UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-3618

BRIGHTHOUSE FUNDS TRUST II

(Exact name of registrant as specified in charter)

One Financial Center

Boston, Massachusetts 02111

(Address of principal executive offices)(Zip code)

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

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

Date of fiscal year end: December 31

Date of reporting period: January 1, 2018 to September 30, 2018

Item 1. Schedule of Investments.

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

Brighthouse Funds Trust II

Schedule of Investments

September 30, 2018

Brighthouse Funds Trust II

Table of Contents

Schedule of Investments as of September 30, 2018 (Unaudited)
Baillie Gifford International Stock Portfolio	BHFTII-1
BlackRock Bond Income Portfolio	BHFTII-6
BlackRock Capital Appreciation Portfolio	BHFTII-50
BlackRock Ultra-Short Term Bond Portfolio	BHFTII-55
Brighthouse/Artisan Mid Cap Value Portfolio	BHFTII-58
Brighthouse/Dimensional International Small Company Portfolio	BHFTII-62
Brighthouse/Wellington Balanced Portfolio	BHFTII-101
Brighthouse/Wellington Core Equity Opportunities Portfolio	BHFTII-132
Brighthouse Asset Allocation 20 Portfolio	BHFTII-136
Brighthouse Asset Allocation 40 Portfolio	BHFTII-137
Brighthouse Asset Allocation 60 Portfolio	BHFTII-138
Brighthouse Asset Allocation 80 Portfolio	BHFTII-139
Frontier Mid Cap Growth Portfolio	BHFTII-140
Jennison Growth Portfolio	BHFTII-145
Loomis Sayles Small Cap Core Portfolio	BHFTII-150
Loomis Sayles Small Cap Growth Portfolio	BHFTII-157
MetLife Aggregate Bond Index Portfolio	BHFTII-162
MetLife Mid Cap Stock index Portfolio	BHFTII-179
MetLife Stock Index Portfolio	BHFTII-188
MetLife MSCI EAFE® Index Portfolio	BHFTII-198
MetLife Russell 2000® Index Portfolio	BHFTII-210
MFS® Total Return Portfolio	BHFTII-231
MFS® Value Portfolio	BHFTII-246
Neuberger Berman Genesis Portfolio	BHFTII-251
T. Rowe Price Large Cap Growth Portfolio	BHFTII-255
T. Rowe Price Small Cap Growth Portfolio	BHFTII-262
Van Eck Global Natural Resources Portfolio	BHFTII-270
Western Asset Management Strategic Bond Opportunities Portfolio	BHFTII-274
Western Asset Management U.S. Government Portfolio	BHFTII-299
Notes to Schedule of Investments	BHFTII-306

Not all Portfolios are available under every product.

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

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—98.2% of Net Assets

Security Description	Shares		Value
Argentina—2.7%
MercadoLibre, Inc. (a)		155,633	$	52,988,368
Australia—1.4%
Cochlear, Ltd.		140,697		20,520,843
Seek, Ltd.		421,538		6,301,114
				26,821,957
Brazil—1.2%
Itau Unibanco Holding S.A. (ADR) (a)		1,164,057		12,781,346
Kroton Educacional S.A.		3,920,400		11,066,487
				23,847,833
Canada—4.4%
Constellation Software, Inc.		42,571		31,306,403
Fairfax Financial Holdings, Ltd.		74,426		40,434,871
Ritchie Bros. Auctioneers, Inc.		348,653		12,596,833
				84,338,107
China—2.0%
Alibaba Group Holding, Ltd. (ADR) (b)		151,626		24,981,900
Ctrip.com International, Ltd. (ADR) (b)		339,611		12,623,341
				37,605,241
Denmark—3.5%
DSV A/S		379,662		34,500,168
Novozymes A/S - B Shares		352,547		19,311,868
Pandora A/S		216,515		13,534,758
				67,346,794
Finland—2.3%
Kone Oyj - Class B		544,802		29,085,363
Sampo Oyj - A Shares		307,017		15,884,590
				44,969,953
France—4.7%
Danone S.A.		240,476		18,616,831
Edenred		859,539		32,722,668
Essilor International Cie Generale d’Optique S.A.		116,459		17,220,767
Legrand S.A.		314,523		22,902,478
				91,462,744
Germany—8.5%
Brenntag AG		229,696		14,177,168
Continental AG		65,295		11,366,271
Deutsche Boerse AG		356,609		47,780,337
MTU Aero Engines AG		97,682		22,003,589
SAP SE		442,830		54,499,686
Scout24 AG s		311,673		14,532,622
				164,359,673
Hong Kong—4.5%
AIA Group, Ltd.		4,011,200		35,838,980
Hang Seng Bank, Ltd.		887,300		23,967,556

Security Description	Shares		Value
Hong Kong—(Continued)
Hong Kong Exchanges and Clearing, Ltd.		948,000	$	26,937,307
				86,743,843
India—0.9%
Housing Development Finance Corp., Ltd.		707,118		17,066,026
Ireland—5.0%
CRH plc		750,371		24,536,123
James Hardie Industries plc		838,564		12,661,424
Kingspan Group plc		580,933		27,059,611
Ryanair Holdings plc (ADR) (a)(b)		336,377		32,305,647
				96,562,805
Japan—11.8%
Denso Corp.		408,500		21,567,125
FANUC Corp.		83,500		15,746,405
Japan Exchange Group, Inc.		2,075,400		36,165,133
Nidec Corp.		186,600		26,851,260
Shimano, Inc.		174,100		28,059,960
SMC Corp.		77,400		24,778,106
Sony Corp.		408,000		25,021,683
Sumitomo Mitsui Trust Holdings, Inc.		564,900		23,247,491
Toyota Tsusho Corp.		726,200		27,417,614
				228,854,777
Netherlands—1.4%
Heineken Holding NV		293,462		26,572,926
Panama—1.0%
Copa Holdings S.A. - Class A		242,804		19,385,471
Peru—1.2%
Credicorp, Ltd.		102,148		22,787,176
Russia—0.6%
Magnit PJSC (GDR)		854,138		12,131,671
Singapore—1.5%
United Overseas Bank, Ltd.		1,481,364		29,273,735
South Africa—3.8%
Discovery, Ltd.		1,702,346		20,419,375
Naspers, Ltd. - N Shares		250,149		53,838,095
				74,257,470
South Korea—3.6%
NAVER Corp.		24,322		15,669,329
Samsung Electronics Co., Ltd.		1,295,715		54,267,472
				69,936,801
Spain—2.9%
Bankinter S.A.		2,006,777		18,479,560
Grifols S.A.		469,966		13,222,799
Industria de Diseno Textil S.A.		790,927		23,915,928
				55,618,287

BHFTII-1

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Sweden—4.1%
Atlas Copco AB - B Shares		1,163,562	$	31,012,695
Epiroc AB - Class B (b)		2,067,087		21,273,448
Svenska Handelsbanken AB - A Shares		2,185,241		27,572,519
				79,858,662
Switzerland—6.1%
Cie Financiere Richemont S.A.		225,742		18,378,297
Credit Suisse Group AG (b)		1,477,754		22,176,840
Nestle S.A.		552,939		46,063,182
Panalpina Welttransport Holding AG		76,588		11,148,661
SGS S.A.		7,859		20,674,079
				118,441,059
Taiwan—4.4%
Hon Hai Precision Industry Co., Ltd.		6,457,584		16,632,198
Taiwan Semiconductor Manufacturing Co., Ltd.		7,986,000		68,188,063
				84,820,261
United Kingdom—13.1%
ASOS plc (b)		168,182		12,591,056
boohoo.com plc (b)		6,660,547		20,315,839
Burberry Group plc		529,921		13,916,322
Experian plc		1,111,686		28,550,991
Hargreaves Lansdown plc		776,077		22,582,847
Howden Joinery Group plc		1,892,620		11,566,497
Just Eat plc (b)		3,003,763		26,225,288
Prudential plc		1,031,309		23,649,053
Rio Tinto plc		863,199		43,550,225
Rolls-Royce Holdings plc (b)		672,793		8,648,901
St. James’s Place plc		1,047,427		15,596,056
Unilever NV		479,004		26,672,909
				253,865,984
United States—1.6%
Pricesmart, Inc. (a)		130,472		10,561,708
Spotify Technology S.A. (b)		116,997		21,156,568
				31,718,276
Total Common Stocks (Cost $1,441,377,693)				1,901,635,900
Preferred Stock—0.3%
Spain—0.3%
Grifols S.A. - Class B , (Cost $6,362,013)		261,847		5,575,979

Short-Term Investment—1.3%
Security Description	Principal Amount*		Value
Repurchase Agreement—1.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $25,287,149; collateralized by U.S. Treasury Note at 2.250%, maturing 10/31/24, with a market value of $25,792,749.		25,285,042	$	25,285,042
Total Short-Term Investments (Cost $25,285,042)				25,285,042
Securities Lending Reinvestments (c)—3.8%
Certificates of Deposit—0.2%
Bank of Montreal Zero Coupon, 10/31/18		1,995,737		1,996,125
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		2,000,000		2,000,004
Natixis S.A. New York 2.504%, 1M LIBOR + 0.370%, 02/14/19 (d)		1,000,000		1,000,669
				4,996,798
Commercial Paper—0.3%
Bank of China, Ltd. 2.550%, 12/20/18		3,974,500		3,976,988
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (d)		1,500,000		1,500,766
				5,477,754
Repurchase Agreements—2.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $2,021,011; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $2,108,572.		2,000,000		2,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,100,205; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $1,122,001.		1,100,000		1,100,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,800,336; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $1,836,000.		1,800,000		1,800,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $1,732,036; collateralized by various Common Stock with an aggregate market value of $1,892,648.		1,700,000		1,700,000
Repurchase Agreement dated 08/24/18 at 2.560%, due on 10/01/18 with a maturity value of $10,027,022; collateralized by various Common Stock with an aggregate market value of $11,133,225.		10,000,000		10,000,000

BHFTII-2

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $1,204,759; collateralized by various Common Stock with an aggregate market value of $1,333,495.		1,200,000	$	1,200,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $4,223,134; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $4,303,523.		4,222,360		4,222,360
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $9,004,323; collateralized by various Common Stock with an aggregate market value of $9,901,928.		9,000,000		9,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $1,937,668; collateralized by various Common Stock with an aggregate market value of $2,114,045.		1,900,000		1,900,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $1,823,283; collateralized by various Common Stock with an aggregate market value of $2,002,779.		1,800,000		1,800,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $1,256,419; collateralized by various Common Stock with an aggregate market value of $1,390,930.		1,250,000		1,250,000
Societe Generale Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $2,633,200; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,887,686.		2,600,000		2,600,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,733,611; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,998,751.		2,700,000		2,700,000
Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $1,519,924; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,665,973.		1,500,000		1,500,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,418,827; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,557,133.		1,402,004		1,402,004

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $7,542,413; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,329,863.		7,500,000	$	7,500,000
				51,674,364
Time Deposits—0.6%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		3,000,000		3,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		3,000,000		3,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		2,000,000		2,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				11,000,000
Total Securities Lending Reinvestments (Cost $73,147,822)				73,148,916
Total Investments—103.6% (Cost $1,546,172,570)				2,005,645,837
Other assets and liabilities (net)—(3.6)%				(69,503,485	)
Net Assets—100.0%			$	1,936,142,352

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $71,154,315 and the collateral received consisted of cash in the amount of $73,144,601. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(GDR)—	Global Depositary Receipt
(LIBOR)—	London Interbank Offered Rate

BHFTII-3

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Ten Largest Industries as of September 30, 2018 (Unaudited)	% of Net Assets
Capital Markets		8.9
Banks		8.2
Insurance		7.0
Internet & Direct Marketing Retail		6.4
Machinery		6.3
Software		4.4
Semiconductors & Semiconductor Equipment		3.5
Food Products		3.3
Professional Services		2.9
Technology Hardware, Storage & Peripherals		2.8

BHFTII-4

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Argentina	$	52,988,368	$	—		$	—	$	52,988,368
Australia		—		26,821,957			—		26,821,957
Brazil		23,847,833		—			—		23,847,833
Canada		84,338,107		—			—		84,338,107
China		37,605,241		—			—		37,605,241
Denmark		—		67,346,794			—		67,346,794
Finland		—		44,969,953			—		44,969,953
France		—		91,462,744			—		91,462,744
Germany		—		164,359,673			—		164,359,673
Hong Kong		—		86,743,843			—		86,743,843
India		—		17,066,026			—		17,066,026
Ireland		32,305,647		64,257,158			—		96,562,805
Japan		—		228,854,777			—		228,854,777
Netherlands		—		26,572,926			—		26,572,926
Panama		19,385,471		—			—		19,385,471
Peru		22,787,176		—			—		22,787,176
Russia		—		12,131,671			—		12,131,671
Singapore		—		29,273,735			—		29,273,735
South Africa		—		74,257,470			—		74,257,470
South Korea		—		69,936,801			—		69,936,801
Spain		—		55,618,287			—		55,618,287
Sweden		—		79,858,662			—		79,858,662
Switzerland		—		118,441,059			—		118,441,059
Taiwan		—		84,820,261			—		84,820,261
United Kingdom		—		253,865,984			—		253,865,984
United States		31,718,276		—			—		31,718,276
Total Common Stocks*		304,976,119		1,596,659,781			—		1,901,635,900
Total Preferred Stock*		—		5,575,979			—		5,575,979
Total Short-Term Investment*		—		25,285,042			—		25,285,042
Total Securities Lending Reinvestments*		—		73,148,916			—		73,148,916
Total Investments	$	304,976,119	$	1,700,669,718		$	—	$	2,005,645,837
Collateral for Securities Loaned (Liability)	$	—	$	(73,144,601	)	$	—	$	(73,144,601	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 2 to Level 1 in the amount of $20,802,326 were due to the discontinuation of a systematic fair valuation model factor.

BHFTII-5

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

U.S. Treasury & Government Agencies—43.3% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—33.9%
Fannie Mae 15 Yr. Pool 2.000%, 10/01/31		264,616	$	248,230
2.000%, 11/01/31		3,258,709		3,056,939
2.000%, 12/01/31		347,800		326,259
2.000%, 03/01/32		2,078,376		1,949,655
2.500%, 09/01/27		309,955		301,408
2.500%, 02/01/28		36,150		35,149
2.500%, 04/01/28		90,029		87,536
2.500%, 08/01/28		244,209		237,440
2.500%, 01/01/30		1,346,173		1,305,091
2.500%, 02/01/30		159,958		155,301
2.500%, 03/01/30		269,558		261,327
2.500%, 07/01/30		919,988		891,686
2.500%, 08/01/30		3,150,013		3,054,409
2.500%, 09/01/30		1,524,738		1,478,171
2.500%, 11/01/30		3,121,513		3,026,135
2.500%, 03/01/31		182,095		177,050
2.500%, 06/01/31		874,296		844,339
2.500%, 07/01/31		495,706		478,721
2.500%, 08/01/31		86,745		83,773
2.500%, 10/01/31		4,195,927		4,052,158
2.500%, 11/01/31		2,611,312		2,521,859
2.500%, 02/01/32		123,576		119,342
2.500%, 03/01/32		401,946		388,174
2.500%, 08/01/32		3,003,231		2,900,328
2.500%, 02/01/33		5,402,048		5,237,029
2.500%, TBA (a)		1,274,800		1,230,008
3.000%, 04/01/28		187,614		185,993
3.000%, 05/01/28		240,405		238,332
3.000%, 10/01/28		416,784		412,754
3.000%, 11/01/28		3,134,857		3,107,767
3.000%, 12/01/28		940,241		931,646
3.000%, 01/01/29		308,900		305,891
3.000%, 04/01/29		1,364,204		1,352,415
3.000%, 05/01/29		1,860,666		1,842,139
3.000%, 08/01/29		2,200,020		2,180,849
3.000%, 10/01/29		556,301		551,491
3.000%, 03/01/30		1,106,196		1,096,632
3.000%, 04/01/30		941,617		933,482
3.000%, 05/01/30		1,414,476		1,402,241
3.000%, 07/01/30		1,135,686		1,125,657
3.000%, 08/01/30		5,183,772		5,138,587
3.000%, 09/01/30		1,210,097		1,198,699
3.000%, 08/01/31		5,317,322		5,263,157
3.000%, 09/01/31		527,253		521,343
3.000%, 03/01/32		1,072,600		1,060,578
3.000%, TBA (a)		1,892,000		1,868,756
3.500%, 08/01/28		566,980		572,268
3.500%, 10/01/28		3,205,909		3,235,780
3.500%, 11/01/28		3,349,224		3,376,161
3.500%, 02/01/29		4,910,835		4,946,499
3.500%, 04/01/29		1,321,893		1,330,590
3.500%, 05/01/29		3,146,233		3,168,806
3.500%, 06/01/29		2,276,525		2,293,550
3.500%, 07/01/29		1,485,046		1,494,602
3.500%, 09/01/29		198,554		200,043

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 15 Yr. Pool
3.500%, 08/01/30		981,894	$	989,257
3.500%, 11/01/32		228,509		230,252
3.500%, 01/01/33		156,537		157,731
4.000%, 09/01/33		1,750,000		1,798,172
4.000%, 10/01/33		4,680,000		4,804,229
4.500%, 12/01/20		206,518		209,069
4.500%, 02/01/25		334,583		345,405
4.500%, 04/01/25		69,756		72,163
4.500%, 07/01/25		278,084		288,497
4.500%, 06/01/26		1,771,495		1,837,163
Fannie Mae 20 Yr. Pool 3.000%, 10/01/36		116,654		113,767
3.000%, 11/01/36		1,187,712		1,158,322
3.000%, 12/01/36		1,806,349		1,761,650
5.000%, 05/01/23		1,812		1,902
Fannie Mae 30 Yr. Pool 3.000%, 12/01/42		7,413,495		7,162,426
3.000%, 01/01/43		4,981,672		4,811,635
3.000%, 02/01/43		2,374,066		2,292,444
3.000%, 03/01/43		19,197,753		18,537,420
3.000%, 04/01/43		12,936,433		12,489,599
3.000%, 05/01/43		17,633,322		17,026,038
3.000%, 06/01/43		2,264,942		2,186,746
3.000%, 07/01/43		1,274,845		1,230,423
3.000%, 08/01/43		1,039,161		1,003,026
3.000%, 06/01/46		803,765		773,438
3.000%, 08/01/46		87,340		84,120
3.000%, 09/01/46		1,238,193		1,191,190
3.000%, 11/01/46		4,307,510		4,134,478
3.000%, 01/01/47		412,987		397,311
3.000%, 02/01/47		992,603		952,824
3.000%, 03/01/47		3,244,537		3,111,657
3.000%, TBA (a)		15,643,058		14,953,971
3.500%, 01/01/42		758,723		752,927
3.500%, 04/01/42		519,078		514,897
3.500%, 05/01/42		332,633		329,713
3.500%, 06/01/42		909,962		902,767
3.500%, 07/01/42		119,257		118,296
3.500%, 08/01/42		201,238		199,617
3.500%, 10/01/42		1,405,469		1,394,651
3.500%, 11/01/42		2,403,673		2,384,442
3.500%, 12/01/42		1,377,326		1,366,241
3.500%, 01/01/43		800,566		794,785
3.500%, 02/01/43		1,444,377		1,432,611
3.500%, 03/01/43		3,793,840		3,764,004
3.500%, 04/01/43		124,169		123,249
3.500%, 05/01/43		286,000		283,674
3.500%, 06/01/43		1,245,055		1,233,550
3.500%, 07/01/43		13,628,789		13,519,484
3.500%, 08/01/43		7,369,354		7,305,850
3.500%, 09/01/43		121,194		120,218
3.500%, 10/01/43		142,068		140,896
3.500%, 11/01/43		1,263,887		1,249,955
3.500%, 01/01/44		4,177,075		4,144,926
3.500%, 05/01/44		2,037,937		2,022,400

BHFTII-6

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
3.500%, 06/01/44		10,543,152	$	10,457,957
3.500%, 07/01/44		53,487		52,890
3.500%, 02/01/45		1,066,516		1,057,933
3.500%, 07/01/45		3,276,934		3,241,473
3.500%, 10/01/45		1,647,591		1,637,630
3.500%, 11/01/45		3,476,391		3,444,501
3.500%, 12/01/45		828,651		821,097
3.500%, 03/01/46		1,208,231		1,194,071
3.500%, 04/01/46		1,830,499		1,808,790
3.500%, 05/01/46		764,577		755,616
3.500%, 06/01/46		3,308,731		3,268,781
3.500%, 08/01/46		1,576,442		1,557,478
3.500%, 09/01/46		1,654,975		1,635,648
3.500%, 11/01/46		3,054,622		3,021,705
3.500%, 12/01/46		3,565,632		3,521,206
3.500%, 01/01/47		7,818,501		7,739,431
3.500%, 02/01/47		612,685		605,756
3.500%, 05/01/47		2,070,451		2,045,417
3.500%, 06/01/47		1,256,586		1,239,597
3.500%, 07/01/47		904,258		893,098
3.500%, 09/01/47		875,387		864,624
3.500%, 10/01/47		275,643		272,526
3.500%, 11/01/47		1,489,054		1,474,195
3.500%, 12/01/47		10,198,102		10,077,636
3.500%, 01/01/48		6,595,556		6,515,377
3.500%, TBA (a)		27,606,000		27,166,319
4.000%, 08/01/33		1,149,996		1,161,773
4.000%, 06/01/39		891,132		906,541
4.000%, 12/01/39		81,411		82,815
4.000%, 07/01/40		1,066,514		1,084,908
4.000%, 08/01/40		1,943,902		1,977,691
4.000%, 10/01/40		5,269,961		5,364,287
4.000%, 11/01/40		353,431		359,575
4.000%, 12/01/40		1,793,480		1,824,637
4.000%, 04/01/41		170,090		173,039
4.000%, 09/01/41		4,430,757		4,507,804
4.000%, 10/01/41		300,289		305,511
4.000%, 12/01/41		1,202,444		1,228,337
4.000%, 01/01/42		1,182,667		1,203,229
4.000%, 02/01/42		2,950,797		3,002,096
4.000%, 05/01/42		1,154,036		1,176,671
4.000%, 06/01/42		623,878		634,650
4.000%, 07/01/42		4,356,844		4,448,713
4.000%, 08/01/42		324,434		330,075
4.000%, 09/01/42		814,612		828,759
4.000%, 12/01/42		2,349,061		2,395,800
4.000%, 01/01/43		983,106		1,000,186
4.000%, 03/01/43		203,924		207,576
4.000%, 10/01/43		744,767		757,705
4.000%, 11/01/43		3,542,970		3,619,157
4.000%, 01/01/44		2,587,766		2,643,295
4.000%, 02/01/44		2,496,765		2,550,478
4.000%, 05/01/44		3,727,090		3,807,329
4.000%, 07/01/44		235,797		239,167
4.000%, 08/01/44		824,572		842,325

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.000%, 12/01/44		2,318,213	$	2,364,395
4.000%, 01/01/45		387,949		395,820
4.000%, 02/01/45		1,154,033		1,176,463
4.000%, 03/01/45		990,775		1,006,922
4.000%, 04/01/45		950,055		969,360
4.000%, 05/01/45		934,276		952,429
4.000%, 10/01/45		6,060,661		6,174,751
4.000%, 11/01/45		2,277,820		2,322,922
4.000%, 12/01/45		4,726,520		4,812,315
4.000%, 01/01/46		5,047,789		5,113,503
4.000%, 02/01/46		1,643,418		1,672,514
4.000%, 03/01/46		8,254,989		8,398,290
4.000%, 04/01/46		10,986,043		11,181,922
4.000%, 06/01/46		23,381,978		23,773,092
4.000%, 08/01/46		3,255,585		3,311,854
4.000%, 09/01/46		17,636,898		17,941,712
4.000%, 10/01/46		2,961,541		3,012,573
4.000%, 11/01/46		285,883		291,056
4.000%, 12/01/46		1,359,275		1,382,698
4.000%, 01/01/47		1,576,142		1,603,949
4.000%, 03/01/47		7,191,233		7,294,617
4.000%, 08/01/47		1,030,849		1,045,380
4.000%, 03/01/48		2,669,702		2,719,632
4.000%, 04/01/48		1,667,391		1,698,592
4.000%, 08/01/48		10,409,613		10,559,923
4.500%, 08/01/39		1,277,543		1,329,840
4.500%, 11/01/39		378,812		394,757
4.500%, 01/01/40		40,817		42,515
4.500%, 04/01/40		93,915		97,792
4.500%, 05/01/40		242,652		252,646
4.500%, 06/01/40		223,483		232,650
4.500%, 07/01/40		453,813		472,428
4.500%, 08/01/40		3,081,127		3,206,578
4.500%, 11/01/40		876,213		911,886
4.500%, 07/01/41		255,275		265,536
4.500%, 08/01/41		35,334		36,465
4.500%, 09/01/41		968,848		1,007,099
4.500%, 10/01/41		187,110		194,711
4.500%, 01/01/42		180,845		188,202
4.500%, 06/01/42		83,209		85,877
4.500%, 08/01/42		1,047,296		1,087,286
4.500%, 09/01/42		2,793,960		2,908,758
4.500%, 09/01/43		1,074,540		1,114,893
4.500%, 10/01/43		1,440,905		1,494,931
4.500%, 12/01/43		1,649,882		1,711,990
4.500%, 01/01/44		1,742,639		1,807,940
4.500%, 09/01/45		777,787		813,655
4.500%, 11/01/45		495,615		517,636
4.500%, 12/01/45		1,273,315		1,323,507
4.500%, 09/01/46		672,500		704,284
4.500%, 09/01/47		83,605		86,434
4.500%, 10/01/47		215,050		222,888
4.500%, 11/01/47		54,288		56,208
4.500%, 12/01/47		67,310		69,692
4.500%, 02/01/48		122,902		127,061

BHFTII-7

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.500%, 03/01/48		228,987	$	236,931
4.500%, 04/01/48		1,425,231		1,492,614
4.500%, 05/01/48		19,200,788		20,021,190
4.500%, 07/01/48		277,230		288,422
4.500%, 08/01/48		21,100,330		21,785,540
5.000%, 11/01/32		3,670		3,860
5.000%, 09/01/35		213,670		226,856
5.000%, 06/01/39 (b)		9,191,730		9,757,874
5.000%, 04/01/41		36,127		38,443
5.000%, 07/01/41		437,643		465,698
5.000%, 08/01/41		379,942		404,296
5.000%, 01/01/42		51,453		54,036
5.500%, 11/01/32		1,030,012		1,110,522
5.500%, 12/01/32		177,902		191,886
5.500%, 01/01/33		667,083		718,826
5.500%, 12/01/33		237,135		255,843
5.500%, 05/01/34		1,865,107		2,015,757
5.500%, 08/01/37		1,931,401		2,087,477
5.500%, 02/01/38		321,866		349,715
5.500%, 03/01/38		202,690		219,733
5.500%, 04/01/38		112,113		119,695
5.500%, 06/01/38		350,199		378,104
5.500%, 12/01/38		117,719		125,681
5.500%, 01/01/39		312,221		336,236
5.500%, 08/01/39		243,849		262,388
5.500%, 12/01/39		456,275		489,940
5.500%, 04/01/40		70,192		75,436
5.500%, 04/01/41		281,499		302,978
5.500%, TBA (a)		3,696,000		3,946,635
6.000%, 02/01/34		217,784		239,889
6.000%, 08/01/34		161,340		177,697
6.000%, 04/01/35		2,583,116		2,844,911
6.000%, 06/01/36		299,112		330,585
6.000%, 02/01/38		523,164		575,604
6.000%, 03/01/38		167,989		184,882
6.000%, 05/01/38		521,293		573,717
6.000%, 10/01/38		645,366		711,432
6.000%, 12/01/38		197,978		218,259
6.000%, 04/01/40		2,093,895		2,308,108
6.000%, 09/01/40		210,084		230,385
6.000%, 06/01/41		473,160		520,351
6.500%, 05/01/40		3,068,357		3,385,176
Fannie Mae Connecticut Avenue Securities (CMO) 4.416%, 1M LIBOR + 2.200%, 01/25/30 (c)		795,826		820,148
5.216%, 1M LIBOR + 3.000%, 10/25/29 (c)		246,328		265,253
5.766%, 1M LIBOR + 3.550%, 07/25/29 (c)		1,289,928		1,408,217
5.816%, 1M LIBOR + 3.600%, 01/25/30 (c)		1,350,000		1,427,590
6.216%, 1M LIBOR + 4.000%, 05/25/30 (c)		1,140,000		1,220,125
6.466%, 1M LIBOR + 4.250%, 04/25/29 (c)		1,620,000		1,850,679
7.966%, 1M LIBOR + 5.750%, 07/25/29 (c)		683,032		827,708
Fannie Mae Pool 4.000%, 01/01/41		439,302		444,894
Fannie Mae REMICS (CMO) 5.000%, 04/25/35		53,221		54,807

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae-ACES (CMO) 2.690%, 01/25/39 (c) (d)		2,928,142	$	290,364
3.086%, 12/25/27 (c)		507,000		483,508
Freddie Mac 15 Yr. Gold Pool 2.500%, 04/01/27		132,844		129,098
2.500%, 10/01/28		445,433		432,855
2.500%, 08/01/29		1,041,993		1,007,690
2.500%, 12/01/29		295,703		286,823
2.500%, 05/01/30		1,112,491		1,077,188
2.500%, 07/01/30		755,227		731,455
2.500%, 08/01/30		2,552,641		2,469,796
2.500%, 09/01/30		2,816,880		2,724,033
2.500%, 04/01/31		1,979,099		1,912,224
2.500%, TBA (a)		9,133,000		8,807,236
3.000%, 01/01/30		852,834		844,746
3.000%, 04/01/30		4,239,900		4,196,759
3.000%, 05/01/30		679,386		672,935
3.000%, 06/01/30		29,773		29,456
3.000%, 07/01/30		1,583,496		1,565,900
3.000%, 08/01/30		502,444		496,390
3.000%, TBA (a)		11,359,000		11,191,803
3.500%, TBA (a)		6,274,000		6,306,531
4.000%, TBA (a)		2,651,000		2,704,952
Freddie Mac 30 Yr. Gold Pool 3.000%, 12/01/42		2,666,080		2,574,653
3.000%, 01/01/43		1,790,035		1,728,411
3.000%, 03/01/43		3,847,245		3,713,899
3.000%, 07/01/43 (b)		11,112,268		10,723,046
3.000%, 12/01/46		3,088,233		2,963,663
3.000%, TBA (a)		41,863,779		40,047,774
3.500%, 04/01/42		2,282,065		2,263,094
3.500%, 05/01/42		112,697		111,635
3.500%, 08/01/42		2,805,216		2,783,213
3.500%, 10/01/42		150,086		148,182
3.500%, 11/01/42		1,081,303		1,072,297
3.500%, 01/01/43		1,290,701		1,279,955
3.500%, 06/01/43		322,943		320,253
3.500%, 12/01/43		5,116,866		5,074,311
3.500%, 01/01/44 (b)		23,292,835		23,099,245
3.500%, 04/01/44		2,309,790		2,290,440
3.500%, 05/01/44		587,806		583,082
3.500%, 06/01/44		402,386		399,037
3.500%, 07/01/44		112,465		111,668
3.500%, 08/01/44		426,053		422,506
3.500%, 09/01/44		909,614		901,518
3.500%, 11/01/44		24,133		23,895
3.500%, 01/01/45		171,771		169,740
3.500%, 05/01/45		260,143		256,812
3.500%, 06/01/45		219,800		217,016
3.500%, 07/01/45		6,120		6,042
3.500%, 08/01/45		6,708,887		6,645,743
3.500%, 09/01/45		191,091		189,600
3.500%, 10/01/45		24,311		24,003
3.500%, 01/01/46		1,116,305		1,102,167
3.500%, 02/01/46		77,047		76,028
3.500%, 03/01/46		811,932		801,196

BHFTII-8

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
3.500%, 05/01/46		895,893	$	884,047
3.500%, 07/01/46		8,234,618		8,157,108
3.500%, 03/01/47		2,322,842		2,296,293
3.500%, 07/01/47		348,798		345,515
3.500%, 10/01/47		1,409,227		1,395,303
3.500%, 12/01/47		1,721,194		1,704,188
3.500%, 01/01/48		575,582		568,844
3.500%, TBA (a)		14,280,164		14,050,900
4.000%, 08/01/40		309,755		315,506
4.000%, 09/01/40		333,456		339,543
4.000%, 10/01/40		138,878		141,461
4.000%, 11/01/40		634,887		646,675
4.000%, 04/01/41		16,886		17,200
4.000%, 10/01/41		583,414		594,273
4.000%, 09/01/43		452,708		461,203
4.000%, 04/01/44		1,000,862		1,018,616
4.000%, 07/01/44		356,166		362,290
4.000%, 08/01/44		3,322,044		3,384,231
4.000%, 02/01/45		297,607		301,792
4.000%, 09/01/45		1,316,460		1,334,958
4.000%, 10/01/45		1,819,924		1,846,624
4.000%, 12/01/45 (b)		12,866,027		13,016,089
4.000%, 01/01/47		6,025,667		6,120,053
4.000%, 08/01/47		2,359,805		2,400,807
4.000%, TBA (a)		24,654,000		24,893,595
4.500%, 02/01/39		1,201,798		1,243,336
4.500%, 08/01/39		1,073,964		1,120,332
4.500%, 12/01/39		259,225		270,373
4.500%, 07/01/40		84,031		87,677
4.500%, 05/01/41		1,632,672		1,703,568
4.500%, 05/01/42		1,539,387		1,605,828
4.500%, 10/01/43		802,717		830,100
4.500%, 12/01/43		1,954,431		2,028,986
4.500%, 08/01/48		10,358,599		10,806,765
4.500%, TBA (a)		843,000		870,101
5.000%, 10/01/41		659,788		700,808
5.000%, 11/01/41 (b)		5,630,186		5,979,961
5.500%, 02/01/35		156,937		169,790
5.500%, 09/01/39		183,827		197,608
5.500%, 01/01/40		99,673		106,247
5.500%, 07/01/40		31,866		33,961
5.500%, 06/01/41		2,289,402		2,468,748
Freddie Mac Gold Pool 3.000%, 09/01/27		614,169		606,080
3.000%, 07/01/28		335,665		331,246
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 0.985%, 06/25/27 (c) (d)		2,631,372		143,737
2.570%, 07/25/26		2,606,000		2,452,881
2.653%, 08/25/26		400,000		377,824
2.745%, 01/25/26		330,000		316,101
2.770%, 05/25/25		1,110,000		1,070,101
3.120%, 09/25/26 (c)		1,080,000		1,053,690
3.224%, 03/25/27		5,531,000		5,414,459
3.347%, 11/25/26 (c)		490,000		484,859

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
3.430%, 01/25/27 (c)		1,340,000	$	1,331,713
3.444%, 12/25/27		210,000		207,561
3.531%, 07/25/23 (c)		500,000		506,287
3.590%, 01/25/25		291,000		294,718
3.926%, 07/25/28 (c)		1,116,000		1,142,195
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 3.820%, 05/25/48 (144A) (c)		560,000		520,803
4.016%, 1M LIBOR + 1.800%, 07/25/30 (c)		870,000		864,494
4.366%, 1M LIBOR + 2.150%, 12/25/30 (144A) (c)		950,000		958,591
4.716%, 1M LIBOR + 2.500%, 03/25/30 (c)		2,600,000		2,720,608
5.366%, 1M LIBOR + 3.150%, 07/25/30 (c)		1,340,000		1,310,666
5.466%, 1M LIBOR + 3.250%, 07/25/29 (c)		1,320,000		1,444,684
5.666%, 1M LIBOR + 3.450%, 10/25/29 (c)		1,516,843		1,671,823
6.016%, 1M LIBOR + 3.800%, 03/25/29 (c)		1,310,000		1,474,861
6.666%, 1M LIBOR + 4.450%, 03/25/30 (c)		1,290,000		1,450,593
7.366%, 1M LIBOR + 5.150%, 10/25/29 (c)		880,000		1,032,294
FREMF Mortgage Trust (CMO) 3.985%, 02/25/51 (144A) (c)		600,000		569,753
4.117%, 05/25/50 (144A) (c)		275,556		267,846
4.189%, 04/25/48 (144A) (c)		360,000		354,959
4.194%, 05/25/25 (144A) (c)		530,000		514,512
4.229%, 08/25/50 (144A) (c)		440,000		427,563
FRESB Mortgage Trust (CMO) 3.480%, 06/25/28 (c)		719,476		708,703
3.660%, 06/25/28 (c)		424,000		422,380
Ginnie Mae I 30 Yr. Pool 3.000%, 02/15/45		1,392,810		1,354,838
3.500%, 01/15/42		428,057		427,562
3.500%, 02/15/42		168,167		168,035
3.500%, 04/15/42		308,044		307,374
3.500%, 05/15/42		345,616		345,644
3.500%, 08/15/42		493,972		493,971
3.500%, 11/15/42		317,396		316,442
3.500%, 12/15/42		1,102,260		1,101,531
3.500%, 01/15/43		493,039		491,254
3.500%, 02/15/43		757,117		755,974
3.500%, 03/15/43		382,065		380,745
3.500%, 04/15/43		2,194,668		2,192,293
3.500%, 05/15/43		2,577,616		2,574,221
3.500%, 06/15/43		672,598		672,649
3.500%, 07/15/43		2,346,182		2,346,365
4.000%, 03/15/41		864,410		884,631
4.000%, 12/15/41		25,483		25,923
4.500%, 02/15/42 (b)		10,387,194		10,835,746
4.500%, 03/15/47		145,542		152,592
4.500%, 04/15/47		378,915		398,290
4.500%, 05/15/47		134,224		141,124
5.000%, 12/15/38		296,707		315,175
5.000%, 07/15/39		708,582		744,204
5.000%, 10/15/39		373,632		396,948
5.000%, 09/15/40		26,609		28,254
5.000%, 12/15/40		955,443		1,014,653
5.500%, 04/15/33		26,440		28,701
6.500%, 04/15/33		46,361		50,865
8.500%, 05/15/22		463		465

BHFTII-9

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae II 30 Yr. Pool 3.000%, 12/20/44		170,977	$	166,763
3.000%, 04/20/45		3,321,448		3,230,302
3.000%, 06/20/45		8,661,079		8,421,614
3.000%, 07/20/45		89,688		87,199
3.000%, 08/20/45		89,511		87,128
3.000%, 10/20/45		1,071,196		1,041,246
3.000%, 12/20/45		94,045		91,387
3.000%, 04/20/46		19,126,114		18,573,602
3.000%, 05/20/46		135,385		131,620
3.000%, 06/20/46		3,096,971		3,005,597
3.000%, 07/20/46		6,375,186		6,187,072
3.000%, 08/20/46		1,200,741		1,165,311
3.000%, 09/20/46		11,680,987		11,341,676
3.000%, 10/20/46		463,761		449,933
3.000%, 11/20/46		300,771		291,757
3.000%, 12/20/46		1,142,067		1,107,661
3.000%, 01/20/47		593,170		575,271
3.000%, 03/20/47		1,355,512		1,315,375
3.000%, 04/20/47		825,316		800,332
3.000%, 06/20/47		84,900		82,325
3.000%, 07/20/47		578,811		561,163
3.000%, TBA (a)		16,507,500		15,987,449
3.500%, 04/20/43		2,192,707		2,192,850
3.500%, 05/20/43		1,174,646		1,174,722
3.500%, 07/20/43		91,833		91,839
3.500%, 02/20/44		2,733,649		2,733,828
3.500%, 05/20/45		771,666		769,338
3.500%, 04/20/46		37,018,727		36,884,216
3.500%, 05/20/46		1,676,418		1,670,068
3.500%, 06/20/46		19,104,936		19,026,681
3.500%, 07/20/46		3,248,530		3,234,723
3.500%, 09/20/46		620,317		617,585
3.500%, 10/20/46		2,490,071		2,480,436
3.500%, 11/20/46		14,941,137		14,870,723
3.500%, TBA (a)		21,080,496		20,961,507
4.000%, 04/20/39		49,153		50,439
4.000%, 07/20/39		363,111		372,565
4.000%, 09/20/40		99,306		101,905
4.000%, 10/20/40		1,108,276		1,137,286
4.000%, 11/20/40		618,560		634,736
4.000%, 12/20/40		2,322,545		2,383,361
4.000%, 01/20/41		2,035,905		2,089,234
4.000%, 02/20/41		36,171		37,118
4.000%, 07/20/43		192,593		197,565
4.000%, 08/20/44		782,622		802,093
4.000%, 10/20/46		192,274		196,250
4.000%, TBA (a)		83,229,500		84,526,819
4.500%, 12/20/39		82,744		86,751
4.500%, 01/20/40		103,002		107,983
4.500%, 02/20/40		80,831		84,737
4.500%, 05/20/40		5,526		5,793
4.500%, 09/20/48		920,656		959,298
4.500%, TBA (a)		18,087,500		18,695,128
5.000%, 10/20/33		864,559		929,599
5.000%, 10/20/39		291,273		311,057

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
5.000%, 07/20/42		382,317	$	405,398
5.000%, TBA (a)		6,065,000		6,331,291
Government National Mortgage Association (CMO) 0.582%, 06/16/53 (c) (d)		1,319,974		32,328
0.675%, 02/16/50 (c) (d)		1,859,938		83,226
0.727%, 03/16/55 (c) (d)		3,487,298		183,011
0.750%, 11/16/53 (c) (d)		1,070,836		37,826
0.773%, 05/16/59 (c) (d)		2,162,345		141,165
0.790%, 09/16/51 (c) (d)		21,117,301		1,102,473
0.808%, 05/16/59 (c) (d)		3,078,437		203,963
0.825%, 08/16/41 (d)		3,138,863		46,041
0.891%, 09/16/55 (c) (d)		2,181,662		142,497
0.892%, 11/16/55 (c) (d)		3,407,155		209,711
0.908%, 06/16/58 (c) (d)		2,713,683		199,937
0.926%, 08/15/58 (c) (d)		6,873,417		516,539
0.952%, 09/16/56 (c) (d)		1,366,688		107,158
0.965%, 02/16/58 (c) (d)		5,323,593		366,273
0.997%, 09/16/58 (c) (d)		2,006,739		160,857
1.000%, 02/16/39 (d)		2,642,543		28,025
1.003%, 08/16/58 (c) (d)		3,811,389		290,122
1.033%, 05/16/58 (c) (d)		2,597,574		204,155
1.062%, 12/16/57 (c) (d)		3,752,268		292,367
1.125%, 04/16/58 (c) (d)		4,896,652		399,643
2.000%, 03/16/35		201,806		175,326
2.250%, 12/16/38		317,640		289,924
				1,259,121,937
U.S. Treasury—9.4%
U.S. Treasury Bonds 2.875%, 05/15/43		8,084,000		7,640,643
2.875%, 11/15/46		2,181,000		2,050,310
3.000%, 02/15/47		1,447,000		1,393,698
3.000%, 08/15/48 (e)		15,110,000		14,533,341
3.125%, 02/15/43 (e)		7,953,000		7,854,830
3.625%, 08/15/43		7,590,000		8,140,571
3.750%, 11/15/43 (e)		8,055,000		8,817,079
4.250%, 05/15/39		2,095,000		2,442,394
4.375%, 11/15/39		2,042,000		2,422,323
4.500%, 08/15/39		2,035,000		2,451,062
U.S. Treasury Notes 1.000%, 10/15/19		20,393,000		20,046,478
1.125%, 06/30/21		14,275,000		13,620,357
1.250%, 08/31/19		20,393,000		20,139,681
1.625%, 06/30/20		12,746,000		12,491,080
1.625%, 07/31/20		12,746,000		12,477,139
1.625%, 10/31/23		11,216,000		10,516,314
1.875%, 04/30/22		14,275,000		13,774,260
2.000%, 04/30/24		12,236,000		11,626,112
2.000%, 05/31/24		12,236,000		11,616,552
2.000%, 08/15/25		5,098,000		4,777,981
2.000%, 11/15/26		8,440,000		7,810,627
2.125%, 09/30/21		14,275,000		13,964,407
2.250%, 07/31/21		14,275,000		14,030,764
2.250%, 01/31/24		11,216,000		10,821,688

BHFTII-10

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes
2.250%, 11/15/25		5,098,000	$	4,846,286
2.250%, 02/15/27 (e)		8,263,000		7,779,163
2.625%, 08/31/20		27,790,000		27,691,215
2.625%, 05/15/21		23,914,000		23,766,406
2.750%, 08/31/23		27,100,000		26,864,992
2.750%, 08/31/25		11,460,000		11,272,432
2.875%, 08/15/28		9,650,000		9,503,742
				347,183,927
Total U.S. Treasury & Government Agencies (Cost $1,639,825,971)				1,606,305,864
Corporate Bonds & Notes—29.4%
Advertising—0.0%
ACE03 MH1 B2 Zero Coupon, 08/15/30		676,840		517,695
Interpublic Group of Cos., Inc. (The) 3.500%, 10/01/20		495,000		495,024
3.750%, 10/01/21		265,000		265,515
				1,278,234
Aerospace/Defense—1.0%
BAE Systems Holdings, Inc. 2.850%, 12/15/20 (144A)		699,000		689,652
4.750%, 10/07/44 (144A)		132,000		133,960
General Dynamics Corp. 3.750%, 05/15/28		2,965,000		2,974,914
Harris Corp. 2.700%, 04/27/20		706,000		698,996
4.400%, 06/15/28		2,865,000		2,873,661
5.054%, 04/27/45		1,115,000		1,171,461
L3 Technologies, Inc. 3.850%, 06/15/23		1,745,000		1,748,928
3.850%, 12/15/26		1,885,000		1,812,451
4.400%, 06/15/28		340,000		338,819
Lockheed Martin Corp. 2.900%, 03/01/25		670,000		640,275
3.550%, 01/15/26		815,000		804,283
3.600%, 03/01/35		2,306,000		2,153,985
3.800%, 03/01/45		675,000		630,636
4.070%, 12/15/42		1,160,000		1,125,945
4.090%, 09/15/52		594,000		564,384
4.700%, 05/15/46		2,005,000		2,134,067
Northrop Grumman Corp. 2.550%, 10/15/22		1,850,000		1,782,230
2.930%, 01/15/25		3,065,000		2,909,479
3.250%, 01/15/28		3,106,000		2,920,672
3.850%, 04/15/45		690,000		625,966
4.030%, 10/15/47		1,180,000		1,104,409
Raytheon Co. 7.200%, 08/15/27		530,000		661,364
United Technologies Corp. 4.050%, 05/04/47 (b)		2,095,000		1,911,534
4.125%, 11/16/28		4,730,000		4,698,176

Security Description	Principal Amount*		Value
Aerospace/Defense—(Continued)
United Technologies Corp.
4.150%, 05/15/45		696,000	$	646,219
4.625%, 11/16/48 (b)		830,000		830,053
				38,586,519
Agriculture—0.2%
BAT Capital Corp. 3.222%, 08/15/24 (144A)		1,580,000		1,505,546
4.540%, 08/15/47 (144A)		1,818,000		1,663,552
Reynolds American, Inc. 4.450%, 06/12/25		5,615,000		5,654,041
				8,823,139
Airlines—0.5%
American Airlines Group, Inc. 4.625%, 03/01/20 (144A)		2,214,000		2,219,535
American Airlines Pass-Through Trust 3.375%, 05/01/27		2,459,364		2,367,138
4.400%, 09/22/23		782,690		780,655
Avianca Holdings S.A. / Avianca Leasing LLC / Grupo Taca Holdings, Ltd. 8.375%, 05/10/20		481,000		481,000
Delta Air Lines, Inc. 2.600%, 12/04/20		3,005,000		2,939,210
2.875%, 03/13/20		8,220,000		8,153,011
3.400%, 04/19/21		265,000		263,341
Gol Finance, Inc. 7.000%, 01/31/25 (144A) (b)		1,274,000		1,028,755
Turkish Airlines Pass-Through Trust 4.200%, 03/15/27 (144A)		1,058,805		958,218
United Airlines Pass-Through Trust 4.600%, 03/01/26		595,000		593,843
4.750%, 04/11/22		303,683		304,442
				20,089,148
Auto Manufacturers—1.6%
Daimler Finance North America LLC 2.300%, 02/12/21 (144A)		1,015,000		988,477
3.100%, 05/04/20 (144A)		3,130,000		3,120,461
3.350%, 05/04/21 (144A)		3,770,000		3,754,507
Ford Motor Credit Co. LLC 2.979%, 08/03/22		2,125,000		2,015,333
3.096%, 05/04/23		1,930,000		1,809,942
3.157%, 08/04/20		500,000		495,132
3.200%, 01/15/21		1,310,000		1,290,508
3.219%, 01/09/22		9,970,000		9,642,377
3.336%, 03/18/21		205,000		202,089
5.750%, 02/01/21 (b)		2,714,000		2,821,424
5.875%, 08/02/21		670,000		700,683
General Motors Co. 5.400%, 04/01/48 (b)		300,000		279,617
6.250%, 10/02/43		250,000		256,040
6.750%, 04/01/46		370,000		399,976

BHFTII-11

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—(Continued)
General Motors Financial Co., Inc. 3.100%, 01/15/19		814,000	$	814,639
3.150%, 06/30/22		4,710,000		4,581,879
3.200%, 07/06/21		6,650,000		6,569,880
3.700%, 11/24/20		4,830,000		4,853,225
4.000%, 01/15/25		2,576,000		2,493,851
4.000%, 10/06/26		390,000		366,403
4.200%, 03/01/21		815,000		825,079
Hyundai Capital America 2.550%, 04/03/20 (144A)		8,645,000		8,499,683
Hyundai Capital Services, Inc. 3.000%, 08/29/22 (144A)		1,220,000		1,173,973
Toyota Motor Corp. 3.669%, 07/20/28		535,000		530,121
Volkswagen Group of America Finance LLC 2.400%, 05/22/20 (144A)		2,000,000		1,965,863
				60,451,162
Auto Parts & Equipment—0.1%
Aptiv plc 4.250%, 01/15/26		1,514,000		1,503,924
4.400%, 10/01/46		1,052,000		942,893
ZF North America Capital, Inc. 4.750%, 04/29/25 (144A)		3,203,000		3,201,667
				5,648,484
Banks—9.1%
ABN AMRO Bank NV 2.650%, 01/19/21 (144A)		2,590,000		2,542,142
Banco Espirito Santo S.A. 4.000%, 01/21/19 (EUR) (f)		200,000		68,502
Banco Santander S.A. 3.848%, 04/12/23		2,000,000		1,953,719
Bank of America Corp. 2.328%, 3M LIBOR + 0.630%, 10/01/21 (c)		11,882,000		11,623,686
2.369%, 3M LIBOR + 0.660%, 07/21/21 (c)		3,945,000		3,875,706
2.625%, 10/19/20		1,475,000		1,457,121
3.300%, 01/11/23		640,000		630,381
3.366%, 3M LIBOR + 0.810%, 01/23/26 (c)		1,180,000		1,134,313
3.419%, 3M LIBOR + 1.040%, 12/20/28 (c)		1,370,000		1,285,032
3.499%, 3M LIBOR + 0.630%, 05/17/22 (c)		2,350,000		2,348,547
3.500%, 04/19/26		510,000		492,804
3.875%, 08/01/25		3,970,000		3,944,326
3.950%, 04/21/25		2,075,000		2,030,770
4.183%, 11/25/27		955,000		931,525
4.200%, 08/26/24		3,245,000		3,259,538
Bank of New York Mellon Corp. (The) 3.442%, 3M LIBOR + 1.069%, 02/07/28 (c)		700,000		677,076
4.625%, 3M LIBOR + 3.131%, 09/20/26 (c)		2,405,000		2,305,794
Barclays plc 4.338%, 3M LIBOR + 1.356%, 05/16/24 (c)		1,045,000		1,032,087
4.375%, 09/11/24		1,600,000		1,543,332
4.950%, 01/10/47		2,031,000		1,883,927
4.972%, 3M LIBOR + 1.902%, 05/16/29 (c)		3,060,000		3,019,645

Security Description	Principal Amount*		Value
Banks—(Continued)
BNP Paribas S.A. 2.950%, 05/23/22 (144A)		4,050,000	$	3,919,870
3.800%, 01/10/24 (144A)		2,148,000		2,100,482
7.000%, 5Y USD Swap + 3.980%, 08/16/28 (144A) (c)		765,000		770,164
BPCE S.A. 3.000%, 05/22/22 (144A)		3,500,000		3,383,201
Capital One Financial Corp. 2.400%, 10/30/20		2,166,000		2,120,572
3.450%, 04/30/21		1,510,000		1,508,281
3.750%, 03/09/27		680,000		641,513
Citigroup, Inc. 2.500%, 07/29/19		3,634,000		3,626,073
2.876%, 3M LIBOR + 0.950%, 07/24/23 (c)		1,535,000		1,484,668
2.900%, 12/08/21		5,235,000		5,124,683
3.887%, 3M LIBOR + 1.563%, 01/10/28 (c)		760,000		737,332
4.400%, 06/10/25		1,530,000		1,526,639
4.450%, 09/29/27		500,000		493,936
Citizens Bank N.A. 2.250%, 03/02/20		6,026,000		5,944,931
2.300%, 12/03/18		1,395,000		1,394,376
2.650%, 05/26/22		4,875,000		4,686,845
Credit Suisse Group AG 4.207%, 3M LIBOR + 1.240%, 06/12/24 (144A) (c)		2,265,000		2,256,669
7.250%, 5Y USD Swap + 4.332%, 09/12/25 (144A) (c)		2,035,000		2,042,631
Credit Suisse Group Funding Guernsey, Ltd. 2.750%, 03/26/20		4,269,000		4,231,006
Deutsche Bank AG 2.700%, 07/13/20		3,815,000		3,736,906
2.950%, 08/20/20 (b)		1,549,000		1,522,111
4.250%, 10/14/21		1,040,000		1,035,217
4.875%, 5Y USD ICE Swap + 2.553%, 12/01/32 (c)		600,000		533,130
Discover Bank 4.650%, 09/13/28		440,000		440,818
Fifth Third Bank 2.250%, 06/14/21		3,062,000		2,971,761
Gilex Holding S.a.r.l. 8.500%, 05/02/23 (144A)		694,000		719,157
Goldman Sachs Group, Inc. (The) 1.000%, 10/12/18 (144A) (g) (h)		7,000,000		7,000,000
2.000%, 04/25/19		950,000		946,420
2.350%, 11/15/21		4,120,000		3,966,304
2.664%, 11/13/18 (144A) (g) (h)		11,000,000		11,000,000
2.750%, 09/15/20 (b)		1,326,000		1,311,671
2.754%, 02/08/19 (144A) (g) (h)		22,000,000		22,000,000
3.484%, 3M LIBOR + 1.170%, 05/15/26 (c)		1,310,000		1,310,799
4.017%, 3M LIBOR + 1.373%, 10/31/38 (c)		1,370,000		1,268,354
4.223%, 3M LIBOR + 1.301%, 05/01/29 (c)		2,935,000		2,890,765
HSBC Holdings plc 2.650%, 01/05/22		3,200,000		3,104,954
3.950%, 3M LIBOR + 0.987%, 05/18/24 (c)		1,525,000		1,514,653
5.100%, 04/05/21		1,600,000		1,662,234
6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (c)		3,575,000		3,429,319
HSBC USA, Inc. 2.350%, 03/05/20 (b)		4,175,000		4,129,121
Huntington National Bank (The) 3.250%, 05/14/21		2,635,000		2,619,796

BHFTII-12

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
ING Bank NV 5.800%, 09/25/23 (144A)		1,460,000	$	1,539,060
ING Groep NV 4.100%, 10/02/23		3,815,000		3,811,850
Intesa Sanpaolo S.p.A. 5.017%, 06/26/24 (144A)		4,675,000		4,217,595
6.500%, 02/24/21 (144A)		800,000		827,997
Itau Unibanco Holding S.A. 6.500%, 5Y CMT + 3.863%, 03/19/23 (144A) (c)		200,000		187,560
JPMorgan Chase & Co. 2.972%, 01/15/23		4,504,000		4,385,835
3.514%, 3M LIBOR + 0.610%, 06/18/22 (c)		2,730,000		2,732,642
3.540%, 3M LIBOR + 1.380%, 05/01/28 (c)		2,200,000		2,097,827
3.559%, 3M LIBOR + 0.730%, 04/23/24 (c)		725,000		717,286
3.782%, 3M LIBOR + 1.337%, 02/01/28 (c)		2,630,000		2,560,103
3.797%, 3M LIBOR + 0.890%, 07/23/24 (c)		2,655,000		2,652,911
3.882%, 3M LIBOR + 1.360%, 07/24/38 (c)		3,100,000		2,895,294
3.900%, 07/15/25		1,343,000		1,341,934
4.203%, 3M LIBOR + 1.260%, 07/23/29 (c)		2,210,000		2,199,157
4.625%, 05/10/21		1,708,000		1,762,648
KeyBank N.A. 3.350%, 06/15/21		440,000		439,387
Lloyds Banking Group plc 3.750%, 01/11/27		1,715,000		1,611,158
4.450%, 05/08/25		1,820,000		1,821,461
4.650%, 03/24/26		4,530,000		4,449,122
Mitsubishi UFJ Financial Group, Inc. 2.998%, 02/22/22		256,000		250,477
3.455%, 03/02/23		8,320,000		8,210,589
3.535%, 07/26/21 (b)		265,000		265,402
Mizuho Financial Group, Inc. 2.273%, 09/13/21		942,000		906,698
2.601%, 09/11/22		425,000		405,756
2.953%, 02/28/22		11,295,000		11,001,275
3.922%, 3M LIBOR + 1.000%, 09/11/24 (c)		690,000		685,583
Morgan Stanley 2.750%, 05/19/22		4,900,000		4,752,704
3.591%, 3M LIBOR + 1.340%, 07/22/28 (c)		5,530,000		5,243,907
3.625%, 01/20/27		1,840,000		1,765,799
3.700%, 10/23/24		290,000		285,443
3.772%, 3M LIBOR + 1.140%, 01/24/29 (c)		1,080,000		1,036,089
6.250%, 08/09/26		1,371,000		1,540,381
Nordea Bank AB 2.125%, 05/29/20 (144A)		2,810,000		2,758,857
3.750%, 08/30/23 (144A)		1,830,000		1,813,269
Northern Trust Corp. 3.375%, 3M LIBOR + 1.131%, 05/08/32 (c)		1,630,000		1,518,667
Royal Bank of Scotland Group plc 3.498%, 3M LIBOR + 1.480%, 05/15/23 (c)		1,370,000		1,327,269
4.892%, 3M LIBOR + 1.754%, 05/18/29 (c)		310,000		307,875
5.076%, 3M LIBOR + 1.905%, 01/27/30 (c)		3,015,000		3,019,531
Santander UK Group Holdings plc 2.875%, 08/05/21		4,355,000		4,238,221
Santander UK plc 5.000%, 11/07/23 (144A)		3,760,000		3,790,403

Security Description	Principal Amount*		Value
Banks—(Continued)
Standard Chartered plc 4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (c)		5,065,000	$	5,059,844
State Street Corp. 2.650%, 05/19/26 (b)		1,246,000		1,153,584
5.625%, 3M LIBOR + 2.539%, 12/15/23 (c)		2,815,000		2,829,075
Sumitomo Mitsui Trust Bank, Ltd. 1.950%, 09/19/19 (144A)		5,465,000		5,409,081
2.050%, 03/06/19 (144A)		15,092,000		15,049,939
SunTrust Banks, Inc. 4.000%, 05/01/25		610,000		611,086
Synchrony Bank 3.650%, 05/24/21		3,380,000		3,349,653
Toronto-Dominion Bank (The) 3.500%, 07/19/23		1,020,000		1,017,917
U.S. Bancorp 2.950%, 07/15/22		1,825,000		1,786,665
U.S. Bank N.A. 3.104%, 3M LIBOR + 0.290%, 05/21/21 (c)		1,050,000		1,047,241
UBS Group Funding Switzerland AG 2.859%, 3M LIBOR + 0.954%, 08/15/23 (144A) (c)		3,575,000		3,429,605
2.950%, 09/24/20 (144A)		4,195,000		4,154,981
4.125%, 09/24/25 (144A)		5,280,000		5,244,550
UniCredit S.p.A. 5.861%, 5Y USD ICE Swap + 3.703%, 06/19/32 (144A) (c)		2,645,000		2,358,224
Wells Fargo & Co. 2.500%, 03/04/21 (b)		4,185,000		4,098,007
2.600%, 07/22/20		1,285,000		1,271,238
2.625%, 07/22/22		2,945,000		2,843,905
Wells Fargo Bank N.A. 3.550%, 08/14/23		2,815,000		2,801,060
				336,038,012
Beverages—0.4%
Anheuser-Busch InBev Finance, Inc. 3.300%, 02/01/23		2,335,000		2,305,203
4.700%, 02/01/36		5,815,000		5,815,857
4.900%, 02/01/46		1,650,000		1,653,532
Keurig Dr Pepper, Inc. 3.551%, 05/25/21 (144A)		840,000		838,476
4.057%, 05/25/23 (144A)		1,227,000		1,228,511
PepsiCo, Inc. 4.000%, 05/02/47		1,360,000		1,332,526
				13,174,105
Biotechnology—0.2%
Amgen, Inc. 4.400%, 05/01/45		1,323,000		1,278,673
Baxalta, Inc. 4.000%, 06/23/25 (b)		644,000		636,910
5.250%, 06/23/45		268,000		287,415
Gilead Sciences, Inc. 2.500%, 09/01/23		1,047,000		998,964
4.000%, 09/01/36		755,000		726,442
4.150%, 03/01/47		862,000		815,189

BHFTII-13

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Biotechnology—(Continued)
Gilead Sciences, Inc.
4.500%, 02/01/45		547,000	$	542,509
4.600%, 09/01/35		419,000		431,557
5.650%, 12/01/41		1,190,000		1,365,881
				7,083,540
Building Materials—0.0%
Johnson Controls International plc 5.125%, 09/14/45		500,000		518,172
LafargeHolcim Finance U.S. LLC 4.750%, 09/22/46 (144A)		1,290,000		1,173,342
				1,691,514
Chemicals—0.1%
Cydsa S.A.B. de C.V. 6.250%, 10/04/27 (144A)		840,000		800,100
Dow Chemical Co. (The) 4.375%, 11/15/42		280,000		265,237
4.625%, 10/01/44		755,000		737,608
Petkim Petrokimya Holding 5.875%, 01/26/23 (144A)		526,000		483,920
Sherwin-Williams Co. (The) 4.000%, 12/15/42		240,000		213,473
4.500%, 06/01/47		565,000		542,561
				3,042,899
Commercial Services—0.3%
Boston University 4.061%, 10/01/48		693,000		685,982
George Washington University (The) 4.126%, 09/15/48		1,328,000		1,324,559
Northwestern University 3.662%, 12/01/57		479,000		456,049
S&P Global, Inc. 4.000%, 06/15/25		300,000		300,726
Total System Services, Inc. 3.750%, 06/01/23		1,410,000		1,397,279
3.800%, 04/01/21		550,000		551,864
4.800%, 04/01/26		2,815,000		2,895,443
University of Notre Dame du Lac 3.394%, 02/15/48		800,000		735,267
University of Southern California 3.028%, 10/01/39		2,101,000		1,864,701
Wesleyan University 4.781%, 07/01/2116		1,088,000		1,066,123
				11,277,993
Computers—0.4%
Apple, Inc. 2.850%, 05/11/24		4,515,000		4,383,722
3.000%, 02/09/24		1,525,000		1,494,631
3.450%, 02/09/45		683,000		611,758
3.850%, 05/04/43		795,000		764,032
4.650%, 02/23/46		2,866,000		3,091,117

Security Description	Principal Amount*		Value
Computers—(Continued)
Dell International LLC / EMC Corp. 8.350%, 07/15/46 (144A)		326,000	$	404,772
DXC Technology Co. 2.875%, 03/27/20		1,279,000		1,268,333
Hewlett Packard Enterprise Co. 2.850%, 10/05/18		1,072,000		1,072,038
Seagate HDD Cayman 4.250%, 03/01/22		665,000		660,736
				13,751,139
Diversified Financial Services—0.8%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.500%, 05/15/21		2,605,000		2,645,246
4.625%, 10/30/20		3,530,000		3,597,176
Air Lease Corp. 2.625%, 07/01/22 (b)		1,535,000		1,468,989
American Express Co. 3.700%, 08/03/23		1,295,000		1,288,070
American Express Credit Corp. 2.250%, 08/15/19		1,959,000		1,949,799
3.300%, 05/03/27 (b)		1,010,000		970,070
CME Group, Inc. 3.750%, 06/15/28		85,000		84,957
Credivalores-Crediservicios SAS 9.750%, 07/27/22 (144A)		655,000		652,544
Discover Financial Services 4.100%, 02/09/27		1,108,000		1,058,477
Docuformas SAPI de C.V. 9.250%, 10/11/22 (144A)		320,000		287,232
GE Capital International Funding Co. 4.418%, 11/15/35		4,935,000		4,625,410
Intercontinental Exchange, Inc. 3.450%, 09/21/23 (b)		930,000		925,100
3.750%, 09/21/28 (b)		355,000		350,499
4.000%, 10/15/23		1,690,000		1,732,858
ORIX Corp. 2.900%, 07/18/22		1,555,000		1,503,588
Synchrony Financial 2.600%, 01/15/19		1,706,000		1,704,609
2.700%, 02/03/20		1,079,000		1,066,867
3.950%, 12/01/27		755,000		684,054
4.500%, 07/23/25		1,243,000		1,198,698
Tarjeta Naranja S.A. 33.688%, BADLAR + 3.500%, 04/11/22 (144A) (c)		1,016,000		342,900
Unifin Financiera S.A.B. de C.V. 8.875%, 5Y CMT + 6.308%,, 01/29/25 (144A) (c)		384,000		359,040
Visa, Inc. 3.150%, 12/14/25		590,000		571,840
4.150%, 12/14/35		876,000		903,382
4.300%, 12/14/45		645,000		668,170
				30,639,575
Electric—1.7%
AEP Texas, Inc. 3.950%, 06/01/28 (144A)		2,280,000		2,264,110

BHFTII-14

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
AEP Transmission Co. LLC 4.250%, 09/15/48		1,400,000	$	1,394,972
AES Panama SRL 6.000%, 06/25/22 (144A)		213,000		219,923
Alabama Power Co. 4.150%, 08/15/44		240,000		232,757
4.300%, 07/15/48		1,335,000		1,335,440
Alliant Energy Finance LLC 3.750%, 06/15/23 (144A)		525,000		522,558
Ameren Illinois Co. 3.800%, 05/15/28		1,090,000		1,095,579
Baltimore Gas & Electric Co. 3.500%, 08/15/46		805,000		707,490
3.750%, 08/15/47		715,000		654,813
4.250%, 09/15/48		240,000		238,326
CenterPoint Energy Houston Electric LLC 3.950%, 03/01/48		1,240,000		1,198,539
Consumers Energy Co. 4.050%, 05/15/48		390,000		383,759
DTE Electric Co. 4.050%, 05/15/48		1,745,000		1,714,748
Duke Energy Carolinas LLC 3.700%, 12/01/47		715,000		649,542
Duke Energy Corp. 3.750%, 09/01/46		2,280,000		2,000,505
4.800%, 12/15/45		1,815,000		1,867,435
Duke Energy Florida LLC 3.800%, 07/15/28		815,000		813,653
Duke Energy Progress LLC 3.250%, 08/15/25		1,145,000		1,112,382
3.700%, 09/01/28		2,905,000		2,879,785
Electricite de France S.A. 4.500%, 09/21/28 (144A)		1,370,000		1,348,794
5.000%, 09/21/48 (144A)		720,000		699,967
Emera U.S. Finance L.P. 2.150%, 06/15/19		2,058,000		2,044,706
Entergy Corp. 2.950%, 09/01/26		2,000,000		1,836,497
Entergy Louisiana LLC 4.200%, 09/01/48		1,570,000		1,557,272
Eskom Holdings SOC, Ltd. 6.350%, 08/10/28 (144A)		1,055,000		1,050,620
Exelon Corp. 2.450%, 04/15/21		549,000		533,543
4.450%, 04/15/46		2,800,000		2,710,128
4.950%, 06/15/35		501,000		524,749
Florida Power & Light Co. 4.125%, 06/01/48		1,320,000		1,320,991
Generacion Mediterranea S.A. / Generacion Frias S.A. / Central Termica Roca S.A. 9.625%, 07/27/23 (144A)		1,182,000		1,004,700
Genneia S.A. 8.750%, 01/20/22 (144A) (b)		1,216,000		1,132,096
Inkia Energy, Ltd. 5.875%, 11/09/27 (144A)		349,000		331,554

Security Description	Principal Amount*		Value
Electric—(Continued)
Kansas City Power & Light Co. 4.200%, 03/15/48		1,350,000	$	1,292,665
Mid-Atlantic Interstate Transmission LLC 4.100%, 05/15/28 (144A)		575,000		569,478
MidAmerican Energy Co. 4.400%, 10/15/44		837,000		856,233
Northern States Power Co. 3.400%, 08/15/42		1,370,000		1,219,552
4.000%, 08/15/45		780,000		763,785
4.200%, 09/01/48		630,000		617,735
Ohio Power Co. 6.600%, 02/15/33		280,000		350,634
Oncor Electric Delivery Co. LLC 4.550%, 12/01/41		970,000		1,030,452
Orazul Energy Egenor S. en C. por A. 5.625%, 04/28/27 (144A)		549,000		500,968
Pacific Gas & Electric Co. 6.050%, 03/01/34		1,620,000		1,823,512
PacifiCorp 4.125%, 01/15/49		475,000		465,661
Public Service Electric & Gas Co. 3.650%, 09/01/28		1,780,000		1,764,523
Southern Co. (The) 4.400%, 07/01/46		2,085,000		1,982,702
Southwestern Electric Power Co. 4.100%, 09/15/28		910,000		909,591
Stoneway Capital Corp. 10.000%, 03/01/27		635,024		615,179
10.000%, 03/01/27 (144A)		1,630,440		1,579,489
Tampa Electric Co. 4.300%, 06/15/48		260,000		257,958
Trans-Allegheny Interstate Line Co. 3.850%, 06/01/25 (144A)		1,975,000		1,954,795
Virginia Electric & Power Co. 2.750%, 03/15/23		1,690,000		1,636,367
3.500%, 03/15/27		2,495,000		2,437,824
4.000%, 01/15/43		1,650,000		1,578,640
4.000%, 11/15/46 (b)		1,050,000		991,475
4.200%, 05/15/45		250,000		243,106
4.450%, 02/15/44		287,000		289,527
WEC Energy Group, Inc. 3.375%, 06/15/21		390,000		390,105
				63,503,889
Electronics—0.1%
Corning, Inc. 4.375%, 11/15/57		2,760,000		2,412,803
Honeywell International, Inc. 3.812%, 11/21/47		495,000		470,927
Tyco Electronics Group S.A. 3.125%, 08/15/27		645,000		599,565
3.450%, 08/01/24		300,000		291,776
				3,775,071

BHFTII-15

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Engineering & Construction—0.0%
Aeropuerto Internacional de Tocumen S.A. 5.625%, 05/18/36 (144A)		276,000	$	284,280
Aeropuertos Argentina S.A. 6.875%, 02/01/27 (144A)		539,000		518,518
Aeropuertos Dominicanos Siglo S.A. 6.750%, 03/30/29 (144A)		279,000		289,741
				1,092,539
Environmental Control—0.1%
Republic Services, Inc. 3.950%, 05/15/28		1,890,000		1,877,379
Waste Management, Inc. 3.900%, 03/01/35		967,000		943,786
				2,821,165
Food—0.3%
Arcor SAIC 6.000%, 07/06/23 (144A)		281,000		280,649
Campbell Soup Co. 8.875%, 05/01/21		680,000		759,938
General Mills, Inc. 3.200%, 04/16/21 (b)		890,000		884,201
4.000%, 04/17/25		983,000		972,606
Kroger Co. (The) 2.650%, 10/15/26 (b)		2,415,000		2,153,578
MARB BondCo plc 6.875%, 01/19/25 (144A)		1,529,000		1,421,970
Tyson Foods, Inc. 3.550%, 06/02/27		1,420,000		1,339,512
3.900%, 09/28/23		225,000		225,833
3.950%, 08/15/24		1,745,000		1,743,998
5.100%, 09/28/48		200,000		203,654
				9,985,939
Forest Products & Paper—0.1%
Eldorado Intl. Finance GmbH 8.625%, 06/16/21 (144A)		609,000		622,702
Georgia-Pacific LLC 7.375%, 12/01/25		935,000		1,116,527
Klabin Finance S.A. 4.875%, 09/19/27 (144A)		510,000		450,713
Suzano Austria GmbH 6.000%, 01/15/29 (144A) (b)		881,000		884,524
				3,074,466
Gas—0.1%
NiSource, Inc. 2.650%, 11/17/22		240,000		228,998
3.490%, 05/15/27		1,825,000		1,729,945
				1,958,943
Healthcare-Products—0.6%
Abbott Laboratories 3.400%, 11/30/23		500,000		497,873
3.750%, 11/30/26 (b)		5,260,000		5,243,406

Security Description	Principal Amount*		Value
Healthcare-Products—(Continued)
Becton Dickinson & Co. 2.133%, 06/06/19		1,630,000	$	1,620,354
2.675%, 12/15/19		2,345,000		2,331,721
2.894%, 06/06/22		3,240,000		3,149,602
3.300%, 03/01/23		1,420,000		1,383,878
4.685%, 12/15/44		367,000		361,294
Edwards Lifesciences Corp. 4.300%, 06/15/28		485,000		484,489
Medtronic, Inc. 3.500%, 03/15/25 (b)		445,000		441,437
4.375%, 03/15/35		3,410,000		3,522,256
Thermo Fisher Scientific, Inc. 2.950%, 09/19/26		1,615,000		1,497,313
				20,533,623
Healthcare-Services—0.8%
Aetna, Inc. 4.125%, 11/15/42		475,000		434,514
4.500%, 05/15/42		881,000		845,948
4.750%, 03/15/44		690,000		679,567
AHS Hospital Corp. 5.024%, 07/01/45		490,000		544,337
Anthem, Inc. 4.101%, 03/01/28		905,000		890,928
Baylor Scott & White Holdings 4.185%, 11/15/45		775,000		761,199
Catholic Health Initiatives 4.350%, 11/01/42		550,000		494,881
Cigna Corp. 3.250%, 04/15/25		1,947,000		1,842,581
Dignity Health 2.637%, 11/01/19		1,319,000		1,310,753
Halfmoon Parent, Inc. 3.200%, 09/17/20 (144A)		7,505,000		7,476,556
4.125%, 11/15/25 (144A)		435,000		433,609
Kaiser Foundation Hospitals 3.500%, 04/01/22		1,288,000		1,290,290
4.150%, 05/01/47		383,000		381,875
Laboratory Corp. of America Holdings 2.625%, 02/01/20		1,583,000		1,573,004
Montefiore Obligated Group 5.246%, 11/01/48		1,089,000		1,086,816
Ochsner Clinic Foundation 5.897%, 05/15/45		638,000		764,726
Providence St Joseph Health Obligated Group 3.930%, 10/01/48		887,000		825,565
Rede D’or Finance S.a.r.l. 4.950%, 01/17/28 (144A)		370,000		319,125
Southern Baptist Hospital of Florida, Inc. 4.857%, 07/15/45		650,000		698,308
Sutter Health 3.695%, 08/15/28		1,045,000		1,025,397
Trinity Health Corp. 4.125%, 12/01/45		829,000		794,217

BHFTII-16

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
UnitedHealth Group, Inc. 3.750%, 07/15/25		1,730,000	$	1,737,601
3.750%, 10/15/47		1,050,000		974,506
3.850%, 06/15/28		450,000		450,871
4.200%, 01/15/47		790,000		784,525
4.625%, 07/15/35		377,000		401,194
				28,822,893
Holding Companies-Diversified—0.0%
Grupo KUO S.A.B. de C.V. 5.750%, 07/07/27 (144A)		1,068,000		1,025,280
Housewares—0.0%
Newell Brands, Inc. 2.875%, 12/01/19		906,000		904,359
Insurance—0.2%
Ambac Assurance Corp. 5.100%, 06/07/20 (144A)		162,922		221,981
Ambac LSNI LLC 7.396%, 3M LIBOR + 5.000%, 02/12/23 (144A) (c)		1,017,256		1,027,428
Aon plc 4.750%, 05/15/45		485,000		484,467
AXA Equitable Holdings, Inc. 3.900%, 04/20/23 (144A)		475,000		471,445
5.000%, 04/20/48 (144A)		780,000		725,580
Hartford Financial Services Group, Inc. (The) 4.300%, 04/15/43		325,000		307,530
Marsh & McLennan Cos., Inc. 3.750%, 03/14/26 (b)		359,000		352,410
4.200%, 03/01/48		1,215,000		1,144,197
4.350%, 01/30/47		191,000		182,260
Principal Financial Group, Inc. 4.300%, 11/15/46		360,000		338,909
Prudential Financial, Inc. 3.878%, 03/27/28		2,120,000		2,100,499
Travelers Cos., Inc. (The) 4.600%, 08/01/43		945,000		982,620
				8,339,326
Iron/Steel—0.1%
Nucor Corp. 5.200%, 08/01/43		585,000		635,254
Samarco Mineracao S.A. 4.125%, 11/01/22		602,000		413,574
Steel Dynamics, Inc. 5.125%, 10/01/21		1,086,000		1,097,946
				2,146,774
Media—1.3%
Cablevision S.A. 6.500%, 06/15/21 (144A)		277,000		272,845
CBS Corp. 2.300%, 08/15/19		2,077,000		2,066,029

Security Description	Principal Amount*		Value
Media—(Continued)
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 3.579%, 07/23/20		6,710,000	$	6,714,022
4.500%, 02/01/24		2,115,000		2,123,883
4.908%, 07/23/25		2,902,000		2,945,397
5.375%, 05/01/47		795,000		757,849
5.750%, 04/01/48		1,145,000		1,144,293
6.384%, 10/23/35		3,898,000		4,198,730
Comcast Corp. 3.150%, 03/01/26		2,980,000		2,812,356
3.200%, 07/15/36		2,770,000		2,308,344
3.400%, 07/15/46		1,625,000		1,312,763
4.250%, 01/15/33		1,356,000		1,328,131
4.400%, 08/15/35		1,001,000		981,101
COX Communications, Inc. 3.150%, 08/15/24 (144A)		2,780,000		2,633,934
Discovery Communications LLC 3.800%, 03/13/24		1,616,000		1,584,580
3.950%, 06/15/25 (144A)		1,230,000		1,199,758
5.200%, 09/20/47		435,000		426,193
NBCUniversal Enterprise, Inc. 5.250%, 12/31/49 (144A)		1,290,000		1,308,053
NBCUniversal Media LLC 4.450%, 01/15/43		915,000		871,881
Time Warner Cable LLC 4.125%, 02/15/21		2,130,000		2,147,044
4.500%, 09/15/42		161,000		137,217
5.000%, 02/01/20		1,055,000		1,075,836
5.500%, 09/01/41		588,000		565,526
Viacom, Inc. 2.750%, 12/15/19		705,000		700,980
6.875%, 04/30/36		850,000		966,675
Warner Media LLC 2.100%, 06/01/19		3,352,000		3,334,713
3.600%, 07/15/25		820,000		785,406
4.650%, 06/01/44		440,000		395,194
4.850%, 07/15/45		1,980,000		1,843,938
				48,942,671
Mining—0.2%
Anglo American Capital plc 3.625%, 09/11/24 (144A)		2,075,000		1,974,985
Barrick Gold Corp. 5.250%, 04/01/42		720,000		749,804
BHP Billiton Finance USA, Ltd. 5.000%, 09/30/43		760,000		842,438
Largo Resources, Ltd. 9.250%, 06/01/21 (144A)		96,000		100,320
Newmont Mining Corp. 3.500%, 03/15/22		2,740,000		2,716,333
				6,383,880
Miscellaneous Manufacturing—0.1%
Eaton Corp. 2.750%, 11/02/22		1,285,000		1,246,843

BHFTII-17

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Miscellaneous Manufacturing—(Continued)
General Electric Co. 4.500%, 03/11/44		1,019,000	$	959,705
				2,206,548
Office/Business Equipment—0.0%
Xerox Corp. 3.625%, 03/15/23		615,000		585,449
Oil & Gas—1.3%
Anadarko Petroleum Corp. 6.200%, 03/15/40		1,690,000		1,871,715
Andeavor 4.750%, 12/15/23		820,000		846,286
Apache Corp. 2.625%, 01/15/23		985,000		939,877
4.250%, 01/15/44 (b)		2,090,000		1,861,014
5.100%, 09/01/40		720,000		711,184
Cenovus Energy, Inc. 4.250%, 04/15/27		2,490,000		2,406,012
Cimarex Energy Co. 3.900%, 05/15/27		1,790,000		1,708,050
4.375%, 06/01/24		2,595,000		2,616,901
Concho Resources, Inc. 3.750%, 10/01/27		3,130,000		2,986,115
Continental Resources, Inc. 3.800%, 06/01/24		1,515,000		1,485,250
4.500%, 04/15/23		5,340,000		5,432,724
5.000%, 09/15/22		1,530,000		1,552,185
Devon Energy Corp. 4.000%, 07/15/21		885,000		893,227
EOG Resources, Inc. 3.900%, 04/01/35		275,000		268,119
4.150%, 01/15/26 (b)		537,000		548,969
Exxon Mobil Corp. 1.819%, 03/15/19		3,300,000		3,288,679
Frontera Energy Corp. 9.700%, 06/25/23 (144A)		603,000		632,396
Hess Corp. 5.800%, 04/01/47		740,000		778,202
Marathon Petroleum Corp. 5.850%, 12/15/45		660,000		693,562
Odebrecht Drilling Norbe VIII/IX, Ltd. 6.350%, 12/01/21 (144A)		409,050		400,358
Odebrecht Offshore Drilling Finance, Ltd. 6.720%, 12/01/22 (144A)		380,575		357,741
7.720%, PIK, 12/01/26 (144A) (i)		11,944		3,404
Petrobras Global Finance B.V. 5.999%, 01/27/28		877,000		809,033
7.375%, 01/17/27		877,000		887,787
8.750%, 05/23/26		877,000		960,315
Petroleos Mexicanos 5.350%, 02/12/28 (144A)		2,341,000		2,206,393
6.750%, 09/21/47		541,000		516,217
Pioneer Natural Resources Co. 4.450%, 01/15/26		3,960,000		4,055,243

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Puma International Financing S.A. 5.000%, 01/24/26 (144A)		806,000	$	678,815
Resolute Energy Corp. 8.500%, 05/01/20		2,260,000		2,262,825
Shell International Finance B.V. 3.625%, 08/21/42		640,000		592,852
4.125%, 05/11/35		421,000		425,873
Tecpetrol S.A. 4.875%, 12/12/22 (144A)		588,000		533,610
Valero Energy Corp. 3.650%, 03/15/25		2,410,000		2,355,965
YPF S.A. 8.750%, 04/04/24		501,000		499,121
8.750%, 04/04/24 (144A)		345,000		343,706
				49,409,725
Oil & Gas Services—0.2%
Halliburton Co. 3.800%, 11/15/25 (b)		5,625,000		5,574,898
5.000%, 11/15/45 (b)		234,000		249,513
Odebrecht Oil & Gas Finance, Ltd. Zero Coupon, 10/29/18 (144A)		63,301		899
Schlumberger Holdings Corp. 3.000%, 12/21/20 (144A)		1,832,000		1,817,499
				7,642,809
Packaging & Containers—0.1%
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC 5.750%, 10/15/20		2,190,183		2,195,659
Pharmaceuticals—1.1%
AbbVie, Inc. 3.750%, 11/14/23		1,020,000		1,014,821
4.250%, 11/14/28		1,035,000		1,019,511
4.400%, 11/06/42		880,000		813,533
4.500%, 05/14/35		2,365,000		2,269,002
Allergan Finance LLC 3.250%, 10/01/22		1,015,000		996,363
Allergan Funding SCS 3.800%, 03/15/25		9,838,000		9,629,995
Bayer US Finance II LLC 3.375%, 07/15/24 (144A)		285,000		271,487
3.600%, 07/15/42 (144A)		570,000		446,254
CVS Health Corp. 4.000%, 12/05/23		2,205,000		2,208,947
4.100%, 03/25/25		2,945,000		2,935,851
4.780%, 03/25/38		740,000		734,237
5.050%, 03/25/48		2,250,000		2,298,703
5.125%, 07/20/45		5,110,000		5,246,793
GlaxoSmithKline Capital, Inc. 3.875%, 05/15/28 (b)		840,000		848,276
Johnson & Johnson 3.625%, 03/03/37		305,000		293,108
Merck & Co., Inc. 3.600%, 09/15/42		245,000		230,835

BHFTII-18

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Shire Acquisitions Investments Ireland DAC 1.900%, 09/23/19		6,480,000	$	6,410,860
Wyeth LLC 5.950%, 04/01/37		1,685,000		2,040,091
				39,708,667
Pipelines—1.7%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 4.250%, 12/01/27		535,000		522,453
5.200%, 12/01/47		1,240,000		1,236,556
5.250%, 01/15/25		100,000		102,418
5.500%, 10/15/19		2,260,000		2,302,420
Buckeye Partners L.P. 4.875%, 02/01/21		3,110,000		3,165,947
Enbridge, Inc. 2.900%, 07/15/22		2,120,000		2,055,984
3.700%, 07/15/27 (b)		1,690,000		1,631,381
5.500%, 3M LIBOR + 3.418%, 07/15/77 (c)		1,510,000		1,397,567
Energy Transfer Equity L.P. 4.250%, 03/15/23		4,600,000		4,571,250
5.875%, 01/15/24		2,789,000		2,935,423
Energy Transfer L.P. / Regency Energy Finance Corp. 5.000%, 10/01/22		630,000		652,403
Energy Transfer Partners L.P. 4.900%, 02/01/24		330,000		340,050
6.500%, 02/01/42		2,650,000		2,906,608
Enterprise Products Operating LLC 4.900%, 05/15/46		1,429,000		1,475,604
5.100%, 02/15/45		501,000		527,883
Kinder Morgan Energy Partners L.P. 5.000%, 03/01/43		360,000		351,713
5.800%, 03/15/35		585,000		637,664
6.375%, 03/01/41		260,000		295,833
Kinder Morgan, Inc. 5.050%, 02/15/46		3,185,000		3,176,798
MPLX L.P. 4.875%, 06/01/25		1,101,000		1,137,106
5.200%, 03/01/47		754,000		754,440
Northwest Pipeline LLC 4.000%, 04/01/27 (144A)		2,735,000		2,645,897
Plains All American Pipeline L.P. / PAA Finance Corp. 3.650%, 06/01/22		280,000		276,527
Regency Energy Partners L.P. / Regency Energy Finance Corp. 4.500%, 11/01/23		2,190,000		2,221,064
5.875%, 03/01/22		3,395,000		3,592,026
Sabine Pass Liquefaction LLC 5.625%, 04/15/23		3,230,000		3,433,151
5.750%, 05/15/24		3,380,000		3,627,458
5.875%, 06/30/26		1,160,000		1,252,314
Spectra Energy Partners L.P. 4.500%, 03/15/45		2,060,000		1,967,513
Sunoco Logistics Partners Operations L.P. 5.400%, 10/01/47		2,610,000		2,577,859
TransCanada PipeLines, Ltd. 4.875%, 05/15/48		1,235,000		1,265,192

Security Description	Principal Amount*		Value
Pipelines—(Continued)
Transcontinental Gas Pipe Line Co. LLC 4.000%, 03/15/28		1,750,000	$	1,709,066
4.600%, 03/15/48		390,000		378,912
7.850%, 02/01/26		895,000		1,089,794
Williams Cos., Inc. (The) 3.700%, 01/15/23		1,070,000		1,057,841
4.000%, 11/15/21		675,000		681,148
4.550%, 06/24/24		680,000		690,669
5.750%, 06/24/44		1,480,000		1,581,706
7.500%, 01/15/31		645,000		782,930
Williams Partners L.P. 4.000%, 09/15/25		1,765,000		1,735,919
				64,744,487
Real Estate Investment Trusts—0.3%
American Tower Corp. 3.000%, 06/15/23		1,520,000		1,463,021
3.300%, 02/15/21		1,342,000		1,333,791
3.450%, 09/15/21		500,000		497,869
CC Holdings GS V LLC / Crown Castle GS III Corp. 3.849%, 04/15/23		850,000		844,173
Crown Castle International Corp. 2.250%, 09/01/21		2,481,000		2,383,009
3.200%, 09/01/24		3,660,000		3,480,853
3.400%, 02/15/21		668,000		666,266
Trust F/1401 6.950%, 01/30/44		280,000		288,400
				10,957,382
Retail—0.3%
Home Depot, Inc. (The) 5.875%, 12/16/36		405,000		493,995
Lowe’s Cos., Inc. 4.375%, 09/15/45		1,405,000		1,413,176
McDonald’s Corp. 3.700%, 02/15/42		290,000		253,242
4.450%, 03/01/47		765,000		749,965
4.450%, 09/01/48		495,000		488,208
4.700%, 12/09/35		1,035,000		1,074,708
4.875%, 12/09/45		930,000		971,122
Walgreens Boots Alliance, Inc. 3.800%, 11/18/24		2,250,000		2,221,243
4.800%, 11/18/44		114,000		110,519
Walmart, Inc. 3.550%, 06/26/25		1,370,000		1,376,209
4.050%, 06/29/48		650,000		649,612
				9,801,999
Semiconductors—0.8%
Analog Devices, Inc. 2.500%, 12/05/21		1,895,000		1,823,267
3.500%, 12/05/26		1,920,000		1,837,879
3.900%, 12/15/25		347,000		340,432
5.300%, 12/15/45		113,000		120,553

BHFTII-19

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Semiconductors—(Continued)
Applied Materials, Inc. 4.350%, 04/01/47 (b)		567,000	$	563,409
5.100%, 10/01/35		1,139,000		1,248,737
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.375%, 01/15/20		1,782,000		1,761,093
3.000%, 01/15/22		10,267,000		10,000,857
Lam Research Corp. 2.750%, 03/15/20		1,335,000		1,327,156
NXP B.V. / NXP Funding LLC 3.875%, 09/01/22 (144A)		2,956,000		2,926,440
4.125%, 06/01/21 (144A)		1,255,000		1,259,079
4.625%, 06/15/22 (144A)		715,000		721,256
QUALCOMM, Inc. 2.600%, 01/30/23		3,105,000		2,985,091
4.300%, 05/20/47 (b)		2,255,000		2,124,203
4.800%, 05/20/45		841,000		850,537
Texas Instruments, Inc. 4.150%, 05/15/48		660,000		660,867
				30,550,856
Software—0.8%
Autodesk, Inc. 3.500%, 06/15/27		2,130,000		1,982,723
Fidelity National Information Services, Inc. 3.000%, 08/15/26		4,000,000		3,694,464
4.500%, 08/15/46		15,000		14,134
4.750%, 05/15/48		1,560,000		1,544,625
Microsoft Corp. 3.450%, 08/08/36		4,100,000		3,905,801
3.500%, 02/12/35		1,449,000		1,395,918
3.700%, 08/08/46		4,105,000		3,933,881
Oracle Corp. 2.650%, 07/15/26		1,710,000		1,585,992
3.250%, 11/15/27		979,000		941,838
3.900%, 05/15/35		1,422,000		1,374,529
4.000%, 07/15/46		1,364,000		1,297,743
4.000%, 11/15/47		595,000		563,832
VMware, Inc. 2.300%, 08/21/20		6,979,000		6,841,310
				29,076,790
Telecommunications—1.9%
AT&T, Inc. 4.300%, 02/15/30 (144A)		8,555,000		8,221,563
4.350%, 06/15/45		4,340,000		3,733,196
5.150%, 02/15/50 (144A)		2,080,000		1,965,453
5.250%, 03/01/37		1,953,000		1,944,104
Axtel S.A.B. de CV 6.375%, 11/14/24		200,000		197,292
6.375%, 11/14/24 (144A)		920,000		907,543
Deutsche Telekom International Finance B.V. 4.375%, 06/21/28 (144A)		1,100,000		1,095,976
Digicel Group, Ltd. 7.125%, 04/01/22 (144A) (b)		386,000		252,776

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Juniper Networks, Inc. 3.300%, 06/15/20 (b)		1,478,000	$	1,476,569
Oi S.A. 10.000%, 4.000% PIK, 07/27/25 (i)		628,000		646,840
Rogers Communications, Inc. 5.000%, 03/15/44		214,000		223,616
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.360%, 09/20/21 (144A)		2,757,750		2,747,408
4.738%, 03/20/25 (144A)		9,605,000		9,600,678
Telefonica Emisiones S.A.U. 4.665%, 03/06/38		1,895,000		1,778,107
TELUS Corp. 4.600%, 11/16/48		235,000		233,463
Verizon Communications, Inc. 2.860%, 3M LIBOR + 0.550%, 05/22/20 (c)		4,870,000		4,897,761
4.125%, 08/15/46		1,160,000		1,038,072
4.329%, 09/21/28 (144A)		11,893,000		11,960,874
4.400%, 11/01/34		760,000		740,286
4.500%, 08/10/33		3,260,000		3,233,372
5.500%, 03/16/47 (b)		4,200,000		4,578,228
Vodafone Group plc 3.750%, 01/16/24		4,154,000		4,106,422
4.125%, 05/30/25		1,250,000		1,239,830
5.250%, 05/30/48		2,985,000		2,992,374
				69,811,803
Transportation—0.4%
Burlington Northern Santa Fe LLC 4.125%, 06/15/47		970,000		959,925
4.150%, 04/01/45		490,000		482,500
4.150%, 12/15/48		105,000		103,644
4.700%, 09/01/45		665,000		704,473
CSX Corp. 4.250%, 11/01/66		635,000		568,487
FedEx Corp. 3.900%, 02/01/35		1,975,000		1,857,327
4.050%, 02/15/48		2,470,000		2,210,982
4.900%, 01/15/34		190,000		201,204
Hidrovias International Finance S.a.r.l. 5.950%, 01/24/25 (144A)		588,000		536,550
Norfolk Southern Corp. 3.650%, 08/01/25		175,000		173,769
4.050%, 08/15/52		995,000		930,205
Rumo Luxembourg S.a.r.l. 5.875%, 01/18/25 (144A)		679,000		633,592
7.375%, 02/09/24 (144A)		1,004,000		1,025,737
Ryder System, Inc. 3.750%, 06/09/23		135,000		134,667
Union Pacific Corp. 3.375%, 02/01/35		1,148,000		1,031,406
3.600%, 09/15/37		1,475,000		1,348,950
3.799%, 10/01/51		310,000		274,951
3.875%, 02/01/55		1,196,000		1,049,810

BHFTII-20

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Transportation—(Continued)
Union Pacific Railroad Co. Pass-Through Trust 3.227%, 05/14/26		735,629	$	712,424
				14,940,603
Trucking & Leasing—0.1%
GATX Corp. 2.600%, 03/30/20		1,747,000		1,724,896
3.850%, 03/30/27		650,000		617,539
Penske Truck Leasing Co. L.P. / PTL Finance Corp. 3.400%, 11/15/26 (144A)		2,690,000		2,502,740
				4,845,175
Total Corporate Bonds & Notes (Cost $1,111,189,008)				1,091,364,233
Asset-Backed Securities—12.3%
Asset-Backed - Credit Card—0.0%
World Financial Network Credit Card Master Trust 4.550%, 08/15/22		1,600,000		1,600,929
Asset-Backed - Home Equity—1.0%
ACE Securities Corp. Home Equity Loan Trust 2.346%, 1M LIBOR + 0.130%, 05/25/37 (c)		1,198,039		377,653
Bayview Financial Revolving Asset Trust 3.242%, 1M LIBOR + 1.000%, 05/28/39 (144A) (c)		7,642,362		6,746,777
3.242%, 1M LIBOR + 1.000%, 12/28/40 (144A) (c)		532,634		508,526
Bear Stearns Asset-Backed Securities Trust 2.566%, 1M LIBOR + 0.350%, 04/25/37 (c)		2,586,562		2,050,334
3.416%, 1M LIBOR + 1.200%, 01/25/36 (c)		97,646		96,402
3.941%, 1M LIBOR + 1.725%, 08/25/34 (c)		93,048		93,014
Citigroup Mortgage Loan Trust 2.416%, 1M LIBOR + 0.200%, 05/25/37 (c)		2,741,169		1,980,186
2.466%, 1M LIBOR + 0.250%, 08/25/36 (c)		1,810,000		1,765,023
2.486%, 1M LIBOR + 0.270%, 05/25/37 (c)		1,245,159		907,187
Countrywide Asset-Backed Certificates 2.536%, 1M LIBOR + 0.320%, 10/25/36 (c)		1,340,654		1,272,508
Countrywide Home Equity Loan Trust 5.842%, 06/25/35		124,410		167,034
6.155%, 06/25/35		405,765		438,360
Home Equity Mortgage Loan Asset-Backed Trust 4.241%, 1M LIBOR + 2.025%, 07/25/34 (c)		266,538		267,381
Home Equity Mortgage Trust 5.867%, 07/25/36		748,000		264,641
Home Loan Mortgage Loan Trust 2.878%, 1M LIBOR + 0.720%, 04/15/36 (c)		904,221		832,701
Irwin Home Equity Loan Trust 6.530%, 09/25/37 (144A)		269,645		262,256
MASTR Asset-Backed Securities Trust 2.366%, 1M LIBOR + 0.150%, 06/25/36 (c)		971,429		553,087
2.476%, 1M LIBOR + 0.260%, 06/25/36 (144A) (c)		648,130		513,437
2.496%, 1M LIBOR + 0.280%, 05/25/37 (c)		621,846		522,232
Mill City Mortgage Trust 1.000%, 06/01/57 (144A)		3,560,000		890,000
4.000%, 06/01/57 (144A)		2,124,780		2,124,780
Asset-Backed - Home Equity—(Continued)
Morgan Stanley ABS Capital I, Inc. Trust 2.346%, 1M LIBOR + 0.130%, 11/25/36 (c)		4,828,737		2,989,817
Nationstar Home Equity Loan Trust 2.396%, 1M LIBOR + 0.180%, 06/25/37 (c)		122,023		121,293
Option One Mortgage Loan Trust 2.426%, 1M LIBOR + 0.210%, 03/25/37 (c)		930,000		636,736
5.820%, 03/25/37		4,612,964		4,533,152
5.866%, 01/25/37		2,560,156		2,408,019
Securitized Asset Backed Receivables LLC Trust 2.406%, 1M LIBOR + 0.190%, 11/25/36 (144A) (c)		1,047,850		642,861
Security National Mortgage Loan Trust 2.566%, 1M LIBOR + 0.350%, 04/25/37 (144A) (c)		352,524		347,359
WaMu Asset-Backed Certificates WaMu Trust 2.466%, 1M LIBOR + 0.250%, 04/25/37 (c)		3,331,933		1,791,243
2.576%, 1M LIBOR + 0.360%, 04/25/37 (c)		354,018		192,048
Yale Mortgage Loan Trust 2.616%, 1M LIBOR + 0.400%, 06/25/37 (144A) (c)		903,721		393,793
				36,689,840
Asset-Backed - Manufactured Housing—0.5%
Bank of America Manufactured Housing Contract Trust 7.070%, 02/10/22 (c)		470,000		407,778
7.930%, 12/10/25 (c)		4,000,000		2,754,465
BCMSC Trust 7.575%, 06/15/30 (c)		1,270,292		469,187
7.830%, 06/15/30 (c)		1,178,847		450,069
8.290%, 06/15/30 (c)		2,018,917		816,079
Conseco Finance Corp. 6.280%, 09/01/30		501,418		533,412
6.830%, 04/01/30 (c)		139,980		126,065
6.980%, 09/01/30 (c)		1,060,719		916,371
7.500%, 03/01/30 (c)		476,095		336,952
7.860%, 03/01/30 (c)		651,131		476,203
Conseco Finance Securitizations Corp. 7.960%, 05/01/31		975,314		600,309
7.970%, 05/01/32		2,294,133		1,075,082
8.060%, 09/01/29 (c)		658,293		327,636
8.200%, 05/01/31		1,782,163		1,126,562
Credit Suisse First Boston Mortgage Securities Corp. 8.100%, 09/25/31 (c)		720,000		766,865
Credit-Based Asset Servicing & Securitization LLC 6.250%, 10/25/36 (144A)		344,000		346,873
Greenpoint Manufactured Housing 8.290%, 12/15/29 (c)		440,000		469,072
9.230%, 12/15/29 (c)		547,844		450,650
Lehman ABS Manufactured Housing Contract Trust 6.630%, 04/15/40 (c)		2,430,000		2,561,570
Oakwood Mortgage Investors, Inc. 6.930%, 09/15/31 (c)		271,215		235,160
7.620%, 06/15/32 (c)		818,602		684,087
Origen Manufactured Housing Contract Trust 3.358%, 1M LIBOR + 1.200%, 10/15/37 (144A) (c)		920,250		928,260
7.820%, 03/15/32 (c)		344,754		339,512
				17,198,219

BHFTII-21

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—10.3%
Ajax Mortgage Loan Trust Zero Coupon, 02/26/57 (144A)		1,124,905	$	490,909
Zero Coupon, 12/25/57 (144A) (c)		1,729,636		1,072,374
Zero Coupon, 04/25/58 (144A)		800,456		584,333
Zero Coupon, 08/25/58		895,000		548,714
3.470%, 04/25/57 (144A)		3,062,787		3,042,966
3.750%, 12/25/57 (144A)		3,704,412		3,704,412
3.750%, 08/25/58		3,511,000		3,511,000
3.850%, 04/25/58 (144A)		3,427,505		3,406,746
4.000%, 10/25/57 (144A)		726,395		728,271
Allegro CLO, Ltd. 3.233%, 3M LIBOR + 1.080%, 10/21/28 (144A) (c)		1,370,000		1,370,000
3.466%, 3M LIBOR + 1.130%, 01/17/31 (144A) (c)		1,270,000		1,268,068
3.579%, 3M LIBOR + 1.240%, 10/16/30 (144A) (c)		400,000		400,660
ALM, Ltd. 2.604%, 3M LIBOR + 1.250%, 10/18/27 (144A) (c)		900,000		892,432
3.229%, 3M LIBOR + 0.890%, 04/16/27 (144A) (c)		2,780,000		2,773,261
3.239%, 3M LIBOR + 1.500%, 07/15/27 (144A) (c)		1,810,000		1,806,480
3.243%, 3M LIBOR + 0.910%, 10/18/27 (144A) (c)		1,450,000		1,447,758
3.748%, 3M LIBOR + 1.400%, 07/15/26 (144A) (c)		459,000		458,536
3.989%, 3M LIBOR + 1.650%, 04/16/27 (144A) (c)		1,385,000		1,372,624
4.239%, 3M LIBOR + 1.900%, 07/15/27 (144A) (c)		720,000		718,550
AMMC CLO, Ltd. 3.541%, 3M LIBOR + 1.200%, 11/10/30 (144A) (c)		500,000		500,124
AMSR Trust 5.308%, 1M LIBOR + 3.150%, 11/17/33 (144A) (c)		340,000		340,687
6.058%, 1M LIBOR + 3.900%, 11/17/33 (144A) (c)		130,000		130,371
7.258%, 1M LIBOR + 5.100%, 11/17/33 (144A) (c)		460,000		462,584
Anchorage Capital CLO, Ltd. 3.299%, 3M LIBOR + 0.960%, 10/15/27 (144A) (c)		7,290,000		7,276,462
3.327%, 3M LIBOR + 0.990%, 04/13/31 (144A) (c)		2,760,000		2,744,423
3.587%, 3M LIBOR + 1.250%, 10/13/30 (144A) (c)		835,000		836,622
3.609%, 3M LIBOR + 1.270%, 07/15/30 (144A) (c)		710,000		711,057
3.639%, 3M LIBOR + 1.300%, 10/15/27 (144A) (c)		1,130,000		1,121,974
3.789%, 3M LIBOR + 1.450%, 01/15/30 (144A) (c)		2,410,000		2,397,634
3.839%, 3M LIBOR + 1.500%, 01/28/31 (144A) (c)		1,270,000		1,261,607
3.939%, 3M LIBOR + 1.600%, 07/28/28 (144A) (c)		800,000		799,183
4.039%, 3M LIBOR + 1.700%, 10/15/27 (144A) (c)		250,000		248,778
4.189%, 3M LIBOR + 1.850%, 01/15/30 (144A) (c)		1,010,000		1,001,397
4.189%, 3M LIBOR + 1.850%, 01/28/31 (144A) (c)		1,390,000		1,369,933
4.487%, 3M LIBOR + 2.150%, 10/13/30 (144A) (c)		590,000		589,833
Apidos CLO 3.322%, 3M LIBOR + 0.980%, 01/19/25 (144A) (c)		294,720		294,570
3.419%, 3M LIBOR + 1.080%, 04/15/31 (144A) (c)		1,040,000		1,036,754
4.148%, 3M LIBOR + 1.800%, 10/20/28 (144A) (c)		960,000		960,107
Arbor Realty Collateralized Loan Obligation, Ltd. 3.148%, 1M LIBOR + 0.990%, 12/15/27 (144A) (c)		1,200,000		1,201,906
Arbor Realty Commercial Real Estate Notes, Ltd. 3.148%, 1M LIBOR + 0.990%, 08/15/27 (144A) (c)		570,000		570,732
3.858%, 1M LIBOR + 1.700%, 09/15/26 (144A) (c)		1,590,000		1,598,411
Ares CLO, Ltd. 3.509%, 3M LIBOR + 1.170%, 10/15/30 (144A) (c)		390,000		390,157
ArrowMark Colorado Holdings 3.495%, 3M LIBOR + 1.160%, 10/25/30 (144A) (c)		750,000		750,086
4.385%, 3M LIBOR + 2.050%, 10/25/30 (144A) (c)		1,125,000		1,113,724
Asset-Backed - Other—(Continued)
Atlas Senior Loan Fund IV, Ltd. 2.994%, 3M LIBOR + 0.680%, 02/17/26 (144A) (c)		2,079,940		2,073,998
Atrium 3.487%, 3M LIBOR + 1.140%, 10/23/25 (144A) (c)		380,000		380,044
3.997%, 3M LIBOR + 1.650%, 04/22/27 (144A) (c)		1,119,000		1,106,377
Avery Point CLO, Ltd. 3.316%, 3M LIBOR + 0.980%, 07/17/26 (144A) (c)		1,220,000		1,219,378
3.839%, 3M LIBOR + 1.500%, 01/15/28 (144A) (c)		2,820,000		2,822,499
B2R Mortgage Trust 2.524%, 05/15/48 (144A)		395,414		390,355
3.336%, 11/15/48 (144A)		388,995		387,011
Babson CLO, Ltd. 3.338%, 3M LIBOR + 0.990%, 01/20/31 (144A) (c)		680,000		676,943
3.538%, 3M LIBOR + 1.190%, 10/20/30 (144A) (c)		870,000		870,459
3.748%, 3M LIBOR + 1.400%, 01/20/31 (144A) (c)		250,000		248,379
4.948%, 3M LIBOR + 2.600%, 07/20/28 (144A) (c)		350,000		350,217
Benefit Street Partners CLO, Ltd. 3.113%, 3M LIBOR + 0.780%, 07/18/27 (144A) (c)		820,000		817,074
3.207%, 3M LIBOR + 1.090%, 04/20/31 (144A) (c)		440,000		438,173
3.448%, 3M LIBOR + 1.100%, 01/20/31 (144A) (c)		2,000,000		1,995,952
3.573%, 3M LIBOR + 1.240%, 10/18/29 (144A) (c)		3,800,000		3,800,802
BlueMountain CLO, Ltd. 3.349%, 3M LIBOR + 1.010%, 04/15/25 (144A) (c)		1,797,755		1,798,133
3.527%, 3M LIBOR + 1.180%, 10/22/30 (144A) (c)		760,000		760,888
Bowman Park CLO, Ltd. 3.490%, 3M LIBOR + 1.180%, 11/23/25 (144A) (c)		1,100,000		1,100,372
BSPRT Issuer, Ltd. 3.208%, 1M LIBOR + 1.050%, 03/15/28 (144A) (c)		1,380,000		1,379,103
3.508%, 1M LIBOR + 1.350%, 06/15/27 (144A) (c)		751,611		752,889
C-BASS Trust 2.376%, 1M LIBOR + 0.160%, 10/25/36 (c)		274,931		211,228
2.386%, 1M LIBOR + 0.170%, 04/25/37 (c)		423,023		320,268
3.633%, 01/25/37		2,488,077		1,228,105
Carlyle Global Market Strategies CLO, Ltd. 3.138%, 3M LIBOR + 1.050%, 07/27/31 (144A) (c)		4,100,000		4,082,436
3.223%, 3M LIBOR + 0.890%, 01/18/29 (144A) (c)		510,000		505,078
3.306%, 3M LIBOR + 0.970%, 04/17/31 (144A) (c)		970,000		962,920
3.798%, 3M LIBOR + 1.450%, 01/20/29 (144A) (c)		7,485,000		7,496,826
3.939%, 3M LIBOR + 1.600%, 07/28/28 (144A) (c)		640,000		639,985
Carlyle U.S. CLO, Ltd. 3.519%, 3M LIBOR + 1.180%, 01/15/30 (144A) (c)		1,550,000		1,552,356
Carrington Mortgage Loan Trust 2.336%, 1M LIBOR + 0.120%, 10/25/36 (c)		484,461		365,427
2.366%, 1M LIBOR + 0.150%, 06/25/37 (c)		275,693		273,622
2.376%, 1M LIBOR + 0.160%, 10/25/36 (c)		630,656		557,826
2.436%, 1M LIBOR + 0.220%, 10/25/36 (c)		730,000		503,221
2.456%, 1M LIBOR + 0.240%, 08/25/36 (c)		4,800,000		3,648,849
2.686%, 1M LIBOR + 0.470%, 12/25/35 (c)		834,000		831,525
CBAM, Ltd. 3.598%, 3M LIBOR + 1.250%, 07/20/30 (144A) (c)		2,000,000		2,014,192
4.086%, 3M LIBOR + 1.750%, 10/17/29 (144A) (c)		1,020,000		1,021,166
Cedar Funding CLO, Ltd. 3.217%, 3M LIBOR + 0.980%, 04/20/31 (144A) (c)		380,000		377,859
3.586%, 3M LIBOR + 1.250%, 10/17/30 (144A) (c)		5,150,000		5,152,142
3.946%, 3M LIBOR + 1.100%, 07/17/31 (144A) (c)		770,000		769,607

BHFTII-22

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Cent CLO, Ltd. 3.286%, 3M LIBOR + 1.070%, 10/15/26 (144A) (c)		1,130,000	$	1,129,229
Chase Funding Trust 6.333%, 04/25/32		339,460		343,595
CIFC Funding, Ltd. 3.157%, 3M LIBOR + 1.000%, 04/18/31 (144A) (c)		1,520,000		1,508,030
3.433%, 3M LIBOR + 1.100%, 01/18/31 (144A) (c)		340,000		338,629
3.543%, 3M LIBOR + 1.210%, 10/18/30 (144A) (c)		2,130,000		2,132,300
3.847%, 3M LIBOR + 1.500%, 07/22/26 (144A) (c)		290,000		289,994
4.089%, 3M LIBOR + 1.750%, 07/16/30 (144A) (c)		250,000		250,431
4.247%, 3M LIBOR + 1.900%, 07/22/26 (144A) (c)		470,000		470,100
Citicorp Residential Mortgage Trust 5.154%, 06/25/37		1,030,000		977,760
Citigroup Mortgage Loan Trust, Inc. 2.536%, 1M LIBOR + 0.320%, 11/25/36 (c)		990,000		842,825
Colony American Homes 3.331%, 1M LIBOR + 1.200%, 07/17/32 (144A) (c)		1,579,528		1,581,484
Countrywide Asset-Backed Certificates 2.376%, 1M LIBOR + 0.160%, 12/25/35 (c)		1,915,262		1,884,524
2.436%, 1M LIBOR + 0.220%, 12/25/25 (c)		74,186		80,512
Countrywide Asset-Backed Certificates Trust 2.376%, 1M LIBOR + 0.160%, 09/25/46 (c)		121,731		119,722
Countrywide Revolving Home Equity Loan Resecuritization Trust 2.458%, 1M LIBOR + 0.300%, 12/15/33 (144A) (c)		612,180		577,408
Countrywide Revolving Home Equity Loan Trust 2.338%, 1M LIBOR + 0.180%, 05/15/35 (c)		407,970		393,076
Credit Suisse Mortgage Trust 4.500%, 03/25/21 (144A)		5,255,358		5,304,187
Credit-Based Asset Servicing & Securitization LLC 3.468%, 12/25/36		211,292		191,962
CWABS Asset-Backed Certificates Trust 4.543%, 05/25/36 (c)		412,795		403,081
4.946%, 05/25/36 (c)		1,465,137		1,433,458
CWHEQ Revolving Home Equity Loan Resuritization Trust 2.398%, 1M LIBOR + 0.240%, 12/15/35 (144A) (c)		480,013		464,009
CWHEQ Revolving Home Equity Loan Trust 2.308%, 1M LIBOR + 0.150%, 11/15/36 (c)		821,164		674,291
DCP Rights LLC 5.463%, 10/25/44 (144A)		6,694,962		6,639,775
Dorchester Park CLO DAC 3.798%, 3M LIBOR + 1.450%, 04/20/28 (144A) (c)		934,000		926,361
Dryden 41 Senior Loan Fund 3.309%, 3M LIBOR + 0.970%, 04/15/31 (144A) (c)		250,000		248,170
Dryden CLO, Ltd. 3.459%, 3M LIBOR + 1.120%, 01/15/31 (144A) (c)		6,020,000		6,014,642
Dryden Senior Loan Fund 3.239%, 3M LIBOR + 0.900%, 10/15/27 (144A) (c)		1,630,000		1,629,112
3.514%, 3M LIBOR + 1.200%, 08/15/30 (144A) (c)		2,205,000		2,205,375
4.189%, 3M LIBOR + 1.850%, 10/15/27 (144A) (c)		660,000		656,534
First Franklin Mortgage Loan Trust 2.356%, 1M LIBOR + 0.140%, 12/25/36 (c)		5,531,097		3,364,246
2.366%, 1M LIBOR + 0.150%, 12/25/36 (c)		3,160,437		2,743,592
2.376%, 1M LIBOR + 0.160%, 04/25/36 (c)		438,741		426,617
2.426%, 1M LIBOR + 0.210%, 12/25/36 (c)		10,174,799		6,257,201
Flatiron CLO, Ltd. 3.229%, 3M LIBOR + 0.890%, 04/15/27 (144A) (c)		970,000		968,706
Asset-Backed - Other—(Continued)
Fremont Home Loan Trust 2.356%, 1M LIBOR + 0.140%, 02/25/37 (c)		2,542,057		2,005,567
Galaxy CLO, Ltd. 3.994%, 3M LIBOR + 1.680%, 11/15/26 (144A) (c)		430,000		425,512
GE-WMC Asset-Backed Pass-Through Certificates 2.466%, 1M LIBOR + 0.250%, 12/25/35 (c)		189,895		189,051
GE-WMC Mortgage Securities Trust 2.366%, 1M LIBOR + 0.150%, 08/25/36 (c)		7,244,974		4,638,832
Greystone Commercial Real Estate Notes, Ltd. 3.708%, 1M LIBOR + 1.550%, 03/15/27 (144A) (c)		400,000		402,499
Greywolf CLO, Ltd. 4.686%, 3M LIBOR + 2.350%, 01/17/27 (144A) (c)		320,000		320,060
Highbridge Loan Management, Ltd. 3.341%, 3M LIBOR + 1.000%, 02/05/31 (144A) (c)		1,390,000		1,383,723
4.439%, 3M LIBOR + 2.100%, 01/29/26 (144A) (c)		670,000		670,456
Home Equity Mortgage Loan Asset-Backed Trust 2.416%, 1M LIBOR + 0.200%, 07/25/37 (c)		1,157,992		758,004
Invitation Homes Trust 4.158%, 1M LIBOR + 2.000%, 03/17/37 (144A) (c)		520,000		522,106
4.158%, 1M LIBOR + 2.000%, 07/17/37 (144A) (c)		840,000		847,403
4.658%, 1M LIBOR + 2.500%, 03/17/37 (144A) (c)		410,000		412,548
KKR CLO, Ltd. 3.389%, 3M LIBOR + 1.050%, 07/15/27 (144A) (c)		1,540,000		1,540,000
Knollwood CDO, Ltd. 4.355%, 3M LIBOR + 3.200%, 01/10/39 (144A) (c) (g) (h) (j)		886,864		0
LCM, Ltd. 3.379%, 3M LIBOR + 1.040%, 10/20/27 (144A) (c)		1,010,000		1,010,000
3.418%, 3M LIBOR + 1.070%, 01/20/31 (144A) (c)		2,590,000		2,586,076
Legacy Mortgage Asset Trust 4.000%, 02/25/58 (144A) (c)		1,536,591		1,525,152
Lehman ABS Mortgage Loan Trust 2.306%, 1M LIBOR + 0.090%, 06/25/37 (144A) (c)		206,159		144,026
Lendmark Funding Trust 2.830%, 12/22/25 (144A)		5,270,000		5,240,086
Litigation Fee Residual Funding LLC 4.000%, 10/30/27 (144A)		2,700,547		2,687,044
LoanCore Issuer, Ltd. 3.288%, 1M LIBOR + 1.130%, 05/15/28 (144A) (c)		2,210,000		2,214,171
Long Beach Mortgage Loan Trust 2.326%, 1M LIBOR + 0.110%, 10/25/36 (c)		563,485		243,582
2.366%, 1M LIBOR + 0.150%, 06/25/36 (c)		629,063		365,631
2.376%, 1M LIBOR + 0.160%, 05/25/36 (c)		3,649,115		1,737,925
2.376%, 1M LIBOR + 0.160%, 10/25/36 (c)		2,239,062		973,000
2.376%, 1M LIBOR + 0.160%, 11/25/36 (c)		2,727,617		1,226,936
2.396%, 1M LIBOR + 0.180%, 05/25/46 (c)		2,060,168		875,634
2.406%, 1M LIBOR + 0.190%, 03/25/46 (c)		2,545,970		1,240,663
2.436%, 1M LIBOR + 0.220%, 02/25/36 (c)		1,978,318		1,917,597
2.436%, 1M LIBOR + 0.220%, 11/25/36 (c)		802,609		363,942
2.476%, 1M LIBOR + 0.260%, 05/25/36 (c)		2,534,106		1,227,263
2.506%, 1M LIBOR + 0.290%, 03/25/46 (c)		2,622,311		1,285,594
Madison Park Funding, Ltd. 3.292%, 3M LIBOR + 0.950%, 04/19/30 (144A) (c)		1,330,000		1,327,313
3.468%, 3M LIBOR + 1.120%, 07/20/26 (144A) (c)		11,135,000		11,135,312
3.537%, 3M LIBOR + 1.190%, 10/21/30 (144A) (c)		5,000,000		5,004,720
3.539%, 3M LIBOR + 1.200%, 07/29/30 (144A) (c)		2,450,000		2,454,165

BHFTII-23

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Marathon CLO, Ltd. 3.308%, 1M LIBOR + 1.150%, 06/15/28 (144A) (c)		510,000	$	509,997
Marble Point CLO, Ltd. 3.513%, 3M LIBOR + 1.180%, 12/18/30 (144A) (c)		830,000		829,154
Merrill Lynch First Franklin Mortgage Loan Trust 2.456%, 1M LIBOR + 0.240%, 05/25/37 (c)		11,032,553		7,650,969
Mountain Hawk II CLO, Ltd. 3.948%, 3M LIBOR + 1.600%, 07/20/24 (144A) (c)		1,138,000		1,130,546
MP CLO, Ltd. 3.598%, 3M LIBOR + 1.250%, 10/20/30 (144A) (c)		1,010,000		1,010,513
Neuberger Berman Loan Advisers CLO, Ltd. 3.503%, 3M LIBOR + 1.170%, 10/18/30 (144A) (c)		1,770,000		1,770,740
Nomura Asset Acceptance Corp. Alternative Loan Trust 2.616%, 1M LIBOR + 0.400%, 10/25/36 (144A) (c)		358,870		320,675
Northwoods Capital XVII, Ltd. 3.308%, 3M LIBOR + 1.060%, 04/22/31 (144A) (c)		3,360,000		3,354,113
OCP CLO, Ltd. 3.155%, 3M LIBOR + 0.820%, 10/26/27 (144A) (c)		270,000		269,856
3.186%, 3M LIBOR + 0.850%, 04/17/27 (144A) (c)		1,263,000		1,259,651
3.415%, 3M LIBOR + 1.080%, 04/26/31 (144A) (c)		160,000		159,170
3.599%, 3M LIBOR + 1.260%, 07/15/30 (144A) (c)		3,270,000		3,279,463
3.903%, 3M LIBOR + 1.570%, 10/18/28 (144A) (c)		540,000		539,999
4.272%, 3M LIBOR + 1.950%, 11/20/30 (144A) (c)		250,000		248,308
Octagon Investment Partners, Ltd. 3.212%, 3M LIBOR + 0.900%, 05/21/27 (144A) (c)		4,670,000		4,664,489
3.299%, 3M LIBOR + 0.960%, 04/16/31 (144A) (c)		2,210,000		2,192,762
3.335%, 3M LIBOR + 1.000%, 01/25/31 (144A) (c)		3,420,000		3,415,759
3.356%, 3M LIBOR + 1.020%, 07/17/30 (144A) (c)		5,600,000		5,573,260
3.538%, 3M LIBOR + 1.190%, 01/20/31 (144A) (c)		430,000		430,215
3.662%, 3M LIBOR + 1.350%, 05/21/27 (144A) (c)		3,090,000		3,090,192
OFSI Fund, Ltd. 3.469%, 3M LIBOR + 1.130%, 03/20/25 (144A) (c)		4,190,000		4,189,015
OHA Loan Funding, Ltd. 3.350%, 3M LIBOR + 1.040%, 05/23/31 (144A) (c)		5,670,000		5,651,879
OneMain Financial Issuance Trust 4.100%, 03/20/28 (144A)		312,622		314,271
4.320%, 07/18/25 (144A)		3,100,000		3,112,813
OZLM Funding, Ltd. 3.597%, 3M LIBOR + 1.250%, 10/22/30 (144A) (c)		10,705,000		10,709,550
5.347%, 3M LIBOR + 3.000%, 01/22/29 (144A) (c)		3,950,000		3,964,714
OZLM, Ltd. 3.559%, 3M LIBOR + 1.220%, 11/22/30 (144A) (c)		690,000		692,452
3.838%, 3M LIBOR + 1.490%, 01/20/29 (144A) (c)		1,950,000		1,951,831
4.039%, 3M LIBOR + 1.700%, 01/15/29 (144A) (c)		2,570,000		2,547,859
4.248%, 3M LIBOR + 1.900%, 01/20/31 (144A) (c)		320,000		317,818
4.448%, 3M LIBOR + 2.100%, 01/20/29 (144A) (c)		810,000		811,707
5.898%, 3M LIBOR + 3.550%, 01/20/27 (144A) (c)		1,720,000		1,720,268
Palmer Square CLO, Ltd. 3.208%, 3M LIBOR + 1.030%, 04/18/31 (144A) (c)		1,040,000		1,032,446
3.466%, 3M LIBOR + 1.130%, 01/17/31 (144A) (c)		1,312,000		1,312,319
3.556%, 3M LIBOR + 1.220%, 10/17/27 (144A) (c)		780,000		780,000
3.685%, 3M LIBOR + 1.350%, 08/15/26 (144A) (c)		945,000		938,811
4.586%, 3M LIBOR + 2.250%, 10/17/27 (144A) (c)		360,000		360,079
Palmer Square Loan Funding, Ltd. 3.079%, 3M LIBOR + 0.740%, 10/15/25 (144A) (c)		2,922,967		2,912,278
Asset-Backed - Other—(Continued)
Parallel Ltd. 4.098%, 3M LIBOR + 1.750%, 07/20/27 (144A) (c)		350,000		349,969
Pretium Mortgage Credit Partners LLC 3.250%, 03/28/57 (144A)		1,049,598		1,044,395
Progress Residential Trust 2.740%, 06/12/32 (144A)		1,110,732		1,094,956
2.768%, 08/17/34 (144A)		927,022		893,791
3.565%, 08/17/34 (144A)		120,000		116,797
4.261%, 08/17/34 (144A)		180,000		177,548
4.380%, 03/17/35 (144A)		250,000		246,646
4.778%, 03/17/35 (144A)		120,000		118,177
5.708%, 1M LIBOR + 3.550%, 01/17/34 (144A) (c)		650,000		654,907
6.643%, 11/12/32 (144A)		250,000		258,089
PRPM LLC 4.250%, 01/25/22 (144A)		124,515		124,459
Race Point CLO, Ltd. 3.549%, 3M LIBOR + 1.210%, 10/15/30 (144A) (c)		1,170,000		1,175,656
RAMP Trust 2.386%, 1M LIBOR + 0.170%, 02/25/37 (c)		728,090		393,623
2.486%, 1M LIBOR + 0.270%, 11/25/36 (c)		2,351,453		1,980,365
Rockford Tower CLO, Ltd. 3.538%, 3M LIBOR + 1.190%, 10/20/30 (144A) (c)		2,590,000		2,589,997
3.709%, 3M LIBOR + 1.370%, 04/15/29 (144A) (c)		3,550,000		3,554,210
4.089%, 3M LIBOR + 1.750%, 10/15/29 (144A) (c)		1,590,000		1,592,436
4.139%, 3M LIBOR + 1.800%, 04/15/29 (144A) (c)		1,500,000		1,504,061
4.639%, 3M LIBOR + 2.300%, 10/15/29 (144A) (c)		310,000		311,592
RR 3, Ltd. 3.429%, 3M LIBOR + 1.090%, 01/15/30 (144A) (c)		3,630,000		3,619,005
SG Mortgage Securities Trust 2.426%, 1M LIBOR + 0.210%, 10/25/36 (c)		570,000		449,401
Silver Creek CLO, Ltd. 3.588%, 3M LIBOR + 1.240%, 07/20/30 (144A) (c)		1,330,000		1,331,246
Sound Point CLO II, Ltd. 3.405%, 3M LIBOR + 1.070%, 01/26/31 (144A) (c)		500,000		497,436
Sound Point CLO, Ltd. 3.877%, 3M LIBOR + 1.530%, 01/23/29 (144A) (c)		3,080,000		3,082,917
4.008%, 3M LIBOR + 1.660%, 10/20/28 (144A) (c)		1,240,000		1,240,098
Soundview Home Loan Trust 3.011%, 1M LIBOR + 0.795%, 01/25/35 (c)		24,775		23,374
SpringCastle America Funding LLC 3.050%, 04/25/29 (144A)		3,100,920		3,087,265
Springleaf Funding Trust 3.620%, 11/15/24 (144A)		2,062,000		2,056,227
Stanwich Mortgage Loan Co. LLC 3.598%, 05/17/22 (144A)		4,191,966		4,172,976
3.721%, 08/16/46 (144A)		848,628		848,864
Steele Creek CLO, Ltd. 3.589%, 3M LIBOR + 1.250%, 01/15/30 (144A) (c)		670,000		670,082
Symphony CLO, Ltd. 3.369%, 3M LIBOR + 1.030%, 10/15/25 (144A) (c)		8,603,924		8,603,984
TCI-Flatiron CLO,Ltd. 3.512%, 3M LIBOR + 1.200%, 11/17/30 (144A) (c)		1,080,000		1,081,272
TIAA CLO, Ltd. 3.489%, 3M LIBOR + 1.150%, 01/16/31 (144A) (c)		571,000		570,132
3.628%, 3M LIBOR + 1.280%, 04/20/29 (144A) (c)		900,000		901,431

BHFTII-24

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Tricon American Homes Trust 4.564%, 05/17/37 (144A)		260,000	$	255,606
4.960%, 05/17/37 (144A)		180,000		177,492
5.104%, 01/17/36 (144A)		340,000		342,375
Velocity Commercial Capital Loan Trust 3.466%, 1M LIBOR + 1.250%, 05/25/47 (144A) (c)		1,059,533		1,066,145
3.550%, 05/25/47 (144A) (c)		150,000		146,067
3.661%, 10/25/46 (144A) (c)		150,000		151,052
4.016%, 1M LIBOR + 1.800%, 10/25/46 (144A) (c)		374,486		378,981
4.240%, 11/25/47 (144A) (c)		237,054		230,704
4.450%, 05/25/47 (144A) (c)		150,000		148,334
4.458%, 10/25/46 (144A) (c)		100,000		99,685
5.000%, 11/25/47 (144A) (c)		138,537		134,573
5.350%, 05/25/47 (144A) (c)		150,000		152,754
5.498%, 10/25/46 (144A) (c)		140,000		141,333
7.226%, 10/25/46 (144A) (c)		160,000		164,578
Venture CLO, Ltd. 3.403%, 3M LIBOR + 1.070%, 07/15/31 (144A) (c)		420,000		418,639
3.709%, 3M LIBOR + 1.370%, 01/15/27 (144A) (c)		890,000		889,658
Vibrant CLO, Ltd. 3.828%, 3M LIBOR + 1.480%, 04/20/26 (144A) (c)		570,000		570,210
3.898%, 3M LIBOR + 1.550%, 01/20/29 (144A) (c)		1,020,000		1,023,281
4.398%, 3M LIBOR + 2.050%, 04/20/26 (144A) (c)		290,000		290,070
Voya CLO, Ltd. 3.305%, 3M LIBOR + 0.970%, 04/25/31 (144A) (c)		1,780,000		1,766,899
3.469%, 3M LIBOR + 1.130%, 10/15/30 (144A) (c)		1,020,000		1,020,195
Washington Mutural Asset-Backed Certificates Trust 2.371%, 1M LIBOR + 0.155%, 10/25/36 (c)		935,015		806,573
2.396%, 1M LIBOR + 0.180%, 09/25/36 (c)		2,252,884		1,123,390
2.436%, 1M LIBOR + 0.220%, 02/25/37 (c)		2,235,254		1,015,990
Wellfleet CLO, Ltd. 3.668%, 3M LIBOR + 1.320%, 04/20/29 (144A) (c)		850,000		850,705
West CLO, Ltd. 3.503%, 3M LIBOR + 1.160%, 11/07/25 (144A) (c)		1,646,693		1,646,233
York CLO, Ltd. 3.497%, 3M LIBOR + 1.150%, 01/22/31 (144A) (c)		1,520,000		1,519,611
3.598%, 3M LIBOR + 1.250%, 10/20/29 (144A) (c)		630,000		630,200
4.098%, 3M LIBOR + 1.750%, 10/20/29 (144A) (c)		850,000		850,457
				383,012,540
Asset-Backed - Student Loan—0.5%
Navient Private Education Loan Trust 3.500%, 12/16/58 (144A) (c)		970,000		936,712
3.908%, 1M LIBOR + 1.750%, 10/17/44 (144A) (c)		4,595,000		4,660,486
Scholar Funding Trust 2.892%, 1M LIBOR + 0.650%, 01/30/45 (144A) (c)		4,511,394		4,487,175
SLM Private Credit Student Loan Trust 2.664%, 3M LIBOR + 0.330%, 03/15/24 (c)		3,196,590		3,193,593
SLM Private Education Loan Trust 2.500%, 03/15/47 (144A)		720,000		715,181
3.000%, 05/16/44 (144A)		970,000		965,108
3.558%, 1M LIBOR + 1.400%, 10/15/31 (144A) (c)		1,295,416		1,303,577
Asset-Backed - Student Loan—(Continued)
SMB Private Education Loan Trust 3.500%, 12/17/40 (144A)		1,340,000		1,304,339
				17,566,171
Total Asset-Backed Securities (Cost $450,206,291)				456,067,699
Municipals—6.6%
Adams & Weld Counties School District No. 27J 5.000%, 12/01/42		500,000		563,775
American Municipal Power, Inc., Build America Bonds 6.449%, 02/15/44		355,000		449,679
7.834%, 02/15/41		425,000		608,073
Anne Arundel County 5.000%, 10/01/47		500,000		566,950
Arizona Health Facilities Authority 2.376%, 01/01/37 (c)		780,000		741,125
Arizona State University 5.000%, 07/01/43		330,000		372,039
Atlanta GA Water & Wastewater Revenue 5.000%, 11/01/41		760,000		861,278
Series B 5.000%, 11/01/47		500,000		563,705
Aurora, CO Water Revenue 5.000%, 08/01/41		1,020,000		1,139,503
5.000%, 08/01/46		1,190,000		1,329,420
Austin TX Water & Wastewater System Rev. 5.000%, 11/15/43		500,000		550,530
Bay Area Toll Bridge Authority, Build America Bonds 6.918%, 04/01/40		1,575,000		2,115,162
7.043%, 04/01/50		1,865,000		2,732,094
Berks County Industrial Development Authority 5.000%, 11/01/47		510,000		550,917
5.000%, 11/01/50		480,000		516,610
Buckeye Tobacco Settlement Financing Authority 5.875%, 06/01/47		2,100,000		2,099,979
Buena Park School District 5.000%, 08/01/47		260,000		292,971
California Health Facilities Financing Authority 5.000%, 08/15/33		495,000		570,290
Series A 5.000%, 08/15/47		500,000		547,955
California Infrastructure & Economic Development Bank 5.000%, 05/15/47		220,000		249,438
5.000%, 05/15/52		220,000		248,281
California Pollution Control Financing Authority 5.000%, 11/21/45 (144A)		450,000		463,595
California State Public Works Board, Build America Bond 8.361%, 10/01/34		760,000		1,096,224
Central Puget Sound Regional Transit Authority 5.000%, 11/01/50		510,000		563,657
Central Texas Regional Mobility Authority 5.000%, 01/01/45		350,000		379,757
5.000%, 01/01/46		350,000		380,762

BHFTII-25

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
Chesapeake Bay Bridge & Tunnel District 5.000%, 07/01/41		360,000	$	401,519
5.000%, 07/01/51		275,000		297,336
City & County of Denver 5.000%, 08/01/48		610,000		676,136
Series A 5.000%, 08/01/44		850,000		944,622
City of Cartersville GA 5.000%, 06/01/48		510,000		575,816
City of Columbia SC Waterworks & Sewer System Revenue 5.000%, 02/01/42		390,000		444,198
5.000%, 02/01/48		420,000		476,200
City of New York NY 5.000%, 04/01/40		740,000		835,416
5.000%, 04/01/45		600,000		674,772
Clark County School District 5.000%, 06/15/30		540,000		618,079
5.000%, 06/15/31		570,000		649,361
5.000%, 06/15/33		630,000		712,688
Series A 5.000%, 06/15/34		600,000		676,104
Colorado Health Facilities Authority 5.250%, 02/01/31		325,000		339,833
Colorado Springs CO Utilities System Revenue 5.000%, 11/15/42		260,000		293,899
Commonwealth Financing Authority 4.144%, 06/01/38		730,000		716,685
Series A 3.864%, 06/01/38		720,000		693,598
Commonwealth of Massachusetts 5.000%, 11/01/42		620,000		700,030
5.000%, 11/01/45		540,000		608,348
Series A 5.000%, 01/01/45		700,000		788,788
Commonwealth of Massachusetts Transportation Fund Revenue 5.000%, 06/01/48		1,030,000		1,167,453
Commonwealth of Puerto Rico 8.000%, 07/01/35 (f)		5,000,000		2,893,750
Connecticut State Health & Educational Facility Authority 5.000%, 07/01/45		1,640,000		1,755,075
County of Clark NV Series A 5.000%, 06/01/43		960,000		1,084,723
5.000%, 05/01/48		1,405,000		1,581,384
County of Franklin OH Sales Tax Revenue 5.000%, 06/01/43		460,000		526,286
5.000%, 06/01/48		900,000		1,025,685
County of King WA Sewer Revenue 5.000%, 07/01/42		320,000		361,024
5.000%, 07/01/47		520,000		573,212
Dallas Area Rapid Transit 5.000%, 12/01/41		680,000		758,703
5.000%, 12/01/46		920,000		1,023,362
Denton Independent School District 5.000%, 08/15/43		780,000		875,472
Denver City & County, CO Airport System Revenue 5.000%, 11/15/29		380,000		431,463
Denver City & County, CO Airport System Revenue 5.000%, 11/15/30		305,000		345,022
District of Columbia Water & Sewer Authority 5.000%, 10/01/49		420,000		475,612
Dutchess County Local Development Corp. 5.000%, 07/01/46		1,025,000		1,108,958
Grand Parkway Transportation Corp. 5.000%, 10/01/43		1,470,000		1,653,191
Grant County Public Utility District No. 2 4.584%, 01/01/40		315,000		320,604
Great Lakes Water Authority Water Supply System Revenue 5.250%, 07/01/33		150,000		172,610
Indiana Housing & Community Development Authority 3.800%, 07/01/38		260,000		259,272
JobsOhio Beverage System 3.985%, 01/01/29		835,000		838,824
Kentucky Economic Development Finance Authority 5.250%, 06/01/50		330,000		347,391
Las Vegas Valley Water District 5.000%, 06/01/46		300,000		332,772
Lexington County Health Services District, Inc. 5.000%, 11/01/41		300,000		320,049
Long Beach, CA Harbor Revenue 5.000%, 05/15/47		580,000		660,423
Los Angeles County Metropolitan Transportation Authority 5.000%, 07/01/42		850,000		971,465
Los Angeles Department of Water & Power Power System Revenue 6.574%, 07/01/45		395,000		543,192
Los Angeles, CA Community College District, Build America Bond 6.600%, 08/01/42		2,280,000		3,139,606
Los Angeles, CA Department of Water & Power Revenue, Build America Bond 6.603%, 07/01/50		565,000		792,011
Los Angeles, CA Unified School District, Build America Bond 6.758%, 07/01/34		640,000		822,650
Maryland Stadium Authority 5.000%, 05/01/41		460,000		509,781
Massachusetts Bay Transportation Authority 5.000%, 07/01/39		320,000		360,765
5.000%, 07/01/40		340,000		382,765
5.000%, 07/01/41		360,000		404,989
5.000%, 07/01/42		370,000		415,939
5.000%, 07/01/43		300,000		337,005
Massachusetts Development Finance Agency 5.000%, 07/01/43		680,000		734,971
5.000%, 09/01/45		290,000		320,714
5.000%, 07/01/47		500,000		544,460
5.000%, 07/01/48		1,280,000		1,378,112
5.000%, 07/01/53		720,000		772,193
Massachusetts Educational Financing Authority 5.000%, 01/01/22		500,000		539,385
Massachusetts Housing Finance Agency 4.500%, 12/01/39		265,000		271,861
4.500%, 12/01/48		340,000		348,255
4.600%, 12/01/44		285,000		292,490

BHFTII-26

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
Massachusetts Port Authority 5.000%, 07/01/43		460,000	$	502,854
Massachusetts School Building Authority 5.250%, 02/15/48		770,000		882,782
Massachusetts Water Resources Authority 5.000%, 08/01/40		270,000		303,018
Mesquite, TX Independent School District 5.000%, 08/15/42		570,000		635,818
Metropolitan Atlanta Rapid Transit Authority Series A 5.000%, 07/01/41		510,000		564,310
5.000%, 07/01/42		510,000		563,984
Series B 5.000%, 07/01/45		400,000		446,420
Metropolitan Government of Nashville & Davidson County, Health & Educational Facilities Board 5.000%, 07/01/46		690,000		747,001
Metropolitan St. Louis Sewer District 5.000%, 05/01/42		710,000		804,643
Series A 5.000%, 05/01/47		650,000		733,005
Metropolitan Transportation Authority 5.000%, 11/15/42		670,000		751,083
5.250%, 11/15/57		820,000		919,466
Metropolitan Transportation Authority, Build America Bonds 6.668%, 11/15/39		170,000		220,289
6.687%, 11/15/40		590,000		772,345
6.814%, 11/15/40		1,005,000		1,325,113
Metropolitan Washington Airports Authority 5.000%, 10/01/32		890,000		997,583
5.000%, 10/01/43		790,000		877,966
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Build America Bond 7.462%, 10/01/46		560,000		797,944
Miami-Dade County, FL 5.000%, 07/01/35		345,000		388,053
Miami-Dade County, FL Aviation Revenue 2.504%, 10/01/24		1,000,000		941,250
3.354%, 10/01/29		195,000		184,363
3.454%, 10/01/30		355,000		334,485
3.504%, 10/01/31		330,000		310,520
5.000%, 10/01/38		1,025,000		1,113,068
5.000%, 10/01/40		500,000		549,360
Series C 4.062%, 10/01/31		495,000		486,060
Miami-Dade County, FL Educational Facilities Authority 5.000%, 04/01/53		1,090,000		1,189,833
5.073%, 04/01/50		655,000		715,208
Series A 5.000%, 04/01/48		530,000		582,523
Michigan Finance Authority 5.000%, 11/15/41		330,000		360,320
5.000%, 12/01/47		1,810,000		1,936,718
Michigan State Housing Development Authority 3.550%, 10/01/33		300,000		295,194
4.000%, 10/01/43		290,000		289,545
4.050%, 10/01/48		140,000		139,758
Michigan State Housing Development Authority 4.150%, 10/01/53		690,000		688,730
Mississippi State Hospital Equipment & Facilities Authority, Baptist Memorial Health Care 5.000%, 09/01/46		630,000		663,182
Missouri State Health & Educational Facilities Authority Revenue 3.652%, 08/15/57		1,495,000		1,379,706
5.000%, 11/15/29		340,000		383,775
Municipal Electric Authority of Georgia, Build America Bond 6.637%, 04/01/57		1,000,000		1,179,580
New Jersey State Turnpike Authority, Build America Bond 7.414%, 01/01/40		1,451,000		2,076,076
New Jersey Transportation Trust Fund Authority 5.000%, 06/15/29		380,000		419,794
New Orleans Aviation Board 5.000%, 01/01/40		530,000		569,310
New York City Housing Development Corp 3.700%, 11/01/38		320,000		313,760
3.850%, 11/01/43		950,000		940,918
4.000%, 11/01/53		1,010,000		998,688
New York City Transitional Finance Authority Building Aid Revenue 5.000%, 07/15/40		370,000		407,237
New York City Transitional Finance Authority Future Tax Secured Revenue 3.050%, 05/01/27		1,670,000		1,582,074
3.550%, 05/01/25		1,475,000		1,462,772
5.000%, 08/01/31		190,000		217,191
5.000%, 02/01/35		410,000		458,716
5.000%, 05/01/36		390,000		436,355
New York City Water & Sewer System 5.000%, 06/15/39		1,070,000		1,212,321
5.000%, 06/15/40		770,000		872,418
5.000%, 06/15/47		985,000		1,099,930
5.375%, 06/15/43		2,360,000		2,518,592
5.500%, 06/15/43		2,825,000		3,023,654
5.882%, 06/15/44		1,150,000		1,458,844
New York City Water & Sewer System, Build America Bonds 5.440%, 06/15/43		505,000		606,853
5.750%, 06/15/41		675,000		836,872
New York Convention Center Development Corp. 5.000%, 11/15/40		370,000		407,141
5.000%, 11/15/46		920,000		1,020,197
New York State Dormitory Authority 5.000%, 02/15/31		330,000		376,939
5.000%, 03/15/32		580,000		656,577
5.000%, 02/15/36		620,000		702,491
5.000%, 02/15/37		360,000		406,714
5.000%, 02/15/38		330,000		372,821
5.000%, 02/15/39		330,000		371,201
5.000%, 03/15/39		810,000		919,617
5.000%, 02/15/40		380,000		426,512
5.000%, 02/15/41		620,000		695,386
5.000%, 02/15/42		840,000		941,447
5.000%, 02/15/43		540,000		604,778

BHFTII-27

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
New York State Dormitory Authority
Series A 5.000%, 03/15/43		1,050,000	$	1,181,315
5.000%, 03/15/41		530,000		600,347
5.000%, 03/15/42		530,000		599,886
5.000%, 10/01/48		335,000		424,941
Series B 5.000%, 10/01/38		830,000		958,882
New York State Dormitory Authority, Build America Bond 5.389%, 03/15/40		1,075,000		1,262,534
New York State Urban Development Corp. 2.860%, 03/15/24		2,030,000		1,974,764
3.120%, 03/15/25		980,000		953,197
3.320%, 03/15/29		1,285,000		1,235,682
New York Transportation Development Corp. 5.000%, 07/01/46		340,000		358,176
5.250%, 01/01/50		2,060,000		2,192,005
North Carolina Department of Transportation 5.000%, 06/30/54		1,000,000		1,057,940
Ohio Turnpike & Infrastructure Commission 5.000%, 02/15/48		550,000		595,650
Omaha Public Power District 5.000%, 02/01/42		600,000		681,084
Orange County Local Transportation Authority, Build America Bond 6.908%, 02/15/41		1,420,000		1,868,507
Oregon School Boards Association 4.759%, 06/30/28		1,740,000		1,837,196
5.490%, 06/30/23		1,410,000		1,542,921
Pennsylvania Economic Development Financing Authority 5.000%, 12/31/38		510,000		544,695
Pennsylvania State University 5.000%, 09/01/43		360,000		410,400
5.000%, 09/01/48		420,000		476,519
Pennsylvania Turnpike Commission Series A 5.000%, 12/01/48		3,300,000		3,684,219
Series B 5.000%, 12/01/43		1,010,000		1,114,040
Permanent University Fund - University of Texas System 3.376%, 07/01/47		1,220,000		1,112,933
Port Authority of New York & New Jersey 4.458%, 10/01/62		1,435,000		1,487,047
4.810%, 10/15/65		720,000		785,844
4.960%, 08/01/46		1,910,000		2,132,591
5.000%, 11/15/47		290,000		319,180
Port of Seattle 5.000%, 05/01/43		260,000		285,048
Public Power Generation Agency Revenue 5.000%, 01/01/35		360,000		398,923
Regents of the University of California Medical Center Pooled Revenue, Build America Bonds 6.583%, 05/15/49		1,455,000		1,907,432
Series L 5.000%, 05/15/47		460,000		509,022
Riverside, CA, Electric Revenue, Buld America Bond 7.605%, 10/01/40		525,000		748,807
Royal Oak Hospital Finance Authority 5.000%, 09/01/39		450,000		485,546
Sacramento County Sanitation Districts Financing Authority 2.085%, 12/01/35 (c)		560,000		547,030
Salt Lake City Corp. Airport Revenue 5.000%, 07/01/47		1,510,000		1,660,314
Salt River Arizona Project Agricultural Improvement & Power District 5.000%, 01/01/36		520,000		599,784
Series A 5.000%, 12/01/45		1,870,000		2,074,036
San Antonio TX Electric & Gas Systems Revenue 5.000%, 02/01/48		250,000		269,415
San Antonio Water System 5.000%, 05/15/39		1,300,000		1,438,554
San Antonio, TX Electric & Gas Systems Revenue, Build Amereica Bond 5.808%, 02/01/41		470,000		583,373
San Diego County Regional Airport Authority 5.000%, 07/01/47		470,000		525,709
San Diego Public Facilities Financing Authority Sewer Revenue 5.000%, 05/15/39		475,000		541,695
San Diego Unified School District 5.000%, 07/01/41		780,000		893,389
San Francisco City & County Airport Comm-San Francisco International Airport 5.000%, 05/01/46		980,000		1,070,287
5.000%, 05/01/47		620,000		682,124
San Jose Redevelopment Agency Successor Agency 2.958%, 08/01/24		1,195,000		1,165,041
South Carolina Public Service Authority 2.388%, 12/01/23		1,085,000		1,008,442
5.000%, 12/01/49		700,000		731,878
5.000%, 12/01/50		700,000		735,126
State of California 2.250%, 10/01/23		2,125,000		2,029,269
4.600%, 04/01/38		3,690,000		3,828,006
State of California General Obligation Unlimited, Build America Bonds 7.300%, 10/01/39		860,000		1,200,741
7.350%, 11/01/39		550,000		772,414
7.500%, 04/01/34		1,125,000		1,555,571
7.550%, 04/01/39		1,375,000		2,006,922
State of Connecticut 3.310%, 01/15/26		1,445,000		1,391,058
State of District of Columbia 5.000%, 06/01/42		500,000		564,380
State of Illinois Series A 5.000%, 05/01/20		400,000		412,564
5.000%, 12/01/24		250,000		263,945
Series D 5.000%, 11/01/22		490,000		514,284
5.000%, 11/01/24		1,280,000		1,351,270
5.000%, 11/01/25		3,450,000		3,641,199
State of Illinois, General Obligation Unlimited 5.100%, 06/01/33		4,320,000		4,146,120

BHFTII-28

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
State of Minnesota Series A 5.000%, 08/01/31		390,000	$	463,644
5.000%, 08/01/32		490,000		580,209
5.000%, 08/01/34		490,000		574,701
5.000%, 08/01/35		500,000		583,645
State of Missouri 3.086%, 09/15/51		1,450,000		1,202,166
3.651%, 01/15/46		330,000		309,959
State of Ohio 5.000%, 05/01/30		460,000		523,682
5.000%, 03/15/32		930,000		1,039,768
5.000%, 05/01/34		420,000		472,214
5.000%, 05/01/35		420,000		470,879
5.000%, 05/01/36		1,015,000		1,134,740
5.000%, 05/01/37		760,000		846,777
State of Texas 5.000%, 04/01/40		380,000		425,543
5.000%, 04/01/43		610,000		680,955
State of Virginia 5.000%, 06/01/40		700,000		794,647
5.000%, 12/01/40		720,000		817,351
5.000%, 12/01/41		690,000		782,688
State of Washington General Obligation Unlimited 5.000%, 07/01/30		1,440,000		1,619,482
5.000%, 08/01/30		415,000		477,839
5.000%, 08/01/40		1,300,000		1,446,656
5.000%, 02/01/41		610,000		683,078
5.000%, 08/01/41		400,000		450,400
5.000%, 08/01/42		420,000		472,576
State of Wisconsin 3.154%, 05/01/27		1,220,000		1,170,187
5.000%, 05/01/32		340,000		383,789
5.000%, 05/01/33		310,000		348,936
5.000%, 11/01/33		420,000		484,495
5.000%, 05/01/34		400,000		449,728
5.000%, 05/01/36		490,000		549,359
5.000%, 05/01/38		500,000		559,935
Sumter Landing Community Development District 4.172%, 10/01/47		385,000		380,676
Tennessee Housing Development Agency 3.750%, 07/01/38		280,000		273,862
3.850%, 07/01/43		130,000		127,148
3.950%, 01/01/49		100,000		97,239
Texas Municipal Gas Acquisition & Supply Corp. I 6.250%, 12/15/26		280,000		321,891
Texas Private Activity Bond Surface Transportation Corp. 5.000%, 12/31/55		170,000		180,154
Texas Water Development Board 5.000%, 10/15/38		750,000		861,390
5.000%, 10/15/43		750,000		852,262
5.000%, 10/15/47		300,000		338,067
5.000%, 04/15/49		4,870,000		5,544,203
Tobacco Settlement Finance Authority 7.467%, 06/01/47		1,205,000		1,204,000
Tobacco Settlement Financing Corp. 6.706%, 06/01/46		275,000		272,608
TSASC, Inc. 5.000%, 06/01/41		560,000		598,097
University of California CA, Revenue 3.063%, 07/01/25		665,000		645,383
4.601%, 05/15/31		650,000		689,208
4.858%, 05/15/12		980,000		992,211
University of Houston 5.000%, 02/15/33		390,000		439,019
5.000%, 02/15/34		350,000		392,763
5.000%, 02/15/35		800,000		894,952
5.000%, 02/15/36		1,040,000		1,159,829
University of Oregon 5.000%, 04/01/46		380,000		420,998
University of Texas 2.756%, 05/15/26		1,810,000		1,715,916
2.836%, 05/15/27		805,000		760,081
Upper Arlington City School District 5.000%, 12/01/48		670,000		757,716
Virginia Small Business Financing Authority 5.000%, 12/31/52		710,000		756,519
5.000%, 12/31/56		720,000		766,080
Washington State Convention Center Public Facilities District 5.000%, 07/01/58		1,990,000		2,189,696
Water Revenue Authority of Georgia, Build America Bond 5.000%, 11/01/40		250,000		276,663
Weld County School District No. 2 5.250%, 12/01/41		560,000		640,153
West Virginia Hospital Finance Authority 5.000%, 06/01/19		365,000		372,150
5.000%, 06/01/20		390,000		406,949
5.000%, 06/01/21		390,000		415,689
5.000%, 06/01/22		425,000		461,809
5.000%, 06/01/23		355,000		392,019
5.000%, 06/01/24		375,000		419,378
Wisconsin Health & Educational Facilities Authority 5.000%, 12/15/44		310,000		328,259
Total Municipals (Cost $250,690,395)				245,899,455
Mortgage-Backed Securities—5.2%
Collateralized Mortgage Obligations—2.0%
Alternative Loan Trust 6.000%, 04/25/37		153,950		113,709
American Home Mortgage Assets Trust 2.765%, 12M MTA + 0.920%, 11/25/46 (c)		307,691		174,362
2.785%, 12M MTA + 0.940%, 10/25/46 (c)		536,883		493,373
APS Resecuritization Trust 4.816%, 1M LIBOR + 2.600%, 04/27/47 (144A) (c)		755,717		771,377
5.066%, 1M LIBOR + 2.850%, 09/27/46 (144A) (c)		2,924,265		3,030,229
Ari Investments LLC 4.480%, 01/06/25		1,058,114		1,058,114
Banc of America Alternative Loan Trust 5.500%, 10/25/35		1,223,610		1,217,428

BHFTII-29

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Bear Stearns Asset-Backed Securities Trust 6.250%, 12/25/35		2,536,244	$	2,469,225
6.250%, 02/25/36		2,984,838		2,636,441
Chase Mortgage Finance Trust 6.000%, 12/25/37		9,603,873		7,350,637
CIM Trust 3.015%, 06/25/57 (144A) (c)		5,711,287		5,588,648
COLT Funding LLC 5.216%, 1M LIBOR + 3.000%, 12/26/45 (144A) (c)		13,868		13,866
Countrywide Alternative Loan Trust 2.355%, 1M LIBOR + 0.190%, 03/20/47 (c)		1,905,940		1,633,656
2.356%, 1M LIBOR + 0.140%, 04/25/47 (c)		856,777		819,963
2.365%, 1M LIBOR + 0.200%, 07/20/46 (c)		3,034,536		2,358,534
2.406%, 1M LIBOR + 0.190%, 10/25/46 (c)		1,180,850		1,157,983
2.426%, 1M LIBOR + 0.210%, 07/25/46 (c)		1,571,544		1,564,829
2.446%, 1M LIBOR + 0.230%, 11/25/36 (c)		566,453		445,384
2.566%, 1M LIBOR + 0.350%, 06/25/35 (c)		1,641,709		1,485,823
2.816%, 1M LIBOR + 0.600%, 01/25/36 (c)		644,931		560,777
3.575%, 12M MTA + 1.730%, 11/25/46 (c)		3,349,182		2,935,999
5.500%, 04/25/37		922,673		744,185
6.000%, 05/25/37		3,414,659		2,483,409
Countrywide Home Loan Mortgage Pass-Through Trust 2.805%, 12M MTA + 0.960%, 04/25/46 (c)		4,127,042		2,176,488
Credit Suisse Mortgage Capital Certificates 2.425%, 1M LIBOR + 0.180%, 03/27/36 (144A) (c)		2,198,353		1,708,276
6.500%, 10/27/37 (144A)		2,615,084		1,590,343
CSFB Mortgage-Backed Pass-Through Certificates 3.566%, 1M LIBOR + 1.350%, 11/25/35 (c)		478,160		177,151
Deutsche ALT-A Securities Mortgage Loan Trust 2.366%, 1M LIBOR + 0.150%, 12/25/36 (c)		3,324,964		3,066,438
2.386%, 1M LIBOR + 0.170%, 08/25/47 (c)		588,468		400,391
Deutsche ALT-A Securities, Inc. Alternate Loan Trust 2.565%, 1M LIBOR + 0.500%, 01/27/37 (144A) (c)		154,751		147,571
GreenPoint Mortgage Funding Trust 3.845%, 12M MTA + 2.000%, 03/25/36 (c)		204,611		195,139
GSMPS Mortgage Loan Trust 2.566%, 1M LIBOR + 0.350%, 01/25/35 (144A) (c)		686,822		642,341
2.566%, 1M LIBOR + 0.350%, 03/25/35 (144A) (c)		827,435		773,744
2.566%, 1M LIBOR + 0.350%, 01/25/36 (144A) (c)		635,366		564,432
GSR Mortgage Loan Trust 6.000%, 07/25/37		756,156		683,549
IndyMac INDX Mortgage Loan Trust 3.725%, 09/25/37 (c)		897,550		634,363
JPMorgan Alternative Loan Trust 2.426%, 1M LIBOR + 0.210%, 03/25/37 (c)		1,307,716		1,207,316
4.014%, 05/25/37 (c)		321,207		288,504
JPMorgan Mortgage Trust 3.000%, 05/25/47 (144A) (c)		775,086		757,332
6.500%, 08/25/36		291,198		220,810
LSTAR Securities Investment, Ltd. 3.654%, 1M LIBOR + 1.550%, 02/01/23 (144A) (c)		2,567,310		2,525,778
MASTR Resecuritization Trust 2.500%, 08/25/37 (144A) (c)		504,984		349,914
Merrill Lynch Mortgage Investors Trust 3.746%, 05/25/36 (c)		1,699,240		1,564,391
Collateralized Mortgage Obligations—(Continued)
Mortgage Loan Resecuritization Trust 2.444%, 1M LIBOR + 0.340%, 04/16/36 (144A) (c)		3,951,491		3,372,622
Nomura Asset Acceptance Corp. Alternative Loan Trust 6.634%, 05/25/36		268,709		103,094
Nomura Resecuritization Trust 2.585%, 11/26/35 (144A) (c)		611,077		599,837
OBX Trust 4.000%, 04/25/48 (144A) (c)		1,902,168		1,896,165
Seasoned Credit Risk Transfer Trust Zero Coupon, 07/25/56 (144A) (k)		836,057		73,591
1.223%, 07/25/56 (144A) (c) (d)		1,106,935		113,452
4.750%, 07/25/56 (144A) (c) (j)		540,000		520,235
4.750%, 05/25/57 (144A) (c)		150,000		147,450
6.497%, 05/25/57 (c)		170,000		92,978
STACR Trust 2018-HRP1 3.866%, 1M LIBOR + 1.650%, 04/25/43 (144A) (c)		1,295,888		1,311,035
Structured Adjustable Rate Mortgage Loan Trust 3.777%, 04/25/36 (c)		400,443		337,407
3.851%, 04/25/47 (c)		1,141,027		890,826
Structured Asset Mortgage Investments Trust 2.406%, 1M LIBOR + 0.190%, 06/25/36 (c)		1,523,473		1,445,696
2.426%, 1M LIBOR + 0.210%, 05/25/46 (c)		277,894		238,195
2.446%, 1M LIBOR + 0.230%, 02/25/36 (c)		2,086,519		2,006,698
Structured Asset Securities Corp. Mortgage Loan Trust 6.000%, 10/25/36 (144A)		604,250		505,399
				74,436,902
Commercial Mortgage-Backed Securities—3.2%
AOA Mortgage Trust 3.110%, 12/13/29 (144A) (c)		460,000		445,638
AREIT Trust 2.984%, 1M LIBOR + 0.850%, 02/14/35 (144A) (c)		810,548		810,043
Ashford Hospitality Trust, Inc. 4.258%, 1M LIBOR + 2.100%, 04/15/35 (144A) (c)		640,000		642,295
Atrium Hotel Portfolio Trust 4.108%, 1M LIBOR + 1.950%, 12/15/36 (144A) (c)		1,810,000		1,816,787
5.208%, 1M LIBOR + 3.050%, 12/15/36 (144A) (c)		790,000		793,456
Aventura Mall Trust 3.867%, 12/05/32 (144A) (c)		1,030,000		1,043,743
BAMLL Commercial Mortgage Securities Trust 3.658%, 1M LIBOR + 1.500%, 11/15/32 (144A) (c)		300,000		300,000
3.716%, 04/14/33 (144A) (c)		850,000		787,766
3.727%, 08/14/34 (144A) (c)		2,470,000		2,223,228
4.158%, 1M LIBOR + 2.000%, 11/15/32 (144A) (c)		630,000		630,000
Banc of America Commercial Mortgage Trust 0.781%, 02/15/50 (c) (d)		4,070,000		186,691
1.438%, 02/15/50 (144A) (c) (d)		2,000,000		174,620
5.482%, 01/15/49 (c)		167,149		167,798
Bancorp Commercial Mortgage Trust (The) 2.913%, 1M LIBOR + 0.850%, 01/15/33 (144A) (c)		730,000		729,541
BANK 4.217%, 08/15/61		530,000		545,531
Bayview Commercial Asset Trust 2.466%, 1M LIBOR + 0.250%, 10/25/36 (144A) (c)		252,139		240,207
2.516%, 1M LIBOR + 0.300%, 01/25/36 (144A) (c)		139,847		134,591

BHFTII-30

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
Bayview Commercial Asset Trust 2.516%, 1M LIBOR + 0.300%, 10/25/36 (144A) (c)		256,563	$	245,011
2.576%, 1M LIBOR + 0.360%, 04/25/36 (144A) (c)		161,994		157,126
2.666%, 1M LIBOR + 0.450%, 01/25/36 (144A) (c)		104,109		99,638
2.666%, 1M LIBOR + 0.450%, 09/25/37 (144A) (c)		662,563		633,512
3.216%, 1M LIBOR + 1.000%, 10/25/37 (144A) (c)		133,499		133,377
3.716%, 1M LIBOR + 1.500%, 12/25/37 (144A) (c)		720,000		547,391
BB-UBS Trust 0.730%, 11/05/36 (144A) (c) (d)		85,480,000		2,913,244
4.160%, 11/05/36 (144A) (c)		330,000		307,840
BBCMS Mortgage Trust 2.880%, 1M LIBOR + 0.722%, 03/15/37 (144A) (c)		280,000		279,825
Benchmark Mortgage Trust 4.208%, 07/15/51		920,000		948,604
BHMS Mortgage Trust 3.408%, 1M LIBOR + 1.250%, 07/15/35 (144A) (c)		1,250,000		1,251,255
4.058%, 1M LIBOR + 1.900%, 07/15/35 (144A) (c)		270,000		270,025
BSPRT Issuer, Ltd. 2.978%, 1M LIBOR + 0.820%, 10/15/34 (144A) (c)		130,053		129,979
BWAY Mortgage Trust 3.446%, 03/10/33 (144A)		1,495,000		1,439,340
3.454%, 03/10/33 (144A)		2,690,000		2,653,575
3.633%, 03/10/33 (144A)		600,000		579,071
4.058%, 03/10/33 (144A) (c)		1,210,000		1,147,338
BXP Trust 3.670%, 08/13/37 (144A) (c)		1,640,000		1,480,843
CCRESG Commercial Mortgage Trust 5.671%, 04/10/29 (144A) (c)		230,000		233,487
CD Mortgage Trust 3.631%, 02/10/50		350,000		346,721
5.648%, 10/15/48		422,795		435,113
CFCRE Commercial Mortgage Trust 0.891%, 05/10/58 (c) (d)		2,370,000		113,771
1.899%, 05/10/58 (c) (d)		2,523,869		244,834
CGDBB Commercial Mortgage Trust 2.948%, 1M LIBOR + 0.790%, 07/15/32 (144A) (c)		1,490,000		1,492,103
3.758%, 1M LIBOR + 1.600%, 07/15/32 (144A) (c)		1,110,000		1,110,350
4.308%, 1M LIBOR + 2.150%, 07/15/32 (144A) (c)		1,680,000		1,679,737
Citigroup Commercial Mortgage Trust 2.788%, 04/10/49 (144A)		930,000		705,328
4.996%, 04/15/49 (c)		40,000		40,905
CLNS Trust 5.631%, 1M LIBOR + 3.500%, 06/11/32 (144A) (c)		665,000		668,741
Commercial Mortgage Pass-Through Certificates Mortgage Trust 0.168%, 02/10/35 (144A) (c) (d)		60,958,000		343,803
1.204%, 03/10/46 (c) (d)		25,360,694		773,915
2.933%, 1M LIBOR + 0.800%, 08/13/27 (144A) (c)		700,000		700,000
3.183%, 02/10/48		513,000		501,091
3.285%, 10/10/36 (144A) (c)		270,000		246,160
3.550%, 07/15/47		550,000		549,689
3.748%, 1M LIBOR + 1.600%, 02/13/32 (144A) (c)		1,280,000		1,282,399
3.796%, 08/10/47		540,000		546,401
3.807%, 05/10/48 (144A) (c)		730,000		720,596
3.977%, 05/10/47		1,394,000		1,423,115
4.006%, 04/10/47		400,000		409,079
4.051%, 04/10/47		1,896,000		1,941,989
Commercial Mortgage-Backed Securities—(Continued)
Commercial Mortgage Pass-Through Certificates Mortgage Trust 4.236%, 02/10/47 (c)		320,000		331,043
4.398%, 1M LIBOR + 2.250%, 02/13/32 (144A) (c)		550,000		553,437
4.453%, 07/10/48 (c)		1,600,000		1,569,214
4.562%, 12/10/47 (c)		420,000		406,224
4.696%, 08/10/48 (c)		1,256,000		1,232,300
5.398%, 1M LIBOR + 3.250%, 02/13/32 (144A) (c)		50,000		50,375
5.870%, 06/10/44 (144A) (c)		190,000		192,914
Commercial Mortgage Trust 3.807%, 05/10/48 (144A) (c)		1,740,000		1,726,141
4.122%, 1M LIBOR + 1.964%, 08/15/35 (144A) (c)		690,000		684,604
4.739%, 1M LIBOR + 2.581%, 08/15/35 (144A) (c)		630,000		624,374
Core Industrial Trust 3.077%, 02/10/34 (144A)		1,975,068		1,956,791
3.977%, 02/10/34 (144A) (c)		2,360,000		2,292,523
Credit Suisse First Boston Mortgage Securities Corp. 4.952%, 07/15/37 (c)		70,000		71,685
5.234%, 10/15/39 (144A) (c)		250,000		250,955
Credit Suisse Mortgage Capital Certificates 3.108%, 1M LIBOR + 0.950%, 12/15/30 (144A) (c)		280,000		280,086
Credit Suisse Mortgage Capital Certificates Trust 3.758%, 1M LIBOR + 1.600%, 11/15/33 (144A) (c)		201,070		202,022
CSAIL Commercial Mortgage Trust 0.220%, 11/15/50 (c) (d)		3,940,000		64,923
DBJPM Mortgage Trust 1.000%, 06/10/50 (144A) (c) (d)		2,060,000		131,648
3.634%, 08/10/49 (144A) (c)		698,000		593,307
DBUBS Mortgage Trust 3.452%, 10/10/34 (144A)		850,000		839,606
3.648%, 10/10/34 (144A) (c)		1,710,000		1,567,845
Eleven Madison Trust Mortgage Trust 3.673%, 09/10/35 (144A) (c)		440,000		436,608
GAHR Commercial Mortgage Trust 3.495%, 12/15/34 (144A) (c)		880,000		870,748
3.613%, 1M LIBOR + 1.300%, 12/15/34 (144A) (c)		149,089		149,136
GPMT, Ltd. 3.082%, 1M LIBOR + 0.900%, 11/21/35 (144A) (c)		869,000		869,000
GS Mortgage Securities Corp. 3.550%, 12/10/27 (144A) (c)		11,042,358		10,882,432
GS Mortgage Securities Corp. II 4.508%, 1M LIBOR + 2.350%, 02/15/37 (144A) (c)		230,000		231,798
5.366%, 05/03/32 (144A)		840,000		919,211
GS Mortgage Securities Corp. Trust 2.856%, 05/10/34 (144A)		710,000		692,671
3.458%, 1M LIBOR + 1.300%, 07/15/32 (144A) (c)		80,000		80,125
3.658%, 1M LIBOR + 1.500%, 07/15/32 (144A) (c)		170,000		170,317
3.958%, 1M LIBOR + 1.800%, 07/15/32 (144A) (c)		70,000		70,196
4.658%, 1M LIBOR + 2.500%, 07/15/32 (144A) (c)		30,000		30,112
GS Mortgage Securities Trust 3.000%, 08/10/50 (144A)		240,000		203,473
3.345%, 07/10/48		180,650		155,261
3.931%, 09/10/47		800,000		813,951
4.529%, 04/10/47 (c)		50,000		49,368
4.558%, 07/10/48 (c)		500,000		491,380
4.846%, 06/10/47 (144A) (c)		64,000		59,305

