.36%
12/31/12		9.53		0.15		1.22			1.37			(0.14	)		(0.10	)		(0.24	)		10.66		14.49%			559,044		0.12%			1.43%
Service Class
06/30/17r	$	9.09	$	0.01	$	0.74		$	0.75		$	-		$	-		$	-		$	9.84		8.25%	b	$	1,042,928		0.36%	a		0.29%	a
12/31/16		9.63		0.11		0.56			0.67			(0.16	)		(1.05	)		(1.21	)		9.09		7.23%			1,001,718		0.36%			1.13%
12/31/15		11.22		0.11		(0.22	)		(0.11	)		(0.25	)		(1.23	)		(1.48	)		9.63		(0.97%	)		1,003,111		0.36%			0.98%
12/31/14		11.74		0.13		0.52			0.65			(0.16	)		(1.01	)		(1.17	)		11.22		5.56%			1,034,580		0.36%			1.14%
12/31/13		10.62		0.13		2.11			2.24			(0.18	)		(0.94	)		(1.12	)		11.74		22.25%			995,436		0.37%			1.11%
12/31/12		9.49		0.12		1.23			1.35			(0.12	)		(0.10	)		(0.22	)		10.62		14.28%			826,960		0.37%			1.18%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		9	%		17	%		22	%		25	%		22	%		27	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

w Expenses of the underlying funds are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying fund.

x Amount does not include the portfolio activity of any underlying fund.

The accompanying notes are an integral part of the financial statements.

29

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Aggressive Allocation Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waiversw			Ratio of expenses to average daily net assets after expense waiversw,j			Net investment income (loss) to average daily net assets
Initial Class
06/30/17r	$	9.67	$	0.02	$	0.92		$	0.94		$	-		$	-		$	-		$	10.61		9.72%	b	$	62,737		0.15%	a		N/A			0.36%	a
12/31/16		10.10		0.11		0.72			0.83			(0.16	)		(1.10	)		(1.26	)		9.67		8.54%			58,438		0.15%			N/A			1.09%
12/31/15		11.86		0.10		(0.20	)		(0.10	)		(0.25	)		(1.41	)		(1.66	)		10.10		(0.84%	)		55,420		0.16%			N/A			0.92%
12/31/14		12.38		0.12		0.60			0.72			(0.14	)		(1.10	)		(1.24	)		11.86		5.85%			57,996		0.17%			N/A			0.98%
12/31/13		10.47		0.11		2.65			2.76			(0.14	)		(0.71	)		(0.85	)		12.38		27.39%			56,721		0.19%			0.19%	l		0.94%
12/31/12		9.12		0.10		1.33			1.43			(0.08	)		-			(0.08	)		10.47		15.73%			45,399		0.20%			0.20%	k		0.98%
Service Class
06/30/17r	$	9.56	$	0.01	$	0.90		$	0.91		$	-		$	-		$	-		$	10.47		9.52%	b	$	85,500		0.40%	a		N/A			0.12%	a
12/31/16		10.00		0.08		0.72			0.80			(0.14	)		(1.10	)		(1.24	)		9.56		8.28%			73,617		0.40%			N/A			0.84%
12/31/15		11.76		0.08		(0.21	)		(0.13	)		(0.22	)		(1.41	)		(1.63	)		10.00		(1.07%	)		67,973		0.41%			N/A			0.69%
12/31/14		12.29		0.09		0.59			0.68			(0.11	)		(1.10	)		(1.21	)		11.76		5.61%			62,711		0.42%			N/A			0.77%
12/31/13		10.40		0.08		2.64			2.72			(0.12	)		(0.71	)		(0.83	)		12.29		27.15%			51,320		0.44%			0.44%	l		0.74%
12/31/12		9.07		0.07		1.32			1.39			(0.06	)		-			(0.06	)		10.40		15.35%			34,472		0.45%			0.45%	k		0.72%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		13	%		19	%		22	%		31	%		27	%		35	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

k Amount waived had no impact on the ratio of expenses to average daily net assets.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

w Expenses of the underlying funds are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying fund.

x Amount does not include the portfolio activity of any underlying fund.

The accompanying notes are an integral part of the financial statements.

30

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML American Funds Growth Fund

			Income (loss) from investment operations							Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c,j			Net realized and unrealized gain (loss) on investments		Total income (loss) from investment operations		From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waiversu			Ratio of expenses to average daily net assets after expense waiversu,j			Net investment income (loss) to average daily net assets
Service Class I
06/30/17r	$	12.37	$	(0.02	)	$	1.85	$	1.83	$	-		$	-		$	-		$	14.20		14.79%	b	$	157,535		0.68%	a		0.68%	al		(0.35%	)a
12/31/16		14.53		0.05			1.16		1.21		(0.03	)		(3.34	)		(3.37	)		12.37		9.00%			139,841		0.69%			0.69%	l		0.37%
12/31/15		14.67		0.03			0.84		0.87		(0.10	)		(0.91	)		(1.01	)		14.53		6.41%			127,667		0.69%			0.69%	l		0.22%
12/31/14		14.14		0.12			1.00		1.12		(0.06	)		(0.53	)		(0.59	)		14.67		7.99%			111,927		0.70%			0.70%	l		0.83%
12/31/13		11.16		0.07			3.19		3.26		(0.04	)		(0.24	)		(0.28	)		14.14		29.56%			94,167		0.70%			0.70%	k		0.55%
12/31/12		9.61		0.05			1.62		1.67		(0.02	)		(0.10	)		(0.12	)		11.16		17.41%			66,069		0.74%			0.70%			0.44%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		6	%		8	%		7	%		4	%		8	%		6	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

k Amount waived had no impact on the ratio of expenses to average daily net assets.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

u Expenses of the Master Fund are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of the Master Fund.

x Amount does not include the portfolio activity of the Master Fund.

The accompanying notes are an integral part of the financial statements.

31

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML American Funds International Fund

			Income (loss) from investment operations									Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of  period		Net investment income (loss)c,j			Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end  of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waiversu			Ratio of expenses to average daily net assets after expense waiversu,j			Net investment income (loss) to average daily net assets
Service Class I
06/30/17r	$	9.12	$	0.00	d	$	1.68		$	1.68		$	-		$	-		$	-		$	10.80		18.42%	b	$	61,614		0.72%	a		0.70%	a		0.03%	a
12/31/16		9.63		0.09			0.21			0.30			(0.11	)		(0.70	)		(0.81	)		9.12		2.97%			53,972		0.72%			0.70%			0.94%
12/31/15		10.48		0.12			(0.63	)		(0.51	)		(0.10	)		(0.24	)		(0.34	)		9.63		(4.93%	)		55,589		0.72%			0.70%			1.14%
12/31/14		11.27		0.11			(0.43	)		(0.32	)		(0.10	)		(0.37	)		(0.47	)		10.48		(3.09%	)		51,341		0.73%			0.70%			1.02%
12/31/13		9.62		0.10			1.88			1.98			(0.10	)		(0.23	)		(0.33	)		11.27		21.09%			48,455		0.74%			0.70%			0.98%
12/31/12		8.44		0.10			1.34			1.44			(0.12	)		(0.14	)		(0.26	)		9.62		17.38%			38,624		0.79%			0.70%			1.11%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		6	%		12	%		4	%		6	%		8	%		10	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

u Expenses of the Master Fund are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of the Master Fund.

x Amount does not include the portfolio activity of the Master Fund.

The accompanying notes are an integral part of the financial statements.

32

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML American Funds Core Allocation Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end  of the period (000’s)		Ratio of expenses to average daily net assets before expense waiversw			Ratio of expenses to average daily net assets after expense waiversw,j		Net investment income (loss) to average daily net assets
Service Class I
06/30/17r	$	11.94	$	0.01	$	0.83		$	0.84		$	-		$	-		$	-		$	12.78		7.04%	b	$	1,036,622		0.71%	a		N/A		0.15%	a
12/31/16		12.08		0.16		0.92			1.08			(0.24	)		(0.98	)		(1.22	)		11.94		8.97%			941,450		0.71%			N/A		1.29%
12/31/15		12.72		0.16		(0.31	)		(0.15	)		(0.17	)		(0.32	)		(0.49	)		12.08		(1.12%	)		813,103		0.71%			N/A		1.28%
12/31/14		12.28		0.21		0.78			0.99			(0.13	)		(0.42	)		(0.55	)		12.72		8.05%			696,608		0.72%			N/A		1.71%
12/31/13		10.72		0.19		1.73			1.92			(0.15	)		(0.21	)		(0.36	)		12.28		18.30%			550,517		0.72%			0.72%l		1.68%
12/31/12		10.00		0.17		0.99			1.16			(0.16	)		(0.28	)		(0.44	)		10.72		11.70%			422,997		0.73%			0.73%l		1.63%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover ratex		9	%		7	%		3	%		3	%		8	%		8	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

w Expenses of the underlying funds are not included in the Fund’s expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying fund.

x Amount does not include the portfolio activity of any underlying fund.

The accompanying notes are an integral part of the financial statements.

33

Notes to Financial Statements (Unaudited)

1. The Funds

MML Series Investment Fund (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a no-load, open-end, management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated December 19, 1984, as restated May 14, 1993, and further amended and restated as of December 15, 2011, as it may be further amended from time to time. The following are eight series of the Trust (each individually referred to as a “Fund” or collectively as the “Funds”):

MML Conservative Allocation Fund (“Conservative Allocation Fund”)

MML Balanced Allocation Fund (“Balanced Allocation Fund”)

MML Moderate Allocation Fund (“Moderate Allocation Fund”)

MML Growth Allocation Fund (“Growth Allocation Fund”)

MML Aggressive Allocation Fund (“Aggressive Allocation Fund”)

MML American Funds^® Growth Fund (“MML American Funds Growth Fund”)

MML American Funds^® International Fund (“MML American Funds International Fund”)

MML American Funds Core Allocation Fund (“MML American Funds Core Allocation Fund”)

The Trust makes shares of the Funds available for the investment of assets of various separate investment accounts established by Massachusetts Mutual Life Insurance Company (“MassMutual”) and by life insurance companies which are subsidiaries of MassMutual. Shares of the Trust are not offered to the general public. MassMutual, MML Bay State Life Insurance Company, and C.M. Life Insurance Company are the record owners of all of the outstanding shares of the Funds.

The Conservative Allocation Fund, Balanced Allocation Fund, Moderate Allocation Fund, Growth Allocation Fund, and Aggressive Allocation Fund (the “Allocation Funds”) invest their investable assets in shares of series of the Trust and MML Series Investment Fund II (which are advised by MML Investment Advisers, LLC (“MML Advisers”)), Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc., a majority-owned, indirect subsidiary of MassMutual), and non-affiliated funds (together, the “MML Underlying Funds”). The financial statements included herein are those of the Funds. The financial statements of the applicable MML Underlying Funds are presented separately and can be obtained from the Securities and Exchange Commission’s (“SEC”) EDGAR database on its website at http://www.sec.gov or by calling MML Advisers at 1-888-309-3539. The assets of each of the five Allocation Funds listed above are diversified and a shareholder’s interest is limited to the MML Underlying Funds in which the shares are invested.

MML American Funds Growth Fund and MML American Funds International Fund (each a “Feeder Fund,” collectively the “Feeder Funds”) invest all of their assets in Class 1 shares of the Growth and International Funds, respectively, each a series of the American Funds Insurance Series (each a “Master Fund,” collectively the “Master Funds”). Each Master Fund is an open-end investment company and organized as a Massachusetts business trust. Each Feeder Fund has an investment objective that is consistent with its corresponding Master Fund. Each Master Fund intends to comply with the requirements under Subchapter M of the Internal Revenue Code applicable to mutual funds and intends to distribute substantially all of its taxable income and capital gains to shareholders, which includes the applicable Feeder Fund, to qualify as a regulated investment company. The performance of the Feeder Funds is directly affected by the performance of the Master Funds. The financial statements of the Master Funds, including the Summary Investment Portfolios, are provided separately and should be read in conjunction with the Feeder Funds’ financial statements. As of June 30, 2017, the MML American Funds Growth Fund and MML American Funds International Fund owned 0.67% and 0.70% of the Growth and International Master Funds, respectively. The MML American Funds Core Allocation Fund invests all of its investable assets in shares of various series of American Funds Insurance Series, which are managed by Capital Research and Management Company (together, the “American Underlying Funds” and collectively with the MML Underlying Funds, the “Underlying Funds”).

The SEC file number for the American Funds Insurance Series is 811-03857. Additional information related to the Master Funds’ financial reports can be located on the SEC’s EDGAR database on its website at http://www.sec.gov.

Each share class of a Fund represents an interest in the same portfolio of assets. The principal difference among the classes is the level of service and administration fees, and shareholder and distribution service expenses borne by the classes. Because each class will have different fees and expenses, performance and share prices will vary between the classes. The classes of shares are offered to different types of investors, as outlined in the Funds’ Prospectus.

34

Notes to Financial Statements (Unaudited) (Continued)

2. Significant Accounting Policies

The following is a summary of significant accounting policies followed consistently by each Fund in the preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”). The preparation of the financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

Investment Valuation

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

The net asset value of each Fund is based upon the net asset value(s) of its corresponding Master Fund or Underlying Funds. Shares of the Master Fund and Underlying Funds are valued at their closing net asset values as reported on each business day.

Certain Underlying Funds or Master Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds’ portfolio securities may change on days when the prices of the Funds’ shares are not calculated. The prices of the Funds’ shares will reflect any such changes when the prices of the Funds’ shares are next calculated, which is the next business day.

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

Various inputs may be used to determine the value of the Funds’ investments. The Funds categorize the inputs to valuation techniques used to value their investments into a disclosure hierarchy consisting of three levels as summarized below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

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

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

Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

Each Fund characterized all investments at Level 1, as of June 30, 2017. For each Fund, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments

The Funds had no transfers between Level 1, Level 2 and Level 3 of the fair value hierarchy during the period ended June 30, 2017. The Funds recognize transfers between the Levels as of the beginning of the year.

Accounting for Investment Transactions

Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from

35

Notes to Financial Statements (Unaudited) (Continued)

litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income and distributions including realized gain distributions are recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country’s tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Funds determine the classification of distributions received as return of capital distributions or capital gain distributions.

Allocation of Operating Activity

In maintaining the records for the Funds, the income and expense accounts are allocated daily to each class of shares. Investment income and loss, and unrealized and realized gains or losses are prorated among the classes of shares based on the relative net assets of each. Expenses are allocated to each class of shares depending on the nature of the expenditures. Administration and service fees, if any, which are directly attributable to a class of shares, are charged to that class’s operations. Expenses of a Fund not directly attributable to the operations of any specific class of shares of the Fund are prorated among the classes to which the expense relates based on relative net assets.

In addition, each Fund will also incur certain fees and expenses indirectly as a shareholder in the Underlying Funds or Master Funds. Because the Underlying Funds have varied expense and fee levels, and the Allocation Funds and MML American Funds Core Allocation Fund may own different proportions of Underlying Funds at different times, the amount of fees and expenses indirectly incurred by each of the Allocation Funds and MML American Funds Core Allocation Fund will vary.

Foreign Securities

Certain Underlying Funds or Master Funds may invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.

Federal Income Tax

It is each Fund’s intent to continue to comply with the provisions of subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to federal income taxes on their ordinary income and net realized capital gains to the extent they are distributed or deemed to have been distributed to their shareholders. Therefore, the Funds have not made any provision for federal income tax.

Dividends and Distributions to Shareholders

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

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

36

Notes to Financial Statements (Unaudited) (Continued)

3. Advisory Fees and Other Transactions

Investment Advisory Fees

MML Advisers, a wholly-owned subsidiary of MassMutual, serves as investment adviser to each Fund. Under the investment advisory agreements between MML Advisers and the Trust on behalf of each Fund, MML Advisers is responsible for providing investment management services for each Fund. In return for these services, MML Advisers receives advisory fees, based upon each Fund’s average daily net assets, at the following annual rates:

Fund	Investment Advisory Fee
Conservative Allocation Fund	0.10%
Balanced Allocation Fund	0.10%
Moderate Allocation Fund	0.10%
Growth Allocation Fund	0.10%
Aggressive Allocation Fund	0.10%
MML American Funds Growth Fund	0.15% on the first $500 million; and
	0.125% on any excess over $500 million
MML American Funds International Fund	0.15% on the first $500 million; and
	0.125% on any excess over $500 million
MML American Funds Core Allocation Fund	0.20% on the first $750 million; and
	0.175% on any excess over $750 million

Administration Fees

For the MML American Funds Growth Fund, MML American Funds International Fund, and MML American Funds Core Allocation Fund, under a separate Administrative and Shareholder Services Agreement between the Funds and MML Advisers, MML Advisers is obligated to provide all necessary administrative and shareholder services and bear some of the Fund specific administrative expenses. In return for these services, MML Advisers receives an administrative services fee based upon the average daily net assets of the applicable class of shares of the Funds, at the following annual rates:

	Service Class I
MML American Funds Growth Fund		0.25%
MML American Funds International Fund		0.25%
MML American Funds Core Allocation Fund		0.25%

Distribution and Service Fees

MML Distributors, LLC (the “Distributor”) acts as distributor to the Funds. Pursuant to a Distribution and Services Plan adopted by the Funds pursuant to Rule 12b-1 under the 1940 Act, Service Class shares and Service Class I shares of the Funds pay an annual fee of 0.25% of the average daily net asset value of Service Class shares and Service Class I shares. This fee, or a portion thereof, is paid to: (i) the Distributor for services provided and expenses incurred by it in connection with the distribution of Service Class shares or Service Class I shares, as applicable, of each Fund; and/or (ii) MassMutual for services provided and expenses incurred by it for purposes of maintaining or providing personal services to Service Class and Service Class I shareholders. The Distributor is a wholly-owned subsidiary of MassMutual.

37

Notes to Financial Statements (Unaudited) (Continued)

Expense Caps and Waivers

MML Advisers agreed to cap the fees and expenses of the Funds noted below (other than extraordinary litigation and legal expenses, Master Fund Fees and Expenses^#, interest expense, short sale dividend and loan expense, or other non-recurring or unusual expenses such as organizational expenses and shareholder meeting expenses) based upon the average daily net assets of the applicable class of shares of the Funds, as follows:

	Service Class I
MML American Funds Growth Fund*		0.70%
MML American Funds International Fund*		0.70%

# Master Fund Fees and Expenses are expenses borne indirectly by a Fund through investments in other pooled investment vehicles.

* Expense caps in effect through April 30, 2018.

Expense caps and waiver amounts are reflected as a reduction of expenses on the Statements of Operations.

Deferred Compensation

Trustees of the Funds who are not officers or employees of MassMutual may elect to defer receipt of their annual fees in accordance with terms of a Non-Qualified Deferred Compensation Plan. Amounts deferred shall accrue interest or earnings and shall be recorded on the Funds’ books as other liabilities. Deferred compensation is included within Trustees’ fees and expenses in the Statements of Assets and Liabilities.

Other

Certain officers and trustees of the Funds may also be employees of MassMutual. The compensation of a trustee who is not an employee of MassMutual is borne by the Funds.

Elaine A. Sarsynski resigned as a Trustee of the Trust effective as of February 1, 2017. Teresa Hassara became a Trustee of the Trust effective as of June 6, 2017.

4. Purchases and Sales of Investments

Cost of purchases and proceeds from sales of investments in Underlying Funds or Master Funds (excluding short-term investments) for the period ended June 30, 2017, were as follows:

	Purchases				Sales
	Long-Term U.S. Government Securities		Other Long-Term Securities		Long-Term U.S. Government Securities		Other Long-Term Securities
Conservative Allocation Fund	$	-	$	25,152,231	$	-	$	56,170,496
Balanced Allocation Fund		-		44,752,703		-		53,239,909
Moderate Allocation Fund		-		156,022,791		-		247,535,241
Growth Allocation Fund		-		147,519,161		-		207,387,257
Aggressive Allocation Fund		-		22,341,368		-		18,536,094
MML American Funds Growth Fund		-		20,446,095		-		8,449,189
MML American Funds International Fund		-		3,402,056		-		4,935,223
MML American Funds Core Allocation Fund		-		154,843,425		-		91,513,804

38

Notes to Financial Statements (Unaudited) (Continued)

5. Capital Share Transactions

Changes in shares outstanding for each Fund were as follows:

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Conservative Allocation Fund Initial Class
Sold		305,421		$	3,056,518			1,356,985		$	13,299,244
Issued as reinvestment of dividends		-			-			901,788			8,684,221
Redeemed		(1,203,591	)		(11,959,817	)		(2,493,168	)		(24,443,943	)
Net increase (decrease)		(898,170	)	$	(8,903,299	)		(234,395	)	$	(2,460,478	)
Conservative Allocation Fund Service Class
Sold		1,343,435		$	13,205,670			7,357,528		$	71,400,199
Issued as reinvestment of dividends		-			-			2,841,405			27,107,004
Redeemed		(3,851,036	)		(37,662,958	)		(6,752,196	)		(65,546,438	)
Net increase (decrease)		(2,507,601	)	$	(24,457,288	)		3,446,737		$	32,960,765
Balanced Allocation Fund Initial Class
Sold		732,057		$	7,344,433			758,080		$	7,515,695
Issued as reinvestment of dividends		-			-			1,299,312			12,538,360
Redeemed		(1,164,418	)		(11,702,417	)		(2,510,382	)		(25,135,439	)
Net increase (decrease)		(432,361	)	$	(4,357,984	)		(452,990	)	$	(5,081,384	)
Balanced Allocation Fund Service Class
Sold		1,858,261		$	18,521,931			3,242,682		$	31,965,320
Issued as reinvestment of dividends		-			-			4,082,233			39,107,790
Redeemed		(2,559,836	)		(25,459,322	)		(4,585,592	)		(45,348,007	)
Net increase (decrease)		(701,575	)	$	(6,937,391	)		2,739,323		$	25,725,103
Moderate Allocation Fund Initial Class
Sold		690,677		$	7,482,454			1,909,387		$	20,138,659
Issued as reinvestment of dividends		-			-			3,619,457			37,171,830
Redeemed		(2,658,698	)		(28,645,869	)		(4,934,301	)		(52,205,381	)
Net increase (decrease)		(1,968,021	)	$	(21,163,415	)		594,543		$	5,105,108
Moderate Allocation Fund Service Class
Sold		2,977,648		$	31,930,254			8,936,099		$	92,912,593
Issued as reinvestment of dividends		-			-			17,086,421			173,939,765
Redeemed		(10,480,111	)		(112,001,706	)		(16,363,697	)		(170,910,087	)
Net increase (decrease)		(7,502,463	)	$	(80,071,452	)		9,658,823		$	95,942,271
Growth Allocation Fund Initial Class
Sold		603,221		$	5,801,573			1,578,677		$	14,808,352
Issued as reinvestment of dividends		-			-			8,209,341			73,884,068
Redeemed		(3,281,743	)		(31,585,386	)		(6,047,828	)		(57,234,283	)
Net increase (decrease)		(2,678,522	)	$	(25,783,813	)		3,740,190		$	31,458,137
Growth Allocation Fund Service Class
Sold		1,410,559		$	13,419,524			2,613,115		$	24,405,528
Issued as reinvestment of dividends		-			-			13,479,070			120,502,885
Redeemed		(5,615,494	)		(53,719,899	)		(10,131,162	)		(95,021,107	)
Net increase (decrease)		(4,204,935	)	$	(40,300,375	)		5,961,023		$	49,887,306

39

Notes to Financial Statements (Unaudited) (Continued)

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Aggressive Allocation Fund Initial Class
Sold		226,198		$	2,317,060			597,830		$	5,824,037
Issued as reinvestment of dividends		-			-			723,438			6,822,019
Redeemed		(355,539	)		(3,663,941	)		(766,148	)		(7,515,837	)
Net increase (decrease)		(129,341	)	$	(1,346,881	)		555,120		$	5,130,219
Aggressive Allocation Fund Service Class
Sold		766,497		$	7,738,719			791,226		$	7,727,853
Issued as reinvestment of dividends		-			-			899,794			8,386,079
Redeemed		(304,342	)		(3,097,470	)		(787,999	)		(7,715,353	)
Net increase (decrease)		462,155		$	4,641,249			903,021		$	8,398,579
MML American Funds Growth Fund Service Class I
Sold		670,525		$	9,030,128			1,129,900		$	14,971,405
Issued as reinvestment of dividends		-			-			2,440,624			29,336,297
Redeemed		(879,201	)		(11,818,252	)		(1,053,380	)		(14,085,309	)
Net increase (decrease)		(208,676	)	$	(2,788,124	)		2,517,144		$	30,222,393
MML American Funds International Fund Service Class I
Sold		342,389		$	3,333,189			471,718		$	4,419,158
Issued as reinvestment of dividends		-			-			490,696			4,588,007
Redeemed		(550,160	)		(5,599,142	)		(822,096	)		(7,663,346	)
Net increase (decrease)		(207,771	)	$	(2,265,953	)		140,318		$	1,343,819
MML American Funds Core Allocation Fund Service Class I
Sold		5,477,315		$	68,050,421			9,222,514		$	111,618,224
Issued as reinvestment of dividends		-			-			6,975,419			82,519,208
Redeemed		(3,207,868	)		(40,054,032	)		(4,649,056	)		(56,597,850	)
Net increase (decrease)		2,269,447		$	27,996,389			11,548,877		$	137,539,582

6. Federal Income Tax Information

At June 30, 2017, the cost of securities and the unrealized appreciation (depreciation) in the value of investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:

	Federal Income Tax Cost		Tax Basis Unrealized Appreciation		Tax Basis Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Conservative Allocation Fund	$	460,419,881	$	11,719,968	$	(3,890,147	)	$	7,829,821
Balanced Allocation Fund		586,089,174		17,703,173		(6,306,910	)		11,396,263
Moderate Allocation Fund		2,376,587,050		91,231,366		(23,207,748	)		68,023,618
Growth Allocation Fund		1,584,768,468		102,404,355		(11,851,908	)		90,552,447
Aggressive Allocation Fund		141,062,844		8,032,024		(758,372	)		7,273,652
MML American Funds Growth Fund		150,020,793		7,693,638		-			7,693,638
MML American Funds International Fund		56,903,538		4,790,477		-			4,790,477
MML American Funds Core Allocation Fund		995,502,517		46,967,996		(4,719,597	)		42,248,399

Net capital loss carryforwards may be applied against any net realized taxable gains in succeeding years, subject to the carryforward period limitations, where applicable. On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the “Modernization Act”) was signed by the President. The Modernization Act changed the capital loss carryforward rules as they relate to regulated investment companies. Capital losses generated in tax years beginning after the date of enactment may

40

Notes to Financial Statements (Unaudited) (Continued)

now be carried forward indefinitely, and retain the character of the original loss. Under pre-enactment law, capital losses could be carried forward for up to eight tax years as short-term capital losses. The provisions affecting the utilization of capital loss carryforwards under the Modernization Act also require the utilization of post-enactment losses prior to the utilization of pre-enactment losses.

At December 31, 2016, for federal income tax purposes, there were no unused capital losses.

Generally accepted accounting principles in the United States of America require that only distributions in excess of tax basis earnings and profits be reported in the financial statements as a return of capital.

The tax character of distributions (including capital gain dividends, if any, designated pursuant to Section 852 of the Code) paid during the year ended December 31, 2016, was as follows:

	Ordinary Income		Long Term Capital Gain		Return of Capital
Conservative Allocation Fund	$	10,503,255	$	25,287,970	$	-
Balanced Allocation Fund		12,247,002		39,399,148		-
Moderate Allocation Fund		44,987,407		166,124,188		-
Growth Allocation Fund		27,702,930		166,684,023		-
Aggressive Allocation Fund		1,795,427		13,412,671		-
MML American Funds Growth Fund		267,323		29,068,974		-
MML American Funds International Fund		632,920		3,955,087		-
MML American Funds Core Allocation Fund		16,088,756		66,430,452		-

The following Fund(s) have elected to pass through the foreign tax credit for the year ended December 31, 2016:

	Amount
Conservative Allocation Fund	$	33,466
Balanced Allocation Fund		52,952
Moderate Allocation Fund		313,244
Growth Allocation Fund		289,177
Aggressive Allocation Fund		29,017
MML American Funds International Fund		100,969
MML American Funds Core Allocation Fund		273,497

Capital accounts within the financial statements are periodically adjusted for permanent differences between book and tax accounting. These adjustments have no impact on net assets or the results of operations. Temporary book and tax accounting differences will reverse in subsequent periods. At December 31, 2016, temporary book and tax accounting differences were primarily attributable to the deferral of wash sale losses, and deferred Trustee compensation.

At December 31, 2016, the components of distributable earnings on a tax basis were as follows:

	Undistributed Ordinary Income		Undistributed Long Term Capital Gain (Capital Loss Carryover)		Other Temporary Differences			Unrealized Appreciation (Depreciation)
Conservative Allocation Fund	$	9,521,709	$	14,124,671	$	(49,399	)	$	(20,041,472	)
Balanced Allocation Fund		10,452,978		24,956,494		(59,047	)		(19,475,879	)
Moderate Allocation Fund		39,460,334		116,326,034		(204,740	)		(68,536,091	)
Growth Allocation Fund		22,609,852		115,098,767		(183,174	)		(7,894,937	)

41

Notes to Financial Statements (Unaudited) (Continued)

	Undistributed Ordinary Income		Undistributed Long Term Capital Gain (Capital Loss Carryover)		Other Temporary Differences			Unrealized Appreciation (Depreciation)
Aggressive Allocation Fund	$	1,514,205	$	8,850,164	$	(11,640	)	$	(6,103,676	)
MML American Funds Growth Fund		471,529		14,235,313		(11,020	)		4,922,577
MML American Funds International Fund		507,479		5,160,298		(5,952	)		(3,824,554	)
MML American Funds Core Allocation Fund		14,606,398		71,053,940		(73,982	)		33,484,771

The Funds did not have any unrecognized tax benefits at June 30, 2017, nor were there any increases or decreases in unrecognized tax benefits for the period then ended. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as an income tax expense in the Statements of Operations. During the period ended June 30, 2017, the Funds did not incur any such interest or penalties. The Funds are subject to examination by U.S. federal and state tax authorities for returns filed for the prior three fiscal years. Foreign taxes are provided for based on the Funds’ understanding of the tax rules and rates that exist in the foreign markets in which they invest.

7. Investment in Affiliated Issuers

A summary of the Funds’ transactions in the securities of affiliated issuers during the period ended June 30, 2017, was as follows:

	Number of Shares Held as of 12/31/16		Purchases		Sales		Number of Shares Held as of 6/30/17		Value as of 6/30/17		Dividend Income		Realized Gains Distributions		Net Realized Gain (Loss)
Conservative Allocation Fund
MML Blue Chip Growth Fund, Initial Class		948,536		12,913		280,530		680,919	$	11,344,116	$	-	$	-	$	(398,714	)
MML Dynamic Bond Fund, Class II		6,557,621		94,911		-		6,652,532		66,924,469		611,085		250,055		-
MML Equity Income Fund, Initial Class		1,086,900		95,061		178,932		1,003,029		12,477,686		-		-		(143,827	)
MML Equity Index Fund, Class III		272,727		153,437		4,220		421,944		12,223,714		-		-		9,835
MML Focused Equity Fund, Class II		580,032		10,285		365,786		224,531		3,325,308		-		-		5,019
MML Foreign Fund, Initial Class		1,008,329		7,121		105,702		909,748		9,707,010		-		-		28,659
MML Fundamental Growth Fund, Class II		871,922		15,108		244,057		642,973		8,345,785		-		-		(376,437	)
MML Fundamental Value Fund, Class II		934,193		69,376		195,769		807,800		12,609,756		-		-		70,526
MML Global Fund, Class I		1,047,855		8,669		112,439		944,085		12,612,979		-		-		152,598
MML High Yield Fund, Class II		1,547,264		27,384		128,385		1,446,263		14,968,818		276,310		-		(91,830	)
MML Income & Growth Fund, Initial Class		1,144,851		30,874		129,803		1,045,922		13,199,532		-		-		186,858
MML Inflation-Protected and Income Fund, Initial Class		1,986,984		100,475		164,738		1,922,721		19,650,205		128,410		-		(35,844	)
MML International Equity Fund, Class II		795,236		7,045		103,782		698,499		7,620,628		-		-		(15,871	)
MML Large Cap Growth Fund, Initial Class		364,199		82,046		127,110		319,135		4,008,337		-		-		64,210
MML Managed Bond Fund, Initial Class		8,380,314		406,083		1,005,667		7,780,730		97,306,931		808,085		-		(366,776	)
MML Mid Cap Growth Fund, Initial Class		556,347		5,835		76,414		485,768		7,995,744		-		-		52,602
MML Mid Cap Value Fund, Initial Class		853,669		26,897		70,657		809,909		9,945,685		-		-		(104,510	)
MML Short-Duration Bond Fund, Class II		2,614,870		258,051		349,417		2,523,504		24,856,511		175,492		-		(63,596	)
MML Small Cap Growth Equity Fund, Initial Class		191,703		3,489		26,498		168,694		2,377,022		-		-		(101,924	)
MML Small Company Value Fund, Class II		289,700		3,651		27,419		265,932		4,645,840		-		-		(172,281	)
MML Small/Mid Cap Value Fund, Initial Class		184,477		12,212		19,850		176,839		2,374,954		-		-		593
MML Total Return Bond Fund, Class II		5,876,460		200,399		469,230		5,607,629		58,711,878		-		-		(204,327	)
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares*		37,243		4,166		4,695		36,714		2,750,644		867		284,838		26,743
Oppenheimer Global Fund/VA, Non-Service Shares*		229,821		4,094		43,293		190,622		7,933,698		79,465		-		(24,201	)
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares*		3,249,945		68,677		191,514		3,127,108		30,802,009		293,868		-		(150,089	)

42

Notes to Financial Statements (Unaudited) (Continued)

	Number of Shares Held as of 12/31/16		Purchases		Sales		Number of Shares Held as of 6/30/17		Value as of 6/30/17		Dividend Income		Realized Gains Distributions		Net Realized Gain (Loss)
Conservative Allocation Fund (Continued)
Oppenheimer International Growth Fund/VA, Non-Service Shares*		3,309,102		74,232		466,015		2,917,319	$	6,884,872	$	97,648	$	-	$	(64,504	)
Oppenheimer Main Street Fund/VA, Non-Service Shares*		-		87,544		-		87,544		2,645,571		31,885		42,778		-
									$	468,249,702	$	2,503,115	$	577,671	$	(1,717,088	)
Balanced Allocation Fund
MML Blue Chip Growth Fund, Initial Class		1,525,592		43,540		483,823		1,085,309	$	18,081,242	$	-	$	-	$	600,015
MML Dynamic Bond Fund, Class II		6,400,654		164,557		-		6,565,211		66,046,023		599,727		245,407		-
MML Equity Income Fund, Initial Class		1,522,823		197,444		121,741		1,598,526		19,885,665		-		-		258,658
MML Equity Index Fund, Class III		344,598		261,415		-		606,013		17,556,207		-		-		-
MML Focused Equity Fund, Class II		826,731		23,970		572,719		277,982		4,116,920		-		-		311,514
MML Foreign Fund, Initial Class		1,767,360		28,126		160,279		1,635,207		17,447,661		-		-		80,686
MML Fundamental Growth Fund, Class II		1,335,158		38,287		240,313		1,133,132		14,708,052		-		-		316,333
MML Fundamental Value Fund, Class II		1,216,219		143,799		96,638		1,263,380		19,721,360		-		-		319,929
MML Global Fund, Class I		1,608,498		27,617		224,777		1,411,338		18,855,471		-		-		801,548
MML High Yield Fund, Class II		1,596,827		28,569		73,529		1,551,867		16,061,824		288,264		-		(63,957	)
MML Income & Growth Fund, Initial Class		1,708,600		133,794		228,585		1,613,809		20,366,271		-		-		638,818
MML Inflation-Protected and Income Fund, Initial Class		2,092,360		132,720		84,448		2,140,632		21,877,263		143,022		-		(133,170	)
MML International Equity Fund, Class II		1,462,951		27,839		163,000		1,327,790		14,486,192		-		-		40,224
MML Large Cap Growth Fund, Initial Class		587,861		46,229		125,141		508,949		6,392,397		-		-		(159,822	)
MML Managed Bond Fund, Initial Class		8,228,878		653,944		503,163		8,379,659		104,797,224		842,692		-		(394,266	)
MML Mid Cap Growth Fund, Initial Class		975,060		20,848		92,000		903,908		14,878,323		-		-		275,246
MML Mid Cap Value Fund, Initial Class		1,369,170		67,108		60,164		1,376,114		16,898,684		-		-		87,334
MML Short-Duration Bond Fund, Class II		2,891,059		303,840		259,995		2,934,904		28,908,809		204,426		-		(76,178	)
MML Small Cap Growth Equity Fund, Initial Class		319,938		11,986		22,985		308,939		4,353,187		-		-		(165,408	)
MML Small Company Value Fund, Class II		409,118		10,519		20,138		399,499		6,979,242		-		-		(67,513	)
MML Small/Mid Cap Value Fund, Initial Class		353,523		9,981		19,157		344,347		4,624,584		-		-		2,625
MML Total Return Bond Fund, Class II		5,879,263		324,276		247,516		5,956,023		62,359,562		-		-		1,546
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares*		65,125		8,517		5,345		68,297		5,116,840		1,606		527,702		31,320
Oppenheimer Global Fund/VA, Non-Service Shares*		354,384		10,802		82,093		283,093		11,782,338		113,820		-		255,474
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares*		4,189,370		187,733		90,452		4,286,651		42,223,515		401,174		-		(70,553	)
Oppenheimer International Growth Fund/VA, Non-Service Shares*		5,771,175		830,676		358,150		6,243,701		14,735,134		208,717		-		13,953
Oppenheimer Main Street Fund/VA, Non-Service Shares*		-		139,823		-		139,823		4,225,447		51,244		68,752		-
									$	597,485,437	$	2,854,692	$	841,861	$	2,904,356
Moderate Allocation Fund
MML Blue Chip Growth Fund, Initial Class		7,994,376		11,561		2,790,026		5,215,911	$	86,897,071	$	-	$	-	$	5,038,344
MML Dynamic Bond Fund, Class II		21,214,046		341,076		-		21,555,122		216,844,531		1,976,873		808,934		-
MML Equity Income Fund, Initial Class		7,706,912		725,179		675,564		7,756,527		96,491,190		-		-		2,139,215
MML Equity Index Fund, Class III		1,443,633		1,420,157		-		2,863,790		82,963,982		-		-		-
MML Focused Equity Fund, Class II		3,911,670		7,446		2,051,644		1,867,472		27,657,266		-		-		(940,957	)
MML Foreign Fund, Initial Class		8,510,670		374,137		457,919		8,426,888		89,914,890		-		-		363,343
MML Fundamental Growth Fund, Class II		6,504,519		10,727		1,613,202		4,902,044		63,628,536		-		-		1,915,804
MML Fundamental Value Fund, Class II		7,132,757		339,171		1,312,003		6,159,925		96,156,422		-		-		5,546,214
MML Global Fund, Class I		8,143,690		9,306		1,435,227		6,717,769		89,749,389		-		-		3,791,468
MML High Yield Fund, Class II		5,059,132		149,689		127,451		5,081,370		52,592,176		936,219		-		(100,248	)
MML Income & Growth Fund, Initial Class		7,277,471		929,446		523,725		7,683,192		96,961,887		-		-		1,651,248

43

Notes to Financial Statements (Unaudited) (Continued)

	Number of Shares Held as of 12/31/16		Purchases		Sales		Number of Shares Held as of 6/30/17		Value as of 6/30/17		Dividend Income		Realized Gains Distributions		Net Realized Gain (Loss)
Moderate Allocation Fund (Continued)
MML Inflation-Protected and Income Fund, Initial Class		7,471,136		317,613		311,655		7,477,094	$	76,415,900	$	502,397	$	-	$	(435,290	)
MML International Equity Fund, Class II		6,609,648		991,052		448,677		7,152,023		78,028,569		-		-		(29,225	)
MML Large Cap Growth Fund, Initial Class		3,078,167		14,124		460,293		2,631,998		33,057,891		-		-		(953,955	)
MML Managed Bond Fund, Initial Class		27,172,837		1,188,562		1,508,046		26,853,353		335,831,903		2,722,083		-		(1,051,889	)
MML Mid Cap Growth Fund, Initial Class		5,348,661		6,114		466,827		4,887,948		80,455,619		-		-		1,725,812
MML Mid Cap Value Fund, Initial Class		7,089,359		209,696		317,867		6,981,188		85,728,988		-		-		425,087
MML Short-Duration Bond Fund, Class II		10,292,741		909,509		949,703		10,252,547		100,987,590		711,556		-		(308,684	)
MML Small Cap Growth Equity Fund, Initial Class		1,642,308		3,932		121,527		1,524,713		21,484,376		-		-		(793,109	)
MML Small Company Value Fund, Class II		2,290,115		3,706		113,566		2,180,255		38,089,050		-		-		(132,103	)
MML Small/Mid Cap Value Fund, Initial Class		1,748,910		20,922		96,149		1,673,683		22,477,560		-		-		10,412
MML Strategic Emerging Markets Fund, Class II		4,604,786		38,436		297,629		4,345,593		44,325,050		-		-		(231,211	)
MML Total Return Bond Fund, Class II		18,940,084		1,101,150		801,872		19,239,362		201,436,118		-		-		216,082
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares*		328,040		35,383		22,490		340,933		25,542,702		8,017		2,633,982		169,025
Oppenheimer Global Fund/VA, Non-Service Shares*		1,800,933		14,044		498,617		1,316,360		54,786,915		513,995		-		4,355,215
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares*		18,221,504		576,585		-		18,798,089		185,161,175		1,764,889		-		-
Oppenheimer International Growth Fund/VA, Non-Service Shares*		19,897,140		3,273,122		3,118,610		20,051,652		47,321,898		670,917		-		(238,883	)
Oppenheimer Main Street Fund/VA, Non-Service Shares*		-		450,762		-		450,762		13,622,024		101,204		135,780		-
									$	2,444,610,668	$	9,908,150	$	3,578,696	$	22,131,715
Growth Allocation Fund
MML Blue Chip Growth Fund, Initial Class		6,756,203		23,685		2,438,609		4,341,279	$	72,325,703	$	-	$	-	$	11,719,910
MML Dynamic Bond Fund, Class II		8,242,299		325,724		-		8,568,023		86,194,307		771,343		315,632		-
MML Equity Income Fund, Initial Class		5,761,598		1,195,052		445,214		6,511,436		81,002,265		-		-		1,339,042
MML Equity Index Fund, Class III		1,324,158		1,456,056		248,769		2,531,445		73,335,965		-		-		619,436
MML Focused Equity Fund, Class II		4,078,850		15,683		2,462,298		1,632,235		24,173,408		-		-		2,799,427
MML Foreign Fund, Initial Class		7,210,379		549,972		419,870		7,340,481		78,322,937		-		-		520,196
MML Fundamental Growth Fund, Class II		5,185,134		21,231		1,609,680		3,596,685		46,684,971		-		-		1,548,799
MML Fundamental Value Fund, Class II		5,306,715		452,617		587,536		5,171,796		80,731,739		-		-		2,868,343
MML Global Fund, Class I		6,952,467		18,832		1,400,620		5,570,679		74,424,269		-		-		3,603,071
MML High Yield Fund, Class II		1,378,040		31,726		107,843		1,301,923		13,474,903		241,836		-		(45,648	)
MML Income & Growth Fund, Initial Class		5,998,774		940,455		466,500		6,472,729		81,685,846		-		-		1,460,230
MML Inflation-Protected and Income Fund, Initial Class		6,381,423		308,409		222,532		6,467,300		66,095,808		434,373		-		(166,966	)
MML International Equity Fund, Class II		6,624,099		259,319		446,895		6,436,523		70,222,468		-		-		249,911
MML Large Cap Growth Fund, Initial Class		2,631,374		22,387		413,265		2,240,496		28,140,633		-		-		(848,022	)
MML Managed Bond Fund, Initial Class		10,241,038		795,856		536,885		10,500,009		131,314,622		1,062,416		-		(380,319	)
MML Mid Cap Growth Fund, Initial Class		4,863,579		12,880		365,301		4,511,158		74,253,658		-		-		2,241,924
MML Mid Cap Value Fund, Initial Class		6,049,974		170,847		267,301		5,953,520		73,109,228		-		-		797,174
MML Short-Duration Bond Fund, Class II		4,765,970		475,475		419,026		4,822,419		47,500,826		338,121		-		(124,020	)
MML Small Cap Growth Equity Fund, Initial Class		1,363,846		6,735		107,817		1,262,764		17,793,312		-		-		(644,367	)
MML Small Company Value Fund, Class II		1,952,409		5,850		94,833		1,863,426		32,554,053		-		-		5,620
MML Small/Mid Cap Value Fund, Initial Class		1,943,414		29,120		86,129		1,886,405		25,334,418		-		-		21,786
MML Strategic Emerging Markets Fund, Class II		4,844,657		14,816		378,392		4,481,081		45,707,028		-		-		(342,687	)
MML Total Return Bond Fund, Class II		7,429,070		461,696		328,984		7,561,782		79,171,852		-		-		144,753
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares*		308,373		33,796		15,254		326,915		24,492,481		7,568		2,485,919		132,143
Oppenheimer Global Fund/VA, Non-Service Shares*		1,541,426		13,129		430,592		1,123,963		46,779,341		435,099		-		3,169,711

44

Notes to Financial Statements (Unaudited) (Continued)

	Number of Shares Held as of 12/31/16		Purchases		Sales		Number of Shares Held as of 6/30/17		Value as of 6/30/17		Dividend Income		Realized Gains Distributions		Net Realized Gain (Loss)
Growth Allocation Fund (Continued)
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares*		13,653,001		547,097		36,400		14,163,698	$	139,512,421	$	1,332,665	$	-	$	-
Oppenheimer International Growth Fund/VA, Non-Service Shares*		15,697,197		3,148,091		1,335,778		17,509,510		41,322,443		586,304		-		127,695
Oppenheimer Main Street Fund/VA, Non-Service Shares*		-		650,563		-		650,563		19,660,010		153,893		206,471		-
									$	1,675,320,915	$	5,363,618	$	3,008,022	$	30,817,142
Aggressive Allocation Fund
MML Blue Chip Growth Fund, Initial Class		607,538		45,903		172,399		481,042	$	8,014,153	$	-	$	-	$	43,534
MML Dynamic Bond Fund, Class II		199,325		28,670		-		227,995		2,293,634		19,579		8,012		-
MML Equity Income Fund, Initial Class		561,322		144,518		34,144		671,696		8,355,896		-		-		85,211
MML Equity Index Fund, Class III		68,329		172,673		-		241,002		6,981,817		-		-		-
MML Focused Equity Fund, Class II		372,991		32,569		231,945		173,615		2,571,231		-		-		(145,568	)
MML Foreign Fund, Initial Class		714,459		100,402		26,229		788,632		8,414,704		-		-		16,821
MML Fundamental Growth Fund, Class II		564,841		41,494		308,766		297,569		3,862,439		-		-		(227,581	)
MML Fundamental Value Fund, Class II		592,968		36,991		95,157		534,802		8,348,256		-		-		184,499
MML Global Fund, Class I		692,226		33,501		87,217		638,510		8,530,492		-		-		71,005
MML Income & Growth Fund, Initial Class		592,137		115,999		37,823		670,313		8,459,346		-		-		99,187
MML Inflation-Protected and Income Fund, Initial Class		350,048		38,747		10,919		377,876		3,861,892		25,235		-		(2,947	)
MML International Equity Fund, Class II		667,198		48,468		40,515		675,151		7,365,903		-		-		10,247
MML Large Cap Growth Fund, Initial Class		263,752		44,239		69,789		238,202		2,991,817		-		-		(95,914	)
MML Managed Bond Fund, Initial Class		261,001		40,121		12,521		288,601		3,609,280		28,349		-		(2,809	)
MML Mid Cap Growth Fund, Initial Class		516,877		27,868		29,118		515,627		8,487,229		-		-		105,450
MML Mid Cap Value Fund, Initial Class		641,176		54,038		22,473		672,741		8,261,259		-		-		(9,713	)
MML Short-Duration Bond Fund, Class II		289,095		45,215		9,047		325,263		3,203,839		22,063		-		(1,546	)
MML Small Cap Growth Equity Fund, Initial Class		154,970		14,917		8,871		161,016		2,268,841		-		-		(79,710	)
MML Small Company Value Fund, Class II		208,840		12,741		7,647		213,934		3,737,424		-		-		(34,643	)
MML Small/Mid Cap Value Fund, Initial Class		204,807		11,476		6,924		209,359		2,811,687		-		-		3,107
MML Strategic Emerging Markets Fund, Class II		532,589		33,079		28,966		536,702		5,474,357		-		-		(21,796	)
MML Total Return Bond Fund, Class II		185,417		25,236		6,419		204,234		2,138,330		-		-		(2,181	)
Oppenheimer Discovery Mid Cap Growth Fund/VA, Non-Service Shares*		35,144		5,949		1,948		39,145		2,932,712		915		300,416		16,149
Oppenheimer Global Fund/VA, Non-Service Shares*		154,404		6,430		40,937		119,897		4,990,112		53,150		-		(28,769	)
Oppenheimer Global Multi-Alternatives Fund/VA, Non-Service Shares*		1,191,553		165,529		-		1,357,082		13,367,258		128,178		-		-
Oppenheimer International Growth Fund/VA, Non-Service Shares*		1,583,033		188,824		83,098		1,688,759		3,985,471		56,179		-		2,871
Oppenheimer Main Street Fund/VA, Non-Service Shares*		-		99,838		-		99,838		3,017,117		28,308		37,979		-
									$	148,336,496	$	361,956	$	346,407	$	(15,096	)

* Fund advised by OFI Global Asset Management, Inc.

8. Indemnifications

Under the Funds’ organizational documents, current and former Trustees and Officers are provided with specified rights to indemnification against liabilities arising in connection with the performance of their duties to the Funds, and shareholders are indemnified against personal liability for obligations of the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

45

Notes to Financial Statements (Unaudited) (Continued)

9. New Accounting Pronouncements

In October 2016, the SEC released its Final Rule on Investment Company Reporting Modernization (the “Rule”). The Rule, which introduces two new regulatory reporting forms for investment companies — Form N-PORT and Form N-CEN — also contains amendments to Regulation S-X which impact financial statement presentation, particularly the presentation of derivative investments. Management is still evaluating the impact of the Rule; however, management believes that many of the Regulation S-X amendments are consistent with the Funds’ current financial statement presentation and expects that each Fund will be able to comply with the Rule’s Regulation S-X amendments by the August 1, 2017 compliance date.

10. Subsequent Events

In preparation of these financial statements, management has evaluated the events and transactions subsequent to June 30, 2017, through the date when the financial statements were issued, and determined that there are no subsequent events or transactions that would require adjustments to or disclosures in the Funds’ financial statements.

46

Other Information (Unaudited)

Proxy Voting

A description of the policies and procedures that each Fund’s investment adviser uses to vote proxies relating to the Fund’s portfolio securities is available, without charge, upon request, by calling 1-888-309-3539, and on the SEC’s EDGAR database on its website at http://www.sec.gov.

Information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available, without charge, upon request, on the MassMutual website at http://www.massmutual.com/funds and on the SEC’s EDGAR database on its website at http://www.sec.gov.

Quarterly Reporting

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s EDGAR database on its website at http://www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington D.C. Information on the operation of the SEC’s Public Reference Room may be obtained by calling 1-800-SEC-0330.

Trustees’ Approval of Investment Advisory Contracts

At their meetings in May and June 2017, the Contract Committee (the “Committee”) and the Trustees, including the Trustees who are not “interested persons” (as such term is defined in the 1940 Act) of the Trust or MML Advisers (the “Independent Trustees”), re-approved the existing advisory agreements (collectively, the “Contracts”) for each of the Conservative Allocation Fund, Balanced Allocation Fund, Moderate Allocation Fund, Growth Allocation Fund, Aggressive Allocation Fund, MML American Funds Growth Fund, MML American Funds International Fund, and MML American Funds Core Allocation Fund. In preparation for the meetings, the Trustees requested, and MML Advisers provided in advance, certain materials relevant to the consideration of the Contracts (the “Meeting Materials”). In all of their deliberations, the Trustees were advised by independent counsel.

The Committee received in advance of the meetings (i) a memorandum from MML Advisers discussing the nature and quality of the services it provides as investment adviser to the Funds; (ii) a profitability analysis prepared by MML Advisers; and (iii) a fee and performance study report (the “Third-Party Report”) with respect to each Fund prepared by an independent third-party vendor (the “Third-Party”). The Third Party Report provided detailed comparative advisory fee, total expense, and performance information for each Fund to assist the Committee in its evaluation of the Contracts. The Committee also considered information presented to it throughout the year regarding MML Advisers.

The Committee considered the nature, scope, and quality of services MML Advisers provides to the Funds, including: (i) the financial condition, stability, and business strategy of MML Advisers; (ii) the capabilities of MML Advisers with respect to regulatory compliance and its ability to monitor compliance with the investment policies of the Funds; (iii) MML Advisers’ ability to provide investment oversight and provide for administrative and shareholder services to the Funds; and (iv) the experience and qualifications of the personnel of MML Advisers that perform, or oversee the performance of, the services provided to the Funds, and the needs of the Funds for administrative and shareholder services.

The Committee then reviewed and considered, for each Fund separately, the detailed information presented in the Third-Party Report regarding: (i) Fund expenses, including, among other things, both the Fund’s advisory fee and total net expense ratio against peer funds; and (ii) the Fund’s relative performance (over various time periods against peer funds and a benchmark index). In connection with the Committee’s review, MML Advisers provided commentary and analysis regarding each Fund’s performance and expenses. The Committee also noted that it had received in the Meeting Materials, or during the course of the past year, detailed information regarding MML Advisers’ ability to provide investment oversight and provide for administrative and shareholder services to the Funds. MML Advisers reviewed with the Committee in detail the work MML Advisers does in its oversight roles, the expertise it brings to these roles, the size of its teams, and the financial commitment it has made to providing those services. Throughout the discussion, MML Advisers responded to Committee members’ questions and provided additional information concerning each Fund.

47

Other Information (Unaudited) (Continued)

The Committee reviewed the expense and performance information for each Fund. (References to any one- or three-year period below are to periods ended December 31, 2016. In all cases, the comparative expense information is that of a Fund’s “peer group” and the comparative performance information is that of a Fund’s “performance category.”)

The Committee considered that the total net expenses of the MML American Funds International Fund were in the second comparative quartile (50^th percentile) and that the Fund’s performance had improved from the third comparative quartile (60^th percentile) to the first quartile (20^th percentile) from the three-year period to the one-year period. As to the Conservative Allocation Fund, the Committee considered that the Fund had a total net expense ratio in the second comparative quartile (47^th percentile) and a net advisory fee in the third comparative quartile (62^nd percentile), although only 4 basis points above the peer group median. The Committee noted that the Fund had achieved performance for the three-year period in the second comparative quartile (43^rd percentile) and at the 54^th percentile in the one-year period. The Committee determined that no further consideration of these Funds was required at this time.

The Committee noted the following expense considerations in respect of specific Funds that had achieved performance in the top two comparative quartiles:

• MML American Funds Core Allocation Fund – The Committee noted that the Fund has total net expenses in the fourth comparative quartile (77th percentile), with total net expenses 9 basis points above the peer group median, and net advisory fees in the fourth comparative quartile (77^th percentile), 6 basis points above the peer group median. The Committee noted that the Fund has nonetheless experienced strong performance, with the Fund’s one-year and three-year performance in the first comparative decile (9^th and 2^nd percentiles, respectively). The Committee considered MML Advisers’ statement that the Fund’s relatively high total net expenses are due in part to relatively high administrative fees which are used in part for shareholder servicing.

• Balanced Allocation Fund, Moderate Allocation Fund, Growth Allocation Fund, and Aggressive Allocation Fund – The Committee considered MML Advisers’ statements that, although the Funds’ total net expense ratios were in the third comparative quartile (70^th, 65^th, 54^th, and 59^th percentiles, respectively), the net advisory fees of the Moderate, Growth, and Aggressive Allocation Funds were in the 2^nd comparative quartile, and the net advisory fees for the Balanced Allocation Fund were in the third comparative quartile, although only 3 basis points above the peer group median. They considered that each of the Funds other than the Growth Allocation Fund had achieved first or second quartile comparative performance for each of the one- and three-year periods and that the Growth Allocation Fund had achieved second quartile comparative performance for the three-year period and 58^th percentile performance for the one-year period. The Committee considered MML Advisers’ view that the manager has delivered strong, consistent performance and risk levels over time.

• MML American Funds Growth Fund – The Committee noted that the Fund had achieved performance in the first comparative quartile for the one- and three-year periods. The Committee noted, as well, that, although the Fund had total net expenses in the third comparative quartile, it had a net advisory fee in the first comparative quartile. The Committee considered MML Advisers’ statement that administrative service fees paid by the Fund to support shareholder servicing contributed significantly to the high relative net total expense ratio.

The Committee also reviewed and considered information included in the Meeting Materials, or discussed at the meeting, concerning economies of scale and the profitability of MML Advisers’ advisory relationship with the various Funds, including: (i) a description of the revenue (including advisory fees and administrative and shareholder services fees, as applicable) and expense allocation methodology employed by MML Advisers; and (ii) profitability information for each individual Fund. The discussions included consideration of the intangible benefits derived by MML Advisers and its affiliates resulting from their relationships with the Funds and the so-called “fallout benefits” to MML Advisers, such as any reputational value derived from serving as investment adviser to the Funds.

Prior to the votes being taken to approve the Contracts, the Committee met separately in executive session to discuss the appropriateness of such contracts. The Committee weighed the foregoing matters in light of the advice given to them by their independent legal counsel as to the law applicable to the review of investment advisory contracts. In arriving at a decision, the Committee did not identify any single matter as all-important or controlling. The foregoing summary does not detail all of the matters considered.

48

Other Information (Unaudited) (Continued)

As to each of the Funds, the Committee concluded that: (i) overall, it was satisfied with the nature, extent, and quality of services provided, and expected to be provided in the future, under the Contracts, including the level of MML Advisers’ oversight of each Fund; (ii) MML Advisers’ levels of profitability from its relationship with the various Funds are not excessive and the advisory fees payable under the Contracts and each Fund’s total net expenses are fair and reasonable; (iii) either the relative or absolute performance of a Fund (in each case, taking into account the applicable investment strategy and risk profile of the Fund), or the steps MML Advisers has proposed in respect of the underperformance of a Fund, are sufficient to warrant continuation of the Contracts for each of the Funds; and (iv) the terms of the Contracts are fair and reasonable with respect to each Fund and are in the best interests of each Fund’s shareholders.

49

Other Information (Unaudited) (Continued)

Fund Expenses June 30, 2017

Expense Examples:

The following information is in regards to expenses for the six months ended June 30, 2017:

As a shareholder of the Funds, you incur ongoing costs, including advisory fees, distribution and/or service (12b-1) fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds. These examples are based on an investment of $1,000 invested for the six months ended June 30, 2017.

Actual Expenses:

The first four columns of the table below provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Operating Expenses Incurred” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes:

The last two columns of the table below provide information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the last two columns of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Value		Annualized Expense Ratio			Ending Value (Based on Actual Returns and Expenses)		Operating Expenses Incurred*		Ending Value (Based on Hypothetical Returns and Expenses)		Operating Expenses Incurred*
Conservative Allocation Fund
Initial Class	$	1,000		0.12	%	$	1,053.00	$	0.61	$	1,024.20	$	0.60
Service Class		1,000		0.37	%		1,052.50		1.88		1,023.00		1.86
Balanced Allocation Fund
Initial Class		1,000		0.12	%		1,061.90		0.61		1,024.20		0.60
Service Class		1,000		0.37	%		1,061.30		1.89		1,023.00		1.86
Moderate Allocation Fund
Initial Class		1,000		0.11	%		1,071.30		0.56		1,024.20		0.55
Service Class		1,000		0.36	%		1,069.10		1.85		1,023.00		1.81
Growth Allocation Fund
Initial Class		1,000		0.11	%		1,084.10		0.57		1,024.20		0.55
Service Class		1,000		0.36	%		1,082.50		1.86		1,023.00		1.81
Aggressive Allocation Fund
Initial Class		1,000		0.15	%		1,097.20		0.78		1,024.10		0.75
Service Class		1,000		0.40	%		1,095.20		2.08		1,022.80		2.01

50

Other Information (Unaudited) (Continued)

	Beginning Value		Annualized Expense Ratio			Ending Value (Based on Actual Returns and Expenses)		Operating Expenses Incurred*		Ending Value (Based on Hypothetical Returns and Expenses)		Operating Expenses Incurred*
MML American Funds Growth Fund
Service Class I**	$	1,000		1.03	%	$	1,147.90	$	5.49	$	1,019.70	$	5.16
MML American Funds International Fund
Service Class I**		1,000		1.23	%		1,184.20		6.66		1,018.70		6.16
MML American Funds Core Allocation Fund Service Class I		1,000		0.71	%		1,070.40		3.64		1,021.30		3.56

* Expenses are calculated using the annualized expense ratio for the six months ended June 30, 2017, multiplied by the average account value over the period, multiplied by 181 days in the period, divided by 365 days in the year, unless stated otherwise. The annualized expense ratio does not reflect expenses deducted under the variable life insurance or variable annuity contract through which the Funds are invested in. Inclusion of these expenses would increase the annualized expense ratios shown.

** The annualized expense ratio reflects the expenses of both the Feeder Fund and the Master Fund in which it invests.

51

Underwriter:

MML Distributors, LLC

100 Bright Meadow Blvd.

Enfield, CT 06082-1981

^© 2017 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. Investment Adviser: MML Investment Advisers, LLC RS-42840-00

Table of Contents

President’s Letter to Shareholders (Unaudited)	1
Portfolio Summaries (Unaudited)	3
Portfolio of Investments (Unaudited)
MML Blue Chip Growth Fund	22
MML Equity Income Fund	25
MML Equity Index Fund	28
MML Focused Equity Fund	35
MML Foreign Fund	37
MML Fundamental Growth Fund	40
MML Fundamental Value Fund	42
MML Global Fund	45
MML Growth & Income Fund	47
MML Income & Growth Fund	49
MML International Equity Fund	52
MML Large Cap Growth Fund	54
MML Managed Volatility Fund	56
MML Mid Cap Growth Fund	64
MML Mid Cap Value Fund	68
MML Small Cap Growth Equity Fund	71
MML Small Company Value Fund	75
MML Small/Mid Cap Value Fund	79
MML Total Return Bond Fund	82
Statements of Assets and Liabilities (Unaudited)	92
Statements of Operations (Unaudited)	104
Statements of Changes in Net Assets	110
Financial Highlights	123
Notes to Financial Statements (Unaudited)	142
Other Information (Unaudited)
Proxy Voting	176
Quarterly Reporting	176
Trustees’ Approval of Investment Advisory Contracts	176
Fund Expenses	181

This material must be preceded or accompanied by a current prospectus (or summary prospectus, if available) for the MML Series Investment Fund. Investors should consider a Fund’s investment objective, risks, and charges and expenses carefully before investing. This and other information about the investment company is available in the prospectus (or summary prospectus, if available). Read it carefully before investing.

MML Series Investment Fund – President’s Letter to Shareholders (Unaudited)

To Our Shareholders

Tina Wilson

“The diversified suite of investment options we provide in our MML Series Investment Fund taps into the deep expertise of seasoned asset managers who are committed to helping you prepare for a stronger financial future.”

June 30, 2017

Welcome to the MML Series Investment Fund Semiannual Report, covering the six months from January 1, 2017 to June 30, 2017.

Market Highlights

• During the period, U.S. stocks and bonds delivered some of the best first-half-year results investors have seen since 2009.

• Market momentum surged throughout the first five months of the period, but lagged in June.

• Large-cap stocks outperformed small caps, and growth stocks beat their value counterparts.

• All market sectors except energy delivered positive returns for the period.

• The U.S. Federal Reserve (the “Fed”) raised short-term interest rates twice during the period, a move some investors viewed as the end of ultra-cheap money.

• Factors to watch during the last half of 2017 include the Republican administration’s ability to implement policy, corporate earnings, and continued global market momentum.

Market Environment

Stocks and bonds delivered some of the best first-half-year results investors have seen since 2009. Most of the major domestic and global indexes logged positive returns for the period. However, enthusiasm that powered the market early in the first half of 2017 flattened out as the period ended. The S&P 500^® Index* tells the story for the U.S. equity markets. The index returned 9.34 percent for the period and crossed multiple record-high closings on the way. Nearly two-thirds of that growth occurred in the first three months of the year, building on a strong fourth quarter in 2016. However, growth slowed to add just 3.27 percent during the last three months of the period, with the month of June adding only 0.06 percent to the total.

Multiple secular factors affected domestic markets during the reporting period. The new Republican administration picked health care reform as its first policy target, but failed on multiple tries to garner enough votes for passage. As a result, investor optimism about the administration’s ability to implement meaningful policy change has weakened. The Fed raised short-term interest rates twice – in March and June. Neither hike caused undue turbulence, but concerns about how many more and how fast continues to nag investors. Corporate earnings reports for the fourth quarter of 2016 and the first quarter of 2017 offered investors hope that valuations – already deemed high – still had room to run. Oil prices remained above $50 per barrel for much of the period, but dropped in June on concerns of oversupply and of OPEC’s inability to rein in production being offset by U.S. domestic shale fields.

Outside of the U.S., central bankers in Europe and Asia continue to keep a tight hand on fiscal stimulus levers as economies around the globe showed signs of gaining traction. British Prime Minister Theresa May failed in her attempt to gain more seats in Parliament, casting a shadow over the looming Brexit proceedings. (“Brexit” – an abbreviation for “British exit” – was the United Kingdom’s surprising June 23, 2016 referendum to leave the EU.) While Great Britain saw a spike in uncertainty after June’s snap election (a “snap election” is an election called earlier than expected), European markets gained momentum during the first half of 2017. Asian markets were notable for their lack of volatility and headlines during the period. Emerging markets, as measured by the MSCI Emerging Markets Index*, delivered an 18.43 percent return for the reporting period.

* Indexes are unmanaged, do not incur fees or expenses and cannot be purchased directly for investment.

(Continued)

1

MML Series Investment Fund – President’s Letter to Shareholders (Unaudited) (Continued)

As is often the case, markets rise unevenly. If 2016 was the year for value stocks, 2017 is so far proving to favor growth stocks. Large- and small-cap growth stocks have outperformed their value counterparts by nearly 10 percent for the period. Similarly, the markets favored large-cap stocks over their small-cap brethren. At the S&P 500 sector level, returns across all market sectors except energy and telecommunications were positive for the first half of 2017. Information technology and health care outperformed, gaining 17.1 percent and 16.1 percent, respectively. The energy sector, dragged down by falling oil prices, underperformed, losing 12.6 percent year to date.

Along with investors’ “risk on” attitude toward equity markets, the Fed rate hikes exerted pressure on bond prices. As the Fed raised short-term rates in June, investors began realizing that the era of ultra-cheap money may be ending, which triggered a late June sell-off that pushed yields higher. (Bond yields rise inversely to bond prices.) The yield on the bellwether 10-year U.S. Treasury ended the period at 2.35 percent. Investment-grade and high-yield corporate bonds diverged significantly, as U.S. high-yield corporate bonds bucked the investment-grade bond market trend and posted gains for the reporting period.

For the second half of 2017, we will be watching for signs that the Republican administration’s infrastructure policies are gaining traction and that corporate earnings continue to point toward sustainable corporate growth. We will also pay attention to inflation, interest rates, and continued economic momentum around the globe.

Review and maintain your strategy

MassMutual renewed its commitment to helping people secure their financial future and protect the ones they love in May 2017 with a new brand presence. Please visit MassMutual.com to learn more about MassMutual and how we can help you.

