Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—98.2% of Net Assets

Security Description	Shares		Value
Argentina—3.4%
MercadoLibre, Inc. (a) (b)		125,913	$	63,929,807
Australia—1.9%
Cochlear, Ltd.		140,697		17,378,301
CSL, Ltd.		134,963		18,749,224
				36,127,525
Brazil—1.4%
Itau Unibanco Holding S.A. (ADR)		1,766,501		15,562,874
Kroton Educacional S.A.		3,892,500		10,538,138
				26,101,012
Canada—4.4%
Constellation Software, Inc.		42,806		36,276,271
Fairfax Financial Holdings, Ltd.		71,925		33,315,804
Ritchie Bros. Auctioneers, Inc.		370,516		12,597,544
				82,189,619
China—4.5%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		219,659		40,076,785
Tencent Holdings, Ltd.		714,000		32,830,845
Tencent Music Entertainment Group (ADR) (a) (b)		703,045		12,725,114
				85,632,744
Denmark—2.5%
DSV A/S		365,033		30,208,157
Novozymes A/S - B Shares		353,665		16,268,932
				46,477,089
Finland—2.2%
Kone Oyj - Class B		536,188		27,068,441
Sampo Oyj - A Shares		307,017		13,924,045
				40,992,486
France—4.9%
Danone S.A.		240,476		18,548,841
Edenred		859,539		39,146,958
EssilorLuxottica S.A.		115,390		12,610,293
Legrand S.A.		318,337		21,340,397
				91,646,489
Germany—8.1%
Continental AG		64,003		9,634,545
Deutsche Boerse AG		333,728		42,788,861
MTU Aero Engines AG		97,682		22,116,288
SAP SE		444,853		51,400,239
Scout24 AG		534,823		27,676,321
				153,616,254
Hong Kong—4.5%
AIA Group, Ltd.		5,124,800		51,012,279
Hong Kong Exchanges and Clearing, Ltd.		948,000		33,037,168
				84,049,447
India—1.6%
Housing Development Finance Corp., Ltd.		1,075,995		30,517,953
Ireland—4.2%
CRH plc		734,120		22,722,971
Kingspan Group plc		577,930		26,771,151
Ryanair Holdings plc (ADR) (b)		400,773		30,033,929
				79,528,051
Japan—11.4%
Denso Corp.		408,500		15,962,927
FANUC Corp.		106,900		18,296,183
Japan Exchange Group, Inc.		1,894,800		33,725,873
Nidec Corp.		234,000		29,870,965
Shimano, Inc.		174,100		28,387,851
SMC Corp.		77,200		29,140,218
Sony Corp.		408,000		17,172,496
Sumitomo Mitsui Trust Holdings, Inc.		556,500		20,027,033
Toyota Tsusho Corp.		714,100		23,303,579
				215,887,125
Netherlands—3.2%
ASML Holding NV		89,447		16,809,211
Heineken Holding NV		291,428		29,225,009
IMCD NV		180,478		13,746,166
				59,780,386
Panama—1.0%
Copa Holdings S.A. - Class A		242,804		19,572,430
Peru—1.3%
Credicorp, Ltd.		102,148		24,510,413
Russia—0.6%
Magnit PJSC (GDR)		854,138		12,049,741
Singapore—1.4%
United Overseas Bank, Ltd.		1,453,664		27,016,517
South Africa—2.6%
Discovery, Ltd.		1,702,346		16,129,830
Naspers, Ltd. - N Shares		138,292		31,998,324
				48,128,154
South Korea—2.9%
NAVER Corp.		123,865		13,551,073
Samsung Electronics Co., Ltd.		1,047,786		41,203,734
				54,754,807
Spain—3.0%
Bankinter S.A.		2,551,972		19,442,346
Grifols S.A.		469,966		13,164,841
Industria de Diseno Textil S.A.		790,927		23,260,201
				55,867,388

BHFTII-1

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Sweden—2.5%
Atlas Copco AB - B Shares		1,133,325	$	28,076,594
Epiroc AB - Class B (b)		2,067,087		19,800,466
				47,877,060
Switzerland—5.1%
Cie Financiere Richemont S.A.		272,252		19,860,822
Credit Suisse Group AG (b)		1,477,754		17,250,878
Nestle S.A.		419,900		40,073,935
SGS S.A.		7,859		19,576,498
				96,762,133
Taiwan—3.4%
Taiwan Semiconductor Manufacturing Co., Ltd.		8,020,000		64,159,488
United Kingdom—14.5%
ASOS plc (a) (b)		458,517		19,121,640
boohoo Group plc (b)		6,528,432		16,120,011
Burberry Group plc		730,253		18,651,072
Experian plc		1,111,686		30,121,780
Hargreaves Lansdown plc		1,089,043		26,510,616
Howden Joinery Group plc		2,000,642		12,674,743
Just Eat plc (b)		3,003,763		29,415,488
Prudential plc		1,439,242		28,847,311
Rio Tinto plc		863,199		50,221,987
St. James’s Place plc		1,039,748		13,968,429
Unilever NV		479,004		27,841,108
				273,494,185
United States—1.7%
Pricesmart, Inc. (a)		130,472		7,682,191
Spotify Technology S.A. (b)		170,107		23,610,852
				31,293,043
Total Common Stocks (Cost $1,472,571,791)				1,851,961,346
Preferred Stock—0.3%
Spain—0.3%
Grifols S.A. - Class B (Cost $6,362,013)		261,847		5,224,184
Short-Term Investment—0.6%
Repurchase Agreement—0.6%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $11,718,578; collateralized by U.S. Treasury Note at 2.500%, maturing 01/15/22, with a market value of $11,953,034.		11,717,406		11,717,406
Total Short-Term Investments (Cost $11,717,406)				11,717,406
Securities Lending Reinvestments (c)—2.6%
Security Description	Principal Amount*		Value
Certificate of Deposit—0.1%
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (d)		1,000,000	$	1,000,355
Commercial Paper—0.2%
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (d)		1,000,000		1,000,000
Matchpoint Finance plc 2.450%, 04/01/19		1,999,592		1,999,562
				2,999,562
Repurchase Agreements—1.5%
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $300,061; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $306,000.		300,000		300,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $200,047; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $204,000.		200,000		200,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $200,042; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $204,000.		200,000		200,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $1,000,229; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $8,709,271; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $8,881,591.		8,707,442		8,707,442
ING Financial Markets LLC Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $8,001,700; collateralized by U.S. Government Agency Obligations with rates ranging from 1.200% - 6.250%, maturity dates ranging from 09/12/19 - 07/15/32, and an aggregate market value of $8,160,050.		8,000,000		8,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $302,377; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $321,407.		300,000		300,000

BHFTII-2

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $3,285,005; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,559,045.		3,200,000	$	3,200,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $5,131,078; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $5,561,008.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $1,000,494; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,112,202.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $300,148; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $333,661.		300,000		300,000
				28,207,442
Time Deposits—0.8%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		2,000,000		2,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
DZ Bank AG New York 2.430%, 04/01/19		2,000,000		2,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		2,000,000		2,000,000
Royal Bank of Canada 2.450%, 04/01/19		2,000,000		2,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		2,000,000		2,000,000
				16,000,000
Total Securities Lending Reinvestments (Cost $48,207,442)				48,207,359
Total Investments—101.7% (Cost $1,538,858,652)				1,917,110,295
Other assets and liabilities (net)—(1.7)%				(31,192,476	)
Net Assets—100.0%			$	1,885,917,819

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $56,401,696 and the collateral received consisted of cash in the amount of $48,207,034 and non-cash collateral with a value of $8,281,847. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(GDR)—	Global Depositary Receipt
(LIBOR)—	London Interbank Offered Rate

Ten Largest Industries as of March 31, 2019 (Unaudited)	% of Net Assets
Internet & Direct Marketing Retail		8.9
Capital Markets		8.9
Insurance		7.6
Machinery		6.5
Banks		5.7
Software		4.7
Semiconductors & Semiconductor Equipment		4.3
Interactive Media & Services		3.9
Food Products		3.1
Commercial Services & Supplies		2.7

BHFTII-3

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Argentina	$	63,929,807	$	—		$	—	$	63,929,807
Australia		—		36,127,525			—		36,127,525
Brazil		26,101,012		—			—		26,101,012
Canada		82,189,619		—			—		82,189,619
China		52,801,899		32,830,845			—		85,632,744
Denmark		—		46,477,089			—		46,477,089
Finland		—		40,992,486			—		40,992,486
France		—		91,646,489			—		91,646,489
Germany		—		153,616,254			—		153,616,254
Hong Kong		—		84,049,447			—		84,049,447
India		—		30,517,953			—		30,517,953
Ireland		30,033,929		49,494,122			—		79,528,051
Japan		—		215,887,125			—		215,887,125
Netherlands		—		59,780,386			—		59,780,386
Panama		19,572,430		—			—		19,572,430
Peru		24,510,413		—			—		24,510,413
Russia		—		12,049,741			—		12,049,741
Singapore		—		27,016,517			—		27,016,517
South Africa		—		48,128,154			—		48,128,154
South Korea		—		54,754,807			—		54,754,807
Spain		—		55,867,388			—		55,867,388
Sweden		—		47,877,060			—		47,877,060
Switzerland		—		96,762,133			—		96,762,133
Taiwan		—		64,159,488			—		64,159,488
United Kingdom		—		273,494,185			—		273,494,185
United States		31,293,043		—			—		31,293,043
Total Common Stocks		330,432,152		1,521,529,194			—		1,851,961,346
Total Preferred Stock*		—		5,224,184			—		5,224,184
Total Short-Term Investment*		—		11,717,406			—		11,717,406
Total Securities Lending Reinvestments*		—		48,207,359			—		48,207,359
Total Investments	$	330,432,152	$	1,586,678,143		$	—	$	1,917,110,295
Collateral for Securities Loaned (Liability)	$	—	$	(48,207,034	)	$	—	$	(48,207,034	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-4

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

U.S. Treasury & Government Agencies—44.0% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—33.8%
Fannie Mae 15 Yr. Pool
2.000%, 10/01/31		250,109	$	243,693
2.000%, 11/01/31		3,057,554		2,979,113
2.000%, 12/01/31		327,534		319,131
2.000%, 03/01/32		1,951,858		1,901,782
2.500%, 09/01/27		282,197		281,943
2.500%, 02/01/28		33,077		33,062
2.500%, 04/01/28		81,470		81,434
2.500%, 08/01/28		224,327		224,228
2.500%, 01/01/30		1,163,869		1,158,071
2.500%, 02/01/30		146,316		145,964
2.500%, 03/01/30		245,019		243,893
2.500%, 07/01/30		859,021		854,994
2.500%, 08/01/30		2,903,613		2,890,917
2.500%, 09/01/30		1,397,478		1,390,959
2.500%, 11/01/30		2,917,587		2,904,497
2.500%, 03/01/31		165,211		165,036
2.500%, 06/01/31		802,949		799,627
2.500%, 07/01/31		447,099		445,249
2.500%, 08/01/31		78,650		78,324
2.500%, 10/01/31		3,902,050		3,885,404
2.500%, 11/01/31		2,416,818		2,407,196
2.500%, 02/01/32		115,481		114,950
2.500%, 03/01/32		377,737		376,407
2.500%, 08/01/32		2,812,300		2,800,058
2.500%, 02/01/33		4,985,388		4,961,702
3.000%, 04/01/28		175,572		177,515
3.000%, 05/01/28		217,976		220,372
3.000%, 10/01/28		384,216		388,190
3.000%, 11/01/28		2,854,498		2,886,367
3.000%, 12/01/28		888,644		898,329
3.000%, 01/01/29		294,385		297,535
3.000%, 04/01/29		1,302,946		1,317,794
3.000%, 05/01/29		1,777,488		1,796,913
3.000%, 08/01/29		1,893,159		1,914,806
3.000%, 10/01/29		505,802		511,730
3.000%, 03/01/30		1,011,688		1,023,528
3.000%, 04/01/30		851,715		861,412
3.000%, 05/01/30		1,290,402		1,305,286
3.000%, 07/01/30		1,036,749		1,048,525
3.000%, 08/01/30		4,734,276		4,788,193
3.000%, 09/01/30		1,131,725		1,144,289
3.000%, 08/01/31		4,807,462		4,857,117
3.000%, 09/01/31		481,091		486,592
3.000%, 03/01/32		991,533		1,002,591
3.500%, 08/01/28		480,040		491,458
3.500%, 10/01/28		2,987,259		3,065,770
3.500%, 11/01/28		3,113,455		3,195,349
3.500%, 02/01/29		4,526,203		4,640,293
3.500%, 04/01/29		1,046,854		1,071,508
3.500%, 05/01/29		2,966,697		3,039,440
3.500%, 06/01/29		2,138,144		2,191,330
3.500%, 07/01/29		1,268,041		1,301,120
3.500%, 09/01/29		178,894		183,373
3.500%, 08/01/30		900,057		922,640
3.500%, 11/01/32		217,345		222,997
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 15 Yr. Pool
3.500%, 01/01/33		144,011		147,773
4.000%, 10/01/33		12,769,936		13,270,629
4.500%, 12/01/20		117,003		119,041
4.500%, 02/01/25		283,537		291,646
4.500%, 04/01/25		61,323		63,079
4.500%, 07/01/25		239,292		246,149
4.500%, 06/01/26		1,540,497		1,584,502
Fannie Mae 20 Yr. Pool
3.000%, 10/01/36		111,123		112,246
3.000%, 11/01/36		1,129,544		1,140,957
3.000%, 12/01/36		1,673,183		1,690,092
5.000%, 05/01/23		1,515		1,600
Fannie Mae 30 Yr. Pool
3.000%, 12/01/42		6,856,091		6,861,789
3.000%, 01/01/43		4,728,369		4,732,299
3.000%, 02/01/43		2,229,845		2,231,697
3.000%, 03/01/43		18,214,026		18,228,677
3.000%, 04/01/43		12,361,931		12,372,204
3.000%, 05/01/43		16,641,879		16,655,713
3.000%, 06/01/43		2,150,079		2,151,866
3.000%, 07/01/43		1,219,293		1,220,306
3.000%, 08/01/43		986,138		986,958
3.000%, 06/01/46		765,702		765,897
3.000%, 08/01/46		82,003		82,033
3.000%, 09/01/46		1,163,780		1,163,043
3.000%, 11/01/46		4,052,567		4,046,280
3.000%, 01/01/47		395,570		395,226
3.000%, 02/01/47		950,608		949,198
3.000%, 03/01/47		3,129,026		3,122,576
3.000%, TBA (a)		5,539,058		5,516,123
3.500%, 01/01/42		715,841		731,561
3.500%, 04/01/42		429,018		438,281
3.500%, 05/01/42		316,260		322,949
3.500%, 06/01/42		747,637		764,231
3.500%, 07/01/42		117,338		119,872
3.500%, 08/01/42		190,674		194,791
3.500%, 10/01/42		1,019,196		1,041,064
3.500%, 11/01/42		2,259,445		2,308,017
3.500%, 12/01/42		1,147,521		1,172,281
3.500%, 02/01/43		1,372,617		1,404,900
3.500%, 03/01/43		1,477,274		1,511,227
3.500%, 04/01/43		46,118		47,114
3.500%, 05/01/43		268,978		274,988
3.500%, 06/01/43		1,153,581		1,177,505
3.500%, 07/01/43		9,129,870		9,343,760
3.500%, 08/01/43		6,776,045		6,936,175
3.500%, 09/01/43		107,705		110,281
3.500%, 11/01/43		1,142,389		1,169,269
3.500%, 01/01/44		1,038,000		1,061,477
3.500%, 05/01/44		12,230,973		12,573,985
3.500%, 06/01/44		10,025,019		10,241,818
3.500%, 07/01/44		52,799		54,041
3.500%, 02/01/45		1,018,633		1,040,575
3.500%, 07/01/45		3,094,299		3,162,224
3.500%, 10/01/45		1,562,072		1,598,212

BHFTII-5

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
3.500%, 11/01/45		3,266,891	$	3,345,816
3.500%, 12/01/45		783,403		803,482
3.500%, 03/01/46		1,126,364		1,149,267
3.500%, 04/01/46		1,717,726		1,749,666
3.500%, 05/01/46		723,115		737,794
3.500%, 06/01/46		3,138,207		3,202,548
3.500%, 08/01/46		1,502,510		1,532,864
3.500%, 09/01/46		1,568,500		1,603,726
3.500%, 11/01/46		2,897,455		2,969,682
3.500%, 12/01/46		3,412,109		3,490,994
3.500%, 01/01/47		7,395,416		7,592,022
3.500%, 02/01/47		582,845		596,551
3.500%, 05/01/47		1,976,698		2,022,833
3.500%, 06/01/47		1,208,470		1,235,267
3.500%, 07/01/47		851,433		871,138
3.500%, 09/01/47		835,779		853,488
3.500%, 10/01/47		260,275		266,074
3.500%, 11/01/47		1,448,093		1,483,675
3.500%, 12/01/47		9,766,480		9,983,158
3.500%, 01/01/48		6,354,347		6,495,323
4.000%, 08/01/33		1,069,478		1,100,042
4.000%, 06/01/39		840,842		872,054
4.000%, 12/01/39		76,660		79,493
4.000%, 07/01/40		1,008,248		1,045,557
4.000%, 08/01/40		1,836,761		1,905,226
4.000%, 10/01/40		4,966,585		5,178,736
4.000%, 11/01/40		329,437		341,721
4.000%, 12/01/40		1,697,408		1,760,707
4.000%, 04/01/41		160,916		166,918
4.000%, 09/01/41		4,125,559		4,279,453
4.000%, 10/01/41		292,950		303,879
4.000%, 12/01/41		1,137,696		1,194,546
4.000%, 01/01/42		1,120,051		1,165,990
4.000%, 02/01/42		2,829,385		2,934,904
4.000%, 05/01/42		1,112,225		1,160,923
4.000%, 06/01/42		577,649		599,170
4.000%, 07/01/42		4,077,716		4,275,846
4.000%, 08/01/42		311,909		323,541
4.000%, 09/01/42		757,360		785,599
4.000%, 12/01/42		2,189,878		2,288,290
4.000%, 01/01/43		936,432		971,320
4.000%, 03/01/43		191,362		199,914
4.000%, 10/01/43		702,998		729,188
4.000%, 11/01/43		3,264,478		3,427,199
4.000%, 01/01/44		2,422,108		2,543,104
4.000%, 02/01/44		2,342,856		2,458,837
4.000%, 05/01/44		3,423,201		3,592,852
4.000%, 07/01/44		220,988		229,034
4.000%, 08/01/44		766,787		805,082
4.000%, 12/01/44		2,118,829		2,218,330
4.000%, 01/01/45		348,026		364,759
4.000%, 02/01/45		1,100,682		1,150,676
4.000%, 03/01/45		958,504		997,526
4.000%, 04/01/45		868,370		910,128
4.000%, 05/01/45		851,401		890,702
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.000%, 10/01/45		5,745,547		6,019,321
4.000%, 11/01/45		2,134,372		2,238,596
4.000%, 12/01/45		4,392,928		4,593,912
4.000%, 01/01/46		4,638,781		4,812,287
4.000%, 02/01/46		1,553,151		1,622,565
4.000%, 06/01/46		3,595,276		3,718,195
4.000%, 11/01/46		272,298		285,899
4.000%, 01/01/47		394,016		413,692
4.000%, 03/01/47		67,553,402		70,756,565
4.000%, 08/01/47		985,720		1,026,928
4.000%, 03/01/48		2,556,040		2,688,832
4.000%, 04/01/48		1,594,453		1,675,773
4.000%, 08/01/48		10,078,157		10,486,537
4.000%, TBA (a)		1,223,000		1,257,015
4.500%, 08/01/39		1,206,156		1,275,286
4.500%, 11/01/39		372,684		397,247
4.500%, 01/01/40		38,366		40,787
4.500%, 04/01/40		88,025		93,535
4.500%, 05/01/40		226,155		239,100
4.500%, 06/01/40		211,288		223,393
4.500%, 07/01/40		436,681		461,695
4.500%, 08/01/40		2,893,186		3,058,883
4.500%, 11/01/40		829,074		876,576
4.500%, 07/01/41		242,237		256,042
4.500%, 08/01/41		33,568		34,964
4.500%, 09/01/41		895,242		945,159
4.500%, 10/01/41		178,073		189,080
4.500%, 01/01/42		169,253		178,942
4.500%, 06/01/42		82,276		85,719
4.500%, 08/01/42		1,032,412		1,087,693
4.500%, 09/01/42		2,620,101		2,770,087
4.500%, 09/01/43		1,050,950		1,107,157
4.500%, 10/01/43		1,302,126		1,368,800
4.500%, 12/01/43		1,442,144		1,519,422
4.500%, 01/01/44		1,637,914		1,725,419
4.500%, 09/01/45		722,710		769,321
4.500%, 11/01/45		468,384		497,807
4.500%, 12/01/45		1,177,303		1,241,479
4.500%, 09/01/46		611,405		655,240
4.500%, 09/01/47		82,858		86,727
4.500%, 10/01/47		210,279		221,287
4.500%, 11/01/47		53,786		56,505
4.500%, 12/01/47		66,768		70,147
4.500%, 02/01/48		121,939		127,591
4.500%, 03/01/48		222,637		233,481
4.500%, 04/01/48		1,377,173		1,476,490
4.500%, 05/01/48		18,597,454		19,805,309
4.500%, 07/01/48		261,063		276,641
4.500%, 08/01/48		574,589		616,567
4.500%, TBA (a)		91,104,000		94,849,851
5.000%, 11/01/32		3,545		3,782
5.000%, 09/01/35		194,707		209,502
5.000%, 06/01/39		8,458,538		9,124,806
5.000%, 04/01/41		35,097		37,860
5.000%, 07/01/41		367,659		394,234

BHFTII-6

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.000%, 08/01/41		339,616	$	366,362
5.000%, 01/01/42		50,857		53,745
5.000%, 06/01/47		23,325		24,685
5.000%, 01/01/48		26,070		28,005
5.000%, 04/01/48		1,274,107		1,367,241
5.000%, 09/01/48		1,636,371		1,731,713
5.000%, 10/01/48		3,528,910		3,737,921
5.000%, 12/01/48		12,342,997		13,067,296
5.000%, 01/01/49		7,632,094		8,084,638
5.000%, 02/01/49		18,518,479		19,616,544
5.500%, 11/01/32		931,263		1,009,295
5.500%, 12/01/32		163,355		176,601
5.500%, 01/01/33		587,772		632,862
5.500%, 12/01/33		219,297		237,908
5.500%, 05/01/34		1,716,991		1,888,978
5.500%, 08/01/37		1,779,554		1,957,797
5.500%, 02/01/38		255,552		274,386
5.500%, 03/01/38		190,299		207,953
5.500%, 04/01/38		110,500		117,931
5.500%, 06/01/38		249,315		266,397
5.500%, 12/01/38		116,182		123,995
5.500%, 01/01/39		277,444		304,370
5.500%, 08/01/39		191,047		204,933
5.500%, 12/01/39		412,858		443,425
5.500%, 04/01/40		67,283		72,347
5.500%, 04/01/41		271,157		292,895
6.000%, 02/01/34		198,220		218,764
6.000%, 08/01/34		148,575		163,978
6.000%, 04/01/35		2,344,292		2,586,932
6.000%, 06/01/36		288,969		322,584
6.000%, 02/01/38		479,654		528,708
6.000%, 03/01/38		148,114		163,547
6.000%, 05/01/38		489,688		540,739
6.000%, 10/01/38		595,598		657,498
6.000%, 12/01/38		178,481		196,869
6.000%, 04/01/40		1,904,989		2,103,315
6.000%, 09/01/40		201,543		222,557
6.000%, 06/01/41		440,436		485,744
6.500%, 05/01/40		2,770,505		3,169,092
Fannie Mae Pool 4.000%, 01/01/41		408,031		421,849
Fannie Mae REMICS (CMO) 5.000%, 04/25/35		42,401		43,928
Fannie Mae-ACES (CMO)
2.961%, 02/25/27 (b)		1,598,000		1,601,331
2.986%, 12/25/27 (b)		507,000		508,184
Freddie Mac 15 Yr. Gold Pool
2.500%, 04/01/27		116,328		116,358
2.500%, 10/01/28		404,091		404,195
2.500%, 08/01/29		952,395		952,283
2.500%, 12/01/29		251,177		250,200
2.500%, 05/01/30		1,018,709		1,017,092
2.500%, 07/01/30		686,634		685,438
2.500%, 08/01/30		2,364,660		2,358,601
2.500%, 09/01/30		2,579,347		2,571,022
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 15 Yr. Gold Pool
2.500%, 04/01/31		1,837,650		1,830,495
2.500%, TBA (a)		7,117,000		7,080,303
3.000%, 01/01/30		739,954		749,532
3.000%, 04/01/30		3,913,335		3,963,282
3.000%, 05/01/30		642,947		651,463
3.000%, 06/01/30		27,045		27,378
3.000%, 07/01/30		1,445,466		1,462,882
3.000%, 08/01/30		473,345		478,999
3.000%, TBA (a)		9,130,000		9,218,716
Freddie Mac 30 Yr. Gold Pool
3.000%, 12/01/42		2,554,606		2,557,110
3.000%, 01/01/43		1,699,141		1,700,806
3.000%, 03/01/43		3,661,527		3,665,113
3.000%, 07/01/43		10,632,282		10,642,705
3.000%, 12/01/46		2,944,588		2,940,053
3.000%, TBA (a)		34,726,779		34,587,926
3.500%, 04/01/42		2,174,783		2,223,538
3.500%, 05/01/42		108,228		110,507
3.500%, 08/01/42		2,642,164		2,704,716
3.500%, 10/01/42		132,353		135,089
3.500%, 11/01/42		1,034,349		1,057,296
3.500%, 01/01/43		1,222,448		1,249,551
3.500%, 06/01/43		297,921		304,421
3.500%, 12/01/43		4,850,256		4,957,781
3.500%, 01/01/44		21,943,665		22,468,330
3.500%, 04/01/44		2,176,527		2,229,820
3.500%, 05/01/44		532,198		545,718
3.500%, 06/01/44		383,811		392,635
3.500%, 07/01/44		110,851		113,994
3.500%, 08/01/44		403,421		413,301
3.500%, 09/01/44		846,785		868,254
3.500%, 11/01/44		22,803		23,281
3.500%, 01/01/45		166,337		169,833
3.500%, 05/01/45		245,776		250,931
3.500%, 06/01/45		211,109		215,547
3.500%, 07/01/45		5,842		5,964
3.500%, 08/01/45		6,327,067		6,482,071
3.500%, 09/01/45		178,382		183,315
3.500%, 10/01/45		23,101		23,586
3.500%, 01/01/46		1,056,196		1,078,397
3.500%, 02/01/46		73,119		74,656
3.500%, 03/01/46		751,964		767,771
3.500%, 05/01/46		859,241		877,302
3.500%, 07/01/46		7,790,834		7,968,451
3.500%, 03/01/47		2,184,624		2,237,287
3.500%, 07/01/47		336,372		344,614
3.500%, 10/01/47		1,328,382		1,362,378
3.500%, 12/01/47		1,654,143		1,693,917
3.500%, 01/01/48		543,158		555,845
4.000%, 08/01/40		283,802		294,602
4.000%, 09/01/40		304,713		317,500
4.000%, 10/01/40		136,177		141,942
4.000%, 11/01/40		607,994		633,691
4.000%, 04/01/41		16,163		16,779
4.000%, 10/01/41		519,008		542,656

BHFTII-7

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
4.000%, 09/01/43		426,979	$	447,876
4.000%, 04/01/44		983,800		1,028,587
4.000%, 07/01/44		323,512		335,835
4.000%, 08/01/44		3,109,150		3,261,263
4.000%, 02/01/45		279,308		289,920
4.000%, 09/01/45		1,204,884		1,250,666
4.000%, 10/01/45		1,746,658		1,819,719
4.000%, 12/01/45		12,047,356		12,448,821
4.000%, 01/01/47		5,635,914		5,892,474
4.000%, 08/01/47		2,225,285		2,334,149
4.500%, 02/01/39		1,122,749		1,187,822
4.500%, 08/01/39		1,006,440		1,065,671
4.500%, 12/01/39		245,401		259,834
4.500%, 07/01/40		78,550		83,183
4.500%, 05/01/41		1,558,282		1,650,266
4.500%, 05/01/42		1,445,345		1,530,435
4.500%, 10/01/43		794,280		833,316
4.500%, 12/01/43		1,796,672		1,885,520
4.500%, 07/01/47		1,836,809		1,957,547
4.500%, 08/01/48		9,958,559		10,623,034
5.000%, 10/01/41		617,005		666,225
5.000%, 11/01/41		5,218,166		5,634,449
5.500%, 02/01/35		141,749		155,793
5.500%, 09/01/39		172,270		188,342
5.500%, 01/01/40		95,605		102,377
5.500%, 07/01/40		27,676		29,636
5.500%, 06/01/41		2,094,873		2,296,574
Freddie Mac Gold Pool
3.000%, 09/01/27		568,131		574,078
3.000%, 07/01/28		301,308		304,462
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 0.845%, 06/25/27 (b) (c)		2,623,727		138,027
2.653%, 08/25/26		270,000		267,212
2.770%, 05/25/25		1,110,000		1,107,224
3.120%, 09/25/26 (b)		1,080,000		1,101,368
3.224%, 03/25/27		771,000		790,448
3.347%, 11/25/26 (b)		490,000		506,954
3.430%, 01/25/27 (b)		410,000		426,319
3.444%, 12/25/27		210,000		218,498
3.531%, 07/25/23 (b)		500,000		518,023
3.590%, 01/25/25		291,000		304,181
3.683%, 10/25/25 (b)		453,000		469,535
3.850%, 05/25/28 (b)		530,000		568,018
4.050%, 09/25/28 (b)		1,050,000		1,142,607
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 4.636%, 1M LIBOR + 2.150%, 12/25/30 (144A) (b)		409,231		406,381
6.936%, 1M LIBOR + 4.450%, 03/25/30 (b)		682,210		731,976
FREMF Mortgage Trust (CMO) 3.981%, 05/25/50 (144A) (b)		275,556		279,787
4.051%, 04/25/48 (144A) (b)		360,000		367,922
4.229%, 08/25/50 (144A) (b)		440,000		450,820
FRESB Mortgage Trust (CMO) 3.480%, 06/25/28 (b)		716,027		736,523
3.660%, 06/25/28 (b)		422,378		436,881
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae I 30 Yr. Pool 3.000%, 02/15/45		1,299,240		1,307,421
3.500%, 01/15/42		376,457		386,598
3.500%, 02/15/42		161,473		165,763
3.500%, 04/15/42		302,883		311,083
3.500%, 05/15/42		331,962		341,546
3.500%, 08/15/42		469,307		482,766
3.500%, 11/15/42		275,964		282,974
3.500%, 12/15/42		1,042,045		1,072,071
3.500%, 01/15/43		446,629		457,969
3.500%, 02/15/43		693,472		712,167
3.500%, 03/15/43		376,267		385,742
3.500%, 04/15/43		2,088,642		2,146,018
3.500%, 05/15/43		2,305,415		2,366,587
3.500%, 06/15/43		623,363		641,323
3.500%, 07/15/43		2,206,993		2,270,539
4.000%, 03/15/41		787,997		818,912
4.000%, 12/15/41		25,167		26,004
4.500%, 02/15/42		9,768,918		10,281,145
4.500%, 03/15/47		144,356		151,977
4.500%, 04/15/47		370,395		390,924
4.500%, 05/15/47		133,117		140,738
5.000%, 12/15/38		273,416		293,681
5.000%, 07/15/39		641,624		688,664
5.000%, 10/15/39		349,817		375,664
5.000%, 09/15/40		24,460		26,267
5.000%, 12/15/40		871,827		935,914
5.500%, 04/15/33		24,499		26,935
6.500%, 04/15/33		45,003		49,406
8.500%, 05/15/22		407		407
Ginnie Mae II 30 Yr. Pool 3.000%, 12/20/44		160,209		161,540
3.000%, 04/20/45		3,106,236		3,126,869
3.000%, 06/20/45		8,097,310		8,151,068
3.000%, 07/20/45		84,101		84,660
3.000%, 08/20/45		84,167		84,727
3.000%, 10/20/45		1,004,994		1,011,669
3.000%, 12/20/45		88,077		88,662
3.000%, 04/20/46		17,896,800		18,015,644
3.000%, 05/20/46		127,090		127,973
3.000%, 06/20/46		2,906,902		2,925,321
3.000%, 07/20/46		5,989,197		6,028,987
3.000%, 08/20/46		1,128,609		1,136,108
3.000%, 09/20/46		10,990,179		11,069,976
3.000%, 10/20/46		435,523		438,417
3.000%, 11/20/46		282,922		284,802
3.000%, 12/20/46		1,074,150		1,081,286
3.000%, TBA (a)		1,113,500		1,118,850
3.500%, 04/20/43		2,039,611		2,091,461
3.500%, 05/20/43		1,099,077		1,127,044
3.500%, 07/20/43		85,744		87,926
3.500%, 02/20/44		2,544,096		2,600,866
3.500%, 05/20/45		712,534		729,526
3.500%, 05/20/46		1,554,362		1,591,463
3.500%, 09/20/46		578,398		592,216

BHFTII-8

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
3.500%, 10/20/46		2,266,011	$	2,318,318
3.500%, TBA (a)		76,233,496		77,913,015
4.000%, 04/20/39		45,027		46,895
4.000%, 07/20/39		336,627		350,617
4.000%, 09/20/40		92,468		96,440
4.000%, 10/20/40		1,033,364		1,076,364
4.000%, 11/20/40		577,757		601,831
4.000%, 12/20/40		2,168,411		2,258,691
4.000%, 01/20/41		1,902,269		1,981,433
4.000%, 02/20/41		33,536		34,931
4.000%, 07/20/43		179,872		187,290
4.000%, 08/20/44		733,825		763,584
4.000%, 10/20/46		161,261		167,004
4.000%, TBA (a)		69,837,500		72,078,831
4.500%, 12/20/39		76,629		80,686
4.500%, 01/20/40		95,621		100,683
4.500%, 02/20/40		75,024		78,996
4.500%, 05/20/40		5,103		5,372
4.500%, 09/20/48		913,770		959,431
4.500%, TBA (a)		24,254,500		25,187,138
5.000%, 10/20/33		796,766		859,729
5.000%, 10/20/39		269,172		287,910
5.000%, 07/20/42		340,769		364,372
5.000%, TBA (a)		8,793,000		9,180,788
Government National Mortgage Association (CMO) 0.573%, 06/16/53 (b) (c)		1,283,225		30,445
0.689%, 02/16/50 (b) (c)		1,760,132		79,566
0.727%, 03/16/55 (b) (c)		3,457,285		174,413
0.744%, 11/16/53 (b) (c)		1,058,106		36,405
0.791%, 09/16/51 (b) (c)		17,460,770		918,920
0.808%, 05/16/59 (b) (c)		3,054,837		207,003
0.825%, 08/16/41 (c)		3,055,764		42,862
0.870%, 11/16/55 (b) (c)		1,883,411		111,430
0.890%, 09/16/55 (b) (c)		2,147,561		141,477
0.907%, 06/16/58 (b) (c)		2,691,738		194,171
0.917%, 04/16/57 (b) (c)		3,900,441		251,560
0.926%, 08/15/58 (b) (c)		6,812,698		516,918
0.952%, 09/16/56 (b) (c)		1,354,853		105,925
0.965%, 02/16/58 (b) (c)		5,278,074		377,439
0.968%, 12/16/58 (b) (c)		3,241,828		254,728
0.997%, 09/16/58 (b) (c)		1,990,517		161,092
1.000%, 02/16/39 (c)		2,204,798		13,583
1.002%, 08/16/58 (b) (c)		3,781,102		284,914
1.032%, 05/16/58 (b) (c)		2,576,735		200,042
1.062%, 12/16/57 (b) (c)		3,714,104		294,268
1.121%, 04/16/58 (b) (c)		1,550,142		128,921
2.000%, 03/16/35		196,680		180,257
2.250%, 12/16/38		309,246		290,271
				1,193,965,401
U.S. Treasury—10.2%
U.S. Treasury Bonds 2.875%, 05/15/43		8,084,000		8,225,154
2.875%, 11/15/46		2,181,000		2,213,033
U.S. Treasury—(Continued)
U.S. Treasury Bonds
3.000%, 02/15/47		1,447,000		1,505,050
3.000%, 08/15/48 (d)		15,110,000		15,677,805
3.000%, 02/15/49		505,000		524,273
3.125%, 02/15/43 (d)		7,953,000		8,443,539
3.625%, 08/15/43		7,590,000		8,739,470
3.750%, 11/15/43		8,055,000		9,463,052
4.250%, 05/15/39		2,095,000		2,624,315
4.375%, 11/15/39		2,042,000		2,599,482
4.500%, 08/15/39		2,035,000		2,632,463
U.S. Treasury Notes 1.000%, 10/15/19		20,393,000		20,234,476
1.125%, 06/30/21		14,275,000		13,930,950
1.250%, 08/31/19		20,393,000		20,289,442
1.625%, 06/30/20		12,746,000		12,626,506
1.625%, 07/31/20		12,746,000		12,619,536
1.625%, 10/31/23		11,216,000		10,921,142
1.875%, 04/30/22		14,275,000		14,125,559
2.000%, 04/30/24		12,236,000		12,092,131
2.000%, 05/31/24		12,236,000		12,089,264
2.000%, 08/15/25		5,098,000		5,006,594
2.000%, 11/15/26		8,440,000		8,240,209
2.125%, 09/30/21		14,275,000		14,231,506
2.250%, 07/31/21		14,275,000		14,271,097
2.250%, 01/31/24		11,216,000		11,220,819
2.250%, 11/15/25		5,098,000		5,077,488
2.250%, 02/15/27 (d)		8,263,000		8,205,224
2.375%, 02/29/24		1,039,000		1,046,346
2.625%, 08/31/20		27,790,000		27,889,909
2.625%, 05/15/21		23,914,000		24,085,882
2.750%, 08/31/23		27,100,000		27,691,754
2.750%, 08/31/25		11,460,000		11,763,063
2.875%, 08/15/28		9,650,000		10,036,754
				360,343,287
Total U.S. Treasury & Government Agencies (Cost $1,549,707,231)				1,554,308,688
Corporate Bonds & Notes—38.2%
Advertising—0.0%
ACE03 MH1 B2 Zero Coupon, 08/15/30		619,669		470,948
Interpublic Group of Cos., Inc. (The) 3.500%, 10/01/20		495,000		499,327
3.750%, 10/01/21		265,000		269,659
				1,239,934
Aerospace/Defense—1.3%
BAE Systems Holdings, Inc.
2.850%, 12/15/20 (144A)		2,599,000		2,590,943
3.850%, 12/15/25 (144A)		1,765,000		1,784,255
4.750%, 10/07/44 (144A)		132,000		139,486

BHFTII-9

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Aerospace/Defense—(Continued)
Boeing Co. (The)
3.375%, 06/15/46		275,000	$	251,428
3.825%, 03/01/59		190,000		183,188
General Dynamics Corp. 3.750%, 05/15/28		1,015,000		1,070,305
Harris Corp.
2.700%, 04/27/20		706,000		703,418
4.400%, 06/15/28		2,865,000		3,015,827
5.054%, 04/27/45		1,115,000		1,231,947
L3 Technologies, Inc.
3.850%, 06/15/23		3,635,000		3,747,857
3.850%, 12/15/26		1,885,000		1,919,876
4.400%, 06/15/28		340,000		357,093
4.950%, 02/15/21		435,000		449,467
Lockheed Martin Corp.
2.900%, 03/01/25		670,000		668,419
3.550%, 01/15/26		815,000		841,421
3.600%, 03/01/35		5,290,000		5,235,956
3.800%, 03/01/45		675,000		666,639
4.070%, 12/15/42		1,720,000		1,753,960
Northrop Grumman Corp.
2.930%, 01/15/25		3,065,000		3,024,727
3.250%, 01/15/28		3,106,000		3,055,542
3.850%, 04/15/45		690,000		663,187
4.030%, 10/15/47		1,180,000		1,168,322
Raytheon Co. 7.200%, 08/15/27		530,000		683,995
United Technologies Corp.
1.950%, 11/01/21		3,825,000		3,747,399
4.125%, 11/16/28		3,645,000		3,798,823
4.150%, 05/15/45		251,000		244,681
4.500%, 06/01/42		2,485,000		2,569,675
				45,567,836
Agriculture—0.5%
Altria Group, Inc.
2.850%, 08/09/22		475,000		474,039
3.490%, 02/14/22		660,000		670,627
4.000%, 01/31/24		2,440,000		2,514,364
4.400%, 02/14/26		220,000		226,594
4.800%, 02/14/29		760,000		784,233
5.375%, 01/31/44		1,450,000		1,457,978
5.800%, 02/14/39		1,300,000		1,376,787
5.950%, 02/14/49		490,000		525,729
6.200%, 02/14/59		170,000		182,875
BAT International Finance plc 3.950%, 06/15/25 (144A)		2,625,000		2,632,289
Reynolds American, Inc.
4.450%, 06/12/25		5,615,000		5,769,172
5.850%, 08/15/45		68,000		69,861
				16,684,548
Airlines—0.8%
Air Canada Pass-Through Trust 3.300%, 01/15/30 (144A)		588,538		572,107
3.700%, 01/15/26 (144A)		9,511		9,211
5.000%, 12/15/23 (144A)		414,004		423,526
American Airlines Group, Inc. 4.625%, 03/01/20 (144A)		2,214,000		2,226,509
American Airlines Pass-Through Trust 3.000%, 10/15/28		1,158,249		1,120,250
3.350%, 10/15/29		547,765		535,327
3.600%, 09/22/27		231,639		232,033
3.650%, 02/15/29		246,600		247,865
3.700%, 05/01/23		231,440		228,501
3.700%, 10/15/25		479,471		468,177
3.750%, 10/15/25		24,614		24,144
4.375%, 10/01/22		21,061		21,168
4.400%, 09/22/23		1,831,698		1,845,252
4.950%, 02/15/25		205,566		211,529
5.250%, 01/15/24		1,085,211		1,119,025
Azul Investments LLP 5.875%, 10/26/24 (144A)		200,000		188,752
Delta Air Lines Pass-Through Trust 3.204%, 04/25/24		1,255,000		1,274,452
Delta Air Lines, Inc. 2.600%, 12/04/20		3,005,000		2,986,314
2.875%, 03/13/20		8,220,000		8,204,994
3.400%, 04/19/21		265,000		266,126
Gol Finance, Inc. 7.000%, 01/31/25 (144A) (e)		923,000		854,929
Latam Finance, Ltd. 7.000%, 03/01/26 (144A)		561,000		569,976
Turkish Airlines Pass-Through Trust 4.200%, 03/15/27 (144A)		1,021,272		896,575
U.S. Airways Pass-Through Trust 5.375%, 11/15/21		161,384		166,490
6.750%, 06/03/21		43,351		45,529
United Airlines Pass-Through Trust 2.875%, 10/07/28		332,445		318,616
3.100%, 07/07/28		80,114		78,298
3.450%, 12/01/27		189,011		188,047
3.500%, 03/01/30		265,300		261,763
3.650%, 10/07/25		77,720		76,745
3.650%, 01/07/26		90,521		89,405
4.150%, 08/25/31		765,000		792,560
4.600%, 03/01/26		575,073		584,091
4.625%, 09/03/22		81,377		82,614
4.750%, 04/11/22		315,357		320,371
				27,531,271
Auto Manufacturers—1.9%
Daimler Finance North America LLC 2.300%, 02/12/21 (144A)		1,015,000		1,002,821
3.100%, 05/04/20 (144A)		3,130,000		3,135,849
3.350%, 05/04/21 (144A)		3,770,000		3,793,346
3.750%, 11/05/21 (144A)		890,000		905,630

BHFTII-10

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—(Continued)
Ford Motor Credit Co. LLC 2.979%, 08/03/22		2,125,000	$	2,031,642
3.096%, 05/04/23		1,930,000		1,810,618
3.157%, 08/04/20		500,000		496,513
3.200%, 01/15/21		1,310,000		1,291,398
3.219%, 01/09/22		9,970,000		9,693,352
3.336%, 03/18/21		205,000		201,909
5.750%, 02/01/21		2,714,000		2,795,389
General Motors Co. 5.000%, 04/01/35		370,000		336,060
5.400%, 04/01/48		300,000		275,253
6.250%, 10/02/43		250,000		250,174
General Motors Financial Co., Inc. 3.150%, 06/30/22		4,710,000		4,664,812
3.200%, 07/06/21		6,650,000		6,622,044
4.000%, 01/15/25		2,576,000		2,528,618
4.000%, 10/06/26		390,000		373,877
4.200%, 03/01/21		815,000		826,773
4.200%, 11/06/21		2,800,000		2,853,448
Hyundai Capital America 2.550%, 04/03/20 (144A)		8,645,000		8,583,521
3.950%, 02/01/22 (144A)		965,000		978,795
Hyundai Capital Services, Inc. 3.000%, 08/29/22 (144A)		1,220,000		1,206,148
Toyota Motor Credit Corp. 3.050%, 01/11/28 (e)		950,000		949,902
3.650%, 01/08/29		535,000		558,662
Volkswagen Group of America Finance LLC 2.400%, 05/22/20 (144A)		2,000,000		1,986,072
3.875%, 11/13/20 (144A)		3,075,000		3,113,234
4.000%, 11/12/21 (144A)		3,215,000		3,280,539
				66,546,399
Auto Parts & Equipment—0.1%
Aptiv plc 4.250%, 01/15/26		364,000		375,255
ZF North America Capital, Inc. 4.750%, 04/29/25 (144A)		3,053,000		2,967,014
				3,342,269
Banks—10.5%
ABN AMRO Bank NV 2.650%, 01/19/21 (144A)		2,590,000		2,581,766
Banco Espirito Santo S.A. 4.000%, 01/21/19 (EUR) (f) (g)		200,000		62,818
Banco Mercantil del Norte S.A. 6.875%, 5Y H15 + 5.035%, 07/06/22 (144A) (b)		251,000		249,434
7.625%, 10Y H15 + 5.353%, 01/10/28 (144A) (b)		251,000		251,000
Banco Santander S.A. 3.848%, 04/12/23		2,000,000		2,017,911
Bank of America Corp. 2.328%, 3M LIBOR + 0.630%, 10/01/21 (b)		11,882,000		11,772,923
2.369%, 3M LIBOR + 0.660%, 07/21/21 (b)		3,945,000		3,919,039
2.625%, 10/19/20		1,475,000		1,471,511
3.300%, 01/11/23		640,000		648,395
Banks—(Continued)
Bank of America Corp.
3.366%, 3M LIBOR + 0.810%, 01/23/26 (b)		1,180,000		1,181,618
3.419%, 3M LIBOR + 1.040%, 12/20/28 (b)		7,700,000		7,536,392
3.458%, 3M LIBOR + 0.970%, 03/15/25 (b) (e)		1,090,000		1,101,435
3.499%, 3M LIBOR + 0.630%, 05/17/22 (b)		2,350,000		2,378,944
3.500%, 04/19/26		510,000		515,587
3.705%, 3M LIBOR + 1.512%, 04/24/28 (b)		3,515,000		3,533,771
3.824%, 3M LIBOR + 1.575%, 01/20/28 (b)		3,775,000		3,830,454
3.875%, 08/01/25		2,840,000		2,942,382
3.950%, 04/21/25		744,000		758,210
3.970%, 3M LIBOR + 1.070%, 03/05/29 (b)		520,000		531,053
4.183%, 11/25/27		955,000		971,320
4.200%, 08/26/24		1,598,000		1,654,823
4.450%, 03/03/26		2,978,000		3,105,244
5.875%, 3M LIBOR + 2.931%, 03/15/28 (b)		435,000		441,373
Bank of New York Mellon Corp. (The) 4.625%, 3M LIBOR + 3.131%, 09/20/26 (b)		2,405,000		2,272,725
Barclays plc 4.950%, 01/10/47		1,061,000		1,063,117
4.972%, 3M LIBOR + 1.902%, 05/16/29 (b)		2,460,000		2,545,229
BNP Paribas S.A. 2.950%, 05/23/22 (144A)		4,050,000		4,024,451
3.800%, 01/10/24 (144A)		400,000		403,360
4.705%, 3M LIBOR + 2.235%, 01/10/25 (144A) (b)		965,000		1,003,664
7.375%, 5Y USD ICE Swap + 5.150%, 08/19/25 (144A) (b)		595,000		631,444
Citibank N.A. 3.400%, 07/23/21 (e)		3,390,000		3,434,800
3.650%, 01/23/24 (e)		6,845,000		7,065,864
Citigroup, Inc. 2.500%, 07/29/19		3,634,000		3,632,152
2.876%, 3M LIBOR + 0.950%, 07/24/23 (b)		1,535,000		1,525,733
2.900%, 12/08/21		5,235,000		5,231,669
3.200%, 10/21/26		4,730,000		4,636,537
3.668%, 3M LIBOR + 1.390%, 07/24/28 (b)		4,270,000		4,263,318
3.887%, 3M LIBOR + 1.563%, 01/10/28 (b)		1,590,000		1,615,954
4.400%, 06/10/25		1,530,000		1,584,997
4.450%, 09/29/27		500,000		514,353
Citizens Bank N.A. 2.250%, 03/02/20		6,026,000		5,997,645
2.650%, 05/26/22		4,875,000		4,835,497
Cooperative Rabobank UA 11.000%, 3M LIBOR + 10.868%, 06/30/19 (144A) (b)		1,930,000		1,966,187
Credit Suisse Group AG 2.997%, 3M LIBOR + 1.200%, 12/14/23 (144A) (b)		3,250,000		3,194,704
4.207%, 3M LIBOR + 1.240%, 06/12/24 (144A) (b)		2,265,000		2,321,273
7.250%, 5Y USD ICE Swap + 4.332%, 09/12/25 (144A) (b)		2,035,000		2,042,631
Credit Suisse Group Funding Guernsey, Ltd. 2.750%, 03/26/20		4,269,000		4,263,243
3.125%, 12/10/20		8,102,000		8,128,877
3.800%, 09/15/22		1,500,000		1,528,589
Danske Bank A/S 5.000%, 01/12/22 (144A)		2,490,000		2,550,037
5.375%, 01/12/24 (144A)		2,330,000		2,424,205
Deutsche Bank AG 2.700%, 07/13/20		3,815,000		3,774,001
2.950%, 08/20/20 (e)		1,874,000		1,857,898

BHFTII-11

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Deutsche Bank AG
4.250%, 02/04/21		4,445,000	$	4,462,696
4.250%, 10/14/21		1,040,000		1,045,232
Discover Bank 4.650%, 09/13/28 (e)		440,000		460,973
Fifth Third Bancorp 2.250%, 06/14/21		3,062,000		3,029,942
3.650%, 01/25/24		2,700,000		2,766,465
Goldman Sachs Group, Inc. (The) 2.000%, 04/25/19		950,000		949,540
2.350%, 11/15/21		4,120,000		4,057,291
2.550%, 10/23/19		4,660,000		4,653,045
2.750%, 09/15/20		1,326,000		1,324,381
3.691%, 3M LIBOR + 1.510%, 06/05/28 (b) (e)		4,245,000		4,203,253
3.850%, 01/26/27		1,800,000		1,808,354
3.854%, 3M LIBOR + 1.170%, 05/15/26 (b)		1,310,000		1,285,059
4.017%, 3M LIBOR + 1.373%, 10/31/38 (b)		1,370,000		1,313,702
4.223%, 3M LIBOR + 1.301%, 05/01/29 (b)		2,935,000		3,003,566
HSBC Holdings plc 2.650%, 01/05/22		3,200,000		3,172,183
3.950%, 3M LIBOR + 0.987%, 05/18/24 (b)		1,525,000		1,556,190
4.041%, 3M LIBOR + 1.546%, 03/13/28 (b)		3,550,000		3,580,125
5.100%, 04/05/21		1,600,000		1,667,811
6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (b)		3,575,000		3,544,612
HSBC USA, Inc. 2.350%, 03/05/20		4,175,000		4,162,805
ING Bank NV 5.800%, 09/25/23 (144A)		1,460,000		1,579,497
ING Groep NV 4.100%, 10/02/23		3,815,000		3,923,058
Intesa Sanpaolo S.p.A. 6.500%, 02/24/21 (144A)		800,000		838,718
Itau Unibanco Holding S.A. 6.125%, 5Y H15 + 3.981%, 12/12/22 (144A) (b)		400,000		392,680
6.500%, 5Y H15 + 3.863%, 03/19/23 (144A) (b)		200,000		197,502
JPMorgan Chase & Co. 2.550%, 03/01/21		1,969,000		1,963,302
2.972%, 01/15/23		1,474,000		1,474,001
3.514%, 3M LIBOR + 0.610%, 06/18/22 (b)		2,730,000		2,768,565
3.540%, 3M LIBOR + 1.380%, 05/01/28 (b)		5,985,000		5,994,272
3.559%, 3M LIBOR + 0.730%, 04/23/24 (b)		725,000		737,696
3.782%, 3M LIBOR + 1.337%, 02/01/28 (b)		3,610,000		3,680,597
3.797%, 3M LIBOR + 0.890%, 07/23/24 (b)		3,998,000		4,107,019
3.882%, 3M LIBOR + 1.360%, 07/24/38 (b)		3,100,000		3,047,049
4.023%, 3M LIBOR + 1.000%, 12/05/24 (b)		6,635,000		6,888,161
4.203%, 3M LIBOR + 1.260%, 07/23/29 (b)		2,210,000		2,307,610
4.452%, 3M LIBOR + 1.330%, 12/05/29 (b)		2,450,000		2,615,866
4.625%, 05/10/21		1,708,000		1,772,160
KeyBank N.A. 3.350%, 06/15/21		440,000		446,703
KeyCorp 4.150%, 10/29/25		890,000		937,561
Lloyds Banking Group plc 3.750%, 01/11/27		1,715,000		1,688,105
4.450%, 05/08/25		1,010,000		1,048,923
Banks—(Continued)
Mitsubishi UFJ Financial Group, Inc. 2.998%, 02/22/22		256,000		256,610
3.455%, 03/02/23		8,320,000		8,437,516
3.535%, 07/26/21		265,000		268,804
Mizuho Financial Group, Inc. 2.273%, 09/13/21		942,000		926,074
2.953%, 02/28/22		10,305,000		10,303,772
Morgan Stanley 2.750%, 05/19/22		4,900,000		4,871,972
3.591%, 3M LIBOR + 1.340%, 07/22/28 (b)		5,530,000		5,493,036
3.625%, 01/20/27 (e)		6,130,000		6,144,794
3.772%, 3M LIBOR + 1.140%, 01/24/29 (b) (e)		6,560,000		6,603,515
4.431%, 3M LIBOR + 1.628%, 01/23/30 (b)		1,010,000		1,066,051
6.250%, 08/09/26		1,661,000		1,925,321
Nordea Bank Abp 2.125%, 05/29/20 (144A) (e)		2,810,000		2,790,041
3.750%, 08/30/23 (144A)		2,920,000		2,943,786
6.625%, 5Y H15 + 4.110%, 03/26/26 (144A) (b)		1,255,000		1,251,863
Northern Trust Corp. 3.375%, 3M LIBOR + 1.131%, 05/08/32 (b)		1,630,000		1,598,503
Royal Bank of Scotland Group plc 3.498%, 3M LIBOR + 1.480%, 05/15/23 (b)		1,370,000		1,360,737
4.892%, 3M LIBOR + 1.754%, 05/18/29 (b)		310,000		322,029
5.076%, 3M LIBOR + 1.905%, 01/27/30 (b)		315,000		331,760
Santander UK Group Holdings plc 2.875%, 08/05/21		4,355,000		4,317,460
Santander UK plc 5.000%, 11/07/23 (144A)		3,760,000		3,850,112
Standard Chartered plc 4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (b)		4,865,000		4,942,251
State Street Corp. 2.650%, 05/19/26		1,246,000		1,219,580
5.625%, 3M LIBOR + 2.539%, 12/15/23 (b) (e)		2,815,000		2,836,112
Sumitomo Mitsui Trust Bank, Ltd. 1.950%, 09/19/19 (144A)		5,465,000		5,443,074
SunTrust Banks, Inc. 4.000%, 05/01/25		610,000		638,616
Synchrony Bank 3.650%, 05/24/21		2,600,000		2,624,402
Toronto-Dominion Bank (The) 3.500%, 07/19/23		1,020,000		1,049,047
U.S. Bancorp 2.950%, 07/15/22		1,825,000		1,831,544
U.S. Bank N.A. 3.104%, 3M LIBOR + 0.290%, 05/21/21 (b)		1,050,000		1,054,354
UBS Group Funding Switzerland AG 2.859%, 3M LIBOR + 0.954%, 08/15/23 (144A) (b)		3,575,000		3,523,305
2.950%, 09/24/20 (144A)		4,195,000		4,194,118
4.125%, 09/24/25 (144A) (e)		2,330,000		2,407,168
7.000%, 5Y USD ICE Swap + 4.344%, 01/31/24 (144A) (b)		3,070,000		3,116,142
UniCredit S.p.A. 6.572%, 01/14/22 (144A)		6,345,000		6,648,062
Wells Fargo & Co. 2.500%, 03/04/21		4,185,000		4,165,362
2.600%, 07/22/20		1,285,000		1,283,184

BHFTII-12

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Wells Fargo & Co.
2.625%, 07/22/22		2,945,000	$	2,924,142
3.500%, 03/08/22		1,340,000		1,365,740
3.584%, 3M LIBOR + 1.310%, 05/22/28 (b)		2,310,000		2,321,817
3.750%, 01/24/24		6,530,000		6,722,273
Wells Fargo Bank N.A. 3.325%, 3M LIBOR + 0.490%, 07/23/21 (b)		350,000		352,333
3.550%, 08/14/23		2,815,000		2,891,688
				372,865,897
Beverages—0.5%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 4.700%, 02/01/36 (144A)		7,045,000		7,047,779
4.900%, 02/01/46 (144A)		1,650,000		1,658,103
Anheuser-Busch InBev Worldwide, Inc. 4.750%, 01/23/29		4,260,000		4,536,155
Keurig Dr Pepper, Inc. 3.551%, 05/25/21 (144A)		840,000		849,151
4.057%, 05/25/23 (144A)		1,227,000		1,262,597
PepsiCo, Inc. 4.000%, 05/02/47 (e)		925,000		968,308
				16,322,093
Biotechnology—0.3%
Amgen, Inc. 4.400%, 05/01/45		1,323,000		1,304,596
Baxalta, Inc. 5.250%, 06/23/45		268,000		294,153
Celgene Corp. 2.750%, 02/15/23		1,465,000		1,451,532
3.250%, 08/15/22		1,160,000		1,172,265
3.250%, 02/20/23		1,910,000		1,927,423
3.550%, 08/15/22		1,130,000		1,154,257
3.950%, 10/15/20		240,000		244,202
Gilead Sciences, Inc. 3.500%, 02/01/25		2,205,000		2,250,290
4.000%, 09/01/36		755,000		742,077
4.600%, 09/01/35		1,190,000		1,254,635
				11,795,430
Building Materials—0.1%
Holcim US Finance Sarl & Cie SCS 5.150%, 09/12/23 (144A)		1,290,000		1,360,617
Johnson Controls International plc 5.125%, 09/14/45		500,000		522,679
				1,883,296
Chemicals—0.4%
Air Liquide Finance S.A. 2.500%, 09/27/26 (144A)		560,000		532,445
Cydsa S.A.B. de C.V. 6.250%, 10/04/27 (144A) (e)		840,000		803,258
Chemicals—(Continued)
Dow Chemical Co. (The) 4.375%, 11/15/42		1,035,000		989,272
4.550%, 11/30/25 (144A)		230,000		242,854
9.000%, 04/01/21		1,125,000		1,247,714
DowDuPont, Inc. 4.493%, 11/15/25		5,270,000		5,617,978
5.419%, 11/15/48		2,550,000		2,895,473
Eurochem Finance DAC 5.500%, 03/13/24 (144A)		372,000		375,021
SABIC Capital II B.V. 4.000%, 10/10/23 (144A)		527,000		537,540
Sherwin-Williams Co. (The) 4.000%, 12/15/42		240,000		216,974
4.500%, 06/01/47		565,000		557,751
				14,016,280
Commercial Services—0.3%
CommonSpirit Health 4.350%, 11/01/42		550,000		528,837
George Washington University (The) 4.126%, 09/15/48		1,328,000		1,394,771
RELX Capital, Inc. 3.500%, 03/16/23		2,215,000		2,245,143
4.000%, 03/18/29		1,160,000		1,181,777
S&P Global, Inc. 4.000%, 06/15/25		300,000		315,882
Total System Services, Inc. 3.750%, 06/01/23		595,000		604,272
3.800%, 04/01/21		550,000		558,499
4.800%, 04/01/26		2,815,000		2,959,604
University of Notre Dame du Lac 3.394%, 02/15/48		800,000		781,476
University of Southern California 3.028%, 10/01/39		115,000		108,173
Wesleyan University 4.781%, 07/01/2116		938,000		990,898
				11,669,332
Computers—0.4%
Apple, Inc. 2.700%, 05/13/22		1,490,000		1,498,734
3.000%, 02/09/24		1,525,000		1,546,570
3.450%, 02/09/45		683,000		651,434
3.850%, 05/04/43		3,661,000		3,703,882
4.500%, 02/23/36		280,000		313,915
Dell International LLC / EMC Corp. 4.420%, 06/15/21 (144A)		1,055,000		1,082,553
4.900%, 10/01/26 (144A)		2,300,000		2,342,187
8.350%, 07/15/46 (144A)		66,000		79,774
DXC Technology Co. 2.875%, 03/27/20		1,279,000		1,278,212
IBM Credit LLC 3.450%, 11/30/20		1,370,000		1,386,463
International Business Machines Corp. 2.900%, 11/01/21		592,000		594,851

BHFTII-13

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—(Continued)
Seagate HDD Cayman 4.250%, 03/01/22		665,000	$	667,007
				15,145,582
Diversified Financial Services—0.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.500%, 05/15/21		915,000		934,900
4.625%, 10/30/20		2,950,000		3,020,033
American Express Co. 2.500%, 08/01/22		1,645,000		1,626,340
3.700%, 08/03/23		1,295,000		1,327,681
4.200%, 11/06/25		1,850,000		1,957,689
American Express Credit Corp. 2.250%, 08/15/19		1,959,000		1,955,894
Capital One Financial Corp. 2.400%, 10/30/20		2,166,000		2,153,875
3.450%, 04/30/21		620,000		627,625
3.750%, 03/09/27		680,000		669,448
3.900%, 01/29/24		3,410,000		3,486,251
Charles Schwab Corp. (The) 3.200%, 03/02/27		1,275,000		1,283,443
CME Group, Inc. 3.750%, 06/15/28		85,000		89,481
Credivalores-Crediservicios SAS 9.750%, 07/27/22 (144A)		655,000		627,163
Discover Financial Services 4.100%, 02/09/27		383,000		383,177
GE Capital International Funding Co. 4.418%, 11/15/35		3,000,000		2,779,960
Intercontinental Exchange, Inc. 3.750%, 12/01/25		580,000		602,654
3.750%, 09/21/28		1,350,000		1,399,864
4.000%, 10/15/23		1,495,000		1,569,199
Synchrony Financial
2.700%, 02/03/20		1,079,000		1,077,571
4.375%, 03/19/24		440,000		445,902
Tarjeta Naranja S.A. 48.813%, BADLAR + 3.500%, 04/11/22 (144A) (b)		1,016,000		334,393
Unifin Financiera S.A.B. de C.V. 7.250%, 09/27/23 (144A)		251,000		252,885
Visa, Inc.
3.150%, 12/14/25		1,300,000		1,322,901
4.150%, 12/14/35		876,000		956,116
4.300%, 12/14/45		645,000		713,127
				31,597,572
Electric—1.9%
AEP Texas, Inc. 3.950%, 06/01/28		2,490,000		2,596,556
AEP Transmission Co. LLC 4.250%, 09/15/48		1,400,000		1,488,542
AES Panama SRL 6.000%, 06/25/22 (144A)		213,000		219,923
Electric—(Continued)
Alabama Power Co.
3.750%, 03/01/45		190,000		184,251
4.150%, 08/15/44		240,000		248,252
4.300%, 07/15/48		1,335,000		1,418,149
Alliant Energy Finance LLC 3.750%, 06/15/23 (144A)		525,000		535,658
Ameren Illinois Co. 3.800%, 05/15/28		1,090,000		1,146,264
Baltimore Gas & Electric Co.
3.500%, 08/15/46		805,000		758,340
3.750%, 08/15/47		715,000		692,053
4.250%, 09/15/48		680,000		716,064
CenterPoint Energy Houston Electric LLC
3.550%, 08/01/42		560,000		542,094
3.950%, 03/01/48		440,000		451,501
Consumers Energy Co. 4.050%, 05/15/48		390,000		413,324
DTE Electric Co. 4.050%, 05/15/48		1,745,000		1,822,646
DTE Energy Co. 3.700%, 08/01/23		820,000		839,843
Duke Energy Carolinas LLC
3.700%, 12/01/47		715,000		702,083
3.875%, 03/15/46		385,000		388,437
3.950%, 11/15/28		1,625,000		1,731,992
Duke Energy Florida LLC
3.800%, 07/15/28		815,000		851,644
4.200%, 07/15/48		570,000		600,548
6.400%, 06/15/38		915,000		1,227,289
Duke Energy Progress LLC
3.000%, 09/15/21		480,000		483,752
3.250%, 08/15/25		1,145,000		1,171,188
3.700%, 09/01/28		2,905,000		3,033,134
Emera U.S. Finance L.P. 2.150%, 06/15/19		2,058,000		2,053,960
Entergy Corp. 2.950%, 09/01/26		350,000		336,574
Entergy Louisiana LLC
4.200%, 09/01/48		1,570,000		1,635,966
5.400%, 11/01/24		405,000		455,794
Eskom Holdings SOC, Ltd. 5.750%, 01/26/21 (144A)		720,000		709,697
6.750%, 08/06/23 (144A) (e)		628,000		619,385
7.125%, 02/11/25 (144A)		200,000		197,511
Exelon Corp. 2.450%, 04/15/21		549,000		542,720
4.450%, 04/15/46		1,600,000		1,651,902
4.950%, 06/15/35		501,000		532,624
FirstEnergy Transmission LLC 4.350%, 01/15/25 (144A)		3,915,000		4,088,467
Florida Power & Light Co. 3.950%, 03/01/48		1,278,000		1,335,446
4.125%, 06/01/48		1,320,000		1,413,737
Generacion Mediterranea S.A. / Generacion Frias S.A. / Central Termica Roca S.A. 9.625%, 07/27/23 (144A)		514,000		436,900

BHFTII-14

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Inkia Energy, Ltd. 5.875%, 11/09/27 (144A) (e)		349,000	$	340,715
Kansas City Power & Light Co. 4.200%, 03/15/48		1,350,000		1,404,677
Mid-Atlantic Interstate Transmission LLC 4.100%, 05/15/28 (144A)		575,000		590,266
MidAmerican Energy Co. 4.400%, 10/15/44		837,000		915,216
Northern States Power Co. 3.400%, 08/15/42		1,370,000		1,303,763
4.000%, 08/15/45		780,000		803,237
4.200%, 09/01/48		630,000		647,329
Ohio Power Co. 6.600%, 02/15/33		955,000		1,230,983
Oncor Electric Delivery Co. LLC 4.550%, 12/01/41		970,000		1,078,287
Orazul Energy Egenor S. en C. por A. 5.625%, 04/28/27 (144A)		549,000		538,020
PacifiCorp 4.125%, 01/15/49		475,000		491,964
Public Service Electric & Gas Co. 3.650%, 09/01/28		1,780,000		1,847,570
Southwestern Electric Power Co. 4.100%, 09/15/28		910,000		947,058
Stoneway Capital Corp. 10.000%, 03/01/27 (144A)		1,189,274		1,150,623
10.000%, 03/01/27		609,908		590,086
Tampa Electric Co. 2.600%, 09/15/22		700,000		695,360
4.300%, 06/15/48		260,000		261,714
4.450%, 06/15/49		680,000		703,252
Trans-Allegheny Interstate Line Co. 3.850%, 06/01/25 (144A)		1,975,000		2,019,933
Union Electric Co. 3.500%, 03/15/29		1,050,000		1,077,465
Virginia Electric & Power Co. 2.750%, 03/15/23		2,130,000		2,126,143
3.500%, 03/15/27		2,495,000		2,542,616
4.000%, 01/15/43		1,650,000		1,654,454
4.000%, 11/15/46		1,050,000		1,055,690
4.200%, 05/15/45		250,000		257,186
4.450%, 02/15/44		287,000		304,811
4.600%, 12/01/48		160,000		176,961
WEC Energy Group, Inc. 3.375%, 06/15/21		390,000		394,676
				67,424,265
Electronics—0.1%
Amphenol Corp. 4.350%, 06/01/29		520,000		550,256
Honeywell International, Inc. 3.812%, 11/21/47		495,000		504,130
Tyco Electronics Group S.A. 3.125%, 08/15/27		645,000		626,109
3.450%, 08/01/24		300,000		304,103
				1,984,598
Engineering & Construction—0.0%
Aeropuertos Dominicanos Siglo S.A. 6.750%, 03/30/29 (144A)		279,000		285,626
Environmental Control—0.2%
Republic Services, Inc. 2.900%, 07/01/26		750,000		734,572
3.950%, 05/15/28		1,635,000		1,713,569
4.750%, 05/15/23		1,484,000		1,582,638
Waste Management, Inc. 3.125%, 03/01/25		280,000		282,009
3.900%, 03/01/35		967,000		970,341
				5,283,129
Food—0.3%
Campbell Soup Co. 8.875%, 05/01/21		680,000		751,491
Conagra Brands, Inc. 3.800%, 10/22/21		455,000		463,446
General Mills, Inc. 3.200%, 04/16/21		890,000		897,865
4.000%, 04/17/25		983,000		1,017,769
Kroger Co. (The) 2.650%, 10/15/26		2,415,000		2,224,571
Marfrig Holdings Europe B.V. 8.000%, 06/08/23 (144A)		512,000		528,000
Tyson Foods, Inc. 3.550%, 06/02/27		1,420,000		1,397,240
3.900%, 09/28/23		225,000		231,900
3.950%, 08/15/24		1,745,000		1,797,924
5.100%, 09/28/48		200,000		203,924
				9,514,130
Forest Products & Paper—0.2%
Eldorado Intl. Finance GmbH 8.625%, 06/16/21 (144A)		609,000		635,041
Georgia-Pacific LLC 3.734%, 07/15/23 (144A)		1,071,000		1,099,383
5.400%, 11/01/20 (144A)		935,000		972,065
7.375%, 12/01/25		160,000		196,321
7.750%, 11/15/29		350,000		475,993
International Paper Co. 6.000%, 11/15/41		1,100,000		1,230,842
Klabin Finance S.A. 4.875%, 09/19/27 (144A)		1,024,000		993,280
Suzano Austria GmbH 6.000%, 01/15/29 (144A)		881,000		938,450
				6,541,375
Gas—0.1%
Atmos Energy Corp. 4.125%, 03/15/49		380,000		394,107
NiSource, Inc.
2.650%, 11/17/22		240,000		236,400
3.490%, 05/15/27		1,825,000		1,822,043
				2,452,550

BHFTII-15

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—0.8%
Abbott Laboratories
3.400%, 11/30/23		350,000	$	357,363
3.750%, 11/30/26		5,409,000		5,620,131
Baxter International, Inc. 1.700%, 08/15/21		140,000		136,293
Becton Dickinson & Co.
2.133%, 06/06/19		1,630,000		1,627,899
2.675%, 12/15/19		3,000,000		2,990,302
2.894%, 06/06/22		3,240,000		3,222,968
3.300%, 03/01/23		1,420,000		1,406,486
4.685%, 12/15/44		367,000		379,295
Covidien International Finance S.A. 2.950%, 06/15/23		870,000		877,836
Edwards Lifesciences Corp. 4.300%, 06/15/28		485,000		509,111
Medtronic, Inc.
3.500%, 03/15/25		1,650,000		1,703,901
4.375%, 03/15/35		3,410,000		3,725,955
Thermo Fisher Scientific, Inc.
2.950%, 09/19/26		2,425,000		2,338,849
3.000%, 04/15/23		860,000		862,278
4.150%, 02/01/24		1,995,000		2,085,843
4.500%, 03/01/21		1,720,000		1,776,301
				29,620,811
Healthcare-Services—0.9%
Aetna, Inc.
4.125%, 11/15/42		475,000		426,333
4.500%, 05/15/42		881,000		835,014
4.750%, 03/15/44		690,000		674,590
AHS Hospital Corp. 5.024%, 07/01/45		490,000		574,669
Anthem, Inc.
3.500%, 08/15/24		175,000		177,284
4.101%, 03/01/28		555,000		571,792
Baylor Scott & White Holdings 4.185%, 11/15/45		775,000		805,679
Cigna Holding Co. 3.250%, 04/15/25		2,002,000		1,985,141
Dignity Health 2.637%, 11/01/19		760,000		759,627
HCA, Inc. 4.750%, 05/01/23		850,000		892,243
5.000%, 03/15/24		1,220,000		1,291,847
5.250%, 04/15/25		3,100,000		3,322,952
5.875%, 03/15/22		1,990,000		2,137,877
Kaiser Foundation Hospitals 3.500%, 04/01/22		837,000		860,260
4.150%, 05/01/47		245,000		259,210
Laboratory Corp. of America Holdings 2.625%, 02/01/20		1,583,000		1,579,617
Mercy Health 4.302%, 07/01/28		354,000		381,124
Montefiore Obligated Group 5.246%, 11/01/48		1,089,000		1,139,749
Healthcare-Services—(Continued)
Ochsner Clinic Foundation 5.897%, 05/15/45		638,000		801,270
PeaceHealth Obligated Group 4.787%, 11/15/48		290,000		331,469
Providence St Joseph Health Obligated Group 3.930%, 10/01/48		887,000		891,701
Southern Baptist Hospital of Florida, Inc. 4.857%, 07/15/45		650,000		736,389
SSM Health Care Corp. 3.688%, 06/01/23		953,000		978,096
Sutter Health 3.695%, 08/15/28		1,045,000		1,091,297
Trinity Health Corp. 4.125%, 12/01/45		502,000		507,270
UnitedHealth Group, Inc. 3.100%, 03/15/26		590,000		589,716
3.700%, 12/15/25		1,055,000		1,095,173
3.750%, 07/15/25		4,500,000		4,700,318
3.750%, 10/15/47		1,050,000		1,021,804
3.850%, 06/15/28		450,000		471,396
4.450%, 12/15/48		335,000		364,849
4.625%, 07/15/35		377,000		423,466
4.625%, 11/15/41		790,000		866,280
				33,545,502
Holding Companies-Diversified—0.0%
Grupo KUO S.A.B. de C.V. 5.750%, 07/07/27 (144A)		1,068,000		1,030,620
KOC Holding A/S 6.500%, 03/11/25 (144A)		628,000		606,045
				1,636,665
Household Products/Wares—0.0%
Controladora Mabe S.A. de C.V. 5.600%, 10/23/28 (144A) (e)		421,000		427,315
Insurance—0.6%
Ambac Assurance Corp. 5.100%, 06/07/20 (144A)		162,922		228,905
Ambac LSNI LLC 7.592%, 3M LIBOR + 5.000%, 02/12/23 (144A) (b)		995,826		1,003,295
Aon Corp. 4.500%, 12/15/28		2,285,000		2,419,879
Aon plc 4.750%, 05/15/45		325,000		338,229
AXA Equitable Holdings, Inc.
3.900%, 04/20/23		260,000		266,454
5.000%, 04/20/48		780,000		762,405
Berkshire Hathaway Finance Corp. 4.250%, 01/15/49		160,000		167,624
Hartford Financial Services Group, Inc. (The) 4.300%, 04/15/43		325,000		324,624
Marsh & McLennan Cos., Inc. 3.500%, 06/03/24		2,605,000		2,657,301
3.500%, 03/10/25		880,000		903,387

BHFTII-16

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Marsh & McLennan Cos., Inc.
3.750%, 03/14/26		39,000	$	40,222
3.875%, 03/15/24 (e)		2,590,000		2,688,501
4.050%, 10/15/23		680,000		707,423
4.200%, 03/01/48		1,215,000		1,207,620
4.350%, 01/30/47		191,000		193,948
Prudential Financial, Inc. 3.878%, 03/27/28		1,790,000		1,882,478
Travelers Cos., Inc. (The) 4.600%, 08/01/43		810,000		900,905
Trinity Acquisition plc 4.400%, 03/15/26		515,000		534,734
Willis North America, Inc. 3.600%, 05/15/24		2,565,000		2,582,725
				19,810,659
Internet—0.1%
Alibaba Group Holding, Ltd. 3.600%, 11/28/24		1,400,000		1,435,849
Baidu, Inc. 4.375%, 05/14/24		915,000		948,641
				2,384,490
Iron/Steel—0.1%
Evraz plc 5.250%, 04/02/24 (144A)		488,000		487,819
Nucor Corp. 5.200%, 08/01/43		585,000		666,955
Steel Dynamics, Inc. 5.125%, 10/01/21		1,086,000		1,095,502
Vale Overseas, Ltd. 4.375%, 01/11/22 (e)		409,000		416,976
				2,667,252
Media—1.7%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 3.579%, 07/23/20		6,710,000		6,759,453
4.500%, 02/01/24		2,115,000		2,203,201
4.908%, 07/23/25		2,902,000		3,060,169
6.384%, 10/23/35		3,898,000		4,353,918
6.484%, 10/23/45		1,940,000		2,176,698
Comcast Corp. 2.350%, 01/15/27		215,000		200,977
3.150%, 03/01/26		2,980,000		2,967,168
3.200%, 07/15/36		4,806,000		4,369,975
3.300%, 10/01/20		4,085,000		4,123,977
3.375%, 02/15/25		290,000		295,570
3.400%, 07/15/46		1,575,000		1,397,896
4.150%, 10/15/28 (e)		1,040,000		1,096,465
4.250%, 10/15/30		920,000		978,480
4.400%, 08/15/35		1,001,000		1,046,625
4.950%, 10/15/58		785,000		867,479
Media—(Continued)
COX Communications, Inc. 3.150%, 08/15/24 (144A)		3,929,000		3,913,421
3.350%, 09/15/26 (144A)		241,000		235,033
Discovery Communications LLC 3.800%, 03/13/24		1,616,000		1,629,956
4.375%, 06/15/21		1,370,000		1,408,847
5.200%, 09/20/47		435,000		423,568
Fox Corp. 4.030%, 01/25/24 (144A)		590,000		612,231
4.709%, 01/25/29 (144A)		985,000		1,054,583
NBCUniversal Media LLC 4.450%, 01/15/43		915,000		949,336
5.950%, 04/01/41		920,000		1,133,034
Time Warner Cable LLC 4.125%, 02/15/21		2,130,000		2,163,548
4.500%, 09/15/42		161,000		141,240
5.000%, 02/01/20		1,055,000		1,072,487
5.500%, 09/01/41		588,000		582,007
Viacom, Inc. 6.875%, 04/30/36		850,000		998,618
Warner Media LLC 2.100%, 06/01/19		3,352,000		3,347,379
3.600%, 07/15/25		820,000		819,520
4.650%, 06/01/44		440,000		425,382
4.850%, 07/15/45 (e)		1,980,000		1,996,088
7.625%, 04/15/31		180,000		236,073
				59,040,402
Mining—0.2%
Anglo American Capital plc 3.625%, 09/11/24 (144A)		2,075,000		2,057,357
4.750%, 04/10/27 (144A)		1,100,000		1,121,870
Barrick Gold Corp. 5.250%, 04/01/42		720,000		778,594
BHP Billiton Finance USA, Ltd. 4.125%, 02/24/42		760,000		798,827
Largo Resources, Ltd. 9.250%, 06/01/21 (144A)		96,000		100,680
Newmont Mining Corp. 3.500%, 03/15/22		2,740,000		2,778,685
				7,636,013
Miscellaneous Manufacturing—0.1%
Eaton Corp. 2.750%, 11/02/22		1,285,000		1,280,628
General Electric Co. 4.500%, 03/11/44		599,000		548,158
				1,828,786
Oil & Gas—2.0%
Anadarko Petroleum Corp.
Zero Coupon, 10/10/36		2,000,000		889,407
6.200%, 03/15/40		765,000		859,948
Apache Corp. 2.625%, 01/15/23		985,000		960,390

BHFTII-17

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
BP Capital Markets America, Inc. 3.119%, 05/04/26		670,000	$	667,614
3.790%, 02/06/24		1,190,000		1,235,581
3.796%, 09/21/25		2,260,000		2,344,443
Cimarex Energy Co. 3.900%, 05/15/27		1,370,000		1,367,347
4.375%, 06/01/24		2,595,000		2,697,426
Concho Resources, Inc. 3.750%, 10/01/27		3,130,000		3,107,225
4.375%, 01/15/25		4,935,000		5,074,918
Continental Resources, Inc. 3.800%, 06/01/24		1,265,000		1,276,972
4.500%, 04/15/23		4,690,000		4,858,384
Devon Energy Corp. 4.000%, 07/15/21		885,000		903,184
5.850%, 12/15/25		1,200,000		1,362,509
EOG Resources, Inc. 3.900%, 04/01/35		275,000		280,832
4.150%, 01/15/26		537,000		568,911
Frontera Energy Corp. 9.700%, 06/25/23 (144A)		358,000		374,557
Hess Corp. 5.800%, 04/01/47		740,000		772,702
Marathon Oil Corp. 2.700%, 06/01/20		2,850,000		2,836,978
2.800%, 11/01/22		3,360,000		3,319,302
Marathon Petroleum Corp. 4.750%, 12/15/23 (144A)		4,910,000		5,170,713
5.125%, 03/01/21		3,285,000		3,419,356
5.850%, 12/15/45		360,000		386,296
Odebrecht Drilling Norbe VIII/IX, Ltd. 6.350%, 12/01/21 (144A)		348,450		342,788
Odebrecht Offshore Drilling Finance, Ltd. 6.720%, 12/01/22 (144A)		348,874		332,303
7.720%, PIK, 12/01/26 (144A) (h)		12,348		2,987
Petrobras Global Finance B.V. 7.375%, 01/17/27		764,000		843,265
Petroleos Mexicanos 5.350%, 02/12/28		1,407,000		1,305,696
5.625%, 01/23/46		2,119,000		1,746,840
6.375%, 02/04/21		523,000		542,351
6.500%, 03/13/27		10,869,000		10,914,758
6.750%, 09/21/47		260,000		239,210
6.875%, 08/04/26		1,569,000		1,635,369
Pioneer Natural Resources Co. 3.950%, 07/15/22		270,000		277,846
Puma International Financing S.A. 5.000%, 01/24/26 (144A)		806,000		697,773
Resolute Energy Corp. 8.500%, 05/01/20		2,260,000		2,260,000
Shell International Finance B.V. 3.250%, 05/11/25		760,000		774,478
3.625%, 08/21/42		640,000		625,436
4.125%, 05/11/35		421,000		448,993
Oil & Gas—(Continued)
Valero Energy Corp. 3.400%, 09/15/26		939,000		919,433
3.650%, 03/15/25		601,000		609,900
				69,254,421
Oil & Gas Services—0.2%
Halliburton Co. 3.800%, 11/15/25 (e)		5,625,000		5,752,847
5.000%, 11/15/45		234,000		249,358
Odebrecht Oil & Gas Finance, Ltd. Zero Coupon, 04/29/19 (144A)		63,301		317
Schlumberger Holdings Corp. 3.000%, 12/21/20 (144A)		1,832,000		1,839,497
				7,842,019
Packaging & Containers—0.0%
Klabin Austria GmbH 5.750%, 04/03/29 (144A)		423,000		420,737
7.000%, 04/03/49 (144A)		792,000		789,228
				1,209,965
Pharmaceuticals—1.9%
AbbVie, Inc. 2.300%, 05/14/21		650,000		641,989
3.600%, 05/14/25		1,255,000		1,258,603
4.400%, 11/06/42		880,000		818,006
4.500%, 05/14/35		2,365,000		2,320,105
Allergan Finance LLC 3.250%, 10/01/22		1,015,000		1,015,625
Allergan Funding SCS 3.450%, 03/15/22		3,840,000		3,873,575
3.800%, 03/15/25		6,568,000		6,656,056
4.550%, 03/15/35		1,650,000		1,618,116
Bayer U.S. Finance II LLC 2.850%, 04/15/25 (144A)		1,900,000		1,749,141
3.375%, 07/15/24 (144A)		285,000		277,875
3.600%, 07/15/42 (144A)		570,000		438,131
Cigna Corp. 3.200%, 09/17/20 (144A)		7,505,000		7,541,021
CVS Health Corp. 3.700%, 03/09/23		2,395,000		2,433,271
4.000%, 12/05/23		2,205,000		2,266,869
4.100%, 03/25/25		2,945,000		3,025,300
4.780%, 03/25/38		740,000		733,886
5.050%, 03/25/48		2,250,000		2,267,852
5.125%, 07/20/45		5,110,000		5,211,082
Eli Lilly & Co. 4.150%, 03/15/59		435,000		449,373
GlaxoSmithKline Capital, Inc. 3.875%, 05/15/28		840,000		881,482
Johnson & Johnson 3.625%, 03/03/37		305,000		309,697
Merck & Co., Inc. 3.600%, 09/15/42		245,000		239,225

BHFTII-18

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (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	$	6,451,979
2.400%, 09/23/21		695,000		687,069
2.875%, 09/23/23		1,150,000		1,136,360
3.200%, 09/23/26		2,784,000		2,692,070
Takeda Pharmaceutical Co., Ltd. 3.800%, 11/26/20 (144A)		1,360,000		1,380,247
4.400%, 11/26/23 (144A)		2,395,000		2,517,977
5.000%, 11/26/28 (144A)		2,910,000		3,157,554
Wyeth LLC 5.950%, 04/01/37		1,685,000		2,146,926
6.450%, 02/01/24		275,000		320,696
				66,517,158
Pipelines—2.9%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp.
4.250%, 12/01/27		4,615,000		4,649,306
5.200%, 12/01/47		1,240,000		1,241,637
5.250%, 01/15/25		100,000		103,849
5.500%, 10/15/19		2,260,000		2,282,668
Buckeye Partners L.P. 4.875%, 02/01/21		3,363,000		3,446,081
Enbridge, Inc.
2.900%, 07/15/22		2,120,000		2,114,276
3.700%, 07/15/27		1,690,000		1,686,560
5.500%, 3M LIBOR + 3.418%, 07/15/77 (b)		1,510,000		1,426,950
Energy Transfer Operating L.P.
4.500%, 04/15/24		690,000		720,909
4.900%, 02/01/24		330,000		348,536
5.200%, 02/01/22		550,000		577,824
5.875%, 01/15/24		2,740,000		2,997,379
6.125%, 12/15/45		646,000		703,631
6.500%, 02/01/42		2,650,000		2,947,921
Energy Transfer Partners L.P. / Regency Energy Finance Corp.
5.000%, 10/01/22		630,000		664,418
5.750%, 09/01/20		190,000		195,974
5.875%, 03/01/22		3,395,000		3,630,063
Enterprise Products Operating LLC
3.900%, 02/15/24		1,950,000		2,025,449
4.450%, 02/15/43		1,429,000		1,437,494
4.800%, 02/01/49		215,000		228,311
5.100%, 02/15/45		501,000		549,399
Kinder Morgan Energy Partners L.P.
5.000%, 03/01/43		360,000		360,921
5.800%, 03/15/35		585,000		645,095
6.375%, 03/01/41		260,000		301,519
Kinder Morgan, Inc.
3.050%, 12/01/19		2,040,000		2,042,027
3.150%, 01/15/23		3,310,000		3,317,724
4.300%, 03/01/28		2,600,000		2,687,327
5.050%, 02/15/46		3,185,000		3,265,383
5.550%, 06/01/45		170,000		186,056
MPLX L.P.
4.000%, 02/15/25		860,000		876,474
4.125%, 03/01/27		2,600,000		2,618,490
Pipelines—(Continued)
MPLX L.P.
4.875%, 12/01/24		3,835,000		4,094,551
4.875%, 06/01/25		1,101,000		1,172,817
5.200%, 03/01/47		754,000		766,417
Northwest Pipeline LLC 4.000%, 04/01/27		2,735,000		2,760,121
Plains All American Pipeline L.P. / PAA Finance Corp. 3.650%, 06/01/22		280,000		281,849
Sabine Pass Liquefaction LLC
5.000%, 03/15/27		1,369,000		1,451,274
5.625%, 04/15/23		1,860,000		2,015,954
5.625%, 03/01/25		3,475,000		3,821,214
5.750%, 05/15/24		3,380,000		3,726,735
5.875%, 06/30/26		2,681,000		2,983,956
Spectra Energy Partners L.P.
4.500%, 03/15/45		2,060,000		2,089,718
Sunoco Logistics Partners Operations L.P.
5.350%, 05/15/45		735,000		720,093
5.400%, 10/01/47		1,229,000		1,226,253
Texas Eastern Transmission L.P.
3.500%, 01/15/28 (144A)		1,240,000		1,212,446
4.150%, 01/15/48 (144A)		625,000		600,791
TransCanada PipeLines, Ltd.
4.250%, 05/15/28		940,000		981,693
4.875%, 01/15/26		3,135,000		3,392,334
5.850%, 03/15/36		265,000		302,389
6.100%, 06/01/40		970,000		1,148,340
Transcontinental Gas Pipe Line Co. LLC
4.000%, 03/15/28		1,750,000		1,787,352
4.600%, 03/15/48		390,000		396,879
7.850%, 02/01/26		895,000		1,119,764
Transportadora de Gas Internacional S.A. ESP 5.550%, 11/01/28 (144A)		427,000		461,694
Western Midstream Operating L.P.
4.000%, 07/01/22		5,160,000		5,234,820
4.650%, 07/01/26		618,000		626,477
Williams Cos., Inc. (The)
3.700%, 01/15/23		1,070,000		1,089,718
3.750%, 06/15/27		1,765,000		1,754,215
4.000%, 11/15/21		675,000		692,892
4.125%, 11/15/20		1,500,000		1,523,964
4.550%, 06/24/24		680,000		718,179
5.750%, 06/24/44		700,000		771,209
7.500%, 01/15/31		470,000		590,941
7.875%, 09/01/21		895,000		989,288
				102,785,988
Real Estate Investment Trusts—0.4%
American Tower Corp.
3.000%, 06/15/23		1,520,000		1,515,519
3.300%, 02/15/21		1,342,000		1,354,709
3.450%, 09/15/21		500,000		505,605
3.950%, 03/15/29		2,150,000		2,161,856
CC Holdings GS V LLC / Crown Castle GS III Corp. 3.849%, 04/15/23		850,000		870,656

BHFTII-19

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—(Continued)
Crown Castle International Corp.
2.250%, 09/01/21		2,481,000	$	2,445,783
3.200%, 09/01/24		3,660,000		3,634,133
3.400%, 02/15/21		668,000		673,633
Realty Income Corp. 4.125%, 10/15/26		770,000		807,235
				13,969,129
Retail—0.4%
Home Depot, Inc. (The)
3.500%, 09/15/56		570,000		524,852
3.900%, 12/06/28		710,000		755,629
5.875%, 12/16/36		405,000		510,330
Lowe’s Cos., Inc. 4.375%, 09/15/45		1,405,000		1,372,600
McDonald’s Corp.
3.625%, 05/01/43		255,000		231,371
3.700%, 01/30/26		1,390,000		1,435,921
3.700%, 02/15/42		575,000		526,840
4.450%, 03/01/47		765,000		786,571
4.700%, 12/09/35		1,035,000		1,111,962
4.875%, 12/09/45		930,000		1,007,790
Walgreens Boots Alliance, Inc. 3.450%, 06/01/26		4,560,000		4,466,127
4.800%, 11/18/44		114,000		109,513
Walmart, Inc. 3.550%, 06/26/25		1,370,000		1,422,967
4.000%, 04/11/43		650,000		678,717
				14,941,190
Semiconductors—1.5%
Analog Devices, Inc. 2.500%, 12/05/21		1,895,000		1,877,939
3.500%, 12/05/26		835,000		828,567
3.900%, 12/15/25		347,000		353,503
5.300%, 12/15/45		593,000		663,698
Applied Materials, Inc. 3.300%, 04/01/27		1,465,000		1,480,894
3.900%, 10/01/25		645,000		678,691
4.350%, 04/01/47		2,077,000		2,184,669
5.100%, 10/01/35		1,139,000		1,294,888
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.375%, 01/15/20		1,782,000		1,773,111
3.000%, 01/15/22		7,457,000		7,427,168
Broadcom, Inc. 3.125%, 04/15/21 (144A)		3,520,000		3,519,226
3.125%, 10/15/22 (144A)		2,540,000		2,531,567
KLA Tencor Corp. 4.100%, 03/15/29		1,245,000		1,272,724
5.000%, 03/15/49		1,365,000		1,443,033
Lam Research Corp. 2.750%, 03/15/20		1,335,000		1,333,834
2.800%, 06/15/21		660,000		660,211
3.750%, 03/15/26		1,325,000		1,349,488
4.875%, 03/15/49		1,565,000		1,653,307
Semiconductors—(Continued)
NVIDIA Corp. 3.200%, 09/16/26		2,110,000		2,101,160
NXP B.V. / NXP Funding LLC 3.875%, 09/01/22 (144A)		4,041,000		4,098,099
4.125%, 06/01/21 (144A)		3,755,000		3,825,444
4.625%, 06/15/22 (144A)		715,000		739,739
4.625%, 06/01/23 (144A)		2,290,000		2,378,165
4.875%, 03/01/24 (144A)		35,000		36,933
QUALCOMM, Inc. 2.900%, 05/20/24		3,105,000		3,053,913
4.650%, 05/20/35		2,255,000		2,326,716
4.800%, 05/20/45		841,000		858,465
Texas Instruments, Inc. 2.250%, 05/01/23		550,000		542,753
4.150%, 05/15/48		660,000		712,329
				53,000,234
Software—0.8%
Autodesk, Inc. 3.500%, 06/15/27		2,130,000		2,075,833
Fidelity National Information Services, Inc. 3.000%, 08/15/26		3,820,000		3,662,710
4.500%, 08/15/46		15,000		14,213
4.750%, 05/15/48		1,560,000		1,547,750
Fiserv, Inc. 3.850%, 06/01/25		440,000		452,380
4.200%, 10/01/28		1,830,000		1,885,226
Microsoft Corp. 3.450%, 08/08/36		4,100,000		4,120,564
3.500%, 02/12/35		1,449,000		1,470,706
3.700%, 08/08/46		4,105,000		4,202,384
Oracle Corp. 2.500%, 10/15/22		235,000		233,805
2.650%, 07/15/26		2,280,000		2,206,226
3.250%, 11/15/27		489,000		492,014
3.400%, 07/08/24		1,130,000		1,157,532
3.900%, 05/15/35		1,422,000		1,455,733
4.000%, 07/15/46		1,364,000		1,371,585
4.000%, 11/15/47		595,000		598,992
VMware, Inc. 2.300%, 08/21/20		1,729,000		1,713,190
				28,660,843
Sovereign—0.0%
Oman Sovereign Sukuk SAOC 5.932%, 10/31/25 (144A)		1,437,000		1,439,845
Telecommunications—2.1%
AT&T, Inc.
Zero Coupon, 11/27/22 (144A)		4,000,000		3,573,903
3.400%, 05/15/25		615,000		608,945
4.125%, 02/17/26		385,000		393,646
4.300%, 02/15/30		6,375,000		6,456,971
4.350%, 06/15/45		3,815,000		3,506,782
5.150%, 02/15/50		2,080,000		2,129,910
6.000%, 08/15/40		1,953,000		2,201,747

BHFTII-20

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Axtel S.A.B. de CV 6.375%, 11/14/24 (144A)		920,000	$	919,724
6.375%, 11/14/24		200,000		199,940
C&W Senior Financing DAC 6.875%, 09/15/27 (144A)		878,000		880,195
Cisco Systems, Inc. 2.950%, 02/28/26		605,000		607,157
Corning, Inc. 3.700%, 11/15/23		215,000		217,843
4.375%, 11/15/57		1,660,000		1,546,928
Deutsche Telekom International Finance B.V. 4.375%, 06/21/28 (144A)		1,100,000		1,144,751
Digicel Group Two, Ltd. 8.250%, 09/30/22 (144A)		232,179		77,780
9.125%, 2.000% PIK, 04/01/24 (144A) (h)		386,000		102,290
Juniper Networks, Inc. 3.300%, 06/15/20		1,478,000		1,483,881
Millicom International Cellular S.A. 6.625%, 10/15/26 (144A)		300,000		315,000
Oi S.A. 10.000%, 4.000% PIK, 07/27/25 (h)		615,000		648,825
Rogers Communications, Inc. 5.000%, 03/15/44		214,000		237,862
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.360%, 09/20/21 (144A)		2,298,125		2,297,436
4.738%, 03/20/25 (144A)		7,755,000		7,842,244
Telefonica Emisiones S.A.U. 4.665%, 03/06/38		1,895,000		1,811,368
TELUS Corp. 4.600%, 11/16/48		235,000		248,781
Verizon Communications, Inc.
3.213%, 3M LIBOR + 0.550%, 05/22/20 (b) (e)		4,870,000		4,890,478
4.125%, 03/16/27		10,190,000		10,668,138
4.125%, 08/15/46		1,160,000		1,126,160
4.272%, 01/15/36		4,505,000		4,563,087
4.329%, 09/21/28		1,623,000		1,720,745
4.400%, 11/01/34		760,000		791,708
4.500%, 08/10/33		2,590,000		2,742,665
Vodafone Group plc
3.750%, 01/16/24		4,154,000		4,191,012
4.125%, 05/30/25		1,250,000		1,274,047
5.250%, 05/30/48 (e)		1,255,000		1,255,153
6.150%, 02/27/37		1,730,000		1,921,222
7.000%, 5Y USD ICE Swap + 4.873%, 04/04/79 (b)		1,085,000		1,102,814
				75,701,138
Transportation—0.6%
Burlington Northern Santa Fe LLC
3.000%, 04/01/25		175,000		176,560
4.150%, 04/01/45		1,460,000		1,522,199
4.150%, 12/15/48		105,000		110,656
4.700%, 09/01/45		665,000		745,698
6.150%, 05/01/37		234,000		299,840
Transportation—(Continued)
CSX Corp.
4.250%, 03/15/29		695,000		738,643
4.250%, 11/01/66		635,000		593,131
4.750%, 11/15/48		560,000		608,508
6.150%, 05/01/37		220,000		269,780
FedEx Corp.
3.400%, 01/14/22		900,000		912,284
3.875%, 08/01/42		3,055,000		2,702,336
3.900%, 02/01/35		1,975,000		1,853,477
4.100%, 04/15/43		1,050,000		958,123
Norfolk Southern Corp.
2.900%, 06/15/26		1,310,000		1,283,787
3.650%, 08/01/25		1,125,000		1,159,859
4.050%, 08/15/52		630,000		615,144
Rumo Luxembourg S.a.r.l. 5.875%, 01/18/25 (144A)		679,000		682,395
Ryder System, Inc. 3.750%, 06/09/23		135,000		138,279
Union Pacific Corp.
2.750%, 03/01/26		1,262,000		1,230,826
3.150%, 03/01/24		1,320,000		1,340,297
3.375%, 02/01/35		603,000		566,114
3.600%, 09/15/37		1,475,000		1,414,055
3.799%, 10/01/51		310,000		291,589
3.875%, 02/01/55		1,196,000		1,105,864
Union Pacific Railroad Co. Pass-Through Trust 3.227%, 05/14/26		735,629		736,117
				22,055,561
Trucking & Leasing—0.1%
GATX Corp. 2.600%, 03/30/20		1,747,000		1,741,570
Penske Truck Leasing Co. L.P. / PTL Finance Corp. 3.400%, 11/15/26 (144A) (e)		2,690,000		2,576,208
				4,317,778
Total Corporate Bonds & Notes (Cost $1,326,317,264)				1,349,986,576
Asset-Backed Securities—10.4%
Asset-Backed - Home Equity—0.9%
ACE Securities Corp. Home Equity Loan Trust 2.616%, 1M LIBOR + 0.130%, 05/25/37 (b)		1,175,967		328,010
Bayview Financial Revolving Asset Trust 3.496%, 1M LIBOR + 1.000%, 05/28/39 (144A) (b)		7,128,391		6,190,566
3.496%, 1M LIBOR + 1.000%, 12/28/40 (144A) (b)		475,562		464,894
Bear Stearns Asset-Backed Securities Trust 2.836%, 1M LIBOR + 0.350%, 04/25/37 (b)		2,555,884		2,145,564
3.686%, 1M LIBOR + 1.200%, 01/25/36 (b)		66,568		66,334
4.211%, 1M LIBOR + 1.725%, 08/25/34 (b)		89,088		88,672
Citigroup Mortgage Loan Trust 2.686%, 1M LIBOR + 0.200%, 05/25/37 (b)		2,635,345		1,922,247
2.756%, 1M LIBOR + 0.270%, 05/25/37 (b)		1,197,089		881,020

BHFTII-21

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Home Equity—(Continued)
Countrywide Asset-Backed Certificates 2.806%, 1M LIBOR + 0.320%, 10/25/36 (b)		1,183,266	$	1,132,459
Countrywide Home Equity Loan Trust 5.842%, 06/25/35		1,496		39,529
6.155%, 06/25/35		411,756		438,172
Home Equity Mortgage Loan Asset-Backed Trust 4.511%, 1M LIBOR + 2.025%, 07/25/34 (b)		257,389		255,037
Home Equity Mortgage Trust 5.867%, 07/25/36		718,995		231,902
Home Loan Mortgage Loan Trust 3.204%, 1M LIBOR + 0.720%, 04/15/36 (b)		869,077		800,311
Irwin Home Equity Loan Trust 6.530%, 09/25/37 (144A)		228,834		223,649
MASTR Asset-Backed Securities Trust 2.636%, 1M LIBOR + 0.150%, 06/25/36 (b)		940,663		507,845
2.746%, 1M LIBOR + 0.260%, 06/25/36 (144A) (b)		611,596		546,626
2.766%, 1M LIBOR + 0.280%, 05/25/37 (b)		621,846		532,309
Mill City Mortgage Trust 1.000%, 06/01/57 (144A)		3,560,000		569,600
4.000%, 06/01/57 (144A)		1,975,710		1,974,476
Morgan Stanley ABS Capital I, Inc. Trust 2.616%, 1M LIBOR + 0.130%, 11/25/36 (b)		4,718,254		2,759,951
Nationstar Home Equity Loan Trust 2.666%, 1M LIBOR + 0.180%, 06/25/37 (b)		95,853		95,360
Option One Mortgage Loan Trust 2.696%, 1M LIBOR + 0.210%, 03/25/37 (b)		930,000		618,975
5.820%, 03/25/37		4,421,366		4,375,171
5.866%, 01/25/37		2,360,497		2,206,601
Securitized Asset Backed Receivables LLC Trust 2.676%, 1M LIBOR + 0.190%, 11/25/36 (144A) (b)		1,022,354		596,665
Security National Mortgage Loan Trust 2.836%, 1M LIBOR + 0.350%, 04/25/37 (144A) (b)		285,874		281,621
WaMu Asset-Backed Certificates WaMu Trust 2.736%, 1M LIBOR + 0.250%, 04/25/37 (b)		3,265,678		1,661,951
2.846%, 1M LIBOR + 0.360%, 04/25/37 (b)		346,978		178,903
Yale Mortgage Loan Trust 2.886%, 1M LIBOR + 0.400%, 06/25/37 (144A) (b)		890,215		367,767
				32,482,187
Asset-Backed - Manufactured Housing—0.5%
Bank of America Manufactured Housing Contract Trust 7.070%, 02/10/22 (b)		470,000		381,746
7.930%, 12/10/25 (b)		4,000,000		2,471,899
BCMSC Trust 7.575%, 06/15/30 (b)		1,270,292		420,990
7.830%, 06/15/30 (b)		1,178,847		403,835
8.290%, 06/15/30 (b)		2,018,917		732,248
Conseco Finance Corp. 6.280%, 09/01/30		444,174		468,009
6.830%, 04/01/30 (b)		141,140		126,222
6.980%, 09/01/30 (b)		1,044,714		899,724
7.500%, 03/01/30 (b)		461,555		313,050
7.860%, 03/01/30 (b)		631,246		442,309
Conseco Finance Securitizations Corp. 7.960%, 05/01/31		964,635		549,058
7.970%, 05/01/32		2,292,599		973,359
8.060%, 09/01/29 (b)		654,736		295,222
8.200%, 05/01/31		1,762,651		1,030,786
Asset-Backed - Manufactured Housing—(Continued)
Credit Suisse First Boston Mortgage Securities Corp. 8.100%, 09/25/31 (b)		720,000		760,380
Credit-Based Asset Servicing & Securitization LLC 6.250%, 10/25/36 (144A)		344,000		344,399
Greenpoint Manufactured Housing 8.290%, 12/15/29 (b)		440,000		464,644
9.230%, 12/15/29 (b)		528,424		434,396
Lehman ABS Manufactured Housing Contract Trust 6.630%, 04/15/40 (b)		2,430,000		2,541,391
Oakwood Mortgage Investors, Inc. 6.930%, 09/15/31 (b)		257,127		216,065
7.620%, 06/15/32 (b)		811,689		673,848
Origen Manufactured Housing Contract Trust 3.684%, 1M LIBOR + 1.200%, 10/15/37 (144A) (b)		825,513		781,524
7.820%, 03/15/32 (b)		340,667		335,734
				16,060,838
Asset-Backed - Other—8.6%
Ajax Mortgage Loan Trust
Zero Coupon, 02/26/57 (144A)		1,043,601		292,208
Zero Coupon, 06/25/57 (144A)		1,456,469		1,394,321
Zero Coupon, 08/25/57 (144A)		1,140,000		880,849
Zero Coupon, 12/25/57 (144A) (b)		1,704,324		766,946
Zero Coupon, 04/25/58 (144A)		795,260		437,393
Zero Coupon, 06/25/58 (144A) (b)		591,307		171,420
Zero Coupon, 08/25/58 (144A) (b)		821,869		460,247
Zero Coupon, 11/25/58 (144A)		1,635,231		814,536
3.750%, 08/25/57 (144A) (b)		4,550,000		4,540,536
3.750%, 12/25/57 (144A)		3,494,725		3,587,174
3.750%, 08/25/58 (144A) (b)		3,320,904		3,370,667
3.850%, 04/25/58 (144A)		3,211,866		3,216,731
4.375%, 06/25/57 (144A) (b)		4,659,418		4,743,851
4.375%, 06/25/58 (144A) (b)		1,371,517		1,382,163
4.375%, 11/25/58 (144A) (b)		4,958,084		5,059,847
5.250%, 06/25/57 (144A) (b)		567,000		556,193
5.250%, 08/25/57 (144A) (b)		440,000		431,031
5.250%, 06/25/58 (144A) (b)		230,000		225,725
5.250%, 11/25/58 (144A) (b)		667,953		655,539
Allegro CLO, Ltd. 3.841%, 3M LIBOR + 1.080%, 10/21/28 (144A) (b)		1,370,000		1,360,348
4.019%, 3M LIBOR + 1.240%, 10/16/30 (144A) (b)		400,000		398,316
ALM, Ltd. 2.604%, 3M LIBOR + 1.250%, 10/18/27 (144A) (b)		900,000		890,112
3.669%, 3M LIBOR + 0.890%, 04/16/27 (144A) (b)		360,000		358,559
3.690%, 3M LIBOR + 0.910%, 10/18/27 (144A) (b)		1,450,000		1,440,761
4.187%, 3M LIBOR + 1.400%, 07/15/26 (144A) (b)		459,000		451,628
4.287%, 3M LIBOR + 1.500%, 07/15/27 (144A) (b)		1,810,000		1,807,377
4.429%, 3M LIBOR + 1.650%, 04/16/27 (144A) (b)		1,385,000		1,356,337
4.687%, 3M LIBOR + 1.900%, 07/15/27 (144A) (b)		720,000		710,065
AMMC CLO, Ltd. 3.897%, 3M LIBOR + 1.200%, 11/10/30 (144A) (b)		500,000		497,413
Anchorage Capital CLO, Ltd. 4.047%, 3M LIBOR + 1.250%, 10/13/30 (144A) (b)		835,000		833,036
4.057%, 3M LIBOR + 1.270%, 07/15/30 (144A) (b)		710,000		710,010
4.087%, 3M LIBOR + 1.300%, 10/15/27 (144A) (b)		1,130,000		1,116,982

BHFTII-22

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Anchorage Capital CLO, Ltd.
4.237%, 3M LIBOR + 1.450%, 01/15/30 (144A) (b)		2,410,000	$	2,382,386
4.265%, 3M LIBOR + 1.500%, 01/28/31 (144A) (b)		1,270,000		1,244,044
4.365%, 3M LIBOR + 1.600%, 07/28/28 (144A) (b)		800,000		792,927
4.487%, 3M LIBOR + 1.700%, 10/15/27 (144A) (b)		250,000		244,691
4.615%, 3M LIBOR + 1.850%, 01/28/31 (144A) (b)		1,390,000		1,329,721
4.637%, 3M LIBOR + 1.850%, 01/15/30 (144A) (b)		1,010,000		981,648
4.947%, 3M LIBOR + 2.150%, 10/13/30 (144A) (b)		590,000		573,130
Apidos CLO 3.741%, 3M LIBOR + 0.980%, 01/19/25 (144A) (b)		161,781		161,674
Arbor Realty Collateralized Loan Obligation, Ltd. 3.474%, 1M LIBOR + 0.990%, 12/15/27 (144A) (b)		1,200,000		1,196,250
Arbor Realty Commercial Real Estate Notes, Ltd. 3.474%, 1M LIBOR + 0.990%, 08/15/27 (144A) (b)		570,000		568,219
4.184%, 1M LIBOR + 1.700%, 09/15/26 (144A) (b)		1,590,000		1,601,397
Ares CLO, Ltd. 3.957%, 3M LIBOR + 1.170%, 10/15/30 (144A) (b)		390,000		388,549
Atrium 4.411%, 3M LIBOR + 1.650%, 04/22/27 (144A) (b)		1,119,000		1,095,348
Avery Point CLO, Ltd. 3.753%, 3M LIBOR + 0.980%, 07/17/26 (144A) (b)		947,710		945,057
4.287%, 3M LIBOR + 1.500%, 01/15/28 (144A) (b)		2,820,000		2,820,471
B2R Mortgage Trust 2.524%, 05/15/48 (144A)		149,966		148,890
3.336%, 11/15/48 (144A)		312,552		312,007
Babson CLO, Ltd. 3.951%, 3M LIBOR + 1.190%, 10/20/30 (144A) (b)		870,000		867,154
4.161%, 3M LIBOR + 1.400%, 01/20/31 (144A) (b)		250,000		245,023
BDS, Ltd. 3.884%, 3M LIBOR + 1.400%, 12/15/35 (144A) (b)		1,270,000		1,273,175
Benefit Street Partners CLO, Ltd. 3.560%, 3M LIBOR + 0.780%, 07/18/27 (144A) (b)		820,000		814,641
3.851%, 3M LIBOR + 1.090%, 04/20/31 (144A) (b)		440,000		435,667
3.861%, 3M LIBOR + 1.100%, 01/20/31 (144A) (b)		2,000,000		1,980,038
4.020%, 3M LIBOR + 1.240%, 10/18/29 (144A) (b)		3,800,000		3,796,599
BlueMountain CLO, Ltd. 3.941%, 3M LIBOR + 1.180%, 10/22/30 (144A) (b)		760,000		755,058
Bowman Park CLO, Ltd. 3.831%, 3M LIBOR + 1.180%, 11/23/25 (144A) (b)		1,093,649		1,093,827
BSPRT Issuer, Ltd. 3.522%, 1M LIBOR + 1.050%, 03/15/28 (144A) (b)		390,000		389,269
C-BASS Trust 2.646%, 1M LIBOR + 0.160%, 10/25/36 (b)		265,226		201,469
Carlyle Global Market Strategies CLO, Ltd. 3.670%, 3M LIBOR + 0.890%, 01/18/29 (144A) (b)		510,000		504,736
3.743%, 3M LIBOR + 0.970%, 04/17/31 (144A) (b)		970,000		955,610
3.815%, 3M LIBOR + 1.050%, 07/27/31 (144A) (b)		4,100,000		4,064,260
4.211%, 3M LIBOR + 1.450%, 01/20/29 (144A) (b)		7,485,000		7,486,542
4.365%, 3M LIBOR + 1.600%, 07/28/28 (144A) (b)		640,000		637,564
Carlyle U.S. CLO, Ltd. 3.967%, 3M LIBOR + 1.180%, 01/15/30 (144A) (b)		1,550,000		1,543,287
Carrington Mortgage Loan Trust 2.606%, 1M LIBOR + 0.120%, 10/25/36 (b)		459,753		346,315
2.646%, 1M LIBOR + 0.160%, 10/25/36 (b)		594,161		525,331
2.706%, 1M LIBOR + 0.220%, 10/25/36 (b)		730,000		497,333
2.726%, 1M LIBOR + 0.240%, 08/25/36 (b)		4,800,000		3,623,081
Asset-Backed - Other—(Continued)
CBAM, Ltd. 4.011%, 3M LIBOR + 1.250%, 07/20/30 (144A) (b)		2,000,000		1,995,538
4.523%, 3M LIBOR + 1.750%, 10/17/29 (144A) (b)		1,020,000		1,013,492
Cedar Funding CLO, Ltd. 3.741%, 3M LIBOR + 0.980%, 04/20/31 (144A) (b)		380,000		373,931
3.851%, 3M LIBOR + 1.090%, 10/20/28 (144A) (b)		3,680,000		3,669,722
3.873%, 3M LIBOR + 1.100%, 07/17/31 (144A) (b)		770,000		762,996
4.023%, 3M LIBOR + 1.250%, 10/17/30 (144A) (b)		5,150,000		5,138,031
Cent CLO, Ltd. 3.857%, 3M LIBOR + 1.070%, 10/15/26 (144A) (b)		1,130,000		1,126,022
Chase Funding Trust 6.333%, 04/25/32		307,165		310,547
CIFC Funding, Ltd. 3.780%, 3M LIBOR + 1.000%, 04/18/31 (144A) (b)		589,000		579,350
4.529%, 3M LIBOR + 1.750%, 07/16/30 (144A) (b)		250,000		247,940
Citicorp Residential Mortgage Trust 5.124%, 06/25/37		1,030,000		967,360
Citigroup Mortgage Loan Trust, Inc. 2.806%, 1M LIBOR + 0.320%, 11/25/36 (b)		990,000		848,991
Countrywide Asset-Backed Certificates 2.646%, 1M LIBOR + 0.160%, 12/25/35 (b)		1,781,630		1,754,208
2.706%, 1M LIBOR + 0.220%, 12/25/25 (b)		66,502		73,699
Countrywide Asset-Backed Certificates Trust 2.646%, 1M LIBOR + 0.160%, 09/25/46 (b)		113,338		111,342
Countrywide Revolving Home Equity Loan Resecuritization Trust 2.784%, 1M LIBOR + 0.300%, 12/15/33 (144A) (b)		551,862		512,945
Countrywide Revolving Home Equity Loan Trust 2.664%, 1M LIBOR + 0.180%, 05/15/35 (b)		359,516		346,694
Credit-Based Asset Servicing & Securitization LLC 3.438%, 12/25/36		202,681		182,544
CWABS Asset-Backed Certificates Trust 5.669%, 05/25/36 (b)		368,225		370,658
5.690%, 05/25/36 (b)		1,331,484		1,292,277
CWHEQ Revolving Home Equity Loan Resuritization Trust 2.724%, 1M LIBOR + 0.240%, 12/15/35 (144A) (b)		391,585		376,162
CWHEQ Revolving Home Equity Loan Trust 2.634%, 1M LIBOR + 0.150%, 11/15/36 (b)		727,299		595,028
DCP Rights LLC 5.463%, 10/25/44 (144A)		6,641,757		6,916,142
Dorchester Park CLO DAC 4.211%, 3M LIBOR + 1.450%, 04/20/28 (144A) (b)		934,000		920,459
Dryden CLO, Ltd. 3.907%, 3M LIBOR + 1.120%, 01/15/31 (144A) (b)		6,020,000		5,979,660
Dryden Senior Loan Fund 3.687%, 3M LIBOR + 0.900%, 10/15/27 (144A) (b)		1,630,000		1,622,631
3.884%, 3M LIBOR + 1.200%, 08/15/30 (144A) (b)		2,205,000		2,198,019
4.637%, 3M LIBOR + 1.850%, 10/15/27 (144A) (b)		660,000		652,129
Finance of America Structured Securities Trust 6.000%, 09/25/28 (144A) (b)		596,000		584,259
First Franklin Mortgage Loan Trust 2.626%, 1M LIBOR + 0.140%, 12/25/36 (b)		5,282,535		3,049,110
2.636%, 1M LIBOR + 0.150%, 12/25/36 (b)		3,035,785		2,634,588
2.696%, 1M LIBOR + 0.210%, 12/25/36 (b)		9,717,553		5,680,004
Flatiron CLO, Ltd. 3.677%, 3M LIBOR + 0.890%, 04/15/27 (144A) (b)		970,000		966,874

BHFTII-23

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Fremont Home Loan Trust 2.626%, 1M LIBOR + 0.140%, 02/25/37 (b)		2,419,591	$	1,848,118
Galaxy CLO, Ltd. 4.364%, 3M LIBOR + 1.680%, 11/15/26 (144A) (b)		430,000		421,060
GE-WMC Asset-Backed Pass-Through Certificates 2.736%, 1M LIBOR + 0.250%, 12/25/35 (b)		165,788		164,939
Greystone Commercial Real Estate Notes, Ltd. 4.034%, 1M LIBOR + 1.550%, 03/15/27 (144A) (b)		400,000		401,178
Greywolf CLO, Ltd. 5.123%, 3M LIBOR + 2.350%, 01/17/27 (144A) (b)		320,000		319,986
Highbridge Loan Management, Ltd. 3.733%, 3M LIBOR + 1.000%, 02/05/31 (144A) (b)		1,390,000		1,374,253
Home Equity Mortgage Loan Asset-Backed Trust 2.686%, 1M LIBOR + 0.200%, 07/25/37 (b)		1,131,770		744,093
ICG U.S. CLO, Ltd. 3.901%, 3M LIBOR + 1.140%, 10/19/28 (144A) (b)		1,065,000		1,060,115
Invitation Homes Trust 4.482%, 1M LIBOR + 2.000%, 07/17/37 (144A) (b)		712,107		710,988
4.982%, 1M LIBOR + 2.500%, 03/17/37 (144A) (b)		410,000		408,924
Knollwood CDO, Ltd. 4.355%, 3M LIBOR + 3.200%, 01/10/39 (144A) (b) (i) (j)		912,167		0
LCM, Ltd. 3.801%, 3M LIBOR + 1.040%, 10/20/27 (144A) (b)		1,010,000		1,003,251
3.831%, 3M LIBOR + 1.070%, 01/20/31 (144A) (b)		2,590,000		2,572,831
Legacy Mortgage Asset Trust 4.000%, 12/28/54 (144A)		3,150,000		3,147,121
Lehman ABS Mortgage Loan Trust 2.576%, 1M LIBOR + 0.090%, 06/25/37 (144A) (b)		201,942		143,359
Lendmark Funding Trust 2.830%, 12/22/25 (144A)		5,270,000		5,224,717
Litigation Fee Residual Funding LLC 4.000%, 10/30/27 (144A)		2,334,117		2,324,379
LoanCore Issuer, Ltd. 3.614%, 1M LIBOR + 1.130%, 05/15/28 (144A) (b)		2,210,000		2,211,009
Long Beach Mortgage Loan Trust 2.596%, 1M LIBOR + 0.110%, 10/25/36 (b)		551,339		234,012
2.636%, 1M LIBOR + 0.150%, 06/25/36 (b)		618,006		338,368
2.646%, 1M LIBOR + 0.160%, 05/25/36 (b)		3,596,734		1,592,875
2.646%, 1M LIBOR + 0.160%, 10/25/36 (b)		2,190,795		936,907
2.646%, 1M LIBOR + 0.160%, 11/25/36 (b)		2,655,004		1,182,540
2.666%, 1M LIBOR + 0.180%, 03/25/46 (b)		1,168,370		936,459
2.666%, 1M LIBOR + 0.180%, 05/25/46 (b)		2,019,049		796,144
2.706%, 1M LIBOR + 0.220%, 11/25/36 (b)		781,243		351,400
2.746%, 1M LIBOR + 0.260%, 05/25/36 (b)		2,497,730		1,129,885
Madison Park Funding, Ltd. 3.709%, 3M LIBOR + 1.200%, 07/29/30 (144A) (b)		2,030,000		2,022,440
3.711%, 3M LIBOR + 0.950%, 04/19/30 (144A) (b)		1,330,000		1,321,600
3.951%, 3M LIBOR + 1.190%, 10/21/30 (144A) (b)		5,000,000		4,976,985
Marathon CRE Issuer, Ltd. 3.634%, 1M LIBOR + 1.150%, 06/15/28 (144A) (b)		510,000		510,000
Marble Point CLO, Ltd. 3.960%, 3M LIBOR + 1.180%, 12/18/30 (144A) (b)		580,000		573,609
Merrill Lynch First Franklin Mortgage Loan Trust 2.726%, 1M LIBOR + 0.240%, 05/25/37 (b)		10,682,073		7,077,053
Mountain Hawk II CLO, Ltd. 4.361%, 3M LIBOR + 1.600%, 07/20/24 (144A) (b)		1,138,000		1,137,217
Asset-Backed - Other—(Continued)
MP CLO, Ltd. 4.011%, 3M LIBOR + 1.250%, 10/20/30 (144A) (b)		1,010,000		1,002,880
Neuberger Berman Loan Advisers CLO, Ltd. 3.950%, 3M LIBOR + 1.170%, 10/18/30 (144A) (b)		1,770,000		1,761,892
Nomura Asset Acceptance Corp. Alternative Loan Trust 2.886%, 1M LIBOR + 0.400%, 10/25/36 (144A) (b)		322,204		288,922
OCP CLO, Ltd. 3.585%, 3M LIBOR + 0.820%, 10/26/27 (144A) (b)		270,000		268,208
3.845%, 3M LIBOR + 1.080%, 04/26/31 (144A) (b)		160,000		158,189
3.857%, 3M LIBOR + 1.260%, 07/15/30 (144A) (b)		3,270,000		3,255,592
3.900%, 3M LIBOR + 1.120%, 10/18/28 (144A) (b)		2,366,000		2,352,005
4.594%, 3M LIBOR + 1.950%, 11/20/30 (144A) (b)		250,000		240,473
Octagon Investment Partners, Ltd. 3.739%, 3M LIBOR + 0.960%, 04/16/31 (144A) (b)		2,210,000		2,177,482
3.771%, 3M LIBOR + 1.000%, 01/25/31 (144A) (b)		3,420,000		3,377,732
3.793%, 3M LIBOR + 1.020%, 07/17/30 (144A) (b)		3,370,000		3,328,802
3.951%, 3M LIBOR + 1.190%, 01/20/31 (144A) (b)		430,000		428,516
OFSI Fund, Ltd. 3.917%, 3M LIBOR + 1.130%, 03/20/25 (144A) (b)		4,190,000		4,159,690
OHA Loan Funding, Ltd. 3.691%, 3M LIBOR + 1.040%, 05/23/31 (144A) (b)		5,670,000		5,618,505
OneMain Financial Issuance Trust 4.100%, 03/20/28 (144A)		71,519		71,627
4.320%, 07/18/25 (144A)		2,546,490		2,550,880
OZLM Funding, Ltd. 4.011%, 3M LIBOR + 1.250%, 10/22/30 (144A) (b)		10,705,000		10,603,099
5.761%, 3M LIBOR + 3.000%, 01/22/29 (144A) (b)		3,950,000		3,950,288
OZLM, Ltd. 4.007%, 3M LIBOR + 1.220%, 11/22/30 (144A) (b)		690,000		687,105
4.251%, 3M LIBOR + 1.490%, 01/20/29 (144A) (b)		1,950,000		1,950,452
4.487%, 3M LIBOR + 1.700%, 01/15/29 (144A) (b)		2,570,000		2,548,517
4.661%, 3M LIBOR + 1.900%, 01/20/31 (144A) (b)		320,000		308,101
4.861%, 3M LIBOR + 2.100%, 01/20/29 (144A) (b)		810,000		810,047
Palmer Square CLO, Ltd. 3.810%, 3M LIBOR + 1.030%, 04/18/31 (144A) (b)		1,040,000		1,025,715
3.903%, 3M LIBOR + 1.130%, 01/17/31 (144A) (b)		1,312,000		1,300,784
4.034%, 3M LIBOR + 1.350%, 08/15/26 (144A) (b)		945,000		934,977
Parallel Ltd. 4.511%, 3M LIBOR + 1.750%, 07/20/27 (144A) (b)		350,000		343,268
Progress Residential Trust 2.740%, 06/12/32 (144A)		1,110,020		1,102,641
2.768%, 08/17/34 (144A)		927,022		919,198
4.778%, 03/17/35 (144A)		120,000		119,957
6.032%, 1M LIBOR + 3.550%, 01/17/34 (144A) (b)		347,000		347,596
6.643%, 11/12/32 (144A)		250,000		253,964
PRPM LLC 4.250%, 01/25/22 (144A)		82,116		82,789
Race Point CLO, Ltd. 3.997%, 3M LIBOR + 1.210%, 10/15/30 (144A) (b)		1,170,000		1,159,325
RAMP Trust 2.656%, 1M LIBOR + 0.170%, 02/25/37 (b)		702,388		357,777
Regatta VI Funding, Ltd. 3.841%, 3M LIBOR + 1.080%, 07/20/28 (144A) (b)		2,910,000		2,894,274
Rockford Tower CLO, Ltd. 3.951%, 3M LIBOR + 1.190%, 10/20/30 (144A) (b)		2,590,000		2,563,934
4.157%, 3M LIBOR + 1.370%, 04/15/29 (144A) (b)		3,550,000		3,550,177

BHFTII-24

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Rockford Tower CLO, Ltd.
4.537%, 3M LIBOR + 1.750%, 10/15/29 (144A) (b)		1,590,000	$	1,583,839
4.587%, 3M LIBOR + 1.800%, 04/15/29 (144A) (b)		1,500,000		1,489,035
5.087%, 3M LIBOR + 2.300%, 10/15/29 (144A) (b)		310,000		306,096
RR 3, Ltd. 3.877%, 3M LIBOR + 1.090%, 01/15/30 (144A) (b)		560,000		555,445
SG Mortgage Securities Trust 2.696%, 1M LIBOR + 0.210%, 10/25/36 (b)		570,000		451,755
Silver Creek CLO, Ltd. 4.001%, 3M LIBOR + 1.240%, 07/20/30 (144A) (b)		1,330,000		1,327,542
Sound Point CLO II, Ltd. 3.835%, 3M LIBOR + 1.070%, 01/26/31 (144A) (b)		500,000		493,691
Sound Point CLO, Ltd. 4.302%, 3M LIBOR + 1.530%, 01/23/29 (144A) (b)		3,080,000		3,080,594
Soundview Home Loan Trust 3.281%, 1M LIBOR + 0.795%, 01/25/35 (b)		24,775		23,790
SpringCastle America Funding LLC 3.050%, 04/25/29 (144A)		2,594,747		2,591,471
Springleaf Funding Trust 3.620%, 11/15/24 (144A)		2,062,000		2,062,680
Steele Creek CLO, Ltd. 4.037%, 3M LIBOR + 1.250%, 01/15/30 (144A) (b)		670,000		666,235
Symphony CLO, Ltd. 3.817%, 3M LIBOR + 1.030%, 10/15/25 (144A) (b)		7,728,773		7,728,665
TCI-Flatiron CLO,Ltd. 3.883%, 3M LIBOR + 1.200%, 11/17/30 (144A) (b)		1,080,000		1,076,944
TIAA CLO, Ltd. 3.929%, 3M LIBOR + 1.150%, 01/16/31 (144A) (b)		571,000		565,812
4.041%, 3M LIBOR + 1.280%, 04/20/29 (144A) (b)		900,000		898,919
Towd Point Mortgage Trust 4.250%, 11/25/58 (144A) (b)		840,000		845,024
4.500%, 11/25/58 (144A) (b)		2,110,000		2,123,850
Tricon American Homes Trust 4.564%, 05/17/37 (144A)		260,000		260,297
4.960%, 05/17/37 (144A)		180,000		179,736
5.104%, 01/17/36 (144A)		340,000		342,494
Venture CLO, Ltd. 3.850%, 3M LIBOR + 1.070%, 07/18/31 (144A) (b)		420,000		414,910
Vericrest Opportunity Loan Trust 3.967%, 02/25/49 (144A)		436,328		436,878
3.967%, 03/25/49 (144A)		2,580,000		2,582,814
Vibrant CLO, Ltd. 4.311%, 3M LIBOR + 1.550%, 01/20/29 (144A) (b)		1,020,000		1,020,816
Voya CLO, Ltd. 3.917%, 3M LIBOR + 1.130%, 10/15/30 (144A) (b)		1,020,000		1,011,329
Washington Mutural Asset-Backed Certificates Trust 2.641%, 1M LIBOR + 0.155%, 10/25/36 (b)		891,872		718,296
2.670%, 1M LIBOR + 0.180%, 09/25/36 (b)		2,223,752		1,037,979
2.706%, 1M LIBOR + 0.220%, 02/25/37 (b)		2,187,269		954,675
Wellfleet CLO, Ltd. 4.081%, 3M LIBOR + 1.320%, 04/20/29 (144A) (b)		850,000		849,685
West CLO, Ltd. 3.899%, 3M LIBOR + 1.160%, 11/07/25 (144A) (b)		633,725		633,425
Asset-Backed - Other—(Continued)
York CLO, Ltd. 4.011%, 3M LIBOR + 1.250%, 10/20/29 (144A) (b)		630,000		627,745
4.511%, 3M LIBOR + 1.750%, 10/20/29 (144A) (b)		850,000		844,656
				305,434,378
Asset-Backed - Student Loan—0.4%
Navient Private Education Loan Trust 4.234%, 1M LIBOR + 1.750%, 10/17/44 (144A) (b)		4,595,000		4,644,105
Scholar Funding Trust 3.146%, 1M LIBOR + 0.650%, 01/30/45 (144A) (b)		4,320,605		4,293,368
SLM Private Credit Student Loan Trust 2.941%, 3M LIBOR + 0.330%, 03/15/24 (b)		2,718,722		2,696,830
SLM Private Education Loan Trust 2.500%, 03/15/47 (144A)		715,449		714,510
3.000%, 05/16/44 (144A)		970,000		967,917
3.884%, 1M LIBOR + 1.400%, 10/15/31 (144A) (b)		593,742		595,309
SMB Private Education Loan Trust 3.500%, 12/17/40 (144A)		1,340,000		1,347,239
				15,259,278
Total Asset-Backed Securities (Cost $368,436,636)				369,236,681
Municipals—5.2%
American Municipal Power, Inc., Build America Bonds 6.449%, 02/15/44		355,000		478,050
7.834%, 02/15/41		425,000		640,722
Arizona Health Facilities Authority 2.684%, 3M LIBOR + 0.000%, 01/01/37 (b)		780,000		747,755
Arizona State University 5.000%, 07/01/43		330,000		385,176
Atlanta GA Water & Wastewater Revenue 5.000%, 11/01/41		500,000		588,930
Aurora, CO Water Revenue 5.000%, 08/01/41		1,020,000		1,183,812
5.000%, 08/01/46		1,190,000		1,374,474
Austin TX Water & Wastewater System Rev. 5.000%, 11/15/43		500,000		559,610
Bay Area Toll Bridge Authority, Build America Bonds 6.918%, 04/01/40		1,575,000		2,190,006
7.043%, 04/01/50		2,610,000		3,992,308
Berks County Industrial Development Authority 5.000%, 11/01/47		510,000		573,653
5.000%, 11/01/50		480,000		538,325
Buckeye Tobacco Settlement Financing Authority 5.875%, 06/01/47		2,100,000		2,047,626
California Health Facilities Financing Authority 5.000%, 08/15/33		495,000		586,332
Series A 5.000%, 08/15/47		500,000		563,520
California Pollution Control Financing Authority 5.000%, 11/21/45 (144A)		450,000		474,629
California State Public Works Board, Build America Bond 8.361%, 10/01/34		760,000		1,144,970

BHFTII-25

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
Canaveral Port Authority 5.000%, 06/01/45		520,000	$	584,516
5.000%, 06/01/48		520,000		598,499
Central Puget Sound Regional Transit Authority 5.000%, 11/01/50		510,000		575,102
Central Texas Regional Mobility Authority 5.000%, 01/01/45		350,000		386,953
5.000%, 01/01/46		350,000		388,850
Chesapeake Bay Bridge & Tunnel District 5.000%, 07/01/41		360,000		415,213
5.000%, 07/01/51		275,000		304,505
Chicago O’Hare International Airport
4.472%, 01/01/49		800,000		878,800
City & County of Denver
5.000%, 08/01/48		610,000		699,353
Series A 5.000%, 08/01/44		850,000		976,769
City of Columbia SC Waterworks & Sewer System Revenue
5.000%, 02/01/42		390,000		461,280
City of New York NY
3.760%, 12/01/27		730,000		761,675
Colorado Health Facilities Authority
5.250%, 02/01/31		325,000		342,235
Commonwealth Financing Authority
4.144%, 06/01/38		730,000		766,142
Series A 3.864%, 06/01/38		720,000		731,491
Commonwealth of Puerto Rico 8.000%, 07/01/35 (f)		5,000,000		2,593,750
Connecticut State Health & Educational Facility Authority 5.000%, 07/01/45	1,640,000		1,807,159
County of King WA Sewer Revenue 5.000%, 07/01/47		520,000		579,691
County of Wake NC Series B 5.000%, 03/01/20		510,000		526,228
5.000%, 03/01/21		730,000		778,158
5.000%, 03/01/22		730,000		801,868
5.000%, 03/01/23		740,000		836,511
Dallas Area Rapid Transit
5.000%, 12/01/41		680,000		776,159
5.000%, 12/01/46		920,000		1,045,644
DuBois Hospital Authority
5.000%, 07/15/43		360,000		406,847
Dutchess County Local Development Corp.
5.000%, 07/01/46		1,025,000		1,147,897
Grand Parkway Transportation Corp.
5.000%, 10/01/43		940,000		1,106,474
Grant County Public Utility District No. 2
4.584%, 01/01/40		315,000		345,331
Great Lakes Water Authority Water Supply System Revenue
5.250%, 07/01/33		150,000		178,049
Idaho Health Facilities Authority
5.000%, 12/01/47		320,000		365,674
Indiana Finance Authority
5.000%, 10/01/45		870,000		976,497
Indiana Housing & Community Development Authority
3.800%, 07/01/38		260,000		267,974
JobsOhio Beverage System
3.985%, 01/01/29		1,335,000		1,414,032
Kentucky Economic Development Finance Authority
5.250%, 06/01/50		330,000		353,443
Kentucky Turnpike Authority
5.000%, 07/01/20		370,000		385,137
Las Vegas Valley Water District
5.000%, 06/01/46		300,000		342,864
Lexington County Health Services District, Inc.
5.000%, 11/01/41		300,000		329,043
Los Angeles, CA Community College District, Build America Bond
6.600%, 08/01/42		1,930,000		2,780,821
Los Angeles, CA Department of Water & Power Revenue, Build America Bond
6.603%, 07/01/50		445,000		666,819
Los Angeles, CA Unified School District, Build America Bond
6.758%, 07/01/34		640,000		851,546
Louisiana Public Facilities Authority
5.000%, 07/01/48		340,000		385,519
Louisville & Jefferson County Metropolitan Sewer District
5.000%, 05/15/25		540,000		639,144
Maryland Stadium Authority
5.000%, 05/01/41		460,000		524,437
Massachusetts Bay Transportation Authority
5.000%, 07/01/39		320,000		376,160
5.000%, 07/01/40		340,000		398,738
Massachusetts Development Finance Agency
5.000%, 07/01/43		680,000		771,895
5.000%, 07/01/47		500,000		563,930
5.000%, 07/01/48		760,000		858,587
5.000%, 07/01/53		720,000		806,393
Massachusetts Educational Financing Authority
5.000%, 01/01/22		500,000		540,055
Massachusetts Housing Finance Agency
4.500%, 12/01/39		265,000		276,827
4.500%, 12/01/48		330,000		347,642
4.600%, 12/01/44		285,000		297,939
Massachusetts Port Authority
5.000%, 07/01/43		460,000		521,672
Massachusetts Water Resources Authority
5.000%, 08/01/40		270,000		313,465
Mesquite Independent School District
5.000%, 08/15/42		570,000		658,863
Metropolitan Atlanta Rapid Transit Authority
5.000%, 07/01/45		400,000		462,664
Metropolitan Government of Nashville & Davidson County, Health & Educational Facilities Board
5.000%, 07/01/40		260,000		291,234
5.000%, 07/01/46		690,000		770,833
Metropolitan St. Louis Sewer District
5.000%, 05/01/42		710,000		830,111
Series A 5.000%, 05/01/47		650,000		757,919
Metropolitan Transportation Authority
5.000%, 11/15/45		250,000		278,083

BHFTII-26

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
Metropolitan Transportation Authority, Build America Bonds
6.668%, 11/15/39		170,000	$	229,418
6.687%, 11/15/40		590,000		796,600
6.814%, 11/15/40		1,005,000		1,370,569
Metropolitan Washington Airports Authority
5.000%, 10/01/32		890,000		1,036,254
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Build America Bond
7.462%, 10/01/46		560,000		844,889
Miami-Dade County, FL Aviation Revenue
3.354%, 10/01/29		195,000		194,438
3.454%, 10/01/30		355,000		353,143
3.504%, 10/01/31		330,000		329,403
5.000%, 10/01/38		1,025,000		1,151,423
5.000%, 10/01/40		500,000		573,720
Series C 4.062%, 10/01/31		495,000		520,502
Michigan Finance Authority
5.000%, 11/15/41		330,000		369,683
5.000%, 12/01/47		1,810,000		1,961,660
Michigan State Housing Development Authority
3.550%, 10/01/33		300,000		308,820
4.000%, 10/01/43		290,000		300,292
4.050%, 10/01/48		140,000		144,271
4.150%, 10/01/53		690,000		711,638
Mississippi State Hospital Equipment & Facilities Authority, Baptist Memorial Health Care
5.000%, 09/01/46		630,000		690,820
Missouri State Health & Educational Facilities Authority Revenue
5.000%, 11/15/29		340,000		398,150
Municipal Electric Authority of Georgia, Build America Bond
6.637%, 04/01/57		1,000,000		1,125,400
New Hope Cultural Education Facilities Finance Corp.
5.000%, 08/15/47		380,000		435,769
New Jersey State Turnpike Authority, Build America Bond
7.414%, 01/01/40		1,451,000		2,179,431
New Jersey Transportation Trust Fund Authority
5.000%, 06/15/29		380,000		434,059
New Orleans Aviation Board
5.000%, 01/01/40		530,000		582,719
New York City Housing Development Corp
3.700%, 11/01/38		320,000		327,933
3.850%, 11/01/43		950,000		974,662
4.000%, 11/01/53		1,010,000		1,031,361
New York City Transitional Finance Authority Building Aid Revenue
5.000%, 07/15/40		370,000		424,079
New York City Transitional Finance Authority Future Tax Secured Revenue
3.050%, 05/01/27		1,670,000		1,675,260
3.550%, 05/01/25		1,475,000		1,533,557
3.900%, 08/01/31		1,310,000		1,366,395
5.000%, 05/01/36		390,000		453,956
New York City Water & Sewer System
5.375%, 06/15/43		2,360,000		2,500,066
5.500%, 06/15/43		2,825,000		3,003,455
5.882%, 06/15/44		1,150,000		1,572,084
New York City Water & Sewer System, Build America Bonds
5.440%, 06/15/43		505,000		651,526
5.750%, 06/15/41		675,000		894,247
New York Convention Center Development Corp.
5.000%, 11/15/40		370,000		420,945
5.000%, 11/15/46		920,000		1,059,868
New York State Dormitory Authority
5.000%, 02/15/36		620,000		734,254
5.000%, 02/15/37		360,000		424,764
5.000%, 02/15/38		330,000		388,219
5.000%, 02/15/40		380,000		444,684
New York State Dormitory Authority, Build America Bond
5.389%, 03/15/40		1,075,000		1,299,127
New York State Urban Development Corp.
3.120%, 03/15/25		980,000		999,865
3.250%, 03/15/25		640,000		657,517
3.320%, 03/15/29		1,285,000		1,293,083
New York Transportation Development Corp.
5.000%, 07/01/46		340,000		368,019
5.250%, 01/01/50		2,060,000		2,246,657
North Carolina Department of Transportation
5.000%, 06/30/54		1,000,000		1,070,680
North Carolina Turnpike Authority
5.000%, 01/01/35		360,000		427,169
Ohio Turnpike & Infrastructure Commission
5.000%, 02/15/48		550,000		598,670
Orange County Local Transportation Authority, Build America Bond
6.908%, 02/15/41		1,420,000		1,933,188
Oregon School Boards Association
4.759%, 06/30/28		1,740,000		1,898,584
5.490%, 06/30/23		785,000		879,867
Pennsylvania Economic Development Financing Authority
5.000%, 12/31/38		510,000		561,275
Pennsylvania Turnpike Commission
5.000%, 12/01/46		320,000		361,344
Series A 5.000%, 12/01/48		3,300,000		3,867,567
Series B 5.000%, 12/01/43		1,010,000		1,158,793
Port Authority of New York & New Jersey
4.458%, 10/01/62		1,290,000		1,445,226
4.960%, 08/01/46		1,910,000		2,328,691
5.000%, 11/15/47		290,000		333,114
Port of Seattle
5.000%, 05/01/43		260,000		294,635
Public Power Generation Agency Revenue
5.000%, 01/01/35		360,000		410,620
Regents of the University of California Medical Center Pooled Revenue, Build America Bonds
6.583%, 05/15/49		1,455,000		2,014,244
Series L 5.000%, 05/15/47		460,000		522,049
Riverside, CA, Electric Revenue, Buld America Bond
7.605%, 10/01/40		525,000		794,241
Royal Oak Hospital Finance Authority
5.000%, 09/01/39		450,000		493,173

BHFTII-27

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
Sacramento County Sanitation Districts Financing Authority
2.290%, 3M LIBOR + 0.000%, 12/01/35 (b)		560,000	$	548,251
Salt Lake City Corp. Airport Revenue
5.000%, 07/01/47		1,510,000		1,721,955
Salt River Arizona Project Agricultural Improvement & Power District
5.000%, 01/01/36		520,000		626,751
Series A 5.000%, 12/01/45		1,870,000		2,126,489
San Antonio TX Electric & Gas Systems Revenue
5.000%, 02/01/48		250,000		273,070
San Antonio Water System
5.000%, 05/15/39		530,000		596,579
San Antonio, TX Electric & Gas Systems Revenue, Build Amereica Bond
5.808%, 02/01/41		470,000		622,360
San Diego County Regional Airport Authority
5.000%, 07/01/47		470,000		544,848
San Diego Public Facilities Financing Authority
5.000%, 05/15/39		475,000		554,871
San Francisco City & County Airport Comm-San Francisco International Airport
5.000%, 05/01/46		980,000		1,106,547
San Jose Redevelopment Agency Successor Agency
2.958%, 08/01/24		1,195,000		1,204,297
South Carolina Ports Authority
5.000%, 07/01/55		260,000		290,540
South Carolina Public Service Authority
2.388%, 12/01/23		1,020,000		987,656
State of California
4.600%, 04/01/38		3,765,000		4,011,080
State of California General Obligation Unlimited, Build America Bonds
7.300%, 10/01/39		860,000		1,244,446
7.350%, 11/01/39		300,000		436,662
7.500%, 04/01/34		1,125,000		1,624,106
7.550%, 04/01/39		1,375,000		2,088,240
State of Connecticut
3.310%, 01/15/26		1,445,000		1,452,138
State of Illinois
Series A 5.000%, 05/01/20		400,000		411,368
5.000%, 12/01/24		250,000		273,650
Series D 5.000%, 11/01/22		240,000		258,751
5.000%, 11/01/24		1,280,000		1,399,808
5.000%, 11/01/25		3,440,000		3,792,462
5.000%, 11/01/26		1,240,000		1,368,538
State of Illinois, General Obligation Unlimited
5.100%, 06/01/33		4,320,000		4,244,918
State of Missouri
3.086%, 09/15/51		1,230,000		1,098,980
3.651%, 01/15/46		330,000		333,066
State of Ohio
5.000%, 05/01/36		1,015,000		1,159,039
5.000%, 05/01/37		760,000		866,347
State of Texas
5.000%, 04/01/40		380,000		438,870
5.000%, 04/01/43		610,000		701,372
State of Virginia
5.000%, 12/01/40		270,000		321,216
State of Washington General Obligation Unlimited
5.000%, 08/01/40		1,300,000		1,495,097
5.000%, 02/01/41		610,000		711,297
5.000%, 08/01/41		400,000		469,812
State of Wisconsin
3.154%, 05/01/27		690,000		693,830
5.000%, 05/01/36		490,000		561,618
5.000%, 05/01/38		500,000		572,070
Series A 5.000%, 05/01/25		500,000		594,480
Sumter Landing Community Development District
4.172%, 10/01/47		385,000		391,098
Tennessee Housing Development Agency
3.750%, 07/01/38		280,000		290,226
3.850%, 07/01/43		130,000		133,208
3.950%, 01/01/49		100,000		102,740
Texas Municipal Gas Acquisition & Supply Corp. I
6.250%, 12/15/26		260,000		301,964
Texas Private Activity Bond Surface Transportation Corp.
5.000%, 12/31/55		170,000		183,801
Tobacco Settlement Finance Authority
7.467%, 06/01/47		1,200,000		1,197,300
Tobacco Settlement Financing Corp.
6.706%, 06/01/46		275,000		265,689
TSASC, Inc.
5.000%, 06/01/41		560,000		604,150
University of California CA, Revenue
3.063%, 07/01/25		665,000		676,717
4.601%, 05/15/31		650,000		725,420
4.858%, 05/15/12		980,000		1,102,539
University of Houston
5.000%, 02/15/36		1,040,000		1,200,919
University of Oregon
5.000%, 04/01/46		380,000		432,968
University of Texas 2.836%, 05/15/27		805,000		804,936
Virginia Small Business Financing Authority 5.000%, 12/31/52		710,000		775,561
5.000%, 12/31/56		720,000		784,346
Washington Metropolitan Area Transit Authority 5.000%, 07/01/36		290,000		343,227
Water Revenue Authority of Georgia, Build America Bond 5.000%, 11/01/40		250,000		284,868
Weld County School District No. 2 5.250%, 12/01/41		560,000		660,834
West Virginia Hospital Finance Authority 5.000%, 06/01/19		365,000		366,982
5.000%, 06/01/20		390,000		404,024
5.000%, 06/01/21		390,000		415,459
5.000%, 06/01/22		425,000		465,299
5.000%, 06/01/23		355,000		397,930
5.000%, 06/01/24		375,000		429,255

BHFTII-28

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Municipals—(Continued)