BHFTII-31

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
Hilton Orlando Trust 4.808%, 1M LIBOR + 2.650%, 12/15/34 (144A) (c)		780,000	$	782,926
HMH Trust 3.062%, 07/05/31 (144A)		1,210,000		1,169,129
IMT Trust 3.478%, 06/15/34 (144A)		540,000		534,202
3.613%, 06/15/34 (144A) (c)		570,000		545,325
JPMBB Commercial Mortgage Securities Trust 0.965%, 05/15/48 (c) (d)		1,174,214		35,718
1.038%, 09/15/47 (c) (d)		2,800,706		112,064
3.775%, 08/15/47		550,000		554,953
3.801%, 09/15/47		220,000		222,082
4.271%, 12/15/48 (144A) (c)		300,000		288,273
JPMCC Commercial Mortgage Securities Trust 4.050%, 09/15/50		110,000		108,938
4.802%, 03/15/50 (144A) (c)		650,000		631,491
JPMDB Commercial Mortgage Securities Trust 0.750%, 12/15/49 (144A) (c) (d)		2,067,000		102,552
JPMorgan Chase Commercial Mortgage Securities Trust 0.646%, 04/15/46 (c) (d)		4,900,000		109,729
0.750%, 08/15/49 (144A) (c) (d)		5,300,000		251,942
0.940%, 12/15/49 (c) (d)		986,609		39,284
2.949%, 10/06/38 (144A) (c)		1,670,000		1,565,176
3.458%, 1M LIBOR + 1.300%, 06/15/45 (144A) (c)		130,000		133,213
4.400%, 01/15/49 (c)		970,000		917,462
4.900%, 01/15/49 (c)		1,785,000		1,823,643
5.158%, 1M LIBOR + 3.000%, 02/15/35 (144A) (c)		480,000		482,700
6.325%, 08/12/40 (144A) (c)		99,682		101,203
Lehman Brothers Small Balance Commercial Mortgage Trust 2.466%, 1M LIBOR + 0.250%, 03/25/37 (144A) (c)		608,968		585,193
Lone Star Portfolio Trust 4.208%, 1M LIBOR + 1.800%, 09/15/28 (144A) (c)		33,562		33,593
LSTAR Commercial Mortgage Trust 1.270%, 03/10/50 (144A) (c) (d)		891,428		41,986
Madison Avenue Trust 4.169%, 10/12/32 (144A) (c)		998,000		997,366
Merrill Lynch Mortgage Trust 6.527%, 09/12/42 (144A) (c)		490,000		503,909
Morgan Stanley Bank of America Merrill Lynch Trust 1.335%, 12/15/47 (144A) (c) (d)		1,810,000		106,879
1.586%, 11/15/49 (c) (d)		1,097,832		89,825
3.060%, 10/15/48 (144A)		730,000		628,522
3.068%, 10/15/48		850,000		739,206
3.892%, 06/15/47		3,000,000		3,040,743
4.270%, 07/15/50 (144A) (c)		700,000		629,389
4.558%, 05/15/50 (c)		300,000		296,487
4.679%, 10/15/48 (c)		170,000		169,195
Morgan Stanley Capital Trust 2.360%, 06/15/50 (144A) (c) (d)		1,190,000		183,334
2.546%, 06/15/50 (144A)		1,510,000		1,202,701
3.560%, 07/13/29 (144A) (c)		540,000		519,903
4.108%, 1M LIBOR + 1.950%, 11/15/34 (144A) (c)		330,000		331,031
4.165%, 05/15/48 (144A) (c)		110,000		98,225
4.165%, 05/15/48 (c)		150,000		143,171
4.177%, 07/15/51		470,000		481,470
4.281%, 06/15/50 (c)		339,000		329,110
Commercial Mortgage-Backed Securities—(Continued)
Morgan Stanley Capital Trust 4.708%, 1M LIBOR + 2.550%, 07/15/35 (144A) (c)		640,000		640,403
4.758%, 1M LIBOR + 2.600%, 11/15/34 (144A) (c)		1,977,000		1,984,413
5.208%, 1M LIBOR + 3.050%, 11/15/34 (144A) (c)		610,000		613,431
Natixis Commercial Mortgage Securities Trust 3.013%, 1M LIBOR + 0.950%, 06/15/35 (144A) (c)		240,000		240,116
Olympic Tower Mortgage Trust 0.511%, 05/10/39 (144A) (c) (d)		13,300,000		393,161
4.077%, 05/10/39 (144A) (c)		1,345,000		1,232,968
One Market Plaza Trust Zero Coupon, 02/10/32 (144A) (c) (d)		4,222,000		4
0.218%, 02/10/32 (144A) (c) (d)		21,110,000		97,528
Park Avenue Mortgage Trust 4.277%, 1M LIBOR + 2.119%, 09/15/34 (144A) (c)		3,510,000		3,516,583
Park Avenue Trust 0.271%, 06/05/37 (144A) (c) (d)		5,000,000		72,406
3.779%, 06/05/37 (144A) (c)		2,460,000		2,189,367
Prima Capital CRE Securitization, Ltd. 4.000%, 08/24/49 (144A)		260,000		256,022
RAIT Trust 3.108%, 1M LIBOR + 0.950%, 06/15/37 (144A) (c)		924,529		924,809
Resource Capital Corp., Ltd. 2.958%, 1M LIBOR + 0.800%, 07/15/34 (144A) (c)		615,669		615,668
4.158%, 1M LIBOR + 2.000%, 07/15/34 (144A) (c)		331,911		331,911
UBS Commercial Mortgage Trust 3.000%, 10/15/51 (144A) (c)		105,000		83,749
Velocity Commercial Capital Loan Trust 4.646%, 1M LIBOR + 2.430%, 06/25/45 (144A) (c)		144,315		145,247
Waldorf Astoria Boca Raton Trust 3.508%, 1M LIBOR + 1.350%, 06/15/29 (144A) (c)		1,590,000		1,590,994
Wells Fargo Commercial Mortgage Trust 0.926%, 05/15/51 (c) (d)		4,988,322		280,494
1.072%, 12/15/48 (c) (d)		1,312,022		64,913
1.221%, 12/15/59 (c) (d)		2,389,583		135,133
1.407%, 08/15/49 (144A) (c) (d)		1,430,000		109,652
2.600%, 11/15/50 (144A) (c)		505,000		409,438
2.998%, 1M LIBOR + 0.850%, 12/13/31 (144A) (c)		490,000		490,312
3.453%, 07/15/50		449,000		436,698
3.718%, 12/15/48		190,000		189,591
3.753%, 12/15/48 (c)		35,000		32,353
3.809%, 12/15/48		630,000		633,337
3.874%, 06/15/36 (144A) (c)		270,000		267,402
4.315%, 1M LIBOR + 2.157%, 12/15/36 (144A) (c)		270,000		271,930
4.501%, 09/15/50 (144A) (c)		150,000		138,971
WF-RBS Commercial Mortgage Trust 3.108%, 1M LIBOR + 0.950%, 03/15/44 (144A) (c)		27,927		28,049
3.678%, 08/15/47		595,000		596,519
3.907%, 09/15/57 (c)		1,540,000		1,448,773
				118,320,953
Total Mortgage-Backed Securities (Cost $194,299,853)				192,757,855
Foreign Government—3.3%
Municipal—0.0%
Provincia de Rio Negro 7.750%, 12/07/25 (144A) (l)		600,000		450,006

BHFTII-32

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—3.3%
Argentina Bonar Bonds 8.000%, 10/08/20		1,272,000	$	1,309,979
8.750%, 05/07/24 (l)		1,255,133		1,191,732
Argentine Republic Government International Bonds 4.625%, 01/11/23		628,000		530,038
5.625%, 01/26/22		1,839,000		1,658,778
5.875%, 01/11/28 (b)		2,473,000		1,958,616
6.875%, 04/22/21		1,689,000		1,613,856
6.875%, 01/11/48 (b)		1,738,000		1,338,260
7.125%, 06/28/17		1,020,000		793,050
Bahrain Government International Bond 6.750%, 09/20/29 (144A)		212,000		205,428
Bonos de la Nacion Argentina con Ajuste por CER 4.000%, 03/06/20 (ARS) (l)		12,117,000		344,817
Brazilian Government International Bond 4.625%, 01/13/28 (b)		2,594,000		2,374,833
Colombia Government International Bonds 3.875%, 04/25/27 (b)		11,296,000		10,957,120
4.375%, 07/12/21		1,858,000		1,891,444
Dominican Republic International Bond 5.950%, 01/25/27		2,597,000		2,645,045
Ecuador Government International Bond 7.875%, 01/23/28		1,595,000		1,435,022
Egypt Government International Bonds 4.750%, 04/16/26 (144A) (EUR)		502,000		558,135
5.577%, 02/21/23 (144A)		348,000		337,463
5.750%, 04/29/20		1,166,000		1,181,554
6.125%, 01/31/22		592,000		592,225
Hungary Government International Bond 5.375%, 03/25/24 (b)		3,500,000		3,747,940
Indonesia Government International Bond 4.100%, 04/24/28 (b)		4,871,000		4,729,658
Indonesia Treasury Bond 7.500%, 05/15/38 (IDR)		30,285,000,000		1,827,079
Japanese Government CPI Linked Bond 0.100%, 03/10/28 (JPY) (l)		842,691,800		7,743,093
Mexico Government International Bonds 3.750%, 01/11/28 (b)		6,458,000		6,151,245
4.150%, 03/28/27 (b)		23,125,000		22,755,000
Panama Government International Bond 3.750%, 03/16/25		3,490,000		3,474,330
Peruvian Government International Bonds 4.125%, 08/25/27 (b)		4,246,000		4,377,668
7.350%, 07/21/25		2,900,000		3,555,429
Philippine Government International Bond 3.000%, 02/01/28		9,542,000		8,887,113
Republic of South Africa Government Bonds 6.250%, 03/31/36 (ZAR)		82,718,500		4,166,392
6.500%, 02/28/41 (ZAR)		11,680,500		575,714
8.500%, 01/31/37 (ZAR)		23,264,000		1,461,860
Republic of South Africa Government International Bonds 4.850%, 09/27/27 (b)		1,809,000		1,701,766
5.500%, 03/09/20		3,591,000		3,658,008
5.875%, 05/30/22		849,000		882,417
Russian Foreign Bond - Eurobond 4.250%, 06/23/27		2,600,000		2,493,660
Sovereign—(Continued)
Saudi Government International Bond 4.500%, 04/17/30 (144A)		206,000		206,927
Turkey Government International Bond 5.125%, 02/17/28		2,517,000		2,139,299
Uruguay Government International Bond 4.375%, 10/27/27 (l)		5,655,000		5,753,962
				123,205,955
Total Foreign Government (Cost $128,223,631)				123,655,961
Floating Rate Loans (m)—2.3%
Aerospace/Defense—0.1%
TransDigm, Inc. Term Loan G, 4.742%, 1M LIBOR + 2.500%, 08/22/24		1,899,647		1,907,827
Building Materials—0.2%
Jeld-Wen, Inc. 1st Lien Term Loan, 4.386%, 3M LIBOR + 2.000%, 12/14/24		958,133		962,126
Pisces Midco, Inc. Term Loan, 6.087%, 3M LIBOR + 3.750%, 04/12/25		2,264,325		2,281,778
Summit Materials Cos. I LLC Term Loan B, 4.218%, 1M LIBOR + 2.000%, 11/21/24		2,654,113		2,660,748
				5,904,652
Commercial Services—0.1%
Goldman Sachs Lending Partners, LLC Term Loan A, 3.984%, 1M LIBOR + 1.750%, 12/29/18 (g) (h)		1,539,461		1,539,461
Term Loan B, 4.187%, 1M LIBOR + 2.100%, 12/29/18 (g) (h)		3,804,658		3,804,658
				5,344,119
Distribution/Wholesale—0.3%
Beacon Roofing Supply, Inc. Term Loan B, 4.383%, 1M LIBOR + 2.250%, 01/02/25		1,529,315		1,528,359
Chimera Special Holding LLC Term Loan, 4.110%, 1M LIBOR + 2.000%, 10/04/19		11,011,678		11,011,678
				12,540,037
Distributors—0.0%
American Builders & Contractors Supply Co., Inc. Term Loan B, 4.242%, 1M LIBOR + 2.000%, 10/31/23		556,899		556,139
Diversified Financial Services—0.5%
Caliber Home Loans, Inc. Revolver, 5.198%, 1M LIBOR + 3.000%, 04/24/21 (g) (h)		4,451,200		4,451,200
LSTAR Securities Financing Vehicle:LPN Term Loan, 4.114%, 1M LIBOR + 2.000%, 04/01/21 (g) (h)		11,975,657		11,933,742

BHFTII-33

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Floating Rate Loans (m)—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
Roundpoint Mortgage Servicing Corp. Term Loan, 5.692%, 3M LIBOR + 3.375%, 08/08/20 (g) (h)		5,045,000	$	5,045,000
				21,429,942
Electric—0.1%
Vistra Energy Corp. 1st Lien Term Loan B3, 4.181%, 1M LIBOR + 2.000%, 12/31/25		1,286,775		1,288,866
Vistra Operations Co. LLC Term Loan B2, 4.492%, 1M LIBOR + 2.250%, 12/14/23		1,126,647		1,130,681
				2,419,547
Entertainment—0.2%
Scientific Games International, Inc. Term Loan B5, 5.034%, 3M LIBOR + 2.750%, 08/14/24		1,695,180		1,694,517
Stars Group Holdings B.V. (The) Incremental Term Loan, 5.886%, 3M LIBOR + 3.500%, 07/10/25		4,665,326		4,711,102
				6,405,619
Environmental Control—0.1%
Robertshaw U.S. Holding Corp. 1st Lien Term Loan, 5.750%, 1M LIBOR + 3.500%, 02/28/25		2,278,985		2,266,166
Holding Companies-Diversified—0.1%
Carval Term Loan A, 4.087%, 3M LIBOR + 1.750%, 12/29/18 (g) (h)		1,880,507		1,880,507
Term Loan B, 3.920%, 3M LIBOR + 1.750%, 12/29/18 (g) (h)		3,557,581		3,557,581
				5,438,088
Iron/Steel—0.0%
Samarco Mineracao S.A. Delayed Draw Term Loan, 12/02/18		543,000		366,525
Lodging—0.1%
MGM Growth Properties Operating Partnership L.P. Term Loan B, 4.242%, 1M LIBOR + 2.000%, 03/21/25		2,284,426		2,289,934
Miscellaneous Manufacturing—0.0%
Gates Global LLC Term Loan B, 4.992%, 1M LIBOR + 2.750%, 04/01/24		1,695,137		1,707,187
Packaging & Containers—0.1%
Reynolds Group Holdings, Inc. Term Loan, 4.992%, 1M LIBOR + 2.750%, 02/05/23		2,666,208		2,681,389
Pipelines—0.0%
AL Midcoast Holdings LLC Term Loan B, 7.843%, 3M LIBOR + 5.500%, 07/31/25		1,100,000		1,105,271

Security Description	Shares/ Principal Amount*		Value
Real Estate Investment Trusts—0.1%
VICI Properties 1 LLC Replacement Term Loan B, 4.212%, 1M LIBOR + 2.000%, 12/20/24		2,678,565	$	2,686,936
Retail—0.1%
Foundation Building Materials, LLC Term Loan B, 5.398%, 1M LIBOR + 3.250%, 08/13/25		1,175,000		1,180,508
SRS Distribution, Inc. 1st Lien Term Loan, 5.441%, 3M LIBOR + 3.250%, 05/23/25		840,000		834,000
				2,014,508
Software—0.1%
First Data Corp. Term Loan, 4.212%, 1M LIBOR + 2.000%, 04/26/24		2,686,084		2,690,954
Telecommunications—0.1%
Level 3 Financing, Inc. Term Loan B, 4.432%, 1M LIBOR + 2.250%, 02/22/24		2,688,501		2,698,024
Transportation—0.0%
XPO Logistics, Inc. Term Loan B, 4.230%, 1M LIBOR + 2.000%, 02/24/25		1,703,698		1,714,674
Total Floating Rate Loans (Cost $84,227,640)				84,167,538
Escrow Shares—0.0%
Savings & Loans—0.0%
Washington Mutual Bank (g) (h) (n)		5,027,000		1
Washington Mutual Bank (g) (h) (n)		1,310,000		0
Washington Mutual Bank (g) (h) (n)		2,440,000		0
Total Escrow Shares (Cost $0)				1
Short-Term Investments—6.0%
Certificate of Deposit—0.5%
Canadian Imperial Bank 2.660%, 04/17/19		7,790,000		7,792,315
MUFG Bank Ltd. 2.680%, 04/17/19		7,780,000		7,782,803
Wells Fargo Bank N.A. 2.700%, 04/16/19		3,770,000		3,772,659
				19,347,777
Commercial Paper—0.7%
AT&T, Inc. 2.800%, 12/06/18		5,030,000		5,005,079
2.900%, 03/07/19		5,060,000		4,998,605
Societe Generale 2.650%, 04/12/19		7,790,000		7,681,764

BHFTII-34

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Sumitomo Mitsui Banking Corp. 2.610%, 04/17/19		7,790,000	$	7,677,654
				25,363,102
Repurchase Agreement—4.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $175,911,954; collateralized by U.S. Treasury Notes with rates ranging from 2.125% - 2.375%, maturity dates ranging from 08/15/24 - 09/30/24, and an aggregate market value of $179,415,800.		175,897,296		175,897,296
Total Short-Term Investments (Cost $220,594,979)				220,608,175
Securities Lending Reinvestments (o)—3.4%
Certificates of Deposit—1.8%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (c)		3,000,000		2,999,949
Banco Santander S.A. 2.340%, 11/07/18		2,500,000		2,500,205
Bank of Montreal Zero Coupon, 10/31/18		1,995,737		1,996,125
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (c)		3,500,000		3,503,340
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (c)		3,500,000		3,499,289
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (c)		1,000,000		1,000,298
Commonwealth Bank of Australia 2.487%, 3M LIBOR + 0.140%, 04/23/19 (c)		1,000,000		1,000,358
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (c)		3,500,000		3,500,262
Credit Industriel et Commercial Zero Coupon, 01/25/19		987,228		992,030
Credit Industriel et Commercial (NY) 2.364%, 1M LIBOR + 0.250%, 02/05/19 (c)		1,500,000		1,500,709
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,500,000		1,500,020
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		2,000,000		2,000,004
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (c)		3,000,000		2,999,901
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (c)		1,000,000		999,921
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (c)		2,000,000		1,999,890
2.381%, 1M LIBOR + 0.250%, 01/11/19 (c)		2,500,000		2,500,825
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (c)		2,000,000		1,999,766
2.551%, 1M LIBOR + 0.420%, 10/11/18 (c)		2,000,000		2,000,100
Sumitomo Mitsui Banking Corp., New York 2.276%, 1M LIBOR + 0.200%, 04/03/19 (c)		1,000,682		999,871

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Sumitomo Mitsui Trust Bank, Ltd., London 2.321%, 1M LIBOR + 0.190%, 04/11/19 (c)		5,000,000	$	4,999,765
2.528%, 1M LIBOR + 0.310%, 11/26/18 (c)		3,000,000		3,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (c)		4,000,000		4,000,476
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (c)		5,000,000		5,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (c)		5,000,000		5,000,570
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (c)		3,000,000		3,001,593
				64,495,267
Commercial Paper—0.4%
Bank of China, Ltd. 2.510%, 11/02/18		3,974,621		3,991,200
2.550%, 10/19/18		1,490,756		1,498,074
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (c)		1,500,000		1,500,154
Sheffield Receivables Co. 2.510%, SOFR + 0.350%, 11/28/18 (c)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000		997,834
Starbird Funding Corp. 2.280%, 11/08/18		994,300		997,446
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (c)		4,000,000		4,003,692
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (c)		2,000,000		2,001,108
				15,489,645
Repurchase Agreements—1.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $3,536,769; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $3,690,001.		3,500,000		3,500,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $1,007,139; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $800,149; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $816,000.		800,000		800,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $500,093; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $510,000.		500,000		500,000

BHFTII-35

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (o)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $800,149; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $816,000.		800,000	$	800,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $407,538; collateralized by various Common Stock with an aggregate market value of $445,329.		400,000		400,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $501,983; collateralized by various Common Stock with an aggregate market value of $555,623.		500,000		500,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,352,731; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,378,481.		1,352,483		1,352,483
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $5,618,754; collateralized by various Common Stock with an aggregate market value of $5,830,001.		5,300,000		5,300,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $3,117,187; collateralized by various Common Stock with an aggregate market value of $3,300,000.		3,000,000		3,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $7,003,362; collateralized by various Common Stock with an aggregate market value of $7,701,500.		7,000,000		7,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $810,348; collateralized by various Common Stock with an aggregate market value of $890,124.		800,000		800,000
Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $917,843; collateralized by various Common Stock with an aggregate market value of $1,001,390.		900,000		900,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $2,010,402; collateralized by various Common Stock with an aggregate market value of $2,225,488.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $1,013,283; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $1,215,323; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,332,778.		1,200,000	$	1,200,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $1,316,183; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,443,843.		1,300,000		1,300,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,315,599; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,443,843.		1,300,000		1,300,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $2,022,100; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $4,038,480; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,442,594.		4,000,000		4,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $2,413,572; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,665,556.		2,400,000		2,400,000
				41,052,483
Time Deposits—0.1%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		1,000,000		1,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				4,000,000
Total Securities Lending Reinvestments (Cost $125,025,247)				125,037,395
Total Purchased Options—0.2% (p) (Cost $7,391,221)				6,148,460
Total Investments—112.0% (Cost $4,211,680,191)				4,152,012,636
Other assets and liabilities (net)—(12.0)%				(444,237,557	)
Net Assets—100.0%			$	3,707,775,079

BHFTII-36

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $121,683,523 and the collateral received consisted of cash in the amount of $124,989,809. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Interest only security.
(e)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2018, the market value of securities pledged was $10,827,323.
(f)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(g)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(h)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent 1.9% of net assets.
(i)	Payment-in-kind security for which part of the income earned may be paid as additional principal.
(j)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered.
	Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of September 30, 2018, the market value of restricted securities was $520,235, which is 0.0% of net assets. See details shown in the Restricted Securities table that follows.
(k)	Principal only security.
(l)	Principal amount of security is adjusted for inflation.
(m)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(n)	Illiquid security. As of September 30, 2018, these securities represent 0.0% of net assets.
(o)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(p)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $715,098,711, which is 19.3% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Knollwood CDO, Ltd., 4.355%, 01/10/39		02/10/04	$	886,864	$	886,864	$	0
Seasoned Credit Risk Transfer Trust, 4.750%, 07/25/56		10/04/17		540,000		520,446		520,235
							$	520,235

TBA Forward Sale Commitments

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Fannie Mae 15 Yr. Pool		2.000	%		TBA	$	(5,877,000	)	$	(5,533,563	)	$	(5,509,573	)
Fannie Mae 15 Yr. Pool		3.500	%		TBA		(9,376,000	)		(9,439,830	)		(9,424,183	)
Fannie Mae 15 Yr. Pool		4.000	%		TBA		(3,530,000	)		(3,601,672	)		(3,600,953	)
Fannie Mae 30 Yr. Pool		3.500	%		TBA		(36,553,158	)		(36,076,725	)		(35,932,424	)
Fannie Mae 30 Yr. Pool		4.000	%		TBA		(99,825,000	)		(101,327,580	)		(100,797,295	)
Fannie Mae 30 Yr. Pool		4.500	%		TBA		(29,567,000	)		(30,598,651	)		(30,501,365	)
Fannie Mae 30 Yr. Pool		5.000	%		TBA		(171,000	)		(179,543	)		(179,543	)
Fannie Mae 30 Yr. Pool		6.000	%		TBA		(2,002,000	)		(2,176,862	)		(2,163,940	)
Ginnie Mae I 30 Yr. Pool		4.500	%		TBA		(3,100,000	)		(3,206,562	)		(3,203,414	)
Totals									$	(192,140,988	)	$	(191,312,690	)

BHFTII-37

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
ARS	5,321,030	JPMC		10/09/18		USD	134,200	$	(6,552	)
ARS	6,184,250	BNP		11/02/18		USD	145,000		(1,314	)
ARS	7,907,310	CBNA		11/02/18		USD	185,400		(1,680	)
ARS	12,449,000	JPMC		11/02/18		USD	295,000		(5,758	)
ARS	12,493,250	JPMC		11/02/18		USD	295,000		(4,730	)
ARS	5,764,170	BNP		11/30/18		USD	141,800		(12,356	)
ARS	5,920,320	BNP		11/30/18		USD	140,960		(8,010	)
ARS	6,469,819	BNP		11/30/18		USD	155,040		(9,750	)
ARS	6,834,300	BNP		11/30/18		USD	165,000		(11,525	)
ARS	12,655,500	BNP		11/30/18		USD	295,000		(10,800	)
ARS	6,042,150	CBNA		11/30/18		USD	145,000		(9,314	)
ARS	6,155,250	JPMC		11/30/18		USD	145,000		(6,774	)
ARS	18,147,150	CBNA		12/28/18		USD	441,000		(44,904	)
AUD	902,725	JPMC		10/24/18		USD	654,351		(1,734	)
AUD	402,000	MSIP		12/19/18		USD	290,121		637
BRL	6,877,908	BNP		10/02/18		USD	1,717,802		(14,738	)
BRL	10,141,880	BNP		10/02/18		USD	2,498,000		13,268
BRL	1,389,288	BBP		10/02/18		USD	335,520		8,487
BRL	2,428,536	BBP		10/02/18		USD	606,543		(5,204	)
BRL	6,284,008	BBP		10/02/18		USD	1,569,472		(13,466	)
BRL	2,089,417	GSI		10/02/18		USD	521,846		(4,477	)
BRL	2,285,453	GSI		10/02/18		USD	545,220		20,689
BRL	2,346,298	GSI		10/02/18		USD	587,000		(6,025	)
BRL	2,692,387	GSI		10/02/18		USD	672,441		(5,769	)
BRL	2,768,577	GSI		10/02/18		USD	691,470		(5,933	)
BRL	9,370,663	GSI		10/02/18		USD	2,289,660		30,644
BRL	17,743,346	GSI		10/02/18		USD	4,336,000		57,494
BRL	1,402,742	MSIP		10/02/18		USD	335,520		11,818
BRL	3,525,644	MSIP		10/02/18		USD	880,552		(7,555	)
BRL	4,164,066	MSIP		10/02/18		USD	1,040,003		(8,923	)
BRL	4,114,529	UBSA		10/02/18		USD	1,027,630		(8,817	)
BRL	8,763,056	BNP		11/05/18		USD	2,168,000		(3,240	)
BRL	10,001,692	BNP		11/05/18		USD	2,498,000		(27,257	)
BRL	8,726,200	UBSA		11/05/18		USD	2,168,000		(12,345	)
BRL	3,079,605	BBP		11/26/18		USD	752,000		7,293
CAD	10,029,269	BBP		12/19/18		USD	7,715,000		62,766
CLP	422,202,240	UBSA		10/09/18		USD	610,560		31,397
CLP	1,242,048,024	CBNA		10/24/18		USD	1,831,200		57,960
CLP	491,332,934	BBP		10/26/18		USD	732,480		14,872
CLP	682,585,728	BBP		10/26/18		USD	1,017,600		20,662
CLP	403,061,276	BNP		11/09/18		USD	610,560		2,673
EUR	2,289,000	GSI		10/03/18		USD	2,674,478		(16,624	)
IDR	16,172,352,000	JPMC		10/12/18		USD	1,069,600		14,456
IDR	39,091,955,000	BBP		10/31/18		USD	2,653,000		(38,576	)
JPY	82,691,793	BOA		10/10/18		USD	749,400		(21,182	)
KRW	2,493,260,572	BNP		10/02/18		USD	2,226,000		21,699
KRW	2,483,058,480	BBP		10/02/18		USD	2,236,587		1,915
MXN	59,827,685	BNP		10/01/18		USD	3,179,500		17,448
MXN	5,029,805	CBNA		10/09/18		USD	257,539		10,942
MXN	9,226,910	HSBC		10/09/18		USD	472,663		19,849
MXN	5,536,315	MSIP		10/09/18		USD	283,598		11,919
MXN	53,449,125	GSI		10/17/18		USD	2,821,800		27,634
MXN	41,857,872	JPMC		10/19/18		USD	2,226,000		4,794
MXN	13,172,469	RBS		10/23/18		USD	699,000		2,582
MXN	10,379,662	BBP		11/26/18		USD	543,000		6,916
MXN	13,782,203	BBP		11/26/18		USD	721,000		9,183
MXN	86,179,089	HSBC		11/26/18		USD	4,426,000		139,780

BHFTII-38

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
NOK	9,229,820	DBAG		12/19/18		USD	1,135,000	$	2,859
NOK	21,525,139	DBAG		12/19/18		USD	2,647,000		6,636
NZD	369,000	DBAG		12/19/18		USD	244,169		534
RUB	300,149,836	BNP		10/05/18		USD	4,678,000		(97,872	)
RUB	62,157,200	GSI		10/26/18		USD	940,600		5,874
TRY	5,254,608	BNP		10/05/18		USD	832,000		36,454
TRY	7,559,612	BNP		10/22/18		USD	1,184,700		51,132
TWD	28,447,450	MSIP		10/05/18		USD	925,000		6,867
ZAR	41,446,598	JPMC		10/01/18		USD	2,821,800		109,101
ZAR	17,119,143	BOA		10/03/18		USD	1,193,527		16,888
ZAR	28,903,991	GSI		10/05/18		USD	1,881,200		161,906
ZAR	22,732,000	DBAG		10/16/18		USD	1,492,665		111,812
ZAR	40,627,148	BOA		11/01/18		USD	2,821,800		39,762
ZAR	13,295,068	JPMC		11/05/18		USD	940,600		(4,658	)
Contracts to Deliver
ARS	13,554,573	JPMC		10/16/18		USD	344,637		22,525
ARS	13,554,573	JPMC		10/16/18		USD	344,637		22,525
ARS	13,876,307	MSIP		10/16/18		USD	353,087		23,329
ARS	13,502,878	MSIP		10/16/18		USD	344,637		23,754
ARS	30,473,790	JPMC		11/30/18		USD	881,000		196,662
ARS	15,942,150	CBNA		12/28/18		USD	441,000		93,032
BRL	10,141,880	BNP		10/02/18		USD	2,533,000		21,733
BRL	6,877,908	BNP		10/02/18		USD	1,677,600		(25,464	)
BRL	6,284,008	BBP		10/02/18		USD	1,512,000		(44,006	)
BRL	2,428,536	BBP		10/02/18		USD	587,000		(14,339	)
BRL	1,389,288	BBP		10/02/18		USD	346,984		2,977
BRL	17,743,346	GSI		10/02/18		USD	4,431,516		38,022
BRL	9,370,663	GSI		10/02/18		USD	2,340,384		20,080
BRL	2,768,577	GSI		10/02/18		USD	671,040		(14,497	)
BRL	2,692,387	GSI		10/02/18		USD	654,000		(12,672	)
BRL	2,346,298	GSI		10/02/18		USD	586,003		5,028
BRL	2,285,453	GSI		10/02/18		USD	570,807		4,897
BRL	2,089,417	GSI		10/02/18		USD	503,280		(14,088	)
BRL	4,164,066	MSIP		10/02/18		USD	999,200		(31,880	)
BRL	3,525,644	MSIP		10/02/18		USD	838,800		(34,198	)
BRL	1,402,742	MSIP		10/02/18		USD	350,344		3,006
BRL	4,114,529	UBSA		10/02/18		USD	986,000		(32,813	)
BRL	17,791,909	GSI		11/05/18		USD	4,336,000		(59,180	)
BRL	9,396,307	GSI		11/05/18		USD	2,289,660		(31,533	)
BRL	2,351,522	GSI		11/05/18		USD	587,000		6,098
BRL	3,082,749	GSI		11/26/18		USD	752,000		(8,068	)
CAD	10,029,368	CBNA		12/19/18		USD	7,715,000		(62,843	)
CLP	403,345,790	BNP		10/09/18		USD	610,560		(2,726	)
EUR	2,289,000	MSIP		10/03/18		USD	2,687,094		29,240
EUR	489,471	SCB		10/16/18		USD	568,582		(342	)
IDR	8,011,682,880	BBP		10/12/18		USD	529,600		(7,435	)
IDR	7,176,794,483	BBP		10/19/18		USD	486,434		5,767
IDR	24,814,687,924	MSIP		10/19/18		USD	1,680,187		18,221
IDR	27,919,500,000	MSIP		10/26/18		USD	1,861,300		(7,043	)
IDR	27,919,500,000	MSIP		10/26/18		USD	1,861,300		(7,043	)
KRW	2,493,260,572	BNP		10/02/18		USD	2,245,776		(1,923	)
KRW	2,483,058,480	BBP		10/02/18		USD	2,226,000		(12,502	)
KRW	2,491,590,003	BNP		11/02/18		USD	2,226,000		(21,612	)
MXN	13,186,209	BNP		10/01/18		USD	701,138		(3,479	)
MXN	26,475,849	RBS		10/01/18		USD	1,407,908		(6,854	)

BHFTII-39

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
MXN	13,237,924	RBS		10/01/18		USD	703,954	$	(3,427	)
MXN	15,868,413	SSBT		10/01/18		USD	830,200		(17,743	)
MXN	13,539,857	UBSA		10/01/18		USD	721,000		(2,515	)
MXN	13,154,868	GSI		10/09/18		USD	699,000		(3,179	)
MXN	26,403,327	UBSA		10/23/18		USD	1,398,000		(8,273	)
MXN	22,391,454	BBP		11/01/18		USD	1,184,700		(6,222	)
MXN	88,403,155	RBS		11/26/18		USD	4,584,800		(98,811	)
MXN	26,954,150	SSBT		11/26/18		USD	1,398,000		(30,035	)
RUB	48,345,648	BBP		10/05/18		USD	754,000		16,271
RUB	249,193,620	DBAG		10/05/18		USD	3,924,000		121,437
TRY	2,928,376	GSI		10/05/18		USD	472,000		(11,987	)
TRY	4,283,865	BNP		10/22/18		USD	690,000		(10,319	)
TRY	1,061,558	BOA		10/22/18		USD	169,700		(3,842	)
TRY	1,063,758	HSBC		10/22/18		USD	170,000		(3,901	)
TRY	970,114	MSIP		10/22/18		USD	155,000		(3,593	)
TWD	28,436,042	DBAG		10/05/18		USD	925,000		(6,493	)
TWD	48,010,952	BOA		10/26/18		USD	1,567,704		(7,149	)
TWD	47,985,343	MSIP		10/26/18		USD	1,567,790		(6,224	)
TWD	47,965,671	MSIP		10/26/18		USD	1,567,506		(5,863	)
ZAR	17,119,143	GSI		10/03/18		USD	1,286,810		76,395
ZAR	3,489,712	BBP		10/05/18		USD	230,035		(16,638	)
ZAR	13,241,455	JPMC		10/05/18		USD	940,600		4,615
ZAR	10,784,472	MSIP		10/05/18		USD	710,565		(51,746	)
ZAR	145,111,349	BOA		10/16/18		USD	10,542,282		299,984
ZAR	8,237,772	GSI		10/22/18		USD	572,000		(8,985	)
ZAR	784,592	BNP		10/31/18		USD	54,567		(702	)
ZAR	1,570,431	BBP		10/31/18		USD	109,135		(1,492	)
ZAR	3,325,959	HSBC		10/31/18		USD	231,222		(3,071	)
ZAR	7,843,481	MSIP		10/31/18		USD	545,675		(6,850	)
ZAR	1,758,824	CBNA		11/01/18		USD	121,800		(2,082	)
ZAR	10,269,227	JPMC		11/01/18		USD	710,000		(13,310	)
ZAR	4,116,825	JPMC		11/01/18		USD	285,000		(4,967	)
ZAR	20,514,030	RBS		11/01/18		USD	1,420,000		(24,900	)
ZAR	4,114,517	RBS		11/01/18		USD	285,000		(4,805	)
ZAR	17,119,143	BOA		12/03/18		USD	1,183,959		(16,765	)
Cross Currency Contracts to Buy
AUD	3,782,000	JPMC		12/19/18		SEK	24,229,999		(9,550	)
CAD	5,780,670	MSIP		12/19/18		EUR	3,782,000		63,076
EUR	3,782,000	BOA		12/19/18		JPY	500,239,467		(10,151	)
EUR	1,890,000	MSIP		12/19/18		CAD	2,872,706		(19,035	)
EUR	1,892,000	MSIP		12/19/18		CAD	2,877,108		(20,111	)
JPY	494,364,508	JPMC		12/19/18		EUR	3,782,000		(41,876	)
JPY	390,424,177	CBNA		12/19/18		NZD	5,295,000		(53,868	)
NZD	1,513,000	JPMC		12/19/18		JPY	112,915,190		3,393
NZD	1,512,857	JPMC		12/19/18		JPY	113,070,932		1,919
SEK	8,041,893	MSIP		12/19/18		AUD	1,260,000		(274	)
SEK	16,096,550	MSIP		12/19/18		AUD	2,522,000		(548	)
Net Unrealized Appreciation								$	867,884

BHFTII-40

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		03/16/20		4,731			USD	1,145,315,963		$	(1,598,281	)
Euro-BTP Futures		12/06/18		59			EUR	7,306,560			(168,393	)
Euro-Schatz Futures		12/06/18		702			EUR	78,466,050			11,650
U.S. Treasury Long Bond Futures		12/19/18		29			USD	4,074,500			(6,383	)
U.S. Treasury Note 10 Year Futures		12/19/18		221			USD	26,250,656			52,838
U.S. Treasury Note 2 Year Futures		12/31/18		5,064			USD	1,067,158,880			(2,704,889	)
U.S. Treasury Note 5 Year Futures		12/31/18		3,923			USD	441,245,557			(2,862,661	)
U.S. Treasury Note Ultra 10 Year Futures		12/19/18		455			USD	57,330,000			(1,052,773	)
U.S. Treasury Ultra Long Bond Futures		12/19/18		1,061			USD	163,692,406			(5,967,752	)
Futures Contracts—Short
90 Day Eurodollar Futures		12/14/20		(704	)		USD	(170,429,600	)		147,931
90 Day Eurodollar Futures		03/15/21		(3,940	)		USD	(954,021,750	)		1,229,805
Euro-Bund Futures		12/06/18		(2	)		EUR	(317,580	)		3,760
Japanese Government 10 Year Bond Futures		12/13/18		(47	)		JPY	(7,054,230,000	)		95,748
Net Unrealized Depreciation										$	(12,819,400	)

Purchased Options

Foreign Currency Options	Strike Price			Counterparty	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
USD Call/BRL Put		BRL	3.800	GSI		10/05/18		1,677,600		USD	1,677,600	$	33,262	$	102,028	$	68,766
USD Call/BRL Put		BRL	3.850	GSI		10/10/18		3,300,000		USD	3,300,000		121,179		166,475		45,296
USD Call/BRL Put		BRL	4.000	MSIP		10/10/18		3,300,000		USD	3,300,000		83,655		74,263		(9,392	)
USD Call/BRL Put		BRL	4.250	BNP		10/10/18		1,650,000		USD	1,650,000		45,458		5,037		(40,421	)
USD Call/BRL Put		BRL	3.600	DBAG		10/31/18		212,000		USD	212,000		22,260		29,601		7,341
USD Call/BRL Put		BRL	4.090	BNP		11/21/18		1,811,000		USD	1,811,000		84,574		61,313		(23,261	)
USD Call/TWD Put		TWD	31.000	BOA		10/05/18		1,748,600		USD	1,748,600		4,779		59		(4,720	)
USD Call/ZAR Put		ZAR	13.750	BNP		10/11/18		1,039,500		USD	1,039,500		54,123		33,159		(20,964	)
USD Put/BRL Call		BRL	4.080	DBAG		10/11/18		1,272,000		USD	1,272,000		17,732		7,108		(10,624	)
USD Put/BRL Call		BRL	3.900	DBAG		11/08/18		3,931,000		USD	3,931,000		17,572		14,446		(3,126	)
USD Put/BRL Call		BRL	4.100	BNP		10/04/18		1,174,000		USD	1,174,000		12,720		21,134		8,414
USD Put/BRL Call		BRL	4.120	MSIP		10/05/18		1,272,000		USD	1,272,000		17,262		28,768		11,506
USD Put/CAD Call		CAD	1.290	DBAG		10/09/18		32,966,000		USD	32,966,000		147,028		118,777		(28,251	)
USD Put/MXN Call		MXN	18.000	MSIP		10/04/18		6,359,000		USD	6,359,000		10,467		6		(10,461	)
USD Put/MXN Call		MXN	19.000	CBNA		10/19/18		2,796,000		USD	2,796,000		53,823		49,783		(4,040	)
USD Put/MXN Call		MXN	16.500	MSIP		10/25/18		212,000		USD	212,000		20,673		—		(20,673	)
USD Put/TRY Call		TRY	6.360	CBNA		10/19/18		720,000		USD	720,000		22,383		32,874		10,491
USD Put/TRY Call		TRY	4.497	CBNA		10/19/18		17,435,000		USD	17,435,000		127,624		—		(127,624	)
USD Put/ZAR Call		ZAR	13.350	JPMC		10/11/18		1,386,000		USD	1,386,000		26,805		509		(26,296	)
USD Put/ZAR Call		ZAR	14.500	CBNA		10/18/18		1,144,000		USD	1,144,000		25,740		35,215		9,475
USD Put/ZAR Call		ZAR	13.800	CBNA		10/18/18		1,144,000		USD	1,144,000		4,645		5,797		1,152
USD Put/ZAR Call		ZAR	12.630	JPMC		10/18/18		13,080,000		USD	13,080,000		77,332		275		(77,057	)
USD Put/ZAR Call		ZAR	12.630	JPMC		10/18/18		9,444,000		USD	9,444,000		55,436		198		(55,238	)
Totals												$	1,086,532	$	786,825	$	(299,707	)

Interest Rate Swaptions	Strike Rate			Counterparty		Floating Rate Index		Pay/Receive Floating Rate	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Depreciation
Call - OTC - 10 Yr. IRS		3.041	%		JPMC		3M LIBOR	Pay		04/27/38		52,790,000		USD	52,790,000	$	2,520,612	$	2,485,216	$	(35,396	)
Put - OTC - 10 Yr. IRS		3.210	%		CBNA		3M LIBOR	Receive		10/05/18		99,607,000		USD	99,607,000		318,742		29,782		(288,960	)
Put - OTC - 10 Yr. IRS		3.041	%		JPMC		3M LIBOR	Receive		04/27/38		52,790,000		USD	52,790,000		2,520,612		2,496,418		(24,194	)
Totals																$	5,359,966	$	5,011,416	$	(348,550	)

BHFTII-41

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Purchased Options—(Continued)

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Depreciation
Put - U.S. Treasury Note 10-Year Futures		USD	118.500		10/05/18		3,202		USD	3,202,000	$	944,723	$	350,219	$	(594,504	)

Written Options

Foreign Currency Options	Strike Price			Counterparty	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
USD Call/BRL Put		BRL	4.450	BNP		10/04/18		(1,174,000	)		USD	(1,174,000	)	$	(4,461	)	$	(3	)	$	4,458
USD Call/BRL Put		BRL	3.960	GSI		10/05/18		(2,516,400	)		USD	(2,516,400	)		(22,262	)		(60,721	)		(38,459	)
USD Call/BRL Put		BRL	4.250	MSIP		10/10/18		(3,300,000	)		USD	(3,300,000	)		(34,320	)		(10,075	)		24,245
USD Call/BRL Put		BRL	4.000	GSI		10/10/18		(3,300,000	)		USD	(3,300,000	)		(71,679	)		(74,263	)		(2,584	)
USD Call/BRL Put		BRL	4.110	BNP		11/21/18		(1,811,000	)		USD	(1,811,000	)		(73,889	)		(51,105	)		22,784
USD Call/BRL Put		BRL	4.100	GSI		11/21/18		(1,677,600	)		USD	(1,677,600	)		(74,955	)		(55,121	)		19,834
USD Call/ZAR Put		ZAR	13.750	JPMC		10/11/18		(1,039,500	)		USD	(1,039,500	)		(19,615	)		(33,159	)		(13,544	)
USD Put/BRL Call		BRL	4.120	DBAG		10/05/18		(1,272,000	)		USD	(1,272,000	)		(43,426	)		(28,767	)		14,659
USD Put/BRL Call		BRL	4.080	MSIP		10/11/18		(1,272,000	)		USD	(1,272,000	)		(17,548	)		(7,108	)		10,440
USD Put/CAD Call		CAD	1.290	BBP		10/09/18		(32,966,000	)		USD	(32,966,000	)		(54,724	)		(118,776	)		(64,052	)
USD Put/TRY Call		TRY	4.497	BNP		10/19/18		(17,435,000	)		USD	(17,435,000	)		(66,985	)		—			66,985
USD Put/TRY Call		TRY	5.960	CBNA		10/19/18		(1,080,000	)		USD	(1,080,000	)		(6,403	)		(8,622	)		(2,219	)
USD Put/ZAR Call		ZAR	13.800	CBNA		10/18/18		(1,716,000	)		USD	(1,716,000	)		(12,390	)		(8,695	)		3,695
Totals														$	(502,657	)	$	(456,415	)	$	46,242

Forward Volatility Agreements	Currency Price		Strike Volatility			Counterparty		Expiration Date		Number of Contracts			Notional Amount				Premiums Received		Market Value			Unrealized Depreciation
USD Put/JPY Call		USD		8.900	%		DBAG		04/03/19		(6,233,000	)		USD	(6,233,000	)	$	—	$	(44,267	)	$	(44,267	)
USD Put/JPY Call		USD		8.900	%		DBAG		04/03/19		(6,233,000	)		USD	(6,233,000	)		—		(44,267	)		(44,267	)
USD Put/JPY Call		USD		8.725	%		DBAG		04/03/19		(12,736,000	)		USD	(12,736,000	)		—		(78,072	)		(78,072	)
Totals																	$	—	$	(166,606	)	$	(166,606	)

Interest Rate Swaptions	Strike Rate			Counterparty		Floating Rate Index		Pay/Receive Floating Rate	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - OTC - 2 Yr. IRS		2.780	%		JPMC		3M LIBOR	Receive		11/29/18		(344,100,000	)		USD	(344,100,000	)	$	(316,572	)	$	(45,352	)	$	271,220
Put - OTC - 2 Yr. IRS		3.080	%		JPMC		3M LIBOR	Pay		11/29/18		(344,100,000	)		USD	(344,100,000	)		(275,280	)		(353,047	)		(77,767	)
Totals																		$	(591,852	)	$	(398,399	)	$	193,453

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Depreciation
Put - Eurodollar Midcurve 2-Year Futures		USD	96.750		12/14/18		(2,358	)		USD	(5,895,000	)	$	(290,010	)	$	(427,387	)	$	(137,377	)

Swap Agreements

OTC Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date	Counterparty	Notional Amount		Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)(1)
Pay	28-Day TIIE	Monthly	6.270%	Monthly	12/05/25	BOA	MXN	2,209,451	$	(11,756	)	$	—	$	(11,756	)
Pay	28-Day TIIE	Monthly	6.325%	Monthly	07/17/25	CBNA	MXN	19,973,500		(97,306	)		—		(97,306	)
Pay	28-Day TIIE	Monthly	6.330%	Monthly	08/06/25	CBNA	MXN	59,593,000		(291,819	)		—		(291,819	)
Pay	28-Day TIIE	Monthly	6.980%	Monthly	11/28/18	JPMC	MXN	92,466,976		(9,600	)		—		(9,600	)
Pay	28-Day TIIE	Monthly	6.980%	Monthly	11/28/18	CBNA	MXN	163,000,000		(16,924	)		—		(16,924	)
Pay	28-Day TIIE	Monthly	7.060%	Monthly	11/21/18	JPMC	MXN	114,610,942		(9,800	)		—		(9,800	)

BHFTII-42

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

OTC Interest Rate Swaps—(Continued)

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date	Counterparty	Notional Amount		Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)(1)
Pay	28-Day TIIE	Monthly	7.070%	Monthly	11/21/18	CBNA	MXN	95,509,119	$	(8,091	)	$	—	$	(8,091	)
Receive	28-Day TIIE	Monthly	4.700%	Monthly	12/06/18	BOA	MXN	8,147,763		2,842			—		2,842
Receive	28-Day TIIE	Monthly	4.760%	Monthly	12/06/18	CBNA	MXN	8,147,763		2,792			—		2,792
Receive	28-Day TIIE	Monthly	4.770%	Monthly	12/05/18	CBNA	MXN	8,147,763		2,744			—		2,744
Receive	28-Day TIIE	Monthly	4.850%	Monthly	11/01/18	BOA	MXN	22,482,829		3,681			—		3,681
Receive	28-Day TIIE	Monthly	6.307%	Monthly	08/11/25	DBAG	MXN	74,533,884		370,668			—		370,668
Receive	28-Day TIIE	Monthly	6.310%	Monthly	08/11/25	BOA	MXN	20,079,000		99,693			—		99,693
Receive	28-Day TIIE	Monthly	6.310%	Monthly	08/11/25	BOA	MXN	20,079,000		99,693			—		99,693
Receive	1-Day CDI	Monthly	8.525%	Monthly	01/02/20	GSI	BRL	64,000,000		(47,899	)		—		(47,899	)
Totals									$	88,918		$	—	$	88,918

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency		Maturity Date		Notional Amount		Market Value			Upfront Premiums Paid		Unrealized Appreciation/ (Depreciation)
Pay	12M CPTFE		Maturity	1.631%		Maturity		06/15/28	EUR	14,890,000	$	(1,597	)	$	717	$	(2,314	)
Pay	28-Day TIIE		Monthly	6.320%		Monthly		07/17/25	MXN	40,086,000		(194,764	)		—		(194,764	)
Pay	28-Day TIIE		Monthly	7.658%		Monthly		02/22/21	MXN	105,625,200		(31,167	)		95		(31,262	)
Pay	28-Day TIIE		Monthly	7.860%		Monthly		09/24/21	MXN	194,484,167		(3,060	)		174		(3,234	)
Pay	28-Day TIIE		Monthly	7.870%		Monthly		09/24/21	MXN	193,255,833		(253	)		172		(425	)
Pay	3M LIBOR		Quarterly	2.131%		Semi-Annually		08/25/25	USD	1,285,000		(77,608	)		—		(77,608	)
Receive	28-Day TIIE		Monthly	7.105%		Monthly		10/14/22	MXN	48,327,742		69,779			46		69,733
Receive	28-Day TIIE		Monthly	7.110%		Monthly		10/14/22	MXN	36,666,258		52,597			35		52,562
Receive	28-Day TIIE		Monthly	7.361%		Monthly		01/28/19	MXN	300,263,934		42,511			—		42,511
Receive	3M JIBAR		Quarterly	7.640%		Quarterly		03/06/28	ZAR	31,075,900		119,043			59		118,984
Receive	3M JIBAR		Quarterly	7.660%		Quarterly		03/06/28	ZAR	31,549,550		117,939			59		117,880
Receive	3M JIBAR		Quarterly	7.895%		Quarterly		06/20/28	ZAR	21,468,000		59,919			40		59,879
Receive	3M JIBAR		Quarterly	7.940%		Quarterly		06/20/28	ZAR	27,914,550		71,991			51		71,940
Receive	3M LIBOR		Semi-Annually	2.272%		Quarterly		09/11/25	USD	955,000		49,568			—		49,568
Receive	3M LIBOR		Semi-Annually	2.889%		Quarterly		03/19/28	USD	280,000		5,683			6		5,677
Receive	3M LIBOR		Semi-Annually	2.915%		Quarterly		08/23/26	USD	2,085,000		28,947			40		28,907
Receive	3M LIBOR		Semi-Annually	2.938%		Quarterly		03/14/28	USD	610,000		9,918			13		9,905
Receive	3M LIBOR		Semi-Annually	3.069%		Quarterly		09/13/28	USD	1,240,000		7,964			26		7,938
Totals											$	327,410		$	1,533	$	325,877

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premiums (Received)			Unrealized Depreciation
CDX.NA.IG.31.V1		(1.000	%)		Quarterly		12/20/23		1.057	%		USD	38,438,000	$	(742,853	)	$	(723,919	)	$	(18,934	)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty		Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Depreciation
Argentina Government International Bond 7.500%, due 04/22/26		(5.000	%)		Quarterly		12/20/23		CBNA		5.781	%		USD	3,365,381	$	107,323	$	190,233	$	(82,910	)
Bahrain Government International Bond 5.500%, due 03/31/20		(1.000	%)		Quarterly		12/20/23		JPMC		3.152	%		USD	230,000		22,021		26,796		(4,775	)

BHFTII-43

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Depreciation
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		12/20/23	CBNA		2.602	%		USD	8,843,193	$	645,771		$	782,736		$	(136,965	)
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		12/20/23	GSI		2.602	%		USD	3,050,000		222,725			272,025			(49,300	)
Mexico Government International Bond 7.500%, due 04/08/33		(1.000	%)		Quarterly		06/20/20	JPMC		0.492	%		USD	3,824,276		(32,957	)		33,406			(66,363	)
Mexico Government International Bond 7.500%, due 04/08/33		(1.000	%)		Quarterly		09/20/20	BOA		0.511	%		USD	3,824,276		(36,174	)		50,241			(86,415	)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		12/20/23	CBNA		1.128	%		USD	1,880,000		11,426			18,965			(7,539	)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		12/20/23	CBNA		1.128	%		USD	1,120,000		6,807			11,298			(4,491	)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		12/20/23	GSI		1.128	%		USD	10,295,000		62,572			99,700			(37,128	)
Philippines Government International Bond 10.625%, due 03/16/25		(1.000	%)		Quarterly		12/20/23	BNP		0.777	%		USD	5,627,000		(60,086	)		(27,793	)		(32,293	)
Republic of Colombia 10.375%, due 01/23/33		(1.000	%)		Quarterly		12/20/23	CBNA		1.102	%		USD	589,000		2,874			4,733			(1,859	)
South Africa Government International Bond 5.500%, due 03/09/20		(1.000	%)		Quarterly		12/20/23	MSIP		2.020	%		USD	1,550,000		73,252			93,427			(20,175	)
Totals															$	1,025,554		$	1,555,767		$	(530,213	)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value		Upfront Premium (Received)			Unrealized Appreciation
Mexico Government International Bond 7.500%, due 04/08/33		1.000	%		Quarterly		06/20/20	BOA		0.492	%		USD	3,824,276	$	32,957	$	(38,756	)	$	71,713
Mexico Government International Bond 7.500%, due 04/08/33		1.000	%		Quarterly		09/20/20	JPMC		0.511	%		USD	3,824,276		36,174		(43,741	)		79,915
Totals															$	69,131	$	(82,497	)	$	151,628

OTC Credit Default Swaps on Credit Indices—Buy Protection (a)

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CMBX.NA.A.V9		(2.000	%)		Monthly		09/17/58	CBNA		0.000	%		USD	510,000	$	626		$	10,212		$	(9,586	)
CMBX.NA.A.V9		(2.000	%)		Monthly		09/17/58	CSI		0.000	%		USD	1,516,000		1,860			25,758			(23,898	)
CMBX.NA.A.V9		(2.000	%)		Monthly		09/17/58	CSI		0.000	%		USD	600,000		736			10,952			(10,216	)
CMBX.NA.A.V9		(2.000	%)		Monthly		09/17/58	CSI		0.000	%		USD	510,000		626			9,582			(8,956	)
CMBX.NA.A.V9		(2.000	%)		Monthly		09/17/58	GSI		0.000	%		USD	260,000		319			5,203			(4,884	)
CMBX.NA.AAA.V6		(0.500	%)		Monthly		05/11/63	DBAG		0.000	%		USD	1,670,000		(16,899	)		242			(17,141	)
CMBX.NA.AAA.V6		(0.500	%)		Monthly		05/11/63	DBAG		0.000	%		USD	2,340,000		(23,679	)		(883	)		(22,796	)
CMBX.NA.AAA.V6		(0.500	%)		Monthly		05/11/63	DBAG		0.000	%		USD	2,680,000		(27,119	)		744			(27,863	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	CSI		0.000	%		USD	1,610,000		(12,467	)		19,806			(32,273	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	DBAG		0.000	%		USD	1,280,000		(9,913	)		15,972			(25,885	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	MSIP		0.000	%		USD	900,000		(6,970	)		11,071			(18,041	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	MSIP		0.000	%		USD	1,090,000		(8,441	)		13,409			(21,850	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	MSIP		0.000	%		USD	1,960,000		(15,179	)		26,423			(41,602	)
CMBX.NA.BBB-.V6		(3.000	%)		Monthly		05/11/63	JPMC		0.000	%		USD	340,000		40,097			34,298			5,799
Totals															$	(76,403	)	$	182,789		$	(259,192	)

BHFTII-44

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premium (Received)			Unrealized Appreciation/ (Depreciation)
CMBX.NA.A.V10		2.000	%		Monthly		11/17/59	DBAG		0.000	%		USD	1,310,000	$	3,089		$	(59,736	)	$	62,825
CMBX.NA.A.V10		2.000	%		Monthly		11/17/59	DBAG		0.000	%		USD	660,000		1,556			(30,600	)		32,156
CMBX.NA.A.V8		2.000	%		Monthly		10/17/57	GSI		0.000	%		USD	670,000		(5,184	)		(38,376	)		33,192
CMBX.NA.A.V8		2.000	%		Monthly		10/17/57	MSIP		0.000	%		USD	190,000		(1,470	)		(22,074	)		20,604
CMBX.NA.AAA.V7		0.500	%		Monthly		01/17/47	CSI		0.000	%		USD	5,000,000		58,350			(156,398	)		214,748
CMBX.NA.AM.V4		0.500	%		Monthly		02/17/51	DBAG		0.000	%		USD	2,370,000		(17,281	)		(359,977	)		342,696
CMBX.NA.BBB-.V10		3.000	%		Monthly		11/17/59	JPMC		0.000	%		USD	40,000		(2,022	)		(3,575	)		1,553
CMBX.NA.BBB-.V6		3.000	%		Monthly		05/11/63	CSI		0.000	%		USD	340,000		(40,097	)		(28,925	)		(11,172	)
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	CSI		0.000	%		USD	303,000		(18,109	)		(32,194	)		14,085
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	CSI		0.000	%		USD	1,260,000		(75,305	)		(112,944	)		37,639
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	DBAG		0.000	%		USD	718,000		(42,912	)		(88,116	)		45,204
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	DBAG		0.000	%		USD	860,000		(51,399	)		(94,403	)		43,004
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	JPMC		0.000	%		USD	272,000		(16,256	)		(24,444	)		8,188
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	MSIP		0.000	%		USD	250,000		(14,942	)		(24,041	)		9,099
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	MSIP		0.000	%		USD	280,000		(16,735	)		(34,918	)		18,183
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	MSIP		0.000	%		USD	290,000		(17,332	)		(37,644	)		20,312
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	MSIP		0.000	%		USD	320,000		(19,125	)		(32,777	)		13,652
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	MSIP		0.000	%		USD	500,000		(29,883	)		(53,964	)		24,081
Totals															$	(305,057	)	$	(1,235,106	)	$	930,049

Securities in the amount of $11,550 have been received at the custodian bank as collateral for OTC swap contracts.

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

Glossary of Abbreviations

Counterparties

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

Currencies

(ARS)—	Argentine Peso
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CLP)—	Chilean Peso
(EUR)—	Euro
(IDR)—	Indonesian Rupiah
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(NZD)—	New Zealand Dollar
(RUB)—	Russian Ruble
(SEK)—	Swedish Krona
(TRY)—	Turkish Lira
(TWD)—	Taiwanese Dollar
(USD)—	United States Dollar
(ZAR)—	South African Rand

BHFTII-45

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Glossary of Abbreviations—(Continued)

Index Abbreviations

(BADLAR)—	Buenos Aires Deposits of Large Amount Rate Index
(CDI)—	Brazil Interbank Deposit Rate
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(CMBX.NA.A)—	Markit North America A Rated CMBS Index
(CMBX.NA.AAA)—	Markit North America AAA Rated CMBS Index
(CMBX.NA.AM)—	Markit North America Mezzanine AAA Rated CMBS Index
(CMBX.NA.BBB-)—	Markit North America BBB- Rated CMBS Index
(CMT)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(CPI)—	U.S. Consumer Price Index
(CPTFE)—	Eurozone Harmonized Index of Consumer Prices ex- Tobacco
(ICE)—	Intercontinental Exchange, Inc.
(JIBAR)—	Johannesburg Interbank Agreed Rate
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(SOFR)—	Secured Overnight Financing Rate
(TIIE)—	Mexican Interbank Equilibrium Interest Rate

Other Abbreviations

(ACES)—	Alternative Credit Enhancement Securities
(CDO)—	Collateralized Debt Obligation
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(IRS)—	Interest Rate Swap
(REMIC)—	Real Estate Mortgage Investment Conduit

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,606,305,864	$	—	$	1,606,305,864
Corporate Bonds & Notes
Advertising		—		1,278,234		—		1,278,234
Aerospace/Defense		—		38,586,519		—		38,586,519
Agriculture		—		8,823,139		—		8,823,139
Airlines		—		20,089,148		—		20,089,148
Auto Manufacturers		—		60,451,162		—		60,451,162
Auto Parts & Equipment		—		5,648,484		—		5,648,484
Banks		—		296,038,012		40,000,000		336,038,012
Beverages		—		13,174,105		—		13,174,105
Biotechnology		—		7,083,540		—		7,083,540
Building Materials		—		1,691,514		—		1,691,514
Chemicals		—		3,042,899		—		3,042,899
Commercial Services		—		11,277,993		—		11,277,993
Computers		—		13,751,139		—		13,751,139
Diversified Financial Services		—		30,639,575		—		30,639,575
Electric		—		63,503,889		—		63,503,889
Electronics		—		3,775,071		—		3,775,071
Engineering & Construction		—		1,092,539		—		1,092,539
Environmental Control		—		2,821,165		—		2,821,165
Food		—		9,985,939		—		9,985,939
Forest Products & Paper		—		3,074,466		—		3,074,466
Gas		—		1,958,943		—		1,958,943
Healthcare-Products		—		20,533,623		—		20,533,623
Healthcare-Services		—		28,822,893		—		28,822,893
Holding Companies-Diversified		—		1,025,280		—		1,025,280

BHFTII-46

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Housewares	$	—	$	904,359	$	—	$	904,359
Insurance		—		8,339,326		—		8,339,326
Iron/Steel		—		2,146,774		—		2,146,774
Media		—		48,942,671		—		48,942,671
Mining		—		6,383,880		—		6,383,880
Miscellaneous Manufacturing		—		2,206,548		—		2,206,548
Office/Business Equipment		—		585,449		—		585,449
Oil & Gas		—		49,409,725		—		49,409,725
Oil & Gas Services		—		7,642,809		—		7,642,809
Packaging & Containers		—		2,195,659		—		2,195,659
Pharmaceuticals		—		39,708,667		—		39,708,667
Pipelines		—		64,744,487		—		64,744,487
Real Estate Investment Trusts		—		10,957,382		—		10,957,382
Retail		—		9,801,999		—		9,801,999
Semiconductors		—		30,550,856		—		30,550,856
Software		—		29,076,790		—		29,076,790
Telecommunications		—		69,811,803		—		69,811,803
Transportation		—		14,940,603		—		14,940,603
Trucking & Leasing		—		4,845,175		—		4,845,175
Total Corporate Bonds & Notes*		—		1,051,364,233		40,000,000		1,091,364,233
Total Asset-Backed Securities*		—		456,067,699		0		456,067,699
Total Municipals*		—		245,899,455		—		245,899,455
Total Mortgage-Backed Securities*		—		192,757,855		—		192,757,855
Total Foreign Government*		—		123,655,961		—		123,655,961
Floating Rate Loans
Aerospace/Defense		—		1,907,827		—		1,907,827
Building Materials		—		5,904,652		—		5,904,652
Commercial Services		—		—		5,344,119		5,344,119
Distribution/Wholesale		—		12,540,037		—		12,540,037
Distributors		—		556,139		—		556,139
Diversified Financial Services		—		—		21,429,942		21,429,942
Electric		—		2,419,547		—		2,419,547
Entertainment		—		6,405,619		—		6,405,619
Environmental Control		—		2,266,166		—		2,266,166
Holding Companies-Diversified		—		—		5,438,088		5,438,088
Iron/Steel		—		366,525		—		366,525
Lodging		—		2,289,934		—		2,289,934
Miscellaneous Manufacturing		—		1,707,187		—		1,707,187
Packaging & Containers		—		2,681,389		—		2,681,389
Pipelines		—		1,105,271		—		1,105,271
Real Estate Investment Trusts		—		2,686,936		—		2,686,936
Retail		—		2,014,508		—		2,014,508
Software		—		2,690,954		—		2,690,954
Telecommunications		—		2,698,024		—		2,698,024
Transportation		—		1,714,674		—		1,714,674
Total Floating Rate Loans		—		51,955,389		32,212,149		84,167,538
Total Escrow Shares*		—		—		1		1
Total Short-Term Investments*		—		220,608,175		—		220,608,175
Total Securities Lending Reinvestments*		—		125,037,395		—		125,037,395
Purchased Options
Foreign Currency Options at Value		—		786,825		—		786,825
Interest Rate Swaptions at Value		—		5,011,416		—		5,011,416
Options on Exchange-Traded Futures Contracts at Value		350,219		—		—		350,219
Total Purchased Options	$	350,219	$	5,798,241	$	—	$	6,148,460
Total Investments	$	350,219	$	4,079,450,267	$	72,212,150	$	4,152,012,636

BHFTII-47

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Collateral for Securities Loaned (Liability)	$	—		$	(124,989,809	)	$	—	$	(124,989,809	)
TBA Forward Sales Commitments	$	—		$	(191,312,690	)	$	—	$	(191,312,690	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	2,303,588		$	—	$	2,303,588
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(1,435,704	)		—		(1,435,704	)
Total Forward Contracts	$	—		$	867,884		$	—	$	867,884
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,541,732		$	—		$	—	$	1,541,732
Futures Contracts (Unrealized Depreciation)		(14,361,132	)		—			—		(14,361,132	)
Total Futures Contracts	$	(12,819,400	)	$	—		$	—	$	(12,819,400	)
Written Options
Foreign Currency Options at Value	$	—		$	(456,415	)	$	—	$	(456,415	)
Forward Volatility Agreements at Value		—			(166,606	)		—		(166,606	)
Interest Rate Swaptions at Value		—			(398,399	)		—		(398,399	)
Options on Exchange-Traded Futures Contracts at Value		(427,387	)		—			—		(427,387	)
Total Written Options	$	(427,387	)	$	(1,021,420	)	$	—	$	(1,448,807	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	635,484		$	—	$	635,484
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(328,541	)		—		(328,541	)
Total Centrally Cleared Swap Contracts	$	—		$	306,943		$	—	$	306,943
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	1,913,274		$	—	$	1,913,274
OTC Swap Contracts at Value (Liabilities)		—			(1,111,131	)		—		(1,111,131	)
Total OTC Swap Contracts	$	—		$	802,143		$	—	$	802,143

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 3 to Level 2 in the amount of $930,082 were due to the resumption of trading activity which resulted in the availability of significant observable inputs.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Investments in Securities	Balance as of December 31, 2017		Realized Gain/ (Loss)		Change in Unrealized (Depreciation)			Purchases		Sales			Transfers out of Level 3			Balance as of September 30, 2018		Change in Unrealized (Depreciation) from Investments Still Held at September 30, 2018
Asset-Backed Securities
Asset-Backed - Other	$	—	$	—	$	(32,654	)	$	32,654	$	—		$	—		$	0	$	(32,654	)
Corporate Bonds & Notes
Banks		—		—		—			40,000,000		—			—			40,000,000		—
Mortgage-Backed Securities
Commercial Mortgage-Backed Securities		930,082		—		—			—		—			(930,082	)		—		—
Floating Rate Loans
Commercial Services		—		—		—			5,492,000		(147,881	)		—			5,344,119		—
Diversified Financial Services		—		9,720		(6,677	)		23,312,742		(1,885,843	)		—			21,429,942		(6,677	)
Holding Companies-Diversified		—		—		—			6,081,065		(642,977	)		—			5,438,088		—
Escrow Shares		1		—		—			—		—			—			1		—
Total	$	930,083	$	9,720	$	(39,331	)	$	74,918,461	$	(2,676,701	)	$	(930,082	)	$	72,212,150	$	(39,331	)

BHFTII-48

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

	Fair Value at September 30, 2018		Valuation Technique(s)	Unobservable Input	Range				Weighted Average		Relationship Between Fair Value and Input; if input value increases then Fair Value:
Asset-Backed Securities
Asset-Backed - Other	$	0	Market Transaction Method	Aged Vendor Quote	$	0.00	$	0.00	$	0.00		Increase
Corporate Bonds & Notes
Banks		40,000,000	Market Transaction Method	Aged Broker Quote	$	100.00	$	100.00	$	100.00		Increase
Floating Rate Loans
Commercial Services		5,344,119	Market Transaction Method	Precedent Transaction	$	100.00	$	100.00	$	100.00		Increase
Diversified Financial Services		21,429,942	Market Transaction Method	Precedent Transaction	$	99.65	$	100.00	$	99.75		Increase
Holding Companies-Diversified		5,438,088	Market Transaction Method	Precedent Transaction	$	100.00	$	100.00	$	100.00		Increase
Escrow Shares
Savings & Loans		1	Residual Value	Expected Payments	$	0.00	$	0.00	$	0.00		Increase

BHFTII-49

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.1%
TransDigm Group, Inc. (a) (b)		52,851	$	19,676,427
Automobiles—0.6%
Tesla, Inc. (a) (b)		40,195		10,642,430
Banks—0.8%
First Republic Bank (a)		150,113		14,410,848
Beverages—2.6%
Constellation Brands, Inc. - Class A		225,809		48,688,937
Biotechnology—1.7%
BioMarin Pharmaceutical, Inc. (a) (b)		131,606		12,761,834
Vertex Pharmaceuticals, Inc. (b)		94,537		18,221,061
				30,982,895
Capital Markets—3.3%
CME Group, Inc. (a)		110,180		18,753,738
E*Trade Financial Corp. (b)		327,412		17,153,114
S&P Global, Inc.		127,933		24,996,829
				60,903,681
Chemicals—2.4%
DowDuPont, Inc. (a)		152,650		9,816,921
Praxair, Inc.		66,020		10,611,395
Sherwin-Williams Co. (The)		51,671		23,521,156
				43,949,472
Construction Materials—0.9%
Vulcan Materials Co. (a)		157,769		17,543,913
Diversified Financial Services—1.3%
Berkshire Hathaway, Inc. - Class B (b)		114,785		24,576,616
Diversified Telecommunication Services—0.4%
Zayo Group Holdings, Inc. (a) (b)		193,887		6,731,757
Entertainment—6.4%
Activision Blizzard, Inc. (a)		287,276		23,898,490
Electronic Arts, Inc. (b)		318,163		38,335,460
Netflix, Inc. (b)		151,426		56,653,009
				118,886,959
Equity Real Estate Investment Trusts—1.5%
SBA Communications Corp. (a) (b)		168,694		27,097,317
Health Care Equipment & Supplies—4.1%
Becton Dickinson & Co.		148,561		38,774,421
Boston Scientific Corp. (a) (b)		956,558		36,827,483
				75,601,904
Health Care Providers & Services—5.4%
Centene Corp. (b)		103,064		14,921,606
UnitedHealth Group, Inc.		320,383		85,234,693
				100,156,299
Hotels, Restaurants & Leisure—1.0%
Domino’s Pizza, Inc. (a)		63,902		18,838,310
Industrial Conglomerates—1.9%
Honeywell International, Inc.		105,918		17,624,755
Roper Technologies, Inc.		59,480		17,618,571
				35,243,326
Interactive Media & Services—9.9%
Alphabet, Inc. - Class A (b)		77,768		93,872,198
Facebook, Inc. - Class A (b)		241,429		39,705,413
Tencent Holdings, Ltd.		1,200,800		49,619,712
				183,197,323
Internet & Direct Marketing Retail—14.5%
Amazon.com, Inc. (b)		92,788		185,854,364
Booking Holdings, Inc. (a) (b)		26,279		52,137,536
MercadoLibre, Inc. (a)		85,891		29,243,309
				267,235,209
IT Services—9.2%
MasterCard, Inc. - Class A		205,624		45,773,958
PayPal Holdings, Inc. (b)		339,668		29,836,437
Visa, Inc. - Class A		625,631		93,900,957
				169,511,352
Life Sciences Tools & Services—1.8%
Illumina, Inc. (a) (b)		88,715		32,563,728
Machinery—1.3%
Xylem, Inc. (a)		292,288		23,345,043
Pharmaceuticals—0.9%
Zoetis, Inc. (a)		174,671		15,992,877
Professional Services—3.0%
CoStar Group, Inc. (b)		75,005		31,565,104
Equifax, Inc.		176,293		23,018,577
				54,583,681
Road & Rail—1.6%
Union Pacific Corp.		184,767		30,085,611
Semiconductors & Semiconductor Equipment—4.4%
ASML Holding NV		184,823		34,750,420
NVIDIA Corp.		99,029		27,829,130
Texas Instruments, Inc.		175,768		18,858,149
				81,437,699
Software—13.3%
Adobe Systems, Inc. (b)		157,931		42,633,473
Autodesk, Inc. (b)		185,724		28,993,374
Intuit, Inc. (a)		88,107		20,035,532
Microsoft Corp.		1,039,437		118,880,410

BHFTII-50

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Software—(Continued)
Salesforce.com, Inc. (a) (b)		213,603	$	33,969,285
				244,512,074
Specialty Retail—3.3%
Home Depot, Inc. (The)		102,977		21,331,685
Ulta Salon Cosmetics & Fragrance, Inc. (a) (b)		142,483		40,197,304
				61,528,989
Textiles, Apparel & Luxury Goods—1.1%
NIKE, Inc. - Class B		239,762		20,312,637
Total Common Stocks (Cost $1,191,616,508)				1,838,237,314
Preferred Stock—0.4%
Software—0.4%
Palantir Technologies, Inc. - Series I (b) (c) (d) (e) (Cost $15,555,194)		2,537,552		6,318,505
Short-Term Investment—0.1%
Repurchase Agreement—0.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $2,439,000; collateralized by U.S. Treasury Note at 2.375%, maturing 08/15/24, with a market value of $2,491,965.		2,438,797		2,438,797
Total Short-Term Investments (Cost $2,438,797)				2,438,797
Securities Lending Reinvestments (f)—13.9%
Bank Note—0.2%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (g)		4,000,000		4,000,000
Certificates of Deposit—4.7%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (g)		3,500,000		3,499,940
2.466%, 1M LIBOR + 0.250%, 03/20/19 (g)		3,000,000		2,999,844
Banco Santander S.A. 2.340%, 11/07/18		3,000,000		3,000,246
Bank of Montreal Zero Coupon, 10/31/18		4,989,344		4,990,312
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (g)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (g)		2,000,000		2,001,908
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (g)		2,500,000		2,499,493
2.500%, 02/01/19		1,000,000		999,986

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (g)		2,000,000	$	2,001,174
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (g)		1,000,000		1,000,297
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (g)		2,000,000		2,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (g)		1,500,000		1,500,537
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (g)		4,000,000		4,000,300
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (g)		3,000,000		3,000,120
Credit Industriel et Commercial Zero Coupon, 01/25/19		4,393,165		4,414,533
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		2,000,000		2,000,026
2.500%, 11/15/18		3,000,000		2,999,928
KBC Bank NV 2.400%, 12/27/18		5,000,000		5,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		7,000,000		7,000,014
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (g)		4,000,000		3,999,868
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (g)		1,000,000		999,921
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (g)		6,000,000		5,999,298
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (g)		2,000,000		1,999,906
Sumitomo Mitsui Trust Bank, Ltd (NY) 2.423%, 3M LIBOR + 0.090%, 10/18/18 (g)		3,000,377		2,999,979
Sumitomo Mitsui Trust Bank, Ltd. 2.290%, 1M LIBOR + 0.170%, 12/06/18 (g)		1,500,000		1,500,078
2.443%, 3M LIBOR + 0.110%, 10/11/18 (g)		1,500,000		1,500,011
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (g)		4,000,000		4,000,476
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (g)		4,000,000		4,000,456
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (g)		3,000,000		3,001,593
				86,910,240
Commercial Paper—1.2%
Bank of China, Ltd. 2.510%, 11/02/18		2,484,138		2,494,500
2.550%, 10/19/18		2,484,594		2,496,790
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (g)		4,000,000		4,002,044
Sheffield Receivables Co. 2.490%, 11/26/18		2,467,319		2,490,397
2.510%, SOFR + 0.350%, 11/28/18 (g)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		1,988,000		1,995,668
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (g)		5,000,000		5,004,615

BHFTII-51

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (g)		3,000,000	$	3,001,662
				21,985,813
Repurchase Agreements—5.0%
Citigroup Global Markets, Inc. Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $2,014,278; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $105,327; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $102,000.		100,000		100,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,200,784; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $4,284,001.		4,200,000		4,200,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $2,700,504; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $2,754,002.		2,700,000		2,700,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,000,747; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $4,080,000.		4,000,000		4,000,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $5,094,222; collateralized by various Common Stock with an aggregate market value of $5,566,613.		5,000,000		5,000,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $6,216,461; collateralized by various Common Stock with an aggregate market value of $6,880,727.		6,191,904		6,191,904
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $3,413,474; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $3,478,451.		3,412,848		3,412,848
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $1,272,171; collateralized by various Common Stock with an aggregate market value of $1,320,000.		1,200,000		1,200,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $7,273,436; collateralized by various Common Stock with an aggregate market value of $7,700,001.		7,000,000	$	7,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $10,004,803; collateralized by various Common Stock with an aggregate market value of $11,002,143.		10,000,000		10,000,000
NBC Global Finance, Ltd Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $4,589,213; collateralized by various Common Stock with an aggregate market value of $5,006,948.		4,500,000		4,500,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $11,446,166; collateralized by various Common Stock with an aggregate market value of $12,573,003.		11,300,000		11,300,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $5,573,054; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $6,108,566.		5,500,000		5,500,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $6,684,277; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,330,279.		6,600,000		6,600,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $8,650,319; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $9,489,337.		8,543,961		8,543,961
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $6,881,594; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,552,409.		6,800,000		6,800,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $2,815,834; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,109,816.		2,800,000		2,800,000
				91,848,713
Time Deposits—2.8%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		10,400,000		10,400,000

BHFTII-52

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Cooperative Rabobank UA New York 2.150%, 10/01/18		7,300,000	$	7,300,000
DZ Bank AG 2.150%, 10/01/18		7,400,000		7,400,000
Erste Group Bank AG 2.170%, 10/01/18		5,400,000		5,400,000
Nordea Bank New York 2.140%, 10/01/18		7,400,000		7,400,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		7,000,000		7,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		7,400,000		7,400,000
				52,300,000
Total Securities Lending Reinvestments (Cost $257,030,488)				257,044,766
Total Investments—114.1% (Cost $1,466,640,987)				2,104,039,382
Other assets and liabilities (net)—(14.1)%				(260,192,036	)
Net Assets—100.0%			$	1,843,847,346

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $250,312,814 and the collateral received consisted of cash in the amount of $256,955,649. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of September 30, 2018, the market value of restricted securities was $6,318,505, which is 0.3% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent 0.3% of net assets.
(f)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(g)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Restricted Securities	Acquisition Date		Shares		Cost		Value
Palantir Technologies, Inc. - Series I		02/07/14		2,537,552	$	15,555,194	$	6,318,505

BHFTII-53

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	19,676,427	$	—		$	—	$	19,676,427
Automobiles		10,642,430		—			—		10,642,430
Banks		14,410,848		—			—		14,410,848
Beverages		48,688,937		—			—		48,688,937
Biotechnology		30,982,895		—			—		30,982,895
Capital Markets		60,903,681		—			—		60,903,681
Chemicals		43,949,472		—			—		43,949,472
Construction Materials		17,543,913		—			—		17,543,913
Diversified Financial Services		24,576,616		—			—		24,576,616
Diversified Telecommunication Services		6,731,757		—			—		6,731,757
Entertainment		118,886,959		—			—		118,886,959
Equity Real Estate Investment Trusts		27,097,317		—			—		27,097,317
Health Care Equipment & Supplies		75,601,904		—			—		75,601,904
Health Care Providers & Services		100,156,299		—			—		100,156,299
Hotels, Restaurants & Leisure		18,838,310		—			—		18,838,310
Industrial Conglomerates		35,243,326		—			—		35,243,326
Interactive Media & Services		133,577,611		49,619,712			—		183,197,323
Internet & Direct Marketing Retail		267,235,209		—			—		267,235,209
IT Services		169,511,352		—			—		169,511,352
Life Sciences Tools & Services		32,563,728		—			—		32,563,728
Machinery		23,345,043		—			—		23,345,043
Pharmaceuticals		15,992,877		—			—		15,992,877
Professional Services		54,583,681		—			—		54,583,681
Road & Rail		30,085,611		—			—		30,085,611
Semiconductors & Semiconductor Equipment		81,437,699		—			—		81,437,699
Software		244,512,074		—			—		244,512,074
Specialty Retail		61,528,989		—			—		61,528,989
Textiles, Apparel & Luxury Goods		20,312,637		—			—		20,312,637
Total Common Stocks		1,788,617,602		49,619,712			—		1,838,237,314
Total Preferred Stock*		—		—			6,318,505		6,318,505
Total Short-Term Investment*		—		2,438,797			—		2,438,797
Total Securities Lending Reinvestments*		—		257,044,766			—		257,044,766
Total Investments	$	1,788,617,602	$	309,103,275		$	6,318,505	$	2,104,039,382
Collateral for Securities Loaned (Liability)	$	—	$	(256,955,649	)	$	—	$	(256,955,649	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2018 is not presented.

BHFTII-54

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investments—100.2% of Net Assets

Security Description	Principal Amount*		Value
Certificate of Deposit—26.7%
Bank of Montreal (Chicago) 2.283%, 1M LIBOR + 0.150%, 03/12/19 (a)		7,000,000	$	7,000,140
2.430%, 01/23/19		8,000,000		7,999,367
BNP Paribas S.A. (NY) 2.587%, 3M LIBOR + 0.250%, 04/08/19 (a)		7,000,000		7,005,363
Canadian Imperial Bank of Commerce (NY) 2.468%, 1M LIBOR + 0.310%, 07/16/19 (a)		7,000,000		7,007,560
Credit Industriel et Commercial (NY) 0.010%, 03/01/19		10,000,000		9,890,080
KBC Bank NV 2.180%, 10/05/18		15,000,000		14,999,898
2.370%, 12/10/18		10,000,000		9,998,570
Mitsubishi UFJ Trust & Banking Corp. (NY) 2.300%, 12/10/18		10,000,000		10,000,148
Mizuho Bank, Ltd. (NY) 2.284%, 1M LIBOR + 0.170%, 12/03/18 (a)		10,000,000		9,991,493
Natixis S.A. 2.443%, 3M LIBOR + 0.100%, 11/01/18 (a)		12,000,000		12,000,594
Nordea Bank AB 2.400%, 01/28/19 (b)		14,240,000		14,239,373
Rabobank Nederland (NY) 2.313%, 1M LIBOR + 0.180%, 11/13/18 (a)		7,000,000		7,001,596
Royal Bank of Canada (NY) 2.370%, 1M LIBOR + 0.250%, 11/06/18 (a)		5,500,000		5,501,562
2.468%, 1M LIBOR + 0.310%, 08/16/19 (a)		8,000,000		8,006,128
2.472%, 3M LIBOR + 0.150%, 05/20/19 (a)		6,500,000		6,503,647
Skandinaviska Enskilda Banken AB 2.362%, 3M LIBOR + 0.020%, 10/19/18 (a)		6,000,000		5,999,958
Standard Chartered Bank 2.473%, 3M LIBOR + 0.100%, 03/25/19 (a)		7,000,000		7,000,000
Sumitomo Mitsui Banking Corp. (NY) 2.510%, 03/01/19		10,000,000		10,000,185
Sumitomo Mitsui Trust Bank, Ltd. (NY) 2.320%, 10/18/18		14,500,000		14,500,925
2.457%, 3M LIBOR + 0.120%, 10/05/18 (a)		7,000,000		7,000,159
2.515%, 3M LIBOR + 0.200%, 08/16/19 (a)		4,000,000		3,999,977
Svenska Handelsbanken AB 2.398%, 1M LIBOR + 0.180%, 10/26/18 (a)		8,000,000		8,001,176
Swedbank AB 2.230%, 10/10/18		10,000,000		10,000,221
Wells Fargo Bank N.A. 2.415%, 1M LIBOR + 0.250%, 11/19/18 (a)		7,000,000		7,002,380
				210,650,500
Commercial Paper—61.2%
ABN AMRO Funding USA LLC 2.121%, 10/12/18 (144A) (b)		15,000,000		14,987,003
2.249%, 11/16/18 (144A) (b)		10,000,000		9,968,980
Albion Capital Corp. 2.113%, 10/22/18 (144A) (b)		12,000,000		11,982,352
Antalis S.A. Zero Coupon, 10/01/18 (144A) (b)		11,000,000		10,998,047
Bayeriche Landesbank (NY) 2.626%, 01/02/19 (b)		7,000,000		6,954,379

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Bedford Row Funding Corp. 2.401%, 1M LIBOR + 0.270%, 02/11/19 (144A) (a)		8,000,000	$	8,005,888
Bennington Sark Capital Co. LLC 2.226%, 10/15/18 (144A) (b)		8,000,000		7,991,477
BPCE 2.498%, 10/31/18 (144A) (b)		4,000,000		3,991,992
Caisse des Depots et Consignations 1.998%, 10/16/18 (b)		10,000,000		9,989,140
Cancara Asset Securitisation LLC 2.277%, 12/06/18 (b)		10,000,000		9,955,323
CDP Financial, Inc. 1.453%, 10/03/18 (144A) (b)		25,000,000		24,992,517
Commonwealth Bank of Australia 2.300%, 1M LIBOR + 0.190%, 10/05/18 (144A) (a)		3,000,000		3,000,069
Crown Point Capital LLC 2.226%, 10/15/18 (144A) (b)		7,000,000		6,992,751
2.400%, 12/03/18 (144A) (b)		10,000,000		10,002,027
2.450%, 11/05/18 (144A) (b)		9,000,000		9,002,077
Danske Corp. 2.202%, 10/26/18 (144A) (b)		8,000,000		7,986,068
DZ Bank AG Zero Coupon, 10/01/18 (144A) (b)		20,000,000		19,996,417
Erste Abwicklungsanstalt 2.189%, 11/16/18 (144A) (b)		16,000,000		15,950,913
Federation des Caisses Desjardins du Quebec 2.368%, 1M LIBOR + 0.220%, 08/13/19 (144A) (a)		5,300,000		5,302,141
HSBC Bank plc 2.621%, 3M LIBOR + 0.240%, 03/27/19 (144A) (a)		5,000,000		5,003,869
HSBC USA, Inc. 1.720%, 10/05/18 (144A) (b)		8,000,000		7,996,562
ING U.S. Funding LLC 2.436%, 3M LIBOR + 0.100%, 04/12/19 (a)		8,000,000		8,001,241
2.499%, 3M LIBOR + 0.160%, 01/07/19 (a)		5,000,000		5,001,465
JP Morgan Securities LLC 2.555%, 01/28/19 (144A) (b)		5,000,000		4,958,300
Landesbank Baden-Wuettertemberg 1.105%, 10/02/18 (b)		20,000,000		19,995,064
Lloyds Bank plc 2.334%, 1M LIBOR + 0.220%, 01/02/19 (a)		7,000,000		7,003,703
LMA S.A. & LMA Americas 2.465%, 11/21/18 (144A) (b)		8,000,000		7,973,000
Matchpoint Finance plc Zero Coupon, 10/01/18 (144A) (b)		4,069,000		4,068,251
Mizuho Bank, Ltd. (NY) 2.479%, 01/30/19 (144A) (b)		10,000,000		9,916,472
National Australia Bank, Ltd. 2.364%, 1M LIBOR + 0.250%, 04/02/19 (144A) (a)		8,000,000		8,008,176
2.398%, 1M LIBOR + 0.250%, 11/13/18 (144A) (a)		8,000,000		8,002,544
National Securities Clearing Corp. 2.552%, 03/27/19 (144A) (b)		7,000,000		6,911,100
Nationwide Building Society 2.189%, 10/24/18 (144A) (b)		15,000,000		14,975,625
Nestle Capital Corp. 2.411%, 12/11/18 (144A) (b)		8,000,000		7,962,507

BHFTII-55

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Nieuw Amsterdam Receivables Corp. 1.474%, 10/03/18 (144A) (b)		8,000,000	$	7,997,600
2.305%, 12/03/18 (144A) (b)		10,000,000		9,956,953
Old Line Funding LLC 2.269%, 12/10/18 (144A) (b)		10,000,000		9,953,828
2.287%, 12/06/18 (144A) (b)		8,958,000		8,918,991
2.582%, 1M LIBOR + 0.340%, 10/29/18 (144A) (a)		8,500,000		8,502,771
Regency Markets No. 1 LLC 2.046%, 10/16/18 (144A) (b)		17,000,000		16,981,351
Starbird Funding Corp. 2.324%, 12/17/18 (144A) (b)		16,000,000		15,917,049
Suncorp Group, Ltd. 2.537%, 01/09/19 (144A) (b)		10,000,000		9,927,900
Toronto-Dominion Bank 2.344%, 11/30/18 (144A) (b)		10,000,000		10,002,200
2.363%, 1M LIBOR + 0.230%, 11/08/18 (144A) (a)		7,000,000		7,001,897
2.390%, 1M LIBOR + 0.280%, 11/05/18 (144A) (a)		8,000,000		8,002,456
UBS AG 2.502%, 1M LIBOR + 0.260%, 08/28/19 (144A) (a)		5,500,000		5,501,172
2.514%, 1M LIBOR + 0.400%, 07/02/19 (144A) (a)		5,000,000		5,007,125
2.521%, 3M LIBOR + 0.180%, 08/01/19 (144A) (a)		5,000,000		5,001,622
2.662%, 1M LIBOR + 0.420%, 05/31/19 (144A) (a)		7,000,000		7,010,682
2.667%, 3M LIBOR + 0.330%, 04/04/19 (144A) (a)		5,000,000		5,006,008
United Overseas Bank, Ltd. 2.436%, 12/03/18 (144A) (b)		8,000,000		7,966,472
Victory Receivables Corp. 2.250%, 11/09/18 (144A) (b)		10,000,000		9,973,937
				482,457,454
Repurchase Agreements—12.3%
Bank of America Securities, Inc. Repurchase Agreement dated 09/28/18 at 2.250%, due on 10/01/18 with a maturity value of $27,005,063; collateralized by U.S. Treasury Note at 4.000%, maturing 08/15/18, with a market value of $27,551,130.		27,000,000		27,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
JPMorgan Securities, Inc. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $70,013,067; collateralized by U.S. Treasury Note at 2.000%, maturing 10/01/18, with a market value of $71,399,477.		70,000,000	$	70,000,000
				97,000,000
Total Short-Term Investments (Cost $790,087,497)				790,107,954
Total Investments—100.2% (Cost $790,087,497)				790,107,954
Other assets and liabilities (net)—(0.2)%				(1,335,191	)
Net Assets—100.0%			$	788,772,763

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	The rate shown represents current yield to maturity.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $415,557,139, which is 52.7% of net assets.
(LIBOR)—	London Interbank Offered Rate

BHFTII-56

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Total Short-Term Investments*		—		790,107,954		—		790,107,954
Total Investments	$	—	$	790,107,954	$	—	$	790,107,954

* See Schedule of Investments for additional detailed categorizations.

BHFTII-57

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—93.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.2%
Rockwell Collins, Inc.		89,874	$	12,624,601
Auto Components—3.9%
Delphi Technologies plc		524,340		16,443,303
Gentex Corp. (a)		1,054,692		22,633,690
				39,076,993
Banks—5.9%
Fifth Third Bancorp		899,081		25,102,341
M&T Bank Corp.		133,306		21,934,169
Pinnacle Financial Partners, Inc. (a)		211,398		12,715,590
				59,752,100
Capital Markets—1.6%
Intercontinental Exchange, Inc.		210,935		15,796,922
Chemicals—7.7%
Axalta Coating Systems, Ltd. (b)		696,987		20,324,141
Celanese Corp. - Series A		323,400		36,867,600
Nutrien, Ltd.		349,952		20,192,230
				77,383,971
Construction & Engineering—4.2%
Fluor Corp.		383,583		22,286,172
Jacobs Engineering Group, Inc.		264,758		20,253,987
				42,540,159
Consumer Finance—2.1%
Synchrony Financial		681,900		21,193,452
Diversified Consumer Services—2.1%
H&R Block, Inc. (a)		812,195		20,914,021
Electronic Equipment, Instruments & Components—2.1%
Arrow Electronics, Inc. (b)		283,496		20,899,325
Equity Real Estate Investment Trusts—2.7%
Equity Commonwealth (b)		616,497		19,783,389
STORE Capital Corp.		281,171		7,813,742
				27,597,131
Food & Staples Retailing—3.0%
Kroger Co. (The) (a)		1,036,285		30,166,256
Health Care Providers & Services—1.1%
AmerisourceBergen Corp.		118,019		10,883,712
Insurance—11.7%
Alleghany Corp.		19,824		12,935,755
Aon plc		121,669		18,710,259
Arch Capital Group, Ltd. (b)		737,803		21,993,908
Fairfax Financial Holdings, Ltd.		10,210		5,544,196
Loews Corp.		299,610		15,049,410
Progressive Corp. (The)		231,834		16,469,487
Insurance—(Continued)
Torchmark Corp.		312,933		27,128,162
				117,831,177
Interactive Media & Services—5.4%
IAC/InterActiveCorp (a) (b)		166,602		36,105,985
TripAdvisor, Inc. (b)		357,762		18,270,905
				54,376,890
Internet & Direct Marketing Retail—4.9%
Expedia Group, Inc. (a)		92,045		12,010,032
Liberty Expedia Holdings, Inc. - Class A (b)		263,204		12,381,116
Qurate Retail, Inc. (b)		1,142,672		25,378,745
				49,769,893
Marine—2.4%
Kirby Corp. (a) (b)		298,774		24,574,161
Media—8.1%
CBS Corp. - Class B		417,743		23,999,335
GCI Liberty, Inc. - Class A (a) (b)		415,123		21,171,273
News Corp. - Class A		1,301,729		17,169,806
Omnicom Group, Inc. (a)		293,388		19,956,252
				82,296,666
Oil, Gas & Consumable Fuels—10.6%
Andeavor		136,524		20,956,434
Apache Corp. (a)		332,586		15,854,375
Cimarex Energy Co.		236,757		22,004,196
Devon Energy Corp.		569,375		22,740,837
Hess Corp. (a)		364,536		26,093,487
				107,649,329
Road & Rail—4.6%
AMERCO (a)		70,142		25,016,144
Ryder System, Inc.		292,635		21,382,840
				46,398,984
Semiconductors & Semiconductor Equipment—2.4%
Analog Devices, Inc. (a)		259,656		24,007,794
Specialty Retail—2.7%
AutoNation, Inc. (a) (b)		648,041		26,926,104
Trading Companies & Distributors—3.2%
Air Lease Corp. (a)		705,528		32,369,625
Total Common Stocks (Cost $665,898,363)				945,029,266

BHFTII-58

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investment—6.3%

Security Description	Principal Amount*		Value
Repurchase Agreement—6.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $64,233,007; collateralized by U.S. Treasury Note at 2.125%, maturing 09/30/24, with a market value of $65,513,381.		64,227,655	$	64,227,655
Total Short-Term Investments (Cost $64,227,655)				64,227,655
Securities Lending Reinvestments (c)—16.1%
Certificates of Deposit—9.5%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		2,500,000		2,499,958
2.466%, 1M LIBOR + 0.250%, 03/20/19 (d)		5,000,000		4,999,740
Banco Santander S.A. 2.340%, 11/07/18		3,000,000		3,000,246
Bank of Montreal Zero Coupon, 10/31/18		3,991,475		3,992,250
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (d)		4,000,000		4,003,816
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (d)		4,000,000		3,999,188
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (d)		2,000,000		2,001,174
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (d)		4,000,000		4,001,188
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (d)		1,500,000		1,500,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (d)		1,500,000		1,500,537
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		3,500,000		3,500,262
2.543%, 3M LIBOR + 0.200%, 04/05/19 (d)		2,000,000		2,001,532
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (d)		2,500,000		2,500,100
Credit Industriel et Commercial (NY) Zero Coupon, 01/25/19		4,442,527		4,464,135
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,000,000		1,000,013
2.500%, 11/15/18		5,000,000		4,999,880
KBC Bank NV 2.400%, 12/27/18		2,000,000		2,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		2,000,000		2,000,004
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		2,977,462		2,978,083
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (d)		2,000,000		1,999,934
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (d)		1,000,000		999,921
2.504%, 1M LIBOR + 0.370%, 02/14/19 (d)		4,000,000		4,002,676
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		3,000,000		2,999,835
Certificates of Deposit—(Continued)
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (d)		4,000,000		3,999,532
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (d)		2,000,000		1,999,906
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		5,000,000		5,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (d)		4,000,000		4,000,476
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		2,000,000		2,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (d)		7,000,000		7,000,798
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)		3,000,000		3,001,593
				95,946,773
Commercial Paper—1.9%
Bank of China, Ltd. 2.510%, 11/02/18		3,974,621		3,991,200
2.550%, 10/19/18		2,484,594		2,496,790
Sheffield Receivables Co. 2.490%, 11/26/18		1,973,855		1,992,318
2.510%, SOFR + 0.350%, 11/28/18 (d)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000		997,834
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		5,000,000		5,004,615
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (d)		4,000,000		4,002,216
				18,985,110
Repurchase Agreements—3.8%
Citigroup Global Markets, Inc.
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $2,014,278; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $1,053,267; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $800,149; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $816,000.		800,000		800,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $500,093; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $510,000.		500,000		500,000

BHFTII-59

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $900,168; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $918,000.		900,000	$	900,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $407,538; collateralized by various Common Stock with an aggregate market value of $445,329.		400,000		400,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $602,380; collateralized by various Common Stock with an aggregate market value of $666,748.		600,000		600,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $475,503; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $484,555.		475,416		475,416
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $8,832,029; collateralized by various Common Stock with an aggregate market value of $9,350,001.		8,500,000		8,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $15,007,204; collateralized by various Common Stock with an aggregate market value of $16,503,214.		15,000,000		15,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $917,843; collateralized by various Common Stock with an aggregate market value of $1,001,390.		900,000		900,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $810,348; collateralized by various Common Stock with an aggregate market value of $890,124.		800,000		800,000
Societe Generale Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,011,999; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $810,626; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519.		800,000		800,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $1,012,769; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $1,012,448; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $2,916,400; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,220,880.		2,900,000		2,900,000
				38,575,416
Time Deposits—0.9%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		4,000,000		4,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		2,000,000		2,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				9,000,000
Total Securities Lending Reinvestments (Cost $162,487,393)				162,507,299
Total Investments—116.0% (Cost $892,613,411)				1,171,764,220
Other assets and liabilities (net)—(16.0)%				(161,782,326	)
Net Assets—100.0%			$	1,009,981,894

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $158,700,643 and the collateral received consisted of cash in the amount of $162,413,950. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

BHFTII-60

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	945,029,266	$	—		$	—	$	945,029,266
Total Short-Term Investment*		—		64,227,655			—		64,227,655
Total Securities Lending Reinvestments*		—		162,507,299			—		162,507,299
Total Investments	$	945,029,266	$	226,734,954		$	—	$	1,171,764,220
Collateral for Securities Loaned (Liability)	$	—	$	(162,413,950	)	$	—	$	(162,413,950	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-61

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.1% of Net Assets

Security Description	Shares		Value
Australia—6.8%
Accent Group, Ltd.		90,942	$	107,158
Adairs, Ltd.		12,167		22,861
Adelaide Brighton, Ltd.		118,950		531,276
AED Oil, Ltd. (a) (b) (c) (d)		93,946		0
Ainsworth Game Technology, Ltd.		51,616		44,991
Alkane Resources, Ltd. (b)		120,355		20,965
ALS, Ltd.		82,785		534,162
Altium, Ltd.		31,832		629,166
AMA Group, Ltd.		111,029		89,086
Amaysim Australia, Ltd.		21,060		15,532
Ansell, Ltd.		36,143		659,771
AP Eagers, Ltd.		7,774		44,395
APN Outdoor Group, Ltd.		34,469		165,576
Appen, Ltd.		19,037		192,089
ARB Corp., Ltd.		27,756		382,348
Ardent Leisure Group		88,453		113,775
ARQ Group, Ltd.		41,278		70,542
Asaleo Care, Ltd.		51,178		26,816
Atlas Arteria, Ltd.		108,901		548,916
AUB Group, Ltd.		25,969		249,951
Aurelia Metals, Ltd. (b)		110,317		58,220
Ausdrill, Ltd.		186,432		237,473
Austal, Ltd.		81,889		116,546
Australian Agricultural Co., Ltd. (b)		192,359		178,686
Australian Finance Group, Ltd.		11,568		12,500
Australian Pharmaceutical Industries, Ltd.		174,311		217,237
Auswide Bank, Ltd.		9,275		36,973
Automotive Holdings Group, Ltd.		101,744		162,501
Aveo Group		113,281		167,423
AVJennings, Ltd.		10,332		4,937
Baby Bunting Group, Ltd.		5,851		9,855
Bapcor, Ltd.		39,977		220,306
Beach Energy, Ltd.		902,659		1,396,657
Beadell Resources, Ltd. (b)		102,327		4,363
Bega Cheese, Ltd.		77,553		381,703
Bellamy’s Australia, Ltd. (b)		19,257		142,352
Bingo Industries, Ltd.		30,588		69,464
Blackmores, Ltd.		4,835		461,071
Blue Sky Alternative Investments, Ltd.		6,725		7,701
Bravura Solutions, Ltd.		32,185		102,608
Breville Group, Ltd.		34,410		325,307
Brickworks, Ltd.		5,923		74,899
Bubs Australia, Ltd. (b)		5,279		2,419
Buru Energy, Ltd. (b)		72,570		13,897
BWX, Ltd.		2,270		5,908
Cabcharge Australia, Ltd.		55,813		91,582
Capitol Health, Ltd.		95,087		19,936
Capral, Ltd.		136,176		15,267
Cardno, Ltd. (b)		69,333		58,910
Carnarvon Petroleum, Ltd. (b)		282,013		81,471
carsales.com, Ltd.		79,391		827,000
Cash Converters International, Ltd. (b)		152,939		35,379
Cedar Woods Properties, Ltd.		27,273		113,344
Citadel Group, Ltd. (The)		2,117		12,376
Cleanaway Waste Management, Ltd.		883,001		1,195,821
Clinuvel Pharmaceuticals, Ltd.		5,706		90,555
Clover Corp., Ltd.		34,945		39,320

Security Description	Shares		Value
Australia—(Continued)
Codan, Ltd.		10,859	$	25,276
Collection House, Ltd.		19,217		21,527
Collins Foods, Ltd.		11,643		52,093
Cooper Energy, Ltd. (b)		552,999		182,214
Corporate Travel Management, Ltd.		22,148		486,075
Costa Group Holdings, Ltd.		57,589		296,620
Credit Corp. Group, Ltd.		13,415		215,797
CSG, Ltd. (b)		85,825		11,740
CSR, Ltd.		239,936		651,902
Cudeco, Ltd. (a) (b) (c) (d)		51,210		6,526
Data #3, Ltd.		55,471		59,363
Decmil Group, Ltd. (b)		65,887		36,602
Dicker Data, Ltd.		5,634		12,097
Domain Holdings Australia, Ltd.		96,746		244,072
Domino’s Pizza Enterprises, Ltd.		5,908		227,960
Doray Minerals, Ltd. (b)		44,069		10,985
Downer EDI, Ltd.		181,569		1,032,539
DuluxGroup, Ltd.		144,897		800,597
DWS, Ltd.		36,847		31,587
Eclipx Group, Ltd.		7,140		13,231
Elders, Ltd.		32,731		167,704
Energy Resources of Australia, Ltd. (b)		51,910		14,256
Energy World Corp., Ltd. (b)		325,379		44,658
EQT Holdings, Ltd.		3,062		52,222
ERM Power, Ltd.		49,991		60,889
Estia Health, Ltd.		8,310		14,250
Euroz, Ltd.		23,559		21,456
Event Hospitality and Entertainment, Ltd.		38,556		412,493
Fairfax Media, Ltd.		967,464		576,636
FAR, Ltd. (b)		653,097		54,058
Finbar Group, Ltd.		6,909		4,444
Fleetwood Corp., Ltd.		35,042		59,451
FlexiGroup, Ltd.		60,577		83,824
G8 Education, Ltd.		158,694		229,360
Galaxy Resources, Ltd. (b)		98,235		176,026
Galilee Energy, Ltd. (b)		43,169		22,156
Gateway Lifestyle		49,118		79,533
Genworth Mortgage Insurance Australia, Ltd.		42,575		75,717
Global Construction Services, Ltd.		9,380		4,746
Gold Road Resources, Ltd. (b)		132,712		65,231
GrainCorp, Ltd. - Class A		83,590		476,824
Grange Resources, Ltd.		120,000		19,554
Greencross, Ltd.		21,736		66,393
Greenland Minerals Ltd. (b)		349,524		20,213
GUD Holdings, Ltd.		39,734		416,068
GWA Group, Ltd.		92,856		209,554
Hansen Technologies, Ltd.		50,238		134,825
Harvey Norman Holdings, Ltd.		21,381		54,403
Healthscope, Ltd.		16,123		24,445
Hills, Ltd. (b)		80,453		10,634
Horizon Oil, Ltd. (b)		652,736		70,484
HT&E, Ltd.		109,386		237,115
IDM International, Ltd. (a) (b) (c) (d)		1,969		0
IDP Education, Ltd.		1,987		14,810
Iluka Resources, Ltd.		35,317		252,972
Imdex, Ltd. (b)		100,165		86,183
IMF Bentham, Ltd.		49,173		107,695

BHFTII-62

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Australia—(Continued)
Independence Group NL		112,057	$	375,419
Infigen Energy, Ltd. (b)		343,467		146,104
Infomedia, Ltd.		131,353		124,387
Inghams Group, Ltd.		61,587		172,765
Integral Diagnostics, Ltd.		6,767		13,415
Integrated Research, Ltd.		28,972		57,179
International Ferro Metals, Ltd. (a) (b) (c) (d)		82,765		0
Invocare, Ltd.		38,500		343,478
IOOF Holdings, Ltd.		118,246		695,805
IPH, Ltd.		31,372		136,496
Iress, Ltd.		54,057		496,727
iSelect, Ltd.		46,213		23,476
iSentia Group, Ltd.		28,120		6,694
Japara Healthcare, Ltd.		32,040		32,078
JB Hi-Fi, Ltd.		46,350		839,728
Jumbo Interactive, Ltd.		12,118		66,454
Jupiter Mines, Ltd.		53,689		13,197
K&S Corp., Ltd.		1,802		1,952
Karoon Gas Australia, Ltd. (b)		75,600		60,639
Kingsgate Consolidated, Ltd. (b)		121,238		18,745
Kingsrose Mining, Ltd. (b)		102,961		4,392
Kogan.com, Ltd.		8,313		33,847
Lifestyle Communities, Ltd.		7,615		33,278
Link Administration Holdings, Ltd.		103,225		579,176
Lovisa Holdings, Ltd.		11,216		83,237
Lynas Corp., Ltd. (b)		50,144		57,820
MACA, Ltd.		56,351		49,469
Macmahon Holdings, Ltd. (b)		380,170		71,448
Magellan Financial Group, Ltd.		17,928		356,260
MaxiTRANS Industries, Ltd.		59,013		21,958
Mayne Pharma Group, Ltd. (b)		452,144		424,105
McMillan Shakespeare, Ltd.		29,453		361,889
McPherson’s, Ltd.		34,460		39,361
Medusa Mining, Ltd. (b)		60,972		16,530
Metals X, Ltd.		84,827		36,124
Metcash, Ltd.		385,184		833,793
Mincor Resources NL (b)		105,687		28,945
Mineral Resources, Ltd.		41,091		471,920
MMA Offshore, Ltd. (b)		200,470		35,497
Moelis Australia, Ltd.		4,454		17,545
Monadelphous Group, Ltd.		40,177		464,799
Monash IVF Group, Ltd.		21,931		17,358
Money3 Corp., Ltd.		25,929		41,234
Morning Star Gold NL (a) (b) (c) (d)		33,455		0
Mortgage Choice, Ltd.		48,689		48,014
Mount Gibson Iron, Ltd.		382,742		127,210
Myer Holdings, Ltd.		355,143		130,918
MYOB Group, Ltd.		110,434		240,921
MyState, Ltd.		3,899		13,614
Navigator Global Investments, Ltd.		45,623		175,467
Navitas, Ltd.		85,117		274,182
NetComm Wireless, Ltd. (b)		18,166		9,126
New Hope Corp., Ltd.		12,312		35,145
nib holdings, Ltd.		171,993		727,210
Nick Scali, Ltd.		16,348		76,089
Nine Entertainment Co. Holdings, Ltd.		178,126		290,328
Northern Star Resources, Ltd.		158,537		950,317

Security Description	Shares		Value
Australia—(Continued)
NRW Holdings, Ltd. (b)		62,111	$	93,836
Nufarm, Ltd.		96,965		472,220
OceanaGold Corp.		166,811		503,668
OFX Group, Ltd.		99,303		163,722
Onevue Holdings, Ltd. (b)		33,268		17,792
oOh!media, Ltd.		44,310		163,693
Orora, Ltd.		299,296		717,235
OZ Minerals, Ltd.		134,369		904,167
Pacific Current Group, Ltd.		5,535		25,921
Pacific Niugini, Ltd. (b)		61,527		7,757
Pacific Smiles Group, Ltd.		13,431		15,090
Pact Group Holdings, Ltd.		5,137		13,764
Panoramic Resources, Ltd. (b)		167,563		66,625
Paragon Care, Ltd.		33,636		17,744
Peet, Ltd.		88,199		74,920
Pendal Group, Ltd.		32,196		204,534
Peninsula Energy, Ltd. (b)		11,352		2,206
Perpetual, Ltd.		17,753		543,859
Perseus Mining, Ltd. (b)		231,401		63,536
Platinum Asset Management, Ltd.		46,344		178,531
Pluton Resources, Ltd. (a) (b) (c) (d)		48,332		0
PMP, Ltd. (b)		158,703		21,792
Praemium, Ltd. (b)		61,841		49,602
Premier Investments, Ltd.		44,992		599,760
Primary Health Care, Ltd.		291,166		640,497
Prime Media Group, Ltd.		93,371		16,259
Pro Medicus, Ltd.		13,002		117,508
PWR Holdings, Ltd.		5,725		13,243
Qube Holdings, Ltd.		219,677		433,037
Quintis, Ltd. (a) (b) (c) (d)		106,522		5,193
RCR Tomlinson, Ltd.		113,813		88,372
Reckon, Ltd.		36,898		22,713
Regis Healthcare, Ltd.		29,394		61,586
Regis Resources, Ltd.		180,703		484,984
Reject Shop, Ltd. (The)		12,421		42,553
Resolute Mining, Ltd.		277,334		217,101
Retail Food Group, Ltd.		64,643		22,188
Ridley Corp., Ltd.		123,003		135,614
RPMGlobal Holdings, Ltd. (b)		4,190		2,051
Ruralco Holdings, Ltd.		9,291		19,545
Salmat, Ltd.		45,807		18,214
Sandfire Resources NL		40,717		217,974
Saracen Mineral Holdings, Ltd. (b)		349,701		470,843
SeaLink Travel Group, Ltd.		7,812		24,277
Select Harvests, Ltd.		35,131		135,107
Senex Energy, Ltd. (b)		311,194		112,453
Servcorp, Ltd.		21,215		61,000
Service Stream, Ltd.		62,705		81,680
Seven Group Holdings, Ltd.		8,590		140,537
Seven West Media, Ltd.		408,410		295,614
SG Fleet Group, Ltd.		14,799		40,330
Sigma Healthcare, Ltd.		560,969		253,552
Silver Chef, Ltd.		8,928		13,491
Silver Lake Resources, Ltd. (b)		112,092		41,650
SmartGroup Corp., Ltd.		22,008		189,128
Southern Cross Media Group, Ltd.		229,061		212,721
Spark Infrastructure Group		444,329		717,899

BHFTII-63

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Australia—(Continued)
SpeedCast International, Ltd.		60,891	$	175,967
St. Barbara, Ltd.		201,372		507,110
Stanmore Coal, Ltd. (b)		19,719		12,546
Steadfast Group, Ltd.		198,774		409,417
Strike Energy, Ltd. (b)		207,173		20,116
Sundance Energy Australia, Ltd. (b)		2,046,163		119,776
Sunland Group, Ltd.		40,150		46,038
Super Retail Group, Ltd.		65,652		419,935
Superloop, Ltd.		10,345		16,599
Syrah Resources, Ltd. (b)		53,924		89,325
Tassal Group, Ltd.		80,622		262,880
Technology One, Ltd.		85,252		342,699
Thorn Group, Ltd.		62,916		27,051
Tiger Resources, Ltd. (a) (b) (c) (d)		591,241		2,217
Troy Resources, Ltd. (b)		106,145		7,666
Villa World, Ltd.		27,402		41,329
Village Roadshow, Ltd. (b)		38,999		70,171
Virgin Australia Holdings, Ltd. (b)		442,369		70,088
Virgin Australia International Holding, Ltd. (a) (b) (c) (d)		968,773		1
Virtus Health, Ltd.		37,091		150,123
Vista Group International, Ltd.		24,156		61,959
Vita Group, Ltd.		18,112		13,334
Vocus Group, Ltd. (b)		81,602		193,480
Watpac, Ltd. (b)		37,999		18,805
Webjet, Ltd.		30,172		335,944
Western Areas, Ltd.		118,029		225,575
Westgold Resources, Ltd. (b)		37,679		34,489
Whitehaven Coal, Ltd.		39,856		156,180
WorleyParsons, Ltd.		46,235		680,451
WPP AUNZ, Ltd.		131,382		81,950
				45,948,801
Austria—1.3%
A-TEC Industries AG (a) (b) (d)		1		0
Agrana Beteiligungs AG		5,812		130,277
ams AG (b)		12,258		685,153
Andritz AG		13,228		771,742
Austria Technologie & Systemtechnik AG		14,133		326,529
CA Immobilien Anlagen AG		20,949		748,556
DO & Co. AG		1,944		169,149
EVN AG		12,657		247,841
FACC AG		3,854		87,756
Flughafen Wien AG		267		10,875
IMMOFINANZ AG (b)		19,641		513,827
Kapsch TrafficCom AG		1,870		77,730
Lenzing AG		3,209		335,418
Mayr Melnhof Karton AG		3,211		403,376
Oberbank AG		198		20,460
Oesterreichische Post AG		10,088		421,669
Palfinger AG		5,204		173,922
POLYTEC Holding AG (e)		8,428		107,244
Porr AG		2,048		60,649
Raiffeisen Bank International AG		5,910		169,945
Rosenbauer International AG		1,615		94,131
S IMMO AG		23,207		462,511
S&T AG (b)		4,539		132,800

Security Description	Shares		Value
Austria—(Continued)
Schoeller-Bleckmann Oilfield Equipment AG		3,509	$	384,801
Semperit AG Holding (b)		5,443		96,564
Strabag SE		6,827		269,504
Telekom Austria AG (b)		32,587		252,441
UBM Development AG		655		30,648
UNIQA Insurance Group AG		36,921		368,703
Vienna Insurance Group AG Wiener Versicherung Gruppe		4,893		139,607
Wienerberger AG		39,101		977,559
Zumtobel Group AG (b)		13,016		123,630
				8,795,017
Belgium—1.6%
Ackermans & van Haaren NV		7,373		1,283,156
AGFA-Gevaert NV (b)		67,517		309,626
Atenor		1,089		62,080
Banque Nationale de Belgique		88		265,622
Barco NV		4,866		651,144
Bekaert S.A.		11,685		290,295
Biocartis NV (144A) (b)		5,445		77,883
bpost S.A.		18,928		307,074
Cie d’Entreprises CFE		3,200		386,384
Cie Immobiliere de Belgique S.A.		1,276		77,037
D’ieteren S.A.		8,787		386,684
Deceuninck NV		27,313		68,023
Econocom Group S.A. (e)		39,556		128,593
Elia System Operator S.A.		10,586		681,973
Euronav NV		30,049		259,480
EVS Broadcast Equipment S.A.		4,761		94,359
Exmar NV (b) (e)		10,339		63,831
Fagron		12,062		233,169
Galapagos NV (b)		16,401		1,855,110
GIMV NV		1,544		84,331
Ion Beam Applications (b) (e)		6,507		132,909
Jensen-Group NV		738		29,475
Kinepolis Group NV		5,586		333,839
Lotus Bakeries NV		96		280,802
MDxHealth (b) (e)		8,434		27,204
Melexis NV		5,431		420,252
Nyrstar NV (b) (e)		26,926		63,924
Ontex Group NV (e)		15,235		324,447
Orange Belgium S.A.		13,209		207,657
Oxurion NV (b)		9,279		58,917
Picanol		1,096		106,891
Radisson Hospitality AB (b)		2,932		12,029
Recticel S.A.		18,423		202,271
Resilux NV		229		38,123
Roularta Media Group NV		1,629		31,961
Sioen Industries NV		3,002		83,569
Sipef S.A.		3,358		203,129
TER Beke S.A.		60		9,610
Tessenderlo Group S.A. (b)		13,457		499,610
Van de Velde NV		1,970		57,955
Viohalco S.A. (b)		45,397		160,625
				10,851,053

BHFTII-64

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Canada—8.6%
5N Plus, Inc. (b)		33,732	$	86,181
Absolute Software Corp.		18,754		108,750
Acadian Timber Corp.		3,800		53,603
Advantage Oil & Gas, Ltd. (b) (e)		91,030		253,713
Aecon Group, Inc.		30,622		384,775
AG Growth International, Inc. (e)		5,820		283,599
AGF Management, Ltd. - Class B		32,280		152,697
AGT Food & Ingredients, Inc.		7,901		107,842
Aimia, Inc. (b)		48,671		170,696
AirBoss of America Corp.		3,761		33,806
AKITA Drilling, Ltd. - Class A		3,414		15,594
Alamos Gold, Inc. - Class A		124,119		569,834
Alaris Royalty Corp.		16,654		261,611
Alcanna, Inc.		12,660		105,365
Alexco Resource Corp. (b)		22,734		23,409
Algoma Central Corp.		4,410		44,385
Alio Gold, Inc. (b)		5,966		4,757
Altius Minerals Corp.		12,660		123,694
Altus Group, Ltd.		14,488		343,342
Americas Silver Corp. (b)		4,400		10,390
Amerigo Resources, Ltd. (b)		35,000		20,865
Andrew Peller, Ltd. - Class A		11,417		145,226
Aritzia, Inc. (b)		11,500		152,336
Asanko Gold, Inc. (b)		23,027		18,184
Atco, Ltd. - Class I		3,156		92,238
Athabasca Oil Corp. (b)		144,824		178,276
ATS Automation Tooling Systems, Inc. (b)		36,533		679,381
AutoCanada, Inc. (e)		8,428		88,936
B2Gold Corp. (b)		251,245		571,873
Badger Daylighting, Ltd. (e)		12,862		294,751
Baytex Energy Corp. (b) (e)		166,118		482,284
Bellatrix Exploration, Ltd. (b) (e)		12,053		12,597
Birchcliff Energy, Ltd.		71,640		288,412
Bird Construction, Inc.		18,612		113,691
Black Diamond Group, Ltd. (b)		19,812		51,231
BlackPearl Resources, Inc. (b)		117,817		107,633
BMTC Group, Inc.		5,387		68,690
BNK Petroleum, Inc. (b)		17,500		5,758
Bonavista Energy Corp.		75,351		86,922
Bonterra Energy Corp.		12,499		185,794
Boralex, Inc. - Class A		18,354		256,201
Brookfield Real Estate Services, Inc.		3,500		45,388
BSM Technologies, Inc. (b)		15,600		12,923
Calfrac Well Services, Ltd. (b) (e)		35,593		119,318
Calian Group, Ltd.		2,846		66,102
Callidus Capital Corp.		4,100		6,444
Canaccord Genuity Group, Inc.		54,653		291,957
Canacol Energy, Ltd. (b)		37,461		116,880
Canadian Western Bank		32,028		845,550
Canfor Corp. (b)		17,141		319,557
Canfor Pulp Products, Inc.		15,297		289,680
CanWel Building Materials Group, Ltd.		19,304		83,693
Capital Power Corp.		41,208		909,565
Capstone Mining Corp. (b) (e)		117,839		72,073
Cardinal Energy, Ltd. (e)		32,459		133,942
Cargojet, Inc.		1,200		77,557
Cascades, Inc.		35,836		349,856

Security Description	Shares		Value
Canada—(Continued)
Celestica, Inc. (b)		38,585	$	417,918
Celestica, Inc. (U.S. Listed Shares) (b)		223		2,415
Centerra Gold, Inc. (b)		62,285		248,340
Cervus Equipment Corp.		2,998		31,659
CES Energy Solutions Corp.		68,937		227,362
Chesswood Group, Ltd.		2,000		18,287
Cineplex, Inc. (e)		19,436		526,660
Clairvest Group, Inc.		200		7,378
Clearwater Seafoods, Inc.		10,644		47,796
Cogeco Communications, Inc.		5,772		289,125
Cogeco, Inc.		2,309		104,148
Colliers International Group, Inc.		9,980		773,041
Computer Modelling Group, Ltd.		28,920		189,195
Conifex Timber, Inc. (b)		3,500		11,191
Continental Gold, Inc. (b) (e)		46,900		95,496
Copper Mountain Mining Corp. (b) (e)		63,622		58,123
Corby Spirit and Wine, Ltd.		3,957		61,761
Corridor Resources, Inc. (b)		21,385		11,258
Corus Entertainment, Inc. - B Shares (e)		31,990		103,773
Cott Corp.		44,379		716,372
Cott Corp. (U.S. Listed Shares)		2,000		32,300
Crew Energy, Inc. (b) (e)		69,029		100,472
CRH Medical Corp. (b)		27,305		108,658
Delphi Energy Corp. (b)		95,850		57,140
Denison Mines Corp. (b) (e)		247,548		162,905
Descartes Systems Group, Inc. (The) (b)		21,086		715,192
Detour Gold Corp. (b)		34,636		279,952
DHX Media, Ltd. (e)		41,896		60,331
DIRTT Environmental Solutions (b)		28,410		143,628
Dorel Industries, Inc. - Class B		12,134		215,033
DREAM Unlimited Corp. - Class A (b)		7,822		48,931
Dundee Precious Metals, Inc. (b)		45,872		107,963
E-L Financial Corp., Ltd.		177		111,717
Echelon Financial Holdings, Inc. (b)		900		8,584
ECN Capital Corp.		65,441		191,006
EcoSynthetix, Inc. (b)		800		1,133
Eldorado Gold Corp. (b) (e)		138,292		120,985
Element Fleet Management Corp.		2,165		11,146
Endeavour Silver Corp. (b) (e)		41,698		95,880
EnerCare, Inc.		31,725		710,813
Enerflex, Ltd.		29,289		374,828
Enerplus Corp.		53,164		656,498
Enghouse Systems, Ltd.		7,089		450,427
Ensign Energy Services, Inc.		51,526		248,525
Entertainment One, Ltd.		73,515		395,908
Epsilon Energy, Ltd. (b)		21,856		42,302
Equitable Group, Inc.		4,209		224,421
Essential Energy Services Trust (b) (e)		53,526		21,549
Evertz Technologies, Ltd.		10,149		129,176
Exchange Income Corp.		2,651		67,873
Exco Technologies, Ltd.		13,332		97,540
EXFO, Inc. (b)		85		320
Extendicare, Inc.		34,956		208,115
Fiera Capital Corp. (e)		16,619		160,574
Firm Capital Mortgage Investment Corp.		9,574		97,767
First Majestic Silver Corp. (b) (e)		37,960		215,420
First Mining Gold Corp. (b)		50,000		12,968

BHFTII-65

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Canada—(Continued)
First National Financial Corp.		4,907	$	110,551
FirstService Corp.		10,880		919,238
Fission Uranium Corp. (b) (e)		114,725		60,398
Fortress Global Enterprises, Inc. (b)		1,638		3,335
Fortuna Silver Mines, Inc. (b)		60,121		262,519
Freehold Royalties, Ltd.		35,012		301,965
Gamehost, Inc.		4,952		44,473
GDI Integrated Facility Services, Inc. (b)		1,400		20,106
Gear Energy, Ltd. (b)		34,663		31,398
Genesis Land Development Corp.		14,348		37,324
Genworth MI Canada, Inc. (e)		15,602		514,450
Gibson Energy, Inc.		29,744		470,230
Glacier Media, Inc. (b)		9,600		5,426
Gluskin Sheff & Associates, Inc.		12,233		141,305
GMP Capital, Inc.		28,336		50,018
Goeasy, Ltd.		3,895		154,063
Gran Tierra Energy, Inc. (b)		112,213		427,428
Granite Oil Corp. (e)		10,252		14,604
Great Canadian Gaming Corp. (b)		18,608		667,015
Great Panther Silver, Ltd. (b)		67,206		57,755
Guardian Capital Group, Ltd. - Class A		600		11,776
Guyana Goldfields, Inc. (b) (e)		57,547		126,976
Hanfeng Evergreen, Inc. (a) (b) (c) (d)		12,100		0
Heroux-Devtek, Inc. (b)		14,606		175,048
High Arctic Energy Services, Inc.		3,900		12,530
High Liner Foods, Inc. (e)		4,807		29,959
Home Capital Group, Inc. (b)		22,002		255,510
Horizon North Logistics, Inc. (e)		54,212		123,815
HudBay Minerals, Inc.		103,103		522,041
Hudson’s Bay Co. (e)		35,831		269,083
IAMGOLD Corp. (b)		152,782		561,851
IBI Group, Inc. (b)		5,900		20,692
Imperial Metals Corp. (b) (e)		18,151		27,684
Indigo Books & Music, Inc. (b)		1,986		21,526
Information Services Corp.		800		10,529
Innergex Renewable Energy, Inc.		40,708		409,081
InPlay Oil Corp. (b)		7,800		9,904
Interfor Corp. (b)		31,992		473,570
International Tower Hill Mines, Ltd. (b)		21,604		10,036
Intertain Group, Ltd. (The) (b)		800		7,866
Intertape Polymer Group, Inc.		20,313		301,475
Invesque, Inc.		9,800		78,008
Jamieson Wellness, Inc.		11,072		228,529
Just Energy Group, Inc. (e)		50,690		157,370
K-Bro Linen, Inc.		2,719		80,708
Kelt Exploration, Ltd. (b)		58,951		383,833
Kinaxis, Inc. (b)		7,097		533,683
Kingsway Financial Services, Inc. (b)		8,765		24,429
Kirkland Lake Gold, Ltd.		37,226		705,526
Knight Therapeutics, Inc. (b)		40,310		256,531
KP Tissue, Inc.		1,400		10,568
Labrador Iron Ore Royalty Corp.		21,800		474,599
Largo Resources, Ltd. (b)		83,173		233,746
Lassonde Industries, Inc. - Class A		500		91,561
Laurentian Bank of Canada		13,206		435,548
Leagold Mining Corp. (b) (e)		9,400		13,609
Leon’s Furniture, Ltd.		9,639		131,415

Security Description	Shares		Value
Canada—(Continued)
Lightstream Resources, Ltd. (a) (b) (c) (d)		108,373	$	0
Linamar Corp.		600		27,644
Lucara Diamond Corp. (e)		110,136		184,178
Lundin Gold, Inc. (b)		11,400		42,629
Magellan Aerospace Corp.		5,794		81,416
Mainstreet Equity Corp. (b)		2,561		95,171
Major Drilling Group International, Inc. (b)		36,670		137,692
Mandalay Resources Corp. (b) (e)		87,627		9,837
Manitok Energy, Inc. (a) (b) (c) (d)		122		0
Maple Leaf Foods, Inc.		14,680		353,006
Martinrea International, Inc.		32,289		329,727
Maxar Technologies, Ltd. (e)		5,602		184,500
Maxim Power Corp. (b)		2,800		5,159
Mediagrif Interactive Technologies, Inc.		4,176		35,176
Medical Facilities Corp.		12,861		142,883
MEG Energy Corp. (b)		66,854		415,622
Melcor Developments, Ltd.		3,120		34,614
Morguard Corp.		1,400		196,064
Morneau Shepell, Inc.		18,485		387,403
Mountain Province Diamonds, Inc.		1,600		3,369
MTY Food Group, Inc.		6,320		314,373
Mullen Group, Ltd.		37,792		449,121
Nevsun Resources, Ltd.		96,711		429,028
New Gold, Inc. (b)		118,248		93,379
NFI Group, Inc.		13,236		515,135
Norbord, Inc.		7,425		246,034
North American Construction Group, Ltd.		14,743		143,817
North West Co., Inc. (The)		16,971		369,469
Northland Power, Inc.		32,427		544,781
NuVista Energy, Ltd. (b)		59,117		343,264
Obsidian Energy, Ltd. (b)		163,188		152,872
Osisko Gold Royalties, Ltd.		30,681		232,783
Painted Pony Energy, Ltd. (b) (e)		38,738		98,371
Pan American Silver Corp.		49,527		730,069
Paramount Resources, Ltd. - Class A (b) (e)		19,290		225,957
Parex Resources, Inc. (b)		55,359		940,758
Parkland Fuel Corp.		25,863		869,208
Pason Systems, Inc.		22,516		341,492
Pengrowth Energy Corp. (b) (e)		183,295		158,937
Peyto Exploration & Development Corp.		12,744		109,814
Photon Control, Inc. (b)		20,200		28,150
PHX Energy Services Corp. (b)		12,350		30,214
Pivot Technology Solutions, Inc.		4,800		5,537
Pizza Pizza Royalty Corp.		6,998		51,795
Points International, Ltd. (b)		5,320		74,756
Polaris Infrastructure, Inc.		2,500		22,510
Pollard Banknote, Ltd.		1,400		26,945
Polymet Mining Corp. (b)		38,355		39,494
Precision Drilling Corp. (b)		103,898		358,754
Premium Brands Holdings Corp.		7,825		570,859
Pretium Resources, Inc. (b)		17,900		136,088
Pulse Seismic, Inc. (e)		15,720		28,114
Quarterhill, Inc. (e)		58,061		81,361
Questerre Energy Corp. - Class A (b) (e)		83,569		31,703
RB Energy, Inc. (b) (c)		76,741		31
Recipe Unlimited Corp.		4,150		93,465
Reitmans Canada, Ltd. - Class A		20,566		67,351

BHFTII-66

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Canada—(Continued)
Richelieu Hardware, Ltd.		18,490	$	428,019
Rocky Mountain Dealerships, Inc.		3,738		29,663
Rogers Sugar, Inc. (e)		35,106		150,573
Roxgold, Inc. (b)		42,400		26,918
Russel Metals, Inc.		24,422		506,724
Sabina Gold & Silver Corp. (b) (e)		57,206		53,147
Sandstorm Gold, Ltd. (b)		58,462		217,708
Savaria Corp.		9,600		148,573
Secure Energy Services, Inc.		55,376		362,700
SEMAFO, Inc. (b)		123,983		291,804
ShawCor, Ltd.		20,891		399,333
Sienna Senior Living, Inc.		14,276		189,219
Sierra Wireless, Inc. (b) (e)		16,910		340,779
Sleep Country Canada Holdings, Inc. (144A)		12,404		276,957
Solium Capital, Inc. (b)		3,317		29,044
Sprott Resource Holdings, Inc. (b)		5,636		6,545
Sprott, Inc.		60,427		140,816
SSR Mining, Inc. (b)		37,551		326,480
Stantec, Inc.		17,392		432,629
Stella-Jones, Inc.		10,990		367,907
STEP Energy Services, Ltd. (144A) (b)		6,800		30,482
Storm Resources, Ltd. (b)		11,300		23,971
Stornoway Diamond Corp. (b)		70,074		21,158
Strad Energy Services, Ltd. (b)		10,641		13,593
Street Capital Group, Inc. (b)		5,900		4,111
Stuart Olson, Inc.		11,157		49,235
SunOpta, Inc. (b)		26,392		193,498
Superior Plus Corp.		44,558		437,421
Surge Energy, Inc.		85,275		174,954
Tamarack Valley Energy, Ltd. (b)		69,684		271,366
Taseko Mines, Ltd. (b)		108,786		85,907
TeraGo, Inc. (b)		4,100		25,235
Teranga Gold Corp. (b)		24,518		67,955
Tervita Corp. (b) (e)		3,508		24,199
TFI International, Inc.		25,364		920,578
Theratechnologies, Inc. (b) (e)		11,600		77,953
Tidewater Midstream and Infrastructure, Ltd.		11,900		12,714
Timbercreek Financial Corp.		3,349		24,243
TMX Group, Ltd.		7,727		518,603
TORC Oil & Gas, Ltd.		47,624		243,715
Torex Gold Resources, Inc. (b)		18,090		153,639
Toromont Industries, Ltd.		10,424		538,854
Torstar Corp. - Class B		21,453		22,422
Total Energy Services, Inc.		17,786		149,542
TransAlta Corp.		91,004		512,212
TransAlta Renewables, Inc.		28,608		254,707
Transcontinental, Inc. - Class A		26,130		463,266
TransGlobe Energy Corp.		36,372		121,367
Trevali Mining Corp. (b) (e)		90,600		51,204
Trican Well Service, Ltd. (b)		101,707		181,894
Tricon Capital Group, Inc.		46,139		388,644
Trinidad Drilling, Ltd. (b) (e)		83,773		119,986
Trisura Group, Ltd. (b)		700		14,920
Uni-Select, Inc.		13,271		225,935
Valener, Inc.		16,303		240,951
Vecima Networks, Inc.		2,500		17,903
Wajax Corp.		7,885		159,452

Security Description	Shares		Value
Canada—(Continued)
Wesdome Gold Mines, Ltd. (b) (e)		51,707	$	141,712
Western Energy Services Corp. (b)		27,573		17,505
Western Forest Products, Inc.		145,247		237,271
WestJet Airlines, Ltd.		861		13,672
Westshore Terminals Investment Corp.		18,288		380,018
Whitecap Resources, Inc.		88,850		539,298
Winpak, Ltd.		8,852		326,489
Yamana Gold, Inc.		181,806		453,231
Yangarra Resources, Ltd. (b)		24,087		89,885
Yellow Pages, Ltd. (b) (e)		6,975		46,981
ZCL Composites, Inc.		9,681		54,639
Zenith Capital Corp. (a) (b) (c) (d)		12,830		805
				58,410,013
China—0.2%
APT Satellite Holdings, Ltd.		164,250		59,182
Asia Satellite Telecommunications Holdings, Ltd.		58,500		45,735
BeijingWest Industries International, Ltd. (b)		41,200		4,998
BOE Varitronix, Ltd.		137,000		45,327
Bund Center Investment, Ltd.		138,000		63,115
CGN Mining Co., Ltd.		145,000		6,669
China Chuanglian Education Financial Group, Ltd. (b)		336,000		3,451
China Display Optoelectronics Technology Holdings, Ltd.		136,000		11,112
China Gold International Resources Corp., Ltd. (b) (e)		79,013		113,780
China Ludao Technology Co., Ltd. (b)		56,000		9,019
China Sunsine Chemical Holdings, Ltd.		35,000		26,837
Chong Hing Bank, Ltd.		16,000		28,801
CITIC Telecom International Holdings, Ltd.		467,000		159,309
FIH Mobile, Ltd. (b)		799,000		91,808
First Sponsor Group, Ltd.		9,490		8,949
Fountain SET Holdings, Ltd.		422,000		56,941
Goodbaby International Holdings, Ltd.		193,000		77,142
Guangnan Holdings, Ltd.		264,000		29,630
Guotai Junan International Holdings, Ltd.		617,600		108,033
Microport Scientific Corp.		56,000		74,395
Morris Holdings, Ltd.		56,000		8,549
Nanfang Communication Holdings, Ltd.		24,000		16,800
Neo-Neon Holdings, Ltd. (b)		322,500		26,332
New Sports Group, Ltd. (b)		221,500		13,843
Shenwan Hongyuan HK, Ltd.		172,500		39,643
Sino Grandness Food Industry Group, Ltd. (b)		199,272		29,189
SITC International Holdings Co., Ltd.		223,000		179,910
				1,338,499
Colombia—0.0%
Frontera Energy Corp. (b)		3,075		43,471
Denmark—2.3%
ALK-Abello A/S (b)		1,831		305,674
Alm Brand A/S		28,684		245,144
Ambu A/S - Class B		47,740		1,146,288
Bang & Olufsen A/S (b)		10,209		235,591
Bavarian Nordic A/S (b)		10,666		280,920
Brodrene Hartmann A/S		663		36,441
Columbus A/S		20,865		53,526
D/S Norden A/S (b)		6,460		98,137

BHFTII-67

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Denmark—(Continued)
DFDS A/S		11,185	$	553,350
FLSmidth & Co. A/S		15,133		940,814
GN Store Nord A/S		44,270		2,156,119
H+H International A/S - Class B (b)		4,578		83,649
Harboes Bryggeri A/S - Class B		1,454		18,157
IC Group A/S		3,209		31,420
ISS A/S		11,330		398,194
Jeudan A/S		410		62,258
Jyske Bank A/S		17,351		839,973
Matas A/S		4,427		43,276
Nilfisk Holding A/S (b)		7,037		358,690
NKT A/S (b)		6,820		176,929
NNIT A/S (144A)		2,656		73,695
Parken Sport & Entertainment A/S		2,351		33,166
PER Aarsleff Holding A/S		8,472		320,416
Ringkjoebing Landbobank A/S		9,911		524,452
Rockwool International A/S - B Shares		2,187		936,008
Royal Unibrew A/S		15,546		1,279,741
RTX A/S		2,568		71,821
Santa Fe Group A/S (b)		7,121		18,830
Scandinavian Tobacco Group A/S (144A)		1,236		18,956
Schouw & Co. A/S		5,566		461,803
SimCorp A/S		12,900		1,115,802
Solar A/S - B Shares		2,435		152,373
Spar Nord Bank A/S		32,428		300,779
Sydbank A/S		26,018		765,109
TK Development A/S (b)		37,491		33,526
Topdanmark A/S		22,026		1,005,413
Tryg A/S		732		18,219
United International Enterprises		850		190,567
Veloxis Pharmaceuticals A/S (b) (e)		115,226		19,740
Vestjysk Bank A/S (b)		3,300		1,073
Zealand Pharma A/S (b)		7,520		123,080
				15,529,119
Finland—2.7%
Aktia Bank Oyj		9,111		96,819
Alma Media Oyj		22,695		167,733
Amer Sports Oyj (b)		47,651		1,947,257
Apetit Oyj		1,205		15,399
Asiakastieto Group Oyj (144A) (b)		345		11,220
Aspo Oyj		8,414		100,589
Atria Oyj		2,604		28,015
BasWare Oyj (b) (e)		3,525		145,704
Bittium Oyj (e)		8,034		57,813
Cargotec Oyj - B Shares		12,591		565,522
Caverion Oyj (b)		36,589		291,905
Citycon Oyj		146,997		306,429
Cramo Oyj		9,503		214,365
Elisa Oyj		14,986		635,608
F-Secure Oyj		35,820		129,239
Ferratum Oyj		2,093		36,406
Finnair Oyj		24,728		205,696
Fiskars Oyj Abp		17,515		359,126
HKScan Oyj - A Shares		6,704		16,968
Huhtamaki Oyj		34,101		1,092,104

Security Description	Shares		Value
Finland—(Continued)
Ilkka-Yhtyma Oyj		2,976	$	10,539
Kemira Oyj		41,153		554,504
Kesko Oyj - A Shares		1,323		69,331
Kesko Oyj - B Shares		21,481		1,166,936
Konecranes Oyj		16,662		637,313
Lassila & Tikanoja Oyj		12,398		233,184
Metsa Board Oyj		86,501		874,038
Metso Oyj		25,057		885,315
Nokian Renkaat Oyj		38,871		1,590,729
Olvi Oyj - A Shares		6,303		209,352
Oriola-KD Oyj - B Shares		53,692		176,002
Orion Oyj - Class A		8,256		311,314
Orion Oyj - Class B		7,084		268,179
Outokumpu Oyj		102,277		600,163
Outotec Oyj (b)		52,402		342,634
Ponsse Oyj		3,208		111,184
Poyry Oyj		14,295		125,786
Raisio Oyj - V Shares		55,399		180,759
Ramirent Oyj		31,090		251,222
Rapala VMC Oyj		8,902		37,066
Raute Oyj - A Shares		72		2,332
Revenio Group Oyj		587		10,632
Sanoma Oyj		31,912		314,001
Stockmann Oyj Abp - B Shares (b)		11,956		53,958
Technopolis Oyj		66,184		358,267
Teleste Oyj		2,149		17,216
Tieto Oyj		21,736		671,234
Tikkurila Oyj		12,873		201,763
Tokmanni Group Corp.		5,768		50,354
Uponor Oyj		19,661		256,907
Vaisala Oyj - A Shares		6,772		146,245
Valmet Oyj		28,977		645,665
YIT Oyj (e)		51,511		360,619
				18,148,660
France—4.1%
ABC Arbitrage		7,886		57,153
Actia Group		4,338		30,710
Air France-KLM (b)		48,793		507,410
Akka Technologies S.A.		3,269		236,741
Albioma S.A.		13,155		300,790
Altamir Amboise		9,152		164,702
Alten S.A.		7,312		751,179
Altran Technologies S.A.		66,322		574,839
Amplitude Surgical SAS (b)		2,894		10,080
APRIL S.A.		8,341		124,941
Assystem		4,398		148,219
Aubay		1,785		81,932
Axway Software S.A.		2,132		40,793
Bastide le Confort Medical		1,050		45,852
Beneteau S.A.		15,076		241,802
Bigben Interactive		4,507		55,720
Boiron S.A.		2,586		174,139
Bonduelle SCA		6,799		213,903
Bourbon S.A. (b) (e)		1,528		9,750
Burelle S.A.		117		171,709

BHFTII-68

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
France—(Continued)
Casino Guichard Perrachon S.A. (e)		6,523	$	273,801
Catering International Services		541		8,825
Cegedim S.A. (b)		2,643		84,648
CGG S.A. (b)		57,403		159,207
Chargeurs S.A.		7,605		186,962
Cie des Alpes		3,241		112,505
Cie Plastic Omnium S.A.		12,573		473,770
Coface S.A. (b)		11,856		112,461
Derichebourg S.A.		31,305		166,812
Devoteam S.A.		1,710		218,951
Edenred		28,830		1,097,559
Electricite de Strasbourg S.A.		160		20,993
Elior Group S.A. (144A)		20,121		311,491
Elis S.A.		9,839		231,420
Eramet		3,022		319,080
Esso S.A. Francaise		1,341		66,869
Etablissements Maurel et Prom (b)		5,328		33,848
Europcar Groupe S.A. (144A)		18,598		174,487
Eutelsat Communications S.A.		34,288		809,720
Exel Industries - A Shares		618		69,883
Fleury Michon S.A.		461		29,217
Fnac Darty S.A. (b)		1,367		107,762
Fnac Darty S.A. (b)		5,410		431,210
Gaztransport Et Technigaz S.A. (e)		5,461		413,452
GEA		165		18,200
Getlink SE		23,306		297,650
GL Events		3,903		88,685
Groupe Crit		1,062		87,378
Groupe Gorge		1,266		19,844
Groupe Open		1,736		50,663
Guerbet		2,188		165,014
Haulotte Group S.A.		5,337		72,650
HERIGE SADCS		235		8,047
HiPay Group S.A. (b)		1,527		24,261
ID Logistics Group (b)		582		104,333
Imerys S.A.		6,375		470,716
Ingenico Group S.A.		14,740		1,119,940
Interparfums S.A.		918		46,940
IPSOS		12,134		371,354
Jacquet Metal Service		7,099		169,791
Kaufman & Broad S.A.		5,125		240,387
Korian S.A.		21,040		765,778
Lagardere SCA		36,064		1,109,037
Lanson-BCC		15		554
Laurent-Perrier		1,367		174,584
Le Belier		299		13,192
Lectra		8,150		212,290
Linedata Services		1,090		48,027
LISI		8,732		314,790
LNA Sante S.A.		1,488		92,229
Maisons du Monde S.A. (144A)		6,434		187,794
Maisons France Confort S.A.		1,526		66,882
Manitou BF S.A.		3,893		143,961
Manutan International		589		50,173
Mersen S.A.		8,483		297,929
METabolic EXplorer S.A. (b)		6,035		14,329
Metropole Television S.A.		7,193		144,946

Security Description	Shares		Value
France—(Continued)
MGI Coutier		3,301	$	69,600
Mr. Bricolage		601		7,394
Neopost S.A.		12,528		380,451
Nexans S.A.		10,974		345,015
Nexity S.A.		12,502		690,331
Nicox (b)		1,834		13,659
NRJ Group		9,690		92,267
Oeneo S.A.		4,435		57,154
Onxeo S.A. (b) (e)		4,566		5,645
Onxeo S.A. (b) (e)		8,671		10,611
Parrot S.A. (b)		2,647		14,428
Pierre & Vacances S.A. (b)		2,596		84,703
Plastivaloire		1,576		22,861
Rallye S.A. (e)		9,791		114,568
Recylex S.A. (b) (e)		3,335		31,141
Rexel S.A.		75,141		1,127,761
Robertet S.A.		66		41,368
Rothschild & Co.		488		20,681
Rubis SCA		25,894		1,401,585
Samse S.A.		107		18,143
Sartorius Stedim Biotech		4,904		674,705
Savencia S.A.		2,303		175,411
Seche Environnement S.A.		1,555		48,563
Sequana S.A. (b)		10,224		4,243
Societe BIC S.A.		5,564		509,371
Societe des Bains de Mer et du Cercle des Etrangers a Monaco (b)		16		1,084
Societe Marseillaise du Tunnel Prado-Carenage S.A.		293		6,663
Societe pour l’Informatique Industrielle		713		22,183
Societe Television Francaise 1		21,284		224,258
Soitec (b)		5,935		410,639
Solocal Group (b)		161,345		187,136
Somfy S.A.		2,325		206,511
Sopra Steria Group		5,161		827,024
SPIE S.A.		16,223		322,605
Ste Industrielle d’Aviation Latecoere S.A. (b)		26,469		123,192
STEF S.A.		1,145		119,256
Sword Group		2,775		115,352
Synergie S.A.		3,366		126,865
Tarkett S.A.		5,421		138,715
Technicolor S.A. (b) (e)		88,305		105,706
Tessi S.A. (b)		678		108,633
TFF Group		996		50,110
Thermador Groupe		2,162		136,618
Total Gabon		324		58,104
Touax S.A. (b)		1,706		15,447
Trigano S.A.		3,132		342,539
Union Financiere de France BQE S.A.		1,257		40,409
Vallourec S.A. (b)		67,733		397,893
Valneva SE (b)		11,746		51,277
Vetoquinol S.A.		1,341		79,975
Vicat S.A.		5,373		326,913
VIEL & Cie S.A.		4,205		24,069
Vilmorin & Cie S.A.		2,414		168,449
Virbac S.A. (b)		724		120,190
Vranken-Pommery Monopole S.A.		958		26,803
				27,695,922

BHFTII-69

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Georgia—0.0%
Bank of Georgia Group plc		7,105	$	158,481
Germany—6.1%
Aareal Bank AG		26,928		1,125,809
Adler Modemaerkte AG		2,828		13,130
ADLER Real Estate AG		4,349		76,668
ADO Properties S.A. (144A)		5,349		320,316
ADVA Optical Networking SE (b)		13,833		108,469
AIXTRON SE (b)		21,680		219,004
Allgeier SE		2,942		114,800
Amadeus Fire AG		1,986		224,927
Aurubis AG		14,317		1,000,411
Basler AG		357		67,927
Bauer AG		4,696		88,491
BayWa AG		5,731		190,969
BayWa AG		305		10,901
Bechtle AG		10,952		1,111,999
Bertrandt AG		1,677		154,890
bet-at-home.com AG		519		35,881
Bijou Brigitte AG		1,603		72,367
Bilfinger SE		10,033		506,491
Borussia Dortmund GmbH & Co. KGaA (Xetra Exchange)		26,420		235,148
CANCOM SE		13,574		612,888
Carl Zeiss Meditec AG		7,610		640,251
CECONOMY AG		18,151		128,170
CENIT AG		3,413		65,559
CENTROTEC Sustainable AG		1,930		29,761
Cewe Stiftung & Co. KGaA		2,303		191,719
Comdirect Bank AG		13,399		171,618
CompuGroup Medical SE		7,545		435,904
Corestate Capital Holding S.A. (b)		472		21,904
CropEnergies AG		9,235		49,543
CTS Eventim AG & Co. KGaA		14,746		661,015
Data Modul AG		138		10,998
DEAG Deutsche Entertainment AG (b)		3,066		12,121
Delticom AG		1,562		15,710
Deutsche Beteiligungs AG		2,815		115,602
Deutsche Euroshop AG		11,450		370,638
Deutsche Pfandbriefbank AG (144A)		23,307		348,954
Deutz AG		35,346		314,765
DIC Asset AG		14,805		162,905
DMG Mori AG		8,384		429,563
Dr. Hoenle AG		2,084		185,344
Draegerwerk AG & Co. KGaA		1,062		63,465
Duerr AG		15,350		690,964
Eckert & Ziegler AG		1,268		65,361
Elmos Semiconductor AG		5,394		113,707
ElringKlinger AG		11,206		124,375
Energiekontor AG		1,301		23,032
Euromicron AG (b)		2,048		14,885
Fielmann AG		7,053		424,489
First Sensor AG		1,526		31,889
Francotyp-Postalia Holding AG		3,300		15,442
Freenet AG		49,368		1,186,498
FUCHS Petrolub SE		843		41,580
Gerresheimer AG		9,821		829,444
Gerry Weber International AG (b)		9,842		31,982

Security Description	Shares		Value
Germany—(Continued)
Gesco AG		4,563	$	164,945
GFT Technologies SE		5,932		79,126
Grand City Properties S.A.		17,766		460,491
GRENKE AG		3,342		398,189
H&R GmbH & Co. KGaA		4,195		37,845
Hamburger Hafen und Logistik AG		8,624		202,661
Heidelberger Druckmaschinen AG (b)		100,140		267,449
Hella GmbH & Co. KGaA		4,694		261,702
HolidayCheck Group AG (b)		7,854		29,143
Hornbach Baumarkt AG		1,543		47,065
Hornbach Holding AG & Co. KGaA		168		11,781
Hugo Boss AG		18,730		1,442,226
Indus Holding AG		9,327		579,260
Isra Vision AG		7,065		355,182
IVU Traffic Technologies AG		2,304		15,194
Jenoptik AG		15,954		587,745
K&S AG		59,335		1,245,304
Kloeckner & Co. SE		34,891		403,001
Koenig & Bauer AG		4,373		263,640
Krones AG		5,091		533,835
KSB SE & Co. KGaA		82		30,061
KWS Saat SE		745		287,607
LANXESS AG		18,700		1,369,571
LEG Immobilien AG		14,527		1,724,608
Leifheit AG		1,890		39,762
Leoni AG		12,471		513,693
LPKF Laser & Electronics AG (b)		4,316		38,388
Manz AG (b)		1,272		53,824
Medigene AG (b)		2,446		34,165
MLP SE		20,985		133,921
Nemetschek SE		6,154		899,900
Nexus AG		4,536		140,634
Nordex SE (b)		23,261		250,198
Norma Group SE		10,781		688,709
OHB SE		2,315		89,416
OSRAM Licht AG		12,909		513,232
Paragon AG		357		15,481
Patrizia Immobilien AG		19,307		370,647
Pfeiffer Vacuum Technology AG		2,392		355,208
PNE Wind AG		24,548		79,186
Progress-Werk Oberkirch AG		822		35,667
ProSiebenSat.1 Media SE		424		11,012
PSI Software AG		2,118		38,611
Puma SE		549		270,902
PVA TePla AG (b)		534		8,682
QSC AG		26,632		49,474
R Stahl AG (b)		1,594		48,442
Rational AG		390		282,496
Rheinmetall AG		12,940		1,352,750
Rhoen Klinikum AG		15,358		394,787
RIB Software SE		8,127		172,393
Rocket Internet SE (144A) (b)		13,297		416,222
SAF-Holland S.A.		22,056		333,246
Salzgitter AG		12,083		603,468
Schaltbau Holding AG (b)		2,019		59,527
Scout24 AG (144A)		10,890		507,777
Secunet Security Networks AG		72		9,525

BHFTII-70

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Germany—(Continued)
SHW AG		2,013	$	67,973
Siltronic AG		5,196		636,161
Sixt SE		4,968		618,340
SMA Solar Technology AG		3,992		93,533
SMT Scharf AG (b)		831		14,280
Softing AG		1,971		21,191
Software AG		18,372		837,619
Stabilus S.A.		5,948		491,213
STRATEC Biomedical AG		1,203		90,368
Stroeer SE & Co. KGaA		8,451		482,873
Suedzucker AG		26,310		349,613
Surteco SE		1,501		38,145
Suss Microtec AG (b)		6,216		100,919
TAG Immobilien AG		39,448		938,904
Takkt AG		11,656		184,688
Technotrans AG		2,427		92,988
Tele Columbus AG (144A) (b)		1,323		3,811
TLG Immobilien AG		15,689		409,489
Tom Tailor Holding SE (b)		8,518		39,787
Traffic Systems SE		1,794		34,583
VERBIO Vereinigte BioEnergie AG		4,981		33,955
Vossloh AG		4,712		245,200
VTG AG		4,846		296,514
Wacker Neuson SE		10,071		257,921
Washtec AG		3,431		301,157
Wuestenrot & Wuerttembergische AG		515		11,738
XING SE		988		337,826
Zeal Network SE		1,934		48,281
				40,998,689
Ghana—0.2%
Tullow Oil plc (b)		457,293		1,567,639
Greenland—0.0%
Gronlandsbanken A/S		17		1,578
Guernsey, Channel Islands—0.0%
Raven Russia, Ltd. (b)		72,992		36,335
Hong Kong—2.6%
Aeon Credit Service Asia Co., Ltd.		14,000		12,953
Agritrade Resources, Ltd.		630,000		137,654
Alco Holdings, Ltd.		136,000		19,290
Allan International Holdings		20,000		4,726
Allied Group, Ltd.		22,000		125,058
Allied Properties HK, Ltd.		944,024		206,238
APAC Resources, Ltd.		47,217		7,843
Applied Development Holdings, Ltd. (b)		390,000		32,382
Arts Optical International Holdings, Ltd. (c)		16,000		3,965
Asia Financial Holdings, Ltd.		254,000		155,546
Asia Standard International Group, Ltd.		296,000		61,010
Associated International Hotels, Ltd.		14,000		39,344
Auto Italia Holdings (b)		175,000		1,744
Ban Loong Holdings, Ltd. (b)		438,000		10,671
Bel Global Resources Holdings, Ltd. (a) (b) (c) (d)		520,000		0
Best Food Holding Co., Ltd.		112,000		15,993

Security Description	Shares		Value
Hong Kong—(Continued)
Bison Finance Group, Ltd. (b)		74,000	$	12,313
Bonjour Holdings, Ltd. (b)		615,000		18,092
Bossini International Holdings, Ltd.		302,000		10,959
Bright Smart Securities & Commodities Group, Ltd.		176,000		36,664
Brightoil Petroleum Holdings, Ltd. (a) (b) (c) (d)		664,000		23,856
Brockman Mining, Ltd. (b)		2,516,770		56,252
Burwill Holdings, Ltd. (b)		1,566,000		39,764
Cafe de Coral Holdings, Ltd.		116,000		265,483
Camsing International Holding, Ltd. (b)		100,000		86,476
Cash Financial Services Group, Ltd. (b)		288,000		3,117
Century City International Holdings, Ltd.		616,000		55,719
Chen Hsong Holdings		150,000		44,080
Cheuk Nang Holdings, Ltd.		95,574		55,793
Chevalier International Holdings, Ltd.		75,139		108,042
China Baoli Technologies Holdings, Ltd. (b)		285,000		21,422
China Energy Development Holdings, Ltd. (b)		3,670,000		54,363
China Flavors & Fragrances Co., Ltd.		71,446		24,453
China Goldjoy Group, Ltd.		1,368,000		78,613
China LNG Group, Ltd. (b)		184,000		27,259
China Medical & HealthCare Group, Ltd. (b)		400,000		13,033
China Motor Bus Co., Ltd.		1,200		14,871
China Soft Power Technology Holdings, Ltd. (b)		48,435		365
China Solar Energy Holdings, Ltd. (a) (b) (c) (d)		162,000		698
China Star Entertainment, Ltd. (b)		378,000		25,589
China Strategic Holdings, Ltd. (b)		3,402,500		30,850
China Ting Group Holdings, Ltd.		318,550		15,859
China Tonghai International Financial, Ltd. (b)		180,000		17,202
Chinese Estates Holdings, Ltd.		68,000		78,541
Chinney Investment, Ltd.		8,000		2,952
Chow Sang Sang Holdings International, Ltd.		119,000		231,615
Chuang’s China Investments, Ltd.		511,500		33,271
Chuang’s Consortium International, Ltd.		382,357		79,362
CK Life Sciences International Holdings, Inc.		1,594,000		97,758
CNT Group, Ltd.		246,000		11,313
Common Splendor International Health Industry Group, Ltd. (b)		518,000		52,983
Continental Holdings, Ltd. (b)		220,000		3,146
Convoy Global Holdings, Ltd. (a) (b) (c) (d)		1,314,000		10,508
Cowell e Holdings, Inc.		120,000		17,940
CP Lotus Corp. (b)		1,750,000		23,249
Crocodile Garments (b)		216,000		18,801
Cross-Harbour Holdings, Ltd. (The)		127,063		211,024
CSI Properties, Ltd.		2,574,023		116,778
CST Group, Ltd. (b)		8,984,000		29,834
Dah Sing Banking Group, Ltd.		172,671		345,548
Dah Sing Financial Holdings, Ltd.		66,260		423,433
Dan Form Holdings Co., Ltd.		62,000		33,266
Dickson Concepts International, Ltd.		131,000		58,703
Digital Domain Holdings, Ltd. (b)		2,520,000		34,438
DMX Technologies Group, Ltd. (a) (b) (c) (d)		186,000		2,776
Dynamic Holdings, Ltd.		20,000		16,052
Eagle Nice International Holdings, Ltd.		120,000		49,293
EcoGreen International Group, Ltd.		118,800		25,730
eForce Holdings, Ltd. (b)		128,000		2,778
Elegance Optical International Holdings, Ltd. (b)		96,000		9,440
Emperor Capital Group, Ltd.		726,000		36,642
Emperor Entertainment Hotel, Ltd.		235,000		45,026
Emperor International Holdings, Ltd.		529,250		139,512

BHFTII-71

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hong Kong—(Continued)
Emperor Watch & Jewellery, Ltd.		1,520,000	$	59,254
Enerchina Holdings, Ltd.		1,068,000		56,452
ENM Holdings, Ltd. (b)		556,000		55,651
Esprit Holdings, Ltd. (b) (e)		833,950		199,890
Fairwood Holdings, Ltd.		26,500		92,764
Far East Consortium International, Ltd.		535,269		284,499
Far East Holdings International, Ltd. (b)		150,000		9,360
First Pacific Co., Ltd.		188,000		92,447
Freeman FinTech Corp., Ltd. (b)		1,800,000		18,129
Future Bright Holdings, Ltd.		156,000		17,646
Future World Financial Holdings, Ltd. (b)		12,575		140
G-Resources Group, Ltd. (b)		10,474,800		88,364
GCL New Energy Holdings, Ltd. (b)		270,000		9,663
Get Nice Holdings, Ltd.		2,574,000		81,900
Giordano International, Ltd.		482,000		242,024
Global Brands Group Holding, Ltd. (b)		1,260,000		65,952
Glorious Sun Enterprises, Ltd.		393,000		43,610
Gold Peak Industries Holdings, Ltd.		277,714		26,607
Gold-Finance Holdings, Ltd. (b)		214,000		48,657
Golden Resources Development International, Ltd.		370,000		23,362
Good Resources Holdings, Ltd. (b)		420,000		10,199
GR Properties, Ltd. (b)		150,000		15,241
Great Eagle Holdings, Ltd.		39,571		197,133
Greentech Technology International, Ltd. (b)		360,000		3,544
Guoan International, Ltd. (b)		674,000		14,626
Haitong International Securities Group, Ltd.		498,448		174,539
Hang Lung Group, Ltd.		36,000		95,682
Hanison Construction Holdings, Ltd.		148,009		27,159
Hao Tian Development Group, Ltd. (b)		1,001,000		33,250
Harbour Centre Development, Ltd.		88,000		166,819
HKBN, Ltd.		203,500		348,760
HKR International, Ltd.		366,080		176,923
Hon Kwok Land Investment Co., Ltd.		140,000		69,917
Hong Kong Aircraft Engineering Co., Ltd.		8,800		78,464
Hong Kong Ferry Holdings Co., Ltd.		22,000		24,311
Hong Kong Finance Investment Holding Group, Ltd. (b)		262,000		35,142
Hong Kong International Construction Investment Management Group Co., Ltd.		98,000		22,650
Hong Kong Television Network, Ltd. (b)		165,000		53,038
Hongkong & Shanghai Hotels (The)		109,500		153,343
Hongkong Chinese, Ltd.		866,000		117,160
Hopewell Holdings, Ltd.		81,500		268,097
Hsin Chong Group Holdings, Ltd. (a) (b) (c) (d)		918,000		7,693
Huarong Investment Stock Corp., Ltd. (b)		175,000		8,641
Hung Hing Printing Group, Ltd.		252,000		39,631
Hutchison Telecommunications Hong Kong Holdings, Ltd.		526,000		207,413
Imagi International Holdings, Ltd. (b)		90,112		19,408
International Housewares Retail Co., Ltd.		57,000		13,759
IPE Group, Ltd.		285,000		40,775
IRC, Ltd. (b)		760,000		9,543
IT, Ltd.		220,000		117,187
ITC Properties Group, Ltd.		172,615		51,813
Jacobson Pharma Corp., Ltd.		44,000		10,340
Johnson Electric Holdings, Ltd.		106,875		301,573
Kader Holdings Co., Ltd.		224,000		29,223
Kam Hing International Holdings, Ltd.		196,000		18,018
Karrie International Holdings, Ltd.		140,000		18,060

Security Description	Shares		Value
Hong Kong—(Continued)
Keck Seng Investments		72,000	$	59,063
Kerry Logistics Network, Ltd.		107,000		178,242
Kin Yat Holdings, Ltd.		46,000		9,336
Kingmaker Footwear Holdings, Ltd.		102,000		24,500
Kingston Financial Group, Ltd.		162,000		43,136
Kowloon Development Co., Ltd.		159,000		170,918
Kwan On Holdings, Ltd. (b)		50,000		4,243
Lai Sun Development Co., Ltd.		109,413		156,469
Lai Sun Garment International, Ltd.		99,760		127,283
Lam Soon Hong Kong, Ltd.		15,000		24,479
Landing International Development, Ltd. (b)		200,400		64,508
Landsea Green Group Co., Ltd. (b)		268,000		32,412
Lifestyle International Holdings, Ltd.		181,500		356,210
Lippo China Resources, Ltd.		2,106,000		57,831
Lippo, Ltd.		122,000		43,032
Liu Chong Hing Investment, Ltd.		86,000		129,605
Luk Fook Holdings International, Ltd.		135,000		466,648
Luks Group Vietnam Holdings Co., Ltd.		68,000		19,942
Lung Kee Bermuda Holdings		90,000		41,303
Magnificent Hotel Investment, Ltd.		1,310,000		34,070
Man Sang International, Ltd. (b)		150,000		9,196
Man Wah Holdings, Ltd.		382,400		229,254
Mandarin Oriental International, Ltd.		21,200		43,461
Mason Group Holdings, Ltd. (b)		5,445,000		99,397
Matrix Holdings, Ltd. (c)		36,000		9,105
Midland Holdings, Ltd.		246,000		65,495
Midland IC&I, Ltd. (b)		151,000		5,557
Ming Fai International Holdings, Ltd.		145,000		18,492
Miramar Hotel & Investment		19,000		35,606
Mongolian Mining Corp. (b)		661,000		13,624
Nameson Holdings, Ltd.		130,000		17,397
National Electronic Holdings, Ltd.		182,600		26,088
New Century Group Hong Kong, Ltd. (b)		912,000		14,906
New Times Energy Corp., Ltd. (b)		459,450		7,714
Newocean Energy Holdings, Ltd. (b)		398,000		122,952
Noble Century Investment Holdings, Ltd. (b)		240,000		18,406
OP Financial, Ltd.		240,000		84,082
Orange Sky Golden Harvest Entertainment Holdings, Ltd.		375,882		14,792
Oriental Watch Holdings		215,600		49,906
Pacific Andes International Holdings, Ltd. (a) (b) (c) (d)		1,819,984		6,370
Pacific Basin Shipping, Ltd.		1,138,000		270,413
Pacific Textiles Holdings, Ltd.		240,000		204,324
Paliburg Holdings, Ltd.		208,000		81,728
Paradise Entertainment, Ltd. (b)		168,000		18,244
PC Partner Group, Ltd.		54,000		26,521
Perfect Shape Beauty Technology, Ltd.		108,000		26,760
Pico Far East Holdings, Ltd.		318,000		124,779
Playmates Holdings, Ltd.		460,000		59,983
Playmates Toys, Ltd.		236,000		20,802
Polytec Asset Holdings, Ltd.		565,000		54,127
Public Financial Holdings, Ltd.		166,000		69,257
PYI Corp., Ltd. (b)		2,140,366		36,078
Rare Earth Magnesium Technology Group Holdings, Ltd. (b)		500,000		28,104
Realord Group Holdings, Ltd. (b)		116,000		64,313
Regal Hotels International Holdings, Ltd.		126,000		69,047
Regina Miracle International Holdings, Ltd. (144A)		22,000		14,671
Sa Sa International Holdings, Ltd.		261,776		145,020