Because we are people helping people, we would like to remind you that, as a long-term investor, it’s important to maintain perspective and have realistic expectations about the future performance of your investment accounts. The diversified suite of investment options we provide in our MML Series Investment Fund taps into the deep expertise of seasoned asset managers who are committed to helping you prepare for a stronger financial future.

Many of our clients find that working with a personal financial professional can help them define an investment strategy that aligns with how comfortable they are with market volatility, how long they have to save and invest, and their specific financial goals. You may find it valuable to seek out a financial advisor to help you. If you are already working with such an advisor, this may be a good time to re-evaluate your current investment strategy and investment allocations – and to make any adjustments you feel may be needed.

As always, we thank you for your confidence in MassMutual.

Sincerely,

Tina Wilson

President

The information provided is the opinion of MassMutual U.S. Product and Marketing as of 7/1/17 and is subject to change without notice. It is not to be construed as tax, legal, or investment advice. Of course, past performance does not guarantee future results.

2

MML Blue Chip Growth Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Blue Chip Growth Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital growth. Income is a secondary objective. Under normal circumstances, the Fund invests at least 80% of net assets (plus the amount of any borrowings for investment purposes) in the common stocks of large- and medium-sized blue chip growth companies. The Fund’s subadviser currently defines blue chip growth companies to mean firms that, in its view, are well-established in their industries and have the potential for above-average earnings growth. The Fund’s subadviser is T. Rowe Price Associates, Inc. (T. Rowe Price).

MML Blue Chip Growth Fund Largest Holdings (% of Net Assets) on 6/30/17
Amazon.com, Inc.	8.6	%
Facebook, Inc. Class A	5.1	%
The Priceline Group, Inc.	4.5	%
Alphabet, Inc. Class C	4.3	%
Microsoft Corp.	3.5	%
Visa, Inc. Class A	3.1	%
Alibaba Group Holding Ltd. Sponsored ADR	3.0	%
Mastercard, Inc. Class A	2.6	%
UnitedHealth Group, Inc.	2.5	%
Alphabet, Inc. Class A	2.4	%
	39.6	%

MML Blue Chip Growth Fund Sector Table (% of Net Assets) on 6/30/17
Communications	31.4	%
Consumer, Non-cyclical	20.6	%
Financial	17.0	%
Technology	13.7	%
Consumer, Cyclical	11.7	%
Industrial	4.7	%
Basic Materials	0.3	%
Utilities	0.2	%
Mutual Funds	0.0	%
Total Long-Term Investments	99.6	%
Short-Term Investments and Other Assets and Liabilities	0.4	%
Net Assets	100.0	%

3

MML Equity Income Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Equity Income Fund, and who is the Fund’s subadviser?

The Fund seeks dividend income and long-term capital growth by investing primarily in the common stocks of established companies. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks, with 65% in the common stocks of well-established companies paying above-average dividends. The Fund’s subadviser currently considers well-established companies to mean companies that it considers to be seasoned companies with relatively long operating histories. The Fund’s subadviser is T. Rowe Price Associates, Inc. (T. Rowe Price).

Effective on or about September 1, 2017, the 80% test relating the name of the MML Equity Income Fund to its principal investments, as required by Rule 35d-1 under the Investment Company Act, is being changed and the investment approach of the Fund will be updated as shown below.

The Fund seeks dividend income and long-term capital growth by investing primarily in common stocks, with an emphasis on large-capitalization companies that have a strong track record of paying dividends or that the Fund’s subadviser believes to be undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks.

MML Equity Income Fund Largest Holdings (% of Net Assets) on 6/30/17
JP Morgan Chase & Co.	3.6	%
Exxon Mobil Corp.	2.4	%
Wells Fargo & Co.	2.4	%
Morgan Stanley	2.1	%
Johnson & Johnson	2.0	%
Microsoft Corp.	2.0	%
The Boeing Co.	1.9	%
Verizon Communications, Inc.	1.8	%
TOTAL SA	1.8	%
State Street Corp.	1.7	%
	21.7	%

MML Equity Income Fund Sector Table (% of Net Assets) on 6/30/17
Financial	28.0	%
Consumer, Non-cyclical	16.6	%
Industrial	12.3	%
Energy	9.4	%
Communications	8.1	%
Technology	6.8	%
Utilities	6.7	%
Consumer, Cyclical	5.7	%
Basic Materials	4.2	%
Mutual Funds	0.0	%
Total Long-Term Investments	97.8	%
Short-Term Investments and Other Assets and Liabilities	2.2	%
Net Assets	100.0	%

4

MML Equity Index Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Equity Index Fund, and who is the Fund’s subadviser?

The Fund’s investment objective is to provide investment results that correspond to the price and yield performance of publicly traded common stocks in the aggregate as represented by the S&P 500^® Index* (the “Index”). Under normal circumstances, the Fund invests at least 80% (and, typically, substantially all) of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of companies included within the Index. The Fund’s subadviser is Northern Trust Investments, Inc. (NTI).

* The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by MML Advisers. Standard & Poor’s^®, S&P^® and S&P 500^® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by MML Advisers. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

MML Equity Index Fund Largest Holdings (% of Net Assets) on 6/30/17
Apple, Inc.	3.6	%
Microsoft Corp.	2.5	%
Amazon.com, Inc.	1.8	%
Facebook, Inc. Class A	1.7	%
Johnson & Johnson	1.7	%
Exxon Mobil Corp.	1.6	%
JP Morgan Chase & Co.	1.6	%
Berkshire Hathaway, Inc. Class B	1.5	%
Alphabet, Inc. Class A	1.3	%
Alphabet, Inc. Class C	1.3	%
	18.6	%

MML Equity Index Fund Sector Table (% of Net Assets) on 6/30/17
Consumer, Non-cyclical	23.1	%
Financial	18.5	%
Technology	14.0	%
Communications	13.4	%
Industrial	10.0	%
Consumer, Cyclical	8.8	%
Energy	6.0	%
Utilities	3.1	%
Basic Materials	2.3	%
Diversified	0.0	%
Total Long-Term Investments	99.2	%
Short-Term Investments and Other Assets and Liabilities	0.8	%
Net Assets	100.0	%

5

MML Focused Equity Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Focused Equity Fund, and who is the Fund’s subadviser?

The Fund seeks growth of capital over the long-term by investing primarily in equity securities of U.S. companies that the Fund’s subadviser believes are financially sound, valued conservatively by the market, and have improving prospects. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. The Fund’s subadviser is Wellington Management Company LLP (Wellington Management). Effective May 1, 2017, Wellington Management replaced Harris Associates L.P. (Harris) as subadviser of the Fund.

MML Focused Equity Fund Largest Holdings (% of Net Assets) on 6/30/17
NIKE, Inc. Class B	5.3	%
Costco Wholesale Corp.	5.0	%
Microsoft Corp.	5.0	%
The PNC Financial Services Group, Inc.	4.7	%
Bristol-Myers Squibb Co.	4.7	%
Chubb Ltd.	4.5	%
American Express Co.	4.3	%
Public Storage	4.3	%
Medtronic PLC	4.2	%
United Parcel Service, Inc. Class B	4.0	%
	46.0	%

MML Focused Equity Fund Sector Table (% of Net Assets) on 6/30/17
Consumer, Non-cyclical	28.1	%
Financial	27.2	%
Consumer, Cyclical	19.4	%
Industrial	13.0	%
Technology	8.0	%
Basic Materials	2.0	%
Total Long-Term Investments	97.7	%
Short-Term Investments and Other Assets and Liabilities	2.3	%
Net Assets	100.0	%

6

MML Foreign Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Foreign Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital growth by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investments of issuers located outside of the U.S., including those in emerging markets. Under normal market conditions, the Fund invests predominantly in equity securities, consisting primarily to predominantly of common stocks, and, while there are no set percentage targets, the Fund invests predominantly in large- to medium-capitalization companies with market capitalization values greater than $2 billion and may invest a portion in smaller companies. The Fund’s subadviser is Templeton Investment Counsel, LLC (Templeton).

MML Foreign Fund Largest Holdings (% of Net Assets) on 6/30/17
Samsung Electronics Co. Ltd.	3.2	%
BP PLC	2.5	%
Royal Dutch Shell PLC Class B	2.4	%
BNP Paribas SA	2.1	%
Roche Holding AG	2.1	%
Sanofi	1.9	%
HSBC Holdings PLC	1.9	%
Bayer AG Registered	1.9	%
SoftBank Group Corp.	1.8	%
ING Groep NV	1.7	%
	21.5	%

MML Foreign Fund Sector Table (% of Net Assets) on 6/30/17
Financial	23.5	%
Consumer, Non-cyclical	16.5	%
Communications	12.3	%
Industrial	11.9	%
Energy	11.2	%
Consumer, Cyclical	6.7	%
Technology	6.6	%
Basic Materials	6.6	%
Diversified	1.3	%
Utilities	1.1	%
Mutual Funds	1.0	%
Total Long-Term Investments	98.7	%
Short-Term Investments and Other Assets and Liabilities	1.3	%
Net Assets	100.0	%

7

MML Fundamental Growth Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Fundamental Growth Fund, and who is the Fund’s subadviser?

The Fund seeks long-term growth of capital by investing primarily in domestic equity securities that the Fund’s subadviser believes offer the potential for long-term growth. The Fund’s subadviser is Wellington Management Company LLP (Wellington Management).

MML Fundamental Growth Fund Largest Holdings (% of Net Assets) on 6/30/17
Apple, Inc.	7.1	%
Alphabet, Inc. Class C	5.7	%
Microsoft Corp.	5.5	%
Facebook, Inc. Class A	3.6	%
Oracle Corp.	2.5	%
Visa, Inc. Class A	2.2	%
The Home Depot, Inc.	2.0	%
PepsiCo, Inc.	2.0	%
The Priceline Group, Inc.	1.8	%
Mastercard, Inc. Class A	1.8	%
	34.2	%

MML Fundamental Growth Fund Sector Table (% of Net Assets) on 6/30/17
Technology	27.1	%
Consumer, Non-cyclical	23.9	%
Communications	20.5	%
Financial	12.9	%
Industrial	6.6	%
Consumer, Cyclical	4.3	%
Energy	3.1	%
Basic Materials	1.6	%
Total Long-Term Investments	100.0	%
Short-Term Investments and Other Assets and Liabilities	(0.0	)%
Net Assets	100.0	%

8

MML Fundamental Value Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Fundamental Value Fund, and who is the Fund’s subadviser?

The Fund seeks long-term total return by investing primarily in equity securities of issuers that the Fund’s subadviser believes are undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities, with a focus on companies with large market capitalizations (which the subadviser believes are generally above $2 billion). The Fund’s subadviser is Wellington Management Company LLP (Wellington Management).

MML Fundamental Value Fund Largest Holdings (% of Net Assets) on 6/30/17
JP Morgan Chase & Co.	4.6	%
Wells Fargo & Co.	3.5	%
Citigroup, Inc.	2.7	%
Cisco Systems, Inc.	2.7	%
The PNC Financial Services Group, Inc.	2.6	%
Merck & Co., Inc.	2.4	%
Chevron Corp.	2.1	%
Intel Corp.	1.8	%
Chubb Ltd.	1.7	%
Philip Morris International, Inc.	1.7	%
	25.8	%

MML Fundamental Value Fund Sector Table (% of Net Assets) on 6/30/17
Financial	28.9	%
Consumer, Non-cyclical	17.6	%
Industrial	11.7	%
Communications	9.4	%
Energy	9.3	%
Technology	8.2	%
Consumer, Cyclical	7.0	%
Utilities	3.5	%
Basic Materials	2.6	%
Total Long-Term Investments	98.2	%
Short-Term Investments and Other Assets and Liabilities	1.8	%
Net Assets	100.0	%

9

MML Global Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Global Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital appreciation by investing primarily in the equity securities of U.S. and foreign companies, including companies in developed and emerging markets. The Fund may invest a significant percentage of its assets in issuers in a single country, a small number of countries, or a particular geographic region. The Fund’s subadviser is Massachusetts Financial Services Company (MFS).

MML Global Fund Largest Holdings (% of Net Assets) on 6/30/17
Thermo Fisher Scientific, Inc.	3.0	%
Bayer AG Registered	2.9	%
Nestle SA Registered	2.7	%
Medtronic PLC	2.5	%
Honeywell International, Inc.	2.4	%
Accenture PLC Class A	2.2	%
Reckitt Benckiser Group PLC	2.2	%
Zimmer Biomet Holdings, Inc.	2.2	%
Visa, Inc. Class A	2.1	%
Stryker Corp.	2.0	%
	24.2	%

MML Global Fund Sector Table (% of Net Assets) on 6/30/17
Consumer, Non-cyclical	38.3	%
Industrial	16.1	%
Financial	13.0	%
Communications	9.7	%
Consumer, Cyclical	8.8	%
Technology	6.9	%
Basic Materials	5.6	%
Energy	1.1	%
Mutual Funds	0.8	%
Total Long-Term Investments	100.3	%
Short-Term Investments and Other Assets and Liabilities	(0.3	)%
Net Assets	100.0	%

10

MML Growth & Income Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Growth & Income Fund, and who is the Fund’s subadviser?

The Fund seeks capital appreciation and income by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities and equity-related securities, including convertible securities, preferred stocks, options, and warrants, of U.S. companies with market capitalizations at the time of purchase greater than $1 billion. The Fund’s subadviser is Massachusetts Financial Services Company (MFS).

MML Growth & Income Fund Largest Holdings (% of Net Assets) on 6/30/17
JP Morgan Chase & Co.	3.8	%
Bank of America Corp.	3.2	%
Visa, Inc. Class A	3.1	%
Alphabet, Inc. Class A	2.9	%
Thermo Fisher Scientific, Inc.	2.8	%
American Tower Corp.	2.7	%
Broadcom Ltd.	2.6	%
Cognizant Technology Solutions Corp. Class A	2.3	%
Comcast Corp. Class A	2.3	%
Alphabet, Inc. Class C	2.2	%
	27.9	%

MML Growth & Income Fund Sector Table (% of Net Assets) on 6/30/17
Consumer, Non-cyclical	24.6	%
Financial	23.2	%
Technology	13.7	%
Communications	12.2	%
Consumer, Cyclical	8.3	%
Industrial	7.8	%
Energy	4.4	%
Basic Materials	4.0	%
Utilities	0.5	%
Total Long-Term Investments	98.7	%
Short-Term Investments and Other Assets and Liabilities	1.3	%
Net Assets	100.0	%

11

MML Income & Growth Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Income & Growth Fund, and who is the Fund’s subadviser?

The Fund seeks long-term total return and current income by investing primarily in equity securities of dividend paying companies that the Fund’s subadviser believes will both increase in value over the long term and provide current income. The Fund will focus on issuers that have good prospects for capital appreciation. The Fund’s subadviser is BlackRock Investment Management, LLC (BlackRock).

MML Income & Growth Fund Largest Holdings (% of Net Assets) on 6/30/17
JP Morgan Chase & Co.	4.1	%
Citigroup, Inc.	3.7	%
Bank of America Corp.	3.6	%
Pfizer, Inc.	3.3	%
Oracle Corp.	3.0	%
The Dow Chemical Co.	2.7	%
Wells Fargo & Co.	2.7	%
Anthem, Inc.	2.2	%
General Electric Co.	2.1	%
Merck & Co., Inc.	2.0	%
	29.4	%

MML Income & Growth Fund Sector Table (% of Net Assets) on 6/30/17
Financial	27.1	%
Consumer, Non-cyclical	22.7	%
Energy	10.5	%
Industrial	9.8	%
Technology	9.4	%
Communications	5.2	%
Utilities	4.9	%
Basic Materials	3.5	%
Consumer, Cyclical	2.2	%
Total Long-Term Investments	95.3	%
Short-Term Investments and Other Assets and Liabilities	4.7	%
Net Assets	100.0	%

12

MML International Equity Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML International Equity Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital growth by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of non-U.S. companies located in non-U.S. markets throughout the world, including emerging markets. The Fund may invest a substantial portion of its assets in just one region or country and may, but does not currently intend to, invest in U.S. companies. Ordinarily, the Fund’s portfolio typically holds thirty to sixty stocks and the Fund invests in the securities of at least five countries outside the U.S. The Fund’s subadviser is Harris Associates L.P. (Harris).

MML International Equity Fund Largest Holdings (% of Net Assets) on 6/30/17
Glencore PLC	5.2	%
Credit Suisse Group AG Registered	4.6	%
Daimler AG Registered	4.1	%
BNP Paribas SA	3.8	%
Allianz SE Registered	3.8	%
Lloyds Banking Group PLC	3.8	%
Toyota Motor Corp.	3.3	%
Hennes & Mauritz AB Class B	3.1	%
CNH Industrial NV	3.1	%
Bayerische Motoren Werke AG	3.0	%
	37.8	%

MML International Equity Fund Sector Table (% of Net Assets) on 6/30/17
Financial	31.5	%
Consumer, Cyclical	22.7	%
Industrial	15.3	%
Consumer, Non-cyclical	11.5	%
Communications	6.8	%
Basic Materials	5.6	%
Technology	3.0	%
Total Long-Term Investments	96.4	%
Short-Term Investments and Other Assets and Liabilities	3.6	%
Net Assets	100.0	%

13

MML Large Cap Growth Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Large Cap Growth Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital appreciation by investing primarily in large-capitalization companies that the Fund’s subadviser believes offer the potential for long-term growth. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the common stocks of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 1000^® Growth Index. The Fund’s subadviser is Loomis, Sayles & Company, L.P. (Loomis Sayles).

MML Large Cap Growth Fund Largest Holdings (% of Net Assets) on 6/30/17
Amazon.com, Inc.	7.6	%
Facebook, Inc. Class A	6.9	%
Alibaba Group Holding Ltd. Sponsored ADR	6.1	%
Visa, Inc. Class A	5.0	%
Oracle Corp.	4.6	%
Cisco Systems, Inc.	4.4	%
Monster Beverage Corp.	3.7	%
Autodesk, Inc.	3.6	%
Danone SA Sponsored ADR	3.3	%
QUALCOMM, Inc.	3.1	%
	48.3	%

MML Large Cap Growth Fund Sector Table (% of Net Assets) on 6/30/17
Communications	32.6	%
Consumer, Non-cyclical	27.3	%
Technology	16.6	%
Financial	9.2	%
Industrial	7.8	%
Consumer, Cyclical	3.2	%
Energy	1.7	%
Total Long-Term Investments	98.4	%
Short-Term Investments and Other Assets and Liabilities	1.6	%
Net Assets	100.0	%

14

MML Managed Volatility Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Managed Volatility Fund and who is the Fund’s subadviser?

The Fund seeks to capture the majority of the returns associated with equity market investments, while exposing investors to less risk than other equity investments. Under normal circumstances, the Fund invests in a broadly diversified portfolio of common stocks, while also selling index call options and purchasing index put options. The Fund’s stock portfolio will have approximately 500 stocks, and seeks to duplicate the investment composition and return of the S&P 500^® Index* (the “Index”) by holding each stock included in the Index in approximately the same proportion as each stock’s relative weighting in the Index. The Fund’s subadviser is Gateway Investment Advisers, LLC (Gateway).

* The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by MML Advisers. Standard & Poor’s^®, S&P^® and S&P 500^® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by MML Advisers. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

MML Managed Volatility Fund Largest Holdings (% of Net Assets) on 6/30/17
Apple, Inc.	3.6	%
Microsoft Corp.	2.5	%
Amazon.com, Inc.	1.8	%
Johnson & Johnson	1.7	%
Facebook, Inc. Class A	1.7	%
Exxon Mobil Corp.	1.6	%
JP Morgan Chase & Co.	1.5	%
Berkshire Hathaway, Inc. Class B	1.5	%
Alphabet, Inc. Class A	1.3	%
Alphabet, Inc. Class C	1.3	%
	18.5	%

MML Managed Volatility Fund Sector Table (% of Net Assets) on 6/30/17
Consumer, Non-cyclical	23.0	%
Financial	18.7	%
Technology	14.0	%
Communications	13.2	%
Industrial	10.0	%
Consumer, Cyclical	8.8	%
Energy	5.9	%
Utilities	3.1	%
Basic Materials	2.3	%
Diversified	0.0	%
Total Long-Term Investments	99.0	%
Short-Term Investments and Other Assets and Liabilities	1.0	%
Net Assets	100.0	%

15

MML Mid Cap Growth Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Mid Cap Growth Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital appreciation by investing primarily in equity securities of mid-capitalization companies that the Fund’s subadviser believes offer the potential for above-average earnings growth. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a broadly diversified portfolio of common stocks of mid-cap companies whose earnings the subadviser expects to grow at a faster rate than the average company. The Fund’s subadviser is T. Rowe Price Associates, Inc. (T. Rowe Price).

MML Mid Cap Growth Fund Largest Holdings (% of Net Assets) on 6/30/17
Teleflex, Inc.	2.0	%
Willis Towers Watson PLC	2.0	%
Textron, Inc.	2.0	%
T. Rowe Price Government Reserve Investment Fund	1.7	%
FNF Group	1.7	%
Fiserv, Inc.	1.7	%
Coach, Inc.	1.7	%
Hologic, Inc.	1.7	%
IDEX Corp.	1.7	%
Roper Technologies, Inc.	1.7	%
	17.9	%

MML Mid Cap Growth Fund Sector Table (% of Net Assets) on 6/30/17
Consumer, Non-cyclical	30.0	%
Industrial	20.6	%
Consumer, Cyclical	14.5	%
Technology	12.5	%
Financial	8.4	%
Mutual Funds	6.1	%
Basic Materials	3.7	%
Communications	3.2	%
Energy	0.9	%
Total Long-Term Investments	99.9	%
Short-Term Investments and Other Assets and Liabilities	0.1	%
Net Assets	100.0	%

16

MML Mid Cap Value Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Mid Cap Value Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital growth. Income is a secondary objective. The Fund invests primarily in equity securities of mid-capitalization companies that the Fund’s subadviser believes offer prospects for long-term capital growth. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of medium-size companies. The Fund’s subadviser is American Century Investment Management, Inc. (American Century).

MML Mid Cap Value Fund Largest Holdings (% of Net Assets) on 6/30/17
Northern Trust Corp.	3.2	%
Johnson Controls International PLC	3.0	%
iShares Russell Mid-Cap Value ETF	2.5	%
Zimmer Biomet Holdings, Inc.	2.2	%
Weyerhaeuser Co.	2.1	%
EQT Corp.	1.8	%
Imperial Oil Ltd.	1.7	%
Invesco Ltd.	1.6	%
Conagra Brands, Inc.	1.6	%
PG&E Corp.	1.5	%
	21.2	%

MML Mid Cap Value Fund Sector Table (% of Net Assets) on 6/30/17
Financial	26.8	%
Industrial	17.8	%
Consumer, Non-cyclical	16.1	%
Energy	13.0	%
Utilities	8.8	%
Consumer, Cyclical	6.6	%
Technology	4.6	%
Mutual Funds	2.5	%
Communications	1.2	%
Total Long-Term Investments	97.4	%
Short-Term Investments and Other Assets and Liabilities	2.6	%
Net Assets	100.0	%

17

MML Small Cap Growth Equity Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Small Cap Growth Equity Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital appreciation by investing primarily in equity securities of smaller companies that the Fund’s subadviser believes offer potential for long-term growth. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 2000^® Index or the S&P SmallCap 600 Index. The Fund’s subadviser is Wellington Management Company LLP (Wellington Management).

MML Small Cap Growth Equity Fund Largest Holdings (% of Net Assets) on 6/30/17
Insulet Corp.	1.7	%
Sterling Bancorp	1.4	%
MB Financial, Inc.	1.3	%
iShares Russell 2000 ETF	1.3	%
2U, Inc.	1.2	%
MACOM Technology Solutions Holdings, Inc.	1.2	%
HubSpot, Inc.	1.2	%
Western Alliance Bancorp	1.2	%
LaSalle Hotel Properties	1.1	%
Clean Harbors, Inc.	1.1	%
	12.7	%

MML Small Cap Growth Equity Fund Sector Table (% of Net Assets) on 6/30/17
Mutual Funds	22.4	%
Consumer, Non-cyclical	22.3	%
Financial	20.0	%
Industrial	15.3	%
Consumer, Cyclical	13.5	%
Technology	12.3	%
Communications	7.1	%
Basic Materials	3.1	%
Energy	3.1	%
Utilities	1.0	%
Total Long-Term Investments	120.1	%
Short-Term Investments and Other Assets and Liabilities	(20.1	)%
Net Assets	100.0	%

18

MML Small Company Value Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Small Company Value Fund, and who is the Fund’s subadviser?

The Fund seeks long-term capital appreciation by investing primarily in equity securities that the Fund’s subadviser believes are undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the securities of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 2000^® Index. The Fund’s subadviser is T. Rowe Price Associates, Inc. (T. Rowe Price).

MML Small Company Value Fund Largest Holdings (% of Net Assets) on 6/30/17
Home BancShares, Inc.	2.0	%
East West Bancorp, Inc.	1.9	%
Landstar System, Inc.	1.6	%
Littelfuse, Inc.	1.5	%
Belden, Inc.	1.4	%
SVB Financial Group	1.3	%
Atrion Corp.	1.3	%
West Pharmaceutical Services, Inc.	1.3	%
PNM Resources, Inc.	1.2	%
ProAssurance Corp.	1.2	%
	14.7	%

MML Small Company Value Fund Sector Table (% of Net Assets) on 6/30/17
Financial	35.7	%
Industrial	17.5	%
Consumer, Non-cyclical	15.1	%
Consumer, Cyclical	9.3	%
Utilities	6.7	%
Mutual Funds	5.7	%
Energy	4.4	%
Basic Materials	4.2	%
Technology	3.2	%
Communications	1.8	%
Diversified	0.2	%
Total Long-Term Investments	103.8	%
Short-Term Investments and Other Assets and Liabilities	(3.8	)%
Net Assets	100.0	%

19

MML Small/Mid Cap Value Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Small/Mid Cap Value Fund, and who is the Fund’s subadviser?

The Fund seeks long-term total return by investing primarily in securities that the Fund’s subadviser believes to be undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of small- and mid-cap companies. The Fund’s subadviser is AllianceBernstein L.P. (AllianceBernstein).

MML Small/Mid Cap Value Fund Largest Holdings (% of Net Assets) on 6/30/17
Huntington Bancshares, Inc.	1.6	%
Gramercy Property Trust	1.6	%
Comerica, Inc.	1.6	%
Zions Bancorp	1.6	%
Amdocs Ltd.	1.5	%
Essent Group Ltd.	1.5	%
ICON PLC	1.5	%
Terex Corp.	1.5	%
LifePoint Health, Inc.	1.5	%
Graphic Packaging Holding Co.	1.5	%
	15.4	%

MML Small/Mid Cap Value Fund Sector Table (% of Net Assets) on 6/30/17
Financial	23.3	%
Industrial	17.5	%
Consumer, Cyclical	16.8	%
Consumer, Non-cyclical	11.4	%
Technology	11.3	%
Energy	7.4	%
Utilities	3.8	%
Communications	3.6	%
Basic Materials	1.4	%
Total Long-Term Investments	96.5	%
Short-Term Investments and Other Assets and Liabilities	3.5	%
Net Assets	100.0	%

20

MML Total Return Bond Fund – Portfolio Summaries (Unaudited)

What is the investment approach of MML Total Return Bond Fund, and who is the Fund’s subadviser?

The Fund seeks maximum total return, consistent with preservation of capital and prudent investment management, by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of investment grade fixed income securities (rated Baa3 or higher by Moody’s, BBB- or higher by Standard & Poor’s, BBB- or higher by Fitch, or A-2 by S&P, P-2 by Moody’s, or F-2 by Fitch for short-term debt obligations, or, if unrated, determined by the Fund’s subadviser to be of comparable quality). The Fund’s subadviser is Metropolitan West Asset Management, LLC (MetWest).

MML Total Return Bond Fund Portfolio Characteristics (% of Net Assets) on 6/30/17
U.S. Government Agency Obligations and Instrumentalities	32.0	%
U.S. Treasury Obligations	26.7	%
Corporate Debt	26.1	%
Non-U.S. Government Agency Obligations	14.1	%
Municipal Obligations	1.4	%
Bank Loans	0.1	%
Total Long-Term Investments	100.4	%
Short-Term Investments and Other Assets and Liabilities	(0.4	)%
Net Assets	100.0	%

21

MML Blue Chip Growth Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.6%
COMMON STOCK — 99.6%
Basic Materials — 0.3%
Chemicals — 0.3%
E.I. du Pont de Nemours & Co.		300	$	24,214
PPG Industries, Inc.		300		32,988
The Sherwin-Williams Co.		2,600		912,496
				969,698
Communications — 31.4%
Internet — 31.3%
Alibaba Group Holding Ltd. Sponsored ADR (a)		75,846		10,686,701
Alphabet, Inc. Class A (a)		9,000		8,367,120
Alphabet, Inc. Class C (a)		16,556		15,044,934
Amazon.com, Inc. (a)		31,249		30,249,032
Ctrip.com International Ltd. ADR (a)		36,340		1,957,272
Facebook, Inc. Class A (a)		119,776		18,083,781
MercadoLibre, Inc.		100		25,088
Netflix, Inc. (a)		21,900		3,272,079
The Priceline Group, Inc. (a)		8,470		15,843,304
Snap, Inc. Class A (a)		1,700		30,209
Tencent Holdings Ltd.		183,200		6,537,527
				110,097,047
Media — 0.1%
Charter Communications, Inc. Class A (a)		132		44,464
Comcast Corp. Class A		4,300		167,356
The Walt Disney Co.		300		31,875
				243,695
				110,340,742
Consumer, Cyclical — 11.7%
Airlines — 2.9%
Alaska Air Group, Inc.		34,200		3,069,792
American Airlines Group, Inc.		111,400		5,605,648
Delta Air Lines, Inc.		700		37,618
United Continental Holdings, Inc. (a)		17,381		1,307,920
				10,020,978
Auto Manufacturers — 1.2%
Ferrari NV		10,700		920,414
Tesla, Inc. (a)		9,502		3,436,018
				4,356,432
Auto Parts & Equipment — 0.3%
Delphi Automotive PLC		12,200		1,069,330
Leisure Time — 0.5%
Norwegian Cruise Line Holdings Ltd. (a)		400		21,716

	Number of Shares		Value
Royal Caribbean Cruises Ltd.		16,600	$	1,813,218
				1,834,934
Lodging — 1.5%
Hilton Worldwide Holdings, Inc.		20,376		1,260,256
Marriott International, Inc. Class A		25,687		2,576,663
MGM Resorts International		41,727		1,305,638
				5,142,557
Retail — 5.3%
AutoZone, Inc. (a)		1,200		684,552
Coach, Inc.		14,400		681,696
Costco Wholesale Corp.		300		47,979
Dollar General Corp.		9,000		648,810
Domino’s Pizza, Inc.		727		153,782
The Home Depot, Inc.		29,000		4,448,600
Lowe’s Cos., Inc.		12,200		945,866
McDonald’s Corp.		5,000		765,800
O’Reilly Automotive, Inc. (a)		9,144		2,000,158
Ross Stores, Inc.		31,200		1,801,176
Starbucks Corp.		32,451		1,892,218
Walgreens Boots Alliance, Inc.		27,700		2,169,187
Yum! Brands, Inc.		33,600		2,478,336
				18,718,160
				41,142,391
Consumer, Non-cyclical — 20.6%
Agriculture — 1.2%
Philip Morris International, Inc.		36,300		4,263,435
Beverages — 0.2%
Constellation Brands, Inc. Class A		3,600		697,428
Monster Beverage Corp. (a)		2,200		109,296
				806,724
Biotechnology — 4.0%
Alexion Pharmaceuticals, Inc. (a)		30,395		3,698,160
Biogen, Inc. (a)		9,400		2,550,784
Celgene Corp. (a)		27,400		3,558,438
Illumina, Inc. (a)		826		143,327
Regeneron Pharmaceuticals, Inc. (a)		200		98,228
Vertex Pharmaceuticals, Inc. (a)		31,700		4,085,179
				14,134,116
Commercial Services — 2.1%
Equifax, Inc.		8,400		1,154,328
FleetCor Technologies, Inc. (a)		2,800		403,788
Global Payments, Inc.		8,900		803,848
IHS Markit Ltd. (a)		15,791		695,436
PayPal Holdings, Inc. (a)		67,100		3,601,257
S&P Global, Inc.		3,600		525,564
Vantiv, Inc. Class A (a)		600		38,004
				7,222,225

The accompanying notes are an integral part of the financial statements.

22

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

	Number of Shares		Value
Health Care – Products — 6.6%
Becton, Dickinson & Co.		22,116	$	4,315,053
Danaher Corp.		61,260		5,169,732
DENTSPLY SIRONA, Inc.		500		32,420
Henry Schein, Inc. (a)		200		36,604
Intuitive Surgical, Inc. (a)		5,500		5,144,535
Stryker Corp.		34,530		4,792,073
Thermo Fisher Scientific, Inc.		20,371		3,554,128
				23,044,545
Health Care – Services — 5.2%
Aetna, Inc.		21,039		3,194,351
Cigna Corp.		17,400		2,912,586
Humana, Inc.		14,100		3,392,742
UnitedHealth Group, Inc.		48,100		8,918,702
				18,418,381
Pharmaceuticals — 1.3%
Allergan PLC		12,254		2,978,825
Bristol-Myers Squibb Co.		800		44,576
Merck & Co., Inc.		12,500		801,125
Shire PLC ADR		1,219		201,464
Zoetis, Inc.		11,400		711,132
				4,737,122
				72,626,548
Financial — 17.0%
Banks — 5.1%
The Bank of New York Mellon Corp.		5,600		285,712
Citigroup, Inc.		13,300		889,504
Citizens Financial Group, Inc.		32,200		1,148,896
First Republic Bank		15,369		1,538,437
The Goldman Sachs Group, Inc.		200		44,380
JP Morgan Chase & Co.		32,800		2,997,920
Morgan Stanley		171,100		7,624,216
State Street Corp.		39,000		3,499,470
				18,028,535
Diversified Financial Services — 8.9%
Ameriprise Financial, Inc.		200		25,458
The Charles Schwab Corp.		45,200		1,941,792
CME Group, Inc.		4,500		563,580
Intercontinental Exchange, Inc.		65,200		4,297,984
Mastercard, Inc. Class A		74,242		9,016,691
TD Ameritrade Holding Corp.		105,500		4,535,445
Visa, Inc. Class A		115,320		10,814,709
				31,195,659
Insurance — 1.0%
Chubb Ltd.		1,000		145,380
Marsh & McLennan Cos., Inc.		13,000		1,013,480
The Progressive Corp.		14,300		630,487
Willis Towers Watson PLC		10,793		1,569,950
				3,359,297

	Number of Shares		Value
Real Estate Investment Trusts (REITS) — 2.0%
American Tower Corp.		44,670	$	5,910,734
Equinix, Inc.		2,509		1,076,763
SBA Communications Corp. (a)		1,400		188,860
				7,176,357
				59,759,848
Industrial — 4.7%
Aerospace & Defense — 2.0%
The Boeing Co.		29,800		5,892,950
General Dynamics Corp.		100		19,810
Harris Corp.		1,600		174,528
Northrop Grumman Corp.		2,700		693,117
Raytheon Co.		300		48,444
Rockwell Collins, Inc.		3,400		357,272
				7,186,121
Building Materials — 0.0%
Johnson Controls International PLC		1,000		43,360
Electronics — 1.3%
Agilent Technologies, Inc.		2,600		154,206
Fortive Corp.		43,080		2,729,118
Honeywell International, Inc.		12,100		1,612,809
				4,496,133
Hand & Machine Tools — 0.1%
Stanley Black & Decker, Inc.		2,700		379,971
Machinery – Diversified — 0.6%
Roper Technologies, Inc.		8,100		1,875,393
Wabtec Corp.		1,900		173,850
				2,049,243
Miscellaneous – Manufacturing — 0.0%
Textron, Inc.		700		32,970
Packaging & Containers — 0.3%
Ball Corp.		24,516		1,034,820
Transportation — 0.4%
Canadian Pacific Railway Ltd.		5,100		820,131
CSX Corp.		7,400		403,744
FedEx Corp.		600		130,398
Union Pacific Corp.		400		43,564
				1,397,837
				16,620,455
Technology — 13.7%
Computers — 1.6%
Apple, Inc.		38,567		5,554,419
Semiconductors — 1.6%
Analog Devices, Inc.		6,100		474,580
Broadcom Ltd.		14,700		3,425,835
KLA-Tencor Corp.		6,800		622,268
Microchip Technology, Inc.		13,000		1,003,340
Xilinx, Inc.		1,100		70,752
				5,596,775

The accompanying notes are an integral part of the financial statements.

23

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

	Number of Shares		Value
Software — 10.5%
Activision Blizzard, Inc.		600	$	34,542
Electronic Arts, Inc. (a)		22,400		2,368,128
Fidelity National Information Services, Inc.		20,723		1,769,744
Fiserv, Inc. (a)		30,240		3,699,562
Intuit, Inc.		15,200		2,018,712
Microsoft Corp.		179,800		12,393,614
Red Hat, Inc. (a)		24,848		2,379,196
salesforce.com, Inc. (a)		67,300		5,828,180
ServiceNow, Inc. (a)		44,950		4,764,700
Workday, Inc. Class A (a)		17,200		1,668,400
				36,924,778
				48,075,972
Utilities — 0.2%
Electric — 0.2%
NextEra Energy, Inc.		5,600		784,728
TOTAL COMMON STOCK (Cost $218,577,243)				350,320,382
TOTAL EQUITIES (Cost $218,577,243)				350,320,382
MUTUAL FUNDS — 0.0%
Diversified Financial Services — 0.0%
T. Rowe Price Reserve Investment Fund		1,022		1,022
TOTAL MUTUAL FUNDS (Cost $1,022)				1,022
TOTAL LONG-TERM INVESTMENTS (Cost $218,578,265)				350,321,404
	Principal Amount
SHORT-TERM INVESTMENTS — 0.7%
Repurchase Agreement — 0.7%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	2,413,487		2,413,487
TOTAL SHORT-TERM INVESTMENTS (Cost $2,413,487)				2,413,487
TOTAL INVESTMENTS — 100.3% (Cost $220,991,752) (c)				352,734,891
Other Assets/(Liabilities) — (0.3)%				(1,143,845	)
NET ASSETS — 100.0%			$	351,591,046

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Maturity value of $2,413,497. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $2,465,633.

(c) See Note 6 for aggregate cost for federal tax purposes.

Country weightings, as a percentage of net assets, is as follows:

United States	90.2	%
Cayman Islands	5.5	%
Ireland	1.4	%
Singapore	1.0	%
Liberia	0.5	%
United Kingdom	0.3	%
Netherlands	0.3	%
Canada	0.2	%
Bermuda	0.2	%
Switzerland	0.0	%
Total Long-Term Investments	99.6	%
Short-Term Investments and Other Assets and Liabilities	0.4	%
Net Assets	100.0	%

The accompanying notes are an integral part of the financial statements.

24

MML Equity Income Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.6%
COMMON STOCK — 95.8%
Basic Materials — 4.2%
Chemicals — 2.6%
Akzo Nobel NV		6,605	$	573,386
CF Industries Holdings, Inc.		144,500		4,040,220
E.I. du Pont de Nemours & Co.		107,500		8,676,325
				13,289,931
Forest Products & Paper — 1.0%
International Paper Co.		90,900		5,145,849
Iron & Steel — 0.6%
Nucor Corp.		50,400		2,916,648
				21,352,428
Communications — 8.1%
Media — 4.0%
Comcast Corp. Class A		168,600		6,561,912
News Corp. Class A		302,100		4,138,770
Time Warner, Inc.		5,833		585,692
Twenty-First Century Fox, Inc. Class B		258,900		7,215,543
The Walt Disney Co.		18,600		1,976,250
				20,478,167
Telecommunications — 4.1%
CenturyLink, Inc.		88,905		2,123,051
Cisco Systems, Inc.		196,900		6,162,970
Telefonica SA		169,019		1,747,583
Verizon Communications, Inc.		206,135		9,205,989
Vodafone Group PLC		533,271		1,513,311
				20,752,904
				41,231,071
Consumer, Cyclical — 5.7%
Airlines — 0.7%
Delta Air Lines, Inc.		24,400		1,311,256
Southwest Airlines Co.		35,100		2,181,114
				3,492,370
Auto Manufacturers — 0.4%
Ford Motor Co.		162,900		1,822,851
Auto Parts & Equipment — 0.6%
Adient PLC		45,281		2,960,472
Leisure Time — 0.4%
Carnival Corp.		35,000		2,294,950
Lodging — 1.1%
Las Vegas Sands Corp.		84,200		5,379,538
Retail — 1.9%
Kohl’s Corp.		78,100		3,020,127
Macy’s, Inc.		76,700		1,782,508

	Number of Shares		Value
Wal-Mart Stores, Inc.		64,500	$	4,881,360
				9,683,995
Toys, Games & Hobbies — 0.6%
Mattel, Inc.		145,700		3,136,921
				28,771,097
Consumer, Non-cyclical — 15.9%
Agriculture — 1.7%
Archer-Daniels-Midland Co.		123,800		5,122,844
Philip Morris International, Inc.		29,600		3,476,520
				8,599,364
Beverages — 1.7%
Diageo PLC		88,135		2,605,392
PepsiCo, Inc.		50,100		5,786,049
				8,391,441
Biotechnology — 1.0%
Gilead Sciences, Inc.		73,400		5,195,252
Cosmetics & Personal Care — 0.5%
Avon Products, Inc. (a)		80,700		306,660
Coty, Inc. Class A		125,673		2,357,625
				2,664,285
Foods — 1.4%
Kellogg Co.		31,000		2,153,260
Tyson Foods, Inc. Class A		83,000		5,198,290
				7,351,550
Health Care – Products — 1.9%
Becton, Dickinson & Co.		21,100		4,116,821
Medtronic PLC		60,700		5,387,125
				9,503,946
Health Care – Services — 1.7%
Anthem, Inc.		45,000		8,465,850
Pharmaceuticals — 6.0%
Bristol-Myers Squibb Co.		82,000		4,569,040
GlaxoSmithKline PLC		130,991		2,790,257
Johnson & Johnson		78,700		10,411,223
Merck & Co., Inc.		76,400		4,896,476
Pfizer, Inc.		230,454		7,740,950
				30,407,946
				80,579,634
Energy — 9.4%
Oil & Gas — 9.3%
Apache Corp.		83,386		3,996,691
Canadian Natural Resources Ltd.		68,900		1,987,076
Chevron Corp.		49,700		5,185,201
EQT Corp.		15,480		906,973
Exxon Mobil Corp.		151,300		12,214,449
Hess Corp.		94,900		4,163,263
Occidental Petroleum Corp.		98,700		5,909,169

The accompanying notes are an integral part of the financial statements.

25

MML Equity Income Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Royal Dutch Shell PLC A Shares Sponsored ADR		69,500	$	3,696,705
Total SA		183,611		9,097,285
				47,156,812
Pipelines — 0.1%
TransCanada Corp.		15,100		719,817
				47,876,629
Financial — 28.0%
Banks — 17.9%
Bank of America Corp.		67,677		1,641,844
The Bank of New York Mellon Corp.		89,100		4,545,882
Citigroup, Inc.		115,700		7,738,016
Fifth Third Bancorp		232,000		6,022,720
JP Morgan Chase & Co.		198,600		18,152,040
KeyCorp		205,800		3,856,692
Morgan Stanley		238,500		10,627,560
Northern Trust Corp.		49,300		4,792,453
The PNC Financial Services Group, Inc.		38,700		4,832,469
Royal Bank of Scotland Group PLC (a)		409,069		1,318,262
State Street Corp.		97,100		8,712,783
US Bancorp		125,000		6,490,000
Wells Fargo & Co.		216,600		12,001,806
				90,732,527
Diversified Financial Services — 1.9%
American Express Co.		38,100		3,209,544
Ameriprise Financial, Inc.		50,300		6,402,687
				9,612,231
Insurance — 6.1%
American International Group, Inc.		54,400		3,401,088
Chubb Ltd.		17,608		2,559,851
Loews Corp.		164,600		7,704,926
Marsh & McLennan Cos., Inc.		57,400		4,474,904
MetLife, Inc.		148,300		8,147,602
Willis Towers Watson PLC		20,141		2,929,710
XL Group Ltd.		37,770		1,654,326
				30,872,407
Real Estate Investment Trusts (REITS) — 2.1%
Equity Residential		49,100		3,232,253
Rayonier, Inc.		143,041		4,115,290
Weyerhaeuser Co.		105,271		3,526,578
				10,874,121
				142,091,286
Industrial — 12.3%
Aerospace & Defense — 3.5%
The Boeing Co.		49,100		9,709,525
Harris Corp.		66,335		7,235,822

	Number of Shares		Value
United Technologies Corp.		5,394	$	658,661
				17,604,008
Building Materials — 2.4%
Johnson Controls International PLC		195,015		8,455,850
Vulcan Materials Co.		30,800		3,901,744
				12,357,594
Electrical Components & Equipment — 1.0%
Emerson Electric Co.		81,500		4,859,030
Electronics — 0.4%
TE Connectivity Ltd.		23,600		1,856,848
Machinery – Diversified — 0.8%
Cummins, Inc.		11,200		1,816,864
Flowserve Corp.		53,292		2,474,348
				4,291,212
Miscellaneous – Manufacturing — 3.1%
General Electric Co.		237,500		6,414,875
Illinois Tool Works, Inc.		43,100		6,174,075
Pentair PLC		49,300		3,280,422
				15,869,372
Transportation — 1.1%
United Parcel Service, Inc. Class B		51,900		5,739,621
				62,577,685
Technology — 6.6%
Computers — 1.0%
Apple, Inc.		15,200		2,189,104
Western Digital Corp.		32,300		2,861,780
				5,050,884
Semiconductors — 3.4%
Analog Devices, Inc.		19,457		1,513,755
Applied Materials, Inc.		129,900		5,366,169
QUALCOMM, Inc.		139,100		7,681,102
Texas Instruments, Inc.		37,573		2,890,491
				17,451,517
Software — 2.2%
CA, Inc.		26,700		920,349
Microsoft Corp.		146,200		10,077,566
				10,997,915
				33,500,316
Utilities — 5.6%
Electric — 4.6%
The AES Corp.		116,600		1,295,426
Edison International		61,100		4,777,409
Exelon Corp.		104,100		3,754,887
PG&E Corp.		98,900		6,563,993
The Southern Co.		90,827		4,348,797
Xcel Energy, Inc.		58,300		2,674,804
				23,415,316

The accompanying notes are an integral part of the financial statements.

26

MML Equity Income Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Gas — 1.0%
NiSource, Inc.		204,200	$	5,178,512
				28,593,828
TOTAL COMMON STOCK (Cost $382,025,808)				486,573,974
PREFERRED STOCK — 1.8%
Consumer, Non-cyclical — 0.7%
Health Care – Products — 0.7%
Becton Dickinson and Co. 6.125%		63,549		3,481,214
Utilities — 1.1%
Electric — 1.1%
DTE Energy Co. 6.500%		15,505		850,449
Great Plains Energy, Inc. 7.000%		27,033		1,433,830
NextEra Energy, Inc. 6.123%		64,753		3,497,310
				5,781,589
TOTAL PREFERRED STOCK (Cost $8,475,041)				9,262,803
TOTAL EQUITIES (Cost $390,500,849)				495,836,777
	Principal Amount
BONDS & NOTES — 0.2%
CORPORATE DEBT — 0.2%
Computers — 0.2%
Western Digital Corp. 10.500% 4/01/24	$	695,000		819,878
TOTAL CORPORATE DEBT (Cost $683,554)				819,878
TOTAL BONDS & NOTES (Cost $683,554)				819,878
	Number of Shares
MUTUAL FUNDS — 0.0%
Diversified Financial Services — 0.0%
T. Rowe Price Reserve Investment Fund		1,022		1,022
				1,022
TOTAL MUTUAL FUNDS (Cost $1,022)				1,022
TOTAL LONG-TERM INVESTMENTS (Cost $391,185,425)				496,657,677

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 1.8%
Repurchase Agreement — 1.8%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	9,347,713	$	9,347,713
TOTAL SHORT-TERM INVESTMENTS (Cost $9,347,713)				9,347,713
TOTAL INVESTMENTS — 99.6% (Cost $400,533,138) (c)				506,005,390
Other Assets/(Liabilities) — 0.4%				2,144,843
NET ASSETS — 100.0%			$	508,150,233

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Maturity value of $9,347,752. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $9,537,171.

(c) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

27

MML Equity Index Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.2%
COMMON STOCK — 99.2%
Basic Materials — 2.3%
Chemicals — 1.9%
Air Products & Chemicals, Inc.		7,266	$	1,039,474
Albemarle Corp.		3,667		387,015
CF Industries Holdings, Inc.		7,717		215,767
The Dow Chemical Co.		37,376		2,357,304
E.I. du Pont de Nemours & Co.		28,811		2,325,336
Eastman Chemical Co.		4,893		410,963
FMC Corp.		4,429		323,539
International Flavors & Fragrances, Inc.		2,590		349,650
LyondellBasell Industries NV Class A		10,959		924,830
Monsanto Co.		14,603		1,728,411
The Mosaic Co.		11,736		267,933
PPG Industries, Inc.		8,545		939,608
Praxair, Inc.		9,526		1,262,671
The Sherwin-Williams Co.		2,683		941,626
				13,474,127
Forest Products & Paper — 0.1%
International Paper Co.		13,811		781,841
Iron & Steel — 0.1%
Nucor Corp.		10,551		610,586
Mining — 0.2%
Freeport-McMoRan, Inc. (a)		43,896		527,191
Newmont Mining Corp.		17,587		569,643
				1,096,834
				15,963,388
Communications — 13.4%
Advertising — 0.2%
The Interpublic Group of Cos., Inc.		12,950		318,570
Omnicom Group, Inc.		7,688		637,335
				955,905
Internet — 7.3%
Alphabet, Inc. Class A (a)		9,893		9,197,324
Alphabet, Inc. Class C (a)		9,918		9,012,784
Amazon.com, Inc. (a)		13,186		12,764,048
eBay, Inc. (a)		33,318		1,163,465
Expedia, Inc.		4,067		605,780
F5 Networks, Inc. (a)		2,162		274,704
Facebook, Inc. Class A (a)		78,564		11,861,593
Netflix, Inc. (a)		14,309		2,137,908
The Priceline Group, Inc. (a)		1,636		3,060,171
Symantec Corp.		20,218		571,158
TripAdvisor, Inc. (a)		3,592		137,214
VeriSign, Inc. (a)		2,897		269,305
				51,055,454

	Number of Shares		Value
Media — 2.9%
CBS Corp. Class B		12,320	$	785,770
Charter Communications, Inc. Class A (a)		7,175		2,416,899
Comcast Corp. Class A		157,379		6,125,191
Discovery Communications, Inc. Class A (a)		5,118		132,198
Discovery Communications, Inc. Class C (a)		7,026		177,125
DISH Network Corp. Class A (a)		7,504		470,951
News Corp. Class A		13,028		178,484
News Corp. Class B		3,915		55,397
Scripps Networks Interactive, Inc. Class A		3,150		215,176
Time Warner, Inc.		25,744		2,584,955
Twenty-First Century Fox, Inc. Class A		35,077		994,082
Twenty-First Century Fox, Inc. Class B		16,125		449,404
Viacom, Inc. Class B		11,791		395,824
The Walt Disney Co.		48,365		5,138,781
				20,120,237
Telecommunications — 3.0%
AT&T, Inc.		204,484		7,715,182
CenturyLink, Inc.		18,117		432,634
Cisco Systems, Inc.		166,051		5,197,396
Juniper Networks, Inc.		12,727		354,829
Level 3 Communications, Inc. (a)		9,667		573,253
Motorola Solutions, Inc.		5,376		466,314
Verizon Communications, Inc.		135,552		6,053,752
				20,793,360
				92,924,956
Consumer, Cyclical — 8.8%
Airlines — 0.6%
Alaska Air Group, Inc.		4,104		368,375
American Airlines Group, Inc.		16,382		824,342
Delta Air Lines, Inc.		24,464		1,314,695
Southwest Airlines Co.		20,094		1,248,641
United Continental Holdings, Inc. (a)		9,370		705,093
				4,461,146
Apparel — 0.6%
Hanesbrands, Inc.		12,076		279,680
Michael Kors Holdings Ltd. (a)		5,173		187,521
NIKE, Inc. Class B		44,025		2,597,475
Ralph Lauren Corp.		1,791		132,176
Under Armour, Inc. Class A (a)		6,340		137,958
Under Armour, Inc. Class C (a)		6,326		127,532
VF Corp.		10,631		612,346
				4,074,688

The accompanying notes are an integral part of the financial statements.

28

MML Equity Index Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Auto Manufacturers — 0.5%
Ford Motor Co.		130,066	$	1,455,439
General Motors Co.		45,752		1,598,117
PACCAR, Inc.		11,608		766,592
				3,820,148
Auto Parts & Equipment — 0.2%
BorgWarner, Inc.		6,641		281,313
Delphi Automotive PLC		8,864		776,929
The Goodyear Tire & Rubber Co.		8,259		288,735
				1,346,977
Distribution & Wholesale — 0.2%
Fastenal Co.		9,562		416,234
LKQ Corp. (a)		10,367		341,593
W.W. Grainger, Inc.		1,812		327,120
				1,084,947
Home Builders — 0.1%
D.R. Horton, Inc.		11,334		391,816
Lennar Corp. Class A		6,792		362,149
PulteGroup, Inc.		9,426		231,220
				985,185
Home Furnishing — 0.1%
Leggett & Platt, Inc.		4,420		232,183
Whirlpool Corp.		2,434		466,403
				698,586
Housewares — 0.1%
Newell Brands, Inc.		15,972		856,419
Leisure Time — 0.3%
Carnival Corp.		13,898		911,292
Harley-Davidson, Inc.		5,745		310,345
Royal Caribbean Cruises Ltd.		5,548		606,008
				1,827,645
Lodging — 0.3%
Hilton Worldwide Holdings, Inc.		6,812		421,322
Marriott International, Inc. Class A		10,330		1,036,202
Wyndham Worldwide Corp.		3,426		344,005
Wynn Resorts Ltd.		2,629		352,602
				2,154,131
Retail — 5.6%
Advance Auto Parts, Inc.		2,456		286,345
AutoNation, Inc. (a)		2,099		88,494
AutoZone, Inc. (a)		941		536,803
Bed Bath & Beyond, Inc.		4,791		145,646
Best Buy Co., Inc.		8,820		505,651
CarMax, Inc. (a)		6,167		388,891
Chipotle Mexican Grill, Inc. (a)		964		401,120
Coach, Inc.		9,350		442,629
Costco Wholesale Corp.		14,581		2,331,939
CVS Health Corp.		33,859		2,724,295
Darden Restaurants, Inc.		4,157		375,959

	Number of Shares		Value
Dollar General Corp.		8,402	$	605,700
Dollar Tree, Inc. (a)		7,801		545,446
Foot Locker, Inc.		4,372		215,452
The Gap, Inc.		7,404		162,814
Genuine Parts Co.		4,930		457,307
The Home Depot, Inc.		39,736		6,095,502
Kohl’s Corp.		5,567		215,276
L Brands, Inc.		7,986		430,366
Lowe’s Cos., Inc.		28,520		2,211,156
Macy’s, Inc.		10,280		238,907
McDonald’s Corp.		27,093		4,149,564
Nordstrom, Inc.		3,697		176,828
O’Reilly Automotive, Inc. (a)		3,040		664,970
PVH Corp.		2,617		299,647
Ross Stores, Inc.		12,976		749,104
Signet Jewelers Ltd.		2,192		138,622
Staples, Inc.		21,700		218,519
Starbucks Corp.		48,140		2,807,043
Target Corp.		18,339		958,946
Tiffany & Co.		3,602		338,120
The TJX Cos., Inc.		21,376		1,542,706
Tractor Supply Co.		4,288		232,452
Ulta Salon Cosmetics & Fragrance, Inc. (a)		1,943		558,302
Wal-Mart Stores, Inc.		49,084		3,714,677
Walgreens Boots Alliance, Inc.		28,370		2,221,655
Yum! Brands, Inc.		10,996		811,065
				38,987,918
Textiles — 0.1%
Mohawk Industries, Inc. (a)		2,084		503,682
Toys, Games & Hobbies — 0.1%
Hasbro, Inc.		3,754		418,608
Mattel, Inc.		11,317		243,655
				662,263
				61,463,735
Consumer, Non-cyclical — 23.1%
Agriculture — 1.9%
Altria Group, Inc.		64,184		4,779,783
Archer-Daniels-Midland Co.		19,069		789,075
Philip Morris International, Inc.		51,667		6,068,289
Reynolds American, Inc.		27,426		1,783,787
				13,420,934
Beverages — 2.1%
Brown-Forman Corp. Class B		5,966		289,948
The Coca-Cola Co.		127,776		5,730,754
Constellation Brands, Inc. Class A		5,685		1,101,355
Dr. Pepper Snapple Group, Inc.		6,088		554,678
Molson Coors Brewing Co. Class B		6,101		526,760
Monster Beverage Corp. (a)		13,434		667,401
PepsiCo, Inc.		47,519		5,487,969
				14,358,865

The accompanying notes are an integral part of the financial statements.

29

MML Equity Index Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Biotechnology — 2.5%
Alexion Pharmaceuticals, Inc. (a)		7,432	$	904,251
Amgen, Inc.		24,490		4,217,913
Biogen, Inc. (a)		7,101		1,926,927
Celgene Corp. (a)		25,957		3,371,036
Gilead Sciences, Inc.		43,460		3,076,099
Illumina, Inc. (a)		4,869		844,869
Incyte Corp. (a)		5,625		708,244
Regeneron Pharmaceuticals, Inc. (a)		2,531		1,243,075
Vertex Pharmaceuticals, Inc. (a)		8,298		1,069,363
				17,361,777
Commercial Services — 1.6%
Automatic Data Processing, Inc.		14,855		1,522,043
Cintas Corp.		2,884		363,499
Ecolab, Inc.		8,676		1,151,739
Equifax, Inc.		3,969		545,420
Gartner, Inc. (a)		2,993		369,666
Global Payments, Inc.		5,110		461,535
H&R Block, Inc.		7,043		217,699
IHS Markit Ltd. (a)		10,552		464,710
Moody’s Corp.		5,518		671,430
Nielsen Holdings PLC		11,132		430,363
PayPal Holdings, Inc. (a)		37,125		1,992,499
Quanta Services, Inc. (a)		5,077		167,135
Robert Half International, Inc.		4,296		205,907
S&P Global, Inc.		8,596		1,254,930
Total System Services, Inc.		5,475		318,919
United Rentals, Inc. (a)		2,825		318,406
Verisk Analytics, Inc. (a)		5,162		435,518
The Western Union Co.		15,524		295,732
				11,187,150
Cosmetics & Personal Care — 1.5%
Colgate-Palmolive Co.		29,313		2,172,973
Coty, Inc. Class A		15,568		292,056
The Estee Lauder Cos., Inc. Class A		7,468		716,778
The Procter & Gamble Co.		85,012		7,408,796
				10,590,603
Foods — 1.5%
Campbell Soup Co.		6,461		336,941
Conagra Brands, Inc.		13,413		479,649
General Mills, Inc.		19,120		1,059,248
The Hershey Co.		4,627		496,801
Hormel Foods Corp.		8,936		304,807
The J.M. Smucker Co.		3,855		456,162
Kellogg Co.		8,370		581,380
The Kraft Heinz Co.		19,881		1,702,609
The Kroger Co.		30,322		707,109
McCormick & Co., Inc.		3,722		362,932
Mondelez International, Inc. Class A		50,432		2,178,158
Sysco Corp.		16,307		820,731
Tyson Foods, Inc. Class A		9,629		603,064

	Number of Shares		Value
Whole Foods Market, Inc.		10,723	$	451,546
				10,541,137
Health Care – Products — 3.3%
Abbott Laboratories		57,627		2,801,248
Align Technology, Inc. (a)		2,507		376,351
Baxter International, Inc.		16,230		982,564
Becton, Dickinson & Co.		7,551		1,473,276
Boston Scientific Corp. (a)		45,492		1,261,038
C.R. Bard, Inc.		2,417		764,038
The Cooper Cos., Inc.		1,642		393,128
Danaher Corp.		20,294		1,712,611
DENTSPLY SIRONA, Inc.		7,643		495,572
Edwards Lifesciences Corp. (a)		6,969		824,015
Henry Schein, Inc. (a)		2,661		487,016
Hologic, Inc. (a)		9,278		421,036
IDEXX Laboratories, Inc. (a)		2,905		468,925
Intuitive Surgical, Inc. (a)		1,219		1,140,216
Medtronic PLC		45,511		4,039,101
Patterson Cos., Inc.		2,640		123,948
Stryker Corp.		10,304		1,429,989
Thermo Fisher Scientific, Inc.		13,018		2,271,250
Varian Medical Systems, Inc. (a)		3,090		318,857
Zimmer Biomet Holdings, Inc.		6,722		863,105
				22,647,284
Health Care – Services — 2.2%
Aetna, Inc.		11,029		1,674,533
Anthem, Inc.		8,787		1,653,099
Centene Corp. (a)		5,690		454,517
Cigna Corp.		8,498		1,422,480
DaVita, Inc. (a)		5,135		332,543
Envision Healthcare Corp. (a)		3,881		243,222
HCA Healthcare, Inc. (a)		9,560		833,632
Humana, Inc.		4,790		1,152,570
Laboratory Corp. of America Holdings (a)		3,408		525,309
Quest Diagnostics, Inc.		4,589		510,113
UnitedHealth Group, Inc.		32,041		5,941,042
Universal Health Services, Inc. Class B		2,996		365,752
				15,108,812
Household Products & Wares — 0.4%
Avery Dennison Corp.		2,963		261,840
Church & Dwight Co., Inc.		8,366		434,028
The Clorox Co.		4,263		568,002
Kimberly-Clark Corp.		11,789		1,522,078
				2,785,948
Pharmaceuticals — 6.1%
AbbVie, Inc.		52,863		3,833,096
Allergan PLC		11,152		2,710,940
AmerisourceBergen Corp.		5,542		523,885
Bristol-Myers Squibb Co.		54,758		3,051,116

The accompanying notes are an integral part of the financial statements.

30

MML Equity Index Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Cardinal Health, Inc.		10,476	$	816,290
Eli Lilly & Co.		32,316		2,659,607
Express Scripts Holding Co. (a)		19,715		1,258,606
Johnson & Johnson		89,531		11,844,056
Mallinckrodt PLC (a)		3,245		145,408
McKesson Corp.		7,027		1,156,223
Merck & Co., Inc.		90,907		5,826,230
Mylan NV (a)		15,244		591,772
Perrigo Co. PLC		4,794		362,043
Pfizer, Inc.		198,328		6,661,837
Zoetis, Inc.		16,367		1,020,973
				42,462,082
				160,464,592
Diversified — 0.0%
Holding Company – Diversified — 0.0%
Leucadia National Corp.		10,713		280,252
Energy — 6.0%
Oil & Gas — 4.8%
Anadarko Petroleum Corp.		18,727		849,082
Apache Corp.		12,562		602,097
Cabot Oil & Gas Corp.		15,592		391,047
Chesapeake Energy Corp. (a)		25,699		127,724
Chevron Corp.		62,957		6,568,304
Cimarex Energy Co.		3,165		297,542
Concho Resources, Inc. (a)		4,938		600,115
ConocoPhillips		41,056		1,804,822
Devon Energy Corp.		17,345		554,520
EOG Resources, Inc.		19,207		1,738,618
EQT Corp.		5,799		339,763
Exxon Mobil Corp.		140,826		11,368,883
Helmerich & Payne, Inc.		3,574		194,211
Hess Corp.		9,044		396,760
Marathon Oil Corp.		28,064		332,558
Marathon Petroleum Corp.		17,239		902,117
Murphy Oil Corp.		5,553		142,323
Newfield Exploration Co. (a)		6,525		185,701
Noble Energy, Inc.		15,133		428,264
Occidental Petroleum Corp.		25,479		1,525,428
Phillips 66		14,539		1,202,230
Pioneer Natural Resources Co.		5,684		907,053
Range Resources Corp.		6,298		145,925
Tesoro Corp.		5,022		470,059
Transocean Ltd. (a)		13,142		108,159
Valero Energy Corp.		14,847		1,001,578
				33,184,883
Oil & Gas Services — 0.8%
Baker Hughes, Inc.		14,186		773,279
Halliburton Co.		28,865		1,232,824
National Oilwell Varco, Inc.		12,498		411,684
Schlumberger Ltd.		46,189		3,041,084
TechnipFMC PLC (a)		15,565		423,368
				5,882,239

	Number of Shares		Value
Pipelines — 0.4%
Kinder Morgan, Inc.		63,610	$	1,218,768
ONEOK, Inc.		12,627		658,624
The Williams Cos., Inc.		27,502		832,761
				2,710,153
				41,777,275
Financial — 18.5%
Banks — 7.8%
Bank of America Corp.		330,874		8,027,003
The Bank of New York Mellon Corp.		34,710		1,770,904
BB&T Corp.		26,886		1,220,893
Capital One Financial Corp.		16,097		1,329,934
Citigroup, Inc.		91,523		6,121,058
Citizens Financial Group, Inc.		16,952		604,847
Comerica, Inc.		5,872		430,065
Fifth Third Bancorp		25,027		649,701
The Goldman Sachs Group, Inc.		12,175		2,701,633
Huntington Bancshares, Inc.		35,920		485,638
JP Morgan Chase & Co.		118,098		10,794,157
KeyCorp		36,414		682,398
M&T Bank Corp.		5,138		832,099
Morgan Stanley		47,416		2,112,857
Northern Trust Corp.		6,732		654,418
The PNC Financial Services Group, Inc.		16,081		2,008,035
Regions Financial Corp.		40,061		586,493
State Street Corp.		11,761		1,055,315
SunTrust Banks, Inc.		16,065		911,207
US Bancorp		52,616		2,731,823
Wells Fargo & Co.		149,475		8,282,410
Zions Bancorp		6,735		295,734
				54,288,622
Diversified Financial Services — 3.4%
Affiliated Managers Group, Inc.		1,887		312,978
Alliance Data Systems Corp.		1,858		476,930
American Express Co.		24,944		2,101,283
Ameriprise Financial, Inc.		5,048		642,560
BlackRock, Inc.		4,029		1,701,890
CBOE Holdings, Inc.		3,060		279,684
The Charles Schwab Corp.		40,423		1,736,572
CME Group, Inc.		11,334		1,419,470
Discover Financial Services		12,633		785,646
E*TRADE Financial Corp. (a)		9,075		345,122
Franklin Resources, Inc.		11,509		515,488
Intercontinental Exchange, Inc.		19,755		1,302,250
Invesco Ltd.		13,575		477,704
Mastercard, Inc. Class A		31,164		3,784,868
Nasdaq, Inc.		3,782		270,375
Navient Corp.		9,488		157,975
Raymond James Financial, Inc.		4,271		342,620
Synchrony Financial		25,621		764,018
T. Rowe Price Group, Inc.		8,072		599,023

The accompanying notes are an integral part of the financial statements.