Security Description	Principal Amount*		Value
Wisconsin Health & Educational Facilities Authority 5.000%, 12/15/44		310,000	$	340,830
Total Municipals (Cost $180,191,326)				183,368,556
Mortgage-Backed Securities—4.8%
Collateralized Mortgage Obligations—1.8%
Alternative Loan Trust 6.000%, 04/25/37		147,950		105,061
American Home Mortgage Assets Trust 3.317%, 12M MTA + 0.920%, 11/25/46 (b)		294,287		148,113
3.337%, 12M MTA + 0.940%, 10/25/46 (b)		509,630		449,900
APS Resecuritization Trust 5.086%, 1M LIBOR + 2.600%, 04/27/47 (144A) (b)		628,740		639,043
5.336%, 1M LIBOR + 2.850%, 09/27/46 (144A) (b)		2,739,335		2,823,908
Ari Investments LLC 4.480%, 01/06/25 (g)		1,004,277		1,004,277
Banc of America Alternative Loan Trust 5.500%, 10/25/35		1,131,239		1,124,249
Bear Stearns Asset-Backed Securities Trust 6.250%, 12/25/35		2,145,577		2,023,410
6.250%, 02/25/36		2,869,966		2,552,007
CCRE Commercial Mortgage 4.637%, 01/15/39		728,000		755,035
Chase Mortgage Finance Trust 6.000%, 12/25/37		9,224,028		6,779,018
CIM Trust 3.015%, 06/25/57 (144A) (b)		609,526		596,238
4.000%, 02/25/49 (144A) (b)		1,810,000		1,833,519
Countrywide Alternative Loan Trust 2.626%, 1M LIBOR + 0.140%, 04/25/47 (b)		807,550		767,424
2.676%, 1M LIBOR + 0.190%, 10/25/46 (b)		1,098,592		1,053,125
2.678%, 1M LIBOR + 0.190%, 03/20/47 (b)		1,772,990		1,502,078
2.688%, 1M LIBOR + 0.200%, 07/20/46 (b)		2,837,416		2,184,729
2.696%, 1M LIBOR + 0.210%, 07/25/46 (b)		1,449,569		1,381,030
2.716%, 1M LIBOR + 0.230%, 11/25/36 (b)		557,978		442,988
2.836%, 1M LIBOR + 0.350%, 06/25/35 (b)		1,564,662		1,367,757
3.086%, 1M LIBOR + 0.600%, 01/25/36 (b)		607,456		518,944
4.127%, 12M MTA + 1.730%, 11/25/46 (b)		3,124,229		2,702,395
5.500%, 04/25/37		878,930		688,442
6.000%, 05/25/37		3,167,552		2,181,136
Countrywide Home Loan Mortgage Pass-Through Trust 3.357%, 12M MTA + 0.960%, 04/25/46 (b)		4,027,339		2,009,073
Credit Suisse Mortgage Capital Certificates 2.850%, 1M LIBOR + 0.180%, 03/27/36 (144A) (b)		2,099,127		1,780,621
6.500%, 10/27/37 (144A)		2,615,084		1,489,197
CSFB Mortgage-Backed Pass-Through Certificates 3.836%, 1M LIBOR + 1.350%, 11/25/35 (b)		465,456		159,646
Deutsche ALT-A Securities Mortgage Loan Trust 2.656%, 1M LIBOR + 0.170%, 08/25/47 (b)		547,931		379,400
Deutsche ALT-A Securities, Inc. Alternate Loan Trust 2.979%, 1M LIBOR + 0.500%, 01/27/37 (144A) (b)		114,650		108,942
GreenPoint Mortgage Funding Trust 4.397%, 12M MTA + 2.000%, 03/25/36 (b)		199,012		192,242
Collateralized Mortgage Obligations—(Continued)
GSR Mortgage Loan Trust 6.000%, 07/25/37		698,765		614,096
IndyMac INDX Mortgage Loan Trust 3.743%, 09/25/37 (b)		891,406		626,366
JPMorgan Alternative Loan Trust 2.696%, 1M LIBOR + 0.210%, 03/25/37 (b)		1,241,914		1,150,062
4.258%, 05/25/37 (b)		306,555		274,608
JPMorgan Mortgage Trust 6.500%, 08/25/36		276,344		204,031
MASTR Resecuritization Trust 2.924%, 08/25/37 (144A) (b)		471,949		332,723
MCM Capital LLC Zero Coupon, 10/25/28		5,190,051		1,479,165
4.000%, 10/25/28		3,456,861		3,437,340
Merrill Lynch Mortgage Investors Trust 4.398%, 05/25/36 (b)		1,601,404		1,460,108
Mortgage Loan Resecuritization Trust 2.829%, 1M LIBOR + 0.340%, 04/16/36 (144A) (b)		3,755,230		3,338,150
New Residential Mortgage Loan Trust 4.335%, 02/26/24 (144A)		1,962,763		1,978,918
Nomura Asset Acceptance Corp. Alternative Loan Trust 6.634%, 05/25/36		262,196		94,820
Seasoned Credit Risk Transfer Trust
Zero Coupon, 07/25/56 (144A) (k)		833,505		68,600
1.240%, 07/25/56 (144A) (b) (c)		1,104,951		129,413
4.319%, 05/25/57 (b)		169,765		86,136
4.750%, 07/25/56 (144A) (b)		540,000		529,631
4.750%, 05/25/57 (b)		150,000		146,289
Structured Adjustable Rate Mortgage Loan Trust 3.961%, 04/25/36 (b)		368,728		307,185
4.166%, 04/25/47 (b)		987,444		740,529
Structured Asset Mortgage Investments Trust 2.676%, 1M LIBOR + 0.190%, 06/25/36 (b)		1,420,687		1,341,849
2.696%, 1M LIBOR + 0.210%, 05/25/46 (b)		269,816		229,075
2.716%, 1M LIBOR + 0.230%, 02/25/36 (b)		1,901,021		1,825,956
				62,137,997
Commercial Mortgage-Backed Securities—3.0%
AOA Mortgage Trust 3.010%, 12/13/29 (144A) (b)		460,000		452,437
AREIT Trust 3.334%, 1M LIBOR + 0.850%, 02/14/35 (144A) (b)		183,474		182,788
Ashford Hospitality Trust, Inc. 4.584%, 1M LIBOR + 2.100%, 04/15/35 (144A) (b)		640,000		639,996
Atrium Hotel Portfolio Trust 4.434%, 1M LIBOR + 1.950%, 12/15/36 (144A) (b)		1,540,000		1,538,056
5.534%, 1M LIBOR + 3.050%, 12/15/36 (144A) (b)		480,000		481,797
BAMLL Commercial Mortgage Securities Trust 3.596%, 04/14/33 (144A) (b)		250,000		241,687
3.606%, 08/14/34 (144A) (b)		2,470,000		2,293,477
3.984%, 1M LIBOR + 1.500%, 11/15/32 (144A) (b)		300,000		300,000
4.484%, 1M LIBOR + 2.000%, 11/15/32 (144A) (b)		630,000		630,000
Banc of America Commercial Mortgage Trust 0.630%, 02/15/50 (b) (c)		4,070,000		180,831
1.287%, 02/15/50 (144A) (b)(c)		2,000,000		169,640
5.416%, 01/15/49 (b)		141,911		142,366

BHFTII-29

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
Bancorp Commercial Mortgage Trust (The) 3.334%, 1M LIBOR + 0.850%, 01/15/33 (144A) (b)		640,252	$	634,962
BANK 4.217%, 08/15/61 (b)		200,000		215,459
Bayview Commercial Asset Trust 2.736%, 1M LIBOR + 0.250%, 10/25/36 (144A) (b)		229,846		217,895
2.786%, 1M LIBOR + 0.300%, 01/25/36 (144A) (b)		126,600		120,874
2.786%, 1M LIBOR + 0.300%, 10/25/36 (144A) (b)		233,879		222,272
2.846%, 1M LIBOR + 0.360%, 04/25/36 (144A) (b)		145,985		140,701
2.936%, 1M LIBOR + 0.450%, 01/25/36 (144A) (b)		94,246		90,119
3.986%, 1M LIBOR + 1.500%, 12/25/37 (144A) (b)		720,000		606,119
BB-UBS Trust 0.596%, 11/05/36 (144A) (b) (c)		85,480,000		2,746,643
4.026%, 11/05/36 (144A) (b)		330,000		321,616
BBCMS Mortgage Trust 3.206%, 1M LIBOR + 0.722%, 03/15/37 (144A) (b)		280,000		277,369
Bear Stearns Commercial Mortgage Securities Trust 5.460%, 01/12/45 (b)		266,706		265,556
Benchmark Mortgage Trust 1.049%, 03/15/52 (b) (c)		5,798,446		482,807
4.016%, 03/15/52		91,000		96,641
4.208%, 07/15/51		400,000		430,398
4.971%, 03/15/52 (b)		799,000		856,030
BHMS Mortgage Trust 3.734%, 1M LIBOR + 1.250%, 07/15/35 (144A) (b)		780,000		778,768
4.384%, 1M LIBOR + 1.900%, 07/15/35 (144A) (b)		270,000		269,490
BWAY Mortgage Trust 3.446%, 03/10/33 (144A)		1,495,000		1,481,719
3.454%, 03/10/33 (144A)		2,690,000		2,743,285
3.633%, 03/10/33 (144A)		600,000		598,116
BX Commercial Mortgage Trust 5.484%, 1M LIBOR + 3.000%, 11/15/35 (144A) (b)		3,622,713		3,634,062
BXP Trust 3.552%, 08/13/37 (144A) (b)		760,000		712,501
CCRESG Commercial Mortgage Trust 5.488%, 04/10/29 (144A) (b)		230,000		234,298
CD Commercial Mortgage Trust 3.514%, 05/10/50 (b)		10,000		10,251
CD Mortgage Trust 3.631%, 02/10/50		350,000		361,752
5.648%, 10/15/48		411,227		424,868
CFCRE Commercial Mortgage Trust 0.728%, 05/10/58 (b) (c)		2,370,000		107,398
1.727%, 05/10/58 (b) (c)		2,507,625		231,449
CGDBB Commercial Mortgage Trust 3.274%, 1M LIBOR + 0.790%, 07/15/32 (144A) (b)		1,490,000		1,490,002
4.084%, 1M LIBOR + 1.600%, 07/15/32 (144A) (b)		1,110,000		1,111,394
4.634%, 1M LIBOR + 2.150%, 07/15/32 (144A) (b)		1,680,000		1,679,999
Citigroup Commercial Mortgage Trust 4.834%, 04/15/49 (b)		40,000		42,033
CLNS Trust 5.993%, 1M LIBOR + 3.500%, 06/11/32 (144A) (b)		291,000		292,091
Commercial Mortgage Pass-Through Certificates Mortgage Trust 0.060%, 02/10/35 (144A) (b) (c)		60,958,000		335,879
1.061%, 03/10/46 (b) (c)		24,960,851		742,972
3.179%, 10/10/36 (144A) (b)		270,000		250,603
Commercial Mortgage-Backed Securities—(Continued)
Commercial Mortgage Pass-Through Certificates Mortgage Trust
3.183%, 02/10/48		513,000		518,025
3.550%, 07/15/47		550,000		563,727
3.685%, 05/10/48 (144A) (b)		730,000		725,080
3.796%, 08/10/47		540,000		562,085
3.977%, 05/10/47		1,394,000		1,459,979
4.006%, 04/10/47		400,000		419,042
4.051%, 04/10/47		1,896,000		1,987,272
4.236%, 02/10/47 (b)		320,000		337,907
4.300%, 07/10/48 (b)		1,600,000		1,628,960
4.418%, 12/10/47 (b)		420,000		431,242
4.544%, 08/10/48 (b)		1,256,000		1,276,120
4.749%, 1M LIBOR + 2.250%, 02/13/32 (144A) (b)		550,000		550,173
5.640%, 06/10/44 (144A) (b)		179,570		182,051
5.749%, 1M LIBOR + 3.250%, 02/13/32 (144A) (b)		50,000		50,031
Commercial Mortgage Trust 3.685%, 05/10/48 (144A) (b)		1,740,000		1,734,459
4.099%, 1M LIBOR + 1.600%, 02/13/32 (144A) (b)		1,280,000		1,280,000
Core Industrial Trust 3.077%, 02/10/34 (144A)		1,975,068		1,989,908
3.849%, 02/10/34 (144A) (b)		2,360,000		2,343,480
Credit Suisse First Boston Mortgage Securities Corp. 4.952%, 07/15/37 (b)		58,380		59,061
5.234%, 10/15/39 (144A) (b)		250,000		250,086
Credit Suisse Mortgage Capital Certificates Trust 3.434%, 1M LIBOR + 0.950%, 12/15/30 (144A) (b)		280,000		279,026
4.084%, 1M LIBOR + 1.600%, 11/15/33 (144A) (b)		201,070		201,813
CSAIL Commercial Mortgage Trust 0.135%, 11/15/50 (b) (c)		3,940,000		65,754
3.000%, 03/15/52 (144A)		347,808		283,652
3.504%, 06/15/57		320,000		327,427
4.033%, 04/15/51 (b)		882,000		929,543
4.053%, 03/15/52		996,000		1,053,810
5.147%, 03/15/52 (b)		744,740		782,030
DBJPM Mortgage Trust 1.000%, 06/10/50 (b) (c)		2,060,000		128,159
DBUBS Mortgage Trust 3.452%, 10/10/34 (144A)		850,000		868,018
3.530%, 10/10/34 (144A) (b)		1,710,000		1,637,594
Eleven Madison Trust Mortgage Trust 3.555%, 09/10/35 (144A) (b)		440,000		452,033
GAHR Commercial Mortgage Trust 3.382%, 12/15/34 (144A) (b)		178,300		176,621
GPMT, Ltd. 3.387%, 1M LIBOR + 0.900%, 11/21/35 (144A) (b)		662,664		661,366
GS Mortgage Securities Corp. II 3.436%, 12/10/27 (144A) (b)		11,042,358		10,972,469
5.366%, 05/03/32 (144A)		840,000		945,027
GS Mortgage Securities Corp. Trust 2.856%, 05/10/34 (144A)		710,000		706,048
3.784%, 1M LIBOR + 1.300%, 07/15/32 (144A) (b)		80,000		79,675
3.984%, 1M LIBOR + 1.500%, 07/15/32 (144A) (b)		170,000		169,521
4.284%, 1M LIBOR + 1.800%, 07/15/32 (144A) (b)		70,000		69,804
4.984%, 1M LIBOR + 2.500%, 07/15/32 (144A) (b)		30,000		29,843

BHFTII-30

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
GS Mortgage Securities Trust
3.000%, 08/10/50 (144A)		240,000	$	211,141
3.931%, 09/10/47		800,000		838,630
4.412%, 07/10/48 (b)		500,000		514,833
4.529%, 04/10/47 (b)		50,000		50,627
HMH Trust 3.062%, 07/05/31 (144A)		1,210,000		1,207,651
IMT Trust 3.478%, 06/15/34 (144A)		540,000		551,859
3.497%, 06/15/34 (144A) (b)		570,000		563,449
JPMBB Commercial Mortgage Securities Trust 0.800%, 05/15/48 (b) (c)		1,125,117		31,747
0.864%, 09/15/47 (b) (c)		1,490,663		54,978
3.775%, 08/15/47		550,000		571,690
3.801%, 09/15/47		220,000		228,670
4.117%, 12/15/48 (144A) (b)		300,000		289,167
JPMCC Commercial Mortgage Securities Trust 3.490%, 07/15/50		320,000		327,371
3.896%, 03/15/50 (b)		330,000		326,799
4.050%, 09/15/50		110,000		112,774
4.646%, 03/15/50 (144A) (b)		650,000		633,544
JPMDB Commercial Mortgage Securities Trust 0.750%, 12/15/49 (144A) (b) (c)		2,067,000		99,420
JPMorgan Chase Commercial Mortgage Securities Trust 0.514%, 04/15/46 (b) (c)		4,900,000		100,075
0.750%, 08/15/49 (144A) (b) (c)		5,300,000		249,172
2.854%, 10/06/38 (144A) (b)		1,670,000		1,633,894
3.784%, 1M LIBOR + 1.300%, 06/15/45 (144A) (b)		130,000		132,607
4.241%, 01/15/49 (b)		970,000		929,859
Lehman Brothers Small Balance Commercial Mortgage Trust 2.736%, 1M LIBOR + 0.250%, 03/25/37 (144A) (b)		517,309		501,664
LSTAR Commercial Mortgage Trust 1.110%, 03/10/50 (144A) (b) (c)		889,242		40,407
Merrill Lynch Mortgage Trust 6.318%, 09/12/42 (144A) (b)		490,000		498,640
Morgan Stanley Bank of America Merrill Lynch Trust 1.187%, 12/15/47 (144A) (b) (c)		1,810,000		99,355
1.432%, 11/15/49 (b) (c)		1,089,549		84,554
3.060%, 10/15/48 (144A)		322,000		284,107
3.892%, 06/15/47		3,000,000		3,135,021
4.131%, 07/15/50 (144A) (b)		297,000		279,298
4.528%, 10/15/48 (b)		170,000		176,691
4.558%, 05/15/50 (b)		300,000		301,332
Morgan Stanley Capital Trust 1.199%, 03/15/52 (b) (c)		2,399,000		199,504
2.201%, 06/15/50 (144A) (b) (c)		1,190,000		177,417
2.546%, 06/15/50 (144A)		1,510,000		1,260,216
3.446%, 07/13/29 (144A) (b)		540,000		530,171
3.530%, 06/15/50		40,000		40,896
4.031%, 05/15/48 (144A) (b)		110,000		101,863
4.031%, 05/15/48 (b)		150,000		151,023
4.071%, 03/15/52		468,000		497,681
4.177%, 07/15/51		140,000		150,010
4.281%, 06/15/50 (b)		339,000		336,409
4.434%, 1M LIBOR + 1.950%, 11/15/34 (144A) (b)		330,000		330,617
Commercial Mortgage-Backed Securities—(Continued)
Morgan Stanley Capital Trust
5.034%, 1M LIBOR + 2.550%, 07/15/35 (144A) (b)		640,000		635,587
5.084%, 1M LIBOR + 2.600%, 11/15/34 (144A) (b)		1,977,000		1,965,843
5.266%, 10/12/52 (b)		40,537		40,642
5.534%, 1M LIBOR + 3.050%, 11/15/34 (144A) (b)		610,000		612,666
Natixis Commercial Mortgage Securities Trust 3.439%, 1M LIBOR + 0.950%, 06/15/35 (144A) (b)		240,000		237,630
Olympic Tower Mortgage Trust
0.379%, 05/10/39 (144A) (b) (c)		13,300,000		382,974
3.945%, 05/10/39 (144A) (b)		1,049,000		986,506
One Market Plaza Trust
Zero Coupon, 02/10/32 (144A) (b) (c)		4,222,000		4
0.090%, 02/10/32 (144A) (b) (c)		21,110,000		86,551
Park Avenue Mortgage Trust 4.603%, 1M LIBOR + 2.119%, 09/15/34 (144A) (b)		1,750,000		1,755,464
Park Avenue Trust 0.149%, 06/05/37 (144A) (b) (c)		5,000,000		70,825
3.657%, 06/05/37 (144A) (b)		207,000		196,867
Prima Capital CRE Securitization, Ltd. 4.000%, 08/24/49 (144A)		260,000		259,228
Resource Capital Corp., Ltd. 3.284%, 1M LIBOR + 0.800%, 07/15/34 (144A) (b)		72,957		72,736
4.484%, 1M LIBOR + 2.000%, 07/15/34 (144A) (b)		331,911		329,240
UBS Commercial Mortgage Trust 1.009%, 12/15/51 (b) (c)		1,437,701		109,348
Velocity Commercial Capital Loan Trust 3.661%, 10/25/46 (b)		150,000		153,420
4.240%, 11/25/47 (144A) (b)		210,401		210,209
4.450%, 05/25/47 (144A) (b)		150,000		149,243
4.458%, 10/25/46 (b)		100,000		100,700
5.000%, 11/25/47 (144A) (b)		123,054		122,747
5.350%, 05/25/47 (144A) (b)		150,000		151,563
5.498%, 10/25/46 (b)		140,000		144,519
7.226%, 10/25/46 (b)		160,000		166,263
Waldorf Astoria Boca Raton Trust 3.834%, 1M LIBOR + 1.350%, 06/15/29 (144A) (b)		1,590,000		1,589,958
Wells Fargo Commercial Mortgage Trust 0.762%, 05/15/51 (b) (c)		3,979,407		216,835
0.928%, 12/15/48 (b) (c)		1,305,288		60,976
1.264%, 08/15/49 (144A) (b) (c)		1,430,000		106,363
2.600%, 11/15/50 (144A) (b)		505,000		413,509
3.241%, 12/15/48 (144A)		483,000		407,843
3.349%, 1M LIBOR + 0.850%, 12/13/31 (144A) (b)		490,000		488,699
3.418%, 09/15/50		361,000		365,952
3.453%, 07/15/50		449,000		455,324
3.540%, 05/15/48		260,000		266,155
3.599%, 12/15/48 (b)		35,000		32,993
3.718%, 12/15/48		190,000		196,368
3.749%, 06/15/36 (144A) (b)		270,000		279,419
3.809%, 12/15/48		630,000		657,394
4.355%, 09/15/50 (144A) (b)		150,000		143,031
4.641%, 1M LIBOR + 2.157%, 12/15/36 (144A) (b)		270,000		270,233
WF-RBS Commercial Mortgage Trust 3.434%, 1M LIBOR + 0.950%, 03/15/44 (144A) (b)		19,927		19,986

BHFTII-31

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
WF-RBS Commercial Mortgage Trust
3.678%, 08/15/47		595,000	$	615,416
3.758%, 09/15/57 (b)		1,540,000		1,495,447
				107,538,896
Total Mortgage-Backed Securities (Cost $171,459,215)				169,676,893
Foreign Government—3.3%
Sovereign—3.3%
Argentina Bonar Bonds 8.000%, 10/08/20		1,272,000		1,204,454
8.750%, 05/07/24 (l)		1,255,133		1,128,055
Argentine Republic Government International Bonds
4.625%, 01/11/23		2,058,000		1,685,502
6.875%, 04/22/21		885,000		807,562
7.625%, 04/22/46		1,259,000		991,462
Bonos de la Nacion Argentina con Ajuste por CER 4.000%, 03/06/20 (ARS) (l)		12,117,000		411,312
Brazilian Government International Bond 4.500%, 05/30/29		4,392,000		4,310,792
Colombia Government International Bond 3.875%, 04/25/27		8,170,000		8,296,717
Colombian TES 7.000%, 06/30/32 (COP)		21,944,900,000		7,003,166
Egypt Government International Bonds 4.750%, 04/16/26 (144A) (EUR)		502,000		554,293
5.577%, 02/21/23 (144A)		348,000		345,446
5.750%, 04/29/20		1,166,000		1,178,744
6.125%, 01/31/22		592,000		598,870
6.875%, 04/30/40		831,000		762,256
7.903%, 02/21/48 (144A)		502,000		486,258
8.700%, 03/01/49 (144A)		535,000		556,400
Hungary Government International Bond 5.375%, 03/25/24		2,098,000		2,298,724
Indonesia Government International Bond 4.100%, 04/24/28		1,470,000		1,493,749
Indonesia Treasury Bonds 8.250%, 05/15/29 (IDR)		178,185,000,000		13,071,071
8.375%, 03/15/34 (IDR)		28,764,000,000		2,072,887
8.375%, 04/15/39 (IDR)		25,626,000,000		1,842,571
Mexican Bonos 7.500%, 06/03/27 (MXN)		18,052,300		900,529
7.750%, 11/23/34 (MXN)		13,471,800		660,172
8.500%, 05/31/29 (MXN)		65,352,000		3,461,120
10.000%, 11/20/36 (MXN)		20,000,000		1,185,827
Mexico Government International Bonds 4.150%, 03/28/27 (e)		11,493,000		11,684,933
5.750%, 10/12/10		1,368,000		1,400,148
Nigeria Government International Bond 9.248%, 01/21/49 (144A)		636,000		704,459
Panama Government International Bond 3.875%, 03/17/28		3,307,000		3,434,353
Sovereign—(Continued)
Peruvian Government International Bond 4.125%, 08/25/27 (e)		2,856,000		3,115,925
Philippine Government International Bond 3.000%, 02/01/28		5,114,000		5,050,443
Qatar Government International Bonds 4.000%, 03/14/29 (144A) (e)		2,300,000		2,370,408
4.817%, 03/14/49 (144A) (e)		1,431,000		1,504,608
Republic of South Africa Government Bonds 6.250%, 03/31/36 (ZAR)		189,105,000		9,511,809
8.750%, 02/28/48 (ZAR)		22,549,000		1,411,349
9.000%, 01/31/40 (ZAR)		32,839,000		2,116,191
Russian Federal Bond - OFZ 6.900%, 05/23/29 (RUB)		739,469,000		10,234,120
South Africa Government Bond 8.750%, 01/31/44 (ZAR)		32,441,000		2,034,155
Turkey Government International Bond 7.625%, 04/26/29		1,235,000		1,222,650
Ukraine Government International Bond 9.750%, 11/01/28		470,000		485,628
Uruguay Government International Bond 4.375%, 10/27/27 (l)		3,790,000		3,992,765
Total Foreign Government (Cost $118,345,642)				117,581,883
Floating Rate Loans (m)—1.2%
Commercial Services—0.2%
Goldman Sachs Lending Partners, LLC
Term Loan A, 4.365%, 3M LIBOR + 1.900%, 08/26/20 (g) (i) (j)		1,469,782		1,466,107
Term Loan B, 4.448%, 1M LIBOR + 2.100%, 08/26/20 (g) (i) (j)		3,532,320		3,523,489
				4,989,596
Distribution/Wholesale—0.3%
Chimera Special Holding LLC
Term Loan, 4.482%, 1M LIBOR + 2.000%, 10/04/19 (g)		9,935,048		9,935,048
Diversified Financial Services—0.7%
Caliber Home Loans, Inc.
Revolver, 5.619%, 3M LIBOR + 3.000%, 04/24/21 (g) (n)		5,350,000		5,336,625
LSTAR Securities Financing Vehicle
Term Loan, 4.489%, 1M LIBOR + 2.000%, 04/01/21 (g)		11,052,293		11,013,610
Roundpoint Mortgage Servicing Corp.
Term Loan, 5.864%, 1M LIBOR + 3.375%, 08/08/20 (g) (i) (j) (n)		8,397,567		8,317,790
				24,668,025
Entertainment—0.0%
Stars Group Holdings B.V. (The)
Incremental Term Loan, 6.101%, 3M LIBOR + 3.500%, 07/10/25		1,362,571		1,362,039

BHFTII-32

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Floating Rate Loans (m)—(Continued)

Security Description	Shares/ Principal Amount*		Value
Iron/Steel—0.0%
Samarco Mineracao S.A.
Delayed Draw Term Loan, 12/31/19		543,000	$	325,121
Pipelines—0.0%
AL Midcoast Holdings, LLC
Term Loan B, 8.101%, 3M LIBOR + 5.500%, 07/31/25		1,094,500		1,093,132
Retail—0.0%
Foundation Building Materials Holding Co. LLC
Term Loan B, 5.499%, 1M LIBOR + 3.000%, 08/13/25		1,172,063		1,146,423
Total Floating Rate Loans (Cost $43,864,359)				43,519,384
Preferred Stocks—0.1%
Media—0.1%
NBCUniversal Enterprise, Inc. , 5.250%, 03/19/21 (144A) (Cost $2,987,531)		2,940,000		2,984,100
Escrow Shares—0.0%
Savings & Loans—0.0%
Washington Mutual Bank (i) (j)		5,027,000		1
Washington Mutual Bank (i) (j)		1,310,000		0
Washington Mutual Bank (i) (j)		2,440,000		0
Total Escrow Shares (Cost $0)				1
Short-Term Investment—0.9%
Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $30,769,382; collateralized by U.S. Treasury Note at 2.125%, maturing 12/31/21, with a market value of $31,384,142.		30,766,305		30,766,305
Total Short-Term Investments (Cost $30,766,305)				30,766,305
Securities Lending Reinvestments (o)—1.7%
Certificates of Deposit—1.1%
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (b)		1,000,000		1,000,355
Canadian Imperial Bank of Commerce 2.752%, 1M LIBOR + 0.270%, 07/19/19 (b)		2,000,000		2,001,222
Commonwealth Bank of Australia 2.901%, 3M LIBOR + 0.140%, 04/23/19 (b)		1,000,000		1,000,246
Credit Suisse AG 2.620%, 04/01/19		3,000,000		3,000,042
Certificates of Deposit—(Continued)
Mizuho Bank, Ltd., New York 2.789%, 1M LIBOR + 0.300%, 05/01/19 (b)		2,000,000		2,000,394
Natixis New York 2.788%, 3M LIBOR + 0.090%, 05/10/19 (b)		1,000,000		1,000,214
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (b)		2,000,000		2,001,124
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (b)		3,000,000		3,000,198
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (b)		5,000,000		5,000,190
Sumitomo Mitsui Banking Corp., New York 2.690%, 1M LIBOR + 0.200%, 04/03/19 (b)		1,000,008		1,000,016
Svenska Handelsbanken AB 2.851%, 3M LIBOR + 0.100%, 04/30/19 (b)		4,000,000		4,001,080
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (b)		5,000,000		5,002,570
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (b)		2,000,000		2,000,820
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (b)		5,000,000		4,999,607
				37,008,078
Commercial Paper—0.2%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (b)		2,000,000		2,000,026
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (b)		1,000,000		1,000,000
ING Funding LLC 2.807%, 3M LIBOR + 0.110%, 05/10/19 (b)		1,500,000		1,500,371
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (b)		2,000,000		2,000,854
				6,501,251
Repurchase Agreements—0.4%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $1,511,789; collateralized by various Common Stock with an aggregate market value of $1,650,414.		1,500,000		1,500,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $100,020; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $102,000.		100,000		100,000

BHFTII-33

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (o)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $100,023; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $102,000.		100,000	$	100,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $100,021; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $102,000.		100,000		100,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $1,000,229; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,877,904; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,915,060.		1,877,509		1,877,509
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $3,152,171; collateralized by various Common Stock with an aggregate market value of $3,300,002.		3,000,000		3,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $5,340,825; collateralized by various Common Stock with an aggregate market value of $5,830,000.		5,300,000		5,300,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $201,585; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $214,271.		200,000		200,000
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $718,595; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $778,541.		700,000		700,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $410,486; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $444,881.		400,000		400,000
				15,277,509
Total Securities Lending Reinvestments (Cost $58,777,509)				58,786,838
Total Purchased Options—0.0% (p) (Cost $3,494,725)				995,343
Total Investments—109.8% (Cost $3,854,347,743)				3,881,211,248
Unfunded Loan Commitments—(0.1)% (Cost $(4,141,062))				(4,114,114	)
Net Investments —109.7% (Cost $3,850,206,681)				3,877,097,134
Other assets and liabilities (net)—(9.7)%				(341,536,027	)
Net Assets—100.0%			$	3,535,561,107

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Interest only security.
(d)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2019, the market value of securities pledged was $5,584,407.
(e)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $55,833,802 and the collateral received consisted of cash in the amount of $58,777,518. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(f)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(g)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2019, the market value of restricted securities was $40,659,764, which is 1.2% of net assets. See details shown in the Restricted Securities table that follows.
(h)	Payment-in-kind security for which part of the income earned may be paid as additional principal.
(i)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(j)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent 0.4% of net assets.
(k)	Principal only security.
(l)	Principal amount of security is adjusted for inflation.

BHFTII-34

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(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 generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(n)	Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to fund these commitments at the borrower’s discretion.
(o)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(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 March 31, 2019, the market value of 144A securities was $618,423,559, which is 17.5% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Ari Investments LLC, 4.480%, 01/06/25		12/14/17	$	1,004,277	$	1,004,277	$	1,004,277
Banco Espirito Santo S.A., 4.000%, 01/21/19		12/12/14		200,000		248,508		62,818
Caliber Home Loans, Inc., 5.619%, 04/24/21		06/27/18 - 12/13/18		5,350,000		5,350,000		5,336,625
Chimera Special Holding LLC, 4.482%, 10/04/19		02/15/18		9,935,048		9,935,048		9,935,048
Goldman Sachs Lending Partners, LLC, 4.365%, 08/26/20		07/30/18		1,469,782		1,469,782		1,466,107
Goldman Sachs Lending Partners, LLC, 4.448%, 08/26/20		07/30/18		3,532,320		3,532,319		3,523,489
LSTAR Securities Financing Vehicle, 4.489%, 04/01/21		04/10/18		11,052,293		11,026,255		11,013,610
Roundpoint Mortgage Servicing Corp., 5.864%, 08/08/20		08/27/18		8,397,567		8,397,567		8,317,790
							$	40,659,764

TBA Forward Sale Commitments

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Fannie Mae 15 Yr. Pool		2.000	%		TBA	$	(5,577,000	)	$	(5,366,120	)	$	(5,434,561	)
Fannie Mae 15 Yr. Pool		2.500	%		TBA		(2,881,200	)		(2,852,155	)		(2,864,336	)
Fannie Mae 15 Yr. Pool		3.000	%		TBA		(136,000	)		(137,201	)		(137,240	)
Fannie Mae 15 Yr. Pool		3.500	%		TBA		(5,209,000	)		(5,303,415	)		(5,328,660	)
Fannie Mae 15 Yr. Pool		4.000	%		TBA		(6,820,000	)		(7,002,222	)		(7,025,412	)
Fannie Mae 30 Yr. Pool		3.500	%		TBA		(77,763,494	)		(78,190,368	)		(78,841,855	)
Fannie Mae 30 Yr. Pool		4.000	%		TBA		(142,037,000	)		(145,275,445	)		(146,109,466	)
Fannie Mae 30 Yr. Pool		4.500	%		TBA		(56,885,000	)		(59,307,622	)		(59,270,115	)
Fannie Mae 30 Yr. Pool		5.000	%		TBA		(2,308,000	)		(2,437,194	)		(2,437,239	)
Fannie Mae 30 Yr. Pool		5.000	%		TBA		(4,935,000	)		(5,175,581	)		(5,217,895	)
Fannie Mae 30 Yr. Pool		5.500	%		TBA		(1,670,000	)		(1,768,895	)		(1,782,804	)
Fannie Mae 30 Yr. Pool		6.000	%		TBA		(2,002,000	)		(2,154,340	)		(2,159,250	)
Freddie Mac 30 Yr. Gold Pool		3.500	%		TBA		(16,517,000	)		(16,752,936	)		(16,755,722	)
Ginnie Mae I 30 Yr. Pool		4.500	%		TBA		(3,100,000	)		(3,215,766	)		(3,225,983	)
Totals									$	(334,939,260	)	$	(336,590,538	)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
ARS	8,671,500	BNP		04/22/19		USD	205,000	$	(10,010	)
ARS	14,396,250	CBNA		04/25/19		USD	349,000		(26,551	)
ARS	13,051,000	BNP		05/30/19		USD	310,000		(30,578	)
ARS	23,357,100	BNP		05/30/19		USD	565,000		(64,924	)
ARS	21,358,800	DBAG		05/30/19		USD	510,000		(52,707	)
ARS	8,088,075	BNP		06/18/19		USD	174,500		(5,781	)
ARS	12,347,500	BNP		06/19/19		USD	275,000		(17,785	)
ARS	18,615,000	BNP		06/19/19		USD	425,000		(37,224	)

BHFTII-35

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	525,000	HSBC		06/19/19		USD	370,330	$	2,986
AUD	3,068,000	HSBC		06/19/19		USD	2,182,468		(879	)
AUD	504,000	MSIP		06/19/19		USD	357,007		1,377
BRL	3,347,172	BNP		04/02/19		USD	858,976		(4,092	)
BRL	4,102,167	BNP		04/02/19		USD	1,052,729		(5,014	)
BRL	4,998,700	BNP		04/02/19		USD	1,295,000		(18,307	)
BRL	10,133,813	BNP		04/02/19		USD	2,600,614		(12,388	)
BRL	2,112,254	GSI		04/02/19		USD	542,062		(2,582	)
BRL	2,644,530	GSI		04/02/19		USD	700,000		(24,574	)
BRL	2,724,828	GSI		04/02/19		USD	699,266		(3,331	)
BRL	7,848,381	GSI		04/02/19		USD	2,014,110		(9,594	)
BRL	5,136,460	HSBC		04/02/19		USD	1,330,000		(18,122	)
BRL	8,199,116	JPMC		04/02/19		USD	2,104,118		(10,023	)
BRL	2,089,342	UBSA		04/02/19		USD	536,182		(2,554	)
BRL	4,310,628	UBSA		04/02/19		USD	1,117,920		(16,964	)
BRL	7,242,574	UBSA		04/02/19		USD	1,937,600		(87,810	)
BRL	15,780,656	UBSA		04/02/19		USD	4,221,786		(191,327	)
BRL	1,949,172	BNP		05/03/19		USD	498,000		(1,163	)
BRL	4,110,190	BNP		05/03/19		USD	1,062,600		(14,927	)
BRL	10,153,631	BNP		05/03/19		USD	2,625,000		(36,874	)
BRL	2,651,182	GSI		05/03/19		USD	701,000		(25,223	)
BRL	2,767,167	GSI		05/03/19		USD	706,000		(659	)
BRL	40,051,354	JPMC		06/19/19		USD	10,420,000		(248,642	)
CAD	1,643,090	DBAG		04/17/19		USD	1,226,000		4,043
CLP	702,922,500	DBAG		04/10/19		USD	1,050,000		(17,041	)
CLP	1,166,090,800	JPMC		04/10/19		USD	1,748,000		(34,406	)
CLP	479,585,800	BNP		04/17/19		USD	706,000		(1,233	)
CLP	464,275,000	CBNA		04/17/19		USD	700,000		(17,732	)
COP	2,171,094,000	CBNA		04/05/19		USD	699,000		(18,107	)
COP	2,225,912,818	BNP		04/17/19		USD	697,784		(213	)
COP	2,802,795,000	BNP		04/17/19		USD	885,000		(6,642	)
COP	1,527,430,930	CBNA		05/30/19		USD	485,279		(7,663	)
COP	12,533,259,070	CBNA		05/30/19		USD	3,968,733		(49,679	)
EUR	2,106,000	MSIP		06/19/19		USD	2,411,791		(33,815	)
IDR	5,934,363,236	BNP		04/15/19		USD	414,353		1,706
IDR	9,533,203,636	BNP		04/15/19		USD	665,912		2,462
IDR	9,542,304,307	DBAG		04/15/19		USD	666,734		2,278
IDR	25,103,355,000	BOA		06/19/19		USD	1,744,500		853
IDR	24,981,240,000	JPMC		06/19/19		USD	1,744,500		(7,637	)
JPY	158,783,639	CBNA		06/19/19		USD	1,435,000		6,386
JPY	159,226,170	MSIP		06/19/19		USD	1,439,000		6,403
KRW	768,085,860	JPMC		04/05/19		USD	678,000		(1,273	)
KRW	1,145,931,729	GSI		04/17/19		USD	1,016,000		(6,014	)
KRW	434,357,000	MSIP		04/17/19		USD	385,000		(2,172	)
MXN	34,086,241	CBNA		04/10/19		USD	1,747,000		6,842
MXN	13,081,395	CBNA		04/15/19		USD	675,500		(2,965	)
MXN	50,646,258	HSBC		04/15/19		USD	2,616,688		(12,886	)
MXN	13,736,800	CBNA		04/17/19		USD	700,000		6,002
MXN	17,093,643	CBNA		04/17/19		USD	884,000		(5,473	)
MXN	23,833,968	CBNA		04/17/19		USD	1,225,000		(54	)
MXN	13,596,900	HSBC		04/17/19		USD	698,000		812
MXN	16,928,538	HSBC		04/17/19		USD	875,000		(4,959	)
MXN	22,679,026	BBP		05/30/19		USD	1,161,606		(4,043	)
MXN	37,998,215	BBP		05/30/19		USD	1,930,157		9,313
MXN	68,467,880	CBNA		06/19/19		USD	3,530,000		(46,252	)
NZD	4,236,000	CBNA		06/19/19		USD	2,880,671		8,338
TRY	8,578,603	BNP		04/10/19		USD	1,557,000		(43,865	)

BHFTII-36

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
TRY	4,003,585	BNP		04/17/19		USD	703,000	$	(1,068	)
TRY	1,179,775	CBNA		04/17/19		USD	205,000		1,845
TRY	2,324,700	JPMC		04/17/19		USD	405,000		2,580
TRY	2,873,041	JPMC		06/19/19		USD	536,503		(56,384	)
ZAR	7,143,380	BNP		04/17/19		USD	494,527		(343	)
ZAR	50,288,990	BNP		04/17/19		USD	3,492,000		(12,974	)
ZAR	19,029,938	BBP		04/17/19		USD	1,312,500		4,004
ZAR	3,285,223	CBNA		04/17/19		USD	228,000		(726	)
ZAR	15,199,122	CBNA		04/17/19		USD	1,058,000		(6,515	)
ZAR	19,030,988	GSI		04/17/19		USD	1,312,500		4,077
ZAR	8,035,363	MSIP		04/17/19		USD	556,473		(581	)
ZAR	12,987,045	BNP		05/14/19		USD	904,000		(8,423	)
ZAR	38,001,093	BOA		05/30/19		USD	2,646,592		(31,048	)
Contracts to Deliver
ARS	11,431,200	BNP		04/17/19		USD	264,000		5,258
ARS	8,532,100	BNP		04/22/19		USD	205,000		13,145
ARS	16,646,000	DBAG		04/25/19		USD	410,000		37,160
ARS	17,023,200	BNP		05/31/19		USD	410,000		45,993
AUD	1,228,000	GSI		04/17/19		USD	876,328		4,119
AUD	3,593,000	DBAG		06/19/19		USD	2,550,067		(4,837	)
AUD	504,000	GSI		06/19/19		USD	355,954		(2,429	)
BRL	10,133,813	BNP		04/02/19		USD	2,625,000		36,774
BRL	4,998,700	BNP		04/02/19		USD	1,282,803		6,110
BRL	4,102,167	BNP		04/02/19		USD	1,062,600		14,886
BRL	3,347,172	BNP		04/02/19		USD	872,000		17,115
BRL	7,848,381	GSI		04/02/19		USD	2,091,786		87,270
BRL	2,724,828	GSI		04/02/19		USD	703,000		7,065
BRL	2,644,530	GSI		04/02/19		USD	678,659		3,233
BRL	2,112,254	GSI		04/02/19		USD	558,960		19,480
BRL	5,136,460	HSBC		04/02/19		USD	1,318,156		6,279
BRL	8,199,116	JPMC		04/02/19		USD	2,130,000		35,905
BRL	15,780,656	UBSA		04/02/19		USD	4,049,749		19,290
BRL	7,242,574	UBSA		04/02/19		USD	1,858,643		8,853
BRL	4,310,628	UBSA		04/02/19		USD	1,106,225		5,269
BRL	2,089,342	UBSA		04/02/19		USD	558,960		25,332
BRL	1,870,745	CBNA		05/03/19		USD	490,700		13,854
BRL	2,785,554	GSI		05/03/19		USD	697,784		(12,244	)
BRL	4,319,074	UBSA		05/03/19		USD	1,117,920		17,003
CAD	1,630,347	MSIP		04/17/19		USD	1,226,000		5,496
CLP	574,460,190	BNP		04/10/19		USD	873,000		28,819
CLP	585,025,000	JPMC		04/10/19		USD	875,000		15,294
CLP	479,244,878	BNP		04/17/19		USD	705,602		1,336
CLP	473,751,700	BNP		04/17/19		USD	703,000		6,806
COP	2,181,579,000	CBNA		04/05/19		USD	699,000		14,819
COP	2,207,837,421	MSIP		04/17/19		USD	697,784		5,878
COP	14,060,690,000	CSI		05/30/19		USD	4,492,233		95,563
EUR	489,471	GSI		05/29/19		USD	557,824		6,126
EUR	2,106,000	BNP		06/19/19		USD	2,382,730		4,754
IDR	12,685,701,069	BOA		04/17/19		USD	876,569		(12,599	)
IDR	12,376,930,101	BOA		04/17/19		USD	863,467		(4,058	)
IDR	12,667,632,816	CBNA		04/17/19		USD	876,653		(11,248	)
IDR	52,860,218,482	BOA		05/29/19		USD	3,715,486		32,220
IDR	31,991,482,407	CBNA		05/29/19		USD	2,254,032		24,887
IDR	14,659,922,573	UBSA		05/29/19		USD	1,024,954		3,460
JPY	314,131,505	SCB		06/19/19		USD	2,874,000		22,417

BHFTII-37

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
KRW	762,343,200	JPMC		04/05/19		USD	678,000	$	6,333
MXN	34,067,723	HSBC		04/10/19		USD	1,747,000		(5,889	)
MXN	15,732,449	MSIP		04/15/19		USD	810,600		1,770
MXN	25,978,100	BBP		04/17/19		USD	1,350,314		15,171
MXN	13,760,370	CBNA		04/17/19		USD	697,784		(9,430	)
MXN	20,251,464	GSI		04/17/19		USD	1,058,402		17,579
MXN	11,455,287	GSI		04/17/19		USD	586,900		(1,844	)
MXN	18,338,527	SSBT		04/17/19		USD	939,900		(2,608	)
MXN	108,467,989	BBP		05/30/19		USD	5,567,229		30,904
MXN	68,940,900	GSI		06/19/19		USD	3,530,000		22,184
NZD	4,236,000	GSI		06/19/19		USD	2,887,846		(1,162	)
TRY	8,630,397	CBNA		04/10/19		USD	1,557,000		34,729
TRY	8,057,394	BNP		04/17/19		USD	1,405,000		(7,670	)
TRY	3,980,386	CBNA		04/17/19		USD	703,000		5,135
TRY	2,455,900	BNP		05/28/19		USD	410,000		(7,009	)
TRY	1,237,175	CBNA		06/17/19		USD	205,000		(2,043	)
TRY	2,438,100	JPMC		06/17/19		USD	405,000		(3,020	)
TRY	2,873,041	GSI		06/19/19		USD	536,503		56,384
ZAR	15,571,215	BNP		04/17/19		USD	1,061,000		(16,227	)
ZAR	10,191,797	BNP		04/17/19		USD	703,000		(2,075	)
ZAR	7,637,617	BNP		04/17/19		USD	525,500		(2,876	)
ZAR	3,311,387	JPMC		04/17/19		USD	228,000		(1,084	)
ZAR	2,971,381	BOA		05/14/19		USD	204,000		(904	)
ZAR	10,074,750	CBNA		05/14/19		USD	700,000		5,253
ZAR	79,470,000	DBAG		05/30/19		USD	5,709,134		239,362
Cross Currency Contracts to Buy
CAD	7,185,000	BNP		06/19/19		NOK	45,996,933		38,006
CAD	685,092	CBNA		06/19/19		NZD	740,000		8,963
EUR	7,060,000	BNP		06/19/19		MXN	154,262,412		122,650
JPY	69,819,381	JPMC		06/19/19		SEK	5,748,000		11,936
JPY	45,612,356	MSIP		06/19/19		SEK	3,755,000		7,810
JPY	291,774,479	MSIP		06/19/19		CAD	3,530,000		1,987
JPY	7,236,910	CBNA		06/19/19		NZD	95,000		903
MXN	5,476,375	JPMC		06/19/19		EUR	250,000		(3,640	)
MXN	37,561,930	JPMC		06/19/19		EUR	1,715,000		(25,274	)
MXN	111,608,523	JPMC		06/19/19		EUR	5,095,000		(74,177	)
NOK	46,149,607	TDB		06/19/19		CAD	7,185,000		(20,251	)
NZD	95,000	BOA		06/19/19		JPY	7,148,588		(101	)
NZD	740,000	GSI		06/19/19		CAD	684,181		(8,280	)
SEK	9,503,000	CBNA		06/19/19		JPY	114,512,100		(11,398	)
Net Unrealized Depreciation								$	(280,538	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		12/16/19		1,420		USD	346,373,500	$	724,215
U.S. Treasury Note 2 Year Futures		06/28/19		2,111		USD	449,840,906		1,814,663
U.S. Treasury Note 5 Year Futures		06/28/19		2,371		USD	274,628,484		1,899,341
U.S. Treasury Note Ultra 10 Year Futures		06/19/19		122		USD	16,199,313		389,949
U.S. Treasury Ultra Long Bond Futures		06/19/19		972		USD	163,296,000		6,009,394

BHFTII-38

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Short	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		12/14/20		(1,420	)		USD	(347,385,250	)	$	(1,117,487	)
Euro-Bund Futures		06/06/19		(2	)		EUR	(332,680	)		(6,172	)
U.S. Treasury Long Bond Futures		06/19/19		(49	)		USD	(7,333,156	)		(127,754	)
U.S. Treasury Note 10 Year Futures		06/19/19		(1,053	)		USD	(130,802,344	)		(1,181,391	)
Net Unrealized Appreciation										$	8,404,758

Purchased Options

Foreign Currency Options	Strike Price		Counterparty	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
AUD Call/USD Put	AUD	0.715	BOA		04/04/19		1,478,000		AUD	1,478,000	$	5,180	$	1,278	$	(3,902	)
AUD Call/USD Put	AUD	0.715	MSIP		05/16/19		1,973,000		AUD	1,973,000		13,480		10,922		(2,559	)
EUR Call/USD Put	EUR	1.150	BNP		05/17/19		1,080,000		EUR	1,080,000		6,379		2,063		(4,316	)
GBP Call/USD Put	GBP	1.345	BOA		05/17/19		1,320,000		GBP	1,320,000		18,658		9,354		(9,304	)
GBP Put/USD Call	GBP	1.250	CBNA		04/01/19		28,406,000		GBP	28,406,000		22,677		37		(22,640	)
GBP Put/USD Call	GBP	1.250	BBP		07/15/19		28,406,000		GBP	28,406,000		579,970		352,030		(227,940	)
USD Call/CLP Put	CLP	660.000	JPMC		04/04/19		1,340,000		USD	1,340,000		15,343		40,906		25,564
USD Call/KRW Put	KRW	1,140.000	MSIP		05/20/19		1,401,000		USD	1,401,000		7,972		10,536		2,564
USD Call/TRY Put	TRY	6.150	BNP		04/25/19		2,166,000		USD	2,166,000		26,620		41,028		14,408
USD Put/BRL Call	BRL	3.910	DBAG		04/29/19		1,237,000		USD	1,237,000		20,537		19,842		(695	)
USD Put/BRL Call	BRL	3.780	BOA		05/10/19		1,222,000		USD	1,222,000		18,295		6,810		(11,484	)
USD Put/BRL Call	BRL	3.790	MSIP		05/20/19		1,223,000		USD	1,223,000		22,197		8,910		(13,288	)
USD Put/JPY Call	JPY	112.000	DBAG		04/03/19		25,202,000		USD	25,202,000		595,523		273,744		(321,779	)
USD Call/JPY Put	JPY	112.000	DBAG		04/03/19		25,202,000		USD	25,202,000		640,383		3,024		(637,359	)
USD Put/KRW Call	KRW	1,105.000	MSIP		04/04/19		1,440,000		USD	1,440,000		14,823		2		(14,822	)
USD Put/MXN Call	MXN	19.300	MSIP		05/10/19		1,351,000		USD	1,351,000		13,171		11,346		(1,825	)
USD Put/ZAR Call	ZAR	13.600	JPMC		04/04/19		2,695,000		USD	2,695,000		5,740		40		(5,700	)
USD Put/ZAR Call	ZAR	13.600	CBNA		04/10/19		1,808,000		USD	1,808,000		37,805		320		(37,485	)
USD Put/ZAR Call	ZAR	13.400	JPMC		05/03/19		2,695,000		USD	2,695,000		9,513		2,288		(7,225	)
USD Put/ZAR Call	ZAR	13.750	DBAG		05/09/19		4,291,000		USD	4,291,000		27,248		18,709		(8,539	)
USD Put/ZAR Call	ZAR	14.150	CBNA		05/10/19		1,356,000		USD	1,356,000		25,316		16,402		(8,914	)
USD Put/TRY Call	TRY	6.500	CBNA		05/17/19		90,000		USD	90,000		22,500		16,243		(6,257	)
USD Call/TRY Put	TRY	5.350	BNP		04/26/19		25,000		USD	25,000		5,250		4,261		(989	)
USD Put/ZAR Call	ZAR	14.400	BNP		04/26/19		1,061,000		USD	1,061,000		12,708		15,778		3,071
Totals											$	2,167,288	$	865,873	$	(1,301,415	)

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 - 10 Yr. IRS

3.770

%

CBNA

3M LIBOR

Receive

04/24/19

11,125,000

USD

11,125,000

$

37,130

$

1

$

(37,129

)

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	122.500		04/26/19		2,082		USD	2,082,000	$	746,882	$	97,594	$	(649,288	)
Put - U.S. Treasury Note 10 Year Futures		USD	122.000		04/26/19		1,020		USD	1,020,000		543,425		31,875		(511,550	)
Totals											$	1,290,307	$	129,469	$	(1,160,838	)

BHFTII-39

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Written Options

Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
AUD Put/USD Call		AUD	0.700		MSIP		04/17/19		(987,000	)		AUD	(987,000	)	$	(2,314	)	$	(1,430	)	$	884
BRL Call/USD Put		BRL	3.840		DBAG		04/29/19		(1,767,000	)		USD	(1,767,000	)		(15,198	)		(14,419	)		779
BRL Call/USD Put		BRL	3.690		MSIP		05/20/19		(1,223,000	)		USD	(1,223,000	)		(9,784	)		(3,048	)		6,736
GBP Put/USD Call		GBP	1.250		BBP		04/01/19		(28,406,000	)		GBP	(28,406,000	)		(224,535	)		(37	)		224,498
GBP Put/USD Call		GBP	1.250		CBNA		07/15/19		(28,406,000	)		GBP	(28,406,000	)		(223,561	)		(352,030	)		(128,469	)
USD Call/TRY Put		TRY	6.600		BNP		04/25/19		(3,033,000	)		USD	(3,033,000	)		(13,822	)		(29,135	)		(15,313	)
TRY Put/USD Call		TRY	5.100		BNP		04/26/19		(25,000	)		USD	(25,000	)		(2,000	)		(1,607	)		393
USD Call/BRL Put		BRL	3.785		MSIP		04/04/19		(1,222,000	)		USD	(1,222,000	)		(12,403	)		(39,924	)		(27,521	)
USD Call/BRL Put		BRL	4.000		BOA		05/10/19		(1,222,000	)		USD	(1,222,000	)		(9,081	)		(14,846	)		(5,765	)
USD Call/CLP Put		CLP	678.000		JPMC		04/04/19		(2,009,000	)		USD	(2,009,000	)		(9,198	)		(12,954	)		(3,756	)
GBP Call/USD Put		GBP	1.350		BOA		04/17/19		(1,056,000	)		GBP	(1,056,000	)		(8,013	)		(3,117	)		4,896
USD Call/JPY Put		JPY	112.000		MSIP		04/03/19		(25,202,000	)		USD	(25,202,000	)		(455,148	)		(3,024	)		452,124
USD Call/MXN Put		MXN	19.750		MSIP		05/10/19		(925,100	)		USD	(925,100	)		(8,748	)		(9,693	)		(945	)
USD Call/ZAR Put		ZAR	14.900		JPMC		04/04/19		(536,500	)		USD	(536,500	)		(2,908	)		(975	)		1,933
USD Call/ZAR Put		ZAR	14.900		DBAG		04/09/19		(538,000	)		USD	(538,000	)		(5,513	)		(1,859	)		3,654
USD Call/ZAR Put		ZAR	14.650		CBNA		05/10/19		(904,000	)		USD	(904,000	)		(18,384	)		(18,497	)		(113	)
USD Call/ZAR Put		ZAR	14.700		CBNA		05/16/19		(904,000	)		USD	(904,000	)		(21,981	)		(18,735	)		3,246
USD Put/BRL Call		BRL	3.700		MSIP		04/04/19		(1,222,000	)		USD	(1,222,000	)		(11,572	)		(26	)		11,546
USD Put/BRL Call		BRL	3.650		BOA		05/10/19		(1,222,000	)		USD	(1,222,000	)		(5,359	)		(1,365	)		3,994
USD Put/JPY Call		JPY	112.000		MSIP		04/03/19		(25,202,000	)		USD	(25,202,000	)		(457,920	)		(273,744	)		184,176
USD Put/KRW Call		KRW	1,090.000		MSIP		04/04/19		(2,160,000	)		USD	(2,160,000	)		(9,452	)		(2	)		9,450
USD Put/ZAR Call		ZAR	13.150		CBNA		04/10/19		(1,356,000	)		USD	(1,356,000	)		(10,633	)		(7	)		10,626
USD Put/ZAR Call		ZAR	13.300		DBAG		05/09/19		(4,291,000	)		USD	(4,291,000	)		(7,063	)		(5,008	)		2,055
USD Put/ZAR Call		ZAR	13.700		CBNA		05/10/19		(904,000	)		USD	(904,000	)		(6,887	)		(3,595	)		3,292
Totals															$	(1,551,477	)	$	(809,077	)	$	742,400

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid		Unrealized Appreciation/ (Depreciation)
Pay	12M HICP		Maturity	1.114%	Maturity		03/15/24		EUR	56,410,000	$	386,061		$	2,296	$	383,765
Pay	12M UKRPI		Maturity	3.443%	Maturity		03/15/24		GBP	11,737,500		(35,749	)		555		(36,304	)
Pay	12M UKRPI		Maturity	3.488%	Maturity		03/15/29		GBP	38,812,000		(172,605	)		2,095		(174,700	)
Pay	28-Day TIIE		Monthly	8.125%	Monthly		02/02/24		MXN	45,812,597		31,701			42		31,659
Pay	28-Day TIIE		Monthly	8.135%	Monthly		02/05/24		MXN	32,923,797		23,516			30		23,486
Pay	28-Day TIIE		Monthly	8.390%	Monthly		01/18/24		MXN	87,301,243		108,858			79		108,779
Pay	28-Day TIIE		Monthly	6.320%	Monthly		07/17/25		MXN	40,086,000		(162,093	)		—		(162,093	)
Pay	28-Day TIIE		Monthly	8.206%	Monthly		10/07/20		MXN	188,281,000		9,172			128		9,044
Pay	3M CDOR		Semi-Annually	1.811%	Quarterly		03/22/22		CAD	246,865,000		(20,801	)		3,151		(23,952	)
Pay	3M LIBOR		Quarterly	2.131%	Semi-Annually		08/25/25		USD	1,285,000		(15,049	)		—		(15,049	)
Pay	3M LIBOR		Semi-Annually	2.390%	Quarterly		04/02/21		USD	12,490,000		208			209		(1	)
Pay	3M LIBOR		Semi-Annually	2.447%	Quarterly		03/26/29		USD	1,570,000		2,215			32		2,183
Pay	3M LIBOR		Semi-Annually	2.640%	Quarterly		03/19/29		USD	3,260,000		61,042			66		60,976
Pay	3M LIBOR		Semi-Annually	2.690%	Quarterly		01/08/29		USD	7,254,000		168,017			144		167,873
Pay	3M LIBOR		Semi-Annually	2.690%	Quarterly		02/26/29		USD	3,059,000		70,447			62		70,385
Pay	3M LIBOR		Quarterly	3.348%	Semi-Annually		04/26/29		USD	1,802,000		147,872			36		147,836
Pay	6M LIBOR		Semi-Annually	1.248%	Quarterly		03/22/22		GBP	138,205,000		365,914			3,116		362,798
Receive	12M HICP		Maturity	1.301%	Maturity		03/15/29		EUR	56,410,000		(883,114	)		2,606		(885,720	)
Receive	12M UKRPI		Maturity	3.410%	Maturity		03/15/24		GBP	38,812,000		208,598			1,846		206,752
Receive	28-Day TIIE		Monthly	7.105%	Monthly		10/14/22		MXN	48,327,742		56,337			46		56,291
Receive	28-Day TIIE		Monthly	7.110%	Monthly		10/14/22		MXN	36,666,258		42,446			35		42,411
Receive	3M LIBOR		Semi-Annually	2.272%	Quarterly		09/11/25		USD	955,000		3,170			—		3,170
Receive	3M LIBOR		Quarterly	2.327%	Semi-Annually		03/29/21		USD	9,700,000		12,734			161		12,573

BHFTII-40

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Centrally Cleared Interest Rate Swaps—(Continued)

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid		Unrealized Appreciation/ (Depreciation)
Receive	3M LIBOR		Quarterly	2.350%	Semi-Annually		04/01/21		USD	4,874,000	$	3,944		$	81	$	3,863
Receive	3M LIBOR		Quarterly	2.425%	Semi-Annually		04/02/29		USD	1,577,000		32			32		—
Receive	3M LIBOR		Quarterly	2.559%	Semi-Annually		03/22/29		USD	1,750,220		(20,082	)		35		(20,117	)
Receive	3M LIBOR		Semi-Annually	2.716%	Quarterly		01/08/29		USD	4,072,000		(103,617	)		81		(103,698	)
Receive	3M LIBOR		Semi-Annually	2.764%	Quarterly		01/31/29		USD	634,000		(18,762	)		13		(18,775	)
Receive	3M LIBOR		Semi-Annually	2.808%	Quarterly		01/29/29		USD	587,000		(19,703	)		12		(19,715	)
Receive	3M LIBOR		Semi-Annually	2.855%	Quarterly		12/24/28		USD	712,000		(26,847	)		14		(26,861	)
Receive	3M LIBOR		Semi-Annually	2.915%	Quarterly		08/23/26		USD	110,000		(4,211	)		2		(4,213	)
Receive	3M LIBOR		Semi-Annually	2.932%	Quarterly		06/12/29		USD	2,887,000		(128,856	)		58		(128,914	)
Receive	3M LIBOR		Semi-Annually	3.156%	Quarterly		10/03/28		USD	1,279,000		(80,965	)		25		(80,990	)
Receive	3M LIBOR		Semi-Annually	3.232%	Quarterly		04/26/29		USD	621,000		(44,508	)		12		(44,520	)
Receive	3M LIBOR		Semi-Annually	3.264%	Quarterly		04/26/29		USD	2,560,000		(190,816	)		51		(190,867	)
Receive	6M LIBOR		Quarterly	0.992%	Semi-Annually		03/20/20		GBP	132,610,000		(79,312	)		2,821		(82,133	)
Totals											$	(304,806	)	$	19,972	$	(324,778	)

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	1-Day CDI		Maturity	8.270%	Maturity		01/02/23	JPMC		BRL	16,183,229	$	19,457		$	—	$	19,457
Pay	1-Day CDI		Maturity	8.345%	Maturity		01/02/23	GSI		BRL	15,421,459		26,416			—		26,416
Pay	1-Day CDI		Maturity	8.490%	Maturity		01/02/25	CBNA		BRL	25,475,776		(606	)		—		(606	)
Pay	1-Day CDI		Maturity	8.531%	Maturity		01/02/23	CBNA		BRL	29,110,000		111,516			—		111,516
Pay	1-Day CDI		Maturity	8.557%	Maturity		01/02/25	BNP		BRL	12,505,000		4,595			—		4,595
Pay	28-Day TIIE		Monthly	6.270%	Monthly		12/05/25	BOA		MXN	2,209,451		(9,881	)		—		(9,881	)
Pay	28-Day TIIE		Monthly	6.325%	Monthly		07/17/25	CBNA		MXN	19,973,500		(81,205	)		—		(81,205	)
Receive	28-Day TIIE		Monthly	6.307%	Monthly		08/11/25	DBAG		MXN	74,533,884		309,886			—		309,886
Receive	28-Day TIIE		Monthly	6.310%	Monthly		08/11/25	BOA		MXN	20,079,000		83,332			—		83,332
Receive	28-Day TIIE		Monthly	6.310%	Monthly		08/11/25	BOA		MXN	20,079,000		83,332			—		83,332
Totals												$	546,842		$	—	$	546,842

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 March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		06/20/24	BNP		1.751	%		USD	5,190,000	$	185,534		$	174,971	$	10,563
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		06/20/24	BNP		1.751	%		USD	1,620,000		57,913			53,422		4,491
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		06/20/24	CBNA		1.751	%		USD	11,311,193		404,357			355,122		49,235
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		06/20/24	CBNA		1.751	%		USD	5,473,000		195,651			186,704		8,947
Brazil Government International Bond 4.250%, due 01/07/25		(1.000	%)		Quarterly		06/20/24	CBNA		1.751	%		USD	1,443,000		51,585			49,226		2,359
Mexico Government International Bond 7.500%, due 04/08/33		(1.000	%)		Quarterly		06/20/20	JPMC		0.443	%		USD	3,824,276		(25,975	)		33,406		(59,381	)
Mexico Government International Bond 7.500%, due 04/08/33		(1.000	%)		Quarterly		09/20/20	BOA		0.497	%		USD	3,824,276		(28,158	)		50,241		(78,399	)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		06/20/24	CBNA		1.202	%		USD	4,425,306		43,241			77,769		(34,528	)

BHFTII-41

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (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 March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		06/20/24	CBNA		1.202	%		USD	1,196,970	$	11,696		$	21,035		$	(9,339	)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		06/20/24	HSBC		1.202	%		USD	7,109,620		69,470			128,712			(59,242	)
Mexico Government International Bond 4.150%, due 03/28/27		(1.000	%)		Quarterly		06/20/24	HSBC		1.202	%		USD	1,923,030		18,791			34,814			(16,023	)
Philippines Government International Bond 10.625%, due 03/16/25		(1.000	%)		Quarterly		06/20/24	CBNA		0.603	%		USD	5,396,000		(105,038	)		(85,891	)		(19,147	)
Republic of Colombia 10.375%, due 01/28/33		(1.000	%)		Quarterly		06/20/24	CBNA		1.083	%		USD	6,796,713		27,278			66,584			(39,306	)
Republic of South Africa Government International Bond 5.500%, due 03/09/20		(1.000	%)		Quarterly		06/20/24	GSI		1.984	%		USD	8,277,000		385,055			367,794			17,261
Turkey Government International Bond 11.850%, due 01/15/30		(1.000	%)		Quarterly		06/20/24	BNP		4.243	%		USD	1,490,000		210,265			148,882			61,383
Turkey Government International Bond 11.280%, due 01/15/30		(1.000	%)		Quarterly		06/20/24	DBAG		4.243	%		USD	1,785,000		251,895			177,205			74,690
Turkey Government International Bond 11.850%, due 01/15/30		(1.000	%)		Quarterly		06/20/24	GSI		4.243	%		USD	938,015		132,371			94,648			37,723
Turkey Government International Bond 11.280%, due 01/15/30		(1.000	%)		Quarterly		06/20/24	GSI		4.243	%		USD	257,492		36,337			26,115			10,222
Turkey Government International Bond 11.280%, due 01/15/30		(1.000	%)		Quarterly		06/20/24	MSIP		4.243	%		USD	1,706,800		240,860			172,007			68,853
Totals															$	2,163,128		$	2,132,766		$	30,362

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2019(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		0.443	%		USD	3,824,276	$	25,975	$	(38,756	)	$	64,731
Mexico Government International Bond 7.500%, due 04/08/33		1.000	%		Quarterly		09/20/20	JPMC		0.497	%		USD	3,824,276		28,158		(43,741	)		71,899
Totals															$	54,133	$	(82,497	)	$	136,630

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 March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CMBX.NA.AAA.V6		(0.500	%)		Monthly		05/11/63	DBAG		0.000	%		USD	1,670,000	$	(12,356	)	$	242		$	(12,598	)
CMBX.NA.AAA.V6		(0.500	%)		Monthly		05/11/63	DBAG		0.000	%		USD	2,340,000		(17,313	)		(883	)		(16,430	)
CMBX.NA.AAA.V6		(0.500	%)		Monthly		05/11/63	DBAG		0.000	%		USD	2,680,000		(19,828	)		745			(20,573	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	CSI		0.000	%		USD	1,610,000		(13,985	)		19,805			(33,790	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	DBAG		0.000	%		USD	1,280,000		(11,119	)		15,972			(27,091	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	MSIP		0.000	%		USD	900,000		(7,818	)		11,071			(18,889	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	MSIP		0.000	%		USD	1,090,000		(9,468	)		13,409			(22,877	)
CMBX.NA.AAA.V9		(0.500	%)		Monthly		09/17/58	MSIP		0.000	%		USD	1,960,000		(17,026	)		26,423			(43,449	)
CMBX.NA.BBB-.V6		(3.000	%)		Monthly		05/11/63	JPMC		0.000	%		USD	340,000		43,171			34,298			8,873
CMBX.NA.BBB-.V9		(3.000	%)		Monthly		09/17/58	MSIP		0.000	%		USD	105,000		6,323			6,078			245
Totals															$	(59,419	)	$	127,160		$	(186,579	)

BHFTII-42

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2019(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	660,000	$	(2,035	)	$	(30,601	)	$	28,566
CMBX.NA.A.V10		2.000	%		Monthly		11/17/59	DBAG		0.000	%		USD	1,310,000		(4,039	)		(59,736	)		55,697
CMBX.NA.A.V8		2.000	%		Monthly		10/17/57	GSI		0.000	%		USD	559,000		582			(32,019	)		32,601
CMBX.NA.AAA.V7		0.500	%		Quarterly		01/17/47	CSI		0.000	%		USD	5,000,000		45,413			(156,398	)		201,811
CMBX.NA.AM.V4		0.500	%		Quarterly		02/17/51	DBAG		0.000	%		USD	2,370,000		(11,850	)		(359,977	)		348,127
CMBX.NA.BBB-.V10		3.000	%		Monthly		11/17/59	JPMC		0.000	%		USD	40,000		(2,134	)		(3,575	)		1,441
CMBX.NA.BBB-.V6		3.000	%		Monthly		05/11/63	CSI		0.000	%		USD	340,000		(43,171	)		(28,925	)		(14,246	)
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	DBAG		0.000	%		USD	467,000		(28,120	)		(57,312	)		29,192
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	JPMC		0.000	%		USD	272,000		(16,378	)		(24,444	)		8,066
CMBX.NA.BBB-.V9		3.000	%		Monthly		09/17/58	MSIP		0.000	%		USD	260,000		(15,656	)		(15,798	)		142
Totals															$	(77,388	)	$	(768,785	)	$	691,397

	Securities in the amount of $285,029 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
(SCB)—	Standard Chartered Bank
(SSBT)—	State Street Bank and Trust
(TDB)—	Toronto Dominion Bank
(UBSA)—	UBS AG

Currencies

(ARS)—	Argentine Peso
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CLP)—	Chilean Peso
(COP)—	Colombian Peso
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(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
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(BADLAR)—	Buenos Aires Deposits of Large Amount Rate Index
(CDI)—	Brazil Interbank Deposit Rate
(CDOR)—	Canadian Dollar Offered Rate
(CMBX)—	Commercial Mortgage-Backed 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
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(HICP)—	Eurozone Harmonized Index of Consumer Prices
(ICE)—	Intercontinental Exchange, Inc.
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(TIIE)—	Mexican Interbank Equilibrium Interest Rate
(UKRPI)—	United Kingdom Retail Price Index

BHFTII-43

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Glossary of Abbreviations—(Continued)

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. A reconciliation of Level 3 securities, if any, will be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,554,308,688		$	—	$	1,554,308,688
Total Corporate Bonds & Notes*		—		1,349,986,576			—		1,349,986,576
Asset-Backed Securities
Asset-Backed - Home Equity		—		32,482,187			—		32,482,187
Asset-Backed - Manufactured Housing		—		16,060,838			—		16,060,838
Asset-Backed - Other		—		305,434,378			0		305,434,378
Asset-Backed - Student Loan		—		15,259,278			—		15,259,278
Total Asset-Backed Securities		—		369,236,681			—		369,236,681
Total Municipals		—		183,368,556			—		183,368,556
Total Mortgage-Backed Securities*		—		169,676,893			—		169,676,893
Total Foreign Government*		—		117,581,883			—		117,581,883
Floating Rate Loans
Commercial Services		—		—			4,989,596		4,989,596
Distribution/Wholesale		—		9,935,048			—		9,935,048
Diversified Financial Services (Less Unfunded Loan Commitments of $4,114,114)		—		14,584,297			5,969,614		20,553,911
Entertainment		—		1,362,039			—		1,362,039
Iron/Steel		—		325,121			—		325,121
Pipelines		—		1,093,132			—		1,093,132
Retail		—		1,146,423			—		1,146,423
Total Floating Rate Loans (Less Unfunded Loan Commitments of $4,114,114)		—		28,446,060			10,959,210		39,405,270
Total Preferred Stocks*		—		2,984,100			—		2,984,100
Total Escrow Shares*		—		—			1		1
Total Short-Term Investment*		—		30,766,305			—		30,766,305
Total Securities Lending Reinvestments*		—		58,786,838			—		58,786,838
Purchased Options
Foreign Currency Options at Value	$	—	$	865,873		$	—	$	865,873
Interest Rate Swaptions at Value		—		1			—		1
Options on Exchange-Traded Futures Contracts at Value		129,469		—			—		129,469
Total Purchased Option		129,469		865,874			—		995,343
Total Net Investments (Less Unfunded Loan Commitments of $4,114,114)	$	129,469	$	3,866,008,454		$	10,959,211	$	3,877,097,134
Collateral for Securities Loaned (Liability)	$	—	$	(58,777,518	)	$	—	$	(58,777,518	)
TBA Forward Sales Commitments	$	—	$	(336,590,538	)	$	—	$	(336,590,538	)

BHFTII-44

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	1,396,634		$	—	$	1,396,634
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(1,677,172	)		—		(1,677,172	)
Total Forward Contracts	$	—		$	(280,538	)	$	—	$	(280,538	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	10,837,562		$	—		$	—	$	10,837,562
Futures Contracts (Unrealized Depreciation)		(2,432,804	)		—			—		(2,432,804	)
Total Futures Contracts	$	8,404,758		$	—		$	—	$	8,404,758
Written Options
Foreign Currency Options at Value	$	—		$	(809,077	)	$	—	$	(809,077	)
Total Written Options	$	—		$	(809,077	)	$	—	$	(809,077	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	1,693,844		$	—	$	1,693,844
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(2,018,622	)		—		(2,018,622	)
Total Centrally Cleared Swap Contracts	$	—		$	(324,778	)	$	—	$	(324,778	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	3,110,455		$	—	$	3,110,455
OTC Swap Contracts at Value (Liabilities)		—			(483,159	)		—		(483,159	)
Total OTC Swap Contracts	$	—		$	2,627,296		$	—	$	2,627,296

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

Transfers from Level 3 to Level 2 in the amount of $18,992,477 were due to the resumption of trading activity which resulted in the availability of significant observable inputs.

BHFTII-45

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—99.4% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.2%
Boeing Co. (The)		99,816	$	38,071,819
Automobiles—0.8%
Tesla, Inc. (a) (b)		47,446		13,278,238
Banks—0.4%
First Republic Bank (b)		66,750		6,705,705
Beverages—2.5%
Constellation Brands, Inc. - Class A (b)		249,016		43,659,975
Biotechnology—1.2%
Vertex Pharmaceuticals, Inc. (a)		115,351		21,218,816
Capital Markets—3.6%
CME Group, Inc.		160,477		26,411,305
S&P Global, Inc.		165,944		34,939,509
				61,350,814
Chemicals—1.6%
Linde plc		14,849		2,612,384
Sherwin-Williams Co. (The)		57,287		24,674,084
				27,286,468
Construction Materials—1.2%
Vulcan Materials Co. (b)		182,397		21,595,805
Electronic Equipment, Instruments & Components—0.6%
Keysight Technologies, Inc. (a)		120,206		10,481,963
Entertainment—4.6%
Electronic Arts, Inc. (a)		259,254		26,347,984
Netflix, Inc. (a) (b)		149,624		53,349,933
				79,697,917
Equity Real Estate Investment Trusts—1.8%
SBA Communications Corp. (a)		151,466		30,241,702
Health Care Equipment & Supplies—7.5%
Align Technology, Inc. (a) (b)		133,423		37,936,162
Becton Dickinson & Co. (b)		116,350		29,056,085
Boston Scientific Corp. (a) (b)		861,183		33,052,204
Intuitive Surgical, Inc. (a) (b)		50,554		28,845,101
				128,889,552
Health Care Providers & Services—4.3%
Centene Corp. (a) (b)		437,125		23,211,337
UnitedHealth Group, Inc.		209,495		51,799,734
				75,011,071
Hotels, Restaurants & Leisure—1.3%
Domino’s Pizza, Inc. (b)		86,155		22,236,605
Industrial Conglomerates—2.4%
Honeywell International, Inc.		106,570		16,936,105
Industrial Conglomerates—(Continued)
Roper Technologies, Inc. (b)		69,329		23,708,438
				40,644,543
Interactive Media & Services—8.4%
Alphabet, Inc. - Class A (a)		46,900		55,196,141
Facebook, Inc. - Class A (a)		121,884		20,316,844
IAC/InterActiveCorp (a)		106,086		22,289,729
Tencent Holdings, Ltd.		1,018,500		46,832,235
				144,634,949
Internet & Direct Marketing Retail—12.5%
Alibaba Group Holding, Ltd. (ADR) (a)		83,610		15,254,644
Amazon.com, Inc. (a)		87,224		155,324,138
Booking Holdings, Inc. (a)		5,494		9,586,536
MercadoLibre, Inc. (a) (b)		70,394		35,741,146
				215,906,464
IT Services—10.7%
MasterCard, Inc. - Class A		300,097		70,657,839
PayPal Holdings, Inc. (a) (b)		303,113		31,475,254
Visa, Inc. - Class A (b)		524,233		81,879,952
				184,013,045
Life Sciences Tools & Services—2.1%
Illumina, Inc. (a) (b)		83,546		25,956,907
IQVIA Holdings, Inc. (a)		72,023		10,360,508
				36,317,415
Machinery—1.1%
Xylem, Inc.		250,567		19,804,816
Pharmaceuticals—1.8%
Novartis AG (ADR)		162,013		15,575,930
Zoetis, Inc.		162,496		16,358,472
				31,934,402
Professional Services—3.4%
CoStar Group, Inc. (a) (b)		97,309		45,386,864
TransUnion (b)		195,103		13,040,684
				58,427,548
Road & Rail—1.7%
Union Pacific Corp.		172,970		28,920,584
Semiconductors & Semiconductor Equipment—3.6%
ASML Holding NV		174,078		32,735,368
NVIDIA Corp.		74,660		13,405,950
Xilinx, Inc.		130,570		16,554,970
				62,696,288
Software—16.5%
Adobe, Inc. (a)		162,719		43,362,986
Autodesk, Inc. (a) (b)		141,742		22,086,239
Intuit, Inc.		172,654		45,133,482

BHFTII-46

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Software—(Continued)
Microsoft Corp.		666,405	$	78,595,806
PTC, Inc. (a) (b)		93,069		8,579,101
Salesforce.com, Inc. (a) (b)		325,093		51,484,978
ServiceNow, Inc. (a) (b)		143,968		35,486,672
				284,729,264
Specialty Retail—0.5%
Burlington Stores, Inc. (a)		56,059		8,783,324
Textiles, Apparel & Luxury Goods—1.1%
NIKE, Inc. - Class B		225,063		18,952,555
Total Common Stocks (Cost $1,221,025,628)				1,715,491,647
Preferred Stock—0.6%
Software—0.6%
Palantir Technologies, Inc. - Series I, (a) (c) (d) (e) (Cost $15,555,193)		2,537,552		10,860,723
Short-Term Investment—0.9%
Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $15,743,197; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $16,059,020.		15,741,623		15,741,623
Total Short-Term Investments (Cost $15,741,623)				15,741,623
Securities Lending Reinvestments (f)—12.7%
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (g)		2,000,000		2,000,000
Certificates of Deposit—8.9%
ABN AMRO Bank NV Zero Coupon, 07/05/19		9,912,326		9,930,200
Banco Santander S.A. 2.790%, 04/16/19		3,000,000		3,000,513
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (g)		2,000,000		2,001,932
Bank of Nova Scotia
2.860%, SOFR + 0.430%, 05/16/19 (h)		5,000,000		4,999,996
2.967%, 3M LIBOR + 0.170%, 01/09/20 (g)		2,000,000		2,000,112
Barclays Bank plc 2.950%, 08/02/19		8,000,000		8,002,160
BNP Paribas S.A. New York 2.784%, 3M LIBOR + 0.050%, 11/06/19 (g)		2,000,000		2,000,000
Certificates of Deposit—(Continued)
Canadian Imperial Bank of Commerce
2.734%, 1M LIBOR + 0.250%, 10/15/19 (g)		2,000,000		2,001,640
2.752%, 1M LIBOR + 0.270%, 07/19/19 (g)		2,000,000		2,001,222
Chiba Bank, Ltd. 2.620%, 06/05/19		7,000,000		6,999,615
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (g)		2,000,000		2,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (g)		1,500,000		1,500,369
Cooperative Rabobank UA 2.933%, 3M LIBOR + 0.150%, 01/08/20 (g)		3,000,000		3,001,329
Credit Agricole S.A. 2.807%, 1M LIBOR + 0.320%, 05/21/19 (g)		3,000,000		3,000,774
Credit Industriel et Commercial 2.887%, 3M LIBOR + 0.090%, 10/15/19 (g)		2,000,000		2,000,726
Credit Suisse AG 2.620%, 04/01/19		6,000,000		6,000,084
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (g)		3,000,000		2,999,731
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		3,000,000		3,000,252
KBC Bank NV Zero Coupon, 04/23/19		11,917,758		11,982,960
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 04/16/19		4,965,490		4,993,900
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		4,966,855		4,979,238
Mizuho Bank, Ltd., New York 2.908%, 04/03/19		3,004,780		2,999,738
MUFG Bank Ltd.
2.789%, 1M LIBOR + 0.300%, 05/01/19 (g)		3,000,000		3,000,537
2.800%, 07/16/19		4,000,000		4,002,472
Natixis New York 2.788%, 3M LIBOR + 0.090%, 05/10/19 (g)		1,000,000		1,000,214
Shizuoka Bank, Ltd. 2.600%, 05/07/19		2,000,000		2,000,090
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (g)		5,000,000		5,000,330
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (g)		5,005,769		5,002,840
2.899%, 3M LIBOR + 0.160%, 05/07/19 (g)		2,000,000		2,000,504
Standard Chartered plc 2.660%, 08/23/19		8,000,000		8,001,424
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (g)		5,000,000		5,001,145
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (g)		2,000,000		2,000,076
Sumitomo Mitsui Banking Corp., New York 2.651%, 1M LIBOR + 0.170%, 08/07/19 (g)		4,000,071		4,000,704
Sumitomo Mitsui Trust Bank, Ltd. 2.904%, 3M LIBOR + 0.100%, 07/08/19 (g)		2,000,000		1,999,996
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (g)		2,000,000		2,002,266
2.851%, 3M LIBOR + 0.100%, 04/30/19 (g)		4,000,000		4,001,080
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (g)		1,000,000		1,000,410

BHFTII-47

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Wells Fargo Bank N.A.
2.939%, 3M LIBOR + 0.140%, 07/11/19 (g)		4,000,000	$	3,999,686
2.975%, 3M LIBOR + 0.210%, 10/25/19 (g)		2,000,000		2,000,000
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (g)		6,000,000		5,999,966
				153,410,231
Commercial Paper—2.7%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (g)		2,000,000		2,000,026
Bank of China, Ltd. 2.890%, 04/17/19		5,956,650		5,991,474
Barton Capital S.A. 2.650%, 05/02/19		1,986,750		1,995,160
China Construction Bank Corp.
2.840%, 04/29/19		3,970,338		3,991,160
2.860%, 04/18/19		3,971,400		3,994,324
First Abu Dhabi Bank 2.750%, 04/16/19		2,979,375		2,996,229
Industrial & Commercial Bank of China, Corp. 2.880%, 04/18/19		4,964,000		4,992,605
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (g)		5,000,000		5,000,695
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (g)		2,000,000		2,000,000
Toyota Motor Credit Corp. 2.620%, 08/29/19		9,871,183		9,891,150
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (g)		3,000,000		3,001,281
				45,854,104
Repurchase Agreements—1.0%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $7,558,946; collateralized by various Common Stock with an aggregate market value of $8,252,070.		7,500,000		7,500,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $100,272; collateralized by various Common Stock with an aggregate market value of $110,000.		100,000		100,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $2,005,444; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $7,355,065; collateralized by various Common Stock with an aggregate market value of $7,700,005.		7,000,000		7,000,000
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $1,209,243; collateralized by various Common Stock with an aggregate market value of $1,320,000.		1,200,000		1,200,000
				17,800,000
Total Securities Lending Reinvestments (Cost $219,042,578)				219,064,335
Total Investments—113.6% (Cost $1,471,365,022)				1,961,158,328
Other assets and liabilities (net)—(13.6)%				(234,363,342	)
Net Assets—100.0%			$	1,726,794,986

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $215,083,406 and the collateral received consisted of cash in the amount of $217,465,254. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent 0.6% of net assets.
(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2019, the market value of restricted securities was $10,860,723, which is 0.6% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(f)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(g)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(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	$	15,555,193	$	10,860,723

BHFTII-48

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	38,071,819	$	—		$	—	$	38,071,819
Automobiles		13,278,238		—			—		13,278,238
Banks		6,705,705		—			—		6,705,705
Beverages		43,659,975		—			—		43,659,975
Biotechnology		21,218,816		—			—		21,218,816
Capital Markets		61,350,814		—			—		61,350,814
Chemicals		27,286,468		—			—		27,286,468
Construction Materials		21,595,805		—			—		21,595,805
Electronic Equipment, Instruments & Components		10,481,963		—			—		10,481,963
Entertainment		79,697,917		—			—		79,697,917
Equity Real Estate Investment Trusts		30,241,702		—			—		30,241,702
Health Care Equipment & Supplies		128,889,552		—			—		128,889,552
Health Care Providers & Services		75,011,071		—			—		75,011,071
Hotels, Restaurants & Leisure		22,236,605		—			—		22,236,605
Industrial Conglomerates		40,644,543		—			—		40,644,543
Interactive Media & Services		97,802,714		46,832,235			—		144,634,949
Internet & Direct Marketing Retail		215,906,464		—			—		215,906,464
IT Services		184,013,045		—			—		184,013,045
Life Sciences Tools & Services		36,317,415		—			—		36,317,415
Machinery		19,804,816		—			—		19,804,816
Pharmaceuticals		31,934,402		—			—		31,934,402
Professional Services		58,427,548		—			—		58,427,548
Road & Rail		28,920,584		—			—		28,920,584
Semiconductors & Semiconductor Equipment		62,696,288		—			—		62,696,288
Software		284,729,264		—			—		284,729,264
Specialty Retail		8,783,324		—			—		8,783,324
Textiles, Apparel & Luxury Goods		18,952,555		—			—		18,952,555
Total Common Stocks		1,668,659,412		46,832,235			—		1,715,491,647
Total Preferred Stock*		—		—			10,860,723		10,860,723
Total Short-Term Investment*		—		15,741,623			—		15,741,623
Total Securities Lending Reinvestments*		—		219,064,335			—		219,064,335
Total Investments	$	1,668,659,412	$	281,638,193		$	10,860,723	$	1,961,158,328
Collateral for Securities Loaned (Liability)	$	—	$	(217,465,254	)	$	—	$	(217,465,254	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

BHFTII-49

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investments—100.0% of Net Assets

Security Description	Principal Amount*		Value
Certificate of Deposit—26.7%
Bank of Montreal (Chicago) 2.902%, 1M LIBOR + 0.420%, 01/17/20 (a)		3,500,000	$	3,507,810
Bank of Nova Scotia (Houston) 2.833%, 3M LIBOR + 0.200%, 09/20/19 (a)		8,000,000		8,007,788
BNP Paribas S.A. (NY)
2.799%, 3M LIBOR + 0.190%, 09/27/19 (a)		5,000,000		5,004,200
2.874%, 3M LIBOR + 0.080%, 04/04/19 (a)		7,000,000		7,000,064
2.930%, 3M LIBOR + 0.150%, 04/18/19 (a)		7,000,000		7,000,140
3.045%, 3M LIBOR + 0.250%, 04/08/19 (a)		7,000,000		7,000,390
Canadian Imperial Bank of Commerce (NY)
2.653%, 1M LIBOR + 0.160%, 04/10/19 (a)		7,000,000		7,000,220
2.786%, 1M LIBOR + 0.300%, 07/25/19 (a)		6,000,000		6,003,744
2.792%, 1M LIBOR + 0.310%, 07/16/19 (a)		7,000,000		7,004,829
Credit Suisse AG 2.880%, SOFR + 0.450%, 07/12/19 (a)		7,000,000		7,005,617
Mitsubishi UFJ Trust & Banking Corp. (NY) 2.812%, 1M LIBOR + 0.320%, 05/08/19 (a)		12,000,000		12,004,561
Mizuho Bank, Ltd. (NY)
2.761%, 3M LIBOR + 0.010%, 07/30/19 (a)		10,000,000		9,999,300
2.772%, 1M LIBOR + 0.280%, 05/08/19 (a)		13,000,000		13,004,364
2.930%, 3M LIBOR + 0.150%, 04/18/19 (a)		5,000,000		5,000,371
MUFG Bank, Ltd.
2.771%, 1M LIBOR + 0.280%, 08/22/19 (a)		5,000,000		5,003,358
2.843%, 3M LIBOR + 0.180%, 02/24/20 (a)		4,300,000		4,299,973
National Bank of Canada (NY) 2.623%, 1M LIBOR + 0.130%, 12/11/19 (a)		8,000,000		7,999,561
Royal Bank of Canada (NY)
2.792%, 1M LIBOR + 0.310%, 08/16/19 (a)		8,000,000		8,006,169
2.794%, 3M LIBOR + 0.150%, 05/20/19 (a)		6,500,000		6,501,485
2.940%, SOFR + 0.510%, 01/09/20 (a)		6,500,000		6,513,151
Skandinaviska Enskilda Banken AB
2.620%, 10/21/19		10,000,000		10,002,566
2.713%, 3M LIBOR + 0.120%, 06/14/19 (a)		8,000,000		8,001,876
Sumitomo Mitsui Banking Corp. (NY) 2.897%, 3M LIBOR + 0.110%, 04/15/19 (a)		12,000,000		12,000,635
Sumitomo Mitsui Trust Bank, Ltd. (NY)
2.841%, 3M LIBOR + 0.190%, 02/25/20 (a)		4,000,000		3,997,920
2.883%, 3M LIBOR + 0.200%, 08/16/19 (a)		4,000,000		4,002,196
3.022%, 3M LIBOR + 0.235%, 01/15/20 (a)		8,000,000		8,008,349
Svenska Handelsbanken AB 2.731%, 1M LIBOR + 0.250%, 05/07/19 (a)		9,000,000		9,001,309
Swedbank AB
2.569%, 05/17/19 (b)		5,000,000		4,983,626
2.747%, 1M LIBOR + 0.260%, 05/21/19 (a)		15,000,000		15,005,758
				217,871,330
Commercial Paper—54.7%
Albion Capital Corp. 2.053%, 04/05/19 (b)		13,147,000		13,140,814
ASB Finance, Ltd. 2.847%, 3M LIBOR + 0.150%, 05/10/19 (a)		11,750,000		11,751,484
Atlantic Asset Securitization LLC
Zero Coupon, 04/01/19		12,581,000		12,578,431
2.598%, 06/05/19 (b)		5,574,000		5,547,383
Commercial Paper—(Continued)
Banque Federative du Credit Mutuel S.A.
2.694%, 12/02/19 (b)		6,000,000		5,892,390
Barclays Bank plc 2.820%, 05/08/19 (b)		8,000,000		8,002,511
Bedford Row Funding Corp. 2.830%, 1M LIBOR + 0.340%, 08/02/19 (a)		5,000,000		5,004,041
Bennington Sark Capital Co. LLC 1.690%, 04/03/19 (b)		8,800,000		8,796,941
BPCE 2.709%, 10/01/19 (b)		3,500,000		3,452,549
CAFCO LLC
2.558%, 04/12/19 (b)		18,000,000		17,982,864
2.574%, 05/14/19 (b)		6,500,000		6,479,261
Caisse des Depots et Consignations 2.530%, 05/06/19 (b)		13,000,000		12,966,271
Chariot Funding LLC
2.679%, 10/07/19 (b)		5,000,000		4,930,907
2.770%, 04/30/19 (b)		14,000,000		13,969,225
2.997%, 06/11/19 (b)		10,000,000		9,948,591
Charta LLC 2.828%, 07/22/19 (b)		10,000,000		9,917,743
CPPIB Capital, Inc. 2.727%, 03/09/20 (b)		10,000,000		9,732,619
Credit Industriel et Commercial (NY)
2.819%, 11/07/19 (b)		5,000,000		4,918,920
2.859%, 08/01/19 (b)		8,000,000		7,929,048
Crown Point Capital LLC
Zero Coupon, 04/01/19		13,500,000		13,497,199
2.920%, 05/06/19 (b)		8,000,000		8,003,538
Federation des Caisses Desjardins du Quebec
2.719%, 1M LIBOR + 0.220%, 08/13/19 (a)		5,300,000		5,302,278
2.863%, 1M LIBOR + 0.370%, 12/10/19 (a)		7,000,000		7,010,651
HSBC Bank plc
2.618%, 06/19/19 (b)		8,000,000		7,953,260
2.929%, 3M LIBOR + 0.150%, 04/24/19 (a)		8,000,000		8,000,764
ING U.S. Funding LLC
2.797%, 1M LIBOR + 0.310%, 05/21/19 (a)		8,000,000		8,003,235
2.897%, 3M LIBOR + 0.100%, 04/12/19 (a)		8,000,000		8,000,415
Landesbank Baden-Wuettertemberg 2.028%, 04/05/19 (b)		29,611,000		29,596,692
Landesbk Hessen 2.450%, 04/04/19 (b)		25,000,000		25,000,074
Liberty Funding LLC 2.563%, 05/13/19 (b)		10,000,000		9,968,812
National Australia Bank, Ltd. 2.740%, 1M LIBOR + 0.250%, 04/02/19 (a)		8,000,000		8,000,285
Nestle Finance International, Ltd. 2.635%, 08/21/19 (b)		10,000,000		9,898,581
Old Line Funding LLC
2.735%, 04/26/19 (b)		8,500,000		8,483,690
2.758%, 07/25/19 (b)		9,000,000		8,925,719
2.899%, 08/14/19 (b)		7,000,000		6,932,058
OMERS Finance Trust
2.537%, 06/04/19 (b)		15,000,000		14,929,259
2.546%, 06/03/19 (b)		5,000,000		4,976,790

BHFTII-50

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Oversea-Chinese Banking Corp., Ltd. 2.652%, 1M LIBOR + 0.160%, 04/08/19 (a)		7,000,000	$	7,000,444
Suncorp Group, Ltd. 2.876%, 06/11/19 (b)		8,000,000		7,955,781
Toronto-Dominion Bank 2.793%, 06/10/19 (b)		5,000,000		5,002,765
UBS AG
2.756%, 1M LIBOR + 0.260%, 08/28/19 (a)		5,500,000		5,502,437
2.890%, 1M LIBOR + 0.400%, 07/02/19 (144A) (a)		5,000,000		5,004,494
2.916%, 3M LIBOR + 0.180%, 08/01/19 (144A) (a)		5,000,000		5,001,775
2.919%, 1M LIBOR + 0.420%, 05/31/19 (a)		7,000,000		7,005,041
2.945%, 3M LIBOR + 0.320%, 12/19/19 (a)		4,000,000		4,005,644
3.124%, 3M LIBOR + 0.330%, 04/04/19 (a)		5,000,000		5,000,115
United Overseas Bank, Ltd.
2.312%, 04/05/19 (b)		7,000,000		6,996,706
2.868%, 05/17/19 (b)		10,000,000		9,966,340
Westpac Banking Corp.
2.812%, 1M LIBOR + 0.320%, 11/08/19 (a)		7,000,000		7,007,430
2.916%, 3M LIBOR + 0.180%, 11/01/19 (a)		6,000,000		6,005,140
				446,879,405
Repurchase Agreements—18.6%
Bank of America Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $27,005,738,; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $27,300,740.		27,000,000		27,000,000
Repurchase Agreements—(Continued)
JPMorgan Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/01/19 with a maturity value of $125,027,083; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $127,025,084.		125,000,000		125,000,000
				152,000,000
Total Short-Term Investments (Cost $816,601,011)				816,750,735
Total Investments—100.0% (Cost $816,601,011)				816,750,735
Other assets and liabilities (net)—0.0%				93,234
Net Assets—100.0%			$	816,843,969

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	The rate shown represents current yield to maturity.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2019, the market value of 144A securities was $10,006,269, which is 1.2% of net assets.
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Total Short-Term Investments*	$	—	$	816,750,735	$	—	$	816,750,735
Total Investments	$	—	$	816,750,735	$	—	$	816,750,735

* See Schedule of Investments for additional detailed categorizations.

BHFTII-51

Brighthouse Funds Trust II

Brighthouse Asset Allocation 20 Portfolio

Schedule of Investments as of March 31, 2019 (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)		660,675	$	8,311,290
BlackRock Bond Income Portfolio (Class A) (a)		652,033		69,434,952
BlackRock Capital Appreciation Portfolio (Class A) (a)		91,452		4,154,671
BlackRock High Yield Portfolio (Class A) (b)		356,929		2,769,765
Brighthouse Small Cap Value Portfolio (Class A) (b)		180,358		2,770,291
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		131,194		1,391,963
Brighthouse/Artisan International Portfolio (Class A) (b)		503,557		5,529,052
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		5,818		1,379,585
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		1,060,671		10,977,942
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		2,847,891		27,624,545
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		1,305,781		13,606,242
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		286,797		9,791,264
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		363,735		5,525,137
Clarion Global Real Estate Portfolio (Class A) (b)		225,290		2,786,842
Harris Oakmark International Portfolio (Class A) (b)		615,049		8,180,149
Invesco Comstock Portfolio (Class A) (b)		742,386		11,002,161
Jennison Growth Portfolio (Class A) (a)		243,162		4,145,919
JPMorgan Core Bond Portfolio (Class A) (b)		4,579,021		47,209,705
JPMorgan Small Cap Value Portfolio (Class A) (b)		174,379		2,762,158
MFS Research International Portfolio (Class A) (b)		341,309		4,140,084
MFS Value Portfolio (Class A) (a)		802,169		12,505,810
Neuberger Berman Genesis Portfolio (Class A) (a)		130,882		2,796,938
Affiliated Investment Companies—(Continued)
Oppenheimer Global Equity Portfolio (Class A) (b)		57,883		1,382,835
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		5,032,274		49,920,162
PIMCO Total Return Portfolio (Class A) (b)		5,668,953		66,553,510
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		172,480		4,142,964
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		260,567		8,309,479
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		117,389		1,389,882
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		167,916		4,184,458
TCW Core Fixed Income Portfolio (Class A) (b)		5,132,894		52,766,154
Van Eck Global Natural Resources Portfolio (Class A) (a)		798,949		6,966,837
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		2,069,620		27,753,600
Western Asset Management U.S. Government Portfolio (Class A) (a)		6,138,713		72,068,496
Total Mutual Funds (Cost $554,933,237)				554,234,842
Total Investments—100.1% (Cost $554,933,237)				554,234,842
Other assets and liabilities (net)—(0.1)%				(328,746	)
Net Assets—100.0%			$	553,906,096

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	554,234,842	$	—	$	—	$	554,234,842
Total Investments	$	554,234,842	$	—	$	—	$	554,234,842

BHFTII-52

Brighthouse Funds Trust II

Brighthouse Asset Allocation 40 Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		12,083,183	$	152,006,448
BlackRock Bond Income Portfolio (Class A) (a)		4,953,974		527,548,726
BlackRock Capital Appreciation Portfolio (Class A) (a)		2,136,527		97,062,424
BlackRock High Yield Portfolio (Class A) (b)		3,571,063		27,711,452
Brighthouse Small Cap Value Portfolio (Class A) (b)		2,614,095		40,152,494
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		5,224,405		55,430,941
Brighthouse/Artisan International Portfolio (Class A) (b)		10,009,825		109,907,884
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		56,473		13,390,932
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		10,619,473		109,911,549
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		17,100,762		165,877,391
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		15,610,400		162,660,372
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		6,119,356		208,914,816
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		8,187,150		124,362,815
Clarion Global Real Estate Portfolio (Class A) (b)		3,364,126		41,614,239
ClearBridge Aggressive Growth Portfolio (Class A) (b)		3,025,389		53,609,885
Harris Oakmark International Portfolio (Class A) (b)		12,063,744		160,447,791
Invesco Comstock Portfolio (Class A) (b)		11,903,724		176,413,184
Invesco Small Cap Growth Portfolio (Class A) (b)		1,861,483		27,010,123
Jennison Growth Portfolio (Class A) (a)		4,055,862		69,152,447
JPMorgan Core Bond Portfolio (Class A) (b)		34,998,442		360,833,940
JPMorgan Small Cap Value Portfolio (Class A) (b)		2,513,435		39,812,805
MFS Research International Portfolio (Class A) (b)		6,816,874		82,688,680
MFS Value Portfolio (Class A) (a)		14,189,449		221,213,510
Affiliated Investment Companies—(Continued)
Neuberger Berman Genesis Portfolio (Class A) (a)		1,292,666		27,624,277
Oppenheimer Global Equity Portfolio (Class A) (b)		2,312,427		55,243,874
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		33,569,682		333,011,243
PIMCO Total Return Portfolio (Class A) (b)		42,545,391		499,482,888
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		4,031,165		96,828,595
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		6,060,275		193,262,180
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		2,345,349		27,768,931
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		2,216,538		55,236,126
TCW Core Fixed Income Portfolio (Class A) (b)		40,501,280		416,353,154
Van Eck Global Natural Resources Portfolio (Class A) (a)		12,533,222		109,289,693
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		1,200,810		13,869,358
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		16,577,884		222,309,420
Western Asset Management U.S. Government Portfolio (Class A) (a)		37,818,688		443,991,403
Total Mutual Funds (Cost $5,382,340,100)				5,522,005,990
Total Investments—100.0% (Cost $5,382,340,100)				5,522,005,990
Other assets and liabilities (net)—0.0%				(1,690,509	)
Net Assets—100.0%			$	5,520,315,481

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	5,522,005,990	$	—	$	—	$	5,522,005,990
Total Investments	$	5,522,005,990	$	—	$	—	$	5,522,005,990

BHFTII-53

Brighthouse Funds Trust II

Brighthouse Asset Allocation 60 Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		35,292,626	$	443,981,240
BlackRock Bond Income Portfolio (Class A) (a)		7,711,679		821,216,667
BlackRock Capital Appreciation Portfolio (Class A) (a)		7,689,205		349,320,582
BlackRock High Yield Portfolio (Class A) (b)		9,783,045		75,916,429
Brighthouse Small Cap Value Portfolio (Class A) (b)		9,987,172		153,402,957
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		20,951,453		222,294,916
Brighthouse/Artisan International Portfolio (Class A) (b)		34,386,043		377,558,748
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		129,461		30,697,697
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		9,946,151		120,746,272
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		24,174,213		250,203,100
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		25,926,172		251,483,868
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		35,584,603		370,791,567
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		16,743,278		571,615,498
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		25,050,389		380,515,402
Clarion Global Real Estate Portfolio (Class A) (b)		15,315,320		189,450,511
ClearBridge Aggressive Growth Portfolio (Class A) (b)		19,134,743		339,067,638
Harris Oakmark International Portfolio (Class A) (b)		34,284,142		455,979,092
Invesco Comstock Portfolio (Class A) (b)		35,751,541		529,837,843
Invesco Small Cap Growth Portfolio (Class A) (b)		10,685,642		155,048,658
Jennison Growth Portfolio (Class A) (a)		24,200,264		412,614,495
JPMorgan Core Bond Portfolio (Class A) (b)		55,118,515		568,271,887
JPMorgan Small Cap Value Portfolio (Class A) (b)		5,774,153		91,462,576
Loomis Sayles Small Cap Growth Portfolio (Class A) (a)		4,116,634		62,572,844
MFS Research International Portfolio (Class A) (b)		20,832,417		252,697,219
Affiliated Investment Companies—(Continued)
MFS Value Portfolio (Class A) (a)		44,775,859		698,055,647
Neuberger Berman Genesis Portfolio (Class A) (a)		4,444,684		94,982,905
Oppenheimer Global Equity Portfolio (Class A) (b)		5,298,776		126,587,766
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		38,252,041		379,460,244
PIMCO Total Return Portfolio (Class A) (b)		64,527,287		757,550,347
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		14,530,538		349,023,535
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		17,859,515		569,539,927
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		8,046,389		95,269,250
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		7,628,451		190,101,011
TCW Core Fixed Income Portfolio (Class A) (b)		66,335,745		681,931,457
Van Eck Global Natural Resources Portfolio (Class A) (a)		42,459,108		370,243,425
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		2,749,473		31,756,417
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		18,871,479		253,066,528
Western Asset Management U.S. Government Portfolio (Class A) (a)		43,022,904		505,088,889
Total Mutual Funds (Cost $12,032,026,482)				12,579,405,054
Total Investments—100.0% (Cost $12,032,026,482)				12,579,405,054
Other assets and liabilities (net)—0.0%				(3,394,520	)
Net Assets—100.0%			$	12,576,010,534

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	12,579,405,054	$	—	$	—	$	12,579,405,054
Total Investments	$	12,579,405,054	$	—	$	—	$	12,579,405,054

BHFTII-54

Brighthouse Funds Trust II

Brighthouse Asset Allocation 80 Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		34,840,955	$	438,299,211
BlackRock Bond Income Portfolio (Class A) (a)		2,870,930		305,725,333
BlackRock Capital Appreciation Portfolio (Class A) (a)		7,394,221		335,919,481
BlackRock High Yield Portfolio (Class A) (b)		6,586,514		51,111,346
Brighthouse Small Cap Value Portfolio (Class A) (b)		11,376,575		174,744,196
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		24,400,896		258,893,509
Brighthouse/Artisan International Portfolio (Class A) (b)		34,993,246		384,225,845
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		105,176		24,939,382
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		16,008,342		194,341,270
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		9,649,601		99,873,369
Brighthouse/Templeton International Bond Portfolio (Class A) (b) (c)		28,437,551		296,319,282
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		15,135,293		516,718,897
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		23,716,618		360,255,427
Clarion Global Real Estate Portfolio (Class A) (b)		20,748,063		256,653,533
ClearBridge Aggressive Growth Portfolio (Class A) (b)		25,448,314		450,944,121
Frontier Mid Cap Growth Portfolio (Class A) (a)		1,323,499		51,656,175
Harris Oakmark International Portfolio (Class A) (b)		34,939,799		464,699,330
Invesco Comstock Portfolio (Class A) (b)		37,711,339		558,882,047
Invesco Small Cap Growth Portfolio (Class A) (b)		15,659,681		227,221,970
Jennison Growth Portfolio (Class A) (a)		30,256,593		515,874,908
JPMorgan Core Bond Portfolio (Class A) (b)		19,730,374		203,420,152
JPMorgan Small Cap Value Portfolio (Class A) (b)		9,386,168		148,676,900
Loomis Sayles Small Cap Growth Portfolio (Class A) (a)		8,360,988		127,087,023
MFS Research International Portfolio (Class A) (b)		25,424,349		308,397,357
MFS Value Portfolio (Class A) (a)		39,627,444		617,791,853
Affiliated Investment Companies—(Continued)
Morgan Stanley Discovery Portfolio (formerly, Morgan Stanley Mid Cap Growth Portfolio) (Class A) (b)		1,062,295		25,133,892
Neuberger Berman Genesis Portfolio (Class A) (a)		1,204,911		25,748,958
Oppenheimer Global Equity Portfolio (Class A) (b)		6,466,347		154,481,024
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		15,400,722		152,775,164
PIMCO Total Return Portfolio (Class A) (b)		25,981,619		305,024,201
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		18,235,516		438,017,104
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		16,931,143		539,934,159
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		8,715,430		103,190,688
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		6,204,943		154,627,188
TCW Core Fixed Income Portfolio (Class A) (b)		24,743,972		254,368,032
Van Eck Global Natural Resources Portfolio (Class A) (a)		39,683,618		346,041,147
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		8,921,916		103,048,126
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		15,233,930		204,287,008
Total Mutual Funds (Cost $9,493,740,384)				10,179,348,608
Total Investments—100.0% (Cost $9,493,740,384)				10,179,348,608
Other assets and liabilities (net)—0.0%				(2,790,309	)
Net Assets—100.0%			$	10,176,558,299

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	10,179,348,608	$	—	$	—	$	10,179,348,608
Total Investments	$	10,179,348,608	$	—	$	—	$	10,179,348,608

BHFTII-55

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—92.8% of Net Assets

Security Description	Shares		Value
Auto Components—3.8%
Delphi Technologies plc		721,833	$	13,902,504
Gentex Corp. (a)		1,000,584		20,692,077
				34,594,581
Banks—9.2%
BOK Financial Corp.		178,080		14,522,424
Fifth Third Bancorp (a)		627,732		15,831,401
M&T Bank Corp.		159,730		25,080,805
Pinnacle Financial Partners, Inc. (a)		260,648		14,257,446
SunTrust Banks, Inc.		229,442		13,594,438
				83,286,514
Capital Markets—1.2%
Intercontinental Exchange, Inc.		149,000		11,344,860
Chemicals—7.4%
Axalta Coating Systems, Ltd. (a) (b)		716,303		18,057,999
Celanese Corp.		318,164		31,374,152
Nutrien, Ltd. (a)		343,362		18,115,779
				67,547,930
Construction & Engineering—3.9%
Fluor Corp.		375,976		13,835,917
Jacobs Engineering Group, Inc. (a)		289,382		21,758,632
				35,594,549
Consumer Finance—2.3%
Synchrony Financial		670,000		21,373,000
Diversified Consumer Services—2.1%
H&R Block, Inc. (a)		798,695		19,120,758
Electronic Equipment, Instruments & Components—2.0%
Arrow Electronics, Inc. (b)		235,148		18,120,505
Entertainment—1.6%
Lions Gate Entertainment Corp. - Class B		355,746		5,371,765
Lions Gate Entertainment Corp. - Class A (a)		586,625		9,174,815
				14,546,580
Equity Real Estate Investment Trusts—3.2%
Equity Commonwealth		605,047		19,778,986
STORE Capital Corp. (a)		279,831		9,374,339
				29,153,325
Food & Staples Retailing—2.8%
Kroger Co. (The) (a)		1,017,885		25,039,971
Health Care Equipment & Supplies—2.7%
DENTSPLY SIRONA, Inc. (a)		487,254		24,162,926
Health Care Providers & Services—1.8%
AmerisourceBergen Corp.		204,398		16,253,729
Insurance—12.1%
Alleghany Corp. (b)		9,591		5,873,528
Aon plc		120,079		20,497,485
Arch Capital Group, Ltd. (b)		724,003		23,399,777
Fairfax Financial Holdings, Ltd.		10,044		4,671,565
Loews Corp.		294,050		14,093,817
Progressive Corp. (The)		227,494		16,400,043
Torchmark Corp.		307,093		25,166,271
				110,102,486
Interactive Media & Services—2.6%
IAC/InterActiveCorp (b)		110,539		23,225,349
Internet & Direct Marketing Retail—3.5%
Expedia Group, Inc.		91,125		10,843,875
Liberty Expedia Holdings, Inc. - Class A (b)		260,724		11,158,987
Qurate Retail, Inc. (b)		600,570		9,597,109
				31,599,971
Marine—2.4%
Kirby Corp. (a) (b)		291,804		21,917,398
Media—8.7%
CBS Corp. - Class B		412,743		19,617,675
GCI Liberty, Inc. - Class A (a) (b)		410,783		22,843,642
News Corp. - Class A		1,277,829		15,896,193
Omnicom Group, Inc. (a)		289,818		21,153,816
				79,511,326
Oil, Gas & Consumable Fuels—4.9%
Apache Corp. (a)		186,977		6,480,623
Cimarex Energy Co. (a)		141,768		9,909,583
Devon Energy Corp. (a)		326,340		10,299,291
Hess Corp. (a)		171,748		10,344,382
Marathon Petroleum Corp.		127,800		7,648,830
				44,682,709
Road & Rail—5.2%
AMERCO (a)		68,932		25,608,927
Ryder System, Inc.		351,737		21,804,177
				47,413,104
Semiconductors & Semiconductor Equipment—3.0%
Analog Devices, Inc.		254,856		26,828,691
Specialty Retail—2.5%
AutoNation, Inc. (a) (b)		641,521		22,915,130
Technology Hardware, Storage & Peripherals—1.1%
NetApp, Inc.		144,404		10,012,973
Trading Companies & Distributors—2.8%
Air Lease Corp. (a)		733,943		25,210,942
Total Common Stocks (Cost $670,789,422)				843,559,307

BHFTII-56

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investment—7.0%

Security Description	Principal Amount*		Value
Repurchase Agreement—7.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $63,512,031; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $64,776,048.		63,505,680	$	63,505,680
Total Short-Term Investments (Cost $63,505,680)				63,505,680
Securities Lending Reinvestments (c)—20.7%
Bank Note—0.2%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (d)		1,500,000		1,500,000
Certificates of Deposit—12.4%
Banco Santander S.A. 2.790%, 04/16/19		2,000,000		2,000,342
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (d)		2,000,000		2,001,932
Bank of Nova Scotia 2.967%, 3M LIBOR + 0.170%, 01/09/20 (d)		2,000,000		2,000,112
Barclays Bank plc 2.950%, 08/02/19		5,000,000		5,001,350
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (d)		1,000,000		999,994
Canadian Imperial Bank of Commerce
2.734%, 1M LIBOR + 0.250%, 10/15/19 (d)		5,000,000		5,004,100
2.752%, 1M LIBOR + 0.270%, 07/19/19 (d)		1,000,000		1,000,611
Chiba Bank, Ltd. 2.580%, 06/03/19		1,000,000		999,937
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (d)		1,500,000		1,500,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (d)		1,500,000		1,500,369
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (d)		4,000,000		4,001,772
2.995%, 3M LIBOR + 0.200%, 04/05/19 (d)		2,000,000		2,000,134
Credit Agricole S.A.
2.698%, 1M LIBOR + 0.210%, 12/20/19 (d)		2,000,000		2,000,104
2.807%, 1M LIBOR + 0.320%, 05/21/19 (d)		3,000,000		3,000,774
Credit Industriel et Commercial 2.887%, 3M LIBOR + 0.090%, 10/15/19 (d)		2,500,000		2,500,907
HSBC Bank USA, N.A. 2.738%, 3M LIBOR, 08/05/19 (d)		4,000,000		3,999,641
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		4,000,000		4,000,336
KBC Bank NV Zero Coupon, 04/23/19		3,972,586		3,994,320
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 04/16/19		2,979,294		2,996,340
Mizuho Bank, Ltd.
Zero Coupon, 05/28/19		993,371		995,848
MUFG Bank Ltd. 2.800%, 07/16/19		1,000,000		1,000,618
Nationwide Building Society Zero Coupon, 06/24/19		3,963,035		3,974,755
Certificates of Deposit—(Continued)
Natixis New York 2.788%, 3M LIBOR + 0.090%, 05/10/19 (d)		1,000,000		1,000,214
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		3,000,000		3,001,686
Shizuoka Bank, Ltd. 2.600%, 05/07/19		1,000,000		1,000,045
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (d)		6,000,000		6,000,396
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (d)		4,004,615		4,002,272
2.899%, 3M LIBOR + 0.160%, 05/07/19 (d)		1,000,000		1,000,252
Standard Chartered plc 2.660%, 08/23/19		4,000,000		4,000,712
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (d)		5,000,000		5,001,145
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (d)		2,000,000		2,000,076
Sumitomo Mitsui Banking Corp., New York 2.692%, 1M LIBOR + 0.210%, 05/17/19 (d)		3,000,000		3,000,468
Sumitomo Mitsui Trust Bank, Ltd.
2.600%, 07/05/19		4,000,000		4,000,204
2.904%, 3M LIBOR + 0.100%, 07/08/19 (d)		2,000,000		1,999,996
Svenska Handelsbanken AB
2.851%, 3M LIBOR + 0.100%, 04/30/19 (d)		4,000,000		4,001,080
2.873%, 1M LIBOR + 0.380%, 12/10/19 (d)		2,000,000		2,003,516
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		2,000,000		2,001,028
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (d)		1,000,000		1,000,410
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (d)		7,000,000		6,999,450
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (d)		4,000,000		3,999,977
				112,487,223
Commercial Paper—3.4%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (d)		3,000,000		3,000,039
Bank of China, Ltd. 2.890%, 04/17/19		4,963,875		4,992,895
China Construction Bank Corp.
2.840%, 04/29/19		1,985,169		1,995,580
2.860%, 04/18/19		992,850		998,581
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (d)		4,000,000		4,000,000
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (d)		4,000,000		4,000,556
Matchpoint Finance plc
2.450%, 04/01/19		1,999,592		1,999,562
2.890%, 05/08/19		1,970,939		1,994,118
Sheffield Receivables Co. 2.850%, 06/24/19		1,973,558		1,987,232
Toyota Motor Credit Corp.
2.620%, 08/29/19		1,974,237		1,978,230

BHFTII-57

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (d)		4,000,000	$	4,001,708
				30,948,501
Repurchase Agreements—3.1%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $2,015,719; collateralized by various Common Stock with an aggregate market value of $2,200,552.		2,000,000		2,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $2,005,444; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $11,735; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $11,968.		11,733		11,733
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $11,150; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $11,370.		11,147		11,147
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $600,125; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $612,000.		600,000		600,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $2,553,517; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $2,604,040.		2,552,981		2,552,981
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $8,931,151; collateralized by various Common Stock with an aggregate market value of $9,350,006.		8,500,000		8,500,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $1,411,094; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,499,898.		1,400,000		1,400,000
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $3,079,693; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,336,605.		3,000,000		3,000,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $5,131,078; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $5,561,008.		5,000,000		5,000,000
				28,075,861
Time Deposits—1.6%
Den Norske Bank 2.350%, 04/01/19		4,000,000		4,000,000
DZ Bank AG New York 2.430%, 04/01/19		2,000,000		2,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		5,000,000		5,000,000
Svenska, New York 2.360%, 04/01/19		2,000,000		2,000,000
				15,000,000
Total Securities Lending Reinvestments (Cost $187,985,574)				188,011,585
Total Investments—120.5% (Cost $922,280,676)				1,095,076,572
Other assets and liabilities (net)—(20.5)%				(186,607,965	)
Net Assets—100.0%			$	908,468,607

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $183,440,890 and the collateral received consisted of cash in the amount of $187,848,982. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.

BHFTII-58

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	843,559,307	$	—		$	—	$	843,559,307
Total Short-Term Investment*		—		63,505,680			—		63,505,680
Total Securities Lending Reinvestments*		—		188,011,585			—		188,011,585
Total Investments	$	843,559,307	$	251,517,265		$	—	$	1,095,076,572
Collateral for Securities Loaned (Liability)	$	—	$	(187,848,982	)	$	—	$	(187,848,982	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-59

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—98.5% of Net Assets

Security Description	Shares		Value
Australia—6.8%
A2B Australia, Ltd.		55,813	$	83,358
Accent Group, Ltd.		90,942		93,157
Adairs, Ltd.		20,017		24,636
Adelaide Brighton, Ltd.		118,950		381,966
AED Oil, Ltd. (a) (b) (c) (d)		93,946		0
Ainsworth Game Technology, Ltd.		51,616		30,988
Alkane Resources, Ltd. (a)		120,355		23,528
ALS, Ltd.		85,609		462,461
Altium, Ltd.		29,859		689,693
AMA Group, Ltd.		111,029		86,052
Amaysim Australia, Ltd. (a)		29,484		13,628
Ansell, Ltd.		36,143		653,199
AP Eagers, Ltd.		9,996		52,193
Appen, Ltd.		21,412		341,449
ARB Corp., Ltd.		28,061		343,538
Ardent Leisure Group, Ltd.		113,950		91,874
ARQ Group, Ltd.		41,278		58,151
Asaleo Care, Ltd. (a)		98,648		62,902
AUB Group, Ltd.		29,816		276,929
Aurelia Metals, Ltd. (a)		169,705		107,387
Ausdrill, Ltd.		186,432		216,968
Austal, Ltd.		81,889		130,982
Australian Agricultural Co., Ltd. (a)		192,359		138,774
Australian Finance Group, Ltd.		11,568		10,187
Australian Pharmaceutical Industries, Ltd.		174,311		187,737
Auswide Bank, Ltd.		9,275		33,993
Automotive Holdings Group, Ltd.		101,744		126,904
Aveo Group		113,281		158,803
AVJennings, Ltd.		10,332		3,533
Baby Bunting Group, Ltd.		5,851		9,147
Bank of Queensland, Ltd.		52,993		343,579
Bapcor, Ltd.		48,412		190,023
Beach Energy, Ltd.		518,333		760,565
Bega Cheese, Ltd.		77,553		252,006
Bellamy’s Australia, Ltd. (a)		26,287		207,830
Bingo Industries, Ltd.		74,763		81,521
Blackmores, Ltd.		4,893		324,025
Blue Sky Alternative Investments, Ltd. (a)		6,725		2,342
Bravura Solutions, Ltd.		52,323		203,715
Breville Group, Ltd.		34,410		399,223
Brickworks, Ltd.		5,923		73,019
Bubs Australia, Ltd. (a) (c)		5,279		3,310
Buru Energy, Ltd. (a)		72,570		13,340
BWX, Ltd.		2,270		3,677
Capitol Health, Ltd.		260,324		40,685
Capral, Ltd.		136,176		12,585
Cardno, Ltd. (a)		69,333		52,437
Carnarvon Petroleum, Ltd. (a)		317,906		94,001
carsales.com, Ltd.		79,391		714,035
Cash Converters International, Ltd. (a)		152,939		19,009
Cedar Woods Properties, Ltd.		27,273		102,619
Centuria Capital Group		26,000		25,847
Citadel Group, Ltd. (The)		4,283		22,542
Cleanaway Waste Management, Ltd.		596,606		942,183
Clinuvel Pharmaceuticals, Ltd.		5,706		99,569
Clover Corp., Ltd.		39,945		58,744
CML Group, Ltd.		38,067		13,277
Australia—(Continued)
Codan, Ltd.		27,939		62,352
Collection House, Ltd.		40,783		37,365
Collins Foods, Ltd.		30,579		157,849
Cooper Energy, Ltd. (a)		552,999		196,536
Corporate Travel Management, Ltd.		22,148		401,215
Costa Group Holdings, Ltd.		62,749		229,520
Credit Corp. Group, Ltd.		14,068		221,541
CSG, Ltd. (a)		85,825		13,091
CSR, Ltd.		239,936		568,134
Cudeco, Ltd. (a) (b) (c) (d)		51,210		1,604
Data #3, Ltd.		55,471		69,781
Decmil Group, Ltd.		78,588		47,379
Dicker Data, Ltd.		5,634		16,400
Domain Holdings Australia, Ltd.		96,746		175,560
Domino’s Pizza Enterprises, Ltd.		9,123		281,526
Doray Minerals, Ltd. (a)		44,069		17,378
Downer EDI, Ltd.		90,435		494,330
DuluxGroup, Ltd.		144,897		762,262
DWS, Ltd.		36,847		27,347
Eclipx Group, Ltd.		26,542		12,115
Elders, Ltd.		37,690		162,748
Emeco Holdings, Ltd. (a)		76,020		104,393
EML Payments, Ltd. (a)		40,003		49,878
Energy Resources of Australia, Ltd. (a)		51,910		9,980
Energy World Corp., Ltd. (a)		325,379		21,560
EQT Holdings, Ltd.		3,062		56,676
ERM Power, Ltd.		49,991		67,367
Estia Health, Ltd.		39,193		74,955
Euroz, Ltd.		23,559		19,237
Event Hospitality and Entertainment, Ltd.		38,556		372,786
FAR, Ltd. (a)		653,097		26,867
Finbar Group, Ltd.		6,909		4,147
Fleetwood Corp., Ltd. (a)		35,042		47,768
FlexiGroup, Ltd.		60,577		59,653
G8 Education, Ltd.		158,694		341,806
Galaxy Resources, Ltd. (a)		98,235		131,505
Genworth Mortgage Insurance Australia, Ltd.		58,063		98,644
Gold Road Resources, Ltd. (a)		211,954		145,675
GrainCorp, Ltd. - Class A		83,590		545,542
Grange Resources, Ltd.		120,000		23,455
Greenland Minerals Ltd. (a)		349,524		12,447
GUD Holdings, Ltd.		39,734		337,010
GWA Group, Ltd.		92,856		210,270
Hansen Technologies, Ltd.		50,238		103,911
Harvey Norman Holdings, Ltd.		59,103		168,895
Healius, Ltd.		291,166		544,022
Healthscope, Ltd.		115,676		199,861
Hills, Ltd. (a)		80,453		9,434
Horizon Oil, Ltd. (a)		652,736		50,646
HT&E, Ltd.		109,386		132,854
HUB24, Ltd.		9,092		89,315
Huon Aquaculture Group, Ltd.		2,742		9,224
IDM International, Ltd. (a) (b) (c) (d)		1,969		0
IDP Education, Ltd.		12,051		124,944
Iluka Resources, Ltd.		65,586		420,747
Imdex, Ltd.		100,165		76,286
IMF Bentham, Ltd. (a)		62,005		114,615

BHFTII-60

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Australia—(Continued)
Independence Group NL		112,057	$	388,929
Infigen Energy, Ltd. (a)		343,467		107,527
Infomedia, Ltd.		131,353		142,591
Inghams Group, Ltd.		61,587		191,391
Integral Diagnostics, Ltd.		14,892		26,372
Integrated Research, Ltd.		28,972		53,578
International Ferro Metals, Ltd. (a) (b) (c) (d)		82,765		0
Invocare, Ltd.		40,710		411,013
IOOF Holdings, Ltd.		118,246		517,453
IPH, Ltd.		43,902		219,750
Iress, Ltd.		54,057		504,073
iSelect, Ltd. (a)		46,213		21,974
iSentia Group, Ltd. (a)		28,120		4,108
IVE Group, Ltd.		19,754		30,619
Japara Healthcare, Ltd.		32,040		31,885
JB Hi-Fi, Ltd.		46,350		823,120
Jumbo Interactive, Ltd.		12,118		111,638
Jupiter Mines, Ltd.		172,194		41,640
Karoon Energy, Ltd. (a)		75,600		55,874
Kingsgate Consolidated, Ltd. (a)		121,238		19,832
Kogan.com, Ltd.		15,239		38,415
Lifestyle Communities, Ltd.		10,784		42,068
Link Administration Holdings, Ltd.		80,676		423,517
Lovisa Holdings, Ltd.		11,216		71,640
Lycopodium, Ltd.		2,902		10,626
Lynas Corp., Ltd. (a)		171,099		254,488
MACA, Ltd.		56,351		39,250
Macmahon Holdings, Ltd. (a)		380,170		62,158
MaxiTRANS Industries, Ltd.		59,013		13,004
Mayne Pharma Group, Ltd. (a)		452,144		223,589
McMillan Shakespeare, Ltd.		29,453		251,533
McPherson’s, Ltd.		34,460		27,175
Medusa Mining, Ltd. (a)		60,972		16,666
Metals X, Ltd. (a)		84,827		14,194
Metcash, Ltd.		385,184		725,010
Millennium Minerals, Ltd. (a)		63,242		7,637
Mincor Resources NL (a)		105,687		32,672
Mineral Resources, Ltd.		41,091		462,997
MMA Offshore, Ltd. (a)		200,470		22,076
Moelis Australia, Ltd.		4,454		13,609
Monadelphous Group, Ltd.		40,177		497,065
Monash IVF Group, Ltd.		21,931		16,590
Money3 Corp., Ltd.		25,929		34,852
Morning Star Gold NL (a) (b) (c) (d)		33,455		0
Mortgage Choice, Ltd.		48,689		34,261
Mount Gibson Iron, Ltd.		406,465		269,235
Myer Holdings, Ltd. (a)		355,143		157,045
MYOB Group, Ltd.		110,434		261,589
MyState, Ltd.		13,575		41,853
Navigator Global Investments, Ltd.		45,623		100,923
Navitas, Ltd.		85,117		349,695
NetComm Wireless, Ltd. (a)		18,166		13,838
New Hope Corp., Ltd.		32,928		70,487
NEXTDC, Ltd. (a)		76,629		344,133
nib holdings, Ltd.		171,993		639,563
Nick Scali, Ltd.		21,771		87,761
Nine Entertainment Co. Holdings, Ltd.		529,025		643,365
Australia—(Continued)
NRW Holdings, Ltd.		120,820		204,558
Nufarm, Ltd.		112,275		377,020
OceanaGold Corp.		174,211		547,526
OFX Group, Ltd.		99,303		117,818
OM Holdings, Ltd.		21,506		18,635
Onevue Holdings, Ltd. (a)		33,268		10,282
oOh!media, Ltd.		55,990		155,001
Orora, Ltd.		202,221		429,750
Ovato, Ltd. (a)		158,703		9,677
OZ Minerals, Ltd.		134,369		1,017,738
Pacific Current Group, Ltd.		8,717		30,856
Pacific Niugini, Ltd. (a)		61,527		10,932
Pacific Smiles Group, Ltd.		13,431		11,112
Pact Group Holdings, Ltd.		9,541		18,915
Panoramic Resources, Ltd. (a)		167,563		50,091
Paragon Care, Ltd.		45,405		14,517
Peet, Ltd.		88,199		63,919
Pendal Group, Ltd.		62,285		411,145
Perpetual, Ltd.		17,753		487,552
Perseus Mining, Ltd. (a)		231,401		74,860
Platinum Asset Management, Ltd.		64,511		210,343
Pluton Resources, Ltd. (a) (b) (c) (d)		48,332		0
Praemium, Ltd. (a)		98,955		41,533
Premier Investments, Ltd.		44,992		520,782
Prime Media Group, Ltd. (a)		93,371		16,556
Pro Medicus, Ltd.		13,002		136,901
PWR Holdings, Ltd.		5,725		14,245
Qube Holdings, Ltd.		197,535		393,189
Quintis, Ltd. (a) (b) (c) (d)		106,522		0
RCR Tomlinson, Ltd. (a) (b) (c) (d)		113,813		52,730
Reckon, Ltd.		36,898		17,331
Regis Healthcare, Ltd.		44,832		109,560
Regis Resources, Ltd.		180,703		677,043
Reject Shop, Ltd. (The)		12,421		23,330
Resolute Mining, Ltd.		277,334		236,464
Rhipe, Ltd.		12,338		15,923
Ridley Corp., Ltd.		123,003		120,588
RPMGlobal Holdings, Ltd. (a)		4,190		1,713
Ruralco Holdings, Ltd.		9,291		28,835
Salmat, Ltd.		45,807		17,889
Sandfire Resources NL		45,376		223,695
Saracen Mineral Holdings, Ltd. (a)		349,701		714,367
SeaLink Travel Group, Ltd.		11,458		32,736
Select Harvests, Ltd.		35,131		152,069
Senex Energy, Ltd. (a)		400,753		105,646
Servcorp, Ltd.		21,215		40,075
Service Stream, Ltd.		79,474		119,366
Seven Group Holdings, Ltd.		7,838		98,224
Seven West Media, Ltd. (a)		408,410		142,819
SG Fleet Group, Ltd.		24,267		37,828
Sheffield Resources, Ltd. (a)		47,049		20,733
Sigma Healthcare, Ltd.		560,969		209,164
Silver Chef, Ltd.		8,928		7,051
Silver Lake Resources, Ltd. (a)		112,092		64,975
SmartGroup Corp., Ltd.		22,008		124,028
Southern Cross Media Group, Ltd.		229,061		190,555
Spark Infrastructure Group		387,703		628,180

BHFTII-61

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Australia—(Continued)
SpeedCast International, Ltd.		60,891	$	163,140
SRG Global, Ltd. (c)		9,380		2,034
St. Barbara, Ltd.		201,372		480,452
Steadfast Group, Ltd.		198,774		449,501
Strike Energy, Ltd. (a)		228,018		9,719
Sundance Energy Australia, Ltd. (a)		204,616		60,534
Sunland Group, Ltd.		40,150		45,917
Super Retail Group, Ltd.		65,652		374,812
Superloop, Ltd. (a)		12,038		12,687
Syrah Resources, Ltd. (a)		53,924		41,213
Tassal Group, Ltd.		80,622		278,340
Technology One, Ltd.		85,252		485,771
Thorn Group, Ltd. (a)		62,916		20,565
Tiger Resources, Ltd. (a) (b) (c) (d)		591,241		443
Troy Resources, Ltd. (a)		106,145		7,564
Villa World, Ltd.		37,045		58,425
Village Roadshow, Ltd. (a)		38,999		89,668
Virgin Australia Holdings, Ltd. (a)		442,369		59,655
Virgin Australia International Holding, Ltd. (a) (b) (c) (d)		968,773		1
Virtus Health, Ltd.		37,091		105,088
Vista Group International, Ltd.		24,156		80,313
Vita Group, Ltd.		18,112		19,236
Vocus Group, Ltd. (a)		98,354		258,150
Webjet, Ltd.		33,524		348,088
Western Areas, Ltd.		118,029		189,849
Westgold Resources, Ltd. (a)		37,679		33,699
WorleyParsons, Ltd.		68,301		688,629
WPP AUNZ, Ltd.		131,382		58,835
				42,760,877
Austria—1.3%
A-TEC Industries AG (b) (d)		1		0
Agrana Beteiligungs AG		5,813		116,669
ams AG (a) (e)		12,258		331,451
Andritz AG		13,228		567,949
Austria Technologie & Systemtechnik AG		14,133		242,785
CA Immobilien Anlagen AG		20,949		756,553
DO & Co. AG		2,435		200,228
EVN AG		12,657		184,284
FACC AG		6,291		91,391
Flughafen Wien AG		267		11,559
IMMOFINANZ AG (a)		21,989		545,992
Kapsch TrafficCom AG		1,870		63,203
Lenzing AG		3,209		344,097
Mayr Melnhof Karton AG		3,211		402,792
Oberbank AG		198		20,923
Oesterreichische Post AG		10,088		426,760
Palfinger AG		5,204		146,023
POLYTEC Holding AG (e)		8,428		80,076
Porr AG		2,048		45,827
Rosenbauer International AG		1,615		71,586
S IMMO AG		23,207		474,054
S&T AG (a) (e)		16,527		413,635
Schoeller-Bleckmann Oilfield Equipment AG		3,509		291,474
Semperit AG Holding (a) (e)		5,443		79,398
Strabag SE		6,827		218,141
Telekom Austria AG (a)		34,047		247,617
Austria—(Continued)
UBM Development AG		970		39,397
UNIQA Insurance Group AG		36,921		367,941
Vienna Insurance Group AG Wiener Versicherung Gruppe		4,893		125,765
Wienerberger AG		39,101		830,510
Zumtobel Group AG (a)		13,016		87,587
				7,825,667
Belgium—1.7%
Ackermans & van Haaren NV		7,373		1,112,962
AGFA-Gevaert NV (a)		67,517		281,260
Atenor		1,089		78,209
Banque Nationale de Belgique		88		238,902
Barco NV		4,866		746,096
Bekaert S.A.		11,685		274,813
Biocartis NV (a)		10,340		132,325
bpost S.A. (e)		18,928		204,201
Cie d’Entreprises CFE		3,200		297,660
Cie Immobiliere de Belgique S.A.		1,276		80,753
D’ieteren S.A.		8,787		348,039
Deceuninck NV		27,313		64,498
Econocom Group S.A. (e)		39,556		161,437
Elia System Operator S.A.		10,586		742,239
Euronav NV		30,049		244,983
EVS Broadcast Equipment S.A.		4,761		107,687
Exmar NV (a)		10,339		65,308
Fagron		12,062		216,666
Galapagos NV (a)		16,401		1,911,534
GIMV NV		2,215		124,282
Ion Beam Applications (a) (e)		6,507		110,035
Jensen-Group NV		738		28,568
Kinepolis Group NV		5,586		315,866
Lotus Bakeries NV		96		255,256
MDxHealth (a) (e)		8,434		14,730
Melexis NV (e)		5,431		329,018
Nyrstar NV (a) (e)		26,926		10,681
Ontex Group NV		16,729		376,615
Orange Belgium S.A.		13,209		284,710
Oxurion NV (a)		12,685		53,215
Picanol		1,096		83,608
Recticel S.A.		18,423		138,330
Resilux NV		229		37,131
Roularta Media Group NV		1,629		25,807
Sioen Industries NV		3,002		86,567
Sipef S.A.		3,358		187,990
Telenet Group Holding NV		3,472		167,079
TER Beke S.A.		141		21,435
Tessenderlo Group S.A. (a)		13,457		455,031
Van de Velde NV		1,970		69,288
Viohalco S.A. (a)		45,397		168,973
				10,653,787
Canada — 8.4%
5N Plus, Inc. (a)		33,732		91,376
Absolute Software Corp.		18,754		127,707
Acadian Timber Corp.		3,800		46,265
Advantage Oil & Gas, Ltd. (a) (e)		91,030		149,860

BHFTII-62

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Canada —(Continued)
Aecon Group, Inc.		30,622	$	399,632
AG Growth International, Inc.		5,820		271,151
AGF Management, Ltd. - Class B		32,280		130,680
AGT Food & Ingredients, Inc.		7,901		105,832
Aimia, Inc. (a)		48,671		142,770
AirBoss of America Corp.		3,761		22,909
AKITA Drilling, Ltd. - Class A		3,414		8,303
Alamos Gold, Inc. - Class A		124,119		629,720
Alaris Royalty Corp. (e)		16,654		262,705
Alcanna, Inc. (e)		12,660		53,241
Alexco Resource Corp. (a)		22,734		27,389
Algoma Central Corp.		4,410		41,283
Alio Gold, Inc. (a)		5,966		4,330
Altius Minerals Corp. (e)		12,660		121,262
Altus Group, Ltd.		12,388		241,670
Americas Silver Corp. (a)		4,400		7,244
Amerigo Resources, Ltd. (a)		35,000		28,810
Andrew Peller, Ltd. - Class A		11,417		113,029
ARC Resources, Ltd.		59,457		405,768
Aritzia, Inc. (a)		12,402		164,822
Asanko Gold, Inc. (a)		23,027		14,474
Athabasca Oil Corp. (a)		144,824		92,117
ATS Automation Tooling Systems, Inc. (a)		31,233		459,024
AutoCanada, Inc. (e)		8,428		67,293
B2Gold Corp. (a)		251,245		703,151
Badger Daylighting, Ltd.		12,862		390,956
Baytex Energy Corp. (a) (e)		166,118		282,177
Bellatrix Exploration, Ltd. (a)		12,053		3,878
Birchcliff Energy, Ltd.		80,388		214,151
Bird Construction, Inc.		18,612		109,749
Black Diamond Group, Ltd. (a)		19,812		26,686
BMTC Group, Inc.		5,387		60,548
BNK Petroleum, Inc. (a)		17,500		3,667
Bonavista Energy Corp. (e)		75,351		62,588
Bonterra Energy Corp. (e)		12,499		58,737
Boralex, Inc. - Class A		21,918		310,970
Brookfield Real Estate Services, Inc.		3,500		44,289
BSM Technologies, Inc. (a)		15,600		11,440
Calfrac Well Services, Ltd. (a) (e)		35,593		89,226
Calian Group, Ltd.		2,846		68,107
Canaccord Genuity Group, Inc.		54,653		238,840
Canacol Energy, Ltd. (a)		37,461		127,267
Canadian Western Bank		32,028		668,913
Canfor Corp. (a)		17,141		175,726
Canfor Pulp Products, Inc.		15,297		170,444
CanWel Building Materials Group, Ltd. (e)		19,304		74,827
Capital Power Corp.		41,208		965,174
Capstone Mining Corp. (a)		117,839		56,435
Cardinal Energy, Ltd. (e)		32,459		65,581
Cascades, Inc.		35,836		223,648
Celestica, Inc. (a)		38,585		325,981
Celestica, Inc. (U.S. Listed Shares) (a)		223		1,884
Centerra Gold, Inc. (a)		62,285		326,724
Cervus Equipment Corp.		2,998		29,725
CES Energy Solutions Corp.		90,181		184,229
Chesswood Group, Ltd.		4,400		36,152
Cineplex, Inc.		19,436		354,003
Canada —(Continued)
Clairvest Group, Inc.		200		7,146
Clearwater Seafoods, Inc.		10,644		39,267
Cogeco Communications, Inc.		5,136		327,988
Cogeco, Inc.		2,309		135,877
Colliers International Group, Inc.		10,661		712,169
Computer Modelling Group, Ltd.		28,920		133,092
Conifex Timber, Inc. (a) (e)		3,500		4,217
Continental Gold, Inc. (a) (e)		46,900		101,426
Copper Mountain Mining Corp. (a)		63,622		45,704
Corby Spirit and Wine, Ltd.		3,957		53,773
Corridor Resources, Inc. (a)		21,385		11,202
Corus Entertainment, Inc. - B Shares		31,990		141,715
Cott Corp.		45,705		666,927
Cott Corp. (U.S. Listed Shares)		2,000		29,220
Crew Energy, Inc. (a)		69,029		57,853
CRH Medical Corp. (a)		27,305		72,127
Delphi Energy Corp. (a)		95,850		21,518
Denison Mines Corp. (a) (e)		247,548		125,965
Descartes Systems Group, Inc. (The) (a)		18,990		690,339
Detour Gold Corp. (a)		47,370		444,509
DHX Media, Ltd. (e)		41,896		65,210
DIRTT Environmental Solutions (a)		14,110		89,748
Dorel Industries, Inc. - Class B		12,134		107,144
DREAM Unlimited Corp. - Class A		11,971		69,693
Dundee Precious Metals, Inc. (a)		45,872		152,066
E-L Financial Corp., Ltd.		277		167,046
Echelon Financial Holdings, Inc. (a)		900		9,361
ECN Capital Corp.		87,631		283,939
EcoSynthetix, Inc. (a)		800		1,269
Eldorado Gold Corp. (a)		43,058		198,801
Element Fleet Management Corp.		73,286		463,402
Endeavour Silver Corp. (a) (e)		49,248		124,193
Enerflex, Ltd.		29,289		418,399
Enerplus Corp.		53,164		445,570
Enghouse Systems, Ltd.		14,178		360,086
Ensign Energy Services, Inc.		51,526		206,281
Entertainment One, Ltd.		87,169		508,787
Epsilon Energy, Ltd. (a) (b) (d)		10,928		48,083
Equitable Group, Inc.		4,209		203,875
Essential Energy Services Trust (a)		53,526		12,016
Evertz Technologies, Ltd.		10,149		130,171
Exchange Income Corp.		2,651		65,643
Exco Technologies, Ltd.		13,332		94,477
EXFO, Inc. (a)		85		312
Extendicare, Inc.		34,956		197,230
Fiera Capital Corp.		16,619		155,825
Firm Capital Mortgage Investment Corp.		9,574		95,285
First Majestic Silver Corp. (a) (e)		42,360		278,628
First Mining Gold Corp. (a)		50,000		12,908
First National Financial Corp. (e)		4,907		112,215
FirstService Corp.		9,026		804,090
Fission Uranium Corp. (a) (e)		114,725		43,783
Fortuna Silver Mines, Inc. (a)		60,121		200,201
Freehold Royalties, Ltd.		35,012		220,340
Gamehost, Inc.		4,952		36,093
GDI Integrated Facility Services, Inc. (a)		1,400		25,049
Gear Energy, Ltd. (a)		34,663		15,823

BHFTII-63

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Canada —(Continued)
Genesis Land Development Corp.		14,348	$	29,096
Genworth MI Canada, Inc.		15,602		472,724
Gibson Energy, Inc.		38,821		667,279
Glacier Media, Inc. (a)		9,600		3,807
Gluskin Sheff & Associates, Inc.		12,233		131,360
GMP Capital, Inc.		28,336		46,437
Goeasy, Ltd.		3,895		118,801
GoldMoney, Inc. (a)		5,500		10,618
Gran Tierra Energy, Inc. (a)		112,213		255,268
Great Canadian Gaming Corp. (a)		20,308		761,806
Great Panther Silver, Ltd. (a) (e)		73,540		68,238
Guardian Capital Group, Ltd. - Class A		1,500		26,995
Guyana Goldfields, Inc. (a)		57,547		46,508
Hanfeng Evergreen, Inc. (a) (b) (c) (d)		12,100		0
Heroux-Devtek, Inc. (a)		14,606		173,565
High Arctic Energy Services, Inc.		3,900		11,061
High Liner Foods, Inc. (e)		8,307		48,797
Home Capital Group, Inc. (a)		23,902		281,705
Horizon North Logistics, Inc.		54,212		73,427
HudBay Minerals, Inc.		103,103		736,808
Hudson’s Bay Co.		35,831		198,145
IAMGOLD Corp. (a)		152,782		529,338
IBI Group, Inc. (a)		5,900		22,428
Imperial Metals Corp. (a) (e)		18,151		39,118
Indigo Books & Music, Inc. (a)		1,986		14,861
Information Services Corp.		2,900		35,264
Innergex Renewable Energy, Inc.		40,708		428,906
InPlay Oil Corp. (a)		7,800		5,895
Interfor Corp. (a)		31,992		375,377
International Petroleum Corp. (a)		25,919		120,833
International Tower Hill Mines, Ltd. (a)		21,604		11,317
Intertain Group, Ltd. (The) (a)		800		7,106
Intertape Polymer Group, Inc.		23,413		317,990
Invesque, Inc.		9,800		69,923
Ivanhoe Mines, Ltd. - Class A (a)		120,230		287,901
Jamieson Wellness, Inc.		11,072		156,011
Just Energy Group, Inc. (e)		50,690		171,831
K-Bro Linen, Inc.		2,719		75,791
Kelt Exploration, Ltd. (a)		58,951		243,065
Kinaxis, Inc. (a)		7,097		414,078
Kinder Morgan Canada, Ltd.		953		11,367
Kingsway Financial Services, Inc. (a)		8,765		27,172
Knight Therapeutics, Inc. (a)		40,310		221,406
KP Tissue, Inc.		1,400		9,376
Labrador Iron Ore Royalty Corp.		21,800		479,279
Largo Resources, Ltd. (a) (e)		83,173		131,947
Lassonde Industries, Inc. - Class A		600		79,237
Laurentian Bank of Canada		13,853		420,353
Leagold Mining Corp. (a)		9,400		13,224
Leon’s Furniture, Ltd.		9,639		103,650
Lightstream Resources, Ltd. (a) (b) (c) (d)		108,373		0
Linamar Corp.		11,444		410,369
Lucara Diamond Corp. (e)		110,136		128,568
Lundin Gold, Inc. (a)		11,400		43,933
Magellan Aerospace Corp.		5,794		77,002
Mainstreet Equity Corp. (a)		2,561		91,030
Major Drilling Group International, Inc. (a)		36,670		123,207
Canada —(Continued)
Manitok Energy, Inc. (a) (b) (c) (d)		122		0
Maple Leaf Foods, Inc.		14,680		339,551
Martinrea International, Inc.		32,289		292,361
Maxim Power Corp. (a)		2,800		4,191
Mediagrif Interactive Technologies, Inc.		4,176		30,156
Medical Facilities Corp.		12,861		169,671
MEG Energy Corp. (a)		66,854		255,139
Melcor Developments, Ltd.		3,120		31,285
Morguard Corp.		1,400		208,216
Morneau Shepell, Inc.		18,485		379,148
Mountain Province Diamonds, Inc.		1,600		1,401
MTY Food Group, Inc.		6,320		278,130
Mullen Group, Ltd.		37,792		338,795
New Gold, Inc. (a)		156,948		133,888
NFI Group, Inc.		13,236		324,375
Norbord, Inc.		8,825		243,152
North American Construction Group, Ltd.		14,743		171,221
North West Co., Inc. (The)		16,971		365,873
Northland Power, Inc.		25,777		455,223
NuVista Energy, Ltd. (a)		59,117		190,222
Obsidian Energy, Ltd. (a)		163,188		44,572
Osisko Gold Royalties, Ltd.		30,681		344,612
Osisko Mining, Inc. (a)		12,300		26,876
Painted Pony Energy, Ltd. (a) (e)		38,738		49,569
Pan American Silver Corp.		68,358		903,358
Paramount Resources, Ltd. - Class A (a)		19,290		102,776
Parex Resources, Inc. (a)		55,359		866,622
Park Lawn Corp.		3,633		74,734
Parkland Fuel Corp.		9,194		280,908
Pason Systems, Inc.		22,516		328,553
Pengrowth Energy Corp. (a) (e)		183,295		76,810
Peyto Exploration & Development Corp.		38,891		203,426
Photon Control, Inc. (a)		20,200		18,441
PHX Energy Services Corp. (a)		12,350		30,035
Pivot Technology Solutions, Inc.		4,800		4,490
Pizza Pizza Royalty Corp.		6,998		52,733
Points International, Ltd. (a)		5,320		71,419
Polaris Infrastructure, Inc.		4,000		33,883
Pollard Banknote, Ltd.		2,090		34,861
Polymet Mining Corp. (a) (e)		38,355		25,831
Precision Drilling Corp. (a)		103,898		246,460
Premier Gold Mines, Ltd. (a)		11,600		13,541
Premium Brands Holdings Corp. (e)		7,825		450,874
Pretium Resources, Inc. (a)		41,667		356,072
Pulse Seismic, Inc. (a)		15,720		28,820
Quarterhill, Inc.		58,061		64,302
Questerre Energy Corp. - Class A (a) (e)		83,569		31,893
Real Matters, Inc. (a)		7,600		30,767
Recipe Unlimited Corp.		4,150		78,817
Reitmans Canada, Ltd. - Class A		20,566		51,709
Richelieu Hardware, Ltd.		18,490		327,779
Rocky Mountain Dealerships, Inc.		3,738		25,175
Rogers Sugar, Inc.		35,106		158,409
Roxgold, Inc. (a)		42,400		29,190
Russel Metals, Inc.		24,422		430,014
Sabina Gold & Silver Corp. (a)		57,206		53,724
Sandstorm Gold, Ltd. (a) (e)		58,462		318,919

BHFTII-64

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Canada —(Continued)
Savaria Corp.		10,600	$	120,726
Secure Energy Services, Inc.		55,376		338,965
SEMAFO, Inc. (a)		123,983		344,204
Seven Generations Energy, Ltd. - Class A (a)		17,835		128,789
ShawCor, Ltd.		20,891		312,814
Sienna Senior Living, Inc.		20,976		297,135
Sierra Wireless, Inc. (a) (e)		16,910		208,789
Sleep Country Canada Holdings, Inc.		12,404		176,080
Solium Capital, Inc. (a)		1,517		21,659
Sprott, Inc.		60,427		137,010
SSR Mining, Inc. (a)		37,551		474,604
Stantec, Inc.		28,513		673,806
Stella-Jones, Inc.		12,994		439,113
STEP Energy Services, Ltd. (a)		6,800		10,431
Storm Resources, Ltd. (a)		11,300		20,125
Stornoway Diamond Corp. (a)		70,074		5,244
Strad Energy Services, Ltd. (a)		10,641		11,227
Street Capital Group, Inc. (a)		5,900		2,296
Stuart Olson, Inc.		11,157		36,234
SunOpta, Inc. (a)		26,392		91,044
Superior Plus Corp.		48,615		416,539
Surge Energy, Inc. (e)		85,275		84,232
Tamarack Valley Energy, Ltd. (a)		69,684		126,712
Taseko Mines, Ltd. (a)		108,786		63,496
TeraGo, Inc. (a)		4,100		32,767
Teranga Gold Corp. (a)		24,518		70,636
Tervita Corp. (a)		3,508		15,803
TFI International, Inc.		26,764		790,493
Tidewater Midstream and Infrastructure, Ltd.		11,900		12,645
Timbercreek Financial Corp.		12,849		90,189
TMX Group, Ltd.		5,311		342,064
TORC Oil & Gas, Ltd.		47,624		164,288
Torex Gold Resources, Inc. (a)		19,894		250,396
Torstar Corp. - Class B		21,453		13,966
Total Energy Services, Inc.		17,786		128,968
TransAlta Corp.		91,004		668,731
TransAlta Renewables, Inc.		28,608		289,858
Transcontinental, Inc. - Class A		26,130		327,126
TransGlobe Energy Corp.		36,372		68,588
Trevali Mining Corp. (a)		90,600		27,119
Trican Well Service, Ltd. (a) (e)		101,707		97,418
Tricon Capital Group, Inc.		46,139		397,396
Trisura Group, Ltd. (a)		1,000		22,487
Uni-Select, Inc.		13,271		137,641
Valener, Inc.		16,303		319,021
Vecima Networks, Inc.		2,500		17,772
VersaBank		2,000		11,030
Wajax Corp.		7,885		98,655
Wesdome Gold Mines, Ltd. (a)		56,007		176,862
Western Energy Services Corp. (a)		27,573		6,603
Western Forest Products, Inc.		145,247		199,988
WestJet Airlines, Ltd.		861		12,519
Westshore Terminals Investment Corp.		18,288		273,974
Whitecap Resources, Inc.		95,350		328,928
Winpak, Ltd.		8,852		285,694
Yamana Gold, Inc.		266,798		694,771
Yangarra Resources, Ltd. (a)		24,087		52,631
Canada —(Continued)
Yellow Pages, Ltd. (a) (e)		6,975		32,622
ZCL Composites, Inc.		9,681		72,299
Zenith Capital Corp. (b) (c) (d)		12,830		778
				52,359,185
China—0.3%
APT Satellite Holdings, Ltd.		164,250		73,640
Asia Satellite Telecommunications Holdings, Ltd.		58,500		48,438
BeijingWest Industries International, Ltd. (a)		41,200		4,309
BOE Varitronix, Ltd.		137,000		44,315
Bund Center Investment, Ltd.		138,000		61,158
CGN Mining Co., Ltd.		145,000		6,746
China Chuanglian Education Financial Group, Ltd. (a)		336,000		2,480
China Display Optoelectronics Technology Holdings, Ltd.		136,000		16,804
China Everbright Greentech, Ltd.		53,000		42,115
China Gold International Resources Corp., Ltd. (a)		79,013		98,149
China Ludao Technology Co., Ltd. (a)		56,000		8,461
China New Higher Education Group, Ltd.		99,000		48,503
China Sunsine Chemical Holdings, Ltd.		35,000		29,263
Chong Hing Bank, Ltd.		41,000		75,834
CITIC Telecom International Holdings, Ltd.		467,000		210,155
FIH Mobile, Ltd. (e)		799,000		88,547
First Sponsor Group, Ltd.		9,490		9,173
Fountain SET Holdings, Ltd.		422,000		74,721
Goodbaby International Holdings, Ltd.		193,000		56,081
Guangnan Holdings, Ltd.		264,000		33,966
Guotai Junan International Holdings, Ltd.		617,600		125,160
Mega Expo Holdings, Ltd.		305,000		171,756
Microport Scientific Corp.		79,000		74,337
Nanfang Communication Holdings, Ltd.		64,000		38,820
Neo-Neon Holdings, Ltd. (a)		322,500		26,692
Shenwan Hongyuan HK, Ltd.		172,500		46,798
Sino Grandness Food Industry Group, Ltd. (a)		199,272		8,838
SITC International Holdings Co., Ltd.		285,000		292,599
				1,817,858
Colombia—0.0%
Frontera Energy Corp.		3,075		26,071
Denmark—2.0%
ALK-Abello A/S (a)		1,831		303,026
Alm Brand A/S		28,684		247,481
Ambu A/S - Class B		36,117		956,362
Bang & Olufsen A/S (a)		10,209		91,968
Bavarian Nordic A/S (a)		10,666		222,457
Brodrene Hartmann A/S		663		28,900
Columbus A/S		20,865		38,208
D/S Norden A/S (e)		6,460		87,867
DFDS A/S		11,185		463,134
FLSmidth & Co. A/S		15,133		654,555
H+H International A/S - Class B (a)		4,578		67,674
Harboes Bryggeri A/S - Class B		1,454		17,392
IC Group A/S		3,209		19,032
ISS A/S		30,491		928,110
Jeudan A/S		410		59,165
Jyske Bank A/S		17,351		670,758