BHFTII-72

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hong Kong—(Continued)
Samson Holding, Ltd.		146,000	$	11,551
SAS Dragon Holdings, Ltd.		140,000		43,708
SEA Holdings, Ltd.		103,896		142,087
Shun Ho Property Investments, Ltd.		21,615		7,427
Shun Tak Holdings, Ltd.		659,500		229,893
Silver Base Group Holdings, Ltd. (b)		474,000		32,703
Sincere Watch Hong Kong, Ltd. (b)		250,000		3,059
Sing Tao News Corp., Ltd.		276,000		32,061
Singamas Container Holdings, Ltd.		724,000		108,219
SIS International Holdings		16,000		8,175
Sitoy Group Holdings, Ltd.		111,000		33,315
SmarTone Telecommunications Holdings, Ltd.		142,388		189,513
SOCAM Development, Ltd. (b)		41,987		11,420
Solartech International Holdings, Ltd. (b)		660,000		79,961
Solomon Systech International, Ltd. (b)		920,000		29,317
Soundwill Holdings, Ltd.		41,500		59,858
South China Holdings Co., Ltd. (b)		1,240,000		32,472
Stella International Holdings, Ltd.		161,500		144,136
Success Universe Group, Ltd. (b)		240,000		8,396
Summit Ascent Holdings, Ltd. (b)		126,000		12,698
Sun Hing Vision Group Holdings, Ltd.		42,000		13,696
Sun Hung Kai & Co., Ltd.		270,440		138,171
SUNeVision Holdings, Ltd.		24,000		16,162
Sunwah Kingsway Capital Holdings, Ltd.		387,500		3,596
Synergy Group Holdings International, Ltd. (b)		112,000		17,876
TAI Cheung Holdings, Ltd.		206,000		210,035
Tai United Holdings, Ltd. (e)		200,000		10,403
Talent Property Group, Ltd. (b)		420,000		3,729
Tan Chong International, Ltd.		63,000		21,004
Tao Heung Holdings, Ltd.		204,000		36,006
Television Broadcasts, Ltd.		123,500		351,043
Texwinca Holdings, Ltd.		300,000		117,711
TK Group Holdings, Ltd.		62,000		37,911
Tom Group, Ltd. (b)		118,000		29,443
Town Health International Medical Group, Ltd. (a) (b) (c) (d)		230,000		3,802
Tradelink Electronic Commerce, Ltd.		256,000		39,243
Transport International Holdings, Ltd.		99,764		261,248
Trinity, Ltd. (b)		466,000		26,175
TSC Group Holdings, Ltd. (b)		216,000		17,249
Tsui Wah Holdings, Ltd.		136,000		14,420
Union Medical Healthcare, Ltd.		32,000		19,630
United Laboratories International Holdings, Ltd. (The)		241,000		211,602
Universal Technologies Holdings, Ltd. (b)		120,000		3,526
Up Energy Development Group, Ltd. (a) (b) (c) (d)		92,000		284
Upbest Group, Ltd.		16,000		2,167
Value Convergence Holdings, Ltd. (b)		204,000		19,216
Value Partners Group, Ltd.		206,000		164,027
Valuetronics Holdings, Ltd.		89,790		46,603
Vedan International Holdings, Ltd.		296,000		29,113
Victory City International Holdings, Ltd.		839,449		12,694
Vitasoy International Holdings, Ltd.		202,000		688,846
VPower Group International Holdings, Ltd. (144A)		78,000		30,778
VSTECS Holdings, Ltd.		307,200		158,231
VTech Holdings, Ltd.		30,800		355,742
Wai Kee Holdings, Ltd.		54,000		26,722
Wan Kei Group Holdings, Ltd. (b)		75,000		7,644
Wang On Group, Ltd.		1,200,000		14,166

Security Description	Shares		Value
Hong Kong—(Continued)
We Solutions, Ltd. (b)		348,000	$	44,445
Win Hanverky Holdings, Ltd.		332,000		27,151
Winfull Group Holdings, Ltd. (b)		528,000		9,066
Wing On Co. International, Ltd.		46,000		162,180
Wing Tai Properties, Ltd.		232,000		171,896
Wonderful Sky Financial Group Holdings, Ltd. (b)		44,000		7,830
Yat Sing Holdings, Ltd. (b)		410,000		9,108
Yeebo International Holdings, Ltd.		158,000		28,057
YGM Trading, Ltd.		46,000		40,540
Yugang International, Ltd.		1,466,000		37,700
Yunfeng Financial Group, Ltd. (b)		82,000		41,793
				17,921,611
Ireland—0.5%
C&C Group plc		95,793		368,125
FBD Holdings plc		10,350		121,941
Glanbia plc		33,226		572,003
Greencore Group plc		314,156		757,659
Hostelworld Group plc (144A)		2,650		7,667
IFG Group plc		44,002		79,649
Independent News & Media plc (b)		35,056		3,056
Irish Continental Group plc		22,664		136,837
Kingspan Group plc		4,714		219,576
Smurfit Kappa Group plc		13,745		543,464
Tarsus Group plc		6,119		22,653
UDG Healthcare plc		22,358		198,247
				3,030,877
Isle of Man—0.0%
Hansard Global plc		2,566		1,921
Israel—1.0%
Adgar Investment and Development, Ltd.		7,358		12,447
ADO Group, Ltd. (b)		3,904		84,854
Afcon Holdings, Ltd.		240		10,082
Africa Israel Properties, Ltd. (b)		4,653		115,136
Africa Israel Residences, Ltd.		880		15,274
Airport City, Ltd. (b)		30,492		373,005
Allot Communications, Ltd. (b)		10,216		64,021
Alony Hetz Properties & Investments, Ltd.		8,335		87,582
Alrov Properties and Lodgings, Ltd.		3,141		99,183
Amot Investments, Ltd.		25,066		132,655
Arad, Ltd.		1,152		13,329
Arko Holdings, Ltd. (b)		99,131		57,209
Ashtrom Group, Ltd.		3,487		16,052
Ashtrom Properties, Ltd.		8,909		40,344
AudioCodes, Ltd.		6,872		69,087
Avgol Industries 1953, Ltd.		9,099		10,010
Azorim-Investment Development & Construction Co., Ltd. (b)		23,712		23,528
Bayside Land Corp.		205		95,461
Big Shopping Centers, Ltd.		1,031		72,289
BioLine RX, Ltd. (b)		2,565		2,643
Blue Square Real Estate, Ltd.		867		32,523
Brainsway, Ltd. (b)		2,193		16,274
Camtek, Ltd.		3,606		31,937
Cellcom Israel, Ltd. (b)		13,058		89,242

BHFTII-73

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Israel—(Continued)
Ceragon Networks, Ltd. (b)		14,799	$	49,873
Clal Biotechnology Industries, Ltd. (b)		17,579		16,507
Clal Insurance Enterprises Holdings, Ltd. (b)		7,114		134,254
Cohen Development & Industrial Buildings, Ltd.		305		6,797
Compugen, Ltd. (b)		14,846		54,445
Danel Adir Yeoshua, Ltd.		721		38,473
Delek Automotive Systems, Ltd.		10,535		57,053
Delta-Galil Industries, Ltd.		4,030		118,740
Dexia Israel Bank, Ltd.		150		29,362
Direct Insurance Financial Investments, Ltd.		4,805		55,982
El Al Israel Airlines (b)		77,291		20,984
Electra Consumer Products 1970, Ltd.		1,236		13,593
Electra, Ltd.		652		160,817
Elron Electronic Industries, Ltd. (b)		7,585		26,822
Energix-Renewable Energies, Ltd. (b)		36,656		42,301
Enlight Renewable Energy, Ltd. (b)		95,911		50,091
Evogene, Ltd. (b)		5,090		14,798
First International Bank of Israel, Ltd.		8,900		201,210
FMS Enterprises Migun, Ltd.		910		22,772
Formula Systems 1985, Ltd.		2,591		108,856
Fox Wizel, Ltd.		2,272		46,692
Gilat Satellite Networks, Ltd. (b)		7,707		67,155
Hadera Paper, Ltd.		1,104		88,014
Hamlet Israel-Canada, Ltd.		1,610		45,411
Harel Insurance Investments & Financial Services, Ltd.		43,597		335,962
Hilan, Ltd.		3,869		96,247
IDI Insurance Co., Ltd.		1,637		100,820
Industrial Buildings Corp., Ltd. (b)		39,465		54,977
Inrom Construction Industries, Ltd.		12,422		46,859
Israel Canada T.R., Ltd.		12,271		10,790
Israel Land Development Co., Ltd. (The) (b)		3,950		36,960
Issta Lines, Ltd.		550		9,641
Jerusalem Oil Exploration (b)		4,199		258,340
Kamada, Ltd. (b)		11,729		72,584
Kerur Holdings, Ltd.		931		25,042
Klil Industries, Ltd.		175		16,162
Maabarot Products, Ltd.		3,435		38,069
Magic Software Enterprises, Ltd.		9,462		83,298
Matrix IT, Ltd.		10,787		129,031
Maytronics, Ltd.		10,248		66,559
Mazor Robotics, Ltd. (b)		11,491		333,787
Mega Or Holdings, Ltd.		3,085		34,133
Meitav Dash Investments, Ltd.		5,193		15,538
Melisron, Ltd.		4,351		189,439
Menora Mivtachim Holdings, Ltd.		11,310		128,399
Migdal Insurance & Financial Holding, Ltd.		55,471		61,447
Mivtach Shamir Holdings, Ltd.		1,401		27,560
Naphtha Israel Petroleum Corp., Ltd.		14,775		100,930
Nawi Brothers, Ltd.		4,888		28,689
Neto ME Holdings, Ltd.		788		66,408
Nova Measuring Instruments, Ltd. (b)		8,789		227,043
NR Spuntech Industries, Ltd. (b)		3,848		11,568
Oil Refineries, Ltd.		418,554		208,308
One Software Technologies, Ltd.		555		22,353
Partner Communications Co., Ltd. (b)		24,190		126,949
Paz Oil Co., Ltd.		1,481		232,718
Perion Network, Ltd. (b)		1,082		3,286

Security Description	Shares		Value
Israel—(Continued)
Phoenix Holdings, Ltd. (The)		20,176	$	122,261
Plasson Industries, Ltd.		1,729		85,550
Rami Levi Chain Stores Hashikma Marketing, Ltd.		1,803		85,088
Redhill Biopharma, Ltd. (b)		35,031		30,015
Scope Metals Group, Ltd.		1,419		41,671
Shapir Engineering & Industry, Ltd.		13,184		46,413
Shikun & Binui, Ltd. (b)		73,332		150,353
Shufersal, Ltd.		25,580		164,291
SodaStream International, Ltd. (b)		100		14,146
Summit Real Estate Holdings, Ltd.		4,127		38,978
Suny Cellular Communication, Ltd. (b)		16,495		7,913
Tadiran Holdings, Ltd.		568		15,632
Union Bank of Israel (b)		7,545		34,646
YH Dimri Construction & Development, Ltd.		663		10,643
				7,082,665
Italy—4.4%
A/S Roma S.p.A. (b)		31,585		18,838
A2A S.p.A.		481,411		835,052
ACEA S.p.A.		23,394		350,656
Aeffe S.p.A. (b)		11,359		38,596
Amplifon S.p.A.		30,504		677,140
Anima Holding S.p.A. (144A)		58,335		286,768
Ansaldo STS S.p.A. (b)		19,481		276,785
Aquafil S.p.A.		737		10,439
Arnoldo Mondadori Editore S.p.A. (b)		63,913		110,716
Ascopiave S.p.A.		28,294		99,472
Astaldi S.p.A. (b)		20,559		19,096
Autogrill S.p.A.		41,121		420,011
Avio S.p.A.		2,974		44,149
Azimut Holding S.p.A.		39,680		597,221
B&C Speakers S.p.A.		1,431		21,499
Banca Carige S.p.A. (b)		156,432		1,162
Banca Farmafactoring S.p.A. (144A)		7,088		42,402
Banca Finnat Euramerica S.p.A.		50,851		19,242
Banca Generali S.p.A.		18,858		487,183
Banca IFIS S.p.A.		7,714		173,566
Banca Mediolanum S.p.A.		51,915		352,815
Banca Popolare dell’Emilia Romagna SC		202,667		936,922
Banca Popolare di Sondrio Scarl		173,614		661,225
Banca Profilo S.p.A.		117,883		25,596
Banca Sistema S.p.A. (144A)		9,271		22,487
Banco BPM S.p.A. (b)		390,373		958,032
Banco di Desio e della Brianza S.p.A.		20,306		48,567
BasicNet S.p.A.		7,658		40,678
BE		29,207		29,890
Biesse S.p.A.		6,021		213,695
Brembo S.p.A.		45,165		590,910
Brunello Cucinelli S.p.A.		8,151		317,390
Buzzi Unicem S.p.A.		27,815		576,707
Cairo Communication S.p.A.		24,474		88,372
Caltagirone Editore S.p.A. (b)		6,273		9,379
Cembre S.p.A.		875		24,530
Cementir Holding S.p.A.		21,979		153,623
Cerved Information Solutions S.p.A.		44,102		474,861
CIR-Compagnie Industriali Riunite S.p.A.		157,057		179,147

BHFTII-74

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Italy—(Continued)
Credito Emiliano S.p.A.		35,381	$	232,408
Credito Valtellinese S.p.A. (b)		2,927,424		366,787
d’Amico International Shipping S.A. (b)		60,320		12,578
Danieli & C Officine Meccaniche S.p.A.		4,846		129,127
Datalogic S.p.A.		8,028		290,346
De’Longhi S.p.A.		16,896		530,003
DeA Capital S.p.A.		18,071		26,648
DiaSorin S.p.A.		6,863		721,862
Digital Bros S.p.A.		1,166		12,847
Ei Towers S.p.A.		7,035		463,891
El.En. S.p.A.		507		12,468
Emak S.p.A.		8,807		13,661
Enav S.p.A. (144A)		45,852		223,299
ERG S.p.A.		21,603		439,941
Esprinet S.p.A.		14,507		64,186
Eurotech S.p.A. (b)		13,076		57,691
Falck Renewables S.p.A.		34,815		75,185
Fila S.p.A.		1,813		36,820
Fincantieri S.p.A. (b)		93,136		151,174
FinecoBank Banca Fineco S.p.A.		72,092		962,485
FNM S.p.A.		55,327		36,423
Geox S.p.A.		34,378		86,581
Gruppo Editoriale L’Espresso S.p.A. (b) (e)		52,528		23,633
Gruppo MutuiOnline S.p.A.		6,461		126,326
Hera S.p.A.		231,619		721,247
IMMSI S.p.A. (b)		100,436		55,235
Industria Macchine Automatiche S.p.A.		5,461		456,842
Infrastrutture Wireless Italiane S.p.A. (144A)		27,392		202,941
Intek Group S.p.A. (b)		80,757		32,815
Interpump Group S.p.A.		22,700		743,235
Iren S.p.A.		231,134		567,309
Italgas S.p.A.		95,428		517,338
Italmobiliare S.p.A.		3,185		76,732
IVS Group S.A.		1,749		24,485
Juventus Football Club S.p.A. (b)		147,435		250,890
La Doria S.p.A.		3,877		50,909
Leonardo S.p.A.		35,075		422,714
Maire Tecnimont S.p.A.		35,567		159,980
MARR S.p.A.		13,428		393,400
Massimo Zanetti Beverage Group S.p.A. (144A)		1,925		15,690
Mediaset S.p.A. (b)		192,042		599,312
Moncler S.p.A.		27,092		1,165,745
Nice S.p.A.		9,890		33,402
Openjobmetis S.p.A. agenzia per il lavoro (b)		1,209		12,167
OVS S.p.A. (144A) (b)		23,352		66,969
Parmalat S.p.A.		13,351		44,023
Piaggio & C S.p.A.		71,430		163,463
Prima Industrie S.p.A.		1,853		62,885
Prysmian S.p.A.		33,800		784,722
RAI Way S.p.A. (144A)		12,094		61,433
Reno de Medici S.p.A.		46,743		51,962
Reply S.p.A.		6,572		452,172
Retelit S.p.A.		36,769		64,207
Rizzoli Corriere Della Sera Mediagroup S.p.A. (b)		19,560		22,595
Sabaf S.p.A.		3,059		56,116
SAES Getters S.p.A.		1,416		33,894
Safilo Group S.p.A. (b)		12,212		29,888

Security Description	Shares		Value
Italy—(Continued)
Saipem S.p.A. (b)		186,651	$	1,148,510
Salini Impregilo S.p.A. (e)		70,140		172,701
Salvatore Ferragamo S.p.A.		16,352		391,671
Saras S.p.A.		134,526		288,824
Servizi Italia S.p.A.		1,701		7,978
Sesa S.p.A.		1,672		53,187
Societa Cattolica di Assicurazioni SC		61,974		532,753
Societa Iniziative Autostradali e Servizi S.p.A.		25,981		383,452
Sogefi S.p.A. (b)		24,822		56,108
SOL S.p.A.		11,001		131,794
Tamburi Investment Partners S.p.A.		25,760		194,107
Technogym S.p.A. (144A)		13,407		164,184
Tecnoinvestimenti S.p.A.		462		3,482
Tiscali S.p.A. (b) (e)		802,477		15,094
Tod’s S.p.A.		3,954		269,524
Trevi Finanziaria Industriale S.p.A. (b)		31,414		11,015
TXT e-solutions S.p.A.		980		10,821
Uni Land S.p.A. (a) (b) (c) (d)		4,937		0
Unieuro S.p.A. (144A) (b)		902		11,991
Unione di Banche Italiane S.p.A.		325,151		1,303,638
Unipol Gruppo Finanziario S.p.A.		126,457		563,213
UnipolSai Assicurazioni S.p.A. (e)		127,672		300,319
Zignago Vetro S.p.A.		11,476		113,922
				29,856,194
Japan—25.1%
77 Bank, Ltd. (The)		12,800		304,379
A&A Material Corp.		1,200		12,802
A&D Co., Ltd.		3,000		27,776
A/S One Corp.		3,500		261,546
Abist Co., Ltd.		600		22,170
Achilles Corp.		6,500		135,866
Adastria Co., Ltd.		9,240		123,465
ADEKA Corp.		34,600		593,789
Adtec Plasma Technology Co., Ltd.		600		6,720
Advan Co., Ltd.		6,700		58,082
Advanex, Inc.		900		16,787
Advantage Risk Management Co., Ltd.		1,300		13,787
Adventure, Inc.		600		51,411
Aeon Delight Co., Ltd.		3,900		142,273
Aeon Fantasy Co., Ltd.		2,400		89,454
Aeon Hokkaido Corp.		2,600		19,383
Aeria, Inc.		2,200		15,869
AGORA Hospitality Group Co., Ltd. (b)		27,000		8,089
Agro-Kanesho Co., Ltd.		2,900		65,094
Ahresty Corp.		9,200		68,759
Ai Holdings Corp.		12,200		282,603
Aichi Bank, Ltd. (The)		2,600		116,260
Aichi Corp.		10,800		58,836
Aichi Steel Corp.		4,300		164,087
Aichi Tokei Denki Co., Ltd.		1,900		79,105
Aida Engineering, Ltd.		20,700		185,090
Aiphone Co., Ltd.		4,600		69,027
Airport Facilities Co., Ltd.		7,500		43,097
Aisan Industry Co., Ltd.		10,400		90,429
AIT Corp.		900		8,405

BHFTII-75

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Aizawa Securities Co., Ltd.		13,800	$	95,293
Akatsuki, Inc.		500		20,659
Akebono Brake Industry Co., Ltd. (b) (e)		32,600		73,289
Akita Bank, Ltd. (The)		6,200		163,397
Albis Co., Ltd.		800		21,407
Alconix Corp.		6,400		91,245
Alinco, Inc.		5,800		55,802
Allied Telesis Holdings KK (b)		13,900		14,313
Alpen Co., Ltd.		7,000		124,158
Alpha Corp.		2,200		28,804
Alpha Systems, Inc.		3,140		80,610
Alpine Electronics, Inc.		16,600		311,916
Alps Logistics Co., Ltd.		6,000		45,417
Altech Corp.		5,200		117,015
Amano Corp.		19,600		409,250
Amiyaki Tei Co., Ltd.		1,100		44,001
Amuse, Inc.		3,600		102,363
Anabuki Kosan, Inc.		400		11,457
Anest Iwata Corp.		10,400		103,815
Anicom Holdings, Inc.		3,400		112,538
AOI Electronics Co., Ltd.		1,100		37,612
AOI TYO Holdings, Inc.		6,428		81,237
AOKI Holdings, Inc.		15,900		217,321
Aomori Bank, Ltd. (The)		6,900		208,939
Aoyama Trading Co., Ltd.		17,900		549,906
Aoyama Zaisan Networks Co., Ltd.		1,400		22,027
Apaman Co., Ltd.		2,100		18,431
Arakawa Chemical Industries, Ltd.		6,600		112,010
Arata Corp. (e)		4,200		210,252
Araya Industrial Co., Ltd.		2,600		46,050
Arcland Sakamoto Co., Ltd.		10,600		144,253
Arcland Service Holdings Co., Ltd.		2,800		52,941
Arcs Co., Ltd.		13,364		362,252
Ardepro Co., Ltd. (b)		18,900		8,982
Arealink Co., Ltd.		1,400		30,747
Argo Graphics, Inc.		2,800		121,876
Arisawa Manufacturing Co., Ltd.		14,300		122,621
Arrk Corp. (b)		22,600		22,678
Artnature, Inc.		5,000		31,071
Asahi Broadcasting Corp.		2,400		17,005
Asahi Co., Ltd.		4,500		59,444
Asahi Diamond Industrial Co., Ltd. (e)		21,200		149,489
Asahi Holdings, Inc.		9,000		164,636
Asahi Kogyosha Co., Ltd.		1,700		50,858
Asahi Net, Inc.		5,000		23,282
Asahi Printing Co., Ltd.		400		4,225
ASAHI YUKIZAI Corp.		5,000		118,898
Asahipen Corp.		400		6,402
Asanuma Corp.		2,400		77,848
Asax Co., Ltd.		5,400		30,362
Ashimori Industry Co., Ltd.		1,600		32,496
ASKA Pharmaceutical Co., Ltd.		7,500		103,444
Asukanet Co., Ltd.		1,300		16,663
Asunaro Aoki Construction Co., Ltd.		5,800		49,399
Ateam, Inc.		1,300		22,175
Atom Corp.		11,100		99,948
Atrae, Inc. (b)		700		15,410

Security Description	Shares		Value
Japan—(Continued)
Atsugi Co., Ltd.		6,100	$	63,028
Aucnet, Inc.		700		7,792
Autobacs Seven Co., Ltd.		22,700		389,632
Avex, Inc.		12,000		171,226
Awa Bank, Ltd. (The)		14,600		452,937
Axell Corp.		3,800		22,942
Axial Retailing, Inc.		5,100		182,231
Azia Co., Ltd.		1,500		19,700
Bando Chemical Industries, Ltd.		15,400		183,240
Bank of Iwate, Ltd. (The)		6,000		261,530
Bank of Kochi, Ltd. (The)		1,600		16,336
Bank of Nagoya, Ltd. (The)		5,400		181,547
Bank of Okinawa, Ltd. (The)		9,160		324,078
Bank of Saga, Ltd. (The)		6,100		125,590
Bank of the Ryukyus, Ltd.		15,800		192,905
Baroque Japan, Ltd.		1,100		10,434
BayCurrent Consulting, Inc.		1,800		50,090
Beenos, Inc. (b)		1,400		23,564
Belc Co., Ltd.		2,800		151,579
Bell System24 Holdings, Inc.		4,300		67,817
Belluna Co., Ltd.		13,800		162,440
Benefit One, Inc.		4,300		140,424
Bengo4.com, Inc. (b)		1,200		50,378
Billing System Corp.		500		30,420
Biofermin Pharmaceutical Co., Ltd.		500		12,842
BML, Inc.		7,600		231,330
Bookoff Corp. (a) (b) (d)		4,700		32,514
Bourbon Corp.		600		12,695
BP Castrol KK		2,600		37,484
Br Holdings Corp.		4,000		16,506
BrainPad, Inc. (b)		600		30,530
Broadleaf Co., Ltd.		20,400		147,264
BRONCO BILLY Co., Ltd.		2,400		78,021
Bull-Dog Sauce Co., Ltd.		600		11,565
Bunka Shutter Co., Ltd.		19,000		143,002
C Uyemura & Co., Ltd.		2,800		179,660
C.I. Takiron Corp.		18,000		98,319
CAC Holdings Corp.		6,200		62,705
Can Do Co., Ltd.		3,500		53,930
Canare Electric Co., Ltd.		800		14,893
Canon Electronics, Inc.		7,400		155,391
Capital Asset Planning, Inc.		400		17,496
Career Design Center Co., Ltd.		600		8,588
CareerIndex, Inc.		1,600		21,122
Carlit Holdings Co., Ltd.		7,300		64,501
Cawachi, Ltd.		5,700		115,881
Central Glass Co., Ltd.		15,000		389,567
Central Security Patrols Co., Ltd.		1,100		48,901
Central Sports Co., Ltd.		1,600		59,781
Ceres, Inc.		1,100		19,265
Chiba Kogyo Bank, Ltd. (The)		16,000		71,533
Chikaranomoto Holdings Co., Ltd.		1,000		9,832
Chilled & Frozen Logistics Holdings Co., Ltd.		2,800		35,246
CHIMNEY Co., Ltd.		1,400		35,734
Chino Corp.		2,700		37,796
Chiyoda Co., Ltd.		5,800		114,250
Chiyoda Corp.		6,000		48,863

BHFTII-76

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Chiyoda Integre Co., Ltd.		4,600	$	95,357
Chofu Seisakusho Co., Ltd.		5,700		131,135
Chori Co., Ltd.		5,000		92,115
Chubu Shiryo Co., Ltd.		7,900		108,546
Chudenko Corp.		8,600		196,033
Chuetsu Pulp & Paper Co., Ltd.		3,500		50,582
Chugai Mining Co., Ltd. (b)		68,200		12,005
Chugai Ro Co., Ltd.		2,900		77,335
Chugoku Marine Paints, Ltd. (e)		22,000		220,958
Chukyo Bank, Ltd. (The)		3,900		79,118
Chuo Gyorui Co., Ltd.		200		4,952
Chuo Spring Co., Ltd.		1,400		47,323
Citizen Watch Co., Ltd.		37,300		245,875
CKD Corp.		17,300		221,981
Clarion Co., Ltd.		6,800		104,852
Cleanup Corp.		7,300		53,104
CMIC Holdings Co., Ltd.		3,900		78,636
CMK Corp.		18,200		139,246
Cocokara fine, Inc.		5,700		365,696
COLOPL, Inc.		11,000		71,350
Colowide Co., Ltd.		12,300		314,736
Computer Engineering & Consulting, Ltd.		9,600		234,310
Computer Institute of Japan, Ltd.		2,000		13,637
Comture Corp.		1,900		72,859
CONEXIO Corp.		4,600		84,776
COOKPAD, Inc.		6,300		25,283
Corona Corp.		5,600		62,799
Cosel Co., Ltd.		9,900		112,932
Cosmos Initia Co., Ltd.		3,500		21,782
Cota Co., Ltd.		1,600		23,166
Create Medic Co., Ltd.		1,800		20,391
Create Restaurants Holdings, Inc.		4,700		54,884
Create SD Holdings Co., Ltd.		8,300		216,073
Creek & River Co., Ltd.		1,300		14,239
Cresco, Ltd.		2,000		59,950
CTI Engineering Co., Ltd.		4,800		71,755
CTS Co., Ltd.		2,800		18,849
Cube System, Inc.		1,700		14,171
Cyberstep, Inc. (b)		1,200		22,645
Cybozu, Inc.		6,400		38,358
Dai Nippon Toryo Co., Ltd.		9,400		108,870
Dai-Dan Co., Ltd.		6,000		151,035
Dai-ichi Seiko Co., Ltd.		3,100		44,933
Daibiru Corp.		19,800		208,761
Daido Kogyo Co., Ltd.		2,000		20,541
Daido Metal Co., Ltd.		11,200		92,220
Daido Steel Co., Ltd.		2,100		101,748
Daidoh, Ltd.		10,800		37,739
Daihatsu Diesel Manufacturing Co., Ltd.		9,000		53,788
Daihen Corp.		7,200		184,268
Daiho Corp.		5,000		141,730
Daiichi Jitsugyo Co., Ltd.		2,800		96,371
Daiichi Kigenso Kagaku-Kogyo Co., Ltd.		5,000		60,831
Daiken Corp.		4,800		95,640
Daiken Medical Co., Ltd.		4,400		32,728
Daiki Aluminium Industry Co., Ltd.		9,000		61,562
Daiko Denshi Tsushin, Ltd.		1,300		9,316

Security Description	Shares		Value
Japan—(Continued)
Daikoku Denki Co., Ltd.		2,700	$	42,206
Daikokutenbussan Co., Ltd.		1,900		74,558
Daikyo, Inc.		11,500		233,999
Daikyonishikawa Corp.		5,200		60,088
Dainichi Co., Ltd.		4,100		28,832
Dainichiseika Color & Chemicals Manufacturing Co., Ltd.		5,000		162,864
Daio Paper Corp.		25,300		361,610
Daiseki Co., Ltd.		10,700		295,771
Daiseki Eco. Solution Co., Ltd.		2,400		18,679
Daishi Bank, Ltd. (The) (a) (b) (d)		11,100		481,632
Daishinku Corp.		2,600		30,513
Daisue Construction Co., Ltd.		2,300		25,458
Daisyo Corp.		3,100		46,630
Daito Bank, Ltd. (The)		5,200		56,392
Daito Pharmaceutical Co., Ltd.		3,960		122,675
Daitron Co., Ltd.		800		16,037
Daiwa Industries, Ltd.		11,000		120,265
Daiwabo Holdings Co., Ltd.		6,100		393,503
Daiyu Lic Holdings Co., Ltd.		1,300		13,260
DCM Holdings Co., Ltd. (e)		37,900		344,432
DD Holdings Co., Ltd.		600		14,461
Dear Life Co., Ltd.		4,700		22,369
Denki Kogyo Co., Ltd.		4,200		123,426
Densan System Co., Ltd.		1,000		20,091
Denyo Co., Ltd.		4,800		78,882
Descente, Ltd.		13,700		287,318
Dexerials Corp.		7,800		79,311
Digital Arts, Inc.		2,600		122,191
Digital Information Technologies Corp.		1,300		17,599
Dip Corp.		4,800		116,213
DKS Co., Ltd.		3,600		114,566
DMG Mori Co., Ltd. (e)		17,000		284,105
DMW Corp.		700		14,379
Doshisha Co., Ltd.		8,200		170,171
Doutor Nichires Holdings Co., Ltd.		11,500		213,592
Dowa Holdings Co., Ltd.		5,900		186,895
Dream Incubator, Inc.		600		11,662
DSB Co., Ltd.		5,300		27,150
DTS Corp.		6,600		262,900
Duskin Co., Ltd.		13,700		334,287
DyDo Group Holdings, Inc.		2,700		135,210
Dynic Corp.		3,200		27,487
E-Guardian, Inc. (b)		1,400		34,904
Eagle Industry Co., Ltd.		7,800		101,624
Earth Corp.		2,700		129,759
EAT&Co, Ltd.		1,400		20,985
Ebara Jitsugyo Co., Ltd.		2,500		50,301
Eco’s Co., Ltd.		800		12,004
EDION Corp.		28,900		323,124
EF-ON, Inc.		1,200		13,919
eGuarantee, Inc.		4,800		52,325
Ehime Bank, Ltd. (The)		11,400		125,239
Eidai Co., Ltd.		10,000		45,589
Eighteenth Bank, Ltd. (The)		7,000		238,154
Eiken Chemical Co., Ltd.		9,200		213,892
Eizo Corp.		6,300		284,990
Elan Corp.		600		16,279

BHFTII-77

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Elecom Co., Ltd.		5,100	$	129,359
Elematec Corp.		4,000		94,492
EM Systems Co., Ltd.		3,600		39,578
en-japan, Inc.		2,200		110,361
Endo Lighting Corp.		2,600		19,796
Eneres Co., Ltd. (b)		3,400		20,826
Enigmo, Inc. (b)		1,300		21,395
Enplas Corp.		3,400		97,548
Enshu, Ltd. (b)		2,300		32,857
EPS Holdings, Inc.		7,900		168,435
eRex Co., Ltd.		6,100		56,177
ES-Con Japan, Ltd.		4,900		34,441
Escrow Agent Japan, Inc.		5,100		21,311
ESPEC Corp.		7,100		135,950
Excel Co., Ltd.		2,500		39,209
Exedy Corp.		11,600		384,501
F-Tech, Inc.		3,600		42,435
F@N Communications, Inc.		9,600		58,804
Faith, Inc.		2,680		31,156
FALCO HOLDINGS Co., Ltd.		3,100		51,434
FCC Co., Ltd.		12,600		378,791
FDK Corp. (b) (e)		2,500		33,113
Feed One Co., Ltd.		41,380		77,225
Ferrotec Holdings Corp.		10,400		100,661
FFRI, Inc. (b)		1,000		28,163
FIDEA Holdings Co., Ltd.		62,510		94,075
Fields Corp.		6,000		49,998
Financial Products Group Co., Ltd.		20,000		191,104
FINDEX, Inc.		3,900		27,013
First Brothers Co., Ltd.		900		11,697
First Juken Co., Ltd.		3,400		44,082
First-corp, Inc.		1,600		16,540
Fixstars Corp. (e)		2,700		37,887
Foster Electric Co., Ltd. (e)		8,800		110,727
France Bed Holdings Co., Ltd.		9,300		80,131
Freebit Co., Ltd.		2,100		20,237
Freund Corp.		2,400		19,795
Fronteo, Inc. (b)		3,100		28,980
FTGroup Co., Ltd.		1,500		23,044
Fudo Tetra Corp.		6,030		111,884
Fuji Co., Ltd.		6,700		131,842
Fuji Corp., Ltd.		8,600		67,711
Fuji Kyuko Co., Ltd.		6,500		212,519
Fuji Machine Manufacturing Co., Ltd.		12,100		193,983
Fuji Oil Co., Ltd.		21,100		89,343
Fuji Pharma Co., Ltd.		4,600		72,473
Fuji Seal International, Inc.		7,400		262,135
Fuji Soft, Inc.		7,300		369,202
Fujibo Holdings, Inc.		3,700		113,830
Fujicco Co., Ltd.		7,100		146,728
Fujikura Kasei Co., Ltd.		9,500		56,353
Fujikura Rubber, Ltd.		5,800		30,123
Fujikura, Ltd.		69,700		329,522
Fujimi, Inc.		7,000		181,862
Fujimori Kogyo Co., Ltd.		4,800		163,694
Fujio Food System Co., Ltd.		600		10,989
Fujisash Co., Ltd.		24,500		22,199

Security Description	Shares		Value
Japan—(Continued)
Fujishoji Co., Ltd.		1,300	$	12,751
Fujita Kanko, Inc.		800		24,115
Fujitec Co., Ltd.		19,500		261,374
Fujitsu Frontech, Ltd.		4,500		48,753
Fujitsu General, Ltd.		9,700		162,826
Fujiya Co., Ltd.		1,200		27,008
FuKoKu Co., Ltd.		5,100		44,877
Fukuda Corp.		1,600		79,996
Fukui Bank, Ltd. (The)		9,200		192,297
Fukui Computer Holdings, Inc.		1,300		25,150
Fukushima Bank, Ltd. (The) (b)		11,200		71,864
Fukushima Industries Corp.		4,200		214,419
Fukuyama Transporting Co., Ltd.		8,100		350,376
FULLCAST Holdings Co., Ltd.		4,300		99,387
Fumakilla, Ltd.		2,500		34,769
Funai Electric Co., Ltd. (b) (e)		7,900		45,749
Funai Soken Holdings, Inc.		10,770		244,408
Furukawa Battery Co., Ltd. (The)		5,000		39,258
Furukawa Co., Ltd. (e)		10,500		154,783
Furuno Electric Co., Ltd.		10,500		137,603
Furusato Industries, Ltd.		3,700		61,718
Furuya Metal Co., Ltd.		400		21,792
Fuso Chemical Co., Ltd.		4,000		95,120
Fuso Pharmaceutical Industries, Ltd.		2,600		67,568
Futaba Corp.		10,200		183,606
Futaba Industrial Co., Ltd.		19,600		143,686
Future Corp.		8,400		136,519
Fuyo General Lease Co., Ltd.		5,600		340,561
G-7 Holdings, Inc.		500		12,142
G-Tekt Corp.		7,700		127,423
Gakken Holdings Co., Ltd.		1,600		79,848
Gakkyusha Co., Ltd.		700		11,207
Gakujo Co., Ltd.		1,700		25,217
Gecoss Corp.		4,600		49,416
Genki Sushi Co., Ltd. (e)		1,600		91,116
Genky DrugStores Co., Ltd.		2,400		92,489
Geo Holdings Corp.		12,300		186,084
Giken, Ltd.		2,800		74,308
GLOBERIDE, Inc.		3,500		96,589
Glory, Ltd.		7,900		193,077
GMO Click Holdings, Inc.		1,800		13,592
GMO Cloud K.K.		700		26,356
Godo Steel, Ltd.		4,100		84,436
Goldcrest Co., Ltd.		7,230		118,254
Golf Digest Online, Inc.		900		7,406
Grace Technology, Inc.		900		26,755
Grandy House Corp.		3,600		15,496
Gree, Inc.		26,400		124,146
GS Yuasa Corp. (e)		14,000		344,622
GSI Creos Corp.		2,800		36,830
Gumi, Inc. (b)		2,900		16,594
Gun-Ei Chemical Industry Co., Ltd.		1,800		52,959
GungHo Online Entertainment, Inc.		12,600		25,940
Gunosy, Inc. (b)		2,000		35,221
Gunze, Ltd.		6,900		346,675
Gurunavi, Inc.		8,500		69,183
H-One Co., Ltd.		6,000		74,630

BHFTII-78

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
H2O Retailing Corp.		7,600	$	125,109
HABA Laboratories, Inc.		500		43,680
Hagihara Industries, Inc.		4,000		66,661
Hakudo Co., Ltd.		500		8,728
Hakuto Co., Ltd.		5,900		82,822
Hakuyosha Co., Ltd.		800		22,039
Hamakyorex Co., Ltd.		5,600		203,547
Hamee Corp.		1,800		24,993
Hanwa Co., Ltd.		12,800		425,811
Happinet Corp.		5,000		87,891
Hard Off Corp. Co., Ltd.		3,700		32,306
Harima Chemicals Group, Inc.		7,100		62,877
Haruyama Holdings, Inc.		5,400		45,770
Hazama Ando Corp.		54,490		415,879
Hearts United Group Co., Ltd.		2,600		38,899
Heiwa Corp.		12,200		272,087
Heiwa Real Estate Co., Ltd.		14,400		254,732
Heiwado Co., Ltd.		11,200		300,703
Helios Techno Holding Co., Ltd.		1,900		14,918
HI-LEX Corp.		7,700		170,924
Hibiya Engineering, Ltd.		7,800		135,329
Hiday Hidaka Corp.		5,815		116,925
Himaraya Co., Ltd.		2,600		22,587
Hinokiya Group Co., Ltd.		700		18,307
Hioki EE Corp.		2,300		75,122
Hiramatsu, Inc.		8,300		33,460
Hirano Tecseed Co., Ltd.		500		9,068
Hirata Corp.		1,700		122,383
Hirose Tusyo, Inc.		300		6,962
Hiroshima Gas Co., Ltd.		3,600		12,136
HIS Co., Ltd.		6,000		200,605
Hisaka Works, Ltd.		9,600		101,013
Hitachi Maxell, Ltd.		8,200		128,432
Hitachi Zosen Corp.		61,600		257,567
Hito Communications, Inc.		1,700		26,946
Hochiki Corp.		4,600		67,446
Hodogaya Chemical Co., Ltd.		1,800		54,652
Hogy Medical Co., Ltd.		7,100		244,908
Hokkaido Electric Power Co., Inc. (e)		40,100		252,727
Hokkaido Gas Co., Ltd.		5,400		73,903
Hokkan Holdings, Ltd.		5,000		103,865
Hokko Chemical Industry Co., Ltd.		8,000		42,747
Hokkoku Bank, Ltd. (The)		10,100		390,221
Hokuetsu Bank, Ltd. (The) (a) (b) (d)		8,000		169,688
Hokuetsu Industries Co., Ltd.		7,000		83,865
Hokuetsu Kishu Paper Co., Ltd.		47,900		260,589
Hokuhoku Financial Group, Inc.		12,700		178,496
Hokuriku Electric Industry Co., Ltd.		2,800		32,310
Hokuriku Electric Power Co. (b)		30,100		308,126
Hokuriku Electrical Construction Co., Ltd.		3,000		28,307
Hokuriku Gas Co., Ltd.		1,000		26,932
Hokuto Corp.		7,100		121,298
Honda Tsushin Kogyo Co., Ltd.		1,200		8,924
Honeys Holdings Co., Ltd.		6,930		62,334
Honma Golf, Ltd. (144A)		27,000		25,173
Hoosiers Holdings Co., Ltd.		8,000		47,626
Hosiden Corp.		20,000		196,150

Security Description	Shares		Value
Japan—(Continued)
Hosokawa Micron Corp.		2,200	$	120,071
Hotland Co., Ltd.		900		10,747
House Do Co., Ltd.		600		12,916
Howa Machinery, Ltd.		5,700		48,015
Hyakugo Bank, Ltd. (The)		88,000		355,480
Hyakujushi Bank, Ltd. (The)		9,800		288,931
I’rom Group Co., Ltd.		1,100		18,147
I-Net Corp.		3,520		60,049
I.K Co., Ltd.		900		15,564
Ibiden Co., Ltd.		27,300		382,735
IBJ Leasing Co., Ltd.		7,200		192,634
IBJ, Inc.		3,500		21,509
Ichibanya Co., Ltd.		1,700		67,627
Ichigo, Inc.		42,800		160,509
Ichiken Co., Ltd.		2,400		47,956
Ichikoh Industries, Ltd.		9,000		79,048
ICHINEN HOLDINGS Co., Ltd.		7,400		97,148
Ichiyoshi Securities Co., Ltd.		12,600		130,993
Icom, Inc.		3,800		82,483
Idec Corp.		7,500		164,413
IDOM, Inc.		20,400		69,122
Ihara Science Corp.		900		18,419
Iino Kaiun Kaisha, Ltd.		32,200		164,978
IJT Technology Holdings Co., Ltd.		9,000		59,469
Ikegami Tsushinki Co., Ltd.		2,600		30,895
Imagica Robot Holdings, Inc.		4,500		26,423
Imasen Electric Industrial		7,200		75,741
Imuraya Group Co., Ltd.		1,200		35,956
Inaba Denki Sangyo Co., Ltd.		8,100		357,865
Inaba Seisakusho Co., Ltd.		2,100		26,132
Inabata & Co., Ltd.		17,700		272,139
Inageya Co., Ltd.		9,700		145,784
Ines Corp.		9,500		109,627
Infocom Corp.		4,000		132,015
Infomart Corp.		15,400		200,657
Information Development Co.		1,200		18,279
Information Services International-Dentsu, Ltd.		4,300		159,918
Innotech Corp.		8,200		98,022
Insource Co., Ltd.		500		11,089
Intage Holdings, Inc.		11,600		106,114
Intelligent Wave, Inc.		3,400		21,788
Inter Action Corp.		1,700		25,939
Internet Initiative Japan, Inc. (e)		9,800		198,663
Inui Global Logistics Co., Ltd.		5,355		43,239
IR Japan Holdings, Ltd.		1,400		22,375
Iriso Electronics Co., Ltd.		5,000		262,339
Ise Chemicals Corp.		1,000		31,159
Iseki & Co., Ltd.		7,400		136,338
Ishihara Sangyo Kaisha, Ltd. (b)		12,200		187,250
Ishii Iron Works Co., Ltd.		900		14,853
Ishizuka Glass Co., Ltd.		500		11,134
Isolite Insulating Products Co., Ltd.		2,900		15,344
Istyle, Inc.		9,800		116,003
ITbook Co., Ltd. (a) (b) (d)		3,900		17,197
Itfor, Inc.		5,200		45,135
Itochu Enex Co., Ltd.		19,400		196,177
Itochu-Shokuhin Co., Ltd.		2,400		126,102

BHFTII-79

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Itoki Corp.		15,600	$	90,535
Itokuro, Inc. (b)		400		24,288
IwaiCosmo Holdings, Inc.		7,900		111,680
Iwaki & Co., Ltd.		9,000		47,503
Iwasaki Electric Co., Ltd.		2,500		35,693
Iwatani Corp.		11,600		413,041
Iwatsuka Confectionery Co., Ltd.		500		21,539
J Trust Co., Ltd.		3,300		20,039
J-Oil Mills, Inc.		4,000		137,119
JAC Recruitment Co., Ltd.		1,600		36,548
Jaccs Co., Ltd.		1,500		31,696
Jafco Co., Ltd.		6,400		248,957
Jalux, Inc.		2,400		60,214
Jamco Corp.		3,400		96,228
Janome Sewing Machine Co., Ltd.		7,099		44,055
Japan Asia Investment Co., Ltd. (b)		4,900		13,838
Japan Asset Marketing Co., Ltd. (b)		29,300		32,234
Japan Aviation Electronics Industry, Ltd.		8,000		134,796
Japan Best Rescue System Co., Ltd.		2,900		31,687
Japan Display, Inc. (b) (e)		81,900		90,117
Japan Elevator Service Holdings Co., Ltd.		2,400		35,824
Japan Foundation Engineering Co., Ltd.		10,200		36,477
Japan Investment Adviser Co., Ltd.		800		30,109
Japan Lifeline Co., Ltd. (e)		10,000		211,617
Japan Material Co., Ltd.		5,400		72,404
Japan Meat Co., Ltd.		700		14,015
Japan Medical Dynamic Marketing, Inc.		3,000		33,064
Japan Oil Transportation Co., Ltd.		700		18,170
Japan Petroleum Exploration Co., Ltd.		7,000		160,130
Japan Property Management Center Co., Ltd.		2,000		23,527
Japan Pulp & Paper Co., Ltd.		3,700		155,193
Japan Securities Finance Co., Ltd.		5,400		32,365
Japan Steel Works, Ltd. (The)		13,000		316,587
Japan Transcity Corp.		12,000		54,560
Japan Wool Textile Co., Ltd. (The)		19,700		162,976
Jastec Co., Ltd.		5,100		54,044
JBCC Holdings, Inc.		7,000		90,890
JCU Corp.		6,400		153,992
Jeol, Ltd.		11,000		238,806
JIG-SAW, Inc. (b)		900		27,359
Jimoto Holdings, Inc.		67,900		111,170
JINS, Inc.		4,200		224,004
JK Holdings Co., Ltd.		5,600		40,766
JMS Co., Ltd.		7,500		42,846
Joban Kosan Co., Ltd.		1,700		27,201
Joshin Denki Co., Ltd.		7,000		206,373
JP-Holdings, Inc.		17,900		49,141
JSP Corp.		5,100		130,130
Juki Corp.		11,200		138,938
Juroku Bank, Ltd. (The)		12,200		310,407
Justsystems Corp.		9,700		224,710
JVC Kenwood Corp.		53,300		149,582
K&O Energy Group, Inc.		5,400		84,168
kabu.com Securities Co., Ltd.		47,800		161,571
Kadokawa Dwango (b)		12,508		136,779
Kaga Electronics Co., Ltd.		7,200		149,430
Kakiyasu Honten Co., Ltd.		3,800		87,780

Security Description	Shares		Value
Japan—(Continued)
Kamakura Shinsho, Ltd.		2,400	$	31,472
Kameda Seika Co., Ltd.		4,100		193,078
Kamei Corp.		8,700		122,735
Kanaden Corp.		7,200		78,900
Kanagawa Chuo Kotsu Co., Ltd.		2,400		81,640
Kanamoto Co., Ltd.		8,800		312,381
Kandenko Co., Ltd.		28,600		295,251
Kanematsu Corp.		29,800		448,469
Kanematsu Electronics, Ltd.		3,900		133,000
Kanemi Co., Ltd.		100		2,671
Kansai Mirai Financial Group, Inc. (b)		23,031		215,665
Kanto Denka Kogyo Co., Ltd.		15,000		161,484
Kappa Create Co., Ltd.		3,400		40,538
Kasai Kogyo Co., Ltd.		8,600		89,938
Katakura & Co-op Agri Corp.		1,600		16,604
Katakura Industries Co., Ltd.		9,500		117,579
Kato Sangyo Co., Ltd.		7,100		239,237
Kato Works Co., Ltd.		3,800		117,196
Kawada Technologies, Inc.		1,500		90,925
Kawai Musical Instruments Manufacturing Co., Ltd.		2,600		120,556
Kawasaki Kinkai Kisen Kaisha, Ltd.		700		22,111
Kawasaki Kisen Kaisha, Ltd. (b) (e)		12,200		246,630
Kawasumi Laboratories, Inc.		4,900		29,628
Keihanshin Building Co., Ltd.		14,500		110,385
Keihin Co., Ltd./Minato-Ku Tokyo Japan		2,300		33,139
Keihin Corp.		15,600		322,409
Keiyo Bank, Ltd. (The)		44,500		374,488
Keiyo Co., Ltd.		14,400		69,713
Kenko Mayonnaise Co., Ltd.		3,200		80,152
KEY Coffee, Inc.		6,700		123,073
KFC Holdings Japan, Ltd.		4,000		69,973
KH Neochem Co., Ltd.		2,100		81,768
Ki-Star Real Estate Co., Ltd.		600		12,591
Kimoto Co., Ltd.		14,900		39,978
Kimura Chemical Plants Co., Ltd.		3,300		13,387
King Jim Co., Ltd.		5,800		51,100
Kinki Sharyo Co., Ltd. (The) (b)		1,200		27,251
Kintetsu Department Store Co., Ltd. (b)		1,900		65,975
Kintetsu World Express, Inc.		10,800		207,088
Kirindo Holdings Co., Ltd.		800		13,427
Kissei Pharmaceutical Co., Ltd.		8,100		256,759
Kita-Nippon Bank, Ltd. (The)		2,900		67,435
Kitagawa Iron Works Co., Ltd.		3,100		82,550
Kitano Construction Corp.		1,400		50,009
Kitanotatsujin Corp.		7,600		47,172
Kito Corp.		5,900		108,622
Kitz Corp.		31,200		269,707
Kiyo Bank, Ltd. (The)		25,000		400,659
KLab, Inc.		10,600		104,260
KNT-CT Holdings Co., Ltd. (b)		3,300		38,140
Koa Corp.		10,200		176,002
Koatsu Gas Kogyo Co., Ltd.		11,100		94,419
Kobe Bussan Co., Ltd.		2,400		136,450
Kobe Electric Railway Co., Ltd. (b)		500		17,692
Kobelco Eco-Solutions Co., Ltd.		1,200		20,415
Kohnan Shoji Co., Ltd.		10,400		262,742
Kohsoku Corp.		4,000		47,039

BHFTII-80

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Koike Sanso Kogyo Co., Ltd.		700	$	16,439
Kojima Co., Ltd. (b) (e)		12,000		55,039
Kokusai Co., Ltd.		3,400		26,398
Kokuyo Co., Ltd.		26,100		469,788
KOMAIHALTEC, Inc.		1,800		38,690
Komatsu Seiren Co., Ltd.		10,200		95,872
Komatsu Wall Industry Co., Ltd.		2,700		52,524
KOMEDA Holdings Co., Ltd.		6,900		139,545
Komeri Co., Ltd.		12,300		287,408
Komori Corp.		18,900		235,532
Konaka Co., Ltd.		7,300		32,769
Kondotec, Inc.		7,900		79,916
Konishi Co., Ltd.		9,900		155,983
Konoike Transport Co., Ltd.		3,200		54,653
Kosaido Co., Ltd.		3,700		17,196
Koshidaka Holdings Co., Ltd.		10,000		114,711
Kotobuki Spirits Co., Ltd.		6,000		282,503
Kourakuen Holdings Corp.		2,900		42,677
Kozo Keikaku Engineering, Inc.		700		14,571
Krosaki Harima Corp.		1,900		146,512
KRS Corp.		2,200		56,480
KU Holdings Co., Ltd.		8,000		68,235
Kumagai Gumi Co., Ltd.		9,100		251,876
Kumiai Chemical Industry Co., Ltd.		21,195		159,025
Kura Corp.		3,300		214,339
Kurabo Industries, Ltd.		7,600		206,374
Kureha Corp.		5,200		389,454
Kurimoto, Ltd.		3,500		57,671
Kusuri No. Aoki Holdings Co., Ltd.		2,600		207,146
KYB Corp.		7,400		331,583
Kyodo Printing Co., Ltd.		3,000		78,231
Kyoei Steel, Ltd.		6,100		119,001
Kyokuto Boeki Kaisha, Ltd.		1,800		34,233
Kyokuto Kaihatsu Kogyo Co., Ltd.		11,400		180,595
Kyokuto Securities Co., Ltd.		7,600		96,667
Kyokuyo Co., Ltd.		3,500		104,748
KYORIN Holdings, Inc.		15,500		319,895
Kyoritsu Maintenance Co., Ltd.		5,918		250,345
Kyoritsu Printing Co., Ltd.		6,800		20,408
Kyosan Electric Manufacturing Co., Ltd.		16,000		85,084
Kyowa Electronic Instruments Co., Ltd.		8,000		31,407
Kyowa Leather Cloth Co., Ltd.		3,300		29,569
Kyushu Financial Group, Inc.		4,000		19,015
LAC Co., Ltd.		5,900		113,481
Lasertec Corp.		12,200		406,004
LEC, Inc.		8,800		228,312
Leopalace21 Corp.		82,400		459,177
Life Corp.		4,400		112,654
LIFULL Co., Ltd. (e)		17,000		94,280
Like Co., Ltd.		2,100		33,018
Linical Co., Ltd.		1,700		27,342
Link And Motivation, Inc.		8,900		110,759
Lintec Corp.		13,700		350,865
Litalico, Inc. (b)		900		21,130
Look Holdings, Inc.		2,200		25,635
Luckland Co., Ltd.		500		12,762
M&A Capital Partners Co., Ltd. (b)		1,200		72,552

Security Description	Shares		Value
Japan—(Continued)
m-up, Inc.		700	$	18,201
Macnica Fuji Electronics Holdings, Inc. (e)		14,550		257,055
Maeda Corp.		37,300		492,508
Maeda Kosen Co., Ltd.		5,700		121,430
Maeda Road Construction Co., Ltd.		21,000		427,111
Maezawa Kasei Industries Co., Ltd.		5,700		61,811
Maezawa Kyuso Industries Co., Ltd.		3,900		68,369
Makino Milling Machine Co., Ltd.		8,000		341,641
Mamezou Holdings Co., Ltd.		2,200		18,636
Mamiya-Op Co., Ltd.		1,900		16,790
Mandom Corp.		8,000		254,167
Mani, Inc.		5,700		277,913
MarkLines Co., Ltd.		1,600		27,838
Mars Engineering Corp.		3,600		76,163
Marubun Corp.		8,200		59,768
Marudai Food Co., Ltd.		7,600		147,442
Marufuji Sheet Piling Co., Ltd.		1,300		30,030
Maruha Nichiro Corp.		12,000		442,426
Maruka Machinery Co., Ltd.		900		17,070
Marumae Co., Ltd.		1,000		9,584
Marusan Securities Co., Ltd.		8,700		74,050
Maruwa Co., Ltd.		3,700		246,933
Maruwa Unyu Kikan Co., Ltd.		1,100		41,112
Maruyama Manufacturing Co., Inc.		1,500		24,205
Maruzen CHI Holdings Co., Ltd. (b)		11,900		39,624
Maruzen Showa Unyu Co., Ltd.		4,600		118,455
Marvelous, Inc.		9,500		77,748
Matching Service Japan Co., Ltd.		1,200		25,158
Matsuda Sangyo Co., Ltd.		5,900		82,679
Matsui Construction Co., Ltd.		7,800		63,498
Matsuya Foods Co., Ltd.		2,500		79,754
Max Co., Ltd.		11,000		164,285
Maxvalu Nishinihon Co., Ltd.		2,400		39,344
Maxvalu Tokai Co., Ltd.		3,500		77,807
MCJ Co., Ltd.		14,000		123,337
MEC Co., Ltd.		5,800		98,362
Media Do Holdings Co., Ltd.		1,000		23,469
Medical Data Vision Co., Ltd. (b) (e)		3,800		63,845
Medical System Network Co., Ltd.		5,300		22,007
Megachips Corp. (e)		2,500		52,585
Megmilk Snow Brand Co., Ltd.		8,000		205,450
Meidensha Corp.		11,600		189,888
Meiji Shipping Co., Ltd.		8,500		31,423
Meiko Electronics Co., Ltd.		7,500		206,507
Meiko Network Japan Co., Ltd.		7,200		66,780
Meisei Industrial Co., Ltd.		13,500		107,421
Meitec Corp.		7,700		370,687
Meito Sangyo Co., Ltd.		3,000		44,833
Meiwa Corp.		8,100		35,792
Meiwa Estate Co., Ltd.		5,200		29,797
Menicon Co., Ltd.		2,700		65,858
Mercuria Investment Co., Ltd.		2,100		18,203
METAWATER Co., Ltd.		600		17,243
Michinoku Bank, Ltd. (The)		5,700		89,956
Micronics Japan Co., Ltd.		1,400		9,835
Mikuni Corp.		3,000		20,058
Milbon Co., Ltd.		7,320		335,701

BHFTII-81

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
MIMAKI ENGINEERING Co., Ltd.		1,900	$	18,799
Mimasu Semiconductor Industry Co., Ltd.		6,800		108,919
Ministop Co., Ltd.		5,400		103,701
Miraca Holdings, Inc.		10,200		265,273
Miraial Co., Ltd.		2,900		28,994
Mirait Holdings Corp. (e)		22,200		382,404
Miroku Jyoho Service Co., Ltd.		5,900		132,188
Misawa Homes Co., Ltd.		6,700		52,373
Mitani Corp.		6,900		329,298
Mitani Sekisan Co., Ltd.		4,100		106,745
Mito Securities Co., Ltd.		24,000		82,185
Mitsuba Corp.		12,300		114,564
Mitsubishi Logisnext Co., Ltd.		8,000		104,339
Mitsubishi Paper Mills, Ltd.		12,000		70,561
Mitsubishi Pencil Co., Ltd.		6,400		117,722
Mitsubishi Research Institute, Inc.		2,000		76,900
Mitsubishi Shokuhin Co., Ltd.		4,800		128,191
Mitsubishi Steel Manufacturing Co., Ltd.		5,900		113,093
Mitsuboshi Belting, Ltd.		8,500		224,475
Mitsui Engineering & Shipbuilding Co., Ltd. (b)		30,000		538,747
Mitsui High-Tec, Inc.		9,500		133,564
Mitsui Matsushima Co., Ltd.		5,200		86,324
Mitsui Mining & Smelting Co., Ltd.		1,100		31,849
Mitsui Sugar Co., Ltd.		6,100		175,031
Mitsui-Soko Holdings Co., Ltd. (b)		7,400		135,041
Mitsumura Printing Co., Ltd.		500		10,443
Mitsuuroko Group Holdings Co., Ltd.		12,900		94,698
Miyaji Engineering Group, Inc.		1,800		46,948
Miyazaki Bank, Ltd. (The)		6,000		175,875
Miyoshi Oil & Fat Co., Ltd.		2,800		32,704
Mizuno Corp.		6,600		166,041
Mochida Pharmaceutical Co., Ltd.		3,500		289,296
Modec, Inc.		3,000		98,111
Monex Group, Inc. (e)		65,600		315,299
Money Partners Group Co., Ltd.		7,100		24,807
Monogatari Corp. (The)		1,700		166,551
MORESCO Corp.		2,500		37,473
Morinaga Milk Industry Co., Ltd.		10,400		282,285
Morita Holdings Corp.		11,200		253,526
Morozoff, Ltd.		900		48,241
Mory Industries, Inc.		2,800		76,646
Mr. Max Holdings, Ltd.		10,500		56,653
MTI, Ltd.		9,200		51,284
Mugen Estate Co., Ltd.		400		2,422
Murakami Corp.		3,000		74,193
Musashi Seimitsu Industry Co., Ltd.		15,800		257,735
Musashino Bank, Ltd. (The)		11,200		323,306
Mutoh Holdings Co., Ltd.		900		18,630
Mynet, Inc. (b)		1,000		10,643
N Field Co., Ltd.		1,300		22,276
NAC Co., Ltd.		3,600		36,189
Nachi-Fujikoshi Corp.		6,000		295,274
Nafco Co., Ltd.		1,400		22,495
Nagaileben Co., Ltd.		4,600		109,976
Nagano Bank, Ltd. (The)		3,500		53,481
Nagano Keiki Co., Ltd.		4,200		44,042
Nagase & Co., Ltd.		10,300		180,933

Security Description	Shares		Value
Japan—(Continued)
Nagatanien Holdings Co., Ltd.		4,000	$	108,788
Nagawa Co., Ltd.		2,800		132,796
Nakabayashi Co., Ltd.		5,500		32,535
Nakamura Choukou Co., Ltd. (b) (e)		500		8,312
Nakamuraya Co., Ltd.		1,600		68,227
Nakanishi, Inc.		12,300		255,908
Nakano Corp.		4,000		24,611
Nakayama Steel Works, Ltd.		6,300		40,420
Nakayamafuku Co., Ltd.		2,000		12,516
Namura Shipbuilding Co., Ltd.		18,956		99,095
Nanto Bank, Ltd. (The)		9,200		233,395
Narasaki Sangyo Co., Ltd.		800		14,171
Natori Co., Ltd.		2,600		43,289
NDS Co., Ltd. (b)		2,200		134,872
NEC Capital Solutions, Ltd.		3,800		64,584
NEC Networks & System Integration Corp.		7,800		180,782
NET One Systems Co., Ltd.		22,500		540,379
Neturen Co., Ltd.		9,800		100,249
New Japan Chemical Co., Ltd. (b)		9,900		19,870
Nextage Co., Ltd.		5,900		44,862
Nexyz Group Corp.		1,300		23,767
Nice Holdings, Inc.		3,100		36,617
Nichi-iko Pharmaceutical Co., Ltd.		13,200		196,104
Nichia Steel Works, Ltd.		13,000		39,938
Nichias Corp.		16,500		429,216
Nichiban Co., Ltd.		4,000		96,202
Nichicon Corp.		20,100		197,827
Nichiden Corp.		5,200		91,633
Nichiha Corp.		9,000		237,967
NichiiGakkan Co., Ltd.		11,800		99,904
Nichimo Co., Ltd.		1,600		23,911
Nichireki Co., Ltd.		9,000		97,400
Nihon Chouzai Co., Ltd.		1,660		52,137
Nihon Dempa Kogyo Co., Ltd. (b)		7,600		34,115
Nihon Eslead Corp.		2,700		37,901
Nihon Flush Co., Ltd.		400		8,398
Nihon House Holdings Co., Ltd.		15,000		84,357
Nihon Kagaku Sangyo Co., Ltd.		3,000		37,131
Nihon Nohyaku Co., Ltd. (e)		14,000		98,481
Nihon Parkerizing Co., Ltd.		24,800		335,245
Nihon Plast Co., Ltd.		2,500		23,067
Nihon Tokushu Toryo Co., Ltd.		2,200		51,044
Nihon Yamamura Glass Co., Ltd.		3,800		61,409
Nikkato Corp.		300		3,365
Nikkiso Co., Ltd.		18,600		243,226
Nikko Co., Ltd.		1,800		38,752
Nikkon Holdings Co., Ltd.		22,600		585,957
Nippon Air Conditioning Services Co., Ltd.		9,600		71,146
Nippon Beet Sugar Manufacturing Co., Ltd.		4,500		82,423
Nippon Carbide Industries Co., Inc.		2,300		36,889
Nippon Carbon Co., Ltd.		1,700		117,745
Nippon Ceramic Co., Ltd.		5,200		138,472
Nippon Chemi-Con Corp.		5,900		165,190
Nippon Chemical Industrial Co., Ltd.		3,000		99,407
Nippon Chemiphar Co., Ltd.		800		32,760
Nippon Coke & Engineering Co., Ltd.		71,000		71,243
Nippon Commercial Development Co., Ltd.		1,400		22,539

BHFTII-82

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Nippon Computer Dynamics Co., Ltd.		1,700	$	17,865
Nippon Concrete Industries Co., Ltd.		14,000		43,895
Nippon Denko Co., Ltd.		43,865		114,197
Nippon Densetsu Kogyo Co., Ltd.		12,500		261,055
Nippon Felt Co., Ltd.		8,600		39,016
Nippon Filcon Co., Ltd.		5,200		28,051
Nippon Fine Chemical Co., Ltd.		4,300		51,627
Nippon Flour Mills Co., Ltd.		22,500		396,637
Nippon Gas Co., Ltd.		5,000		249,541
Nippon Hume Corp.		8,200		76,398
Nippon Kanzai Co., Ltd.		4,800		90,789
Nippon Kinzoku Co., Ltd.		1,900		29,003
Nippon Kodoshi Corp. (e)		1,600		40,317
Nippon Koei Co., Ltd.		5,000		134,012
Nippon Koshuha Steel Co., Ltd.		3,100		21,093
Nippon Light Metal Holdings Co., Ltd.		198,000		441,752
Nippon Paper Industries Co., Ltd.		18,500		340,454
Nippon Parking Development Co., Ltd.		65,100		101,413
Nippon Pillar Packing Co., Ltd.		6,500		93,188
Nippon Piston Ring Co., Ltd.		3,200		67,293
Nippon Rietec Co., Ltd.		5,800		76,672
Nippon Road Co., Ltd. (The)		2,700		156,127
Nippon Seiki Co., Ltd.		15,000		284,415
Nippon Seisen Co., Ltd.		1,200		44,384
Nippon Sharyo, Ltd. (b)		2,600		71,641
Nippon Sheet Glass Co., Ltd.		33,000		359,411
Nippon Signal Co., Ltd.		18,700		191,292
Nippon Soda Co., Ltd.		9,200		282,983
Nippon Steel & Sumikin Bussan Corp.		5,196		260,711
Nippon Suisan Kaisha, Ltd.		80,500		524,114
Nippon Systemware Co., Ltd.		1,300		23,797
Nippon Thompson Co., Ltd.		23,200		154,222
Nippon Valqua Industries, Ltd.		6,000		168,299
Nippon Yakin Kogyo Co., Ltd.		54,000		156,887
Nipro Corp.		23,800		325,087
Nishi-Nippon Financial Holdings, Inc.		20,000		231,349
Nishi-Nippon Railroad Co., Ltd.		12,200		330,169
Nishikawa Rubber Co., Ltd.		1,200		22,006
Nishimatsu Construction Co., Ltd.		19,400		491,040
Nishimatsuya Chain Co., Ltd.		8,800		88,116
Nishio Rent All Co., Ltd.		4,400		146,875
Nissan Shatai Co., Ltd.		1,300		11,730
Nissan Tokyo Sales Holdings Co., Ltd.		11,000		34,956
Nissei ASB Machine Co., Ltd.		2,100		87,874
Nissei Build Kogyo Co., Ltd. (a) (b) (d)		9,000		86,816
Nissei Corp.		3,700		39,402
Nissei Plastic Industrial Co., Ltd.		6,000		61,667
Nissha Co., Ltd.		7,200		140,523
Nisshin Fudosan Co.		12,300		64,205
Nisshin Oillio Group, Ltd. (The)		10,200		299,070
Nisshin Steel Co., Ltd.		6,196		92,919
Nisshinbo Holdings, Inc.		46,120		549,338
Nissin Corp.		6,000		139,987
Nissin Electric Co., Ltd.		14,800		134,710
Nissin Kogyo Co., Ltd.		15,200		255,756
Nissui Pharmaceutical Co., Ltd.		5,100		60,824
Nitta Corp.		6,800		259,200

Security Description	Shares		Value
Japan—(Continued)
Nitta Gelatin, Inc.		4,500	$	33,340
Nittan Valve Co., Ltd.		6,300		20,434
Nittetsu Mining Co., Ltd.		2,200		105,548
Nitto Boseki Co., Ltd.		9,800		229,163
Nitto FC Co., Ltd.		4,500		30,359
Nitto Fuji Flour Milling Co., Ltd.		400		19,080
Nitto Kogyo Corp.		9,000		166,413
Nitto Kohki Co., Ltd.		4,100		95,188
Nitto Seiko Co., Ltd.		12,500		81,494
Nittoc Construction Co., Ltd.		11,050		71,738
Nittoku Engineering Co., Ltd.		5,200		155,368
NJS Co., Ltd.		3,300		51,857
Noevir Holdings Co., Ltd.		1,500		81,735
NOF Corp.		7,900		266,635
Nohmi Bosai, Ltd.		7,000		156,196
Nojima Corp.		4,200		92,002
Nomura Co., Ltd.		12,000		247,762
Noritake Co., Ltd.		4,200		265,092
Noritsu Koki Co., Ltd.		4,000		111,207
Noritz Corp.		11,400		180,793
North Pacific Bank, Ltd.		122,400		414,730
NS Tool Co., Ltd.		800		20,750
NS United Kaiun Kaisha, Ltd.		4,100		94,495
NSD Co., Ltd.		10,670		236,980
Nuflare Technology, Inc.		800		41,479
OAK Capital Corp.		15,500		26,538
Oat Agrio Co., Ltd.		200		4,940
Obara Group, Inc.		3,500		168,847
Odelic Co., Ltd.		1,000		37,361
Oenon Holdings, Inc.		21,000		75,592
Ogaki Kyoritsu Bank, Ltd. (The)		12,500		319,994
Ohashi Technica, Inc.		4,600		66,603
Ohsho Food Service Corp.		3,600		250,799
Oiles Corp.		8,000		172,352
Oita Bank, Ltd. (The)		5,700		207,433
Okabe Co., Ltd.		14,000		137,163
Okada Aiyon Corp.		1,900		31,134
Okamoto Industries, Inc.		3,200		174,891
Okamoto Machine Tool Works, Ltd.		1,400		48,259
Okamura Corp.		21,800		291,624
Okasan Securities Group, Inc.		29,000		149,307
Okaya Electric Industries Co., Ltd.		5,800		27,674
Oki Electric Industry Co., Ltd.		22,700		298,337
Okinawa Cellular Telephone Co.		4,400		159,173
Okinawa Electric Power Co., Inc. (The)		16,883		355,893
OKK Corp.		3,100		31,490
OKUMA Corp. (e)		7,200		400,049
Okumura Corp.		11,400		357,679
Okura Industrial Co., Ltd.		3,000		60,860
Okuwa Co., Ltd.		10,000		101,819
Olympic Group Corp. (e)		4,900		44,422
ONO Sokki Co., Ltd.		4,200		31,789
Onoken Co., Ltd.		6,500		104,304
Onward Holdings Co., Ltd.		49,000		328,223
Ootoya Holdings Co., Ltd.		600		11,855
Open Door, Inc. (b)		1,300		38,202
Optex Group Co., Ltd.		9,400		185,172

BHFTII-83

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Organo Corp.		2,800	$	78,009
Origin Electric Co., Ltd.		3,400		53,039
Oro Co., Ltd.		100		5,432
Osaka Organic Chemical Industry, Ltd.		5,900		75,670
Osaka Soda Co., Ltd. (e)		5,000		132,675
Osaka Steel Co., Ltd.		5,900		114,220
OSAKA Titanium Technologies Co., Ltd.		4,100		65,742
Osaki Electric Co., Ltd.		11,000		84,825
OSG Corp.		14,800		336,963
OSJB Holdings Corp.		7,600		20,598
Otsuka Kagu, Ltd. (e)		5,500		14,038
OUG Holdings, Inc.		700		17,099
Outsourcing, Inc. (e)		15,500		227,221
Oyo Corp.		7,400		99,533
Pacific Industrial Co., Ltd.		16,700		276,129
Pacific Metals Co., Ltd. (e)		6,100		226,880
Pack Corp. (The)		4,600		170,233
Pal Group Holdings Co., Ltd.		3,800		95,514
Paltac Corp.		1,950		106,590
Paramount Bed Holdings Co., Ltd.		6,000		295,776
Parco Co., Ltd.		8,100		90,548
Paris Miki Holdings, Inc.		10,600		45,246
Pasco Corp. (b)		1,200		14,653
Pasona Group, Inc.		6,200		91,942
PC Depot Corp.		1,900		9,259
PCI Holdings, Inc.		900		23,546
Penta-Ocean Construction Co., Ltd.		90,500		603,058
Pepper Food Service Co., Ltd. (e)		2,700		95,406
Phil Co., Inc. (b)		500		22,222
PIA Corp.		700		36,224
Pilot Corp.		4,900		294,537
Piolax, Inc.		10,500		233,045
Pioneer Corp. (b) (e)		117,700		120,163
Plenus Co., Ltd. (e)		7,800		127,151
Poletowin Pitcrew Holdings, Inc.		2,900		77,227
Press Kogyo Co., Ltd.		37,000		195,258
Pressance Corp.		10,400		132,991
Prestige International, Inc.		13,400		160,554
Prima Meat Packers, Ltd.		9,600		226,512
Pro-Ship, Inc.		700		16,953
Pronexus, Inc.		6,700		71,373
Proto Corp.		4,400		62,075
PS Mitsubishi Construction Co., Ltd.		8,800		45,531
Punch Industry Co., Ltd.		2,700		18,730
Qol Co., Ltd.		3,400		74,436
Quick Co., Ltd.		1,600		30,083
Raccoon Co., Ltd.		2,300		12,325
Raito Kogyo Co., Ltd.		16,900		241,530
Rakus Co., Ltd.		2,900		62,346
Rasa Industries, Ltd.		2,600		54,734
Raysum Co., Ltd.		3,000		42,206
RECOMM Co., Ltd.		14,500		32,915
Remixpoint, Inc.		6,300		54,303
Renaissance, Inc.		2,800		58,133
RENOVA, Inc. (b)		4,800		59,691
Renown, Inc. (b)		29,200		32,641
Resort Solution Co., Ltd.		400		15,791

Security Description	Shares		Value
Japan—(Continued)
Resorttrust, Inc. (e)		11,700	$	192,923
Retail Partners Co., Ltd.		1,300		17,025
Rheon Automatic Machinery Co., Ltd.		5,000		89,547
Rhythm Watch Co., Ltd.		2,500		47,548
Riberesute Corp.		4,300		36,218
Ricoh Leasing Co., Ltd.		5,600		184,603
Ride On Express Holdings Co., Ltd.		600		8,533
Right On Co., Ltd.		5,900		55,598
Riken Corp.		3,500		194,981
Riken Keiki Co., Ltd.		6,000		129,607
Riken Technos Corp.		15,000		79,887
Riken Vitamin Co., Ltd.		2,700		93,623
Ringer Hut Co., Ltd. (e)		4,200		88,931
Rion Co., Ltd.		2,200		48,801
Riso Kagaku Corp.		9,458		228,467
Riso Kyoiku Co., Ltd.		11,590		94,062
Rock Field Co., Ltd.		6,600		109,259
Rokko Butter Co., Ltd.		3,600		82,089
Roland DG Corp.		3,000		72,542
Rorze Corp.		1,900		39,094
Round One Corp.		22,000		291,395
Royal Holdings Co., Ltd.		8,300		216,556
Rozetta Corp. (b)		200		3,860
RS Technologies Co., Ltd.		700		33,603
Ryobi, Ltd.		9,400		369,209
Ryoden Corp.		4,500		68,152
Ryosan Co., Ltd.		10,800		392,629
Ryoyo Electro Corp.		7,800		120,481
S Foods, Inc.		4,100		176,486
S&B Foods, Inc.		600		45,838
S-Pool, Inc.		700		12,208
Sac’s Bar Holdings, Inc.		6,850		57,038
Sagami Rubber Industries Co., Ltd.		1,000		22,700
Saibu Gas Co., Ltd.		12,200		289,942
Saizeriya Co., Ltd.		9,200		179,744
Sakai Chemical Industry Co., Ltd.		6,000		148,011
Sakai Heavy Industries, Ltd.		1,400		46,114
Sakai Moving Service Co., Ltd.		2,600		147,751
Sakai Ovex Co., Ltd.		1,600		34,286
Sakata INX Corp.		11,800		149,643
Sakura Internet, Inc.		4,400		27,958
Sala Corp.		12,900		79,936
SAMTY Co., Ltd.		2,600		37,789
San Holdings, Inc.		1,400		34,683
San ju San Financial Group, Inc.		7,870		166,541
San-A Co., Ltd.		5,700		254,844
San-Ai Oil Co., Ltd.		20,000		244,503
San-In Godo Bank, Ltd. (The)		59,000		518,212
Sanden Holdings Corp. (b)		8,400		115,323
Sanei Architecture Planning Co., Ltd.		3,500		54,090
Sangetsu Corp.		17,200		337,623
Sanix, Inc. (b)		7,800		18,251
Sanken Electric Co., Ltd.		7,400		193,815
Sanki Engineering Co., Ltd.		17,900		192,187
Sanko Metal Industrial Co., Ltd.		1,000		30,938
Sankyo Frontier Co., Ltd.		1,000		32,114
Sankyo Seiko Co., Ltd.		13,400		56,949

BHFTII-84

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Sankyo Tateyama, Inc.		9,600	$	121,692
Sanoh Industrial Co., Ltd.		10,100		70,932
Sanshin Electronics Co., Ltd.		8,500		152,830
Sanyo Chemical Industries, Ltd.		4,200		214,066
Sanyo Denki Co., Ltd.		1,800		86,073
Sanyo Electric Railway Co., Ltd.		4,000		88,292
Sanyo Housing Nagoya Co., Ltd.		3,000		29,680
Sanyo Industries, Ltd.		1,300		24,843
Sanyo Shokai, Ltd.		5,100		99,564
Sanyo Special Steel Co., Ltd.		8,600		209,885
Sapporo Holdings, Ltd.		13,200		274,319
Sata Construction Co., Ltd.		2,600		9,975
Sato Holdings Corp.		6,900		228,635
Sato Shoji Corp.		6,500		70,717
Satori Electric Co., Ltd.		5,500		49,335
Sawada Holdings Co., Ltd.		10,300		99,809
Sawai Pharmaceutical Co., Ltd. (e)		8,600		463,867
Saxa Holdings, Inc.		2,400		47,779
SBS Holdings, Inc.		6,900		97,484
Scala, Inc.		2,300		24,072
Scroll Corp.		13,100		80,166
Secom Joshinetsu Co., Ltd.		900		27,088
Seed Co., Ltd.		1,700		30,353
Seibu Electric Industry Co., Ltd. (b)		2,400		90,602
Seika Corp.		4,200		74,201
Seikagaku Corp.		700		10,654
Seikitokyu Kogyo Co., Ltd. (b)		12,500		77,789
Seiko Holdings Corp.		8,800		247,800
Seiren Co., Ltd.		19,100		323,753
Sekisui Jushi Corp.		10,200		193,490
Sekisui Plastics Co., Ltd.		10,300		100,104
Senko Group Holdings Co., Ltd.		31,000		257,938
Senshu Electric Co., Ltd.		2,400		66,324
Senshu Ikeda Holdings, Inc.		84,000		281,669
Senshukai Co., Ltd. (b)		11,000		41,849
SFP Holdings Co., Ltd.		700		11,157
Shibaura Electronics Co., Ltd.		2,800		130,810
Shibaura Mechatronics Corp.		900		30,940
Shibusawa Warehouse Co., Ltd. (The)		4,200		65,735
Shibuya Corp.		4,800		178,904
Shidax Corp.		9,600		32,023
SHIFT, Inc. (b)		1,300		58,023
Shiga Bank, Ltd. (The) (e)		17,800		458,064
Shikibo, Ltd.		4,700		55,379
Shikoku Bank, Ltd. (The)		14,000		170,943
Shikoku Chemicals Corp.		13,000		180,465
Shima Seiki Manufacturing, Ltd.		4,600		203,226
Shimachu Co., Ltd.		19,600		631,341
Shimane Bank, Ltd. (The)		2,500		26,867
Shimizu Bank, Ltd. (The)		3,400		63,983
Shimojima Co., Ltd.		6,300		62,713
Shin Nippon Air Technologies Co., Ltd.		4,600		68,749
Shin Nippon Biomedical Laboratories, Ltd. (b)		2,500		13,665
Shin-Etsu Polymer Co., Ltd.		16,900		138,807
Shin-Keisei Electric Railway Co., Ltd.		2,900		58,248
Shinagawa Refractories Co., Ltd.		2,000		89,348
Shindengen Electric Manufacturing Co., Ltd.		2,800		133,851

Security Description	Shares		Value
Japan—(Continued)
Shinkawa, Ltd. (b)		5,300	$	27,261
Shinko Electric Industries Co., Ltd.		27,600		232,212
Shinko Plantech Co., Ltd.		16,100		167,495
Shinko Shoji Co., Ltd.		7,700		112,376
Shinko Wire Co., Ltd.		1,200		14,659
Shinmaywa Industries, Ltd.		34,000		460,813
Shinnihon Corp.		10,200		111,163
Shinoken Group Co., Ltd. (e)		4,900		51,921
Shinsho Corp.		1,400		39,191
Shinwa Co., Ltd.		3,900		75,217
Ship Healthcare Holdings, Inc.		12,000		463,989
Shizuki Electric Co., Inc.		8,000		55,955
Shizuoka Gas Co., Ltd.		21,300		188,815
Shobunsha Publications, Inc.		4,800		28,263
Shoei Co., Ltd.		2,600		112,253
Shoei Foods Corp.		3,400		125,523
Shofu, Inc.		3,900		47,061
Shoko Co., Ltd. (b)		1,900		16,105
Showa Aircraft Industry Co., Ltd.		4,000		45,766
Showa Corp.		17,600		269,405
Showa Sangyo Co., Ltd.		6,600		170,091
SIGMAXYZ, Inc.		1,200		13,796
Siix Corp.		9,600		167,155
Sinanen Holdings Co., Ltd.		2,900		74,407
Sinfonia Technology Co., Ltd.		8,400		125,264
Sinko Industries, Ltd.		6,400		106,194
Sintokogio, Ltd.		16,800		169,934
SKY Perfect JSAT Holdings, Inc.		29,800		143,755
SMK Corp.		2,300		62,967
SMS Co., Ltd.		14,600		290,526
SNT Corp.		15,600		69,211
Soda Nikka Co., Ltd.		7,000		42,508
Sodick Co., Ltd.		16,800		152,627
Soft99 Corp.		5,100		48,648
Softbank Technology Corp.		3,200		78,038
Softbrain Co., Ltd.		3,500		15,032
Softcreate Holdings Corp.		700		10,671
Software Service, Inc.		1,200		112,426
Sogo Medical Co., Ltd. (a) (b) (d)		4,800		105,879
Solasto Corp.		8,400		109,251
Soliton Systems KK		600		5,567
Sotoh Co., Ltd.		3,100		27,584
Sourcenext Corp.		5,900		61,390
Space Co., Ltd.		5,060		63,278
Sparx Group Co., Ltd.		35,900		93,767
SPK Corp.		1,700		38,275
SRA Holdings		3,100		94,958
Srg Takamiya Co., Ltd.		5,200		30,924
ST Corp.		600		11,134
St. Marc Holdings Co., Ltd.		5,100		119,047
Star Mica Co., Ltd.		2,400		37,365
Star Micronics Co., Ltd.		4,400		78,253
Starts Corp., Inc.		5,800		128,000
Starzen Co., Ltd.		2,500		107,700
Stella Chemifa Corp.		3,600		130,941
Step Co., Ltd.		4,100		55,212
Strike Co., Ltd.		1,300		43,959

BHFTII-85

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Studio Alice Co., Ltd.		2,900	$	59,911
Subaru Enterprise Co., Ltd.		100		5,228
Sugimoto & Co., Ltd.		3,800		67,565
Sumida Corp.		6,300		81,615
Suminoe Textile Co., Ltd.		2,300		65,787
Sumitomo Densetsu Co., Ltd.		5,400		88,792
Sumitomo Mitsui Construction Co., Ltd.		52,060		349,533
Sumitomo Osaka Cement Co., Ltd. (e)		12,500		518,160
Sumitomo Precision Products Co., Ltd.		1,200		42,594
Sumitomo Riko Co., Ltd.		15,300		154,628
Sumitomo Seika Chemicals Co., Ltd.		3,200		179,674
Sumitomo Warehouse Co., Ltd. (The)		26,500		351,546
Sun Frontier Fudousan Co., Ltd.		7,600		86,971
Sun-Wa Technos Corp.		3,900		47,996
Suncall Corp.		8,300		57,645
SWCC Showa Holdings Co., Ltd.		7,600		53,644
Systena Corp.		20,000		273,437
Syuppin Co., Ltd.		2,600		31,502
T Hasegawa Co., Ltd.		8,400		173,910
T RAD Co., Ltd.		2,900		79,644
T&K Toka Co., Ltd.		8,600		89,250
T-Gaia Corp.		6,500		169,591
Tachi-S Co., Ltd.		10,300		154,143
Tachibana Eletech Co., Ltd.		5,640		96,707
Tadano, Ltd.		22,800		265,067
Taihei Dengyo Kaisha, Ltd.		6,000		158,976
Taiheiyo Kouhatsu, Inc.		2,100		19,071
Taiho Kogyo Co., Ltd.		6,400		75,212
Taikisha, Ltd.		9,100		296,742
Taiko Bank, Ltd. (The)		3,100		61,207
Taisei Lamick Co., Ltd.		2,200		62,120
Taiyo Holdings Co., Ltd.		5,300		203,975
Takachiho Koheki Co., Ltd.		400		3,641
Takamatsu Construction Group Co., Ltd.		5,400		150,678
Takano Co., Ltd.		4,600		40,609
Takaoka Toko Co., Ltd.		4,365		68,801
Takara Holdings, Inc.		15,300		224,773
Takara Leben Co., Ltd.		28,600		86,348
Takara Printing Co., Ltd.		1,300		22,242
Takara Standard Co., Ltd.		14,400		252,073
Takasago International Corp.		5,400		197,736
Takasago Thermal Engineering Co., Ltd.		16,800		303,993
Takashima & Co., Ltd.		2,500		46,176
Take And Give Needs Co., Ltd.		4,010		82,221
Takeei Corp.		8,200		60,077
Takeuchi Manufacturing Co., Ltd.		10,000		269,742
Takihyo Co., Ltd.		2,000		37,757
Takisawa Machine Tool Co., Ltd.		2,200		34,238
Takuma Co., Ltd.		25,000		330,804
Tama Home Co., Ltd.		5,900		58,337
Tamron Co., Ltd.		6,000		127,820
Tamura Corp.		26,000		162,743
Tanseisha Co., Ltd.		11,750		123,064
Tateru, Inc. (e)		3,600		23,380
Tatsuta Electric Wire and Cable Co., Ltd.		17,000		94,876
Tayca Corp.		6,000		142,676
Tazmo Co., Ltd.		900		9,441

Security Description	Shares		Value
Japan—(Continued)
TBK Co., Ltd.		8,000	$	35,702
Teac Corp. (b) (e)		4,000		12,242
TechMatrix Corp.		2,900		57,712
TECHNO ASSOCIE Co., Ltd.		300		3,298
Techno Medica Co., Ltd.		2,400		44,570
Techno Ryowa, Ltd.		4,800		38,267
TechnoPro Holdings, Inc.		6,700		415,833
Tecnos Japan, Inc.		2,000		18,447
Teikoku Electric Manufacturing Co., Ltd.		6,800		101,899
Teikoku Sen-I Co., Ltd.		6,900		182,420
Teikoku Tsushin Kogyo Co., Ltd.		3,000		34,389
Tenma Corp.		6,200		110,495
Tenpos Holdings Co., Ltd.		700		13,375
Teraoka Seisakusho Co., Ltd.		200		1,240
Tigers Polymer Corp.		2,200		15,002
TKC Corp.		6,700		280,184
Toa Corp.		9,600		112,117
Toa Corp.		5,800		127,583
Toa Oil Co., Ltd.		3,200		75,767
TOA ROAD Corp.		1,800		60,445
Toabo Corp.		3,400		16,788
Toagosei Co., Ltd.		37,000		426,898
Tobishima Corp.		5,560		93,951
TOC Co., Ltd.		15,800		112,100
Tocalo Co., Ltd.		19,200		197,785
Tochigi Bank, Ltd. (The)		38,200		127,786
Toda Corp.		4,600		33,197
Toda Kogyo Corp.		1,100		28,990
Toei Animation Co., Ltd.		4,300		133,598
Toei Co., Ltd.		2,500		300,781
Toell Co., Ltd.		1,400		12,654
Toenec Corp.		3,200		90,978
Toho Bank, Ltd. (The)		83,000		307,530
Toho Co., Ltd.		2,700		54,055
Toho Holdings Co., Ltd. (e)		19,600		520,152
Toho Titanium Co., Ltd.		4,500		54,177
Toho Zinc Co., Ltd.		5,000		198,456
Tohoku Bank, Ltd. (The)		4,700		56,284
Tohokushinsha Film Corp.		4,800		27,882
Tohto Suisan Co., Ltd.		1,400		29,204
Tokai Corp.		7,800		179,582
TOKAI Holdings Corp.		23,700		237,785
Tokai Lease Co., Ltd.		1,600		28,586
Tokai Rika Co., Ltd.		8,800		188,636
Tokai Tokyo Financial Holdings, Inc.		45,600		262,536
Token Corp.		2,460		161,293
Tokushu Tokai Paper Co., Ltd.		3,300		138,700
Tokuyama Corp.		12,600		347,467
Tokyo Base Co., Ltd. (b)		2,200		12,479
Tokyo Dome Corp.		31,000		271,437
Tokyo Electron Device, Ltd.		2,400		40,915
Tokyo Energy & Systems, Inc.		8,000		80,547
Tokyo Individualized Educational Institute, Inc.		1,400		18,423
Tokyo Keiki, Inc.		4,200		44,698
Tokyo Ohka Kogyo Co., Ltd.		13,100		388,302
Tokyo Rakutenchi Co., Ltd.		1,300		59,495
Tokyo Rope Manufacturing Co., Ltd.		4,600		60,172

BHFTII-86

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Tokyo Sangyo Co., Ltd.		12,000	$	86,511
Tokyo Seimitsu Co., Ltd.		13,800		358,515
Tokyo Steel Manufacturing Co., Ltd.		36,800		269,307
Tokyo Tekko Co., Ltd.		3,400		54,521
Tokyo Theatres Co., Inc.		2,900		34,968
Tokyo TY Financial Group, Inc.		9,724		206,725
Tokyotokeiba Co., Ltd.		3,100		119,302
Tokyu Construction Co., Ltd.		2,900		27,998
Tokyu Recreation Co., Ltd.		1,200		53,020
Toli Corp.		20,000		64,085
Tomato Bank, Ltd.		4,200		54,583
Tomen Devices Corp.		1,500		36,793
Tomoe Corp.		12,500		54,138
Tomoe Engineering Co., Ltd.		2,100		42,736
Tomoegawa Co., Ltd.		2,400		31,307
Tomoku Co., Ltd.		5,400		100,242
TOMONY Holdings, Inc.		56,900		242,871
Tomy Co., Ltd.		22,400		230,456
Tonami Holdings Co., Ltd.		2,200		140,372
Topcon Corp.		19,200		350,556
Toppan Forms Co., Ltd.		19,800		190,156
Topre Corp.		11,900		300,865
Topy Industries, Ltd.		6,800		200,183
Toridolll Holdings Corp. (e)		6,900		150,147
Torigoe Co., Ltd. (The)		7,100		64,027
Torii Pharmaceutical Co., Ltd.		3,600		86,672
Torikizoku Co., Ltd.		900		18,812
Torishima Pump Manufacturing Co., Ltd.		7,700		74,476
Tosei Corp.		13,200		136,501
Toshiba Machine Co., Ltd.		8,400		187,915
Toshiba Plant Systems & Services Corp.		11,500		245,785
Toshiba TEC Corp.		3,600		104,888
Tosho Co., Ltd.		4,800		194,463
Tosho Printing Co., Ltd.		7,000		49,207
Totetsu Kogyo Co., Ltd.		8,400		215,946
Tottori Bank, Ltd. (The)		3,700		54,127
Toukei Computer Co., Ltd.		1,400		40,845
Tow Co., Ltd.		3,600		26,841
Towa Bank, Ltd. (The)		11,500		106,901
Towa Corp.		8,000		76,139
Towa Pharmaceutical Co., Ltd.		2,800		207,457
Toyo Construction Co., Ltd.		25,499		103,904
Toyo Corp.		9,600		78,345
Toyo Denki Seizo KK		3,200		50,048
Toyo Engineering Corp. (b) (e)		7,600		60,629
Toyo Ink SC Holdings Co., Ltd.		15,200		408,561
Toyo Kanetsu KK		3,800		95,621
Toyo Machinery & Metal Co., Ltd.		6,000		40,458
Toyo Securities Co., Ltd.		23,000		54,263
Toyo Sugar Refining Co., Ltd.		900		9,746
Toyo Tanso Co., Ltd.		4,600		136,429
Toyo Tire & Rubber Co., Ltd.		12,100		218,055
Toyo Wharf & Warehouse Co., Ltd.		2,500		37,958
Toyobo Co., Ltd.		33,200		563,482
TPR Co., Ltd.		7,300		193,108
Trancom Co., Ltd.		2,300		168,212
Transaction Co., Ltd.		1,400		9,661

Security Description	Shares		Value
Japan—(Continued)
Tri Chemical Laboratories, Inc.		1,000	$	41,672
Trusco Nakayama Corp.		12,600		348,642
Trust Tech, Inc.		3,000		116,686
TSI Holdings Co., Ltd.		28,205		205,585
Tsubaki Nakashima Co., Ltd.		3,700		76,257
Tsubakimoto Chain Co.		9,000		416,635
Tsubakimoto Kogyo Co., Ltd.		1,600		48,539
Tsudakoma Corp. (b)		1,600		31,314
Tsugami Corp.		17,000		168,311
Tsukada Global Holdings, Inc.		7,200		41,178
Tsukamoto Corp. Co., Ltd.		2,100		23,137
Tsukishima Kikai Co., Ltd.		8,600		118,829
Tsukuba Bank, Ltd.		34,500		83,497
Tsukui Corp.		18,800		184,429
Tsurumi Manufacturing Co., Ltd.		6,100		100,676
Tsutsumi Jewelry Co., Ltd.		3,200		61,776
TTK Co., Ltd. (b)		4,000		32,398
TV Asahi Holdings Corp.		600		11,522
TV Tokyo Holdings Corp.		3,700		91,677
TYK Corp.		6,000		26,145
U-Shin, Ltd. (b)		8,400		57,518
UACJ Corp.		10,685		255,933
Uchida Yoko Co., Ltd.		4,200		114,218
Ueki Corp.		1,100		25,861
UKC Holdings Corp.		5,000		115,276
Ulvac, Inc.		6,700		251,482
UMC Electronics Co., Ltd.		700		13,575
Umenohana Co., Ltd.		600		14,316
Uniden Holdings Corp.		2,500		63,811
Union Tool Co.		3,400		127,170
Unipres Corp.		13,900		270,304
United Arrows, Ltd.		6,000		255,258
United Super Markets Holdings, Inc.		20,700		257,601
UNITED, Inc.		2,200		54,462
Unitika, Ltd. (b)		15,600		99,428
Unizo Holdings Co., Ltd. (e)		6,000		115,664
Usen-Next Holdings Co., Ltd. (b)		2,700		34,443
Ushio, Inc.		39,000		534,756
UT Group Co., Ltd. (b)		7,600		271,218
Utoc Corp.		5,100		24,107
Uzabase, Inc. (b)		1,200		34,462
V Technology Co., Ltd. (e)		800		120,018
V-Cube, Inc. (b)		2,100		11,720
Valor Holdings Co., Ltd.		11,800		272,920
ValueCommerce Co., Ltd.		3,200		69,732
Vector, Inc.		4,800		113,376
VeriServe Corp.		500		22,388
VIA Holdings, Inc. (b)		1,600		10,140
Village Vanguard Co., Ltd.		2,300		21,436
VINX Corp.		1,000		12,682
Vision, Inc. (b)		1,400		62,223
Vital KSK Holdings, Inc.		14,200		160,117
Vitec Holdings Co., Ltd.		3,700		83,680
Voyage Group, Inc.		1,500		20,583
VT Holdings Co., Ltd.		24,300		107,373
Wacoal Holdings Corp.		14,500		415,123
Wacom Co., Ltd.		15,000		63,895

BHFTII-87

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Wakachiku Construction Co., Ltd.		4,600	$	66,971
Wakamoto Pharmaceutical Co., Ltd.		9,000		22,971
Wakita & Co., Ltd.		15,300		189,324
Warabeya Nichiyo Holdings Co., Ltd.		5,000		88,448
Waseda Academy Co., Ltd.		700		11,976
Watahan & Co., Ltd.		600		15,379
WATAMI Co., Ltd.		7,600		86,867
WDB Holdings Co., Ltd.		1,700		60,745
Weathernews, Inc.		2,100		65,975
West Holdings Corp.		7,200		48,602
Will Group, Inc.		2,200		20,180
WIN-Partners Co., Ltd.		2,500		28,453
WirelessGate, Inc.		1,000		5,819
Wood One Co., Ltd.		2,600		29,866
World Holdings Co., Ltd.		1,200		36,224
Wowow, Inc.		2,200		70,584
Xebio Holdings Co., Ltd.		8,700		126,875
Y.A.C. Holdings Co., Ltd.		3,900		28,282
YA-MAN, Ltd.		2,900		58,929
Yachiyo Industry Co., Ltd.		3,900		37,856
Yahagi Construction Co., Ltd.		10,900		83,267
Yaizu Suisankagaku Industry Co., Ltd.		4,400		42,987
Yakuodo Co., Ltd.		1,600		54,777
YAMABIKO Corp.		12,800		158,609
YAMADA Consulting Group Co., Ltd.		1,600		37,291
Yamagata Bank, Ltd. (The)		10,400		224,522
Yamaichi Electronics Co., Ltd.		8,200		113,418
Yamanashi Chuo Bank, Ltd. (The)		11,800		211,468
Yamashin-Filter Corp. (e)		2,500		18,988
Yamatane Corp.		3,400		63,503
Yamato Corp.		6,600		42,005
Yamato International, Inc.		6,700		29,547
Yamato Kogyo Co., Ltd.		10,500		330,744
Yamaya Corp.		1,150		30,763
Yamazawa Co., Ltd.		1,000		15,164
Yamazen Corp.		19,500		232,606
Yaoko Co., Ltd.		4,300		263,061
Yashima Denki Co., Ltd.		7,500		61,061
Yasuda Logistics Corp.		7,400		59,572
Yasunaga Corp.		1,700		30,641
Yellow Hat, Ltd.		5,800		155,063
Yodogawa Steel Works, Ltd.		7,600		187,998
Yokogawa Bridge Holdings Corp.		12,800		268,115
Yokohama Reito Co., Ltd.		16,800		136,175
Yokowo Co., Ltd.		5,200		66,519
Yomeishu Seizo Co., Ltd.		3,000		64,718
Yomiuri Land Co., Ltd.		1,300		52,061
Yondenko Corp.		1,600		39,100
Yondoshi Holdings, Inc.		4,600		96,325
Yorozu Corp.		7,900		122,117
Yoshinoya Holdings Co., Ltd.		4,900		77,718
Yossix Co., Ltd.		400		10,580
Yuasa Funashoku Co., Ltd.		1,300		41,362
Yuasa Trading Co., Ltd.		5,800		208,316
Yuken Kogyo Co., Ltd.		1,700		35,893
Yuki Gosei Kogyo Co., Ltd.		6,000		14,575
Yume No. Machi Souzou Iinkai Co., Ltd.		3,500		112,666

Security Description	Shares		Value
Japan—(Continued)
Yumeshin Holdings Co., Ltd.		10,100	$	101,068
Yurtec Corp.		12,000		100,558
Yushiro Chemical Industry Co., Ltd.		3,700		51,137
Yutaka Giken Co., Ltd.		600		13,466
Zappallas, Inc. (b)		4,900		16,905
Zenrin Co., Ltd.		10,950		339,298
ZERIA Pharmaceutical Co., Ltd.		4,700		104,006
ZIGExN Co., Ltd. (b)		8,400		62,050
Zojirushi Corp.		9,800		138,604
Zuiko Corp.		1,000		27,330
Zuken, Inc.		5,400		88,608
				170,121,828
Jersey, Channel Islands—0.1%
Centamin plc		342,133		472,935
Jordan—0.1%
Hikma Pharmaceuticals plc		12,804		308,523
Kazakhstan—0.0%
KAZ Minerals plc		42,164		301,039
Liechtenstein—0.1%
Liechtensteinische Landesbank AG		2,973		195,698
VP Bank AG		803		125,099
				320,797
Luxembourg—0.2%
APERAM S.A.		21,182		970,967
L’Occitane International S.A.		50,000		89,665
				1,060,632
Macau—0.0%
Macau Legend Development, Ltd.		359,000		65,153
Malaysia—0.0%
Nam Cheong, Ltd. (b)		321,000		3,053
Malta—0.1%
Kindred Group plc		44,574		499,324
Monaco—0.0%
Endeavour Mining Corp. (b) (e)		16,215		253,083
Netherlands—2.7%
Aalberts Industries NV		34,547		1,470,959
Accell Group (e)		11,127		216,188
AMG Advanced Metallurgical Group NV		11,371		527,149
Amsterdam Commodities NV		6,535		147,194
Arcadis NV (e)		35,066		586,621
Argenx SE (b)		2,541		192,335
ASM International NV		19,662		1,017,864
Atrium European Real Estate, Ltd. (b)		66,764		296,110
Basic-Fit NV (144A) (b)		3,540		120,421
BE Semiconductor Industries NV (e)		37,120		783,019

BHFTII-88

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Netherlands—(Continued)
Beter Bed Holding NV (e)		5,373	$	28,445
BinckBank NV		28,201		173,851
Boskalis Westminster (e)		23,702		745,967
Brack Capital Properties NV (b)		716		81,322
Brunel International NV		9,034		130,612
Corbion NV		20,382		661,970
Euronext NV (144A)		14,683		964,968
Flow Traders (144A)		9,083		266,847
ForFarmers NV		3,386		38,329
Fugro NV (b) (e)		22,630		298,589
Funcom NV (b)		17,843		39,679
Gemalto NV (b)		19,133		1,115,161
GrandVision NV (144A)		2,702		66,441
Heijmans NV (b)		11,179		161,178
Hunter Douglas NV		2,423		181,694
IMCD Group NV		8,512		661,938
Intertrust NV (144A)		9,928		183,824
KAS Bank NV		6,580		56,908
Kendrion NV		4,048		140,814
Koninklijke BAM Groep NV		112,237		431,003
Koninklijke Vopak NV		17,682		870,790
Nederland Apparatenfabriek		2,241		131,135
New World Resources plc - A Shares (a) (b) (c) (d)		11,898		7
OCI NV (b)		16,061		513,309
Ordina NV		44,115		87,993
Philips Lighting NV (144A)		6,547		169,468
PostNL NV (e)		180,576		645,738
Rhi Magnesita NV (e)		7,253		450,581
SBM Offshore NV		72,035		1,303,595
Shop Apotheke Europe NV (144A) (b)		690		34,748
SIF Holding NV		1,259		23,370
Sligro Food Group NV		10,629		454,133
SNS REAAL NV (a) (b) (c) (d)		105,329		0
Takeaway.com NV (144A) (b)		1,178		76,174
TKH Group NV		13,932		783,982
TomTom NV (b)		51,405		420,430
Van Lanschot Kempen NV		2,558		67,559
Wessanen		31,675		386,931
				18,207,343
New Zealand—0.7%
Abano Healthcare Group, Ltd.		880		4,957
Air New Zealand, Ltd.		115,845		237,233
Briscoe Group, Ltd.		13,123		31,413
Chorus, Ltd.		129,598		416,765
Ebos Group, Ltd.		22,764		338,850
Eroad, Ltd. (b)		4,808		10,706
Freightways, Ltd.		38,693		200,581
Genesis Energy, Ltd.		71,444		122,128
Gentrack Group, Ltd.		7,810		36,993
Hallenstein Glasson Holdings, Ltd.		19,012		73,604
Heartland Bank, Ltd.		72,313		82,883
Infratil, Ltd.		173,171		409,205
Investore Property, Ltd.		15,456		15,778
Kathmandu Holdings, Ltd.		24,348		53,422
Mainfreight, Ltd.		19,527		391,004

Security Description	Shares		Value
New Zealand—(Continued)
Methven, Ltd.		19,898	$	15,268
Metlifecare, Ltd.		34,148		147,131
Metro Performance Glass, Ltd.		8,816		4,849
Michael Hill International, Ltd.		82,929		53,715
New Zealand Refining Co., Ltd. (The)		27,432		46,624
NZME, Ltd.		71,247		31,939
NZX, Ltd.		83,876		61,026
Pacific Edge, Ltd. (b)		17,353		3,682
PGG Wrightson, Ltd.		58,545		23,653
Port of Tauranga, Ltd.		44,544		154,381
Pushpay Holdings, Ltd. (b)		3,934		10,613
Restaurant Brands New Zealand, Ltd.		33,397		173,119
Rubicon, Ltd. (b)		9,922		1,707
Sanford, Ltd.		314		1,661
Scales Corp., Ltd.		16,784		55,436
Skellerup Holdings, Ltd.		29,759		42,156
SKY Network Television, Ltd.		114,579		167,061
SKYCITY Entertainment Group, Ltd.		173,489		460,709
Summerset Group Holdings, Ltd.		32,970		170,651
Synlait Milk, Ltd. (b)		8,918		64,110
Tilt Renewables, Ltd.		13,980		21,687
Tourism Holdings, Ltd.		21,653		82,375
TOWER, Ltd. (b)		59,836		32,126
Trade Me Group, Ltd.		106,241		367,349
Trustpower, Ltd.		13,980		57,656
Vector, Ltd.		36,949		84,492
Warehouse Group, Ltd. (The)		39,693		54,199
Z Energy, Ltd.		8,722		41,292
				4,856,189
Norway—0.9%
ABG Sundal Collier Holding ASA		134,443		94,969
AF Gruppen ASA		1,628		26,103
Akastor ASA (b)		47,184		102,394
Aker Solutions ASA (b)		37,475		266,238
American Shipping Co. ASA (b)		19,821		75,493
Archer, Ltd. (b)		19,287		17,948
Atea ASA (b)		19,449		315,429
Austevoll Seafood ASA		22,546		310,803
Avance Gas Holding, Ltd. (144A) (b)		14,826		37,050
Axactor AB (b)		33,599		102,891
B2Holding ASA		20,790		41,380
Bonheur ASA		10,311		130,393
Borregaard ASA		23,628		242,142
BW Offshore, Ltd. (b)		33,722		267,761
DNO ASA		152,532		315,291
DOF ASA (b) (e)		47,311		42,004
Frontline, Ltd. (b) (e)		24,306		141,857
Grieg Seafood ASA		11,731		154,815
Hexagon Composites ASA		28,187		86,576
Hoegh LNG Holdings, Ltd.		13,626		75,945
IDEX Corp. (b)		53,185		49,100
Itera ASA		17,553		24,590
Kongsberg Automotive ASA (b)		176,177		196,496
Kongsberg Gruppen ASA		5,858		112,853
Kvaerner ASA (b)		60,872		112,590

BHFTII-89

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Norway—(Continued)
NEL ASA (b) (e)		221,285	$	105,227
Nordic Nanovector ASA (b)		7,828		49,926
Nordic Semiconductor ASA (b)		36,041		208,190
Norway Royal Salmon ASA		3,880		93,637
Norwegian Air Shuttle ASA (b) (e)		8,756		263,667
Norwegian Finans Holding ASA (b)		10,170		124,335
Norwegian Property ASA		23,988		31,697
Ocean Yield ASA		12,183		99,692
Odfjell Drilling, Ltd. (b)		15,318		67,753
Odfjell SE - A Shares		1,949		7,465
Olav Thon Eiendomsselskap ASA		1,135		20,834
Otello Corp. ASA (b)		21,316		46,461
Panoro Energy ASA (b)		16,444		46,264
Petroleum Geo-Services ASA (b)		73,446		330,328
PhotoCure ASA (b)		5,477		37,953
ProSafe SE (b)		16,437		60,577
Protector Forsikring ASA (b) (e)		13,480		87,781
Q-Free ASA (b)		24,256		23,780
Sbanken ASA (144A)		12,388		134,991
Scatec Solar ASA (144A)		23,944		177,099
Selvaag Bolig ASA		7,900		37,597
Sevan Marine ASA (b)		16,466		35,111
Solstad Farstad ASA (b) (e)		53,910		32,460
Spectrum ASA		8,433		63,834
Stolt-Nielsen, Ltd.		7,397		113,251
Treasure ASA		21,003		33,158
Veidekke ASA		27,432		299,480
Wilh Wilhelmsen Holding ASA - Class A		4,777		105,149
XXL ASA (144A) (e)		17,225		88,694
				6,169,502
Peru—0.0%
Hochschild Mining plc		74,658		159,174
Philippines—0.0%
Del Monte Pacific, Ltd.		77,636		9,830
Portugal—0.4%
Altri SGPS S.A.		27,747		265,871
Banco Comercial Portugues S.A. - Class R (b)		2,143,248		633,569
Banco Espirito Santo S.A. (a) (b) (c) (d)		89,078		0
CTT-Correios de Portugal S.A. (e)		34,069		133,451
Mota-Engil SGPS S.A. (b)		40,942		99,772
Navigator Co. S.A. (The)		71,289		348,876
NOS SGPS S.A.		73,113		437,868
Novabase SGPS S.A.		7,827		24,264
REN - Redes Energeticas Nacionais SGPS S.A.		122,322		344,952
Semapa-Sociedade de Investimento e Gestao		4,163		82,721
Sonae SGPS S.A.		280,308		290,417
Teixeira Duarte S.A. (b)		59,382		14,340
				2,676,101
Russia—0.0%
Evraz plc		13,430		98,996
Petropavlovsk plc (b)		192,556		15,937
				114,933

Security Description	Shares		Value
Singapore—1.1%
Abterra, Ltd. (a) (b) (c) (d)		51,720	$	1,135
Accordia Golf Trust		74,500		29,684
AEM Holdings, Ltd.		46,900		26,085
Ascendas India Trust		171,500		136,738
ASL Marine Holdings, Ltd. (b)		52,500		3,380
Baker Technology, Ltd. (b)		33,200		13,003
Banyan Tree Holdings, Ltd.		97,700		37,517
Best World International, Ltd.		80,000		85,997
Bonvests Holdings, Ltd.		18,000		16,985
Boustead Projects, Ltd.		24,607		15,476
Boustead Singapore, Ltd.		82,025		47,688
BreadTalk Group, Ltd.		54,200		40,043
Bukit Sembawang Estates, Ltd.		69,100		291,638
BW LPG, Ltd. (144A) (b)		25,142		110,056
Centurion Corp., Ltd.		38,000		12,216
China Aviation Oil Singapore Corp., Ltd.		94,800		106,054
Chip Eng Seng Corp., Ltd.		157,000		95,865
Chuan Hup Holdings, Ltd.		125,000		30,932
CITIC Envirotech, Ltd.		207,500		83,474
CNQC International Holdings, Ltd.		82,500		18,915
COSCO Shipping International Singapore Co., Ltd. (b)		272,500		82,650
Creative Technology, Ltd. (b)		16,300		74,868
CSE Global, Ltd.		197,000		71,932
CW Group Holdings, Ltd. (a) (c) (d)		106,000		3,128
Delfi, Ltd.		66,000		54,088
Dyna-Mac Holdings, Ltd. (b)		98,000		8,453
Elec & Eltek International Co., Ltd.		23,000		30,206
Ezion Holdings, Ltd. (b)		753,729		40,663
Ezra Holdings, Ltd. (a) (b) (c) (d)		1,000,703		7,599
Far East Orchard, Ltd.		74,044		71,404
First Resources, Ltd.		86,700		106,382
Food Empire Holdings, Ltd.		54,000		22,468
Fragrance Group, Ltd. (b)		752,800		78,727
Gallant Venture, Ltd. (b)		126,000		11,520
Geo Energy Resources, Ltd.		155,000		26,066
GK Goh Holdings, Ltd.		12,000		8,345
GL, Ltd.		188,000		103,053
Golden Agri-Resources, Ltd.		988,100		180,546
Golden Energy & Resources, Ltd.		69,000		12,831
GuocoLand, Ltd.		35,500		49,077
Halcyon Agri Corp., Ltd.		188,713		69,698
Hanwell Holdings, Ltd.		19,000		3,057
Haw Par Corp., Ltd.		15,900		157,108
Hi-P International, Ltd.		50,200		36,981
Hiap Hoe, Ltd.		58,000		36,912
Ho Bee Land, Ltd.		67,200		125,351
Hong Fok Corp., Ltd.		146,740		74,517
Hong Leong Asia, Ltd. (b)		41,000		16,709
Hotel Grand Central, Ltd.		25,900		26,130
Hour Glass, Ltd. (The)		129,000		62,729
Hwa Hong Corp., Ltd.		138,000		31,779
Hyflux, Ltd. (a) (b) (d)		179,500		1,795
iFAST Corp., Ltd.		25,500		22,189
IGG, Inc.		238,000		296,577
Indofood Agri Resources, Ltd.		152,000		21,005
Japfa, Ltd.		89,700		42,966
k1 Ventures, Ltd. (a) (b) (c) (d)		80,800		5,792

BHFTII-90

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Singapore—(Continued)
Kenon Holdings, Ltd.		2,312	$	39,322
Keppel Infrastructure Trust		549,659		198,862
Keppel Telecommunications & Transportation, Ltd.		44,000		59,852
Koh Brothers Group, Ltd.		97,000		17,167
KSH Holdings, Ltd.		25,700		10,994
Lian Beng Group, Ltd.		116,900		44,413
Low Keng Huat Singapore, Ltd.		122,600		48,808
Lum Chang Holdings, Ltd.		115,000		29,454
M1, Ltd.		89,500		138,073
Metro Holdings, Ltd.		141,600		114,900
Mewah International, Inc.		110,000		20,921
Midas Holdings, Ltd. (a) (b) (c) (d)		452,000		23,806
mm2 Asia, Ltd. (b)		76,600		21,569
NSL, Ltd.		15,000		12,825
Overseas Union Enterprise, Ltd.		119,200		133,322
Oxley Holdings, Ltd.		142,164		34,829
Pan-United Corp., Ltd.		53,750		11,775
Penguin International, Ltd.		64,333		15,538
Q&M Dental Group Singapore, Ltd.		41,800		15,583
QAF, Ltd.		74,167		40,667
Raffles Education Corp., Ltd. (b)		500,206		55,908
Raffles Medical Group, Ltd.		151,385		125,438
RHT Health Trust		84,400		45,716
Rickmers Maritime (a) (b) (c) (d)		110,000		0
Riverstone Holdings, Ltd.		59,300		51,152
Roxy-Pacific Holdings, Ltd.		94,325		27,203
SBS Transit, Ltd.		40,500		76,686
Sembcorp Marine, Ltd.		148,800		221,596
Sheng Siong Group, Ltd.		133,900		109,698
SHS Holdings, Ltd.		47,000		7,391
SIA Engineering Co., Ltd.		51,000		110,021
SIIC Environment Holdings, Ltd.		167,400		34,861
Sinarmas Land, Ltd.		618,500		140,146
Sing Holdings, Ltd.		82,000		24,005
Singapore Post, Ltd.		314,800		259,505
Singapore Press Holdings, Ltd.		218,200		457,954
Singapore Reinsurance Corp., Ltd.		1,000		230
Stamford Land Corp., Ltd.		278,000		102,716
StarHub, Ltd.		107,000		146,182
Sunningdale Tech, Ltd.		41,100		44,996
Swiber Holdings, Ltd. (a) (b) (c) (d)		117,749		1,757
Tuan Sing Holdings, Ltd.		169,000		48,208
UMS Holdings, Ltd. (e)		116,250		63,597
United Engineers, Ltd.		138,000		267,319
United Industrial Corp., Ltd.		13,600		29,708
United Overseas Insurance, Ltd.		4,000		18,317
UOB-Kay Hian Holdings, Ltd.		136,495		125,767
UPP Holdings, Ltd.		46,000		6,702
Vibrant Group, Ltd.		47,600		6,093
Vicom, Ltd.		2,000		8,911
Wee Hur Holdings, Ltd.		85,000		13,692
Wheelock Properties Singapore, Ltd.		66,800		103,114
Wing Tai Holdings, Ltd.		159,621		227,536
XP Power, Ltd.		4,116		158,790
Yeo Hiap Seng, Ltd.		19,712		14,566
Yongnam Holdings, Ltd. (b)		241,875		35,157
				7,481,500

Security Description	Shares		Value
South Africa—0.0%
Caledonia Mining Corp. plc		1,300	$	8,837
Petra Diamonds, Ltd. (b)		279,686		137,846
				146,683
Spain—2.6%
Acciona S.A.		7,805		704,994
Acerinox S.A.		70,013		1,000,227
Adveo Group International S.A. (b)		6,292		5,298
Alantra Partners S.A.		4,852		86,747
Almirall S.A.		20,705		414,679
Amper S.A. (b)		224,339		77,651
Applus Services S.A.		20,814		295,150
Atresmedia Corp. de Medios de Comunicacion S.A.		21,362		132,348
Azkoyen S.A.		1,608		14,369
Baron de Ley (b)		1,039		137,678
Bolsas y Mercados Espanoles SHMSF S.A.		27,936		901,097
Caja de Ahorros del Mediterraneo (a) (b) (c) (d)		14,621		0
Cellnex Telecom S.A. (144A)		33,913		888,564
Cia de Distribucion Integral Logista Holdings S.A.		9,084		233,128
Cie Automotive S.A.		17,266		537,045
Construcciones y Auxiliar de Ferrocarriles S.A.		5,880		244,744
Distribuidora Internacional de Alimentacion S.A.		184,598		428,490
Duro Felguera S.A. (b) (e)		925,200		10,900
Ebro Foods S.A.		25,801		563,464
eDreams ODIGEO S.A. (b)		14,588		63,342
Elecnor S.A.		11,262		149,775
Enagas S.A.		50,570		1,365,053
Ence Energia y Celulosa S.A		61,968		629,490
Ercros S.A.		60,314		350,910
Euskaltel S.A. (144A)		6,490		50,932
Faes Farma S.A.		131,897		557,391
Fluidra S.A.		16,366		244,731
Fomento de Construcciones y Contratas S.A. (b)		4,419		66,266
Global Dominion Access S.A. (144A) (b)		22,896		139,485
Grupo Catalana Occidente S.A.		20,412		888,717
Grupo Empresarial San Jose S.A. (b)		8,320		51,558
Grupo Ezentis S.A. (b)		78,251		65,047
Iberpapel Gestion S.A.		612		25,796
Indra Sistemas S.A. (b)		42,149		482,358
Laboratorios Farmaceuticos Rovi S.A.		3,511		64,016
Liberbank S.A. (b)		273,963		153,135
Mediaset Espana Comunicacion S.A.		49,361		359,285
Melia Hotels International S.A.		24,250		271,023
Miquel y Costas & Miquel S.A.		6,972		258,302
NH Hotel Group S.A.		69,951		510,114
Obrascon Huarte Lain S.A.		35,775		71,314
Papeles y Cartones de Europa S.A.		22,293		432,756
Pharma Mar S.A. (b)		72,263		127,544
Prim S.A.		3,013		43,728
Promotora de Informaciones S.A. - Class A (b) (e)		87,762		197,787
Prosegur Cia de Seguridad S.A.		54,905		341,030
Quabit Inmobiliaria S.A. (b)		21,835		47,715
Realia Business S.A. (b)		112,366		135,418
Sacyr S.A.		115,740		338,799
Solaria Energia y Medio Ambiente S.A. (b)		19,439		125,961
Talgo S.A. (144A) (b)		7,525		39,770

BHFTII-91

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Spain—(Continued)
Tecnicas Reunidas S.A.		11,115	$	340,458
Telepizza Group S.A. (144A)		5,237		30,990
Tubacex S.A. (b)		28,250		104,299
Tubos Reunidos S.A. (b)		21,752		8,443
Vidrala S.A.		7,271		681,485
Viscofan S.A.		14,797		1,077,496
Vocento S.A. (b)		18,128		25,394
Zardoya Otis S.A.		32,950		306,646
				17,900,332
Sweden—2.8%
Acando AB		32,705		136,823
AddLife AB		8,064		182,472
AddNode Group AB		7,307		95,282
AddTech AB - B Shares		21,786		464,002
AF AB - B Shares		19,518		450,858
Ahlsell AB (144A)		11,855		66,339
Ahlstrom-Munksjo Oyj		17,418		333,668
Alimak Group AB (144A)		8,296		117,052
Arise AB (b)		4,852		10,428
Arjo AB - B Shares		11,896		40,215
Atrium Ljungberg AB - B Shares		6,009		108,899
Attendo AB (144A)		14,212		133,634
Avanza Bank Holding AB		7,660		348,786
BE Group AB (b)		1,962		10,926
Beijer Alma AB		15,250		255,519
Beijer Electronics Group AB (b)		7,843		38,829
Beijer Ref AB		20,376		427,680
Bergman & Beving AB - B Shares		12,796		138,468
Besqab AB		1,061		15,701
Betsson AB (b)		30,653		236,068
Bilia AB - A Shares		34,008		277,139
BillerudKorsnas AB		8,804		113,657
BioGaia AB - B Shares		5,563		279,480
Biotage AB		16,658		223,414
Bjorn Borg AB (b)		9,936		24,819
Bonava AB		928		13,260
Bonava AB - B Shares		9,209		132,319
Bravida Holding AB (144A)		34,519		283,045
Bufab AB		7,973		92,869
Bulten AB		3,161		38,114
Bure Equity AB		17,448		222,995
Byggmax Group AB		18,326		74,928
Capio AB (144A)		3,843		21,920
Catena AB		5,959		133,518
Clas Ohlson AB - B Shares (e)		13,900		112,733
Cloetta AB - B Shares		92,493		285,784
Com Hem Holding AB		15,039		248,748
Coor Service Management Holding AB (144A)		2,137		17,072
Corem Property Group AB - B Shares		12,248		16,123
D Carnegie & Co. AB (b)		1,637		31,348
Dios Fastigheter AB		35,250		225,689
Dometic Group AB (144A)		15,439		135,104
Doro AB (b)		3,391		15,548
Duni AB		14,094		186,469
Dustin Group AB (144A)		17,685		167,009

Security Description	Shares		Value
Sweden—(Continued)
Eastnine AB		7,088	$	73,453
Elanders AB - B Shares		1,453		14,844
Enea AB (b)		3,225		39,552
eWork Group AB		2,864		33,380
Fabege AB		11,013		152,523
Fagerhult AB		13,852		126,244
FastPartner AB		5,698		37,658
Fingerprint Cards AB - Class B (b)		28,890		31,748
Granges AB		19,836		236,186
Gunnebo AB		12,816		38,286
Haldex AB		16,480		161,499
Hemfosa Fastigheter AB		35,677		492,444
HIQ International AB (b)		14,111		92,484
HMS Networks AB		3,448		61,686
Hoist Finance AB (144A)		3,141		26,365
Holmen AB - B Shares		22,293		580,158
Humana AB		5,221		33,458
Indutrade AB		14,375		388,929
Inwido AB		3,779		28,400
ITAB Shop Concept AB - Class B		1,944		5,342
JM AB		23,748		465,257
KappAhl AB		29,980		114,217
Karo Pharma AB		47,177		167,659
Klovern AB - B Shares (e)		131,906		173,487
Know It AB		9,489		201,250
Kungsleden AB		56,456		415,130
Lagercrantz Group AB - B Shares		19,997		197,999
Lindab International AB		21,316		159,518
Loomis AB - Class B		17,138		551,862
Medivir AB - B Shares (b)		10,470		57,120
Mekonomen AB		9,225		131,199
Modern Times Group MTG AB - B Shares		4,249		155,868
Momentum Group AB - Class B		12,796		162,056
MQ Holding AB		9,112		15,871
Mycronic AB (e)		25,742		269,510
NCC AB - B Shares		5,876		104,084
Nederman Holding AB		3,684		53,698
Net Insight AB - Class B (b)		74,697		25,887
NetEnt AB (b)		45,991		186,457
New Wave Group AB - B Shares		15,773		116,607
Nobia AB		40,224		284,542
Nobina AB (144A)		25,543		182,781
Nolato AB - B Shares		9,452		582,727
NP3 Fastigheter AB		9,288		66,419
OEM International AB - B Shares		498		11,584
Opus Group AB		92,554		66,651
Orexo AB (b)		2,005		14,362
Pandox AB		2,349		42,058
Peab AB		52,083		476,704
Platzer Fastigheter Holding AB - Class B		7,122		49,923
Pricer AB - B Shares		32,212		44,153
Proact IT Group AB		2,832		55,761
Qliro Group AB (b)		5,924		8,537
Ratos AB - B Shares		45,770		166,852
RaySearch Laboratories AB (b)		8,231		113,245
Recipharm AB - B Shares (b)		10,157		162,236
Rottneros AB		26,936		34,021

BHFTII-92

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Sweden—(Continued)
Sagax AB - Class B		14,540	$	203,545
SAS AB (b)		55,815		134,828
Scandi Standard AB		13,292		85,403
Scandic Hotels Group AB (144A)		9,381		105,288
Sectra AB - B Shares (b)		5,545		148,680
Semcon AB		5,540		33,462
Sensys Gatso Group AB (b)		269,456		61,701
SkiStar AB		9,076		226,348
Sweco AB - B Shares		14,540		383,147
Systemair AB		4,286		57,075
Thule Group AB (144A)		23,517		568,592
Troax Group AB		2,074		67,091
Victoria Park AB - B Shares		2,670		10,907
Vitrolife AB		19,145		281,021
Wallenstam AB - B Shares		45,243		428,495
Wihlborgs Fastigheter AB		53,876		647,932
				19,170,199
Switzerland—4.8%
Allreal Holding AG (b)		3,866		620,965
Alpiq Holding AG (b)		156		12,555
ALSO Holding AG (b)		645		80,761
APG SGA S.A.		468		166,679
Arbonia AG (b)		10,560		143,209
Aryzta AG (b) (e)		18,845		179,194
Ascom Holding AG		12,379		251,514
Autoneum Holding AG		1,187		239,246
Bachem Holding AG - Class B (e)		863		110,358
Banque Cantonale de Geneve		750		148,572
Banque Cantonale Vaudoise		538		399,069
Belimo Holding AG		131		626,299
Bell Food Group AG		880		279,606
Bellevue Group AG (b)		3,322		85,637
Berner Kantonalbank AG		1,950		433,888
BFW Liegenschaften AG (b)		528		23,111
BKW AG		4,798		303,995
Bobst Group S.A.		3,743		292,618
Bossard Holding AG - Class A		2,139		424,534
Bucher Industries AG		2,604		835,587
Burckhardt Compression Holding AG		919		319,422
Burkhalter Holding AG		1,291		101,921
Calida Holding AG (b)		2,002		69,459
Carlo Gavazzi Holding AG		48		14,179
Cembra Money Bank AG		7,813		706,159
Cham Group AG (b)		113		52,074
Cicor Technologies, Ltd. (b)		644		32,482
Cie Financiere Tradition S.A.		579		61,952
Coltene Holding AG		1,132		129,189
Conzzeta AG		325		353,673
Daetwyler Holding AG		2,353		447,761
DKSH Holding AG		4,251		289,156
dormakaba Holding AG (b)		840		632,329
EDAG Engineering Group AG (b)		1,784		35,559
EFG International AG (b)		20,307		154,903
Emmi AG		773		576,598
Energiedienst Holding AG		3,017		93,443

Security Description	Shares		Value
Switzerland—(Continued)
Evolva Holding S.A. (b) (e)		36,339	$	10,627
Feintool International Holding AG (b)		588		67,105
Fenix Outdoor International AG		975		111,154
Ferrexpo plc		57,307		149,286
Flughafen Zurich AG		3,210		648,899
Forbo Holding AG		313		501,452
GAM Holding AG (b)		68,723		487,420
Georg Fischer AG		1,225		1,383,976
Gurit Holding AG		164		137,969
Helvetia Holding AG		2,402		1,462,276
Hiag Immobilien Holding AG (b)		1,150		146,523
Highlight Communications AG (b) (e)		7,829		47,089
HOCHDORF Holding AG (b)		174		31,265
Huber & Suhner AG		5,559		415,486
Implenia AG		6,413		406,114
Inficon Holding AG (b)		568		290,243
Interroll Holding AG		226		440,750
Intershop Holding AG		416		209,396
IWG plc		206,169		652,007
Jungfraubahn Holding AG		85		12,381
Kardex AG (b)		2,247		381,415
Komax Holding AG		1,292		416,922
Kudelski S.A. (b) (e)		13,221		112,972
LEM Holding S.A.		246		289,579
Luzerner Kantonalbank AG		1,452		735,743
MCH Group AG (b)		831		22,934
Metall Zug AG - B Shares		66		216,543
Mikron Holding AG (b)		474		4,701
Mobilezone Holding AG		11,899		140,791
Mobimo Holding AG		2,761		652,479
OC Oerlikon Corp. AG (b)		57,156		782,815
Orascom Development Holding AG (b)		5,250		63,922
Orell Fuessli Holding AG		428		39,223
Oriflame Holding AG (b)		4,601		117,707
Orior AG		2,240		209,979
Panalpina Welttransport Holding AG		2,930		426,510
Phoenix Mecano AG		274		181,738
Plazza AG - Class A		292		66,933
PSP Swiss Property AG		9,856		954,156
Resurs Holding AB (144A)		17,270		129,256
Rieter Holding AG (e)		1,344		206,342
Romande Energie Holding S.A.		111		139,114
Schaffner Holding AG (b)		238		83,154
Schmolz & Bickenbach AG (b)		161,565		127,419
Schweiter Technologies AG		381		460,875
SFS Group AG (b)		3,411		395,164
Siegfried Holding AG (b)		1,571		730,746
St. Galler Kantonalbank AG		1,123		567,857
Sulzer AG		4,412		529,511
Sunrise Communications Group AG (144A) (b)		9,217		833,792
Swiss Prime Site AG (b)		1,578		134,452
Swissquote Group Holding S.A.		3,968		288,267
Tamedia AG		904		110,076
Tecan Group AG		1,978		467,723
U-Blox Holding AG (b) (e)		2,262		323,731
Valiant Holding AG		5,102		577,800
Valora Holding AG (b)		1,467		393,543

BHFTII-93

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Switzerland—(Continued)
VAT Group AG (144A) (b)		5,378	$	602,740
Vaudoise Assurances Holding S.A.		423		222,408
Vetropack Holding AG		88		223,084
Von Roll Holding AG (b)		7,038		9,215
Vontobel Holding AG		9,780		690,241
VZ Holding AG		587		174,640
Walliser Kantonalbank		1,160		125,877
Walter Meier AG (e)		872		16,794
Warteck Invest AG (b)		25		49,160
Ypsomed Holding AG (b) (e)		1,361		194,013
Zehnder Group AG		3,984		173,739
Zug Estates Holding AG - B Shares		83		143,825
Zuger Kantonalbank AG		59		349,890
				32,630,584
United Arab Emirates—0.0%
Lamprell plc (b)		100,553		82,309
United Kingdom—14.7%
4imprint Group plc		7,338		190,331
888 Holdings plc		86,183		223,748
A.G. Barr plc		36,511		342,552
AA plc		196,019		247,518
Acacia Mining plc (b)		56,954		98,491
Afren plc (a) (b) (c) (d)		251,096		0
Aggreko plc		42,643		484,376
Air Partner plc		4,960		7,093
Anglo Pacific Group plc		35,633		68,046
Anglo-Eastern Plantations plc		4,252		31,605
Arrow Global Group plc		27,741		83,523
Ascential plc		3,642		19,795
Ashmore Group plc		93,849		444,637
Auto Trader Group plc (144A)		228,841		1,332,047
AVEVA Group plc		11,390		428,888
Avon Rubber plc		10,973		184,484
B&M European Value Retail S.A.		85,970		433,398
Babcock International Group plc		42,059		396,318
Balfour Beatty plc		232,244		829,084
BBA Aviation plc		400,738		1,568,035
Beazley plc		166,128		1,235,083
Bellway plc		36,783		1,443,326
Bloomsbury Publishing plc		25,349		73,441
Bodycote plc		84,979		1,003,400
Bovis Homes Group plc		60,601		846,461
Braemar Shipping Services plc		7,120		24,578
Brewin Dolphin Holdings plc		101,304		452,671
Britvic plc		69,759		710,899
BTG plc (b)		60,182		432,285
Cairn Energy plc (b)		234,247		709,562
Cambian Group plc		11,987		30,545
Capita plc		25,195		46,877
Capital & Counties Properties plc		182,052		631,442
Carclo plc (b)		16,990		20,379
Card Factory plc		66,983		172,803
Carr’s Group plc		15,540		31,090
Castings plc		2,870		14,752

Security Description	Shares		Value
United Kingdom—(Continued)
Centaur Media plc		92,526	$	46,547
Chemring Group plc		123,138		345,256
Chesnara plc		58,648		271,366
Cineworld Group plc		352,995		1,450,775
City of London Investment Group plc		4,786		25,259
Clarkson plc		4,757		167,406
Close Brothers Group plc		58,401		1,202,771
CLS Holdings plc		51,405		147,445
CMC Markets plc (144A)		42,124		76,300
Cobham plc (b)		641,178		975,644
Communisis plc		57,478		39,164
Computacenter plc		29,696		490,005
Concentric AB		16,079		258,369
Connect Group plc		80,499		34,052
Consort Medical plc		22,450		348,259
Costain Group plc		28,320		153,830
Countryside Properties plc (144A)		60,521		272,885
Countrywide plc (b)		6,402		1,000
Cranswick plc		19,204		847,017
Crest Nicholson Holdings plc		41,560		189,572
CYBG plc (e)		37,563		158,512
Daejan Holdings plc		1,744		133,158
Daily Mail & General Trust plc - Class A		91,328		835,642
Dairy Crest Group plc		51,743		308,328
De La Rue plc		32,774		205,907
Debenhams plc (e)		426,182		54,317
Dechra Pharmaceuticals plc		3,289		93,289
Devro plc		61,396		164,859
DFS Furniture plc		9,462		26,625
Dialight plc (b)		3,360		20,845
Dialog Semiconductor plc (b)		22,851		499,184
Dignity plc		16,438		218,206
Diploma plc		36,236		668,596
DiscoverIE Group plc		17,866		88,375
Dixons Carphone plc		107,658		237,437
Domino’s Pizza Group plc		156,562		569,759
Drax Group plc		137,597		695,585
Dunelm Group plc		27,346		194,839
EI Group plc (b)		245,184		529,087
Electrocomponents plc		144,009		1,347,105
Elementis plc		161,864		566,101
EnQuest plc (b)		582,443		312,350
Equiniti Group plc (144A)		9,267		32,130
Essentra plc		78,989		416,528
esure Group plc		25,635		92,748
Euromoney Institutional Investor plc		14,736		258,529
FDM Group Holdings plc		7,407		93,655
Findel plc (b)		17,439		63,608
Firstgroup plc (b)		412,049		488,964
FLEX LNG, Ltd. (b)		21,214		38,574
Forterra plc (144A)		3,497		11,894
Foxtons Group plc		60,218		42,119
Fuller Smith & Turner plc - Class A		7,667		94,764
Galliford Try plc		49,848		656,361
Games Workshop Group plc		10,624		523,665
Gem Diamonds, Ltd. (b)		35,552		55,120
Genus plc		10,090		313,931

BHFTII-94

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
Georgia Capital plc (b)		7,105	$	103,282
Go-Ahead Group plc		12,021		251,775
Gocompare.Com Group plc		86,389		109,328
Goodwin plc		188		6,862
Grafton Group plc		88,160		869,716
Grainger plc		101,157		395,385
Greene King plc		121,167		774,127
Greggs plc		34,690		476,774
Gulf Keystone Petroleum, Ltd. (b)		37,844		142,150
Gym Group plc (The) (144A)		31,272		127,743
Halfords Group plc		89,687		369,727
Halma plc		5,404		101,700
Hastings Group Holdings plc (144A)		2,998		10,130
Hays plc		446,829		1,186,707
Headlam Group plc		43,642		270,271
Helical plc		47,664		204,984
Henry Boot plc		8,542		32,079
Hill & Smith Holdings plc		29,060		373,210
Hilton Food Group plc		5,520		69,347
Hiscox, Ltd.		74,782		1,602,537
Hollywood Bowl Group plc		9,509		27,761
HomeServe plc		83,112		1,109,702
Howden Joinery Group plc		199,363		1,218,381
Hunting plc (b)		52,837		536,915
Huntsworth plc		54,778		82,079
Ibstock plc (144A)		70,480		216,149
IG Group Holdings plc		127,101		1,049,973
IMI plc		60,821		868,419
Inchcape plc		161,511		1,407,383
Indivior plc (b)		173,858		417,250
Inmarsat plc		94,184		612,781
Intermediate Capital Group plc		62,293		883,895
International Personal Finance plc		79,366		232,835
Interserve plc (b) (e)		69,361		52,860
IP Group plc (b)		139,902		235,470
ITE Group plc		227,697		213,656
J.D. Wetherspoon plc		28,929		492,315
Jackpotjoy plc (b)		16,328		161,531
James Fisher & Sons plc		20,005		495,584
Jardine Lloyd Thompson Group plc		42,639		1,053,741
JD Sports Fashion plc		111,249		665,381
John Laing Group plc (144A)		21,966		89,436
John Menzies plc		26,664		190,292
John Wood Group plc		146,459		1,472,904
Jupiter Fund Management plc		117,655		620,919
Just Group plc		10,076		11,596
Kainos Group plc		4,558		24,867
Kcom Group plc		172,562		210,986
Keller Group plc		25,571		338,623
Kier Group plc		30,426		358,841
Lancashire Holdings, Ltd.		67,933		538,161
Lonmin plc (b)		12,029		6,886
Lookers plc		131,372		181,814
Low & Bonar plc		37,972		19,399
LSL Property Services plc		17,679		61,086
Man Group plc		598,620		1,374,278
Marshalls plc		63,336		342,070
United Kingdom—(Continued)
Marston’s plc		258,409		332,386
McBride plc		63,975		118,192
McColl’s Retail Group plc		12,767		24,124
Mears Group plc		41,542		201,148
Meggitt plc		179,350		1,323,122
Merlin Entertainments plc (144A)		70,273		366,418
Metro Bank plc (b)		2,816		108,977
Millennium & Copthorne Hotels plc		54,328		368,932
Mitchells & Butlers plc		70,418		242,186
Mitie Group plc		119,662		228,700
MJ Gleeson plc		7,143		69,102
Moneysupermarket.com Group plc		163,514		594,028
Morgan Advanced Materials plc		105,477		456,181
Morgan Sindall Group plc		17,569		301,331
Mothercare plc (b) (e)		102,238		27,199
Motorpoint group plc		9,475		26,058
N Brown Group plc		73,957		131,670
National Express Group plc		203,273		1,035,584
NCC Group plc		76,130		198,459
NEX Group plc		114,424		1,482,060
Norcros plc		4,097		11,315
Northgate plc		48,315		261,840
Ocado Group plc (b)		115,812		1,356,189
On the Beach Group plc (144A)		17,085		110,206
OneSavings Bank plc		32,300		170,890
Ophir Energy plc (b)		165,965		82,043
Oxford Instruments plc		13,946		180,147
Pagegroup plc		105,272		783,934
Paragon Banking Group plc		72,439		451,632
PayPoint plc		19,490		235,614
Pendragon plc		345,188		122,346
Pennon Group plc		139,688		1,297,580
Petrofac, Ltd.		59,210		499,905
Phoenix Group Holdings		140,310		1,235,442
Photo-Me International plc		65,132		105,402
Playtech plc		58,243		368,723
Polypipe Group plc		42,684		198,020
Porvair plc		4,494		28,759
Premier Foods plc (b) (e)		334,879		184,633
Premier Oil plc (b)		245,706		441,034
Provident Financial plc (b)		6,235		49,053
PZ Cussons plc		102,110		311,055
QinetiQ Group plc		183,469		683,884
Quilter plc (144A)		29,252		51,168
Rank Group plc		29,633		65,664
Rathbone Brothers plc		14,144		442,314
REA Holdings plc (b)		1,120		4,350
Redrow plc		98,104		745,167
Renewi plc		221,260		164,310
Renishaw plc		12,189		753,192
Renold plc (b)		64,766		33,638
Restaurant Group plc (The)		62,168		241,329
Revolution Bars Group plc		5,460		9,037
Ricardo plc		13,452		148,236
Rightmove plc		78,501		481,905
River & Mercantile Group plc		112		455
RM plc		43,283		115,094

BHFTII-95

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
Robert Walters plc		14,599	$	129,355
Rotork plc		262,065		1,127,977
RPC Group plc		140,988		1,459,540
RPS Group plc		100,537		288,116
S&U plc		343		11,645
Saga plc		79,549		135,614
Savills plc		62,765		638,892
SDL plc		33,826		210,291
Secure Trust Bank plc		458		10,103
Senior plc		166,890		678,582
Serco Group plc (b)		11,016		14,041
Severfield plc		100,890		98,610
SIG plc		252,797		417,756
Sirius Minerals plc (b)		206,237		75,097
Soco International plc		50,968		57,400
Softcat plc		30,909		319,976
Spectris plc		29,944		925,261
Speedy Hire plc		205,988		173,406
Spirax-Sarco Engineering plc		4,455		423,695
Spire Healthcare Group plc (144A)		6,876		12,764
Spirent Communications plc		217,958		383,541
Sportech plc (b)		20,264		16,757
Sports Direct International plc (b)		32,908		146,182
SSP Group plc		115,594		1,090,494
St. Ives plc		58,134		77,992
St. Modwen Properties plc		86,555		428,704
Stagecoach Group plc		127,734		260,301
Stallergenes Greer plc (b)		569		20,283
SThree plc		33,106		162,690
Stobart Group, Ltd.		59,107		191,232
Stock Spirits Group plc		15,585		40,011
STV Group plc		2,636		13,374
Superdry plc		18,185		257,241
Synthomer plc		88,503		623,974
TalkTalk Telecom Group plc (e)		151,305		243,248
Tate & Lyle plc		153,810		1,368,194
Ted Baker plc		8,726		262,891
Telecom Plus plc		20,692		281,024
Thomas Cook Group plc		438,591		330,978
Topps Tiles plc		61,961		50,806
TP ICAP plc		203,445		708,490
Travis Perkins plc		39,968		554,260
Trifast plc		15,629		46,630
Trinity Mirror plc		157,693		138,121
TT electronics plc		79,682		270,031
U & I Group plc		54,856		162,672
Ultra Electronics Holdings plc		27,882		576,535
Urban & Civic plc		3,640		14,423
Vectura Group plc (b)		245,376		255,019
Vesuvius plc		95,731		804,420
Victrex plc		29,970		1,303,713
Virgin Money Holdings UK plc		10,680		53,349
Vitec Group plc (The)		10,351		188,708
Volex plc (b)		20,438		22,472
Vp plc		3,307		47,091
Weir Group plc (The)		247		5,675
WH Smith plc		35,182		945,095
United Kingdom—(Continued)
William Hill plc		315,264		1,035,863
Wincanton plc		37,122		107,455
Xaar plc		18,088		38,649
				99,899,305
United States—0.3%
Alacer Gold Corp. (b)		102,778		159,142
Argonaut Gold, Inc. (b)		57,325		63,465
Energy Fuels, Inc. (b)		19,715		64,412
Golden Star Resources, Ltd. (b)		140,963		103,677
HJ Capital International Holdings Co., Ltd. (b)		520,000		4,909
Mitel Networks Corp. (b)		25,492		280,646
REC Silicon ASA (b) (e)		643,607		49,960
Reliance Worldwide Corp., Ltd.		73,999		276,535
Sims Metal Management, Ltd.		81,887		745,322
Tahoe Resources, Inc. (b) (e)		78,950		218,211
YTO Express Holdings, Ltd.		18,000		5,942
				1,972,221
Total Common Stocks (Cost $551,265,591)				672,299,117
Preferred Stocks—0.2%
Germany—0.2%
Biotest AG ,		3,558		98,927
Draegerwerk AG & Co. KGaA ,		1,708		108,290
FUCHS Petrolub SE ,		912		50,938
Jungheinrich AG ,		13,710		521,746
Sartorius AG ,		447		72,548
Sixt SE ,		3,916		311,902
Sto SE & Co. KGaA ,		190		20,297
Villeroy & Boch AG ,		505		9,346
Total Preferred Stocks (Cost $923,139)				1,193,994
Rights—0.0%
Australia—0.0%
Centrebet International, Ltd. (Litigation Units) (b) (c)		9,600		0
Austria—0.0%
Intercell AG, Expires 05/16/13 (a) (b) (c) (d)		24,163		0
France—0.0%
GL Events, Expires 10/08/18 (b)		3,903		1,813
Hong Kong—0.0%
Fortune Oil CVR (a) (b) (d)		575,627		0
Japan—0.0%
SAMTY Co., Ltd., Expires 11/19/18 (b) (c)		2,600		11,796

BHFTII-96

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Rights—(Continued)

Security Description	Shares/ Principal Amount*		Value
Singapore—0.0%
Hong Leong Asia, Ltd., Expires 10/19/18 (b) (c)		41,000	$	600
Sweden—0.0%
Mekonomen AB, Expires 10/18/18 (b)		36,900		28,113
United Kingdom—0.0%
Ladbrokes Coral Group		312,983		44,180
Total Rights (Cost $34,364)				86,502
Warrant—0.0%
Canada—0.0%
Tervita Corp., Expires 07/19/20 (b) (e)		733		142
Israel—0.0%
Space Communication, Ltd., Expires 10/23/18 (b)		1		0
Singapore—0.0%
Ezion Holdings, Ltd., Expires 04/16/23 (a) (b) (c) (d)		309,737		0
Total Warrants (Cost $2)				142
Short-Term Investment—0.2%
Repurchase Agreement—0.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $1,370,746; collateralized by U.S. Treasury Note at 2.375%, maturing 08/15/24, with a market value of $1,401,124.		1,370,631		1,370,631
Total Short-Term Investments (Cost $1,370,631)				1,370,631
Securities Lending Reinvestments (f)—3.2%
Certificates of Deposit—0.7%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (g)		500,000		499,991
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (g)		500,000		500,477
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (g)		500,000		499,899
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (g)		500,000		500,020
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		1,000,000		1,000,002
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (g)		500,000		499,983
Wells Fargo Bank N.A. 2.475%, 3M LIBOR + 0.140%, 10/26/18 (g)		500,000		500,083
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (g)		500,000		500,266
				4,500,721

Security Description	Principal Amount*		Value
Commercial Paper—0.1%
Starbird Funding Corp. 2.280%, 11/08/18		497,150	$	498,723
Repurchase Agreements—2.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $1,010,506; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $1,054,286.		1,000,000		1,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $500,093; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $510,000.		500,000		500,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $300,056; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $306,000.		300,000		300,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $500,093; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $510,000.		500,000		500,000
Deutsche Bank AG, London Repurchase Agreement dated 08/24/18 at 2.560%, due on 10/01/18 with a maturity value of $1,704,594; collateralized by various Common Stock with an aggregate market value of $1,892,648.		1,700,000		1,700,000
Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $305,653; collateralized by various Common Stock with an aggregate market value of $333,997.		300,000		300,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $301,190; collateralized by various Common Stock with an aggregate market value of $333,374.		300,000		300,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,136,924; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,158,566.		1,136,715		1,136,715
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $318,043; collateralized by various Common Stock with an aggregate market value of $330,000.		300,000		300,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $1,039,062; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000

BHFTII-97

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $2,000,961; collateralized by various Common Stock with an aggregate market value of $2,200,429.		2,000,000	$	2,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $509,913; collateralized by various Common Stock with an aggregate market value of $556,328.		500,000		500,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $506,468; collateralized by various Common Stock with an aggregate market value of $556,328.		500,000		500,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $502,568; collateralized by various Common Stock with an aggregate market value of $556,372.		500,000		500,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $607,970; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $666,389.		600,000		600,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $809,959; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519.		800,000		800,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $810,215; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519.		800,000		800,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $809,599; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519.		800,000		800,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $301,697; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000		300,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $605,772; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $666,389.		600,000		600,000
				14,436,715

Security Description	Principal Amount*		Value
Time Deposits—0.3%
DZ Bank AG 2.150%, 10/01/18		1,000,000	$	1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
				2,000,000
Total Securities Lending Reinvestments (Cost $21,435,513)				21,436,159
Total Investments—102.7% (Cost $575,029,240)				696,386,545
Other assets and liabilities (net)—(2.7)%				(18,267,835	)
Net Assets—100.0%			$	678,118,710

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent 0.1% of net assets.
(b)	Non-income producing security.
(c)	Illiquid security. As of September 30, 2018, these securities represent 0.0% of net assets.
(d)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $20,252,915 and the collateral received consisted of cash in the amount of $21,351,831. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(f)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(g)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $13,616,279 which is 2.0% of net assets.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate

Ten Largest Industries as of September 30, 2018 (Unaudited)	% of Net Assets
Machinery		6.8
Real Estate Management & Development		4.6
Metals & Mining		4.6
Banks		4.1
Capital Markets		3.6
Construction & Engineering		3.4
Food Products		3.4
Chemicals		3.3
Oil, Gas & Consumable Fuels		3.3
Hotels, Restaurants & Leisure		3.2

BHFTII-98

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	503,668	$	45,431,196	$	13,937	$	45,948,801
Austria		—		8,795,017		0		8,795,017
Belgium		1,855,110		8,995,943		—		10,851,053
Canada		57,935,743		473,465		805		58,410,013
China		113,780		1,224,719		—		1,338,499
Colombia		43,471		—		—		43,471
Denmark		—		15,529,119		—		15,529,119
Finland		—		18,148,660		—		18,148,660
France		431,210		27,264,712		—		27,695,922
Georgia		—		158,481		—		158,481
Germany		—		40,998,689		—		40,998,689
Ghana		—		1,567,639		—		1,567,639
Greenland		—		1,578		—		1,578
Guernsey, Channel Islands		—		36,335		—		36,335
Hong Kong		724,798		17,140,826		55,987		17,921,611
Ireland		—		3,030,877		—		3,030,877
Isle of Man		—		1,921		—		1,921
Israel		49,873		7,032,792		—		7,082,665
Italy		—		29,856,194		0		29,856,194
Japan		—		169,228,102		893,726		170,121,828
Jersey, Channel Islands		—		472,935		—		472,935
Jordan		—		308,523		—		308,523
Kazakhstan		—		301,039		—		301,039
Liechtenstein		—		320,797		—		320,797
Luxembourg		—		1,060,632		—		1,060,632
Macau		—		65,153		—		65,153
Malaysia		3,053		—		—		3,053
Malta		—		499,324		—		499,324
Monaco		253,083		—		—		253,083
Netherlands		—		18,207,336		7		18,207,343
New Zealand		—		4,856,189		—		4,856,189
Norway		141,857		6,027,645		—		6,169,502
Peru		—		159,174		—		159,174
Philippines		—		9,830		—		9,830
Portugal		—		2,676,101		0		2,676,101
Russia		—		114,933		—		114,933
Singapore		96,745		7,339,743		45,012		7,481,500
South Africa		8,837		137,846		—		146,683
Spain		—		17,900,332		0		17,900,332
Sweden		—		19,170,199		—		19,170,199
Switzerland		—		32,630,584		—		32,630,584

BHFTII-99

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
United Arab Emirates	$	—	$	82,309		$	—	$	82,309
United Kingdom		4,350		99,894,955			—		99,899,305
United States		889,553		1,082,668			—		1,972,221
Total Common Stocks		63,055,131		608,234,512			1,009,474		672,299,117
Total Preferred Stocks*		—		1,193,994			—		1,193,994
Rights
Australia		—		0			—		0
Austria		—		—			0		0
France		1,813		—			—		1,813
Hong Kong		—		—			0		0
Japan		—		11,796			—		11,796
Singapore		600		—			—		600
Sweden		28,113		—			—		28,113
United Kingdom		—		44,180			—		44,180
Total Rights		30,526		55,976			0		86,502
Warrant
Canada		142		—			—		142
Israel		—		0			—		0
Singapore		—		—			0		0
Total Warrants		142		0			0		142
Total Short-Term Investment*		—		1,370,631			—		1,370,631
Total Securities Lending Reinvestments*		—		21,436,159			—		21,436,159
Total Investments	$	63,085,799	$	632,291,272		$	1,009,474	$	696,386,545
Collateral for Securities Loaned (Liability)	$	—	$	(21,351,831	)	$	—	$	(21,351,831	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2018 is not presented.

Transfers from Level 2 to Level 1 in the amount of $1,300,263 were due to the discontinuation of a systematic fair valuation model factor. Transfers from Level 1 to Level 2 in the amount of $966,866 were due to the application of a systematic fair valuation model factor.

Transfers from Level 3 to Level 2 in the amount of $224,057 were due to the resumption of trading activity which resulted in the availability of significant observable inputs. Transfers from Level 1 and Level 2 to Level 3 in the amount of $1,087,213 were due to trading halts on the securities’ respective exchanges which resulted in the lack of observable inputs.