31

MML Equity Index Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Visa, Inc. Class A		61,348	$	5,753,215
				23,769,671
Insurance — 4.3%
Aflac, Inc.		13,195		1,024,988
The Allstate Corp.		12,086		1,068,886
American International Group, Inc.		29,241		1,828,147
Aon PLC		8,719		1,159,191
Arthur J Gallagher & Co.		5,983		342,527
Assurant, Inc.		1,812		187,886
Berkshire Hathaway, Inc. Class B (a)		63,146		10,695,038
Chubb Ltd.		15,495		2,252,663
Cincinnati Financial Corp.		5,016		363,409
Everest Re Group Ltd.		1,368		348,279
The Hartford Financial Services Group, Inc.		12,217		642,248
Lincoln National Corp.		7,427		501,917
Loews Corp.		9,160		428,780
Marsh & McLennan Cos., Inc.		17,090		1,332,336
MetLife, Inc.		35,934		1,974,214
Principal Financial Group, Inc.		8,863		567,852
The Progressive Corp.		19,221		847,454
Prudential Financial, Inc.		14,247		1,540,670
Torchmark Corp.		3,647		278,995
The Travelers Cos., Inc.		9,288		1,175,211
Unum Group		7,548		351,963
Willis Towers Watson PLC		4,256		619,078
XL Group Ltd.		8,736		382,637
				29,914,369
Real Estate — 0.1%
CBRE Group, Inc. Class A (a)		9,937		361,707
Real Estate Investment Trusts (REITS) — 2.9%
Alexandria Real Estate Equities, Inc.		3,055		368,036
American Tower Corp.		14,135		1,870,343
Apartment Investment & Management Co. Class A		5,197		223,315
AvalonBay Communities, Inc.		4,601		884,174
Boston Properties, Inc.		5,095		626,787
Crown Castle International Corp.		12,176		1,219,792
Digital Realty Trust, Inc.		5,267		594,908
Equinix, Inc.		2,583		1,108,520
Equity Residential		12,272		807,866
Essex Property Trust, Inc.		2,170		558,276
Extra Space Storage, Inc.		4,237		330,486
Federal Realty Investment Trust		2,416		305,358
GGP, Inc.		19,336		455,556
HCP, Inc.		15,482		494,805
Host Hotels & Resorts, Inc.		24,514		447,871
Iron Mountain, Inc.		8,300		285,188
Kimco Realty Corp.		14,288		262,185
The Macerich Co.		3,989		231,601
Mid-America Apartment Communities, Inc.		3,787		399,074

	Number of Shares		Value
Prologis, Inc.		17,548	$	1,029,015
Public Storage		4,989		1,040,356
Realty Income Corp.		9,056		499,710
Regency Centers Corp.		4,851		303,867
Simon Property Group, Inc.		10,383		1,679,554
SL Green Realty Corp.		3,385		358,133
UDR, Inc.		8,837		344,378
Ventas, Inc.		11,732		815,139
Vornado Realty Trust		5,701		535,324
Welltower, Inc.		12,187		912,197
Weyerhaeuser Co.		25,089		840,481
				19,832,295
Savings & Loans — 0.0%
People’s United Financial, Inc.		11,419		201,660
				128,368,324
Industrial — 10.0%
Aerospace & Defense — 2.3%
Arconic, Inc.		14,568		329,965
The Boeing Co.		18,668		3,691,597
General Dynamics Corp.		9,437		1,869,470
Harris Corp.		4,019		438,392
L3 Technologies, Inc.		2,561		427,892
Lockheed Martin Corp.		8,262		2,293,614
Northrop Grumman Corp.		5,800		1,488,918
Raytheon Co.		9,669		1,561,350
Rockwell Collins, Inc.		5,395		566,907
TransDigm Group, Inc.		1,627		437,451
United Technologies Corp.		24,791		3,027,229
				16,132,785
Building Materials — 0.5%
Fortune Brands Home & Security, Inc.		5,051		329,527
Johnson Controls International PLC		31,285		1,356,518
Martin Marietta Materials, Inc.		2,101		467,641
Masco Corp.		10,671		407,739
Vulcan Materials Co.		4,377		554,478
				3,115,903
Electrical Components & Equipment — 0.3%
Acuity Brands, Inc.		1,488		302,481
AMETEK, Inc.		7,679		465,117
Emerson Electric Co.		21,476		1,280,399
				2,047,997
Electronics — 1.3%
Agilent Technologies, Inc.		10,739		636,930
Allegion PLC		3,172		257,313
Amphenol Corp. Class A		10,219		754,367
Corning, Inc.		30,530		917,426
FLIR Systems, Inc.		4,646		161,030
Fortive Corp.		9,968		631,473
Garmin Ltd.		3,849		196,414
Honeywell International, Inc.		25,341		3,377,702

The accompanying notes are an integral part of the financial statements.

32

MML Equity Index Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Mettler-Toledo International, Inc. (a)		854	$	502,613
PerkinElmer, Inc.		3,654		248,984
TE Connectivity Ltd.		11,772		926,221
Waters Corp. (a)		2,674		491,588
				9,102,061
Engineering & Construction — 0.1%
Fluor Corp.		4,573		209,352
Jacobs Engineering Group, Inc.		4,030		219,192
				428,544
Environmental Controls — 0.2%
Republic Services, Inc.		7,637		486,706
Stericycle, Inc. (a)		2,839		216,672
Waste Management, Inc.		13,471		988,098
				1,691,476
Hand & Machine Tools — 0.1%
Snap-on, Inc.		1,951		308,258
Stanley Black & Decker, Inc.		5,067		713,079
				1,021,337
Machinery – Construction & Mining — 0.3%
Caterpillar, Inc.		19,603		2,106,538
Machinery – Diversified — 0.6%
Cummins, Inc.		5,111		829,106
Deere & Co.		9,820		1,213,654
Flowserve Corp.		4,341		201,553
Rockwell Automation, Inc.		4,251		688,492
Roper Technologies, Inc.		3,405		788,360
Xylem, Inc.		5,927		328,533
				4,049,698
Miscellaneous – Manufacturing — 2.5%
3M Co.		19,856		4,133,821
Dover Corp.		5,164		414,256
Eaton Corp. PLC		14,838		1,154,841
General Electric Co.		289,481		7,818,882
Illinois Tool Works, Inc.		10,353		1,483,067
Ingersoll-Rand PLC		8,524		779,008
Parker-Hannifin Corp.		4,419		706,245
Pentair PLC		5,618		373,822
Textron, Inc.		8,969		422,440
				17,286,382
Packaging & Containers — 0.2%
Ball Corp.		11,594		489,383
Sealed Air Corp.		6,541		292,775
WestRock Co.		8,322		471,525
				1,253,683
Transportation — 1.6%
C.H. Robinson Worldwide, Inc.		4,721		324,238
CSX Corp.		30,610		1,670,082
Expeditors International of Washington, Inc.		6,053		341,873

	Number of Shares		Value
FedEx Corp.		8,196	$	1,781,237
J.B. Hunt Transport Services, Inc.		2,892		264,271
Kansas City Southern		3,513		367,635
Norfolk Southern Corp.		9,590		1,167,103
Union Pacific Corp.		26,856		2,924,887
United Parcel Service, Inc. Class B		22,844		2,526,318
				11,367,644
				69,604,048
Technology — 14.0%
Computers — 5.4%
Accenture PLC Class A		20,604		2,548,303
Apple, Inc.		173,306		24,959,530
Cognizant Technology Solutions Corp. Class A		19,570		1,299,448
CSRA, Inc.		4,985		158,274
DXC Technology Co.		9,438		724,083
Hewlett Packard Enterprise Co.		55,195		915,685
HP, Inc.		56,113		980,855
International Business Machines Corp.		28,414		4,370,926
NetApp, Inc.		8,944		358,207
Seagate Technology PLC		9,758		378,122
Western Digital Corp.		9,703		859,686
				37,553,119
Office & Business Equipment — 0.0%
Xerox Corp.		7,105		204,127
Semiconductors — 3.4%
Advanced Micro Devices, Inc. (a)		25,659		320,224
Analog Devices, Inc.		12,193		948,615
Applied Materials, Inc.		35,839		1,480,509
Broadcom Ltd.		13,338		3,108,421
Intel Corp.		156,489		5,279,939
KLA-Tencor Corp.		5,180		474,022
Lam Research Corp.		5,395		763,015
Microchip Technology, Inc.		7,626		588,575
Micron Technology, Inc. (a)		34,603		1,033,246
NVIDIA Corp.		19,776		2,858,818
Qorvo, Inc. (a)		4,230		267,844
QUALCOMM, Inc.		49,126		2,712,738
Skyworks Solutions, Inc.		6,158		590,860
Texas Instruments, Inc.		33,093		2,545,844
Xilinx, Inc.		8,212		528,196
				23,500,866
Software — 5.2%
Activision Blizzard, Inc.		22,995		1,323,822
Adobe Systems, Inc. (a)		16,408		2,320,748
Akamai Technologies, Inc. (a)		5,795		288,649
ANSYS, Inc. (a)		2,838		345,328
Autodesk, Inc. (a)		6,488		654,120
CA, Inc.		10,524		362,762
Cerner Corp. (a)		9,737		647,218

The accompanying notes are an integral part of the financial statements.

33

MML Equity Index Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Citrix Systems, Inc. (a)		5,021	$	399,571
Electronic Arts, Inc. (a)		10,334		1,092,510
Fidelity National Information Services, Inc.		10,995		938,973
Fiserv, Inc. (a)		7,099		868,492
Intuit, Inc.		8,081		1,073,238
Microsoft Corp.		256,607		17,687,921
Oracle Corp.		99,863		5,007,131
Paychex, Inc.		10,664		607,208
Red Hat, Inc. (a)		5,948		569,521
salesforce.com, Inc. (a)		22,216		1,923,906
Synopsys, Inc. (a)		5,009		365,306
				36,476,424
				97,734,536
Utilities — 3.1%
Electric — 2.9%
The AES Corp.		21,633		240,343
Alliant Energy Corp.		7,452		299,347
Ameren Corp.		8,047		439,929
American Electric Power Co., Inc.		16,304		1,132,639
CenterPoint Energy, Inc.		14,361		393,204
CMS Energy Corp.		9,278		429,107
Consolidated Edison, Inc.		10,097		816,039
Dominion Energy, Inc.		20,916		1,602,793
DTE Energy Co.		5,957		630,191
Duke Energy Corp.		23,315		1,948,901
Edison International		10,810		845,234
Entergy Corp.		5,926		454,939
Eversource Energy		10,505		637,759
Exelon Corp.		30,882		1,113,914
FirstEnergy Corp.		14,753		430,197
NextEra Energy, Inc.		15,574		2,182,385
NRG Energy, Inc.		10,671		183,755
PG&E Corp.		17,041		1,131,011
Pinnacle West Capital Corp.		3,749		319,265
PPL Corp.		22,875		884,347
Public Service Enterprise Group, Inc.		16,764		721,020
SCANA Corp.		4,728		316,823
The Southern Co.		33,016		1,580,806
WEC Energy Group, Inc.		10,460		642,035
Xcel Energy, Inc.		16,856		773,353
				20,149,336
Gas — 0.1%
NiSource, Inc.		10,648		270,033
Sempra Energy		8,382		945,071
				1,215,104

	Number of Shares		Value
Water — 0.1%
American Water Works Co., Inc.		5,892	$	459,282
				21,823,722
TOTAL COMMON STOCK (Cost $435,386,020)				690,404,828
TOTAL EQUITIES (Cost $435,386,020)				690,404,828
TOTAL LONG-TERM INVESTMENTS (Cost $435,386,020)				690,404,828
	Principal Amount
SHORT-TERM INVESTMENTS — 0.8%
Repurchase Agreement — 0.6%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	4,406,159		4,406,159
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		4,161		4,161
U.S. Treasury Bill — 0.2%
U.S. Treasury Bill (c) 0.000% 8/17/17		1,255,000		1,253,582
TOTAL SHORT-TERM INVESTMENTS (Cost $5,664,120)				5,663,902
TOTAL INVESTMENTS — 100.0% (Cost $441,050,140) (d)				696,068,730
Other Assets/(Liabilities) — 0.0%				43,894
NET ASSETS — 100.0%			$	696,112,624

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Maturity value of $4,406,177. Collateralized by U.S. Government Agency obligations with a rate of 2.125%, maturity date of 9/30/21, and an aggregate market value, including accrued interest, of $4,499,007.

(c) A portion of this security is pledged/held as collateral for open futures contracts. (Note 2).

(d) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

34

MML Focused Equity Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.7%
COMMON STOCK — 97.7%
Basic Materials — 2.0%
Chemicals — 2.0%
Praxair, Inc.		10,706	$	1,419,080
Consumer, Cyclical — 19.4%
Apparel — 5.4%
NIKE, Inc. Class B		63,882		3,769,038
Retail — 14.0%
Costco Wholesale Corp.		22,123		3,538,131
Lowe’s Cos., Inc.		22,709		1,760,629
McDonald’s Corp.		13,784		2,111,158
The TJX Cos., Inc.		34,220		2,469,657
				9,879,575
				13,648,613
Consumer, Non-cyclical — 28.1%
Beverages — 3.0%
The Coca-Cola Co.		46,892		2,103,106
Commercial Services — 2.2%
Automatic Data Processing, Inc.		15,460		1,584,032
Cosmetics & Personal Care — 3.5%
Colgate-Palmolive Co.		33,116		2,454,889
Health Care – Products — 4.2%
Medtronic PLC		33,675		2,988,656
Health Care – Services — 2.5%
UnitedHealth Group, Inc.		9,484		1,758,523
Pharmaceuticals — 12.7%
Bristol-Myers Squibb Co.		59,793		3,331,666
Cardinal Health, Inc.		27,030		2,106,178
McKesson Corp.		12,810		2,107,757
Merck & Co., Inc.		21,941		1,406,199
				8,951,800
				19,841,006
Financial — 27.2%
Banks — 4.7%
The PNC Financial Services Group, Inc.		26,789		3,345,143
Diversified Financial Services — 10.7%
American Express Co.		35,612		2,999,955
BlackRock, Inc.		5,403		2,282,281
Visa, Inc. Class A		24,281		2,277,072
				7,559,308
Insurance — 7.5%
Chubb Ltd.		21,850		3,176,553
Marsh & McLennan Cos., Inc.		27,218		2,121,915
				5,298,468

	Number of Shares		Value
Real Estate Investment Trusts (REITS) — 4.3%
Public Storage		14,386	$	2,999,913
				19,202,832
Industrial — 13.0%
Aerospace & Defense — 2.5%
Lockheed Martin Corp.		6,352		1,763,379
Transportation — 10.5%
Canadian National Railway Co.		28,355		2,300,673
Union Pacific Corp.		21,135		2,301,813
United Parcel Service, Inc. Class B		25,611		2,832,320
				7,434,806
				9,198,185
Technology — 8.0%
Computers — 3.0%
Accenture PLC Class A		17,047		2,108,373
Software — 5.0%
Microsoft Corp.		51,026		3,517,222
				5,625,595
TOTAL COMMON STOCK (Cost $66,774,932)				68,935,311
TOTAL EQUITIES (Cost $66,774,932)				68,935,311
TOTAL LONG-TERM INVESTMENTS (Cost $66,774,932)				68,935,311
	Principal Amount
SHORT-TERM INVESTMENTS — 1.0%
Repurchase Agreement — 1.0%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (a)	$	690,835		690,835
TOTAL SHORT-TERM INVESTMENTS (Cost $690,835)				690,835
TOTAL INVESTMENTS — 98.7% (Cost $67,465,767) (b)				69,626,146
Other Assets/(Liabilities) — 1.3%				941,481
NET ASSETS — 100.0%			$	70,567,627

The accompanying notes are an integral part of the financial statements.

35

MML Focused Equity Fund – Portfolio of Investments (Continued)

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Maturity value of $690,837. Collateralized by U.S. Government Agency obligations with a rate of 1.625%, maturity date of 6/30/19, and an aggregate market value, including accrued interest, of $708,388.

(b) See Note 6 for aggregate cost for federal tax purposes.

Country weightings, as a percentage of net assets, is as follows:

United States	82.7	%
Ireland	7.2	%
Switzerland	4.5	%
Canada	3.3	%
Total Long-Term Investments	97.7	%
Short-Term Investments and Other Assets and Liabilities	2.3	%
Net Assets	100.0	%

The accompanying notes are an integral part of the financial statements.

36

MML Foreign Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.7%
COMMON STOCK — 97.7%
Bermuda — 0.4%
Kunlun Energy Co. Ltd		1,700,000	$	1,443,411
Brazil — 0.4%
Embraer SA Sponsored ADR		84,639		1,542,969
Canada — 2.2%
Alamos Gold, Inc. Class A		306,210		2,198,588
Husky Energy, Inc. (a)		247,700		2,811,647
Tahoe Resources, Inc.		206,800		1,782,868
Wheaton Precious Metals Corp.		96,200		1,910,944
				8,704,047
Cayman Islands — 3.0%
Baidu, Inc. Sponsored ADR (a)		20,070		3,589,720
Cheung Kong Property Holdings Ltd.		367,254		2,876,735
CK Hutchison Holdings Ltd.		395,754		4,968,826
				11,435,281
China — 3.0%
China Life Insurance Co. Ltd. Class H		1,251,000		3,826,663
China Telecom Corp. Ltd. Class H		11,037,643		5,245,124
Sinopharm Group Co. Ltd. Class H		568,800		2,578,824
				11,650,611
France — 10.7%
AXA SA		216,747		5,973,375
BNP Paribas SA		114,450		8,324,164
Cie de Saint-Gobain		96,920		5,184,740
Cie Generale des Etablissements Michelin		33,060		4,395,281
Credit Agricole SA		208,930		3,397,048
Sanofi		76,358		7,338,925
Total SA		95,472		4,730,305
Zodiac Aerospace		73,100		1,987,796
				41,331,634
Germany — 12.3%
Bayer AG Registered		55,810		7,220,924
Deutsche Boerse AG		20,980		2,218,662
Deutsche Lufthansa AG Registered		128,000		2,922,869
HeidelbergCement AG		40,200		3,889,943
Infineon Technologies AG		273,297		5,791,588
Innogy SE (b)		107,200		4,219,081
LANXESS AG		74,400		5,634,519
Merck KGaA		50,900		6,161,887
MorphoSys AG (a) (c)		20,350		1,443,506
SAP SE Sponsored ADR		29,468		3,084,416

	Number of Shares		Value
Siemens AG		37,896	$	5,210,592
				47,797,987
Hong Kong — 2.0%
AIA Group Ltd.		485,200		3,546,395
China Mobile Ltd.		382,500		4,051,292
				7,597,687
Ireland — 1.2%
CRH PLC		131,362		4,660,837
Israel — 1.5%
Teva Pharmaceutical Industries Ltd. Sponsored ADR		171,799		5,707,163
Italy — 1.4%
Eni SpA		371,293		5,603,169
Japan — 10.8%
IHI Corp. (a)		887,000		3,027,725
Inpex Corp.		304,100		2,932,793
Konica Minolta, Inc.		446,100		3,713,187
Nissan Motor Co. Ltd.		407,570		4,063,285
Omron Corp.		104,800		4,559,195
Panasonic Corp.		380,000		5,168,644
SoftBank Group Corp.		83,700		6,800,170
Sumitomo Metal Mining Co. Ltd.		272,000		3,641,277
Sumitomo Rubber Industries Ltd. (c)		121,700		2,058,154
Suntory Beverage & Food Ltd.		129,100		6,005,867
				41,970,297
Luxembourg — 0.5%
SES SA		83,560		1,959,461
Netherlands — 5.0%
Akzo Nobel NV		55,600		4,826,687
ING Groep NV		378,890		6,589,630
NN Group NV		63,590		2,264,068
QIAGEN NV (a)		81,562		2,715,809
SBM Offshore NV		191,128		3,068,057
				19,464,251
Norway — 1.8%
Telenor ASA		316,016		5,241,103
Yara International ASA		47,510		1,785,723
				7,026,826
Portugal — 1.0%
Galp Energia SGPS SA		242,320		3,680,643
Republic of Korea — 6.1%
Hana Financial Group, Inc.		79,353		3,148,815
Hyundai Mobis Co. Ltd.		18,195		3,974,780

The accompanying notes are an integral part of the financial statements.

37

MML Foreign Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
KB Financial Group, Inc. Sponsored ADR		80,916	$	4,085,449
Samsung Electronics Co. Ltd.		6,018		12,486,041
				23,695,085
Singapore — 3.7%
DBS Group Holdings, Ltd.		385,379		5,806,073
Singapore Telecommunications Ltd.		340,700		962,685
Singapore Telecommunications Ltd.		1,468,000		4,147,976
United Overseas Bank Ltd.		201,500		3,385,401
				14,302,135
Spain — 1.2%
Telefonica SA Sponsored ADR (c)		432,139		4,489,924
Sweden — 0.7%
Getinge AB Class B		128,140		2,514,262
Switzerland — 6.0%
ABB Ltd. Registered		99,000		2,449,278
Novartis AG Registered		54,480		4,549,568
Roche Holding AG		31,790		8,117,134
Swiss Re AG		32,624		2,988,727
UBS Group AG Registered		306,210		5,198,114
				23,302,821
Taiwan — 1.1%
Taiwan Semiconductor Manufacturing Co. Ltd.		641,275		4,376,022
Thailand — 1.2%
Bangkok Bank PCL Foreign Registered		792,100		4,595,747
United Kingdom — 20.5%
Aviva PLC		657,655		4,509,997
BAE Systems PLC		633,010		5,230,534
Barclays PLC		1,857,820		4,916,376
BP PLC		1,648,784		9,525,119
Cobham PLC		1,480,190		2,503,892
GlaxoSmithKline PLC		251,884		5,365,415
HSBC Holdings PLC		781,600		7,274,869
Johnson Matthey PLC		96,470		3,608,514
Kingfisher PLC		889,844		3,485,086
LivaNova PLC (a)		67,930		4,157,995
Rolls-Royce Holdings PLC		187,570		2,179,854
Royal Dutch Shell PLC Class A		2,397		63,672
Royal Dutch Shell PLC Class B		351,154		9,431,737
Sky PLC		398,860		5,163,822
Standard Chartered PLC (a)		594,672		6,031,966

	Number of Shares		Value
Vodafone Group PLC Sponsored ADR		207,868	$	5,972,048
				79,420,896
TOTAL COMMON STOCK (Cost $335,018,416)				378,273,166
TOTAL EQUITIES (Cost $335,018,416)				378,273,166
MUTUAL FUNDS — 1.0%
United States — 1.0%
State Street Navigator Securities Lending Prime Portfolio (d)		3,983,411		3,983,411
TOTAL MUTUAL FUNDS (Cost $3,983,411)				3,983,411
TOTAL LONG-TERM INVESTMENTS (Cost $339,001,827)				382,256,577
	Principal Amount
SHORT-TERM INVESTMENTS — 2.9%
Repurchase Agreement — 2.9%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (e)	$	11,135,466		11,135,466
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		69,260		69,260
TOTAL SHORT-TERM INVESTMENTS (Cost $11,204,726)				11,204,726
TOTAL INVESTMENTS — 101.6% (Cost $350,206,553) (f)				393,461,303
Other Assets/(Liabilities) — (1.6)%				(6,049,682	)
NET ASSETS — 100.0%			$	387,411,621

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Securities exempt from registration under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2017, these securities amounted to a value of $4,219,081 or 1.09% of net assets.

The accompanying notes are an integral part of the financial statements.

38

MML Foreign Fund – Portfolio of Investments (Continued)

Notes to Portfolio of Investments (Continued)

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2017, was $3,799,150 or 0.98% of net assets. Total securities on loan may not correspond with the amounts identified in the Portfolio of Investments because pending sales may be in the process of recall from the brokers. (Note 2).

(d) Represents investment of security lending collateral. (Note 2).

(e) Maturity value of $11,135,512. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $11,362,248.

(f) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

39

MML Fundamental Growth Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 100.0%
COMMON STOCK — 100.0%
Basic Materials — 1.6%
Iron & Steel — 0.5%
Cliffs Natural Resources, Inc. (a)		51,018	$	353,044
Nucor Corp.		5,510		318,864
				671,908
Mining — 1.1%
Rio Tinto PLC Sponsored ADR		38,725		1,638,455
				2,310,363
Communications — 20.5%
Internet — 17.1%
Alibaba Group Holding Ltd. Sponsored ADR (a)		10,777		1,518,479
Alphabet, Inc. Class C (a)		9,016		8,193,110
Amazon.com, Inc. (a)		1,974		1,910,832
eBay, Inc. (a)		52,803		1,843,881
F5 Networks, Inc. (a)		6,854		870,869
Facebook, Inc. Class A (a)		33,672		5,083,799
Netflix, Inc. (a)		1,491		222,770
The Priceline Group, Inc. (a)		1,385		2,590,670
VeriSign, Inc. (a)		14,597		1,356,937
Yandex NV Class A (a)		27,905		732,227
				24,323,574
Media — 3.4%
Comcast Corp. Class A		62,669		2,439,078
Discovery Communications, Inc. Class A (a)		22,614		584,120
FactSet Research Systems, Inc.		1,952		324,383
Scripps Networks Interactive, Inc. Class A		14,025		958,048
Viacom, Inc. Class B		15,864		532,554
				4,838,183
				29,161,757
Consumer, Cyclical — 4.3%
Lodging — 0.9%
Las Vegas Sands Corp.		20,382		1,302,206
Retail — 3.4%
The Home Depot, Inc.		18,867		2,894,198
Ross Stores, Inc.		11,646		672,324
The TJX Cos., Inc.		17,521		1,264,490
				4,831,012
				6,133,218

	Number of Shares		Value
Consumer, Non-cyclical — 23.9%
Beverages — 2.0%
PepsiCo, Inc.		24,947	$	2,881,129
Biotechnology — 4.3%
Amgen, Inc.		13,828		2,381,596
Celgene Corp. (a)		16,582		2,153,504
Gilead Sciences, Inc.		21,988		1,556,311
				6,091,411
Commercial Services — 5.7%
Experian PLC		34,894		716,576
Gartner, Inc. (a)		9,940		1,227,689
Global Payments, Inc.		10,509		949,173
IHS Markit Ltd. (a)		34,864		1,535,411
PayPal Holdings, Inc. (a)		40,215		2,158,339
Vantiv, Inc. Class A (a)		23,875		1,512,243
				8,099,431
Health Care – Products — 1.4%
Danaher Corp.		11,219		946,771
Edwards Lifesciences Corp. (a)		8,403		993,571
				1,940,342
Health Care – Services — 4.6%
Aetna, Inc.		13,014		1,975,916
Anthem, Inc.		7,365		1,385,578
HCA Healthcare, Inc. (a)		17,630		1,537,336
ICON PLC (a)		8,480		829,259
Universal Health Services, Inc. Class B		7,341		896,189
				6,624,278
Pharmaceuticals — 5.9%
Allergan PLC		7,579		1,842,379
Bristol-Myers Squibb Co.		32,194		1,793,850
Cardinal Health, Inc.		15,287		1,191,163
Johnson & Johnson		15,094		1,996,785
McKesson Corp.		2,585		425,336
Merck & Co., Inc.		18,827		1,206,622
				8,456,135
				34,092,726
Energy — 3.1%
Oil & Gas — 1.9%
BP PLC Sponsored ADR		24,101		835,099
Chevron Corp.		8,313		867,295
Pioneer Natural Resources Co.		6,777		1,081,474
				2,783,868
Oil & Gas Services — 1.2%
Baker Hughes, Inc.		21,156		1,153,214

The accompanying notes are an integral part of the financial statements.

40

MML Fundamental Growth Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Schlumberger Ltd.		8,335	$	548,776
				1,701,990
				4,485,858
Financial — 12.9%
Banks — 3.1%
Bank of America Corp.		67,092		1,627,652
Citigroup, Inc.		23,298		1,558,170
JP Morgan Chase & Co.		13,710		1,253,094
				4,438,916
Diversified Financial Services — 7.3%
Alliance Data Systems Corp.		5,390		1,383,559
American Express Co.		20,042		1,688,338
Intercontinental Exchange, Inc.		23,653		1,559,206
Mastercard, Inc. Class A		21,002		2,550,693
Visa, Inc. Class A		34,097		3,197,616
				10,379,412
Insurance — 1.7%
American International Group, Inc.		21,482		1,343,055
MetLife, Inc.		19,267		1,058,529
				2,401,584
Real Estate Investment Trusts (REITS) — 0.8%
American Tower Corp.		9,293		1,229,650
				18,449,562
Industrial — 6.6%
Electrical Components & Equipment — 0.7%
Emerson Electric Co.		15,837		944,202
Electronics — 1.4%
Fortive Corp.		12,910		817,848
Honeywell International, Inc.		9,447		1,259,191
				2,077,039
Machinery – Construction & Mining — 0.9%
Caterpillar, Inc.		11,712		1,258,572
Machinery – Diversified — 1.9%
Cummins, Inc.		7,843		1,272,291
Rockwell Automation, Inc.		8,575		1,388,807
				2,661,098
Miscellaneous – Manufacturing — 1.7%
Dover Corp.		13,538		1,086,019
Parker-Hannifin Corp.		8,882		1,419,521
				2,505,540
				9,446,451

	Number of Shares		Value
Technology — 27.1%
Computers — 9.5%
Amdocs Ltd.		8,980	$	578,851
Apple, Inc.		70,612		10,169,540
Check Point Software Technologies Ltd. (a)		18,601		2,028,997
NetApp, Inc.		20,861		835,483
				13,612,871
Semiconductors — 6.4%
Analog Devices, Inc.		11,208		871,982
Applied Materials, Inc.		28,749		1,187,621
Cirrus Logic, Inc. (a)		7,252		454,846
Maxim Integrated Products, Inc.		34,048		1,528,755
QUALCOMM, Inc.		34,630		1,912,269
Texas Instruments, Inc.		28,007		2,154,579
Xilinx, Inc.		15,254		981,137
				9,091,189
Software — 11.2%
Electronic Arts, Inc. (a)		13,058		1,380,492
Fiserv, Inc. (a)		6,729		823,226
Intuit, Inc.		5,008		665,113
Jack Henry & Associates, Inc.		5,143		534,203
Microsoft Corp.		114,119		7,866,223
Oracle Corp.		72,107		3,615,445
Paychex, Inc.		3,260		185,624
SS&C Technologies Holdings, Inc		21,691		833,151
				15,903,477
				38,607,537
TOTAL COMMON STOCK (Cost $117,006,946)				142,687,472
TOTAL EQUITIES (Cost $117,006,946)				142,687,472
TOTAL LONG-TERM INVESTMENTS (Cost $117,006,946)				142,687,472
TOTAL INVESTMENTS — 100.0% (Cost $117,006,946) (b)				142,687,472
Other Assets/(Liabilities) — (0.0)%				(68,023	)
NET ASSETS — 100.0%			$	142,619,449

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

41

MML Fundamental Value Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.2%
COMMON STOCK — 98.2%
Basic Materials — 2.6%
Chemicals — 1.4%
The Dow Chemical Co.		49,570	$	3,126,381
Forest Products & Paper — 1.2%
International Paper Co.		49,000		2,773,890
				5,900,271
Communications — 9.4%
Internet — 1.0%
eBay, Inc. (a)		66,660		2,327,766
Media — 3.7%
CBS Corp. Class B		33,520		2,137,906
Comcast Corp. Class A		63,470		2,470,252
Thomson Reuters Corp.		48,170		2,229,789
Viacom, Inc. Class B		50,710		1,702,335
				8,540,282
Telecommunications — 4.7%
Cisco Systems, Inc.		196,450		6,148,885
Nokia OYJ Sponsored ADR		315,050		1,940,708
Verizon Communications, Inc.		56,620		2,528,649
				10,618,242
				21,486,290
Consumer, Cyclical — 7.0%
Home Builders — 1.1%
PulteGroup, Inc.		102,350		2,510,646
Leisure Time — 1.1%
Norwegian Cruise Line Holdings Ltd. (a)		44,890		2,437,078
Lodging — 1.2%
Hilton Worldwide Holdings, Inc.		42,940		2,655,839
Retail — 3.6%
The Home Depot, Inc.		13,540		2,077,036
L Brands, Inc.		27,810		1,498,681
Liberty Interactive Corp. QVC Group Class A (a)		106,300		2,608,602
Lowe’s Cos., Inc.		14,760		1,144,343
Signet Jewelers Ltd.		15,690		992,235
				8,320,897
				15,924,460
Consumer, Non-cyclical — 17.6%
Agriculture — 3.1%
British American Tobacco PLC		45,165		3,074,930
Philip Morris International, Inc.		33,210		3,900,514
				6,975,444

	Number of Shares		Value
Biotechnology — 1.0%
Amgen, Inc.		13,480	$	2,321,660
Commercial Services — 0.7%
Nielsen Holdings PLC		41,960		1,622,174
Cosmetics & Personal Care — 0.8%
Unilever NV NY Shares		32,550		1,799,038
Foods — 1.7%
The Kraft Heinz Co.		20,096		1,721,021
Mondelez International, Inc. Class A		50,420		2,177,640
				3,898,661
Health Care – Products — 1.6%
Medtronic PLC		41,869		3,715,874
Health Care – Services — 1.5%
UnitedHealth Group, Inc.		18,680		3,463,646
Pharmaceuticals — 7.2%
Allergan PLC		10,900		2,649,681
AstraZeneca PLC Sponsored ADR		71,690		2,443,912
Bristol-Myers Squibb Co.		53,590		2,986,035
Merck & Co., Inc.		85,130		5,455,982
Roche Holding AG		11,804		3,013,987
				16,549,597
				40,346,094
Energy — 9.3%
Oil & Gas — 8.1%
Anadarko Petroleum Corp.		19,050		863,727
Canadian Natural Resources Ltd.		49,450		1,426,138
Chevron Corp.		45,640		4,761,621
EOG Resources, Inc.		33,130		2,998,928
Exxon Mobil Corp.		36,600		2,954,718
Marathon Oil Corp.		149,824		1,775,414
Occidental Petroleum Corp.		19,750		1,182,433
Pioneer Natural Resources Co.		12,850		2,050,603
Southwestern Energy Co. (a)		91,620		557,050
				18,570,632
Oil & Gas Services — 1.2%
Halliburton Co.		61,730		2,636,488
				21,207,120
Financial — 28.9%
Banks — 17.7%
Bank of America Corp.		157,450		3,819,737
Citigroup, Inc.		94,030		6,288,726
The Goldman Sachs Group, Inc.		12,010		2,665,019
JP Morgan Chase & Co.		115,870		10,590,518
M&T Bank Corp.		18,940		3,067,333
The PNC Financial Services Group, Inc.		47,240		5,898,859

The accompanying notes are an integral part of the financial statements.

42

MML Fundamental Value Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Wells Fargo & Co.		146,170	$	8,099,280
				40,429,472
Diversified Financial Services — 3.7%
BlackRock, Inc.		7,790		3,290,574
Invesco Ltd.		82,470		2,902,119
Nasdaq, Inc.		33,300		2,380,617
				8,573,310
Insurance — 6.5%
American International Group, Inc.		35,150		2,197,578
Chubb Ltd.		27,215		3,956,517
Marsh & McLennan Cos., Inc.		37,430		2,918,043
MetLife, Inc.		49,260		2,706,344
Principal Financial Group, Inc.		30,530		1,956,057
Unum Group		22,420		1,045,445
				14,779,984
Real Estate Investment Trusts (REITS) — 1.0%
Park Hotels & Resorts, Inc.		87,750		2,365,740
				66,148,506
Industrial — 11.7%
Aerospace & Defense — 1.9%
Triumph Group, Inc.		33,810		1,068,396
United Technologies Corp.		28,050		3,425,186
				4,493,582
Building Materials — 1.1%
Fortune Brands Home & Security, Inc.		39,040		2,546,970
Machinery – Construction & Mining — 1.0%
Caterpillar, Inc.		20,690		2,223,347
Miscellaneous – Manufacturing — 5.9%
3M Co.		13,810		2,875,104
Eaton Corp. PLC		49,190		3,828,457
General Electric Co.		114,670		3,097,237
Ingersoll-Rand PLC		39,730		3,630,925
				13,431,723
Transportation — 1.8%
Schneider National, Inc. Class B		55,100		1,232,587
Union Pacific Corp.		26,000		2,831,660
				4,064,247
				26,759,869
Technology — 8.2%
Computers — 2.0%
Apple, Inc.		12,490		1,798,810
Cognizant Technology Solutions Corp. Class A		42,310		2,809,384
				4,608,194

	Number of Shares		Value
Semiconductors — 5.1%
Analog Devices, Inc.		17,240	$	1,341,272
Intel Corp.		123,480		4,166,215
Maxim Integrated Products, Inc.		70,130		3,148,837
QUALCOMM, Inc.		53,430		2,950,405
				11,606,729
Software — 1.1%
Microsoft Corp.		37,090		2,556,613
				18,771,536
Utilities — 3.5%
Electric — 3.5%
Dominion Resources, Inc.		18,470		1,415,356
Edison International		27,230		2,129,114
Eversource Energy		46,730		2,836,978
NextEra Energy, Inc.		10,900		1,527,417
				7,908,865
TOTAL COMMON STOCK (Cost $174,170,236)				224,453,011
TOTAL EQUITIES (Cost $174,170,236)				224,453,011
TOTAL LONG-TERM INVESTMENTS (Cost $174,170,236)				224,453,011
	Principal Amount
SHORT-TERM INVESTMENTS — 1.8%
Repurchase Agreement — 1.8%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	4,133,071		4,133,071
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		15,612		15,612
TOTAL SHORT-TERM INVESTMENTS (Cost $4,148,683)				4,148,683
TOTAL INVESTMENTS — 100.0% (Cost $178,318,919) (c)				228,601,694
Other Assets/(Liabilities) — 0.0%				103,657
NET ASSETS — 100.0%			$	228,705,351

The accompanying notes are an integral part of the financial statements.

43

MML Fundamental Value Fund – Portfolio of Investments (Continued)

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Maturity value of $4,133,088. Collateralized by U.S. Government Agency obligations with a rate of 1.625%, maturity date of 6/30/19, and an aggregate market value, including accrued interest, of $4,220,181.

(c) See Note 6 for aggregate cost for federal tax purposes.

Country weightings, as a percentage of net assets, is as follows:

United States	79.9	%
Ireland	6.1	%
United Kingdom	3.1	%
Switzerland	3.1	%
Bermuda	2.8	%
Canada	1.6	%
Finland	0.8	%
Netherlands	0.8	%
Total Long-Term Investments	98.2	%
Short-Term Investments and Other Assets and Liabilities	1.8	%
Net Assets	100.0	%

The accompanying notes are an integral part of the financial statements.

44

MML Global Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.5%
COMMON STOCK — 99.5%
Austria — 0.4%
Erste Group Bank AG		26,031	$	998,501
Brazil — 0.5%
Ambev SA		220,831		1,220,506
Canada — 1.8%
Canadian National Railway Co.		53,682		4,350,926
Cayman Islands — 0.2%
Sands China Ltd.		103,200		472,578
Czech Republic — 0.1%
Komercni banka as		6,133		246,033
Denmark — 0.8%
Carlsberg A/S Class B		18,304		1,959,448
France — 8.3%
Air Liquide SA		10,503		1,305,236
Danone SA		58,211		4,375,685
Hermes International		964		476,706
Legrand SA		29,674		2,078,371
LVMH Moet Hennessy Louis Vuitton SE		18,214		4,569,199
Pernod Ricard SA		34,273		4,594,549
Schneider Electric SE		36,288		2,793,157
				20,192,903
Germany — 6.7%
Bayer AG Registered		53,580		6,932,397
Brenntag AG		17,012		985,017
Deutsche Boerse AG		14,208		1,502,514
Linde AG		16,545		3,142,659
Merck KGaA		17,538		2,123,127
MTU Aero Engines AG		11,744		1,661,736
				16,347,450
Ireland — 4.8%
Accenture PLC Class A		43,702		5,405,064
Medtronic PLC		69,687		6,184,721
				11,589,785
Israel — 0.9%
Check Point Software Technologies Ltd. (a)		21,018		2,292,643
Japan — 1.4%
Hoya Corp.		29,800		1,552,035
Kubota Corp.		103,200		1,739,089
				3,291,124
Mexico — 0.3%
Grupo Financiero Banorte SAB de CV Class O		134,187		851,388

	Number of Shares		Value
Netherlands — 3.1%
Akzo Nobel NV		37,998	$	3,298,641
Heineken NV		24,651		2,401,470
Schlumberger Ltd.		28,396		1,869,593
				7,569,704
Republic of Korea — 0.9%
Samsung Electronics Co. Ltd.		1,089		2,259,438
Spain — 0.8%
Aena SA (b)		9,568		1,869,532
Sweden — 1.9%
Essity AB Class B (a)		150,092		4,106,521
Svenska Cellulosa AB Class B		60,924		462,219
				4,568,740
Switzerland — 8.8%
Adecco Group AG Registered		23,775		1,810,010
Cie Financiere Richemont SA Registered		29,735		2,453,660
Julius Baer Group Ltd.		25,545		1,346,270
Nestle SA Registered		74,850		6,520,183
Roche Holding AG		15,782		4,029,714
Sonova Holding AG Registered		6,870		1,115,355
Swiss Re AG		6,938		635,599
UBS Group AG Registered		201,138		3,414,449
				21,325,240
Thailand — 0.2%
Kasikornbank PCL		91,700		538,488
United Kingdom — 9.5%
Burberry Group PLC		66,884		1,449,056
Compass Group PLC		127,307		2,688,026
Delphi Automotive PLC		17,401		1,525,198
Diageo PLC		159,042		4,701,500
Reckitt Benckiser Group PLC		52,695		5,346,570
Sky PLC		109,164		1,413,286
Whitbread PLC		27,662		1,429,405
WPP PLC		208,992		4,397,199
				22,950,240
United States — 48.1%
3M Co.		20,250		4,215,848
Abbott Laboratories		59,682		2,901,142
American Express Co.		39,773		3,350,478
Amphenol Corp. Class A		20,470		1,511,095
AutoZone, Inc. (a)		2,090		1,192,261
The Bank of New York Mellon Corp.		79,020		4,031,600
Charter Communications, Inc. Class A (a)		4,777		1,609,132
Cisco Systems, Inc.		50,505		1,580,807
Cognizant Technology Solutions Corp. Class A		26,302		1,746,453
Colgate-Palmolive Co.		39,034		2,893,590

The accompanying notes are an integral part of the financial statements.

45

MML Global Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Comcast Corp. Class A		32,925	$	1,281,441
The Cooper Cos., Inc.		10,826		2,591,961
Coty, Inc. Class A		191,340		3,589,538
DENTSPLY SIRONA, Inc.		15,068		977,009
eBay, Inc. (a)		58,589		2,045,928
Franklin Resources, Inc.		50,684		2,270,136
The Goldman Sachs Group, Inc.		10,784		2,392,970
Harley-Davidson, Inc. (c)		22,366		1,208,211
Honeywell International, Inc.		44,283		5,902,481
Johnson & Johnson		7,788		1,030,275
Kansas City Southern		25,226		2,639,901
Kellogg Co.		37,504		2,605,028
Marriott International, Inc. Class A		9,239		926,764
Microchip Technology, Inc.		13,002		1,003,494
Monsanto Co.		22,543		2,668,190
National Oilwell Varco, Inc.		19,496		642,198
NOW, Inc. (a)		11,399		183,296
Omnicom Group, Inc.		18,749		1,554,292
Oracle Corp.		81,084		4,065,552
PayPal Holdings, Inc. (a)		26,983		1,448,178
Praxair, Inc.		12,737		1,688,289
Sally Beauty Holdings, Inc. (a)		50,000		1,012,500
State Street Corp.		53,831		4,830,256
Stryker Corp.		35,477		4,923,498
Thermo Fisher Scientific, Inc.		41,301		7,205,786
Time Warner, Inc.		47,298		4,749,192
United Parcel Service, Inc. Class B		34,154		3,777,091
United Technologies Corp.		21,757		2,656,747
Urban Outfitters, Inc. (a) (c)		34,808		645,340
Visa, Inc. Class A		55,484		5,203,290
W.W. Grainger, Inc.		4,738		855,351
The Walt Disney Co.		46,178		4,906,413
Waters Corp. (a)		12,481		2,294,507
Wynn Resorts Ltd.		4,168		559,012
Zimmer Biomet Holdings, Inc.		41,066		5,272,874
				116,639,395
TOTAL COMMON STOCK (Cost $192,439,350)				241,534,062
TOTAL EQUITIES (Cost $192,439,350)				241,534,062
MUTUAL FUNDS — 0.8%
United States — 0.8%
State Street Navigator Securities Lending Prime Portfolio (d)		1,772,097		1,772,097
TOTAL MUTUAL FUNDS (Cost $1,772,097)				1,772,097
TOTAL LONG-TERM INVESTMENTS (Cost $194,211,447)				243,306,159

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 0.5%
Repurchase Agreement — 0.5%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (e)	$	1,254,324	$	1,254,324
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		14,892		14,892
TOTAL SHORT-TERM INVESTMENTS (Cost $1,269,216)				1,269,216
TOTAL INVESTMENTS — 100.8% (Cost $195,480,663) (f)				244,575,375
Other Assets/(Liabilities) — (0.8)%				(1,840,105	)
NET ASSETS — 100.0%			$	242,735,270

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Securities exempt from registration under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2017, these securities amounted to a value of $1,869,532 or 0.77% of net assets.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2017, was $1,731,370 or 0.71% of net assets. Total securities on loan may not correspond with the amounts identified in the Portfolio of Investments because pending sales may be in the process of recall from the brokers. (Note 2).

(d) Represents investment of security lending collateral. (Note 2).

(e) Maturity value of $1,254,329. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $1,281,113.

(f) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

46

MML Growth & Income Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.7%
COMMON STOCK — 98.7%
Basic Materials — 4.0%
Chemicals — 4.0%
Monsanto Co.		20,328	$	2,406,022
PPG Industries, Inc.		11,345		1,247,496
The Sherwin-Williams Co.		5,004		1,756,204
				5,409,722
Communications — 12.2%
Advertising — 0.6%
The Interpublic Group of Cos., Inc.		34,570		850,422
Internet — 6.4%
Alphabet, Inc. Class A (a)		4,140		3,848,875
Alphabet, Inc. Class C (a)		3,323		3,019,710
Facebook, Inc. Class A (a)		11,274		1,702,149
				8,570,734
Media — 5.2%
Comcast Corp. Class A		78,326		3,048,448
Time Warner, Inc.		18,315		1,839,009
Twenty-First Century Fox, Inc. Class A		44,528		1,261,923
The Walt Disney Co.		8,535		906,844
				7,056,224
				16,477,380
Consumer, Cyclical — 8.3%
Apparel — 2.3%
LVMH Moet Hennessy Louis Vuitton SE		7,486		1,877,953
NIKE, Inc. Class B		21,163		1,248,617
				3,126,570
Food Services — 0.7%
Aramark		23,045		944,384
Housewares — 2.1%
Newell Brands, Inc.		51,568		2,765,076
Retail — 3.2%
AutoZone, Inc. (a)		860		490,596
Costco Wholesale Corp.		6,961		1,113,273
Ross Stores, Inc.		19,670		1,135,549
Starbucks Corp.		27,405		1,597,985
				4,337,403
				11,173,433
Consumer, Non-cyclical — 24.6%
Beverages — 2.3%
Diageo PLC		38,975		1,152,155

	Number of Shares		Value
Pernod Ricard SA		14,069	$	1,886,053
				3,038,208
Biotechnology — 1.1%
Biogen, Inc. (a)		5,204		1,412,157
Cosmetics & Personal Care — 2.6%
Colgate-Palmolive Co.		23,306		1,727,674
Coty, Inc. Class A		48,474		909,372
The Estee Lauder Cos., Inc. Class A		9,223		885,224
				3,522,270
Foods — 3.1%
Danone SA		24,447		1,837,666
Mondelez International, Inc. Class A		53,660		2,317,575
				4,155,241
Health Care – Products — 8.7%
Abbott Laboratories		31,382		1,525,479
Danaher Corp.		33,150		2,797,528
Medtronic PLC		28,693		2,546,504
Stryker Corp.		7,882		1,093,864
Thermo Fisher Scientific, Inc.		21,863		3,814,438
				11,777,813
Household Products & Wares — 0.5%
Kimberly-Clark Corp.		5,671		732,183
Pharmaceuticals — 6.3%
Allergan PLC		5,125		1,245,836
Eli Lilly & Co.		24,065		1,980,550
Johnson & Johnson		14,604		1,931,963
McKesson Corp.		9,947		1,636,679
Zoetis, Inc.		26,423		1,648,267
				8,443,295
				33,081,167
Energy — 4.4%
Oil & Gas — 1.5%
EOG Resources, Inc.		22,874		2,070,554
Oil & Gas Services — 1.9%
Schlumberger Ltd.		37,907		2,495,797
Pipelines — 1.0%
Enterprise Products Partners LP (b)		48,896		1,324,104
				5,890,455
Financial — 23.2%
Banks — 11.4%
Bank of America Corp.		177,874		4,315,223
The Goldman Sachs Group, Inc.		12,071		2,678,555
JP Morgan Chase & Co.		55,285		5,053,049
Morgan Stanley		38,237		1,703,841
US Bancorp		30,601		1,588,804
				15,339,472

The accompanying notes are an integral part of the financial statements.

47

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

	Number of Shares		Value
Diversified Financial Services — 7.0%
BlackRock, Inc.		2,191	$	925,500
Mastercard, Inc. Class A		22,177		2,693,397
Nasdaq, Inc.		22,745		1,626,040
Visa, Inc. Class A		44,181		4,143,294
				9,388,231
Insurance — 1.2%
Chubb Ltd.		11,676		1,697,457
Private Equity — 0.9%
The Blackstone Group LP (b)		35,947		1,198,832
Real Estate Investment Trusts (REITS) — 2.7%
American Tower Corp.		27,082		3,583,490
				31,207,482
Industrial — 7.8%
Aerospace & Defense — 0.8%
United Technologies Corp.		8,190		1,000,081
Electrical Components & Equipment — 0.8%
AMETEK, Inc.		17,697		1,071,907
Electronics — 1.9%
Honeywell International, Inc.		18,912		2,520,781
Engineering & Construction — 0.5%
Fluor Corp.		15,787		722,729
Packaging & Containers — 1.7%
Crown Holdings, Inc. (a)		39,035		2,328,828
Transportation — 2.1%
Canadian National Railway Co.		35,044		2,840,316
				10,484,642
Technology — 13.7%
Computers — 7.3%
Accenture PLC Class A		22,107		2,734,194
Amdocs Ltd.		5,251		338,479
Apple, Inc.		9,947		1,432,567
Cognizant Technology Solutions Corp. Class A		46,253		3,071,199
DXC Technology Co.		19,406		1,488,828
Hewlett Packard Enterprise Co.		48,696		807,867
				9,873,134
Semiconductors — 3.6%
Broadcom Ltd.		15,008		3,497,615
Texas Instruments, Inc.		18,112		1,393,356
				4,890,971
Software — 2.8%
Adobe Systems, Inc. (a)		7,754		1,096,726
Fidelity National Information Services, Inc.		30,313		2,588,730
				3,685,456
				18,449,561

	Number of Shares		Value
Utilities — 0.5%
Electric — 0.5%
American Electric Power Co., Inc.		10,739	$	746,038
TOTAL COMMON STOCK (Cost $88,558,033)				132,919,880
TOTAL EQUITIES (Cost $88,558,033)				132,919,880
TOTAL LONG-TERM INVESTMENTS (Cost $88,558,033)				132,919,880
	Principal Amount
SHORT-TERM INVESTMENTS — 1.4%
Repurchase Agreement — 1.4%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (c)	$	1,843,582		1,843,582
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		9,449		9,449
TOTAL SHORT-TERM INVESTMENTS (Cost $1,853,031)				1,853,031
TOTAL INVESTMENTS — 100.1% (Cost $90,411,064) (d)				134,772,911
Other Assets/(Liabilities) — (0.1)%				(108,719	)
NET ASSETS — 100.0%			$	134,664,192

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is a Master Limited Partnership.

(c) Maturity value of $1,843,590. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $1,880,999.

(d) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

48

MML Income & Growth Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 95.3%
COMMON STOCK — 95.3%
Basic Materials — 3.5%
Chemicals — 3.0%
The Dow Chemical Co.		129,590	$	8,173,241
Praxair, Inc.		6,640		880,132
				9,053,373
Forest Products & Paper — 0.5%
International Paper Co.		28,110		1,591,307
				10,644,680
Communications — 5.2%
Advertising — 0.7%
Publicis Groupe SA		29,940		2,243,062
Media — 1.7%
Comcast Corp. Class A		129,980		5,058,822
Telecommunications — 2.8%
BCE, Inc.		16,400		738,656
Motorola Solutions, Inc.		26,980		2,340,245
SK Telecom Co. Ltd. Sponsored ADR		65,040		1,669,577
Verizon Communications, Inc.		85,210		3,805,478
				8,553,956
				15,855,840
Consumer, Cyclical — 2.2%
Lodging — 0.1%
Hilton Worldwide Holdings, Inc.		2,146		132,730
Retail — 2.1%
Dollar General Corp.		34,320		2,474,129
The Gap, Inc.		55,130		1,212,309
The Home Depot, Inc.		17,750		2,722,850
				6,409,288
				6,542,018
Consumer, Non-cyclical — 22.7%
Agriculture — 0.8%
Altria Group, Inc.		16,660		1,240,670
Philip Morris International, Inc.		11,040		1,296,648
				2,537,318
Beverages — 1.7%
The Coca-Cola Co.		48,010		2,153,248
Diageo PLC		96,880		2,863,906
				5,017,154
Commercial Services — 1.3%
Experian PLC		116,810		2,398,787
Nielsen Holdings PLC		41,400		1,600,524
				3,999,311

	Number of Shares		Value
Cosmetics & Personal Care — 2.2%
The Procter & Gamble Co.		33,120	$	2,886,408
Unilever NV NY Shares		68,100		3,763,887
				6,650,295
Foods — 1.1%
The Kroger Co.		100,860		2,352,055
Mondelez International, Inc. Class A		22,370		966,160
				3,318,215
Health Care – Products — 1.0%
Becton, Dickinson & Co.		10,560		2,060,362
Smith & Nephew PLC		51,860		895,793
				2,956,155
Health Care – Services — 5.9%
Aetna, Inc.		38,192		5,798,692
Anthem, Inc.		35,410		6,661,683
Quest Diagnostics, Inc.		21,710		2,413,284
UnitedHealth Group, Inc.		16,253		3,013,631
				17,887,290
Pharmaceuticals — 8.7%
AstraZeneca PLC		76,321		5,114,954
Cardinal Health, Inc.		8,350		650,632
Johnson & Johnson		13,030		1,723,739
McKesson Corp.		16,130		2,654,030
Merck & Co., Inc.		96,190		6,164,817
Pfizer, Inc.		300,430		10,091,444
				26,399,616
				68,765,354
Energy — 10.5%
Oil & Gas — 9.7%
Anadarko Petroleum Corp.		12,920		585,793
Chevron Corp.		38,168		3,982,067
Exxon Mobil Corp.		32,110		2,592,240
Hess Corp.		66,172		2,902,965
Marathon Oil Corp.		110,910		1,314,284
Marathon Petroleum Corp.		44,230		2,314,556
Occidental Petroleum Corp.		71,794		4,298,307
Royal Dutch Shell PLC A Shares Sponsored ADR		50,370		2,679,180
Suncor Energy, Inc.		154,260		4,504,392
Total SA Sponsored ADR		83,283		4,130,004
				29,303,788
Oil & Gas Services — 0.4%
Halliburton Co.		28,000		1,195,880
Pipelines — 0.4%
Enbridge, Inc.		30,179		1,201,426
				31,701,094

The accompanying notes are an integral part of the financial statements.

49

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

	Number of Shares		Value
Financial — 27.1%
Banks — 19.9%
Bank of America Corp.		452,490	$	10,977,407
Citigroup, Inc.		167,390		11,195,043
The Goldman Sachs Group, Inc.		17,170		3,810,023
JP Morgan Chase & Co.		134,330		12,277,762
KeyCorp		94,150		1,764,371
Morgan Stanley		113,370		5,051,767
SunTrust Banks, Inc.		53,002		3,006,274
US Bancorp		84,330		4,378,414
Wells Fargo & Co.		145,630		8,069,358
				60,530,419
Diversified Financial Services — 0.5%
Invesco Ltd.		42,294		1,488,326
Insurance — 6.3%
The Allstate Corp.		14,940		1,321,294
American International Group, Inc.		91,640		5,729,333
Marsh & McLennan Cos., Inc.		27,731		2,161,909
MetLife, Inc.		76,190		4,185,878
Prudential Financial, Inc.		33,840		3,659,457
The Travelers Cos., Inc.		16,190		2,048,521
				19,106,392
Real Estate Investment Trusts (REITS) — 0.4%
Weyerhaeuser Co.		34,840		1,167,140
				82,292,277
Industrial — 9.8%
Aerospace & Defense — 2.7%
Lockheed Martin Corp.		12,960		3,597,826
Northrop Grumman Corp.		17,210		4,417,979
				8,015,805
Electronics — 2.8%
Honeywell International, Inc.		30,010		4,000,033
Koninklijke Philips NV		128,840		4,586,250
				8,586,283
Miscellaneous – Manufacturing — 3.1%
3M Co.		10,600		2,206,814
General Electric Co.		237,150		6,405,421
Pentair PLC		12,370		823,100
				9,435,335
Transportation — 1.2%
Union Pacific Corp.		15,199		1,655,323
United Parcel Service, Inc. Class B		16,970		1,876,712
				3,532,035
				29,569,458
Technology — 9.4%
Computers — 0.4%
Lenovo Group Ltd.		2,090,000		1,319,786
Semiconductors — 3.8%
QUALCOMM, Inc.		29,950		1,653,839

	Number of Shares		Value
Samsung Electronics Co., Ltd. GDR (a) (b)		5,530	$	5,714,501
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR		122,050		4,266,868
				11,635,208
Software — 5.2%
Constellation Software, Inc.		1,230		643,464
Microsoft Corp.		88,390		6,092,723
Oracle Corp.		178,560		8,952,998
				15,689,185
				28,644,179
Utilities — 4.9%
Electric — 4.9%
Dominion Energy, Inc.		22,050		1,689,692
Exelon Corp.		44,870		1,618,461
FirstEnergy Corp.		76,189		2,221,671
NextEra Energy, Inc.		32,220		4,514,989
PG&E Corp.		33,420		2,218,085
Public Service Enterprise Group, Inc.		58,570		2,519,096
				14,781,994
TOTAL COMMON STOCK (Cost $234,340,553)				288,796,894
TOTAL EQUITIES (Cost $234,340,553)				288,796,894
TOTAL LONG-TERM INVESTMENTS (Cost $234,340,553)				288,796,894
	Principal Amount
SHORT-TERM INVESTMENTS — 4.6%
Repurchase Agreement — 4.6%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (c)	$	13,960,762		13,960,762
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		56,195		56,195
TOTAL SHORT-TERM INVESTMENTS (Cost $14,016,957)				14,016,957
TOTAL INVESTMENTS — 99.9% (Cost $248,357,510) (d)				302,813,851
Other Assets/(Liabilities) — 0.1%				304,084
NET ASSETS — 100.0%			$	303,117,935

The accompanying notes are an integral part of the financial statements.

50

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

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

GDR Global Depositary Receipt

(a) Non-income producing security.

(b) Security exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At June 30, 2017, these securities amounted to a value of $5,714,501 or 1.89% of net assets.

(c) Maturity value of $13,960,820. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $14,244,752.

(d) See Note 6 for aggregate cost for federal tax purposes.

Country weightings, as a percentage of net assets, is as follows:

United States	78.0	%
United Kingdom	5.1	%
Netherlands	2.8	%
Republic of Korea	2.4	%
Canada	2.3	%
France	2.1	%
Taiwan	1.4	%
Bermuda	0.5	%
Hong Kong	0.4	%
Ireland	0.3	%
Total Long-Term Investments	95.3	%
Short-Term Investments and Other Assets and Liabilities	4.7	%
Net Assets	100.0	%

The accompanying notes are an integral part of the financial statements.

51

MML International Equity Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 96.4%
COMMON STOCK — 96.4%
Australia — 3.4%
AMP Ltd.		837,000	$	3,335,528
Orica Ltd.		176,724		2,805,522
				6,141,050
Cayman Islands — 2.5%
Baidu, Inc. Sponsored ADR (a)		22,885		4,093,211
Melco Resorts & Entertainment Ltd. ADR		21,100		473,695
				4,566,906
France — 14.9%
BNP Paribas SA		95,050		6,913,165
Bureau Veritas SA		132,500		2,935,080
Danone SA		37,594		2,825,918
Kering		3,740		1,280,538
LVMH Moet Hennessy Louis Vuitton SE		3,480		873,000
Pernod Ricard SA		16,105		2,158,994
Publicis Groupe SA		50,300		3,768,404
Safran SA		32,970		3,024,203
Sanofi		4,900		470,949
Valeo SA		36,110		2,449,460
				26,699,711
Germany — 13.0%
Allianz SE Registered		34,580		6,814,641
Bayerische Motoren Werke AG		58,455		5,440,798
Continental AG		17,070		3,683,841
Daimler AG Registered		101,060		7,331,251
				23,270,531
India — 1.0%
Infosys Ltd. Sponsored ADR		117,200		1,760,344
Indonesia — 2.1%
Bank Mandiri Persero Tbk PT		3,983,000		3,800,694
Ireland — 2.0%
Willis Towers Watson PLC		24,809		3,608,717
Italy — 3.4%
Intesa Sanpaolo SpA		1,704,300		5,436,925
PRADA SpA		187,000		693,484
				6,130,409
Japan — 6.0%
Daiwa Securities Group, Inc.		298,700		1,774,832
Komatsu Ltd.		27,500		701,068
Olympus Corp.		40,300		1,472,826
Omron Corp.		21,600		939,681
Toyota Motor Corp.		111,500		5,848,722
				10,737,129

	Number of Shares		Value
Mexico — 1.8%
Grupo Televisa SAB Sponsored ADR		136,100	$	3,316,757
Netherlands — 8.1%
Akzo Nobel NV		9,761		847,361
ASML Holding NV		14,470		1,884,010
CNH Industrial NV		489,100		5,566,581
EXOR NV		71,400		3,885,283
Koninklijke Philips NV		65,915		2,346,341
				14,529,576
Republic of Korea — 0.6%
Samsung Electronics Co. Ltd.		560		1,161,878
Sweden — 5.6%
Atlas Copco AB Class B		15,200		526,119
Hennes & Mauritz AB Class B		225,100		5,622,030
SKF AB Class B		124,000		2,524,195
Volvo AB Class B		84,200		1,438,210
				10,110,554
Switzerland — 11.4%
Cie Financiere Richemont SA Registered		38,450		3,172,800
Credit Suisse Group AG Registered		569,323		8,249,092
Kuehne & Nagel International AG Registered		15,200		2,540,804
LafargeHolcim Ltd. Registered		65,070		3,738,066
Nestle SA Registered		9,070		790,088
The Swatch Group AG		5,360		1,981,585
				20,472,435
Taiwan — 0.3%
Taiwan Semiconductor Manufacturing Co. Ltd.		73,000		498,148
United Kingdom — 20.3%
Ashtead Group PLC		152,100		3,154,989
Diageo PLC		118,400		3,500,067
Experian PLC		87,600		1,798,936
G4S PLC		370,200		1,575,100
Glencore PLC		2,469,600		9,269,402
Lloyds Banking Group PLC		7,814,700		6,745,078
Meggitt PLC		242,738		1,510,045
Royal Bank of Scotland Group PLC (a)		852,500		2,747,259
Schroders PLC		79,900		3,231,670
Smiths Group PLC		62,800		1,308,408
Wolseley PLC		9,100		559,624
WPP PLC		47,000		988,882
				36,389,460
TOTAL COMMON STOCK (Cost $151,812,792)				173,194,299

The accompanying notes are an integral part of the financial statements.

52

MML International Equity Fund – Portfolio of Investments (Continued)

			Value
TOTAL EQUITIES (Cost $151,812,792)			$	173,194,299
TOTAL LONG-TERM INVESTMENTS (Cost $151,812,792)				173,194,299
	Principal Amount
SHORT-TERM INVESTMENTS — 3.5%
Repurchase Agreement — 3.5%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	6,354,403		6,354,403
TOTAL SHORT-TERM INVESTMENTS (Cost $6,354,403)				6,354,403
TOTAL INVESTMENTS — 99.9% (Cost $158,167,195) (c)				179,548,702
Other Assets/(Liabilities) — 0.1%				177,197
NET ASSETS — 100.0%			$	179,725,899

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Maturity value of $6,354,429. Collateralized by U.S. Government Agency obligations with a rate of 1.625%, maturity date of 4/30/19, and an aggregate market value, including accrued interest, of $6,482,033.

(c) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

53

MML Large Cap Growth Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.4%
COMMON STOCK — 98.4%
Communications — 32.6%
Internet — 26.5%
Alibaba Group Holding Ltd. Sponsored ADR (a)		48,732	$	6,866,339
Alphabet, Inc. Class A (a)		3,594		3,341,270
Alphabet, Inc. Class C (a)		3,604		3,275,063
Amazon.com, Inc. (a)		8,779		8,498,072
Facebook, Inc. Class A (a)		50,773		7,665,707
				29,646,451
Media — 1.6%
FactSet Research Systems, Inc.		11,048		1,835,957
Telecommunications — 4.5%
Cisco Systems, Inc.		158,884		4,973,069
				36,455,477
Consumer, Cyclical — 3.2%
Retail — 3.2%
Yum China Holdings, Inc. (a)		39,758		1,567,658
Yum! Brands, Inc.		27,046		1,994,913
				3,562,571
Consumer, Non-cyclical — 27.3%
Beverages — 6.6%
The Coca-Cola Co.		73,632		3,302,395
Monster Beverage Corp. (a)		82,676		4,107,344
				7,409,739
Biotechnology — 5.0%
Amgen, Inc.		12,726		2,191,799
Regeneron Pharmaceuticals, Inc. (a)		6,988		3,432,086
				5,623,885
Commercial Services — 0.8%
Automatic Data Processing, Inc.		9,231		945,808
Cosmetics & Personal Care — 2.9%
The Procter & Gamble Co.		36,952		3,220,367
Foods — 3.3%
Danone SA Sponsored ADR		244,057		3,665,736
Health Care – Products — 2.4%
Varex Imaging Corp. (a)		1,094		36,977
Varian Medical Systems, Inc. (a)		25,098		2,589,863
				2,626,840
Pharmaceuticals — 6.3%
Merck & Co., Inc.		21,806		1,397,547
Novartis AG Sponsored ADR		27,047		2,257,613
Novo Nordisk A/S Sponsored ADR		79,164		3,395,344
				7,050,504
				30,542,879

	Number of Shares		Value
Energy — 1.7%
Oil & Gas Services — 1.7%
Schlumberger Ltd.		29,554	$	1,945,835
Financial — 9.2%
Diversified Financial Services — 9.2%
American Express Co.		18,943		1,595,758
SEI Investments Co.		57,516		3,093,211
Visa, Inc. Class A		60,057		5,632,145
				10,321,114
Industrial — 7.8%
Machinery – Diversified — 2.6%
Deere & Co.		23,837		2,946,015
Transportation — 5.2%
Expeditors International of Washington, Inc.		55,456		3,132,155
United Parcel Service, Inc. Class B		23,672		2,617,886
				5,750,041
				8,696,056
Technology — 16.6%
Semiconductors — 3.5%
Analog Devices, Inc.		6,230		484,694
QUALCOMM, Inc.		62,511		3,451,858
				3,936,552
Software — 13.1%
Autodesk, Inc. (a)		39,547		3,987,129
Cerner Corp. (a)		39,548		2,628,756
Microsoft Corp.		42,207		2,909,328
Oracle Corp.		102,118		5,120,196
				14,645,409
				18,581,961
TOTAL COMMON STOCK (Cost $86,873,469)				110,105,893
TOTAL EQUITIES (Cost $86,873,469)				110,105,893
TOTAL LONG-TERM INVESTMENTS (Cost $86,873,469)				110,105,893
	Principal Amount
SHORT-TERM INVESTMENTS — 1.1%
Repurchase Agreement — 1.1%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	1,254,808		1,254,808

The accompanying notes are an integral part of the financial statements.