BHFTII-65

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Denmark—(Continued)
Matas A/S		7,249	$	71,684
Nilfisk Holding A/S (a)		9,691		383,038
NKT A/S (a)		6,820		120,920
NNIT A/S		2,656		68,523
Parken Sport & Entertainment A/S		2,351		36,217
PER Aarsleff Holding A/S		8,472		280,699
Ringkjoebing Landbobank A/S		9,911		609,170
Rockwool International A/S - B Shares		2,076		486,598
Royal Unibrew A/S		15,546		1,147,203
RTX A/S		3,387		80,434
Scandinavian Tobacco Group A/S		8,056		100,483
Schouw & Co. A/S		5,566		414,034
SimCorp A/S		12,900		1,246,295
Solar A/S - B Shares (e)		2,435		103,922
Spar Nord Bank A/S		32,428		284,186
Sydbank A/S		26,018		539,744
Tivoli A/S		236		24,043
TK Development A/S (a)		37,491		22,420
Topdanmark A/S		22,026		1,100,433
Tryg A/S		732		20,091
United International Enterprises		850		167,956
Veloxis Pharmaceuticals A/S (a) (e)		115,226		39,975
Vestjysk Bank A/S (a)		59,275		23,515
Zealand Pharma A/S (a)		7,520		134,298
				12,361,970
Faeroe Islands—0.0%
BankNordik P/F		628		10,380
Finland—2.4%
Aktia Bank Oyj		9,111		95,758
Alma Media Oyj		22,695		154,218
Apetit Oyj		1,205		11,681
Asiakastieto Group Oyj (a)		3,277		93,717
Aspo Oyj		8,414		82,870
Atria Oyj		4,065		37,501
BasWare Oyj (a)		3,525		87,437
Bittium Oyj		8,034		59,614
Cargotec Oyj - B Shares		12,591		464,575
Caverion Oyj		36,589		229,121
Citycon Oyj (a)		29,399		300,951
Cramo Oyj		9,503		186,986
Digia Oyj		3,254		9,271
F-Secure Oyj (a)		35,820		98,290
Ferratum Oyj		2,093		27,944
Finnair Oyj		24,728		222,533
Fiskars Oyj Abp		17,515		366,727
HKScan Oyj - A Shares		6,704		13,299
Huhtamaki Oyj		34,101		1,269,675
Ilkka-Yhtyma Oyj		2,976		12,970
Kemira Oyj		41,153		509,028
Kesko Oyj - A Shares		1,323		73,167
Kesko Oyj - B Shares		20,281		1,234,617
Konecranes Oyj		16,662		593,096
Lassila & Tikanoja Oyj		12,398		198,909
Metsa Board Oyj		86,501		530,948
Finland—(Continued)
Metso Oyj		28,987		998,491
Nokian Renkaat Oyj		38,871		1,302,300
Olvi Oyj - A Shares		6,303		227,785
Oriola-KD Oyj - B Shares		53,692		141,382
Orion Oyj - Class A		8,256		308,951
Orion Oyj - Class B		25,440		954,004
Outokumpu Oyj		102,277		373,515
Outotec Oyj (a)		52,402		230,079
Ponsse Oyj		3,208		104,751
QT Group Oyj (a)		2,605		26,302
Raisio Oyj - V Shares		55,399		155,246
Ramirent Oyj		31,090		191,405
Rapala VMC Oyj		8,902		29,666
Raute Oyj - A Shares		72		2,278
Revenio Group Oyj		5,251		90,517
Sanoma Oyj		31,912		312,960
Stockmann Oyj Abp - B Shares (a)		11,956		28,191
Teleste Oyj		2,149		14,227
Tieto Oyj		21,736		663,508
Tikkurila Oyj		12,873		211,234
Tokmanni Group Corp.		12,680		118,242
Uponor Oyj		19,661		224,923
Vaisala Oyj - A Shares		6,772		136,088
Valmet Oyj		34,877		883,103
YIT Oyj		51,511		298,547
				14,992,598
France—4.0%
ABC Arbitrage		7,886		54,127
Actia Group		4,338		18,691
Air France-KLM (a)		51,618		580,921
Akka Technologies S.A.		3,906		266,320
AKWEL		3,301		53,426
Albioma S.A.		13,155		308,473
Altamir Amboise		9,152		154,609
Alten S.A.		8,315		890,788
Altran Technologies S.A. (e)		66,322		730,376
Amplitude Surgical SAS (a)		2,894		9,093
APRIL S.A.		8,341		198,360
Assystem (c)		4,398		160,372
Aubay		2,423		86,040
Axway Software S.A.		2,132		28,921
Baikowski SAS (a)		234		3,809
Bastide le Confort Medical		1,050		40,778
Beneteau S.A.		15,076		176,731
Bigben Interactive		4,507		42,527
Boiron S.A.		2,586		152,012
Bonduelle SCA		6,799		199,499
Bourbon S.A. (a) (c) (e)		1,528		4,010
Burelle S.A.		117		114,739
Casino Guichard Perrachon S.A. (e)		6,523		283,285
Catering International Services		541		6,738
Cegedim S.A. (a)		2,643		77,400
CGG S.A. (a)		80,121		164,734
Chargeurs S.A. (e)		7,605		161,027
Cie des Alpes		3,753		101,282

BHFTII-66

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
France—(Continued)
Cie Plastic Omnium S.A.		12,573	$	336,070
Coface S.A.		31,535		278,940
Derichebourg S.A.		31,305		127,464
Devoteam S.A.		1,818		201,951
Electricite de Strasbourg S.A.		329		38,614
Elior Group S.A. (e)		33,219		444,862
Elis S.A.		28,262		455,671
Eramet		3,022		168,507
Esso S.A. Francaise		1,341		50,650
Etablissements Maurel et Prom (a) (c)		5,328		20,550
Europcar Groupe S.A.		23,749		192,982
Eutelsat Communications S.A.		52,862		926,745
Exel Industries - A Shares		618		45,336
Fleury Michon S.A.		461		21,102
Fnac Darty S.A. (a)		6,777		506,601
Gaztransport Et Technigaz S.A.		5,461		497,400
GEA		165		16,213
GL Events		4,878		106,835
Groupe Crit		1,062		71,625
Groupe Gorge		2,544		37,709
Groupe Open		1,736		30,424
Guerbet		2,188		131,821
Haulotte Group S.A.		5,337		43,780
HERIGE SADCS		235		6,249
HiPay Group S.A. (a)		1,527		12,266
ID Logistics Group (a)		863		136,706
Imerys S.A.		6,375		318,723
Ingenico Group S.A.		17,281		1,236,691
Interparfums S.A.		411		22,380
IPSOS		12,134		303,992
Jacquet Metal Service		7,099		118,759
Kaufman & Broad S.A.		6,560		268,100
Korian S.A.		21,040		852,700
Lagardere SCA		36,064		928,733
Lanson-BCC		15		491
Latecoere SACA (a)		26,469		92,605
Laurent-Perrier		1,367		142,920
Le Belier		299		11,007
Lectra		9,223		222,979
Linedata Services		1,348		42,796
LISI		8,732		268,446
LNA Sante S.A.		1,768		93,024
Maisons du Monde S.A.		12,472		241,172
Maisons France Confort S.A.		1,526		57,781
Manitou BF S.A.		3,893		109,061
Manutan International		589		40,682
Mersen S.A.		8,483		274,289
METabolic EXplorer S.A. (a) (e)		6,035		9,894
Metropole Television S.A.		8,342		154,075
Mr. Bricolage		601		3,970
Neopost S.A.		13,609		325,865
Nexans S.A. (e)		10,974		327,486
Nexity S.A.		12,773		623,467
Nicox (a) (e)		1,834		11,602
NRJ Group		9,690		79,565
Oeneo S.A.		9,842		104,115
Onxeo S.A. (a) (e)		4,566		4,275
France—(Continued)
Onxeo S.A. (a)		8,671		7,958
Parrot S.A. (a)		2,647		9,471
Pierre & Vacances S.A. (a)		2,596		46,247
Plastivaloire		1,576		14,982
PSB Industries S.A.		234		8,561
Rallye S.A. (e)		9,791		115,930
Recylex S.A. (a) (e)		3,335		17,697
Rexel S.A.		97,638		1,102,248
Robertet S.A.		66		40,315
Rothschild & Co.		3,204		102,042
Rubis SCA		23,922		1,306,168
Samse S.A.		107		15,963
Savencia S.A.		2,303		163,905
Seche Environnement S.A.		1,555		50,642
Societe BIC S.A.		8,476		756,104
Societe des Bains de Mer et du Cercle des Etrangers a Monaco (a)		16		846
Societe Marseillaise du Tunnel Prado-Carenage S.A. (a)		293		6,571
Societe pour l’Informatique Industrielle		1,546		37,006
Societe Television Francaise 1		21,284		196,114
Soitec (a)		5,935		487,290
Solocal Group (a) (e)		161,345		94,448
Somfy S.A.		2,325		206,026
Sopra Steria Group		5,161		599,659
SPIE S.A. (e)		34,307		608,587
STEF S.A.		1,145		108,418
Sword Group		2,775		98,291
Synergie S.A.		3,366		105,011
Tarkett S.A.		9,688		208,439
Technicolor S.A. (a)		88,305		101,475
TFF Group		403		17,906
Thermador Groupe (e)		2,351		132,070
Total Gabon		324		48,889
Touax S.A. (a)		1,706		8,575
Trigano S.A.		3,132		244,364
Union Financiere de France BQE S.A.		1,257		28,164
Vallourec S.A. (a) (e)		67,733		159,367
Vetoquinol S.A.		1,341		86,127
Vicat S.A.		5,373		259,033
VIEL & Cie S.A.		4,205		23,608
Vilmorin & Cie S.A.		2,655		140,562
Virbac S.A. (a)		500		82,049
Vranken-Pommery Monopole S.A.		958		24,714
				25,139,648
Georgia—0.0%
Bank of Georgia Group plc		12,266		264,321
Germany—6.5%
7C Solarparken AG		7,180		22,802
Aareal Bank AG		26,928		830,054
Adler Modemaerkte AG		2,828		10,690
ADLER Real Estate AG		13,449		198,242
ADO Properties S.A.		8,814		501,116
ADVA Optical Networking SE (a)		16,388		164,182
AIXTRON SE (a)		21,680		194,997

BHFTII-67

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Germany—(Continued)
All for One Steeb AG		498	$	28,828
Allgeier SE		2,942		81,244
Amadeus Fire AG		1,986		229,032
Atoss Software AG		435		49,051
Aurubis AG		14,317		767,047
Basler AG		489		82,329
Bauer AG		4,696		80,859
BayWa AG		5,731		163,004
BayWa AG		305		10,884
Bechtle AG		8,996		833,076
Bertrandt AG		2,036		144,209
bet-at-home.com AG		1,222		79,512
Bijou Brigitte AG		1,603		79,995
Bilfinger SE		10,033		348,851
Borussia Dortmund GmbH & Co. KGaA (Xetra Exchange)		26,420		242,368
CANCOM SE		13,574		611,924
Carl Zeiss Meditec AG		7,051		588,825
CECONOMY AG (a)		18,151		96,524
CENIT AG		3,413		54,581
CENTROTEC Sustainable AG		1,930		25,758
Cewe Stiftung & Co. KGaA		2,303		199,485
Comdirect Bank AG		13,399		151,825
CompuGroup Medical SE		7,545		443,949
Corestate Capital Holding S.A. (a)		2,276		90,020
CropEnergies AG		9,235		53,937
CTS Eventim AG & Co. KGaA		18,055		855,111
Data Modul AG		138		10,743
DEAG Deutsche Entertainment AG (a)		5,771		26,303
Delticom AG		1,562		11,010
Deutsche Beteiligungs AG		4,050		150,398
Deutsche Euroshop AG		14,792		448,261
Deutsche Pfandbriefbank AG		36,292		444,594
Deutz AG		47,320		396,021
DIC Asset AG		19,505		219,671
Diebold Nixdorf, Inc.		575		38,252
DMG Mori AG		8,384		405,748
Dr. Hoenle AG		2,084		102,346
Draegerwerk AG & Co. KGaA		1,062		45,480
Duerr AG		16,259		637,551
Eckert & Ziegler AG		1,547		133,979
Elmos Semiconductor AG		5,394		117,906
ElringKlinger AG		11,206		76,155
Energiekontor AG		2,559		45,508
Evotec AG (a)		28,244		750,643
Fielmann AG		7,053		486,448
First Sensor AG		2,791		64,249
FORTEC Elektronik AG		253		5,843
Francotyp-Postalia Holding AG		3,300		12,180
Freenet AG		49,368		1,060,253
FUCHS Petrolub SE		843		33,201
GEA Group AG		32,150		842,122
Gerresheimer AG		10,086		758,032
Gesco AG		4,563		116,473
GFT Technologies SE		5,932		50,495
Grand City Properties S.A.		30,685		740,620
GRENKE AG		3,342		324,909
H&R GmbH & Co. KGaA		4,195		34,932
Germany—(Continued)
Hamburger Hafen und Logistik AG		8,624		197,150
Hawesko Holding AG		223		8,743
Heidelberger Druckmaschinen AG (a)		100,140		174,318
Hella GmbH & Co. KGaA		9,701		426,523
HolidayCheck Group AG (a)		7,854		25,013
Hornbach Baumarkt AG		2,209		39,444
Hornbach Holding AG & Co. KGaA		1,234		61,868
Hugo Boss AG		20,336		1,388,289
Indus Holding AG		9,327		449,357
Isra Vision AG		6,246		233,262
IVU Traffic Technologies AG		7,646		63,823
Jenoptik AG		15,954		594,162
K&S AG		59,897		1,098,724
Kloeckner & Co. SE		34,891		256,538
Koenig & Bauer AG		4,373		183,146
Krones AG		5,091		448,482
KSB SE & Co. KGaA		82		27,968
KWS Saat SE		3,725		257,378
LANXESS AG		19,978		1,065,533
Leifheit AG		2,964		76,608
Leoni AG		12,471		243,076
LPKF Laser & Electronics AG (a)		4,316		39,606
Manz AG (a)		1,272		34,235
Medigene AG (a)		2,446		23,357
METRO AG		3,955		65,575
MLP SE		20,985		104,777
Nemetschek SE		6,355		1,083,725
Nexus AG		5,744		152,491
Nordex SE (a)		23,261		380,504
Norma Group SE		10,781		523,297
OHB SE		2,315		93,509
OSRAM Licht AG		23,062		793,404
Paragon GmbH & Co. KGaA		357		14,429
Patrizia Immobilien AG		19,307		429,246
Pfeiffer Vacuum Technology AG		2,734		418,267
PNE Wind AG		24,548		63,104
Progress-Werk Oberkirch AG		822		25,106
ProSiebenSat.1 Media SE		39,293		560,003
PSI Software AG		3,465		65,702
QSC AG		33,186		46,171
R Stahl AG (a)		1,594		38,983
Rheinmetall AG		14,082		1,466,966
Rhoen Klinikum AG		15,358		442,090
RIB Software SE		8,127		133,912
Rocket Internet SE (a)		20,003		507,213
SAF-Holland S.A.		22,056		252,503
Salzgitter AG		12,083		349,176
Schaltbau Holding AG (a)		2,019		56,408
Scout24 AG		22,299		1,153,941
Secunet Security Networks AG		391		42,121
SGL Carbon SE (a)		8,945		79,037
SHW AG		2,013		44,919
Siltronic AG		5,638		497,536
Sixt SE		4,968		518,581
SMA Solar Technology AG		3,992		81,769
SMT Scharf AG (a)		831		12,398
Softing AG		3,104		23,319

BHFTII-68

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Germany—(Continued)
Software AG		18,372	$	621,431
Stabilus S.A.		6,982		336,858
STRATEC SE		1,395		94,288
Stroeer SE & Co. KGaA		8,897		521,149
Suedzucker AG		26,310		335,269
Surteco SE		2,209		61,916
Suss Microtec AG (a)		6,216		70,737
TAG Immobilien AG		40,314		995,198
Takkt AG		11,656		191,545
Technotrans AG		2,427		76,745
Tele Columbus AG (a)		1,323		2,405
TLG Immobilien AG		28,741		865,179
Tom Tailor Holding SE (a)		8,518		22,995
Traffic Systems SE		1,794		25,957
VERBIO Vereinigte BioEnergie AG		6,369		49,482
Vossloh AG		4,712		215,369
Wacker Chemie AG		3,414		293,894
Wacker Neuson SE		10,071		239,588
Washtec AG		4,180		318,771
Wuestenrot & Wuerttembergische AG		2,323		44,605
XING SE		988		342,081
Zeal Network SE		1,934		43,756
				40,610,640
Ghana—0.3%
Tullow Oil plc (a)		488,272		1,529,126
Greenland—0.0%
Gronlandsbanken A/S		140		11,109
Guernsey, Channel Islands—0.0%
Raven Russia, Ltd. (a)		112,864		61,019
Hong Kong—2.9%
Aeon Credit Service Asia Co., Ltd.		44,000		44,336
Agritrade Resources, Ltd. (e)		630,000		104,331
Alco Holdings, Ltd.		136,000		13,679
Allied Group, Ltd.		22,000		133,542
Allied Properties HK, Ltd.		944,024		223,727
APAC Resources, Ltd.		47,217		7,094
Applied Development Holdings, Ltd. (a)		390,000		18,879
Arts Optical International Holdings, Ltd.		16,000		3,811
Asia Financial Holdings, Ltd.		254,000		147,224
Asia Standard International Group, Ltd.		296,000		61,080
Associated International Hotels, Ltd.		14,000		40,663
Auto Italia Holdings (a)		175,000		1,648
Ban Loong Holdings, Ltd. (a)		438,000		17,297
Bel Global Resources Holdings, Ltd. (b) (c) (d)		520,000		0
Best Food Holding Co., Ltd.		112,000		18,405
Bison Finance Group, Ltd. (a)		74,000		11,029
BOCOM International Holdings Co., Ltd.		63,000		12,278
Bonjour Holdings, Ltd. (a)		615,000		16,139
Bossini International Holdings, Ltd.		302,000		10,405
Bright Smart Securities & Commodities Group, Ltd.		176,000		43,939
Brightoil Petroleum Holdings, Ltd. (a) (b) (c) (d)		591,000		112,931
Brockman Mining, Ltd. (a)		2,516,770		56,371
Hong Kong—(Continued)
Build King Holdings, Ltd.		160,000		30,402
Burwill Holdings, Ltd. (a)		1,566,000		31,746
Cafe de Coral Holdings, Ltd.		116,000		295,236
Camsing International Holding, Ltd.		124,000		125,744
Cash Financial Services Group, Ltd. (a)		288,000		2,609
Century City International Holdings, Ltd.		616,000		54,146
Chen Hsong Holdings		150,000		54,267
Cheuk Nang Holdings, Ltd.		95,574		53,327
Chevalier International Holdings, Ltd.		75,139		113,530
China Baoli Technologies Holdings, Ltd. (a)		285,000		7,733
China Energy Development Holdings, Ltd. (a)		3,670,000		64,074
China Flavors & Fragrances Co., Ltd.		71,446		21,753
China Goldjoy Group, Ltd.		1,368,000		54,891
China Medical & HealthCare Group, Ltd. (a)		400,000		9,098
China Motor Bus Co., Ltd.		1,200		16,219
China Solar Energy Holdings, Ltd. (a) (b) (c) (d)		162,000		696
China Star Entertainment, Ltd.		378,000		27,930
China Strategic Holdings, Ltd. (a)		4,927,500		48,332
China Ting Group Holdings, Ltd. (a)		318,550		12,580
China Tonghai International Financial, Ltd. (a)		180,000		12,840
Chinese Estates Holdings, Ltd.		95,500		111,068
Chinney Investment, Ltd.		8,000		2,884
Chow Sang Sang Holdings International, Ltd.		119,000		184,931
Chuang’s China Investments, Ltd.		511,500		32,578
Chuang’s Consortium International, Ltd.		382,357		86,773
CK Life Sciences International Holdings, Inc.		1,594,000		90,471
CMIC Ocean En-Tech Holding Co., Ltd. (a)		216,000		12,131
CNT Group, Ltd.		246,000		8,618
Common Splendor International Health Industry Group, Ltd. (a)		518,000		39,599
Continental Holdings, Ltd.		220,000		2,803
Convoy Global Holdings, Ltd. (a) (b) (c) (d)		1,314,000		5,239
Cosmopolitan International Holdings, Ltd. (a)		258,000		48,337
Cowell e Holdings, Inc.		120,000		21,703
CP Lotus Corp. (a)		1,750,000		18,726
Crocodile Garments		216,000		20,912
Cross-Harbour Holdings, Ltd. (The)		127,063		180,964
CSI Properties, Ltd.		2,574,023		131,340
CST Group, Ltd. (a)		8,984,000		30,920
Dah Sing Banking Group, Ltd.		172,671		324,211
Dah Sing Financial Holdings, Ltd.		66,260		347,312
Dan Form Holdings Co., Ltd.		88,000		30,878
Dickson Concepts International, Ltd.		131,000		68,228
Digital Domain Holdings, Ltd. (a)		2,520,000		46,224
Dingyi Group Investment, Ltd. (a)		185,000		10,487
DMX Technologies Group, Ltd. (b) (c) (d)		186,000		0
Dynamic Holdings, Ltd.		20,000		19,093
Eagle Nice International Holdings, Ltd.		120,000		46,472
EcoGreen International Group, Ltd.		118,800		26,103
eForce Holdings, Ltd. (a)		128,000		2,687
Emperor Capital Group, Ltd.		984,000		50,137
Emperor Entertainment Hotel, Ltd.		235,000		49,147
Emperor International Holdings, Ltd.		529,250		163,824
Emperor Watch & Jewellery, Ltd.		1,520,000		52,244
Enerchina Holdings, Ltd.		1,068,000		111,734
ENM Holdings, Ltd. (a)		556,000		65,191
EPI Holdings, Ltd. (a)		570,000		8,962
Esprit Holdings, Ltd. (a)		833,950		179,525

BHFTII-69

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hong Kong—(Continued)
Fairwood Holdings, Ltd.		26,500	$	93,359
Far East Consortium International, Ltd.		541,832		262,498
Far East Holdings International, Ltd. (a)		150,000		7,739
First Pacific Co., Ltd.		450,000		163,930
Freeman FinTech Corp., Ltd. (a)		180,000		8,723
Future Bright Holdings, Ltd.		156,000		11,725
Future World Financial Holdings, Ltd. (a)		12,575		165
G-Resources Group, Ltd. (a)		10,474,800		101,497
Get Nice Holdings, Ltd.		2,574,000		95,134
Giordano International, Ltd.		482,000		233,936
Global Brands Group Holding, Ltd.		1,260,000		17,174
Glorious Sun Enterprises, Ltd.		393,000		45,557
Gold Peak Industries Holdings, Ltd.		277,714		28,302
Gold-Finance Holdings, Ltd. (a)		214,000		6,488
Golden Resources Development International, Ltd.		370,000		28,751
Good Resources Holdings, Ltd. (a)		420,000		9,630
GR Properties, Ltd. (a)		150,000		24,056
Great Eagle Holdings, Ltd.		43,571		222,239
Great Harvest Maeta Group Holdings, Ltd. (a)		52,500		11,839
Greentech Technology International, Ltd. (a)		360,000		3,082
Guoan International, Ltd. (a)		674,000		10,216
Haitong International Securities Group, Ltd.		513,562		202,594
Hang Lung Group, Ltd.		36,000		115,559
Hanison Construction Holdings, Ltd.		148,009		25,462
Hao Tian Development Group, Ltd. (a)		1,001,000		28,054
Harbour Centre Development, Ltd.		88,000		163,895
HKBN, Ltd.		203,500		324,234
HKR International, Ltd.		366,080		214,690
Hon Kwok Land Investment Co., Ltd.		140,000		72,228
Hong Kong Ferry Holdings Co., Ltd.		39,000		44,086
Hong Kong Finance Investment Holding Group, Ltd. (a) (c)		262,000		30,370
Hong Kong International Construction Investment Management Group Co., Ltd.		98,000		37,461
Hong Kong Television Network, Ltd. (a)		165,000		62,053
Hongkong & Shanghai Hotels (The)		109,500		157,620
Hongkong Chinese, Ltd.		866,000		125,752
Hopewell Holdings, Ltd.		81,500		400,850
Hsin Chong Group Holdings, Ltd. (a) (b) (c) (d)		918,000		40,930
Huarong Investment Stock Corp., Ltd. (a)		175,000		9,863
Hung Hing Printing Group, Ltd.		252,000		42,053
Hutchison Telecommunications Hong Kong Holdings, Ltd.		526,000		223,954
Imagi International Holdings, Ltd. (a)		90,112		23,781
International Housewares Retail Co., Ltd.		134,000		35,358
IPE Group, Ltd.		285,000		35,580
IT, Ltd.		220,000		101,780
ITC Properties Group, Ltd.		172,615		43,789
Jacobson Pharma Corp., Ltd.		90,000		18,254
Johnson Electric Holdings, Ltd.		106,875		248,487
Kader Holdings Co., Ltd.		224,000		26,492
Kam Hing International Holdings, Ltd.		196,000		15,480
Karrie International Holdings, Ltd.		140,000		21,421
Keck Seng Investments		72,000		51,363
Kerry Logistics Network, Ltd.		116,000		209,824
Kin Yat Holdings, Ltd.		46,000		8,613
Kingmaker Footwear Holdings, Ltd.		102,000		21,845
Kingston Financial Group, Ltd.		162,000		36,586
Kowloon Development Co., Ltd.		159,000		198,581
Kwan On Holdings, Ltd. (a) (c)		50,000		3,567
Hong Kong—(Continued)
Lai Sun Development Co., Ltd.		109,413		184,604
Lai Sun Garment International, Ltd.		99,760		147,043
Lam Soon Hong Kong, Ltd.		15,000		29,159
Landing International Development, Ltd. (a)		237,600		67,836
Landsea Green Group Co., Ltd. (a)		268,000		35,151
Langham Hospitality Investments and Langham Hospitality Investments, Ltd.		60,500		24,513
Li & Fung, Ltd.		1,230,000		220,909
Lifestyle International Holdings, Ltd.		181,500		314,670
Lippo China Resources, Ltd.		2,106,000		53,117
Lippo, Ltd.		122,000		45,847
Liu Chong Hing Investment, Ltd.		86,000		152,058
LT Commercial Real Estate, Ltd. (a)		18,000		16,738
Luk Fook Holdings International, Ltd.		135,000		454,840
Luks Group Vietnam Holdings Co., Ltd.		68,000		16,458
Lung Kee Bermuda Holdings		90,000		39,059
Magnificent Hotel Investment, Ltd.		1,310,000		31,186
Man Wah Holdings, Ltd.		382,400		224,497
Mandarin Oriental International, Ltd.		40,000		78,049
Mason Group Holdings, Ltd.		6,925,000		123,499
Matrix Holdings, Ltd.		36,000		11,694
Mei Ah Entertainment Group, Ltd. (a)		400,000		14,019
Meilleure Health International Industry Group, Ltd. (a)		420,000		51,359
Melco International Development, Ltd.		121,000		283,569
Midland Holdings, Ltd.		178,010		37,246
Million Hope Industries Holding, Ltd.		59,203		5,656
Ming Fai International Holdings, Ltd.		145,000		20,373
Miramar Hotel & Investment		32,000		69,267
Mongolian Mining Corp. (a)		661,000		11,961
Nameson Holdings, Ltd.		130,000		11,938
National Electronic Holdings, Ltd.		182,600		27,924
New Century Group Hong Kong, Ltd. (a)		912,000		15,354
New Times Energy Corp., Ltd. (a)		459,450		5,812
Newocean Energy Holdings, Ltd. (a)		398,000		114,581
Noble Century Investment Holdings, Ltd. (a)		384,000		34,906
OP Financial, Ltd.		240,000		64,505
Orange Sky Golden Harvest Entertainment Holdings, Ltd. (a)		375,882		14,863
Oriental Watch Holdings		215,600		64,336
Pacific Andes International Holdings, Ltd. (a) (b) (c) (d)		1,819,984		6,353
Pacific Basin Shipping, Ltd.		1,138,000		245,966
Pacific Textiles Holdings, Ltd.		240,000		215,836
Paliburg Holdings, Ltd.		208,000		83,731
Paradise Entertainment, Ltd.		168,000		24,811
PC Partner Group, Ltd.		54,000		14,771
Perfect Shape Medical, Ltd.		108,000		36,730
Pico Far East Holdings, Ltd.		318,000		129,232
Playmates Holdings, Ltd.		460,000		65,065
Playmates Toys, Ltd. (a)		236,000		20,744
Polytec Asset Holdings, Ltd.		580,900		75,493
Public Financial Holdings, Ltd.		166,000		71,492
PYI Corp., Ltd. (a)		2,140,366		37,357
Quali-Smart Holdings, Ltd. (a)		122,000		9,791
Rare Earth Magnesium Technology Group Holdings, Ltd. (a) (c)		500,000		13,839
Realord Group Holdings, Ltd. (a)		116,000		74,330
Regal Hotels International Holdings, Ltd.		126,000		79,145
Regina Miracle International Holdings, Ltd.		71,000		50,970
Sa Sa International Holdings, Ltd. (e)		271,844		92,870

BHFTII-70

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hong Kong—(Continued)
Samson Holding, Ltd.		146,000	$	9,120
SAS Dragon Holdings, Ltd.		140,000		47,512
SEA Holdings, Ltd.		103,896		139,496
Shun Ho Property Investments, Ltd.		21,615		7,848
Shun Tak Holdings, Ltd.		659,500		262,440
Silver Base Group Holdings, Ltd. (a)		474,000		18,719
Sincere Watch Hong Kong, Ltd. (a)		250,000		2,229
Sing Tao News Corp., Ltd.		276,000		34,808
Singamas Container Holdings, Ltd.		724,000		119,048
SIS International Holdings		16,000		8,071
Sitoy Group Holdings, Ltd.		111,000		24,938
SmarTone Telecommunications Holdings, Ltd.		142,388		154,820
SOCAM Development, Ltd. (a)		41,987		10,430
Solartech International Holdings, Ltd. (a)		660,000		8,335
Solomon Systech International, Ltd. (a)		920,000		29,299
Soundwill Holdings, Ltd.		41,500		63,434
South China Holdings Co., Ltd. (a)		1,240,000		29,065
Stella International Holdings, Ltd.		161,500		244,399
Success Universe Group, Ltd. (a)		240,000		7,804
Summit Ascent Holdings, Ltd. (a)		126,000		16,532
Sun Hing Vision Group Holdings, Ltd.		42,000		15,195
Sun Hung Kai & Co., Ltd.		270,440		135,497
SUNeVision Holdings, Ltd.		57,000		48,735
Synergy Group Holdings International, Ltd. (a)		112,000		11,966
TAI Cheung Holdings, Ltd.		206,000		229,708
Tai United Holdings, Ltd.		200,000		10,573
Talent Property Group, Ltd. (a)		420,000		3,210
Tan Chong International, Ltd.		63,000		19,020
Tao Heung Holdings, Ltd.		204,000		39,273
Television Broadcasts, Ltd.		123,500		239,752
Texwinca Holdings, Ltd.		300,000		112,352
TK Group Holdings, Ltd.		62,000		38,791
Tom Group, Ltd. (a)		214,000		42,002
Tradelink Electronic Commerce, Ltd.		256,000		42,466
Transport International Holdings, Ltd.		99,764		301,194
Trinity, Ltd. (a)		466,000		24,065
Tsui Wah Holdings, Ltd.		136,000		14,032
Union Medical Healthcare, Ltd.		32,000		23,805
United Laboratories International Holdings, Ltd. (The)		241,000		142,679
Universal Technologies Holdings, Ltd. (a)		120,000		3,731
Up Energy Development Group, Ltd. (a) (b) (c) (d)		92,000		284
Upbest Group, Ltd.		16,000		2,038
Value Convergence Holdings, Ltd. (a)		204,000		16,372
Value Partners Group, Ltd.		230,000		178,700
Valuetronics Holdings, Ltd.		89,790		45,174
Vedan International Holdings, Ltd.		296,000		28,658
Victory City International Holdings, Ltd.		839,449		10,590
Vitasoy International Holdings, Ltd.		58,000		280,742
VPower Group International Holdings, Ltd.		78,000		28,814
VSTECS Holdings, Ltd.		307,200		178,840
VTech Holdings, Ltd.		30,800		315,315
Wai Kee Holdings, Ltd.		54,000		38,934
Wan Kei Group Holdings, Ltd. (a)		75,000		8,131
Wang On Group, Ltd.		2,200,000		26,078
We Solutions, Ltd. (a)		348,000		21,954
Win Hanverky Holdings, Ltd.		332,000		46,521
Winfull Group Holdings, Ltd.		528,000		7,129
Hong Kong—(Continued)
Wing On Co. International, Ltd.		46,000		160,721
Wing Tai Properties, Ltd.		232,000		174,365
Wonderful Sky Financial Group Holdings, Ltd. (a)		44,000		6,614
Yat Sing Holdings, Ltd. (a)		410,000		9,244
YGM Trading, Ltd.		46,000		41,312
YT Realty Group, Ltd.		43,002		12,866
YTO Express Holdings, Ltd. (c)		18,000		8,636
Yugang International, Ltd.		1,466,000		32,682
Yunfeng Financial Group, Ltd. (a)		34,000		20,571
				18,481,766
Ireland—0.3%
C&C Group plc		95,793		343,512
Datalex plc		4,783		4,333
FBD Holdings plc		10,350		104,791
Glanbia plc		33,226		650,656
Greencore Group plc		47,335		124,657
Hostelworld Group plc		2,650		6,388
IFG Group plc (a)		44,002		109,528
Independent News & Media plc (a)		35,056		2,850
Irish Continental Group plc		22,664		123,561
Permanent TSB Group Holdings plc (a)		6,751		9,760
San Leon Energy plc (a)		15,061		8,165
Smurfit Kappa Group plc		1,062		29,660
Tarsus Group plc		16,558		66,626
UDG Healthcare plc		25,817		190,411
				1,774,898
Isle of Man—0.0%
Hansard Global plc		2,566		1,319
Strix Group plc		27,212		56,020
				57,339
Israel—1.2%
Adgar Investment and Development, Ltd.		7,358		12,068
ADO Group, Ltd. (a)		4,642		99,719
Afcon Holdings, Ltd.		771		39,019
Africa Israel Properties, Ltd. (a)		4,653		129,208
Africa Israel Residences, Ltd.		880		16,986
Airport City, Ltd. (a)		30,492		442,781
Allot Communications, Ltd. (a)		10,216		79,025
Alony Hetz Properties & Investments, Ltd.		13,483		151,925
Alrov Properties and Lodgings, Ltd.		3,141		108,103
Amot Investments, Ltd.		25,066		139,625
Arad, Ltd.		2,224		29,695
Arko Holdings, Ltd. (a)		99,131		41,925
Ashtrom Group, Ltd.		3,487		21,059
Ashtrom Properties, Ltd.		11,444		55,324
Atreyu Capital Markets, Ltd.		2,021		22,407
AudioCodes, Ltd.		7,905		107,568
Avgol Industries 1953, Ltd. (a)		27,883		29,489
Azorim-Investment Development & Construction Co., Ltd. (a)		23,712		27,469
Bayside Land Corp.		205		97,746
Bet Shemesh Engines Holdings, Ltd.		2,139		53,292
Big Shopping Centers, Ltd.		1,031		69,959
BioLine RX, Ltd. (a)		16,296		7,178

BHFTII-71

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Israel—(Continued)
Blue Square Real Estate, Ltd.		1,674	$	65,956
Brainsway, Ltd. (a)		2,193		13,621
Camtek, Ltd.		5,058		43,896
Cellcom Israel, Ltd. (a)		13,058		47,358
Ceragon Networks, Ltd. (b) (d)		14,799		53,128
Clal Biotechnology Industries, Ltd. (a)		17,579		13,555
Clal Insurance Enterprises Holdings, Ltd. (a)		7,114		94,051
Cohen Development & Industrial Buildings, Ltd.		767		19,813
Compugen, Ltd. (a)		18,461		79,426
Danel Adir Yeoshua, Ltd.		1,227		65,876
Delek Automotive Systems, Ltd.		10,535		40,768
Delta-Galil Industries, Ltd.		4,030		124,045
Dexia Israel Bank, Ltd.		150		28,315
Direct Insurance Financial Investments, Ltd.		5,852		66,250
Dor Alon Energy in Israel, Ltd.		766		11,689
El Al Israel Airlines (a)		77,291		19,739
Electra Consumer Products 1970, Ltd.		3,289		38,203
Electra Real Estate, Ltd. (a)		4,280		12,783
Electra, Ltd.		652		165,978
Elron Electronic Industries, Ltd. (a)		7,585		18,993
Energix-Renewable Energies, Ltd. (a)		36,656		57,825
Enlight Renewable Energy, Ltd. (a)		95,911		59,228
Equital, Ltd. (a)		7,709		220,582
Evogene, Ltd. (a)		5,090		9,080
First International Bank of Israel, Ltd. (a)		6,630		156,506
FMS Enterprises Migun, Ltd.		1,438		39,835
Formula Systems 1985, Ltd.		2,928		137,123
Fox Wizel, Ltd.		2,684		82,343
Gilat Satellite Networks, Ltd.		9,844		81,085
Hadera Paper, Ltd.		1,104		84,023
Hamlet Israel-Canada, Ltd.		1,610		32,491
Harel Insurance Investments & Financial Services, Ltd.		43,597		288,060
Hilan, Ltd.		4,800		130,768
IDI Insurance Co., Ltd.		2,042		97,674
IES Holdings, Ltd.		569		29,530
Industrial Buildings Corp., Ltd. (a)		50,025		81,107
Inrom Construction Industries, Ltd.		15,928		54,815
Israel Canada T.R., Ltd.		23,885		25,602
Israel Land Development Co., Ltd. (The) (a)		3,950		32,403
Isras Investment Co., Ltd.		454		63,545
Issta Lines, Ltd.		550		9,092
Kamada, Ltd. (a)		11,729		67,396
Kerur Holdings, Ltd.		1,544		38,019
Klil Industries, Ltd.		175		13,527
Maabarot Products, Ltd.		3,435		39,442
Magic Software Enterprises, Ltd.		9,462		80,948
Malam - Team, Ltd.		335		35,602
Matrix IT, Ltd.		10,787		136,613
Maytronics, Ltd.		14,096		91,445
Mediterranean Towers, Ltd.		731		1,314
Mega Or Holdings, Ltd.		4,941		61,604
Meitav Dash Investments, Ltd.		5,193		15,376
Melisron, Ltd.		4,351		221,520
Menora Mivtachim Holdings, Ltd.		11,310		138,667
Migdal Insurance & Financial Holding, Ltd.		74,479		70,130
Mivtach Shamir Holdings, Ltd.		1,401		26,361
Naphtha Israel Petroleum Corp., Ltd.		14,775		93,916
Israel—(Continued)
Nawi Brothers, Ltd.		4,888		26,179
Neto ME Holdings, Ltd.		788		71,105
Nova Measuring Instruments, Ltd. (a) (c)		8,789		215,613
NR Spuntech Industries, Ltd.		3,848		10,731
Oil Refineries, Ltd. (a)		418,554		204,992
One Software Technologies, Ltd.		900		37,063
OPC Energy, Ltd.		7,174		44,164
Partner Communications Co., Ltd. (a)		29,635		113,274
Paz Oil Co., Ltd.		1,819		271,675
Perion Network, Ltd. (a)		1,082		2,916
Phoenix Holdings, Ltd. (The)		20,176		104,930
Plasson Industries, Ltd.		1,729		75,849
Priortech, Ltd. (a)		1,133		10,588
Rami Levi Chain Stores Hashikma Marketing, Ltd.		1,803		91,157
Redhill Biopharma, Ltd. (a)		52,754		43,532
Scope Metals Group, Ltd.		1,844		48,858
Shapir Engineering & Industry, Ltd.		27,416		93,922
Shikun & Binui, Ltd. (a)		73,332		175,856
Shufersal, Ltd.		38,063		245,828
Summit Real Estate Holdings, Ltd.		4,127		36,600
Suny Cellular Communication, Ltd. (a)		16,495		9,611
Tadiran Holdings, Ltd.		568		14,188
Union Bank of Israel (a)		7,545		35,702
YH Dimri Construction & Development, Ltd.		663		10,709
				7,704,652
Italy—4.1%
A/S Roma S.p.A. (a)		31,585		17,398
A2A S.p.A.		449,922		821,880
ACEA S.p.A.		23,394		395,725
Aeffe S.p.A. (a)		11,359		37,279
Amplifon S.p.A.		30,504		593,897
Anima Holding S.p.A.		64,551		264,018
Aquafil S.p.A.		3,537		39,729
Arnoldo Mondadori Editore S.p.A. (a)		63,913		111,157
Ascopiave S.p.A.		28,294		111,573
Astaldi S.p.A. (a) (e)		20,559		16,660
Autogrill S.p.A.		41,121		395,718
Avio S.p.A.		4,004		56,415
Azimut Holding S.p.A. (e)		39,680		674,709
B&C Speakers S.p.A.		1,431		19,951
Banca Carige S.p.A. (a) (b) (c) (d)		156,432		263
Banca Farmafactoring S.p.A.		28,984		176,501
Banca Finnat Euramerica S.p.A.		50,851		19,335
Banca Generali S.p.A.		18,858		469,318
Banca IFIS S.p.A.		7,714		127,343
Banca Mediolanum S.p.A.		11,406		80,838
Banca Popolare dell’Emilia Romagna SC (e)		202,667		830,128
Banca Popolare di Sondrio Scarl		173,614		474,982
Banca Profilo S.p.A.		117,883		21,845
Banca Sistema S.p.A.		9,271		15,608
Banco BPM S.p.A. (e)		488,208		1,009,536
Banco di Desio e della Brianza S.p.A.		20,306		45,107
BasicNet S.p.A.		7,658		46,552
BE		29,207		32,305
Biesse S.p.A.		6,021		130,956

BHFTII-72

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Italy—(Continued)
Brembo S.p.A.		45,165	$	514,017
Brunello Cucinelli S.p.A.		9,914		341,006
Buzzi Unicem S.p.A.		27,815		570,299
Cairo Communication S.p.A.		24,474		103,611
Cementir Holding S.p.A.		21,979		155,098
Cerved Group S.p.A. (a)		48,374		481,029
CIR-Compagnie Industriali Riunite S.p.A.		157,057		192,461
Credito Emiliano S.p.A.		35,381		199,422
Credito Valtellinese S.p.A. (a)		2,927,424		235,609
d’Amico International Shipping S.A. (a)		60,320		5,874
Danieli & C Officine Meccaniche S.p.A.		4,846		97,115
Datalogic S.p.A.		8,028		187,387
De’Longhi S.p.A.		18,916		510,694
DeA Capital S.p.A.		32,300		51,384
DiaSorin S.p.A.		6,863		691,915
doBank S.p.A.		3,536		47,425
Emak S.p.A.		16,360		23,792
Enav S.p.A.		45,852		250,022
ERG S.p.A.		21,603		408,963
Esprinet S.p.A.		14,507		52,410
Eurotech S.p.A. (a) (e)		13,076		61,807
Falck Renewables S.p.A.		49,296		178,937
Fiera Milano S.p.A. (a)		10,587		57,832
Fila S.p.A. (e)		4,557		65,225
Fincantieri S.p.A. (a)		93,136		114,552
FNM S.p.A.		55,327		33,146
Geox S.p.A.		34,378		63,730
Gruppo Editoriale L’Espresso S.p.A. (a) (e)		52,528		21,781
Gruppo MutuiOnline S.p.A.		7,677		158,975
Hera S.p.A.		231,619		837,840
IMMSI S.p.A.		100,436		52,973
Industria Macchine Automatiche S.p.A. (e)		5,461		407,882
Infrastrutture Wireless Italiane S.p.A.		15,225		136,190
Intek Group S.p.A. (a)		80,757		30,800
Interpump Group S.p.A.		22,700		740,961
Iren S.p.A.		231,134		589,738
Italgas S.p.A.		134,949		834,296
Italmobiliare S.p.A.		3,185		72,471
IVS Group S.A.		3,181		38,260
Juventus Football Club S.p.A. (a) (e)		147,435		251,509
La Doria S.p.A.		3,877		35,014
Leonardo S.p.A.		39,767		463,687
LU-VE S.p.A.		1,198		15,790
Maire Tecnimont S.p.A.		42,334		161,596
MARR S.p.A.		13,428		305,556
Massimo Zanetti Beverage Group S.p.A.		1,925		12,913
Mediaset S.p.A. (a) (e)		192,042		586,792
Openjobmetis S.p.A. agenzia per il lavoro		1,209		9,657
OVS S.p.A. (a)		23,352		42,876
Piaggio & C S.p.A.		71,430		174,310
Prima Industrie S.p.A.		1,853		41,139
Prysmian S.p.A.		802		15,182
RAI Way S.p.A.		18,059		93,234
Reno de Medici S.p.A.		46,743		34,517
Reply S.p.A.		6,572		423,516
Retelit S.p.A.		36,769		60,767
Rizzoli Corriere Della Sera Mediagroup S.p.A.		39,016		55,921
Italy—(Continued)
Sabaf S.p.A.		3,059		54,971
SAES Getters S.p.A.		1,416		34,948
Safilo Group S.p.A. (a)		12,212		9,786
Saipem S.p.A. (a)		191,240		1,010,955
Salini Impregilo S.p.A. (e)		70,140		163,231
Salvatore Ferragamo S.p.A. (e)		16,352		350,898
Saras S.p.A.		155,019		287,284
Servizi Italia S.p.A.		1,701		7,547
Sesa S.p.A.		2,065		65,859
Societa Cattolica di Assicurazioni SC		61,974		592,172
Societa Iniziative Autostradali e Servizi S.p.A.		25,981		450,322
Sogefi S.p.A. (a) (e)		24,822		42,835
SOL S.p.A.		11,001		139,729
Tamburi Investment Partners S.p.A.		36,575		256,161
Technogym S.p.A.		25,428		313,049
Tinexta S.p.A. (a)		4,224		47,386
Tiscali S.p.A. (a)		802,477		12,965
Tod’s S.p.A. (a) (e)		3,954		183,227
Trevi Finanziaria Industriale S.p.A. (a)		31,414		10,548
TXT e-solutions S.p.A.		980		9,897
Uni Land S.p.A. (b) (c) (d)		4,937		0
Unieuro S.p.A. (a)		902		13,352
Unione di Banche Italiane S.p.A. (e)		325,151		860,604
Unipol Gruppo Finanziario S.p.A.		126,457		629,986
UnipolSai Assicurazioni S.p.A.		127,672		345,014
Zignago Vetro S.p.A.		11,476		128,469
				25,458,826
Japan—22.9%
77 Bank, Ltd. (The)		12,800		179,270
A&A Material Corp.		1,200		11,246
A&D Co., Ltd.		6,000		41,590
A/S One Corp.		2,300		183,025
Abist Co., Ltd.		600		17,340
Achilles Corp.		6,500		112,529
Ad-sol Nissin Corp.		900		13,053
Adastria Co., Ltd. (e)		9,240		205,864
ADEKA Corp.		26,000		381,818
Adtec Plasma Technology Co., Ltd.		600		3,457
Advan Co., Ltd.		6,700		61,802
Advance Create Co., Ltd.		800		13,276
Advanex, Inc.		900		13,085
Advantage Risk Management Co., Ltd.		1,300		10,114
Adventure, Inc.		600		28,970
Aeon Delight Co., Ltd.		3,600		140,086
Aeon Fantasy Co., Ltd.		2,400		62,200
Aeon Hokkaido Corp.		2,600		17,715
Aeria, Inc. (a)		2,200		12,585
Ahresty Corp.		9,200		52,679
Ai Holdings Corp.		12,200		202,104
Aichi Bank, Ltd. (The)		2,600		80,825
Aichi Corp.		10,800		68,412
Aichi Steel Corp.		4,300		133,848
Aichi Tokei Denki Co., Ltd.		1,900		69,796
Aida Engineering, Ltd.		20,700		149,949
Aiful Corp. (a)		77,300		194,656

BHFTII-73

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Aiphone Co., Ltd.		4,600	$	72,568
Airport Facilities Co., Ltd.		7,500		37,562
Aisan Industry Co., Ltd.		10,400		64,143
AIT Corp.		2,200		22,178
Aizawa Securities Co., Ltd.		13,800		83,866
Akatsuki, Inc.		500		28,848
Akebono Brake Industry Co., Ltd. (a) (e)		32,600		36,586
Akita Bank, Ltd. (The)		6,200		125,906
Albis Co., Ltd.		800		16,753
Alconix Corp.		6,400		66,398
Alinco, Inc.		5,800		51,736
Allied Telesis Holdings KK (a)		13,900		11,488
Alpen Co., Ltd.		7,000		108,136
Alpha Corp.		2,200		26,371
Alpha Systems, Inc.		3,140		74,555
Alps Logistics Co., Ltd.		6,000		43,855
Altech Corp.		5,200		86,870
Amano Corp.		19,600		462,869
Amiyaki Tei Co., Ltd.		1,100		34,696
Amuse, Inc.		3,600		76,387
Anabuki Kosan, Inc.		400		10,620
Anest Iwata Corp.		10,400		91,441
Anicom Holdings, Inc.		4,500		121,959
AOI Electronics Co., Ltd.		1,100		24,165
AOI TYO Holdings, Inc.		6,428		45,737
AOKI Holdings, Inc.		15,900		166,808
Aomori Bank, Ltd. (The)		6,900		183,286
Aoyama Trading Co., Ltd.		14,500		330,349
Aoyama Zaisan Networks Co., Ltd.		1,400		19,921
Apaman Co., Ltd.		2,100		14,843
Arakawa Chemical Industries, Ltd.		6,600		81,251
Arata Corp.		4,200		145,022
Araya Industrial Co., Ltd.		2,600		37,067
Arcland Sakamoto Co., Ltd.		10,600		143,777
Arcland Service Holdings Co., Ltd.		2,800		51,362
Arcs Co., Ltd.		13,364		294,168
Arealink Co., Ltd.		3,100		25,115
Argo Graphics, Inc.		5,600		119,832
Arisawa Manufacturing Co., Ltd.		14,300		102,920
Arrk Corp. (a)		22,600		21,725
Artnature, Inc.		5,000		28,701
Asahi Broadcasting Corp.		2,400		16,814
Asahi Co., Ltd.		4,500		62,246
Asahi Diamond Industrial Co., Ltd.		21,200		146,768
Asahi Holdings, Inc.		9,000		162,793
Asahi Kogyosha Co., Ltd.		1,700		45,817
Asahi Net, Inc.		5,000		24,636
Asahi Printing Co., Ltd.		400		3,987
ASAHI YUKIZAI Corp.		5,000		73,843
Asahipen Corp.		400		6,373
Asante, Inc.		800		15,772
Asanuma Corp.		2,400		53,508
Asax Co., Ltd.		5,400		25,389
Ashimori Industry Co., Ltd.		1,600		23,140
ASKA Pharmaceutical Co., Ltd.		7,500		77,774
ASKUL Corp.		1,400		35,013
Asukanet Co., Ltd.		1,300		15,254
Japan—(Continued)
Asunaro Aoki Construction Co., Ltd.		5,800		51,351
Ateam, Inc.		2,900		47,303
Atom Corp. (e)		14,300		127,103
Atrae, Inc. (a)		700		24,582
Atsugi Co., Ltd.		6,100		53,218
Aucfan Co., Ltd. (a)		1,700		16,475
Aucnet, Inc.		700		8,205
Autobacs Seven Co., Ltd.		22,700		377,464
Avant Corp.		1,000		14,167
Avex, Inc.		12,000		160,068
Awa Bank, Ltd. (The)		14,600		372,010
Axell Corp. (a)		3,800		19,038
Axial Retailing, Inc.		5,100		157,132
Azia Co., Ltd.		1,500		18,571
Bando Chemical Industries, Ltd.		15,400		148,198
Bank of Iwate, Ltd. (The)		6,000		177,733
Bank of Kochi, Ltd. (The)		1,600		11,718
Bank of Nagoya, Ltd. (The)		5,400		174,411
Bank of Okinawa, Ltd. (The)		9,160		285,665
Bank of Saga, Ltd. (The)		6,100		105,126
Bank of the Ryukyus, Ltd.		15,800		161,339
Baroque Japan, Ltd.		1,100		8,585
BayCurrent Consulting, Inc.		3,700		116,624
Beenos, Inc. (a)		3,200		34,990
Belc Co., Ltd.		2,800		126,915
Bell System24 Holdings, Inc.		6,900		85,675
Belluna Co., Ltd.		13,800		107,390
Bengo4.com, Inc. (a)		1,200		47,743
Billing System Corp.		500		16,534
Biofermin Pharmaceutical Co., Ltd.		500		10,604
BML, Inc.		7,600		220,777
Bookoff Group Holdings, Ltd.		4,700		35,311
Bourbon Corp.		600		10,179
BP Castrol KK		2,600		32,559
Br Holdings Corp.		7,400		22,470
BrainPad, Inc. (a)		1,100		59,116
Broadleaf Co., Ltd.		24,600		129,680
BRONCO BILLY Co., Ltd.		2,400		57,234
Bull-Dog Sauce Co., Ltd.		600		11,359
Bunka Shutter Co., Ltd.		19,000		137,977
Business Brain Showa-Ota, Inc.		800		13,718
C Uyemura & Co., Ltd.		2,800		164,260
C.I. Takiron Corp.		18,000		97,844
CAC Holdings Corp.		6,200		82,629
Can Do Co., Ltd.		3,500		53,547
Canare Electric Co., Ltd.		800		14,029
Canon Electronics, Inc.		7,400		117,441
Capital Asset Planning, Inc.		800		11,165
Career Design Center Co., Ltd.		1,600		18,598
CareerIndex, Inc. (a)		1,600		13,062
Carlit Holdings Co., Ltd.		7,300		51,513
Cawachi, Ltd.		5,700		91,530
Central Automotive Products, Ltd.		2,300		34,483
Central Glass Co., Ltd.		15,000		330,238
Central Security Patrols Co., Ltd.		1,600		70,389
Central Sports Co., Ltd.		1,600		45,693
Ceres, Inc.		1,100		20,734

BHFTII-74

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Charm Care Corp.		1,600	$	20,979
Chiba Kogyo Bank, Ltd. (The)		16,000		43,360
Chikaranomoto Holdings Co., Ltd.		1,000		7,108
Chilled & Frozen Logistics Holdings Co., Ltd.		2,800		31,369
CHIMNEY Co., Ltd.		1,400		33,343
Chino Corp.		2,700		31,314
Chiyoda Co., Ltd.		5,800		93,474
Chiyoda Integre Co., Ltd.		4,600		85,393
Chofu Seisakusho Co., Ltd.		5,700		118,414
Chori Co., Ltd.		5,000		70,439
Chubu Shiryo Co., Ltd.		7,900		83,469
Chudenko Corp.		8,600		175,724
Chuetsu Pulp & Paper Co., Ltd.		3,500		43,988
Chugai Mining Co., Ltd. (a)		68,200		12,319
Chugai Ro Co., Ltd.		2,900		46,007
Chugoku Bank, Ltd. (The)		2,200		20,677
Chugoku Marine Paints, Ltd.		22,000		197,380
Chukyo Bank, Ltd. (The)		3,900		80,048
Chuo Gyorui Co., Ltd.		200		5,093
Chuo Spring Co., Ltd.		1,400		37,361
Citizen Watch Co., Ltd.		47,700		266,619
CKD Corp.		17,300		156,848
Cleanup Corp.		7,300		39,133
CMIC Holdings Co., Ltd.		3,900		54,214
CMK Corp. (a)		18,200		106,761
Cocokara fine, Inc.		5,700		226,592
COLOPL, Inc.		11,000		68,480
Colowide Co., Ltd. (e)		14,200		294,651
Como Co., Ltd.		400		8,568
Computer Engineering & Consulting, Ltd.		9,600		179,872
Computer Institute of Japan, Ltd.		2,000		15,153
Comture Corp.		2,700		89,116
CONEXIO Corp.		4,600		58,064
COOKPAD, Inc.		6,300		15,859
Core Corp.		2,500		26,295
Corona Corp.		5,600		53,372
Cosel Co., Ltd.		9,900		104,608
Cosmo Energy Holdings Co., Ltd.		3,200		64,260
Cosmos Initia Co., Ltd.		3,500		17,732
Cota Co., Ltd.		2,640		30,849
CRE, Inc.		1,500		13,058
Create Medic Co., Ltd.		1,800		15,527
Create Restaurants Holdings, Inc. (e)		9,500		117,531
Create SD Holdings Co., Ltd.		6,000		141,657
Creek & River Co., Ltd.		1,300		13,847
Cresco, Ltd.		2,000		60,303
CRI Middleware Co., Ltd. (a)		800		30,302
CTI Engineering Co., Ltd.		4,800		65,422
CTS Co., Ltd.		8,900		50,139
Cube System, Inc.		4,700		34,013
Cyber Com Co., Ltd.		1,100		21,409
Cyberstep, Inc. (a)		1,200		15,573
Cybozu, Inc.		6,400		54,751
Dai Nippon Toryo Co., Ltd.		9,400		94,210
Dai-Dan Co., Ltd.		6,000		139,317
Dai-ichi Seiko Co., Ltd.		3,100		29,476
Daibiru Corp.		19,800		188,345
Japan—(Continued)
Daido Kogyo Co., Ltd.		2,000		15,397
Daido Metal Co., Ltd.		11,200		71,894
Daido Steel Co., Ltd.		2,100		83,013
Daidoh, Ltd.		10,800		31,702
Daihatsu Diesel Manufacturing Co., Ltd.		9,000		50,549
Daihen Corp. (e)		7,200		185,639
Daiho Corp.		5,000		146,467
Daiichi Jitsugyo Co., Ltd.		2,800		81,019
Daiichi Kigenso Kagaku-Kogyo Co., Ltd.		5,000		36,780
Daiken Corp.		4,800		93,566
Daiken Medical Co., Ltd.		4,400		22,141
Daiki Aluminium Industry Co., Ltd.		9,000		54,153
Daiki Axis Co., Ltd.		1,300		9,754
Daiko Denshi Tsushin, Ltd.		1,300		7,299
Daikoku Denki Co., Ltd.		2,700		37,631
Daikokutenbussan Co., Ltd.		1,900		65,952
Daikyonishikawa Corp.		7,700		70,819
Dainichi Co., Ltd.		4,100		25,222
Dainichiseika Color & Chemicals Manufacturing Co., Ltd.		5,000		136,723
Daio Paper Corp. (e)		14,000		172,302
Daiseki Co., Ltd.		10,700		261,051
Daiseki Eco. Solution Co., Ltd.		2,400		14,228
Daishi Hokuetsu Financial Group, Inc.		15,100		427,759
Daishinku Corp.		2,600		25,068
Daisue Construction Co., Ltd.		2,300		19,131
Daito Bank, Ltd. (The)		5,200		29,947
Daito Pharmaceutical Co., Ltd.		3,960		98,927
Daitron Co., Ltd.		2,400		36,668
Daiwa Industries, Ltd.		11,000		112,866
Daiwabo Holdings Co., Ltd.		6,100		352,178
Daiyu Lic Holdings Co., Ltd.		1,300		10,928
DCM Holdings Co., Ltd.		37,900		353,411
DD Holdings Co., Ltd.		1,500		24,570
Dear Life Co., Ltd.		4,700		18,003
Denki Kogyo Co., Ltd.		4,200		126,642
Densan System Co., Ltd.		1,700		53,870
Denyo Co., Ltd.		4,800		59,527
Descente, Ltd. (e)		5,100		133,919
Dexerials Corp.		10,900		72,576
Digital Arts, Inc.		2,600		213,037
Digital Information Technologies Corp.		1,300		18,021
Dip Corp. (e)		8,100		140,533
DKK-Toa Corp.		1,500		10,293
DKS Co., Ltd.		3,600		113,443
DMG Mori Co., Ltd.		17,900		222,759
DMW Corp.		700		13,574
Doshisha Co., Ltd.		8,200		128,060
Double Standard, Inc.		700		34,397
Doutor Nichires Holdings Co., Ltd.		11,500		218,577
Dowa Holdings Co., Ltd.		5,100		168,059
DSB Co., Ltd.		5,300		19,750
DTS Corp.		6,600		244,635
Duskin Co., Ltd.		13,700		327,004
DyDo Group Holdings, Inc.		2,700		121,993
Dynic Corp.		3,200		20,837
E-Guardian, Inc.		2,400		48,648
Eagle Industry Co., Ltd.		7,800		85,556

BHFTII-75

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Earth Corp.		300	$	13,959
EAT&Co, Ltd.		1,400		21,176
Ebara Jitsugyo Co., Ltd.		2,500		45,651
Ebase Co., Ltd.		1,400		15,074
Eco’s Co., Ltd.		800		11,227
EDION Corp.		28,900		252,463
EF-ON, Inc.		2,600		18,074
eGuarantee, Inc.		8,200		81,977
Ehime Bank, Ltd. (The)		11,400		117,225
Eidai Co., Ltd.		10,000		37,512
Eighteenth Bank, Ltd. (The) (a)		7,000		173,452
Eiken Chemical Co., Ltd.		9,200		217,322
Eizo Corp.		6,300		250,955
Elan Corp.		3,200		42,825
Elecom Co., Ltd.		5,100		157,407
Elematec Corp.		4,000		61,262
EM Systems Co., Ltd.		3,600		43,412
en-japan, Inc.		1,500		43,980
Endo Lighting Corp.		2,600		17,934
Enigmo, Inc. (a)		2,300		59,598
Enplas Corp.		3,400		87,643
Enshu, Ltd.		2,300		24,288
EPS Holdings, Inc.		7,900		132,159
eRex Co., Ltd.		6,100		57,045
ES-Con Japan, Ltd.		7,900		52,188
Escrow Agent Japan, Inc.		5,100		11,817
ESPEC Corp.		7,100		132,566
Evolable Asia Corp. (a)		1,800		38,226
Excel Co., Ltd.		2,500		52,873
Exedy Corp.		11,600		252,281
Extreme Co., Ltd.		700		14,801
F&M Co., Ltd.		1,600		16,971
F-Tech, Inc.		3,600		29,049
F@N Communications, Inc.		9,600		48,974
Faith, Inc.		2,680		22,129
FALCO HOLDINGS Co., Ltd.		3,100		38,165
FCC Co., Ltd.		12,600		267,805
FDK Corp. (a)		2,500		22,710
Feed One Co., Ltd.		41,380		66,065
Ferrotec Holdings Corp.		10,400		104,446
FFRI, Inc. (a)		1,000		28,816
FIDEA Holdings Co., Ltd.		62,510		74,109
Fields Corp.		6,000		39,253
Financial Products Group Co., Ltd.		20,000		164,208
FINDEX, Inc.		3,900		28,602
First Brothers Co., Ltd.		900		9,329
First Juken Co., Ltd.		3,400		38,978
First-corp, Inc.		1,600		11,834
Fixstars Corp.		2,700		34,039
Forval Corp.		1,900		14,295
Foster Electric Co., Ltd.		8,800		132,835
France Bed Holdings Co., Ltd.		9,300		75,947
Freebit Co., Ltd.		2,100		18,238
Freund Corp.		2,400		18,045
Fronteo, Inc.		3,100		15,426
FTGroup Co., Ltd.		1,500		18,646
Fudo Tetra Corp.		6,030		78,922
Japan—(Continued)
Fuji Co., Ltd.		6,700		115,621
Fuji Corp.		12,100		161,496
Fuji Corp., Ltd.		8,600		63,749
Fuji Kyuko Co., Ltd.		6,500		244,774
Fuji Oil Co., Ltd. (e)		21,100		47,844
Fuji Pharma Co., Ltd.		4,600		72,831
Fuji Seal International, Inc.		4,700		170,198
Fuji Soft, Inc.		3,700		146,998
Fujibo Holdings, Inc.		3,700		88,148
Fujicco Co., Ltd.		7,100		138,215
Fujikura Kasei Co., Ltd.		9,500		51,158
Fujikura Rubber, Ltd.		5,800		22,823
Fujikura, Ltd.		69,700		263,901
Fujimi, Inc.		900		19,716
Fujimori Kogyo Co., Ltd.		4,800		132,402
Fujio Food System Co., Ltd.		600		16,683
Fujisash Co., Ltd.		24,500		19,746
Fujishoji Co., Ltd.		1,300		11,636
Fujita Kanko, Inc.		2,000		49,429
Fujitec Co., Ltd.		19,500		216,605
Fujitsu Frontech, Ltd.		4,500		41,278
Fujitsu General, Ltd.		12,300		174,275
Fujiya Co., Ltd.		1,200		23,645
FuKoKu Co., Ltd.		5,100		38,649
Fukuda Corp.		1,600		60,956
Fukui Bank, Ltd. (The)		9,200		141,156
Fukui Computer Holdings, Inc.		2,700		50,460
Fukushima Bank, Ltd. (The) (a)		11,200		38,366
Fukushima Industries Corp.		4,200		135,238
Fukuyama Transporting Co., Ltd.		7,700		296,955
FULLCAST Holdings Co., Ltd.		5,500		118,118
Fumakilla, Ltd.		2,500		32,551
Funai Electric Co., Ltd. (a) (e)		7,900		53,544
Funai Soken Holdings, Inc.		10,770		260,187
Furukawa Battery Co., Ltd. (The)		5,000		31,573
Furukawa Co., Ltd.		10,500		132,504
Furuno Electric Co., Ltd.		10,500		98,145
Furusato Industries, Ltd.		3,700		53,998
Furuya Metal Co., Ltd.		400		17,940
Furyu Corp.		2,400		21,452
Fuso Chemical Co., Ltd. (e)		4,000		67,557
Fuso Pharmaceutical Industries, Ltd.		2,600		59,539
Futaba Corp.		10,200		155,104
Futaba Industrial Co., Ltd.		19,600		96,890
Future Corp.		8,400		144,400
Fuyo General Lease Co., Ltd.		5,600		278,239
G-7 Holdings, Inc.		1,400		29,581
G-Tekt Corp.		7,700		106,966
Gakken Holdings Co., Ltd.		1,600		74,385
Gakkyusha Co., Ltd.		1,700		19,958
Gakujo Co., Ltd.		1,700		18,940
GCA Corp.		5,800		41,408
Gecoss Corp.		4,600		43,101
Genki Sushi Co., Ltd.		1,600		74,754
Genky DrugStores Co., Ltd.		2,400		51,997
Geo Holdings Corp.		12,300		171,045
Gfoot Co., Ltd.		2,100		12,484

BHFTII-76

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Giken, Ltd.		2,800	$	85,950
GL Sciences, Inc.		1,000		14,095
GLOBERIDE, Inc.		3,500		83,416
Glory, Ltd.		8,900		214,001
GMO Click Holdings, Inc.		1,800		10,497
GMO Cloud K.K.		700		27,002
GMO internet, Inc.		14,900		244,408
Godo Steel, Ltd. (e)		4,100		61,414
Goldcrest Co., Ltd.		7,230		97,714
Golf Digest Online, Inc.		900		5,183
Grace Technology, Inc. (e)		900		16,462
Grandy House Corp.		3,600		14,526
Gree, Inc.		26,400		108,073
Greens Co., Ltd.		1,000		13,202
GS Yuasa Corp.		11,000		216,533
GSI Creos Corp.		2,800		29,395
Gun-Ei Chemical Industry Co., Ltd.		1,800		42,148
Gunosy, Inc. (a)		3,100		67,164
Gunze, Ltd.		6,900		279,788
Gurunavi, Inc.		8,500		53,472
H-One Co., Ltd.		6,000		48,665
H2O Retailing Corp.		7,600		106,199
HABA Laboratories, Inc.		700		44,221
Hagihara Industries, Inc.		4,000		51,828
Hakudo Co., Ltd.		1,500		21,110
Hakuto Co., Ltd.		5,900		62,770
Hakuyosha Co., Ltd.		800		21,146
Hamakyorex Co., Ltd.		5,600		215,214
Hamee Corp.		1,800		13,408
Hanwa Co., Ltd.		12,800		358,345
Happinet Corp.		5,000		64,615
Hard Off Corp. Co., Ltd.		3,700		26,465
Harima Chemicals Group, Inc.		7,100		66,269
Haruyama Holdings, Inc.		5,400		42,127
Hazama Ando Corp.		54,490		366,589
Hearts United Group Co., Ltd.		2,600		30,338
Heiwa Real Estate Co., Ltd.		14,400		277,715
Heiwado Co., Ltd.		11,200		238,636
Helios Techno Holding Co., Ltd.		2,900		17,505
HI-LEX Corp.		7,700		144,754
Hibiya Engineering, Ltd.		7,800		133,455
Hiday Hidaka Corp.		6,396		123,952
Himaraya Co., Ltd.		2,600		22,304
Hinokiya Group Co., Ltd.		1,500		29,286
Hioki EE Corp.		2,300		99,111
Hirakawa Hewtech Corp.		800		10,366
Hiramatsu, Inc.		14,800		45,643
Hirano Tecseed Co., Ltd.		500		7,829
Hirata Corp.		1,700		117,720
Hirose Tusyo, Inc.		300		4,668
Hiroshima Gas Co., Ltd.		3,600		11,235
Hisaka Works, Ltd.		9,600		79,572
Hitachi Maxell, Ltd.		10,600		150,678
Hitachi Zosen Corp.		61,600		189,766
Hito Communications Holdings, Inc.		1,700		24,327
Hochiki Corp.		4,600		46,355
Hodogaya Chemical Co., Ltd.		1,800		52,559
Japan—(Continued)
Hogy Medical Co., Ltd.		7,100		251,076
Hokkaido Electric Power Co., Inc.		40,100		230,564
Hokkaido Gas Co., Ltd.		5,400		70,245
Hokkan Holdings, Ltd.		5,000		86,844
Hokko Chemical Industry Co., Ltd.		8,000		40,554
Hokkoku Bank, Ltd. (The)		10,100		317,623
Hokuetsu Corp.		47,900		280,556
Hokuetsu Industries Co., Ltd.		7,000		73,125
Hokuhoku Financial Group, Inc.		23,700		247,389
Hokuriku Electric Industry Co., Ltd.		2,800		26,815
Hokuriku Electric Power Co. (a)		30,400		239,125
Hokuriku Electrical Construction Co., Ltd.		3,000		24,158
Hokuriku Gas Co., Ltd.		1,000		27,243
Hokuto Corp.		7,100		123,040
Honda Tsushin Kogyo Co., Ltd.		6,100		29,301
Honeys Holdings Co., Ltd.		6,930		69,181
Honma Golf, Ltd.		27,000		28,547
Hoosiers Holdings Co., Ltd.		8,000		46,788
Hosiden Corp.		20,000		168,169
Hosokawa Micron Corp.		2,200		98,714
Hotland Co., Ltd.		900		13,146
House Do Co., Ltd.		600		7,643
Howa Machinery, Ltd.		5,700		49,291
Hyakugo Bank, Ltd. (The)		88,000		280,316
Hyakujushi Bank, Ltd. (The)		9,800		203,002
I K K, Inc.		3,100		21,651
I’rom Group Co., Ltd.		2,700		37,046
I-Net Corp.		3,520		41,950
I.K Co., Ltd.		900		4,686
Ibiden Co., Ltd.		21,000		319,733
IBJ Leasing Co., Ltd.		7,200		170,384
IBJ, Inc.		3,500		28,321
Ichibanya Co., Ltd.		2,100		91,862
Ichigo, Inc.		56,600		194,780
Ichiken Co., Ltd.		2,400		40,842
Ichikoh Industries, Ltd.		9,000		48,678
ICHINEN HOLDINGS Co., Ltd.		7,400		77,080
Ichiyoshi Securities Co., Ltd.		12,600		88,538
Icom, Inc.		3,800		75,877
Idec Corp.		7,500		129,960
IDOM, Inc. (e)		20,400		59,432
Ihara Science Corp.		900		9,786
Iino Kaiun Kaisha, Ltd.		32,200		108,789
IJT Technology Holdings Co., Ltd.		9,000		47,308
Ikegami Tsushinki Co., Ltd.		2,600		26,765
Imagica Group, Inc.		4,500		27,233
Imasen Electric Industrial		7,200		65,201
Imuraya Group Co., Ltd.		2,200		48,357
Inaba Denki Sangyo Co., Ltd.		8,100		314,081
Inaba Seisakusho Co., Ltd.		2,100		26,667
Inabata & Co., Ltd.		17,700		241,438
Inageya Co., Ltd.		9,700		111,836
Ines Corp.		9,500		113,274
Infocom Corp.		8,000		133,800
Infomart Corp.		15,400		188,110
Information Development Co.		2,600		32,707
Information Services International-Dentsu, Ltd.		4,300		148,450

BHFTII-77

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Innotech Corp.		8,200	$	71,583
Insource Co., Ltd.		500		11,117
Intage Holdings, Inc.		11,600		90,276
Intelligent Wave, Inc.		3,400		22,881
Inter Action Corp.		1,700		25,875
Internet Initiative Japan, Inc.		9,800		198,654
Inui Global Logistics Co., Ltd.		5,355		43,443
IR Japan Holdings, Ltd.		1,400		23,003
Iriso Electronics Co., Ltd.		5,000		229,732
Ise Chemicals Corp.		1,000		27,907
Iseki & Co., Ltd.		7,400		109,292
Ishihara Sangyo Kaisha, Ltd.		12,200		124,781
Ishii Iron Works Co., Ltd.		900		16,037
Ishizuka Glass Co., Ltd.		500		7,773
Isolite Insulating Products Co., Ltd.		2,900		13,224
Istyle, Inc. (e)		9,800		81,770
ITbook Holdings Co., Ltd. (a)		3,900		14,139
Itfor, Inc.		6,800		58,958
Itochu Enex Co., Ltd.		19,400		156,618
Itochu-Shokuhin Co., Ltd.		2,400		102,675
Itoki Corp.		15,600		76,177
Itokuro, Inc. (a)		800		22,144
IwaiCosmo Holdings, Inc.		7,900		88,446
Iwaki & Co., Ltd.		9,000		32,573
Iwasaki Electric Co., Ltd.		2,500		31,438
Iwatani Corp.		8,700		279,565
Iwatsuka Confectionery Co., Ltd.		500		19,097
Iyo Bank, Ltd. (The)		16,000		84,926
J Trust Co., Ltd. (e)		11,600		39,723
J-Oil Mills, Inc.		4,000		148,987
JAC Recruitment Co., Ltd.		1,600		35,473
Jaccs Co., Ltd.		1,500		24,140
Jafco Co., Ltd.		6,400		229,868
Jalux, Inc.		2,400		54,838
Jamco Corp.		3,400		71,260
Janome Sewing Machine Co., Ltd.		7,099		30,588
Japan Asia Investment Co., Ltd. (a)		4,900		8,442
Japan Asset Marketing Co., Ltd. (a)		29,300		28,933
Japan Aviation Electronics Industry, Ltd.		12,000		167,612
Japan Best Rescue System Co., Ltd.		4,700		64,544
Japan Cash Machine Co., Ltd.		2,100		22,530
Japan Display, Inc. (a) (e)		81,900		51,409
Japan Elevator Service Holdings Co., Ltd.		2,400		48,911
Japan Foundation Engineering Co., Ltd.		10,200		34,853
Japan Investment Adviser Co., Ltd.		800		18,911
Japan Lifeline Co., Ltd. (e)		14,200		236,235
Japan Material Co., Ltd.		11,900		146,394
Japan Meat Co., Ltd.		2,000		35,650
Japan Medical Dynamic Marketing, Inc.		5,200		51,082
Japan Oil Transportation Co., Ltd.		700		18,153
Japan Petroleum Exploration Co., Ltd.		9,300		200,285
Japan Property Management Center Co., Ltd.		2,000		14,354
Japan Pulp & Paper Co., Ltd.		3,700		139,197
Japan Securities Finance Co., Ltd.		7,500		39,637
Japan Steel Works, Ltd. (The)		13,000		240,275
Japan Transcity Corp.		12,000		48,318
Japan Wool Textile Co., Ltd. (The)		19,700		168,315
Japan—(Continued)
Jastec Co., Ltd.		5,100		46,454
JBCC Holdings, Inc.		7,000		95,150
JCU Corp.		6,400		100,448
Jeol, Ltd.		11,000		199,153
JIG-SAW, Inc. (a)		900		23,928
Jimoto Holdings, Inc.		67,900		71,215
JINS, Inc.		4,200		226,967
JK Holdings Co., Ltd.		5,600		28,448
JMS Co., Ltd.		7,500		45,469
Joban Kosan Co., Ltd.		1,700		24,367
Joshin Denki Co., Ltd.		7,000		161,937
JP-Holdings, Inc.		17,900		49,321
JSP Corp.		5,100		112,738
Juki Corp.		11,200		112,000
Juroku Bank, Ltd. (The)		12,200		248,459
Justsystems Corp.		9,700		247,930
JVC Kenwood Corp.		53,300		129,183
K&O Energy Group, Inc.		5,400		74,363
kabu.com Securities Co., Ltd.		47,800		240,358
Kadokawa Dwango (a)		12,508		132,096
Kadoya Sesame Mills, Inc.		500		23,425
Kaga Electronics Co., Ltd.		7,200		132,819
Kakiyasu Honten Co., Ltd.		3,800		74,170
Kamakura Shinsho, Ltd.		2,400		30,988
Kameda Seika Co., Ltd.		4,100		196,685
Kamei Corp.		8,700		92,960
Kanaden Corp.		7,200		76,870
Kanagawa Chuo Kotsu Co., Ltd.		2,400		82,637
Kanamic Network Co., Ltd.		800		14,181
Kanamoto Co., Ltd.		8,800		218,451
Kandenko Co., Ltd.		300		2,570
Kanematsu Corp.		29,800		341,755
Kanematsu Electronics, Ltd.		3,900		118,229
Kanemi Co., Ltd.		100		2,760
Kansai Mirai Financial Group, Inc.		23,031		164,123
Kansai Super Market, Ltd.		1,200		11,189
Kanto Denka Kogyo Co., Ltd.		15,000		101,606
Kappa Create Co., Ltd. (a)		4,400		57,425
Kasai Kogyo Co., Ltd.		8,600		63,677
Katakura & Co-op Agri Corp.		1,600		16,463
Katakura Industries Co., Ltd.		9,500		108,467
Kato Sangyo Co., Ltd.		7,100		235,022
Kato Works Co., Ltd. (e)		3,800		89,795
Kawada Technologies, Inc.		1,500		106,951
Kawai Musical Instruments Manufacturing Co., Ltd.		2,600		67,946
Kawasaki Kinkai Kisen Kaisha, Ltd.		700		20,333
Kawasaki Kisen Kaisha, Ltd. (a) (e)		12,200		131,909
Kawasumi Laboratories, Inc.		4,900		34,863
KeePer Technical Laboratory Co., Ltd.		1,500		17,523
Keihanshin Building Co., Ltd.		14,500		141,851
Keihin Co., Ltd./Minato-Ku Tokyo Japan		2,300		28,602
Keihin Corp.		15,600		256,386
Keiyo Bank, Ltd. (The)		44,500		260,286
Keiyo Co., Ltd.		14,400		64,475
Kenedix, Inc.		46,300		232,098
Kenko Mayonnaise Co., Ltd.		4,100		81,585
KEY Coffee, Inc.		6,700		125,877

BHFTII-78

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
KFC Holdings Japan, Ltd.		4,000	$	71,847
KH Neochem Co., Ltd.		6,200		149,849
Ki-Star Real Estate Co., Ltd.		1,300		19,610
Kimoto Co., Ltd.		14,900		23,061
Kimura Chemical Plants Co., Ltd.		3,300		11,236
King Jim Co., Ltd.		5,800		45,454
Kinki Sharyo Co., Ltd. (The) (a)		1,200		22,049
Kintetsu Department Store Co., Ltd.		1,900		59,918
Kintetsu World Express, Inc.		10,800		165,505
Kirindo Holdings Co., Ltd.		2,500		33,550
Kissei Pharmaceutical Co., Ltd.		8,100		212,289
Kita-Nippon Bank, Ltd. (The)		2,900		51,469
Kitagawa Iron Works Co., Ltd.		3,100		63,133
Kitano Construction Corp.		1,400		39,342
Kitanotatsujin Corp.		7,600		32,085
Kito Corp.		5,900		89,424
Kitz Corp.		31,200		229,239
Kiyo Bank, Ltd. (The)		25,000		349,279
KLab, Inc. (a) (e)		10,600		83,714
KNT-CT Holdings Co., Ltd. (a)		3,300		39,747
Koa Corp.		10,200		137,876
Koatsu Gas Kogyo Co., Ltd.		11,100		85,741
Kobe Electric Railway Co., Ltd. (a)		500		17,825
Kobelco Eco-Solutions Co., Ltd.		1,200		19,494
Kohnan Shoji Co., Ltd.		10,400		258,191
Kohsoku Corp.		4,000		43,974
Koike Sanso Kogyo Co., Ltd.		700		13,351
Kojima Co., Ltd. (a)		12,000		64,441
Kokusai Co., Ltd.		3,400		23,396
Kokuyo Co., Ltd.		16,300		239,390
KOMAIHALTEC, Inc.		1,800		30,202
Komatsu Seiren Co., Ltd.		10,200		74,707
Komatsu Wall Industry Co., Ltd.		2,700		46,021
KOMEDA Holdings Co., Ltd.		11,100		211,232
Komehyo Co., Ltd.		1,300		15,173
Komeri Co., Ltd.		12,300		301,989
Komori Corp.		18,900		214,609
Konaka Co., Ltd.		7,300		28,277
Kondotec, Inc.		7,900		71,836
Konishi Co., Ltd.		9,900		143,926
Konoike Transport Co., Ltd.		3,200		53,070
Kosaido Co., Ltd. (a)		3,700		26,906
Koshidaka Holdings Co., Ltd.		10,000		150,569
Kotobuki Spirits Co., Ltd.		6,000		230,259
Kourakuen Holdings Corp. (e)		2,900		69,411
Kozo Keikaku Engineering, Inc.		700		16,357
Krosaki Harima Corp.		1,900		95,408
KRS Corp.		2,200		40,776
KU Holdings Co., Ltd.		8,000		61,232
Kumagai Gumi Co., Ltd.		9,100		284,687
Kumiai Chemical Industry Co., Ltd.		21,195		150,247
Kura Corp. (e)		3,300		151,508
Kurabo Industries, Ltd.		7,600		139,647
Kureha Corp.		5,200		292,113
Kurimoto, Ltd.		3,500		46,124
Kushikatsu Tanaka Holdings Co.		1,100		26,365
KYB Corp. (a)		7,400		181,998
Japan—(Continued)
Kyodo Printing Co., Ltd.		3,000		66,730
Kyoei Steel, Ltd.		6,100		87,246
Kyokuto Boeki Kaisha, Ltd.		1,800		26,189
Kyokuto Kaihatsu Kogyo Co., Ltd.		11,400		152,955
Kyokuto Securities Co., Ltd.		7,600		70,703
Kyokuyo Co., Ltd.		3,500		89,755
KYORIN Holdings, Inc.		15,500		304,014
Kyoritsu Maintenance Co., Ltd.		4,918		244,617
Kyoritsu Printing Co., Ltd.		6,800		13,710
Kyosan Electric Manufacturing Co., Ltd.		16,000		52,680
Kyowa Electronic Instruments Co., Ltd.		8,000		29,385
Kyowa Leather Cloth Co., Ltd.		3,300		22,163
Kyushu Financial Group, Inc.		4,000		16,296
LAC Co., Ltd.		5,900		81,178
Lacto Japan Co., Ltd.		700		56,815
Land Business Co., Ltd.		1,700		12,382
Lasertec Corp.		10,600		445,532
LEC, Inc. (e)		8,800		113,070
Leopalace21 Corp. (a) (e)		82,400		165,412
Life Corp.		4,400		94,749
LIFULL Co., Ltd. (e)		17,000		89,273
Like Co., Ltd.		2,100		17,362
Linical Co., Ltd.		2,600		32,066
Link And Motivation, Inc. (e)		8,900		64,865
Lintec Corp.		8,400		181,893
Litalico, Inc. (a)		900		14,734
Look Holdings, Inc.		2,200		30,197
M&A Capital Partners Co., Ltd. (a)		1,200		55,032
Macnica Fuji Electronics Holdings, Inc.		14,550		199,467
Macromill, Inc.		8,000		96,704
Maeda Kosen Co., Ltd.		5,700		125,933
Maeda Road Construction Co., Ltd.		14,300		278,621
Maezawa Kasei Industries Co., Ltd.		5,700		53,038
Maezawa Kyuso Industries Co., Ltd.		3,900		67,068
Makino Milling Machine Co., Ltd.		8,000		330,817
Mamezou Holdings Co., Ltd.		4,800		45,246
Mamiya-Op Co., Ltd.		1,900		18,239
Mandom Corp.		6,900		177,625
Mani, Inc.		5,700		279,852
MarkLines Co., Ltd.		1,600		21,012
Mars Engineering Corp.		3,600		71,519
Marubun Corp.		8,200		47,245
Marudai Food Co., Ltd.		7,600		129,558
Marufuji Sheet Piling Co., Ltd.		1,300		26,975
Maruha Nichiro Corp.		5,400		193,668
Maruka Machinery Co., Ltd.		900		17,359
Marumae Co., Ltd.		1,000		6,191
Marusan Securities Co., Ltd. (e)		13,400		79,334
Maruwa Co., Ltd.		3,700		175,499
Maruwa Unyu Kikan Co., Ltd.		1,100		37,725
Maruyama Manufacturing Co., Inc.		1,500		18,636
Maruzen CHI Holdings Co., Ltd.		11,900		39,158
Maruzen Co. Ltd/Taito ward		400		7,510
Maruzen Showa Unyu Co., Ltd.		4,600		124,820
Marvelous, Inc.		9,500		73,805
Matching Service Japan Co., Ltd.		1,200		17,788
Matsuda Sangyo Co., Ltd.		5,900		74,410

BHFTII-79

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Matsui Construction Co., Ltd.		7,800	$	50,221
Matsuya Co., Ltd.		8,800		80,112
Matsuya Foods Co., Ltd. (e)		2,500		83,352
Max Co., Ltd.		11,000		162,273
Maxvalu Nishinihon Co., Ltd.		2,400		37,300
Maxvalu Tokai Co., Ltd.		3,500		72,462
MCJ Co., Ltd.		14,000		102,579
MEC Co., Ltd.		5,800		53,520
Media Do Holdings Co., Ltd.		1,000		26,032
Medical Data Vision Co., Ltd. (a) (e)		3,800		37,036
Medical System Network Co., Ltd.		5,300		25,219
Medius Holdings Co., Ltd. (a)		1,800		11,228
MedPeer, Inc. (a)		1,600		37,080
Megachips Corp. (e)		4,800		74,069
Megmilk Snow Brand Co., Ltd.		8,000		195,189
Meidensha Corp.		11,600		159,640
Meiji Shipping Co., Ltd.		8,500		26,644
Meiko Electronics Co., Ltd. (e)		7,500		118,222
Meiko Network Japan Co., Ltd.		7,200		62,775
Meisei Industrial Co., Ltd.		13,500		91,515
Meitec Corp.		7,700		351,135
Meito Sangyo Co., Ltd.		3,000		41,336
Meiwa Corp.		8,100		32,727
Meiwa Estate Co., Ltd.		5,200		26,861
Members Co., Ltd.		1,800		28,120
Menicon Co., Ltd.		4,100		118,516
Mercuria Investment Co., Ltd.		2,100		12,774
Metaps, Inc. (a)		800		10,756
METAWATER Co., Ltd.		1,300		36,763
Michinoku Bank, Ltd. (The) (e)		5,700		82,850
Micronics Japan Co., Ltd.		5,800		38,609
Mie Kotsu Group Holdings, Inc.		4,000		20,351
Mikuni Corp.		3,000		11,541
Milbon Co., Ltd.		7,320		341,275
MIMAKI ENGINEERING Co., Ltd.		1,900		10,853
Mimasu Semiconductor Industry Co., Ltd.		6,800		90,815
Ministop Co., Ltd.		5,400		83,689
Miraca Holdings, Inc.		14,400		358,974
Miraial Co., Ltd.		2,900		31,251
Mirait Holdings Corp.		24,080		352,148
Miroku Jyoho Service Co., Ltd.		5,900		151,773
Misawa Homes Co., Ltd.		6,700		48,088
Mitani Corp.		6,900		352,274
Mitani Sekisan Co., Ltd.		4,100		112,020
Mito Securities Co., Ltd.		24,000		44,746
Mitsuba Corp.		12,300		69,499
Mitsubishi Logisnext Co., Ltd.		8,000		87,430
Mitsubishi Paper Mills, Ltd. (a)		12,000		60,539
Mitsubishi Pencil Co., Ltd.		5,300		102,823
Mitsubishi Research Institute, Inc.		2,000		60,601
Mitsubishi Shokuhin Co., Ltd.		4,800		125,643
Mitsubishi Steel Manufacturing Co., Ltd.		5,900		82,035
Mitsuboshi Belting, Ltd.		8,500		151,395
Mitsui Engineering & Shipbuilding Co., Ltd. (a)		30,000		284,131
Mitsui High-Tec, Inc. (e)		9,500		86,919
Mitsui Matsushima Co., Ltd.		5,200		57,904
Mitsui Mining & Smelting Co., Ltd.		11,600		299,225
Japan—(Continued)
Mitsui Sugar Co., Ltd.		6,100		150,267
Mitsui-Soko Holdings Co., Ltd.		7,400		122,084
Mitsumura Printing Co., Ltd.		500		10,416
Mitsuuroko Group Holdings Co., Ltd.		12,900		98,745
Mixi, Inc.		5,000		115,994
Miyaji Engineering Group, Inc.		1,800		30,460
Miyazaki Bank, Ltd. (The)		6,000		150,608
Miyoshi Oil & Fat Co., Ltd.		2,800		28,469
Mizuno Corp.		6,600		153,340
Mochida Pharmaceutical Co., Ltd.		5,400		277,577
Modec, Inc.		5,100		145,608
Monex Group, Inc. (e)		65,600		228,231
Money Partners Group Co., Ltd.		7,100		19,628
Monogatari Corp. (The)		1,700		138,583
MORESCO Corp.		2,500		33,189
Morinaga Milk Industry Co., Ltd. (e)		10,400		353,692
Morita Holdings Corp.		11,200		184,956
Morozoff, Ltd.		900		40,119
Mory Industries, Inc.		2,800		59,631
Moshi Moshi Hotline, Inc.		6,600		57,715
Mr. Max Holdings, Ltd.		10,500		42,055
MTI, Ltd.		9,200		52,644
Mugen Estate Co., Ltd.		400		2,177
Murakami Corp.		3,000		66,675
Musashi Seimitsu Industry Co., Ltd.		15,800		215,012
Musashino Bank, Ltd. (The)		11,200		224,083
Mutoh Holdings Co., Ltd.		900		15,367
Mynet, Inc. (a)		1,000		9,106
N Field Co., Ltd.		1,300		8,907
NAC Co., Ltd.		3,600		32,859
Nachi-Fujikoshi Corp.		6,000		242,494
Nafco Co., Ltd.		1,400		20,094
Nagaileben Co., Ltd.		4,600		100,282
Nagano Bank, Ltd. (The)		3,500		53,186
Nagano Keiki Co., Ltd.		4,200		30,549
Nagase & Co., Ltd.		10,300		148,246
Nagatanien Holdings Co., Ltd.		4,000		90,121
Nagawa Co., Ltd.		2,800		153,333
Naigai Trans Line, Ltd.		1,100		13,204
Nakabayashi Co., Ltd.		5,500		26,554
Nakamuraya Co., Ltd.		1,600		61,328
Nakanishi, Inc.		13,600		266,187
Nakano Corp.		4,000		17,406
Nakayama Steel Works, Ltd.		6,300		28,758
Nakayamafuku Co., Ltd.		2,000		9,490
Namura Shipbuilding Co., Ltd.		18,956		61,972
Nanto Bank, Ltd. (The)		9,200		172,669
Narasaki Sangyo Co., Ltd.		800		13,597
Natori Co., Ltd.		2,600		38,757
NEC Capital Solutions, Ltd.		3,800		58,538
NEC Networks & System Integration Corp.		7,800		188,954
NET One Systems Co., Ltd.		14,700		371,559
Neturen Co., Ltd.		9,800		79,079
New Japan Chemical Co., Ltd. (a)		9,900		18,718
Nextage Co., Ltd.		5,900		63,813
Nexyz Group Corp.		2,500		49,708
NF Corp.		1,600		23,862

BHFTII-80

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Nice Holdings, Inc.		3,100	$	25,020
Nichi-iko Pharmaceutical Co., Ltd.		13,200		175,191
Nichia Steel Works, Ltd.		13,000		40,314
Nichias Corp.		16,500		327,947
Nichiban Co., Ltd.		4,000		85,010
Nichicon Corp.		20,100		184,349
Nichiden Corp.		5,200		74,113
Nichiha Corp.		9,000		248,262
NichiiGakkan Co., Ltd. (e)		11,800		139,787
Nichimo Co., Ltd.		1,600		24,094
Nichireki Co., Ltd.		9,000		89,083
Nihon Chouzai Co., Ltd.		1,660		56,291
Nihon Dempa Kogyo Co., Ltd. (a)		7,600		27,339
Nihon Eslead Corp.		2,700		37,172
Nihon Flush Co., Ltd.		3,000		56,360
Nihon House Holdings Co., Ltd.		15,000		64,030
Nihon Kagaku Sangyo Co., Ltd.		3,000		30,226
Nihon Nohyaku Co., Ltd. (e)		14,000		56,594
Nihon Parkerizing Co., Ltd.		22,900		287,236
Nihon Plast Co., Ltd.		2,500		17,906
Nihon Tokushu Toryo Co., Ltd.		2,900		30,313
Nihon Yamamura Glass Co., Ltd.		3,800		49,644
Nikkato Corp.		1,700		13,980
Nikkiso Co., Ltd.		18,600		218,493
Nikko Co., Ltd.		1,800		39,149
Nikkon Holdings Co., Ltd.		16,100		381,562
Nippon Air Conditioning Services Co., Ltd.		9,600		59,189
Nippon Beet Sugar Manufacturing Co., Ltd.		4,500		77,857
Nippon Carbide Industries Co., Inc.		2,300		31,250
Nippon Carbon Co., Ltd. (e)		3,000		134,059
Nippon Chemi-Con Corp.		5,900		101,923
Nippon Chemical Industrial Co., Ltd.		3,000		53,289
Nippon Chemiphar Co., Ltd.		800		21,184
Nippon Coke & Engineering Co., Ltd.		71,000		64,374
Nippon Commercial Development Co., Ltd.		2,500		33,713
Nippon Computer Dynamics Co., Ltd.		1,700		15,213
Nippon Concept Corp.		1,500		13,094
Nippon Concrete Industries Co., Ltd.		14,000		34,418
Nippon Denko Co., Ltd. (e)		43,865		89,195
Nippon Densetsu Kogyo Co., Ltd.		12,500		260,620
Nippon Felt Co., Ltd.		8,600		35,634
Nippon Filcon Co., Ltd.		5,200		24,643
Nippon Fine Chemical Co., Ltd.		4,300		46,807
Nippon Flour Mills Co., Ltd.		22,500		386,486
Nippon Gas Co., Ltd.		8,400		232,712
Nippon Hume Corp.		8,200		56,660
Nippon Kanzai Co., Ltd.		4,800		85,803
Nippon Kinzoku Co., Ltd.		1,900		20,869
Nippon Kodoshi Corp.		1,600		21,801
Nippon Koei Co., Ltd.		5,000		106,009
Nippon Koshuha Steel Co., Ltd.		3,100		14,587
Nippon Light Metal Holdings Co., Ltd.		198,000		435,998
Nippon Paper Industries Co., Ltd.		3,300		68,216
Nippon Parking Development Co., Ltd.		65,100		101,476
Nippon Pillar Packing Co., Ltd.		6,500		75,146
Nippon Piston Ring Co., Ltd.		3,200		45,541
Nippon Rietec Co., Ltd.		5,800		73,861
Japan—(Continued)
Nippon Road Co., Ltd. (The)		2,700		159,240
Nippon Seiki Co., Ltd.		15,000		242,883
Nippon Seisen Co., Ltd.		1,200		35,360
Nippon Sharyo, Ltd. (a) (e)		2,600		60,240
Nippon Sheet Glass Co., Ltd.		33,000		266,865
Nippon Signal Co., Ltd.		18,700		167,926
Nippon Soda Co., Ltd.		9,200		243,318
Nippon Steel & Sumikin Bussan Corp.		5,196		211,466
Nippon Suisan Kaisha, Ltd.		49,500		378,097
Nippon Systemware Co., Ltd.		1,300		26,684
Nippon Thompson Co., Ltd.		23,200		106,990
Nippon Valqua Industries, Ltd.		6,000		120,248
Nippon Yakin Kogyo Co., Ltd. (e)		54,000		123,134
Nishi-Nippon Financial Holdings, Inc.		25,200		214,599
Nishi-Nippon Railroad Co., Ltd.		9,400		227,966
Nishikawa Rubber Co., Ltd.		1,200		19,570
Nishimatsu Construction Co., Ltd.		19,400		430,385
Nishimatsuya Chain Co., Ltd.		10,400		87,479
Nishio Rent All Co., Ltd.		4,400		127,147
Nissan Shatai Co., Ltd.		1,300		11,287
Nissan Tokyo Sales Holdings Co., Ltd.		11,000		29,271
Nissei ASB Machine Co., Ltd. (e)		2,800		96,266
Nissei Corp.		3,700		38,493
Nissei Plastic Industrial Co., Ltd.		6,000		49,118
Nissha Co., Ltd.		7,200		76,513
Nisshin Fudosan Co.		12,300		51,596
Nisshin Oillio Group, Ltd. (The)		10,200		301,732
Nisshinbo Holdings, Inc.		41,320		362,482
Nissin Corp.		6,000		100,545
Nissin Electric Co., Ltd.		14,800		135,970
Nissin Kogyo Co., Ltd.		15,200		191,094
Nissin Sugar Co., Ltd.		600		10,980
Nissui Pharmaceutical Co., Ltd.		5,100		53,680
Nitta Corp.		6,800		221,899
Nitta Gelatin, Inc.		4,500		27,870
Nittan Valve Co., Ltd.		6,300		19,592
Nittetsu Mining Co., Ltd.		2,200		91,069
Nitto Boseki Co., Ltd.		9,800		175,851
Nitto FC Co., Ltd.		4,500		33,111
Nitto Fuji Flour Milling Co., Ltd.		400		22,221
Nitto Kogyo Corp.		9,000		180,226
Nitto Kohki Co., Ltd.		4,100		81,282
Nitto Seiko Co., Ltd.		12,500		67,049
Nittoc Construction Co., Ltd.		11,050		59,628
Nittoku Engineering Co., Ltd. (e)		2,200		55,992
NJS Co., Ltd.		3,300		43,723
Noevir Holdings Co., Ltd.		3,600		175,050
Nohmi Bosai, Ltd.		7,000		114,544
Nojima Corp.		5,600		102,013
Nomura Co., Ltd.		11,000		311,413
Noritake Co., Ltd.		4,200		201,823
Noritsu Koki Co., Ltd.		4,000		89,596
Noritz Corp.		11,400		178,059
North Pacific Bank, Ltd.		122,400		307,019
NS Tool Co., Ltd.		1,900		43,657
NS United Kaiun Kaisha, Ltd.		4,100		87,882
NSD Co., Ltd.		10,670		248,880

BHFTII-81

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
NTN Corp. (e)		34,100	$	101,482
Nuflare Technology, Inc.		800		44,525
OAK Capital Corp.		15,500		21,234
Oat Agrio Co., Ltd.		200		3,085
Obara Group, Inc.		3,500		116,555
Odelic Co., Ltd.		1,000		34,702
Oenon Holdings, Inc.		21,000		77,885
Ogaki Kyoritsu Bank, Ltd. (The)		12,500		260,122
Ohara, Inc.		600		6,911
Ohashi Technica, Inc.		4,600		57,948
Ohsho Food Service Corp.		3,600		228,265
Oiles Corp.		8,000		127,824
Oita Bank, Ltd. (The)		5,700		178,188
Okabe Co., Ltd.		14,000		121,109
Okada Aiyon Corp.		1,900		22,594
Okamoto Industries, Inc.		3,200		161,670
Okamoto Machine Tool Works, Ltd.		1,400		32,504
Okamura Corp.		21,800		229,157
Okasan Securities Group, Inc.		29,000		107,972
Okaya Electric Industries Co., Ltd.		5,800		19,944
Oki Electric Industry Co., Ltd.		22,700		268,638
Okinawa Cellular Telephone Co.		4,400		140,016
Okinawa Electric Power Co., Inc. (The)		16,883		287,380
OKK Corp.		3,100		22,716
OKUMA Corp.		5,400		293,218
Okumura Corp.		11,400		362,710
Okura Industrial Co., Ltd.		3,000		48,339
Okuwa Co., Ltd.		10,000		100,527
Olympic Group Corp.		4,900		30,024
ONO Sokki Co., Ltd.		4,200		23,438
Onoken Co., Ltd.		6,500		91,288
Onward Holdings Co., Ltd.		49,000		259,387
Ootoya Holdings Co., Ltd.		600		12,150
Open Door, Inc. (a)		1,300		39,592
Optex Group Co., Ltd.		9,400		150,474
Organo Corp.		2,800		79,592
Origin Electric Co., Ltd.		3,400		61,257
Oro Co., Ltd.		100		5,755
Osaka Organic Chemical Industry, Ltd.		5,900		58,196
Osaka Soda Co., Ltd.		5,000		122,708
Osaka Steel Co., Ltd.		5,900		100,306
OSAKA Titanium Technologies Co., Ltd. (e)		4,100		62,695
Osaki Electric Co., Ltd.		11,000		68,601
OSG Corp.		13,300		257,676
OSJB Holdings Corp.		24,200		60,615
Otsuka Kagu, Ltd. (a) (e)		5,500		15,094
OUG Holdings, Inc.		700		16,269
Outsourcing, Inc.		23,700		295,171
Oyo Corp.		7,400		74,907
Pacific Industrial Co., Ltd.		16,700		235,332
Pacific Metals Co., Ltd. (e)		6,100		148,984
Pack Corp. (The)		4,600		141,302
Pal Group Holdings Co., Ltd.		3,800		103,388
Paraca, Inc.		300		5,332
Paramount Bed Holdings Co., Ltd.		6,000		267,304
Parco Co., Ltd.		8,100		74,162
Paris Miki Holdings, Inc.		10,600		37,768
Japan—(Continued)
Pasona Group, Inc.		6,200		94,212
PC Depot Corp.		1,900		7,612
PCI Holdings, Inc.		900		19,799
Penta-Ocean Construction Co., Ltd.		57,400		267,093
Pepper Food Service Co., Ltd. (e)		2,700		56,109
Phil Co., Inc. (a)		500		21,961
PIA Corp.		1,400		58,261
Pickles Corp.		800		14,056
Piolax, Inc.		10,500		202,836
Plenus Co., Ltd.		7,800		124,551
Poletowin Pitcrew Holdings, Inc.		7,900		79,351
Press Kogyo Co., Ltd.		37,000		196,616
Pressance Corp.		10,400		129,797
Prestige International, Inc.		13,400		169,067
Prima Meat Packers, Ltd.		9,600		178,765
Pro-Ship, Inc.		1,400		15,648
Pronexus, Inc.		6,700		74,243
Proto Corp.		4,400		79,573
PS Mitsubishi Construction Co., Ltd.		8,800		52,697
Punch Industry Co., Ltd.		2,700		13,953
Qol Co., Ltd.		4,200		57,315
Quick Co., Ltd.		2,500		40,607
Raccoon Co., Ltd.		2,300		14,843
Raito Kogyo Co., Ltd.		16,900		228,012
Rakus Co., Ltd.		2,900		53,026
Rasa Industries, Ltd.		2,600		34,634
Raysum Co., Ltd.		5,300		48,846
RECOMM Co., Ltd.		14,500		21,300
Remixpoint, Inc. (a)		6,300		17,313
Renaissance, Inc.		3,400		60,180
RENOVA, Inc. (a)		4,800		42,603
Renown, Inc. (a)		29,200		27,258
Resort Solution Co., Ltd.		400		14,459
Resorttrust, Inc.		14,500		196,913
Retail Partners Co., Ltd.		1,300		13,710
Rheon Automatic Machinery Co., Ltd.		5,000		71,906
Rhythm Watch Co., Ltd.		2,500		30,216
Riberesute Corp.		4,300		33,353
Ricoh Leasing Co., Ltd.		5,600		169,224
Ride On Express Holdings Co., Ltd.		1,700		18,096
Right On Co., Ltd.		5,900		39,352
Riken Corp.		3,500		159,359
Riken Keiki Co., Ltd.		6,000		115,752
Riken Technos Corp.		15,000		61,489
Riken Vitamin Co., Ltd.		2,700		85,666
Ringer Hut Co., Ltd. (e)		6,000		128,130
Rion Co., Ltd.		2,200		40,603
Riso Kagaku Corp.		9,458		150,157
Riso Kyoiku Co., Ltd.		34,770		160,377
Rock Field Co., Ltd.		6,600		97,650
Rokko Butter Co., Ltd.		3,600		69,738
Roland DG Corp.		3,000		63,252
Rorze Corp.		1,900		28,560
Round One Corp.		22,000		279,639
Royal Holdings Co., Ltd.		8,300		207,922
Rozetta Corp. (a)		700		20,800
RS Technologies Co., Ltd.		1,500		38,374

BHFTII-82

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Ryobi, Ltd.		9,400	$	211,805
Ryoden Corp.		4,500		59,721
Ryosan Co., Ltd.		10,800		290,226
Ryoyo Electro Corp.		7,800		114,401
S Foods, Inc.		4,100		150,481
S&B Foods, Inc.		1,200		45,249
S-Pool, Inc.		700		14,234
Sac’s Bar Holdings, Inc.		6,850		71,090
Sagami Rubber Industries Co., Ltd.		1,000		18,046
Saibu Gas Co., Ltd.		12,200		263,890
Saizeriya Co., Ltd.		9,200		177,374
Sakai Chemical Industry Co., Ltd.		6,000		132,208
Sakai Heavy Industries, Ltd.		1,400		34,550
Sakai Moving Service Co., Ltd.		2,600		164,883
Sakai Ovex Co., Ltd.		1,600		26,182
Sakata INX Corp.		11,800		109,023
Sakura Internet, Inc.		4,400		19,750
Sala Corp.		12,900		71,945
SAMTY Co., Ltd.		2,600		35,360
San Holdings, Inc.		1,400		31,536
San ju San Financial Group, Inc.		7,870		109,744
San-A Co., Ltd.		5,700		228,453
San-Ai Oil Co., Ltd.		20,000		164,405
San-In Godo Bank, Ltd. (The)		59,000		424,322
Sanden Holdings Corp. (a) (e)		8,400		57,673
Sanei Architecture Planning Co., Ltd.		3,500		49,517
Sangetsu Corp.		17,200		312,916
Sanix, Inc. (a)		7,800		16,809
Sanken Electric Co., Ltd.		7,400		137,982
Sanki Engineering Co., Ltd.		17,900		196,032
Sanko Metal Industrial Co., Ltd.		1,000		25,170
Sankyo Frontier Co., Ltd.		1,000		31,701
Sankyo Seiko Co., Ltd.		13,400		57,399
Sankyo Tateyama, Inc.		9,600		129,456
Sanoh Industrial Co., Ltd.		10,100		46,220
Sansei Technologies, Inc.		800		11,131
Sanshin Electronics Co., Ltd. (e)		8,500		145,640
Sanyo Chemical Industries, Ltd.		4,200		194,898
Sanyo Denki Co., Ltd.		1,800		64,989
Sanyo Electric Railway Co., Ltd.		4,800		95,665
Sanyo Housing Nagoya Co., Ltd.		3,000		25,190
Sanyo Industries, Ltd.		1,300		21,960
Sanyo Shokai, Ltd.		5,100		79,657
Sanyo Special Steel Co., Ltd.		8,600		176,821
Sanyo Trading Co., Ltd.		600		10,151
Sapporo Holdings, Ltd.		13,200		289,421
Sata Construction Co., Ltd.		2,600		9,112
Sato Holdings Corp.		6,900		162,108
Sato Restaurant Systems Co., Ltd.		2,700		24,156
Sato Shoji Corp.		6,500		53,158
Satori Electric Co., Ltd.		5,500		46,870
Sawada Holdings Co., Ltd.		10,300		99,441
Saxa Holdings, Inc.		2,400		37,205
SBS Holdings, Inc.		6,900		116,242
Scala, Inc.		5,700		48,223
Scroll Corp.		13,100		44,490
SEC Carbon, Ltd.		200		17,659
Japan—(Continued)
Secom Joshinetsu Co., Ltd.		900		27,373
Seed Co., Ltd.		1,700		17,696
Seika Corp.		4,200		51,524
Seikagaku Corp.		700		7,609
Seikitokyu Kogyo Co., Ltd.		12,500		66,647
Seiko Holdings Corp. (e)		8,800		209,829
Seiren Co., Ltd.		19,100		282,892
Sekisui Jushi Corp.		10,200		180,208
Sekisui Plastics Co., Ltd.		10,300		82,953
Senko Group Holdings Co., Ltd.		31,000		257,656
Senshu Electric Co., Ltd.		2,400		58,857
Senshu Ikeda Holdings, Inc.		84,000		215,728
Senshukai Co., Ltd. (a)		11,000		23,719
SFP Holdings Co., Ltd.		1,500		25,788
Sharingtechnology, Inc. (a)		1,800		24,970
Shibaura Electronics Co., Ltd.		2,800		95,761
Shibaura Mechatronics Corp.		900		27,915
Shibusawa Warehouse Co., Ltd. (The)		4,200		63,905
Shibuya Corp.		4,800		142,571
Shidax Corp.		9,600		27,922
SHIFT, Inc. (a)		1,300		52,390
Shiga Bank, Ltd. (The) (e)		17,800		424,696
Shikibo, Ltd.		4,700		43,304
Shikoku Bank, Ltd. (The)		14,000		131,708
Shikoku Chemicals Corp.		13,000		142,389
Shima Seiki Manufacturing, Ltd.		4,900		150,915
Shimachu Co., Ltd.		19,600		510,793
Shimane Bank, Ltd. (The)		2,500		17,937
Shimizu Bank, Ltd. (The) (e)		3,400		55,957
Shimojima Co., Ltd.		6,300		64,617
Shin Nippon Air Technologies Co., Ltd.		4,600		80,564
Shin Nippon Biomedical Laboratories, Ltd. (a)		2,500		20,395
Shin-Etsu Polymer Co., Ltd.		16,900		125,124
Shin-Keisei Electric Railway Co., Ltd.		2,900		54,531
Shinagawa Refractories Co., Ltd.		2,000		56,905
Shindengen Electric Manufacturing Co., Ltd.		2,800		103,576
Shinkawa, Ltd. (a)		5,300		19,962
Shinko Electric Industries Co., Ltd.		27,600		212,348
Shinko Plantech Co., Ltd.		16,100		171,824
Shinko Shoji Co., Ltd. (e)		7,700		130,864
Shinmaywa Industries, Ltd.		34,000		423,479
Shinnihon Corp.		10,200		90,659
Shinoken Group Co., Ltd.		7,100		48,187
Shinsho Corp.		1,400		32,669
Shinwa Co., Ltd.		3,900		76,975
Ship Healthcare Holdings, Inc.		6,100		250,873
Shizuki Electric Co., Inc.		8,000		44,172
Shizuoka Gas Co., Ltd.		21,300		161,975
Shobunsha Publications, Inc.		4,800		18,529
Shoei Co., Ltd.		3,100		132,796
Shoei Foods Corp.		3,400		97,082
Shofu, Inc.		3,900		45,074
Shoko Co., Ltd. (a)		1,900		10,509
Showa Aircraft Industry Co., Ltd.		4,000		52,280
Showa Corp.		17,600		225,476
Showa Sangyo Co., Ltd.		6,600		178,828
SIGMAXYZ, Inc.		3,300		31,135

BHFTII-83

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Siix Corp. (e)		9,600	$	146,017
Sinanen Holdings Co., Ltd.		2,900		55,170
Sinfonia Technology Co., Ltd.		8,400		102,945
Sinko Industries, Ltd.		6,400		86,692
Sintokogio, Ltd.		16,800		145,061
SK-Electronics Co., Ltd.		400		5,525
SKY Perfect JSAT Holdings, Inc.		29,800		124,013
SMK Corp.		2,300		54,451
SMS Co., Ltd.		16,100		291,911
Snow Peak, Inc.		2,200		30,593
SNT Corp.		15,600		50,785
Soda Nikka Co., Ltd.		7,000		36,628
Sodick Co., Ltd.		16,800		140,692
Soft99 Corp.		5,100		42,851
Softbank Technology Corp.		3,200		69,347
Softbrain Co., Ltd.		3,500		14,915
Softcreate Holdings Corp.		1,600		24,190
Software Service, Inc.		1,200		110,066
Sogo Medical Holdings Co., Ltd.		4,800		73,518
Solasto Corp.		8,400		94,858
SoldOut, Inc.		400		13,953
Soliton Systems KK		600		6,079
Sotoh Co., Ltd.		3,100		27,186
Sourcenext Corp. (e)		11,800		48,380
Space Co., Ltd.		5,060		64,659
Space Value Holdings Co., Ltd.		9,000		41,667
Sparx Group Co., Ltd. (e)		35,900		76,234
SPK Corp.		1,700		36,954
SRA Holdings		3,100		69,239
Srg Takamiya Co., Ltd.		5,200		31,864
St. Marc Holdings Co., Ltd.		5,100		114,795
Star Mica Co., Ltd.		2,400		30,731
Star Micronics Co., Ltd.		4,400		67,269
Starts Corp., Inc.		6,300		134,621
Starzen Co., Ltd.		2,500		85,621
Stella Chemifa Corp.		3,600		99,188
Step Co., Ltd.		4,100		54,630
Strike Co., Ltd.		1,300		26,975
Studio Alice Co., Ltd.		2,900		59,889
Subaru Enterprise Co., Ltd.		100		5,242
Sugimoto & Co., Ltd.		3,800		61,201
Sumida Corp.		6,300		89,174
Suminoe Textile Co., Ltd.		2,300		59,834
Sumitomo Densetsu Co., Ltd.		5,400		91,892
Sumitomo Mitsui Construction Co., Ltd.		52,060		363,033
Sumitomo Osaka Cement Co., Ltd.		9,800		386,468
Sumitomo Precision Products Co., Ltd.		1,200		33,287
Sumitomo Riko Co., Ltd.		15,300		128,464
Sumitomo Seika Chemicals Co., Ltd.		3,200		117,812
Sumitomo Warehouse Co., Ltd. (The)		26,500		334,860
Sun Frontier Fudousan Co., Ltd.		8,600		92,224
Sun-Wa Technos Corp.		3,900		30,425
Suncall Corp.		8,300		46,613
Sushiro Global Holdings, Ltd. (a)		2,900		199,682
SWCC Showa Holdings Co., Ltd.		7,600		48,385
System Information Co., Ltd.		1,400		24,167
System Research Co., Ltd.		600		15,933
Japan—(Continued)
Systena Corp.		20,000		217,829
Syuppin Co., Ltd.		6,100		45,270
T Hasegawa Co., Ltd.		8,400		135,716
T RAD Co., Ltd.		2,900		55,731
T&K Toka Co., Ltd.		8,600		72,299
T-Gaia Corp.		6,500		108,065
Tachi-S Co., Ltd.		10,300		148,056
Tachibana Eletech Co., Ltd.		5,640		84,983
Tadano, Ltd.		22,800		217,529
Taihei Dengyo Kaisha, Ltd.		6,000		127,616
Taiheiyo Kouhatsu, Inc.		2,100		14,474
Taiho Kogyo Co., Ltd.		6,400		52,470
Taikisha, Ltd.		9,100		277,651
Taiko Bank, Ltd. (The)		3,100		45,842
Taisei Lamick Co., Ltd.		2,200		54,941
Taiyo Holdings Co., Ltd.		5,300		174,961
Takachiho Koheki Co., Ltd.		400		3,420
Takagi Seiko Corp.		600		19,820
Takamatsu Construction Group Co., Ltd.		5,400		116,680
Takano Co., Ltd.		4,600		36,061
Takaoka Toko Co., Ltd.		4,365		52,010
Takara Leben Co., Ltd. (e)		28,600		89,107
Takara Printing Co., Ltd.		1,300		19,970
Takara Standard Co., Ltd.		14,400		221,033
Takasago International Corp.		5,400		163,869
Takasago Thermal Engineering Co., Ltd.		16,800		271,324
Takashima & Co., Ltd.		2,500		39,487
Take And Give Needs Co., Ltd.		4,010		51,457
Takeei Corp.		8,200		54,493
Takemoto Yohki Co., Ltd.		1,200		15,870
Takeuchi Manufacturing Co., Ltd.		10,000		176,933
Takihyo Co., Ltd.		2,000		31,761
Takisawa Machine Tool Co., Ltd.		2,200		29,791
Takuma Co., Ltd.		14,200		169,800
Tama Home Co., Ltd.		5,900		57,031
Tamron Co., Ltd.		6,000		109,550
Tamura Corp.		26,000		144,389
Tanseisha Co., Ltd.		11,750		139,414
Tateru, Inc. (e)		3,600		8,728
Tatsuta Electric Wire and Cable Co., Ltd.		17,000		70,135
Tayca Corp.		6,000		139,044
Tazmo Co., Ltd.		900		5,760
TBK Co., Ltd.		8,000		29,572
TDC Soft, Inc.		4,900		38,956
TechMatrix Corp.		2,900		48,591
TECHNO ASSOCIE Co., Ltd.		300		2,833
Techno Medica Co., Ltd.		2,400		45,557
Techno Ryowa, Ltd.		4,800		37,132
TechnoPro Holdings, Inc.		2,300		137,802
Tecnos Japan, Inc.		2,000		13,001
Teikoku Electric Manufacturing Co., Ltd.		8,200		83,445
Teikoku Sen-I Co., Ltd.		6,900		171,061
Teikoku Tsushin Kogyo Co., Ltd.		3,000		33,009
Tenma Corp.		6,200		115,800
Tenpos Holdings Co., Ltd.		700		15,178
Teraoka Seisakusho Co., Ltd.		200		939
Terilogy Co., Ltd. (a)		1,600		14,469

BHFTII-84

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Tigers Polymer Corp.		2,200	$	11,790
TKC Corp.		6,700		245,244
Toa Corp.		9,600		96,904
Toa Corp.		5,800		84,059
Toa Oil Co., Ltd.		3,200		46,685
TOA ROAD Corp.		1,800		47,219
Toabo Corp.		3,400		13,889
Toagosei Co., Ltd.		37,000		392,479
Tobishima Corp.		5,560		67,688
TOC Co., Ltd.		15,800		109,493
Tocalo Co., Ltd.		19,200		151,668
Tochigi Bank, Ltd. (The)		38,200		81,283
Toda Kogyo Corp.		1,100		22,113
Toei Animation Co., Ltd.		4,300		212,260
Toei Co., Ltd.		1,800		239,759
Toell Co., Ltd.		3,100		23,195
Toenec Corp.		3,200		87,887
Toho Bank, Ltd. (The)		83,000		222,245
Toho Co., Ltd.		2,700		54,070
Toho Holdings Co., Ltd.		9,400		234,859
Toho Titanium Co., Ltd.		4,500		38,718
Toho Zinc Co., Ltd. (e)		5,000		142,489
Tohoku Bank, Ltd. (The)		4,700		44,631
Tohokushinsha Film Corp.		4,800		26,047
Tohto Suisan Co., Ltd.		1,400		30,340
Tokai Corp.		7,800		190,177
TOKAI Holdings Corp.		23,700		197,266
Tokai Lease Co., Ltd.		1,600		23,698
Tokai Rika Co., Ltd.		8,800		150,540
Tokai Tokyo Financial Holdings, Inc.		45,600		165,474
Token Corp.		2,460		160,023
Tokushu Tokai Paper Co., Ltd.		3,300		120,703
Tokuyama Corp.		12,600		298,589
Tokyo Base Co., Ltd. (a)		2,200		19,287
Tokyo Dome Corp.		31,000		296,147
Tokyo Electron Device, Ltd.		2,400		38,634
Tokyo Energy & Systems, Inc.		8,000		71,233
Tokyo Individualized Educational Institute, Inc.		1,400		14,105
Tokyo Keiki, Inc.		4,200		41,918
Tokyo Ohka Kogyo Co., Ltd.		13,100		358,348
Tokyo Rakutenchi Co., Ltd.		1,300		58,120
Tokyo Rope Manufacturing Co., Ltd.		4,600		40,695
Tokyo Sangyo Co., Ltd.		12,000		54,922
Tokyo Seimitsu Co., Ltd.		13,800		352,553
Tokyo Steel Manufacturing Co., Ltd.		36,800		320,193
Tokyo Tekko Co., Ltd.		3,400		38,395
Tokyo Theatres Co., Inc.		2,900		34,433
Tokyo TY Financial Group, Inc. (e)		9,724		138,083
Tokyotokeiba Co., Ltd.		3,900		118,658
Tokyu Construction Co., Ltd.		2,900		21,843
Tokyu Recreation Co., Ltd.		1,200		54,030
Toli Corp.		20,000		48,151
Tomato Bank, Ltd.		4,200		40,197
Tomen Devices Corp.		1,500		32,787
Tomoe Corp.		12,500		39,138
Tomoe Engineering Co., Ltd.		2,100		46,423
Tomoegawa Co., Ltd.		2,400		21,625
Japan—(Continued)
Tomoku Co., Ltd.		5,400		80,498
TOMONY Holdings, Inc.		56,900		216,652
Tomy Co., Ltd.		22,400		231,757
Tonami Holdings Co., Ltd.		2,200		125,263
Topcon Corp.		24,100		285,416
Toppan Forms Co., Ltd.		19,800		169,462
Topre Corp.		11,900		222,674
Topy Industries, Ltd.		6,800		136,270
Toridolll Holdings Corp. (e)		6,900		139,482
Torigoe Co., Ltd. (The)		7,100		49,037
Torii Pharmaceutical Co., Ltd.		3,600		72,583
Torikizoku Co., Ltd.		900		14,089
Torishima Pump Manufacturing Co., Ltd.		7,700		67,326
Tosei Corp.		13,200		119,780
Toshiba Machine Co., Ltd.		8,400		169,663
Toshiba Plant Systems & Services Corp.		8,100		143,916
Toshiba TEC Corp.		3,600		100,161
Tosho Co., Ltd.		4,800		133,340
Tosho Printing Co., Ltd.		7,000		64,829
Totetsu Kogyo Co., Ltd.		8,400		232,036
Tottori Bank, Ltd. (The)		3,700		47,455
Toukei Computer Co., Ltd.		1,400		38,320
Tow Co., Ltd.		5,500		36,243
Towa Bank, Ltd. (The)		11,500		74,137
Towa Corp.		8,000		49,121
Towa Pharmaceutical Co., Ltd.		8,400		221,638
Toyo Construction Co., Ltd.		25,499		98,571
Toyo Corp.		9,600		75,966
Toyo Denki Seizo KK		3,200		35,103
Toyo Engineering Corp. (a) (e)		7,600		42,113
Toyo Ink SC Holdings Co., Ltd.		15,200		341,815
Toyo Kanetsu KK		3,800		68,913
Toyo Machinery & Metal Co., Ltd.		6,000		31,195
Toyo Securities Co., Ltd.		23,000		29,585
Toyo Sugar Refining Co., Ltd.		900		8,290
Toyo Tanso Co., Ltd.		4,600		85,994
Toyo Tire & Rubber Co., Ltd.		12,100		137,634
Toyo Wharf & Warehouse Co., Ltd.		2,500		33,690
Toyobo Co., Ltd.		33,200		425,040
TPR Co., Ltd.		7,300		139,471
Trancom Co., Ltd.		2,300		135,388
Transaction Co., Ltd.		1,400		9,912
Tri Chemical Laboratories, Inc.		1,000		47,831
Trusco Nakayama Corp.		7,100		197,111
Trust Tech, Inc.		3,000		99,536
TSI Holdings Co., Ltd.		28,205		161,996
Tsubaki Nakashima Co., Ltd.		7,100		127,644
Tsubakimoto Chain Co.		9,000		322,629
Tsubakimoto Kogyo Co., Ltd.		1,600		54,727
Tsudakoma Corp.		1,600		26,925
Tsugami Corp.		17,000		131,820
Tsukada Global Holdings, Inc.		7,200		39,129
Tsukamoto Corp. Co., Ltd.		2,100		22,746
Tsukishima Kikai Co., Ltd.		8,600		107,381
Tsukuba Bank, Ltd.		34,500		60,294
Tsukui Corp.		18,800		118,608
Tsurumi Manufacturing Co., Ltd.		6,100		109,373

BHFTII-85

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Tsutsumi Jewelry Co., Ltd.		3,200	$	54,387
TV Asahi Holdings Corp.		600		10,566
TV Tokyo Holdings Corp.		3,700		78,040
TYK Corp.		6,000		19,832
U-Shin, Ltd. (a)		8,400		74,597
UACJ Corp.		10,685		200,847
Uchida Yoko Co., Ltd.		4,200		123,793
Ueki Corp.		1,100		23,207
UKC Holdings Corp. (e)		5,000		92,778
Ulvac, Inc.		10,300		299,282
UMC Electronics Co., Ltd.		700		10,105
Umenohana Co., Ltd.		600		14,641
Uniden Holdings Corp.		2,500		50,361
UNIMAT Retirement Community Co., Ltd.		800		13,180
Union Tool Co.		3,400		89,974
Unipres Corp.		13,900		217,849
United Arrows, Ltd.		6,000		208,943
United Super Markets Holdings, Inc.		20,700		205,161
UNITED, Inc.		2,200		30,218
Unitika, Ltd. (a)		15,600		60,184
Unizo Holdings Co., Ltd.		6,000		114,535
Usen-Next Holdings Co., Ltd. (a)		2,700		21,198
Ushio, Inc.		39,000		456,424
UT Group Co., Ltd. (e)		7,600		174,820
Utoc Corp.		5,100		25,982
V Technology Co., Ltd.		1,000		127,200
V-Cube, Inc.		2,100		9,811
Valor Holdings Co., Ltd.		11,800		286,308
ValueCommerce Co., Ltd.		5,000		93,623
Vector, Inc. (e)		7,500		95,224
VIA Holdings, Inc. (a)		1,600		9,867
Village Vanguard Co., Ltd.		2,300		19,558
VINX Corp.		1,000		9,495
Vision, Inc. (a)		1,400		65,220
Vital KSK Holdings, Inc. (e)		14,200		140,081
Vitec Holdings Co., Ltd. (a)		3,700		68,338
Voyage Group, Inc.		1,500		15,502
VT Holdings Co., Ltd.		24,300		91,854
Wacoal Holdings Corp.		10,900		271,344
Wacom Co., Ltd.		23,300		98,676
Wakachiku Construction Co., Ltd.		4,600		61,859
Wakamoto Pharmaceutical Co., Ltd. (a)		9,000		22,883
Wakita & Co., Ltd.		15,300		153,138
Warabeya Nichiyo Holdings Co., Ltd.		5,000		82,267
Waseda Academy Co., Ltd.		1,400		8,776
Watahan & Co., Ltd.		1,600		31,076
WATAMI Co., Ltd.		7,600		110,794
Watts Co., Ltd.		1,900		12,559
WDB Holdings Co., Ltd.		2,200		61,753
Weathernews, Inc.		2,100		61,301
West Holdings Corp.		7,200		72,141
Will Group, Inc.		2,200		24,133
WIN-Partners Co., Ltd.		3,700		42,134
WirelessGate, Inc. (a)		1,000		4,337
Wood One Co., Ltd.		2,600		24,442
World Holdings Co., Ltd.		1,700		29,095
Wowow, Inc.		2,200		59,025
Japan—(Continued)
Xebio Holdings Co., Ltd.		8,700		95,957
Y.A.C. Holdings Co., Ltd.		3,900		25,193
YA-MAN, Ltd. (e)		6,200		64,082
Yachiyo Industry Co., Ltd.		3,900		25,444
Yahagi Construction Co., Ltd.		10,900		75,617
Yaizu Suisankagaku Industry Co., Ltd.		4,400		44,349
Yakuodo Co., Ltd.		2,900		69,837
YAMABIKO Corp.		12,800		123,453
YAMADA Consulting Group Co., Ltd.		3,100		64,850
Yamagata Bank, Ltd. (The)		10,400		185,322
Yamaichi Electronics Co., Ltd.		8,200		80,961
Yamanashi Chuo Bank, Ltd. (The)		11,800		146,238
Yamatane Corp.		3,400		48,062
Yamato Corp.		6,600		29,296
Yamato International, Inc.		6,700		25,483
Yamato Kogyo Co., Ltd.		8,900		243,502
Yamaya Corp.		1,150		23,274
Yamazawa Co., Ltd.		1,000		15,182
Yamazen Corp.		19,500		206,185
Yaoko Co., Ltd.		2,000		98,416
Yashima Denki Co., Ltd.		7,500		56,189
Yasuda Logistics Corp.		7,400		61,715
Yasunaga Corp.		1,700		21,246
Yellow Hat, Ltd.		11,600		152,903
Yodogawa Steel Works, Ltd.		7,600		141,334
Yokogawa Bridge Holdings Corp.		12,800		220,578
Yokohama Reito Co., Ltd.		16,800		135,926
Yokowo Co., Ltd.		5,200		76,075
Yomeishu Seizo Co., Ltd.		3,000		57,879
Yomiuri Land Co., Ltd.		1,300		50,926
Yondenko Corp.		1,600		39,318
Yondoshi Holdings, Inc.		4,600		86,665
Yorozu Corp.		7,900		103,353
Yossix Co., Ltd.		400		12,866
Yuasa Funashoku Co., Ltd.		1,300		43,162
Yuasa Trading Co., Ltd.		5,800		164,189
Yuken Kogyo Co., Ltd.		1,700		25,887
Yume No. Machi Souzou Iinkai Co., Ltd.		3,500		50,587
Yumeshin Holdings Co., Ltd. (e)		13,100		91,599
Yurtec Corp.		12,000		87,912
Yushiro Chemical Industry Co., Ltd.		3,700		42,904
Yutaka Giken Co., Ltd.		600		10,353
Zappallas, Inc. (a)		4,900		18,825
Zenrin Co., Ltd.		10,950		243,624
ZIGExN Co., Ltd.		13,100		69,496
Zojirushi Corp. (e)		9,800		101,963
Zuiko Corp.		1,000		23,439
Zuken, Inc.		5,400		73,244
				143,726,668
Jersey, Channel Islands — 0.1%
Centamin plc		392,183		455,522
Highland Gold Mining, Ltd.		4,544		10,855
				466,377

BHFTII-86

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Jordan — 0.1%
Hikma Pharmaceuticals plc		21,469	$	501,232
Kazakhstan — 0.1%
KAZ Minerals plc		42,164		360,569
Liechtenstein — 0.1%
Liechtensteinische Landesbank AG		2,973		208,166
VP Bank AG		803		110,805
				318,971
Luxembourg — 0.1%
APERAM S.A.		21,182		604,736
L’Occitane International S.A.		80,750		149,768
				754,504
Macau — 0.0%
Macau Legend Development, Ltd.		521,000		88,269
Malta — 0.1%
Kindred Group plc		58,240		582,346
Monaco — 0.0%
Endeavour Mining Corp. (a)		18,315		274,927
Netherlands — 2.9%
Aalberts Industries NV		34,547		1,195,653
Accell Group		11,127		309,060
Altice Europe NV - Class A (a) (e)		57,865		152,390
AMG Advanced Metallurgical Group NV		11,371		354,955
Amsterdam Commodities NV		6,535		143,445
Arcadis NV (e)		35,066		546,920
Argenx SE (a)		7,148		887,127
ASM International NV (a)		19,662		1,067,921
Atrium European Real Estate, Ltd. (a)		66,764		249,413
Basic-Fit NV (a)		6,680		224,858
BE Semiconductor Industries NV		37,120		989,885
Beter Bed Holding NV		5,373		26,478
BinckBank NV		28,201		199,330
Boskalis Westminster (e)		23,702		613,589
Brack Capital Properties NV (a)		716		77,724
Brunel International NV		9,034		137,073
Corbion NV		20,382		613,331
Euronext NV		16,910		1,073,181
Flow Traders		9,083		250,650
ForFarmers NV		6,572		54,075
Fugro NV (a) (e)		22,630		230,791
Funcom NV (a)		17,843		34,454
GrandVision NV		6,751		146,236
Heijmans NV (a)		11,179		111,980
Hunter Douglas NV		2,423		162,565
IMCD NV		12,738		970,194
Intertrust NV		14,607		275,468
KAS Bank NV		6,580		90,548
Kendrion NV		4,048		89,399
Koninklijke BAM Groep NV		112,237		484,357
Koninklijke Vopak NV		11,361		544,220
Netherlands —(Continued)
Lucas Bols B.V. (a) (c)		1,325		23,782
Nederland Apparatenfabriek		2,241		121,479
New World Resources plc - A Shares (b) (c) (d)		11,898		0
OCI NV (a) (e)		16,061		442,284
Ordina NV		44,115		93,171
PostNL NV		180,576		462,681
Rhi Magnesita NV (c) (e)		6,294		369,130
SBM Offshore NV		72,035		1,369,510
Shop Apotheke Europe NV (a)		2,106		86,721
SIF Holding NV (e)		1,259		14,166
Signify NV		23,840		638,304
Sligro Food Group NV		10,629		380,960
SNS REAAL NV (b) (c) (d)		105,329		0
Takeaway.com NV (a)		6,682		507,496
TKH Group NV		13,932		657,546
TomTom NV (a)		51,405		432,640
Van Lanschot Kempen NV (a)		3,001		67,992
Wessanen		31,675		386,832
				18,361,964
New Zealand—0.8%
Abano Healthcare Group, Ltd.		880		2,339
Air New Zealand, Ltd.		72,051		124,466
Briscoe Group, Ltd.		13,123		29,126
Chorus, Ltd.		129,598		521,159
Ebos Group, Ltd.		17,497		262,243
Eroad, Ltd. (a)		4,808		8,773
Freightways, Ltd.		38,693		217,762
Genesis Energy, Ltd.		71,444		156,822
Gentrack Group, Ltd.		7,810		26,072
Hallenstein Glasson Holdings, Ltd.		19,012		60,705
Heartland Group Holdings, Ltd.		72,313		73,939
Infratil, Ltd.		173,171		492,125
Investore Property, Ltd. (REIT)		15,456		16,953
Kathmandu Holdings, Ltd.		24,348		37,187
Mainfreight, Ltd.		17,657		431,353
Methven, Ltd.		19,898		22,103
Metlifecare, Ltd.		34,148		116,260
Metro Performance Glass, Ltd.		8,816		2,647
Michael Hill International, Ltd.		82,929		39,517
New Zealand Refining Co., Ltd. (The)		27,432		39,274
NZME, Ltd.		71,247		28,156
NZX, Ltd.		83,876		57,117
Pacific Edge, Ltd. (a)		17,353		3,546
PGG Wrightson, Ltd.		58,545		19,540
Port of Tauranga, Ltd.		31,659		117,196
Pushpay Holdings, Ltd. (a)		9,920		21,723
Restaurant Brands New Zealand, Ltd.		33,397		199,107
Rubicon, Ltd. (a)		9,922		1,305
Sanford, Ltd.		314		1,511
Scales Corp., Ltd.		16,784		56,515
Serko, Ltd. (a)		3,960		8,587
Skellerup Holdings, Ltd.		39,167		56,325
SKY Network Television, Ltd.		114,579		100,758
SKYCITY Entertainment Group, Ltd.		173,489		457,486
Steel & Tube Holdings, Ltd.		15,937		12,806

BHFTII-87

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
New Zealand—(Continued)
Summerset Group Holdings, Ltd.		32,970	$	148,314
Synlait Milk, Ltd. (a)		13,460		97,313
Tourism Holdings, Ltd.		21,653		69,963
TOWER, Ltd. (a)		59,836		28,555
Trade Me Group, Ltd.		106,241		463,704
Trustpower, Ltd.		13,980		62,930
Warehouse Group, Ltd. (The)		39,693		58,935
Z Energy, Ltd.		47,186		201,290
				4,953,507
Norway—0.9%
ABG Sundal Collier Holding ASA		134,443		63,924
AF Gruppen ASA		2,331		41,491
Akastor ASA (a)		47,184		71,811
Aker Solutions ASA (a)		37,475		189,369
American Shipping Co. ASA (a)		19,821		73,444
Archer, Ltd. (a) (e)		19,287		11,059
Atea ASA (a)		19,449		282,462
Avance Gas Holding, Ltd. (a) (e)		14,826		29,571
Axactor SE (a)		33,599		71,673
B2Holding ASA		20,790		29,189
Bionor Pharma ASA		3,359		14,068
Bonheur ASA		10,311		152,809
Borregaard ASA		26,596		264,085
BW Offshore, Ltd. (a)		33,722		175,400
Data Respons ASA		17,251		58,025
DNO ASA		164,269		365,106
DOF ASA (a) (e)		47,311		26,186
Europris ASA (a)		62,298		199,047
Frontline, Ltd. (a) (e)		24,306		155,277
Grieg Seafood ASA		13,378		162,375
Hexagon Composites ASA		28,187		107,596
Hoegh LNG Holdings, Ltd.		13,626		57,126
IDEX Corp. (a) (e)		53,185		22,442
Itera ASA		17,553		16,763
Kongsberg Automotive ASA (a)		176,177		157,338
Kvaerner ASA		60,872		89,253
Magnora ASA		16,466		14,515
NEL ASA (a)		304,724		205,504
Next Biometrics Group (a)		560		557
Nordic Nanovector ASA (a) (e)		11,170		57,891
Nordic Semiconductor ASA (a)		36,041		150,901
Norway Royal Salmon ASA		3,880		89,967
Norwegian Air Shuttle ASA (a) (e)		26,268		134,215
Norwegian Finans Holding ASA (a)		19,332		150,203
Norwegian Property ASA		57,688		72,664
Ocean Yield ASA		12,183		90,309
Odfjell Drilling, Ltd. (a)		15,318		48,016
Odfjell SE - A Shares		1,949		7,005
Olav Thon Eiendomsselskap ASA		2,423		42,593
Otello Corp. ASA (a)		27,717		48,142
Panoro Energy ASA (a) (e)		16,444		30,946
Petroleum Geo-Services ASA (a)		73,446		169,979
PhotoCure ASA (a)		5,477		26,968
ProSafe SE (a)		16,437		31,568
Protector Forsikring ASA (a)		19,382		117,147
Norway—(Continued)
Q-Free ASA (a)		24,256		22,513
Sbanken ASA		18,903		171,572
Scatec Solar ASA		26,893		276,887
Selvaag Bolig ASA		14,928		74,434
Solstad Offshore ASA (a)		53,910		9,892
Spectrum ASA		10,674		68,162
Stolt-Nielsen, Ltd.		7,397		92,450
Treasure ASA		21,003		29,102
Veidekke ASA		28,524		299,452
Wilh Wilhelmsen Holding ASA - Class A		4,777		83,640
XXL ASA (e)		17,225		56,926
				5,561,009
Peru—0.0%
Hochschild Mining plc		85,311		229,672
Philippines—0.0%
Del Monte Pacific, Ltd. (a)		77,636		8,013
Portugal—0.4%
Altri SGPS S.A.		27,747		217,505
Banco Comercial Portugues S.A. - Class R (a)		2,143,248		553,976
Banco Espirito Santo S.A. (b) (d)		89,078		0
CTT-Correios de Portugal S.A.		47,697		138,103
Mota-Engil SGPS S.A. (a)		40,942		93,831
Navigator Co. S.A. (The)		71,289		326,415
NOS SGPS S.A.		74,998		479,671
Novabase SGPS S.A.		7,827		21,963
REN - Redes Energeticas Nacionais SGPS S.A.		122,322		348,883
Semapa-Sociedade de Investimento e Gestao		4,163		67,850
Sonae SGPS S.A.		280,308		290,067
Teixeira Duarte S.A. (a)		59,382		9,737
				2,548,001
Russia—0.0%
Petropavlovsk plc (a)		830,780		90,287
Singapore—1.1%
Abterra, Ltd. (a) (b) (c) (d)		51,720		279
Accordia Golf Trust		145,200		63,794
AEM Holdings, Ltd.		46,900		39,984
Ascendas India Trust		237,000		208,490
ASL Marine Holdings, Ltd. (a)		52,500		1,782
Avarga, Ltd.		46,000		8,325
Baker Technology, Ltd.		33,200		10,534
Banyan Tree Holdings, Ltd.		97,700		41,101
Best World International, Ltd.		80,000		128,212
Bonvests Holdings, Ltd.		18,000		17,133
Boustead Projects, Ltd.		24,607		16,707
Boustead Singapore, Ltd.		82,025		47,817
BreadTalk Group, Ltd.		54,200		34,420
Bukit Sembawang Estates, Ltd.		69,100		287,872
BW LPG, Ltd. (a) (e)		25,142		87,858
Centurion Corp., Ltd.		98,400		30,515
China Aviation Oil Singapore Corp., Ltd.		94,800		93,948
Chip Eng Seng Corp., Ltd.		157,000		88,864

BHFTII-88

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Singapore—(Continued)
Chuan Hup Holdings, Ltd.		125,000	$	33,654
CITIC Envirotech, Ltd.		207,500		73,697
CNQC International Holdings, Ltd.		82,500		17,340
COSCO Shipping International Singapore Co., Ltd. (a)		272,500		67,503
Creative Technology, Ltd. (a)		16,300		55,079
CSE Global, Ltd.		197,000		78,633
CW Group Holdings, Ltd. (b) (c) (d)		106,000		1,169
Delfi, Ltd.		66,000		63,428
Dyna-Mac Holdings, Ltd. (a)		98,000		7,525
Elec & Eltek International Co., Ltd.		23,000		33,406
Ezion Holdings, Ltd. (a) (b) (c) (d)		753,729		23,915
Ezra Holdings, Ltd. (a) (b) (c) (d)		1,000,703		7,599
Far East Orchard, Ltd.		74,044		68,906
First Resources, Ltd.		99,500		120,562
Food Empire Holdings, Ltd.		54,000		21,552
Fragrance Group, Ltd.		752,800		75,403
Fraser and Neave, Ltd.		7,900		10,552
Fu Yu Corp., Ltd.		98,800		14,615
Gallant Venture, Ltd. (a)		126,000		11,994
Geo Energy Resources, Ltd.		155,000		20,367
GK Goh Holdings, Ltd.		12,000		7,703
GL, Ltd.		188,000		109,625
Golden Agri-Resources, Ltd.		988,100		204,990
Golden Energy & Resources, Ltd.		69,000		11,472
GuocoLand, Ltd.		44,400		63,640
Halcyon Agri Corp., Ltd.		188,713		58,480
Hanwell Holdings, Ltd.		19,000		3,861
Haw Par Corp., Ltd.		22,700		223,645
Hi-P International, Ltd.		50,200		56,979
Hiap Hoe, Ltd.		58,000		36,805
Ho Bee Land, Ltd.		67,200		125,014
Hong Fok Corp., Ltd.		146,740		100,247
Hong Leong Asia, Ltd. (a)		82,000		35,840
Hong Leong Finance, Ltd.		13,300		26,702
Hotel Grand Central, Ltd.		25,900		26,207
Hour Glass, Ltd. (The)		129,000		63,815
Hwa Hong Corp., Ltd.		138,000		33,094
Hyflux, Ltd. (a) (b) (c) (d)		179,500		2,693
iFAST Corp., Ltd.		25,500		20,729
IGG, Inc.		300,000		415,748
Indofood Agri Resources, Ltd.		152,000		23,061
Japfa, Ltd.		89,700		43,087
k1 Ventures, Ltd. (b) (c) (d)		80,800		0
Kenon Holdings, Ltd. (c)		3,549		68,096
Keppel Infrastructure Trust		549,659		188,688
Keppel Telecommunications & Transportation, Ltd.		44,000		61,359
Koh Brothers Group, Ltd.		97,000		16,104
KSH Holdings, Ltd.		25,700		9,588
Lian Beng Group, Ltd.		116,900		43,150
Low Keng Huat Singapore, Ltd.		122,600		49,232
Lum Chang Holdings, Ltd.		115,000		29,694
Metro Holdings, Ltd.		141,600		104,053
Mewah International, Inc.		110,000		22,726
Midas Holdings, Ltd. (a) (b) (c) (d)		452,000		12,007
mm2 Asia, Ltd. (a)		149,800		33,744
NSL, Ltd.		15,000		12,407
Overseas Union Enterprise, Ltd.		119,200		149,634
Singapore—(Continued)
Oxley Holdings, Ltd.		198,164		45,403
Pan-United Corp., Ltd.		53,750		9,924
Penguin International, Ltd.		64,333		18,169
Q&M Dental Group Singapore, Ltd.		41,800		13,731
QAF, Ltd.		74,167		45,988
Raffles Education Corp., Ltd. (a)		500,206		30,307
Raffles Medical Group, Ltd.		178,285		140,882
RHT Health Trust		84,400		995
Rickmers Maritime (a) (b) (c) (d)		110,000		0
Riverstone Holdings, Ltd.		76,400		61,482
Roxy-Pacific Holdings, Ltd.		94,325		27,144
SBS Transit, Ltd.		40,500		119,309
Sembcorp Marine, Ltd.		149,900		178,587
Sheng Siong Group, Ltd.		133,900		102,814
SHS Holdings, Ltd.		47,000		6,690
SIA Engineering Co., Ltd.		65,700		119,365
SIIC Environment Holdings, Ltd.		167,400		41,375
Sinarmas Land, Ltd.		618,500		109,789
Sing Holdings, Ltd.		82,000		23,619
Singapore Post, Ltd.		314,800		232,414
Singapore Reinsurance Corp., Ltd.		1,000		214
Stamford Land Corp., Ltd.		278,000		102,579
StarHub, Ltd.		107,000		117,794
Sunningdale Tech, Ltd.		41,100		42,195
Swiber Holdings, Ltd. (a) (b) (c) (d)		117,749		1,772
Tuan Sing Holdings, Ltd.		169,000		50,631
UMS Holdings, Ltd.		116,250		62,478
United Engineers, Ltd.		138,000		256,686
United Industrial Corp., Ltd.		13,600		29,117
United Overseas Insurance, Ltd.		4,000		20,808
UOB-Kay Hian Holdings, Ltd.		136,495		123,945
Vibrant Group, Ltd. (a)		47,600		4,704
Vicom, Ltd.		2,000		9,652
Wee Hur Holdings, Ltd.		85,000		13,220
Wing Tai Holdings, Ltd.		159,621		239,149
XP Power, Ltd.		4,116		133,952
Yeo Hiap Seng, Ltd.		19,712		13,971
Yongnam Holdings, Ltd. (a)		241,875		27,880
				7,087,187
South Africa—0.0%
Caledonia Mining Corp. plc		1,300		7,597
Mediclinic International plc		2,537		10,082
Petra Diamonds, Ltd. (a)		279,686		70,174
				87,853
Spain—2.4%
Acciona S.A.		7,805		869,759
Acerinox S.A.		70,013		694,348
Alantra Partners S.A.		4,852		75,661
Almirall S.A.		20,705		353,635
Amper S.A. (a) (e)		224,339		60,919
Applus Services S.A.		33,014		394,250
Atresmedia Corp. de Medios de Comunicacion S.A.		21,362		100,222
Azkoyen S.A.		1,608		13,814
Bolsas y Mercados Espanoles SHMSF S.A.		27,936		781,161