BHFTII-100

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—61.1% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.9%
Boeing Co. (The)		35,779	$	13,306,210
General Dynamics Corp.		33,452		6,848,294
Harris Corp.		26,458		4,476,958
Lockheed Martin Corp.		32,350		11,191,806
Moog, Inc. - Class A		22,396		1,925,384
				37,748,652
Air Freight & Logistics—0.1%
FedEx Corp.		3,468		835,060
Airlines—0.2%
JetBlue Airways Corp. (a) (b)		113,899		2,205,085
Spirit Airlines, Inc. (a) (b)		12,089		567,820
				2,772,905
Banks—1.9%
Bank of America Corp.		771,903		22,740,262
Zions Bancorp		46,117		2,312,768
				25,053,030
Beverages—1.1%
Coca-Cola Co. (The)		222,423		10,273,718
Monster Beverage Corp. (a)		58,352		3,400,755
				13,674,473
Biotechnology—1.1%
Aduro Biotech, Inc. (a)		35,106		258,029
Alnylam Pharmaceuticals, Inc. (a) (b)		6,774		592,860
Aptinyx, Inc. (a) (b)		21,596		625,420
Arcus Biosciences, Inc. (a) (b)		11,888		165,719
Audentes Therapeutics, Inc. (a)		9,048		358,210
Biogen, Inc. (a)		2,841		1,003,754
Biohaven Pharmaceutical Holding Co., Ltd. (a)		25,856		970,893
Bluebird Bio, Inc. (a) (b)		4,382		639,772
Calithera Biosciences, Inc. (a)		14,741		77,390
Celgene Corp. (a)		2,831		253,346
Coherus Biosciences, Inc. (a)		38,405		633,683
Five Prime Therapeutics, Inc. (a) (b)		5,670		78,926
Forty Seven, Inc. (a)		25,145		375,163
G1 Therapeutics, Inc. (a) (b)		9,009		471,081
Global Blood Therapeutics, Inc. (a) (b)		9,639		366,282
GlycoMimetics, Inc. (a)		40,306		580,406
Heron Therapeutics, Inc. (a)		7,966		252,124
Incyte Corp. (a)		6,954		480,382
Ironwood Pharmaceuticals, Inc. (a)		35,699		659,004
Jounce Therapeutics, Inc. (a)		8,043		52,280
Karyopharm Therapeutics, Inc. (a)		29,147		496,373
Loxo Oncology, Inc. (a)		5,079		867,646
Momenta Pharmaceuticals, Inc. (a)		27,582		725,407
Neon Therapeutics, Inc. (a) (b)		6,879		58,747
Ra Pharmaceuticals, Inc. (a)		20,912		378,298
Radius Health, Inc. (a)		12,031		214,152
Regeneron Pharmaceuticals, Inc. (a)		893		360,808
Rigel Pharmaceuticals, Inc. (a)		41,463		133,096
Seattle Genetics, Inc. (a)		16,178		1,247,647

Security Description	Shares		Value
Biotechnology—(Continued)
Spark Therapeutics, Inc. (a) (b)		4,000	$	218,200
Syndax Pharmaceuticals, Inc. (a) (b)		26,685		215,615
TESARO, Inc. (a) (b)		6,896		269,013
Trevena, Inc. (a) (b)		63,243		134,075
				14,213,801
Capital Markets—1.6%
Blucora, Inc. (a)		116,098		4,672,944
Cohen & Steers, Inc. (b)		45,536		1,849,217
Northern Trust Corp. (b)		44,604		4,555,407
Raymond James Financial, Inc. (b)		53,375		4,913,169
TD Ameritrade Holding Corp.		94,518		4,993,386
				20,984,123
Chemicals—1.3%
Cabot Corp.		24,933		1,563,798
Celanese Corp.		23,647		2,695,758
DowDuPont, Inc.		62,103		3,993,844
FMC Corp.		17,563		1,531,142
PPG Industries, Inc.		32,483		3,544,870
Praxair, Inc.		16,264		2,614,113
Westlake Chemical Corp. (b)		10,795		897,172
				16,840,697
Construction & Engineering—0.0%
Jacobs Engineering Group, Inc.		7,241		553,937
Construction Materials—0.1%
Martin Marietta Materials, Inc. (b)		828		150,654
Vulcan Materials Co.		5,584		620,941
				771,595
Consumer Finance—0.7%
American Express Co.		38,986		4,151,619
Capital One Financial Corp.		30,258		2,872,392
OneMain Holdings, Inc. (a)		70,300		2,362,783
				9,386,794
Containers & Packaging—0.5%
Ardagh Group S.A.		46,000		767,740
Ball Corp. (b)		83,602		3,677,652
International Paper Co.		52,334		2,572,216
				7,017,608
Diversified Financial Services—0.2%
Voya Financial, Inc.		48,852		2,426,479
Diversified Telecommunication Services—1.0%
Verizon Communications, Inc.		238,743		12,746,489
Electric Utilities—1.5%
Avangrid, Inc.		41,077		1,968,821
Edison International		78,780		5,331,830
Exelon Corp.		85,929		3,751,660

BHFTII-101

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electric Utilities—(Continued)
NextEra Energy, Inc.		34,702	$	5,816,055
PG&E Corp. (a)		47,899		2,203,833
				19,072,199
Electrical Equipment—0.3%
AMETEK, Inc.		20,710		1,638,575
Eaton Corp. plc		29,596		2,566,861
				4,205,436
Electronic Equipment, Instruments & Components—0.4%
Flex, Ltd. (a)		393,704		5,165,396
Energy Equipment & Services—0.5%
Baker Hughes a GE Co.		79,851		2,701,360
Halliburton Co.		76,974		3,119,756
				5,821,116
Entertainment—1.0%
Cinemark Holdings, Inc. (b)		11,797		474,239
Electronic Arts, Inc. (a)		20,512		2,471,491
Liberty Media Corp.-Liberty Formula One - Class C (a)		39,223		1,458,703
Netflix, Inc. (a)		8,385		3,137,080
Spotify Technology S.A. (a)		4,603		832,361
Twenty-First Century Fox, Inc. - Class A		31,263		1,448,415
Viacom, Inc. - Class B		31,694		1,069,989
Walt Disney Co. (The) (b)		12,591		1,472,392
				12,364,670
Equity Real Estate Investment Trusts—1.7%
Alexandria Real Estate Equities, Inc.		22,007		2,768,260
American Tower Corp.		58,773		8,539,717
Camden Property Trust		25,452		2,381,544
Equinix, Inc.		6,643		2,875,688
Outfront Media, Inc.		44,819		894,139
Public Storage		9,163		1,847,536
Simon Property Group, Inc.		18,152		3,208,366
				22,515,250
Food & Staples Retailing—0.8%
Costco Wholesale Corp.		19,138		4,495,134
Sysco Corp.		34,840		2,552,030
U.S. Foods Holding Corp. (a)		93,192		2,872,177
				9,919,341
Food Products—1.2%
Archer-Daniels-Midland Co.		43,749		2,199,262
Fresh Del Monte Produce, Inc.		29,947		1,014,904
Freshpet, Inc. (a)		31,918		1,171,391
Hormel Foods Corp. (b)		28,216		1,111,710
Hostess Brands, Inc. (a) (b)		145,846		1,614,515
McCormick & Co., Inc.		16,675		2,196,931
Post Holdings, Inc. (a) (b)		57,987		5,685,046
				14,993,759
Health Care Equipment & Supplies—2.6%
Abbott Laboratories		85,821		6,295,829
Baxter International, Inc.		41,477		3,197,462
Boston Scientific Corp. (a)		230,426		8,871,401
Danaher Corp.		41,869		4,549,485
Medtronic plc		107,128		10,538,181
				33,452,358
Health Care Providers & Services—1.6%
HCA Healthcare, Inc.		27,470		3,821,626
UnitedHealth Group, Inc.		65,343		17,383,852
				21,205,478
Hotels, Restaurants & Leisure—0.9%
Hilton Worldwide Holdings, Inc.		46,074		3,721,858
McDonald’s Corp.		42,131		7,048,095
MGM Resorts International		38,245		1,067,418
				11,837,371
Household Durables—0.1%
Installed Building Products, Inc. (a)		25,805		1,006,395
Independent Power and Renewable Electricity Producers—0.4%
NRG Energy, Inc.		126,029		4,713,485
Industrial Conglomerates—0.5%
3M Co. (b)		18,091		3,811,954
General Electric Co.		264,913		2,990,868
				6,802,822
Insurance—2.5%
Allstate Corp. (The)		12,043		1,188,644
American International Group, Inc.		118,905		6,330,502
Assurant, Inc.		29,741		3,210,541
Assured Guaranty, Ltd.		113,738		4,803,156
Athene Holding, Ltd. - Class A (a)		78,713		4,066,313
Hartford Financial Services Group, Inc. (The)		46,809		2,338,578
Marsh & McLennan Cos., Inc. (b)		62,754		5,191,011
Prudential Financial, Inc.		34,253		3,470,514
Trupanion, Inc. (a) (b)		38,600		1,379,178
				31,978,437
Interactive Media & Services—2.4%
Alphabet, Inc. - Class A (a)		20,035		24,183,848
Facebook, Inc. - Class A (a)		40,669		6,688,424
				30,872,272
Internet & Direct Marketing Retail—3.6%
Amazon.com, Inc. (a)		16,393		32,835,179
eBay, Inc. (a)		59,216		1,955,312
Etsy, Inc. (a)		41,709		2,143,009
Expedia Group, Inc. (b)		28,968		3,779,745
Wayfair, Inc. - Class A (a) (b)		37,117		5,481,067
				46,194,312

BHFTII-102

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—2.7%
Accenture plc - Class A		6,442	$	1,096,428
Alliance Data Systems Corp.		5,856		1,382,953
FleetCor Technologies, Inc. (a)		15,621		3,559,089
Genpact, Ltd.		53,703		1,643,849
Global Payments, Inc.		43,187		5,502,024
GoDaddy, Inc. - Class A (a)		51,723		4,313,181
PayPal Holdings, Inc. (a)		46,779		4,109,067
Total System Services, Inc.		8,403		829,712
Visa, Inc. - Class A		68,484		10,278,764
WEX, Inc. (a)		9,963		2,000,172
				34,715,239
Life Sciences Tools & Services—0.6%
Thermo Fisher Scientific, Inc.		30,093		7,345,099
Machinery—0.9%
AGCO Corp.		6,104		371,062
Caterpillar, Inc.		17,015		2,594,617
Deere & Co.		14,708		2,211,054
Fortive Corp.		25,572		2,153,162
Greenbrier Cos., Inc. (The)		19,126		1,149,473
Illinois Tool Works, Inc. (b)		14,493		2,045,252
Pentair plc		33,571		1,455,303
				11,979,923
Marine—0.0%
Kirby Corp. (a) (b)		7,349		604,455
Media—1.4%
Charter Communications, Inc. - Class A (a)		18,009		5,868,773
Comcast Corp. - Class A		288,831		10,227,505
Interpublic Group of Cos., Inc. (The)		56,347		1,288,656
New York Times Co. (The) - Class A (b)		17,845		413,112
				17,798,046
Metals & Mining—0.2%
Alcoa Corp. (a)		18,634		752,814
ArcelorMittal		2,665		82,242
Freeport-McMoRan, Inc.		22,659		315,413
Southern Copper Corp.		5,391		232,568
Steel Dynamics, Inc.		18,728		846,318
				2,229,355
Multi-Utilities—0.4%
Sempra Energy		47,086		5,356,032
Oil, Gas & Consumable Fuels—3.0%
Andeavor		16,878		2,590,773
Cabot Oil & Gas Corp. (b)		17,228		387,975
Chevron Corp.		59,111		7,228,093
Concho Resources, Inc. (a) (b)		14,966		2,286,056
Diamondback Energy, Inc.		13,087		1,769,232
Encana Corp.		89,581		1,174,407
EOG Resources, Inc. (b)		2,998		382,455
Exxon Mobil Corp.		163,005		13,858,685
Oil, Gas & Consumable Fuels—(Continued)
Marathon Petroleum Corp. (b)		30,901		2,471,153
Newfield Exploration Co. (a) (b)		51,314		1,479,383
Noble Energy, Inc.		10,399		324,345
ONEOK, Inc.		26,518		1,797,655
Paragon Offshore Finance Co. - Class A (a) (h)		162		172
Paragon Offshore Finance Co. - Class B (a) (h)		81		3,230
Templar Energy LLC (a) (h)		2,426		2,547
TransCanada Corp.		64,103		2,593,607
				38,349,768
Personal Products—0.6%
Coty, Inc. - Class A (b)		257,781		3,237,729
Unilever NV		69,005		3,833,228
				7,070,957
Pharmaceuticals—2.9%
Aerie Pharmaceuticals, Inc. (a) (b)		13,052		803,351
Allergan plc		46,698		8,895,035
Amneal Pharmaceuticals, Inc. (a) (b)		66,842		1,483,224
Assembly Biosciences, Inc. (a) (b)		7,600		282,264
AstraZeneca plc (ADR) (b)		155,443		6,150,880
Bristol-Myers Squibb Co.		131,839		8,184,565
Clearside Biomedical, Inc. (a)		10,600		65,190
Dermira, Inc. (a)		60,417		658,545
Elanco Animal Health, Inc. (a)		14,500		505,905
Kala Pharmaceuticals, Inc. (a)		17,700		174,699
Mylan NV (a)		105,149		3,848,453
MyoKardia, Inc. (a)		13,634		888,937
Nektar Therapeutics (a)		10,417		635,020
Otonomy, Inc. (a)		28,096		77,264
Revance Therapeutics, Inc. (a) (b)		20,027		497,671
Teva Pharmaceutical Industries, Ltd. (ADR)		195,939		4,220,526
Tricida, Inc. (a)		16,500		504,075
				37,875,604
Professional Services—0.7%
Equifax, Inc.		14,785		1,930,478
IHS Markit, Ltd. (a)		61,693		3,328,954
TransUnion		25,023		1,841,192
TriNet Group, Inc. (a)		30,450		1,714,944
				8,815,568
Road & Rail—0.6%
Norfolk Southern Corp.		19,783		3,570,832
Union Pacific Corp.		22,258		3,624,270
				7,195,102
Semiconductors & Semiconductor Equipment—2.7%
Advanced Micro Devices, Inc. (a) (b)		284,450		8,786,661
Broadcom, Inc.		26,591		6,560,797
Intel Corp.		99,211		4,691,688
KLA-Tencor Corp.		12,751		1,296,904
Marvell Technology Group, Ltd.		43,040		830,672
Micron Technology, Inc. (a) (b)		45,478		2,056,970
NVIDIA Corp.		14,946		4,200,125

BHFTII-103

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Semiconductors & Semiconductor Equipment—(Continued)
Teradyne, Inc.		91,954	$	3,400,459
Texas Instruments, Inc.		29,830		3,200,461
				35,024,737
Software—3.8%
Adobe Systems, Inc. (a)		6,701		1,808,935
Atlassian Corp. plc - Class A (a)		2,039		196,029
Autodesk, Inc. (a)		7,506		1,171,762
Guidewire Software, Inc. (a) (b)		13,014		1,314,544
Microsoft Corp.		232,259		26,563,462
PTC, Inc. (a) (b)		9,766		1,037,052
Salesforce.com, Inc. (a)		30,742		4,888,900
ServiceNow, Inc. (a)		8,526		1,667,941
Splunk, Inc. (a)		5,223		631,513
SS&C Technologies Holdings, Inc.		133,475		7,585,384
Workday, Inc. - Class A (a) (b)		17,509		2,555,964
				49,421,486
Specialty Retail—1.3%
Lowe’s Cos., Inc.		35,981		4,131,338
National Vision Holdings, Inc. (a)		92,905		4,193,732
TJX Cos., Inc. (The)		69,836		7,823,029
				16,148,099
Technology Hardware, Storage & Peripherals—2.2%
Apple, Inc.		128,180		28,935,353
Textiles, Apparel & Luxury Goods—0.8%
NIKE, Inc. - Class B		64,615		5,474,183
Skechers USA, Inc. - Class A (a)		18,283		510,644
Tapestry, Inc.		30,848		1,550,729
Under Armour, Inc. - Class A (a) (b)		58,037		1,231,545
Under Armour, Inc. - Class C (a) (b)		104,009		2,024,015
				10,791,116
Thrifts & Mortgage Finance—0.1%
MGIC Investment Corp. (a)		114,804		1,528,041
Tobacco—1.4%
Altria Group, Inc.		142,777		8,610,881
British American Tobacco plc (ADR)		171,331		7,989,164
Philip Morris International, Inc.		21,753		1,773,740
				18,373,785
Trading Companies & Distributors—0.1%
Air Lease Corp.		14,100		646,908
Total Common Stocks (Cost $645,622,223)				787,350,413
U.S. Treasury & Government Agencies—22.0%
Agency Sponsored Mortgage-Backed—18.9%
Fannie Mae 15 Yr. Pool 3.000%, 07/01/28		1,498,284		1,485,340
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 15 Yr. Pool 3.000%, 02/01/31		185,588		183,507
3.500%, 07/01/28		221,390		223,455
3.500%, TBA (d)		300,000		301,542
4.000%, 04/01/26		38,372		39,283
4.000%, 02/01/29		912,774		932,037
4.500%, 06/01/24		195,929		203,151
4.500%, 02/01/25		47,731		49,275
4.500%, 04/01/25		7,751		8,018
4.500%, 07/01/25		40,554		42,072
4.500%, 06/01/26		848,692		880,152
5.000%, TBA (d)		500,000		514,698
Fannie Mae 20 Yr. Pool 3.000%, 03/01/37		881,700		859,870
Fannie Mae 30 Yr. Pool 3.000%, 02/01/43		746,524		721,218
3.000%, 03/01/43		960,088		927,185
3.000%, 04/01/43		876,423		846,337
3.000%, 05/01/43		2,423,066		2,339,675
3.000%, 06/01/43		285,425		275,579
3.000%, 04/01/47		8,645,761		8,281,226
3.500%, 03/01/43		48,424		48,041
3.500%, 05/01/43		88,429		87,573
3.500%, 07/01/43		218,747		216,905
3.500%, 08/01/43		411,091		407,647
3.500%, 10/01/44		384,652		380,275
3.500%, 02/01/45		467,292		461,864
3.500%, 09/01/46		898,487		887,000
3.500%, 10/01/46		392,625		387,618
3.500%, 11/01/46		260,426		257,132
3.500%, 09/01/47		359,182		353,713
3.500%, 12/01/47		196,032		193,078
3.500%, 01/01/48		1,361,716		1,340,839
3.500%, 02/01/48		284,520		280,567
3.500%, TBA (d)		53,202,000		52,354,652
4.000%, 10/01/40		818,374		832,537
4.000%, 11/01/40		371,072		377,520
4.000%, 12/01/40		267,155		271,800
4.000%, 02/01/41		129,041		131,363
4.000%, 03/01/41		302,874		308,141
4.000%, 08/01/42		170,114		173,072
4.000%, 09/01/42		268,956		273,632
4.000%, 03/01/45		46,542		47,086
4.000%, 07/01/45		238,068		242,030
4.000%, 05/01/46		143,527		145,082
4.000%, 06/01/46		313,885		317,299
4.000%, 04/01/47		329,929		335,161
4.000%, TBA (d)		16,165,000		16,322,447
4.500%, 10/01/40		739,877		770,358
4.500%, 09/01/41		92,415		96,064
4.500%, 10/01/41		318,005		330,883
4.500%, 08/01/42		108,341		112,478
4.500%, 09/01/43		1,792,919		1,860,964
4.500%, 10/01/43		228,273		236,613
4.500%, 12/01/43		191,847		199,069

BHFTII-104

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.500%, 01/01/44		574,020	$	597,270
4.500%, TBA (d)		2,700,000		2,785,324
5.000%, 04/01/33		3,420		3,632
5.000%, 07/01/33		10,460		11,099
5.000%, 09/01/33		162,288		172,302
5.000%, 11/01/33		42,060		44,795
5.000%, 12/01/33		16,892		17,935
5.000%, 02/01/34		7,579		8,048
5.000%, 03/01/34		3,582		3,803
5.000%, 04/01/34		3,406		3,616
5.000%, 06/01/34		3,578		3,797
5.000%, 07/01/34		49,425		52,475
5.000%, 10/01/34		123,849		131,490
5.000%, 07/01/35		85,961		91,268
5.000%, 10/01/35		94,489		100,326
5.000%, 12/01/35		75,246		79,889
5.000%, 08/01/36		69,249		73,530
5.000%, 07/01/37		37,759		40,093
5.000%, 07/01/41		72,941		77,616
5.000%, 08/01/41		36,185		38,504
5.000%, 06/01/47		732,854		769,745
5.000%, TBA (d)		1,900,000		1,994,555
5.500%, 08/01/28		25,062		26,756
5.500%, 04/01/33		45,767		49,407
5.500%, 08/01/37		265,789		287,268
5.500%, 04/01/41		21,654		23,306
6.000%, 03/01/28		2,154		2,327
6.000%, 05/01/28		4,018		4,340
6.000%, 02/01/34		184,787		203,542
6.000%, 08/01/34		97,316		107,182
6.000%, 04/01/35		834,947		919,567
6.000%, 02/01/38		65,395		71,950
6.000%, 03/01/38		20,999		23,110
6.000%, 05/01/38		65,159		71,712
6.000%, 10/01/38		19,081		21,036
6.000%, 12/01/38		24,242		26,726
6.000%, TBA (d)		1,000,000		1,080,889
6.500%, 05/01/40		477,009		526,262
Fannie Mae ARM Pool
3.539%, 12M LIBOR + 1.797%, 12/01/40 (e)		72,559		75,704
3.725%, 12M LIBOR + 1.750%, 03/01/41 (e)		65,620		68,248
3.836%, 12M LIBOR + 1.820%, 03/01/41 (e)		22,292		23,415
4.100%, 12M LIBOR + 1.776%, 06/01/41 (e)		157,430		164,771
4.109%, 12M LIBOR + 1.825%, 09/01/41 (e)		83,902		87,752
Fannie Mae Connecticut Avenue Securities (CMO)
2.936%, 1M LIBOR + 0.720%, 01/25/31 (e)		807,171		808,629
5.766%, 1M LIBOR + 3.550%, 07/25/29 (e)		390,000		425,764
6.566%, 1M LIBOR + 4.350%, 05/25/29 (e)		780,142		872,690
7.116%, 1M LIBOR + 4.900%, 11/25/24 (e)		285,521		326,937
7.916%, 1M LIBOR + 5.700%, 04/25/28 (e)		157,514		183,139
8.216%, 1M LIBOR + 6.000%, 09/25/28 (e)		129,000		151,762
Fannie Mae Interest Strip (CMO) 2.000%, 09/25/39		431,761		401,421
4.000%, 05/25/27 (f)		332,907		30,444
Fannie Mae Pool 2.390%, 09/01/28		125,000		113,330
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae Pool 3.025%, 11/01/29		400,000		377,232
3.140%, 11/01/27		666,624		649,704
3.170%, 11/01/29		300,000		286,616
3.170%, 02/01/30		1,300,000		1,240,863
3.175%, 01/01/30		1,400,000		1,332,523
3.180%, 12/01/29		1,000,000		955,978
3.240%, 12/01/26		81,489		80,123
3.410%, 08/01/27		477,744		474,827
3.500%, 09/01/57		2,236,771		2,195,629
3.660%, 07/01/30		500,000		499,604
3.890%, 05/01/30		100,246		101,972
3.960%, 05/01/34		42,192		43,047
Fannie Mae REMICS (CMO) Zero Coupon, 03/25/36 (g)		29,754		24,094
Zero Coupon, 06/25/36 (g) (h)		243,370		203,865
1.491%, 08/25/44 (e) (f) (h)		726,406		28,519
1.498%, 04/25/55 (e) (f)		769,288		35,808
1.526%, 05/25/46 (e) (f) (h)		788,218		35,968
1.682%, 06/25/55 (e) (f) (h)		615,026		29,936
1.750%, 12/25/42		571,792		532,249
2.000%, 08/25/43		271,440		250,894
2.500%, 06/25/28 (f) (h)		185,939		13,950
3.000%, 02/25/27 (f) (h)		484,693		35,540
3.000%, 09/25/27 (f) (h)		168,265		14,549
3.000%, 01/25/28 (f) (h)		1,148,583		95,122
3.000%, 09/25/47		1,463,285		1,426,389
3.000%, 06/25/48		1,360,821		1,310,652
3.000%, 10/25/48 (c) (i)		1,103,388		1,075,458
3.500%, 05/25/27 (f) (h)		480,234		48,111
3.500%, 10/25/27 (f) (h)		294,239		28,132
3.500%, 05/25/30 (f) (h)		307,525		36,686
3.500%, 08/25/30 (f) (h)		98,025		11,111
3.500%, 02/25/31 (f) (h)		231,371		20,484
3.500%, 09/25/35 (f) (h)		195,536		29,649
3.500%, 04/25/46		143,109		132,059
3.500%, 10/25/46 (f) (h)		167,140		38,751
3.500%, 11/25/47		1,231,529		1,224,959
3.500%, 02/25/48		365,000		363,403
3.500%, 04/25/48		785,806		782,547
4.000%, 03/25/42 (f) (h)		136,024		20,999
4.000%, 05/25/42 (f) (h)		832,520		112,371
4.000%, 11/25/42 (f) (h)		76,485		11,798
4.500%, 07/25/27 (f) (h)		153,776		15,850
5.463%, 05/25/42 (e) (f)		82,565		9,388
5.500%, 04/25/35 (h)		333,286		365,452
5.500%, 04/25/37		131,505		141,776
5.500%, 09/25/44 (f) (h)		596,699		138,294
6.000%, 01/25/42 (f) (h)		619,293		114,678
6.000%, 09/25/47 (f) (h)		401,509		94,912
Fannie Mae-ACES (CMO) 2.289%, 01/25/22 (e) (f)		1,176,538		40,427
3.193%, 02/25/30 (e)		635,000		598,211
3.329%, 10/25/23 (e)		494,646		496,968
Freddie Mac 15 Yr. Gold Pool 3.000%, 07/01/28		622,983		617,671

BHFTII-105

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 15 Yr. Gold Pool 3.000%, 08/01/29		377,220	$	373,645
3.000%, 04/01/33		3,846,247		3,791,806
3.000%, TBA (d)		575,000		566,536
3.500%, TBA (d)		1,500,000		1,507,777
Freddie Mac 20 Yr. Gold Pool 3.000%, 11/01/36		1,201,797		1,171,703
3.000%, 01/01/37		887,535		865,312
3.500%, 08/01/34		791,806		794,376
5.000%, 03/01/27		77,922		81,828
5.000%, 02/01/28		199,723		209,734
5.000%, 03/01/28		99,444		104,428
5.000%, 05/01/28		380,294		399,356
5.000%, 05/01/30		376,562		396,398
Freddie Mac 30 Yr. Gold Pool 3.000%, 12/01/44		18,423		17,737
3.000%, 08/01/46		1,727,490		1,655,516
3.000%, 10/01/46		1,752,121		1,679,120
3.000%, 11/01/46		2,678,103		2,566,604
3.000%, 12/01/46		838,326		803,656
3.000%, 01/01/47		950,502		910,072
3.000%, 01/01/48		8,236,214		7,885,226
3.500%, 08/01/42		122,613		121,744
3.500%, 11/01/42		179,065		177,593
3.500%, 06/01/46		280,356		276,416
3.500%, 10/01/47		1,327,831		1,307,497
3.500%, 03/01/48		675,723		667,055
3.500%, TBA (d)		14,365,000		14,134,374
4.000%, 05/01/42		805,700		820,671
4.000%, 08/01/42		215,613		219,625
4.000%, 09/01/42		291,259		296,409
4.000%, 07/01/44		72,578		73,907
4.000%, 02/01/46		303,150		306,629
4.000%, TBA (d)		14,265,000		14,403,632
4.500%, 09/01/43		120,566		124,868
4.500%, 11/01/43		1,047,116		1,083,325
4.500%, TBA (d)		1,405,000		1,450,168
5.000%, 03/01/38		70,092		74,394
5.000%, 05/01/39		7,614		8,053
5.000%, 06/01/41		409,470		433,616
5.000%, TBA (d)		580,000		609,000
5.500%, 07/01/33		119,370		127,550
5.500%, 04/01/39		48,070		51,850
5.500%, 06/01/41		181,339		195,544
Freddie Mac ARM Non-Gold Pool 3.894%, 12M LIBOR + 1.900%, 02/01/41 (e)		101,270		106,060
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 0.744%, 03/25/27 (e) (f)		4,374,060		190,557
1.586%, 06/25/22 (e) (f)		1,797,935		79,825
1.625%, 12/25/18 (e) (f)		1,914,648		2,048
1.772%, 03/25/22 (e) (f)		1,313,936		61,318
1.858%, 05/25/19 (e) (f)		2,219,162		12,898
Freddie Mac REMICS (CMO) Zero Coupon, 11/15/36 (g)		26,868		24,197
1.750%, 10/15/42		499,326		465,610
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac REMICS (CMO) 2.500%, 05/15/28 (f)		196,578		15,238
3.000%, 03/15/28 (f) (h)		568,344		43,860
3.000%, 05/15/32 (f)		256,158		18,310
3.000%, 03/15/33 (f) (h)		186,825		22,779
3.000%, 08/15/43		875,000		828,065
3.000%, 05/15/46		565,761		553,098
3.000%, 02/15/48		1,051,307		1,030,862
3.250%, 11/15/41		291,000		286,985
3.500%, 06/15/26 (f) (h)		299,108		19,184
3.500%, 09/15/26 (f)		103,420		9,200
3.500%, 03/15/27 (f)		177,135		15,201
3.500%, 03/15/41 (f) (h)		69,919		8,576
4.000%, 07/15/27 (f)		681,730		62,779
4.000%, 03/15/28 (f)		318,860		29,128
4.000%, 06/15/28 (f)		171,620		15,993
4.000%, 07/15/30 (f)		461,205		49,735
4.750%, 07/15/39		509,046		536,722
5.000%, 09/15/33 (f)		245,781		48,147
5.500%, 08/15/33		64,108		68,567
5.500%, 07/15/36		137,028		147,025
5.500%, 06/15/46		183,021		198,153
6.500%, 07/15/36		183,225		200,286
FREMF Mortgage Trust (CMO) 3.089%, 10/25/47 (144A) (e)		770,000		768,106
5.445%, 09/25/43 (144A) (e)		855,000		879,961
Ginnie Mae I 30 Yr. Pool 3.000%, 12/15/44		24,750		24,030
3.000%, 02/15/45		71,278		69,119
3.000%, 04/15/45		947,906		919,192
3.000%, 05/15/45		1,184,062		1,148,194
3.000%, 07/15/45		33,074		32,072
4.000%, 09/15/42		842,007		861,581
4.500%, 04/15/41		592,531		618,067
4.500%, 02/15/42		1,296,292		1,352,270
5.000%, 12/15/38		45,398		48,224
5.000%, 04/15/39		858,561		911,769
5.000%, 07/15/39		83,691		87,898
5.000%, 12/15/40		123,549		131,205
5.500%, 12/15/40		444,452		481,939
Ginnie Mae II 30 Yr. Pool 3.000%, TBA (d)		5,035,000		4,876,378
3.500%, 08/20/47		367,701		365,906
3.500%, TBA (d)		16,103,000		16,012,107
4.000%, 11/20/47		292,145		299,011
4.000%, 03/20/48		1,083,591		1,105,362
4.500%, 01/20/46		134,941		141,373
4.500%, 08/20/48		2,302,970		2,382,786
4.500%, 09/20/48		2,132,072		2,205,965
4.500%, TBA (d)		800,000		826,875
5.000%, 10/20/39		20,389		21,774
5.000%, TBA (d)		2,370,000		2,474,799
Government National Mortgage Association (CMO) 0.779%, 02/16/53 (e) (f)		2,008,981		97,026
1.750%, 09/20/43		94,676		88,675
2.500%, 12/16/39		413,200		398,070

BHFTII-106

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Government National Mortgage Association (CMO) 3.000%, 09/20/28 (f)		216,157	$	18,565
3.000%, 02/16/43 (f)		131,815		20,643
3.000%, 03/20/47		158,322		133,345
3.500%, 02/16/27 (f)		92,526		8,252
3.500%, 03/20/27 (f)		228,329		22,426
3.500%, 10/20/29 (f)		1,214,175		137,772
3.500%, 07/20/40 (f)		221,732		24,404
3.500%, 02/20/41 (f)		317,635		37,499
3.500%, 04/20/42 (f)		539,041		68,390
3.500%, 10/20/42 (f)		813,317		150,094
3.500%, 05/20/43 (f) (h)		113,949		20,300
3.500%, 07/20/43 (f) (h)		440,865		69,058
3.500%, 01/20/46		508,000		481,683
4.000%, 12/16/26 (f)		63,610		6,356
4.000%, 05/20/29 (f)		943,866		94,878
4.000%, 05/16/42 (f) (h)		96,364		13,505
4.000%, 03/20/43 (f)		151,984		32,844
4.000%, 01/20/44 (f) (h)		69,014		16,227
4.000%, 11/20/44 (f) (h)		1,137,100		201,276
4.000%, 03/20/47 (f)		549,273		100,940
4.000%, 07/20/47 (f)		828,781		149,753
4.500%, 04/20/45 (f) (h)		243,025		59,359
5.000%, 02/16/40 (f)		636,697		152,160
5.000%, 10/16/41 (f) (h)		366,948		55,390
5.000%, 01/16/47 (f)		162,845		35,869
5.500%, 03/20/39 (f) (h)		458,752		104,885
5.500%, 02/16/47 (f)		443,023		100,183
5.500%, 02/20/47 (f)		273,026		60,423
6.000%, 09/20/40 (f)		488,514		116,656
6.000%, 02/20/46 (f)		422,294		98,021
				243,396,465
U.S. Treasury—3.1%
U.S. Treasury Bonds 2.875%, 11/15/46 (j)		1,600,000		1,504,125
3.000%, 11/15/45 (j) (k)		1,980,000		1,908,844
3.000%, 02/15/47 (k)		1,500,000		1,444,746
3.000%, 02/15/48 (k)		2,840,000		2,731,947
3.750%, 11/15/43 (k)		7,910,000		8,658,360
U.S. Treasury Inflation Indexed Notes 0.250%, 01/15/25 (k) (l) (m)		8,536,231		8,192,565
0.625%, 01/15/26 (b) (l)		2,810,537		2,750,703
U.S. Treasury Notes 1.625%, 11/15/22		7,650,000		7,263,018
1.875%, 11/30/21		5,110,000		4,954,504
				39,408,812
Total U.S. Treasury & Government Agencies (Cost $288,464,852)				282,805,277
Corporate Bonds & Notes—11.4%
Aerospace/Defense—0.2%
Lockheed Martin Corp. 4.090%, 09/15/52		920,000		874,131
Aerospace/Defense—(Continued)
United Technologies Corp. 2.800%, 05/04/24		25,000		23,699
3.650%, 08/16/23 (b)		1,195,000		1,189,058
3.950%, 08/16/25		345,000		342,810
4.625%, 11/16/48		90,000		90,006
				2,519,704
Agriculture—0.4%
Altria Group, Inc. 2.850%, 08/09/22		1,150,000		1,123,653
3.875%, 09/16/46		530,000		464,977
BAT Capital Corp. 2.297%, 08/14/20 (144A)		2,810,000		2,753,624
3.222%, 08/15/24 (144A)		380,000		362,093
4.390%, 08/15/37 (144A)		665,000		617,954
Imperial Brands Finance plc 3.750%, 07/21/22 (144A)		310,000		308,554
				5,630,855
Airlines—0.0%
Delta Air Lines, Inc. 3.625%, 03/15/22		185,000		182,684
3.800%, 04/19/23		280,000		274,252
				456,936
Auto Manufacturers—0.3%
Daimler Canada Finance, Inc. 1.420%, 10/02/18 (CAD) (h)		205,000		158,680
2.689%, 3M CDOR + 0.830%, 07/08/19 (CAD) (e) (h)		335,000		258,801
Ford Credit Canada Co. 2.939%, 02/19/19 (CAD)		270,000		209,298
Ford Motor Co. 5.291%, 12/08/46 (b)		140,000		124,519
Ford Motor Credit Co. LLC 3.815%, 11/02/27 (b)		200,000		178,815
General Motors Co. 5.400%, 04/01/48 (b)		460,000		428,746
5.950%, 04/01/49		315,000		312,422
6.250%, 10/02/43		195,000		199,711
6.750%, 04/01/46		250,000		270,254
General Motors Financial Co., Inc. 3.613%, 3M LIBOR + 1.270%, 10/04/19 (e)		100,000		100,762
3.700%, 05/09/23		300,000		293,382
3.899%, 3M LIBOR + 1.560%, 01/15/20 (b) (e)		200,000		202,603
3.950%, 04/13/24		165,000		160,654
Toyota Credit Canada, Inc. 2.800%, 11/21/18 (CAD)		270,000		209,355
Toyota Motor Credit Corp. 2.459%, 3M LIBOR + 0.140%, 11/14/19 (e)		100,000		100,064
				3,208,066
Auto Parts & Equipment—0.0%
Goodyear Tire & Rubber Co. (The) 5.000%, 05/31/26		60,000		56,415

BHFTII-107

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—3.4%
Banco Bilbao Vizcaya Argentaria S.A. 6.125%, 5Y USD Swap + 3.870%, 11/16/27 (e)		1,200,000	$	1,078,500
8.875%, 5Y EUR Swap + 9.177%, 04/14/21 (EUR) (e)		200,000		259,495
Banco de Sabadell S.A. 6.125%, 5Y EUR Swap + 6.051%, 11/23/22 (EUR) (e)		200,000		229,307
6.500%, 5Y EUR Swap + 6.414%, 05/18/22 (EUR) (e)		600,000		702,276
Banco Santander S.A. 3.800%, 02/23/28		600,000		544,858
Bank of America Corp. 2.250%, 04/21/20		1,910,000		1,884,521
3.124%, 3M LIBOR + 1.160%, 01/20/23 (e)		805,000		790,434
3.366%, 3M LIBOR + 0.810%, 01/23/26 (e)		1,255,000		1,206,410
3.419%, 3M LIBOR + 1.040%, 12/20/28 (e)		118,000		110,682
3.705%, 3M LIBOR + 1.512%, 04/24/28 (e)		1,045,000		1,005,324
4.000%, 04/01/24		133,000		134,152
4.000%, 01/22/25		595,000		586,927
4.125%, 01/22/24		265,000		269,155
7.750%, 05/14/38		630,000		849,474
Bank of Nova Scotia (The) 2.936%, 3M LIBOR + 0.620%, 12/05/19 (e)		175,000		176,004
Barclays Bank plc 2.650%, 01/11/21		200,000		196,056
Barclays plc 8.000%, 5Y EUR Swap + 6.750%, 12/15/20 (EUR) (e)		325,000		415,711
BNP Paribas S.A. 2.950%, 05/23/22 (144A)		220,000		212,931
3.375%, 01/09/25 (144A)		615,000		582,009
4.400%, 08/14/28 (144A) (b)		405,000		397,222
5.125%, 5Y USD Swap + 2.838%, 11/15/27 (144A) (e)		325,000		290,875
7.625%, 5Y USD Swap + 6.314%, 03/30/21 (144A) (b) (e)		390,000		409,500
BPCE S.A. 2.750%, 01/11/23 (144A)		270,000		258,103
3.000%, 05/22/22 (144A)		255,000		246,490
CaixaBank S.A. 6.750%, 5Y EUR Swap + 6.498%, 06/13/24 (EUR) (e)		200,000		250,591
Citigroup, Inc. 2.700%, 10/27/22		265,000		254,762
3.121%, 3M LIBOR + 0.790%, 01/10/20 (e)		200,000		201,390
3.200%, 10/21/26		660,000		616,089
3.412%, 3M LIBOR + 1.100%, 05/17/24 (e)		680,000		685,407
3.520%, 3M LIBOR + 1.151%, 10/27/28 (e)		230,000		216,088
4.075%, 3M LIBOR + 1.192%, 04/23/29 (e)		165,000		161,841
4.450%, 09/29/27		885,000		874,267
4.650%, 07/30/45		9,000		9,047
4.750%, 05/18/46		355,000		346,939
Credit Agricole S.A. 4.000%, 5Y USD Swap + 1.644%, 01/10/33 (144A) (e)		380,000		351,934
8.125%, 5Y USD Swap + 6.185%, 12/23/25 (144A) (e)		725,000		797,480
Credit Suisse Group AG 6.250%, 5Y USD Swap + 3.455%, 12/18/24 (144A) (e)		1,320,000		1,301,850
7.500%, 5Y USD Swap + 4.600%, 07/17/23 (144A) (e)		200,000		205,750
Danske Bank A/S 5.875%, 5Y EUR Swap + 5.471%, 04/06/22 (EUR) (e)		200,000		236,274
Goldman Sachs Group, Inc. (The) 2.750%, 09/15/20		647,000		640,009
2.876%, 3M LIBOR + 0.821%, 10/31/22 (e)		255,000		248,793
2.905%, 3M LIBOR + 0.990%, 07/24/23 (e)		1,085,000		1,047,861
Banks—(Continued)
Goldman Sachs Group, Inc. (The) 3.134%, 3M LIBOR + 0.800%, 12/13/19 (e)		100,000		100,651
3.814%, 3M LIBOR + 1.158%, 04/23/29 (e)		735,000		700,665
4.017%, 3M LIBOR + 1.373%, 10/31/38 (e)		820,000		759,161
4.223%, 3M LIBOR + 1.301%, 05/01/29 (e)		45,000		44,322
6.250%, 02/01/41		430,000		516,114
6.750%, 10/01/37		410,000		492,618
HSBC Holdings plc 2.950%, 05/25/21		255,000		251,526
3.400%, 03/08/21		765,000		763,117
3.600%, 05/25/23		255,000		252,408
4.250%, 08/18/25		390,000		382,424
4.583%, 3M LIBOR + 1.535%, 06/19/29 (e)		260,000		260,291
6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (e)		575,000		551,569
6.250%, 5Y USD ICE Swap + 3.453%, 03/23/23 (e)		450,000		448,313
Intesa Sanpaolo S.p.A. 3.375%, 01/12/23 (144A)		215,000		198,996
3.875%, 01/12/28 (144A)		295,000		249,841
7.700%, 5Y USD Swap + 5.462%, 09/17/25 (144A) (b) (e)		650,000		626,444
7.750%, 5Y EUR Swap + 7.192%, 01/11/27 (EUR) (e)		400,000		498,052
JPMorgan Chase & Co. 3.220%, 3M LIBOR + 1.155%, 03/01/25 (e)		550,000		532,806
3.509%, 3M LIBOR + 0.945%, 01/23/29 (e)		525,000		497,006
3.572%, 3M LIBOR + 1.230%, 10/24/23 (e)		325,000		331,475
3.797%, 3M LIBOR + 0.890%, 07/23/24 (e)		435,000		434,658
4.005%, 3M LIBOR + 1.120%, 04/23/29 (e)		410,000		402,833
5.600%, 07/15/41		30,000		34,579
Landsbanki Islands Zero Coupon, 08/25/20 (c) (h) (i) (n)		320,000		0
Morgan Stanley 2.500%, 04/21/21		680,000		664,330
2.750%, 05/19/22		645,000		625,611
3.087%, 3M LIBOR + 0.740%, 07/23/19 (e)		100,000		100,481
3.125%, 07/27/26		180,000		167,608
3.192%, 3M LIBOR + 0.850%, 01/24/19 (e)		260,000		260,632
3.591%, 3M LIBOR + 1.340%, 07/22/28 (e)		1,250,000		1,185,332
3.625%, 01/20/27		685,000		657,376
4.000%, 07/23/25		280,000		278,936
4.350%, 09/08/26		95,000		94,196
5.000%, 11/24/25		322,000		333,343
Royal Bank of Canada 2.150%, 10/26/20		1,020,000		999,546
2.770%, 12/11/18 (CAD)		270,000		209,336
Santander Holdings USA, Inc. 3.700%, 03/28/22		365,000		359,860
Societe Generale S.A. 7.375%, 5Y USD Swap + 6.238%, 09/13/21 (144A) (e)		650,000		670,312
7.875%, 5Y USD Swap + 4.979%, 12/18/23 (144A) (e)		200,000		207,200
Standard Chartered plc 7.500%, 5Y USD Swap + 6.301%, 04/02/22 (e)		400,000		411,000
UBS AG 2.450%, 12/01/20 (144A)		465,000		455,356
UBS Group AG 5.750%, 5Y EUR Swap + 5.287%, 02/19/22 (EUR) (e)		250,000		321,466
6.875%, 5Y USD ICE Swap + 5.497%, 03/22/21 (e)		450,000		463,234
7.000%, 5Y USD Swap + 4.866%, 02/19/25 (e)		200,000		212,331
7.125%, 5Y USD Swap + 5.464%, 02/19/20 (e)		270,000		276,415

BHFTII-108

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
UBS Group Funding Switzerland AG 2.650%, 02/01/22 (144A)		420,000	$	405,926
UniCredit S.p.A. 5.375%, 5Y EUR Swap + 4.925%, 06/03/25 (EUR) (e)		200,000		208,873
6.625%, 5Y EUR Swap + 6.387%, 06/03/23 (EUR) (e)		575,000		659,259
Wells Fargo & Co. 2.625%, 07/22/22		595,000		574,575
3.000%, 04/22/26		310,000		288,331
3.000%, 10/23/26		200,000		185,481
3.069%, 01/24/23		960,000		936,722
3.584%, 3M LIBOR + 1.310%, 05/22/28 (e)		705,000		675,865
4.400%, 06/14/46		290,000		272,438
4.900%, 11/17/45		410,000		415,135
				44,189,163
Beverages—0.3%
Anheuser-Busch InBev Finance, Inc. 3.300%, 02/01/23		675,000		666,387
4.700%, 02/01/36		50,000		50,007
Anheuser-Busch InBev Worldwide, Inc. 3.500%, 01/12/24 (b)		295,000		291,857
3.750%, 07/15/42		405,000		350,325
4.600%, 04/15/48		265,000		256,281
4.750%, 04/15/58		440,000		426,298
Constellation Brands, Inc. 2.650%, 11/07/22		475,000		453,937
2.700%, 05/09/22		80,000		77,130
3.600%, 02/15/28		320,000		299,264
4.500%, 05/09/47		50,000		46,583
4.750%, 12/01/25		433,000		443,351
				3,361,420
Biotechnology—0.1%
Amgen, Inc. 2.650%, 05/11/22		295,000		286,465
Baxalta, Inc. 3.600%, 06/23/22		17,000		16,878
Celgene Corp. 4.625%, 05/15/44		195,000		183,190
Gilead Sciences, Inc. 3.250%, 09/01/22		135,000		134,316
4.150%, 03/01/47		1,110,000		1,049,721
				1,670,570
Building Materials—0.0%
Standard Industries, Inc. 5.000%, 02/15/27 (144A)		10,000		9,413
6.000%, 10/15/25 (144A)		220,000		224,950
				234,363
Chemicals—0.2%
CF Industries, Inc. 4.950%, 06/01/43		95,000		84,075
Chemours Co. (The) 5.375%, 05/15/27		60,000		57,900
Chemicals—(Continued)
International Flavors & Fragrances, Inc. 4.450%, 09/26/28		115,000		115,962
LyondellBasell Industries NV 4.625%, 02/26/55		230,000		206,338
Methanex Corp. 4.250%, 12/01/24		325,000		317,653
5.650%, 12/01/44		145,000		139,461
Olin Corp. 5.125%, 09/15/27		60,000		57,750
Sherwin-Williams Co. (The) 3.125%, 06/01/24		180,000		172,857
3.450%, 06/01/27 (b)		395,000		375,676
Syngenta Finance NV 4.892%, 04/24/25 (144A)		385,000		377,765
5.182%, 04/24/28 (144A)		525,000		502,034
Versum Materials, Inc. 5.500%, 09/30/24 (144A)		60,000		61,350
				2,468,821
Commercial Services—0.2%
Acwa Power Management & Investments One, Ltd. 5.950%, 12/15/39 (144A)		1,269,000		1,226,971
Cardtronics, Inc. 5.125%, 08/01/22		95,000		93,499
IHS Markit, Ltd. 4.125%, 08/01/23		1,225,000		1,222,648
United Rentals North America, Inc. 4.875%, 01/15/28		65,000		60,937
5.500%, 07/15/25		110,000		112,200
				2,716,255
Computers—0.1%
Apple, Inc. 3.450%, 02/09/45		215,000		192,574
3.850%, 08/04/46		55,000		52,653
Hewlett Packard Enterprise Co. 6.350%, 10/15/45		215,000		220,646
Western Digital Corp. 4.750%, 02/15/26		790,000		763,989
				1,229,862
Diversified Financial Services—0.2%
American Express Co. 3.400%, 02/27/23		500,000		492,171
GTP Acquisition Partners I LLC 3.482%, 06/15/50 (144A)		1,355,000		1,318,571
Navient Corp. 5.500%, 01/15/19		210,000		211,050
5.875%, 03/25/21		20,000		20,465
Wells Fargo Canada Corp. 2.780%, 11/15/18 (CAD)		205,000		158,905
				2,201,162
Electric—0.6%
AES Corp. 4.000%, 03/15/21		55,000		54,863

BHFTII-109

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
AES Corp. 4.500%, 03/15/23 (b)		45,000	$	45,113
4.875%, 05/15/23		20,000		20,175
5.125%, 09/01/27		10,000		10,100
Berkshire Hathaway Energy Co. 3.250%, 04/15/28		245,000		231,807
DTE Energy Co. 1.500%, 10/01/19		315,000		310,026
Duke Energy Carolinas LLC 4.250%, 12/15/41		275,000		275,023
Duke Energy Florida LLC 3.400%, 10/01/46		370,000		320,943
Duke Energy Progress LLC 4.375%, 03/30/44		320,000		323,919
Emera U.S. Finance L.P. 4.750%, 06/15/46		25,000		24,342
Exelon Corp. 2.450%, 04/15/21		80,000		77,748
2.850%, 06/15/20		530,000		525,320
FirstEnergy Corp. 4.250%, 03/15/23		110,000		111,688
Fortis, Inc. 2.100%, 10/04/21		135,000		128,962
Georgia Power Co. 2.000%, 09/08/20		1,263,000		1,231,325
Hydro One, Inc. 2.780%, 10/09/18 (CAD)		135,000		104,513
IPALCO Enterprises, Inc. 3.700%, 09/01/24		335,000		324,826
Oncor Electric Delivery Co. LLC 7.000%, 09/01/22		110,000		124,350
Pacific Gas & Electric Co. 2.950%, 03/01/26		165,000		150,056
3.300%, 12/01/27		965,000		881,723
3.400%, 08/15/24		135,000		129,002
6.050%, 03/01/34		590,000		664,118
Sempra Energy 2.400%, 02/01/20		340,000		335,752
South Carolina Electric & Gas Co. 3.500%, 08/15/21		125,000		124,518
4.250%, 08/15/28		140,000		139,353
4.500%, 06/01/64		475,000		436,485
Southern California Edison Co. 3.700%, 08/01/25		95,000		94,342
4.125%, 03/01/48		55,000		52,483
Southern Co. (The) 2.950%, 07/01/23		130,000		124,851
3.250%, 07/01/26		335,000		312,301
Vistra Operations Co. LLC 5.500%, 09/01/26 (144A)		475,000		480,344
				8,170,371
Electronics—0.0%
Fortive Corp. 2.350%, 06/15/21		275,000		266,430
Sensata Technologies B.V. 5.000%, 10/01/25 (144A)		120,000		119,846
				386,276

Security Description	Principal Amount*		Value
Engineering & Construction—0.1%
Fluor Corp. 4.250%, 09/15/28		545,000	$	532,373
Mexico City Airport Trust 3.875%, 04/30/28 (144A)		255,000		228,227
SBA Tower Trust 3.168%, 04/09/47 (144A)		995,000		975,775
				1,736,375
Entertainment—0.0%
GLP Capital L.P. / GLP Financing II, Inc. 5.300%, 01/15/29		290,000		290,516
5.375%, 04/15/26		60,000		60,931
WMG Acquisition Corp. 4.875%, 11/01/24 (144A)		120,000		117,000
5.000%, 08/01/23 (144A)		40,000		39,950
				508,397
Food—0.1%
Kraft Heinz Foods Co. 4.375%, 06/01/46 (b)		320,000		282,172
4.625%, 01/30/29		605,000		603,627
Sysco Corp. 2.500%, 07/15/21		405,000		395,480
TreeHouse Foods, Inc. 6.000%, 02/15/24 (144A)		60,000		61,950
				1,343,229
Food Service—0.0%
Aramark Services, Inc. 5.000%, 02/01/28 (144A) (b)		125,000		122,500
Forest Products & Paper—0.0%
Suzano Austria GmbH 6.000%, 01/15/29 (144A)		200,000		200,800
Gas—0.0%
AmeriGas Partners L.P. / AmeriGas Finance Corp. 5.875%, 08/20/26		95,000		94,288
Healthcare-Products—0.2%
Becton Dickinson & Co. 3.363%, 06/06/24		925,000		893,443
3.700%, 06/06/27		550,000		525,816
Boston Scientific Corp. 4.000%, 03/01/28		505,000		498,686
Thermo Fisher Scientific, Inc. 3.000%, 04/15/23		180,000		174,473
				2,092,418
Healthcare-Services—0.5%
Aetna, Inc. 2.800%, 06/15/23		175,000		167,657
Anthem, Inc. 3.500%, 08/15/24		695,000		679,465
3.650%, 12/01/27		525,000		498,934
4.625%, 05/15/42		170,000		165,877

BHFTII-110

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
CHS/Community Health Systems, Inc. 5.125%, 08/01/21 (b)		110,000	$	106,975
6.250%, 03/31/23		30,000		28,537
Dignity Health 2.637%, 11/01/19		1,525,000		1,515,465
Halfmoon Parent, Inc. 4.125%, 11/15/25 (144A)		340,000		338,912
4.375%, 10/15/28 (144A) (b)		1,810,000		1,803,714
Tenet Healthcare Corp. 6.000%, 10/01/20		75,000		77,344
UnitedHealth Group, Inc. 3.500%, 06/15/23		280,000		280,511
3.750%, 07/15/25		240,000		241,054
4.250%, 04/15/47		110,000		110,195
4.250%, 06/15/48		160,000		159,740
4.750%, 07/15/45		130,000		138,912
				6,313,292
Home Builders—0.0%
Lennar Corp. 4.750%, 11/29/27		125,000		120,313
PulteGroup, Inc. 5.500%, 03/01/26		60,000		59,700
Toll Brothers Finance Corp. 4.875%, 11/15/25		130,000		127,725
				307,738
Insurance—0.4%
American International Group, Inc. 3.375%, 08/15/20		1,138,000		1,138,656
Assurant, Inc. 3.624%, 3M LIBOR + 1.250%, 03/26/21 (e)		3,285,000		3,291,312
CNO Financial Group, Inc. 5.250%, 05/30/25		175,000		178,937
Genworth Holdings, Inc. 4.900%, 08/15/23		90,000		77,850
Massachusetts Mutual Life Insurance Co. 8.875%, 06/01/39 (144A)		67,000		102,775
MGIC Investment Corp. 5.750%, 08/15/23		90,000		94,050
Principal Life Global Funding II 2.200%, 04/08/20 (144A)		530,000		522,483
Willis North America, Inc. 3.600%, 05/15/24		210,000		204,008
				5,610,071
Internet—0.2%
Alibaba Group Holding, Ltd. 3.400%, 12/06/27		810,000		754,643
4.200%, 12/06/47		200,000		182,086
Amazon.com, Inc. 2.800%, 08/22/24		155,000		149,677
3.875%, 08/22/37		600,000		586,611

Security Description	Principal Amount*		Value
Internet—(Continued)
Tencent Holdings, Ltd. 2.985%, 01/19/23 (144A)		530,000	$	513,239
3.595%, 01/19/28 (144A)		250,000		236,525
				2,422,781
Iron/Steel—0.1%
ArcelorMittal 6.125%, 06/01/25		110,000		119,513
Commercial Metals Co. 5.375%, 07/15/27		60,000		56,400
Steel Dynamics, Inc. 4.125%, 09/15/25		165,000		158,020
5.500%, 10/01/24		65,000		66,511
Vale Overseas, Ltd. 6.250%, 08/10/26		845,000		926,035
6.875%, 11/10/39		75,000		87,863
				1,414,342
Leisure Time—0.0%
VOC Escrow, Ltd. 5.000%, 02/15/28 (144A)		30,000		28,831
Machinery-Construction & Mining—0.0%
BWX Technologies, Inc. 5.375%, 07/15/26 (144A)		30,000		30,113
Oshkosh Corp. 5.375%, 03/01/25		75,000		77,250
				107,363
Media—0.7%
21st Century Fox America, Inc. 6.150%, 03/01/37		475,000		592,314
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125%, 05/01/27 (144A)		15,000		14,222
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.464%, 07/23/22		655,000		665,852
4.908%, 07/23/25		145,000		147,168
5.750%, 04/01/48		480,000		479,704
6.484%, 10/23/45		1,245,000		1,336,656
Comcast Corp. 2.350%, 01/15/27		65,000		57,157
3.150%, 03/01/26		405,000		382,216
3.200%, 07/15/36		100,000		83,334
4.049%, 11/01/52		395,000		348,622
COX Communications, Inc. 3.150%, 08/15/24 (144A)		725,000		686,907
4.800%, 02/01/35 (144A)		25,000		23,305
Discovery Communications LLC 3.800%, 03/13/24		364,000		356,923
3.950%, 06/15/25 (144A)		217,000		211,665
4.900%, 03/11/26		190,000		194,917
DISH DBS Corp. 5.875%, 11/15/24 (b)		130,000		116,837

BHFTII-111

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Liberty Interactive LLC 8.250%, 02/01/30 (b)		130,000	$	138,619
TEGNA, Inc. 6.375%, 10/15/23		5,000		5,162
Time Warner Cable LLC 4.500%, 09/15/42		400,000		340,912
7.300%, 07/01/38		45,000		51,481
8.250%, 04/01/19		231,000		236,907
Time Warner, Inc. 3.875%, 01/15/26		70,000		67,892
Viacom, Inc. 4.250%, 09/01/23		1,190,000		1,198,802
4.375%, 03/15/43		203,000		176,892
4.850%, 12/15/34		57,000		53,849
5.875%, 3M LIBOR + 3.895%, 02/28/57 (e)		10,000		9,785
6.250%, 3M LIBOR + 3.899%, 02/28/57 (e)		15,000		14,756
Videotron, Ltd. 5.375%, 06/15/24 (144A)		145,000		148,987
Warner Media LLC 2.950%, 07/15/26		70,000		63,437
3.800%, 02/15/27		520,000		497,117
				8,702,397
Mining—0.1%
Anglo American Capital plc 3.750%, 04/10/22 (144A)		200,000		197,434
4.125%, 09/27/22 (144A)		600,000		599,709
4.750%, 04/10/27 (144A)		200,000		194,889
FMG Resources August 2006 Pty, Ltd. 5.125%, 05/15/24 (144A)		60,000		58,245
Glencore Funding LLC 3.699%, 3M LIBOR + 1.360%, 01/15/19 (e)		50,000		50,085
Kaiser Aluminum Corp. 5.875%, 05/15/24		140,000		143,108
				1,243,470
Miscellaneous Manufacturing—0.0%
Ingersoll-Rand Global Holding Co., Ltd. 2.900%, 02/21/21		275,000		271,764
Office/Business Equipment—0.0%
Pitney Bowes, Inc. 4.700%, 04/01/23		405,000		367,644
Oil & Gas—0.4%
Anadarko Petroleum Corp. 3.450%, 07/15/24		425,000		409,020
4.500%, 07/15/44		5,000		4,573
Andeavor 3.800%, 04/01/28		190,000		180,577
Antero Resources Corp. 5.625%, 06/01/23		60,000		61,425
Canadian Natural Resources, Ltd. 3.850%, 06/01/27 (b)		715,000		695,986

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Continental Resources, Inc. 4.900%, 06/01/44 (b)		10,000	$	9,858
5.000%, 09/15/22		44,000		44,638
Encana Corp. 3.900%, 11/15/21		300,000		301,270
Hess Corp. 4.300%, 04/01/27		365,000		353,748
6.000%, 01/15/40		10,000		10,367
Kerr-McGee Corp. 6.950%, 07/01/24		400,000		450,334
Marathon Oil Corp. 3.850%, 06/01/25		130,000		127,027
MEG Energy Corp. 6.500%, 01/15/25 (144A) (b)		65,000		64,350
Petroleos Mexicanos 6.750%, 09/21/47		396,000		377,859
Phillips 66 3.900%, 03/15/28		315,000		310,530
QEP Resources, Inc. 5.250%, 05/01/23		80,000		77,900
SM Energy Co. 6.125%, 11/15/22		55,000		56,650
6.750%, 09/15/26 (b)		15,000		15,581
Sunoco LP / Sunoco Finance Corp. 5.500%, 02/15/26 (144A)		60,000		57,960
Tullow Oil plc 7.000%, 03/01/25 (144A)		500,000		487,500
Valero Energy Corp. 3.400%, 09/15/26		350,000		332,159
WPX Energy, Inc. 5.250%, 09/15/24		125,000		125,853
YPF S.A. 16.500%, 05/09/22 (144A) (ARS) (o)		19,392,845		294,941
				4,850,106
Packaging & Containers—0.0%
Owens-Brockway Glass Container, Inc. 5.875%, 08/15/23 (144A)		150,000		154,312
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC 5.125%, 07/15/23 (144A)		75,000		74,588
				228,900
Pharmaceuticals—0.8%
Allergan Funding SCS 3.450%, 03/15/22		245,000		243,442
Bausch Health Cos., Inc. 7.000%, 03/15/24 (144A)		30,000		31,695
Bayer U.S. Finance LLC 4.250%, 12/15/25 (144A)		850,000		843,603
Cardinal Health, Inc. 2.616%, 06/15/22		440,000		420,680
CVS Health Corp. 2.800%, 07/20/20		3,196,000		3,164,802
3.125%, 03/09/20		775,000		775,046
3.875%, 07/20/25		324,000		319,097

BHFTII-112

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
CVS Health Corp.
4.100%, 03/25/25		815,000	$	812,468
5.050%, 03/25/48		345,000		352,468
5.125%, 07/20/45		315,000		323,432
Elanco Animal Health, Inc. 3.912%, 08/27/21 (144A)		325,000		325,294
4.272%, 08/28/23 (144A)		310,000		310,848
GlaxoSmithKline Capital plc 3.125%, 05/14/21		150,000		149,761
GlaxoSmithKline Capital, Inc. 3.625%, 05/15/25		620,000		618,718
Mylan NV 3.150%, 06/15/21		220,000		216,560
3.750%, 12/15/20		325,000		325,215
3.950%, 06/15/26		213,000		201,494
Mylan, Inc. 4.550%, 04/15/28 (144A)		240,000		233,216
5.200%, 04/15/48 (144A)		125,000		115,557
Shire Acquisitions Investments Ireland DAC 2.400%, 09/23/21		355,000		342,983
Valeant Pharmaceuticals International, Inc. 6.500%, 03/15/22 (144A)		65,000		67,600
				10,193,979
Pipelines—0.3%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 4.250%, 12/01/27		415,000		405,267
6.250%, 10/15/22		41,000		42,127
DCP Midstream Operating L.P. 3.875%, 03/15/23		20,000		19,500
4.950%, 04/01/22		26,000		26,390
5.600%, 04/01/44		50,000		47,875
Enbridge Pipelines, Inc. 6.620%, 11/19/18 (CAD)		150,000		116,787
Energy Transfer Equity L.P. 5.500%, 06/01/27		120,000		124,536
Energy Transfer Partners L.P. 4.200%, 09/15/23		70,000		70,542
5.950%, 10/01/43		20,000		20,765
EQT Midstream Partners L.P. 4.750%, 07/15/23		215,000		217,961
5.500%, 07/15/28		270,000		276,839
MPLX L.P. 4.000%, 03/15/28		180,000		173,033
4.125%, 03/01/27		340,000		331,013
4.700%, 04/15/48		105,000		98,176
5.200%, 03/01/47		65,000		65,038
Sabine Pass Liquefaction LLC 4.200%, 03/15/28		50,000		48,478
Sunoco Logistics Partners Operations L.P. 5.300%, 04/01/44		35,000		33,502
5.350%, 05/15/45		35,000		34,077
Texas Eastern Transmission L.P. 2.800%, 10/15/22 (144A)		420,000		402,543
3.500%, 01/15/28 (144A)		100,000		94,405

Security Description	Principal Amount*		Value
Pipelines—(Continued)
TransCanada PipeLines, Ltd. 4.750%, 05/15/38		140,000	$	142,355
6.100%, 06/01/40		40,000		45,949
Transcontinental Gas Pipe Line Co. LLC 4.000%, 03/15/28		105,000		102,544
Valero Energy Partners L.P. 4.500%, 03/15/28		455,000		446,723
Western Gas Partners L.P. 4.500%, 03/01/28		460,000		441,020
4.750%, 08/15/28		25,000		24,434
5.500%, 08/15/48		25,000		23,529
Williams Cos., Inc. (The) 3.700%, 01/15/23		30,000		29,659
4.550%, 06/24/24		6,000		6,094
Williams Partners L.P. 4.300%, 03/04/24		105,000		105,906
				4,017,067
Real Estate Investment Trusts—0.1%
Crown Castle International Corp. 3.150%, 07/15/23		315,000		303,500
3.200%, 09/01/24		110,000		104,616
Equinix, Inc. 5.875%, 01/15/26		135,000		138,881
Starwood Property Trust, Inc. 4.750%, 03/15/25		65,000		62,245
				609,242
Retail—0.2%
Dollar Tree, Inc. 3.036%, 3M LIBOR + 0.700%, 04/17/20 (e)		90,000		90,137
Home Depot, Inc. (The) 3.500%, 09/15/56		220,000		191,538
Lowe’s Cos., Inc. 3.700%, 04/15/46		60,000		54,398
McDonald’s Corp. 3.350%, 04/01/23		380,000		376,690
Starbucks Corp. 3.800%, 08/15/25		265,000		263,169
4.000%, 11/15/28		160,000		159,464
Suburban Propane Partners L.P. / Suburban Energy Finance Corp. 5.875%, 03/01/27		75,000		71,250
Walmart, Inc. 3.400%, 06/26/23		1,080,000		1,083,613
				2,290,259
Semiconductors—0.2%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.375%, 01/15/20		960,000		948,737
3.125%, 01/15/25		155,000		143,943
3.625%, 01/15/24		1,285,000		1,246,185
Intel Corp. 4.100%, 05/19/46		185,000		182,597

BHFTII-113

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Semiconductors—(Continued)
Microchip Technology, Inc. 4.333%, 06/01/23 (144A)		380,000	$	377,558
				2,899,020
Software—0.2%
CDK Global, Inc. 5.875%, 06/15/26		5,000		5,164
Fidelity National Information Services, Inc. 4.250%, 05/15/28		195,000		195,273
First Data Corp. 5.000%, 01/15/24 (144A)		40,000		40,230
5.375%, 08/15/23 (144A)		90,000		91,373
Microsoft Corp. 3.700%, 08/08/46		330,000		316,244
3.950%, 08/08/56		400,000		390,620
MSCI, Inc. 5.250%, 11/15/24 (144A)		75,000		76,800
5.750%, 08/15/25 (144A)		65,000		68,102
Open Text Corp. 5.875%, 06/01/26 (144A)		15,000		15,478
Oracle Corp. 4.000%, 11/15/47		195,000		184,785
Quintiles IMS, Inc. 4.875%, 05/15/23 (144A)		95,000		95,475
salesforce.com, Inc. 3.250%, 04/11/23		250,000		248,129
3.700%, 04/11/28		170,000		168,439
				1,896,112
Telecommunications—0.7%
AT&T, Inc. 2.989%, 3M LIBOR + 0.650%, 01/15/20 (e)		155,000		155,698
4.100%, 02/15/28 (144A)		260,000		251,974
4.250%, 03/01/27		150,000		147,980
4.300%, 02/15/30 (144A)		801,000		769,780
4.750%, 05/15/46		545,000		497,161
5.150%, 03/15/42		164,000		158,081
Nokia Oyj 4.375%, 06/12/27		260,000		250,250
6.625%, 05/15/39 (b)		110,000		118,525
Sprint Communications, Inc. 7.000%, 03/01/20 (144A)		90,000		93,375
Sprint Corp. 7.125%, 06/15/24		100,000		103,875
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 5.152%, 03/20/28 (144A)		530,000		532,597
Telecom Italia Capital S.A. 6.000%, 09/30/34 (b)		45,000		42,953
7.721%, 06/04/38		50,000		53,000
Telecom Italia S.p.A. 5.303%, 05/30/24 (144A)		925,000		898,406
Telefonica Emisiones S.A.U. 4.665%, 03/06/38		150,000		140,747
4.895%, 03/06/48		335,000		311,539

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Verizon Communications, Inc. 2.860%, 3M LIBOR + 0.550%, 05/22/20 (e)		155,000	$	155,884
4.400%, 11/01/34		535,000		521,123
4.500%, 08/10/33		775,000		768,670
4.522%, 09/15/48		635,000		604,225
4.862%, 08/21/46		110,000		110,018
5.012%, 08/21/54		523,000		523,976
5.250%, 03/16/37		425,000		452,584
Vodafone Group plc 4.375%, 05/30/28		815,000		802,524
				8,464,945
Transportation—0.1%
CSX Corp. 3.250%, 06/01/27		620,000		587,216
FedEx Corp. 4.050%, 02/15/48		200,000		179,027
4.550%, 04/01/46		30,000		29,361
4.750%, 11/15/45		125,000		124,979
Union Pacific Corp. 4.375%, 09/10/38		700,000		710,970
				1,631,553
Trucking & Leasing—0.0%
DAE Funding LLC 4.500%, 08/01/22 (144A)		15,000		14,625
5.000%, 08/01/24 (144A)		15,000		14,681
				29,306
Total Corporate Bonds & Notes (Cost $152,272,886)				148,498,428
Asset-Backed Securities—8.2%
Asset-Backed - Automobile—0.2%
CIG Auto Receivables Trust 2.710%, 05/15/23 (144A)		192,099		190,792
Credit Acceptance Auto Loan Trust 2.650%, 06/15/26 (144A)		545,000		538,780
Honor Automobile Trust Securitization 2.940%, 11/15/19 (144A)		66,355		66,355
Skopos Auto Receivables Trust 3.190%, 09/15/21 (144A) (o)		657,325		656,720
Westlake Automobile Receivables Trust 3.280%, 12/15/22 (144A)		1,015,000		1,007,760
				2,460,407
Asset-Backed - Home Equity—0.2%
GSAA Home Equity Trust 2.266%, 1M LIBOR + 0.050%, 12/25/46 (e) (h)		89,484		62,731
2.316%, 1M LIBOR + 0.100%, 03/25/37 (e) (h)		935,400		473,776
2.456%, 1M LIBOR + 0.240%, 11/25/36 (e) (h)		269,558		158,587
2.516%, 1M LIBOR + 0.300%, 03/25/36 (e) (h)		978,468		723,699
5.985%, 06/25/36 (e) (h)		568,544		271,808

BHFTII-114

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Home Equity—(Continued)
Morgan Stanley ABS Capital, Inc. Trust 2.366%, 1M LIBOR + 0.150%, 06/25/36 (e) (h)		19,931	$	16,855
Renaissance Home Equity Loan Trust 6.120%, 11/25/36 (h) (t)		250,348		153,830
Soundview Home Loan Trust 2.466%, 1M LIBOR + 0.250%, 11/25/36 (e) (h)		485,000		450,593
				2,311,879
Asset-Backed - Other—7.8%
AMMC CLO, Ltd. 3.585%, 3M LIBOR + 1.250%, 07/25/29 (144A) (e)		1,340,000		1,339,849
Anchorage Capital CLO, Ltd. 3.849%, 3M LIBOR + 1.510%, 01/15/29 (144A) (e)		760,744		762,336
Apex Credit CLO, Ltd. 3.812%, 3M LIBOR + 1.470%, 04/24/29 (144A) (e)		1,315,000		1,317,702
Apidos CLO 3.322%, 3M LIBOR + 0.980%, 01/19/25 (144A) (e)		439,624		439,400
Atlas Senior Loan Fund, Ltd. 3.218%, 3M LIBOR + 0.870%, 04/20/28 (144A) (e)		1,375,000		1,366,199
3.429%, 3M LIBOR + 1.090%, 01/15/31 (144A) (e)		705,000		701,435
Avery Point CLO, Ltd. 3.435%, 3M LIBOR + 1.100%, 04/25/26 (144A) (e)		1,262,681		1,262,201
3.453%, 3M LIBOR + 1.120%, 01/18/25 (144A) (e)		752,149		751,764
Babson CLO, Ltd. 3.498%, 3M LIBOR + 1.150%, 07/20/25 (144A) (e)		340,000		339,833
Bain Capital Credit CLO, Ltd. 3.598%, 3M LIBOR + 1.250%, 07/20/30 (144A) (e)		815,000		817,399
Bayview Opportunity Master Fund Trust 2.981%, 10/28/32 (144A) (t)		418,025		416,007
3.352%, 11/28/32 (144A) (t)		343,332		341,716
3.500%, 01/28/55 (144A) (e)		635,293		631,035
3.500%, 06/28/57 (144A) (e)		746,214		741,654
3.500%, 07/28/57 (144A) (e)		1,464,831		1,451,509
3.500%, 10/28/57 (144A) (e)		1,373,577		1,359,695
3.500%, 01/28/58 (144A) (e)		990,081		981,482
3.598%, 02/25/33 (144A) (t)		362,301		359,675
4.000%, 11/28/53 (144A) (e)		559,388		560,991
4.000%, 10/28/64 (144A) (e)		1,058,372		1,060,647
Benefit Street Partners CLO, Ltd. 3.133%, 3M LIBOR + 0.800%, 10/18/29 (144A) (e)		156,250		156,172
3.589%, 3M LIBOR + 1.250%, 07/15/29 (144A) (e)		320,000		320,086
Carlyle Global Market Strategies CLO, Ltd. 3.117%, 3M LIBOR + 0.780%, 04/27/27 (144A) (e)		1,425,000		1,415,076
3.339%, 3M LIBOR + 1.000%, 01/15/31 (144A) (e)		1,395,000		1,387,175
CBAM, Ltd. 3.566%, 3M LIBOR + 1.230%, 10/17/29 (144A) (e)		1,665,000		1,666,364
Cent CLO, Ltd. 3.487%, 3M LIBOR + 1.150%, 07/27/30 (144A) (e)		930,000		929,519
3.753%, 3M LIBOR + 1.410%, 11/07/26 (144A) (e)		755,000		755,495
CIFC Funding, Ltd. 3.164%, 3M LIBOR + 1.050%, 04/24/30 (144A) (e)		1,580,000		1,574,901
3.189%, 3M LIBOR + 0.850%, 07/16/30 (144A) (e)		247,830		248,096
CLUB Credit Trust 2.610%, 01/15/24 (144A) (o)		604,719		601,588
Asset-Backed - Other—(Continued)
Conn Funding L.P. 2.730%, 07/15/20 (144A) (o)		40,841		40,835
Covenant Credit Partners CLO, Ltd. 4.189%, 3M LIBOR + 1.850%, 10/15/29 (144A) (e)		445,000		446,586
Domino’s Pizza Master Issuer LLC 4.116%, 07/25/48 (144A) (o)		698,250		693,858
Dryden Senior Loan Fund 3.134%, 3M LIBOR + 0.820%, 11/15/28 (144A) (e)		745,000		740,012
3.139%, 3M LIBOR + 0.800%, 07/15/30 (144A) (e)		548,000		547,726
3.248%, 3M LIBOR + 0.900%, 04/15/29 (144A) (e)		1,470,000		1,459,187
3.543%, 3M LIBOR + 1.210%, 07/18/30 (144A) (e)		1,280,000		1,280,252
3.769%, 3M LIBOR + 1.430%, 10/15/28 (144A) (e)		1,604,000		1,607,203
Finance America Mortgage Loan Trust 3.266%, 1M LIBOR + 1.050%, 09/25/33 (e) (h)		76,525		74,898
Flatiron CLO, Ltd. 3.564%, 3M LIBOR + 1.250%, 05/15/30 (144A) (e)		810,000		810,876
Fremont Home Loan Trust 3.266%, 1M LIBOR + 1.050%, 12/25/33 (e) (h)		69,531		68,211
GMACM Home Equity Loan Trust 2.716%, 1M LIBOR + 0.500%, 10/25/34 (144A) (e)		42,282		42,412
GreatAmerica Leasing Receivables Funding LLC 1.720%, 04/22/19 (144A)		11,555		11,549
Highbridge Loan Management, Ltd. 3.341%, 3M LIBOR + 1.000%, 02/05/31 (144A) (e)		415,000		413,126
KKR CLO, Ltd. 3.679%, 3M LIBOR + 1.340%, 04/15/29 (144A) (e)		1,260,000		1,261,288
KKR Financial CLO, Ltd. 3.629%, 3M LIBOR + 1.290%, 04/15/29 (144A) (e)		565,000		567,671
Knollwood CDO, Ltd. 4.355%, 3M LIBOR + 3.200%, 01/10/39 (144A) (c) (e) (i)		650,792		0
LCM, Ltd. 3.379%, 3M LIBOR + 1.040%, 10/20/27 (144A) (e)		1,075,000		1,075,000
Legacy Mortgage Asset Trust 4.000%, 03/25/58 (144A) (t)		1,650,762		1,646,329
Lendmark Funding Trust 2.830%, 12/22/25 (144A) (o)		680,000		676,140
3.260%, 04/21/25 (144A) (o)		875,000		875,886
Madison Park Funding, Ltd. 3.507%, 3M LIBOR + 1.160%, 07/23/29 (144A) (e)		1,341,000		1,340,853
3.608%, 3M LIBOR + 1.260%, 07/20/26 (144A) (e)		1,485,000		1,484,434
Magnetite, Ltd. 3.319%, 3M LIBOR + 0.980%, 04/15/31 (144A) (e)		795,000		792,445
3.335%, 3M LIBOR + 1.000%, 07/25/26 (144A) (e)		1,255,000		1,254,630
3.714%, 3M LIBOR + 1.400%, 11/15/28 (144A) (e)		1,522,000		1,522,269
3.835%, 3M LIBOR + 1.500%, 07/25/26 (144A) (e)		995,000		994,338
Marlette Funding Trust 2.360%, 12/15/24 (144A) (o)		278,200		277,208
MFRA Trust 3.352%, 11/25/47 (144A) (t)		1,553,527		1,537,544
Mill City Mortgage Loan Trust 3.500%, 08/25/58 (144A) (e)		1,050,000		1,038,825
Nationstar HECM Loan Trust 1.968%, 05/25/27 (144A)		104,924		104,723
2.038%, 09/25/27 (144A) (e)		216,337		214,782
2.942%, 05/25/27 (144A)		100,000		99,267

BHFTII-115

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Neuberger Berman CLO, Ltd. 3.139%, 3M LIBOR + 0.800%, 01/15/28 (144A) (e)		1,480,000	$	1,476,756
New Residential Advance Receivables Trust 2.575%, 10/15/49 (144A)		624,500		619,176
3.214%, 02/15/51 (144A)		1,065,000		1,054,078
New Residential Mortgage LLC 3.790%, 07/25/54 (144A)		1,575,180		1,574,132
NRZ Advance Receivables Trust 3.107%, 12/15/50 (144A)		1,195,000		1,180,413
NRZ Excess Spread-Collateralized Notes 3.193%, 01/25/23 (144A)		1,021,291		1,015,770
3.265%, 02/25/23 (144A)		632,847		629,002
Oak Hill Advisors Residential Loan Trust 3.000%, 06/25/57 (144A) (t)		441,012		434,362
Oak Hill Credit Partners, Ltd. 3.478%, 3M LIBOR + 1.130%, 07/20/26 (144A) (e)		455,000		455,043
OCP CLO, Ltd. 3.186%, 3M LIBOR + 0.850%, 04/17/27 (144A) (e)		1,230,000		1,226,738
3.710%, 3M LIBOR + 1.400%, 11/22/25 (144A) (e)		901,182		901,679
Octagon Investment Partners, Ltd. 3.212%, 3M LIBOR + 0.900%, 05/21/27 (144A) (e)		489,000		488,423
3.668%, 3M LIBOR + 1.320%, 03/17/30 (144A) (e)		725,000		728,275
OHA Loan Funding, Ltd. 3.350%, 3M LIBOR + 1.040%, 05/23/31 (144A) (e)		695,000		692,779
OneMain Financial Issuance Trust 2.370%, 09/14/32 (144A)		1,648,000		1,619,760
4.100%, 03/20/28 (144A)		828,991		833,364
OZLM Funding, Ltd. 3.247%, 3M LIBOR + 0.900%, 07/22/29 (144A) (e)		125,000		125,078
3.597%, 3M LIBOR + 1.250%, 10/22/30 (144A) (e)		1,205,000		1,205,512
OZLM, Ltd. 3.241%, 3M LIBOR + 1.050%, 04/30/27 (144A) (e)		1,360,000		1,357,927
3.346%, 3M LIBOR + 1.010%, 07/17/29 (144A) (e)		335,000		333,643
Palmer Square Loan Funding, Ltd. Zero Coupon, -1 x 3M LIBOR + 1.450%, 11/15/26 (144A) (e)		735,000		735,000
Pretium Mortgage Credit Partners LLC 3.327%, 12/30/32 (144A) (e)		178,518		177,554
3.375%, 01/27/33 (144A) (t)		254,842		252,299
Prosper Marketplace Issuance Trust 2.360%, 11/15/23 (144A)		254,466		253,762
PRPM LLC 4.000%, 08/25/23 (144A) (e)		1,018,119		1,009,998
Regional Management Issuance Trust 3.830%, 07/15/27 (144A) (o)		950,000		947,118
SBA Tower Trust 2.898%, 10/15/44 (144A) (t)		845,000		843,321
Seneca Park CLO, Ltd. 3.456%, 3M LIBOR + 1.120%, 07/17/26 (144A) (e)		1,095,000		1,094,440
Shackleton CLO, Ltd. 3.356%, 3M LIBOR + 1.020%, 07/17/28 (144A) (e)		1,100,000		1,094,918
SoFi Consumer Loan Program LLC 2.500%, 05/26/26 (144A)		331,920		327,941
2.770%, 05/25/26 (144A)		168,954		167,410
3.090%, 10/27/25 (144A) (o)		308,860		307,932
3.280%, 01/26/26 (144A) (o)		276,007		275,639

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Sound Point CLO, Ltd. 3.238%, 3M LIBOR + 0.890%, 01/20/28 (144A) (e)		1,440,000	$	1,434,299
3.354%, 3M LIBOR + 1.000%, 04/15/31 (144A) (e)		1,435,000		1,425,899
3.651%, 3M LIBOR + 1.150%, 04/18/31 (144A) (e)		1,125,000		1,123,215
3.737%, 3M LIBOR + 1.390%, 01/23/29 (144A) (e)		505,000		505,554
Springleaf Funding Trust 2.680%, 07/15/30 (144A)		1,705,000		1,670,808
2.900%, 11/15/29 (144A)		1,225,000		1,221,704
SPS Servicer Advance Receivables Trust 2.750%, 11/15/49 (144A)		1,020,000		1,013,712
Symphony CLO, Ltd. 3.619%, 3M LIBOR + 1.280%, 07/14/26 (144A) (e)		1,295,000		1,295,843
3.847%, 1M LIBOR + 1.750%, 01/09/23 (144A) (e)		1,024,986		1,025,053
Towd Point Mortgage Trust 2.750%, 02/25/55 (144A) (e)		172,410		169,748
2.750%, 08/25/55 (144A) (e)		626,296		613,752
2.750%, 04/25/57 (144A) (e)		455,443		446,960
2.750%, 06/25/57 (144A) (e)		1,233,999		1,199,432
2.816%, 1M LIBOR + 0.600%, 02/25/57 (144A) (e)		1,202,683		1,203,761
3.000%, 03/25/54 (144A) (e)		40,496		40,184
Treman Park CLO, Ltd. 3.718%, 3M LIBOR + 1.370%, 04/20/27 (144A) (e)		1,300,000		1,299,809
U.S. Residential Opportunity Fund Trust 3.352%, 11/27/37 (144A) (t)		479,314		475,148
Vericrest Opportunity Loan Trust LLC 3.000%, 10/25/47 (144A) (t)		657,906		650,552
3.125%, 09/25/47 (144A) (t)		276,113		272,816
3.250%, 06/25/47 (144A) (o) (t)		272,720		270,908
3.375%, 10/25/47 (144A) (t)		1,283,370		1,275,540
4.115%, 09/25/48 (144A) (t)		840,000		839,697
4.336%, 05/25/48 (144A) (t)		748,828		747,179
Vibrant CLO, Ltd. 3.578%, 3M LIBOR + 1.240%, 06/20/29 (144A) (e)		1,515,000		1,516,280
Voya CLO, Ltd. 3.233%, 3M LIBOR + 0.900%, 01/18/29 (144A) (e)		1,610,000		1,603,922
3.583%, 3M LIBOR + 1.250%, 01/18/29 (144A) (e)		440,000		433,814
Wendys Funding LLC 3.884%, 03/15/48 (144A) (o)		431,738		414,421
				100,686,616
Total Asset-Backed Securities (Cost $106,724,308)				105,458,902
Mortgage-Backed Securities—3.9%
Collateralized Mortgage Obligations—2.2%
Adjustable Rate Mortgage Trust 2.716%, 1M LIBOR + 0.500%, 01/25/36 (e)		172,031		164,753
2.756%, 1M LIBOR + 0.540%, 11/25/35 (e)		178,850		177,520
Angel Oak Mortgage Trust LLC 2.478%, 07/25/47 (144A) (e)		454,101		446,220
2.708%, 11/25/47 (144A) (e)		366,417		363,907
2.810%, 01/25/47 (144A) (e)		99,653		98,838
Bear Stearns Adjustable Rate Mortgage Trust 4.001%, 07/25/36 (e)		378,814		341,548

BHFTII-116

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Bear Stearns ALT-A Trust 2.696%, 1M LIBOR + 0.480%, 02/25/36 (e)		685,280	$	650,291
Bear Stearns Mortgage Funding Trust 2.396%, 1M LIBOR + 0.180%, 10/25/36 (e)		198,643		183,187
2.416%, 1M LIBOR + 0.200%, 02/25/37 (e)		624,919		639,761
CIM Trust 3.000%, 04/25/57 (144A) (e)		1,357,447		1,340,693
Civic Mortgage LLC 3.892%, 06/25/22 (144A) (t)		329,585		329,593
COLT Mortgage Loan Trust 2.415%, 10/25/47 (144A) (e)		913,437		907,215
2.614%, 05/27/47 (144A) (e)		337,719		335,150
2.800%, 12/26/46 (144A) (e)		175,091		173,914
2.930%, 02/25/48 (144A) (e)		466,950		464,558
Countrywide Alternative Loan Trust 2.666%, 1M LIBOR + 0.450%, 04/25/35 (e)		259,260		237,844
2.756%, 1M LIBOR + 0.540%, 01/25/36 (e)		134,293		127,746
3.016%, 1M LIBOR + 0.800%, 12/25/35 (e)		180,113		158,225
3.195%, 12M MTA + 1.350%, 08/25/35 (e)		321,358		298,962
5.500%, 11/25/35		688,339		597,945
Countrywide Home Loan Mortgage Pass-Through Trust 2.416%, 1M LIBOR + 0.200%, 04/25/46 (e)		320,822		278,831
2.896%, 1M LIBOR + 0.680%, 02/25/35 (e)		139,551		136,708
3.733%, 06/20/35 (e)		19,427		19,556
3.925%, 09/25/47 (e)		504,700		471,783
Credit Suisse Mortgage Capital Certificates Trust 3.250%, 04/25/47 (144A) (e)		555,244		541,363
Deephaven Residential Mortgage Trust 2.453%, 06/25/47 (144A) (e)		333,658		331,376
2.577%, 10/25/47 (144A) (e)		413,555		409,904
2.725%, 12/26/46 (144A) (e)		187,506		186,805
3.789%, 08/25/58 (144A) (e)		1,565,000		1,565,985
Deutsche ALT-A Securities Mortgage Loan Trust 2.366%, 1M LIBOR + 0.150%, 12/25/36 (e)		399,835		368,747
Galton Funding Mortgage Trust 3.500%, 11/25/57 (144A) (e)		445,258		443,200
GreenPoint Mortgage Funding Trust 3.245%, 12M MTA + 1.400%, 10/25/45 (e)		240,442		209,219
GSR Mortgage Loan Trust 2.516%, 1M LIBOR + 0.300%, 01/25/37 (e)		751,857		432,670
3.751%, 01/25/36 (e)		526,793		522,073
6.000%, 07/25/37		277,999		251,305
IndyMac INDX Mortgage Loan Trust 4.073%, 10/25/35 (e)		42,546		40,653
JPMorgan Mortgage Trust 3.588%, 05/25/36 (e)		34,691		33,510
LSTAR Securities Investment, Ltd. 0.039%, -1 x 1M LIBOR + 1.750%, 10/01/22 (144A) (e)		466,596		464,517
3.654%, 1M LIBOR + 1.550%, 02/01/23 (144A) (e)		437,137		430,065
3.832%, 1M LIBOR + 1.750%, 09/01/22 (144A) (e)		309,172		309,365
3.906%, 1M LIBOR + 1.650%, 11/01/22 (144A) (e)		351,220		351,130
MASTR Adjustable Rate Mortgages Trust 3.898%, 09/25/33 (e)		86,179		85,375
4.416%, 11/21/34 (e)		120,030		123,153
Metlife Securitization Trust 3.750%, 03/25/57 (144A) (e)		892,483		888,222
Collateralized Mortgage Obligations—(Continued)
MFA Trust 2.588%, 02/25/57 (144A) (e)		343,989		336,423
Morgan Stanley Mortgage Loan Trust 3.993%, 05/25/36 (e)		220,646		169,212
New Residential Mortgage Loan Trust 3.750%, 11/26/35 (144A) (e)		928,934		927,500
4.000%, 02/25/57 (144A) (e)		1,649,657		1,654,493
4.000%, 03/25/57 (144A) (e)		1,666,969		1,676,418
4.000%, 04/25/57 (144A) (e)		1,364,963		1,370,921
4.000%, 05/25/57 (144A) (e)		1,106,242		1,111,580
Residential Accredit Loans, Inc. Trust 2.516%, 1M LIBOR + 0.300%, 04/25/36 (e)		573,354		531,256
6.000%, 12/25/35		268,491		257,901
RFMSI Trust 4.129%, 08/25/35 (e)		99,254		76,142
Structured Adjustable Rate Mortgage Loan Trust 0.490%, 1M LIBOR, 09/25/34 (e)		61,286		57,250
Verus Securitization Trust 3.677%, 06/01/58 (144A) (e)		1,245,857		1,245,751
WaMu Mortgage Pass-Through Certificates Trust 2.725%, 12M MTA + 0.880%, 10/25/46 (e)		256,906		241,386
3.565%, 06/25/37 (e)		151,831		141,815
Washington Mutual Mortgage Pass-Through Certificates 2.816%, 1M LIBOR + 0.600%, 07/25/36 (e)		115,014		80,810
Wells Fargo Mortgage-Backed Securities Trust 4.487%, 10/25/35 (e)		1,541,000		1,565,472
4.608%, 09/25/36 (e)		175,398		175,604
4.705%, 10/25/36 (e)		193,941		191,190
				28,744,509
Commercial Mortgage-Backed Securities—1.7%
BANK 0.886%, 11/15/50 (e) (f)		8,301,281		452,031
0.962%, 11/15/54 (e) (f)		995,925		57,699
Benchmark Mortgage Trust 0.666%, 01/15/51 (e) (f)		2,491,544		95,369
0.697%, 07/15/51 (e) (f)		4,471,461		171,999
Citigroup Commercial Mortgage Trust 1.187%, 07/10/47 (e) (f)		4,312,487		197,433
1.246%, 04/10/48 (e) (f)		4,867,249		244,387
3.458%, 08/15/50		675,000		656,466
Commercial Mortgage Pass-Through Certificates Mortgage Trust 0.871%, 08/10/46 (e) (f)		908,256		26,431
0.874%, 02/10/47 (e) (f)		3,554,320		81,647
1.941%, 10/15/45 (e) (f)		397,105		20,909
2.540%, 12/10/45		250,000		242,583
2.853%, 10/15/45		180,000		174,995
3.101%, 03/10/46		145,000		143,192
3.213%, 03/10/46		263,809		261,217
3.424%, 03/10/31 (144A)		1,065,000		1,071,522
3.612%, 06/10/46 (e)		260,000		261,595
3.620%, 07/10/50		130,000		129,471
3.694%, 08/10/47		395,000		395,925
Commercial Mortgage Pass-Through Certificates Mortgage Trust
3.796%, 08/10/47		225,000		227,667

BHFTII-117

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
3.961%, 03/10/47		235,125	$	239,003
4.074%, 02/10/47 (e)		115,000		118,118
4.205%, 08/10/46		100,035		103,273
4.210%, 08/10/46 (e)		175,000		180,774
4.236%, 02/10/47 (e)		190,000		196,557
4.726%, 10/15/45 (144A) (e) (o)		210,000		42,065
4.750%, 10/15/45 (144A) (e) (o)		355,000		174,262
Credit Suisse First Boston Mortgage Securities Corp. 4.877%, 04/15/37		19,660		19,412
CSAIL Commercial Mortgage Trust 0.951%, 06/15/57 (e) (f)		12,837,560		505,505
1.182%, 11/15/48 (e) (f)		1,139,537		55,421
1.958%, 01/15/49 (e) (f)		2,392,475		220,876
3.447%, 08/15/48		80,000		78,901
3.544%, 11/15/48		280,000		277,036
GS Mortgage Securities Corp. Trust 2.954%, 11/05/34 (144A)		1,200,000		1,168,720
3.633%, 06/05/31 (144A)		130,000		130,024
GS Mortgage Securities Trust 0.122%, 07/10/46 (e) (f)		11,262,927		44,894
1.506%, 08/10/44 (144A) (e) (f)		1,001,343		30,167
3.629%, 11/10/47		230,000		229,988
3.674%, 04/10/47 (144A) (o)		235,000		65,318
5.125%, 04/10/47 (144A) (e)		465,000		387,490
JPMBB Commercial Mortgage Securities Trust 0.929%, 09/15/47 (e) (f)		4,578,390		114,799
3.363%, 07/15/45		468,669		467,014
JPMorgan Chase Commercial Mortgage Securities Trust 2.733%, 10/15/45 (144A) (e) (o)		400,000		224,117
4.518%, 12/15/47 (144A) (e) (o)		130,000		105,740
Morgan Stanley Bank of America Merrill Lynch Trust 1.185%, 10/15/48 (e) (f)		873,232		48,855
1.255%, 12/15/47 (e) (f)		2,876,584		114,117
2.918%, 02/15/46		130,000		127,243
3.134%, 12/15/48		480,000		473,765
3.176%, 08/15/45		245,000		242,752
3.766%, 11/15/46		180,000		181,410
4.259%, 10/15/46 (e)		115,000		118,411
Morgan Stanley Capital Trust 1.610%, 06/15/50 (e) (f)		1,714,913		146,832
5.304%, 10/12/52 (144A) (e) (o)		135,000		11,414
5.326%, 07/15/49 (144A) (e) (o)		265,000		230,853
SFAVE Commercial Mortgage Securities Trust 3.872%, 01/05/43 (144A) (e)		150,000		142,249
UBS Commercial Mortgage Trust 1.299%, 08/15/50 (e) (f)		1,041,448		76,097
3.426%, 08/15/50		225,000		217,970
UBS-Barclays Commercial Mortgage Trust 1.683%, 02/15/50 (e) (f)		5,702,053		536,654
2.850%, 12/10/45		325,000		317,204
3.008%, 1M LIBOR + 0.850%, 08/15/36 (144A) (e)		1,802,000		1,802,000
3.091%, 08/10/49		645,000		636,539
3.185%, 03/10/46		240,000		237,425
3.244%, 04/10/46		300,119		297,161
VNDO Mortgage Trust 2.996%, 11/15/30 (144A)		1,105,000		1,087,607
Commercial Mortgage-Backed Securities—(Continued)
Wells Fargo Commercial Mortgage Trust 1.297%, 05/15/48 (e) (f)		3,847,997		189,563
1.305%, 09/15/57 (e) (f)		8,323,203		391,374
2.918%, 10/15/45		317,680		311,615
2.942%, 10/15/49		70,000		65,912
3.290%, 05/15/48		230,000		226,055
3.789%, 09/15/48		315,000		315,516
3.839%, 09/15/58		225,000		226,582
4.237%, 05/15/48 (e)		80,000		74,921
WF-RBS Commercial Mortgage Trust 1.456%, 03/15/47 (e) (f)		2,293,016		94,451
2.870%, 11/15/45		397,749		389,502
2.875%, 12/15/45		175,000		170,879
3.016%, 11/15/47 (144A) (o)		550,000		269,910
3.071%, 03/15/45		185,000		182,214
3.345%, 05/15/45		100,000		97,727
3.607%, 11/15/47		225,000		223,896
3.723%, 05/15/47		190,000		191,548
3.995%, 05/15/47		160,281		163,290
4.045%, 03/15/47		40,000		40,849
4.101%, 03/15/47		335,000		343,348
5.000%, 06/15/44 (144A) (e) (o)		105,000		73,398
5.769%, 04/15/45 (144A) (e)		255,000		258,452
				21,439,572
Total Mortgage-Backed Securities (Cost $52,158,885)				50,184,081
Floating Rate Loans (p)—0.9%
Aerospace/Defense—0.0%
TransDigm, Inc. Term Loan E, 4.742%, 1M LIBOR + 2.500%, 05/30/25		150,251		150,843
Auto Manufacturers—0.0%
Navistar International Corp. 1st Lien Term Loan B, 5.640%, 1M LIBOR + 3.500%, 11/06/24		99,500		100,058
Building Materials—0.0%
Pisces Midco, Inc. Term Loan, 6.087%, 3M LIBOR + 3.750%, 04/12/25		99,750		100,519
Quikrete Holdings, Inc. 1st Lien Term Loan, 4.992%, 1M LIBOR + 2.750%, 11/15/23		125,000		125,367
				225,886
Chemicals—0.0%
HB Fuller Co. Term Loan B, 4.165%, 1M LIBOR + 2.000%, 10/20/24		96,709		96,743
Univar, Inc. Term Loan B, 4.492%, 1M LIBOR + 2.250%, 07/01/24		91,159		91,488
				188,231

BHFTII-118

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Floating Rate Loans (p)—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—0.1%
Acosta Holdco, Inc. Term Loan, 5.492%, 1M LIBOR + 3.250%, 09/26/21		153,282	$	114,923
APX Group, Inc. Term Loan B, 7.323%, 3M LIBOR + 5.000%, 02/02/24		100,000		99,750
Blitz F18-675 GmbH Term Loan B2, 3.750%, EURIBOR + 3.750%, 07/31/25 (EUR)		100,000		117,134
BrightView Landscapes LLC 1st Lien Term Loan B, 4.688%, 1M LIBOR + 2.500%, 08/15/25		217,954		219,112
Financial & Risk Holdings, Inc. Term Loan, 10/01/25 (q)		105,000		104,897
Jaguar Holding Co. II Term Loan, 4.742%, 1M LIBOR + 2.500%, 08/18/22		130,331		130,575
Nets Holding A/S Term Loan B1E, 3.000%, EURIBOR + 3.000%, 02/06/25 (EUR)		88,194		102,757
PSAV Holdings LLC 1st Lien Term Loan, 5.570%, 3M LIBOR + 3.250%, 03/01/25		174,312		174,312
WEX, Inc. Term Loan B2, 4.492%, 1M LIBOR + 2.250%, 06/30/23		410,550		412,859
				1,476,319
Computers—0.0%
Tempo Acquisition LLC Term Loan, 5.242%, 1M LIBOR + 3.000%, 05/01/24		207,375		208,386
Cosmetics/Personal Care—0.0%
Coty, Inc. Term Loan B, 4.383%, 1M LIBOR + 2.250%, 04/07/25		189,301		187,526
Revlon Consumer Products Corp. Term Loan B, 5.810%, 3M LIBOR + 3.500%, 09/07/23		240,100		183,676
				371,202
Diversified Financial Services—0.0%
AlixPartners LLP Term Loan B, 4.992%, 1M LIBOR + 2.750%, 04/04/24		177,300		178,297
Energy Equipment & Services—0.0%
Seadrill Partners Finco LLC Term Loan B, 8.386%, 3M LIBOR + 6.000%, 02/21/21		104,100		98,874
Entertainment—0.0%
Golden Entertainment, Inc. 1st Lien Term Loan, 5.250%, 1M LIBOR + 3.000%, 10/20/24		168,725		169,775
Food—0.0%
Albertson’s LLC Term Loan B4, 4.992%, 1M LIBOR + 2.750%, 08/25/21		173,818		174,220
Post Holdings, Inc. Incremental Term Loan, 4.220%, 1M LIBOR + 2.000%, 05/24/24		162,938		163,162
				337,382

Security Description	Principal Amount*		Value
Food Products—0.0%
Hostess Brands LLC Term Loan, 4.492%, 1M LIBOR + 2.250%, 08/03/22		108,081	$	108,351
Healthcare-Products—0.0%
Lifescan Global Corp. 1st Lien Term Loan, 09/27/24 (q)		100,000		98,938
Healthcare-Services—0.1%
Envision Healthcare Corp. 1st Lien Term Loan, 09/26/25 (q)		115,000		114,712
Term Loan B, 5.250%, 1M LIBOR + 3.000%, 12/01/23		89,659		89,770
MPH Acquisition Holdings LLC Term Loan B, 5.136%, 3M LIBOR + 2.750%, 06/07/23		145,764		146,208
U.S. Renal Care, Inc. Term Loan B, 6.636%, 3M LIBOR + 4.250%, 12/31/22		252,850		247,003
				597,693
Insurance—0.1%
Asurion LLC Term Loan B4, 5.242%, 1M LIBOR + 3.000%, 08/04/22		308,623		311,565
Camelot UK Holdco, Ltd. Term Loan, 5.492%, 1M LIBOR + 3.250%, 10/03/23		107,814		108,122
Hub International, Ltd. Term Loan B, 5.335%, 3M LIBOR + 3.000%, 04/25/25		119,700		120,040
Sedgwick Claims Management Services, Inc. 1st Lien Term Loan, 4.992%, 1M LIBOR + 2.750%, 03/01/21		257,421		257,850
2nd Lien Term Loan, 8.010%, 1M LIBOR + 5.750%, 02/28/22		205,000		206,153
USI, Inc. Term Loan, 5.386%, 3M LIBOR + 3.000%, 05/16/24		103,950		104,098
				1,107,828
Internet—0.0%
Zayo Group LLC Incremental Term Loan, 4.492%, 1M LIBOR + 2.250%, 01/19/24		75,071		75,483
Internet & Direct Marketing Retail—0.0%
Lands’ End, Inc. Term Loan B, 5.492%, 1M LIBOR + 3.250%, 04/04/21		155,778		152,273
IT Services—0.0%
Blackhawk Network Holdings, Inc. 1st Lien Term Loan, 5.386%, 3M LIBOR + 3.000%, 06/15/25		99,750		100,509
Leisure Time—0.0%
Aristocrat Technologies, Inc. 1st Lien Term Loan, 4.098%, 3M LIBOR + 1.750%, 10/19/24		92,636		92,663
Delta 2 (LUX) S.a.r.l. Term Loan, 4.742%, 1M LIBOR + 2.500%, 02/01/24		241,686		239,964
				332,627

BHFTII-119

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Floating Rate Loans (p)—(Continued)

Security Description	Principal Amount*		Value
Life Sciences Tools & Services—0.0%
Syneos Health, Inc. Term Loan B, 4.242%, 1M LIBOR + 2.000%, 08/01/24		78,188	$	78,426
Lodging—0.0%
Boyd Gaming Corp. Term Loan B3, 4.417%, 1W LIBOR + 2.250%, 09/15/23		118,504		119,237
Caesars Entertainment Operating Co. Term Loan, 4.242%, 1M LIBOR + 2.000%, 10/06/24		158,800		158,885
Caesars Resort Collection LLC 1st Lien Term Loan B, 4.992%, 1M LIBOR + 2.750%, 12/22/24		110,456		111,176
Crown Finance U.S., Inc. Term Loan, 4.742%, 1M LIBOR + 2.500%, 02/28/25		99,500		99,452
				488,750
Machinery—0.0%
Circor International, Inc. 1st Lien Term Loan, 5.639%, 1M LIBOR + 3.500%, 12/11/24		104,213		104,929
Machinery-Construction & Mining—0.0%
Brookfield WEC Holdings, Inc. 1st Lien Term Loan, 5.992%, 1M LIBOR + 3.750%, 08/01/25		100,000		101,323
Machinery-Diversified—0.0%
Gardner Denver, Inc. Term Loan B, 4.992%, 1M LIBOR + 2.750%, 07/30/24		193,436		194,842
Media—0.0%
Mission Broadcasting, Inc. Term Loan B2, 4.604%, 1M LIBOR + 2.500%, 01/17/24		9,296		9,328
Nexstar Broadcasting, Inc. Term Loan B2, 4.604%, 1M LIBOR + 2.500%, 01/17/24		66,284		66,643
Numericable Group S.A. Term Loan B12, 5.846%, 1M LIBOR + 3.687%, 01/31/26		99,250		98,258
Univision Communications, Inc. Term Loan C5, 4.992%, 1M LIBOR + 2.750%, 03/15/24		147,184		143,347
				317,576
Miscellaneous Manufacturing—0.0%
CTC AcquiCo GmbH Term Loan B1, 3.000%, EURIBOR + 3.000%, 03/07/25 (EUR)		100,000		116,184
Office/Business Equipment—0.0%
Brand Energy & Infrastructure Services, Inc. Term Loan, 6.600%, 3M LIBOR + 4.250%, 06/21/24		148,125		149,236
Oil & Gas—0.1%
California Resources Corp. Second Out Term Loan, 12.617%, 1M LIBOR + 10.375%, 12/31/21		130,000		144,625
Fieldwood Energy LLC 1st Lien TL, 7.492%, 1M LIBOR + 5.250%, 04/11/22		249,780		251,966

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Foresight Energy LLC 1st Lien Term Loan, 7.992%, 1M LIBOR + 5.750%, 03/28/22		189,117	$	189,661
Paragon Offshore Finance Co. Term Loan B, 07/18/21 (c) (h) (i)		706		0
				586,252
Packaging & Containers—0.1%
Berry Global, Inc. Term Loan S, 3.936%, 3M LIBOR + 1.750%, 02/08/20		172,724		173,012
Flex Acquisition Co., Inc. 1st Lien Term Loan, 5.337%, 3M LIBOR + 3.000%, 12/29/23		98,750		98,843
Reynolds Group Holdings, Inc. Term Loan, 4.992%, 1M LIBOR + 2.750%, 02/05/23		253,702		255,147
				527,002
Pharmaceuticals—0.1%
Change Healthcare Holdings LLC Term Loan B, 4.992%, 1M LIBOR + 2.750%, 03/01/24		170,625		171,383
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.500%, 1M LIBOR + 4.250%, 04/29/24		167,875		169,344
Valeant Pharmaceuticals International, Inc. Term Loan B, 5.104%, 1M LIBOR + 3.000%, 06/01/25		167,340		168,387
				509,114
Pipelines—0.0%
Energy Transfer Equity L.P. Term Loan B, 4.242%, 1M LIBOR + 2.000%, 02/02/24		277,617		278,060
Real Estate Investment Trusts—0.0%
VICI Properties 1 LLC Replacement Term Loan B, 4.212%, 1M LIBOR + 2.000%, 12/20/24		95,455		95,753
Retail—0.1%
Bass Pro Group LLC Term Loan B, 7.242%, 1M LIBOR + 5.000%, 09/25/24		148,500		150,194
Harbor Freight Tools USA, Inc. Term Loan B, 4.742%, 1M LIBOR + 2.500%, 08/18/23		115,837		116,070
J. Crew Group, Inc. Term Loan B, 5.320%, 3M LIBOR + 3.000%, 03/05/21 (c) (h) (i)		307,347		249,197
Neiman Marcus Group, Ltd. LLC Term Loan, 5.370%, 1M LIBOR + 3.250%, 10/25/20		222,667		207,126
Staples, Inc. Term Loan B, 6.343%, 3M LIBOR + 4.000%, 09/12/24		129,025		129,146
				851,733
Semiconductors—0.0%
Entegris, Inc. Term Loan B, 4.492%, 1M LIBOR + 2.250%, 04/30/21		115,949		116,529

BHFTII-120

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Floating Rate Loans (p)—(Continued)

Security Description	Principal Amount*		Value
Semiconductors & Semiconductor Equipment—0.0%
Microchip Technology, Inc. Term Loan B, 4.250%, 1M LIBOR + 2.000%, 05/29/25		91,100	$	91,270
Software—0.1%
Almonde, Inc. 1st Lien Term Loan, 5.886%, 3M LIBOR + 3.500%, 06/13/24		117,631		117,842
First Data Corp. Term Loan, 4.212%, 1M LIBOR + 2.000%, 07/08/22		441,613		442,413
Infor (U.S.), Inc. Term Loan B6, 5.136%, 3M LIBOR + 2.750%, 02/01/22		241,753		242,681
				802,936
Telecommunications—0.1%
CSC Holdings LLC 1st Lien Term Loan, 4.408%, 1M LIBOR + 2.250%, 07/17/25		106,928		107,039
Sprint Communications, Inc. 1st Lien Term Loan B, 4.750%, 1M LIBOR + 2.500%, 02/02/24		334,900		335,946
Telenet Financing USD LLC Term Loan AN, 08/15/26 (q)		100,000		99,667
				542,652
Transportation—0.0%
Savage Enterprises LLC 1st Lien Term Loan B, 6.600%, 1M LIBOR + 4.500%, 08/01/25		98,750		100,170
Total Floating Rate Loans (Cost $12,245,427)				12,131,692
Foreign Government—0.5%
Sovereign—0.5%
Abu Dhabi Government International Bond 4.125%, 10/11/47 (144A)		1,510,000		1,442,050
Argentine Republic Government International Bond 5.250%, 01/15/28 (EUR)		370,000		341,798
Egypt Government International Bond 8.500%, 01/31/47		200,000		200,432
Export-Import Bank of Korea 2.807%, 3M LIBOR + 0.460%, 10/21/19 (e)		200,000		200,143
Ghana Government International Bond 8.627%, 06/16/49 (144A)		400,000		400,000
Ireland Government Bond 4.500%, 10/18/18 (EUR)		430,000		500,200
Japan Bank for International Cooperation 2.801%, 3M LIBOR + 0.480%, 06/01/20 (e)		200,000		200,957
Panama Government International Bonds 4.300%, 04/29/53		532,000		512,050
4.500%, 04/16/50		200,000		198,302
Qatar Government International Bond 5.103%, 04/23/48 (144A)		600,000		624,000
Sovereign—(Continued)
Romanian Government International Bond 6.125%, 01/22/44		842,000		949,355
Saudi Government International Bonds 4.500%, 10/26/46		624,000		593,599
4.625%, 10/04/47 (144A)		500,000		481,650
Total Foreign Government (Cost $6,778,287)				6,644,536
Municipals—0.3%
Chicago Board of Education, General Obligation Unlimited, Build America Bonds 6.138%, 12/01/39		155,000		146,681
6.319%, 11/01/29		345,000		341,974
Chicago Transit Authority Transfer Tax Receipts Revenue 6.899%, 12/01/40		490,000		622,849
City of Chicago IL, General Obligation Unlimited 7.045%, 01/01/29		190,000		202,985
7.375%, 01/01/33		775,000		842,921
State of California General Obligation Unlimited, Build America Bonds 7.350%, 11/01/39		270,000		379,185
7.600%, 11/01/40		180,000		267,523
State of Illinois, General Obligation Unlimited 5.363%, 02/01/19		35,000		35,267
5.877%, 03/01/19		655,000		662,533
Total Municipals (Cost $3,566,930)				3,501,918
Short-Term Investments—1.9%
Commercial Paper—0.0%
AT&T, Inc. 2.986%, 05/28/19 (r)		250,000		245,222
Royal Bank of Canada New York 1.615%, 10/19/18 (CAD) (r)		200,000		154,691
				399,913
Foreign Government—0.5%
Egypt Treasury Bills 14.199%, 10/16/18 (EGP) (r)		10,500,000		582,322
15.808%, 03/05/19 (EGP) (r)		3,950,000		203,631
Italy Buoni Ordinari del Tesoro BOT Zero Coupon, 10/31/18		240,000		278,718
Japan Treasury Bills 0.00%, 10/09/18 (JPY) (r)		74,900,000		659,228
0.00%, 10/22/18 (JPY) (r)		210,950,000		1,856,754
0.00%, 10/29/18 (JPY) (r)		32,200,000		283,428
0.00%, 11/12/18 (JPY) (r)		102,050,000		898,302
0.00%, 12/03/18 (JPY) (r)		33,350,000		293,589
0.00%, 12/17/18 (JPY) (r)		154,250,000		1,357,974
Spain Letras del Tesoro Zero Coupon, 10/12/18		90,000		104,508
				6,518,454

BHFTII-121

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreement—1.4%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $17,771,071; collateralized by U.S. Treasury Note at 2.250%, maturing 10/31/24, with a market value of $18,127,512.		17,769,590	$	17,769,590
Total Short-Term Investments (Cost $24,811,417)				24,687,957
Securities Lending Reinvestments (s)—6.8%
Bank Note—0.2%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (e)		2,000,000		2,000,000
Certificates of Deposit—1.5%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (e)		2,000,000		1,999,966
Banco Santander S.A. 2.340%, 11/07/18		999,975		1,000,082
Bank of Montreal Zero Coupon, 10/31/18		1,995,737		1,996,125
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (e)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (e)		500,000		500,477
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (e)		500,000		499,899
Commonwealth Bank of Australia 2.487%, 3M LIBOR + 0.140%, 04/23/19 (e)		250,000		250,090
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (e)		500,000		500,020
Industrial & Commercial Bank of China, Ltd. 2.500%, 11/15/18		1,500,000		1,499,964
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (e)		1,000,000		999,967
Natixis S.A. New York 2.504%, 1M LIBOR + 0.370%, 02/14/19 (e)		1,500,000		1,501,003
Royal Bank of Canada New York 2.381%, 1M LIBOR + 0.250%, 01/11/19 (e)		500,000		500,165
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (e)		1,500,000		1,499,824
Sumitomo Mitsui Trust Bank, Ltd. 2.502%, 1M LIBOR + 0.320%, 11/21/18 (e)		2,000,000		2,000,000
Sumitomo Mitsui Trust Bank, Ltd., London 2.321%, 1M LIBOR + 0.190%, 04/11/19 (e)		1,500,000		1,499,929
Wells Fargo Bank N.A. 2.475%, 3M LIBOR + 0.140%, 10/26/18 (e)		500,000		500,083
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (e)		500,000		500,266
				19,247,856
Commercial Paper—0.7%
Bank of China, Ltd. 2.510%, 11/02/18		1,987,311		1,995,600
2.550%, 12/20/18		993,625		994,247

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (e)		2,500,000	$	2,501,277
Sheffield Receivables Co. 2.490%, 11/26/18		1,480,391		1,494,239
2.510%, SOFR + 0.350%, 11/28/18 (e)		500,000		500,137
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (e)		1,000,000		1,000,554
				8,486,054
Repurchase Agreements—3.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $368,643; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $357,000.		350,000		350,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,500,280; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $1,530,000.		1,500,000		1,500,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,000,187; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $1,020,001.		1,000,000		1,000,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,500,280; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $1,530,000.		1,500,000		1,500,000
Deutsche Bank AG, London Repurchase Agreement dated 08/24/18 at 2.560%, due on 10/01/18 with a maturity value of $5,013,511; collateralized by various Common Stock with an aggregate market value of $5,566,613.		5,000,000		5,000,000
Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $916,960; collateralized by various Common Stock with an aggregate market value of $1,001,990.		900,000		900,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $1,003,966; collateralized by various Common Stock with an aggregate market value of $1,111,246.		1,000,000		1,000,000
Macquaire Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,938,388; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,975,286.		1,938,033		1,938,033

BHFTII-122

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (s)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $1,484,199; collateralized by various Common Stock with an aggregate market value of $1,540,000.		1,400,000	$	1,400,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000		20,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $1,733,703; collateralized by various Common Stock with an aggregate market value of $1,891,514.		1,700,000		1,700,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $1,519,403; collateralized by various Common Stock with an aggregate market value of $1,668,983.		1,500,000		1,500,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $1,925,237; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,110,232.		1,900,000		1,900,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $2,430,646; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,665,556.		2,400,000		2,400,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,429,876; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,665,556.		2,400,000		2,400,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $2,428,798; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,665,556.		2,400,000		2,400,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $804,524; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519.		800,000		800,000
				47,688,033
Time Deposits—0.7%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		3,000,000		3,000,000

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Cooperative Rabobank UA New York 2.150%, 10/01/18		3,500,000	$	3,500,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		500,000		500,000
				9,000,000
Total Securities Lending Reinvestments (Cost $86,418,209)				86,421,943
Total Purchased Options—0.1% (u) (Cost $1,236,403)				1,180,668
Total Investments—117.1% (Cost $1,380,299,827)				1,508,865,815
Other assets and liabilities (net)—(17.1)%				(220,087,618	)
Net Assets—100.0%			$	1,288,778,197

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $83,648,956 and the collateral received consisted of cash in the amount of $86,395,072. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent less than 0.05% of net assets.
(d)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(e)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(f)	Interest only security.
(g)	Principal only security.
(h)	Illiquid security. As of September 30, 2018, these securities represent 0.4% of net assets.
(i)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(j)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2018, the market value of securities pledged was $3,191,234.
(k)	All or a portion of the security was pledged as collateral against open swap contracts. As of September 30, 2018, the market value of securities pledged was $1,747,051.
(l)	Principal amount of security is adjusted for inflation.
(m)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2018, the market value of securities pledged was $1,463,226.
(n)	Non-income producing; security is in default and/or issuer is in bankruptcy.

BHFTII-123

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

(o)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of September 30, 2018, the market value of restricted securities was $7,530,271, which is 0.6% of net assets. See details shown in the Restricted Securities table that follows.
(p)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(q)	This loan will settle after September 30, 2018, at which time the interest rate will be determined.
(r)	The rate shown represents current yield to maturity.
(s)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(t)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(u)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $164,168,806, which is 12.7% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
CLUB Credit Trust, 2.610%, 01/15/24		11/29/17	$	604,719	$	604,703	$	601,588
Commercial Mortgage Pass-Through Certificates Mortgage Trust, 4.750%, 10/15/45		02/18/15 - 02/16/17		355,000		256,041		174,262
Commercial Mortgage Pass-Through Certificates Mortgage Trust, 4.726%, 10/15/45		12/05/14 - 03/29/17		210,000		149,074		42,065
Conn Funding L.P., 2.730%, 07/15/20		12/12/17		40,841		40,839		40,835
Domino’s Pizza Master Issuer LLC, 4.116%, 07/25/48		04/18/18		698,250		698,250		693,858
GS Mortgage Securities Trust, 3.674%, 04/10/47		04/03/14		235,000		147,173		65,318
JPMorgan Chase Commercial Mortgage Securities Trust, 2.733%, 10/15/45		05/19/15		400,000		269,984		224,117
JPMorgan Chase Commercial Mortgage Securities Trust, 4.518%, 12/15/47		03/17/14		130,000		105,300		105,740
Lendmark Funding Trust, 3.260%, 04/21/25		10/26/16		875,000		874,901		875,886
Lendmark Funding Trust, 2.830%, 12/22/25		06/22/17		680,000		679,861		676,140
Marlette Funding Trust, 2.360%, 12/15/24		10/17/17		278,200		278,185		277,208
Morgan Stanley Capital Trust, 5.326%, 07/15/49		03/13/15		265,000		242,868		230,853
Morgan Stanley Capital Trust, 5.304%, 10/12/52		05/02/14		135,000		137,651		11,414
Regional Management Issuance Trust, 3.830%, 07/15/27		06/20/18		950,000		949,804		947,118
Skopos Auto Receivables Trust, 3.190%, 09/15/21		03/14/18		657,325		657,322		656,720
SoFi Consumer Loan Program LLC, 3.090%, 10/27/25		07/27/16		308,860		308,811		307,932
SoFi Consumer Loan Program LLC, 3.280%, 01/26/26		01/20/17		276,007		275,984		275,639
Vericrest Opportunity Loan Trust LLC, 3.250%, 06/25/47		06/09/17 - 06/29/18		272,720		272,720		270,908
WF-RBS Commercial Mortgage Trust, 5.000%, 06/15/44		03/27/14		105,000		94,365		73,398
WF-RBS Commercial Mortgage Trust, 3.016%, 11/15/47		11/05/14		550,000		362,270		269,910
Wendys Funding LLC, 3.884%, 03/15/48		12/06/17		431,738		431,737		414,421
YPF S.A., 16.500%, 05/09/22		05/04/17		19,392,845		1,264,168		294,941
							$	7,530,271

TBA Forward Sale Commitments

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Fannie Mae 15 Yr. Pool		2.500	%		TBA	$	(3,841,000	)	$	(3,717,968	)	$	(3,706,040	)
Fannie Mae 15 Yr. Pool		3.000	%		TBA		(13,622,000	)		(13,469,033	)		(13,454,651	)
Fannie Mae 15 Yr. Pool		4.500	%		TBA		(1,300,000	)		(1,311,781	)		(1,314,857	)
Fannie Mae 30 Yr. Pool		3.000	%		TBA		(17,204,000	)		(16,488,385	)		(16,462,953	)
Fannie Mae 30 Yr. Pool		4.500	%		TBA		(655,000	)		(677,823	)		(675,699	)
Fannie Mae 30 Yr. Pool		5.000	%		TBA		(2,370,000	)		(2,497,224	)		(2,487,944	)
Freddie Mac 30 Yr. Gold Pool		3.000	%		TBA		(1,075,000	)		(1,033,344	)		(1,028,368	)

BHFTII-124

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

TBA Forward Sale Commitments—(Continued)

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Freddie Mac 30 Yr. Gold Pool		5.500	%		TBA	$	(200,000	)	$	(212,906	)	$	(213,148	)
Ginnie Mae II 30 Yr. Pool		4.000	%		TBA		(1,463,000	)		(1,492,031	)		(1,487,717	)
Totals									$	(40,900,495	)	$	(40,831,377	)

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	205,000	HSBC		10/02/18		USD	156,385	$	(2,330	)
CAD	135,000	HSBC		10/09/18		USD	103,042		(1,496	)
CAD	200,000	BBP		10/19/18		USD	154,224		(679	)
CAD	65,000	CBNA		10/22/18		USD	50,376		29
CAD	270,000	HSBC		10/22/18		USD	208,648		(484	)
CAD	205,000	SSBT		11/15/18		USD	157,252		(1,606	)
CAD	150,000	CBNA		11/19/18		USD	115,404		(842	)
CAD	270,000	BNP		11/21/18		USD	205,402		(3,849	)
CAD	270,000	GSI		12/11/18		USD	207,191		(2,150	)
CAD	270,000	SSBT		02/19/19		USD	207,053		(2,579	)
EUR	90,000	BNP		10/12/18		USD	103,093		(1,484	)
EUR	120,000	CBNA		10/18/18		USD	141,370		1,870
EUR	310,000	JPMC		10/18/18		USD	365,230		4,854
EUR	3,604,000	HSBC		10/31/18		USD	4,246,370		52,469
EUR	240,000	JPMC		10/31/18		USD	283,662		4,379
EUR	369,000	SSBT		12/19/18		USD	430,467		(768	)
JPY	74,900,000	JPMC		10/09/18		USD	680,655		21,102
JPY	500,000,000	NAB		10/10/18		USD	4,470,229		67,020
JPY	210,950,000	MSIP		10/22/18		USD	1,891,353		32,039
JPY	32,200,000	CBNA		10/29/18		USD	291,685		7,731
JPY	102,050,000	JPMC		11/13/18		USD	927,660		26,763
JPY	33,350,000	CBNA		12/03/18		USD	302,505		7,665
JPY	154,250,000	JPMC		12/17/18		USD	1,388,129		22,411
Net Unrealized Appreciation								$	230,065

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Canada Government Bond 10 Year Futures		12/18/18		59			CAD	7,824,580		$	(4,941	)
S&P 500 Index E-Mini Futures		12/21/18		36			USD	5,254,200			(134	)
U.S. Treasury Long Bond Futures		12/19/18		39			USD	5,479,500			(151,174	)
U.S. Treasury Note 2 Year Futures		12/31/18		69			USD	14,540,672			4,280
U.S. Treasury Note 5 Year Futures		12/31/18		512			USD	57,588,000			(366,146	)
U.S. Treasury Note Ultra 10 Year Futures		12/19/18		31			USD	3,906,000			(53,830	)
U.S. Treasury Ultra Long Bond Futures		12/19/18		123			USD	18,976,594			(480,487	)
United Kingdom Long Gilt Bond Futures		12/27/18		39			GBP	4,716,660			5,913
Futures Contracts—Short
U.S. Treasury Note 10 Year Futures		12/19/18		(53	)		USD	(6,295,406	)		60,386
Net Unrealized Depreciation										$	(986,133	)

BHFTII-125

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Purchased Options

Interest Rate Swaptions	Strike Rate	Counterparty	Floating Rate Index	Pay/ Receive Floating Rate	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Call - OTC - 30 Year Interest Rate Swap	2.450%	BBP	3M LIBOR	Pay		08/02/27		2,300,000		USD	2,300,000	$	331,634	$	198,565	$	(133,069	)
Call - OTC - 30 Year Interest Rate Swap	2.450%	JPMC	3M LIBOR	Pay		08/02/27		600,000		USD	600,000		70,200		51,800		(18,400	)
Put - OTC - 10 Year Interest Rate Swap	3.200%	DBAG	3M LIBOR	Receive		05/30/19		12,605,000		USD	12,605,000		187,815		190,485		2,670
Put - OTC - 10 Year Interest Rate Swap	3.200%	BOA	3M LIBOR	Receive		05/30/19		8,825,000		USD	8,825,000		73,318		133,362		60,044
Put - OTC - 30 Year Interest Rate Swap	2.450%	BBP	3M LIBOR	Receive		08/02/27		2,300,000		USD	2,300,000		452,896		480,982		28,086
Put - OTC - 30 Year Interest Rate Swap	2.450%	JPMC	3M LIBOR	Receive		08/02/27		600,000		USD	600,000		120,540		125,474		4,934
Totals												$	1,236,403	$	1,180,668	$	(55,735	)

Swap Agreements

OTC Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency		Maturity Date		Counterparty	Notional Amount		Market Value		Upfront Premium Paid		Unrealized Appreciation
Receive	12M CPI		Maturity	2.004%		Maturity		01/15/23	DBAG	USD	7,825,000	$	121,512	$	3,081	$	118,431
Receive	CPI-U		Annually	1.810%		Annually		09/04/25	BOA	USD	3,803,000		143,814		—		143,814
Totals												$	265,326	$	3,081	$	262,245

Securities in the amount of $234,532 have been received at the custodian bank as collateral for open OTC swap contracts.

OTC Total Return Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Maturity Date

Counterparty

Underlying Reference Instrument

Notional Amount

Market Value

Upfront Premium Paid

Unrealized Depreciation

Receive

3M LIBOR

Quarterly

12/20/18

MSIP

Markit iBoxx USD Liquid High Yield Index

USD    4,860,000

$

(122,083

)

$

9,655

$

(131,738

)

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index		Payment Frequency		Fixed Rate			Payment Frequency		Maturity Date		Notional Amount		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Receive		1D FEDRC		Annually		1.625	%		Annually		11/14/26	USD	2,610,000	$	215,506		$	—		$	215,506
Receive		1D FEDRC		Annually		2.500	%		Annually		03/01/28	USD	3,400,000		71,766			11,289			60,477
Receive		3M LIBOR		Semi-Annually		2.000	%		Quarterly		03/21/23	USD	2,825,000		124,950			14,481			110,469
Receive		3M LIBOR		Semi-Annually		2.250	%		Quarterly		06/20/28	USD	22,048,000		1,598,751			1,228,985			369,766
Receive		3M LIBOR		Semi-Annually		2.750	%		Quarterly		12/20/47	USD	3,955,000		296,965			(89,207	)		386,172
Receive		3M LIBOR		Semi-Annually		3.000	%		Quarterly		04/30/25	USD	5,155,000		22,091			25,492			(3,401	)
Receive		3M LIBOR		Semi-Annually		3.002	%		Quarterly		06/18/28	USD	2,679,000		23,440			—			23,440
Receive		3M LIBOR		Semi-Annually		3.185	%		Quarterly		02/15/44	USD	741,000		(4,287	)		—			(4,287	)
Totals														$	2,349,182		$	1,191,040		$	1,158,142

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CDX.EM.30.V1		1.000	%		Quarterly		12/20/23		1.931	%		USD	1,510,000	$	(64,396	)	$	(72,853	)	$	8,457
CDX.NA.HY.30.V1		5.000	%		Quarterly		06/20/23		3.061	%		USD	10,319,000		806,419			697,156			109,263

BHFTII-126

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
CDX.NA.IG.30.V1		1.000	%		Quarterly		06/20/23		0.543	%		USD	3,040,000	$	60,581	$	58,145	$	2,436
ITRAXX.EUR.30.V1		1.000	%		Quarterly		12/20/23		0.682	%		EUR	5,120,000		96,772		98,471		(1,699	)
Totals														$	899,376	$	780,919	$	118,457

OTC Credit Default Swaps on Credit Indices—Buy Protection (a)

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)		Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
ABX.HE.PEN.AAA.06-2		(0.110	%)		Monthly		05/25/46	JPMC		0.000	%	USD	182,381	$	(19,025	)	$	25,261		$	(44,286	)
PRIMEX.ARM.2		(4.580	%)		Monthly		12/25/37	MSIP		0.000	%	USD	339,954		—			(735	)		735
Totals														$	(19,025	)	$	24,526		$	(43,551	)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
ABX.HE.PEN.AAA.06-2		0.110	%		Monthly		05/25/46	BBP		0.000	%		USD	182,381	$	(9,803	)	$	(4,957	)	$	(4,846	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	91,000		(19,000	)		(15,473	)		(3,527	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	265,000		(55,330	)		(39,508	)		(15,822	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	270,000		(56,374	)		(53,314	)		(3,060	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	460,000		(96,044	)		(85,670	)		(10,374	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	465,000		(97,088	)		(86,601	)		(10,487	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	465,000		(97,088	)		(86,601	)		(10,487	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	465,000		(97,088	)		(86,601	)		(10,487	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	645,000		(134,671	)		(135,820	)		1,149
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	GSI		0.000	%		USD	304,000		(63,473	)		(50,355	)		(13,118	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	GSI		0.000	%		USD	530,000		(110,660	)		(58,813	)		(51,847	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	MSIP		0.000	%		USD	190,000		(39,671	)		(35,385	)		(4,286	)
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	CSI		0.000	%		USD	550,000		(99,183	)		(156,166	)		56,983
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	GSI		0.000	%		USD	241,000		(43,460	)		(59,417	)		15,957
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	GSI		0.000	%		USD	580,000		(104,593	)		(181,510	)		76,917
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	MSIP		0.000	%		USD	1,289,000		(232,450	)		(365,997	)		133,547
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	CSI		0.000	%		USD	185,000		(21,817	)		(26,509	)		4,692
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	DBAG		0.000	%		USD	170,000		(20,048	)		(25,789	)		5,741
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	GSI		0.000	%		USD	660,000		(77,835	)		(74,951	)		(2,884	)
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	MSIP		0.000	%		USD	90,000		(10,614	)		(8,031	)		(2,583	)
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	MSIP		0.000	%		USD	830,000		(97,883	)		(124,759	)		26,876
PRIMEX.ARM.2		4.580	%		Monthly		12/25/37	JPMC		0.000	%		USD	339,954		—			10,208			(10,208	)
Totals															$	(1,584,173	)	$	(1,752,019	)	$	167,846

(a)

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

(b)

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

BHFTII-127

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

(c)

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

(d)

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

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(BNP)—	BNP Paribas S.A.
(BOA)—	Bank of America N.A.
(CBNA)—	Citibank N.A.
(CSI)—	Credit Suisse International
(DBAG)—	Deutsche Bank AG
(GSI)—	Goldman Sachs International
(HSBC)—	HSBC Bank plc
(JPMC)—	JPMorgan Chase Bank N.A.
(MSIP)—	Morgan Stanley & Co. International plc
(NAB)—	National Australia Bank Ltd.
(SSBT)—	State Street Bank and Trust

Currencies

(ARS)—	Argentine Peso
(EGP)—	Egyptian Pound
(CAD)—	Canadian Dollar
(EUR)—	Euro
(GBP)—	British Pound
(JPY)—	Japanese Yen
(USD)—	United States Dollar

Index Abbreviations

(ABX.HE.PEN)—	Markit Asset-Backed Home Equity Penultimate Index
(CDOR)—	Canadian Dollar Offered Rate
(CDX.EM)—	Markit Emerging Market CDS Index
(CDX.NA.HY)—	Markit North America High Yield CDS Index
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(CMBX)—	Commercial Mortgage-Backed Index
(CMBX.NA.BB)—	Markit North America BB Rated CMBS Index
(CMBX.NA.BBB-)—	Markit North America BBB- Rated CMBS Index
(CPI)—	U.S. Consumer Price Index
(CPI-U)—	U.S. Consumer Price Index for All Urban Consumers
(EURIBOR)—	Euro Interbank Offered Rate
(FEDEFF PRV)—	Effective Federal Funds Rate
(FEDRC)—	U.S. Federal Funds Rate Compounded
(ITRAXX.EUR)—	Markit iTraxx Europe Index
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(PRIMEX.ARM)—	Markit PrimeX Adjustable RateMortgage Index
(SOFR)—	Secured Overnight Financing Rate

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(ACES)—	Alternative Credit Enhancement Securities
(ADR)—	American Depositary Receipt
(CDO)—	Collateralized Debt Obligation
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

Fair Value Hierarchy

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

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

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

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

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

BHFTII-128

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	37,748,652	$	—	$	—	$	37,748,652
Air Freight & Logistics		835,060		—		—		835,060
Airlines		2,772,905		—		—		2,772,905
Banks		25,053,030		—		—		25,053,030
Beverages		13,674,473		—		—		13,674,473
Biotechnology		14,213,801		—		—		14,213,801
Capital Markets		20,984,123		—		—		20,984,123
Chemicals		16,840,697		—		—		16,840,697
Construction & Engineering		553,937		—		—		553,937
Construction Materials		771,595		—		—		771,595
Consumer Finance		9,386,794		—		—		9,386,794
Containers & Packaging		7,017,608		—		—		7,017,608
Diversified Financial Services		2,426,479		—		—		2,426,479
Diversified Telecommunication Services		12,746,489		—		—		12,746,489
Electric Utilities		19,072,199		—		—		19,072,199
Electrical Equipment		4,205,436		—		—		4,205,436
Electronic Equipment, Instruments & Components		5,165,396		—		—		5,165,396
Energy Equipment & Services		5,821,116		—		—		5,821,116
Entertainment		12,364,670		—		—		12,364,670
Equity Real Estate Investment Trusts		22,515,250		—		—		22,515,250
Food & Staples Retailing		9,919,341		—		—		9,919,341
Food Products		14,993,759		—		—		14,993,759
Health Care Equipment & Supplies		33,452,358		—		—		33,452,358
Health Care Providers & Services		21,205,478		—		—		21,205,478
Hotels, Restaurants & Leisure		11,837,371		—		—		11,837,371
Household Durables		1,006,395		—		—		1,006,395
Independent Power and Renewable Electricity Producers		4,713,485		—		—		4,713,485
Industrial Conglomerates		6,802,822		—		—		6,802,822
Insurance		31,978,437		—		—		31,978,437
Interactive Media & Services		30,872,272		—		—		30,872,272
Internet & Direct Marketing Retail		46,194,312		—		—		46,194,312
IT Services		34,715,239		—		—		34,715,239
Life Sciences Tools & Services		7,345,099		—		—		7,345,099
Machinery		11,979,923		—		—		11,979,923
Marine		604,455		—		—		604,455
Media		17,798,046		—		—		17,798,046
Metals & Mining		2,229,355		—		—		2,229,355
Multi-Utilities		5,356,032		—		—		5,356,032
Oil, Gas & Consumable Fuels		38,343,819		5,949		—		38,349,768
Personal Products		7,070,957		—		—		7,070,957
Pharmaceuticals		37,875,604		—		—		37,875,604
Professional Services		8,815,568		—		—		8,815,568
Road & Rail		7,195,102		—		—		7,195,102
Semiconductors & Semiconductor Equipment		35,024,737		—		—		35,024,737
Software		49,421,486		—		—		49,421,486
Specialty Retail		16,148,099		—		—		16,148,099
Technology Hardware, Storage & Peripherals		28,935,353		—		—		28,935,353
Textiles, Apparel & Luxury Goods		10,791,116		—		—		10,791,116
Thrifts & Mortgage Finance		1,528,041		—		—		1,528,041
Tobacco		18,373,785		—		—		18,373,785
Trading Companies & Distributors		646,908		—		—		646,908
Total Common Stocks		787,344,464		5,949		—		787,350,413
Total U.S. Treasury & Government Agencies*		—		281,729,819		1,075,458		282,805,277
Corporate Bonds & Notes
Aerospace/Defense		—		2,519,704		—		2,519,704
Agriculture		—		5,630,855		—		5,630,855

BHFTII-129

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Airlines	$	—	$	456,936	$	—	$	456,936
Auto Manufacturers		—		3,208,066		—		3,208,066
Auto Parts & Equipment		—		56,415		—		56,415
Banks		—		44,189,163		—		44,189,163
Beverages		—		3,361,420		—		3,361,420
Biotechnology		—		1,670,570		—		1,670,570
Building Materials		—		234,363		—		234,363
Chemicals		—		2,468,821		—		2,468,821
Commercial Services		—		2,716,255		—		2,716,255
Computers		—		1,229,862		—		1,229,862
Diversified Financial Services		—		2,201,162		—		2,201,162
Electric		—		8,170,371		—		8,170,371
Electronics		—		386,276		—		386,276
Engineering & Construction		—		1,736,375		—		1,736,375
Entertainment		—		508,397		—		508,397
Food		—		1,343,229		—		1,343,229
Food Service		—		122,500		—		122,500
Forest Products & Paper		—		200,800		—		200,800
Gas		—		94,288		—		94,288
Healthcare - Products		—		2,092,418		—		2,092,418
Healthcare - Services		—		6,313,292		—		6,313,292
Home Builders		—		307,738		—		307,738
Insurance		—		5,610,071		—		5,610,071
Internet		—		2,422,781		—		2,422,781
Iron/Steel		—		1,414,342		—		1,414,342
Leisure Time		—		28,831		—		28,831
Machinery - Construction & Mining		—		107,363		—		107,363
Media		—		8,702,397		—		8,702,397
Mining		—		1,243,470		—		1,243,470
Miscellaneous Manufacturing		—		271,764		—		271,764
Office/Business Equipment		—		367,644		—		367,644
Oil & Gas		—		4,850,106		—		4,850,106
Packaging & Containers		—		228,900		—		228,900
Pharmaceuticals		—		10,193,979		—		10,193,979
Pipelines		—		4,017,067		—		4,017,067
Real Estate Investment Trusts		—		609,242		—		609,242
Retail		—		2,290,259		—		2,290,259
Semiconductors		—		2,899,020		—		2,899,020
Software		—		1,896,112		—		1,896,112
Telecommunications		—		8,464,945		—		8,464,945
Transportation		—		1,631,553		—		1,631,553
Trucking & Leasing		—		29,306		—		29,306
Total Corporate Bonds & Notes		—		148,498,428		—		148,498,428
Total Asset-Backed Securities*		—		105,458,902		—		105,458,902
Total Mortgage-Backed Securities*		—		50,184,081		—		50,184,081
Floating Rate Loans
Aerospace/Defense		—		150,843		—		150,843
Auto Manufacturers		—		100,058		—		100,058
Building Materials		—		225,886		—		225,886
Chemicals		—		188,231		—		188,231
Commercial Services		—		1,476,319		—		1,476,319
Computers		—		208,386		—		208,386
Cosmetics/Personal Care		—		371,202		—		371,202
Diversified Financial Services		—		178,297		—		178,297
Energy Equipment & Services		—		98,874		—		98,874
Entertainment		—		169,775		—		169,775
Food		—		337,382		—		337,382
Food Products		—		108,351		—		108,351
Healthcare-Products		—		98,938		—		98,938

BHFTII-130

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3			Total
Healthcare-Services	$	—		$	597,693		$	—		$	597,693
Insurance		—			1,107,828			—			1,107,828
Internet		—			75,483			—			75,483
Internet & Direct Marketing Retail		—			152,273			—			152,273
IT Services		—			100,509			—			100,509
Leisure Time		—			332,627			—			332,627
Life Sciences Tools & Services		—			78,426			—			78,426
Lodging		—			488,750			—			488,750
Machinery		—			104,929			—			104,929
Machinery-Construction & Mining		—			101,323			—			101,323
Machinery-Diversified		—			194,842			—			194,842
Media		—			317,576			—			317,576
Miscellaneous Manufacturing		—			116,184			—			116,184
Office/Business Equipment		—			149,236			—			149,236
Oil & Gas		—			586,252			—			586,252
Packaging & Containers		—			527,002			—			527,002
Pharmaceuticals		—			509,114			—			509,114
Pipelines		—			278,060			—			278,060
Real Estate Investment Trusts		—			95,753			—			95,753
Retail		—			602,536			249,197			851,733
Semiconductors		—			116,529			—			116,529
Semiconductors & Semiconductor Equipment		—			91,270			—			91,270
Software		—			802,936			—			802,936
Telecommunications		—			542,652			—			542,652
Transportation		—			100,170			—			100,170
Total Floating Rate Loans		—			11,882,495			249,197			12,131,692
Total Foreign Government*		—			6,644,536			—			6,644,536
Total Municipals		—			3,501,918			—			3,501,918
Total Short-Term Investments*		—			24,687,957			—			24,687,957
Total Securities Lending Reinvestments*		—			86,421,943			—			86,421,943
Purchased Options at Value	$	—		$	1,180,668		$	—		$	1,180,668
Total Investments	$	787,344,464		$	720,196,696		$	1,324,655		$	1,508,865,815
Collateral for Securities Loaned (Liability)	$	—		$	(86,395,072	)	$	—		$	(86,395,072	)
TBA Forward Sales Commitments	$	—		$	(40,831,377	)	$	—		$	(40,831,377	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	248,332		$	—		$	248,332
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(18,267	)		—			(18,267	)
Total Forward Contracts	$	—		$	230,065		$	—		$	230,065
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	70,579		$	—		$	—		$	70,579
Futures Contracts (Unrealized Depreciation)		(1,056,712	)		—			—			(1,056,712	)
Total Futures Contracts	$	(986,133	)	$	—		$	—		$	(986,133	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	1,285,986		$	—		$	1,285,986
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(9,387	)		—			(9,387	)
Total Centrally Cleared Swap Contracts	$	—		$	1,276,599		$	—		$	1,276,599
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	265,326		$	—		$	265,326
OTC Swap Contracts at Value (Liabilities)		—			(1,696,453	)		(28,828	)		(1,725,281	)
Total OTC Swap Contracts	$	—		$	(1,431,127	)	$	(28,828	)	$	(1,459,955	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2018 is not presented.

Transfers from Level 3 to Level 2 in the amount of $3,955 were due to the initiation of trading activity which resulted in the availability of significant observable inputs.

BHFTII-131

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.0% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—9.5%
General Dynamics Corp.		516,607	$	105,759,785
Lockheed Martin Corp. (a)		310,302		107,352,080
Northrop Grumman Corp. (a)		302,529		96,013,628
United Technologies Corp.		519,954		72,694,769
				381,820,262
Air Freight & Logistics—2.1%
United Parcel Service, Inc. - Class B		729,162		85,129,664
Banks—2.4%
PNC Financial Services Group, Inc. (The)		702,872		95,724,138
Beverages—8.3%
Coca-Cola Co. (The)		2,650,784		122,439,713
Diageo plc		2,612,366		92,515,277
PepsiCo, Inc. (a)		1,072,735		119,931,773
				334,886,763
Biotechnology—1.6%
Amgen, Inc.		306,713		63,578,538
Capital Markets—1.8%
BlackRock, Inc.		149,701		70,558,572
Chemicals—4.4%
Ecolab, Inc. (a)		590,865		92,635,815
Praxair, Inc. (a)		518,661		83,364,382
				176,000,197
Consumer Finance—2.6%
American Express Co. (a)		968,633		103,149,728
Energy Equipment & Services—1.5%
Schlumberger, Ltd.		1,012,527		61,683,145
Equity Real Estate Investment Trusts—5.2%
American Tower Corp.		763,547		110,943,379
Public Storage (a)		480,332		96,849,341
				207,792,720
Food & Staples Retailing—2.9%
Costco Wholesale Corp.		497,592		116,874,409
Health Care Equipment & Supplies—6.5%
Baxter International, Inc.		708,185		54,593,982
Danaher Corp.		960,612		104,380,100
Medtronic plc		1,040,382		102,342,377
				261,316,459
Health Care Providers & Services—2.5%
UnitedHealth Group, Inc.		374,058		99,514,390
Hotels, Restaurants & Leisure—4.6%
McDonald’s Corp.		736,780		123,255,926
Starbucks Corp. (a)		1,101,474		62,607,782
				185,863,708

Security Description	Shares		Value
Household Products—4.0%
Colgate-Palmolive Co.		1,659,843	$	111,126,489
Procter & Gamble Co. (The)		615,705		51,245,127
				162,371,616
Industrial Conglomerates—3.8%
3M Co. (a)		285,914		60,244,939
Honeywell International, Inc.		554,141		92,209,062
				152,454,001
Insurance—4.8%
Chubb, Ltd.		800,977		107,042,566
Marsh & McLennan Cos., Inc.		1,061,582		87,814,063
				194,856,629
IT Services—6.4%
Accenture plc - Class A (a)		594,772		101,230,194
Automatic Data Processing, Inc.		341,345		51,427,038
Visa, Inc. - Class A		709,961		106,558,047
				259,215,279
Oil, Gas & Consumable Fuels—1.5%
Exxon Mobil Corp. (a)		732,070		62,240,591
Pharmaceuticals—4.3%
Johnson & Johnson		809,846		111,896,422
Merck & Co., Inc. (a)		871,553		61,827,970
				173,724,392
Road & Rail—6.0%
Canadian National Railway Co.		1,281,061		114,949,847
Union Pacific Corp.		772,867		125,845,934
				240,795,781
Software—3.4%
Microsoft Corp.		1,205,461		137,868,575
Specialty Retail—3.6%
TJX Cos., Inc. (The)		1,274,831		142,806,569
Textiles, Apparel & Luxury Goods—5.3%
NIKE, Inc. - Class B (a)		1,805,452		152,957,893
VF Corp. (a)		650,470		60,786,422
				213,744,315
Total Common Stocks (Cost $2,993,835,863)				3,983,970,441
Escrow Shares—0.0%
Forest Products & Paper—0.0%
Sino-Forest Corp. (b) (Cost $0)		5,844,000		0

BHFTII-132

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investment—1.0%

Security Description	Principal Amount*		Value
Repurchase Agreement—1.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $40,713,217; collateralized by U.S. Treasury Note at 2.375%, maturing 08/15/24, with a market value of $41,524,662.	$	40,709,824	$	40,709,824
Total Short-Term Investments (Cost $40,709,824)				40,709,824
Securities Lending Reinvestments (c)—8.1%
Certificates of Deposit—3.2%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		7,000,000		6,999,881
Banco Santander S.A. 2.340%, 11/07/18		2,000,000		2,000,164
Bank of Montreal Zero Coupon, 10/31/18		2,494,672		2,495,156
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		3,000,000		2,999,994
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (d)		6,000,000		6,005,724
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (d)		7,000,000		7,004,109
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (d)		7,000,000		7,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (d)		2,000,000		2,000,716
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		5,000,000		5,000,374
2.543%, 3M LIBOR + 0.200%, 04/05/19 (d)		2,000,000		2,001,532
Credit Industriel et Commercial (NY) Zero Coupon, 01/25/19		4,936,141		4,960,150
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,000,000		1,000,013
2.500%, 11/15/18		6,000,000		5,999,856
2.530%, 12/24/18		5,000,000		4,999,890
KBC Bank NV 2.400%, 12/27/18		10,000,000		10,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		20,000,000		20,000,040
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		3,969,950		3,970,777
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (d)		2,500,000		2,499,803
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (d)		7,000,000		6,999,181
2.551%, 1M LIBOR + 0.420%, 10/11/18 (d)		3,000,000		3,000,150
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		6,000,000		6,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (d)		3,500,000		3,500,417
2.554%, 1M LIBOR + 0.450%, 04/03/19 (d)		5,000,000		5,007,375
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (d)		4,000,000		4,000,456

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)	$	4,000,000	$	4,002,124
				129,447,882
Commercial Paper—1.0%
Bank of China, Ltd. 2.550%, 10/19/18		3,975,350		3,994,864
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (d)		12,000,000		12,006,132
Sheffield Receivables Co. 2.490%, 11/26/18		8,882,348		8,965,431
2.510%, SOFR + 0.350%, 11/28/18 (d)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		1,988,000		1,995,668
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		12,000,000		12,011,076
				39,473,308
Repurchase Agreements—3.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $1,510,708; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $684,623; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $663,000.		650,000		650,000
Deutsche Bank AG, London Repurchase Agreement dated 09/28/18 at 2.250%, due on 10/01/18 with a maturity value of $4,000,750; collateralized by Foreign Obligations with rates ranging from 1.750% - 2.375%, maturity dates ranging from 03/31/20 - 03/24/26, and an aggregate market value of $4,080,038.		4,000,000		4,000,000
Repurchase Agreement dated 08/24/18 at 2.560%, due on 10/01/18 with a maturity value of $10,027,022; collateralized by various Common Stock with an aggregate market value of $11,133,225.		10,000,000		10,000,000
Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $2,037,689; collateralized by various Common Stock with an aggregate market value of $2,226,645.		2,000,000		2,000,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $4,919,434; collateralized by various Common Stock with an aggregate market value of $5,445,105.		4,900,000		4,900,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $7,059,762; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $7,194,148.		7,058,468		7,058,468

BHFTII-133

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $7,792,967; collateralized by various Common Stock with an aggregate market value of $8,250,001.	$	7,500,000	$	7,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $52,024,974; collateralized by various Common Stock with an aggregate market value of $57,211,142.		52,000,000		52,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $8,974,460; collateralized by various Common Stock with an aggregate market value of $9,791,365.		8,800,000		8,800,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $8,103,480; collateralized by various Common Stock with an aggregate market value of $8,901,241.		8,000,000		8,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $9,828,840; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $10,773,289.		9,700,000		9,700,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $7,089,384; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,774,539.		7,000,000		7,000,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $12,048,135; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $13,216,716.		11,900,000		11,900,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $12,245,190; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $13,438,846.		12,100,000		12,100,000
				147,108,468
Time Deposits—0.2%
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		6,500,000		6,500,000

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Svenska Handelsbanken AB 2.140%, 10/01/18	$	1,000,000	$	1,000,000
				9,500,000
Total Securities Lending Reinvestments (Cost $325,489,829)				325,529,658
Total Investments— 108.1% (Cost $3,360,035,516)				4,350,209,923
Other assets and liabilities (net)—(8.1)%				(326,461,166	)
Net Assets—100.0%			$	4,023,748,757

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $318,691,336 and the collateral received consisted of cash in the amount of $325,354,928. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-134

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	381,820,262	$	—		$	—	$	381,820,262
Air Freight & Logistics		85,129,664		—			—		85,129,664
Banks		95,724,138		—			—		95,724,138
Beverages		242,371,486		92,515,277			—		334,886,763
Biotechnology		63,578,538		—			—		63,578,538
Capital Markets		70,558,572		—			—		70,558,572
Chemicals		176,000,197		—			—		176,000,197
Consumer Finance		103,149,728		—			—		103,149,728
Energy Equipment & Services		61,683,145		—			—		61,683,145
Equity Real Estate Investment Trusts		207,792,720		—			—		207,792,720
Food & Staples Retailing		116,874,409		—			—		116,874,409
Health Care Equipment & Supplies		261,316,459		—			—		261,316,459
Health Care Providers & Services		99,514,390		—			—		99,514,390
Hotels, Restaurants & Leisure		185,863,708		—			—		185,863,708
Household Products		162,371,616		—			—		162,371,616
Industrial Conglomerates		152,454,001		—			—		152,454,001
Insurance		194,856,629		—			—		194,856,629
IT Services		259,215,279		—			—		259,215,279
Oil, Gas & Consumable Fuels		62,240,591		—			—		62,240,591
Pharmaceuticals		173,724,392		—			—		173,724,392
Road & Rail		240,795,781		—			—		240,795,781
Software		137,868,575		—			—		137,868,575
Specialty Retail		142,806,569		—			—		142,806,569
Textiles, Apparel & Luxury Goods		213,744,315		—			—		213,744,315
Total Common Stocks		3,891,455,164		92,515,277			—		3,983,970,441
Total Escrow Shares*		—		—			0		0
Total Short-Term Investment*		—		40,709,824			—		40,709,824
Total Securities Lending Reinvestments*		—		325,529,658			—		325,529,658
Total Investments	$	3,891,455,164	$	458,754,759		$	0	$	4,350,209,923
Collateral for Securities Loaned (Liability)	$	—	$	(325,354,928	)	$	—	$	(325,354,928	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended September 30, 2018 is not presented.

BHFTII-135

Brighthouse Funds Trust II

Brighthouse Asset Allocation 20 Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.1%
Baillie Gifford International Stock Portfolio (Class A) (a)		658,997	$	8,468,108
BlackRock Bond Income Portfolio (Class A) (a)		697,003		70,975,849
BlackRock Capital Appreciation Portfolio (Class A) (a)		92,774		4,262,972
BlackRock High Yield Portfolio (Class A) (b)		371,712		2,839,881
Brighthouse Small Cap Value Portfolio (Class A) (b)		170,104		2,837,331
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		144,254		1,420,906
Brighthouse/Artisan International Portfolio (Class A) (b)		500,147		5,601,644
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		5,597		1,418,889
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		1,097,402		11,358,108
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		2,985,902		28,395,928
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		1,408,222		14,237,128
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		301,215		9,940,096
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		364,320		5,687,037
Clarion Global Real Estate Portfolio (Class A) (b)		249,104		2,842,277
Harris Oakmark International Portfolio (Class A) (b)		576,055		8,404,641
Invesco Comstock Portfolio (Class A) (b)		714,388		11,323,057
Jennison Growth Portfolio (Class A) (a)		247,072		4,264,458
JPMorgan Core Bond Portfolio (Class A) (b)		4,900,731		48,272,203
JPMorgan Small Cap Value Portfolio (Class A) (b)		163,542		2,839,089
MFS Research International Portfolio (Class A) (b)		337,597		4,216,587
MFS Value Portfolio (Class A) (a)		814,866		12,736,352
Neuberger Berman Genesis Portfolio (Class A) (a)		127,696		2,837,397
Affiliated Investment Companies—(Continued)
Oppenheimer Global Equity Portfolio (Class A) (b)		57,864		1,404,929
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		5,280,759		51,064,940
PIMCO Total Return Portfolio (Class A) (b)		6,050,717		68,191,578
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		176,870		4,260,804
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		261,002		8,500,832
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		120,969		1,418,961
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		162,160		4,264,808
TCW Core Fixed Income Portfolio (Class A) (b)		5,497,700		53,932,433
Van Eck Global Natural Resources Portfolio (Class A) (a)		707,965		7,100,890
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		2,201,815		28,403,413
Western Asset Management U.S. Government Portfolio (Class A) (a)		6,521,694		73,825,573
Total Mutual Funds (Cost $582,069,116)				567,549,099
Total Investments—100.1% (Cost $582,069,116)				567,549,099
Other assets and liabilities (net)—(0.1)%				(313,889	)
Net Assets—100.0%			$	567,235,210

(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	A Portfolio of Brighthouse Funds Trust I.
(c)	Non-income producing security.

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	567,549,099	$	—	$	—	$	567,549,099
Total Investments	$	567,549,099	$	—	$	—	$	567,549,099

BHFTII-136

Brighthouse Funds Trust II

Brighthouse Asset Allocation 40 Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		12,150,520	$	156,134,188
BlackRock Bond Income Portfolio (Class A) (a)		5,523,333		562,440,998
BlackRock Capital Appreciation Portfolio (Class A) (a)		2,259,430		103,820,804
BlackRock High Yield Portfolio (Class A) (b)		3,884,272		29,675,837
Brighthouse Small Cap Value Portfolio (Class A) (b)		2,627,985		43,834,789
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		5,648,451		55,637,240
Brighthouse/Artisan International Portfolio (Class A) (b)		10,302,541		115,388,461
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		57,905		14,680,688
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		11,469,477		118,709,084
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		18,700,143		177,838,362
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		17,582,955		177,763,672
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		6,710,996		221,462,866
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		8,556,048		133,559,917
Clarion Global Real Estate Portfolio (Class A) (b)		3,845,322		43,875,127
ClearBridge Aggressive Growth Portfolio (Class A) (b)		3,059,913		59,362,316
Harris Oakmark International Portfolio (Class A) (b)		11,537,105		168,326,360
Invesco Comstock Portfolio (Class A) (b)		12,027,548		190,636,629
Invesco Small Cap Growth Portfolio (Class A) (b)		1,853,577		29,416,271
Jennison Growth Portfolio (Class A) (a)		4,288,128		74,013,094
JPMorgan Core Bond Portfolio (Class A) (b)		39,069,554		384,835,105
JPMorgan Small Cap Value Portfolio (Class A) (b)		2,515,986		43,677,519
MFS Research International Portfolio (Class A) (b)		7,049,184		88,044,307
MFS Value Portfolio (Class A) (a)		14,944,748		233,586,404
Affiliated Investment Companies—(Continued)
Neuberger Berman Genesis Portfolio (Class A) (a)		1,313,013		29,175,156
Oppenheimer Global Equity Portfolio (Class A) (b)		2,413,311		58,595,193
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		36,670,679		354,605,470
PIMCO Total Return Portfolio (Class A) (b)		47,400,562		534,204,334
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		4,305,822		103,727,254
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		6,285,166		204,707,856
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		2,517,075		29,525,295
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		2,245,215		59,049,156
TCW Core Fixed Income Portfolio (Class A) (b)		45,259,395		443,994,663
Van Eck Global Natural Resources Portfolio (Class A) (a)		10,978,764		110,117,006
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		1,261,122		14,578,565
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		18,405,654		237,432,941
Western Asset Management U.S. Government Portfolio (Class A) (a)		41,891,537		474,212,193
Total Mutual Funds (Cost $5,808,372,039)				5,880,645,120
Total Investments—100.0% (Cost $5,808,372,039)				5,880,645,120
Other assets and liabilities (net)—0.0%				(1,727,139	)
Net Assets—100.0%			$	5,878,917,981

(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	A Portfolio of Brighthouse Funds Trust I.
(c)	Non-income producing security.

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	5,880,645,120	$	—	$	—	$	5,880,645,120
Total Investments	$	5,880,645,120	$	—	$	—	$	5,880,645,120

BHFTII-137

Brighthouse Funds Trust II

Brighthouse Asset Allocation 60 Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		35,263,815	$	453,140,027
BlackRock Bond Income Portfolio (Class A) (a)		8,696,117		885,525,619
BlackRock Capital Appreciation Portfolio (Class A) (a)		8,206,673		377,096,604
BlackRock High Yield Portfolio (Class A) (b)		10,745,696		82,097,116
Brighthouse Small Cap Value Portfolio (Class A) (b)		10,082,466		168,175,527
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		22,538,251		222,001,776
Brighthouse/Artisan International Portfolio (Class A) (b)		35,246,422		394,759,932
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		134,033		33,981,404
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		9,932,323		131,901,244
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		26,428,794		273,538,019
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		28,750,974		273,421,759
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		40,176,966		406,189,126
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		18,663,899		615,908,665
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		26,335,294		411,093,945
Clarion Global Real Estate Portfolio (Class A) (b)		17,776,117		202,825,496
ClearBridge Aggressive Growth Portfolio (Class A) (b)		19,470,841		377,734,314
Harris Oakmark International Portfolio (Class A) (b)		32,895,470		479,944,905
Invesco Comstock Portfolio (Class A) (b)		36,510,712		578,694,778
Invesco Small Cap Growth Portfolio (Class A) (b)		10,742,587		170,484,848
Jennison Growth Portfolio (Class A) (a)		25,834,314		445,900,252
JPMorgan Core Bond Portfolio (Class A) (b)		62,254,089		613,202,774
JPMorgan Small Cap Value Portfolio (Class A) (b)		5,786,359		100,451,196
Loomis Sayles Small Cap Growth Portfolio (Class A) (a)		4,161,989		68,131,760
MFS Research International Portfolio (Class A) (b)		21,714,774		271,217,523
Affiliated Investment Companies—(Continued)
MFS Value Portfolio (Class A) (a)		47,805,260		747,196,219
Neuberger Berman Genesis Portfolio (Class A) (a)		4,566,143		101,459,697
Oppenheimer Global Equity Portfolio (Class A) (b)		5,574,290		135,343,763
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		42,161,150		407,698,319
PIMCO Total Return Portfolio (Class A) (b)		72,753,974		819,937,283
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		15,632,475		376,586,332
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		18,744,764		610,516,958
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		8,732,110		102,427,647
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		7,793,390		204,966,152
TCW Core Fixed Income Portfolio (Class A) (b)		74,974,151		735,496,421
Van Eck Global Natural Resources Portfolio (Class A) (a)		37,568,057		376,807,611
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		2,916,312		33,712,562
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		21,193,488		273,395,995
Western Asset Management U.S. Government Portfolio (Class A) (a)		48,253,138		546,225,527
Total Mutual Funds (Cost $12,882,344,472)				13,509,189,095
Total Investments—100.0% (Cost $12,882,344,472)				13,509,189,095
Other assets and liabilities (net)—0.0%				(3,515,854	)
Net Assets—100.0%			$	13,505,673,241

(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	A Portfolio of Brighthouse Funds Trust I.
(c)	Non-income producing security.

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	13,509,189,095	$	—	$	—	$	13,509,189,095
Total Investments	$	13,509,189,095	$	—	$	—	$	13,509,189,095

BHFTII-138

Brighthouse Funds Trust II

Brighthouse Asset Allocation 80 Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		34,715,494	$	446,094,097
BlackRock Bond Income Portfolio (Class A) (a)		3,252,715		331,223,954
BlackRock Capital Appreciation Portfolio (Class A) (a)		7,969,260		366,187,496
BlackRock High Yield Portfolio (Class A) (b)		7,307,852		55,831,992
Brighthouse Small Cap Value Portfolio (Class A) (b)		11,510,902		192,001,849
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		26,099,412		257,079,206
Brighthouse/Artisan International Portfolio (Class A) (b)		35,725,031		400,120,352
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		109,507		27,763,282
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		15,996,971		212,439,774
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		10,778,740		111,559,960
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		32,453,294		328,102,805
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		17,049,817		562,643,964
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		25,222,786		393,727,682
Clarion Global Real Estate Portfolio (Class A) (b)		24,139,650		275,433,401
ClearBridge Aggressive Growth Portfolio (Class A) (b)		26,095,544		506,253,556
Frontier Mid Cap Growth Portfolio (Class A) (a)		1,467,053		56,114,758
Harris Oakmark International Portfolio (Class A) (b)		33,777,217		492,809,596
Invesco Comstock Portfolio (Class A) (b)		38,696,167		613,334,247
Invesco Small Cap Growth Portfolio (Class A) (b)		15,853,110		251,588,848
Jennison Growth Portfolio (Class A) (a)		32,723,068		564,800,147
JPMorgan Core Bond Portfolio (Class A) (b)		22,425,883		220,894,944
JPMorgan Small Cap Value Portfolio (Class A) (b)		9,432,990		163,756,699
Loomis Sayles Small Cap Growth Portfolio (Class A) (a)		8,560,117		140,129,111
Affiliated Investment Companies—(Continued)
MFS Research International Portfolio (Class A) (b)		26,506,329		331,064,052
MFS Value Portfolio (Class A) (a)		42,740,778		668,038,367
Morgan Stanley Mid Cap Growth Portfolio (Class A) (b)		1,242,066		28,430,882
Neuberger Berman Genesis Portfolio (Class A) (a)		1,250,930		27,795,664
Oppenheimer Global Equity Portfolio (Class A) (b)		6,823,970		165,686,003
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		17,078,133		165,145,542
PIMCO Total Return Portfolio (Class A) (b)		29,472,476		332,154,806
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		19,802,923		477,052,409
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		17,911,183		583,367,221
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		9,543,212		111,941,875
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		6,390,192		168,062,055
TCW Core Fixed Income Portfolio (Class A) (b)		28,130,102		275,956,304
Van Eck Global Natural Resources Portfolio (Class A) (a)		35,527,168		356,337,492
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		9,543,691		110,325,070
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		16,985,276		219,110,062
Total Mutual Funds (Cost $10,021,497,848)				10,990,359,524
Total Investments—100.0% (Cost $10,021,497,848)				10,990,359,524
Other assets and liabilities (net)—0.0%				(2,899,041	)
Net Assets—100.0%			$	10,987,460,483

(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	A Portfolio of Brighthouse Funds Trust I.
(c)	Non-income producing security.