54

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

	Principal Amount		Value
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17	$	1,244	$	1,244
TOTAL SHORT-TERM INVESTMENTS (Cost $1,256,052)				1,256,052
TOTAL INVESTMENTS — 99.5% (Cost $88,129,521) (c)				111,361,945
Other Assets/(Liabilities) — 0.5%				509,623
NET ASSETS — 100.0%			$	111,871,568

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Maturity value of $1,254,814. Collateralized by U.S. Government Agency obligations with a rate of 2.125%, maturity date of 9/30/21, and an aggregate market value, including accrued interest, of $1,280,330.

(c) See Note 6 for aggregate cost for federal tax purposes.

Country weightings, as a percentage of net assets, is as follows:

United States	82.3	%
Cayman Islands	6.1	%
France	3.3	%
Denmark	3.0	%
Switzerland	2.0	%
Netherlands	1.7	%
Total Long-Term Investments	98.4	%
Short-Term Investments and Other Assets and Liabilities	1.6	%
Net Assets	100.0	%

The accompanying notes are an integral part of the financial statements.

55

MML Managed Volatility Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.7%
COMMON STOCK — 98.7%
Basic Materials — 2.3%
Chemicals — 1.9%
Air Products & Chemicals, Inc. (a)		1,934	$	276,678
Albemarle Corp. (a)		972		102,585
CF Industries Holdings, Inc. (a)		1,971		55,109
The Dow Chemical Co. (a)		9,801		618,149
E.I. du Pont de Nemours & Co. (a)		7,604		613,719
Eastman Chemical Co. (a)		1,263		106,080
FMC Corp. (a)		1,167		85,250
International Flavors & Fragrances, Inc. (a)		675		91,125
LyondellBasell Industries NV Class A (a)		2,877		242,790
Monsanto Co. (a)		3,870		458,053
The Mosaic Co. (a)		3,135		71,572
PPG Industries, Inc. (a)		2,269		249,499
Praxair, Inc. (a)		2,509		332,568
The Sherwin-Williams Co. (a)		718		251,989
				3,555,166
Forest Products & Paper — 0.1%
International Paper Co. (a)		3,622		205,041
Iron & Steel — 0.1%
Nucor Corp. (a)		2,757		159,548
Mining — 0.2%
Freeport-McMoRan, Inc. (a) (b)		12,012		144,264
Newmont Mining Corp. (a)		4,703		152,330
				296,594
				4,216,349
Communications — 13.2%
Advertising — 0.1%
The Interpublic Group of Cos., Inc. (a)		3,643		89,618
Omnicom Group, Inc. (a)		2,046		169,613
				259,231
Internet — 7.2%
Alphabet, Inc. Class A (a) (b)		2,620		2,435,762
Alphabet, Inc. Class C (a) (b)		2,604		2,366,333
Amazon.com, Inc. (a) (b)		3,491		3,379,288
eBay, Inc. (a) (b)		8,990		313,931
Expedia, Inc. (a)		1,050		156,397
F5 Networks, Inc. (a) (b)		552		70,137
Facebook, Inc. Class A (a) (b)		20,758		3,134,043
Netflix, Inc. (a) (b)		3,790		566,264
The Priceline Group, Inc. (a) (b)		433		809,935
Symantec Corp. (a)		5,409		152,804
TripAdvisor, Inc. (a) (b)		1,100		42,020
VeriSign, Inc. (a) (b)		757		70,371
				13,497,285

	Number of Shares		Value
Media — 2.9%
CBS Corp. Class B (a)		3,331	$	212,451
Charter Communications, Inc. Class A (a) (b)		1,888		635,973
Comcast Corp. Class A (a)		41,699		1,622,925
Discovery Communications, Inc. Class A (a) (b)		1,248		32,236
Discovery Communications, Inc. Class C (a) (b)		1,970		49,664
DISH Network Corp. Class A (a) (b)		1,984		124,516
News Corp. Class A (a)		3,310		45,347
News Corp. Class B (a)		1,400		19,810
Scripps Networks Interactive, Inc. Class A (a)		856		58,473
Time Warner, Inc. (a)		6,812		683,993
Twenty-First Century Fox, Inc. Class A (a)		9,334		264,526
Twenty-First Century Fox, Inc. Class B (a)		4,242		118,224
Viacom, Inc. Class B (a)		3,051		102,422
The Walt Disney Co. (a)		12,816		1,361,700
				5,332,260
Telecommunications — 3.0%
AT&T, Inc. (a)		54,163		2,043,570
CenturyLink, Inc. (a)		4,754		113,526
Cisco Systems, Inc. (a)		44,186		1,383,022
Juniper Networks, Inc. (a)		3,405		94,931
Level 3 Communications, Inc. (a) (b)		2,561		151,867
Motorola Solutions, Inc. (a)		1,437		124,645
Verizon Communications, Inc. (a)		35,925		1,604,411
				5,515,972
				24,604,748
Consumer, Cyclical — 8.8%
Airlines — 0.6%
Alaska Air Group, Inc. (a)		1,103		99,005
American Airlines Group, Inc. (a)		4,483		225,585
Delta Air Lines, Inc. (a)		6,422		345,118
Southwest Airlines Co. (a)		5,367		333,506
United Continental Holdings, Inc. (a) (b)		2,516		189,329
				1,192,543
Apparel — 0.6%
Hanesbrands, Inc. (a)		3,430		79,439
Michael Kors Holdings Ltd. (a) (b)		1,363		49,409
NIKE, Inc. Class B (a)		11,604		684,636
Ralph Lauren Corp. (a)		558		41,180
Under Armour, Inc. Class A (a) (b)		1,616		35,164
Under Armour, Inc. Class C (a) (b)		1,787		36,026
VF Corp. (a)		2,990		172,224
				1,098,078

The accompanying notes are an integral part of the financial statements.

56

MML Managed Volatility Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Auto Manufacturers — 0.5%
Ford Motor Co. (a)		33,921	$	379,576
General Motors Co. (a)		12,094		422,443
PACCAR, Inc. (a)		3,022		199,573
				1,001,592
Auto Parts & Equipment — 0.2%
BorgWarner, Inc. (a)		1,724		73,028
Delphi Automotive PLC (a)		2,381		208,695
The Goodyear Tire & Rubber Co. (a)		2,400		83,904
				365,627
Distribution & Wholesale — 0.2%
Fastenal Co. (a)		2,511		109,304
LKQ Corp. (a) (b)		2,625		86,494
W.W. Grainger, Inc. (a)		487		87,918
				283,716
Home Builders — 0.1%
D.R. Horton, Inc. (a)		3,021		104,436
Lennar Corp. Class A (a)		1,839		98,056
PulteGroup, Inc. (a)		2,438		59,804
				262,296
Home Furnishing — 0.1%
Leggett & Platt, Inc. (a)		1,226		64,402
Whirlpool Corp. (a)		641		122,828
				187,230
Housewares — 0.1%
Newell Brands, Inc. (a)		4,260		228,421
Leisure Time — 0.3%
Carnival Corp. (a)		3,715		243,592
Harley-Davidson, Inc. (a)		1,529		82,597
Royal Caribbean Cruises Ltd. (a)		1,483		161,988
				488,177
Lodging — 0.3%
Hilton Worldwide Holdings, Inc. (a)		1,785		110,403
Marriott International, Inc. Class A (a)		2,733		274,147
Wyndham Worldwide Corp. (a)		951		95,490
Wynn Resorts Ltd. (a)		708		94,957
				574,997
Retail — 5.6%
Advance Auto Parts, Inc. (a)		623		72,635
AutoNation, Inc. (a) (b)		489		20,616
AutoZone, Inc. (a) (b)		250		142,615
Bed Bath & Beyond, Inc. (a)		1,293		39,307
Best Buy Co., Inc. (a)		2,399		137,535
CarMax, Inc. (a) (b)		1,658		104,553
Chipotle Mexican Grill, Inc. (a) (b)		248		103,193
Coach, Inc. (a)		2,475		117,166
Costco Wholesale Corp. (a)		3,859		617,170
CVS Health Corp. (a)		9,021		725,830
Darden Restaurants, Inc. (a)		1,057		95,595

	Number of Shares		Value
Dollar General Corp. (a)		2,284	$	164,653
Dollar Tree, Inc. (a) (b)		2,140		149,629
Foot Locker, Inc. (a)		1,218		60,023
The Gap, Inc. (a)		2,014		44,288
Genuine Parts Co. (a)		1,344		124,669
The Home Depot, Inc. (a)		10,729		1,645,829
Kohl’s Corp. (a)		1,471		56,884
L Brands, Inc. (a)		2,034		109,612
Lowe’s Cos., Inc. (a)		7,688		596,051
Macy’s, Inc. (a)		2,865		66,583
McDonald’s Corp. (a)		7,227		1,106,887
Nordstrom, Inc. (a)		995		47,591
O’Reilly Automotive, Inc. (a) (b)		809		176,961
PVH Corp. (a)		700		80,150
Ross Stores, Inc. (a)		3,474		200,554
Signet Jewelers Ltd. (a)		663		41,928
Staples, Inc. (a)		5,382		54,197
Starbucks Corp. (a)		12,846		749,050
Target Corp. (a)		4,909		256,692
Tiffany & Co. (a)		978		91,805
The TJX Cos., Inc. (a)		5,674		409,493
Tractor Supply Co. (a)		1,181		64,022
Ulta Salon Cosmetics & Fragrance, Inc. (a) (b)		507		145,681
Wal-Mart Stores, Inc. (a)		13,274		1,004,576
Walgreens Boots Alliance, Inc. (a)		7,489		586,464
Yum! Brands, Inc. (a)		2,956		218,034
				10,428,521
Textiles — 0.1%
Mohawk Industries, Inc. (a) (b)		545		131,721
Toys, Games & Hobbies — 0.1%
Hasbro, Inc. (a)		961		107,161
Mattel, Inc. (a)		3,075		66,205
				173,366
				16,416,285
Consumer, Non-cyclical — 23.0%
Agriculture — 1.9%
Altria Group, Inc. (a)		17,104		1,273,735
Archer-Daniels-Midland Co. (a)		5,135		212,486
Philip Morris International, Inc. (a)		13,667		1,605,189
Reynolds American, Inc. (a)		7,313		475,638
				3,567,048
Beverages — 2.1%
Brown-Forman Corp. Class B (a)		1,590		77,274
The Coca-Cola Co. (a)		34,065		1,527,815
Constellation Brands, Inc. Class A (a)		1,541		298,538
Dr. Pepper Snapple Group, Inc. (a)		1,592		145,047
Molson Coors Brewing Co. Class B (a)		1,600		138,144
Monster Beverage Corp. (a) (b)		3,580		177,854
PepsiCo, Inc. (a)		12,577		1,452,518
				3,817,190

The accompanying notes are an integral part of the financial statements.

57

MML Managed Volatility Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Biotechnology — 2.5%
Alexion Pharmaceuticals, Inc. (a) (b)		1,997	$	242,975
Amgen, Inc. (a)		6,487		1,117,256
Biogen, Inc. (a) (b)		1,891		513,142
Celgene Corp. (a) (b)		6,847		889,220
Gilead Sciences, Inc. (a)		11,503		814,182
Illumina, Inc. (a) (b)		1,306		226,617
Incyte Corp. (a) (b)		1,497		188,487
Regeneron Pharmaceuticals, Inc. (a) (b)		668		328,082
Vertex Pharmaceuticals, Inc. (a) (b)		2,197		283,127
				4,603,088
Commercial Services — 1.6%
Automatic Data Processing, Inc. (a)		3,939		403,590
Cintas Corp. (a)		788		99,319
Ecolab, Inc. (a)		2,332		309,573
Equifax, Inc. (a)		1,048		144,016
Gartner, Inc. (a) (b)		803		99,179
Global Payments, Inc. (a)		1,353		122,203
H&R Block, Inc. (a)		1,881		58,142
IHS Markit Ltd. (a) (b)		2,814		123,929
Moody’s Corp. (a)		1,470		178,870
Nielsen Holdings PLC (a)		2,973		114,936
PayPal Holdings, Inc. (a) (b)		9,884		530,474
Quanta Services, Inc. (a) (b)		1,344		44,244
Robert Half International, Inc. (a)		1,168		55,982
S&P Global, Inc. (a)		2,264		330,521
Total System Services, Inc. (a)		1,495		87,084
United Rentals, Inc. (a) (b)		735		82,842
Verisk Analytics, Inc. (a) (b)		1,313		110,778
The Western Union Co. (a)		4,272		81,382
				2,977,064
Cosmetics & Personal Care — 1.5%
Colgate-Palmolive Co. (a)		7,753		574,730
Coty, Inc. Class A (a)		4,013		75,284
The Estee Lauder Cos., Inc. Class A (a)		1,949		187,065
The Procter & Gamble Co. (a)		22,601		1,969,677
				2,806,756
Foods — 1.5%
Campbell Soup Co. (a)		1,653		86,204
Conagra Brands, Inc. (a)		3,747		133,993
General Mills, Inc. (a)		5,014		277,776
The Hershey Co. (a)		1,223		131,314
Hormel Foods Corp. (a)		2,458		83,842
The J.M. Smucker Co. (a)		1,059		125,312
Kellogg Co. (a)		2,222		154,340
The Kraft Heinz Co. (a)		5,291		453,121
The Kroger Co. (a)		8,060		187,959
McCormick & Co., Inc. (a)		992		96,730
Mondelez International, Inc. Class A (a)		13,419		579,567

	Number of Shares		Value
Sysco Corp. (a)		4,452	$	224,069
Tyson Foods, Inc. Class A (a)		2,518		157,702
Whole Foods Market, Inc. (a)		2,885		121,487
				2,813,416
Health Care – Products — 3.2%
Abbott Laboratories (a)		15,321		744,754
Align Technology, Inc. (a) (b)		665		99,830
Baxter International, Inc. (a)		4,257		257,719
Becton, Dickinson & Co. (a)		1,965		383,391
Boston Scientific Corp. (a) (b)		12,150		336,798
C.R. Bard, Inc. (a)		643		203,259
The Cooper Cos., Inc. (a)		444		106,302
Danaher Corp. (a)		5,430		458,237
DENTSPLY SIRONA, Inc. (a)		2,028		131,495
Edwards Lifesciences Corp. (a) (b)		1,874		221,582
Henry Schein, Inc. (a) (b)		692		126,650
Hologic, Inc. (a) (b)		2,466		111,907
IDEXX Laboratories, Inc. (a) (b)		795		128,329
Intuitive Surgical, Inc. (a) (b)		327		305,866
Medtronic PLC (a)		12,013		1,066,154
Patterson Cos., Inc. (a)		663		31,128
Stryker Corp. (a)		2,708		375,816
Thermo Fisher Scientific, Inc. (a)		3,438		599,828
Varian Medical Systems, Inc. (a) (b)		857		88,434
Zimmer Biomet Holdings, Inc. (a)		1,771		227,396
				6,004,875
Health Care – Services — 2.2%
Aetna, Inc. (a)		2,906		441,218
Anthem, Inc. (a)		2,344		440,977
Centene Corp. (a) (b)		1,515		121,018
Cigna Corp. (a)		2,292		383,658
DaVita, Inc. (a) (b)		1,373		88,916
Envision Healthcare Corp. (a) (b)		1,006		63,046
HCA Healthcare, Inc. (a) (b)		2,567		223,842
Humana, Inc. (a)		1,306		314,250
Laboratory Corp. of America Holdings (a) (b)		921		141,963
Quest Diagnostics, Inc. (a)		1,239		137,727
UnitedHealth Group, Inc. (a)		8,485		1,573,289
Universal Health Services, Inc. Class B (a)		793		96,809
				4,026,713
Household Products & Wares — 0.4%
Avery Dennison Corp. (a)		821		72,552
Church & Dwight Co., Inc. (a)		2,207		114,499
The Clorox Co. (a)		1,141		152,027
Kimberly-Clark Corp. (a)		3,133		404,501
				743,579
Pharmaceuticals — 6.1%
AbbVie, Inc. (a)		14,046		1,018,475
Allergan PLC (a)		2,950		717,115

The accompanying notes are an integral part of the financial statements.

58

MML Managed Volatility Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
AmerisourceBergen Corp. (a)		1,421	$	134,327
Bristol-Myers Squibb Co. (a)		14,724		820,421
Cardinal Health, Inc. (a)		2,717		211,709
Eli Lilly & Co. (a)		8,547		703,418
Express Scripts Holding Co. (a) (b)		5,392		344,225
Johnson & Johnson (a)		23,924		3,164,906
Mallinckrodt PLC (a) (b)		902		40,419
McKesson Corp. (a)		1,868		307,361
Merck & Co., Inc. (a)		24,207		1,551,427
Mylan NV (a) (b)		4,056		157,454
Perrigo Co. PLC (a)		1,229		92,814
Pfizer, Inc. (a)		52,486		1,763,005
Zoetis, Inc. (a)		4,375		272,913
				11,299,989
				42,659,718
Diversified — 0.0%
Holding Company – Diversified — 0.0%
Leucadia National Corp. (a)		2,905		75,995
Energy — 5.9%
Oil & Gas — 4.7%
Anadarko Petroleum Corp. (a)		4,978		225,702
Apache Corp. (a)		3,366		161,332
Cabot Oil & Gas Corp. (a)		4,253		106,665
Chesapeake Energy Corp. (a) (b)		7,048		35,029
Chevron Corp. (a)		16,681		1,740,329
Cimarex Energy Co. (a)		850		79,908
Concho Resources, Inc. (a) (b)		1,318		160,177
ConocoPhillips (a)		10,808		475,120
Devon Energy Corp. (a)		4,638		148,277
EOG Resources, Inc. (a)		5,042		456,402
EQT Corp. (a)		1,530		89,643
Exxon Mobil Corp. (a)		36,551		2,950,762
Helmerich & Payne, Inc. (a)		913		49,612
Hess Corp. (a)		2,342		102,744
Marathon Oil Corp. (a)		7,515		89,053
Marathon Petroleum Corp. (a)		4,635		242,550
Murphy Oil Corp. (a)		1,605		41,136
Newfield Exploration Co. (a) (b)		1,681		47,841
Noble Energy, Inc. (a)		4,058		114,841
Occidental Petroleum Corp. (a)		6,685		400,231
Phillips 66 (a)		3,928		324,806
Pioneer Natural Resources Co. (a)		1,470		234,583
Range Resources Corp. (a)		1,772		41,057
Tesoro Corp. (a)		1,343		125,705
Transocean Ltd. (a) (b)		3,645		29,998
Valero Energy Corp. (a)		4,008		270,380
				8,743,883
Oil & Gas Services — 0.8%
Baker Hughes, Inc. (a)		3,707		202,068
Halliburton Co. (a)		7,713		329,422
National Oilwell Varco, Inc. (a)		3,289		108,340
Schlumberger Ltd. (a)		12,251		806,606

	Number of Shares		Value
TechnipFMC PLC (a) (b)		4,256	$	115,763
				1,562,199
Pipelines — 0.4%
Kinder Morgan, Inc. (a)		16,796		321,811
ONEOK, Inc. (a)		1,869		97,487
The Williams Cos., Inc. (a)		7,234		219,046
				638,344
				10,944,426
Financial — 18.4%
Banks — 7.8%
Bank of America Corp. (a)		88,340		2,143,128
The Bank of New York Mellon Corp. (a)		9,087		463,619
BB&T Corp. (a)		7,204		327,134
Capital One Financial Corp. (a)		4,234		349,813
Citigroup, Inc. (a)		24,411		1,632,608
Citizens Financial Group, Inc. (a)		4,400		156,992
Comerica, Inc. (a)		1,509		110,519
Fifth Third Bancorp (a)		6,654		172,738
The Goldman Sachs Group, Inc. (a)		3,253		721,841
Huntington Bancshares, Inc. (a)		9,779		132,212
JP Morgan Chase & Co. (a)		31,497		2,878,826
KeyCorp (a)		9,537		178,723
M&T Bank Corp. (a)		1,383		223,977
Morgan Stanley (a)		12,612		561,991
Northern Trust Corp. (a)		1,878		182,560
The PNC Financial Services Group, Inc. (a)		4,273		533,569
Regions Financial Corp. (a)		10,663		156,106
State Street Corp. (a)		3,198		286,957
SunTrust Banks, Inc. (a)		4,321		245,087
US Bancorp (a)		14,028		728,334
Wells Fargo & Co. (a)		39,692		2,199,334
Zions Bancorp (a)		1,783		78,291
				14,464,359
Diversified Financial Services — 3.4%
Affiliated Managers Group, Inc. (a)		498		82,598
Alliance Data Systems Corp. (a)		505		129,628
American Express Co. (a)		6,651		560,280
Ameriprise Financial, Inc. (a)		1,343		170,951
BlackRock, Inc. (a)		1,067		450,712
CBOE Holdings, Inc. (a)		843		77,050
The Charles Schwab Corp. (a)		10,776		462,937
CME Group, Inc. (a)		2,984		373,716
Discover Financial Services (a)		3,428		213,187
E*TRADE Financial Corp. (a) (b)		2,454		93,326
Franklin Resources, Inc. (a)		3,044		136,341
Intercontinental Exchange, Inc. (a)		5,221		344,168
Invesco Ltd. (a)		3,480		122,461
Mastercard, Inc. Class A (a)		8,300		1,008,035
Nasdaq, Inc. (a)		989		70,704

The accompanying notes are an integral part of the financial statements.

59

MML Managed Volatility Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Navient Corp. (a)		2,663	$	44,339
Raymond James Financial, Inc. (a)		1,153		92,494
Synchrony Financial (a)		6,831		203,700
T. Rowe Price Group, Inc. (a)		2,105		156,212
Visa, Inc. Class A (a)		16,381		1,536,210
				6,329,049
Insurance — 4.3%
Aflac, Inc. (a)		3,548		275,609
The Allstate Corp. (a)		3,209		283,804
American International Group, Inc. (a)		7,713		482,217
Aon PLC (a)		2,341		311,236
Arthur J Gallagher & Co. (a)		1,492		85,417
Assurant, Inc. (a)		459		47,594
Berkshire Hathaway, Inc. Class B (a) (b)		16,751		2,837,117
Chubb Ltd. (a)		4,107		597,076
Cincinnati Financial Corp. (a)		1,376		99,691
Everest Re Group Ltd. (a)		361		91,907
The Hartford Financial Services Group, Inc. (a)		3,271		171,956
Lincoln National Corp. (a)		1,948		131,646
Loews Corp. (a)		2,452		114,778
Marsh & McLennan Cos., Inc. (a)		4,586		357,524
MetLife, Inc. (a)		9,541		524,182
Principal Financial Group, Inc. (a)		2,384		152,743
The Progressive Corp. (a)		5,111		225,344
Prudential Financial, Inc. (a)		3,780		408,769
Torchmark Corp. (a)		982		75,123
The Travelers Cos., Inc. (a)		2,468		312,276
Unum Group (a)		2,055		95,825
Willis Towers Watson PLC (a)		1,133		164,806
XL Group Ltd. (a)		2,390		104,682
				7,951,322
Real Estate — 0.1%
CBRE Group, Inc. Class A (a) (b)		2,647		96,351
Real Estate Investment Trusts (REITS) — 2.8%
Alexandria Real Estate Equities, Inc. (a)		801		96,496
American Tower Corp. (a)		3,790		501,493
Apartment Investment & Management Co. Class A (a)		1,362		58,525
AvalonBay Communities, Inc. (a)		1,218		234,063
Boston Properties, Inc. (a)		1,356		166,815
Crown Castle International Corp. (a)		3,199		320,476
Digital Realty Trust, Inc. (a)		1,420		160,389
Equinix, Inc. (a)		680		291,829
Equity Residential (a)		3,176		209,076
Essex Property Trust, Inc. (a)		581		149,474
Extra Space Storage, Inc. (a)		1,116		87,048
Federal Realty Investment Trust (a)		618		78,109
GGP, Inc. (a)		5,264		124,020
HCP, Inc. (a)		4,229		135,159

	Number of Shares		Value
Host Hotels & Resorts, Inc. (a)		6,508	$	118,901
Iron Mountain, Inc. (a)		2,212		76,004
Kimco Realty Corp. (a)		3,815		70,005
The Macerich Co. (a)		1,060		61,544
Mid-America Apartment Communities, Inc. (a)		1,007		106,118
Prologis, Inc. (a)		4,590		269,158
Public Storage (a)		1,330		277,345
Realty Income Corp. (a)		2,439		134,584
Regency Centers Corp. (a)		1,315		82,372
Simon Property Group, Inc. (a)		2,781		449,854
SL Green Realty Corp. (a)		918		97,124
UDR, Inc. (a)		2,302		89,709
Ventas, Inc. (a)		3,150		218,862
Vornado Realty Trust (a)		1,452		136,343
Welltower, Inc. (a)		3,217		240,792
Weyerhaeuser Co. (a)		6,602		221,167
				5,262,854
Savings & Loans — 0.0%
People’s United Financial, Inc. (a)		2,973		52,503
				34,156,438
Industrial — 10.0%
Aerospace & Defense — 2.3%
Arconic, Inc. (a)		3,830		86,749
The Boeing Co. (a)		5,024		993,496
General Dynamics Corp. (a)		2,521		499,410
Harris Corp. (a)		1,083		118,134
L3 Technologies, Inc. (a)		672		112,278
Lockheed Martin Corp. (a)		2,203		611,575
Northrop Grumman Corp. (a)		1,538		394,820
Raytheon Co. (a)		2,574		415,649
Rockwell Collins, Inc. (a)		1,444		151,736
TransDigm Group, Inc. (a)		434		116,690
United Technologies Corp. (a)		6,612		807,391
				4,307,928
Building Materials — 0.5%
Fortune Brands Home & Security, Inc. (a)		1,319		86,051
Johnson Controls International PLC (a)		8,360		362,490
Martin Marietta Materials, Inc. (a)		558		124,200
Masco Corp. (a)		2,886		110,274
Vulcan Materials Co. (a)		1,179		149,356
				832,371
Electrical Components & Equipment — 0.3%
Acuity Brands, Inc. (a)		370		75,213
AMETEK, Inc. (a)		1,975		119,626
Emerson Electric Co. (a)		5,747		342,636
				537,475

The accompanying notes are an integral part of the financial statements.

60

MML Managed Volatility Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Electronics — 1.3%
Agilent Technologies, Inc. (a)		2,841	$	168,500
Allegion PLC (a)		810		65,707
Amphenol Corp. Class A (a)		2,689		198,502
Corning, Inc. (a)		8,206		246,590
FLIR Systems, Inc. (a)		1,108		38,403
Fortive Corp. (a)		2,670		169,145
Garmin Ltd. (a)		965		49,244
Honeywell International, Inc. (a)		6,707		893,976
Mettler-Toledo International, Inc. (a) (b)		235		138,307
PerkinElmer, Inc. (a)		920		62,689
TE Connectivity Ltd. (a)		3,116		245,167
Waters Corp. (a) (b)		697		128,136
				2,404,366
Engineering & Construction — 0.1%
Fluor Corp. (a)		1,345		61,574
Jacobs Engineering Group, Inc. (a)		1,015		55,206
				116,780
Environmental Controls — 0.2%
Republic Services, Inc. (a)		2,097		133,642
Stericycle, Inc. (a) (b)		712		54,340
Waste Management, Inc. (a)		3,527		258,705
				446,687
Hand & Machine Tools — 0.1%
Snap-on, Inc. (a)		527		83,266
Stanley Black & Decker, Inc. (a)		1,318		185,482
				268,748
Machinery – Construction & Mining — 0.3%
Caterpillar, Inc. (a)		5,209		559,759
Machinery – Diversified — 0.6%
Cummins, Inc. (a)		1,347		218,510
Deere & Co. (a)		2,575		318,244
Flowserve Corp. (a)		1,113		51,677
Rockwell Automation, Inc. (a)		1,116		180,747
Roper Technologies, Inc. (a)		912		211,156
Xylem, Inc. (a)		1,647		91,293
				1,071,627
Miscellaneous – Manufacturing — 2.5%
3M Co. (a)		5,244		1,091,748
Dover Corp. (a)		1,386		111,185
Eaton Corp. PLC (a)		3,935		306,261
General Electric Co. (a)		76,860		2,075,989
Illinois Tool Works, Inc. (a)		2,766		396,230
Ingersoll-Rand PLC (a)		2,290		209,283
Parker-Hannifin Corp. (a)		1,171		187,149
Pentair PLC (a)		1,471		97,880
Textron, Inc. (a)		2,337		110,073
				4,585,798

	Number of Shares		Value
Packaging & Containers — 0.2%
Ball Corp. (a)		3,128	$	132,033
Sealed Air Corp. (a)		1,782		79,762
WestRock Co. (a)		2,144		121,479
				333,274
Transportation — 1.6%
C.H. Robinson Worldwide, Inc. (a)		1,198		82,279
CSX Corp. (a)		8,210		447,938
Expeditors International of Washington, Inc. (a)		1,591		89,860
FedEx Corp. (a)		2,147		466,608
J.B. Hunt Transport Services, Inc. (a)		790		72,190
Kansas City Southern (a)		910		95,231
Norfolk Southern Corp. (a)		2,586		314,716
Union Pacific Corp. (a)		7,150		778,706
United Parcel Service, Inc. Class B (a)		6,112		675,926
				3,023,454
				18,488,267
Technology — 14.0%
Computers — 5.4%
Accenture PLC Class A (a)		5,517		682,343
Apple, Inc. (a)		46,249		6,660,781
Cognizant Technology Solutions Corp. Class A (a)		5,400		358,560
CSRA, Inc. (a)		1,196		37,973
DXC Technology Co. (a)		2,461		188,808
Hewlett Packard Enterprise Co. (a)		14,521		240,903
HP, Inc. (a)		14,815		258,966
International Business Machines Corp. (a)		7,559		1,162,801
NetApp, Inc. (a)		2,510		100,526
Seagate Technology PLC (a)		2,674		103,617
Western Digital Corp. (a)		2,539		224,955
				10,020,233
Office & Business Equipment — 0.0%
Xerox Corp. (a)		1,879		53,984
Semiconductors — 3.4%
Advanced Micro Devices, Inc. (a) (b)		6,954		86,786
Analog Devices, Inc. (a)		3,178		247,248
Applied Materials, Inc. (a)		9,449		390,338
Broadcom Ltd. (a)		3,534		823,599
Intel Corp. (a)		41,698		1,406,890
KLA-Tencor Corp. (a)		1,356		124,087
Lam Research Corp. (a)		1,460		206,488
Microchip Technology, Inc. (a)		1,893		146,102
Micron Technology, Inc. (a) (b)		9,116		272,204
NVIDIA Corp. (a)		5,187		749,833
Qorvo, Inc. (a) (b)		1,124		71,172
QUALCOMM, Inc. (a)		13,000		717,860
Skyworks Solutions, Inc. (a)		1,640		157,358

The accompanying notes are an integral part of the financial statements.

61

MML Managed Volatility Fund – Portfolio of Investments (Continued)

	Number of Shares		Value
Texas Instruments, Inc. (a)		8,819	$	678,445
Xilinx, Inc. (a)		2,221		142,855
				6,221,265
Software — 5.2%
Activision Blizzard, Inc. (a)		6,079		349,968
Adobe Systems, Inc. (a) (b)		4,365		617,386
Akamai Technologies, Inc. (a) (b)		1,588		79,098
ANSYS, Inc. (a) (b)		762		92,720
Autodesk, Inc. (a) (b)		1,725		173,915
CA, Inc. (a)		2,689		92,690
Cerner Corp. (a) (b)		2,609		173,420
Citrix Systems, Inc. (a) (b)		1,344		106,956
Electronic Arts, Inc. (a) (b)		2,700		285,444
Fidelity National Information Services, Inc. (a)		2,858		244,073
Fiserv, Inc. (a) (b)		1,908		233,425
Intuit, Inc. (a)		2,157		286,471
Microsoft Corp. (a)		68,126		4,695,925
Oracle Corp. (a)		26,409		1,324,147
Paychex, Inc. (a)		2,781		158,350
Red Hat, Inc. (a) (b)		1,587		151,955
salesforce.com, Inc. (a) (b)		5,812		503,319
Synopsys, Inc. (a) (b)		1,364		99,477
				9,668,739
				25,964,221
Utilities — 3.1%
Electric — 2.8%
The AES Corp. (a)		5,869		65,205
Alliant Energy Corp. (a)		2,106		84,598
Ameren Corp. (a)		2,172		118,743
American Electric Power Co., Inc. (a)		4,308		299,277
CenterPoint Energy, Inc. (a)		3,692		101,087
CMS Energy Corp. (a)		2,412		111,555
Consolidated Edison, Inc. (a)		2,649		214,092
Dominion Energy, Inc. (a)		5,501		421,542
DTE Energy Co. (a)		1,586		167,783
Duke Energy Corp. (a)		6,198		518,091
Edison International (a)		2,871		224,483
Entergy Corp. (a)		1,573		120,759
Eversource Energy (a)		2,761		167,620
Exelon Corp. (a)		8,178		294,980
FirstEnergy Corp. (a)		3,938		114,832
NextEra Energy, Inc. (a)		4,106		575,374
NRG Energy, Inc. (a)		2,744		47,252
PG&E Corp. (a)		4,521		300,059
Pinnacle West Capital Corp. (a)		968		82,435
PPL Corp. (a)		6,018		232,656
Public Service Enterprise Group, Inc. (a)		4,508		193,889
SCANA Corp. (a)		1,266		84,835
The Southern Co. (a)		8,703		416,700
WEC Energy Group, Inc. (a)		2,724		167,199

	Number of Shares		Value
Xcel Energy, Inc. (a)		4,530	$	207,836
				5,332,882
Gas — 0.2%
NiSource, Inc. (a)		2,737		69,410
Sempra Energy (a)		2,239		252,447
				321,857
Water — 0.1%
American Water Works Co., Inc. (a)		1,546		120,511
				5,775,250
TOTAL COMMON STOCK (Cost $142,908,518)				183,301,697
TOTAL EQUITIES (Cost $142,908,518)				183,301,697
	Principal Amount
BONDS & NOTES — 0.0%
CORPORATE DEBT — 0.0%
Forest Products & Paper — 0.0%
Sino Forest Corp. (a) (c) 5.000% 8/01/49	$	359,000		-
TOTAL CORPORATE DEBT (Cost $0)				-
TOTAL BONDS & NOTES (Cost $0)				-
	Units
PURCHASED OPTIONS — 0.3%
Financial — 0.3%
Diversified Financial Services — 0.3%
S&P 500 Index, Put, Expires 07/21/17, Strike 2,175.00		74		6,068
S&P 500 Index, Put, Expires 07/21/17, Strike 2,225.00		88		10,560
S&P 500 Index, Put, Expires 08/18/17, Strike 2,200.00		90		38,700
S&P 500 Index, Put, Expires 08/18/17, Strike 2,225.00		87		48,720
S&P 500 Index, Put, Expires 09/15/17, Strike 2,200.00		109		95,375
S&P 500 Index, Put, Expires 09/15/17, Strike 2,225.00		125		126,875
S&P 500 Index, Put, Expires 09/15/17, Strike 2,250.00		90		113,400
S&P 500 Index, Put, Expires 10/20/17, Strike 2,200.00		90		139,500
				579,198

The accompanying notes are an integral part of the financial statements.

62

MML Managed Volatility Fund – Portfolio of Investments (Continued)

			Value
TOTAL PURCHASED OPTIONS (Cost $1,197,093)			$	579,198
TOTAL LONG-TERM INVESTMENTS (Cost $144,105,611)				183,880,895
	Principal Amount
SHORT-TERM INVESTMENTS — 1.5%
Repurchase Agreement — 1.5%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (d)	$	2,829,792		2,829,792
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		1,088		1,088
TOTAL SHORT-TERM INVESTMENTS (Cost $2,830,880)				2,830,880
TOTAL INVESTMENTS — 100.5% (Cost $146,936,491) (e)				186,711,775
Other Assets/(Liabilities) — (0.5)%				(978,103	)
NET ASSETS — 100.0%			$	185,733,672

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) All or a portion of these securities are pledged/held as collateral for written options. (Note 2).

(b) Non-income producing security.

(c) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2017, these securities amounted to a value of $0 or 0.00% of net assets.

(d) Maturity value of $2,829,804. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $2,887,587.

(e) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

63

MML Mid Cap Growth Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 93.8%
COMMON STOCK — 93.2%
Basic Materials — 3.7%
Chemicals — 3.1%
Air Products & Chemicals, Inc.		33,000	$	4,720,980
Ashland Global Holdings, Inc.		26,000		1,713,660
RPM International, Inc.		65,000		3,545,750
Valvoline, Inc.		172,000		4,079,840
				14,060,230
Mining — 0.6%
Franco-Nevada Corp.		37,000		2,669,920
				16,730,150
Communications — 3.0%
Internet — 2.2%
Dropbox, Inc. Class B (a) (b)		9,011		101,644
IAC/InterActiveCorp (b)		27,962		2,886,797
Match Group, Inc. (b)		39,000		677,820
TripAdvisor, Inc. (b)		23,000		878,600
VeriSign, Inc. (b) (c)		45,000		4,183,200
Zillow Group, Inc. Class A (b)		12,000		586,080
Zillow Group, Inc. Class C (b) (c)		12,000		588,120
				9,902,261
Media — 0.3%
FactSet Research Systems, Inc.		8,000		1,329,440
Telecommunications — 0.5%
DigitalGlobe, Inc. (b)		73,000		2,430,900
				13,662,601
Consumer, Cyclical — 14.5%
Airlines — 0.3%
United Continental Holdings, Inc. (b)		20,000		1,505,000
Apparel — 0.1%
Carter’s, Inc.		3,000		266,850
Auto Manufacturers — 0.4%
Ferrari NV		19,000		1,634,380
Tesla, Inc. (b)		1,000		361,610
				1,995,990
Auto Parts & Equipment — 0.3%
WABCO Holdings, Inc. (b)		12,000		1,530,120
Entertainment — 0.5%
Vail Resorts, Inc.		12,000		2,433,960
Food Services — 0.7%
Aramark		73,000		2,991,540
Leisure Time — 2.0%
Norwegian Cruise Line Holdings Ltd. (b)		138,000		7,492,020
Royal Caribbean Cruises Ltd.		16,000		1,747,680
				9,239,700

	Number of Shares		Value
Lodging — 2.0%
Marriott International, Inc. Class A		53,000	$	5,316,430
MGM Resorts International		116,000		3,629,640
				8,946,070
Retail — 8.2%
AutoZone, Inc. (b)		8,500		4,848,910
Burlington Stores, Inc. (b)		25,000		2,299,750
CarMax, Inc. (b)		61,000		3,846,660
Casey’s General Stores, Inc. (c)		24,000		2,570,640
Coach, Inc.		163,000		7,716,420
Dick’s Sporting Goods, Inc.		16,000		637,280
Dollar General Corp.		89,000		6,416,010
L Brands, Inc.		37,000		1,993,930
The Michaels Cos., Inc. (b)		122,000		2,259,440
O’Reilly Automotive, Inc. (b)		15,000		3,281,100
PVH Corp.		15,000		1,717,500
				37,587,640
				66,496,870
Consumer, Non-cyclical — 29.6%
Biotechnology — 2.3%
Alnylam Pharmaceuticals, Inc. (b) (c)		25,000		1,994,000
Bioverativ, Inc. (b)		8,000		481,360
Illumina, Inc. (b)		13,000		2,255,760
Incyte Corp. (b)		18,000		2,266,380
Kite Pharma, Inc. (b) (c)		12,000		1,244,040
Vertex Pharmaceuticals, Inc. (b)		17,000		2,190,790
				10,432,330
Commercial Services — 9.5%
CoreLogic, Inc. (b)		82,000		3,557,160
CoStar Group, Inc. (b)		3,000		790,800
Equifax, Inc.		49,000		6,733,580
FleetCor Technologies, Inc. (b)		27,000		3,893,670
Gartner, Inc. (b)		16,000		1,976,160
Global Payments, Inc.		53,000		4,786,960
IHS Markit Ltd. (b)		99,606		4,386,648
KAR Auction Services, Inc.		64,000		2,686,080
MacDonald Dettwiler & Associates Ltd. (c)		27,794		1,446,283
Sabre Corp.		98,000		2,133,460
TransUnion (b)		25,000		1,082,750
Vantiv, Inc. Class A (b)		81,000		5,130,540
Verisk Analytics, Inc. (b)		50,000		4,218,500
WeWork Companies, Inc. Class A (a) (b)		12,099		626,849
				43,449,440
Foods — 1.9%
Blue Buffalo Pet Products, Inc. (b) (c)		8,000		182,480
Conagra Brands, Inc.		59,159		2,115,526
Sprouts Farmers Market, Inc. (b)		116,000		2,629,720
TreeHouse Foods, Inc. (b) (c)		46,005		3,758,148
				8,685,874

The accompanying notes are an integral part of the financial statements.

64

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

	Number of Shares		Value
Health Care – Products — 9.8%
Bruker Corp.		162,000	$	4,672,080
The Cooper Cos., Inc.		30,000		7,182,600
DENTSPLY SIRONA, Inc.		69,000		4,473,960
Henry Schein, Inc. (b)		20,000		3,660,400
Hologic, Inc. (b)		170,000		7,714,600
IDEXX Laboratories, Inc. (b)		6,000		968,520
Intuitive Surgical, Inc. (b)		5,000		4,676,850
Teleflex, Inc.		45,000		9,349,200
West Pharmaceutical Services, Inc.		24,000		2,268,480
				44,966,690
Health Care – Services — 3.4%
Acadia Healthcare Co., Inc. (b) (c)		41,862		2,067,146
Envision Healthcare Corp. (b)		94,000		5,890,980
MEDNAX, Inc. (b)		85,000		5,131,450
Quintiles IMS Holdings, Inc. (b)		29,000		2,595,500
				15,685,076
Pharmaceuticals — 2.7%
Alkermes PLC (b)		89,000		5,159,330
Catalent, Inc. (b)		98,000		3,439,800
TESARO, Inc. (b) (c)		6,000		839,160
Zoetis, Inc.		49,000		3,056,620
				12,494,910
				135,714,320
Energy — 0.9%
Oil & Gas — 0.9%
ARC Resources Ltd. (c)		64,000		837,014
Centennial Resource Development, Inc. (a) (b)		19,204		303,807
Centennial Resource Development, Inc. Class A (b) (c)		41,796		661,213
Centennial Resource Development, Inc. Class B (a) (b)		17,000		255,493
Concho Resources, Inc. (b)		18,000		2,187,540
				4,245,067
Financial — 8.4%
Banks — 0.2%
Webster Financial Corp.		19,000		992,180
Diversified Financial Services — 4.8%
CBOE Holdings, Inc.		71,000		6,489,400
FNF Group		178,000		7,979,740
SLM Corp. (b)		140,000		1,610,000
TD Ameritrade Holding Corp.		134,000		5,760,660
				21,839,800
Insurance — 3.2%
The Progressive Corp.		125,000		5,511,250
Willis Towers Watson PLC		64,000		9,309,440
				14,820,690

	Number of Shares		Value
Real Estate Investment Trusts (REITS) — 0.2%
SBA Communications Corp. (b)		7,000	$	944,300
				38,596,970
Industrial — 20.6%
Aerospace & Defense — 2.1%
Harris Corp.		49,000		5,344,920
Rockwell Collins, Inc.		41,000		4,308,280
				9,653,200
Building Materials — 0.7%
Fortune Brands Home & Security, Inc.		6,000		391,440
Martin Marietta Materials, Inc.		12,000		2,670,960
				3,062,400
Electrical Components & Equipment — 0.5%
Acuity Brands, Inc.		10,000		2,032,800
Electronics — 6.4%
Agilent Technologies, Inc.		114,000		6,761,340
Allegion PLC		49,000		3,974,880
Fortive Corp.		61,000		3,864,350
Keysight Technologies, Inc. (b)		163,000		6,345,590
Mettler-Toledo International, Inc. (b)		2,000		1,177,080
National Instruments Corp.		16,000		643,520
Sensata Technologies Holding NV (b) (c)		152,000		6,493,440
				29,260,200
Environmental Controls — 1.2%
Waste Connections, Inc.		85,000		5,475,700
Machinery – Construction & Mining — 0.0%
BWX Technologies, Inc.		3,079		150,101
Machinery – Diversified — 4.8%
Cognex Corp.		11,000		933,900
Gardner Denver Holdings, Inc. (b)		42,000		907,620
IDEX Corp.		68,000		7,684,680
The Middleby Corp. (b)		12,446		1,512,314
Roper Technologies, Inc.		33,000		7,640,490
Xylem, Inc.		61,000		3,381,230
				22,060,234
Miscellaneous – Manufacturing — 2.3%
Colfax Corp. (b)		37,000		1,456,690
Textron, Inc.		193,000		9,090,300
				10,546,990
Packaging & Containers — 1.4%
Ardagh Group SA		9,000		203,490
Ball Corp.		145,000		6,120,450
				6,323,940
Transportation — 1.2%
J.B. Hunt Transport Services, Inc.		21,000		1,918,980
Kansas City Southern		28,000		2,930,200

The accompanying notes are an integral part of the financial statements.

65

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

	Number of Shares		Value
Old Dominion Freight Line, Inc.		8,000	$	761,920
				5,611,100
				94,176,665
Technology — 12.5%
Computers — 0.5%
CSRA, Inc.		77,764		2,469,007
Semiconductors — 3.8%
KLA-Tencor Corp.		26,000		2,379,260
Marvell Technology Group Ltd.		118,000		1,949,360
Microchip Technology, Inc.		98,000		7,563,640
Microsemi Corp. (b)		15,600		730,080
NXP Semiconductor NV (b)		4,000		437,800
Xilinx, Inc.		65,000		4,180,800
				17,240,940
Software — 8.2%
athenahealth, Inc. (b) (c)		7,000		983,850
Atlassian Corp. PLC Class A (b)		57,000		2,005,260
Black Knight Financial Services, Inc. Class A (b) (c)		12,000		491,400
Electronic Arts, Inc. (b)		31,000		3,277,320
Fidelity National Information Services, Inc.		28,000		2,391,200
Fiserv, Inc. (b)		65,000		7,952,100
Guidewire Software, Inc. (b)		18,000		1,236,780
MSCI, Inc.		27,000		2,780,730
Red Hat, Inc. (b)		57,000		5,457,750
ServiceNow, Inc. (b)		8,000		848,000
Splunk, Inc. (b)		36,000		2,048,040
SS&C Technologies Holdings, Inc		64,000		2,458,240
Tableau Software, Inc. Class A (b)		30,000		1,838,100
Veeva Systems, Inc. Class A (b)		20,000		1,226,200
Workday, Inc. Class A (b)		28,000		2,716,000
				37,710,970
				57,420,917
TOTAL COMMON STOCK (Cost $296,058,517)				427,043,560
PREFERRED STOCK — 0.6%
Communications — 0.2%
Internet — 0.2%
Dropbox, Inc. Series A (a) (b)		11,190		126,223
Dropbox, Inc. Series A 1 (a) (b)		54,965		620,005
				746,228
Consumer, Non-cyclical — 0.4%
Commercial Services — 0.4%
WeWork Companies, Inc. Series D 1 (a) (b)		22,197		1,150,027
WeWork Companies, Inc. Series D 2 (a) (b)		17,440		903,566
				2,053,593

	Number of Shares		Value
TOTAL PREFERRED STOCK (Cost $1,258,645)			$	2,799,821
TOTAL EQUITIES (Cost $297,317,162)				429,843,381
MUTUAL FUNDS — 6.1%
Diversified Financial Services — 6.1%
State Street Navigator Securities Lending Prime Portfolio (d)		20,133,473		20,133,473
T. Rowe Price Government Reserve Investment Fund		8,005,734		8,005,734
				28,139,207
TOTAL MUTUAL FUNDS (Cost $28,139,207)				28,139,207
TOTAL LONG-TERM INVESTMENTS (Cost $325,456,369)				457,982,588
	Principal Amount
SHORT-TERM INVESTMENTS — 4.5%
Repurchase Agreement — 4.5%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (e)	$	20,599,977		20,599,977
TOTAL SHORT-TERM INVESTMENTS (Cost $20,599,977)				20,599,977
TOTAL INVESTMENTS — 104.4% (Cost $346,056,346) (f)				478,582,565
Other Assets/(Liabilities) — (4.4)%				(20,332,824	)
NET ASSETS — 100.0%			$	458,249,741

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2017, these securities amounted to a value of $4,087,614 or 0.89% of net assets.

(b) Non-income producing security.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2017, was $19,641,695 or 4.29% of net assets. Total securities on loan may not correspond with the amounts identified in the Portfolio of Investments because pending sales may be in the process of recall from the brokers. (Note 2).

(d) Represents investment of security lending collateral. (Note 2).

The accompanying notes are an integral part of the financial statements.

66

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

Notes to Portfolio of Investments (continued)

(e) Maturity value of $20,600,062. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $21,016,347.

(f) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

67

MML Mid Cap Value Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 94.9%
COMMON STOCK — 94.9%
Communications — 1.2%
Telecommunications — 1.2%
Level 3 Communications, Inc. (a)		95,557	$	5,666,530
Consumer, Cyclical — 6.6%
Apparel — 0.4%
Ralph Lauren Corp.		26,183		1,932,305
Auto Manufacturers — 1.3%
Honda Motor Co. Ltd. Sponsored ADR		171,598		4,700,069
PACCAR, Inc.		25,050		1,654,302
				6,354,371
Auto Parts & Equipment — 0.8%
Delphi Automotive PLC		41,780		3,662,017
Home Builders — 0.8%
PulteGroup, Inc.		156,507		3,839,117
Leisure Time — 0.8%
Carnival Corp.		58,266		3,820,502
Retail — 1.8%
Advance Auto Parts, Inc.		43,446		5,065,369
Target Corp.		70,441		3,683,360
				8,748,729
Toys, Games & Hobbies — 0.7%
Mattel, Inc.		143,896		3,098,081
				31,455,122
Consumer, Non-cyclical — 16.1%
Foods — 6.4%
Conagra Brands, Inc.		211,055		7,547,327
General Mills, Inc.		76,949		4,262,975
The J.M. Smucker Co.		21,142		2,501,733
Kellogg Co.		60,205		4,181,839
Lamb Weston Holdings, Inc.		33,113		1,458,296
Mondelez International, Inc. Class A		147,191		6,357,179
Sysco Corp.		86,806		4,368,946
				30,678,295
Health Care – Products — 4.1%
Abbott Laboratories		55,486		2,697,175
Baxter International, Inc.		43,930		2,659,522
STERIS PLC		42,746		3,483,799
Zimmer Biomet Holdings, Inc.		82,063		10,536,889
				19,377,385
Health Care – Services — 3.0%
HCA Healthcare, Inc. (a)		38,890		3,391,208
LifePoint Health, Inc. (a)		94,234		6,327,813
Quest Diagnostics, Inc.		40,921		4,548,779
				14,267,800

	Number of Shares		Value
Pharmaceuticals — 2.6%
Cardinal Health, Inc.		57,880	$	4,510,010
Express Scripts Holding Co. (a)		64,357		4,108,551
McKesson Corp.		21,560		3,547,482
				12,166,043
				76,489,523
Energy — 13.0%
Oil & Gas — 9.6%
Anadarko Petroleum Corp.		103,423		4,689,199
Cimarex Energy Co.		13,358		1,255,786
Devon Energy Corp.		110,934		3,546,560
EQT Corp.		145,783		8,541,426
Helmerich & Payne, Inc.		54,421		2,957,237
Imperial Oil Ltd.		273,996		7,986,620
Marathon Petroleum Corp.		91,226		4,773,856
Noble Energy, Inc.		212,957		6,026,683
Occidental Petroleum Corp.		98,116		5,874,205
				45,651,572
Oil & Gas Services — 3.0%
Baker Hughes, Inc.		127,602		6,955,585
Halliburton Co.		39,053		1,667,954
National Oilwell Varco, Inc.		159,265		5,246,189
				13,869,728
Pipelines — 0.4%
Spectra Energy Partners LP (b)		45,703		1,960,659
				61,481,959
Financial — 26.8%
Banks — 10.8%
Bank of Hawaii Corp.		27,954		2,319,343
BB&T Corp.		142,189		6,456,802
Comerica, Inc.		22,544		1,651,122
Commerce Bancshares, Inc.		84,966		4,828,618
M&T Bank Corp.		33,446		5,416,580
Northern Trust Corp.		154,083		14,978,408
The PNC Financial Services Group, Inc.		34,280		4,280,544
State Street Corp.		37,746		3,386,949
SunTrust Banks, Inc.		41,321		2,343,727
UMB Financial Corp.		23,602		1,766,846
Westamerica Bancorp.		70,516		3,951,717
				51,380,656
Diversified Financial Services — 3.9%
Ameriprise Financial, Inc.		51,683		6,578,729
Invesco Ltd.		222,095		7,815,523
T. Rowe Price Group, Inc.		58,104		4,311,898
				18,706,150
Insurance — 6.2%
Aflac, Inc.		33,048		2,567,169

The accompanying notes are an integral part of the financial statements.

68

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

	Number of Shares		Value
Arthur J Gallagher & Co.		54,011	$	3,092,130
Brown & Brown, Inc.		60,867		2,621,542
Chubb Ltd.		41,277		6,000,850
ProAssurance Corp.		38,173		2,320,918
Reinsurance Group of America, Inc.		34,229		4,394,661
Torchmark Corp.		21,147		1,617,745
The Travelers Cos., Inc.		15,236		1,927,811
Unum Group		103,009		4,803,310
				29,346,136
Real Estate Investment Trusts (REITS) — 5.0%
American Tower Corp.		32,751		4,333,612
Boston Properties, Inc.		8,189		1,007,411
Empire State Realty Trust, Inc. Class A		91,683		1,904,256
MGM Growth Properties LLC Class A		95,454		2,786,302
Piedmont Office Realty Trust, Inc. Class A		186,985		3,941,644
Weyerhaeuser Co.		291,591		9,768,298
				23,741,523
Savings & Loans — 0.9%
Capitol Federal Financial, Inc.		291,998		4,149,292
				127,323,757
Industrial — 17.8%
Building Materials — 3.0%
Johnson Controls International PLC		323,066		14,008,142
Electrical Components & Equipment — 2.1%
Emerson Electric Co.		71,752		4,277,854
Hubbell, Inc.		52,377		5,927,505
				10,205,359
Electronics — 3.2%
Keysight Technologies, Inc. (a)		154,861		6,028,739
Koninklijke Philips NV		128,642		4,579,201
TE Connectivity Ltd.		59,619		4,690,823
				15,298,763
Environmental Controls — 0.8%
Republic Services, Inc.		60,697		3,868,220
Machinery – Diversified — 1.3%
Cummins, Inc.		25,759		4,178,625
Rockwell Automation, Inc.		13,579		2,199,255
				6,377,880
Miscellaneous – Manufacturing — 3.3%
Ingersoll-Rand PLC		68,579		6,267,435
ITT, Inc.		13,782		553,761
Parker-Hannifin Corp.		17,262		2,758,813
Textron, Inc.		125,417		5,907,140
				15,487,149
Packaging & Containers — 3.0%
Bemis Co., Inc.		92,015		4,255,694

	Number of Shares		Value
Graphic Packaging Holding Co.		17,125	$	235,982
Sonoco Products Co.		78,349		4,028,706
WestRock Co.		97,467		5,522,480
				14,042,862
Transportation — 1.1%
Heartland Express, Inc.		254,684		5,302,521
				84,590,896
Technology — 4.6%
Semiconductors — 4.6%
Applied Materials, Inc.		135,165		5,583,666
Lam Research Corp.		36,475		5,158,659
Maxim Integrated Products, Inc.		139,940		6,283,306
Teradyne, Inc.		166,960		5,013,809
				22,039,440
Utilities — 8.8%
Electric — 7.3%
Ameren Corp.		61,776		3,377,294
Edison International		86,577		6,769,456
Eversource Energy		35,080		2,129,707
NorthWestern Corp.		49,491		3,019,941
PG&E Corp.		106,495		7,068,073
Pinnacle West Capital Corp.		41,092		3,499,395
Westar Energy, Inc.		38,867		2,060,728
Xcel Energy, Inc.		148,814		6,827,586
				34,752,180
Gas — 1.5%
Atmos Energy Corp.		36,697		3,044,016
Spire, Inc.		53,355		3,721,511
				6,765,527
				41,517,707
TOTAL COMMON STOCK (Cost $391,418,320)				450,564,934
TOTAL EQUITIES (Cost $391,418,320)				450,564,934
MUTUAL FUNDS — 2.5%
Diversified Financial Services — 2.5%
iShares Russell Mid-Cap Value ETF		143,089		12,032,354
TOTAL MUTUAL FUNDS (Cost $11,269,149)				12,032,354
TOTAL LONG-TERM INVESTMENTS (Cost $402,687,469)				462,597,288

The accompanying notes are an integral part of the financial statements.

69

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

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 2.9%
Repurchase Agreement — 2.9%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (c)	$	13,523,450	$	13,523,450
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		27,991		27,991
TOTAL SHORT-TERM INVESTMENTS (Cost $13,551,441)				13,551,441
TOTAL INVESTMENTS — 100.3% (Cost $416,238,910) (d)				476,148,729
Other Assets/(Liabilities) — (0.3)%				(1,433,768	)
NET ASSETS — 100.0%			$	474,714,961

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

ETF Exchange-Traded Fund

(a) Non-income producing security.

(b) Security is a Master Limited Partnership.

(c) Maturity value of $13,523,507. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $13,797,379.

(d) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

70

MML Small Cap Growth Equity Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.7%
COMMON STOCK — 97.1%
Basic Materials — 3.1%
Chemicals — 3.1%
Ferro Corp. (a)		65,350	$	1,195,251
Ingevity Corp. (a)		12,833		736,614
Methanex Corp.		22,960		1,011,388
Minerals Technologies, Inc.		13,893		1,016,968
Platform Specialty Products Corp. (a)		116,284		1,474,481
PolyOne Corp.		29,417		1,139,615
				6,574,317
Communications — 6.8%
Internet — 3.6%
Dropbox, Inc. Class B (b)		10,017		112,992
GoDaddy, Inc. Class A (a)		25,912		1,099,187
Mimecast Ltd. (a)		48,018		1,285,922
Proofpoint, Inc. (a) (c)		8,787		762,975
The Trade Desk, Inc. Class A (a)		21,164		1,060,528
Veracode, Inc. (Escrow Shares) (a) (b)		10,688		43,500
Wayfair, Inc. Class A (a)		17,372		1,335,559
Wix.com Ltd. (a)		9,449		657,651
Zendesk, Inc. (a)		16,933		470,399
Zillow Group, Inc. Class C (a)		16,035		785,875
				7,614,588
Media — 0.6%
The New York Times Co. Class A		67,563		1,195,865
Telecommunications — 2.6%
Acacia Communications, Inc. (a) (c)		12,700		526,669
Arista Networks, Inc. (a) (c)		6,893		1,032,503
Ciena Corp. (a)		46,646		1,167,083
Oclaro, Inc. (a) (c)		63,600		594,024
Quantenna Communications, Inc. (a) (c)		41,056		780,064
Vonage Holdings Corp. (a)		207,836		1,359,247
				5,459,590
				14,270,043
Consumer, Cyclical — 13.5%
Airlines — 0.8%
Spirit Airlines, Inc. (a)		31,567		1,630,436
Apparel — 2.7%
Carter’s, Inc.		9,800		871,710
Deckers Outdoor Corp. (a)		17,841		1,217,826
Oxford Industries, Inc.		19,575		1,223,242
Steven Madden Ltd. (a)		22,701		906,905
Wolverine World Wide, Inc.		51,091		1,431,059
				5,650,742
Auto Manufacturers — 0.4%
Wabash National Corp. (c)		38,371		843,395

	Number of Shares		Value
Auto Parts & Equipment — 0.8%
Cooper Tire & Rubber Co. (c)		17,300	$	624,530
Tenneco, Inc.		18,516		1,070,780
				1,695,310
Distribution & Wholesale — 0.4%
Beacon Roofing Supply, Inc. (a)		15,594		764,106
Entertainment — 1.3%
Cinemark Holdings, Inc.		19,095		741,841
Marriott Vacations Worldwide Corp.		12,010		1,414,177
National CineMedia, Inc.		64,536		478,857
				2,634,875
Home Builders — 0.3%
TRI Pointe Group, Inc. (a)		55,200		728,088
Home Furnishing — 0.3%
iRobot Corp. (a) (c)		8,287		697,268
Leisure Time — 2.0%
Acushnet Holdings Corp. (c)		47,579		943,967
ClubCorp Holdings, Inc.		28,886		378,407
Lindblad Expeditions Holdings, Inc. (a)		100,855		1,058,977
Planet Fitness, Inc. Class A		75,984		1,773,467
				4,154,818
Retail — 4.5%
Bloomin’ Brands, Inc.		54,869		1,164,869
The Cheesecake Factory, Inc.		8,971		451,241
Chico’s FAS, Inc.		109,470		1,031,207
Dave & Buster’s Entertainment, Inc. (a)		12,290		817,408
FirstCash, Inc.		23,146		1,349,412
Five Below, Inc. (a)		8,346		412,042
Kate Spade & Co. (a)		44,639		825,375
La-Z-Boy, Inc.		30,313		985,173
Nu Skin Enterprises, Inc. Class A		20,727		1,302,485
Wingstop, Inc. (c)		34,170		1,055,853
				9,395,065
				28,194,103
Consumer, Non-cyclical — 22.3%
Beverages — 0.4%
MGP Ingredients, Inc. (c)		16,270		832,536
Biotechnology — 5.2%
Aduro Biotech, Inc. (a) (c)		47,600		542,640
Alder Biopharmaceuticals, Inc. (a) (c)		27,127		310,604
Bluebird Bio, Inc. (a) (c)		13,774		1,446,959
Blueprint Medicines Corp. (a)		27,017		1,368,951
Dermira, Inc. (a) (c)		38,966		1,135,469
Exact Sciences Corp. (a)		29,554		1,045,325
Five Prime Therapeutics, Inc. (a)		20,439		615,418
Ionis Pharmaceuticals, Inc. (a)		14,920		758,980

The accompanying notes are an integral part of the financial statements.

71

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

	Number of Shares		Value
Momenta Pharmaceuticals, Inc. (a)		61,883	$	1,045,823
Otonomy, Inc. (a)		29,293		552,173
Sage Therapeutics, Inc. (a)		6,118		487,238
Spark Therapeutics, Inc. (a) (c)		7,561		451,694
Ultragenyx Pharmaceutical, Inc. (a) (c)		18,308		1,137,110
				10,898,384
Commercial Services — 3.3%
The Brink’s Co.		20,174		1,351,658
Cardtronics PLC Class A (a)		26,823		881,404
CoStar Group, Inc. (a)		5,831		1,537,051
HealthEquity, Inc. (a)		14,842		739,577
Paylocity Holding Corp. (a)		20,275		916,024
TriNet Group, Inc. (a)		36,959		1,210,038
WEX, Inc. (a)		2,529		263,699
				6,899,451
Foods — 2.1%
Calavo Growers, Inc. (c)		14,465		998,808
Performance Food Group Co. (a)		82,343		2,256,198
Sanderson Farms, Inc. (c)		9,421		1,089,539
				4,344,545
Health Care – Products — 5.1%
Align Technology, Inc. (a)		7,269		1,091,222
Glaukos Corp. (a) (c)		13,600		563,992
Globus Medical, Inc. Class A (a)		30,297		1,004,346
Haemonetics Corp. (a)		26,979		1,065,401
Inogen, Inc. (a)		9,701		925,669
Insulet Corp. (a)		69,815		3,582,208
MiMedx Group, Inc. (a) (c)		123,855		1,854,109
OraSure Technologies, Inc. (a)		33,700		581,662
				10,668,609
Health Care – Services — 3.2%
Acadia Healthcare Co., Inc. (a) (c)		36,417		1,798,271
Kindred Healthcare, Inc.		130,538		1,520,768
LifePoint Health, Inc. (a)		19,612		1,316,946
Molina Healthcare, Inc. (a)		21,171		1,464,610
Teladoc, Inc. (a) (c)		21,003		728,804
				6,829,399
Pharmaceuticals — 3.0%
Aerie Pharmaceuticals, Inc. (a)		24,026		1,262,566
Amicus Therapeutics, Inc. (a) (c)		41,840		421,329
Dexcom, Inc. (a) (c)		9,186		671,956
Galapagos NV Sponsored ADR (a)		12,638		967,060
Global Blood Therapeutics, Inc. (a) (c)		21,942		600,114
Ironwood Pharmaceuticals, Inc. (a) (c)		25,839		487,840
Portola Pharmaceuticals, Inc. (a)		15,926		894,563
TESARO, Inc. (a) (c)		6,467		904,475
				6,209,903
				46,682,827

	Number of Shares		Value
Energy — 3.1%
Energy – Alternate Sources — 0.9%
First Solar, Inc. (a) (c)		19,202	$	765,776
Pattern Energy Group, Inc.		48,313		1,151,782
				1,917,558
Oil & Gas — 1.9%
Callon Petroleum Co. (a) (c)		76,682		813,596
Centennial Resource Development, Inc. Class A (a) (c)		78,405		1,240,367
Delek US Holdings, Inc.		43,888		1,160,399
SRC Energy, Inc. (a) (c)		113,752		765,551
				3,979,913
Oil & Gas Services — 0.3%
Forum Energy Technologies, Inc. (a)		33,534		523,130
				6,420,601
Financial — 20.0%
Banks — 5.8%
Ameris Bancorp		23,344		1,125,181
F.N.B. Corp.		91,215		1,291,604
FCB Financial Holdings, Inc. Class A (a)		27,461		1,311,263
MB Financial, Inc.		63,836		2,811,338
South State Corp.		11,014		943,900
State Bank Financial Corp.		39,894		1,081,925
Texas Capital Bancshares, Inc. (a)		13,746		1,063,940
Western Alliance Bancorp (a)		50,101		2,464,969
				12,094,120
Diversified Financial Services — 2.7%
Air Lease Corp.		28,735		1,073,539
Blackhawk Network Holdings, Inc. (a)		29,165		1,271,594
Financial Engines, Inc. (c)		15,653		572,900
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		83,249		1,903,905
WageWorks, Inc. (a)		10,552		709,094
				5,531,032
Insurance — 2.9%
Assured Guaranty Ltd.		26,315		1,098,388
eHealth, Inc. (a)		47,890		900,332
Horace Mann Educators Corp.		18,867		713,173
James River Group Holdings Ltd.		12,200		484,706
Kemper Corp.		23,629		912,079
MBIA, Inc. (a)		97,809		922,339
MGIC Investment Corp. (a)		100,149		1,121,669
				6,152,686
Private Equity — 1.0%
Kennedy-Wilson Holdings, Inc. (c)		107,552		2,048,866
Real Estate — 0.3%
Five Point Holdings LLC Class A (a)		46,966		693,218

The accompanying notes are an integral part of the financial statements.