BHFTII-89

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Spain—(Continued)
Caja de Ahorros del Mediterraneo (a) (b) (c) (d)		14,621	$	0
Cellnex Telecom S.A. (a)		41,922		1,230,463
Cia de Distribucion Integral Logista Holdings S.A.		11,001		259,228
Cie Automotive S.A.		17,266		464,872
Construcciones y Auxiliar de Ferrocarriles S.A.		5,880		282,737
Distribuidora Internacional de Alimentacion S.A.		184,598		134,894
Duro Felguera S.A. (a)		925,200		14,242
Ebro Foods S.A.		25,801		551,750
eDreams ODIGEO S.A. (a) (e)		14,588		43,799
Elecnor S.A.		11,262		149,854
Enagas S.A.		28,014		815,462
Ence Energia y Celulosa S.A		61,968		345,324
Ercros S.A.		60,314		212,360
Euskaltel S.A.		9,150		85,290
Faes Farma S.A.		136,445		577,238
Fluidra S.A. (a)		16,366		187,965
Fomento de Construcciones y Contratas S.A. (a)		4,419		57,706
Global Dominion Access S.A. (a)		25,444		135,624
Grupo Catalana Occidente S.A.		20,412		728,516
Grupo Empresarial San Jose S.A. (a)		8,320		62,094
Grupo Ezentis S.A. (a)		78,251		45,142
Iberpapel Gestion S.A.		1,128		38,452
Indra Sistemas S.A. (a)		42,149		468,311
Laboratorios Farmaceuticos Rovi S.A.		3,511		73,865
Liberbank S.A. (a)		410,152		174,956
Masmovil Ibercom S.A. (a)		8,914		188,522
Mediaset Espana Comunicacion S.A.		49,361		368,858
Melia Hotels International S.A.		24,250		225,203
Miquel y Costas & Miquel S.A.		11,154		203,940
Obrascon Huarte Lain S.A. (e)		35,775		45,096
Parques Reunidos Servicios Centrales S.A. Unipersonal		153		1,861
Pharma Mar S.A. (a) (e)		72,263		119,793
Prim S.A.		3,013		37,519
Promotora de Informaciones S.A. - Class A (a) (e)		87,762		158,724
Prosegur Cia de Seguridad S.A.		54,905		297,589
Quabit Inmobiliaria S.A. (a)		21,835		30,880
Realia Business S.A. (a)		143,011		154,988
Sacyr S.A. (e)		119,046		301,339
Solaria Energia y Medio Ambiente S.A. (a)		19,439		103,201
Talgo S.A. (a)		18,100		117,033
Tecnicas Reunidas S.A.		11,115		312,513
Telepizza Group S.A.		5,237		36,475
Tubacex S.A. (e)		28,250		85,252
Vidrala S.A.		7,634		667,193
Viscofan S.A.		14,797		926,302
Vocento S.A.		18,128		27,026
Zardoya Otis S.A.		39,808		329,679
				15,222,899
Sweden—3.0%
AcadeMedia AB (a)		2,413		13,497
Acando AB		32,705		145,051
AddLife AB - Class B		9,216		233,232
AddNode Group AB		7,307		103,812
AddTech AB - B Shares		21,786		452,381
AF AB - B Shares		19,518		325,701
Sweden—(Continued)
Ahlstrom-Munksjo Oyj		17,418		266,881
Alimak Group AB		9,373		133,496
Arise AB (a)		4,852		10,048
Arjo AB - B Shares		37,778		138,858
Atrium Ljungberg AB - B Shares		6,654		113,732
Attendo AB		20,278		102,095
Avanza Bank Holding AB		7,660		328,939
BE Group AB		1,962		8,807
Beijer Alma AB		15,250		215,792
Beijer Electronics Group AB		7,843		47,744
Beijer Ref AB		20,376		327,889
Bergman & Beving AB - B Shares		12,796		146,724
Besqab AB		1,061		9,988
Betsson AB (a)		33,012		250,499
Bilia AB - A Shares		34,008		290,437
BillerudKorsnas AB		11,161		148,636
BioGaia AB - B Shares		6,083		298,402
Biotage AB		18,332		233,716
Bjorn Borg AB (a)		9,936		27,067
Bonava AB		928		11,726
Bonava AB - B Shares		15,671		197,098
Bravida Holding AB		42,422		374,019
Bufab AB		7,973		83,848
Bulten AB		6,239		53,386
Bure Equity AB		18,672		312,771
Byggmax Group AB		18,326		60,250
Catena AB		6,561		181,621
Clas Ohlson AB - B Shares		13,900		106,938
Cloetta AB - B Shares		92,493		238,599
Coor Service Management Holding AB		9,520		84,779
Corem Property Group AB - B Shares		32,304		45,790
Dios Fastigheter AB		38,354		314,821
Dometic Group AB		22,651		178,131
Doro AB (a)		3,391		12,802
Duni AB (a)		14,094		152,234
Dustin Group AB		18,741		175,545
Eastnine AB		7,088		86,068
Elanders AB - B Shares		1,453		14,384
Enea AB (a)		4,082		61,411
eWork Group AB		2,864		28,660
Fagerhult AB (e)		13,852		106,450
FastPartner AB		5,698		42,554
Fingerprint Cards AB - Class B (a) (e)		28,890		41,140
GHP Specialty Care AB		7,172		10,924
Granges AB		19,836		203,817
Gunnebo AB		12,816		37,029
Haldex AB		16,480		109,938
Heba Fastighets AB - Class B		1,653		25,519
Hembla AB (a)		4,246		82,113
Hemfosa Fastigheter AB		35,677		313,055
HIQ International AB		11,690		75,459
HMS Networks AB		7,891		137,007
Hoist Finance AB		3,999		15,978
Holmen AB - B Shares		16,615		360,392
Humana AB		5,221		39,168
Inwido AB		16,291		96,769
ITAB Shop Concept AB - Class B		1,944		4,234

BHFTII-90

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Sweden—(Continued)
JM AB (e)		23,748	$	425,761
KappAhl AB		29,980		54,521
Klovern AB - B Shares (e)		158,702		217,660
Know It AB		9,489		203,157
Kungsleden AB		56,456		449,406
Lagercrantz Group AB - B Shares		21,001		225,993
Lindab International AB		29,457		267,672
Loomis AB - Class B		17,199		592,275
Medivir AB - B Shares (a)		10,470		17,575
Mekonomen AB (e)		9,225		64,399
Momentum Group AB - Class B		12,796		128,326
MQ Holding AB (a)		9,112		4,715
Mycronic AB		25,742		366,494
Nederman Holding AB		6,476		77,293
Net Insight AB - Class B (a)		74,697		16,532
NetEnt AB (a)		74,590		270,959
New Wave Group AB - B Shares		19,643		128,548
Nobia AB		40,224		235,864
Nobina AB		33,657		216,581
Nolato AB - B Shares		9,452		393,133
Nordic Waterproofing Holding		3,742		33,437
NP3 Fastigheter AB		9,667		77,999
Nyfosa AB (a)		42,207		253,037
OEM International AB - B Shares		3,305		68,025
Opus Group AB		92,554		54,753
Peab AB		52,083		450,451
Platzer Fastigheter Holding AB - Class B		10,293		84,724
Pricer AB - B Shares		32,212		39,582
Proact IT Group AB		2,832		65,345
Qliro Group AB (a)		24,348		26,258
Ratos AB - B Shares (e)		45,770		92,788
RaySearch Laboratories AB (a)		10,154		113,042
Recipharm AB - B Shares		12,287		181,956
Rottneros AB		26,936		31,698
Sagax AB - Class B		14,540		274,688
SAS AB (a)		86,322		173,517
Scandi Standard AB		19,443		128,080
Scandic Hotels Group AB		17,969		160,487
Sectra AB - B Shares (a)		6,258		178,866
Semcon AB		5,540		35,472
Sensys Gatso Group AB (a)		223,283		37,815
SkiStar AB		18,152		199,827
Sweco AB - B Shares		14,540		350,467
Systemair AB		5,455		58,389
Thule Group AB		31,633		714,823
Troax Group AB		3,823		122,265
VBG Group AB - B Shares		746		11,123
Victoria Park AB - B Shares		8,678		34,445
Vitrolife AB		17,061		388,441
Wallenstam AB - B Shares		19,111		192,942
Wihlborgs Fastigheter AB		53,876		734,777
				18,576,234
Switzerland—4.9%
Allreal Holding AG (a)		4,035		686,913
Alpiq Holding AG (a)		156		10,026
Switzerland—(Continued)
ALSO Holding AG (a)		1,640		212,211
APG SGA S.A.		468		132,840
Arbonia AG (a) (e)		10,560		109,061
Aryzta AG (a)		188,450		258,358
Ascom Holding AG		12,379		165,954
Autoneum Holding AG (e)		1,187		136,999
Bachem Holding AG - Class B		82		10,025
Banque Cantonale de Geneve		750		149,904
Banque Cantonale Vaudoise (a)		385		308,685
Belimo Holding AG		131		654,675
Bell Food Group AG		880		253,650
Bellevue Group AG		3,322		67,411
Berner Kantonalbank AG		1,950		473,897
BFW Liegenschaften AG (a)		528		23,019
BKW AG		5,103		348,061
Bobst Group S.A.		3,743		226,606
Bossard Holding AG - Class A		2,139		329,151
Bucher Industries AG		2,604		872,158
Burckhardt Compression Holding AG		407		110,821
Burkhalter Holding AG		1,291		89,516
Calida Holding AG (a)		2,002		61,026
Carlo Gavazzi Holding AG		48		12,291
Cembra Money Bank AG (a)		7,813		739,411
Cham Group AG (a)		113		47,088
Cicor Technologies, Ltd. (e)		644		36,858
Cie Financiere Tradition S.A.		579		61,656
Coltene Holding AG		1,308		126,832
Conzzeta AG		325		254,702
Daetwyler Holding AG		2,353		348,217
DKSH Holding AG		7,281		419,955
dormakaba Holding AG (a)		840		601,759
Dufry AG (a)		3,547		373,130
EDAG Engineering Group AG (a)		3,171		56,915
EFG International AG (a)		20,307		128,645
Emmi AG (a)		773		680,414
Energiedienst Holding AG		3,530		106,341
Evolva Holding S.A. (a)		36,339		8,821
Feintool International Holding AG (a) (e)		588		39,756
Fenix Outdoor International AG		1,091		112,439
Ferrexpo plc		89,833		290,614
Flughafen Zurich AG (a)		3,604		657,979
Forbo Holding AG		313		491,131
GAM Holding AG (a)		68,723		214,767
Georg Fischer AG		1,225		1,116,996
Gurit Holding AG (a)		164		153,479
Helvetia Holding AG		2,135		1,304,348
Hiag Immobilien Holding AG (a)		1,239		163,038
Highlight Communications AG (a)		7,829		40,425
HOCHDORF Holding AG (a)		174		21,026
Huber & Suhner AG		4,851		350,423
Implenia AG		6,413		191,062
Inficon Holding AG (a)		600		334,461
Interroll Holding AG		226		458,512
Intershop Holding AG		416		212,224
IWG plc		206,169		669,794
Jungfraubahn Holding AG		85		12,123
Kardex AG		2,247		338,877

BHFTII-91

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Switzerland—(Continued)
Komax Holding AG (a)		1,292	$	271,742
Kudelski S.A. (a) (e)		13,221		79,439
Lastminute.com NV (a)		576		11,858
LEM Holding S.A.		246		316,284
Logitech International S.A.		4,937		193,867
Luzerner Kantonalbank AG		1,452		691,550
MCH Group AG		831		13,351
Meier Tobler Group AG (a) (e)		872		15,988
Metall Zug AG - B Shares		66		166,689
Mikron Holding AG (a)		474		3,560
Mobilezone Holding AG		11,899		119,411
Mobimo Holding AG (a)		2,761		694,766
OC Oerlikon Corp. AG (a)		57,156		732,338
Orascom Development Holding AG (a)		5,250		89,127
Orell Fuessli Holding AG		428		41,272
Oriflame Holding AG (a)		4,601		88,413
Orior AG		2,240		179,824
Panalpina Welttransport Holding AG		2,930		488,192
Phoenix Mecano AG		274		133,318
Plazza AG - Class A		453		109,629
PSP Swiss Property AG		12,828		1,393,939
Resurs Holding AB		23,894		148,070
Rieter Holding AG (a) (e)		1,344		193,329
Romande Energie Holding S.A.		111		125,415
Schaffner Holding AG (a)		238		55,124
Schmolz & Bickenbach AG (a)		161,565		71,843
Schweiter Technologies AG		381		367,863
SFS Group AG (a)		3,820		332,066
Siegfried Holding AG (a)		1,571		564,277
St. Galler Kantonalbank AG		1,123		516,308
Sulzer AG		4,670		455,782
Sunrise Communications Group AG (a)		9,217		678,940
Swiss Prime Site AG (a)		1,578		138,320
Swissquote Group Holding S.A. (a)		3,968		144,787
Tamedia AG		904		91,781
Tecan Group AG		329		77,619
U-Blox Holding AG (a)		2,262		172,010
Valiant Holding AG		5,102		586,603
Valora Holding AG (a) (e)		1,467		404,970
VAT Group AG (a)		6,457		679,902
Vaudoise Assurances Holding S.A.		423		212,432
Vetropack Holding AG		88		191,963
Von Roll Holding AG (a)		7,038		9,681
Vontobel Holding AG		9,780		526,271
VZ Holding AG		691		180,876
Walliser Kantonalbank		1,160		145,034
Warteck Invest AG (a)		35		69,251
Ypsomed Holding AG (a)		1,361		174,429
Zehnder Group AG		3,984		135,019
Zug Estates Holding AG - B Shares (a)		83		143,375
Zuger Kantonalbank AG		59		363,877
				30,659,250
Turkey—0.0%
Global Ports Holding plc		3,344		16,561
United Arab Emirates—0.0%
Lamprell plc (a)		100,553		77,270
United Kingdom—16.1%
4imprint Group plc		7,338		235,184
888 Holdings plc		86,183		175,603
A.G. Barr plc		45,463		478,222
AA plc		210,707		249,671
Acacia Mining plc (a)		60,980		156,224
Advanced Medical Solutions Group plc		3,307		13,644
Afren plc (a) (b) (c) (d)		251,096		0
Aggreko plc		70,956		729,072
Air Partner plc		4,960		4,833
Amerisur Resources plc (a)		50,910		9,234
Anglo Pacific Group plc		35,633		78,004
Anglo-Eastern Plantations plc		5,782		38,499
Arrow Global Group plc		38,600		109,548
Ascential plc		3,642		16,926
Ashmore Group plc		106,400		593,049
ASOS plc (a)		2,250		93,832
Auto Trader Group plc		244,378		1,661,096
AVEVA Group plc		7,022		295,808
Avon Rubber plc		11,857		200,936
B&M European Value Retail S.A.		259,478		1,263,838
Babcock International Group plc		68,516		441,919
Balfour Beatty plc		232,244		794,709
BBA Aviation plc		400,738		1,300,184
BCA Marketplace plc		4,290		11,048
Beazley plc		157,400		1,056,053
Begbies Traynor Group plc		12,000		9,791
Bellway plc		40,936		1,627,679
Bloomsbury Publishing plc		25,349		75,283
Bodycote plc		84,979		911,370
boohoo Group plc (a)		130,724		322,784
Bovis Homes Group plc		60,601		839,706
Braemar Shipping Services plc		7,120		15,302
Brewin Dolphin Holdings plc		101,304		413,191
Britvic plc		83,065		1,032,602
BTG plc (a)		65,897		715,792
Cairn Energy plc (a)		234,247		493,783
Capita plc		17,105		27,739
Capital & Counties Properties plc		209,181		656,797
Carclo plc (a)		16,990		7,181
Card Factory plc		94,418		222,016
CareTech Holdings plc		6,777		29,631
Carpetright plc (a)		40,521		7,291
Carr’s Group plc		19,239		32,449
Castings plc		2,870		13,383
Centaur Media plc		92,526		66,919
Charles Taylor plc		17,127		43,481
Chemring Group plc		123,138		222,752
Chesnara plc		58,648		288,846
Cineworld Group plc		300,723		1,149,488
City of London Investment Group plc		6,851		35,339
Clarkson plc		7,732		239,541
Clipper Logistics plc		3,880		13,457
Close Brothers Group plc		58,401		1,109,334
CLS Holdings plc		60,694		194,144

BHFTII-92

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
CMC Markets plc		42,124	$	45,609
Cobham plc (a)		641,178		922,923
Computacenter plc		29,696		428,050
Concentric AB		16,079		254,416
Connect Group plc		113,763		56,336
Consort Medical plc		22,450		256,722
ConvaTec Group plc		89,066		164,331
Costain Group plc		35,950		156,869
Countryside Properties plc		72,189		305,610
Countrywide plc (a)		6,402		633
Cranswick plc		19,204		682,270
Crest Nicholson Holdings plc		54,812		264,901
CYBG plc		106,674		275,919
Daejan Holdings plc		2,053		156,737
Daily Mail & General Trust plc - Class A		91,328		768,340
Dairy Crest Group plc		58,491		473,542
Dart Group plc		1,819		18,845
De La Rue plc		36,480		183,393
Debenhams plc (e)		426,182		14,977
Devro plc		61,396		157,303
DFS Furniture plc		21,089		68,841
Dialight plc (a)		5,140		30,209
Dialog Semiconductor plc (a)		23,576		719,228
Dignity plc		19,579		174,668
Diploma plc		39,240		746,645
DiscoverIE Group plc		17,866		91,647
Dixons Carphone plc		114,662		219,377
Domino’s Pizza Group plc		168,480		531,209
Drax Group plc		137,597		678,547
Dunelm Group plc		31,911		361,576
EI Group plc (a)		245,184		680,287
EKF Diagnostics Holdings plc (a)		33,004		13,731
Eland Oil & Gas plc (a)		7,992		13,112
Electrocomponents plc		146,785		1,076,791
Elementis plc		202,330		428,666
EMIS Group plc		6,475		88,709
EnQuest plc (a)		832,061		207,171
Equiniti Group plc		68,818		187,061
Essentra plc		78,989		425,023
Euromoney Institutional Investor plc		14,736		241,567
FDM Group Holdings plc		10,168		118,975
Fevertree Drinks plc		9,047		357,298
Findel plc (a)		17,439		35,919
Firstgroup plc (a)		412,049		488,076
Flex LNG, Ltd. (a)		3,724		48,121
Forterra plc		28,335		108,944
Foxtons Group plc		74,860		62,062
Fuller Smith & Turner plc - Class A		7,667		117,352
FW Thorpe plc		6,310		25,903
G4S plc		188,294		451,392
Galliford Try plc		49,848		434,557
Games Workshop Group plc		11,160		457,417
Gamma Communications plc		1,155		14,743
Gem Diamonds, Ltd.		44,142		52,568
Genel Energy plc (a)		6,470		16,958
Genus plc		3,398		98,185
Georgia Capital plc (a)		7,105		100,876
United Kingdom—(Continued)
Go-Ahead Group plc		15,826		404,725
Gocompare.Com Group plc		86,389		86,659
Gooch & Housego plc		2,212		37,462
Goodwin plc		188		6,615
Grafton Group plc		88,160		929,853
Grainger plc		148,363		457,078
Greene King plc		121,167		1,050,688
Greggs plc		34,690		831,133
Gulf Keystone Petroleum, Ltd. (a)		60,823		201,136
Gym Group plc (The)		41,701		118,419
Halfords Group plc		89,687		271,286
Hastings Group Holdings plc		50,925		144,080
Hays plc		461,035		901,349
Headlam Group plc		43,642		253,543
Helical plc		47,664		205,440
Henry Boot plc		8,542		28,382
Hill & Smith Holdings plc		29,060		470,408
Hilton Food Group plc		7,534		93,306
Hiscox, Ltd.		72,988		1,485,267
Hollywood Bowl Group plc		29,996		82,061
HomeServe plc		84,090		1,125,417
Horizon Discovery Group plc (a)		25,090		48,734
Howden Joinery Group plc		213,311		1,351,397
Hunting plc		52,837		411,241
Huntsworth plc		92,591		103,837
Hurricane Energy plc (a)		60,919		36,654
Ibstock plc		100,934		315,812
IDOX plc (a)		30,485		14,513
IG Group Holdings plc		127,101		861,035
IGas Energy plc (a)		18,467		18,436
IMI plc		81,384		1,019,195
Inchcape plc		161,511		1,204,586
Indivior plc (a)		173,858		218,567
Inmarsat plc		94,184		682,934
Intermediate Capital Group plc		83,030		1,155,615
International Personal Finance plc		79,366		201,158
Interserve plc (a) (b) (c) (d)		69,361		5,420
iomart Group plc		2,899		13,212
IP Group plc (a)		147,458		169,161
ITE Group plc		253,088		231,148
J.D. Wetherspoon plc		28,929		494,530
Jackpotjoy plc (a)		21,152		192,910
James Fisher & Sons plc		20,005		514,887
Jardine Lloyd Thompson Group plc		42,639		1,063,003
JD Sports Fashion plc		107,716		706,929
John Laing Group plc		24,944		123,687
John Menzies plc		26,664		169,458
John Wood Group plc		141,076		933,156
Johnson Service Group plc		27,564		49,929
Joules Group plc		3,224		12,094
Jupiter Fund Management plc		120,234		568,565
Just Group plc		10,076		8,038
Kainos Group plc		15,618		112,330
Kcom Group plc		172,562		158,077
Keller Group plc		25,571		206,108
Kier Group plc		50,507		239,384
Lancashire Holdings, Ltd.		70,812		603,903

BHFTII-93

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
Liontrust Asset Management plc		1,332	$	10,446
Lonmin plc (a)		12,029		11,443
Lookers plc		131,372		173,246
Low & Bonar plc		75,589		16,751
LSL Property Services plc		24,253		85,338
Luceco plc (a)		16,137		15,879
M&C Saatchi plc		3,407		16,693
Majestic Wine plc		6,853		19,902
Man Group plc		598,620		1,059,501
Marshalls plc		71,203		573,557
Marston’s plc		258,409		346,256
McBride plc		63,975		83,315
McCarthy & Stone plc		15,752		26,415
McColl’s Retail Group plc		12,767		12,068
Mears Group plc		41,542		137,811
Meggitt plc		199,705		1,309,387
Merlin Entertainments plc		197,248		882,632
Metro Bank plc (a)		2,816		27,903
Midwich Group plc		1,526		11,484
Millennium & Copthorne Hotels plc		54,328		322,985
Mitchells & Butlers plc (a)		70,418		248,447
Mitie Group plc		135,619		262,826
MJ Gleeson plc		12,062		126,402
Moneysupermarket.com Group plc		163,514		792,975
Morgan Advanced Materials plc		105,477		333,444
Morgan Sindall Group plc		17,569		286,835
Morses Club plc		6,380		14,300
Mortgage Advice Bureau Holdings, Ltd.		1,616		12,316
Mothercare plc (a)		102,238		29,908
Motorpoint group plc		14,323		33,580
N Brown Group plc		73,957		94,849
National Express Group plc		203,273		1,076,675
NCC Group plc		82,122		149,915
Next Fifteen Communications Group plc		1,952		14,290
Non-Standard Finance plc		79,101		56,470
Norcros plc		4,097		10,221
Northgate plc		48,315		235,266
On the Beach Group plc		36,264		207,187
OneSavings Bank plc		37,334		186,994
Ophir Energy plc (a)		165,965		122,995
Oxford Instruments plc		15,893		202,512
Pagegroup plc		105,272		646,032
Pan African Resources plc (a)		186,265		22,202
Paragon Banking Group plc		83,844		476,247
Park Group plc (a)		23,099		22,213
Parkmead Group plc (The) (a)		15,677		11,705
PayPoint plc		23,440		262,147
Pendragon plc		345,188		125,804
Pennon Group plc		142,268		1,378,378
Petrofac, Ltd.		76,214		485,966
Pets at Home Group plc		57,751		119,318
Phoenix Group Holdings plc		131,661		1,163,303
Photo-Me International plc		89,030		92,597
Playtech plc		58,243		330,091
Polar Capital Holdings plc		1,564		10,677
Polypipe Group plc		68,575		360,112
Porvair plc		8,570		61,449
United Kingdom—(Continued)
Premier Asset Management Group plc		4,232		12,353
Premier Foods plc (a) (e)		334,879		158,801
Premier Oil plc (a) (e)		245,706		301,400
Provident Financial plc		22,978		153,575
PZ Cussons plc		102,110		261,058
QinetiQ Group plc		183,469		720,976
Quilter plc		203,474		390,453
Rank Group plc		35,576		72,886
Rathbone Brothers plc		15,068		436,904
REA Holdings plc (a)		1,120		2,939
Redde plc		10,004		15,545
Redrow plc		98,104		770,030
Renew Holdings plc		3,253		17,058
Renewi plc		221,260		67,802
Renishaw plc		12,189		589,061
Renold plc (a)		64,766		22,652
Restaurant Group plc (The)		166,434		255,926
Revolution Bars Group plc		5,460		5,336
Ricardo plc		13,452		113,058
Rightmove plc		133,019		884,261
River & Mercantile Group plc		112		327
RM plc		43,283		135,643
Robert Walters plc		16,356		128,400
Rotork plc		262,065		966,107
Royal Mail plc		18,363		57,026
RPC Group plc		140,988		1,454,617
RPS Group plc		100,537		245,831
S&U plc		343		8,128
Saga plc		127,724		185,401
Savannah Petroleum plc (a)		60,736		19,901
Savills plc		62,765		740,532
Scapa Group plc		11,870		43,921
SDL plc		33,826		238,103
Secure Trust Bank plc		458		8,279
Senior plc		166,890		474,550
Severfield plc		100,890		90,389
SIG plc		252,797		468,714
Sirius Minerals plc (a) (e)		241,946		63,282
Smart Metering Systems plc		5,630		40,016
Soco International plc		50,968		45,658
Softcat plc		34,705		375,868
Spectris plc		40,479		1,326,182
Speedy Hire plc		205,988		145,386
Spire Healthcare Group plc		6,876		11,636
Spirent Communications plc		217,958		407,922
Sportech plc (a)		20,264		9,891
Sports Direct International plc (a)		32,908		125,300
SSP Group plc		138,890		1,252,852
St. Ives plc		66,431		79,652
St. Modwen Properties plc		86,555		447,868
Stagecoach Group plc		163,409		326,974
Stallergenes Greer plc (a)		922		37,758
SThree plc		37,574		131,544
Stobart Group, Ltd.		80,421		159,416
Stock Spirits Group plc		23,736		71,238
STV Group plc		7,121		34,688
Superdry plc		18,185		129,886

BHFTII-94

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
Synthomer plc		88,503	$	438,708
T. Clarke plc		15,381		24,091
TalkTalk Telecom Group plc (e)		165,840		238,349
Tate & Lyle plc		163,836		1,549,590
Ted Baker plc		9,974		202,652
Telecom Plus plc		21,709		430,100
Telit Communications plc (a)		33,381		69,887
Thomas Cook Group plc (a)		438,591		142,792
Topps Tiles plc		61,961		61,338
TP ICAP plc		203,445		779,859
Travis Perkins plc		72,545		1,299,572
Trifast plc		20,432		50,717
Trinity Mirror plc		157,693		127,595
TT electronics plc		79,682		225,461
U & I Group plc		54,856		133,750
Ultra Electronics Holdings plc		27,882		580,799
Urban & Civic plc		5,854		20,823
Vectura Group plc (a)		245,376		228,168
Vertu Motors plc		35,216		16,141
Vesuvius plc		95,731		740,268
Victrex plc		29,970		845,836
Vitec Group plc (The)		10,351		153,713
Volex plc (a)		20,438		24,360
Volution Group plc		23,180		51,171
Vp plc		4,147		56,733
Watkin Jones plc		4,237		12,171
Weir Group plc (The)		247		5,036
WH Smith plc		35,182		973,871
William Hill plc		315,264		660,735
Wincanton plc		44,811		138,082
Xaar plc		18,088		24,880
				101,047,162
United States—0.3%
Aeterna Zentaris, Inc. (a)		2,400		11,225
Alacer Gold Corp. (a)		102,778		279,181
Argonaut Gold, Inc. (a)		57,325		80,646
Burford Capital, Ltd.		7,950		174,684
Energy Fuels, Inc. (a)		19,715		65,355
Golden Star Resources, Ltd. (a)		28,192		113,920
Ormat Technologies, Inc. (c)		1		31
PureTech Health plc (a)		30,589		64,755
REC Silicon ASA (a) (e)		643,607		49,672
Reliance Worldwide Corp., Ltd.		109,748		336,536
Sims Metal Management, Ltd.		81,887		625,933
				1,801,938
Total Common Stocks (Cost $575,481,599)				617,304,407
Preferred Stocks—0.2%
Germany—0.2%
Biotest AG		4,477		114,008
Draegerwerk AG & Co. KGaA		2,309		109,407
FUCHS Petrolub SE		912		37,536
Germany—(Continued)
Jungheinrich AG		14,450		470,606
Sixt SE		4,402		299,743
Sto SE & Co. KGaA		190		17,321
Villeroy & Boch AG		505		8,771
Total Preferred Stocks (Cost $1,011,351)				1,057,392
Rights—0.0%
Australia—0.0%
Centrebet International, Ltd. (Litigation Units) (c)		9,600		0
Panoramic Resources, Ltd., Expires 04/09/19 (a) (c)		12,889		146
				146
Austria—0.0%
Intercell AG, Expires 05/16/13 (a) (b) (c) (d)		24,163		0
Canada—0.0%
Pan American Silver Corp., Expires 02/22/29 (c)		78,950		28,519
Hong Kong—0.0%
APAC Resources, Ltd., Expires 04/15/19 (c)		23,608		241
Fortune Oil CVR (b) (d)		575,627		0
				241
Italy—0.0%
d’Amico International Shipping S.A., Expires 04/16/19 (a) (c)		60,320		623
Singapore—0.0%
Keppel Infrastructure Trust, Expires 04/04/19 (c)		64,860		1,149
Spain—0.0%
Promotora de Informaciones S.A., Expires 04/06/19 (a) (c) (e)		87,762		6,891
Sweden—0.0%
AF POYRY AB, Expires 04/12/19 (a) (c)		19,518		39,887
United States—0.0%
Victory City International Holdings, Ltd., Expires 04/10/19 (c)		419,724		53
Total Rights (Cost $29,542)				77,509
Warrant—0.0%
Canada—0.0%
Tervita Corp., Expires 07/19/20 (a) (c)		733		69
Singapore—0.0%
Ezion Holdings, Ltd., Expires 04/16/23 (a) (c)		309,737		0
Total Warrants (Cost $1)				69

BHFTII-95

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investment—0.2%

Security Description	Principal Amount*		Value
Repurchase Agreement—0.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $1,501,025; collateralized by U.S. Treasury Notes with rates ranging from 2.000% - 2.125%, due 12/31/21, and an aggregate market value of $1,534,622.		1,500,875	$	1,500,875
Total Short-Term Investments (Cost $1,500,875)				1,500,875
Securities Lending Reinvestments (f)—2.7%
Certificate of Deposit—0.1%
Wells Fargo Bank N.A. 2.975%, 3M LIBOR + 0.210%, 10/25/19 (g)		500,000		500,000
Repurchase Agreements—2.2%
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $500,102; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $510,000.		500,000		500,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $400,093; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $408,000.		400,000		400,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $400,083; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $408,000.		400,000		400,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,721,277; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,755,334.		1,720,916		1,720,916
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $1,050,724; collateralized by various Common Stock with an aggregate market value of $1,100,001.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $302,311; collateralized by various Common Stock with an aggregate market value of $330,000.		300,000		300,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $604,755; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $642,813.		600,000		600,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $500,253; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $541,482.		500,000		500,000
Nomura Securities International, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $3,000,638; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 3.875%, maturity dates ranging from 04/11/19 - 11/15/48, and an aggregate market value of $3,060,000.		3,000,000		3,000,000
Societe Generale
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $1,020,219; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,112,202.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $1,596,160; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,729,314.		1,554,856		1,554,856
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $225,111; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $250,245.		225,000		225,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $600,296; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $667,321.		600,000		600,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $300,148; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $333,661.		300,000		300,000
				14,100,772
Time Deposits—0.4%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		500,000		500,000

BHFTII-96

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
DZ Bank AG New York 2.430%, 04/01/19		500,000	$	500,000
Natixis New York 2.400%, 04/01/19		500,000		500,000
Nordea Bank New York 2.350%, 04/01/19		500,000		500,000
Svenska, New York 2.360%, 04/01/19		500,000		500,000
				2,500,000
Total Securities Lending Reinvestments (Cost $17,100,771)				17,100,772
Total Investments—101.6% (Cost $595,124,139)				637,041,024
Other assets and liabilities (net)—(1.6)%				(10,232,000	)
Net Assets—100.0%			$	626,809,024

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent 0.1% of net assets.
(c)	Illiquid security. As of March 31, 2019, these securities represent 0.2% 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 March 31, 2019, the market value of securities loaned was $23,299,775 and the collateral received consisted of cash in the amount of $17,100,772 and non-cash collateral with a value of $7,702,047. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(f)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(g)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Ten Largest Industries as of March 31, 2019 (Unaudited)	% of Net Assets
Machinery		6.4
Real Estate Management & Development		5.1
Metals & Mining		4.7
Banks		3.7
Hotels, Restaurants & Leisure		3.7
Capital Markets		3.5
Food Products		3.3
Construction & Engineering		3.1
Electronic Equipment, Instruments & Components		3.1
Chemicals		3.0

Glossary of Abbreviations

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

(REIT)— Real Estate Investment Trust

BHFTII-97

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	565,415	$	42,140,684	$	54,778	$	42,760,877
Austria		—		7,825,667		0		7,825,667
Belgium		1,911,534		8,742,253		—		10,653,787
Canada		51,474,411		835,913		48,861		52,359,185
China		107,322		1,710,536		—		1,817,858
Colombia		26,071		—		—		26,071
Denmark		—		12,361,970		—		12,361,970
Faeroe Islands		—		10,380		—		10,380
Finland		—		14,992,598		—		14,992,598
France		—		25,139,648		—		25,139,648
Georgia		—		264,321		—		264,321
Germany		10,743		40,599,897		—		40,610,640
Ghana		—		1,529,126		—		1,529,126
Greenland		—		11,109		—		11,109
Guernsey, Channel Islands		—		61,019		—		61,019
Hong Kong		831,580		17,483,753		166,433		18,481,766
Ireland		—		1,774,898		—		1,774,898
Isle of Man		—		57,339		—		57,339
Israel		—		7,651,524		53,128		7,704,652
Italy		—		25,458,563		263		25,458,826
Japan		24,327		143,702,341		—		143,726,668
Jersey, Channel Islands		—		466,377		—		466,377
Jordan		—		501,232		—		501,232
Kazakhstan		—		360,569		—		360,569
Liechtenstein		—		318,971		—		318,971
Luxembourg		—		754,504		—		754,504
Macau		—		88,269		—		88,269
Malta		—		582,346		—		582,346
Monaco		274,927		—		—		274,927
Netherlands		—		18,361,964		0		18,361,964
New Zealand		—		4,953,507		—		4,953,507
Norway		155,277		5,405,732		—		5,561,009
Peru		—		229,672		—		229,672
Philippines		—		8,013		—		8,013
Portugal		—		2,548,001		0		2,548,001
Russia		—		90,287		—		90,287
Singapore		183,513		6,854,240		49,434		7,087,187
South Africa		7,597		80,256		—		87,853
Spain		—		15,222,899		0		15,222,899
Sweden		—		18,576,234		—		18,576,234
Switzerland		—		30,659,250		—		30,659,250

BHFTII-98

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy —(Continued)

Description	Level 1		Level 2			Level 3		Total
Turkey	$	—	$	16,561		$	—	$	16,561
United Arab Emirates		—		77,270			—		77,270
United Kingdom		2,939		101,038,803			5,420		101,047,162
United States		550,327		1,251,611			—		1,801,938
Total Common Stocks		56,125,983		560,800,107			378,317		617,304,407
Total Preferred Stocks*		—		1,057,392			—		1,057,392
Rights
Australia		146		0			—		146
Austria		—		—			0		0
Canada		—		28,519			—		28,519
Hong Kong		—		241			0		241
Italy		—		623			—		623
Singapore		—		1,149			—		1,149
Spain		6,891		—			—		6,891
Sweden		39,887		—			—		39,887
United States		—		53			—		53
Total Rights		46,924		30,585			0		77,509
Warrant
Canada		69		—			—		69
Singapore		—		0			—		0
Total Warrants		69		0			—		69
Total Short-Term Investment*		—		1,500,875			—		1,500,875
Total Securities Lending Reinvestments*		—		17,100,772			—		17,100,772
Total Investments	$	56,172,976	$	580,489,731		$	378,317	$	637,041,024
Collateral for Securities Loaned (Liability)	$	—	$	(17,100,772	)	$	—	$	(17,100,772	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

Transfers from Level 1 and Level 2 in the amount of $270,631 were due to trading halts on the securities’ respective exchanges which resulted in the lack of observable inputs.

BHFTII-99

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—60.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.3%
Boeing Co. (The)		25,202	$	9,612,547
Harris Corp.		26,458		4,225,607
Lockheed Martin Corp.		29,002		8,705,240
Raytheon Co.		29,408		5,354,609
				27,898,003
Airlines—0.2%
JetBlue Airways Corp. (a)		127,281		2,082,317
Banks—2.0%
Bank of America Corp.		762,489		21,037,072
SVB Financial Group (a)		13,223		2,940,266
				23,977,338
Beverages—1.3%
Coca-Cola Co. (The)		267,758		12,547,140
Monster Beverage Corp. (a)		58,104		3,171,316
				15,718,456
Biotechnology—1.0%
Alder Biopharmaceuticals, Inc. (a) (b)		11,100		151,515
Alnylam Pharmaceuticals, Inc. (a) (b)		3,611		337,448
Arcus Biosciences, Inc. (a)		11,888		148,481
Assembly Biosciences, Inc. (a) (b)		7,799		153,562
Audentes Therapeutics, Inc. (a) (b)		9,048		353,053
Biogen, Inc. (a)		2,841		671,556
Biohaven Pharmaceutical Holding Co., Ltd. (a)		29,543		1,520,578
Bluebird Bio, Inc. (a) (b)		6,215		977,806
Calithera Biosciences, Inc. (a)		14,741		99,354
Coherus Biosciences, Inc. (a) (b)		38,405		523,844
CytomX Therapeutics, Inc. (a)		14,000		150,500
Forty Seven, Inc. (a) (b)		25,145		406,343
G1 Therapeutics, Inc. (a)		11,651		193,407
Global Blood Therapeutics, Inc. (a) (b)		9,639		510,192
GlycoMimetics, Inc. (a) (b)		19,232		239,631
Heron Therapeutics, Inc. (a)		8,762		214,143
Incyte Corp. (a)		6,954		598,114
Ironwood Pharmaceuticals, Inc. (a) (b)		35,699		483,007
Jounce Therapeutics, Inc. (a)		8,043		49,867
Karyopharm Therapeutics, Inc. (a) (b)		29,147		170,219
Momenta Pharmaceuticals, Inc. (a) (b)		17,000		247,010
Neon Therapeutics, Inc. (a)		6,879		44,438
Ra Pharmaceuticals, Inc. (a)		20,912		468,429
Radius Health, Inc. (a)		12,031		239,898
Rigel Pharmaceuticals, Inc. (a)		41,463		106,560
Seattle Genetics, Inc. (a) (b)		16,178		1,184,877
Syndax Pharmaceuticals, Inc. (a)		26,685		140,096
Vertex Pharmaceuticals, Inc. (a)		6,966		1,281,396
				11,665,324
Capital Markets—1.7%
Blucora, Inc. (a)		112,761		3,763,962
FactSet Research Systems, Inc.		16,504		4,097,448
Hamilton Lane, Inc. - Class A		45,374		1,977,399
Northern Trust Corp.		27,717		2,505,894
Capital Markets—(Continued)
Raymond James Financial, Inc.		26,501		2,130,945
TD Ameritrade Holding Corp. (b)		137,420		6,869,626
				21,345,274
Chemicals—1.3%
Cabot Corp.		45,724		1,903,490
Celanese Corp. (b)		19,278		1,901,004
DowDuPont, Inc.		39,052		2,081,862
FMC Corp.		27,715		2,129,066
Linde plc		19,426		3,417,616
Livent Corp. (a)		25,921		318,310
PPG Industries, Inc.		33,903		3,826,632
				15,577,980
Commercial Services & Supplies—0.4%
Waste Management, Inc.		50,913		5,290,370
Construction & Engineering—0.1%
Dycom Industries, Inc. (a)		7,800		358,332
Granite Construction, Inc. (b)		16,259		701,576
				1,059,908
Construction Materials—0.1%
Martin Marietta Materials, Inc. (b)		828		166,577
Vulcan Materials Co.		5,584		661,146
				827,723
Consumer Finance—0.5%
American Express Co.		38,986		4,261,170
OneMain Holdings, Inc.		70,300		2,232,025
				6,493,195
Containers & Packaging—0.6%
Ardagh Group S.A.		46,000		598,000
Ball Corp.		76,575		4,430,630
International Paper Co.		52,334		2,421,494
				7,450,124
Diversified Consumer Services—0.1%
Houghton Mifflin Harcourt Co. (a)		93,311		678,371
Diversified Financial Services—0.4%
AXA Equitable Holdings, Inc.		86,908		1,750,327
Voya Financial, Inc.		65,214		3,258,092
				5,008,419
Diversified Telecommunication Services—1.1%
Verizon Communications, Inc.		234,446		13,862,792
Electric Utilities—1.5%
Avangrid, Inc.		56,587		2,849,155
Edison International		76,704		4,749,512
Exelon Corp.		93,499		4,687,105
NextEra Energy, Inc. (b)		27,455		5,307,601

BHFTII-100

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electric Utilities—(Continued)
PG&E Corp. (a)		47,685	$	848,793
				18,442,166
Electrical Equipment—0.2%
AMETEK, Inc.		30,589		2,537,969
Electronic Equipment, Instruments & Components—0.2%
Flex, Ltd. (a)		292,921		2,929,210
Energy Equipment & Services—0.4%
Baker Hughes a GE Co.		89,106		2,470,018
Halliburton Co.		84,964		2,489,445
				4,959,463
Entertainment—1.1%
Electronic Arts, Inc. (a)		36,071		3,665,896
Liberty Media Corp.-Liberty Formula One - Class C (a) (b)		46,935		1,645,072
Netflix, Inc. (a)		11,988		4,274,441
Spotify Technology S.A. (a)		4,603		638,896
Viacom, Inc. - Class B		18,952		531,983
Walt Disney Co. (The)		22,716		2,522,157
				13,278,445
Equity Real Estate Investment Trusts—2.1%
Alexandria Real Estate Equities, Inc.		27,486		3,918,404
American Tower Corp. (b)		57,910		11,411,745
Camden Property Trust		32,997		3,349,195
Equinix, Inc.		8,507		3,855,032
Public Storage		5,382		1,172,092
Simon Property Group, Inc.		14,486		2,639,494
				26,345,962
Food & Staples Retailing—0.3%
Performance Food Group Co. (a)		31,066		1,231,456
U.S. Foods Holding Corp. (a)		77,279		2,697,810
				3,929,266
Food Products—0.3%
Mondelez International, Inc. - Class A		65,849		3,287,182
Health Care Equipment & Supplies—2.8%
Abbott Laboratories		154,702		12,366,878
Baxter International, Inc.		41,477		3,372,495
Boston Scientific Corp. (a)		227,042		8,713,872
Danaher Corp.		41,869		5,527,545
NuVasive, Inc. (a)		64,182		3,644,896
Penumbra, Inc. (a) (b)		3,100		455,731
				34,081,417
Health Care Providers & Services—1.7%
Anthem, Inc.		31,924		9,161,549
HCA Healthcare, Inc.		27,470		3,581,539
UnitedHealth Group, Inc.		30,415		7,520,413
				20,263,501
Hotels, Restaurants & Leisure—1.4%
Hyatt Hotels Corp. - Class A		43,998		3,192,935
McDonald’s Corp.		65,486		12,435,792
MGM Resorts International		50,355		1,292,109
				16,920,836
Household Durables—0.2%
Installed Building Products, Inc. (a)		43,936		2,130,896
Household Products—0.9%
Procter & Gamble Co. (The)		107,568		11,192,450
Independent Power and Renewable Electricity Producers—0.3%
NRG Energy, Inc.		89,649		3,808,289
Industrial Conglomerates—0.5%
3M Co. (b)		14,350		2,981,643
General Electric Co.		264,913		2,646,481
				5,628,124
Insurance—2.6%
American International Group, Inc. (b)		101,489		4,370,116
Assurant, Inc.		37,273		3,537,580
Assured Guaranty, Ltd.		97,053		4,312,065
Athene Holding, Ltd. - Class A (a)		78,713		3,211,490
Hartford Financial Services Group, Inc. (The)		90,926		4,520,841
Marsh & McLennan Cos., Inc.		56,518		5,307,040
Progressive Corp. (The)		35,605		2,566,764
Prudential Financial, Inc.		27,912		2,564,555
Trupanion, Inc. (a) (b)		46,748		1,530,530
				31,920,981
Interactive Media & Services—3.1%
Alphabet, Inc. - Class A (a)		19,920		23,443,649
Facebook, Inc. - Class A (a)		89,959		14,995,265
				38,438,914
Internet & Direct Marketing Retail—3.7%
Amazon.com, Inc. (a)		18,886		33,631,244
Booking Holdings, Inc. (a)		1,890		3,297,880
Expedia Group, Inc.		39,396		4,688,124
Wayfair, Inc. - Class A (a) (b)		22,379		3,322,163
				44,939,411
IT Services—2.9%
FleetCor Technologies, Inc. (a)		17,619		4,344,669
Genpact, Ltd.		62,449		2,196,956
Global Payments, Inc.		47,144		6,436,099
GoDaddy, Inc. - Class A (a)		57,489		4,322,598
PayPal Holdings, Inc. (a) (b)		45,667		4,742,061
Total System Services, Inc.		13,265		1,260,308
Visa, Inc. - Class A		65,437		10,220,605
WEX, Inc. (a)		12,672		2,432,897
				35,956,193

BHFTII-101

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Life Sciences Tools & Services—0.7%
Thermo Fisher Scientific, Inc.		30,093	$	8,237,056
Machinery—1.0%
AGCO Corp.		6,104		424,533
Caterpillar, Inc. (b)		17,015		2,305,362
Deere & Co.		14,708		2,350,927
Fortive Corp.		12,786		1,072,618
Greenbrier Cos., Inc. (The)		19,126		616,431
Illinois Tool Works, Inc.		25,031		3,592,699
Ingersoll-Rand plc		22,074		2,382,888
				12,745,458
Marine—0.1%
Kirby Corp. (a)		9,727		730,595
Media—1.5%
Charter Communications, Inc. - Class A (a) (b)		14,635		5,077,028
Comcast Corp. - Class A		305,138		12,199,417
Fox Corp. - Class A (a)		10,140		372,239
New York Times Co. (The) - Class A (b)		21,657		711,433
				18,360,117
Metals & Mining—0.1%
Alcoa Corp. (a)		13,192		371,487
Carpenter Technology Corp.		8,602		394,402
Freeport-McMoRan, Inc.		22,659		292,074
Southern Copper Corp. (b)		5,391		213,915
Steel Dynamics, Inc.		14,222		501,610
				1,773,488
Multi-Utilities—0.6%
Sempra Energy (b)		57,210		7,200,451
Oil, Gas & Consumable Fuels—3.0%
Chevron Corp.		46,623		5,743,021
Concho Resources, Inc.		10,222		1,134,233
ConocoPhillips		2,090		139,487
Diamondback Energy, Inc.		9,861		1,001,187
Encana Corp.		160,104		1,159,153
EOG Resources, Inc.		1,377		131,063
Exxon Mobil Corp.		194,179		15,689,663
Kosmos Energy, Ltd.		100,401		625,498
Marathon Petroleum Corp.		61,830		3,700,526
Noble Energy, Inc. (b)		44,049		1,089,332
Occidental Petroleum Corp.		1,961		129,818
ONEOK, Inc.		26,518		1,852,017
Paragon Offshore Finance Co. - Class A (a) (c)		162		152
Paragon Offshore Finance Co. - Class B (a) (c)		81		2,977
Templar Energy LLC (a) (c) (d) (t)		2,426		0
TransCanada Corp. (b)		109,749		4,932,120
				37,330,247
Pharmaceuticals—2.9%
Aerie Pharmaceuticals, Inc. (a) (b)		13,052		619,970
Allergan plc		51,040		7,472,766
Amneal Pharmaceuticals, Inc. (a)		66,842		947,151
Pharmaceuticals—(Continued)
AstraZeneca plc (ADR)		180,432		7,294,866
Bristol-Myers Squibb Co. (b)		158,844		7,578,447
Dermira, Inc. (a)		71,099		963,392
Elanco Animal Health, Inc. (a)		18,132		581,493
Eli Lilly & Co.		5,119		664,241
Kala Pharmaceuticals, Inc. (a)		17,700		146,379
Medicines Co. (The) (a) (b)		6,600		184,470
Mylan NV (a)		105,149		2,979,923
MyoKardia, Inc. (a)		12,006		624,192
Nektar Therapeutics (a) (b)		32,680		1,098,048
Revance Therapeutics, Inc. (a)		27,646		435,701
Teva Pharmaceutical Industries, Ltd. (ADR) (a)		209,864		3,290,668
Tricida, Inc. (a)		16,500		637,230
				35,518,937
Professional Services—0.6%
Equifax, Inc.		9,139		1,082,972
IHS Markit, Ltd. (a)		72,509		3,943,039
TransUnion		19,163		1,280,855
TriNet Group, Inc. (a)		26,106		1,559,572
				7,866,438
Road & Rail—0.5%
J.B. Hunt Transport Services, Inc.		2,700		273,483
Norfolk Southern Corp.		27,335		5,108,638
Union Pacific Corp.		6,932		1,159,030
				6,541,151
Semiconductors & Semiconductor Equipment—2.3%
Advanced Micro Devices, Inc. (a)		156,796		4,001,434
Broadcom, Inc.		1,657		498,277
First Solar, Inc. (a) (b)		12,648		668,320
Intel Corp.		104,470		5,610,039
KLA-Tencor Corp.		12,751		1,522,597
Marvell Technology Group, Ltd.		214,446		4,265,331
Micron Technology, Inc. (a)		60,170		2,486,826
NVIDIA Corp. (b)		7,174		1,288,164
Teradyne, Inc.		24,238		965,642
Texas Instruments, Inc.		37,033		3,928,090
Xilinx, Inc.		19,965		2,531,362
				27,766,082
Software—4.3%
Adobe, Inc. (a)		9,329		2,486,085
Atlassian Corp. plc - Class A (a)		2,044		229,725
Autodesk, Inc. (a)		7,506		1,169,585
Ceridian HCM Holding, Inc. (a)		10,900		559,170
Guidewire Software, Inc. (a)		13,976		1,357,908
Microsoft Corp.		234,741		27,685,354
Salesforce.com, Inc. (a)		32,560		5,156,527
ServiceNow, Inc. (a)		6,344		1,563,733
Splunk, Inc. (a) (b)		5,893		734,268
SS&C Technologies Holdings, Inc.		130,541		8,314,156
SVMK, Inc. (a)		74,300		1,353,003
Workday, Inc. - Class A (a) (b)		13,467		2,597,111
				53,206,625

BHFTII-102

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Specialty Retail—1.2%
Lowe’s Cos., Inc.		43,185	$	4,727,462
National Vision Holdings, Inc. (a) (b)		88,127		2,769,832
Ross Stores, Inc.		19,426		1,808,560
TJX Cos., Inc. (The)		110,392		5,873,958
				15,179,812
Technology Hardware, Storage & Peripherals—1.1%
Apple, Inc.		58,506		11,113,215
Western Digital Corp.		42,751		2,054,613
				13,167,828
Textiles, Apparel & Luxury Goods—0.9%
NIKE, Inc. - Class B		69,720		5,871,121
Tapestry, Inc.		34,295		1,114,245
Under Armour, Inc. - Class A (a) (b)		78,779		1,665,388
Under Armour, Inc. - Class C (a)		107,963		2,037,262
				10,688,016
Thrifts & Mortgage Finance—0.1%
MGIC Investment Corp. (a) (b)		114,804		1,514,265
Tobacco—0.6%
Philip Morris International, Inc.		88,846		7,853,098
Trading Companies & Distributors—0.1%
Triton International, Ltd.		29,795		926,624
Total Common Stocks (Cost $640,731,065)				746,532,557
U.S. Treasury & Government Agencies—18.1%
Agency Sponsored Mortgage - Backed—14.4%
Fannie Mae 15 Yr. Pool 3.000%, 07/01/28		1,362,587		1,377,325
3.000%, 02/01/31		171,878		173,524
3.000%, TBA (e)		5,253,000		5,300,887
3.500%, 07/01/28		200,004		205,104
3.500%, TBA (e)		715,000		731,425
4.000%, 04/01/26		33,710		34,897
4.000%, 02/01/29		792,643		816,581
4.500%, 06/01/24		173,012		178,138
4.500%, 02/01/25		40,449		41,605
4.500%, 04/01/25		6,814		7,009
4.500%, 07/01/25		34,897		35,897
4.500%, 06/01/26		738,025		759,107
5.000%, TBA (e)		500,000		510,919
Fannie Mae 20 Yr. Pool 3.000%, 03/01/37		838,448		846,923
Fannie Mae 30 Yr. Pool 3.000%, 02/01/43		701,239		701,822
3.000%, 03/01/43		910,248		911,004
3.000%, 04/01/43		841,571		842,271
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
3.000%, 05/01/43		2,294,953		2,297,448
3.000%, 06/01/43		270,547		270,772
3.000%, 04/01/47		8,348,645		8,323,265
3.500%, 03/01/43		46,659		47,667
3.500%, 05/01/43		84,532		86,266
3.500%, 07/01/43		213,585		218,129
3.500%, 08/01/43		384,880		393,047
3.500%, 10/01/44		367,871		376,237
3.500%, 02/01/45		447,233		455,160
3.500%, 09/01/46		855,129		869,241
3.500%, 10/01/46		367,622		373,702
3.500%, 11/01/46		247,667		253,214
3.500%, 09/01/47		340,614		346,465
3.500%, 12/01/47		188,606		191,924
3.500%, 01/01/48		1,329,252		1,350,144
3.500%, 02/01/48		274,804		279,872
3.500%, TBA (e)		7,942,000		8,052,133
4.000%, 10/01/40		762,254		790,607
4.000%, 11/01/40		350,027		363,053
4.000%, 12/01/40		252,540		261,958
4.000%, 02/01/41		121,806		126,425
4.000%, 03/01/41		288,709		299,478
4.000%, 08/01/42		157,955		163,846
4.000%, 09/01/42		250,921		260,279
4.000%, 03/01/45		43,340		44,822
4.000%, 07/01/45		223,317		233,089
4.000%, 05/01/46		123,890		128,081
4.000%, 06/01/46		296,389		306,455
4.000%, 04/01/47		316,261		330,394
4.000%, 07/01/48		2,577,475		2,657,465
4.000%, 09/01/48		965,981		995,355
4.000%, 02/01/49		1,295,652		1,337,348
4.500%, 10/01/40		692,504		732,156
4.500%, 09/01/41		85,394		90,156
4.500%, 10/01/41		302,059		319,347
4.500%, 08/01/42		106,801		112,520
4.500%, 09/01/43		1,692,594		1,783,993
4.500%, 10/01/43		212,191		223,239
4.500%, 12/01/43		167,691		176,677
4.500%, 01/01/44		527,159		557,819
5.000%, 04/01/33		2,842		3,042
5.000%, 07/01/33		9,261		9,956
5.000%, 09/01/33		148,997		160,312
5.000%, 11/01/33		38,714		41,660
5.000%, 12/01/33		15,601		16,786
5.000%, 02/01/34		7,000		7,532
5.000%, 03/01/34		3,311		3,562
5.000%, 04/01/34		3,143		3,382
5.000%, 06/01/34		3,276		3,523
5.000%, 07/01/34		45,293		48,731
5.000%, 10/01/34		112,834		121,402
5.000%, 07/01/35		79,256		85,279
5.000%, 10/01/35		87,450		94,103
5.000%, 12/01/35		68,854		74,077

BHFTII-103

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.000%, 08/01/36		63,049	$	67,822
5.000%, 07/01/37		34,685		37,325
5.000%, 07/01/41		61,276		65,706
5.000%, 08/01/41		32,344		34,892
5.500%, 08/01/28		24,017		25,633
5.500%, 04/01/33		41,343		45,084
5.500%, 08/01/37		244,893		269,422
5.500%, 04/01/41		20,858		22,530
6.000%, 03/01/28		1,847		1,991
6.000%, 05/01/28		2,505		2,700
6.000%, 02/01/34		168,187		185,618
6.000%, 08/01/34		89,617		98,907
6.000%, 04/01/35		757,751		836,180
6.000%, 02/01/38		59,957		66,089
6.000%, 03/01/38		18,514		20,443
6.000%, 05/01/38		61,209		67,590
6.000%, 10/01/38		18,162		20,055
6.000%, 12/01/38		21,855		24,106
6.000%, TBA (e)		1,000,000		1,078,546
6.500%, 05/01/40		430,705		492,669
Fannie Mae ARM Pool 4.366%, 12M LIBOR + 1.750%, 03/01/41 (f)		47,144		48,874
4.469%, 12M LIBOR + 1.819%, 09/01/41 (f)		70,333		73,360
4.578%, 12M LIBOR + 1.774%, 06/01/41 (f)		122,528		127,447
4.680%, 12M LIBOR + 1.804%, 12/01/40 (f)		62,590		65,384
4.688%, 12M LIBOR + 1.820%, 03/01/41 (f)		13,918		14,593
Fannie Mae Connecticut Avenue Securities (CMO) 3.206%, 1M LIBOR + 0.720%, 01/25/31 (f)		768,089		767,897
6.036%, 1M LIBOR + 3.550%, 07/25/29 (f)		390,000		418,935
6.836%, 1M LIBOR + 4.350%, 05/25/29 (f)		780,142		854,188
7.386%, 1M LIBOR + 4.900%, 11/25/24 (f)		267,362		300,091
8.186%, 1M LIBOR + 5.700%, 04/25/28 (f)		145,722		166,737
8.486%, 1M LIBOR + 6.000%, 09/25/28 (f)		127,975		145,831
Fannie Mae Interest Strip (CMO) 2.000%, 09/25/39		399,062		379,521
4.000%, 05/25/27 (g)		289,472		25,006
Fannie Mae Pool 2.390%, 09/01/28		125,000		120,701
2.430%, 08/01/26		200,000		196,468
3.025%, 11/01/29		400,000		399,501
3.240%, 12/01/26		80,744		83,346
3.410%, 08/01/27		473,669		493,095
3.500%, 09/01/57		2,088,917		2,114,089
3.500%, 05/01/58		1,234,833		1,249,713
3.630%, 03/01/29		470,000		495,589
3.800%, 02/01/29		1,330,000		1,420,942
3.890%, 05/01/30		99,599		106,373
3.960%, 05/01/34		41,813		45,191
4.000%, 06/01/41		922,797		957,198
4.500%, 01/01/51		1,702,854		1,786,280
Fannie Mae REMICS (CMO) Zero Coupon, 06/25/36 (c) (h)		223,745		193,311
Zero Coupon, 03/25/36 (h)		27,038		22,641
1.518%, 05/25/46 (c) (f) (g)		685,389		33,293
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae REMICS (CMO)
1.618%, 04/25/55 (f) (g)		669,297		34,930
1.655%, 06/25/55 (c) (f) (g)		544,107		29,082
1.670%, 08/25/44 (c) (f) (g)		614,516		32,357
1.750%, 12/25/42		529,787		512,522
2.000%, 08/25/43		257,587		244,797
2.500%, 06/25/28 (c) (g)		166,046		11,936
3.000%, 02/25/27 (c) (g)		428,389		29,203
3.000%, 09/25/27 (c)		152,392		12,430
3.000%, 01/25/28 (c)		1,016,806		79,300
3.000%, 05/25/47		424,474		425,805
3.000%, 09/25/47		1,369,848		1,367,774
3.000%, 06/25/48		1,261,964		1,258,258
3.000%, 10/25/48		1,032,289		1,028,760
3.500%, 05/25/27 (c) (g)		429,497		39,767
3.500%, 10/25/27 (c)		264,347		23,957
3.500%, 05/25/30 (c) (g)		281,010		31,842
3.500%, 08/25/30 (c) (g)		87,081		8,300
3.500%, 02/25/31 (c) (g)		207,368		16,746
3.500%, 09/25/35 (c) (g)		182,470		26,143
3.500%, 04/25/46		145,632		146,608
3.500%, 10/25/46 (c) (g)		163,227		32,478
3.500%, 11/25/47		1,124,259		1,158,024
3.500%, 02/25/48		346,010		353,449
3.500%, 04/25/48		736,686		770,815
3.500%, 12/25/58		1,344,136		1,368,486
4.000%, 03/25/42 (c) (g)		124,950		16,600
4.000%, 05/25/42 (c) (g)		771,971		103,933
4.000%, 11/25/42 (c) (g)		68,860		10,148
4.500%, 07/25/27 (c) (g)		134,626		12,379
5.466%, 05/25/42 (f) (g)		69,362		7,280
5.500%, 04/25/35 (c)		320,536		359,477
5.500%, 04/25/37		121,603		134,822
5.500%, 09/25/44 (c) (g)		547,376		123,549
5.500%, 06/25/48 (c)		585,149		119,620
6.000%, 01/25/42 (c) (g)		564,581		98,443
6.000%, 09/25/47 (c) (g)		369,811		87,235
Fannie Mae-ACES (CMO) 2.209%, 01/25/22 (f) (g)		1,003,804		28,869
3.090%, 02/25/30 (f)		635,000		633,555
3.329%, 10/25/23 (f)		486,972		500,441
Freddie Mac 15 Yr. Gold Pool 3.000%, 07/01/28		557,705		565,098
3.000%, 08/01/29		337,367		341,828
3.000%, 04/01/33		1,010,249		1,020,275
3.500%, TBA (e)		1,200,000		1,228,781
Freddie Mac 20 Yr. Gold Pool 3.000%, 11/01/36		1,163,873		1,172,569
3.000%, 01/01/37		844,389		850,698
3.500%, 08/01/34		743,907		765,277
5.000%, 03/01/27		68,984		72,997
5.000%, 02/01/28		183,849		194,543
5.000%, 03/01/28		94,955		100,478
5.000%, 05/01/28		349,976		370,333
5.000%, 05/01/30		342,209		362,435

BHFTII-104

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool 3.000%, 12/01/44		17,676	$	17,672
3.000%, 08/01/46		1,655,741		1,651,210
3.000%, 10/01/46		1,676,533		1,671,946
3.000%, 11/01/46		2,547,056		2,540,441
3.000%, 12/01/46		804,775		802,377
3.000%, 01/01/47		913,220		909,603
3.500%, 08/01/42		115,248		118,196
3.500%, 11/01/42		169,518		173,272
3.500%, 06/01/46		270,373		275,115
3.500%, 10/01/47		1,266,283		1,286,935
3.500%, 03/01/48		651,978		666,038
3.500%, TBA (e)		7,490,000		7,598,254
4.000%, 05/01/42		761,879		790,900
4.000%, 08/01/42		198,361		205,926
4.000%, 09/01/42		281,875		292,625
4.000%, 07/01/44		66,655		69,031
4.000%, 02/01/46		299,770		309,654
4.000%, 09/01/48		192,707		198,897
4.000%, TBA (e)		17,255,000		17,764,225
4.500%, 09/01/43		115,490		121,166
4.500%, 11/01/43		961,608		1,008,866
4.500%, TBA (e)		7,780,000		8,119,767
5.000%, 03/01/38		64,633		69,666
5.000%, 05/01/39		7,176		7,754
5.000%, 06/01/41		388,950		420,190
5.000%, TBA (e)		580,000		614,154
5.500%, 07/01/33		111,161		120,310
5.500%, 04/01/39		44,472		48,675
5.500%, 06/01/41		165,931		181,907
Freddie Mac ARM Non-Gold Pool 5.025%, 12M LIBOR + 1.900%, 02/01/41 (f)		76,969		80,372
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
0.608%, 03/25/27 (f) (g)		4,365,227		182,030
1.440%, 06/25/22 (f) (g)		1,775,551		69,665
1.623%, 03/25/22 (f) (g)		1,295,670		52,852
1.850%, 05/25/19 (f) (g)		949,486		97
Freddie Mac REMICS (CMO)
Zero Coupon, 11/15/36 (h)		24,973		22,364
1.750%, 10/15/42		476,152		455,715
2.500%, 05/15/28 (g)		178,414		13,298
3.000%, 03/15/28 (c) (g)		502,360		36,672
3.000%, 05/15/32 (g)		229,959		15,113
3.000%, 03/15/33 (c) (g)		171,920		20,074
3.000%, 08/15/43		1,056,000		1,044,224
3.000%, 05/15/46		539,851		540,435
3.250%, 11/15/41		276,120		278,980
3.500%, 06/15/26 (c) (g)		253,651		14,433
3.500%, 09/15/26 (g)		91,798		7,744
3.500%, 03/15/27 (g)		152,006		12,302
3.500%, 03/15/41 (c) (g)		63,515		7,179
4.000%, 07/15/27 (c) (g)		580,893		49,101
4.000%, 03/15/28 (g)		277,554		23,400
4.000%, 06/15/28 (g)		149,904		13,171
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac REMICS (CMO)
4.000%, 07/15/30 (g)		395,643		40,223
4.750%, 07/15/39		468,225		507,138
5.000%, 09/15/33 (g)		225,541		40,836
5.500%, 08/15/33		58,328		64,084
5.500%, 07/15/36		126,953		140,141
5.500%, 06/15/46		168,378		186,945
6.500%, 07/15/36		170,799		189,966
FREMF Mortgage Trust (CMO)
3.042%, 10/25/47 (144A) (f)		770,000		768,836
5.279%, 09/25/43 (144A) (f)		855,000		875,362
Ginnie Mae I 30 Yr. Pool 3.000%, 12/15/44	24,411		24,581
3.000%, 02/15/45		70,273		70,674
3.000%, 04/15/45		908,855		914,040
3.000%, 05/15/45		1,062,014		1,068,050
3.000%, 07/15/45		30,807		30,982
4.000%, 09/15/42		796,544		827,608
4.500%, 04/15/41		556,598		585,685
4.500%, 02/15/42		1,219,133		1,283,058
5.000%, 12/15/38		41,834		44,935
5.000%, 04/15/39		803,532		863,161
5.000%, 07/15/39		75,782		81,338
5.000%, 12/15/40		112,736		121,023
5.500%, 12/15/40		414,066		455,116
Ginnie Mae II 30 Yr. Pool
3.500%, 08/20/47		351,145		359,201
3.500%, TBA (e)		7,043,000		7,198,166
4.000%, 11/20/47		279,580		290,290
4.000%, 03/20/48		1,048,506		1,085,383
4.000%, TBA (e)		11,087,000		11,451,225
4.000%, 04/20/49		1,300,000		1,343,613
4.500%, 01/20/46		122,977		129,384
4.500%, 09/20/48		2,083,420		2,164,607
4.500%, TBA (e)		150,000		155,768
5.000%, 10/20/39		18,842		20,154
5.000%, 02/20/49		1,246,875		1,308,720
5.000%, TBA (e)		270,000		282,060
Government National Mortgage Association (CMO)
0.780%, 02/16/53 (f) (g)		1,983,747		95,769
1.750%, 09/20/43		86,160		83,701
2.000%, 01/20/42		432,685		419,019
2.500%, 12/16/39		381,171		379,412
2.500%, 07/20/41		628,329		622,319
3.000%, 09/20/28 (g)		192,591		15,590
3.000%, 02/16/43 (g)		123,969		18,875
3.000%, 03/20/47		160,712		147,843
3.500%, 02/16/27 (g)		79,763		6,775
3.500%, 03/20/27 (g)		200,326		18,534
3.500%, 10/20/29 (g)		1,091,062		120,922
3.500%, 07/20/40 (g)		202,021		19,626
3.500%, 02/20/41 (g)		287,405		30,107
3.500%, 04/20/42 (g)		500,140		51,885
3.500%, 10/20/42 (g)		759,419		131,783

BHFTII-105

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association (CMO)
3.500%, 05/20/43 (c) (g)		106,809	$	16,590
3.500%, 07/20/43 (c) (g)		400,509		57,079
3.500%, 01/20/46		508,000		520,829
4.000%, 12/16/26 (g)		54,394		4,776
4.000%, 05/20/29 (g)		831,180		79,138
4.000%, 05/16/42 (c) (g)		87,272		13,821
4.000%, 03/20/43 (g)		141,711		29,998
4.000%, 01/20/44 (c) (g)		64,565		13,928
4.000%, 11/20/44 (c) (g)		1,053,326		171,486
4.000%, 03/20/47 (g)		517,702		86,823
4.000%, 07/20/47 (g)		783,037		132,572
4.500%, 04/20/45 (c) (g)		227,435		52,862
5.000%, 02/16/40 (g)		598,697		135,666
5.000%, 10/16/41 (c) (g)		324,452		52,151
5.000%, 01/16/47 (g)		146,099		31,705
5.500%, 03/20/39 (c) (g)		424,357		93,870
5.500%, 02/16/47 (g)		406,204		89,773
5.500%, 02/20/47 (g)		252,142		54,029
6.000%, 09/20/40 (g)		452,998		106,653
6.000%, 02/20/46 (g)		387,192		87,057
				175,480,680
U.S. Treasury—3.7%
U.S. Treasury Bonds
2.250%, 08/15/46		915,000		817,853
2.875%, 11/15/46 (i)		1,600,000		1,623,500
3.000%, 11/15/45 (i) (j)		1,980,000		2,059,664
3.000%, 02/15/47 (j)		1,500,000		1,560,176
3.000%, 02/15/48 (j)		2,840,000		2,945,502
3.000%, 08/15/48 (b)		950,000		985,699
3.125%, 08/15/44		10,095,000		10,724,754
3.125%, 05/15/48 (b)		1,880,000		1,998,161
3.750%, 11/15/43 (j)		4,200,000		4,934,180
U.S. Treasury Inflation Indexed Notes
0.250%, 01/15/25 (j) (k) (l)		8,525,801		8,438,296
0.750%, 07/15/28 (b) (k)		2,875,772		2,941,373
0.875%, 01/15/29 (k)		2,472,089		2,552,928
U.S. Treasury Notes 2.875%, 08/15/28		3,675,000		3,822,287
				45,404,373
Total U.S. Treasury & Government Agencies (Cost $220,491,103)				220,885,053
Corporate Bonds & Notes—12.1%
Aerospace/Defense—0.2%
Lockheed Martin Corp. 4.090%, 09/15/52		300,000		305,185
United Technologies Corp.
2.800%, 05/04/24		25,000		24,699
3.650%, 08/16/23		1,050,000		1,078,022
3.950%, 08/16/25		345,000		358,542
Aerospace/Defense—(Continued)
United Technologies Corp.
4.625%, 11/16/48		90,000		95,703
				1,862,151
Agriculture—0.5%
Altria Group, Inc.
2.625%, 09/16/26		140,000		129,325
2.850%, 08/09/22		815,000		813,351
3.800%, 02/14/24		175,000		178,209
3.875%, 09/16/46		190,000		156,292
4.400%, 02/14/26		190,000		195,695
4.800%, 02/14/29		375,000		386,957
5.800%, 02/14/39 (b)		940,000		995,523
5.950%, 02/14/49		815,000		874,426
BAT Capital Corp.
3.222%, 08/15/24		380,000		371,762
3.557%, 08/15/27		680,000		644,388
4.390%, 08/15/37		720,000		650,159
Imperial Brands Finance plc 3.750%, 07/21/22 (144A)		310,000		314,224
				5,710,311
Airlines—0.0%
Delta Air Lines, Inc.
3.625%, 03/15/22		185,000		186,270
3.800%, 04/19/23		250,000		252,736
				439,006
Apparel—0.0%
William Carter Co. (The) 5.625%, 03/15/27 (144A)		50,000		51,687
Auto Manufacturers—0.3%
Daimler Canada Finance, Inc. 3.145%, 3M CDOR + 0.830%, 07/08/19 (CAD) (c) (f)		635,000		473,859
Ford Motor Co.
4.750%, 01/15/43		130,000		102,032
5.291%, 12/08/46		140,000		117,427
Ford Motor Credit Co. LLC 3.815%, 11/02/27 (b)		200,000		174,299
General Motors Co.
5.950%, 04/01/49		175,000		169,540
6.250%, 10/02/43		195,000		195,136
6.750%, 04/01/46		250,000		260,669
General Motors Financial Co., Inc.
3.700%, 05/09/23		300,000		298,539
3.950%, 04/13/24		165,000		163,384
4.064%, 3M LIBOR + 1.270%, 10/04/19 (f)		100,000		100,316
4.347%, 3M LIBOR + 1.560%, 01/15/20 (b) (f)		200,000		201,303
Toyota Motor Credit Corp. 2.833%, 3M LIBOR + 0.140%, 11/14/19 (f)		100,000		100,090
Volkswagen Group of America Finance LLC 3.875%, 11/13/20 (144A)		705,000		713,766

BHFTII-106

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—(Continued)
VW Credit Canada, Inc. 2.500%, 10/01/19 (CAD)		410,000	$	306,999
				3,377,359
Auto Parts & Equipment—0.0%
Goodyear Tire & Rubber Co. (The) 5.000%, 05/31/26 (b)		60,000		57,210
Banks—3.4%
Banco Bilbao Vizcaya Argentaria S.A.
6.125%, 5Y USD Swap + 3.870%, 11/16/27 (f)		1,200,000		1,071,000
8.875%, -1 x 5Y EUR Swap + 9.177%, 04/14/21 (EUR) (f)		200,000		246,676
Banco de Sabadell S.A.
6.125%, 5Y EUR Swap + 6.051%, 11/23/22 (EUR) (f)		200,000		207,759
6.500%, 5Y EUR Swap + 6.414%, 05/18/22 (EUR) (f)		600,000		638,500
Bank of America Corp.
3.124%, 3M LIBOR + 1.160%, 01/20/23 (f)		260,000		260,830
3.366%, 3M LIBOR + 0.810%, 01/23/26 (f)		1,255,000		1,256,721
3.419%, 3M LIBOR + 1.040%, 12/20/28 (f)		118,000		115,493
3.705%, 3M LIBOR + 1.512%, 04/24/28 (f)		1,045,000		1,050,581
3.974%, 3M LIBOR + 1.210%, 02/07/30 (b) (f)		405,000		413,206
4.000%, 04/01/24		133,000		138,476
4.000%, 01/22/25		595,000		607,594
4.125%, 01/22/24		265,000		277,703
7.750%, 05/14/38		630,000		875,926
Bank of China Hong Kong, Ltd. 5.550%, 02/11/20		100,000		101,936
Bank of Nova Scotia (The) 3.219%, 3M LIBOR + 0.620%, 12/05/19 (f)		175,000		175,586
Barclays Bank plc 2.650%, 01/11/21		200,000		198,557
BNP Paribas S.A.
3.375%, 01/09/25 (144A)		615,000		602,200
4.400%, 08/14/28 (144A) (b)		405,000		417,088
5.125%, 5Y USD Swap + 2.838%, 11/15/27 (144A) (f)		325,000		284,375
7.625%, 5Y USD Swap + 6.314%, 03/30/21 (144A) (f)		390,000		409,012
BPCE S.A. 3.000%, 05/22/22 (144A)		255,000		252,297
CaixaBank S.A. 6.750%, 5Y EUR Swap + 6.498%, 06/13/24 (EUR) (f)		200,000		233,005
Citigroup, Inc.
3.200%, 10/21/26		660,000		646,959
3.520%, 3M LIBOR + 1.151%, 10/27/28 (f)		230,000		226,237
3.573%, 3M LIBOR + 0.790%, 01/10/20 (f)		200,000		200,757
3.783%, 3M LIBOR + 1.100%, 05/17/24 (f)		680,000		682,961
3.980%, 3M LIBOR + 1.338%, 03/20/30 (f)		1,175,000		1,195,730
4.075%, 3M LIBOR + 1.192%, 04/23/29 (f)		165,000		169,324
4.450%, 09/29/27		215,000		221,172
4.650%, 07/30/45		9,000		9,590
4.750%, 05/18/46		228,000		235,835
Credit Agricole S.A. 8.125%, 5Y USD Swap + 6.185%, 12/23/25 (144A) (f)		725,000		814,285
Credit Suisse Group AG
6.250%, 5Y USD Swap + 3.455%, 12/18/24 (144A) (f)		1,320,000		1,315,969
7.500%, 5Y USD Swap + 4.600%, 07/17/23 (144A) (f)		200,000		205,750
Banks—(Continued)
Danske Bank A/S
5.000%, 01/12/22 (144A)		655,000		670,793
5.375%, 01/12/24 (144A)		900,000		936,388
5.875%, 5Y EUR Swap + 5.471%, 04/06/22 (EUR) (f)		200,000		228,586
Deutsche Bank AG 2.850%, 05/10/19		100,000		99,952
Goldman Sachs Group, Inc. (The)
2.876%, 3M LIBOR + 0.821%, 10/31/22 (f)		255,000		252,905
2.905%, 3M LIBOR + 0.990%, 07/24/23 (f)		1,085,000		1,073,283
3.408%, 3M LIBOR + 0.800%, 12/13/19 (f)		100,000		100,389
3.814%, 3M LIBOR + 1.158%, 04/23/29 (f)		735,000		728,633
4.017%, 3M LIBOR + 1.373%, 10/31/38 (f)		410,000		393,152
4.223%, 3M LIBOR + 1.301%, 05/01/29 (f)		45,000		46,051
6.250%, 02/01/41		430,000		534,660
6.750%, 10/01/37		410,000		501,897
HSBC Bank Canada 2.491%, 05/13/19 (CAD)		470,000		351,922
HSBC Holdings plc
2.950%, 05/25/21		255,000		254,960
3.400%, 03/08/21		565,000		570,078
4.583%, 3M LIBOR + 1.534%, 06/19/29 (f)		260,000		273,608
6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (f)		575,000		570,112
6.250%, 5Y USD ICE Swap + 3.453%, 03/23/23 (f)		450,000		449,437
Industrial & Commercial Bank of China, Ltd. 3.421%, 3M LIBOR + 0.770%, 05/23/20 (f)		250,000		250,316
Intesa Sanpaolo S.p.A.
3.375%, 01/12/23 (144A)		215,000		209,943
7.700%, 5Y USD Swap + 5.462%, 09/17/25 (144A) (b) (f)		650,000		614,250
7.750%, 5Y EUR Swap + 7.192%, 01/11/27 (EUR) (f)		400,000		486,268
JPMorgan Chase & Co.
3.220%, 3M LIBOR + 1.155%, 03/01/25 (f)		550,000		550,874
3.509%, 3M LIBOR + 0.945%, 01/23/29 (f)		525,000		522,049
3.797%, 3M LIBOR + 0.890%, 07/23/24 (f)		435,000		446,862
3.960%, 3M LIBOR + 1.245%, 01/29/27 (f)		1,475,000		1,525,662
4.005%, 3M LIBOR + 1.120%, 04/23/29 (f)		410,000		421,514
4.009%, 3M LIBOR + 1.230%, 10/24/23 (f)		155,000		157,331
Landsbanki Islands Zero Coupon, 08/25/20 (c) (d) (m) (t)		320,000		0
Morgan Stanley
2.500%, 04/21/21		680,000		675,998
2.750%, 05/19/22		295,000		293,313
3.125%, 07/27/26		180,000		175,458
3.512%, 3M LIBOR + 0.740%, 07/23/19 (f)		100,000		100,208
3.591%, 3M LIBOR + 1.340%, 07/22/28 (f)		1,010,000		1,003,249
3.625%, 01/20/27		685,000		686,653
3.905%, 3M LIBOR + 1.140%, 01/27/20 (f)		50,000		50,324
4.000%, 07/23/25		280,000		288,370
4.350%, 09/08/26		95,000		97,541
5.000%, 11/24/25		322,000		345,372
Santander Holdings USA, Inc. 3.700%, 03/28/22		365,000		369,026
Societe Generale S.A.
7.375%, 5Y USD Swap + 6.238%, 09/13/21 (144A) (f)		650,000		670,312
7.875%, 5Y USD Swap + 4.979%, 12/18/23 (144A) (f)		200,000		207,750
Standard Chartered plc 7.500%, 5Y USD Swap + 6.301%, 04/02/22 (f)		400,000		417,000

BHFTII-107

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
UBS AG 2.450%, 12/01/20 (144A)		265,000	$	263,500
UBS Group Funding Switzerland AG
2.650%, 02/01/22 (144A)		420,000		416,359
5.750%, 5Y EUR Swap + 5.287%, 02/19/22 (EUR) (f)		250,000		305,641
6.875%, 5Y USD ICE Swap + 5.497%, 03/22/21 (f)		450,000		460,824
7.000%, 5Y USD Swap + 4.866%, 02/19/25 (f)		200,000		210,750
7.125%, 5Y USD Swap + 5.464%, 02/19/20 (f)		270,000		273,010
UniCredit S.p.A.
5.375%, 5Y EUR Swap + 4.925%, 06/03/25 (EUR) (f)		200,000		192,380
6.572%, 01/14/22 (144A)		605,000		633,897
6.625%, 5Y EUR Swap + 6.387%, 06/03/23 (EUR) (f)		575,000		626,788
Wells Fargo & Co.
2.625%, 07/22/22		595,000		590,786
3.000%, 04/22/26		310,000		303,167
3.000%, 10/23/26		200,000		195,249
3.069%, 01/24/23		960,000		961,651
3.584%, 3M LIBOR + 1.310%, 05/22/28 (f)		505,000		507,583
3.750%, 01/24/24		645,000		663,992
4.900%, 11/17/45		290,000		309,393
				41,276,509
Beverages—0.4%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 4.700%, 02/01/36 (144A)		50,000		50,020
Anheuser-Busch InBev Worldwide, Inc.
3.750%, 07/15/42		426,000		368,112
4.150%, 01/23/25		360,000		375,341
4.600%, 04/15/48		265,000		255,402
4.750%, 01/23/29		280,000		298,151
4.750%, 04/15/58		440,000		420,198
5.450%, 01/23/39		1,995,000		2,160,916
Constellation Brands, Inc.
2.650%, 11/07/22		260,000		256,781
3.600%, 02/15/28		250,000		244,868
4.400%, 11/15/25		300,000		315,167
4.750%, 12/01/25		433,000		461,914
				5,206,870
Biotechnology—0.0%
Amgen, Inc. 2.650%, 05/11/22		295,000		294,120
Baxalta, Inc. 3.600%, 06/23/22		17,000		17,093
Gilead Sciences, Inc. 3.250%, 09/01/22		135,000		137,564
				448,777
Building Materials—0.0%
Standard Industries, Inc.
5.000%, 02/15/27 (144A)		10,000		9,678
6.000%, 10/15/25 (144A)		220,000		230,360
				240,038
Chemicals—0.3%
Chemours Co. (The) 5.375%, 05/15/27		60,000		59,606
DowDuPont, Inc.
4.205%, 11/15/23		785,000		821,226
4.725%, 11/15/28		760,000		820,799
Methanex Corp.
4.250%, 12/01/24		325,000		324,626
5.650%, 12/01/44		120,000		114,633
Nutrien, Ltd. 4.200%, 04/01/29		100,000		102,829
Olin Corp. 5.125%, 09/15/27 (b)		60,000		60,675
SABIC Capital II B.V. 4.000%, 10/10/23 (144A)		360,000		367,200
Sherwin-Williams Co. (The) 3.450%, 06/01/27		395,000		388,406
Syngenta Finance NV
4.892%, 04/24/25 (144A)		385,000		392,306
5.182%, 04/24/28 (144A)		725,000		737,450
Versum Materials, Inc. 5.500%, 09/30/24 (144A)		60,000		63,075
				4,252,831
Commercial Services—0.2%
Acwa Power Management & Investments One, Ltd. 5.950%, 12/15/39 (144A)		1,269,000		1,278,517
IHS Markit, Ltd. 4.125%, 08/01/23		1,195,000		1,218,709
United Rentals North America, Inc.
4.875%, 01/15/28		65,000		63,226
5.500%, 07/15/25		110,000		112,475
				2,672,927
Computers—0.1%
Apple, Inc. 3.450%, 02/09/45		215,000		205,063
Hewlett Packard Enterprise Co. 6.350%, 10/15/45 (b)		50,000		52,452
IBM Credit LLC 3.099%, 3M LIBOR + 0.470%, 11/30/20 (f)		515,000		517,003
Western Digital Corp. 4.750%, 02/15/26 (b)		565,000		538,869
				1,313,387
Distribution/Wholesale—0.0%
HD Supply, Inc. 5.375%, 10/15/26 (144A)		50,000		51,000
Diversified Financial Services—0.3%
American Express Co. 3.400%, 02/27/23		500,000		507,832
Capital One Financial Corp.
3.458%, 3M LIBOR + 0.760%, 05/12/20 (f)		255,000		256,099
3.900%, 01/29/24		390,000		398,721

BHFTII-108

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
GE Capital Australia Funding Pty, Ltd. 5.000%, 09/26/19 (AUD)		140,000	$	100,118
GE Capital Canada Funding Co. 5.680%, 09/10/19 (CAD)		235,000		178,332
GE Capital UK Funding Unlimited Co. 4.375%, 07/31/19 (GBP)		150,000		197,051
GTP Acquisition Partners I LLC 3.482%, 06/16/25 (144A)		1,355,000		1,368,888
Navient Corp. 5.875%, 03/25/21		20,000		20,650
Wells Fargo Canada Corp. 2.944%, 07/25/19 (CAD)		420,000		315,219
				3,342,910
Electric—0.6%
AES Corp.
4.000%, 03/15/21		75,000		76,006
4.500%, 03/15/23		45,000		45,450
4.875%, 05/15/23		20,000		20,275
5.125%, 09/01/27		10,000		10,402
Berkshire Hathaway Energy Co. 3.250%, 04/15/28		245,000		243,645
DTE Energy Co. 1.500%, 10/01/19		250,000		248,229
Duke Energy Carolinas LLC 4.250%, 12/15/41		275,000		291,990
Duke Energy Florida LLC 3.400%, 10/01/46		305,000		283,071
Duke Energy Progress LLC 4.375%, 03/30/44		320,000		345,828
Exelon Corp.
2.450%, 04/15/21		80,000		79,085
2.850%, 06/15/20		480,000		479,525
3.950%, 06/15/25		585,000		605,915
Fortis, Inc. 2.100%, 10/04/21		135,000		132,078
Georgia Power Co. 2.000%, 09/08/20		848,000		840,259
IPALCO Enterprises, Inc. 3.700%, 09/01/24		335,000		337,266
NextEra Energy Capital Holdings, Inc. 3.150%, 04/01/24		590,000		592,942
Oncor Electric Delivery Co. LLC 5.750%, 03/15/29		110,000		131,527
Pacific Gas & Electric Co.
2.950%, 03/01/26		165,000		144,375
3.300%, 12/01/27		965,000		841,963
3.500%, 06/15/25		145,000		129,050
6.050%, 03/01/34		560,000		555,800
Sempra Energy 2.400%, 02/01/20		325,000		323,537
South Carolina Electric & Gas Co. 4.250%, 08/15/28		140,000		151,167
Electric—(Continued)
Southern Co. (The)
2.950%, 07/01/23		130,000		129,660
3.250%, 07/01/26		335,000		328,695
				7,367,740
Electronics—0.0%
Fortive Corp. 2.350%, 06/15/21		205,000		202,852
Sensata Technologies B.V. 5.000%, 10/01/25 (144A)		120,000		123,000
				325,852
Engineering & Construction—0.1%
Fluor Corp. 4.250%, 09/15/28		505,000		505,482
Heathrow Funding, Ltd. 4.000%, 07/03/19 (144A) (CAD) (n)		425,000		319,414
International Airport Finance S.A. 12.000%, 03/15/33 (144A)		940,000		1,002,040
				1,826,936
Entertainment—0.0%
WMG Acquisition Corp.
4.875%, 11/01/24 (144A)		120,000		121,500
5.000%, 08/01/23 (144A)		40,000		40,700
				162,200
Food—0.2%
Conagra Brands, Inc.
3.511%, 3M LIBOR + 0.750%, 10/22/20 (f)		155,000		154,812
3.800%, 10/22/21		100,000		101,856
4.300%, 05/01/24		500,000		518,178
4.600%, 11/01/25		55,000		57,872
5.300%, 11/01/38		85,000		86,361
Kraft Heinz Foods Co.
3.000%, 06/01/26		485,000		453,462
4.375%, 06/01/46		40,000		34,754
4.625%, 01/30/29		570,000		586,885
TreeHouse Foods, Inc. 6.000%, 02/15/24 (144A) (b)		60,000		62,250
				2,056,430
Food Service—0.0%
Aramark Services, Inc. 5.000%, 02/01/28 (144A) (b)		200,000		199,176
Forest Products & Paper—0.1%
Suzano Austria GmbH 6.000%, 01/15/29 (144A)		545,000		580,539
Gas—0.0%
AmeriGas Partners L.P. / AmeriGas Finance Corp. 5.875%, 08/20/26		95,000		94,881

BHFTII-109

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—0.2%
Becton Dickinson & Co.
3.363%, 06/06/24		925,000	$	926,133
3.700%, 06/06/27		355,000		354,005
Boston Scientific Corp. 4.000%, 03/01/28		505,000		519,602
Thermo Fisher Scientific, Inc. 3.000%, 04/15/23		180,000		180,477
				1,980,217
Healthcare-Services—0.2%
Aetna, Inc. 2.800%, 06/15/23		155,000		152,282
Anthem, Inc.
3.500%, 08/15/24		430,000		435,613
3.650%, 12/01/27		140,000		139,790
4.625%, 05/15/42		170,000		175,750
CHS/Community Health Systems, Inc.
5.125%, 08/01/21 (b)		110,000		108,141
6.250%, 03/31/23		30,000		28,163
Cigna Corp. 2.965%, 3M LIBOR + 0.350%, 03/17/20 (144A) (f)		200,000		199,821
Tenet Healthcare Corp. 6.000%, 10/01/20		75,000		77,625
UnitedHealth Group, Inc.
3.500%, 06/15/23		280,000		288,660
3.700%, 12/15/25		200,000		207,616
3.750%, 07/15/25		240,000		250,684
4.250%, 04/15/47		65,000		68,070
4.750%, 07/15/45		70,000		79,243
				2,211,458
Home Builders—0.0%
Lennar Corp. 4.750%, 11/29/27		125,000		125,058
PulteGroup, Inc. 5.500%, 03/01/26		60,000		61,950
Toll Brothers Finance Corp. 4.875%, 11/15/25		130,000		130,813
				317,821
Insurance—0.1%
CNO Financial Group, Inc. 5.250%, 05/30/25		175,000		181,125
Genworth Holdings, Inc. 4.900%, 08/15/23		90,000		75,825
Marsh & McLennan Cos., Inc.
3.875%, 03/15/24 (b)		330,000		342,550
4.375%, 03/15/29		205,000		217,191
4.750%, 03/15/39		245,000		265,539
Massachusetts Mutual Life Insurance Co. 8.875%, 06/01/39 (144A)		52,000		81,859
MGIC Investment Corp. 5.750%, 08/15/23		90,000		95,063
Willis North America, Inc. 3.600%, 05/15/24		210,000		211,451
				1,470,603

Security Description	Principal Amount*		Value
Internet—0.2%
Alibaba Group Holding, Ltd.
3.400%, 12/06/27		810,000	$	795,871
4.200%, 12/06/47		200,000		196,086
Amazon.com, Inc.
2.800%, 08/22/24		155,000		155,330
3.875%, 08/22/37 (b)		555,000		579,709
Tencent Holdings, Ltd.
2.985%, 01/19/23 (144A)		530,000		527,909
3.595%, 01/19/28 (144A)		250,000		246,884
				2,501,789
Iron/Steel—0.1%
ArcelorMittal 6.125%, 06/01/25 (b)		110,000		121,998
Commercial Metals Co. 5.375%, 07/15/27		60,000		57,750
Steel Dynamics, Inc. 5.500%, 10/01/24		65,000		67,112
Vale Overseas, Ltd.
6.250%, 08/10/26		985,000		1,070,695
6.875%, 11/10/39		75,000		85,875
				1,403,430
Leisure Time—0.0%
VOC Escrow, Ltd. 5.000%, 02/15/28 (144A)		30,000		29,175
Lodging—0.0%
Hilton Domestic Operating Co., Inc. 5.125%, 05/01/26 (144A)		100,000		101,500
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.
5.250%, 05/15/27 (144A)		10,000		9,462
5.500%, 03/01/25 (144A)		20,000		19,750
				130,712
Machinery-Construction & Mining—0.0%
BWX Technologies, Inc. 5.375%, 07/15/26 (144A)		30,000		30,450
Oshkosh Corp. 5.375%, 03/01/25		75,000		76,969
				107,419
Media—0.8%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125%, 05/01/27 (144A)		15,000		15,094
Charter Communications Operating LLC / Charter Communications Operating Capital Corp.
4.464%, 07/23/22		655,000		677,887
4.908%, 07/23/25		145,000		152,903
5.750%, 04/01/48 (b)		650,000		680,453
6.484%, 10/23/45		690,000		774,187
Comcast Corp.
2.350%, 01/15/27		65,000		60,760
3.150%, 03/01/26		405,000		403,256

BHFTII-110

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Comcast Corp.
3.200%, 07/15/36		100,000	$	90,927
3.950%, 10/15/25		210,000		219,715
4.049%, 11/01/52		45,000		43,643
4.150%, 10/15/28 (b)		190,000		200,316
4.250%, 10/15/30		135,000		143,581
4.600%, 10/15/38		240,000		257,311
4.950%, 10/15/58		195,000		215,488
COX Communications, Inc. 3.150%, 08/15/24 (144A)		868,000		864,558
Discovery Communications LLC 3.800%, 03/13/24		284,000		286,453
3.950%, 06/15/25		217,000		218,832
4.900%, 03/11/26 (b)		190,000		200,628
5.000%, 09/20/37		265,000		258,015
6.350%, 06/01/40		420,000		461,569
DISH DBS Corp. 5.875%, 11/15/24 (b)		130,000		109,200
Fox Corp. 4.030%, 01/25/24 (144A)		575,000		596,666
Liberty Interactive LLC 8.250%, 02/01/30		115,000		117,300
Time Warner Cable LLC 4.500%, 09/15/42		400,000		350,908
Time Warner, Inc. 3.875%, 01/15/26		70,000		70,289
Viacom, Inc. 4.250%, 09/01/23		830,000		863,245
4.375%, 03/15/43		168,000		150,747
5.875%, 3M LIBOR + 3.895%, 02/28/57 (f)		10,000		9,700
6.250%, 3M LIBOR + 3.899%, 02/28/57 (f)		15,000		15,038
Videotron, Ltd. 5.375%, 06/15/24 (144A)		145,000		151,344
Warner Media LLC 2.950%, 07/15/26		70,000		66,305
3.800%, 02/15/27		520,000		517,334
				9,243,652
Mining—0.1%
Anglo American Capital plc 4.750%, 04/10/27 (144A)		200,000		203,976
4.875%, 05/14/25 (144A)		520,000		541,233
Kaiser Aluminum Corp. 5.875%, 05/15/24		140,000		143,850
				889,059
Miscellaneous Manufacturing—0.0%
Ingersoll-Rand Global Holding Co., Ltd. 2.900%, 02/21/21		210,000		210,371
Oil & Gas—0.6%
Anadarko Petroleum Corp. 4.500%, 07/15/44		75,000		70,799

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Antero Resources Corp. 5.625%, 06/01/23		60,000	$	60,825
Canadian Natural Resources, Ltd. 2.600%, 12/03/19 (CAD)		310,000		232,430
3.050%, 06/19/19 (CAD)		405,000		303,598
3.850%, 06/01/27		715,000		716,281
Cimarex Energy Co. 4.375%, 03/15/29		670,000		689,975
Continental Resources, Inc. 4.900%, 06/01/44		10,000		10,178
5.000%, 09/15/22		44,000		44,329
Encana Corp. 3.900%, 11/15/21		250,000		254,576
Hess Corp. 4.300%, 04/01/27		740,000		733,497
6.000%, 01/15/40		10,000		10,427
7.125%, 03/15/33		552,000		640,192
7.300%, 08/15/31		190,000		221,830
Kerr-McGee Corp. 6.950%, 07/01/24		400,000		459,971
Marathon Oil Corp. 3.850%, 06/01/25		130,000		131,687
Marathon Petroleum Corp. 3.800%, 04/01/28 (144A) (b)		190,000		188,287
MEG Energy Corp. 6.500%, 01/15/25 (144A)		65,000		64,025
Noble Energy, Inc. 5.050%, 11/15/44		490,000		487,667
Petroleos Mexicanos 2.500%, 04/10/19 (CHF)		100,000		100,477
6.000%, 03/05/20		50,000		51,148
6.750%, 09/21/47		351,000		322,934
8.000%, 05/03/19		150,000		150,450
QEP Resources, Inc. 5.250%, 05/01/23		80,000		75,400
SM Energy Co. 6.125%, 11/15/22		55,000		55,000
6.750%, 09/15/26 (b)		15,000		14,381
Sunoco LP / Sunoco Finance Corp. 5.500%, 02/15/26		60,000		59,400
Tullow Oil plc 7.000%, 03/01/25 (144A)		500,000		502,975
Valero Energy Corp. 3.400%, 09/15/26		350,000		342,707
4.000%, 04/01/29		145,000		145,957
WPX Energy, Inc. 5.250%, 09/15/24		125,000		126,250
YPF S.A. 16.500%, 05/09/22 (144A) (ARS) (n)		19,392,845		290,692
				7,558,345
Packaging & Containers—0.2%
Klabin Austria GmbH 5.750%, 04/03/29 (144A)		1,430,000		1,422,349
Owens-Brockway Glass Container, Inc. 5.875%, 08/15/23 (144A)		150,000		157,110

BHFTII-111

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Packaging & Containers—(Continued)
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC 5.125%, 07/15/23 (144A)		75,000	$	76,219
WRKCo, Inc. 4.650%, 03/15/26		540,000		573,219
				2,228,897
Pharmaceuticals—0.6%
Allergan Funding SCS 3.450%, 03/15/22		245,000		247,142
Bausch Health Cos., Inc. 7.000%, 03/15/24 (144A)		30,000		31,740
Bayer U.S. Finance LLC 4.250%, 12/15/25 (144A)		850,000		859,683
Cardinal Health, Inc.
2.616%, 06/15/22		440,000		434,412
Cigna Corp.
4.125%, 11/15/25 (144A)		230,000		238,125
4.375%, 10/15/28 (144A)		1,685,000		1,746,456
CVS Health Corp.
3.875%, 07/20/25		324,000		328,096
4.100%, 03/25/25		815,000		837,222
5.050%, 03/25/48		345,000		347,737
5.125%, 07/20/45		315,000		321,231
GlaxoSmithKline Capital, Inc.
3.625%, 05/15/25		620,000		641,804
Mylan NV
5.250%, 06/15/46		145,000		130,694
Mylan, Inc.
4.550%, 04/15/28		240,000		233,539
5.200%, 04/15/48		125,000		113,215
Shire Acquisitions Investments Ireland DAC
2.400%, 09/23/21		355,000		350,949
Teva Pharmaceutical Finance Netherlands III B.V.
2.800%, 07/21/23		650,000		580,164
Valeant Pharmaceuticals International, Inc.
6.500%, 03/15/22 (144A)		65,000		67,275
				7,509,484
Pipelines—0.5%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp.
4.250%, 12/01/27		400,000		402,973
6.250%, 10/15/22		41,000		42,127
DCP Midstream Operating L.P.
3.875%, 03/15/23		20,000		19,900
4.950%, 04/01/22		26,000		26,618
5.600%, 04/01/44		50,000		47,500
Energy Transfer Operating L.P.
4.200%, 09/15/23		70,000		72,381
4.500%, 04/15/24		235,000		245,527
5.250%, 04/15/29		700,000		751,822
5.500%, 06/01/27		120,000		130,215
6.250%, 04/15/49		85,000		95,268
Energy Transfer Partners L.P.
5.950%, 10/01/43		20,000		21,125

Security Description	Principal Amount*		Value
Pipelines—(Continued)
EQM Midstream Partners L.P.
4.125%, 12/01/26		247,000	$	230,661
EQT Midstream Partners L.P.
4.750%, 07/15/23		40,000		40,814
5.500%, 07/15/28		270,000		272,975
MPLX L.P.
4.000%, 03/15/28		180,000		178,961
4.125%, 03/01/27		340,000		342,418
4.700%, 04/15/48		105,000		100,715
5.200%, 03/01/47		65,000		66,070
Panhandle Eastern Pipe Line Co. L.P.
8.125%, 06/01/19		41,000		41,298
Sabine Pass Liquefaction LLC
4.200%, 03/15/28		50,000		50,453
Sunoco Logistics Partners Operations L.P.
4.000%, 10/01/27		220,000		218,368
5.300%, 04/01/44		35,000		34,356
5.350%, 05/15/45		35,000		34,290
Texas Eastern Transmission L.P. 2.800%, 10/15/22 (144A)		420,000		414,007
3.500%, 01/15/28 (144A)		100,000		97,778
TransCanada PipeLines, Ltd. 4.750%, 05/15/38		130,000		136,267
6.100%, 06/01/40		40,000		47,354
Transcontinental Gas Pipe Line Co. LLC 4.000%, 03/15/28		105,000		107,241
Valero Energy Partners L.P. 4.500%, 03/15/28		425,000		439,984
Western Gas Partners L.P. 4.500%, 03/01/28		485,000		481,385
4.750%, 08/15/28		260,000		264,161
5.500%, 08/15/48		25,000		24,438
Williams Partners L.P. 4.300%, 03/04/24		105,000		109,214
				5,588,664
Real Estate Investment Trusts—0.1%
Crown Castle International Corp. 3.150%, 07/15/23		195,000		194,902
3.200%, 09/01/24		80,000		79,434
Equinix, Inc. 5.875%, 01/15/26		135,000		142,216
GLP Capital L.P. / GLP Financing II, Inc. 5.300%, 01/15/29		290,000		304,552
5.375%, 04/15/26		60,000		62,694
				783,798
Retail—0.2%
Dollar Tree, Inc. 3.473%, 3M LIBOR + 0.700%, 04/17/20 (f)		90,000		90,020
Lowe’s Cos., Inc. 3.375%, 09/15/25		700,000		703,477
3.700%, 04/15/46		60,000		53,218
McDonald’s Corp. 3.350%, 04/01/23		380,000		387,973

BHFTII-112

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Retail—(Continued)
Suburban Propane Partners L.P. / Suburban Energy Finance Corp. 5.875%, 03/01/27		75,000	$	71,063
Walmart, Inc. 3.400%, 06/26/23 (b)		660,000		680,705
				1,986,456
Semiconductors—0.5%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.125%, 01/15/25		300,000		287,714
3.625%, 01/15/24		935,000		933,074
3.875%, 01/15/27		1,185,000		1,132,843
Broadcom, Inc.
3.125%, 04/15/21 (144A)		1,170,000		1,169,743
Entegris, Inc. 4.625%, 02/10/26 (144A)		56,000		55,440
Intel Corp. 4.100%, 05/19/46		185,000		195,884
Microchip Technology, Inc. 4.333%, 06/01/23 (144A)		355,000		362,842
Micron Technology, Inc. 4.975%, 02/06/26		1,155,000		1,176,755
NXP B.V. / NXP Funding LLC 4.875%, 03/01/24 (144A)		1,175,000		1,239,883
Qorvo, Inc. 5.500%, 07/15/26 (144A)		55,000		56,793
				6,610,971
Software—0.1%
CDK Global, Inc. 5.875%, 06/15/26		5,000		5,225
Fidelity National Information Services, Inc. 4.250%, 05/15/28		180,000		185,236
First Data Corp. 5.000%, 01/15/24 (144A)		40,000		40,960
5.375%, 08/15/23 (144A)		90,000		91,969
Microsoft Corp. 3.700%, 08/08/46		195,000		199,626
3.950%, 08/08/56		290,000		302,874
MSCI, Inc. 5.250%, 11/15/24 (144A)		75,000		77,610
5.750%, 08/15/25 (144A)		65,000		68,250
Open Text Corp. 5.875%, 06/01/26 (144A)		115,000		120,175
Oracle Corp. 4.000%, 11/15/47 (b)		180,000		181,208
Quintiles IMS, Inc. 4.875%, 05/15/23 (144A)		95,000		96,672
				1,369,805
Telecommunications—0.8%
AT&T, Inc. 3.437%, 3M LIBOR + 0.650%, 01/15/20 (f)		155,000		155,526
4.100%, 02/15/28		260,000		262,767
4.250%, 03/01/27		150,000		154,395

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
AT&T, Inc.
4.300%, 02/15/30		676,000	$	684,692
4.350%, 03/01/29 (b)		535,000		546,733
5.150%, 03/15/42		164,000		168,032
Nokia Oyj 4.375%, 06/12/27		260,000		257,400
6.625%, 05/15/39		110,000		117,425
Sprint Communications, Inc. 7.000%, 03/01/20 (144A)		90,000		92,363
Sprint Corp. 7.125%, 06/15/24		100,000		101,500
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 5.152%, 03/20/28 (144A)		1,140,000		1,165,650
Telecom Italia Capital S.A. 6.000%, 09/30/34		45,000		41,625
7.721%, 06/04/38		50,000		51,750
Telecom Italia S.p.A. 5.303%, 05/30/24 (144A)		725,000		728,625
Telefonica Celular del Paraguay S.A.
5.875%, 04/15/27 (144A)		530,000		538,612
Telefonica Emisiones S.A.U. 4.665%, 03/06/38		150,000		143,380
4.895%, 03/06/48		335,000		326,425
5.520%, 03/01/49 (b)		515,000		539,754
Verizon Communications, Inc. 3.213%, 3M LIBOR + 0.550%, 05/22/20 (b) (f)		155,000		155,652
3.875%, 02/08/29		215,000		221,040
4.400%, 11/01/34		535,000		557,321
4.500%, 08/10/33		775,000		820,682
5.012%, 08/21/54		213,000		228,290
5.250%, 03/16/37		210,000		236,786
Vodafone Group plc 4.375%, 05/30/28		815,000		829,154
7.000%, 5Y USD ICE Swap + 4.873%, 04/04/79 (f)		835,000		848,709
				9,974,288
Transportation—0.1%
CSX Corp. 3.250%, 06/01/27		620,000		612,526
Union Pacific Corp. 4.375%, 09/10/38		660,000		688,486
				1,301,012
Trucking & Leasing—0.0%
DAE Funding LLC 4.500%, 08/01/22 (144A)		15,000		15,131
5.000%, 08/01/24 (144A)		15,000		15,188
				30,319
Total Corporate Bonds & Notes (Cost $147,582,916)				148,354,472

BHFTII-113

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—7.3%

Security Description	Principal Amount*		Value
Asset-Backed - Automobile—0.2%
CIG Auto Receivables Trust 2.710%, 05/15/23 (144A)		124,589	$	124,321
Credit Acceptance Auto Loan Trust 2.650%, 06/15/26 (144A)		545,000		543,245
Skopos Auto Receivables Trust 3.190%, 09/15/21 (144A) (n)		374,707		374,713
Westlake Automobile Receivables Trust 3.280%, 12/15/22 (144A)		1,015,000		1,015,109
				2,057,388
Asset-Backed - Home Equity—0.2%
GSAA Home Equity Trust 2.536%, 1M LIBOR + 0.050%, 12/25/46 (c) (f)		83,135		54,994
2.586%, 1M LIBOR + 0.100%, 03/25/37 (c) (f)		892,440		422,633
2.726%, 1M LIBOR + 0.240%, 11/25/36 (c) (f)		257,301		143,592
2.786%, 1M LIBOR + 0.300%, 03/25/36 (c) (f)		921,458		659,021
5.985%, 06/25/36 (c) (f)		546,763		249,290
Morgan Stanley ABS Capital I, Inc. Trust 2.636%, 1M LIBOR + 0.150%, 06/25/36 (c) (f)		12,370		10,036
Renaissance Home Equity Loan Trust 6.120%, 11/25/36 (c) (o)		249,767		145,284
Soundview Home Loan Trust 2.736%, 1M LIBOR + 0.250%, 11/25/36 (c) (f)		485,000		449,160
				2,134,010
Asset-Backed - Other—6.9%
AMMC CLO, Ltd. 4.021%, 3M LIBOR + 1.250%, 07/25/29 (144A) (f)		1,340,000		1,337,260
Anchorage Capital CLO, Ltd. 4.297%, 3M LIBOR + 1.510%, 01/15/29 (144A) (f)		760,744		760,835
Apex Credit CLO, Ltd. 4.249%, 3M LIBOR + 1.470%, 04/24/29 (144A) (f)		1,315,000		1,314,603
Apidos CLO 3.741%, 3M LIBOR + 0.980%, 01/19/25 (144A) (f)		241,324		241,163
Atlas Senior Loan Fund, Ltd. 3.631%, 3M LIBOR + 0.870%, 04/20/28 (144A) (f)		1,375,000		1,363,499
Avant Loans Funding Trust 3.420%, 01/18/22 (144A) (n)		911,443		912,464
Avery Point CLO, Ltd. 3.871%, 3M LIBOR + 1.100%, 04/25/26 (144A) (f)		1,006,348		1,005,199
3.900%, 3M LIBOR + 1.120%, 01/18/25 (144A) (f)		528,200		528,332
Babson CLO, Ltd. 3.911%, 3M LIBOR + 1.150%, 07/20/25 (144A) (f)		231,103		230,712
Bain Capital Credit CLO, Ltd. 4.011%, 3M LIBOR + 1.250%, 07/20/30 (144A) (f)		815,000		810,036
Bayview Opportunity Master Fund Trust 3.500%, 01/28/55 (144A) (f)		570,223		571,947
3.500%, 06/28/57 (144A)		668,207		670,321
3.500%, 07/28/57 (144A) (f)		1,291,553		1,297,661
3.500%, 10/28/57 (144A) (f)		1,251,222		1,258,215
3.500%, 01/28/58 (144A) (f)		871,694		874,362
4.000%, 11/28/53 (144A) (f)		504,193		512,353
4.000%, 10/28/64 (144A) (f)		965,207		980,412
Benefit Street Partners CLO, Ltd. 3.580%, 3M LIBOR + 0.800%, 10/18/29 (144A) (f)		93,750		93,703
4.037%, 3M LIBOR + 1.250%, 07/15/29 (144A) (f)		320,000		319,840

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Carlyle Global Market Strategies CLO, Ltd. 3.545%, 3M LIBOR + 0.780%, 04/27/27 (144A) (f)		1,425,000	$	1,417,788
CBAM, Ltd. 4.003%, 3M LIBOR + 1.230%, 10/17/29 (144A) (f)		1,665,000		1,663,655
Cent CLO, Ltd. 3.915%, 3M LIBOR + 1.150%, 07/27/30 (144A) (f)		930,000		921,385
CIFC Funding, Ltd. 3.629%, 3M LIBOR + 0.850%, 07/16/30 (144A) (f)		192,757		192,842
3.829%, 3M LIBOR + 0.780%, 04/24/30 (144A) (f)		1,580,000		1,565,296
Cirrus Funding, Ltd. 4.800%, 01/25/37 (144A)		940,000		978,512
CLUB Credit Trust 2.610%, 01/15/24 (144A) (n)		336,420		335,012
Covenant Credit Partners CLO, Ltd. 4.637%, 3M LIBOR + 1.850%, 10/15/29 (144A) (f)		445,000		444,872
Domino’s Pizza Master Issuer LLC 4.116%, 07/25/48 (144A) (n)		694,750		705,220
Dryden Senior Loan Fund 3.504%, 3M LIBOR + 0.820%, 11/15/28 (144A) (f)		745,000		736,204
3.587%, 3M LIBOR + 0.800%, 07/15/30 (144A) (f)		411,000		410,794
3.687%, 3M LIBOR + 0.900%, 04/15/29 (144A) (f)		1,470,000		1,455,538
3.990%, 3M LIBOR + 1.210%, 07/18/30 (144A) (f)		1,280,000		1,277,087
Finance America Mortgage Loan Trust 3.536%, 1M LIBOR + 1.050%, 09/25/33 (c) (f)		69,205		67,858
Flatiron CLO, Ltd. 3.934%, 3M LIBOR + 1.250%, 05/15/30 (144A) (f)		810,000		808,544
Fremont Home Loan Trust 3.536%, 1M LIBOR + 1.050%, 12/25/33 (c) (f)		65,781		64,741
GMACM Home Equity Loan Trust 2.986%, 1M LIBOR + 0.500%, 10/25/34 (144A) (f)		35,591		35,226
KKR CLO, Ltd. 4.127%, 3M LIBOR + 1.340%, 04/15/29 (144A) (f)		1,260,000		1,260,009
KKR Financial CLO, Ltd. 4.077%, 3M LIBOR + 1.290%, 04/15/29 (144A) (f)		565,000		562,078
Knollwood CDO, Ltd. 4.355%, 3M LIBOR + 3.200%, 01/10/39 (144A) (d) (f) (t)		669,360		0
LCM, Ltd. 3.801%, 3M LIBOR + 1.040%, 10/20/27 (144A) (f)		1,075,000		1,067,817
Legacy Mortgage Asset Trust 4.000%, 03/25/58 (144A) (o)		1,605,712		1,604,883
Lendmark Funding Trust 2.830%, 12/22/25 (144A) (n)		680,000		674,157
Madison Park Funding, Ltd. 3.932%, 3M LIBOR + 1.160%, 07/23/29 (144A) (f)		1,341,000		1,340,796
4.021%, 3M LIBOR + 1.260%, 07/20/26 (144A) (f)		1,166,146		1,166,236
Magnetite XVIII, Ltd. 3.764%, 3M LIBOR + 1.080%, 11/15/28 (144A) (f)		1,323,000		1,317,379
Magnetite, Ltd. 3.767%, 3M LIBOR + 0.980%, 04/15/31 (144A) (f)		795,000		789,256
3.771%, 3M LIBOR + 1.000%, 07/25/26 (144A) (f)		1,027,073		1,026,399
4.271%, 3M LIBOR + 1.500%, 07/25/26 (144A) (f)		995,000		994,637
Marlette Funding Trust 2.360%, 12/15/24 (144A) (n)		114,183		114,022

BHFTII-114

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
MFRA Trust 3.352%, 11/25/47 (144A) (o)		1,422,435	$	1,420,956
Mill City Mortgage Loan Trust 3.500%, 08/25/58 (144A) (f)		991,080		999,605
3.500%, 04/25/66 (144A) (f)		1,630,000		1,623,828
Nationstar HECM Loan Trust 2.038%, 09/25/27 (144A) (f)		128,516		128,365
Neuberger Berman CLO, Ltd. 3.587%, 3M LIBOR + 0.800%, 01/15/28 (144A) (f)		1,480,000		1,467,469
New Residential Advance Receivables Trust 2.575%, 10/15/49 (144A)		624,500		622,544
3.214%, 02/15/51 (144A)		1,065,000		1,067,964
New Residential Mortgage LLC 3.790%, 07/25/54 (144A)		1,383,516		1,394,990
NRZ Advance Receivables Trust 3.107%, 12/15/50 (144A)		1,195,000		1,196,057
NRZ Excess Spread-Collateralized Notes 3.193%, 01/25/23 (144A)		897,150		893,278
3.265%, 02/25/23 (144A)		558,781		558,520
Oak Hill Advisors Residential Loan Trust 3.000%, 06/25/57 (144A) (o)		261,649		261,288
OCP CLO, Ltd. 3.623%, 3M LIBOR + 0.850%, 04/17/27 (144A) (f)		1,230,000		1,224,170
Octagon Investment Partners, Ltd. 4.081%, 3M LIBOR + 1.320%, 03/17/30 (144A) (f)		725,000		724,007
OneMain Financial Issuance Trust 2.370%, 09/14/32 (144A)		1,648,000		1,635,137
4.100%, 03/20/28 (144A)		189,649		189,936
OZLM Funding, Ltd. 3.661%, 3M LIBOR + 0.900%, 07/22/29 (144A) (f)		62,500		62,516
4.011%, 3M LIBOR + 1.250%, 10/22/30 (144A) (f)		1,205,000		1,193,530
OZLM, Ltd. 3.783%, 3M LIBOR + 1.010%, 07/17/29 (144A) (f)		335,000		331,312
3.801%, 3M LIBOR + 1.050%, 04/30/27 (144A) (f)		1,360,000		1,351,432
Palmer Square Loan Funding, Ltd. 4.134%, 3M LIBOR + 1.450%, 11/15/26 (144A) (f)		735,000		728,238
Pretium Mortgage Credit Partners LLC 3.375%, 01/27/33 (144A) (o)		225,626		224,419
Prosper Marketplace Issuance Trust 2.360%, 11/15/23 (144A)		55,235		55,196
PRPM LLC 4.000%, 08/25/23 (144A) (f)		934,756		936,852
Regional Management Issuance Trust 3.830%, 07/15/27 (144A) (n)		950,000		948,269
SBA Tower Trust 2.898%, 10/15/44 (144A)		845,000		844,022
3.168%, 04/09/47 (144A)		995,000		989,867
Seneca Park CLO, Ltd. 3.893%, 3M LIBOR + 1.120%, 07/17/26 (144A) (f)		873,488		873,646
Shackleton CLO, Ltd. 3.793%, 3M LIBOR + 1.020%, 07/17/28 (144A) (f)		1,100,000		1,093,904
SoFi Consumer Loan Program LLC 2.500%, 05/26/26 (144A)		250,876		249,043
2.770%, 05/25/26 (144A)		127,430		127,014
3.090%, 10/27/25 (144A) (n)		208,140		208,131
3.280%, 01/26/26 (144A) (n)		202,361		203,055
Asset-Backed - Other—(Continued)
Sound Point CLO, Ltd. 3.651%, 3M LIBOR + 0.890%, 01/20/28 (144A) (f)		1,440,000		1,427,684
4.162%, 3M LIBOR + 1.390%, 01/23/29 (144A) (f)		505,000		504,773
Springleaf Funding Trust 2.680%, 07/15/30 (144A)		1,705,000		1,691,561
2.900%, 11/15/29 (144A)		925,194		923,849
SPS Servicer Advance Receivables Trust 2.750%, 11/15/49 (144A)		1,020,000		1,017,928
3.620%, 10/17/50 (144A)		315,000		317,071
Symphony CLO, Ltd. 4.077%, 3M LIBOR + 1.280%, 07/14/26 (144A) (f)		1,213,209		1,213,423
Towd Point Mortgage Trust 2.750%, 02/25/55 (144A) (f)		143,658		142,404
2.750%, 08/25/55 (144A) (f)		567,495		561,130
2.750%, 04/25/57 (144A) (f)		413,608		409,399
2.750%, 06/25/57 (144A) (f)		1,147,084		1,128,568
3.000%, 03/25/54 (144A) (f)		34,068		33,850
3.086%, 1M LIBOR + 0.600%, 02/25/57 (144A) (f)		1,018,941		1,010,534
Treman Park CLO, Ltd. 3.831%, 3M LIBOR + 1.070%, 10/20/28 (144A) (f)		1,300,000		1,300,625
Vericrest Opportunity Loan Trust LLC 3.125%, 09/25/47 (144A) (o)		232,502		231,630
Vibrant CLO, Ltd. 3.873%, 3M LIBOR + 1.240%, 06/20/29 (144A) (f)		1,515,000		1,510,796
VOLT LXIV LLC 3.375%, 10/25/47 (144A) (o)		1,037,439		1,035,967
VOLT LXVI 4.336%, 05/25/48 (144A) (o)		647,859		649,319
VOLT LXX LLC 4.115%, 09/25/48 (144A) (o)		762,790		765,800
VOLT LXXI LLC 3.967%, 09/25/48 (144A) (o)		500,307		502,520
Voya CLO, Ltd. 3.680%, 3M LIBOR + 0.900%, 01/18/29 (144A) (f)		1,610,000		1,594,393
4.030%, 3M LIBOR + 1.250%, 01/18/29 (144A) (f)		440,000		429,773
Wendys Funding LLC 3.884%, 03/15/48 (144A) (n)		429,563		423,493
Wingstop Funding LLC 4.970%, 12/05/48 (144A) (n)		405,000		419,410
				85,155,620
Total Asset-Backed Securities (Cost $90,378,085)				89,347,018
Mortgage-Backed Securities—4.5%
Collateralized Mortgage Obligations—2.6%
Adjustable Rate Mortgage Trust 2.986%, 1M LIBOR + 0.500%, 01/25/36 (f)		159,571		151,242
3.026%, 1M LIBOR + 0.540%, 11/25/35 (f)		157,692		156,273
Angel Oak Mortgage Trust LLC 3.628%, 03/25/49 (144A) (f)		440,000		439,855
3.920%, 11/25/48 (144A) (f)		1,516,337		1,530,913
Bear Stearns Adjustable Rate Mortgage Trust 4.102%, 07/25/36 (f)		334,689		302,324

BHFTII-115

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Bear Stearns ALT-A Trust 2.966%, 1M LIBOR + 0.480%, 02/25/36 (f)		647,948	$	615,372
Bear Stearns Mortgage Funding Trust 2.666%, 1M LIBOR + 0.180%, 10/25/36 (f)		182,465		168,583
2.686%, 1M LIBOR + 0.200%, 02/25/37 (f)		592,363		612,757
CIM Trust 3.000%, 04/25/57 (144A) (f)		1,224,148		1,217,246
Civic Mortgage LLC 3.892%, 06/25/22 (144A) (o)		219,137		218,687
COLT Funding LLC 3.705%, 03/25/49 (144A) (f)		524,920		526,831
COLT Mortgage Loan Trust 3.337%, 05/25/49 (144A) (f)		880,000		879,999
Countrywide Alternative Loan Trust 2.936%, 1M LIBOR + 0.450%, 04/25/35 (f)		243,054		224,147
3.026%, 1M LIBOR + 0.540%, 01/25/36 (f)		126,489		120,824
3.286%, 1M LIBOR + 0.800%, 12/25/35 (f)		164,975		142,432
3.747%, 12M MTA + 1.350%, 08/25/35 (f)		300,475		273,921
5.500%, 11/25/35		625,955		529,870
Countrywide Home Loan Mortgage Pass-Through Trust 2.686%, 1M LIBOR + 0.200%, 04/25/46 (f)		300,483		256,556
3.166%, 1M LIBOR + 0.680%, 02/25/35 (f)		127,723		126,036
3.895%, 06/20/35 (f)		17,820		17,950
4.018%, 09/25/47 (f)		415,204		386,851
Credit Suisse Mortgage Capital Certificates Trust 3.250%, 04/25/47 (144A) (f)		525,400		512,913
Deephaven Residential Mortgage Trust 2.453%, 06/25/47 (144A) (f)		260,193		257,169
3.789%, 08/25/58 (144A) (f)		1,313,391		1,324,157
Deutsche ALT-A Securities Mortgage Loan Trust 2.636%, 1M LIBOR + 0.150%, 12/25/36 (f)		363,990		325,109
GreenPoint Mortgage Funding Trust 3.797%, 12M MTA + 1.400%, 10/25/45 (f)		227,021		194,817
GSR Mortgage Loan Trust 2.786%, 1M LIBOR + 0.300%, 01/25/37 (f)		705,462		377,263
4.409%, 01/25/36 (f)		457,616		457,887
6.000%, 07/25/37		256,899		225,771
Home Re, Ltd. 4.086%, 1M LIBOR + 1.600%, 10/25/28 (144A) (f)		690,000		691,302
IndyMac INDX Mortgage Loan Trust 4.212%, 10/25/35 (f)		39,797		37,646
JPMorgan Mortgage Trust 4.015%, 05/25/36 (f)		31,444		30,654
LSTAR Securities Investment, Ltd. 4.139%, 1M LIBOR + 1.650%, 11/01/22 (144A) (f)		314,245		315,183
4.191%, 1M LIBOR + 1.700%, 03/01/24 (144A) (f)		790,000		790,519
4.239%, 1M LIBOR + 1.750%, 09/01/22 (144A) (f)		276,643		276,730
MASTR Adjustable Rate Mortgages Trust 3.992%, 09/25/33 (f)		80,579		79,765
4.467%, 11/21/34 (f)		101,516		104,306
Metlife Securitization Trust 3.750%, 03/25/57 (144A) (f)		844,562		855,608
MFA Trust 2.588%, 02/25/57 (144A) (f)		288,244		285,264
Morgan Stanley Mortgage Loan Trust 4.280%, 05/25/36 (f)		208,523		155,094
Collateralized Mortgage Obligations—(Continued)
New Residential Mortgage Loan Trust
3.236%, 1M LIBOR + 0.750%, 01/25/48 (144A) (f)		1,456,601		1,446,260
3.750%, 11/26/35 (144A) (f)		851,913		861,520
4.000%, 02/25/57 (144A) (f)		1,491,694		1,518,515
4.000%, 03/25/57 (144A) (f)		1,528,545		1,562,517
4.000%, 04/25/57 (144A) (f)		1,240,565		1,267,678
4.000%, 05/25/57 (144A) (f)		1,002,189		1,024,153
4.000%, 09/25/57 (144A) (f)		1,161,783		1,175,957
Residential Accredit Loans, Inc. Trust
2.786%, 1M LIBOR + 0.300%, 04/25/36 (f)		573,965		530,523
6.000%, 12/25/35		250,090		240,615
RFMSI Trust 4.161%, 08/25/35 (f)		96,534		73,022
Seasoned Credit Risk Transfer Trust
3.500%, 11/25/57		485,224		491,884
3.500%, 03/25/58		1,355,631		1,360,810
3.500%, 07/25/58		1,321,135		1,336,187
Structured Adjustable Rate Mortgage Loan Trust 0.490%, 09/25/34 (f)		59,168		55,110
Verus Securitization Trust 3.677%, 06/01/58 (144A) (f)		1,040,245		1,050,235
WaMu Mortgage Pass-Through Certificates Trust
3.277%, 12M MTA + 0.880%, 10/25/46 (f)		234,443		219,953
3.591%, 06/25/37 (f)		140,696		131,353
Washington Mutual Mortgage Pass-Through Certificates 3.086%, 1M LIBOR + 0.600%, 07/25/36 (f)		108,912		73,885
Wells Fargo Mortgage-Backed Securities Trust
4.540%, 10/25/35 (f)		1,541,000		1,564,881
4.624%, 09/25/36 (f)		144,789		145,393
4.699%, 10/25/36 (f)		167,536		165,307
				32,491,584
Commercial Mortgage-Backed Securities—1.9%
BANK
0.748%, 11/15/50 (f) (g)		8,284,695		434,296
0.818%, 11/15/54 (f) (g)		993,058		55,511
Benchmark Mortgage Trust
0.527%, 01/15/51 (f) (g)		2,487,933		91,181
0.543%, 07/15/51 (f) (g)		4,462,932		164,985
CAMB Commercial Mortgage Trust 5.034%, 1M LIBOR + 2.550%, 12/15/37 (144A) (f)		665,000		668,736
Citigroup Commercial Mortgage Trust
0.984%, 07/10/47 (f) (g)		4,036,085		167,696
1.106%, 04/10/48 (f) (g)		4,841,237		225,344
3.458%, 08/15/50		675,000		687,673
Commercial Mortgage Pass-Through Certificates Mortgage Trust
0.624%, 02/10/47 (f) (g)		2,874,179		72,283
0.683%, 08/10/46 (f) (g)		893,640		23,487
1.769%, 10/15/45 (f) (g)		387,286		17,990
2.540%, 12/10/45		250,000		248,342
2.853%, 10/15/45		180,000		178,878
3.101%, 03/10/46		145,000		146,375
3.213%, 03/10/46		263,809		266,522
3.424%, 03/10/31 (144A)		1,065,000		1,093,171
3.612%, 06/10/46 (f)		260,000		267,334
3.620%, 07/10/50		130,000		133,569

BHFTII-116

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
Commercial Mortgage Pass-Through Certificates Mortgage Trust
3.694%, 08/10/47		395,000	$	409,173
3.796%, 08/10/47		225,000		234,202
3.961%, 03/10/47		235,125		246,165
4.074%, 02/10/47 (f)		115,000		120,844
4.205%, 08/10/46		100,035		105,362
4.210%, 08/10/46 (f)		175,000		184,278
4.236%, 02/10/47 (f)		190,000		200,632
4.573%, 10/15/45 (144A) (f) (n)		210,000		47,328
4.750%, 10/15/45 (144A) (f) (n)		355,000		189,517
Credit Suisse First Boston Mortgage Securities Corp. 4.877%, 04/15/37		2,534		2,488
CSAIL Commercial Mortgage Trust
0.790%, 06/15/57 (f) (g)		12,706,416		467,210
1.017%, 11/15/48 (f) (g)		1,132,918		50,850
1.792%, 01/15/49 (f) (g)		2,382,348		206,006
3.447%, 08/15/48		80,000		81,586
3.544%, 11/15/48		280,000		286,979
GS Mortgage Securities Corp. Trust
2.954%, 11/05/34 (144A)		1,200,000		1,201,906
3.633%, 06/05/31 (144A)		130,000		129,972
GS Mortgage Securities Trust
0.085%, 07/10/46 (f) (g)		11,136,853		40,817
1.337%, 08/10/44 (144A) (f) (g)		989,157		23,855
3.629%, 11/10/47		230,000		237,209
3.674%, 04/10/47 (144A) (n)		235,000		73,190
4.966%, 04/10/47 (144A) (f)		465,000		398,708
JPMBB Commercial Mortgage Securities Trust
0.710%, 09/15/47 (f) (g)		3,858,042		103,256
3.363%, 07/15/45		397,534		404,762
JPMorgan Chase Commercial Mortgage Securities Trust
2.733%, 10/15/45 (144A) (f) (n)		400,000		241,889
4.384%, 12/15/47 (144A) (f) (n)		130,000		110,383
Morgan Stanley Bank of America Merrill Lynch Trust
1.035%, 10/15/48 (f) (g)		867,664		45,252
1.095%, 12/15/47 (f) (g)		2,856,704		99,678
2.918%, 02/15/46		130,000		130,447
3.134%, 12/15/48		480,000		485,576
3.176%, 08/15/45		245,000		247,615
3.766%, 11/15/46		180,000		187,015
4.259%, 10/15/46 (f)		115,000		121,685
Morgan Stanley Capital Trust
1.446%, 06/15/50 (f) (g)		1,708,193		136,148
5.155%, 07/15/49 (144A) (f) (n)		265,000		230,972
5.266%, 10/12/52 (144A) (f) (n)		135,000		5,655
MTRO Commercial Mortgage Trust 4.284%, 1M LIBOR + 1.800%, 12/15/33 (144A) (f)		565,000		565,530
SFAVE Commercial Mortgage Securities Trust 3.872%, 01/05/43 (144A) (f)		150,000		150,546
UBS Commercial Mortgage Trust
1.098%, 08/15/50 (f) (g)		986,366		68,160
3.426%, 08/15/50		225,000		228,046
UBS-Barclays Commercial Mortgage Trust
1.511%, 02/15/50 (f) (g)		5,681,993		511,138
2.850%, 12/10/45		325,000		325,875
3.091%, 08/10/49		645,000		651,406
Commercial Mortgage-Backed Securities—(Continued)
UBS-Barclays Commercial Mortgage Trust
3.185%, 03/10/46		240,000		243,422
3.244%, 04/10/46		300,119		305,266
3.334%, 1M LIBOR + 0.850%, 08/15/36 (144A) (f)		1,802,000		1,793,226
VNDO Mortgage Trust 2.996%, 11/15/30 (144A)		1,105,000		1,112,736
Wells Fargo Commercial Mortgage Trust
1.144%, 09/15/57 (f) (g)		8,269,246		358,913
1.150%, 05/15/48 (f) (g)		3,822,286		172,567
2.918%, 10/15/45		316,257		316,425
2.942%, 10/15/49		70,000		68,803
3.290%, 05/15/48		230,000		233,235
3.789%, 09/15/48		315,000		326,431
3.839%, 09/15/58		225,000		234,755
4.100%, 05/15/48 (f)		80,000		75,529
WF-RBS Commercial Mortgage Trust
1.240%, 03/15/47 (f) (g)		1,853,604		84,959
2.870%, 11/15/45		397,749		397,760
2.875%, 12/15/45		175,000		174,491
3.016%, 11/15/47 (144A) (n)		550,000		292,441
3.071%, 03/15/45		185,000		186,316
3.345%, 05/15/45		100,000		100,668
3.607%, 11/15/47		225,000		231,178
3.723%, 05/15/47		190,000		196,507
3.995%, 05/15/47		160,281		168,083
4.045%, 03/15/47		40,000		41,913
4.101%, 03/15/47		335,000		353,225
5.000%, 06/15/44 (144A) (f) (n)		105,000		80,844
5.583%, 04/15/45 (144A) (f)		255,000		263,876
				22,746,253
Total Mortgage-Backed Securities (Cost $56,709,549)				55,237,837
Floating Rate Loans (p)—0.9%
Aerospace/Defense—0.0%
TransDigm, Inc. Term Loan E, 4.999%, 1M LIBOR + 2.500%, 05/30/25		149,496		145,829
Auto Manufacturers—0.0%
Navistar International Corp. 1st Lien Term Loan B, 6.000%, 1M LIBOR + 3.500%, 11/06/24		99,000		98,834
Panther BF Aggregator 2 L.P.
Term Loan B, 03/14/26 (EUR) (q)		150,000		167,660
Term Loan B, 03/18/26 (q)		115,000		113,847
				380,341
Building Materials—0.0%
NCI Building Systems, Inc. Term Loan, 6.547%, 3M LIBOR + 3.750%, 04/12/25		99,250		94,784
Quikrete Holdings, Inc. 1st Lien Term Loan, 5.249%, 1M LIBOR + 2.750%, 11/15/23		125,000		121,875
				216,659

BHFTII-117

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Floating Rate Loans (p)—(Continued)

Security Description	Principal Amount*		Value
Chemicals—0.0%
HB Fuller Co. Term Loan B, 4.488%, 1M LIBOR + 2.000%, 10/20/24		90,430	$	88,760
Univar, Inc. Term Loan B, 4.749%, 1M LIBOR + 2.250%, 07/01/24		91,159		90,290
				179,050
Commercial Services—0.1%
Acosta Holdco, Inc. Term Loan, 5.749%, 1M LIBOR + 3.250%, 09/26/21		152,490		70,018
APX Group, Inc. Term Loan B, 7.501%, PRIME + 4.000%, 04/01/24		99,500		97,634
Blitz F18-675 GmbH Term Loan B2, 3.750%, EURIBOR + 3.750%, 07/31/25 (EUR)		100,000		112,637
BrightView Landscapes LLC 1st Lien Term Loan B, 5.000%, 1M LIBOR + 2.500%, 08/15/25		216,319		215,503
Dun & Bradstreet Corporation (The) Term Loan, 7.490%, 1M LIBOR + 5.000%, 02/01/26		100,000		99,292
Financial & Risk US Holdings, Inc. Term Loan, 6.249%, 1M LIBOR + 3.750%, 10/01/25		104,738		101,781
Jaguar Holding Co. II Term Loan, 4.999%, 1M LIBOR + 2.500%, 08/18/22		129,657		128,470
Nets Holding A/S Term Loan B1E, 3.000%, EURIBOR + 3.000%, 02/06/25 (EUR)		88,194		97,625
PSAV Holdings LLC 1st Lien Term Loan, 5.759%, 1M LIBOR + 3.250%, 03/01/25		173,436		168,883
WEX, Inc. Term Loan B2, 4.749%, 1M LIBOR + 2.250%, 06/30/23		408,450		405,591
				1,497,434
Computers—0.0%
Tempo Acquisition LLC Term Loan, 5.499%, 1M LIBOR + 3.000%, 05/01/24		206,325		204,649
Cosmetics/Personal Care—0.0%
Coty, Inc. Term Loan B, 4.742%, 1M LIBOR + 2.250%, 04/07/25		188,352		181,288
Revlon Consumer Products Corp. Term Loan B, 6.129%, 3M LIBOR + 3.500%, 09/07/23		139,131		101,357
				282,645
Diversified Consumer Services—0.0%
Weight Watchers International, Inc. 2017 Term Loan B, 7.560%, 3M LIBOR + 4.750%, 11/29/24		98,684		94,161
Diversified Financial Services—0.0%
AlixPartners LLP Term Loan B, 5.249%, 1M LIBOR + 2.750%, 04/04/24		176,400		175,628
Energy Equipment & Services—0.0%
Seadrill Partners Finco LLC Term Loan B, 8.601%, 3M LIBOR + 6.000%, 02/21/21		103,529		86,705
Entertainment—0.0%
Golden Entertainment, Inc. 1st Lien Term Loan, 5.500%, 1M LIBOR + 3.000%, 10/21/24		167,875		166,616
Food—0.0%
Post Holdings, Inc. Incremental Term Loan, 4.490%, 1M LIBOR + 2.000%, 05/24/24		98,213		97,599
Food Products—0.0%
Hostess Brands LLC Term Loan, 4.895%, 3M LIBOR + 2.250%, 08/03/22		107,535		104,745
Healthcare-Products—0.0%
Lifescan Global Corporation 1st Lien Term Loan, 8.797%, 3M LIBOR + 6.000%, 09/27/24		98,250		94,607
Healthcare-Services—0.1%
Envision Healthcare Corp. 1st Lien Term Loan, 6.249%, 1M LIBOR + 3.750%, 10/10/25		114,713		107,519
MPH Acquisition Holdings LLC Term Loan B, 5.351%, 3M LIBOR + 2.750%, 06/07/23		140,576		136,236
U.S. Renal Care, Inc. Term Loan B, 6.851%, 3M LIBOR + 4.250%, 12/30/22		251,550		251,330
				495,085
Insurance—0.1%
Asurion LLC Term Loan B4, 5.499%, 1M LIBOR + 3.000%, 08/04/22		280,480		279,429
Camelot UK Holdco, Ltd. Term Loan, 5.746%, 1M LIBOR + 3.250%, 10/03/23		105,043		104,518
Hub International, Ltd. Term Loan B, 5.515%, 3M LIBOR + 2.750%, 04/25/25		119,100		115,366
Sedgwick Claims Management Services, Inc. Term Loan B, 5.749%, 1M LIBOR + 3.250%, 12/31/25		99,750		97,864
USI, Inc. Term Loan, 5.601%, 3M LIBOR + 3.000%, 05/16/24		103,425		100,193
				697,370
Internet—0.0%
Zayo Group LLC Incremental Term Loan, 4.749%, 1M LIBOR + 2.250%, 01/19/24		75,071		74,743
Internet & Direct Marketing Retail—0.0%
Lands’ End, Inc. Term Loan B, 5.749%, 1M LIBOR + 3.250%, 04/04/21		154,962		149,151

BHFTII-118

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Floating Rate Loans (p)—(Continued)

Security Description	Principal Amount*		Value
IT Services—0.0%
Blackhawk Network Holdings, Inc. 1st Lien Term Loan, 5.499%, 1M LIBOR + 3.000%, 06/15/25		198,999	$	195,815
Leisure Time—0.0%
Aristocrat Technologies, Inc. 1st Lien Term Loan, 4.526%, 3M LIBOR + 1.750%, 10/19/24		92,636		91,035
Delta 2 (LUX) S.a.r.l. Term Loan, 4.999%, 1M LIBOR + 2.500%, 02/01/24		241,686		232,623
				323,658
Life Sciences Tools & Services—0.0%
Syneos Health, Inc. Term Loan B, 4.499%, 1M LIBOR + 2.000%, 08/01/24		63,585		63,211
Lodging—0.0%
Boyd Gaming Corp. Term Loan B3, 4.658%, 1W LIBOR + 2.250%, 09/15/23		118,179		117,056
Caesars Entertainment Operating Co. Term Loan, 4.499%, 1M LIBOR + 2.000%, 10/06/24		158,000		154,511
Caesars Resort Collection LLC 1st Lien Term Loan B, 5.249%, 1M LIBOR + 2.750%, 12/22/24		109,899		108,820
Crown Finance U.S., Inc. Term Loan, 4.999%, 1M LIBOR + 2.500%, 02/28/25		94,489		92,434
				472,821
Machinery—0.0%
Circor International, Inc. 1st Lien Term Loan, 5.992%, 1M LIBOR + 3.500%, 12/11/24		99,135		96,966
Machinery-Construction & Mining—0.0%
Brookfield WEC Holdings, Inc. 1st Lien Term Loan, 6.249%, 1M LIBOR + 3.750%, 08/01/25		99,750		99,762
Machinery-Diversified—0.0%
Gardner Denver, Inc. Term Loan B, 5.249%, 1M LIBOR + 2.750%, 07/30/24		174,906		174,933
Media—0.0%
Gray Television, Inc. Term Loan C, 4.982%, 1M LIBOR + 2.500%, 01/02/26		99,750		98,846
Numericable Group S.A. Term Loan B12, 6.171%, 1M LIBOR + 3.687%, 01/31/26		98,750		93,418
Univision Communications, Inc. Term Loan C5, 5.249%, 1M LIBOR + 2.750%, 03/15/24		142,759		134,856
				327,120
Miscellaneous Manufacturing—0.0%
CTC AcquiCo GmbH 2017 Term Loan B1, 2.750%, EURIBOR + 2.750%, 03/07/25 (EUR)		97,570		107,491
Office/Business Equipment—0.0%
Brand Energy & Infrastructure Services, Inc. Term Loan, 6.956%, 3M LIBOR + 4.250%, 06/21/24		147,375		141,848
Oil & Gas—0.1%
California Resources Corp. Second Out Term Loan, 12.871%, 1M LIBOR + 10.375%, 12/31/21 (c)		130,000		137,312
Fieldwood Energy LLC 1st Lien TL, 7.749%, 1M LIBOR + 5.250%, 04/11/22		249,780		239,602
Foresight Energy LLC 1st Lien Term Loan, 8.379%, 3M LIBOR + 5.750%, 03/28/22		189,117		185,619
Paragon Offshore Finance Co. Term Loan B, 07/18/21 (d) (t)		706		0
				562,533
Packaging & Containers—0.1%
Berry Global, Inc. Term Loan S, 4.243%, 1M LIBOR + 1.750%, 02/08/20		151,134		150,879
Flex Acquisition Co., Inc. 1st Lien Term Loan, 5.626%, 1M LIBOR + 3.000%, 12/29/23		98,250		95,456
Reynolds Group Holdings, Inc. Term Loan, 5.249%, 1M LIBOR + 2.750%, 02/05/23		252,411		249,775
				496,110
Pharmaceuticals—0.1%
Change Healthcare Holdings LLC Term Loan B, 5.249%, 1M LIBOR + 2.750%, 03/01/24		168,000		165,900
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.750%, 1M LIBOR + 4.250%, 04/29/24		167,025		164,572
Valeant Pharmaceuticals International, Inc. Term Loan B, 5.481%, 1M LIBOR + 3.000%, 06/02/25		158,759		157,795
				488,267
Real Estate Investment Trusts—0.0%
VICI Properties 1 LLC Term Loan B, 4.491%, 1M LIBOR + 2.000%, 12/20/24		195,455		192,596
Retail—0.1%
Bass Pro Group LLC Term Loan B, 7.499%, 1M LIBOR + 5.000%, 09/25/24		147,750		144,794
Harbor Freight Tools USA, Inc. Term Loan B, 4.999%, 1M LIBOR + 2.500%, 08/18/23		115,739		113,328
J. Crew Group, Inc. Term Loan B, 5.628%, 3M LIBOR + 3.000%, 03/05/21 (d) (t)		305,306		183,245
Neiman Marcus Group, Ltd. LLC Term Loan, 5.733%, 1M LIBOR + 3.250%, 10/25/20		221,501		206,319
Staples, Inc. Term Loan B, 6.489%, 1M LIBOR + 4.000%, 09/12/24		128,375		127,721
				775,407

BHFTII-119

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Floating Rate Loans (p)—(Continued)

Security Description	Principal Amount*		Value
Semiconductors & Semiconductor Equipment—0.0%
Microchip Technology, Inc. Term Loan B, 4.500%, 1M LIBOR + 2.000%, 05/29/25		63,760	$	63,112
Software—0.1%
Almonde, Inc. 1st Lien Term Loan, 6.101%, 3M LIBOR + 3.500%, 06/13/24		117,006		112,974
First Data Corp. Term Loan, 4.486%, 1M LIBOR + 2.000%, 07/08/22		324,270		323,813
Infor (U.S.), Inc. Term Loan B6, 5.249%, 1M LIBOR + 2.750%, 02/01/22		241,753		240,922
SS&C Technologies, Inc. Term Loan B5, 4.749%, 1M LIBOR + 2.250%, 04/16/25		99,492		98,715
				776,424
Telecommunications—0.1%
CenturyLink, Inc. Term Loan B, 5.249%, 1M LIBOR + 2.750%, 01/31/25		99,747		97,753
CSC Holdings LLC 1st Lien Term Loan, 4.734%, 1M LIBOR + 2.250%, 07/17/25		106,386		103,620
Sprint Communications, Inc. 1st Lien Term Loan B, 5.000%, 1M LIBOR + 2.500%, 02/02/24		333,200		323,829
Telenet Financing USD LLC Term Loan AN, 4.734%, 1M LIBOR + 2.250%, 08/15/26		100,000		98,125
				623,327
Transportation—0.0%
Savage Enterprises LLC 1st Lien Term Loan B, 6.990%, 1M LIBOR + 4.500%, 08/01/25		89,568		89,876
Total Floating Rate Loans (Cost $11,649,843)				11,214,294
Foreign Government—0.6%
Banks—0.0%
Banque Centrale de Tunisie International Bond 6.750%, 10/31/23 (144A) (EUR)		535,000		581,796
Sovereign—0.6%
Argentine Republic Government International Bond 5.250%, 01/15/28 (EUR)		370,000		304,811
Egypt Government International Bond 8.500%, 01/31/47		200,000		203,905
Export-Import Bank of Korea 3.221%, 3M LIBOR + 0.460%, 10/21/19 (f)		200,000		200,090
Ghana Government International Bond 8.627%, 06/16/49 (144A)		400,000		390,000
Hungary Government International Bond 6.375%, 03/29/21		160,000		170,388
Italy Buoni Ordinari del Tesoro BOT Zero Coupon, 07/12/19 (EUR)		100,000		112,220
Sovereign—(Continued)
Italy Buoni Poliennali Del Tesoro 2.500%, 05/01/19 (EUR)		80,000		89,916
Italy Certificati di Credito del Tesoro Zero Coupon, 05/30/19 (EUR)		180,000		201,971
Japan Bank for International Cooperation 3.106%, 3M LIBOR + 0.480%, 06/01/20 (f)		200,000		200,906
Qatar Government International Bonds
4.000%, 03/14/29 (144A)		1,640,000		1,690,204
4.817%, 03/14/49 (144A)		1,165,000		1,224,925
Romanian Government International Bond 6.125%, 01/22/44		842,000		962,347
Spain Letras del Tesoro
Zero Coupon, 06/14/19 (EUR)		670,000		752,208
Zero Coupon, 08/16/19 (EUR)		190,000		213,451
				6,717,342
Total Foreign Government (Cost $7,386,601)				7,299,138
Municipals—0.2%
Chicago Board of Education, General Obligation Unlimited, Build America Bonds
6.138%, 12/01/39		155,000		155,589
6.319%, 11/01/29		345,000		355,002
City of Chicago IL, General Obligation Unlimited
7.045%, 01/01/29		190,000		212,000
7.375%, 01/01/33		775,000		864,427
Municipal Electric Authority of Georgia, Build America Bond 6.637%, 04/01/57		318,000		357,877
State of Illinois
4.950%, 06/01/23		375,000		385,658
5.000%, 01/01/23		70,000		72,001
5.563%, 02/01/21		150,000		156,489
Total Municipals (Cost $2,501,327)				2,559,043
Short-Term Investments—1.4%
Certificate of Deposit—0.0%
Credit Agricole Corporate and Investment Bank 3.002%, 3M LIBOR + 0.400%, 09/24/20 (f)		125,000		125,054
Dexia Credit Local S.A. 2.783%, 3M LIBOR + 0.100%, 05/17/20 (f)		105,000		105,012
				230,066
Commercial Paper—0.1%
AT&T, Inc. 2.903%, 05/28/19		250,000		248,812
Bank of Nova Scotia 2.244%, 08/13/19		275,000		204,336
ENI Finance USA, Inc. 2.780%, 04/30/19		325,000		324,216
Ford Motor Credit Co. 3.217%, 05/01/19		250,000		249,289

BHFTII-120

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Glencore Funding LLC 2.663%, 04/08/19		250,000	$	249,812
Humana, Inc. 2.932%, 05/13/19		250,000		249,087
				1,525,552
Repurchase Agreement—0.4%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $4,206,459; collateralized by U.S. Treasury Note at 2.500%, maturing 01/15/22, with a market value of $4,294,989.		4,206,039		4,206,039
Foreign Government—0.9%
Egypt Treasury Bills
17.260%, 11/19/19 (EGP) (r)		2,275,000		118,531
18.033%, 10/15/19 (EGP) (r)		11,450,000		605,415
Japan Treasury Bills
Zero Coupon, 04/15/19 (JPY)		74,800,000		674,941
Zero Coupon, 05/09/19 (JPY)		210,850,000		1,902,834
Zero Coupon, 05/13/19 (JPY)		157,100,000		1,417,791
Zero Coupon, 05/20/19 (JPY)		174,850,000		1,578,036
Zero Coupon, 05/27/19 (JPY)		177,000,000		1,597,496
Zero Coupon, 06/03/19 (JPY)		160,250,000		1,446,369
Zero Coupon, 06/17/19 (JPY)		56,700,000		511,792
Zero Coupon, 07/01/19 (JPY)		154,100,000		1,391,052
Ontario T-Bill 1.867%, 07/17/19 (CAD) (r)		415,000		308,756
				11,553,013
Total Short-Term Investments (Cost $17,581,745)				17,514,670
Securities Lending Reinvestments (s)—5.7%
Certificates of Deposit—2.2%
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (f)		1,000,000		1,000,355
Barclays Bank plc 2.950%, 08/02/19		1,000,000		1,000,270
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (f)		1,000,000		999,994
2.790%, 1M LIBOR + 0.300%, 06/04/19 (f)		2,000,000		2,000,740
Chiba Bank, Ltd. 2.580%, 06/03/19		2,000,000		1,999,874
Commonwealth Bank of Australia 2.901%, 3M LIBOR + 0.140%, 04/23/19 (f)		250,000		250,062
Credit Agricole S.A. 2.807%, 1M LIBOR + 0.320%, 05/21/19 (f)		1,000,000		1,000,258
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 04/16/19		2,979,294		2,996,340
Mizuho Bank, Ltd., New York
2.652%, 1M LIBOR + 0.160%, 09/12/19 (f)		1,000,000		1,000,000
2.789%, 1M LIBOR + 0.300%, 05/01/19 (f)		2,000,000		2,000,394
Nordea Bank New York 2.750%, 06/17/19		1,000,000		1,000,378
Certificates of Deposit—(Continued)
Shizuoka Bank, Ltd. 2.600%, 05/07/19		1,000,000		1,000,045
Standard Chartered plc 3.009%, 3M LIBOR + 0.230%, 04/24/19 (f)		1,500,000		1,500,186
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (f)		4,000,000		4,000,916
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (f)		1,500,000		1,500,057
Svenska Handelsbanken AB 2.873%, 1M LIBOR + 0.380%, 12/10/19 (f)		1,000,000		1,001,758
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (f)		2,000,000		2,000,820
Wells Fargo Bank N.A. 2.975%, 3M LIBOR + 0.210%, 10/25/19 (f)		500,000		500,000
				26,752,447
Commercial Paper—0.5%
Bank of China, Ltd. 2.890%, 04/17/19		992,775		998,579
Fairway Finance Corp. 2.600%, 05/07/19		993,356		997,223
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (f)		1,000,000		1,000,000
Royal Bank of Canada 2.957%, 3M LIBOR + 0.160%, 01/14/20 (f)		1,000,000		1,001,045
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (f)		1,000,000		1,001,396
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (f)		1,000,000		1,000,427
				5,998,670
Repurchase Agreements—1.8%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $1,007,859; collateralized by various Common Stock with an aggregate market value of $1,100,276.		1,000,000		1,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $350,953; collateralized by various Common Stock with an aggregate market value of $385,000.		350,000		350,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $1,200,244; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $1,224,001.		1,200,000		1,200,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $1,100,257; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $1,122,001.		1,100,000		1,100,000

BHFTII-121

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (s)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $1,100,229; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $1,122,000.		1,100,000	$	1,100,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,036,307; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,056,811.		1,036,090		1,036,090
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $1,410,784; collateralized by various Common Stock with an aggregate market value of $1,540,000.		1,400,000		1,400,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $1,511,886; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,607,034.		1,500,000		1,500,000
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $4,722,195; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $5,116,128.		4,600,000		4,600,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $2,052,431; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $2,224,403.		2,000,000		2,000,000
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $2,040,439; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $2,224,403.		2,000,000		2,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $2,901,432; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,225,385.		2,900,000		2,900,000
				22,186,090
Time Deposits—1.2%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		2,000,000		2,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
DZ Bank AG New York 2.430%, 04/01/19		2,000,000		2,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		2,000,000		2,000,000
Skandi New York 2.380%, 04/01/19		3,000,000		3,000,000
Svenska, New York 2.360%, 04/01/19		2,000,000		2,000,000
				15,000,000
Total Securities Lending Reinvestments (Cost $69,928,754)				69,937,207
Total Purchased Options—0.1% (u) (Cost $1,496,708)				1,196,839
Total Investments—111.8% (Cost $1,266,437,696)				1,370,078,128
Other assets and liabilities (net)—(11.8)%				(144,107,563	)
Net Assets—100.0%			$	1,225,970,565

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $70,930,338 and the collateral received consisted of cash in the amount of $69,901,514 and non-cash collateral with a value of $2,334,320. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Illiquid security. As of March 31, 2019, these securities represent 0.4% of net assets.
(d)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent less than 0.05% of net assets.
(e)	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.