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	10,990,359,524	$	—	$	—	$	10,990,359,524
Total Investments	$	10,990,359,524	$	—	$	—	$	10,990,359,524

BHFTII-139

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.7%
BWX Technologies, Inc. (a)		146,405	$	9,156,169
Airlines—0.9%
JetBlue Airways Corp. (a) (b)		549,666		10,641,534
Banks—1.1%
Webster Financial Corp. (a)		236,153		13,923,581
Beverages—0.4%
Monster Beverage Corp. (b)		89,274		5,202,889
Biotechnology—5.2%
Alkermes plc (b)		115,277		4,892,356
BioMarin Pharmaceutical, Inc. (b)		185,376		17,975,911
Exact Sciences Corp. (a) (b)		180,856		14,273,156
Incyte Corp. (a) (b)		118,941		8,216,444
Neurocrine Biosciences, Inc. (a) (b)		65,090		8,002,815
TESARO, Inc. (a) (b)		292,780		11,421,348
				64,782,030
Building Products—0.5%
A.O. Smith Corp.		125,566		6,701,457
Capital Markets—7.5%
E*Trade Financial Corp. (b)		152,150		7,971,138
Evercore, Inc. - Class A (a)		137,901		13,865,946
LPL Financial Holdings, Inc. (a)		257,089		16,584,811
Moody’s Corp.		79,710		13,327,512
Nasdaq, Inc.		237,272		20,357,938
Raymond James Financial, Inc.		226,577		20,856,413
				92,963,758
Chemicals—3.3%
FMC Corp.		274,006		23,887,843
Sherwin-Williams Co. (The)		37,547		17,091,770
				40,979,613
Commercial Services & Supplies—5.7%
Cintas Corp.		155,092		30,678,749
KAR Auction Services, Inc.		206,573		12,330,342
Waste Connections, Inc.		344,159		27,453,563
				70,462,654
Communications Equipment—1.5%
Palo Alto Networks, Inc. (a) (b)		82,500		18,583,950
Construction Materials—1.6%
Martin Marietta Materials, Inc. (a)		47,871		8,710,128
Vulcan Materials Co. (a)		96,854		10,770,165
				19,480,293
Containers & Packaging—1.7%
Ball Corp. (a)		486,436		21,398,320
Distributors—1.3%
LKQ Corp. (b)		511,205		16,189,862
Diversified Consumer Services—2.1%
Bright Horizons Family Solutions, Inc. (b)		100,278		11,816,760
ServiceMaster Global Holdings, Inc. (a) (b)		238,015		14,764,070
				26,580,830
Electrical Equipment—0.8%
Rockwell Automation, Inc. (a)		50,254		9,423,630
Electronic Equipment, Instruments & Components—1.3%
Amphenol Corp. - Class A		168,115		15,806,172
Entertainment—1.4%
Activision Blizzard, Inc.		89,265		7,425,955
Electronic Arts, Inc. (b)		78,971		9,515,216
				16,941,171
Equity Real Estate Investment Trusts—0.8%
SBA Communications Corp. (b)		63,457		10,193,098
Health Care Equipment & Supplies—8.9%
ABIOMED, Inc. (b)		16,293		7,327,777
Align Technology, Inc. (a) (b)		30,519		11,939,643
Cooper Cos., Inc. (The) (a)		111,577		30,923,565
Edwards Lifesciences Corp. (a) (b)		94,222		16,404,050
Insulet Corp. (a) (b)		114,246		12,104,364
Merit Medical Systems, Inc. (a) (b)		81,730		5,022,308
STERIS plc		138,769		15,875,174
Teleflex, Inc.		37,185		9,894,557
				109,491,438
Hotels, Restaurants & Leisure—4.4%
Aramark		202,990		8,732,630
Eldorado Resorts, Inc. (a) (b)		309,227		15,028,432
Texas Roadhouse, Inc. (a)		140,021		9,702,055
Yum! Brands, Inc.		228,905		20,809,754
				54,272,871
Insurance—0.9%
Aon plc		72,700		11,179,806
IT Services—12.7%
DXC Technology Co.		264,513		24,737,256
Gartner, Inc. (a) (b)		65,135		10,323,897
Global Payments, Inc.		301,117		38,362,306
InterXion Holding NV (b)		246,117		16,563,674
Jack Henry & Associates, Inc. (a)		87,119		13,946,010
WEX, Inc. (b)		122,891		24,671,597
Worldpay, Inc. - Class A (b)		275,885		27,938,874
				156,543,614
Life Sciences Tools & Services—4.6%
Illumina, Inc. (b)		48,903		17,950,335
PRA Health Sciences, Inc. (a) (b)		114,188		12,582,376
QIAGEN NV (b)		375,495		14,223,750
Waters Corp. (b)		60,588		11,795,272
				56,551,733

BHFTII-140

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Metals & Mining—1.3%
Allegheny Technologies, Inc. (a) (b)		525,664	$	15,533,371
Multiline Retail—2.3%
Dollar General Corp.		160,328		17,523,851
Dollar Tree, Inc. (a) (b)		127,226		10,375,280
				27,899,131
Oil, Gas & Consumable Fuels—1.5%
Carrizo Oil & Gas, Inc. (a) (b)		383,467		9,663,369
Concho Resources, Inc. (a) (b)		59,183		9,040,203
				18,703,572
Pharmaceuticals—0.7%
Nektar Therapeutics (a) (b)		136,193		8,302,325
Road & Rail—0.8%
Knight-Swift Transportation Holdings, Inc. (a)		304,588		10,502,194
Semiconductors & Semiconductor Equipment—7.6%
Lam Research Corp.		67,380		10,221,546
Marvell Technology Group, Ltd.		813,437		15,699,334
Monolithic Power Systems, Inc. (a)		90,729		11,389,211
Qorvo, Inc. (a) (b)		272,214		20,930,534
Semtech Corp. (a) (b)		341,565		18,991,014
Silicon Laboratories, Inc. (a) (b)		69,266		6,358,619
Universal Display Corp. (a)		89,384		10,538,374
				94,128,632
Software—8.3%
2U, Inc. (b)		57,495		4,323,049
CDK Global, Inc.		109,813		6,869,901
Fortinet, Inc. (a) (b)		111,975		10,331,933
Guidewire Software, Inc. (a) (b)		58,785		5,937,873
Nutanix, Inc. - Class A (a) (b)		148,154		6,329,139
ServiceNow, Inc. (b)		81,442		15,932,499
Splunk, Inc. (b)		133,851		16,183,924
SS&C Technologies Holdings, Inc.		455,914		25,909,593
Workday, Inc. - Class A (b)		69,509		10,146,924
				101,964,835
Specialty Retail—6.6%
Advance Auto Parts, Inc.		95,158		16,017,946
Carvana Co. (a) (b)		114,285		6,753,101
O’Reilly Automotive, Inc. (b)		84,604		29,384,661
Ross Stores, Inc.		165,449		16,395,996
Ulta Salon Cosmetics & Fragrance, Inc. (b)		45,628		12,872,571
				81,424,275
Trading Companies & Distributors—1.2%
Beacon Roofing Supply, Inc. (a) (b)		135,223		4,893,720
HD Supply Holdings, Inc. (b)		223,126		9,547,562
				14,441,282
Total Common Stocks (Cost $903,340,843)				1,230,350,090

Short-Term Investment—0.8%
Security Description	Principal Amount*		Value
Repurchase Agreement—0.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $9,325,209; collateralized by U.S. Treasury Note at 2.250%, maturing 10/31/24, with a market value of $9,513,798.		9,324,432	$	9,324,432
Total Short-Term Investments (Cost $9,324,432)				9,324,432
Securities Lending Reinvestments (c)—19.0%
Certificates of Deposit—11.3%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		2,000,000		1,999,966
2.466%, 1M LIBOR + 0.250%, 03/20/19 (d)		4,000,000		3,999,792
Banco Santander S.A. 2.340%, 11/07/18		5,000,000		5,000,410
Bank of Montreal Zero Coupon, 10/31/18		4,989,344		4,990,312
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (d)		4,750,000		4,754,532
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (d)		3,000,000		2,999,391
2.500%, 02/01/19		2,000,000		1,999,972
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (d)		4,000,000		4,002,348
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (d)		4,000,000		4,001,188
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (d)		4,000,000		4,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (d)		1,000,000		1,000,358
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		3,500,000		3,500,262
2.543%, 3M LIBOR + 0.200%, 04/05/19 (d)		3,000,000		3,002,298
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (d)		2,500,000		2,500,100
Credit Industriel et Commercial (NY) Zero Coupon, 01/25/19		2,961,684		2,976,090
2.364%, 1M LIBOR + 0.250%, 02/05/19 (d)		3,500,000		3,501,656
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		2,000,000		2,000,026
2.500%, 11/15/18		6,000,000		5,999,856
KBC Bank NV 2.400%, 12/27/18		3,000,000		3,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		4,000,000		4,000,008
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		3,969,950		3,970,777
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (d)		3,000,000		2,999,901
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (d)		1,000,000		999,921
2.504%, 1M LIBOR + 0.370%, 02/14/19 (d)		2,000,000		2,001,338

BHFTII-141

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Nordea Bank New York 2.543%, 3M LIBOR + 0.200%, 04/05/19 (d)		5,000,000	$	5,000,000
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		7,000,000		6,999,615
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (d)		6,000,000		5,999,298
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (d)		8,000,000		7,999,624
Sumitomo Mitsui Banking Corp., New York 2.290%, 1M LIBOR + 0.180%, 03/05/19 (d)		3,000,000		2,999,649
Sumitomo Mitsui Trust Bank, Ltd. 2.443%, 3M LIBOR + 0.110%, 10/11/18 (d)		2,000,000		2,000,014
2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		5,000,000		5,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (d)		5,000,000		5,000,595
2.554%, 1M LIBOR + 0.450%, 04/03/19 (d)		2,000,000		2,002,950
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		5,000,000		5,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (d)		7,000,000		7,000,798
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)		3,000,000		3,001,593
				139,204,634
Commercial Paper—2.7%
Bank of China, Ltd. 2.510%, 11/02/18		4,471,449		4,490,100
2.550%, 10/19/18		2,484,594		2,496,790
2.550%, 12/20/18		2,980,875		2,982,741
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (d)		7,000,000		7,003,577
Sheffield Receivables Co. 2.490%, 11/26/18		3,947,710		3,984,636
2.510%, SOFR + 0.350%, 11/28/18 (d)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		1,988,000		1,995,668
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		10,000,000		10,009,230
				33,462,879
Repurchase Agreements—4.0%
Citigroup Global Markets, Inc.
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $4,028,556; collateralized by various Common Stock with an aggregate market value of $4,400,001.		4,000,000		4,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $789,950; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $765,000.		750,000		750,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $3,000,560; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $3,060,000.		3,000,000	$	3,000,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,900,355; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $1,938,001.		1,900,000		1,900,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $2,000,373; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $1,732,036; collateralized by various Common Stock with an aggregate market value of $1,892,648.		1,700,000		1,700,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $1,807,139; collateralized by various Common Stock with an aggregate market value of $2,000,243.		1,800,000		1,800,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $123,291; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $125,638.		123,268		123,268
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $1,590,213; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $1,558,593; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $10,004,803; collateralized by various Common Stock with an aggregate market value of $11,002,143.		10,000,000		10,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $3,263,440; collateralized by various Common Stock with an aggregate market value of $3,560,496.		3,200,000		3,200,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $2,937,512; collateralized by various Common Stock with an aggregate market value of $3,226,700.		2,900,000		2,900,000

BHFTII-142

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $3,850,474; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,220,464.		3,800,000	$	3,800,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $4,658,738; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $5,108,983.		4,600,000		4,600,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,024,897; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $4,756,396; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $5,220,047.		4,700,000		4,700,000
				49,473,268
Time Deposits—1.0%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		5,000,000		5,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		5,000,000		5,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Nordea Bank New York 2.140%, 10/01/18		1,000,000	$	1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				13,000,000
Total Securities Lending Reinvestments (Cost $235,110,218)				235,140,781
Total Investments—119.4% (Cost $1,147,775,493)				1,474,815,303
Other assets and liabilities (net)—(19.4)%				(239,469,291	)
Net Assets—100.0%			$	1,235,346,012

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $230,439,306 and the collateral received consisted of cash in the amount of $235,016,874. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-143

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,230,350,090	$	—		$	—	$	1,230,350,090
Total Short-Term Investment*		—		9,324,432			—		9,324,432
Total Securities Lending Reinvestments*		—		235,140,781			—		235,140,781
Total Investments	$	1,230,350,090	$	244,465,213		$	—	$	1,474,815,303
Collateral for Securities Loaned (Liability)	$	—	$	(235,016,874	)	$	—	$	(235,016,874	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-144

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.9%
Boeing Co. (The)		230,345	$	85,665,305
Safran S.A.		212,104		29,684,852
				115,350,157
Automobiles—1.6%
Tesla, Inc. (a) (b)		172,602		45,699,831
Banks—2.4%
JPMorgan Chase & Co.		458,957		51,788,708
PNC Financial Services Group, Inc. (The)		139,193		18,956,694
				70,745,402
Beverages—0.2%
Monster Beverage Corp. (b)		84,086		4,900,532
Biotechnology—4.2%
Alexion Pharmaceuticals, Inc. (b)		298,264		41,461,679
BioMarin Pharmaceutical, Inc. (a) (b)		298,715		28,966,394
Celgene Corp. (b)		180,582		16,160,283
Vertex Pharmaceuticals, Inc. (b)		193,418		37,279,385
				123,867,741
Capital Markets—3.0%
Goldman Sachs Group, Inc. (The)		134,540		30,169,250
Morgan Stanley		503,314		23,439,333
S&P Global, Inc.		167,652		32,757,524
				86,366,107
Chemicals—0.9%
Albemarle Corp. (a)		272,396		27,179,673
Entertainment—5.5%
Activision Blizzard, Inc.		546,843		45,491,869
Netflix, Inc. (b)		310,130		116,028,937
				161,520,806
Food & Staples Retailing—2.0%
Costco Wholesale Corp.		253,607		59,567,212
Health Care Equipment & Supplies—1.0%
IDEXX Laboratories, Inc. (b)		29,201		7,290,322
Intuitive Surgical, Inc. (b)		35,979		20,651,946
				27,942,268
Health Care Providers & Services—1.5%
UnitedHealth Group, Inc.		166,569		44,314,017
Hotels, Restaurants & Leisure—3.5%
Chipotle Mexican Grill, Inc. (a) (b)		40,833		18,559,415
Marriott International, Inc. - Class A		413,114		54,543,441
McDonald’s Corp.		181,631		30,385,050
				103,487,906
Interactive Media & Services—10.6%
Alphabet, Inc. - Class A (b)		60,184		72,646,903
Interactive Media & Services—(Continued)
Alphabet, Inc. - Class C (b)		60,758		72,512,850
Facebook, Inc. - Class A (b)		508,920		83,696,983
Tencent Holdings, Ltd.		1,952,840		80,695,669
				309,552,405
Internet & Direct Marketing Retail—10.7%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		544,217		89,665,193
Amazon.com, Inc. (b)		93,464		187,208,392
Booking Holdings, Inc. (a) (b)		15,474		30,700,416
Farfetch, Ltd. - Class A (a) (b)		192,893		5,252,476
				312,826,477
IT Services—10.0%
Adyen NV (b)		19,072		15,556,069
MasterCard, Inc. - Class A		522,778		116,375,610
PayPal Holdings, Inc. (b)		443,564		38,962,662
Square, Inc. - Class A (a) (b)		201,902		19,990,317
Visa, Inc. - Class A (a)		680,488		102,134,444
				293,019,102
Life Sciences Tools & Services—1.9%
Illumina, Inc. (b)		151,780		55,712,367
Machinery—1.9%
Caterpillar, Inc.		192,710		29,386,348
Parker-Hannifin Corp.		147,459		27,122,134
				56,508,482
Oil, Gas & Consumable Fuels—1.1%
Concho Resources, Inc. (a) (b)		99,243		15,159,368
EOG Resources, Inc.		135,271		17,256,522
				32,415,890
Personal Products—1.5%
Estee Lauder Cos., Inc. (The) - Class A		291,098		42,302,361
Pharmaceuticals—3.0%
AstraZeneca plc (ADR) (a)		1,256,001		49,699,959
Bristol-Myers Squibb Co.		632,473		39,263,924
				88,963,883
Semiconductors & Semiconductor Equipment—4.0%
Broadcom, Inc. (a)		137,578		33,944,620
NVIDIA Corp.		293,493		82,477,403
				116,422,023
Software—15.4%
Adobe Systems, Inc. (b)		333,151		89,934,113
Microsoft Corp.		1,249,309		142,883,470
Red Hat, Inc. (b)		305,807		41,675,378
Salesforce.com, Inc. (b)		607,339		96,585,121
Splunk, Inc. (a) (b)		290,737		35,153,011
Workday, Inc. - Class A (a) (b)		298,040		43,507,879
				449,738,972

BHFTII-145

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Specialty Retail—1.8%
Home Depot, Inc. (The)		254,127	$	52,642,408
Technology Hardware, Storage & Peripherals—5.1%
Apple, Inc.		654,282		147,697,619
Textiles, Apparel & Luxury Goods—2.6%
Kering		68,621		36,693,100
NIKE, Inc. - Class B		472,804		40,055,955
				76,749,055
Total Common Stocks (Cost $1,635,658,221)				2,905,492,696
Securities Lending Reinvestments (c)—13.9%
Bank Note—0.3%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (d)		8,000,000		8,000,000
Certificates of Deposit—5.9%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		6,000,000		5,999,898
2.466%, 1M LIBOR + 0.250%, 03/20/19 (d)		3,000,000		2,999,844
Banco Santander S.A. 2.340%, 11/07/18		5,000,000		5,000,410
Bank of Montreal Zero Coupon, 10/31/18		6,985,081		6,986,437
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		3,000,000		2,999,994
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (d)		5,000,000		5,004,770
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (d)		3,500,000		3,499,290
2.500%, 02/01/19		3,000,000		2,999,958
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (d)		4,000,000		4,002,348
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (d)		4,000,000		4,001,188
Chiba Bank, Ltd., New York 2.190%, 10/05/18		4,000,000		3,999,924
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (d)		4,500,000		4,500,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (d)		2,000,000		2,000,716
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		7,500,000		7,500,562
2.543%, 3M LIBOR + 0.200%, 04/05/19 (d)		3,000,000		3,002,298
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (d)		3,000,000		3,000,120
Credit Industriel et Commercial Zero Coupon, 01/25/19		7,330,169		7,365,823
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		3,000,000		3,000,039
2.530%, 12/24/18		5,000,000		4,999,890

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
KBC Bank NV 2.400%, 12/27/18		5,000,000	$	5,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		10,000,000		10,000,020
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		4,962,437		4,963,471
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (d)		5,000,000		4,999,835
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (d)		3,000,000		2,999,763
2.533%, 3M LIBOR + 0.190%, 02/01/19 (d)		2,000,000		2,000,162
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		6,000,000		5,999,670
2.381%, 1M LIBOR + 0.250%, 01/11/19 (d)		4,000,000		4,001,320
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (d)		10,000,000		9,998,830
2.551%, 1M LIBOR + 0.420%, 10/11/18 (d)		2,000,000		2,000,100
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (d)		7,000,000		6,999,671
Sumitomo Mitsui Banking Corp., New York 2.276%, 1M LIBOR + 0.200%, 04/03/19 (d)		2,001,364		1,999,742
2.290%, 1M LIBOR + 0.180%, 03/05/19 (d)		4,000,000		3,999,532
Sumitomo Mitsui Trust Bank, Ltd (NY) 2.423%, 3M LIBOR + 0.090%, 10/18/18 (d)		5,000,628		4,999,965
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		6,000,000		6,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (d)		5,000,000		5,000,595
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		3,000,000		3,000,000
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)		5,000,000		5,002,655
				171,828,840
Commercial Paper—2.1%
Bank of China, Ltd. 2.510%, 11/02/18		8,942,897		8,980,200
2.550%, 10/19/18		3,975,350		3,994,864
2.550%, 12/20/18		2,980,875		2,982,741
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (d)		10,000,000		10,005,110
LMA S.A. & LMA Americas 2.470%, 11/13/18		4,939,965		4,985,545
Sheffield Receivables Co. 2.490%, 11/26/18		6,908,493		6,973,113
2.510%, SOFR + 0.350%, 11/28/18 (d)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		2,982,000		2,993,502
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		15,000,000		15,013,845
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (d)		5,000,000		5,002,770
				61,431,827

BHFTII-146

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Master Demand Notes—0.1%
Natixis Financial Products LLC 2.420%, OBFR + 0.250%, 10/01/18 (d)		4,000,000	$	4,000,000
Repurchase Agreements—4.2%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $10,105,056; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $10,542,861.		10,000,000		10,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $6,042,833; collateralized by various Common Stock with an aggregate market value of $6,600,001.		6,000,000		6,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,300,803; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $4,386,001.		4,300,000		4,300,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $2,800,523; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $2,856,002.		2,800,000		2,800,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $3,900,728; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $3,978,000.		3,900,000		3,900,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $2,445,227; collateralized by various Common Stock with an aggregate market value of $2,671,974.		2,400,000		2,400,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $1,003,966; collateralized by various Common Stock with an aggregate market value of $1,111,246.		1,000,000		1,000,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,191,428; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,214,108.		1,191,210		1,191,210
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $4,770,640; collateralized by various Common Stock with an aggregate market value of $4,950,001.		4,500,000		4,500,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $8,832,029; collateralized by various Common Stock with an aggregate market value of $9,350,001.		8,500,000	$	8,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000		20,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $4,691,195; collateralized by various Common Stock with an aggregate market value of $5,118,214.		4,600,000		4,600,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $4,254,327; collateralized by various Common Stock with an aggregate market value of $4,673,152.		4,200,000		4,200,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $5,026,004; collateralized by various Common Stock with an aggregate market value of $5,563,721.		5,000,000		5,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $7,538,513; collateralized by various Common Stock with an aggregate market value of $8,345,581.		7,500,000		7,500,000
Societe Generale Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,011,999; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $5,471,726; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $5,997,501.		5,400,000		5,400,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $6,583,000; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,219,215.		6,500,000		6,500,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,024,897; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $3,538,675; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,887,269.		3,500,000		3,500,000

BHFTII-147

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $11,105,820; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $12,217,132.		11,000,000	$	11,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $6,436,192; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,108,150.		6,400,000		6,400,000
				121,691,210
Time Deposits—1.3%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		10,000,000		10,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		8,000,000		8,000,000
DZ Bank AG 2.150%, 10/01/18		3,000,000		3,000,000
Nordea Bank New York 2.140%, 10/01/18		3,000,000		3,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		10,000,000		10,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		3,000,000		3,000,000
				37,000,000
Total Securities Lending Reinvestments (Cost $403,915,969)				403,951,877
Total Investments—113.2% (Cost $2,039,574,190)				3,309,444,573
Other assets and liabilities (net)—(13.2)%				(384,888,373	)
Net Assets—100.0%			$	2,924,556,200

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $386,606,265 and the collateral received consisted of cash in the amount of $403,700,470. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate
(OBFR)—	U.S. Overnight Bank Funding Rate

BHFTII-148

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	85,665,305	$	29,684,852		$	—	$	115,350,157
Automobiles		45,699,831		—			—		45,699,831
Banks		70,745,402		—			—		70,745,402
Beverages		4,900,532		—			—		4,900,532
Biotechnology		123,867,741		—			—		123,867,741
Capital Markets		86,366,107		—			—		86,366,107
Chemicals		27,179,673		—			—		27,179,673
Entertainment		161,520,806		—			—		161,520,806
Food & Staples Retailing		59,567,212		—			—		59,567,212
Health Care Equipment & Supplies		27,942,268		—			—		27,942,268
Health Care Providers & Services		44,314,017		—			—		44,314,017
Hotels, Restaurants & Leisure		103,487,906		—			—		103,487,906
Interactive Media & Services		228,856,736		80,695,669			—		309,552,405
Internet & Direct Marketing Retail		312,826,477		—			—		312,826,477
IT Services		277,463,033		15,556,069			—		293,019,102
Life Sciences Tools & Services		55,712,367		—			—		55,712,367
Machinery		56,508,482		—			—		56,508,482
Oil, Gas & Consumable Fuels		32,415,890		—			—		32,415,890
Personal Products		42,302,361		—			—		42,302,361
Pharmaceuticals		88,963,883		—			—		88,963,883
Semiconductors & Semiconductor Equipment		116,422,023		—			—		116,422,023
Software		449,738,972		—			—		449,738,972
Specialty Retail		52,642,408		—			—		52,642,408
Technology Hardware, Storage & Peripherals		147,697,619		—			—		147,697,619
Textiles, Apparel & Luxury Goods		40,055,955		36,693,100			—		76,749,055
Total Common Stocks		2,742,863,006		162,629,690			—		2,905,492,696
Total Securities Lending Reinvestments*		—		403,951,877			—		403,951,877
Total Investments	$	2,742,863,006	$	566,581,567		$	—	$	3,309,444,573
Collateral for Securities Loaned (Liability)	$	—	$	(403,700,470	)	$	—	$	(403,700,470	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-149

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—98.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.3%
AAR Corp.		25,027	$	1,198,543
Aerojet Rocketdyne Holdings, Inc. (a) (b)		80,335		2,730,587
Astronics Corp. (a)		31,680		1,378,080
BWX Technologies, Inc.		39,526		2,471,956
Hexcel Corp.		25,850		1,733,242
KLX, Inc. (a)		22,441		1,408,846
				10,921,254
Auto Components—1.3%
Cooper Tire & Rubber Co. (b)		72,016		2,038,053
Fox Factory Holding Corp. (a)		30,032		2,103,742
LCI Industries		23,863		1,975,856
				6,117,651
Banks—12.2%
BancorpSouth Bank (b)		83,888		2,743,138
Bank OZK (b)		32,202		1,222,388
Bryn Mawr Bank Corp.		59,197		2,776,339
Carolina Financial Corp.		27,114		1,022,740
Cathay General Bancorp (b)		73,024		3,026,115
CenterState Bank Corp.		95,934		2,690,949
Chemical Financial Corp.		78,779		4,206,799
CVB Financial Corp.		128,647		2,871,401
First Financial Bancorp		90,458		2,686,603
First Financial Bankshares, Inc. (b)		35,782		2,114,716
Home BancShares, Inc. (b)		116,648		2,554,591
Iberiabank Corp.		35,130		2,857,825
Pacific Premier Bancorp, Inc. (a)		25,937		964,856
PacWest Bancorp		53,740		2,560,711
Pinnacle Financial Partners, Inc.		59,103		3,555,045
Popular, Inc.		75,510		3,869,887
Prosperity Bancshares, Inc. (b)		42,944		2,978,166
Renasant Corp.		34,298		1,413,421
Signature Bank		15,796		1,814,013
Texas Capital Bancshares, Inc. (a)		28,872		2,386,271
Triumph Bancorp, Inc. (a)		78,995		3,017,609
UMB Financial Corp. (b)		16,888		1,197,359
Wintrust Financial Corp.		40,182		3,413,059
				57,944,001
Beverages—0.8%
Cott Corp.		156,629		2,529,558
MGP Ingredients, Inc. (b)		16,927		1,336,895
				3,866,453
Biotechnology—1.7%
Agios Pharmaceuticals, Inc. (a) (b)		14,823		1,143,150
Aimmune Therapeutics, Inc. (a) (b)		29,212		796,903
Argenx SE (ADR) (a)		12,299		932,756
Genomic Health, Inc. (a)		29,323		2,059,061
Global Blood Therapeutics, Inc. (a) (b)		19,641		746,358
Ironwood Pharmaceuticals, Inc. (a) (b)		64,531		1,191,242
Xencor, Inc. (a)		25,906		1,009,557
				7,879,027

Security Description	Shares		Value
Building Products—1.6%
Armstrong World Industries, Inc. (a)		37,848	$	2,634,221
Masonite International Corp. (a)		26,067		1,670,895
Patrick Industries, Inc. (a)		19,823		1,173,521
Trex Co., Inc. (a) (b)		26,703		2,055,597
				7,534,234
Capital Markets—1.6%
Artisan Partners Asset Management, Inc. - Class A		30,818		998,503
Donnelley Financial Solutions, Inc. (a)		102,031		1,828,396
Hercules Capital, Inc.		72,230		950,547
MarketAxess Holdings, Inc. (b)		8,052		1,437,201
Stifel Financial Corp.		46,489		2,383,026
				7,597,673
Chemicals—3.2%
AdvanSix, Inc. (a)		78,722		2,672,612
Ashland Global Holdings, Inc.		22,086		1,852,132
Cabot Corp.		29,409		1,844,532
Ingevity Corp. (a)		48,493		4,940,467
Minerals Technologies, Inc.		28,298		1,912,945
WR Grace & Co.		26,112		1,865,964
				15,088,652
Commercial Services & Supplies—2.5%
Clean Harbors, Inc. (a)		33,861		2,423,770
KAR Auction Services, Inc.		70,931		4,233,871
Kimball International, Inc. - Class B		74,366		1,245,631
LSC Communications, Inc. (b)		58,202		643,714
Viad Corp.		57,747		3,421,510
				11,968,496
Communications Equipment—0.6%
Digi International, Inc. (a)		95,393		1,283,036
Viavi Solutions, Inc. (a)		153,610		1,741,937
				3,024,973
Construction & Engineering—0.8%
MYR Group, Inc. (a)		24,384		795,894
Primoris Services Corp.		55,806		1,385,105
Willscot Corp. (a) (b)		84,109		1,442,469
				3,623,468
Construction Materials—0.1%
U.S. Concrete, Inc. (a) (b)		13,749		630,392
Consumer Finance—0.9%
Green Dot Corp. - Class A (a)		22,718		2,017,813
PRA Group, Inc. (a) (b)		63,504		2,286,144
				4,303,957
Distributors—0.6%
Core-Mark Holding Co., Inc.		16,902		573,992
Pool Corp.		12,466		2,080,326
				2,654,318

BHFTII-150

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Consumer Services—2.3%
Adtalem Global Education, Inc. (a)		23,401	$	1,127,928
Bright Horizons Family Solutions, Inc. (a)		12,664		1,492,326
Chegg, Inc. (a) (b)		53,696		1,526,577
Grand Canyon Education, Inc. (a)		21,088		2,378,726
Laureate Education, Inc. - Class A (a)		116,083		1,792,322
ServiceMaster Global Holdings, Inc. (a)		38,385		2,381,022
				10,698,901
Diversified Financial Services—0.3%
Cannae Holdings, Inc. (a)		60,080		1,258,676
Diversified Telecommunication Services—0.4%
Cogent Communications Holdings, Inc.		31,023		1,731,083
Electric Utilities—0.8%
ALLETE, Inc.		48,118		3,609,331
Electrical Equipment—0.9%
Generac Holdings, Inc. (a)		34,922		1,969,950
TPI Composites, Inc. (a)		74,238		2,119,495
				4,089,445
Electronic Equipment, Instruments & Components—2.9%
Belden, Inc. (b)		29,998		2,142,157
II-VI, Inc. (a) (b)		33,632		1,590,794
Kimball Electronics, Inc. (a)		24,291		477,318
Littelfuse, Inc.		23,346		4,619,940
Methode Electronics, Inc.		39,257		1,421,103
Rogers Corp. (a)		14,749		2,172,823
Vishay Intertechnology, Inc. (b)		60,772		1,236,710
				13,660,845
Energy Equipment & Services—2.4%
Apergy Corp. (a)		56,033		2,440,797
C&J Energy Services, Inc. (a)		91,483		1,902,846
Cactus, Inc. - Class A (a)		46,322		1,773,206
Dril-Quip, Inc. (a) (b)		18,770		980,733
KLX Energy Services Holdings, Inc. (a)		28,788		921,504
Natural Gas Services Group, Inc. (a)		29,768		628,105
Oil States International, Inc. (a)		48,154		1,598,713
U.S. Silica Holdings, Inc. (b)		73,069		1,375,889
				11,621,793
Entertainment—0.2%
IMAX Corp. (a)		32,986		851,039
Equity Real Estate Investment Trusts—4.6%
American Campus Communities, Inc.		38,783		1,596,308
Corepoint Lodging, Inc.		47,426		922,436
CubeSmart		96,732		2,759,764
CyrusOne, Inc.		37,480		2,376,232
Hersha Hospitality Trust		75,629		1,714,509
iStar, Inc. (b)		183,427		2,048,880
JBG SMITH Properties		62,434		2,299,444
National Retail Properties, Inc.		31,847		1,427,383
Retail Opportunity Investments Corp. (b)		178,706		3,336,441
Rexford Industrial Realty, Inc.		65,662		2,098,558
Equity Real Estate Investment Trusts—(Continued)
Sabra Health Care REIT, Inc. (b)		57,386		1,326,764
				21,906,719
Food & Staples Retailing—0.2%
Chefs’ Warehouse, Inc. (The) (a)		22,319		811,296
Food Products—2.3%
Darling Ingredients, Inc. (a)		51,266		990,459
Freshpet, Inc. (a)		31,087		1,140,893
J&J Snack Foods Corp.		15,915		2,401,415
Nomad Foods, Ltd. (a)		132,847		2,691,480
Post Holdings, Inc. (a) (b)		24,082		2,360,999
SunOpta, Inc. (a)		154,205		1,133,407
				10,718,653
Health Care Equipment & Supplies—5.1%
AtriCure, Inc. (a)		55,229		1,934,672
Avanos Medical, Inc. (a)		45,994		3,150,589
Inogen, Inc. (a) (b)		6,302		1,538,444
Insulet Corp. (a) (b)		22,646		2,399,344
iRhythm Technologies, Inc. (a) (b)		20,109		1,903,518
Merit Medical Systems, Inc. (a) (b)		22,346		1,373,162
Neogen Corp. (a)		9,143		653,999
Novocure, Ltd. (a)		42,505		2,227,262
Penumbra, Inc. (a) (b)		12,379		1,853,136
Quidel Corp. (a)		31,577		2,057,873
Tactile Systems Technology, Inc. (a)		16,524		1,174,030
Varex Imaging Corp. (a)		76,538		2,193,579
Wright Medical Group NV (a) (b)		63,060		1,830,001
				24,289,609
Health Care Providers & Services—2.1%
Amedisys, Inc. (a) (b)		12,213		1,526,136
AMN Healthcare Services, Inc. (a) (b)		70,217		3,840,870
BioTelemetry, Inc. (a)		21,823		1,406,492
HealthEquity, Inc. (a) (b)		25,351		2,393,388
Tivity Health, Inc. (a) (b)		31,284		1,005,781
				10,172,667
Health Care Technology—1.3%
Medidata Solutions, Inc. (a) (b)		27,155		1,990,733
Teladoc Health, Inc. (a) (b)		27,432		2,368,753
Vocera Communications, Inc. (a) (b)		45,705		1,671,889
				6,031,375
Hotels, Restaurants & Leisure—2.4%
Churchill Downs, Inc.		12,288		3,412,377
Cracker Barrel Old Country Store, Inc. (b)		5,394		793,619
Marriott Vacations Worldwide Corp.		24,173		2,701,333
Planet Fitness, Inc. - Class A (a)		40,793		2,204,046
Wingstop, Inc.		30,873		2,107,700
				11,219,075
Household Durables—0.5%
Helen of Troy, Ltd. (a)		18,355		2,402,670

BHFTII-151

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Products—0.4%
Spectrum Brands Holdings, Inc.		23,190	$	1,732,757
Independent Power and Renewable Electricity Producers—0.4%
NextEra Energy Partners LP (b)		43,045		2,087,683
Industrial Conglomerates—0.6%
Raven Industries, Inc.		59,151		2,706,158
Insurance—3.1%
Employers Holdings, Inc.		75,036		3,399,131
First American Financial Corp.		42,713		2,203,564
Kinsale Capital Group, Inc. (b)		29,148		1,861,391
ProAssurance Corp.		40,245		1,889,503
Reinsurance Group of America, Inc.		19,152		2,768,613
Stewart Information Services Corp.		19,533		879,180
Trupanion, Inc. (a) (b)		41,845		1,495,122
				14,496,504
Interactive Media & Services—0.3%
IAC/InterActiveCorp (a)		6,242		1,352,766
IT Services—4.9%
Conduent, Inc. (a)		122,016		2,747,800
CSG Systems International, Inc.		30,989		1,243,899
Euronet Worldwide, Inc. (a)		47,271		4,737,500
Evo Payments, Inc. - Class A (a) (b)		32,645		780,216
Genpact, Ltd.		45,715		1,399,336
InterXion Holding NV (a)		32,273		2,171,973
Perspecta, Inc.		107,352		2,761,093
Virtusa Corp. (a)		35,406		1,901,656
WEX, Inc. (a)		16,345		3,281,422
WNS Holdings, Ltd. (ADR) (a)		41,181		2,089,936
				23,114,831
Leisure Products—0.1%
Malibu Boats, Inc. - Class A (a)		12,893		705,505
Life Sciences Tools & Services—1.1%
Cambrex Corp. (a) (b)		42,016		2,873,894
PRA Health Sciences, Inc. (a)		23,532		2,592,991
				5,466,885
Machinery—5.8%
Alamo Group, Inc.		14,965		1,370,944
Albany International Corp. - Class A		34,402		2,734,959
Altra Industrial Motion Corp. (b)		37,221		1,537,227
Columbus McKinnon Corp.		60,543		2,393,870
EnPro Industries, Inc.		30,064		2,192,568
Evoqua Water Technologies Corp. (a) (b)		63,538		1,129,706
Harsco Corp. (a)		73,117		2,087,490
John Bean Technologies Corp. (b)		20,134		2,401,986
Kadant, Inc.		8,246		889,331
Proto Labs, Inc. (a)		14,168		2,291,674
RBC Bearings, Inc. (a)		24,759		3,722,763
Standex International Corp.		25,571		2,665,777
WABCO Holdings, Inc. (a)		19,927		2,350,190
				27,768,485

Security Description	Shares		Value
Marine—0.3%
Kirby Corp. (a) (b)		17,389	$	1,430,245
Media—1.8%
Emerald Expositions Events, Inc.		42,010		692,325
GCI Liberty, Inc. - Class A (a)		53,435		2,725,185
Gray Television, Inc. (a)		186,742		3,267,985
John Wiley & Sons, Inc. - Class A		30,665		1,858,299
				8,543,794
Metals & Mining—0.3%
Ferroglobe Representation & Warranty Insurance Trust (a) (c)		141,548		0
Haynes International, Inc. (b)		37,282		1,323,511
				1,323,511
Multi-Utilities—0.5%
NorthWestern Corp.		42,410		2,487,771
Multiline Retail—0.8%
Big Lots, Inc.		37,690		1,575,065
Ollie’s Bargain Outlet Holdings, Inc. (a) (b)		22,583		2,170,226
				3,745,291
Oil, Gas & Consumable Fuels—1.2%
Arch Coal, Inc. - Class A (b)		1,538		137,497
Gulfport Energy Corp. (a) (b)		109,785		1,142,862
PDC Energy, Inc. (a)		24,482		1,198,639
QEP Resources, Inc. (a)		147,913		1,674,375
SRC Energy, Inc. (a) (b)		196,779		1,749,365
				5,902,738
Pharmaceuticals—1.6%
Aerie Pharmaceuticals, Inc. (a)		22,488		1,384,136
Catalent, Inc. (a)		55,032		2,506,707
Prestige Brands Holdings, Inc. (a) (b)		57,057		2,161,890
Supernus Pharmaceuticals, Inc. (a) (b)		34,725		1,748,404
				7,801,137
Professional Services—1.1%
Insperity, Inc.		22,037		2,599,264
Korn/Ferry International		55,349		2,725,385
				5,324,649
Road & Rail—1.0%
Genesee & Wyoming, Inc. - Class A (a) (b)		25,532		2,323,157
Old Dominion Freight Line, Inc.		16,160		2,605,961
				4,929,118
Semiconductors & Semiconductor Equipment—2.7%
Advanced Energy Industries, Inc. (a)		31,560		1,630,074
Mellanox Technologies, Ltd. (a)		40,582		2,980,748
MKS Instruments, Inc.		13,589		1,089,159
Monolithic Power Systems, Inc.		13,827		1,735,703
Semtech Corp. (a)		31,332		1,742,059
Silicon Laboratories, Inc. (a)		17,489		1,605,490

BHFTII-152

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Semiconductors & Semiconductor Equipment—(Continued)
Ultra Clean Holdings, Inc. (a) (b)		80,315	$	1,007,953
Versum Materials, Inc.		29,772		1,072,090
				12,863,276
Software—6.5%
2U, Inc. (a)		18,351		1,379,812
Blackbaud, Inc. (b)		15,741		1,597,397
CommVault Systems, Inc. (a)		36,028		2,521,960
Envestnet, Inc. (a)		32,293		1,968,258
Five9, Inc. (a)		48,945		2,138,407
Guidewire Software, Inc. (a) (b)		21,025		2,123,735
HubSpot, Inc. (a)		12,126		1,830,420
LogMeIn, Inc.		11,256		1,002,910
Mimecast, Ltd. (a)		51,035		2,137,346
Q2 Holdings, Inc. (a)		38,609		2,337,775
Rapid7, Inc. (a)		52,484		1,937,709
RealPage, Inc. (a)		35,411		2,333,585
RingCentral, Inc. - Class A (a)		22,681		2,110,467
Talend S.A. (ADR) (a)		22,900		1,597,046
TiVo Corp. (b)		101,535		1,264,111
Varonis Systems, Inc. (a)		11,153		816,957
Verint Systems, Inc. (a)		38,164		1,912,016
				31,009,911
Specialty Retail—1.5%
Aaron’s, Inc.		35,320		1,923,527
At Home Group, Inc. (a) (b)		49,605		1,564,046
Genesco, Inc. (a) (b)		15,874		747,665
National Vision Holdings, Inc. (a)		45,072		2,034,550
Sally Beauty Holdings, Inc. (a) (b)		48,199		886,380
				7,156,168
Technology Hardware, Storage & Peripherals—0.2%
Cray, Inc. (a)		42,608		916,072
Textiles, Apparel & Luxury Goods—1.5%
Columbia Sportswear Co.		20,827		1,938,369
Crocs, Inc. (a)		72,244		1,538,075
G-III Apparel Group, Ltd. (a)		40,763		1,964,369
Steven Madden, Ltd.		29,266		1,548,171
				6,988,984
Thrifts & Mortgage Finance—1.3%
Essent Group, Ltd. (a)		20,819		921,241
Federal Agricultural Mortgage Corp. - Class C		21,608		1,559,665
Meta Financial Group, Inc.		20,741		1,714,244
OceanFirst Financial Corp.		78,960		2,149,291
				6,344,441
Trading Companies & Distributors—0.6%
BMC Stock Holdings, Inc. (a)		53,670		1,000,945
SiteOne Landscape Supply, Inc. (a) (b)		26,111		1,967,203
				2,968,148
Total Common Stocks (Cost $311,305,812)				467,394,554

Short-Term Investment—1.7%
Security Description	Principal Amount*		Value
Repurchase Agreement—1.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $7,975,300; collateralized by U.S. Treasury Note at 2.375%, maturing 08/15/24, with a market value of $8,135,246.		7,974,635	$	7,974,635
Total Short-Term Investments (Cost $7,974,635)				7,974,635
Securities Lending Reinvestments (d)—19.6%
Certificates of Deposit—6.2%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (e)		1,250,000		1,249,979
Banco Santander S.A. 2.340%, 11/07/18		1,999,949		2,000,164
Bank of Montreal Zero Coupon, 10/31/18		1,995,737		1,996,125
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (e)		1,000,000		999,998
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (e)		1,500,000		1,501,431
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (e)		2,000,000		1,999,594
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (e)		1,000,000		1,000,075
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (e)		500,000		500,020
Credit Industriel et Commercial Zero Coupon, 01/25/19		987,228		992,030
Credit Industriel et Commercial (NY) 2.364%, 1M LIBOR + 0.250%, 02/05/19 (e)		1,500,000		1,500,709
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,000,000		1,000,013
2.500%, 11/15/18		2,000,000		1,999,952
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		1,000,000		1,000,002
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (e)		1,500,000		1,499,951
Royal Bank of Canada New York 2.381%, 1M LIBOR + 0.250%, 01/11/19 (e)		1,500,000		1,500,495
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (e)		2,000,000		1,999,766
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (e)		2,000,000		1,999,906
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (e)		1,000,000		1,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (e)		2,500,000		2,500,285
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (e)		1,000,000		1,000,531
				29,241,026

BHFTII-153

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—2.5%
Bank of China, Ltd. 2.510%, 11/02/18		993,655	$	997,800
2.550%, 10/19/18		1,490,756		1,498,074
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (e)		3,000,000		3,000,309
Sheffield Receivables Co. 2.490%, 11/26/18		493,464		498,080
2.510%, SOFR + 0.350%, 11/28/18 (e)		500,000		500,137
Starbird Funding Corp. 2.280%, 11/08/18		1,988,600		1,994,892
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (e)		1,500,000		1,501,384
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (e)		2,000,000		2,001,108
				11,991,784
Repurchase Agreements—9.0%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $1,010,506; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $1,054,286.		1,000,000		1,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $1,007,139; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $210,653; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $204,000.		200,000		200,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,700,317; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $1,734,000.		1,700,000		1,700,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,100,205; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $1,122,001.		1,100,000		1,100,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,600,299; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $1,632,000.		1,600,000		1,600,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $916,960; collateralized by various Common Stock with an aggregate market value of $1,001,990.		900,000		900,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $1,003,966; collateralized by various Common Stock with an aggregate market value of $1,111,246.		1,000,000	$	1,000,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $2,269,796; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $2,313,002.		2,269,380		2,269,380
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $212,028; collateralized by various Common Stock with an aggregate market value of $220,000.		200,000		200,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $2,337,890; collateralized by various Common Stock with an aggregate market value of $2,475,000.		2,250,000		2,250,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $10,004,803; collateralized by various Common Stock with an aggregate market value of $11,002,143.		10,000,000		10,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $1,835,685; collateralized by various Common Stock with an aggregate market value of $2,002,779.		1,800,000		1,800,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $1,620,696; collateralized by various Common Stock with an aggregate market value of $1,780,248.		1,600,000		1,600,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $1,005,201; collateralized by various Common Stock with an aggregate market value of $1,112,744.		1,000,000		1,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $1,507,703; collateralized by various Common Stock with an aggregate market value of $1,669,116.		1,500,000		1,500,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $2,127,893; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,332,362.		2,100,000		2,100,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,632,366; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,887,686.		2,600,000		2,600,000

BHFTII-154

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $2,531,923; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,776,621.		2,500,000	$	2,500,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $2,631,198; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,887,686.		2,600,000		2,600,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $1,011,050; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $1,514,430; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,665,973.		1,500,000		1,500,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $1,206,786; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,332,778.		1,200,000		1,200,000
				42,619,380
Time Deposits—1.9%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		3,000,000		3,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		3,000,000		3,000,000
Time Deposits—(Continued)
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				9,000,000
Total Securities Lending Reinvestments (Cost $92,846,496)				92,852,190
Total Investments—119.8% (Cost $412,126,943)				568,221,379
Other assets and liabilities (net)—(19.8)%				(93,900,590	)
Net Assets—100.0%			$	474,320,789

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $91,249,531 and the collateral received consisted of cash in the amount of $92,818,770. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Illiquid security. As of September 30, 2018, these securities represent 0.0% of net assets.
(d)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/ agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Fair Value Hierarchy

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

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

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

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

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

BHFTII-155

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	10,921,254	$	—		$	—	$	10,921,254
Auto Components		6,117,651		—			—		6,117,651
Banks		57,944,001		—			—		57,944,001
Beverages		3,866,453		—			—		3,866,453
Biotechnology		7,879,027		—			—		7,879,027
Building Products		7,534,234		—			—		7,534,234
Capital Markets		7,597,673		—			—		7,597,673
Chemicals		15,088,652		—			—		15,088,652
Commercial Services & Supplies		11,968,496		—			—		11,968,496
Communications Equipment		3,024,973		—			—		3,024,973
Construction & Engineering		3,623,468		—			—		3,623,468
Construction Materials		630,392		—			—		630,392
Consumer Finance		4,303,957		—			—		4,303,957
Distributors		2,654,318		—			—		2,654,318
Diversified Consumer Services		10,698,901		—			—		10,698,901
Diversified Financial Services		1,258,676		—			—		1,258,676
Diversified Telecommunication Services		1,731,083		—			—		1,731,083
Electric Utilities		3,609,331		—			—		3,609,331
Electrical Equipment		4,089,445		—			—		4,089,445
Electronic Equipment, Instruments & Components		13,660,845		—			—		13,660,845
Energy Equipment & Services		11,621,793		—			—		11,621,793
Entertainment		851,039		—			—		851,039
Equity Real Estate Investment Trusts		21,906,719		—			—		21,906,719
Food & Staples Retailing		811,296		—			—		811,296
Food Products		10,718,653		—			—		10,718,653
Health Care Equipment & Supplies		24,289,609		—			—		24,289,609
Health Care Providers & Services		10,172,667		—			—		10,172,667
Health Care Technology		6,031,375		—			—		6,031,375
Hotels, Restaurants & Leisure		11,219,075		—			—		11,219,075
Household Durables		2,402,670		—			—		2,402,670
Household Products		1,732,757		—			—		1,732,757
Independent Power and Renewable Electricity Producers		2,087,683		—			—		2,087,683
Industrial Conglomerates		2,706,158		—			—		2,706,158
Insurance		14,496,504		—			—		14,496,504
Interactive Media & Services		1,352,766		—			—		1,352,766
IT Services		23,114,831		—			—		23,114,831
Leisure Products		705,505		—			—		705,505
Life Sciences Tools & Services		5,466,885		—			—		5,466,885
Machinery		27,768,485		—			—		27,768,485
Marine		1,430,245		—			—		1,430,245
Media		8,543,794		—			—		8,543,794
Metals & Mining		1,323,511		0			—		1,323,511
Multi-Utilities		2,487,771		—			—		2,487,771
Multiline Retail		3,745,291		—			—		3,745,291
Oil, Gas & Consumable Fuels		5,902,738		—			—		5,902,738
Pharmaceuticals		7,801,137		—			—		7,801,137
Professional Services		5,324,649		—			—		5,324,649
Road & Rail		4,929,118		—			—		4,929,118
Semiconductors & Semiconductor Equipment		12,863,276		—			—		12,863,276
Software		31,009,911		—			—		31,009,911
Specialty Retail		7,156,168		—			—		7,156,168
Technology Hardware, Storage & Peripherals		916,072		—			—		916,072
Textiles, Apparel & Luxury Goods		6,988,984		—			—		6,988,984
Thrifts & Mortgage Finance		6,344,441		—			—		6,344,441
Trading Companies & Distributors		2,968,148		—			—		2,968,148
Total Common Stocks		467,394,554		0			—		467,394,554
Total Short-Term Investment*		—		7,974,635			—		7,974,635
Total Securities Lending Reinvestments*		—		92,852,190			—		92,852,190
Total Investments	$	467,394,554	$	100,826,825		$	—	$	568,221,379
Collateral for Securities Loaned (Liability)	$	—	$	(92,818,770	)	$	—	$	(92,818,770	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-156

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—98.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.5%
AAR Corp.		58,408	$	2,797,159
Astronics Corp. (a)		73,933		3,216,086
Hexcel Corp.		60,327		4,044,925
KLX, Inc. (a)		52,371		3,287,851
				13,346,021
Banks—3.8%
Chemical Financial Corp.		54,642		2,917,883
Pacific Premier Bancorp, Inc. (a)		60,531		2,251,753
Pinnacle Financial Partners, Inc.		49,528		2,979,109
Renasant Corp.		80,043		3,298,572
UMB Financial Corp. (b)		39,412		2,794,311
				14,241,628
Beverages—0.8%
MGP Ingredients, Inc. (b)		39,504		3,120,026
Biotechnology—4.8%
Agios Pharmaceuticals, Inc. (a) (b)		34,594		2,667,889
Aimmune Therapeutics, Inc. (a) (b)		68,173		1,859,760
Argenx SE (ADR) (a)		28,467		2,158,937
Genomic Health, Inc. (a)		68,432		4,805,295
Global Blood Therapeutics, Inc. (a) (b)		45,836		1,741,768
Ironwood Pharmaceuticals, Inc. (a) (b)		150,598		2,780,039
Xencor, Inc. (a) (b)		60,457		2,356,009
				18,369,697
Building Products—2.0%
Patrick Industries, Inc. (a)		46,261		2,738,651
Trex Co., Inc. (a) (b)		62,320		4,797,394
				7,536,045
Capital Markets—1.5%
Artisan Partners Asset Management, Inc. - Class A		71,920		2,330,208
MarketAxess Holdings, Inc. (b)		18,792		3,354,184
				5,684,392
Chemicals—1.3%
Ingevity Corp. (a)		47,830		4,872,920
Construction & Engineering—1.7%
Primoris Services Corp.		130,236		3,232,458
Willscot Corp. (a) (b)		196,287		3,366,322
				6,598,780
Consumer Finance—1.2%
Green Dot Corp. - Class A (a)		53,017		4,708,970
Distributors—1.3%
Pool Corp.		29,093		4,855,040
Diversified Consumer Services—4.4%
Bright Horizons Family Solutions, Inc. (a)		29,554		3,482,643
Chegg, Inc. (a) (b)		125,313		3,562,649

Security Description	Shares		Value
Diversified Consumer Services—(Continued)
Grand Canyon Education, Inc. (a)		49,214	$	5,551,339
Laureate Education, Inc. - Class A (a)		270,907		4,182,804
				16,779,435
Diversified Telecommunication Services—1.1%
Cogent Communications Holdings, Inc. (b)		72,400		4,039,920
Electrical Equipment—1.2%
Generac Holdings, Inc. (a)		81,501		4,597,471
Energy Equipment & Services—1.9%
Cactus, Inc. - Class A (a)		108,103		4,138,183
Dril-Quip, Inc. (a) (b)		43,806		2,288,864
KLX Energy Services Holdings, Inc. (a)		20,948		670,545
				7,097,592
Entertainment—0.5%
IMAX Corp. (a)		76,469		1,972,900
Food & Staples Retailing—0.5%
Chefs’ Warehouse, Inc. (The) (a)		51,859		1,885,075
Food Products—0.7%
Freshpet, Inc. (a)		72,548		2,662,512
Health Care Equipment & Supplies—10.4%
AtriCure, Inc. (a)		128,889		4,514,982
Inogen, Inc. (a) (b)		14,707		3,590,273
Insulet Corp. (a) (b)		52,851		5,599,563
iRhythm Technologies, Inc. (a)		46,616		4,412,671
Merit Medical Systems, Inc. (a) (b)		52,150		3,204,617
Neogen Corp. (a)		21,339		1,526,379
Novocure, Ltd. (a)		99,196		5,197,870
Penumbra, Inc. (a) (b)		28,890		4,324,833
Tactile Systems Technology, Inc. (a)		38,563		2,739,901
Wright Medical Group NV (a) (b)		147,164		4,270,699
				39,381,788
Health Care Providers & Services—4.9%
Amedisys, Inc. (a) (b)		28,502		3,561,610
AMN Healthcare Services, Inc. (a) (b)		69,595		3,806,846
BioTelemetry, Inc. (a)		50,927		3,282,245
HealthEquity, Inc. (a) (b)		59,163		5,585,579
Tivity Health, Inc. (a) (b)		73,010		2,347,272
				18,583,552
Health Care Technology—3.7%
Medidata Solutions, Inc. (a) (b)		63,373		4,645,875
Teladoc Health, Inc. (a) (b)		64,020		5,528,127
Vocera Communications, Inc. (a)		106,663		3,901,732
				14,075,734
Hotels, Restaurants & Leisure—2.7%
Planet Fitness, Inc. - Class A (a)		95,199		5,143,602

BHFTII-157

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hotels, Restaurants & Leisure—(Continued)
Wingstop, Inc.		72,050	$	4,918,853
				10,062,455
Insurance—2.1%
Kinsale Capital Group, Inc.		68,023		4,343,949
Trupanion, Inc. (a) (b)		97,654		3,489,177
				7,833,126
IT Services—5.0%
Euronet Worldwide, Inc. (a)		29,444		2,950,878
Evo Payments, Inc. - Class A (a)		75,577		1,806,290
InterXion Holding NV (a)		75,317		5,068,834
Virtusa Corp. (a)		82,627		4,437,896
WNS Holdings, Ltd. (ADR) (a)		96,104		4,877,278
				19,141,176
Leisure Products—0.4%
Malibu Boats, Inc. - Class A (a)		29,887		1,635,417
Life Sciences Tools & Services—1.6%
PRA Health Sciences, Inc. (a)		54,919		6,051,525
Machinery—5.1%
Albany International Corp. - Class A		56,229		4,470,206
Harsco Corp. (a)		170,635		4,871,629
Proto Labs, Inc. (a)		33,065		5,348,264
RBC Bearings, Inc. (a)		30,939		4,651,988
				19,342,087
Multiline Retail—1.3%
Ollie’s Bargain Outlet Holdings, Inc. (a) (b)		52,703		5,064,758
Oil, Gas & Consumable Fuels—0.7%
PDC Energy, Inc. (a)		57,134		2,797,281
Pharmaceuticals—1.9%
Aerie Pharmaceuticals, Inc. (a)		52,482		3,230,267
Supernus Pharmaceuticals, Inc. (a) (b)		81,040		4,080,364
				7,310,631
Semiconductors & Semiconductor Equipment—2.7%
MKS Instruments, Inc.		31,714		2,541,877
Monolithic Power Systems, Inc.		32,268		4,050,602
Silicon Laboratories, Inc. (a)		40,815		3,746,817
				10,339,296
Software—14.9%
2U, Inc. (a)		42,827		3,220,162
Blackbaud, Inc. (b)		36,735		3,727,868
Envestnet, Inc. (a)		75,365		4,593,497
Five9, Inc. (a)		114,225		4,990,490
Guidewire Software, Inc. (a)		49,067		4,956,258
HubSpot, Inc. (a)		28,299		4,271,734

Security Description	Shares/ Principal Amount*		Value
Software—(Continued)
Mimecast, Ltd. (a)		119,102	$	4,987,992
Q2 Holdings, Inc. (a)		90,104		5,455,797
Rapid7, Inc. (a)		122,483		4,522,072
RealPage, Inc. (a)		82,641		5,446,042
RingCentral, Inc. - Class A (a)		52,932		4,925,323
Talend S.A. (ADR) (a)		53,442		3,727,045
Varonis Systems, Inc. (a)		26,028		1,906,551
				56,730,831
Specialty Retail—2.2%
At Home Group, Inc. (a) (b)		115,764		3,650,039
National Vision Holdings, Inc. (a)		105,186		4,748,096
				8,398,135
Textiles, Apparel & Luxury Goods—4.3%
Columbia Sportswear Co.		48,605		4,523,667
Crocs, Inc. (a)		168,597		3,589,430
G-III Apparel Group, Ltd. (a)		95,129		4,584,267
Steven Madden, Ltd.		68,299		3,613,017
				16,310,381
Thrifts & Mortgage Finance—0.6%
Essent Group, Ltd. (a)		48,587		2,149,975
Trading Companies & Distributors—1.8%
BMC Stock Holdings, Inc. (a)		125,252		2,335,950
SiteOne Landscape Supply, Inc. (a) (b)		60,937		4,590,993
				6,926,943
Total Common Stocks (Cost $234,685,179)				374,503,515
Short-Term Investment—1.8%
Repurchase Agreement—1.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $7,002,408; collateralized by U.S. Treasury Note at 2.250%, maturing 10/31/24, with a market value of $7,142,608.		7,001,825		7,001,825
Total Short-Term Investments (Cost $7,001,825)				7,001,825
Securities Lending Reinvestments (c)—19.3%
Certificates of Deposit—6.7%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		1,250,000		1,249,979
Banco Santander S.A. 2.340%, 11/07/18		1,499,962		1,500,123
Bank of Montreal Zero Coupon, 10/31/18		997,869		998,062

BHFTII-158

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		1,000,000	$	999,998
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (d)		1,250,000		1,251,193
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (d)		3,000,000		2,999,391
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,000,000		1,000,075
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (d)		500,000		500,020
Credit Industriel et Commercial Zero Coupon, 01/25/19		987,228		992,030
Credit Industriel et Commercial (NY) 2.364%, 1M LIBOR + 0.250%, 02/05/19 (d)		1,500,000		1,500,709
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,000,000		1,000,013
2.500%, 11/15/18		1,000,000		999,976
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		1,000,000		1,000,002
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (d)		1,000,000		999,967
Royal Bank of Canada New York 2.381%, 1M LIBOR + 0.250%, 01/11/19 (d)		2,000,000		2,000,660
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (d)		1,500,000		1,499,929
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		1,000,000		1,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (d)		2,000,000		2,000,228
2.475%, 3M LIBOR + 0.140%, 10/26/18 (d)		500,000		500,083
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,500,000		1,500,797
				25,493,235
Commercial Paper—2.2%
Bank of China, Ltd. 2.550%, 10/19/18		1,987,675		1,997,432
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (d)		2,000,000		2,000,206
Sheffield Receivables Co. 2.490%, 11/26/18		493,464		498,080
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000		997,834
Starbird Funding Corp. 2.280%, 11/08/18		1,491,450		1,496,169
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		1,500,000		1,501,384
				8,491,105
Repurchase Agreements—8.8%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $1,010,506; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $1,054,286.		1,000,000		1,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Inc. Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $1,007,139; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000	$	1,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $210,653; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $204,000.		200,000		200,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,200,224; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $1,224,000.		1,200,000		1,200,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $700,131; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $714,000.		700,000		700,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,100,205; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $1,122,000.		1,100,000		1,100,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $713,191; collateralized by various Common Stock with an aggregate market value of $779,326.		700,000		700,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $702,776; collateralized by various Common Stock with an aggregate market value of $777,872.		700,000		700,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,209,235; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,232,253.		1,209,013		1,209,013
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $530,071; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $3,376,952; collateralized by various Common Stock with an aggregate market value of $3,575,000.		3,250,000		3,250,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $6,002,882; collateralized by various Common Stock with an aggregate market value of $6,601,286.		6,000,000		6,000,000

BHFTII-159

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $1,325,773; collateralized by various Common Stock with an aggregate market value of $1,446,452.		1,300,000	$	1,300,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $1,114,229; collateralized by various Common Stock with an aggregate market value of $1,223,921.		1,100,000		1,100,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $1,005,201; collateralized by various Common Stock with an aggregate market value of $1,112,744.		1,000,000		1,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $1,507,703; collateralized by various Common Stock with an aggregate market value of $1,669,116.		1,500,000		1,500,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $1,519,924; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,665,973.		1,500,000		1,500,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $1,822,985; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,999,167.		1,800,000		1,800,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $1,923,652; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,110,232.		1,900,000		1,900,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,922,798; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,110,232.		1,900,000		1,900,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $1,206,786; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,332,778.		1,200,000		1,200,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $1,011,050; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $1,514,430; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,665,973.		1,500,000	$	1,500,000
				33,259,013
Time Deposits—1.6%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		2,000,000		2,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Erste Group Bank AG 2.170%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				6,000,000
Total Securities Lending Reinvestments (Cost $73,238,800)				73,243,353
Total Investments—119.6% (Cost $314,925,804)				454,748,693
Other assets and liabilities (net)—(19.6)%				(74,637,827	)
Net Assets—100.0%			$	380,110,866

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $72,313,124 and the collateral received consisted of cash in the amount of $73,210,661. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate

BHFTII-160

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	374,503,515	$	—		$	—	$	374,503,515
Total Short-Term Investment*		—		7,001,825			—		7,001,825
Total Securities Lending Reinvestments*		—		73,243,353			—		73,243,353
Total Investments	$	374,503,515	$	80,245,178		$	—	$	454,748,693
Collateral for Securities Loaned (Liability)	$	—	$	(73,210,661	)	$	—	$	(73,210,661	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-161

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

U.S. Treasury & Government Agencies—68.0% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—28.5%
Fannie Mae 15 Yr. Pool 2.500%, 12/01/27		2,589,304	$	2,525,889
2.500%, 02/01/28		2,130,479		2,078,301
2.500%, 07/01/28		3,699,111		3,606,698
2.500%, 10/01/28		2,289,960		2,232,751
2.500%, 03/01/30		2,465,991		2,387,214
2.500%, 09/01/31		3,820,268		3,688,795
2.500%, 01/01/32		1,233,866		1,191,403
2.500%, 04/01/32		2,573,412		2,483,598
2.500%, 09/01/32		874,211		843,700
3.000%, 01/01/27		973,831		967,581
3.000%, 02/01/27		1,635,456		1,624,960
3.000%, 03/01/27		841,113		834,690
3.000%, 01/01/29		3,990,257		3,956,314
3.000%, 10/01/29		1,830,883		1,813,910
3.000%, 06/01/30		2,151,478		2,128,394
3.000%, 02/01/33		4,671,278		4,615,179
3.500%, 02/01/26		1,370,750		1,380,650
3.500%, 03/01/26		646,723		651,123
3.500%, 05/01/29		1,600,482		1,613,179
3.500%, 08/01/32		807,622		812,524
4.000%, 04/01/19		4,717		4,717
4.000%, 05/01/19		16,912		16,928
4.000%, 01/01/20		63,744		63,905
4.000%, 06/01/24		188,083		191,944
4.000%, 11/01/24		1,153,492		1,177,170
4.500%, 05/01/19		8,612		8,619
4.500%, 08/01/24		294,853		302,301
4.500%, 06/01/25		562,372		577,566
5.000%, 01/01/19		4,161		4,161
5.000%, 02/01/20		38,682		39,014
5.000%, 01/01/22		61,661		62,917
5.000%, 02/01/24		274,941		281,262
Fannie Mae 20 Yr. Pool 3.000%, 02/01/33		1,439,489		1,416,032
3.000%, 08/01/35		2,038,379		1,990,072
3.000%, 05/01/36		2,879,028		2,805,670
3.500%, 04/01/32		1,287,448		1,289,975
3.500%, 09/01/35		1,912,978		1,910,075
3.500%, 07/01/38		2,453,889		2,440,058
4.000%, 02/01/31		564,736		578,308
4.000%, 03/01/38		1,849,946		1,884,506
4.000%, 07/01/38		2,455,855		2,501,713
4.500%, 08/01/30		344,819		358,389
5.000%, 02/01/24		117,177		122,980
5.000%, 09/01/25		102,198		107,289
5.500%, 07/01/23		69,540		74,122
5.500%, 01/01/24		46,509		49,574
5.500%, 07/01/24		124,541		132,769
5.500%, 07/01/25		117,330		125,115
7.000%, 10/01/21		3,740		3,889
Fannie Mae 30 Yr. Pool 2.500%, 08/01/46		3,508,865		3,252,774
3.000%, 08/01/42		1,339,936		1,293,202
3.000%, 09/01/42		1,732,736		1,672,302
3.000%, 11/01/42		2,073,591		2,001,269

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
3.000%, 12/01/42		4,243,112	$	4,095,122
3.000%, 01/01/43		1,021,188		985,572
3.000%, 02/01/43		3,986,693		3,847,646
3.000%, 03/01/43		4,171,204		4,025,330
3.000%, 05/01/43		3,115,478		3,006,525
3.000%, 07/01/43		8,669,519		8,366,330
3.000%, 09/01/43		1,619,490		1,562,854
3.000%, 05/01/45		2,885,177		2,770,133
3.000%, 05/01/46		3,070,301		2,941,657
3.000%, 06/01/46		3,994,445		3,827,079
3.000%, 08/01/46		4,032,027		3,863,086
3.000%, 10/01/46		8,503,433		8,147,141
3.000%, 02/01/47		8,967,099		8,591,380
3.500%, 12/01/40		1,573,535		1,564,180
3.500%, 03/01/42		1,075,503		1,067,120
3.500%, 04/01/42		2,347,901		2,329,601
3.500%, 05/01/42		2,552,214		2,532,321
3.500%, 06/01/42		1,885,800		1,871,102
3.500%, 08/01/42		1,225,304		1,215,754
3.500%, 09/01/42		3,883,749		3,853,479
3.500%, 10/01/42		1,956,945		1,941,692
3.500%, 01/01/43		1,561,924		1,549,750
3.500%, 02/01/43		2,480,878		2,461,542
3.500%, 04/01/43		2,906,332		2,879,642
3.500%, 06/01/43		1,518,187		1,499,072
3.500%, 08/01/44		1,908,036		1,885,818
3.500%, 02/01/45		2,563,503		2,533,652
3.500%, 03/01/45		4,278,343		4,225,635
3.500%, 04/01/45		4,910,335		4,847,131
3.500%, 09/01/45		8,991,683		8,875,946
3.500%, 11/01/45		3,041,469		3,002,321
3.500%, 01/01/46		3,526,420		3,481,029
3.500%, 03/01/46		3,483,876		3,437,162
3.500%, 05/01/46		2,793,655		2,756,197
3.500%, 04/01/47		7,683,499		7,565,531
3.500%, 09/01/47		3,576,085		3,521,180
3.500%, 11/01/47		6,432,346		6,333,588
3.500%, 03/01/48		7,729,845		7,610,591
4.000%, 08/01/39		842,375		859,411
4.000%, 09/01/39		758,352		773,689
4.000%, 12/01/39		907,394		925,745
4.000%, 06/01/40		1,159,741		1,182,384
4.000%, 09/01/40		604,862		616,671
4.000%, 12/01/40		4,339,687		4,424,412
4.000%, 01/01/41		2,242,211		2,285,987
4.000%, 02/01/41		2,835,255		2,890,609
4.000%, 12/01/41		1,042,368		1,062,105
4.000%, 02/01/42		1,176,688		1,198,969
4.000%, 09/01/43		1,633,117		1,661,429
4.000%, 02/01/44		2,676,536		2,722,936
4.000%, 05/01/44		1,784,402		1,811,805
4.000%, 08/01/44		2,548,194		2,587,327
4.000%, 10/01/44		1,541,762		1,565,439
4.000%, 11/01/44		2,998,162		3,037,729
4.000%, 01/01/45		2,512,192		2,550,772

BHFTII-162

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.000%, 03/01/45		1,675,410	$	1,696,796
4.000%, 10/01/45		2,806,144		2,841,965
4.000%, 03/01/47		1,111,143		1,122,754
4.000%, 05/01/47		1,567,436		1,583,816
4.000%, 06/01/47		8,227,691		8,313,668
4.000%, 07/01/47		2,058,432		2,079,942
4.000%, 10/01/47		2,645,620		2,673,266
4.000%, 05/01/48		3,843,644		3,883,186
4.000%, 06/01/48		1,468,575		1,483,683
4.000%, 09/01/48		1,667,918		1,685,077
4.000%, 10/01/48		2,500,000		2,527,169
4.500%, 08/01/33		184,891		192,150
4.500%, 10/01/33		170,770		177,474
4.500%, 04/01/34		67,177		69,975
4.500%, 01/01/39		84,302		87,752
4.500%, 07/01/39		1,180,010		1,228,387
4.500%, 09/01/39		1,739,453		1,810,767
4.500%, 10/01/39		743,465		773,945
4.500%, 05/01/40		1,052,473		1,098,026
4.500%, 08/01/40		1,658,336		1,727,470
4.500%, 11/01/40		873,228		909,632
4.500%, 12/01/40		1,598,841		1,665,494
4.500%, 04/01/41		3,886,505		4,046,462
4.500%, 05/01/41		976,307		1,016,073
4.500%, 03/01/44		1,052,274		1,090,724
4.500%, 08/01/47		2,311,293		2,387,022
4.500%, 08/01/48		3,816,280		3,940,662
5.000%, 07/01/33		88,141		93,565
5.000%, 08/01/33		380,245		405,592
5.000%, 09/01/33		149,988		159,218
5.000%, 10/01/33		1,543,771		1,648,068
5.000%, 03/01/34		176,145		186,985
5.000%, 04/01/34		419,021		445,193
5.000%, 05/01/34		50,790		53,996
5.000%, 09/01/34		197,472		209,939
5.000%, 02/01/35		70,762		75,229
5.000%, 04/01/35		98,595		104,816
5.000%, 05/01/35		40,835		43,411
5.000%, 11/01/35		102,133		108,577
5.000%, 03/01/36		404,604		430,131
5.000%, 07/01/37		353,513		374,454
5.000%, 01/01/39		303,969		321,976
5.000%, 04/01/40		1,110,533		1,180,356
5.000%, 07/01/41		733,756		779,878
5.500%, 10/01/32		39,033		41,828
5.500%, 02/01/33		76,313		82,373
5.500%, 03/01/33		308,068		333,931
5.500%, 05/01/33		1,385,572		1,496,644
5.500%, 08/01/33		510,953		553,583
5.500%, 10/01/33		60,146		64,967
5.500%, 12/01/33		553,538		600,614
5.500%, 02/01/34		109,773		118,712
5.500%, 03/01/34		94,027		101,685
5.500%, 04/01/34		38,022		41,118
5.500%, 06/01/34		162,043		175,239
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.500%, 09/01/34		145,824		157,699
5.500%, 12/01/34		341,793		369,627
5.500%, 01/01/35		109,774		118,713
5.500%, 02/01/35		273,738		296,030
5.500%, 04/01/35		104,414		113,065
5.500%, 06/01/35		591,547		640,558
5.500%, 01/01/37		139,343		150,902
5.500%, 05/01/37		113,225		122,983
5.500%, 05/01/38		74,802		81,338
5.500%, 06/01/38		89,282		97,083
5.500%, 07/01/38		53,228		57,879
6.000%, 08/01/28		2,151		2,163
6.000%, 11/01/28		477		503
6.000%, 12/01/28		633		679
6.000%, 06/01/31		33,912		35,380
6.000%, 09/01/32		63,574		69,019
6.000%, 01/01/33		16,758		18,149
6.000%, 02/01/33		54,810		59,225
6.000%, 03/01/33		80,064		82,316
6.000%, 04/01/33		192,993		203,282
6.000%, 05/01/33		153,047		160,906
6.000%, 05/01/34		135,981		142,272
6.000%, 09/01/34		116,213		122,800
6.000%, 11/01/34		214,889		234,099
6.000%, 01/01/35		63,356		67,834
6.000%, 07/01/36		31,319		34,124
6.000%, 09/01/36		103,165		112,501
6.000%, 07/01/37		46,313		48,094
6.000%, 08/01/37		147,720		160,828
6.000%, 09/01/37		304,009		330,063
6.000%, 10/01/37		105,060		114,304
6.000%, 05/01/38		409,905		446,668
6.000%, 12/01/38		98,346		106,947
6.500%, 05/01/28		34,599		37,486
6.500%, 12/01/28		106,097		111,540
6.500%, 03/01/29		2,361		2,534
6.500%, 04/01/29		19,569		21,255
6.500%, 05/01/29		4,475		4,872
6.500%, 08/01/29		759		812
6.500%, 05/01/30		13,415		13,713
6.500%, 09/01/31		3,713		3,860
6.500%, 06/01/32		15,885		17,523
6.500%, 10/01/33		63,296		67,688
6.500%, 10/01/34		185,770		205,273
6.500%, 10/01/37		56,478		62,186
7.000%, 06/01/26		314		327
7.000%, 06/01/28		6,400		6,508
7.000%, 10/01/29		6,071		6,705
7.000%, 12/01/29		3,126		3,254
7.000%, 06/01/32		44,121		48,971
7.000%, 10/01/37		123,701		139,564
7.500%, 09/01/25		3,129		3,385
7.500%, 06/01/26		2,747		2,988
7.500%, 07/01/29		7,687		8,496
7.500%, 10/01/29		4,136		4,346

BHFTII-163

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
8.000%, 11/01/29		93	$	105
8.000%, 05/01/30		15,457		16,288
8.000%, 11/01/30		1,950		2,186
8.000%, 01/01/31		1,592		1,761
8.000%, 02/01/31		3,899		4,414
Fannie Mae-ACES (CMO) 2.679%, 05/25/21 (a)		4,390,730		4,335,399
Freddie Mac 15 Yr. Gold Pool 2.500%, 12/01/27		1,203,352		1,173,366
2.500%, 02/01/28		1,994,082		1,943,385
2.500%, 04/01/28		1,665,601		1,623,255
2.500%, 12/01/29		2,462,152		2,387,659
2.500%, 01/01/31		3,260,621		3,155,093
2.500%, 01/01/32		4,967,284		4,794,122
3.000%, 03/01/27		913,267		905,388
3.000%, 05/01/27		1,224,917		1,212,859
3.000%, 11/01/28		1,511,966		1,495,758
3.000%, 12/01/29		2,720,285		2,689,039
3.000%, 05/01/31		3,235,816		3,190,966
3.000%, 10/01/32		1,776,382		1,751,082
3.500%, 12/01/25		965,879		972,544
3.500%, 05/01/26		339,197		341,395
3.500%, 09/01/30		2,170,747		2,186,275
4.000%, 06/01/19		19,374		19,387
4.000%, 05/01/25		513,023		523,688
4.000%, 08/01/25		234,388		239,261
4.000%, 10/01/25		258,928		264,490
4.500%, 04/01/19		21,639		21,688
4.500%, 06/01/19		21,127		21,150
4.500%, 08/01/19		3,894		3,905
5.000%, 06/01/19		21,528		21,628
5.500%, 01/01/24		219,853		228,204
Freddie Mac 20 Yr. Gold Pool 3.000%, 04/01/33		2,245,073		2,205,516
3.000%, 02/01/37		2,569,402		2,503,789
3.500%, 04/01/32		1,659,696		1,663,241
4.000%, 01/01/31		631,072		646,261
4.000%, 08/01/31		623,383		637,075
4.500%, 05/01/29		160,149		166,410
5.000%, 03/01/27		84,864		89,425
Freddie Mac 30 Yr. Gold Pool 2.500%, 07/01/43		2,308,282		2,154,760
3.000%, 10/01/42		2,100,463		2,027,074
3.000%, 01/01/43		2,011,887		1,941,593
3.000%, 03/01/43		5,277,999		5,093,237
3.000%, 04/01/43		3,661,296		3,533,014
3.000%, 06/01/43		1,678,639		1,619,824
3.000%, 07/01/43		3,236,592		3,123,191
3.000%, 06/01/45		3,625,030		3,480,214
3.000%, 01/01/46		2,264,900		2,174,420
3.000%, 06/01/46		3,959,086		3,792,998
3.000%, 10/01/46		3,292,174		3,154,063
3.000%, 11/01/46		4,183,961		4,008,439
3.000%, 01/01/47		6,680,860		6,400,589
3.000%, 02/01/47		3,673,634		3,519,521

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
3.500%, 01/01/42		1,127,825	$	1,119,255
3.500%, 03/01/42		1,020,831		1,013,056
3.500%, 08/01/42		2,690,662		2,670,170
3.500%, 02/01/43		1,485,762		1,474,447
3.500%, 05/01/43		2,287,661		2,267,067
3.500%, 06/01/43		1,325,090		1,313,161
3.500%, 06/01/44		1,669,815		1,650,671
3.500%, 10/01/44		1,801,000		1,780,352
3.500%, 11/01/44		2,582,192		2,552,589
3.500%, 12/01/44		2,417,920		2,390,200
3.500%, 05/01/45		2,990,876		2,952,940
3.500%, 08/01/45		3,287,038		3,245,346
3.500%, 11/01/45		3,183,936		3,143,552
3.500%, 12/01/45		1,931,216		1,906,720
3.500%, 03/01/46		5,944,618		5,867,769
3.500%, 02/01/47		4,144,020		4,089,250
3.500%, 06/01/47		3,479,318		3,426,530
3.500%, 08/01/47		2,219,216		2,185,546
3.500%, 10/01/47		2,763,596		2,721,667
3.500%, 11/01/47		2,732,998		2,691,533
3.500%, 01/01/48		2,807,610		2,765,013
3.500%, 02/01/48		5,751,933		5,664,665
4.000%, 06/01/39		574,382		586,006
4.000%, 12/01/39		876,356		894,091
4.000%, 11/01/40		905,931		923,636
4.000%, 04/01/41		924,126		941,650
4.000%, 09/01/41		940,336		958,168
4.000%, 10/01/41		2,099,349		2,139,160
4.000%, 11/01/41		861,850		878,194
4.000%, 10/01/43		2,574,950		2,619,673
4.000%, 07/01/44		2,562,977		2,602,431
4.000%, 10/01/44		1,948,711		1,978,709
4.000%, 07/01/45		3,084,669		3,124,121
4.000%, 01/01/46		3,115,703		3,155,551
4.000%, 02/01/46		1,672,513		1,693,903
4.000%, 06/01/47		3,672,635		3,711,101
4.000%, 10/01/47		1,757,160		1,776,214
4.000%, 11/01/47		1,757,125		1,775,528
4.000%, 03/01/48		2,797,534		2,826,834
4.000%, 05/01/48		1,925,071		1,944,935
4.500%, 10/01/35		278,167		290,049
4.500%, 06/01/38		420,313		438,266
4.500%, 02/01/39		317,392		330,663
4.500%, 03/01/39		256,355		267,030
4.500%, 04/01/39		475,374		495,170
4.500%, 09/01/39		524,609		546,455
4.500%, 10/01/39		1,370,262		1,427,323
4.500%, 11/01/39		401,955		418,694
4.500%, 01/01/40		313,307		326,354
4.500%, 05/01/40		530,785		553,250
4.500%, 11/01/40		816,572		851,133
4.500%, 02/01/41		198,348		206,559
4.500%, 05/01/41		471,707		491,233
4.500%, 06/01/41		343,402		357,616
4.500%, 12/01/43		771,542		801,257

BHFTII-164

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
4.500%, 12/01/45		965,359	$	1,001,282
4.500%, 08/01/47		2,381,835		2,461,376
4.500%, 08/01/48		1,482,611		1,531,873
4.500%, 10/01/48		2,500,000		2,583,067
5.000%, 10/01/33		442,494		469,789
5.000%, 03/01/34		68,818		73,166
5.000%, 08/01/35		299,827		318,769
5.000%, 09/01/35		126,145		134,114
5.000%, 10/01/35		93,629		99,544
5.000%, 01/01/36		330,540		351,421
5.000%, 04/01/38		223,065		236,604
5.000%, 11/01/39		1,021,547		1,084,892
5.000%, 05/01/40		1,315,913		1,398,759
5.500%, 06/01/34		189,285		204,184
5.500%, 10/01/35		134,099		144,851
5.500%, 12/01/35		360,400		389,297
5.500%, 01/01/36		262,430		283,473
5.500%, 12/01/37		259,005		279,757
5.500%, 04/01/38		1,121,272		1,216,148
5.500%, 07/01/38		125,575		136,201
5.500%, 08/01/38		328,876		356,704
6.000%, 11/01/28		4,980		5,313
6.000%, 12/01/28		4,032		4,326
6.000%, 04/01/29		1,847		1,947
6.000%, 06/01/31		1,890		1,999
6.000%, 07/01/31		540		584
6.000%, 09/01/31		52,841		55,041
6.000%, 11/01/32		18,221		19,727
6.000%, 06/01/34		66,010		69,465
6.000%, 11/01/35		64,414		70,135
6.000%, 02/01/36		124,692		133,977
6.000%, 08/01/36		33,806		36,825
6.000%, 10/01/36		100,578		109,531
6.000%, 11/01/36		46,143		48,634
6.000%, 01/01/37		45,569		48,805
6.000%, 02/01/38		112,127		121,772
6.000%, 11/01/39		924,654		1,006,985
6.000%, 04/01/40		313,215		341,917
6.500%, 02/01/30		4,788		5,107
6.500%, 08/01/31		5,901		6,497
6.500%, 10/01/31		6,491		6,745
6.500%, 11/01/31		13,243		14,587
6.500%, 03/01/32		289,347		319,142
6.500%, 04/01/32		219,241		241,313
6.500%, 09/01/36		255,083		282,482
6.500%, 11/01/37		90,791		99,602
7.000%, 12/01/27		887		967
7.000%, 11/01/28		2,384		2,612
7.000%, 04/01/29		2,414		2,659
7.000%, 05/01/29		598		639
7.000%, 06/01/29		5,283		5,514
7.000%, 07/01/29		1,088		1,169
7.000%, 01/01/31		40,376		41,640
7.500%, 08/01/24		6,483		6,507
7.500%, 10/01/27		5,488		6,033

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
7.500%, 10/01/29		8,289	$	9,264
7.500%, 05/01/30		10,922		12,004
8.000%, 02/01/27		2,232		2,468
8.000%, 10/01/28		4,167		4,608
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 2.902%, 08/25/20		520,274		518,880
3.060%, 07/25/23 (a)		4,800,000		4,756,677
3.117%, 06/25/27		2,000,000		1,935,956
3.187%, 09/25/27 (a)		1,265,000		1,227,699
3.194%, 07/25/27		685,000		666,187
Ginnie Mae I 15 Yr. Pool 3.000%, 08/15/28		1,815,063		1,803,098
5.000%, 10/15/20		51,548		52,226
5.000%, 01/15/21		50,438		50,984
Ginnie Mae I 30 Yr. Pool 3.000%, 11/15/42		1,990,401		1,943,134
3.000%, 12/15/42		1,606,754		1,568,597
3.000%, 02/15/43		1,309,946		1,278,838
3.000%, 03/15/43		1,546,828		1,508,407
3.000%, 05/15/43		2,170,281		2,116,374
3.000%, 07/15/43		1,423,296		1,387,943
3.500%, 01/15/42		1,947,232		1,944,464
3.500%, 02/15/42		616,860		617,111
3.500%, 03/15/42		1,383,462		1,384,024
3.500%, 05/15/42		896,999		897,363
3.500%, 09/15/42		1,197,092		1,197,578
3.500%, 05/15/43		1,674,013		1,669,439
4.000%, 07/15/39		1,337,920		1,372,795
4.000%, 07/15/40		789,663		809,025
4.000%, 03/15/41		576,308		591,465
4.000%, 10/15/41		1,126,784		1,156,420
4.500%, 01/15/39		185,048		192,834
4.500%, 04/15/39		626,713		653,202
4.500%, 05/15/39		1,196,220		1,246,779
4.500%, 08/15/39		556,787		580,321
4.500%, 01/15/40		581,808		606,399
4.500%, 04/15/40		594,840		620,610
4.500%, 02/15/41		150,171		156,677
4.500%, 04/15/41		371,041		387,180
5.000%, 12/15/35		208,411		220,425
5.000%, 12/15/36		100,204		105,991
5.000%, 01/15/39		664,301		701,198
5.000%, 02/15/39		119,591		126,233
5.000%, 08/15/39		841,593		889,750
5.000%, 09/15/39		202,340		213,918
5.000%, 12/15/39		433,667		458,482
5.000%, 05/15/40		641,257		677,947
5.500%, 03/15/36		131,683		139,186
5.500%, 01/15/37		263,293		281,089
5.500%, 11/15/37		291,628		311,369
5.500%, 09/15/38		52,168		54,260
5.500%, 08/15/39		764,291		821,669
6.000%, 01/15/29		2,679		2,859
6.000%, 01/15/33		143,262		157,238

BHFTII-165

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae I 30 Yr. Pool
6.000%, 03/15/35		148,976	$	164,119
6.000%, 12/15/35		138,673		151,613
6.000%, 06/15/36		98,564		107,763
6.000%, 09/15/36		110,378		120,855
6.000%, 07/15/38		661,080		723,420
6.500%, 05/15/23		862		864
6.500%, 02/15/27		18,944		20,290
6.500%, 07/15/28		7,741		8,317
6.500%, 08/15/28		8,160		8,833
6.500%, 11/15/28		5,852		6,378
6.500%, 12/15/28		7,986		8,414
6.500%, 07/15/29		1,841		1,903
6.500%, 05/15/36		107,995		118,986
7.000%, 01/15/28		1,153		1,252
7.000%, 05/15/28		7,155		7,520
7.000%, 06/15/28		6,463		7,135
7.000%, 10/15/28		6,477		7,049
7.000%, 09/15/29		1,927		1,962
7.000%, 01/15/31		1,205		1,243
7.000%, 03/15/31		11,145		11,536
7.000%, 07/15/31		284,423		319,436
7.000%, 08/15/31		50,300		56,467
7.000%, 02/15/32		8,340		8,461
7.000%, 07/15/32		13,544		15,335
8.000%, 08/15/26		2,336		2,554
8.000%, 09/15/26		2,245		2,430
8.000%, 06/15/29		20,140		21,439
9.000%, 11/15/24		2,134		2,222
Ginnie Mae II 30 Yr. Pool 3.000%, 12/20/42		1,874,819		1,834,820
3.000%, 03/20/43		2,721,138		2,655,282
3.000%, 12/20/44		2,378,809		2,318,074
3.000%, 04/20/45		2,233,388		2,172,993
3.000%, 08/20/45		3,365,062		3,274,065
3.000%, 11/20/45		1,918,619		1,866,736
3.000%, 01/20/46		3,351,469		3,260,839
3.000%, 09/20/46		3,868,432		3,756,368
3.000%, 10/20/46		3,933,908		3,819,948
3.000%, 11/20/46		4,077,333		3,959,218
3.000%, 01/20/47		9,229,452		8,962,086
3.000%, 04/20/47		1,676,158		1,624,360
3.000%, 02/20/48		2,991,492		2,899,048
3.500%, 12/20/41		1,141,865		1,144,361
3.500%, 03/20/42		2,296,655		2,300,684
3.500%, 08/20/42		1,107,007		1,108,949
3.500%, 01/20/43		3,267,073		3,272,804
3.500%, 04/20/43		1,288,675		1,290,695
3.500%, 05/20/43		2,227,638		2,231,129
3.500%, 07/20/44		2,878,226		2,875,327
3.500%, 02/20/45		3,117,693		3,114,553
3.500%, 06/20/45		1,995,902		1,991,941
3.500%, 08/20/45		4,636,495		4,627,295
3.500%, 09/20/45		5,340,225		5,329,627
3.500%, 10/20/45		3,157,810		3,151,543
3.500%, 12/20/45		2,800,510		2,794,953

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
3.500%, 01/20/46		2,787,492	$	2,781,961
3.500%, 02/20/46		2,302,844		2,298,274
3.500%, 05/20/46		3,181,745		3,171,363
3.500%, 06/20/46		2,698,855		2,690,049
3.500%, 02/20/47		4,396,198		4,381,853
3.500%, 03/20/47		3,976,054		3,955,735
3.500%, 06/20/47		5,079,436		5,053,479
3.500%, 09/20/47		1,809,347		1,800,101
3.500%, 11/20/47		1,836,171		1,826,788
3.500%, 12/20/47		8,520,891		8,477,347
3.500%, 03/20/48		3,417,151		3,399,315
4.000%, 11/20/40		1,085,089		1,113,260
4.000%, 12/20/40		1,286,339		1,319,735
4.000%, 05/20/43		2,017,042		2,065,501
4.000%, 11/20/43		781,760		800,541
4.000%, 02/20/44		2,722,053		2,787,450
4.000%, 04/20/44		1,094,065		1,118,514
4.000%, 05/20/44		1,328,756		1,358,450
4.000%, 09/20/44		2,073,566		2,119,904
4.000%, 10/20/44		2,967,501		3,033,815
4.000%, 11/20/44		580,562		593,536
4.000%, 10/20/45		2,410,495		2,463,300
4.000%, 11/20/45		1,267,176		1,294,936
4.000%, 02/20/47		3,231,695		3,300,792
4.000%, 03/20/47		684,412		699,045
4.000%, 04/20/47		2,792,359		2,841,625
4.000%, 05/20/47		3,008,152		3,061,226
4.000%, 09/20/47		2,591,409		2,637,131
4.000%, 07/20/48		2,384,745		2,426,578
4.000%, 08/20/48		1,660,122		1,689,244
4.000%, 09/20/48		3,000,000		3,051,563
4.500%, 08/20/40		913,264		953,992
4.500%, 12/20/40		584,301		610,358
4.500%, 04/20/41		501,568		524,768
4.500%, 03/20/42		422,423		441,962
4.500%, 10/20/43		635,435		661,296
4.500%, 02/20/44		1,267,678		1,319,271
4.500%, 04/20/45		1,170,844		1,218,496
4.500%, 03/20/47		1,628,880		1,691,382
4.500%, 11/20/47		1,767,830		1,829,194
4.500%, 08/20/48		1,696,686		1,755,714
5.000%, 08/20/40		414,924		441,660
5.000%, 10/20/40		433,954		461,916
5.000%, 06/20/44		961,103		1,023,033
6.500%, 06/20/31		17,054		18,796
6.500%, 11/20/38		352,302		389,458
7.500%, 02/20/28		1,766		1,940
				734,230,588
Federal Agencies—1.7%
Federal Home Loan Bank 1.750%, 06/12/20 (b)		14,700,000		14,443,044
Federal Home Loan Mortgage Corp. 1.125%, 08/12/21 (b)		5,200,000		4,944,888
1.375%, 05/01/20 (b)		5,145,000		5,032,479

BHFTII-166

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Federal Agencies—(Continued)
Federal National Mortgage Association 2.125%, 04/24/26		3,500,000	$	3,259,235
2.375%, 01/19/23 (b)		7,100,000		6,921,577
2.625%, 09/06/24 (b)		2,000,000		1,951,420
6.625%, 11/15/30 (b)		2,450,000		3,242,526
Tennessee Valley Authority 5.250%, 09/15/39 (b)		3,350,000		4,092,092
				43,887,261
U.S. Treasury—37.8%
U.S. Treasury Bonds 2.250%, 08/15/46		3,000,000		2,477,282
2.500%, 02/15/45		7,400,000		6,481,119
2.500%, 02/15/46		8,200,000		7,158,149
2.500%, 05/15/46		4,800,000		4,186,875
2.750%, 08/15/42		2,020,000		1,870,854
2.750%, 11/15/42		3,200,000		2,961,478
2.750%, 08/15/47		3,000,000		2,747,947
2.750%, 11/15/47		7,300,000		6,684,933
2.875%, 05/15/43		5,760,000		5,446,267
2.875%, 08/15/45		5,000,000		4,707,855
2.875%, 11/15/46		4,600,000		4,326,577
3.000%, 11/15/44 (b)		11,000,000		10,617,632
3.000%, 05/15/45		4,500,000		4,342,084
3.000%, 11/15/45		7,700,000		7,427,603
3.000%, 02/15/47		3,000,000		2,891,450
3.000%, 05/15/47		5,800,000		5,587,439
3.000%, 08/15/48 (b)		8,100,000		7,796,815
3.125%, 11/15/41		3,000,000		2,970,166
3.125%, 02/15/42		1,800,000		1,781,601
3.125%, 02/15/43		3,270,000		3,230,724
3.125%, 08/15/44		4,700,000		4,640,692
3.125%, 05/15/48		1,900,000		1,875,192
3.375%, 05/15/44		3,000,000		3,093,324
3.500%, 02/15/39		2,080,000		2,191,529
3.625%, 08/15/43		2,600,000		2,789,886
3.625%, 02/15/44		8,020,000		8,614,993
3.750%, 08/15/41		1,830,000		1,997,310
3.750%, 11/15/43		2,600,000		2,847,141
3.875%, 08/15/40		5,380,000		5,973,071
4.250%, 05/15/39		2,500,000		2,915,738
4.250%, 11/15/40 (b)		4,280,000		5,008,111
4.375%, 11/15/39		3,900,000		4,628,566
4.375%, 05/15/40		3,220,000		3,825,908
4.375%, 05/15/41		3,850,000		4,589,230
4.500%, 02/15/36 (b)		1,600,000		1,898,618
4.500%, 05/15/38 (b)		4,950,000		5,939,911
5.000%, 05/15/37		1,560,000		1,974,401
5.250%, 02/15/29		750,000		895,367
5.375%, 02/15/31		3,675,000		4,541,618
6.125%, 11/15/27		1,750,000		2,177,149
6.250%, 08/15/23		7,700,000		8,853,177
6.250%, 05/15/30		2,500,000		3,274,316
6.375%, 08/15/27		2,900,000		3,648,169
6.500%, 11/15/26		2,500,000		3,124,738

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Bonds
7.125%, 02/15/23		11,125,000	$	13,026,342
7.250%, 08/15/22		6,120,000		7,084,559
7.875%, 02/15/21 (b)		4,450,000		4,959,757
8.000%, 11/15/21		2,920,000		3,363,377
8.125%, 08/15/21		1,250,000		1,429,975
8.500%, 02/15/20		6,700,000		7,217,561
8.750%, 08/15/20		1,000,000		1,107,259
U.S. Treasury Notes 1.125%, 02/28/21		10,100,000		9,694,477
1.125%, 06/30/21		14,200,000		13,549,959
1.125%, 07/31/21		12,300,000		11,718,041
1.125%, 08/31/21		6,300,000		5,992,824
1.250%, 10/31/19		5,130,000		5,052,048
1.250%, 01/31/20		7,000,000		6,865,396
1.250%, 03/31/21		6,100,000		5,865,355
1.250%, 07/31/23		8,600,000		7,947,243
1.375%, 01/31/20		17,100,000		16,799,580
1.375%, 03/31/20		16,000,000		15,676,915
1.375%, 04/30/20		11,000,000		10,762,955
1.375%, 08/31/20		14,900,000		14,502,488
1.500%, 08/15/20 (b)		2,000,000		1,952,724
1.500%, 02/28/23		7,200,000		6,773,138
1.500%, 08/15/26 (b)		10,600,000		9,465,526
1.625%, 12/31/19 (b)		14,800,000		14,603,338
1.625%, 11/30/20		5,000,000		4,873,204
1.625%, 11/15/22		5,000,000		4,747,107
1.625%, 05/31/23		7,900,000		7,449,393
1.625%, 02/15/26		8,300,000		7,533,498
1.625%, 05/15/26		10,900,000		9,861,677
1.750%, 10/31/20		10,000,000		9,782,319
1.750%, 12/31/20 (b)		14,800,000		14,449,633
1.750%, 11/30/21		11,000,000		10,620,934
1.750%, 02/28/22		9,000,000		8,664,590
1.750%, 05/15/22		8,000,000		7,680,707
1.750%, 05/31/22		5,100,000		4,894,379
1.750%, 05/15/23		22,720,000		21,552,450
1.875%, 12/31/19		8,100,000		8,017,775
1.875%, 02/28/22		15,000,000		14,500,266
1.875%, 03/31/22		11,000,000		10,623,664
1.875%, 04/30/22		7,000,000		6,754,489
1.875%, 07/31/22		11,100,000		10,681,119
1.875%, 08/31/22		7,400,000		7,113,512
1.875%, 09/30/22		3,000,000		2,881,273
2.000%, 11/30/20		14,800,000		14,540,363
2.000%, 02/28/21		5,000,000		4,900,430
2.000%, 10/31/21		6,000,000		5,844,171
2.000%, 02/15/22		3,800,000		3,690,562
2.000%, 11/30/22 (b)		14,700,000		14,164,331
2.000%, 02/15/23 (b)		6,900,000		6,635,679
2.000%, 05/31/24		8,400,000		7,975,639
2.000%, 06/30/24		7,300,000		6,924,580
2.000%, 02/15/25		16,300,000		15,355,232
2.000%, 08/15/25		14,100,000		13,215,094
2.000%, 11/15/26		7,300,000		6,755,435
2.125%, 08/31/20		5,800,000		5,725,177

BHFTII-167

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes
2.125%, 06/30/21		12,000,000	$	11,765,010
2.125%, 08/15/21		8,710,000		8,529,754
2.125%, 12/31/21		11,900,000		11,616,800
2.125%, 12/31/22		7,200,000		6,966,937
2.125%, 02/29/24		12,000,000		11,497,701
2.125%, 03/31/24		6,200,000		5,936,343
2.125%, 05/15/25		11,100,000		10,513,025
2.250%, 02/15/21		11,000,000		10,847,878
2.250%, 07/31/21 (b)		13,000,000		12,779,044
2.250%, 11/15/24		18,100,000		17,350,217
2.250%, 11/15/25		10,800,000		10,267,648
2.250%, 02/15/27		9,900,000		9,319,686
2.250%, 08/15/27		2,100,000		1,969,401
2.250%, 11/15/27		15,600,000		14,602,113
2.375%, 12/31/20		7,600,000		7,522,972
2.375%, 08/15/24		15,900,000		15,378,985
2.375%, 05/15/27 (b)		8,000,000		7,595,999
2.500%, 06/30/20 (b)		7,000,000		6,965,122
2.500%, 08/15/23		14,400,000		14,109,021
2.500%, 05/15/24		10,000,000		9,756,129
2.625%, 08/15/20		6,000,000		5,979,316
2.750%, 09/30/20		16,000,000		15,979,407
2.750%, 11/15/23		19,335,000		19,151,419
2.750%, 02/15/24		5,600,000		5,541,287
2.750%, 02/15/28		9,100,000		8,873,143
2.875%, 05/15/28		6,000,000		5,909,898
3.375%, 11/15/19		4,350,000		4,382,337
3.500%, 05/15/20 (b)		25,390,000		25,674,942
3.625%, 02/15/20		17,190,000		17,392,746
3.625%, 02/15/21		1,500,000		1,525,998
				976,532,802
Total U.S. Treasury & Government Agencies (Cost $1,818,785,935)				1,754,650,651
Corporate Bonds & Notes—27.2%
Aerospace/Defense—0.5%
Boeing Co. (The) 7.250%, 06/15/25		460,000		550,422
Lockheed Martin Corp. 3.550%, 01/15/26		1,000,000		988,670
4.090%, 09/15/52		3,454,000		3,304,338
Northrop Grumman Corp. 3.250%, 01/15/28		1,100,000		1,034,033
Northrop Grumman Systems Corp. 7.750%, 02/15/31		515,000		680,526
Raytheon Co. 3.125%, 10/15/20 (b)		1,000,000		999,860
United Technologies Corp. 3.125%, 05/04/27 (b)		2,000,000		1,865,580
4.500%, 06/01/42		2,645,000		2,612,123
7.500%, 09/15/29		200,000		253,740
				12,289,292

Security Description	Principal Amount*		Value
Agriculture—0.4%
Altria Group, Inc. 4.000%, 01/31/24		1,000,000	$	1,014,120
Archer-Daniels-Midland Co. 4.479%, 03/01/21 (b)		2,000,000		2,056,740
Philip Morris International, Inc. 3.250%, 11/10/24 (b)		3,000,000		2,932,980
4.500%, 03/26/20		925,000		943,778
Reynolds American, Inc. 4.450%, 06/12/25		3,800,000		3,824,358
				10,771,976
Auto Manufacturers—0.6%
American Honda Finance Corp. 2.300%, 09/09/26		1,100,000		990,627
Daimler Finance North America LLC 8.500%, 01/18/31		1,050,000		1,461,527
Ford Motor Co. 7.450%, 07/16/31		2,200,000		2,445,058
Ford Motor Credit Co. LLC 2.597%, 11/04/19		3,000,000		2,973,240
General Motors Financial Co., Inc. 2.400%, 05/09/19		2,500,000		2,492,800
Toyota Motor Credit Corp. 3.300%, 01/12/22		4,000,000		3,999,280
				14,362,532
Banks—6.3%
Bank of America Corp. 2.625%, 04/19/21 (b)		1,000,000		983,170
3.300%, 01/11/23		4,075,000		4,016,564
4.100%, 07/24/23 (b)		2,905,000		2,960,602
4.200%, 08/26/24		3,000,000		3,010,290
5.875%, 02/07/42		3,000,000		3,543,840
Bank of Montreal 1.900%, 08/27/21		1,000,000		960,340
Bank of Nova Scotia (The) 2.700%, 03/07/22 (b)		3,000,000		2,925,390
Barclays plc 4.375%, 01/12/26		3,500,000		3,389,085
BNP Paribas S.A. 5.000%, 01/15/21		3,225,000		3,335,843
Branch Banking & Trust Co. 2.850%, 04/01/21		3,400,000		3,359,064
Capital One N.A. 2.250%, 09/13/21 (b)		3,000,000		2,885,340
Citigroup, Inc. 2.700%, 03/30/21 (b)		2,000,000		1,965,320
3.200%, 10/21/26		1,700,000		1,587,035
4.125%, 07/25/28		3,000,000		2,895,030
4.750%, 05/18/46		4,400,000		4,304,300
5.375%, 08/09/20		2,200,000		2,281,796
Cooperatieve Rabobank UA 5.250%, 05/24/41		1,640,000		1,841,900
Credit Suisse AG 4.375%, 08/05/20		2,611,000		2,657,580

BHFTII-168

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Credit Suisse Group Funding Guernsey, Ltd. 3.800%, 09/15/22		3,000,000	$	2,982,900
Deutsche Bank AG 4.250%, 10/14/21		900,000		894,186
Fifth Third Bancorp 8.250%, 03/01/38		1,175,000		1,598,764
Goldman Sachs Group, Inc. (The) 2.300%, 12/13/19		3,000,000		2,973,720
3.850%, 01/26/27		1,900,000		1,844,444
4.000%, 03/03/24		2,000,000		2,005,680
4.017%, 3M LIBOR + 1.373%, 10/31/38 (a)		2,000,000		1,849,160
6.000%, 06/15/20		2,000,000		2,087,980
6.125%, 02/15/33		2,075,000		2,439,453
HSBC Holdings plc 5.100%, 04/05/21		2,556,000		2,655,275
5.250%, 03/14/44		900,000		941,841
6.500%, 09/15/37		905,000		1,073,719
HSBC USA, Inc. 2.350%, 03/05/20		3,000,000		2,967,030
JPMorgan Chase & Co. 2.950%, 10/01/26		2,000,000		1,857,520
3.250%, 09/23/22		2,850,000		2,824,749
3.882%, 3M LIBOR + 1.360%, 07/24/38 (a)		2,100,000		1,957,263
3.900%, 07/15/25		4,700,000		4,694,689
4.950%, 03/25/20		2,650,000		2,718,344
KeyBank N.A. 3.300%, 06/01/25 (b)		3,800,000		3,663,428
KFW 1.500%, 02/06/19		2,500,000		2,491,925
1.625%, 03/15/21		5,500,000		5,324,770
2.375%, 08/25/21 (b)		1,945,000		1,910,243
2.750%, 09/08/20		2,300,000		2,292,709
Landwirtschaftliche Rentenbank 2.000%, 01/13/25		3,500,000		3,270,960
Lloyds Bank plc 6.375%, 01/21/21		1,500,000		1,594,350
Mitsubishi UFJ Financial Group, Inc. 2.998%, 02/22/22 (b)		1,900,000		1,859,131
Morgan Stanley 4.300%, 01/27/45		2,900,000		2,790,525
4.350%, 09/08/26 (b)		3,800,000		3,767,586
5.625%, 09/23/19		1,900,000		1,947,196
7.250%, 04/01/32		1,850,000		2,359,601
National Australia Bank, Ltd. 2.800%, 01/10/22		1,900,000		1,852,158
Oesterreichische Kontrollbank AG 1.625%, 03/12/19		3,025,000		3,012,386
PNC Bank N.A. 2.950%, 02/23/25		4,100,000		3,909,309
Royal Bank of Scotland Group plc 3.498%, 3M LIBOR + 1.480%, 05/15/23 (a)		1,000,000		969,060
3.875%, 09/12/23		1,000,000		971,030
Santander UK plc 2.375%, 03/16/20 (b)		2,000,000		1,974,500
Sumitomo Mitsui Financial Group, Inc. 2.632%, 07/14/26		4,700,000		4,234,700

Security Description	Principal Amount*		Value
Banks—(Continued)
Toronto-Dominion Bank (The) 2.250%, 11/05/19		4,000,000	$	3,970,720
U.S. Bancorp 3.600%, 09/11/24		3,000,000		2,964,210
UBS AG 4.875%, 08/04/20		3,500,000		3,597,370
Wells Fargo & Co. 2.600%, 07/22/20		4,000,000		3,957,120
3.000%, 01/22/21 (b)		3,400,000		3,372,018
3.000%, 10/23/26		2,000,000		1,853,500
Wells Fargo Bank N.A. 5.950%, 08/26/36		1,900,000		2,220,169
Westpac Banking Corp. 2.800%, 01/11/22 (b)		2,000,000		1,954,680
				163,354,560
Beverages—0.6%
Anheuser-Busch InBev Finance, Inc. 3.650%, 02/01/26		2,000,000		1,941,660
4.900%, 02/01/46		5,300,000		5,337,471
Anheuser-Busch InBev Worldwide, Inc. 4.439%, 10/06/48		1,165,000		1,098,770
Coca-Cola Co. (The) 3.150%, 11/15/20		280,000		280,823
3.200%, 11/01/23		3,000,000		2,974,740
Pepsi-Cola Metropolitan Bottling Co., Inc. 7.000%, 03/01/29		300,000		381,999
PepsiCo, Inc. 3.600%, 03/01/24		3,975,000		4,014,074
				16,029,537
Biotechnology—0.4%
Amgen, Inc. 2.600%, 08/19/26		3,200,000		2,901,760
2.650%, 05/11/22		1,300,000		1,262,469
3.625%, 05/22/24		1,200,000		1,198,380
Celgene Corp. 4.625%, 05/15/44 (b)		2,000,000		1,880,300
Gilead Sciences, Inc. 3.650%, 03/01/26		3,000,000		2,943,510
				10,186,419
Chemicals—0.4%
Dow Chemical Co. (The) 4.250%, 11/15/20		2,750,000		2,800,518
9.400%, 05/15/39		650,000		988,995
E. I. du Pont de Nemours & Co. 5.600%, 12/15/36		1,000,000		1,106,720
LyondellBasell Industries NV 4.625%, 02/26/55		1,400,000		1,257,956
Nutrien, Ltd. 4.875%, 03/30/20		970,000		989,361
Praxair, Inc. 3.000%, 09/01/21 (b)		3,950,000		3,936,056
				11,079,606

BHFTII-169

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—0.6%
Apple, Inc. 2.250%, 02/23/21		3,000,000	$	2,946,270
2.400%, 05/03/23		2,072,000		1,990,674
4.450%, 05/06/44		2,944,000		3,092,495
4.650%, 02/23/46		2,700,000		2,916,081
Hewlett Packard Enterprise Co. 4.900%, 10/15/25 (b)		1,400,000		1,439,802
International Business Machines Corp. 4.000%, 06/20/42		3,200,000		3,118,112
8.375%, 11/01/19		425,000		449,680
				15,953,114
Cosmetics/Personal Care—0.3%
Procter & Gamble Co. (The) 2.300%, 02/06/22 (b)		3,600,000		3,500,064
Unilever Capital Corp. 2.900%, 05/05/27		1,500,000		1,408,800
5.900%, 11/15/32		1,500,000		1,829,040
				6,737,904
Diversified Financial Services—0.6%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.950%, 02/01/22 (b)		1,800,000		1,795,320
American Express Credit Corp. 3.300%, 05/03/27		3,000,000		2,880,150
BlackRock, Inc. 3.500%, 03/18/24		3,800,000		3,805,928
GE Capital International Funding Co. 4.418%, 11/15/35		2,700,000		2,547,207
HSBC Finance Corp. 6.676%, 01/15/21		433,000		459,465
Nomura Holdings, Inc. 6.700%, 03/04/20		1,325,000		1,384,121
Visa, Inc. 2.800%, 12/14/22 (b)		3,000,000		2,939,400
				15,811,591
Electric—1.7%
Connecticut Light & Power Co. (The) 4.000%, 04/01/48 (b)		1,000,000		983,100
Consolidated Edison Co. of New York, Inc. 3.950%, 03/01/43		3,070,000		2,931,605
Dominion Energy, Inc. 3.900%, 10/01/25		1,900,000		1,870,797
DTE Electric Co. 3.700%, 03/15/45		4,000,000		3,721,960
Duke Energy Carolinas LLC 5.300%, 02/15/40 (b)		2,000,000		2,281,960
Duke Energy Corp. 3.050%, 08/15/22		4,000,000		3,922,400
Exelon Corp. 3.400%, 04/15/26		3,000,000		2,863,710
5.625%, 06/15/35		1,500,000		1,666,365
FirstEnergy Corp. 3.900%, 07/15/27		2,000,000		1,946,660

Security Description	Principal Amount*		Value
Electric—(Continued)
Florida Power & Light Co. 5.950%, 02/01/38		1,700,000	$	2,079,559
Georgia Power Co. 4.300%, 03/15/42		2,000,000		1,896,560
Northern States Power Co. 6.250%, 06/01/36		2,200,000		2,745,336
Ohio Power Co. 5.375%, 10/01/21		1,640,000		1,735,661
Oncor Electric Delivery Co. LLC 7.000%, 05/01/32		950,000		1,230,839
Pacific Gas & Electric Co. 5.400%, 01/15/40		3,320,000		3,543,801
PacifiCorp 2.950%, 02/01/22		2,800,000		2,761,780
PPL Capital Funding, Inc. 3.400%, 06/01/23 (b)		2,000,000		1,962,860
PSEG Power LLC 8.625%, 04/15/31		1,000,000		1,304,330
Sempra Energy 3.400%, 02/01/28		2,100,000		1,962,408
				43,411,691
Electrical Components & Equipment—0.1%
Emerson Electric Co. 4.875%, 10/15/19		1,800,000		1,836,252
Environmental Control—0.1%
Waste Management, Inc. 7.000%, 07/15/28		1,265,000		1,548,714
Food—0.5%
General Mills, Inc. 4.200%, 04/17/28		1,500,000		1,480,830
Kraft Heinz Foods Co. 3.000%, 06/01/26 (b)		3,300,000		3,004,419
Kroger Co. (The) 3.300%, 01/15/21		3,900,000		3,887,247
Sysco Corp. 2.600%, 06/12/22		2,400,000		2,319,048
Tyson Foods, Inc. 3.550%, 06/02/27		1,200,000		1,132,008
				11,823,552
Forest Products & Paper—0.1%
Georgia-Pacific LLC 8.000%, 01/15/24		1,800,000		2,150,226
International Paper Co. 3.000%, 02/15/27 (b)		1,500,000		1,377,120
				3,527,346
Gas—0.1%
NiSource, Inc. 4.800%, 02/15/44		1,500,000		1,516,230

BHFTII-170

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—0.5%
Abbott Laboratories 4.750%, 11/30/36		3,000,000	$	3,192,090
Becton Dickinson & Co. 4.669%, 06/06/47		2,000,000		1,987,960
Medtronic, Inc. 4.625%, 03/15/45		3,000,000		3,174,090
Thermo Fisher Scientific, Inc. 4.150%, 02/01/24		3,445,000		3,511,523
				11,865,663
Healthcare-Services—0.4%
Aetna, Inc. 2.750%, 11/15/22		3,000,000		2,891,760
Anthem, Inc. 5.850%, 01/15/36 (b)		1,800,000		2,021,148
Laboratory Corp. of America Holdings 4.625%, 11/15/20		1,900,000		1,943,092
UnitedHealth Group, Inc. 3.750%, 07/15/25		3,600,000		3,610,512
4.250%, 06/15/48		1,000,000		1,004,990
				11,471,502
Insurance—1.0%
Aflac, Inc. 3.625%, 06/15/23		2,975,000		2,981,991
Allstate Corp. (The) 7.450%, 05/16/19		1,700,000		1,748,280
American International Group, Inc. 3.300%, 03/01/21		3,000,000		2,992,080
4.500%, 07/16/44		1,100,000		1,043,152
AXA S.A. 8.600%, 12/15/30		1,165,000		1,520,255
Berkshire Hathaway, Inc. 3.125%, 03/15/26 (b)		2,900,000		2,792,758
Chubb Corp. (The) 6.000%, 05/11/37		865,000		1,046,512
Chubb INA Holdings, Inc. 3.350%, 05/15/24		4,000,000		3,932,120
Hartford Financial Services Group, Inc. (The) 6.100%, 10/01/41		780,000		917,428
Marsh & McLennan Cos., Inc. 3.750%, 03/14/26 (b)		4,000,000		3,926,920
Principal Financial Group, Inc. 3.100%, 11/15/26		1,000,000		928,750
Prudential Financial, Inc. 5.700%, 12/14/36		1,525,000		1,734,550
				25,564,796
Internet—0.3%
Alibaba Group Holding, Ltd. 4.200%, 12/06/47		1,400,000		1,272,488
Amazon.com, Inc. 3.800%, 12/05/24 (b)		3,800,000		3,874,898
3.875%, 08/22/37		1,900,000		1,858,333

Security Description	Principal Amount*		Value
Internet—(Continued)
eBay, Inc. 3.600%, 06/05/27		1,500,000	$	1,423,785
				8,429,504
Iron/Steel—0.0%
Vale Overseas, Ltd. 6.875%, 11/21/36		1,100,000		1,274,273
Machinery-Construction & Mining—0.1%
Caterpillar, Inc. 3.803%, 08/15/42 (b)		1,500,000		1,433,715
Machinery-Diversified—0.1%
Deere & Co. 2.600%, 06/08/22		1,950,000		1,902,596
Media—1.1%
21st Century Fox America, Inc. 6.550%, 03/15/33		1,950,000		2,422,192
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.464%, 07/23/22		2,800,000		2,845,836
Comcast Corp. 3.150%, 03/01/26 (b)		2,000,000		1,885,560
4.650%, 07/15/42		3,670,000		3,627,318
5.650%, 06/15/35		1,500,000		1,659,465
Discovery Communications LLC 6.350%, 06/01/40		1,800,000		1,981,962
Time Warner Cable LLC 5.000%, 02/01/20		1,900,000		1,938,418
6.550%, 05/01/37		100,000		108,503
Time Warner Entertainment Co. L.P. 8.375%, 03/15/23		380,000		440,751
Time Warner, Inc. 3.600%, 07/15/25		1,900,000		1,821,511
6.100%, 07/15/40		925,000		989,473
7.700%, 05/01/32		685,000		875,875
Viacom, Inc. 4.375%, 03/15/43		3,500,000		3,063,655
Walt Disney Co. (The) 2.750%, 08/16/21 (b)		1,930,000		1,914,193
2.950%, 06/15/27 (b)		2,000,000		1,895,860
				27,470,572
Mining—0.2%
Newmont Mining Corp. 6.250%, 10/01/39		1,800,000		2,036,358
Rio Tinto Alcan, Inc. 6.125%, 12/15/33		1,751,000		2,097,803
				4,134,161
Miscellaneous Manufacturing—0.3%
3M Co. 3.625%, 10/15/47		1,000,000		938,740

BHFTII-171

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Miscellaneous Manufacturing—(Continued)
General Electric Co. 3.375%, 03/11/24 (b)		2,900,000	$	2,847,307
5.300%, 02/11/21 (b)		1,915,000		1,995,353
6.750%, 03/15/32		1,250,000		1,512,563
7.500%, 08/21/35		100,000		125,293
Ingersoll-Rand Luxembourg Finance S.A. 2.625%, 05/01/20		1,200,000		1,188,504
				8,607,760
Multi-National—1.4%
African Development Bank 1.875%, 03/16/20		1,000,000		985,910
Asian Development Bank 1.625%, 08/26/20		4,000,000		3,905,320
2.000%, 02/16/22		2,000,000		1,933,260
European Investment Bank 1.625%, 12/15/20 (b)		2,000,000		1,944,140
1.875%, 02/10/25 (b)		2,500,000		2,314,925
2.500%, 10/15/24 (b)		3,800,000		3,664,378
4.000%, 02/16/21		1,700,000		1,739,491
4.875%, 02/15/36 (b)		1,700,000		2,055,470
Inter-American Development Bank 1.750%, 10/15/19		2,000,000		1,979,780
2.125%, 01/15/25		3,900,000		3,675,516
2.375%, 07/07/27 (b)		1,500,000		1,406,235
6.800%, 10/15/25		500,000		601,555
7.000%, 06/15/25		200,000		241,546
International Bank for Reconstruction & Development 2.125%, 03/03/25 (b)		3,000,000		2,827,200
2.500%, 07/29/25		2,000,000		1,921,960
7.625%, 01/19/23 (b)		2,970,000		3,507,273
8.875%, 03/01/26		535,000		719,195
International Finance Corp. 1.125%, 07/20/21 (b)		1,600,000		1,520,480
				36,943,634
Oil & Gas—1.7%
Apache Finance Canada Corp. 7.750%, 12/15/29		300,000		370,845
BP Capital Markets plc 3.245%, 05/06/22		3,900,000		3,873,987
Canadian Natural Resources, Ltd. 6.250%, 03/15/38		1,800,000		2,122,434
Chevron Corp. 3.191%, 06/24/23 (b)		3,025,000		3,002,675
ConocoPhillips Canada Funding Co. I 5.950%, 10/15/36		1,550,000		1,866,479
ConocoPhillips Holding Co. 6.950%, 04/15/29		700,000		874,608
Equinor ASA 3.250%, 11/10/24 (b)		3,100,000		3,047,920
Exxon Mobil Corp. 3.176%, 03/15/24		2,900,000		2,877,931
Marathon Oil Corp. 6.600%, 10/01/37		2,000,000		2,361,560

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Noble Energy, Inc. 3.900%, 11/15/24		4,200,000	$	4,125,828
Occidental Petroleum Corp. 3.400%, 04/15/26 (b)		1,000,000		978,060
Petroleos Mexicanos 4.875%, 01/24/22		1,900,000		1,924,377
6.625%, 06/15/35 (b)		3,400,000		3,369,128
Phillips 66 4.875%, 11/15/44		1,000,000		1,036,300
Shell International Finance B.V. 1.875%, 05/10/21		5,000,000		4,840,650
4.300%, 09/22/19		1,000,000		1,014,080
4.375%, 05/11/45		1,900,000		1,963,840
Total Capital International S.A. 2.700%, 01/25/23		3,000,000		2,913,690
Valero Energy Corp. 3.400%, 09/15/26		1,000,000		950,380
				43,514,772
Oil & Gas Services—0.1%
Halliburton Co. 3.500%, 08/01/23		4,000,000		3,982,880
Pharmaceuticals—1.4%
AbbVie, Inc. 4.400%, 11/06/42		3,200,000		2,959,584
Allergan Funding SCS 3.800%, 03/15/25		2,400,000		2,349,072
AstraZeneca plc 4.000%, 09/18/42		1,200,000		1,114,500
CVS Health Corp. 3.350%, 03/09/21		1,500,000		1,496,580
3.700%, 03/09/23		3,000,000		2,986,860
5.050%, 03/25/48		1,500,000		1,532,310
5.125%, 07/20/45		1,900,000		1,947,329
Express Scripts Holding Co. 4.500%, 02/25/26		2,700,000		2,721,006
6.125%, 11/15/41		313,000		356,075
GlaxoSmithKline Capital, Inc. 3.875%, 05/15/28		2,000,000		2,015,500
Johnson & Johnson 3.700%, 03/01/46 (b)		2,000,000		1,904,180
5.950%, 08/15/37		910,000		1,138,747
Merck & Co., Inc. 2.400%, 09/15/22		1,000,000		968,750
6.550%, 09/15/37		1,000,000		1,331,810
Merck Sharp & Dohme Corp. 5.950%, 12/01/28		300,000		350,718
Novartis Capital Corp. 4.400%, 04/24/20 (b)		900,000		919,548
Sanofi 4.000%, 03/29/21		2,775,000		2,828,113
Shire Acquisitions Investments Ireland DAC 3.200%, 09/23/26		3,000,000		2,766,690

BHFTII-172

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Wyeth LLC 5.950%, 04/01/37		3,300,000	$	3,998,610
				35,685,982
Pipelines—1.0%
El Paso Natural Gas Co. LLC 8.375%, 06/15/32		220,000		278,230
Enbridge Energy Partners L.P. 5.875%, 10/15/25		3,000,000		3,294,570
Energy Transfer Partners L.P. 4.650%, 06/01/21		1,950,000		1,996,410
5.150%, 03/15/45		2,600,000		2,463,396
Enterprise Products Operating LLC 3.950%, 02/15/27 (b)		3,800,000		3,789,398
Kinder Morgan Energy Partners L.P. 6.500%, 02/01/37		2,000,000		2,238,840
Kinder Morgan, Inc. 4.300%, 06/01/25		1,000,000		1,009,340
MPLX L.P. 5.200%, 03/01/47		1,000,000		1,002,120
Sabine Pass Liquefaction LLC 5.625%, 04/15/23		2,700,000		2,872,584
Tennessee Gas Pipeline Co. LLC 7.000%, 10/15/28		1,050,000		1,231,787
7.625%, 04/01/37		640,000		790,790
TransCanada PipeLines, Ltd. 6.200%, 10/15/37		1,800,000		2,094,246
Williams Partners L.P. 5.250%, 03/15/20		3,575,000		3,669,952
				26,731,663
Real Estate Investment Trusts—0.6%
American Tower Corp. 3.000%, 06/15/23		2,100,000		2,020,767
AvalonBay Communities, Inc. 6.100%, 03/15/20		860,000		893,041
Boston Properties L.P. 3.850%, 02/01/23 (b)		2,950,000		2,959,086
Digital Realty Trust L.P. 3.700%, 08/15/27		3,500,000		3,324,300
Simon Property Group L.P. 3.300%, 01/15/26		3,800,000		3,649,292
Ventas Realty L.P. 3.100%, 01/15/23		2,100,000		2,036,097
Welltower, Inc. 4.000%, 06/01/25 (b)		1,500,000		1,479,000
				16,361,583
Retail—0.8%
Home Depot, Inc. (The) 2.000%, 04/01/21		1,000,000		974,630
4.250%, 04/01/46		2,000,000		2,038,020
4.400%, 04/01/21 (b)		1,450,000		1,491,354
Lowe’s Cos., Inc. 4.050%, 05/03/47		1,500,000		1,441,695

Security Description	Principal Amount*		Value
Retail—(Continued)
McDonald’s Corp. 3.700%, 01/30/26 (b)		3,000,000	$	2,968,230
Target Corp. 4.000%, 07/01/42 (b)		2,000,000		1,935,940
6.350%, 11/01/32		708,000		866,415
Walgreens Boots Alliance, Inc. 2.700%, 11/18/19		3,000,000		2,989,290
Walmart, Inc. 2.550%, 04/11/23		4,000,000		3,875,520
5.250%, 09/01/35		935,000		1,076,540
				19,657,634
Semiconductors—0.3%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.000%, 01/15/22		3,100,000		3,018,222
Intel Corp. 2.700%, 12/15/22		2,000,000		1,956,400
QUALCOMM, Inc. 3.450%, 05/20/25		4,000,000		3,881,840
				8,856,462
Software—0.9%
Adobe Systems, Inc. 4.750%, 02/01/20 (b)		2,200,000		2,248,268
Microsoft Corp. 2.000%, 11/03/20		3,000,000		2,946,510
3.125%, 11/03/25		5,100,000		4,988,259
3.300%, 02/06/27		2,000,000		1,962,520
4.250%, 02/06/47		3,000,000		3,142,680
Oracle Corp. 1.900%, 09/15/21		1,800,000		1,738,350
2.500%, 10/15/22		2,100,000		2,036,874
4.125%, 05/15/45		4,200,000		4,079,796
				23,143,257
Telecommunications—1.3%
AT&T, Inc. 4.100%, 02/15/28 (144A)		3,987,000		3,869,144
4.125%, 02/17/26		3,000,000		2,963,760
4.500%, 03/09/48		2,100,000		1,836,639
5.150%, 11/15/46 (144A)		1,308,000		1,251,586
5.300%, 08/15/58 (144A) (b)		2,500,000		2,374,450
7.125%, 12/15/31 (144A)		100,000		116,511
British Telecommunications plc 9.625%, 12/15/30		1,000,000		1,422,970
Cisco Systems, Inc. 2.500%, 09/20/26 (b)		1,200,000		1,109,916
5.500%, 01/15/40		2,000,000		2,383,640
Deutsche Telekom International Finance B.V. 8.750%, 06/15/30		1,000,000		1,351,890
Orange S.A. 5.500%, 02/06/44 (b)		2,400,000		2,698,680
Telefonica Emisiones S.A.U. 4.103%, 03/08/27		1,900,000		1,829,757

BHFTII-173

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Verizon Communications, Inc. 3.376%, 02/15/25 (b)		2,078,000	$	2,019,068
4.812%, 03/15/39		3,927,000		3,963,207
5.012%, 04/15/49		2,032,000		2,071,096
Vodafone Group plc 6.150%, 02/27/37		2,170,000		2,398,978
				33,661,292
Transportation—0.4%
Burlington Northern Santa Fe LLC 4.150%, 04/01/45		3,900,000		3,836,742
CSX Corp. 6.150%, 05/01/37		1,600,000		1,912,704
FedEx Corp. 4.550%, 04/01/46		1,000,000		975,700
8.000%, 01/15/19		675,000		684,551
Norfolk Southern Corp. 3.000%, 04/01/22		1,911,000		1,881,036
5.590%, 05/17/25		28,000		30,564
Union Pacific Corp. 6.625%, 02/01/29		1,200,000		1,443,852
United Parcel Service, Inc. 5.125%, 04/01/19		760,000		769,211
				11,534,360
Total Corporate Bonds & Notes (Cost $691,382,679)				702,468,377
Foreign Government—1.6%
Banks—0.1%
Kreditanstalt fuer Wiederaufbau 2.875%, 04/03/28 (b)		2,000,000		1,951,840
Electric—0.1%
Hydro-Quebec 8.400%, 01/15/22		1,000,000		1,151,800
Provincial—0.3%
Province of British Columbia Canada 2.000%, 10/23/22		1,970,000		1,883,556
Province of Nova Scotia Canada 9.250%, 03/01/20		250,000		270,223
Province of Ontario Canada 2.450%, 06/29/22		4,000,000		3,884,720
4.400%, 04/14/20 (b)		2,100,000		2,144,247
Province of Quebec Canada 7.500%, 07/15/23		350,000		411,660
				8,594,406
Sovereign—1.1%
Colombia Government International Bonds 5.000%, 06/15/45 (b)		1,000,000		999,810
8.125%, 05/21/24 (b)		1,500,000		1,802,175

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Export-Import Bank of Korea 2.250%, 01/21/20		2,000,000	$	1,975,920
Japan Bank for International Cooperation 1.750%, 05/28/20 (b)		5,000,000		4,894,850
Mexico Government International Bonds 5.750%, 10/12/10 (b)		2,000,000		2,021,760
6.750%, 09/27/34		1,050,000		1,259,076
8.000%, 09/24/22		2,200,000		2,595,032
Panama Government International Bonds 4.500%, 05/15/47 (c)		1,400,000		1,401,792
5.200%, 01/30/20		1,370,000		1,407,017
Peruvian Government International Bond 8.750%, 11/21/33 (b)		1,450,000		2,144,260
Philippine Government International Bond 5.000%, 01/13/37		1,740,000		1,902,551
Poland Government International Bond 3.250%, 04/06/26 (b)		2,000,000		1,941,960
Republic of Korea 7.125%, 04/16/19		2,400,000		2,453,592
Uruguay Government International Bond 4.375%, 10/27/27 (c)		1,900,000		1,932,927
				28,732,722
Total Foreign Government (Cost $41,398,006)				40,430,768
Mortgage-Backed Securities—1.4%
Commercial Mortgage-Backed Securities—1.4%
CD Mortgage Trust 2.724%, 08/10/49		1,664,000		1,550,826
Commercial Mortgage Pass-Through Certificates Mortgage Trust 3.765%, 02/10/49		1,539,000		1,541,409
3.902%, 07/10/50		1,835,000		1,855,180
Commercial Mortgage Trust 3.838%, 09/10/47		3,800,000		3,841,908
Credit Suisse Mortgage Capital Certificates Trust 3.795%, 12/15/49 (a)		2,889,000		2,875,274
GS Mortgage Securities Corp. II 3.382%, 05/10/50		1,835,000		1,807,297
GS Mortgage Securities Trust 3.135%, 06/10/46		2,935,000		2,893,195
3.377%, 05/10/45		2,539,971		2,541,884
4.243%, 08/10/46		966,000		997,148
JPMBB Commercial Mortgage Securities Trust 3.598%, 11/15/48		3,900,000		3,873,583
3.801%, 08/15/48		1,534,000		1,546,753
Morgan Stanley Bank of America Merrill Lynch Trust 3.544%, 01/15/49		3,850,000		3,810,592
3.635%, 10/15/48		1,547,000		1,535,045
3.732%, 05/15/48		3,750,000		3,754,148
WF-RBS Commercial Mortgage Trust 3.488%, 06/15/46		1,054,000		1,038,836
Total Mortgage-Backed Securities (Cost $36,951,719)				35,463,078

BHFTII-174

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Municipals—0.5%

Security Description	Principal Amount*		Value
Los Angeles, CA Unified School District, Build America Bond 6.758%, 07/01/34		660,000	$	848,357
Municipal Electric Authority of Georgia, Build America Bond 6.637%, 04/01/57		1,999,000		2,357,980
New Jersey State Turnpike Authority, Build America Bond 7.414%, 01/01/40		3,500,000		5,007,765
Oregon School Boards Association, General Obligation Unlimited 5.680%, 06/30/28		1,900,000		2,139,704
State of California General Obligation Unlimited, Build America Bond 7.300%, 10/01/39		2,000,000		2,792,420
State of Illinois, General Obligation Unlimited 5.100%, 06/01/33		1,230,000		1,180,493
Total Municipals (Cost $13,110,645)				14,326,719
Asset-Backed Securities—0.5%
Asset-Backed-Automobile—0.2%
Ally Auto Receivables Trust 1.990%, 11/15/21		2,990,000		2,940,642
AmeriCredit Automobile Receivables Trust 3.080%, 12/18/23		1,500,000		1,469,247
Ford Credit Auto Owner Trust 3.160%, 10/15/23		1,000,000		998,987
Honda Auto Receivables Owner Trust 1.330%, 11/18/22		1,011,000		993,812
				6,402,688
Asset-Backed-Credit Card—0.3%
Capital One Multi-Asset Execution Trust 1.660%, 06/17/24		3,000,000		2,876,324
Citibank Credit Card Issuance Trust 2.880%, 01/23/23		4,924,000		4,896,853
				7,773,177
Total Asset-Backed Securities (Cost $14,385,336)				14,175,865
Short-Term Investments—0.7%
Discount Notes—0.5%
Fannie Mae 2.114%, 12/05/18 (d)		600,000		597,638
Federal Home Loan Bank 1.817%, 10/10/18 (d)		3,100,000		3,098,363
1.936%, 10/24/18 (d)		700,000		699,056
2.101%, 11/09/18 (d)		2,500,000		2,494,178
2.103%, 11/07/18 (d)		4,300,000		4,290,497
2.105%, 11/28/18 (d)		1,700,000		1,694,111
				12,873,843

Security Description	Principal Amount*		Value
U.S. Treasury—0.2%
U.S. Treasury Bills 1.799%, 10/11/18 (d)		500,000	$	499,716
2.004%, 11/15/18 (d)		1,100,000		1,097,138
2.061%, 11/08/18 (d)		2,900,000		2,893,664
				4,490,518
Total Short-Term Investments (Cost $17,364,968)				17,364,361
Securities Lending Reinvestments (e)—8.9%
Bank Note—0.1%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (a)		3,000,000		3,000,000
Certificates of Deposit—4.4%
Banco Del Estado De Chile New York 2.466%, 1M LIBOR + 0.250%, 03/20/19 (a)		5,000,000		4,999,740
Banco Santander S.A. 2.340%, 11/07/18		4,000,000		4,000,328
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (a)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (a)		8,000,000		8,007,632
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (a)		5,000,000		4,998,985
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (a)		5,000,000		5,001,485
Commonwealth Bank of Australia 2.487%, 3M LIBOR + 0.140%, 04/23/19 (a)		2,500,000		2,500,895
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (a)		8,000,000		8,000,599
Credit Industriel et Commercial Zero Coupon, 01/25/19		4,936,141		4,960,150
Credit Industriel et Commercial (NY) 2.364%, 1M LIBOR + 0.250%, 02/05/19 (a)		2,500,000		2,501,182
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,000,000		1,000,013
2.500%, 11/15/18		4,000,000		3,999,904
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		2,000,000		2,000,004
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		4,962,437		4,963,471
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (a)		5,000,000		4,999,835
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (a)		3,000,000		2,999,763
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (a)		5,000,000		4,999,415
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (a)		7,000,000		6,999,671
Sumitomo Mitsui Banking Corp., New York 2.290%, 1M LIBOR + 0.180%, 03/05/19 (a)		2,000,000		1,999,766

BHFTII-175

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Sumitomo Mitsui Trust Bank, Ltd. 2.423%, 3M LIBOR + 0.090%, 10/18/18 (a)		3,000,377	$	2,999,979
2.443%, 3M LIBOR + 0.110%, 10/11/18 (a)		2,000,000		2,000,014
2.502%, 1M LIBOR + 0.320%, 11/21/18 (a)		2,500,000		2,500,000
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (a)		5,000,000		5,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (a)		4,000,000		4,000,476
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (a)		10,000,000		10,001,140
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (a)		7,000,000		7,003,718
				114,438,161
Commercial Paper—1.4%
Bank of China, Ltd. 2.510%, 11/02/18		7,949,242		7,982,400
2.550%, 12/20/18		1,987,250		1,988,494
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (a)		2,000,000		2,000,206
2.453%, 1M LIBOR + 0.320%, 02/08/19 (a)		2,000,000		2,001,022
Sheffield Receivables Co. 2.490%, 11/26/18		4,934,638		4,980,795
2.510%, SOFR + 0.350%, 11/28/18 (a)		1,500,000		1,500,411
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000		997,834
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (a)		10,000,000		10,009,230
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (a)		5,000,000		5,002,770
				36,463,162
Master Demand Notes—0.2%
Natixis Financial Products LLC 2.520%, OBFR + 0.350%, 11/02/18 (a)		5,000,000		5,000,000
Repurchase Agreements—2.5%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $4,042,022; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $4,217,144.		4,000,000		4,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $5,035,694; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $1,579,900; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $1,530,000.		1,500,000		1,500,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,200,224; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $1,224,000.		1,200,000	$	1,200,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $713,191; collateralized by various Common Stock with an aggregate market value of $779,326.		700,000		700,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $803,173; collateralized by various Common Stock with an aggregate market value of $888,997.		800,000		800,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $321,638; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $327,761.		321,579		321,579
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $4,346,583; collateralized by various Common Stock with an aggregate market value of $4,510,001.		4,100,000		4,100,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $8,312,498; collateralized by various Common Stock with an aggregate market value of $8,800,001.		8,000,000		8,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $5,002,401; collateralized by various Common Stock with an aggregate market value of $5,501,071.		5,000,000		5,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $1,427,755; collateralized by various Common Stock with an aggregate market value of $1,557,717.		1,400,000		1,400,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $1,215,522; collateralized by various Common Stock with an aggregate market value of $1,335,186.		1,200,000		1,200,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $5,026,004; collateralized by various Common Stock with an aggregate market value of $5,563,721.		5,000,000		5,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $3,015,405; collateralized by various Common Stock with an aggregate market value of $3,338,232.		3,000,000		3,000,000

BHFTII-176

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $1,722,580; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,888,102.		1,700,000	$	1,700,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $2,126,815; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,332,362.		2,100,000		2,100,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $1,012,448; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $2,125,198; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,332,362.		2,100,000		2,100,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $4,827,144; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $5,331,112.		4,800,000		4,800,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $3,538,675; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,887,269.		3,500,000		3,500,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $7,067,340; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,774,539.		7,000,000		7,000,000
				63,421,579
Time Deposits—0.3%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		1,000,000		1,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		2,000,000		2,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Erste Group Bank AG 2.170%, 10/01/18		2,000,000		2,000,000

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Nordea Bank New York 2.140%, 10/01/18		1,000,000	$	1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				8,000,000
Total Securities Lending Reinvestments (Cost $230,294,025)				230,322,902
Total Investments—108.8% (Cost $2,863,673,313)				2,809,202,721
Other assets and liabilities (net)—(8.8)%				(228,367,918	)
Net Assets—100.0%			$	2,580,834,803

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $223,904,843 and the collateral received consisted of cash in the amount of $230,185,664. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Principal amount of security is adjusted for inflation.
(d)	The rate shown represents current yield to maturity.
(e)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $7,611,691, which is 0.3% of net assets.
(ACES)—	Alternative Credit Enhancement Securities
(CMO)—	Collateralized Mortgage Obligation
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-177

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,754,650,651		$	—	$	1,754,650,651
Total Corporate Bonds & Notes*		—		702,468,377			—		702,468,377
Total Foreign Government*		—		40,430,768			—		40,430,768
Total Mortgage-Backed Securities*		—		35,463,078			—		35,463,078
Total Municipals		—		14,326,719			—		14,326,719
Total Asset-Backed Securities*		—		14,175,865			—		14,175,865
Total Short-Term Investments*		—		17,364,361			—		17,364,361
Total Securities Lending Reinvestments*		—		230,322,902			—		230,322,902
Total Investments	$	—	$	2,809,202,721		$	—	$	2,809,202,721
Collateral for Securities Loaned (Liability)	$	—	$	(230,185,664	)	$	—	$	(230,185,664	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-178

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—98.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.1%
Curtiss-Wright Corp.		26,866	$	3,691,926
Esterline Technologies Corp. (a)		16,187		1,472,207
KLX, Inc. (a)		31,056		1,949,696
Teledyne Technologies, Inc. (a)		21,938		5,411,666
				12,525,495
Airlines—0.3%
JetBlue Airways Corp. (a) (b) (c)		191,105		3,699,793
Auto Components—0.9%
Adient plc (b)		53,044		2,085,160
Dana, Inc.		88,296		1,648,486
Delphi Technologies plc		54,235		1,700,810
Gentex Corp. (b)		164,269		3,525,213
Visteon Corp. (a)		17,938		1,666,440
				10,626,109
Automobiles—0.2%
Thor Industries, Inc. (b)		30,580		2,559,546
Banks—7.5%
Associated Banc-Corp.		105,125		2,733,250
BancorpSouth Bank (b)		54,860		1,793,922
Bank of Hawaii Corp. (b)		25,675		2,026,014
Bank OZK (b)		73,843		2,803,080
Cathay General Bancorp (b)		47,154		1,954,062
Chemical Financial Corp.		43,615		2,329,041
Commerce Bancshares, Inc.		57,964		3,826,783
Cullen/Frost Bankers, Inc.		39,039		4,077,233
East West Bancorp, Inc.		88,521		5,344,013
First Horizon National Corp.		198,531		3,426,645
FNB Corp.		198,075		2,519,514
Fulton Financial Corp.		107,461		1,789,226
Hancock Holding Co.		52,130		2,478,781
Home BancShares, Inc.		98,158		2,149,660
International Bancshares Corp.		33,532		1,508,940
MB Financial, Inc.		51,434		2,371,622
PacWest Bancorp		74,786		3,563,553
Pinnacle Financial Partners, Inc.		44,718		2,689,788
Prosperity Bancshares, Inc. (b)		40,528		2,810,617
Signature Bank		33,814		3,883,200
Sterling Bancorp (b)		137,734		3,030,148
Synovus Financial Corp.		71,683		3,282,365
TCF Financial Corp.		102,436		2,439,001
Texas Capital Bancshares, Inc. (a)		30,640		2,532,396
Trustmark Corp. (b)		41,306		1,389,947
UMB Financial Corp. (b)		27,542		1,952,728
Umpqua Holdings Corp.		134,514		2,797,891
United Bankshares, Inc. (b)		63,419		2,305,281
Valley National Bancorp (b)		202,481		2,277,911
Webster Financial Corp.		56,338		3,321,688
Wintrust Financial Corp.		34,431		2,924,569
				84,332,869
Beverages—0.1%
Boston Beer Co., Inc. (The) - Class A (a)		5,275		1,516,563

Security Description	Shares		Value
Biotechnology—0.6%
Exelixis, Inc. (a)		182,057	$	3,226,050
United Therapeutics Corp. (a)		26,611		3,403,015
				6,629,065
Building Products—0.4%
Lennox International, Inc.		22,131		4,833,410
Capital Markets—2.8%
Eaton Vance Corp.		72,107		3,789,944
Evercore, Inc. - Class A		25,018		2,515,560
FactSet Research Systems, Inc.		23,432		5,241,973
Federated Investors, Inc. - Class B (b)		58,474		1,410,393
Interactive Brokers Group, Inc. - Class A		45,865		2,536,793
Janus Henderson Group plc (b)		102,832		2,772,351
Legg Mason, Inc.		52,198		1,630,143
MarketAxess Holdings, Inc. (b)		22,951		4,096,524
SEI Investments Co.		80,471		4,916,778
Stifel Financial Corp.		43,494		2,229,502
				31,139,961
Chemicals—2.7%
Ashland Global Holdings, Inc.		38,133		3,197,833
Cabot Corp.		37,604		2,358,523
Chemours Co. (The) (b)		108,027		4,260,585
Minerals Technologies, Inc.		21,566		1,457,861
NewMarket Corp. (b)		5,457		2,212,868
Olin Corp. (b)		102,013		2,619,694
PolyOne Corp.		48,832		2,134,935
RPM International, Inc.		81,514		5,293,519
Scotts Miracle-Gro Co. (The) (b)		24,042		1,892,827
Sensient Technologies Corp. (b)		25,825		1,975,871
Valvoline, Inc. (b)		116,519		2,506,324
				29,910,840
Commercial Services & Supplies—1.2%
Brink’s Co. (The) (b)		31,124		2,170,899
Clean Harbors, Inc. (a) (b)		31,179		2,231,793
Deluxe Corp.		29,090		1,656,385
Healthcare Services Group, Inc. (b)		45,044		1,829,687
Herman Miller, Inc. (b)		36,344		1,395,610
HNI Corp.		26,716		1,181,916
MSA Safety, Inc.		21,365		2,274,090
Pitney Bowes, Inc. (b)		114,854		813,166
				13,553,546
Communications Equipment—1.2%
ARRIS International plc (a)		103,547		2,691,187
Ciena Corp. (a)		87,109		2,721,285
InterDigital, Inc.		21,265		1,701,200
Lumentum Holdings, Inc. (a) (b)		38,356		2,299,442
NetScout Systems, Inc. (a)		44,275		1,117,944
Plantronics, Inc.		20,140		1,214,442
ViaSat, Inc. (a) (b)		34,193		2,186,642
				13,932,142

BHFTII-179

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Construction & Engineering—1.1%
AECOM (a)		98,213	$	3,207,637
Dycom Industries, Inc. (a) (b)		19,081		1,614,253
EMCOR Group, Inc.		35,540		2,669,409
Granite Construction, Inc. (b)		27,913		1,275,624
KBR, Inc.		85,947		1,816,060
Valmont Industries, Inc.		13,688		1,895,788
				12,478,771
Construction Materials—0.2%
Eagle Materials, Inc.		29,190		2,488,156
Consumer Finance—0.4%
Navient Corp.		143,868		1,939,341
SLM Corp. (a)		265,956		2,965,409
				4,904,750
Containers & Packaging—1.3%
AptarGroup, Inc. (b)		37,985		4,092,504
Bemis Co., Inc.		55,597		2,702,014
Greif, Inc. - Class A		15,846		850,296
Owens-Illinois, Inc. (a)		97,277		1,827,835
Silgan Holdings, Inc. (b)		47,300		1,314,940
Sonoco Products Co. (b)		60,842		3,376,731
				14,164,320
Distributors—0.4%
Pool Corp. (b)		24,664		4,115,928
Diversified Consumer Services—1.0%
Adtalem Global Education, Inc. (a)		36,609		1,764,554
Graham Holdings Co. - Class B		2,678		1,551,365
Service Corp. International (b)		110,173		4,869,647
Sotheby’s (a)		22,385		1,101,118
Weight Watchers International, Inc. (a)		23,604		1,699,252
				10,985,936
Electric Utilities—1.3%
ALLETE, Inc.		31,374		2,353,364
Hawaiian Electric Industries, Inc.		66,509		2,367,055
IDACORP, Inc.		30,783		3,054,597
OGE Energy Corp.		122,007		4,431,294
PNM Resources, Inc.		48,657		1,919,519
				14,125,829
Electrical Equipment—1.4%
Acuity Brands, Inc. (b)		24,545		3,858,474
EnerSys		25,731		2,241,942
Hubbell, Inc.		33,459		4,469,118
Nvent Electric plc		99,523		2,703,045
Regal-Beloit Corp.		26,544		2,188,553
				15,461,132
Electronic Equipment, Instruments & Components—4.5%
Arrow Electronics, Inc. (a)		53,382		3,935,321
Avnet, Inc.		70,713		3,165,821

Security Description	Shares		Value
Electronic Equipment, Instruments & Components—(Continued)
Belden, Inc. (b)		24,824	$	1,772,682
Cognex Corp.		105,087		5,865,956
Coherent, Inc. (a) (b)		14,844		2,555,988
Jabil, Inc.		93,635		2,535,636
Keysight Technologies, Inc. (a)		114,492		7,588,530
Littelfuse, Inc.		15,321		3,031,873
National Instruments Corp.		68,646		3,317,661
SYNNEX Corp.		18,397		1,558,226
Tech Data Corp. (a)		23,426		1,676,599
Trimble, Inc. (a)		152,687		6,635,777
Vishay Intertechnology, Inc.		80,705		1,642,347
Zebra Technologies Corp. - Class A (a)		32,798		5,799,670
				51,082,087
Energy Equipment & Services—2.0%
Apergy Corp. (a)		47,243		2,057,905
Core Laboratories NV (b)		27,008		3,128,337
Diamond Offshore Drilling, Inc. (a) (b)		39,457		789,140
Dril-Quip, Inc. (a) (b)		22,935		1,198,354
Ensco plc - Class A (b)		267,011		2,253,573
McDermott International, Inc. (a)		110,282		2,032,497
Nabors Industries, Ltd.		198,823		1,224,750
Oceaneering International, Inc. (a) (b)		60,189		1,661,216
Patterson-UTI Energy, Inc.		134,404		2,299,652
Rowan Cos. plc - Class A (a) (b)		77,612		1,461,434
Superior Energy Services, Inc. (a)		94,393		919,388
Transocean, Ltd. (a) (b)		262,398		3,660,452
				22,686,698
Entertainment—0.9%
Cinemark Holdings, Inc. (b)		64,943		2,610,709
Live Nation Entertainment, Inc. (a)		84,286		4,591,059
World Wrestling Entertainment, Inc. - Class A		26,493		2,562,668
				9,764,436
Equity Real Estate Investment Trusts—8.2%
Alexander & Baldwin, Inc.		41,356		938,368
American Campus Communities, Inc.		83,705		3,445,298
Camden Property Trust		56,690		5,304,483
CoreCivic, Inc.		72,427		1,762,149
CoreSite Realty Corp.		22,422		2,491,981
Corporate Office Properties Trust		63,079		1,881,647
Cousins Properties, Inc. (b)		256,795		2,282,908
CyrusOne, Inc.		63,905		4,051,577
Douglas Emmett, Inc.		98,606		3,719,418
EPR Properties		45,417		3,106,977
First Industrial Realty Trust, Inc.		76,958		2,416,481
Geo Group, Inc. (The)		74,391		1,871,678
Healthcare Realty Trust, Inc.		76,499		2,238,361
Highwoods Properties, Inc.		63,199		2,986,785
Hospitality Properties Trust		100,403		2,895,622
JBG SMITH Properties		66,153		2,436,415
Kilroy Realty Corp.		61,484		4,407,788
Lamar Advertising Co. - Class A (b)		51,689		4,021,404
LaSalle Hotel Properties		67,437		2,332,646
Liberty Property Trust		90,292		3,814,837
Life Storage, Inc.		28,466		2,708,825

BHFTII-180

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Mack-Cali Realty Corp.		55,167	$	1,172,850
Medical Properties Trust, Inc.		222,876		3,323,081
National Retail Properties, Inc.		95,898		4,298,148
Omega Healthcare Investors, Inc. (b)		122,377		4,010,294
PotlatchDeltic Corp.		38,334		1,569,777
Rayonier, Inc.		79,081		2,673,729
Sabra Health Care REIT, Inc. (b)		108,906		2,517,907
Senior Housing Properties Trust		145,166		2,549,115
Tanger Factory Outlet Centers, Inc. (b)		57,363		1,312,465
Taubman Centers, Inc.		37,258		2,229,146
Uniti Group, Inc.		107,319		2,162,478
Urban Edge Properties		69,652		1,537,916
Weingarten Realty Investors		72,759		2,165,308
				92,637,862
Food & Staples Retailing—0.5%
Casey’s General Stores, Inc. (b)		22,355		2,886,254
Sprouts Farmers Market, Inc. (a)		77,632		2,127,893
United Natural Foods, Inc. (a)		30,823		923,149
				5,937,296
Food Products—2.1%
Flowers Foods, Inc.		112,073		2,091,282
Hain Celestial Group, Inc. (The) (a)		54,610		1,481,023
Ingredion, Inc.		43,388		4,554,005
Lamb Weston Holdings, Inc.		89,444		5,956,970
Lancaster Colony Corp.		11,923		1,779,031
Post Holdings, Inc. (a) (b)		40,696		3,989,836
Sanderson Farms, Inc. (b)		12,277		1,269,074
Tootsie Roll Industries, Inc. (b)		11,331		331,432
TreeHouse Foods, Inc. (a) (b)		34,357		1,643,982
				23,096,635
Gas Utilities—2.0%
Atmos Energy Corp.		67,928		6,379,119
National Fuel Gas Co.		52,504		2,943,374
New Jersey Resources Corp.		53,924		2,485,896
ONE Gas, Inc.		32,081		2,639,625
Southwest Gas Holdings, Inc.		30,014		2,372,007
UGI Corp.		106,205		5,892,253
				22,712,274
Health Care Equipment & Supplies—4.5%
Avanos Medical, Inc. (a)		28,882		1,978,417
Cantel Medical Corp.		22,166		2,040,602
Globus Medical, Inc. - Class A (a)		44,768		2,541,032
Haemonetics Corp. (a)		31,577		3,618,093
Hill-Rom Holdings, Inc.		40,564		3,829,242
ICU Medical, Inc. (a)		10,128		2,863,692
Inogen, Inc. (a)		10,694		2,610,619
Integra LifeSciences Holdings Corp. (a) (b)		43,163		2,843,147
LivaNova plc (a)		29,683		3,679,801
Masimo Corp. (a)		29,319		3,651,388
NuVasive, Inc. (a) (b)		31,411		2,229,553
STERIS plc		51,649		5,908,645
Teleflex, Inc.		27,975		7,443,868
Health Care Equipment & Supplies—(Continued)
West Pharmaceutical Services, Inc.		44,921		5,546,396
				50,784,495
Health Care Providers & Services—2.3%
Acadia Healthcare Co., Inc. (a)		53,922		1,898,054
Chemed Corp.		9,828		3,140,832
Encompass Health Corp.		60,392		4,707,556
HealthEquity, Inc. (a)		33,088		3,123,838
LifePoint Health, Inc. (a)		23,618		1,520,999
MEDNAX, Inc. (a) (b)		57,095		2,664,053
Molina Healthcare, Inc. (a)		37,728		5,610,154
Patterson Cos., Inc. (b)		50,408		1,232,476
Tenet Healthcare Corp. (a)		50,665		1,441,926
				25,339,888
Health Care Technology—0.4%
Allscripts Healthcare Solutions, Inc. (a)		106,662		1,519,933
Medidata Solutions, Inc. (a) (b)		36,454		2,672,443
				4,192,376
Hotels, Restaurants & Leisure—3.4%
Boyd Gaming Corp.		49,380		1,671,513
Brinker International, Inc. (b)		24,936		1,165,259
Cheesecake Factory, Inc. (The) (b)		25,756		1,378,976
Churchill Downs, Inc.		7,291		2,024,711
Cracker Barrel Old Country Store, Inc. (b)		14,663		2,157,367
Domino’s Pizza, Inc.		25,579		7,540,689
Dunkin’ Brands Group, Inc. (b)		51,176		3,772,695
Eldorado Resorts, Inc. (a) (b)		39,683		1,928,594
International Speedway Corp. - Class A (b)		14,929		653,890
Jack in the Box, Inc.		16,650		1,395,770
Marriott Vacations Worldwide Corp.		25,020		2,795,985
Papa John’s International, Inc. (b)		13,713		703,203
Scientific Games Corp. - Class A (a)		33,508		851,103
Six Flags Entertainment Corp.		43,643		3,047,154
Texas Roadhouse, Inc.		40,605		2,813,521
Wendy’s Co. (The)		114,367		1,960,250
Wyndham Worldwide Corp. (b)		60,730		2,633,253
				38,493,933
Household Durables—1.3%
Helen of Troy, Ltd. (a)		16,092		2,106,443
KB Home		52,272		1,249,824
NVR, Inc. (a)		2,083		5,146,676
Tempur Sealy International, Inc. (a) (b)		27,934		1,477,709
Toll Brothers, Inc.		82,817		2,735,445
TRI Pointe Group, Inc. (a) (b)		92,873		1,151,625
Tupperware Brands Corp.		30,556		1,022,098
				14,889,820
Household Products—0.2%
Energizer Holdings, Inc. (b)		36,511		2,141,370
Industrial Conglomerates—0.4%
Carlisle Cos., Inc. (b)		36,491		4,444,604

BHFTII-181

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—4.5%
Alleghany Corp.		9,125	$	5,954,336
American Financial Group, Inc.		42,992		4,770,822
Aspen Insurance Holdings, Ltd.		36,464		1,524,195
Brown & Brown, Inc.		141,595		4,186,964
CNO Financial Group, Inc.		100,526		2,133,162
First American Financial Corp.		68,208		3,518,851
Genworth Financial, Inc. - Class A (a)		305,844		1,275,370
Hanover Insurance Group, Inc. (The)		25,984		3,205,646
Kemper Corp.		37,176		2,990,809
Mercury General Corp.		16,562		830,750
Old Republic International Corp.		173,674		3,886,824
Primerica, Inc.		26,344		3,175,769
Reinsurance Group of America, Inc.		38,885		5,621,216
RenaissanceRe Holdings, Ltd.		24,595		3,285,400
W.R. Berkley Corp.		58,782		4,698,445
				51,058,559
Interactive Media & Services—0.1%
Cars.com, Inc. (a) (b)		39,189		1,082,008
IT Services—3.2%
Convergys Corp.		55,682		1,321,891
CoreLogic, Inc. (a)		49,445		2,443,077
Jack Henry & Associates, Inc. (b)		47,146		7,547,132
Leidos Holdings, Inc.		91,925		6,357,533
MAXIMUS, Inc.		39,240		2,552,954
Perspecta, Inc.		87,064		2,239,286
Sabre Corp.		152,936		3,988,571
Science Applications International Corp.		25,928		2,089,797
Teradata Corp. (a) (b)		72,753		2,743,516
WEX, Inc. (a)		26,323		5,284,605
				36,568,362
Leisure Products—0.6%
Brunswick Corp.		52,975		3,550,384
Polaris Industries, Inc.		35,742		3,608,155
				7,158,539
Life Sciences Tools & Services—1.6%
Bio-Rad Laboratories, Inc. - Class A (a)		12,239		3,830,685
Bio-Techne Corp.		23,049		4,704,531
Charles River Laboratories International, Inc. (a) (b)		29,341		3,947,538
PRA Health Sciences, Inc. (a)		35,390		3,899,624
Syneos Health, Inc. (a) (b)		37,089		1,911,938
				18,294,316
Lodging—0.3%
Wyndham Hotels & Resorts, Inc.		61,057		3,392,937
Machinery—5.1%
AGCO Corp. (b)		40,597		2,467,892
Crane Co.		30,945		3,043,441
Donaldson Co., Inc. (b)		78,787		4,590,131
Graco, Inc.		102,105		4,731,546
IDEX Corp.		46,841		7,057,065
Machinery—(Continued)
ITT, Inc.		53,511		3,278,084
Kennametal, Inc. (b)		49,875		2,172,555
Lincoln Electric Holdings, Inc. (b)		39,811		3,719,940
Nordson Corp.		31,969		4,440,494
Oshkosh Corp.		44,656		3,181,293
Terex Corp. (b)		39,617		1,581,114
Timken Co. (The)		42,391		2,113,191
Toro Co. (The) (b)		64,258		3,853,552
Trinity Industries, Inc.		90,233		3,306,137
Wabtec Corp.		52,402		5,495,922
Woodward, Inc.		33,917		2,742,529
				57,774,886
Marine—0.2%
Kirby Corp. (a) (b)		32,917		2,707,423
Media—1.0%
AMC Networks, Inc. - Class A (a) (b)		27,760		1,841,598
Cable One, Inc.		3,031		2,678,222
John Wiley & Sons, Inc. - Class A		27,792		1,684,195
Meredith Corp. (b)		24,304		1,240,719
New York Times Co. (The) - Class A		86,200		1,995,530
TEGNA, Inc. (b)		131,497		1,572,704
				11,012,968
Metals & Mining—2.2%
Allegheny Technologies, Inc. (a) (b)		76,775		2,268,701
Carpenter Technology Corp.		28,869		1,701,827
Commercial Metals Co.		71,479		1,466,749
Compass Minerals International, Inc. (b)		20,678		1,389,562
Reliance Steel & Aluminum Co.		44,196		3,769,477
Royal Gold, Inc.		40,014		3,083,479
Steel Dynamics, Inc.		143,421		6,481,195
United States Steel Corp.		108,258		3,299,704
Worthington Industries, Inc.		24,677		1,069,995
				24,530,689
Multi-Utilities—0.9%
Black Hills Corp. (b)		32,739		1,901,808
MDU Resources Group, Inc.		119,739		3,076,095
NorthWestern Corp.		30,736		1,802,974
Vectren Corp.		50,751		3,628,189
				10,409,066
Multiline Retail—0.4%
Big Lots, Inc.		24,642		1,029,789
Dillard’s, Inc. - Class A (b)		11,752		897,148
Ollie’s Bargain Outlet Holdings, Inc. (a)		31,406		3,018,116
				4,945,053
Oil, Gas & Consumable Fuels—3.2%
Callon Petroleum Co. (a) (b)		139,011		1,666,742
Chesapeake Energy Corp. (a) (b)		557,270		2,502,142
CNX Resources Corp. (a)		130,149		1,862,432
Energen Corp. (a) (b)		50,060		4,313,670

BHFTII-182

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Gulfport Energy Corp. (a) (b)		96,335	$	1,002,847
Matador Resources Co. (a) (b)		63,263		2,090,842
Murphy Oil Corp. (b)		99,364		3,312,796
Oasis Petroleum, Inc. (a) (b)		163,170		2,313,751
PBF Energy, Inc. - Class A		73,209		3,653,861
QEP Resources, Inc. (a) (b)		144,758		1,638,661
Range Resources Corp.		126,476		2,148,827
SM Energy Co.		63,020		1,987,021
Southwestern Energy Co. (a) (b)		358,147		1,830,131
World Fuel Services Corp.		41,504		1,148,831
WPX Energy, Inc. (a)		241,175		4,852,441
				36,324,995
Paper & Forest Products—0.4%
Domtar Corp.		38,420		2,004,371
Louisiana-Pacific Corp.		87,179		2,309,372
				4,313,743
Personal Products—0.4%
Edgewell Personal Care Co. (a) (b)		33,010		1,526,052
Nu Skin Enterprises, Inc. - Class A		33,921		2,795,769
				4,321,821
Pharmaceuticals—0.7%
Akorn, Inc. (a)		57,474		746,012
Catalent, Inc. (a)		88,497		4,031,038
Mallinckrodt plc (a) (b)		50,828		1,489,769
Prestige Brands Holdings, Inc. (a) (b)		31,602		1,197,400
				7,464,219
Professional Services—0.6%
Dun & Bradstreet Corp. (The)		22,679		3,231,984
ManpowerGroup, Inc.		39,642		3,407,627
				6,639,611
Real Estate Management & Development—0.5%
Jones Lang LaSalle, Inc.		27,817		4,014,549
Realogy Holdings Corp. (b)		75,759		1,563,666
				5,578,215
Road & Rail—1.8%
Avis Budget Group, Inc. (a)		40,636		1,306,041
Genesee & Wyoming, Inc. - Class A (a)		36,305		3,303,392
Knight-Swift Transportation Holdings, Inc. (b)		78,335		2,700,991
Landstar System, Inc.		25,102		3,062,444
Old Dominion Freight Line, Inc.		40,071		6,461,849
Ryder System, Inc.		32,433		2,369,879
Werner Enterprises, Inc. (b)		27,131		959,081
				20,163,677
Semiconductors & Semiconductor Equipment—2.5%
Cirrus Logic, Inc. (a)		37,275		1,438,815
Cree, Inc. (a) (b)		62,179		2,354,719
Cypress Semiconductor Corp. (b)		220,849		3,200,102
Semiconductors & Semiconductor Equipment—(Continued)
First Solar, Inc. (a)		46,093		2,231,823
Integrated Device Technology, Inc. (a)		79,013		3,714,401
MKS Instruments, Inc.		33,470		2,682,620
Monolithic Power Systems, Inc.		23,772		2,984,099
Silicon Laboratories, Inc. (a)		26,481		2,430,956
Synaptics, Inc. (a) (b)		21,601		985,438
Teradyne, Inc.		113,887		4,211,541
Versum Materials, Inc.		66,552		2,396,538
				28,631,052
Software—4.6%
ACI Worldwide, Inc. (a)		70,713		1,989,864
Blackbaud, Inc.		29,678		3,011,723
CDK Global, Inc.		79,070		4,946,619
CommVault Systems, Inc. (a)		23,467		1,642,690
Fair Isaac Corp. (a)		17,803		4,068,876
Fortinet, Inc. (a) (b)		87,821		8,103,244
j2 Global, Inc. (b)		28,576		2,367,522
LiveRamp Holdings, Inc. (a)		47,324		2,338,279
LogMeIn, Inc.		31,685		2,823,133
Manhattan Associates, Inc. (a) (b)		40,170		2,193,282
PTC, Inc. (a) (b)		64,780		6,878,988
Tyler Technologies, Inc. (a)		23,611		5,786,112
Ultimate Software Group, Inc. (The) (a)		19,059		6,140,619
				52,290,951
Specialty Retail—2.2%
Aaron’s, Inc.		42,256		2,301,262
American Eagle Outfitters, Inc.		102,928		2,555,702
AutoNation, Inc. (a) (b)		35,132		1,459,735
Bed Bath & Beyond, Inc. (b)		85,600		1,284,000
Dick’s Sporting Goods, Inc. (b)		46,747		1,658,584
Five Below, Inc. (a)		34,041		4,427,372
Michaels Cos., Inc. (The) (a) (b)		59,668		968,412
Murphy USA, Inc. (a)		18,279		1,562,123
Sally Beauty Holdings, Inc. (a) (b)		73,389		1,349,624
Signet Jewelers, Ltd.		31,710		2,090,640
Urban Outfitters, Inc. (a) (b)		46,587		1,905,408
Williams-Sonoma, Inc. (b)		49,208		3,233,950
				24,796,812
Technology Hardware, Storage & Peripherals—0.2%
NCR Corp. (a)		72,020		2,046,088
Textiles, Apparel & Luxury Goods—0.7%
Carter’s, Inc. (b)		28,387		2,798,958
Deckers Outdoor Corp. (a)		18,371		2,178,433
Skechers USA, Inc. - Class A (a) (b)		82,525		2,304,924
				7,282,315
Thrifts & Mortgage Finance—0.5%
LendingTree, Inc. (a) (b)		4,541		1,044,884
New York Community Bancorp, Inc.		299,541		3,106,240
Washington Federal, Inc. (b)		51,029		1,632,928
				5,784,052

BHFTII-183

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—0.8%
GATX Corp. (b)		23,029	$	1,994,081
MSC Industrial Direct Co., Inc. - Class A		28,139		2,479,327
NOW, Inc. (a) (b)		66,211		1,095,792
Watsco, Inc.		19,580		3,487,198
				9,056,398
Water Utilities—0.4%
Aqua America, Inc.		108,680		4,010,292
Wireless Telecommunication Services—0.2%
Telephone & Data Systems, Inc.		56,247		1,711,596
Total Common Stocks (Cost $787,887,170)				1,111,538,578
Mutual Fund—0.6%
Investment Company Security—0.6%
SPDR S&P MidCap 400 ETF Trust (Cost $6,839,976)		18,400		6,761,264
Short-Term Investments—0.6%
Discount Notes—0.2%
Federal Home Loan Bank
2.021%, 11/09/18		475,000		473,894
2.042%, 11/14/18		350,000		349,080
2.085%, 11/21/18		550,000		548,325
2.100%, 11/28/18		525,000		523,181
				1,894,480
U.S. Treasury—0.4%
U.S. Treasury Bill 2.137%, 12/20/18 (d)		4,625,000		4,603,134
Total Short-Term Investments (Cost $6,497,832)				6,497,614
Securities Lending Reinvestments (e)—20.1%
Bank Note—0.3%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (f)		4,000,000		4,000,000
Certificates of Deposit—7.1%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (f)		1,000,000		999,983
Banco Santander S.A. 2.340%, 11/07/18		2,500,000		2,500,205
Bank of Montreal Zero Coupon, 10/31/18		5,987,212		5,988,375
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (f)		2,000,000		1,999,996

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (f)		2,000,000	$	2,001,908
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (f)		2,500,000		2,499,492
2.500%, 02/01/19		2,000,000		1,999,972
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (f)		1,000,000		1,000,587
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (f)		2,000,000		2,000,594
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (f)		5,000,000		5,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (f)		1,250,000		1,250,448
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (f)		2,500,000		2,500,187
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (f)		2,000,000		2,000,080
Credit Industriel et Commercial Zero Coupon, 01/25/19		987,228		992,030
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,000,000		1,000,013
2.500%, 11/15/18		2,500,000		2,499,940
KBC Bank NV 2.400%, 12/27/18		9,000,000		9,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		5,000,000		5,000,010
Mitsubishi UFJ Trust and Banking Corp.
Zero Coupon, 01/15/19		5,954,925		5,956,165
Natixis S.A. New York 2.504%, 1M LIBOR + 0.370%, 02/14/19 (f)		3,000,000		3,002,007
2.533%, 3M LIBOR + 0.190%, 02/01/19 (f)		2,000,000		2,000,162
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (f)		2,000,000		1,999,890
Societe Generale 2.504%, 1M LIBOR + 0.400%, 10/02/18 (f)		2,000,000		1,999,966
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (f)		4,000,000		3,999,532
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (f)		3,000,000		2,999,859
Sumitomo Mitsui Trust Bank, Ltd. 2.502%, 1M LIBOR + 0.320%, 11/21/18 (f)		3,000,000		3,000,000
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (f)		2,000,000		2,000,000
Wells Fargo Bank N.A. 2.475%, 3M LIBOR + 0.140%, 10/26/18 (f)		2,000,000		2,000,332
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (f)		1,500,000		1,500,797
				80,692,530
Commercial Paper—1.9%
Bank of China, Ltd. 2.510%, 11/02/18		4,968,276		4,989,000
2.550%, 12/20/18		2,980,875		2,982,741
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (f)		1,000,000		1,000,103
2.453%, 1M LIBOR + 0.320%, 02/08/19 (f)		4,000,000		4,002,044

BHFTII-184

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Sheffield Receivables Co. 2.490%, 11/26/18		986,928	$	996,159
2.510%, SOFR + 0.350%, 11/28/18 (f)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000		997,834
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (f)		4,000,000		4,003,692
Westpac Banking Corp. 2.408%, 3M LIBOR + 0.070%, 08/07/19 (f)		1,500,000		1,500,000
				20,971,710
Repurchase Agreements—7.8%
Citigroup Global Markets, Inc. Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $2,014,278; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,800,896; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $4,896,001.		4,800,000		4,800,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $3,100,579; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $3,162,002.		3,100,000		3,100,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,500,840; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $4,590,000.		4,500,000		4,500,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $1,018,844; collateralized by various Common Stock with an aggregate market value of $1,113,323.		1,000,000		1,000,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $2,911,502; collateralized by various Common Stock with an aggregate market value of $3,222,613.		2,900,000		2,900,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,119,879; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,141,196.		1,119,673		1,119,673

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $4,240,569; collateralized by various Common Stock with an aggregate market value of $4,400,001.		4,000,000	$	4,000,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $1,039,062; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000		20,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $5,303,090; collateralized by various Common Stock with an aggregate market value of $5,785,807.		5,200,000		5,200,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $4,760,795; collateralized by various Common Stock with an aggregate market value of $5,229,479.		4,700,000		4,700,000
NBC Global Finance, Ltd. Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $1,005,201; collateralized by various Common Stock with an aggregate market value of $1,112,744.		1,000,000		1,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $3,015,405; collateralized by various Common Stock with an aggregate market value of $3,338,232.		3,000,000		3,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $6,181,023; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $6,774,955.		6,100,000		6,100,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $7,494,492; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,218,798.		7,400,000		7,400,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,024,897; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000

BHFTII-185

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $7,792,394; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,551,993.		7,700,000	$	7,700,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $2,011,310; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $4,038,480; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,442,594.		4,000,000		4,000,000
				87,519,673
Time Deposits—3.0%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		5,000,000		5,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		7,000,000		7,000,000
DZ Bank AG 2.150%, 10/01/18		9,000,000		9,000,000
Nordea Bank New York 2.140%, 10/01/18		9,000,000		9,000,000
Time Deposits—(Continued)
Svenska Handelsbanken AB 2.140%, 10/01/18		4,000,000		4,000,000
				34,000,000
Total Securities Lending Reinvestments (Cost $227,172,022)				227,183,913
Total Investments—119.9% (Cost $1,028,397,000)				1,351,981,369
Other assets and liabilities (net)—(19.9)%				(224,584,616	)
Net Assets—100.0%			$	1,127,396,753

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $222,143,189 and the collateral received consisted of cash in the amount of $227,129,118. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2018, the market value of securities pledged was $2,795,600.
(d)	The rate shown represents current yield to maturity.
(e)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(f)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
S&P Midcap 400 Index E-Mini Futures		12/21/18		46		USD	9,315,920	$	(131,167	)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

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

Other Abbreviations

(ETF)— Exchange-Traded Fund

BHFTII-186

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1			Level 2			Level 3		Total
Total Common Stocks*	$	1,111,538,578		$	—		$	—	$	1,111,538,578
Total Mutual Fund*		6,761,264			—			—		6,761,264
Total Short-Term Investments*		—			6,497,614			—		6,497,614
Total Securities Lending Reinvestments*		—			227,183,913			—		227,183,913
Total Investments	$	1,118,299,842		$	233,681,527		$	—	$	1,351,981,369
Collateral for Securities Loaned (Liability)	$	—		$	(227,129,118	)	$	—	$	(227,129,118	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(131,167	)	$	—		$	—	$	(131,167	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-187

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.7%
Arconic, Inc.		124,446	$	2,739,057
Boeing Co. (The)		154,691		57,529,583
General Dynamics Corp.		80,634		16,507,393
Harris Corp.		34,021		5,756,693
Huntington Ingalls Industries, Inc. (a)		12,542		3,211,755
L3 Technologies, Inc. (a)		22,678		4,821,796
Lockheed Martin Corp.		71,733		24,816,749
Northrop Grumman Corp.		50,413		15,999,574
Raytheon Co.		82,590		17,068,049
Rockwell Collins, Inc.		47,588		6,684,686
Textron, Inc.		71,921		5,140,194
TransDigm Group, Inc. (a) (b)		14,019		5,219,274
United Technologies Corp.		217,748		30,443,348
				195,938,151
Air Freight & Logistics—0.7%
C.H. Robinson Worldwide, Inc. (a)		40,112		3,927,767
Expeditors International of Washington, Inc. (a)		50,474		3,711,353
FedEx Corp. (a)		70,437		16,960,525
United Parcel Service, Inc. - Class B		200,753		23,437,913
				48,037,558
Airlines—0.5%
Alaska Air Group, Inc. (a)		35,653		2,455,066
American Airlines Group, Inc. (a)		118,662		4,904,300
Delta Air Lines, Inc.		182,143		10,533,330
Southwest Airlines Co.		149,312		9,324,534
United Continental Holdings, Inc. (a) (b)		66,297		5,904,411
				33,121,641
Auto Components—0.1%
Aptiv plc		76,648		6,430,768
BorgWarner, Inc. (a)		60,472		2,586,992
Goodyear Tire & Rubber Co. (The) (a)		68,621		1,605,045
				10,622,805
Automobiles—0.3%
Ford Motor Co. (a)		1,133,451		10,484,422
General Motors Co.		379,892		12,790,964
Harley-Davidson, Inc.		48,221		2,184,411
				25,459,797
Banks—5.8%
Bank of America Corp.		2,689,413		79,230,107
BB&T Corp. (a)		224,221		10,883,687
Citigroup, Inc.		728,618		52,271,055
Citizens Financial Group, Inc.		137,798		5,314,869
Comerica, Inc.		49,624		4,476,085
Fifth Third Bancorp		192,922		5,386,382
Huntington Bancshares, Inc. (a)		319,700		4,769,924
JPMorgan Chase & Co.		973,058		109,799,865
KeyCorp		304,590		6,058,295
M&T Bank Corp.		41,631		6,849,965
People’s United Financial, Inc. (a)		100,997		1,729,069
PNC Financial Services Group, Inc. (The)		134,427		18,307,613

Security Description	Shares		Value
Banks—(Continued)
Regions Financial Corp. (a)		319,192	$	5,857,173
SunTrust Banks, Inc. (a)		133,392		8,909,252
SVB Financial Group (a) (b)		15,407		4,788,958
U.S. Bancorp		443,349		23,413,261
Wells Fargo & Co.		1,254,950		65,960,172
Zions Bancorp (a)		56,284		2,822,642
				416,828,374
Beverages—1.7%
Brown-Forman Corp. - Class B		48,795		2,466,587
Coca-Cola Co. (The)		1,108,192		51,187,388
Constellation Brands, Inc. - Class A		48,601		10,479,348
Molson Coors Brewing Co. - Class B		54,191		3,332,746
Monster Beverage Corp. (a) (b)		115,177		6,712,516
PepsiCo, Inc.		409,481		45,779,976
				119,958,561
Biotechnology—2.6%
AbbVie, Inc.		438,419		41,465,669
Alexion Pharmaceuticals, Inc. (a) (b)		64,523		8,969,342
Amgen, Inc.		187,401		38,846,353
Biogen, Inc. (b)		58,323		20,606,099
Celgene Corp. (b)		203,641		18,223,833
Gilead Sciences, Inc.		375,322		28,978,612
Incyte Corp. (b)		51,083		3,528,814
Regeneron Pharmaceuticals, Inc. (a) (b)		22,434		9,064,234
Vertex Pharmaceuticals, Inc. (b)		73,991		14,261,025
				183,943,981
Building Products—0.3%
A.O. Smith Corp. (a)		41,849		2,233,481
Allegion plc (a)		27,505		2,491,128
Fortune Brands Home & Security, Inc.		41,234		2,159,012
Johnson Controls International plc (a)		267,787		9,372,545
Masco Corp.		89,022		3,258,205
				19,514,371
Capital Markets—2.7%
Affiliated Managers Group, Inc. (a)		15,470		2,115,058
Ameriprise Financial, Inc. (a)		41,073		6,064,839
Bank of New York Mellon Corp. (The)		266,347		13,581,034
BlackRock, Inc.		35,577		16,768,508
Cboe Global Markets, Inc.		32,374		3,106,609
Charles Schwab Corp. (The)		348,137		17,110,934
CME Group, Inc. (a)		98,610		16,784,408
E*Trade Financial Corp. (b)		75,182		3,938,785
Franklin Resources, Inc. (a)		88,505		2,691,437
Goldman Sachs Group, Inc. (The)		101,660		22,796,238
Intercontinental Exchange, Inc.		166,024		12,433,537
Invesco, Ltd. (a)		118,950		2,721,576
Moody’s Corp.		48,337		8,081,946
Morgan Stanley		383,921		17,879,201
MSCI, Inc. (a)		25,719		4,562,808
Nasdaq, Inc. (a)		33,340		2,860,572
Northern Trust Corp.		64,645		6,602,194