72

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

	Number of Shares		Value
Real Estate Investment Trusts (REITS) — 5.3%
CoreSite Realty Corp.		11,098	$	1,148,976
LaSalle Hotel Properties		80,524		2,399,615
Life Storage, Inc.		14,492		1,073,857
MFA Financial, Inc.		125,633		1,054,061
Outfront Media, Inc. (c)		41,495		959,364
Potlatch Corp.		18,400		840,880
PS Business Parks, Inc.		9,974		1,320,458
Redwood Trust, Inc.		65,068		1,108,759
Rexford Industrial Realty, Inc.		44,424		1,218,995
				11,124,965
Savings & Loans — 2.0%
Banc of California, Inc. (c)		25,541		549,132
Pacific Premier Bancorp, Inc. (a)		21,522		794,162
Sterling Bancorp		123,398		2,869,003
				4,212,297
				41,857,184
Industrial — 15.3%
Aerospace & Defense — 1.1%
Kaman Corp.		19,428		968,875
Teledyne Technologies, Inc. (a)		9,668		1,234,120
				2,202,995
Building Materials — 1.5%
JELD-WEN Holding, Inc. (a)		30,863		1,001,813
Masonite International Corp. (a)		27,683		2,090,066
				3,091,879
Electronics — 1.2%
II-VI, Inc. (a)		21,930		752,199
Itron, Inc. (a)		12,827		869,029
Watts Water Technologies, Inc. Class A		15,378		971,890
				2,593,118
Environmental Controls — 1.7%
Casella Waste Systems, Inc. Class A (a)		72,248		1,185,590
Clean Harbors, Inc. (a)		42,917		2,396,056
				3,581,646
Hand & Machine Tools — 1.1%
Milacron Holdings Corp. (a)		63,609		1,118,882
Regal Beloit Corp.		15,503		1,264,270
				2,383,152
Machinery – Diversified — 1.8%
Altra Industrial Motion Corp.		31,132		1,239,054
The Middleby Corp. (a)		7,264		882,649
Zebra Technologies Corp. Class A (a)		15,651		1,573,238
				3,694,941
Metal Fabricate & Hardware — 2.0%
Advanced Drainage Systems, Inc.		88,539		1,779,634
Rexnord Corp. (a)		53,856		1,252,152

	Number of Shares		Value
The Timken Co.		25,471	$	1,178,034
				4,209,820
Miscellaneous – Manufacturing — 0.5%
John Bean Technologies Corp.		10,841		1,062,418
Packaging & Containers — 0.8%
Graphic Packaging Holding Co.		61,443		846,684
KapStone Paper and Packaging Corp.		36,665		756,399
				1,603,083
Transportation — 3.0%
Kirby Corp. (a)		18,642		1,246,217
Knight Transportation, Inc.		48,837		1,809,411
Swift Transportation Co. (a) (c)		86,418		2,290,077
Werner Enterprises, Inc.		31,800		933,330
				6,279,035
Trucking & Leasing — 0.6%
GATX Corp. (c)		18,071		1,161,423
				31,863,510
Technology — 12.0%
Computers — 0.8%
EPAM Systems, Inc. (a)		12,351		1,038,595
VeriFone Systems, Inc. (a)		35,137		635,980
				1,674,575
Semiconductors — 4.4%
Advanced Micro Devices, Inc. (a) (c)		31,828		397,213
Cavium, Inc. (a)		28,779		1,788,039
Entegris, Inc. (a)		81,894		1,797,573
MACOM Technology Solutions Holdings, Inc. (a) (c)		45,157		2,518,406
MaxLinear, Inc. Class A (a)		13,430		374,563
MKS Instruments, Inc.		8,816		593,317
Tower Semiconductor Ltd. (a)		72,723		1,734,444
				9,203,555
Software — 6.8%
2U, Inc. (a) (c)		54,250		2,545,411
Aspen Technology, Inc. (a)		7,781		429,978
BroadSoft, Inc. (a) (c)		35,507		1,528,576
Callidus Software, Inc. (a)		51,119		1,237,080
Cloudera, Inc. (a) (b)		12,068		191,899
Coupa Software, Inc. (a)		5,653		163,824
Docusign, Inc. (Escrow Shares) (a) (b)		2,601		-
Fair Isaac Corp.		13,246		1,846,625
Five9, Inc. (a)		27,615		594,275
Guidewire Software, Inc. (a)		10,651		731,830
HubSpot, Inc. (a) (c)		37,773		2,483,575
Telogis, Inc. (b)		80,369		255,573
The Ultimate Software Group, Inc. (a) (c)		4,425		929,516

The accompanying notes are an integral part of the financial statements.

73

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

	Number of Shares		Value
Veeva Systems, Inc. Class A (a)		20,201	$	1,238,523
				14,176,685
				25,054,815
Utilities — 1.0%
Electric — 1.0%
8Point3 Energy Partners LP		60,701		918,405
Black Hills Corp. (c)		16,357		1,103,607
				2,022,012
TOTAL COMMON STOCK (Cost $172,847,447)				202,939,412
PREFERRED STOCK — 0.6%
Communications — 0.3%
Internet — 0.3%
Draftkings, Inc. Series D (a) (b)		14,868		34,048
Draftkings, Inc. Series D 1 (a) (b)		28,744		88,532
The Honest Company, Inc. Series D (a) (b)		4,027		143,522
Zuora, Inc. Series F (a) (b)		69,937		300,030
				566,132
Technology — 0.3%
Software — 0.3%
MarkLogic Corp. Series F (a) (b)		22,966		245,736
Telogis, Inc. Series A (a) (b)		109,450		481,843
				727,579
TOTAL PREFERRED STOCK (Cost $1,258,032)				1,293,711
TOTAL EQUITIES (Cost $174,105,479)				204,233,123
MUTUAL FUNDS — 22.4%
Diversified Financial Services — 22.4%
iShares Russell 2000 ETF		18,802		2,649,578
iShares Russell 2000 Growth Index Fund (c)		12,556		2,119,076
State Street Navigator Securities Lending Prime Portfolio (d)		41,975,690		41,975,690
				46,744,344
TOTAL MUTUAL FUNDS (Cost $46,634,891)				46,744,344
TOTAL LONG-TERM INVESTMENTS (Cost $220,740,370)				250,977,467

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 1.3%
Repurchase Agreement — 1.3%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (e)	$	2,697,827	$	2,697,827
TOTAL SHORT-TERM INVESTMENTS (Cost $2,697,827)				2,697,827
TOTAL INVESTMENTS — 121.4% (Cost $223,438,197) (f)				253,675,294
Other Assets/(Liabilities) — (21.4)%				(44,726,769	)
NET ASSETS — 100.0%			$	208,948,525

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

ETF Exchange-Traded Fund

(a) Non-income producing security.

(b) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2017, these securities amounted to a value of $1,897,675 or 0.91% of net assets.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2017, was $40,957,338 or 19.60% of net assets. Total securities on loan may not correspond with the amounts identified in the Portfolio of Investments because pending sales may be in the process of recall from the brokers. (Note 2).

(d) Represents investment of security lending collateral. (Note 2).

(e) Maturity value of $2,697,839. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $2,755,409.

(f) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

74

MML Small Company Value Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.1%
COMMON STOCK — 98.1%
Basic Materials — 4.2%
Chemicals — 2.3%
American Vanguard Corp.		21,600	$	372,600
Innospec, Inc.		6,183		405,296
KMG Chemicals, Inc.		16,000		778,720
Minerals Technologies, Inc.		11,800		863,760
				2,420,376
Forest Products & Paper — 0.6%
Clearwater Paper Corp. (a)		13,100		612,425
Iron & Steel — 1.1%
Carpenter Technology Corp.		18,200		681,226
Reliance Steel & Aluminum Co.		5,800		422,298
				1,103,524
Mining — 0.2%
New Gold, Inc. (a) (b)		61,500		195,570
				4,331,895
Communications — 1.8%
Internet — 0.3%
Rightside Group Ltd. (a)		31,640		336,017
Media — 1.0%
Cable One, Inc.		900		639,810
Scholastic Corp.		8,200		357,438
				997,248
Telecommunications — 0.5%
Harmonic, Inc. (a) (b)		98,300		516,075
				1,849,340
Consumer, Cyclical — 9.3%
Apparel — 0.8%
Crocs, Inc. (a)		18,000		138,780
Steven Madden Ltd. (a)		16,100		643,195
				781,975
Auto Manufacturers — 0.2%
Blue Bird Corp. (a) (b)		15,000		255,000
Auto Parts & Equipment — 1.0%
Dorman Products, Inc. (a)		12,200		1,009,794
Distribution & Wholesale — 1.9%
Beacon Roofing Supply, Inc. (a)		16,900		828,100
Pool Corp.		9,600		1,128,672
				1,956,772
Home Builders — 0.8%
Cavco Industries, Inc. (a)		6,000		777,900
Home Furnishing — 0.3%
Ethan Allen Interiors, Inc.		11,100		358,530

	Number of Shares		Value
Leisure Time — 0.9%
LCI Industries		9,300	$	952,320
Lodging — 0.6%
ILG, Inc.		22,700		624,023
Retail — 2.3%
Fred’s, Inc. Class A (b)		15,200		140,296
Lumber Liquidators Holdings, Inc. (a) (b)		24,000		601,440
Party City Holdco, Inc. (a) (b)		27,555		431,236
PriceSmart, Inc.		7,300		639,480
Red Robin Gourmet Burgers, Inc. (a)		6,800		443,700
Sportsman’s Warehouse Holdings, Inc. (a) (b)		31,033		167,578
				2,423,730
Textiles — 0.5%
Culp, Inc.		15,700		510,250
				9,650,294
Consumer, Non-cyclical — 15.1%
Agriculture — 0.3%
Vector Group Ltd. (b)		13,779		293,768
Commercial Services — 4.9%
Aaron’s, Inc.		26,700		1,038,630
American Public Education, Inc. (a)		16,200		383,130
Capella Education Co.		9,700		830,320
FTI Consulting, Inc. (a)		11,600		405,536
Green Dot Corp. Class A (a)		23,580		908,538
Matthews International Corp. Class A		5,700		349,125
McGrath RentCorp		16,099		557,508
Navigant Consulting, Inc. (a)		31,900		630,344
				5,103,131
Foods — 2.4%
Nomad Foods Ltd. (a)		68,200		962,302
Pinnacle Foods, Inc.		9,100		540,540
Post Holdings, Inc. (a)		6,400		496,960
SpartanNash Co.		18,500		480,260
				2,480,062
Health Care – Products — 5.1%
Analogic Corp.		5,300		385,045
Atrion Corp.		2,050		1,318,765
Haemonetics Corp. (a)		19,000		750,310
Halyard Health, Inc. (a)		21,700		852,376
Quidel Corp. (a)		24,500		664,930
West Pharmaceutical Services, Inc.		13,800		1,304,376
				5,275,802
Health Care – Services — 2.0%
The Ensign Group, Inc.		10,930		237,946
National HealthCare Corp.		3,600		252,504
Select Medical Holdings Corp. (a)		30,600		469,710

The accompanying notes are an integral part of the financial statements.

75

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

	Number of Shares		Value
Triple-S Management Corp. Class B (a)		12,900	$	218,139
WellCare Health Plans, Inc. (a)		4,700		843,932
				2,022,231
Household Products & Wares — 0.4%
CSS Industries, Inc.		14,900		389,784
				15,564,778
Diversified — 0.2%
Holding Company – Diversified — 0.2%
Conyers Park Acquisition Corp. (a)		14,600		186,150
Energy — 4.4%
Oil & Gas — 2.8%
Centennial Resource Development, Inc. Class A (a) (b)		27,700		438,214
Matador Resources Co. (a) (b)		34,500		737,265
Parsley Energy, Inc. Class A (a)		17,800		493,950
Tesoro Corp.		7,221		675,886
WPX Energy, Inc. (a)		57,300		553,518
				2,898,833
Oil & Gas Services — 1.6%
Frank’s International NV (b)		33,500		277,715
Keane Group, Inc. (a) (b)		12,880		206,080
NCS Multistage Holdings, Inc. (a) (b)		2,007		50,536
Oceaneering International, Inc.		16,400		374,576
Tesco Corp. (a)		51,300		228,285
TETRA Technologies, Inc. (a)		69,800		194,742
Thermon Group Holdings, Inc. (a)		15,900		304,803
				1,636,737
				4,535,570
Financial — 35.7%
Banks — 18.1%
BankUnited, Inc.		33,600		1,132,656
CoBiz Financial, Inc.		37,300		649,020
Columbia Banking System, Inc.		28,700		1,143,695
East West Bancorp, Inc.		32,626		1,911,231
First Hawaiian, Inc.		13,442		411,594
Glacier Bancorp, Inc.		27,300		999,453
Heritage Financial Corp.		2,064		54,696
Home BancShares, Inc.		82,550		2,055,495
Hope Bancorp, Inc.		36,200		675,130
Howard Bancorp, Inc. (a)		10,485		201,836
National Bank Holdings Corp. Class A		27,300		903,903
Park Sterling Corp.		26,200		311,256
PCSB Financial Corp. (a) (b)		2,713		46,284
Pinnacle Financial Partners, Inc.		7,500		471,000
Popular, Inc.		24,500		1,021,895
Prosperity Bancshares, Inc.		18,200		1,169,168
SVB Financial Group (a)		7,850		1,379,951
Synovus Financial Corp.		10,200		451,248
Texas Capital Bancshares, Inc. (a)		10,700		828,180
Towne Bank		34,700		1,068,760

	Number of Shares		Value
Webster Financial Corp.		16,575	$	865,547
Wintrust Financial Corp.		11,900		909,636
				18,661,634
Diversified Financial Services — 1.9%
CBOE Holdings, Inc.		8,321		760,539
Houlihan Lokey, Inc.		11,326		395,277
Janus Henderson Group PLC (a) (b)		14,298		473,407
Stifel Financial Corp. (a)		7,400		340,252
				1,969,475
Insurance — 4.4%
Assured Guaranty Ltd.		15,682		654,567
Employers Holdings, Inc.		15,200		642,960
Kinsale Capital Group, Inc. (b)		10,613		395,971
ProAssurance Corp.		19,700		1,197,760
Radian Group, Inc.		50,900		832,215
Safety Insurance Group, Inc.		5,400		368,820
State Auto Financial Corp.		16,900		434,837
				4,527,130
Private Equity — 0.2%
Safeguard Scientifics, Inc. (a)		19,200		228,480
Real Estate Investment Trusts (REITS) — 8.8%
Acadia Realty Trust		23,900		664,420
American Assets Trust, Inc.		6,200		244,218
American Campus Communities, Inc.		9,900		468,270
Cedar Realty Trust, Inc.		155,700		755,145
Douglas Emmett, Inc.		14,700		561,687
EastGroup Properties, Inc.		12,100		1,013,980
First Potomac Realty Trust		60,390		670,933
Healthcare Realty Trust, Inc.		15,100		515,665
Kilroy Realty Corp.		9,000		676,350
Potlatch Corp.		16,000		731,200
PS Business Parks, Inc.		6,200		820,818
Retail Opportunity Investments Corp.		18,000		345,420
Saul Centers, Inc.		11,400		660,972
Sunstone Hotel Investors, Inc.		20,800		335,296
Washington Real Estate Investment Trust		21,000		669,900
				9,134,274
Savings & Loans — 2.3%
Beneficial Bancorp, Inc.		42,823		642,345
Meridian Bancorp, Inc.		17,500		295,750
United Financial Bancorp, Inc.		43,800		731,022
WSFS Financial Corp.		14,700		666,645
				2,335,762
				36,856,755
Industrial — 17.5%
Aerospace & Defense — 0.9%
Kaman Corp.		6,800		339,116
Triumph Group, Inc.		18,350		579,860
				918,976

The accompanying notes are an integral part of the financial statements.

76

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

	Number of Shares		Value
Building Materials — 0.5%
Universal Forest Products, Inc.		6,400	$	558,784
Electrical Components & Equipment — 4.1%
Advanced Energy Industries, Inc. (a)		10,800		698,652
Belden, Inc.		19,060		1,437,696
Energizer Holdings, Inc.		11,700		561,834
Littelfuse, Inc.		9,500		1,567,500
				4,265,682
Electronics — 4.1%
Badger Meter, Inc.		13,600		541,960
Brady Corp. Class A		13,900		471,210
ESCO Technologies, Inc.		17,200		1,025,980
Knowles Corp. (a) (b)		45,100		763,092
Methode Electronics, Inc.		13,200		543,840
SYNNEX Corp.		7,200		863,712
				4,209,794
Engineering & Construction — 0.7%
Aegion Corp. (a)		31,400		687,032
Environmental Controls — 0.4%
MSA Safety, Inc.		5,600		454,552
Machinery – Diversified — 0.6%
Applied Industrial Technologies, Inc.		10,100		596,405
Metal Fabricate & Hardware — 1.7%
CIRCOR International, Inc.		10,700		635,366
RBC Bearings, Inc. (a)		5,900		600,384
Sun Hydraulics Corp.		11,500		490,705
				1,726,455
Miscellaneous – Manufacturing — 1.5%
Colfax Corp. (a)		11,500		452,755
Hillenbrand, Inc.		10,230		369,303
Myers Industries, Inc.		43,250		776,337
				1,598,395
Transportation — 3.0%
Genesee & Wyoming, Inc. Class A (a)		10,050		687,319
Kirby Corp. (a)		6,750		451,238
Landstar System, Inc.		19,000		1,626,400
Universal Logistics Holdings, Inc.		21,400		321,000
				3,085,957
				18,102,032
Technology — 3.2%
Computers — 0.6%
CSRA, Inc.		19,700		625,475
Semiconductors — 1.4%
Brooks Automation, Inc.		25,500		553,095
Cabot Microelectronics Corp.		8,400		620,172
Rudolph Technologies, Inc. (a)		12,800		292,480
				1,465,747

	Number of Shares		Value
Software — 1.2%
Callidus Software, Inc. (a)		24,300	$	588,060
Progress Software Corp.		19,100		589,999
				1,178,059
				3,269,281
Utilities — 6.7%
Electric — 3.8%
El Paso Electric Co.		11,100		573,870
NorthWestern Corp.		14,500		884,790
NRG Energy, Inc.		30,400		523,488
PNM Resources, Inc.		33,100		1,266,075
Portland General Electric Co.		14,800		676,212
				3,924,435
Gas — 2.6%
Atmos Energy Corp.		7,200		597,240
Chesapeake Utilities Corp.		12,700		951,865
ONE Gas, Inc.		16,600		1,158,846
				2,707,951
Water — 0.3%
California Water Service Group		7,900		290,720
				6,923,106
TOTAL COMMON STOCK (Cost $72,950,496)				101,269,201
TOTAL EQUITIES (Cost $72,950,496)				101,269,201
MUTUAL FUNDS — 5.7%
Diversified Financial Services — 5.7%
State Street Navigator Securities Lending Prime Portfolio (c)		5,875,061		5,875,061
T. Rowe Price Reserve Investment Fund		1,012		1,012
				5,876,073
TOTAL MUTUAL FUNDS (Cost $5,876,073)				5,876,073
TOTAL LONG-TERM INVESTMENTS (Cost $78,826,569)				107,145,274

The accompanying notes are an integral part of the financial statements.

77

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

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 1.9%
Repurchase Agreement — 1.9%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (d)	$	2,028,391	$	2,028,391
TOTAL SHORT-TERM INVESTMENTS (Cost $2,028,391)				2,028,391
TOTAL INVESTMENTS — 105.7% (Cost $80,854,960) (e)				109,173,665
Other Assets/(Liabilities) — (5.7)%				(5,924,763	)
NET ASSETS — 100.0%			$	103,248,902

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2017, was $5,702,115 or 5.52% of net assets. Total securities on loan may not correspond with the amounts identified in the Portfolio of Investments because pending sales may be in the process of recall from the brokers. (Note 2).

(c) Represents investment of security lending collateral. (Note 2).

(d) Maturity value of $2,028,399. Collateralized by U.S. Government Agency obligations with a rate of 1.625%, maturity date of 4/30/19, and an aggregate market value, including accrued interest, of $2,070,020.

(e) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

78

MML Small/Mid Cap Value Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Number of Shares		Value
EQUITIES — 96.5%
COMMON STOCK — 96.5%
Basic Materials — 1.4%
Chemicals — 1.4%
Huntsman Corp.		72,270	$	1,867,456
Ingevity Corp. (a)		22,905		1,314,747
				3,182,203
Communications — 3.6%
Internet — 1.3%
CDW Corp.		44,400		2,776,332
Media — 0.8%
Scholastic Corp.		40,680		1,773,241
Telecommunications — 1.5%
Infinera Corp. (a)		161,960		1,728,113
NETGEAR, Inc. (a)		36,855		1,588,451
				3,316,564
				7,866,137
Consumer, Cyclical — 16.8%
Airlines — 1.2%
SkyWest, Inc.		73,040		2,563,704
Apparel — 0.7%
Crocs, Inc. (a)		196,660		1,516,248
Auto Parts & Equipment — 3.6%
Cooper-Standard Holding, Inc. (a)		13,117		1,323,112
Dana, Inc.		124,683		2,784,171
Lear Corp.		13,362		1,898,473
Tenneco, Inc.		33,471		1,935,628
				7,941,384
Distribution & Wholesale — 1.3%
Anixter International, Inc. (a)		37,290		2,916,078
Entertainment — 1.4%
Regal Entertainment Group Class A		152,600		3,122,196
Home Builders — 2.1%
CalAtlantic Group, Inc.		79,190		2,799,366
PulteGroup, Inc.		75,250		1,845,883
				4,645,249
Office Furnishings — 0.8%
Steelcase, Inc. Class A		121,270		1,697,780
Retail — 5.7%
Bloomin’ Brands, Inc.		126,160		2,678,377
Brinker International, Inc.		61,819		2,355,304
Burlington Stores, Inc. (a)		15,829		1,456,110
Caleres, Inc.		79,090		2,197,120
The Children’s Place, Inc.		14,492		1,479,633
The Michaels Cos., Inc. (a)		131,140		2,428,713
				12,595,257
				36,997,896

	Number of Shares		Value
Consumer, Non-cyclical — 11.4%
Beverages — 0.6%
Cott Corp.		90,947	$	1,313,275
Commercial Services — 4.5%
ABM Industries, Inc.		38,950		1,617,204
Booz Allen Hamilton Holding Corp.		85,530		2,783,146
Quanta Services, Inc. (a)		71,438		2,351,739
Sotheby’s (a)		58,560		3,142,915
				9,895,004
Foods — 0.7%
Ingredion, Inc.		12,894		1,537,094
Health Care – Services — 5.6%
ICON PLC (a)		33,872		3,312,343
LifePoint Health, Inc. (a)		48,430		3,252,074
Molina Healthcare, Inc. (a)		41,310		2,857,826
WellCare Health Plans, Inc. (a)		16,810		3,018,404
				12,440,647
				25,186,020
Energy — 7.4%
Oil & Gas — 5.2%
Helmerich & Payne, Inc.		32,270		1,753,552
HollyFrontier Corp.		72,590		1,994,047
Oasis Petroleum, Inc. (a)		173,310		1,395,145
QEP Resources, Inc. (a)		227,540		2,298,154
SM Energy Co.		111,660		1,845,740
SRC Energy, Inc. (a)		318,360		2,142,563
				11,429,201
Oil & Gas Services — 2.2%
Helix Energy Solutions Group, Inc. (a)		85,030		479,569
Oil States International, Inc. (a)		54,820		1,488,363
RPC, Inc.		150,450		3,040,595
				5,008,527
				16,437,728
Financial — 23.3%
Banks — 10.7%
Associated Banc-Corp.		100,347		2,528,744
Comerica, Inc.		48,245		3,533,464
Fulton Financial Corp.		128,210		2,435,990
Huntington Bancshares, Inc.		265,745		3,592,872
Synovus Financial Corp.		63,950		2,829,148
Texas Capital Bancshares, Inc. (a)		28,950		2,240,730
Webster Financial Corp.		56,473		2,949,020
Zions Bancorp		80,025		3,513,898
				23,623,866
Diversified Financial Services — 0.6%
OneMain Holdings, Inc. (a)		52,990		1,303,024

The accompanying notes are an integral part of the financial statements.

79

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

	Number of Shares		Value
Insurance — 8.1%
American Financial Group, Inc.		31,971	$	3,176,958
Essent Group Ltd. (a)		89,270		3,315,488
First American Financial Corp.		59,560		2,661,736
The Hanover Insurance Group, Inc.		15,540		1,377,310
Reinsurance Group of America, Inc.		25,160		3,230,293
Selective Insurance Group, Inc.		38,080		1,905,904
Validus Holdings Ltd.		42,730		2,220,678
				17,888,367
Real Estate Investment Trusts (REITS) — 3.9%
Education Realty Trust, Inc.		73,970		2,866,338
Empire State Realty Trust, Inc. Class A		102,006		2,118,665
Gramercy Property Trust		119,778		3,558,604
				8,543,607
				51,358,864
Industrial — 17.5%
Aerospace & Defense — 1.1%
Esterline Technologies Corp. (a)		25,110		2,380,428
Electrical Components & Equipment — 1.0%
EnerSys		30,320		2,196,684
Electronics — 2.0%
Avnet, Inc.		62,940		2,447,107
Vishay Intertechnology, Inc.		118,556		1,968,030
				4,415,137
Engineering & Construction — 2.2%
AECOM (a)		79,673		2,575,828
Tutor Perini Corp. (a)		83,510		2,400,912
				4,976,740
Hand & Machine Tools — 1.4%
Regal Beloit Corp.		37,220		3,035,291
Machinery – Construction & Mining — 2.9%
Oshkosh Corp.		44,470		3,063,093
Terex Corp.		87,540		3,282,750
				6,345,843
Machinery – Diversified — 1.3%
SPX FLOW, Inc. (a)		77,970		2,875,534
Miscellaneous – Manufacturing — 1.2%
Trinseo SA		39,740		2,730,138
Packaging & Containers — 1.5%
Graphic Packaging Holding Co.		234,420		3,230,308
Transportation — 2.9%
Atlas Air Worldwide Holdings, Inc. (a)		39,030		2,035,415
Ryder System, Inc.		29,505		2,123,770
Werner Enterprises, Inc.		81,090		2,379,991
				6,539,176
				38,725,279

	Number of Shares		Value
Technology — 11.3%
Computers — 6.2%
Amdocs Ltd.		51,808	$	3,339,544
Convergys Corp.		72,679		1,728,307
Genpact Ltd.		111,087		3,091,551
NCR Corp. (a)		77,429		3,162,200
VeriFone Systems, Inc. (a)		133,040		2,408,024
				13,729,626
Semiconductors — 3.8%
Cypress Semiconductor Corp.		225,200		3,073,980
Integrated Device Technology, Inc. (a)		84,520		2,179,771
Mellanox Technologies Ltd. (a)		29,760		1,288,608
Qorvo, Inc. (a)		31,343		1,984,639
				8,526,998
Software — 1.3%
Verint Systems, Inc. (a)		68,425		2,784,897
				25,041,521
Utilities — 3.8%
Electric — 3.3%
NorthWestern Corp.		32,660		1,992,913
PNM Resources, Inc.		75,203		2,876,515
Portland General Electric Co.		52,130		2,381,820
				7,251,248
Gas — 0.5%
Southwest Gas Holdings, Inc.		17,020		1,243,481
				8,494,729
TOTAL COMMON STOCK (Cost $178,842,933)				213,290,377
TOTAL EQUITIES (Cost $178,842,933)				213,290,377
TOTAL LONG-TERM INVESTMENTS (Cost $178,842,933)				213,290,377
	Principal Amount
SHORT-TERM INVESTMENTS — 2.1%
Repurchase Agreement — 2.1%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (b)	$	4,519,422		4,519,422
TOTAL SHORT-TERM INVESTMENTS (Cost $4,519,422)				4,519,422

The accompanying notes are an integral part of the financial statements.

80

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

	Value
TOTAL INVESTMENTS — 98.6% (Cost $183,362,355) (c)	$	217,809,799
Other Assets/(Liabilities) — 1.4%		3,131,125
NET ASSETS — 100.0%	$	220,940,924

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Maturity value of $4,519,441. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $4,610,988.

(c) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

81

MML Total Return Bond Fund – Portfolio of Investments

June 30, 2017 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 100.4%
BANK LOANS — 0.1%
Diversified Financial Services — 0.1%
AerCap Holdings N.V., A Deferred Principal 3.546% 10/06/23	$	591,000	$	592,573
TOTAL BANK LOANS (Cost $599,693)				592,573
Corporate Debt — 26.1%
Aerospace & Defense — 0.2%
United Technologies Corp. STEP 1.778% 5/04/18		1,000,000		1,001,283
Airlines — 0.6%
Continental Airlines Pass-Through Trust 7.250% 5/10/21		1,698,748		1,881,363
Northwest Airlines Pass-Through Trust 7.041% 10/01/23		379,336		435,288
				2,316,651
Auto Manufacturers — 0.5%
Ford Motor Credit Co. LLC 1.684% 9/08/17		750,000		750,187
Ford Motor Credit Co. LLC 2.145% 1/09/18		500,000		501,698
General Motors Financial Co., Inc. 2.350% 10/04/19		500,000		499,951
General Motors Financial Co., Inc. 4.750% 8/15/17		500,000		501,705
				2,253,541
Auto Parts & Equipment — 0.0%
The Goodyear Tire & Rubber Co. 4.875% 3/15/27		93,000		94,395
Banks — 9.0%
American Express Centurion Bank 6.000% 9/13/17		750,000		756,126
Bank of America Corp. 5.650% 5/01/18		500,000		515,702
Bank of America Corp. 6.000% 9/01/17		500,000		503,440
Bank of America Corp. 6.875% 4/25/18		4,950,000		5,151,114
Bank of America Corp. 6.875% 11/15/18		750,000		799,028
Bank of America Corp. 7.625% 6/01/19		1,000,000		1,102,672
Citigroup, Inc. 1.550% 8/14/17		1,350,000		1,350,105
Citigroup, Inc. 1.800% 2/05/18		1,000,000		1,000,758

	Principal Amount		Value
Citigroup, Inc. 2.050% 12/07/18	$	1,000,000	$	1,001,487
Citigroup, Inc. 6.125% 5/15/18		2,720,000		2,820,341
Discover Bank 2.000% 2/21/18		1,500,000		1,501,843
The Goldman Sachs Group, Inc. 2.375% 1/22/18		1,000,000		1,004,436
The Goldman Sachs Group, Inc. 5.950% 1/18/18		2,100,000		2,146,931
The Goldman Sachs Group, Inc. 6.150% 4/01/18		1,860,000		1,919,687
The Goldman Sachs Group, Inc. 7.500% 2/15/19		1,000,000		1,084,703
HBOS PLC (a) 6.750% 5/21/18		1,100,000		1,144,143
JP Morgan Chase & Co. 3 mo. USD LIBOR + .550%, FRN 1.706% 4/25/18		700,000		702,337
JP Morgan Chase & Co. 2.950% 10/01/26		895,000		863,765
JP Morgan Chase & Co. 3 mo. USD LIBOR + 1.380%, VRN 3.540% 5/01/28		500,000		501,514
JP Morgan Chase & Co. 6.000% 1/15/18		1,000,000		1,022,468
JP Morgan Chase Bank NA 6.000% 10/01/17		500,000		505,125
Morgan Stanley 3 mo. USD LIBOR + .800%, FRN 1.982% 2/14/20		3,395,000		3,408,919
Morgan Stanley 3 mo. USD LIBOR + 1.280%, FRN 2.436% 4/25/18		1,000,000		1,008,709
Morgan Stanley 5.500% 7/24/20		250,000		272,953
Morgan Stanley 5.950% 12/28/17		500,000		510,203
Morgan Stanley 6.625% 4/01/18		895,000		926,781
Wells Fargo & Co. 3.000% 4/22/26		475,000		463,911
Wells Fargo & Co. 3.000% 10/23/26		345,000		335,946
Wells Fargo & Co. 3.550% 9/29/25		725,000		737,105
Wells Fargo & Co. 3 mo. USD LIBOR + 1.310%, VRN 3.584% 5/22/28		1,865,000		1,884,827
Wells Fargo Bank NA 2.150% 12/06/19		1,000,000		1,004,629
				37,951,708

The accompanying notes are an integral part of the financial statements.

82

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

	Principal Amount		Value
Beverages — 0.5%
Anheuser-Busch InBev Finance, Inc. 3.650% 2/01/26	$	1,399,000	$	1,441,348
Constellation Brands, Inc. 6.000% 5/01/22		325,000		370,933
DS Services of America, Inc. (a) 10.000% 9/01/21		236,000		250,160
				2,062,441
Biotechnology — 1.0%
Amgen, Inc. 4.400% 5/01/45		500,000		513,575
Baxalta, Inc. 2.875% 6/23/20		725,000		736,575
Celgene Corp. 5.000% 8/15/45		750,000		844,498
Gilead Sciences, Inc. 2.950% 3/01/27		1,125,000		1,091,857
Gilead Sciences, Inc. 3.250% 9/01/22		600,000		620,437
Gilead Sciences, Inc. 4.150% 3/01/47		445,000		447,075
				4,254,017
Chemicals — 0.1%
Axalta Coating Systems LLC (a) 4.875% 8/15/24		225,000		232,312
Valvoline, Inc. (a) 5.500% 7/15/24		200,000		211,500
				443,812
Commercial Services — 0.1%
CDK Global, Inc. (a) 4.875% 6/01/27		62,000		63,705
IHS Markit Ltd. (a) 5.000% 11/01/22		151,000		162,985
				226,690
Computers — 0.2%
Apple, Inc. 4.650% 2/23/46		850,000		952,783
Cosmetics & Personal Care — 0.0%
First Quality Finance Co., Inc. (a) 5.000% 7/01/25		80,000		81,600
Diversified Financial Services — 0.6%
Federal Home Loan Mortgage Corp. 1.250% 10/02/19		700,000		696,271
GE Capital International Funding Co. Unlimited Co. 4.418% 11/15/35		780,000		848,943
International Lease Finance Corp. (a) 7.125% 9/01/18		1,000,000		1,058,347
				2,603,561

	Principal Amount		Value
Electric — 2.4%
Dominion Energy, Inc. (a) 1.875% 12/15/18	$	1,000,000	$	998,663
Duke Energy Carolinas LLC 4.000% 9/30/42		1,000,000		1,031,725
Duquesne Light Holdings, Inc. (a) 6.400% 9/15/20		1,000,000		1,114,400
Emera US Finance LP 2.150% 6/15/19		1,068,000		1,067,007
Jersey Central Power & Light Co. (a) 4.700% 4/01/24		800,000		867,394
Jersey Central Power & Light Co. 6.400% 5/15/36		425,000		509,218
Kansas City Power & Light Co. 3.150% 3/15/23		500,000		504,356
LG&E & KU Energy LLC 4.375% 10/01/21		1,200,000		1,275,584
MidAmerican Energy Co. 4.800% 9/15/43		1,400,000		1,599,625
Southern California Edison Co. 3.600% 2/01/45		400,000		389,095
The Southern Co. 1.550% 7/01/18		750,000		748,026
				10,105,093
Entertainment — 0.1%
Churchill Downs, Inc. 5.375% 12/15/21		175,000		181,563
GLP Capital LP/GLP Financing II, Inc. 5.375% 4/15/26		200,000		218,458
				400,021
Food Services — 0.0%
Aramark Services, Inc. 4.750% 6/01/26		158,000		163,925
Foods — 0.4%
Chobani LLC/Chobani Finance Corp., Inc. (a) 7.500% 4/15/25		105,000		110,906
Kraft Heinz Foods Co. 3.950% 7/15/25		500,000		514,135
Mondelez International Holdings Netherlands BV (a) 1.625% 10/28/19		1,195,000		1,183,773
				1,808,814
Gas — 0.3%
CenterPoint Energy Resources Corp. 6.250% 2/01/37		1,095,000		1,288,584
Southern Co. Gas Capital Corp. 2.450% 10/01/23		100,000		97,012
				1,385,596

The accompanying notes are an integral part of the financial statements.

83

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

	Principal Amount		Value
Health Care – Products — 0.2%
Abbott Laboratories 4.900% 11/30/46	$	600,000	$	660,863
Health Care – Services — 1.5%
Aetna, Inc. 2.800% 6/15/23		485,000		484,159
Anthem, Inc. 3.125% 5/15/22		500,000		509,316
Anthem, Inc. 3.300% 1/15/23		530,000		540,548
Centene Corp. 4.750% 1/15/25		259,000		266,123
DaVita, Inc. 5.000% 5/01/25		88,000		88,220
HCA, Inc. 5.000% 3/15/24		700,000		741,125
Kaiser Foundation Hospitals 3.150% 5/01/27		1,000,000		1,000,629
Northwell Healthcare, Inc. 3.979% 11/01/46		585,000		558,286
Providence St. Joseph Health Obligated Group 2.746% 10/01/26		845,000		809,318
RWJ Barnabas Health, Inc. 3.949% 7/01/46		595,000		585,446
Tenet Healthcare Corp. 4.375% 10/01/21		75,000		76,125
Tenet Healthcare Corp. 4.500% 4/01/21		40,000		40,650
Tenet Healthcare Corp. (a) 4.625% 7/15/24		129,000		129,161
Tenet Healthcare Corp. 3 mo. USD LIBOR + 3.500%, FRN 4.746% 6/15/20		350,000		353,500
THC Escrow Corp. III (a) 4.625% 7/15/24		162,000		162,437
WellCare Health Plans, Inc. 5.250% 4/01/25		122,000		127,795
				6,472,838
Household Products & Wares — 0.1%
Central Garden & Pet Co. 6.125% 11/15/23		125,000		133,125
Spectrum Brands, Inc. 5.750% 7/15/25		85,000		91,171
				224,296
Insurance — 0.7%
Berkshire Hathaway Finance Corp. 4.300% 5/15/43		500,000		532,223
Berkshire Hathaway Finance Corp. 4.400% 5/15/42		750,000		816,820
Farmers Exchange Capital III 3 mo. USD LIBOR + 3.454%, VRN (a) 5.454% 10/15/54		970,000		1,055,137

	Principal Amount		Value
New York Life Global Funding (a) 1.550% 11/02/18	$	750,000	$	748,702
				3,152,882
Media — 0.6%
Altice US Finance I Corp. (a) 5.375% 7/15/23		425,000		442,266
CCO Holdings LLC/CCO Holdings Capital Corp. (a) 5.125% 5/01/27		85,000		86,912
Charter Communications Operating LLC/Charter Communications Operating Capital 4.464% 7/23/22		875,000		932,283
Charter Communications Operating LLC/Charter Communications Operating Capital 6.484% 10/23/45		200,000		240,043
CSC Holdings LLC (a) 5.500% 4/15/27		200,000		211,500
CSC Holdings LLC 8.625% 2/15/19		100,000		109,593
DISH DBS Corp. 5.875% 7/15/22		100,000		107,500
DISH DBS Corp. 6.750% 6/01/21		70,000		77,700
Sirius XM Radio, Inc. (a) 4.250% 5/15/20		205,000		207,352
Virgin Media Secured Finance PLC (a) 5.250% 1/15/26		200,000		208,162
				2,623,311
Miscellaneous – Manufacturing — 0.2%
General Electric Co. 5.875% 1/14/38		244,000		315,767
Siemens Financieringsmaatschappij NV (a) 2.000% 9/15/23		550,000		528,442
				844,209
Oil & Gas — 0.2%
Canadian Natural Resources Ltd. 3.850% 6/01/27		171,000		169,614
Concho Resources, Inc. 5.500% 10/01/22		45,000		46,181
Diamondback Energy, Inc. (a) 4.750% 11/01/24		126,000		125,370
Gulfport Energy Corp. (a) 6.375% 5/15/25		47,000		46,295
Noble Energy, Inc. 5.250% 11/15/43		140,000		145,057
QEP Resources, Inc. 5.375% 10/01/22		78,000		75,075
Shell International Finance BV 4.375% 5/11/45		415,000		434,312
				1,041,904

The accompanying notes are an integral part of the financial statements.

84

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

	Principal Amount		Value
Packaging & Containers — 0.4%
Amcor Finance USA, Inc. (a) 3.625% 4/28/26	$	650,000	$	650,083
Ball Corp. 4.375% 12/15/20		350,000		367,500
Graphic Packaging International, Inc. 4.125% 8/15/24		200,000		204,000
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu 5.750% 10/15/20		410,000		419,570
Sealed Air Corp. (a) 5.500% 9/15/25		190,000		207,575
				1,848,728
Pharmaceuticals — 0.7%
AbbVie, Inc. 1.800% 5/14/18		500,000		500,631
AbbVie, Inc. 3.600% 5/14/25		500,000		510,032
Actavis Funding SCS 3.800% 3/15/25		850,000		879,197
Shire Acquisitions Investments Ireland DAC 1.900% 9/23/19		500,000		497,678
Valeant Pharmaceuticals International, Inc. (a) 5.500% 3/01/23		400,000		339,496
Valeant Pharmaceuticals International, Inc. (a) 5.625% 12/01/21		100,000		90,250
Valeant Pharmaceuticals International, Inc. (a) 6.125% 4/15/25		100,000		84,625
				2,901,909
Pipelines — 0.8%
Cheniere Corpus Christi Holdings LLC (a) 5.125% 6/30/27		75,000		76,875
Energy Transfer LP 5.150% 3/15/45		400,000		388,630
Florida Gas Transmission Co. LLC (a) 7.900% 5/15/19		1,000,000		1,096,785
Kinder Morgan Energy Partners LP 3.500% 9/01/23		567,000		571,692
Plains All American Pipeline LP/PAA Finance Corp. 4.650% 10/15/25		400,000		409,996
Rockies Express Pipeline LLC (a) 5.625% 4/15/20		155,000		164,687
Rockies Express Pipeline LLC (a) 6.000% 1/15/19		75,000		78,188

	Principal Amount		Value
Williams Partners LP 3.600% 3/15/22	$	683,000	$	697,792
				3,484,645
Real Estate Investment Trusts (REITS) — 2.5%
American Tower Corp. 4.500% 1/15/18		1,000,000		1,013,698
Equinix, Inc. 5.375% 5/15/27		129,000		137,546
HCP, Inc. 3.400% 2/01/25		1,000,000		984,696
HCP, Inc. 3.875% 8/15/24		500,000		509,739
Kimco Realty Corp. 4.300% 2/01/18		1,350,000		1,361,042
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc. 5.625% 5/01/24		100,000		109,000
National Retail Properties, Inc. 6.875% 10/15/17		750,000		760,414
Realty Income Corp. 2.000% 1/31/18		750,000		750,733
SBA Communications Corp. 4.875% 9/01/24		193,000		196,378
Ventas Realty LP 3.500% 2/01/25		1,500,000		1,490,278
WEA Finance LLC/Westfield UK & Europe Finance PLC (a) 1.750% 9/15/17		1,550,000		1,549,992
Welltower, Inc. 4.000% 6/01/25		830,000		858,188
Welltower, Inc. 4.125% 4/01/19		750,000		772,371
				10,494,075
Retail — 0.4%
1011778 BC ULC/New Red Finance, Inc. (a) 4.250% 5/15/24		210,000		208,675
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC (a) 4.750% 6/01/27		210,000		214,463
Wal-Mart Stores, Inc. 4.000% 4/11/43		400,000		421,940
Walgreens Boots Alliance, Inc. 3.800% 11/18/24		400,000		415,441
Walgreens Boots Alliance, Inc. 4.800% 11/18/44		275,000		292,642
				1,553,161
Semiconductors — 0.1%
NXP BV/NXP Funding LLC (a) 4.125% 6/01/21		200,000		210,600

The accompanying notes are an integral part of the financial statements.

85

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

	Principal Amount		Value
Software — 0.3%
First Data Corp. (a) 5.000% 1/15/24	$	193,000	$	198,487
Microsoft Corp. 3.750% 2/12/45		635,000		631,108
Quintiles IMS, Inc. (a) 4.875% 5/15/23		175,000		179,156
Quintiles IMS, Inc. (a) 5.000% 10/15/26		200,000		206,250
				1,215,001
Telecommunications — 1.3%
AT&T, Inc. 3.600% 2/17/23		200,000		204,692
AT&T, Inc. 4.125% 2/17/26		500,000		512,635
AT&T, Inc. 4.750% 5/15/46		750,000		735,453
AT&T, Inc. 5.450% 3/01/47		1,030,000		1,108,821
Intelsat Jackson Holdings SA (a) (b) 9.750% 7/15/25		78,000		77,903
Level 3 Financing, Inc. 5.625% 2/01/23		175,000		182,000
Sprint Communications, Inc. (a) 9.000% 11/15/18		148,000		160,626
Verizon Communications, Inc. 4.522% 9/15/48		600,000		567,655
Verizon Communications, Inc. 4.862% 8/21/46		600,000		600,102
Verizon Communications, Inc. 5.150% 9/15/23		500,000		555,393
Verizon Communications, Inc. 5.250% 3/16/37		630,000		677,244
				5,382,524
Transportation — 0.1%
Burlington Northern Santa Fe LLC 4.150% 4/01/45		265,000		277,010
TOTAL CORPORATE DEBT (Cost $111,288,987)				110,493,887
MUNICIPAL OBLIGATIONS — 1.4%
Alabama Economic Settlement Authority 3.163% 9/15/25		1,000,000		1,015,220
City of New York NY 5.206% 10/01/31		750,000		870,953
Commonwealth of Massachusetts 4.910% 5/01/29		550,000		640,761
Los Angeles Community College District 6.750% 8/01/49		900,000		1,372,716

	Principal Amount		Value
New York City Water & Sewer System 5.882% 6/15/44	$	315,000	$	433,868
New York State Dormitory Authority 5.289% 3/15/33		750,000		881,490
State of California 7.950% 3/01/36		850,000		969,731
				6,184,739
TOTAL MUNICIPAL OBLIGATIONS (Cost $5,751,661)				6,184,739
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 14.1%
Automobile ABS — 0.1%
Honda Auto Receivables Owner Trust, Series 2015-4, Class A2 0.820% 7/23/18		133,455		133,379
Nissan Auto Receivables Owner Trust, Series 2015-C, Class A2A 0.870% 11/15/18		176,809		176,708
				310,087
Commercial MBS — 1.7%
7 WTC Depositor LLC Trust, Series 2012-7WTC, Class A (a) 4.082% 3/13/31		79,313		79,565
BAMLL Commercial Mortgage Securities Trust, Series 2012-PARK, Class A (a) 2.959% 12/10/30		375,000		381,107
Citigroup Commercial Mortgage Trust, Series 2013-375P, Class A (a) 3.251% 5/10/35		340,000		348,998
COMM Mortgage Trust, Series 2013-WWP, Class A2 (a) 3.424% 3/10/31		390,000		403,861
COMM Mortgage Trust, Series 2016-787S, Class A (a) 3.545% 2/10/36		340,000		349,508
COMM Mortgage Trust, Series 2013-300P, Class A1 (a) 4.353% 8/10/30		325,000		352,622
GS Mortgage Securities Corp., Series 2012-ALOH, Class A (a) 3.551% 4/10/34		370,000		388,041
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2010-C2, Class A2 (a) 3.616% 11/15/43		782,772		787,109
Liberty Street Trust, Series 2016-225L, Class A (a) 3.597% 2/10/36		340,000		351,090
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2012-C6, Class A4 2.858% 11/15/45		1,780,000		1,806,380

The accompanying notes are an integral part of the financial statements.

86

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

	Principal Amount		Value
Morgan Stanley Capital I Trust, Series 2015-420, Class A (a) 3.727% 10/11/50	$	400,000	$	417,339
RBS Commercial Funding, Inc. Trust, Series 2013-GSP, Class A, VRN (a) 3.961% 1/13/32		330,000		349,285
SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class A1, VRN (a) 3.872% 1/05/43		370,000		366,162
Wells Fargo Commercial Mortgage Trust, Series 2010-C1, Class A2 (a) 4.393% 11/15/43		500,000		525,048
				6,906,115
Home Equity ABS — 1.2%
Bear Stearns I Trust, Series 2006-HE1, Class 1M1, 1 mo. USD LIBOR + .410%, FRN 1.626% 12/25/35		1,314,283		1,319,189
Citigroup Mortgage Loan Trust, Inc., Series 2006-HE2, Class M1 1.506% 8/25/36		2,400,000		2,295,239
Wells Fargo Home Equity Trust, Series 2004-2, Class M3, 1 mo. USD LIBOR + 1.050%, FRN 2.266% 10/25/34		1,403,137		1,395,087
				5,009,515
Other ABS — 1.5%
AIMCO CLO, Series 2014-AA, Class AR, 3 mo. USD LIBOR + 1.100%, FRN (a) 2.181% 7/20/26		330,000		329,990
Blue Hill CLO Ltd., Series 2013-1A, Class AR, 3 mo. USD LIBOR + 1.180%, FRN (a) 2.338% 1/15/26		960,000		961,917
Countrywide Asset-Backed Certificates, Series 2006-15, Class A3, VRN 4.856% 10/25/46		1,531,313		1,463,891
First Frankin Mortgage Loan Trust, Series 2005-FF7, Class M2, 1 mo. USD LIBOR + .470%, FRN 1.686% 7/25/35		710,973		706,011
Magnetite CLO Ltd., Series 2015-12A, Class AR, 3 mo. USD LIBOR + 1.330%, FRN (a) 2.488% 4/15/27		1,060,000		1,065,640
RAMP Trust, Series 2005-RS2, Class M2, 1 mo. USD LIBOR + .480%, FRN 1.696% 2/25/35		131,766		131,789

	Principal Amount		Value
Saxon Asset Securities Trust, Series 2005-1, Class M1, 1 mo. USD LIBOR + .690%, FRN 1.906% 5/25/35	$	1,130,713	$	1,126,398
Voya CLO Ltd., Series 2014-3A, Class A1, 3 mo. USD LIBOR + 1.420%, FRN (a) 2.576% 7/25/26		800,000		800,143
				6,585,779
Student Loans ABS — 5.1%
Access Group, Inc., Series 2015-1, Class A, 1 mo. USD LIBOR + .700%, FRN (a) 1.916% 7/25/56		941,779		935,689
Collegiate Funding Services Education Loan Trust, Series 2005-A, Class A4, 3 mo. USD LIBOR + .200%, FRN 1.495% 3/28/35		1,500,000		1,416,804
Navient Student Loan Trust, Series 2015-1, Class A2, 1 mo. USD LIBOR + .600%, FRN 1.816% 4/25/40		1,100,000		1,095,432
Navient Student Loan Trust, Series 2017-3A, Class A3, 1 mo. USD LIBOR + 1.050%, FRN (a) 2.266% 7/26/66		1,100,000		1,111,640
Nelnet Student Loan Trust, Series 2015-1A, Class A, 1 mo. USD LIBOR + .590%, FRN (a) 1.806% 4/25/46		1,536,412		1,535,010
Nelnet Student Loan Trust, Series 2015-3A, Class A2, 1 mo. USD LIBOR + .600%, FRN (a) 1.816% 2/27/51		1,920,387		1,915,666
Pennsylvania Higher Education Assistance Agency, Series 2013-3A, Class A, 1 mo. USD LIBOR + .750%, FRN (a) 1.966% 11/25/42		1,382,715		1,379,961
SLC Student Loan Trust, Series 2006-2, Class A6, 3 mo. USD LIBOR + .160%, FRN 1.406% 9/15/39		2,300,000		2,150,174
SLM Student Loan Trust, Series 2007-1, Class A5, 3 mo. USD LIBOR + .090%, FRN 1.246% 1/26/26		1,733,909		1,727,500
SLM Student Loan Trust, Series 2005-9, Class B, 3 mo. USD LIBOR + .300%, FRN 1.456% 1/25/41		189,507		172,212

The accompanying notes are an integral part of the financial statements.

87

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

	Principal Amount		Value
SLM Student Loan Trust, Series 2007-6, Class A4, 3 mo. USD LIBOR + .380%, FRN 1.536% 10/25/24	$	1,694,851	$	1,685,537
SLM Student Loan Trust, Series 2003-10A, Class A3, 3 mo. LIBOR + .470%, FRN (a) 1.716% 12/15/27		1,279,725		1,278,267
SLM Student Loan Trust, Series 2011-1, Class A1, 1 mo. USD LIBOR + .520%, FRN 1.736% 3/25/26		826,039		828,852
SLM Student Loan Trust, Series 2012-2, Class A, 1 mo. USD LIBOR + .700%, FRN 1.916% 1/25/29		1,379,974		1,382,800
SLM Student Loan Trust, Series 2007-6, Class B, 3 mo. USD LIBOR + .850%, FRN 2.006% 4/27/43		535,380		507,300
SLM Student Loan Trust, Series 2008-9, Class A, 3 mo. USD LIBOR + 1.500%, FRN 2.656% 4/25/23		1,320,544		1,348,480
SLM Student Loan Trust, Series 2008-5, Class B, 3 mo. USD LIBOR + 1.850%, FRN 3.006% 7/25/73		700,000		688,570
SLM Student Loan Trust, Series 2008-9, Class B, 3 mo. USD LIBOR + 2.250%, FRN 3.406% 10/25/83		680,000		687,827
				21,847,721
WL Collateral CMO — 4.5%
Banc of America Funding Trust, Series 2016-R1, Class A1, VRN (a) 2.500% 3/25/40		1,879,248		1,901,082
Chase Mortgage Finance Trust, Series 2007-A1, Class 11A4, VRN 3.328% 3/25/37		753,290		720,445
Citigroup Mortgage Loan Trust, Series 2005-11, Class A2A, 1 year CMT + 2.400%, FRN 2.930% 10/25/35		923,407		938,908
First Horizon Mortgage Pass-Through Trust, Series 2005-AR5, Class 2A1, VRN 2.987% 11/25/35		1,261,079		1,228,708
Impac CMB Trust, Series 2005-1, Class 1A1, 1 mo. USD LIBOR + .520%, FRN 1.736% 4/25/35		1,558,026		1,454,137

	Principal Amount		Value
IndyMac Index Mortgage Loan Trust, Series 2006-AR27, Class 1A3, 1 mo. USD LIBOR + .270%, FRN 1.486% 10/25/36	$	2,421,998	$	1,634,185
IndyMac Index Mortgage Loan Trust, Series 2005-AR19, Class A1, VRN 3.285% 10/25/35		1,478,921		1,281,763
Morgan Stanley Resecuritization Trust, Series 2014-R9, Class 3A, 12 mo. MTA + .840%, FRN (a) 1.532% 11/26/46		1,330,279		1,284,591
Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2005-AR1, Class M1, 1 mo. LIBOR + 1.070%, FRN 2.094% 2/25/35		2,477,935		2,398,457
Nomura Resecuritization Trust, Series 2015-1R, Class 6A1, 1 mo. USD LIBOR + .210%, FRN (a) 1.283% 5/26/47		833,897		821,811
Washington Mutual Mortgage Pass-Through Certificates, Series 2005-AR13, Class A1A1, 1 mo. USD LIBOR + .290%, FRN 1.506% 10/25/45		1,308,622		1,287,121
Washington Mutual Mortgage Pass-Through Certificates, Series 2005-AR2, Class 2A21, 1 mo. USD LIBOR + .330%, FRN 1.546% 1/25/45		1,246,436		1,205,226
Washington Mutual Mortgage Pass-Through Certificates, Series 2006-1 Class 3A2 5.750% 2/25/36		1,319,542		1,266,589
Wells Fargo Mortgage Backed Securities Trust, Series 2004-DD, Class 2A6, VRN 3.111% 1/25/35		323,945		336,474
Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR8, Class 3A1, VRN 3.174% 4/25/36		1,242,749		1,239,895
				18,999,392
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $58,257,276)				59,658,609

The accompanying notes are an integral part of the financial statements.

88

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

	Principal Amount		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES — 32.0%
Collateralized Mortgage Obligations — 0.7%
Federal Home Loan Mortgage Corp. REMICS Series 4639, Class HZ STEP 1.750% 4/15/53	$	1,376,987	$	1,275,132
Freddie Mac Multifamily Structured Pass Through Certificates Series S8FX, Class A2 3.291% 3/25/27		1,775,000		1,823,657
				3,098,789
Pass-Through Securities — 31.3%
Federal Home Loan Mortgage Corp.
Pool #G18622 2.500% 12/01/31		1,063,768		1,071,206
Pool #G18626 2.500% 1/01/32		1,026,447		1,033,624
Pool #G18592 3.000% 3/01/31		720,264		740,493
Pool #G18627 3.000% 1/01/32		2,089,062		2,147,082
Pool #G08710 3.000% 6/01/46		441,728		441,227
Pool #G08715 3.000% 8/01/46		3,367,790		3,363,975
Pool #G08726 3.000% 10/01/46		3,220,593		3,216,945
Pool #G08732 3.000% 11/01/46		1,127,817		1,126,539
Pool #G08737 3.000% 12/01/46		403,985		403,527
Pool #G08741 3.000% 1/01/47		2,767,995		2,764,859
Pool #G08747 3.000% 2/01/47		790,821		789,925
Pool #G07848 3.500% 4/01/44		2,997,725		3,108,734
Pool #G60023 3.500% 4/01/45		3,096,384		3,204,757
Pool #G08698 3.500% 3/01/46		4,349,553		4,471,204
Pool #G08702 3.500% 4/01/46		1,228,227		1,262,579
Pool #G08706 3.500% 5/01/46		538,718		553,785
Pool #G08711 3.500% 6/01/46		1,859,301		1,911,303
Pool #G08716 3.500% 8/01/46		2,582,872		2,655,112
Pool #G67700 3.500% 8/01/46		934,156		964,954

	Principal Amount		Value
Pool #G08722 3.500% 9/01/46	$	517,934	$	532,420
Pool #G08742 3.500% 1/01/47		1,753,324		1,802,636
Pool #G08757 3.500% 4/01/47		597,786		614,645
Pool #G08677 4.000% 11/01/45		1,629,202		1,714,289
Pool #G60344 4.000% 12/01/45		2,093,216		2,224,778
Pool #G08707 4.000% 5/01/46		2,094,346		2,202,418
Federal Home Loan Mortgage Corp. TBA (b)
Pool #5992 4.000% 9/01/43		1,000,000		1,049,375
Federal National Mortgage Association
Pool #AM0359 2.310% 8/01/22		500,000		499,989
Pool #AM0992 2.340% 11/01/22		820,000		818,401
Pool #AM1402 2.420% 11/01/22		945,000		946,993
Pool #MA2740 2.500% 9/01/26		1,737,110		1,757,670
Pool #AM0827 2.600% 11/01/22		988,670		1,001,261
Pool #AM2808 2.700% 3/01/23		375,000		380,309
Pool #AN1089 2.740% 3/01/26		690,000		686,560
Pool #AL6829 2.964% 5/01/27		1,361,872		1,373,021
Pool #MA2915 3.000% 2/01/27		1,110,170		1,142,912
Pool #MA1607 3.000% 10/01/33		853,786		872,429
Pool #AM9188 3.120% 6/01/35		780,000		766,084
Pool #FN0039 3.201% 9/01/27		824,457		844,501
Pool #AN4431 3.220% 1/01/27		805,000		825,027
Pool #AM9623 3.340% 7/01/30		755,000		772,281
Pool #AB4262 3.500% 1/01/32		899,317		937,994
Pool #MA1512 3.500% 7/01/33		411,088		428,768
Pool #MA1148 3.500% 8/01/42		2,851,555		2,940,332
Pool #469621 3.650% 11/01/21		1,579,940		1,666,943

The accompanying notes are an integral part of the financial statements.

89

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

	Principal Amount		Value
Pool #AM4109 3.850% 8/01/25	$	419,750	$	448,930
Pool #AM4108 3.850% 8/01/25		377,304		403,533
Pool #466960 3.890% 12/01/20		1,128,760		1,191,227
Pool #466919 3.930% 1/01/21		1,463,967		1,548,570
Pool #AM4236 3.940% 8/01/25		625,154		672,094
Pool #468551 3.980% 7/01/21		1,230,000		1,311,642
Pool #931504 4.500% 7/01/39		120,796		130,969
Pool #986268 5.000% 7/01/38		2,087		2,289
Pool #AD6374 5.000% 5/01/40		38,904		42,662
Pool #AI2733 5.000% 5/01/41		279,134		306,098
Pool #977014 5.500% 5/01/38		44,895		50,455
Pool #985524 5.500% 6/01/38		41,558		46,418
Pool #988578 5.500% 8/01/38		278,343		310,896
Pool #995482 5.500% 1/01/39		200,851		225,722
Federal National Mortgage Association TBA
Pool #515 3.000% 5/01/44 (b)		2,090,000		2,087,224
Pool #1127 3.500% 4/01/44 (b)		2,725,000		2,798,234
Pool #6447 4.000% 9/01/43 (b)		10,440,000		10,972,603
Pool #9730 4.500% 4/01/41 (b)		17,460,000		18,702,661
Government National Mortgage Association II
Pool #MA4126 3.000% 12/20/46		2,882,854		2,915,399
Pool #MA3521 3.500% 3/20/46		1,273,544		1,321,402
Pool #MA3597 3.500% 4/20/46		820,287		850,599
Pool #MA3663 3.500% 5/20/46		591,499		613,357
Pool #MA3736 3.500% 6/20/46		1,151,118		1,193,656
Pool #MA3937 3.500% 9/20/46		466,194		483,203

	Principal Amount		Value
Pool #MA4127 3.500% 12/20/46	$	1,557,225	$	1,614,769
Pool #MA4262 3.500% 2/20/47		1,813,742		1,880,907
Pool #MA4382 3.500% 4/20/47		492,581		510,861
Government National Mortgage Association II TBA
Pool #24 3.000% 2/01/45 (b)		2,020,000		2,040,989
Pool #471 3.500% 12/01/44 (b)		3,405,000		3,526,303
Pool #1767 4.000% 6/01/44 (b)		5,385,000		5,665,609
Pool #1207 4.500% 10/01/41 (b)		4,540,000		4,823,750
				132,726,897
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $135,216,618)				135,825,686
U.S. TREASURY OBLIGATIONS — 26.7%
U.S. Treasury Bonds & Notes — 26.7%
U.S. Treasury Bond 3.000% 5/15/47		16,570,000		17,103,347
U.S. Treasury Inflation Index 0.125% 4/15/21		2,104,484		2,101,279
U.S. Treasury Inflation Index 0.125% 4/15/22		1,040,548		1,035,582
U.S. Treasury Inflation Index 0.125% 7/15/26		3,789,374		3,655,105
U.S. Treasury Inflation Index 0.375% 1/15/27		1,629,594		1,600,488
U.S. Treasury Inflation Index 0.875% 2/15/47		4,400,920		4,270,816
U.S. Treasury Note 0.750% 10/31/17		6,115,000		6,107,237
U.S. Treasury Note 1.000% 12/31/17		3,475,000		3,471,919
U.S. Treasury Note 1.250% 4/30/19		2,085,000		2,080,146
U.S. Treasury Note 1.250% 5/31/19		3,295,000		3,287,277
U.S. Treasury Note 1.500% 1/31/22		5,115,000		5,037,076
U.S. Treasury Note 1.750% 5/31/22		22,440,000		22,307,288
U.S. Treasury Note 1.750% 6/30/22		27,185,000		27,005,432
U.S. Treasury Note 1.875% 4/30/22		4,345,000		4,344,457

The accompanying notes are an integral part of the financial statements.

90

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

	Principal Amount		Value
U.S. Treasury Note 2.375% 5/15/27	$	9,575,000	$	9,636,339
				113,043,788
TOTAL U.S. TREASURY OBLIGATIONS (Cost $113,075,124)				113,043,788
TOTAL BONDS & NOTES (Cost $424,189,359)				425,799,282
TOTAL LONG-TERM INVESTMENTS (Cost $424,189,359)				425,799,282
SHORT-TERM INVESTMENTS — 12.2%
Repurchase Agreement — 1.8%
State Street Bank & Trust Co. Repurchase Agreement, dated 6/30/17, 0.050%, due 7/03/17 (c)		7,602,651		7,602,651
Sovereign Debt Obligations — 3.8%
Japan Treasury Discount Bill JPY (d) 0.000% 7/18/17		70,000,000		622,382
Japan Treasury Discount Bill JPY (d) 0.000% 8/07/17		720,000,000		6,401,916
Japan Treasury Discount Bill JPY (d) 0.000% 9/25/17		1,020,000,000		9,070,577
				16,094,875
Time Deposit — 0.0%
Euro Time Deposit 0.090% 7/03/17		7,565		7,565
U.S. Treasury Bill — 6.6%
U.S. Treasury Bill 0.000% 8/03/17		3,005,000		3,002,794
U.S. Treasury Bill 0.000% 8/03/17		3,060,000		3,057,754
U.S. Treasury Bill 0.000% 8/03/17		2,425,000		2,423,220
U.S. Treasury Bill 0.000% 8/10/17		4,575,000		4,570,791
U.S. Treasury Bill 0.000% 8/17/17		9,380,000		9,369,401
U.S. Treasury Bill 0.000% 8/31/17		5,180,000		5,172,168
U.S. Treasury Bill (e) 0.000% 9/07/17		240,000		239,582
U.S. Treasury Bill (e) 0.000% 9/07/17		22,000		21,962

	Principal Amount		Value
U.S. Treasury Bill (e) 0.000% 9/07/17	$	10,000	$	9,982
				27,867,654
TOTAL SHORT-TERM INVESTMENTS (Cost $51,732,156)				51,572,745
TOTAL INVESTMENTS — 112.6% (Cost $475,921,515) (f)				477,372,027
Other Assets/(Liabilities) — (12.6)%				(53,551,443	)
NET ASSETS — 100.0%			$	423,820,584

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ABS Asset-Backed Security

CLO Collateralized Loan Obligation

CMO Collateralized Mortgage Obligation

CMT Constant Maturity Treasury Index

FRN Floating Rate Note

MBS Mortgage-Backed Security

MTA Monthly Treasury Average Index

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

WL Whole Loan

(a) Securities exempt from registration under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2017, these securities amounted to a value of $37,647,482 or 8.88% of net assets.

(b) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. (Note 2).

(c) Maturity value of $7,602,682. Collateralized by U.S. Government Agency obligations with a rate of 1.625%, maturity date of 4/30/19, and an aggregate market value, including accrued interest, of $7,756,279.

(d) The principal amount of the security is in foreign currency. The market value is in U.S. dollars.

(e) A portion of this security is pledged/held as collateral for open futures contracts. (Note 2).

(f) See Note 6 for aggregate cost for federal tax purposes.

The accompanying notes are an integral part of the financial statements.

91

MML Series Investment Fund – Financial Statements

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Blue Chip Growth Fund			MML Equity Income Fund
Assets:
Investments, at value (Note 2) (a)	$	350,321,404		$	496,657,677
Repurchase agreements, at value (Note 2) (b)		2,413,487			9,347,713
Other short-term investments, at value (Note 2) (c)		-			-
Total investments (d)		352,734,891			506,005,390
Foreign currency, at value (e)		14,868			141,791
Receivables from:
Investments sold		1,252,529			780,553
Fund shares sold		110,846			1,688,971
Variation margin on open derivative instruments (Note 2)		-			-
Interest and dividends		160,213			802,460
Foreign taxes withheld		803			1,544
Total assets		354,274,150			509,420,709
Liabilities:
Payables for:
Investments purchased		1,471,243			667,298
Fund shares repurchased		851,053			118,672
Securities on loan (Note 2)		-			-
Trustees’ fees and expenses (Note 3)		52,751			79,727
Affiliates (Note 3):
Investment advisory fees		221,251			312,414
Administration fees		-			-
Service fees		35,809			48,552
Due to custodian		-			-
Accrued expense and other liabilities		50,997			43,813
Total liabilities		2,683,104			1,270,476
Net assets	$	351,591,046		$	508,150,233
Net assets consist of:
Paid-in capital	$	139,247,821		$	333,971,894
Undistributed (accumulated) net investment income (loss)		(12,203	)		15,629,427
Accumulated net realized gain (loss) on investments and foreign currency transactions		80,612,284			53,071,708
Net unrealized appreciation (depreciation) on investments and foreign currency translations		131,743,144			105,477,204
Net assets	$	351,591,046		$	508,150,233
(a)        Cost of investments:	$	218,578,265		$	391,185,425
(b)        Cost of repurchase agreements:	$	2,413,487		$	9,347,713
(c)        Cost of other short-term investments:	$	-		$	-
(d)        Securities on loan with market value of:	$	-		$	-
(e)        Cost of foreign currency:	$	14,874		$	138,550

The accompanying notes are an integral part of the financial statements.