BHFTII-122

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(f)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(g)	Interest only security.
(h)	Principal only security.
(i)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2019, the market value of securities pledged was $3,443,910.
(j)	All or a portion of the security was pledged as collateral against open OTC swap and option contracts. As of March 31, 2019, the market value of securities pledged was $2,279,705.
(k)	Principal amount of security is adjusted for inflation.
(l)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2019, the market value of securities pledged was $1,557,394.
(m)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(n)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2019, the market value of restricted securities was $7,196,266, which is 0.6% of net assets. See details shown in the Restricted Securities table that follows.
(o)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(p)	Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(q)	This loan will settle after March 31, 2019, 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 March 31, 2019.
(t)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(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 March 31, 2019, the market value of 144A securities was $154,028,490, which is 12.6% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Avant Loans Funding Trust, 3.420%, 01/18/22		10/10/18	$	911,443	$	911,405	$	912,464
CLUB Credit Trust, 2.610%, 01/15/24		11/29/17		336,420		336,411		335,012
Commercial Mortgage Pass-Through Certificates Mortgage Trust, 4.750%, 10/15/45		02/18/15 - 02/16/17		355,000		256,041		189,517
Commercial Mortgage Pass-Through Certificates Mortgage Trust, 4.573%, 10/15/45		12/05/14 - 03/29/17		210,000		149,074		47,328
Domino’s Pizza Master Issuer LLC, 4.116%, 07/25/48		04/18/18		694,750		694,750		705,220
GS Mortgage Securities Trust, 3.674%, 04/10/47		04/03/14		235,000		147,173		73,190
Heathrow Funding, Ltd., 4.000%, 07/03/19		02/19/19 - 03/20/19		425,000		321,069		319,414
JPMorgan Chase Commercial Mortgage Securities Trust, 2.733%, 10/15/45		05/19/15		400,000		269,984		241,889
JPMorgan Chase Commercial Mortgage Securities Trust, 4.384%, 12/15/47		03/17/14		130,000		105,300		110,383
Lendmark Funding Trust, 2.830%, 12/22/25		06/22/17		680,000		679,861		674,157
Marlette Funding Trust, 2.360%, 12/15/24		10/17/17		114,183		114,177		114,022
Morgan Stanley Capital Trust, 5.155%, 07/15/49		03/13/15		265,000		242,868		230,972
Morgan Stanley Capital Trust, 5.266%, 10/12/52		05/02/14		55,000		55,106		1,650
Regional Management Issuance Trust, 3.830%, 07/15/27		06/20/18		950,000		949,804		948,269
Skopos Auto Receivables Trust, 3.190%, 09/15/21		03/14/18		374,707		374,706		374,713
SoFi Consumer Loan Program LLC, 3.090%, 10/27/25		07/26/16		208,140		208,107		208,131
SoFi Consumer Loan Program LLC, 3.280%, 01/26/26		01/20/17		202,361		202,344		203,055
WF-RBS Commercial Mortgage Trust, 5.000%, 06/15/44		03/27/14		105,000		94,365		80,844
WF-RBS Commercial Mortgage Trust, 3.016%, 11/15/47		11/05/14		550,000		362,270		292,441
Wendys Funding LLC, 3.884%, 03/15/48		12/06/17		429,563		429,562		423,493
Wingstop Funding LLC, 4.970%, 12/05/48		11/06/18		405,000		405,000		419,410
YPF S.A., 16.500%, 05/09/22		05/04/17		19,392,845		1,264,168		290,692
							$	7,196,266

BHFTII-123

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

TBA Forward Sale Commitments

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Fannie Mae 15 Yr. Pool		4.500	%		TBA	$	(1,300,000	)	$	(1,315,133	)	$	(1,321,940	)
Fannie Mae 30 Yr. Pool		3.000	%		TBA		(6,300,000	)		(6,269,484	)		(6,266,777	)
Fannie Mae 30 Yr. Pool		3.000	%		TBA		(8,339,000	)		(8,165,003	)		(8,304,471	)
Fannie Mae 30 Yr. Pool		4.000	%		TBA		(8,000,000	)		(8,234,850	)		(8,229,375	)
Fannie Mae 30 Yr. Pool		4.500	%		TBA		(8,000,000	)		(8,305,168	)		(8,335,430	)
Fannie Mae 30 Yr. Pool		5.000	%		TBA		(725,000	)		(760,457	)		(766,560	)
Freddie Mac 30 Yr. Pool		3.000	%		TBA		(475,000	)		(470,473	)		(472,785	)
Ginnie Mae II 30 Yr. Pool		3.000	%		TBA		(1,380,000	)		(1,388,248	)		(1,386,630	)
Totals									$	(34,908,816	)	$	(35,083,968	)

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	140,000	NWM		09/26/19		USD	100,711	$	965
CAD	345,000	BOA		05/13/19		USD	259,086		651
CAD	125,000	JPMC		05/13/19		USD	94,864		1,228
CAD	135,000	BNP		06/19/19		USD	103,008		1,791
CAD	270,000	MSIP		06/19/19		USD	203,952		1,518
CAD	275,000	DBAG		07/03/19		USD	206,770		513
CAD	150,000	DBAG		07/03/19		USD	113,303		799
CAD	635,000	MSIP		07/08/19		USD	482,055		5,741
CAD	415,000	GSI		07/17/19		USD	314,079		2,728
CAD	420,000	SSBT		07/25/19		USD	318,153		2,999
CAD	275,000	DBAG		08/13/19		USD	208,229		1,796
CAD	100,000	CBNA		09/10/19		USD	76,358		1,248
CAD	135,000	NWM		09/10/19		USD	101,943		544
CAD	410,000	GSI		10/01/19		USD	308,676		589
CAD	310,000	GSI		12/03/19		USD	235,048		1,790
CHF	100,000	HSBCU		04/10/19		USD	101,495		992
EUR	3,259,032	JPMC		04/30/19		USD	3,690,479		25,990
EUR	80,000	JPMC		05/02/19		USD	92,084		2,116
EUR	180,000	JPMC		05/30/19		USD	207,459		4,558
EUR	670,000	CBNA		06/14/19		USD	773,887		17,684
EUR	899,000	GSI		06/19/19		USD	1,023,787		8,687
EUR	100,000	HSBCU		07/12/19		USD	115,069		1,937
EUR	190,000	BNP		08/16/19		USD	220,915		5,349
GBP	150,000	NWM		07/31/19		USD	194,724		(1,794	)
JPY	500,000,000	GSI		04/05/19		USD	4,574,025		61,560
JPY	74,800,000	JPMC		04/15/19		USD	695,631		19,975
JPY	210,850,000	BBP		05/09/19		USD	1,936,278		27,801
JPY	157,100,000	JPMC		05/13/19		USD	1,454,737		32,407
JPY	174,850,000	JPMC		05/20/19		USD	1,605,578		21,837
JPY	177,000,000	JPMC		05/28/19		USD	1,617,347		13,311
JPY	160,250,000	MSIP		06/03/19		USD	1,457,596		4,797
JPY	56,700,000	JPMC		06/17/19		USD	512,931		(1,689	)
JPY	154,100,000	MSIP		07/01/19		USD	1,402,143		1,902
Net Unrealized Appreciation								$	272,320

BHFTII-124

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
S&P 500 Index E-Mini Futures		06/21/19		7			USD	993,230		$	17,030
U.S. Treasury Long Bond Futures		06/19/19		42			USD	6,285,563			180,175
U.S. Treasury Note 10 Year Futures		06/19/19		76			USD	9,440,625			(6,217	)
U.S. Treasury Note 2 Year Futures		06/28/19		85			USD	18,112,969			27,219
U.S. Treasury Note 5 Year Futures		06/28/19		441			USD	51,080,203			449,379
U.S. Treasury Ultra Long Bond Futures		06/19/19		68			USD	11,424,000			388,036
Futures Contracts—Short
Australian 10 Year Treasury Bond Futures		06/17/19		(31	)		AUD	(4,295,253	)		(47,562	)
Euro-Bund Futures		06/06/19		(15	)		EUR	(2,495,100	)		(34,239	)
U.S. Treasury Note Ultra 10 Year Futures		06/19/19		(93	)		USD	(12,348,656	)		(144,926	)
Net Unrealized Appreciation										$	828,895

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 IRS (1)		2.450	%	BBP		3M LIBOR	Pay		08/02/27		1,450,000		USD	1,450,000	$	209,074	$	165,084	$	(43,990	)
Call - OTC - 30 Year IRS (1)		2.450	%	JPMC		3M LIBOR	Pay		08/02/27		1,330,000		USD	1,330,000		136,591		151,421		14,831
Call - OTC - 30 Year IRS (1)		2.450	%	BOA		3M LIBOR	Pay		08/02/27		1,260,000		USD	1,260,000		108,360		143,452		35,092
Put - OTC - 10 Year IRS (1)		3.200	%	BOA		3M LIBOR	Pay		12/09/19		13,000,000		USD	13,000,000		178,100		19,454		(158,646	)
Put - OTC - 10 Year IRS (1)		3.000	%	MSIP		3M LIBOR	Pay		03/18/20		15,514,000		USD	15,514,000		195,088		76,274		(118,815	)
Put - OTC - 30 Year IRS (1)		2.450	%	JPMC		3M LIBOR	Receive		08/02/27		1,330,000		USD	1,330,000		262,808		211,073		(51,735	)
Put - OTC - 30 Year IRS (1)		2.450	%	BBP		3M LIBOR	Receive		08/02/27		1,450,000		USD	1,450,000		118,147		230,117		111,970
Put - OTC - 30 Year IRS (1)		2.450	%	BOA		3M LIBOR	Receive		08/02/27		1,260,000		USD	1,260,000		288,540		199,964		(88,576	)
Totals															$	1,496,708	$	1,196,839	$	(299,869	)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency		Maturity Date		Notional Amount		Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Receive	12M FEDRC		Annually	1.625%		Annually		11/14/26	USD	2,610,000	$	90,719		$	—		$	90,719
Receive	3M LIBOR		Semi-Annually	2.000%		Quarterly		03/21/23	USD	2,825,000		30,243			14,481			15,762
Receive	3M LIBOR		Semi-Annually	2.750%		Quarterly		12/20/47	USD	3,955,000		(139,886	)		(89,206	)		(50,680	)
Receive	3M LIBOR		Semi-Annually	2.791%		Quarterly		09/30/25	USD	6,043,000		(175,449	)		—			(175,449	)
Receive	3M LIBOR		Semi-Annually	2.873%		Quarterly		01/28/49	USD	150,000		(9,416	)		—			(9,416	)
Receive	3M LIBOR		Semi-Annually	2.884%		Quarterly		12/31/48	USD	300,000		(19,645	)		—			(19,645	)
Totals											$	(223,434	)	$	(74,725	)	$	(148,709	)

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/ (Depreciation)
Receive	12M CPURNSA	Maturity	2.004%	Maturity	01/15/23	DBAG	USD	7,825,000	$	(48,582	)	$	3,081	$	(51,663	)
Receive	12M CPURNSA	Annually	1.810%	Annually	09/04/25	BOA	USD	3,803,000		30,062			—		30,062
Totals									$	(18,520	)	$	3,081	$	(21,601	)

BHFTII-125

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premiums Received			Unrealized Appreciation/ (Depreciation)
ITRAXX.EUR.30.V1		(1.000	%)		Quarterly		12/20/23		0.527	%		EUR	1,125,000	$	(23,803	)	$	(13,098	)	$	(10,705	)
ITRAXX.XOVER.31.V1		(5.000	%)		Quarterly		06/20/24		2.490	%		EUR	1,755,000		(215,355	)		(226,287	)		10,932
Totals														$	(239,158	)	$	(239,385	)	$	227

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 March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CDX.NA.HY.32.V1		5.000	%		Quarterly		06/20/24		3.258	%		USD	7,455,000	$	495,497		$	458,376		$	37,121
CDX.NA.IG.32.V1		1.000	%		Quarterly		06/20/24		0.578	%		USD	3,200,000		56,822			49,951			6,871
CDX.EM.31.V1		1.000	%		Quarterly		06/20/24		1.913	%		USD	1,895,000		(69,711	)		(61,988	)		(7,723	)
Totals														$	482,608		$	446,339		$	36,269

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty		Implied Credit Spread at March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Received			Unrealized Appreciation/ (Depreciation)
Brazilian Government International Bond 4.250%, due 01/07/25		1.000	%		Quarterly		12/20/23		MSIP		1.584	%		USD	410,000	$	(10,972	)	$	(11,796	)	$	824
Mexico Government International Bond 4.150%, due 03/28/27		1.000	%		Quarterly		12/20/23		GSI		1.016	%		USD	410,000		(1,665	)		(6,345	)		4,680
Turkey Government International Bond 11.875%, due 01/15/30		1.000	%		Quarterly		12/20/23		MSIP		4.448	%		USD	155,000		(19,727	)		(13,220	)		(6,507	)
Turkey Government International Bond 11.875%, due 01/15/30		1.000	%		Quarterly		12/20/23		MSIP		4.448	%		USD	255,000		(32,453	)		(21,603	)		(10,850	)
Totals																$	(64,817	)	$	(52,964	)	$	(11,853	)

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 March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
ABX.HE.PEN.AAA.06		(0.110	%)		Monthly		05/25/46	JPMC		0.000	%		USD	166,374	$	(16,471	)	$	23,017		$	(39,488	)
PRIMEX.ARM.2		(4.580	%)		Monthly		12/25/37	MSIP		0.000	%		USD	301,573		—			(641	)		641
Totals															$	(16,471	)	$	22,376		$	(38,847	)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2019(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	166,374	$	(9,982	)	$	(4,517	)	$	(5,465	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	91,000		(21,192	)		(15,473	)		(5,719	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	265,000		(61,712	)		(39,508	)		(22,204	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	270,000		(62,876	)		(53,314	)		(9,562	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	460,000		(107,123	)		(85,670	)		(21,453	)

BHFTII-126

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	465,000	$	(108,287	)	$	(86,601	)	$	(21,686	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	465,000		(108,287	)		(86,601	)		(21,686	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	465,000		(108,287	)		(86,601	)		(21,686	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	CSI		0.000	%		USD	645,000		(150,204	)		(135,820	)		(14,384	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	GSI		0.000	%		USD	304,000		(70,794	)		(50,355	)		(20,439	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	GSI		0.000	%		USD	530,000		(123,424	)		(58,813	)		(64,611	)
CMBX.NA.BB.6		5.000	%		Monthly		05/11/63	MSIP		0.000	%		USD	190,000		(44,246	)		(35,385	)		(8,861	)
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	CSI		0.000	%		USD	550,000		(91,461	)		(156,166	)		64,705
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	GSI		0.000	%		USD	241,000		(40,077	)		(59,417	)		19,340
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	GSI		0.000	%		USD	580,000		(96,450	)		(181,510	)		85,060
CMBX.NA.BB.8		5.000	%		Monthly		10/17/57	MSIP		0.000	%		USD	1,289,000		(214,352	)		(365,997	)		151,645
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	CSI		0.000	%		USD	185,000		(23,490	)		(26,509	)		3,019
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	DBAG		0.000	%		USD	170,000		(21,585	)		(25,789	)		4,204
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	GSI		0.000	%		USD	660,000		(83,802	)		(74,951	)		(8,851	)
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	MSIP		0.000	%		USD	90,000		(11,428	)		(8,031	)		(3,397	)
CMBX.NA.BBB-.6		3.000	%		Monthly		05/11/63	MSIP		0.000	%		USD	830,000		(105,386	)		(124,759	)		19,373
PRIMEX.ARM.2		4.580	%		Monthly		12/25/37	JPMC		0.000	%		USD	301,573		—			8,896			(8,896	)
Totals															$	(1,664,445	)	$	(1,752,891	)	$	88,446

(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)	Illiquid security. As of March 31, 2019, these securities represent 0.1% of net assets.

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
(HSBCU)—		HSBC Bank USA
(JPMC)—	JPMorgan Chase Bank N.A.
(MSIP)—	Morgan Stanley & Co. International plc
(NWM)—	NatWest Markets plc
(SSBT)—	State Street Bank and Trust

Currencies

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

BHFTII-127

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Glossary of Abbreviations—(Continued)

Index Abbreviations

(ABX.HE.PEN.AAA)—	Markit Asset-Backed Home Equity Penultimate AAA Rated 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
(CPURNSA)—	U.S. Consumer Price Index for All UrbanÜonsumers Non-Seasonally Adjusted
(EURIBOR)—	Euro Interbank Offered Rate
(FEDRC)—	U.S. Federal Funds Rate Compounded
(ICE)—	Intercontinental Exchange, Inc.
(ITRAXX.EUR)—	Markit iTraxx Europe Index

(ITRAXX.XOVER)—	Markit iTraxx Europe Crossover Index
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(PRIME)—	U.S. Federal Reserve Prime Rate
(PRIMEX.ARM)—	Markit PrimeX Adjustable Rate Mortgage Index

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
(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. A reconciliation of Level 3 securities, if any, will be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	27,898,003	$	—	$	—	$	27,898,003
Airlines		2,082,317		—		—		2,082,317
Banks		23,977,338		—		—		23,977,338
Beverages		15,718,456		—		—		15,718,456
Biotechnology		11,665,324		—		—		11,665,324
Capital Markets		21,345,274		—		—		21,345,274
Chemicals		15,577,980		—		—		15,577,980
Commercial Services & Supplies		5,290,370		—		—		5,290,370
Construction & Engineering		1,059,908		—		—		1,059,908
Construction Materials		827,723		—		—		827,723
Consumer Finance		6,493,195		—		—		6,493,195
Containers & Packaging		7,450,124		—		—		7,450,124
Diversified Consumer Services		678,371		—		—		678,371
Diversified Financial Services		5,008,419		—		—		5,008,419
Diversified Telecommunication Services		13,862,792		—		—		13,862,792
Electric Utilities		18,442,166		—		—		18,442,166
Electrical Equipment		2,537,969		—		—		2,537,969
Electronic Equipment, Instruments & Components		2,929,210		—		—		2,929,210
Energy Equipment & Services		4,959,463		—		—		4,959,463
Entertainment		13,278,445		—		—		13,278,445
Equity Real Estate Investment Trusts		26,345,962		—		—		26,345,962
Food & Staples Retailing		3,929,266		—		—		3,929,266
Food Products		3,287,182		—		—		3,287,182

BHFTII-128

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Health Care Equipment & Supplies	$	34,081,417	$	—	$	—	$	34,081,417
Health Care Providers & Services		20,263,501		—		—		20,263,501
Hotels, Restaurants & Leisure		16,920,836		—		—		16,920,836
Household Durables		2,130,896		—		—		2,130,896
Household Products		11,192,450		—		—		11,192,450
Independent Power and Renewable Electricity Producers		3,808,289		—		—		3,808,289
Industrial Conglomerates		5,628,124		—		—		5,628,124
Insurance		31,920,981		—		—		31,920,981
Interactive Media & Services		38,438,914		—		—		38,438,914
Internet & Direct Marketing Retail		44,939,411		—		—		44,939,411
IT Services		35,956,193		—		—		35,956,193
Life Sciences Tools & Services		8,237,056		—		—		8,237,056
Machinery		12,745,458		—		—		12,745,458
Marine		730,595		—		—		730,595
Media		18,360,117		—		—		18,360,117
Metals & Mining		1,773,488		—		—		1,773,488
Multi-Utilities		7,200,451		—		—		7,200,451
Oil, Gas & Consumable Fuels		37,327,118		3,129		0		37,330,247
Pharmaceuticals		35,518,937		—		—		35,518,937
Professional Services		7,866,438		—		—		7,866,438
Road & Rail		6,541,151		—		—		6,541,151
Semiconductors & Semiconductor Equipment		27,766,082		—		—		27,766,082
Software		53,206,625		—		—		53,206,625
Specialty Retail		15,179,812		—		—		15,179,812
Technology Hardware, Storage & Peripherals		13,167,828		—		—		13,167,828
Textiles, Apparel & Luxury Goods		10,688,016		—		—		10,688,016
Thrifts & Mortgage Finance		1,514,265		—		—		1,514,265
Tobacco		7,853,098		—		—		7,853,098
Trading Companies & Distributors		926,624		—		—		926,624
Total Common Stocks		746,529,428		3,129		0		746,532,557
Total U.S. Treasury & Government Agencies*		—		220,885,053		—		220,885,053
Corporate Bonds & Notes
Aerospace/Defense		—		1,862,151		—		1,862,151
Agriculture		—		5,710,311		—		5,710,311
Airlines		—		439,006		—		439,006
Apparel		—		51,687		—		51,687
Auto Manufacturers		—		3,377,359		—		3,377,359
Auto Parts & Equipment		—		57,210		—		57,210
Banks		—		41,276,509		0		41,276,509
Beverages		—		5,206,870		—		5,206,870
Biotechnology		—		448,777		—		448,777
Building Materials		—		240,038		—		240,038
Chemicals		—		4,252,831		—		4,252,831
Commercial Services		—		2,672,927		—		2,672,927
Computers		—		1,313,387		—		1,313,387
Distribution/Wholesale		—		51,000		—		51,000
Diversified Financial Services		—		3,342,910		—		3,342,910
Electric		—		7,367,740		—		7,367,740
Electronics		—		325,852		—		325,852
Engineering & Construction		—		1,826,936		—		1,826,936
Entertainment		—		162,200		—		162,200
Food		—		2,056,430		—		2,056,430
Food Service		—		199,176		—		199,176
Forest Products & Paper		—		580,539		—		580,539
Gas		—		94,881		—		94,881
Healthcare-Products		—		1,980,217		—		1,980,217
Healthcare-Services		—		2,211,458		—		2,211,458
Home Builders		—		317,821		—		317,821

BHFTII-129

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Insurance	$	—	$	1,470,603	$	—	$	1,470,603
Internet		—		2,501,789		—		2,501,789
Iron/Steel		—		1,403,430		—		1,403,430
Leisure Time		—		29,175		—		29,175
Lodging		—		130,712		—		130,712
Machinery-Construction & Mining		—		107,419		—		107,419
Media		—		9,243,652		—		9,243,652
Mining		—		889,059		—		889,059
Miscellaneous Manufacturing		—		210,371		—		210,371
Oil & Gas		—		7,558,345		—		7,558,345
Packaging & Containers		—		2,228,897		—		2,228,897
Pharmaceuticals		—		7,509,484		—		7,509,484
Pipelines		—		5,588,664		—		5,588,664
Real Estate Investment Trusts		—		783,798		—		783,798
Retail		—		1,986,456		—		1,986,456
Semiconductors		—		6,610,971		—		6,610,971
Software		—		1,369,805		—		1,369,805
Telecommunications		—		9,974,288		—		9,974,288
Transportation		—		1,301,012		—		1,301,012
Trucking & Leasing		—		30,319		—		30,319
Total Corporate Bonds & Notes		—		148,354,472		0		148,354,472
Asset-Backed Securities
Asset-Backed - Automobile		—		2,057,388		—		2,057,388
Asset-Backed - Home Equity		—		2,134,010		—		2,134,010
Asset-Backed - Other		—		85,155,620		0		85,155,620
Total Asset-Backed Securities		—		89,347,018		0		89,347,018
Total Mortgage-Backed Securities*		—		55,237,837		—		55,237,837
Floating Rate Loans
Aerospace/Defense		—		145,829		—		145,829
Auto Manufacturers		—		380,341		—		380,341
Building Materials		—		216,659		—		216,659
Chemicals		—		179,050		—		179,050
Commercial Services		—		1,497,434		—		1,497,434
Computers		—		204,649		—		204,649
Cosmetics/Personal Care		—		282,645		—		282,645
Diversified Consumer Services		—		94,161		—		94,161
Diversified Financial Services		—		175,628		—		175,628
Energy Equipment & Services		—		86,705		—		86,705
Entertainment		—		166,616		—		166,616
Food		—		97,599		—		97,599
Food Products		—		104,745		—		104,745
Healthcare-Products		—		94,607		—		94,607
Healthcare-Services		—		495,085		—		495,085
Insurance		—		697,370		—		697,370
Internet		—		74,743		—		74,743
Internet & Direct Marketing Retail		—		149,151		—		149,151
IT Services		—		195,815		—		195,815
Leisure Time		—		323,658		—		323,658
Life Sciences Tools & Services		—		63,211		—		63,211
Lodging		—		472,821		—		472,821
Machinery		—		96,966		—		96,966
Machinery-Construction & Mining		—		99,762		—		99,762
Machinery-Diversified		—		174,933		—		174,933
Media		—		327,120		—		327,120
Miscellaneous Manufacturing		—		107,491		—		107,491
Office/Business Equipment		—		141,848		—		141,848
Oil & Gas		—		562,533		0		562,533

BHFTII-130

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3			Total
Packaging & Containers	$	—		$	496,110		$	—		$	496,110
Pharmaceuticals		—			488,267			—			488,267
Real Estate Investment Trusts		—			192,596			—			192,596
Retail		—			592,162			183,245			775,407
Semiconductors & Semiconductor Equipment		—			63,112			—			63,112
Software		—			776,424			—			776,424
Telecommunications		—			623,327			—			623,327
Transportation		—			89,876			—			89,876
Total Floating Rate Loans		—			11,031,049			183,245			11,214,294
Total Foreign Government*		—			7,299,138			—			7,299,138
Total Municipals*		—			2,559,043			—			2,559,043
Total Short-Term Investments*		—			17,514,670			—			17,514,670
Total Securities Lending Reinvestments*		—			69,937,207			—			69,937,207
Total Purchased Options*		—			1,196,839			—			1,196,839
Total Investments	$	746,529,428		$	623,365,455		$	183,245		$	1,370,078,128
Collateral for Securities Loaned (Liability)	$	—		$	(69,901,514	)	$	—		$	(69,901,514	)
TBA Forward Sales Commitments	$	—		$	(35,083,968	)	$	—		$	(35,083,968	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	275,803		$	—		$	275,803
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(3,483	)		—			(3,483	)
Total Forward Contracts	$	—		$	272,320		$	—		$	272,320
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,061,839		$	—		$	—		$	1,061,839
Futures Contracts (Unrealized Depreciation)		(232,944	)		—			—			(232,944	)
Total Futures Contracts	$	828,895		$	—		$	—		$	828,895
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	161,405		$	—		$	161,405
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(273,618	)		—			(273,618	)
Total Centrally Cleared Swap Contracts	$	—		$	(112,213	)	$	—		$	(112,213	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	30,062		$	0		$	30,062
OTC Swap Contracts at Value (Liabilities)		—			(1,767,862	)		(26,453	)		(1,794,315	)
Total OTC Swap Contracts	$	—		$	(1,737,800	)	$	(26,453	)	$	(1,764,253	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

BHFTII-131

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—98.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—8.3%
General Dynamics Corp.		558,807	$	94,594,849
Lockheed Martin Corp. (a)		276,016		82,848,963
Northrop Grumman Corp. (a)		265,348		71,537,821
United Technologies Corp.		519,315		66,934,510
				315,916,143
Air Freight & Logistics—2.0%
United Parcel Service, Inc. - Class B (a)		683,688		76,395,297
Banks—2.1%
PNC Financial Services Group, Inc. (The)		650,161		79,748,748
Beverages—9.5%
Coca-Cola Co. (The)		2,903,046		136,036,736
Diageo plc		2,364,060		96,694,618
PepsiCo, Inc.		1,050,678		128,760,589
				361,491,943
Biotechnology—1.3%
Amgen, Inc.		264,151		50,183,407
Capital Markets—1.7%
BlackRock, Inc. (a)		148,395		63,419,571
Chemicals—5.1%
Ecolab, Inc. (a)		655,370		115,699,020
Linde plc		445,493		78,375,583
				194,074,603
Consumer Finance—2.5%
American Express Co.		853,587		93,297,059
Equity Real Estate Investment Trusts—6.2%
American Tower Corp. (a)		716,949		141,281,970
Public Storage (a)		428,572		93,334,410
				234,616,380
Food & Staples Retailing—2.7%
Costco Wholesale Corp. (a)		416,602		100,876,008
Health Care Equipment & Supplies—8.6%
Baxter International, Inc. (a)		1,244,801		101,214,769
Danaher Corp. (a)		885,900		116,956,518
Medtronic plc		1,207,884		110,014,075
				328,185,362
Health Care Providers & Services—2.5%
UnitedHealth Group, Inc.		389,109		96,211,091
Hotels, Restaurants & Leisure—3.8%
McDonald’s Corp.		766,559		145,569,554
Household Products—4.6%
Colgate-Palmolive Co.		1,550,266		106,255,232
Household Products—(Continued)
Procter & Gamble Co. (The) (a)		670,824		69,799,237
				176,054,469
Industrial Conglomerates—4.1%
3M Co. (a)		370,671		77,018,021
Honeywell International, Inc.		484,059		76,926,656
				153,944,677
Insurance—5.1%
Chubb, Ltd.		697,906		97,762,673
Marsh & McLennan Cos., Inc. (a)		1,020,111		95,788,423
				193,551,096
IT Services—6.3%
Accenture plc - Class A		515,558		90,748,519
Automatic Data Processing, Inc.		304,937		48,710,636
Visa, Inc. - Class A (a)		637,556		99,579,872
				239,039,027
Oil, Gas & Consumable Fuels—1.5%
Exxon Mobil Corp.		704,014		56,884,331
Pharmaceuticals—4.5%
Johnson & Johnson (a)		802,566		112,190,701
Merck & Co., Inc. (a)		704,157		58,564,738
				170,755,439
Road & Rail—5.0%
Canadian National Railway Co.		964,305		86,324,546
Union Pacific Corp. (a)		616,759		103,122,105
				189,446,651
Software—3.4%
Microsoft Corp.		1,082,157		127,629,597
Specialty Retail—4.0%
Home Depot, Inc. (The) (a)		296,681		56,930,117
TJX Cos., Inc. (The)		1,791,333		95,316,829
				152,246,946
Textiles, Apparel & Luxury Goods—3.9%
NIKE, Inc. - Class B		1,202,006		101,220,925
VF Corp.		539,428		46,881,688
				148,102,613
Total Common Stocks (Cost $2,841,348,839)				3,747,640,012
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 March 31, 2019 (Unaudited)

Short-Term Investments—1.3%

Security Description	Principal Amount*		Value
Repurchase Agreement—0.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $31,369,137; collateralized by U.S. Treasury Note at 2.000%, maturing 12/31/21, with a market value of $31,998,048.		31,366,001	$	31,366,001
U.S. Treasury—0.5%
U.S. Treasury Bill 2.359%, 05/16/19 (c)		18,178,300		18,124,390
Total Short-Term Investments (Cost $49,490,414)				49,490,391
Securities Lending Reinvestments (d)—9.0%
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (e)		3,000,000		3,000,000
Certificates of Deposit—5.3%
ABN AMRO Bank NV Zero Coupon, 07/05/19		2,973,698		2,979,060
Banco Santander S.A. 2.790%, 04/16/19		5,000,000		5,000,855
Bank of Nova Scotia
2.860%, SOFR + 0.430%, 05/16/19 (e)		4,000,000		3,999,997
2.967%, 3M LIBOR + 0.170%, 01/09/20 (e)		5,000,000		5,000,280
Barclays Bank plc 2.950%, 08/02/19		10,000,000		10,002,700
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (e)		2,000,000		1,999,988
2.784%, 3M LIBOR + 0.050%, 11/06/19 (e)		2,000,000		2,000,000
Canadian Imperial Bank of Commerce 2.734%, 1M LIBOR + 0.250%, 10/15/19 (e)		3,000,000		3,002,460
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (e)		7,000,000		7,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (e)		2,000,000		2,000,492
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (e)		10,000,000		10,004,430
2.995%, 3M LIBOR + 0.200%, 04/05/19 (e)		2,000,000		2,000,134
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (e)		5,000,000		5,000,260
Credit Suisse AG
2.620%, 04/01/19		5,000,000		5,000,070
2.860%, SOFR + 0.430%, 05/02/19 (e)		4,000,000		4,000,000
KBC Bank NV
Zero Coupon, 04/23/19		9,931,465		9,985,800
Mitsubishi UFJ Trust and Banking Corp.
Zero Coupon, 04/16/19		4,965,490		4,993,900
Zero Coupon, 06/13/19		1,986,748		1,989,485
2.643%, 1M LIBOR + 0.150%, 09/11/19 (e)		2,000,000		1,999,996
Mizuho Bank, Ltd., New York
2.652%, 1M LIBOR + 0.160%, 09/12/19 (e)		4,000,000		4,000,000
2.789%, 1M LIBOR + 0.300%, 05/01/19 (e)		10,000,000		10,001,970
2.908%, 04/03/19		4,757,569		4,749,585
Certificates of Deposit—(Continued)
MUFG Bank Ltd.
2.789%, 1M LIBOR + 0.300%, 05/01/19 (e)		3,000,000		3,000,537
2.800%, 07/16/19		3,000,000		3,001,854
Nationwide Building Society Zero Coupon, 06/24/19		9,907,587		9,936,889
Natixis New York 2.788%, 3M LIBOR + 0.090%, 05/10/19 (e)		2,500,000		2,500,535
Shizuoka Bank, Ltd. 2.600%, 05/07/19		4,000,000		4,000,180
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (e)		8,000,000		8,000,528
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (e)		5,005,769		5,002,840
2.899%, 3M LIBOR + 0.160%, 05/07/19 (e)		5,000,000		5,001,260
Standard Chartered plc 2.660%, 08/23/19		10,000,000		10,001,780
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (e)		9,500,000		9,502,175
Sumitomo Mitsui Banking Corp., New York 2.651%, 1M LIBOR + 0.170%, 08/07/19 (e)		3,000,053		3,000,528
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		2,971,701		2,989,140
Zero Coupon, 08/08/19		2,959,087		2,970,841
2.904%, 3M LIBOR + 0.100%, 07/08/19 (e)		5,000,000		4,999,990
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (e)		3,500,000		3,503,965
2.851%, 3M LIBOR + 0.100%, 04/30/19 (e)		3,500,000		3,500,945
2.940%, 1M LIBOR + 0.450%, 04/03/19 (e)		5,000,000		5,000,275
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (e)		1,000,000		1,000,410
Wells Fargo Bank N.A.
2.939%, 3M LIBOR + 0.140%, 07/11/19 (e)		4,000,000		3,999,686
2.975%, 3M LIBOR + 0.210%, 10/25/19 (e)		4,000,000		4,000,000
				201,625,820
Commercial Paper—2.0%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (e)		5,000,000		5,000,065
Bank of China, Ltd.
2.890%, 04/17/19		8,934,975		8,987,211
2.890%, 04/18/19		2,979,288		2,995,506
Barton Capital S.A. 2.650%, 05/02/19		1,490,063		1,496,370
First Abu Dhabi Bank 2.750%, 04/16/19		2,979,375		2,996,229
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (e)		12,000,000		12,000,000
Industrial & Commercial Bank of China, Corp. 2.880%, 04/18/19		4,964,000		4,992,605
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (e)		10,000,000		10,001,390
Matchpoint Finance plc 2.450%, 04/01/19		1,999,592		1,999,562
Sheffield Receivables Co. 2.850%, 06/24/19		2,960,337		2,980,848

BHFTII-133

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (e)		10,000,000	$	10,013,960
Toyota Motor Credit Corp. 2.620%, 08/29/19		11,845,420		11,869,380
				75,333,126
Repurchase Agreements—1.6%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $10,078,594; collateralized by various Common Stock with an aggregate market value of $11,002,760.		10,000,000		10,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $651,769; collateralized by various Common Stock with an aggregate market value of $715,000.		650,000		650,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,504,083; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $3,000,688; collateralized by various Common Stock with an aggregate market value of $3,300,001.		3,000,000		3,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $2,846,765; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $2,903,091.		2,846,167		2,846,167
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $7,880,427; collateralized by various Common Stock with an aggregate market value of $8,250,005.		7,500,000		7,500,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $9,004,550; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $9,746,676.		9,000,000		9,000,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd.
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $25,012,639; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $27,074,099.		25,000,000		25,000,000
				59,496,167
Time Deposit—0.0%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		1,000,000		1,000,000
Total Securities Lending Reinvestments (Cost $340,412,110)				340,455,113
Total Investments—109.0% (Cost $3,231,251,363)				4,137,585,516
Other assets and liabilities (net)—(9.0)%				(341,856,527	)
Net Assets—100.0%			$	3,795,728,989

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $335,824,637 and the collateral received consisted of cash in the amount of $340,108,383. 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)	The rate shown represents current yield to maturity.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(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 March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	315,916,143	$	—		$	—	$	315,916,143
Air Freight & Logistics		76,395,297		—			—		76,395,297
Banks		79,748,748		—			—		79,748,748
Beverages		264,797,325		96,694,618			—		361,491,943
Biotechnology		50,183,407		—			—		50,183,407
Capital Markets		63,419,571		—			—		63,419,571
Chemicals		194,074,603		—			—		194,074,603
Consumer Finance		93,297,059		—			—		93,297,059
Equity Real Estate Investment Trusts		234,616,380		—			—		234,616,380
Food & Staples Retailing		100,876,008		—			—		100,876,008
Health Care Equipment & Supplies		328,185,362		—			—		328,185,362
Health Care Providers & Services		96,211,091		—			—		96,211,091
Hotels, Restaurants & Leisure		145,569,554		—			—		145,569,554
Household Products		176,054,469		—			—		176,054,469
Industrial Conglomerates		153,944,677		—			—		153,944,677
Insurance		193,551,096		—			—		193,551,096
IT Services		239,039,027		—			—		239,039,027
Oil, Gas & Consumable Fuels		56,884,331		—			—		56,884,331
Pharmaceuticals		170,755,439		—			—		170,755,439
Road & Rail		189,446,651		—			—		189,446,651
Software		127,629,597		—			—		127,629,597
Specialty Retail		152,246,946		—			—		152,246,946
Textiles, Apparel & Luxury Goods		148,102,613		—			—		148,102,613
Total Common Stocks		3,650,945,394		96,694,618			—		3,747,640,012
Total Escrow Shares*		—		—			0		0
Total Short-Term Investments*		—		49,490,391			—		49,490,391
Total Securities Lending Reinvestments*		—		340,455,113			—		340,455,113
Total Investments	$	3,650,945,394	$	486,640,122		$	0	$	4,137,585,516
Collateral for Securities Loaned (Liability)	$	—	$	(340,108,383	)	$	—	$	(340,108,383	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the year ended March 31, 2019 is not presented.

BHFTII-135

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—97.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.6%
BWX Technologies, Inc. (a)		143,927	$	7,135,900
Airlines—0.7%
JetBlue Airways Corp. (b)		506,042		8,278,847
Banks—1.1%
Webster Financial Corp. (a)		267,419		13,550,121
Biotechnology—5.0%
BioMarin Pharmaceutical, Inc. (b)		138,146		12,271,509
Exact Sciences Corp. (a) (b)		123,197		10,671,324
Exelixis, Inc. (a) (b)		282,240		6,717,312
Incyte Corp. (b)		112,508		9,676,813
Neurocrine Biosciences, Inc. (a) (b)		12,880		1,134,728
Sage Therapeutics, Inc. (a) (b)		35,026		5,570,885
Seattle Genetics, Inc. (b)		174,473		12,778,403
				58,820,974
Building Products—0.6%
A.O. Smith Corp.		123,440		6,581,821
Capital Markets—5.3%
Evercore, Inc. - Class A		136,259		12,399,569
LPL Financial Holdings, Inc.		254,027		17,692,981
Moody’s Corp.		45,401		8,221,667
Nasdaq, Inc.		140,213		12,267,235
Raymond James Financial, Inc.		155,773		12,525,707
				63,107,159
Chemicals—3.2%
FMC Corp.		269,367		20,692,773
Sherwin-Williams Co. (The)		41,315		17,794,784
				38,487,557
Commercial Services & Supplies—4.3%
Cintas Corp. (a)		109,037		22,037,468
Waste Connections, Inc.		331,228		29,343,489
				51,380,957
Communications Equipment—0.7%
Arista Networks, Inc. (b)		24,977		7,854,267
Construction & Engineering—1.2%
KBR, Inc. (a)		765,258		14,608,775
Construction Materials—1.0%
Vulcan Materials Co. (a)		95,213		11,273,219
Containers & Packaging—2.4%
Ball Corp.		502,631		29,082,230
Distributors—0.8%
LKQ Corp. (b)		346,693		9,839,147
Diversified Consumer Services—1.1%
Bright Horizons Family Solutions, Inc. (b)		98,580		12,530,504
Electrical Equipment—0.7%
Rockwell Automation, Inc.		49,403		8,668,250
Electronic Equipment, Instruments & Components—0.9%
Amphenol Corp. - Class A		118,627		11,203,134
Entertainment—0.4%
Electronic Arts, Inc. (b)		50,269		5,108,838
Equity Real Estate Investment Trusts—1.1%
SBA Communications Corp. (b)		62,383		12,455,390
Health Care Equipment & Supplies—9.8%
ABIOMED, Inc. (b)		30,861		8,813,593
Align Technology, Inc. (b)		33,801		9,610,638
Cooper Cos., Inc. (The)		69,943		20,715,018
Edwards Lifesciences Corp. (b)		92,626		17,722,133
IDEXX Laboratories, Inc. (b)		32,136		7,185,610
Insulet Corp. (a) (b)		111,157		10,569,919
Merit Medical Systems, Inc. (a) (b)		141,603		8,755,314
STERIS plc (a) (b)		143,482		18,370,000
Teleflex, Inc.		48,803		14,746,314
				116,488,539
Health Care Providers & Services—1.2%
WellCare Health Plans, Inc. (b)		52,276		14,101,451
Hotels, Restaurants & Leisure—4.0%
Domino’s Pizza, Inc. (a)		28,136		7,261,902
Eldorado Resorts, Inc. (b)		543,619		25,381,571
Yum! Brands, Inc.		152,956		15,266,538
				47,910,011
Industrial Conglomerates—0.8%
Roper Technologies, Inc.		29,283		10,013,908
Insurance—1.1%
Aon plc		74,920		12,788,844
IT Services—9.0%
DXC Technology Co.		213,828		13,751,279
Global Payments, Inc.		296,018		40,412,377
InterXion Holding NV (b)		184,161		12,289,064
WEX, Inc. (b)		142,665		27,390,253
Worldpay, Inc. - Class A (b)		111,565		12,662,627
				106,505,600
Life Sciences Tools & Services—4.2%
Illumina, Inc. (b)		16,156		5,019,508
PRA Health Sciences, Inc. (b)		150,101		16,554,639
QIAGEN NV (b)		369,137		15,016,493
Waters Corp. (b)		54,491		13,715,930
				50,306,570

BHFTII-136

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Metals & Mining—1.1%
Allegheny Technologies, Inc. (a) (b)		519,403	$	13,281,135
Multiline Retail—2.2%
Dollar General Corp.		216,631		25,844,078
Oil, Gas & Consumable Fuels—1.3%
Concho Resources, Inc. (a)		68,037		7,549,386
Noble Energy, Inc. (a)		308,369		7,625,965
				15,175,351
Pharmaceuticals—0.2%
Nektar Therapeutics (a) (b)		69,570		2,337,552
Road & Rail—0.8%
Knight-Swift Transportation Holdings, Inc. (a)		300,960		9,835,373
Semiconductors & Semiconductor Equipment—7.5%
Advanced Micro Devices, Inc. (b)		385,954		9,849,546
Lam Research Corp.		66,239		11,857,443
Marvell Technology Group, Ltd. (a)		865,579		17,216,366
Microchip Technology, Inc. (a)		160,268		13,295,833
Monolithic Power Systems, Inc. (a)		50,499		6,842,110
Semtech Corp. (a) (b)		148,970		7,584,063
Universal Display Corp. (a)		30,750		4,700,138
Xilinx, Inc.		142,665		18,088,495
				89,433,994
Software—13.3%
2U, Inc. (a) (b)		225,096		15,948,052
Autodesk, Inc. (b)		100,211		15,614,878
Guidewire Software, Inc. (b)		64,514		6,268,180
Nutanix, Inc. - Class A (a) (b)		357,867		13,505,901
Palo Alto Networks, Inc. (b)		34,569		8,396,119
ServiceNow, Inc. (a) (b)		87,111		21,471,990
Splunk, Inc. (a) (b)		86,159		10,735,411
SS&C Technologies Holdings, Inc.		568,764		36,224,579
Tableau Software, Inc. - Class A (a) (b)		84,646		10,773,743
Workday, Inc. - Class A (a) (b)		102,440		19,755,554
				158,694,407
Specialty Retail—7.3%
Advance Auto Parts, Inc. (a)		50,085		8,540,995
Burlington Stores, Inc. (a) (b)		57,109		8,947,838
Carvana Co. (a) (b)		113,110		6,567,167
Floor & Decor Holdings, Inc. - Class A (a) (b)		215,442		8,880,519
O’Reilly Automotive, Inc. (b)		55,094		21,393,000
Ross Stores, Inc. (a)		162,648		15,142,529
Ulta Salon Cosmetics & Fragrance, Inc. (b)		47,966		16,727,183
				86,199,231
Textiles, Apparel & Luxury Goods—1.2%
Capri Holdings, Ltd. (b)		190,124		8,698,173
Under Armour, Inc. - Class A (a) (b)		241,582		5,107,043
				13,805,216

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—1.4%
Beacon Roofing Supply, Inc. (a) (b)		206,767	$	6,649,627
HD Supply Holdings, Inc. (b)		219,348		9,508,736
				16,158,363
Total Common Stocks (Cost $915,820,772)				1,158,846,713
Short-Term Investment—2.4%
Repurchase Agreement—2.4%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $28,724,836; collateralized by U.S. Treasury Note at 2.500%, maturing 01/15/22, with a market value of $29,300,128.		28,721,964		28,721,964
Total Short-Term Investments (Cost $28,721,964)				28,721,964
Securities Lending Reinvestments (c)—19.1%
Certificates of Deposit—11.4%
ABN AMRO Bank NV Zero Coupon, 07/05/19		3,964,930		3,972,080
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (d)		4,000,000		4,003,864
Bank of Nova Scotia 2.967%, 3M LIBOR + 0.170%, 01/09/20 (d)		3,000,000		3,000,168
Barclays Bank plc 2.950%, 08/02/19		3,000,000		3,000,810
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (d)		1,000,000		999,994
2.784%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,000
2.790%, 1M LIBOR + 0.300%, 06/04/19 (d)		4,000,000		4,001,480
Canadian Imperial Bank of Commerce 2.734%, 1M LIBOR + 0.250%, 10/15/19 (d)		4,000,000		4,003,280
Chiba Bank, Ltd. 2.580%, 06/03/19		2,000,000		1,999,874
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (d)		4,000,000		4,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (d)		1,000,000		1,000,246
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (d)		5,000,000		5,002,215
2.995%, 3M LIBOR + 0.200%, 04/05/19 (d)		3,000,000		3,000,201
Credit Suisse AG 2.620%, 04/01/19		6,000,000		6,000,084
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (d)		3,000,000		2,999,731
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		4,000,000		4,000,336
Mizuho Bank, Ltd., New York 2.908%, 04/03/19		2,003,187		1,999,825
Nationwide Building Society Zero Coupon, 06/24/19		4,953,794		4,968,444

BHFTII-137

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Natixis New York
2.788%, 3M LIBOR + 0.090%, 05/10/19 (d)		1,000,000	$	1,000,214
Nordea Bank New York 2.995%, 3M LIBOR + 0.200%, 04/05/19 (d)		5,000,000		5,002,167
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		7,000,000		7,003,934
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (d)		6,000,000		6,000,396
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (d)		5,005,769		5,002,840
2.899%, 3M LIBOR + 0.160%, 05/07/19 (d)		2,000,000		2,000,504
Standard Chartered plc 2.660%, 08/23/19		6,000,000		6,001,068
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (d)		8,000,000		8,000,304
Sumitomo Mitsui Trust Bank, Ltd.
2.600%, 07/05/19		5,000,000		5,000,255
2.904%, 3M LIBOR + 0.100%, 07/08/19 (d)		3,000,000		2,999,994
Svenska Handelsbanken AB
2.851%, 3M LIBOR + 0.100%, 04/30/19 (d)		5,000,000		5,001,350
2.873%, 1M LIBOR + 0.380%, 12/10/19 (d)		2,000,000		2,003,516
2.940%, 1M LIBOR + 0.450%, 04/03/19 (d)		2,000,000		2,000,110
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		5,000,000		5,002,570
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (d)		1,000,000		1,000,410
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (d)		7,000,000		6,999,450
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (d)		5,000,000		4,999,972
				134,971,686
Commercial Paper—3.9%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (d)		5,000,000		5,000,065
Bank of China, Ltd.
2.890%, 04/17/19		2,978,325		2,995,737
2.890%, 04/18/19		3,972,384		3,994,008
Barton Capital S.A. 2.650%, 05/02/19		1,986,750		1,995,160
China Construction Bank Corp. 2.860%, 04/18/19		2,978,550		2,995,743
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (d)		7,000,000		7,000,000
Industrial & Commercial Bank of China, Corp. 2.880%, 04/18/19		3,971,200		3,994,084
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (d)		5,000,000		5,000,695
LMA S.A. & LMA Americas, Corp. 2.750%, 08/05/19		1,972,194		1,981,004
Matchpoint Finance plc 2.890%, 05/08/19		3,941,879		3,988,236
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (d)		4,000,000		4,000,000
Commercial Paper—(Continued)
Toyota Motor Credit Corp. 2.620%, 08/29/19		3,948,473		3,956,460
				46,901,192
Repurchase Agreements—3.1%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $12,598,243; collateralized by various Common Stock with an aggregate market value of $13,753,449.		12,500,000		12,500,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $752,042; collateralized by various Common Stock with an aggregate market value of $825,000.		750,000		750,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $4,010,889; collateralized by various Common Stock with an aggregate market value of $4,400,001.		4,000,000		4,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $7,001,604; collateralized by various Common Stock with an aggregate market value of $7,700,002.		7,000,000		7,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $2,382,709; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $2,429,853.		2,382,209		2,382,209
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $1,576,085; collateralized by various Common Stock with an aggregate market value of $1,650,001.		1,500,000		1,500,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $1,511,554; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $1,310,301; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,392,763.		1,300,000		1,300,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $6,003,033; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $6,497,784.		6,000,000		6,000,000
				36,932,209

BHFTII-138

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—0.7%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000	$	2,000,000
Natixis New York 2.400%, 04/01/19		4,500,000		4,500,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
				8,500,000
Total Securities Lending Reinvestments (Cost $227,278,267)				227,305,087
Total Investments—119.0% (Cost $1,171,821,003)				1,414,873,764
Other assets and liabilities (net)—(19.0)%				(225,752,812	)
Net Assets—100.0%			$	1,189,120,952

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $229,217,344 and the collateral received consisted of cash in the amount of $227,109,645 and non-cash collateral with a value of $8,648,697. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe- keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,158,846,713	$	—		$	—	$	1,158,846,713
Total Short-Term Investment*		—		28,721,964			—		28,721,964
Total Securities Lending Reinvestments*		—		227,305,087			—		227,305,087
Total Investments	$	1,158,846,713	$	256,027,051		$	—	$	1,414,873,764
Collateral for Securities Loaned (Liability)	$	—	$	(227,109,645	)	$	—	$	(227,109,645	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-139

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—99.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.9%
Airbus SE		148,376	$	19,675,355
Boeing Co. (The)		211,629		80,719,533
Safran S.A.		246,336		33,800,493
				134,195,381
Automobiles—1.8%
Tesla, Inc. (a)		181,480		50,788,993
Banks—1.0%
JPMorgan Chase & Co.		260,373		26,357,559
Biotechnology—4.3%
Alexion Pharmaceuticals, Inc. (a)		322,447		43,588,385
BioMarin Pharmaceutical, Inc. (a)		298,118		26,481,822
Sage Therapeutics, Inc. (a) (b)		69,160		10,999,898
Vertex Pharmaceuticals, Inc. (a)		204,639		37,643,344
				118,713,449
Capital Markets—1.4%
S&P Global, Inc.		182,827		38,494,225
Entertainment—4.8%
Activision Blizzard, Inc.		519,277		23,642,682
Netflix, Inc. (a)		300,213		107,043,947
				130,686,629
Equity Real Estate Investment Trusts—1.6%
American Tower Corp.		107,652		21,213,903
Crown Castle International Corp.		177,448		22,713,344
				43,927,247
Food & Staples Retailing—1.9%
Costco Wholesale Corp.		213,321		51,653,547
Health Care Equipment & Supplies—3.2%
Danaher Corp.		168,658		22,266,229
Edwards Lifesciences Corp. (a)		121,598		23,265,345
Intuitive Surgical, Inc. (a)		75,632		43,154,107
				88,685,681
Health Care Providers & Services—1.0%
UnitedHealth Group, Inc.		112,069		27,710,181
Hotels, Restaurants & Leisure—2.1%
Chipotle Mexican Grill, Inc. (a)		40,833		29,004,088
Marriott International, Inc. - Class A (b)		229,301		28,683,262
				57,687,350
Interactive Media & Services—11.3%
Alphabet, Inc. - Class A (a)		65,194		76,726,167
Alphabet, Inc. - Class C (a)		65,310		76,628,876
Facebook, Inc. - Class A (a)		396,475		66,088,418
Tencent Holdings, Ltd.		1,952,849		89,795,074
				309,238,535
Internet & Direct Marketing Retail—9.8%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		505,335		92,198,371
Amazon.com, Inc. (a)		98,510		175,421,682
				267,620,053
IT Services—11.7%
Adyen NV (a)		33,271		26,097,684
MasterCard, Inc. - Class A		503,401		118,525,765
PayPal Holdings, Inc. (a)		485,145		50,377,457
Square, Inc. - Class A (a) (b)		434,199		32,530,189
Visa, Inc. - Class A (b)		600,990		93,868,628
				321,399,723
Life Sciences Tools & Services—1.7%
Illumina, Inc. (a) (b)		149,403		46,418,018
Personal Products—1.6%
Estee Lauder Cos., Inc. (The) - Class A		272,338		45,085,556
Pharmaceuticals—4.2%
AstraZeneca plc (ADR) (b)		1,387,542		56,098,323
Bristol-Myers Squibb Co. (b)		518,761		24,750,087
Merck & Co., Inc.		399,891		33,258,935
				114,107,345
Road & Rail—1.6%
Lyft, Inc. - Class A (a)		15,679		1,227,509
Union Pacific Corp.		255,589		42,734,481
				43,961,990
Semiconductors & Semiconductor Equipment—3.1%
Broadcom, Inc.		131,531		39,552,687
NVIDIA Corp.		255,352		45,851,005
				85,403,692
Software—16.8%
Adobe, Inc. (a)		292,719		78,006,686
Microsoft Corp.		1,165,527		137,462,255
Red Hat, Inc. (a)		89,649		16,378,872
Salesforce.com, Inc. (a) (b)		666,010		105,476,004
ServiceNow, Inc. (a)		113,770		28,043,167
Splunk, Inc. (a) (b)		290,737		36,225,830
Workday, Inc. - Class A (a) (b)		298,040		57,477,014
				459,069,828
Specialty Retail—1.3%
Home Depot, Inc. (The)		180,100		34,559,389
Technology Hardware, Storage & Peripherals—3.5%
Apple, Inc.		503,462		95,632,607
Textiles, Apparel & Luxury Goods—4.7%
Kering S.A.		73,067		42,020,832
lululemon athletica, Inc. (a)		186,569		30,573,062

BHFTII-140

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Textiles, Apparel & Luxury Goods—(Continued)
NIKE, Inc. - Class B		659,788	$	55,560,747
				128,154,641
Total Common Stocks (Cost $1,630,760,896)				2,719,551,619
Short-Term Investment—0.8%
Repurchase Agreement—0.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/2019 at 1.200%, due on 04/01/19 with a maturity value of $21,396,904; collateralized by U.S. Treasury Note at 2.125%, maturing 12/31/21, with a market value of $21,823,942.		21,394,764		21,394,764
Total Short-Term Investments (Cost $21,394,764)				21,394,764
Securities Lending Reinvestments (c)—13.8%
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (d)		3,000,000		3,000,000
Certificates of Deposit—8.6%
ABN AMRO Bank NV Zero Coupon, 07/05/19		9,912,326		9,930,200
Banco Santander S.A. 2.790%, 04/16/19		6,000,000		6,001,026
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (d)		8,000,000		8,007,728
Bank of Nova Scotia
2.860%, SOFR + 0.430%, 05/16/19 (d)		4,000,000		3,999,997
2.967%, 3M LIBOR + 0.170%, 01/09/20 (d)		5,000,000		5,000,280
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (d)		1,000,000		999,994
Canadian Imperial Bank of Commerce
2.734%, 1M LIBOR + 0.250%, 10/15/19 (d)		8,000,000		8,006,560
2.752%, 1M LIBOR + 0.270%, 07/19/19 (d)		2,000,000		2,001,222
Chiba Bank, Ltd.
2.620%, 06/04/19		10,000,000		10,000,010
2.620%, 06/05/19		5,000,000		4,999,725
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (d)		4,500,000		4,500,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (d)		2,000,000		2,000,492
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (d)		10,000,000		10,004,430
2.995%, 3M LIBOR + 0.200%, 04/05/19 (d)		3,000,000		3,000,201
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (d)		5,000,000		5,000,260
Credit Industriel et Commercial 2.887%, 3M LIBOR + 0.090%, 10/15/19 (d)		4,000,000		4,001,452
Credit Suisse AG
2.620%, 04/01/19		8,000,000		8,000,112
2.860%, SOFR + 0.430%, 05/02/19 (d)		4,000,000		4,000,000
Certificates of Deposit—(Continued)
Industrial & Commercial Bank of China, Ltd.
2.710%, 05/21/19		3,000,000		3,000,252
KBC Bank NV Zero Coupon, 04/23/19		7,945,172		7,988,640
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 06/21/19		2,979,971		2,982,366
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		3,973,484		3,983,391
MUFG Bank Ltd.
2.789%, 1M LIBOR + 0.300%, 05/01/19 (d)		4,000,000		4,000,716
2.800%, 07/16/19		4,000,000		4,002,472
Nationwide Building Society Zero Coupon, 06/24/19		4,953,794		4,968,444
Natixis New York
2.788%, 3M LIBOR + 0.090%, 05/10/19 (d)		3,000,000		3,000,642
2.910%, SOFR + 0.480%, 06/12/19 (d)		2,000,000		2,000,000
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		6,000,000		6,003,372
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (d)		11,000,000		11,000,726
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (d)		7,008,077		7,003,976
2.899%, 3M LIBOR + 0.160%, 05/07/19 (d)		3,000,000		3,000,756
Standard Chartered plc 2.660%, 08/23/19		14,000,000		14,002,492
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (d)		6,000,000		6,001,374
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (d)		7,000,000		7,000,266
Sumitomo Mitsui Banking Corp., New York
2.690%, 1M LIBOR + 0.200%, 04/03/19 (d)		2,000,016		2,000,032
2.692%, 1M LIBOR + 0.210%, 05/17/19 (d)		7,000,000		7,001,092
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		4,952,835		4,981,900
2.904%, 3M LIBOR + 0.100%, 07/08/19 (d)		5,000,000		4,999,990
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (d)		4,000,000		4,004,532
2.851%, 3M LIBOR + 0.100%, 04/30/19 (d)		5,000,000		5,001,350
2.873%, 1M LIBOR + 0.380%, 12/10/19 (d)		5,000,000		5,008,790
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		3,000,000		3,001,542
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (d)		10,000,000		9,999,943
				235,392,745
Commercial Paper — 2.7%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (d)		5,000,000		5,000,065
Bank of China, Ltd.
2.890%, 04/17/19		9,927,750		9,985,790
2.890%, 04/18/19		4,965,481		4,992,510
China Construction Bank Corp.
2.840%, 04/29/19		1,985,169		1,995,580
2.860%, 04/18/19		2,978,550		2,995,743

BHFTII-141

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper —(Continued)
Fairway Finance Corp. 2.600%, 05/07/19		1,986,711	$	1,994,446
Industrial & Commercial Bank of China, Corp.
2.880%, 04/18/19		2,978,400		2,995,563
2.920%, 04/15/19		3,969,502		3,994,976
ING Funding LLC
2.778%, 3M LIBOR + 0.040%, 11/04/19 (d)		5,000,000		5,000,695
Matchpoint Finance plc
2.450%, 04/01/19		1,999,592		1,999,562
2.890%, 05/08/19		3,941,879		3,988,236
Sheffield Receivables Co.
2.850%, 06/24/19		3,947,117		3,974,464
2.900%, SOFR + 0.470%, 05/30/19 (d)		4,000,000		4,000,000
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (d)		2,000,000		2,002,792
Toyota Motor Credit Corp. 2.620%, 08/29/19		14,806,775		14,836,725
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (d)		5,000,000		5,002,135
				74,759,282
Master Demand Notes—0.2%
Natixis Financial Products LLC 2.650%, OBFR + 0.250%, 04/01/19 (d)		4,000,000		4,000,000
Repurchase Agreements—1.7%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $15,117,892; collateralized by various Common Stock with an aggregate market value of $16,504,139.		15,000,000		15,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $6,016,333; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $87,774; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $89,511.		87,756		87,756
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $83,388; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $85,036.		83,369		83,369
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $200,042; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $204,000.		200,000		200,000
Repurchase Agreements—(Continued)
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $2,343,905; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $2,390,281.		2,343,413		2,343,413
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $8,931,151; collateralized by various Common Stock with an aggregate market value of $9,350,006.		8,500,000		8,500,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $4,534,663; collateralized by various Common Stock with an aggregate market value of $4,950,000.		4,500,000		4,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $10,005,056; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $10,829,640.		10,000,000		10,000,000
				46,714,538
Time Deposits—0.5%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		5,000,000		5,000,000
DNB Bank ASA 2.350%, 04/01/19		5,000,000		5,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
				14,000,000
Total Securities Lending Reinvestments (Cost $377,808,375)				377,866,565
Total Investments—113.9% (Cost $2,029,964,035)				3,118,812,948
Other assets and liabilities (net)—(13.9)%				(379,824,226	)
Net Assets—100.0%			$	2,738,988,722

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $376,467,751 and the collateral received consisted of cash in the amount of $377,427,137 and non-cash collateral with a value of $3,980,031. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.

BHFTII-142

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	80,719,533	$	53,475,848		$	—	$	134,195,381
Automobiles		50,788,993		—			—		50,788,993
Banks		26,357,559		—			—		26,357,559
Biotechnology		118,713,449		—			—		118,713,449
Capital Markets		38,494,225		—			—		38,494,225
Entertainment		130,686,629		—			—		130,686,629
Equity Real Estate Investment Trusts		43,927,247		—			—		43,927,247
Food & Staples Retailing		51,653,547		—			—		51,653,547
Health Care Equipment & Supplies		88,685,681		—			—		88,685,681
Health Care Providers & Services		27,710,181		—			—		27,710,181
Hotels, Restaurants & Leisure		57,687,350		—			—		57,687,350
Interactive Media & Services		219,443,461		89,795,074			—		309,238,535
Internet & Direct Marketing Retail		267,620,053		—			—		267,620,053
IT Services		295,302,039		26,097,684			—		321,399,723
Life Sciences Tools & Services		46,418,018		—			—		46,418,018
Personal Products		45,085,556		—			—		45,085,556
Pharmaceuticals		114,107,345		—			—		114,107,345
Road & Rail		43,961,990		—			—		43,961,990
Semiconductors & Semiconductor Equipment		85,403,692		—			—		85,403,692
Software		459,069,828		—			—		459,069,828
Specialty Retail		34,559,389		—			—		34,559,389
Technology Hardware, Storage & Peripherals		95,632,607		—			—		95,632,607
Textiles, Apparel & Luxury Goods		86,133,809		42,020,832			—		128,154,641
Total Common Stocks		2,508,162,181		211,389,438			—		2,719,551,619
Total Short-Term Investment*		—		21,394,764			—		21,394,764
Total Securities Lending Reinvestments*		—		377,866,565			—		377,866,565
Total Investments	$	2,508,162,181	$	610,650,767		$	—	$	3,118,812,948
Collateral for Securities Loaned (Liability)	$	—	$	(377,427,137	)	$	—	$	(377,427,137	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-143

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—98.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.2%
AAR Corp.		32,013	$	1,040,743
Aerojet Rocketdyne Holdings, Inc. (a) (b)		80,335		2,854,302
Astronics Corp. (a)		29,349		960,299
BWX Technologies, Inc. (b)		28,779		1,426,863
Hexcel Corp.		24,428		1,689,440
Mercury Systems, Inc. (a)		22,708		1,455,129
				9,426,776
Air Freight & Logistics—0.2%
Air Transport Services Group, Inc. (a)		41,534		957,359
Auto Components—1.4%
Cooper Tire & Rubber Co. (b)		53,136		1,588,235
Fox Factory Holding Corp. (a)		30,032		2,098,936
LCI Industries		17,255		1,325,529
Stoneridge, Inc. (a)		31,053		896,190
				5,908,890
Banks—11.0%
Ameris Bancorp		40,766		1,400,312
BancorpSouth Bank (b)		83,888		2,367,319
Bank OZK		39,676		1,149,810
Bryn Mawr Bank Corp.		59,197		2,138,788
Carolina Financial Corp.		27,114		937,873
Cathay General Bancorp (b)		73,024		2,476,244
CenterState Bank Corp.		95,934		2,284,189
Chemical Financial Corp.		78,119		3,215,378
CVB Financial Corp.		128,647		2,708,019
First Financial Bancorp		90,458		2,176,420
First Financial Bankshares, Inc.		27,618		1,595,768
Home BancShares, Inc. (b)		129,552		2,276,229
Iberiabank Corp.		35,130		2,519,172
PacWest Bancorp (b)		53,740		2,021,161
Pinnacle Financial Partners, Inc.		37,880		2,072,036
Popular, Inc.		57,298		2,986,945
Prosperity Bancshares, Inc. (b)		42,944		2,965,713
Signature Bank		15,796		2,022,994
Texas Capital Bancshares, Inc. (a)		15,434		842,542
Triumph Bancorp, Inc. (a)		78,995		2,321,663
UMB Financial Corp. (b)		15,635		1,001,265
Wintrust Financial Corp.		40,182		2,705,454
				46,185,294
Beverages—0.8%
Cott Corp.		156,629		2,288,350
MGP Ingredients, Inc. (b)		16,559		1,277,527
				3,565,877
Biotechnology—2.0%
Aimmune Therapeutics, Inc. (a) (b)		33,085		739,450
Argenx SE (ADR) (a)		11,552		1,442,152
Biohaven Pharmaceutical Holding Co., Ltd. (a)		21,091		1,085,554
Blueprint Medicines Corp. (a)		13,766		1,101,968
Genomic Health, Inc. (a)		22,172		1,553,149
Invitae Corp. (a)		36,155		846,750
Biotechnology—(Continued)
Myriad Genetics, Inc. (a) (b)		27,767		921,864
Xencor, Inc. (a)		24,057		747,210
				8,438,097
Building Products—2.1%
AAON, Inc. (b)		25,890		1,195,600
American Woodmark Corp. (a)		16,146		1,334,144
Armstrong World Industries, Inc.		37,848		3,005,888
Masonite International Corp. (a)		12,541		625,671
Resideo Technologies, Inc. (a)		65,821		1,269,687
Trex Co., Inc. (a)		25,960		1,597,059
				9,028,049
Capital Markets—1.0%
Donnelley Financial Solutions, Inc. (a)		122,388		1,821,133
Stifel Financial Corp.		46,489		2,452,760
				4,273,893
Chemicals—2.7%
AdvanSix, Inc. (a)		78,722		2,249,088
Ashland Global Holdings, Inc.		22,086		1,725,579
Cabot Corp.		40,908		1,703,000
Ingevity Corp. (a)		32,881		3,472,562
WR Grace & Co.		26,112		2,037,781
				11,188,010
Commercial Services & Supplies—2.5%
Clean Harbors, Inc. (a)		33,861		2,422,077
KAR Auction Services, Inc.		70,931		3,639,470
Kimball International, Inc. - Class B		74,366		1,051,535
Viad Corp.		58,200		3,276,078
				10,389,160
Communications Equipment—0.6%
Digi International, Inc. (a)		95,393		1,208,629
Viavi Solutions, Inc. (a)		119,300		1,476,934
				2,685,563
Construction & Engineering—0.6%
Arcosa, Inc.		43,088		1,316,338
Primoris Services Corp.		51,997		1,075,298
				2,391,636
Consumer Finance—0.2%
PRA Group, Inc. (a) (b)		32,295		865,829
Distributors—0.6%
Core-Mark Holding Co., Inc.		16,902		627,571
Pool Corp.		12,599		2,078,457
				2,706,028
Diversified Consumer Services—2.8%
Adtalem Global Education, Inc. (a)		23,401		1,083,934
Bright Horizons Family Solutions, Inc. (a)		11,752		1,493,797

BHFTII-144

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Consumer Services—(Continued)
Chegg, Inc. (a) (b)		46,498	$	1,772,504
frontdoor, Inc. (a)		47,665		1,640,629
Grand Canyon Education, Inc. (a)		19,672		2,252,641
Laureate Education, Inc. - Class A (a)		107,584		1,610,532
ServiceMaster Global Holdings, Inc. (a)		38,385		1,792,580
				11,646,617
Diversified Financial Services—0.5%
Cannae Holdings, Inc. (a)		89,256		2,165,351
Diversified Telecommunication Services—0.6%
Bandwidth, Inc. - Class A (a)		11,446		766,424
Cogent Communications Holdings, Inc.		31,572		1,712,781
				2,479,205
Electric Utilities—0.9%
ALLETE, Inc.		48,118		3,956,743
Electrical Equipment—0.9%
Generac Holdings, Inc. (a)		32,757		1,678,141
TPI Composites, Inc. (a) (b)		74,238		2,124,692
				3,802,833
Electronic Equipment, Instruments & Components—2.8%
II-VI, Inc. (a)		20,337		757,350
Kimball Electronics, Inc. (a)		31,991		495,541
Littelfuse, Inc.		23,346		4,260,178
Methode Electronics, Inc.		57,982		1,668,722
Novanta, Inc. (a)		14,795		1,253,580
Rogers Corp. (a) (b)		5,543		880,672
TTM Technologies, Inc. (a)		122,752		1,439,881
Vishay Intertechnology, Inc. (b)		60,772		1,122,459
				11,878,383
Energy Equipment & Services—1.6%
Apergy Corp. (a)		90,105		3,699,711
C&J Energy Services, Inc. (a)		42,185		654,711
Cactus, Inc. - Class A (a)		43,133		1,535,535
KLX Energy Services Holdings, Inc. (a)		42,127		1,059,073
				6,949,030
Entertainment—0.6%
IMAX Corp. (a)		62,538		1,418,362
Liberty Braves Group - Class C (a)		35,611		988,917
				2,407,279
Equity Real Estate Investment Trusts—4.8%
American Campus Communities, Inc.		38,783		1,845,295
Americold Realty Trust		54,159		1,652,391
Corepoint Lodging, Inc.		64,095		715,941
CubeSmart		63,463		2,033,355
CyrusOne, Inc. (b)		37,480		1,965,451
JBG SMITH Properties		57,281		2,368,569
National Retail Properties, Inc. (b)		31,847		1,764,005
Equity Real Estate Investment Trusts—(Continued)
Retail Opportunity Investments Corp.		134,574		2,333,513
Rexford Industrial Realty, Inc.		65,662		2,351,356
Ryman Hospitality Properties, Inc.		25,498		2,096,956
Sabra Health Care REIT, Inc.		57,386		1,117,306
				20,244,138
Food & Staples Retailing—0.3%
Chefs’ Warehouse, Inc. (The) (a) (b)		36,406		1,130,406
Food Products—2.7%
Darling Ingredients, Inc. (a)		78,726		1,704,418
Freshpet, Inc. (a) (b)		43,133		1,824,094
J&J Snack Foods Corp.		15,915		2,527,939
Nomad Foods, Ltd. (a)		162,805		3,329,362
Post Holdings, Inc. (a)		19,974		2,185,156
				11,570,969
Health Care Equipment & Supplies—4.1%
AtriCure, Inc. (a)		51,331		1,375,158
Avanos Medical, Inc. (a)		45,994		1,963,024
CONMED Corp.		13,175		1,095,897
Insulet Corp. (a) (b)		21,341		2,029,316
iRhythm Technologies, Inc. (a) (b)		18,843		1,412,471
Merit Medical Systems, Inc. (a) (b)		25,936		1,603,623
Penumbra, Inc. (a) (b)		7,644		1,123,744
Quidel Corp. (a) (b)		27,030		1,769,654
Tactile Systems Technology, Inc. (a)		2,918		153,837
Varex Imaging Corp. (a)		76,538		2,593,107
Wright Medical Group NV (a) (b)		67,312		2,116,962
				17,236,793
Health Care Providers & Services—1.4%
Amedisys, Inc. (a)		12,686		1,563,676
AMN Healthcare Services, Inc. (a)		30,701		1,445,710
BioTelemetry, Inc. (a)		25,908		1,622,359
LHC Group, Inc. (a)		11,146		1,235,646
				5,867,391
Health Care Technology—1.0%
HMS Holdings Corp. (a)		34,054		1,008,339
Medidata Solutions, Inc. (a) (b)		25,224		1,847,406
Teladoc Health, Inc. (a) (b)		25,501		1,417,855
				4,273,600
Hotels, Restaurants & Leisure—2.8%
Churchill Downs, Inc.		30,462		2,749,500
Cracker Barrel Old Country Store, Inc. (b)		5,394		871,724
Marriott Vacations Worldwide Corp.		28,405		2,655,868
Planet Fitness, Inc. - Class A (a)		30,828		2,118,500
PlayAGS, Inc. (a)		57,137		1,367,288
Wingstop, Inc.		28,597		2,174,230
				11,937,110

BHFTII-145

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Durables—0.4%
Helen of Troy, Ltd. (a) (b)		15,831	$	1,835,763
Independent Power and Renewable Electricity Producers—1.3%
NextEra Energy Partners LP (b)		56,995		2,658,247
Vistra Energy Corp.		103,957		2,706,001
				5,364,248
Industrial Conglomerates—0.5%
Raven Industries, Inc.		59,151		2,269,624
Insurance—3.6%
Employers Holdings, Inc.		75,036		3,009,694
First American Financial Corp.		47,071		2,424,157
Goosehead Insurance, Inc. - Class A (b)		40,307		1,123,759
Kinsale Capital Group, Inc. (b)		31,347		2,149,464
ProAssurance Corp.		40,245		1,392,879
Reinsurance Group of America, Inc.		19,152		2,719,201
Stewart Information Services Corp.		19,533		833,864
Trupanion, Inc. (a) (b)		45,123		1,477,327
				15,130,345
Interactive Media & Services—0.2%
IAC/InterActiveCorp (a)		3,568		749,672
Internet & Direct Marketing Retail—0.5%
Duluth Holdings, Inc. - Class B (a) (b)		34,771		828,941
Qurate Retail, Inc. (a)		79,242		1,266,287
				2,095,228
IT Services—6.1%
Conduent, Inc. (a)		145,416		2,011,103
CSG Systems International, Inc.		39,060		1,652,238
Euronet Worldwide, Inc. (a)		38,226		5,450,645
EVERTEC, Inc.		37,245		1,035,783
Evo Payments, Inc. - Class A (a)		53,486		1,553,768
Genpact, Ltd.		75,014		2,638,993
InterXion Holding NV (a)		29,842		1,991,357
Perspecta, Inc.		117,487		2,375,587
Virtusa Corp. (a)		32,869		1,756,848
WEX, Inc. (a)		16,345		3,138,077
WNS Holdings, Ltd. (ADR) (a)		38,144		2,031,931
				25,636,330
Leisure Products—0.2%
Malibu Boats, Inc. - Class A (a)		24,403		965,871
Life Sciences Tools & Services—1.4%
Cambrex Corp. (a)		54,836		2,130,379
NeoGenomics, Inc. (a) (b)		62,953		1,288,018
PRA Health Sciences, Inc. (a)		22,077		2,434,872
				5,853,269
Machinery—5.0%
Alamo Group, Inc.		14,965		1,495,602
Albany International Corp. - Class A		26,124		1,870,217
Machinery—(Continued)
Altra Industrial Motion Corp.		57,600		1,788,480
Chart Industries, Inc. (a)		16,941		1,533,500
Columbus McKinnon Corp.		60,543		2,079,652
Harsco Corp. (a)		175,443		3,536,931
John Bean Technologies Corp.		13,507		1,241,158
Kadant, Inc.		24,343		2,141,210
Kornit Digital, Ltd. (a) (b)		49,541		1,179,076
Proto Labs, Inc. (a)		13,680		1,438,315
RBC Bearings, Inc. (a)		21,404		2,721,947
				21,026,088
Marine—0.3%
Kirby Corp. (a)		16,749		1,258,017
Media—1.8%
GCI Liberty, Inc. - Class A (a)		53,435		2,971,521
Gray Television, Inc. (a)		149,817		3,200,091
John Wiley & Sons, Inc. - Class A		30,665		1,356,006
				7,527,618
Metals & Mining—0.3%
Ferroglobe Representation & Warranty Insurance Trust (a) (c)		141,548		0
Haynes International, Inc.		37,282		1,223,968
				1,223,968
Multi-Utilities—1.2%
MDU Resources Group, Inc.		81,083		2,094,374
NorthWestern Corp.		42,410		2,986,088
				5,080,462
Multiline Retail—0.5%
Big Lots, Inc. (b)		50,203		1,908,718
Oil, Gas & Consumable Fuels—0.8%
PDC Energy, Inc. (a) (b)		22,803		927,626
SRC Energy, Inc. (a)		196,779		1,007,509
Viper Energy Partners LP		42,325		1,403,497
				3,338,632
Pharmaceuticals—1.6%
Catalent, Inc. (a)		55,032		2,233,749
Horizon Pharma plc (a)		46,654		1,233,065
MyoKardia, Inc. (a)		13,680		711,223
Prestige Consumer Healthcare, Inc. (a) (b)		29,494		882,166
Supernus Pharmaceuticals, Inc. (a)		24,818		869,623
Zogenix, Inc. (a)		13,593		747,751
				6,677,577
Professional Services—2.0%
ASGN, Inc. (a)		17,680		1,122,503
Huron Consulting Group, Inc. (a)		21,229		1,002,433
ICF International, Inc.		16,880		1,284,230
Insperity, Inc.		22,037		2,725,096

BHFTII-146

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Professional Services—(Continued)
Korn/Ferry International		48,732	$	2,182,219
				8,316,481
Real Estate Management & Development—0.3%
Essential Properties Realty Trust, Inc.		64,388		1,256,854
Road & Rail—0.9%
Genesee & Wyoming, Inc. - Class A (a) (b)		25,532		2,224,858
Old Dominion Freight Line, Inc.		11,243		1,623,377
				3,848,235
Semiconductors & Semiconductor Equipment—2.9%
Advanced Energy Industries, Inc. (a)		36,828		1,829,615
Mellanox Technologies, Ltd. (a)		32,940		3,898,778
MKS Instruments, Inc.		12,669		1,178,851
Monolithic Power Systems, Inc. (b)		12,884		1,745,653
Silicon Laboratories, Inc. (a)		16,343		1,321,495
Versum Materials, Inc.		41,668		2,096,317
				12,070,709
Software—6.5%
ACI Worldwide, Inc. (a)		25,473		837,298
Benefitfocus, Inc. (a) (b)		23,391		1,158,322
CommVault Systems, Inc. (a)		25,981		1,682,010
Cornerstone OnDemand, Inc. (a)		19,430		1,064,375
Envestnet, Inc. (a)		30,119		1,969,481
Five9, Inc. (a)		37,495		1,980,861
Globant S.A. (a)		16,283		1,162,606
Guidewire Software, Inc. (a)		19,811		1,924,837
HubSpot, Inc. (a) (b)		11,293		1,877,010
LogMeIn, Inc.		18,215		1,459,021
Mimecast, Ltd. (a)		35,195		1,666,483
Q2 Holdings, Inc. (a)		28,714		1,988,732
Rapid7, Inc. (a)		37,357		1,890,638
RealPage, Inc. (a) (b)		32,869		1,994,820
RingCentral, Inc. - Class A (a)		16,438		1,772,016
TiVo Corp. (b)		64,133		597,720
Verint Systems, Inc. (a)		38,164		2,284,497
				27,310,727
Specialty Retail—1.3%
Aaron’s, Inc.		40,040		2,106,104
Genesco, Inc. (a)		15,874		723,061
Sally Beauty Holdings, Inc. (a) (b)		36,356		669,314
Urban Outfitters, Inc. (a) (b)		62,904		1,864,474
				5,362,953
Technology Hardware, Storage & Peripherals—0.3%
Cray, Inc. (a)		42,608		1,109,938
Textiles, Apparel & Luxury Goods—1.1%
Columbia Sportswear Co.		19,388		2,019,842
Crocs, Inc. (a) (b)		42,191		1,086,418
Security Description	Shares/ Principal Amount*		Value
Textiles, Apparel & Luxury Goods—(Continued)
Steven Madden, Ltd.		41,326		1,398,472
				4,504,732
Thrifts & Mortgage Finance—1.5%
Essent Group, Ltd. (a)		19,422		843,886
Federal Agricultural Mortgage Corp. - Class C		21,608		1,565,067
Meta Financial Group, Inc.		62,223		1,224,549
NMI Holdings, Inc. - Class A (a)		29,522		763,734
OceanFirst Financial Corp.		78,960		1,899,778
				6,297,014
Trading Companies & Distributors—0.3%
SiteOne Landscape Supply, Inc. (a) (b)		24,360		1,392,174
Total Common Stocks (Cost $298,847,342)				414,967,556
Short-Term Investment—1.7%
Repurchase Agreement—1.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $7,207,072; collateralized by U.S. Treasury Note at 2.125%, maturing 12/31/21, with a market value of $7,353,229.		7,206,351		7,206,351
Total Short-Term Investments (Cost $7,206,351)				7,206,351
Securities Lending Reinvestments (d)—15.0%
Certificates of Deposit—5.2%
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (e)		1,000,000		1,000,355
Barclays Bank plc 2.950%, 08/02/19		1,000,000		1,000,270
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (e)		1,500,000		1,499,991
2.784%, 3M LIBOR + 0.050%, 11/06/19 (e)		1,000,000		1,000,000
2.790%, 1M LIBOR + 0.300%, 06/04/19 (e)		1,000,000		1,000,370
Credit Agricole S.A. 2.807%, 1M LIBOR + 0.320%, 05/21/19 (e)		1,000,000		1,000,258
Mitsubishi UFJ Trust and Banking Corp.
Zero Coupon, 04/16/19		1,986,196		1,997,560
Zero Coupon, 05/08/19		993,073		997,210
Mizuho Bank, Ltd., New York 2.652%, 1M LIBOR + 0.160%, 09/12/19 (e)		1,000,000		1,000,000
2.789%, 1M LIBOR + 0.300%, 05/01/19 (e)		2,000,000		2,000,394
Nordea Bank New York 2.750%, 06/17/19		1,000,000		1,000,378
Shizuoka Bank, Ltd. 2.600%, 05/07/19		1,000,000		1,000,045
Standard Chartered plc 3.009%, 3M LIBOR + 0.230%, 04/24/19 (e)		1,000,000		1,000,124

BHFTII-147

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (e)		2,000,000	$	2,000,076
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 08/08/19		986,362		990,280
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (e)		1,000,000		1,000,410
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (e)		2,500,000		2,499,804
				21,987,525
Commercial Paper—2.4%
Bank of China, Ltd. 2.890%, 04/17/19		992,775		998,579
Fairway Finance Corp. 2.600%, 05/07/19		993,356		997,223
First Abu Dhabi Bank 2.750%, 04/16/19		993,125		998,743
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (e)		1,000,000		1,000,000
ING Funding LLC 2.807%, 3M LIBOR + 0.110%, 05/10/19 (e)		3,000,000		3,000,741
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (e)		1,000,000		1,001,396
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (e)		2,000,000		2,000,854
				9,997,536
Repurchase Agreements—4.8%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $4,031,438; collateralized by various Common Stock with an aggregate market value of $4,401,104.		4,000,000		4,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $200,544; collateralized by various Common Stock with an aggregate market value of $220,000.		200,000		200,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $600,122; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $612,000.		600,000		600,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $600,140; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $612,000.		600,000		600,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $500,104; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $510,000.		500,000		500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $1,000,229; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,820,543; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,856,564.		1,820,160		1,820,160
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $2,364,128; collateralized by various Common Stock with an aggregate market value of $2,475,002.		2,250,000		2,250,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $201,541; collateralized by various Common Stock with an aggregate market value of $220,000.		200,000		200,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $907,132; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $964,220.		900,000		900,000
Societe Generale
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $1,122,241; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,223,422.		1,100,000		1,100,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $3,078,647; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,336,605.		3,000,000		3,000,000
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $2,874,380; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,114,165.		2,800,000		2,800,000
				19,970,160

BHFTII-148

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—2.6%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000	$	2,000,000
DZ Bank AG New York 2.430%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		2,000,000		2,000,000
Skandi New York 2.380%, 04/01/19		3,000,000		3,000,000
Svenska, New York 2.360%, 04/01/19		2,000,000		2,000,000
				11,000,000
Total Securities Lending Reinvestments (Cost $62,950,354)				62,955,221
Total Investments—115.2% (Cost $369,004,047)				485,129,128
Other assets and liabilities (net)—(15.2)%				(63,907,087	)
Net Assets—100.0%			$	421,222,041

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $64,020,086 and the collateral received consisted of cash in the amount of $62,915,048 and non-cash collateral with a value of $2,337,796. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Illiquid security. As of March 31, 2019, these securities represent 0.0% of net assets.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(LIBOR)—	London Interbank Offered Rate

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	9,426,776	$	—	$	—	$	9,426,776
Air Freight & Logistics		957,359		—		—		957,359
Auto Components		5,908,890		—		—		5,908,890
Banks		46,185,294		—		—		46,185,294
Beverages		3,565,877		—		—		3,565,877
Biotechnology		8,438,097		—		—		8,438,097
Building Products		9,028,049		—		—		9,028,049
Capital Markets		4,273,893		—		—		4,273,893
Chemicals		11,188,010		—		—		11,188,010
Commercial Services & Supplies		10,389,160		—		—		10,389,160
Communications Equipment		2,685,563		—		—		2,685,563
Construction & Engineering		2,391,636		—		—		2,391,636
Consumer Finance		865,829		—		—		865,829
Distributors		2,706,028		—		—		2,706,028
Diversified Consumer Services		11,646,617		—		—		11,646,617

BHFTII-149

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Diversified Financial Services	$	2,165,351	$	—		$	—	$	2,165,351
Diversified Telecommunication Services		2,479,205		—			—		2,479,205
Electric Utilities		3,956,743		—			—		3,956,743
Electrical Equipment		3,802,833		—			—		3,802,833
Electronic Equipment, Instruments & Components		11,878,383		—			—		11,878,383
Energy Equipment & Services		6,949,030		—			—		6,949,030
Entertainment		2,407,279		—			—		2,407,279
Equity Real Estate Investment Trusts		20,244,138		—			—		20,244,138
Food & Staples Retailing		1,130,406		—			—		1,130,406
Food Products		11,570,969		—			—		11,570,969
Health Care Equipment & Supplies		17,236,793		—			—		17,236,793
Health Care Providers & Services		5,867,391		—			—		5,867,391
Health Care Technology		4,273,600		—			—		4,273,600
Hotels, Restaurants & Leisure		11,937,110		—			—		11,937,110
Household Durables		1,835,763		—			—		1,835,763
Independent Power and Renewable Electricity Producers		5,364,248		—			—		5,364,248
Industrial Conglomerates		2,269,624		—			—		2,269,624
Insurance		15,130,345		—			—		15,130,345
Interactive Media & Services		749,672		—			—		749,672
Internet & Direct Marketing Retail		2,095,228		—			—		2,095,228
IT Services		25,636,330		—			—		25,636,330
Leisure Products		965,871		—			—		965,871
Life Sciences Tools & Services		5,853,269		—			—		5,853,269
Machinery		21,026,088		—			—		21,026,088
Marine		1,258,017		—			—		1,258,017
Media		7,527,618		—			—		7,527,618
Metals & Mining		1,223,968		0			—		1,223,968
Multi-Utilities		5,080,462		—			—		5,080,462
Multiline Retail		1,908,718		—			—		1,908,718
Oil, Gas & Consumable Fuels		3,338,632		—			—		3,338,632
Pharmaceuticals		6,677,577		—			—		6,677,577
Professional Services		8,316,481		—			—		8,316,481
Real Estate Management & Development		1,256,854		—			—		1,256,854
Road & Rail		3,848,235		—			—		3,848,235
Semiconductors & Semiconductor Equipment		12,070,709		—			—		12,070,709
Software		27,310,727		—			—		27,310,727
Specialty Retail		5,362,953		—			—		5,362,953
Technology Hardware, Storage & Peripherals		1,109,938		—			—		1,109,938
Textiles, Apparel & Luxury Goods		4,504,732		—			—		4,504,732
Thrifts & Mortgage Finance		6,297,014		—			—		6,297,014
Trading Companies & Distributors		1,392,174		—			—		1,392,174
Total Common Stocks		414,967,556		0			—		414,967,556
Total Short-Term Investment*		—		7,206,351			—		7,206,351
Total Securities Lending Reinvestments*		—		62,955,221			—		62,955,221
Total Investments	$	414,967,556	$	70,161,572		$	—	$	485,129,128
Collateral for Securities Loaned (Liability)	$	—	$	(62,915,048	)	$	—	$	(62,915,048	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-150

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—97.1% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.6%
AAR Corp.		76,656	$	2,492,087
Astronics Corp. (a)		70,278		2,299,496
Hexcel Corp.		58,497		4,045,652
Mercury Systems, Inc. (a)		54,376		3,484,414
				12,321,649
Air Freight & Logistics—0.7%
Air Transport Services Group, Inc. (a)		99,454		2,292,415
Auto Components—0.6%
Stoneridge, Inc. (a)		74,357		2,145,943
Banks—1.3%
Chemical Financial Corp.		52,595		2,164,810
UMB Financial Corp. (b)		37,438		2,397,530
				4,562,340
Beverages—0.9%
MGP Ingredients, Inc. (b)		39,653		3,059,229
Biotechnology—5.9%
Aimmune Therapeutics, Inc. (a) (b)		79,223		1,770,634
Argenx SE (ADR) (a)		27,664		3,453,574
Biohaven Pharmaceutical Holding Co., Ltd. (a)		50,503		2,599,390
Blueprint Medicines Corp. (a)		32,965		2,638,848
Genomic Health, Inc. (a)		53,092		3,719,095
Invitae Corp. (a)		86,574		2,027,563
Myriad Genetics, Inc. (a) (b)		66,490		2,207,468
Xencor, Inc. (a)		57,606		1,789,242
				20,205,814
Building Products—1.9%
AAON, Inc. (b)		61,996		2,862,975
Trex Co., Inc. (a) (b)		62,161		3,824,145
				6,687,120
Chemicals—1.3%
Ingevity Corp. (a)		41,289		4,360,531
Construction & Engineering—0.7%
Primoris Services Corp.		124,510		2,574,867
Distributors—1.4%
Pool Corp.		30,169		4,976,980
Diversified Consumer Services—5.0%
Bright Horizons Family Solutions, Inc. (a)		28,140		3,576,875
Chegg, Inc. (a) (b)		111,340		4,244,281
Grand Canyon Education, Inc. (a)		47,107		5,394,222
Laureate Education, Inc. - Class A (a)		257,613		3,856,467
				17,071,845
Diversified Telecommunication Services—1.7%
Bandwidth, Inc. - Class A (a)		27,416		1,835,775
Diversified Telecommunication Services—(Continued)
Cogent Communications Holdings, Inc.		75,600		4,101,300
				5,937,075
Electrical Equipment—1.2%
Generac Holdings, Inc. (a)		78,436		4,018,276
Electronic Equipment, Instruments & Components—0.9%
Novanta, Inc. (a)		35,429		3,001,899
Energy Equipment & Services—1.6%
Apergy Corp. (a)		41,936		1,721,892
Cactus, Inc. - Class A (a)		103,285		3,676,946
				5,398,838
Entertainment—1.0%
IMAX Corp. (a)		149,751		3,396,353
Food & Staples Retailing—0.8%
Chefs’ Warehouse, Inc. (The) (a) (b)		87,175		2,706,784
Food Products—1.3%
Freshpet, Inc. (a)		103,285		4,367,923
Health Care Equipment & Supplies—7.6%
AtriCure, Inc. (a)		122,915		3,292,893
CONMED Corp.		31,550		2,624,329
Insulet Corp. (a) (b)		51,104		4,859,479
iRhythm Technologies, Inc. (a) (b)		45,120		3,382,195
Merit Medical Systems, Inc. (a) (b)		62,107		3,840,076
Penumbra, Inc. (a) (b)		18,305		2,691,018
Tactile Systems Technology, Inc. (a) (b)		6,989		368,460
Wright Medical Group NV (a)		161,181		5,069,143
				26,127,593
Health Care Providers & Services—3.1%
Amedisys, Inc. (a)		30,377		3,744,269
BioTelemetry, Inc. (a)		62,037		3,884,757
LHC Group, Inc. (a)		26,687		2,958,521
				10,587,547
Health Care Technology—3.0%
HMS Holdings Corp. (a)		81,543		2,414,488
Medidata Solutions, Inc. (a) (b)		60,401		4,423,769
Teladoc Health, Inc. (a) (b)		61,064		3,395,159
				10,233,416
Hotels, Restaurants & Leisure—3.9%
Planet Fitness, Inc. - Class A (a)		73,820		5,072,911
PlayAGS, Inc. (a)		136,754		3,272,523
Wingstop, Inc.		68,477		5,206,306
				13,551,740
Insurance—3.3%
Goosehead Insurance, Inc. - Class A (b)		96,518		2,690,922
Kinsale Capital Group, Inc.		75,062		5,147,001

BHFTII-151

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Trupanion, Inc. (a) (b)		108,048	$	3,537,492
				11,375,415
Internet & Direct Marketing Retail—0.6%
Duluth Holdings, Inc. - Class B (a) (b)		83,262		1,984,966
IT Services—7.1%
Euronet Worldwide, Inc. (a)		29,561		4,215,103
EVERTEC, Inc.		89,184		2,480,207
Evo Payments, Inc. - Class A (a)		128,071		3,720,462
InterXion Holding NV (a)		71,459		4,768,459
Virtusa Corp. (a)		78,706		4,206,836
WNS Holdings, Ltd. (ADR) (a)		91,337		4,865,522
				24,256,589
Leisure Products—0.7%
Malibu Boats, Inc. - Class A (a)		58,434		2,312,818
Life Sciences Tools & Services—2.6%
NeoGenomics, Inc. (a) (b)		150,745		3,084,243
PRA Health Sciences, Inc. (a)		52,864		5,830,370
				8,914,613
Machinery—6.3%
Albany International Corp. - Class A		62,555		4,478,313
Chart Industries, Inc. (a)		40,564		3,671,853
Harsco Corp. (a)		178,533		3,599,225
Kornit Digital, Ltd. (a) (b)		118,629		2,823,370
Proto Labs, Inc. (a)		32,758		3,444,176
RBC Bearings, Inc. (a)		29,817		3,791,828
				21,808,765
Oil, Gas & Consumable Fuels—0.6%
PDC Energy, Inc. (a) (b)		54,603		2,221,250
Pharmaceuticals—2.5%
Horizon Pharma plc (a)		111,712		2,952,548
MyoKardia, Inc. (a)		32,860		1,708,392
Supernus Pharmaceuticals, Inc. (a)		59,429		2,082,392
Zogenix, Inc. (a)		32,627		1,794,811
				8,538,143
Professional Services—1.6%
Huron Consulting Group, Inc. (a)		50,835		2,400,429
ICF International, Inc.		40,420		3,075,153
				5,475,582
Semiconductors & Semiconductor Equipment—3.0%
MKS Instruments, Inc.		30,335		2,822,672
Monolithic Power Systems, Inc. (b)		30,853		4,180,273
Silicon Laboratories, Inc. (a)		39,135		3,164,456
				10,167,401
Software—14.2%
Benefitfocus, Inc. (a)		56,011		2,773,665
Cornerstone OnDemand, Inc. (a)		46,528		2,548,804
Envestnet, Inc. (a)		72,122		4,716,058
Five9, Inc. (a)		89,784		4,743,289
Globant S.A. (a)		38,991		2,783,957
Guidewire Software, Inc. (a)		47,439		4,609,173
HubSpot, Inc. (a) (b)		27,043		4,494,817
Mimecast, Ltd. (a)		84,276		3,990,469
Q2 Holdings, Inc. (a)		68,756		4,762,040
Rapid7, Inc. (a)		89,453		4,527,216
RealPage, Inc. (a)		78,706		4,776,667
RingCentral, Inc. - Class A (a)		39,364		4,243,439
				48,969,594
Textiles, Apparel & Luxury Goods—3.1%
Columbia Sportswear Co.		46,424		4,836,452
Crocs, Inc. (a)		101,028		2,601,471
Steven Madden, Ltd. (b)		98,958		3,348,739
				10,786,662
Thrifts & Mortgage Finance—1.1%
Essent Group, Ltd. (a)		46,507		2,020,729
NMI Holdings, Inc. - Class A (a)		70,693		1,828,828
				3,849,557
Trading Companies & Distributors—1.0%
SiteOne Landscape Supply, Inc. (a) (b)		58,331		3,333,617
Total Common Stocks (Cost $233,840,469)				333,581,149
Short-Term Investment—3.3%
Repurchase Agreement—3.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $11,308,775; collateralized by U.S. Treasury Note at 2.500%, maturing 01/15/22, with a market value of $11,537,717.		11,307,644		11,307,644
Total Short-Term Investments (Cost $11,307,644)				11,307,644
Securities Lending Reinvestments (c)—16.1%
Certificates of Deposit—5.7%
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (d)		1,000,000		1,000,355
Barclays Bank plc 2.950%, 08/02/19		1,000,000		1,000,270
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (d)		1,000,000		999,994
2.784%, 3M LIBOR + 0.050%, 11/06/19 (d)		1,000,000		1,000,000
2.790%, 1M LIBOR + 0.300%, 06/04/19 (d)		1,000,000		1,000,370

BHFTII-152

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Chiba Bank, Ltd. 2.580%, 06/03/19		1,000,000	$	999,937
Credit Agricole S.A. 2.807%, 1M LIBOR + 0.320%, 05/21/19 (d)		1,000,000		1,000,258
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 04/16/19		1,986,196		1,997,560
Mizuho Bank, Ltd., New York 2.652%, 1M LIBOR + 0.160%, 09/12/19 (d)		1,000,000		1,000,000
2.789%, 1M LIBOR + 0.300%, 05/01/19 (d)		1,000,000		1,000,197
Nordea Bank New York 2.750%, 06/17/19		1,000,000		1,000,378
Shizuoka Bank, Ltd. 2.600%, 05/07/19		1,000,000		1,000,045
Standard Chartered plc 3.009%, 3M LIBOR + 0.230%, 04/24/19 (d)		1,000,000		1,000,124
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (d)		1,500,000		1,500,057
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (d)		1,500,000		1,500,615
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (d)		2,000,000		1,999,843
2.975%, 3M LIBOR + 0.210%, 10/25/19 (d)		500,000		500,000
				19,500,003
Commercial Paper—2.1%
Bank of China, Ltd. 2.890%, 04/17/19		992,775		998,579
Fairway Finance Corp. 2.600%, 05/07/19		1,986,711		1,994,446
First Abu Dhabi Bank 2.750%, 04/16/19		993,125		998,743
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (d)		1,000,000		1,000,000
ING Funding LLC 2.807%, 3M LIBOR + 0.110%, 05/10/19 (d)		2,000,000		2,000,494
				6,992,262
Repurchase Agreements—6.0%
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $200,544; collateralized by various Common Stock with an aggregate market value of $220,000.		200,000		200,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $600,122; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $612,000.		600,000		600,000
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $500,117; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $510,000.		500,000		500,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $500,104; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $510,000.		500,000		500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $1,000,229; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,613,236; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,645,155.		1,612,897		1,612,897
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $3,414,852; collateralized by various Common Stock with an aggregate market value of $3,575,002.		3,250,000		3,250,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $503,851; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $705,547; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $749,949.		700,000		700,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $1,000,506; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,082,964.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $1,500,758; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,624,446.		1,500,000		1,500,000

BHFTII-153

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $714,154; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $778,541.		700,000	$	700,000
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $2,361,098; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $2,558,064.		2,300,000		2,300,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $1,334,080; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,445,862.		1,300,000		1,300,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $1,500,741; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,668,303.		1,500,000		1,500,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $1,200,593; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,334,642.		1,200,000		1,200,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $1,200,593; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,334,642.		1,200,000		1,200,000
				20,562,897
Time Deposits—2.3%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		1,000,000		1,000,000
Time Deposits—(Continued)
DZ Bank AG New York 2.430%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		1,000,000		1,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		1,000,000		1,000,000
				8,000,000
Total Securities Lending Reinvestments (Cost $55,052,966)				55,055,162
Total Investments—116.5% (Cost $300,201,079)				399,943,955
Other assets and liabilities (net)—(16.5)%				(56,510,812	)
Net Assets—100.0%			$	343,433,143

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $57,453,646 and the collateral received consisted of cash in the amount of $55,021,705 and non-cash collateral with a value of $3,485,417. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(LIBOR)—	London Interbank Offered Rate

BHFTII-154

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	333,581,149	$	—		$	—	$	333,581,149
Total Short-Term Investment*		—		11,307,644			—		11,307,644
Total Securities Lending Reinvestments*		—		55,055,162			—		55,055,162
Total Investments	$	333,581,149	$	66,362,806		$	—	$	399,943,955
Collateral for Securities Loaned (Liability)	$	—	$	(55,021,705	)	$	—	$	(55,021,705	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-155

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

U.S. Treasury & Government Agencies—68.3% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—28.4%
Fannie Mae 15 Yr. Pool
2.500%, 12/01/27		2,389,974	$	2,383,185
2.500%, 02/01/28		1,926,549		1,921,077
2.500%, 07/01/28		3,372,029		3,365,386
2.500%, 10/01/28		2,083,988		2,079,883
2.500%, 03/01/30		2,282,382		2,273,280
2.500%, 09/01/31		3,578,781		3,557,955
2.500%, 01/01/32		1,156,459		1,149,730
2.500%, 04/01/32		2,434,523		2,419,698
2.500%, 09/01/32		822,011		817,006
3.000%, 01/01/27		871,253		881,194
3.000%, 02/01/27		1,454,826		1,471,426
3.000%, 03/01/27		755,084		764,130
3.000%, 01/01/29		3,576,239		3,618,090
3.000%, 10/01/29		1,688,901		1,707,676
3.000%, 06/01/30		1,918,791		1,939,464
3.000%, 02/01/33		4,389,786		4,429,873
3.500%, 02/01/26		1,186,462		1,213,329
3.500%, 03/01/26		567,851		580,866
3.500%, 05/01/29		1,507,092		1,544,204
3.500%, 08/01/32		735,261		752,388
4.000%, 04/01/19		319		319
4.000%, 05/01/19		1,433		1,433
4.000%, 01/01/20		25,765		25,772
4.000%, 06/01/24		154,652		159,255
4.000%, 11/01/24		973,624		1,002,607
4.500%, 05/01/19		1,744		1,742
4.500%, 08/01/24		257,214		265,559
4.500%, 06/01/25		490,999		508,310
5.000%, 02/01/20		21,392		21,486
5.000%, 01/01/22		38,381		39,122
5.000%, 02/01/24		217,082		222,365
Fannie Mae 20 Yr. Pool
3.000%, 02/01/33		1,355,801		1,375,927
3.000%, 08/01/35		1,938,523		1,950,080
3.000%, 05/01/36		2,714,271		2,728,932
3.500%, 04/01/32		1,198,807		1,229,350
3.500%, 09/01/35		1,805,310		1,849,438
3.500%, 07/01/38		2,366,926		2,418,763
4.000%, 02/01/31		524,990		546,684
4.000%, 03/01/38		1,752,232		1,815,292
4.000%, 07/01/38		2,340,713		2,424,936
4.500%, 08/01/30		315,622		332,705
5.000%, 02/01/24		99,108		104,697
5.000%, 09/01/25		90,166		95,286
5.500%, 07/01/23		58,279		62,251
5.500%, 01/01/24		39,082		41,746
5.500%, 07/01/24		108,187		115,687
5.500%, 07/01/25		102,444		109,515
7.000%, 10/01/21		2,994		3,106
Fannie Mae 30 Yr. Pool
3.000%, 08/01/42		1,280,201		1,281,906
3.000%, 09/01/42		1,663,598		1,665,815
3.000%, 11/01/42		1,965,774		1,968,393
3.000%, 12/01/42		4,042,622		4,048,009
3.000%, 01/01/43		986,157		987,471
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
3.000%, 02/01/43		3,855,412		3,860,548
3.000%, 03/01/43		4,063,618		4,066,491
3.000%, 05/01/43		2,974,863		2,976,966
3.000%, 07/01/43		8,181,129		8,186,911
3.000%, 09/01/43		1,563,379		1,564,484
3.000%, 05/01/45		2,658,656		2,655,050
3.000%, 05/01/46		2,932,927		2,921,073
3.000%, 06/01/46		3,830,894		3,815,411
3.000%, 08/01/46		3,854,919		3,839,339
3.000%, 02/01/47		8,655,274		8,620,293
3.500%, 12/01/40		1,508,789		1,543,042
3.500%, 03/01/42		992,502		1,014,181
3.500%, 04/01/42		2,283,752		2,333,637
3.500%, 05/01/42		2,430,709		2,483,803
3.500%, 06/01/42		1,783,534		1,822,492
3.500%, 08/01/42		1,157,598		1,182,884
3.500%, 09/01/42		3,626,545		3,705,761
3.500%, 10/01/42		1,867,056		1,907,839
3.500%, 01/01/43		1,445,239		1,476,807
3.500%, 02/01/43		2,314,122		2,364,670
3.500%, 04/01/43		2,744,052		2,802,502
3.500%, 06/01/43		1,393,415		1,419,394
3.500%, 08/01/44		1,832,462		1,867,436
3.500%, 02/01/45		2,453,461		2,500,287
3.500%, 03/01/45		4,051,262		4,123,309
3.500%, 04/01/45		4,561,709		4,639,996
3.500%, 09/01/45		8,568,691		8,712,230
3.500%, 11/01/45		2,862,813		2,910,770
3.500%, 01/01/46		3,365,892		3,422,277
3.500%, 03/01/46		3,301,598		3,354,506
3.500%, 05/01/46		2,656,576		2,699,148
3.500%, 04/01/47		7,349,865		7,459,650
3.500%, 11/01/47		6,212,187		6,304,979
3.500%, 03/01/48		5,145,831		5,215,581
4.000%, 08/01/39		749,976		779,832
4.000%, 09/01/39		717,643		746,213
4.000%, 12/01/39		854,435		888,450
4.000%, 06/01/40		850,573		884,620
4.000%, 09/01/40		575,747		598,793
4.000%, 12/01/40		4,031,983		4,193,373
4.000%, 01/01/41		2,094,452		2,178,289
4.000%, 02/01/41		2,656,121		2,762,440
4.000%, 12/01/41		984,216		1,023,058
4.000%, 02/01/42		1,119,318		1,163,491
4.000%, 09/01/43		1,521,283		1,581,178
4.000%, 02/01/44		2,555,043		2,655,639
4.000%, 05/01/44		1,670,985		1,731,402
4.000%, 08/01/44		2,519,199		2,610,284
4.000%, 10/01/44		1,451,113		1,503,580
4.000%, 11/01/44		2,827,755		2,922,571
4.000%, 01/01/45		2,279,836		2,362,267
4.000%, 03/01/45		1,560,484		1,612,388
4.000%, 10/01/45		2,667,534		2,756,260
4.000%, 03/01/47		1,041,662		1,076,382
4.000%, 05/01/47		1,488,741		1,538,371

BHFTII-156

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.000%, 06/01/47		7,851,943	$	8,113,702
4.000%, 07/01/47		1,963,523		2,028,981
4.000%, 10/01/47		2,505,113		2,588,625
4.000%, 05/01/48		3,726,516		3,833,102
4.000%, 06/01/48		3,775,182		3,883,159
4.000%, 07/01/48		2,848,225		2,929,690
4.000%, 09/01/48		1,606,419		1,652,365
4.000%, 10/01/48		2,414,086		2,485,968
4.000%, 11/01/48		2,926,963		3,010,680
4.500%, 08/01/33		172,329		181,697
4.500%, 10/01/33		157,642		166,212
4.500%, 04/01/34		64,174		67,690
4.500%, 01/01/39		55,331		58,554
4.500%, 07/01/39		1,116,473		1,181,818
4.500%, 09/01/39		1,626,301		1,721,485
4.500%, 10/01/39		710,954		752,565
4.500%, 05/01/40		991,721		1,054,694
4.500%, 08/01/40		1,555,266		1,641,234
4.500%, 11/01/40		803,589		848,007
4.500%, 12/01/40		1,518,660		1,602,604
4.500%, 04/01/41		3,689,283		3,898,581
4.500%, 05/01/41		905,338		957,732
4.500%, 03/01/44		973,267		1,023,940
4.500%, 08/01/47		2,171,705		2,266,017
4.500%, 08/01/48		5,877,484		6,136,180
4.500%, 12/01/48		2,923,166		3,051,828
5.000%, 07/01/33		86,163		92,560
5.000%, 08/01/33		333,113		357,848
5.000%, 09/01/33		137,177		147,363
5.000%, 10/01/33		1,405,428		1,509,949
5.000%, 03/01/34		162,227		174,272
5.000%, 04/01/34		387,064		415,793
5.000%, 05/01/34		49,611		53,292
5.000%, 09/01/34		192,841		207,151
5.000%, 02/01/35		68,679		73,775
5.000%, 04/01/35		76,655		82,349
5.000%, 05/01/35		39,886		42,849
5.000%, 11/01/35		98,309		105,612
5.000%, 03/01/36		376,023		403,956
5.000%, 07/01/37		325,434		351,343
5.000%, 01/01/39		286,026		308,798
5.000%, 04/01/40		1,040,316		1,114,065
5.000%, 07/01/41		672,509		720,218
5.000%, 04/01/49		3,000,000		3,178,453
5.500%, 10/01/32		28,414		30,468
5.500%, 02/01/33		70,064		75,776
5.500%, 03/01/33		296,985		321,200
5.500%, 08/01/33		484,216		523,696
5.500%, 10/01/33		58,214		62,960
5.500%, 12/01/33		512,719		554,523
5.500%, 02/01/34		99,586		107,844
5.500%, 03/01/34		91,654		99,254
5.500%, 04/01/34		36,910		39,970
5.500%, 06/01/34		146,691		158,855
5.500%, 09/01/34		133,432		144,496
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.500%, 12/01/34		97,069		105,118
5.500%, 01/01/35		106,141		114,942
5.500%, 04/01/35		46,510		50,457
5.500%, 06/01/35		104,000		112,827
5.500%, 01/01/37		132,251		143,468
5.500%, 05/01/37		104,818		114,035
5.500%, 05/01/38		65,374		71,148
5.500%, 06/01/38		75,414		82,074
5.500%, 07/01/38		35,209		38,319
6.000%, 08/01/28		1,948		1,957
6.000%, 11/01/28		453		482
6.000%, 12/01/28		577		629
6.000%, 06/01/31		32,809		34,833
6.000%, 09/01/32		58,649		65,207
6.000%, 01/01/33		14,019		15,480
6.000%, 02/01/33		52,597		57,773
6.000%, 03/01/33		74,672		77,406
6.000%, 04/01/33		187,974		200,323
6.000%, 05/01/33		139,155		148,454
6.000%, 05/01/34		70,028		73,120
6.000%, 09/01/34		113,950		121,861
6.000%, 11/01/34		196,516		219,566
6.000%, 01/01/35		62,193		68,116
6.000%, 07/01/36		30,741		34,270
6.000%, 09/01/36		92,792		103,930
6.000%, 07/01/37		45,684		48,355
6.000%, 08/01/37		133,816		149,151
6.000%, 09/01/37		266,201		296,656
6.000%, 10/01/37		84,791		94,404
6.000%, 05/01/38		371,340		414,643
6.000%, 12/01/38		88,453		98,692
6.500%, 05/01/28		30,131		33,376
6.500%, 12/01/28		102,397		109,015
6.500%, 03/01/29		2,256		2,468
6.500%, 04/01/29		18,257		20,244
6.500%, 05/01/29		4,264		4,758
6.500%, 08/01/29		734		800
6.500%, 05/01/30		12,968		13,327
6.500%, 09/01/31		3,625		3,815
6.500%, 06/01/32		15,224		17,272
6.500%, 10/01/33		60,693		65,547
6.500%, 10/01/34		174,507		196,715
6.500%, 10/01/37		49,359		55,179
7.000%, 06/01/26		296		311
7.000%, 06/01/28		6,165		6,300
7.000%, 10/01/29		5,628		6,399
7.000%, 12/01/29		3,013		3,166
7.000%, 06/01/32		43,135		48,970
7.000%, 10/01/37		105,350		122,298
7.500%, 09/01/25		2,738		3,018
7.500%, 06/01/26		2,410		2,685
7.500%, 07/01/29		7,031		7,987
7.500%, 10/01/29		3,984		4,237
8.000%, 11/01/29		81		95
8.000%, 05/01/30		15,054		16,185

BHFTII-157

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
8.000%, 11/01/30		1,874	$	2,183
8.000%, 01/01/31		1,208		1,379
8.000%, 02/01/31		3,558		4,203
Freddie Mac 15 Yr. Gold Pool
2.500%, 12/01/27		1,042,655		1,040,043
2.500%, 02/01/28		1,771,148		1,768,256
2.500%, 04/01/28		1,540,517		1,538,002
2.500%, 12/01/29		2,285,457		2,278,345
2.500%, 01/01/31		3,031,650		3,020,577
2.500%, 01/01/32		4,663,347		4,637,773
3.000%, 03/01/27		810,082		819,901
3.000%, 05/01/27		1,101,498		1,115,489
3.000%, 11/01/28		1,376,431		1,393,528
3.000%, 12/01/29		2,462,559		2,491,739
3.000%, 05/01/31		2,978,247		3,009,941
3.000%, 10/01/32		1,651,452		1,667,738
3.500%, 12/01/25		847,562		868,274
3.500%, 05/01/26		301,691		308,910
3.500%, 09/01/30		1,979,377		2,030,131
4.000%, 06/01/19		5,585		5,583
4.000%, 05/01/25		434,324		447,913
4.000%, 08/01/25		206,475		212,936
4.000%, 10/01/25		236,012		243,418
4.500%, 04/01/19		1,168		1,168
4.500%, 06/01/19		3,475		3,475
4.500%, 08/01/19		711		711
5.000%, 06/01/19		2,920		2,919
5.500%, 01/01/24		183,473		190,801
Freddie Mac 20 Yr. Gold Pool
3.000%, 04/01/33		2,106,880		2,134,256
3.000%, 02/01/37		2,447,748		2,461,574
3.500%, 04/01/32		1,510,830		1,550,473
4.000%, 01/01/31		577,241		601,556
4.000%, 08/01/31		580,023		605,007
4.500%, 05/01/29		145,912		153,988
5.000%, 03/01/27		72,810		77,143
Freddie Mac 30 Yr. Gold Pool
3.000%, 10/01/42		2,061,901		2,065,173
3.000%, 01/01/43		1,942,271		1,945,354
3.000%, 03/01/43		5,130,839		5,136,750
3.000%, 04/01/43		3,485,043		3,488,361
3.000%, 06/01/43		1,655,651		1,657,227
3.000%, 07/01/43		3,067,518		3,070,439
3.000%, 06/01/45		3,483,645		3,479,773
3.000%, 06/01/46		3,789,359		3,774,977
3.000%, 11/01/46		4,004,978		3,989,778
3.000%, 01/01/47		6,418,812		6,394,451
3.500%, 01/01/42		1,075,722		1,100,467
3.500%, 03/01/42		975,614		997,649
3.500%, 08/01/42		2,628,014		2,687,370
3.500%, 02/01/43		1,412,095		1,443,988
3.500%, 05/01/43		2,194,212		2,242,393
3.500%, 06/01/43		1,283,267		1,311,445
3.500%, 06/01/44		1,584,530		1,615,962
3.500%, 10/01/44		1,700,312		1,734,041
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
3.500%, 11/01/44		2,403,463		2,452,101
3.500%, 12/01/44		2,286,077		2,331,426
3.500%, 05/01/45		2,836,421		2,886,044
3.500%, 08/01/45		3,125,182		3,181,241
3.500%, 11/01/45		3,022,087		3,074,958
3.500%, 12/01/45		1,830,389		1,862,411
3.500%, 03/01/46		5,620,134		5,716,598
3.500%, 06/01/47		3,355,479		3,408,092
3.500%, 08/01/47		2,144,270		2,177,892
3.500%, 10/01/47		2,669,175		2,711,027
3.500%, 11/01/47		2,640,001		2,681,395
3.500%, 02/01/48		5,541,880		5,628,776
4.000%, 06/01/39		541,399		563,414
4.000%, 12/01/39		862,715		897,797
4.000%, 11/01/40		859,063		894,202
4.000%, 04/01/41		852,089		886,443
4.000%, 09/01/41		893,375		929,394
4.000%, 10/01/41		1,988,262		2,068,424
4.000%, 11/01/41		801,078		833,376
4.000%, 10/01/43		2,464,671		2,563,829
4.000%, 07/01/44		2,410,320		2,499,551
4.000%, 10/01/44		1,828,227		1,895,909
4.000%, 07/01/45		2,878,732		2,977,020
4.000%, 01/01/46		2,922,619		3,022,406
4.000%, 02/01/46		1,563,130		1,616,500
4.000%, 06/01/47		3,504,985		3,624,880
4.000%, 10/01/47		1,679,183		1,736,623
4.000%, 11/01/47		1,674,616		1,731,899
4.000%, 03/01/48		2,655,060		2,745,881
4.000%, 05/01/48		1,853,648		1,908,251
4.000%, 10/01/48		2,418,339		2,492,415
4.000%, 11/01/48		2,922,999		3,009,101
4.000%, 01/01/49		1,968,974		2,026,973
4.500%, 10/01/35		259,124		273,786
4.500%, 06/01/38		394,517		416,840
4.500%, 02/01/39		301,391		319,458
4.500%, 03/01/39		251,142		266,258
4.500%, 04/01/39		449,003		476,028
4.500%, 09/01/39		489,318		518,770
4.500%, 10/01/39		1,291,222		1,368,939
4.500%, 11/01/39		369,300		391,528
4.500%, 01/01/40		307,976		326,513
4.500%, 05/01/40		494,959		523,179
4.500%, 11/01/40		773,128		817,209
4.500%, 02/01/41		156,650		165,979
4.500%, 05/01/41		438,602		464,723
4.500%, 06/01/41		317,350		336,250
4.500%, 12/01/43		717,129		756,860
4.500%, 12/01/45		901,327		949,741
4.500%, 08/01/47		2,230,629		2,332,528
4.500%, 08/01/48		1,389,393		1,452,932
4.500%, 10/01/48		2,376,198		2,484,864
4.500%, 12/01/48		1,940,829		2,025,856
5.000%, 10/01/33		412,491		443,678
5.000%, 03/01/34		58,498		62,926

BHFTII-158

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
5.000%, 08/01/35		284,426	$	305,946
5.000%, 09/01/35		112,802		121,337
5.000%, 10/01/35		91,036		97,924
5.000%, 01/01/36		309,669		333,099
5.000%, 04/01/38		198,852		214,855
5.000%, 11/01/39		930,218		1,004,287
5.000%, 05/01/40		1,214,100		1,301,788
5.500%, 06/01/34		182,508		198,297
5.500%, 10/01/35		131,095		142,695
5.500%, 12/01/35		321,770		350,241
5.500%, 01/01/36		249,392		271,460
5.500%, 12/01/37		239,938		261,130
5.500%, 04/01/38		1,035,703		1,130,773
5.500%, 07/01/38		115,193		125,767
5.500%, 08/01/38		310,677		339,195
6.000%, 11/01/28		4,701		5,088
6.000%, 12/01/28		3,646		3,980
6.000%, 04/01/29		1,751		1,874
6.000%, 06/01/31		1,820		1,953
6.000%, 07/01/31		493		546
6.000%, 09/01/31		50,581		53,214
6.000%, 11/01/32		16,355		18,098
6.000%, 06/01/34		64,740		69,140
6.000%, 11/01/35		63,057		69,787
6.000%, 02/01/36		80,682		86,762
6.000%, 08/01/36		28,819		32,046
6.000%, 10/01/36		93,472		104,132
6.000%, 11/01/36		45,461		48,681
6.000%, 01/01/37		44,896		48,977
6.000%, 02/01/38		107,228		118,762
6.000%, 11/01/39		853,485		952,961
6.000%, 04/01/40		298,823		337,709
6.500%, 02/01/30		4,636		5,060
6.500%, 08/01/31		5,554		6,298
6.500%, 10/01/31		6,316		6,670
6.500%, 11/01/31		11,840		13,460
6.500%, 03/01/32		279,084		316,900
6.500%, 04/01/32		212,946		242,465
6.500%, 09/01/36		250,317		287,220
6.500%, 11/01/37		80,006		90,681
7.000%, 12/01/27		802		898
7.000%, 11/01/28		2,146		2,417
7.000%, 04/01/29		2,147		2,424
7.000%, 05/01/29		576		627
7.000%, 06/01/29		5,116		5,410
7.000%, 07/01/29		1,048		1,154
7.000%, 01/01/31		39,358		40,902
7.500%, 08/01/24		6,035		6,063
7.500%, 10/01/27		5,126		5,767
7.500%, 10/01/29		7,625		8,774
7.500%, 05/01/30		10,585		11,930
8.000%, 02/01/27		2,077		2,358
8.000%, 10/01/28		3,709		4,209
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
3.060%, 07/25/23 (a)		4,800,000		4,882,982
3.117%, 06/25/27		2,000,000		2,030,456
3.171%, 10/25/24		975,000		998,941
3.187%, 09/25/27 (a)		1,265,000		1,289,518
3.194%, 07/25/27		685,000		699,138
3.780%, 10/25/28 (a)		4,000,000		4,259,029
3.920%, 09/25/28 (a)		2,900,000		3,121,632
Ginnie Mae I 15 Yr. Pool
3.000%, 08/15/28		1,557,122		1,576,475
5.000%, 10/15/20		37,823		38,261
5.000%, 01/15/21		29,637		29,793
Ginnie Mae I 30 Yr. Pool
3.000%, 11/15/42		1,883,010		1,901,538
3.000%, 12/15/42		1,510,758		1,525,624
3.000%, 02/15/43		1,212,941		1,224,877
3.000%, 03/15/43		1,434,114		1,448,181
3.000%, 05/15/43		2,019,131		2,038,937
3.000%, 07/15/43		1,325,482		1,338,484
3.500%, 01/15/42		1,817,022		1,868,116
3.500%, 02/15/42		584,214		600,307
3.500%, 03/15/42		1,324,026		1,360,497
3.500%, 05/15/42		832,686		855,623
3.500%, 09/15/42		1,132,207		1,163,394
3.500%, 05/15/43		1,529,704		1,570,523
4.000%, 07/15/39		1,249,658		1,302,137
4.000%, 07/15/40		747,149		778,966
4.000%, 03/15/41		407,668		425,058
4.000%, 10/15/41		1,074,672		1,120,514
4.500%, 01/15/39		176,002		185,224
4.500%, 04/15/39		586,631		617,338
4.500%, 05/15/39		1,124,943		1,183,830
4.500%, 08/15/39		517,037		544,102
4.500%, 01/15/40		554,105		583,110
4.500%, 04/15/40		526,887		553,508
4.500%, 02/15/41		148,047		155,527
4.500%, 04/15/41		359,328		376,551
5.000%, 12/15/35		195,878		208,872
5.000%, 12/15/36		69,369		73,880
5.000%, 01/15/39		607,103		651,611
5.000%, 02/15/39		111,596		119,777
5.000%, 08/15/39		767,685		824,000
5.000%, 09/15/39		184,011		197,510
5.000%, 12/15/39		393,273		422,122
5.000%, 05/15/40		616,344		661,552
5.500%, 03/15/36		129,202		138,498
5.500%, 01/15/37		206,939		224,846
5.500%, 11/15/37		286,467		315,227
5.500%, 09/15/38		50,984		53,851
5.500%, 08/15/39		623,771		687,304
6.000%, 01/15/29		2,519		2,727
6.000%, 01/15/33		134,829		151,101
6.000%, 03/15/35		144,051		162,204
6.000%, 12/15/35		124,817		140,721
6.000%, 06/15/36		88,044		98,667
6.000%, 09/15/36		98,820		110,799

BHFTII-159

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (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%, 07/15/38		627,192	$	709,883
6.500%, 05/15/23		780		783
6.500%, 02/15/27		17,258		18,796
6.500%, 07/15/28		7,383		8,083
6.500%, 08/15/28		6,983		7,674
6.500%, 11/15/28		5,235		5,842
6.500%, 12/15/28		7,707		8,225
6.500%, 07/15/29		1,783		1,855
6.500%, 05/15/36		105,102		119,858
7.000%, 01/15/28		940		1,047
7.000%, 05/15/28		6,016		6,360
7.000%, 06/15/28		6,036		6,809
7.000%, 10/15/28		6,165		6,868
7.000%, 09/15/29		1,759		1,790
7.000%, 01/15/31		1,175		1,225
7.000%, 03/15/31		10,865		11,376
7.000%, 07/15/31		264,380		306,741
7.000%, 08/15/31		47,569		55,386
7.000%, 02/15/32		7,835		7,950
7.000%, 07/15/32		13,212		15,428
8.000%, 08/15/26		2,188		2,452
8.000%, 09/15/26		2,102		2,317
8.000%, 06/15/29		19,553		21,066
9.000%, 11/15/24		1,275		1,321
Ginnie Mae II 30 Yr. Pool
3.000%, 12/20/42		1,760,387		1,780,249
3.000%, 03/20/43		2,561,018		2,586,340
3.000%, 12/20/44		2,229,000		2,247,247
3.000%, 04/20/45		2,088,676		2,102,213
3.000%, 08/20/45		3,164,188		3,184,695
3.000%, 11/20/45		1,797,720		1,809,371
3.000%, 01/20/46		3,146,384		3,166,776
3.000%, 09/20/46		3,639,655		3,659,515
3.000%, 10/20/46		3,694,382		3,714,541
3.000%, 11/20/46		3,835,368		3,856,296
3.000%, 01/20/47		3,883,570		3,904,761
3.000%, 04/20/47		1,579,387		1,586,031
3.000%, 02/20/48		2,867,002		2,879,062
3.500%, 12/20/41		1,065,978		1,098,806
3.500%, 03/20/42		2,076,357		2,138,864
3.500%, 08/20/42		1,033,869		1,064,992
3.500%, 01/20/43		3,000,443		3,090,768
3.500%, 04/20/43		1,215,009		1,250,251
3.500%, 05/20/43		2,084,326		2,144,782
3.500%, 07/20/44		2,666,975		2,738,061
3.500%, 02/20/45		2,887,344		2,964,304
3.500%, 06/20/45		1,847,720		1,893,988
3.500%, 08/20/45		4,305,707		4,413,524
3.500%, 09/20/45		4,972,038		5,096,540
3.500%, 10/20/45		2,941,277		3,014,928
3.500%, 12/20/45		2,607,668		2,672,965
3.500%, 01/20/46		2,595,957		2,660,961
3.500%, 02/20/46		2,143,151		2,196,816
3.500%, 06/20/46		2,507,353		2,566,659
3.500%, 02/20/47		4,140,743		4,238,684
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
3.500%, 03/20/47		3,748,283		3,830,972
3.500%, 06/20/47		4,828,110		4,934,620
3.500%, 09/20/47		1,723,751		1,761,778
3.500%, 12/20/47		8,126,082		8,305,347
3.500%, 10/20/48		982,188		1,003,588
4.000%, 11/20/40		1,013,511		1,057,174
4.000%, 12/20/40		1,205,620		1,257,559
4.000%, 05/20/43		1,877,165		1,953,658
4.000%, 11/20/43		719,804		749,136
4.000%, 02/20/44		2,596,071		2,707,954
4.000%, 04/20/44		1,010,143		1,049,545
4.000%, 05/20/44		1,228,116		1,276,020
4.000%, 09/20/44		1,919,572		1,994,446
4.000%, 10/20/44		2,738,435		2,845,250
4.000%, 11/20/44		533,348		554,151
4.000%, 10/20/45		2,210,868		2,293,619
4.000%, 11/20/45		1,160,274		1,203,702
4.000%, 02/20/47		3,009,867		3,114,869
4.000%, 03/20/47		636,294		658,492
4.000%, 04/20/47		2,606,887		2,695,708
4.000%, 05/20/47		2,818,831		2,914,873
4.000%, 09/20/47		2,434,967		2,517,930
4.000%, 07/20/48		2,312,384		2,388,558
4.000%, 08/20/48		1,617,164		1,670,436
4.000%, 09/20/48		2,938,240		3,035,031
4.000%, 11/20/48		4,451,260		4,597,893
4.500%, 08/20/40		845,277		892,391
4.500%, 12/20/40		545,385		575,783
4.500%, 04/20/41		465,661		491,469
4.500%, 03/20/42		393,039		414,822
4.500%, 10/20/43		585,375		615,056
4.500%, 02/20/44		1,166,106		1,225,233
4.500%, 04/20/45		1,066,733		1,120,822
4.500%, 03/20/47		1,479,400		1,546,440
4.500%, 11/20/47		1,593,175		1,660,760
4.500%, 08/20/48		10,853,820		11,278,288
4.500%, 03/20/49		2,000,000		2,078,216
5.000%, 08/20/40		382,174		406,458
5.000%, 10/20/40		398,054		423,347
5.000%, 06/20/44		885,419		941,680
5.000%, 10/20/48		2,461,035		2,573,674
5.000%, 01/20/49		1,991,332		2,082,473
6.500%, 06/20/31		15,493		17,714
6.500%, 11/20/38		322,140		371,952
7.500%, 02/20/28		1,627		1,834
				711,400,610
Federal Agencies—1.4%
Federal Home Loan Bank 1.750%, 06/12/20		12,700,000		12,608,687
Federal Home Loan Mortgage Corp.
1.125%, 08/12/21		5,200,000		5,055,180
1.375%, 05/01/20		2,645,000		2,615,217

BHFTII-160

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (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	$	3,420,445
2.375%, 01/19/23		1,600,000		1,605,072
2.625%, 09/06/24 (b)		2,000,000		2,029,540
6.625%, 11/15/30 (b)		2,450,000		3,377,766
Tennessee Valley Authority 5.250%, 09/15/39		3,350,000		4,295,739
				35,007,646
U.S. Treasury—38.5%
U.S. Treasury Bonds
2.250%, 08/15/46		3,000,000		2,675,846
2.500%, 02/15/45		7,400,000		6,981,425
2.500%, 02/15/46		8,200,000		7,713,586
2.500%, 05/15/46		4,800,000		4,512,235
2.750%, 08/15/42		2,020,000		2,011,365
2.750%, 11/15/42		3,200,000		3,182,983
2.750%, 08/15/47		3,000,000		2,957,997
2.750%, 11/15/47		7,300,000		7,196,689
2.875%, 05/15/43 (b)		5,760,000		5,848,228
2.875%, 11/15/46		4,600,000		4,658,631
3.000%, 11/15/44		11,000,000		11,406,972
3.000%, 05/15/45 (b)		4,500,000		4,669,152
3.000%, 11/15/45		7,700,000		7,991,817
3.000%, 02/15/47		3,000,000		3,114,171
3.000%, 05/15/47		5,800,000		6,012,727
3.000%, 08/15/48 (b)		13,200,000		13,669,383
3.000%, 02/15/49 (b)		1,000,000		1,036,112
3.125%, 11/15/41		3,000,000		3,191,265
3.125%, 02/15/42 (b)		1,800,000		1,912,916
3.125%, 02/15/43 (b)		3,270,000		3,464,822
3.125%, 08/15/44		4,700,000		4,980,445
3.375%, 05/15/44 (b)		3,000,000		3,315,116
3.500%, 02/15/39		2,080,000		2,356,754
3.625%, 08/15/43		2,600,000		2,987,196
3.625%, 02/15/44		8,020,000		9,223,363
3.750%, 08/15/41		1,830,000		2,140,923
3.750%, 11/15/43		2,600,000		3,047,573
3.875%, 08/15/40		5,380,000		6,406,162
4.250%, 05/15/39		2,500,000		3,125,612
4.250%, 11/15/40 (b)		4,280,000		5,361,010
4.375%, 11/15/39		3,900,000		4,955,215
4.375%, 05/15/40 (b)		3,220,000		4,096,165
4.375%, 05/15/41		1,350,000		1,721,655
4.500%, 02/15/36 (b)		1,600,000		2,026,015
4.500%, 05/15/38		4,950,000		6,364,605
5.000%, 05/15/37 (b)		1,560,000		2,108,633
5.250%, 02/15/29		750,000		935,174
5.375%, 02/15/31 (b)		3,675,000		4,776,639
6.125%, 11/15/27		1,750,000		2,256,563
6.250%, 08/15/23		7,700,000		8,972,550
6.250%, 05/15/30		2,500,000		3,422,313
6.375%, 08/15/27		2,900,000		3,774,700
6.500%, 11/15/26		2,500,000		3,219,493
7.125%, 02/15/23		11,125,000		13,123,257
U.S. Treasury—(Continued)
U.S. Treasury Bonds
7.250%, 08/15/22		6,120,000		7,104,038
7.875%, 02/15/21 (b)		4,450,000		4,900,339
8.000%, 11/15/21		2,920,000		3,341,301
8.125%, 08/15/21		1,250,000		1,416,697
8.750%, 08/15/20		1,000,000		1,085,313
U.S. Treasury Notes
1.125%, 02/28/21		10,100,000		9,878,501
1.125%, 06/30/21		14,200,000		13,855,357
1.125%, 07/31/21		12,300,000		11,983,067
1.125%, 08/31/21		6,300,000		6,132,567
1.250%, 03/31/21		6,100,000		5,979,633
1.250%, 07/31/23		8,600,000		8,249,534
1.375%, 04/30/20		11,000,000		10,881,182
1.375%, 08/31/20		14,900,000		14,693,404
1.375%, 01/31/21		5,100,000		5,014,227
1.500%, 08/15/20 (b)		2,000,000		1,976,209
1.500%, 02/28/23 (b)		7,200,000		7,002,229
1.500%, 08/15/26		10,600,000		9,997,514
1.625%, 11/30/20		5,000,000		4,942,284
1.625%, 11/15/22		5,000,000		4,894,476
1.625%, 05/31/23		7,900,000		7,707,540
1.625%, 02/15/26		8,300,000		7,930,999
1.625%, 05/15/26		10,900,000		10,396,060
1.750%, 10/31/20		10,000,000		9,906,777
1.750%, 12/31/20 (b)		14,800,000		14,655,215
1.750%, 11/30/21		11,000,000		10,858,433
1.750%, 02/28/22		9,000,000		8,875,745
1.750%, 05/15/22		8,000,000		7,882,327
1.750%, 05/31/22		5,100,000		5,024,641
1.750%, 05/15/23 (b)		22,720,000		22,280,809
1.875%, 02/28/22		9,000,000		8,907,548
1.875%, 03/31/22		11,000,000		10,889,225
1.875%, 04/30/22		12,100,000		11,969,924
1.875%, 07/31/22		11,100,000		10,971,505
1.875%, 08/31/22		7,400,000		7,312,373
1.875%, 09/30/22		3,000,000		2,964,470
2.000%, 11/30/20		14,800,000		14,718,257
2.000%, 02/28/21		5,000,000		4,971,567
2.000%, 10/31/21		6,000,000		5,961,491
2.000%, 02/15/22		3,800,000		3,775,695
2.000%, 11/30/22		14,700,000		14,579,937
2.000%, 02/15/23		6,900,000		6,839,340
2.000%, 05/31/24		8,400,000		8,294,918
2.000%, 06/30/24 (b)		7,300,000		7,204,674
2.000%, 02/15/25 (b)		23,500,000		23,116,714
2.000%, 08/15/25		14,100,000		13,837,222
2.000%, 11/15/26		7,300,000		7,122,777
2.125%, 08/31/20		5,800,000		5,781,118
2.125%, 06/30/21 (b)		12,000,000		11,962,057
2.125%, 08/15/21		8,710,000		8,680,332
2.125%, 12/31/21		11,900,000		11,861,682
2.125%, 12/31/22		7,200,000		7,170,462
2.125%, 02/29/24		12,000,000		11,930,029
2.125%, 03/31/24		6,200,000		6,165,812
2.125%, 05/15/25		16,400,000		16,226,459

BHFTII-161

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes
2.250%, 02/15/21		11,000,000	$	10,988,544
2.250%, 07/31/21		13,000,000		12,993,733
2.250%, 11/15/24		18,100,000		18,064,798
2.250%, 11/15/25		10,800,000		10,749,773
2.250%, 02/15/27		9,900,000		9,825,387
2.250%, 08/15/27		2,100,000		2,080,019
2.250%, 11/15/27		7,600,000		7,519,898
2.375%, 12/31/20		7,600,000		7,606,120
2.375%, 04/15/21		5,000,000		5,009,279
2.375%, 08/15/24		15,900,000		15,980,979
2.375%, 05/15/27 (b)		8,000,000		8,008,307
2.500%, 06/30/20		7,000,000		7,009,480
2.500%, 08/15/23		14,400,000		14,554,282
2.500%, 05/15/24		10,000,000		10,114,858
2.625%, 08/15/20		6,000,000		6,019,283
2.625%, 11/15/20		4,000,000		4,017,370
2.625%, 02/15/29		5,000,000		5,092,233
2.750%, 09/30/20		16,000,000		16,091,764
2.750%, 11/15/23		19,335,000		19,756,826
2.750%, 02/15/24		12,400,000		12,684,334
2.750%, 02/28/25		6,900,000		7,074,056
2.750%, 02/15/28		9,100,000		9,360,243
2.875%, 05/15/28		12,900,000		13,400,570
2.875%, 08/15/28		6,000,000		6,234,447
3.125%, 11/15/28		8,000,000		8,486,813
3.500%, 05/15/20		25,390,000		25,696,866
3.625%, 02/15/21		1,500,000		1,535,898
				966,923,619
Total U.S. Treasury & Government Agencies (Cost $1,719,955,611)				1,713,331,875
Corporate Bonds & Notes—26.6%
Aerospace/Defense—0.6%
Boeing Co. (The) 7.250%, 06/15/25		460,000		562,966
General Dynamics Corp. 3.000%, 05/11/21 (b)		1,000,000		1,008,950
Lockheed Martin Corp. 3.550%, 01/15/26 (b)		1,000,000		1,032,910
4.090%, 09/15/52 (b)		3,454,000		3,502,840
Northrop Grumman Corp. 3.250%, 01/15/28		1,100,000		1,081,366
Northrop Grumman Systems Corp. 7.750%, 02/15/31		515,000		705,936
Raytheon Co. 3.125%, 10/15/20		1,000,000		1,009,730
United Technologies Corp. 3.125%, 05/04/27		2,000,000		1,954,620
4.500%, 06/01/42		2,645,000		2,730,222
7.500%, 09/15/29		200,000		262,280
				13,851,820
Agriculture—0.4%
Altria Group, Inc. 4.000%, 01/31/24		1,000,000		1,028,060
Archer-Daniels-Midland Co. 4.479%, 03/01/21 (b)		2,000,000		2,073,340
Philip Morris International, Inc. 3.250%, 11/10/24 (b)		2,000,000		2,026,040
Reynolds American, Inc. 4.450%, 06/12/25		3,800,000		3,905,450
				9,032,890
Auto Manufacturers—0.6%
American Honda Finance Corp. 2.300%, 09/09/26		1,100,000		1,041,029
Daimler Finance North America LLC 8.500%, 01/18/31 (b)		1,050,000		1,492,995
Ford Motor Co. 7.450%, 07/16/31		2,200,000		2,345,156
Ford Motor Credit Co. LLC 2.597%, 11/04/19		2,000,000		1,993,180
General Motors Financial Co., Inc. 3.200%, 07/06/21		2,000,000		1,993,900
4.350%, 01/17/27 (b)		3,200,000		3,105,984
Toyota Motor Credit Corp. 3.300%, 01/12/22 (b)		4,000,000		4,072,640
				16,044,884
Banks—6.0%
Bank of America Corp. 2.625%, 04/19/21 (b)		1,000,000		997,280
3.300%, 01/11/23		4,075,000		4,127,445
4.100%, 07/24/23		2,905,000		3,038,194
4.200%, 08/26/24		3,000,000		3,104,580
5.875%, 02/07/42		3,000,000		3,741,780
Bank of Montreal 1.900%, 08/27/21		1,000,000		981,930
Bank of Nova Scotia (The) 2.700%, 03/07/22		3,000,000		3,001,620
Barclays plc 4.375%, 01/12/26		3,500,000		3,522,540
BNP Paribas S.A. 5.000%, 01/15/21		1,225,000		1,272,934
Branch Banking & Trust Co. 2.850%, 04/01/21		3,400,000		3,405,916
Capital One N.A. 2.250%, 09/13/21		3,000,000		2,950,980
Citigroup, Inc. 2.700%, 03/30/21 (b)		2,000,000		1,997,980
3.200%, 10/21/26		1,700,000		1,662,141
4.750%, 05/18/46		4,400,000		4,543,968
5.375%, 08/09/20		2,200,000		2,275,042
Cooperatieve Rabobank UA 5.250%, 05/24/41		1,640,000		1,966,639
Credit Suisse AG 4.375%, 08/05/20		2,611,000		2,664,891

BHFTII-162

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Credit Suisse Group Funding Guernsey, Ltd. 3.800%, 09/15/22		1,000,000	$	1,017,130
Deutsche Bank AG 4.250%, 10/14/21		900,000		903,870
Fifth Third Bancorp 8.250%, 03/01/38		1,175,000		1,637,292
Goldman Sachs Group, Inc. (The) 3.850%, 01/26/27		1,900,000		1,907,448
4.000%, 03/03/24		2,000,000		2,061,840
4.017%, 3M LIBOR + 1.373%, 10/31/38 (a)		2,000,000		1,904,680
6.000%, 06/15/20		2,000,000		2,074,060
6.125%, 02/15/33 (b)		2,075,000		2,557,562
HSBC Holdings plc 5.100%, 04/05/21		2,556,000		2,661,639
5.250%, 03/14/44		900,000		989,046
6.500%, 09/15/37		905,000		1,125,621
HSBC USA, Inc. 2.350%, 03/05/20		3,000,000		2,989,710
JPMorgan Chase & Co. 2.950%, 10/01/26		2,000,000		1,952,080
3.250%, 09/23/22		2,850,000		2,891,126
3.882%, 3M LIBOR + 1.360%, 07/24/38 (a)		2,100,000		2,056,047
3.900%, 07/15/25		4,700,000		4,875,263
4.950%, 03/25/20		2,650,000		2,706,207
KeyBank N.A. 3.300%, 06/01/25 (b)		3,800,000		3,845,258
KFW 1.625%, 03/15/21		5,500,000		5,421,405
2.375%, 08/25/21 (b)		1,945,000		1,946,459
2.750%, 09/08/20 (b)		2,300,000		2,311,063
Landwirtschaftliche Rentenbank 2.000%, 01/13/25		1,500,000		1,464,720
Lloyds Bank plc 6.375%, 01/21/21		1,500,000		1,589,265
Mitsubishi UFJ Financial Group, Inc. 2.998%, 02/22/22		1,900,000		1,904,313
3.850%, 03/01/26		1,000,000		1,034,480
Morgan Stanley 4.300%, 01/27/45		2,900,000		2,946,661
4.350%, 09/08/26		3,800,000		3,895,380
5.625%, 09/23/19		1,900,000		1,924,586
7.250%, 04/01/32		1,850,000		2,472,784
National Australia Bank, Ltd. 2.800%, 01/10/22		1,900,000		1,895,782
Oesterreichische Kontrollbank AG 2.875%, 03/13/23		1,300,000		1,323,790
PNC Bank N.A. 2.950%, 02/23/25 (b)		4,100,000		4,080,443
Royal Bank of Scotland Group plc 3.498%, 3M LIBOR + 1.480%, 05/15/23 (a)		1,000,000		992,960
3.875%, 09/12/23		1,000,000		1,004,280
Santander UK Group Holdings plc 2.875%, 08/05/21		1,500,000		1,488,855
Sumitomo Mitsui Financial Group, Inc. 2.632%, 07/14/26		4,700,000		4,508,475
Banks—(Continued)
Toronto-Dominion Bank (The) 3.500%, 07/19/23 (b)		3,000,000		3,084,300
U.S. Bancorp 3.600%, 09/11/24 (b)		3,000,000		3,090,060
UBS AG 4.875%, 08/04/20		3,500,000		3,595,865
Wells Fargo & Co. 2.600%, 07/22/20		4,000,000		3,994,280
3.000%, 01/22/21 (b)		3,400,000		3,414,076
3.000%, 10/23/26		2,000,000		1,946,540
Wells Fargo Bank N.A. 5.950%, 08/26/36		1,900,000		2,297,556
Westpac Banking Corp. 2.800%, 01/11/22		2,000,000		2,001,440
				151,041,557
Beverages—0.7%
Anheuser-Busch InBev Finance, Inc. 4.900%, 02/01/46		5,300,000		5,295,442
Anheuser-Busch InBev Worldwide, Inc. 4.439%, 10/06/48		1,165,000		1,092,234
5.550%, 01/23/49		1,900,000		2,085,212
Coca-Cola Co. (The) 3.150%, 11/15/20		280,000		282,511
3.200%, 11/01/23		3,000,000		3,084,030
Keurig Dr Pepper, Inc. 4.057%, 05/25/23 (144A)		1,000,000		1,028,840
PepsiCo, Inc. 3.600%, 03/01/24		3,975,000		4,151,530
				17,019,799
Biotechnology—0.4%
Amgen, Inc. 2.600%, 08/19/26		3,200,000		3,024,256
3.625%, 05/22/24		1,200,000		1,233,144
Celgene Corp. 4.625%, 05/15/44		2,000,000		2,015,600
Gilead Sciences, Inc. 3.650%, 03/01/26		3,000,000		3,059,580
				9,332,580
Chemicals—0.4%
Dow Chemical Co. (The) 4.250%, 11/15/20 (b)		2,750,000		2,803,955
9.400%, 05/15/39		650,000		987,357
LyondellBasell Industries NV 4.625%, 02/26/55 (b)		1,400,000		1,258,236
Nutrien, Ltd. 4.875%, 03/30/20		970,000		988,915
Praxair, Inc. 3.000%, 09/01/21 (b)		3,950,000		3,987,248
				10,025,711