BHFTII-188

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Capital Markets—(Continued)
Raymond James Financial, Inc. (a)		38,014	$	3,499,189
S&P Global, Inc. (a)		72,816		14,227,518
State Street Corp.		109,850		9,203,233
T. Rowe Price Group, Inc.		70,410		7,687,364
				194,716,988
Chemicals—1.8%
Air Products & Chemicals, Inc.		63,485		10,605,169
Albemarle Corp. (a)		31,399		3,132,992
CF Industries Holdings, Inc.		67,594		3,679,817
DowDuPont, Inc.		668,042		42,961,781
Eastman Chemical Co. (a)		40,904		3,915,331
Ecolab, Inc.		73,607		11,540,106
FMC Corp. (a)		38,978		3,398,102
International Flavors & Fragrances, Inc. (a)		26,554		3,694,193
LyondellBasell Industries NV - Class A		92,429		9,474,897
Mosaic Co. (The) (a)		102,671		3,334,754
PPG Industries, Inc.		70,070		7,646,739
Praxair, Inc.		83,260		13,382,380
Sherwin-Williams Co. (The)		23,792		10,830,356
				127,596,617
Commercial Services & Supplies—0.4%
Cintas Corp.		24,924		4,930,216
Copart, Inc. (b)		59,180		3,049,545
Republic Services, Inc.		63,113		4,585,791
Rollins, Inc.		28,425		1,725,028
Stericycle, Inc. (b)		24,866		1,459,137
Waste Management, Inc.		114,194		10,318,570
				26,068,287
Communications Equipment—1.1%
Arista Networks, Inc. (a) (b)		14,948		3,974,075
Cisco Systems, Inc.		1,323,513		64,388,908
F5 Networks, Inc. (a) (b)		17,608		3,511,388
Juniper Networks, Inc.		99,826		2,991,785
Motorola Solutions, Inc.		46,980		6,113,977
				80,980,133
Construction & Engineering—0.1%
Fluor Corp.		40,712		2,365,367
Jacobs Engineering Group, Inc. (a)		34,511		2,640,091
Quanta Services, Inc. (a) (b)		43,083		1,438,111
				6,443,569
Construction Materials—0.1%
Martin Marietta Materials, Inc. (a)		18,244		3,319,496
Vulcan Materials Co. (a)		38,295		4,258,404
				7,577,900
Consumer Finance—0.7%
American Express Co.		204,423		21,769,005
Capital One Financial Corp.		138,516		13,149,324

Security Description	Shares		Value
Consumer Finance—(Continued)
Discover Financial Services		99,208	$	7,584,452
Synchrony Financial		197,290		6,131,773
				48,634,554
Containers & Packaging—0.3%
Avery Dennison Corp.		25,310		2,742,338
Ball Corp.		99,570		4,380,084
International Paper Co.		118,380		5,818,377
Packaging Corp. of America (a)		27,359		3,001,009
Sealed Air Corp.		45,979		1,846,057
WestRock Co.		73,861		3,947,132
				21,734,997
Distributors—0.1%
Genuine Parts Co. (a)		42,488		4,223,307
LKQ Corp. (a) (b)		92,092		2,916,554
				7,139,861
Diversified Consumer Services—0.0%
H&R Block, Inc. (a)		59,503		1,532,202
Diversified Financial Services—1.7%
Berkshire Hathaway, Inc. - Class B (b)		564,407		120,845,183
Jefferies Financial Group, Inc. (a)		83,961		1,843,783
				122,688,966
Diversified Telecommunication Services—2.0%
AT&T, Inc.		2,102,526		70,602,823
CenturyLink, Inc. (a)		275,195		5,834,134
Verizon Communications, Inc.		1,196,296		63,870,244
				140,307,201
Electric Utilities—1.7%
Alliant Energy Corp. (a)		67,683		2,881,265
American Electric Power Co., Inc.		142,716		10,115,710
Duke Energy Corp. (a)		206,244		16,503,645
Edison International (a)		94,330		6,384,255
Entergy Corp.		52,362		4,248,129
Evergy, Inc.		78,660		4,320,007
Eversource Energy		91,746		5,636,874
Exelon Corp.		279,653		12,209,650
FirstEnergy Corp. (a)		140,714		5,230,339
NextEra Energy, Inc. (a)		136,541		22,884,272
PG&E Corp. (b)		149,727		6,888,939
Pinnacle West Capital Corp. (a)		32,419		2,566,937
PPL Corp.		202,542		5,926,379
Southern Co. (The) (a)		293,617		12,801,701
Xcel Energy, Inc. (a)		147,393		6,958,424
				125,556,526
Electrical Equipment—0.5%
AMETEK, Inc.		67,140		5,312,117
Eaton Corp. plc		125,451		10,880,365

BHFTII-189

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electrical Equipment—(Continued)
Emerson Electric Co.		181,956	$	13,934,190
Rockwell Automation, Inc. (a)		35,659		6,686,776
				36,813,448
Electronic Equipment, Instruments & Components—0.4%
Amphenol Corp. - Class A		86,959		8,175,885
Corning, Inc. (a)		234,519		8,278,521
FLIR Systems, Inc.		39,960		2,456,341
IPG Photonics Corp. (a) (b)		10,429		1,627,654
TE Connectivity, Ltd.		100,887		8,870,994
				29,409,395
Energy Equipment & Services—0.7%
Baker Hughes a GE Co.		120,561		4,078,579
Halliburton Co.		254,751		10,325,058
Helmerich & Payne, Inc.		31,541		2,169,075
National Oilwell Varco, Inc. (a)		110,777		4,772,273
Schlumberger, Ltd.		400,736		24,412,837
TechnipFMC plc (a)		123,693		3,865,406
				49,623,228
Entertainment—2.2%
Activision Blizzard, Inc.		220,736		18,363,028
Electronic Arts, Inc. (a) (b)		88,252		10,633,484
Netflix, Inc. (b)		126,076		47,168,814
Take-Two Interactive Software, Inc. (b)		32,956		4,547,598
Twenty-First Century Fox, Inc. - Class A		305,174		14,138,711
Twenty-First Century Fox, Inc. - Class B		141,026		6,461,811
Viacom, Inc. - Class B		102,327		3,454,560
Walt Disney Co. (The) (a)		430,593		50,353,545
				155,121,551
Equity Real Estate Investment Trusts—2.6%
Alexandria Real Estate Equities, Inc.		30,619		3,851,564
American Tower Corp.		127,633		18,545,075
Apartment Investment & Management Co. - Class A		45,556		2,010,386
AvalonBay Communities, Inc.		40,018		7,249,261
Boston Properties, Inc.		44,708		5,503,108
Crown Castle International Corp.		120,106		13,371,401
Digital Realty Trust, Inc.		59,670		6,711,682
Duke Realty Corp.		103,438		2,934,536
Equinix, Inc.		23,020		9,965,128
Equity Residential		106,626		7,065,039
Essex Property Trust, Inc. (a)		19,123		4,717,835
Extra Space Storage, Inc. (a)		36,625		3,173,190
Federal Realty Investment Trust		21,277		2,690,902
HCP, Inc.		136,028		3,580,257
Host Hotels & Resorts, Inc.		214,733		4,530,866
Iron Mountain, Inc. (a)		82,846		2,859,844
Kimco Realty Corp. (a)		122,000		2,042,280
Macerich Co. (The) (a)		30,628		1,693,422
Mid-America Apartment Communities, Inc.		32,951		3,301,031
Prologis, Inc.		182,261		12,355,473
Public Storage		43,384		8,747,516
Realty Income Corp. (a)		83,974		4,777,281
Regency Centers Corp.		49,055		3,172,387
SBA Communications Corp. (a) (b)		33,250		5,340,947
Equity Real Estate Investment Trusts—(Continued)
Simon Property Group, Inc. (a)		89,524		15,823,367
SL Green Realty Corp. (a)		25,063		2,444,394
UDR, Inc. (a)		77,496		3,133,163
Ventas, Inc.		103,197		5,611,853
Vornado Realty Trust (a)		50,121		3,658,833
Welltower, Inc. (a)		107,711		6,927,972
Weyerhaeuser Co.		219,366		7,078,941
				184,868,934
Food & Staples Retailing—1.4%
Costco Wholesale Corp.		126,969		29,822,479
Kroger Co. (The) (a)		230,657		6,714,425
Sysco Corp.		138,448		10,141,316
Walgreens Boots Alliance, Inc.		244,228		17,804,221
Walmart, Inc.		415,491		39,018,760
				103,501,201
Food Products—1.0%
Archer-Daniels-Midland Co.		162,057		8,146,605
Campbell Soup Co. (a)		55,708		2,040,584
Conagra Brands, Inc. (a)		113,390		3,851,858
General Mills, Inc.		172,548		7,405,760
Hershey Co. (The) (a)		40,467		4,127,634
Hormel Foods Corp. (a)		78,718		3,101,489
J.M. Smucker Co. (The) (a)		32,930		3,378,947
Kellogg Co. (a)		73,270		5,130,366
Kraft Heinz Co. (The) (a)		180,031		9,921,509
McCormick & Co., Inc. (a)		35,114		4,626,270
Mondelez International, Inc. - Class A		424,605		18,241,031
Tyson Foods, Inc. - Class A		85,676		5,100,292
				75,072,345
Health Care Equipment & Supplies—3.2%
Abbott Laboratories		507,918		37,260,864
ABIOMED, Inc. (b)		12,993		5,843,602
Align Technology, Inc. (a) (b)		21,162		8,278,998
Baxter International, Inc.		143,855		11,089,782
Becton Dickinson & Co.		77,467		20,218,887
Boston Scientific Corp. (b)		400,390		15,415,015
Cooper Cos., Inc. (The) (a)		14,227		3,943,013
Danaher Corp.		178,285		19,372,448
DENTSPLY SIRONA, Inc. (a)		64,374		2,429,475
Edwards Lifesciences Corp. (a) (b)		60,622		10,554,290
Hologic, Inc. (b)		78,786		3,228,650
IDEXX Laboratories, Inc. (a) (b)		25,070		6,258,976
Intuitive Surgical, Inc. (b)		32,933		18,903,542
Medtronic plc		391,006		38,463,260
ResMed, Inc.		41,326		4,766,541
Stryker Corp. (a)		89,872		15,968,457
Varian Medical Systems, Inc. (a) (b)		26,505		2,966,705
Zimmer Biomet Holdings, Inc. (a)		58,914		7,745,424
				232,707,929
Health Care Providers & Services—3.4%
Aetna, Inc.		94,704		19,210,706
AmerisourceBergen Corp.		46,354		4,274,766
Anthem, Inc.		75,263		20,625,825

BHFTII-190

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
Cardinal Health, Inc.		89,413	$	4,828,302
Centene Corp. (b)		59,427		8,603,841
Cigna Corp.		70,460		14,673,295
CVS Health Corp.		294,754		23,203,035
DaVita, Inc. (b)		36,724		2,630,540
Envision Healthcare Corp. (b)		35,069		1,603,705
Express Scripts Holding Co. (b)		162,779		15,465,633
HCA Healthcare, Inc.		78,147		10,871,811
Henry Schein, Inc. (a) (b)		44,329		3,769,295
Humana, Inc. (a)		39,886		13,502,209
Laboratory Corp. of America Holdings (a) (b)		29,503		5,124,081
McKesson Corp.		57,839		7,672,343
Quest Diagnostics, Inc. (a)		39,568		4,269,783
UnitedHealth Group, Inc.		278,660		74,134,706
Universal Health Services, Inc. - Class B		24,925		3,186,412
WellCare Health Plans, Inc. (b)		14,469		4,637,170
				242,287,458
Health Care Technology—0.1%
Cerner Corp. (a) (b)		95,254		6,135,310
Hotels, Restaurants & Leisure—1.6%
Carnival Corp.		116,754		7,445,402
Chipotle Mexican Grill, Inc. (a) (b)		7,084		3,219,820
Darden Restaurants, Inc. (a)		35,922		3,994,167
Hilton Worldwide Holdings, Inc.		86,332		6,973,899
Marriott International, Inc. - Class A (a)		83,383		11,009,057
McDonald’s Corp.		224,613		37,575,509
MGM Resorts International (a)		147,949		4,129,257
Norwegian Cruise Line Holdings, Ltd. (b)		58,990		3,387,796
Royal Caribbean Cruises, Ltd.		49,612		6,446,583
Starbucks Corp. (a)		390,597		22,201,533
Wynn Resorts, Ltd.		28,310		3,597,069
Yum! Brands, Inc.		91,882		8,352,993
				118,333,085
Household Durables—0.3%
DR Horton, Inc.		99,345		4,190,372
Garmin, Ltd.		34,983		2,450,559
Leggett & Platt, Inc. (a)		37,684		1,650,182
Lennar Corp. - Class A (a)		84,461		3,943,484
Mohawk Industries, Inc. (a) (b)		18,360		3,219,426
Newell Brands, Inc. (a)		125,856		2,554,877
PulteGroup, Inc. (a)		75,652		1,873,900
Whirlpool Corp.		18,693		2,219,794
				22,102,594
Household Products—1.4%
Church & Dwight Co., Inc. (a)		71,051		4,218,298
Clorox Co. (The) (a)		37,084		5,577,804
Colgate-Palmolive Co.		251,231		16,819,915
Kimberly-Clark Corp.		100,657		11,438,662
Procter & Gamble Co. (The)		720,672		59,981,531
				98,036,210
Independent Power and Renewable Electricity Producers—0.1%
AES Corp. (a)		191,573		2,682,022
NRG Energy, Inc. (a)		87,850		3,285,590
				5,967,612
Industrial Conglomerates—1.5%
3M Co.		169,839		35,786,776
General Electric Co.		2,516,280		28,408,801
Honeywell International, Inc.		215,004		35,776,666
Roper Technologies, Inc.		29,921		8,862,899
				108,835,142
Insurance—2.3%
Aflac, Inc.		222,296		10,463,473
Allstate Corp. (The)		100,243		9,893,984
American International Group, Inc.		257,226		13,694,712
Aon plc		70,255		10,803,814
Arthur J. Gallagher & Co. (a)		52,870		3,935,643
Assurant, Inc. (a)		15,282		1,649,692
Brighthouse Financial, Inc. (b) (c)		34,680		1,534,243
Chubb, Ltd. (a)		134,125		17,924,465
Cincinnati Financial Corp. (a)		43,795		3,363,894
Everest Re Group, Ltd. (a)		11,829		2,702,572
Hartford Financial Services Group, Inc. (The)		103,771		5,184,399
Lincoln National Corp.		62,734		4,244,583
Loews Corp.		80,506		4,043,816
Marsh & McLennan Cos., Inc.		146,204		12,093,995
MetLife, Inc. (c)		288,029		13,456,715
Principal Financial Group, Inc. (a)		76,670		4,492,095
Progressive Corp. (The)		168,821		11,993,044
Prudential Financial, Inc.		120,732		12,232,566
Torchmark Corp.		30,017		2,602,174
Travelers Cos., Inc. (The)		77,501		10,052,655
Unum Group		63,320		2,473,912
Willis Towers Watson plc (a)		37,861		5,336,129
				164,172,575
Interactive Media & Services—4.6%
Alphabet, Inc. - Class A (b)		86,543		104,464,324
Alphabet, Inc. - Class C (b) (d)		89,144		106,390,690
Facebook, Inc. - Class A (b)		698,241		114,832,715
TripAdvisor, Inc. (b)		29,616		1,512,489
Twitter, Inc. (b)		208,444		5,932,316
				333,132,534
Internet & Direct Marketing Retail—3.9%
Amazon.com, Inc. (b)		118,619		237,593,857
Booking Holdings, Inc. (a) (b)		13,745		27,270,080
eBay, Inc. (b)		269,309		8,892,583
Expedia Group, Inc. (a)		34,421		4,491,252
				278,247,772
IT Services—4.8%
Accenture plc - Class A		185,512		31,574,142
Akamai Technologies, Inc. (b)		49,075		3,589,836
Alliance Data Systems Corp. (a)		13,681		3,230,905

BHFTII-191

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Automatic Data Processing, Inc.		126,836	$	19,109,112
Broadridge Financial Solutions, Inc. (a)		33,679		4,443,944
Cognizant Technology Solutions Corp. - Class A		167,992		12,960,583
DXC Technology Co.		81,403		7,612,809
Fidelity National Information Services, Inc.		95,202		10,383,682
Fiserv, Inc. (b)		117,236		9,657,902
FleetCor Technologies, Inc. (b)		25,591		5,830,653
Gartner, Inc. (a) (b)		26,294		4,167,599
Global Payments, Inc. (a)		45,798		5,834,665
International Business Machines Corp.		264,269		39,960,115
MasterCard, Inc. - Class A		264,133		58,798,647
Paychex, Inc. (a)		92,684		6,826,177
PayPal Holdings, Inc. (b)		342,702		30,102,944
Total System Services, Inc.		48,589		4,797,678
VeriSign, Inc. (b)		31,063		4,973,808
Visa, Inc. - Class A (a)		514,386		77,204,195
Western Union Co. (The) (a)		129,490		2,468,079
				343,527,475
Leisure Products—0.1%
Hasbro, Inc. (a)		33,812		3,554,317
Mattel, Inc. (a) (b)		99,640		1,564,348
				5,118,665
Life Sciences Tools & Services—1.0%
Agilent Technologies, Inc.		92,291		6,510,207
Illumina, Inc. (b)		42,560		15,622,074
IQVIA Holdings, Inc. (b)		46,923		6,087,790
Mettler-Toledo International, Inc. (a) (b)		7,300		4,445,554
PerkinElmer, Inc. (a)		32,060		3,118,476
Thermo Fisher Scientific, Inc.		116,620		28,464,609
Waters Corp. (a) (b)		22,313		4,343,895
				68,592,605
Machinery—1.5%
Caterpillar, Inc.		172,072		26,239,259
Cummins, Inc. (a)		43,500		6,354,045
Deere & Co.		93,133		14,000,684
Dover Corp.		42,764		3,785,897
Flowserve Corp. (a)		37,885		2,071,931
Fortive Corp. (a)		89,049		7,497,926
Illinois Tool Works, Inc.		89,326		12,605,685
Ingersoll-Rand plc		71,023		7,265,653
PACCAR, Inc.		101,490		6,920,603
Parker-Hannifin Corp.		38,322		7,048,565
Pentair plc (a)		46,721		2,025,355
Snap-on, Inc. (a)		16,330		2,998,188
Stanley Black & Decker, Inc.		44,300		6,487,292
Xylem, Inc.		52,004		4,153,560
				109,454,643
Media—1.2%
CBS Corp. - Class B		98,011		5,630,732
Charter Communications, Inc. - Class A (a) (b)		51,691		16,845,063
Comcast Corp. - Class A		1,323,847		46,877,422
Media—(Continued)
Discovery, Inc. - Class A (a) (b)		45,236		1,447,552
Discovery, Inc. - Class C (b)		104,132		3,080,225
DISH Network Corp. - Class A (a) (b)		66,324		2,371,746
Interpublic Group of Cos., Inc. (The) (a)		111,115		2,541,200
News Corp. - Class A (a)		111,000		1,464,090
News Corp. - Class B (a)		35,834		487,342
Omnicom Group, Inc. (a)		64,961		4,418,647
				85,164,019
Metals & Mining—0.2%
Freeport-McMoRan, Inc.		419,521		5,839,732
Newmont Mining Corp. (a)		154,432		4,663,847
Nucor Corp. (a)		91,589		5,811,322
				16,314,901
Multi-Utilities—0.9%
Ameren Corp. (a)		70,655		4,466,809
CenterPoint Energy, Inc. (a)		142,476		3,939,461
CMS Energy Corp. (a)		82,012		4,018,588
Consolidated Edison, Inc. (a)		90,072		6,862,586
Dominion Energy, Inc. (a)		189,281		13,302,669
DTE Energy Co. (a)		52,628		5,743,294
NiSource, Inc. (a)		105,108		2,619,291
Public Service Enterprise Group, Inc.		146,303		7,723,335
SCANA Corp. (a)		41,293		1,605,885
Sempra Energy (a)		79,173		9,005,929
WEC Energy Group, Inc. (a)		91,354		6,098,793
				65,386,640
Multiline Retail—0.5%
Dollar General Corp.		76,879		8,402,875
Dollar Tree, Inc. (b)		68,874		5,616,675
Kohl’s Corp. (a)		48,267		3,598,305
Macy’s, Inc. (a)		88,876		3,086,663
Nordstrom, Inc. (a)		33,186		1,984,855
Target Corp.		152,391		13,442,410
				36,131,783
Oil, Gas & Consumable Fuels—5.2%
Anadarko Petroleum Corp.		148,258		9,994,072
Apache Corp. (a)		110,739		5,278,928
Cabot Oil & Gas Corp. (a)		127,731		2,876,502
Chevron Corp.		554,771		67,837,398
Cimarex Energy Co. (a)		27,608		2,565,888
Concho Resources, Inc. (a) (b)		57,981		8,856,598
ConocoPhillips		336,455		26,041,617
Devon Energy Corp.		147,310		5,883,561
EOG Resources, Inc.		167,693		21,392,596
EQT Corp. (a)		76,434		3,380,676
Exxon Mobil Corp.		1,225,791		104,216,751
Hess Corp.		72,884		5,217,037
HollyFrontier Corp. (a)		46,926		3,280,127
Kinder Morgan, Inc. (a)		549,480		9,742,280
Marathon Oil Corp.		247,296		5,757,051
Marathon Petroleum Corp. (a)		194,121		15,523,856

BHFTII-192

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Newfield Exploration Co. (a) (b)		57,863	$	1,668,190
Noble Energy, Inc. (a)		139,874		4,362,670
Occidental Petroleum Corp.		221,405		18,192,849
ONEOK, Inc. (a)		119,066		8,071,484
Phillips 66		123,662		13,939,181
Pioneer Natural Resources Co.		49,335		8,593,664
Valero Energy Corp. (a)		123,742		14,075,652
Williams Cos., Inc. (The) (a)		350,142		9,520,361
				376,268,989
Personal Products—0.1%
Coty, Inc. - Class A (a)		130,423		1,638,113
Estee Lauder Cos., Inc. (The) - Class A		64,895		9,430,541
				11,068,654
Pharmaceuticals—4.7%
Allergan plc		92,381		17,596,733
Bristol-Myers Squibb Co.		472,468		29,330,813
Eli Lilly & Co.		276,742		29,697,184
Johnson & Johnson		776,724		107,319,955
Merck & Co., Inc.		769,997		54,623,587
Mylan NV (b)		149,269		5,463,245
Nektar Therapeutics (a) (b)		49,933		3,043,916
Perrigo Co. plc (a)		36,447		2,580,448
Pfizer, Inc.		1,697,224		74,796,662
Zoetis, Inc.		139,500		12,772,620
				337,225,163
Professional Services—0.3%
Equifax, Inc.		34,862		4,551,931
IHS Markit, Ltd. (b)		103,283		5,573,151
Nielsen Holdings plc (a)		103,135		2,852,714
Robert Half International, Inc. (a)		35,450		2,494,971
Verisk Analytics, Inc. (a) (b)		47,687		5,748,668
				21,221,435
Real Estate Management & Development—0.1%
CBRE Group, Inc. - Class A (b)		91,493		4,034,841
Road & Rail—1.0%
CSX Corp.		236,214		17,491,647
J.B. Hunt Transport Services, Inc. (a)		25,326		3,012,274
Kansas City Southern (a)		29,577		3,350,482
Norfolk Southern Corp.		81,076		14,634,218
Union Pacific Corp.		214,102		34,862,229
				73,350,850
Semiconductors & Semiconductor Equipment—3.9%
Advanced Micro Devices, Inc. (a) (b)		248,379		7,672,427
Analog Devices, Inc.		107,607		9,949,343
Applied Materials, Inc.		284,599		10,999,751
Broadcom, Inc.		124,982		30,836,809
Intel Corp.		1,334,997		63,132,008
KLA-Tencor Corp. (a)		45,202		4,597,495
Lam Research Corp.		45,623		6,921,009
Semiconductors & Semiconductor Equipment—(Continued)
Microchip Technology, Inc. (a)		68,200		5,381,662
Micron Technology, Inc. (a) (b)		335,793		15,187,917
NVIDIA Corp.		176,031		49,468,232
Qorvo, Inc. (a) (b)		36,376		2,796,951
QUALCOMM, Inc. (a)		407,192		29,330,040
Skyworks Solutions, Inc.		51,819		4,700,502
Texas Instruments, Inc.		281,474		30,199,346
Xilinx, Inc. (a)		73,224		5,870,368
				277,043,860
Software—6.0%
Adobe Systems, Inc. (b)		141,770		38,270,812
ANSYS, Inc. (b)		24,406		4,556,112
Autodesk, Inc. (b)		63,295		9,880,983
CA, Inc. (a)		90,803		4,008,952
Cadence Design Systems, Inc. (a) (b)		81,879		3,710,756
Citrix Systems, Inc. (a) (b)		37,312		4,147,602
Intuit, Inc.		74,892		17,030,441
Microsoft Corp.		2,220,136		253,916,954
Oracle Corp.		818,375		42,195,415
Red Hat, Inc. (a) (b)		51,354		6,998,523
Salesforce.com, Inc. (a) (b)		219,083		34,840,770
Symantec Corp. (a)		179,950		3,829,336
Synopsys, Inc. (b)		43,020		4,242,202
				427,628,858
Specialty Retail—2.4%
Advance Auto Parts, Inc.		21,448		3,610,342
AutoZone, Inc. (b)		7,654		5,937,208
Best Buy Co., Inc. (a)		70,375		5,584,960
CarMax, Inc. (a) (b)		51,119		3,817,056
Foot Locker, Inc. (a)		33,848		1,725,571
Gap, Inc. (The) (a)		62,821		1,812,386
Home Depot, Inc. (The)		331,256		68,619,680
L Brands, Inc. (a)		66,099		2,002,799
Lowe’s Cos., Inc.		234,804		26,960,195
O’Reilly Automotive, Inc. (b)		23,325		8,101,239
Ross Stores, Inc. (a)		109,018		10,803,684
Tiffany & Co.		31,542		4,067,972
TJX Cos., Inc. (The)		181,553		20,337,567
Tractor Supply Co. (a)		35,265		3,204,883
Ulta Salon Cosmetics & Fragrance, Inc. (b)		16,440		4,638,053
				171,223,595
Technology Hardware, Storage & Peripherals—4.7%
Apple, Inc.		1,328,463		299,887,238
Hewlett Packard Enterprise Co.		426,078		6,949,332
HP, Inc.		458,146		11,806,422
NetApp, Inc. (a)		75,064		6,447,247
Seagate Technology plc (a)		75,663		3,582,643
Western Digital Corp. (a)		84,354		4,938,083
Xerox Corp. (a)		64,256		1,733,627
				335,344,592

BHFTII-193

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Textiles, Apparel & Luxury Goods—0.8%
Hanesbrands, Inc. (a)		104,375	$	1,923,631
Michael Kors Holdings, Ltd. (b)		43,232		2,963,986
NIKE, Inc. - Class B		370,733		31,408,500
PVH Corp.		22,211		3,207,269
Ralph Lauren Corp. (a)		15,996		2,200,250
Tapestry, Inc.		83,394		4,192,216
Under Armour, Inc. - Class A (a) (b)		53,870		1,143,121
Under Armour, Inc. - Class C (a) (b)		55,229		1,074,756
VF Corp.		94,124		8,795,888
				56,909,617
Tobacco—1.0%
Altria Group, Inc.		545,804		32,917,439
Philip Morris International, Inc.		450,068		36,698,545
				69,615,984
Trading Companies & Distributors—0.2%
Fastenal Co. (a)		83,078		4,820,185
United Rentals, Inc. (b)		23,958		3,919,529
WW Grainger, Inc.		13,165		4,705,303
				13,445,017
Water Utilities—0.1%
American Water Works Co., Inc. (a)		52,257		4,597,048
Total Common Stocks (Cost $3,211,376,754)				7,117,440,597
Mutual Fund—0.2%
Investment Company Security—0.2%
SPDR S&P 500 ETF Trust (a) (Cost $15,132,375)		53,000		15,408,160
Short-Term Investments—0.4%
Discount Notes—0.3%
Fannie Mae 0.010%, 10/01/18 (e)		550,000		550,000
Federal Home Loan Bank 1.936%, 10/24/18 (e)		1,325,000		1,323,214
2.042%, 11/14/18 (e)		1,225,000		1,221,781
2.084%, 11/21/18 (e)		3,650,000		3,638,882
2.098%, 11/07/18 (e)		300,000		299,337
2.104%, 11/28/18 (e)		7,525,000		7,498,933
2.159%, 12/12/18 (e)		2,200,000		2,190,408
Freddie Mac 2.016%, 11/13/18 (e)		5,200,000		5,186,646
2.094%, 12/04/18 (e)		750,000		747,093
				22,656,294

Security Description	Principal Amount*		Value
U.S. Treasury—0.1%
U.S. Treasury Bills 2.041%, 11/29/18 (e)		1,425,000	$	1,420,052
2.060%, 11/15/18 (e)		375,000		374,023
2.104%, 12/13/18 (e)		3,475,000		3,460,044
				5,254,119
Total Short-Term Investments (Cost $27,912,917)				27,910,413
Securities Lending Reinvestments (f)—11.0%
Bank Note—0.1%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (g)		5,000,000		5,000,000
Certificates of Deposit—5.6%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (g)		5,000,000		4,999,915
2.466%, 1M LIBOR + 0.250%, 03/20/19 (g)		10,000,000		9,999,480
Banco Santander S.A. 2.340%, 11/07/18		15,000,000		15,001,230
Bank of Montreal
Zero Coupon, 10/31/18		11,974,425		11,976,750
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (g)		5,000,000		4,999,990
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (g)		15,000,000		15,014,310
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (g)		5,000,000		4,998,985
2.500%, 02/01/19		8,000,000		7,999,888
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (g)		15,000,000		15,008,805
Chiba Bank, Ltd., New York 2.190%, 10/05/18		2,000,000		1,999,962
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (g)		12,000,000		12,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (g)		4,000,000		4,001,432
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (g)		10,500,000		10,500,786
2.543%, 3M LIBOR + 0.200%, 04/05/19 (g)		10,000,000		10,007,660
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (g)		10,000,000		10,000,400
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		7,500,000		7,500,097
2.500%, 11/15/18		20,000,000		19,999,520
2.530%, 12/24/18		3,000,000		2,999,934
KBC Bank NV 2.400%, 12/27/18		10,000,000		10,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		30,000,000		30,000,060
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		7,939,899		7,941,554
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (g)		10,000,000		9,999,670

BHFTII-194

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (g)		5,000,000	$	4,999,605
2.504%, 1M LIBOR + 0.370%, 02/14/19 (g)		10,000,000		10,006,690
2.533%, 3M LIBOR + 0.190%, 02/01/19 (g)		10,000,000		10,000,810
Nordea Bank New York 2.543%, 3M LIBOR + 0.200%, 04/05/19 (g)		10,000,000		10,000,000
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (g)		15,000,000		14,999,175
Societe Generale 2.504%, 1M LIBOR + 0.400%, 10/02/18 (g)		10,000,000		9,999,830
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (g)		13,000,000		12,998,479
2.551%, 1M LIBOR + 0.420%, 10/11/18 (g)		10,000,000		10,000,500
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (g)		15,000,000		14,999,295
Sumitomo Mitsui Banking Corp., New York 2.290%, 1M LIBOR + 0.180%, 03/05/19 (g)		5,000,000		4,999,415
Sumitomo Mitsui Trust Bank, Ltd. 2.423%, 3M LIBOR + 0.090%, 10/18/18 (g)		10,001,256		9,999,930
2.443%, 3M LIBOR + 0.110%, 10/11/18 (g)		8,000,000		8,000,056
2.502%, 1M LIBOR + 0.320%, 11/21/18 (g)		8,000,000		8,000,000
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (g)		10,000,000		10,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (g)		15,000,000		15,001,785
2.554%, 1M LIBOR + 0.450%, 04/03/19 (g)		7,000,000		7,010,325
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (g)		5,000,000		5,000,000
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (g)		11,000,000		11,005,842
				403,972,165
Commercial Paper—1.7%
Bank of China, Ltd. 2.510%, 11/02/18		20,866,761		20,953,800
2.550%, 10/19/18		4,969,188		4,993,580
2.550%, 12/20/18		4,968,125		4,971,235
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (g)		10,000,000		10,001,030
2.453%, 1M LIBOR + 0.320%, 02/08/19 (g)		15,000,000		15,007,665
Mont Blanc Capital Corp. 2.310%, 12/14/18		8,060,136		8,066,657
Sheffield Receivables Co. 2.490%, 11/26/18		18,258,159		18,428,942
2.510%, SOFR + 0.350%, 11/28/18 (g)		3,000,000		3,000,821
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		9,940,000		9,978,340
Starbird Funding Corp. 2.280%, 11/08/18		9,943,000		9,974,460
Victory Receivables Corp. 2.320%, 12/18/18		9,942,000		9,947,040
Westpac Banking Corp. 2.408%, 3M LIBOR + 0.070%, 08/07/19 (g)		7,500,000		7,500,000
				122,823,570

Security Description	Principal Amount*		Value
Repurchase Agreements—3.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $22,736,375; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $23,721,436.		22,500,000	$	22,500,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $18,128,500; collateralized by various Common Stock with an aggregate market value of $19,800,002.		18,000,000		18,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $1,053,267; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $6,201,157; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $6,324,001.		6,200,000		6,200,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $1,003,966; collateralized by various Common Stock with an aggregate market value of $1,111,246.		1,000,000		1,000,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $2,641,247; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $2,691,524.		2,640,763		2,640,763
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $11,767,579; collateralized by various Common Stock with an aggregate market value of $12,210,001.		11,100,000		11,100,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $12,468,747; collateralized by various Common Stock with an aggregate market value of $13,200,001.		12,000,000		12,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000		20,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $6,178,904; collateralized by various Common Stock with an aggregate market value of $6,787,196.		6,100,000		6,100,000

BHFTII-195

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $18,897,776; collateralized by various Common Stock with an aggregate market value of $20,919,590.		18,800,000	$	18,800,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $30,154,050; collateralized by various Common Stock with an aggregate market value of $33,382,324.		30,000,000		30,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $4,053,130; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,442,594.		4,000,000		4,000,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $2,024,897; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,011,999; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $15,989,915; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $17,659,310.		15,900,000		15,900,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $10,110,500; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $11,106,484.		10,000,000		10,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $39,375,180; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $43,315,287.		39,000,000		39,000,000
				221,240,763

Security Description	Principal Amount*		Value
Time Deposits—0.5%
Cooperative Rabobank UA New York 2.150%, 10/01/18		5,000,000	$	5,000,000
DZ Bank AG 2.150%, 10/01/18		4,000,000		4,000,000
Nordea Bank New York 2.140%, 10/01/18		4,000,000		4,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		20,000,000		20,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		4,000,000		4,000,000
				37,000,000
Total Securities Lending Reinvestments (Cost $789,980,581)				790,036,498
Total Investments—110.9% (Cost $4,044,402,627)				7,950,795,668
Other assets and liabilities (net)—(10.9)%				(783,711,307	)
Net Assets—100.0%			$	7,167,084,361

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $773,700,540 and the collateral received consisted of cash in the amount of $789,603,711. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Affiliated Issuer.
(d)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2018, the market value of securities pledged was $23,935,041.
(e)	The rate shown represents current yield to maturity.
(f)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(g)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation
S&P 500 Index E-Mini Futures		12/21/18		230		USD	33,568,500	$	87,642

BHFTII-196

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

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

Other Abbreviations

(ETF)— Exchange-Traded Fund

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	7,117,440,597	$	—		$	—	$	7,117,440,597
Total Mutual Fund*		15,408,160		—			—		15,408,160
Total Short-Term Investments*		—		27,910,413			—		27,910,413
Total Securities Lending Reinvestments*		—		790,036,498			—		790,036,498
Total Investments	$	7,132,848,757	$	817,946,911		$	—	$	7,950,795,668
Collateral for Securities Loaned (Liability)	$	—	$	(789,603,711	)	$	—	$	(789,603,711	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	87,642	$	—		$	—	$	87,642

* See Schedule of Investments for additional detailed categorizations.

BHFTII-197

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—94.3% of Net Assets

Security Description	Shares		Value
Australia—6.7%
AGL Energy, Ltd.		45,920	$	649,211
Alumina, Ltd.		191,453		382,767
Amcor, Ltd.		83,280		822,487
AMP, Ltd.		197,480		455,724
APA Group		80,604		583,635
Aristocrat Leisure, Ltd.		41,217		843,466
ASX, Ltd.		14,426		662,077
Aurizon Holdings, Ltd.		157,842		468,869
AusNet Services		135,720		159,973
Australia & New Zealand Banking Group, Ltd.		210,073		4,274,169
Bank of Queensland, Ltd.		24,917		198,624
Bendigo & Adelaide Bank, Ltd.		35,779		278,197
BGP Holdings plc (a) (b) (c) (d)		713,624		0
BHP Billiton plc		154,705		3,363,633
BHP Billiton, Ltd.		234,635		5,846,337
BlueScope Steel, Ltd.		45,759		560,514
Boral, Ltd.		86,560		430,426
Brambles, Ltd.		109,798		866,016
Caltex Australia, Ltd.		18,604		402,477
Challenger, Ltd.		44,035		356,780
CIMIC Group, Ltd.		8,428		312,213
Coca-Cola Amatil, Ltd.		42,510		300,219
Cochlear, Ltd.		4,099		598,424
Commonwealth Bank of Australia		127,215		6,570,841
Computershare, Ltd.		28,910		415,711
Crown Resorts, Ltd.		29,464		291,121
CSL, Ltd.		32,919		4,764,474
Dexus		77,269		590,223
Domino’s Pizza Enterprises, Ltd.		4,557		176,002
Flight Centre Travel Group, Ltd.		4,135		158,405
Fortescue Metals Group, Ltd.		125,869		357,053
Goodman Group (REIT)		118,280		889,336
GPT Group (The) (REIT)		140,241		527,127
Healthscope, Ltd.		130,293		197,736
Incitec Pivot, Ltd.		131,085		377,384
Insurance Australia Group, Ltd.		184,566		977,371
Lend Lease Group (REIT)		39,184		555,735
Macquarie Group, Ltd.		23,361		2,117,172
Medibank Private, Ltd.		199,900		420,864
Mirvac Group (REIT)		272,935		475,889
National Australia Bank, Ltd.		198,109		3,985,308
Newcrest Mining, Ltd.		51,539		722,340
Oil Search, Ltd.		104,563		680,062
Orica, Ltd.		26,176		321,238
Origin Energy, Ltd. (b)		119,590		711,202
QBE Insurance Group, Ltd.		110,125		885,951
Ramsay Health Care, Ltd.		10,616		421,862
REA Group, Ltd.		4,158		258,431
Rio Tinto, Ltd.		31,207		1,769,348
Santos, Ltd.		145,305		760,333
Scentre Group (REIT)		367,395		1,051,016
Seek, Ltd.		22,233		332,659
Sonic Healthcare, Ltd.		32,696		591,184
South32, Ltd.		363,229		1,025,898
Stockland (REIT)		162,137		485,723
Suncorp Group, Ltd.		95,658		997,576
Sydney Airport		80,467		401,438

Security Description	Shares		Value
Australia—(Continued)
Tabcorp Holdings, Ltd.		153,298	$	538,813
Telstra Corp., Ltd.		309,539		714,481
TPG Telecom, Ltd.		27,310		168,363
Transurban Group		183,536		1,485,169
Treasury Wine Estates, Ltd.		53,467		673,245
Vicinity Centres (REIT)		252,185		478,017
Wesfarmers, Ltd.		80,874		2,916,278
Westpac Banking Corp.		248,548		5,010,520
Woodside Petroleum, Ltd.		65,682		1,825,564
Woolworths Group, Ltd.		97,245		1,970,448
				73,861,149
Austria—0.2%
Andritz AG		5,828		340,146
Erste Group Bank AG (b)		20,408		846,813
OMV AG		9,828		551,916
Raiffeisen Bank International AG		9,390		270,119
Voestalpine AG		9,525		435,382
				2,444,376
Belgium—1.0%
Ageas		12,505		672,360
Anheuser-Busch InBev S.A.		55,258		4,838,001
Colruyt S.A. (e)		4,373		247,429
Groupe Bruxelles Lambert S.A.		5,864		614,580
KBC Group NV		17,769		1,321,523
Proximus SADP		11,920		284,917
Solvay S.A.		5,735		768,582
Telenet Group Holding NV (b)		4,184		230,447
UCB S.A.		9,619		863,665
Umicore S.A.		15,189		848,817
				10,690,321
Chile—0.0%
Antofagasta plc		26,957		299,851
China—0.1%
BOC Hong Kong Holdings, Ltd.		258,465		1,221,138
Minth Group, Ltd.		54,000		220,901
				1,442,039
Denmark—1.6%
AP Moller - Maersk A/S - Class A		274		359,327
AP Moller - Maersk A/S - Class B		493		692,178
Carlsberg A/S - Class B		7,850		941,644
Chr Hansen Holding A/S		7,473		758,021
Coloplast A/S - Class B		8,619		881,150
Danske Bank A/S		53,890		1,414,401
DSV A/S		14,050		1,277,241
Genmab A/S (b)		4,236		666,065
H Lundbeck A/S		5,421		334,544
ISS A/S		12,164		427,675
Novo Nordisk A/S - Class B		132,271		6,228,999
Novozymes A/S - B Shares		16,399		898,663
Orsted A/S		14,039		953,622

BHFTII-198

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Denmark—(Continued)
Pandora A/S		7,708	$	482,033
Tryg A/S		8,735		217,489
Vestas Wind Systems A/S		13,376		903,806
William Demant Holding A/S (b)		7,349		276,085
				17,712,943
Finland—1.0%
Elisa Oyj		9,227		391,500
Fortum Oyj		30,377		761,730
Kone Oyj - Class B		26,344		1,406,972
Metso Oyj		7,511		265,482
Neste Oyj		9,073		749,501
Nokia Oyj		432,039		2,397,043
Nokian Renkaat Oyj		7,495		306,839
Orion Oyj - Class B		8,084		306,154
Sampo Oyj - A Shares		32,484		1,681,323
Stora Enso Oyj - R Shares		40,497		773,752
UPM-Kymmene Oyj		37,640		1,475,325
Wartsila Oyj Abp		31,392		612,159
				11,127,780
France—10.3%
Accor S.A.		13,973		716,596
Aeroports de Paris		2,209		497,484
Air Liquide S.A.		30,993		4,072,447
Airbus SE		42,287		5,303,798
Alstom S.A.		9,907		442,524
Amundi S.A.		4,463		334,546
Arkema S.A.		5,073		627,838
Atos SE		7,084		842,228
AXA S.A.		140,288		3,767,916
BioMerieux		3,058		254,866
BNP Paribas S.A.		81,356		4,974,055
Bollore S.A.		61,600		266,148
Bouygues S.A.		14,921		644,570
Bureau Veritas S.A.		19,643		506,658
Capgemini SE		11,166		1,405,823
Carrefour S.A.		42,889		821,902
Cie de St-Gobain		37,286		1,608,523
Cie Generale des Etablissements Michelin		12,172		1,453,805
CNP Assurances		10,520		253,458
Covivio		3,163		329,599
Credit Agricole S.A.		81,608		1,172,879
Danone S.A.		44,560		3,451,017
Dassault Aviation S.A.		183		338,339
Dassault Systemes SE		9,434		1,408,522
Edenred		17,136		652,620
Eiffage S.A.		5,760		642,936
Electricite de France S.A.		42,972		754,204
Engie S.A.		134,009		1,969,212
Essilor International Cie Generale d’Optique S.A.		15,153		2,241,537
Eurazeo S.A.		2,731		215,086
Eutelsat Communications S.A.		14,990		354,130
Faurecia S.A.		5,604		336,644
Gecina S.A. (REIT)		3,720		621,378
Getlink SE		32,808		419,166

Security Description	Shares		Value
France—(Continued)
Hermes International		2,306	$	1,526,589
ICADE (REIT)		2,561		237,405
Iliad S.A.		1,762		230,084
Imerys S.A.		2,253		166,421
Ingenico Group S.A.		4,093		311,105
Ipsen S.A.		2,947		495,245
JCDecaux S.A.		4,706		172,166
Kering S.A.		5,564		2,976,339
Klepierre S.A. (REIT)		16,658		590,403
L’Oreal S.A.		18,412		4,435,050
Legrand S.A.		18,736		1,364,818
LVMH Moet Hennessy Louis Vuitton SE		20,298		7,169,286
Natixis S.A.		61,192		414,818
Orange S.A.		146,174		2,329,498
Pernod-Ricard S.A.		15,201		2,494,654
Peugeot S.A.		40,345		1,085,720
Publicis Groupe S.A.		15,420		920,046
Remy Cointreau S.A.		1,860		242,350
Renault S.A.		14,189		1,226,157
Rexel S.A.		20,752		311,579
Safran S.A.		24,628		3,448,126
Sanofi		82,145		7,330,145
Schneider Electric SE		39,783		3,201,883
SCOR SE		11,686		542,606
SEB S.A.		1,809		307,862
Societe BIC S.A.		2,149		196,812
Societe Generale S.A.		55,187		2,367,504
Sodexo S.A.		6,778		718,196
Suez		28,840		409,668
Teleperformance SE		4,265		804,845
Thales S.A.		7,807		1,108,683
Total S.A.		174,203		11,251,672
UBISOFT Entertainment S.A. (b)		5,696		616,651
Unibail-Rodamco-Westfield		9,927		1,994,684
Valeo S.A.		18,217		791,295
Veolia Environnement S.A.		38,959		777,439
Vinci S.A.		37,291		3,548,880
Vivendi S.A.		76,316		1,962,878
Wendel S.A.		2,267		337,311
				114,119,327
Germany—8.4%
1&1 Drillisch AG		3,915		190,514
adidas AG		13,435		3,291,041
Allianz SE		32,433		7,227,818
Axel Springer SE		3,006		202,331
BASF SE		66,273		5,892,005
Bayer AG		67,889		6,033,143
Bayerische Motoren Werke AG		23,596		2,126,230
Beiersdorf AG		7,090		800,280
Brenntag AG		11,405		704,205
Commerzbank AG (b)		77,199		804,815
Continental AG		8,198		1,427,624
Covestro AG		13,863		1,124,232
Daimler AG		66,196		4,171,517
Delivery Hero AG (b)		6,695		321,917

BHFTII-199

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Germany—(Continued)
Deutsche Bank AG		146,810	$	1,674,899
Deutsche Boerse AG		14,033		1,880,942
Deutsche Lufthansa AG		17,782		437,062
Deutsche Post AG		71,872		2,563,941
Deutsche Telekom AG		241,713		3,896,679
Deutsche Wohnen SE		24,681		1,184,385
E.ON SE		159,780		1,629,431
Evonik Industries AG		13,109		469,725
Fraport AG Frankfurt Airport Services Worldwide		3,260		288,152
Fresenius Medical Care AG & Co. KGaA		15,649		1,609,954
Fresenius SE & Co. KGaA		30,614		2,248,686
GEA Group AG		14,300		509,578
Hannover Rueck SE		4,145		585,707
HeidelbergCement AG		10,444		816,691
Henkel AG & Co. KGaA		7,933		842,854
HOCHTIEF AG		1,646		273,009
Hugo Boss AG		4,934		380,069
Infineon Technologies AG		84,354		1,917,299
Innogy SE		11,200		500,578
K&S AG		14,121		296,482
KION Group AG		5,441		334,566
LANXESS AG		5,571		408,173
Linde AG		13,532		3,201,448
MAN SE		3,022		328,742
Merck KGaA		9,421		973,858
METRO AG		15,747		246,829
MTU Aero Engines AG		3,839		865,097
Muenchener Rueckversicherungs-Gesellschaft AG		10,610		2,350,832
OSRAM Licht AG		7,381		293,565
ProSiebenSat.1 Media SE		14,779		383,999
Puma SE		604		298,157
RWE AG		39,146		965,989
SAP SE		71,302		8,778,627
Siemens AG		55,353		7,090,358
Siemens Healthineers AG (b)		10,900		479,511
Symrise AG		8,745		798,221
Telefonica Deutschland Holding AG		58,800		248,666
ThyssenKrupp AG		31,577		797,997
TUI AG		30,068		576,528
Uniper SE		14,858		457,066
United Internet AG		8,781		415,614
Volkswagen AG		2,495		433,977
Vonovia SE		35,809		1,750,197
Wirecard AG		8,665		1,877,252
Zalando SE (b)		8,719		339,065
				93,018,129
Hong Kong—3.1%
AIA Group, Ltd.		879,000		7,857,088
ASM Pacific Technology, Ltd.		19,600		199,665
Bank of East Asia, Ltd. (The)		103,920		385,534
CK Asset Holdings, Ltd.		188,440		1,406,815
CK Hutchison Holdings, Ltd.		201,440		2,310,712
CK Infrastructure Holdings, Ltd.		49,500		392,280
CLP Holdings, Ltd.		116,377		1,362,592
Dairy Farm International Holdings, Ltd.		24,600		221,355

Security Description	Shares		Value
Hong Kong—(Continued)
Galaxy Entertainment Group, Ltd.		173,000	$	1,083,634
Hang Lung Group, Ltd.		74,000		196,766
Hang Lung Properties, Ltd.		162,000		316,854
Hang Seng Bank, Ltd.		54,400		1,470,089
Henderson Land Development Co., Ltd.		91,192		458,409
HK Electric Investments & HK Electric Investments, Ltd.		197,500		199,412
HKT Trust & HKT, Ltd.		277,980		382,330
Hong Kong & China Gas Co., Ltd.		693,469		1,373,104
Hong Kong Exchanges and Clearing, Ltd.		84,300		2,396,431
Hongkong Land Holdings, Ltd.		86,500		572,263
Hysan Development Co., Ltd.		45,000		227,386
Jardine Matheson Holdings, Ltd.		16,900		1,060,376
Jardine Strategic Holdings, Ltd.		14,600		529,941
Kerry Properties, Ltd.		57,500		195,152
Link REIT (REIT)		162,641		1,600,920
Melco Resorts & Entertainment, Ltd. (ADR)		19,800		418,770
MTR Corp., Ltd.		110,500		579,804
New World Development Co., Ltd.		463,707		628,403
NWS Holdings, Ltd.		99,000		195,835
PCCW, Ltd.		316,000		184,181
Power Assets Holdings, Ltd.		107,549		747,350
Sino Land Co., Ltd.		247,600		424,425
SJM Holdings, Ltd.		144,000		131,346
Sun Hung Kai Properties, Ltd.		116,250		1,694,106
Swire Pacific, Ltd. - Class A		36,817		403,568
Swire Properties, Ltd.		83,600		316,810
Techtronic Industries Co., Ltd.		95,000		607,239
WH Group, Ltd.		654,000		460,789
Wharf Holdings, Ltd. (The)		87,976		238,323
Wharf Real Estate Investment Co., Ltd.		87,976		567,915
Wheelock & Co., Ltd.		68,000		408,117
Yue Yuen Industrial Holdings, Ltd.		50,500		140,377
				34,346,466
Ireland—0.6%
AerCap Holdings NV (b)		10,200		586,704
AIB Group plc		60,112		307,890
Bank of Ireland Group plc		80,170		614,034
CRH plc		63,163		2,065,661
James Hardie Industries plc		31,140		470,636
Kerry Group plc - Class A		11,539		1,276,003
Paddy Power Betfair plc		6,200		529,251
Smurfit Kappa Group plc		16,402		648,770
				6,498,949
Israel—0.5%
Azrieli Group, Ltd.		3,090		158,628
Bank Hapoalim B.M.		79,475		581,075
Bank Leumi Le-Israel B.M.		109,068		718,613
Bezeq The Israeli Telecommunication Corp., Ltd.		160,513		184,542
Check Point Software Technologies, Ltd. (b)		9,300		1,094,331
Elbit Systems, Ltd.		1,987		251,774
Frutarom Industries, Ltd.		1,825		188,946
Israel Chemicals, Ltd.		54,463		333,466
Mizrahi Tefahot Bank, Ltd.		11,922		208,742

BHFTII-200

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Israel—(Continued)
Nice, Ltd. (b)		4,746	$	544,149
Teva Pharmaceutical Industries, Ltd. (ADR) (e)		70,353		1,515,404
				5,779,670
Italy—1.9%
Assicurazioni Generali S.p.A.		93,308		1,609,418
Atlantia S.p.A.		36,067		747,132
Davide Campari-Milano S.p.A.		42,874		365,134
Enel S.p.A.		602,326		3,079,066
Eni S.p.A.		184,398		3,479,148
Ferrari NV		8,377		1,150,351
Intesa Sanpaolo S.p.A.		1,083,294		2,758,173
Leonardo S.p.A.		28,782		347,006
Luxottica Group S.p.A.		13,581		922,051
Mediobanca S.p.A.		44,816		446,496
Moncler S.p.A.		13,024		560,628
Pirelli & C S.p.A. (b)		29,117		244,161
Poste Italiane S.p.A.		41,357		330,585
Prysmian S.p.A.		16,202		376,301
Recordati S.p.A.		8,194		276,720
Snam S.p.A.		162,854		677,414
Telecom Italia S.p.A. (b)		826,906		501,318
Telecom Italia S.p.A. - Risparmio Shares		437,140		234,827
Terna Rete Elettrica Nazionale S.p.A.		92,957		495,630
UniCredit S.p.A.		142,434		2,136,323
				20,737,882
Japan—23.3%
Aeon Co., Ltd.		41,500		1,000,346
AEON Financial Service Co., Ltd.		8,400		174,003
Air Water, Inc.		10,000		183,600
Aisin Seiki Co., Ltd.		10,600		516,225
Ajinomoto Co., Inc.		31,900		547,628
Alfresa Holdings Corp.		15,300		409,564
Alps Electric Co., Ltd.		13,100		332,914
Amada Holdings Co., Ltd.		27,000		288,144
ANA Holdings, Inc.		8,400		293,515
Aozora Bank, Ltd.		9,600		343,134
Asahi Glass Co., Ltd.		12,600		523,167
Asahi Group Holdings, Ltd.		27,300		1,183,873
Asahi Kasei Corp.		97,000		1,471,767
Asics Corp.		11,000		163,664
Astellas Pharma, Inc.		141,100		2,462,425
Bandai Namco Holdings, Inc.		16,000		621,900
Bank of Kyoto, Ltd. (The)		4,400		229,698
Benesse Holdings, Inc.		5,400		153,816
Bridgestone Corp.		44,400		1,678,428
Brother Industries, Ltd.		16,400		323,980
Calbee, Inc. (e)		5,500		180,977
Canon, Inc.		72,900		2,308,188
Casio Computer Co., Ltd. (e)		16,900		276,345
Central Japan Railway Co.		10,800		2,249,584
Chiba Bank, Ltd. (The)		49,000		334,744
Chubu Electric Power Co., Inc.		45,700		691,482
Chugai Pharmaceutical Co., Ltd.		16,800		1,079,788
Chugoku Electric Power Co., Inc. (The) (e)		23,700		304,629

Security Description	Shares		Value
Japan—(Continued)
Coca-Cola Bottlers Japan Holdings, Inc.		9,900	$	264,949
Concordia Financial Group, Ltd.		83,000		406,997
Credit Saison Co., Ltd.		10,500		171,210
CyberAgent, Inc.		7,400		393,829
Dai Nippon Printing Co., Ltd.		20,000		465,297
Dai-ichi Life Holdings, Inc.		75,800		1,578,499
Daicel Corp.		22,000		255,728
Daifuku Co., Ltd. (e)		7,400		377,356
Daiichi Sankyo Co., Ltd.		42,100		1,825,813
Daikin Industries, Ltd.		18,200		2,424,053
Daito Trust Construction Co., Ltd.		5,200		669,062
Daiwa House Industry Co., Ltd.		42,500		1,260,485
Daiwa House REIT Investment Corp. (REIT)		110		251,695
Daiwa Securities Group, Inc.		118,000		716,512
Denso Corp.		31,000		1,637,177
Dentsu, Inc.		16,600		768,009
Disco Corp.		2,300		384,506
Don Quijote Holdings Co., Ltd.		8,200		415,098
East Japan Railway Co.		22,300		2,072,538
Eisai Co., Ltd.		18,200		1,772,628
Electric Power Development Co., Ltd.		10,900		301,746
FamilyMart UNY Holdings Co., Ltd.		5,200		540,144
FANUC Corp.		14,000		2,640,929
Fast Retailing Co., Ltd.		4,300		2,185,623
Fuji Electric Co., Ltd.		8,600		344,588
FUJIFILM Holdings Corp.		29,400		1,324,193
Fujitsu, Ltd.		14,600		1,040,197
Fukuoka Financial Group, Inc.		10,600		291,616
Hakuhodo DY Holdings, Inc.		17,600		308,799
Hamamatsu Photonics KK		9,600		382,430
Hankyu Hanshin Holdings, Inc.		16,400		581,850
Hikari Tsushin, Inc.		1,800		355,984
Hino Motors, Ltd.		19,000		208,150
Hirose Electric Co., Ltd.		2,415		263,602
Hisamitsu Pharmaceutical Co., Inc.		4,500		345,125
Hitachi Chemical Co., Ltd.		8,500		173,082
Hitachi Construction Machinery Co., Ltd.		8,900		297,728
Hitachi High-Technologies Corp.		5,500		189,561
Hitachi Metals, Ltd.		20,000		247,728
Hitachi, Ltd.		70,200		2,386,243
Honda Motor Co., Ltd.		118,800		3,597,746
Hoshizaki Corp.		4,100		424,563
Hoya Corp.		29,000		1,722,142
Hulic Co., Ltd.		17,100		167,897
Idemitsu Kosan Co., Ltd.		10,500		555,550
IHI Corp.		12,200		462,376
Iida Group Holdings Co., Ltd.		12,700		226,010
Inpex Corp.		71,100		885,243
Isetan Mitsukoshi Holdings, Ltd.		26,900		330,426
Isuzu Motors, Ltd.		43,700		689,022
ITOCHU Corp.		105,400		1,930,465
J Front Retailing Co., Ltd.		17,900		277,673
Japan Airlines Co., Ltd.		8,400		302,046
Japan Airport Terminal Co., Ltd.		3,500		159,299
Japan Exchange Group, Inc.		38,100		664,121
Japan Post Bank Co., Ltd.		30,800		364,162
Japan Post Holdings Co., Ltd.		119,400		1,421,160

BHFTII-201

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Japan Prime Realty Investment Corp. (REIT)		51	$	181,851
Japan Real Estate Investment Corp. (REIT)		96		503,733
Japan Retail Fund Investment Corp. (REIT)		202		366,529
Japan Tobacco, Inc.		79,300		2,070,936
JFE Holdings, Inc.		35,100		801,615
JGC Corp.		14,000		321,266
JSR Corp.		11,000		205,395
JTEKT Corp.		20,000		292,803
JXTG Holdings, Inc.		237,600		1,792,564
Kajima Corp.		32,000		465,109
Kakaku.com, Inc.		10,700		209,360
Kamigumi Co., Ltd.		8,500		187,415
Kaneka Corp.		4,400		203,361
Kansai Electric Power Co., Inc. (The)		55,000		829,077
Kansai Paint Co., Ltd.		10,300		189,876
Kao Corp.		35,200		2,843,521
Kawasaki Heavy Industries, Ltd.		12,400		349,871
KDDI Corp.		127,000		3,510,140
Keihan Holdings Co., Ltd.		7,800		298,019
Keikyu Corp.		18,000		328,242
Keio Corp.		9,000		492,931
Keisei Electric Railway Co., Ltd.		10,000		352,210
Keyence Corp.		7,100		4,120,282
Kikkoman Corp.		12,000		714,326
Kintetsu Group Holdings Co., Ltd.		14,012		563,833
Kirin Holdings Co., Ltd.		60,300		1,545,608
Kobayashi Pharmaceutical Co., Ltd.		3,600		264,954
Kobe Steel, Ltd.		27,200		241,926
Koito Manufacturing Co., Ltd.		7,700		505,169
Komatsu, Ltd.		65,500		1,993,758
Konami Holdings Corp.		7,300		286,056
Konica Minolta, Inc.		37,000		393,601
Kose Corp.		2,300		438,366
Kubota Corp.		70,700		1,196,693
Kuraray Co., Ltd.		24,500		368,495
Kurita Water Industries, Ltd.		7,100		206,763
Kyocera Corp.		22,700		1,363,360
Kyowa Hakko Kirin Co., Ltd.		20,000		375,327
Kyushu Electric Power Co., Inc.		25,900		312,639
Kyushu Railway Co.		12,700		386,462
Lawson, Inc.		3,800		231,478
LINE Corp. (b) (e)		5,300		223,755
Lion Corp.		19,000		422,192
LIXIL Group Corp.		19,000		366,057
M3, Inc.		31,400		712,197
Makita Corp.		15,200		761,660
Marubeni Corp.		122,800		1,124,616
Marui Group Co., Ltd. (e)		16,000		395,047
Mazda Motor Corp.		43,000		516,500
McDonald’s Holdings Co. Japan, Ltd.		5,400		237,001
Mebuki Financial Group, Inc.		63,100		218,314
Medipal Holdings Corp.		10,700		223,395
MEIJI Holdings Co., Ltd.		9,600		644,932
Minebea Mitsumi, Inc.		30,800		558,795
MISUMI Group, Inc.		22,200		574,124
Mitsubishi Chemical Holdings Corp.		93,700		897,069
Mitsubishi Corp.		98,500		3,036,640

Security Description	Shares		Value
Japan—(Continued)
Mitsubishi Electric Corp.		131,200	$	1,797,803
Mitsubishi Estate Co., Ltd.		82,300		1,400,142
Mitsubishi Gas Chemical Co., Inc.		13,000		276,842
Mitsubishi Heavy Industries, Ltd.		20,800		803,517
Mitsubishi Materials Corp.		7,900		235,612
Mitsubishi Motors Corp.		44,999		317,817
Mitsubishi Tanabe Pharma Corp.		15,300		256,027
Mitsubishi UFJ Financial Group, Inc.		860,888		5,360,358
Mitsubishi UFJ Lease & Finance Co., Ltd.		41,500		244,418
Mitsui & Co., Ltd.		118,417		2,104,983
Mitsui Chemicals, Inc.		15,000		375,274
Mitsui Fudosan Co., Ltd.		65,000		1,539,141
Mitsui OSK Lines, Ltd.		7,500		218,878
Mizuho Financial Group, Inc.		1,752,400		3,056,649
MS&AD Insurance Group Holdings, Inc.		35,900		1,195,681
Murata Manufacturing Co., Ltd.		12,900		1,978,808
Nabtesco Corp.		7,500		199,471
Nagoya Railroad Co., Ltd.		14,800		366,650
NEC Corp.		20,600		569,462
Nexon Co., Ltd. (b)		32,300		422,428
NGK Insulators, Ltd.		19,300		318,494
NGK Spark Plug Co., Ltd.		12,000		349,786
NH Foods, Ltd.		7,000		258,522
Nidec Corp.		16,300		2,346,251
Nikon Corp.		22,500		422,900
Nintendo Co., Ltd.		8,100		2,957,350
Nippon Building Fund, Inc. (REIT)		88		509,023
Nippon Electric Glass Co., Ltd.		6,200		195,018
Nippon Express Co., Ltd.		5,900		386,983
Nippon Paint Holdings Co., Ltd.		9,500		354,718
Nippon Prologis REIT, Inc.		143		283,150
Nippon Steel & Sumitomo Metal Corp.		56,300		1,191,270
Nippon Telegraph & Telephone Corp.		50,400		2,277,408
Nippon Yusen KK		12,600		237,048
Nissan Chemical Corp.		10,000		528,382
Nissan Motor Co., Ltd.		166,900		1,562,870
Nisshin Seifun Group, Inc.		15,700		344,230
Nissin Foods Holdings Co., Ltd.		4,700		323,157
Nitori Holdings Co., Ltd.		5,800		832,052
Nitto Denko Corp.		12,600		944,932
Nomura Holdings, Inc.		241,200		1,145,498
Nomura Real Estate Holdings, Inc.		9,500		191,857
Nomura Real Estate Master Fund, Inc. (REIT)		322		440,651
Nomura Research Institute, Ltd.		6,900		348,352
NSK, Ltd.		26,600		305,010
NTT Data Corp.		40,780		564,873
NTT DoCoMo, Inc.		94,600		2,544,644
Obayashi Corp.		45,500		431,106
Obic Co., Ltd.		5,000		472,849
Odakyu Electric Railway Co., Ltd. (e)		20,100		475,744
OJI Holdings Corp.		68,000		493,885
Olympus Corp.		22,800		890,412
Omron Corp.		13,400		566,244
Ono Pharmaceutical Co., Ltd.		26,100		738,553
Oracle Corp. Japan		3,000		241,928
Oriental Land Co., Ltd.		14,000		1,464,497
ORIX Corp.		92,600		1,501,628

BHFTII-202

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Osaka Gas Co., Ltd.		29,000	$	565,838
Otsuka Corp.		7,400		276,286
Otsuka Holdings Co., Ltd.		28,200		1,422,101
Panasonic Corp.		161,300		1,879,909
Park24 Co., Ltd.		7,400		223,699
Persol Holdings Co., Ltd.		13,400		314,330
Pola Orbis Holdings, Inc.		7,600		277,662
Rakuten, Inc.		61,500		471,473
Recruit Holdings Co., Ltd.		80,900		2,699,071
Renesas Electronics Corp. (b)		61,100		382,009
Resona Holdings, Inc.		143,300		805,257
Ricoh Co., Ltd. (e)		48,600		522,094
Rinnai Corp.		2,800		213,139
Rohm Co., Ltd.		6,700		485,899
Ryohin Keikaku Co., Ltd.		1,800		534,954
Santen Pharmaceutical Co., Ltd.		27,500		436,120
SBI Holdings, Inc.		16,511		513,298
Secom Co., Ltd.		15,500		1,264,069
Sega Sammy Holdings, Inc.		12,900		190,275
Seibu Holdings, Inc.		13,800		248,258
Seiko Epson Corp.		20,000		341,309
Sekisui Chemical Co., Ltd.		29,500		544,492
Sekisui House, Ltd.		45,500		694,113
Seven & i Holdings Co., Ltd.		55,000		2,450,464
SG Holdings Co., Ltd.		7,200		188,738
Sharp Corp.		12,000		243,694
Shimadzu Corp.		14,600		457,306
Shimamura Co., Ltd.		1,700		161,222
Shimano, Inc.		5,400		870,594
Shimizu Corp.		39,000		356,126
Shin-Etsu Chemical Co., Ltd.		26,400		2,339,253
Shinsei Bank, Ltd.		12,900		210,891
Shionogi & Co., Ltd.		19,700		1,286,991
Shiseido Co., Ltd.		27,700		2,145,681
Shizuoka Bank, Ltd. (The)		25,800		231,673
Showa Denko KK		9,900		546,703
Showa Shell Sekiyu KK		14,800		313,704
SMC Corp.		4,100		1,312,940
SoftBank Group Corp.		60,500		6,111,515
Sohgo Security Services Co., Ltd.		4,800		210,994
Sompo Holdings, Inc.		23,599		1,005,339
Sony Corp.		91,800		5,631,613
Sony Financial Holdings, Inc.		12,800		282,226
Stanley Electric Co., Ltd.		9,700		331,755
Start Today Co., Ltd.		14,400		436,092
Subaru Corp.		45,400		1,391,210
SUMCO Corp.		17,600		254,705
Sumitomo Chemical Co., Ltd.		117,000		684,955
Sumitomo Corp.		83,900		1,399,317
Sumitomo Dainippon Pharma Co., Ltd. (e)		12,500		287,107
Sumitomo Electric Industries, Ltd.		57,634		904,434
Sumitomo Heavy Industries, Ltd.		7,800		278,447
Sumitomo Metal Mining Co., Ltd.		16,600		582,504
Sumitomo Mitsui Financial Group, Inc.		98,900		3,992,961
Sumitomo Mitsui Trust Holdings, Inc.		22,826		939,654
Sumitomo Realty & Development Co., Ltd.		26,000		933,892
Sumitomo Rubber Industries, Ltd.		12,500		187,675

Security Description	Shares		Value
Japan—(Continued)
Sundrug Co., Ltd.		6,000	$	214,065
Suntory Beverage & Food, Ltd.		10,400		439,663
Suzuken Co., Ltd.		5,800		275,223
Suzuki Motor Corp.		26,200		1,501,495
Sysmex Corp.		12,200		1,051,691
T&D Holdings, Inc.		39,400		650,352
Taiheiyo Cement Corp.		8,200		257,359
Taisei Corp.		16,000		729,789
Taisho Pharmaceutical Holdings Co., Ltd.		3,000		366,912
Takashimaya Co., Ltd.		9,500		160,511
Takeda Pharmaceutical Co., Ltd. (e)		50,800		2,175,829
TDK Corp.		9,500		1,036,708
Teijin, Ltd.		13,200		253,274
Terumo Corp.		20,900		1,238,634
THK Co., Ltd.		7,700		196,128
Tobu Railway Co., Ltd.		14,600		431,874
Toho Co., Ltd.		8,500		266,821
Toho Gas Co., Ltd.		6,200		235,983
Tohoku Electric Power Co., Inc.		28,000		380,108
Tokio Marine Holdings, Inc.		49,700		2,466,935
Tokyo Century Corp.		3,200		198,891
Tokyo Electric Power Co. Holdings, Inc. (b)		112,000		550,007
Tokyo Electron, Ltd.		11,300		1,551,518
Tokyo Gas Co., Ltd.		26,400		649,136
Tokyo Tatemono Co., Ltd.		14,500		176,925
Tokyu Corp.		37,500		686,024
Tokyu Fudosan Holdings Corp.		37,000		257,980
Toppan Printing Co., Ltd.		20,500		329,450
Toray Industries, Inc.		108,500		815,435
Toshiba Corp. (b)		47,500		1,373,343
Tosoh Corp.		23,000		354,341
TOTO, Ltd.		10,400		431,696
Toyo Seikan Group Holdings, Ltd.		8,300		172,262
Toyo Suisan Kaisha, Ltd.		6,000		232,708
Toyota Industries Corp.		10,100		597,667
Toyota Motor Corp.		166,300		10,320,728
Toyota Tsusho Corp.		15,500		585,381
Trend Micro, Inc.		8,900		572,902
Tsuruha Holdings, Inc.		2,900		357,176
Unicharm Corp.		27,400		905,294
United Urban Investment Corp. (REIT)		170		266,878
USS Co., Ltd.		16,600		308,272
West Japan Railway Co.		11,500		802,048
Yahoo Japan Corp. (e)		206,700		744,270
Yakult Honsha Co., Ltd.		8,200		672,020
Yamada Denki Co., Ltd. (e)		46,500		235,392
Yamaguchi Financial Group, Inc.		15,000		163,485
Yamaha Corp.		8,800		466,384
Yamaha Motor Co., Ltd.		18,700		524,530
Yamato Holdings Co., Ltd.		21,800		669,591
Yamazaki Baking Co., Ltd.		9,000		180,216
Yaskawa Electric Corp. (e)		18,000		534,119
Yokogawa Electric Corp.		16,300		344,942
Yokohama Rubber Co., Ltd. (The)		9,200		198,405
				258,233,438

BHFTII-203

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Jersey, Channel Islands—0.0%
Randgold Resources, Ltd.		6,551	$	464,866
Luxembourg—0.3%
ArcelorMittal		46,976		1,457,169
Eurofins Scientific SE		878		497,924
Millicom International Cellular S.A.		5,384		308,834
RTL Group S.A.		2,700		192,536
SES S.A.		29,140		639,428
Tenaris S.A.		35,513		595,967
				3,691,858
Macau—0.1%
Sands China, Ltd.		176,400		790,119
Wynn Macau, Ltd.		95,600		216,852
				1,006,971
Mexico—0.0%
Fresnillo plc		14,894		159,279
Netherlands—4.4%
ABN AMRO Group NV		29,995		816,859
Aegon NV		119,047		772,529
Akzo Nobel NV		18,312		1,712,801
ASML Holding NV		29,837		5,573,682
EXOR NV		8,104		543,341
Heineken Holding NV		7,836		709,823
Heineken NV		18,534		1,736,126
ING Groep NV		284,141		3,685,175
Koninklijke Ahold Delhaize NV		91,575		2,100,561
Koninklijke DSM NV		13,712		1,452,807
Koninklijke KPN NV		263,537		695,343
Koninklijke Philips NV		68,497		3,120,854
Koninklijke Vopak NV		3,942		194,208
NN Group NV		21,018		936,656
NXP Semiconductors NV		25,300		2,163,150
Randstad NV		9,402		502,015
Royal Dutch Shell plc - A Shares		334,642		11,493,347
Royal Dutch Shell plc - B Shares		271,764		9,515,276
Wolters Kluwer NV		21,135		1,317,602
				49,042,155
New Zealand—0.2%
a2 Milk Co., Ltd. (b)		53,251		397,151
Auckland International Airport, Ltd.		69,174		334,781
Fisher & Paykel Healthcare Corp., Ltd.		44,270		441,715
Fletcher Building, Ltd. (b)		68,594		295,246
Meridian Energy, Ltd.		93,292		203,179
Ryman Healthcare, Ltd.		29,900		277,469
Spark New Zealand, Ltd.		153,824		412,932
				2,362,473
Norway—0.7%
Aker BP ASA		7,864		333,532
DNB ASA		68,520		1,440,829
Equinor ASA		87,269		2,458,655

Security Description	Shares		Value
Norway—(Continued)
Gjensidige Forsikring ASA		14,357	$	241,859
Marine Harvest ASA		30,284		701,167
Norsk Hydro ASA		91,188		547,081
Orkla ASA		62,161		524,855
Schibsted ASA - B Shares		7,443		257,786
Telenor ASA		51,893		1,013,814
Yara International ASA		14,337		702,291
				8,221,869
Portugal—0.2%
Banco Espirito Santo S.A. (a) (b) (c) (d)		199,038		0
EDP - Energias de Portugal S.A.		185,244		684,474
Galp Energia SGPS S.A.		37,002		734,012
Jeronimo Martins SGPS S.A.		18,255		268,947
				1,687,433
Singapore—1.2%
Ascendas Real Estate Investment Trust (REIT)		215,000		414,871
CapitaLand Commercial Trust (REIT)		166,738		217,183
CapitaLand Mall Trust (REIT)		240,200		391,328
CapitaLand, Ltd.		172,300		424,350
City Developments, Ltd.		34,000		226,408
ComfortDelGro Corp., Ltd.		153,000		271,761
DBS Group Holdings, Ltd.		131,667		2,507,277
Genting Singapore, Ltd.		418,200		323,874
Jardine Cycle & Carriage, Ltd.		8,888		208,013
Keppel Corp., Ltd.		113,900		579,926
Oversea-Chinese Banking Corp., Ltd.		230,564		1,928,992
SATS, Ltd.		56,300		215,008
Singapore Airlines, Ltd.		33,140		236,176
Singapore Exchange, Ltd.		54,400		293,310
Singapore Press Holdings, Ltd.		153,050		321,383
Singapore Technologies Engineering, Ltd.		130,000		338,577
Singapore Telecommunications, Ltd.		601,420		1,424,635
Suntec Real Estate Investment Trust (REIT)		179,000		252,758
United Overseas Bank, Ltd.		96,892		1,915,696
UOL Group, Ltd.		33,000		166,308
Venture Corp., Ltd.		20,500		264,316
Wilmar International, Ltd.		144,000		338,872
				13,261,022
South Africa—0.2%
Anglo American plc		76,685		1,718,564
Investec plc		52,596		369,254
Mediclinic International plc		30,600		170,991
				2,258,809
Spain—2.8%
ACS Actividades de Construccion y Servicios S.A.		19,619		831,681
Aena SME S.A.		5,006		866,225
Amadeus IT Group S.A.		31,507		2,924,835
Banco Bilbao Vizcaya Argentaria S.A.		485,964		3,073,747
Banco de Sabadell S.A.		385,331		598,194
Banco Santander S.A.		1,171,928		5,859,536
Bankia S.A.		80,824		314,872

BHFTII-204

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Spain—(Continued)
Bankinter S.A.		48,939	$	450,833
CaixaBank S.A.		268,510		1,219,995
Enagas S.A.		17,953		484,799
Endesa S.A.		23,384		505,086
Ferrovial S.A.		33,405		691,015
Grifols S.A.		21,632		608,866
Iberdrola S.A.		433,857		3,179,722
Industria de Diseno Textil S.A.		79,108		2,392,981
Mapfre S.A.		74,474		232,447
Naturgy Energy Group S.A.		25,426		694,277
Red Electrica Corp. S.A.		29,508		616,937
Repsol S.A.		99,138		1,976,384
Siemens Gamesa Renewable Energy S.A. (b)		18,682		235,906
Telefonica S.A.		338,883		2,671,782
				30,430,120
Sweden—2.6%
Alfa Laval AB		20,852		564,290
Assa Abloy AB - Class B		72,914		1,464,686
Atlas Copco AB - A Shares		49,888		1,435,234
Atlas Copco AB - B Shares		28,433		757,337
Boliden AB		20,002		556,451
Electrolux AB - Series B		17,118		376,299
Epiroc AB - Class A (b)		49,888		556,990
Epiroc AB - Class B (b)		28,433		292,428
Essity AB - Class B		43,954		1,103,199
Hennes & Mauritz AB - B Shares (e)		68,549		1,264,558
Hexagon AB - B Shares		19,206		1,123,895
Husqvarna AB - B Shares		25,677		218,209
ICA Gruppen AB (e)		5,619		178,205
Industrivarden AB - C Shares		10,214		226,601
Investor AB - B Shares		31,910		1,472,340
Kinnevik AB - Class B		16,046		484,265
L E Lundbergforetagen AB - B Shares		6,090		204,999
Lundin Petroleum AB		16,017		610,967
Nordea Bank AB		226,093		2,460,116
Sandvik AB		84,986		1,507,374
Securitas AB - B Shares		21,462		373,181
Skandinaviska Enskilda Banken AB - Class A		113,560		1,265,971
Skanska AB - B Shares		24,008		470,818
SKF AB - B Shares		25,976		511,571
Svenska Handelsbanken AB - A Shares		113,277		1,428,353
Swedbank AB - A Shares		62,818		1,554,689
Swedish Match AB		14,499		741,341
Tele2 AB - B Shares		23,661		284,118
Telefonaktiebolaget LM Ericsson - B Shares		220,757		1,953,374
Telia Co. AB		204,113		936,261
Volvo AB - B Shares		113,997		2,011,929
				28,390,049
Switzerland—8.4%
ABB, Ltd.		136,042		3,234,269
Adecco Group AG		10,992		579,279
Baloise Holding AG		3,839		587,704
Barry Callebaut AG		132		251,055
Chocoladefabriken Lindt & Spruengli AG		7		576,693

Security Description	Shares		Value
Switzerland—(Continued)
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		81	$	570,289
Cie Financiere Richemont S.A.		37,512		3,068,340
Clariant AG (b)		17,152		447,977
Coca-Cola HBC AG (b)		13,800		469,740
Credit Suisse Group AG (b)		186,061		2,805,390
Dufry AG (b) (e)		2,729		308,764
EMS-Chemie Holding AG		579		346,363
Ferguson plc		17,515		1,486,542
Geberit AG		2,723		1,267,787
Givaudan S.A.		649		1,601,810
Glencore plc (b)		840,024		3,622,900
Julius Baer Group, Ltd. (b)		17,027		855,015
Kuehne & Nagel International AG		4,135		657,625
LafargeHolcim, Ltd. (b)		35,343		1,751,047
Lonza Group AG (b)		5,308		1,818,579
Nestle S.A.		225,785		18,897,841
Novartis AG		157,830		13,662,424
Pargesa Holding S.A.		3,025		243,920
Partners Group Holding AG		1,182		941,291
Roche Holding AG		50,970		12,391,768
Schindler Holding AG		1,428		345,872
Schindler Holding AG (Participation Certificate)		3,216		804,502
SGS S.A.		367		969,986
Sika AG		9,000		1,314,920
Sonova Holding AG		4,058		811,196
STMicroelectronics NV		49,712		904,697
Straumann Holding AG		747		564,143
Swatch Group AG (The)		4,374		342,154
Swatch Group AG (The) - Bearer Shares		2,245		895,933
Swiss Life Holding AG (b)		2,458		935,079
Swiss Prime Site AG (b)		5,000		428,039
Swiss Re AG		22,839		2,116,182
Swisscom AG		1,853		844,890
Temenos AG (b)		4,384		713,365
UBS Group AG (b)		280,535		4,445,159
Vifor Pharma AG (e)		3,820		665,359
Zurich Insurance Group AG		10,792		3,423,820
				92,969,708
United Arab Emirates—0.0%
NMC Health plc		7,569		334,825
United Kingdom—14.0%
3i Group plc		70,865		868,875
Admiral Group plc		16,009		433,875
Ashtead Group plc		37,846		1,201,749
Associated British Foods plc		27,546		822,397
AstraZeneca plc		91,643		7,143,128
Auto Trader Group plc		75,401		439,116
Aviva plc		288,445		1,838,595
Babcock International Group plc		22,688		213,893
BAE Systems plc		231,979		1,903,649
Barclays plc		1,244,471		2,783,714
Barratt Developments plc		69,622		514,452
Berkeley Group Holdings plc		10,289		493,311

BHFTII-205

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
BP plc		1,449,949	$	11,130,035
British American Tobacco plc		166,044		7,755,830
British Land Co. plc (The) (REIT)		73,348		589,541
BT Group plc		630,635		1,851,045
Bunzl plc		27,344		859,919
Burberry Group plc		32,742		860,270
Centrica plc		412,821		833,133
CNH Industrial NV		78,026		936,196
Coca-Cola European Partners plc		16,100		732,067
Compass Group plc		116,519		2,592,071
ConvaTec Group plc		91,978		278,502
Croda International plc		9,266		627,757
DCC plc		7,008		635,780
Diageo plc		178,216		6,314,550
Direct Line Insurance Group plc		89,919		379,422
easyJet plc		10,815		185,072
Experian plc		65,580		1,685,104
Fiat Chrysler Automobiles NV (b)		78,476		1,376,674
G4S plc		108,086		340,649
GlaxoSmithKline plc		360,925		7,234,706
GVC Holdings plc		39,400		471,891
Hammerson plc (REIT)		54,049		321,657
Hargreaves Lansdown plc		20,716		603,109
HSBC Holdings plc		1,456,681		12,722,232
Imperial Brands plc		70,611		2,456,974
Informa plc		91,052		904,128
InterContinental Hotels Group plc		12,234		761,883
International Consolidated Airlines Group S.A. - Class DI		49,850		426,798
Intertek Group plc		11,453		745,026
J Sainsbury plc		120,106		503,579
John Wood Group plc		51,100		514,157
Johnson Matthey plc		15,590		723,235
Kingfisher plc		151,460		509,257
Land Securities Group plc (REIT)		54,641		628,925
Legal & General Group plc		421,904		1,440,829
Lloyds Banking Group plc		5,220,354		4,030,488
London Stock Exchange Group plc		22,230		1,328,704
Marks & Spencer Group plc		137,472		517,178
Meggitt plc		55,862		412,317
Melrose Industries plc		351,107		913,871
Merlin Entertainments plc		52,353		273,115
Micro Focus International plc		33,650		623,831
Mondi plc		27,093		742,190
National Grid plc		249,620		2,575,210
Next plc		11,803		844,974
Pearson plc		63,486		735,443
Persimmon plc		22,805		702,677
Prudential plc		186,011		4,267,562
Reckitt Benckiser Group plc		48,931		4,472,284
RELX plc		78,454		1,651,558
RELX plc (b)		71,198		1,496,392
Rio Tinto plc		87,914		4,437,658
Rolls-Royce Holdings plc (b)		116,835		1,502,688
Royal Bank of Scotland Group plc		355,393		1,149,528
Royal Mail plc		67,965		422,412
RSA Insurance Group plc		74,322		556,773
Sage Group plc (The)		77,930		595,341

Security Description	Shares		Value
United Kingdom—(Continued)
Schroders plc		7,697	$	310,247
Segro plc (REIT)		74,212		616,873
Severn Trent plc		20,415		491,888
Sky plc		75,085		1,692,850
Smith & Nephew plc		62,049		1,131,354
Smiths Group plc		31,976		623,553
SSE plc		72,948		1,089,585
St. James’s Place plc		38,927		579,907
Standard Chartered plc		203,987		1,690,177
Standard Life Aberdeen plc		186,397		742,540
Taylor Wimpey plc		240,026		536,705
Tesco plc		690,838		2,159,067
Travis Perkins plc		20,832		289,034
Unilever NV		112,339		6,257,916
Unilever plc		89,367		4,910,572
United Utilities Group plc		57,234		525,085
Vodafone Group plc		1,935,083		4,150,823
Weir Group plc (The)		17,104		393,196
Whitbread plc		14,502		891,527
WM Morrison Supermarkets plc		166,578		563,211
WPP plc		93,040		1,360,780
				154,847,841
United States—0.5%
Carnival plc		13,029		809,654
QIAGEN NV (b)		15,166		574,238
Shire plc		65,970		3,982,110
				5,366,002
Total Common Stocks (Cost $866,087,859)				1,044,807,600
Mutual Fund—3.3%
United States—3.3%
iShares MSCI EAFE ETF (e) (f) (Cost $36,373,053)		534,000		36,306,660
Preferred Stocks—0.5%
Germany—0.5%
Bayerische Motoren Werke (BMW) AG		3,581		281,181
FUCHS Petrolub SE		4,900		273,785
Henkel AG & Co. KGaA		12,893		1,514,102
Porsche Automobil Holding SE		11,105		747,987
Sartorius AG		2,589		420,358
Schaeffler AG		13,141		167,601
Volkswagen AG		13,371		2,348,124
Total Preferred Stocks (Cost $4,461,535)				5,753,138

BHFTII-206

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investments—1.3%

Security Description	Principal Amount*		Value
Discount Notes—0.6%
Federal Home Loan Bank 1.804%, 10/12/18 (g)		125,000	$	124,919
1.936%, 10/24/18 (g)		500,000		499,326
2.021%, 11/09/18 (g)		2,350,000		2,344,527
2.042%, 11/14/18 (g)		925,000		922,569
2.053%, 11/07/18 (g)		2,600,000		2,594,254
2.159%, 12/12/18 (g)		400,000		398,256
				6,883,851
U.S. Treasury—0.7%
U.S. Treasury Bills 2.060%, 11/15/18 (g)		1,675,000		1,670,637
2.102%, 12/06/18 (g)		1,925,000		1,917,492
2.106%, 12/13/18 (g)		2,600,000		2,588,810
2.133%, 12/20/18 (g)		1,400,000		1,393,381
				7,570,320
Total Short-Term Investments (Cost $14,455,123)				14,454,171
Securities Lending Reinvestments (h)—1.2%
Bank Note—0.2%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (i)		2,000,000		2,000,000
Certificate of Deposit—0.1%
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		500,000		500,001
Commercial Paper—0.2%
Bank of China, Ltd. 2.550%, 12/20/18		993,625		994,247
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (i)		1,500,000		1,500,766
				2,495,013
Repurchase Agreements—0.6%
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $300,056; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $306,000.		300,000		300,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $200,037; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $204,000.		200,000		200,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $300,056; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $306,000.		300,000	$	300,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $203,769; collateralized by various Common Stock with an aggregate market value of $222,665.		200,000		200,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $200,793; collateralized by various Common Stock with an aggregate market value of $222,249.		200,000		200,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,843,563; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,878,656.		1,843,225		1,843,225
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $2,000,961; collateralized by various Common Stock with an aggregate market value of $2,200,429.		2,000,000		2,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $407,930; collateralized by various Common Stock with an aggregate market value of $445,062.		400,000		400,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $303,881; collateralized by various Common Stock with an aggregate market value of $333,797.		300,000		300,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $303,985; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000		300,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $303,831; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000		300,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $303,735; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000		300,000

BHFTII-207

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $303,600; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000	$	300,000
				6,943,225
Time Deposits—0.1%
Cooperative Rabobank UA New York 2.150%, 10/01/18		400,000		400,000
DZ Bank AG 2.150%, 10/01/18		300,000		300,000
Nordea Bank New York 2.140%, 10/01/18		300,000		300,000
Svenska Handelsbanken AB 2.140%, 10/01/18		300,000		300,000
				1,300,000
Total Securities Lending Reinvestments (Cost $13,237,558)				13,238,239
Total Investments—100.6% (Cost $934,615,128)				1,114,559,808
Other assets and liabilities (net)—(0.6)%				(7,116,993	)
Net Assets—100.0%			$	1,107,442,815

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent less than 0.05% of net assets.
(b)	Non-income producing security.
(c)	Illiquid security. As of September 30, 2018, these securities represent 0.0% of net assets.
(d)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $12,694,102 and the collateral received consisted of cash in the amount of $13,236,850. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(f)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2018, the market value of securities pledged was $2,719,600.
(g)	The rate shown represents current yield to maturity.
(h)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(i)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Ten Largest Industries as of September 30, 2018 (Unaudited)	% of Net Assets
Banks		10.3
Pharmaceuticals		7.2
Oil, Gas & Consumable Fuels		5.7
Insurance		5.2
Chemicals		3.8
Automobiles		3.2
Food Products		2.9
Metals & Mining		2.9
Machinery		2.6
Capital Markets		2.3

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount		Value/ Unrealized Appreciation
MSCI EAFE Index Mini Futures		12/21/18		140	USD	13,828,500	$	101,209

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

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

BHFTII-208

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	73,861,149		$	0	$	73,861,149
Austria		—		2,444,376			—		2,444,376
Belgium		—		10,690,321			—		10,690,321
Chile		—		299,851			—		299,851
China		—		1,442,039			—		1,442,039
Denmark		—		17,712,943			—		17,712,943
Finland		—		11,127,780			—		11,127,780
France		—		114,119,327			—		114,119,327
Germany		—		93,018,129			—		93,018,129
Hong Kong		418,770		33,927,696			—		34,346,466
Ireland		586,704		5,912,245			—		6,498,949
Israel		2,609,735		3,169,935			—		5,779,670
Italy		—		20,737,882			—		20,737,882
Japan		—		258,233,438			—		258,233,438
Jersey, Channel Islands		—		464,866			—		464,866
Luxembourg		—		3,691,858			—		3,691,858
Macau		—		1,006,971			—		1,006,971
Mexico		—		159,279			—		159,279
Netherlands		2,163,150		46,879,005			—		49,042,155
New Zealand		—		2,362,473			—		2,362,473
Norway		—		8,221,869			—		8,221,869
Portugal		—		1,687,433			0		1,687,433
Singapore		—		13,261,022			—		13,261,022
South Africa		—		2,258,809			—		2,258,809
Spain		—		30,430,120			—		30,430,120
Sweden		—		28,390,049			—		28,390,049
Switzerland		—		92,969,708			—		92,969,708
United Arab Emirates		—		334,825			—		334,825
United Kingdom		2,228,459		152,619,382			—		154,847,841
United States		—		5,366,002			—		5,366,002
Total Common Stocks		8,006,818		1,036,800,782			0		1,044,807,600
Total Mutual Fund*		36,306,660		—			—		36,306,660
Total Preferred Stocks*		—		5,753,138			—		5,753,138
Total Short-Term Investments*		—		14,454,171			—		14,454,171
Total Securities Lending Reinvestments*		—		13,238,239			—		13,238,239
Total Investments	$	44,313,478	$	1,070,246,330		$	0	$	1,114,559,808
Collateral for Securities Loaned (Liability)	$	—	$	(13,236,850	)	$	—	$	(13,236,850	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	101,209	$	—		$	—	$	101,209

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2018 is not presented.

Transfers from Level 1 to Level 2 in the amount of $1,751,717 were due to the application of a systematic fair valuation model factor.

BHFTII-209

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—98.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.4%
AAR Corp.		13,862	$	663,851
Aerojet Rocketdyne Holdings, Inc. (a) (b)		29,728		1,010,455
Aerovironment, Inc. (a) (b)		8,967		1,005,828
Astronics Corp. (a)		10,382		451,617
Axon Enterprise, Inc. (a)		25,220		1,725,804
Cubic Corp.		10,857		793,104
Ducommun, Inc. (a)		5,959		243,365
Engility Holdings, Inc. (a)		8,737		314,445
Esterline Technologies Corp. (a) (b)		10,995		999,995
KEYW Holding Corp. (The) (a)		23,342		202,142
KLX, Inc. (a)		21,169		1,328,990
Kratos Defense & Security Solutions, Inc. (a) (b)		39,769		587,786
Maxar Technologies, Ltd.		25,232		834,422
Mercury Systems, Inc. (a)		21,590		1,194,359
Moog, Inc. - Class A		14,345		1,233,240
National Presto Industries, Inc. (b)		2,572		333,460
Triumph Group, Inc. (b)		24,082		561,111
Vectrus, Inc. (a)		5,647		176,130
Wesco Aircraft Holdings, Inc. (a)		26,069		293,276
				13,953,380
Air Freight & Logistics—0.3%
Air Transport Services Group, Inc. (a)		27,538		591,241
Atlas Air Worldwide Holdings, Inc. (a)		10,224		651,780
Echo Global Logistics, Inc. (a) (b)		13,053		403,990
Forward Air Corp.		12,974		930,236
HUB Group, Inc. - Class A (a)		15,117		689,335
				3,266,582
Airlines—0.4%
Allegiant Travel Co.		5,919		750,529
Hawaiian Holdings, Inc.		22,400		898,240
SkyWest, Inc.		22,461		1,322,953
Spirit Airlines, Inc. (a) (b)		29,078		1,365,794
				4,337,516
Auto Components—1.0%
American Axle & Manufacturing Holdings, Inc. (a) (b)		51,196		892,858
Cooper Tire & Rubber Co. (b)		20,979		593,706
Cooper-Standard Holdings, Inc. (a)		7,342		880,893
Dana, Inc.		65,547		1,223,762
Dorman Products, Inc. (a) (b)		11,341		872,350
Fox Factory Holding Corp. (a) (b)		16,609		1,163,460
Gentherm, Inc. (a)		17,276		785,194
LCI Industries		10,785		892,998
Modine Manufacturing Co. (a)		23,187		345,486
Motorcar Parts of America, Inc. (a) (b)		8,000		187,600
Standard Motor Products, Inc.		9,638		474,382
Stoneridge, Inc. (a)		13,705		407,313
Superior Industries International, Inc.		12,615		215,086
Tenneco, Inc.		22,605		952,575
Tower International, Inc.		10,455		316,264
				10,203,927

Security Description	Shares		Value
Automobiles—0.0%
Winnebago Industries, Inc.		14,967	$	496,156
Banks—9.2%
1st Source Corp.		7,645		402,280
Access National Corp.		7,093		192,291
ACNB Corp.		3,451		128,377
Allegiance Bancshares, Inc. (a)		5,825		242,903
American National Bankshares, Inc.		4,311		168,129
Ameris Bancorp		18,334		837,864
Arrow Financial Corp. (b)		6,358		235,253
Atlantic Capital Bancshares, Inc. (a)		10,440		174,870
Banc of California, Inc.		18,620		351,918
BancFirst Corp.		8,433		505,558
Bancorp, Inc. (The) (a)		25,747		246,914
BancorpSouth Bank (b)		40,565		1,326,476
Bank of Marin Bancorp		3,199		268,396
Bank of NT Butterfield & Son, Ltd. (The)		23,242		1,205,330
Banner Corp.		14,787		919,308
Bar Harbor Bankshares		7,342		210,862
Baycom Corp. (a)		5,323		142,018
Berkshire Hills Bancorp, Inc. (b)		18,786		764,590
Blue Hills Bancorp, Inc.		13,063		314,818
Boston Private Financial Holdings, Inc.		40,232		549,167
Bridge Bancorp, Inc.		8,870		294,484
Brookline Bancorp, Inc.		36,642		611,921
Bryn Mawr Bank Corp.		9,382		440,016
Business First Bancshares, Inc.		5,338		141,724
Byline Bancorp, Inc. (a)		8,170		185,459
Cadence BanCorp		32,156		839,915
Cambridge Bancorp		1,469		132,195
Camden National Corp.		7,839		340,526
Capital City Bank Group, Inc.		5,769		134,648
Carolina Financial Corp.		8,963		338,084
Cathay General Bancorp (b)		34,405		1,425,743
CBTX, Inc.		8,948		318,012
CenterState Bank Corp.		38,953		1,092,632
Central Pacific Financial Corp.		15,142		400,203
Chemical Financial Corp.		30,603		1,634,200
Citizens & Northern Corp.		6,716		175,623
City Holding Co. (b)		7,242		556,186
Civista Bancshares, Inc.		6,893		166,052
CNB Financial Corp. (b)		6,782		195,729
Codorus Valley Bancorp, Inc.		4,514		141,017
Columbia Banking System, Inc.		32,810		1,272,044
Community Bank System, Inc. (b)		22,304		1,362,105
Community Trust Bancorp, Inc.		7,150		331,403
ConnectOne Bancorp, Inc.		13,860		329,175
Customers Bancorp, Inc. (a)		13,560		319,067
CVB Financial Corp. (b)		49,490		1,104,617
Eagle Bancorp, Inc. (a)		15,010		759,506
Enterprise Bancorp, Inc.		4,064		139,761
Enterprise Financial Services Corp.		10,782		571,985
Equity Bancshares, Inc. - Class A (a)		5,404		212,161
Farmers & Merchants Bancorp, Inc.		4,006		170,616
Farmers National Banc Corp.		13,414		205,234
FB Financial Corp.		6,411		251,183
FCB Financial Holdings, Inc. - Class A (a)		19,470		922,878

BHFTII-210

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Banks—(Continued)
Fidelity Southern Corp.		10,827	$	268,293
Financial Institutions, Inc.		6,461		202,875
First BanCorp (a)		86,676		788,752
First Bancorp		12,826		519,581
First Bancorp, Inc.		5,308		153,773
First Bancshares, Inc. (The)		6,100		238,205
First Busey Corp.		20,300		630,315
First Commonwealth Financial Corp.		45,936		741,407
First Community Bancshares, Inc.		8,470		286,964
First Connecticut Bancorp, Inc.		7,629		225,437
First Financial Bancorp		41,209		1,223,907
First Financial Bankshares, Inc. (b)		27,909		1,649,422
First Financial Corp.		5,203		261,191
First Foundation, Inc. (a)		17,720		276,786
First Internet Bancorp		4,019		122,379
First Interstate BancSystem, Inc. - Class A		15,279		684,499
First Merchants Corp.		22,695		1,021,048
First Mid-Illinois Bancshares, Inc.		5,809		234,277
First Midwest Bancorp, Inc.		43,816		1,165,067
First of Long Island Corp. (The)		9,924		215,847
Flushing Financial Corp.		13,422		327,497
Franklin Financial Network, Inc. (a) (b)		4,922		192,450
Fulton Financial Corp.		76,291		1,270,245
German American Bancorp, Inc.		10,138		357,669
Glacier Bancorp, Inc. (b)		36,365		1,566,968
Great Southern Bancorp, Inc.		4,991		276,252
Great Western Bancorp, Inc. (b)		26,273		1,108,458
Green Bancorp, Inc.		11,285		249,399
Guaranty Bancorp		11,425		339,323
Guaranty Bancshares, Inc.		3,924		118,623
Hancock Holding Co.		36,710		1,745,560
Hanmi Financial Corp.		15,681		390,457
HarborOne Bancorp, Inc. (a)		7,489		143,190
Heartland Financial USA, Inc. (b)		13,588		788,783
Heritage Commerce Corp.		17,854		266,382
Heritage Financial Corp. (b)		15,777		554,562
Hilltop Holdings, Inc.		34,409		694,030
Home BancShares, Inc. (b)		68,087		1,491,105
HomeTrust Bancshares, Inc. (a)		8,531		248,679
Hope Bancorp, Inc.		53,525		865,499
Horizon Bancorp		17,556		346,731
Iberiabank Corp.		24,314		1,977,944
Independent Bank Corp.		11,863		280,560
Independent Bank Corp./Rockland Trust		11,523		951,800
Independent Bank Group, Inc.		9,806		650,138
International Bancshares Corp.		23,225		1,045,125
Investors Bancorp, Inc.		113,703		1,395,136
Lakeland Bancorp, Inc.		19,901		359,213
Lakeland Financial Corp.		11,384		529,128
LegacyTexas Financial Group, Inc.		21,060		897,156
Live Oak Bancshares, Inc. (b)		10,534		282,311
Macatawa Bank Corp.		14,416		168,811
MB Financial, Inc.		35,622		1,642,530
Mercantile Bank Corp.		8,647		288,550
Metropolitan Bank Holding Corp. (a)		3,277		134,750
Midland States Bancorp, Inc. (b)		10,034		322,091
MidWestOne Financial Group, Inc.		5,585		186,036

Security Description	Shares		Value
Banks—(Continued)
National Bank Holdings Corp. - Class A		12,889	$	485,271
National Bankshares, Inc.		3,487		158,484
National Commerce Corp. (a)		7,109		293,602
NBT Bancorp, Inc. (b)		20,117		772,090
Nicolet Bankshares, Inc. (a)		4,410		240,389
Northrim BanCorp, Inc.		3,529		146,630
OFG Bancorp		19,884		321,127
Old Line Bancshares, Inc.		7,597		240,369
Old National Bancorp		69,241		1,336,351
Old Second Bancorp, Inc.		14,296		220,873
Opus Bank (b)		8,631		236,489
Origin Bancorp, Inc. (b)		6,937		261,178
Pacific Premier Bancorp, Inc. (a)		21,020		781,944
Park National Corp.		5,741		606,020
Peapack Gladstone Financial Corp.		8,311		256,727
People’s Utah Bancorp		7,011		238,023
Peoples Bancorp, Inc.		8,443		295,758
Peoples Financial Services Corp.		3,673		155,735
Preferred Bank (b)		6,573		384,521
QCR Holdings, Inc.		5,811		237,379
RBB Bancorp		6,720		164,640
Reliant Bancorp, Inc.		5,179		132,427
Renasant Corp.		22,158		913,131
Republic Bancorp, Inc. - Class A		5,421		249,908
Republic First Bancorp, Inc. (a)		22,031		157,522
S&T Bancorp, Inc. (b)		15,660		679,018
Sandy Spring Bancorp, Inc.		16,080		632,105
Seacoast Banking Corp. of Florida (a) (b)		21,315		622,398
ServisFirst Bancshares, Inc. (b)		20,928		819,331
Sierra Bancorp		5,841		168,805
Simmons First National Corp. - Class A		41,478		1,221,527
SmartFinancial, Inc. (a)		5,821		137,085
South State Corp.		16,714		1,370,548
Southern First Bancshares, Inc. (a)		3,419		134,367
Southern National Bancorp of Virginia, Inc.		10,799		174,944
Southside Bancshares, Inc. (b)		15,530		540,444
State Bank Financial Corp.		16,379		494,318
Stock Yards Bancorp, Inc.		10,633		385,978
Summit Financial Group, Inc.		5,705		132,413
Tompkins Financial Corp.		6,912		561,185
Towne Bank		30,317		935,279
TriCo Bancshares		11,734		453,167
TriState Capital Holdings, Inc. (a)		11,422		315,247
Triumph Bancorp, Inc. (a) (b)		11,267		430,399
Trustmark Corp. (b)		31,188		1,049,476
UMB Financial Corp. (b)		20,613		1,461,462
Union Bankshares Corp. (b)		30,030		1,157,056
United Bankshares, Inc. (b)		43,338		1,575,336
United Community Banks, Inc.		34,521		962,791
Univest Corp. of Pennsylvania		12,133		320,918
Valley National Bancorp (b)		147,264		1,656,720
Veritex Holdings, Inc. (a)		11,061		312,584
Washington Trust Bancorp, Inc.		7,713		426,529
WesBanco, Inc.		23,770		1,059,667
West Bancorp, Inc.		8,036		188,846
Westamerica Bancorp (b)		11,738		706,158
				92,439,281

BHFTII-211

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Beverages—0.3%
Boston Beer Co., Inc. (The) - Class A (a)		3,688	$	1,060,300
Coca-Cola Bottling Co. Consolidated		2,376		433,097
MGP Ingredients, Inc. (b)		6,119		483,279
National Beverage Corp. (a) (b)		4,782		557,677
Primo Water Corp. (a)		15,449		278,854
				2,813,207
Biotechnology—6.5%
Abeona Therapeutics, Inc. (a) (b)		12,572		160,922
ACADIA Pharmaceuticals, Inc. (a) (b)		45,819		951,202
Acceleron Pharma, Inc. (a) (b)		17,406		996,145
Achillion Pharmaceuticals, Inc. (a)		65,605		241,426
Acorda Therapeutics, Inc. (a) (b)		20,455		401,941
Adamas Pharmaceuticals, Inc. (a) (b)		10,769		215,595
Aduro Biotech, Inc. (a)		31,799		233,723
Adverum Biotechnologies, Inc. (a) (b)		28,341		171,463
Aimmune Therapeutics, Inc. (a) (b)		20,346		555,039
Akebia Therapeutics, Inc. (a)		21,429		189,218
Albireo Pharma, Inc. (a)		4,713		155,340
Alder Biopharmaceuticals, Inc. (a)		25,046		417,016
Allakos, Inc. (a)		6,159		277,093
AMAG Pharmaceuticals, Inc. (a)		16,034		320,680
Amicus Therapeutics, Inc. (a) (b)		85,724		1,036,403
AnaptysBio, Inc. (a)		8,239		822,005
Apellis Pharmaceuticals, Inc. (a) (b)		17,298		307,558
Aptinyx, Inc. (a)		9,990		289,310
Arbutus Biopharma Corp. (a)		18,578		175,562
Arena Pharmaceuticals, Inc. (a) (b)		22,490		1,034,990
Arqule, Inc. (a)		43,816		247,999
Array BioPharma, Inc. (a) (b)		91,194		1,386,149
Arrowhead Pharmaceuticals, Inc. (a) (b)		40,960		785,203
Atara Biotherapeutics, Inc. (a)		18,837		778,910
Athenex, Inc. (a) (b)		20,171		313,457
Audentes Therapeutics, Inc. (a)		14,989		593,415
AVEO Pharmaceuticals, Inc. (a) (b)		53,104		175,774
Avid Bioservices, Inc. (a)		26,181		179,602
Avrobio, Inc. (a)		5,050		261,944
BioCryst Pharmaceuticals, Inc. (a)		50,588		385,986
Biohaven Pharmaceutical Holding Co., Ltd. (a)		12,167		456,871
BioSpecifics Technologies Corp. (a)		3,035		177,517
Blueprint Medicines Corp. (a) (b)		17,806		1,389,936
CareDx, Inc. (a)		16,080		463,908
CASI Pharmaceuticals, Inc. (a)		26,316		122,896
Catalyst Pharmaceuticals, Inc. (a)		49,243		186,139
ChemoCentryx, Inc. (a)		12,392		156,635
Clovis Oncology, Inc. (a) (b)		21,967		645,171
Coherus Biosciences, Inc. (a)		22,472		370,788
Concert Pharmaceuticals, Inc. (a)		8,973		133,159
Corbus Pharmaceuticals Holdings, Inc. (a) (b)		23,089		174,322
Cytokinetics, Inc. (a)		18,716		184,353
CytomX Therapeutics, Inc. (a)		18,290		338,365
Deciphera Pharmaceuticals, Inc. (a)		3,916		151,628
Denali Therapeutics, Inc. (a) (b)		20,915		454,692
Dicerna Pharmaceuticals, Inc. (a)		21,711		331,310
Dynavax Technologies Corp. (a)		28,690		355,756
Eagle Pharmaceuticals, Inc. (a) (b)		4,988		345,818

Security Description	Shares		Value
Biotechnology—(Continued)
Editas Medicine, Inc. (a) (b)		21,164	$	673,438
Emergent BioSolutions, Inc. (a)		18,841		1,240,303
Enanta Pharmaceuticals, Inc. (a) (b)		7,598		649,325
Epizyme, Inc. (a)		25,075		265,795
Esperion Therapeutics, Inc. (a) (b)		10,901		483,677
Fate Therapeutics, Inc. (a)		23,078		375,941
FibroGen, Inc. (a)		32,242		1,958,701
Five Prime Therapeutics, Inc. (a) (b)		19,957		277,801
Flexion Therapeutics, Inc. (a) (b)		15,518		290,342
G1 Therapeutics, Inc. (a) (b)		9,655		504,860
Genomic Health, Inc. (a)		8,834		620,323
Geron Corp. (a) (b)		77,629		136,627
Global Blood Therapeutics, Inc. (a) (b)		23,097		877,686
GlycoMimetics, Inc. (a)		16,635		239,544
Halozyme Therapeutics, Inc. (a) (b)		55,733		1,012,669
Heron Therapeutics, Inc. (a)		29,366		929,434
ImmunoGen, Inc. (a)		59,746		565,795
Immunomedics, Inc. (a) (b)		60,415		1,258,444
Inovio Pharmaceuticals, Inc. (a)		36,297		201,811
Insmed, Inc. (a) (b)		33,233		671,971
Insys Therapeutics, Inc. (a) (b)		14,114		142,269
Intellia Therapeutics, Inc. (a) (b)		15,741		450,507
Intercept Pharmaceuticals, Inc. (a)		9,225		1,165,671
Intrexon Corp. (a) (b)		32,766		564,231
Invitae Corp. (a)		31,538		527,631
Iovance Biotherapeutics, Inc. (a) (b)		38,763		436,084
Ironwood Pharmaceuticals, Inc. (a)		63,682		1,175,570
Kadmon Holdings, Inc. (a)		50,200		167,668
Karyopharm Therapeutics, Inc. (a)		23,047		392,490
Keryx Biopharmaceuticals, Inc. (a) (b)		5,191		17,649
Kindred Biosciences, Inc. (a)		13,711		191,268
Kura Oncology, Inc. (a)		13,652		238,910
La Jolla Pharmaceutical Co. (a) (b)		12,259		246,774
Lexicon Pharmaceuticals, Inc. (a) (b)		23,843		254,405
Ligand Pharmaceuticals, Inc. (a) (b)		9,331		2,561,266
Loxo Oncology, Inc. (a)		12,113		2,069,264
MacroGenics, Inc. (a)		18,661		400,092
Madrigal Pharmaceuticals, Inc. (a) (b)		3,123		668,728
MediciNova, Inc. (a) (b)		18,638		232,789
MiMedx Group, Inc. (a) (b)		48,233		298,080
Minerva Neurosciences, Inc. (a)		16,304		204,615
Mirati Therapeutics, Inc. (a)		8,594		404,777
Momenta Pharmaceuticals, Inc. (a)		35,673		938,200
Myriad Genetics, Inc. (a) (b)		29,763		1,369,098
Natera, Inc. (a)		13,813		330,683
Novavax, Inc. (a) (b)		181,370		340,976
Opko Health, Inc. (a) (b) (c)		124,642		431,261
PDL BioPharma, Inc. (a)		76,001		199,883
Pieris Pharmaceuticals, Inc. (a)		20,651		115,646
Portola Pharmaceuticals, Inc. (a) (b)		29,932		797,089
Progenics Pharmaceuticals, Inc. (a)		32,263		202,289
Prothena Corp. plc (a)		18,324		239,678
PTC Therapeutics, Inc. (a) (b)		21,050		989,350
Puma Biotechnology, Inc. (a)		13,791		632,317
Radius Health, Inc. (a)		17,562		312,604
REGENXBIO, Inc. (a)		14,093		1,064,022
Repligen Corp. (a) (b)		17,598		975,985

BHFTII-212

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Biotechnology—(Continued)
Retrophin, Inc. (a)		18,842	$	541,331
Rhythm Pharmaceuticals, Inc. (a)		6,192		180,621
Rigel Pharmaceuticals, Inc. (a)		68,148		218,755
Rocket Pharmaceuticals, Inc. (a) (b)		10,482		258,067
Rubius Therapeutics, Inc. (a)		10,781		258,744
Sangamo Therapeutics, Inc. (a) (b)		47,157		799,311
Savara, Inc. (a)		13,047		145,605
Selecta Biosciences, Inc. (a) (b)		9,260		143,993
Solid Biosciences, Inc. (a) (b)		5,744		271,002
Sorrento Therapeutics, Inc. (a) (b)		42,779		188,228
Spark Therapeutics, Inc. (a) (b)		14,454		788,466
Spectrum Pharmaceuticals, Inc. (a) (b)		45,835		770,028
Stemline Therapeutics, Inc. (a)		11,947		198,320
Synergy Pharmaceuticals, Inc. (a) (b)		121,416		206,407
Syros Pharmaceuticals, Inc. (a)		13,108		156,116
TG Therapeutics, Inc. (a) (b)		28,284		158,390
Ultragenyx Pharmaceutical, Inc. (a) (b)		20,227		1,544,129
Vanda Pharmaceuticals, Inc. (a)		24,336		558,511
Veracyte, Inc. (a)		14,557		139,019
Verastem, Inc. (a) (b)		26,692		193,517
Vericel Corp. (a)		18,632		263,643
Viking Therapeutics, Inc. (a) (b)		21,697		377,962
Voyager Therapeutics, Inc. (a)		10,649		201,479
Xencor, Inc. (a)		21,420		834,737
Zafgen, Inc. (a)		15,349		179,430
ZIOPHARM Oncology, Inc. (a) (b)		64,378		206,010
				65,266,461
Building Products—1.3%
AAON, Inc. (b)		19,095		721,791
Advanced Drainage Systems, Inc.		16,264		502,558
American Woodmark Corp. (a)		6,699		525,536
Apogee Enterprises, Inc. (b)		11,475		474,147
Armstrong Flooring, Inc. (a)		11,681		211,426
Builders FirstSource, Inc. (a)		50,475		740,973
Caesarstone, Ltd. (b)		11,687		216,794
Continental Building Products, Inc. (a)		17,313		650,103
CSW Industrials, Inc. (a)		7,377		396,145
Gibraltar Industries, Inc. (a)		14,856		677,434
Griffon Corp. (b)		14,438		233,174
Insteel Industries, Inc.		9,004		323,063
JELD-WEN Holding, Inc. (a)		31,537		777,702
Masonite International Corp. (a)		12,167		779,905
NCI Building Systems, Inc. (a)		19,586		296,728
Patrick Industries, Inc. (a) (b)		10,680		632,256
PGT Innovations, Inc. (a)		22,494		485,870
Quanex Building Products Corp.		17,697		322,085
Simpson Manufacturing Co., Inc. (b)		17,526		1,269,934
Trex Co., Inc. (a)		25,565		1,967,994
Universal Forest Products, Inc.		25,733		909,147
				13,114,765
Capital Markets—1.2%
Arlington Asset Investment Corp. - Class A (b)		10,056		93,923
Artisan Partners Asset Management, Inc. - Class A		21,101		683,672
B. Riley Financial, Inc. (b)		10,620		240,543

Security Description	Shares		Value
Capital Markets—(Continued)
Blucora, Inc. (a)		20,338	$	818,604
BrightSphere Investment Group plc		35,717		442,891
Cohen & Steers, Inc. (b)		9,693		393,633
Cowen Group, Inc. (a) (b)		13,196		215,095
Diamond Hill Investment Group, Inc.		1,546		255,693
Donnelley Financial Solutions, Inc. (a)		16,100		288,512
Federated Investors, Inc. - Class B (b)		44,522		1,073,871
Focus Financial Partners, Inc. - Class A (a)		10,643		505,117
Greenhill & Co., Inc.		10,011		263,790
Hamilton Lane, Inc. - Class A		6,064		268,514
Houlihan Lokey, Inc.		13,824		621,112
International FCStone, Inc. (a)		7,668		370,518
Investment Technology Group, Inc.		13,078		283,269
Moelis & Co. - Class A		20,136		1,103,453
Oppenheimer Holdings, Inc. - Class A		4,998		157,937
Piper Jaffray Cos.		7,063		539,260
PJT Partners, Inc. - Class A		9,330		488,425
Stifel Financial Corp.		29,695		1,522,166
Virtus Investment Partners, Inc.		3,239		368,436
Waddell & Reed Financial, Inc. - Class A (b)		33,654		712,792
Westwood Holdings Group, Inc.		3,235		167,379
WisdomTree Investments, Inc.		53,688		455,274
				12,333,879
Chemicals—2.0%
AdvanSix, Inc. (a)		14,472		491,324
American Vanguard Corp.		14,887		267,966
Balchem Corp.		13,712		1,536,978
Chase Corp.		3,533		424,490
Ferro Corp. (a)		38,898		903,212
FutureFuel Corp.		10,195		189,015
GCP Applied Technologies, Inc. (a)		33,065		877,876
Hawkins, Inc.		4,778		198,048
HB Fuller Co.		21,308		1,100,984
Ingevity Corp. (a)		18,263		1,860,634
Innophos Holdings, Inc.		9,207		408,791
Innospec, Inc.		11,303		867,505
Intrepid Potash, Inc. (a)		46,261		166,077
KMG Chemicals, Inc.		6,159		465,374
Koppers Holdings, Inc. (a)		10,265		319,755
Kraton Corp. (a)		14,021		661,090
Kronos Worldwide, Inc.		11,199		181,984
Minerals Technologies, Inc.		16,213		1,095,999
OMNOVA Solutions, Inc. (a)		21,500		211,775
PolyOne Corp.		34,248		1,497,323
PQ Group Holdings, Inc. (a)		14,392		251,428
Quaker Chemical Corp.		5,838		1,180,502
Rayonier Advanced Materials, Inc.		22,944		422,858
Sensient Technologies Corp. (b)		18,001		1,377,257
Stepan Co.		9,222		802,406
Trecora Resources (a) (b)		10,819		151,466
Tredegar Corp.		13,367		289,396
Trinseo S.A.		17,985		1,408,225
Tronox, Ltd. - Class A		43,198		516,216
				20,125,954

BHFTII-213

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Commercial Services & Supplies—2.5%
ABM Industries, Inc. (b)		30,335	$	978,304
ACCO Brands Corp.		48,975		553,417
Advanced Disposal Services, Inc. (a)		33,294		901,602
Brady Corp. - Class A		21,723		950,381
BrightView Holdings, Inc. (a)		17,270		277,184
Brink’s Co. (The)		21,381		1,491,325
Casella Waste Systems, Inc. - Class A (a)		16,372		508,514
Cimpress NV (a)		9,290		1,269,107
Covanta Holding Corp.		53,904		875,940
Deluxe Corp.		21,616		1,230,815
Ennis, Inc.		14,123		288,815
Essendant, Inc.		18,301		234,619
Healthcare Services Group, Inc. (b)		31,273		1,270,309
Heritage-Crystal Clean, Inc. (a)		7,474		159,570
Herman Miller, Inc.		27,251		1,046,438
HNI Corp.		18,317		810,344
Interface, Inc.		27,071		632,108
Kimball International, Inc. - Class B		16,738		280,362
Knoll, Inc.		23,781		557,664
LSC Communications, Inc. (b)		16,124		178,331
Matthews International Corp. - Class A (b)		14,349		719,602
McGrath RentCorp		10,515		572,752
Mobile Mini, Inc.		20,245		887,743
MSA Safety, Inc.		14,519		1,545,402
Multi-Color Corp. (b)		6,168		383,958
Pitney Bowes, Inc. (b)		71,767		508,110
Quad/Graphics, Inc.		13,076		272,504
RR Donnelley & Sons Co.		33,165		179,091
SP Plus Corp. (a)		10,567		385,696
Steelcase, Inc. - Class A		39,276		726,606
Team, Inc. (a) (b)		14,183		319,118
Tetra Tech, Inc. (d)		24,133		1,648,284
U.S. Ecology, Inc.		10,067		742,441
UniFirst Corp.		6,967		1,209,820
Viad Corp.		8,932		529,221
VSE Corp.		4,190		138,815
				25,264,312
Communications Equipment—1.6%
Acacia Communications, Inc. (a)		12,769		528,254
ADTRAN, Inc.		24,190		426,953
Applied Optoelectronics, Inc. (a) (b)		8,622		212,619
CalAmp Corp. (a)		14,239		341,166
Calix, Inc. (a)		21,486		174,037
Casa Systems, Inc. (a) (b)		12,603		185,894
Ciena Corp. (a)		61,746		1,928,945
Comtech Telecommunications Corp.		11,475		416,198
Digi International, Inc. (a)		12,500		168,125
Extreme Networks, Inc. (a)		50,414		276,269
Finisar Corp. (a) (b)		52,901		1,007,764
Harmonic, Inc. (a) (b)		38,803		213,417
Infinera Corp. (a) (b)		66,643		486,494
InterDigital, Inc. (b)		14,704		1,176,320
Lumentum Holdings, Inc. (a)		26,818		1,607,739
NETGEAR, Inc. (a) (b)		13,343		838,608
NetScout Systems, Inc. (a) (b)		36,399		919,075

Security Description	Shares		Value
Communications Equipment—(Continued)
Oclaro, Inc. (a)		75,775	$	677,428
Plantronics, Inc. (b)		14,059		847,758
Quantenna Communications, Inc. (a)		15,870		292,801
Ribbon Communications, Inc. (a)		25,862		176,637
ViaSat, Inc. (a) (b)		24,578		1,571,763
Viavi Solutions, Inc. (a)		100,089		1,135,009
				15,609,273
Construction & Engineering—1.0%
Aegion Corp. (a) (b)		15,075		382,604
Argan, Inc. (b)		6,140		264,020
Comfort Systems USA, Inc.		16,446		927,554
Dycom Industries, Inc. (a) (b)		13,476		1,140,070
EMCOR Group, Inc.		25,321		1,901,860
Granite Construction, Inc. (b)		19,793		904,540
Great Lakes Dredge & Dock Corp. (a)		27,775		172,205
KBR, Inc.		62,037		1,310,842
MasTec, Inc. (a) (b)		28,988		1,294,314
MYR Group, Inc. (a)		6,874		224,367
NV5 Global, Inc. (a) (b)		3,969		344,112
Primoris Services Corp.		17,845		442,913
Sterling Construction Co., Inc. (a)		13,246		189,683
Tutor Perini Corp. (a) (b)		19,192		360,810
Willscot Corp. (a) (b)		14,553		249,584
				10,109,478
Construction Materials—0.1%
Summit Materials, Inc. - Class A (a) (b)		51,305		932,725
U.S. Concrete, Inc. (a) (b)		7,217		330,899
				1,263,624
Consumer Finance—0.7%
Curo Group Holdings Corp. (a)		5,722		172,976
Encore Capital Group, Inc. (a) (b)		11,469		411,164
Enova International, Inc. (a)		15,391		443,261
EZCORP, Inc. - Class A (a)		25,543		273,310
FirstCash, Inc.		19,348		1,586,536
Green Dot Corp. - Class A (a)		21,516		1,911,051
LendingClub Corp. (a)		142,833		554,192
Nelnet, Inc. - Class A		9,125		521,676
PRA Group, Inc. (a) (b)		19,388		697,968
Regional Management Corp. (a)		5,496		158,450
World Acceptance Corp. (a)		2,848		325,697
				7,056,281
Containers & Packaging—0.1%
Greif, Inc. - Class A (b)		12,112		649,930
Greif, Inc. - Class B		2,277		131,269
Myers Industries, Inc.		14,676		341,217
				1,122,416
Distributors—0.1%
Core-Mark Holding Co., Inc.		21,704		737,068

BHFTII-214

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Consumer Services—0.8%
Adtalem Global Education, Inc. (a)		27,412	$	1,321,259
American Public Education, Inc. (a)		6,406		211,718
Career Education Corp. (a)		31,150		465,070
Carriage Services, Inc.		7,506		161,754
Chegg, Inc. (a)		48,634		1,382,665
Houghton Mifflin Harcourt Co. (a)		34,105		238,735
K12, Inc. (a)		17,337		306,865
Laureate Education, Inc. - Class A (a)		37,380		577,147
Regis Corp. (a)		18,180		371,417
Sotheby’s (a)		15,890		781,629
Strategic Education, Inc.		9,106		1,247,795
Weight Watchers International, Inc. (a)		17,564		1,264,432
				8,330,486
Diversified Financial Services—0.2%
Banco Latinoamericano de Comercio Exterior S.A. - Class E		14,005		292,985
Cannae Holdings, Inc. (a)		30,326		635,330
FGL Holdings (a)		61,920		554,184
On Deck Capital, Inc. (a)		25,436		192,550
				1,675,049
Diversified Telecommunication Services—0.6%
ATN International, Inc. (b)		4,754		351,226
Cincinnati Bell, Inc. (a)		19,517		311,296
Cogent Communications Holdings, Inc.		19,575		1,092,285
Consolidated Communications Holdings, Inc. (b)		32,698		426,382
Frontier Communications Corp. (b)		47,610		308,989
Intelsat S.A. (a)		18,597		557,910
Iridium Communications, Inc. (a)		44,054		991,215
Ooma, Inc. (a)		9,215		152,969
ORBCOMM, Inc. (a) (b)		31,662		343,849
pdvWireless, Inc. (a)		4,481		151,906
Vonage Holdings Corp. (a)		92,718		1,312,887
				6,000,914
Electric Utilities—1.0%
ALLETE, Inc.		22,048		1,653,820
El Paso Electric Co.		17,076		976,747
IDACORP, Inc.		21,685		2,151,803
MGE Energy, Inc.		15,960		1,019,046
Otter Tail Corp.		18,035		863,877
PNM Resources, Inc.		36,376		1,435,033
Portland General Electric Co.		40,066		1,827,410
				9,927,736
Electrical Equipment—0.7%
Allied Motion Technologies, Inc.		3,283		178,694
Atkore International Group, Inc. (a)		18,445		489,346
AZZ, Inc.		10,507		530,603
Encore Wire Corp.		9,729		487,423
Energous Corp. (a) (b)		8,994		91,019
EnerSys		19,020		1,657,212
Enphase Energy, Inc. (a) (b)		17,580		85,263
Generac Holdings, Inc. (a)		26,660		1,503,891
Plug Power, Inc. (a) (b)		43,715		83,933

Security Description	Shares		Value
Electrical Equipment—(Continued)
Powell Industries, Inc.		4,404	$	159,689
Sunrun, Inc. (a)		43,801		544,884
Thermon Group Holdings, Inc. (a)		15,847		408,536
TPI Composites, Inc. (a)		7,332		209,329
Vicor Corp. (a)		7,027		323,242
				6,753,064
Electronic Equipment, Instruments & Components—2.3%
Anixter International, Inc. (a)		13,642		959,033
AVX Corp.		21,871		394,772
Badger Meter, Inc. (b)		11,611		614,802
Bel Fuse, Inc. - Class B		4,708		124,762
Belden, Inc. (b)		17,022		1,215,541
Benchmark Electronics, Inc. (b)		20,690		484,146
Control4 Corp. (a) (b)		10,604		364,035
CTS Corp.		15,701		538,544
Daktronics, Inc.		17,820		139,709
Electro Scientific Industries, Inc. (a) (b)		16,104		281,015
ePlus, Inc. (a)		6,246		579,004
Fabrinet (a)		14,928		690,569
FARO Technologies, Inc. (a)		7,841		504,568
Fitbit, Inc. - Class A (a) (b)		94,378		504,922
II-VI, Inc. (a)		28,216		1,334,617
Insight Enterprises, Inc. (a) (d)		15,396		832,770
Itron, Inc. (a)		14,816		951,187
KEMET Corp. (a)		25,798		478,553
Kimball Electronics, Inc. (a)		14,109		277,242
Knowles Corp. (a)		40,362		670,816
Mesa Laboratories, Inc.		1,474		273,604
Methode Electronics, Inc.		15,351		555,706
MTS Systems Corp.		7,482		409,640
Novanta, Inc. (a)		13,765		941,526
OSI Systems, Inc. (a) (b)		7,093		541,267
Park Electrochemical Corp.		10,569		205,990
PC Connection, Inc.		5,366		208,684
Plexus Corp. (a) (d)		13,647		798,486
Rogers Corp. (a)		8,166		1,203,015
Sanmina Corp. (a)		31,844		878,894
ScanSource, Inc. (a)		12,162		485,264
SYNNEX Corp.		12,679		1,073,911
Tech Data Corp. (a) (b)		17,438		1,248,038
TTM Technologies, Inc. (a) (b)		43,439		691,114
Vishay Intertechnology, Inc.		60,883		1,238,969
Vishay Precision Group, Inc. (a)		5,267		196,986
				22,891,701
Energy Equipment & Services—1.9%
Archrock, Inc.		54,537		665,351
Bristow Group, Inc. (a) (b)		17,044		206,744
C&J Energy Services, Inc. (a)		30,083		625,726
Cactus, Inc. - Class A (a)		17,081		653,861
Covia Holdings Corp. (a)		15,170		136,075
Diamond Offshore Drilling, Inc. (a) (b)		27,291		545,820
Dril-Quip, Inc. (a)		15,999		835,948
Exterran Corp. (a)		14,849		393,944
Forum Energy Technologies, Inc. (a)		38,569		399,189

BHFTII-215

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Energy Equipment & Services—(Continued)
Frank’s International NV		36,054	$	312,949
FTS International, Inc. (a)		16,194		190,927
Helix Energy Solutions Group, Inc. (a) (b)		67,569		667,582
Keane Group, Inc. (a)		25,842		319,665
KLX Energy Services Holdings, Inc. (a)		9,171		293,564
Liberty Oilfield Services, Inc. - Class A (b)		20,373		439,446
Mammoth Energy Services, Inc.		6,277		182,661
Matrix Service Co. (a)		14,196		349,931
McDermott International, Inc. (a)		78,718		1,450,773
Natural Gas Services Group, Inc. (a)		6,643		140,167
Newpark Resources, Inc. (a)		41,815		432,785
Nine Energy Service, Inc. (a)		7,202		220,237
Noble Corp. plc (a) (b)		121,320		852,880
Ocean Rig UDW, Inc. - Class A (a)		25,463		881,529
Oceaneering International, Inc. (b)		45,596		1,258,450
Oil States International, Inc. (a)		27,605		916,486
Pioneer Energy Services Corp. (a)		40,379		119,118
ProPetro Holding Corp. (a) (b)		33,439		551,409
RigNet, Inc. (a)		7,390		150,386
Rowan Cos. plc - Class A (a)		56,769		1,068,960
SEACOR Holdings, Inc. (a)		7,977		394,143
SEACOR Marine Holdings, Inc. (a)		8,966		202,901
Select Energy Services, Inc. - Class A (a)		21,969		260,113
Solaris Oilfield Infrastructure, Inc. - Class A (a) (b)		13,032		246,174
Superior Energy Services, Inc. (a)		73,574		716,611
TETRA Technologies, Inc. (a)		58,562		264,115
Tidewater, Inc. (a)		11,300		352,447
U.S. Silica Holdings, Inc. (b)		34,136		642,781
Unit Corp. (a)		24,655		642,509
				18,984,357
Entertainment—0.6%
AMC Entertainment Holdings, Inc. - Class A (b)		25,675		526,337
Eros International plc (a)		13,360		160,988
Glu Mobile, Inc. (a)		50,565		376,709
IMAX Corp. (a)		23,016		593,813
Liberty Braves Group - Class A (a)		5,080		138,582
Liberty Braves Group - Class C (a) (b)		16,010		436,273
Marcus Corp. (The)		9,550		401,578
Pandora Media, Inc. (a) (b)		113,159		1,076,142
Reading International, Inc. - Class A (a)		8,504		134,363
Rosetta Stone, Inc. (a)		9,843		195,777
World Wrestling Entertainment, Inc. - Class A		19,301		1,866,986
				5,907,548
Equity Real Estate Investment Trusts—6.3%
Acadia Realty Trust (b)		34,500		967,035
Agree Realty Corp.		13,037		692,525
Alexander & Baldwin, Inc.		29,617		672,010
Alexander’s, Inc.		1,029		353,256
American Assets Trust, Inc.		16,370		610,437
Americold Realty Trust (b)		38,305		958,391
Armada Hoffler Properties, Inc.		19,662		297,093
Ashford Hospitality Trust, Inc.		36,619		233,995
Braemar Hotels & Resorts, Inc.		14,521		170,912
CareTrust REIT, Inc.		34,103		603,964
Equity Real Estate Investment Trusts—(Continued)
CatchMark Timber Trust, Inc. - Class A		23,620		269,977
CBL & Associates Properties, Inc. (b)		78,126		311,723
Cedar Realty Trust, Inc.		37,954		176,866
Chatham Lodging Trust		19,109		399,187
Chesapeake Lodging Trust		24,761		794,085
City Office REIT, Inc.		14,820		187,028
Community Healthcare Trust, Inc.		6,825		211,438
CoreCivic, Inc.		54,476		1,325,401
CorEnergy Infrastructure Trust, Inc. (b)		5,980		224,728
Corepoint Lodging, Inc.		18,376		357,413
Cousins Properties, Inc.		183,442		1,630,799
DiamondRock Hospitality Co.		92,371		1,077,970
Easterly Government Properties, Inc. (b)		27,307		528,937
EastGroup Properties, Inc.		15,737		1,504,772
First Industrial Realty Trust, Inc.		53,382		1,676,195
Four Corners Property Trust, Inc.		29,818		766,024
Franklin Street Properties Corp.		48,177		384,934
Front Yard Residential Corp.		23,934		259,684
Geo Group, Inc. (The)		53,292		1,340,827
Getty Realty Corp.		13,449		384,103
Gladstone Commercial Corp.		13,243		253,603
Global Net Lease, Inc.		31,987		666,929
Government Properties Income Trust		44,872		506,605
Gramercy Property Trust		68,529		1,880,436
Healthcare Realty Trust, Inc. (b)		53,035		1,551,804
Hersha Hospitality Trust		16,071		364,330
Independence Realty Trust, Inc.		39,339		414,240
Industrial Logistics Properties Trust (b)		9,163		210,841
InfraREIT, Inc.		19,986		422,704
Innovative Industrial Properties, Inc. (b)		3,223		155,477
Investors Real Estate Trust		55,650		332,787
iStar, Inc.		31,393		350,660
Jernigan Capital, Inc.		8,813		170,003
Kite Realty Group Trust		38,990		649,183
LaSalle Hotel Properties		49,981		1,728,843
Lexington Realty Trust		86,092		714,564
LTC Properties, Inc.		17,896		789,393
Mack-Cali Realty Corp.		38,134		810,729
MedEquities Realty Trust, Inc.		10,709		104,091
Monmouth Real Estate Investment Corp.		32,365		541,143
National Health Investors, Inc.		18,042		1,363,795
National Storage Affiliates Trust		25,366		645,311
New Senior Investment Group, Inc.		16,579		97,816
NexPoint Residential Trust, Inc.		9,154		303,913
NorthStar Realty Europe Corp.		22,208		314,465
One Liberty Properties, Inc.		6,290		174,736
Pebblebrook Hotel Trust (b)		30,891		1,123,506
Pennsylvania Real Estate Investment Trust (b)		32,570		308,112
Physicians Realty Trust		82,152		1,385,083
Piedmont Office Realty Trust, Inc. - Class A		58,830		1,113,652
PotlatchDeltic Corp.		27,255		1,116,092
Preferred Apartment Communities, Inc. - Class A		18,839		331,190
PS Business Parks, Inc.		8,900		1,131,101
QTS Realty Trust, Inc. - Class A		22,822		973,815
Ramco-Gershenson Properties Trust		37,976		516,474
Retail Opportunity Investments Corp. (b)		52,344		977,262
Rexford Industrial Realty, Inc.		40,096		1,281,468

BHFTII-216

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
RLJ Lodging Trust		77,648	$	1,710,585
Ryman Hospitality Properties, Inc.		19,180		1,652,741
Sabra Health Care REIT, Inc. (b)		80,613		1,863,773
Saul Centers, Inc.		5,405		302,680
Select Income REIT		31,114		682,641
Seritage Growth Properties - Class A (b)		15,000		712,350
Spirit MTA REIT		21,163		243,798
STAG Industrial, Inc.		44,891		1,234,502
Summit Hotel Properties, Inc.		48,101		650,806
Sunstone Hotel Investors, Inc.		103,053		1,685,947
Tanger Factory Outlet Centers, Inc. (b)		42,302		967,870
Terreno Realty Corp.		25,347		955,582
Tier REIT, Inc.		22,342		538,442
UMH Properties, Inc.		14,825		231,863
Universal Health Realty Income Trust		6,109		454,571
Urban Edge Properties		50,231		1,109,100
Urstadt Biddle Properties, Inc. - Class A		13,207		281,177
Washington Prime Group, Inc. (b)		85,471		623,938
Washington Real Estate Investment Trust		34,947		1,071,126
Whitestone REIT		18,215		252,824
Xenia Hotels & Resorts, Inc.		49,824		1,180,829
				63,555,010
Food & Staples Retailing—0.6%
Andersons, Inc. (The)		13,251		498,900
BJ’s Wholesale Club Holdings, Inc. (a)		22,917		613,717
Chefs’ Warehouse, Inc. (The) (a)		8,577		311,774
Ingles Markets, Inc. - Class A		6,173		211,425
Performance Food Group Co. (a)		45,579		1,517,781
Pricesmart, Inc. (b)		9,083		735,269
Rite Aid Corp. (a) (b)		474,399		607,231
SpartanNash Co.		16,917		339,355
SUPERVALU, Inc. (a) (b)		17,497		563,753
United Natural Foods, Inc. (a) (b)		23,843		714,098
Weis Markets, Inc. (b)		4,490		194,866
				6,308,169
Food Products—1.0%
B&G Foods, Inc. (b)		30,133		827,151
Cal-Maine Foods, Inc.		14,364		693,781
Calavo Growers, Inc. (b)		7,353		710,300
Darling Ingredients, Inc. (a)		72,905		1,408,525
Dean Foods Co. (b)		42,544		302,062
Farmer Bros Co. (a)		3,967		104,729
Fresh Del Monte Produce, Inc.		13,189		446,975
Freshpet, Inc. (a)		10,616		389,607
Hostess Brands, Inc. (a) (b)		45,622		505,035
J&J Snack Foods Corp.		6,247		942,610
John B Sanfilippo & Son, Inc.		4,150		296,227
Lancaster Colony Corp. (b)		8,639		1,289,025
Landec Corp. (a)		14,010		201,744
Limoneira Co.		6,209		162,117
Sanderson Farms, Inc. (b)		9,362		967,750
Simply Good Foods Co. (The) (a)		26,653		518,401
Tootsie Roll Industries, Inc. (b)		8,871		259,477
				10,025,516
Gas Utilities—1.0%
Chesapeake Utilities Corp.		6,975		585,203
New Jersey Resources Corp.		38,723		1,785,130
Northwest Natural Holding Co.		13,257		886,893
ONE Gas, Inc.		23,372		1,923,048
South Jersey Industries, Inc. (b)		37,782		1,332,571
Southwest Gas Holdings, Inc.		21,731		1,717,401
Spire, Inc.		20,952		1,541,020
				9,771,266
Health Care Equipment & Supplies—3.9%
Accuray, Inc. (a)		8,943		40,244
AngioDynamics, Inc. (a) (b)		17,852		388,103
Anika Therapeutics, Inc. (a) (b)		7,087		298,930
Antares Pharma, Inc. (a)		69,581		233,792
AtriCure, Inc. (a)		16,270		569,938
Atrion Corp.		618		429,386
Avanos Medical, Inc. (a)		20,898		1,431,513
AxoGen, Inc. (a)		15,476		570,291
Cardiovascular Systems, Inc. (a)		14,951		585,182
Cerus Corp. (a)		58,326		420,530
CONMED Corp.		11,683		925,527
CryoLife, Inc. (a)		17,220		606,144
CryoPort, Inc. (a) (b)		12,188		156,128
Cutera, Inc. (a)		6,744		219,517
CytoSorbents Corp. (a) (b)		14,785		190,727
GenMark Diagnostics, Inc. (a)		26,350		193,673
Glaukos Corp. (a) (b)		15,446		1,002,445
Globus Medical, Inc. - Class A (a)		32,771		1,860,082
Haemonetics Corp. (a)		22,809		2,613,455
Heska Corp. (a) (b)		3,277		371,317
Inogen, Inc. (a) (b)		7,603		1,856,044
Integer Holdings Corp. (a)		13,621		1,129,862
IntriCon Corp. (a)		3,271		183,830
Invacare Corp. (b)		15,930		231,782
iRhythm Technologies, Inc. (a)		11,010		1,042,207
K2M Group Holdings, Inc. (a)		19,428		531,744
Lantheus Holdings, Inc. (a)		18,267		273,092
LeMaitre Vascular, Inc. (b)		7,651		296,400
LivaNova plc (a)		21,333		2,644,652
Meridian Bioscience, Inc. (b)		22,552		336,025
Merit Medical Systems, Inc. (a) (b)		23,561		1,447,823
Natus Medical, Inc. (a) (b)		15,157		540,347
Neogen Corp. (a)		21,760		1,556,493
Nevro Corp. (a)		13,030		742,710
Novocure, Ltd. (a)		33,161		1,737,636
NuVasive, Inc. (a) (b)		22,101		1,568,729
Nuvectra Corp. (a)		7,371		162,015
NxStage Medical, Inc. (a)		30,508		850,868
OraSure Technologies, Inc. (a)		28,446		439,491
Orthofix Medical, Inc. (a)		7,561		437,101
Oxford Immunotec Global plc (a)		12,520		203,200
Quidel Corp. (a)		15,132		986,152
Senseonics Holdings, Inc. (a) (b)		42,278		201,666
Sientra, Inc. (a)		11,599		276,984
STAAR Surgical Co. (a)		19,419		932,112
SurModics, Inc. (a)		6,159		459,769
Tactile Systems Technology, Inc. (a)		8,238		585,310

BHFTII-217

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Equipment & Supplies—(Continued)
Tandem Diabetes Care, Inc. (a)		22,706	$	972,725
TransEnterix, Inc. (a) (b)		73,037		423,615
Utah Medical Products, Inc.		2,002		188,588
Varex Imaging Corp. (a)		17,885		512,584
ViewRay, Inc. (a) (b)		25,410		237,838
Wright Medical Group NV (a) (b)		55,761		1,618,184
				38,714,502
Health Care Providers & Services—1.9%
Addus HomeCare Corp. (a)		4,191		293,999
Amedisys, Inc. (a) (b)		11,809		1,475,653
American Renal Associates Holdings, Inc. (a)		6,805		147,328
AMN Healthcare Services, Inc. (a) (b)		21,592		1,181,082
BioScrip, Inc. (a)		62,422		193,508
BioTelemetry, Inc. (a)		15,132		975,257
Brookdale Senior Living, Inc. (a) (b)		86,808		853,323
Community Health Systems, Inc. (a) (b)		43,641		150,998
Corvel Corp. (a)		3,435		206,959
Cross Country Healthcare, Inc. (a)		16,495		144,001
Diplomat Pharmacy, Inc. (a) (b)		26,141		507,397
Ensign Group, Inc. (The) (b)		21,431		812,664
HealthEquity, Inc. (a) (b)		23,550		2,223,356
LHC Group, Inc. (a)		13,057		1,344,740
LifePoint Health, Inc. (a)		16,466		1,060,410
Magellan Health, Inc. (a)		11,100		799,755
National Healthcare Corp.		5,246		395,391
National Research Corp. - Class A		4,950		191,070
Owens & Minor, Inc. (b)		28,475		470,407
Patterson Cos., Inc. (b)		37,980		928,611
PetIQ, Inc. (a) (b)		5,349		210,269
Providence Service Corp. (The) (a)		5,978		402,200
R1 RCM, Inc. (a)		47,026		477,784
RadNet, Inc. (a)		21,044		316,712
Select Medical Holdings Corp. (a)		47,385		871,884
Surgery Partners, Inc. (a)		9,540		157,410
Tenet Healthcare Corp. (a)		38,490		1,095,425
Tivity Health, Inc. (a) (b)		18,680		600,562
Triple-S Management Corp. - Class B (a)		9,291		175,507
U.S. Physical Therapy, Inc. (b)		6,011		712,905
				19,376,567
Health Care Technology—1.1%
Allscripts Healthcare Solutions, Inc. (a)		77,571		1,105,387
Computer Programs & Systems, Inc. (b)		5,856		157,234
Evolent Health, Inc. - Class A (a) (b)		31,066		882,274
HealthStream, Inc.		12,016		372,616
HMS Holdings Corp. (a)		37,216		1,221,057
Inovalon Holdings, Inc. - Class A (a) (b)		29,972		301,219
Inspire Medical Systems, Inc. (a)		2,914		122,621
Medidata Solutions, Inc. (a) (b)		24,663		1,808,045
NextGen Healthcare, Inc. (a)		24,814		498,265
Omnicell, Inc. (a) (b)		16,836		1,210,508
Tabula Rasa HealthCare, Inc. (a) (b)		8,170		663,322
Teladoc Health, Inc. (a) (b)		29,056		2,508,986
Vocera Communications, Inc. (a)		13,407		490,428
				11,341,962
Hotels, Restaurants & Leisure—3.0%
BBX Capital Corp.		25,192		186,925
Belmond, Ltd. - Class A (a)		41,761		762,138
BJ’s Restaurants, Inc. (b)		9,083		655,793
Bloomin’ Brands, Inc.		36,028		712,994
Boyd Gaming Corp.		36,831		1,246,729
Brinker International, Inc. (b)		20,422		954,320
Carrols Restaurant Group, Inc. (a)		17,458		254,887
Cheesecake Factory, Inc. (The) (b)		18,905		1,012,174
Churchill Downs, Inc.		4,976		1,381,835
Chuy’s Holdings, Inc. (a) (b)		8,272		217,140
Cracker Barrel Old Country Store, Inc. (b)		8,458		1,244,426
Dave & Buster’s Entertainment, Inc. (b)		17,269		1,143,553
Del Frisco’s Restaurant Group, Inc. (a)		16,266		135,008
Del Taco Restaurants, Inc. (a)		16,196		191,275
Denny’s Corp. (a)		25,229		371,371
Dine Brands Global, Inc.		7,762		631,128
Drive Shack, Inc. (a) (b)		29,184		173,937
El Pollo Loco Holdings, Inc. (a)		10,879		136,531
Eldorado Resorts, Inc. (a) (b)		27,820		1,352,052
Fiesta Restaurant Group, Inc. (a)		9,712		259,796
Golden Entertainment, Inc. (a)		8,432		202,452
Habit Restaurants, Inc. (The) - Class A (a)		10,004		159,564
International Speedway Corp. - Class A (b)		10,424		456,571
Jack in the Box, Inc.		12,021		1,007,720
Lindblad Expeditions Holdings, Inc. (a)		10,779		160,284
Marriott Vacations Worldwide Corp.		16,923		1,891,145
Monarch Casino & Resort, Inc. (a)		5,265		239,294
Papa John’s International, Inc. (b)		10,257		525,979
Penn National Gaming, Inc. (a)		36,335		1,196,148
Pinnacle Entertainment, Inc. (a)		22,818		768,738
Planet Fitness, Inc. - Class A (a)		39,546		2,136,670
PlayAGS, Inc. (a)		9,992		294,464
Potbelly Corp. (a)		12,520		153,996
RCI Hospitality Holdings, Inc.		4,756		140,825
Red Robin Gourmet Burgers, Inc. (a)		5,863		235,400
Red Rock Resorts, Inc. - Class A		32,000		852,800
Ruth’s Hospitality Group, Inc.		13,027		411,002
Scientific Games Corp. - Class A (a)		24,798		629,869
SeaWorld Entertainment, Inc. (a)		25,485		800,994
Shake Shack, Inc. - Class A (a)		11,359		715,731
Sonic Corp.		16,919		733,270
Texas Roadhouse, Inc.		29,169		2,021,120
Wingstop, Inc.		12,085		825,043
				29,583,091
Household Durables—1.5%
AV Homes, Inc. (a)		6,263		125,260
Beazer Homes USA, Inc. (a)		13,700		143,850
Cavco Industries, Inc. (a)		3,571		903,463
Century Communities, Inc. (a)		12,109		317,861
Ethan Allen Interiors, Inc. (b)		12,159		252,299
GoPro, Inc. - Class A (a) (b)		36,321		261,511
Helen of Troy, Ltd. (a)		11,424		1,495,402
Hooker Furniture Corp.		5,444		184,007
Installed Building Products, Inc. (a)		9,469		369,291
iRobot Corp. (a) (b)		11,431		1,256,496
KB Home		37,780		903,320

BHFTII-218

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Durables—(Continued)
La-Z-Boy, Inc.		21,678	$	685,025
LGI Homes, Inc. (a) (b)		8,210		389,482
M/I Homes, Inc. (a)		12,868		307,931
MDC Holdings, Inc.		19,261		569,740
Meritage Homes Corp. (a) (b)		18,033		719,517
Roku, Inc. (a)		19,013		1,388,519
Skyline Champion Corp.		13,094		374,096
Taylor Morrison Home Corp. - Class A (a)		50,576		912,391
TopBuild Corp. (a)		15,564		884,346
TRI Pointe Group, Inc. (a) (b)		66,237		821,339
Tupperware Brands Corp.		23,557		787,982
Universal Electronics, Inc. (a)		6,028		237,202
William Lyon Homes - Class A (a)		14,816		235,426
ZAGG, Inc. (a)		14,118		208,241
				14,733,997
Household Products—0.2%
Central Garden and Pet Co. (a)		4,446		160,234
Central Garden and Pet Co. - Class A (a)		18,062		598,574
WD-40 Co. (b)		5,879		1,011,776
				1,770,584
Independent Power and Renewable Electricity Producers—0.3%
Clearway Energy, Inc. - Class A		16,087		306,296
Clearway Energy, Inc. - Class C		29,107		560,310
Ormat Technologies, Inc. (b)		16,822		910,238
Pattern Energy Group, Inc. - Class A (b)		35,949		714,307
TerraForm Power, Inc. - Class A		34,889		402,968
				2,894,119
Industrial Conglomerates—0.1%
Raven Industries, Inc.		15,898		727,334
Insurance—2.6%
Ambac Financial Group, Inc. (a)		22,444		458,306
American Equity Investment Life Holding Co.		37,983		1,343,079
AMERISAFE, Inc.		9,298		576,011
Amtrust Financial Services, Inc.		51,253		744,194
Argo Group International Holdings, Ltd.		14,435		910,127
Citizens, Inc. (a) (b)		22,172		186,245
CNO Financial Group, Inc.		71,414		1,515,405
eHealth, Inc. (a)		7,987		225,713
Employers Holdings, Inc.		14,789		669,942
Enstar Group, Ltd. (a)		5,526		1,152,171
FBL Financial Group, Inc. - Class A		4,790		360,447
FedNat Holding Co.		5,989		152,600
Genworth Financial, Inc. - Class A (a)		223,663		932,675
Global Indemnity, Ltd.		3,335		125,729
Goosehead Insurance, Inc. - Class A (a) (b)		5,024		170,163
Greenlight Capital Re, Ltd. - Class A (a) (b)		13,998		173,575
HCI Group, Inc.		4,347		190,181
Health Insurance Innovations, Inc. - Class A (a) (b)		5,782		356,460
Heritage Insurance Holdings, Inc. (b)		11,792		174,757
Horace Mann Educators Corp.		18,978		852,112
James River Group Holdings, Ltd.		12,177		518,984
Kemper Corp.		23,579		1,896,931
Insurance—(Continued)
Kinsale Capital Group, Inc.		9,172		585,724
MBIA, Inc. (a) (b)		41,874		447,633
National General Holdings Corp. (b)		28,508		765,155
National Western Life Group, Inc. - Class A		1,054		336,437
Navigators Group, Inc. (The)		9,344		645,670
Primerica, Inc.		18,907		2,279,239
ProAssurance Corp.		24,492		1,149,899
RLI Corp. (b)		16,583		1,303,092
Safety Insurance Group, Inc.		6,815		610,624
Selective Insurance Group, Inc.		24,829		1,576,641
State Auto Financial Corp.		7,940		242,488
Stewart Information Services Corp.		10,993		494,795
Third Point Reinsurance, Ltd. (a)		34,789		452,257
Trupanion, Inc. (a) (b)		11,074		395,674
United Fire Group, Inc.		9,677		491,301
United Insurance Holdings Corp.		8,654		193,677
Universal Insurance Holdings, Inc. (b)		13,371		649,162
				26,305,275
Interactive Media & Services—0.6%
Care.com, Inc. (a)		6,999		154,748
Cargurus, Inc. (a)		21,694		1,208,139
Cars.com, Inc. (a) (b)		29,503		814,578
Liberty TripAdvisor Holdings, Inc. - Class A (a)		34,803		516,824
Meet Group, Inc. (The) (a)		33,008		163,390
QuinStreet, Inc. (a)		18,085		245,413
TrueCar, Inc. (a)		42,606		600,745
XO Group, Inc. (a)		11,305		389,796
Yelp, Inc. (a) (b)		36,366		1,789,207
				5,882,840
Internet & Direct Marketing Retail—1.0%
1-800-Flowers.com, Inc. - Class A (a)		13,330		157,294
Etsy, Inc. (a)		52,499		2,697,399
Groupon, Inc. (a)		195,286		736,228
Liberty Expedia Holdings, Inc. - Class A (a)		24,947		1,173,507
Nutrisystem, Inc. (b)		14,262		528,407
Overstock.com, Inc. (a) (b)		9,776		270,795
PetMed Express, Inc. (b)		9,436		311,482
Quotient Technology, Inc. (a) (b)		35,202		545,631
Shutterfly, Inc. (a)		15,092		994,412
Shutterstock, Inc. (b)		9,230		503,774
Stamps.com, Inc. (a)		7,719		1,746,038
				9,664,967
IT Services—2.0%
Brightcove, Inc. (a)		17,189		144,388
CACI International, Inc. - Class A (a) (d)		10,580		1,948,307
Carbonite, Inc. (a)		13,993		498,850
Cardtronics plc - Class A (a)		17,673		559,174
Cass Information Systems, Inc.		4,909		319,674
Convergys Corp.		38,443		912,637
CSG Systems International, Inc. (b)		15,258		612,456
Endurance International Group Holdings, Inc. (a)		27,122		238,674
Everi Holdings, Inc. (a)		31,818		291,771
EVERTEC, Inc.		25,916		624,576

BHFTII-219

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Evo Payments, Inc. - Class A (a) (b)		11,615	$	277,598
Exela Technologies, Inc. (a)		22,565		160,888
ExlService Holdings, Inc. (a)		15,305		1,013,191
GTT Communications, Inc. (a) (b)		18,758		814,097
Hackett Group, Inc. (The)		11,151		224,693
Internap Corp. (a) (b)		9,616		121,450
Limelight Networks, Inc. (a)		43,835		220,052
ManTech International Corp. - Class A		12,440		787,452
MAXIMUS, Inc.		27,829		1,810,555
NIC, Inc.		29,109		430,813
Perficient, Inc. (a)		17,369		462,884
Perspecta, Inc.		61,282		1,576,173
Presidio, Inc.		12,582		191,875
Science Applications International Corp.		17,892		1,442,095
Sykes Enterprises, Inc. (a)		18,634		568,151
Syntel, Inc. (a)		14,931		611,872
Travelport Worldwide, Ltd.		56,729		957,018
TTEC Holdings, Inc.		7,377		191,064
Tucows, Inc. - Class A (a) (b)		4,376		243,962
Unisys Corp. (a) (b)		20,742		423,137
Virtusa Corp. (a)		12,986		697,478
Web.com Group, Inc. (a)		18,763		523,488
				19,900,493
Leisure Products—0.4%
Acushnet Holdings Corp.		14,893		408,515
American Outdoor Brands Corp. (a)		25,637		398,143
Callaway Golf Co. (b)		43,200		1,049,328
Johnson Outdoors, Inc. - Class A		2,524		234,707
Malibu Boats, Inc. - Class A (a)		8,768		479,785
MCBC Holdings, Inc. (a)		9,205		330,275
Nautilus, Inc. (a)		16,328		227,776
Sturm Ruger & Co., Inc. (b)		7,553		521,535
Vista Outdoor, Inc. (a) (b)		27,041		483,763
				4,133,827
Life Sciences Tools & Services—0.5%
Accelerate Diagnostics, Inc. (a) (b)		11,348		260,437
Cambrex Corp. (a) (b)		15,180		1,038,312
Codexis, Inc. (a) (b)		21,463		368,090
Luminex Corp.		18,901		572,889
Medpace Holdings, Inc. (a)		9,844		589,754
NanoString Technologies, Inc. (a)		11,330		202,014
NeoGenomics, Inc. (a) (b)		26,497		406,729
Pacific Biosciences of California, Inc. (a) (b)		57,706		312,190
Syneos Health, Inc. (a) (b)		28,231		1,455,308
				5,205,723
Machinery—3.9%
Actuant Corp. - Class A		28,401		792,388
Alamo Group, Inc.		4,629		424,063
Albany International Corp. - Class A		12,352		981,984
Altra Industrial Motion Corp. (b)		27,121		1,120,097
American Railcar Industries, Inc.		2,380		109,718
Astec Industries, Inc.		10,105		509,393
Barnes Group, Inc.		20,566		1,460,803
Machinery—(Continued)
Blue Bird Corp. (a)		5,751		140,899
Briggs & Stratton Corp.		19,347		372,043
Chart Industries, Inc. (a)		14,133		1,107,038
CIRCOR International, Inc.		7,291		346,322
Columbus McKinnon Corp.		10,074		398,326
Commercial Vehicle Group, Inc. (a)		14,650		134,194
DMC Global, Inc.		7,160		292,128
Douglas Dynamics, Inc.		9,877		433,600
Energy Recovery, Inc. (a) (b)		17,996		161,064
EnPro Industries, Inc.		8,388		611,737
ESCO Technologies, Inc.		10,899		741,677
Evoqua Water Technologies Corp. (a) (b)		34,844		619,526
Federal Signal Corp.		27,402		733,825
Franklin Electric Co., Inc.		21,104		997,164
Global Brass & Copper Holdings, Inc.		11,099		409,553
Gorman-Rupp Co. (The)		7,300		266,450
Graham Corp.		4,832		136,117
Greenbrier Cos., Inc. (The)		14,568		875,537
Harsco Corp. (a)		33,858		966,646
Hillenbrand, Inc.		26,557		1,388,931
Hurco Cos., Inc.		3,167		142,832
Hyster-Yale Materials Handling, Inc.		4,976		306,173
John Bean Technologies Corp. (b)		13,882		1,656,123
Kadant, Inc.		4,675		504,199
Kennametal, Inc. (b)		34,945		1,522,204
Lindsay Corp.		4,595		460,603
Lydall, Inc. (a)		8,342		359,540
Manitowoc Co., Inc. (The) (a)		15,849		380,217
Meritor, Inc. (a)		37,321		722,535
Milacron Holdings Corp. (a)		30,587		619,387
Miller Industries, Inc.		5,680		152,792
Mueller Industries, Inc.		26,115		756,813
Mueller Water Products, Inc. - Class A		62,155		715,404
Navistar International Corp. (a)		21,262		818,587
NN, Inc.		12,696		198,058
Park-Ohio Holdings Corp.		4,748		182,086
Proto Labs, Inc. (a)		11,672		1,887,946
RBC Bearings, Inc. (a)		10,069		1,513,975
REV Group, Inc. (b)		11,893		186,720
Rexnord Corp. (a)		44,341		1,365,703
Spartan Motors, Inc.		16,327		240,823
SPX Corp. (a)		17,680		588,921
SPX FLOW, Inc. (a)		19,349		1,006,148
Standex International Corp.		5,879		612,886
Sun Hydraulics Corp.		12,428		680,806
Tennant Co. (b)		8,362		635,094
Titan International, Inc.		22,706		168,478
TriMas Corp. (a)		18,947		575,989
Wabash National Corp. (b)		27,273		497,187
Watts Water Technologies, Inc. - Class A		12,721		1,055,843
Woodward, Inc.		22,995		1,859,376
				38,904,671
Marine—0.1%
Costamare, Inc.		19,016		123,414
Eagle Bulk Shipping, Inc. (a)		23,786		133,677

BHFTII-220

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Marine—(Continued)
Matson, Inc.		20,127	$	797,834
Scorpio Bulkers, Inc.		28,455		206,299
				1,261,224
Media—1.3%
Central European Media Enterprises, Ltd. - Class A (a)		41,828		156,855
Daily Journal Corp. (a) (b)		598		144,118
Emerald Expositions Events, Inc.		11,929		196,590
Entercom Communications Corp. - Class A (b)		46,166		364,711
Entravision Communications Corp. - Class A		31,119		152,483
EW Scripps Co. (The) - Class A (b)		21,625		356,813
Gannett Co., Inc.		48,407		484,554
Gray Television, Inc. (a)		36,845		644,788
Hemisphere Media Group, Inc. (a)		9,041		126,122
Liberty Latin America, Ltd. - Class A (a) (b)		20,395		425,032
Liberty Latin America, Ltd. - Class C (a)		52,143		1,075,710
Loral Space & Communications, Inc. (a)		6,669		302,773
MDC Partners, Inc. - Class A (a)		1,408		5,843
Meredith Corp. (b)		18,346		936,563
MSG Networks, Inc. - Class A (a) (b)		24,914		642,781
National CineMedia, Inc.		30,282		320,686
New Media Investment Group, Inc.		27,741		435,256
New York Times Co. (The) - Class A		58,218		1,347,747
Nexstar Media Group, Inc. - Class A (b)		19,881		1,618,313
Scholastic Corp.		13,390		625,179
Sinclair Broadcast Group, Inc. - Class A		31,990		906,917
TechTarget, Inc. (a)		9,817		190,646
TEGNA, Inc.		90,188		1,078,649
tronc, Inc. (a)		6,955		113,575
WideOpenWest, Inc. (a) (b)		15,386		172,477
				12,825,181
Metals & Mining—1.3%
AK Steel Holding Corp. (a) (b)		140,550		688,695
Allegheny Technologies, Inc. (a)		56,239		1,661,862
Carpenter Technology Corp.		20,845		1,228,813
Century Aluminum Co. (a) (b)		16,376		196,021
Cleveland-Cliffs, Inc. (a) (b)		134,737		1,705,770
Coeur Mining, Inc. (a)		83,654		445,876
Commercial Metals Co.		53,553		1,098,908
Compass Minerals International, Inc. (b)		15,656		1,052,083
Ferroglobe Representation & Warranty Insurance Trust (e)		31,634		0
Gold Resource Corp.		5,005		25,726
Havilah Mining Corp. (a)		2,506		660
Haynes International, Inc.		6,653		236,182
Hecla Mining Co. (b)		151,476		422,618
Kaiser Aluminum Corp.		7,582		826,893
Materion Corp.		9,498		574,629
Schnitzer Steel Industries, Inc. - Class A		10,351		279,995
SunCoke Energy, Inc. (a)		32,541		378,126
Tahoe Resources, Inc. (a)		140,851		392,974
TimkenSteel Corp. (a) (b)		18,629		277,013
Warrior Met Coal, Inc.		19,698		532,634
Worthington Industries, Inc.		19,515		846,170
				12,871,648

Security Description	Shares		Value
Mortgage Real Estate Investment Trusts—1.1%
AG Mortgage Investment Trust, Inc.		14,345	$	260,792
Anworth Mortgage Asset Corp.		23,280		107,786
Apollo Commercial Real Estate Finance, Inc.		56,688		1,069,703
Arbor Realty Trust, Inc. (b)		29,936		343,665
Ares Commercial Real Estate Corp.		11,438		159,789
ARMOUR Residential REIT, Inc.		19,400		435,530
Blackstone Mortgage Trust, Inc. - Class A (b)		49,203		1,648,793
Capstead Mortgage Corp.		43,532		344,338
Cherry Hill Mortgage Investment Corp.		7,926		143,461
Colony Credit Real Estate, Inc. (b)		37,213		818,314
Dynex Capital, Inc.		27,274		174,008
Exantas Capital Corp.		16,059		176,328
Granite Point Mortgage Trust, Inc. (b)		19,775		381,262
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)		23,478		504,073
Invesco Mortgage Capital, Inc.		49,693		786,143
KKR Real Estate Finance Trust, Inc.		7,679		154,885
Ladder Capital Corp.		40,418		684,681
New York Mortgage Trust, Inc. (b)		63,517		386,183
Orchid Island Capital, Inc. (b)		21,449		155,505
PennyMac Mortgage Investment Trust		26,727		540,955
Ready Capital Corp.		8,791		146,370
Redwood Trust, Inc.		36,925		599,662
TPG RE Finance Trust, Inc.		15,059		301,481
Western Asset Mortgage Capital Corp.		19,929		199,689
				10,523,396
Multi-Utilities—0.5%
Avista Corp.		29,836		1,508,508
Black Hills Corp. (b)		24,293		1,411,180
NorthWestern Corp.		21,883		1,283,657
Unitil Corp.		7,429		378,136
				4,581,481
Multiline Retail—0.3%
Big Lots, Inc.		17,050		712,519
Dillard’s, Inc. - Class A (b)		4,781		364,982
J.C. Penney Co., Inc. (a) (b)		144,731		240,253
Ollie’s Bargain Outlet Holdings, Inc. (a)		21,477		2,063,940
				3,381,694
Oil, Gas & Consumable Fuels—2.9%
Abraxas Petroleum Corp. (a)		36,015		83,915
Alta Mesa Resources, Inc. (a)		40,029		167,321
Arch Coal, Inc. - Class A		8,609		769,645
Bonanza Creek Energy, Inc. (a)		9,142		272,249
California Resources Corp. (a)		20,491		994,428
Callon Petroleum Co. (a) (b)		106,061		1,271,671
Carrizo Oil & Gas, Inc. (a)		37,509		945,227
Clean Energy Fuels Corp. (a)		27,776		72,218
CONSOL Energy, Inc. (a)		13,213		539,223
CVR Energy, Inc.		5,983		240,636
Delek U.S. Holdings, Inc. (b)		35,683		1,514,030
Denbury Resources, Inc. (a) (b)		204,313		1,266,741
DHT Holdings, Inc.		17,546		82,466
Energy Fuels, Inc. (a)		40,972		134,388

BHFTII-221

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Energy XXI Gulf Coast, Inc. (a)		17,463	$	145,991
Evolution Petroleum Corp.		13,703		151,418
Frontline, Ltd. (a) (b)		36,108		209,788
GasLog, Ltd.		20,748		409,773
Golar LNG, Ltd.		40,113		1,115,141
Green Plains, Inc.		17,956		308,843
Gulfport Energy Corp. (a)		80,820		841,336
Halcon Resources Corp. (a) (b)		63,394		283,371
HighPoint Resources Corp. (a)		30,111		146,942
International Seaways, Inc. (a)		9,606		192,312
Jagged Peak Energy, Inc. (a) (b)		28,571		395,137
Laredo Petroleum, Inc. (a)		72,739		594,278
Matador Resources Co. (a) (b)		46,595		1,539,965
Nordic American Tankers, Ltd. (b)		67,672		141,434
Northern Oil and Gas, Inc. (a)		91,303		365,212
Oasis Petroleum, Inc. (a) (b)		124,006		1,758,405
Panhandle Oil and Gas, Inc. - Class A		7,855		144,925
Par Pacific holdings, Inc. (a)		16,282		332,153
PDC Energy, Inc. (a)		28,041		1,372,887
Peabody Energy Corp.		34,338		1,223,806
Penn Virginia Corp. (a)		5,878		473,414
Renewable Energy Group, Inc. (a) (b)		16,294		469,267
Resolute Energy Corp. (a) (b)		11,063		418,292
REX American Resources Corp. (a)		2,989		225,819
Ring Energy, Inc. (a) (b)		28,500		282,435
SandRidge Energy, Inc. (a)		13,335		144,951
Scorpio Tankers, Inc.		134,645		270,636
SemGroup Corp. - Class A (b)		36,615		807,361
Ship Finance International, Ltd. (b)		38,547		535,803
Southwestern Energy Co. (a) (b)		270,546		1,382,490
SRC Energy, Inc. (a) (b)		107,906		959,284
Talos Energy, Inc. (a) (b)		10,507		344,840
Teekay Corp.		29,414		198,250
Tellurian, Inc. (a) (b)		38,940		349,292
Uranium Energy Corp. (a) (b)		78,766		135,478
W&T Offshore, Inc. (a)		35,854		345,633
WildHorse Resource Development Corp. (a)		13,227		312,686
World Fuel Services Corp.		31,238		864,668
				28,547,874
Paper & Forest Products—0.6%
Boise Cascade Co.		18,411		677,525
Clearwater Paper Corp. (a)		7,836		232,729
KapStone Paper and Packaging Corp.		39,372		1,335,104
Louisiana-Pacific Corp.		62,872		1,665,479
Neenah, Inc. (b)		7,745		668,393
PH Glatfelter Co.		21,278		406,623
Schweitzer-Mauduit International, Inc.		12,254		469,451
Verso Corp. - Class A (a)		16,813		566,094
				6,021,398
Personal Products—0.4%
Edgewell Personal Care Co. (a) (b)		24,669		1,140,448
elf Beauty, Inc. (a) (b)		10,888		138,604
Inter Parfums, Inc.		8,191		527,910