92

MML Equity Index Fund		MML Focused Equity Fund		MML Foreign Fund			MML Fundamental Growth Fund		MML Fundamental Value Fund
$	690,404,828	$	68,935,311	$	382,256,577		$	142,687,472	$	224,453,011
	4,406,159		690,835		11,135,466			-		4,133,071
	1,257,743		-		69,260			-		15,612
	696,068,730		69,626,146		393,461,303			142,687,472		228,601,694
	-		-		27,847			-		-
	-		1,734,575		-			569,595		-
	12,461		35,542		22,805			47,849		53,825
	2,348		-		-			-		-
	689,935		90,660		860,324			60,335		267,764
	-		-		662,887			-		53,752
	696,773,474		71,486,923		395,035,166			143,365,251		228,977,035
	295,145		773,866		8,279			527,961		-
	75,225		46,773		3,134,601			59,611		63,997
	-		-		3,983,411			-		-
	99,796		16,105		57,549			20,724		25,459
	54,247		40,909		287,158			76,246		112,791
	50,936		8,766		-			18,447		28,198
	28,342		5,183		6,674			3,221		6,713
	-		-		-			4,011		-
	57,159		27,694		145,873			35,581		34,526
	660,850		919,296		7,623,545			745,802		271,684
$	696,112,624	$	70,567,627	$	387,411,621		$	142,619,449	$	228,705,351
$	409,782,212	$	17,400,327	$	352,011,071		$	83,497,204	$	143,917,587
	14,621,979		2,923,085		12,844,288			1,938,530		6,164,582
	16,712,358		48,083,498		(20,641,954	)		31,502,932		28,338,711
	254,996,075		2,160,717		43,198,216			25,680,783		50,284,471
$	696,112,624	$	70,567,627	$	387,411,621		$	142,619,449	$	228,705,351
$	435,386,020	$	66,774,932	$	339,001,827		$	117,006,946	$	174,170,236
$	4,406,159	$	690,835	$	11,135,466		$	-	$	4,133,071
$	1,257,961	$	-	$	69,260		$	-	$	15,612
$	-	$	-	$	3,799,150		$	-	$	-
$	-	$	-	$	27,763		$	-	$	-

93

MML Series Investment Fund – Financial Statements (Continued)

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Blue Chip Growth Fund		MML Equity Income Fund
Initial Class shares:
Net assets	$	291,324,442	$	428,706,871
Shares outstanding (a)		17,489,314		34,460,411
Net asset value, offering price and redemption price per share	$	16.66	$	12.44
Class I shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-
Class II shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-
Class III shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-
Service Class shares:
Net assets	$	60,266,604	$	79,443,362
Shares outstanding (a)		3,716,397		6,452,600
Net asset value, offering price and redemption price per share	$	16.22	$	12.31
Service Class I shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-

(a) Authorized unlimited number of shares with no par value.

The accompanying notes are an integral part of the financial statements.

94

MML Equity Index Fund		MML Focused Equity Fund		MML Foreign Fund		MML Fundamental Growth Fund		MML Fundamental Value Fund
$	-	$	-	$	376,685,952	$	-	$	-
	-		-		35,294,491		-		-
$	-	$	-	$	10.67	$	-	$	-
$	64,775,634	$	-	$	-	$	-	$	-
	2,237,610		-		-		-		-
$	28.95	$	-	$	-	$	-	$	-
$	189,116,843	$	61,827,399	$	-	$	137,198,415	$	217,517,643
	6,523,113		4,175,836		-		10,572,402		13,937,702
$	28.99	$	14.81	$	-	$	12.98	$	15.61
$	396,671,869	$	-	$	-	$	-	$	-
	13,693,921		-		-		-		-
$	28.97	$	-	$	-	$	-	$	-
$	-	$	-	$	10,725,669	$	-	$	-
	-		-		1,012,442		-		-
$	-	$	-	$	10.59	$	-	$	-
$	45,548,278	$	8,740,228	$	-	$	5,421,034	$	11,187,708
	1,617,811		595,450		-		423,197		726,321
$	28.15	$	14.68	$	-	$	12.81	$	15.40

95

MML Series Investment Fund – Financial Statements (Continued)

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Global Fund		MML Growth & Income Fund
Assets:
Investments, at value (Note 2) (a)	$	243,306,159	$	132,919,880
Repurchase agreements, at value (Note 2) (b)		1,254,324		1,843,582
Other short-term investments, at value (Note 2) (c)		14,892		9,449
Total investments (d)		244,575,375		134,772,911
Cash		-		-
Foreign currency, at value (e)		54,559		64
Receivables from:
Investments sold		249,861		-
Investment adviser (Note 3)		-		-
Fund shares sold		51,947		17,381
Interest and dividends		333,911		112,160
Foreign taxes withheld		400,159		-
Total assets		245,665,812		134,902,516
Liabilities:
Payables for:
Investments purchased		637,898		-
Written options outstanding, at value (Note 2) (f)		-		-
Open forward foreign currency contracts (Note 2)		-		-
Fund shares repurchased		269,898		110,143
Securities on loan (Note 2)		1,772,097		-
Trustees’ fees and expenses (Note 3)		24,689		27,975
Affiliates (Note 3):
Investment advisory fees		122,367		55,802
Administration fees		30,592		-
Service fees		8,858		16,162
Accrued expense and other liabilities		64,143		28,242
Total liabilities		2,930,542		238,324
Net assets	$	242,735,270	$	134,664,192
Net assets consist of:
Paid-in capital	$	152,964,098	$	97,440,817
Undistributed (accumulated) net investment income (loss)		4,733,530		1,928,282
Accumulated net realized gain (loss) on investments and foreign currency transactions		35,949,086		(9,066,754	)
Net unrealized appreciation (depreciation) on investments and foreign currency translations		49,088,556		44,361,847
Net assets	$	242,735,270	$	134,664,192
(a)        Cost of investments:	$	194,211,447	$	88,558,033
(b)        Cost of repurchase agreements:	$	1,254,324	$	1,843,582
(c)        Cost of other short-term investments:	$	14,892	$	9,449
(d)        Securities on loan with market value of:	$	1,731,370	$	-
(e)        Cost of foreign currency:	$	54,691	$	63
(f)         Premiums on written options:	$	-	$	-

The accompanying notes are an integral part of the financial statements.

96

MML Income & Growth Fund		MML International Equity Fund			MML Large Cap Growth Fund		MML Managed Volatility Fund			MML Mid Cap Growth Fund
$	288,796,894	$	173,194,299		$	110,105,893	$	183,880,895		$	457,982,588
	13,960,762		6,354,403			1,254,808		2,829,792			20,599,977
	56,195		-			1,244		1,088			-
	302,813,851		179,548,702			111,361,945		186,711,775			478,582,565
	-		24,432			-		-			-
	2,089		200			-		18,347			18,947
	499,789		858,475			613,528		-			3,000,001
	-		11,649			-		-			-
	76,307		43,047			48,496		1,376,966			65,220
	573,566		249,917			72,867		183,669			226,755
	-		428,870			11,826		-			1,718
	303,965,602		181,165,292			112,108,662		188,290,757			481,895,206
	524,860		1,112,116			-		-			1,905,111
	-		-			-		2,268,301			-
	-		84,873			-		-			-
	74,543		29,499			125,887		32,610			1,150,869
	-		-			-		-			20,133,473
	32,581		9,897			25,682		48,786			60,021
	161,816		117,834			60,701		114,352			292,720
	-		22,094			-		-			-
	13,907		1,027			2,865		20,775			49,644
	39,960		62,053			21,959		72,261			53,627
	847,667		1,439,393			237,094		2,557,085			23,645,465
$	303,117,935	$	179,725,899		$	111,871,568	$	185,733,672		$	458,249,741
$	207,400,515	$	166,046,336		$	57,544,409	$	151,383,596		$	249,802,416
	7,703,485		5,345,383			807,338		3,329,683			(316,571	)
	33,555,939		(12,959,762	)		30,287,397		(9,127,647	)		76,237,755
	54,457,996		21,293,942			23,232,424		40,148,040			132,526,141
$	303,117,935	$	179,725,899		$	111,871,568	$	185,733,672		$	458,249,741
$	234,340,553	$	151,812,792		$	86,873,469	$	144,105,611		$	325,456,369
$	13,960,762	$	6,354,403		$	1,254,808	$	2,829,792		$	20,599,977
$	56,195	$	-		$	1,244	$	1,088		$	-
$	-	$	-		$	-	$	-		$	19,641,695
$	2,063	$	200		$	-	$	18,250		$	18,926
$	-	$	-		$	-	$	2,640,960		$	-

97

MML Series Investment Fund – Financial Statements (Continued)

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Global Fund		MML Growth & Income Fund
Initial Class shares:
Net assets	$	-	$	107,898,603
Shares outstanding (a)		-		6,783,638
Net asset value, offering price and redemption price per share	$	-	$	15.91
Class I shares:
Net assets	$	210,865,070	$	-
Shares outstanding (a)		15,777,545		-
Net asset value, offering price and redemption price per share	$	13.36	$	-
Class II shares:
Net assets	$	17,383,085	$	-
Shares outstanding (a)		1,277,852		-
Net asset value, offering price and redemption price per share	$	13.60	$	-
Service Class shares:
Net assets	$	-	$	26,765,589
Shares outstanding (a)		-		1,695,268
Net asset value, offering price and redemption price per share	$	-	$	15.79
Service Class I shares:
Net assets	$	14,487,115	$	-
Shares outstanding (a)		1,095,440		-
Net asset value, offering price and redemption price per share	$	13.22	$	-

(a) Authorized unlimited number of shares with no par value.

The accompanying notes are an integral part of the financial statements.

98

MML Income & Growth Fund		MML International Equity Fund		MML Large Cap Growth Fund		MML Managed Volatility Fund		MML Mid Cap Growth Fund
$	280,109,429	$	-	$	106,894,423	$	152,192,893	$	376,190,342
	22,197,464		-		8,513,352		12,415,753		22,857,890
$	12.62	$	-	$	12.56	$	12.26	$	16.46
$	-	$	-	$	-	$	-	$	-
	-		-		-		-		-
$	-	$	-	$	-	$	-	$	-
$	-	$	177,677,817	$	-	$	-	$	-
	-		16,289,987		-		-		-
$	-	$	10.91	$	-	$	-	$	-
$	23,008,506	$	-	$	4,977,145	$	33,540,779	$	82,059,399
	1,843,669		-		405,490		2,762,133		5,136,195
$	12.48	$	-	$	12.27	$	12.14	$	15.98
$	-	$	2,048,082	$	-	$	-	$	-
	-		188,766		-		-		-
$	-	$	10.85	$	-	$	-	$	-

99

MML Series Investment Fund – Financial Statements (Continued)

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Mid Cap Value Fund		MML Small Cap Growth Equity Fund
Assets:
Investments, at value (Note 2) (a)	$	462,597,288	$	250,977,467
Repurchase agreements, at value (Note 2) (b)		13,523,450		2,697,827
Other short-term investments, at value (Note 2) (c)		27,991		-
Total investments (d)		476,148,729		253,675,294
Foreign currency, at value (e)		1		11
Receivables from:
Investments sold		3,476,726		1,209,249
Investments sold on a when-issued basis (Note 2)		-		-
Open forward foreign currency contracts (Note 2)		22,737		-
Investment adviser (Note 3)		-		-
Fund shares sold		2,847,742		14,399
Collateral pledged for open derivative instruments (Note 2)		-		-
Variation margin on open derivative instruments (Note 2)		-		-
Interest and dividends		723,611		168,836
Total assets		483,219,546		255,067,789
Liabilities:
Payables for:
Investments purchased		7,362,570		2,350,594
Open forward foreign currency contracts (Note 2)		226,141		-
Investments purchased on a when-issued basis (Note 2)		-		-
Fund shares repurchased		429,765		1,518,911
Securities on loan (Note 2)		-		41,975,690
Trustees’ fees and expenses (Note 3)		73,051		47,160
Variation margin on open derivative instruments (Note 2)		-		-
Affiliates (Note 3):
Investment advisory fees		326,137		179,701
Administration fees		-		-
Service fees		28,764		8,753
Accrued expense and other liabilities		58,157		38,455
Total liabilities		8,504,585		46,119,264
Net assets	$	474,714,961	$	208,948,525
Net assets consist of:
Paid-in capital	$	357,165,548	$	161,229,536
Undistributed (accumulated) net investment income (loss)		9,990,705		(131,846	)
Accumulated net realized gain (loss) on investments and foreign currency transactions		47,851,203		17,613,789
Net unrealized appreciation (depreciation) on investments and foreign currency translations		59,707,505		30,237,046
Net assets	$	474,714,961	$	208,948,525
(a)        Cost of investments:	$	402,687,469	$	220,740,370
(b)        Cost of repurchase agreements:	$	13,523,450	$	2,697,827
(c)        Cost of other short-term investments:	$	27,991	$	-
(d)        Securities on loan with market value of:	$	-	$	40,957,338
(e)        Cost of foreign currency:	$	1	$	11

The accompanying notes are an integral part of the financial statements.

100

MML Small Company Value Fund		MML Small/Mid Cap Value Fund		MML Total Return Bond Fund
$	107,145,274	$	213,290,377	$	425,799,282
	2,028,391		4,519,422		7,602,651
	-		-		43,970,094
	109,173,665		217,809,799		477,372,027
	-		-		1
	-		-		1,144,199
	-		-		21,508,960
	-		-		204,626
	-		-		5,592
	47,187		3,332,635		134,874
	-		-		9,488
	-		-		794
	80,252		242,216		1,804,352
	109,301,104		221,384,650		502,184,913
	10,040		151,354		4,438,076
	-		-		-
	-		-		73,473,450
	38,622		75,595		88,556
	5,875,061		-		-
	13,532		35,088		42,201
	-		-		26,845
	68,092		134,238		140,048
	12,767		-		52,518
	10,436		12,328		12,176
	23,652		35,123		90,459
	6,052,202		443,726		78,364,329
$	103,248,902	$	220,940,924	$	423,820,584
$	60,248,343	$	162,393,927	$	413,164,518
	820,966		1,507,158		12,104,119
	13,860,888		22,592,395		(3,027,885	)
	28,318,705		34,447,444		1,579,832
$	103,248,902	$	220,940,924	$	423,820,584
$	78,826,569	$	178,842,933	$	424,189,359
$	2,028,391	$	4,519,422	$	7,602,651
$	-	$	-	$	44,129,505
$	5,702,115	$	-	$	-
$	-	$	-	$	1

101

MML Series Investment Fund – Financial Statements (Continued)

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)

	MML Mid Cap Value Fund		MML Small Cap Growth Equity Fund
Initial Class shares:
Net assets	$	427,891,395	$	194,427,680
Shares outstanding (a)		34,856,039		13,798,328
Net asset value, offering price and redemption price per share	$	12.28	$	14.09
Class II shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-
Service Class shares:
Net assets	$	46,823,566	$	14,520,845
Shares outstanding (a)		3,872,591		1,078,416
Net asset value, offering price and redemption price per share	$	12.09	$	13.46
Service Class I shares:
Net assets	$	-	$	-
Shares outstanding (a)		-		-
Net asset value, offering price and redemption price per share	$	-	$	-

(a) Authorized unlimited number of shares with no par value.

The accompanying notes are an integral part of the financial statements.

102

MML Small Company Value Fund		MML Small/Mid Cap Value Fund		MML Total Return Bond Fund
$	-	$	200,933,621	$	-
	-		14,957,729		-
$	-	$	13.43	$	-
$	86,009,448	$	-	$	403,994,892
	4,923,046		-		38,569,030
$	17.47	$	-	$	10.47
$	-	$	20,007,303	$	-
	-		1,504,148		-
$	-	$	13.30	$	-
$	17,239,454	$	-	$	19,825,692
	1,011,313		-		1,911,641
$	17.05	$	-	$	10.37

103

MML Series Investment Fund – Financial Statements (Continued)

Statements of Operations

For the Six Months Ended June 30, 2017 (Unaudited)

	MML Blue Chip Growth Fund			MML Equity Income Fund
Investment income (Note 2):
Dividends (a)	$	1,540,526		$	6,699,849
Interest		703			38,499
Securities lending net income		-			-
Total investment income		1,541,229			6,738,348
Expenses (Note 3):
Investment advisory fees		1,375,800			1,818,476
Custody fees		26,061			28,678
Audit fees		17,977			17,692
Legal fees		1,817			2,126
Proxy fees		485			485
Shareholder reporting fees		19,927			24,644
Trustees’ fees		10,706			12,952
		1,452,773			1,905,053
Administration fees:
Class I		-			-
Class II		-			-
Service Class I		-			-
Service fees:
Service Class		67,488			95,506
Service Class I		-			-
Total expenses		1,520,261			2,000,559
Expenses waived (Note 3):
Initial Class advisory fees waived		-			(61,294	)
Service Class advisory fees waived		-			(11,460	)
Net expenses		1,520,261			1,927,805
Net investment income (loss)		20,968			4,810,543
Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		50,110,626			21,353,026
Futures contracts		-			-
Foreign currency transactions		104			2,182
Net realized gain (loss)		50,110,730			21,355,208
Net change in unrealized appreciation (depreciation) on:
Investment transactions		15,462,183			238,420
Futures contracts		-			-
Translation of assets and liabilities in foreign currencies		(27	)		4,632
Net change in unrealized appreciation (depreciation)		15,462,156			243,052
Net realized gain (loss) and change in unrealized appreciation (depreciation)		65,572,886			21,598,260
Net increase (decrease) in net assets resulting from operations	$	65,593,854		$	26,408,803
(a)        Net of foreign withholding tax of:	$	1,706		$	75,777
*           Net Increase (decrease) in accrued foreign capital gains tax of:	$	-		$	-

The accompanying notes are an integral part of the financial statements.

104

MML Equity Index Fund		MML Focused Equity Fund			MML Foreign Fund			MML Fundamental Growth Fund		MML Fundamental Value Fund
$	6,700,116	$	1,809,983		$	7,181,079		$	1,247,097	$	2,863,314
	3,895		555			936			24		836
	-		-			82,401			-		-
	6,704,011		1,810,538			7,264,416			1,247,121		2,864,150
	312,575		369,319			1,666,045			498,953		666,585
	44,801		6,914			88,739			22,048		15,460
	18,037		17,563			20,634			17,577		17,595
	2,067		683			1,590			821		1,080
	485		485			485			485		485
	30,440		7,673			18,883			9,430		12,720
	14,691		3,852			10,303			4,791		6,314
	423,096		406,489			1,806,679			554,105		720,239
	98,935		-			-			-		-
	137,935		73,283			-			117,079		158,933
	66,188		5,857			-			3,635		7,713
	-		-			13,130			-		-
	55,157		9,760			-			6,058		12,855
	781,311		495,389			1,819,809			680,877		899,740
	-		-			-			-		-
	-		-			-			-		-
	781,311		495,389			1,819,809			680,877		899,740
	5,922,700		1,315,149			5,444,607			566,244		1,964,410
	3,591,118		35,507,382			(26,446	)		17,609,524		12,360,618
	1,149,314		-			-			-		-
	-		(6	)		(59,195	)		3		726
	4,740,432		35,507,376			(85,641	)		17,609,527		12,361,344
	45,699,495		(24,049,503	)		40,654,589	*		3,087,149		(1,355,077	)
	101,603		-			-			-		-
	-		338			37,313			257		5,697
	45,801,098		(24,049,165	)		40,691,902			3,087,406		(1,349,380	)
	50,541,530		11,458,211			40,606,261			20,696,933		11,011,964
$	56,464,230	$	12,773,360		$	46,050,868		$	21,263,177	$	12,976,374
$	-	$	1,388		$	800,231		$	527	$	31,232
$	-	$	-		$	(58,919	)	$	-	$	-

105

MML Series Investment Fund – Financial Statements (Continued)

Statements of Operations

For the Six Months Ended June 30, 2017 (Unaudited)

	MML Global Fund			MML Growth & Income Fund
Investment income (Note 2):
Dividends (a)	$	2,957,061		$	1,064,329
Interest		251			274
Securities lending net income		10,769			-
Total investment income		2,968,081			1,064,603
Expenses (Note 3):
Investment advisory fees		744,755			328,026
Custody fees		47,663			8,997
Audit fees		21,876			17,560
Legal fees		1,151			564
Proxy fees		485			485
Shareholder reporting fees		13,390			7,323
Trustees’ fees		6,826			3,478
		836,146			366,433
Administration fees:
Class I		163,635			-
Class II		12,408			-
Service Class I		10,145			-
Service fees:
Service Class		-			31,287
Service Class I		16,909			-
Total expenses		1,039,243			397,720
Expenses waived (Note 3):
Class II fees reimbursed by adviser		-			-
Service Class I fees reimbursed by adviser		-			-
Net expenses		1,039,243			397,720
Net investment income (loss)		1,928,838			666,883
Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		17,737,122			5,307,170
Written options		-			-
Foreign currency transactions		(16,345	)		110
Net realized gain (loss)		17,720,777			5,307,280
Net change in unrealized appreciation (depreciation) on:
Investment transactions		17,111,253	*		9,006,823
Written options		-			-
Translation of assets and liabilities in foreign currencies		24,835			-
Net change in unrealized appreciation (depreciation)		17,136,088			9,006,823
Net realized gain (loss) and change in unrealized appreciation (depreciation)		34,856,865			14,314,103
Net increase (decrease) in net assets resulting from operations	$	36,785,703		$	14,980,986
(a)        Net of foreign withholding tax of:	$	206,646		$	13,580
*           Net Increase (decrease) in accrued foreign capital gains tax of:	$	(9,102	)	$	-

The accompanying notes are an integral part of the financial statements.

106

MML Income & Growth Fund		MML International Equity Fund			MML Large Cap Growth Fund		MML Managed Volatility Fund			MML Mid Cap Growth Fund
$	3,745,250	$	3,587,868		$	826,449	$	1,888,925		$	1,637,796
	2,180		-			167		578			13,986
	-		36,008			-		-			72,667
	3,747,430		3,623,876			826,616		1,889,503			1,724,449
	919,111		661,184			356,454		688,165			1,707,514
	23,315		84,253			7,651		100,328			29,563
	17,929		18,684			17,565		17,586			17,993
	1,171		740			851		861			1,954
	485		485			485		485			485
	15,013		8,774			6,025		9,521			22,404
	7,378		4,390			3,982		5,079			11,836
	984,402		778,510			393,013		822,025			1,791,749
	-		-			-		-			-
	-		122,929			-		-			-
	-		1,044			-		-			-
	26,992		-			5,278		41,019			95,904
	-		1,739			-		-			-
	1,011,394		904,222			398,291		863,044			1,887,653
	-		(75,360	)		-		-			-
	-		(652	)		-		-			-
	1,011,394		828,210			398,291		863,044			1,887,653
	2,736,036		2,795,666			428,325		1,026,459			(163,204	)
	12,964,922		3,644,075			2,715,082		886,792			32,284,492
	-		-			-		(5,503,331	)		-
	7,813		238,662			-		-			(249	)
	12,972,735		3,882,737			2,715,082		(4,616,539	)		32,284,243
	1,878,278		19,153,745			15,166,672		10,993,334			28,521,972
	-		-			-		597,638			-
	1,829		(334,765	)		-		626			(92	)
	1,880,107		18,818,980			15,166,672		11,591,598			28,521,880
	14,852,842		22,701,717			17,881,754		6,975,059			60,806,123
$	17,588,878	$	25,497,383		$	18,310,079	$	8,001,518		$	60,642,919
$	122,719	$	385,493		$	36,140	$	-		$	11,853
$	-	$	-		$	-	$	-		$	-

107

MML Series Investment Fund – Financial Statements (Continued)

Statements of Operations

For the Six Months Ended June 30, 2017 (Unaudited)

	MML Mid Cap Value Fund			MML Small Cap Growth Equity Fund
Investment income (Note 2):
Dividends (a)	$	4,693,906		$	921,795
Interest		1,890			522
Securities lending net income		-			57,074
Total investment income		4,695,796			979,391
Expenses (Note 3):
Investment advisory fees		1,972,536			1,067,672
Custody fees		32,206			17,454
Audit fees		18,006			18,832
Legal fees		2,165			903
Proxy fees		485			485
Shareholder reporting fees		24,764			10,881
Trustees’ fees		12,921			5,585
		2,063,083			1,121,812
Administration fees:
Class II		-			-
Service Class I		-			-
Service fees:
Service Class		56,139			16,978
Service Class I		-			-
Total expenses		2,119,222			1,138,790
Expenses waived (Note 3):
Class II fees reimbursed by adviser		-			-
Service Class I fees reimbursed by adviser		-			-
Class II advisory fees waived		-			-
Service Class I advisory fees waived		-			-
Net expenses		2,119,222			1,138,790
Net investment income (loss)		2,576,574			(159,399	)
Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		24,755,156			10,900,782
Futures contracts		-			-
Foreign currency transactions		(495,541	)		(1,109	)
Net realized gain (loss)		24,259,615			10,899,673
Net change in unrealized appreciation (depreciation) on:
Investment transactions		(7,722,375	)		10,887,400
Futures contracts		-			-
Swap agreements		-			-
Translation of assets and liabilities in foreign currencies		(128,525	)		235
Net change in unrealized appreciation (depreciation)		(7,850,900	)		10,887,635
Net realized gain (loss) and change in unrealized appreciation (depreciation)		16,408,715			21,787,308
Net increase (decrease) in net assets resulting from operations	$	18,985,289		$	21,627,909
(a)        Net of foreign withholding tax of:	$	38,329		$	1,840

The accompanying notes are an integral part of the financial statements.

108

MML Small Company Value Fund			MML Small/Mid Cap Value Fund			MML Total Return Bond Fund
$	692,367		$	1,394,885		$	-
	356			728			5,102,900
	12,173			-			-
	704,896			1,395,613			5,102,900
	409,055			823,659			831,528
	8,993			11,070			48,697
	17,869			17,594			48,980
	469			1,001			1,653
	485			485			485
	6,264			12,289			21,523
	2,819			6,114			10,930
	445,954			872,212			963,796
	64,516			-			297,404
	12,182			-			14,418
	-			24,445			-
	20,303			-			24,031
	542,955			896,657			1,299,649
	-			-			(27,044	)
	-			-			(1,299	)
	(21,501	)		-			-
	(4,065	)		-			-
	517,389			896,657			1,271,306
	187,507			498,956			3,831,594
	2,217,319			9,655,383			(487,299	)
	-			-			235,447
	-			-			(260,394	)
	2,217,319			9,655,383			(512,246	)
	(991,706	)		(6,772,332	)		5,327,814
	-			-			(15,885	)
	-			-			1,646
	-			-			(160,057	)
	(991,706	)		(6,772,332	)		5,153,518
	1,225,613			2,883,051			4,641,272
$	1,413,120		$	3,382,007		$	8,472,866
$	1,637		$	74		$	-

109

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Blue Chip Growth Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	20,968		$	(2,321	)
Net realized gain (loss) on investment transactions		50,110,730			31,710,233
Net change in unrealized appreciation (depreciation) on investments		15,462,156			(29,103,596	)
Net increase (decrease) in net assets resulting from operations		65,593,854			2,604,316
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			-
Class I		-			-
Class II		-			-
Class III		-			-
Service Class		-			-
Service Class I		-			-
Total distributions from net investment income		-			-
From net realized gains:
Initial Class		-			(44,016,658	)
Class I		-			-
Class II		-			-
Class III		-			-
Service Class		-			(5,513,029	)
Service Class I		-			-
Total distributions from net realized gains		-			(49,529,687	)
Net fund share transactions (Note 5):
Initial Class		(97,718,083	)		(14,216,357	)
Class I		-			-
Class II		-			-
Class III		-			-
Service Class		3,616,444			10,100,450
Service Class I		-			-
Increase (decrease) in net assets from fund share transactions		(94,101,639	)		(4,115,907	)
Total increase (decrease) in net assets		(28,507,785	)		(51,041,278	)
Net assets
Beginning of period		380,098,831			431,140,109
End of period	$	351,591,046		$	380,098,831
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	(12,203	)	$	(33,171	)

The accompanying notes are an integral part of the financial statements.

110

MML Equity Income Fund						MML Equity Index Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	4,810,543		$	10,635,854		$	5,922,700		$	8,729,346
	21,355,208			35,667,359			4,740,432			20,006,619
	243,052			32,950,785			45,801,098			21,401,004
	26,408,803			79,253,998			56,464,230			50,136,969
	-			(8,080,286	)		-			-
	-			-			-			(1,138,655	)
	-			-			-			(3,098,350	)
	-			-			-			(3,556,322	)
	-			(1,211,150	)		-			-
	-			-			-			(617,842	)
	-			(9,291,436	)		-			(8,411,169	)
	-			(40,910,962	)		-			-
	-			-			-			(1,622,191	)
	-			-			-			(3,906,075	)
	-			-			-			(4,183,965	)
	-			(6,930,496	)		-			-
	-			-			-			(962,234	)
	-			(47,841,458	)		-			(10,674,465	)
	(6,905,881	)		(14,762,650	)		-			-
	-			-			(7,386,681	)		(13,086,785	)
	-			-			(2,516,241	)		(384,062	)
	-			-			85,960,408			94,690,407
	(2,303,270	)		11,031,372			-			-
	-			-			(383,647	)		874,480
	(9,209,151	)		(3,731,278	)		75,673,839			82,094,040
	17,199,652			18,389,826			132,138,069			113,145,375
	490,950,581			472,560,755			563,974,555			450,829,180
$	508,150,233		$	490,950,581		$	696,112,624		$	563,974,555
$	15,629,427		$	10,818,884		$	14,621,979		$	8,699,279

111

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Focused Equity Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	1,315,149		$	1,625,429
Net realized gain (loss) on investment transactions		35,507,376			12,576,129
Net change in unrealized appreciation (depreciation) on investments		(24,049,165	)		10,422,355
Net increase (decrease) in net assets resulting from operations		12,773,360			24,623,913
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			-
Class II		-			(2,228,977	)
Service Class		-			-
Service Class I		-			(75,702	)
Total distributions from net investment income		-			(2,304,679	)
From net realized gains:
Class II		-			(9,579,688	)
Service Class I		-			(406,428	)
Total distributions from net realized gains		-			(9,986,116	)
Net fund share transactions (Note 5):
Initial Class		-			-
Class II		(79,062,060	)		(30,259,067	)
Service Class		-			-
Service Class I		1,038,195			(715,507	)
Increase (decrease) in net assets from fund share transactions		(78,023,865	)		(30,974,574	)
Total increase (decrease) in net assets		(65,250,505	)		(18,641,456	)
Net assets
Beginning of period		135,818,132			154,459,588
End of period	$	70,567,627		$	135,818,132
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	2,923,085		$	1,607,936

The accompanying notes are an integral part of the financial statements.

112

MML Foreign Fund						MML Fundamental Growth Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	5,444,607		$	7,698,670		$	566,244		$	1,396,083
	(85,641	)		(10,744,191	)		17,609,527			14,186,025
	40,691,902			7,900,012			3,087,406			(9,193,322	)
	46,050,868			4,854,491			21,263,177			6,388,786
	-			(6,733,929	)		-			-
	-			-			-			(1,164,469	)
	-			(193,084	)		-			-
	-			-			-			(18,624	)
	-			(6,927,013	)		-			(1,183,093	)
	-			-			-			(20,436,093	)
	-			-			-			(412,071	)
	-			-			-			(20,848,164	)
	(16,916,241	)		3,739,806			-			-
	-			-			(48,651,603	)		(2,566,740	)
	(790,539	)		(1,068,302	)		-			-
	-			-			561,598			1,606,362
	(17,706,780	)		2,671,504			(48,090,005	)		(960,378	)
	28,344,088			598,982			(26,826,828	)		(16,602,849	)
	359,067,533			358,468,551			169,446,277			186,049,126
$	387,411,621		$	359,067,533		$	142,619,449		$	169,446,277
$	12,844,288		$	7,399,681		$	1,938,530		$	1,372,286

113

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Fundamental Value Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	1,964,410		$	4,228,593
Net realized gain (loss) on investment transactions		12,361,344			15,832,600
Net change in unrealized appreciation (depreciation) on investments		(1,349,380	)		10,958,344
Net increase (decrease) in net assets resulting from operations		12,976,374			31,019,537
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			-
Class I		-			-
Class II		-			(3,177,117	)
Service Class		-			-
Service Class I		-			(97,403	)
Total distributions from net investment income		-			(3,274,520	)
From net realized gains:
Class I		-			-
Class II		-			(16,431,141	)
Service Class I		-			(574,567	)
Total distributions from net realized gains		-			(17,005,708	)
Net fund share transactions (Note 5):
Initial Class		-			-
Class I		-			-
Class II		(18,694,213	)		(3,697,842	)
Service Class		-			-
Service Class I		1,302,568			1,213,663
Increase (decrease) in net assets from fund share transactions		(17,391,645	)		(2,484,179	)
Total increase (decrease) in net assets		(4,415,271	)		8,255,130
Net assets
Beginning of period		233,120,622			224,865,492
End of period	$	228,705,351		$	233,120,622
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	6,164,582		$	4,200,172

The accompanying notes are an integral part of the financial statements.

114

MML Global Fund						MML Growth & Income Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	1,928,838		$	2,891,952		$	666,883		$	1,304,043
	17,720,777			18,214,796			5,307,280			4,898,883
	17,136,088			(2,058,580	)		9,006,823			4,121,853
	36,785,703			19,048,168			14,980,986			10,324,779
	-			-			-			(1,079,085	)
	-			(2,547,594	)		-			-
	-			(177,958	)		-			-
	-			-			-			(171,221	)
	-			(116,936	)		-			-
	-			(2,842,488	)		-			(1,250,306	)
	-			(17,521,108	)		-			-
	-			(1,198,304	)		-			-
	-			(941,843	)		-			-
	-			(19,661,255	)		-			-
	-			-			(7,136,299	)		(11,230,669	)
	(40,209,042	)		(3,174,455	)		-			-
	(812,401	)		113,343			-			-
	-			-			765,172			2,835,766
	387,439			1,770,763			-			-
	(40,634,004	)		(1,290,349	)		(6,371,127	)		(8,394,903	)
	(3,848,301	)		(4,745,924	)		8,609,859			679,570
	246,583,571			251,329,495			126,054,333			125,374,763
$	242,735,270		$	246,583,571		$	134,664,192		$	126,054,333
$	4,733,530		$	2,804,692		$	1,928,282		$	1,261,399

115

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Income & Growth Fund
	Six Months Ended June 30, 2017 (Unaudited)		Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	2,736,036	$	5,010,804
Net realized gain (loss) on investment transactions		12,972,735		20,795,313
Net change in unrealized appreciation (depreciation) on investments		1,880,107		15,591,554
Net increase (decrease) in net assets resulting from operations		17,588,878		41,397,671
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-		(4,279,358	)
Class II		-		-
Service Class		-		(277,905	)
Service Class I		-		-
Total distributions from net investment income		-		(4,557,263	)
From net realized gains:
Initial Class		-		(21,028,191	)
Class II		-		-
Service Class		-		(1,563,913	)
Service Class I		-		-
Total distributions from net realized gains		-		(22,592,104	)
Net fund share transactions (Note 5):
Initial Class		5,968,736		22,805,308
Class II		-		-
Service Class		1,060,600		2,776,981
Service Class I		-		-
Increase (decrease) in net assets from fund share transactions		7,029,336		25,582,289
Total increase (decrease) in net assets		24,618,214		39,830,593
Net assets
Beginning of period		278,499,721		238,669,128
End of period	$	303,117,935	$	278,499,721
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	7,703,485	$	4,967,449

The accompanying notes are an integral part of the financial statements.

116

MML International Equity Fund					MML Large Cap Growth Fund
Six Months Ended June 30, 2017 (Unaudited)		Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	2,795,666	$	2,708,054		$	428,325		$	414,374
	3,882,737		(15,801,369	)		2,715,082			27,762,845
	18,818,980		25,824,924			15,166,672			(29,371,491	)
	25,497,383		12,731,609			18,310,079			(1,194,272	)
	-		-			-			(231,013	)
	-		(3,276,084	)		-			-
	-		-			-			-
	-		(19,857	)		-			-
	-		(3,295,941	)		-			(231,013	)
	-		-			-			(16,047,562	)
	-		(366,284	)		-			-
	-		-			-			(316,827	)
	-		(2,464	)		-			-
	-		(368,748	)		-			(16,364,389	)
	-		-			(14,045,255	)		(93,549,683	)
	1,634,416		(22,358,626	)		-			-
	-		-			686,897			459,219
	778,025		(488,347	)		-			-
	2,412,441		(22,846,973	)		(13,358,358	)		(93,090,464	)
	27,909,824		(13,780,053	)		4,951,721			(110,880,138	)
	151,816,075		165,596,128			106,919,847			217,799,985
$	179,725,899	$	151,816,075		$	111,871,568		$	106,919,847
$	5,345,383	$	2,549,717		$	807,338		$	379,013

117

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Managed Volatility Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	1,026,459		$	2,324,904
Net realized gain (loss) on investment transactions		(4,616,539	)		(2,400,749	)
Net change in unrealized appreciation (depreciation) on investments		11,591,598			6,540,486
Net increase (decrease) in net assets resulting from operations		8,001,518			6,464,641
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			(2,685,854	)
Service Class		-			(494,437	)
Total distributions from net investment income		-			(3,180,291	)
From net realized gains:
Initial Class		-			(28,897,380	)
Service Class		-			(6,196,954	)
Total distributions from net realized gains		-			(35,094,334	)
Net fund share transactions (Note 5):
Initial Class		(5,952,536	)		15,411,463
Service Class		(421,266	)		4,991,636
Increase (decrease) in net assets from fund share transactions		(6,373,802	)		20,403,099
Total increase (decrease) in net assets		1,627,716			(11,406,885	)
Net assets
Beginning of period		184,105,956			195,512,841
End of period	$	185,733,672		$	184,105,956
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	3,329,683		$	2,303,224

The accompanying notes are an integral part of the financial statements.

118

MML Mid Cap Growth Fund						MML Mid Cap Value Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	(163,204	)	$	(246,544	)	$	2,576,574		$	7,213,214
	32,284,243			44,833,334			24,259,615			27,659,591
	28,521,880			(19,044,476	)		(7,850,900	)		64,330,831
	60,642,919			25,542,314			18,985,289			99,203,636
	-			-			-			(6,934,131	)
	-			-			-			(550,572	)
	-			-			-			(7,484,703	)
	-			(47,049,556	)		-			(41,783,431	)
	-			(9,296,846	)		-			(3,795,883	)
	-			(56,346,402	)		-			(45,579,314	)
	(26,843,487	)		2,845,685			(22,407,109	)		(37,553,607	)
	469,754			9,674,951			942,800			7,738,309
	(26,373,733	)		12,520,636			(21,464,309	)		(29,815,298	)
	34,269,186			(18,283,452	)		(2,479,020	)		16,324,321
	423,980,555			442,264,007			477,193,981			460,869,660
$	458,249,741		$	423,980,555		$	474,714,961		$	477,193,981
$	(316,571	)	$	(153,367	)	$	9,990,705		$	7,414,131

119

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Small Cap Growth Equity Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	(159,399	)	$	(9,127	)
Net realized gain (loss) on investment transactions		10,899,673			8,366,596
Net change in unrealized appreciation (depreciation) on investments		10,887,635			15,347,479
Net increase (decrease) in net assets resulting from operations		21,627,909			23,704,948
Distributions to shareholders (Note 2):
From net investment income:
Initial Class		-			-
Class II		-			-
Service Class		-			-
Service Class I		-			-
Total distributions from net investment income		-			-
From net realized gains:
Initial Class		-			(32,147,623	)
Class II		-			-
Service Class		-			(2,198,947	)
Service Class I		-			-
Total distributions from net realized gains		-			(34,346,570	)
Net fund share transactions (Note 5):
Initial Class		(17,034,737	)		6,283,248
Class II		-			-
Service Class		141,620			2,308,313
Service Class I		-			-
Increase (decrease) in net assets from fund share transactions		(16,893,117	)		8,591,561
Total increase (decrease) in net assets		4,734,792			(2,050,061	)
Net assets
Beginning of period		204,213,733			206,263,794
End of period	$	208,948,525		$	204,213,733
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	(131,846	)	$	27,553

The accompanying notes are an integral part of the financial statements.

120

MML Small Company Value Fund						MML Small/Mid Cap Value Fund
Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
$	187,507		$	645,054		$	498,956		$	1,059,731
	2,217,319			11,762,787			9,655,383			13,034,233
	(991,706	)		16,968,232			(6,772,332	)		36,465,058
	1,413,120			29,376,073			3,382,007			50,559,022
	-			-			-			(1,124,385	)
	-			(555,663	)		-			-
	-			-			-			(53,616	)
	-			(49,139	)		-			-
	-			(604,802	)		-			(1,178,001	)
	-			-			-			(13,026,952	)
	-			(11,625,602	)		-			-
	-			-			-			(1,081,940	)
	-			(1,548,667	)		-			-
	-			(13,174,269	)		-			(14,108,892	)
	-			-			(14,028,425	)		(18,016,276	)
	(3,910,789	)		(12,961,576	)		-			-
	-			-			174,829			940,646
	1,552,311			2,661,360			-			-
	(2,358,478	)		(10,300,216	)		(13,853,596	)		(17,075,630	)
	(945,358	)		5,296,786			(10,471,589	)		18,196,499
	104,194,260			98,897,474			231,412,513			213,216,014
$	103,248,902		$	104,194,260		$	220,940,924		$	231,412,513
$	820,966		$	633,459		$	1,507,158		$	1,008,202

121

MML Series Investment Fund – Financial Statements (Continued)

Statements of Changes in Net Assets

	MML Total Return Bond Fund
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Increase (Decrease) in Net Assets:
Operations:
Net investment income (loss)	$	3,831,594		$	6,105,819
Net realized gain (loss) on investment transactions		(512,246	)		935,899
Net change in unrealized appreciation (depreciation) on investments		5,153,518			530,812
Net increase (decrease) in net assets resulting from operations		8,472,866			7,572,530
Distributions to shareholders (Note 2):
From net investment income:
Class II		-			(5,873,606	)
Service Class I		-			(333,516	)
Total distributions from net investment income		-			(6,207,122	)
Net fund share transactions (Note 5):
Class II		2,613,937			63,034,175
Service Class I		379,308			1,865,939
Increase (decrease) in net assets from fund share transactions		2,993,245			64,900,114
Total increase (decrease) in net assets		11,466,111			66,265,522
Net assets
Beginning of period		412,354,473			346,088,951
End of period	$	423,820,584		$	412,354,473
Undistributed (accumulated) net investment income (loss) included in net assets at end of period	$	12,104,119		$	8,272,525

The accompanying notes are an integral part of the financial statements.

122

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Blue Chip Growth Fund

			Income (loss) from investment operations							Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c			Net realized and unrealized gain (loss) on investments		Total income (loss) from investment operations		From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	13.98	$	0.00	d	$	2.68	$	2.68	$	-		$	-		$	-		$	16.66		19.17%	b	$	291,324		0.79%	a		0.05%	a
12/31/16		15.79		0.00	d		0.13		0.13		-			(1.94	)		(1.94	)		13.98		0.91%			332,688		0.79%			0.03%
12/31/15		17.09		(0.01	)		1.70		1.69		-			(2.99	)		(2.99	)		15.79		11.10%			388,654		0.79%			(0.06%	)
12/31/14		17.35		(0.01	)		1.55		1.54		-			(1.80	)		(1.80	)		17.09		9.13%			390,322		0.79%			(0.09%	)
12/31/13		13.50		(0.00	)d		5.28		5.28		(0.04	)		(1.39	)		(1.43	)		17.35		41.33%			429,689		0.79%			(0.01%	)
12/31/12		11.42		0.03			2.06		2.09		(0.01	)		-			(0.01	)		13.50		18.31%			321,245		0.80%			0.26%
Service Class
6/30/17r	$	13.62	$	(0.01	)	$	2.61	$	2.60	$	-		$	-		$	-		$	16.22		19.09%	b	$	60,267		1.04%	a		(0.19%	)a
12/31/16		15.47		(0.03	)		0.12		0.09		-			(1.94	)		(1.94	)		13.62		0.65%			47,411		1.04%			(0.22%	)
12/31/15		16.85		(0.05	)		1.66		1.61		-			(2.99	)		(2.99	)		15.47		10.76%			42,486		1.04%			(0.31%	)
12/31/14		17.17		(0.06	)		1.54		1.48		-			(1.80	)		(1.80	)		16.85		8.87%			31,721		1.04%			(0.34%	)
12/31/13		13.38		(0.04	)		5.23		5.19		(0.01	)		(1.39	)		(1.40	)		17.17		41.00%			23,273		1.04%			(0.26%	)
12/31/12		11.34		0.01			2.03		2.04		-			-			-			13.38		17.99%			14,895		1.05%			0.06%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		13	%		29	%		31	%		30	%		35	%		25	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

123

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Equity Income Fund

				Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waiver			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	11.78	$	0.12	$	0.54		$	0.66		$	-		$	-		$	-		$	12.44		5.60%	b	$	428,707		0.79%	a		0.76	%a		2.02%	a
12/31/16		11.29		0.27		1.73			2.00			(0.25	)		(1.26	)		(1.51	)		11.78		18.68%			413,304		0.79%			0.77	%		2.33%
12/31/15		13.93		0.25		(1.28	)		(1.03	)		(0.26	)		(1.35	)		(1.61	)		11.29		(6.88%	)		409,298		0.78%			N/A			1.96%
12/31/14		13.47		0.25		0.76			1.01			(0.24	)		(0.31	)		(0.55	)		13.93		7.54%			472,989		0.78%			N/A			1.84%
12/31/13		10.57		0.20		2.93			3.13			(0.23	)		-			(0.23	)		13.47		29.93%			556,649		0.78%			N/A			1.64%
12/31/12		9.20		0.21		1.37			1.58			(0.21	)		-			(0.21	)		10.57		17.32%			478,096		0.79%			N/A			2.12%
Service Class
6/30/17r	$	11.68	$	0.11	$	0.52		$	0.63		$	-		$	-		$	-		$	12.31		5.39%	b	$	79,443		1.04%	a		1.01	%a		1.77%	a
12/31/16		11.20		0.24		1.72			1.96			(0.22	)		(1.26	)		(1.48	)		11.68		18.46%			77,647		1.04%			1.02	%		2.10%
12/31/15		13.83		0.22		(1.27	)		(1.05	)		(0.23	)		(1.35	)		(1.58	)		11.20		(7.10%	)		63,263		1.03%			N/A			1.72%
12/31/14		13.39		0.22		0.74			0.96			(0.21	)		(0.31	)		(0.52	)		13.83		7.23%			63,751		1.03%			N/A			1.58%
12/31/13		10.52		0.17		2.91			3.08			(0.21	)		-			(0.21	)		13.39		29.55%			54,576		1.03%			N/A			1.39%
12/31/12		9.16		0.19		1.36			1.55			(0.19	)		-			(0.19	)		10.52		17.06%			39,397		1.04%			N/A			1.88%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		14	%		22	%		39	%		9	%		15	%		15	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

j Computed after giving effect to an agreement by MML Advisers to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

124

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Equity Index Fund

				Income (loss) from investment operations							Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations		From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000's)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class I
6/30/17r	$	26.53	$	0.22	$	2.20		$	2.42	$	-		$	-		$	-		$	28.95		9.12%	b	$	64,776		0.43%	a		N/A			1.60%	a
12/31/16		24.76		0.44		2.37			2.81		(0.43	)		(0.61	)		(1.04	)		26.53		11.48%			66,343		0.43%			N/A			1.76%
12/31/15		25.52		0.42		(0.23	)		0.19		(0.38	)		(0.57	)		(0.95	)		24.76		0.95%			74,631		0.43%			N/A			1.67%
12/31/14		23.14		0.38		2.65			3.03		(0.33	)		(0.32	)		(0.65	)		25.52		13.17%			84,445		0.44%			N/A			1.58%
12/31/13		17.89		0.34		5.30			5.64		(0.33	)		(0.06	)		(0.39	)		23.14		31.84%			92,853		0.44%			0.44	%l		1.65%
12/31/12		15.73		0.32		2.11			2.43		(0.27	)		-			(0.27	)		17.89		15.47%			79,070		0.45%			0.45	%l		1.84%
Class II
6/30/17r	$	26.55	$	0.24	$	2.20		$	2.44	$	-		$	-		$	-		$	28.99		9.19%	b	$	189,117		0.28%	a		N/A			1.75%	a
12/31/16		24.80		0.48		2.36			2.84		(0.48	)		(0.61	)		(1.09	)		26.55		11.62%			175,525		0.28%			N/A			1.91%
12/31/15		25.56		0.47		(0.23	)		0.24		(0.43	)		(0.57	)		(1.00	)		24.80		1.17%			164,515		0.30%			0.28	%		1.83%
12/31/14		23.19		0.42		2.65			3.07		(0.38	)		(0.32	)		(0.70	)		25.56		13.35%			154,210		0.33%			0.28	%		1.74%
12/31/13		17.93		0.37		5.31			5.68		(0.36	)		(0.06	)		(0.42	)		23.19		32.02%			141,468		0.33%			0.28	%		1.81%
12/31/12		15.76		0.35		2.12			2.47		(0.30	)		-			(0.30	)		17.93		15.69%			109,646		0.34%			0.29	%		2.00%
Class III
6/30/17r	$	26.51	$	0.27	$	2.19		$	2.46	$	-		$	-		$	-		$	28.97		9.28%	b	$	396,672		0.13%	a		N/A			1.92%	a
12/31/16		24.78		0.52		2.34			2.86		(0.52	)		(0.61	)		(1.13	)		26.51		11.69%			279,941		0.13%			N/A			2.05%
12/31/15		25.54		0.50		(0.22	)		0.28		(0.47	)		(0.57	)		(1.04	)		24.78		1.32%			172,992		0.15%			0.13	%		1.97%
12/31/14		23.16		0.46		2.65			3.11		(0.41	)		(0.32	)		(0.73	)		25.54		13.54%			173,459		0.19%			0.14	%		1.88%
12/31/13		17.91		0.40		5.29			5.69		(0.38	)		(0.06	)		(0.44	)		23.16		32.17%			155,356		0.19%			0.14	%		1.95%
12/31/12		15.74		0.37		2.12			2.49		(0.32	)		-			(0.32	)		17.91		15.87%			119,034		0.20%			0.15	%		2.14%
Service Class I
6/30/17r	$	25.84	$	0.18	$	2.13		$	2.31	$	-		$	-		$	-		$	28.15		8.98%	b	$	45,548		0.68%	a		N/A			1.36%	a
12/31/16		24.16		0.37		2.31			2.68		(0.39	)		(0.61	)		(1.00	)		25.84		11.24%			42,165		0.68%			N/A			1.51%
12/31/15		24.98		0.35		(0.23	)		0.12		(0.37	)		(0.57	)		(0.94	)		24.16		0.70%			38,691		0.68%			N/A			1.43%
12/31/14		22.72		0.32		2.59			2.91		(0.33	)		(0.32	)		(0.65	)		24.98		12.92%			32,075		0.69%			N/A			1.34%
12/31/13		17.62		0.29		5.20			5.49		(0.33	)		(0.06	)		(0.39	)		22.72		31.49%			21,443		0.69%			0.69	%l		1.40%
12/31/12		15.53		0.28		2.08			2.36		(0.27	)		-			(0.27	)		17.62		15.21%			10,229		0.70%			0.70	%l		1.63%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		2	%		8	%		4	%		3	%		4	%		3	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

125

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Focused Equity Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gain			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class II
6/30/17r	$	13.20	$	0.18	$	1.43		$	1.61		$	-		$	-		$	-		$	14.81		12.20%	b	$	61,827		0.92%	a		N/A			2.53%	a
12/31/16		12.15		0.13		1.96			2.09			(0.20	)		(0.84	)		(1.04	)		13.20		17.96%			128,990		0.90%			N/A			1.11%
12/31/15		15.97		0.21		(1.71	)		(1.50	)		(0.28	)		(2.04	)		(2.32	)		12.15		(8.93%	)		147,436		0.90%			N/A			1.43%
12/31/14		15.64		0.29		1.59			1.88			(0.06	)		(1.49	)		(1.55	)		15.97		12.24%			160,206		0.90%			N/A			1.86%
12/31/13		11.49		0.05		4.29			4.34			-			(0.19	)		(0.19	)		15.64		38.05%			166,655		0.90%			0.90	%l		0.40%
12/31/12		10.03		0.09		1.98			2.07			(0.09	)		(0.52	)		(0.61	)		11.49		20.61%			136,305		0.90%			0.90	%k		0.76%
Service Class I
6/30/17r	$	13.11	$	0.14	$	1.43		$	1.57		$	-		$	-		$	-		$	14.68		11.98%	b	$	8,740		1.17%	a		N/A			1.99%	a
12/31/16		12.06		0.10		1.95			2.05			(0.16	)		(0.84	)		(1.00	)		13.11		17.74%			6,829		1.15%			N/A			0.87%
12/31/15		15.87		0.17		(1.69	)		(1.52	)		(0.25	)		(2.04	)		(2.29	)		12.06		(9.16%	)		7,023		1.15%			N/A			1.20%
12/31/14		15.58		0.22		1.61			1.83			(0.05	)		(1.49	)		(1.54	)		15.87		11.97%			7,289		1.15%			N/A			1.39%
12/31/13		11.48		0.02		4.27			4.29			-			(0.19	)		(0.19	)		15.58		37.64%			4,960		1.15%			1.15	%k		0.18%
12/31/12h		11.54		0.07		0.47			0.54			(0.08	)		(0.52	)		(0.60	)		11.48		4.68%	b		818		1.15%	a		1.15	%a,l		0.91%	a

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		79	%		37	%		52	%		35	%		28	%		34	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

h For the period May 1, 2012 (commencement of operations) through December 31, 2012.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

k Amount waived had no impact on the ratio of expenses to average daily net assets.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

126

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Foreign Fund

			Income (loss) from investment operations								Less distributions to shareholders											Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	9.44	$	0.15	$	1.08		$	1.23		$	-		$	-		$	10.67		13.03%	b	$	376,686		0.97%	a		2.92%	a
12/31/16		9.49		0.20		(0.07	)		0.13			(0.18	)		(0.18	)		9.44		1.44%			348,836		0.97%			2.22%
12/31/15		10.22		0.20		(0.63	)		(0.43	)		(0.30	)		(0.30	)		9.49		(4.26%	)		347,072		0.97%			1.89%
12/31/14		11.22		0.34		(1.09	)		(0.75	)		(0.25	)		(0.25	)		10.22		(6.97%	)		328,045		0.97%			3.09%
12/31/13		9.47		0.20		1.75			1.95			(0.20	)		(0.20	)		11.22		20.80%			412,363		0.97%			2.00%
12/31/12		8.13		0.21		1.32			1.53			(0.19	)		(0.19	)		9.47		19.06%			355,174		0.97%			2.38%
Service Class
6/30/17r	$	9.38	$	0.13	$	1.08		$	1.21		$	-		$	-		$	10.59		12.90%	b	$	10,726		1.22%	a		2.64%	a
12/31/16		9.43		0.18		(0.07	)		0.11			(0.16	)		(0.16	)		9.38		1.18%			10,231		1.22%			2.02%
12/31/15		10.16		0.17		(0.62	)		(0.45	)		(0.28	)		(0.28	)		9.43		(4.51%	)		11,396		1.22%			1.59%
12/31/14		11.16		0.30		(1.07	)		(0.77	)		(0.23	)		(0.23	)		10.16		(7.07%	)		11,089		1.22%			2.72%
12/31/13		9.43		0.17		1.74			1.91			(0.18	)		(0.18	)		11.16		20.42%			8,350		1.22%			1.71%
12/31/12		8.10		0.18		1.32			1.50			(0.17	)		(0.17	)		9.43		18.74%			6,756		1.22%			2.13%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		6	%		19	%		12	%		13	%t		20	%		15	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

t The portfolio turnover rate was not impacted as a result of the cash merger.

The accompanying notes are an integral part of the financial statements.

127

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Fundamental Growth Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class II
6/30/17r	$	11.42	$	0.04	$	1.52		$	1.56		$	-		$	-		$	-		$	12.98		13.66%	b	$	137,198		0.84%	a		0.84%	a,l		0.71%	a
12/31/16		12.53		0.09		0.36			0.45			(0.08	)		(1.48	)		(1.56	)		11.42		3.73%			165,183		0.83%			0.83%	l		0.79%
12/31/15		14.89		0.09		0.64			0.73			(0.13	)		(2.96	)		(3.09	)		12.53		6.22%			183,094		0.84%			0.84%	l		0.63%
12/31/14		14.46		0.12		1.44			1.56			(0.11	)		(1.02	)		(1.13	)		14.89		11.06%			207,086		0.86%			0.85%			0.81%
12/31/13		10.94		0.09		3.44			3.53			-			(0.01	)		(0.01	)		14.46		32.29%			236,837		0.86%			0.85%			0.72%
12/31/12		9.95		0.09		1.23			1.32			(0.09	)		(0.24	)		(0.33	)		10.94		13.14%			179,834		0.87%			0.85%			0.79%
Service Class I
6/30/17r	$	11.29	$	0.03	$	1.49		$	1.52		$	-		$	-		$	-		$	12.81		13.46%	b	$	5,421		1.09%	a		1.09%	a,l		0.46%	a
12/31/16		12.41		0.06		0.37			0.43			(0.07	)		(1.48	)		(1.55	)		11.29		3.54%			4,263		1.08%			1.08%	l		0.54%
12/31/15		14.80		0.05		0.63			0.68			(0.11	)		(2.96	)		(3.07	)		12.41		5.91%			2,955		1.09%			1.09%	l		0.36%
12/31/14		14.40		0.09		1.43			1.52			(0.10	)		(1.02	)		(1.12	)		14.80		10.81%			2,214		1.11%			1.10%			0.59%
12/31/13		10.92		0.06		3.43			3.49			-			(0.01	)		(0.01	)		14.40		31.98%			1,353		1.11%			1.10%			0.45%
12/31/12h		11.50		0.07		(0.33	)		(0.26	)		(0.08	)		(0.24	)		(0.32	)		10.92		(2.32%	)b		518		1.12%	a		1.10%	a		0.94%	a

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		17	%		49	%		44	%		51	%		61	%		66	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

h For the period May 1, 2012 (commencement of operations) through December 31, 2012.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

128

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Fundamental Value Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class II
6/30/17r	$	14.74	$	0.13	$	0.74		$	0.87		$	-		$	-		$	-		$	15.61		5.90%	b	$	217,518		0.80%	a		N/A			1.78%	a
12/31/16		14.20		0.26		1.56			1.82			(0.21	)		(1.07	)		(1.28	)		14.74		13.25%			223,801		0.79%			N/A			1.81%
12/31/15		16.20		0.23		(0.76	)		(0.53	)		(0.22	)		(1.25	)		(1.47	)		14.20		(2.88%	)		217,109		0.79%			N/A			1.51%
12/31/14		15.46		0.23		1.47			1.70			(0.25	)		(0.71	)		(0.96	)		16.20		11.19%			219,679		0.79%			N/A			1.47%
12/31/13		12.45		0.23		3.54			3.77			(0.25	)		(0.51	)		(0.76	)		15.46		30.91%			233,724		0.79%			0.79	%l		1.61%
12/31/12		10.88		0.24		1.53			1.77			(0.17	)		(0.03	)		(0.20	)		12.45		16.31%			185,473		0.80%			0.80	%l		1.98%
Service Class I
6/30/17r	$	14.57	$	0.11	$	0.72		$	0.83		$	-		$	-		$	-		$	15.40		5.70%	b	$	11,188		1.05%	a		N/A			1.52%	a
12/31/16		14.05		0.22		1.55			1.77			(0.18	)		(1.07	)		(1.25	)		14.57		13.05%			9,319		1.04%			N/A			1.55%
12/31/15		16.07		0.19		(0.76	)		(0.57	)		(0.20	)		(1.25	)		(1.45	)		14.05		(3.18%	)		7,757		1.04%			N/A			1.26%
12/31/14		15.37		0.19		1.47			1.66			(0.25	)		(0.71	)		(0.96	)		16.07		10.98%			5,611		1.04%			N/A			1.21%
12/31/13		12.42		0.19		3.52			3.71			(0.25	)		(0.51	)		(0.76	)		15.37		30.55%			2,650		1.04%			1.04	%l		1.28%
12/31/12h		12.16		0.14		0.33			0.47			(0.18	)		(0.03	)		(0.21	)		12.42		3.90%	b		381		1.05%	a		1.05	%a,l		1.78%	a

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		11	%		20	%		19	%		14	%		22	%		24	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

h For the period May 1, 2012 (commencement of operations) through December 31, 2012.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

l Expenses incurred during the period fell under the expense cap.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

129

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Global Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class I
6/30/17r	$	11.54	$	0.10	$	1.72		$	1.82		$	-		$	-		$	-		$	13.36		15.77%	b	$	210,865		0.82%	a		N/A			1.56%	a
12/31/16		11.74		0.14		0.76			0.90			(0.14	)		(0.96	)		(1.10	)		11.54		7.55%			218,698		0.82%			N/A			1.18%
12/31/15		12.61		0.14		(0.33	)		(0.19	)		(0.14	)		(0.54	)		(0.68	)		11.74		(1.36%	)		224,808		0.86%			0.85	%		1.13%
12/31/14		12.44		0.16		0.33			0.49			(0.11	)		(0.21	)		(0.32	)		12.61		3.95%			210,395		0.95%			0.90	%		1.29%
12/31/13		9.82		0.12		2.63			2.75			(0.13	)		-			(0.13	)		12.44		28.13%			149,796		0.96%			0.90	%		1.10%
12/31/12		8.02		0.12		1.77			1.89			(0.09	)		-			(0.09	)		9.82		23.69%			131,665		0.98%			0.90	%		1.33%
Class II
6/30/17r	$	11.74	$	0.10	$	1.76		$	1.86		$	-		$	-		$	-		$	13.60		15.84%	b	$	17,383		0.82%	a		N/A			1.60%	a
12/31/16		11.93		0.14		0.77			0.91			(0.14	)		(0.96	)		(1.10	)		11.74		7.54%			15,757		0.82%			N/A			1.17%
12/31/15		12.81		0.15		(0.34	)		(0.19	)		(0.15	)		(0.54	)		(0.69	)		11.93		(1.35%	)		15,876		0.83%			0.81	%		1.13%
12/31/14		12.63		0.17		0.33			0.50			(0.11	)		(0.21	)		(0.32	)		12.81		4.00%			17,481		0.85%			0.80	%		1.35%
12/31/13		9.96		0.14		2.66			2.80			(0.13	)		-			(0.13	)		12.63		28.34%			18,681		0.86%			0.80	%		1.21%
12/31/12		8.13		0.13		1.80			1.93			(0.10	)		-			(0.10	)		9.96		23.79%			16,324		0.88%			0.80	%		1.45%
Service Class I
6/30/17r	$	11.43	$	0.08	$	1.71		$	1.79		$	-		$	-		$	-		$	13.22		15.66%	b	$	14,487		1.07%	a		N/A			1.37%	a
12/31/16		11.65		0.10		0.76			0.86			(0.12	)		(0.96	)		(1.08	)		11.43		7.25%			12,129		1.07%			N/A			0.89%
12/31/15		12.52		0.10		(0.31	)		(0.21	)		(0.12	)		(0.54	)		(0.66	)		11.65		(1.55%	)		10,646		1.11%			1.10	%		0.84%
12/31/14		12.38		0.12		0.32			0.44			(0.09	)		(0.21	)		(0.30	)		12.52		3.57%			9,220		1.20%			1.15	%		1.00%
12/31/13		9.78		0.09		2.63			2.72			(0.12	)		-			(0.12	)		12.38		27.94%			6,657		1.21%			1.15	%		0.82%
12/31/12		8.00		0.09		1.77			1.86			(0.08	)		-			(0.08	)		9.78		23.35%			3,707		1.23%			1.15	%		1.03%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		5	%		15	%		17	%		12	%		11	%		11	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

130

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Growth & Income Fund

			Income (loss) from investment operations							Less distributions to shareholders											Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations		From net investment income			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	14.19	$	0.08	$	1.64		$	1.72	$	-		$	-		$	15.91		12.12%	b	$	107,899		0.56%	a		1.06%	a
12/31/16		13.18		0.15		1.00			1.15		(0.14	)		(0.14	)		14.19		8.77%			102,858		0.56%			1.10%
12/31/15		13.28		0.14		(0.08	)		0.06		(0.16	)		(0.16	)		13.18		0.49%			106,578		0.56%			1.01%
12/31/14		12.08		0.14		1.20			1.34		(0.14	)		(0.14	)		13.28		11.19%			121,667		0.56%			1.16%
12/31/13		9.24		0.13		2.85			2.98		(0.14	)		(0.14	)		12.08		32.53%			129,107		0.57%			1.22%
12/31/12		7.83		0.13		1.39			1.52		(0.11	)		(0.11	)		9.24		19.49%			116,115		0.58%			1.46%
Service Class
6/30/17r	$	14.10	$	0.06	$	1.63		$	1.69	$	-		$	-		$	15.79		11.99%	b	$	26,766		0.81%	a		0.82%	a
12/31/16		13.10		0.11		1.00			1.11		(0.11	)		(0.11	)		14.10		8.50%			23,197		0.81%			0.85%
12/31/15		13.21		0.10		(0.08	)		0.02		(0.13	)		(0.13	)		13.10		0.18%			18,797		0.81%			0.76%
12/31/14		12.02		0.11		1.20			1.31		(0.12	)		(0.12	)		13.21		10.94%			18,929		0.81%			0.91%
12/31/13		9.20		0.10		2.84			2.94		(0.12	)		(0.12	)		12.02		32.20%			17,142		0.82%			0.97%
12/31/12		7.79		0.11		1.39			1.50		(0.09	)		(0.09	)		9.20		19.32%			12,385		0.83%			1.21%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		7	%		17	%		17	%		20	%		19	%		26	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

131

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Income & Growth Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	11.86	$	0.12	$	0.64		$	0.76		$	-		$	-		$	-		$	12.62		6.41%	b	$	280,109		0.70%	a		1.95%	a
12/31/16		11.35		0.22		1.55			1.77			(0.21	)		(1.05	)		(1.26	)		11.86		16.40%			257,874		0.69%			1.97%
12/31/15		12.44		0.23		(0.31	)		(0.08	)		(0.24	)		(0.77	)		(1.01	)		11.35		(0.09%	)		221,763		0.69%			1.90%
12/31/14		11.60		0.23		0.83			1.06			(0.22	)		-			(0.22	)		12.44		9.22%			232,187		0.70%			1.91%
12/31/13		9.48		0.22		2.09			2.31			(0.19	)		-			(0.19	)		11.60		24.62%			228,095		0.70%			2.07%
12/31/12		8.56		0.23		0.79			1.02			(0.10	)		-			(0.10	)		9.48		11.96%			171,207		0.72%			2.51%
Service Class
6/30/17r	$	11.74	$	0.10	$	0.64		$	0.74		$	-		$	-		$	-		$	12.48		6.30%	b	$	23,009		0.95%	a		1.70%	a
12/31/16		11.25		0.19		1.54			1.73			(0.19	)		(1.05	)		(1.24	)		11.74		16.10%			20,626		0.94%			1.71%
12/31/15		12.34		0.20		(0.31	)		(0.11	)		(0.21	)		(0.77	)		(0.98	)		11.25		(0.35%	)		16,906		0.94%			1.65%
12/31/14		11.51		0.20		0.83			1.03			(0.20	)		-			(0.20	)		12.34		8.96%			16,131		0.95%			1.66%
12/31/13		9.42		0.20		2.06			2.26			(0.17	)		-			(0.17	)		11.51		24.22%			14,775		0.95%			1.82%
12/31/12		8.51		0.20		0.80			1.00			(0.09	)		-			(0.09	)		9.42		11.73%			11,282		0.97%			2.23%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		19	%		30	%		27	%		19	%		15	%		3	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

132

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML International Equity Fund

			Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class II
6/30/17r	$	9.33	$	0.17	$	1.41		$	1.58		$	-		$	-		$	-		$	10.91		16.93%	b	$	177,678		1.09%	a		1.00%	a		3.38%	a
12/31/16		8.81		0.15		0.56			0.71			(0.17	)		(0.02	)		(0.19	)		9.33		8.27%			150,753		1.07%			1.00%			1.70%
12/31/15		9.27		0.15		(0.59	)		(0.44	)		(0.02	)		-			(0.02	)		8.81		(4.77%	)		164,083		1.09%			1.00%			1.59%
12/31/14g		10.00		0.18		(0.65	)		(0.47	)		(0.20	)		(0.06	)		(0.26	)		9.27		(4.67%	)b		123,915		1.15%	a		1.00%	a		1.79%	a
Service Class I
6/30/17r	$	9.29	$	0.17	$	1.39		$	1.56		$	-		$	-		$	-		$	10.85		16.79%	b	$	2,048		1.34%	a		1.25%	a		3.36%	a
12/31/16		8.78		0.13		0.56			0.69			(0.16	)		(0.02	)		(0.18	)		9.29		7.97%			1,063		1.32%			1.25%			1.50%
12/31/15		9.27		0.10		(0.57	)		(0.47	)		(0.02	)		-			(0.02	)		8.78		(5.10%	)		1,513		1.35%			1.25%			1.11%
12/31/14h		10.29		0.07		(0.83	)		(0.76	)		(0.20	)		(0.06	)		(0.26	)		9.27		(7.44%	)b		298		1.36%	a		1.25%	a		1.08%	a

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014
Portfolio turnover rate		25	%		50	%		46	%		39	%b,g

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

g For the period January 7, 2014 (commencement of operations) through December 31, 2014.

h For the period May 1, 2014 (commencement of operations) through December 31, 2014.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

133

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Large Cap Growth Fund

			Income (loss) from investment operations									Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c			Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	10.63	$	0.05		$	1.88		$	1.93		$	-		$	-		$	-		$	12.56		18.16%	b	$	106,894		0.72%	a		0.79%	a
12/31/16		11.70		0.03			(0.06	)		(0.03	)		(0.01	)		(1.03	)		(1.04	)		10.63		(0.38%	)		103,315		0.70%			0.24%
12/31/15		14.06		0.01			0.58			0.59			-			(2.95	)		(2.95	)		11.70		5.12%			214,299		0.69%			0.10%
12/31/14		14.63		(0.01	)		1.36			1.35			-			(1.92	)		(1.92	)		14.06		9.51%			242,229		0.69%			(0.07%	)
12/31/13		11.62		0.00	d		3.76			3.76			(0.05	)		(0.70	)		(0.75	)		14.63		33.54%			268,330		0.70%			0.00%	e
12/31/12		10.04		0.05			1.54			1.59			(0.01	)		-			(0.01	)		11.62		15.81%			205,833		0.70%			0.49%
Service Class
6/30/17r	$	10.41	$	0.03		$	1.83		$	1.86		$	-		$	-		$	-		$	12.27		17.87%	b	$	4,977		0.97%	a		0.53%	a
12/31/16		11.48		(0.00	)d		(0.04	)		(0.04	)		-			(1.03	)		(1.03	)		10.41		(0.52%	)		3,604		0.95%			(0.02%	)
12/31/15		13.89		(0.02	)		0.56			0.54			-			(2.95	)		(2.95	)		11.48		4.80%			3,501		0.94%			(0.15%	)
12/31/14		14.51		(0.04	)		1.34			1.30			-			(1.92	)		(1.92	)		13.89		9.23%			2,726		0.94%			(0.29%	)
12/31/13		11.53		(0.03	)		3.73			3.70			(0.02	)		(0.70	)		(0.72	)		14.51		33.24%			1,849		0.95%			(0.25%	)
12/31/12		9.99		0.03			1.51			1.54			-			-			-			11.53		15.42%			1,439		0.95%			0.25%

	Six months ended June 30,  2017b,ee,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		0	%		134	%		73	%		77	%		89	%		91	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

e Amount is less than 0.005%.

ee Amount is less than 0.5%

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

134

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Managed Volatility Fund

			Income (loss) from investment operations						Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments		Total income (loss) from investment operations		From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	11.74	$	0.07	$	0.45	$	0.52	$	-		$	-		$	-		$	12.26		4.44%	b	$	152,193		0.90%	a		1.16%	a
12/31/16		14.27		0.17		0.31		0.48		(0.26	)		(2.75	)		(3.01	)		11.74		3.69%			151,537		0.91%			1.29%
12/31/15		14.11		0.17		0.25		0.42		(0.26	)		-			(0.26	)		14.27		3.01%			162,332		0.89%			1.18%
12/31/14		14.33		0.16		0.46		0.62		(0.10	)		(0.74	)		(0.84	)		14.11		4.41%			336,931		0.90%			1.14%
12/31/13		12.34		0.16		2.02		2.18		(0.19	)		-			(0.19	)		14.33		17.78%			203,330		0.88%			1.19%
12/31/12		10.98		0.17		1.27		1.44		(0.08	)		-			(0.08	)		12.34		13.19%			193,271		0.83%			1.43%
Service Class
6/30/17r	$	11.64	$	0.05	$	0.45	$	0.50	$	-		$	-		$	-		$	12.14		4.31%	b	$	33,541		1.15%	a		0.91%	a
12/31/16		14.18		0.14		0.29		0.43		(0.22	)		(2.75	)		(2.97	)		11.64		3.42%			32,569		1.16%			1.04%
12/31/15		14.02		0.14		0.24		0.38		(0.22	)		-			(0.22	)		14.18		2.79%			33,180		1.14%			0.95%
12/31/14		14.25		0.13		0.45		0.58		(0.07	)		(0.74	)		(0.81	)		14.02		4.14%			31,812		1.15%			0.88%
12/31/13		12.27		0.13		2.02		2.15		(0.17	)		-			(0.17	)		14.25		17.56%			28,423		1.13%			0.95%
12/31/12		10.93		0.14		1.26		1.40		(0.06	)		-			(0.06	)		12.27		12.83%			22,660		1.08%			1.21%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		1	%		4	%		3	%		14	%		94	%		11	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

135

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Mid Cap Growth Fund

				Income (loss) from investment operations							Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c			Net realized and unrealized gain (loss) on investments		Total income (loss) from investment operations		From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	14.35	$	(0.00	)d	$	2.11	$	2.11	$	-		$	-		$	-		$	16.46		14.70%	b	$	376,190		0.81%	a		(0.03%	)a
12/31/16		15.50		(0.00	)d		0.97		0.97		-			(2.12	)		(2.12	)		14.35		6.29%			352,754		0.81%			(0.02%	)
12/31/15		16.41		(0.01	)		1.05		1.04		-			(1.95	)		(1.95	)		15.50		6.78%			375,328		0.81%			(0.07%	)
12/31/14		16.59		(0.03	)		2.11		2.08		-			(2.26	)		(2.26	)		16.41		13.27%			377,028		0.81%			(0.17%	)
12/31/13		12.96		(0.03	)		4.65		4.62		(0.04	)		(0.95	)		(0.99	)		16.59		36.69%			371,803		0.81%			(0.21%	)
12/31/12		12.08		0.01			1.63		1.64		-			(0.76	)		(0.76	)		12.96		13.78%			330,731		0.82%			0.04%
Service Class
6/30/17r	$	13.95	$	(0.02	)	$	2.05	$	2.03	$	-		$	-		$	-		$	15.98		14.55%	b	$	82,059		1.06%	a		(0.28%	)a
12/31/16		15.16		(0.04	)		0.95		0.91		-			(2.12	)		(2.12	)		13.95		6.02%			71,227		1.06%			(0.27%	)
12/31/15		16.12		(0.05	)		1.04		0.99		-			(1.95	)		(1.95	)		15.16		6.59%			66,936		1.06%			(0.31%	)
12/31/14		16.38		(0.07	)		2.07		2.00		-			(2.26	)		(2.26	)		16.12		12.93%			56,457		1.06%			(0.42%	)
12/31/13		12.81		(0.07	)		4.61		4.54		(0.02	)		(0.95	)		(0.97	)		16.38		36.40%			43,873		1.06%			(0.45%	)
12/31/12		11.98		(0.02	)		1.61		1.59		-			(0.76	)		(0.76	)		12.81		13.47%			29,154		1.07%			(0.19%	)

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		15	%		29	%		35	%		25	%		26	%		31	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

136

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Mid Cap Value Fund

				Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	11.79	$	0.07	$	0.42		$	0.49		$	-		$	-		$	-		$	12.28		4.16%	b	$	427,891		0.88%	a		1.12%	a
12/31/16		10.74		0.17		2.22			2.39			(0.19	)		(1.15	)		(1.34	)		11.79		23.23%			433,046		0.88%			1.55%
12/31/15		13.12		0.16		(0.43	)		(0.27	)		(0.25	)		(1.86	)		(2.11	)		10.74		(1.45%	)		427,920		0.88%			1.26%
12/31/14		13.65		0.19		1.97			2.16			(0.24	)		(2.45	)		(2.69	)		13.12		16.66%			465,533		0.88%			1.39%
12/31/13		11.11		0.20		3.09			3.29			(0.24	)		(0.51	)		(0.75	)		13.65		30.43%			467,386		0.88%			1.57%
12/31/12		10.17		0.23		1.42			1.65			(0.18	)		(0.53	)		(0.71	)		11.11		16.70%			437,725		0.89%			2.12%
Service Class
6/30/17r	$	11.63	$	0.05	$	0.41		$	0.46		$	-		$	-		$	-		$	12.09		3.96%	b	$	46,824		1.13%	a		0.89%	a
12/31/16		10.62		0.15		2.18			2.33			(0.17	)		(1.15	)		(1.32	)		11.63		22.86%			44,148		1.13%			1.35%
12/31/15		12.99		0.12		(0.41	)		(0.29	)		(0.22	)		(1.86	)		(2.08	)		10.62		(1.60%	)		32,950		1.13%			1.03%
12/31/14		13.55		0.16		1.94			2.10			(0.21	)		(2.45	)		(2.66	)		12.99		16.33%			30,017		1.13%			1.16%
12/31/13		11.04		0.17		3.07			3.24			(0.22	)		(0.51	)		(0.73	)		13.55		30.11%			23,348		1.13%			1.33%
12/31/12		10.12		0.20		1.41			1.61			(0.16	)		(0.53	)		(0.69	)		11.04		16.37%			16,241		1.14%			1.89%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		18	%		52	%		68	%		66	%		71	%		81	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

137

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Small Cap Growth Equity Fund

				Income (loss) from investment operations									Less distributions to shareholders											Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j			Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000's)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	12.69	$	(0.01	)	$	1.41		$	1.40		$	-		$	-		$	14.09		11.02	%b	$	194,428		1.09	%a		N/A			(0.14	%)a
12/31/16		13.51		0.00	d		1.59			1.59			(2.41	)		(2.41	)		12.69		12.74	%		191,245		1.10	%		N/A			0.01	%
12/31/15		17.85		(0.04	)		(0.74	)		(0.78	)		(3.56	)		(3.56	)		13.51		(5.11	%)		194,889		1.09	%		N/A			(0.22	%)
12/31/14		22.81		(0.09	)		1.21			1.12			(6.08	)		(6.08	)		17.85		5.92	%		253,096		1.08	%		N/A			(0.43	%)
12/31/13		16.30		(0.08	)		7.79			7.71			(1.20	)		(1.20	)		22.81		48.54	%		273,041		1.10	%		1.08	%		(0.43	%)
12/31/12		16.05		(0.06	)		2.17			2.11			(1.86	)		(1.86	)		16.30		13.41	%		256,961		1.13	%		1.12	%		(0.38	%)
Service Class
6/30/17r	$	12.14	$	(0.02	)	$	1.34		$	1.32		$	-		$	-		$	13.46		10.89	%b	$	14,521		1.34	%a		N/A			(0.38	%)a
12/31/16		13.05		(0.03	)		1.53			1.50			(2.41	)		(2.41	)		12.14		12.46	%		12,969		1.35	%		N/A			(0.23	%)
12/31/15		17.40		(0.07	)		(0.72	)		(0.79	)		(3.56	)		(3.56	)		13.05		(5.33	%)		11,375		1.34	%		N/A			(0.46	%)
12/31/14		22.44		(0.13	)		1.17			1.04			(6.08	)		(6.08	)		17.40		5.62	%		9,977		1.33	%		N/A			(0.67	%)
12/31/13		16.09		(0.13	)		7.68			7.55			(1.20	)		(1.20	)		22.44		48.17	%		7,871		1.35	%		1.34	%		(0.69	%)
12/31/12		15.91		(0.10	)		2.14			2.04			(1.86	)		(1.86	)		16.09		13.07	%		5,837		1.38	%		1.37	%		(0.63	%)

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		39	%		105	%		78	%		78	%		86	%		90	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

138

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Small Company Value Fund

			Income (loss) from investment operations									Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j			Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waivers			Ratio of expenses to average daily net assets after expense waiversj			Net investment income (loss) to average daily net assets
Class II
6/30/17r	$	17.23	$	0.03		$	0.21		$	0.24		$	-		$	-		$	-		$	17.47		1.39%	b	$	86,009		1.02%	a		0.97%	a		0.40%	a
12/31/16		14.88		0.10			4.44			4.54			(0.10	)		(2.09	)		(2.19	)		17.23		32.46%			88,729		1.02%			0.97%			0.66%
12/31/15		17.59		0.10			(1.06	)		(0.96	)		(0.06	)		(1.69	)		(1.75	)		14.88		(5.36%	)		88,068		1.09%			1.05%			0.62%
12/31/14		23.88		0.05			(0.01	)		0.04			-			(6.33	)		(6.33	)		17.59		0.47%			95,788		1.17%			1.15%			0.26%
12/31/13		18.86		(0.01	)		5.87			5.86			(0.26	)		(0.58	)		(0.84	)		23.88		31.71%			97,840		1.16%			1.15%			(0.04%	)
12/31/12		16.83		0.19			2.34			2.53			(0.00	)d		(0.50	)		(0.50	)		18.86		15.20%			114,274		1.17%			1.15%			1.05%
Service Class I
6/30/17r	$	16.83	$	0.01		$	0.21		$	0.22		$	-		$	-		$	-		$	17.05		1.31%	b	$	17,239		1.27%	a		1.22%	a		0.16%	a
12/31/16		14.58		0.07			4.34			4.41			(0.07	)		(2.09	)		(2.16	)		16.83		32.16%			15,465		1.27%			1.22%			0.44%
12/31/15		17.29		0.06			(1.06	)		(1.00	)		(0.02	)		(1.69	)		(1.71	)		14.58		(5.65%	)		10,829		1.33%			1.30%			0.37%
12/31/14		23.63		0.00	d		(0.01	)		(0.01	)		-			(6.33	)		(6.33	)		17.29		0.24%			10,726		1.42%			1.40%			0.02%
12/31/13		18.70		(0.05	)		5.79			5.74			(0.23	)		(0.58	)		(0.81	)		23.63		31.34%			9,944		1.41%			1.40%			(0.23%	)
12/31/12		16.73		0.15			2.32			2.47			-			(0.50	)		(0.50	)		18.70		14.99%			6,354		1.42%			1.40%			0.86%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		6	%		23	%		44	%		22	%		12	%		14	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

139

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Small/Mid Cap Value Fund

				Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets			Net investment income (loss) to average daily net assets
Initial Class
6/30/17r	$	13.23	$	0.03	$	0.17		$	0.20		$	-		$	-		$	-		$	13.43		1.51%	b	$	200,934		0.79%	a		0.48%	a
12/31/16		11.34		0.06		2.70			2.76			(0.07	)		(0.80	)		(0.87	)		13.23		25.10%			211,849		0.79%			0.51%
12/31/15		14.69		0.07		(0.89	)		(0.82	)		(0.11	)		(2.42	)		(2.53	)		11.34		(5.53%	)		197,297		0.79%			0.50%
12/31/14		13.80		0.11		1.19			1.30			(0.09	)		(0.32	)		(0.41	)		14.69		9.45%			236,399		0.79%			0.80%
12/31/13		10.06		0.09		3.74			3.83			(0.09	)		-			(0.09	)		13.80		38.18%			257,210		0.80%			0.74%
12/31/12		8.51		0.08		1.54			1.62			(0.07	)		-			(0.07	)		10.06		19.06%			168,248		0.81%			0.82%
Service Class
6/30/17r	$	13.12	$	0.02	$	0.16		$	0.18		$	-		$	-		$	-		$	13.30		1.37%	b	$	20,007		1.04%	a		0.24%	a
12/31/16		11.25		0.03		2.68			2.71			(0.04	)		(0.80	)		(0.84	)		13.12		24.83%			19,563		1.04%			0.26%
12/31/15		14.59		0.04		(0.89	)		(0.85	)		(0.07	)		(2.42	)		(2.49	)		11.25		(5.74%	)		15,919		1.04%			0.27%
12/31/14		13.72		0.08		1.18			1.26			(0.07	)		(0.32	)		(0.39	)		14.59		9.16%			15,484		1.04%			0.56%
12/31/13		10.01		0.06		3.72			3.78			(0.07	)		-			(0.07	)		13.72		37.82%			12,729		1.05%			0.47%
12/31/12		8.47		0.06		1.53			1.59			(0.05	)		-			(0.05	)		10.01		18.78%			8,717		1.06%			0.60%

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		15	%		58	%		42	%		46	%		67	%		49	%

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

r Unaudited.

The accompanying notes are an integral part of the financial statements.

140

MML Series Investment Fund – Financial Statements (Continued)

Financial Highlights (For a share outstanding throughout each period)

MML Total Return Bond Fund

				Income (loss) from investment operations								Less distributions to shareholders														Ratios / Supplemental Data
	Net asset value, beginning of the period		Net investment income (loss)c,j		Net realized and unrealized gain (loss) on investments			Total income (loss) from investment operations			From net investment income			From net realized gains			Total distributions			Net asset value, end of the period		Total returnm			Net assets, end of the period (000’s)		Ratio of expenses to average daily net assets before expense waiversn			Ratio of expenses to average daily net assets after expense waiversj,n			Interest expense to average daily net assetsp			Net investment income (loss) to average daily net assetsn
Class II
6/30/17r	$	10.27	$	0.10	$	0.10		$	0.20		$	-		$	-		$	-		$	10.47		1.95%	b	$	403,995		0.61%	a		0.60%	a		N/A			1.85%	a
12/31/16		10.19		0.17		0.09			0.26			(0.18	)		-			(0.18	)		10.27		2.52%			393,276		0.62%			0.60%			N/A			1.67%
12/31/15		10.64		0.14		(0.11	)		0.03			(0.36	)		(0.12	)		(0.48	)		10.19		0.24%			328,928		0.66%			0.60%			N/A			1.32%
12/31/14		10.34		0.13		0.36			0.49			(0.19	)		-			(0.19	)		10.64		4.75%			403,732		0.70%			0.65%			0.00	%e		1.27%
12/31/13		10.82		0.13		(0.31	)		(0.18	)		(0.21	)		(0.09	)		(0.30	)		10.34		(1.63%	)		401,127		0.69%			0.65%			0.00	%e		1.23%
12/31/12		10.13		0.20		0.70			0.90			(0.21	)		-			(0.21	)		10.82		8.93%			306,746		0.72%			0.65%			0.00	%e		1.84%
Service Class I
6/30/17r	$	10.18	$	0.08	$	0.11		$	0.19		$	-		$	-		$	-		$	10.37		1.87%	b	$	19,826		0.86%	a		0.85%	a		N/A			1.60%	a
12/31/16		10.11		0.15		0.09			0.24			(0.17	)		-			(0.17	)		10.18		2.30%			19,079		0.87%			0.85%			N/A			1.43%
12/31/15		10.57		0.11		(0.11	)		(0.00	)d		(0.34	)		(0.12	)		(0.46	)		10.11		(0.05%	)		17,161		0.90%			0.85%			N/A			1.09%
12/31/14		10.29		0.10		0.35			0.45			(0.17	)		-			(0.17	)		10.57		4.43%			14,435		0.95%			0.90%			0.00	%e		1.00%
12/31/13		10.79		0.10		(0.30	)		(0.20	)		(0.21	)		(0.09	)		(0.30	)		10.29		(1.85%	)		11,404		0.94%			0.90%			0.00	%e		1.00%
12/31/12h		10.49		0.10		0.41			0.51			(0.21	)		-			(0.21	)		10.79		4.94%	b		5,730		0.97%	a		0.90%	a		0.00	%a,e		1.45%	a

	Six months ended June 30,  2017b,r			Year ended December 31
				2016			2015			2014			2013			2012
Portfolio turnover rate		164	%		278	%		322	%		447	%u		550	%u		583	%u

a Annualized.

b Percentage represents the results for the period and is not annualized.

c Per share amount calculated on the average shares method.

d Amount is less than $0.005 per share.

e Amount is less than 0.005%.

h For the period May 1, 2012 (commencement of operations) through December 31, 2012.

j Computed after giving effect to an agreement by MML Advisers and/or MassMutual to waive certain fees and expenses of the Fund.

m Total return does not reflect expenses that apply at the separate account level or to related insurance products. Inclusion of these charges would reduce the total return figures for all periods shown.

n Includes interest expense.

p Interest expense incurred as a result of entering into reverse repurchase agreements is included in the Fund’s net expenses in the Statements of Operations. Income earned on investing proceeds from reverse repurchase agreements is included in interest income in the Statements of Operations.

r Unaudited.

u Excludes Treasury roll transactions. Including these transactions, the portfolio turnover would have been 479%, 574% and 618%, respectively, for the years ended December 31, 2014, December 31, 2013 and December 31, 2012.

The accompanying notes are an integral part of the financial statements.

141

Notes to Financial Statements (Unaudited)

1. The Funds

MML Series Investment Fund (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a no-load, open-end, management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated December 19, 1984, as restated May 14, 1993, and further amended and restated as of December 15, 2011, as it may be further amended from time to time. The following are 19 series of the Trust (each individually referred to as a “Fund” or collectively as the “Funds”):

MML Blue Chip Growth Fund (“Blue Chip Growth Fund”)

MML Equity Income Fund (“Equity Income Fund”)

MML Equity Index Fund (“Equity Index Fund”)

MML Focused Equity Fund (“Focused Equity Fund”)

MML Foreign Fund (“Foreign Fund”)

MML Fundamental Growth Fund (“Fundamental Growth Fund”)

MML Fundamental Value Fund (“Fundamental Value Fund”)

MML Global Fund (“Global Fund”)

MML Growth & Income Fund (“Growth & Income Fund”)

MML Income & Growth Fund (“Income & Growth Fund”)

MML International Equity Fund (“International Equity Fund”)

MML Large Cap Growth Fund (“Large Cap Growth Fund”)

MML Managed Volatility Fund (“Managed Volatility Fund”)

MML Mid Cap Growth Fund (“Mid Cap Growth Fund”)

MML Mid Cap Value Fund (“Mid Cap Value Fund”)

MML Small Cap Growth Equity Fund (“Small Cap Growth Equity Fund”)

MML Small Company Value Fund (“Small Company Value Fund”)

MML Small/Mid Cap Value Fund (“Small/Mid Cap Value Fund”)

MML Total Return Bond Fund (“Total Return Bond Fund”)

The Trust makes shares of the Funds available for the investment of assets of various separate investment accounts established by Massachusetts Mutual Life Insurance Company (“MassMutual”) and by life insurance companies which are subsidiaries of MassMutual. Shares of the Trust are not offered to the general public. MassMutual, MML Bay State Life Insurance Company, C.M. Life Insurance Company, and the MML Allocation Funds, which are “funds of funds” series of the Trust, are the record owners of all of the outstanding shares of the Funds.

Each share class of a Fund represents an interest in the same portfolio of assets. The principal difference among the classes is the level of service and administration fees, and shareholder and distribution service expenses borne by the classes. Because each class will have different fees and expenses, performance and share prices will vary between the classes. The classes of shares are offered to different types of investors, as outlined in the Funds’ Prospectus.

2. Significant Accounting Policies

The following is a summary of significant accounting policies followed consistently by each Fund in the preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”). The preparation of the financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

Investment Valuation

The net asset value of each Fund’s shares is determined once daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), on each day the NYSE is open for trading (a “business day”). The NYSE normally closes at 4:00 p.m. Eastern Time, but may close earlier on some days. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. A Fund will not treat an intraday disruption in NYSE trading or other event that

142

Notes to Financial Statements (Unaudited) (Continued)

causes an unscheduled closing of the NYSE as a close of business of the NYSE for these purposes and will instead fair value securities in accordance with procedures approved annually by the Trustees, and under the general oversight of the Trustees. On holidays and other days when the NYSE is closed, each Fund’s net asset value generally is not calculated and the Funds do not anticipate accepting buy or sell orders. However, the value of each Fund’s assets may still be affected on such days to the extent that a Fund holds foreign securities that trade on days that foreign securities markets are open.

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

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

Investments for which market quotations are not available or for which a pricing service or vendor does not provide a value, or for which such market quotations or values are considered by the investment adviser or subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event) are stated at fair valuations determined in good faith by the Funds’ Valuation Committee¹ in accordance with procedures approved annually by the Board of Trustees (“Trustees”), and under the general oversight of the Trustees. The Funds’ Valuation Committee employs various methods to determine fair valuations including a regular review of significant inputs and assumptions and review of any related market activity. The Funds’ Valuation Committee reports to the Trustees at its regularly scheduled meetings. It is possible that fair value prices will be used by the Funds to a significant extent. The value determined for an investment using the Funds’ fair value procedures may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.

The Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds’ portfolio securities may change on days when the prices of the Funds’ shares are not calculated. The prices of the Funds’ shares will reflect any such changes when the prices of the Funds’ shares are next calculated, which is the next business day. The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market

¹  The Valuation Committee consists of the President, Treasurer, Assistant Treasurers, Vice Presidents (except for the CCO), Assistant Vice Presidents, Secretary, and Assistant Secretaries of the Trust, as well as such alternate members as the Trustees may from time to time designate. The Valuation Committee reviews and determines the fair valuation of portfolio securities and the Funds’ pricing procedures in general.

143

Notes to Financial Statements (Unaudited) (Continued)

moves, may have occurred in the interim. The Funds’ investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.

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

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

The types of assets and liabilities categorized in Level 1 generally include actively traded domestic and certain foreign equity securities, derivatives actively traded on a national securities exchange (such as some warrants, rights, futures, and options), and shares of open-end mutual funds.

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

The types of assets and liabilities categorized in Level 2 generally include debt securities such as U.S. Government and agency securities, mortgage-backed securities, asset-backed securities, municipal obligations, sovereign debt obligations, bank loans, corporate bonds, and those securities valued at amortized cost; OTC derivatives such as swaps, options, swaptions, and forward foreign currency exchange contracts; certain restricted securities; and non-exchange traded equity securities and certain foreign equity securities traded on particular foreign exchanges that close before the Funds determine their net asset values.

Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

The types of assets and liabilities categorized in Level 3 generally include securities for which prices, spreads, or any of the other aforementioned significant inputs are unobservable. Generally, securities whose trading has been suspended or that have been de-listed from their current primary trading exchange; securities in default or bankruptcy proceedings for which there is no current market quotation; securities and certain derivatives valued by broker quotes which may include brokers’ assumptions; and any illiquid Rule 144A securities or restricted securities issued by non-public entities are categorized in Level 3.

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

Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Level 1, Level 2, or Level 3.

144

Notes to Financial Statements (Unaudited) (Continued)

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

The Focused Equity Fund, Small Company Value Fund, and Small/Mid Cap Value Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of June 30, 2017. For each Fund noted in the preceding sentence, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

The following is the aggregate value by input level, as of June 30, 2017, for the remaining Funds’ investments:

	Level 1			Level 2			Level 3		Total
Blue Chip Growth Fund
Asset Investments
Common Stock	$	343,782,855		$	6,537,527	*	$	-	$	350,320,382
Mutual Funds		1,022			-			-		1,022
Short-Term Investments		-			2,413,487			-		2,413,487
Total Investments	$	343,783,877		$	8,951,014		$	-	$	352,734,891
Equity Income Fund
Asset Investments
Common Stock	$	466,928,498		$	19,645,476	*	$	-	$	486,573,974
Preferred Stock		7,828,973			1,433,830			-		9,262,803
Corporate Debt		-			819,878			-		819,878
Mutual Funds		1,022			-			-		1,022
Short-Term Investments		-			9,347,713			-		9,347,713
Total Investments	$	474,758,493		$	31,246,897		$	-	$	506,005,390
Equity Index Fund
Asset Investments
Common Stock	$	690,404,828		$	-		$	-	$	690,404,828
Short-Term Investments		-			5,663,902			-		5,663,902
Total Investments	$	690,404,828		$	5,663,902		$	-	$	696,068,730
Liability Derivatives
Futures Contracts	$	(22,515	)	$	-		$	-	$	(22,515	)
Foreign Fund
Asset Investments
Common Stock*
Bermuda	$	-		$	1,443,411		$	-	$	1,443,411
Brazil		1,542,969			-			-		1,542,969
Canada		8,704,047			-			-		8,704,047
Cayman Islands		3,589,720			7,845,561			-		11,435,281
China		-			11,650,611			-		11,650,611
France		-			41,331,634			-		41,331,634
Germany		3,084,416			44,713,571			-		47,797,987
Hong Kong		-			7,597,687			-		7,597,687
Ireland		-			4,660,837			-		4,660,837
Israel		5,707,163			-			-		5,707,163
Italy		-			5,603,169			-		5,603,169
Japan		-			41,970,297			-		41,970,297

145

Notes to Financial Statements (Unaudited) (Continued)

	Level 1		Level 2			Level 3		Total
Foreign Fund (Continued)
Asset Investments (Continued)
Common Stock* (Continued)
Luxembourg	$	-	$	1,959,461		$	-	$	1,959,461
Netherlands		-		19,464,251			-		19,464,251
Norway		-		7,026,826			-		7,026,826
Portugal		-		3,680,643			-		3,680,643
Republic of Korea		4,085,449		19,609,636			-		23,695,085
Singapore		-		14,302,135			-		14,302,135
Spain		4,489,924		-			-		4,489,924
Sweden		-		2,514,262			-		2,514,262
Switzerland		-		23,302,821			-		23,302,821
Taiwan		-		4,376,022			-		4,376,022
Thailand		-		4,595,747			-		4,595,747
United Kingdom		10,130,043		69,290,853			-		79,420,896
Mutual Funds		3,983,411		-			-		3,983,411
Short-Term Investments		-		11,204,726			-		11,204,726
Total Investments	$	45,317,142	$	348,144,161		$	-	$	393,461,303
Fundamental Growth Fund
Asset Investments
Common Stock	$	141,970,896	$	716,576	*	$	-	$	142,687,472
Fundamental Value Fund
Asset Investments
Common Stock	$	218,364,094	$	6,088,917	*	$	-	$	224,453,011
Short-Term Investments		-		4,148,683			-		4,148,683
Total Investments	$	218,364,094	$	10,237,600		$	-	$	228,601,694
Global Fund
Asset Investments
Common Stock*
Austria	$	-	$	998,501		$	-	$	998,501
Brazil		-		1,220,506			-		1,220,506
Canada		4,350,926		-			-		4,350,926
Cayman Islands		-		472,578			-		472,578
Czech Republic		-		246,033			-		246,033
Denmark		-		1,959,448			-		1,959,448
France		-		20,192,903			-		20,192,903
Germany		-		16,347,450			-		16,347,450
Ireland		11,589,785		-			-		11,589,785
Israel		2,292,643		-			-		2,292,643
Japan		-		3,291,124			-		3,291,124
Mexico		851,388		-			-		851,388
Netherlands		1,869,593		5,700,111			-		7,569,704
Republic of Korea		-		2,259,438			-		2,259,438
Spain		-		1,869,532			-		1,869,532
Sweden		-		4,568,740			-		4,568,740
Switzerland		-		21,325,240			-		21,325,240
Thailand		-		538,488			-		538,488
United Kingdom		1,525,198		21,425,042			-		22,950,240
United States		116,639,395		-			-		116,639,395

146

Notes to Financial Statements (Unaudited) (Continued)

	Level 1		Level 2			Level 3		Total
Global Fund (Continued)
Asset Investments (Continued)
Mutual Funds	$	1,772,097	$	-		$	-	$	1,772,097
Short-Term Investments		-		1,269,216			-		1,269,216
Total Investments	$	140,891,025	$	103,684,350		$	-	$	244,575,375
Growth & Income Fund
Asset Investments
Common Stock	$	126,166,053	$	6,753,827	*	$	-	$	132,919,880
Short-Term Investments		-		1,853,031			-		1,853,031
Total Investments	$	126,166,053	$	8,606,858		$	-	$	134,772,911
Income & Growth Fund
Asset Investments
Common Stock	$	263,659,855	$	25,137,039	*	$	-	$	288,796,894
Short-Term Investments		-		14,016,957			-		14,016,957
Total Investments	$	263,659,855	$	39,153,996		$	-	$	302,813,851
International Equity Fund
Asset Investments
Common Stock*
Australia	$	-	$	6,141,050		$	-	$	6,141,050
Cayman Islands		4,566,906		-			-		4,566,906
France		-		26,699,711			-		26,699,711
Germany		-		23,270,531			-		23,270,531
India		1,760,344		-			-		1,760,344
Indonesia		-		3,800,694			-		3,800,694
Ireland		3,608,717		-			-		3,608,717
Italy		-		6,130,409			-		6,130,409
Japan		-		10,737,129			-		10,737,129
Mexico		3,316,757		-			-		3,316,757
Netherlands		-		14,529,576			-		14,529,576
Republic of Korea		-		1,161,878			-		1,161,878
Sweden		-		10,110,554			-		10,110,554
Switzerland		-		20,472,435			-		20,472,435
Taiwan		-		498,148			-		498,148
United Kingdom		-		36,389,460			-		36,389,460
Short-Term Investments		-		6,354,403			-		6,354,403
Total Investments	$	13,252,724	$	166,295,978		$	-	$	179,548,702
Liability Derivatives
Forward Contracts	$	-	$	(84,873	)	$	-	$	(84,873	)
Large Cap Growth Fund
Asset Investments
Common Stock	$	106,440,157	$	3,665,736		$	-	$	110,105,893
Short-Term Investments		-		1,256,052			-		1,256,052
Total Investments	$	106,440,157	$	4,921,788		$	-	$	111,361,945

147

Notes to Financial Statements (Unaudited) (Continued)

	Level 1			Level 2			Level 3			Total
Managed Volatility Fund
Asset Investments
Common Stock	$	183,301,697		$	-		$	-		$	183,301,697
Corporate Debt		-			-			-	+,**		-
Purchased Options		579,198			-			-			579,198
Short-Term Investments		-			2,830,880			-			2,830,880
Total Investments	$	183,880,895		$	2,830,880		$	-		$	186,711,775
Liability Derivatives
Written Options	$	(2,268,301	)	$	-		$	-		$	(2,268,301	)
Mid Cap Growth Fund
Asset Investments
Common Stock	$	425,755,767		$	303,807		$	983,986	**	$	427,043,560
Preferred Stock		-			-			2,799,821	**		2,799,821
Mutual Funds		28,139,207			-			-			28,139,207
Short-Term Investments		-			20,599,977			-			20,599,977
Total Investments	$	453,894,974		$	20,903,784		$	3,783,807		$	478,582,565
Mid Cap Value Fund
Asset Investments
Common Stock	$	445,985,733		$	4,579,201	*	$	-		$	450,564,934
Mutual Funds		12,032,354			-			-			12,032,354
Short-Term Investments		-			13,551,441			-			13,551,441
Total Investments	$	458,018,087		$	18,130,642		$	-		$	476,148,729
Asset Derivatives
Forward Contracts	$	-		$	22,737		$	-		$	22,737
Liability Derivatives
Forward Contracts	$	-		$	(226,141	)	$	-		$	(226,141	)
Small Cap Growth Equity Fund
Asset Investments
Common Stock	$	202,335,448		$	-		$	603,964		$	202,939,412
Preferred Stock		-			-			1,293,711			1,293,711
Mutual Funds		46,744,344			-			-			46,744,344
Short-Term Investments		-			2,697,827			-			2,697,827
Total Investments	$	249,079,792		$	2,697,827		$	1,897,675		$	253,675,294
Total Return Bond Fund
Asset Investments
Bank Loans	$	-		$	592,573		$	-		$	592,573
Corporate Debt		-			110,493,887			-			110,493,887
Municipal Obligations		-			6,184,739			-			6,184,739
Non-U.S. Government Agency Obligations		-			59,658,609			-			59,658,609
U.S. Government Agency Obligations and Instrumentalities		-			135,825,686			-			135,825,686
U.S. Treasury Obligations		-			113,043,788			-			113,043,788
Short-Term Investments		-			51,572,745			-			51,572,745
Total Investments	$	-		$	477,372,027		$	-		$	477,372,027

148

Notes to Financial Statements (Unaudited) (Continued)

	Level 1			Level 2		Level 3		Total
Total Return Bond Fund (Continued)
Asset Derivatives
Forward Contracts	$	-		$	204,626	$	-	$	204,626
Futures Contracts		27,480			-		-		27,480
Swap Agreements		-			1,646		-		1,646
Total	$	27,480		$	206,272	$	-	$	233,752
Liability Derivatives
Futures Contracts	$	(104,432	)	$	-	$	-	$	(104,432	)

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments after the close of trading in their applicable foreign markets, as applicable.

** None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund(s). 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 June 30, 2017 is not presented.

+ Represents a security at $0 value as of June 30, 2017.

The following tables show Fund(s) with certain assets and liabilities, which approximate fair value and would be categorized at Level 2 as of June 30, 2017.

Statements of Assets and Liabilities location:	Total Return Bond Fund
Receivables from:
Investments sold on a when-issued basis	X
Collateral pledged for open derivative instruments	X
Payables for:
Investments purchased on a when-issued basis	X

Statements of Assets and Liabilities location:	Foreign Fund	Fundamental Growth Fund	Global Fund	Mid Cap Growth Fund	Small Cap Growth Equity Fund	Small Company Value Fund
Due to custodian		X
Securities on loan	X		X	X	X	X

The Funds, with the exception of the Mid Cap Growth Fund, had no transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy during the period ended June 30, 2017. The Mid Cap Growth Fund had transfers between levels of the fair value hierarchy during the period ended June 30, 2017; however, none of the transfers individually or collectively had a material impact on the Fund. The Funds recognize transfers between the Levels as of the beginning of the year.

149

Notes to Financial Statements (Unaudited) (Continued)

Following is a reconciliation of investments for which significant unobservable inputs (Level 3) were used in determining value:

Asset Valuation Inputs

	Investments in Securities
	Balance as of 12/31/16		Accrued Discounts (Premiums)		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Purchases		(Sales)			Balance as of 6/30/17		Net Change in Unrealized Appreciation (Depreciation) from Investments Still Held as of 6/30/17
Small Cap Growth Equity Fund
Common Stock	$	431,128	$	-	$	8,474	$	40,860		$	195,841	$	(72,339	)	$	603,964	$	55,825
Preferred Stock		1,879,253		-		234,184		(107,385	)		-		(712,341	)		1,293,711		(29,169	)
	$	2,310,381	$	-	$	242,658	$	(66,525	)	$	195,841	$	(784,680	)	$	1,897,675	$	26,656

The Small Cap Growth Equity Fund fair values certain of its Level 3 investments using acquisition cost, although the transaction may not have occurred during the current reporting period. These investments are generally privately held investments, but may include defaulted securities and new debt issuances. There may not be a secondary market, and/or there are a limited number of investors. The determination to fair value such investments at cost is based upon factors consistent with the principles of fair value measurement that are reasonably available to the Valuation Committee. Valuations are reviewed utilizing available market information to determine if the carrying value should be adjusted. Such market data may include, but is not limited to, observations of the trading multiples of public companies considered comparable to the private companies being valued, financial or operational information released by the company, and/or news or corporate events that affect the investment, also referred to as enterprise value (EV) to earnings before interest, taxes, depreciation and amortization (EBITDA) ratios. Valuations may be adjusted to account for company-specific issues, the lack of liquidity inherent in a nonpublic investment and the fact that comparable public companies are not identical to the investments being fair valued by the Small Cap Growth Equity Fund. All market variables are assessed on a regular frequency and calibrated as necessary.

Small Cap Growth Equity Fund	Fair Value Amount		Valuation Technique	Unobservable Input Description	Value/ Weighted Average Range
Common stock — $603,964
Cloudera, Inc.	$	191,899	Market Approach	Parity to Underlying Security	$	15.90
				Discount for Lack of Marketability		10%
Docusign, Inc. (Escrow Shares)		-	Worthless	Worthless		-
Dropbox, Inc. Class B		112,992	Market Approach	EV/Multiple		7.10x
				Discount for Lack of Marketability		10%
Telogis, Inc.		255,573	Asset Valuation	Future Cash Distribution	$	3.18
Veracode, Inc. (Escrow Shares)		43,500	Asset Valuation	Future Cash Distribution	$	4.07
				Discount for Lack of Certainty		20%

150

Notes to Financial Statements (Unaudited) (Continued)

Small Cap Growth Equity Fund (continued)	Fair Value Amount		Valuation Technique	Unobservable Input Description	Value/ Weighted Average Range
Preferred stock — $1,293,711
Draftkings, Inc. Series D	$	34,048	Market Approach	Probability Expected Weighted Return Model
Draftkings, Inc. Series D1		88,532		Merger Probability		0%
				No Merger Probability		100%
MarkLogic Corp. Series F		245,736	Market Approach	EV/Multiple		2.40x
				Discount for Lack of Marketability		10%
Telogis, Inc. Series A		481,843	Asset Valuation	Future Cash Distribution	$	4.40
The Honest Company, Inc. Series D		143,522	Market Approach	Probability Expected Weighted Return Model
				IPO Probability		50%
				No IPO Probability		50%
Zuora, Inc., Series F		300,030	Market Approach	EV/Multiple		6.40x
				Discount for Lack of Marketability		10%
Total	$	1,897,675

Derivative Instruments

Derivatives are financial instruments whose values are based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. Gains or losses from derivatives can be substantially greater than their original cost and can sometimes be unlimited. A Fund may not be able to close out a derivative transaction at a favorable time or price. For those Funds that held derivatives during the period ended June 30, 2017, the following table shows how the Fund used these types of derivatives during the period (marked with an “A”), as well as additional uses, if any, it may have for them in the future (marked with an “M”).

Type of Derivative and Objective for Use	Equity Index Fund	International Equity Fund	Managed Volatility Fund	Mid Cap Value Fund	Total Return Bond Fund
Foreign Currency Exchange Transactions*
Hedging/Risk Management		A		A	A
Directional Exposures to Currencies					M
Futures Contracts**
Hedging/Risk Management					A
Duration/Credit Quality Management					A
Substitution for Direct Investment	A				M
Interest Rate Swaps***
Hedging/Risk Management					A
Duration Management					A
Options (Purchased)
Hedging/Risk Management			A
Options (Written)
Hedging/Risk Management			A
Income			A

* Includes any options purchased or written, futures contracts, forward contracts, and swap agreements, if applicable.

** Includes any options purchased or written on futures contracts, if applicable.

*** Includes any caps, floors, and collars, and related purchased or written options, if applicable.

151

Notes to Financial Statements (Unaudited) (Continued)

At June 30, 2017, and during the period then ended, the Fund(s) had the following derivatives and transactions in derivatives, grouped into the indicated risk categories:

	Equity Risk			Foreign Exchange Risk			Interest Rate Risk		Total
Equity Index Fund
Liability Derivatives
Futures Contracts^^	$	(22,515	)	$	-		$	-	$	(22,515	)
Realized Gain (Loss)#
Futures Contracts	$	1,149,314		$	-		$	-	$	1,149,314
Change in Appreciation (Depreciation)##
Futures Contracts	$	101,603		$	-		$	-	$	101,603
International Equity Fund
Liability Derivatives
Forward Contracts^	$	-		$	(84,873	)	$	-	$	(84,873	)
Realized Gain (Loss)#
Forward Contracts	$	-		$	251,349		$	-	$	251,349
Change in Appreciation (Depreciation)##
Forward Contracts	$	-		$	(378,897	)	$	-	$	(378,897	)
Managed Volatility Fund
Asset Derivatives
Purchased Options*	$	579,198		$	-		$	-	$	579,198
Liability Derivatives
Written Options^	$	(2,268,301	)	$	-		$	-	$	(2,268,301	)
Realized Gain (Loss)#
Purchased Options	$	(2,918,022	)	$	-		$	-	$	(2,918,022	)
Written Options		(5,503,331	)		-			-		(5,503,331	)
Total Realized Gain (Loss)	$	(8,421,353	)	$	-		$	-	$	(8,421,353	)
Change in Appreciation (Depreciation)##
Purchased Options	$	(143,165	)	$	-		$	-	$	(143,165	)
Written Options		597,638			-			-		597,638
Total Change in Appreciation (Depreciation)	$	454,473		$	-		$	-	$	454,473
Mid Cap Value Fund
Asset Derivatives
Forward Contracts*	$	-		$	22,737		$	-	$	22,737
Liability Derivatives
Forward Contracts^	$	-		$	(226,141	)	$	-	$	(226,141	)
Realized Gain (Loss)#
Forward Contracts	$	-		$	(498,994	)	$	-	$	(498,994	)
Change in Appreciation (Depreciation)##
Forward Contracts	$	-		$	(129,090	)	$	-	$	(129,090	)

152

Notes to Financial Statements (Unaudited) (Continued)

	Equity Risk		Foreign Exchange Risk			Interest Rate Risk			Total
Total Return Bond Fund
Asset Derivatives
Forward Contracts*	$	-	$	204,626		$	-		$	204,626
Futures Contracts^^		-		-			27,480			27,480
Swap Agreements^^,^^^		-		-			1,646			1,646
Total Value	$	-	$	204,626		$	29,126		$	233,752
Liability Derivatives
Futures Contracts^^	$	-	$	-		$	(104,432	)	$	(104,432	)
Realized Gain (Loss)#
Forward Contracts	$	-	$	(504,189	)	$	-		$	(504,189	)
Futures Contracts		-		-			235,447			235,447
Total Realized Gain (Loss)	$	-	$	(504,189	)	$	235,447		$	(268,742	)
Change in Appreciation (Depreciation)##
Forward Contracts	$	-	$	(160,057	)	$	-		$	(160,057	)
Futures Contracts		-		-			(15,885	)		(15,885	)
Swap Agreements		-		-			1,646			1,646
Total Change in Appreciation (Depreciation)	$	-	$	(160,057	)	$	(14,239	)	$	(174,296	)

* Statements of Assets and Liabilities location: Investments, at value, Receivables from: open forward foreign currency contracts, as applicable.

^ Statements of Assets and Liabilities location: Payables for: open forward foreign currency contracts, or written options outstanding, at value, as applicable.

^^ Cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps is reported in “Futures Contracts” and “Swap Agreements” below. Only current day’s variation margin, if any, is reported within the Statements of Assets and Liabilities.

^^^ Represents centrally cleared swaps which are not subject to a master netting agreement.

# Statements of Operations location: Amounts are included in net realized gain (loss) on: investment transactions, futures contracts, written options, or foreign currency transactions, as applicable.

## Statements of Operations location: Amounts are included in net change in unrealized appreciation (depreciation) on: investment transactions, futures contracts, swap agreements, written options, or translation of assets and liabilities in foreign currencies, as applicable.

For the period ended June 30, 2017, the number of contracts, notional amounts, or shares/units for each derivative type was as follows:

	Number of Contracts, Notional Amounts, or Shares/Units†
	Futures Contracts		Forward Contracts		Swap Agreements		Purchased Options		Written Options
Equity Index Fund		91	$	-	$	-		-		-
International Equity Fund		-		3,907,974		-		-		-
Managed Volatility Fund		-		-		-		771		771
Mid Cap Value Fund		-		15,451,268		-		-		-
Total Return Bond Fund		335		14,843,095		2,130,000		-		-

† Amount(s) disclosed represent average number of contracts for futures contracts, notional amounts for forward contracts and swap agreements, and shares/units outstanding for purchased options and written options, which is indicative of volume of this derivative type, for the months that the Fund held such derivatives during the period ended June 30, 2017.

153

Notes to Financial Statements (Unaudited) (Continued)

The following table presents derivative assets by counterparty net of amounts available for offset under a master netting agreement (“MNA”), or similar agreement, and net of the related collateral received by the Fund(s) as of June 30, 2017.

Counterparty	Derivative Assets Subject to an MNA by Counterparty†		Financial Instruments Available for  Offset		Collateral Received***		Net Amount*
Total Retun Bond Fund
Goldman Sachs International	$	204,626	$	-	$	-	$	204,626

The following table presents derivative liabilities by counterparty net of amounts available for offset under an MNA, or similar agreement, and net of the related collateral pledged by the Fund(s) as of June 30, 2017.

Counterparty	Derivative Liabilities Subject to an MNA by Counterparty†			Financial Instruments Available for  Offset		Collateral Pledged***		Net Amount**
International Equity Fund
State Street Bank and Trust	$	(84,873	)	$	-	$	-	$	(84,873	)

* Represents the net amount receivable from the counterparty in the event of default.

** Represents the net amount payable to the counterparty in the event of default.

*** The amount presented here may be less than the total amount of collateral received/pledged as the net amount of derivative assets and liabilities for a counterparty cannot be less than $0.

† The amount presented here may be less than the total amount shown in the Statements of Assets and Liabilities as some derivatives held by the counterparty are not covered within the master netting agreements.

Such agreements typically permit a single net payment in the event of default, including the bankruptcy or insolvency of the counterparty. Typically, the Fund(s) and counterparties are not permitted to sell, re-pledge, or use the collateral they receive.

Further details regarding the derivatives and other investments held by the Fund(s) during the period ended June 30, 2017, are discussed below.

Foreign Currency Exchange Transactions

A Fund may engage in foreign currency exchange transactions for hedging purposes in order to protect against uncertainty in the level of future foreign currency exchange rates, or for other, non-hedging purposes.

A Fund may enter into foreign currency exchange transactions, including foreign currency forward contracts. These contracts call for the Fund to deliver in the future an amount of one currency in return for an amount of another currency, at an exchange rate determined at the time the contract is entered into. Forward contracts are private contractual arrangements and a Fund is subject to the risk that its counterparty will not, or will not be able to, perform its obligations. This type of arrangement may require the Fund to post margin. A Fund may enter into foreign currency exchange transactions in order to hedge against changes in the values of the assets or liabilities denominated in one or more foreign currencies, or otherwise to increase or reduce a Fund’s exposure to various foreign currencies. The use of foreign currency exchange transactions may create investment leverage.

Whenever a Fund enters into a foreign currency exchange transaction, it is subject to the risk that the value of the transaction will move in a direction unfavorable to it. When the Fund uses the transactions for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part. If a Fund enters into foreign currency exchange transactions other than for hedging purposes (for example, seeking to profit from an anticipated change in the values of currencies by creating directional exposures in the portfolio with respect to one or more currencies), it will generally be subject to

154

Notes to Financial Statements (Unaudited) (Continued)

the same risks, but is less likely to have assets or liabilities that will offset any losses on the transactions. There can be no assurance that a Fund will be able to terminate any foreign currency exchange transaction prior to its maturity in order to limit its loss on the transaction.

Forward foreign currency contracts are marked to market daily and the change in their value is recorded by the Funds as an unrealized gain or loss. Forward foreign currency contracts are valued at the settlement price established through dealers or other market sources on the day which they are traded. When a forward foreign currency contract is extinguished, through delivery or offset by entering into another forward foreign currency contract, the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was extinguished or offset. The notional or contractual amounts of these instruments do not necessarily represent the amounts potentially subject to risk. The measurement of the risk associated with these instruments is meaningful only when all related and offsetting transactions and counterparty risks are considered.

The Fund(s) listed in the following table had open forward foreign currency contracts at June 30, 2017. A Fund’s current exposure to a counterparty is the unrealized appreciation on the contract.

		Counterparty	Settlement Date		In Exchange for		Unrealized Appreciation/ (Depreciation)
International Equity Fund
Contract to Deliver
CHF	1,819,000	State Street Bank and Trust*		09/20/17	$	1,821,386	$	(84,873	)
Mid Cap Value Fund
Contracts to Buy
CAD	216,256	Morgan Stanley & Co.		09/29/17	$	166,705	$	281
EUR	177,140	UBS AG		09/29/17		203,352		(115	)
					$	370,057	$	166
Contracts to Deliver
JPY	316,736,172	Credit Suisse International		09/29/17	$	2,849,128	$	22,456
CAD	9,011,423	Morgan Stanley & Co.		09/29/17		6,818,405		(139,911	)
EUR	3,590,366	UBS AG		09/29/17		4,033,202		(86,115	)
					$	13,700,735	$	(203,570	)
Total Return Bond Fund
Contracts to Deliver
JPY	70,000,000	Goldman Sachs International*		07/18/17	$	643,880	$	21,176
JPY	720,000,000	Goldman Sachs International*		08/07/17		6,481,815		71,567
JPY	1,020,000,000	Goldman Sachs International*		09/25/17		9,212,969		111,883
					$	16,338,664	$	204,626

CAD Canadian Dollar

CHF Swiss Franc

EUR Euro

JPY Japanese Yen

* Contracts are subject to an MNA.

155

Notes to Financial Statements (Unaudited) (Continued)

Futures Contracts

A Fund may seek to manage a variety of different risks, such as interest rate risk, equity price risk, and currency risk, through the use of futures contracts. A Fund may use interest rate futures contracts to adjust the interest rate sensitivity (duration) of its portfolio or the credit exposure of the portfolio. Interest rate futures contracts obligate the long or short holder to take or make delivery of a specified quantity of a financial instrument, such as a specific fixed-income security, during a specified future period at a specified price. A Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure when it holds uninvested cash or as an inexpensive substitute for cash investments directly in securities or other assets. Securities index futures contracts are contracts to buy or sell units of a securities index at a specified future date at a price agreed upon when the contract is made and are settled in cash. Positions in futures may be closed out only on an exchange or board of trade which provides a secondary market for such futures. Because futures contracts are exchange-traded, they typically have minimal exposure to counterparty risk.

Parties to a futures contract are not required to post the entire notional amount of the contract, but rather a small percentage of that amount (by way of margin), both at the time they enter into futures transactions, and then on a daily basis if their positions decline in value; as a result, futures contracts are highly leveraged. Such payments are known as variation margin and are recorded by the Funds as unrealized gains or losses. Because futures markets are highly leveraged, they can be extremely volatile, and there can be no assurance that the pricing of a futures contract will correlate precisely with the pricing of the asset or index underlying it or the asset or liability of the Fund that is the subject of the hedge. It may not always be possible for a Fund to enter into a closing transaction with respect to a futures contract it has entered into, at a favorable time or price. When a Fund enters into a futures transaction, it is subject to the risk that the value of the futures contract will move in a direction unfavorable to it. When a Fund uses futures contracts for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part.

When a futures contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded.

The Fund(s) listed in the following table had open futures contracts at June 30, 2017:

	Expiration Date		Number of Contracts		Notional Amount			Net Unrealized Appreciation/ (Depreciation)
Equity Index Fund
Futures Contracts — Long
S&P 500 E Mini Index		09/15/17		50	$	6,052,250		$	(22,515	)
Total Return Bond Fund
Futures Contracts — Long
U.S. Treasury Note 2 Year		09/29/17		202	$	43,654,094		$	(61,241	)
U.S. Treasury Note 5 Year		09/29/17		70		8,248,516			(19,529	)
90 Day Eurodollar		12/18/17		110		27,094,375			(23,662	)
								$	(104,432	)
Futures Contracts — Short
90 Day Eurodollar		12/17/18		110	$	(27,005,000	)	$	27,480

Swap Agreements

Swap agreements are typically two-party contracts entered into primarily by institutional investors. In a standard “swap” transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments, which may be adjusted for an interest factor. The gross returns to be exchanged or

156

Notes to Financial Statements (Unaudited) (Continued)

“swapped” between the parties are generally calculated with respect to a “notional amount,” (i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or in a “basket” of securities representing a particular index).

Interest Rate Swaps. When a Fund enters into an interest rate swap, it typically agrees to make payments to its counterparty based on a specified long- or short-term interest rate, and will receive payments from its counterparty based on another interest rate. Other forms of interest rate swap agreements include interest rate caps, under which, in return for a specified payment stream, one party agrees to make payments to the other to the extent that interest rates exceed a specified rate, or “cap”; interest rate floors, under which, in return for a specified payment stream, one party agrees to make payments to the other to the extent that interest rates fall below a specified rate, or “floor”; and interest rate collars, under which a party sells a cap and purchases a floor or vice versa in an attempt to protect itself against interest rate movements exceeding given minimum or maximum levels. A Fund may enter into an interest rate swap in order, for example, to hedge against the effect of interest rate changes on the value of specific securities in its portfolio, or to adjust the interest rate sensitivity (duration) or the credit exposure of its portfolio overall, or otherwise as a substitute for a direct investment in debt securities.

Whenever a Fund enters into a swap agreement, it takes on counterparty risk — the risk that its counterparty will be unable or unwilling to meet its obligations under the swap agreement. The Fund also takes the risk that the market will move against its position in the swap agreement. In the case of an interest rate swap, the value of the swap may increase or decrease depending on changes in interest rates. When the Fund enters into any type of swap for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the swap, at least in part. Swap agreements may be non-transferable or otherwise highly illiquid, and a Fund may not be able to terminate or transfer a swap agreement at any particular time or at an acceptable price.

Centrally Cleared Swaps. Certain clearinghouses currently offer clearing for limited types of derivatives transactions, principally certain interest rate swaps, certain index swaps, and credit derivatives. In a cleared derivative transaction, a Fund typically enters into the transaction with a financial institution counterparty, and performance of the transaction is effectively guaranteed by a central clearinghouse, thereby reducing or eliminating the Fund’s exposure to the credit risk of its original counterparty. The Fund will be required to post amounts (“initial margin”) with the clearinghouse or at the instruction of the clearinghouse. The initial margin required by a clearinghouse may be greater than the initial margin the Fund would be required to post in an uncleared transaction. If cash is deposited as the initial margin, it is shown as collateral on a Fund’s Statement of Assets and Liabilities. Swap agreements are marked-to-market daily and subsequent payments (“variation margin”) are made or received by a Fund depending on whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on a Fund’s Statement of Assets and Liabilities (“Variation margin on open derivative instruments”) and as a component of net change in unrealized appreciation (depreciation) on a Fund’s Statement of Operations. Only a limited number of transaction types are currently eligible for clearing.

During the term of a swap transaction, changes in the value of the swap are recognized as unrealized gains or losses by marking to market to reflect the market value of the swap. When the swap is terminated, a Fund will record a realized gain or loss equal to the difference, if any, between the proceeds from (or cost of) the closing transaction and a Fund’s basis in the agreement. Upfront swap premium payments paid or received by a Fund, if any, are recorded within the value of the open swap agreement on the Fund’s Statement of Assets and Liabilities and represent payments paid or received upon entering into the swap agreement to compensate for differences between stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, and other relevant factors). These upfront payments are recorded as realized gain or loss on the Fund’s Statement of Operations upon termination or maturity of the swap agreement.

During the term of a swap transaction, the periodic net payments can be made for a set period of time or may be triggered by a predetermined credit event. The net periodic payments may be based on a fixed or variable interest rate, the change in market value of a specified security, basket of securities or index, or the return generated by a security. These periodic payments received or made by the Funds are recorded in the accompanying Statements of Operations as realized gains and losses, respectively.

157

Notes to Financial Statements (Unaudited) (Continued)

The Fund(s) listed in the following table had open swap transactions at June 30, 2017. A Fund’s current exposure to a counterparty is the fair value of the transaction.

Counterparty

Currency

Notional Amount

Expiration Date

Payments Made by Fund

Payments Received by Fund

Unrealized Appreciation (Depreciation)

Premium (Received) Paid

Value

Total Return Bond Fund*

Interest Rate Swaps

Centrally Cleared Swaps

USD

2,130,000

6/30/19

Fixed 1.602%

3-Month USD-LIBOR-BBA

$

1,646

$

-

$

1,646

USD U.S. Dollar

* Collateral for swap agreements held by Citibank N.A. amounted to $9,488 in cash at June 30, 2017.

Options, Rights, and Warrants

A Fund may purchase and sell put and call options on securities or an index of securities to enhance investment performance or to protect against changes in market prices. A Fund that invests in debt securities may also purchase and sell put and call options to adjust the interest rate sensitivity of its portfolio or the credit exposure of the portfolio.

Call Options. A call option gives the holder the right to purchase, and obligates the writer to sell, a security at the strike price at any time before the expiration date.

Put Options. A put option gives the holder the right to sell, and obligates the writer to buy, a security at the exercise price at any time before the expiration date.

Writing put and call options. A Fund may write call options on a security it owns, in a “directional” strategy hoping to realize a greater current return through the receipt of premiums. In return for the option premium, the Fund takes the risk that it will have to forego any increase in the value of the security over the strike price. When a Fund has written a call option on a security it does not own, its exposure on such an option is theoretically unlimited. A Fund may enter into closing purchase transactions in order to realize a profit or limit a loss on a previously written call option or, in the case of a call option on a security it owns, to free itself to sell the underlying security or to write another call on the security, or protect a security from being called in an unexpected market rise. Any profits from a closing purchase transaction in the case of a call option on a security a Fund owns may be offset by a decline in the value of the underlying security. Conversely, because increases in the market price of a call option will generally reflect increases in the market price of the underlying security, any loss resulting from a closing purchase transaction relating to a call option on a security a Fund owns is likely to be offset in whole or in part by unrealized appreciation of the underlying security owned by the Fund. A Fund may not be able to close out a call option that it has previously written. A Fund may write put options in order to enhance its current return by taking a long directional position as to a security or index of securities. By writing a put option, the Fund assumes the risk that it may be required to purchase the underlying security for an exercise price higher than its then current market value, resulting in a potential capital loss unless the security later appreciates in value. A Fund may terminate a put option that it has written before it expires by entering into a closing purchase transaction. Any loss from this transaction may be partially or entirely offset by the premium received on the terminated option. A Fund may not be able to close out a put option that it has previously written.

When a Fund writes a call or put option, an amount equal to the premium received is recorded as a liability. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against the amount paid on the underlying investment to determine the realized gain or loss.

Purchasing put and call options. A Fund may purchase put options to protect portfolio holdings against a decline in market value of a security or securities held by it. A Fund may also purchase a put option hoping to profit from an anticipated decline in the value of the underlying security. If the Fund holds the security underlying the option, the option premium and any transaction costs will reduce any profit the Fund might have realized had it sold the underlying security instead of buying the put option. A Fund

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may purchase call options to hedge against an increase in the price of securities that the Fund wants ultimately to buy. A Fund may also purchase a call option as a long directional investment hoping to profit from an anticipated increase in the value of the underlying security. In order for a call option to be profitable, the market price of the underlying security must rise sufficiently above the exercise price to cover the premium and transaction costs. These costs will reduce any profit the Fund might have realized had it bought the underlying security at the time it purchased the call option.

When a Fund purchases an option, it runs the risk that it will lose its entire investment in the option in a relatively short period of time, unless the Fund exercises the option or enters into a closing sale transaction before the option’s expiration. If the price of the underlying security does not rise (in the case of a call) or fall (in the case of a put) to an extent sufficient to cover the option premium and transaction costs, the Fund will lose part or all of its investment in the option. This contrasts with an investment by a Fund in the underlying security, since the Fund will not realize a loss if the security’s price does not change. Premiums paid for purchasing options that expire are treated as realized losses.

Exchange Traded Options. Exchange traded options purchased or sold by a Fund may be traded on a securities or options exchange or market. Such options typically have minimal exposure to counterparty risk. However, an exchange or market may at times find it necessary to impose restrictions on particular types of options transactions, such as opening transactions. If an underlying security ceases to meet qualifications imposed by the market or the Options Clearing Corporation, new series of options on that security will no longer be opened to replace expiring series, and opening transactions in existing series may be prohibited. Exchange traded options are valued at the last sale price, or if no sales are reported, the last bid price.

Rights and Warrants. A Fund may purchase or hold warrants or rights in order to gain exposure to the underlying security without owning the security, including, for example, cases where the Fund hopes to lock in the price today of a security it may wish to purchase in the future. Warrants generally give the holder the right, but not the obligation, to buy a security at a stated price. In order for a warrant to be profitable, the market price of the underlying security must rise sufficiently above the exercise price to cover any premium and transaction costs. Rights may similarly confer on the holder the right to purchase or acquire securities, including through participation in a so-called rights offering. Bonds may be issued with warrants or other rights attached to purchase or acquire equity or other debt securities, typically of the bond issuer. The market prices of bonds with warrants or rights attached to purchase equity securities or bonds may, to some degree, reflect changes in the values of the underlying securities.

When a Fund purchases or otherwise acquires warrants or other rights, it runs the risk that it will lose its entire investment in the warrants or rights, unless the Fund exercises the warrant or right, acquires the underlying securities, or enters into a closing transaction before expiration. If the price of the underlying security does not rise to an extent sufficient to cover any premium and transaction costs, the Fund will lose part or all of its investment. Any premiums or purchase price paid for warrants or other rights that expire are treated as realized losses. Warrants and similar rights differ from options in that they are typically written by the issuer of the security underlying the warrant or right. Although some warrants and rights may be non-transferable, others may be traded over-the-counter or on an exchange.

The Fund(s) listed in the following table had open written option contracts at June 30, 2017:

	Units		Expiration Date		Description	Premiums Received		Value
Managed Volatility Fund
		83		7/14/17	S&P 500 Index Call, Strike 2,450.00	$	128,442	$	30,295
		79		7/21/17	S&P 500 Index Call, Strike 2,390.00		314,230		394,605
		86		7/21/17	S&P 500 Index Call, Strike 2,400.00		326,585		326,800
		86		7/21/17	S&P 500 Index Call, Strike 2,425.00		274,985		162,540
		86		7/28/17	S&P 500 Index Call, Strike 2,440.00		177,913		122,120
		85		8/18/17	S&P 500 Index Call, Strike 2,375.00		552,288		601,375
		87		8/18/17	S&P 500 Index Call, Strike 2,425.00		391,283		260,826
		77		8/18/17	S&P 500 Index Call, Strike 2,450.00		176,908		127,820
		84		9/15/17	S&P 500 Index Call, Strike 2,450.00		298,326		241,920
						$	2,640,960	$	2,268,301

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Transactions in written option contracts during the period ended June 30, 2017, were as follows:

	Number of Contracts			Premiums Received
Managed Volatility Fund
Options outstanding at December 31, 2016		804		$	3,199,761
Options written		3,689			10,411,389
Options terminated in closing purchase transactions		(3,740	)		(10,970,190	)
Options outstanding at June 30, 2017		753		$	2,640,960

Inflation-Indexed Bonds

The Funds may invest in inflation-indexed bonds, which are fixed income securities whose principal value or coupon is periodically adjusted according to the rate of inflation, as measured by the Consumer Price Index for All Urban Consumers (“CPI-U”) (for U.S. Treasury inflation-indexed bonds) or, generally, by a comparable inflation index calculated by the foreign government issuing the inflation-indexed bonds.

If the periodic adjustment rate measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds, even during a period of deflation. However, the current market value of the bonds is not guaranteed, and will fluctuate. The Funds may also invest in other inflation related bonds which may or may not provide a similar guarantee. If a guarantee of principal is not provided, the adjusted principal value of the bond repaid at maturity may be less than the original principal. Any adjustments to the principal amount of an inflation-indexed bond due to inflation will be reflected as increases or decreases to interest income. Such adjustments may have a significant impact on the Fund’s distributions.

The value of inflation-indexed bonds is generally based on changes in real interest rates, which in turn are tied to the relationship between nominal interest rates and the rate of inflation. Therefore, if nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in value of inflation-indexed bonds. While the values of these securities are expected to be protected from long-term inflationary trends, short-term increases in inflation may lead to a decline in value. There can be no assurance that the CPI-U or any foreign inflation index will accurately measure the real rate of inflation, or that the rate of inflation in a foreign country will correlate to the rate of inflation in the United States. Additionally, if interest rates rise due to reasons other than inflation, investors in these securities may not be protected to the extent that the increase is not reflected in the bond’s inflation measure.