BHFTII-163

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—0.5%
Apple, Inc. 2.250%, 02/23/21 (b)		3,000,000	$	2,987,760
2.400%, 05/03/23		2,072,000		2,053,145
4.450%, 05/06/44		944,000		1,036,446
4.650%, 02/23/46		2,700,000		3,050,919
Hewlett Packard Enterprise Co. 4.900%, 10/15/25 (b)		1,400,000		1,487,836
International Business Machines Corp. 4.000%, 06/20/42 (b)		3,200,000		3,157,376
				13,773,482
Cosmetics/Personal Care—0.3%
Procter & Gamble Co. (The) 2.300%, 02/06/22 (b)		3,600,000		3,586,464
Unilever Capital Corp. 2.900%, 05/05/27 (b)		1,500,000		1,477,785
5.900%, 11/15/32		1,500,000		1,894,050
				6,958,299
Diversified Financial Services—0.6%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.950%, 02/01/22 (b)		1,800,000		1,825,668
American Express Credit Corp. 3.300%, 05/03/27		3,000,000		3,039,300
BlackRock, Inc. 3.500%, 03/18/24		3,800,000		3,946,984
GE Capital International Funding Co. 4.418%, 11/15/35		2,700,000		2,500,848
Intercontinental Exchange, Inc. 3.750%, 12/01/25		1,000,000		1,041,030
Visa, Inc. 2.800%, 12/14/22 (b)		3,000,000		3,029,130
				15,382,960
Electric—1.7%
Connecticut Light & Power Co. (The) 4.000%, 04/01/48 (b)		1,000,000		1,037,740
Consolidated Edison Co. of New York, Inc. 3.950%, 03/01/43		3,070,000		3,020,174
Dominion Energy, Inc. 3.900%, 10/01/25		1,900,000		1,963,726
DTE Electric Co. 3.700%, 03/15/45 (b)		4,000,000		3,933,440
Duke Energy Carolinas LLC 5.300%, 02/15/40		2,000,000		2,399,120
Duke Energy Corp. 3.050%, 08/15/22		4,000,000		4,024,600
Exelon Corp. 3.400%, 04/15/26 (b)		3,000,000		2,997,360
5.625%, 06/15/35		1,500,000		1,712,940
FirstEnergy Corp. 3.900%, 07/15/27		2,000,000		2,028,360
Florida Power & Light Co. 5.950%, 02/01/38		1,700,000		2,188,733
Electric—(Continued)
Georgia Power Co. 4.300%, 03/15/42		2,000,000		1,986,260
MidAmerican Energy Co. 4.250%, 07/15/49		1,500,000		1,595,490
Northern States Power Co. 6.250%, 06/01/36		2,200,000		2,849,638
Ohio Power Co. 5.375%, 10/01/21		1,640,000		1,744,025
Oncor Electric Delivery Co. LLC 7.000%, 05/01/32		950,000		1,275,964
PacifiCorp 2.950%, 02/01/22		2,800,000		2,823,492
PPL Capital Funding, Inc. 3.400%, 06/01/23		2,000,000		2,005,600
PSEG Power LLC 8.625%, 04/15/31 (b)		1,000,000		1,332,150
Sempra Energy 3.400%, 02/01/28		2,100,000		2,024,337
				42,943,149
Electrical Components & Equipment—0.1%
Emerson Electric Co. 4.875%, 10/15/19		1,800,000		1,821,168
Environmental Control—0.1%
Waste Management, Inc. 7.000%, 07/15/28		1,265,000		1,594,242
Food—0.4%
General Mills, Inc. 4.200%, 04/17/28 (b)		1,500,000		1,557,060
Kraft Heinz Foods Co. 3.000%, 06/01/26 (b)		3,300,000		3,085,038
Kroger Co. (The) 3.300%, 01/15/21		1,900,000		1,913,604
Sysco Corp. 2.600%, 06/12/22		2,400,000		2,378,832
Tyson Foods, Inc. 3.550%, 06/02/27		1,200,000		1,178,412
				10,112,946
Forest Products & Paper—0.1%
Georgia-Pacific LLC 8.000%, 01/15/24		1,800,000		2,197,476
International Paper Co. 3.000%, 02/15/27 (b)		1,500,000		1,445,655
				3,643,131
Gas—0.1%
NiSource, Inc. 4.800%, 02/15/44		1,500,000		1,575,870
Healthcare-Products—0.5%
Abbott Laboratories 4.750%, 11/30/36		3,000,000		3,369,360

BHFTII-164

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—(Continued)
Becton Dickinson & Co. 4.669%, 06/06/47		2,000,000	$	2,091,380
Medtronic, Inc. 4.625%, 03/15/45		3,000,000		3,425,370
Thermo Fisher Scientific, Inc. 4.150%, 02/01/24		3,445,000		3,599,439
				12,485,549
Healthcare-Services—0.5%
Aetna, Inc. 2.750%, 11/15/22		3,000,000		2,958,870
Anthem, Inc. 5.850%, 01/15/36		1,800,000		2,098,098
Laboratory Corp. of America Holdings 4.625%, 11/15/20		1,900,000		1,941,743
UnitedHealth Group, Inc. 3.750%, 07/15/25		3,600,000		3,754,620
4.250%, 06/15/48		1,000,000		1,051,170
				11,804,501
Insurance—0.8%
Aflac, Inc. 3.625%, 06/15/23		1,475,000		1,531,964
Allstate Corp. (The) 7.450%, 05/16/19		1,700,000		1,708,772
American International Group, Inc. 3.300%, 03/01/21 (b)		3,000,000		3,019,050
4.500%, 07/16/44		1,100,000		1,053,041
AXA S.A. 8.600%, 12/15/30		1,165,000		1,549,590
Berkshire Hathaway, Inc. 3.125%, 03/15/26 (b)		2,900,000		2,928,275
Chubb Corp. (The) 6.000%, 05/11/37		865,000		1,112,926
Chubb INA Holdings, Inc. 3.350%, 05/15/24		2,000,000		2,046,720
Hartford Financial Services Group, Inc. (The) 6.100%, 10/01/41		780,000		947,942
Marsh & McLennan Cos., Inc. 3.750%, 03/14/26 (b)		2,000,000		2,050,540
Principal Financial Group, Inc. 3.100%, 11/15/26 (b)		1,000,000		974,010
Prudential Financial, Inc. 5.700%, 12/14/36		1,525,000		1,820,408
				20,743,238
Internet—0.3%
Alibaba Group Holding, Ltd. 4.200%, 12/06/47 (b)		1,400,000		1,375,780
Amazon.com, Inc. 3.800%, 12/05/24 (b)		1,800,000		1,897,632
3.875%, 08/22/37 (b)		1,900,000		1,977,007
Internet—(Continued)
eBay, Inc. 3.600%, 06/05/27		1,500,000		1,461,180
				6,711,599
Iron/Steel—0.0%
Vale Overseas, Ltd. 6.875%, 11/21/36		528,000		603,958
Machinery-Construction & Mining—0.1%
Caterpillar, Inc. 3.803%, 08/15/42 (b)		1,500,000		1,523,340
Machinery-Diversified—0.1%
Deere & Co. 2.600%, 06/08/22		1,950,000		1,952,145
Media—1.2%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.464%, 07/23/22		2,800,000		2,897,496
Comcast Corp. 3.150%, 03/01/26		2,000,000		1,991,440
3.969%, 11/01/47		2,900,000		2,804,358
4.650%, 07/15/42		3,670,000		3,924,478
5.650%, 06/15/35		1,500,000		1,762,830
Discovery Communications LLC 6.350%, 06/01/40		1,800,000		1,984,338
Time Warner Cable LLC
5.000%, 02/01/20		1,900,000		1,931,065
6.550%, 05/01/37		100,000		110,359
Time Warner Entertainment Co. L.P. 8.375%, 03/15/23		380,000		444,733
Time Warner, Inc.
6.100%, 07/15/40		925,000		1,051,327
7.700%, 05/01/32		685,000		914,544
TWDC Enterprises 18 Corp. 2.950%, 06/15/27 (b)		2,000,000		1,999,400
Viacom, Inc. 4.375%, 03/15/43		3,500,000		3,147,655
Walt Disney Co. (The) 6.550%, 03/15/33 (144A)		1,950,000		2,590,185
Warner Media LLC 3.600%, 07/15/25		1,900,000		1,896,219
				29,450,427
Mining—0.2%
Newmont Mining Corp. 6.250%, 10/01/39		1,800,000		2,178,702
Rio Tinto Alcan, Inc. 6.125%, 12/15/33		1,751,000		2,221,354
				4,400,056
Miscellaneous Manufacturing—0.3%
3M Co. 3.625%, 10/15/47		1,000,000		985,330

BHFTII-165

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Miscellaneous Manufacturing—(Continued)
General Electric Co.
3.375%, 03/11/24		2,900,000	$	2,886,486
5.300%, 02/11/21 (b)		1,915,000		1,982,293
6.750%, 03/15/32		1,250,000		1,444,938
7.500%, 08/21/35		100,000		117,156
Ingersoll-Rand Luxembourg Finance S.A. 2.625%, 05/01/20 (b)		1,200,000		1,196,496
				8,612,699
Multi-National—1.4%
African Development Bank 2.625%, 03/22/21		1,000,000		1,004,410
Asian Development Bank
1.625%, 08/26/20 (b)		4,000,000		3,957,080
2.000%, 02/16/22		2,000,000		1,982,480
European Investment Bank
1.625%, 12/15/20		2,000,000		1,974,400
1.875%, 02/10/25 (b)		2,500,000		2,427,800
2.500%, 10/15/24 (b)		3,800,000		3,824,814
4.000%, 02/16/21		1,700,000		1,749,929
4.875%, 02/15/36		1,100,000		1,393,370
Inter-American Development Bank
2.125%, 01/15/25		6,000,000		5,906,580
2.375%, 07/07/27 (b)		1,500,000		1,484,490
7.000%, 06/15/25		200,000		247,194
International Bank for Reconstruction & Development
2.125%, 03/03/25		3,000,000		2,961,120
2.500%, 07/29/25		2,000,000		2,008,180
7.625%, 01/19/23		2,970,000		3,532,459
International Finance Corp. 1.125%, 07/20/21 (b)		1,600,000		1,556,928
				36,011,234
Oil & Gas—1.5%
Apache Finance Canada Corp. 7.750%, 12/15/29		300,000		379,815
BP Capital Markets America, Inc. 3.245%, 05/06/22		3,900,000		3,960,528
Burlington Resources LLC 5.950%, 10/15/36		1,550,000		1,944,273
Canadian Natural Resources, Ltd. 6.250%, 03/15/38		1,800,000		2,158,956
Chevron Corp. 3.191%, 06/24/23 (b)		2,025,000		2,071,555
ConocoPhillips Holding Co. 6.950%, 04/15/29		700,000		905,779
Equinor ASA 3.250%, 11/10/24 (b)		3,100,000		3,171,207
Exxon Mobil Corp. 3.176%, 03/15/24		2,900,000		2,984,883
Marathon Oil Corp. 6.600%, 10/01/37		2,000,000		2,362,300
Noble Energy, Inc. 3.900%, 11/15/24 (b)		4,200,000		4,244,100
Oil & Gas—(Continued)
Occidental Petroleum Corp. 3.400%, 04/15/26		1,000,000		1,019,970
Petroleos Mexicanos
4.875%, 01/24/22 (b)		1,900,000		1,915,941
6.625%, 06/15/35 (b)		3,400,000		3,220,242
6.750%, 09/21/47		1,700,000		1,559,393
Phillips 66 4.875%, 11/15/44		1,000,000		1,095,220
Shell International Finance B.V. 1.875%, 05/10/21 (b)		3,000,000		2,960,670
Total Capital International S.A. 2.700%, 01/25/23 (b)		1,500,000		1,499,895
Valero Energy Corp. 3.400%, 09/15/26		1,000,000		979,550
				38,434,277
Oil & Gas Services—0.2%
Halliburton Co. 3.500%, 08/01/23		4,000,000		4,084,920
Pharmaceuticals—1.5%
AbbVie, Inc. 4.400%, 11/06/42		3,200,000		2,955,072
Allergan Funding SCS 3.800%, 03/15/25		2,400,000		2,430,360
AstraZeneca plc 4.000%, 09/18/42		1,200,000		1,159,056
CVS Health Corp. 3.350%, 03/09/21		1,500,000		1,512,120
3.700%, 03/09/23		3,000,000		3,048,840
4.780%, 03/25/38		2,500,000		2,474,975
5.050%, 03/25/48		1,500,000		1,510,635
5.125%, 07/20/45		1,900,000		1,929,127
Express Scripts Holding Co. 4.500%, 02/25/26		2,700,000		2,825,523
6.125%, 11/15/41		313,000		370,476
GlaxoSmithKline Capital, Inc. 3.875%, 05/15/28		2,000,000		2,096,140
Johnson & Johnson
3.700%, 03/01/46		2,000,000		2,029,100
5.950%, 08/15/37		910,000		1,180,943
Merck & Co., Inc.
2.400%, 09/15/22 (b)		1,000,000		996,450
6.550%, 09/15/37		1,000,000		1,369,250
Merck Sharp & Dohme Corp. 5.950%, 12/01/28		300,000		365,079
Novartis Capital Corp. 4.400%, 04/24/20		900,000		916,173
Sanofi 4.000%, 03/29/21		1,275,000		1,309,234
Shire Acquisitions Investments Ireland DAC 3.200%, 09/23/26		3,000,000		2,901,000
Wyeth LLC 5.950%, 04/01/37		3,300,000		4,187,403
				37,566,956

BHFTII-166

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—1.0%
El Paso Natural Gas Co. LLC 8.375%, 06/15/32		220,000	$	289,359
Enbridge Energy Partners L.P. 5.875%, 10/15/25		3,000,000		3,392,040
Energy Transfer Operating L.P. 4.650%, 06/01/21 (b)		1,950,000		2,008,403
5.150%, 03/15/45		2,600,000		2,498,522
Enterprise Products Operating LLC 3.950%, 02/15/27		3,800,000		3,926,502
Kinder Morgan Energy Partners L.P. 6.500%, 02/01/37		2,000,000		2,312,440
MPLX L.P. 5.200%, 03/01/47		1,000,000		1,017,320
Sabine Pass Liquefaction LLC 5.625%, 04/15/23		2,700,000		2,929,905
Tennessee Gas Pipeline Co. LLC 7.000%, 10/15/28		1,050,000		1,277,430
7.625%, 04/01/37		640,000		815,335
TransCanada PipeLines, Ltd. 6.200%, 10/15/37		1,800,000		2,142,522
Williams Cos., Inc. (The) 5.250%, 03/15/20 (b)		3,575,000		3,650,468
				26,260,246
Real Estate Investment Trusts—0.6%
American Tower Corp. 3.000%, 06/15/23		2,100,000		2,092,314
Boston Properties L.P. 3.850%, 02/01/23		2,950,000		3,033,986
Digital Realty Trust L.P. 3.700%, 08/15/27 (b)		3,500,000		3,458,980
Simon Property Group L.P.
3.300%, 01/15/26		3,800,000		3,817,214
Ventas Realty L.P. 3.100%, 01/15/23		2,100,000		2,098,467
Welltower, Inc. 4.000%, 06/01/25		1,500,000		1,542,780
				16,043,741
Retail—0.6%
Home Depot, Inc. (The)
2.000%, 04/01/21		1,000,000		989,980
4.250%, 04/01/46		2,000,000		2,116,100
4.400%, 04/01/21 (b)		1,450,000		1,497,908
Lowe’s Cos., Inc. 4.050%, 05/03/47		1,500,000		1,410,300
McDonald’s Corp. 3.700%, 01/30/26		3,000,000		3,097,530
Target Corp.
4.000%, 07/01/42		1,000,000		1,009,990
6.350%, 11/01/32 (b)		708,000		913,801
Walmart, Inc.
2.550%, 04/11/23		4,000,000		3,994,160
5.250%, 09/01/35		935,000		1,127,330
				16,157,099
Semiconductors—0.5%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.000%, 01/15/22		3,100,000		3,087,724
Intel Corp.
2.700%, 12/15/22 (b)		2,000,000		2,010,620
3.734%, 12/08/47		3,500,000		3,520,419
QUALCOMM, Inc. 3.450%, 05/20/25 (b)		4,000,000		4,028,880
				12,647,643
Software—0.7%
Microsoft Corp.
3.125%, 11/03/25 (b)		5,100,000		5,219,340
4.250%, 02/06/47 (b)		3,000,000		3,348,690
Oracle Corp.
1.900%, 09/15/21 (b)		1,800,000		1,770,444
2.500%, 10/15/22 (b)		2,100,000		2,089,731
4.125%, 05/15/45		4,200,000		4,286,100
				16,714,305
Telecommunications—1.2%
AT&T, Inc.
4.100%, 02/15/28 (b)		2,687,000		2,716,643
4.125%, 02/17/26		3,000,000		3,065,970
5.150%, 11/15/46		1,308,000		1,342,444
5.300%, 08/15/58		2,500,000		2,523,067
7.125%, 12/15/31		100,000		119,538
British Telecommunications plc 9.625%, 12/15/30		1,000,000		1,431,650
Cisco Systems, Inc.
2.500%, 09/20/26 (b)		1,200,000		1,168,284
5.500%, 01/15/40 (b)		2,000,000		2,531,600
Deutsche Telekom International Finance B.V.
8.750%, 06/15/30		1,000,000		1,373,150
Orange S.A. 5.500%, 02/06/44 (b)		1,000,000		1,156,490
Telefonica Emisiones S.A. 4.103%, 03/08/27		1,900,000		1,928,557
Verizon Communications, Inc. 3.376%, 02/15/25		2,078,000		2,106,261
4.812%, 03/15/39		3,927,000		4,204,089
5.012%, 04/15/49 (b)		2,032,000		2,213,478
Vodafone Group plc 6.150%, 02/27/37		2,170,000		2,398,653
				30,279,874
Transportation—0.4%
Burlington Northern Santa Fe LLC 4.150%, 04/01/45		3,900,000		4,068,129
CSX Corp. 6.150%, 05/01/37		1,600,000		1,951,920
FedEx Corp. 4.550%, 04/01/46		1,000,000		962,680
Norfolk Southern Corp. 3.000%, 04/01/22 (b)		1,911,000		1,919,638
5.590%, 05/17/25		28,000		31,330

BHFTII-167

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Transportation—(Continued)
Union Pacific Corp. 6.625%, 02/01/29 (b)		1,200,000	$	1,492,128
United Parcel Service, Inc. 5.125%, 04/01/19		760,000		760,000
				11,185,825
Total Corporate Bonds & Notes (Cost $638,043,690)				667,828,120
Foreign Government—1.7%
Electric—0.0%
Hydro-Quebec 8.400%, 01/15/22		1,000,000		1,146,850
Provincial—0.4%
Province of British Columbia Canada 2.000%, 10/23/22		1,970,000		1,942,006
Province of Nova Scotia Canada 9.250%, 03/01/20		250,000		264,540
Province of Ontario Canada 2.450%, 06/29/22		4,000,000		3,992,240
4.400%, 04/14/20		2,100,000		2,140,131
Province of Quebec Canada 7.500%, 07/15/23		350,000		417,676
				8,756,593
Sovereign—1.3%
Colombia Government International Bonds 5.000%, 06/15/45 (b)		1,000,000		1,050,220
8.125%, 05/21/24 (b)		1,500,000		1,817,970
Export Development Canada 2.000%, 05/17/22		1,000,000		989,900
Export-Import Bank of Korea 2.250%, 01/21/20		2,000,000		1,993,260
Japan Bank for International Cooperation 1.750%, 05/28/20		5,000,000		4,957,300
Mexico Government International Bonds
5.750%, 10/12/10		2,000,000		2,049,440
6.750%, 09/27/34 (b)		1,050,000		1,279,814
8.000%, 09/24/22 (b)		2,200,000		2,547,776
Panama Government International Bonds
4.500%, 05/15/47 (c)		1,400,000		1,478,498
5.200%, 01/30/20		1,370,000		1,394,824
Peruvian Government International Bond 8.750%, 11/21/33		1,450,000		2,272,382
Philippine Government International Bonds
3.950%, 01/20/40		2,100,000		2,208,675
5.000%, 01/13/37		1,740,000		2,054,749
Poland Government International Bond 3.250%, 04/06/26 (b)		2,000,000		2,032,200
Republic of Korea 7.125%, 04/16/19		900,000		901,638
Ukraine Government AID Bond 1.471%, 09/29/21		1,600,000		1,565,872
Sovereign—(Continued)
Uruguay Government International Bond 4.375%, 10/27/27 (c)		1,900,000		2,001,992
				32,596,510
Total Foreign Government (Cost $42,146,199)				42,499,953
Mortgage-Backed Securities—1.3%
Commercial Mortgage-Backed Securities—1.3%
Commercial Mortgage Pass-Through Certificates Mortgage Trust
3.765%, 02/10/49		1,539,000		1,592,919
3.902%, 07/10/50		1,835,000		1,914,846
Commercial Mortgage Trust 3.838%, 09/10/47		3,800,000		3,956,032
GS Mortgage Securities Corp. II 3.382%, 05/10/50		1,835,000		1,875,569
GS Mortgage Securities Trust
3.135%, 06/10/46		2,935,000		2,963,238
3.377%, 05/10/45		2,326,491		2,350,992
4.243%, 08/10/46		966,000		1,020,596
JPMBB Commercial Mortgage Securities Trust
3.598%, 11/15/48		3,900,000		4,008,874
3.801%, 08/15/48		1,534,000		1,599,208
Morgan Stanley Bank of America Merrill Lynch Trust
3.544%, 01/15/49		3,850,000		3,942,173
3.635%, 10/15/48		1,547,000		1,597,267
3.732%, 05/15/48		3,750,000		3,900,451
WF-RBS Commercial Mortgage Trust 3.488%, 06/15/46		1,054,000		1,063,274
Total Mortgage-Backed Securities (Cost $32,120,055)				31,785,439
Asset-Backed Securities—0.6%
Asset-Backed - Automobile—0.3%
Ally Auto Receivables Trust 1.990%, 11/15/21		2,990,000		2,965,966
AmeriCredit Automobile Receivables Trust 3.080%, 12/18/23		1,500,000		1,503,781
Ford Credit Auto Owner Trust
3.160%, 10/15/23		1,000,000		1,014,545
Honda Auto Receivables Owner Trust 1.330%, 11/18/22		1,011,000		1,002,369
				6,486,661
Asset-Backed - Credit Card—0.3%
Capital One Multi-Asset Execution Trust 1.660%, 06/17/24		3,000,000		2,936,277
Citibank Credit Card Issuance Trust 2.880%, 01/23/23		4,924,000		4,950,518
				7,886,795
Total Asset-Backed Securities (Cost $14,385,336)				14,373,456

BHFTII-168

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (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	$	878,156
Municipal Electric Authority of Georgia, Build America Bond 6.637%, 04/01/57		1,999,000		2,249,675
New Jersey State Turnpike Authority, Build America Bond 7.414%, 01/01/40		1,700,000		2,553,434
Oregon School Boards Association, General Obligation Unlimited 5.680%, 06/30/28		1,900,000		2,233,070
State of California General Obligation Unlimited, Build America Bond 7.300%, 10/01/39		2,700,000		3,906,981
State of Illinois, General Obligation Unlimited 5.100%, 06/01/33		1,230,000		1,208,623
Total Municipals (Cost $11,427,059)				13,029,939
Short-Term Investments—0.2%
Discount Note—0.0%
Federal Home Loan Bank 2.186%, 04/11/19 (d)		800,000		799,462
U.S. Treasury—0.2%
U.S. Treasury Bills
1.215%, 04/02/19 (d)		500,000		499,967
2.130%, 04/09/19 (d)		300,000		299,841
2.302%, 04/18/19 (d)		900,000		898,995
2.376%, 05/07/19 (d)		3,300,000		3,292,126
2.393%, 05/14/19 (d)		700,000		698,022
				5,688,951
Total Short-Term Investments (Cost $6,488,319)				6,488,413
Securities Lending Reinvestments (e)—8.8%
Certificates of Deposit—4.7%
ABN AMRO Bank NV Zero Coupon, 07/05/19		5,947,395		5,958,120
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (a)		3,000,000		3,001,065
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (a)		2,000,000		2,001,932
BNP Paribas S.A. New York
2.784%, 3M LIBOR + 0.050%, 11/06/19 (a)		3,000,000		3,000,000
2.790%, 1M LIBOR + 0.300%, 06/04/19 (a)		2,000,000		2,000,740
Canadian Imperial Bank of Commerce 2.752%, 1M LIBOR + 0.270%, 07/19/19 (a)		3,000,000		3,001,833
Commonwealth Bank of Australia 2.901%, 3M LIBOR + 0.140%, 04/23/19 (a)		2,500,000		2,500,615
Credit Agricole S.A. 2.807%, 1M LIBOR + 0.320%, 05/21/19 (a)		3,000,000		3,000,774
Credit Industriel et Commercial Zero Coupon, 08/01/19		1,970,832		1,982,020
Credit Suisse AG 2.620%, 04/01/19		5,000,000		5,000,070
Certificates of Deposit—(Continued)
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (a)		5,000,000		4,999,551
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		5,000,000		5,000,420
KBC Bank NV Zero Coupon, 04/23/19		7,945,172		7,988,640
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		4,966,855		4,979,239
Mizuho Bank, Ltd., New York 2.908%, 04/03/19		5,007,967		4,999,563
Nationwide Building Society Zero Coupon, 06/24/19		2,972,276		2,981,067
Natixis New York
2.910%, SOFR + 0.480%, 06/12/19 (a)		2,000,000		2,000,000
2.788%, 3M LIBOR + 0.090%, 05/10/19 (a)		3,000,000		3,000,642
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (a)		1,000,000		1,000,066
Standard Chartered plc
2.660%, 08/23/19		5,000,000		5,000,890
2.812%, 1M LIBOR + 0.330%, 05/17/19 (a)		2,000,000		2,000,366
3.009%, 3M LIBOR + 0.230%, 04/24/19 (a)		3,000,000		3,000,372
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (a)		7,000,000		7,000,266
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		4,952,835		4,981,900
Zero Coupon, 08/08/19		1,972,724		1,980,560
2.600%, 07/05/19		2,000,000		2,000,102
Svenska Handelsbanken AB 2.851%, 3M LIBOR + 0.100%, 04/30/19 (a)		4,000,000		4,001,080
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (a)		4,000,000		4,001,640
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (a)		10,000,000		9,999,214
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (a)		5,000,000		4,999,971
				117,362,718
Commercial Paper—2.7%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (a)		4,000,000		4,000,052
Bank of China, Ltd. 2.890%, 04/18/19		6,951,673		6,989,514
Barton Capital S.A. 2.650%, 05/02/19		2,980,125		2,992,740
China Construction Bank Corp.
2.840%, 04/29/19		4,962,922		4,988,950
2.860%, 04/18/19		6,949,950		6,990,067
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (a)		2,000,000		2,000,000
Industrial & Commercial Bank of China, Corp. 2.880%, 04/18/19		5,956,800		5,991,126
ING Funding LLC
2.778%, 3M LIBOR + 0.040%, 11/04/19 (a)		10,000,000		10,001,390
2.807%, 3M LIBOR + 0.110%, 05/10/19 (a)		2,000,000		2,000,494

BHFTII-169

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
LMA S.A. & LMA Americas, Corp. 2.750%, 08/05/19		2,958,292	$	2,971,506
Matchpoint Finance plc 2.890%, 05/08/19		3,941,879		3,988,236
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (a)		5,000,000		5,000,000
Toyota Motor Credit Corp. 2.620%, 08/29/19		4,935,592		4,945,575
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (a)		5,000,000		5,002,135
				67,861,785
Master Demand Notes—0.2%
Natixis Financial Products LLC 2.750%, OBFR + 0.350%, 05/03/19 (a)		5,000,000		5,000,000
Repurchase Agreements—0.9%
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,504,083; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $5,013,611; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $8,877; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $9,053.		8,875		8,875
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $8,434; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $8,601.		8,432		8,432
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $600,125; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $612,000.		600,000		600,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $548,764; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $559,622.		548,649		548,649
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $8,405,789; collateralized by various Common Stock with an aggregate market value of $8,800,005.		8,000,000		8,000,000
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $4,131,581; collateralized by various Common Stock with an aggregate market value of $4,510,000.		4,100,000		4,100,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $4,002,022; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $4,331,856.		4,000,000		4,000,000
				23,765,956
Time Deposits—0.3%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
DZ Bank AG New York 2.430%, 04/01/19		1,000,000		1,000,000
Nordea Bank New York 2.350%, 04/01/19		1,000,000		1,000,000
Royal Bank of Canada 2.450%, 04/01/19		1,000,000		1,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		1,000,000		1,000,000
				8,000,000
Total Securities Lending Reinvestments (Cost $221,974,081)				221,990,459
Total Investments—108.0% (Cost $2,686,540,350)				2,711,327,654
Other assets and liabilities (net)—(8.0)%				(201,766,794	)
Net Assets—100.0%			$	2,509,560,860

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $215,326,364 and the collateral received consisted of cash in the amount of $221,639,244. 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 March 31, 2019.

BHFTII-170

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2019, the market value of 144A securities was $3,619,025, which is 0.1% of net assets.
(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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,713,331,875		$	—	$	1,713,331,875
Total Corporate Bonds & Notes*		—		667,828,120			—		667,828,120
Total Foreign Government*		—		42,499,953			—		42,499,953
Total Mortgage-Backed Securities*		—		31,785,439			—		31,785,439
Total Asset-Backed Securities*		—		14,373,456			—		14,373,456
Total Municipals		—		13,029,939			—		13,029,939
Total Short-Term Investments*		—		6,488,413			—		6,488,413
Total Securities Lending Reinvestments*		—		221,990,459			—		221,990,459
Total Investments	$	—	$	2,711,327,654		$	—	$	2,711,327,654
Collateral for Securities Loaned (Liability)	$	—	$	(221,639,244	)	$	—	$	(221,639,244	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-171

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—98.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.8%
Curtiss-Wright Corp.		26,025	$	2,949,674
Teledyne Technologies, Inc. (a)		22,023		5,219,671
				8,169,345
Air Freight & Logistics—0.3%
XPO Logistics, Inc. (a) (b)		66,413		3,569,035
Airlines—0.3%
JetBlue Airways Corp. (a) (c)		186,436		3,050,093
Auto Components—1.0%
Adient plc (b)		52,905		685,649
Dana, Inc.		87,197		1,546,875
Delphi Technologies plc		53,821		1,036,592
Gentex Corp.		157,667		3,260,554
Goodyear Tire & Rubber Co. (The)		141,224		2,563,216
Visteon Corp. (a)		17,178		1,156,938
				10,249,824
Automobiles—0.2%
Thor Industries, Inc. (b)		31,815		1,984,302
Banks—7.0%
Associated Banc-Corp.		99,952		2,133,975
BancorpSouth Bank (b)		55,167		1,556,813
Bank of Hawaii Corp. (b)		25,066		1,976,955
Bank OZK		73,523		2,130,697
Cathay General Bancorp (b)		46,514		1,577,290
Chemical Financial Corp.		43,474		1,789,390
Commerce Bancshares, Inc.		60,032		3,485,458
Cullen/Frost Bankers, Inc. (b)		38,313		3,719,043
East West Bancorp, Inc.		88,165		4,229,275
First Financial Bankshares, Inc.		41,247		2,383,252
First Horizon National Corp.		193,554		2,705,885
FNB Corp. (b)		197,360		2,092,016
Fulton Financial Corp. (b)		103,325		1,599,471
Hancock Whitney Corp.		52,115		2,105,446
Home BancShares, Inc. (b)		94,395		1,658,520
International Bancshares Corp.		33,125		1,259,744
PacWest Bancorp		73,472		2,763,282
Pinnacle Financial Partners, Inc.		44,326		2,424,632
Prosperity Bancshares, Inc. (b)		40,358		2,787,124
Signature Bank		33,510		4,291,626
Sterling Bancorp		129,369		2,410,144
Synovus Financial Corp.		96,794		3,325,842
TCF Financial Corp.		99,735		2,063,517
Texas Capital Bancshares, Inc. (a)		30,556		1,668,052
Trustmark Corp. (b)		39,643		1,333,194
UMB Financial Corp. (b)		26,851		1,719,538
Umpqua Holdings Corp.		134,024		2,211,396
United Bankshares, Inc. (b)		62,100		2,250,504
Valley National Bancorp (b)		201,916		1,934,355
Webster Financial Corp.		56,130		2,844,107
Wintrust Financial Corp.		34,368		2,313,997
				72,744,540
Beverages—0.2%
Boston Beer Co., Inc. (The) - Class A (a)		5,296		1,560,890
Biotechnology—0.9%
Exelixis, Inc. (a)		182,542		4,344,499
Ligand Pharmaceuticals, Inc. (a) (b)		12,435		1,563,204
United Therapeutics Corp. (a)		26,592		3,121,103
				9,028,806
Building Products—0.9%
Lennox International, Inc. (b)		21,826		5,770,794
Resideo Technologies, Inc. (a)		74,789		1,442,680
Trex Co., Inc. (a)		35,803		2,202,601
				9,416,075
Capital Markets—3.0%
Eaton Vance Corp. (b)		70,044		2,823,474
Evercore, Inc. - Class A		24,934		2,268,994
FactSet Research Systems, Inc. (b)		23,135		5,743,726
Federated Investors, Inc. - Class B (b)		58,238		1,706,956
Interactive Brokers Group, Inc. - Class A (b)		45,667		2,369,204
Janus Henderson Group plc (b)		100,346		2,506,643
Legg Mason, Inc.		52,026		1,423,951
MarketAxess Holdings, Inc. (b)		22,921		5,640,400
SEI Investments Co.		78,519		4,102,618
Stifel Financial Corp.		43,717		2,306,509
				30,892,475
Chemicals—2.8%
Ashland Global Holdings, Inc.		38,085		2,975,581
Cabot Corp.		36,200		1,507,006
Chemours Co. (The)		101,593		3,775,196
Ingevity Corp. (a)		25,313		2,673,306
Minerals Technologies, Inc.		21,427		1,259,693
NewMarket Corp.		5,305		2,300,036
Olin Corp.		100,286		2,320,618
PolyOne Corp.		47,271		1,385,513
RPM International, Inc.		80,068		4,647,147
Scotts Miracle-Gro Co. (The) (b)		23,902		1,878,219
Sensient Technologies Corp.		25,724		1,743,830
Valvoline, Inc.		114,442		2,124,043
				28,590,188
Commercial Services & Supplies—1.5%
Brink’s Co. (The) (b)		30,195		2,277,005
Clean Harbors, Inc. (a)		30,914		2,211,278
Deluxe Corp.		26,564		1,161,378
Healthcare Services Group, Inc. (b)		44,884		1,480,723
Herman Miller, Inc.		35,821		1,260,183
HNI Corp.		26,452		959,943
MSA Safety, Inc.		21,325		2,205,005
Pitney Bowes, Inc. (b)		114,491		786,553
Stericycle, Inc. (a) (b)		51,856		2,822,004
				15,164,072

BHFTII-172

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Communications Equipment—1.5%
ARRIS International plc (a)		99,545	$	3,146,617
Ciena Corp. (a)		87,478		3,266,429
InterDigital, Inc.		19,838		1,308,911
Lumentum Holdings, Inc. (a)		46,285		2,616,954
NetScout Systems, Inc. (a)		42,604		1,195,894
Plantronics, Inc.		19,925		918,742
ViaSat, Inc. (a) (b)		34,578		2,679,795
				15,133,342
Construction & Engineering—1.2%
AECOM (a)		94,938		2,816,810
Dycom Industries, Inc. (a) (b)		19,122		878,465
EMCOR Group, Inc. (b)		34,058		2,488,959
Granite Construction, Inc. (b)		28,394		1,225,201
KBR, Inc.		85,764		1,637,235
MasTec, Inc. (a) (b)		37,455		1,801,585
Valmont Industries, Inc.		13,346		1,736,315
				12,584,570
Construction Materials—0.2%
Eagle Materials, Inc.		27,916		2,353,319
Consumer Finance—0.6%
Green Dot Corp. - Class A (a)		28,966		1,756,788
Navient Corp.		132,353		1,531,324
SLM Corp. (b)		265,668		2,632,770
				5,920,882
Containers & Packaging—1.4%
AptarGroup, Inc.		38,275		4,072,077
Bemis Co., Inc.		55,447		3,076,200
Greif, Inc. - Class A		15,955		658,144
Owens-Illinois, Inc.		93,434		1,773,377
Silgan Holdings, Inc.		47,015		1,393,054
Sonoco Products Co. (b)		60,767		3,738,994
				14,711,846
Distributors—0.4%
Pool Corp.		23,958		3,952,351
Diversified Consumer Services—0.9%
Adtalem Global Education, Inc. (a)		35,142		1,627,777
Graham Holdings Co. - Class B		2,649		1,809,744
Service Corp. International		110,270		4,427,340
Sotheby’s (a)		20,014		755,529
Weight Watchers International, Inc. (a)		23,621		475,963
				9,096,353
Electric Utilities—1.5%
ALLETE, Inc.		31,334		2,576,595
Hawaiian Electric Industries, Inc.		66,256		2,701,257
IDACORP, Inc.		30,644		3,050,304
OGE Energy Corp. (b)		121,479		5,238,174
PNM Resources, Inc.		48,446		2,293,434
				15,859,764
Electrical Equipment—1.3%
Acuity Brands, Inc.		24,263		2,911,803
EnerSys		26,183		1,706,084
Hubbell, Inc.		33,210		3,918,116
Nvent Electric plc		98,088		2,646,414
Regal-Beloit Corp.		26,024		2,130,585
				13,313,002
Electronic Equipment, Instruments & Components—4.1%
Arrow Electronics, Inc. (a)		51,647		3,979,918
Avnet, Inc.		65,947		2,860,121
Belden, Inc.		23,963		1,286,813
Cognex Corp. (b)		103,901		5,284,405
Coherent, Inc. (a) (b)		14,796		2,096,889
Jabil, Inc.		85,630		2,276,902
Littelfuse, Inc.		15,027		2,742,127
National Instruments Corp.		68,365		3,032,671
SYNNEX Corp.		25,231		2,406,785
Tech Data Corp. (a)		22,697		2,324,400
Trimble, Inc. (a)		152,973		6,180,109
Vishay Intertechnology, Inc. (b)		80,418		1,485,321
Zebra Technologies Corp. - Class A (a)		32,765		6,865,250
				42,821,711
Energy Equipment & Services—1.2%
Apergy Corp. (a)		47,047		1,931,750
Core Laboratories NV		26,954		1,857,939
Ensco plc - Class A (b)		265,934		1,045,121
McDermott International, Inc. (a)		109,962		818,117
Oceaneering International, Inc. (a)		60,114		947,998
Patterson-UTI Energy, Inc.		129,946		1,821,843
Rowan Cos. plc - Class A (a) (b)		77,422		835,383
Transocean, Ltd. (a)		307,968		2,682,401
				11,940,552
Entertainment—1.0%
Cinemark Holdings, Inc. (b)		64,783		2,590,672
Live Nation Entertainment, Inc. (a)		84,115		5,344,667
World Wrestling Entertainment, Inc. - Class A (b)		26,603		2,308,609
				10,243,948
Equity Real Estate Investment Trusts—9.5%
Alexander & Baldwin, Inc.		41,216		1,048,535
American Campus Communities, Inc.		83,343		3,965,460
Brixmor Property Group, Inc.		181,634		3,336,617
Camden Property Trust		58,774		5,965,561
CoreCivic, Inc.		72,183		1,403,959
CoreSite Realty Corp.		22,327		2,389,436
Corporate Office Properties Trust		67,063		1,830,820
Cousins Properties, Inc.		255,683		2,469,898
CyrusOne, Inc.		65,843		3,452,807
Douglas Emmett, Inc.		98,355		3,975,509
EPR Properties		45,559		3,503,487
First Industrial Realty Trust, Inc.		76,995		2,722,543
Geo Group, Inc. (The)		73,424		1,409,741
Healthcare Realty Trust, Inc.		76,205		2,446,943

BHFTII-173

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Highwoods Properties, Inc.		62,985	$	2,946,438
Hospitality Properties Trust		100,015		2,631,395
JBG SMITH Properties		67,106		2,774,833
Kilroy Realty Corp.		61,407		4,664,476
Lamar Advertising Co. - Class A		51,797		4,105,430
Liberty Property Trust		89,986		4,357,122
Life Storage, Inc.		28,363		2,758,869
Mack-Cali Realty Corp.		54,933		1,219,513
Medical Properties Trust, Inc.		231,776		4,290,174
National Retail Properties, Inc.		98,298		5,444,726
Omega Healthcare Investors, Inc.		124,214		4,738,764
Pebblebrook Hotel Trust (b)		79,382		2,465,605
PotlatchDeltic Corp.		41,276		1,559,820
Rayonier, Inc.		78,756		2,482,389
Sabra Health Care REIT, Inc. (b)		108,458		2,111,677
Senior Housing Properties Trust		144,590		1,703,270
Tanger Factory Outlet Centers, Inc. (b)		57,136		1,198,713
Taubman Centers, Inc.		37,175		1,965,814
Uniti Group, Inc. (b)		108,858		1,218,121
Urban Edge Properties		69,538		1,321,222
Weingarten Realty Investors		72,755		2,136,814
				98,016,501
Food & Staples Retailing—0.4%
Casey’s General Stores, Inc.		22,264		2,866,936
Sprouts Farmers Market, Inc. (a) (b)		75,493		1,626,119
				4,493,055
Food Products—1.7%
Flowers Foods, Inc. (b)		111,593		2,379,163
Hain Celestial Group, Inc. (The) (a) (b)		54,460		1,259,115
Ingredion, Inc. (b)		40,548		3,839,490
Lancaster Colony Corp. (b)		11,879		1,861,320
Post Holdings, Inc. (a)		40,443		4,424,464
Sanderson Farms, Inc. (b)		11,859		1,563,491
Tootsie Roll Industries, Inc. (b)		11,588		431,550
TreeHouse Foods, Inc. (a) (b)		34,053		2,198,121
				17,956,714
Gas Utilities—1.9%
National Fuel Gas Co.		52,476		3,198,937
New Jersey Resources Corp.		53,992		2,688,261
ONE Gas, Inc.		31,975		2,846,734
Southwest Gas Holdings, Inc.		32,284		2,655,682
Spire, Inc.		30,861		2,539,552
UGI Corp.		105,735		5,859,834
				19,789,000
Health Care Equipment & Supplies—3.7%
Avanos Medical, Inc. (a)		28,861		1,231,787
Cantel Medical Corp.		22,076		1,476,664
Globus Medical, Inc. - Class A (a)		46,311		2,288,226
Haemonetics Corp. (a)		31,023		2,713,892
Hill-Rom Holdings, Inc.		40,546		4,292,200
ICU Medical, Inc. (a)		10,099		2,416,994
Health Care Equipment & Supplies—(Continued)
Inogen, Inc. (a) (b)		10,880		1,037,626
Integra LifeSciences Holdings Corp. (a)		43,025		2,397,353
LivaNova plc (a)		29,611		2,879,670
Masimo Corp. (a)		29,753		4,114,245
NuVasive, Inc. (a)		31,405		1,783,490
STERIS plc (a)		51,447		6,586,759
West Pharmaceutical Services, Inc.		45,121		4,972,334
				38,191,240
Health Care Providers & Services—2.3%
Acadia Healthcare Co., Inc. (a) (b)		53,799		1,576,849
Amedisys, Inc. (a)		17,717		2,183,797
Chemed Corp.		9,712		3,108,520
Covetrus, Inc. (a) (b)		58,160		1,852,396
Encompass Health Corp.		60,057		3,507,329
HealthEquity, Inc. (a) (b)		33,013		2,442,302
MEDNAX, Inc. (a)		53,473		1,452,861
Molina Healthcare, Inc. (a)		37,989		5,392,919
Patterson Cos., Inc. (b)		50,244		1,097,831
Tenet Healthcare Corp. (a)		50,579		1,458,698
				24,073,502
Health Care Technology—0.4%
Allscripts Healthcare Solutions, Inc. (a) (b)		104,206		994,125
Medidata Solutions, Inc. (a) (b)		37,877		2,774,112
				3,768,237
Hotels, Restaurants & Leisure—4.0%
Boyd Gaming Corp.		48,597		1,329,614
Brinker International, Inc. (b)		22,807		1,012,175
Caesars Entertainment Corp. (a) (b)		354,598		3,081,457
Cheesecake Factory, Inc. (The) (b)		25,367		1,240,954
Churchill Downs, Inc.		21,561		1,946,096
Cracker Barrel Old Country Store, Inc. (b)		14,622		2,363,061
Domino’s Pizza, Inc.		24,962		6,442,692
Dunkin’ Brands Group, Inc.		50,260		3,774,526
Eldorado Resorts, Inc. (a)		39,560		1,847,056
International Speedway Corp. - Class A		14,461		630,933
Jack in the Box, Inc.		15,696		1,272,318
Marriott Vacations Worldwide Corp.		23,923		2,236,800
Papa John’s International, Inc. (b)		13,689		724,832
Penn National Gaming, Inc. (a)		64,667		1,299,807
Scientific Games Corp. - Class A (a)		33,664		687,419
Six Flags Entertainment Corp.		43,465		2,144,998
Texas Roadhouse, Inc.		40,549		2,521,742
Wendy’s Co. (The) (b)		110,622		1,979,028
Wyndham Destinations Inc.		57,453		2,326,272
Wyndham Hotels & Resorts, Inc.		59,537		2,976,255
				41,838,035
Household Durables—1.5%
Helen of Troy, Ltd. (a) (b)		15,567		1,805,149
KB Home (b)		51,468		1,243,981
NVR, Inc. (a)		2,068		5,722,156
Tempur Sealy International, Inc. (a) (b)		27,916		1,609,916

BHFTII-174

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Durables—(Continued)
Toll Brothers, Inc.		81,599	$	2,953,884
TRI Pointe Group, Inc. (a) (b)		86,165		1,089,126
Tupperware Brands Corp.		29,599		757,142
				15,181,354
Household Products—0.2%
Energizer Holdings, Inc. (b)		38,673		1,737,578
Industrial Conglomerates—0.4%
Carlisle Cos., Inc.		34,837		4,271,713
Insurance—4.6%
Alleghany Corp. (a)		8,799		5,388,508
American Financial Group, Inc.		42,913		4,128,660
Brown & Brown, Inc.		141,197		4,166,723
CNO Financial Group, Inc.		97,748		1,581,563
First American Financial Corp.		67,801		3,491,752
Genworth Financial, Inc. - Class A (a)		304,566		1,166,488
Hanover Insurance Group, Inc. (The)		24,678		2,817,487
Kemper Corp.		37,023		2,818,931
Mercury General Corp.		16,492		825,754
Old Republic International Corp.		173,102		3,621,294
Primerica, Inc.		25,900		3,163,685
Reinsurance Group of America, Inc.		38,204		5,424,204
RenaissanceRe Holdings, Ltd.		25,671		3,683,788
W.R. Berkley Corp.		58,626		4,966,795
				47,245,632
Interactive Media & Services—0.2%
Cars.com, Inc. (a) (b)		37,711		859,811
Yelp, Inc. (a) (b)		45,897		1,583,446
				2,443,257
IT Services—2.7%
CACI International, Inc. - Class A (a)		15,122		2,752,506
CoreLogic, Inc. (a)		48,712		1,815,009
Leidos Holdings, Inc.		88,897		5,697,409
LiveRamp Holdings, Inc. (a)		41,500		2,264,655
MAXIMUS, Inc.		38,803		2,754,237
Perspecta, Inc.		85,535		1,729,518
Sabre Corp.		167,504		3,582,911
Science Applications International Corp.		30,955		2,381,987
WEX, Inc. (a)		26,216		5,033,210
				28,011,442
Leisure Products—0.5%
Brunswick Corp.		52,931		2,664,017
Polaris Industries, Inc.		34,853		2,942,639
				5,606,656
Life Sciences Tools & Services—1.8%
Bio-Rad Laboratories, Inc. - Class A (a)		12,248		3,743,969
Bio-Techne Corp.		22,970		4,560,693
Charles River Laboratories International, Inc. (a)		29,332		4,260,473
PRA Health Sciences, Inc. (a)		35,872		3,956,323
Life Sciences Tools & Services—(Continued)
Syneos Health, Inc. (a)		37,042		1,917,294
				18,438,752
Machinery—4.9%
AGCO Corp.		39,090		2,718,709
Colfax Corp. (a) (b)		57,809		1,715,771
Crane Co.		30,901		2,614,843
Donaldson Co., Inc.		77,784		3,893,867
Graco, Inc. (b)		100,536		4,978,543
IDEX Corp.		46,098		6,994,911
ITT, Inc.		53,157		3,083,106
Kennametal, Inc.		50,015		1,838,051
Lincoln Electric Holdings, Inc.		38,462		3,225,808
Nordson Corp. (b)		31,379		4,158,345
Oshkosh Corp.		42,603		3,200,763
Terex Corp. (b)		37,679		1,210,626
Timken Co. (The)		41,474		1,809,096
Toro Co. (The)		64,551		4,443,691
Trinity Industries, Inc. (b)		81,102		1,762,346
Woodward, Inc.		33,984		3,224,742
				50,873,218
Marine—0.2%
Kirby Corp. (a)		32,775		2,461,730
Media—1.1%
AMC Networks, Inc. - Class A (a) (b)		27,205		1,544,156
Cable One, Inc.		3,018		2,961,805
John Wiley & Sons, Inc. - Class A		27,511		1,216,537
Meredith Corp. (b)		24,315		1,343,647
New York Times Co. (The) - Class A		86,364		2,837,057
TEGNA, Inc.		131,252		1,850,653
				11,753,855
Metals & Mining—2.0%
Allegheny Technologies, Inc. (a) (b)		76,442		1,954,622
Carpenter Technology Corp.		28,817		1,321,259
Commercial Metals Co. (b)		71,544		1,221,972
Compass Minerals International, Inc. (b)		20,602		1,120,131
Reliance Steel & Aluminum Co.		40,798		3,682,428
Royal Gold, Inc. (b)		39,848		3,623,379
Steel Dynamics, Inc.		139,616		4,924,256
United States Steel Corp. (b)		105,356		2,053,388
Worthington Industries, Inc.		23,879		891,164
				20,792,599
Multi-Utilities—0.7%
Black Hills Corp.		32,845		2,432,829
MDU Resources Group, Inc.		119,265		3,080,615
NorthWestern Corp.		30,622		2,156,095
				7,669,539
Multiline Retail—0.3%
Dillard’s, Inc. - Class A (b)		11,238		809,361

BHFTII-175

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Multiline Retail—(Continued)
Ollie’s Bargain Outlet Holdings, Inc. (a)		31,361	$	2,676,034
				3,485,395
Oil, Gas & Consumable Fuels—2.6%
Callon Petroleum Co. (a) (b)		138,596		1,046,400
Chesapeake Energy Corp. (a) (b)		635,158		1,968,990
CNX Resources Corp. (a) (b)		120,629		1,299,174
EQT Corp. (b)		154,949		3,213,642
Equitrans Midstream Corp. (a) (b)		123,719		2,694,600
Matador Resources Co. (a) (b)		63,001		1,217,809
Murphy Oil Corp. (b)		98,939		2,898,913
Oasis Petroleum, Inc. (a) (b)		164,402		992,988
PBF Energy, Inc. - Class A		72,891		2,269,826
QEP Resources, Inc. (a)		143,760		1,119,890
Range Resources Corp.		126,285		1,419,443
SM Energy Co.		62,806		1,098,477
Southwestern Energy Co. (a)		329,236		1,544,117
World Fuel Services Corp.		40,854		1,180,272
WPX Energy, Inc. (a)		240,387		3,151,474
				27,116,015
Paper & Forest Products—0.4%
Domtar Corp.		38,271		1,900,155
Louisiana-Pacific Corp.		82,347		2,007,620
				3,907,775
Personal Products—0.3%
Edgewell Personal Care Co. (a) (b)		32,915		1,444,639
Nu Skin Enterprises, Inc. - Class A		33,671		1,611,494
				3,056,133
Pharmaceuticals—0.5%
Catalent, Inc. (a)		88,575		3,595,259
Mallinckrodt plc (a)		50,788		1,104,131
Prestige Consumer Healthcare, Inc. (a) (b)		31,504		942,285
				5,641,675
Professional Services—0.8%
ASGN, Inc. (a)		32,025		2,033,267
Insperity, Inc.		22,658		2,801,888
ManpowerGroup, Inc.		36,726		3,036,873
				7,872,028
Real Estate Management & Development—0.5%
Jones Lang LaSalle, Inc.		27,748		4,278,187
Realogy Holdings Corp.		69,023		786,862
				5,065,049
Road & Rail—1.7%
Avis Budget Group, Inc. (a)		38,710		1,349,430
Genesee & Wyoming, Inc. - Class A (a) (b)		34,235		2,983,238
Knight-Swift Transportation Holdings, Inc. (b)		75,762		2,475,902
Landstar System, Inc.		24,400		2,669,116
Old Dominion Freight Line, Inc.		39,484		5,701,095
Road & Rail—(Continued)
Ryder System, Inc.		32,306		2,002,649
Werner Enterprises, Inc. (b)		26,580		907,707
				18,089,137
Semiconductors & Semiconductor Equipment—3.4%
Cirrus Logic, Inc. (a)		35,970		1,513,258
Cree, Inc. (a) (b)		62,782		3,592,386
Cypress Semiconductor Corp. (b)		221,314		3,302,005
First Solar, Inc. (a) (b)		45,934		2,427,153
Integrated Device Technology, Inc. (a)		78,480		3,844,735
MKS Instruments, Inc.		32,964		3,067,300
Monolithic Power Systems, Inc.		24,014		3,253,657
Silicon Laboratories, Inc. (a)		26,207		2,119,098
Synaptics, Inc. (a) (b)		20,924		831,729
Teradyne, Inc.		105,603		4,207,223
Universal Display Corp. (b)		25,788		3,941,696
Versum Materials, Inc.		66,362		3,338,672
				35,438,912
Software—4.1%
ACI Worldwide, Inc. (a)		70,639		2,321,904
Blackbaud, Inc.		29,540		2,355,224
CDK Global, Inc.		75,851		4,461,556
CommVault Systems, Inc. (a)		23,448		1,518,023
Fair Isaac Corp. (a)		17,682		4,802,962
j2 Global, Inc. (b)		28,171		2,439,609
LogMeIn, Inc.		30,921		2,476,772
Manhattan Associates, Inc. (a) (b)		39,544		2,179,270
PTC, Inc. (a) (b)		64,936		5,985,800
Teradata Corp. (a)		71,343		3,114,122
Tyler Technologies, Inc. (a)		23,291		4,760,680
Ultimate Software Group, Inc. (The) (a)		19,269		6,361,275
				42,777,197
Specialty Retail—2.1%
Aaron’s, Inc.		40,873		2,149,920
American Eagle Outfitters, Inc.		101,942		2,260,054
AutoNation, Inc. (a) (b)		35,055		1,252,164
Bed Bath & Beyond, Inc. (b)		83,612		1,420,568
Dick’s Sporting Goods, Inc. (b)		44,862		1,651,370
Five Below, Inc. (a)		33,914		4,213,814
Michaels Cos., Inc. (The) (a) (b)		54,669		624,320
Murphy USA, Inc. (a)		18,248		1,562,394
Sally Beauty Holdings, Inc. (a) (b)		73,320		1,349,821
Signet Jewelers, Ltd. (b)		31,573		857,523
Urban Outfitters, Inc. (a) (b)		45,828		1,358,342
Williams-Sonoma, Inc. (b)		48,751		2,743,219
				21,443,509
Technology Hardware, Storage & Peripherals—0.2%
NCR Corp. (a)		72,342		1,974,213
Textiles, Apparel & Luxury Goods—0.8%
Carter’s, Inc. (b)		27,689		2,790,774
Deckers Outdoor Corp. (a)		17,718		2,604,369

BHFTII-176

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Textiles, Apparel & Luxury Goods—(Continued)
Skechers USA, Inc. - Class A (a)		81,171	$	2,728,157
				8,123,300
Thrifts & Mortgage Finance—0.6%
LendingTree, Inc. (a) (b)		4,527		1,591,512
New York Community Bancorp, Inc. (b)		284,238		3,288,634
Washington Federal, Inc.		49,333		1,425,230
				6,305,376
Trading Companies & Distributors—0.7%
GATX Corp. (b)		22,260		1,699,996
MSC Industrial Direct Co., Inc. - Class A		27,459		2,271,134
NOW, Inc. (a) (b)		65,953		920,704
Watsco, Inc.		19,547		2,799,326
				7,691,160
Water Utilities—0.4%
Aqua America, Inc. (b)		108,350		3,948,274
Wireless Telecommunication Services—0.2%
Telephone & Data Systems, Inc.		57,022		1,752,286
Total Common Stocks (Cost $790,502,015)				1,020,652,328
Mutual Fund—1.1%
Investment Company Security—1.1%
SPDR S&P MidCap 400 ETF Trust (Cost $10,690,398)		32,300		11,156,420
Short-Term Investments—0.8%
Discount Notes—0.4%
Fannie Mae 2.375%, 05/08/19 (d)		450,000		448,881
Federal Home Loan Bank 2.270%, 04/15/19 (d)		3,775,000		3,771,447
2.370%, 05/03/19 (d)		250,000		249,462
2.427%, 05/24/19 (d)		200,000		199,288
				4,669,078
U.S. Treasury—0.4%
U.S. Treasury Bills 2.318%, 04/18/19 (d)		1,525,000		1,523,277
2.372%, 05/30/19 (d)		2,750,000		2,739,397
				4,262,674
Total Short-Term Investments (Cost $8,931,699)				8,931,752
Securities Lending Reinvestments (e)—18.8%
Security Description	Principal Amount*		Value
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (f)		1,000,000		1,000,000
Certificates of Deposit—11.6%
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (f)		3,000,000		3,001,065
Banco Santander S.A. 2.790%, 04/16/19		1,000,000		1,000,171
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (f)		5,000,000		5,004,830
Bank of Nova Scotia 2.860%, SOFR + 0.430%, 05/16/19 (f)		4,000,000		3,999,997
Barclays Bank plc 2.950%, 08/02/19		6,000,000		6,001,620
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (f)		2,000,000		1,999,988
2.784%, 3M LIBOR + 0.050%, 11/06/19 (f)		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.734%, 1M LIBOR + 0.250%, 10/15/19 (f)		2,000,000		2,001,640
2.752%, 1M LIBOR + 0.270%, 07/19/19 (f)		3,000,000		3,001,833
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (f)		5,000,000		5,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (f)		1,250,000		1,250,307
Cooperative Rabobank UA 2.933%, 3M LIBOR + 0.150%, 01/08/20 (f)		3,000,000		3,001,329
Credit Agricole S.A. 2.807%, 1M LIBOR + 0.320%, 05/21/19 (f)		3,000,000		3,000,774
Credit Industriel et Commercial
Zero Coupon, 08/01/19		985,416		991,010
2.887%, 3M LIBOR + 0.090%, 10/15/19 (f)		5,000,000		5,001,815
Credit Suisse AG 2.620%, 04/01/19		5,000,000		5,000,070
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (f)		5,000,000		4,999,551
KBC Bank NV
Zero Coupon, 04/23/19		4,965,732		4,992,900
Mizuho Bank, Ltd.
Zero Coupon, 05/28/19		4,966,855		4,979,239
Mizuho Bank, Ltd., New York 2.863%, 3M LIBOR + 0.080%, 07/09/19 (f)		2,000,000		1,999,824
MUFG Bank Ltd. 2.800%, 07/16/19		2,000,000		2,001,236
Natixis New York 2.937%, 3M LIBOR + 0.150%, 10/15/19 (f)		2,000,000		2,001,266
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (f)		2,000,000		2,001,124
Shizuoka Bank, Ltd. 2.600%, 05/07/19		2,000,000		2,000,090
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (f)		3,000,000		3,000,198
Societe Generale 2.863%, 3M LIBOR + 0.080%, 07/09/19 (f)		2,000,000		2,000,162
2.863%, 3M LIBOR + 0.200%, 08/21/19 (f)		5,005,769		5,002,840
2.899%, 3M LIBOR + 0.160%, 05/07/19 (f)		2,000,000		2,000,504

BHFTII-177

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (f)		3,500,000	$	3,500,801
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (f)		3,000,000		3,000,114
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		5,943,402		5,978,280
2.600%, 07/05/19		3,000,000		3,000,153
Svenska Handelsbanken AB 2.799%, 1M LIBOR + 0.300%, 10/31/19 (f)		2,000,000		2,002,266
2.873%, 1M LIBOR + 0.380%, 12/10/19 (f)		3,000,000		3,005,274
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (f)		2,000,000		2,001,028
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (f)		3,000,000		3,001,230
Wells Fargo Bank N.A. 2.975%, 3M LIBOR + 0.210%, 10/25/19 (f)		2,000,000		2,000,000
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (f)		6,000,000		5,999,966
				120,724,495
Commercial Paper—3.6%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (f)		5,000,000		5,000,065
Bank of China, Ltd. 2.890%, 04/17/19		5,956,650		5,991,474
Barton Capital S.A. 2.650%, 05/02/19		1,986,750		1,995,160
China Construction Bank Corp. 2.860%, 04/18/19		4,964,250		4,992,905
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (f)		8,000,000		8,001,112
2.807%, 3M LIBOR + 0.110%, 05/10/19 (f)		1,000,000		1,000,247
Matchpoint Finance plc 2.450%, 04/01/19		999,796		999,781
Royal Bank of Canada 2.957%, 3M LIBOR + 0.160%, 01/14/20 (f)		3,000,000		3,003,135
Toyota Motor Credit Corp. 2.620%, 08/29/19		4,935,592		4,945,575
Westpac Banking Corp. 2.809%, 3M LIBOR + 0.070%, 08/07/19 (f)		1,500,000		1,500,594
				37,430,048
Repurchase Agreements—2.4%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $10,078,594; collateralized by various Common Stock with an aggregate market value of $11,002,760.		10,000,000		10,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $2,005,444; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $3,559,212; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $3,629,634.		3,558,465		3,558,465
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $1,050,724; collateralized by various Common Stock with an aggregate market value of $1,100,001.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $4,030,811; collateralized by various Common Stock with an aggregate market value of $4,400,000.		4,000,000		4,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $907,132; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $964,220.		900,000		900,000
Societe Generale Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $1,026,216; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,112,202.		1,000,000		1,000,000
				24,458,465
Time Deposits—1.1%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
DNB Bank ASA 2.350%, 04/01/19		4,000,000		4,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		1,000,000		1,000,000
				11,000,000
Total Securities Lending Reinvestments (Cost $194,576,531)				194,613,008
Total Investments—119.2% (Cost $1,004,700,643)				1,235,353,508
Other assets and liabilities (net)—(19.2)%				(198,856,051	)
Net Assets—100.0%			$	1,036,497,457

BHFTII-178

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $199,159,442 and the collateral received consisted of cash in the amount of $194,418,677 and non-cash collateral with a value of $9,320,613. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2019, the market value of securities pledged was $2,372,200.
(d)	The rate shown represents current yield to maturity.
(e)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(f)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation
S&P Midcap 400 Index E-Mini Futures		06/21/19		46		USD	8,744,600	$	51,913

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-179

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,020,652,328	$	—		$	—	$	1,020,652,328
Total Mutual Fund*		11,156,420		—			—		11,156,420
Total Short-Term Investments*		—		8,931,752			—		8,931,752
Total Securities Lending Reinvestments*		—		194,613,008			—		194,613,008
Total Investments	$	1,031,808,748	$	203,544,760		$	—	$	1,235,353,508
Collateral for Securities Loaned (Liability)	$	—	$	(194,418,677	)	$	—	$	(194,418,677	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	51,913	$	—		$	—	$	51,913

* See Schedule of Investments for additional detailed categorizations.

BHFTII-180

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—95.1% of Net Assets

Security Description	Shares		Value
Australia—7.0%
AGL Energy, Ltd.		45,920	$	710,371
Alumina, Ltd.		191,453		331,381
Amcor, Ltd.		83,280		911,437
AMP, Ltd.		197,480		296,025
APA Group		80,604		573,101
Aristocrat Leisure, Ltd.		41,217		720,786
ASX, Ltd.		14,426		717,878
Aurizon Holdings, Ltd.		157,842		511,497
AusNet Services		135,720		171,444
Australia & New Zealand Banking Group, Ltd.		210,073		3,903,108
Bank of Queensland, Ltd.		24,917		161,617
Bendigo & Adelaide Bank, Ltd.		35,779		245,780
BGP Holdings plc (a) (b) (c) (d)		713,624		0
BHP Group plc		154,705		3,739,420
BHP Group, Ltd.		215,308		5,885,684
BlueScope Steel, Ltd.		45,759		454,995
Boral, Ltd.		86,560		283,317
Brambles, Ltd.		109,798		919,950
Caltex Australia, Ltd.		18,604		346,870
Challenger, Ltd.		44,035		260,375
CIMIC Group, Ltd.		8,428		289,437
Coca-Cola Amatil, Ltd.		42,510		261,417
Cochlear, Ltd.		4,099		506,505
Coles Group, Ltd. (c)		80,874		680,987
Commonwealth Bank of Australia		128,977		6,497,574
Computershare, Ltd.		28,910		351,418
Crown Resorts, Ltd.		29,464		241,401
CSL, Ltd.		32,919		4,575,080
Dexus		77,269		699,046
Fortescue Metals Group, Ltd.		125,869		637,178
Goodman Group (REIT)		118,280		1,120,910
GPT Group (The) (REIT)		140,241		618,190
Incitec Pivot, Ltd.		131,085		291,542
Insurance Australia Group, Ltd.		180,136		986,085
Lend Lease Group (REIT)		39,184		345,344
Macquarie Group, Ltd.		23,361		2,147,933
Medibank Private, Ltd.		199,900		392,717
Mirvac Group (REIT)		272,935		532,077
National Australia Bank, Ltd.		198,109		3,568,397
Newcrest Mining, Ltd.		56,335		1,018,341
Oil Search, Ltd.		104,563		580,994
Orica, Ltd.		26,176		328,930
Origin Energy, Ltd. (c)		119,590		614,729
QBE Insurance Group, Ltd.		93,998		820,858
Ramsay Health Care, Ltd.		10,616		485,691
REA Group, Ltd.		4,158		221,507
Rio Tinto, Ltd.		28,205		1,968,212
Santos, Ltd.		145,305		708,329
Scentre Group (REIT)		367,395		1,075,137
Seek, Ltd.		22,233		277,823
Sonic Healthcare, Ltd.		32,696		571,234
South32, Ltd.		363,229		964,430
Stockland (REIT)		162,137		443,926
Suncorp Group, Ltd.		95,658		935,633
Sydney Airport		80,467		425,245
Tabcorp Holdings, Ltd.		153,298		503,870
Telstra Corp., Ltd.		309,539		731,648
Australia—(Continued)
Transurban Group		195,278		1,832,728
Treasury Wine Estates, Ltd.		53,467		569,292
Vicinity Centres (REIT)		252,185		465,454
Washington H Soul Pattinson & Co., Ltd.		7,905		147,896
Wesfarmers, Ltd.		80,874		1,992,843
Westpac Banking Corp.		248,548		4,572,772
Woodside Petroleum, Ltd.		68,426		1,688,344
Woolworths Group, Ltd.		97,245		2,104,414
WorleyParsons, Ltd.		23,498		237,013
				72,175,567
Austria—0.2%
Andritz AG		5,828		250,473
Erste Group Bank AG (c)		24,346		895,725
OMV AG		9,828		533,591
Raiffeisen Bank International AG		9,390		211,179
Verbund AG		4,951		237,691
Voestalpine AG		9,525		290,887
				2,419,546
Belgium—1.0%
Ageas		12,505		603,883
Anheuser-Busch InBev S.A.		55,258		4,642,349
Colruyt S.A.		4,373		323,686
Groupe Bruxelles Lambert S.A.		5,864		570,964
KBC Group NV		17,769		1,243,810
Proximus SADP		11,920		344,393
Solvay S.A.		5,735		621,761
Telenet Group Holding NV		4,184		201,539
UCB S.A.		9,619		827,262
Umicore S.A. (e)		15,189		678,177
				10,057,824
Chile—0.0%
Antofagasta plc		26,957		341,202
China—0.2%
BeiGene, Ltd. (ADR) (c)		2,400		316,800
BOC Hong Kong Holdings, Ltd.		258,465		1,069,979
Minth Group, Ltd.		54,000		170,226
Yangzijiang Shipbuilding Holdings, Ltd.		176,900		196,656
				1,753,661
Denmark—1.7%
AP Moller-Maersk A/S - Class A		274		331,969
AP Moller-Maersk A/S - Class B (e)		493		626,687
Carlsberg A/S - Class B		7,850		981,906
Chr Hansen Holding A/S		7,473		760,172
Coloplast A/S - Class B		8,619		946,861
Danske Bank A/S		53,890		947,461
Demant A/S (c)		7,349		217,846
DSV A/S		14,050		1,163,882
Genmab A/S (c)		4,236		735,954
H Lundbeck A/S		5,421		234,957
ISS A/S		12,164		370,634

BHFTII-181

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Denmark—(Continued)
Novo Nordisk A/S - Class B		132,271	$	6,932,046
Novozymes A/S - B Shares		16,399		755,136
Orsted A/S		14,039		1,065,503
Pandora A/S		7,708		361,600
Tryg A/S		8,735		239,994
Vestas Wind Systems A/S		14,221		1,198,988
				17,871,596
Finland—1.1%
Elisa Oyj		9,227		416,848
Fortum Oyj		30,377		622,057
Kone Oyj - Class B		26,344		1,331,231
Metso Oyj		7,511		258,979
Neste Oyj		9,073		967,599
Nokia Oyj		432,039		2,460,230
Nokian Renkaat Oyj		7,495		251,352
Nordea Bank Abp		226,093		1,725,415
Orion Oyj - Class B		8,084		303,448
Sampo Oyj - A Shares		32,484		1,474,681
Stora Enso Oyj - R Shares		40,497		497,296
UPM-Kymmene Oyj		37,640		1,100,281
Wartsila Oyj Abp		31,392		507,509
				11,916,926
France—10.5%
Accor S.A.		13,973		566,854
Aeroports de Paris		2,209		427,804
Air Liquide S.A.		30,993		3,950,118
Airbus SE		42,287		5,612,952
Alstom S.A.		13,166		571,874
Amundi S.A.		4,463		281,866
Arkema S.A.		5,073		484,887
Atos SE		7,084		686,435
AXA S.A.		140,288		3,538,530
BioMerieux		3,058		253,669
BNP Paribas S.A.		81,356		3,903,012
Bollore S.A.		61,600		279,146
Bouygues S.A.		14,921		534,004
Bureau Veritas S.A.		19,643		462,055
Capgemini SE		11,166		1,359,357
Carrefour S.A.		42,889		803,038
Casino Guichard Perrachon S.A. (e)		3,989		173,406
Cie de St-Gobain		37,286		1,353,904
Cie Generale des Etablissements Michelin		12,172		1,444,253
CNP Assurances		10,520		231,889
Covivio		3,163		336,218
Credit Agricole S.A.		81,608		989,697
Danone S.A.		44,560		3,440,454
Dassault Aviation S.A.		183		270,269
Dassault Systemes SE		9,434		1,408,095
Edenred		17,136		781,209
Eiffage S.A.		5,760		554,336
Electricite de France S.A.		42,972		588,662
Engie S.A.		134,009		2,001,114
EssilorLuxottica S.A. (e)		21,417		2,342,832
Eurazeo S.A.		2,731		205,768
France—(Continued)
Eutelsat Communications S.A.		14,990		263,054
Faurecia S.A.		5,604		237,091
Gecina S.A. (REIT)		3,720		551,159
Getlink SE		32,808		498,304
Hermes International		2,306		1,525,469
ICADE (REIT) (e)		2,561		216,907
Iliad S.A.		1,762		177,471
Imerys S.A.		2,253		112,751
Ingenico Group S.A.		4,093		293,197
Ipsen S.A.		2,947		405,052
JCDecaux S.A.		4,706		143,622
Kering S.A.		5,564		3,202,993
Klepierre S.A. (REIT)		16,658		584,030
L’Oreal S.A.		18,412		4,960,222
Legrand S.A.		18,736		1,257,239
LVMH Moet Hennessy Louis Vuitton SE		20,298		7,492,836
Natixis S.A.		61,192		327,985
Orange S.A.		146,174		2,381,929
Pernod-Ricard S.A.		15,201		2,732,928
Peugeot S.A.		40,345		987,244
Publicis Groupe S.A.		15,420		827,997
Remy Cointreau S.A.		1,860		248,442
Renault S.A.		14,189		940,792
Rexel S.A.		20,752		234,502
Safran S.A.		24,628		3,382,593
Sanofi		82,145		7,271,127
Sartorius Stedim Biotech		2,011		255,074
Schneider Electric SE		39,783		3,131,757
SCOR SE		11,686		498,371
SEB S.A.		1,809		304,856
Societe BIC S.A.		2,149		191,890
Societe Generale S.A.		55,187		1,601,460
Sodexo S.A.		6,778		747,276
Suez		28,840		382,533
Teleperformance SE		4,265		767,705
Thales S.A.		7,807		937,519
Total S.A. (e)		175,741		9,768,946
UBISOFT Entertainment S.A. (c)		5,696		508,785
Unibail-Rodamco-Westfield		9,927		1,628,954
Valeo S.A.		18,217		530,888
Veolia Environnement S.A.		38,959		872,245
Vinci S.A.		37,291		3,633,466
Vivendi S.A.		76,316		2,214,589
Wendel S.A.		2,267		286,365
				109,357,322
Germany—7.7%
1&1 Drillisch AG		3,915		139,295
adidas AG		13,435		3,267,141
Allianz SE		31,257		6,958,968
Aroundtown S.A.		56,219		464,086
Axel Springer SE		3,006		155,293
BASF SE		66,273		4,871,958
Bayer AG		67,889		4,391,862
Bayerische Motoren Werke AG		23,596		1,821,410
Beiersdorf AG		7,090		738,338

BHFTII-182

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Germany—(Continued)
Brenntag AG		11,405	$	587,626
Commerzbank AG (c)		77,199		598,089
Continental AG		8,198		1,235,277
Covestro AG		13,863		763,376
Daimler AG		66,196		3,883,018
Delivery Hero AG (c)		6,695		242,151
Deutsche Bank AG		146,810		1,196,721
Deutsche Boerse AG		14,033		1,801,002
Deutsche Lufthansa AG		17,782		390,613
Deutsche Post AG		71,872		2,340,488
Deutsche Telekom AG		241,713		4,015,866
Deutsche Wohnen SE		24,681		1,198,476
E.ON SE		159,780		1,778,664
Evonik Industries AG		13,109		357,268
Fraport AG Frankfurt Airport Services Worldwide		3,260		249,842
Fresenius Medical Care AG & Co. KGaA		15,649		1,259,993
Fresenius SE & Co. KGaA		30,614		1,706,942
GEA Group AG		14,300		374,935
Hannover Rueck SE		4,145		595,716
HeidelbergCement AG		10,444		751,543
Henkel AG & Co. KGaA		7,933		754,587
HOCHTIEF AG		1,646		238,467
Hugo Boss AG		4,934		337,162
Infineon Technologies AG		84,354		1,675,148
Innogy SE		11,200		518,397
KION Group AG		5,441		284,738
LANXESS AG		5,571		297,422
Merck KGaA		9,421		1,075,253
METRO AG		15,747		261,345
MTU Aero Engines AG		3,839		870,044
Muenchener Rueckversicherungs-Gesellschaft AG		10,610		2,513,715
OSRAM Licht AG		7,381		254,178
ProSiebenSat.1 Media SE		14,779		210,837
Puma SE		604		350,681
RWE AG		39,146		1,049,949
SAP SE		71,302		8,246,617
Siemens AG		55,353		5,962,892
Siemens Healthineers AG (c)		10,900		454,749
Symrise AG		8,745		788,334
Telefonica Deutschland Holding AG		58,800		184,823
ThyssenKrupp AG		31,577		434,221
TUI AG		30,068		289,228
Uniper SE		14,858		448,717
United Internet AG		8,781		320,843
Volkswagen AG		2,495		406,468
Vonovia SE		35,809		1,858,011
Wirecard AG		8,665		1,087,359
Zalando SE (c)		8,719		340,260
				79,650,402
Hong Kong—3.6%
AIA Group, Ltd.		879,000		8,749,569
ASM Pacific Technology, Ltd.		19,600		218,968
Bank of East Asia, Ltd. (The)		103,920		337,557
CK Asset Holdings, Ltd.		188,440		1,675,348
CK Hutchison Holdings, Ltd.		201,440		2,115,572
Hong Kong—(Continued)
CK Infrastructure Holdings, Ltd.		49,500		406,365
CLP Holdings, Ltd.		116,377		1,350,360
Dairy Farm International Holdings, Ltd.		24,600		206,432
Galaxy Entertainment Group, Ltd.		173,000		1,177,711
Hang Lung Group, Ltd.		74,000		237,539
Hang Lung Properties, Ltd.		162,000		395,370
Hang Seng Bank, Ltd.		54,400		1,342,234
Henderson Land Development Co., Ltd.		91,192		579,631
HK Electric Investments & HK Electric Investments, Ltd.		197,500		201,905
HKT Trust & HKT, Ltd.		277,980		446,900
Hong Kong & China Gas Co., Ltd.		693,469		1,662,514
Hong Kong Exchanges and Clearing, Ltd.		86,500		3,014,467
Hongkong Land Holdings, Ltd.		86,500		615,692
Hysan Development Co., Ltd.		45,000		241,036
Jardine Matheson Holdings, Ltd.		16,900		1,054,936
Jardine Strategic Holdings, Ltd.		14,600		547,530
Kerry Properties, Ltd.		57,500		256,723
Link REIT (REIT)		150,141		1,755,683
Melco Resorts & Entertainment, Ltd. (ADR)		19,800		447,282
MTR Corp., Ltd.		110,500		684,992
New World Development Co., Ltd.		463,707		769,016
NWS Holdings, Ltd.		99,000		216,401
PCCW, Ltd.		316,000		196,445
Power Assets Holdings, Ltd.		107,549		745,968
Sino Land Co., Ltd.		247,600		478,745
Sun Hung Kai Properties, Ltd.		116,250		1,994,570
Swire Pacific, Ltd. - Class A		36,817		474,206
Swire Properties, Ltd.		83,600		359,666
Techtronic Industries Co., Ltd.		95,000		640,444
WH Group, Ltd.		654,000		699,676
Wharf Holdings, Ltd. (The)		87,976		265,580
Wharf Real Estate Investment Co., Ltd.		87,976		654,992
Wheelock & Co., Ltd.		68,000		499,006
Yue Yuen Industrial Holdings, Ltd.		50,500		173,685
				37,890,716
Ireland—0.6%
AerCap Holdings NV (c)		10,200		474,708
AIB Group plc		60,112		270,315
Bank of Ireland Group plc		80,170		478,204
CRH plc		63,163		1,960,856
James Hardie Industries plc		31,140		401,942
Kerry Group plc - Class A		11,539		1,289,656
Kingspan Group plc		11,136		516,353
Paddy Power Betfair plc		6,200		478,708
Smurfit Kappa Group plc		16,402		458,530
				6,329,272
Israel—0.5%
Azrieli Group, Ltd.		3,090		183,303
Bank Hapoalim B.M.		79,475		528,746
Bank Leumi Le-Israel B.M.		109,068		715,936
Check Point Software Technologies, Ltd. (c)		9,300		1,176,357
Elbit Systems, Ltd.		1,811		234,477
Israel Chemicals, Ltd.		54,463		285,488
Mizrahi Tefahot Bank, Ltd.		11,922		246,062

BHFTII-183

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Israel—(Continued)
Nice, Ltd. (c)		4,746	$	579,090
Teva Pharmaceutical Industries, Ltd. (ADR) (c)		70,353		1,103,135
Wix.com, Ltd. (c)		3,200		386,656
				5,439,250
Italy—2.0%
Assicurazioni Generali S.p.A.		85,274		1,580,449
Atlantia S.p.A.		36,067		936,766
Davide Campari-Milano S.p.A.		42,874		421,750
Enel S.p.A.		602,326		3,859,027
Eni S.p.A.		184,398		3,260,692
Ferrari NV		8,924		1,200,569
Intesa Sanpaolo S.p.A.		1,083,294		2,642,549
Leonardo S.p.A.		28,782		335,930
Mediobanca S.p.A.		44,816		466,349
Moncler S.p.A.		13,024		526,942
Pirelli & C S.p.A. (c)		29,117		188,164
Poste Italiane S.p.A.		41,357		402,895
Prysmian S.p.A.		16,202		307,006
Recordati S.p.A.		8,194		319,710
Snam S.p.A.		162,854		838,566
Telecom Italia S.p.A. (c) (e)		826,906		514,915
Telecom Italia S.p.A. - Risparmio Shares		437,140		249,217
Terna Rete Elettrica Nazionale S.p.A.		92,957		590,235
UniCredit S.p.A.		142,434		1,829,185
				20,470,916
Japan—22.9%
Aeon Co., Ltd.		44,500		933,422
AEON Financial Service Co., Ltd.		8,400		171,357
Air Water, Inc.		10,000		145,575
Aisin Seiki Co., Ltd.		10,600		380,704
Ajinomoto Co., Inc.		31,900		511,090
Alfresa Holdings Corp.		15,300		436,561
Alps Electric Co., Ltd.		13,100		274,961
Amada Holdings Co., Ltd.		27,000		267,912
ANA Holdings, Inc.		8,400		308,627
Aozora Bank, Ltd.		9,600		238,050
Asahi Glass Co., Ltd.		12,600		443,300
Asahi Group Holdings, Ltd.		27,300		1,220,873
Asahi Intecc Co., Ltd.		7,100		334,689
Asahi Kasei Corp.		97,000		1,006,777
Asics Corp.		11,000		148,091
Astellas Pharma, Inc.		141,100		2,119,743
Bandai Namco Holdings, Inc.		16,000		751,962
Bank of Kyoto, Ltd. (The)		4,400		184,849
Benesse Holdings, Inc.		5,400		140,763
Bridgestone Corp.		44,400		1,716,619
Brother Industries, Ltd.		16,400		304,676
Calbee, Inc.		5,500		148,517
Canon, Inc.		72,900		2,121,085
Casio Computer Co., Ltd. (e)		16,900		221,360
Central Japan Railway Co.		10,500		2,443,260
Chiba Bank, Ltd. (The)		49,000		267,163
Chubu Electric Power Co., Inc.		45,700		714,566
Chugai Pharmaceutical Co., Ltd.		16,800		1,158,512
Japan—(Continued)
Chugoku Electric Power Co., Inc. (The) (e)		23,700		296,139
Coca-Cola Bottlers Japan Holdings, Inc.		9,900		251,956
Concordia Financial Group, Ltd.		83,000		320,728
Credit Saison Co., Ltd.		10,500		138,908
CyberAgent, Inc.		7,400		303,046
Dai Nippon Printing Co., Ltd.		20,000		479,849
Dai-ichi Life Holdings, Inc.		75,800		1,057,619
Daicel Corp.		22,000		239,717
Daifuku Co., Ltd.		7,400		387,698
Daiichi Sankyo Co., Ltd.		42,100		1,950,007
Daikin Industries, Ltd.		18,200		2,140,852
Daito Trust Construction Co., Ltd.		5,200		725,854
Daiwa House Industry Co., Ltd.		42,500		1,353,869
Daiwa House REIT Investment Corp. (REIT)		110		244,504
Daiwa Securities Group, Inc.		118,000		576,926
Denso Corp.		31,000		1,212,972
Dentsu, Inc.		16,600		704,275
Disco Corp.		2,300		329,367
East Japan Railway Co.		22,300		2,159,472
Eisai Co., Ltd.		18,200		1,024,996
Electric Power Development Co., Ltd.		10,900		266,104
FamilyMart UNY Holdings Co., Ltd.		17,600		449,308
FANUC Corp.		14,000		2,399,271
Fast Retailing Co., Ltd.		4,300		2,026,930
Fuji Electric Co., Ltd.		8,600		245,558
FUJIFILM Holdings Corp.		29,400		1,341,289
Fujitsu, Ltd.		14,600		1,058,681
Fukuoka Financial Group, Inc.		10,600		236,134
Hakuhodo DY Holdings, Inc.		17,600		283,736
Hamamatsu Photonics KK		9,600		373,253
Hankyu Hanshin Holdings, Inc.		16,400		617,108
Hikari Tsushin, Inc.		1,800		341,847
Hino Motors, Ltd.		19,000		160,695
Hirose Electric Co., Ltd.		2,415		255,185
Hisamitsu Pharmaceutical Co., Inc.		4,500		208,021
Hitachi Construction Machinery Co., Ltd.		8,900		237,632
Hitachi High-Technologies Corp.		5,500		226,394
Hitachi Metals, Ltd.		20,000		233,385
Hitachi, Ltd.		70,200		2,283,804
Honda Motor Co., Ltd.		118,800		3,224,068
Hoshizaki Corp.		4,100		254,967
Hoya Corp.		26,800		1,775,675
Hulic Co., Ltd.		17,100		168,252
Idemitsu Kosan Co., Ltd.		10,500		351,178
IHI Corp.		12,200		294,475
Iida Group Holdings Co., Ltd.		12,700		230,907
Inpex Corp.		71,100		675,775
Isetan Mitsukoshi Holdings, Ltd.		26,900		272,512
Isuzu Motors, Ltd.		43,700		577,270
ITOCHU Corp.		105,400		1,915,208
J Front Retailing Co., Ltd.		17,900		213,818
Japan Airlines Co., Ltd.		8,400		296,272
Japan Exchange Group, Inc.		38,100		679,037
Japan Post Bank Co., Ltd.		30,800		337,189
Japan Post Holdings Co., Ltd.		119,400		1,399,813
Japan Prime Realty Investment Corp. (REIT)		51		210,356
Japan Real Estate Investment Corp. (REIT)		96		566,669

BHFTII-184

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Japan Retail Fund Investment Corp. (REIT)		202	$	406,616
Japan Tobacco, Inc.		79,300		1,972,340
JFE Holdings, Inc.		35,100		597,648
JGC Corp.		14,000		187,180
JSR Corp.		11,000		171,319
JTEKT Corp.		20,000		247,430
JXTG Holdings, Inc.		237,600		1,083,128
Kajima Corp.		32,000		473,707
Kakaku.com, Inc.		10,700		206,407
Kamigumi Co., Ltd.		8,500		197,395
Kaneka Corp.		4,400		165,696
Kansai Electric Power Co., Inc. (The)		55,000		812,556
Kansai Paint Co., Ltd.		10,300		196,977
Kao Corp.		35,200		2,782,587
Kawasaki Heavy Industries, Ltd.		12,400		306,883
KDDI Corp.		127,000		2,743,054
Keihan Holdings Co., Ltd.		7,800		328,807
Keikyu Corp.		18,000		306,618
Keio Corp.		6,600		427,660
Keisei Electric Railway Co., Ltd.		10,000		364,293
Keyence Corp.		7,100		4,441,638
Kikkoman Corp.		9,600		472,240
Kintetsu Group Holdings Co., Ltd.		12,612		589,065
Kirin Holdings Co., Ltd.		60,300		1,445,485
Kobayashi Pharmaceutical Co., Ltd.		3,600		304,709
Kobe Steel, Ltd.		27,200		205,179
Koito Manufacturing Co., Ltd.		7,700		438,807
Komatsu, Ltd.		65,500		1,533,804
Konami Holdings Corp.		7,300		317,823
Konica Minolta, Inc.		37,000		365,404
Kose Corp.		2,300		424,720
Kubota Corp.		70,700		1,027,425
Kuraray Co., Ltd.		24,500		312,724
Kurita Water Industries, Ltd.		7,100		181,794
Kyocera Corp.		22,700		1,338,840
Kyowa Hakko Kirin Co., Ltd.		20,000		436,428
Kyushu Electric Power Co., Inc.		25,900		306,378
Kyushu Railway Co.		12,700		418,352
Lawson, Inc.		3,800		211,050
LINE Corp. (c)		5,300		186,621
Lion Corp.		19,000		400,907
LIXIL Group Corp.		19,000		254,325
M3, Inc.		31,400		529,293
Makita Corp.		15,200		531,036
Marubeni Corp.		114,800		798,505
Marui Group Co., Ltd.		16,000		324,083
Mazda Motor Corp.		43,000		482,870
McDonald’s Holdings Co. Japan, Ltd.		5,400		250,283
Mebuki Financial Group, Inc.		63,100		161,945
Medipal Holdings Corp.		10,700		254,818
MEIJI Holdings Co., Ltd.		9,600		780,943
Minebea Mitsumi, Inc.		30,800		466,054
MISUMI Group, Inc.		22,200		555,641
Mitsubishi Chemical Holdings Corp.		93,700		662,521
Mitsubishi Corp.		98,500		2,748,288
Mitsubishi Electric Corp.		131,200		1,695,152
Mitsubishi Estate Co., Ltd.		86,400		1,571,252
Japan—(Continued)
Mitsubishi Gas Chemical Co., Inc.		13,000		186,325
Mitsubishi Heavy Industries, Ltd.		20,800		866,267
Mitsubishi Materials Corp.		7,900		209,289
Mitsubishi Motors Corp.		44,999		240,280
Mitsubishi Tanabe Pharma Corp.		15,300		204,897
Mitsubishi UFJ Financial Group, Inc.		860,888		4,278,396
Mitsubishi UFJ Lease & Finance Co., Ltd.		30,700		156,868
Mitsui & Co., Ltd.		118,417		1,844,085
Mitsui Chemicals, Inc.		15,000		363,632
Mitsui Fudosan Co., Ltd.		65,000		1,639,849
Mitsui OSK Lines, Ltd.		7,500		162,223
Mizuho Financial Group, Inc.		1,752,400		2,719,558
MonotaRO Co., Ltd.		9,200		205,537
MS&AD Insurance Group Holdings, Inc.		35,900		1,095,732
Murata Manufacturing Co., Ltd.		38,700		1,937,529
Nabtesco Corp.		7,500		220,296
Nagoya Railroad Co., Ltd.		14,800		411,206
NEC Corp.		20,600		701,182
Nexon Co., Ltd. (c)		32,300		508,248
NGK Insulators, Ltd.		19,300		281,546
NGK Spark Plug Co., Ltd.		12,000		223,905
NH Foods, Ltd.		7,000		252,400
Nidec Corp.		16,300		2,083,481
Nikon Corp.		22,500		318,484
Nintendo Co., Ltd.		8,100		2,322,626
Nippon Building Fund, Inc. (REIT)		88		596,561
Nippon Electric Glass Co., Ltd.		6,200		165,308
Nippon Express Co., Ltd.		5,900		329,177
Nippon Paint Holdings Co., Ltd.		9,500		374,765
Nippon Prologis REIT, Inc.		143		304,767
Nippon Steel & Sumitomo Metal Corp.		56,300		997,277
Nippon Telegraph & Telephone Corp.		47,000		2,000,371
Nippon Yusen KK		12,600		185,566
Nissan Chemical Corp.		10,000		459,682
Nissan Motor Co., Ltd.		166,900		1,373,999
Nisshin Seifun Group, Inc.		15,700		361,052
Nissin Foods Holdings Co., Ltd.		4,700		324,099
Nitori Holdings Co., Ltd.		5,800		751,516
Nitto Denko Corp.		12,600		665,142
Nomura Holdings, Inc.		241,200		866,205
Nomura Real Estate Holdings, Inc.		9,500		182,978
Nomura Real Estate Master Fund, Inc. (REIT)		322		475,179
Nomura Research Institute, Ltd.		6,900		315,024
NSK, Ltd.		26,600		250,350
NTT Data Corp.		40,780		451,147
NTT DoCoMo, Inc.		94,600		2,100,707
Obayashi Corp.		45,500		459,861
Obic Co., Ltd.		5,000		506,770
Odakyu Electric Railway Co., Ltd.		20,100		488,730
OJI Holdings Corp.		68,000		423,534
Olympus Corp.		91,200		992,990
Omron Corp.		13,400		631,207
Ono Pharmaceutical Co., Ltd.		26,100		513,897
Oracle Corp. Japan		3,000		202,051
Oriental Land Co., Ltd.		14,000		1,593,940
ORIX Corp.		92,600		1,334,703
Osaka Gas Co., Ltd.		29,000		573,870

BHFTII-185

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Japan—(Continued)
Otsuka Corp.		7,400	$	277,804
Otsuka Holdings Co., Ltd.		28,200		1,116,127
Pan Pacific International Holdings Corp.		8,200		544,339
Panasonic Corp.		161,300		1,397,580
Park24 Co., Ltd.		7,400		161,095
Persol Holdings Co., Ltd.		13,400		218,715
Pigeon Corp.		8,500		349,048
Pola Orbis Holdings, Inc.		7,600		243,272
Rakuten, Inc.		61,500		584,829
Recruit Holdings Co., Ltd.		80,900		2,321,735
Renesas Electronics Corp. (c)		61,100		284,918
Resona Holdings, Inc.		143,300		622,919
Ricoh Co., Ltd.		48,600		510,180
Rinnai Corp.		2,800		198,714
Rohm Co., Ltd.		6,700		420,628
Ryohin Keikaku Co., Ltd.		1,800		458,263
Santen Pharmaceutical Co., Ltd.		27,500		412,284
SBI Holdings, Inc.		16,511		370,221
Secom Co., Ltd.		15,500		1,331,349
Sega Sammy Holdings, Inc.		12,900		152,762
Seibu Holdings, Inc.		13,800		242,130
Seiko Epson Corp.		20,000		307,236
Sekisui Chemical Co., Ltd.		29,500		475,528
Sekisui House, Ltd.		45,500		755,020
Seven & i Holdings Co., Ltd.		55,000		2,078,170
SG Holdings Co., Ltd.		7,200		210,456
Sharp Corp. (c)		12,000		133,055
Shimadzu Corp.		14,600		424,702
Shimano, Inc.		5,400		881,650
Shimizu Corp.		39,000		340,367
Shin-Etsu Chemical Co., Ltd.		26,400		2,223,563
Shinsei Bank, Ltd.		12,900		183,712
Shionogi & Co., Ltd.		19,700		1,223,095
Shiseido Co., Ltd.		27,700		2,007,340
Shizuoka Bank, Ltd. (The)		25,800		197,055
Showa Denko KK		9,900		350,765
Showa Shell Sekiyu KK (c)		14,800		216,548
SMC Corp.		4,100		1,549,630
Softbank Corp. (c) (e)		121,800		1,375,627
SoftBank Group Corp.		60,500		5,904,410
Sohgo Security Services Co., Ltd.		4,800		209,740
Sompo Holdings, Inc.		23,599		873,065
Sony Corp.		91,800		3,868,873
Sony Financial Holdings, Inc.		12,800		241,543
Stanley Electric Co., Ltd.		9,700		262,061
Subaru Corp.		45,400		1,039,117
SUMCO Corp.		17,600		197,416
Sumitomo Chemical Co., Ltd.		117,000		546,888
Sumitomo Corp.		83,900		1,165,325
Sumitomo Dainippon Pharma Co., Ltd.		12,500		310,244
Sumitomo Electric Industries, Ltd.		57,634		768,119
Sumitomo Heavy Industries, Ltd.		7,800		254,100
Sumitomo Metal Mining Co., Ltd.		16,600		494,815
Sumitomo Mitsui Financial Group, Inc.		95,300		3,339,232
Sumitomo Mitsui Trust Holdings, Inc.		22,826		822,526
Sumitomo Realty & Development Co., Ltd.		26,000		1,080,274
Sumitomo Rubber Industries, Ltd.		12,500		150,532
Japan—(Continued)
Sundrug Co., Ltd.		6,000		165,964
Suntory Beverage & Food, Ltd.		10,400		489,206
Suzuken Co., Ltd.		5,800		336,578
Suzuki Motor Corp.		26,200		1,163,513
Sysmex Corp.		12,200		741,058
T&D Holdings, Inc.		39,400		415,921
Taiheiyo Cement Corp.		8,200		274,186
Taisei Corp.		16,000		745,387
Taisho Pharmaceutical Holdings Co., Ltd.		3,000		286,910
Takeda Pharmaceutical Co., Ltd.		108,148		4,431,939
TDK Corp.		9,500		748,080
Teijin, Ltd.		13,200		218,480
Terumo Corp.		44,200		1,354,424
THK Co., Ltd.		7,700		191,524
Tobu Railway Co., Ltd.		14,600		422,741
Toho Co., Ltd.		8,500		342,034
Toho Gas Co., Ltd.		6,200		278,885
Tohoku Electric Power Co., Inc.		28,000		357,917
Tokio Marine Holdings, Inc.		49,700		2,413,150
Tokyo Electric Power Co. Holdings, Inc. (c)		112,000		709,230
Tokyo Electron, Ltd.		11,300		1,640,648
Tokyo Gas Co., Ltd.		26,400		715,220
Tokyu Corp.		37,500		656,981
Tokyu Fudosan Holdings Corp.		37,000		222,110
Toppan Printing Co., Ltd.		20,500		310,460
Toray Industries, Inc.		108,500		695,795
Toshiba Corp.		47,500		1,515,828
Tosoh Corp.		23,000		359,243
TOTO, Ltd.		10,400		442,851
Toyo Seikan Group Holdings, Ltd.		8,300		170,986
Toyo Suisan Kaisha, Ltd.		6,000		229,073
Toyota Industries Corp.		10,100		508,542
Toyota Motor Corp.		166,300		9,767,182
Toyota Tsusho Corp.		15,500		506,482
Trend Micro, Inc.		8,900		434,914
Tsuruha Holdings, Inc.		2,900		236,772
Unicharm Corp.		29,600		982,365
United Urban Investment Corp. (REIT)		213		336,842
USS Co., Ltd.		16,600		309,278
West Japan Railway Co.		11,500		869,172
Yahoo Japan Corp.		206,700		507,617
Yakult Honsha Co., Ltd.		8,200		575,902
Yamada Denki Co., Ltd.		46,500		229,762
Yamaha Corp.		8,800		441,899
Yamaha Motor Co., Ltd.		18,700		368,748
Yamato Holdings Co., Ltd.		21,800		564,767
Yamazaki Baking Co., Ltd.		9,000		146,430
Yaskawa Electric Corp.		18,000		569,862
Yokogawa Electric Corp.		16,300		339,324
Yokohama Rubber Co., Ltd. (The)		9,200		171,771
ZOZO, Inc.		14,400		273,669
				237,660,896
Luxembourg—0.3%
ArcelorMittal		46,976		954,874
Eurofins Scientific SE (e)		878		364,139

BHFTII-186

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Luxembourg—(Continued)
Millicom International Cellular S.A.		5,384	$	327,316
RTL Group S.A.		2,700		147,660
SES S.A.		29,140		454,067
Tenaris S.A.		35,513		501,174
				2,749,230
Macau—0.1%
MGM China Holdings, Ltd.		70,400		147,657
Sands China, Ltd.		176,400		886,339
SJM Holdings, Ltd.		147,000		167,757
Wynn Macau, Ltd.		95,600		226,045
				1,427,798
Mexico—0.0%
Fresnillo plc		14,894		169,208
Netherlands—4.5%
ABN AMRO Group NV		29,995		677,886
Adyen NV (c)		753		591,230
Aegon NV		119,047		573,706
Akzo Nobel NV		16,277		1,445,168
ASML Holding NV		29,837		5,612,576
EXOR NV		8,104		526,955
Heineken Holding NV		7,836		786,581
Heineken NV		18,534		1,959,873
ING Groep NV		284,141		3,447,546
Koninklijke Ahold Delhaize NV		86,148		2,296,035
Koninklijke DSM NV		13,712		1,498,238
Koninklijke KPN NV		263,537		836,864
Koninklijke Philips NV		68,497		2,797,087
Koninklijke Vopak NV		3,942		189,016
NN Group NV		21,018		874,984
NXP Semiconductors NV		25,300		2,236,267
Randstad NV		9,402		459,771
Royal Dutch Shell plc - A Shares		327,994		10,311,069
Royal Dutch Shell plc - B Shares		271,764		8,594,287
Wolters Kluwer NV		21,135		1,441,796
				47,156,935
New Zealand—0.2%
a2 Milk Co., Ltd. (c)		53,251		520,761
Auckland International Airport, Ltd.		69,174		384,484
Fisher & Paykel Healthcare Corp., Ltd.		44,270		474,982
Fletcher Building, Ltd. (c)		68,594		231,535
Meridian Energy, Ltd.		93,292		266,578
Ryman Healthcare, Ltd.		29,900		249,889
Spark New Zealand, Ltd.		106,142		275,267
				2,403,496
Norway—0.7%
Aker BP ASA		7,864		280,721
DNB ASA		68,520		1,264,262
Equinor ASA		87,269		1,915,519
Gjensidige Forsikring ASA (e)		14,357		248,450
Mowi ASA (c)		30,284		677,650
Norway—(Continued)
Norsk Hydro ASA		91,188		371,409
Orkla ASA		62,161		477,924
Schibsted ASA - B Shares		7,443		267,117
Telenor ASA		51,893		1,040,933
Yara International ASA		14,337		587,936
				7,131,921
Portugal—0.2%
Banco Espirito Santo S.A. (a) (b) (c) (d)		199,038		0
EDP - Energias de Portugal S.A.		185,244		729,415
Galp Energia SGPS S.A.		37,002		592,995
Jeronimo Martins SGPS S.A.		18,255		269,658
				1,592,068
Singapore—1.3%
Ascendas Real Estate Investment Trust (REIT)		215,000		462,403
CapitaLand Commercial Trust (REIT)		166,738		239,138
CapitaLand Mall Trust (REIT)		157,500		276,932
CapitaLand, Ltd.		172,300		465,642
City Developments, Ltd.		34,000		227,514
ComfortDelGro Corp., Ltd.		153,000		290,963
DBS Group Holdings, Ltd.		131,667		2,454,928
Genting Singapore, Ltd.		418,200		321,735
Jardine Cycle & Carriage, Ltd.		8,888		213,626
Keppel Corp., Ltd.		113,900		525,254
Oversea-Chinese Banking Corp., Ltd.		230,564		1,884,357
SATS, Ltd.		56,300		212,834
Sembcorp Industries, Ltd.		73,200		138,529
Singapore Airlines, Ltd.		33,140		236,798
Singapore Exchange, Ltd.		54,400		294,081
Singapore Press Holdings, Ltd.		159,050		283,773
Singapore Technologies Engineering, Ltd.		130,000		359,622
Singapore Telecommunications, Ltd.		601,420		1,342,645
Suntec Real Estate Investment Trust (REIT)		179,000		257,957
United Overseas Bank, Ltd.		96,892		1,801,746
UOL Group, Ltd.		33,000		169,968
Venture Corp., Ltd.		20,500		272,812
Wilmar International, Ltd.		144,000		352,527
				13,085,784
South Africa—0.2%
Anglo American plc		76,685		2,059,901
Investec plc		52,596		304,155
				2,364,056
Spain—2.9%
ACS Actividades de Construccion y Servicios S.A.		19,877		874,659
Aena SME S.A.		5,006		902,571
Amadeus IT Group S.A.		31,507		2,527,579
Banco Bilbao Vizcaya Argentaria S.A.		485,964		2,781,715
Banco de Sabadell S.A.		385,331		384,521
Banco Santander S.A.		1,181,455		5,503,500
Bankia S.A.		80,824		209,847
Bankinter S.A.		48,939		373,210
CaixaBank S.A.		268,510		840,140

BHFTII-187

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Spain—(Continued)
Enagas S.A.		17,953	$	523,108
Endesa S.A.		23,384		597,231
Ferrovial S.A.		34,181		801,778
Grifols S.A.		21,632		606,557
Iberdrola S.A.		452,149		3,974,901
Industria de Diseno Textil S.A.		79,108		2,328,750
Mapfre S.A.		74,474		205,466
Naturgy Energy Group S.A.		25,426		712,043
Red Electrica Corp. S.A.		29,508		629,633
Repsol S.A.		101,970		1,746,842
Siemens Gamesa Renewable Energy S.A. (c)		18,682		298,027
Telefonica S.A.		338,883		2,844,023
				29,666,101
Sweden—2.3%
Alfa Laval AB		20,852		480,110
Assa Abloy AB - Class B		72,914		1,575,804
Atlas Copco AB - A Shares		49,888		1,344,186
Atlas Copco AB - B Shares		28,433		706,060
Boliden AB		20,002		569,309
Electrolux AB - Series B		17,118		440,141
Epiroc AB - Class A (c)		49,888		505,304
Epiroc AB - Class B (c)		28,433		273,003
Essity AB - Class B		43,954		1,271,717
Hennes & Mauritz AB - B Shares		61,284		1,024,357
Hexagon AB - B Shares		19,206		1,005,468
Husqvarna AB - B Shares		25,677		210,326
ICA Gruppen AB		5,619		225,899
Industrivarden AB - C Shares		10,214		214,578
Investor AB - B Shares		35,040		1,582,715
Kinnevik AB - Class B		16,046		416,697
L E Lundbergforetagen AB - B Shares		6,090		193,137
Lundin Petroleum AB		16,017		543,353
Sandvik AB		84,986		1,384,533
Securitas AB - B Shares		21,462		347,269
Skandinaviska Enskilda Banken AB - Class A (e)		113,560		985,837
Skanska AB - B Shares (e)		24,008		437,552
SKF AB - B Shares (e)		25,976		432,763
Svenska Handelsbanken AB - A Shares (e)		113,277		1,198,627
Swedbank AB - A Shares (e)		65,848		932,798
Swedish Match AB		14,499		740,118
Tele2 AB - B Shares		33,676		449,037
Telefonaktiebolaget LM Ericsson - B Shares (e)		220,757		2,030,188
Telia Co. AB		204,113		924,325
Volvo AB - B Shares		113,997		1,766,419
				24,211,630
Switzerland—9.1%
ABB, Ltd.		136,042		2,558,996
Adecco Group AG		10,992		586,974
Baloise Holding AG		3,839		634,791
Barry Callebaut AG		132		238,434
Chocoladefabriken Lindt & Spruengli AG		7		547,728
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		81		550,840
Cie Financiere Richemont S.A.		37,512		2,736,094
Clariant AG (c)		17,152		360,991
Switzerland—(Continued)
Coca-Cola HBC AG (c)		13,800		470,554
Credit Suisse Group AG (c)		186,061		2,171,696
Dufry AG (c)		2,729		287,036
EMS-Chemie Holding AG		579		314,345
Ferguson plc		17,515		1,118,312
Geberit AG		2,723		1,113,913
Givaudan S.A.		649		1,664,327
Glencore plc (c)		840,024		3,495,347
Julius Baer Group, Ltd. (c)		17,027		688,969
Kuehne & Nagel International AG		4,135		567,748
LafargeHolcim, Ltd. (c)		35,343		1,748,494
Lonza Group AG (c)		5,308		1,648,612
Nestle S.A.		222,716		21,252,113
Novartis AG		157,830		15,187,859
Pargesa Holding S.A.		3,025		237,149
Partners Group Holding AG		1,376		1,001,462
Roche Holding AG		50,970		14,048,251
Schindler Holding AG		1,428		295,728
Schindler Holding AG (Participation Certificate)		3,216		667,273
SGS S.A.		367		914,047
Sika AG		9,000		1,258,495
Sonova Holding AG		4,058		803,091
STMicroelectronics NV		49,712		736,439
Straumann Holding AG		747		610,723
Swatch Group AG (The)		4,374		242,378
Swatch Group AG (The) - Bearer Shares		2,245		643,413
Swiss Life Holding AG (c)		2,458		1,083,365
Swiss Prime Site AG (c)		5,000		438,210
Swiss Re AG		22,839		2,232,281
Swisscom AG (e)		1,853		906,505
Temenos AG (c)		4,384		647,242
UBS Group AG (c)		280,535		3,405,063
Vifor Pharma AG		3,820		516,919
Zurich Insurance Group AG		11,015		3,648,946
				94,281,153
United Arab Emirates—0.0%
NMC Health plc		7,569		225,556
United Kingdom—14.2%
3i Group plc		70,865		910,028
Admiral Group plc		16,009		453,617
Ashtead Group plc		37,846		914,725
Associated British Foods plc		27,546		876,748
AstraZeneca plc		91,643		7,322,739
Auto Trader Group plc		75,401		512,755
Aviva plc		288,445		1,555,059
BAE Systems plc		231,979		1,462,112
Barclays plc		1,244,471		2,515,613
Barratt Developments plc		69,622		544,820
Berkeley Group Holdings plc		10,289		494,936
BP plc		1,459,856		10,661,807
British American Tobacco plc		166,044		6,930,649
British Land Co. plc (The) (REIT)		73,348		563,191
BT Group plc		630,635		1,834,972
Bunzl plc		23,002		759,269

BHFTII-188

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
United Kingdom—(Continued)
Burberry Group plc		32,742	$	836,635
Centrica plc		412,821		614,669
CNH Industrial NV		78,026		796,476
Coca-Cola European Partners plc (c)		16,100		833,014
Compass Group plc		116,519		2,740,177
ConvaTec Group plc		91,978		169,782
Croda International plc		9,266		610,186
DCC plc		7,008		608,118
Diageo plc		178,216		7,292,741
Direct Line Insurance Group plc		89,919		413,808
easyJet plc		10,815		157,827
Experian plc		65,580		1,777,748
Fiat Chrysler Automobiles NV (c)		78,476		1,174,568
G4S plc		108,086		259,231
GlaxoSmithKline plc		360,925		7,491,257
GVC Holdings plc		39,400		287,279
Hammerson plc (REIT)		54,049		236,897
Hargreaves Lansdown plc		20,716		504,523
HSBC Holdings plc		1,456,681		11,868,859
Imperial Brands plc		70,611		2,420,587
Informa plc		91,052		883,304
InterContinental Hotels Group plc		11,622		701,019
Intertek Group plc		11,453		725,715
J Sainsbury plc		120,106		369,330
John Wood Group plc		51,100		338,160
Johnson Matthey plc		15,590		638,894
Kingfisher plc		151,460		463,801
Land Securities Group plc (REIT)		54,641		651,179
Legal & General Group plc		421,904		1,514,704
Lloyds Banking Group plc		5,220,354		4,236,600
London Stock Exchange Group plc		22,230		1,376,965
Marks & Spencer Group plc		137,472		500,037
Meggitt plc		55,862		366,434
Melrose Industries plc		351,107		839,420
Merlin Entertainments plc		52,353		234,374
Micro Focus International plc		33,650		871,751
Mondi plc		27,093		601,839
National Grid plc		249,620		2,777,031
Next plc		9,783		712,759
Pearson plc		63,486		692,133
Persimmon plc		22,805		646,549
Prudential plc		186,011		3,730,014
Reckitt Benckiser Group plc		48,931		4,079,186
RELX plc		143,278		3,069,951
Rio Tinto plc		84,969		4,945,882
Rolls-Royce Holdings plc (c)		123,608		1,460,666
Royal Bank of Scotland Group plc		355,393		1,146,954
Royal Mail plc		67,965		211,160
RSA Insurance Group plc		74,322		492,176
Sage Group plc (The)		77,930		712,666
Schroders plc		7,697		271,107
Segro plc (REIT)		74,212		651,426
Severn Trent plc		20,415		526,378
Smith & Nephew plc		62,049		1,231,493
Smiths Group plc		31,976		598,646
Security Description	Shares/ Principal Amount*		Value
United Kingdom—(Continued)
SSE plc		72,948		1,130,852
St. James’s Place plc		38,927		523,204
Standard Chartered plc		203,987		1,577,628
Standard Life Aberdeen plc		163,097		561,276
Taylor Wimpey plc		240,026		550,118
Tesco plc		690,838		2,090,821
Unilever NV		112,339		6,535,870
Unilever plc		82,237		4,718,787
United Utilities Group plc		57,234		608,453
Vodafone Group plc		1,935,083		3,527,377
Weir Group plc (The)		17,104		348,871
Whitbread plc		14,502		961,673
WM Morrison Supermarkets plc		166,578		494,207
WPP plc		93,040		986,348
				147,292,610
United States—0.1%
Carnival plc		13,029		639,970
QIAGEN NV (c)		15,166		615,806
				1,255,776
Total Common Stocks (Cost $863,763,199)				988,348,418
Mutual Fund—2.4%
United States—2.4%
iShares MSCI EAFE ETF (f) (Cost $24,289,264)		383,000		24,841,380
Preferred Stocks—0.5%
Germany—0.5%
Bayerische Motoren Werke (BMW) AG		3,581		235,617
FUCHS Petrolub SE		4,900		201,873
Henkel AG & Co. KGaA		12,893		1,317,061
Porsche Automobil Holding SE		11,105		697,591
Sartorius AG		2,589		444,485
Volkswagen AG		13,371		2,106,548
Total Preferred Stocks (Cost $4,249,327)				5,003,175
Short-Term Investments—0.9%
Discount Notes—0.6%
Federal Home Loan Bank
Zero Coupon, 04/01/19		1,825,000		1,825,000
2.155%, 04/09/19 (g)		125,000		124,933
2.273%, 04/15/19 (g)		1,075,000		1,073,988
2.370%, 05/03/19 (g)		250,000		249,462
2.415%, 05/22/19 (g)		2,700,000		2,690,744
2.427%, 05/24/19 (g)		625,000		622,773
				6,586,900

BHFTII-189

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
U.S. Treasury—0.3%
U.S. Treasury Bills 2.182%, 04/09/19 (g)		1,025,000	$	1,024,456
2.318%, 04/18/19 (g)		975,000		973,898
2.374%, 05/16/19 (g)		1,100,000		1,096,738
				3,095,092
Total Short-Term Investments (Cost $9,681,958)				9,681,992
Securities Lending Reinvestments (h)—2.1%
Certificate of Deposit—0.1%
Natixis New York 2.910%, SOFR + 0.480%, 06/12/19 (i)		1,000,000		1,000,000
Commercial Paper—0.1%
Matchpoint Finance plc 2.450%, 04/01/19		999,796		999,781
Repurchase Agreements—1.3%
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $700,142; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $714,000.		700,000		700,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $600,140; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $612,000.		600,000		600,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $600,125; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $612,000.		600,000		600,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $1,000,229; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,910,412; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,948,211.		1,910,011		1,910,011
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $806,339; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $857,085.		800,000		800,000
Repurchase Agreements—(Continued)
Nomura Securities International, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $3,500,744; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 3.875%, maturity dates ranging from 04/11/19 - 11/15/48, and an aggregate market value of $3,570,000.		3,500,000		3,500,000
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $2,771,723; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,002,945.		2,700,000		2,700,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $1,539,323; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,668,303.		1,500,000		1,500,000
				13,310,011
Time Deposits—0.6%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		1,000,000		1,000,000
DZ Bank AG New York 2.430%, 04/01/19		1,000,000		1,000,000
Nordea Bank New York 2.350%, 04/01/19		1,000,000		1,000,000
Skandi New York 2.380%, 04/01/19		1,000,000		1,000,000
Svenska, New York 2.360%, 04/01/19		1,000,000		1,000,000
				6,000,000
Total Securities Lending Reinvestments (Cost $21,310,010)				21,309,792
Total Investments—101.0% (Cost $923,293,758)				1,049,184,757
Other assets and liabilities (net)—(1.0)%				(10,537,971	)
Net Assets—100.0%			$	1,038,646,786

*	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 March 31, 2019, these securities represent less than 0.05% of net assets.
(b)	Illiquid security. As of March 31, 2019, these securities represent 0.0% of net assets.
(c)	Non-income producing security.
(d)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.

BHFTII-190

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(e)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $21,186,868 and the collateral received consisted of cash in the amount of $21,309,806 and non-cash collateral with a value of $1,333,563. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio.
(f)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2019, the market value of securities pledged was $2,594,400.
(g)	The rate shown represents current yield to maturity.
(h)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(i)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Ten Largest Industries as of March 31, 2019 (Unaudited)	% of Net Assets
Banks		9.7
Pharmaceuticals		8.0
Oil, Gas & Consumable Fuels		5.5
Insurance		5.4
Food Products		3.3
Chemicals		3.2
Automobiles		3.1
Metals & Mining		3.0
Machinery		2.4
Beverages		2.4

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation
MSCI EAFE Index Mini Futures		06/21/19		140		USD	13,064,800	$	154,409

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(SOFR)— Secured Overnight Financing Rate

Other Abbreviations

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

BHFTII-191

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	72,175,567		$	0	$	72,175,567
Austria		—		2,419,546			—		2,419,546
Belgium		—		10,057,824			—		10,057,824
Chile		—		341,202			—		341,202
China		316,800		1,436,861			—		1,753,661
Denmark		—		17,871,596			—		17,871,596
Finland		—		11,916,926			—		11,916,926
France		1,628,954		107,728,368			—		109,357,322
Germany		—		79,650,402			—		79,650,402
Hong Kong		447,282		37,443,434			—		37,890,716
Ireland		474,708		5,854,564			—		6,329,272
Israel		2,666,148		2,773,102			—		5,439,250
Italy		—		20,470,916			—		20,470,916
Japan		—		237,660,896			—		237,660,896
Luxembourg		—		2,749,230			—		2,749,230
Macau		—		1,427,798			—		1,427,798
Mexico		—		169,208			—		169,208
Netherlands		2,236,267		44,920,668			—		47,156,935
New Zealand		—		2,403,496			—		2,403,496
Norway		—		7,131,921			—		7,131,921
Portugal		—		1,592,068			0		1,592,068
Singapore		—		13,085,784			—		13,085,784
South Africa		—		2,364,056			—		2,364,056
Spain		—		29,666,101			—		29,666,101
Sweden		—		24,211,630			—		24,211,630
Switzerland		—		94,281,153			—		94,281,153
United Arab Emirates		—		225,556			—		225,556
United Kingdom		833,014		146,459,596			—		147,292,610
United States		—		1,255,776			—		1,255,776
Total Common Stocks		8,603,173		979,745,245			0		988,348,418
Total Mutual Fund*		24,841,380		—			—		24,841,380
Total Preferred Stocks*		—		5,003,175			—		5,003,175
Total Short-Term Investments*		—		9,681,992			—		9,681,992
Total Securities Lending Reinvestments*		—		21,309,792			—		21,309,792
Total Investments	$	33,444,553	$	1,015,740,204		$	0	$	1,049,184,757
Collateral for Securities Loaned (Liability)	$	—	$	(21,309,806	)	$	—	$	(21,309,806	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	154,409	$	—		$	—	$	154,409

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

BHFTII-192

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—96.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.0%
AAR Corp.		13,862	$	450,654
Aerojet Rocketdyne Holdings, Inc. (a) (b)		31,677		1,125,484
Aerovironment, Inc. (a)		8,967		613,432
Astronics Corp. (a)		10,382		339,699
Axon Enterprise, Inc. (a)		25,220		1,372,220
Cubic Corp.		13,660		768,238
Ducommun, Inc. (a)		3,708		161,372
KEYW Holding Corp. (The) (a) (b)		23,342		201,208
Kratos Defense & Security Solutions, Inc. (a)		39,769		621,589
Maxar Technologies, Inc. (a) (b)		25,232		101,433
Mercury Systems, Inc. (a) (b)		19,716		1,263,401
Moog, Inc. - Class A		14,345		1,247,298
National Presto Industries, Inc.		2,572		279,191
Triumph Group, Inc. (b)		19,302		367,896
Vectrus, Inc. (a)		5,647		150,154
Wesco Aircraft Holdings, Inc. (a)		26,069		229,147
				9,292,416
Air Freight & Logistics—0.3%
Air Transport Services Group, Inc. (a)		27,538		634,751
Atlas Air Worldwide Holdings, Inc. (a)		10,224		516,925
Echo Global Logistics, Inc. (a)		13,053		323,453
Forward Air Corp.		12,974		839,807
HUB Group, Inc. - Class A (a)		15,117		617,530
Radiant Logistics, Inc. (a)		18,863		118,837
				3,051,303
Airlines—0.5%
Allegiant Travel Co.		5,919		766,333
Hawaiian Holdings, Inc. (b)		22,400		588,000
SkyWest, Inc.		22,461		1,219,408
Spirit Airlines, Inc. (a)		29,877		1,579,298
				4,153,039
Auto Components—0.9%
American Axle & Manufacturing Holdings, Inc. (a)		51,196		732,615
Cooper Tire & Rubber Co. (b)		22,320		667,145
Cooper-Standard Holdings, Inc. (a)		7,342		344,780
Dana, Inc.		65,547		1,162,804
Dorman Products, Inc. (a) (b)		11,341		999,029
Fox Factory Holding Corp. (a)		15,112		1,056,178
Gentherm, Inc. (a)		15,174		559,313
LCI Industries		10,785		828,504
Modine Manufacturing Co. (a)		23,187		321,604
Motorcar Parts of America, Inc. (a) (b)		8,000		150,960
Standard Motor Products, Inc.		9,638		473,226
Stoneridge, Inc. (a)		13,705		395,526
Tenneco, Inc. - Class A		22,605		500,927
Tower International, Inc.		10,455		219,868
				8,412,479
Automobiles—0.1%
Winnebago Industries, Inc.		14,967		466,222
Banks—8.5%
1st Source Corp.		7,645		343,337
ACNB Corp.		3,451		127,687
Allegiance Bancshares, Inc. (a)		5,825		196,419
American National Bankshares, Inc.		4,311		150,540
Ameris Bancorp		18,334		629,773
Ames National Corp.		4,321		118,439
Arrow Financial Corp.		6,358		209,115
Atlantic Capital Bancshares, Inc. (a)		10,440		186,145
Banc of California, Inc.		18,620		257,701
BancFirst Corp.		8,433		439,781
Bancorp, Inc. (The) (a)		25,747		208,036
BancorpSouth Bank (b)		40,565		1,144,744
Bank of Marin Bancorp		6,398		260,335
Bank of NT Butterfield & Son, Ltd. (The)		23,242		833,923
Banner Corp.		14,787		801,012
Bar Harbor Bankshares		7,342		189,938
Baycom Corp. (a)		5,323		120,513
Berkshire Hills Bancorp, Inc. (b)		18,786		511,731
Blue Hills Bancorp, Inc.		9,156		218,828
Boston Private Financial Holdings, Inc.		40,232		440,943
Bridge Bancorp, Inc.		8,870		259,891
Brookline Bancorp, Inc.		36,642		527,645
Bryn Mawr Bank Corp.		9,382		338,972
Business First Bancshares, Inc.		5,338		130,995
Byline Bancorp, Inc. (a)		8,170		150,982
Cadence BanCorp		52,973		982,649
Cambridge Bancorp		1,469		121,707
Camden National Corp.		7,839		327,043
Capital City Bank Group, Inc.		5,769		125,649
Carolina Financial Corp.		8,963		310,030
Cathay General Bancorp (b)		34,405		1,166,674
CBTX, Inc.		8,948		290,542
CenterState Bank Corp.		38,953		927,471
Central Pacific Financial Corp.		11,636		335,582
Central Valley Community Bancorp		5,828		113,937
Chemical Financial Corp.		30,603		1,259,619
Citizens & Northern Corp.		6,716		168,169
City Holding Co. (b)		7,242		551,768
Civista Bancshares, Inc.		6,893		150,474
CNB Financial Corp.		6,782		171,381
Columbia Banking System, Inc.		32,810		1,072,559
Community Bank System, Inc. (b)		22,304		1,333,110
Community Trust Bancorp, Inc.		7,150		293,579
ConnectOne Bancorp, Inc.		13,860		273,042
Customers Bancorp, Inc. (a)		13,560		248,284
CVB Financial Corp.		49,490		1,041,764
Eagle Bancorp, Inc. (a)		13,255		665,401
Enterprise Bancorp, Inc.		4,064		116,759
Enterprise Financial Services Corp.		10,782		439,582
Equity Bancshares, Inc. - Class A (a)		5,404		155,635
Farmers & Merchants Bancorp, Inc.		4,006		120,581
Farmers National Banc Corp.		13,414		184,979
FB Financial Corp.		6,411		203,613
Fidelity Southern Corp.		10,827		296,552
Financial Institutions, Inc.		6,461		175,610
First BanCorp		94,227		1,079,841
First Bancorp		12,826		445,832

BHFTII-193

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Banks—(Continued)
First Bancorp, Inc.		5,308	$	132,275
First Bancshares, Inc. (The)		6,100		188,490
First Busey Corp.		20,300		495,320
First Commonwealth Financial Corp.		45,936		578,794
First Community Bancshares, Inc.		8,470		280,696
First Financial Bancorp		41,209		991,489
First Financial Bankshares, Inc.		27,909		1,612,582
First Financial Corp.		5,203		218,526
First Foundation, Inc.		17,720		240,460
First Interstate BancSystem, Inc. - Class A		15,279		608,410
First Merchants Corp.		24,818		914,543
First Mid-Illinois Bancshares, Inc.		5,809		193,556
First Midwest Bancorp, Inc.		46,471		950,797
First of Long Island Corp. (The)		9,924		217,633
Flushing Financial Corp.		13,422		294,344
Franklin Financial Network, Inc.		4,922		142,787
Fulton Financial Corp. (b)		70,401		1,089,807
German American Bancorp, Inc.		10,138		298,057
Glacier Bancorp, Inc.		36,365		1,457,146
Great Southern Bancorp, Inc.		4,991		259,033
Great Western Bancorp, Inc.		26,273		829,964
Guaranty Bancshares, Inc.		3,924		114,659
Hancock Whitney Corp.		36,710		1,483,084
Hanmi Financial Corp. (b)		15,681		333,535
HarborOne Bancorp, Inc. (a)		7,489		128,811
Heartland Financial USA, Inc.		13,588		579,528
Heritage Commerce Corp.		17,854		216,033
Heritage Financial Corp.		15,777		475,519
Hilltop Holdings, Inc.		28,924		527,863
Home BancShares, Inc. (b)		68,087		1,196,289
HomeTrust Bancshares, Inc.		8,531		214,981
Hope Bancorp, Inc.		53,525		700,107
Horizon Bancorp		17,556		282,476
Iberiabank Corp.		24,314		1,743,557
Independent Bank Corp.		11,863		255,054
Independent Bank Corp./Rockland Trust		12,147		984,028
Independent Bank Group, Inc.		14,947		766,632
International Bancshares Corp.		23,225		883,247
Investors Bancorp, Inc.		105,579		1,251,111
Lakeland Bancorp, Inc.		19,901		297,122
Lakeland Financial Corp.		11,384		514,784
LegacyTexas Financial Group, Inc. (b)		21,060		787,433
Live Oak Bancshares, Inc. (b)		10,534		153,902
Macatawa Bank Corp.		14,416		143,295
Mercantile Bank Corp.		8,647		282,930
Metropolitan Bank Holding Corp. (a)		3,277		114,007
Midland States Bancorp, Inc.		10,034		241,418
MidWestOne Financial Group, Inc.		5,585		152,191
National Bank Holdings Corp. - Class A		12,889		428,688
National Bankshares, Inc.		3,487		149,418
National Commerce Corp. (a)		7,109		278,744
NBT Bancorp, Inc. (b)		17,543		631,723
Nicolet Bankshares, Inc. (a)		4,410		262,836
Northrim BanCorp, Inc.		3,529		121,468
OFG Bancorp		19,884		393,504
Old Line Bancshares, Inc.		7,597		189,393
Old National Bancorp		63,652		1,043,893
Banks—(Continued)
Old Second Bancorp, Inc.		14,296		179,987
Opus Bank		8,631		170,894
Origin Bancorp, Inc.		6,937		236,205
Pacific Premier Bancorp, Inc.		21,020		557,661
Park National Corp.		5,741		543,960
Peapack Gladstone Financial Corp.		8,311		217,914
People’s Utah Bancorp		7,011		184,880
Peoples Bancorp, Inc.		8,443		261,480
Peoples Financial Services Corp.		3,673		166,166
Preferred Bank		6,573		295,588
QCR Holdings, Inc.		5,811		197,109
RBB Bancorp		6,720		126,336
Reliant Bancorp, Inc.		5,179		115,595
Renasant Corp.		22,158		750,048
Republic Bancorp, Inc. - Class A		5,421		242,427
Republic First Bancorp, Inc. (a)		22,031		115,663
S&T Bancorp, Inc. (b)		15,660		619,040
Sandy Spring Bancorp, Inc.		16,080		502,982
Seacoast Banking Corp. of Florida (a)		21,315		561,650
ServisFirst Bancshares, Inc. (b)		20,928		706,529
Sierra Bancorp		5,841		141,936
Simmons First National Corp. - Class A		41,478		1,015,381
SmartFinancial, Inc. (a)		5,821		110,075
South State Corp.		15,302		1,045,739
Southern First Bancshares, Inc. (a)		3,419		115,802
Southern National Bancorp of Virginia, Inc.		10,799		158,205
Southside Bancshares, Inc. (b)		15,530		516,062
Stock Yards Bancorp, Inc.		10,633		359,502
Summit Financial Group, Inc.		5,705		151,240
Tompkins Financial Corp.		6,912		525,796
Towne Bank		30,317		750,346
TriCo Bancshares		11,734		461,029
TriState Capital Holdings, Inc. (a)		11,422		233,351
Triumph Bancorp, Inc. (a)		11,267		331,137
Trustmark Corp. (b)		28,210		948,702
UMB Financial Corp. (b)		19,210		1,230,208
Union Bankshares Corp. (b)		32,590		1,053,635
United Bankshares, Inc. (b)		43,338		1,570,569
United Community Banks, Inc.		34,521		860,609
Univest Corp. of Pennsylvania		12,133		296,773
Valley National Bancorp (b)		137,865		1,320,747
Veritex Holdings, Inc.		19,976		483,819
Washington Trust Bancorp, Inc. (b)		5,960		286,974
WesBanco, Inc.		23,770		944,857
West Bancorp, Inc.		8,036		166,184
Westamerica Bancorp (b)		11,738		725,408
				76,821,015
Beverages—0.3%
Boston Beer Co., Inc. (The) - Class A (a)		3,688		1,086,964
Coca-Cola Bottling Co. Consolidated		1,932		556,088
MGP Ingredients, Inc. (b)		6,119		472,081
National Beverage Corp. (b)		4,782		276,065
Primo Water Corp. (a)		15,449		238,841
				2,630,039

BHFTII-194

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Biotechnology—6.4%
Abeona Therapeutics, Inc. (a)		12,572	$	92,530
ACADIA Pharmaceuticals, Inc. (a) (b)		49,671		1,333,666
Acceleron Pharma, Inc. (a)		19,308		899,174
Achillion Pharmaceuticals, Inc. (a)		67,562		199,984
Acorda Therapeutics, Inc. (a) (b)		20,455		271,847
Aduro Biotech, Inc. (a)		34,465		137,171
Adverum Biotechnologies, Inc. (a)		28,557		149,639
Agenus, Inc. (a) (b)		46,040		136,739
Aimmune Therapeutics, Inc. (a) (b)		20,346		454,733
Akebia Therapeutics, Inc. (a) (b)		40,608		332,580
Albireo Pharma, Inc. (a)		4,713		151,806
Alder Biopharmaceuticals, Inc. (a) (b)		25,046		341,878
Allakos, Inc. (a) (b)		6,818		276,129
Allogene Therapeutics, Inc. (a) (b)		12,636		365,307
AMAG Pharmaceuticals, Inc. (a) (b)		16,034		206,518
Amicus Therapeutics, Inc. (a)		85,724		1,165,846
AnaptysBio, Inc. (a)		9,482		692,660
Apellis Pharmaceuticals, Inc. (a)		17,298		337,311
Arcus Biosciences, Inc. (a)		15,645		195,406
Arena Pharmaceuticals, Inc. (a)		22,490		1,008,227
Arqule, Inc. (a)		43,816		209,879
Array BioPharma, Inc. (a) (b)		91,194		2,223,310
Arrowhead Pharmaceuticals, Inc. (a) (b)		40,960		751,616
Assembly Biosciences, Inc. (a)		9,765		192,273
Atara Biotherapeutics, Inc. (a)		18,837		748,771
Athenex, Inc. (a) (b)		20,171		247,095
Audentes Therapeutics, Inc. (a) (b)		17,143		668,920
BioCryst Pharmaceuticals, Inc. (a) (b)		50,588		411,786
Biohaven Pharmaceutical Holding Co., Ltd. (a)		13,968		718,933
BioSpecifics Technologies Corp. (a)		3,035		189,172
Blueprint Medicines Corp. (a) (b)		17,806		1,425,370
Cara Therapeutics, Inc. (a) (b)		15,682		307,681
CareDx, Inc. (a)		16,080		506,842
Catalyst Pharmaceuticals, Inc. (a) (b)		49,243		251,139
ChemoCentryx, Inc. (a)		12,392		172,125
Clovis Oncology, Inc. (a) (b)		21,967		545,221
Coherus Biosciences, Inc. (a) (b)		22,472		306,518
Concert Pharmaceuticals, Inc. (a)		8,973		108,304
Corbus Pharmaceuticals Holdings, Inc. (a) (b)		23,089		160,469
Cytokinetics, Inc. (a)		18,716		151,412
CytomX Therapeutics, Inc. (a)		18,290		196,617
Denali Therapeutics, Inc. (a) (b)		20,915		485,646
Dicerna Pharmaceuticals, Inc. (a)		21,711		318,066
Dynavax Technologies Corp. (a) (b)		28,690		209,724
Eagle Pharmaceuticals, Inc. (a)		4,988		251,844
Editas Medicine, Inc. (a) (b)		21,164		517,460
Eidos Therapeutics, Inc. (a) (b)		8,453		198,223
Emergent BioSolutions, Inc. (a) (b)		20,011		1,010,956
Enanta Pharmaceuticals, Inc. (a) (b)		7,598		725,761
Epizyme, Inc. (a)		25,075		310,679
Esperion Therapeutics, Inc. (a) (b)		10,901		437,675
Fate Therapeutics, Inc. (a)		27,883		489,904
FibroGen, Inc. (a)		33,355		1,812,844
Five Prime Therapeutics, Inc. (a) (b)		19,957		267,424
Flexion Therapeutics, Inc. (a)		15,518		193,665
Forty Seven, Inc. (a)		7,572		122,364
G1 Therapeutics, Inc. (a)		9,655		160,273
Biotechnology—(Continued)
Genomic Health, Inc. (a)		8,834		618,822
Geron Corp. (a) (b)		90,242		149,802
Global Blood Therapeutics, Inc. (a) (b)		23,097		1,222,524
GlycoMimetics, Inc. (a)		16,635		207,272
Halozyme Therapeutics, Inc. (a)		55,733		897,301
Heron Therapeutics, Inc. (a) (b)		29,366		717,705
Homology Medicines, Inc. (a) (b)		8,430		233,764
ImmunoGen, Inc. (a)		59,746		161,912
Immunomedics, Inc. (a) (b)		65,050		1,249,610
Inovio Pharmaceuticals, Inc. (a) (b)		36,297		135,388
Insmed, Inc. (a) (b)		33,233		966,083
Intellia Therapeutics, Inc. (a) (b)		15,741		268,856
Intercept Pharmaceuticals, Inc. (a)		9,678		1,082,581
Intrexon Corp. (a) (b)		32,766		172,349
Invitae Corp. (a)		31,538		738,620
Iovance Biotherapeutics, Inc. (a) (b)		48,312		459,447
Ironwood Pharmaceuticals, Inc. (a) (b)		63,682		861,617
Kadmon Holdings, Inc. (a) (b)		50,200		132,528
Kezar Life Sciences, Inc. (a) (b)		6,942		123,151
Kindred Biosciences, Inc. (a)		13,711		125,730
Kura Oncology, Inc. (a)		13,652		226,487
Lexicon Pharmaceuticals, Inc. (a) (b)		23,843		132,567
Ligand Pharmaceuticals, Inc. (a) (b)		9,331		1,173,000
MacroGenics, Inc. (a)		18,661		335,525
Madrigal Pharmaceuticals, Inc. (a) (b)		3,123		391,187
MannKind Corp. (a)		82,486		162,497
MediciNova, Inc. (a) (b)		18,638		154,323
MeiraGTx Holdings plc (a)		6,528		112,477
Minerva Neurosciences, Inc. (a)		16,304		128,149
Mirati Therapeutics, Inc. (a) (b)		9,577		701,994
Momenta Pharmaceuticals, Inc. (a)		43,796		636,356
Myriad Genetics, Inc. (a) (b)		29,763		988,132
Natera, Inc. (a)		13,813		284,824
Opko Health, Inc. (a) (b)		146,687		382,853
PDL BioPharma, Inc. (a)		76,001		282,724
Portola Pharmaceuticals, Inc. (a) (b)		29,932		1,038,640
Progenics Pharmaceuticals, Inc. (a)		32,263		149,700
Prothena Corp. plc (a)		18,324		222,270
PTC Therapeutics, Inc. (a)		22,877		861,090
Puma Biotechnology, Inc. (a) (b)		13,791		534,953
Ra Pharmaceuticals, Inc. (a)		7,515		168,336
Radius Health, Inc. (a)		17,562		350,186
REGENXBIO, Inc. (a) (b)		14,093		807,670
Repligen Corp. (a) (b)		17,598		1,039,690
Retrophin, Inc. (a)		18,842		426,394
Rhythm Pharmaceuticals, Inc. (a) (b)		6,192		169,723
Rigel Pharmaceuticals, Inc. (a)		68,148		175,140
Rocket Pharmaceuticals, Inc. (a) (b)		10,482		183,854
Rubius Therapeutics, Inc. (a) (b)		16,410		297,021
Sangamo Therapeutics, Inc. (a) (b)		47,157		449,878
Savara, Inc. (a)		15,700		115,709
Scholar Rock Holding Corp. (a)		7,968		149,719
Sorrento Therapeutics, Inc. (a) (b)		42,779		203,200
Spark Therapeutics, Inc. (a)		14,454		1,646,022
Spectrum Pharmaceuticals, Inc. (a)		45,835		489,976
Stemline Therapeutics, Inc. (a)		18,471		237,352
TG Therapeutics, Inc. (a) (b)		28,284		227,403

BHFTII-195

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Biotechnology—(Continued)
Translate Bio, Inc. (a)		16,186	$	164,935
Tyme Technologies, Inc. (a) (b)		51,546		90,721
Ultragenyx Pharmaceutical, Inc. (a) (b)		22,296		1,546,451
Vanda Pharmaceuticals, Inc. (a)		24,336		447,782
Veracyte, Inc. (a)		14,557		364,216
Vericel Corp. (a) (b)		18,632		326,246
Viking Therapeutics, Inc. (a) (b)		28,602		284,304
Voyager Therapeutics, Inc. (a)		10,649		203,822
Xencor, Inc. (a)		21,420		665,305
ZIOPHARM Oncology, Inc. (a) (b)		64,378		247,855
				57,658,832
Building Products—1.2%
AAON, Inc. (b)		16,747		773,377
Advanced Drainage Systems, Inc.		16,264		419,123
American Woodmark Corp. (a)		6,699		553,538
Apogee Enterprises, Inc.		11,475		430,198
Armstrong Flooring, Inc. (a)		11,681		158,862
Builders FirstSource, Inc. (a)		50,475		673,337
Caesarstone, Ltd. (b)		11,687		182,434
Continental Building Products, Inc. (a)		17,313		429,189
CSW Industrials, Inc. (a)		7,377		422,628
Gibraltar Industries, Inc. (a)		14,856		603,302
Griffon Corp. (b)		14,438		266,814
Insteel Industries, Inc.		9,004		188,364
JELD-WEN Holding, Inc. (a)		31,537		556,943
Masonite International Corp. (a)		12,167		607,012
NCI Building Systems, Inc. (a)		19,586		120,650
Patrick Industries, Inc. (a)		10,680		484,018
PGT Innovations, Inc. (a)		22,494		311,542
Quanex Building Products Corp.		17,697		281,205
Simpson Manufacturing Co., Inc. (b)		17,526		1,038,766
Trex Co., Inc. (a) (b)		25,565		1,572,759
Universal Forest Products, Inc.		25,733		769,159
				10,843,220
Capital Markets—1.2%
Arlington Asset Investment Corp. - Class A (b)		10,056		80,046
Artisan Partners Asset Management, Inc. - Class A		21,101		531,112
B. Riley Financial, Inc. (b)		10,620		177,248
Blucora, Inc. (a)		20,338		678,882
BrightSphere Investment Group plc		35,717		484,323
Cohen & Steers, Inc. (b)		9,693		409,723
Cowen Group, Inc. (a) (b)		13,196		191,210
Diamond Hill Investment Group, Inc.		1,546		216,440
Donnelley Financial Solutions, Inc. (a)		16,100		239,568
Federated Investors, Inc. - Class B (b)		41,142		1,205,872
Focus Financial Partners, Inc. - Class A (a)		11,818		421,194
Greenhill & Co., Inc.		10,011		215,337
Hamilton Lane, Inc. - Class A		7,658		333,736
Houlihan Lokey, Inc.		15,059		690,455
International FCStone, Inc. (a)		7,668		297,212
Ladenburg Thalmann Financial Services, Inc.		50,140		141,896
Moelis & Co. - Class A		20,136		837,859
Oppenheimer Holdings, Inc. - Class A		4,998		130,048
Piper Jaffray Cos.		7,063		514,398
Capital Markets—(Continued)
PJT Partners, Inc. - Class A		9,330		389,994
Stifel Financial Corp.		29,695		1,566,708
Virtus Investment Partners, Inc.		3,239		315,964
Waddell & Reed Financial, Inc. - Class A (b)		33,654		581,878
Westwood Holdings Group, Inc.		3,235		114,098
WisdomTree Investments, Inc.		53,688		379,037
				11,144,238
Chemicals—1.9%
AdvanSix, Inc. (a)		14,472		413,465
American Vanguard Corp.		14,887		256,354
Balchem Corp.		13,712		1,272,474
Chase Corp.		3,533		326,944
Ferro Corp. (a) (b)		33,662		637,222
FutureFuel Corp.		10,195		136,613
GCP Applied Technologies, Inc. (a) (b)		31,401		929,470
Hawkins, Inc.		4,778		175,974
HB Fuller Co.		21,308		1,036,421
Ingevity Corp. (a)		18,263		1,928,755
Innophos Holdings, Inc.		9,207		277,499
Innospec, Inc.		10,583		882,093
Intrepid Potash, Inc. (a)		46,261		175,329
Koppers Holdings, Inc. (a)		10,265		266,685
Kraton Corp. (a)		14,021		451,196
Kronos Worldwide, Inc.		11,199		157,010
Livent Corp. (a)		63,109		774,978
Minerals Technologies, Inc.		15,449		908,247
OMNOVA Solutions, Inc. (a)		21,500		150,930
PolyOne Corp.		34,248		1,003,809
PQ Group Holdings, Inc. (a)		14,392		218,327
Quaker Chemical Corp.		5,838		1,169,526
Rayonier Advanced Materials, Inc. (b)		22,944		311,121
Sensient Technologies Corp.		18,001		1,220,288
Stepan Co.		9,222		807,109
Tredegar Corp. (b)		13,367		215,743
Trinseo S.A.		17,985		814,720
Tronox Holding Plc - Class A (a)		43,198		568,054
				17,486,356
Commercial Services & Supplies—2.4%
ABM Industries, Inc.		27,637		1,004,605
ACCO Brands Corp.		48,975		419,226
Advanced Disposal Services, Inc. (a)		29,696		831,488
Brady Corp. - Class A		21,723		1,008,164
BrightView Holdings, Inc. (a)		13,796		198,662
Brink’s Co. (The)		21,381		1,612,341
Casella Waste Systems, Inc. - Class A (a)		19,066		677,987
Ceco Environmental Corp. (a)		14,832		106,790
Cimpress NV (a)		9,290		744,408
Covanta Holding Corp.		53,904		933,078
Deluxe Corp.		19,398		848,081
Ennis, Inc.		9,635		200,023
Healthcare Services Group, Inc. (b)		32,315		1,066,072
Heritage-Crystal Clean, Inc. (a)		7,474		205,161
Herman Miller, Inc.		24,553		863,775
HNI Corp.		18,317		664,724

BHFTII-196

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Commercial Services & Supplies—(Continued)
Interface, Inc.		27,071	$	414,728
Kimball International, Inc. - Class B		16,738		236,675
Knoll, Inc.		18,950		358,344
LSC Communications, Inc.		16,124		105,290
Matthews International Corp. - Class A		14,349		530,196
McGrath RentCorp		10,515		594,834
Mobile Mini, Inc.		20,245		687,115
MSA Safety, Inc.		14,519		1,501,265
Multi-Color Corp.		6,168		307,722
Pitney Bowes, Inc. (b)		83,241		571,866
Quad/Graphics, Inc.		13,076		155,604
RR Donnelley & Sons Co.		33,165		156,539
SP Plus Corp. (a)		10,567		360,546
Steelcase, Inc. - Class A		39,276		571,466
Team, Inc. (a) (b)		14,183		248,202
Tetra Tech, Inc. (c)		24,133		1,438,085
U.S. Ecology, Inc.		10,067		563,551
UniFirst Corp.		6,349		974,571
Viad Corp.		8,932		502,782
VSE Corp.		4,190		132,320
				21,796,286
Communications Equipment—1.6%
Acacia Communications, Inc. (a)		10,960		628,556
ADTRAN, Inc. (b)		24,190		331,403
Applied Optoelectronics, Inc. (a) (b)		8,622		105,188
CalAmp Corp. (a)		14,239		179,127
Calix, Inc. (a)		21,486		165,442
Casa Systems, Inc. (a)		12,603		104,605
Ciena Corp. (a)		61,746		2,305,596
Comtech Telecommunications Corp.		11,475		266,450
Digi International, Inc. (a)		12,500		158,375
Extreme Networks, Inc. (a)		50,414		377,601
Finisar Corp. (a)		48,812		1,130,974
Harmonic, Inc. (a)		38,803		210,312
Infinera Corp. (a) (b)		66,643		289,231
InterDigital, Inc.		14,704		970,170
Lumentum Holdings, Inc. (a) (b)		32,859		1,857,848
NETGEAR, Inc. (a) (b)		13,343		441,920
NetScout Systems, Inc. (a)		32,759		919,545
Plantronics, Inc.		14,059		648,260
Quantenna Communications, Inc. (a)		15,870		386,117
Ribbon Communications, Inc. (a)		25,862		133,189
ViaSat, Inc. (a) (b)		23,310		1,806,525
Viavi Solutions, Inc. (a)		100,089		1,239,102
				14,655,536
Construction & Engineering—1.0%
Aegion Corp. (a)		15,075		264,868
Ameresco, Inc. - Class A (a)		9,620		155,652
Argan, Inc. (b)		6,140		306,693
Comfort Systems USA, Inc.		16,446		861,606
Dycom Industries, Inc. (a) (b)		13,476		619,087
EMCOR Group, Inc. (b)		25,321		1,850,459
Granite Construction, Inc. (b)		19,793		854,068
Great Lakes Dredge & Dock Corp. (a)		27,775		247,475
Construction & Engineering—(Continued)
KBR, Inc.		62,037		1,184,286
MasTec, Inc. (a) (b)		26,785		1,288,358
MYR Group, Inc. (a)		6,874		238,047
Northwest Pipe Co. (a)		4,538		108,912
NV5 Global, Inc. (a) (b)		3,969		235,600
Primoris Services Corp.		17,845		369,034
Sterling Construction Co., Inc. (a)		13,246		165,840
Tutor Perini Corp. (a) (b)		19,192		328,567
Willscot Corp. (a)		14,553		161,393
				9,239,945
Construction Materials—0.1%
Summit Materials, Inc. - Class A (a) (b)		51,305		814,210
U.S. Concrete, Inc. (a) (b)		7,217		298,928
				1,113,138
Consumer Finance—0.6%
Encore Capital Group, Inc. (a) (b)		11,469		312,301
Enova International, Inc. (a)		15,391		351,223
EZCORP, Inc. - Class A (a) (b)		25,543		238,061
FirstCash, Inc.		18,229		1,576,809
Green Dot Corp. - Class A (a)		21,516		1,304,945
LendingClub Corp. (a)		142,833		441,354
Nelnet, Inc. - Class A		9,125		502,514
PRA Group, Inc. (a) (b)		19,388		519,792
Regional Management Corp. (a)		5,496		134,212
World Acceptance Corp. (a)		2,848		333,586
				5,714,797
Containers & Packaging—0.1%
Greif, Inc. - Class A		12,112		499,620
Greif, Inc. - Class B		2,277		111,323
Myers Industries, Inc.		14,676		251,106
				862,049
Distributors—0.1%
Core-Mark Holding Co., Inc.		21,704		805,869
Funko, Inc. - Class A (a)		5,447		118,309
				924,178
Diversified Consumer Services—0.9%
Adtalem Global Education, Inc. (a)		25,502		1,181,253
American Public Education, Inc. (a)		6,406		192,949
Career Education Corp. (a)		31,150		514,598
Carriage Services, Inc.		7,506		144,490
Chegg, Inc. (a)		46,288		1,764,498
Houghton Mifflin Harcourt Co. (a)		46,134		335,394
K12, Inc. (a)		17,337		591,712
Laureate Education, Inc. - Class A (a)		41,832		626,225
Regis Corp. (a) (b)		12,930		254,333
Sotheby’s (a)		13,420		506,605
Strategic Education, Inc.		9,106		1,195,709
Weight Watchers International, Inc. (a)		17,564		353,915
				7,661,681

BHFTII-197

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Financial Services—0.2%
Banco Latinoamericano de Comercio Exterior S.A. - Class E		14,005	$	278,980
Cannae Holdings, Inc. (a)		30,326		735,709
FGL Holdings		61,920		487,310
On Deck Capital, Inc. (a)		25,436		137,863
				1,639,862
Diversified Telecommunication Services—0.5%
ATN International, Inc.		4,754		268,078
Cincinnati Bell, Inc. (a)		19,517		186,192
Cogent Communications Holdings, Inc.		17,728		961,744
Consolidated Communications Holdings, Inc. (b)		32,698		356,735
Frontier Communications Corp. (a) (b)		47,610		94,744
Intelsat S.A. (a) (b)		23,051		360,979
Iridium Communications, Inc. (a) (b)		44,054		1,164,788
Ooma, Inc. (a)		9,215		122,006
ORBCOMM, Inc. (a) (b)		31,662		214,668
pdvWireless, Inc. (a)		4,481		157,552
Vonage Holdings Corp. (a)		92,718		930,889
				4,818,375
Electric Utilities—1.2%
ALLETE, Inc.		22,048		1,813,007
El Paso Electric Co.		17,076		1,004,410
IDACORP, Inc. (b)		21,685		2,158,525
MGE Energy, Inc.		15,960		1,084,801
Otter Tail Corp.		18,035		898,504
PNM Resources, Inc.		34,438		1,630,295
Portland General Electric Co.		38,292		1,985,057
				10,574,599
Electrical Equipment—0.7%
Allied Motion Technologies, Inc.		3,283		112,870
Atkore International Group, Inc. (a)		18,445		397,121
AZZ, Inc.		10,507		430,051
Encore Wire Corp.		8,097		463,310
EnerSys		18,778		1,223,574
Enphase Energy, Inc. (a) (b)		41,498		383,027
Generac Holdings, Inc. (a)		26,660		1,365,792
Plug Power, Inc. (a) (b)		104,473		250,735
Powell Industries, Inc.		4,404		116,926
Sunrun, Inc. (a) (b)		43,801		615,842
Thermon Group Holdings, Inc. (a)		15,847		388,410
TPI Composites, Inc. (a)		7,332		209,842
Vicor Corp. (a)		7,027		217,978
				6,175,478
Electronic Equipment, Instruments & Components—2.5%
Anixter International, Inc. (a)		12,098		678,819
Arlo Technologies, Inc. (a)		26,422		109,123
AVX Corp. (b)		21,871		379,243
Badger Meter, Inc.		12,590		700,508
Bel Fuse, Inc. - Class B		4,606		116,440
Belden, Inc.		17,022		914,081
Benchmark Electronics, Inc.		20,690		543,112
Control4 Corp. (a)		10,604		179,526
CTS Corp.		15,701		461,138
Daktronics, Inc.		17,820		132,759
ePlus, Inc. (a)		6,246		553,021
Fabrinet (a)		14,928		781,630
FARO Technologies, Inc. (a) (b)		7,841		344,298
Fitbit, Inc. - Class A (a) (b)		94,378		558,718
II-VI, Inc. (a)		28,216		1,050,764
Insight Enterprises, Inc. (a) (c)		15,396		847,704
Itron, Inc. (a)		14,816		691,166
KEMET Corp.		25,798		437,792
Kimball Electronics, Inc. (a)		8,244		127,700
Knowles Corp. (a)		40,362		711,582
Mesa Laboratories, Inc.		1,474		339,757
Methode Electronics, Inc.		15,351		441,802
MTS Systems Corp. (b)		7,482		407,470
Napco Security Technologies, Inc. (a)		5,652		117,222
nLight, Inc. (a) (b)		10,315		229,818
Novanta, Inc. (a)		13,765		1,166,308
OSI Systems, Inc. (a)		7,093		621,347
PAR Technology Corp. (a)		5,391		131,864
Park Electrochemical Corp.		10,569		165,933
PC Connection, Inc.		5,366		196,771
Plexus Corp. (a) (c)		13,647		831,785
Rogers Corp. (a) (b)		8,166		1,297,414
Sanmina Corp. (a)		28,234		814,551
ScanSource, Inc. (a)		12,162		435,643
SYNNEX Corp.		18,075		1,724,174
Tech Data Corp. (a) (b)		16,409		1,680,446
TTM Technologies, Inc. (a)		43,439		509,539
Vishay Intertechnology, Inc. (b)		56,238		1,038,716
Vishay Precision Group, Inc. (a)		5,267		180,184
				22,649,868
Energy Equipment & Services—1.3%
Archrock, Inc.		54,537		533,372
C&J Energy Services, Inc. (a)		30,083		466,888
Cactus, Inc. - Class A (a)		17,081		608,084
Diamond Offshore Drilling, Inc. (a) (b)		27,291		286,283
Dril-Quip, Inc. (a) (b)		15,999		733,554
Exterran Corp. (a)		14,849		250,206
Forum Energy Technologies, Inc. (a)		38,569		197,088
Frank’s International NV (a)		36,054		223,895
FTS International, Inc. (a)		16,194		161,940
Helix Energy Solutions Group, Inc. (a) (b)		67,569		534,471
Keane Group, Inc. (a)		25,842		281,419
KLX Energy Services Holdings, Inc. (a)		9,171		230,559
Liberty Oilfield Services, Inc. - Class A (b)		20,373		313,540
Mammoth Energy Services, Inc.		6,277		104,512
Matrix Service Co. (a)		14,196		277,958
McDermott International, Inc. (a)		78,718		585,662
Natural Gas Services Group, Inc. (a)		6,643		114,990
Newpark Resources, Inc. (a)		41,815		383,025
Nine Energy Service, Inc. (a)		7,202		163,125
Noble Corp. plc (a)		121,320		348,188
Oceaneering International, Inc. (a)		45,596		719,049
Oil States International, Inc. (a)		27,605		468,181