Security Description	Shares		Value
Personal Products—(Continued)
Medifast, Inc.		5,370	$	1,189,724
USANA Health Sciences, Inc. (a) (b)		5,606		675,803
				3,672,489
Pharmaceuticals—2.2%
Aclaris Therapeutics, Inc. (a) (b)		13,157		191,040
Aerie Pharmaceuticals, Inc. (a)		16,392		1,008,928
Akcea Therapeutics, Inc. (a)		7,356		257,607
Akorn, Inc. (a)		43,557		565,370
Amneal Pharmaceuticals, Inc. (a) (b)		40,537		899,516
Amphastar Pharmaceuticals, Inc. (a)		18,205		350,264
ANI Pharmaceuticals, Inc. (a) (b)		3,945		223,050
Aratana Therapeutics, Inc. (a)		23,524		137,380
Assembly Biosciences, Inc. (a) (b)		9,765		362,672
Assertio Therapeutics, Inc. (a)		13,565		79,762
Collegium Pharmaceutical, Inc. (a) (b)		14,032		206,832
Corcept Therapeutics, Inc. (a)		43,446		609,113
Cymabay Therapeutics, Inc. (a)		28,178		312,212
Dermira, Inc. (a)		18,139		197,715
Dova Pharmaceuticals, Inc. (a) (b)		6,038		126,617
Eloxx Pharmaceuticals, Inc. (a)		14,403		245,427
Endo International plc (a)		96,815		1,629,397
Endocyte, Inc. (a) (b)		30,890		548,606
Horizon Pharma plc (a)		73,606		1,441,206
Innoviva, Inc. (a)		33,334		508,010
Intersect ENT, Inc. (a)		13,971		401,666
Intra-Cellular Therapies, Inc. (a)		19,606		425,450
Mallinckrodt plc (a) (b)		38,301		1,122,602
Marinus Pharmaceuticals, Inc. (a)		18,675		186,750
Medicines Co. (The) (a) (b)		32,038		958,257
MyoKardia, Inc. (a)		15,152		987,910
Omeros Corp. (a) (b)		21,460		523,839
Optinose, Inc. (a) (b)		8,130		101,056
Pacira Pharmaceuticals, Inc. (a)		18,507		909,619
Paratek Pharmaceuticals, Inc. (a) (b)		16,222		157,353
Phibro Animal Health Corp. - Class A		9,993		428,700
Prestige Brands Holdings, Inc. (a) (b)		22,778		863,059
Reata Pharmaceuticals, Inc. - Class A (a) (b)		8,381		685,231
Revance Therapeutics, Inc. (a) (b)		15,532		385,970
SIGA Technologies, Inc. (a)		22,951		158,132
Supernus Pharmaceuticals, Inc. (a) (b)		22,494		1,132,573
TherapeuticsMD, Inc. (a) (b)		78,988		518,161
Theravance Biopharma, Inc. (a) (b)		19,690		643,272
Tricida, Inc. (a)		8,210		250,816
WAVE Life Sciences, Ltd. (a)		8,571		428,550
Zogenix, Inc. (a)		19,414		962,934
				22,132,624
Professional Services—1.4%
ASGN, Inc. (a)		22,539		1,779,003
Barrett Business Services, Inc.		3,358		224,247
CBIZ, Inc. (a)		24,387		577,972
CRA International, Inc.		2,862		143,730
Exponent, Inc.		23,584		1,264,103
Forrester Research, Inc.		5,782		265,394
FTI Consulting, Inc. (a)		16,848		1,233,105

BHFTII-222

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Professional Services—(Continued)
Heidrick & Struggles International, Inc.		9,634	$	326,111
Huron Consulting Group, Inc. (a)		10,356		511,586
ICF International, Inc.		7,485		564,743
InnerWorkings, Inc. (a)		18,741		148,429
Insperity, Inc.		16,476		1,943,344
Kelly Services, Inc. - Class A		14,944		359,104
Kforce, Inc.		9,613		361,449
Korn/Ferry International		25,738		1,267,339
Mistras Group, Inc. (a)		8,222		178,171
Navigant Consulting, Inc.		21,686		500,079
Resources Connection, Inc.		12,083		200,578
TriNet Group, Inc. (a)		19,326		1,088,440
TrueBlue, Inc. (a)		19,573		509,877
WageWorks, Inc. (a)		18,480		790,020
				14,236,824
Real Estate Management & Development—0.5%
Altisource Portfolio Solutions S.A. (a) (b)		3,645		117,478
Cushman & Wakefield plc (a)		26,156		444,390
Essential Properties Realty Trust, Inc.		23,430		332,472
Forestar Group, Inc. (a) (b)		5,456		115,667
FRP Holdings, Inc. (a)		3,389		210,457
HFF, Inc. - Class A		17,641		749,390
Kennedy-Wilson Holdings, Inc.		56,325		1,210,988
Marcus & Millichap, Inc. (a)		9,235		320,547
Newmark Group, Inc. - Class A		9,665		108,151
RE/MAX Holdings, Inc. - Class A		8,877		393,695
Redfin Corp. (a) (b)		34,295		641,317
RMR Group, Inc. (The) - Class A (b)		3,481		323,037
St. Joe Co. (The) (a) (b)		19,924		334,723
Tejon Ranch Co. (a) (b)		9,079		197,105
				5,499,417
Road & Rail—0.5%
ArcBest Corp.		10,451		507,396
Avis Budget Group, Inc. (a)		29,503		948,226
Covenant Transportation Group, Inc. - Class A (a)		5,776		167,850
Daseke, Inc. (a)		19,836		159,085
Heartland Express, Inc.		22,410		442,149
Hertz Global Holdings, Inc. (a) (b)		26,814		437,873
Marten Transport, Ltd.		19,376		407,865
Saia, Inc. (a)		11,835		904,786
Universal Logistics Holdings, Inc.		4,017		147,826
US Xpress Enterprises, Inc. - Class A (a)		17,067		235,525
Werner Enterprises, Inc. (b)		22,043		779,220
YRC Worldwide, Inc. (a)		14,785		132,769
				5,270,570
Semiconductors & Semiconductor Equipment—2.4%
Advanced Energy Industries, Inc. (a)		17,261		891,531
Ambarella, Inc. (a) (b)		14,056		543,686
Amkor Technology, Inc. (a)		46,149		341,041
Aquantia Corp. (a) (b)		10,607		135,664
Axcelis Technologies, Inc. (a)		13,934		273,803
AXT, Inc. (a) (b)		18,990		135,779

Security Description	Shares		Value
Semiconductors & Semiconductor Equipment—(Continued)
Brooks Automation, Inc.		29,420	$	1,030,583
Cabot Microelectronics Corp. (b)		11,541		1,190,685
Ceva, Inc. (a)		10,183		292,761
Cirrus Logic, Inc. (a)		26,378		1,018,191
Cohu, Inc.		11,848		297,385
Cree, Inc. (a) (b)		43,635		1,652,457
Diodes, Inc. (a)		18,315		609,706
Entegris, Inc.		61,443		1,778,775
FormFactor, Inc. (a) (d)		31,702		435,903
Ichor Holdings, Ltd. (a) (b)		12,029		245,632
Impinj, Inc. (a) (b)		8,561		212,484
Inphi Corp. (a) (b)		19,424		737,724
Integrated Device Technology, Inc. (a)		55,643		2,615,777
Lattice Semiconductor Corp. (a)		55,030		440,240
MACOM Technology Solutions Holdings, Inc. (a) (b)		18,984		391,070
MaxLinear, Inc. (a) (b)		26,699		530,776
Nanometrics, Inc. (a)		9,845		369,384
NeoPhotonics Corp. (a) (b)		16,522		137,133
NVE Corp.		2,605		275,817
Photronics, Inc. (a)		30,362		299,066
Power Integrations, Inc.		11,988		757,642
Rambus, Inc. (a)		49,965		545,118
Rudolph Technologies, Inc. (a)		13,085		319,928
Semtech Corp. (a)		27,797		1,545,513
Silicon Laboratories, Inc. (a)		18,379		1,687,192
SMART Global Holdings, Inc. (a)		4,560		131,054
SunPower Corp. (a) (b)		31,453		229,607
Synaptics, Inc. (a) (b)		14,825		676,316
Ultra Clean Holdings, Inc. (a)		16,793		210,752
Veeco Instruments, Inc. (a) (b)		22,250		228,063
Xcerra Corp. (a)		26,473		377,770
Xperi Corp. (b)		24,436		362,875
				23,954,883
Software—5.2%
8x8, Inc. (a)		41,065		872,631
A10 Networks, Inc. (a)		21,727		132,100
ACI Worldwide, Inc. (a)		49,533		1,393,859
Alarm.com Holdings, Inc. (a)		14,286		820,016
Altair Engineering, Inc. - Class A (a)		13,495		586,358
Alteryx, Inc. - Class A (a)		12,993		743,330
American Software, Inc. - Class A		12,761		154,791
Appfolio, Inc. - Class A (a)		6,877		539,157
Apptio, Inc. - Class A (a)		15,604		576,724
Avalara, Inc. (a)		6,568		229,420
Avaya Holdings Corp. (a)		46,353		1,026,255
Benefitfocus, Inc. (a) (b)		9,362		378,693
Blackbaud, Inc. (b)		20,813		2,112,103
Blackline, Inc. (a)		14,923		842,702
Bottomline Technologies de, Inc. (a)		17,336		1,260,501
Box, Inc. - Class A (a) (b)		53,384		1,276,411
ChannelAdvisor Corp. (a)		10,403		129,517
Cision, Ltd. (a)		24,259		407,551
Cloudera, Inc. (a)		44,625		787,631
CommVault Systems, Inc. (a)		17,956		1,256,920
Cornerstone OnDemand, Inc. (a)		24,008		1,362,454

BHFTII-223

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Software—(Continued)
Coupa Software, Inc. (a)		22,830	$	1,805,853
Digimarc Corp. (a)		3,943		124,007
Ebix, Inc. (b)		10,806		855,295
Ellie Mae, Inc. (a) (b)		14,424		1,366,962
Envestnet, Inc. (a) (b)		20,207		1,231,617
Everbridge, Inc. (a)		12,141		699,807
Five9, Inc. (a)		24,673		1,077,963
ForeScout Technologies, Inc. (a)		13,416		506,588
Hortonworks, Inc. (a)		31,713		723,374
HubSpot, Inc. (a)		15,654		2,362,971
Imperva, Inc. (a)		15,746		731,402
Instructure, Inc. (a) (b)		14,481		512,627
j2 Global, Inc. (b)		19,963		1,653,935
LivePerson, Inc. (a)		24,337		631,545
LiveRamp Holdings, Inc. (a)		34,321		1,695,801
MicroStrategy, Inc. - Class A (a)		4,222		593,698
MINDBODY, Inc. - Class A (a)		20,014		813,569
MobileIron, Inc. (a)		28,325		150,123
Model N, Inc. (a)		11,583		183,591
Monotype Imaging Holdings, Inc.		18,592		375,558
New Relic, Inc. (a)		19,122		1,801,866
OneSpan, Inc. (a) (b)		15,031		286,341
Paylocity Holding Corp. (a)		13,301		1,068,336
Progress Software Corp.		21,029		742,113
PROS Holdings, Inc. (a)		12,910		452,108
Q2 Holdings, Inc. (a)		16,765		1,015,121
QAD, Inc. - Class A		4,798		271,807
Qualys, Inc. (a) (b)		14,838		1,322,066
Rapid7, Inc. (a)		16,703		616,675
SailPoint Technologies Holding, Inc. (a)		23,515		799,980
SendGrid, Inc. (a)		12,940		476,063
ShotSpotter, Inc. (a)		3,603		220,828
SPS Commerce, Inc. (a)		7,550		749,262
Tenable Holdings, Inc. (a)		8,652		336,390
TiVo Corp. (b)		54,357		676,745
Trade Desk, Inc. (The) - Class A (a) (b)		14,265		2,152,731
Upland Software, Inc. (a)		7,503		242,422
Varonis Systems, Inc. (a)		12,721		931,813
Verint Systems, Inc. (a)		28,969		1,451,347
Workiva, Inc. (a)		11,206		442,637
Yext, Inc. (a)		37,385		886,024
Zix Corp. (a)		25,140		139,527
Zscaler, Inc. (a) (b)		5,862		239,052
				52,306,664
Specialty Retail—3.1%
Aaron’s, Inc.		30,071		1,637,667
Abercrombie & Fitch Co. - Class A (b)		28,497		601,857
America’s Car-Mart, Inc. (a)		2,826		220,993
American Eagle Outfitters, Inc.		73,095		1,814,949
Asbury Automotive Group, Inc. (a) (b)		9,029		620,744
Ascena Retail Group, Inc. (a) (b)		80,127		366,180
At Home Group, Inc. (a) (b)		19,716		621,646
Barnes & Noble, Inc.		9,830		57,014
Bed Bath & Beyond, Inc. (b)		61,523		922,845
Boot Barn Holdings, Inc. (a) (b)		12,612		358,307
Specialty Retail—(Continued)
Buckle, Inc. (The) (b)		14,188		327,033
Caleres, Inc.		20,189		723,978
Camping World Holdings, Inc. - Class A (b)		14,592		311,101
Carvana Co. (a) (b)		14,356		848,296
Cato Corp. (The) - Class A		9,562		200,993
Chico’s FAS, Inc. (b)		59,471		515,614
Children’s Place, Inc. (The)		7,101		907,508
Citi Trends, Inc.		4,579		131,738
Conn’s, Inc. (a)		10,289		363,716
DSW, Inc. - Class A		31,615		1,071,116
Express, Inc. (a) (b)		34,677		383,528
Five Below, Inc. (a)		23,446		3,049,387
GameStop Corp. - Class A (b)		46,271		706,558
Genesco, Inc. (a) (b)		8,683		408,969
GNC Holdings, Inc. - Class A (a)		41,490		171,769
Group 1 Automotive, Inc.		7,911		513,424
Guess?, Inc.		25,521		576,775
Haverty Furniture Cos., Inc. (b)		10,391		229,641
Hibbett Sports, Inc. (a) (b)		10,209		191,929
Hudson, Ltd. - Class A (a)		18,056		407,343
Lithia Motors, Inc. - Class A (b)		10,519		858,982
Lumber Liquidators Holdings, Inc. (a) (b)		13,856		214,629
MarineMax, Inc. (a)		12,696		269,790
Monro, Inc.		13,506		940,018
Murphy USA, Inc. (a) (b)		12,944		1,106,194
National Vision Holdings, Inc. (a)		22,276		1,005,539
Office Depot, Inc.		216,434		694,753
Party City Holdco, Inc. (a)		25,796		349,536
Rent-A-Center, Inc. (a)		21,277		305,963
RH (a) (b)		8,668		1,135,595
Sally Beauty Holdings, Inc. (a) (b)		56,288		1,035,136
Shoe Carnival, Inc. (b)		4,114		158,389
Signet Jewelers, Ltd.		25,288		1,667,238
Sleep Number Corp. (a) (b)		14,171		521,209
Sonic Automotive, Inc. - Class A		9,480		183,438
Tailored Brands, Inc. (b)		22,434		565,112
Tile Shop Holdings, Inc.		20,043		143,307
Tilly’s, Inc. - Class A		7,301		138,354
Winmark Corp.		1,140		189,240
Zumiez, Inc. (a)		10,452		275,410
				31,020,450
Technology Hardware, Storage & Peripherals—0.3%
3D Systems Corp. (a) (b)		50,283		950,349
Cray, Inc. (a)		19,290		414,735
Diebold Nixdorf, Inc. (b)		35,435		159,457
Electronics for Imaging, Inc. (a) (b)		18,879		643,396
Immersion Corp. (a)		14,029		148,287
Stratasys, Ltd. (a) (b)		23,667		546,944
USA Technologies, Inc. (a)		23,924		172,253
				3,035,421
Textiles, Apparel & Luxury Goods—0.8%
Crocs, Inc. (a) (d)		31,969		680,620
Culp, Inc.		4,697		113,667
Deckers Outdoor Corp. (a)		13,276		1,574,268

BHFTII-224

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Textiles, Apparel & Luxury Goods—(Continued)
Fossil Group, Inc. (a) (b)		20,656	$	480,872
G-III Apparel Group, Ltd. (a)		18,501		891,563
Movado Group, Inc.		7,984		334,530
Oxford Industries, Inc.		7,657		690,661
Perry Ellis International, Inc. (a)		7,318		200,001
Steven Madden, Ltd.		25,452		1,346,411
Unifi, Inc. (a)		7,892		223,580
Vera Bradley, Inc. (a)		11,248		171,645
Wolverine World Wide, Inc.		41,902		1,636,273
				8,344,091
Thrifts & Mortgage Finance—2.1%
Axos Financial, Inc. (a) (b)		27,157		933,929
Beneficial Bancorp, Inc.		32,692		552,495
BSB Bancorp, Inc. (a)		4,295		140,017
Capitol Federal Financial, Inc.		59,838		762,336
Columbia Financial, Inc. (a)		20,912		349,230
Dime Community Bancshares, Inc. (b)		15,501		276,693
Essent Group, Ltd. (a)		41,392		1,831,596
Federal Agricultural Mortgage Corp. - Class C		4,263		307,703
First Defiance Financial Corp.		10,076		303,388
Flagstar Bancorp, Inc. (a)		12,717		400,204
Hingham Institution for Savings		716		157,384
Home Bancorp, Inc.		3,086		134,179
HomeStreet, Inc. (a)		12,382		328,123
Kearny Financial Corp.		41,863		579,803
LendingTree, Inc. (a) (b)		3,578		823,298
Merchants Bancorp		7,914		201,174
Meridian Bancorp, Inc.		23,292		395,964
Meta Financial Group, Inc.		4,218		348,618
MGIC Investment Corp. (a)		157,311		2,093,809
NMI Holdings, Inc. - Class A (a)		27,711		627,654
Northfield Bancorp, Inc.		19,366		308,307
Northwest Bancshares, Inc.		41,735		722,850
OceanFirst Financial Corp.		22,048		600,147
Ocwen Financial Corp. (a)		24,010		94,599
Oritani Financial Corp.		16,857		262,126
PCSB Financial Corp.		6,336		128,874
PennyMac Financial Services, Inc. - Class A		7,331		153,218
PHH Corp. (a)		15,676		172,279
Provident Financial Services, Inc.		29,105		714,528
Radian Group, Inc.		93,977		1,942,505
Southern Missouri Bancorp, Inc.		3,592		133,874
Sterling Bancorp, Inc.		10,982		124,206
TrustCo Bank Corp.		32,315		274,678
United Community Financial Corp.		24,319		235,165
United Financial Bancorp, Inc.		21,901		368,594
Walker & Dunlop, Inc.		12,545		663,380
Washington Federal, Inc. (b)		37,662		1,205,184
Waterstone Financial, Inc.		10,900		186,935
Western New England Bancorp, Inc.		13,397		144,688
WMIH Corp. (a)		69,426		96,502
WSFS Financial Corp.		14,223		670,614
				20,750,850

Security Description	Shares		Value
Tobacco—0.2%
Turning Point Brands, Inc.		4,000	$	165,840
Universal Corp.		11,709		761,085
Vector Group, Ltd.		41,836		576,501
				1,503,426
Trading Companies & Distributors—1.3%
Aircastle, Ltd.		23,576		516,550
Applied Industrial Technologies, Inc.		16,061		1,256,773
Beacon Roofing Supply, Inc. (a) (b)		31,057		1,123,953
BlueLinx Holdings, Inc. (a) (b)		4,469		140,729
BMC Stock Holdings, Inc. (a)		31,129		580,556
CAI International, Inc. (a)		8,107		185,407
DXP Enterprises, Inc. (a)		6,978		279,608
GATX Corp. (b)		16,296		1,411,071
GMS, Inc. (a)		14,993		347,838
H&E Equipment Services, Inc.		15,412		582,265
Herc Holdings, Inc. (a)		11,071		566,835
Kaman Corp.		11,410		761,960
MRC Global, Inc. (a)		38,704		726,474
Nexeo Solutions, Inc. (a)		13,514		165,546
NOW, Inc. (a) (b)		51,271		848,535
Rush Enterprises, Inc. - Class A		12,945		508,868
SiteOne Landscape Supply, Inc. (a) (b)		16,863		1,270,458
Systemax, Inc.		5,954		196,125
Textainer Group Holdings, Ltd. (a)		11,532		147,610
Titan Machinery, Inc. (a)		9,306		144,103
Triton International, Ltd. (b)		24,043		799,911
Veritiv Corp. (a)		5,727		208,463
				12,769,638
Water Utilities—0.3%
American States Water Co.		16,817		1,028,191
Artesian Resources Corp. - Class A		3,766		138,513
California Water Service Group		22,665		972,329
Connecticut Water Service, Inc.		4,908		340,468
Middlesex Water Co.		7,497		363,005
SJW Group		7,394		452,143
York Water Co. (The)		6,695		203,528
				3,498,177
Wireless Telecommunication Services—0.2%
Boingo Wireless, Inc. (a)		17,390		606,911
Gogo, Inc. (a) (b)		27,687		143,696
NII Holdings, Inc. (a) (b)		41,560		243,542
Shenandoah Telecommunications Co.		20,059		777,286
Spok Holdings, Inc.		4,196		64,618
				1,836,053
Total Common Stocks (Cost $648,122,513)				988,629,801
Mutual Fund—0.9%
Investment Company Security—0.9%
iShares Russell 2000 Index Fund (b) (Cost $8,619,924)		51,200		8,629,760

BHFTII-225

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Rights—0.0%

Security Description	Shares/ Principal Amount*		Value
Biotechnology—0.0%
Tobira Therapeutics, Inc., Expires 12/31/28 (a) (c) (e) (f)		4,660	$	37,093
Chemicals—0.0%
A. Schulman, Inc. (e)		12,704		24,265
Total Rights (Cost $24,544)				61,358
Short-Term Investments—0.3%
Discount Notes—0.1%
Federal Home Loan Bank Zero Coupon, 10/01/18 (g)		150,000		150,000
1.990%, 11/02/18 (g)		250,000		249,522
2.042%, 11/14/18 (g)		125,000		124,671
2.085%, 11/21/18 (g)		200,000		199,391
2.103%, 11/28/18 (g)		675,000		672,662
				1,396,246
U.S. Treasury—0.2%
U.S. Treasury Bills 2.125%, 12/13/18 (g)		250,000		248,924
2.137%, 12/20/18 (g)		1,975,000		1,965,663
				2,214,587
Total Short-Term Investments (Cost $3,610,965)				3,610,833
Securities Lending Reinvestments (h)—25.7%
Bank Note—0.4%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (i)		4,000,000		4,000,000
Certificates of Deposit—10.0%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (i)		2,000,000		1,999,966
Banco Santander S.A. 2.340%, 11/07/18		4,000,000		4,000,328
Bank of Montreal Zero Coupon, 10/31/18		1,995,737		1,996,125
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (i)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (i)		3,000,000		3,002,862
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (i)		5,000,000		4,998,985
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (i)		5,000,000		5,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (i)		1,000,000		1,000,358
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (i)		2,000,000		2,000,150
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		4,000,000		4,000,052
2.500%, 11/15/18		5,000,000		4,999,880

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		5,000,000	$	5,000,010
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		6,947,412		6,948,859
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (i)		3,000,000		2,999,901
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (i)		4,000,000		3,999,684
2.504%, 1M LIBOR + 0.370%, 02/14/19 (i)		2,000,000		2,001,338
2.533%, 3M LIBOR + 0.190%, 02/01/19 (i)		1,500,000		1,500,121
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (i)		8,000,000		7,999,560
2.381%, 1M LIBOR + 0.250%, 01/11/19 (i)		2,000,000		2,000,660
Societe Generale 2.504%, 1M LIBOR + 0.400%, 10/02/18 (i)		1,000,000		999,983
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (i)		10,000,000		9,998,830
2.551%, 1M LIBOR + 0.420%, 10/11/18 (i)		1,000,000		1,000,050
Sumitomo Mitsui Trust Bank, Ltd. 2.290%, 1M LIBOR + 0.170%, 12/06/18 (i)		1,000,000		1,000,052
2.423%, 3M LIBOR + 0.090%, 10/18/18 (i)		3,000,377		2,999,979
2.502%, 1M LIBOR + 0.320%, 11/21/18 (i)		2,000,000		2,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (i)		5,000,000		5,000,595
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (i)		7,000,000		7,000,000
Wells Fargo Bank N.A. 2.475%, 3M LIBOR + 0.140%, 10/26/18 (i)		1,500,000		1,500,249
Westpac Banking Corp. 2.630%, Update Replacements.xls: FEDEFF PRV + 0.450%, 02/15/19 (i)		1,500,000		1,500,797
				100,449,370
Commercial Paper—3.6%
Bank of China, Ltd. 2.510%, 11/02/18		6,955,587		6,984,600
2.550%, 12/20/18		2,980,875		2,982,741
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (i)		3,000,000		3,000,309
2.453%, 1M LIBOR + 0.320%, 02/08/19 (i)		3,000,000		3,001,533
LMA S.A. & LMA Americas 2.470%, 11/13/18		2,963,979		2,991,327
Sheffield Receivables Co. 2.490%, 11/26/18		2,960,783		2,988,477
2.510%, Update Replacements.xls: SOFR + 0.350%, 11/28/18 (i)		1,000,000		1,000,274
Starbird Funding Corp. 2.280%, 11/08/18		2,982,900		2,992,338
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (i)		5,000,000		5,004,615
Westpac Banking Corp. 2.408%, 3M LIBOR + 0.070%, 08/07/19 (i)		3,000,000		3,000,000
2.492%, 1M LIBOR + 0.280%, 05/24/19 (i)		2,000,000		2,001,108
				35,947,322

BHFTII-226

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—8.8%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $4,042,022; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $4,217,144.		4,000,000	$	4,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $1,007,139; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $52,663; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $51,000.		50,000		50,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $2,700,504; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $2,754,002.		2,700,000		2,700,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $3,000,560; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $3,060,000.		3,000,000		3,000,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $2,445,227; collateralized by various Common Stock with an aggregate market value of $2,671,974.		2,400,000		2,400,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $2,610,312; collateralized by various Common Stock with an aggregate market value of $2,889,239.		2,600,000		2,600,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $116,186; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $118,397.		116,164		116,164
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $3,710,498; collateralized by various Common Stock with an aggregate market value of $3,850,000.		3,500,000		3,500,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $2,078,124; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000	$	20,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $4,691,195; collateralized by various Common Stock with an aggregate market value of $5,118,214.		4,600,000		4,600,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $4,254,327; collateralized by various Common Stock with an aggregate market value of $4,673,152.		4,200,000		4,200,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $2,010,402; collateralized by various Common Stock with an aggregate market value of $2,225,488.		2,000,000		2,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $3,015,405; collateralized by various Common Stock with an aggregate market value of $3,338,232.		3,000,000		3,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $5,573,054; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $6,108,566.		5,500,000		5,500,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $6,684,277; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,330,279.		6,600,000		6,600,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $4,049,793; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,442,594.		4,000,000		4,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $6,881,594; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,552,409.		6,800,000		6,800,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $3,419,227; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,776,205.		3,400,000		3,400,000

BHFTII-227

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $2,022,100; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000	$	2,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $4,543,290; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,997,918.		4,500,000		4,500,000
				87,966,164
Time Deposits—2.9%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		10,000,000		10,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		10,000,000		10,000,000
DZ Bank AG 2.150%, 10/01/18		2,000,000		2,000,000
Erste Group Bank AG 2.170%, 10/01/18		2,750,000		2,750,000
Nordea Bank New York 2.140%, 10/01/18		2,000,000		2,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		2,000,000		2,000,000
				28,750,000
Total Securities Lending Reinvestments (Cost $257,100,910)				257,112,856
Total Investments—125.6% (Cost $917,478,856)				1,258,044,608
Other assets and liabilities (net)—(25.6)%				(256,224,905	)
Net Assets—100.0%			$	1,001,819,703

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $249,545,496 and the collateral received consisted of cash in the amount of $257,003,814. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent less than 0.05% of net assets.
(d)	All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2018, the market value of securities pledged was $3,215,992.
(e)	Illiquid security. As of September 30, 2018, these securities represent 0.0% of net assets.
(f)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(g)	The rate shown represents current yield to maturity.
(h)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(i)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
Russell 2000 Index Mini Futures		12/21/18		42		USD	3,571,680	$	(58,756	)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

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

Other Abbreviations

(REIT)— Real Estate Investment Trust

BHFTII-228

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	13,953,380	$	—	$	—	$	13,953,380
Air Freight & Logistics		3,266,582		—		—		3,266,582
Airlines		4,337,516		—		—		4,337,516
Auto Components		10,203,927		—		—		10,203,927
Automobiles		496,156		—		—		496,156
Banks		92,439,281		—		—		92,439,281
Beverages		2,813,207		—		—		2,813,207
Biotechnology		65,266,461		—		—		65,266,461
Building Products		13,114,765		—		—		13,114,765
Capital Markets		12,333,879		—		—		12,333,879
Chemicals		20,125,954		—		—		20,125,954
Commercial Services & Supplies		25,264,312		—		—		25,264,312
Communications Equipment		15,609,273		—		—		15,609,273
Construction & Engineering		10,109,478		—		—		10,109,478
Construction Materials		1,263,624		—		—		1,263,624
Consumer Finance		7,056,281		—		—		7,056,281
Containers & Packaging		1,122,416		—		—		1,122,416
Distributors		737,068		—		—		737,068
Diversified Consumer Services		8,330,486		—		—		8,330,486
Diversified Financial Services		1,675,049		—		—		1,675,049
Diversified Telecommunication Services		6,000,914		—		—		6,000,914
Electric Utilities		9,927,736		—		—		9,927,736
Electrical Equipment		6,753,064		—		—		6,753,064
Electronic Equipment, Instruments & Components		22,891,701		—		—		22,891,701
Energy Equipment & Services		18,984,357		—		—		18,984,357
Entertainment		5,907,548		—		—		5,907,548
Equity Real Estate Investment Trusts		63,555,010		—		—		63,555,010
Food & Staples Retailing		6,308,169		—		—		6,308,169
Food Products		10,025,516		—		—		10,025,516
Gas Utilities		9,771,266		—		—		9,771,266
Health Care Equipment & Supplies		38,714,502		—		—		38,714,502
Health Care Providers & Services		19,376,567		—		—		19,376,567
Health Care Technology		11,341,962		—		—		11,341,962
Hotels, Restaurants & Leisure		29,583,091		—		—		29,583,091
Household Durables		14,733,997		—		—		14,733,997
Household Products		1,770,584		—		—		1,770,584
Independent Power and Renewable Electricity Producers		2,894,119		—		—		2,894,119
Industrial Conglomerates		727,334		—		—		727,334
Insurance		26,305,275		—		—		26,305,275
Interactive Media & Services		5,882,840		—		—		5,882,840

BHFTII-229

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Internet & Direct Marketing Retail	$	9,664,967		$	—		$	—	$	9,664,967
IT Services		19,900,493			—			—		19,900,493
Leisure Products		4,133,827			—			—		4,133,827
Life Sciences Tools & Services		5,205,723			—			—		5,205,723
Machinery		38,904,671			—			—		38,904,671
Marine		1,261,224			—			—		1,261,224
Media		12,825,181			—			—		12,825,181
Metals & Mining		12,870,988			660			—		12,871,648
Mortgage Real Estate Investment Trusts		10,523,396			—			—		10,523,396
Multi-Utilities		4,581,481			—			—		4,581,481
Multiline Retail		3,381,694			—			—		3,381,694
Oil, Gas & Consumable Fuels		28,547,874			—			—		28,547,874
Paper & Forest Products		6,021,398			—			—		6,021,398
Personal Products		3,672,489			—			—		3,672,489
Pharmaceuticals		22,132,624			—			—		22,132,624
Professional Services		14,236,824			—			—		14,236,824
Real Estate Management & Development		5,499,417			—			—		5,499,417
Road & Rail		5,270,570			—			—		5,270,570
Semiconductors & Semiconductor Equipment		23,954,883			—			—		23,954,883
Software		52,306,664			—			—		52,306,664
Specialty Retail		31,020,450			—			—		31,020,450
Technology Hardware, Storage & Peripherals		3,035,421			—			—		3,035,421
Textiles, Apparel & Luxury Goods		8,344,091			—			—		8,344,091
Thrifts & Mortgage Finance		20,750,850			—			—		20,750,850
Tobacco		1,503,426			—			—		1,503,426
Trading Companies & Distributors		12,769,638			—			—		12,769,638
Water Utilities		3,498,177			—			—		3,498,177
Wireless Telecommunication Services		1,836,053			—			—		1,836,053
Total Common Stocks		988,629,141			660			—		988,629,801
Total Mutual Fund*		8,629,760			—			—		8,629,760
Rights
Biotechnology		—			—			37,093		37,093
Chemicals		—			24,265			—		24,265
Total Rights		—			24,265			37,093		61,358
Total Short-Term Investments*		—			3,610,833			—		3,610,833
Total Securities Lending Reinvestments*		—			257,112,856			—		257,112,856
Total Investments	$	997,258,901		$	260,748,614		$	37,093	$	1,258,044,608
Collateral for Securities Loaned (Liability)	$	—		$	(257,003,814	)	$	—	$	(257,003,814	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(58,756	)	$	—		$	—	$	(58,756	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2018 is not presented.

BHFTII-230

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—59.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.3%
Boeing Co. (The)		13,281	$	4,939,204
Harris Corp.		6,198		1,048,763
Lockheed Martin Corp.		13,166		4,554,909
Northrop Grumman Corp.		9,189		2,916,313
United Technologies Corp.		37,128		5,190,866
				18,650,055
Air Freight & Logistics—0.2%
United Parcel Service, Inc. - Class B		17,471		2,039,739
Airlines—0.2%
Delta Air Lines, Inc.		21,176		1,224,608
Auto Components—0.6%
Aptiv plc		24,585		2,062,681
Garrett Motion, Inc. (a)		2,971		54,958
Lear Corp.		16,368		2,373,360
				4,490,999
Automobiles—0.2%
Harley-Davidson, Inc.		5,121		231,981
Toyota Motor Corp.		23,000		1,426,961
				1,658,942
Banks—5.9%
Bank of America Corp.		207,588		6,115,543
BNP Paribas S.A.		8,824		539,285
Citigroup, Inc.		119,646		8,583,404
JPMorgan Chase & Co.		133,962		15,116,272
PNC Financial Services Group, Inc. (The)		33,192		4,520,419
Royal Bank of Canada		10,726		859,807
Sumitomo Mitsui Financial Group, Inc.		11,200		452,046
SunTrust Banks, Inc. (b)		14,355		958,770
U.S. Bancorp		105,387		5,565,487
Wells Fargo & Co.		93,662		4,922,875
Westpac Banking Corp.		40,154		808,688
				48,442,596
Beverages—0.7%
Coca-Cola European Partners plc		18,750		852,563
Diageo plc		85,759		3,037,100
Molson Coors Brewing Co. - Class B		12,120		745,380
PepsiCo, Inc.		7,108		794,674
				5,429,717
Biotechnology—0.1%
Biogen, Inc. (a)		2,445		863,843
Building Products—0.6%
Johnson Controls International plc (b)		136,403		4,774,105
Capital Markets—3.5%
Apollo Global Management LLC - Class A		59,188		2,044,946
Bank of New York Mellon Corp. (The)		97,690		4,981,213
BlackRock, Inc.		6,463		3,046,206

Security Description	Shares		Value
Capital Markets—(Continued)
Blackstone Group L.P. (The)		38,538	$	1,467,527
Charles Schwab Corp. (The)		18,441		906,375
Goldman Sachs Group, Inc. (The)		26,867		6,024,656
Invesco, Ltd. (b)		21,973		502,742
Moody’s Corp.		7,094		1,186,117
Morgan Stanley		36,495		1,699,572
Nasdaq, Inc. (b)		20,088		1,723,551
State Street Corp.		37,240		3,119,967
T. Rowe Price Group, Inc.		17,852		1,949,081
				28,651,953
Chemicals—1.6%
Axalta Coating Systems, Ltd. (a)		44,179		1,288,260
Celanese Corp.		13,196		1,504,344
DowDuPont, Inc.		27,718		1,782,544
PPG Industries, Inc.		52,191		5,695,604
Sherwin-Williams Co. (The)		6,495		2,956,589
				13,227,341
Commercial Services & Supplies—0.1%
Transcontinental, Inc. - Class A		39,704		703,923
Communications Equipment—0.7%
Cisco Systems, Inc.		116,096		5,648,070
Consumer Finance—0.6%
American Express Co.		17,585		1,872,627
Discover Financial Services		25,743		1,968,052
Synchrony Financial		20,951		651,157
				4,491,836
Containers & Packaging—0.2%
Crown Holdings, Inc. (a) (b)		27,035		1,297,680
Diversified Financial Services—0.1%
ORIX Corp.		50,200		813,807
Diversified Telecommunication Services—0.5%
AT&T, Inc.		10,295		345,706
Verizon Communications, Inc.		64,287		3,432,283
				3,777,989
Electric Utilities—1.8%
American Electric Power Co., Inc.		12,703		900,389
Duke Energy Corp.		47,181		3,775,423
Exelon Corp.		91,921		4,013,271
PPL Corp.		72,061		2,108,505
Southern Co. (The) (b)		51,417		2,241,781
SSE plc		84,536		1,262,040
Xcel Energy, Inc.		13,806		651,781
				14,953,190
Electrical Equipment—0.9%
Eaton Corp. plc		77,215		6,696,857
Regal-Beloit Corp. (b)		5,248		432,698

BHFTII-231

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electrical Equipment—(Continued)
Schneider Electric SE		5,319	$	427,927
				7,557,482
Energy Equipment & Services—0.4%
Schlumberger, Ltd.		53,699		3,271,343
Entertainment—0.1%
Electronic Arts, Inc. (a)		4,224		508,950
Equity Real Estate Investment Trusts—1.1%
Extra Space Storage, Inc.		14,462		1,252,988
Life Storage, Inc.		8,566		815,140
Medical Properties Trust, Inc. (b)		197,643		2,946,857
Public Storage		2,862		577,065
Simon Property Group, Inc. (b)		6,957		1,229,650
STORE Capital Corp. (b)		75,673		2,102,953
				8,924,653
Food & Staples Retailing—0.2%
Kroger Co. (The) (b)		20,831		606,391
U.S. Foods Holding Corp. (a)		23,971		738,786
				1,345,177
Food Products—2.0%
Archer-Daniels-Midland Co.		40,769		2,049,458
Danone S.A.		20,634		1,597,414
General Mills, Inc.		71,010		3,047,749
J.M. Smucker Co. (The) (b)		5,826		597,806
Marine Harvest ASA		66,850		1,548,647
Mondelez International, Inc. - Class A		20,312		872,603
Nestle S.A.		45,425		3,784,179
Tyson Foods, Inc. - Class A		43,780		2,606,223
				16,104,079
Health Care Equipment & Supplies—2.4%
Abbott Laboratories		72,035		5,284,488
Danaher Corp.		56,089		6,094,631
Medtronic plc		71,035		6,987,713
Zimmer Biomet Holdings, Inc. (b)		10,873		1,429,473
				19,796,305
Health Care Providers & Services—2.0%
AmerisourceBergen Corp.		11,183		1,031,296
Cigna Corp.		17,614		3,668,116
CVS Health Corp.		26,131		2,057,032
Express Scripts Holding Co. (a)		11,756		1,116,938
HCA Healthcare, Inc.		21,529		2,995,114
Humana, Inc.		11,280		3,818,506
McKesson Corp.		13,666		1,812,795
				16,499,797
Hotels, Restaurants & Leisure—0.3%
Aramark		25,202		1,084,190
Marriott International, Inc. - Class A		6,080		802,743
Hotels, Restaurants & Leisure—(Continued)
Starbucks Corp. (b)		10,710		608,756
				2,495,689
Household Durables—0.5%
Newell Brands, Inc. (b)		86,425		1,754,427
PulteGroup, Inc. (b)		28,062		695,096
Whirlpool Corp.		12,590		1,495,063
				3,944,586
Household Products—0.6%
Colgate-Palmolive Co.		4,927		329,863
Kimberly-Clark Corp.		25,000		2,841,000
Procter & Gamble Co. (The)		4,545		378,280
Reckitt Benckiser Group plc		18,019		1,646,113
				5,195,256
Industrial Conglomerates—1.3%
3M Co.		16,034		3,378,524
Honeywell International, Inc.		44,687		7,373,355
				10,751,879
Insurance—3.3%
Aon plc		33,479		5,148,401
Chubb, Ltd. (b)		46,291		6,186,329
Prudential Financial, Inc.		46,924		4,754,340
Tokio Marine Holdings, Inc.		8,900		441,629
Travelers Cos., Inc. (The)		59,190		7,677,535
Unum Group (b)		23,820		930,647
Zurich Insurance Group AG		6,446		2,035,443
				27,174,324
Interactive Media & Services—0.7%
Alphabet, Inc. - Class A (a)		2,009		2,425,024
Facebook, Inc. - Class A (a)		18,735		3,081,158
				5,506,182
Internet & Direct Marketing Retail—0.6%
Amazon.com, Inc. (a)		2,596		5,199,788
IT Services—2.6%
Accenture plc - Class A		43,978		7,485,056
Amdocs, Ltd.		21,111		1,392,904
Cognizant Technology Solutions Corp. - Class A		8,505		656,161
DXC Technology Co.		61,347		5,737,171
Fidelity National Information Services, Inc.		17,494		1,908,071
Fiserv, Inc. (a)		20,685		1,704,030
Visa, Inc. - Class A (b)		9,169		1,376,175
Worldpay, Inc. - Class A (a)		11,681		1,182,935
				21,442,503
Life Sciences Tools & Services—0.8%
Thermo Fisher Scientific, Inc.		28,035		6,842,783
Machinery—1.1%
AGCO Corp. (b)		13,151		799,449

BHFTII-232

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Machinery—(Continued)
Allison Transmission Holdings, Inc. (b)		6,511	$	338,637
Deere & Co.		6,844		1,028,859
Illinois Tool Works, Inc.		25,733		3,631,441
Ingersoll-Rand plc		14,375		1,470,562
Stanley Black & Decker, Inc.		13,634		1,996,563
				9,265,511
Media—1.8%
Comcast Corp. - Class A		300,643		10,645,769
Interpublic Group of Cos., Inc. (The) (b)		55,198		1,262,378
Omnicom Group, Inc. (b)		36,052		2,452,257
				14,360,404
Metals & Mining—0.3%
Rio Tinto plc		44,778		2,259,145
Mortgage Real Estate Investment Trusts—0.1%
Annaly Capital Management, Inc. (b)		78,350		801,520
Multi-Utilities—0.5%
Engie S.A.		56,588		831,218
Public Service Enterprise Group, Inc.		23,353		1,232,805
Sempra Energy (b)		9,373		1,066,179
WEC Energy Group, Inc. (b)		12,381		826,555
				3,956,757
Multiline Retail—0.0%
Kohl’s Corp. (b)		5,459		406,968
Oil, Gas & Consumable Fuels—3.6%
Anadarko Petroleum Corp.		20,765		1,399,769
BP plc		347,281		2,664,456
Chevron Corp.		25,346		3,099,309
Eni S.p.A.		74,270		1,400,755
Enterprise Products Partners L.P.		108,496		3,117,090
EOG Resources, Inc.		26,920		3,434,184
EQT Corp. (b)		14,672		648,943
EQT Midstream Partners LP		12,152		641,383
Exxon Mobil Corp.		40,336		3,429,367
Hess Corp.		18,034		1,290,874
Marathon Petroleum Corp. (b)		11,752		939,807
MPLX L.P.		22,183		769,306
Noble Energy, Inc. (b)		27,685		863,495
Occidental Petroleum Corp.		14,991		1,231,810
Phillips 66		11,519		1,298,422
Pioneer Natural Resources Co.		5,612		977,554
Plains All American Pipeline L.P.		42,417		1,060,849
Plains GP Holdings L.P. - Class A (a)		47,291		1,160,048
				29,427,421
Personal Products—0.1%
Coty, Inc. - Class A (b)		46,182		580,046
Pharmaceuticals—4.4%
Bayer AG		24,649		2,189,654
Pharmaceuticals—(Continued)
Bristol-Myers Squibb Co.		63,295		3,929,354
Eli Lilly & Co.		36,982		3,968,539
Johnson & Johnson		67,766		9,363,228
Merck & Co., Inc.		22,734		1,612,750
Mylan NV (a)		20,052		733,903
Novartis AG		13,004		1,120,404
Pfizer, Inc.		255,952		11,279,805
Roche Holding AG		6,796		1,644,491
				35,842,128
Professional Services—0.2%
Equifax, Inc.		13,495		1,762,042
Road & Rail—1.2%
Canadian National Railway Co.		11,117		998,307
Union Pacific Corp.		53,553		8,720,035
				9,718,342
Semiconductors & Semiconductor Equipment—1.4%
Analog Devices, Inc.		6,986		645,926
Intel Corp.		30,889		1,460,741
Marvell Technology Group, Ltd.		43,755		844,471
Maxim Integrated Products, Inc.		21,662		1,221,520
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		72,403		3,197,316
Texas Instruments, Inc.		41,388		4,440,519
				11,810,493
Software—1.8%
Adobe Systems, Inc. (a)		19,032		5,137,688
Check Point Software Technologies, Ltd. (a)		8,673		1,020,552
Microsoft Corp.		65,289		7,467,103
Oracle Corp.		28,636		1,476,472
				15,101,815
Specialty Retail—0.4%
Best Buy Co., Inc. (b)		11,445		908,275
Tractor Supply Co.		12,282		1,116,188
Urban Outfitters, Inc. (a) (b)		21,163		865,567
				2,890,030
Technology Hardware, Storage & Peripherals—0.7%
Apple, Inc.		14,279		3,223,341
Hewlett Packard Enterprise Co. (b)		33,451		545,586
Samsung Electronics Co., Ltd.		16,392		559,027
Seagate Technology plc (b)		13,342		631,744
Western Digital Corp. (b)		9,103		532,890
				5,492,588
Textiles, Apparel & Luxury Goods—0.4%
Hanesbrands, Inc. (b)		34,874		642,728
LVMH Moet Hennessy Louis Vuitton SE		3,367		1,188,770
NIKE, Inc. - Class B		16,915		1,433,039
				3,264,537

BHFTII-233

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Tobacco—1.9%
Altria Group, Inc.		80,961	$	4,882,758
Japan Tobacco, Inc.		26,400		689,229
Philip Morris International, Inc. (b)		123,542		10,073,615
				15,645,602
Trading Companies & Distributors—0.0%
HD Supply Holdings, Inc. (a)		8,439		361,105
Total Common Stocks (Cost $365,384,508)				486,647,623
U.S. Treasury & Government Agencies—24.7%
Agency Sponsored Mortgage-Backed—11.9%
Fannie Mae 15 Yr. Pool 2.500%, TBA (c)		1,000,000		964,844
3.000%, 12/01/31		1,220,096		1,206,422
3.000%, TBA (c)		1,100,000		1,085,799
4.500%, 03/01/19		2,743		2,777
4.500%, 06/01/19		3,997		4,046
4.500%, 04/01/20		7,438		7,529
4.500%, 07/01/20		3,605		3,650
5.000%, 12/01/18		2,085		2,148
5.000%, 07/01/19		9,548		9,835
5.000%, 07/01/20		9,082		9,356
5.000%, 08/01/20		8,922		9,194
5.000%, 12/01/20		21,892		22,551
5.500%, 06/01/19		8,611		8,639
5.500%, 07/01/19		10,701		10,736
5.500%, 08/01/19		1,931		1,937
5.500%, 09/01/19		10,913		10,953
5.500%, 01/01/21		9,913		10,017
5.500%, 03/01/21		3,573		3,614
6.000%, 11/01/18		43		43
6.000%, 01/01/21		17,228		17,431
6.000%, 05/01/21		5,205		5,244
Fannie Mae 20 Yr. Pool 3.000%, 07/01/37		266,187		258,523
3.000%, 11/01/37		513,898		498,785
3.500%, 04/01/38		484,132		481,917
Fannie Mae 30 Yr. Pool 3.000%, 09/01/46		204,268		195,977
3.000%, 10/01/46		801,870		769,302
3.000%, 11/01/46		1,027,118		985,413
3.000%, TBA (c)		1,100,000		1,052,618
3.500%, 11/01/41		51,084		50,673
3.500%, 01/01/42		644,668		639,477
3.500%, 01/01/43		224,687		222,880
3.500%, 04/01/43		737,553		731,635
3.500%, 05/01/43		974,056		965,939
3.500%, 07/01/43		1,107,046		1,096,872
3.500%, 08/01/43		372,913		369,910
3.500%, 09/01/43		1,527,789		1,514,163
3.500%, 02/01/45		1,111,686		1,099,290

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
3.500%, 09/01/45		1,296,047	$	1,280,992
3.500%, 10/01/45		895,050		884,652
3.500%, 01/01/46		285,594		282,277
3.500%, 05/01/46		532,152		525,760
3.500%, 07/01/46		1,170,009		1,155,572
3.500%, 10/01/46		363,680		359,088
3.500%, 12/01/46		952,095		939,658
3.500%, 01/01/47		137,351		135,510
3.500%, 08/01/48		697,640		686,961
4.000%, 09/01/40		1,114,298		1,133,642
4.000%, 11/01/40		256,151		260,604
4.000%, 12/01/40		590,770		601,022
4.000%, 02/01/41		689,270		701,496
4.000%, 06/01/41		684,301		696,178
4.000%, 11/01/41		228,719		232,696
4.000%, 01/01/42		1,632,247		1,660,618
4.000%, 04/01/42		208,554		212,309
4.000%, 10/01/42		177,481		180,677
4.000%, 12/01/42		200,870		204,486
4.000%, 01/01/43		333,279		339,145
4.000%, 04/01/43		59,930		60,971
4.000%, 05/01/43		665,485		677,206
4.000%, 06/01/43		296,314		301,463
4.000%, 07/01/43		280,819		285,028
4.000%, 01/01/44		125,586		127,834
4.000%, 04/01/44		136,599		138,972
4.000%, 05/01/44		506,788		515,596
4.000%, 11/01/44		246,406		249,356
4.000%, 02/01/45		382,887		390,206
4.000%, 06/01/47		1,055,269		1,066,247
4.000%, 10/01/48		1,600,000		1,616,424
4.500%, 08/01/33		132,351		137,069
4.500%, 03/01/34		411,751		427,160
4.500%, 01/01/40		147,694		153,724
4.500%, 08/01/40		34,828		36,246
4.500%, 02/01/41		243,343		253,250
4.500%, 04/01/41		415,534		432,400
4.500%, 11/01/42		131,395		136,738
4.500%, 01/01/43		306,673		319,128
4.500%, 04/01/44		1,771,305		1,843,375
4.500%, 06/01/44		178,830		186,104
5.000%, 11/01/33		79,058		83,943
5.000%, 03/01/34		66,054		70,258
5.000%, 05/01/34		28,868		30,649
5.000%, 08/01/34		27,485		29,176
5.000%, 09/01/34		104,457		110,908
5.000%, 06/01/35		67,594		71,727
5.000%, 07/01/35		206,755		219,405
5.000%, 08/01/35		67,876		72,078
5.000%, 09/01/35		44,928		47,721
5.000%, 10/01/35		181,727		192,991
5.000%, 07/01/39		191,356		203,067
5.000%, 10/01/39		119,583		127,174
5.000%, 11/01/39		55,929		59,511

BHFTII-234

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.000%, 11/01/40		79,031	$	83,958
5.000%, 01/01/41		18,452		19,378
5.000%, 03/01/41		46,818		49,805
5.500%, 02/01/33		34,931		37,692
5.500%, 05/01/33		4,430		4,741
5.500%, 06/01/33		145,304		157,162
5.500%, 07/01/33		127,086		137,253
5.500%, 11/01/33		78,179		84,458
5.500%, 12/01/33		11,708		12,500
5.500%, 01/01/34		102,253		109,897
5.500%, 02/01/34		121,468		130,981
5.500%, 03/01/34		34,595		37,584
5.500%, 04/01/34		46,271		49,466
5.500%, 05/01/34		246,249		267,296
5.500%, 06/01/34		276,621		299,861
5.500%, 07/01/34		100,821		108,823
5.500%, 09/01/34		251,853		269,757
5.500%, 10/01/34		367,391		397,581
5.500%, 11/01/34		538,580		584,100
5.500%, 12/01/34		242,459		262,824
5.500%, 01/01/35		285,494		309,538
5.500%, 02/01/35		6,712		7,166
5.500%, 04/01/35		51,879		56,245
5.500%, 07/01/35		16,948		18,095
5.500%, 08/01/35		7,663		8,182
5.500%, 09/01/35		165,862		180,187
6.000%, 02/01/32		69,018		74,602
6.000%, 03/01/34		24,768		27,324
6.000%, 04/01/34		194,383		212,895
6.000%, 06/01/34		209,031		230,000
6.000%, 07/01/34		171,026		187,890
6.000%, 08/01/34		219,554		240,167
6.000%, 10/01/34		153,653		169,044
6.000%, 11/01/34		32,107		34,698
6.000%, 12/01/34		8,445		9,121
6.000%, 08/01/35		30,816		33,452
6.000%, 09/01/35		38,082		42,103
6.000%, 10/01/35		63,397		69,272
6.000%, 11/01/35		8,982		9,703
6.000%, 12/01/35		78,205		85,793
6.000%, 02/01/36		73,213		79,139
6.000%, 04/01/36		57,971		63,048
6.000%, 06/01/36		8,667		9,579
6.000%, 07/01/37		101,427		111,902
6.500%, 06/01/31		27,324		30,189
6.500%, 07/01/31		3,881		4,255
6.500%, 09/01/31		24,096		26,417
6.500%, 02/01/32		14,473		15,945
6.500%, 07/01/32		72,796		81,017
6.500%, 08/01/32		55,269		61,650
6.500%, 01/01/33		30,535		33,897
6.500%, 04/01/34		48,760		53,952
6.500%, 06/01/34		22,016		24,137
6.500%, 08/01/34		15,617		17,121
6.500%, 04/01/36		11,742		12,873

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
6.500%, 05/01/36		45,306	$	49,671
6.500%, 02/01/37		65,876		72,223
6.500%, 05/01/37		31,386		34,410
6.500%, 07/01/37		49,941		55,179
Fannie Mae Multifamily REMIC Trust (CMO) 2.409%, 1M LIBOR + 0.340%, 04/25/20 (d)		54,641		54,608
Fannie Mae Pool 2.280%, 11/01/26		154,862		143,661
2.410%, 05/01/23		90,247		87,286
2.550%, 05/01/23		144,901		140,976
2.700%, 07/01/25		121,000		116,038
4.600%, 09/01/19		124,572		126,195
5.000%, 03/01/26		82,966		88,241
Fannie Mae REMICS (CMO) 2.000%, 05/25/44		193,638		183,331
Fannie Mae-ACES (CMO) 2.683%, 12/25/26 (d)		511,000		476,818
Freddie Mac 15 Yr. Gold Pool 4.500%, 11/01/18		964		976
4.500%, 01/01/19		2,219		2,247
4.500%, 08/01/19		698		707
4.500%, 02/01/20		7,035		7,122
4.500%, 08/01/24		151,176		156,314
5.500%, 01/01/19		687		688
5.500%, 04/01/19		972		973
5.500%, 06/01/19		547		547
5.500%, 07/01/19		174		174
5.500%, 08/01/19		514		515
5.500%, 02/01/20		1,108		1,115
6.000%, 08/01/19		7,434		7,471
6.000%, 09/01/19		1,663		1,664
6.000%, 11/01/19		2,749		2,757
6.000%, 05/01/21		6,231		6,322
6.000%, 10/01/21		21,647		22,003
Freddie Mac 20 Yr. Gold Pool 3.500%, 05/01/38		169,733		168,949
4.000%, 08/01/37		113,881		116,314
Freddie Mac 30 Yr. Gold Pool 3.000%, 10/01/42		547,716		528,606
3.000%, 04/01/43		1,207,132		1,165,109
3.000%, 05/01/43		1,057,602		1,020,849
3.000%, 05/01/46		536,658		514,716
3.000%, 10/01/46		1,008,698		967,453
3.000%, 11/01/46		1,938,041		1,858,123
3.000%, 03/01/48		486,296		465,500
3.000%, 09/01/48		149,984		143,597
3.500%, 02/01/42		522,621		518,293
3.500%, 04/01/42		338,309		335,911
3.500%, 12/01/42		813,740		806,975
3.500%, 04/01/43		238,632		236,645
3.500%, 07/01/43		48,470		48,066
3.500%, 08/01/43		516,988		512,682
3.500%, 12/01/45		522,564		515,622
3.500%, 11/01/46		414,170		408,010
3.500%, 12/01/46		2,026,527		1,996,385

BHFTII-235

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
3.500%, 01/01/47		1,413,030	$	1,391,958
3.500%, TBA (c)		800,000		787,156
4.000%, 11/01/40		616,240		627,691
4.000%, 01/01/41		1,291,130		1,315,139
4.000%, 04/01/44		414,583		419,823
4.000%, 08/01/47		1,189,830		1,202,683
4.000%, 08/01/48		794,061		802,234
4.000%, 10/01/48		425,000		429,374
4.500%, 04/01/35		36,137		37,475
4.500%, 07/01/39		204,027		212,587
4.500%, 09/01/39		114,737		119,709
4.500%, 10/01/39		66,000		68,853
4.500%, 12/01/39		101,434		105,828
4.500%, 05/01/42		180,842		188,687
5.000%, 09/01/33		157,654		166,804
5.000%, 03/01/34		33,552		35,715
5.000%, 04/01/34		28,097		29,719
5.000%, 08/01/35		35,213		37,273
5.000%, 10/01/35		79,853		84,773
5.000%, 11/01/35		63,983		67,681
5.000%, 12/01/36		43,481		46,168
5.000%, 07/01/39		319,768		339,570
5.500%, 12/01/33		189,804		207,946
5.500%, 01/01/34		125,617		136,148
5.500%, 04/01/34		27,935		29,865
5.500%, 11/01/34		23,601		25,331
5.500%, 12/01/34		9,097		9,694
5.500%, 05/01/35		24,697		26,385
5.500%, 09/01/35		31,791		34,087
5.500%, 10/01/35		42,414		45,621
6.000%, 04/01/34		96,187		105,814
6.000%, 07/01/34		27,050		29,583
6.000%, 08/01/34		199,922		220,953
6.000%, 09/01/34		2,502		2,719
6.000%, 07/01/35		33,047		36,372
6.000%, 08/01/35		41,170		45,544
6.000%, 11/01/35		64,294		71,134
6.000%, 03/01/36		21,348		23,204
6.000%, 10/01/36		34,412		38,046
6.000%, 03/01/37		7,516		8,169
6.000%, 05/01/37		57,801		63,785
6.000%, 06/01/37		39,096		43,238
6.500%, 05/01/34		12,379		13,695
6.500%, 06/01/34		60,385		66,802
6.500%, 08/01/34		50,785		56,181
6.500%, 10/01/34		61,983		69,177
6.500%, 11/01/34		42,255		46,745
6.500%, 05/01/37		60,555		66,991
6.500%, 07/01/37		59,852		66,599
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 0.325%, 11/25/27 (d) (e)		5,207,000		96,205
0.370%, 12/25/27 (d) (e)		3,235,000		71,822
0.401%, 11/25/24 (d) (e)		4,908,000		83,942
0.406%, 09/25/27 (d) (e)		3,341,000		82,223
0.413%, 12/25/27 (d) (e)		3,579,000		91,226

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
0.420%, 11/25/27 (d) (e)		3,696,294	$	87,354
0.432%, 08/25/24 (d) (e)		4,897,000		97,408
0.449%, 11/25/32 (d) (e)		2,842,655		90,079
0.457%, 11/25/27 (d) (e)		3,363,731		89,980
0.461%, 08/25/27 (d) (e)		3,107,000		87,554
0.492%, 10/25/24 (d) (e)		6,515,786		123,053
0.495%, 12/25/27 (d) (e)		5,741,300		169,495
0.496%, 09/25/27 (d) (e)		2,758,746		81,621
0.532%, 08/25/24 (d) (e)		8,952,259		189,780
0.568%, 08/25/27 (d) (e)		2,150,684		71,205
0.637%, 07/25/24 (d) (e)		4,483,000		128,189
0.714%, 07/25/27 (d) (e)		3,882,418		169,178
0.747%, 07/25/24 (d) (e)		1,650,508		49,053
0.774%, 06/25/27 (d) (e)		4,356,000		219,877
0.891%, 06/25/27 (d) (e)		1,480,520		80,917
1.018%, 04/25/24 (d) (e)		1,978,540		78,817
1.869%, 11/25/19		313,527		310,349
2.456%, 08/25/19		330,000		329,037
2.510%, 11/25/22		489,000		476,547
2.670%, 12/25/24		507,000		489,292
2.673%, 03/25/26		676,000		643,221
2.716%, 06/25/22		346,271		341,127
2.791%, 01/25/22		474,000		468,719
3.010%, 07/25/25		134,000		131,131
3.060%, 07/25/23 (d)		219,000		217,307
3.064%, 08/25/24 (d)		255,000		251,645
3.111%, 02/25/23		695,000		692,808
3.117%, 06/25/27		354,000		342,989
3.151%, 11/25/25		317,000		312,904
3.171%, 10/25/24		424,000		420,872
3.187%, 09/25/27 (d)		242,000		234,901
3.194%, 07/25/27		389,000		378,618
3.224%, 03/25/27		334,000		326,962
3.244%, 08/25/27		920,000		898,030
3.250%, 04/25/23 (d)		803,000		804,900
3.300%, 10/25/26		310,000		305,961
3.303%, 11/25/27 (d)		85,000		83,242
3.320%, 02/25/23 (d)		227,000		228,066
3.413%, 12/25/26		248,000		246,338
3.430%, 01/25/27 (d)		242,707		241,206
3.458%, 08/25/23 (d)		835,000		842,551
3.650%, 02/25/28 (d)		285,000		286,892
3.900%, 06/25/51		528,000		540,329
5.085%, 03/25/19		1,226,000		1,231,996
Ginnie Mae I 30 Yr. Pool 3.500%, 12/15/41		336,733		336,344
3.500%, 02/15/42		116,345		116,211
4.500%, 09/15/33		75,634		78,897
4.500%, 11/15/39		232,040		242,083
4.500%, 03/15/40		248,589		262,395
4.500%, 04/15/40		273,670		285,480
4.500%, 06/15/40		112,811		118,553
5.000%, 03/15/34		25,817		27,419
5.000%, 06/15/34		61,158		64,963
5.000%, 12/15/34		28,089		29,835

BHFTII-236

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MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae I 30 Yr. Pool
5.000%, 06/15/35		7,075	$	7,372
5.500%, 11/15/32		137,352		148,011
5.500%, 08/15/33		205,221		222,745
5.500%, 12/15/33		114,441		124,333
5.500%, 09/15/34		100,839		109,551
5.500%, 10/15/35		13,711		14,720
6.000%, 12/15/28		28,350		30,866
6.000%, 12/15/31		27,061		29,571
6.000%, 03/15/32		1,101		1,190
6.000%, 10/15/32		133,696		146,107
6.000%, 01/15/33		30,716		33,211
6.000%, 02/15/33		1,492		1,612
6.000%, 04/15/33		136,545		149,210
6.000%, 08/15/33		1,016		1,097
6.000%, 07/15/34		77,718		84,933
6.000%, 09/15/34		25,340		27,378
6.000%, 01/15/38		118,160		131,394
Ginnie Mae II 30 Yr. Pool 3.000%, 11/20/47		666,588		646,109
3.000%, 01/20/48		4,597,775		4,456,151
3.000%, 03/20/48		700,000		678,438
3.500%, 06/20/43		629,677		629,718
3.500%, 07/20/43		796,961		797,013
3.500%, 11/20/47		200,000		199,023
3.500%, 03/20/48		2,500,001		2,487,771
3.500%, 08/20/48		1,122,487		1,117,004
3.500%, 09/20/48		475,000		472,679
4.000%, 01/20/41		760,987		780,920
4.000%, 02/20/41		190,594		195,585
4.000%, 04/20/41		145,699		149,519
4.000%, 02/20/42		195,266		200,384
4.500%, 07/20/33		15,316		15,974
4.500%, 09/20/33		8,687		9,058
4.500%, 12/20/34		6,052		6,310
4.500%, 03/20/35		36,726		38,297
4.500%, 01/20/41		196,441		205,950
5.000%, 07/20/33		28,172		30,017
6.000%, 01/20/35		35,306		38,792
6.000%, 02/20/35		17,595		19,683
6.000%, 04/20/35		30,949		33,823
Government National Mortgage Association (CMO) 0.659%, 02/16/59 (d) (e)		2,446,006		146,528
				97,984,212
Federal Agencies—0.1%
Financing Corp. 9.650%, 11/02/18		430,000		432,761
U.S. Treasury—12.7%
U.S. Treasury Bonds 2.500%, 02/15/45		68,000		59,535
2.875%, 05/15/43 (b)		14,475,100		13,681,231
2.875%, 11/15/46		5,439,000		5,113,085
3.000%, 11/15/45		350,000		337,422

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Bonds
3.000%, 02/15/48		350,000	$	336,684
3.500%, 02/15/39		4,350,000		4,582,113
4.500%, 02/15/36 (b)		179,000		212,395
4.500%, 08/15/39		743,000		894,909
5.000%, 05/15/37		232,000		293,589
5.250%, 02/15/29		16,000		19,103
5.375%, 02/15/31		276,000		341,086
6.250%, 08/15/23		80,000		91,978
U.S. Treasury Notes 1.750%, 11/30/21		28,134,000		27,164,696
2.000%, 11/15/26		1,875,000		1,735,181
2.250%, 08/15/27		6,478,000		6,075,908
2.500%, 08/15/23		5,404,000		5,294,653
3.125%, 05/15/21		3,504,000		3,526,584
3.500%, 05/15/20		33,621,000		33,993,983
				103,754,135
Total U.S. Treasury & Government Agencies (Cost $209,161,537)				202,171,108
Corporate Bonds & Notes—11.2%
Aerospace/Defense—0.2%
L3 Technologies, Inc. 3.850%, 06/15/23		862,000		863,940
United Technologies Corp. 4.625%, 11/16/48		562,000		562,036
				1,425,976
Agriculture—0.2%
Imperial Brands Finance plc 2.950%, 07/21/20 (144A)		828,000		819,852
Reynolds American, Inc. 5.850%, 08/15/45		504,000		547,364
				1,367,216
Auto Manufacturers—0.2%
General Motors Co. 5.150%, 04/01/38		235,000		218,340
6.750%, 04/01/46		374,000		404,300
General Motors Financial Co., Inc. 3.200%, 07/06/21		776,000		766,651
4.350%, 04/09/25		360,000		353,511
				1,742,802
Auto Parts & Equipment—0.1%
Lear Corp. 3.800%, 09/15/27 (b)		585,000		542,811
Banks—2.8%
ABN AMRO Bank NV 4.800%, 04/18/26 (144A)		800,000		804,610

BHFTII-237

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MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Banco de Credito del Peru 5.375%, 09/16/20		835,000	$	865,895
Bank of America Corp. 3.004%, 3M LIBOR + 0.790%, 12/20/23 (d)		766,000		743,177
3.366%, 3M LIBOR + 0.810%, 01/23/26 (d)		591,000		568,118
3.500%, 04/19/26		583,000		563,342
4.100%, 07/24/23 (b)		1,270,000		1,292,763
4.125%, 01/22/24 (b)		1,357,000		1,378,276
5.490%, 03/15/19 (b)		196,000		198,421
Bank of New York Mellon Corp. (The) 2.600%, 08/17/20		1,029,000		1,020,842
BBVA Bancomer S.A. 6.750%, 09/30/22 (144A) (b)		810,000		868,085
Capital One Financial Corp. 2.500%, 05/12/20 (b)		689,000		680,408
3.750%, 03/09/27 (b)		820,000		773,590
Citizens Bank N.A. 2.250%, 03/02/20		292,000		288,072
Goldman Sachs Group, Inc. (The) 3.850%, 01/26/27		616,000		597,305
JPMorgan Chase & Co. 3.200%, 01/25/23		1,756,000		1,730,406
3.782%, 3M LIBOR + 1.337%, 02/01/28 (b) (d)		1,844,000		1,794,993
3.897%, 3M LIBOR + 1.220%, 01/23/49 (d)		400,000		363,543
KFW 4.875%, 06/17/19		1,290,000		1,309,996
Morgan Stanley 3.125%, 01/23/23		725,000		706,168
3.625%, 01/20/27		1,695,000		1,626,646
3.875%, 04/29/24		557,000		554,302
4.000%, 07/23/25		396,000		394,495
PNC Bank N.A. 2.300%, 06/01/20		719,000		709,148
Royal Bank of Scotland Group plc 3.875%, 09/12/23		1,128,000		1,095,971
UBS Group Funding Switzerland AG 4.125%, 04/15/26 (144A) (f)		838,000		830,631
4.253%, 03/23/28 (144A) (b)		838,000		831,629
				22,590,832
Beverages—0.2%
Anheuser-Busch InBev Worldwide, Inc. 8.000%, 11/15/39		706,000		978,193
Constellation Brands, Inc. 3.500%, 05/09/27		1,077,000		1,005,551
				1,983,744
Biotechnology—0.1%
Celgene Corp. 2.875%, 08/15/20		504,000		500,672
Building Materials—0.1%
CRH America Finance, Inc. 4.500%, 04/04/48 (144A)		362,000		331,606

Security Description	Principal Amount*		Value
Building Materials—(Continued)
Martin Marietta Materials, Inc. 3.500%, 12/15/27		297,000	$	272,150
Masco Corp. 4.375%, 04/01/26		623,000		619,957
				1,223,713
Chemicals—0.1%
SASOL Financing USA LLC 5.875%, 03/27/24		502,000		511,377
Sherwin-Williams Co. (The) 2.250%, 05/15/20		344,000		338,947
4.500%, 06/01/47		402,000		386,035
				1,236,359
Commercial Services—0.2%
ERAC USA Finance LLC 7.000%, 10/15/37 (144A)		1,115,000		1,394,983
Computers—0.3%
Apple, Inc. 2.850%, 02/23/23		1,176,000		1,155,015
3.350%, 02/09/27		745,000		728,359
3.850%, 05/04/43		370,000		355,587
				2,238,961
Diversified Financial Services—0.6%
Charles Schwab Corp. (The) 3.200%, 01/25/28 (b)		891,000		846,040
E*TRADE Financial Corp. 2.950%, 08/24/22		338,000		326,820
Intercontinental Exchange, Inc. 2.350%, 09/15/22		487,000		466,890
2.750%, 12/01/20 (b)		301,000		298,463
4.000%, 10/15/23		832,000		853,100
Raymond James Financial, Inc. 4.950%, 07/15/46		778,000		789,365
Visa, Inc. 3.150%, 12/14/25		983,000		952,743
				4,533,421
Electric—0.8%
Berkshire Hathaway Energy Co. 3.750%, 11/15/23		440,000		444,144
Duke Energy Corp. 2.650%, 09/01/26		131,000		118,382
Enel Finance International NV 4.875%, 06/14/29 (144A) (f)		696,000		673,963
Exelon Corp. 3.400%, 04/15/26		1,137,000		1,087,444
Oncor Electric Delivery Co. LLC 7.000%, 09/01/22 (b)		795,000		898,711
PPL Capital Funding, Inc. 3.400%, 06/01/23 (b)		880,000		864,239
5.000%, 03/15/44		296,000		307,602

BHFTII-238

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MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Progress Energy, Inc. 3.150%, 04/01/22		1,083,000	$	1,065,608
State Grid Overseas Investment, Ltd. 2.750%, 05/07/19 (144A) (f)		778,000		775,450
2.750%, 05/04/22 (144A)		630,000		608,967
				6,844,510
Entertainment—0.1%
GLP Capital L.P. / GLP Financing II, Inc. 5.300%, 01/15/29 (b)		574,000		575,022
Environmental Control—0.1%
Republic Services, Inc. 3.950%, 05/15/28		446,000		443,022
Food—0.2%
Danone S.A. 2.947%, 11/02/26 (144A)		1,133,000		1,039,853
Kraft Heinz Foods Co. 5.000%, 07/15/35		254,000		250,625
WM Wrigley Jr. Co. 2.400%, 10/21/18 (144A)		248,000		247,978
				1,538,456
Gas—0.0%
NiSource, Inc. 5.650%, 02/01/45		176,000		196,310
Healthcare-Products—0.7%
Abbott Laboratories 4.900%, 11/30/46		749,000		812,344
Becton Dickinson & Co. 2.675%, 12/15/19		520,000		517,055
3.125%, 11/08/21		344,000		338,508
4.669%, 06/06/47		729,000		719,934
Medtronic, Inc. 4.375%, 03/15/35		446,000		460,682
Thermo Fisher Scientific, Inc. 2.950%, 09/19/26		851,000		788,987
3.200%, 08/15/27		1,100,000		1,028,158
Zimmer Biomet Holdings, Inc. 3.089%, 3M LIBOR + 0.750%, 03/19/21 (d)		313,000		313,290
3.550%, 04/01/25		955,000		915,961
				5,894,919
Healthcare-Services—0.3%
Halfmoon Parent, Inc. 4.125%, 11/15/25 (144A)		823,000		820,367
Laboratory Corp. of America Holdings 3.200%, 02/01/22		213,000		210,130
3.250%, 09/01/24		558,000		534,339
4.700%, 02/01/45		267,000		258,778
Northwell Healthcare, Inc. 3.979%, 11/01/46		57,000		51,660
4.260%, 11/01/47		456,000		432,745
				2,308,019

Security Description	Principal Amount*		Value
Household Products/Wares—0.2%
Reckitt Benckiser Treasury Services plc 2.750%, 06/26/24 (144A)		348,000	$	329,770
3.625%, 09/21/23 (144A)		1,070,000		1,071,541
				1,401,311
Insurance—0.5%
American International Group, Inc. 4.125%, 02/15/24 (b)		750,000		753,177
4.875%, 06/01/22		1,770,000		1,845,003
Berkshire Hathaway, Inc. 3.125%, 03/15/26		390,000		376,089
Liberty Mutual Group, Inc. 4.850%, 08/01/44 (144A)		484,000		483,361
Marsh & McLennan Cos., Inc. 4.800%, 07/15/21		920,000		949,043
				4,406,673
Internet—0.3%
Alibaba Group Holding, Ltd. 4.000%, 12/06/37		200,000		183,416
Baidu, Inc. 3.500%, 11/28/22		1,110,000		1,089,279
Booking Holdings, Inc. 2.750%, 03/15/23		1,315,000		1,259,792
				2,532,487
Investment Company Security—0.2%
Temasek Financial I, Ltd. 2.375%, 01/23/23 (144A)		1,790,000		1,716,381
Lodging—0.1%
Marriott International, Inc. 4.000%, 04/15/28 (b)		698,000		682,883
Machinery-Diversified—0.2%
CNH Industrial Capital LLC 4.200%, 01/15/24		675,000		671,426
Roper Technologies, Inc. 4.200%, 09/15/28		281,000		279,440
Wabtec Corp. 4.700%, 09/15/28		648,000		635,693
				1,586,559
Media—0.2%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.908%, 07/23/25		523,000		530,821
Time Warner Entertainment Co. L.P. 8.375%, 07/15/33		1,240,000		1,538,842
				2,069,663
Mining—0.1%
Glencore Funding LLC 4.000%, 03/27/27 (144A)		200,000		187,638
4.125%, 05/30/23 (144A) (b)		684,000		683,166
				870,804

BHFTII-239

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—0.4%
BP Capital Markets plc 4.500%, 10/01/20		306,000	$	313,658
Eni S.p.A. 4.750%, 09/12/28 (144A)		617,000		609,457
Equinor ASA 7.750%, 06/15/23		100,000		117,444
Marathon Petroleum Corp. 3.625%, 09/15/24 (b)		858,000		846,489
4.750%, 09/15/44		583,000		562,752
Valero Energy Corp. 4.900%, 03/15/45		896,000		911,801
				3,361,601
Pharmaceuticals—0.1%
Bayer U.S. Finance LLC 3.875%, 12/15/23 (144A)		287,000		285,005
CVS Health Corp. 5.050%, 03/25/48		348,000		355,533
				640,538
Pipelines—0.6%
APT Pipelines, Ltd. 4.200%, 03/23/25 (144A)		1,228,000		1,214,521
4.250%, 07/15/27 (144A)		93,000		90,680
Enbridge, Inc. 5.500%, 12/01/46		141,000		158,174
Enterprise Products Operating LLC 6.500%, 01/31/19		908,000		918,817
Kinder Morgan Energy Partners L.P. 4.150%, 02/01/24		691,000		692,829
MPLX L.P. 4.500%, 04/15/38		297,000		279,577
ONEOK, Inc. 4.950%, 07/13/47		869,000		862,152
Sabine Pass Liquefaction LLC 5.000%, 03/15/27		1,100,000		1,129,325
				5,346,075
Real Estate Investment Trusts—0.2%
American Tower Corp. 3.000%, 06/15/23		415,000		399,443
3.600%, 01/15/28 (b)		415,000		387,522
Crown Castle International Corp. 3.650%, 09/01/27		1,014,000		952,230
				1,739,195
Retail—0.2%
Dollar Tree, Inc. 4.000%, 05/15/25		349,000		342,139
Home Depot, Inc. (The) 3.900%, 06/15/47		471,000		452,914
Tapestry, Inc. 4.125%, 07/15/27 (b)		572,000		543,346
				1,338,399

Security Description	Principal Amount*		Value
Semiconductors—0.2%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.500%, 01/15/28		837,000	$	760,101
Intel Corp. 4.100%, 05/11/47 (b)		591,000		582,749
				1,342,850
Shipbuilding—0.0%
Huntington Ingalls Industries, Inc. 3.483%, 12/01/27		250,000		234,150
Software—0.2%
Fidelity National Information Services, Inc. 4.500%, 08/15/46		210,000		197,879
4.750%, 05/15/48		498,000		493,092
Microsoft Corp. 4.250%, 02/06/47		1,092,000		1,144,580
				1,835,551
Telecommunications—0.2%
AT&T, Inc. 3.000%, 06/30/22		838,000		817,101
5.450%, 03/01/47		896,000		895,257
				1,712,358
Total Corporate Bonds & Notes (Cost $90,029,604)				91,399,226
Mortgage-Backed Securities—2.0%
Commercial Mortgage-Backed Securities—2.0%
Bancorp Commercial Mortgage Trust 3.070%, 1M LIBOR + 0.900%, 09/15/35 (144A) (d) (f)		1,034,000		1,033,942
BDS, Ltd. 3.558%, 1M LIBOR + 1.400%, 08/15/35 (144A) (d) (f)		558,000		560,091
Benchmark Mortgage Trust 3.666%, 01/15/51 (d)		1,235,000		1,224,273
CD Commercial Mortgage Trust 3.514%, 05/10/50 (d)		1,519,456		1,491,990
Citigroup Commercial Mortgage Trust 3.471%, 10/12/50		334,128		325,772
Commercial Mortgage Pass-Through Certificates Mortgage Trust 3.510%, 09/10/50		980,547		957,558
Commercial Mortgage Trust 3.708%, 07/10/48		1,300,833		1,303,522
CSAIL Commercial Mortgage Trust 3.504%, 06/15/57		738,578		729,005
General Electric Capital Assurance Co. 5.743%, 05/12/35 (144A) (d) (f)		6,196		6,227
GS Mortgage Securities Corp. II 3.382%, 05/10/50		1,387,991		1,365,433
GS Mortgage Securities Trust 3.433%, 05/10/50		687,654		671,034
JPMBB Commercial Mortgage Securities Trust 3.227%, 10/15/48		1,036,740		1,009,035
3.494%, 01/15/48		1,590,000		1,578,243

BHFTII-240

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
JPMCC Commercial Mortgage Securities Trust 3.454%, 09/15/50		266,697	$	259,382
Morgan Stanley Bank of America Merrill Lynch Trust 3.536%, 11/15/52		519,442		506,539
Morgan Stanley Capital I, Inc. 3.530%, 06/15/50		470,148		458,765
UBS Commercial Mortgage Trust 3.679%, 12/15/50		1,210,000		1,191,445
Wells Fargo Commercial Mortgage Trust 3.540%, 05/15/48		1,410,327		1,403,675
Total Mortgage-Backed Securities (Cost $16,722,796)				16,075,931
Asset-Backed Securities—1.4%
Asset-Backed - Automobile—0.2%
Chesapeake Funding II LLC 3.040%, 04/15/30 (144A) (f)		534,000		532,655
3.158%, 1M LIBOR + 1.000%, 06/15/28 (144A) (d) (f)		530,004		532,044
Ford Credit Auto Owner Trust 2.260%, 11/15/25 (144A)		550,000		548,208
2.310%, 04/15/26 (144A)		425,000		422,272
				2,035,179
Asset-Backed - Home Equity—0.1%
Bayview Financial Revolving Asset Trust 3.842%, 1M LIBOR + 1.600%, 12/28/40 (144A) (d) (f)		493,422		459,704
GMAC Home Equity Loan Trust 5.805%, 10/25/36 (d)		133,821		135,403
Home Equity Loan Trust 5.320%, 12/25/35 (d)		261,110		252,706
				847,813
Asset-Backed - Other—1.1%
ALM, Ltd. Zero Coupon, -1 x 3M LIBOR + 1.400%, 10/15/27 (144A) (d) (f)		1,395,000		1,395,000
2.604%, 3M LIBOR + 1.250%, 10/18/27 (144A) (d) (f)		849,000		841,861
American Tower Trust I 3.070%, 03/15/48 (144A)		1,000,000		976,446
Dryden 55 CLO, Ltd. 3.061%, 3M LIBOR + 1.020%, 04/15/31 (144A) (d)		1,430,000		1,422,654
Dryden Senior Loan Fund 3.248%, 3M LIBOR + 0.900%, 04/15/29 (144A) (d) (f)		663,000		658,123
Figueroa CLO, Ltd. 3.839%, 3M LIBOR + 1.500%, 01/15/27 (144A) (d)		420,000		419,575
Mountain Hawk CLO, Ltd. 4.133%, 3M LIBOR + 1.800%, 04/18/25 (144A) (d)		1,463,576		1,463,728
Navistar Financial Dealer Note Master Trust 2.798%, 1M LIBOR + 0.630%, 09/25/23 (144A) (d) (f)		808,000		807,999
Neuberger Berman CLO, Ltd. 3.139%, 3M LIBOR + 0.800%, 01/15/28 (144A) (d) (f)		600,000		598,685

Security Description	Shares/ Principal Amount*		Value
Asset-Backed - Other—(Continued)
Small Business Administration Participation Certificates 4.350%, 07/01/23		99,556	$	101,290
4.770%, 04/01/24		7,881		8,033
4.950%, 03/01/25		40,462		41,361
4.990%, 09/01/24		22,850		23,435
5.110%, 08/01/25		57,852		59,155
5.180%, 05/01/24		11,148		11,367
5.520%, 06/01/24		27,379		28,187
				8,856,899
Total Asset-Backed Securities (Cost $11,816,297)				11,739,891
Municipals—0.2%
New Jersey State Turnpike Authority, Build America Bond 7.414%, 01/01/40 (Cost $1,092,733)		1,050,000		1,502,329
Convertible Preferred Stocks—0.1%
Electric—0.1%
CenterPoint Energy, Inc. 7.000%, 09/01/21 (a)		10,262		518,129
Electric Utilities—0.0%
NextEra Energy, Inc. 6.123%, 09/01/19		6,834		389,196
Total Convertible Preferred Stocks (Cost $892,157)				907,325
Short-Term Investment—1.4%
Discount Note—1.4%
Federal Home Loan Bank Zero Coupon, 10/01/18 (g)		11,246,000		11,246,000
Total Short-Term Investments (Cost $11,246,000)				11,246,000
Securities Lending Reinvestments (h)—8.4%
Certificates of Deposit—3.7%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		2,000,000		1,999,966
Banco Santander S.A. 2.340%, 11/07/18		1,499,962		1,500,123
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		1,000,000		999,998
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (d)		2,000,000		2,001,908
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (d)		1,000,000		999,797
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,000,000		1,000,075

BHFTII-241

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (d)		2,000,000	$	2,000,080
Credit Industriel et Commercial Zero Coupon, 01/25/19		1,480,842		1,488,045
Industrial & Commercial Bank of China, Ltd. 2.500%, 11/15/18		2,000,000		1,999,952
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		3,000,000		3,000,006
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (d)		1,000,000		999,967
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (d)		1,000,000		999,921
2.504%, 1M LIBOR + 0.370%, 02/14/19 (d)		2,000,000		2,001,338
Royal Bank of Canada New York 2.381%, 1M LIBOR + 0.250%, 01/11/19 (d)		1,500,000		1,500,495
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (d)		2,000,000		1,999,766
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (d)		1,500,000		1,499,929
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		1,500,000		1,500,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (d)		1,000,000		1,000,114
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,500,000		1,500,797
				29,992,277
Commercial Paper—1.1%
Bank of China, Ltd. 2.550%, 12/20/18		1,987,250		1,988,494
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (d)		2,000,000		2,001,022
Sheffield Receivables Co. 2.490%, 11/26/18		1,480,391		1,494,239
2.510%, SOFR + 0.350%, 11/28/18 (d)		500,000		500,137
Starbird Funding Corp. 2.280%, 11/08/18		994,300		997,446
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		1,500,000		1,501,384
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (d)		1,000,000		1,000,554
				9,483,276
Repurchase Agreements—3.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $3,031,517; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $3,162,858.		3,000,000		3,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $52,663; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $51,000.		50,000		50,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $300,056; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $306,000.		300,000	$	300,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $100,019; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $102,000.		100,000		100,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $200,037; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $204,000.		200,000		200,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $101,884; collateralized by various Common Stock with an aggregate market value of $111,332.		100,000		100,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $100,397; collateralized by various Common Stock with an aggregate market value of $111,125.		100,000		100,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $4,483,666; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $4,569,015.		4,482,844		4,482,844
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $1,166,156; collateralized by various Common Stock with an aggregate market value of $1,210,000.		1,100,000		1,100,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $3,117,187; collateralized by various Common Stock with an aggregate market value of $3,300,000.		3,000,000		3,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $4,001,921; collateralized by various Common Stock with an aggregate market value of $4,400,857.		4,000,000		4,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $305,948; collateralized by various Common Stock with an aggregate market value of $333,797.		300,000		300,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $303,881; collateralized by various Common Stock with an aggregate market value of $333,797.		300,000		300,000

BHFTII-242

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $1,005,201; collateralized by various Common Stock with an aggregate market value of $1,112,744.		1,000,000	$	1,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $1,507,703; collateralized by various Common Stock with an aggregate market value of $1,669,116.		1,500,000		1,500,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $202,657; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $222,130.		200,000		200,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $303,831; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000		300,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $303,735; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $333,195.		300,000		300,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $101,200; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $111,065.		100,000		100,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $1,709,614; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,888,102.		1,700,000		1,700,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $1,011,050; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $2,019,240; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
				25,132,844

Security Description	Principal Amount*		Value
Time Deposits—0.5%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		2,000,000	$	2,000,000
Erste Group Bank AG 2.170%, 10/01/18		2,000,000		2,000,000
				4,000,000
Total Securities Lending Reinvestments (Cost $68,601,136)				68,608,397
Total Investments—109.0% (Cost $774,946,768)				890,297,830
Other assets and liabilities (net)—(9.0)%				(73,683,684	)
Net Assets—100.0%			$	816,614,146

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $66,933,913 and the collateral received consisted of cash in the amount of $68,575,590. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(e)	Interest only security.
(f)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of September 30, 2018, the market value of restricted securities was $9,706,375, which is 1.2% of net assets. See details shown in the Restricted Securities table that follows.
(g)	The rate shown represents current yield to maturity.
(h)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $29,398,708, which is 3.6% of net assets.
(ACES)—	Alternative Credit Enhancement Securities
(ADR)—	American Depositary Receipt
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(REMIC)—	Real Estate Mortgage Investment Conduit
(SOFR)—	Secured Overnight Financing Rate

BHFTII-243

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
ALM, Ltd., 2.604%, 10/18/27		10/04/17	$	849,000	$	849,000	$	841,861
ALM, Ltd., Zero Coupon, 10/15/27		09/21/18		1,395,000		1,395,000		1,395,000
BDS, Ltd., 3.558%, 08/15/35		07/25/18		558,000		558,000		560,091
Bancorp Commercial Mortgage Trust, 3.070%, 09/15/35		09/17/18		1,034,000		1,034,000		1,033,942
Bayview Financial Revolving Asset Trust, 3.842%, 12/28/40		03/01/06		493,422		493,422		459,704
Chesapeake Funding II LLC, 3.158%, 06/15/28		06/14/16		530,004		530,004		532,044
Chesapeake Funding II LLC, 3.040%, 04/15/30		04/11/18		534,000		533,983		532,655
Dryden Senior Loan Fund, 3.248%, 04/15/29		04/09/18		663,000		663,000		658,123
Enel Finance International NV, 4.875%, 06/14/29		09/11/18		696,000		690,388		673,963
General Electric Capital Assurance Co., 5.743%, 05/12/35		09/23/03		6,196		6,227		6,227
Navistar Financial Dealer Note Master Trust, 2.798%, 09/25/23		09/17/18		808,000		808,000		807,999
Neuberger Berman CLO, Ltd., 3.139%, 01/15/28		09/19/18		600,000		598,050		598,685
State Grid Overseas Investment, Ltd., 2.750%, 05/07/19		04/28/14		778,000		777,082		775,450
UBS Group Funding Switzerland AG, 4.125%, 04/15/26		03/29/16		838,000		836,539		830,631
							$	9,706,375

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	18,650,055	$	—	$	—	$	18,650,055
Air Freight & Logistics		2,039,739		—		—		2,039,739
Airlines		1,224,608		—		—		1,224,608
Auto Components		4,490,999		—		—		4,490,999
Automobiles		231,981		1,426,961		—		1,658,942
Banks		46,642,577		1,800,019		—		48,442,596
Beverages		2,392,617		3,037,100		—		5,429,717
Biotechnology		863,843		—		—		863,843
Building Products		4,774,105		—		—		4,774,105
Capital Markets		28,651,953		—		—		28,651,953
Chemicals		13,227,341		—		—		13,227,341
Commercial Services & Supplies		703,923		—		—		703,923
Communications Equipment		5,648,070		—		—		5,648,070
Consumer Finance		4,491,836		—		—		4,491,836
Containers & Packaging		1,297,680		—		—		1,297,680
Diversified Financial Services		—		813,807		—		813,807
Diversified Telecommunication Services		3,777,989		—		—		3,777,989
Electric Utilities		13,691,150		1,262,040		—		14,953,190
Electrical Equipment		7,129,555		427,927		—		7,557,482

BHFTII-244

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Energy Equipment & Services	$	3,271,343	$	—		$	—	$	3,271,343
Entertainment		508,950		—			—		508,950
Equity Real Estate Investment Trusts		8,924,653		—			—		8,924,653
Food & Staples Retailing		1,345,177		—			—		1,345,177
Food Products		9,173,839		6,930,240			—		16,104,079
Health Care Equipment & Supplies		19,796,305		—			—		19,796,305
Health Care Providers & Services		16,499,797		—			—		16,499,797
Hotels, Restaurants & Leisure		2,495,689		—			—		2,495,689
Household Durables		3,944,586		—			—		3,944,586
Household Products		3,549,143		1,646,113			—		5,195,256
Industrial Conglomerates		10,751,879		—			—		10,751,879
Insurance		24,697,252		2,477,072			—		27,174,324
Interactive Media & Services		5,506,182		—			—		5,506,182
Internet & Direct Marketing Retail		5,199,788		—			—		5,199,788
IT Services		21,442,503		—			—		21,442,503
Life Sciences Tools & Services		6,842,783		—			—		6,842,783
Machinery		9,265,511		—			—		9,265,511
Media		14,360,404		—			—		14,360,404
Metals & Mining		—		2,259,145			—		2,259,145
Mortgage Real Estate Investment Trusts		801,520		—			—		801,520
Multi-Utilities		3,125,539		831,218			—		3,956,757
Multiline Retail		406,968		—			—		406,968
Oil, Gas & Consumable Fuels		25,362,210		4,065,211			—		29,427,421
Personal Products		580,046		—			—		580,046
Pharmaceuticals		30,887,579		4,954,549			—		35,842,128
Professional Services		1,762,042		—			—		1,762,042
Road & Rail		9,718,342		—			—		9,718,342
Semiconductors & Semiconductor Equipment		11,810,493		—			—		11,810,493
Software		15,101,815		—			—		15,101,815
Specialty Retail		2,890,030		—			—		2,890,030
Technology Hardware, Storage & Peripherals		4,933,561		559,027			—		5,492,588
Textiles, Apparel & Luxury Goods		2,075,767		1,188,770			—		3,264,537
Tobacco		14,956,373		689,229			—		15,645,602
Trading Companies & Distributors		361,105		—			—		361,105
Total Common Stocks		452,279,195		34,368,428			—		486,647,623
Total U.S. Treasury & Government Agencies*		—		202,171,108			—		202,171,108
Total Corporate Bonds & Notes*		—		91,399,226			—		91,399,226
Total Mortgage-Backed Securities*		—		16,075,931			—		16,075,931
Total Asset-Backed Securities*		—		11,739,891			—		11,739,891
Total Municipals		—		1,502,329			—		1,502,329
Total Convertible Preferred Stocks*		907,325		—			—		907,325
Total Short-Term Investment*		—		11,246,000			—		11,246,000
Total Securities Lending Reinvestments*		—		68,608,397			—		68,608,397
Total Investments	$	453,186,520	$	437,111,310		$	—	$	890,297,830
Collateral for Securities Loaned (Liability)	$	—	$	(68,575,590	)	$	—	$	(68,575,590	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-245

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.0% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.8%
Lockheed Martin Corp.		73,070	$	25,279,297
Northrop Grumman Corp.		206,057		65,396,310
United Technologies Corp.		333,319		46,601,330
				137,276,937
Air Freight & Logistics—0.6%
United Parcel Service, Inc. - Class B		183,111		21,378,209
Auto Components—0.7%
Aptiv plc		323,246		27,120,339
Garrett Motion, Inc. (a)		12,340		228,285
				27,348,624
Automobiles—0.1%
Harley-Davidson, Inc.		114,383		5,181,550
Banks—13.6%
Citigroup, Inc.		1,151,177		82,585,438
JPMorgan Chase & Co.		1,500,815		169,351,965
PNC Financial Services Group, Inc. (The)		411,922		56,099,657
U.S. Bancorp		1,501,139		79,275,150
Wells Fargo & Co.		2,083,811		109,525,106
				496,837,316
Beverages—1.6%
Diageo plc		1,189,803		42,136,115
PepsiCo, Inc.		158,025		17,667,195
				59,803,310
Building Products—1.7%
Johnson Controls International plc (b)		1,720,968		60,233,880
Capital Markets—7.5%
Bank of New York Mellon Corp. (The)		802,469		40,917,894
BlackRock, Inc.		78,543		37,019,672
Goldman Sachs Group, Inc. (The) (b)		361,094		80,971,719
Moody’s Corp. (b)		157,578		26,347,042
Nasdaq, Inc. (b)		446,818		38,336,984
State Street Corp.		371,258		31,103,995
T. Rowe Price Group, Inc. (b)		164,762		17,988,715
				272,686,021
Chemicals—3.1%
DowDuPont, Inc.		211,222		13,583,687
PPG Industries, Inc. (b)		595,638		65,001,975
Sherwin-Williams Co. (The)		77,083		35,088,952
				113,674,614
Consumer Finance—1.1%
American Express Co.		392,986		41,849,079
Containers & Packaging—0.4%
Crown Holdings, Inc. (a) (b)		278,848		13,384,704

Security Description	Shares		Value
Diversified Telecommunication Services—0.8%
Verizon Communications, Inc.		560,905	$	29,946,718
Electric Utilities—2.9%
Duke Energy Corp. (b)		725,024		58,016,420
Southern Co. (The) (b)		727,707		31,728,025
Xcel Energy, Inc. (b)		308,351		14,557,251
				104,301,696
Electrical Equipment—1.1%
Eaton Corp. plc		445,505		38,638,649
Energy Equipment & Services—1.5%
Schlumberger, Ltd.		905,863		55,185,174
Equity Real Estate Investment Trusts—0.4%
Public Storage (b)		63,589		12,821,450
Food Products—4.0%
Archer-Daniels-Midland Co.		467,843		23,518,467
Danone S.A.		215,822		16,708,203
General Mills, Inc. (b)		853,909		36,649,774
J.M. Smucker Co. (The) (b)		129,970		13,336,222
Nestle S.A.		687,939		57,309,503
				147,522,169
Health Care Equipment & Supplies—5.7%
Abbott Laboratories (b)		785,685		57,637,851
Danaher Corp.		481,612		52,331,960
Medtronic plc		1,006,021		98,962,286
				208,932,097
Health Care Providers & Services—2.4%
Cigna Corp.		187,074		38,958,161
Express Scripts Holding Co. (a)		264,599		25,139,551
McKesson Corp.		170,774		22,653,171
				86,750,883
Household Durables—0.2%
Newell Brands, Inc. (b)		350,473		7,114,602
Household Products—1.3%
Colgate-Palmolive Co.		109,146		7,307,325
Kimberly-Clark Corp.		99,379		11,293,429
Procter & Gamble Co. (The)		100,668		8,378,598
Reckitt Benckiser Group plc		212,242		19,389,218
				46,368,570
Industrial Conglomerates—3.3%
3M Co. (b)		205,442		43,288,684
Honeywell International, Inc.		458,987		75,732,855
				119,021,539
Insurance—7.0%
Aon plc (b)		460,155		70,762,636
Chubb, Ltd.		559,369		74,754,073

BHFTII-246

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Prudential Financial, Inc.		256,475	$	25,986,047
Travelers Cos., Inc. (The) (b)		650,034		84,315,910
				255,818,666
IT Services—6.5%
Accenture plc - Class A (b)		653,818		111,279,824
Amdocs, Ltd.		132,050		8,712,659
Cognizant Technology Solutions Corp. - Class A		187,216		14,443,714
DXC Technology Co.		225,040		21,045,741
Fidelity National Information Services, Inc. (b)		390,376		42,578,310
Fiserv, Inc. (a)		464,871		38,296,073
				236,356,321
Life Sciences Tools & Services—1.5%
Thermo Fisher Scientific, Inc. (b)		226,887		55,378,579
Machinery—2.6%
Illinois Tool Works, Inc. (b)		262,145		36,993,902
Ingersoll-Rand plc		321,919		32,932,314
Stanley Black & Decker, Inc. (b)		175,259		25,664,928
				95,591,144
Media—4.2%
Comcast Corp. - Class A		2,413,152		85,449,713
Interpublic Group of Cos., Inc. (The) (b)		1,183,998		27,078,034
Omnicom Group, Inc. (b)		581,659		39,564,445
				152,092,192
Oil, Gas & Consumable Fuels—3.7%
Chevron Corp.		263,696		32,244,747
EOG Resources, Inc.		322,751		41,173,345
Exxon Mobil Corp.		382,454		32,516,239
Occidental Petroleum Corp.		333,334		27,390,055
				133,324,386
Pharmaceuticals—7.5%
Johnson & Johnson		939,863		129,860,871
Merck & Co., Inc.		504,189		35,767,168
Novartis AG		97,358		8,388,213
Pfizer, Inc.		2,150,480		94,771,653
Roche Holding AG		27,933		6,759,208
				275,547,113
Professional Services—0.6%
Equifax, Inc.		161,023		21,024,773
Road & Rail—1.8%
Canadian National Railway Co.		250,506		22,495,439
Union Pacific Corp.		273,674		44,562,337
				67,057,776

Security Description	Shares/ Principal Amount*		Value
Semiconductors & Semiconductor Equipment—2.0%
Analog Devices, Inc. (b)		156,444	$	14,464,812
Texas Instruments, Inc.		552,852		59,315,491
				73,780,303
Textiles, Apparel & Luxury Goods—0.4%
Hanesbrands, Inc. (b)		774,641		14,276,634
Tobacco—3.2%
Altria Group, Inc.		454,448		27,407,759
Philip Morris International, Inc. (b)		1,117,933		91,156,257
				118,564,016
Trading Companies & Distributors—0.2%
HD Supply Holdings, Inc. (a) (b)		178,814		7,651,451
Total Common Stocks (Cost $2,668,076,862)				3,612,721,145
Short-Term Investments—0.9%
Discount Note—0.9%
Federal Home Loan Bank Zero Coupon, 10/01/18 (c)		32,852,000		32,852,000
Repurchase Agreement—0.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $174,006; collateralized by U.S. Treasury Note at 2.000%, maturing 04/30/24, with a market value of $182,033.		173,991		173,991
Total Short-Term Investments (Cost $33,025,991)				33,025,991
Securities Lending Reinvestments (d)—10.0%
Certificates of Deposit—4.6%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (e)		7,000,000		6,999,881
2.466%, 1M LIBOR + 0.250%, 03/20/19 (e)		5,000,000		4,999,740
Banco Santander S.A. 2.340%, 11/07/18		2,000,000		2,000,164
Bank of Montreal Zero Coupon, 10/31/18		6,985,081		6,986,437
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (e)		7,000,000		6,999,986
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (e)		7,000,000		7,006,678
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (e)		3,500,000		3,499,290
BNP Paribas New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (e)		9,000,000		9,005,283
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (e)		5,000,000		5,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (e)		2,500,000		2,500,895

BHFTII-247

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Cooperative Rabobank UA 2.474%, 1M LIBOR + 0.370%, 10/01/18 (e)		4,500,000	$	4,500,054
2.479%, 3M LIBOR + 0.140%, 10/16/18 (e)		3,500,000		3,500,262
2.543%, 3M LIBOR + 0.200%, 04/05/19 (e)		4,000,000		4,003,064
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		4,000,000		4,000,052
2.500%, 11/15/18		7,000,000		6,999,832
2.530%, 12/24/18		5,000,000		4,999,890
KBC Bank NV 2.400%, 12/27/18		10,000,000		10,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		12,000,000		12,000,024
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		3,969,950		3,970,777
Natixis S.A. New York 2.504%, 1M LIBOR + 0.370%, 02/14/19 (e)		4,000,000		4,002,676
2.533%, 3M LIBOR + 0.190%, 02/01/19 (e)		3,000,000		3,000,243
Nordea Bank New York 2.543%, 3M LIBOR + 0.200%, 04/05/19 (e)		4,000,000		4,000,000
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (e)		7,000,000		6,999,615
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (e)		7,000,000		6,999,181
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (e)		8,000,000		7,999,624
Sumitomo Mitsui Banking Corp., New York 2.276%, 1M LIBOR + 0.200%, 04/03/19 (e)		2,001,364		1,999,742
Sumitomo Mitsui Trust Bank, Ltd. 2.528%, 1M LIBOR + 0.310%, 11/26/18 (e)		8,000,000		8,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (e)		2,000,000		2,000,238
2.554%, 1M LIBOR + 0.450%, 04/03/19 (e)		5,000,000		5,007,375
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (e)		5,000,000		5,000,000
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (e)		4,500,000		4,502,390
				168,483,393
Commercial Paper—1.3%
Bank of China, Ltd. 2.510%, 11/02/18		1,987,311		1,995,600
2.550%, 10/19/18		1,987,675		1,997,432
2.550%, 12/20/18		5,961,750		5,965,482
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (e)		10,000,000		10,005,110
LMA S.A. & LMA Americas 2.470%, 11/13/18		4,939,965		4,985,545
Sheffield Receivables Co. 2.490%, 11/26/18		9,375,811		9,463,510
2.510%, SOFR + 0.350%, 11/28/18 (e)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000		997,834
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (e)		12,000,000		12,011,076
				47,921,726

Security Description	Principal Amount*		Value
Repurchase Agreements—3.6%
Citigroup Global Markets, Inc. Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $8,057,111; collateralized by various Common Stock with an aggregate market value of $8,800,001.		8,000,000	$	8,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $3,370,453; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $3,264,000.		3,200,000		3,200,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $7,101,325; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $7,242,001.		7,100,000		7,100,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,600,859; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $4,692,003.		4,600,000		4,600,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $6,501,213; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $6,630,000.		6,500,000		6,500,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $3,158,418; collateralized by various Common Stock with an aggregate market value of $3,451,300.		3,100,000		3,100,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $4,317,054; collateralized by various Common Stock with an aggregate market value of $4,778,357.		4,300,000		4,300,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $762,788; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $777,307.		762,648		762,648
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $3,816,512; collateralized by various Common Stock with an aggregate market value of $3,960,000.		3,600,000		3,600,000
Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $5,195,311; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000

BHFTII-248

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000	$	20,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $7,750,670; collateralized by various Common Stock with an aggregate market value of $8,456,179.		7,600,000		7,600,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $7,090,545; collateralized by various Common Stock with an aggregate market value of $7,788,586.		7,000,000		7,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $9,018,214; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $9,884,771.		8,900,000		8,900,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $11,849,399; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $12,994,586.		11,700,000		11,700,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $11,136,932; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $12,217,132.		11,000,000		11,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $2,023,998; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,221,297.		2,000,000		2,000,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $7,582,875; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,329,863.		7,500,000		7,500,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $7,341,282; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,107,733.		7,300,000		7,300,000
				129,162,648

Security Description	Principal Amount*		Value
Time Deposits—0.5%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		4,000,000	$	4,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		2,000,000		2,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		10,000,000		10,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000		1,000,000
				19,000,000
Total Securities Lending Reinvestments (Cost $364,525,325)				364,567,767
Total Investments—109.9% (Cost $3,065,628,178)				4,010,314,903
Other assets and liabilities (net)—(9.9)%				(359,730,363	)
Net Assets—100.0%			$	3,650,584,540

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $356,378,187 and the collateral received consisted of cash in the amount of $364,365,555. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	The rate shown represents current yield to maturity.
(d)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-249

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	137,276,937	$	—		$	—	$	137,276,937
Air Freight & Logistics		21,378,209		—			—		21,378,209
Auto Components		27,348,624		—			—		27,348,624
Automobiles		5,181,550		—			—		5,181,550
Banks		496,837,316		—			—		496,837,316
Beverages		17,667,195		42,136,115			—		59,803,310
Building Products		60,233,880		—			—		60,233,880
Capital Markets		272,686,021		—			—		272,686,021
Chemicals		113,674,614		—			—		113,674,614
Consumer Finance		41,849,079		—			—		41,849,079
Containers & Packaging		13,384,704		—			—		13,384,704
Diversified Telecommunication Services		29,946,718		—			—		29,946,718
Electric Utilities		104,301,696		—			—		104,301,696
Electrical Equipment		38,638,649		—			—		38,638,649
Energy Equipment & Services		55,185,174		—			—		55,185,174
Equity Real Estate Investment Trusts		12,821,450		—			—		12,821,450
Food Products		73,504,463		74,017,706			—		147,522,169
Health Care Equipment & Supplies		208,932,097		—			—		208,932,097
Health Care Providers & Services		86,750,883		—			—		86,750,883
Household Durables		7,114,602		—			—		7,114,602
Household Products		26,979,352		19,389,218			—		46,368,570
Industrial Conglomerates		119,021,539		—			—		119,021,539
Insurance		255,818,666		—			—		255,818,666
IT Services		236,356,321		—			—		236,356,321
Life Sciences Tools & Services		55,378,579		—			—		55,378,579
Machinery		95,591,144		—			—		95,591,144
Media		152,092,192		—			—		152,092,192
Oil, Gas & Consumable Fuels		133,324,386		—			—		133,324,386
Pharmaceuticals		260,399,692		15,147,421			—		275,547,113
Professional Services		21,024,773		—			—		21,024,773
Road & Rail		67,057,776		—			—		67,057,776
Semiconductors & Semiconductor Equipment		73,780,303		—			—		73,780,303
Textiles, Apparel & Luxury Goods		14,276,634		—			—		14,276,634
Tobacco		118,564,016		—			—		118,564,016
Trading Companies & Distributors		7,651,451		—			—		7,651,451
Total Common Stocks		3,462,030,685		150,690,460			—		3,612,721,145
Total Short-Term Investments*		—		33,025,991			—		33,025,991
Securities Lending Reinvestments*		—		364,567,767			—		364,567,767
Total Investments	$	3,462,030,685	$	548,284,218		$	—	$	4,010,314,903
Collateral for Securities Loaned (Liability)	$	—	$	(364,365,555	)	$	—	$	(364,365,555	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-250

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.1% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.4%
Astronics Corp. (a)		95,222	$	4,142,157
Air Freight & Logistics—0.6%
Forward Air Corp.		94,226		6,756,004
Airlines—0.6%
Allegiant Travel Co.		51,325		6,508,010
Auto Components—1.7%
Fox Factory Holding Corp. (a)		157,870		11,058,793
LCI Industries		96,630		8,000,964
				19,059,757
Automobiles—0.3%
Thor Industries, Inc.		40,040		3,351,348
Banks—11.1%
Bank of Hawaii Corp.		181,240		14,301,648
Bank OZK		252,871		9,598,983
BOK Financial Corp.		114,152		11,104,707
Columbia Banking System, Inc.		200,265		7,764,274
Community Bank System, Inc.		134,912		8,239,076
Cullen/Frost Bankers, Inc.		136,743		14,281,439
CVB Financial Corp.		490,060		10,938,139
First Financial Bankshares, Inc.		233,705		13,811,966
First Hawaiian, Inc.		232,462		6,313,668
FNB Corp.		379,833		4,831,476
Glacier Bancorp, Inc.		149,105		6,424,934
Lakeland Financial Corp.		72,500		3,369,800
LegacyTexas Financial Group, Inc.		189,930		8,091,018
PacWest Bancorp		115,333		5,495,617
				124,566,745
Beverages—0.8%
MGP Ingredients, Inc.		110,105		8,696,093
Biotechnology—0.5%
Abcam plc		208,040		3,882,917
Emergent BioSolutions, Inc. (a)		24,300		1,599,669
				5,482,586
Building Products—1.8%
A.O. Smith Corp.		132,510		7,072,059
AAON, Inc.		274,407		10,372,585
Patrick Industries, Inc. (a)		44,237		2,618,830
				20,063,474
Capital Markets—2.6%
Artisan Partners Asset Management, Inc. - Class A		129,060		4,181,544
BrightSphere Investment Group plc		266,410		3,303,484
FactSet Research Systems, Inc.		30,900		6,912,639
Houlihan Lokey, Inc.		74,060		3,327,516
MarketAxess Holdings, Inc.		65,875		11,758,029
				29,483,212

Security Description	Shares		Value
Chemicals—3.6%
Balchem Corp.		49,083	$	5,501,713
Chase Corp.		40,995		4,925,549
Ingevity Corp. (a)		10,050		1,023,894
Innophos Holdings, Inc.		41,230		1,830,612
NewMarket Corp.		11,662		4,729,058
Quaker Chemical Corp.		51,675		10,449,202
Sensient Technologies Corp.		151,450		11,587,440
				40,047,468
Commercial Services & Supplies—3.6%
Healthcare Services Group, Inc.		181,059		7,354,617
MSA Safety, Inc.		80,260		8,542,874
Rollins, Inc.		290,895		17,654,418
UniFirst Corp.		36,725		6,377,296
				39,929,205
Communications Equipment—0.8%
NetScout Systems, Inc. (a)		367,230		9,272,557
Construction & Engineering—0.8%
Valmont Industries, Inc.		66,320		9,185,320
Construction Materials—1.0%
Eagle Materials, Inc.		129,450		11,034,318
Containers & Packaging—1.2%
AptarGroup, Inc.		120,419		12,973,943
Distributors—2.3%
Pool Corp.		157,065		26,211,007
Diversified Consumer Services—1.0%
Bright Horizons Family Solutions, Inc. (a)		96,410		11,360,954
Electrical Equipment—0.6%
AZZ, Inc.		139,505		7,045,002
Electronic Equipment, Instruments & Components—6.3%
Cognex Corp.		209,420		11,689,824
Littelfuse, Inc.		85,170		16,854,291
Nlight, Inc. (a)		90,870		2,018,223
Novanta, Inc. (a)		127,020		8,688,168
Rogers Corp. (a)		127,905		18,842,965
Zebra Technologies Corp. - Class A (a)		70,527		12,471,289
				70,564,760
Energy Equipment & Services—1.5%
Apergy Corp. (a)		117,740		5,128,755
Cactus, Inc. - Class A (a)		87,235		3,339,356
Computer Modelling Group, Ltd.		377,465		2,439,405
Pason Systems, Inc.		398,480		6,091,444
				16,998,960
Food Products—2.3%
Calavo Growers, Inc.		86,655		8,370,873

BHFTII-251

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Food Products—(Continued)
J&J Snack Foods Corp.		43,109	$	6,504,717
Lancaster Colony Corp.		73,270		10,932,617
				25,808,207
Health Care Equipment & Supplies—7.4%
Atrion Corp.		9,885		6,868,098
Cantel Medical Corp.		116,342		10,710,445
Haemonetics Corp. (a)		105,921		12,136,428
Heska Corp. (a)		42,335		4,796,979
IDEXX Laboratories, Inc. (a)		82,110		20,499,583
Neogen Corp. (a)		47,045		3,365,129
West Pharmaceutical Services, Inc.		200,916		24,807,098
				83,183,760
Health Care Providers & Services—3.2%
Chemed Corp.		48,965		15,648,235
Henry Schein, Inc. (a)		97,975		8,330,814
Tivity Health, Inc. (a)		129,145		4,152,012
U.S. Physical Therapy, Inc.		61,940		7,346,084
				35,477,145
Hotels, Restaurants & Leisure—1.5%
Cheesecake Factory, Inc. (The)		59,330		3,176,528
Cracker Barrel Old Country Store, Inc.		20,845		3,066,925
Texas Roadhouse, Inc.		144,325		10,000,279
				16,243,732
Household Durables—0.2%
Installed Building Products, Inc. (a)		58,075		2,264,925
Household Products—2.1%
Church & Dwight Co., Inc.		259,365		15,398,500
WD-40 Co.		49,065		8,444,087
				23,842,587
Industrial Conglomerates—0.5%
Raven Industries, Inc.		109,564		5,012,553
Insurance—1.5%
AMERISAFE, Inc.		78,075		4,836,746
RLI Corp.		155,330		12,205,832
				17,042,578
IT Services—1.5%
Jack Henry & Associates, Inc.		105,415		16,874,833
Life Sciences Tools & Services—2.7%
Bio-Techne Corp.		106,350		21,707,098
ICON plc (a)		56,162		8,634,908
				30,342,006
Machinery—6.1%
Graco, Inc.		147,830		6,850,442
Lindsay Corp.		52,170		5,229,521
Machinery—(Continued)
Middleby Corp. (The) (a)		80,585		10,423,670
Nordson Corp.		72,422		10,059,416
RBC Bearings, Inc. (a)		118,575		17,828,937
Toro Co. (The)		198,750		11,919,037
Wabtec Corp.		58,550		6,140,724
				68,451,747
Media—2.7%
Cable One, Inc.		7,845		6,931,920
Gray Television, Inc. (a)		374,790		6,558,825
Nexstar Media Group, Inc. - Class A		203,060		16,529,084
				30,019,829
Multiline Retail—0.4%
Ollie’s Bargain Outlet Holdings, Inc. (a)		50,000		4,805,000
Oil, Gas & Consumable Fuels—3.7%
Centennial Resource Development, Inc. - Class A (a)		780,500		17,053,925
Concho Resources, Inc. (a)		37,912		5,791,058
Matador Resources Co. (a)		337,135		11,142,312
WPX Energy, Inc. (a)		382,050		7,686,846
				41,674,141
Paper & Forest Products—0.8%
Stella-Jones, Inc.		265,490		8,887,692
Professional Services—1.2%
Exponent, Inc.		257,027		13,776,647
Real Estate Management & Development—0.6%
FirstService Corp.		78,075		6,609,830
Semiconductors & Semiconductor Equipment—2.6%
Cabot Microelectronics Corp.		82,345		8,495,534
MKS Instruments, Inc.		88,355		7,081,653
Power Integrations, Inc.		211,060		13,338,992
				28,916,179
Software—10.5%
Altair Engineering, Inc. - Class A (a)		139,855		6,076,700
Aspen Technology, Inc. (a)		240,510		27,396,494
Blackline, Inc. (a)		17,550		991,048
Constellation Software, Inc.		7,200		5,294,828
Fair Isaac Corp. (a)		83,850		19,163,917
Manhattan Associates, Inc. (a)		342,971		18,726,217
Monotype Imaging Holdings, Inc.		155,728		3,145,706
Qualys, Inc. (a)		176,175		15,697,192
Tyler Technologies, Inc. (a)		86,735		21,255,279
				117,747,381
Specialty Retail—2.5%
Asbury Automotive Group, Inc. (a)		65,520		4,504,500
Floor & Decor Holdings, Inc. - Class A (a)		88,705		2,676,230
Lithia Motors, Inc. - Class A		82,545		6,740,624

BHFTII-252

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Specialty Retail—(Continued)
Monro, Inc.		104,410	$	7,266,936
Tractor Supply Co.		74,435		6,764,653
				27,952,943
Trading Companies & Distributors—2.0%
Applied Industrial Technologies, Inc.		41,046		3,211,850
Richelieu Hardware, Ltd.		133,150		3,082,248
SiteOne Landscape Supply, Inc. (a)		67,750		5,104,285
Watsco, Inc.		59,665		10,626,336
				22,024,719
Total Common Stocks (Cost $671,726,230)				1,109,691,314

Short-Term Investment—1.1%
Security Description	Principal Amount*		Value
Repurchase Agreement—1.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $12,475,834; collateralized by U.S. Treasury Note at 2.250%, maturing 10/31/24, with a market value of $12,727,004.		12,474,795	$	12,474,795
Total Short-Term Investments (Cost $12,474,795)				12,474,795
Total Investments—100.2% (Cost $684,201,025)				1,122,166,109
Other assets and liabilities (net)—(0.2)%				(1,928,418	)
Net Assets—100.0%			$	1,120,237,691

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	4,142,157	$	—	$	—	$	4,142,157
Air Freight & Logistics		6,756,004		—		—		6,756,004
Airlines		6,508,010		—		—		6,508,010
Auto Components		19,059,757		—		—		19,059,757
Automobiles		3,351,348		—		—		3,351,348
Banks		124,566,745		—		—		124,566,745
Beverages		8,696,093		—		—		8,696,093
Biotechnology		1,599,669		3,882,917		—		5,482,586
Building Products		20,063,474		—		—		20,063,474
Capital Markets		29,483,212		—		—		29,483,212
Chemicals		40,047,468		—		—		40,047,468
Commercial Services & Supplies		39,929,205		—		—		39,929,205
Communications Equipment		9,272,557		—		—		9,272,557
Construction & Engineering		9,185,320		—		—		9,185,320
Construction Materials		11,034,318		—		—		11,034,318
Containers & Packaging		12,973,943		—		—		12,973,943
Distributors		26,211,007		—		—		26,211,007

BHFTII-253

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Diversified Consumer Services	$	11,360,954	$	—	$	—	$	11,360,954
Electrical Equipment		7,045,002		—		—		7,045,002
Electronic Equipment, Instruments & Components		70,564,760		—		—		70,564,760
Energy Equipment & Services		16,998,960		—		—		16,998,960
Food Products		25,808,207		—		—		25,808,207
Health Care Equipment & Supplies		83,183,760		—		—		83,183,760
Health Care Providers & Services		35,477,145		—		—		35,477,145
Hotels, Restaurants & Leisure		16,243,732		—		—		16,243,732
Household Durables		2,264,925		—		—		2,264,925
Household Products		23,842,587		—		—		23,842,587
Industrial Conglomerates		5,012,553		—		—		5,012,553
Insurance		17,042,578		—		—		17,042,578
IT Services		16,874,833		—		—		16,874,833
Life Sciences Tools & Services		30,342,006		—		—		30,342,006
Machinery		68,451,747		—		—		68,451,747
Media		30,019,829		—		—		30,019,829
Multiline Retail		4,805,000		—		—		4,805,000
Oil, Gas & Consumable Fuels		41,674,141		—		—		41,674,141
Paper & Forest Products		—		8,887,692		—		8,887,692
Professional Services		13,776,647		—		—		13,776,647
Real Estate Management & Development		6,609,830		—		—		6,609,830
Semiconductors & Semiconductor Equipment		28,916,179		—		—		28,916,179
Software		117,747,381		—		—		117,747,381
Specialty Retail		27,952,943		—		—		27,952,943
Trading Companies & Distributors		18,942,471		3,082,248		—		22,024,719
Total Common Stocks		1,093,838,457		15,852,857		—		1,109,691,314
Total Short-Term Investment*		—		12,474,795		—		12,474,795
Total Investments	$	1,093,838,457	$	28,327,652	$	—	$	1,122,166,109

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $2,646,356 were due to a lack of trading activity in the security which led to it being valued using significant observable inputs other than a quoted price in an active market.

BHFTII-254

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—98.0% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.1%
Boeing Co. (The)		220,044	$	81,834,364
Northrop Grumman Corp.		63,100		20,026,047
				101,860,411
Auto Components—0.8%
Aptiv plc		242,500		20,345,750
Automobiles—2.5%
Ferrari NV		107,663		14,740,141
Tesla, Inc. (a) (b)		180,065		47,675,810
				62,415,951
Banks—0.9%
First Republic Bank (a)		43,505		4,176,480
JPMorgan Chase & Co.		161,119		18,180,668
				22,357,148
Beverages—0.2%
PepsiCo, Inc.		41,699		4,661,948
Biotechnology—2.7%
Alexion Pharmaceuticals, Inc. (b)		156,584		21,766,742
Celgene Corp. (b)		123,900		11,087,811
Vertex Pharmaceuticals, Inc. (b)		181,641		35,009,486
				67,864,039
Capital Markets—3.7%
Charles Schwab Corp. (The)		576,054		28,313,054
Intercontinental Exchange, Inc.		264,234		19,788,484
Morgan Stanley		310,900		14,478,613
TD Ameritrade Holding Corp. (a)		557,923		29,475,072
				92,055,223
Chemicals—0.6%
DowDuPont, Inc.		220,800		14,199,648
Electric Utilities—0.4%
NextEra Energy, Inc.		52,400		8,782,240
Entertainment—4.2%
Activision Blizzard, Inc.		207,800		17,286,882
Electronic Arts, Inc. (b)		159,394		19,205,383
Netflix, Inc. (b)		98,209		36,742,933
Walt Disney Co. (The)		266,972		31,219,706
				104,454,904
Equity Real Estate Investment Trusts—1.2%
Crown Castle International Corp.		276,786		30,814,585
Health Care Equipment & Supplies—5.6%
Becton Dickinson & Co.		196,086		51,178,446
Intuitive Surgical, Inc. (b)		73,000		41,902,000
Stryker Corp.		249,606		44,349,994
				137,430,440
Health Care Providers & Services—6.3%
Anthem, Inc.		116,317		31,876,674
Centene Corp. (b)		147,376		21,337,097
Cigna Corp.		137,584		28,651,868
HCA Healthcare, Inc.		9,351		1,300,911
UnitedHealth Group, Inc.		237,686		63,233,983
WellCare Health Plans, Inc. (b)		28,767		9,219,536
				155,620,069
Hotels, Restaurants & Leisure—2.7%
Hilton Worldwide Holdings, Inc.		66,479		5,370,174
Las Vegas Sands Corp.		229,200		13,598,436
McDonald’s Corp.		111,000		18,569,190
MGM Resorts International (a)		373,100		10,413,221
Wynn Resorts, Ltd.		152,382		19,361,657
				67,312,678
Household Durables—0.3%
NVR, Inc. (b)		3,300		8,153,640
Industrial Conglomerates—1.8%
Honeywell International, Inc.		124,199		20,666,713
Roper Technologies, Inc.		81,251		24,067,359
				44,734,072
Insurance—0.9%
Chubb, Ltd.		172,448		23,045,951
Interactive Media & Services—10.9%
Alphabet, Inc. - Class A (b)		55,370		66,836,020
Alphabet, Inc. - Class C (b)		62,038		74,040,492
Facebook, Inc. - Class A (b)		422,953		69,558,850
IAC/InterActiveCorp (b)		30,600		6,631,632
Tencent Holdings, Ltd.		1,290,485		53,325,695
				270,392,689
Internet & Direct Marketing Retail—14.5%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		305,914		50,402,391
Amazon.com, Inc. (b)		121,911		244,187,733
Booking Holdings, Inc. (a) (b)		32,595		64,668,480
				359,258,604
IT Services—10.2%
Fidelity National Information Services, Inc.		171,500		18,705,505
Fiserv, Inc. (b)		237,106		19,532,792
MasterCard, Inc. - Class A		316,058		70,357,671
PayPal Holdings, Inc. (b)		286,496		25,165,809
Visa, Inc. - Class A (a)		558,399		83,810,106
Worldpay, Inc. - Class A (b)		358,290		36,284,028
				253,855,911
Machinery—1.4%
Fortive Corp. (a)		265,680		22,370,256
Wabtec Corp. (a)		110,657		11,605,706
				33,975,962

BHFTII-255

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Multi-Utilities—0.8%
Sempra Energy (a)		165,191	$	18,790,476
Multiline Retail—1.6%
Dollar General Corp.		82,743		9,043,810
Dollar Tree, Inc. (a) (b)		220,351		17,969,624
Dollarama, Inc.		372,831		11,745,050
				38,758,484
Professional Services—1.6%
Equifax, Inc.		147,992		19,323,316
TransUnion		289,752		21,319,952
				40,643,268
Real Estate Management & Development—0.0%
WeWork Cos., Inc. - Class A (b) (c) (d) (e)		2,563		168,492
Semiconductors & Semiconductor Equipment—1.9%
ASML Holding NV		81,000		15,229,620
NVIDIA Corp.		116,700		32,795,034
				48,024,654
Software—12.6%
Intuit, Inc.		154,135		35,050,299
Microsoft Corp.		1,140,837		130,477,528
Red Hat, Inc. (a) (b)		204,761		27,904,829
Salesforce.com, Inc. (b)		230,666		36,682,814
ServiceNow, Inc. (a) (b)		70,707		13,832,410
Symantec Corp.		1,312,195		27,923,510
UBER Technologies, Inc. - Series A (b) (c) (d) (e)		4,669		227,718
VMware, Inc. - Class A (b)		129,056		20,140,479
Workday, Inc. - Class A (a) (b)		131,896		19,254,178
				311,493,765
Technology Hardware, Storage & Peripherals—1.0%
Apple, Inc.		103,698		23,408,786
Textiles, Apparel & Luxury Goods—1.0%
NIKE, Inc. - Class B		305,533		25,884,756
Tobacco—1.2%
Philip Morris International, Inc.		361,832		29,503,781
Water Utilities—0.4%
American Water Works Co., Inc. (a)		98,748		8,686,862
Total Common Stocks (Cost $1,672,384,980)				2,428,955,187
Convertible Preferred Stocks—1.6%
Internet & Direct Marketing Retail—0.8%
Airbnb, Inc. - Series D (b) (c) (d) (e)		97,047		10,189,935
Airbnb, Inc. - Series E (b) (c) (d) (e)		9,760		1,024,800

Security Description	Shares/ Principal Amount*		Value
Internet & Direct Marketing Retail—(Continued)
ANT International Co., Ltd. - Class C (b) (c) (d) (e)		1,458,697	$	8,183,290
				19,398,025
Real Estate Management & Development—0.2%
WeWork Cos., Inc. - Series E (b) (c) (d) (e)		64,744		4,256,270
Software—0.6%
Magic Leap, Inc. - Series C (b) (c) (d) (e)		124,428		3,359,556
Magic Leap, Inc. - Series D (b) (c) (d) (e)		90,348		2,439,396
UBER Technologies, Inc. (b) (c) (d) (e)		1,703		83,059
UBER Technologies, Inc. - Series A (b) (c) (d) (e)		665		32,434
UBER Technologies, Inc. - Series B (b) (c) (d) (e)		1,785		87,058
UBER Technologies, Inc. - Series C-1 (b) (c) (d) (e)		472		23,020
UBER Technologies, Inc. - Series C-2 (b) (c) (d) (e)		382		18,631
UBER Technologies, Inc. - Series C-3 (b) (c) (d) (e)		5		244
UBER Technologies, Inc. - Series D (b) (c) (d) (e)		424		20,679
UBER Technologies, Inc. - Series E (b) (c) (d) (e)		204		9,950
UBER Technologies, Inc. - Series G (b) (c) (d) (e)		98,227		4,790,750
UBER Technologies, Inc. - Series G-1 (b) (c) (d) (e)		1,024		49,943
Xiaoju Kuaizhi, Inc. - Series A-17, (b) (c) (d) (e)		91,053		4,637,521
				15,552,241
Total Convertible Preferred Stocks (Cost $28,001,590)				39,206,536
Corporate Bonds & Notes—0.2%
Lodging—0.2%
Caesars Entertainment Corp. 5.000%, 10/01/24 (Cost $5,801,535)		3,089,799		5,032,006
Short-Term Investment—0.1%
Mutual Fund—0.1%
T. Rowe Price Government Reserve Fund (f)		2,152,056		2,152,056
Total Short-Term Investments (Cost $2,152,056)				2,152,056
Securities Lending Reinvestments (g)—12.8%
Certificates of Deposit—5.8%
Banco Del Estado De Chile New York 2.398%, 1M LIBOR + 0.240%, 01/17/19 (h)		1,000,000		1,000,252
2.419%, 3M LIBOR + 0.100%, 11/14/18 (h)		5,500,000		5,499,906
2.466%, 1M LIBOR + 0.250%, 03/20/19 (h)		3,000,000		2,999,844
Banco Santander S.A. 2.340%, 11/07/18		3,500,000		3,500,287
Bank of Montreal Zero Coupon, 10/31/18		11,974,425		11,976,750
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (h)		3,000,000		2,999,994

BHFTII-256

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (h)		4,000,000	$	4,003,816
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (h)		1,500,000		1,499,696
2.500%, 02/01/19		2,000,000		1,999,972
BNP Paribas S.A. New York 2.574%, 1M LIBOR + 0.470%, 12/04/18 (h)		2,000,000		2,001,174
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (h)		2,500,000		2,500,742
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (h)		2,000,000		2,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (h)		2,000,000		2,000,716
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (h)		4,000,000		4,000,300
2.543%, 3M LIBOR + 0.200%, 04/05/19 (h)		2,000,000		2,001,532
Credit Industriel et Commercial Zero Coupon, 01/25/19		6,342,941		6,373,793
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		4,000,000		4,000,052
2.500%, 11/15/18		3,000,000		2,999,928
KBC Bank NV 2.400%, 12/27/18		5,000,000		5,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		12,000,000		12,000,024
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		3,969,950		3,970,777
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (h)		2,500,000		2,499,802
2.533%, 3M LIBOR + 0.190%, 02/01/19 (h)		3,000,000		3,000,243
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (h)		7,000,000		6,999,615
2.381%, 1M LIBOR + 0.250%, 01/11/19 (h)		6,000,000		6,001,980
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (h)		6,000,000		5,999,298
2.551%, 1M LIBOR + 0.420%, 10/11/18 (h)		1,000,000		1,000,050
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (h)		4,000,000		3,999,812
Sumitomo Mitsui Banking Corp., New York 2.276%, 1M LIBOR + 0.200%, 04/03/19 (h)		2,001,364		1,999,742
2.290%, 1M LIBOR + 0.180%, 03/05/19 (h)		3,000,000		2,999,649
Sumitomo Mitsui Trust Bank, Ltd. 2.423%, 3M LIBOR + 0.090%, 10/18/18 (h)		3,000,377		2,999,979
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (h)		2,000,000		2,000,238
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (h)		5,000,000		5,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (h)		9,000,000		9,001,026
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (h)		5,500,000		5,502,921
				143,333,910
Commercial Paper—1.4%
Bank of China, Ltd. 2.510%, 11/02/18		993,655		997,800
2.550%, 10/19/18		3,975,350		3,994,864
2.550%, 12/20/18		3,974,500		3,976,988

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (h)		2,000,000	$	2,000,206
2.453%, 1M LIBOR + 0.320%, 02/08/19 (h)		8,000,000		8,004,088
Sheffield Receivables Co. 2.490%, 11/26/18		4,934,638		4,980,795
2.510%, SOFR + 0.350%, 11/28/18 (h)		500,000		500,137
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		1,988,000		1,995,668
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (h)		5,000,000		5,004,615
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (h)		3,000,000		3,001,662
				34,456,823
Master Demand Notes—0.2%
Natixis Financial Products LLC 2.420%, OBFR + 0.250%, 10/01/18 (h)		5,000,000		5,000,000
Repurchase Agreements—4.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $5,052,528; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $5,271,430.		5,000,000		5,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $3,524,986; collateralized by various Common Stock with an aggregate market value of $3,850,000.		3,500,000		3,500,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $1,579,900; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $1,530,000.		1,500,000		1,500,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $969,452; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.500%, maturity dates ranging from 10/25/18 - 02/15/43, and an aggregate market value of $988,660.		969,274		969,274
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,900,915; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $4,998,001.		4,900,000		4,900,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $3,100,579; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $3,162,002.		3,100,000		3,100,000

BHFTII-257

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,600,859; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $4,692,000.		4,600,000	$	4,600,000
Deutsche Bank AG, London Repurchase Agreement dated 09/28/18 at 2.250%, due on 10/01/18 with a maturity value of $2,000,375; collateralized by Foreign Obligations with rates ranging from 1.750% - 2.625%, maturity dates ranging from 04/01/19 - 07/27/26, and an aggregate market value of $2,040,006.		2,000,000		2,000,000
Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $1,018,844; collateralized by various Common Stock with an aggregate market value of $1,113,323.		1,000,000		1,000,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $3,011,898; collateralized by various Common Stock with an aggregate market value of $3,333,738.		3,000,000		3,000,000
Macquarie Bank, Ltd., London Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $1,853,169; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 5.500%, maturity dates ranging from 08/31/19 - 05/15/48, and an aggregate market value of $1,888,445.		1,852,829		1,852,829
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $7,792,967; collateralized by various Common Stock with an aggregate market value of $8,250,001.		7,500,000		7,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $10,004,803; collateralized by various Common Stock with an aggregate market value of $11,002,143.		10,000,000		10,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $5,303,090; collateralized by various Common Stock with an aggregate market value of $5,785,807.		5,200,000		5,200,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $4,862,088; collateralized by various Common Stock with an aggregate market value of $5,340,745.		4,800,000		4,800,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $5,026,004; collateralized by various Common Stock with an aggregate market value of $5,563,721.		5,000,000		5,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $6,282,352; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $6,886,020.		6,200,000	$	6,200,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $7,595,769; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,329,863.		7,500,000		7,500,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $4,049,793; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,442,594.		4,000,000		4,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $7,792,394; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,551,993.		7,700,000		7,700,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $4,324,317; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $4,775,788.		4,300,000		4,300,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $8,076,960; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $8,885,187.		8,000,000		8,000,000
				101,622,103
Time Deposits—1.3%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		10,000,000		10,000,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		5,000,000		5,000,000
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		15,000,000		15,000,000

BHFTII-258

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000	$	1,000,000
				33,000,000
Total Securities Lending Reinvestments (Cost $317,389,275)				317,412,836
Total Investments—112.7% (Cost $2,025,729,436)				2,792,758,621
Other assets and liabilities (net)—(12.7)%				(314,103,890	)
Net Assets—100.0%			$	2,478,654,731

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $302,700,492 and the collateral received consisted of cash in the amount of $317,277,302. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent 1.6% of net assets.
(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of September 30, 2018, the market value of restricted securities was $39,602,746, which is 1.6% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(f)	Affiliated Issuer.
(g)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(h)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate
(SOFR)—	Secured Overnight Financing Rate

Restricted Securities	Acquisition Date		Shares		Cost		Value
ANT International Co., Ltd. - Class C		06/07/18		1,458,697	$	8,183,290	$	8,183,290
Airbnb, Inc. - Series D		04/16/14		97,047		3,951,078		10,189,935
Airbnb, Inc. - Series E		01/28/16		9,760		908,601		1,024,800
Magic Leap, Inc. - Series C		01/20/16		124,428		2,865,950		3,359,556
Magic Leap, Inc. - Series D		10/12/17		90,348		2,439,396		2,439,396
UBER Technologies, Inc.		01/16/18		1,703		56,146		83,059
UBER Technologies, Inc. - Series A		01/16/18		4,669		153,932		227,718
UBER Technologies, Inc. - Series A		01/16/18		665		21,924		32,434
UBER Technologies, Inc. - Series B		01/16/18		1,785		58,850		87,058
UBER Technologies, Inc. - Series C-1		01/16/18		472		15,561		23,020
UBER Technologies, Inc. - Series C-2		01/16/18		382		12,594		18,631
UBER Technologies, Inc. - Series C-3		01/16/18		5		165		244
UBER Technologies, Inc. - Series D		01/16/18		424		13,979		20,679
UBER Technologies, Inc. - Series E		01/16/18		204		6,726		9,950
UBER Technologies, Inc. - Series G		01/16/18		98,227		4,790,747		4,790,750
UBER Technologies, Inc. - Series G-1		01/16/18		1,024		49,943		49,943
WeWork Cos., Inc. - Class A		06/23/15		2,563		84,296		168,492
WeWork Cos., Inc. - Series E		06/23/15		64,744		2,129,402		4,256,270
Xiaoju Kuaizhi, Inc. - Series A-17		10/19/15		91,053		2,497,238		4,637,521
							$	39,602,746

BHFTII-259

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	101,860,411	$	—		$	—	$	101,860,411
Auto Components		20,345,750		—			—		20,345,750
Automobiles		62,415,951		—			—		62,415,951
Banks		22,357,148		—			—		22,357,148
Beverages		4,661,948		—			—		4,661,948
Biotechnology		67,864,039		—			—		67,864,039
Capital Markets		92,055,223		—			—		92,055,223
Chemicals		14,199,648		—			—		14,199,648
Electric Utilities		8,782,240		—			—		8,782,240
Entertainment		104,454,904		—			—		104,454,904
Equity Real Estate Investment Trusts		30,814,585		—			—		30,814,585
Health Care Equipment & Supplies		137,430,440		—			—		137,430,440
Health Care Providers & Services		155,620,069		—			—		155,620,069
Hotels, Restaurants & Leisure		67,312,678		—			—		67,312,678
Household Durables		8,153,640		—			—		8,153,640
Industrial Conglomerates		44,734,072		—			—		44,734,072
Insurance		23,045,951		—			—		23,045,951
Interactive Media & Services		217,066,994		53,325,695			—		270,392,689
Internet & Direct Marketing Retail		359,258,604		—			—		359,258,604
IT Services		253,855,911		—			—		253,855,911
Machinery		33,975,962		—			—		33,975,962
Multi-Utilities		18,790,476		—			—		18,790,476
Multiline Retail		38,758,484		—			—		38,758,484
Professional Services		40,643,268		—			—		40,643,268
Real Estate Management & Development		—		—			168,492		168,492
Semiconductors & Semiconductor Equipment		48,024,654		—			—		48,024,654
Software		311,266,047		—			227,718		311,493,765
Technology Hardware, Storage & Peripherals		23,408,786		—			—		23,408,786
Textiles, Apparel & Luxury Goods		25,884,756		—			—		25,884,756
Tobacco		29,503,781		—			—		29,503,781
Water Utilities		8,686,862		—			—		8,686,862
Total Common Stocks		2,375,233,282		53,325,695			396,210		2,428,955,187
Total Convertible Preferred Stocks*		—		—			39,206,536		39,206,536
Total Corporate Bonds & Notes*		—		5,032,006			—		5,032,006
Total Short-Term Investment*		2,152,056		—			—		2,152,056
Total Securities Lending Reinvestments*		—		317,412,836			—		317,412,836
Total Investments	$	2,377,385,338	$	375,770,537		$	39,602,746	$	2,792,758,621
Collateral for Securities Loaned (Liability)	$	—	$	(317,277,302	)	$	—	$	(317,277,302	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 3 to Level 2 in the amount of $2,514,875 were due to the initiation of trading activity which resulted in the availability of significant observable inputs.

BHFTII-260

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Investments in Securities	Balance as of December 31, 2017		Change in Unrealized Appreciation (Depreciation)			Net Purchases		Transfer out			Balance as of September 30, 2018		Change in Unrealized Appreciation (Depreciation) from Investments Held at September 30, 2018
Common Stocks
Interactive Media & Services	$	2,514,875	$	—		$	—	$	(2,514,875	)	$	—	$	—
Real Estate Management & Development		117,514		50,978			—		—			168,492		50,978
Software		—		73,786			153,932		—			227,718		73,786
Convertible Preferred Stocks
Interactive Media & Services		15,962,267		(110,011	)		8,183,290		—			24,035,546		(110,011	)
Real Estate Management & Development		2,968,512		1,287,758			—		—			4,256,270		1,287,758
Software		9,185,564		1,493,269			235,887		—			10,914,720		1,493,269
	$	30,748,732	$	2,795,780		$	8,573,109	$	(2,514,875	)	$	39,602,746	$	2,795,780

	Fair Value at September 30, 2018		Valuation Technique(s)		Unobservable Input		Range				Weighted Average		Relationship Between Fair Value and Input; if input value increases then Fair Value:
Common Stock
Real Estate Management & Development	$	168,492		Market Transaction Method		Precedent Transactions	$	26.00	$	51.81	$	45.85		Increase
				Market Aligned Multiples		Enterprise Value/Gross Profit		11.6x		13.8x		12.7x		Increase
						Enterprise Value/EBITDA		24.2x		31.1x		27.7x		Increase
						Discount for Lack of Marketability		10.00%		10.00%		10.00%		Decrease
Software		227,718		Market Transaction Method		Precedent Transaction	$	48.77	$	48.77	$	48.77		Increase
Convertible Preferred Stocks
Interactive Media & Services		11,214,735		Discounted Cash Flow		Weighted Average Cost of Capital		14.50%		16.50%		15.50%		Decrease
						Perpetual Growth Rate		3.00%		4.00%		3.50%		Increase
				Comparable Company Analysis		Enterprise Value/Revenue		8.7x		8.7x		8.7x		Increase
						Discount for Lack of Marketability		20.00%		20.00%		20.00%		Decrease
		8,183,290		Market Transaction Method		Precedent Transaction	$	5.61	$	5.61	$	5.61		Increase
		4,637,521		Market Transaction Method		Secondary Market Transaction	$	50.93	$	50.93	$	50.93		Increase
Real Estate Management & Development		4,256,270		Market Transaction Method		Precedent Transactions	$	26.00	$	51.81	$	45.85		Increase
				Market Aligned Multiples		Enterprise Value/Gross Profit		11.6x		13.8x		12.7x		Increase
						Enterprise Value/EBITDA		24.2x		31.1x		27.7x		Increase
						Discount for Lack of Marketability		10.00%		10.00%		10.00%		Decrease
Software		5,798,952		Market Transaction Method		Precedent Transaction	$	27.00	$	27.00	$	27.00		Increase
		5,115,768		Market Transaction Method		Precedent Transaction	$	48.77	$	48.77	$	48.77		Increase

BHFTII-261

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—99.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.5%
Aerojet Rocketdyne Holdings, Inc. (a) (b)		229,506	$	7,800,909
BWX Technologies, Inc.		121,833		7,619,436
Curtiss-Wright Corp.		62,559		8,596,858
HEICO Corp. - Class A		189,807		14,330,428
Hexcel Corp.		107,570		7,212,569
Moog, Inc. - Class A		80,863		6,951,792
Teledyne Technologies, Inc. (a)		60,846		15,009,491
				67,521,483
Air Freight & Logistics—0.6%
XPO Logistics, Inc. (a)		83,421		9,524,176
Airlines—0.1%
Hawaiian Holdings, Inc. (b)		42,700		1,712,270
Auto Components—0.8%
Cooper-Standard Holdings, Inc. (a)		34,397		4,126,952
LCI Industries		37,290		3,087,612
Visteon Corp. (a) (b)		52,400		4,867,960
				12,082,524
Banks—1.9%
Ameris Bancorp		106,793		4,880,440
Carolina Financial Corp.		100,219		3,780,261
CenterState Bank Corp.		196,728		5,518,220
First Bancorp		136,100		5,513,411
Hilltop Holdings, Inc.		69,116		1,394,070
Signature Bank		24,569		2,821,504
SVB Financial Group (a)		14,091		4,379,905
				28,287,811
Beverages—0.5%
Boston Beer Co., Inc. (The) - Class A (a)		17,966		5,165,225
Coca-Cola Bottling Co. Consolidated		15,400		2,807,112
				7,972,337
Biotechnology—8.8%
Abeona Therapeutics, Inc. (a) (b)		28,300		362,240
ACADIA Pharmaceuticals, Inc. (a) (b)		85,288		1,770,579
Acceleron Pharma, Inc. (a) (b)		43,867		2,510,508
Acorda Therapeutics, Inc. (a) (b)		43,323		851,297
Agios Pharmaceuticals, Inc. (a) (b)		63,543		4,900,436
Aimmune Therapeutics, Inc. (a) (b)		58,994		1,609,356
Alkermes plc (a)		44,085		1,870,967
Alnylam Pharmaceuticals, Inc. (a) (b)		8,584		751,272
AMAG Pharmaceuticals, Inc. (a)		65,284		1,305,680
Amicus Therapeutics, Inc. (a)		177,500		2,145,975
Array BioPharma, Inc. (a) (b)		226,600		3,444,320
Bluebird Bio, Inc. (a)		29,867		4,360,582
Blueprint Medicines Corp. (a) (b)		46,617		3,638,923
Clovis Oncology, Inc. (a) (b)		21,200		622,644
CRISPR Therapeutics AG (a) (b)		28,900		1,281,715
Emergent BioSolutions, Inc. (a)		94,300		6,207,769
Enanta Pharmaceuticals, Inc. (a) (b)		11,500		982,790
Exact Sciences Corp. (a)		171,600		13,542,672

Security Description	Shares		Value
Biotechnology—(Continued)
Exelixis, Inc. (a)		69,067	$	1,223,867
FibroGen, Inc. (a)		71,400		4,337,550
Genomic Health, Inc. (a)		51,200		3,595,264
Global Blood Therapeutics, Inc. (a) (b)		40,387		1,534,706
GlycoMimetics, Inc. (a)		51,900		747,360
Immunomedics, Inc. (a) (b)		98,795		2,057,900
Insmed, Inc. (a) (b)		123,284		2,492,803
Ionis Pharmaceuticals, Inc. (a)		26,886		1,386,780
Ironwood Pharmaceuticals, Inc. (a)		129,080		2,382,817
Ligand Pharmaceuticals, Inc. (a)		40,768		11,190,408
Loxo Oncology, Inc. (a)		26,900		4,595,327
Madrigal Pharmaceuticals, Inc. (a) (b)		5,100		1,092,063
Neurocrine Biosciences, Inc. (a) (b)		58,642		7,210,034
Repligen Corp. (a) (b)		70,531		3,911,649
Sage Therapeutics, Inc. (a)		49,238		6,954,868
Sarepta Therapeutics, Inc. (a) (b)		74,500		12,032,495
Seattle Genetics, Inc. (a)		34,312		2,646,141
Spark Therapeutics, Inc. (a) (b)		41,918		2,286,627
TESARO, Inc. (a) (b)		34,495		1,345,650
Ultragenyx Pharmaceutical, Inc. (a) (b)		48,196		3,679,283
uniQure NV (a)		19,600		713,244
Xencor, Inc. (a) (b)		74,100		2,887,677
				132,464,238
Building Products—1.1%
AAON, Inc. (b)		35,508		1,342,202
JELD-WEN Holding, Inc. (a) (b)		61,100		1,506,726
Lennox International, Inc. (b)		36,082		7,880,309
Patrick Industries, Inc. (a) (b)		98,935		5,856,952
				16,586,189
Capital Markets—1.9%
Cboe Global Markets, Inc.		74,316		7,131,363
E*Trade Financial Corp. (a)		70,165		3,675,944
FactSet Research Systems, Inc.		9,182		2,054,105
MarketAxess Holdings, Inc. (b)		41,695		7,442,141
MSCI, Inc.		46,116		8,181,440
				28,484,993
Chemicals—2.9%
AdvanSix, Inc. (a)		90,708		3,079,537
Chase Corp.		48,305		5,803,846
Ingevity Corp. (a)		99,168		10,103,236
Innospec, Inc.		70,478		5,409,186
Minerals Technologies, Inc.		46,331		3,131,976
NewMarket Corp. (b)		7,791		3,159,328
PolyOne Corp.		121,629		5,317,620
Quaker Chemical Corp.		5,305		1,072,724
Scotts Miracle-Gro Co. (The) (b)		55,200		4,345,896
Stepan Co.		24,600		2,140,446
				43,563,795
Commercial Services & Supplies—2.2%
Advanced Disposal Services, Inc. (a)		166,348		4,504,704
Casella Waste Systems, Inc. - Class A (a)		255,200		7,926,512

BHFTII-262

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Commercial Services & Supplies—(Continued)
Healthcare Services Group, Inc. (b)		93,412	$	3,794,395
Rollins, Inc.		142,300		8,636,187
U.S. Ecology, Inc.		64,214		4,735,783
UniFirst Corp.		22,400		3,889,760
				33,487,341
Communications Equipment—0.7%
ARRIS International plc (a)		103,507		2,690,147
EchoStar Corp. - Class A (a)		41,262		1,913,319
NetScout Systems, Inc. (a) (b)		68,269		1,723,792
Plantronics, Inc.		58,862		3,549,379
				9,876,637
Construction Materials—0.2%
Eagle Materials, Inc.		44,000		3,750,560
Consumer Finance—0.4%
PRA Group, Inc. (a) (b)		74,787		2,692,332
SLM Corp. (a)		318,600		3,552,390
				6,244,722
Containers & Packaging—0.8%
Berry Global Group, Inc. (a)		163,397		7,906,781
Graphic Packaging Holding Co.		314,719		4,409,213
				12,315,994
Distributors—0.7%
Pool Corp.		64,685		10,794,633
Diversified Consumer Services—2.8%
Bright Horizons Family Solutions, Inc. (a)		97,454		11,483,979
Grand Canyon Education, Inc. (a)		44,700		5,042,160
Service Corp. International (b)		211,732		9,358,554
ServiceMaster Global Holdings, Inc. (a)		149,107		9,249,107
Sotheby’s (a)		45,909		2,258,264
Strategic Education, Inc.		32,925		4,511,713
				41,903,777
Electrical Equipment—0.5%
Atkore International Group, Inc. (a)		162,770		4,318,288
Generac Holdings, Inc. (a)		62,602		3,531,379
				7,849,667
Electronic Equipment, Instruments & Components—3.0%
Cognex Corp.		99,490		5,553,532
Coherent, Inc. (a) (b)		43,443		7,480,450
ePlus, Inc. (a)		9,600		889,920
Littelfuse, Inc.		37,300		7,381,297
Novanta, Inc. (a)		103,600		7,086,240
OSI Systems, Inc. (a)		41,554		3,170,986
Tech Data Corp. (a) (b)		26,800		1,918,076
Zebra Technologies Corp. - Class A (a)		67,900		12,006,757
				45,487,258

Security Description	Shares		Value
Energy Equipment & Services—0.8%
Apergy Corp. (a)		108,200	$	4,713,192
Computer Modelling Group, Ltd.		54,725		358,012
Dril-Quip, Inc. (a) (b)		28,032		1,464,672
Exterran Corp. (a)		97,600		2,589,328
Oceaneering International, Inc. (a) (b)		59,673		1,646,975
RPC, Inc. (b)		116,100		1,797,228
				12,569,407
Entertainment—1.6%
Lions Gate Entertainment Corp. - Class B		109,633		2,554,449
Live Nation Entertainment, Inc. (a)		159,836		8,706,267
Take-Two Interactive Software, Inc. (a)		89,416		12,338,514
				23,599,230
Equity Real Estate Investment Trusts—2.7%
CoreSite Realty Corp.		63,170		7,020,714
CubeSmart		116,671		3,328,623
CyrusOne, Inc.		111,255		7,053,567
Empire State Realty Trust, Inc. - Class A		112,138		1,862,612
Equity Lifestyle Properties, Inc.		57,744		5,569,409
First Industrial Realty Trust, Inc.		167,150		5,248,510
Forest City Realty Trust, Inc. - Class A		111,675		2,801,926
Pebblebrook Hotel Trust (b)		36,203		1,316,703
PS Business Parks, Inc.		24,111		3,064,267
Terreno Realty Corp.		109,417		4,125,021
				41,391,352
Food & Staples Retailing—1.3%
Casey’s General Stores, Inc.		66,172		8,543,467
Performance Food Group Co. (a)		206,700		6,883,110
Sprouts Farmers Market, Inc. (a) (b)		169,000		4,632,290
				20,058,867
Food Products—1.2%
J&J Snack Foods Corp.		41,332		6,236,586
John B Sanfilippo & Son, Inc.		32,995		2,355,183
Post Holdings, Inc. (a) (b)		67,025		6,571,131
TreeHouse Foods, Inc. (a) (b)		55,344		2,648,210
				17,811,110
Health Care Equipment & Supplies—5.6%
Avanos Medical, Inc. (a)		53,988		3,698,178
Cantel Medical Corp.		75,496		6,950,162
Cooper Cos., Inc. (The) (b)		16,502		4,573,529
DexCom, Inc. (a)		20,391		2,916,729
Globus Medical, Inc. - Class A (a)		93,500		5,307,060
Haemonetics Corp. (a)		42,200		4,835,276
ICU Medical, Inc. (a)		35,474		10,030,273
Inogen, Inc. (a) (b)		47,034		11,481,940
LivaNova plc (a)		45,500		5,640,635
Masimo Corp. (a)		66,385		8,267,588
Natus Medical, Inc. (a) (b)		46,072		1,642,467
NuVasive, Inc. (a)		81,985		5,819,295
Penumbra, Inc. (a) (b)		37,169		5,564,199
West Pharmaceutical Services, Inc.		63,574		7,849,482
				84,576,813

BHFTII-263

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—3.7%
Addus HomeCare Corp. (a)		37,200	$	2,609,580
BioTelemetry, Inc. (a)		65,600		4,227,920
Chemed Corp.		27,500		8,788,450
Corvel Corp. (a)		33,549		2,021,327
Encompass Health Corp.		75,909		5,917,107
Ensign Group, Inc. (The)		95,800		3,632,736
Molina Healthcare, Inc. (a)		93,800		13,948,060
U.S. Physical Therapy, Inc.		47,758		5,664,099
WellCare Health Plans, Inc. (a)		27,199		8,717,007
				55,526,286
Health Care Technology—1.0%
Omnicell, Inc. (a) (b)		85,722		6,163,412
Tabula Rasa HealthCare, Inc. (a) (b)		34,700		2,817,293
Veeva Systems, Inc. - Class A (a)		55,562		6,049,035
				15,029,740
Hotels, Restaurants & Leisure—5.2%
Boyd Gaming Corp.		130,800		4,427,580
Cheesecake Factory, Inc. (The) (b)		54,949		2,941,970
Choice Hotels International, Inc. (b)		40,368		3,362,654
Churchill Downs, Inc.		34,319		9,530,386
Denny’s Corp. (a)		285,219		4,198,424
Domino’s Pizza, Inc.		24,062		7,093,478
Hilton Grand Vacations, Inc. (a)		135,683		4,491,107
Marriott Vacations Worldwide Corp.		19,512		2,180,466
Papa John’s International, Inc. (b)		62,764		3,218,538
Pinnacle Entertainment, Inc. (a)		225,157		7,585,539
Ruth’s Hospitality Group, Inc.		154,600		4,877,630
Six Flags Entertainment Corp. (b)		56,359		3,934,985
Texas Roadhouse, Inc. (b)		114,500		7,933,705
Vail Resorts, Inc.		44,281		12,151,592
				77,928,054
Household Durables—0.5%
Helen of Troy, Ltd. (a)		58,876		7,706,868
Independent Power and Renewable Electricity Producers—0.3%
Ormat Technologies, Inc. (b)		87,290		4,723,262
Insurance—0.9%
Heritage Insurance Holdings, Inc. (b)		47,817		708,648
Primerica, Inc.		86,509		10,428,660
Universal Insurance Holdings, Inc. (b)		43,200		2,097,360
				13,234,668
Internet & Direct Marketing Retail—1.0%
Liberty Expedia Holdings, Inc. - Class A (a)		78,775		3,705,576
Shutterfly, Inc. (a)		42,261		2,784,577
Stamps.com, Inc. (a)		35,476		8,024,671
				14,514,824
IT Services—5.4%
Booz Allen Hamilton Holding Corp.		208,345		10,340,162
Broadridge Financial Solutions, Inc.		66,563		8,782,988
IT Services—(Continued)
Cardtronics plc - Class A (a)		96,472		3,052,374
CoreLogic, Inc. (a) (b)		131,330		6,489,015
Euronet Worldwide, Inc. (a)		91,698		9,189,974
Gartner, Inc. (a) (b)		33,161		5,256,019
GTT Communications, Inc. (a) (b)		65,100		2,825,340
Jack Henry & Associates, Inc.		29,962		4,796,317
MAXIMUS, Inc.		130,834		8,512,060
Science Applications International Corp.		72,300		5,827,380
Syntel, Inc. (a)		91,600		3,753,768
Travelport Worldwide, Ltd.		193,289		3,260,785
WEX, Inc. (a)		48,674		9,771,792
				81,857,974
Leisure Products—0.5%
Brunswick Corp.		103,546		6,939,653
Life Sciences Tools & Services—2.3%
Bio-Rad Laboratories, Inc. - Class A (a)		19,389		6,068,563
Bruker Corp. (b)		55,000		1,839,750
Cambrex Corp. (a) (b)		80,963		5,537,869
Charles River Laboratories International, Inc. (a) (b)		70,297		9,457,759
PRA Health Sciences, Inc. (a)		88,562		9,758,647
Syneos Health, Inc. (a) (b)		45,886		2,365,423
				35,028,011
Machinery—3.5%
Chart Industries, Inc. (a)		32,062		2,511,416
Douglas Dynamics, Inc.		93,500		4,104,650
Graco, Inc.		142,477		6,602,384
IDEX Corp.		22,573		3,400,848
John Bean Technologies Corp. (b)		59,861		7,141,417
Lincoln Electric Holdings, Inc.		32,772		3,062,216
Lydall, Inc. (a)		89,008		3,836,245
Middleby Corp. (The) (a) (b)		25,498		3,298,166
Nordson Corp.		34,294		4,763,437
Standex International Corp.		15,402		1,605,659
Toro Co. (The) (b)		135,185		8,107,044
Woodward, Inc.		59,857		4,840,037
				53,273,519
Marine—0.1%
Matson, Inc.		26,460		1,048,874
Media—1.5%
Cable One, Inc.		11,800		10,426,598
GCI Liberty, Inc. - Class A (a)		102,114		5,207,814
Gray Television, Inc. (a)		171,054		2,993,445
MSG Networks, Inc. - Class A (a) (b)		153,300		3,955,140
				22,582,997
Metals & Mining—0.2%
Worthington Industries, Inc.		56,116		2,433,190
Multiline Retail—0.1%
Big Lots, Inc. (b)		52,058		2,175,504

BHFTII-264

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—2.8%
Carrizo Oil & Gas, Inc. (a) (b)		55,028	$	1,386,705
Centennial Resource Development, Inc. - Class A (a)		191,100		4,175,535
Diamondback Energy, Inc.		38,980		5,269,706
Matador Resources Co. (a) (b)		259,834		8,587,514
PBF Energy, Inc. - Class A (b)		116,700		5,824,497
PDC Energy, Inc. (a)		93,778		4,591,371
WPX Energy, Inc. (a)		585,858		11,787,463
				41,622,791
Paper & Forest Products—0.2%
KapStone Paper and Packaging Corp.		90,035		3,053,087
Personal Products—0.2%
Nu Skin Enterprises, Inc. - Class A		36,802		3,033,221
Pharmaceuticals—2.7%
Aerie Pharmaceuticals, Inc. (a)		47,112		2,899,744
Assertio Therapeutics, Inc. (a)		150,974		887,727
Catalent, Inc. (a)		167,570		7,632,814
Innoviva, Inc. (a)		57,530		876,757
Jazz Pharmaceuticals plc (a)		11,791		1,982,421
MyoKardia, Inc. (a)		34,137		2,225,732
Nektar Therapeutics (a)		64,244		3,916,314
Pacira Pharmaceuticals, Inc. (a)		27,307		1,342,139
Phibro Animal Health Corp. - Class A		77,841		3,339,379
Prestige Brands Holdings, Inc. (a) (b)		127,678		4,837,719
Supernus Pharmaceuticals, Inc. (a) (b)		98,334		4,951,117
TherapeuticsMD, Inc. (a) (b)		288,110		1,890,002
Theravance Biopharma, Inc. (a) (b)		64,514		2,107,672
WAVE Life Sciences, Ltd. (a)		21,287		1,064,350
				39,953,887
Professional Services—2.4%
ASGN, Inc. (a)		94,000		7,419,420
Dun & Bradstreet Corp. (The)		27,163		3,870,999
Exponent, Inc.		138,764		7,437,751
Insperity, Inc.		75,700		8,928,815
TransUnion		112,561		8,282,238
				35,939,223
Real Estate Management & Development—0.1%
Kennedy-Wilson Holdings, Inc. (b)		65,953		1,417,990
Road & Rail—1.0%
Landstar System, Inc.		55,965		6,827,730
Old Dominion Freight Line, Inc. (b)		49,246		7,941,410
				14,769,140
Semiconductors & Semiconductor Equipment—3.3%
Advanced Energy Industries, Inc. (a)		67,844		3,504,143
Cabot Microelectronics Corp.		33,683		3,475,075
Cirrus Logic, Inc. (a) (b)		114,374		4,414,836
Entegris, Inc.		112,800		3,265,560
Ichor Holdings, Ltd. (a) (b)		63,000		1,286,460
Integrated Device Technology, Inc. (a)		186,472		8,766,049

Security Description	Shares		Value
Semiconductors & Semiconductor Equipment—(Continued)
MaxLinear, Inc. (a) (b)		222,689	$	4,427,057
Mellanox Technologies, Ltd. (a)		81,500		5,986,175
MKS Instruments, Inc.		77,900		6,243,685
Nanometrics, Inc. (a)		72,900		2,735,208
Versum Materials, Inc.		148,309		5,340,607
				49,444,855
Software—8.8%
ACI Worldwide, Inc. (a)		124,069		3,491,302
Aspen Technology, Inc. (a)		93,468		10,646,940
Blackbaud, Inc. (b)		86,224		8,750,012
CommVault Systems, Inc. (a) (b)		73,071		5,114,970
Descartes Systems Group, Inc. (The) (a)		75,558		2,561,416
Ellie Mae, Inc. (a) (b)		33,381		3,163,517
Envestnet, Inc. (a)		111,835		6,816,343
Fair Isaac Corp. (a)		59,568		13,614,266
Fortinet, Inc. (a) (b)		69,033		6,369,675
j2 Global, Inc. (b)		46,991		3,893,204
LogMeIn, Inc.		30,082		2,680,306
Manhattan Associates, Inc. (a) (b)		85,623		4,675,016
Pegasystems, Inc. (b)		101,995		6,384,887
Proofpoint, Inc. (a) (b)		56,301		5,986,485
PTC, Inc. (a) (b)		68,868		7,313,093
Qualys, Inc. (a) (b)		78,200		6,967,620
RealPage, Inc. (a) (b)		122,763		8,090,082
SS&C Technologies Holdings, Inc.		157,680		8,960,954
Tyler Technologies, Inc. (a)		37,151		9,104,224
Ultimate Software Group, Inc. (The) (a)		23,424		7,546,979
				132,131,291
Specialty Retail—1.6%
Aaron’s, Inc.		27,861		1,517,310
Burlington Stores, Inc. (a)		85,466		13,924,121
Children’s Place, Inc. (The)		19,992		2,554,978
Murphy USA, Inc. (a)		62,720		5,360,051
				23,356,460
Technology Hardware, Storage & Peripherals—0.2%
NCR Corp. (a)		116,350		3,305,503
Textiles, Apparel & Luxury Goods—0.9%
Carter’s, Inc. (b)		65,772		6,485,119
Steven Madden, Ltd. (b)		121,095		6,405,926
				12,891,045
Thrifts & Mortgage Finance—0.5%
MGIC Investment Corp. (a)		281,683		3,749,201
Radian Group, Inc.		148,182		3,062,922
				6,812,123
Trading Companies & Distributors—0.8%
Beacon Roofing Supply, Inc. (a)		69,750		2,524,253
Univar, Inc. (a)		132,508		4,062,695

BHFTII-265

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—(Continued)
Watsco, Inc. (b)		31,571	$	5,622,795
				12,209,743
Total Common Stocks (Cost $1,011,847,307)				1,493,860,967
Short-Term Investment—0.8%
Mutual Fund—0.8%
T. Rowe Price Government Reserve Fund (c)		12,030,752		12,030,752
Total Short-Term Investments (Cost $12,030,752)				12,030,752
Securities Lending Reinvestments (d)—19.6%
Bank Note—0.3%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (e)		5,000,000		5,000,000
Certificates of Deposit—5.8%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (e)		2,000,000		1,999,966
2.466%, 1M LIBOR + 0.250%, 03/20/19 (e)		5,000,000		4,999,740
Banco Santander S.A. 2.340%, 11/07/18		2,000,000		2,000,164
Bank of Montreal Zero Coupon, 10/31/18		9,978,687		9,980,625
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (e)		2,000,000		1,999,996
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (e)		1,500,000		1,501,431
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (e)		2,000,000		1,999,594
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (e)		4,000,000		4,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (e)		500,000		500,179
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (e)		1,750,000		1,750,131
Industrial & Commercial Bank of China, Ltd. 2.500%, 11/15/18		2,000,000		1,999,952
2.530%, 12/24/18		3,000,000		2,999,934
KBC Bank NV 2.400%, 12/27/18		6,000,000		6,000,000
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		11,000,000		11,000,022
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		5,954,925		5,956,165
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (e)		2,000,000		1,999,934
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (e)		3,000,000		2,999,763
2.533%, 3M LIBOR + 0.190%, 02/01/19 (e)		1,000,000		1,000,081