Bank Loans

Certain of the Funds may invest in bank loans including, for example, corporate loans, loan participations, direct debt, bank debt, and bridge debt. A Fund may invest in a loan by lending money to a borrower directly as part of a syndicate of lenders. In a syndicated loan, the agent that originated and structured the loan typically administers and enforces the loan on behalf of the syndicate. Failure by the agent to fulfill its obligations may delay or adversely affect receipt of payment by a Fund. A Fund may also invest in loans through novations, assignments, and participation interests. In a novation, a Fund typically assumes all of the rights of a lending institution in a loan, including the right to receive payments of principal and interest and other amounts directly from the borrower and to enforce its rights as a lender directly against the borrower. When a Fund takes an assignment of a loan, the Fund acquires some or all of the interest of another lender (or assignee) in the loan. In such cases, the Fund may be required generally to rely upon the assignor to demand payment and enforce rights under the loan. If a Fund acquires a participation in the loan, the Fund purchases an indirect interest in a loan held by a third party and the Fund typically will have a contractual relationship only with the third party loan investor, not with the borrower. As a result, a Fund may have the right to receive payments of principal, interest, and any fees to which it is entitled only from the loan investor selling the participation and only upon receipt by such loan investor of such payments from the borrower. In such cases, a Fund assumes the credit risk of both the

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borrower and the loan investor selling the participation, and the Fund may be unable to realize some or all of the value of its interest in the loan in the event of the insolvency of the third party.

Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. The value of any collateral securing a bank loan may decline after the Fund invests, and there is a risk that the value of the collateral may not be sufficient to cover the amount owed to the Fund.

At June 30, 2017, the Funds had no unfunded loan commitments.

Repurchase Agreements

Each Fund may enter into repurchase agreements with certain banks and broker-dealers whereby a Fund acquires a security for cash and obtains a simultaneous commitment from the seller to repurchase the security at an agreed upon price and date. A Fund, through its custodian, takes possession of the securities collateralizing the repurchase agreement in a segregated account. Repurchase agreements must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral, or if the Fund is required to return collateral to a borrower at a time when it may realize a loss on the investment of that collateral.

When-Issued, Delayed-Delivery, Forward Commitment, and To-Be-Announced Transactions

A Fund may enter into when-issued, delayed-delivery, forward commitment, or to-be-announced (“TBA”) transactions (collectively, the “Forward Transactions”) in order to lock in the purchase price of the underlying security, or in order to adjust the interest rate exposure of the Fund’s existing portfolio. In Forward Transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date. In the case of TBA purchase commitments, the unit price and the estimated principal amount are established when the Fund enters into a commitment, with the actual principal amount being within a specified range of the estimate. Although a Fund does not typically pay for the securities in these types of transactions until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. As a result, each of these types of transactions may create investment leverage in a Fund’s portfolio and increase the volatility of the Fund. If a Fund’s counterparty fails to deliver a security purchased in a Forward Transaction, there may be a loss, and the Fund may have missed an opportunity to make an alternative investment.

These securities are valued on the basis of valuations furnished by a pricing service, selected pursuant to procedures approved by the Trustees, which determines valuations taking into account appropriate factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Securities for which no market quotation is available are valued at fair value in accordance with procedures approved by the Trustees. The Funds record on a daily basis the unrealized appreciation (depreciation) based upon changes in the values of these securities. When a Forward Transaction is closed, the Funds record a realized gain or loss equal to the difference between the value of the transaction at the time it was opened and the value of the transaction at the time it was closed.

Securities Lending

Each Fund may lend its securities; however, lending cannot exceed 33% of the total assets of the Fund taken at current value. The Funds’ securities lending activities are governed by a Securities Lending Agency Agreement (“Lending Agreement”) between each Fund and the lending agent (“agent”). The Lending Agreement authorizes the agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each, a “Borrower”).

Each Fund expects that in connection with any securities on loan, the loan will be secured continuously by collateral consisting of cash or securities adjusted daily to have market value at least equal to the current market value of the securities loaned. The market value of the loaned securities is determined at the close of business of a Fund and any additional collateral is delivered to the Fund the next business day. The Funds bear the risk of loss with respect to the investment of cash collateral. As with other extensions of credit, the Funds may bear the risk of delay in recovery of the loaned securities or even loss of rights in the collateral should the

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Notes to Financial Statements (Unaudited) (Continued)

Borrower of the securities fail financially. Pursuant to the Lending Agreement, the agent has provided indemnification to the Funds in the event of default by a Borrower with respect to a loan. The Funds receive compensation for lending their securities in the form of a securities loan fee paid by the Borrower, as well as a share of the income earned on investment of the cash collateral received for the loaned securities. At June 30, 2017, the Funds’ collateral was equal to or greater than 100% of the market value of securities on loan.

Security loans can be terminated at the discretion of either the lending agent or the Fund and the related securities must be returned within the earlier of the standard trade settlement period for such securities or within three business days. For all Funds, all securities on loan are classified as common stock in the Fund’s Portfolio of Investments at June 30, 2017.

The Funds employ the agent to implement their securities lending program and the agent receives a fee from the Funds for its services. In addition, the Funds may be required to pay a rebate to the Borrower. Accordingly, a Fund’s compensation for lending its securities is reduced by any such fees or rebate paid to the securities lending agent or Borrower, respectively. For the period ended June 30, 2017, the Fund(s) earned securities lending net income as follows:

	Securities Lending Gross Income		Securities Lending Fees and Expenses		Securities Lending Net Income
Foreign Fund	$	103,970	$	21,569	$	82,401
Global Fund		13,766		2,997		10,769
International Equity Fund		45,059		9,051		36,008
Mid Cap Growth Fund		90,801		18,134		72,667
Small Cap Growth Equity Fund		71,367		14,293		57,074
Small Company Value Fund		15,206		3,033		12,173

Accounting for Investment Transactions

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

Foreign Currency Translation

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

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Notes to Financial Statements (Unaudited) (Continued)

Allocation of Operating Activity

In maintaining the records for the Funds, the income and expense accounts are allocated daily to each class of shares. Investment income and loss, and unrealized and realized gains or losses are prorated among the classes of shares based on the relative net assets of each. Expenses are allocated to each class of shares depending on the nature of the expenditures. Administration and service fees, if any, which are directly attributable to a class of shares, are charged to that class’s operations. Expenses of a Fund not directly attributable to the operations of any specific class of shares of the Fund are prorated among the classes to which the expense relates based on relative net assets.

Foreign Securities

Each of the Foreign Fund and the International Equity Fund invests substantially all of its assets and the Global Fund invests a significant amount of its assets in foreign securities. The other Funds may also invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.

Federal Income Tax

It is each Fund’s intent to continue to comply with the provisions of subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to federal income taxes on their ordinary income and net realized capital gains to the extent they are distributed or deemed to have been distributed to their shareholders. Therefore, the Funds have not made any provision for federal income tax.

Dividends and Distributions to Shareholders

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

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

3. Advisory Fees and Other Transactions

Investment Advisory Fees and Investment Subadvisers

MML Investment Advisers, LLC (“MML Advisers”), a wholly-owned subsidiary of MassMutual, serves as investment adviser to each Fund. Under the investment advisory agreements between MML Advisers and the Trust on behalf of each Fund, MML Advisers is responsible for providing investment management services for each Fund. In return for these services, MML Advisers receives advisory fees, based upon each Fund’s average daily net assets, at the annual rates shown in the following table.

MML Advisers has also entered into investment subadvisory agreements for each Fund with the unaffiliated investment subadviser(s) shown in the following table. MML Advisers pays a subadvisory fee to each of these subadvisers based upon the aggregate net assets under management which include (1) the average daily net assets of the specified Fund which it manages, and, if applicable, (2) the average daily net assets of all other Funds or accounts of MML Advisers or its affiliates for which the subadviser provides subadvisory services and which have substantially the same investment objective, policies, and investment strategies.

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Notes to Financial Statements (Unaudited) (Continued)

The Funds’ subadvisory fees are paid by MML Advisers out of the advisory fees.

Fund	Investment Advisory Fee	Investment Subadviser(s)
Blue Chip Growth Fund	0.75% on the first $400 million; and	T. Rowe Price Associates, Inc.
	0.70% on any excess over $400 million
Equity Income Fund	0.75% on the first $500 million; and	T. Rowe Price Associates, Inc.
	0.70% on any excess over $500 million
Equity Index Fund	0.10% on the first $500 million; and	Northern Trust Investments, Inc.
	0.08% on any excess over $500 million
Focused Equity Fund*	0.70% on the first $250 million; and	Wellington Management Company LLP
	0.60% on any excess over $250 million
Foreign Fund	0.89% on the first $500 million; and	Templeton Investment Counsel, LLC
	0.85% on any excess over $500 million
Fundamental Growth Fund	0.62% on the first $250 million; and	Wellington Management Company LLP
	0.60% on any excess over $250 million
Fundamental Value Fund	0.60% on the first $500 million; and	Wellington Management Company LLP
	0.575% on any excess over $500 million
Global Fund	0.60% on the first $500 million; and	Massachusetts Financial Services Company
	0.55% on any excess over $500 million
Growth & Income Fund	0.50% on the first $500 million; and	Massachusetts Financial Services Company
	0.475% on any excess over $500 million
Income & Growth Fund	0.65% on the first $500 million; and	BlackRock Investment Management, LLC
	0.60% on any excess over $500 million
International Equity Fund	0.80% on the first $250 million; and	Harris Associates L.P.
	0.75% on any excess over $250 million
Large Cap Growth Fund	0.65% on the first $500 million; and	Loomis, Sayles & Company, L.P.
	0.60% on any excess over $500 million
Managed Volatility Fund	0.75% on the first $500 million; and	Gateway Investment Advisers, LLC
	0.70% on any excess over $500 million
Mid Cap Growth Fund	0.77% on the first $500 million; and	T. Rowe Price Associates, Inc.
	0.75% on any excess over $500 million
Mid Cap Value Fund	0.84% on the first $500 million; and	American Century Investment Management, Inc.
	0.80% on any excess over $500 million
Small Cap Growth Equity Fund	1.04% on the first $200 million; and	Wellington Management Company LLP
	1.00% on any excess over $200 million
Small Company Value Fund	0.80% on the first $150 million; and	T. Rowe Price Associates, Inc.
	0.70% on any excess over $150 million
Small/Mid Cap Value Fund	0.75% on the first $500 million; and	AllianceBernstein L.P.
	0.70% on any excess over $500 million
Total Return Bond Fund	0.40% on the first $500 million; and	Metropolitan West Asset Management, LLC
	0.38% on any excess over $500 million

* Effective May 1, 2017, Wellington Management Company LLP replaced Harris Associates L.P. as subadviser to the Fund.

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Notes to Financial Statements (Unaudited) (Continued)

Administration Fees

For the Equity Index Fund, Focused Equity Fund, Fundamental Growth Fund, Fundamental Value Fund, Global Fund, International Equity Fund, Small Company Value Fund, and Total Return Bond Fund, under a separate Administrative and Shareholder Services Agreement between the Funds and MML Advisers, MML Advisers is obligated to provide all necessary administrative and shareholder services and bear some of the Fund specific administrative expenses. In return for these services, MML Advisers receives an administrative services fee based upon the average daily net assets of the applicable class of shares of the Funds, at the following annual rates:

	Class I		Class II		Class III		Service Class I
Equity Index Fund		0.30%		0.15%		None		0.30%
Focused Equity Fund		N/A		0.15%		N/A		0.15%
Fundamental Growth Fund		N/A		0.15%		N/A		0.15%
Fundamental Value Fund		N/A		0.15%		N/A		0.15%
Global Fund		0.15%		0.15%		N/A		0.15%
International Equity Fund		N/A		0.15%		N/A		0.15%
Small Company Value Fund		N/A		0.15%		N/A		0.15%
Total Return Bond Fund		N/A		0.15%		N/A		0.15%

Distribution and Service Fees

MML Distributors, LLC (the “Distributor”) acts as distributor to the Funds. Pursuant to a Distribution and Services Plan adopted by the Funds pursuant to Rule 12b-1 under the 1940 Act, Service Class shares and Service Class I shares of the Funds pay an annual fee of 0.25% of the average daily net asset value of Service Class shares and Service Class I shares. This fee, or a portion thereof, is paid to: (i) the Distributor for services provided and expenses incurred by it in connection with the distribution of Service Class shares or Service Class I shares, as applicable, of each Fund; and/or (ii) MassMutual for services provided and expenses incurred by it for purposes of maintaining or providing personal services to Service Class and Service Class I shareholders. The Distributor is a wholly-owned subsidiary of MassMutual.

Expense Caps and Waivers

MML Advisers agreed to cap the fees and expenses of the Funds noted below (other than extraordinary litigation and legal expenses, Acquired Fund Fees and Expenses^#, interest expense, short sale dividend and loan expense, or other non-recurring or unusual expenses such as organizational expenses and shareholder meeting expenses) based upon the average daily net assets of the applicable class of shares of the Funds, as follows:

	Class II		Service Class I
Fundamental Growth Fund*		0.85%		1.10%
International Equity Fund*		1.00%		1.25%
Total Return Bond Fund*		0.60%		0.85%

# Acquired Fund Fees and Expenses are expenses borne indirectly by a Fund through investments in other pooled investment vehicles.

* Expense caps in effect through April 30, 2018.

MML Advisers has agreed to voluntarily waive 0.03% of the advisory fee of the Equity Income Fund. MML Advisers may amend or discontinue this waiver at any time without advance notice.

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Notes to Financial Statements (Unaudited) (Continued)

MML Advisers has agreed to voluntarily waive 0.05% of the advisory fee of the Small Company Value Fund. MML Advisers may amend or discontinue this waiver at any time without advance notice.

Expense caps and waiver amounts are reflected as a reduction of expenses on the Statements of Operations.

Rebated Brokerage Commissions

The Funds listed below have entered into agreements with certain brokers whereby the brokers will rebate to the Funds, in cash, a portion of brokerage commissions. Rebated brokerage commissions are amounts earned by the Funds and are included with realized gain or loss on investment transactions presented in the Statements of Operations. For the period ended June 30, 2017, brokerage commissions rebated under these agreements were as follows:

	Rebated Commissions
Blue Chip Growth Fund	$	1,017
Equity Income Fund		1,356
Foreign Fund		3
Fundamental Growth Fund		7
Global Fund		172
Growth & Income Fund		1,562
Income & Growth Fund		157
Large Cap Growth Fund		56
Managed Volatility Fund		333
Mid Cap Growth Fund		3,019
Small Cap Growth Equity Fund		1,845
Small Company Value Fund		543
Small/Mid Cap Value Fund		4,618

Deferred Compensation

Trustees of the Funds who are not officers or employees of MassMutual may elect to defer receipt of their annual fees in accordance with terms of a Non-Qualified Deferred Compensation Plan. Amounts deferred shall accrue interest or earnings and shall be recorded on the Funds’ books as other liabilities. Deferred compensation is included within Trustees’ fees and expenses in the Statements of Assets and Liabilities.

Other

Certain officers and trustees of the Funds may also be employees of MassMutual. The compensation of a trustee who is not an employee of MassMutual is borne by the Funds.

Elaine A. Sarsynski resigned as a Trustee of the Trust effective as of February 1, 2017. Teresa Hassara became a Trustee of the Trust effective as of June 6, 2017.

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4. Purchases and Sales of Investments

Cost of purchases and proceeds from sales of investment securities (excluding short-term investments) for the period ended June 30, 2017, were as follows:

	Purchases				Sales
	Long-Term U.S. Government Securities		Other Long-Term Securities		Long-Term U.S. Government Securities		Other Long-Term Securities
Blue Chip Growth Fund	$	-	$	46,488,989	$	-	$	139,780,841
Equity Income Fund		-		66,437,159		-		71,702,964
Equity Index Fund		-		108,113,099		-		10,182,165
Focused Equity Fund		-		82,129,627		-		157,442,472
Foreign Fund		-		21,125,996		-		33,340,653
Fundamental Growth Fund		-		27,182,035		-		72,964,795
Fundamental Value Fund		-		23,768,529		-		42,823,882
Global Fund		-		12,791,003		-		48,859,493
Growth & Income Fund		-		8,886,851		-		14,667,829
Income & Growth Fund		-		59,416,799		-		52,355,260
International Equity Fund		-		41,831,621		-		39,667,459
Large Cap Growth Fund		-		94,748		-		13,613,612
Managed Volatility Fund		-		2,597,661		-		15,397,816
Mid Cap Growth Fund		-		63,819,315		-		95,598,250
Mid Cap Value Fund		-		85,321,972		-		109,334,240
Small Cap Growth Equity Fund		-		80,580,116		-		94,098,633
Small Company Value Fund		-		5,793,474		-		7,732,564
Small/Mid Cap Value Fund		-		32,408,636		-		49,852,137
Total Return Bond Fund		626,609,823		52,685,446		640,479,899		39,567,911

5. Capital Share Transactions

Changes in shares outstanding for each Fund were as follows:

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Blue Chip Growth Fund Initial Class
Sold		706,635		$	10,994,307			1,829,690		$	26,464,359
Issued as reinvestment of dividends		-			-			3,178,098			44,016,658
Redeemed		(7,021,094	)		(108,712,390	)		(5,822,807	)		(84,697,374	)
Net increase (decrease)		(6,314,459	)	$	(97,718,083	)		(815,019	)	$	(14,216,357	)
Blue Chip Growth Fund Service Class
Sold		434,609		$	6,623,222			843,322		$	11,915,061
Issued as reinvestment of dividends		-			-			408,070			5,513,029
Redeemed		(198,328	)		(3,006,778	)		(516,842	)		(7,327,640	)
Net increase (decrease)		236,281		$	3,616,444			734,550		$	10,100,450
Equity Income Fund Initial Class
Sold		3,122,186		$	38,165,683			1,822,027		$	20,681,583
Issued as reinvestment of dividends		-			-			4,457,802			48,991,248
Redeemed		(3,734,789	)		(45,071,564	)		(7,467,353	)		(84,435,481	)
Net increase (decrease)		(612,603	)	$	(6,905,881	)		(1,187,524	)	$	(14,762,650	)

167

Notes to Financial Statements (Unaudited) (Continued)

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Equity Income Fund Service Class
Sold		409,838		$	4,918,119			823,658		$	9,374,307
Issued as reinvestment of dividends		-			-			746,940			8,141,646
Redeemed		(606,952	)		(7,221,389	)		(570,439	)		(6,484,581	)
Net increase (decrease)		(197,114	)	$	(2,303,270	)		1,000,159		$	11,031,372
Equity Index Fund Class I
Sold		99,901		$	2,797,224			195,781		$	5,000,396
Issued as reinvestment of dividends		-			-			107,635			2,760,846
Redeemed		(362,857	)		(10,183,905	)		(816,790	)		(20,848,027	)
Net increase (decrease)		(262,956	)	$	(7,386,681	)		(513,374	)	$	(13,086,785	)
Equity Index Fund Class II
Sold		496,068		$	13,891,713			530,976		$	13,600,841
Issued as reinvestment of dividends		-			-			273,077			7,004,425
Redeemed		(583,800	)		(16,407,954	)		(828,193	)		(20,989,328	)
Net increase (decrease)		(87,732	)	$	(2,516,241	)		(24,140	)	$	(384,062	)
Equity Index Fund Class III
Sold		3,464,359		$	95,343,796			3,454,116		$	91,463,486
Issued as reinvestment of dividends		-			-			302,119			7,740,287
Redeemed		(330,801	)		(9,383,388	)		(178,330	)		(4,513,366	)
Net increase (decrease)		3,133,558		$	85,960,408			3,577,905		$	94,690,407
Equity Index Fund Service Class I
Sold		95,932		$	2,604,946			171,504		$	4,242,101
Issued as reinvestment of dividends		-			-			63,228			1,580,076
Redeemed		(110,209	)		(2,988,593	)		(203,834	)		(4,947,697	)
Net increase (decrease)		(14,277	)	$	(383,647	)		30,898		$	874,480
Focused Equity Fund Class II
Sold		296,027		$	4,191,695			842,595		$	10,160,682
Issued as reinvestment of dividends		-			-			974,312			11,808,665
Redeemed		(5,890,465	)		(83,253,755	)		(4,185,139	)		(52,228,414	)
Net increase (decrease)		(5,594,438	)	$	(79,062,060	)		(2,368,232	)	$	(30,259,067	)
Focused Equity Fund Service Class I
Sold		138,531		$	1,939,729			85,127		$	1,035,236
Issued as reinvestment of dividends		-			-			40,044			482,130
Redeemed		(64,135	)		(901,534	)		(186,584	)		(2,232,873	)
Net increase (decrease)		74,396		$	1,038,195			(61,413	)	$	(715,507	)
Foreign Fund Initial Class
Sold		1,458,267		$	14,802,968			4,766,959		$	44,140,856
Issued as reinvestment of dividends		-			-			721,750			6,733,929
Redeemed		(3,122,382	)		(31,719,209	)		(5,117,276	)		(47,134,979	)
Net increase (decrease)		(1,664,115	)	$	(16,916,241	)		371,433		$	3,739,806
Foreign Fund Service Class
Sold		43,138		$	432,209			113,772		$	1,038,692
Issued as reinvestment of dividends		-			-			20,806			193,084
Redeemed		(121,378	)		(1,222,748	)		(252,633	)		(2,300,078	)
Net increase (decrease)		(78,240	)	$	(790,539	)		(118,055	)	$	(1,068,302	)

168

Notes to Financial Statements (Unaudited) (Continued)

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Fundamental Growth Fund Class II
Sold		425,784		$	5,303,480			1,199,321		$	14,211,982
Issued as reinvestment of dividends		-			-			1,903,133			21,600,562
Redeemed		(4,314,956	)		(53,955,083	)		(3,258,560	)		(38,379,284	)
Net increase (decrease)		(3,889,172	)	$	(48,651,603	)		(156,106	)	$	(2,566,740	)
Fundamental Growth Fund Service Class I
Sold		77,611		$	958,843			134,103		$	1,564,543
Issued as reinvestment of dividends		-			-			38,353			430,695
Redeemed		(32,059	)		(397,245	)		(32,918	)		(388,876	)
Net increase (decrease)		45,552		$	561,598			139,538		$	1,606,362
Fundamental Value Fund Class II
Sold		1,319,723		$	20,253,354			2,062,479		$	27,882,168
Issued as reinvestment of dividends		-			-			1,391,644			19,608,258
Redeemed		(2,564,873	)		(38,947,567	)		(3,561,951	)		(51,188,268	)
Net increase (decrease)		(1,245,150	)	$	(18,694,213	)		(107,828	)	$	(3,697,842	)
Fundamental Value Fund Service Class I
Sold		135,324		$	2,036,232			171,789		$	2,410,217
Issued as reinvestment of dividends		-			-			48,204			671,970
Redeemed		(48,795	)		(733,664	)		(132,120	)		(1,868,524	)
Net increase (decrease)		86,529		$	1,302,568			87,873		$	1,213,663
Global Fund Class I
Sold		377,551		$	4,728,998			2,598,743		$	29,871,905
Issued as reinvestment of dividends		-			-			1,719,683			20,068,702
Redeemed		(3,553,974	)		(44,938,040	)		(4,521,059	)		(53,115,062	)
Net increase (decrease)		(3,176,423	)	$	(40,209,042	)		(202,633	)	$	(3,174,455	)
Global Fund Class II
Sold		26,639		$	338,589			83,397		$	996,780
Issued as reinvestment of dividends		-			-			115,847			1,376,262
Redeemed		(90,482	)		(1,150,990	)		(188,416	)		(2,259,699	)
Net increase (decrease)		(63,843	)	$	(812,401	)		10,828		$	113,343
Global Fund Service Class I
Sold		151,636		$	1,857,897			288,887		$	3,365,358
Issued as reinvestment of dividends		-			-			91,432			1,058,779
Redeemed		(117,149	)		(1,470,458	)		(233,534	)		(2,653,374	)
Net increase (decrease)		34,487		$	387,439			146,785		$	1,770,763
Growth & Income Fund Initial Class
Sold		66,170		$	1,010,260			83,218		$	1,108,925
Issued as reinvestment of dividends		-			-			77,520			1,079,085
Redeemed		(533,498	)		(8,146,559	)		(998,028	)		(13,418,679	)
Net increase (decrease)		(467,328	)	$	(7,136,299	)		(837,290	)	$	(11,230,669	)
Growth & Income Fund Service Class
Sold		152,397		$	2,315,128			331,928		$	4,463,523
Issued as reinvestment of dividends		-			-			12,363			171,221
Redeemed		(102,490	)		(1,549,956	)		(133,828	)		(1,798,978	)
Net increase (decrease)		49,907		$	765,172			210,463		$	2,835,766

169

Notes to Financial Statements (Unaudited) (Continued)

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Income & Growth Fund Initial Class
Sold		2,506,209		$	30,953,129			3,182,082		$	34,660,334
Issued as reinvestment of dividends		-			-			2,288,205			25,307,549
Redeemed		(2,049,843	)		(24,984,393	)		(3,264,374	)		(37,162,575	)
Net increase (decrease)		456,366		$	5,968,736			2,205,913		$	22,805,308
Income & Growth Fund Service Class
Sold		218,847		$	2,644,854			371,022		$	4,206,923
Issued as reinvestment of dividends		-			-			168,049			1,841,818
Redeemed		(131,326	)		(1,584,254	)		(285,123	)		(3,271,760	)
Net increase (decrease)		87,521		$	1,060,600			253,948		$	2,776,981
International Equity Fund Class II
Sold		1,520,978		$	15,691,244			1,971,894		$	17,061,558
Issued as reinvestment of dividends		-			-			419,628			3,642,368
Redeemed		(1,390,122	)		(14,056,828	)		(4,857,377	)		(43,062,552	)
Net increase (decrease)		130,856		$	1,634,416			(2,465,855	)	$	(22,358,626	)
International Equity Fund Service Class I
Sold		98,159		$	1,019,826			48,207		$	424,819
Issued as reinvestment of dividends		-			-			2,580			22,321
Redeemed		(23,805	)		(241,801	)		(108,685	)		(935,487	)
Net increase (decrease)		74,354		$	778,025			(57,898	)	$	(488,347	)
Large Cap Growth Fund Initial Class
Sold		553,649		$	6,478,937			1,278,788		$	14,028,042
Issued as reinvestment of dividends		-			-			1,498,948			16,278,575
Redeemed		(1,755,906	)		(20,524,192	)		(11,384,877	)		(123,856,300	)
Net increase (decrease)		(1,202,257	)	$	(14,045,255	)		(8,607,141	)	$	(93,549,683	)
Large Cap Growth Fund Service Class
Sold		90,292		$	1,050,400			81,402		$	891,887
Issued as reinvestment of dividends		-			-			29,777			316,827
Redeemed		(31,113	)		(363,503	)		(69,781	)		(749,495	)
Net increase (decrease)		59,179		$	686,897			41,398		$	459,219
Managed Volatility Fund Initial Class
Sold		484,819		$	5,844,540			611,322		$	7,531,963
Issued as reinvestment of dividends		-			-			2,741,867			31,583,234
Redeemed		(980,171	)		(11,797,076	)		(1,816,708	)		(23,703,734	)
Net increase (decrease)		(495,352	)	$	(5,952,536	)		1,536,481		$	15,411,463
Managed Volatility Fund Service Class
Sold		127,161		$	1,521,657			205,968		$	2,692,032
Issued as reinvestment of dividends		-			-			585,189			6,691,391
Redeemed		(162,731	)		(1,942,923	)		(333,962	)		(4,391,787	)
Net increase (decrease)		(35,570	)	$	(421,266	)		457,195		$	4,991,636
Mid Cap Growth Fund Initial Class
Sold		384,674		$	5,989,374			1,110,396		$	16,404,679
Issued as reinvestment of dividends		-			-			3,283,291			47,049,556
Redeemed		(2,100,885	)		(32,832,861	)		(4,029,757	)		(60,608,550	)
Net increase (decrease)		(1,716,211	)	$	(26,843,487	)		363,930		$	2,845,685

170

Notes to Financial Statements (Unaudited) (Continued)

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Mid Cap Growth Fund Service Class
Sold		360,236		$	5,469,276			556,668		$	8,058,126
Issued as reinvestment of dividends		-			-			666,919			9,296,846
Redeemed		(329,073	)		(4,999,522	)		(533,707	)		(7,680,021	)
Net increase (decrease)		31,163		$	469,754			689,880		$	9,674,951
Mid Cap Value Fund Initial Class
Sold		1,233,585		$	15,082,768			1,763,938		$	19,370,422
Issued as reinvestment of dividends		-			-			4,436,936			48,717,562
Redeemed		(3,099,316	)		(37,489,877	)		(9,309,783	)		(105,641,591	)
Net increase (decrease)		(1,865,731	)	$	(22,407,109	)		(3,108,909	)	$	(37,553,607	)
Mid Cap Value Fund Service Class
Sold		474,892		$	5,685,245			736,023		$	8,348,539
Issued as reinvestment of dividends		-			-			400,965			4,346,455
Redeemed		(398,556	)		(4,742,445	)		(444,687	)		(4,956,685	)
Net increase (decrease)		76,336		$	942,800			692,301		$	7,738,309
Small Cap Growth Equity Fund Initial Class
Sold		274,901		$	3,706,149			816,707		$	10,463,524
Issued as reinvestment of dividends		-			-			2,665,580			32,147,623
Redeemed		(1,544,994	)		(20,740,886	)		(2,841,442	)		(36,327,899	)
Net increase (decrease)		(1,270,093	)	$	(17,034,737	)		640,845		$	6,283,248
Small Cap Growth Equity Fund Service Class
Sold		79,731		$	1,023,184			125,182		$	1,542,294
Issued as reinvestment of dividends		-			-			190,406			2,198,947
Redeemed		(69,278	)		(881,564	)		(119,127	)		(1,432,928	)
Net increase (decrease)		10,453		$	141,620			196,461		$	2,308,313
Small Company Value Fund Class II
Sold		114,842		$	1,980,897			314,449		$	4,852,846
Issued as reinvestment of dividends		-			-			799,296			12,181,265
Redeemed		(341,978	)		(5,891,686	)		(1,883,020	)		(29,995,687	)
Net increase (decrease)		(227,136	)	$	(3,910,789	)		(769,275	)	$	(12,961,576	)
Small Company Value Fund Service Class I
Sold		201,787		$	3,385,708			193,177		$	2,982,699
Issued as reinvestment of dividends		-			-			107,235			1,597,806
Redeemed		(109,328	)		(1,833,397	)		(124,129	)		(1,919,145	)
Net increase (decrease)		92,459		$	1,552,311			176,283		$	2,661,360
Small/Mid Cap Value Fund Initial Class
Sold		688,188		$	9,243,894			1,016,666		$	11,162,219
Issued as reinvestment of dividends		-			-			1,182,234			14,151,337
Redeemed		(1,739,170	)		(23,272,319	)		(3,593,861	)		(43,329,832	)
Net increase (decrease)		(1,050,982	)	$	(14,028,425	)		(1,394,961	)	$	(18,016,276	)
Small/Mid Cap Value Fund Service Class
Sold		165,901		$	2,203,303			174,099		$	2,111,665
Issued as reinvestment of dividends		-			-			95,585			1,135,556
Redeemed		(152,943	)		(2,028,474	)		(193,927	)		(2,306,575	)
Net increase (decrease)		12,958		$	174,829			75,757		$	940,646

171

Notes to Financial Statements (Unaudited) (Continued)

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
	Shares			Amount			Shares			Amount
Total Return Bond Fund Class II
Sold		2,826,954		$	29,231,116			9,918,042		$	103,634,335
Issued as reinvestment of dividends		-			-			557,268			5,873,606
Redeemed		(2,568,219	)		(26,617,179	)		(4,445,964	)		(46,473,766	)
Net increase (decrease)		258,735		$	2,613,937			6,029,346		$	63,034,175
Total Return Bond Fund Service Class I
Sold		238,870		$	2,452,728			723,394		$	7,489,748
Issued as reinvestment of dividends		-			-			31,915			333,516
Redeemed		(201,980	)		(2,073,420	)		(577,333	)		(5,957,325	)
Net increase (decrease)		36,890		$	379,308			177,976		$	1,865,939

6. Federal Income Tax Information

At June 30, 2017, the cost of securities and the unrealized appreciation (depreciation) in the value of investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:

	Federal Income Tax Cost		Tax Basis Unrealized Appreciation		Tax Basis Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Blue Chip Growth Fund	$	220,991,752	$	134,581,162	$	(2,838,023	)	$	131,743,139
Equity Income Fund		400,533,138		116,938,807		(11,466,555	)		105,472,252
Equity Index Fund		441,050,140		262,741,217		(7,722,627	)		255,018,590
Focused Equity Fund		67,465,767		2,972,772		(812,393	)		2,160,379
Foreign Fund		350,206,553		65,977,503		(22,722,753	)		43,254,750
Fundamental Growth Fund		117,006,946		27,313,765		(1,633,239	)		25,680,526
Fundamental Value Fund		178,318,919		57,365,610		(7,082,835	)		50,282,775
Global Fund		195,480,663		52,787,166		(3,692,454	)		49,094,712
Growth & Income Fund		90,411,064		45,518,966		(1,157,119	)		44,361,847
Income & Growth Fund		248,357,510		59,158,257		(4,701,916	)		54,456,341
International Equity Fund		158,167,195		24,889,950		(3,508,443	)		21,381,507
Large Cap Growth Fund		88,129,521		24,716,851		(1,484,427	)		23,232,424
Managed Volatility Fund		146,936,491		48,014,965		(8,239,681	)		39,775,284
Mid Cap Growth Fund		346,056,346		136,930,373		(4,404,154	)		132,526,219
Mid Cap Value Fund		416,238,910		73,640,440		(13,730,621	)		59,909,819
Small Cap Growth Equity Fund		223,438,197		35,632,944		(5,395,847	)		30,237,097
Small Company Value Fund		80,854,960		30,538,751		(2,220,046	)		28,318,705
Small/Mid Cap Value Fund		183,362,355		42,642,776		(8,195,332	)		34,447,444
Total Return Bond Fund		475,921,515		5,683,438		(4,232,926	)		1,450,512

Net capital loss carryforwards may be applied against any net realized taxable gains in succeeding years, subject to the carryforward period limitations, where applicable. On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the “Modernization Act”) was signed by the President. The Modernization Act changed the capital loss carryforward rules as they relate to regulated investment companies. Capital losses generated in tax years beginning after the date of enactment may now be carried forward indefinitely, and retain the character of the original loss. Under pre-enactment law, capital losses could be carried forward for up to eight tax years as short-term capital losses. The provisions affecting the utilization of capital loss carryforwards under the Modernization Act also require the utilization of post-enactment losses prior to the utilization of pre-enactment losses.

172

Notes to Financial Statements (Unaudited) (Continued)

At December 31, 2016, the following Fund(s) had available, for federal income tax purposes, pre-enactment unused capital losses:

	Expiring 2017		Expiring 2018
Foreign Fund	$	5,029,961	$	4,482,917
Growth & Income Fund		14,247,716		-

Net capital loss carryforwards for the Fund(s) shown in the table above are from pre-enactment years and are, therefore, subject to the eight-year carryforward period and possible expiration.

At December 31, 2016, the following Fund(s) had post-enactment accumulated capital loss carryforwards:

	Short Term Capital Loss Carryforward		Long Term Capital Loss Carryforward
Foreign Fund	$	419,005	$	10,106,869
Managed Volatility Fund		4,898,382		-
International Equity Fund		1,598,914		11,040,436
Total Return Bond Fund		847,048		-

Net capital loss carryforwards for the Fund(s) shown in the above table are from post-enactment years and are, therefore, not subject to the eight-year carryforward period and possible expiration.

Generally accepted accounting principles in the United States of America require that only distributions in excess of tax basis earnings and profits be reported in the financial statements as a return of capital.

The tax character of distributions (including capital gain dividends, if any, designated pursuant to Section 852 of the Code) paid during the year ended December 31, 2016, was as follows:

	Ordinary Income		Long Term Capital Gain		Return of Capital
Blue Chip Growth Fund	$	694,802	$	48,834,885	$	-
Equity Income Fund		9,291,436		47,841,458		-
Equity Index Fund		8,411,169		10,674,465		-
Focused Equity Fund		2,825,171		9,465,624		-
Foreign Fund		6,927,013		-		-
Fundamental Growth Fund		1,183,093		20,848,164		-
Fundamental Value Fund		4,256,760		16,023,468		-
Global Fund		3,088,772		19,414,971		-
Growth & Income Fund		1,250,306		-		-
Income & Growth Fund		5,016,926		22,132,441		-
International Equity Fund		3,664,689		-		-
Large Cap Growth Fund		231,013		16,364,389		-
Managed Volatility Fund		3,180,298		35,094,327		-
Mid Cap Growth Fund		1,790,170		54,556,232		-
Mid Cap Value Fund		18,837,469		34,226,548		-
Small Cap Growth Equity Fund		-		34,346,570		-
Small Company Value Fund		604,802		13,174,269		-
Small/Mid Cap Value Fund		1,871,211		13,415,682		-
Total Return Bond Fund		6,207,122		-		-

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The following Fund(s) have elected to pass through the foreign tax credit for the year ended December 31, 2016:

	Amount
Foreign Fund	$	632,455
International Equity Fund		317,487

Capital accounts within the financial statements are periodically adjusted for permanent differences between book and tax accounting. These adjustments have no impact on net assets or the results of operations. Temporary book and tax accounting differences will reverse in subsequent periods. At December 31, 2016, temporary book and tax accounting differences were primarily attributable to investments in forward contracts, futures contracts, options contracts, premium amortization accruals, passive foreign investment companies, non-taxable dividends basis adjustments, the deferral of wash sale losses, and deferred Trustee compensation.

At December 31, 2016, the components of distributable earnings on a tax basis were as follows:

	Undistributed Ordinary Income		Undistributed Long Term Capital Gain (Capital Loss Carryover)			Other Temporary Differences			Unrealized Appreciation (Depreciation)
Blue Chip Growth Fund	$	17,808	$	31,249,799		$	(50,979	)	$	115,532,743
Equity Income Fund		11,628,514		32,345,971			(78,673	)		103,873,724
Equity Index Fund		9,164,474		18,152,735			(99,387	)		202,648,360
Focused Equity Fund		3,204,744		11,024,918			(15,264	)		26,179,542
Foreign Fund		8,049,996		(20,038,752	)		(56,235	)		1,394,673
Fundamental Growth Fund		1,392,041		14,042,026			(19,751	)		22,444,752
Fundamental Value Fund		4,677,306		15,548,054			(24,073	)		51,610,103
Global Fund		2,924,147		18,100,319			(23,015	)		31,984,018
Growth & Income Fund		1,301,691		(14,247,716	)		(28,088	)		35,216,502
Income & Growth Fund		5,928,691		19,941,135			(31,256	)		52,289,972
International Equity Fund		2,912,997		(12,639,350	)		(8,547	)		(2,082,920	)
Large Cap Growth Fund		5,221,196		22,755,665			(25,374	)		8,065,593
Managed Volatility Fund		2,352,607		(4,898,382	)		650,323			28,244,010
Mid Cap Growth Fund		2,177,025		41,973,718			(58,260	)		103,711,923
Mid Cap Value Fund		12,221,631		23,631,517			(71,527	)		62,782,503
Small Cap Growth Equity Fund		75,028		7,965,966			(47,473	)		18,097,559
Small Company Value Fund		646,518		11,796,107			(13,060	)		29,157,874
Small/Mid Cap Value Fund		1,443,012		12,912,946			(34,434	)		40,843,466
Total Return Bond Fund		8,677,152		(847,048	)		(39,946	)		(5,606,958	)

The Funds did not have any unrecognized tax benefits at June 30, 2017, nor were there any increases or decreases in unrecognized tax benefits for the period then ended. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as an income tax expense in the Statements of Operations. During the period ended June 30, 2017, the Funds did not incur any such interest or penalties. The Funds are subject to examination by U.S. federal and state tax authorities for returns filed for the prior three fiscal years. Foreign taxes are provided for based on the Funds’ understanding of the tax rules and rates that exist in the foreign markets in which they invest.

7. Indemnifications

Under the Funds’ organizational documents, current and former Trustees and Officers are provided with specified rights to indemnification against liabilities arising in connection with the performance of their duties to the Funds, and shareholders are indemnified against personal liability for obligations of the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown as this

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would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

8. New Accounting Pronouncements

In October 2016, the Securities and Exchange Commission (“SEC”) released its Final Rule on Investment Company Reporting Modernization (the “Rule”). The Rule, which introduces two new regulatory reporting forms for investment companies — Form N-PORT and Form N-CEN — also contains amendments to Regulation S-X which impact financial statement presentation, particularly the presentation of derivative investments. Management is still evaluating the impact of the Rule; however, management believes that many of the Regulation S-X amendments are consistent with the Funds’ current financial statement presentation and expects that each Fund will be able to comply with the Rule’s Regulation S-X amendments by the August 1, 2017 compliance date.

In March 2017, FASB issued Accounting Standards Update 2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”). For entities that hold callable debt securities at a premium, ASU 2017-08 requires that the premium be amortized to the earliest call date. ASU 2017-08 would first be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Management is still evaluating the potential impact of ASU 2017-08 but believes that adoption of ASU 2017-08 will not have a material effect on each Fund’s financial position or its results of operations.

9. Legal Proceedings

On December 7, 2010, the Trust was named as a defendant and putative member of the proposed defendant class of shareholders named in an adversary proceeding brought by The Official Committee of Unsecured Creditors of Tribune Company (the “Official Committee”) in the U.S. Bankruptcy Court for the District of Delaware, in connection with Tribune Company’s Chapter 11 bankruptcy proceeding (In re Tribune Company). The proceeding relates to a leveraged buyout (“LBO”) transaction by which Tribune Company converted to a privately-held company in 2007, and the putative defendant class is comprised of beneficial owners of shares of Tribune Company who received proceeds (the “Proceeds”) of the LBO. The Official Committee seeks to recover payments of those Proceeds.

The potential amounts sought to be recovered from the Equity Income Fund and Equity Index Fund, plus interest and the Official Committee’s court costs, are approximately $4,562,800 and $207,706, respectively.

In addition, on June 2, 2011, the Equity Income Fund was named as a defendant in two closely related, parallel adversary proceedings brought in connection with the Tribune Company’s LBO by Deutsche Bank Trust Company Americas, in its capacity as successor indenture trustee for a certain series of Senior Notes, Law Debenture Trust Company of New York, in its capacity as successor indenture trustee for a certain series of Senior Notes, and Wilmington Trust Company, in its capacity as successor indenture trustee for the PHONES Notes (together, the “Plaintiffs”), one in the United States District Court for the District of Massachusetts and one in the United States District Court for the District of Connecticut. The Plaintiffs also seek to recover payments of the Proceeds.

The Funds cannot predict the outcome of these proceedings. Accordingly, the Funds have not accrued any amounts related to these proceedings. If the proceedings were to be decided in a manner adverse to the Funds, or if the Funds were to enter into a settlement agreement with the Official Committee or the Plaintiffs, as applicable, the payment of such judgment or settlement could potentially have a material adverse effect on the Funds’ net asset values depending on the net assets of each applicable Fund at the time of such judgment or settlement.

10. Subsequent Events

In preparation of these financial statements, management has evaluated the events and transactions subsequent to June 30, 2017, through the date when the financial statements were issued, and determined that there are no subsequent events or transactions that would require adjustments to or disclosures in the Funds’ financial statements.

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Other Information (Unaudited)

Proxy Voting

A description of the policies and procedures that each Fund’s investment adviser and subadvisers use to vote proxies relating to the Fund’s portfolio securities is available, without charge, upon request, by calling 1-888-309-3539, and on the SEC’s EDGAR database on its website at http://www.sec.gov.

Information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available, without charge, upon request, on the MassMutual website at http://www.massmutual.com/funds and on the SEC’s EDGAR database on its website at http://www.sec.gov.

Quarterly Reporting

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s EDGAR database on its website at http://www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington D.C. Information on the operation of the SEC’s Public Reference Room may be obtained by calling 1-800-SEC-0330.

Trustees’ Approval of Investment Advisory Contracts

At their meeting in March 2017, the Trustees, including the Trustees who are not “interested persons” (as such term is defined in the 1940 Act) of the Trust, MML Advisers, or the subadvisers (the “Independent Trustees”), approved a new subadvisory agreement (“New Subadvisory Agreement”) with Wellington Management Company LLP (“Wellington Management”) for the Focused Equity Fund. In preparation for the meeting, the Trustees requested, and MML Advisers provided in advance, certain materials relevant to the consideration of the New Subadvisory Agreement. In all of their deliberations, the Trustees were advised by independent counsel.

In reviewing the New Subadvisory Agreement, the Independent Trustees discussed with MML Advisers and considered a wide range of information about, among other things: (i) Wellington Management and its personnel with responsibilities for providing services to the Focused Equity Fund; (ii) the terms of the New Subadvisory Agreement; (iii) the scope and quality of services that Wellington Management will provide under the New Subadvisory Agreement; (iv) the historical investment performance track record of Wellington Management; and (v) the fee payable to Wellington Management by MML Advisers for the Focused Equity Fund and the effect of such fee on the profitability to MML Advisers.

Based on the foregoing, the Trustees concluded that: (i) overall, they were satisfied with the nature, extent, and quality of services expected to be provided under the New Subadvisory Agreement; (ii) MML Advisers’ projected level of profitability due to the New Subadvisory Agreement was not excessive and the subadvisory fee amount under the New Subadvisory Agreement is fair and reasonable; (iii) the investment processes, research capabilities, and philosophies of Wellington Management appear well suited to the Focused Equity Fund, given its investment objectives and policies; and (iv) the terms of the New Subadvisory Agreement are fair and reasonable with respect to the Focused Equity Fund and are in the best interests of the Focused Equity Fund’s shareholders. After carefully considering the information summarized above, the Trustees, including the Independent Trustees voting separately, unanimously voted to approve the New Subadvisory Agreement.

The New Subadvisory Agreement became effective on May 1, 2017.

Also at their meeting in March 2017, the Trustees, including the Independent Trustees, reviewed and approved a proposal to make changes to the existing subadvisory agreement between MML Advisers and T. Rowe Price Associates, Inc. (“T. Rowe Price”) for the Equity Income Fund in order to allow for the aggregation of assets across other funds subadvised by T. Rowe Price and to add language applicable to future breakpoints to the fees paid by MML Advisers to T. Rowe Price. In arriving at their decision, the Trustees discussed the fees payable to T. Rowe Price for the Equity Income Fund by MML Advisers and the effect of such fees on the profitability to MML Advisers. The Trustees concluded that they were satisfied that MML Advisers’ projected level of profitability due to the amended subadvisory agreement (the “Amended Agreement”) was not excessive and the subadvisory fee amount under the Amended Agreement was fair and reasonable. In their deliberations, the Trustees were advised by independent counsel.

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Other Information (Unaudited) (Continued)

The Amended Agreement became effective on March 28, 2017.

Prior to the votes being taken to approve the New Subadvisory Agreement and Amended Agreement discussed above, the Independent Trustees met separately in executive session to discuss the appropriateness of the contracts. The Independent Trustees weighed the foregoing matters in light of the advice given to them by their independent legal counsel as to the law applicable to the review of investment advisory contracts. In arriving at a decision, the Trustees, including the Independent Trustees, did not identify any single matter as all-important or controlling. The foregoing summary does not detail all of the matters considered.

At their meetings in May and June 2017, the Contract Committee (the “Committee”) and the Trustees, including the Independent Trustees, re-approved the existing advisory and subadvisory agreements (collectively, the “Contracts”) for each of the Blue Chip Growth Fund, Equity Income Fund, Equity Index Fund, Focused Equity Fund, Foreign Fund, Fundamental Growth Fund, Fundamental Value Fund, Global Fund, Growth & Income Fund, Income & Growth Fund, International Equity Fund, Large Cap Growth Fund, Managed Volatility Fund, Mid Cap Growth Fund, Mid Cap Value Fund, Small Cap Growth Equity Fund, Small Company Value Fund, Small/Mid Cap Value Fund, and Total Return Bond Fund. In preparation for the meetings, the Trustees requested, and MML Advisers and the subadvisers provided in advance, certain materials relevant to the consideration of the Contracts (the “Meeting Materials”). In all of their deliberations, the Trustees were advised by independent counsel.

The Committee received in advance of the meetings (i) a memorandum from MML Advisers discussing the nature and quality of the services it provides as investment adviser to the Funds; (ii) a profitability analysis prepared by MML Advisers; and (iii) a fee and performance study report (the “Third-Party Report”) with respect to each Fund prepared by an independent third-party vendor (the “Third-Party”). The Third Party Report provided detailed comparative advisory fee, total expense, and performance information for each Fund to assist the Committee in its evaluation of the Contracts. The Committee also considered information presented to it throughout the year regarding MML Advisers and each of the subadvisers.

The Committee considered the nature, scope, and quality of services MML Advisers provides to the Funds, including: (i) the financial condition, stability, and business strategy of MML Advisers; (ii) the capabilities of MML Advisers with respect to regulatory compliance and its ability to monitor compliance with the investment policies of the Funds; (iii) MML Advisers’ ability to provide investment oversight and provide for administrative and shareholder services to the Funds; and (iv) the experience and qualifications of the personnel of MML Advisers that perform, or oversee the performance of, the services provided to the Funds, and the needs of the Funds for administrative and shareholder services.

The Committee then reviewed and considered, for each Fund separately, the detailed information presented in the Third-Party Report regarding: (i) Fund expenses, including, among other things, both the Fund’s advisory fee and total net expense ratio against peer funds; and (ii) the Fund’s relative performance (over various time periods against peer funds and a benchmark index). In connection with the Committee’s review, MML Advisers provided commentary and analysis regarding each Fund’s performance and expenses. The Committee also noted that it had received in the Meeting Materials or during the course of the past year: (i) detailed information regarding MML Advisers’ ability to provide investment oversight and provide for administrative and shareholder services to the Funds; and (ii) a wide range of information about each subadviser and its personnel with responsibility for providing services to the respective Fund and the fees payable to each subadviser by MML Advisers. MML Advisers reviewed with the Committee in detail the work MML Advisers does in its oversight roles, the expertise it brings to these roles, the size of its teams, and the financial commitment it has made to provide those services. Throughout the discussion, MML Advisers responded to Committee members’ questions and provided additional information concerning each Fund.

The Committee reviewed the expense and performance information for each Fund. (References to any one- or three-year period below are to periods ended December 31, 2016. The three-year periods do not apply for any Fund that does not yet have a three-year performance history. In all cases, the comparative expense information is that of a Fund’s “peer group” and the comparative performance information is that of a Fund’s “performance category.”)

The Committee considered that, in the case of a number of Funds, total net expense information showed the Funds to be in the first or second comparative quartile of their peer groups (least expensive), and performance information showed the Funds to have had first or second comparative quartile investment performance in their performance categories for the most recent one- and three-year periods. These Funds included the Global Fund, Small/ Mid Cap Value Fund, Income & Growth Fund, Mid Cap Growth Fund, Equity Index Fund, and Managed Volatility Fund. The Committee determined that no further consideration of these Funds was required at this time.

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The Committee noted the following expense considerations in respect of specific Funds that had achieved performance in the top two comparative quartiles:

• Mid Cap Value Fund – The Committee considered that the Fund’s relative performance was in the first decile for the three-year period and the first comparative quartile for the one-year period (4^th and 20^th percentiles, respectively). They noted that the Fund’s total net expense ratio, at the 58^th percentile, was 3 basis points above the peer group median. They considered MML Advisers’ statement that, although the Fund’s net advisory fee was in the fourth comparative quartile (86^th percentile), 10 basis points above peer group median, services provided for that fee include administrative service fees (which are used in part to provide shareholder services) in addition to advisory fees, and that, if those administrative service fees were charged separately, the Fund’s net advisory fee would compare more favorably to the Funds’ peers.

• Small Company Value Fund, Fundamental Growth Fund, and International Equity Fund, – The Committee noted that each of these Funds had achieved performance in the first comparative quartile for the one- and three-year periods (as applicable), except for the Fundamental Growth Fund, which achieved performance in the second comparative quartile for the one- and three-year periods (36^th and 29^th percentiles, respectively). The Committee noted, as well, that, although each Fund had total net expenses in the third comparative quartile (other than the Small Company Value Fund, whose total net expenses were in the fourth comparative quartile), each had a net advisory fee in the first or second comparative quartile. The Committee considered MML Advisers’ statement that, in each case, administrative service fees paid by the Funds to support shareholder servicing contributed significantly to the high relative net total expense ratio.

The Committee considered information regarding the Funds with total net expense ratios in the first or second comparative quartiles that had underperformed in recent periods compared to their peers.

• Blue Chip Growth Fund – The Committee noted that the Fund has total net expenses in the second comparative quartile (39^th percentile). The Committee considered MML Advisers’ statement that, although the Fund’s net advisory fee was in the third comparative quartile (73^rd percentile), 8 basis points above peer group median, services provided for that fee include administrative service fees (which are used in part to provide shareholder services) in addition to advisory fees, and that, if those administrative service fees were charged separately, the Fund’s net advisory fee would compare more favorably to the Fund’s peers. They considered MML Advisers’ statement that the Fund achieved second comparative quartile performance (30^th percentile) for the three-year period, although it underperformed for the one-year period (69^th percentile) due to its growth focus.

• Growth & Income Fund – The Committee considered MML Advisers’ statements that, although the Fund’s performance, which was in the fourth comparative quartile for the one- and three-year periods (76^th percentile in each case), was adversely affected in 2016 by the subadviser’s growth orientation, the performance of the Fund has been steadily improving over time and that MML Advisers believes the subadviser will deliver strong risk-adjusted performance over time. The Committee considered that the Fund’s total net expenses and net advisory fee were in the first comparative comparative quartile (11^th and 16^th percentiles, respectively), and that its net advisory fee was 9 basis points below the peer group median.

• Large Cap Growth Fund – The Committee noted that the Fund’s total net expenses were in the first comparative quartile (20^th percentile), and its net advisory fee was in the second comparative quartile (39^th percentile). The Committee considered MML Advisers’ statement that, although the Fund experienced performance in the fourth comparative quartile for the one- and three-year periods (84^th and 88^th percentiles, respectively) and is on Under Review status, the Fund’s subadviser was replaced in December 2016 with a new subadviser in which MML Advisers has a high degree of conviction, based on the stability of its portfolio management team, its investment process, and its long-term performance record.

The Committee considered information regarding the Funds with total net expense ratios in the third or fourth comparative quartiles and that had experienced performance in the third or fourth comparative quartiles. In each case, the Committee considered MML Advisers’ statement that the Fund’s total net expenses were high relative to peer expenses at least in part as a result of the administrative service fees paid by the Fund, which are intended to finance shareholder services to investors in the Fund.

• Equity Income Fund – The Committee considered that the Fund’s total net expense ratio is in the fourth comparative quartile (89^th percentile) and its net advisory fee is the highest among its peers and 11 basis points higher than the median. The Committee considered MML Advisers’ statement that services provided for that fee include administrative service fees (which are used in part to provide shareholder services) in addition to advisory fees, and that, if those administrative service fees were charged separately, the Fund’s net advisory fee would compare more favorably to the Funds’ peers. They also considered that

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Other Information (Unaudited) (Continued)

MML Advisers implemented a new fee waiver in the past year. The Committee considered that the Fund’s performance had improved from the fourth comparative quartile (87^th percentile) for the three-year period to the first comparative quartile (20^th percentile) for the one-year period. They also considered MML Advisers’ favorable view of a recent change in portfolio management personnel for the Fund. In the course of the discussion, the Committee discussed with MML Advisers the breakpoints in the advisory fee for the Fund. It was noted that, although the Fund’s advisory fee is subject to breakpoints, the breakpoint had not yet been reached. MML Advisers noted that the breakpoint had actually been lowered in the past year, and that the Fund had not yet reached the breakpoint because the Fund is not growing substantially.

• Foreign Fund – The Committee considered that the Fund has a total net expense ratio in the fourth comparative quartile (89^th percentile). The Committee considered MML Advisers’ statement that, although the Fund’s net advisory fee was in the fourth comparative quartile (100^th percentile), services provided for that fee include administrative service fees (which are used in part to provide shareholder services) in addition to advisory fees, and that, if those administrative service fees were charged separately, the Fund’s net advisory fee would compare more favorably to the Funds’ peers. The Committee noted MML Advisers’ statement that the Fund’s contrarian approach had underperformed in 2015, but had recovered somewhat in 2016, yielding a third quartile comparative performance for both the one- and three-year periods (65^th and 56^th percentiles, respectively). The Committee considered MML Advisers’ statement that the Fund has provided attractive long-term performance and has provided favorable performance against its benchmark over time.

• Focused Equity Fund – The Committee noted that the Fund’s total net expense ratio was in the fourth comparative quartile (84^th percentile), and its net advisory fee was in the third comparative quartile (59^th percentile). The Committee considered in this regard that the Adviser was proposing an immediate 5 basis point advisory fee waiver that was expected to bring total net expenses to within 4 basis points of the peer group median, and to bring the net advisory fee equal with the peer median. The Committee considered that, although the Fund had experienced fourth quartile comparative performance (81^st percentile) for the three-year period, its one-year performance had improved to the first decile (3^rd percentile). The Committee also considered that a new subadviser would take over management of the Fund as of May 1, 2017 in place of the previous subadviser, and that the Adviser has confidence in the ability of the new subadviser to achieve favorable long-term performance for the Fund.

• Fundamental Value Fund – The Committee considered that the Fund’s total net expenses were in the third comparative quartile (67^th percentile), but that the Fund’s net advisory fee was in the second comparative quartile (45^th percentile), 5 basis points below the peer group median. The Committee considered MML Advisers’ statement that administrative service fees paid by the Fund to support shareholder servicing contributed significantly to the high relative net total expense ratio. The Committee considered that the Fund had experienced three-year performance in the third comparative quartile (59^th percentile), including one-year performance at the 73^rd percentile. The Committee considered MML Advisers’ statement that it remains confident in the Fund’s subadviser.

• Small Cap Growth Equity Fund – The Committee considered that the Fund’s total net expense ratio was in the fourth comparative quartile (93^rd percentile) and its net advisory fee is the highest among its peers. The Committee considered MML Advisers’ statement that services provided for that fee include administrative service fees (which are used in part to provide shareholder services) in addition to advisory fees, and that, if those administrative service fees were charged separately, the Fund’s net advisory fee would compare more favorably to the Funds’ peers. The Committee considered that the Fund’s performance had improved from the third comparative quartile (57^th percentile) for the three-year period to the second comparative quartile (27^th percentile) for the one-year period.

• Total Return Bond Fund – The Committee considered that the Fund has total net expenses in the third comparative quartile (74^th percentile), and that the Fund’s net advisory fee is in the first comparative quartile (14^th percentile). The Committee considered MML Advisers’ statement that administrative service fees paid by the Fund to support shareholder servicing contributed significantly to the high relative net total expense ratio. The Committee considered that the Fund has achieved three-year performance in the fourth comparative quartile (88^th percentile), although its performance in the one-year period was in the third comparative quartile (74^th percentile). The Committee considered MML Advisers’ statements that the subadviser, which was appointed in 2014, has a strong long-term track record and that MML Advisers has strong conviction in the subadviser.

The Committee also reviewed and considered information included in the Meeting Materials, or discussed at the meeting, concerning economies of scale and the profitability of MML Advisers’ advisory relationship with the various Funds, including: (i) a description of the revenue (including advisory fees and administrative and shareholder services fees, as applicable) and expense allocation methodology employed by MML Advisers; and (ii) profitability information for each individual Fund. The

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discussions included consideration of the intangible benefits derived by MML Advisers and its affiliates resulting from their relationships with the Funds and the so-called “fallout benefits” to MML Advisers, such as any reputational value derived from serving as investment adviser to the Funds, and benefits accruing to subadvisers due to so-called “soft-dollar arrangements.”

Prior to the votes being taken to approve the Contracts, the Committee met separately in executive session to discuss the appropriateness of such contracts. The Committee weighed the foregoing matters in light of the advice given to them by their independent legal counsel as to the law applicable to the review of investment advisory contracts. In arriving at a decision, the Committee did not identify any single matter as all-important or controlling. The foregoing summary does not detail all of the matters considered.

As to each of the Funds, the Committee concluded that: (i) overall, it was satisfied with the nature, extent, and quality of services provided, and expected to be provided in the future, under the Contracts, including the level of MML Advisers’ oversight of each Fund and the subadvisory process; (ii) MML Advisers’ levels of profitability from its relationship with the various Funds are not excessive and the advisory fees payable under the Contracts and each Fund’s total net expenses are fair and reasonable; (iii) the investment processes, research capabilities, and philosophies of the subadvisers generally appear well suited to the Funds, given their investment objectives and policies; (iv) either the relative or absolute performance of a Fund (in each case, taking into account the applicable investment strategy and risk profile of the Fund), or the steps MML Advisers has proposed in respect of the underperformance of a Fund, are sufficient to warrant continuation of the Contracts for each of the Funds; and (v) the terms of the Contracts are fair and reasonable with respect to each Fund and are in the best interests of each Fund’s shareholders.

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Fund Expenses June 30, 2017

Expense Examples:

The following information is in regards to expenses for the six months ended June 30, 2017:

As a shareholder of the Funds, you incur ongoing costs, including advisory fees, distribution and/or service (12b-1) fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds. These examples are based on an investment of $1,000 invested for the six months ended June 30, 2017.

Actual Expenses:

The first four columns of the table below provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Operating Expenses Incurred” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes:

The last two columns of the table below provide information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the last two columns of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Value		Annualized Expense Ratio			Ending Value (Based on Actual Returns and Expenses)		Operating Expenses Incurred*		Ending Value (Based on Hypothetical Returns and Expenses)		Operating Expenses Incurred*
Blue Chip Growth Fund
Initial Class	$	1,000		0.79	%	$	1,191.70	$	4.29	$	1,020.90	$	3.96
Service Class		1,000		1.04	%		1,190.90		5.65		1,019.60		5.21
Equity Income Fund
Initial Class		1,000		0.76	%		1,056.00		3.87		1,021.00		3.81
Service Class		1,000		1.01	%		1,053.90		5.14		1,019.80		5.06
Equity Index Fund
Class I		1,000		0.43	%		1,091.20		2.23		1,022.70		2.16
Class II		1,000		0.28	%		1,091.90		1.45		1,023.40		1.40
Class III		1,000		0.13	%		1,092.80		0.67		1,024.10		0.65
Service Class I		1,000		0.68	%		1,089.80		3.52		1,021.40		3.41
Focused Equity Fund
Class II		1,000		0.92	%		1,122.00		4.84		1,020.20		4.61
Service Class I		1,000		1.17	%		1,119.80		6.15		1,019.00		5.86
Foreign Fund
Initial Class		1,000		0.97	%		1,130.30		5.12		1,020.00		4.86
Service Class		1,000		1.22	%		1,129.00		6.44		1,018.70		6.11

181

Other Information (Unaudited) (Continued)

	Beginning Value		Annualized Expense Ratio			Ending Value (Based on Actual Returns and Expenses)		Operating Expenses Incurred*		Ending Value (Based on Hypothetical Returns and Expenses)		Operating Expenses Incurred*
Fundamental Growth Fund
Class II	$	1,000		0.84	%	$	1,136.60	$	4.45	$	1,020.60	$	4.21
Service Class I		1,000		1.09	%		1,134.60		5.77		1,019.40		5.46
Fundamental Value Fund
Class II		1,000		0.80	%		1,059.00		4.08		1,020.80		4.01
Service Class I		1,000		1.05	%		1,057.00		5.36		1,019.60		5.26
Global Fund
Class I		1,000		0.82	%		1,157.70		4.39		1,020.70		4.11
Class II		1,000		0.82	%		1,158.40		4.39		1,020.70		4.11
Service Class I		1,000		1.07	%		1,156.60		5.72		1,019.50		5.36
Growth & Income Fund
Initial Class		1,000		0.56	%		1,121.20		2.95		1,022.00		2.81
Service Class		1,000		0.81	%		1,119.90		4.26		1,020.80		4.06
Income & Growth Fund
Initial Class		1,000		0.70	%		1,064.10		3.58		1,021.30		3.51
Service Class		1,000		0.95	%		1,063.00		4.86		1,020.10		4.76
International Equity Fund
Class II		1,000		1.00	%		1,169.30		5.38		1,019.80		5.01
Service Class I		1,000		1.25	%		1,167.90		6.72		1,018.60		6.26
Large Cap Growth Fund
Initial Class		1,000		0.72	%		1,181.60		3.89		1,021.20		3.61
Service Class		1,000		0.97	%		1,178.70		5.24		1,020.00		4.86
Managed Volatility Fund
Initial Class		1,000		0.90	%		1,044.40		4.56		1,020.30		4.51
Service Class		1,000		1.15	%		1,043.10		5.83		1,019.10		5.76
Mid Cap Growth Fund
Initial Class		1,000		0.81	%		1,147.00		4.31		1,020.80		4.06
Service Class		1,000		1.06	%		1,145.50		5.64		1,019.50		5.31
Mid Cap Value Fund
Initial Class		1,000		0.88	%		1,041.60		4.45		1,020.40		4.41
Service Class		1,000		1.13	%		1,039.60		5.71		1,019.20		5.66
Small Cap Growth Equity Fund
Initial Class		1,000		1.09	%		1,110.20		5.70		1,019.40		5.46
Service Class		1,000		1.34	%		1,108.90		7.01		1,018.10		6.71
Small Company Value Fund
Class II		1,000		0.97	%		1,013.90		4.84		1,020.00		4.86
Service Class I		1,000		1.22	%		1,013.10		6.09		1,018.70		6.11
Small/Mid Cap Value Fund
Initial Class		1,000		0.79	%		1,015.10		3.95		1,020.90		3.96
Service Class		1,000		1.04	%		1,013.70		5.19		1,019.60		5.21
Total Return Bond Fund
Class II		1,000		0.60	%		1,019.50		3.00		1,021.80		3.01
Service Class I		1,000		0.85	%		1,018.70		4.25		1,020.60		4.26

* Expenses are calculated using the annualized expense ratio for the six months ended June 30, 2017, multiplied by the average account value over the period, multiplied by 181 days in the period, divided by 365 days in the year, unless stated otherwise. The annualized expense ratio does not reflect expenses deducted under the variable life insurance or variable annuity contract through which the Funds are invested in. Inclusion of these expenses would increase the annualized expense ratios shown.

182

Underwriter:

MML Distributors, LLC

100 Bright Meadow Blvd.

Enfield, CT 06082-1981

^© 2017 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. Investment Adviser: MML Investment Advisers, LLC RS-42841-00

Item 2. Code of Ethics.

Not applicable to this filing.

Item 3. Audit Committee Financial Expert.

Not applicable to this filing.

Item 4. Principal Accountant Fees and Services.

Not applicable to this filing.

Item 5. Audit Committee of Listed Registrants.

Not applicable to this filing.

Item 6. Investments.

Please see portfolio of investments contained in the Reports to Stockholders included under Item 1 of this form N-CSR.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to this filing.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to this filing.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to this filing.

Item 10. Submission of Matters to a Vote of Security Holders.

Not applicable to this filing.

Item 11. Controls and Procedures.

(a) The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this Form N-CSR, to provide reasonable assurance that the information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the Registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Exhibits.

(a)(1) Code of Ethics (Item 2) is not applicable to this filing.

(a)(2) Certifications of the Principal Executive Officer and Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) are attached hereto as Exhibit 99CERT.

(a)(3) Not applicable to this filing.

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 as required by Rule 30a-2(b), under the 1940 Act (17 CFR 270.30a-2(b)), Rule 15d-14(b) under the Securities Exchange Act of 1934 (17 CFR 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) are attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)   MML Series Investment Fund

By (Signature and Title)	/s/ Tina Wilson
	Tina Wilson, President and Principal Executive Officer
Date   8/23/2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)	/s/ Tina Wilson
	Tina Wilson, President and Principal Executive Officer
Date   8/23/2017
By (Signature and Title)	/s/ Renee Hitchcock
	Renee Hitchcock, Treasurer and Principal Financial Officer
Date   8/23/2017