BHFTII-198

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Energy Equipment & Services—(Continued)
ProPetro Holding Corp. (a)		33,439	$	753,715
Rowan Cos. plc - Class A (a) (b)		56,769		612,538
SEACOR Holdings, Inc. (a)		7,977		337,268
Select Energy Services, Inc. - Class A (a) (b)		21,969		264,067
Solaris Oilfield Infrastructure, Inc. - Class A (b)		13,032		214,246
Superior Energy Services, Inc. (a)		73,574		343,591
TETRA Technologies, Inc. (a)		63,074		147,593
Tidewater, Inc. (a)		13,353		309,656
U.S. Silica Holdings, Inc. (b)		34,136		592,601
Unit Corp. (a)		24,655		351,087
				11,912,351
Entertainment—0.5%
AMC Entertainment Holdings, Inc. - Class A (b)		25,675		381,274
Eros International plc (a)		13,360		122,110
Glu Mobile, Inc. (a)		50,565		553,181
IMAX Corp. (a)		23,016		522,003
Liberty Braves Group - Class A (a)		5,080		141,935
Liberty Braves Group - Class C (a)		16,010		444,598
Marcus Corp. (The)		9,550		382,477
Reading International, Inc. - Class A (a)		8,504		135,724
Rosetta Stone, Inc. (a)		9,843		215,070
World Wrestling Entertainment, Inc. - Class A		18,234		1,582,346
				4,480,718
Equity Real Estate Investment Trusts—6.8%
Acadia Realty Trust		34,500		940,815
Agree Realty Corp.		14,748		1,022,626
Alexander & Baldwin, Inc.		29,617		753,457
Alexander’s, Inc.		1,029		387,079
American Assets Trust, Inc.		16,370		750,728
Americold Realty Trust		55,932		1,706,485
Armada Hoffler Properties, Inc. (b)		19,662		306,531
Ashford Hospitality Trust, Inc.		36,619		173,940
Bluerock Residential Growth REIT, Inc.		11,894		128,217
Braemar Hotels & Resorts, Inc.		14,521		177,301
CareTrust REIT, Inc.		36,768		862,577
CatchMark Timber Trust, Inc. - Class A		23,620		231,948
CBL & Associates Properties, Inc. (b)		78,126		121,095
Cedar Realty Trust, Inc.		37,954		129,044
Chatham Lodging Trust		19,109		367,657
Chesapeake Lodging Trust		24,761		688,603
City Office REIT, Inc.		14,820		167,614
Community Healthcare Trust, Inc.		6,825		244,949
CoreCivic, Inc.		50,114		974,717
CorEnergy Infrastructure Trust, Inc.		5,980		219,765
Corepoint Lodging, Inc.		18,376		205,260
Cousins Properties, Inc.		183,442		1,772,050
DiamondRock Hospitality Co.		92,371		1,000,378
Easterly Government Properties, Inc.		27,307		491,799
EastGroup Properties, Inc.		14,859		1,658,859
First Industrial Realty Trust, Inc.		53,382		1,887,588
Four Corners Property Trust, Inc.		29,818		882,613
Franklin Street Properties Corp.		48,177		346,393
Front Yard Residential Corp.		23,934		221,868
Geo Group, Inc. (The)		53,292		1,023,206
Equity Real Estate Investment Trusts—(Continued)
Getty Realty Corp.		13,449		430,772
Gladstone Commercial Corp.		13,243		275,057
Global Net Lease, Inc.		31,987		604,554
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		26,277		673,742
Healthcare Realty Trust, Inc. (b)		53,035		1,702,954
Hersha Hospitality Trust		16,071		275,457
Independence Realty Trust, Inc.		39,339		424,468
Industrial Logistics Properties Trust		27,724		559,193
InfraREIT, Inc.		19,986		419,106
Innovative Industrial Properties, Inc. (b)		4,310		352,084
Investors Real Estate Trust (b)		5,565		333,399
iStar, Inc.		31,393		264,329
Jernigan Capital, Inc.		8,813		185,426
Kite Realty Group Trust		38,990		623,450
Lexington Realty Trust		93,551		847,572
LTC Properties, Inc.		17,896		819,637
Mack-Cali Realty Corp.		38,134		846,575
MedEquities Realty Trust, Inc.		13,970		155,486
Monmouth Real Estate Investment Corp.		38,893		512,610
National Health Investors, Inc.		18,042		1,417,199
National Storage Affiliates Trust		25,366		723,185
New Senior Investment Group, Inc.		35,722		194,685
NexPoint Residential Trust, Inc.		9,154		350,964
NorthStar Realty Europe Corp.		22,208		385,531
Office Properties Income Trust		20,820		575,465
One Liberty Properties, Inc.		6,290		182,410
Pebblebrook Hotel Trust (b)		55,986		1,738,925
Pennsylvania Real Estate Investment Trust (b)		32,570		204,865
Physicians Realty Trust		76,930		1,447,053
Piedmont Office Realty Trust, Inc. - Class A		53,950		1,124,858
PotlatchDeltic Corp.		29,869		1,128,750
Preferred Apartment Communities, Inc. - Class A		18,839		279,194
PS Business Parks, Inc.		8,900		1,395,787
QTS Realty Trust, Inc. - Class A (b)		22,822		1,026,762
Retail Opportunity Investments Corp.		47,153		817,633
Rexford Industrial Realty, Inc.		40,096		1,435,838
RLJ Lodging Trust		77,648		1,364,275
RPT Realty (b)		37,976		456,092
Ryman Hospitality Properties, Inc.		19,180		1,577,363
Sabra Health Care REIT, Inc. (b)		75,831		1,476,430
Saul Centers, Inc.		5,405		277,655
Seritage Growth Properties - Class A (b)		15,000		666,600
Spirit MTA REIT		21,163		137,348
STAG Industrial, Inc.		41,512		1,230,831
Summit Hotel Properties, Inc. (b)		48,101		548,832
Sunstone Hotel Investors, Inc.		96,456		1,388,966
Tanger Factory Outlet Centers, Inc. (b)		42,302		887,496
Terreno Realty Corp.		25,347		1,065,588
Tier REIT, Inc.		22,342		640,322
UMH Properties, Inc.		14,825		208,736
Universal Health Realty Income Trust		6,109		462,512
Urban Edge Properties		50,231		954,389
Urstadt Biddle Properties, Inc. - Class A		13,207		272,593
Washington Prime Group, Inc. (b)		85,471		482,911
Washington Real Estate Investment Trust		34,947		991,796
Whitestone REIT		18,215		218,944

BHFTII-199

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Xenia Hotels & Resorts, Inc.		49,824	$	1,091,644
				60,981,460
Food & Staples Retailing—0.7%
Andersons, Inc. (The) (b)		13,251		427,080
BJ’s Wholesale Club Holdings, Inc. (a)		55,350		1,516,590
Chefs’ Warehouse, Inc. (The) (a)		8,577		266,316
Ingles Markets, Inc. - Class A		6,173		170,498
Performance Food Group Co. (a)		45,579		1,806,752
Pricesmart, Inc.		9,083		534,807
Rite Aid Corp. (a) (b)		479,222		304,306
SpartanNash Co.		16,917		268,473
United Natural Foods, Inc. (a) (b)		23,843		315,204
Village Super Market, Inc. - Class A (b)		4,043		110,495
Weis Markets, Inc. (b)		4,490		183,237
				5,903,758
Food Products—1.1%
B&G Foods, Inc. (b)		30,133		735,848
Cal-Maine Foods, Inc.		14,364		641,065
Calavo Growers, Inc. (b)		7,353		616,549
Darling Ingredients, Inc. (a)		72,905		1,578,393
Dean Foods Co. (b)		42,544		128,908
Farmer Bros Co. (a)		3,967		79,380
Fresh Del Monte Produce, Inc.		13,189		356,499
Freshpet, Inc. (a)		10,616		448,951
Hostess Brands, Inc. (a)		45,622		570,275
J&J Snack Foods Corp.		6,582		1,045,485
John B Sanfilippo & Son, Inc.		4,150		298,261
Lancaster Colony Corp. (b)		8,191		1,283,448
Landec Corp. (a)		14,010		172,043
Limoneira Co. (b)		6,209		146,098
Sanderson Farms, Inc. (b)		8,604		1,134,351
Simply Good Foods Co. (The) (a) (b)		26,653		548,785
Tootsie Roll Industries, Inc. (b)		6,622		246,598
				10,030,937
Gas Utilities—1.2%
Chesapeake Utilities Corp.		6,975		636,190
New Jersey Resources Corp.		38,723		1,928,018
Northwest Natural Holding Co.		13,257		870,057
ONE Gas, Inc.		22,361		1,990,800
South Jersey Industries, Inc.		40,110		1,286,328
Southwest Gas Holdings, Inc.		22,856		1,880,134
Spire, Inc.		20,952		1,724,140
				10,315,667
Health Care Equipment & Supplies—3.6%
Accuray, Inc. (a)		42,251		201,537
AngioDynamics, Inc. (a)		17,852		408,097
Anika Therapeutics, Inc. (a) (b)		7,087		214,311
Antares Pharma, Inc. (a) (b)		69,581		210,830
AtriCure, Inc. (a)		16,270		435,873
Atrion Corp.		618		543,024
Avanos Medical, Inc. (a)		20,898		891,927
Health Care Equipment & Supplies—(Continued)
AxoGen, Inc. (a) (b)		15,476		325,925
Cardiovascular Systems, Inc. (a)		14,951		578,006
Cerus Corp. (a)		58,326		363,371
CONMED Corp.		11,683		971,792
CryoLife, Inc. (a)		17,220		502,307
CryoPort, Inc. (a) (b)		12,188		157,469
Cutera, Inc. (a)		6,744		119,099
CytoSorbents Corp. (a)		14,785		111,922
GenMark Diagnostics, Inc. (a)		26,350		186,822
Glaukos Corp. (a)		15,446		1,210,503
Globus Medical, Inc. - Class A (a)		32,771		1,619,215
Haemonetics Corp. (a) (b)		22,809		1,995,331
Heska Corp. (a) (b)		3,277		278,938
Inogen, Inc. (a) (b)		7,603		725,098
Integer Holdings Corp. (a)		13,621		1,027,296
Invacare Corp.		16,957		141,930
iRhythm Technologies, Inc. (a) (b)		11,010		825,310
Lantheus Holdings, Inc. (a)		18,267		447,176
LeMaitre Vascular, Inc.		7,651		237,181
LivaNova plc (a)		21,333		2,074,634
Meridian Bioscience, Inc.		22,552		397,141
Merit Medical Systems, Inc. (a) (b)		23,561		1,456,777
Natus Medical, Inc. (a)		15,157		384,685
Neogen Corp. (a) (b)		21,760		1,248,806
Nevro Corp. (a) (b)		13,030		814,505
Novocure, Ltd. (a)		33,161		1,597,365
NuVasive, Inc. (a)		22,101		1,255,116
OraSure Technologies, Inc. (a)		28,446		317,173
Orthofix Medical, Inc. (a)		7,561		426,516
OrthoPediatrics Corp. (a)		3,676		162,590
Oxford Immunotec Global plc (a)		12,520		215,720
Quidel Corp. (a) (b)		15,132		990,692
Rockwell Medical, Inc. (a) (b)		25,889		147,308
RTI Surgical, Inc. (a)		30,074		180,745
Senseonics Holdings, Inc. (a) (b)		42,278		103,581
STAAR Surgical Co. (a)		19,419		663,936
SurModics, Inc. (a)		6,159		267,793
Tactile Systems Technology, Inc. (a)		8,238		434,307
Tandem Diabetes Care, Inc. (a)		22,706		1,441,831
TransEnterix, Inc. (a) (b)		73,037		173,828
Utah Medical Products, Inc.		2,002		176,677
Varex Imaging Corp. (a)		17,885		605,944
ViewRay, Inc. (a) (b)		25,410		187,780
Wright Medical Group NV (a) (b)		55,761		1,753,683
				32,209,423
Health Care Providers & Services—1.9%
Addus HomeCare Corp. (a)		4,191		266,506
Amedisys, Inc. (a)		11,809		1,455,577
AMN Healthcare Services, Inc. (a)		21,592		1,016,767
BioScrip, Inc. (a)		62,422		124,844
BioTelemetry, Inc. (a)		15,132		947,566
Brookdale Senior Living, Inc. (a)		86,808		571,197
Community Health Systems, Inc. (a)		43,641		162,781
Corvel Corp. (a)		4,267		278,379
Cross Country Healthcare, Inc. (a)		16,495		115,960

BHFTII-200

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
Diplomat Pharmacy, Inc. (a) (b)		26,141	$	151,879
Ensign Group, Inc. (The)		21,431		1,097,053
Guardant Health, Inc. (a) (b)		6,515		499,700
HealthEquity, Inc. (a) (b)		23,550		1,742,229
LHC Group, Inc. (a)		13,057		1,447,499
Magellan Health, Inc. (a)		11,100		731,712
National Healthcare Corp. (b)		5,246		398,066
National Research Corp. - Class A		4,950		191,070
Owens & Minor, Inc. (b)		28,475		116,748
Patterson Cos., Inc. (b)		37,980		829,863
PetIQ, Inc. (a) (b)		7,710		242,171
Providence Service Corp. (The) (a)		5,978		398,254
R1 RCM, Inc. (a)		47,026		454,741
RadNet, Inc. (a)		21,044		260,735
Select Medical Holdings Corp. (a)		47,385		667,655
Surgery Partners, Inc. (a) (b)		9,540		107,611
Tenet Healthcare Corp. (a)		38,490		1,110,052
Tivity Health, Inc. (a)		21,321		374,397
Triple-S Management Corp. - Class B (a)		9,291		212,021
U.S. Physical Therapy, Inc.		6,011		631,335
				16,604,368
Health Care Technology—1.1%
Allscripts Healthcare Solutions, Inc. (a) (b)		77,571		740,027
Castlight Health, Inc. - Class B (a)		40,679		152,546
Computer Programs & Systems, Inc. (b)		5,856		173,865
Evolent Health, Inc. - Class A (a)		31,066		390,810
HealthStream, Inc. (a)		12,016		337,169
HMS Holdings Corp. (a)		37,216		1,101,966
Inovalon Holdings, Inc. - Class A (a) (b)		29,972		372,552
Inspire Medical Systems, Inc. (a)		6,838		388,262
Medidata Solutions, Inc. (a) (b)		24,663		1,806,318
NextGen Healthcare, Inc. (a)		24,814		417,620
Omnicell, Inc. (a)		16,836		1,361,022
Simulations Plus, Inc.		5,451		115,071
Tabula Rasa HealthCare, Inc. (a) (b)		8,170		460,951
Teladoc Health, Inc. (a) (b)		29,056		1,615,514
Vocera Communications, Inc. (a)		13,407		424,063
				9,857,756
Hotels, Restaurants & Leisure—2.9%
BBX Capital Corp.		25,192		149,137
Belmond, Ltd. - Class A (a)		38,434		958,160
BJ’s Restaurants, Inc.		9,083		429,444
Bloomin’ Brands, Inc.		36,028		736,773
Boyd Gaming Corp.		36,831		1,007,696
Brinker International, Inc. (b)		16,964		752,862
Carrols Restaurant Group, Inc. (a)		17,458		174,056
Century Casinos, Inc. (a)		13,208		119,664
Cheesecake Factory, Inc. (The) (b)		18,905		924,833
Churchill Downs, Inc.		14,928		1,347,401
Chuy’s Holdings, Inc. (a)		8,272		188,353
Cracker Barrel Old Country Store, Inc. (b)		8,458		1,366,897
Dave & Buster’s Entertainment, Inc. (b)		17,269		861,205
Del Frisco’s Restaurant Group, Inc. (a)		16,266		104,265
Del Taco Restaurants, Inc. (a)		16,196		162,932
Hotels, Restaurants & Leisure—(Continued)
Denny’s Corp. (a)		25,229		462,952
Dine Brands Global, Inc.		7,762		708,593
Drive Shack, Inc. (a)		29,184		131,036
El Pollo Loco Holdings, Inc. (a)		10,879		141,536
Eldorado Resorts, Inc. (a) (b)		27,820		1,298,916
Fiesta Restaurant Group, Inc. (a)		9,712		127,324
Golden Entertainment, Inc. (a)		8,432		119,397
Habit Restaurants, Inc. (The) - Class A (a)		10,004		108,243
International Speedway Corp. - Class A		10,424		454,799
Jack in the Box, Inc.		10,768		872,854
Lindblad Expeditions Holdings, Inc. (a)		10,779		164,380
Marriott Vacations Worldwide Corp.		16,923		1,582,301
Monarch Casino & Resort, Inc. (a)		5,265		231,239
Papa John’s International, Inc. (b)		10,257		543,108
Penn National Gaming, Inc. (a)		48,164		968,096
Planet Fitness, Inc. - Class A (a) (b)		37,935		2,606,893
PlayAGS, Inc. (a)		9,992		239,109
Red Robin Gourmet Burgers, Inc. (a)		5,863		168,913
Red Rock Resorts, Inc. - Class A		32,000		827,200
Ruth’s Hospitality Group, Inc.		13,027		333,361
Scientific Games Corp. - Class A (a)		24,798		506,375
SeaWorld Entertainment, Inc. (a)		25,485		656,494
Shake Shack, Inc. - Class A (a)		11,359		671,885
Texas Roadhouse, Inc.		29,169		1,814,020
Wingstop, Inc.		12,085		918,823
				25,941,525
Household Durables—1.5%
Beazer Homes USA, Inc. (a)		13,700		157,687
Cavco Industries, Inc. (a)		3,571		419,700
Century Communities, Inc. (a)		12,109		290,253
Ethan Allen Interiors, Inc. (b)		12,159		232,602
GoPro, Inc. - Class A (a)		52,565		341,673
Helen of Troy, Ltd. (a) (b)		11,424		1,324,727
Hooker Furniture Corp.		5,444		156,951
Installed Building Products, Inc. (a)		9,469		459,246
iRobot Corp. (a) (b)		11,431		1,345,314
KB Home		37,780		913,143
La-Z-Boy, Inc.		21,678		715,157
LGI Homes, Inc. (a) (b)		8,210		494,570
M/I Homes, Inc. (a)		12,868		342,546
MDC Holdings, Inc.		20,801		604,477
Meritage Homes Corp. (a) (b)		15,760		704,630
Roku, Inc. (a) (b)		19,013		1,226,529
Skyline Champion Corp.		13,094		248,786
Taylor Morrison Home Corp. - Class A (a)		47,598		844,864
TopBuild Corp. (a)		15,564		1,008,858
TRI Pointe Group, Inc. (a) (b)		58,711		742,107
Tupperware Brands Corp.		21,006		537,333
Universal Electronics, Inc. (a)		6,028		223,940
William Lyon Homes - Class A (a)		14,816		227,722
ZAGG, Inc. (a)		14,118		128,050
				13,690,865
Household Products—0.2%
Central Garden and Pet Co. (a)		4,446		113,640

BHFTII-201

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Products—(Continued)
Central Garden and Pet Co. - Class A (a)		18,062	$	419,941
WD-40 Co. (b)		5,879		996,138
				1,529,719
Independent Power and Renewable Electricity Producers—0.3%
Atlantic Power Corp. (a)		50,551		127,389
Clearway Energy, Inc. - Class A		16,087		233,905
Clearway Energy, Inc. - Class C		32,256		487,388
Ormat Technologies, Inc. (b)		16,822		927,733
Pattern Energy Group, Inc. - Class A		35,949		790,878
TerraForm Power, Inc. - Class A		34,889		479,375
				3,046,668
Industrial Conglomerates—0.1%
Raven Industries, Inc.		15,898		610,006
Insurance—2.6%
Ambac Financial Group, Inc. (a)		22,444		406,685
American Equity Investment Life Holding Co.		37,983		1,026,301
AMERISAFE, Inc.		7,822		464,627
Argo Group International Holdings, Ltd.		14,435		1,019,977
Citizens, Inc. (a) (b)		22,172		147,887
CNO Financial Group, Inc.		71,414		1,155,479
eHealth, Inc. (a)		9,736		606,942
EMC Insurance Group, Inc.		4,472		142,567
Employers Holdings, Inc.		14,789		593,187
Enstar Group, Ltd. (a)		5,526		961,524
FBL Financial Group, Inc. - Class A		4,790		300,429
Genworth Financial, Inc. - Class A (a)		223,663		856,629
Global Indemnity, Ltd.		3,335		101,317
Goosehead Insurance, Inc. - Class A		5,024		140,069
Greenlight Capital Re, Ltd. - Class A (a) (b)		13,998		152,158
HCI Group, Inc. (b)		2,670		114,089
Health Insurance Innovations, Inc. - Class A (a) (b)		5,782		155,073
Heritage Insurance Holdings, Inc.		11,792		172,163
Horace Mann Educators Corp.		18,978		668,216
Investors Title Co.		687		108,477
James River Group Holdings, Ltd.		12,177		488,054
Kemper Corp.		22,372		1,703,404
Kinsale Capital Group, Inc.		9,172		628,924
MBIA, Inc. (a)		41,874		398,641
National General Holdings Corp.		28,508		676,495
National Western Life Group, Inc. - Class A		1,054		276,644
Navigators Group, Inc. (The)		9,344		652,865
Primerica, Inc.		18,907		2,309,490
ProAssurance Corp.		22,282		771,180
RLI Corp. (b)		16,583		1,189,830
Safety Insurance Group, Inc.		6,815		593,859
Selective Insurance Group, Inc.		24,829		1,571,179
State Auto Financial Corp.		7,940		261,385
Stewart Information Services Corp.		10,993		469,291
Third Point Reinsurance, Ltd. (a)		34,789		361,110
Trupanion, Inc. (a) (b)		11,074		362,563
United Fire Group, Inc.		9,677		422,982
United Insurance Holdings Corp.		8,654		137,599
Insurance—(Continued)
Universal Insurance Holdings, Inc.		13,371		414,501
				22,983,792
Interactive Media & Services—0.5%
Care.com, Inc. (a)		6,999		138,300
Cargurus, Inc. (a)		21,694		869,062
Cars.com, Inc. (a) (b)		29,503		672,668
Liberty TripAdvisor Holdings, Inc. - Class A (a)		34,803		493,855
Meet Group, Inc. (The) (a)		33,008		166,030
QuinStreet, Inc. (a)		18,085		242,158
TrueCar, Inc. (a)		42,606		282,904
Yelp, Inc. (a) (b)		36,366		1,254,627
				4,119,604
Internet & Direct Marketing Retail—0.9%
1-800-Flowers.com, Inc. - Class A (a)		13,330		243,006
Etsy, Inc. (a)		51,116		3,436,017
Groupon, Inc. (a)		195,286		693,265
Liberty Expedia Holdings, Inc. - Class A (a)		22,829		977,081
Overstock.com, Inc. (a) (b)		9,776		162,477
PetMed Express, Inc. (b)		9,436		214,952
Quotient Technology, Inc. (a)		35,202		347,444
Shutterfly, Inc. (a)		15,092		613,339
Shutterstock, Inc. (b)		9,230		430,395
Stamps.com, Inc. (a) (b)		7,719		628,404
				7,746,380
IT Services—2.1%
Brightcove, Inc. (a)		17,189		144,559
CACI International, Inc. - Class A (a) (c)		10,580		1,925,772
Carbonite, Inc. (a) (b)		13,993		347,166
Cardtronics plc - Class A (a) (b)		17,673		628,805
Cass Information Systems, Inc.		5,890		278,597
CSG Systems International, Inc. (b)		15,258		645,413
Endurance International Group Holdings, Inc. (a)		27,122		196,634
Everi Holdings, Inc. (a)		31,818		334,725
EVERTEC, Inc.		25,916		720,724
Evo Payments, Inc. - Class A (a)		11,615		337,416
ExlService Holdings, Inc. (a) (b)		15,305		918,606
GTT Communications, Inc. (a) (b)		18,758		650,903
Hackett Group, Inc. (The)		11,151		176,186
Limelight Networks, Inc. (a)		43,835		141,587
LiveRamp Holdings, Inc. (a)		29,251		1,596,227
ManTech International Corp. - Class A		10,826		584,821
MAXIMUS, Inc.		27,829		1,975,302
NIC, Inc.		29,109		497,473
Perficient, Inc. (a)		13,564		371,518
Perspecta, Inc.		61,282		1,239,122
Presidio, Inc.		16,489		244,037
Science Applications International Corp.		21,823		1,679,280
Sykes Enterprises, Inc. (a)		18,634		526,970
Travelport Worldwide, Ltd.		56,729		892,347
TTEC Holdings, Inc.		7,377		267,269
Tucows, Inc. - Class A (a) (b)		4,376		355,244
Unisys Corp. (a)		20,742		242,059

BHFTII-202

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Virtusa Corp. (a)		12,986	$	694,102
				18,612,864
Leisure Products—0.3%
Acushnet Holdings Corp.		14,893		344,624
American Outdoor Brands Corp. (a)		25,637		239,450
Callaway Golf Co. (b)		43,200		688,176
Clarus Corp.		10,372		132,865
Johnson Outdoors, Inc. - Class A		2,524		180,113
Malibu Boats, Inc. - Class A (a)		8,768		347,038
MasterCraft Boat Holdings, Inc. (a)		9,205		207,757
Sturm Ruger & Co., Inc.		7,553		400,460
Vista Outdoor, Inc. (a) (b)		27,041		216,598
YETI Holdings, Inc. (a) (b)		7,841		237,190
				2,994,271
Life Sciences Tools & Services—0.6%
Accelerate Diagnostics, Inc. (a) (b)		11,348		238,535
Cambrex Corp. (a)		15,180		589,743
Codexis, Inc. (a) (b)		21,463		440,635
Fluidigm Corp. (a)		16,104		214,022
Luminex Corp.		18,901		434,912
Medpace Holdings, Inc. (a)		9,844		580,501
NanoString Technologies, Inc. (a)		11,330		271,127
NeoGenomics, Inc. (a) (b)		36,638		749,613
Pacific Biosciences of California, Inc. (a)		57,706		417,214
Syneos Health, Inc. (a)		28,231		1,461,237
				5,397,539
Machinery—3.6%
Actuant Corp. - Class A		28,401		692,132
Alamo Group, Inc.		4,629		462,622
Albany International Corp. - Class A		12,352		884,280
Altra Industrial Motion Corp.		27,121		842,107
Astec Industries, Inc. (b)		10,105		381,565
Barnes Group, Inc.		20,566		1,057,298
Blue Bird Corp. (a)		5,751		97,364
Briggs & Stratton Corp.		19,347		228,875
Chart Industries, Inc. (a)		13,047		1,181,014
CIRCOR International, Inc. (a) (b)		7,291		237,687
Columbus McKinnon Corp.		10,074		346,042
Commercial Vehicle Group, Inc. (a)		14,605		112,020
DMC Global, Inc.		7,160		355,422
Douglas Dynamics, Inc.		9,877		376,017
Energy Recovery, Inc. (a) (b)		17,996		157,105
EnPro Industries, Inc.		8,388		540,607
ESCO Technologies, Inc.		10,899		730,560
Evoqua Water Technologies Corp. (a) (b)		34,844		438,338
Federal Signal Corp.		27,402		712,178
Franklin Electric Co., Inc.		19,223		982,103
Global Brass & Copper Holdings, Inc.		8,075		278,103
Gorman-Rupp Co. (The)		7,300		247,762
Greenbrier Cos., Inc. (The)		14,568		469,527
Harsco Corp. (a)		33,858		682,577
Hillenbrand, Inc.		26,557		1,102,912
Hurco Cos., Inc.		3,167		127,725
Machinery—(Continued)
Hyster-Yale Materials Handling, Inc.		4,976		310,303
John Bean Technologies Corp.		13,882		1,275,617
Kadant, Inc.		4,675		411,213
Kennametal, Inc. (b)		34,945		1,284,229
Lindsay Corp.		4,595		444,750
Lydall, Inc. (a)		8,342		195,703
Manitowoc Co., Inc. (The) (a)		15,849		260,082
Meritor, Inc. (a)		32,687		665,181
Milacron Holdings Corp. (a)		30,587		346,245
Miller Industries, Inc.		5,680		175,228
Mueller Industries, Inc.		23,070		723,014
Mueller Water Products, Inc. - Class A		67,872		681,435
Navistar International Corp. (a)		21,262		686,763
NN, Inc. (b)		19,899		149,044
Omega Flex, Inc.		1,434		108,697
Park-Ohio Holdings Corp.		4,748		153,740
Proto Labs, Inc. (a)		11,672		1,227,194
RBC Bearings, Inc. (a)		10,400		1,322,568
REV Group, Inc. (b)		11,893		130,228
Rexnord Corp. (a)		44,341		1,114,733
Spartan Motors, Inc.		16,327		144,167
SPX Corp. (a)		17,680		615,087
SPX FLOW, Inc. (a)		19,349		617,233
Standex International Corp.		5,879		431,519
Sun Hydraulics Corp.		12,428		578,026
Tennant Co.		8,362		519,197
Titan International, Inc.		22,706		135,555
TriMas Corp. (a)		18,947		572,768
Wabash National Corp.		27,273		369,549
Watts Water Technologies, Inc. - Class A		11,495		929,026
Woodward, Inc. (b)		22,995		2,181,996
				32,484,032
Marine—0.1%
Costamare, Inc.		19,016		98,883
Matson, Inc.		17,506		631,792
Scorpio Bulkers, Inc.		28,455		109,267
				839,942
Media—1.5%
Central European Media Enterprises, Ltd. - Class A (a)		41,828		166,475
Daily Journal Corp. (a) (b)		598		128,032
Emerald Expositions Events, Inc.		11,929		151,498
Entercom Communications Corp. - Class A (b)		57,510		301,928
Entravision Communications Corp. - Class A		31,450		101,898
EW Scripps Co. (The) - Class A		21,625		454,125
Gannett Co., Inc.		48,407		510,210
Gray Television, Inc. (a)		36,845		787,009
Hemisphere Media Group, Inc. (a)		9,041		127,478
Liberty Latin America, Ltd. - Class A (a)		20,395		394,439
Liberty Latin America, Ltd. - Class C (a)		47,246		918,935
Loral Space & Communications, Inc. (a)		6,669		240,417
Meredith Corp. (b)		16,644		919,747
MSG Networks, Inc. - Class A (a) (b)		24,914		541,880
National CineMedia, Inc.		30,282		213,488
New Media Investment Group, Inc. (b)		27,741		291,281

BHFTII-203

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Media—(Continued)
New York Times Co. (The) - Class A (b)		58,218	$	1,912,461
Nexstar Media Group, Inc. - Class A (b)		18,979		2,056,754
Scholastic Corp.		13,390		532,386
Sinclair Broadcast Group, Inc. - Class A		28,841		1,109,802
TechTarget, Inc. (a)		9,817		159,723
TEGNA, Inc.		94,828		1,337,075
WideOpenWest, Inc. (a)		15,386		140,013
				13,497,054
Metals & Mining—1.1%
AK Steel Holding Corp. (a) (b)		140,543		386,493
Allegheny Technologies, Inc. (a)		56,239		1,438,031
Carpenter Technology Corp.		20,845		955,743
Century Aluminum Co. (a) (b)		22,819		202,633
Cleveland-Cliffs, Inc. (b)		125,018		1,248,930
Coeur Mining, Inc. (a)		83,654		341,308
Commercial Metals Co.		48,444		827,424
Compass Minerals International, Inc.		15,656		851,217
Ferroglobe Representation & Warranty Insurance Trust (a) (d)		31,634		0
Haynes International, Inc.		6,653		218,418
Hecla Mining Co.		201,874		464,310
Kaiser Aluminum Corp.		6,611		692,370
Materion Corp.		9,498		541,956
Schnitzer Steel Industries, Inc. - Class A		10,351		248,424
SunCoke Energy, Inc. (a)		32,541		276,273
TimkenSteel Corp. (a) (b)		18,629		202,311
Warrior Met Coal, Inc.		19,698		598,819
Worthington Industries, Inc.		17,089		637,762
				10,132,422
Mortgage Real Estate Investment Trusts—1.1%
AG Mortgage Investment Trust, Inc.		14,345		241,570
Anworth Mortgage Asset Corp.		45,782		184,959
Apollo Commercial Real Estate Finance, Inc. (b)		51,435		936,117
Arbor Realty Trust, Inc. (b)		30,231		392,096
Ares Commercial Real Estate Corp.		11,438		173,743
ARMOUR Residential REIT, Inc.		22,887		446,983
Blackstone Mortgage Trust, Inc. - Class A (b)		49,203		1,700,456
Capstead Mortgage Corp.		43,532		373,940
Cherry Hill Mortgage Investment Corp.		7,926		136,486
Colony Credit Real Estate, Inc.		37,213		582,756
Dynex Capital, Inc. (b)		27,274		166,099
Exantas Capital Corp.		16,059		170,707
Granite Point Mortgage Trust, Inc.		22,671		421,000
Invesco Mortgage Capital, Inc.		56,333		890,061
KKR Real Estate Finance Trust, Inc.		10,088		201,962
Ladder Capital Corp.		40,774		693,974
New York Mortgage Trust, Inc.		76,110		463,510
Orchid Island Capital, Inc. (b)		21,449		141,134
PennyMac Mortgage Investment Trust		26,727		553,516
Ready Capital Corp. (b)		8,791		128,964
Redwood Trust, Inc.		42,187		681,320
TPG RE Finance Trust, Inc.		15,059		295,156
Western Asset Mortgage Capital Corp.		19,929		203,874
				10,180,383
Multi-Utilities—0.5%
Avista Corp.		27,924		1,134,273
Black Hills Corp.		22,987		1,702,647
NorthWestern Corp.		21,883		1,540,782
Unitil Corp.		7,429		402,429
				4,780,131
Multiline Retail—0.3%
Big Lots, Inc.		17,050		648,241
Dillard’s, Inc. - Class A (b)		4,781		344,328
J.C. Penney Co., Inc. (a) (b)		142,487		212,306
Ollie’s Bargain Outlet Holdings, Inc. (a)		21,477		1,832,632
				3,037,507
Oil, Gas & Consumable Fuels—2.2%
Arch Coal, Inc. - Class A (b)		7,564		690,366
Berry Petroleum Corp.		25,977		299,775
Bonanza Creek Energy, Inc. (a)		9,142		207,432
California Resources Corp. (a)		20,491		526,824
Callon Petroleum Co. (a) (b)		106,061		800,761
Carrizo Oil & Gas, Inc. (a) (b)		37,509		467,737
Clean Energy Fuels Corp. (a)		71,620		221,306
CONSOL Energy, Inc. (a)		13,213		452,149
CVR Energy, Inc.		8,533		351,560
Delek U.S. Holdings, Inc.		35,683		1,299,575
Denbury Resources, Inc. (a) (b)		204,313		418,842
DHT Holdings, Inc.		42,744		190,638
Energy Fuels, Inc. (a) (b)		40,972		136,437
Frontline, Ltd. (a) (b)		36,108		233,258
GasLog, Ltd.		20,748		362,260
Golar LNG, Ltd.		40,113		845,983
Green Plains, Inc.		17,956		299,506
Gulfport Energy Corp. (a) (b)		80,820		648,176
HighPoint Resources Corp. (a)		55,908		123,557
International Seaways, Inc. (a)		9,606		164,647
Jagged Peak Energy, Inc. (a) (b)		28,571		299,138
Laredo Petroleum, Inc. (a)		72,739		224,763
Matador Resources Co. (a) (b)		46,595		900,681
Nordic American Tankers, Ltd. (b)		66,438		134,205
Northern Oil and Gas, Inc. (a)		91,303		250,170
Oasis Petroleum, Inc. (a) (b)		124,006		748,996
Panhandle Oil and Gas, Inc. - Class A		7,855		123,323
Par Pacific holdings, Inc. (a)		16,282		289,982
PDC Energy, Inc. (a) (b)		28,041		1,140,708
Peabody Energy Corp.		34,338		972,795
Penn Virginia Corp. (a)		5,878		259,220
Renewable Energy Group, Inc. (a) (b)		16,294		357,816
REX American Resources Corp. (a)		2,989		240,943
Ring Energy, Inc. (a) (b)		28,500		167,295
SandRidge Energy, Inc. (a)		13,335		106,947
Scorpio Tankers, Inc.		20,512		406,958
SemGroup Corp. - Class A (b)		36,615		539,705
Ship Finance International, Ltd. (b)		38,547		475,670
Southwestern Energy Co. (a) (b)		248,862		1,167,163
SRC Energy, Inc. (a)		107,906		552,479
Talos Energy, Inc. (a) (b)		10,507		279,066
Teekay Corp.		29,414		115,303

BHFTII-204

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Tellurian, Inc. (a) (b)		38,940	$	436,128
Uranium Energy Corp. (a)		85,610		119,854
W&T Offshore, Inc. (a)		44,133		304,518
World Fuel Services Corp.		27,989		808,602
				20,163,217
Paper & Forest Products—0.4%
Boise Cascade Co.		18,411		492,678
Clearwater Paper Corp. (a)		7,836		152,645
Louisiana-Pacific Corp.		62,872		1,532,820
Neenah, Inc.		7,745		498,468
PH Glatfelter Co.		21,278		300,445
Schweitzer-Mauduit International, Inc.		13,580		525,818
Verso Corp. - Class A (a)		16,813		360,135
				3,863,009
Personal Products—0.3%
Edgewell Personal Care Co. (a) (b)		24,669		1,082,722
Inter Parfums, Inc.		8,191		621,451
Medifast, Inc. (b)		5,370		684,944
USANA Health Sciences, Inc. (a) (b)		5,606		470,175
				2,859,292
Pharmaceuticals—1.9%
Aerie Pharmaceuticals, Inc. (a) (b)		16,392		778,620
Akcea Therapeutics, Inc. (a) (b)		7,356		208,395
Akorn, Inc. (a)		43,557		153,321
Amneal Pharmaceuticals, Inc. (a) (b)		40,537		574,409
Amphastar Pharmaceuticals, Inc. (a)		18,205		371,928
ANI Pharmaceuticals, Inc. (a)		3,945		278,280
Assertio Therapeutics, Inc. (a)		30,866		156,491
Collegium Pharmaceutical, Inc. (a)		14,032		212,445
Corcept Therapeutics, Inc. (a) (b)		43,446		510,056
Cymabay Therapeutics, Inc. (a) (b)		28,178		374,204
Dermira, Inc. (a)		18,139		245,783
Eloxx Pharmaceuticals, Inc. (a)		14,403		168,227
Endo International plc (a)		96,815		777,424
Evolus, Inc. (a) (b)		5,108		115,288
Horizon Pharma plc (a) (b)		78,412		2,072,429
Innoviva, Inc. (a)		33,334		467,676
Intersect ENT, Inc. (a)		13,971		449,168
Intra-Cellular Therapies, Inc. (a)		19,606		238,801
Lannett Co., Inc. (a) (b)		16,129		126,935
Mallinckrodt plc (a)		38,301		832,664
Medicines Co. (The) (a) (b)		32,038		895,462
MyoKardia, Inc. (a) (b)		15,152		787,753
Omeros Corp. (a) (b)		21,460		372,760
Pacira Pharmaceuticals, Inc. (a)		18,507		704,376
Phibro Animal Health Corp. - Class A		9,993		329,769
Prestige Consumer Healthcare, Inc. (a) (b)		22,778		681,290
Reata Pharmaceuticals, Inc. - Class A (a)		8,381		716,324
Revance Therapeutics, Inc. (a)		15,532		244,784
SIGA Technologies, Inc. (a)		22,951		137,936
Supernus Pharmaceuticals, Inc. (a) (b)		22,494		788,190
TherapeuticsMD, Inc. (a) (b)		78,988		384,672
Pharmaceuticals—(Continued)
Theravance Biopharma, Inc. (a) (b)		19,690		446,372
Tricida, Inc. (a)		8,804		340,011
WAVE Life Sciences, Ltd. (a)		8,571		332,983
Zogenix, Inc. (a) (b)		19,414		1,067,964
				17,343,190
Professional Services—1.5%
ASGN, Inc. (a)		22,539		1,431,001
Barrett Business Services, Inc.		3,358		259,674
CBIZ, Inc. (a)		24,387		493,593
CRA International, Inc.		2,862		144,645
Exponent, Inc.		21,852		1,261,297
Forrester Research, Inc.		4,738		229,082
Franklin Covey Co. (a)		4,809		121,668
FTI Consulting, Inc. (a)		16,848		1,294,263
Heidrick & Struggles International, Inc.		7,257		278,161
Huron Consulting Group, Inc. (a)		10,356		489,010
ICF International, Inc.		7,485		569,459
Insperity, Inc.		16,476		2,037,422
Kelly Services, Inc. - Class A		14,944		329,665
Kforce, Inc.		9,613		337,609
Korn/Ferry International		23,667		1,059,808
Mistras Group, Inc. (a)		8,222		113,546
Navigant Consulting, Inc.		18,001		350,479
Resources Connection, Inc.		12,083		199,853
TriNet Group, Inc. (a)		19,326		1,154,535
TrueBlue, Inc. (a)		19,573		462,706
Upwork, Inc. (a)		4,762		91,145
WageWorks, Inc. (a)		18,480		697,805
Willdan Group, Inc. (a)		4,570		169,410
				13,575,836
Real Estate Management & Development—0.6%
Altisource Portfolio Solutions S.A. (a)		3,645		86,277
Cushman & Wakefield plc (a)		27,677		492,651
Essential Properties Realty Trust, Inc.		16,519		322,451
FRP Holdings, Inc. (a)		3,389		161,215
HFF, Inc. - Class A		15,545		742,274
Kennedy-Wilson Holdings, Inc. (b)		56,325		1,204,792
Marcus & Millichap, Inc. (a)		9,235		376,141
Newmark Group, Inc. - Class A		64,506		537,980
RE/MAX Holdings, Inc. - Class A		8,877		342,120
Redfin Corp. (a) (b)		34,295		695,160
RMR Group, Inc. (The) - Class A		3,481		212,271
St. Joe Co. (The) (a) (b)		13,592		224,132
Tejon Ranch Co. (a)		9,079		159,790
				5,557,254
Road & Rail—0.5%
ArcBest Corp.		10,451		321,786
Avis Budget Group, Inc. (a)		29,503		1,028,475
Covenant Transportation Group, Inc. - Class A (a)		5,776		109,628
Heartland Express, Inc.		22,410		432,065
Hertz Global Holdings, Inc. (a) (b)		26,814		465,759
Marten Transport, Ltd.		19,376		345,474

BHFTII-205

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Road & Rail—(Continued)
Saia, Inc. (a) (b)		11,835	$	723,119
Werner Enterprises, Inc. (b)		19,256		657,592
YRC Worldwide, Inc. (a)		16,074		107,535
				4,191,433
Semiconductors & Semiconductor Equipment—2.7%
Advanced Energy Industries, Inc. (a)		17,261		857,526
Ambarella, Inc. (a) (b)		14,056		607,219
Amkor Technology, Inc. (a)		46,149		394,112
Axcelis Technologies, Inc. (a)		13,934		280,352
Brooks Automation, Inc. (b)		29,420		862,889
Cabot Microelectronics Corp.		11,893		1,331,540
Ceva, Inc. (a) (b)		10,183		274,534
Cirrus Logic, Inc. (a)		26,378		1,109,722
Cohu, Inc.		17,431		257,107
Cree, Inc. (a) (b)		44,594		2,551,669
Diodes, Inc. (a)		18,315		635,530
Entegris, Inc. (b)		61,443		2,192,901
FormFactor, Inc. (a) (c)		31,702		510,085
Ichor Holdings, Ltd. (a)		7,325		165,398
Impinj, Inc. (a) (b)		8,561		143,440
Inphi Corp. (a)		19,424		849,606
Integrated Device Technology, Inc. (a) (b)		55,643		2,725,951
Lattice Semiconductor Corp. (a)		47,469		566,305
MACOM Technology Solutions Holdings, Inc. (a) (b)		18,984		317,223
MaxLinear, Inc. (a) (b)		26,699		681,625
Nanometrics, Inc. (a)		9,845		304,014
NeoPhotonics Corp. (a)		16,522		103,923
NVE Corp.		1,671		163,574
PDF Solutions, Inc. (a)		12,971		160,192
Photronics, Inc. (a)		30,362		286,921
Power Integrations, Inc.		11,988		838,441
Rambus, Inc. (a)		49,965		522,134
Rudolph Technologies, Inc. (a)		13,085		298,338
Semtech Corp. (a)		27,797		1,415,145
Silicon Laboratories, Inc. (a)		18,379		1,486,126
SMART Global Holdings, Inc. (a) (b)		4,560		87,552
SunPower Corp. (a) (b)		31,453		204,759
Synaptics, Inc. (a) (b)		14,825		589,294
Ultra Clean Holdings, Inc. (a) (b)		16,793		173,808
Veeco Instruments, Inc. (a)		22,250		241,190
Xperi Corp. (b)		19,629		459,319
				24,649,464
Software—5.9%
8x8, Inc. (a)		41,065		829,513
A10 Networks, Inc. (a)		21,727		154,044
ACI Worldwide, Inc. (a)		49,533		1,628,150
Agilysys, Inc. (a)		7,276		154,033
Alarm.com Holdings, Inc. (a) (b)		14,286		927,161
Altair Engineering, Inc. - Class A (a)		10,426		383,781
Alteryx, Inc. - Class A (a) (b)		12,993		1,089,723
American Software, Inc. - Class A		12,761		152,494
Anaplan, Inc. (a)		7,955		313,109
Appfolio, Inc. - Class A (a)		6,877		546,034
Avalara, Inc. (a)		12,062		672,939
Software—(Continued)
Avaya Holdings Corp. (a)		46,353		780,121
Benefitfocus, Inc. (a) (b)		11,849		586,762
Blackbaud, Inc. (b)		20,813		1,659,420
Blackline, Inc. (a) (b)		16,099		745,706
Bottomline Technologies de, Inc. (a) (b)		18,440		923,660
Box, Inc. - Class A (a)		53,384		1,030,845
Carbon Black, Inc. (a)		17,262		240,805
ChannelAdvisor Corp. (a)		10,403		126,709
Cision, Ltd. (a)		29,687		408,790
Cloudera, Inc. (a) (b)		86,010		940,949
CommVault Systems, Inc. (a)		17,956		1,162,471
Cornerstone OnDemand, Inc. (a)		24,008		1,315,158
Coupa Software, Inc. (a)		23,704		2,156,590
Digimarc Corp. (a) (b)		5,123		160,760
Domo, Inc. - Class B (a)		7,443		300,176
Ebix, Inc. (b)		10,806		533,492
Ellie Mae, Inc. (a) (b)		15,120		1,492,193
Envestnet, Inc. (a)		18,707		1,223,251
Everbridge, Inc. (a)		12,141		910,696
Five9, Inc. (a)		24,673		1,303,475
ForeScout Technologies, Inc. (a)		13,416		562,265
HubSpot, Inc. (a) (b)		16,070		2,670,995
Instructure, Inc. (a) (b)		14,481		682,345
j2 Global, Inc. (b)		19,963		1,728,796
LivePerson, Inc. (a)		24,337		706,260
MicroStrategy, Inc. - Class A (a) (b)		3,569		514,828
Mitek Systems, Inc. (a)		14,980		183,355
MobileIron, Inc. (a)		28,325		154,938
Model N, Inc. (a)		11,583		203,166
Monotype Imaging Holdings, Inc.		18,592		369,795
New Relic, Inc. (a)		19,122		1,887,341
OneSpan, Inc. (a)		15,031		288,896
Paylocity Holding Corp. (a)		12,189		1,087,137
Progress Software Corp.		18,551		823,108
PROS Holdings, Inc. (a) (b)		12,910		545,318
Q2 Holdings, Inc. (a)		16,765		1,161,144
QAD, Inc. - Class A		4,798		206,650
Qualys, Inc. (a)		14,838		1,227,696
Rapid7, Inc. (a)		16,703		845,339
SailPoint Technologies Holding, Inc. (a)		30,549		877,367
ShotSpotter, Inc. (a)		3,603		139,076
SPS Commerce, Inc. (a)		7,550		800,753
SVMK, Inc. (a)		8,200		149,322
Telaria, Inc. (a)		20,315		128,797
Tenable Holdings, Inc. (a)		13,097		414,651
TiVo Corp. (b)		54,357		506,607
Trade Desk, Inc. (The) - Class A (a) (b)		14,265		2,823,757
Upland Software, Inc. (a)		7,503		317,827
Varonis Systems, Inc. (a)		12,721		758,553
Verint Systems, Inc. (a)		27,089		1,621,548
VirnetX Holding Corp. (a) (b)		26,977		170,764
Workiva, Inc. (a)		12,561		636,843
Yext, Inc. (a)		37,385		817,236
Zix Corp. (a)		25,140		172,963
Zscaler, Inc. (a) (b)		26,496		1,879,361
				52,917,807

BHFTII-206

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Specialty Retail—2.9%
Aaron’s, Inc.		30,071	$	1,581,735
Abercrombie & Fitch Co. - Class A		28,497		781,103
America’s Car-Mart, Inc. (a)		2,826		258,127
American Eagle Outfitters, Inc.		68,438		1,517,270
Asbury Automotive Group, Inc. (a)		9,029		626,251
Ascena Retail Group, Inc. (a)		80,127		86,537
At Home Group, Inc. (a) (b)		19,716		352,128
Barnes & Noble, Inc. (b)		27,765		150,764
Bed Bath & Beyond, Inc. (b)		55,063		935,520
Boot Barn Holdings, Inc. (a)		12,612		371,297
Buckle, Inc. (The) (b)		14,188		265,599
Caleres, Inc.		17,181		424,199
Camping World Holdings, Inc. - Class A (b)		14,592		202,975
Carvana Co. (a) (b)		14,356		833,509
Cato Corp. (The) - Class A		9,562		143,239
Chico’s FAS, Inc.		59,471		253,941
Children’s Place, Inc. (The) (b)		7,101		690,785
Citi Trends, Inc.		4,579		88,420
Conn’s, Inc. (a)		10,289		235,207
Designer Brands, Inc.		31,615		702,485
Express, Inc. (a) (b)		34,677		148,418
Five Below, Inc. (a) (b)		23,446		2,913,166
GameStop Corp. - Class A (b)		46,271		470,113
Genesco, Inc. (a)		8,683		395,511
Group 1 Automotive, Inc. (b)		7,911		511,842
Guess?, Inc.		25,521		500,212
Haverty Furniture Cos., Inc. (b)		10,391		227,355
Hibbett Sports, Inc. (a)		10,209		232,867
Hudson, Ltd. - Class A (a)		18,056		248,270
Lithia Motors, Inc. - Class A (b)		9,344		866,656
Lumber Liquidators Holdings, Inc. (a) (b)		13,856		139,946
MarineMax, Inc. (a) (b)		8,107		155,330
Monro, Inc.		13,506		1,168,539
Murphy USA, Inc. (a)		12,944		1,108,265
National Vision Holdings, Inc. (a) (b)		27,759		872,465
Office Depot, Inc.		240,796		874,089
Party City Holdco, Inc. (a)		25,796		204,820
Rent-A-Center, Inc. (a)		21,277		444,051
RH (a) (b)		7,965		819,997
Sally Beauty Holdings, Inc. (a) (b)		51,377		945,851
Shoe Carnival, Inc. (b)		4,114		139,999
Signet Jewelers, Ltd. (b)		22,572		613,056
Sleep Number Corp. (a) (b)		14,171		666,037
Sonic Automotive, Inc. - Class A		9,480		140,399
Tailored Brands, Inc. (b)		22,434		175,883
Tile Shop Holdings, Inc. (b)		20,043		113,443
Tilly’s, Inc. - Class A		7,301		81,260
Winmark Corp.		1,140		214,993
Zumiez, Inc. (a)		10,452		260,150
				26,154,074
Technology Hardware, Storage & Peripherals—0.3%
3D Systems Corp. (a) (b)		50,283		541,045
Cray, Inc. (a)		19,290		502,505
Diebold Nixdorf, Inc. (b)		35,435		392,265
Electronics for Imaging, Inc. (a) (b)		18,879		507,845
Technology Hardware, Storage & Peripherals—(Continued)
Stratasys, Ltd. (a)		23,667		563,748
				2,507,408
Textiles, Apparel & Luxury Goods—0.8%
Crocs, Inc. (a) (c)		28,518		734,338
Deckers Outdoor Corp. (a)		12,597		1,851,633
Fossil Group, Inc. (a) (b)		20,656		283,400
G-III Apparel Group, Ltd. (a)		18,501		739,300
Movado Group, Inc.		7,984		290,458
Oxford Industries, Inc.		7,657		576,266
Steven Madden, Ltd. (b)		38,178		1,291,944
Unifi, Inc. (a)		7,892		152,710
Vera Bradley, Inc. (a)		10,480		138,860
Wolverine World Wide, Inc. (b)		39,246		1,402,260
				7,461,169
Thrifts & Mortgage Finance—2.2%
Axos Financial, Inc. (a) (b)		23,970		694,171
Bridgewater Bancshares, Inc. (a)		11,530		118,874
Capitol Federal Financial, Inc.		59,838		798,837
Columbia Financial, Inc. (a) (b)		20,912		327,691
Dime Community Bancshares, Inc.		15,501		290,334
Essent Group, Ltd. (a)		41,392		1,798,482
Federal Agricultural Mortgage Corp. - Class C		4,263		308,769
First Defiance Financial Corp.		10,076		289,584
Flagstar Bancorp, Inc.		12,717		418,644
Hingham Institution for Savings		716		123,159
Home Bancorp, Inc.		3,086		102,609
HomeStreet, Inc. (a)		12,382		326,266
Kearny Financial Corp.		41,863		538,777
LendingTree, Inc. (a) (b)		3,578		1,257,882
Merchants Bancorp		7,914		170,151
Meridian Bancorp, Inc.		23,292		365,451
Meta Financial Group, Inc.		12,654		249,031
MGIC Investment Corp. (a)		157,311		2,074,932
Mr Cooper Group, Inc. (a)		33,464		320,920
NMI Holdings, Inc. - Class A (a)		27,711		716,884
Northfield Bancorp, Inc.		19,366		269,187
Northwest Bancshares, Inc.		41,735		708,243
OceanFirst Financial Corp.		22,048		530,475
Ocwen Financial Corp. (a)		59,576		108,428
Oritani Financial Corp.		16,857		280,332
PCSB Financial Corp.		6,336		123,996
PennyMac Financial Services, Inc.		7,331		163,041
Provident Financial Services, Inc.		25,490		659,936
Radian Group, Inc.		93,977		1,949,083
Southern Missouri Bancorp, Inc.		3,592		110,634
TrustCo Bank Corp.		42,750		331,740
United Community Financial Corp.		24,319		227,383
United Financial Bancorp, Inc.		21,901		314,279
Walker & Dunlop, Inc.		12,545		638,666
Washington Federal, Inc.		34,447		995,174
Waterstone Financial, Inc.		10,900		179,414
Western New England Bancorp, Inc.		13,397		123,654
WSFS Financial Corp.		21,768		840,245
				19,845,358

BHFTII-207

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Tobacco—0.2%
22nd Century Group, Inc. (a) (b)		55,642	$	95,148
Pyxus International, Inc. (a) (b)		4,159		99,359
Turning Point Brands, Inc.		4,000		184,360
Universal Corp.		10,254		590,938
Vector Group, Ltd.		41,836		451,410
				1,421,215
Trading Companies & Distributors—1.2%
Aircastle, Ltd.		23,576		477,178
Applied Industrial Technologies, Inc.		16,061		955,148
Beacon Roofing Supply, Inc. (a) (b)		28,344		911,543
BMC Stock Holdings, Inc. (a)		31,129		550,049
CAI International, Inc. (a)		8,107		188,082
DXP Enterprises, Inc. (a)		6,978		271,584
GATX Corp. (b)		16,296		1,244,526
GMS, Inc. (a)		14,993		226,694
H&E Equipment Services, Inc.		15,412		386,995
Herc Holdings, Inc. (a)		11,071		431,548
Kaman Corp.		11,410		666,800
MRC Global, Inc. (a)		38,704		676,546
NOW, Inc. (a) (b)		51,271		715,743
Rush Enterprises, Inc. - Class A		12,945		541,231
SiteOne Landscape Supply, Inc. (a) (b)		17,769		1,015,498
Systemax, Inc.		5,954		134,799
Textainer Group Holdings, Ltd. (a)		11,532		111,284
Titan Machinery, Inc. (a)		9,306		144,801
Triton International, Ltd.		21,253		660,968
Veritiv Corp. (a)		5,727		150,735
				10,461,752
Water Utilities—0.5%
American States Water Co.		15,588		1,111,424
Artesian Resources Corp. - Class A		3,766		140,359
California Water Service Group		20,902		1,134,561
Connecticut Water Service, Inc.		4,908		336,934
Middlesex Water Co.		7,497		419,757
SJW Group		10,370		640,244
York Water Co. (The)		6,695		229,772
				4,013,051
Wireless Telecommunication Services—0.2%
Boingo Wireless, Inc. (a)		17,390		404,839
Gogo, Inc. (a) (b)		26,858		120,593
NII Holdings, Inc. (a)		41,560		81,458
Shenandoah Telecommunications Co.		20,059		889,817
Spok Holdings, Inc.		8,518		116,015
				1,612,722
Total Common Stocks (Cost $627,145,898)				872,303,344
Mutual Fund—2.7%
Security Description	Shares/ Principal Amount*		Value
Investment Company Security—2.7%
iShares Russell 2000 Index Fund (b) (Cost $22,351,947)		157,400		24,096,366
Rights—0.0%
Biotechnology—0.0%
Tobira Therapeutics, Inc., Expires 12/31/28 (a) (d) (e) (f)		4,660		37,093
Chemicals—0.0%
A. Schulman, Inc. (d)		12,704		5,501
Total Rights (Cost $5,780)				42,594
Short-Term Investments—0.7%
Discount Notes—0.1%
Fannie Mae 2.375%, 05/08/19 (g)		150,000		149,627
Federal Home Loan Bank
2.254%, 04/15/19 (g)		125,000		124,882
2.427%, 05/24/19 (g)		725,000		722,417
				996,926
U.S. Treasury—0.6%
U.S. Treasury Bills
2.182%, 04/09/19 (g)		275,000		274,854
2.322%, 04/18/19 (g)		625,000		624,294
2.382%, 05/30/19 (g)		2,150,000		2,141,711
2.432%, 06/20/19 (g)		2,200,000		2,188,442
				5,229,301
Total Short-Term Investments (Cost $6,225,862)				6,226,227
Securities Lending Reinvestments (h)—22.4%
Bank Note—0.2%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (i)		2,000,000		2,000,000
Certificates of Deposit—14.2%
ABN AMRO Bank NV Zero Coupon, 07/05/19		3,964,930		3,972,080
Bank of Nova Scotia 2.860%, SOFR + 0.430%, 05/16/19 (i)		3,000,000		2,999,998
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (i)		2,000,000		1,999,988
2.784%, 3M LIBOR + 0.050%, 11/06/19 (i)		1,000,000		1,000,000
2.790%, 1M LIBOR + 0.300%, 06/04/19 (i)		2,000,000		2,000,740
Canadian Imperial Bank of Commerce 2.752%, 1M LIBOR + 0.270%, 07/19/19 (i)		4,000,000		4,002,444

BHFTII-208

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (i)		5,000,000	$	5,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (i)		1,000,000		1,000,246
Cooperative Rabobank UA 2.933%, 3M LIBOR + 0.150%, 01/08/20 (i)		5,000,000		5,002,215
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (i)		3,000,000		3,000,156
Credit Industriel et Commercial 2.887%, 3M LIBOR + 0.090%, 10/15/19 (i)		3,000,000		3,001,089
Credit Suisse AG
2.620%, 04/01/19		5,000,000		5,000,070
2.860%, SOFR + 0.430%, 05/02/19 (i)		1,000,000		1,000,000
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (i)		3,000,000		2,999,731
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		4,000,000		4,000,336
KBC Bank NV Zero Coupon, 04/23/19		3,972,586		3,994,320
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 06/21/19		993,324		994,122
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		4,966,855		4,979,238
Mizuho Bank, Ltd., New York 2.789%, 1M LIBOR + 0.300%, 05/01/19 (i)		5,000,000		5,000,985
MUFG Bank Ltd. 2.789%, 1M LIBOR + 0.300%, 05/01/19 (i)		1,000,000		1,000,179
Nationwide Building Society Zero Coupon, 06/24/19		1,981,517		1,987,378
Natixis New York
2.788%, 3M LIBOR + 0.090%, 05/10/19 (i)		4,000,000		4,000,856
2.910%, SOFR + 0.480%, 06/12/19 (i)		1,000,000		1,000,000
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (i)		8,000,000		8,004,496
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (i)		4,000,000		4,000,264
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (i)		4,004,615		4,002,272
2.899%, 3M LIBOR + 0.160%, 05/07/19 (i)		3,000,000		3,000,756
Standard Chartered plc 2.660%, 08/23/19		6,000,000		6,001,068
Sumitomo Mitsui Banking Corp., New York 2.651%, 1M LIBOR + 0.170%, 08/07/19 (i)		2,000,035		2,000,352
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		3,962,268		3,985,520
2.904%, 3M LIBOR + 0.100%, 07/08/19 (i)		3,000,000		2,999,994
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (i)		2,000,000		2,002,266
2.851%, 3M LIBOR + 0.100%, 04/30/19 (i)		5,000,000		5,001,350
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (i)		7,000,000		7,003,598
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (i)		4,000,000		4,001,640
Wells Fargo Bank N.A. 2.975%, 3M LIBOR + 0.210%, 10/25/19 (i)		1,520,000		1,520,000
Certificates of Deposit—(Continued)
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (i)		5,000,000		4,999,971
				127,459,718
Commercial Paper—4.9%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (i)		4,000,000		4,000,052
Bank of China, Ltd. 2.890%, 04/17/19		4,963,875		4,992,895
Barton Capital S.A. 2.650%, 05/02/19		1,986,750		1,995,160
China Construction Bank Corp. 2.840%, 04/29/19		3,970,338		3,991,160
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (i)		2,000,000		2,000,000
Industrial & Commercial Bank of China, Corp. 2.920%, 04/15/19		3,969,502		3,994,976
ING Funding LLC
2.778%, 3M LIBOR + 0.040%, 11/04/19 (i)		4,000,000		4,000,556
2.807%, 3M LIBOR + 0.110%, 05/10/19 (i)		3,000,000		3,000,741
LMA S.A. & LMA Americas, Corp. 2.750%, 08/05/19		1,479,146		1,485,753
Matchpoint Finance plc 2.890%, 05/08/19		3,941,879		3,988,236
Sheffield Receivables Co. 2.850%, 06/24/19		986,779		993,616
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (i)		2,000,000		2,002,792
Toyota Motor Credit Corp. 2.620%, 08/29/19		2,961,355		2,967,345
Westpac Banking Corp.
2.766%, 1M LIBOR + 0.280%, 05/24/19 (i)		2,000,000		2,000,854
2.809%, 3M LIBOR + 0.070%, 08/07/19 (i)		3,000,000		3,001,188
				44,415,324
Repurchase Agreements—2.8%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $12,598,243; collateralized by various Common Stock with an aggregate market value of $13,753,449.		12,500,000		12,500,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $50,136; collateralized by various Common Stock with an aggregate market value of $55,000.		50,000		50,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $300,061; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $306,000.		300,000		300,000

BHFTII-209

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $300,070; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $306,000.		300,000	$	300,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $300,063; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $306,000.		300,000		300,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $1,000,229; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,589,104; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,620,546.		1,588,771		1,588,771
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $2,101,447; collateralized by various Common Stock with an aggregate market value of $2,200,001.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $3,526,960; collateralized by various Common Stock with an aggregate market value of $3,850,000.		3,500,000		3,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $403,170; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $428,542.		400,000		400,000
Societe Generale Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $1,642,503; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,779,523.		1,600,000		1,600,000
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $923,594; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,000,982.		900,000		900,000
				25,438,771
Time Deposits—0.3%
DZ Bank AG New York 2.430%, 04/01/19		1,000,000		1,000,000
Nordea Bank New York 2.350%, 04/01/19		1,000,000		1,000,000
Svenska, New York 2.360%, 04/01/19		1,000,000		1,000,000
				3,000,000
Total Securities Lending Reinvestments (Cost $202,282,820)				202,313,813
Total Investments—122.7% (Cost $858,012,307)				1,104,982,344
Other assets and liabilities (net)—(22.7)%				(204,383,486	)
Net Assets—100.0%			$	900,598,858

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $210,862,692 and the collateral received consisted of cash in the amount of $202,064,525 and non-cash collateral with a value of $14,402,875. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government and sovereign foreign government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2019, the market value of securities pledged was $3,211,733.
(d)	Illiquid security. As of March 31, 2019, these securities represent 0.0% of net assets.
(e)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent less than 0.05% 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 March 31, 2019.
(i)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

BHFTII-210

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
Russell 2000 Index E-Mini Futures		06/21/19		78		USD	6,020,820	$	(36,578	)

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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	9,292,416	$	—	$	—	$	9,292,416
Air Freight & Logistics		3,051,303		—		—		3,051,303
Airlines		4,153,039		—		—		4,153,039
Auto Components		8,412,479		—		—		8,412,479
Automobiles		466,222		—		—		466,222
Banks		76,821,015		—		—		76,821,015
Beverages		2,630,039		—		—		2,630,039
Biotechnology		57,658,832		—		—		57,658,832
Building Products		10,843,220		—		—		10,843,220
Capital Markets		11,144,238		—		—		11,144,238
Chemicals		17,486,356		—		—		17,486,356
Commercial Services & Supplies		21,796,286		—		—		21,796,286
Communications Equipment		14,655,536		—		—		14,655,536
Construction & Engineering		9,239,945		—		—		9,239,945
Construction Materials		1,113,138		—		—		1,113,138
Consumer Finance		5,714,797		—		—		5,714,797
Containers & Packaging		862,049		—		—		862,049
Distributors		924,178		—		—		924,178
Diversified Consumer Services		7,661,681		—		—		7,661,681
Diversified Financial Services		1,639,862		—		—		1,639,862
Diversified Telecommunication Services		4,818,375		—		—		4,818,375
Electric Utilities		10,574,599		—		—		10,574,599

BHFTII-211

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Electrical Equipment	$	6,175,478		$	—		$	—	$	6,175,478
Electronic Equipment, Instruments & Components		22,649,868			—			—		22,649,868
Energy Equipment & Services		11,912,351			—			—		11,912,351
Entertainment		4,480,718			—			—		4,480,718
Equity Real Estate Investment Trusts		60,981,460			—			—		60,981,460
Food & Staples Retailing		5,903,758			—			—		5,903,758
Food Products		10,030,937			—			—		10,030,937
Gas Utilities		10,315,667			—			—		10,315,667
Health Care Equipment & Supplies		32,209,423			—			—		32,209,423
Health Care Providers & Services		16,604,368			—			—		16,604,368
Health Care Technology		9,857,756			—			—		9,857,756
Hotels, Restaurants & Leisure		25,941,525			—			—		25,941,525
Household Durables		13,690,865			—			—		13,690,865
Household Products		1,529,719			—			—		1,529,719
Independent Power and Renewable Electricity Producers		3,046,668			—			—		3,046,668
Industrial Conglomerates		610,006			—			—		610,006
Insurance		22,983,792			—			—		22,983,792
Interactive Media & Services		4,119,604			—			—		4,119,604
Internet & Direct Marketing Retail		7,746,380			—			—		7,746,380
IT Services		18,612,864			—			—		18,612,864
Leisure Products		2,994,271			—			—		2,994,271
Life Sciences Tools & Services		5,397,539			—			—		5,397,539
Machinery		32,484,032			—			—		32,484,032
Marine		839,942			—			—		839,942
Media		13,497,054			—			—		13,497,054
Metals & Mining		10,132,422			—			—		10,132,422
Mortgage Real Estate Investment Trusts		10,180,383			—			—		10,180,383
Multi-Utilities		4,780,131			—			—		4,780,131
Multiline Retail		3,037,507			—			—		3,037,507
Oil, Gas & Consumable Fuels		20,163,217			—			—		20,163,217
Paper & Forest Products		3,863,009			—			—		3,863,009
Personal Products		2,859,292			—			—		2,859,292
Pharmaceuticals		17,343,190			—			—		17,343,190
Professional Services		13,575,836			—			—		13,575,836
Real Estate Management & Development		5,557,254			—			—		5,557,254
Road & Rail		4,191,433			—			—		4,191,433
Semiconductors & Semiconductor Equipment		24,649,464			—			—		24,649,464
Software		52,917,807			—			—		52,917,807
Specialty Retail		26,154,074			—			—		26,154,074
Technology Hardware, Storage & Peripherals		2,507,408			—			—		2,507,408
Textiles, Apparel & Luxury Goods		7,461,169			—			—		7,461,169
Thrifts & Mortgage Finance		19,845,358			—			—		19,845,358
Tobacco		1,421,215			—			—		1,421,215
Trading Companies & Distributors		10,461,752			—			—		10,461,752
Water Utilities		4,013,051			—			—		4,013,051
Wireless Telecommunication Services		1,612,722			—			—		1,612,722
Total Common Stocks		872,303,344			—			—		872,303,344
Total Mutual Fund*		24,096,366			—			—		24,096,366
Total Rights*		—			5,501			37,093		42,594
Total Short-Term Investments*		—			6,226,227			—		6,226,227
Total Securities Lending Reinvestments*		—			202,313,813			—		202,313,813
Total Investments	$	896,399,710		$	208,545,541		$	37,093	$	1,104,982,344
Collateral for Securities Loaned (Liability)	$	—		$	(202,064,525	)	$	—	$	(202,064,525	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(36,578	)	$	—		$	—	$	(36,578	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

BHFTII-212

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—98.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.5%
Arconic, Inc. (a)		122,093	$	2,333,197
Boeing Co. (The)		148,640		56,694,269
General Dynamics Corp.		76,646		12,974,635
Harris Corp. (a)		33,370		5,329,523
Huntington Ingalls Industries, Inc.		11,748		2,434,186
L3 Technologies, Inc.		22,437		4,630,324
Lockheed Martin Corp.		69,542		20,873,727
Northrop Grumman Corp.		48,017		12,945,383
Raytheon Co.		79,842		14,537,631
Textron, Inc.		66,387		3,363,165
TransDigm Group, Inc. (b)		13,767		6,250,080
United Technologies Corp.		229,306		29,555,250
				171,921,370
Air Freight & Logistics—0.6%
C.H. Robinson Worldwide, Inc. (a)		38,714		3,367,731
Expeditors International of Washington, Inc.		48,563		3,685,932
FedEx Corp. (a)		67,939		12,324,814
United Parcel Service, Inc. - Class B		196,887		22,000,153
				41,378,630
Airlines—0.4%
Alaska Air Group, Inc. (a)		34,828		1,954,547
American Airlines Group, Inc. (a)		113,058		3,590,722
Delta Air Lines, Inc. (a)		174,780		9,027,387
Southwest Airlines Co.		140,714		7,304,464
United Continental Holdings, Inc. (a) (b)		63,381		5,056,536
				26,933,656
Auto Components—0.1%
Aptiv plc (a)		73,560		5,847,284
BorgWarner, Inc. (a)		58,756		2,256,818
				8,104,102
Automobiles—0.4%
Ford Motor Co. (a)		1,105,440		9,705,763
General Motors Co.		370,813		13,757,162
Harley-Davidson, Inc.		45,133		1,609,443
				25,072,368
Banks—5.3%
Bank of America Corp.		2,541,080		70,108,397
BB&T Corp.		216,028		10,051,783
Citigroup, Inc.		665,217		41,389,802
Citizens Financial Group, Inc.		130,238		4,232,735
Comerica, Inc.		44,979		3,297,860
Fifth Third Bancorp (a)		217,753		5,491,731
First Republic Bank (a)		46,614		4,682,843
Huntington Bancshares, Inc. (a)		296,130		3,754,928
JPMorgan Chase & Co.		926,243		93,763,579
KeyCorp (a)		285,373		4,494,625
M&T Bank Corp. (a)		39,187		6,153,143
People’s United Financial, Inc. (a)		111,230		1,828,621
PNC Financial Services Group, Inc. (The)		128,321		15,739,854
Regions Financial Corp. (a)		287,900		4,073,785
Banks—(Continued)
SunTrust Banks, Inc. (a)		125,391		7,429,417
SVB Financial Group (a) (b)		14,889		3,310,718
U.S. Bancorp		425,628		20,511,013
Wells Fargo & Co.		1,158,278		55,967,993
Zions Bancorp N.A. (a)		52,662		2,391,381
				358,674,208
Beverages—1.8%
Brown-Forman Corp. - Class B (a)		47,042		2,482,877
Coca-Cola Co. (The)		1,088,497		51,006,969
Constellation Brands, Inc. - Class A (a)		47,114		8,260,498
Molson Coors Brewing Co. - Class B (a)		53,085		3,166,520
Monster Beverage Corp. (b)		110,627		6,038,022
PepsiCo, Inc.		397,368		48,697,448
				119,652,334
Biotechnology—2.3%
AbbVie, Inc.		417,283		33,628,837
Alexion Pharmaceuticals, Inc. (b)		63,217		8,545,674
Amgen, Inc.		176,035		33,443,129
Biogen, Inc. (b)		55,647		13,153,838
Celgene Corp. (a) (b)		198,688		18,744,226
Gilead Sciences, Inc.		360,826		23,457,298
Incyte Corp. (b)		50,257		4,322,605
Regeneron Pharmaceuticals, Inc. (a) (b)		22,172		9,104,267
Vertex Pharmaceuticals, Inc. (b)		72,322		13,303,632
				157,703,506
Building Products—0.3%
A.O. Smith Corp. (a)		40,114		2,138,878
Allegion plc (a)		26,721		2,423,862
Fortune Brands Home & Security, Inc.		39,759		1,892,926
Johnson Controls International plc		258,195		9,537,723
Masco Corp.		83,308		3,274,838
				19,268,227
Capital Markets—2.6%
Affiliated Managers Group, Inc.		14,724		1,577,088
Ameriprise Financial, Inc.		38,330		4,910,073
Bank of New York Mellon Corp. (The)		248,504		12,532,057
BlackRock, Inc.		34,423		14,711,357
Cboe Global Markets, Inc.		31,740		3,029,266
Charles Schwab Corp. (The)		335,582		14,349,486
CME Group, Inc.		101,210		16,657,142
E*Trade Financial Corp.		69,678		3,235,150
Franklin Resources, Inc. (a)		83,597		2,770,405
Goldman Sachs Group, Inc. (The)		96,887		18,601,335
Intercontinental Exchange, Inc.		160,821		12,244,911
Invesco, Ltd. (a)		112,326		2,169,015
Moody’s Corp.		47,008		8,512,679
Morgan Stanley		367,380		15,503,436
MSCI, Inc.		23,854		4,743,129
Nasdaq, Inc.		32,756		2,865,822
Northern Trust Corp.		61,786		5,586,072
Raymond James Financial, Inc.		35,908		2,887,362

BHFTII-213

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Capital Markets—(Continued)
S&P Global, Inc.		70,326	$	14,807,139
State Street Corp.		107,118		7,049,436
T. Rowe Price Group, Inc.		66,836		6,691,620
				175,433,980
Chemicals—1.9%
Air Products & Chemicals, Inc. (a)		62,131		11,864,536
Albemarle Corp. (a)		29,916		2,452,514
Celanese Corp. (a)		36,238		3,573,429
CF Industries Holdings, Inc.		63,053		2,577,607
DowDuPont, Inc.		637,844		34,003,463
Eastman Chemical Co.		39,541		3,000,371
Ecolab, Inc.		71,659		12,650,680
FMC Corp.		38,093		2,926,304
International Flavors & Fragrances, Inc. (a)		28,657		3,690,735
Linde plc		155,887		27,425,200
LyondellBasell Industries NV - Class A		86,096		7,238,952
Mosaic Co. (The)		100,321		2,739,766
PPG Industries, Inc.		66,733		7,532,154
Sherwin-Williams Co. (The)		23,082		9,941,648
				131,617,359
Commercial Services & Supplies—0.4%
Cintas Corp. (a)		23,955		4,841,545
Copart, Inc. (b)		56,809		3,442,057
Republic Services, Inc.		60,957		4,899,724
Rollins, Inc. (a)		41,694		1,735,304
Waste Management, Inc.		110,291		11,460,338
				26,378,968
Communications Equipment—1.2%
Arista Networks, Inc. (b)		14,782		4,648,348
Cisco Systems, Inc.		1,245,279		67,232,613
F5 Networks, Inc. (b)		16,815		2,638,778
Juniper Networks, Inc.		98,422		2,605,230
Motorola Solutions, Inc.		46,357		6,509,450
				83,634,419
Construction & Engineering—0.1%
Fluor Corp. (a)		39,484		1,453,011
Jacobs Engineering Group, Inc. (a)		33,152		2,492,699
Quanta Services, Inc. (a)		39,987		1,509,109
				5,454,819
Construction Materials—0.1%
Martin Marietta Materials, Inc. (a)		17,661		3,553,040
Vulcan Materials Co. (a)		37,293		4,415,491
				7,968,531
Consumer Finance—0.7%
American Express Co.		195,634		21,382,796
Capital One Financial Corp.		132,357		10,812,243
Discover Financial Services		92,896		6,610,479
Synchrony Financial		184,746		5,893,398
				44,698,916
Containers & Packaging—0.3%
Avery Dennison Corp.		23,757		2,684,541
Ball Corp. (a)		94,580		5,472,399
International Paper Co.		113,221		5,238,736
Packaging Corp. of America (a)		26,732		2,656,626
Sealed Air Corp. (a)		44,026		2,027,838
WestRock Co.		72,241		2,770,442
				20,850,582
Distributors—0.1%
Genuine Parts Co. (a)		41,286		4,625,271
LKQ Corp. (b)		89,045		2,527,097
				7,152,368
Diversified Consumer Services—0.0%
H&R Block, Inc. (a)		58,141		1,391,896
Diversified Financial Services—1.7%
Berkshire Hathaway, Inc. - Class B (a) (b)		550,091		110,507,781
Jefferies Financial Group, Inc. (a)		74,397		1,397,920
				111,905,701
Diversified Telecommunication Services—2.0%
AT&T, Inc. (a)		2,060,721		64,624,211
CenturyLink, Inc. (a)		269,020		3,225,550
Verizon Communications, Inc.		1,168,896		69,116,820
				136,966,581
Electric Utilities—2.0%
Alliant Energy Corp.		66,782		3,147,436
American Electric Power Co., Inc.		139,545		11,686,894
Duke Energy Corp.		205,662		18,509,580
Edison International (a)		92,167		5,706,981
Entergy Corp.		53,630		5,128,637
Evergy, Inc.		72,031		4,181,399
Eversource Energy (a)		89,670		6,362,086
Exelon Corp.		274,329		13,752,113
FirstEnergy Corp. (a)		142,474		5,928,343
NextEra Energy, Inc.		135,268		26,150,010
Pinnacle West Capital Corp. (a)		31,725		3,032,275
PPL Corp.		203,944		6,473,183
Southern Co. (The) (a)		292,665		15,124,927
Xcel Energy, Inc. (a)		145,463		8,176,475
				133,360,339
Electrical Equipment—0.5%
AMETEK, Inc.		64,252		5,330,989
Eaton Corp. plc		119,831		9,653,585
Emerson Electric Co.		173,868		11,904,742
Rockwell Automation, Inc. (a)		33,818		5,933,706
				32,823,022
Electronic Equipment, Instruments & Components—0.5%
Amphenol Corp. - Class A		84,325		7,963,653
Corning, Inc.		222,565		7,366,901

BHFTII-214

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electronic Equipment, Instruments & Components—(Continued)
FLIR Systems, Inc.		38,321	$	1,823,313
IPG Photonics Corp. (a) (b)		10,038		1,523,568
Keysight Technologies, Inc. (b)		53,111		4,631,279
TE Connectivity, Ltd.		95,857		7,740,453
				31,049,167
Energy Equipment & Services—0.5%
Baker Hughes a GE Co.		145,231		4,025,803
Halliburton Co.		246,831		7,232,148
Helmerich & Payne, Inc.		30,949		1,719,527
National Oilwell Varco, Inc. (a)		108,468		2,889,588
Schlumberger, Ltd.		392,074		17,082,664
TechnipFMC plc		120,361		2,830,891
				35,780,621
Entertainment—1.8%
Activision Blizzard, Inc.		216,079		9,838,077
Electronic Arts, Inc. (b)		84,752		8,613,346
Netflix, Inc. (b)		123,509		44,038,369
Take-Two Interactive Software, Inc. (b)		32,012		3,020,972
Viacom, Inc. - Class B		100,040		2,808,123
Walt Disney Co. (The)		494,001		54,848,891
				123,167,778
Equity Real Estate Investment Trusts—3.0%
Alexandria Real Estate Equities, Inc.		31,889		4,546,096
American Tower Corp.		124,792		24,591,511
Apartment Investment & Management Co. - Class A (a)		44,057		2,215,627
AvalonBay Communities, Inc.		39,183		7,865,204
Boston Properties, Inc. (a)		43,709		5,851,761
Crown Castle International Corp.		117,559		15,047,552
Digital Realty Trust, Inc. (a)		58,791		6,996,129
Duke Realty Corp.		101,625		3,107,692
Equinix, Inc.		23,570		10,680,981
Equity Residential		104,649		7,882,163
Essex Property Trust, Inc. (a)		18,584		5,375,236
Extra Space Storage, Inc. (a)		36,011		3,669,881
Federal Realty Investment Trust (a)		21,037		2,899,950
HCP, Inc.		135,155		4,230,351
Host Hotels & Resorts, Inc. (a)		209,470		3,958,983
Iron Mountain, Inc. (a)		81,009		2,872,579
Kimco Realty Corp. (a)		119,206		2,205,311
Macerich Co. (The) (a)		29,949		1,298,289
Mid-America Apartment Communities, Inc.		32,217		3,522,285
Prologis, Inc. (a)		178,318		12,829,980
Public Storage		42,453		9,245,414
Realty Income Corp. (a)		85,939		6,321,673
Regency Centers Corp.		47,385		3,198,014
SBA Communications Corp. (b)		31,850		6,359,171
Simon Property Group, Inc.		87,402		15,925,518
SL Green Realty Corp.		23,673		2,128,676
UDR, Inc.		77,966		3,544,334
Ventas, Inc. (a)		100,760		6,429,496
Vornado Realty Trust		49,049		3,307,865
Welltower, Inc.		109,296		8,481,370
Weyerhaeuser Co.		211,182		5,562,534
				202,151,626
Food & Staples Retailing—1.5%
Costco Wholesale Corp.		124,609		30,172,823
Kroger Co. (The) (a)		225,671		5,551,507
Sysco Corp.		133,632		8,921,272
Walgreens Boots Alliance, Inc. (a)		226,855		14,353,116
Walmart, Inc.		402,712		39,276,501
				98,275,219
Food Products—1.1%
Archer-Daniels-Midland Co.		158,442		6,833,603
Campbell Soup Co. (a)		54,500		2,078,085
Conagra Brands, Inc.		137,373		3,810,727
General Mills, Inc. (a)		168,812		8,736,021
Hershey Co. (The) (a)		39,330		4,516,264
Hormel Foods Corp. (a)		77,127		3,452,205
J.M. Smucker Co. (The)		32,181		3,749,087
Kellogg Co. (a)		71,017		4,074,955
Kraft Heinz Co. (The) (a)		175,931		5,744,147
Lamb Weston Holdings, Inc.		41,440		3,105,514
McCormick & Co., Inc.		34,683		5,224,300
Mondelez International, Inc. - Class A		408,537		20,394,167
Tyson Foods, Inc. - Class A		83,524		5,799,071
				77,518,146
Gas Utilities—0.1%
Atmos Energy Corp.		33,066		3,403,483
Health Care Equipment & Supplies—3.5%
Abbott Laboratories		496,845		39,717,789
ABIOMED, Inc. (b)		12,755		3,642,700
Align Technology, Inc. (b)		20,590		5,854,355
Baxter International, Inc.		134,841		10,963,922
Becton Dickinson & Co.		76,115		19,008,199
Boston Scientific Corp. (b)		392,071		15,047,685
Cooper Cos., Inc. (The)		13,958		4,133,941
Danaher Corp.		177,738		23,464,971
DENTSPLY SIRONA, Inc. (a)		62,956		3,121,988
Edwards Lifesciences Corp. (a) (b)		58,775		11,245,421
Hologic, Inc. (b)		75,754		3,666,494
IDEXX Laboratories, Inc. (a) (b)		24,330		5,440,188
Intuitive Surgical, Inc. (b)		32,388		18,479,945
Medtronic plc		379,395		34,555,296
ResMed, Inc.		40,538		4,214,736
Stryker Corp. (a)		87,501		17,283,197
Teleflex, Inc.		13,019		3,933,821
Varian Medical Systems, Inc. (b)		25,680		3,639,370
Zimmer Biomet Holdings, Inc.		57,832		7,385,146
				234,799,164
Health Care Providers & Services—2.7%
AmerisourceBergen Corp.		44,189		3,513,909
Anthem, Inc.		72,706		20,865,168
Cardinal Health, Inc.		84,305		4,059,286
Centene Corp. (b)		116,880		6,206,328
Cigna Corp. (b)		107,514		17,290,401
CVS Health Corp.		366,928		19,788,427
DaVita, Inc. (b)		35,775		1,942,225

BHFTII-215

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
HCA Healthcare, Inc.		75,546	$	9,849,687
Henry Schein, Inc. (a) (b)		42,830		2,574,511
Humana, Inc. (a)		38,350		10,201,100
Laboratory Corp. of America Holdings (b)		27,893		4,267,071
McKesson Corp.		54,265		6,352,261
Quest Diagnostics, Inc.		37,981		3,415,252
UnitedHealth Group, Inc.		271,442		67,116,749
Universal Health Services, Inc. - Class B		23,629		3,160,851
WellCare Health Plans, Inc. (b)		14,142		3,814,805
				184,418,031
Health Care Technology—0.1%
Cerner Corp. (a) (b)		91,757		5,249,418
Hotels, Restaurants & Leisure—1.8%
Carnival Corp.		113,270		5,745,054
Chipotle Mexican Grill, Inc. (b)		6,886		4,891,195
Darden Restaurants, Inc.		34,939		4,244,040
Hilton Worldwide Holdings, Inc.		82,842		6,884,999
Marriott International, Inc. - Class A (a)		79,753		9,976,303
McDonald’s Corp.		216,499		41,113,160
MGM Resorts International (a)		144,292		3,702,533
Norwegian Cruise Line Holdings, Ltd. (b)		61,570		3,383,887
Royal Caribbean Cruises, Ltd.		48,525		5,561,935
Starbucks Corp. (a)		351,799		26,152,738
Wynn Resorts, Ltd.		27,404		3,269,845
Yum! Brands, Inc.		86,681		8,651,631
				123,577,320
Household Durables—0.3%
DR Horton, Inc.		96,129		3,977,818
Garmin, Ltd.		34,301		2,961,892
Leggett & Platt, Inc. (a)		37,078		1,565,433
Lennar Corp. - Class A (a)		80,892		3,970,988
Mohawk Industries, Inc. (a) (b)		17,387		2,193,370
Newell Brands, Inc. (a)		110,036		1,687,952
PulteGroup, Inc. (a)		72,128		2,016,699
Whirlpool Corp.		17,998		2,391,754
				20,765,906
Household Products—1.7%
Church & Dwight Co., Inc. (a)		69,562		4,954,901
Clorox Co. (The) (a)		36,256		5,817,638
Colgate-Palmolive Co.		243,757		16,707,105
Kimberly-Clark Corp.		97,435		12,072,197
Procter & Gamble Co. (The)		707,666		73,632,647
				113,184,488
Independent Power and Renewable Electricity Producers—0.1%
AES Corp. (a)		187,355		3,387,379
NRG Energy, Inc. (a)		79,490		3,376,735
				6,764,114
Industrial Conglomerates—1.5%
3M Co.		162,887		33,844,661
General Electric Co.		2,462,560		24,600,974
Industrial Conglomerates—(Continued)
Honeywell International, Inc.		206,250		32,777,250
Roper Technologies, Inc.		29,310		10,023,141
				101,246,026
Insurance—2.3%
Aflac, Inc.		212,259		10,612,950
Allstate Corp. (The)		93,908		8,844,255
American International Group, Inc.		245,966		10,591,296
Aon plc		67,893		11,589,335
Arthur J. Gallagher & Co. (a)		52,068		4,066,511
Assurant, Inc. (a)		17,452		1,656,369
Brighthouse Financial, Inc. (b) (c)		33,004		1,197,715
Chubb, Ltd.		129,670		18,164,174
Cincinnati Financial Corp. (a)		42,866		3,682,189
Everest Re Group, Ltd.		11,507		2,485,052
Hartford Financial Services Group, Inc. (The)		101,689		5,055,977
Lincoln National Corp. (a)		57,792		3,392,390
Loews Corp.		77,495		3,714,335
Marsh & McLennan Cos., Inc.		142,889		13,417,277
MetLife, Inc. (a) (c)		270,800		11,527,956
Principal Financial Group, Inc. (a)		73,220		3,674,912
Progressive Corp. (The)		165,177		11,907,610
Prudential Financial, Inc.		115,701		10,630,608
Torchmark Corp. (a)		28,689		2,351,064
Travelers Cos., Inc. (The)		74,510		10,219,792
Unum Group		60,715		2,053,988
Willis Towers Watson plc (a)		36,521		6,414,914
				157,250,669
Interactive Media & Services—4.8%
Alphabet, Inc. - Class A (b)		84,686		99,666,107
Alphabet, Inc. - Class C (b) (d)		86,953		102,022,824
Facebook, Inc. - Class A (b)		674,838		112,488,746
TripAdvisor, Inc. (b)		29,073		1,495,806
Twitter, Inc. (b)		206,079		6,775,878
				322,449,361
Internet & Direct Marketing Retail—3.6%
Amazon.com, Inc. (b)		116,723		207,854,482
Booking Holdings, Inc. (b)		12,734		22,219,684
eBay, Inc.		243,279		9,035,382
Expedia Group, Inc.		33,075		3,935,925
				243,045,473
IT Services—5.1%
Accenture plc - Class A		180,327		31,741,158
Akamai Technologies, Inc. (b)		46,170		3,310,851
Alliance Data Systems Corp. (a)		12,894		2,256,192
Automatic Data Processing, Inc.		123,234		19,685,399
Broadridge Financial Solutions, Inc.		32,725		3,393,255
Cognizant Technology Solutions Corp. - Class A		162,688		11,786,746
DXC Technology Co.		75,890		4,880,486
Fidelity National Information Services, Inc.		91,350		10,331,685
Fiserv, Inc. (a) (b)		110,775		9,779,217
FleetCor Technologies, Inc. (a) (b)		24,288		5,989,178
Gartner, Inc. (a) (b)		25,378		3,849,335

BHFTII-216

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Global Payments, Inc. (a)		44,584	$	6,086,608
International Business Machines Corp. (a)		251,732		35,519,385
Jack Henry & Associates, Inc.		21,832		3,028,972
MasterCard, Inc. - Class A		255,355		60,123,335
Paychex, Inc. (a)		90,406		7,250,561
PayPal Holdings, Inc. (b)		331,886		34,463,042
Total System Services, Inc.		46,043		4,374,545
VeriSign, Inc. (b)		29,802		5,410,851
Visa, Inc. - Class A (a)		495,104		77,330,294
Western Union Co. (The) (a)		123,308		2,277,499
				342,868,594
Leisure Products—0.1%
Hasbro, Inc. (a)		32,751		2,784,490
Mattel, Inc. (b)		97,708		1,270,204
				4,054,694
Life Sciences Tools & Services—1.0%
Agilent Technologies, Inc.		89,849		7,222,063
Illumina, Inc. (a) (b)		41,585		12,920,044
IQVIA Holdings, Inc. (b)		44,764		6,439,301
Mettler-Toledo International, Inc. (b)		7,015		5,071,845
PerkinElmer, Inc. (a)		31,344		3,020,308
Thermo Fisher Scientific, Inc.		113,884		31,172,328
Waters Corp. (b)		20,230		5,092,093
				70,937,982
Machinery—1.6%
Caterpillar, Inc.		162,814		22,059,669
Cummins, Inc.		40,949		6,464,619
Deere & Co.		90,098		14,401,264
Dover Corp.		41,002		3,845,988
Flowserve Corp. (a)		37,053		1,672,572
Fortive Corp. (a)		83,303		6,988,289
Illinois Tool Works, Inc.		85,392		12,256,314
Ingersoll-Rand plc		68,506		7,395,223
PACCAR, Inc. (a)		98,082		6,683,307
Parker-Hannifin Corp.		36,596		6,280,605
Pentair plc		44,598		1,985,057
Snap-on, Inc. (a)		15,733		2,462,529
Stanley Black & Decker, Inc.		42,817		5,830,391
Wabtec Corp. (a)		39,508		2,912,530
Xylem, Inc. (a)		50,793		4,014,679
				105,253,036
Media—1.4%
CBS Corp. - Class B		98,353		4,674,718
Charter Communications, Inc. - Class A (a) (b)		49,088		17,029,118
Comcast Corp. - Class A		1,277,667		51,081,127
Discovery, Inc. - Class A (a) (b)		44,419		1,200,201
Discovery, Inc. - Class C (b)		101,964		2,591,925
DISH Network Corp. - Class A (a) (b)		64,908		2,056,935
Fox Corp. - Class A (b)		99,803		3,663,768
Fox Corp. - Class B (b)		45,930		1,647,969
Interpublic Group of Cos., Inc. (The)		108,887		2,287,716
News Corp. - Class A		109,003		1,355,997
Media—(Continued)
News Corp. - Class B		35,013		437,312
Omnicom Group, Inc. (a)		63,279		4,618,734
				92,645,520
Metals & Mining—0.2%
Freeport-McMoRan, Inc.		409,913		5,283,779
Newmont Mining Corp. (a)		150,682		5,389,895
Nucor Corp. (a)		86,388		5,040,740
				15,714,414
Multi-Utilities—1.1%
Ameren Corp.		69,205		5,090,028
CenterPoint Energy, Inc.		141,780		4,352,646
CMS Energy Corp.		80,170		4,452,642
Consolidated Edison, Inc.		90,828		7,703,123
Dominion Energy, Inc.		226,116		17,334,052
DTE Energy Co. (a)		51,464		6,419,619
NiSource, Inc. (a)		105,373		3,019,990
Public Service Enterprise Group, Inc. (a)		142,985		8,494,739
Sempra Energy (a)		77,522		9,756,919
WEC Energy Group, Inc. (a)		89,238		7,056,941
				73,680,699
Multiline Retail—0.5%
Dollar General Corp.		74,367		8,871,983
Dollar Tree, Inc. (b)		67,319		7,071,188
Kohl’s Corp.		46,712		3,212,384
Macy’s, Inc. (a)		86,987		2,090,298
Nordstrom, Inc. (a)		30,316		1,345,424
Target Corp. (a)		147,620		11,847,981
				34,439,258
Oil, Gas & Consumable Fuels—4.8%
Anadarko Petroleum Corp.		141,323		6,427,370
Apache Corp. (a)		106,197		3,680,788
Cabot Oil & Gas Corp.		119,765		3,125,867
Chevron Corp.		537,504		66,209,743
Cimarex Energy Co. (a)		28,700		2,006,130
Concho Resources, Inc. (a)		56,745		6,296,425
ConocoPhillips		320,908		21,417,400
Devon Energy Corp. (a)		123,989		3,913,093
Diamondback Energy, Inc.		43,711		4,437,978
EOG Resources, Inc.		164,090		15,618,086
Exxon Mobil Corp.		1,198,595		96,846,476
Hess Corp. (a)		72,008		4,337,042
HollyFrontier Corp.		44,442		2,189,657
Kinder Morgan, Inc. (a)		550,710		11,019,707
Marathon Oil Corp.		231,544		3,869,100
Marathon Petroleum Corp.		190,558		11,404,896
Noble Energy, Inc. (a)		136,799		3,383,039
Occidental Petroleum Corp.		212,037		14,036,850
ONEOK, Inc.		116,439		8,132,100
Phillips 66 (a)		118,677		11,294,490
Pioneer Natural Resources Co.		47,630		7,253,096
Valero Energy Corp. (a)		118,138		10,021,647
Williams Cos., Inc. (The) (a)		342,571		9,838,639
				326,759,619

BHFTII-217

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Personal Products—0.2%
Coty, Inc. - Class A (a)		127,512	$	1,466,388
Estee Lauder Cos., Inc. (The) - Class A		61,742		10,221,388
				11,687,776
Pharmaceuticals—4.7%
Allergan plc		88,447		12,949,525
Bristol-Myers Squibb Co. (a)		461,863		22,035,484
Eli Lilly & Co.		244,322		31,703,223
Johnson & Johnson		753,369		105,313,453
Merck & Co., Inc.		730,195		60,730,318
Mylan NV (b)		145,865		4,133,814
Nektar Therapeutics (a) (b)		49,251		1,654,834
Perrigo Co. plc (a)		35,361		1,702,986
Pfizer, Inc.		1,570,537		66,700,706
Zoetis, Inc.		135,438		13,634,543
				320,558,886
Professional Services—0.3%
Equifax, Inc.		34,144		4,046,064
IHS Markit, Ltd. (a) (b)		102,818		5,591,243
Nielsen Holdings plc (a)		100,551		2,380,042
Robert Half International, Inc. (a)		33,685		2,194,915
Verisk Analytics, Inc. (a)		46,255		6,151,915
				20,364,179
Real Estate Management & Development—0.1%
CBRE Group, Inc. - Class A (b)		88,353		4,369,056
Road & Rail—1.0%
CSX Corp. (a)		219,195		16,400,170
J.B. Hunt Transport Services, Inc. (a)		24,609		2,492,646
Kansas City Southern		28,555		3,311,809
Norfolk Southern Corp. (a)		75,660		14,140,097
Union Pacific Corp.		204,493		34,191,229
				70,535,951
Semiconductors & Semiconductor Equipment—3.8%
Advanced Micro Devices, Inc. (a) (b)		249,227		6,360,273
Analog Devices, Inc.		104,191		10,968,187
Applied Materials, Inc.		268,571		10,651,526
Broadcom, Inc.		112,053		33,695,458
Intel Corp.		1,272,146		68,314,240
KLA-Tencor Corp.		46,734		5,580,507
Lam Research Corp. (a)		43,167		7,727,325
Maxim Integrated Products, Inc. (a)		77,340		4,112,168
Microchip Technology, Inc. (a)		67,035		5,561,224
Micron Technology, Inc. (a) (b)		317,130		13,106,983
NVIDIA Corp.		171,430		30,781,971
Qorvo, Inc. (a) (b)		34,735		2,491,541
QUALCOMM, Inc.		342,380		19,525,931
Skyworks Solutions, Inc. (a)		49,240		4,061,315
Texas Instruments, Inc.		265,486		28,160,100
Xilinx, Inc.		71,617		9,080,319
				260,179,068
Software—6.3%
Adobe, Inc. (b)		137,972		36,768,158
ANSYS, Inc. (a) (b)		23,698		4,329,862
Autodesk, Inc. (b)		61,955		9,653,828
Cadence Design Systems, Inc. (b)		79,317		5,037,423
Citrix Systems, Inc. (a)		35,400		3,527,964
Fortinet, Inc. (b)		41,029		3,445,205
Intuit, Inc.		73,289		19,158,477
Microsoft Corp.		2,170,375		255,974,028
Oracle Corp.		720,835		38,716,048
Red Hat, Inc. (b)		50,003		9,135,548
Salesforce.com, Inc. (b)		216,409		34,272,693
Symantec Corp.		180,826		4,157,190
Synopsys, Inc. (b)		42,341		4,875,566
				429,051,990
Specialty Retail—2.4%
Advance Auto Parts, Inc. (a)		20,275		3,457,496
AutoZone, Inc. (b)		7,061		7,231,311
Best Buy Co., Inc.		66,229		4,706,233
CarMax, Inc. (a) (b)		48,115		3,358,427
Foot Locker, Inc.		31,935		1,935,261
Gap, Inc. (The) (a)		60,425		1,581,926
Home Depot, Inc. (The)		319,530		61,314,612
L Brands, Inc. (a)		64,598		1,781,613
Lowe’s Cos., Inc.		226,593		24,805,136
O’Reilly Automotive, Inc. (b)		22,172		8,609,388
Ross Stores, Inc.		104,835		9,760,138
Tiffany & Co. (a)		30,690		3,239,329
TJX Cos., Inc. (The)		350,081		18,627,810
Tractor Supply Co.		34,308		3,353,950
Ulta Salon Cosmetics & Fragrance, Inc. (b)		15,940		5,558,756
				159,321,386
Technology Hardware, Storage & Peripherals—4.0%
Apple, Inc.		1,267,200		240,704,640
Hewlett Packard Enterprise Co.		389,525		6,010,371
HP, Inc.		433,808		8,428,890
NetApp, Inc. (a)		69,866		4,844,508
Seagate Technology plc (a)		72,527		3,473,318
Western Digital Corp. (a)		82,278		3,954,281
Xerox Corp.		56,538		1,808,085
				269,224,093
Textiles, Apparel & Luxury Goods—0.8%
Capri Holdings, Ltd. (b)		43,176		1,975,302
Hanesbrands, Inc.		102,242		1,828,087
NIKE, Inc. - Class B		356,091		29,986,423
PVH Corp.		21,424		2,612,657
Ralph Lauren Corp. (a)		14,920		1,934,826
Tapestry, Inc.		82,031		2,665,187
Under Armour, Inc. - Class A (a) (b)		53,123		1,123,020
Under Armour, Inc. - Class C (b)		54,466		1,027,773
VF Corp.		91,767		7,975,470
				51,128,745

BHFTII-218

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Tobacco—1.0%
Altria Group, Inc.		530,253	$	30,452,430
Philip Morris International, Inc.		439,755		38,869,944
				69,322,374
Trading Companies & Distributors—0.2%
Fastenal Co. (a)		80,950		5,205,894
United Rentals, Inc. (b)		22,515		2,572,339
WW Grainger, Inc.		12,758		3,839,265
				11,617,498
Water Utilities—0.1%
American Water Works Co., Inc. (a)		51,132		5,331,022
Total Common Stocks (Cost $3,167,267,694)				6,681,487,732
Mutual Fund—0.6%
Investment Company Security—0.6%
SPDR S&P 500 ETF Trust (a) (Cost $42,203,685)		151,000		42,654,480
Short-Term Investments—0.4%
Discount Notes—0.3%
Federal Home Loan Bank
2.155%, 04/09/19 (e)		2,350,000		2,348,736
2.273%, 04/15/19 (e)		7,000,000		6,993,412
2.404%, 05/17/19 (e)		2,450,000		2,442,424
2.407%, 05/24/19 (e)		1,775,000		1,768,676
2.437%, 06/05/19 (e)		6,400,000		6,372,036
				19,925,284
U.S. Treasury—0.1%
U.S. Treasury Bills
2.182%, 04/09/19 (e)		750,000		749,602
2.322%, 04/18/19 (e)		1,625,000		1,623,163
2.370%, 05/30/19 (e)		3,575,000		3,561,217
2.432%, 06/20/19 (e)		2,450,000		2,437,129
				8,371,111
Total Short-Term Investments (Cost $28,295,996)				28,296,395
Securities Lending Reinvestments (f)—11.4%
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (g)		5,000,000		5,000,000
Certificates of Deposit—7.3%
ABN AMRO Bank NV Zero Coupon, 07/05/19		9,912,326		9,930,200
Banco Santander S.A. 2.790%, 04/16/19		7,000,000		7,001,197
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (g)		10,000,000		10,009,660
Bank of Nova Scotia
2.860%, SOFR + 0.430%, 05/16/19 (g)		5,000,000		4,999,997
2.967%, 3M LIBOR + 0.170%, 01/09/20 (g)		9,000,000		9,000,504
Barclays Bank plc 2.950%, 08/02/19		18,000,000		18,004,860
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (g)		7,000,000		6,999,958
2.784%, 3M LIBOR + 0.050%, 11/06/19 (g)		7,000,000		7,000,000
Canadian Imperial Bank of Commerce 2.734%, 1M LIBOR + 0.250%, 10/15/19 (g)		15,000,000		15,012,300
Chiba Bank, Ltd.
2.580%, 06/03/19		2,000,000		1,999,874
2.620%, 06/04/19		15,000,000		15,000,015
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (g)		12,000,000		12,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (g)		4,000,000		4,000,984
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (g)		10,000,000		10,004,430
2.995%, 3M LIBOR + 0.200%, 04/05/19 (g)		10,000,000		10,000,670
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (g)		15,000,000		15,000,780
Credit Industriel et Commercial Zero Coupon, 08/01/19		6,897,911		6,937,070
2.887%, 3M LIBOR + 0.090%, 10/15/19 (g)		5,000,000		5,001,815
Credit Suisse AG
2.620%, 04/01/19		10,000,000		10,000,140
2.860%, SOFR + 0.430%, 05/02/19 (g)		7,000,000		7,000,000
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (g)		5,000,000		4,999,551
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		12,000,000		12,001,008
KBC Bank NV Zero Coupon, 04/23/19		9,931,465		9,985,800
Mitsubishi UFJ Trust and Banking Corp.
Zero Coupon, 04/16/19		4,965,490		4,993,900
Zero Coupon, 05/08/19		1,986,147		1,994,420
Zero Coupon, 05/08/19		1,986,642		1,994,420
Zero Coupon, 06/13/19		4,966,871		4,973,713
2.643%, 1M LIBOR + 0.150%, 09/11/19 (g)		10,000,000		9,999,980
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		9,933,709		9,958,477
Mizuho Bank, Ltd., New York
2.652%, 1M LIBOR + 0.160%, 09/12/19 (g)		15,000,000		15,000,000
2.789%, 1M LIBOR + 0.300%, 05/01/19 (g)		12,000,000		12,002,364
2.863%, 3M LIBOR + 0.080%, 07/09/19 (g)		3,000,000		2,999,735
2.908%, 04/03/19		10,015,934		9,999,126
MUFG Bank Ltd. 2.789%, 1M LIBOR + 0.300%, 05/01/19 (g)	5,000,000		5,000,895
2.800%, 07/16/19		5,000,000		5,003,090

BHFTII-219

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Nationwide Building Society Zero Coupon, 06/24/19		7,926,070	$	7,949,511
Natixis New York
2.788%, 3M LIBOR + 0.090%, 05/10/19 (g)		5,000,000		5,001,070
2.803%, 3M LIBOR + 0.070%, 11/01/19 (g)		3,000,000		2,999,991
Nordea Bank New York 2.995%, 3M LIBOR + 0.200%, 04/05/19 (g)		10,000,000		10,004,335
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (g)		15,000,000		15,008,430
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (g)		10,000,000		10,000,660
Societe Generale
2.863%, 3M LIBOR + 0.080%, 07/09/19 (g)		3,000,000		3,000,243
2.863%, 3M LIBOR + 0.200%, 08/21/19 (g)		7,008,077		7,003,976
2.899%, 3M LIBOR + 0.160%, 05/07/19 (g)		5,000,000		5,001,260
Standard Chartered plc
2.660%, 08/23/19		15,000,000		15,002,670
3.009%, 3M LIBOR + 0.230%, 04/24/19 (g)		3,000,000		3,000,372
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (g)		15,000,000		15,000,570
Sumitomo Mitsui Banking Corp., New York
2.651%, 1M LIBOR + 0.170%, 08/07/19 (g)		6,000,106		6,001,056
2.692%, 1M LIBOR + 0.210%, 05/17/19 (g)		6,000,000		6,000,936
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		7,924,536		7,971,040
Zero Coupon, 08/06/19		1,972,675		1,981,320
Zero Coupon, 08/08/19		2,959,087		2,970,841
2.600%, 07/05/19		10,000,000		10,000,510
2.904%, 3M LIBOR + 0.100%, 07/08/19 (g)		5,000,000		4,999,990
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (g)		5,000,000		5,005,665
2.851%, 3M LIBOR + 0.100%, 04/30/19 (g)		15,000,000		15,004,050
2.940%, 1M LIBOR + 0.450%, 04/03/19 (g)		7,000,000		7,000,385
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (g)		5,000,000		5,002,570
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (g)		10,000,000		10,004,100
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (g)		15,000,000		14,999,914
				491,726,398
Commercial Paper—2.6%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (g)		5,000,000		5,000,065
Bank of China, Ltd.
2.890%, 04/17/19		19,855,500		19,971,580
2.890%, 04/18/19		4,965,481		4,992,510
Barton Capital S.A. 2.650%, 05/02/19		4,966,875		4,987,900
China Construction Bank Corp. 2.840%, 04/29/19		7,940,676		7,982,320
Fairway Finance Corp. 2.600%, 05/07/19		3,973,422		3,988,892
First Abu Dhabi Bank 2.750%, 04/16/19		4,965,625		4,993,715
Commercial Paper—(Continued)
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (g)		15,000,000		15,000,000
Industrial & Commercial Bank of China, Corp.
2.880%, 04/18/19		14,892,000		14,977,815
2.920%, 04/15/19		9,923,756		9,987,440
ING Funding LLC
2.778%, 3M LIBOR + 0.040%, 11/04/19 (g)		12,000,000		12,001,668
2.807%, 3M LIBOR + 0.110%, 05/10/19 (g)		10,000,000		10,002,470
Kells Funding LLC 2.610%, 04/10/19		9,869,500		9,991,550
Matchpoint Finance plc 2.450%, 04/01/19		4,998,979		4,998,905
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (g)		15,000,000		15,000,000
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (g)		10,000,000		10,013,960
Toyota Motor Credit Corp. 2.620%, 08/29/19		11,845,420		11,869,380
Westpac Banking Corp. 2.809%, 3M LIBOR + 0.070%, 08/07/19 (g)		7,500,000		7,502,970
				173,263,140
Repurchase Agreements—1.0%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $22,676,838; collateralized by various Common Stock with an aggregate market value of $24,756,209.		22,500,000		22,500,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $18,049,000; collateralized by various Common Stock with an aggregate market value of $19,800,003.		18,000,000		18,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $612,782; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $624,906.		612,653		612,653
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $12,608,683; collateralized by various Common Stock with an aggregate market value of $13,200,008.		12,000,000		12,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $11,185,501; collateralized by various Common Stock with an aggregate market value of $12,210,000.		11,100,000		11,100,000

BHFTII-220

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $4,233,282; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $4,499,694.		4,200,000	$	4,200,000
				69,412,653
Time Deposits—0.4%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		10,000,000		10,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		10,000,000		10,000,000
				26,000,000
Total Securities Lending Reinvestments (Cost $765,304,337)				765,402,191
Total Investments—111.3% (Cost $4,003,071,712)				7,517,840,798
Other assets and liabilities (net)—(11.3)%				(761,454,649	)
Net Assets—100.0%			$	6,756,386,149

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $746,992,842 and the collateral received consisted of cash in the amount of $764,496,930 and non-cash collateral with a value of $3,752,671. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)	Non-income producing security.
(c)	Affiliated Issuer.
(d)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2019, the market value of securities pledged was $23,530,732.
(e)	The rate shown represents current yield to maturity.
(f)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(g)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation
S&P 500 Index E-Mini Futures		06/21/19		210		USD	29,796,900	$	510,784

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-221

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	6,681,487,732	$	—		$	—	$	6,681,487,732
Total Mutual Fund*		42,654,480		—			—		42,654,480
Total Short-Term Investments*		—		28,296,395			—		28,296,395
Total Securities Lending Reinvestments*		—		765,402,191			—		765,402,191
Total Investments	$	6,724,142,212	$	793,698,586		$	—	$	7,517,840,798
Collateral for Securities Loaned (Liability)	$	—	$	(764,496,930	)	$	—	$	(764,496,930	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	510,784	$	—		$	—	$	510,784

* See Schedule of Investments for additional detailed categorizations.

BHFTII-222

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—59.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.0%
Boeing Co. (The)		11,840	$	4,516,013
Harris Corp. (a)		6,253		998,667
Lockheed Martin Corp.		8,433		2,531,249
Northrop Grumman Corp.		9,609		2,590,586
United Technologies Corp.		37,066		4,777,437
				15,413,952
Air Freight & Logistics—0.3%
United Parcel Service, Inc. - Class B		17,410		1,945,393
Airlines—0.1%
Delta Air Lines, Inc.		21,363		1,103,399
Auto Components—0.7%
Aptiv plc (a)		28,037		2,228,661
Lear Corp.		22,080		2,996,477
				5,225,138
Automobiles—0.1%
Harley-Davidson, Inc.		5,031		179,405
Toyota Motor Corp.		13,100		768,387
				947,792
Banks—5.9%
Bank of America Corp.		254,529		7,022,455
BB&T Corp.		38,067		1,771,257
BNP Paribas S.A.		8,560		410,259
Citigroup, Inc.		128,498		7,995,146
JPMorgan Chase & Co.		133,359		13,499,932
PNC Financial Services Group, Inc. (The)		32,997		4,047,412
Sumitomo Mitsui Financial Group, Inc.		11,000		384,927
SunTrust Banks, Inc. (a)		14,482		858,058
U.S. Bancorp (a)		104,551		5,038,313
Wells Fargo & Co.		80,020		3,866,566
Westpac Banking Corp.		38,951		716,316
				45,610,641
Beverages—0.9%
Coca-Cola European Partners plc		18,916		978,714
Diageo plc		85,119		3,481,531
Molson Coors Brewing Co. - Class B		27,563		1,644,133
PepsiCo, Inc.		6,984		855,889
				6,960,267
Biotechnology—0.2%
Biogen, Inc. (b)		5,045		1,192,537
Building Products—0.7%
Johnson Controls International plc		135,573		5,008,067
Capital Markets—3.1%
Apollo Global Management LLC - Class A		25,280		714,160
Bank of New York Mellon Corp. (The)		93,207		4,700,429
BlackRock, Inc.		6,428		2,747,134
Blackstone Group L.P. (The)		41,373		1,446,814
Capital Markets—(Continued)
Charles Schwab Corp. (The)		18,605		795,550
Goldman Sachs Group, Inc. (The)		23,823		4,573,778
Invesco, Ltd. (a)		22,168		428,064
Moody’s Corp.		6,970		1,262,197
Morgan Stanley		36,818		1,553,720
Nasdaq, Inc. (a)		19,735		1,726,615
State Street Corp.		39,547		2,602,588
T. Rowe Price Group, Inc.		17,815		1,783,638
				24,334,687
Chemicals—2.1%
Akzo Nobel NV		8,605		763,254
Axalta Coating Systems, Ltd. (a) (b)		44,570		1,123,610
Celanese Corp.		13,313		1,312,795
CF Industries Holdings, Inc.		60,466		2,471,850
Dow, Inc. (b)		7,597		392,233
DowDuPont, Inc. (b)		27,713		999,608
Methanex Corp.		6,892		391,879
PPG Industries, Inc.		51,952		5,863,822
Sherwin-Williams Co. (The)		6,460		2,782,387
				16,101,438
Commercial Services & Supplies—0.1%
Transcontinental, Inc. - Class A		38,515		482,176
Communications Equipment—0.8%
Cisco Systems, Inc.		108,199		5,841,664
Consumer Finance—0.2%
American Express Co.		10,729		1,172,679
Synchrony Financial		20,323		648,304
				1,820,983
Containers & Packaging—0.1%
Crown Holdings, Inc. (a) (b)		14,721		803,325
Diversified Financial Services—0.2%
ORIX Corp.		118,800		1,710,100
Diversified Telecommunication Services—0.4%
Verizon Communications, Inc.		53,369		3,155,709
Electric Utilities—1.9%
Duke Energy Corp. (a)		41,321		3,718,890
Exelon Corp.		89,168		4,469,992
FirstEnergy Corp. (a)		28,972		1,205,525
Southern Co. (The)		66,386		3,430,828
SSE plc		82,005		1,270,669
Xcel Energy, Inc.		13,564		762,432
				14,858,336
Electrical Equipment—0.9%
Eaton Corp. plc		78,872		6,353,928
Regal-Beloit Corp. (a)		5,091		416,800

BHFTII-223

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electrical Equipment—(Continued)
Schneider Electric SE		5,160	$	405,803
				7,176,531
Energy Equipment & Services—0.3%
Schlumberger, Ltd.		57,375		2,499,829
Entertainment—0.1%
Electronic Arts, Inc. (b)		8,698		883,978
Equity Real Estate Investment Trusts—1.3%
EPR Properties (a)		13,378		1,028,768
Life Storage, Inc.		8,309		808,216
Medical Properties Trust, Inc. (a)		191,722		3,548,774
Public Storage		2,811		612,180
Simon Property Group, Inc.		7,018		1,278,750
STORE Capital Corp.		73,406		2,459,101
				9,735,789
Food & Staples Retailing—0.5%
U.S. Foods Holding Corp. (a) (b)		23,254		811,797
Walgreens Boots Alliance, Inc. (a)		45,372		2,870,687
				3,682,484
Food Products—1.9%
Archer-Daniels-Midland Co.		44,816		1,932,914
Danone S.A.		20,561		1,585,949
General Mills, Inc. (a)		62,683		3,243,845
J.M. Smucker Co. (The)		5,723		666,729
Mondelez International, Inc. - Class A		20,492		1,022,961
Mowi ASA		64,848		1,448,826
Nestle S.A.		42,647		4,070,095
Tyson Foods, Inc. - Class A		11,606		805,805
				14,777,124
Health Care Equipment & Supplies—2.6%
Abbott Laboratories		63,768		5,097,614
Danaher Corp.		56,017		7,395,364
Medtronic plc		72,181		6,574,246
Zimmer Biomet Holdings, Inc.		10,970		1,400,869
				20,468,093
Health Care Providers & Services—1.6%
AmerisourceBergen Corp. (a)		13,169		1,047,199
Cigna Corp.		22,836		3,672,486
CVS Health Corp.		8,625		465,146
HCA Healthcare, Inc.		20,314		2,648,539
Humana, Inc. (a)		10,942		2,910,572
McKesson Corp.		14,449		1,691,400
				12,435,342
Hotels, Restaurants & Leisure—0.7%
Aramark		30,196		892,292
Marriott International, Inc. - Class A (a)		6,134		767,302
Hotels, Restaurants & Leisure—(Continued)
Starbucks Corp. (a)		51,205		3,806,579
				5,466,173
Household Durables—0.2%
Whirlpool Corp.		12,476		1,657,936
Household Products—0.7%
Colgate-Palmolive Co.		4,840		331,734
Kimberly-Clark Corp.		25,824		3,199,594
Procter & Gamble Co. (The)		3,167		329,526
Reckitt Benckiser Group plc		17,926		1,493,731
				5,354,585
Industrial Conglomerates—1.3%
3M Co.		15,932		3,310,351
Honeywell International, Inc.		44,541		7,078,456
				10,388,807
Insurance—3.6%
Aon plc		34,852		5,949,236
Chubb, Ltd.		46,036		6,448,723
Prudential Financial, Inc.		44,521		4,090,590
Tokio Marine Holdings, Inc.		8,700		421,870
Travelers Cos., Inc. (The)		58,168		7,978,323
Unum Group		23,107		781,710
Zurich Insurance Group AG		6,252		2,071,416
				27,741,868
Interactive Media & Services—0.3%
Alphabet, Inc. - Class A (b)		1,948		2,292,582
Internet & Direct Marketing Retail—0.6%
Amazon.com, Inc. (b)		2,519		4,485,709
IT Services — 2.7%
Accenture plc - Class A		43,388		7,637,156
Amdocs, Ltd.		30,629		1,657,335
Cognizant Technology Solutions Corp. - Class A		11,148		807,673
DXC Technology Co.		60,193		3,871,012
Fidelity National Information Services, Inc.		17,186		1,943,737
Fiserv, Inc. (a) (b)		23,411		2,066,723
Visa, Inc. - Class A (a)		9,250		1,444,757
Worldpay, Inc. - Class A (b)		11,785		1,337,597
				20,765,990
Leisure Products—0.1%
Brunswick Corp.		10,472		527,056
Life Sciences Tools & Services—0.9%
Thermo Fisher Scientific, Inc.		25,899		7,089,074
Machinery—1.4%
AGCO Corp. (a)		16,112		1,120,590
Allison Transmission Holdings, Inc.		6,315		283,670
Deere & Co.		6,905		1,103,695

BHFTII-224

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Machinery—(Continued)
Illinois Tool Works, Inc.		29,744	$	4,269,156
Ingersoll-Rand plc		14,122		1,524,470
Stanley Black & Decker, Inc.		18,237		2,483,332
				10,784,913
Media—1.9%
Comcast Corp. - Class A		302,225		12,082,956
Omnicom Group, Inc. (a)		35,681		2,604,356
				14,687,312
Metals & Mining—0.3%
Rio Tinto plc		34,248		1,992,591
Mortgage Real Estate Investment Trusts—0.1%
Annaly Capital Management, Inc. (a)		53,427		533,736
Multi-Utilities—0.6%
Engie S.A.		54,893		818,897
Public Service Enterprise Group, Inc.		23,559		1,399,640
Sempra Energy (a)		9,456		1,190,132
WEC Energy Group, Inc. (a)		12,490		987,709
				4,396,378
Multiline Retail—0.1%
Dollar Tree, Inc. (b)		9,899		1,039,791
Oil, Gas & Consumable Fuels—3.3%
Anadarko Petroleum Corp.		20,949		952,761
BP plc		336,879		2,459,203
Chevron Corp.		25,258		3,111,280
Eni S.p.A.		72,045		1,272,717
Enterprise Products Partners L.P.		105,245		3,062,630
EOG Resources, Inc.		25,349		2,412,718
EQT Midstream Partners L.P.		11,789		544,298
Equitrans Midstream Corp. (a)		52,022		1,133,039
Exxon Mobil Corp.		40,237		3,251,150
Hess Corp. (a)		18,194		1,095,825
Marathon Petroleum Corp.		11,856		709,582
MPLX L.P.		21,518		707,727
Noble Energy, Inc. (a)		27,930		690,709
Occidental Petroleum Corp.		12,086		800,093
Phillips 66		11,173		1,063,334
Pioneer Natural Resources Co.		8,064		1,227,986
Plains GP Holdings L.P. - Class A (a) (b)		47,708		1,188,883
				25,683,935
Pharmaceuticals—4.6%
Bayer AG		24,252		1,567,369
Bristol-Myers Squibb Co. (a)		68,621		3,273,908
Elanco Animal Health, Inc. (b)		26,432		847,674
Eli Lilly & Co.		35,874		4,655,010
Johnson & Johnson		67,259		9,402,136
Merck & Co., Inc.		22,336		1,857,685
Mylan NV (b)		20,229		573,290
Novartis AG		4,265		410,479
Pharmaceuticals—(Continued)
Pfizer, Inc.		246,919		10,486,650
Roche Holding AG		9,600		2,646,332
				35,720,533
Professional Services—0.3%
Equifax, Inc. (a)		17,077		2,023,624
Road & Rail—1.2%
Canadian National Railway Co.		10,922		977,301
Union Pacific Corp.		51,216		8,563,315
				9,540,616
Semiconductors & Semiconductor Equipment—1.6%
Analog Devices, Inc.		11,453		1,205,657
Intel Corp. (a)		29,964		1,609,067
Marvell Technology Group, Ltd.		44,141		877,965
Maxim Integrated Products, Inc. (a)		21,853		1,161,924
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		70,234		2,876,785
Texas Instruments, Inc.		45,120		4,785,878
				12,517,276
Software—1.9%
Adobe, Inc. (b)		17,680		4,711,543
Check Point Software Technologies, Ltd. (b)		8,750		1,106,788
Microsoft Corp.		63,844		7,529,761
Oracle Corp. (a)		28,890		1,551,682
				14,899,774
Specialty Retail—0.1%
Tractor Supply Co.		8,508		831,742
Technology Hardware, Storage & Peripherals—0.5%
Apple, Inc.		13,852		2,631,187
Samsung Electronics Co., Ltd.		15,901		508,656
Seagate Technology plc (a)		12,942		619,792
Western Digital Corp. (a)		8,830		424,370
				4,184,005
Textiles, Apparel & Luxury Goods—0.4%
Hanesbrands, Inc. (a)		17,823		318,675
LVMH Moet Hennessy Louis Vuitton SE		3,267		1,204,804
NIKE, Inc. - Class B		17,065		1,437,044
				2,960,523
Tobacco—1.5%
Altria Group, Inc.		56,987		3,272,763
Japan Tobacco, Inc.		25,600		635,887
Philip Morris International, Inc.		85,748		7,579,266
				11,487,916
Trading Companies & Distributors—0.0%
HD Supply Holdings, Inc. (b)		8,291		359,415
Total Common Stocks (Cost $360,205,638)				463,588,634

BHFTII-225

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

U.S. Treasury & Government Agencies—22.8%

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—11.8%
Fannie Mae 15 Yr. Pool
3.000%, 09/01/30		97,446	$	98,382
3.000%, 12/01/31		1,135,850		1,148,602
3.000%, 10/01/33		979,398		988,435
3.000%, 12/01/33		123,006		124,141
4.500%, 06/01/19		789		803
4.500%, 04/01/20		3,625		3,688
4.500%, 07/01/20		1,763		1,794
5.000%, 07/01/19		1,934		1,978
5.000%, 07/01/20		5,660		5,788
5.000%, 08/01/20		5,917		6,053
5.000%, 12/01/20		12,944		13,237
5.500%, 06/01/19		2,123		2,120
5.500%, 07/01/19		2,740		2,737
5.500%, 08/01/19		508		507
5.500%, 09/01/19		3,597		3,595
5.500%, 01/01/21		6,920		6,981
5.500%, 03/01/21		2,440		2,461
6.000%, 01/01/21		12,420		12,539
6.000%, 05/01/21		3,906		3,913
Fannie Mae 20 Yr. Pool
3.000%, 07/01/37		254,498		257,071
3.000%, 11/01/37		491,224		494,367
3.500%, 04/01/38		465,841		475,558
Fannie Mae 30 Yr. Pool
3.000%, 09/01/46		193,854		193,535
3.000%, 10/01/46		772,855		771,583
3.000%, 11/01/46		986,620		984,997
3.500%, 11/01/41		42,254		43,065
3.500%, 01/01/42		602,251		615,410
3.500%, 01/01/43		210,844		215,397
3.500%, 04/01/43		711,490		726,852
3.500%, 05/01/43		912,203		931,898
3.500%, 07/01/43		1,042,214		1,063,964
3.500%, 08/01/43		355,039		362,704
3.500%, 09/01/43		1,448,720		1,479,216
3.500%, 02/01/45		1,066,991		1,092,089
3.500%, 09/01/45		1,231,253		1,252,886
3.500%, 10/01/45		846,178		864,549
3.500%, 01/01/46		266,318		272,365
3.500%, 05/01/46		504,638		514,162
3.500%, 07/01/46		1,104,724		1,127,005
3.500%, 10/01/46		338,723		344,323
3.500%, 12/01/46		907,345		922,118
3.500%, 01/01/47		131,237		133,305
4.000%, 09/01/40		1,054,677		1,094,002
4.000%, 11/01/40		242,489		251,527
4.000%, 12/01/40		558,336		579,136
4.000%, 02/01/41		649,603		674,065
4.000%, 06/01/41		638,741		662,432
4.000%, 11/01/41		215,143		223,169
4.000%, 01/01/42		1,548,779		1,606,557
4.000%, 04/01/42		201,219		208,723
4.000%, 10/01/42		171,525		177,922
4.000%, 12/01/42		189,385		196,444
4.000%, 01/01/43		313,968		326,309
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
4.000%, 04/01/43		56,664		58,775
4.000%, 05/01/43		631,697		657,243
4.000%, 06/01/43		282,477		293,000
4.000%, 07/01/43		257,105		266,373
4.000%, 01/01/44		117,575		122,828
4.000%, 04/01/44		129,197		134,011
4.000%, 05/01/44		472,785		490,396
4.000%, 11/01/44		230,050		237,950
4.000%, 02/01/45		363,366		379,605
4.000%, 06/01/47		1,005,108		1,038,846
4.500%, 08/01/33		123,435		130,338
4.500%, 03/01/34		374,149		395,588
4.500%, 01/01/40		138,271		146,120
4.500%, 08/01/40		32,306		34,157
4.500%, 02/01/41		234,313		247,738
4.500%, 04/01/41		391,585		414,021
4.500%, 11/01/42		123,089		130,090
4.500%, 01/01/43		287,476		303,938
4.500%, 04/01/44		1,667,440		1,762,909
4.500%, 06/01/44		167,328		176,905
5.000%, 11/01/33		73,873		79,487
5.000%, 03/01/34		60,835		65,574
5.000%, 05/01/34		25,570		27,512
5.000%, 08/01/34		25,513		27,449
5.000%, 09/01/34		95,578		102,844
5.000%, 06/01/35		63,679		68,474
5.000%, 07/01/35		196,399		211,214
5.000%, 08/01/35		61,923		66,643
5.000%, 09/01/35		42,629		45,882
5.000%, 10/01/35		171,018		184,035
5.000%, 07/01/39		177,466		191,752
5.000%, 10/01/39		105,133		113,293
5.000%, 11/01/39		52,404		56,619
5.000%, 11/01/40		72,475		77,888
5.000%, 01/01/41		6,122		6,471
5.000%, 03/01/41		45,786		49,391
5.500%, 02/01/33		30,886		33,957
5.500%, 05/01/33		4,308		4,617
5.500%, 06/01/33		129,093		141,744
5.500%, 07/01/33		117,339		128,635
5.500%, 11/01/33		72,067		79,029
5.500%, 12/01/33		11,459		12,229
5.500%, 01/01/34		90,617		97,761
5.500%, 02/01/34		106,428		116,110
5.500%, 03/01/34		30,905		33,985
5.500%, 04/01/34		40,067		42,860
5.500%, 05/01/34		228,763		252,420
5.500%, 06/01/34		269,968		296,493
5.500%, 07/01/34		92,335		100,184
5.500%, 09/01/34		232,541		250,234
5.500%, 10/01/34		335,472		365,597
5.500%, 11/01/34		396,141		428,650
5.500%, 12/01/34		224,283		246,344
5.500%, 01/01/35		266,243		292,573
5.500%, 02/01/35		6,587		7,030

BHFTII-226

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.500%, 04/01/35		45,867	$	50,405
5.500%, 07/01/35		16,645		17,764
5.500%, 08/01/35		7,527		8,033
5.500%, 09/01/35		153,293		168,517
6.000%, 02/01/32		65,595		71,217
6.000%, 03/01/34		21,632		24,046
6.000%, 04/01/34		168,084		184,704
6.000%, 06/01/34		179,818		198,565
6.000%, 07/01/34		154,202		169,436
6.000%, 08/01/34		199,243		218,196
6.000%, 10/01/34		134,447		147,359
6.000%, 11/01/34		31,518		34,249
6.000%, 12/01/34		8,293		8,939
6.000%, 08/01/35		24,924		26,947
6.000%, 09/01/35		37,385		41,740
6.000%, 10/01/35		60,282		66,136
6.000%, 11/01/35		8,834		9,522
6.000%, 12/01/35		75,174		82,941
6.000%, 02/01/36		71,827		78,240
6.000%, 04/01/36		54,671		59,467
6.000%, 06/01/36		8,373		9,347
6.000%, 07/01/37		90,273		99,681
6.500%, 06/01/31		25,233		28,513
6.500%, 07/01/31		3,778		4,172
6.500%, 09/01/31		23,311		25,745
6.500%, 02/01/32		13,788		15,535
6.500%, 07/01/32		67,005		75,743
6.500%, 08/01/32		50,897		57,829
6.500%, 01/01/33		29,493		33,390
6.500%, 04/01/34		46,265		51,645
6.500%, 06/01/34		21,557		23,808
6.500%, 08/01/34		15,044		16,615
6.500%, 04/01/36		11,561		12,769
6.500%, 05/01/36		36,040		39,805
6.500%, 02/01/37		64,890		72,717
6.500%, 05/01/37		30,829		34,049
6.500%, 07/01/37		40,991		45,272
Fannie Mae Multifamily REMIC Trust (CMO) 2.821%, 1M LIBOR + 0.340%, 04/25/20 (c)		10,493		10,479
Fannie Mae Pool
2.280%, 11/01/26		153,370		149,262
2.410%, 05/01/23		89,200		89,095
2.550%, 05/01/23		143,181		143,760
2.700%, 07/01/25		121,000		121,091
4.600%, 09/01/19		123,396		123,962
5.000%, 03/01/26		82,169		91,185
Fannie Mae REMICS (CMO)
2.000%, 10/25/40		84,392		83,215
2.000%, 05/25/44		176,314		172,633
2.000%, 02/25/46		191,046		184,451
2.000%, 04/25/46		151,384		145,811
3.500%, 05/25/25		220,031		225,332
4.000%, 10/25/40		100,416		104,904
5.000%, 03/25/25		43,141		44,916
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae-ACES (CMO) 2.597%, 12/25/26 (c)		511,000		500,972
Freddie Mac 15 Yr. Gold Pool
4.500%, 08/01/19		199		203
4.500%, 02/01/20		4,171		4,245
4.500%, 08/01/24		131,686		135,720
5.500%, 06/01/19		176		176
5.500%, 08/01/19		121		121
5.500%, 02/01/20		550		551
6.000%, 08/01/19		2,230		2,231
6.000%, 09/01/19		829		829
6.000%, 11/01/19		1,431		1,433
6.000%, 05/01/21		4,950		5,013
6.000%, 10/01/21		16,809		17,064
Freddie Mac 20 Yr. Gold Pool
3.000%, 01/01/38		815,602		820,943
3.500%, 11/01/37		539,791		552,580
3.500%, 05/01/38		162,889		166,446
4.000%, 08/01/37		108,164		112,481
Freddie Mac 30 Yr. Gold Pool
3.000%, 10/01/42		523,479		523,992
3.000%, 04/01/43		1,151,701		1,152,831
3.000%, 05/01/43		1,002,970		1,003,954
3.000%, 05/01/46		504,203		504,385
3.000%, 10/01/46		955,958		954,527
3.000%, 11/01/46		1,847,079		1,843,391
3.000%, 03/01/48		189,226		188,496
3.500%, 02/01/42		471,017		481,440
3.500%, 04/01/42		323,766		332,049
3.500%, 12/01/42		781,716		800,568
3.500%, 04/01/43		226,697		232,163
3.500%, 07/01/43		46,117		47,123
3.500%, 08/01/43		488,463		498,769
3.500%, 12/01/45		495,282		504,276
3.500%, 11/01/46		402,336		409,144
3.500%, 12/01/46		1,921,877		1,954,369
3.500%, 01/01/47		1,337,892		1,360,464
4.000%, 11/01/40		581,405		603,566
4.000%, 01/01/41		1,219,916		1,266,403
4.000%, 04/01/44		387,077		400,555
4.000%, 08/01/47		1,132,146		1,169,002
4.500%, 04/01/35		33,658		35,630
4.500%, 07/01/39		190,814		202,062
4.500%, 09/01/39		107,590		113,930
4.500%, 10/01/39		61,922		65,571
4.500%, 12/01/39		94,671		100,257
4.500%, 05/01/42		170,152		180,185
5.000%, 09/01/33		144,843		156,105
5.000%, 03/01/34		29,692		32,202
5.000%, 04/01/34		25,930		27,941
5.000%, 08/01/35		33,341		35,912
5.000%, 10/01/35		73,018		78,962
5.000%, 11/01/35		59,341		63,916
5.000%, 12/01/36		40,128		43,245
5.000%, 07/01/39		297,005		320,631
5.500%, 12/01/33		180,380		200,572

BHFTII-227

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
5.500%, 01/01/34		116,489	$	128,063
5.500%, 04/01/34		16,450		17,616
5.500%, 11/01/34		23,067		25,305
5.500%, 12/01/34		8,700		9,317
5.500%, 05/01/35		24,158		25,962
5.500%, 09/01/35		31,208		33,735
5.500%, 10/01/35		41,451		45,047
6.000%, 04/01/34		93,150		102,477
6.000%, 07/01/34		25,819		28,114
6.000%, 08/01/34		182,575		200,938
6.000%, 09/01/34		2,456		2,658
6.000%, 07/01/35		31,406		34,615
6.000%, 08/01/35		38,602		42,568
6.000%, 11/01/35		55,010		60,492
6.000%, 03/01/36		20,789		22,501
6.000%, 10/01/36		33,306		36,629
6.000%, 03/01/37		7,404		8,014
6.000%, 05/01/37		56,720		62,329
6.000%, 06/01/37		35,172		38,736
6.500%, 05/01/34		12,094		13,391
6.500%, 06/01/34		58,944		65,492
6.500%, 08/01/34		49,290		54,576
6.500%, 10/01/34		56,522		64,685
6.500%, 11/01/34		41,505		45,957
6.500%, 05/01/37		59,479		67,903
6.500%, 07/01/37		57,583		65,262
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
0.197%, 11/25/27 (c) (d)		5,207,000		93,656
0.240%, 12/25/27 (c) (d)		3,235,000		70,516
0.275%, 11/25/24 (c) (d)		4,908,000		78,788
0.279%, 09/25/27 (c) (d)		3,341,000		80,257
0.288%, 12/25/27 (c) (d)		3,579,000		89,411
0.292%, 11/25/27 (c) (d)		3,690,619		83,380
0.312%, 11/25/32 (c) (d)		2,838,116		89,437
0.315%, 08/25/24 (c) (d)		4,897,000		90,321
0.327%, 11/25/27 (c) (d)		3,359,369		87,095
0.330%, 08/25/27 (c) (d)		3,107,000		85,648
0.366%, 10/25/24 (c) (d)		6,502,103		112,758
0.369%, 09/25/27 (c) (d)		2,758,010		78,398
0.370%, 12/25/27 (c) (d)		5,730,895		164,781
0.415%, 08/25/24 (c) (d)		8,944,076		172,107
0.436%, 08/25/27 (c) (d)		2,145,940		68,851
0.504%, 07/25/24 (c) (d)		4,483,000		118,455
0.578%, 07/25/27 (c) (d)		3,877,898		163,539
0.610%, 07/25/24 (c) (d)		1,627,487		44,297
0.636%, 06/25/27 (c) (d)		4,356,000		214,481
0.753%, 06/25/27 (c) (d)		1,478,510		77,649
0.882%, 04/25/24 (c) (d)		1,966,896		70,506
1.869%, 11/25/19		285,416		283,844
2.456%, 08/25/19		148,999		148,633
2.510%, 11/25/22		489,000		488,285
2.670%, 12/25/24		507,000		506,523
2.673%, 03/25/26		676,000		672,386
2.716%, 06/25/22		346,271		347,629
2.791%, 01/25/22		474,000		476,346
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
3.010%, 07/25/25		134,000		136,153
3.060%, 07/25/23 (c)		219,000		222,970
3.064%, 08/25/24 (c)		255,000		260,040
3.111%, 02/25/23		695,000		708,523
3.117%, 06/25/27		354,000		360,075
3.151%, 11/25/25		317,000		324,632
3.171%, 10/25/24		424,000		434,564
3.187%, 09/25/27 (c)		242,000		247,057
3.224%, 03/25/27		334,000		342,425
3.244%, 08/25/27		920,000		943,707
3.250%, 04/25/23 (c)		803,000		823,032
3.320%, 02/25/23 (c)		227,000		233,203
3.413%, 12/25/26		248,000		257,595
3.430%, 01/25/27 (c)		242,707		252,367
3.458%, 08/25/23 (c)		835,000		862,562
3.650%, 02/25/28 (c)		285,000		300,759
3.900%, 04/25/28		528,000		567,712
Freddie Mac REMICS 3.000%, 07/15/39		92,840		93,368
Ginnie Mae I 30 Yr. Pool
3.500%, 12/15/41		325,947		334,780
3.500%, 02/15/42		102,594		105,358
4.500%, 09/15/33		70,570		74,090
4.500%, 11/15/39		207,797		218,643
4.500%, 03/15/40		236,982		251,681
4.500%, 04/15/40		248,885		261,900
4.500%, 06/15/40		102,863		108,617
5.000%, 03/15/34		24,011		25,779
5.000%, 06/15/34		56,630		60,814
5.000%, 12/15/34		26,029		27,951
5.000%, 06/15/35		6,944		7,249
5.500%, 11/15/32		126,824		136,283
5.500%, 08/15/33		199,887		219,386
5.500%, 12/15/33		104,722		115,183
5.500%, 09/15/34		92,836		102,094
5.500%, 10/15/35		11,355		12,192
6.000%, 12/15/28		26,366		28,978
6.000%, 12/15/31		26,164		29,414
6.000%, 03/15/32		1,074		1,157
6.000%, 10/15/32		129,756		145,892
6.000%, 01/15/33		29,960		32,356
6.000%, 02/15/33		1,452		1,585
6.000%, 04/15/33		129,603		145,711
6.000%, 08/15/33		992		1,069
6.000%, 07/15/34		72,364		80,543
6.000%, 09/15/34		24,593		26,505
6.000%, 01/15/38		99,084		108,533
Ginnie Mae II 30 Yr. Pool
3.000%, 11/20/47		2,297,065		2,308,764
3.000%, 01/20/48		3,609,688		3,628,072
3.000%, 02/20/48		175,806		176,702
3.000%, 03/20/48		673,265		676,694
3.000%, 04/20/48		617,293		620,437
3.500%, 06/20/43		587,575		602,523
3.500%, 07/20/43		744,123		763,056

BHFTII-228

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
3.500%, 11/20/47		190,917	$	195,238
3.500%, 03/20/48		2,391,092		2,444,839
4.000%, 01/20/41		711,036		740,626
4.000%, 02/20/41		176,712		184,060
4.000%, 04/20/41		136,257		141,936
4.000%, 02/20/42		180,962		188,498
4.000%, TBA (e)		900,000		929,566
4.500%, 07/20/33		14,363		15,045
4.500%, 09/20/33		7,917		8,292
4.500%, 12/20/34		5,066		5,295
4.500%, 03/20/35		32,917		34,479
4.500%, 01/20/41		182,848		192,533
4.500%, 01/20/49		323,773		336,621
4.500%, TBA (e)		750,000		778,839
5.000%, 07/20/33		25,915		27,711
5.000%, TBA (e)		425,000		443,984
6.000%, 01/20/35		32,227		36,413
6.000%, 02/20/35		16,416		18,548
6.000%, 04/20/35		28,752		32,502
Government National Mortgage Association (CMO)
0.660%, 02/16/59 (c) (d)		2,351,714		140,584
2.500%, 07/20/32		125,000		118,646
				91,690,369
U.S. Treasury—11.0%
U.S. Treasury Bonds
2.500%, 02/15/45		68,000		64,303
2.875%, 05/15/43		12,584,700		12,804,441
2.875%, 11/15/46		5,439,000		5,518,885
3.000%, 02/15/48		2,760,000		2,862,530
3.500%, 02/15/39		2,390,000		2,712,837
4.500%, 02/15/36 (a)		179,000		226,987
4.500%, 08/15/39		743,000		961,140
5.000%, 05/15/37 (a)		232,000		314,061
5.250%, 02/15/29		16,000		19,974
5.375%, 02/15/31		276,000		359,102
6.250%, 08/15/23		80,000		93,272
U.S. Treasury Notes
1.750%, 11/30/21		28,134,000		27,780,127
1.750%, 09/30/22		907,000		892,509
2.000%, 11/15/26		1,875,000		1,830,615
2.250%, 08/15/27		733,000		726,615
2.500%, 08/15/23		11,017,000		11,140,511
3.125%, 05/15/21		3,504,000		3,564,499
3.500%, 05/15/20		13,096,000		13,255,607
				85,128,015
Total U.S. Treasury & Government Agencies (Cost $175,895,450)				176,818,384
Corporate Bonds & Notes—11.6%
Aerospace/Defense—0.2%
L3 Technologies, Inc. 3.850%, 06/15/23		862,000		888,763
Aerospace/Defense—(Continued)
United Technologies Corp. 4.125%, 11/16/28		562,000		585,717
				1,474,480
Agriculture—0.1%
Altria Group, Inc.
4.400%, 02/14/26		149,000		153,466
4.800%, 02/14/29		380,000		392,116
				545,582
Auto Manufacturers—0.2%
General Motors Co.
5.150%, 04/01/38		235,000		215,058
6.750%, 04/01/46		374,000		389,961
General Motors Financial Co., Inc.
3.200%, 07/06/21		776,000		772,738
4.350%, 04/09/25		360,000		358,668
				1,736,425
Auto Parts & Equipment—0.1%
Lear Corp. 3.800%, 09/15/27		801,000		768,181
Banks—2.3%
ABN AMRO Bank NV 4.800%, 04/18/26 (144A)		800,000		834,659
Banco de Credito del Peru 5.375%, 09/16/20		835,000		861,102
Bank of America Corp.
3.004%, 3M LIBOR + 0.790%, 12/20/23 (c)		510,000		508,663
3.366%, 3M LIBOR + 0.810%, 01/23/26 (c)		591,000		591,811
3.500%, 04/19/26		583,000		589,386
4.100%, 07/24/23		1,270,000		1,328,485
4.125%, 01/22/24		1,357,000		1,422,050
BBVA Bancomer S.A. 6.750%, 09/30/22 (144A) (a)		810,000		873,917
Goldman Sachs Group, Inc. (The) 3.850%, 01/26/27		616,000		618,859
JPMorgan Chase & Co.
3.200%, 01/25/23		1,756,000		1,780,891
3.782%, 3M LIBOR + 1.337%, 02/01/28 (c)		1,362,000		1,388,635
3.897%, 3M LIBOR + 1.220%, 01/23/49 (c)		400,000		387,453
KFW 4.875%, 06/17/19		1,290,000		1,295,857
Morgan Stanley
3.125%, 01/23/23		132,000		132,458
3.625%, 01/20/27		1,695,000		1,699,091
3.875%, 04/29/24		557,000		573,200
4.000%, 07/23/25		396,000		407,837
Royal Bank of Scotland Group plc 3.875%, 09/12/23		1,128,000		1,133,090
UBS Group Funding Switzerland AG
3.491%, 05/23/23 (144A)		700,000		703,586
4.253%, 03/23/28 (144A) (a)		200,000		208,161

BHFTII-229

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Wells Fargo & Co. 3.750%, 01/24/24		542,000	$	557,959
				17,897,150
Beverages—0.3%
Anheuser-Busch InBev Worldwide, Inc. 8.000%, 11/15/39		706,000		968,775
Constellation Brands, Inc. 3.500%, 05/09/27 (a)		1,077,000		1,052,405
				2,021,180
Building Materials—0.2%
CRH America Finance, Inc. 4.500%, 04/04/48 (144A)		362,000		336,025
Martin Marietta Materials, Inc. 3.500%, 12/15/27 (a)		297,000		286,436
Masco Corp. 4.375%, 04/01/26		623,000		634,051
				1,256,512
Chemicals—0.1%
SASOL Financing USA LLC 5.875%, 03/27/24		502,000		532,645
Sherwin-Williams Co. (The) 4.500%, 06/01/47		402,000		396,842
				929,487
Commercial Services—0.3%
ERAC USA Finance LLC 7.000%, 10/15/37 (144A) (a)		747,000		958,133
Experian Finance plc 4.250%, 02/01/29 (144A)		533,000		551,139
IHS Markit, Ltd.
4.000%, 03/01/26 (144A) (a)		696,000		695,304
Verisk Analytices, Inc. 4.125%, 03/15/29 (a)		429,000		440,281
				2,644,857
Computers—0.3%
Apple, Inc.
2.850%, 02/23/23		1,176,000		1,186,642
3.350%, 02/09/27		397,000		405,286
3.850%, 05/04/43		370,000		374,334
Dell International LLC / EMC Corp. 4.900%, 10/01/26 (144A) (a) (f)		583,000		593,693
				2,559,955
Diversified Financial Services—0.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.650%, 07/21/27		520,000		486,166
4.875%, 01/16/24		150,000		156,002
Capital One Financial Corp. 3.750%, 03/09/27		820,000		807,276
Diversified Financial Services—(Continued)
Charles Schwab Corp. (The) 3.200%, 01/25/28 (a)		891,000		890,331
E*TRADE Financial Corp.
2.950%, 08/24/22		338,000		337,350
3.800%, 08/24/27 (a)		338,000		328,452
4.500%, 06/20/28		348,000		353,840
Intercontinental Exchange, Inc.
2.350%, 09/15/22		487,000		479,587
2.750%, 12/01/20		301,000		301,373
4.000%, 10/15/23		832,000		873,293
Raymond James Financial, Inc. 4.950%, 07/15/46		778,000		824,333
Visa, Inc. 3.150%, 12/14/25		983,000		1,000,316
				6,838,319
Electric—0.9%
Berkshire Hathaway Energy Co. 3.750%, 11/15/23 (a)		440,000		457,621
Duke Energy Corp. 2.650%, 09/01/26		131,000		124,838
Enel Finance International NV 4.875%, 06/14/29 (144A)		696,000		725,855
Exelon Corp. 3.400%, 04/15/26		1,137,000		1,136,372
Jersey Central Power & Light Co. 4.300%, 01/15/26 (144A) (f)		474,000		493,795
Oncor Electric Delivery Co. LLC 5.750%, 03/15/29		795,000		950,582
PPL Capital Funding, Inc.
3.400%, 06/01/23		880,000		886,347
5.000%, 03/15/44		296,000		323,510
Progress Energy, Inc. 3.150%, 04/01/22		1,083,000		1,090,924
Southern California Edison Co.
4.875%, 03/01/49 (a)		251,000		265,649
State Grid Overseas Investment, Ltd. 2.750%, 05/07/19 (144A) (f)		778,000		778,138
				7,233,631
Environmental Control—0.1%
Republic Services, Inc. 3.950%, 05/15/28 (a)		446,000		467,432
Food—0.2%
Conagra Brands, Inc.
5.300%, 11/01/38		155,000		157,482
5.400%, 11/01/48 (a)		231,000		232,614
Danone S.A. 2.947%, 11/02/26 (144A)		1,133,000		1,086,937
Kraft Heinz Foods Co. 5.000%, 07/15/35 (a)		254,000		249,699
				1,726,732