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (e)		5,000,000	$	4,999,725
2.381%, 1M LIBOR + 0.250%, 01/11/19 (e)		1,500,000		1,500,495
Societe Generale 2.504%, 1M LIBOR + 0.400%, 10/02/18 (e)		1,000,000		999,983
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (e)		4,000,000		3,999,532
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (e)		3,000,000		2,999,859
Sumitomo Mitsui Banking Corp., New York 2.290%, 1M LIBOR + 0.180%, 03/05/19 (e)		2,000,000		1,999,766
Sumitomo Mitsui Trust Bank, Ltd. 2.502%, 1M LIBOR + 0.320%, 11/21/18 (e)		3,000,000		3,000,000
Wells Fargo Bank N.A. 2.475%, 3M LIBOR + 0.140%, 10/26/18 (e)		1,500,000		1,500,249
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (e)		1,500,000		1,500,797
				87,188,083
Commercial Paper—1.4%
Bank of China, Ltd. 2.510%, 11/02/18		3,477,793		3,492,300
2.550%, 12/20/18		3,974,500		3,976,988
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (e)		4,000,000		4,002,044
LMA S.A. & LMA Americas 2.470%, 11/13/18		1,975,986		1,994,218
Sheffield Receivables Co. 2.490%, 11/26/18		2,467,319		2,490,397
2.510%, SOFR + 0.350%, 11/28/18 (e)		500,000		500,137
Starbird Funding Corp. 2.280%, 11/08/18		994,300		997,446
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (e)		2,000,000		2,001,846
Westpac Banking Corp. 2.408%, 3M LIBOR + 0.070%, 08/07/19 (e)		1,000,000		1,000,000
				20,455,376
Repurchase Agreements—9.5%
Citigroup Global Markets, Inc.
Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $2,021,011; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $2,108,572.		2,000,000		2,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $503,569; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $1,053,267; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $1,020,000.		1,000,000		1,000,000

BHFTII-266

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $4,642,289; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.500%, maturity dates ranging from 10/25/18 - 02/15/43, and an aggregate market value of $4,734,270.		4,641,438	$	4,641,438
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $6,901,288; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $7,038,001.		6,900,000		6,900,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $4,500,840; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $4,590,003.		4,500,000		4,500,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $6,401,195; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $6,528,000.		6,400,000		6,400,000
Deutsche Bank AG, London Repurchase Agreement dated 09/28/18 at 2.250%, due on 10/01/18 with a maturity value of $3,000,563; collateralized by Foreign Obligations with rates ranging from 1.750% - 2.625%, maturity dates ranging from 04/01/19 - 07/27/26, and an aggregate market value of $3,060,009.		3,000,000		3,000,000
Repurchase Agreement dated 08/24/18 at 2.560%, due on 10/01/18 with a maturity value of $20,054,044; collateralized by various Common Stock with an aggregate market value of $22,266,451.		20,000,000		20,000,000
Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $5,094,222; collateralized by various Common Stock with an aggregate market value of $5,566,613.		5,000,000		5,000,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $4,216,658; collateralized by various Common Stock with an aggregate market value of $4,667,233.		4,200,000		4,200,000
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $4,876,654; collateralized by various Common Stock with an aggregate market value of $5,060,001.		4,600,000		4,600,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $20,009,606; collateralized by various Common Stock with an aggregate market value of $22,004,285.		20,000,000		20,000,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $7,648,688; collateralized by various Common Stock with an aggregate market value of $8,344,914.		7,500,000	$	7,500,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $6,887,958; collateralized by various Common Stock with an aggregate market value of $7,566,055.		6,800,000		6,800,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $1,005,201; collateralized by various Common Stock with an aggregate market value of $1,112,744.		1,000,000		1,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $1,507,703; collateralized by various Common Stock with an aggregate market value of $1,669,116.		1,500,000		1,500,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $10,132,825; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $11,106,484.		10,000,000		10,000,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $10,836,630; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $11,883,938.		10,700,000		10,700,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $5,062,242; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $5,553,242.		5,000,000		5,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $11,131,991; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $12,217,132.		11,000,000		11,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $2,212,441; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,443,426.		2,200,000		2,200,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $1,011,050; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000

BHFTII-267

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $3,533,670; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,887,269.		3,500,000	$	3,500,000
				142,941,438
Time Deposits—2.6%
Cooperative Rabobank UA New York 2.150%, 10/01/18		10,000,000		10,000,000
DZ Bank AG 2.150%, 10/01/18		4,125,000		4,125,000
Nordea Bank New York 2.140%, 10/01/18		6,375,000		6,375,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		12,000,000		12,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		6,625,000		6,625,000
				39,125,000
Total Securities Lending Reinvestments (Cost $294,704,761)				294,709,897
Total Investments—119.7% (Cost $1,318,582,820)				1,800,601,616
Other assets and liabilities (net)—(19.7)%				(296,376,964	)
Net Assets—100.0%			$	1,504,224,652

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $288,429,310 and the collateral received consisted of cash in the amount of $294,639,948. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Affiliated Issuer.
(d)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-268

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,493,860,967	$	—		$	—	$	1,493,860,967
Total Short-Term Investment*		12,030,752		—			—		12,030,752
Total Securities Lending Reinvestments*		—		294,709,897			—		294,709,897
Total Investments	$	1,505,891,719	$	294,709,897		$	—	$	1,800,601,616
Collateral for Securities Loaned (Liability)	$	—	$	(294,639,948	)	$	—	$	(294,639,948	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-269

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Common Stocks—95.9% of Net Assets

Security Description	Shares		Value
Chemicals—7.2%
CF Industries Holdings, Inc.		821,200	$	44,706,128
Nutrien, Ltd.		715,423		41,279,907
				85,986,035
Electrical Equipment—0.8%
Sunrun, Inc. (a)		760,400		9,459,376
Energy Equipment & Services—12.8%
Halliburton Co.		303,000		12,280,590
Nabors Industries, Ltd. (b)		3,878,900		23,894,024
Patterson-UTI Energy, Inc. (b)		1,655,100		28,318,761
ProPetro Holding Corp. (a) (b)		1,304,000		21,502,960
Schlumberger, Ltd.		185,500		11,300,660
Superior Energy Services, Inc. (a) (b)		1,481,500		14,429,810
Tenaris S.A. (ADR)		401,400		13,454,928
Transocean, Ltd. (a) (b)		1,009,200		14,078,340
Weatherford International plc (a) (b)		4,942,500		13,394,175
				152,654,248
Food Products—2.6%
Bunge, Ltd.		169,800		11,666,958
Tyson Foods, Inc. - Class A		334,600		19,918,738
				31,585,696
Independent Power and Renewable Electricity Producers—0.4%
Ormat Technologies, Inc. (b)		97,300		5,264,903
Marine—1.6%
Kirby Corp. (a) (b)		233,031		19,166,800
Metals & Mining—28.2%
Agnico Eagle Mines, Ltd. (U.S. Listed Shares)		667,533		22,829,629
Barrick Gold Corp.		1,895,500		21,002,140
First Quantum Minerals, Ltd.		3,846,500		43,805,996
Glencore plc (a)		11,676,757		50,335,065
Goldcorp, Inc.		533,700		5,443,740
IAMGOLD Corp. (a)		1,512,000		5,564,160
KAZ Minerals plc		1,239,786		8,851,724
Kinross Gold Corp. (a)		3,211,000		8,669,700
Newmont Mining Corp. (b)		798,700		24,120,740
Randgold Resources, Ltd. (ADR)		199,100		14,046,505
Rio Tinto plc (ADR) (b)		501,200		25,571,224
Steel Dynamics, Inc.		555,900		25,121,121
Teck Resources, Ltd. - Class B		2,221,300		53,533,330
Vale S.A. (ADR)		1,847,200		27,412,448
				336,307,522
Mortgage Real Estate Investment Trusts—0.6%
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)		315,443		6,772,561
Oil, Gas & Consumable Fuels—39.8%
Cimarex Energy Co. (b)		340,300		31,627,482
CNX Resources Corp. (a) (b)		1,581,300		22,628,403

Security Description	Shares/ Principal Amount*		Value
Oil, Gas & Consumable Fuels—(Continued)
Concho Resources, Inc. (a)		397,929	$	60,783,655
Diamondback Energy, Inc.		459,300		62,092,767
Energen Corp. (a)		73,900		6,367,963
EOG Resources, Inc.		459,300		58,592,901
Golar LNG, Ltd. (b)		950,300		26,418,340
Green Plains, Inc. (b)		972,600		16,728,720
Laredo Petroleum, Inc. (a)		1,038,100		8,481,277
Newfield Exploration Co. (a)		785,600		22,648,848
Parsley Energy, Inc. - Class A (a)		1,739,700		50,886,225
PBF Energy, Inc. - Class A (b)		210,500		10,506,055
PDC Energy, Inc. (a) (b)		542,000		26,536,320
Pioneer Natural Resources Co.		299,600		52,187,324
Scorpio Tankers, Inc.		2,077,500		4,175,775
WPX Energy, Inc. (a) (b)		759,500		15,281,140
				475,943,195
Paper & Forest Products—1.0%
Louisiana-Pacific Corp. (b)		428,700		11,356,263
Semiconductors & Semiconductor Equipment—0.9%
SolarEdge Technologies, Inc. (a) (b)		276,700		10,417,755
Total Common Stocks (Cost $1,073,173,300)				1,144,914,354
Short-Term Investment—3.8%
Mutual Fund—3.8%
AIM STIT-STIC Prime Portfolio		45,271,705		45,271,705
Total Short-Term Investments (Cost $45,271,705)				45,271,705
Securities Lending Reinvestments (c)—17.3%
Bank Note—0.3%
Bank of America N.A. 2.398%, 1M LIBOR + 0.250%, 11/13/18 (d)		3,000,000		3,000,000
Certificates of Deposit—9.2%
Banco Del Estado De Chile New York 2.419%, 3M LIBOR + 0.100%, 11/14/18 (d)		6,500,000		6,499,889
2.466%, 1M LIBOR + 0.250%, 03/20/19 (d)		2,000,000		1,999,896
Banco Santander S.A. 2.340%, 11/07/18		2,000,000		2,000,164
Bank of Montreal Zero Coupon, 10/31/18		2,993,606		2,994,187
Bank of Montreal (Chicago) 2.371%, 3M LIBOR + 0.030%, 11/06/18 (d)		2,000,000		1,999,996
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (d)		2,500,000		2,499,493
2.500%, 02/01/19		1,000,000		999,986
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (d)		2,000,000		2,000,594

BHFTII-270

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Commonwealth Bank of Australia 2.358%, 1M LIBOR + 0.210%, 09/13/19 (d)		4,000,000	$	4,000,000
2.487%, 3M LIBOR + 0.140%, 04/23/19 (d)		2,000,000		2,000,716
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (d)		2,500,000		2,500,187
2.543%, 3M LIBOR + 0.200%, 04/05/19 (d)		1,000,000		1,000,766
Credit Agricole S.A. 2.463%, 1M LIBOR + 0.330%, 10/09/18 (d)		6,000,000		6,000,240
Credit Industriel et Commercial Zero Coupon, 01/25/19		6,342,941		6,373,793
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		4,000,000		4,000,052
2.500%, 11/15/18		2,000,000		1,999,952
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 01/15/19		1,984,975		1,985,388
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (d)		500,000		499,984
Natixis S.A. New York 2.504%, 1M LIBOR + 0.370%, 02/14/19 (d)		3,000,000		3,002,007
2.533%, 3M LIBOR + 0.190%, 02/01/19 (d)		2,500,000		2,500,202
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		5,000,000		4,999,725
2.381%, 1M LIBOR + 0.250%, 01/11/19 (d)		5,500,000		5,501,815
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (d)		7,000,000		6,999,181
2.551%, 1M LIBOR + 0.420%, 10/11/18 (d)		3,000,000		3,000,150
Sumitomo Mitsui Banking Corp. 2.321%, 1M LIBOR + 0.190%, 04/11/19 (d)		6,000,000		5,999,718
Sumitomo Mitsui Banking Corp., New York 2.290%, 1M LIBOR + 0.180%, 03/05/19 (d)		2,000,000		1,999,766
Sumitomo Mitsui Trust Bank, Ltd (NY) 2.423%, 3M LIBOR + 0.090%, 10/18/18 (d)		4,000,503		3,999,972
Sumitomo Mitsui Trust Bank, Ltd., London 2.528%, 1M LIBOR + 0.310%, 11/26/18 (d)		5,000,000		5,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (d)		1,500,000		1,500,179
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (d)		2,000,000		2,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (d)		8,500,000		8,500,969
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (d)		3,500,000		3,501,859
				109,860,826
Commercial Paper—3.1%
Bank of China, Ltd. 2.510%, 11/02/18		1,987,311		1,995,600
2.550%, 10/19/18		3,975,350		3,994,864
2.550%, 12/20/18		2,484,063		2,485,617
ING Funding LLC 2.453%, 1M LIBOR + 0.320%, 02/08/19 (d)		7,000,000		7,003,577
LMA S.A. & LMA Americas 2.470%, 11/13/18		2,963,979		2,991,327
Sheffield Receivables Co. 2.490%, 11/26/18		4,934,638		4,980,795
2.510%, SOFR + 0.350%, 11/28/18 (d)		500,000		500,137

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		994,000	$	997,834
Starbird Funding Corp. 2.280%, 11/08/18		1,988,600		1,994,892
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (d)		5,000,000		5,004,615
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (d)		5,000,000		5,002,770
				36,952,028
Repurchase Agreements—4.4%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $3,031,517; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $3,162,858.		3,000,000		3,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $2,014,278; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $1,053,267; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $2,780,620; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.500%, maturity dates ranging from 10/25/18 - 02/15/43, and an aggregate market value of $2,835,715.		2,780,111		2,780,111
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $700,131; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $714,000.		700,000		700,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $400,075; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $408,000.		400,000		400,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $501,983; collateralized by various Common Stock with an aggregate market value of $555,623.		500,000		500,000
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.720%, due on 12/31/18 with a maturity value of $848,114; collateralized by various Common Stock with an aggregate market value of $880,000.		800,000		800,000

BHFTII-271

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $4,156,249; collateralized by various Common Stock with an aggregate market value of $4,400,000.		4,000,000	$	4,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $4,001,921; collateralized by various Common Stock with an aggregate market value of $4,400,857.		4,000,000		4,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $713,878; collateralized by various Common Stock with an aggregate market value of $778,859.		700,000		700,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $709,055; collateralized by various Common Stock with an aggregate market value of $778,859.		700,000		700,000
Repurchase Agreement dated 07/18/18 at 2.370%, due on 10/05/18 with a maturity value of $5,026,004; collateralized by various Common Stock with an aggregate market value of $5,563,721.		5,000,000		5,000,000
Repurchase Agreement dated 07/19/18 at 2.370%, due on 10/05/18 with a maturity value of $9,046,215; collateralized by various Common Stock with an aggregate market value of $10,014,697.		9,000,000		9,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $810,626; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519.		800,000		800,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $911,492; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $999,584.		900,000		900,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $1,012,448; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,011,999; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $2,527,625; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $2,776,621.		2,500,000		2,500,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $7,067,340; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $7,774,539.		7,000,000	$	7,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $5,229,406; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $5,775,372.		5,200,000		5,200,000
				52,980,111
Time Deposits—0.3%
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		2,000,000		2,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		2,000,000		2,000,000
				4,000,000
Total Securities Lending Reinvestments (Cost $206,773,936)				206,792,965
Total Investments—117.0% (Cost $1,325,218,941)				1,396,979,024
Other assets and liabilities (net)—(17.0)%				(202,538,723	)
Net Assets—100.0%			$	1,194,440,301

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $200,661,469 and the collateral received consisted of cash in the amount of $206,630,075. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-272

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Chemicals	$	85,986,035	$	—		$	—	$	85,986,035
Electrical Equipment		9,459,376		—			—		9,459,376
Energy Equipment & Services		152,654,248		—			—		152,654,248
Food Products		31,585,696		—			—		31,585,696
Independent Power and Renewable Electricity Producers		5,264,903		—			—		5,264,903
Marine		19,166,800		—			—		19,166,800
Metals & Mining		277,120,733		59,186,789			—		336,307,522
Mortgage Real Estate Investment Trusts		6,772,561		—			—		6,772,561
Oil, Gas & Consumable Fuels		475,943,195		—			—		475,943,195
Paper & Forest Products		11,356,263		—			—		11,356,263
Semiconductors & Semiconductor Equipment		10,417,755		—			—		10,417,755
Total Common Stocks		1,085,727,565		59,186,789			—		1,144,914,354
Total Short-Term Investment*		45,271,705		—			—		45,271,705
Total Securities Lending Reinvestments*		—		206,792,965			—		206,792,965
Total Investments	$	1,130,999,270	$	265,979,754		$	—	$	1,396,979,024
Collateral for Securities Loaned (Liability)	$	—	$	(206,630,075	)	$	—	$	(206,630,075	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-273

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—56.7% of Net Assets

Security Description	Principal Amount*		Value
Aerospace/Defense—0.7%
Harris Corp. 4.854%, 04/27/35		350,000	$	358,792
5.054%, 04/27/45		1,089,000		1,144,144
Northrop Grumman Corp. 2.930%, 01/15/25		13,360,000		12,682,101
3.200%, 02/01/27		3,560,000		3,355,639
Raytheon Co. 3.125%, 10/15/20		30,000		30,054
United Technologies Corp. 4.125%, 11/16/28		4,700,000		4,668,378
4.500%, 06/01/42		290,000		286,661
				22,525,769
Agriculture—0.1%
Altria Group, Inc. 5.375%, 01/31/44		649,000		698,355
Reynolds American, Inc. 4.850%, 09/15/23		2,640,000		2,738,673
				3,437,028
Airlines—0.1%
Air Canada Pass-Through Trust 4.125%, 05/15/25 (144A)		647,935		647,935
American Airlines Pass-Through Trust 5.600%, 07/15/20 (144A)		978,908		996,039
Delta Air Lines Pass-Through Trust 4.950%, 05/23/19		203,704		204,977
Northwest Airlines Pass-Through Trust 7.575%, 03/01/19		1,531		1,546
				1,850,497
Apparel—0.5%
Hanesbrands, Inc. 4.875%, 05/15/26 (144A) (a)		14,688,000		14,045,400
Levi Strauss & Co. 5.000%, 05/01/25		1,295,000		1,291,374
				15,336,774
Auto Manufacturers—0.7%
Allison Transmission, Inc. 4.750%, 10/01/27 (144A) (a)		3,650,000		3,444,688
5.000%, 10/01/24 (144A)		4,790,000		4,766,050
General Motors Co. 6.600%, 04/01/36		5,134,000		5,468,579
Jaguar Land Rover Automotive plc 4.500%, 10/01/27 (144A) (a)		8,860,000		7,263,428
JB Poindexter & Co., Inc. 7.125%, 04/15/26 (144A)		1,765,000		1,831,188
				22,773,933
Auto Parts & Equipment—0.4%
Adient Global Holdings, Ltd. 4.875%, 08/15/26 (144A)		200,000		177,750

Security Description	Principal Amount*		Value
Auto Parts & Equipment—(Continued)
Delphi Technologies plc 5.000%, 10/01/25 (144A)		4,210,000	$	3,962,662
IHO Verwaltungs GmbH 4.125%, 4.875% PIK, 09/15/21 (144A) (b)		1,840,000		1,821,600
4.500%, 5.250% PIK, 09/15/23 (144A) (b)		1,050,000		1,017,303
4.750%, 5.500% PIK, 09/15/26 (144A) (a) (b)		3,440,000		3,242,200
ZF North America Capital, Inc. 4.750%, 04/29/25 (144A)		4,153,000		4,151,271
				14,372,786
Banks—9.2%
ABN AMRO Bank NV 4.750%, 07/28/25 (144A)		321,000		321,800
Banco Bilbao Vizcaya Argentaria S.A. 7.000%, 5Y EUR Swap + 6.155%, 02/19/19 (EUR) (c)		8,800,000		10,404,628
Banco Mercantil del Norte S.A. 6.875%, 5Y CMT + 5.035%, 07/06/22 (144A) (a) (c)		800,000		801,208
7.625%, 10Y CMT + 5.353%, 01/10/28 (144A) (a) (c)		800,000		808,000
Banco Santander S.A. 3.800%, 02/23/28		400,000		363,238
3.848%, 04/12/23		9,800,000		9,573,221
Bank of America Corp. 4.000%, 01/22/25		16,110,000		15,891,417
4.250%, 10/22/26		7,628,000		7,537,029
Barclays Bank plc 7.625%, 11/21/22		16,450,000		17,831,800
Barclays plc 4.972%, 3M LIBOR + 1.902%, 05/16/29 (c)		4,990,000		4,924,192
7.750%, 5Y USD Swap + 4.842%, 09/15/23 (a) (c)		3,650,000		3,659,125
BBVA Bancomer S.A. 5.125%, 5Y CMT + 2.650%, 01/18/33 (144A) (c)		16,480,000		14,976,200
BNP Paribas S.A. 4.375%, 05/12/26 (144A)		7,680,000		7,475,246
7.625%, 5Y USD Swap + 6.314%, 03/30/21 (144A) (a) (c)		2,850,000		2,992,500
BPCE S.A. 4.875%, 04/01/26 (144A) (a)		12,000,000		11,975,788
5.150%, 07/21/24 (144A)		420,000		427,060
CIT Group, Inc. 6.125%, 03/09/28 (a)		1,760,000		1,839,200
Citigroup, Inc. 4.050%, 07/30/22		110,000		110,903
4.450%, 09/29/27		11,094,000		10,959,462
Cooperative Rabobank UA 3.750%, 07/21/26		4,210,000		3,974,539
4.375%, 08/04/25		1,470,000		1,455,064
4.625%, 12/01/23		5,870,000		5,958,079
11.000%, 3M LIBOR + 10.868%, 06/30/19 (144A) (c)		415,000		438,033
Credit Agricole S.A. 7.875%, 5Y USD Swap + 4.898%, 01/23/24 (144A) (c)		1,750,000		1,842,015

BHFTII-274

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Credit Agricole S.A.
8.125%, 5Y USD Swap + 6.185%, 12/23/25 (144A) (a) (c)		7,050,000	$	7,754,803
8.375%, 3M LIBOR + 6.982%, 10/13/19 (144A) (a) (c)		640,000		664,240
Credit Suisse Group AG 7.250%, 5Y USD Swap + 4.332%, 09/12/25 (144A) (a) (c)		650,000		652,438
7.500%, 5Y USD Swap + 4.600%, 07/17/23 (144A) (a) (c)		3,390,000		3,487,463
7.500%, 5Y USD Swap + 4.598%, 12/11/23 (144A) (c)		4,365,000		4,593,901
Goldman Sachs Group, Inc. (The) 3.500%, 11/16/26		2,920,000		2,769,621
4.000%, 03/03/24		1,510,000		1,513,841
4.250%, 10/21/25		8,890,000		8,804,781
5.250%, 07/27/21		1,330,000		1,392,354
6.750%, 10/01/37		2,000,000		2,403,016
HSBC Holdings plc 3.900%, 05/25/26		10,850,000		10,516,551
4.583%, 3M LIBOR + 1.535%, 06/19/29 (c)		2,650,000		2,652,962
6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (a) (c)		4,430,000		4,249,477
6.250%, 5Y USD ICE Swap + 3.453%, 03/23/23 (a) (c)		3,770,000		3,755,862
6.500%, 5Y USD ICE Swap + 3.606%, 03/23/28 (c)		3,770,000		3,638,050
Intesa Sanpaolo S.p.A. 3.125%, 07/14/22 (144A)		1,970,000		1,831,851
3.375%, 01/12/23 (144A)		1,900,000		1,758,571
3.875%, 07/14/27 (144A)		8,790,000		7,497,686
5.017%, 06/26/24 (144A)		2,440,000		2,201,269
5.710%, 01/15/26 (144A) (a)		19,740,000		18,000,439
6.500%, 02/24/21 (144A)		1,175,000		1,216,120
JPMorgan Chase & Co. 3.625%, 12/01/27		6,430,000		6,060,531
3.875%, 09/10/24		2,722,000		2,695,168
Lloyds Banking Group plc 4.582%, 12/10/25		3,011,000		2,955,012
4.650%, 03/24/26		3,920,000		3,850,013
7.500%, 5Y USD Swap + 4.760%, 06/27/24 (a) (c)		3,580,000		3,691,875
Macquarie Bank, Ltd. 4.875%, 06/10/25 (144A) (a)		2,100,000		2,094,210
Macquarie Group, Ltd. 6.000%, 01/14/20 (144A) (a)		3,200,000		3,306,407
6.250%, 01/14/21 (144A) (a)		400,000		421,604
Morgan Stanley 4.000%, 07/23/25		1,165,000		1,160,573
4.100%, 05/22/23		1,000,000		1,005,936
4.875%, 11/01/22		250,000		258,965
Royal Bank of Scotland Group plc 4.800%, 04/05/26		400,000		399,371
5.125%, 05/28/24		2,870,000		2,871,516
6.000%, 12/19/23		875,000		911,636
6.100%, 06/10/23		780,000		812,106
8.625%, 5Y USD Swap + 7.598%, 08/15/21 (c)		2,890,000		3,095,913

Security Description	Principal Amount*		Value
Banks—(Continued)
Santander Holdings USA, Inc. 4.500%, 07/17/25		570,000	$	562,640
Santander UK Group Holdings plc 4.750%, 09/15/25 (144A)		10,031,000		9,777,386
7.375%, 5Y GBP Swap + 5.543%, 06/24/22 (GBP) (c)		2,620,000		3,583,093
Santander UK plc 7.950%, 10/26/29 (a)		272,000		323,169
Standard Chartered plc 3.950%, 01/11/23 (144A) (a)		2,425,000		2,373,015
5.700%, 03/26/44 (144A) (a)		600,000		620,477
UBS AG 7.625%, 08/17/22		2,850,000		3,174,900
UBS Group Funding Switzerland AG 4.253%, 03/23/28 (144A) (a)		2,950,000		2,927,572
Wells Fargo & Co. 4.300%, 07/22/27		10,990,000		10,942,467
Wells Fargo Capital X 5.950%, 12/01/86		90,000		96,300
				297,866,898
Beverages—0.2%
Constellation Brands, Inc. 4.750%, 12/01/25 (a)		140,000		143,347
Cott Holdings, Inc. 5.500%, 04/01/25 (144A)		5,530,000		5,398,662
				5,542,009
Biotechnology—0.2%
Celgene Corp. 3.875%, 08/15/25		1,120,000		1,102,800
5.000%, 08/15/45		800,000		793,879
Gilead Sciences, Inc. 2.550%, 09/01/20 (a)		1,675,000		1,658,116
3.500%, 02/01/25		1,795,000		1,762,687
4.600%, 09/01/35		1,800,000		1,853,943
				7,171,425
Building Materials—0.3%
Standard Industries, Inc. 5.375%, 11/15/24 (144A)		8,710,000		8,699,113
Chemicals—0.2%
Monitchem HoldCo 2 S.A. 6.875%, 06/15/22 (EUR) (a)		3,104,000		3,243,799
Olin Corp. 5.000%, 02/01/30 (a)		3,250,000		3,038,750
				6,282,549
Commercial Services—1.4%
Ashtead Capital, Inc. 4.375%, 08/15/27 (144A) (a)		5,320,000		5,054,000
Board of Trustees of The Leland Stanford Junior University (The) 4.750%, 05/01/19		327,000		330,943

BHFTII-275

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
Brink’s Co. (The) 4.625%, 10/15/27 (144A)		3,420,000	$	3,154,950
Carriage Services, Inc. 6.625%, 06/01/26 (144A)		5,500,000		5,623,750
Ecolab, Inc. 4.350%, 12/08/21		57,000		58,697
FTI Consulting, Inc. 2.000%, 08/15/23 (144A)		4,190,000		4,073,292
Hertz Corp. (The) 5.875%, 10/15/20		4,760,000		4,736,200
Live Nation Entertainment, Inc. 2.500%, 03/15/23 (144A)		6,820,000		7,368,935
Metropolitan Museum of Art (The) 3.400%, 07/01/45		2,025,000		1,848,775
Prime Security Services Borrower LLC / Prime Finance, Inc. 9.250%, 05/15/23 (144A) (a)		3,323,000		3,553,948
UBM plc 5.750%, 11/03/20 (144A)		50,000		50,710
United Rentals North America, Inc. 4.625%, 10/15/25 (a)		760,000		737,200
4.875%, 01/15/28 (a)		4,230,000		3,965,625
5.875%, 09/15/26 (a)		5,000,000		5,131,250
				45,688,275
Computers—0.4%
Dell International LLC / EMC Corp. 3.480%, 06/01/19 (144A)		1,000,000		1,002,542
4.420%, 06/15/21 (144A)		12,010,000		12,187,932
				13,190,474
Diversified Financial Services—2.0%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.625%, 10/30/20		1,060,000		1,080,172
5.000%, 10/01/21		15,056,000		15,485,788
Ally Financial, Inc. 8.000%, 11/01/31		525,000		635,906
ASP AMC Merger Sub, Inc. 8.000%, 05/15/25 (144A)		9,420,000		7,159,200
Carlyle Holdings II Finance LLC 5.625%, 03/30/43 (144A)		3,370,000		3,322,176
International Lease Finance Corp. 8.250%, 12/15/20		2,613,000		2,855,290
8.625%, 01/15/22		2,500,000		2,840,907
Jerrold Finco plc 6.125%, 01/15/24 (144A) (GBP)		1,780,000		2,331,365
KKR Group Finance Co. II LLC 5.500%, 02/01/43 (144A)		130,000		133,984
Lions Gate Capital Holdings LLC 5.875%, 11/01/24 (144A) (a)		3,880,000		3,977,000
Navient Corp. 5.000%, 10/26/20 (a)		5,811,000		5,882,533
Quicken Loans, Inc. 5.250%, 01/15/28 (144A) (a)		1,050,000		975,188
5.750%, 05/01/25 (144A) (a)		15,600,000		15,580,500

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
Travelport Corporate Finance plc 6.000%, 03/15/26 (144A) (a)		3,238,000	$	3,288,739
Visa, Inc. 3.150%, 12/14/25		850,000		823,837
				66,372,585
Electric—1.2%
Enel S.p.A. 7.750%, 5Y GBP Swap + 5.662%, 09/10/75 (GBP) (c)		2,450,000		3,472,747
Exelon Corp. 3.497%, 06/01/22		4,800,000		4,715,716
FirstEnergy Corp. 3.900%, 07/15/27		6,480,000		6,300,250
4.250%, 03/15/23		1,560,000		1,583,945
7.375%, 11/15/31		3,550,000		4,579,032
NSG Holdings LLC / NSG Holdings, Inc. 7.750%, 12/15/25 (144A) (d)		2,524,127		2,767,074
Pacific Gas & Electric Co. 4.000%, 12/01/46		1,390,000		1,206,178
6.050%, 03/01/34		1,180,000		1,328,237
Panoche Energy Center LLC 6.885%, 07/31/29 (144A)		642,184		641,125
Perusahaan Listrik Negara PT 5.500%, 11/22/21 (a)		9,750,000		10,208,250
Southern California Edison Co. 3.900%, 03/15/43		1,217,000		1,125,766
				37,928,320
Energy-Alternate Sources—0.0%
Alta Wind Holdings LLC 7.000%, 06/30/35 (144A) (d)		1,303,687		1,392,486
Entertainment—0.8%
Downstream Development Authority of the Quapaw Tribe of Oklahoma 10.500%, 02/15/23 (144A) (a)		985,000		1,007,162
GLP Capital L.P. / GLP Financing II, Inc. 5.375%, 04/15/26		10,000		10,155
5.750%, 06/01/28 (a)		4,400,000		4,529,184
Scientific Games International, Inc. 10.000%, 12/01/22 (a)		14,360,000		15,215,425
Speedway Motorsports, Inc. 5.125%, 02/01/23		560,000		559,300
Vue International Bidco plc 7.875%, 07/15/20 (GBP)		2,510,000		3,279,714
				24,600,940
Environmental Control—0.0%
Waste Management, Inc. 3.500%, 05/15/24		890,000		877,937
4.600%, 03/01/21		180,000		184,628
7.375%, 05/15/29		190,000		235,047
				1,297,612

BHFTII-276

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Food—0.3%
Kraft Heinz Foods Co. 3.000%, 06/01/26		340,000	$	310,198
3.950%, 07/15/25		60,000		59,103
5.000%, 07/15/35		250,000		246,678
5.000%, 06/04/42		130,000		123,952
5.200%, 07/15/45		390,000		380,789
Lamb Weston Holdings, Inc. 4.625%, 11/01/24 (144A)		3,710,000		3,631,163
4.875%, 11/01/26 (144A)		4,870,000		4,772,600
				9,524,483
Forest Products & Paper—0.1%
Suzano Austria GmbH 5.750%, 07/14/26		4,200,000		4,236,750
Healthcare-Products—0.9%
Becton Dickinson & Co. 3.700%, 06/06/27		8,580,000		8,202,735
DJO Finance LLC / DJO Finance Corp. 8.125%, 06/15/21 (144A)		9,110,000		9,303,587
Immucor, Inc. 11.125%, 02/15/22 (144A) (a)		7,080,000		7,168,500
Medtronic, Inc. 3.150%, 03/15/22		1,393,000		1,383,389
3.500%, 03/15/25		1,730,000		1,716,150
				27,774,361
Healthcare-Services—1.9%
Centene Corp. 5.375%, 06/01/26 (144A) (a)		7,280,000		7,462,000
6.125%, 02/15/24 (a)		4,413,000		4,644,682
Fresenius Medical Care U.S. Finance II, Inc. 4.750%, 10/15/24 (144A)		700,000		720,160
Halfmoon Parent, Inc. 4.800%, 08/15/38 (144A)		8,120,000		8,107,320
HCA, Inc. 5.375%, 02/01/25		6,010,000		6,130,200
5.500%, 06/15/47		12,780,000		12,955,725
5.625%, 09/01/28		9,460,000		9,507,300
Humana, Inc. 4.800%, 03/15/47		800,000		814,641
RegionalCare Hospital Partners Holdings, Inc. 8.250%, 05/01/23 (144A) (a)		4,513,000		4,738,650
Tenet Healthcare Corp. 7.500%, 01/01/22 (144A) (a)		2,490,000		2,598,937
8.125%, 04/01/22		4,255,000		4,483,919
				62,163,534
Holding Companies-Diversified—0.1%
Co-operative Group Holdings, Ltd. 7.500%, 07/08/26 (GBP) (f)		2,410,000		3,705,699
Home Builders—0.5%
Lennar Corp. 4.500%, 04/30/24		4,180,000		4,093,056
4.750%, 11/29/27 (a)		5,730,000		5,515,125

Security Description	Principal Amount*		Value
Home Builders—(Continued)
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc. 5.625%, 03/01/24 (144A) (a)		6,000,000	$	5,910,000
5.875%, 04/15/23 (144A) (a)		780,000		785,850
				16,304,031
Housewares—0.1%
Newell Brands, Inc. 3.850%, 04/01/23		1,750,000		1,712,563
5.500%, 04/01/46		1,420,000		1,355,804
				3,068,367
Insurance—0.8%
Ambac Assurance Corp. 5.100%, 06/07/20 (144A)		20,207		27,532
Ambac LSNI LLC 7.396%, 3M LIBOR + 5.000%, 02/12/23 (144A) (c)		88,770		89,657
American International Group, Inc. 3.750%, 07/10/25		770,000		749,742
6.250%, 3M LIBOR + 2.056%, 03/15/87 (c)		453,000		455,265
AXA S.A. 8.600%, 12/15/30		1,320,000		1,716,000
Delphi Financial Group, Inc. 7.875%, 01/31/20		2,190,000		2,312,451
Fidelity & Guaranty Life Holdings, Inc. 5.500%, 05/01/25 (144A)		6,120,000		6,066,144
Liberty Mutual Insurance Co. 7.697%, 10/15/97 (144A)		2,600,000		3,406,151
Massachusetts Mutual Life Insurance Co. 4.900%, 04/01/77 (144A)		6,285,000		6,189,869
Prudential Financial, Inc. 5.625%, 3M LIBOR + 3.920%, 06/15/43 (c)		550,000		573,375
5.875%, 3M LIBOR + 4.175%, 09/15/42 (c)		1,200,000		1,269,000
Teachers Insurance & Annuity Association of America 4.900%, 09/15/44 (144A)		1,771,000		1,883,635
6.850%, 12/16/39 (144A)		216,000		283,102
				25,021,923
Internet—0.7%
Cogent Communications Group, Inc. 5.375%, 03/01/22 (144A) (a)		5,195,000		5,272,925
Match Group, Inc. 5.000%, 12/15/27 (144A) (a)		920,000		915,492
6.375%, 06/01/24		4,725,000		4,984,261
Palo Alto Networks, Inc. 0.750%, 07/01/23 (144A) (a)		1,560,000		1,630,504
Priceline Group, Inc. 3.650%, 03/15/25 (a)		1,625,000		1,595,995
Tencent Holdings, Ltd. 3.595%, 01/19/28 (144A)		8,110,000		7,672,887
				22,072,064

BHFTII-277

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Investment Company Security—0.1%
MAI Holdings, Inc. 9.500%, 06/01/23		2,550,000	$	2,655,188
Iron/Steel—0.4%
Vale Overseas, Ltd. 6.250%, 08/10/26		3,990,000		4,372,641
6.875%, 11/10/39 (a)		7,980,000		9,348,570
				13,721,211
Leisure Time—0.8%
NCL Corp., Ltd. 4.750%, 12/15/21 (144A) (a)		4,262,000		4,299,292
Silversea Cruise Finance, Ltd. 7.250%, 02/01/25 (144A)		5,285,000		5,749,287
Viking Cruises, Ltd. 5.875%, 09/15/27 (144A)		11,372,000		11,096,798
VOC Escrow, Ltd. 5.000%, 02/15/28 (144A) (a)		6,000,000		5,766,240
				26,911,617
Lodging—0.8%
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. 4.625%, 04/01/25 (a)		1,250,000		1,227,500
4.875%, 04/01/27 (a)		11,970,000		11,799,188
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp. 10.250%, 11/15/22 (144A) (a)		4,700,000		5,170,940
MGM Resorts International 6.625%, 12/15/21 (a)		130,000		137,735
Sands China, Ltd. 5.125%, 08/08/25 (144A) (a)		6,800,000		6,783,472
				25,118,835
Machinery-Construction & Mining—0.5%
BlueLine Rental Finance Corp. / BlueLine Rental LLC 9.250%, 03/15/24 (144A) (a)		15,520,000		16,286,300
Machinery-Diversified—0.1%
Cleaver-Brooks, Inc. 7.875%, 03/01/23 (144A)		4,350,000		4,447,875
Media—4.2%
Altice France S.A. 7.375%, 05/01/26 (144A)		16,085,000		16,101,889
8.125%, 02/01/27 (144A)		5,930,000		6,093,075
Altice Luxembourg S.A. 7.750%, 05/15/22 (144A) (a)		7,490,000		7,289,642
American Media, Inc. 5.500%, 09/01/21 (144A) (d)		5,350,000		5,303,188
CCO Holdings LLC / CCO Holdings Capital Corp. 5.000%, 02/01/28 (144A) (a)		3,960,000		3,722,004
5.125%, 05/01/27 (144A)		5,260,000		4,987,059
5.375%, 05/01/25 (144A) (a)		880,000		873,400

Security Description	Principal Amount*		Value
Media—(Continued)
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.200%, 03/15/28		8,160,000	$	7,801,414
4.908%, 07/23/25		9,064,000		9,199,546
5.375%, 04/01/38		2,050,000		1,984,287
CSC Holdings LLC 6.625%, 10/15/25 (144A) (a)		2,680,000		2,824,050
10.125%, 01/15/23 (144A) (a)		1,125,000		1,230,750
10.875%, 10/15/25 (144A)		5,667,000		6,580,804
DISH DBS Corp. 5.000%, 03/15/23 (a)		3,247,000		2,946,425
7.750%, 07/01/26 (a)		13,290,000		12,592,275
EW Scripps Co. (The) 5.125%, 05/15/25 (144A) (a)		5,810,000		5,584,863
Meredith Corp. 6.875%, 02/01/26 (144A) (a)		3,620,000		3,710,500
Time Warner Cable LLC 5.875%, 11/15/40		1,942,000		1,957,849
Univision Communications, Inc. 5.125%, 05/15/23 (144A) (a)		2,540,000		2,432,050
5.125%, 02/15/25 (144A) (a)		7,890,000		7,377,150
UPC Holding B.V. 5.500%, 01/15/28 (144A)		6,110,000		5,797,473
UPCB Finance IV, Ltd. 5.375%, 01/15/25 (144A)		2,296,000		2,293,153
Urban One, Inc. 7.375%, 04/15/22 (144A) (a)		9,430,000		9,335,700
Virgin Media Secured Finance plc 5.500%, 01/15/25 (GBP)		2,619,000		3,498,946
5.500%, 08/15/26 (144A)		5,985,000		5,925,150
				137,442,642
Mining—3.1%
Alcoa Nederland Holding B.V. 6.125%, 05/15/28 (144A)		12,052,000		12,383,430
Anglo American Capital plc 4.000%, 09/11/27 (144A)		3,540,000		3,261,137
Barrick Gold Corp. 5.250%, 04/01/42		2,520,000		2,624,313
Barrick North America Finance LLC 5.750%, 05/01/43		11,289,000		12,514,953
BHP Billiton Finance USA, Ltd. 2.875%, 02/24/22		79,000		77,721
6.250%, 5Y USD Swap + 4.971%, 10/19/75 (144A) (a) (c)		2,392,000		2,493,660
6.750%, 5Y USD Swap + 5.093%, 10/19/75 (144A) (c)		8,191,000		8,979,384
First Quantum Minerals, Ltd. 7.000%, 02/15/21 (144A) (a)		10,540,000		10,421,425
7.250%, 04/01/23 (144A) (a)		3,360,000		3,200,400
7.500%, 04/01/25 (144A)		1,730,000		1,641,338
Freeport-McMoRan, Inc. 5.400%, 11/14/34 (a)		860,000		808,400
5.450%, 03/15/43		16,860,000		15,300,450

BHFTII-278

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Mining—(Continued)
Glencore Finance Canada, Ltd. 4.250%, 10/25/22 (144A)		788,000	$	793,540
5.550%, 10/25/42 (144A)		1,000,000		986,510
Glencore Funding LLC 4.000%, 04/16/25 (144A) (a)		6,580,000		6,319,827
HudBay Minerals, Inc. 7.250%, 01/15/23 (144A) (a)		2,280,000		2,342,951
7.625%, 01/15/25 (144A) (a)		2,460,000		2,539,950
Midwest Vanadium Pty, Ltd. 11.500%, 02/15/18 (144A) (d) (g)		932,290		93
Mirabela Nickel, Ltd. 9.500%, 06/24/19 (144A) (g) (h) (i)		36,414		0
Northwest Acquisitions ULC / Dominion Finco, Inc. 7.125%, 11/01/22 (144A) (a)		5,740,000		5,869,150
Teck Resources, Ltd. 5.200%, 03/01/42 (a)		740,000		682,650
Yamana Gold, Inc. 4.950%, 07/15/24		9,130,000		9,000,354
				102,241,636
Miscellaneous Manufacturing—0.4%
General Electric Co. 6.875%, 01/10/39		9,598,000		11,973,021
Oil & Gas—6.1%
Anadarko Finance Co. 7.500%, 05/01/31		80,000		98,083
Anadarko Petroleum Corp. 4.500%, 07/15/44		800,000		731,634
5.550%, 03/15/26		2,250,000		2,390,641
6.450%, 09/15/36		220,000		250,750
Apache Corp. 3.250%, 04/15/22 (a)		452,000		444,885
4.250%, 01/15/44		260,000		231,514
4.750%, 04/15/43		7,000,000		6,604,216
Berry Petroleum Co. LLC 7.000%, 02/15/26 (144A)		4,030,000		4,171,050
BP Capital Markets plc 3.119%, 05/04/26		3,580,000		3,412,322
Cenovus Energy, Inc. 5.250%, 06/15/37		410,000		406,009
Centennial Resource Production LLC 5.375%, 01/15/26 (144A)		3,160,000		3,144,200
Chesapeake Energy Corp. 8.000%, 12/15/22 (144A) (a)		5,633,000		5,900,568
8.000%, 01/15/25 (a)		730,000		753,360
8.000%, 06/15/27		5,960,000		6,076,220
ConocoPhillips Holding Co. 6.950%, 04/15/29		375,000		468,008
Covey Park Energy LLC / Covey Park Finance Corp. 7.500%, 05/15/25 (144A)		12,790,000		12,965,862
Devon Energy Corp. 3.250%, 05/15/22		2,035,000		1,997,579
5.600%, 07/15/41		110,000		116,507
5.850%, 12/15/25		970,000		1,056,654

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Diamondback Energy, Inc. 4.750%, 11/01/24		9,328,000	$	9,339,660
5.375%, 05/31/25 (a)		4,670,000		4,775,075
Endeavor Energy Resources L.P. / EER Finance, Inc. 5.500%, 01/30/26 (144A)		1,350,000		1,350,000
5.750%, 01/30/28 (144A) (a)		2,180,000		2,180,000
Ensco plc 7.750%, 02/01/26 (a)		1,600,000		1,588,000
EOG Resources, Inc. 4.150%, 01/15/26 (a)		1,665,000		1,702,112
EP Energy LLC / Everest Acquisition Finance, Inc. 6.375%, 06/15/23		3,370,000		2,241,050
8.000%, 02/15/25 (144A) (a)		2,660,000		2,034,900
9.375%, 05/01/24 (144A) (a)		5,280,000		4,356,000
Extraction Oil & Gas, Inc. 5.625%, 02/01/26 (144A) (a)		4,170,000		3,690,450
7.375%, 05/15/24 (144A)		5,030,000		4,967,125
Gazprom OAO Via Gaz Capital S.A. 4.950%, 03/23/27 (144A)		10,470,000		10,015,602
KazMunayGas National Co. JSC 5.375%, 04/24/30 (144A)		300,000		304,830
6.375%, 10/24/48 (144A)		1,060,000		1,111,537
Kerr-McGee Corp. 6.950%, 07/01/24		290,000		326,492
7.875%, 09/15/31		285,000		354,766
MEG Energy Corp. 6.375%, 01/30/23 (144A) (a)		5,000,000		4,550,000
6.500%, 01/15/25 (144A) (a)		2,870,000		2,841,300
7.000%, 03/31/24 (144A) (a)		8,029,000		7,306,390
Noble Energy, Inc. 3.850%, 01/15/28 (a)		1,910,000		1,803,285
6.000%, 03/01/41		10,200,000		10,900,567
Occidental Petroleum Corp. 3.125%, 02/15/22		110,000		108,945
3.500%, 06/15/25		1,850,000		1,834,879
4.625%, 06/15/45		230,000		238,588
Petrobras Global Finance B.V. 5.750%, 02/01/29		9,670,000		8,642,562
6.850%, 06/05/15 (a)		17,700,000		15,133,500
QEP Resources, Inc. 5.250%, 05/01/23 (a)		2,650,000		2,580,438
5.625%, 03/01/26 (a)		5,060,000		4,838,625
6.875%, 03/01/21		1,050,000		1,102,500
Range Resources Corp. 4.875%, 05/15/25 (a)		1,945,000		1,840,456
5.000%, 03/15/23 (a)		3,249,000		3,192,143
5.875%, 07/01/22		850,000		864,875
Shelf Drilling Holdings, Ltd. 8.250%, 02/15/25 (144A)		6,190,000		6,375,700
Shell International Finance B.V. 2.875%, 05/10/26		2,840,000		2,695,792
3.250%, 05/11/25		1,773,000		1,738,720
4.000%, 05/10/46		360,000		351,708
WPX Energy, Inc. 5.750%, 06/01/26 (a)		4,521,000		4,577,513
8.250%, 08/01/23 (a)		5,720,000		6,492,200

BHFTII-279

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
YPF S.A. 8.500%, 03/23/21		8,000,000	$	8,060,000
				199,628,347
Oil & Gas Services—0.1%
KCA Deutag UK Finance plc 9.875%, 04/01/22 (144A)		3,750,000		3,731,250
Packaging & Containers—0.7%
ARD Securities Finance SARL 8.750%, 8.750% PIK, 01/31/23 (144A) (a) (b)		2,656,063		2,656,063
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. 4.625%, 05/15/23 (144A)		660,000		654,225
6.000%, 02/15/25 (144A) (a)		5,200,000		5,106,400
7.250%, 05/15/24 (144A)		4,860,000		5,084,775
Pactiv LLC 8.375%, 04/15/27		7,435,000		8,029,800
WestRock RKT Co. 4.000%, 03/01/23 (a)		140,000		140,150
				21,671,413
Pharmaceuticals—3.7%
Allergan Funding SCS 3.450%, 03/15/22		450,000		447,139
4.550%, 03/15/35		3,400,000		3,301,349
4.750%, 03/15/45 (a)		2,645,000		2,567,656
Bausch Health Cos., Inc. 5.500%, 11/01/25 (144A) (a)		5,070,000		5,061,128
5.625%, 12/01/21 (144A)		2,740,000		2,729,725
7.500%, 07/15/21 (144A)		2,905,000		2,959,469
9.250%, 04/01/26 (144A)		11,675,000		12,594,406
BioScrip, Inc. Zero Coupon, 08/15/20 (c) (e) (i)		17,830,000		18,631,520
8.875%, 02/15/21 (a)		4,952,000		4,692,020
CVS Health Corp. 3.875%, 07/20/25		496,000		488,494
4.100%, 03/25/25		38,960,000		38,838,971
4.780%, 03/25/38		17,110,000		16,976,752
5.125%, 07/20/45		1,440,000		1,478,548
Jazz Investments I, Ltd. 1.500%, 08/15/24 (a)		5,790,000		5,880,839
Mead Johnson Nutrition Co. 4.125%, 11/15/25		1,653,000		1,672,665
Teva Pharmaceutical Finance Co. B.V. 2.950%, 12/18/22 (a)		1,360,000		1,262,718
Teva Pharmaceutical Finance Netherlands III B.V. 2.200%, 07/21/21		1,570,000		1,475,219
2.800%, 07/21/23		780,000		694,413
				121,753,031
Pipelines—4.0%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 5.500%, 10/15/19		600,000		611,262
Blue Racer Midstream LLC / Blue Racer Finance Corp. 6.125%, 11/15/22 (144A) (a)		1,825,000		1,872,906
6.625%, 07/15/26 (144A) (a)		2,910,000		2,964,562

Security Description	Principal Amount*		Value
Pipelines—(Continued)
DCP Midstream Operating L.P. 4.950%, 04/01/22 (a)		1,620,000	$	1,644,300
6.750%, 09/15/37 (144A)		3,480,000		3,723,600
El Paso Natural Gas Co. LLC 7.500%, 11/15/26 (a)		4,250,000		5,057,595
8.375%, 06/15/32		190,000		239,768
Energy Transfer Equity L.P. 5.500%, 06/01/27 (a)		1,376,000		1,428,013
5.875%, 01/15/24 (a)		1,638,000		1,723,995
Enterprise Products Operating LLC 3.700%, 02/15/26 (a)		1,072,000		1,055,199
3.750%, 02/15/25		2,100,000		2,095,794
3.900%, 02/15/24		225,000		226,968
5.375%, 3M LIBOR + 2.570%, 02/15/78 (c)		13,090,000		12,103,393
Genesis Energy L.P. / Genesis Energy Finance Corp. 5.625%, 06/15/24		1,060,000		1,001,700
6.000%, 05/15/23 (a)		6,046,000		5,962,867
IFM U.S. Colonial Pipeline 2 LLC 6.450%, 05/01/21 (144A)		2,500,000		2,633,394
Kinder Morgan, Inc. 4.300%, 06/01/25		1,240,000		1,249,880
7.800%, 08/01/31		67,000		83,349
MPLX L.P. 4.875%, 12/01/24		4,500,000		4,673,512
NGPL PipeCo LLC 7.768%, 12/15/37 (144A)		5,300,000		6,492,500
Northwest Pipeline LLC 4.000%, 04/01/27		14,460,000		13,988,909
Regency Energy Partners L.P. / Regency Energy Finance Corp. 5.875%, 03/01/22 (a)		780,000		825,267
Rockies Express Pipeline LLC 6.875%, 04/15/40 (144A)		4,875,000		5,557,500
7.500%, 07/15/38 (144A)		4,485,000		5,337,150
Southern Natural Gas Co. LLC 8.000%, 03/01/32		25,000		32,068
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp. 5.125%, 02/01/25		4,791,000		4,814,955
5.375%, 02/01/27		2,770,000		2,770,000
Williams Cos., Inc. (The) 8.750%, 03/15/32		28,712,000		38,318,096
				128,488,502
Real Estate—0.1%
Hunt Cos., Inc. 6.250%, 02/15/26 (144A)		5,160,000		4,811,700
Real Estate Investment Trusts—0.6%
CoreCivic, Inc. 5.000%, 10/15/22 (a)		5,400,000		5,332,500
CTR Partnership L.P. / CareTrust Capital Corp. 5.250%, 06/01/25		6,560,000		6,396,000
MPT Operating Partnership L.P. / MPT Finance Corp. 5.000%, 10/15/27		7,770,000		7,513,357
				19,241,857

BHFTII-280

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Retail—0.9%
1011778 BC ULC / New Red Finance, Inc. 5.000%, 10/15/25 (144A)		3,770,000	$	3,609,813
AutoZone, Inc. 2.500%, 04/15/21		800,000		779,206
Golden Nugget, Inc. 8.750%, 10/01/25 (144A) (a)		9,210,000		9,654,659
L Brands, Inc. 5.250%, 02/01/28 (a)		8,932,000		7,684,199
6.875%, 11/01/35		1,422,000		1,201,590
McDonald’s Corp. 2.750%, 12/09/20 (a)		441,000		438,398
3.700%, 01/30/26		1,047,000		1,036,857
Tendam Brands S.A.U. 5.000%, 09/15/24 (144A) (EUR)		1,350,000		1,485,129
5.250%, 3M EURIBOR + 5.250%, 09/15/24 (144A) (EUR) (c)		3,750,000		4,179,782
				30,069,633
Savings & Loans—0.3%
Nationwide Building Society 4.363%, 3M LIBOR + 1.392%, 08/01/24 (144A) (c)		9,910,000		9,854,968
Semiconductors—0.1%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.125%, 01/15/25		280,000		260,026
3.875%, 01/15/27		750,000		707,333
Cree, Inc. 0.875%, 09/01/23 (144A)		1,440,000		1,321,147
				2,288,506
Software—0.6%
First Data Corp. 7.000%, 12/01/23 (144A)		4,515,000		4,701,244
j2 Cloud Services LLC / j2 Global Co-Obligor, Inc. 6.000%, 07/15/25 (144A)		3,930,000		4,033,162
Microsoft Corp. 3.300%, 02/06/27		9,800,000		9,621,502
Splunk, Inc. 0.500%, 09/15/23 (144A)		1,700,000		1,754,815
				20,110,723
Telecommunications—3.4%
AT&T, Inc. 4.450%, 04/01/24		3,330,000		3,387,614
British Telecommunications plc 9.625%, 12/15/30		4,915,000		6,981,140
CommScope Technologies LLC 5.000%, 03/15/27 (144A) (a)		2,510,000		2,415,875
CommScope, Inc. 5.500%, 06/15/24 (144A)		2,200,000		2,216,500
Deutsche Telekom International Finance B.V. 2.485%, 09/19/23 (144A) (a)		10,717,000		10,107,207
Finisar Corp. 0.500%, 12/15/36		870,000		796,957

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Intelsat Jackson Holdings S.A. 5.500%, 08/01/23		5,400,000	$	4,978,800
Sprint Capital Corp. 8.750%, 03/15/32 (a)		9,850,000		11,078,196
Sprint Communications, Inc. 11.500%, 11/15/21 (a)		1,313,000		1,539,493
Sprint Corp. 7.125%, 06/15/24 (a)		3,510,000		3,646,013
7.250%, 09/15/21 (a)		1,390,000		1,468,188
7.625%, 03/01/26 (a)		2,330,000		2,465,723
7.875%, 09/15/23 (a)		5,700,000		6,140,952
T-Mobile USA, Inc. 4.750%, 02/01/28		4,590,000		4,320,338
6.500%, 01/15/24		803,000		834,116
Telecom Italia Capital S.A. 7.200%, 07/18/36		3,760,000		3,872,800
Telecom Italia S.p.A. 5.303%, 05/30/24 (144A) (a)		12,240,000		11,888,100
Telefonica Emisiones S.A.U. 4.103%, 03/08/27 (a)		5,600,000		5,379,892
Verizon Communications, Inc. 2.625%, 08/15/26		820,000		743,098
3.850%, 11/01/42		5,210,000		4,499,580
4.522%, 09/15/48		1,200,000		1,141,843
5.250%, 03/16/37		660,000		702,836
Vodafone Group plc 4.375%, 05/30/28		8,080,000		7,956,308
5.250%, 05/30/48		1,680,000		1,684,150
Windstream Services LLC / Windstream Finance Corp. 10.500%, 06/30/24 (144A)		12,215,000		10,382,750
				110,628,469
Transportation—1.2%
Navios Maritime Acquisition Corp. / Navios Acquisition Finance U.S., Inc. 8.125%, 11/15/21 (144A)		4,670,000		3,857,420
Neovia Logistics Services LLC / SPL Logistics Finance Corp. 8.875%, 08/01/20 (144A) (a)		8,000,000		7,240,000
Union Pacific Corp. 4.500%, 09/10/48		6,530,000		6,635,001
XPO CNW, Inc. 6.700%, 05/01/34		20,323,000		20,678,653
				38,411,074
Trucking & Leasing—0.6%
DAE Funding LLC 4.500%, 08/01/22 (144A)		4,041,000		3,939,975
5.000%, 08/01/24 (144A)		6,120,000		5,989,950
Park Aerospace Holdings, Ltd. 4.500%, 03/15/23 (144A)		3,800,000		3,709,750
5.250%, 08/15/22 (144A)		5,120,000		5,171,200
				18,810,875

BHFTII-281

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Water—0.1%
Anglian Water Osprey Financing plc 5.000%, 04/30/23 (GBP)		2,650,000	$	3,543,815
Total Corporate Bonds & Notes (Cost $1,850,832,567)				1,844,043,173
Mortgage-Backed Securities—9.1%
Asset-Backed - Other—0.2%
Oaktree CLO, Ltd. 7.548%, 3M LIBOR + 5.200%, 10/20/27 (144A) (c)		5,500,000		5,470,283
Collateralized Mortgage Obligations—5.0%
Banc of America Funding Corp. 2.195%, 02/27/37 (144A) (c)		15,867,613		12,469,624
Banc of America Funding Trust 2.335%, 1M LIBOR + 0.170%, 05/20/36 (c)		33,934		33,817
2.605%, 03/27/36 (144A) (c)		6,028,931		5,065,294
2.670%, 1M LIBOR + 0.165%, 09/29/36 (144A) (c)		40,277,001		29,193,943
11.420%, 01/27/30 (144A) (c)		14,959,099		7,176,359
Banc of America Mortgage Trust 4.373%, 09/25/35 (c)		66,861		64,817
BCAP LLC Trust 2.275%, 10/28/36 (144A) (c)		1,688,616		1,652,674
3.962%, 05/26/47 (144A) (c)		8,179,249		7,960,299
Bear Stearns Asset-Backed Securities Trust 24.636%, -1x 1M LIBOR + 33.583%, 07/25/36 (c)		434,591		608,785
Countrywide Alternative Loan Trust 2.395%, 1M LIBOR + 0.230%, 07/20/35 (c)		1,208,018		1,194,642
2.856%, 1M LIBOR + 0.640%, 07/25/35 (c)		955,447		940,005
5.750%, 01/25/37		2,360,592		2,061,206
6.000%, 01/25/37		2,471,420		2,242,214
12.065%, -1x 1M LIBOR + 16.940%, 06/25/35 (c)		1,625,216		1,756,486
16.153%, -1x 1M LIBOR + 22.800%, 02/25/36 (c)		1,482,659		1,424,888
19.737%, -1x 1M LIBOR + 28.600%, 07/25/36 (c)		2,652,272		3,528,039
25.705%, -1x 1M LIBOR + 39.000%, 08/25/37 (c)		1,270,983		1,826,678
Countrywide Alternative Loan Trust Resecuritization 6.000%, 08/25/37 (c)		3,180,247		2,301,933
Countrywide Home Loan Reperforming Loan REMIC Trust 4.130%, 03/25/35 (144A) (c) (d) (j)		5,680,684		337,433
Credit Suisse Mortgage Trust 2.265%, 1M LIBOR + 0.200%, 06/27/46 (144A) (c)		1,274,776		1,265,988
18.338%, -1x 1M LIBOR + 30.525%, 02/25/36 (c)		1,290,494		1,503,206
Flagstar Mortgage Trust 3.500%, 04/25/48 (144A) (c)		13,190,600		12,814,259
GreenPoint MTA Trust 2.656%, 1M LIBOR + 0.440%, 06/25/45 (c)		1,335,708		1,287,521
GSMPS Mortgage Loan Trust 2.616%, 1M LIBOR + 0.400%, 04/25/36 (144A) (c)		750,099		634,559
HarborView Mortgage Loan Trust 3.216%, 1M LIBOR + 1.000%, 10/25/37 (c)		1,373,292		1,379,890
IndyMac INDX Mortgage Loan Trust 2.936%, 1M LIBOR + 0.720%, 01/25/35 (c)		975,227		862,995
JPMorgan Mortgage Trust 2.500%, 03/25/43 (144A) (c)		10,014		9,575
3.500%, 10/25/48 (144A) (c)		9,429,562		9,223,896
6.500%, 01/25/36		99,649		82,032

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
JPMorgan Resecuritization Trust 2.275%, 1M LIBOR + 0.210%, 07/27/46 (144A) (c)		2,306,817	$	2,293,494
Lehman XS Trust 2.376%, 1M LIBOR + 0.160%, 03/25/47 (c)		1,639,362		1,620,819
2.416%, 1M LIBOR + 0.200%, 08/25/46 (c)		2,253,167		2,154,592
MASTR Adjustable Rate Mortgages Trust 4.100%, 11/25/35 (144A) (c)		48,894		39,850
MASTR Seasoned Securitization Trust 3.811%, 10/25/32 (c)		130,858		133,084
Merrill Lynch Mortgage Investors Trust 4.288%, 05/25/34 (c)		42,621		42,283
4.360%, 08/25/33 (c)		622,168		583,163
Morgan Stanley Mortgage Loan Trust 2.536%, 1M LIBOR + 0.320%, 01/25/35 (c)		665,375		653,782
New Residential Mortgage Loan Trust 4.250%, 09/25/56 (144A) (c)		7,706,134		7,577,315
Nomura Resecuritization Trust 2.325%, 1M LIBOR + 0.260%, 02/26/46 (144A) (c)		4,868,000		4,683,085
NovaStar Mortgage Funding Trust 2.406%, 1M LIBOR + 0.190%, 09/25/46 (c)		737,940		679,586
Prime Mortgage Trust 5.500%, 05/25/35 (144A)		383,160		359,184
6.000%, 05/25/35 (144A)		2,295,273		1,869,087
RBSGC Mortgage Loan Trust 2.666%, 1M LIBOR + 0.450%, 01/25/37 (c)		642,650		438,547
Residential Accredit Loans, Inc. Trust 3.177%, 11/25/37 (c)		3,812,774		3,375,062
Residential Asset Securitization Trust 5.750%, 02/25/36		1,879,788		1,866,973
Sequoia Mortgage Trust 3.179%, 6M LIBOR + 0.680%, 06/20/33 (c)		118,107		117,754
3.714%, 07/25/45 (144A) (c)		10,127		9,884
Structured Adjustable Rate Mortgage Loan Trust 3.604%, 1M LIBOR + 1.500%, 09/25/37 (c)		3,978,005		3,932,455
4.160%, 01/25/35 (c)		428,205		422,198
4.421%, 09/25/35 (c)		657,830		528,321
Structured Asset Mortgage Investments Trust 2.426%, 1M LIBOR + 0.210%, 05/25/46 (c)		203,497		174,426
2.496%, 1M LIBOR + 0.280%, 02/25/36 (c)		3,751,433		3,549,624
Structured Asset Securities Corp. Trust 2.566%, 1M LIBOR + 0.350%, 03/25/35 (c)		1,433,927		1,196,617
WaMu Mortgage Pass-Through Certificates Trust 2.268%, COFI + 1.250%, 03/25/47 (c)		1,799,755		1,712,385
2.486%, 1M LIBOR + 0.270%, 12/25/45 (c)		459,797		464,313
2.696%, 1M LIBOR + 0.480%, 12/25/45 (c)		13,657,639		8,517,231
3.580%, 09/25/36 (c)		683,792		615,451
4.200%, 10/25/34 (c)		583,361		584,905
4.210%, 08/25/33 (c)		1,292,392		1,274,822
4.464%, -1x 1M LIBOR + 6.680%, 04/25/37 (c) (e) (j)		11,220,114		2,393,404
Wells Fargo Mortgage-Backed Securities Trust 4.108%, 06/25/35 (c)		40,804		41,865
4.477%, 10/25/35 (c)		36,027		36,375
				164,844,993

BHFTII-282

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—3.9%
BAMLL Re-REMIC Trust 5.977%, 08/10/45 (144A) (c)		11,727,532	$	8,639,673
Banc of America Commercial Mortgage Trust 5.731%, 04/10/49 (c)		1,634,595		979,908
Bayview Commercial Asset Trust Zero Coupon, 07/25/37 (144A) (d) (j)		2,892,480		0
Bear Stearns Commercial Mortgage Securities Trust 6.581%, 06/11/50 (c)		613,335		612,846
BX Trust 7.658%, 1M LIBOR + 5.500%, 10/15/32 (144A) (c)		26,480,000		26,612,371
Citigroup Commercial Mortgage Trust 3.208%, 07/10/47 (144A) (c)		4,398,000		3,076,335
Commercial Mortgage Trust 3.000%, 12/10/47 (144A)		2,230,000		1,537,168
4.425%, 03/10/46 (144A) (c)		2,710,000		1,025,207
4.696%, 08/10/48 (144A) (c)		1,640,000		1,156,598
Credit Suisse Commercial Mortgage Trust 5.373%, 12/15/39		722,375		520,110
5.869%, 09/15/40 (c)		4,130,067		4,000,795
6.600%, 06/15/38 (c)		587,509		306,137
9.778%, 1M LIBOR + 7.620%, 07/15/32 (144A) (c)		26,600,000		26,554,708
Credit Suisse Mortgage Capital LLC 4.373%, 09/15/37 (144A)		7,620,000		6,822,595
DBUBS Mortgage Trust 3.750%, 08/10/44 (144A)		5,180,000		3,211,393
GE Business Loan Trust 2.578%, 1M LIBOR + 0.420%, 05/15/34 (144A) (c)		430,752		401,952
GE Commercial Mortgage Corp. Trust 5.677%, 12/10/49 (c)		220,000		69,038
GMAC Commercial Mortgage Securities, Inc. 5.349%, 11/10/45 (c)		1,038,525		958,908
GS Mortgage Securities Trust 5.622%, 11/10/39		1,879,517		1,609,242
JPMorgan Chase Commercial Mortgage Securities Trust 5.386%, 05/15/47 (c)		2,280,000		952,836
5.411%, 05/15/47		1,750,000		1,236,619
5.502%, 06/12/47 (c)		5,220,000		4,280,765
5.503%, 01/15/49 (c)		7,780,000		1,259,582
6.100%, 02/15/51 (c)		214,184		214,937
Lone Star Portfolio Trust 9.308%, 1M LIBOR + 6.900%, 09/15/28 (144A) (c)		5,545,947		5,573,672
9.350%, 1M LIBOR + 7.218%, 09/15/20 (144A) (c)		3,364,797		3,409,107
ML-CFC Commercial Mortgage Trust 5.450%, 08/12/48 (c)		535,402		417,614
5.450%, 08/12/48 (144A) (c)		61,259		47,782
6.193%, 09/12/49 (c)		1,739,748		1,334,726
6.222%, 09/12/49 (c)		1,498,685		1,149,769
Morgan Stanley Bank of America Merrill Lynch Trust 4.679%, 10/15/48 (144A) (c)		2,345,000		1,881,875
Morgan Stanley Capital Trust 5.399%, 12/15/43		1,151,645		874,390
Multifamily Trust 10.026%, 04/25/46 (144A) (c)		10,919,687		11,511,807
UBS-Barclays Commercial Mortgage Trust 5.000%, 05/10/63 (144A) (c)		4,530,000		2,730,134

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
Waterfall Commercial Mortgage Trust 4.104%, 09/14/22 (144A) (c)		1,565,290	$	1,551,207
				126,521,806
Total Mortgage-Backed Securities (Cost $289,410,613)				296,837,082
Floating Rate Loans (k)—8.4%
Auto Components—0.2%
American Axle & Manufacturing, Inc. Term Loan B, 4.462%, 1M LIBOR + 2.250%, 04/06/24		8,264,051		8,276,959
Building Materials—0.3%
Quikrete Holdings, Inc. 1st Lien Term Loan, 4.992%, 1M LIBOR + 2.750%, 11/15/23		8,528,173		8,553,229
Commercial Services—0.9%
Albany Molecular Research, Inc. 1st Lien Term Loan, 5.492%, 1M LIBOR + 3.250%, 08/30/24		7,147,800		7,167,900
Jaguar Holding Co. II Term Loan, 4.742%, 1M LIBOR + 2.500%, 08/18/22		6,215,087		6,226,740
Parexel International Corp. Term Loan B, 4.992%, 1M LIBOR + 2.750%, 09/27/24		6,514,200		6,483,661
Prime Security Services Borrower LLC 1st Lien Term Loan, 4.992%, 1M LIBOR + 2.750%, 05/02/22		8,165,909		8,214,676
				28,092,977
Distributors—0.3%
American Builders & Contractors Supply Co., Inc. Term Loan B, 4.242%, 1M LIBOR + 2.000%, 10/31/23		8,530,548		8,518,912
Entertainment—0.3%
Lions Gate Capital Holdings LLC Term Loan B, 4.492%, 1M LIBOR + 2.250%, 03/24/25		3,684,760		3,698,577
Scientific Games International, Inc. Term Loan B5, 5.034%, 3M LIBOR + 2.750%, 08/14/24		5,559,886		5,557,712
				9,256,289
Food—0.3%
Albertson’s LLC Term Loan B6, 5.311%, 3M LIBOR + 3.000%, 06/22/23		6,818,386		6,827,762
Post Holdings, Inc. Incremental Term Loan, 4.220%, 1M LIBOR + 2.000%, 05/24/24		3,026,717		3,030,879
				9,858,641

BHFTII-283

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Floating Rate Loans (k)—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—0.4%
MPH Acquisition Holdings LLC Term Loan B, 5.136%, 3M LIBOR + 2.750%, 06/07/23		7,266,220	$	7,288,360
RadNet, Inc. Term Loan, 6.090%, 3M LIBOR + 2.750%, 06/30/23		5,002,597		5,044,809
				12,333,169
Hotels, Restaurants & Leisure—0.2%
CEC Entertainment, Inc. Term Loan B, 5.492%, 1M LIBOR + 3.250%, 02/14/21		8,671,483		8,405,147
Insurance—0.2%
UFC Holdings LLC 1st Lien Term Loan, 5.500%, 1M LIBOR + 3.250%, 08/18/23		8,341,425		8,398,772
Internet—0.2%
Ancestry.com Operations, Inc. 1st Lien Term Loan, 5.500%, 1M LIBOR + 3.250%, 10/19/23		5,899,100		5,924,142
Leisure Time—0.1%
Intrawest Resorts Holdings, Inc. Term Loan B1, 5.242%, 1M LIBOR + 3.000%, 07/31/24		3,056,900		3,068,999
Lodging—0.5%
Boyd Gaming Corp. Term Loan B3, 4.417%, 1W LIBOR + 2.250%, 09/15/23		4,181,107		4,206,980
Caesars Resort Collection LLC 1st Lien Term Loan B, 4.992%, 1M LIBOR + 2.750%, 12/22/24		8,734,000		8,790,928
MGM Growth Properties Operating Partnership L.P. Term Loan B, 4.242%, 1M LIBOR + 2.000%, 03/21/25		2,457,405		2,463,330
				15,461,238
Media—1.0%
Advantage Sales & Marketing, Inc. 1st Lien Term Loan, 5.492%, 1M LIBOR + 3.250%, 07/23/21		6,977,320		6,460,998
American Media, Inc. Bridge Term Loan, 10.386%, 3M LIBOR + 8.000%, 09/30/19 (e)		8,470,000		8,321,775
CBS Radio, Inc. Term Loan B, 4.962%, 1M LIBOR + 2.750%, 11/17/24		8,737,970		8,672,365
Unitymedia Finance LLC Term Loan B, 4.408%, 1M LIBOR + 2.250%, 09/30/25		130,000		130,264
Univision Communications, Inc. Term Loan C5, 4.992%, 1M LIBOR + 2.750%, 03/15/24		8,707,277		8,480,270
				32,065,672

Security Description	Principal Amount*		Value
Packaging & Containers—0.9%
Berry Global, Inc. Term Loan Q, 4.186%, 3M LIBOR + 2.000%, 10/01/22		8,435,786	$	8,457,171
BWAY Holding Co. Term Loan B, 5.581%, 3M LIBOR + 3.250%, 04/03/24		6,418,750		6,422,762
Flex Acquisition Co., Inc. 1st Lien Term Loan, 5.337%, 3M LIBOR + 3.000%, 12/29/23		5,290,340		5,295,302
Reynolds Group Holdings, Inc. Term Loan, 4.992%, 1M LIBOR + 2.750%, 02/05/23		7,952,939		7,998,223
				28,173,458
Pharmaceuticals—0.1%
Change Healthcare Holdings LLC Term Loan B, 4.992%, 1M LIBOR + 2.750%, 03/01/24		2,623,574		2,635,233
Professional Services—0.0%
Trans Union LLC Term Loan B3, 4.242%, 1M LIBOR + 2.000%, 04/10/23		1,069,094		1,072,770
Retail—1.3%
Academy, Ltd. Term Loan B, 6.104%, 1M LIBOR + 4.000%, 07/01/22		9,698,155		7,568,605
CWGS Group LLC Term Loan, 4.870%, 1M LIBOR + 2.750%, 11/08/23		1,310,050		1,290,399
Michaels Stores, Inc. Term Loan B, 4.719%, 1M LIBOR + 2.500%, 01/28/23		6,589,147		6,558,969
Party City Holdings, Inc. Term Loan B, 5.139%, 6M LIBOR + 2.750%, 08/19/22		3,457,769		3,485,556
Petco Animal Supplies, Inc. Term Loan B, 5.592%, 3M LIBOR + 3.250%, 01/26/23		4,960,716		4,038,023
PetSmart, Inc. Term Loan B2, 5.120%, 1M LIBOR + 3.000%, 03/11/22		21,059,151		18,540,835
				41,482,387
Software—0.4%
Almonde, Inc. 1st Lien Term Loan, 5.886%, 3M LIBOR + 3.500%, 06/13/24		4,217,020		4,224,598
First Data Corp. Term Loan, 4.212%, 1M LIBOR + 2.000%, 04/26/24		5,599,274		5,609,426
MA FinanceCo. LLC Term Loan B3, 4.742%, 1M LIBOR + 2.500%, 06/21/24		468,417		466,660
Seattle Spinco, Inc. Term Loan B3, 4.742%, 1M LIBOR + 2.500%, 06/21/24		3,163,333		3,149,098
				13,449,782

BHFTII-284

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Floating Rate Loans (k)—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—0.5%
Level 3 Financing, Inc. Term Loan B, 4.432%, 1M LIBOR + 2.250%, 02/22/24		6,960,000	$	6,984,653
UPC Financing Partnership Term Loan AR, 4.658%, 1M LIBOR + 2.500%, 01/15/26		7,362,937		7,366,007
Virgin Media Bristol LLC Term Loan K, 4.658%, 1M LIBOR + 2.500%, 01/15/26		2,865,395		2,873,094
				17,223,754
Trucking & Leasing—0.3%
Avolon TLB Borrower 1 (U.S.) LLC Term Loan B3, 4.165%, 1M LIBOR + 2.000%, 01/15/25		11,615,472		11,666,313
Total Floating Rate Loans (Cost $277,705,800)				273,917,843
Foreign Government—8.0%
Regional Government—1.0%
Japan Finance Organization for Municipalities 4.000%, 01/13/21		1,900,000		1,930,695
Provincia de Buenos Aires 6.500%, 02/15/23 (144A) (a) (l)		27,940,000		24,377,839
7.875%, 06/15/27 (144A) (l)		2,470,000		2,053,830
9.125%, 03/16/24 (144A) (l)		2,660,000		2,449,594
				30,811,958
Sovereign—7.0%
Abu Dhabi Government International Bond 4.125%, 10/11/47 (144A)		3,130,000		2,989,150
Argentina POM Politica Monetaria 43.077%, 06/21/20 (ARS) (c)		307,940,000		8,876,529
Argentine Republic Government International Bonds 4.625%, 01/11/23 (a)		10,080,000		8,507,621
5.625%, 01/26/22		2,570,000		2,318,140
5.875%, 01/11/28 (a)		5,700,000		4,514,400
6.875%, 04/22/21		990,000		945,955
7.500%, 04/22/26		13,580,000		12,086,200
7.625%, 04/22/46		1,170,000		948,882
Bahamas Government International Bond 5.750%, 01/16/24 (144A)		1,500,000		1,522,500
Bermuda Government International Bond 4.138%, 01/03/23 (144A)		2,000,000		2,026,800
Bonos de la Nacion Argentina con Ajuste por CER 4.000%, 03/06/20 (ARS) (l)		95,160,000		2,707,992
Brazil Notas do Tesouro Nacional 10.000%, 01/01/21 (BRL)		81,217,000		20,327,572
10.000%, 01/01/27 (BRL)		46,432,000		10,561,625
Brazilian Government International Bond 6.000%, 04/07/26 (a)		6,470,000		6,631,750
Ecuador Government International Bonds 8.750%, 06/02/23 (144A)		1,740,000		1,741,740
10.750%, 03/28/22 (144A)		8,450,000		8,978,125

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Ghana Government International Bonds 7.625%, 05/16/29 (144A)		10,140,000	$	10,149,552
8.125%, 01/18/26 (l)		4,200,000		4,362,540
Honduras Government International Bond 6.250%, 01/19/27		4,140,000		4,249,089
Indonesia Government International Bonds 5.125%, 01/15/45		3,000,000		3,004,881
5.250%, 01/17/42		15,090,000		15,378,883
Indonesia Treasury Bonds 7.000%, 05/15/22 (IDR)		9,560,000,000		626,516
7.000%, 05/15/27 (IDR)		382,929,000,000		23,770,045
8.375%, 09/15/26 (IDR)		66,608,000,000		4,502,391
Kuwait International Government Bond 3.500%, 03/20/27 (144A)		11,030,000		10,809,400
Mexico Government International Bond 4.125%, 01/21/26 (a)		8,170,000		8,094,264
Qatar Government International Bond 5.103%, 04/23/48 (144A)		10,100,000		10,504,000
Russian Federal Bond - OFZ 7.050%, 01/19/28 (RUB)		1,755,525,000		24,546,332
Senegal Government International Bonds 6.250%, 05/23/33 (144A) (l)		8,720,000		8,121,895
6.750%, 03/13/48 (144A) (l)		4,470,000		3,996,359
				227,801,128
Total Foreign Government (Cost $290,710,143)				258,613,086
Asset-Backed Securities—5.2%
Asset-Backed - Automobile—0.1%
Hertz Vehicle Financing II LP 3.600%, 02/25/24 (144A)		3,510,000		3,411,336
Asset-Backed - Credit Card—0.2%
CreditShop Credit Card Co. LLC 10.158%, 1M LIBOR + 8.000%, 10/15/22 (144A) (c)		5,074,803		5,082,222
Asset-Backed - Home Equity—0.3%
Asset-Backed Securities Corp. Home Equity Loan Trust 5.008%, 1M LIBOR + 2.850%, 04/15/33 (c)		390		395
Bear Stearns Asset-Backed Securities Trust 2.956%, 1M LIBOR + 0.740%, 01/25/34 (c)		14,729		14,446
EMC Mortgage Loan Trust 3.116%, 1M LIBOR + 0.900%, 05/25/43 (144A) (c)		209,217		207,014
Structured Asset Securities Corp. Mortgage Loan Trust 2.436%, 1M LIBOR + 0.220%, 02/25/36 (144A) (c)		2,606,907		138,203
WaMu Asset-Backed Certificates Trust 2.386%, 1M LIBOR + 0.170%, 07/25/47 (c)		9,924,893		7,864,501
				8,224,559
Asset-Backed - Manufactured Housing—0.2%
Origen Manufactured Housing Contract Trust 3.953%, 10/15/37 (c)		1,169,602		1,130,267
4.538%, 04/15/37 (c)		1,120,974		1,090,516

BHFTII-285

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Manufactured Housing—(Continued)
UCFC Manufactured Housing Contract 7.095%, 04/15/29 (c)		3,795,228	$	3,643,969
				5,864,752
Asset-Backed - Other—4.4%
AIMCO CLO 6.028%, 3M LIBOR + 3.680%, 07/20/29 (144A) (c)		6,750,000		6,793,328
Ammc CLO, Ltd. 8.146%, 3M LIBOR + 5.810%, 04/17/29 (144A) (c)		6,600,000		6,578,827
Amortizing Residential Collateral Trust 4.016%, 1M LIBOR + 1.800%, 08/25/32 (c)		23,169		21,127
Applebee’s Funding LLC / IHOP Funding LLC 4.277%, 09/05/44 (144A)		5,157,900		5,081,949
Ares CLO, Ltd. 8.889%, 3M LIBOR + 6.550%, 10/15/29 (144A) (c)		9,300,000		9,371,275
8.939%, 3M LIBOR + 6.600%, 10/15/27 (144A) (c)		5,500,000		5,505,110
Avery Point VI CLO, Ltd. 5.163%, 3M LIBOR + 2.950%, 08/05/27 (144A) (c)		2,280,000		2,274,093
Barings CLO, Ltd. 9.783%, 3M LIBOR + 7.450%, 07/18/29 (144A) (c)		1,700,000		1,606,973
Bear Stearns Asset-Backed Securities Trust 6.000%, 10/25/36		1,630,949		1,267,764
Carlyle Global Market Strategies CLO, Ltd. 6.048%, 3M LIBOR + 3.700%, 07/20/31 (144A) (c)		9,500,000		9,624,887
Catskill Park CLO, Ltd. 8.348%, 3M LIBOR + 6.000%, 04/20/29 (144A) (c)		7,600,000		7,612,373
Cent CLO 24, Ltd. 5.366%, 3M LIBOR + 3.150%, 10/15/26 (144A) (c)		5,240,000		5,234,881
Countrywide Asset-Backed Certificates Trust 4.091%, 1M LIBOR + 1.875%, 06/25/34 (c)		114,427		109,456
Countrywide Revolving Home Equity Loan Resecuritization Trust 2.458%, 1M LIBOR + 0.300%, 12/15/33 (144A) (c)		150,974		142,398
Countrywide Revolving Home Equity Loan Trust 2.298%, 1M LIBOR + 0.140%, 07/15/36 (c)		270,263		256,308
CVP CLO, Ltd. 4.998%, 3M LIBOR + 2.650%, 01/20/31 (144A) (c)		4,500,000		4,369,613
First Horizon Asset-Backed Trust 2.376%, 1M LIBOR + 0.160%, 10/25/34 (c)		2,158		2,143
Greenwood Park CLO, Ltd. 6.975%, 3M LIBOR + 4.950%, 04/15/31 (144A) (c)		7,380,000		7,001,310
Long Beach Mortgage Loan Trust 2.702%, 1M LIBOR + 0.520%, 01/21/31 (c)		16,202		15,788
Midocean Credit CLO VII 6.219%, 3M LIBOR + 3.880%, 07/15/29 (144A) (c)		4,750,000		4,774,320
Ocean Trails CLO 10.089%, 3M LIBOR + 7.750%, 07/15/28 (144A) (c)		5,120,000		5,228,677
SACO I Trust 2.556%, 1M LIBOR + 0.340%, 03/25/36 (c)		52,584		51,270
Saranac CLO III, Ltd. 5.616%, 3M LIBOR + 3.250%, 06/22/30 (144A) (c)		4,652,500		4,651,537
SBA Small Business Investment Cos. 2.845%, 03/10/27		4,075,805		3,962,478

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
SoFi Consumer Loan Program LLC 3.280%, 01/26/26 (144A)		2,661,650	$	2,658,098
Thayer Park CLO, Ltd. 8.448%, 3M LIBOR + 6.100%, 04/20/29 (144A) (c)		8,400,000		8,447,771
Treman Park CLO, Ltd. 6.208%, 3M LIBOR + 3.860%, 04/20/27 (144A) (c)		1,700,000		1,701,125
Upgrade Pass-Through Trust 5.339%, 10/15/24 (144A) (d) (i)		1,951,000		1,951,606
12.075%, 09/15/24 (144A) (i)		2,226,277		2,226,357
14.960%, 12/27/27 (144A) (c) (i)		2,709,279		2,693,247
15.190%, 01/26/27 (144A) (c) (i)		2,161,178		2,151,046
15.308%, 08/15/24 (144A) (i)		2,658,095		2,658,506
15.498%, 06/15/24 (144A) (i)		2,458,260		2,458,632
16.537%, 05/15/24 (144A) (i)		2,356,337		2,354,351
Venture CLO, Ltd. 6.398%, 3M LIBOR + 4.050%, 04/20/27 (144A) (c)		9,105,000		9,092,034
8.079%, 3M LIBOR + 5.740%, 04/15/27 (144A) (c)		4,000,000		3,981,228
Voya CLO, Ltd. 8.359%, 3M LIBOR + 6.020%, 06/07/30 (144A) (c)		3,500,000		3,514,522
WhiteHorse, Ltd. Zero Coupon, 3M LIBOR + 3.650%, 10/15/31 (144A) (c)		6,180,000		6,180,000
				143,606,408
Asset-Backed - Student Loan—0.0%
Nelnet Student Loan Trust Zero Coupon, 28 day Auction Rate Index, 03/22/32 (c)		123,000		120,008
SoFi Professional Loan Program LLC Zero Coupon, 08/25/36 (144A)		500		1,202,178
				1,322,186
Total Asset-Backed Securities (Cost $167,288,629)				167,511,463
U.S. Treasury & Government Agencies—4.1%
Agency Sponsored Mortgage-Backed—2.7%
Fannie Mae 15 Yr. Pool 3.000%, TBA (m)		100,000		98,771
5.000%, 12/01/21		7,249		7,467
Fannie Mae 20 Yr. Pool 3.000%, 12/01/37		1,982,106		1,923,810
8.500%, 08/01/19		725		728
Fannie Mae 30 Yr. Pool 3.000%, 11/01/46		1,038,828		995,157
3.000%, TBA (m)		4,600,000		4,401,859
5.000%, 01/01/39		268,667		285,137
5.000%, 06/01/40		156,224		166,229
5.000%, 07/01/40		108,495		115,433
6.000%, 07/01/38		14,883		16,074
6.500%, 08/01/31		286		314
6.500%, 12/01/36		1,008		1,140
6.500%, 06/01/37		15,825		17,349
6.500%, 10/01/37		16,111		17,804

BHFTII-286

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
7.000%, 05/01/26		1,150	$	1,190
7.000%, 07/01/30		251		255
7.000%, 01/01/31		260		274
7.000%, 07/01/31		1,183		1,239
7.000%, 09/01/31		2,570		2,756
7.000%, 10/01/31		2,404		2,646
7.000%, 11/01/31		17,293		17,921
7.000%, 01/01/32		5,480		5,565
7.000%, 02/01/32		4,145		4,233
7.500%, 12/01/29		443		448
7.500%, 01/01/30		424		485
7.500%, 02/01/30		310		312
7.500%, 06/01/30		215		215
7.500%, 08/01/30		79		81
7.500%, 09/01/30		524		575
7.500%, 10/01/30		79		85
7.500%, 11/01/30		9,553		9,911
7.500%, 02/01/31		1,130		1,140
8.000%, 08/01/27		188		192
8.000%, 07/01/30		484		564
8.000%, 09/01/30		380		393
Fannie Mae REMICS (CMO) 2.566%, 1M LIBOR + 0.350%, 05/25/34 (c)		102,750		102,830
4.500%, 06/25/29		201,719		206,521
9.750%, 11/25/18		401		400
9.750%, 08/25/19		189		191
Freddie Mac 20 Yr. Gold Pool 3.000%, 02/01/38		2,308,088		2,228,093
3.000%, 04/01/38		2,030,764		1,962,002
Freddie Mac 30 Yr. Gold Pool 3.000%, 04/01/47		1,587,794		1,520,734
3.000%, TBA (m)		6,500,000		6,218,037
4.000%, TBA (m)		4,400,000		4,442,761
6.000%, 12/01/36		14,991		16,581
6.000%, 02/01/37		11,584		12,684
7.000%, 03/01/39		99,620		111,830
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 1.375%, 08/25/42 (c) (j)		70,400,000		3,157,581
Freddie Mac REMICS (CMO) 1,156.500%, 06/15/21 (j)		2		12
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 5.666%, 1M LIBOR + 3.450%, 10/25/29 (c)		4,620,000		5,092,036
6.666%, 1M LIBOR + 4.450%, 03/25/30 (c)		8,840,000		9,940,495
6.716%, 1M LIBOR + 4.500%, 02/25/24 (c)		2,210,000		2,554,919
7.366%, 1M LIBOR + 5.150%, 10/25/29 (c)		10,500,000		12,317,150
Ginnie Mae I 30 Yr. Pool 5.000%, 04/15/35		9,486		10,111
5.500%, 01/15/34		45,356		49,282
5.500%, 04/15/34		13,701		14,988
5.500%, 07/15/34		77,371		84,012
5.500%, 10/15/34		45,656		49,094
5.750%, 10/15/38		95,640		103,635
6.000%, 02/15/33		1,321		1,442

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae I 30 Yr. Pool
6.000%, 03/15/33		4,615	$	5,010
6.000%, 06/15/33		4,058		4,467
6.000%, 07/15/33		6,322		6,917
6.000%, 09/15/33		5,123		5,535
6.000%, 10/15/33		2,727		2,974
6.000%, 08/15/34		21,092		22,789
6.500%, 03/15/29		1,387		1,522
6.500%, 02/15/32		746		838
6.500%, 03/15/32		893		1,006
6.500%, 11/15/32		3,833		4,240
7.000%, 03/15/31		94		96
Ginnie Mae II 30 Yr. Pool 3.000%, 09/20/47		751,313		728,309
3.000%, TBA (m)		3,000,000		2,905,488
3.500%, TBA (m)		11,400,000		11,335,653
4.000%, TBA (m)		3,100,000		3,152,373
5.000%, 08/20/34		47,959		51,088
5.000%, 09/20/48		2,800,000		2,927,857
5.000%, TBA (m)		1,800,000		1,879,312
5.500%, 03/20/34		6,829		7,358
6.000%, 05/20/32		9,212		10,043
6.000%, 11/20/33		11,138		12,165
Ginnie Mae II ARM Pool 3.770%, 1Y CMT + 1.440%, 01/20/60 (c)		660,352		677,916
4.085%, 1Y CMT, 05/20/60 (c)		454,114		467,087
Government National Mortgage Association (CMO) 0.421%, 03/16/47 (c) (j)		6,752,382		95,363
0.486%, 04/16/52 (c) (j)		11,577,938		192,795
2.380%, 1M LIBOR + 0.300%, 05/20/68 (c)		3,141,851		3,133,442
3.000%, 04/20/41		489,772		481,055
				86,407,871
Federal Agencies—0.1%
Tennessee Valley Authority 5.980%, 04/01/36		1,760,000		2,267,697
U.S. Treasury—1.3%
U.S. Treasury Notes 1.250%, 03/31/19		40,060,000		39,829,968
2.875%, 05/15/28		1,100,000		1,083,543
2.875%, 08/15/28 (a)		3,120,000		3,072,712
				43,986,223
Total U.S. Treasury & Government Agencies (Cost $131,657,163)				132,661,791
Convertible Bonds—0.8%
Internet—0.0%
Twitter, Inc. 0.250%, 06/15/24		1,170,000		1,024,603

BHFTII-287

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Convertible Bonds—(Continued)

Security Description	Shares/ Principal Amount*		Value
Media—0.5%
DISH Network Corp. 2.375%, 03/15/24		5,890,000	$	5,220,507
3.375%, 08/15/26 (a)		3,090,000		2,947,137
Liberty Media Corp. 2.125%, 03/31/48		7,700,000		7,583,438
				15,751,082
Oil & Gas—0.1%
Chesapeake Energy Corp. 5.500%, 09/15/26 (a)		4,120,000		4,069,518
Pipelines—0.1%
Cheniere Energy, Inc. 4.250%, 03/15/45		2,020,000		1,620,290
Telecommunications—0.1%
GCI Liberty, Inc. (144A) 1.750%, 09/30/46 (a)		4,110,000		4,517,083
Total Convertible Bonds (Cost $27,352,816)				26,982,576
Convertible Preferred Stock—0.2%
Banks—0.2%
Wells Fargo & Co., Series L 7.500%, 12/31/49 (Cost $5,598,292)		4,965		6,409,219
Common Stocks—0.1%
Air Freight & Logistics—0.0%
Ceva Logistics AG (n)		12,627		240,608
Diversified Consumer Services—0.0%
Ascent CNR Corp. - Class A (e) (n)		1,399,556		27,991
Marine—0.0%
Tricer Holdco SCA (e) (h) (i) (n)		23,504		86,025
Media—0.0%
Cengage Learning, Inc. (n)		10,995		109,950
ION Media Networks, Inc. (n)		785		490,625
				600,575
Oil, Gas & Consumable Fuels—0.1%
Berry Petroleum Corp. (a) (e)		166,055		2,925,889
Total Common Stocks (Cost $6,058,023)				3,881,088

Municipals—0.1%
Security Description	Shares/ Principal Amount*		Value
Massachusetts State Development Finance Agency, Board Institute, Revenue Bond 5.375%, 04/01/41		400,000	$	432,116
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds 5.000%, 12/15/30		750,000		805,103
5.000%, 12/15/31		1,550,000		1,660,716
Virginia Housing Development Authority 6.000%, 06/25/34		633,079		652,666
Total Municipals (Cost $3,513,011)				3,550,601
Preferred Stocks—0.1%
Banks—0.0%
Citigroup Capital, 8.709%, 3M LIBOR + 6.370%, 10/30/40 (c)		51,160		1,373,646
Capital Markets—0.1%
B. Riley Financial, Inc., 6.875%, 09/30/23		64,075		1,605,078
Marine—0.0%
Tricer Tracking Preferred Equity Certificates, 8.000%, (e) (h) (i)		11,281,287		112,813
Total Preferred Stocks (Cost $3,776,699)				3,091,537
Escrow Shares—0.0%
Energy Equipment & Services—0.0%
Hercules Offshore, Inc. (e) (h) (i)		10,611		2,992
Forest Products & Paper—0.0%
Sino-Forest Corp. (h)		1,246,000		0
Sino-Forest Corp. (h)		500,000		0
				0
Oil & Gas—0.0%
Berry Petroleum Co. LLC (e) (g) (h) (i)		850,000		0
Berry Petroleum Co. LLC (e) (g) (h) (i)		1,040,000		0
				0
Total Escrow Shares (Cost $476,680)				2,992
Short-Term Investments—5.2%
Repurchase Agreements—5.2%
Bank of America N.A. Repurchase Agreement dated 09/28/18 at 2.250%, due on 10/01/18 with a maturity value of $80,015,000; collateralized by a U.S. Treasury Note at 2.375%, maturing 03/15/21, with a market value of $81,487,828		80,000,000		80,000,000

BHFTII-288

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $90,496,651; collateralized by U.S. Treasury Note at 2.375%, maturing 08/15/24, with a market value of $92,299,651.		90,489,110	$	90,489,110
Total Short-Term Investments (Cost $170,489,110)				170,489,110
Securities Lending Reinvestments (o)—8.3%
Certificates of Deposit—5.1%
Banco Del Estado De Chile New York 2.398%, 1M LIBOR + 0.240%, 01/17/19 (c)		4,000,000		4,001,008
Banco Santander S.A. 2.340%, 11/07/18		6,000,000		6,000,492
Bank of Montreal Zero Coupon, 10/31/18		1,496,803		1,497,094
Bank of Nova Scotia 2.618%, 3M LIBOR + 0.280%, 03/20/19 (c)		10,000,000		10,009,540
Barclays Bank plc 2.304%, 1M LIBOR + 0.200%, 02/04/19 (c)		10,000,000		9,997,970
2.500%, 02/01/19		3,000,000		2,999,958
Canadian Imperial Bank of Commerce 2.459%, 3M LIBOR + 0.120%, 01/14/19 (c)		5,000,000		5,001,485
Commonwealth Bank of Australia 2.487%, 3M LIBOR + 0.140%, 04/23/19 (c)		3,500,000		3,501,253
Cooperative Rabobank UA 2.479%, 3M LIBOR + 0.140%, 10/16/18 (c)		11,500,000		11,500,861
Credit Industriel et Commercial Zero Coupon, 01/25/19		3,948,913		3,968,120
Credit Industriel et Commercial (NY) 2.364%, 1M LIBOR + 0.250%, 02/05/19 (c)		5,000,000		5,002,365
Industrial & Commercial Bank of China, Ltd. 2.500%, 10/24/18		1,500,000		1,500,019
2.500%, 11/15/18		2,500,000		2,499,940
Landesbank Baden-Wuettertemberg 2.180%, 10/02/18		5,000,000		5,000,010
Mizuho Bank, Ltd. 2.571%, 1M LIBOR + 0.440%, 10/11/18 (c)		3,000,000		3,000,075
Mizuho Bank, Ltd., New York 2.468%, 1M LIBOR + 0.250%, 11/26/18 (c)		4,000,000		3,999,868
Natixis S.A. New York 2.431%, 3M LIBOR + 0.090%, 05/10/19 (c)		4,000,000		3,999,684
Royal Bank of Canada New York 2.378%, 1M LIBOR + 0.210%, 09/17/19 (c)		8,000,000		7,999,560
Standard Chartered plc 2.396%, 1M LIBOR + 0.180%, 02/25/19 (c)		8,000,000		7,999,064
2.551%, 1M LIBOR + 0.420%, 10/11/18 (c)		5,000,000		5,000,250
Sumitomo Mitsui Banking Corp., New York 2.276%, 1M LIBOR + 0.200%, 04/03/19 (c)		2,001,364		1,999,742
Sumitomo Mitsui Trust Bank, Ltd. 2.290%, 1M LIBOR + 0.170%, 12/06/18 (c)		3,000,000		3,000,156
2.502%, 1M LIBOR + 0.320%, 11/21/18 (c)		4,000,000		4,000,000

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Sumitomo Mitsui Trust Bank, Ltd., London 2.321%, 1M LIBOR + 0.190%, 04/11/19 (c)		10,000,000	$	9,999,530
2.528%, 1M LIBOR + 0.310%, 11/26/18 (c)		7,000,000		7,000,000
Svenska Handelsbanken AB 2.439%, 3M LIBOR + 0.100%, 04/30/19 (c)		5,000,000		5,000,595
Toronto-Dominion Bank 2.378%, 1M LIBOR + 0.210%, 09/17/19 (c)		6,000,000		6,000,000
Wells Fargo Bank N.A. 2.473%, 3M LIBOR + 0.140%, 07/11/19 (c)		8,000,000		8,000,912
2.475%, 3M LIBOR + 0.140%, 10/26/18 (c)		4,000,000		4,000,664
Westpac Banking Corp. 2.630%, FEDEFF PRV + 0.450%, 02/15/19 (c)		12,500,000		12,506,639
				165,986,854
Commercial Paper—1.2%
Bank of China, Ltd. 2.510%, 11/02/18		4,968,276		4,989,000
2.550%, 10/19/18		3,478,431		3,495,506
2.550%, 12/20/18		2,980,875		2,982,741
ING Funding LLC 2.448%, 3M LIBOR + 0.110%, 05/10/19 (c)		10,000,000		10,001,030
Sheffield Receivables Co. 2.490%, 11/26/18		986,928		996,159
Sinopec Century Bright Capital Investment, Ltd. 2.400%, 11/01/18		4,970,000		4,989,170
UBS AG 2.534%, 1M LIBOR + 0.430%, 02/01/19 (c)		11,000,000		11,010,153
Westpac Banking Corp. 2.492%, 1M LIBOR + 0.280%, 05/24/19 (c)		2,000,000		2,001,108
				40,464,867
Master Demand Notes—0.3%
Natixis Financial Products LLC 2.420%, 10/01/18		10,000,000		10,000,000
Repurchase Agreements—1.5%
Citigroup Global Markets, Inc. Repurchase Agreement dated 05/03/18 at 2.440%, due on 10/05/18 with a maturity value of $3,031,517; collateralized by U.S. Treasury Obligations with rates ranging from 1.625% - 2.250%, maturity dates ranging from 11/30/19 - 11/15/27, and various Common Stock with an aggregate market value of $3,162,858.		3,000,000		3,000,000
Repurchase Agreement dated 07/25/18 at 2.570%, due on 11/02/18 with a maturity value of $5,035,694; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Repurchase Agreement dated 01/25/17 at 2.720%, due on 12/31/18 with a maturity value of $2,106,533; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 2.220%, maturity dates ranging from 11/01/18 - 04/30/20, and an aggregate market value of $2,040,000.		2,000,000		2,000,000

BHFTII-289

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (o)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $23,585; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.500%, maturity dates ranging from 10/25/18 - 02/15/43, and an aggregate market value of $24,052.		23,581	$	23,581
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,200,224; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $1,224,000.		1,200,000		1,200,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $700,131; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $714,000.		700,000		700,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $1,100,205; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.375% - 3.125%, maturity dates ranging from 12/17/18 - 02/15/43, and an aggregate market value of $1,122,000.		1,100,000		1,100,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $713,191; collateralized by various Common Stock with an aggregate market value of $779,326.		700,000		700,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $702,776; collateralized by various Common Stock with an aggregate market value of $777,872.		700,000		700,000
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.720%, due on 12/31/18 with a maturity value of $12,988,278; collateralized by various Common Stock with an aggregate market value of $13,750,001.		12,500,000		12,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $7,003,362; collateralized by various Common Stock with an aggregate market value of $7,701,500.		7,000,000		7,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $1,215,522; collateralized by various Common Stock with an aggregate market value of $1,335,186.		1,200,000		1,200,000

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $506,641; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $555,324.		500,000	$	500,000
Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $1,011,999; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $1,012,448; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648.		1,000,000		1,000,000
Repurchase Agreement dated 04/18/18 at 2.340%, due on 10/05/18 with a maturity value of $3,033,150; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,331,945.		3,000,000		3,000,000
Repurchase Agreement dated 05/10/18 at 2.340%, due on 10/05/18 with a maturity value of $3,028,860; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,331,945.		3,000,000		3,000,000
Repurchase Agreement dated 07/10/18 at 2.340%, due on 10/05/18 with a maturity value of $5,732,234; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $6,330,696.		5,700,000		5,700,000
				49,323,581
Time Deposits—0.2%
DZ Bank AG 2.150%, 10/01/18		1,000,000		1,000,000
Nordea Bank New York 2.140%, 10/01/18		1,000,000		1,000,000
Skandinaviska Enskilda Banken 2.130%, 10/01/18		2,000,000		2,000,000

BHFTII-290

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (o)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Svenska Handelsbanken AB 2.140%, 10/01/18		1,000,000	$	1,000,000
				5,000,000
Total Securities Lending Reinvestments (Cost $270,741,556)				270,775,302
Total Purchased Options—0.5% (p) (Cost $18,893,782)				15,424,372
Total Investments—106.8% (Cost $3,514,504,884)				3,474,191,235
Other assets and liabilities (net)—(6.8)%				(219,953,738	)
Net Assets—100.0%			$	3,254,237,497

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $256,951,474 and the collateral received consisted of cash in the amount of $270,655,171. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Payment-in-kind security for which part of the income earned may be paid as additional principal.
(c)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of September 30, 2018, the market value of restricted securities was $11,751,880, which is 0.4% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Illiquid security. As of September 30, 2018, these securities represent 1.0% of net assets.
(f)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(g)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(h)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(i)	Security was valued in good faith under procedures approved by the Board of Trustees. As of September 30, 2018, these securities represent 1.1% of net assets.
(j)	Interest only security.
(k)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(l)	Principal amount of security is adjusted for inflation.
(m)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(n)	Non-income producing security.
(o)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(p)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $1,283,078,485, which is 39.7% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Alta Wind Holdings LLC, 7.000%, 06/30/35		07/14/10	$	1,303,687	$	1,303,687	$	1,392,486
American Media, Inc., 5.500%, 09/01/21		05/01/18		5,350,000		4,981,218		5,303,188
Bayview Commercial Asset Trust, Zero Coupon, 07/25/37		11/23/10		2,892,480		275,690		0
Countrywide Home Loan Reperforming Loan REMIC Trust, 4.130%, 03/25/35		01/08/15		5,680,684		827,250		337,433
Midwest Vanadium Pty, Ltd., 11.500%, 02/15/18		05/05/11-05/24/11		932,290		961,424		93
NSG Holdings LLC / NSG Holdings, Inc., 7.750%, 12/15/25		01/25/13		2,524,127		2,669,215		2,767,074
Upgrade Pass-Through Trust, 5.339%, 10/15/24		08/03/18		1,951,000		1,970,510		1,951,606
							$	11,751,880

BHFTII-291

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
ARS	20,000,000	JPMC		11/20/18		USD	606,953	$	(152,387	)
ARS	150,610,000	JPMC		11/20/18		USD	4,534,875		(1,111,771	)
ARS	232,614,000	CBNA		01/28/19		USD	7,104,887		(2,176,326	)
AUD	26,310,000	CBNA		10/18/18		USD	19,400,126		(380,467	)
BRL	76,742,223	CBNA		10/18/18		USD	19,365,656		(385,638	)
CAD	21,912,000	BBP		10/18/18		USD	16,797,562		173,229
EUR	1,750,000	CBNA		10/18/18		USD	2,030,084		4,297
EUR	4,600,000	CBNA		10/18/18		USD	5,352,330		(4,815	)
EUR	5,500,000	CBNA		10/18/18		USD	6,485,045		(91,277	)
EUR	19,860,000	CBNA		10/18/18		USD	23,050,529		36,786
IDR	4,058,350,828	BBP		10/18/18		USD	278,618		(6,777	)
INR	957,430,000	BBP		10/17/18		USD	13,759,191		(574,768	)
JPY	3,636,585,811	BBP		10/18/18		USD	32,673,140		(629,458	)
MXN	36,000,000	BBP		10/18/18		USD	1,928,449		(9,548	)
MXN	176,176,473	CBNA		10/18/18		USD	9,188,540		202,163
MXN	160,695,830	JPMC		10/18/18		USD	8,301,476		264,065
PLN	63,703,719	BBP		10/18/18		USD	17,258,268		26,422
RUB	13,134,950	BBP		10/18/18		USD	209,481		(9,315	)
TRY	45,863,100	CBNA		10/18/18		USD	9,079,105		(1,562,179	)
TWD	83,983,500	BBP		10/18/18		USD	2,752,655		728
TWD	80,303,800	CBNA		10/18/18		USD	2,615,759		16,985
TWD	80,978,300	JPMC		10/18/18		USD	2,635,583		19,274
Contracts to Deliver
ARS	307,962,000	BBP		11/15/18		USD	7,492,993		450,958
ARS	409,000,000	CBNA		11/20/18		USD	9,489,559		193,700
AUD	8,810,800	BBP		10/18/18		USD	6,508,318		138,937
AUD	6,213,512	BBP		10/18/18		USD	4,629,172		137,386
BRL	15,262,330	BOA		10/18/18		USD	3,900,118		125,412
BRL	33,900,000	CBNA		10/18/18		USD	8,125,599		(258,607	)
CAD	44,280,407	CBNA		10/18/18		USD	33,793,195		(501,874	)
EUR	31,803,056	BBP		10/18/18		USD	36,340,303		(630,854	)
EUR	50,994,678	CBNA		10/18/18		USD	60,115,459		833,979
EUR	39,598,000	CBNA		10/18/18		USD	46,680,399		647,595
EUR	3,100,000	CBNA		10/18/18		USD	3,544,137		(59,623	)
EUR	3,000,000	CBNA		10/18/18		USD	3,497,643		10,133
GBP	19,671,833	CBNA		10/18/18		USD	26,100,588		442,199
IDR	122,145,000,000	BBP		10/18/18		USD	7,946,975		(234,684	)
INR	465,592,000	CBNA		10/17/18		USD	6,462,068		50,569
MXN	60,000,000	BBP		10/18/18		USD	3,120,282		(77,887	)
MXN	158,400,000	JPMC		10/18/18		USD	8,117,249		(325,918	)
NZD	7,900,000	JPMC		10/18/18		USD	5,404,903		167,885
PHP	903,278,000	CBNA		10/18/18		USD	16,715,762		17,864
PHP	1,036,098,000	DBAG		11/15/18		USD	19,587,825		473,133
PHP	416,000,000	DBAG		11/15/18		USD	7,826,905		152,234
PHP	351,249,000	DBAG		11/15/18		USD	6,637,358		157,261
SEK	48,435,647	BOA		10/18/18		USD	5,592,805		135,793
TRY	48,057,000	CBNA		10/18/18		USD	7,593,143		(283,362	)
TWD	92,521,000	BBP		10/18/18		USD	3,047,664		14,382
TWD	3,000	BBP		10/18/18		USD	99		—
TWD	145,380,000	CBNA		10/18/18		USD	4,773,600		7,346
ZAR	198,594	JPMC		10/18/18		USD	14,760		746
Net Unrealized Depreciation								$	(4,566,074	)

BHFTII-292

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		12/16/19		2,824			USD	683,831,600		$	(2,839,183	)
90 Day Eurodollar Futures		06/15/20		3,478			USD	841,936,850			(4,658,086	)
Euro-BTP Futures		12/06/18		138			EUR	17,089,920			248,133
U.S. Treasury Note 10 Year Futures		12/19/18		5,105			USD	606,378,281			(7,416,807	)
U.S. Treasury Note 2 Year Futures		12/31/18		221			USD	46,572,297			(172,633	)
U.S. Treasury Note Ultra 10 Year Futures		12/19/18		97			USD	12,222,000			(205,149	)
U.S. Treasury Ultra Long Bond Futures		12/19/18		1,591			USD	245,461,469			(9,160,225	)
Futures Contracts—Short
90 Day Eurodollar Futures		12/17/18		(1,843	)		USD	(448,494,050	)		1,198,020
Euro-Bund Futures		12/06/18		(2,522	)		EUR	(400,468,380	)		3,755,886
U.S. Treasury Long Bond Futures		12/19/18		(656	)		USD	(92,168,000	)		2,604,766
U.S. Treasury Note 5 Year Futures		12/31/18		(1,979	)		USD	(222,591,118	)		1,787,062
Net Unrealized Depreciation										$	(14,858,216	)

Purchased Options

Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts		Notional Amount		Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
USD Put/AUD Call		AUD	0.740		BBP		11/21/18		31,413,000	USD	31,413,000	$	241,312	$	121,820	$	(119,492	)
USD Put/COP Call		COP	2,947.040		CBNA		11/21/18		16,050,000	USD	16,050,000		204,236		257,410		53,174
USD Put/IDR Call		IDR	14,745.000		BOA		11/21/18		15,779,000	USD	15,779,000		145,956		69,175		(76,781	)
Totals												$	591,504	$	448,405	$	(143,099	)

Interest Rate Swaptions

Strike Rate

Counterparty

Floating Rate Index

Pay/ Receive Floating Rate

Expiration Date

Number of Contracts

Notional Amount

Premiums Paid

Market Value

Unrealized Depreciation

Put - OTC - 5 Year Interest Rate Swap

3.150

%

BOA

3M LIBOR

Receive

02/02/23

271,800,000

USD

271,800,000

$

13,943,340

$

12,612,683

$

(1,330,657

)

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Put - U.S. Treasury Note 10 Year Futures		USD	118.000		11/23/18		586		USD	586,000	$	248,274	$	183,125	$	(65,149	)
Call - U.S. Treasury Note 10-Year Futures		USD	120.000		11/23/18		1,920		USD	1,920,000		731,425		390,000		(341,425	)
Put - S&P 500 Index E-Mini Futures		USD	2,600.000		10/19/18		1,943		USD	97,150		863,307		184,585		(678,722	)
Put - S&P 500 Index E-Mini Futures		USD	2,550.000		10/19/18		662		USD	33,100		489,417		51,305		(438,112	)
Put - S&P 500 Index E-Mini Futures		USD	2,650.000		11/16/18		1,110		USD	55,500		554,998		416,250		(138,748	)
Put - S&P 500 Index E-Mini Futures		USD	2,600.000		11/16/18		946		USD	47,300		616,603		283,800		(332,803	)
Put - S&P 500 Index E-Mini Futures		USD	2,700.000		11/16/18		1,355		USD	67,750		666,684		643,625		(23,059	)
Put - U.S. Treasury Note 10-Year Futures		USD	119.000		11/23/18		293		USD	293,000		188,230		210,594		22,364
Totals											$	4,358,938	$	2,363,284	$	(1,995,654	)

Written Options

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Call - U.S. Treasury Note 10 Year Futures		USD	122.500		11/23/18		(239	)		USD	(239,000	)	$	(77,992	)	$	(7,469	)	$	70,523
Call - U.S. Treasury Note 10 Year Futures		USD	122.000		11/23/18		(239	)		USD	(239,000	)		(96,663	)		(11,203	)		85,460
Put - S&P 500 Index E-Mini Futures		USD	2,450.000		10/19/18		(2,061	)		USD	(103,050	)		(684,555	)		(108,202	)		576,353
Put - S&P 500 Index E-Mini Futures		USD	2,400.000		11/16/18		(2,056	)		USD	(102,800	)		(506,537	)		(292,980	)		213,557
Put - S&P 500 Index E-Mini Futures		USD	2,550.000		11/16/18		(1,355	)		USD	(67,750	)		(334,839	)		(328,588	)		6,251
Put - U.S. Treasury Note 10 Year Futures		USD	116.500		11/23/18		(586	)		USD	(586,000	)		(95,086	)		(45,781	)		49,305
Totals													$	(1,795,672	)	$	(794,223	)	$	1,001,449

BHFTII-293

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Swap Agreements

Centrally Cleared Interest Rate Basis Swaps

Floating Rate Index Paid

Payment Frequency

Floating Rate Index Received

Payment Frequency

Maturity Date

Notional Amount

Market Value

Upfront Premium Received

Unrealized Appreciation(1)

3M LIBOR

Quarterly

FEDL01 + 0.310%

Quarterly

12/19/2023

USD    211,794,000

$

58,358

$

—

$

58,358

OTC Interest Rate Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Fixed Rate

Payment Frequency

Maturity Date

Counterparty

Notional Amount

Market Value

Upfront Premium Paid/ (Received)

Unrealized Appreciation(1)

Pay

1 Day CDI

Maturity

14.850%

Maturity

01/04/21

BOA

BRL

190,843,760

$

7,665,169

$

—

$

7,665,169

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency		Maturity Date		Notional Amount		Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Pay	1M TIIE		Maturity	7.330%		Maturity		04/06/22	MXN	3,542,500,000	$	(3,155,021	)	$	(85,736	)	$	(3,069,285	)
Pay	1M TIIE		Monthly	7.351%		Monthly		04/05/21	MXN	5,174,130,000		(3,495,908	)		(40,304	)		(3,455,604	)
Pay	3M LIBOR		Quarterly	2.505%		Semi-Annually		03/07/20	USD	563,080,000		(3,056,100	)		—			(3,056,100	)
Pay	3M LIBOR		Quarterly	3.150%		Semi-Annually		02/06/33	USD	119,590,000		(867,829	)		—			(867,829	)
Receive	3M CDOR		Semi-Annually	2.140%		Semi-Annually		03/05/20	CAD	728,220,000		2,542,346			7,105			2,535,241
Receive	6M EURIBOR		Annually	1.498%		Semi-Annually		08/23/47	EUR	8,754,500		86,457			10,584			75,873
Totals											$	(7,946,055	)	$	(108,351	)	$	(7,837,704	)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency	Maturity Date		Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value			Upfront Premiums (Received)			Unrealized Depreciation
CDX.NA.HY.31		(5.000	%)	Quarterly		12/20/23		3.315	%		USD	56,330,000	$	(4,119,695	)	$	(4,094,105	)	$	(25,590	)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency	Maturity Date		Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)			Market Value		Upfront Premiums Paid		Unrealized Appreciation
CDX.NA.IG.30		1.000	%	Quarterly		06/20/23		0.543	%		USD	17,740,000	$	353,523	$	288,349	$	65,174
CDX.NA.IG.31		1.000	%	Quarterly		12/20/23		1.057	%		USD	62,420,000		1,206,329		1,188,477		17,852
Totals													$	1,559,852	$	1,476,826	$	83,026

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency	Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)		Market Value			Upfront Premium (Received)			Unrealized Depreciation
Weyerhaeuser Co., 7.125%, due 07/15/23		(1.000	%)	Quarterly		12/20/23	JPMC		0.000	%	USD	16,296,000	$	(409,891	)	$	(406,016	)	$	(3,875	)

BHFTII-294

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency	Maturity Date		Counterparty	Implied Credit Spread at September 30, 2018(b)			Notional Amount(c)		Market Value			Upfront Premium (Received)			Unrealized Appreciation/ (Depreciation)
Australia Government International Bond 4.750%, due 04/27/21		(1.000	%)	Quarterly		06/20/23	DBAG		0.151	%	USD	32,280,000	$	(1,216,040	)	$	(1,289,612	)	$	73,572
CMBX.NA.AAA.6		(0.500	%)	Monthly		05/11/63	CSI		0.000	%	USD	1,769,646		(17,907	)		(12,260	)		(5,647	)
CMBX.NA.AAA.6		(0.500	%)	Monthly		05/11/63	CSI		0.000	%	USD	10,224,620		(103,464	)		(66,239	)		(37,225	)
CMBX.NA.AAA.6		(0.500	%)	Monthly		05/11/63	MSC		0.000	%	USD	11,797,638		(119,382	)		(76,293	)		(43,089	)
Totals													$	(1,456,793	)	$	(1,444,404	)	$	(12,389	)

Securities in the amount of $21,210,768 have been received at the custodian bank as collateral for OTC swap contracts.

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

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(BOA)—	Bank of America N.A.
(CBNA)—	Citibank N.A.
(CSI)—	Credit Suisse International
(DBAG)—	Deutsche Bank AG
(JPMC)—	JPMorgan Chase Bank N.A.
(MSC)—	Morgan Stanley & Co.

Currencies

(ARS)—	Argentine Peso
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(MXN)—	Mexican Peso
(NZD)—	New Zealand Dollar
(PHP)—	Philippine Peso
(PLN)—	Polish Zloty
(RUB)—	Russian Ruble
(SEK)—	Swedish Krona
(TRY)—	Turkish Lira
(TWD)—	Taiwanese Dollar
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(CDI)—	Brazil Interbank Deposit Rate
(CDOR)—	Canadian Dollar Offered Rate
(CDX.NA.HY)—	Markit North America High Yield CDS Index
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(CMBX.NA.AAA)—	Markit North America AAA Rated CMBS Index
(CMT)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(COFI)—	11th District Cost of Funds Index
(EURIBOR)—	Euro InterBank Offered Rate
(FEDEFF PRV)—	Effective Federal Funds Rate
(FEDL01)—	Federal Funds Rate
(ICE)—	Intercontinental Exchange, Inc.
(LIBOR)—	London Interbank Offered Rate
(TIIE)—	Mexican Interbank Equilibrium Interest Rate

Other Abbreviations

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

BHFTII-295

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1		Level 2		Level 3		Total
Corporate Bonds & Notes
Aerospace/Defense	$	—	$	22,525,769	$	—	$	22,525,769
Agriculture		—		3,437,028		—		3,437,028
Airlines		—		1,850,497		—		1,850,497
Apparel		—		15,336,774		—		15,336,774
Auto Manufacturers		—		22,773,933		—		22,773,933
Auto Parts & Equipment		—		14,372,786		—		14,372,786
Banks		—		297,866,898		—		297,866,898
Beverages		—		5,542,009		—		5,542,009
Biotechnology		—		7,171,425		—		7,171,425
Building Materials		—		8,699,113		—		8,699,113
Chemicals		—		6,282,549		—		6,282,549
Commercial Services		—		45,688,275		—		45,688,275
Computers		—		13,190,474		—		13,190,474
Diversified Financial Services		—		66,372,585		—		66,372,585
Electric		—		37,928,320		—		37,928,320
Energy-Alternate Sources		—		1,392,486		—		1,392,486
Entertainment		—		24,600,940		—		24,600,940
Environmental Control		—		1,297,612		—		1,297,612
Food		—		9,524,483		—		9,524,483
Forest Products & Paper		—		4,236,750		—		4,236,750
Healthcare-Products		—		27,774,361		—		27,774,361
Healthcare-Services		—		62,163,534		—		62,163,534
Holding Companies-Diversified		—		3,705,699		—		3,705,699
Home Builders		—		16,304,031		—		16,304,031
Housewares		—		3,068,367		—		3,068,367
Insurance		—		25,021,923		—		25,021,923
Internet		—		22,072,064		—		22,072,064
Investment Company Security		—		2,655,188		—		2,655,188
Iron/Steel		—		13,721,211		—		13,721,211
Leisure Time		—		26,911,617		—		26,911,617
Lodging		—		25,118,835		—		25,118,835
Machinery-Construction & Mining		—		16,286,300		—		16,286,300
Machinery-Diversified		—		4,447,875		—		4,447,875
Media		—		137,442,642		—		137,442,642
Mining		—		102,241,636		0		102,241,636
Miscellaneous Manufacturing		—		11,973,021		—		11,973,021
Oil & Gas		—		199,628,347		—		199,628,347
Oil & Gas Services		—		3,731,250		—		3,731,250

BHFTII-296

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Packaging & Containers	$	—	$	21,671,413		$	—	$	21,671,413
Pharmaceuticals		—		121,753,031			—		121,753,031
Pipelines		—		128,488,502			—		128,488,502
Real Estate		—		4,811,700			—		4,811,700
Real Estate Investment Trusts		—		19,241,857			—		19,241,857
Retail		—		30,069,633			—		30,069,633
Savings & Loans		—		9,854,968			—		9,854,968
Semiconductors		—		2,288,506			—		2,288,506
Software		—		20,110,723			—		20,110,723
Telecommunications		—		110,628,469			—		110,628,469
Transportation		—		38,411,074			—		38,411,074
Trucking & Leasing		—		18,810,875			—		18,810,875
Water		—		3,543,815			—		3,543,815
Total Corporate Bonds & Notes		—		1,844,043,173			—		1,844,043,173
Total Mortgage-Backed Securities*		—		296,837,082			—		296,837,082
Total Floating Rate Loans*		—		273,917,843			—		273,917,843
Total Foreign Government*		—		258,613,086			—		258,613,086
Asset-Backed Securities
Asset-Backed - Automobile		—		3,411,336			—		3,411,336
Asset-Backed - Credit Card		—		5,082,222			—		5,082,222
Asset-Backed - Home Equity		—		8,224,559			—		8,224,559
Asset-Backed - Manufactured Housing		—		5,864,752			—		5,864,752
Asset-Backed - Other		—		143,606,408			—		143,606,408
Asset-Backed - Student Loan		—		1,322,186			—		1,322,186
Total Asset-Backed Securities		—		167,511,463			—		167,511,463
Total U.S. Treasury & Government Agencies*		—		132,661,791			—		132,661,791
Total Convertible Bonds*		—		26,982,576			—		26,982,576
Total Convertible Preferred Stock*		6,409,219		—			—		6,409,219
Common Stocks
Air Freight & Logistics		—		240,608			—		240,608
Diversified Consumer Services		—		27,991			—		27,991
Marine		—		—			86,025		86,025
Media		—		600,575			—		600,575
Oil, Gas & Consumable Fuels		—		2,925,889			—		2,925,889
Total Common Stocks		—		3,795,063			86,025		3,881,088
Total Municipals		—		3,550,601			—		3,550,601
Preferred Stocks
Banks		1,373,646		—			—		1,373,646
Capital Markets		1,605,078		—			—		1,605,078
Marine		—		—			112,813		112,813
Total Preferred Stocks		2,978,724		—			112,813		3,091,537
Total Escrow Shares*		—		—			2,992		2,992
Total Short-Term Investments*		—		170,489,110			—		170,489,110
Purchased Options
Foreign Currency Written Options at Value		—		448,405			—		448,405
Interest Rate Swaptions at Value		—		12,612,683			—		12,612,683
Options on Exchange-Traded Futures Contracts at Value		2,363,284		—			—		2,363,284
Total Purchased Options	$	2,363,284	$	13,061,088		$	—	$	15,424,372
Total Securities Lending Reinvestments*		—		270,775,302			—		270,775,302
Total Investments	$	11,751,227	$	3,462,238,178		$	201,830	$	3,474,191,235
Collateral for Securities Loaned (Liability)	$	—	$	(270,655,171	)	$	—	$	(270,655,171	)

BHFTII-297

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	4,901,461		$	—	$	4,901,461
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(9,467,535	)		—		(9,467,535	)
Total Forward Contracts	$	—		$	(4,566,074	)	$	—	$	(4,566,074	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	9,593,867		$	—		$	—	$	9,593,867
Futures Contracts (Unrealized Depreciation)		(24,452,083	)		—			—		(24,452,083	)
Total Futures Contracts	$	(14,858,216	)	$	—		$	—	$	(14,858,216	)
Written Options at Value	$	(794,223	)	$	—		$	—	$	(794,223	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	2,752,498		$	—	$	2,752,498
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(10,474,408	)		—		(10,474,408	)
Total Centrally Cleared Swap Contracts	$	—		$	(7,721,910	)	$	—	$	(7,721,910	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	7,665,169		$	—	$	7,665,169
OTC Swap Contracts at Value (Liabilities)		—			(1,866,684	)		—		(1,866,684	)
Total OTC Swap Contracts	$	—		$	5,798,485		$	—	$	5,798,485

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2018 is not presented.

Transfers from Level 3 to Level 2 in the amount of $21,621,877 were due to the initiation of a vendor or broker providing prices based on market indications which have been determined to be significant observable inputs.

BHFTII-298

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

U.S. Treasury & Government Agencies—89.9% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—35.1%
Fannie Mae 15 Yr. Pool 3.000%, TBA (a)		100,000	$	98,771
3.500%, TBA (a)		15,000,000		15,077,085
4.500%, 03/01/20		18,476		18,704
Fannie Mae 20 Yr. Pool 3.000%, 12/01/37		1,604,562		1,557,370
4.500%, 11/01/31		627,679		650,070
4.500%, 12/01/31		898,178		929,949
Fannie Mae 30 Yr. Pool 3.000%, 09/01/42		8,006,991		7,737,326
3.000%, 11/01/46		11,413,403		10,933,237
3.000%, TBA (a)		23,650,000		22,631,298
3.500%, 10/01/47		18,588,424		18,307,157
3.500%, 12/01/47		1,823,394		1,798,816
3.500%, 01/01/48		351,965		346,570
3.500%, 03/01/48		15,064,793		14,835,439
3.500%, TBA (a)		93,948,000		92,451,690
4.000%, 02/01/40		599,609		610,079
4.000%, 06/01/42		6,006,436		6,135,674
4.000%, 07/01/42		2,500,750		2,545,777
4.000%, 05/01/43		14,399,703		14,691,987
4.000%, 10/01/43		7,762,195		7,919,597
4.000%, 04/01/47		8,174,716		8,285,138
4.000%, 05/01/47		3,593,679		3,642,221
4.000%, 08/01/47		39,477,390		39,885,035
4.000%, 05/01/48		14,070,834		14,271,805
4.000%, TBA (a)		550,000		555,357
4.500%, 04/01/41		8,104,956		8,434,921
4.500%, 10/01/41		5,071,400		5,275,509
4.500%, 07/01/44		214,216		223,347
4.500%, 10/01/44		1,312,019		1,367,558
4.500%, 01/01/45		120,274		126,059
4.500%, 01/01/47		817,266		844,012
4.500%, 06/01/47		262,609		271,138
4.500%, 07/01/47		1,458,170		1,513,697
4.500%, 08/01/47		1,741,847		1,808,177
5.000%, 07/01/33		199,768		212,084
5.000%, 09/01/33		242,165		257,101
5.000%, 10/01/35		683,652		725,888
5.000%, 03/01/36		1,084,713		1,152,125
5.000%, 01/01/39		8,196		8,672
5.000%, 12/01/39		16,306		17,350
5.000%, 05/01/40		50,610		53,586
5.000%, 07/01/40		33,747		35,898
5.000%, 11/01/40		815,218		867,403
5.000%, 01/01/41		60,590		64,420
5.000%, 02/01/41		47,190		49,557
5.000%, 04/01/41		88,492		93,377
5.000%, 05/01/41		1,909,247		2,031,475
5.000%, 06/01/41		169,348		180,203
5.000%, 07/01/41		1,658,480		1,754,948
5.000%, TBA (a)		6,500,000		6,823,476
6.000%, 04/01/33		65,424		71,964
6.000%, 02/01/34		13,199		14,539
6.000%, 11/01/35		131,474		144,810
6.000%, 08/01/37		291,296		320,868

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool 6.500%, 03/01/26		588	$	644
6.500%, 04/01/29		57,703		63,262
7.000%, 11/01/28		1,707		1,766
7.000%, 02/01/29		578		579
7.000%, 01/01/30		2,010		2,040
7.000%, 10/01/37		6,746		7,199
7.000%, 11/01/37		20,216		21,765
7.000%, 12/01/37		20,090		22,644
7.000%, 02/01/38		10,400		10,995
7.000%, 11/01/38		100,944		113,450
7.000%, 02/01/39		904,938		1,018,727
7.500%, 04/01/32		12,525		12,693
8.000%, 05/01/28		1,487		1,608
8.000%, 07/01/32		827		876
Fannie Mae Connecticut Avenue Securities (CMO) 2.896%, 1M LIBOR + 0.68%, 10/25/30 (144A) (b)		5,135,609		5,144,475
3.666%, 1M LIBOR + 1.450%, 01/25/29 (144A) (b)		205,161		206,567
Fannie Mae Interest Strip (CMO) 3.500%, 11/25/41 (c)		2,256,360		443,448
4.000%, 04/25/42 (c)		3,065,349		611,476
4.500%, 11/25/39 (c)		1,588,091		361,570
Fannie Mae Pool 3.500%, 08/01/42		9,673,886		9,546,966
3.500%, 09/01/42		661,487		652,816
3.500%, 10/01/42		4,678,980		4,617,644
4.000%, 10/01/42		2,821,162		2,859,849
4.000%, 11/01/42		1,870,803		1,896,831
4.000%, 07/01/43		60,572		61,416
4.000%, 08/01/43		1,349,749		1,368,484
6.500%, 12/01/27		3,816		3,826
6.500%, 05/01/32		13,368		14,498
Fannie Mae REMIC Trust Whole Loan (CMO) 4.297%, 01/25/43 (b)		270,519		284,231
Fannie Mae REMICS (CMO) Zero Coupon, 03/25/42 (d)		432,143		378,282
3.934%, -1x 1M LIBOR + 6.150%, 03/25/42 (b) (c)		7,029,525		750,188
3.934%, -1x 1M LIBOR + 6.150%, 12/25/42 (b) (c)		789,048		123,888
4.314%, -1x 1M LIBOR + 6.530%, 01/25/41 (144A) (b) (c)		1,111,977		150,945
4.334%, -1x 1M LIBOR + 6.550%, 10/25/41 (144A) (b) (c)		4,327,098		597,672
4.434%, -1x 1M LIBOR + 6.650%, 02/25/41 (b) (c)		544,309		60,631
4.434%, -1x 1M LIBOR + 6.650%, 03/25/42 (b) (c)		1,699,762		192,365
5.500%, 07/25/41		7,516,577		8,095,334
5.500%, 04/25/42		1,780,080		1,914,105
6.000%, 05/25/42		1,081,304		1,173,806
6.500%, 06/25/39		156,425		166,118
6.500%, 07/25/42		2,003,294		2,236,365
9.750%, 11/25/18		1,514		1,513
9.750%, 08/25/19		694		700
Fannie Mae-ACES (CMO) 2.037%, 09/25/26		2,361,086		2,245,058
Freddie Mac 15 Yr. Gold Pool 2.500%, TBA (a)		15,000,000		14,464,967

BHFTII-299

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 20 Yr. Gold Pool 3.000%, 02/01/38		1,923,406	$	1,856,744
3.000%, 04/01/38		1,643,952		1,588,287
Freddie Mac 30 Yr. Gold Pool 3.000%, 04/01/47		1,389,320		1,330,642
3.000%, TBA (a)		5,700,000		5,452,740
3.500%, 08/01/48		221,255		217,846
3.500%, 09/01/48		678,744		668,282
3.500%, 10/01/48		17,000,000		16,737,784
4.000%, 07/01/43		4,001,640		4,076,726
4.000%, 08/01/43		3,749,941		3,820,307
4.000%, 07/01/47		7,610,343		7,697,812
4.000%, 12/01/47		842,330		852,233
4.000%, 04/01/48		485,721		490,763
4.000%, 05/01/48		2,539,692		2,566,052
4.000%, TBA (a)		10,900,000		11,005,929
4.500%, 06/01/38		1,415,969		1,468,353
4.500%, 02/01/47		798,417		824,672
4.500%, 03/01/47		61,344		63,361
4.500%, 04/01/47		1,241,907		1,282,746
4.500%, 05/01/47		710,323		733,681
4.500%, 06/01/47		2,235,217		2,308,719
4.500%, 07/01/47		61,231		63,243
4.500%, 06/01/48		17,716,273		18,298,155
5.000%, 08/01/33		18,126		19,234
5.000%, 06/01/41		4,011,539		4,272,476
5.000%, 08/01/48		299,999		316,629
5.000%, 10/01/48		800,000		840,625
5.000%, TBA (a)		4,200,000		4,410,000
6.000%, 10/01/36		737,771		816,720
6.500%, 09/01/39		258,007		288,224
8.000%, 09/01/30		3,290		3,716
Freddie Mac 30 Yr. Non-Gold Pool 8.000%, 07/01/20		2		2
Freddie Mac Gold Pool 3.500%, 10/01/42		1,004,433		993,936
3.500%, 02/01/44		456,399		451,629
4.000%, 04/01/43		1,486,925		1,515,265
4.000%, 08/01/43		874,338		891,170
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 3.291%, 03/25/27		4,670,000		4,552,297
Freddie Mac REMICS (CMO) 4.500%, 04/15/32		290,362		300,771
6.000%, 05/15/36		485,212		529,655
8.500%, 06/15/21		4,074		4,192
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 3.416%, 1M LIBOR + 1.200%, 07/25/29 (b)		5,476,659		5,524,459
4.416%, 1M LIBOR + 2.200%, 09/25/24 (b)		5,893,262		6,070,362
Ginnie Mae I 30 Yr. Pool 5.500%, 06/15/36		413,842		449,592
6.000%, 03/15/33		718,369		788,666
6.500%, 06/15/31		2,803		3,075
6.500%, 08/15/34		182,741		200,495
7.500%, 09/15/29		1,859		2,000
8.500%, 06/15/25		17,826		19,539

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool 3.000%, 09/20/47		7,982,704	$	7,738,286
3.000%, 11/20/47		19,331,045		18,737,173
3.000%, TBA (a)		30,700,000		29,732,830
3.500%, TBA (a)		15,500,000		15,412,510
4.000%, 09/20/45		1,268,851		1,298,075
4.000%, 11/20/45		9,028,390		9,231,049
4.000%, TBA (a)		2,900,000		2,948,994
4.500%, 01/20/40		623,260		653,399
4.500%, 05/20/40		820,946		860,650
4.500%, 09/20/40		17,203		18,035
4.500%, 01/20/41		135,464		142,022
4.500%, 07/20/41		912,757		956,741
4.500%, 09/20/48		500,000		517,346
4.500%, TBA (a)		13,200,000		13,643,438
5.000%, 07/20/40		625,326		669,366
5.000%, 03/20/48		11,581,677		12,107,563
5.000%, 04/20/48		296,933		310,415
5.000%, 05/20/48		2,237,419		2,340,816
5.000%, 06/20/48		495,551		518,949
5.000%, 07/20/48		99,194		103,861
5.000%, 09/20/48		7,700,000		8,051,606
5.000%, TBA (a)		19,300,000		20,151,591
6.000%, 11/20/34		1,361		1,487
6.000%, 06/20/35		2,141		2,338
6.000%, 07/20/36		122,422		133,827
6.000%, 09/20/36		5,984		6,531
6.000%, 07/20/38		308,517		339,142
6.000%, 09/20/38		808,414		878,333
6.000%, 06/20/39		3,865		4,183
6.000%, 05/20/40		70,672		75,850
6.000%, 06/20/40		210,530		230,004
6.000%, 08/20/40		115,862		125,062
6.000%, 09/20/40		249,855		267,611
6.000%, 10/20/40		165,005		180,166
6.000%, 11/20/40		229,348		246,147
6.000%, 01/20/41		176,227		192,485
6.000%, 03/20/41		851,788		914,185
6.000%, 07/20/41		170,367		182,707
6.000%, 12/20/41		118,292		128,246
6.500%, 10/20/37		265,037		302,218
Government National Mortgage Association (CMO) 0.278%, 02/16/53 (b) (c)		13,013,180		262,292
0.301%, 02/16/48 (b) (c)		5,105,381		121,555
0.349%, 09/16/46 (b) (c)		26,510,581		299,670
0.423%, 05/16/54 (b) (c)		16,790,062		370,333
0.458%, 03/16/49 (b) (c)		8,389,677		125,470
0.523%, 10/16/54 (b) (c)		31,728,369		894,207
0.691%, 03/16/60 (b) (c)		7,355,768		439,435
0.742%, 05/16/54 (b) (c)		16,795,670		652,293
0.768%, 12/16/59 (b) (c)		73,518,490		5,115,299
0.844%, 09/16/55 (b) (c)		18,529,135		985,183
0.954%, 12/16/56 (b) (c)		43,810,445		3,295,842
1.068%, 09/16/44 (b) (c)		14,840,879		725,333
1.147%, 02/16/46 (b) (c)		22,362,322		1,092,612
2.460%, 1M LIBOR + 0.380%, 12/20/60 (b)		15,772,024		15,768,657

BHFTII-300

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Government National Mortgage Association (CMO) 2.480%, 1M LIBOR + 0.400%, 12/20/60 (b)		4,791,747	$	4,792,768
2.560%, 1M LIBOR + 0.480%, 03/20/61 (b)		4,258,884		4,267,663
2.580%, 1M LIBOR + 0.500%, 12/20/60 (b)		38,843,764		38,956,201
3.942%, -1x 1M LIBOR + 6.100%, 08/16/42 (b) (c)		1,008,305		147,006
4.335%, -1x 1M LIBOR + 6.500%, 03/20/39 (b) (c)		164,125		6,058
4.485%, -1x 1M LIBOR + 6.650%, 01/20/40 (b) (c)		639,791		57,533
				727,965,049
Federal Agencies—37.4%
Federal Agricultural Mortgage Corp. 2.600%, 03/29/21		20,000,000		19,891,500
Federal Farm Credit Bank 1.250%, 01/17/19		25,000,000		24,916,825
1.750%, 10/26/20		15,000,000		14,670,015
1.900%, 11/27/20		20,000,000		19,600,960
1.950%, 01/10/20		10,000,000		9,904,880
2.240%, 01/06/25		12,305,000		11,508,091
2.240%, 07/06/27		10,000,000		9,062,500
2.300%, 06/11/19		10,000,000		9,985,730
2.550%, 06/11/20		10,000,000		9,956,460
2.750%, 04/25/22		20,000,000		19,854,040
Federal Home Loan Bank 1.375%, 09/28/20 (e)		10,000,000		9,718,070
1.875%, 11/29/21		49,000,000		47,461,890
2.125%, 06/09/23		17,700,000		17,018,461
2.375%, 12/13/19		20,000,000		19,919,760
2.375%, 03/30/20		8,000,000		7,950,632
2.625%, 05/28/20		20,000,000		19,942,900
5.250%, 12/11/20		12,000,000		12,600,444
Federal Home Loan Mortgage Corp. Zero Coupon, 11/29/19		10,200,000		9,869,450
0.875%, 10/12/18		20,000,000		19,992,120
1.125%, 04/15/19		30,000,000		29,787,900
1.500%, 01/17/20		10,000,000		9,843,050
2.750%, 06/19/23		20,000,000		19,749,700
5.000%, 12/14/18		12,741,000		12,811,725
Federal National Mortgage Association Zero Coupon, 10/09/19		50,000,000		48,623,866
2.125%, 04/24/26		10,000,000		9,312,640
2.625%, 09/06/24		22,000,000		21,438,076
Financing Corp. Fico Zero Coupon, 12/27/18		16,254,000		16,160,081
Zero Coupon, 04/05/19		1,245,000		1,229,210
Zero Coupon, 06/06/19		26,414,000		25,967,124
Zero Coupon, 09/26/19		14,535,000		14,180,046
National Archives Facility Trust 8.500%, 09/01/19		878,880		910,335
New Valley Generation II 5.572%, 05/01/20		3,097,560		3,185,935
Overseas Private Investment Corp. Zero Coupon, 07/30/19		20,000,000		21,580,830
Zero Coupon, 11/13/20		3,306,787		3,565,527
Zero Coupon, 07/01/22		6,750,000		6,652,922
Zero Coupon, 07/17/25		7,763,000		7,664,305

Security Description	Principal Amount*		Value
Federal Agencies—(Continued)
Overseas Private Investment Corp. 2.310%, 11/15/30		7,752,048	$	7,291,081
3.330%, 05/15/33		6,532,379		6,415,082
3.490%, 12/20/29		11,007,455		11,098,033
3.540%, 06/15/30		13,823,667		13,987,102
Residual Funding Corp. Principal Strip Zero Coupon, 10/15/19		10,642,000		10,344,581
Zero Coupon, 07/15/20		10,000,000		9,504,889
Zero Coupon, 10/15/20		38,159,000		35,953,531
Zero Coupon, 01/15/21		20,000,000		18,721,379
Zero Coupon, 01/15/30		25,000,000		16,904,277
Zero Coupon, 04/15/30		8,000,000		5,351,226
Tennessee Valley Authority 1.750%, 10/15/18		20,000,000		19,996,160
2.250%, 03/15/20		20,000,000		19,851,700
3.875%, 02/15/21		35,000,000		35,761,040
				777,668,081
U.S. Treasury—17.4%
U.S. Treasury Inflation Indexed Bonds 0.625%, 02/15/43 (f)		3,726,740		3,386,287
1.375%, 02/15/44 (f)		17,408,769		18,649,597
U.S. Treasury Notes 1.375%, 05/31/21		49,000,000		47,131,875
1.500%, 05/31/20		12,000,000		11,749,219
1.875%, 01/31/22		59,000,000		57,077,891
2.000%, 06/30/24		102,000,000		96,756,562
2.000%, 02/15/25		122,000,000		114,908,750
2.750%, 08/31/25 (e)		12,000,000		11,803,594
				361,463,775
Total U.S. Treasury & Government Agencies (Cost $1,909,612,381)				1,867,096,905
Foreign Government—9.2%
Sovereign—9.2%
Colombia Government International Bonds 5.000%, 06/15/45 (e)		37,000,000		36,907,500
5.625%, 02/26/44		4,840,000		5,203,000
Indonesia Government International Bonds 3.750%, 04/25/22 (144A)		410,000		406,654
3.750%, 04/25/22		1,900,000		1,884,496
4.875%, 05/05/21		2,957,000		3,045,210
5.875%, 03/13/20		310,000		321,252
5.875%, 01/15/24 (144A)		1,060,000		1,136,511
Israel Government AID Bonds Zero Coupon, 11/15/18		20,869,000		20,811,899
5.500%, 12/04/23		24,290,000		26,993,728
5.500%, 04/26/24		20,950,000		23,418,808
Panama Government International Bond 4.500%, 05/15/47		3,200,000		3,204,832
Peruvian Government International Bonds 5.625%, 11/18/50 (e)		350,000		415,450
6.550%, 03/14/37		4,210,000		5,315,125

BHFTII-301

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Poland Government International Bond 4.000%, 01/22/24		7,870,000	$	8,024,063
Qatar Government International Bond 5.103%, 04/23/48 (144A)		7,300,000		7,592,000
Ukraine Government AID Bonds 1.471%, 09/29/21		20,000,000		19,139,920
1.844%, 05/16/19		25,000,000		24,857,750
Uruguay Government International Bond 5.100%, 06/18/50		3,200,000		3,264,000
Total Foreign Government (Cost $195,142,275)				191,942,198
Corporate Bonds & Notes—8.3%
Chemicals—0.1%
Equate Petrochemical B.V. 4.250%, 11/03/26 (144A)		1,540,000		1,513,050
Diversified Financial Services—3.3%
COP I LLC 3.650%, 12/05/21		4,564,399		4,606,146
Postal Square L.P. 6.500%, 06/15/22		4,959,540		5,153,204
Private Export Funding Corp. 2.250%, 03/15/20		11,950,000		11,850,110
2.300%, 09/15/20		28,000,000		27,629,084
2.650%, 02/16/21 (144A)		20,000,000		19,843,640
				69,082,184
Electric—0.4%
Enel Chile S.A. 4.875%, 06/12/28		4,000,000		4,035,600
Perusahaan Listrik Negara PT 5.450%, 05/21/28 (144A)		4,000,000		4,106,900
				8,142,500
Iron/Steel—0.9%
Vale Overseas, Ltd. 6.250%, 08/10/26		17,875,000		19,589,212
Oil & Gas—0.4%
Ecopetrol S.A. 5.375%, 06/26/26		4,260,000		4,387,800
Petroleos Mexicanos 6.375%, 01/23/45		3,610,000		3,332,030
				7,719,830
Sovereign—3.2%
National Credit Union Administration Guaranteed Notes Trust 3.000%, 06/12/19		19,650,000		19,706,985
3.450%, 06/12/21		45,000,000		45,569,700
				65,276,685
Total Corporate Bonds & Notes (Cost $165,654,426)				171,323,461

Mortgage-Backed Securities—2.4%
Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—2.4%
Banc of America Funding Corp. 2.215%, 1M LIBOR + 0.150%, 02/27/37 (144A) (b)		7,302,555	$	7,082,409
Banc of America Funding Trust 2.448%, COFI + 1.430%, 06/20/35 (b)		204,778		149,540
Banc of America Mortgage Trust 4.289%, 07/25/35 (b)		43,517		40,555
BCAP LLC Trust 2.215%, 1M LIBOR + 0.150%, 11/27/36 (144A) (b)		11,190,572		10,461,574
Citigroup Mortgage Loan Trust 4.820%, 1Y CMT + 2.400%, 10/25/35 (b)		87,450		88,598
Countrywide Alternative Loan Trust 2.365%, 1M LIBOR + 0.200%, 07/20/46 (b)		1,956,075		1,520,321
2.796%, 1M LIBOR + 0.580%, 05/25/34 (b)		729,341		728,472
Countrywide Home Loan Reperforming Loan REMIC Trust 2.636%, 1M LIBOR + 0.420%, 07/25/36 (144A) (b)		486,803		467,062
GMAC Mortgage Corp. Loan Trust 4.289%, 11/19/35 (b)		268,364		260,040
HarborView Mortgage Loan Trust 2.368%, 1M LIBOR + 0.200%, 09/19/46 (b)		244,263		221,749
JPMorgan Mortgage Trust 3.500%, 10/25/48 (144A) (b)		4,077,726		3,988,783
4.021%, 06/25/34 (b)		110,995		111,621
MASTR Adjustable Rate Mortgages Trust 2.416%, 1M LIBOR + 0.200%, 05/25/47 (b)		4,257,463		3,578,471
3.352%, 02/25/34 (b)		146,383		139,616
MASTR Reperforming Loan Trust 2.566%, 1M LIBOR + 0.350%, 05/25/35 (144A) (b)		255,503		207,475
3.868%, 05/25/35 (144A) (b)		3,372,031		2,744,367
7.000%, 08/25/34 (144A)		313,958		315,495
Morgan Stanley Mortgage Loan Trust 2.356%, 1M LIBOR + 0.140%, 06/25/36 (b)		555,751		226,228
3.584%, 07/25/35 (b)		160,955		143,392
New Residential Mortgage Loan Trust 3.250%, 09/25/56 (144A) (b)		3,552,472		3,492,066
4.000%, 02/25/57 (144A) (b)		3,044,896		3,053,821
4.000%, 05/25/57 (144A) (b)		5,353,929		5,379,764
NovaStar Mortgage Funding Trust 2.406%, 1M LIBOR + 0.190%, 09/25/46 (b)		1,450,434		1,335,739
Provident Funding Mortgage Loan Trust 3.642%, 05/25/35 (b)		175,269		175,580
4.214%, 10/25/35 (b)		41,324		40,857
SACO I Trust 8.995%, 06/25/21 (144A) (b)		510,605		505,758
Structured Asset Mortgage Investments Trust 2.396%, 1M LIBOR + 0.180%, 07/25/46 (b)		174,128		162,174
Structured Asset Securities Corp. 2.566%, 1M LIBOR + 0.350%, 04/25/35 (144A) (b)		2,070,843		1,943,836
3.968%, 06/25/35 (144A) (b)		117,391		109,831
WaMu Mortgage Pass-Through Certificates Trust 2.476%, 1M LIBOR + 0.260%, 11/25/45 (b)		20,572		20,698
2.506%, 1M LIBOR + 0.290%, 12/25/45 (b)		97,068		96,867
2.536%, 1M LIBOR + 0.320%, 08/25/45 (b)		118,413		119,611
Total Mortgage-Backed Securities (Cost $49,525,572)				48,912,370

BHFTII-302

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Asset-Backed Securities—1.7%

Security Description	Principal Amount*		Value
Asset-Backed-Automobile—0.2%
Hertz Vehicle Financing II LP 3.290%, 02/25/24 (144A)		4,880,000	$	4,746,596
Asset-Backed-Home Equity—0.3%
EMC Mortgage Loan Trust 2.666%, 1M LIBOR + 0.450%, 12/25/42 (144A) (b)		3,600		3,597
Home Equity Mortgage Loan Asset-Backed Trust 2.476%, 1M LIBOR + 0.260%, 06/25/36 (b)		3,728,457		497,588
Morgan Stanley Mortgage Loan Trust 2.306%, 1M LIBOR + 0.090%, 12/25/36 (b)		196,278		124,468
2.516%, 1M LIBOR + 0.300%, 03/25/36 (b)		1,605,669		658,204
New Residential Mortgage Trust 4.000%, 12/25/57 (144A) (b)		4,650,725		4,671,588
Structured Asset Securities Corp. Mortgage Loan Trust 2.436%, 1M LIBOR + 0.220%, 02/25/36 (144A) (b)		4,674,453		247,812
				6,203,257
Asset-Backed-Other—0.7%
Ascentium Equipment Receivables Trust 2.290%, 06/10/21 (144A)		4,000,000		3,957,378
Countrywide Revolving Home Equity Loan Trust 2.298%, 1M LIBOR + 0.140%, 07/15/36 (b)		535,867		508,197
Towd Point Mortgage Trust 2.250%, 04/25/56 (144A) (b)		6,587,325		6,427,593
2.750%, 06/25/57 (144A) (b)		4,368,067		4,245,709
				15,138,877
Asset-Backed-Student Loan—0.5%
National Credit Union Administration Guaranteed Notes Trust 2.483%, 1M LIBOR + 0.350%, 12/07/20 (b)		3,231,258		3,235,071
Nelnet Student Loan Trust 3.961%, 3M LIBOR + 1.650%, 11/25/24 (b)		4,216,988		4,275,455
SLM Student Loan Trust 2.375%, 3M LIBOR + 0.040%, 01/25/19 (b)		1,788,369		1,787,580
				9,298,106
Total Asset-Backed Securities (Cost $41,600,760)				35,386,836
Short-Term Investments—0.6%
Repurchase Agreements—0.6%
Deutsche Bank Securities, Inc. Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $10,001,867; collateralized by a U.S. Treasury Inflation Index Note at 0.125%, maturing 04/15/19, with a market value of $10,206,775		10,000,000		10,000,000
Fixed Income Clearing Corp. Repurchase Agreement dated 09/28/18 at 1.000%, due on 10/01/18 with a maturity value of $2,840,869; collateralized by U.S. Treasury Note at 2.375%, maturing 08/15/24, with a market value of $2,899,212		2,840,632		2,840,632
Total Short-Term Investments (Cost $12,840,632)				12,840,632

Securities Lending Reinvestments (g)—1.2%
Security Description	Principal Amount*		Value
Repurchase Agreements—0.7%
Citigroup Global Markets, Ltd. Repurchase Agreement dated 09/28/18 at 2.200%, due on 10/01/18 with a maturity value of $416,761; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.500%, maturity dates ranging from 10/25/18 - 02/15/43, and an aggregate market value of $425,019		416,685	$	416,685
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $800,149; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 2.875%, maturity dates ranging from 01/15/19 - 02/15/43, and an aggregate market value of $816,000		800,000		800,000
Repurchase Agreement dated 09/28/18 at 2.240%, due on 10/01/18 with a maturity value of $500,093; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 1.750% - 2.875%, maturity dates ranging from 10/15/20 - 05/15/27, and an aggregate market value of $510,000		500,000		500,000
Deutsche Bank AG, London Repurchase Agreement dated 08/24/18 at 2.560%, due on 10/01/18 with a maturity value of $401,081; collateralized by various Common Stock with an aggregate market value of $445,329		400,000		400,000
Repurchase Agreement dated 01/09/18 at 2.560%, due on 10/01/18 with a maturity value of $1,018,844; collateralized by various Common Stock with an aggregate market value of $1,113,323		1,000,000		1,000,000
ING Bank NV, London Repurchase Agreement dated 08/03/18 at 2.420%, due on 10/01/18 with a maturity value of $401,586; collateralized by various Common Stock with an aggregate market value of $444,498		400,000		400,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 09/25/18 at 2.470%, due on 10/02/18 with a maturity value of $1,000,480; collateralized by various Common Stock with an aggregate market value of $1,100,214		1,000,000		1,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 2.340%, due on 10/01/18 with a maturity value of $815,860; collateralized by various Common Stock with an aggregate market value of $890,124		800,000		800,000
Repurchase Agreement dated 03/16/18 at 2.340%, due on 10/01/18 with a maturity value of $3,038,805; collateralized by various Common Stock with an aggregate market value of $3,337,965		3,000,000		3,000,000
Societe Generale Repurchase Agreement dated 03/28/18 at 2.310%, due on 10/01/18 with a maturity value of $809,599; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $888,519		800,000		800,000

BHFTII-303

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Securities Lending Reinvestments (g)—Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 2.310%, due on 10/01/18 with a maturity value of $607,970; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $666,389		600,000	$	600,000
Repurchase Agreement dated 03/21/18 at 2.310%, due on 10/01/18 with a maturity value of $3,037,345; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $3,331,945		3,000,000		3,000,000
Repurchase Agreement dated 03/16/18 at 2.310%, due on 10/01/18 with a maturity value of $1,012,769; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 4.250%, maturity dates ranging from 02/07/19 - 02/15/47, and various Common Stock with an aggregate market value of $1,110,648		1,000,000		1,000,000
				13,716,685
Time Deposits—0.5%
Australia New Zealand Bank 2.170%, 10/01/18		1,000,000		1,000,000
Bank of Montreal (London) 2.200%, 10/02/18		1,000,000		1,000,000
Bred Banque Populaire 2.250%, 10/01/18		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.130%, 10/01/18		1,000,000		1,000,000
Cooperative Rabobank UA 2.140%, 10/01/18		400,000		400,000
Cooperative Rabobank UA New York 2.150%, 10/01/18		500,000		500,000
Landesbank Baden-Wuettertemberg 2.180%, 10/01/18		1,000,000		1,000,000
Landesbank Hessen-Thueringen 2.170%, 10/01/18		1,000,000		1,000,000
Mizuho Bank, Ltd., London 2.160%, 10/01/18		1,000,000		1,000,000
National Australia Bank, Ltd. 2.180%, 10/01/18		1,000,000		1,000,000

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
National Bank of Canada 2.150%, 10/01/18		1,000,000	$	1,000,000
Skandinaviska Enskilda Banken 2.150%, 10/01/18		1,000,000		1,000,000
Svenska Handelsbanken AB 2.140%, 10/01/18		500,000		500,000
				11,400,000
Total Securities Lending Reinvestments (Cost $25,116,685)				25,116,685
Total Investments—113.3% (Cost $2,399,492,731)				2,352,619,087
Other assets and liabilities (net)—(13.3)%				(276,880,667	)
Net Assets—100.0%			$	2,075,738,420

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at September 30, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Interest only security.
(d)	Principal only security.
(e)	All or a portion of the security was held on loan. As of September 30, 2018, the market value of securities loaned was $24,366,504 and the collateral received consisted of cash in the amount of $25,116,685. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(f)	Principal amount of security is adjusted for inflation.
(g)	Represents investment of cash collateral received from securities on loan as of September 30, 2018.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2018, the market value of 144A securities was $104,750,928, which is 5.0% of net assets.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		12/14/20		667			USD	161,472,363		$	(869,688	)
U.S. Treasury Note 10 Year Futures		12/19/18		85			USD	10,096,406			(59,393	)
U.S. Treasury Note 5 Year Futures		12/31/18		476			USD	53,538,844			(205,638	)
Futures Contracts—Short
U.S. Treasury Long Bond Futures		12/19/18		(1,080	)		USD	(151,740,000	)		4,176,080
Net Unrealized Appreciation										$	3,041,361

BHFTII-304

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of September 30, 2018 (Unaudited)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(CMT)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(COFI)—	11th District Cost of Funds Index
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of September 30, 2018:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	1,867,096,905		$	—	$	1,867,096,905
Total Foreign Government*		—			191,942,198			—		191,942,198
Total Corporate Bonds & Notes*		—			171,323,461			—		171,323,461
Total Mortgage-Backed Securities*		—			48,912,370			—		48,912,370
Total Asset-Backed Securities*		—			35,386,836			—		35,386,836
Total Short-Term Investments*		—			12,840,632			—		12,840,632
Total Securities Lending Reinvestments*		—			25,116,685			—		25,116,685
Total Investments	$	—		$	2,352,619,087		$	—	$	2,352,619,087
Collateral for Securities Loaned (Liability)	$	—		$	(25,116,685	)	$	—	$	(25,116,685	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	4,176,080		$	—		$	—	$	4,176,080
Futures Contracts (Unrealized Depreciation)		(1,134,719	)		—			—		(1,134,719	)
Total Futures Contracts	$	3,041,361		$	—		$	—	$	3,041,361

* See Schedule of Investments for additional detailed categorizations.

BHFTII-305

Brighthouse Funds Trust II

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements:

Debt securities, including corporate, convertible and municipal bonds and notes; obligations of the U.S. Treasury and U.S. government agencies; foreign sovereign issues; and non-U.S. bonds, are generally valued on the basis of evaluated or composite bid quotations obtained from independent pricing services and/or brokers and dealers selected by Brighthouse Investment Advisers, LLC (the “Adviser”) (each as “pricing services”), pursuant to authorization of and subject to general oversight by the Board of Trustees (the “Board” or “Trustees”) of the Brighthouse Funds Trust II (the “Trust”). Such pricing services may use matrix pricing, which considers observable inputs including, among other things, issuer details, maturity dates, interest rates, yield curves, rates of prepayment, credit risks/spreads, default rates, reported trades, broker dealer quotes and quoted prices for similar assets. Short-term obligations with a remaining maturity of sixty days or less may be valued at amortized cost in the absence of market quotes, so long as the amortized cost value of such short-term debt instrument is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. Floating rate loans are generally valued on the basis of an evaluated or composite average of aggregate bid and ask quotations supplied by brokers or dealers, as obtained from the pricing service. Securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Mortgage and asset-backed securities are generally valued on the basis of evaluated or composite bid quotations obtained from pricing services selected by the Adviser pursuant to authorization of and subject to general oversight by the Board. These securities are usually issued as separate trachnes, or classes, of securities within each deal. The pricing models for these securities usually consider tranchelevel attributes, current market data, estimated cash flows and market-based yield spreads for each tranche and incorporate deal collateral performance, as available. Mortgage and asset-backed securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Domestic and foreign equity securities, such as common stock, exchange-traded funds, rights, warrants, and preferred stock, that are traded on a securities exchange on a valuation date are generally valued at their last quoted sale price or official closing price on the primary exchange for such security, or, if no sales occurred on that day, at the last reported bid price. Equity securities traded over-the-counter (“OTC”) are generally valued at the last reported bid price. In the event of a major exchange closing during the trading day, the Advisor may use other market information obtained from quotation reporting systems, established market makers, or pricing services in valuing the securities. Valuation adjustments may be applied to certain foreign equity securities that are traded solely on foreign exchanges that close before the time as of which the Portfolio determines the NAV to account for the market movement between the close of the foreign exchanges and the time as of which the Portfolio determines its NAV. The Portfolio may use a systematic fair valuation model provided by pricing service to value securities principally traded in these foreign markets in order to adjust for possible market movements or other changes that may occur between the close of the foreign exchanges and the time as of which the Portfolio determines the NAV. Foreign equity securities valued using these valuation adjustments are generally categorized as Level 2 within the fair value hierarchy. Equity securities that are actively traded, and have no valuation adjustments applied, are categorized as Level 1 within the fair value hierarchy. Other equity securities traded on inactive markets, or valued in reference to similar instruments traded on active markets, are generally categorized as Level 2 within the fair value hierarchy.

Investments in registered open-end management investment companies are valued at reported net asset value per share on the valuation date and are categorized as Level 1 within the fair value hierarchy.

Foreign currency forward contracts are valued through an independent pricing service by interpolating between forward and spot currency rates in the London foreign exchange markets as of a designated hour on a valuation day. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Options, whether on securities, indices, futures contracts, or otherwise, traded on exchanges are valued at the last sale price available as of the close of business on a valuation day or, if there is no such price available, at the last reported bid price. These types of options are categorized as Level 1 within the fair value hierarchy. Futures contracts that are traded on commodity exchanges are valued at their settlement prices established by the exchanges on which they are traded as of the close of such exchanges and are categorized as Level 1 within the fair value hierarchy.

Options, including options on swaps (“swaptions”), currencies, and futures contracts that are traded OTC are generally valued on the basis of interdealer bid and asked prices or prices provided by pricing service providers who use a series of techniques, including simulation pricing models, to determine the value of the contracts. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, credit curves, measures of volatility and exchange rates. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Swap contracts (other than centrally cleared swaps) are marked-to-market daily based on quotations and prices supplied by market makers, broker-dealers and other pricing services. Such quotations and prices are derived utilizing observable data, including the underlying reference securities or indices, credit spread quotations and expected default recovery rates determined by the pricing service. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange or a pricing service when the exchange price is not available. For

BHFTII-306

Brighthouse Funds Trust II

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements—(Continued)

centrally cleared credit default swaps, the clearing facility requires its members to provide actionable price levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. These securities are categorized as Level 2 within the fair value hierarchy. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates, including the overnight index swap rate and London Interbank Offered Rate (“LIBOR”) forward rate to produce the daily settlement price. These securities are categorized as Level 2 within the fair value hierarchy.

If no current market value quotation or other observable inputs are readily available or market value quotations are deemed to be unreliable for an investment, the fair value of the investment will be determined in accordance with procedures approved by, and under the general supervision of, the Board. In such a circumstance, the Board will be assisted in its responsibility to determine the fair value of an investment by the Valuation Committee (“Committee”) of the Adviser. The Committee provides general pricing oversight and fair value pricing determinations related to portfolio securities and meets on a regular basis to review reports relating to the valuation of the securities in each Portfolio. The Board has delegated to State Street Bank and Trust Company, the Trust’s custodian (“custodian”), the responsibility for calculating the net asset values (“NAVs”) of the Trust’s Portfolios. The Committee is responsible for overseeing the calculation of the NAVs of the Portfolios by the custodian. The Committee also periodically reviews pricing services, including the pricing services providing fair value pricing for the Portfolio’s foreign securities, and is responsible for overseeing the correction of pricing errors and addressing other pricing issues that arise in the ordinary course of business, such as making real-time fair value determinations, as necessary.

No single standard for determining the fair value of an investment can be set forth because fair value depends upon the facts and circumstances with respect to each investment. Information relating to any relevant factors may be obtained by the Committee from any appropriate source, including the subadviser of a Portfolio, the custodian, a pricing service, market maker and/or broker for such security or the issuer. Appropriate methodologies for determining fair value under particular circumstances may include: matrix pricing, a discounted cash flow analysis, comparisons of securities with comparable characteristics, value based on multiples of earnings, discount from market price of similar marketable securities or a combination of these and other method.

For information regarding a Portfolio’s other significant accounting policies, please refer to the Portfolio’s most recent Semiannual or Annual Report.

BHFTII-307

Item 2. Controls and Procedures.

(a)        The Principal Executive Officer and Principal Financial Officer of the registrant have concluded, based on their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as of a date within 90 days of the filing date of this report on Form N-Q, that the design and operation of such procedures provide reasonable assurance that information required to be disclosed by the registrant in this report on Form N-Q is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b)        There has been no change in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

See attached Exhibits 3(a) and 3(b) as required by Rule 30a-2(a) under the Act.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BRIGHTHOUSE FUNDS TRUST II
By:	/s/ Kristi Slavin
	Kristi Slavin
	President and Chief Executive Officer
Date:	November 21, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Kristi Slavin
	Kristi Slavin
	President and Chief Executive Officer
Date:	November 21, 2018
By:	/s/ Alan R. Otis
	Alan R. Otis
	Chief Financial Officer and Treasurer
Date:	November 21, 2018