BHFTII-230

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Forest Products & Paper—0.1%
Suzano Austria GmbH 6.000%, 01/15/29 (144A)		520,000	$	553,909
Gas—0.0%
NiSource, Inc. 5.650%, 02/01/45		176,000		204,854
Healthcare-Products—0.7%
Abbott Laboratories 4.900%, 11/30/46		749,000		866,017
Becton Dickinson & Co.
3.125%, 11/08/21		344,000		345,471
4.669%, 06/06/47		729,000		764,431
Boston Scientific Corp. 3.750%, 03/01/26		220,000		224,529
Medtronic, Inc. 4.375%, 03/15/35		446,000		487,324
Thermo Fisher Scientific, Inc.
2.950%, 09/19/26		851,000		820,767
3.200%, 08/15/27		867,000		848,680
Zimmer Biomet Holdings, Inc.
3.375%, 3M LIBOR + 0.750%, 03/19/21 (c)		313,000		311,944
3.550%, 04/01/25		955,000		942,380
				5,611,543
Healthcare-Services—0.2%
Laboratory Corp. of America Holdings
3.200%, 02/01/22		213,000		214,609
3.250%, 09/01/24		558,000		553,904
4.700%, 02/01/45		267,000		260,689
Northwell Healthcare, Inc.
3.979%, 11/01/46		57,000		55,203
4.260%, 11/01/47		456,000		460,810
				1,545,215
Home Furnishings—0.1%
Whirlpool Corp. 4.750%, 02/26/29		596,000		611,466
Household Products/Wares—0.2%
Reckitt Benckiser Treasury Services plc
2.750%, 06/26/24 (144A)		348,000		342,175
3.625%, 09/21/23 (144A)		1,070,000		1,094,547
				1,436,722
Insurance—0.5%
American International Group, Inc.
4.125%, 02/15/24		750,000		774,387
4.875%, 06/01/22		1,292,000		1,367,295
Berkshire Hathaway, Inc. 3.125%, 03/15/26 (a)		390,000		394,286
Liberty Mutual Group, Inc. 4.850%, 08/01/44 (144A)		484,000		496,044
Insurance—(Continued)
Marsh & McLennan Cos., Inc.
4.750%, 03/15/39		298,000		322,983
4.800%, 07/15/21		920,000		956,780
				4,311,775
Internet—0.2%
Booking Holdings, Inc. 2.750%, 03/15/23		1,315,000		1,309,030
Investment Company Security—0.2%
Temasek Financial I, Ltd. 2.375%, 01/23/23 (144A)		1,790,000		1,770,832
Lodging—0.1%
Marriott International, Inc. 4.000%, 04/15/28		698,000		707,173
Machinery-Diversified—0.2%
CNH Industrial Capital LLC 4.200%, 01/15/24		675,000		693,116
Roper Technologies, Inc. 4.200%, 09/15/28		281,000		291,543
Wabtec Corp. 4.950%, 09/15/28		648,000		657,394
				1,642,053
Media—0.4%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.908%, 07/23/25		523,000		551,505
Fox Corp. 4.030%, 01/25/24 (144A)		835,000		866,463
Time Warner Entertainment Co. L.P. 8.375%, 07/15/33		1,240,000		1,618,546
				3,036,514
Mining—0.1%
Glencore Funding LLC
4.000%, 03/27/27 (144A) (a)		164,000		159,279
4.125%, 05/30/23 (144A)		684,000		696,688
				855,967
Oil & Gas—0.6%
BP Capital Markets America, Inc. 3.410%, 02/11/26		883,000		901,705
BP Capital Markets plc 4.500%, 10/01/20 (a)		306,000		314,054
Eni S.p.A. 4.750%, 09/12/28 (144A)		617,000		640,941
Equinor ASA 7.750%, 06/15/23		100,000		118,958
Marathon Petroleum Corp.
3.625%, 09/15/24		858,000		866,082
4.750%, 09/15/44		583,000		581,426

BHFTII-231

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Valero Energy Corp. 4.900%, 03/15/45		896,000	$	946,611
				4,369,777
Pharmaceuticals—0.1%
Cigna Corp. 4.125%, 11/15/25 (144A)		823,000		852,075
Pipelines—0.6%
APT Pipelines, Ltd.
4.200%, 03/23/25 (144A)		1,228,000		1,254,232
4.250%, 07/15/27 (144A)		93,000		94,320
Kinder Morgan Energy Partners L.P. 4.150%, 02/01/24		691,000		715,863
MPLX L.P. 4.500%, 04/15/38		297,000		282,789
ONEOK, Inc. 4.950%, 07/13/47		869,000		858,062
Sabine Pass Liquefaction LLC 5.000%, 03/15/27 (a)		1,100,000		1,166,107
				4,371,373
Real Estate Investment Trusts—0.3%
American Tower Corp.
3.000%, 06/15/23		415,000		413,777
3.600%, 01/15/28		415,000		409,385
Crown Castle International Corp. 3.650%, 09/01/27 (a)		1,014,000		997,972
GLP Capital L.P. / GLP Financing II, Inc. 5.300%, 01/15/29		574,000		602,803
				2,423,937
Retail—0.3%
Best Buy Co., Inc. 4.450%, 10/01/28		793,000		803,888
Dollar Tree, Inc.
4.000%, 05/15/25		349,000		353,006
4.200%, 05/15/28		148,000		147,614
Home Depot, Inc. (The) 3.900%, 06/15/47		471,000		477,364
Tapestry, Inc. 4.125%, 07/15/27		572,000		546,916
				2,328,788
Semiconductors—0.2%
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
3.500%, 01/15/28		984,000		906,393
3.875%, 01/15/27		348,000		332,683
Broadcom, Inc. 4.250%, 04/15/26 (144A)		495,000		491,342
				1,730,418
Shipbuilding—0.0%
Huntington Ingalls Industries, Inc. 3.483%, 12/01/27		250,000		244,475
Software—0.2%
Fidelity National Information Services, Inc.
4.500%, 08/15/46		210,000		198,987
4.750%, 05/15/48		498,000		494,089
Microsoft Corp. 4.250%, 02/06/47		743,000		829,922
				1,522,998
Telecommunications—0.1%
AT&T, Inc. 5.450%, 03/01/47 (a)		548,000		586,483
Total Corporate Bonds & Notes (Cost $88,670,009)				90,127,300
Asset-Backed Securities—2.2%
Asset-Backed - Automobile—0.4%
Avis Budget Rental Car Funding AESOP LLC 3.450%, 03/20/23 (144A) (f)		1,220,000		1,232,922
Chesapeake Funding II LLC
3.040%, 04/15/30 (144A)		471,553		473,063
3.484%, 1M LIBOR + 1.000%, 06/15/28 (144A) (c) (f)		317,902		318,402
Ford Credit Auto Owner Trust
2.260%, 11/15/25 (144A)		550,000		549,727
2.310%, 04/15/26 (144A)		425,000		423,839
				2,997,953
Asset-Backed - Home Equity—0.1%
Bayview Financial Revolving Asset Trust 4.096%, 1M LIBOR + 1.600%, 12/28/40 (144A) (c) (f)		440,552		413,836
GMAC Home Equity Loan Trust 5.805%, 10/25/36 (c)		118,827		124,462
Home Equity Loan Trust 5.320%, 12/25/35 (c)		213,463		207,284
				745,582
Asset-Backed - Other—1.7%
A Voce CLO, Ltd. 3.947%, 3M LIBOR + 1.160%, 07/15/26 (144A) (c)		916,211		916,345
ALM, Ltd.
2.604%, 3M LIBOR + 1.250%, 10/18/27 (144A) (c) (f)		849,000		839,672
4.187%, 3M LIBOR + 1.400%, 10/15/27 (144A) (c) (f)		1,395,000		1,390,879
American Tower Trust I 3.070%, 03/15/48 (144A)		1,000,000		997,564
Cutwater, Ltd. 4.007%, 3M LIBOR + 1.220%, 01/15/29 (144A) (c)		1,395,000		1,389,124
Dryden 55 CLO, Ltd. 3.807%, 3M LIBOR + 1.020%, 04/15/31 (144A) (c)		1,430,000		1,413,286
Dryden Senior Loan Fund 3.687%, 3M LIBOR + 0.900%, 04/15/29 (144A) (c) (f)		663,000		656,477

BHFTII-232

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Figueroa CLO, Ltd. 4.287%, 3M LIBOR + 1.500%, 01/15/27 (144A) (c)		420,000	$	416,728
Fort Credit LLC 4.117%, 10/21/23 (144A)		518,500		518,499
KREF, Ltd. 3.584%, 1M LIBOR + 1.100%, 06/15/36 (144A) (c)		691,000		691,108
Mountain Hawk CLO, Ltd. 4.580%, 3M LIBOR + 1.800%, 04/18/25 (144A) (c)		1,463,576		1,462,650
Navistar Financial Dealer Note Master Trust 3.116%, 1M LIBOR + 0.630%, 09/25/23 (144A) (c) (f)		808,000		809,203
Neuberger Berman CLO, Ltd. 3.587%, 3M LIBOR + 0.800%, 01/15/28 (144A) (c) (f)		600,000		594,920
Oaktree CLO, Ltd. 4.111%, 3M LIBOR + 1.350%, 10/20/27 (144A) (c)		254,518		250,523
Small Business Administration Participation Certificates
4.350%, 07/01/23		85,065		87,318
4.770%, 04/01/24		6,596		6,766
4.950%, 03/01/25		36,249		37,457
4.990%, 09/01/24		20,304		21,015
5.110%, 08/01/25		50,713		52,456
5.180%, 05/01/24		9,843		10,107
5.520%, 06/01/24		22,983		23,848
Sound Point CLO, Ltd. 3.651%, 3M LIBOR + 0.890%, 01/20/28 (144A) (c)		365,000		361,878
				12,947,823
Total Asset-Backed Securities (Cost $16,746,020)				16,691,358
Mortgage-Backed Securities—1.7%
Commercial Mortgage-Backed Securities—1.7%
AREIT Trust 3.464%, 1M LIBOR + 0.980%, 11/14/35 (144A) (c) (f)		1,380,298		1,378,850
Bancorp Commercial Mortgage Trust 3.384%, 1M LIBOR + 0.900%, 09/15/35 (144A) (c) (f)		980,351		977,806
BANK 3.714%, 04/15/52		875,000		904,330
BDS, Ltd. 3.884%, 1M LIBOR + 1.400%, 08/15/35 (144A) (c) (f)		1,322,500		1,320,020
Commercial Mortgage Trust 3.708%, 07/10/48		1,300,833		1,346,781
CSAIL Commercial Mortgage Trust 3.504%, 06/15/57		738,578		755,719
GS Mortgage Securities Corp. II 3.382%, 05/10/50		1,387,991		1,419,468
JPMBB Commercial Mortgage Securities Trust
3.227%, 10/15/48		1,036,740		1,046,285
3.494%, 01/15/48		1,590,000		1,627,730
Morgan Stanley Bank of America Merrill Lynch Trust
3.536%, 11/15/52		519,442		530,645
Morgan Stanley Capital Trust 3.530%, 06/15/50		470,148		480,675
Commercial Mortgage-Backed Securities—(Continued)
Wells Fargo Commercial Mortgage Trust 3.540%, 05/15/48		1,410,327		1,443,715
Total Mortgage-Backed Securities (Cost $13,277,369)				13,232,024
Convertible Preferred Stocks—0.4%
Electric Utilities—0.1%
NextEra Energy, Inc. 6.123%, 09/01/19		6,834		422,751
Healthcare-Products—0.1%
Danaher Corp. 4.750%, 04/15/22 (b)		418		440,150
Multi-Utilities—0.2%
CenterPoint Energy, Inc. 7.000%, 09/01/21		34,392		1,817,273
Total Convertible Preferred Stocks (Cost $2,585,713)				2,680,174
Municipals—0.2%
New Jersey State Turnpike Authority, Build America Bond 7.414%, 01/01/40 (Cost $1,092,733)		1,050,000		1,577,121
Short-Term Investment—1.0%
Discount Note—1.0%
Federal Home Loan Bank Zero Coupon, 04/01/19		7,933,000		7,933,000
Total Short-Term Investments (Cost $7,933,000)				7,933,000
Securities Lending Reinvestments (g)—8.0%
Certificates of Deposit—1.5%
BNP Paribas S.A. New York
2.784%, 3M LIBOR + 0.050%, 11/06/19 (c)		1,000,000		1,000,000
2.790%, 1M LIBOR + 0.300%, 06/04/19 (c)		2,000,000		2,000,740
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 06/21/19		1,986,648		1,988,244
Natixis New York 2.788%, 3M LIBOR + 0.090%, 05/10/19 (c)		1,000,000		1,000,214
Nordea Bank New York 2.750%, 06/17/19		1,000,000		1,000,378
Shizuoka Bank, Ltd. 2.600%, 05/07/19		1,000,000		1,000,045
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (c)		1,500,000		1,500,057

BHFTII-233

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 08/08/19		986,362	$	990,280
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (c)		1,000,000		999,922
				11,479,880
Commercial Paper—0.5%
Bank of China, Ltd. 2.890%, 04/17/19		992,775		998,579
Fairway Finance Corp. 2.600%, 05/07/19		993,356		997,223
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (c)		1,000,000		1,000,000
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (c)		1,000,000		1,000,427
				3,996,229
Repurchase Agreements—3.9%
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $50,136; collateralized by various Common Stock with an aggregate market value of $55,000.		50,000		50,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $1,000,203; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $1,020,001.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $1,000,233; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $1,020,001.		1,000,000		1,000,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $1,000,208; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,271,886; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,297,051.		1,271,619		1,271,619
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $3,152,171; collateralized by various Common Stock with an aggregate market value of $3,300,002.		3,000,000		3,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $1,108,473; collateralized by various Common Stock with an aggregate market value of $1,210,000.		1,100,000		1,100,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $1,310,301; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,392,763.		1,300,000		1,300,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $1,000,506; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,082,964.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $1,500,758; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,624,446.		1,500,000		1,500,000
Nomura Securities International, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $4,000,850; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 3.875%, maturity dates ranging from 04/11/19 - 11/15/48, and an aggregate market value of $4,080,000.		4,000,000		4,000,000
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $4,106,257; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $4,448,807.		4,000,000		4,000,000
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $6,121,317; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $6,673,210.		6,000,000		6,000,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $1,700,840; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,890,743.		1,700,000		1,700,000

BHFTII-234

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $600,296; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $667,321.		600,000	$	600,000
				30,521,619
Time Deposits—2.1%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		2,000,000		2,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		3,000,000		3,000,000
DZ Bank AG New York 2.430%, 04/01/19		2,000,000		2,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York 2.350%, 04/01/19		1,000,000		1,000,000
Skandi New York 2.380%, 04/01/19		3,000,000		3,000,000
Svenska, New York 2.360%, 04/01/19		3,000,000		3,000,000
				16,000,000
Total Securities Lending Reinvestments (Cost $61,996,259)				61,997,728
Total Investments—107.8% (Cost $728,402,191)				834,645,723
Other assets and liabilities (net)—(7.8)%				(60,328,650	)
Net Assets—100.0%			$	774,317,073

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $60,755,447 and the collateral received consisted of cash in the amount of $61,980,759. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Interest only security.
(e)	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.
(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 March 31, 2019, the market value of restricted securities was $11,798,613, which is 1.5% of net assets. See details shown in the Restricted Securities table that follows.
(g)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2019, the market value of 144A securities was $37,949,510, which is 4.9% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
ALM, Ltd., 2.604%, 10/18/27		10/04/17	$	849,000	$	849,000	$	839,672
ALM, Ltd., 4.187%, 10/15/27		09/21/18		1,395,000		1,395,000		1,390,879
AREIT Trust, 3.464%, 11/14/35		10/30/18		1,380,298		1,380,298		1,378,850
Avis Budget Rental Car Funding AESOP LLC, 3.450%, 03/20/23		02/13/19		1,220,000		1,219,830		1,232,922
BDS, Ltd., 3.884%, 08/15/35		07/25/18		1,322,500		1,323,456		1,320,020
Bancorp Commercial Mortgage Trust, 3.384%, 09/15/35		09/17/18		980,351		980,351		977,806
Bayview Financial Revolving Asset Trust, 4.096%, 12/28/40		03/01/06		440,552		440,551		413,836
Chesapeake Funding II LLC, 3.484%, 06/15/28		06/14/16		317,902		317,902		318,402
Dell International LLC / EMC Corp., 4.900%, 10/01/26		03/20/19		583,000		581,507		593,693
Dryden Senior Loan Fund, 3.687%, 04/15/29		04/09/18		663,000		663,000		656,477
Jersey Central Power & Light Co., 4.300%, 01/15/26		02/08/19		474,000		480,973		493,795
Navistar Financial Dealer Note Master Trust, 3.116%, 09/25/23		09/17/18		808,000		808,000		809,203
Neuberger Berman CLO, Ltd., 3.587%, 01/15/28		09/19/18		600,000		598,050		594,920
State Grid Overseas Investment, Ltd., 2.750%, 05/07/19		04/28/14		778,000		777,848		778,138
							$	11,798,613

BHFTII-235

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Glossary of Abbreviations

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

(ACES)—	Alternative Credit Enhancement Securities
(ADR)—	American Depositary Receipt
(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. A reconciliation of Level 3 securities, if any, will be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	15,413,952	$	—	$	—	$	15,413,952
Air Freight & Logistics		1,945,393		—		—		1,945,393
Airlines		1,103,399		—		—		1,103,399
Auto Components		5,225,138		—		—		5,225,138
Automobiles		179,405		768,387		—		947,792
Banks		44,099,139		1,511,502		—		45,610,641
Beverages		3,478,736		3,481,531		—		6,960,267
Biotechnology		1,192,537		—		—		1,192,537
Building Products		5,008,067		—		—		5,008,067
Capital Markets		24,334,687		—		—		24,334,687
Chemicals		15,338,184		763,254		—		16,101,438
Commercial Services & Supplies		—		482,176		—		482,176
Communications Equipment		5,841,664		—		—		5,841,664
Consumer Finance		1,820,983		—		—		1,820,983
Containers & Packaging		803,325		—		—		803,325
Diversified Financial Services		—		1,710,100		—		1,710,100
Diversified Telecommunication Services		3,155,709		—		—		3,155,709
Electric Utilities		13,587,667		1,270,669		—		14,858,336
Electrical Equipment		6,770,728		405,803		—		7,176,531
Energy Equipment & Services		2,499,829		—		—		2,499,829
Entertainment		883,978		—		—		883,978
Equity Real Estate Investment Trusts		9,735,789		—		—		9,735,789
Food & Staples Retailing		3,682,484		—		—		3,682,484
Food Products		7,672,254		7,104,870		—		14,777,124
Health Care Equipment & Supplies		20,468,093		—		—		20,468,093
Health Care Providers & Services		12,435,342		—		—		12,435,342
Hotels, Restaurants & Leisure		5,466,173		—		—		5,466,173
Household Durables		1,657,936		—		—		1,657,936
Household Products		3,860,854		1,493,731		—		5,354,585
Industrial Conglomerates		10,388,807		—		—		10,388,807
Insurance		25,248,582		2,493,286		—		27,741,868

BHFTII-236

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Interactive Media & Services	$	2,292,582	$	—		$	—	$	2,292,582
Internet & Direct Marketing Retail		4,485,709		—			—		4,485,709
IT Services		20,765,990		—			—		20,765,990
Leisure Products		527,056		—			—		527,056
Life Sciences Tools & Services		7,089,074		—			—		7,089,074
Machinery		10,784,913		—			—		10,784,913
Media		14,687,312		—			—		14,687,312
Metals & Mining		—		1,992,591			—		1,992,591
Mortgage Real Estate Investment Trusts		533,736		—			—		533,736
Multi-Utilities		3,577,481		818,897			—		4,396,378
Multiline Retail		1,039,791		—			—		1,039,791
Oil, Gas & Consumable Fuels		21,952,015		3,731,920			—		25,683,935
Pharmaceuticals		31,096,353		4,624,180			—		35,720,533
Professional Services		2,023,624		—			—		2,023,624
Road & Rail		9,540,616		—			—		9,540,616
Semiconductors & Semiconductor Equipment		12,517,276		—			—		12,517,276
Software		14,899,774		—			—		14,899,774
Specialty Retail		831,742		—			—		831,742
Technology Hardware, Storage & Peripherals		3,675,349		508,656			—		4,184,005
Textiles, Apparel & Luxury Goods		1,755,719		1,204,804			—		2,960,523
Tobacco		10,852,029		635,887			—		11,487,916
Trading Companies & Distributors		359,415		—			—		359,415
Total Common Stocks		428,586,390		35,002,244			—		463,588,634
Total U.S. Treasury & Government Agencies*		—		176,818,384			—		176,818,384
Total Corporate Bonds & Notes*		—		90,127,300			—		90,127,300
Total Asset-Backed Securities*		—		16,691,358			—		16,691,358
Total Mortgage-Backed Securities*		—		13,232,024			—		13,232,024
Total Convertible Preferred Stocks*		2,680,174		—			—		2,680,174
Total Municipals		—		1,577,121			—		1,577,121
Total Short-Term Investment*		—		7,933,000			—		7,933,000
Total Securities Lending Reinvestments*		—		61,997,728			—		61,997,728
Total Investments	$	431,266,564	$	403,379,159		$	—	$	834,645,723
Collateral for Securities Loaned (Liability)	$	—	$	(61,980,759	)	$	—	$	(61,980,759	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-237

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—99.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.7%
Lockheed Martin Corp.		97,484	$	29,260,797
Northrop Grumman Corp.		208,145		56,115,892
United Technologies Corp.		317,249		40,890,224
				126,266,913
Air Freight & Logistics—0.6%
United Parcel Service, Inc. - Class B		174,283		19,474,382
Auto Components—1.0%
Aptiv plc		364,774		28,995,885
Lear Corp.		50,364		6,834,899
				35,830,784
Automobiles—0.1%
Harley-Davidson, Inc.		108,869		3,882,268
Banks—13.2%
BB&T Corp.		823,743		38,328,762
Citigroup, Inc.		1,095,675		68,172,898
JPMorgan Chase & Co. (a)		1,428,457		144,602,702
PNC Financial Services Group, Inc. (The)		392,062		48,090,325
U.S. Bancorp (a)		1,428,766		68,852,234
Wells Fargo & Co.		1,731,570		83,669,462
				451,716,383
Beverages—1.9%
Diageo plc		1,132,439		46,318,941
PepsiCo, Inc.		150,407		18,432,378
				64,751,319
Building Products—1.8%
Johnson Controls International plc		1,637,996		60,507,572
Capital Markets—6.6%
Bank of New York Mellon Corp. (The) (a)		667,697		33,671,960
BlackRock, Inc.		74,756		31,948,472
Goldman Sachs Group, Inc. (The) (a)		280,983		53,945,926
Moody’s Corp.		149,981		27,160,059
Nasdaq, Inc. (a)		425,277		37,207,485
State Street Corp. (a)		407,677		26,829,223
T. Rowe Price Group, Inc. (a)		156,818		15,700,618
				226,463,743
Chemicals—3.1%
Dow, Inc. (b) (c)		31,504		1,626,551
DowDuPont, Inc. (b) (c)		201,038		7,251,441
PPG Industries, Inc. (a)		566,922		63,988,486
Sherwin-Williams Co. (The)		73,367		31,599,901
				104,466,379
Consumer Finance—0.7%
American Express Co.		234,225		25,600,792
Diversified Telecommunication Services—0.5%
Verizon Communications, Inc. (a)		297,521		17,592,417
Electric Utilities—4.5%
Duke Energy Corp.		690,069		62,106,210
FirstEnergy Corp. (a)		626,949		26,087,348
Southern Co. (The) (a)		957,983		49,508,561
Xcel Energy, Inc. (a)		293,485		16,496,792
				154,198,911
Electrical Equipment—1.2%
Eaton Corp. plc		495,917		39,951,073
Energy Equipment & Services—1.2%
Schlumberger, Ltd.		944,318		41,143,935
Equity Real Estate Investment Trusts—0.4%
Public Storage		60,523		13,180,699
Food Products—4.1%
Archer-Daniels-Midland Co.		425,057		18,332,708
Danone S.A.		205,417		15,844,605
General Mills, Inc. (a)		640,764		33,159,537
J.M. Smucker Co. (The) (a)		123,705		14,411,633
Nestle S.A.		596,958		56,971,793
				138,720,276
Health Care Equipment & Supplies—5.8%
Abbott Laboratories		579,637		46,336,182
Danaher Corp.		458,393		60,517,044
Medtronic plc		993,615		90,498,454
				197,351,680
Health Care Providers & Services—2.0%
Cigna Corp. (a)		294,649		47,385,452
McKesson Corp.		185,596		21,725,868
				69,111,320
Household Products—1.2%
Colgate-Palmolive Co.		103,883		7,120,141
Kimberly-Clark Corp.		94,588		11,719,453
Procter & Gamble Co. (The)		67,808		7,055,423
Reckitt Benckiser Group plc		202,010		16,833,018
				42,728,035
Industrial Conglomerates—3.2%
3M Co. (a)		195,538		40,628,886
Honeywell International, Inc.		436,859		69,425,632
				110,054,518
Insurance—7.4%
Aon plc		439,758		75,066,691
Chubb, Ltd.		532,400		74,578,592
Prudential Financial, Inc. (a)		205,889		18,917,081

BHFTII-238

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Travelers Cos., Inc. (The)		618,694	$	84,860,069
				253,422,433
IT Services—6.8%
Accenture plc - Class A		622,296		109,536,542
Amdocs, Ltd.		125,684		6,800,761
Cognizant Technology Solutions Corp. - Class A		240,489		17,423,428
DXC Technology Co.		214,191		13,774,623
Fidelity National Information Services, Inc.		371,555		42,022,871
Fiserv, Inc. (a) (b)		503,786		44,474,228
				234,032,453
Life Sciences Tools & Services—1.4%
Thermo Fisher Scientific, Inc.		169,930		46,513,240
Machinery—3.5%
Illinois Tool Works, Inc. (a)		338,352		48,563,663
Ingersoll-Rand plc		306,399		33,075,772
Stanley Black & Decker, Inc. (a)		269,766		36,734,036
				118,373,471
Media—4.0%
Comcast Corp. - Class A		2,425,293		96,963,214
Omnicom Group, Inc. (a)		553,616		40,408,432
				137,371,646
Oil, Gas & Consumable Fuels—3.3%
Chevron Corp.		250,983		30,916,086
EOG Resources, Inc.		273,536		26,035,157
Exxon Mobil Corp.		364,015		29,412,412
Occidental Petroleum Corp.		261,341		17,300,774
Pioneer Natural Resources Co.		52,000		7,918,560
				111,582,989
Pharmaceuticals—7.9%
Johnson & Johnson		894,549		125,049,005
Merck & Co., Inc.		479,880		39,911,620
Novartis AG		92,664		8,918,329
Pfizer, Inc.		1,928,452		81,901,356
Roche Holding AG		54,219		14,945,985
				270,726,295
Professional Services—0.8%
Equifax, Inc. (a)		232,094		27,503,139
Road & Rail—1.9%
Canadian National Railway Co. (a)		238,428		21,334,537
Union Pacific Corp.		260,479		43,552,089
				64,886,626
Semiconductors & Semiconductor Equipment—2.7%
Analog Devices, Inc.		248,029		26,110,013

Security Description	Shares/ Principal Amount*		Value
Semiconductors & Semiconductor Equipment—(Continued)
Texas Instruments, Inc.		611,142	$	64,823,832
				90,933,845
Textiles, Apparel & Luxury Goods—0.2%
Hanesbrands, Inc.		385,749		6,897,192
Tobacco—2.4%
Altria Group, Inc.		357,659		20,540,356
Philip Morris International, Inc.		684,650		60,516,214
				81,056,570
Trading Companies & Distributors—0.2%
HD Supply Holdings, Inc. (b)		170,192		7,377,823
Total Common Stocks (Cost $2,590,654,627)				3,393,671,121
Short-Term Investment—0.7%
Repurchase Agreement—0.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $22,437,114; collateralized by U.S. Treasury Note at 2.875%, maturing 11/15/21, with a market value of $22,885,268.		22,434,871		22,434,871
Total Short-Term Investments (Cost $22,434,871)				22,434,871
Securities Lending Reinvestments (d)—12.0%
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (e)		4,000,000		4,000,000
Certificates of Deposit—8.6%
ABN AMRO Bank NV Zero Coupon, 07/05/19		3,964,930		3,972,080
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (e)		5,000,000		5,001,775
Banco Santander S.A. 2.790%, 04/16/19		5,000,000		5,000,855
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (e)		10,000,000		10,009,660
Bank of Nova Scotia
2.860%, SOFR + 0.430%, 05/16/19 (e)		2,000,000		1,999,999
2.967%, 3M LIBOR + 0.170%, 01/09/20 (e)		5,000,000		5,000,280
Barclays Bank plc 2.950%, 08/02/19		10,000,000		10,002,700
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (e)		5,000,000		4,999,970
Canadian Imperial Bank of Commerce
2.734%, 1M LIBOR + 0.250%, 10/15/19 (e)		4,000,000		4,003,280
2.752%, 1M LIBOR + 0.270%, 07/19/19 (e)		3,000,000		3,001,833

BHFTII-239

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (e)		5,000,000	$	5,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (e)		2,500,000		2,500,615
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (e)		10,000,000		10,004,430
2.995%, 3M LIBOR + 0.200%, 04/05/19 (e)		4,000,000		4,000,268
Credit Agricole S.A.
2.698%, 1M LIBOR + 0.210%, 12/20/19 (e)		10,000,000		10,000,520
2.807%, 1M LIBOR + 0.320%, 05/21/19 (e)		4,000,000		4,001,032
Credit Suisse AG
2.620%, 04/01/19		5,000,000		5,000,070
2.860%, SOFR + 0.430%, 05/02/19 (e)		5,000,000		5,000,000
HSBC Bank USA, N.A. 2.738%, 3M LIBOR, 08/05/19 (e)		9,000,000		8,999,192
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		11,000,000		11,000,924
KBC Bank NV Zero Coupon, 04/23/19		7,945,172		7,988,640
Mitsubishi UFJ Trust and Banking Corp.
Zero Coupon, 04/16/19		6,951,686		6,991,460
Zero Coupon, 05/08/19		1,986,147		1,994,420
Zero Coupon, 06/13/19		1,986,748		1,989,485
2.643%, 1M LIBOR + 0.150%, 09/11/19 (e)		5,000,000		4,999,990
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		4,966,855		4,979,239
Mizuho Bank, Ltd., New York 2.652%, 1M LIBOR + 0.160%, 09/12/19 (e)		6,000,000		6,000,000
MUFG Bank Ltd.
2.789%, 1M LIBOR + 0.300%, 05/01/19 (e)		2,000,000		2,000,358
2.800%, 07/16/19		4,000,000		4,002,472
Nationwide Building Society Zero Coupon, 06/24/19		9,907,587		9,936,889
Natixis New York 2.803%, 3M LIBOR + 0.070%, 11/01/19 (e)		3,000,000		2,999,991
Nordea Bank New York 2.995%, 3M LIBOR + 0.200%, 04/05/19 (e)		4,000,000		4,001,734
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (e)		7,000,000		7,003,934
Shizuoka Bank, Ltd. 2.600%, 05/07/19		4,000,000		4,000,180
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (e)		10,000,000		10,000,660
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (e)		10,011,538		10,005,680
2.899%, 3M LIBOR + 0.160%, 05/07/19 (e)		5,000,000		5,001,260
Standard Chartered plc 2.660%, 08/23/19		5,000,000		5,000,890
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (e)		18,000,000		18,004,122
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (e)		8,000,000		8,000,304
Sumitomo Mitsui Banking Corp., New York 2.690%, 1M LIBOR + 0.200%, 04/03/19 (e)		2,000,016		2,000,032
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		1,981,134		1,992,760
Zero Coupon, 08/06/19		986,338		990,660
Certificates of Deposit—(Continued)
Sumitomo Mitsui Trust Bank, Ltd.
2.600%, 07/05/19		10,000,000		10,000,510
2.904%, 3M LIBOR + 0.100%, 07/08/19 (e)		5,000,000		4,999,990
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (e)		3,500,000		3,503,965
2.851%, 3M LIBOR + 0.100%, 04/30/19 (e)		2,000,000		2,000,540
2.940%, 1M LIBOR + 0.450%, 04/03/19 (e)		5,000,000		5,000,275
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (e)		5,000,000		5,002,570
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (e)		15,000,000		14,999,914
				293,892,407
Commercial Paper—1.7%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (e)		4,000,000		4,000,052
Bank of China, Ltd.
2.890%, 04/17/19		8,934,975		8,987,211
2.890%, 04/18/19		2,979,288		2,995,506
Barton Capital S.A. 2.650%, 05/02/19		2,483,438		2,493,950
China Construction Bank Corp.
2.840%, 04/29/19		4,962,922		4,988,950
2.860%, 04/18/19		1,985,700		1,997,162
Fairway Finance Corp. 2.600%, 05/07/19		4,966,778		4,986,115
First Abu Dhabi Bank 2.750%, 04/16/19		2,979,375		2,996,229
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (e)		5,000,000		5,000,000
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (e)		7,000,000		7,000,973
LMA S.A. & LMA Americas, Corp. 2.750%, 08/05/19		2,958,292		2,971,506
Toyota Motor Credit Corp. 2.620%, 08/29/19		9,871,183		9,891,150
				58,308,804
Repurchase Agreements—1.0%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $4,031,438; collateralized by various Common Stock with an aggregate market value of $4,401,104.		4,000,000		4,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $8,021,778; collateralized by various Common Stock with an aggregate market value of $8,800,001.		8,000,000		8,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $3,208,711; collateralized by various Common Stock with an aggregate market value of $3,520,000.		3,200,000		3,200,000

BHFTII-240

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Citigroup Global Markets, Ltd. Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $13,788; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $14,061.		13,785	$	13,785
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $300,063; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $306,000.		300,000		300,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $1,725,442; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $1,759,581.		1,725,079		1,725,079
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $5,253,618; collateralized by various Common Stock with an aggregate market value of $5,500,003.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $3,627,730; collateralized by various Common Stock with an aggregate market value of $3,960,000.		3,600,000		3,600,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $907,132; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $964,220.		900,000		900,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $3,001,517; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $3,248,892.		3,000,000		3,000,000
Societe Generale
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $3,182,349; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,447,825.		3,100,000		3,100,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/21/18 at 2.510%, due on 04/01/19 with a maturity value of $2,052,431; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $2,224,403.		2,000,000		2,000,000
				34,838,864
Time Deposits—0.6%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		10,000,000		10,000,000
DNB Bank ASA 2.350%, 04/01/19		1,000,000		1,000,000
Natixis New York 2.400%, 04/01/19		5,000,000		5,000,000
Svenska, New York 2.360%, 04/01/19		5,000,000		5,000,000
				22,000,000
Total Securities Lending Reinvestments (Cost $412,989,741)				413,040,075
Total Investments—112.0% (Cost $3,026,079,239)				3,829,146,067
Other assets and liabilities (net)—(12.0)%				(410,791,857	)
Net Assets—100.0%			$	3,418,354,210

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $405,559,039 and the collateral received consisted of cash in the amount of $412,648,966. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Illiquid security. As of March 31, 2019, these securities represent 0.3% of net assets.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-241

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	126,266,913	$	—		$	—	$	126,266,913
Air Freight & Logistics		19,474,382		—			—		19,474,382
Auto Components		35,830,784		—			—		35,830,784
Automobiles		3,882,268		—			—		3,882,268
Banks		451,716,383		—			—		451,716,383
Beverages		18,432,378		46,318,941			—		64,751,319
Building Products		60,507,572		—			—		60,507,572
Capital Markets		226,463,743		—			—		226,463,743
Chemicals		104,466,379		—			—		104,466,379
Consumer Finance		25,600,792		—			—		25,600,792
Diversified Telecommunication Services		17,592,417		—			—		17,592,417
Electric Utilities		154,198,911		—			—		154,198,911
Electrical Equipment		39,951,073		—			—		39,951,073
Energy Equipment & Services		41,143,935		—			—		41,143,935
Equity Real Estate Investment Trusts		13,180,699		—			—		13,180,699
Food Products		65,903,878		72,816,398			—		138,720,276
Health Care Equipment & Supplies		197,351,680		—			—		197,351,680
Health Care Providers & Services		69,111,320		—			—		69,111,320
Household Products		25,895,017		16,833,018			—		42,728,035
Industrial Conglomerates		110,054,518		—			—		110,054,518
Insurance		253,422,433		—			—		253,422,433
IT Services		234,032,453		—			—		234,032,453
Life Sciences Tools & Services		46,513,240		—			—		46,513,240
Machinery		118,373,471		—			—		118,373,471
Media		137,371,646		—			—		137,371,646
Oil, Gas & Consumable Fuels		111,582,989		—			—		111,582,989
Pharmaceuticals		246,861,981		23,864,314			—		270,726,295
Professional Services		27,503,139		—			—		27,503,139
Road & Rail		64,886,626		—			—		64,886,626
Semiconductors & Semiconductor Equipment		90,933,845		—			—		90,933,845
Textiles, Apparel & Luxury Goods		6,897,192		—			—		6,897,192
Tobacco		81,056,570		—			—		81,056,570
Trading Companies & Distributors		7,377,823		—			—		7,377,823
Total Common Stocks		3,233,838,450		159,832,671			—		3,393,671,121
Total Short-Term Investment*		—		22,434,871			—		22,434,871
Total Securities Lending Reinvestments*		—		413,040,075			—		413,040,075
Total Investments	$	3,233,838,450	$	595,307,617		$	—	$	3,829,146,067
Collateral for Securities Loaned (Liability)	$	—	$	(412,648,966	)	$	—	$	(412,648,966	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-242

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—99.1% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.3%
Astronics Corp. (a)		104,361	$	3,414,692
Air Freight & Logistics—0.6%
Forward Air Corp.		89,781		5,811,524
Airlines—0.6%
Allegiant Travel Co.		48,905		6,331,730
Auto Components—2.2%
Fox Factory Holding Corp. (a)		226,700		15,844,063
LCI Industries		92,075		7,073,201
				22,917,264
Automobiles—0.2%
Thor Industries, Inc.		38,140		2,378,792
Banks—11.0%
Bank of Hawaii Corp.		186,580		14,715,565
Bank OZK		252,251		7,310,234
BOK Financial Corp.		108,762		8,869,541
Columbia Banking System, Inc.		248,965		8,138,666
Community Bank System, Inc.		143,572		8,581,298
Cullen/Frost Bankers, Inc.		130,298		12,648,027
CVB Financial Corp.		549,460		11,566,133
First Financial Bankshares, Inc.		222,680		12,866,450
First Hawaiian, Inc.		388,315		10,115,606
Glacier Bancorp, Inc.		159,625		6,396,174
Lakeland Financial Corp.		79,250		3,583,685
LegacyTexas Financial Group, Inc.		180,955		6,765,907
PacWest Bancorp		70,898		2,666,474
				114,223,760
Beverages—0.7%
MGP Ingredients, Inc.		87,630		6,760,655
Biotechnology—1.0%
Abcam plc		211,790		3,132,328
Emergent BioSolutions, Inc. (a)		141,220		7,134,434
				10,266,762
Building Products—1.9%
A.O. Smith Corp.		117,855		6,284,028
AAON, Inc.		256,822		11,860,040
Patrick Industries, Inc. (a)		42,152		1,910,329
				20,054,397
Capital Markets—3.5%
Artisan Partners Asset Management, Inc. - Class A		122,965		3,095,029
BrightSphere Investment Group plc		391,450		5,308,062
FactSet Research Systems, Inc.		29,445		7,310,310
Houlihan Lokey, Inc.		112,300		5,148,955
MarketAxess Holdings, Inc.		62,320		15,335,706
				36,198,062
Chemicals—3.0%
Chase Corp.		51,155		4,733,884
Ingevity Corp. (a)		49,725		5,251,457
NewMarket Corp.		12,727		5,517,918
Quaker Chemical Corp.		49,590		9,934,365
Sensient Technologies Corp.		80,580		5,462,518
				30,900,142
Commercial Services & Supplies—3.1%
MSA Safety, Inc.		99,300		10,267,620
Rollins, Inc.		403,015		16,773,484
UniFirst Corp.		34,980		5,369,430
				32,410,534
Communications Equipment—1.2%
NetScout Systems, Inc. (a)		431,855		12,122,170
Construction & Engineering—0.8%
Valmont Industries, Inc.		63,165		8,217,767
Construction Materials—1.2%
Eagle Materials, Inc.		148,700		12,535,410
Containers & Packaging—1.2%
AptarGroup, Inc.		120,254		12,793,823
Distributors—2.5%
Pool Corp.		155,125		25,590,971
Diversified Consumer Services—1.3%
Bright Horizons Family Solutions, Inc. (a)		106,365		13,520,055
Electrical Equipment—0.5%
AZZ, Inc.		132,920		5,440,416
Electronic Equipment, Instruments & Components—7.0%
Cognex Corp.		223,820		11,383,485
Littelfuse, Inc.		81,160		14,810,077
nLight, Inc. (a)		111,450		2,483,106
Novanta, Inc. (a)		135,885		11,513,536
Rogers Corp. (a)		123,245		19,581,166
Zebra Technologies Corp. - Class A (a)		60,897		12,759,748
				72,531,118
Energy Equipment & Services—1.6%
Apergy Corp. (a)		125,725		5,162,268
Cactus, Inc. - Class A (a)		145,155		5,167,518
Computer Modelling Group, Ltd.		72,710		331,994
Pason Systems, Inc.		428,425		6,270,900
				16,932,680
Food Products—2.4%
Calavo Growers, Inc.		82,560		6,922,656
J&J Snack Foods Corp.		41,074		6,524,194
Lancaster Colony Corp.		69,820		10,940,096
				24,386,946

BHFTII-243

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Equipment & Supplies—7.0%
Atrion Corp.		9,905	$	8,703,326
Cantel Medical Corp.		122,182		8,172,754
Haemonetics Corp. (a)		118,876		10,399,273
Heska Corp. (a)		40,345		3,434,166
IDEXX Laboratories, Inc. (a)		78,245		17,495,582
Neogen Corp. (a)		65,790		3,775,688
West Pharmaceutical Services, Inc.		181,986		20,054,857
				72,035,646
Health Care Providers & Services—2.7%
Chemed Corp.		46,660		14,934,466
Henry Schein, Inc. (a)		93,360		5,611,870
U.S. Physical Therapy, Inc.		65,780		6,908,873
				27,455,209
Hotels, Restaurants & Leisure—0.9%
Texas Roadhouse, Inc.		155,905		9,695,732
Household Durables—0.3%
Installed Building Products, Inc. (a)		55,340		2,683,990
Household Products—2.4%
Church & Dwight Co., Inc.		216,120		15,394,228
WD-40 Co.		54,050		9,158,232
				24,552,460
Industrial Conglomerates—0.4%
Raven Industries, Inc.		108,404		4,159,461
Insurance—1.5%
AMERISAFE, Inc.		74,385		4,418,469
RLI Corp.		148,000		10,619,000
				15,037,469
IT Services—1.3%
Jack Henry & Associates, Inc.		95,660		13,271,868
Life Sciences Tools & Services—2.6%
Bio-Techne Corp.		98,640		19,584,972
ICON plc (a)		53,512		7,308,669
				26,893,641
Machinery—5.7%
Graco, Inc.		140,865		6,975,635
Kadant, Inc.		8,860		779,326
Lindsay Corp.		49,705		4,810,947
Middleby Corp. (The) (a)		74,915		9,741,197
Nordson Corp.		68,997		9,143,482
RBC Bearings, Inc. (a)		108,435		13,789,679
Toro Co. (The)		205,275		14,131,131
				59,371,397
Media—3.5%
Cable One, Inc.		7,470		7,330,908
Media—(Continued)
Gray Television, Inc. (a)		334,980		7,155,173
Nexstar Media Group, Inc. - Class A		202,610		21,956,846
				36,442,927
Multiline Retail—0.4%
Ollie’s Bargain Outlet Holdings, Inc. (a)		47,635		4,064,695
Oil, Gas & Consumable Fuels—2.0%
Centennial Resource Development, Inc. - Class A (a)		827,080		7,270,033
Matador Resources Co. (a)		346,080		6,689,727
WPX Energy, Inc. (a)		512,255		6,715,663
				20,675,423
Paper & Forest Products—0.8%
Stella-Jones, Inc.		252,950		8,548,076
Professional Services—1.5%
Exponent, Inc.		274,622		15,851,182
Real Estate Management & Development—0.8%
FirstService Corp.		87,275		7,797,149
Semiconductors & Semiconductor Equipment—3.2%
Cabot Microelectronics Corp.		80,575		9,021,177
MKS Instruments, Inc.		104,340		9,708,837
Power Integrations, Inc.		209,360		14,642,638
				33,372,652
Software—9.6%
Altair Engineering, Inc. - Class A (a)		144,125		5,305,241
Aspen Technology, Inc. (a)		228,200		23,792,132
Fair Isaac Corp. (a)		78,390		21,293,076
Manhattan Associates, Inc. (a)		326,796		18,009,728
Qualys, Inc. (a)		172,115		14,240,795
Tyler Technologies, Inc. (a)		80,100		16,372,440
				99,013,412
Specialty Retail—3.1%
Asbury Automotive Group, Inc. (a)		62,430		4,330,145
Floor & Decor Holdings, Inc. - Class A (a)		138,165		5,695,161
Lithia Motors, Inc. - Class A		78,650		7,294,787
Monro, Inc.		99,480		8,607,010
Tractor Supply Co.		65,520		6,405,235
				32,332,338
Trading Companies & Distributors—1.6%
Applied Industrial Technologies, Inc.		39,111		2,325,931
Richelieu Hardware, Ltd.		155,530		2,757,141
SiteOne Landscape Supply, Inc. (a)		71,330		4,076,510
Watsco, Inc.		54,375		7,787,044
				16,946,626
Total Common Stocks (Cost $667,420,779)				1,025,941,023

BHFTII-244

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Short-Term Investment—0.9%

Security Description	Principal Amount*		Value
Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $9,642,106; collateralized by U.S. Treasury Note at 2.125%, maturing 12/31/21, with a market value of $9,836,072.		9,641,141	$	9,641,141
Total Short-Term Investments (Cost $9,641,141)				9,641,141
Total Investments—100.0% (Cost $677,061,920)				1,035,582,164
Other assets and liabilities (net)—0.0%				(269,715	)
Net Assets—100.0%			$	1,035,312,449

*	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. A reconciliation of Level 3 securities, if any, will be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	3,414,692	$	—	$	—	$	3,414,692
Air Freight & Logistics		5,811,524		—		—		5,811,524
Airlines		6,331,730		—		—		6,331,730
Auto Components		22,917,264		—		—		22,917,264
Automobiles		2,378,792		—		—		2,378,792
Banks		114,223,760		—		—		114,223,760
Beverages		6,760,655		—		—		6,760,655
Biotechnology		10,266,762		—		—		10,266,762
Building Products		20,054,397		—		—		20,054,397
Capital Markets		36,198,062		—		—		36,198,062
Chemicals		30,900,142		—		—		30,900,142
Commercial Services & Supplies		32,410,534		—		—		32,410,534
Communications Equipment		12,122,170		—		—		12,122,170
Construction & Engineering		8,217,767		—		—		8,217,767
Construction Materials		12,535,410		—		—		12,535,410
Containers & Packaging		12,793,823		—		—		12,793,823
Distributors		25,590,971		—		—		25,590,971
Diversified Consumer Services		13,520,055		—		—		13,520,055
Electrical Equipment		5,440,416		—		—		5,440,416
Electronic Equipment, Instruments & Components		72,531,118		—		—		72,531,118
Energy Equipment & Services		16,932,680		—		—		16,932,680

BHFTII-245

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Food Products	$	24,386,946	$	—	$	—	$	24,386,946
Health Care Equipment & Supplies		72,035,646		—		—		72,035,646
Health Care Providers & Services		27,455,209		—		—		27,455,209
Hotels, Restaurants & Leisure		9,695,732		—		—		9,695,732
Household Durables		2,683,990		—		—		2,683,990
Household Products		24,552,460		—		—		24,552,460
Industrial Conglomerates		4,159,461		—		—		4,159,461
Insurance		15,037,469		—		—		15,037,469
IT Services		13,271,868		—		—		13,271,868
Life Sciences Tools & Services		26,893,641		—		—		26,893,641
Machinery		59,371,397		—		—		59,371,397
Media		36,442,927		—		—		36,442,927
Multiline Retail		4,064,695		—		—		4,064,695
Oil, Gas & Consumable Fuels		20,675,423		—		—		20,675,423
Paper & Forest Products		—		8,548,076		—		8,548,076
Professional Services		15,851,182		—		—		15,851,182
Real Estate Management & Development		7,797,149		—		—		7,797,149
Semiconductors & Semiconductor Equipment		33,372,652		—		—		33,372,652
Software		99,013,412		—		—		99,013,412
Specialty Retail		32,332,338		—		—		32,332,338
Trading Companies & Distributors		14,189,485		2,757,141		—		16,946,626
Total Common Stocks		1,014,635,806		11,305,217		—		1,025,941,023
Total Short-Term Investment*		—		9,641,141		—		9,641,141
Total Investments	$	1,014,635,806	$	20,946,358	$	—	$	1,035,582,164

* See Schedule of Investments for additional detailed categorizations.

BHFTII-246

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—96.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.6%
Boeing Co. (The)		235,340	$	89,763,383
Northrop Grumman Corp. (a)		69,631		18,772,518
				108,535,901
Auto Components—1.0%
Aptiv plc		282,199		22,431,999
Automobiles—0.8%
Ferrari NV		141,932		18,990,502
Biotechnology—2.1%
Alexion Pharmaceuticals, Inc. (d)		94,875		12,825,202
Vertex Pharmaceuticals, Inc. (d)		197,462		36,323,135
				49,148,337
Capital Markets—3.5%
Charles Schwab Corp. (The)		579,374		24,774,032
Intercontinental Exchange, Inc.		187,634		14,286,453
Morgan Stanley		286,561		12,092,874
S&P Global, Inc.		18,400		3,874,120
TD Ameritrade Holding Corp. (a)		528,823		26,435,862
				81,463,341
Chemicals—0.6%
DowDuPont, Inc.		266,058		14,183,552
Electric Utilities—0.7%
NextEra Energy, Inc. (a)		82,600		15,968,232
Entertainment—3.7%
Electronic Arts, Inc. (d)		193,112		19,625,973
Netflix, Inc. (d)		108,108		38,546,988
Walt Disney Co. (The)		258,259		28,674,497
				86,847,458
Equity Real Estate Investment Trusts—0.5%
Crown Castle International Corp.		84,861		10,862,208
Health Care Equipment & Supplies—5.5%
Becton Dickinson & Co.		174,156		43,491,978
Intuitive Surgical, Inc. (d)		66,329		37,846,001
Stryker Corp. (a)		239,407		47,287,670
				128,625,649
Health Care Providers & Services—6.9%
Anthem, Inc.		110,489		31,708,133
Centene Corp. (d)		294,952		15,661,951
Cigna Corp. (d)		153,084		24,618,969
HCA Healthcare, Inc.		80,751		10,528,315
Humana, Inc. (a)		27,600		7,341,600
UnitedHealth Group, Inc.		226,142		55,915,871
WellCare Health Plans, Inc. (d)		56,417		15,218,486
				160,993,325
Hotels, Restaurants & Leisure—2.7%
Las Vegas Sands Corp.		269,405		16,422,929
McDonald’s Corp.		80,889		15,360,821
MGM Resorts International (a)		415,100		10,651,466
Wynn Resorts, Ltd.		171,501		20,463,499
				62,898,715
Household Durables—0.4%
NVR, Inc. (d)		3,298		9,125,566
Industrial Conglomerates—1.7%
Honeywell International, Inc.		68,742		10,924,479
Roper Technologies, Inc. (a)		83,999		28,725,138
				39,649,617
Insurance—0.7%
Chubb, Ltd.		116,097		16,262,868
Interactive Media & Services—13.9%
Alphabet, Inc. - Class A (d)		60,770		71,519,605
Alphabet, Inc. - Class C (d)		59,338		69,621,869
Facebook, Inc. - Class A (d)		720,753		120,142,318
IAC/InterActiveCorp (d)		72,554		15,244,321
Tencent Holdings, Ltd.		1,099,085		50,537,660
				327,065,773
Internet & Direct Marketing Retail—12.2%
Alibaba Group Holding, Ltd. (ADR) (a) (d)		263,074		47,997,851
Amazon.com, Inc. (d)		114,448		203,803,276
Booking Holdings, Inc. (d)		16,850		29,401,734
MercadoLibre, Inc. (d)		11,970		6,077,528
				287,280,389
IT Services—10.9%
Fidelity National Information Services, Inc.		160,900		18,197,790
Fiserv, Inc. (a) (d)		237,289		20,947,873
MasterCard, Inc. - Class A		295,775		69,640,224
PayPal Holdings, Inc. (d)		245,904		25,534,671
Visa, Inc. - Class A (a)		523,608		81,782,334
Worldpay, Inc. - Class A (d)		338,271		38,393,758
				254,496,650
Machinery—1.6%
Fortive Corp. (a)		280,255		23,510,592
Wabtec Corp. (a)		177,501		13,085,374
				36,595,966
Multi-Utilities—0.8%
Sempra Energy (a)		157,478		19,820,181
Multiline Retail—1.6%
Dollar General Corp.		63,043		7,521,030
Dollar Tree, Inc. (d)		182,345		19,153,519
Dollarama, Inc.		441,751		11,784,654
				38,459,203

BHFTII-247

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Pharmaceuticals—0.3%
Elanco Animal Health, Inc. (d)		31,471	$	1,009,275
Eli Lilly & Co.		44,325		5,751,612
				6,760,887
Professional Services—1.4%
Equifax, Inc. (a)		93,466		11,075,721
TransUnion		314,292		21,007,277
				32,082,998
Real Estate Management & Development—0.0%
WeWork Cos., Inc. - Class A (b) (c) (d) (e)		2,563		131,482
Semiconductors & Semiconductor Equipment—1.8%
ASML Holding NV		102,000		19,181,100
NVIDIA Corp. (a)		135,100		24,258,556
				43,439,656
Software—13.8%
Intuit, Inc.		136,521		35,687,955
Microsoft Corp.		1,042,464		122,948,204
Red Hat, Inc. (d)		130,734		23,885,102
Salesforce.com, Inc. (d)		190,393		30,152,539
ServiceNow, Inc. (d)		58,507		14,421,390
Splunk, Inc. (a) (d)		140,514		17,508,044
Symantec Corp.		1,334,353		30,676,775
UBER Technologies, Inc. - Class A (b) (c) (d) (e)		4,669		227,718
VMware, Inc. - Class A		135,474		24,454,412
Workday, Inc. - Class A (a) (d)		121,928		23,513,815
				323,475,954
Technology Hardware, Storage & Peripherals—0.7%
Apple, Inc.		92,753		17,618,432
Textiles, Apparel & Luxury Goods—1.1%
NIKE, Inc. - Class B		304,197		25,616,429
Tobacco—1.2%
Philip Morris International, Inc.		323,156		28,563,759
Total Common Stocks (Cost $1,595,846,388)				2,267,395,029
Convertible Preferred Stocks—1.8%
Automobiles—0.1%
Aurora Innovation, Inc. - Series B (b) (c) (d) (e)		20,525		1,896,571
Internet & Direct Marketing Retail—1.1%
Airbnb, Inc. - Series D (b) (c) (d) (e)		97,047		12,368,640
Airbnb, Inc. - Series E (b) (c) (d) (e)		9,760		1,243,912
ANT International Co., Ltd. - Class C (b) (c) (d) (e)		1,458,697		8,183,290
Xiaoju Kuaizhi, Inc. - Series A-17 (b) (c) (d) (e)		91,053		4,369,634
				26,165,476
Security Description	Shares/ Principal Amount*		Value
Real Estate Management & Development—0.1%
WeWork Cos., Inc. - Series E (b) (c) (d) (e)		64,744		3,321,367
Software—0.5%
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-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
UBER Technologies, Inc. - Series C-1 (b) (c) (d) (e)		472		23,020
				10,914,720
Total Convertible Preferred Stocks (Cost $29,898,161)				42,298,134
Short-Term Investment—1.4%
Mutual Fund—1.4%
T. Rowe Price Government Reserve Fund (f)		33,693,596		33,693,596
Total Short-Term Investments (Cost $33,693,596)				33,693,596
Securities Lending Reinvestments (g)—12.1%
Bank Note—0.1%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (h)		2,000,000		2,000,000
Certificates of Deposit—7.3%
ABN AMRO Bank NV Zero Coupon, 07/05/19		3,964,930		3,972,080
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (h)		6,000,000		6,005,796
Bank of Nova Scotia 2.967%, 3M LIBOR + 0.170%, 01/09/20 (h)		5,000,000		5,000,280
Barclays Bank plc 2.950%, 08/02/19		10,000,000		10,002,700
BNP Paribas S.A. New York 2.624%, 1M LIBOR + 0.140%, 09/16/19 (h)		1,000,000		999,994
Canadian Imperial Bank of Commerce 2.734%, 1M LIBOR + 0.250%, 10/15/19 (h)		6,000,000		6,004,920
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (h)		2,000,000		2,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (h)		2,000,000		2,000,492
Cooperative Rabobank UA
2.933%, 3M LIBOR + 0.150%, 01/08/20 (h)		5,000,000		5,002,215
2.995%, 3M LIBOR + 0.200%, 04/05/19 (h)		2,000,000		2,000,134
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (h)		7,000,000		7,000,364

BHFTII-248

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Credit Suisse AG
2.620%, 04/01/19		3,000,000	$	3,000,042
2.860%, SOFR + 0.430%, 05/02/19 (h)		1,000,000		1,000,000
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (h)		4,000,000		3,999,641
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		4,000,000		4,000,336
KBC Bank NV Zero Coupon, 04/23/19		9,931,465		9,985,800
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		993,371		995,848
Mizuho Bank, Ltd., New York 2.652%, 1M LIBOR + 0.160%, 09/12/19 (h)		3,000,000		3,000,000
MUFG Bank Ltd. 2.789%, 1M LIBOR + 0.300%, 05/01/19 (h)		2,000,000		2,000,358
Nationwide Building Society Zero Coupon, 06/24/19		5,944,552		5,962,133
Natixis New York
2.788%, 3M LIBOR + 0.090%, 05/10/19 (h)		2,500,000		2,500,535
2.803%, 3M LIBOR + 0.070%, 11/01/19 (h)		2,000,000		1,999,994
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (h)		7,000,000		7,003,934
Shizuoka Bank, Ltd. 2.600%, 05/07/19		2,000,000		2,000,090
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (h)		6,000,000		6,000,396
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (h)		4,004,615		4,002,272
2.899%, 3M LIBOR + 0.160%, 05/07/19 (h)		2,000,000		2,000,504
Standard Chartered plc 2.660%, 08/23/19		10,000,000		10,001,780
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (h)		7,000,000		7,001,603
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (h)		4,000,000		4,000,152
Sumitomo Mitsui Banking Corp., New York
2.690%, 1M LIBOR + 0.200%, 04/03/19 (h)		2,000,016		2,000,032
2.692%, 1M LIBOR + 0.210%, 05/17/19 (h)		4,000,000		4,000,624
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		4,952,835		4,981,900
2.904%, 3M LIBOR + 0.100%, 07/08/19 (h)		5,000,000		4,999,990
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (h)		2,000,000		2,002,266
2.851%, 3M LIBOR + 0.100%, 04/30/19 (h)		2,000,000		2,000,540
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (h)		5,000,000		5,002,570
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (h)		1,000,000		1,000,410
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (h)		9,000,000		8,999,293
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (h)		5,000,000		4,999,971
				170,431,989
Commercial Paper—2.5%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (h)		4,000,000		4,000,052
Bank of China, Ltd.
2.890%, 04/17/19		8,934,975		8,987,211
2.890%, 04/18/19		2,482,740		2,496,255
China Construction Bank Corp.
2.840%, 04/29/19		1,985,169		1,995,580
Fairway Finance Corp. 2.600%, 05/07/19		1,986,711		1,994,446
First Abu Dhabi Bank 2.750%, 04/16/19		1,986,250		1,997,486
Industrial & Commercial Bank of China, Corp. 2.880%, 04/18/19		4,964,000		4,992,605
ING Funding LLC
2.778%, 3M LIBOR + 0.040%, 11/04/19 (h)		10,000,000		10,001,390
2.807%, 3M LIBOR + 0.110%, 05/10/19 (h)		2,000,000		2,000,494
Matchpoint Finance plc
2.450%, 04/01/19		1,999,592		1,999,562
2.890%, 05/08/19		4,927,349		4,985,295
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (h)		1,000,000		1,000,000
Toyota Motor Credit Corp. 2.620%, 08/29/19		9,871,183		9,891,150
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (h)		3,000,000		3,001,281
				59,342,807
Repurchase Agreements—1.7%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $10,078,594; collateralized by various Common Stock with an aggregate market value of $11,002,760.		10,000,000		10,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,504,083; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $3,509,528; collateralized by various Common Stock with an aggregate market value of $3,850,001.		3,500,000		3,500,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $51,750; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $52,774.		51,739		51,739
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $49,163; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $50,135.		49,152		49,152

BHFTII-249

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $500,104; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $510,000.		500,000	$	500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $5,001,146; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $271,798; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $277,176.		271,741		271,741
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $7,880,427; collateralized by various Common Stock with an aggregate market value of $8,250,005.		7,500,000		7,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $1,310,301; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,392,763.		1,300,000		1,300,000
Societe Generale
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $6,121,317; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $6,673,210.		6,000,000		6,000,000
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $4,003,600; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $4,337,587.		3,900,000		3,900,000
				39,572,632
Time Deposits—0.5%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
Natixis New York 2.400%, 04/01/19		7,000,000		7,000,000
Time Deposits—(Continued)
Skandi New York 2.380%, 04/01/19		1,000,000		1,000,000
				11,000,000
Total Securities Lending Reinvestments (Cost $282,312,548)				282,347,428
Total Investments—112.0% (Cost $1,941,750,693)				2,625,734,187
Other assets and liabilities (net)—(12.0)%				(281,793,709	)
Net Assets—100.0%			$	2,343,940,478

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $279,773,768 and the collateral received consisted of cash in the amount of $282,002,386. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2019, the market value of restricted securities was $42,657,334, which is 1.8% of net assets. See details shown in the Restricted Securities table that follows.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent 1.8% of net assets.
(d)	Non-income producing security.
(e)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(f)	Affiliated Issuer.
(g)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(h)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-250

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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		12,368,640
Airbnb, Inc. - Series E		01/28/16		9,760		908,601		1,243,912
Aurora Innovation, Inc. - Series B		03/01/19		20,525		1,896,571		1,896,571
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. - Class 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		58,849		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		12/03/15		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		131,482
WeWork Cos., Inc. - Series E		06/23/15		64,744		2,129,402		3,321,367
Xiaoju Kuaizhi, Inc. - Series A-17		10/19/15		91,053		2,497,238		4,369,634
							$	42,657,334

BHFTII-251

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	108,535,901	$	—		$	—	$	108,535,901
Auto Components		22,431,999		—			—		22,431,999
Automobiles		18,990,502		—			—		18,990,502
Biotechnology		49,148,337		—			—		49,148,337
Capital Markets		81,463,341		—			—		81,463,341
Chemicals		14,183,552		—			—		14,183,552
Electric Utilities		15,968,232		—			—		15,968,232
Entertainment		86,847,458		—			—		86,847,458
Equity Real Estate Investment Trusts		10,862,208		—			—		10,862,208
Health Care Equipment & Supplies		128,625,649		—			—		128,625,649
Health Care Providers & Services		160,993,325		—			—		160,993,325
Hotels, Restaurants & Leisure		62,898,715		—			—		62,898,715
Household Durables		9,125,566		—			—		9,125,566
Industrial Conglomerates		39,649,617		—			—		39,649,617
Insurance		16,262,868		—			—		16,262,868
Interactive Media & Services		276,528,113		50,537,660			—		327,065,773
Internet & Direct Marketing Retail		287,280,389		—			—		287,280,389
IT Services		254,496,650		—			—		254,496,650
Machinery		36,595,966		—			—		36,595,966
Multi-Utilities		19,820,181		—			—		19,820,181
Multiline Retail		38,459,203		—			—		38,459,203
Pharmaceuticals		6,760,887		—			—		6,760,887
Professional Services		32,082,998		—			—		32,082,998
Real Estate Management & Development		—		—			131,482		131,482
Semiconductors & Semiconductor Equipment		43,439,656		—			—		43,439,656
Software		323,248,236		—			227,718		323,475,954
Technology Hardware, Storage & Peripherals		17,618,432		—			—		17,618,432
Textiles, Apparel & Luxury Goods		25,616,429		—			—		25,616,429
Tobacco		28,563,759		—			—		28,563,759
Total Common Stocks		2,216,498,169		50,537,660			359,200		2,267,395,029
Total Convertible Preferred Stocks*		—		—			42,298,134		42,298,134
Total Short-Term Investment*		33,693,596		—			—		33,693,596
Total Securities Lending Reinvestments*		—		282,347,428			—		282,347,428
Total Investments	$	2,250,191,765	$	332,885,088		$	42,657,334	$	2,625,734,187
Collateral for Securities Loaned (Liability)	$	—	$	(282,002,386	)	$	—	$	(282,002,386	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-252

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Investments in Securities	Balance as of December 31, 2018		Change in Unrealized Appreciation/ (Depreciation)			Purchases		Balance as of March 31, 2019		Change in Unrealized Appreciation/ (Depreciation) from Investments Held at March 31, 2019
Common Stocks
Real Estate Management & Development	$	132,789	$	(1,307	)	$	—	$	131,482	$	(1,307	)
Software		227,718		—			—		227,718		—
Convertible Preferred Stocks
Automobiles		—		—			1,896,571		1,896,571		—
Internet & Direct Marketing Retail		25,350,621		814,855			—		26,165,476		814,855
Real Estate Management & Development		3,354,386		(33,019	)				3,321,367		(33,019	)
Software		10,914,720		—			—		10,914,720		—
	$	39,980,234	$	780,529		$	1,896,571	$	42,657,334	$	780,529

	Fair Value at March 31, 2019		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	$	131,482		Market Transaction Method		Pending Tender Offer	$	54.00	$	54.00	$	54.00		Increase
						Discount for Lack of Marketability		5.00%		5.00%		5.00%		Decrease
Software		227,718		Market Transaction Method		Precedent Transaction	$	48.77	$	48.77	$	48.77		Increase
Convertible Preferred Stocks
Automobiles		1,896,571		Market Transaction Method		Precedent Transaction	$	92.40	$	92.40	$	92.40		Increase
Internet & Direct Marketing Retail		13,612,552		Discounted Cash Flow		Weighted Average Cost of Capital		14.00%		16.00%		15.00%		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		11.00%		11.00%		11.00%		Decrease
		8,183,290		Market Transaction Method		Precedent Transaction	$	5.61	$	5.61	$	5.61		Increase
		4,369,634		Market Transaction Method		Secondary Market Transaction	$	47.99	$	47.99	$	47.99		Increase
Real Estate Management & Development		3,321,367		Market Transaction Method		Pending Tender Offer	$	51.81	$	51.81	$	51.81		Increase
						Discount for Lack of Marketability		5.00%		5.00%		5.00%		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-253

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—100.0% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.4%
Aerojet Rocketdyne Holdings, Inc. (a) (b)		236,106	$	8,388,846
BWX Technologies, Inc. (b)		58,833		2,916,940
Curtiss-Wright Corp.		61,025		6,916,574
HEICO Corp. - Class A		179,144		15,058,845
Hexcel Corp.		107,570		7,439,541
Moog, Inc. - Class A		78,468		6,822,793
Teledyne Technologies, Inc. (a)		57,046		13,520,472
				61,064,011
Air Freight & Logistics—0.3%
XPO Logistics, Inc. (a) (b)		81,606		4,385,506
Airlines—0.0%
Hawaiian Holdings, Inc. (b)		18,460		484,575
Auto Components—0.6%
Cooper-Standard Holdings, Inc. (a)		30,597		1,436,835
LCI Industries (b)		36,290		2,787,798
Visteon Corp. (a) (b)		56,000		3,771,600
				7,996,233
Banks—1.6%
Ameris Bancorp		112,093		3,850,394
Carolina Financial Corp. (b)		100,219		3,466,575
CenterState Bank Corp.		196,728		4,684,094
First Bancorp		136,100		4,730,836
Signature Bank		25,369		3,249,008
Western Alliance Bancorp (a)		50,000		2,052,000
				22,032,907
Beverages—0.8%
Boston Beer Co., Inc. (The) - Class A (a)		18,467		5,442,779
Coca-Cola Bottling Co. Consolidated		16,900		4,864,327
				10,307,106
Biotechnology—8.0%
Abeona Therapeutics, Inc. (a) (b)		28,300		208,288
ACADIA Pharmaceuticals, Inc. (a) (b)		132,288		3,551,933
Acceleron Pharma, Inc. (a) (b)		51,167		2,382,847
Agios Pharmaceuticals, Inc. (a) (b)		59,463		4,010,185
Aimmune Therapeutics, Inc. (a) (b)		53,935		1,205,447
Alkermes plc (a)		40,085		1,462,702
Alnylam Pharmaceuticals, Inc. (a) (b)		7,584		708,725
Amicus Therapeutics, Inc. (a)		110,300		1,500,080
Array BioPharma, Inc. (a) (b)		241,600		5,890,208
Bluebird Bio, Inc. (a) (b)		19,467		3,062,743
Blueprint Medicines Corp. (a) (b)		44,117		3,531,566
CRISPR Therapeutics AG (a) (b)		28,900		1,032,308
Emergent BioSolutions, Inc. (a)		105,400		5,324,808
Enanta Pharmaceuticals, Inc. (a) (b)		14,200		1,356,384
Exact Sciences Corp. (a)		100,200		8,679,324
Exelixis, Inc. (a)		47,067		1,120,195
FibroGen, Inc. (a) (b)		68,550		3,725,692
Genomic Health, Inc. (a)		55,300		3,873,765
Global Blood Therapeutics, Inc. (a) (b)		40,387		2,137,684
Biotechnology—(Continued)
GlycoMimetics, Inc. (a) (b)		51,900		646,674
Immunomedics, Inc. (a) (b)		116,095		2,230,185
Insmed, Inc. (a) (b)		118,384		3,441,423
Ionis Pharmaceuticals, Inc. (a)		26,886		2,182,337
Ironwood Pharmaceuticals, Inc. (a)		125,604		1,699,422
Ligand Pharmaceuticals, Inc. (a) (b)		43,492		5,467,379
Madrigal Pharmaceuticals, Inc. (a) (b)		6,507		815,067
Mirati Therapeutics, Inc. (a) (b)		17,000		1,246,100
Neurocrine Biosciences, Inc. (a)		35,761		3,150,544
PTC Therapeutics, Inc. (a)		42,900		1,614,756
Repligen Corp. (a) (b)		75,734		4,474,365
Sage Therapeutics, Inc. (a)		55,312		8,797,373
Sarepta Therapeutics, Inc. (a)		39,300		4,684,167
Seattle Genetics, Inc. (a) (b)		33,660		2,465,258
Spark Therapeutics, Inc. (a)		40,118		4,568,638
Ultragenyx Pharmaceutical, Inc. (a) (b)		50,136		3,477,433
uniQure NV (a) (b)		38,000		2,266,700
Xencor, Inc. (a)		74,100		2,301,546
				110,294,251
Building Products—1.2%
AAON, Inc. (b)		35,508		1,639,759
Lennox International, Inc. (b)		35,872		9,484,557
Patrick Industries, Inc. (a)		104,635		4,742,058
Resideo Technologies, Inc. (a)		47,300		912,417
				16,778,791
Capital Markets—2.3%
Cboe Global Markets, Inc.		72,531		6,922,359
E*Trade Financial Corp.		69,044		3,205,713
FactSet Research Systems, Inc.		11,482		2,850,636
MarketAxess Holdings, Inc. (b)		40,395		9,940,402
MSCI, Inc.		42,116		8,374,345
				31,293,455
Chemicals—3.2%
AdvanSix, Inc. (a)		90,708		2,591,528
Chase Corp.		48,305		4,470,145
Ingevity Corp. (a)		98,512		10,403,852
Innospec, Inc.		76,578		6,382,776
Minerals Technologies, Inc.		44,431		2,612,098
NewMarket Corp.		8,191		3,551,290
PolyOne Corp.		119,783		3,510,840
Quaker Chemical Corp.		27,200		5,448,976
Scotts Miracle-Gro Co. (The) (b)		45,300		3,559,674
Stepan Co.		24,600		2,152,992
				44,684,171
Commercial Services & Supplies—2.3%
Advanced Disposal Services, Inc. (a)		161,548		4,523,344
Casella Waste Systems, Inc. - Class A (a) (b)		242,978		8,640,298
Healthcare Services Group, Inc.		64,312		2,121,653
Rollins, Inc. (b)		203,949		8,488,357
U.S. Ecology, Inc.		69,714		3,902,590
UniFirst Corp.		26,900		4,129,150
				31,805,392

BHFTII-254

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Communications Equipment—0.8%
EchoStar Corp. - Class A (a)		41,262	$	1,504,000
NetScout Systems, Inc. (a)		38,169		1,071,404
Plantronics, Inc.		50,562		2,331,414
Ubiquiti Networks, Inc.		38,300		5,733,893
				10,640,711
Construction Materials—0.3%
Eagle Materials, Inc.		42,500		3,582,750
Consumer Finance—0.6%
Green Dot Corp. - Class A (a)		47,000		2,850,550
PRA Group, Inc. (a) (b)		74,787		2,005,039
SLM Corp. (b)		319,400		3,165,254
				8,020,843
Containers & Packaging—0.7%
Berry Global Group, Inc. (a)		160,251		8,632,721
Graphic Packaging Holding Co.		104,819		1,323,864
				9,956,585
Distributors—0.8%
Pool Corp. (b)		63,293		10,441,446
Diversified Consumer Services—3.3%
Bright Horizons Family Solutions, Inc. (a)		103,154		13,111,905
frontdoor, Inc. (a)		95,053		3,271,724
Grand Canyon Education, Inc. (a)		68,556		7,850,347
Service Corp. International (b)		211,732		8,501,040
ServiceMaster Global Holdings, Inc. (a)		179,113		8,364,577
Sotheby’s (a)		36,109		1,363,115
Strategic Education, Inc. (b)		20,125		2,642,614
Weight Watchers International, Inc. (a) (b)		47,300		953,095
				46,058,417
Electrical Equipment—0.5%
Atkore International Group, Inc. (a)		174,270		3,752,033
Generac Holdings, Inc. (a)		67,002		3,432,513
				7,184,546
Electronic Equipment, Instruments & Components—3.4%
Cognex Corp. (b)		97,090		4,937,997
Coherent, Inc. (a) (b)		42,343		6,000,850
ePlus, Inc. (a)		17,400		1,540,596
Littelfuse, Inc.		38,600		7,043,728
Novanta, Inc. (a)		102,700		8,701,771
OSI Systems, Inc. (a)		63,154		5,532,291
Tech Data Corp. (a) (b)		19,700		2,017,477
Zebra Technologies Corp. - Class A (a)		51,506		10,792,052
				46,566,762
Energy Equipment & Services—0.7%
Apergy Corp. (a)		121,700		4,997,002
Computer Modelling Group, Ltd.		54,725		251,849
Dril-Quip, Inc. (a) (b)		18,032		826,767
Energy Equipment & Services—(Continued)
Exterran Corp. (a)		97,600		1,644,560
RPC, Inc. (b)		116,100		1,324,701
				9,044,879
Entertainment—1.3%
Live Nation Entertainment, Inc. (a)		155,631		9,888,794
Take-Two Interactive Software, Inc. (a)		87,816		8,287,196
				18,175,990
Equity Real Estate Investment Trusts—3.2%
Americold Realty Trust		164,959		5,032,899
CoreSite Realty Corp.		61,970		6,632,030
CubeSmart		124,371		3,984,847
CyrusOne, Inc.		111,255		5,834,212
Empire State Realty Trust, Inc. - Class A		73,238		1,157,160
Equity Lifestyle Properties, Inc.		57,744		6,600,139
First Industrial Realty Trust, Inc.		162,314		5,739,423
PS Business Parks, Inc.		23,211		3,640,181
Terreno Realty Corp.		121,817		5,121,187
				43,742,078
Food & Staples Retailing—1.6%
Casey’s General Stores, Inc.		65,693		8,459,287
Performance Food Group Co. (a)		211,784		8,395,118
Sprouts Farmers Market, Inc. (a) (b)		212,400		4,575,096
				21,429,501
Food Products—1.4%
J&J Snack Foods Corp. (b)		41,332		6,565,175
John B Sanfilippo & Son, Inc.		32,995		2,371,351
Post Holdings, Inc. (a)		67,025		7,332,535
TreeHouse Foods, Inc. (a) (b)		55,344		3,572,455
				19,841,516
Health Care Equipment & Supplies—4.9%
Avanos Medical, Inc. (a) (b)		53,988		2,304,208
Cantel Medical Corp. (b)		77,014		5,151,466
Cooper Cos., Inc. (The)		15,629		4,628,841
Globus Medical, Inc. - Class A (a)		97,300		4,807,593
Haemonetics Corp. (a) (b)		62,169		5,438,544
ICU Medical, Inc. (a)		41,962		10,042,765
Inogen, Inc. (a) (b)		23,234		2,215,827
LivaNova plc (a)		57,400		5,582,150
Masimo Corp. (a)		69,684		9,635,904
Natus Medical, Inc. (a) (b)		29,672		753,075
NuVasive, Inc. (a)		79,685		4,525,311
Penumbra, Inc. (a) (b)		37,169		5,464,215
West Pharmaceutical Services, Inc.		64,473		7,104,925
				67,654,824
Health Care Providers & Services—4.0%
Addus HomeCare Corp. (a)		59,716		3,797,340
BioTelemetry, Inc. (a)		73,877		4,626,178
Chemed Corp.		26,700		8,545,869

BHFTII-255

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
Corvel Corp. (a)		31,449	$	2,051,733
Encompass Health Corp.		80,509		4,701,726
Ensign Group, Inc. (The)		143,100		7,325,289
Molina Healthcare, Inc. (a)		89,465		12,700,451
U.S. Physical Therapy, Inc. (b)		47,758		5,016,023
WellCare Health Plans, Inc. (a)		25,782		6,954,694
				55,719,303
Health Care Technology—1.0%
Omnicell, Inc. (a)		85,722		6,929,767
Tabula Rasa HealthCare, Inc. (a) (b)		44,400		2,505,048
Veeva Systems, Inc. - Class A (a)		37,462		4,752,429
				14,187,244
Hotels, Restaurants & Leisure—5.2%
Boyd Gaming Corp.		207,600		5,679,936
Cheesecake Factory, Inc. (The) (b)		54,949		2,688,105
Choice Hotels International, Inc. (b)		46,068		3,581,326
Churchill Downs, Inc. (b)		98,518		8,892,235
Denny’s Corp. (a)		300,519		5,514,524
Domino’s Pizza, Inc.		23,562		6,081,352
Hilton Grand Vacations, Inc. (a)		140,683		4,340,071
Marriott Vacations Worldwide Corp.		16,012		1,497,122
Papa John’s International, Inc. (b)		86,600		4,585,470
Penn National Gaming, Inc. (a) (b)		226,165		4,545,916
Ruth’s Hospitality Group, Inc.		163,300		4,178,847
Six Flags Entertainment Corp. (b)		59,859		2,954,042
Texas Roadhouse, Inc.		122,500		7,618,275
Vail Resorts, Inc.		44,681		9,709,181
				71,866,402
Household Durables—0.5%
Helen of Troy, Ltd. (a) (b)		63,676		7,383,869
Independent Power and Renewable Electricity Producers—0.4%
Ormat Technologies, Inc. (b)		87,290		4,814,043
Insurance—1.1%
Heritage Insurance Holdings, Inc.		57,817		844,128
Primerica, Inc.		89,409		10,921,310
Universal Insurance Holdings, Inc.		99,000		3,069,000
				14,834,438
Internet & Direct Marketing Retail—0.5%
Liberty Expedia Holdings, Inc. - Class A (a)		70,475		3,016,330
Shutterfly, Inc. (a)		37,961		1,542,735
Stamps.com, Inc. (a) (b)		35,476		2,888,101
				7,447,166
IT Services—5.6%
Booz Allen Hamilton Holding Corp.		204,745		11,903,874
Broadridge Financial Solutions, Inc.		65,263		6,767,120
Cardtronics plc - Class A (a) (b)		107,572		3,827,412
CoreLogic, Inc. (a)		127,930		4,766,672
Euronet Worldwide, Inc. (a)		99,998		14,258,715
IT Services—(Continued)
Gartner, Inc. (a) (b)		32,261		4,893,349
GTT Communications, Inc. (a) (b)		71,900		2,494,930
Jack Henry & Associates, Inc.		21,262		2,949,890
MAXIMUS, Inc.		127,534		9,052,363
Science Applications International Corp.		62,519		4,810,837
Travelport Worldwide, Ltd. (b)		193,289		3,040,436
WEX, Inc. (a)		46,674		8,960,941
				77,726,539
Leisure Products—0.3%
Brunswick Corp.		85,646		4,310,563
Life Sciences Tools & Services—2.6%
Bio-Rad Laboratories, Inc. - Class A (a)		19,995		6,112,072
Bruker Corp. (b)		55,000		2,114,200
Cambrex Corp. (a)		80,963		3,145,412
Charles River Laboratories International, Inc. (a)		69,520		10,097,780
Medpace Holdings, Inc. (a)		36,800		2,170,096
PRA Health Sciences, Inc. (a)		92,362		10,186,605
Syneos Health, Inc. (a) (b)		45,886		2,375,059
				36,201,224
Machinery—3.6%
Chart Industries, Inc. (a)		18,862		1,707,388
Douglas Dynamics, Inc.		91,790		3,494,445
Graco, Inc.		137,996		6,833,562
IDEX Corp.		21,173		3,212,791
John Bean Technologies Corp. (b)		50,061		4,600,105
Lincoln Electric Holdings, Inc.		32,772		2,748,588
Lydall, Inc. (a)		85,808		2,013,056
Middleby Corp. (The) (a) (b)		19,998		2,600,340
Milacron Holdings Corp. (a)		95,159		1,077,200
Nordson Corp. (b)		34,294		4,544,641
Standex International Corp.		15,402		1,130,507
Toro Co. (The)		131,085		9,023,891
Woodward, Inc.		63,657		6,040,413
				49,026,927
Media—2.0%
Cable One, Inc.		12,000		11,776,560
GCI Liberty, Inc. - Class A (a) (b)		99,614		5,539,535
Gray Television, Inc. (a)		171,054		3,653,713
MSG Networks, Inc. - Class A (a) (b)		174,682		3,799,333
Nexstar Media Group, Inc. - Class A (b)		27,200		2,947,664
				27,716,805
Metals & Mining—0.2%
Worthington Industries, Inc.		54,116		2,019,609
Oil, Gas & Consumable Fuels—1.8%
Centennial Resource Development, Inc. - Class A (a) (b)		278,227		2,445,615
Matador Resources Co. (a) (b)		254,134		4,912,410
PBF Energy, Inc. - Class A		162,800		5,069,592
PDC Energy, Inc. (a) (b)		107,178		4,360,001
WPX Energy, Inc. (a)		585,858		7,680,599
				24,468,217

BHFTII-256

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Personal Products—0.1%
Nu Skin Enterprises, Inc. - Class A		23,002	$	1,100,876
Pharmaceuticals—2.2%
Aerie Pharmaceuticals, Inc. (a) (b)		44,612		2,119,070
Assertio Therapeutics, Inc. (a)		150,974		765,438
Catalent, Inc. (a)		167,570		6,801,666
Innoviva, Inc. (a)		95,630		1,341,689
Jazz Pharmaceuticals plc (a)		11,791		1,685,524
MyoKardia, Inc. (a) (b)		41,691		2,167,515
Nektar Therapeutics (a) (b)		48,916		1,643,578
Pacira Pharmaceuticals, Inc. (a)		33,107		1,260,052
Phibro Animal Health Corp. - Class A		77,841		2,568,753
Prestige Consumer Healthcare, Inc. (a) (b)		131,778		3,941,480
Supernus Pharmaceuticals, Inc. (a)		96,366		3,376,665
TherapeuticsMD, Inc. (a) (b)		211,810		1,031,515
Theravance Biopharma, Inc. (a) (b)		61,814		1,401,323
WAVE Life Sciences, Ltd. (a) (b)		21,287		827,000
				30,931,268
Professional Services—2.4%
ASGN, Inc. (a)		109,600		6,958,504
Exponent, Inc.		135,554		7,824,177
Insperity, Inc.		82,364		10,185,132
TransUnion		111,245		7,435,616
				32,403,429
Real Estate Management & Development—0.1%
Kennedy-Wilson Holdings, Inc. (b)		65,953		1,410,735
Road & Rail—1.0%
Landstar System, Inc. (b)		58,189		6,365,295
Old Dominion Freight Line, Inc.		48,146		6,951,801
				13,317,096
Semiconductors & Semiconductor Equipment—4.6%
Advanced Energy Industries, Inc. (a)		66,144		3,286,034
Cabot Microelectronics Corp.		35,083		3,927,893
Cirrus Logic, Inc. (a) (b)		88,274		3,713,687
Entegris, Inc.		173,200		6,181,508
Ichor Holdings, Ltd. (a) (b)		57,300		1,293,834
Integrated Device Technology, Inc. (a)		124,372		6,092,984
MaxLinear, Inc. (a) (b)		229,189		5,851,195
Mellanox Technologies, Ltd. (a)		92,100		10,900,956
MKS Instruments, Inc.		88,700		8,253,535
Monolithic Power Systems, Inc.		24,000		3,251,760
Nanometrics, Inc. (a)		96,663		2,984,953
Versum Materials, Inc.		148,309		7,461,426
				63,199,765
Software—9.2%
ACI Worldwide, Inc. (a)		181,569		5,968,173
Aspen Technology, Inc. (a)		90,995		9,487,139
Blackbaud, Inc. (b)		94,224		7,512,480
Ceridian HCM Holding, Inc. (a)		39,700		2,036,610
CommVault Systems, Inc. (a)		81,271		5,261,485
Software—(Continued)
CyberArk Software, Ltd. (a)		33,600		4,000,080
Descartes Systems Group, Inc. (The) (a)		75,558		2,748,800
Envestnet, Inc. (a) (b)		116,588		7,623,689
Fair Isaac Corp. (a)		59,468		16,153,293
Fortinet, Inc. (a)		56,233		4,721,885
j2 Global, Inc. (b)		46,266		4,006,636
LogMeIn, Inc.		33,682		2,697,928
Manhattan Associates, Inc. (a) (b)		79,223		4,365,980
Pegasystems, Inc.		99,395		6,460,675
Proofpoint, Inc. (a)		60,701		7,370,922
PTC, Inc. (a) (b)		57,568		5,306,618
Qualys, Inc. (a) (b)		78,200		6,470,268
RealPage, Inc. (a) (b)		122,763		7,450,486
SS&C Technologies Holdings, Inc.		153,865		9,799,662
Tyler Technologies, Inc. (a)		35,251		7,205,304
				126,648,113
Specialty Retail—1.5%
Aaron’s, Inc.		33,861		1,781,088
Burlington Stores, Inc. (a) (b)		76,729		12,021,900
Children’s Place, Inc. (The) (b)		21,892		2,129,654
Murphy USA, Inc. (a)		61,120		5,233,094
				21,165,736
Technology Hardware, Storage & Peripherals—0.2%
NCR Corp. (a)		111,550		3,044,200
Textiles, Apparel & Luxury Goods—0.7%
Carter’s, Inc. (b)		40,672		4,099,331
Steven Madden, Ltd.		180,613		6,111,944
				10,211,275
Thrifts & Mortgage Finance—0.3%
MGIC Investment Corp. (a)		165,371		2,181,243
Radian Group, Inc.		124,182		2,575,535
				4,756,778
Trading Companies & Distributors—0.7%
Beacon Roofing Supply, Inc. (a) (b)		59,350		1,908,696
Univar, Inc. (a)		132,508		2,936,377
Watsco, Inc.		31,080		4,450,967
				9,296,040
Total Common Stocks (Cost $1,011,967,684)				1,378,674,906
Short-Term Investment—0.2%
Mutual Fund—0.2%
T. Rowe Price Government Reserve Fund (c)		2,893,870		2,893,870
Total Short-Term Investments (Cost $2,893,870)				2,893,870

BHFTII-257

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—19.8%

Security Description	Principal Amount*		Value
Bank Note—0.2%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (e)		2,000,000	$	2,000,000
Certificates of Deposit—11.6%
ABN AMRO Bank NV Zero Coupon, 07/05/19		3,964,930		3,972,080
Banco Del Estado De Chile New York 2.838%, 1M LIBOR + 0.350%, 05/20/19 (e)		2,000,000		2,000,710
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (e)		4,000,000		4,003,864
Bank of Nova Scotia 2.860%, SOFR + 0.430%, 05/16/19 (e)		7,000,000		6,999,995
Barclays Bank plc 2.950%, 08/02/19		2,000,000		2,000,540
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (e)		2,000,000		1,999,988
2.784%, 3M LIBOR + 0.050%, 11/06/19 (e)		2,000,000		2,000,000
Canadian Imperial Bank of Commerce
2.734%, 1M LIBOR + 0.250%, 10/15/19 (e)		7,000,000		7,005,740
2.752%, 1M LIBOR + 0.270%, 07/19/19 (e)		4,000,000		4,002,444
Chiba Bank, Ltd. 2.580%, 06/03/19		1,000,000		999,937
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (e)		4,000,000		4,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (e)		500,000		500,123
Cooperative Rabobank UA 2.933%, 3M LIBOR + 0.150%, 01/08/20 (e)		4,500,000		4,501,993
Credit Agricole S.A.
2.698%, 1M LIBOR + 0.210%, 12/20/19 (e)		10,000,000		10,000,520
2.807%, 1M LIBOR + 0.320%, 05/21/19 (e)		4,000,000		4,001,032
Credit Industriel et Commercial 2.887%, 3M LIBOR + 0.090%, 10/15/19 (e)		5,000,000		5,001,815
Credit Suisse AG 2.620%, 04/01/19		10,000,000		10,000,140
HSBC Bank USA, N.A. 2.738%, 3M LIBOR, 08/05/19 (e)		3,000,000		2,999,731
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		3,000,000		3,000,252
KBC Bank NV Zero Coupon, 04/23/19		4,965,732		4,992,900
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 06/21/19		1,986,648		1,988,244
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		4,966,855		4,979,238
Mizuho Bank, Ltd., New York
2.789%, 1M LIBOR + 0.300%, 05/01/19 (e)		2,000,000		2,000,394
2.908%, 04/03/19		1,001,593		999,913
Nationwide Building Society Zero Coupon, 06/24/19		2,972,276		2,981,067
Natixis New York 2.788%, 3M LIBOR + 0.090%, 05/10/19 (e)		3,000,000		3,000,642
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (e)		5,000,000		5,002,810
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (e)		3,000,000		3,000,198
Certificates of Deposit—(Continued)
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (e)		5,005,769		5,002,840
2.899%, 3M LIBOR + 0.160%, 05/07/19 (e)		4,000,000		4,001,008
Standard Chartered plc 2.660%, 08/23/19		6,000,000		6,001,068
State Street Bank and Trust
2.754%, 1M LIBOR + 0.270%, 05/15/19 (e)		8,000,000		8,001,832
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (e)		3,000,000		3,000,114
Sumitomo Mitsui Banking Corp., New York 2.651%, 1M LIBOR + 0.170%, 08/07/19 (e)		3,000,053		3,000,528
Sumitomo Mitsui Trust Bank, Ltd.
Zero Coupon, 05/20/19		3,962,268		3,985,520
2.600%, 07/05/19		7,000,000		7,000,357
2.904%, 3M LIBOR + 0.100%, 07/08/19 (e)		3,000,000		2,999,994
Svenska Handelsbanken AB 2.873%, 1M LIBOR + 0.380%, 12/10/19 (e)		2,000,000		2,003,516
Wells Fargo Bank N.A. 2.975%, 3M LIBOR + 0.210%, 10/25/19 (e)		1,500,000		1,500,000
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (e)		6,000,000		5,999,966
				160,433,053
Commercial Paper—4.6%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (e)		4,000,000		4,000,052
Bank of China, Ltd. 2.890%, 04/17/19		5,956,650		5,991,474
Barton Capital S.A. 2.650%, 05/02/19		1,986,750		1,995,160
China Construction Bank Corp.
2.840%, 04/29/19		3,970,338		3,991,160
2.860%, 04/18/19		4,964,250		4,992,905
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (e)		2,000,000		2,000,000
Industrial & Commercial Bank of China, Corp.
2.880%, 04/18/19		4,964,000		4,992,605
2.920%, 04/15/19		4,961,878		4,993,720
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (e)		5,000,000		5,000,695
Matchpoint Finance plc
2.450%, 04/01/19		1,999,592		1,999,562
2.890%, 05/08/19		3,941,879		3,988,236
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (e)		5,000,000		5,000,000
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (e)		7,000,000		7,009,772
Toyota Motor Credit Corp. 2.620%, 08/29/19		6,909,828		6,923,805
Westpac Banking Corp. 2.809%, 3M LIBOR + 0.070%, 08/07/19 (e)		1,000,000		1,000,396
				63,879,542

BHFTII-258

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—2.8%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $7,558,946; collateralized by various Common Stock with an aggregate market value of $8,252,070.		7,500,000	$	7,500,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $501,361; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $3,245,679; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $3,309,897.		3,244,997		3,244,997
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $4,635,433; collateralized by various Common Stock with an aggregate market value of $5,060,000.		4,600,000		4,600,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $907,132; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $964,220.		900,000		900,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $2,001,011; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $2,165,928.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $1,500,758; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,624,446.		1,500,000		1,500,000
Societe Generale
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $1,000,494; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,112,202.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $2,201,087; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $2,446,844.		2,200,000		2,200,000
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $12,166,006; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $13,524,372.		12,160,000		12,160,000
				38,604,997
Time Deposits—0.6%
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		2,000,000		2,000,000
DZ Bank AG New York 2.430%, 04/01/19		1,000,000		1,000,000
Natixis New York 2.400%, 04/01/19		2,000,000		2,000,000
Nordea Bank New York
2.350%, 04/01/19		1,000,000		1,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
				8,000,000
Total Securities Lending Reinvestments (Cost $272,877,286)				272,917,592
Total Investments—120.0% (Cost $1,287,738,840)				1,654,486,368
Other assets and liabilities (net)—(20.0)%				(275,339,986	)
Net Assets—100.0%			$	1,379,146,382

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $271,382,721 and the collateral received consisted of cash in the amount of $272,586,286 and non-cash collateral with a value of $2,689,807. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)	Affiliated Issuer.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.

BHFTII-259

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,378,674,906	$	—		$	—	$	1,378,674,906
Total Short-Term Investment*		2,893,870		—			—		2,893,870
Total Securities Lending Reinvestments*		—		272,917,592			—		272,917,592
Total Investments	$	1,381,568,776	$	272,917,592		$	—	$	1,654,486,368
Collateral for Securities Loaned (Liability)	$	—	$	(272,586,286	)	$	—	$	(272,586,286	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-260

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Common Stocks—95.9% of Net Assets

Security Description	Shares		Value
Chemicals—7.8%
CF Industries Holdings, Inc.		918,800	$	37,560,544
DowDuPont, Inc.		212,200		11,312,382
Nutrien, Ltd. (a)		801,423		42,283,078
				91,156,004
Electrical Equipment—1.4%
Sunrun, Inc. (a) (b)		1,131,300		15,906,078
Energy Equipment & Services—6.4%
Halliburton Co.		199,500		5,845,350
Nabors Industries, Ltd. (a)		951,200		3,272,128
Patterson-UTI Energy, Inc. (a)		935,000		13,108,700
ProPetro Holding Corp. (a) (b)		1,458,600		32,876,844
Schlumberger, Ltd.		133,500		5,816,595
Transocean, Ltd. (a) (b)		1,123,500		9,785,685
Weatherford International plc (a) (b)		5,005,800		3,494,048
				74,199,350
Equity Real Estate Investment Trusts—1.6%
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		754,143		19,336,227
Food Products—3.1%
Bunge, Ltd.		190,100		10,088,607
Tyson Foods, Inc. - Class A		373,500		25,932,105
				36,020,712
Independent Power and Renewable Electricity Producers—0.5%
Ormat Technologies, Inc. (a)		109,600		6,044,440
Machinery—0.6%
Chart Industries, Inc. (a) (b)		72,000		6,517,440
Marine—1.7%
Kirby Corp. (a) (b)		261,331		19,628,571
Metals & Mining—33.5%
Agnico Eagle Mines, Ltd. (U.S. Listed Shares)		744,533		32,387,186
Anglo American plc		674,200		18,101,912
Barrick Gold Corp.		3,477,620		47,678,170
First Quantum Minerals, Ltd.		4,300,700		48,756,392
Glencore plc (b)		13,057,857		54,308,807
Goldcorp, Inc.		596,700		6,826,248
IAMGOLD Corp. (b)		1,691,100		5,868,117
KAZ Minerals plc		1,387,386		11,864,345
Kinross Gold Corp. (b)		3,590,600		12,351,664
Newmont Mining Corp. (a)		889,700		31,824,569
Rio Tinto plc (ADR) (a)		704,500		41,459,825
Steel Dynamics, Inc.		621,700		21,927,359
Teck Resources, Ltd. - Class B		2,484,400		57,588,392
				390,942,986
Oil, Gas & Consumable Fuels—37.0%
Anadarko Petroleum Corp.		426,900		19,415,412
Cabot Oil & Gas Corp. (a)		435,000		11,353,500
Security Description	Shares/ Principal Amount*		Value
Oil, Gas & Consumable Fuels—(Continued)
Cimarex Energy Co. (a)		381,500		26,666,850
CNX Resources Corp. (a) (b)		1,767,600		19,037,052
Concho Resources, Inc. (a)		444,629		49,336,034
Diamondback Energy, Inc. (a)		565,806		57,446,283
Encana Corp.		4,743,193		34,340,717
EOG Resources, Inc.		338,800		32,246,984
Golar LNG, Ltd. (a)		1,064,000		22,439,760
Green Plains, Inc. (a)		397,200		6,625,296
Parsley Energy, Inc. - Class A (b)		1,945,800		37,553,940
PBF Energy, Inc. - Class A (a)		236,300		7,358,382
PDC Energy, Inc. (a) (b)		605,900		24,648,012
Pioneer Natural Resources Co.		335,300		51,059,484
Viper Energy Partners LP		507,400		16,825,384
WPX Energy, Inc. (a) (b)		1,120,700		14,692,377
				431,045,467
Paper & Forest Products—1.0%
Louisiana-Pacific Corp. (a)		480,500		11,714,590
Semiconductors & Semiconductor Equipment—1.3%
SolarEdge Technologies, Inc. (a) (b)		404,000		15,222,720
Total Common Stocks (Cost $1,134,773,186)				1,117,734,585
Short-Term Investment—3.2%
Mutual Fund—3.2%
AIM STIT-STIC Prime Portfolio		37,527,476		37,527,476
Total Short-Term Investments (Cost $37,527,476)				37,527,476
Securities Lending Reinvestments (c)—23.5%
Bank Note—0.2%
Bank of America N.A. 2.714%, 1M LIBOR + 0.230%, 07/15/19 (d)		2,000,000		2,000,000
Certificates of Deposit—11.2%
ABN AMRO Bank NV Zero Coupon, 07/05/19		3,964,930		3,972,080
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (d)		5,000,000		5,004,830
Bank of Nova Scotia
2.860%, SOFR + 0.430%, 05/16/19 (d)		3,000,000		2,999,998
2.967%, 3M LIBOR + 0.170%, 01/09/20 (d)		5,000,000		5,000,280
Barclays Bank plc 2.950%, 08/02/19		3,000,000		3,000,810
BNP Paribas S.A. New York
2.624%, 1M LIBOR + 0.140%, 09/16/19 (d)		3,500,000		3,499,979
2.784%, 3M LIBOR + 0.050%, 11/06/19 (d)		2,000,000		2,000,000
Canadian Imperial Bank of Commerce
2.734%, 1M LIBOR + 0.250%, 10/15/19 (d)		5,000,000		5,004,100
2.752%, 1M LIBOR + 0.270%, 07/19/19 (d)		3,000,000		3,001,833

BHFTII-261

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Chiba Bank, Ltd. 2.580%, 06/03/19		2,000,000	$	1,999,874
Commonwealth Bank of Australia
2.709%, 1M LIBOR + 0.210%, 09/13/19 (d)		4,000,000		4,000,000
2.901%, 3M LIBOR + 0.140%, 04/23/19 (d)		2,000,000		2,000,492
Cooperative Rabobank UA 2.995%, 3M LIBOR + 0.200%, 04/05/19 (d)		1,000,000		1,000,067
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (d)		5,000,000		5,000,260
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (d)		6,000,000		5,999,461
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		3,000,000		3,000,252
KBC Bank NV Zero Coupon, 04/23/19		2,979,439		2,995,740
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		993,371		995,848
Mizuho Bank, Ltd., New York 2.789%, 1M LIBOR + 0.300%, 05/01/19 (d)		2,000,000		2,000,394
Nationwide Building Society Zero Coupon, 06/24/19		3,963,035		3,974,755
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		5,000,000		5,002,810
Shizuoka Bank, Ltd. 2.600%, 05/07/19		2,000,000		2,000,090
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (d)		6,000,000		6,000,396
Societe Generale
2.863%, 3M LIBOR + 0.200%, 08/21/19 (d)		1,351,558		1,350,767
2.899%, 3M LIBOR + 0.160%, 05/07/19 (d)		2,000,000		2,000,504
Standard Chartered plc 2.660%, 08/23/19		4,000,000		4,000,712
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (d)		5,000,000		5,001,145
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (d)		6,000,000		6,000,228
Sumitomo Mitsui Banking Corp., New York 2.692%, 1M LIBOR + 0.210%, 05/17/19 (d)		4,000,000		4,000,624
Sumitomo Mitsui Trust Bank, Ltd. 2.600%, 07/05/19		7,000,000		7,000,357
Svenska Handelsbanken AB
2.799%, 1M LIBOR + 0.300%, 10/31/19 (d)		2,000,000		2,002,266
2.851%, 3M LIBOR + 0.100%, 04/30/19 (d)		1,500,000		1,500,405
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (d)		2,000,000		2,001,028
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (d)		1,000,000		1,000,410
Wells Fargo Bank N.A.
2.939%, 3M LIBOR + 0.140%, 07/11/19 (d)		8,500,000		8,499,332
2.975%, 3M LIBOR + 0.210%, 10/25/19 (d)		3,000,000		3,000,000
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (d)		4,000,000		3,999,977
				130,812,104
Commercial Paper—3.4%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (d)		2,000,000		2,000,026
Bank of China, Ltd.
2.890%, 04/17/19		1,985,550		1,997,158
2.890%, 04/18/19		2,482,740		2,496,255
China Construction Bank Corp.
2.840%, 04/29/19		2,977,753		2,993,370
2.860%, 04/18/19		992,850		998,581
Fairway Finance Corp. 2.600%, 05/07/19		1,986,711		1,994,446
Industrial & Commercial Bank of China, Corp. 2.920%, 04/15/19		3,969,502		3,994,976
ING Funding LLC 2.778%, 3M LIBOR + 0.040%, 11/04/19 (d)		5,000,000		5,000,695
LMA S.A. & LMA Americas, Corp. 2.750%, 08/05/19		1,972,194		1,981,004
Matchpoint Finance plc 2.890%, 05/08/19		2,956,409		2,991,177
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (d)		5,000,000		5,006,980
Toyota Motor Credit Corp. 2.620%, 08/29/19		2,961,355		2,967,345
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (d)		5,000,000		5,002,135
				39,424,148
Repurchase Agreements—6.0%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $10,078,594; collateralized by various Common Stock with an aggregate market value of $11,002,760.		10,000,000		10,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $1,002,722; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $2,005,444; 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 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $500,102; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $510,000.		500,000		500,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $500,117; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $510,000.		500,000		500,000

BHFTII-262

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $900,188; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $918,000.		900,000	$	900,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $7,001,604; collateralized by various Common Stock with an aggregate market value of $7,700,002.		7,000,000		7,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $8,682,204; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $8,853,988.		8,680,381		8,680,381
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $4,202,894; collateralized by various Common Stock with an aggregate market value of $4,400,003.		4,000,000		4,000,000
Repurchase Agreement dated 03/29/19 at 2.950%, due on 07/01/19 with a maturity value of $806,162; collateralized by various Common Stock with an aggregate market value of $880,000.		800,000		800,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $2,922,980; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $3,106,932.		2,900,000		2,900,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $2,301,163; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $2,490,817.		2,300,000		2,300,000
Repurchase Agreement dated 03/29/19 at 2.600%, due on 04/05/19 with a maturity value of $20,010,111; collateralized by U.S. Treasury Obligations with rates ranging from 0.875% - 7.125%, maturity dates ranging from 10/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $21,659,279.		20,000,000		20,000,000
Nomura Securities International, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $5,001,063; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 3.875%, maturity dates ranging from 04/11/19 - 11/15/48, and an aggregate market value of $5,100,000.		5,000,000		5,000,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $4,080,878; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $4,448,807.		4,000,000		4,000,000
				69,580,381
Time Deposits—2.7%
Australia & New Zealand Banking Group, Ltd. 2.450%, 04/01/19		1,000,000		1,000,000
Canadian Imperial Bank of Commerce 2.400%, 04/01/19		5,000,000		5,000,000
DNB Bank ASA 2.350%, 04/01/19		6,000,000		6,000,000
Natixis New York 2.400%, 04/01/19		10,000,000		10,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		8,000,000		8,000,000
				32,000,000
Total Securities Lending Reinvestments (Cost $273,784,920)				273,816,633
Total Investments—122.6% (Cost $1,446,085,582)				1,429,078,694
Other assets and liabilities (net)—(22.6)%				(263,238,048	)
Net Assets—100.0%			$	1,165,840,646

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $280,408,010 and the collateral received consisted of cash in the amount of $273,617,779 and non-cash collateral with a value of $15,465,943. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe- keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(SOFR)—	Secured Overnight Financing Rate

BHFTII-263

Brighthouse Funds Trust II

Van Eck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Chemicals	$	91,156,004	$	—		$	—	$	91,156,004
Electrical Equipment		15,906,078		—			—		15,906,078
Energy Equipment & Services		74,199,350		—			—		74,199,350
Equity Real Estate Investment Trusts		19,336,227		—			—		19,336,227
Food Products		36,020,712		—			—		36,020,712
Independent Power and Renewable Electricity Producers		6,044,440		—			—		6,044,440
Machinery		6,517,440		—			—		6,517,440
Marine		19,628,571		—			—		19,628,571
Metals & Mining		306,667,922		84,275,064			—		390,942,986
Oil, Gas & Consumable Fuels		431,045,467		—			—		431,045,467
Paper & Forest Products		11,714,590		—			—		11,714,590
Semiconductors & Semiconductor Equipment		15,222,720		—			—		15,222,720
Total Common Stocks		1,033,459,521		84,275,064			—		1,117,734,585
Total Short-Term Investment*		37,527,476		—			—		37,527,476
Total Securities Lending Reinvestments*		—		273,816,633			—		273,816,633
Total Investments	$	1,070,986,997	$	358,091,697		$	—	$	1,429,078,694
Collateral for Securities Loaned (Liability)	$	—	$	(273,617,779	)	$	—	$	(273,617,779	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-264

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—59.7% of Net Assets

Security Description	Principal Amount*		Value
Aerospace/Defense—0.5%
Harris Corp. 4.854%, 04/27/35		350,000	$	376,125
5.054%, 04/27/45 (a)		1,089,000		1,203,220
Northrop Grumman Corp. 2.930%, 01/15/25		8,940,000		8,822,532
3.200%, 02/01/27		3,560,000		3,507,278
Raytheon Co. 3.125%, 10/15/20		30,000		30,306
				13,939,461
Agriculture—0.2%
Altria Group, Inc. 4.400%, 02/14/26		1,000,000		1,029,975
4.800%, 02/14/29		3,500,000		3,611,598
5.375%, 01/31/44		649,000		652,571
Reynolds American, Inc. 4.850%, 09/15/23		1,640,000		1,730,747
				7,024,891
Airlines—0.0%
Air Canada Pass-Through Trust 4.125%, 05/15/25 (144A)		628,261		640,386
American Airlines Pass-Through Trust 5.600%, 07/15/20 (144A)		704,263		714,827
Delta Air Lines Pass-Through Trust 4.950%, 05/23/19		73,513		73,689
				1,428,902
Apparel—0.6%
Hanesbrands, Inc. 4.875%, 05/15/26 (144A) (a)		10,598,000		10,455,987
Levi Strauss & Co. 5.000%, 05/01/25 (a)		3,474,000		3,578,220
William Carter Co. (The) 5.625%, 03/15/27 (144A)		2,910,000		3,008,212
				17,042,419
Auto Manufacturers—0.6%
Allison Transmission, Inc. 5.000%, 10/01/24 (144A) (a)		4,790,000		4,778,025
General Motors Co. 6.600%, 04/01/36		5,134,000		5,377,522
JB Poindexter & Co., Inc. 7.125%, 04/15/26 (144A) (a)		8,691,000		8,715,596
				18,871,143
Auto Parts & Equipment—0.3%
Delphi Technologies plc 5.000%, 10/01/25 (144A)		4,210,000		3,706,905
ZF North America Capital, Inc. 4.750%, 04/29/25 (144A)		4,153,000		4,036,033
				7,742,938
Banks—10.2%
ABN AMRO Bank NV 4.750%, 07/28/25 (144A) (a)		321,000		333,471
Banco Mercantil del Norte S.A. 6.875%, 5Y H15 + 5.035%, 07/06/22 (144A) (b)		800,000		795,008
7.625%, 10Y H15 + 5.353%, 01/10/28 (144A) (b)		800,000		800,000
Banco Santander S.A. 3.800%, 02/23/28		400,000		388,185
3.848%, 04/12/23 (a)		9,800,000		9,887,762
Bank of America Corp. 4.000%, 01/22/25		16,110,000		16,451,000
4.250%, 10/22/26		7,628,000		7,842,814
Barclays Bank plc 7.625%, 11/21/22		16,450,000		17,889,375
Barclays plc 4.972%, 3M LIBOR + 1.902%, 05/16/29 (a) (b)		4,990,000		5,162,883
7.750%, 5Y USD Swap + 4.842%, 09/15/23 (a) (b)		3,650,000		3,656,205
8.000%, 5Y H15 + 5.672%, 06/15/24 (b)		6,660,000		6,809,850
BBVA Bancomer S.A. 5.125%, 5Y H15 + 2.650%, 01/18/33 (144A) (b)		16,480,000		15,153,360
BNP Paribas S.A. 4.375%, 05/12/26 (144A) (a)		7,680,000		7,807,710
7.625%, 5Y USD Swap + 6.314%, 03/30/21 (144A) (b)		2,850,000		2,988,937
BPCE S.A. 4.875%, 04/01/26 (144A) (a)		12,000,000		12,352,564
5.150%, 07/21/24 (144A)		420,000		438,529
CIT Group, Inc. 6.125%, 03/09/28 (a)		1,760,000		1,958,000
Citigroup, Inc. 4.050%, 07/30/22		110,000		113,321
4.450%, 09/29/27		11,094,000		11,412,464
Cooperative Rabobank UA 3.750%, 07/21/26		4,210,000		4,155,098
4.375%, 08/04/25		1,470,000		1,516,279
4.625%, 12/01/23		5,870,000		6,135,122
11.000%, 3M LIBOR + 10.868%, 06/30/19 (144A) (b)		415,000		422,781
Credit Agricole S.A. 6.500%, 5Y EUR Swap + 5.120%, 06/23/21 (EUR) (b)		2,735,000		3,281,942
7.875%, 5Y USD Swap + 4.898%, 01/23/24 (144A) (a) (b)		1,750,000		1,878,132
8.125%, 5Y USD Swap + 6.185%, 12/23/25 (144A) (b)		7,050,000		7,918,222
8.375%, 3M LIBOR + 6.982%, 10/13/19 (144A) (b)		640,000		656,000
Credit Suisse Group AG 7.250%, 5Y USD ICE Swap + 4.332%, 09/12/25 (144A) (b)		650,000		652,438
7.500%, 5Y EUR Swap + 4.60%, 07/17/23 (144A) (b)		3,390,000		3,487,462
7.500%, 5Y USD Swap + 4.598%, 12/11/23 (144A) (b)		4,365,000		4,615,743
Danske Bank A/S 5.000%, 01/12/22 (144A)		2,040,000		2,089,187
5.375%, 01/12/24 (144A)		2,000,000		2,080,863
Goldman Sachs Group, Inc. 3.500%, 11/16/26		2,920,000		2,883,378
4.000%, 03/03/24		1,510,000		1,556,127
4.250%, 10/21/25		8,890,000		9,106,040
5.250%, 07/27/21		1,330,000		1,397,250
6.750%, 10/01/37		2,000,000		2,448,276
HSBC Holdings plc
3.900%, 05/25/26		10,850,000		10,994,107

BHFTII-265

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
HSBC Holdings plc
4.583%, 3M LIBOR + 1.534%, 06/19/29 (a) (b)		2,650,000	$	2,788,696
6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (b)		4,430,000		4,392,345
6.250%, 5Y EUR Swap + 3.453%, 03/23/23 (a) (b)		1,660,000		1,657,925
6.500%, 5Y USD ICE Swap + 3.606%, 03/23/28 (b)		3,770,000		3,732,300
Intesa Sanpaolo S.p.A. 3.125%, 07/14/22 (144A)		1,970,000		1,918,877
3.375%, 01/12/23 (144A)		1,900,000		1,855,308
5.017%, 06/26/24 (144A)		2,440,000		2,359,168
5.710%, 01/15/26 (144A)		19,740,000		19,282,653
6.500%, 02/24/21 (144A)		1,175,000		1,231,867
JPMorgan Chase & Co. 3.625%, 12/01/27 (a)		6,430,000		6,396,549
3.875%, 09/10/24		2,722,000		2,792,278
Lloyds Banking Group plc 4.582%, 12/10/25		3,011,000		3,048,136
4.650%, 03/24/26		3,920,000		3,968,516
6.375%, 5Y EUR Swap + 5.290%, 06/27/20 (EUR) (b)		5,450,000		6,283,532
7.500%, 5Y USD Swap + 4.760%, 06/27/24 (a) (b)		3,580,000		3,687,400
Macquarie Group, Ltd. 6.000%, 01/14/20 (144A)		3,200,000		3,272,435
6.250%, 01/14/21 (144A) (a)		400,000		421,693
Morgan Stanley
4.000%, 07/23/25		1,165,000		1,199,824
4.100%, 05/22/23		1,000,000		1,027,196
4.875%, 11/01/22		250,000		263,946
Royal Bank of Scotland Group plc 4.800%, 04/05/26		400,000		415,819
5.125%, 05/28/24		2,870,000		2,945,412
6.000%, 12/19/23		875,000		934,472
6.100%, 06/10/23		780,000		828,700
8.625%, 5Y USD Swap + 7.598%, 08/15/21 (a) (b)		2,890,000		3,077,850
Santander Holdings USA, Inc. 4.500%, 07/17/25		570,000		587,783
Santander UK Group Holdings plc 4.750%, 09/15/25 (144A) (a)		10,031,000		9,957,142
7.375%, 5Y GBP Swap + 5.543%, 06/24/22 (GBP) (b)		2,620,000		3,510,948
Santander UK plc 7.950%, 10/26/29		272,000		328,960
Standard Chartered plc 3.950%, 01/11/23 (144A)		2,425,000		2,444,360
5.700%, 03/26/44 (144A)		600,000		652,744
UBS AG 7.625%, 08/17/22		2,850,000		3,134,800
UBS Group Funding Switzerland AG 4.253%, 03/23/28 (144A)		2,950,000		3,070,378
7.000%, 5Y USD ICE Swap + 4.344%, 01/31/24 (144A) (b)		3,600,000		3,654,108
UniCredit S.p.A. 7.296%, 5Y USD ICE Swap + 4.914%, 04/02/34 (144A) (b)		6,200,000		6,253,545
Wells Fargo & Co. 4.300%, 07/22/27		10,990,000		11,437,804
Wells Fargo Capital X 5.950%, 12/01/36		90,000		99,000
				314,430,354
Beverages—0.7%
Anheuser-Busch InBev Worldwide, Inc. 5.550%, 01/23/49		13,730,000		15,094,987
5.800%, 01/23/59		1,110,000		1,237,381
Constellation Brands, Inc.
4.750%, 12/01/25		140,000		149,349
Cott Holdings, Inc. 5.500%, 04/01/25 (144A) (a)		5,530,000		5,578,388
				22,060,105
Biotechnology—0.2%
Celgene Corp. 3.875%, 08/15/25		1,120,000		1,149,748
5.000%, 08/15/45		800,000		840,994
Gilead Sciences, Inc. 2.550%, 09/01/20		1,675,000		1,672,952
3.500%, 02/01/25		1,795,000		1,831,869
4.600%, 09/01/35 (a)		1,800,000		1,897,767
				7,393,330
Building Materials—0.4%
Standard Industries, Inc. 6.000%, 10/15/25 (144A) (a)		10,500,000		10,994,445
Chemicals—0.2%
Monitchem HoldCo 2 S.A. 6.875%, 06/15/22 (EUR)		3,104,000		3,132,329
Olin Corp. 5.000%, 02/01/30 (a)		3,250,000		3,185,000
				6,317,329
Commercial Services—1.8%
Ashtead Capital, Inc. 4.375%, 08/15/27 (144A)		5,320,000		5,133,800
Brink’s Co. (The) 4.625%, 10/15/27 (144A) (a)		3,420,000		3,308,850
Carriage Services, Inc. 6.625%, 06/01/26 (144A)		5,500,000		5,623,750
Europcar Mobility Group 5.750%, 06/15/22 (EUR)		2,620,000		3,010,285
Hertz Corp. (The) 5.875%, 10/15/20 (a)		4,760,000		4,758,810
Metropolitan Museum of Art (The) 3.400%, 07/01/45		2,025,000		1,980,984
Prime Security Services Borrower LLC / Prime Finance, Inc. 5.250%, 04/15/24 (144A)		1,290,000		1,290,000
5.750%, 04/15/26 (144A)		4,200,000		4,200,000
9.250%, 05/15/23 (144A)		4,142,000		4,349,100
Service Corp. International 7.500%, 04/01/27		682,000		784,300
UBM plc 5.750%, 11/03/20 (144A)		50,000		51,703
United Rentals North America, Inc.
4.625%, 07/15/23 (a)		1,341,000		1,361,953
4.625%, 10/15/25 (a)		760,000		750,500

BHFTII-266

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
United Rentals North America, Inc.
4.875%, 01/15/28 (a)		5,230,000	$	5,087,221
5.875%, 09/15/26 (a)		5,000,000		5,168,750
6.500%, 12/15/26		1,940,000		2,041,850
Weight Watchers International, Inc. 8.625%, 12/01/25 (144A) (a)		7,515,000		6,763,500
				55,665,356
Computers—0.4%
Dell International LLC / EMC Corp. 4.420%, 06/15/21 (144A)		12,010,000		12,323,660
Seagate HDD Cayman 4.750%, 06/01/23		465,000		470,433
				12,794,093
Diversified Financial Services—2.0%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.625%, 10/30/20		1,060,000		1,085,164
5.000%, 10/01/21		15,056,000		15,624,692
Ally Financial, Inc. 8.000%, 11/01/31		525,000		651,656
ASP AMC Merger Sub, Inc. 8.000%, 05/15/25 (144A)		9,420,000		4,239,000
Carlyle Holdings II Finance LLC 5.625%, 03/30/43 (144A)		3,370,000		3,318,021
International Lease Finance Corp. 8.625%, 01/15/22		2,500,000		2,840,233
Jerrold Finco plc 6.125%, 01/15/24 (144A) (GBP)		1,780,000		2,324,010
KKR Group Finance Co. II LLC 5.500%, 02/01/43 (144A)		130,000		139,357
LHC3 plc 4.125%, 4.875% PIK, 08/15/24 (EUR) (c)		250,000		283,865
Lions Gate Capital Holdings LLC 5.875%, 11/01/24 (144A) (a)		3,880,000		3,996,400
Navient Corp. 5.000%, 10/26/20		5,811,000		5,890,901
Quicken Loans, Inc. 5.750%, 05/01/25 (144A)		15,600,000		15,639,000
Travelport Corporate Finance plc 6.000%, 03/15/26 (144A)		3,238,000		3,497,040
Visa, Inc. 3.150%, 12/14/25		850,000		864,974
				60,394,313
Electric—1.1%
Enel S.p.A. 7.750%, 5Y GBP Swap + 5.662%, 09/10/75 (GBP) (b)		2,450,000		3,414,372
FirstEnergy Corp. 3.900%, 07/15/27		6,480,000		6,579,957
4.250%, 03/15/23		1,560,000		1,628,005
7.375%, 11/15/31		3,550,000		4,701,658
NSG Holdings LLC / NSG Holdings, Inc. 7.750%, 12/15/25 (144A) (d)		2,419,311		2,588,662
Electric—(Continued)
Pacific Gas & Electric Co. 3.250%, 09/15/21		2,473,000		2,256,613
Panoche Energy Center LLC 6.885%, 07/31/29 (144A)		621,902		574,687
Perusahaan Listrik Negara PT 5.500%, 11/22/21		9,750,000		10,249,688
Southern California Edison Co. 3.900%, 03/15/43		1,217,000		1,123,613
				33,117,255
Energy-Alternate Sources—0.0%
Alta Wind Holdings LLC 7.000%, 06/30/35 (144A) (d)		1,268,181		1,350,893
Entertainment—0.6%
Scientific Games International, Inc. 10.000%, 12/01/22 (a)		14,360,000		15,113,900
Speedway Motorsports, Inc. 5.125%, 02/01/23		1,302,000		1,311,765
Vue International Bidco plc 7.875%, 07/15/20 (GBP)		2,510,000		3,260,158
				19,685,823
Environmental Control—0.0%
Waste Management, Inc. 3.500%, 05/15/24		890,000		912,384
4.600%, 03/01/21		180,000		186,094
7.375%, 05/15/29		190,000		244,891
				1,343,369
Food—0.3%
Kraft Heinz Foods Co. 3.000%, 06/01/26		340,000		317,891
3.950%, 07/15/25		60,000		60,473
5.000%, 07/15/35		250,000		245,767
5.000%, 06/04/42		130,000		123,217
5.200%, 07/15/45		390,000		376,246
Lamb Weston Holdings, Inc. 4.625%, 11/01/24 (144A) (a)		3,710,000		3,747,100
4.875%, 11/01/26 (144A) (a)		4,870,000		4,936,962
				9,807,656
Forest Products & Paper—0.4%
Resolute Forest Products, Inc. 5.875%, 05/15/23		7,630,000		7,601,388
Suzano Austria GmbH 5.750%, 07/14/26		4,200,000		4,475,520
				12,076,908
Healthcare-Products—0.6%
Becton Dickinson & Co. 3.700%, 06/06/27		8,580,000		8,555,950
Immucor, Inc. 11.125%, 02/15/22 (144A) (a)		7,080,000		7,186,200

BHFTII-267

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Products—(Continued)
Medtronic, Inc. 3.150%, 03/15/22		1,393,000	$	1,418,997
3.500%, 03/15/25 (a)		1,730,000		1,786,514
				18,947,661
Healthcare-Services—1.9%
Centene Corp. 5.375%, 06/01/26 (144A) (a)		7,280,000		7,589,400
6.125%, 02/15/24 (a)		4,413,000		4,623,941
DaVita, Inc. 5.000%, 05/01/25 (a)		500,000		479,125
Fresenius Medical Care U.S. Finance II, Inc. 4.750%, 10/15/24 (144A)		700,000		726,879
HCA, Inc. 5.375%, 02/01/25 (a)		6,010,000		6,370,600
5.500%, 06/15/47		12,100,000		12,912,181
5.625%, 09/01/28		10,750,000		11,368,125
Humana, Inc. 4.800%, 03/15/47		800,000		844,283
Magellan Health, Inc. 4.900%, 09/22/24		4,545,000		4,324,568
RegionalCare Hospital Partners Holdings, Inc. 8.250%, 05/01/23 (144A)		4,513,000		4,800,704
Tenet Healthcare Corp. 8.125%, 04/01/22 (a)		4,255,000		4,577,742
				58,617,548
Holding Companies-Diversified—0.1%
Co-operative Group Holdings, Ltd. 7.500%, 07/08/26 (GBP) (e)		2,410,000		3,495,169
Home Builders—0.3%
Lennar Corp. 4.500%, 04/30/24 (a)		4,180,000		4,239,356
4.750%, 11/29/27		5,730,000		5,732,679
				9,972,035
Household Products/Wares—0.0%
Spectrum Brands, Inc. 4.000%, 10/01/26 (EUR)		270,000		307,906
Housewares—0.1%
Newell Brands, Inc. 3.850%, 04/01/23 (a)		1,750,000		1,731,205
Insurance—0.8%
Ambac Assurance Corp. 5.100%, 06/07/20 (144A)		20,207		28,390
Ambac LSNI LLC 7.592%, 3M LIBOR + 5.000%, 02/12/23 (144A) (b)		86,900		87,551
American International Group, Inc. 3.750%, 07/10/25		770,000		771,396
6.250%, 03/15/37		453,000		448,470
AXA S.A. 8.600%, 12/15/30		1,320,000		1,729,200
Insurance—(Continued)
Delphi Financial Group, Inc. 7.875%, 01/31/20		2,190,000		2,272,799
Fidelity & Guaranty Life Holdings, Inc. 5.500%, 05/01/25 (144A)		6,120,000		6,142,950
Liberty Mutual Insurance Co. 7.697%, 10/15/97 (144A)		2,600,000		3,507,092
Massachusetts Mutual Life Insurance Co. 4.900%, 04/01/77 (144A)		6,285,000		6,664,219
Prudential Financial, Inc. 5.625%, 3M LIBOR + 3.920%, 06/15/43 (b)		550,000		572,000
5.875%, 3M LIBOR + 4.175%, 09/15/42 (a) (b)		1,200,000		1,269,000
Teachers Insurance & Annuity Association of America 4.900%, 09/15/44 (144A)		1,771,000		1,978,707
6.850%, 12/16/39 (144A)		216,000		297,337
				25,769,111
Internet—0.9%
Booking Holdings, Inc. 3.650%, 03/15/25		1,625,000		1,660,140
Cogent Communications Group, Inc. 5.375%, 03/01/22 (144A) (a)		6,333,000		6,475,492
Match Group, Inc.
5.000%, 12/15/27 (144A) (a)		920,000		926,900
6.375%, 06/01/24 (a)		4,725,000		4,967,156
Netflix, Inc. 6.375%, 05/15/29 (144A) (a)		6,500,000		7,028,125
Tencent Holdings, Ltd. 3.595%, 01/19/28 (144A)		8,110,000		8,008,938
				29,066,751
Iron/Steel—0.4%
Vale Overseas, Ltd.
6.250%, 08/10/26 (a)		3,990,000		4,337,130
6.875%, 11/10/39 (a)		7,980,000		9,137,100
				13,474,230
Leisure Time—0.9%
NCL Corp., Ltd. 4.750%, 12/15/21 (144A) (a)		5,262,000		5,321,198
Silversea Cruise Finance, Ltd. 7.250%, 02/01/25 (144A)		5,285,000		5,715,727
Viking Cruises, Ltd. 5.875%, 09/15/27 (144A) (a)		11,372,000		11,059,270
VOC Escrow, Ltd. 5.000%, 02/15/28 (144A) (a)		6,000,000		5,835,000
				27,931,195
Lodging—0.9%
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. 4.625%, 04/01/25		1,250,000		1,262,500
4.875%, 04/01/27 (a)		11,970,000		12,104,663
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp. 10.250%, 11/15/22 (144A)		7,468,000		8,028,100

BHFTII-268

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Lodging—(Continued)
Sands China, Ltd. 5.125%, 08/08/25		6,800,000	$	7,090,604
				28,485,867
Machinery-Diversified—0.2%
Cleaver-Brooks, Inc. 7.875%, 03/01/23 (144A)		4,350,000		4,023,750
MAI Holdings, Inc. 9.500%, 06/01/23		2,550,000		2,422,500
				6,446,250
Media—5.0%
Altice Luxembourg S.A. 7.750%, 05/15/22 (144A) (a)		16,270,000		16,249,662
American Media LLC 10.500%, 12/31/26 (144A)		13,637,886		13,382,176
CCO Holdings LLC / CCO Holdings Capital Corp.
5.000%, 02/01/28 (144A) (a)		3,490,000		3,450,738
5.125%, 05/01/27 (144A) (a)		4,470,000		4,497,937
5.375%, 05/01/25 (144A)		880,000		908,600
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.200%, 03/15/28		8,160,000		8,104,294
4.908%, 07/23/25		9,064,000		9,558,019
5.375%, 04/01/38 (a)		2,050,000		2,063,889
Comcast Corp. 4.700%, 10/15/48		11,430,000		12,448,457
CSC Holdings LLC
6.500%, 02/01/29 (144A)		15,520,000		16,519,100
10.875%, 10/15/25 (144A)		5,667,000		6,542,551
DISH DBS Corp. 7.750%, 07/01/26 (a)		15,165,000		13,193,550
EW Scripps Co. (The) 5.125%, 05/15/25 (144A) (a)		5,810,000		5,534,025
Fox Corp.
4.709%, 01/25/29 (144A)		3,370,000		3,608,065
5.476%, 01/25/39 (144A)		1,040,000		1,153,535
Meredith Corp. 6.875%, 02/01/26 (a)		3,620,000		3,810,050
Time Warner Cable LLC 5.875%, 11/15/40		1,942,000		2,020,627
Univision Communications, Inc.
5.125%, 05/15/23 (144A) (a)		2,540,000		2,413,000
5.125%, 02/15/25 (144A) (a)		7,890,000		7,347,562
6.750%, 09/15/22 (144A)		1,530,000		1,552,950
UPC Holding B.V. 5.500%, 01/15/28 (144A)		5,080,000		5,067,300
UPCB Finance IV, Ltd. 5.375%, 01/15/25 (144A)		2,296,000		2,330,440
Virgin Media Secured Finance plc 5.500%, 01/15/25 (GBP)		4,959,000		6,604,172
5.500%, 08/15/26 (144A) (a)		5,985,000		6,089,737
				154,450,436
Metal Fabricate/Hardware—0.2%
Park-Ohio Industries, Inc. 6.625%, 04/15/27 (a)		6,330,000		6,298,350
Mining—3.5%
Alcoa Nederland Holding B.V. 6.125%, 05/15/28 (144A)		12,912,000		13,299,360
Anglo American Capital plc 4.000%, 09/11/27 (144A)		3,540,000		3,444,178
Barrick Gold Corp. 5.250%, 04/01/42		2,520,000		2,725,078
Barrick North America Finance LLC 5.750%, 05/01/43		8,579,000		9,961,836
BHP Billiton Finance USA, Ltd. 2.875%, 02/24/22		79,000		79,802
6.250%, 5Y USD Swap + 4.971%, 10/19/75 (144A) (b)		2,392,000		2,492,584
6.750%, 5Y USD Swap + 5.093%, 10/19/75 (144A) (b)		8,191,000		9,067,847
First Quantum Minerals, Ltd. 6.500%, 03/01/24 (144A)		2,740,000		2,575,600
7.250%, 04/01/23 (144A) (a)		12,699,000		12,397,399
7.500%, 04/01/25 (144A)		1,730,000		1,662,962
Freeport-McMoRan, Inc. 5.450%, 03/15/43		16,860,000		14,752,669
Glencore Finance Canada, Ltd. 4.250%, 10/25/22 (144A)		788,000		814,228
5.550%, 10/25/42 (144A) (a)		1,000,000		998,670
Glencore Funding LLC 4.000%, 04/16/25 (144A) (a)		6,580,000		6,601,977
HudBay Minerals, Inc. 7.250%, 01/15/23 (144A) (a)		4,950,000		5,117,062
7.625%, 01/15/25 (144A)		2,460,000		2,521,500
Midwest Vanadium Pty, Ltd. 13.250%, 02/15/18 (144A) (d) (f)		932,290		93
Northwest Acquisitions ULC / Dominion Finco, Inc. 7.125%, 11/01/22 (144A)		4,210,000		3,704,800
Teck Resources, Ltd. 5.400%, 02/01/43		4,575,000		4,534,734
6.000%, 08/15/40		1,774,000		1,842,990
Yamana Gold, Inc. 4.950%, 07/15/24		9,130,000		9,384,453
				107,979,822
Miscellaneous Manufacturing—0.5%
General Electric Co. 6.875%, 01/10/39		11,678,000		13,827,971
Oil & Gas—5.8%
Anadarko Finance Co. 7.500%, 05/01/31		80,000		99,957
Anadarko Petroleum Corp. 4.500%, 07/15/44		800,000		755,193
5.550%, 03/15/26		2,250,000		2,455,991
6.450%, 09/15/36		220,000		253,745
Apache Corp. 3.250%, 04/15/22		452,000		452,488
4.250%, 01/15/44		260,000		230,816
4.750%, 04/15/43		7,000,000		6,609,540

BHFTII-269

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Berry Petroleum Co. LLC 7.000%, 02/15/26 (144A)		9,280,000	$	9,187,200
BP Capital Markets America, Inc. 3.119%, 05/04/26		2,700,000		2,690,384
Chesapeake Energy Corp. 7.000%, 10/01/24 (a)		2,310,000		2,304,225
8.000%, 06/15/27 (a)		8,930,000		8,796,050
Covey Park Energy LLC / Covey Park Finance Corp. 7.500%, 05/15/25 (144A) (a)		13,890,000		12,878,808
Devon Energy Corp. 3.250%, 05/15/22		2,035,000		2,051,677
5.600%, 07/15/41		110,000		122,172
5.850%, 12/15/25		970,000		1,101,362
Diamondback Energy, Inc. 4.750%, 11/01/24		9,328,000		9,536,014
5.375%, 05/31/25 (a)		4,670,000		4,874,313
Eclipse Resources Corp. 8.875%, 07/15/23		2,715,000		2,586,038
Endeavor Energy Resources L.P. / EER Finance, Inc. 5.500%, 01/30/26 (144A)		1,350,000		1,387,125
5.750%, 01/30/28 (144A)		2,180,000		2,289,000
Ensco plc
7.750%, 02/01/26 (a)		1,600,000		1,350,000
EOG Resources, Inc. 4.150%, 01/15/26		1,665,000		1,763,943
Extraction Oil & Gas, Inc. 5.625%, 02/01/26 (144A) (a)		4,170,000		3,200,475
7.375%, 05/15/24 (144A)		5,030,000		4,200,050
Gazprom OAO Via Gaz Capital S.A. 4.950%, 03/23/27 (144A)		10,470,000		10,480,386
Indigo Natural Resources LLC 6.875%, 02/15/26 (144A)		374,000		330,990
KazMunayGas National Co. JSC 5.375%, 04/24/30 (144A)		300,000		314,303
6.375%, 10/24/48 (144A)		1,060,000		1,158,050
Kerr-McGee Corp. 6.950%, 07/01/24		290,000		333,479
7.875%, 09/15/31		285,000		361,712
MEG Energy Corp. 6.500%, 01/15/25 (144A) (a)		4,060,000		3,999,100
7.000%, 03/31/24 (144A) (a)		11,409,000		10,638,892
Noble Energy, Inc. 3.850%, 01/15/28 (a)		1,910,000		1,883,098
6.000%, 03/01/41		10,200,000		11,304,051
Northern Oil and Gas, Inc. 9.500%, 1.000% PIK, 05/15/23 (c)		490,000		507,150
Occidental Petroleum Corp. 3.125%, 02/15/22		110,000		111,565
3.500%, 06/15/25		1,850,000		1,901,899
4.625%, 06/15/45		230,000		251,988
Petrobras Global Finance B.V. 5.750%, 02/01/29		9,670,000		9,578,135
6.850%, 06/05/15 (a)		12,700,000		12,283,440
QEP Resources, Inc. 6.875%, 03/01/21		890,000		912,250
Oil & Gas—(Continued)
Range Resources Corp. 4.875%, 05/15/25 (a)		1,945,000		1,803,988
5.000%, 03/15/23 (a)		2,916,000		2,857,680
5.875%, 07/01/22		850,000		858,500
Shelf Drilling Holdings, Ltd. 8.250%, 02/15/25 (144A)		8,350,000		7,911,625
Shell International Finance B.V. 4.000%, 05/10/46		360,000		375,597
WPX Energy, Inc. 5.750%, 06/01/26 (a)		4,521,000		4,588,815
8.250%, 08/01/23 (a)		5,720,000		6,435,000
YPF S.A. 8.500%, 03/23/21 (a)		8,000,000		8,060,000
				180,418,259
Oil & Gas Services—0.1%
KCA Deutag UK Finance plc 9.875%, 04/01/22 (144A) (a)		3,750,000		3,225,000
Packaging & Containers—0.7%
ARD Securities Finance SARL 8.750%, PIK, 01/31/23 (144A) (a) (c)		2,772,265		2,626,721
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. 4.625%, 05/15/23 (144A)		660,000		664,125
6.000%, 02/15/25 (144A) (a)		5,200,000		5,200,000
7.250%, 05/15/24 (144A) (a)		4,860,000		5,119,767
Pactiv LLC
8.375%, 04/15/27 (a)		6,185,000		6,308,700
WestRock RKT Co. 4.000%, 03/01/23		140,000		142,788
				20,062,101
Pharmaceuticals—4.1%
Allergan Funding SCS 3.450%, 03/15/22		450,000		453,935
4.550%, 03/15/35		3,400,000		3,334,300
4.750%, 03/15/45 (a)		2,645,000		2,641,732
Bausch Health Americas, Inc. 8.500%, 01/31/27 (144A) (a)		1,460,000		1,547,600
9.250%, 04/01/26 (144A)		11,675,000		12,775,952
Bausch Health Cos., Inc. 5.500%, 11/01/25 (144A) (a)		5,070,000		5,177,738
5.625%, 12/01/21 (144A)		2,740,000		2,740,548
BioScrip, Inc. Zero Coupon, 08/15/20 (b) (g)		17,830,000		18,632,350
8.875%, 02/15/21 (a)		4,952,000		5,001,520
Cigna Corp. 4.800%, 08/15/38 (144A)		8,120,000		8,346,038
CVS Health Corp. 3.875%, 07/20/25		496,000		502,271
4.100%, 03/25/25		38,960,000		40,022,307
4.780%, 03/25/38		17,110,000		16,968,631
5.125%, 07/20/45		1,440,000		1,468,485
Mead Johnson Nutrition Co. 4.125%, 11/15/25 (a)		1,653,000		1,755,145

BHFTII-270

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Teva Pharmaceutical Finance Netherlands III B.V. 2.800%, 07/21/23 (a)		6,890,000	$	6,149,734
				127,518,286
Pipelines—3.1%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 5.500%, 10/15/19		600,000		606,018
Blue Racer Midstream LLC / Blue Racer Finance Corp. 6.125%, 11/15/22 (144A)		1,825,000		1,852,375
6.625%, 07/15/26 (144A) (a)		2,910,000		2,968,200
DCP Midstream Operating L.P. 4.950%, 04/01/22 (a)		1,620,000		1,658,475
6.750%, 09/15/37 (144A)		3,480,000		3,584,400
El Paso Natural Gas Co. LLC 7.500%, 11/15/26 (a)		4,250,000		5,181,754
8.375%, 06/15/32		190,000		250,240
Energy Transfer Operating L.P. 5.500%, 06/01/27		1,376,000		1,493,130
5.875%, 01/15/24 (a)		1,638,000		1,791,864
6.250%, 04/15/49		1,090,000		1,221,666
Energy Transfer Partners L.P. / Regency Energy Finance Corp. 5.875%, 03/01/22		780,000		834,006
Enterprise Products Operating LLC 3.700%, 02/15/26		1,072,000		1,098,674
3.750%, 02/15/25		2,100,000		2,163,274
3.900%, 02/15/24		225,000		233,706
5.375%, 3M LIBOR + 2.570%, 02/15/78 (b)		13,090,000		11,676,935
Genesis Energy L.P. / Genesis Energy Finance Corp. 5.625%, 06/15/24 (a)		1,060,000		1,017,600
6.000%, 05/15/23 (a)		6,046,000		6,091,345
IFM U.S. Colonial Pipeline 2 LLC 6.450%, 05/01/21 (144A)		2,500,000		2,587,497
Kinder Morgan, Inc. 4.300%, 06/01/25 (a)		1,240,000		1,293,707
7.800%, 08/01/31 (a)		67,000		86,315
MPLX L.P. 4.875%, 12/01/24		4,500,000		4,804,557
NGPL PipeCo LLC 7.768%, 12/15/37 (144A) (a)		8,380,000		10,056,000
Northwest Pipeline LLC 4.000%, 04/01/27		14,460,000		14,592,815
Rockies Express Pipeline LLC 7.500%, 07/15/38 (144A)		4,485,000		5,033,067
Southern Natural Gas Co. LLC 8.000%, 03/01/32		25,000		34,067
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp.
5.125%, 02/01/25 (a)		4,791,000		4,886,820
5.375%, 02/01/27 (a)		2,770,000		2,832,325
6.500%, 07/15/27 (144A)		10,000		10,788
6.875%, 01/15/29 (144A)		10,000		10,888
Williams Cos., Inc. (The) 8.750%, 03/15/32		4,662,000		6,493,981
				96,446,489
Real Estate—0.3%
Five Point Operating Co. L.P. / Five Point Capital Corp. 7.875%, 11/15/25 (144A)		2,980,000		2,853,350
Hunt Cos., Inc. 6.250%, 02/15/26 (144A)		2,800,000		2,611,000
Newmark Group, Inc. 6.125%, 11/15/23		3,200,000		3,299,300
				8,763,650
Real Estate Investment Trusts—0.8%
CoreCivic, Inc. 4.625%, 05/01/23		820,000		791,300
5.000%, 10/15/22 (a)		5,400,000		5,319,000
CTR Partnership L.P. / CareTrust Capital Corp. 5.250%, 06/01/25		6,560,000		6,584,862
GLP Capital L.P. / GLP Financing II, Inc. 5.375%, 04/15/26		10,000		10,449
5.750%, 06/01/28 (a)		4,400,000		4,724,280
MPT Operating Partnership L.P. / MPT Finance Corp. 5.000%, 10/15/27 (a)		7,770,000		7,905,975
				25,335,866
Retail—1.2%
1011778 BC ULC / New Red Finance, Inc. 5.000%, 10/15/25 (144A) (a)		3,770,000		3,724,006
AutoZone, Inc. 2.500%, 04/15/21		800,000		795,394
Golden Nugget, Inc. 8.750%, 10/01/25 (144A) (a)		9,210,000		9,670,500
L Brands, Inc. 5.250%, 02/01/28		9,112,000		8,121,070
5.625%, 10/15/23		4,550,000		4,646,687
McDonald’s Corp. 3.350%, 04/01/23 (a)		441,000		450,253
3.700%, 01/30/26		1,047,000		1,081,590
Sally Holdings LLC / Sally Capital, Inc. 5.625%, 12/01/25 (a)		1,660,000		1,651,700
Tendam Brands S.A.U. 5.000%, 09/15/24 (144A) (EUR)		1,350,000		1,514,193
5.250%, 3M EURIBOR + 5.250%, 09/15/24 (144A) (EUR) (b)		3,750,000		4,175,014
				35,830,407
Savings & Loans—0.3%
Nationwide Building Society 4.363%, 3M LIBOR + 1.392%, 08/01/24 (144A) (b)		9,910,000		10,072,737
Semiconductors—0.2%
Advanced Micro Devices, Inc. 7.000%, 07/01/24 (a)		3,180,000		3,329,079
Amkor Technology, Inc. 6.625%, 09/15/27 (144A)		3,520,000		3,572,800
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.125%, 01/15/25		280,000		268,533
				7,170,412

BHFTII-271

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Software—0.4%
j2 Cloud Services LLC / j2 Global Co-Obligor, Inc. 6.000%, 07/15/25 (144A)		3,930,000	$	4,082,288
Microsoft Corp. 3.300%, 02/06/27		6,750,000		6,939,017
				11,021,305
Telecommunications—4.1%
Altice France S.A. 7.375%, 05/01/26 (144A)		22,015,000		21,574,700
AT&T, Inc. 4.450%, 04/01/24		3,330,000		3,486,254
British Telecommunications plc 9.625%, 12/15/30		4,915,000		7,031,645
CommScope Technologies LLC 5.000%, 03/15/27 (144A)		2,510,000		2,225,567
6.000%, 06/15/25 (144A) (a)		2,200,000		2,138,840
Deutsche Telekom International Finance B.V. 2.485%, 09/19/23 (144A)		10,717,000		10,430,119
Intelsat Jackson Holdings S.A. 5.500%, 08/01/23		5,400,000		4,792,500
Millicom International Cellular S.A. 6.250%, 03/25/29 (144A) (a)		4,550,000		4,628,760
6.625%, 10/15/26 (144A)		4,290,000		4,504,500
Sprint Capital Corp. 6.875%, 11/15/28 (a)		1,130,000		1,086,213
8.750%, 03/15/32		9,850,000		10,392,735
Sprint Communications, Inc. 11.500%, 11/15/21		1,313,000		1,519,797
Sprint Corp. 7.125%, 06/15/24 (a)		3,510,000		3,562,650
7.250%, 09/15/21		1,390,000		1,459,500
7.875%, 09/15/23		2,700,000		2,835,000
T-Mobile USA, Inc.
4.750%, 02/01/28 (a)		4,590,000		4,549,837
6.500%, 01/15/24 (a)		803,000		833,113
Telecom Italia S.p.A. 5.303%, 05/30/24 (144A) (a)		14,640,000		14,713,200
Telefonica Emisiones S.A. 4.103%, 03/08/27 (a)		5,600,000		5,674,431
Verizon Communications, Inc. 2.625%, 08/15/26		820,000		782,629
3.850%, 11/01/42		5,210,000		4,925,217
4.522%, 09/15/48		1,200,000		1,233,164
5.250%, 03/16/37		660,000		744,185
Vodafone Group plc 4.375%, 05/30/28 (a)		6,090,000		6,195,768
Windstream Services LLC / Windstream Finance Corp. 10.500%, 06/30/24 (144A) (d)		7,715,000		5,689,812
				127,010,136
Transportation—1.1%
Navios Maritime Acquisition Corp. / Navios Acquisition Finance U.S., Inc. 8.125%, 11/15/21 (144A)		4,670,000		3,689,300
Transportation—(Continued)
Neovia Logistics Services LLC / SPL Logistics Finance Corp. 8.875%, 08/01/20 (144A) (a)		8,000,000		7,600,000
Union Pacific Corp. 4.375%, 09/10/38		2,835,000		2,957,360
4.500%, 09/10/48		4,480,000		4,769,921
XPO CNW, Inc. 6.700%, 05/01/34 (a)		14,553,000		12,588,345
XPO Logistics, Inc. 6.125%, 09/01/23 (144A) (a)		1,390,000		1,398,687
				33,003,613
Trucking & Leasing—0.6%
DAE Funding LLC 4.500%, 08/01/22 (144A)		80,000		80,700
5.750%, 11/15/23 (144A) (a)		10,100,000		10,377,750
Park Aerospace Holdings, Ltd. 4.500%, 03/15/23 (144A)		3,800,000		3,781,000
5.250%, 08/15/22 (144A)		5,120,000		5,247,488
				19,486,938
Water—0.1%
Anglian Water Osprey Financing plc 5.000%, 04/30/23 (GBP)		2,650,000		3,354,850
Total Corporate Bonds & Notes (Cost $1,833,113,450)				1,849,002,539
Foreign Government—8.9%
Regional Government—1.0%
Japan Finance Organization for Municipalities 4.000%, 01/13/21		1,900,000		1,946,411
Provincia de Buenos Aires 6.500%, 02/15/23 (144A) (i)		27,940,000		22,701,250
7.875%, 06/15/27 (144A) (i)		3,990,000		2,902,725
9.125%, 03/16/24 (144A) (i)		2,660,000		2,201,150
				29,751,536
Sovereign—7.9%
Abu Dhabi Government International Bond 4.125%, 10/11/47 (144A)		11,190,000		11,288,472
Argentina POM Politica Monetaria 67.546%, ARLLMONP + 2.000%, 06/21/20 (ARS) (b)		307,940,000		7,937,161
Argentine Republic Government International Bonds 4.625%, 01/11/23 (a)		10,080,000		8,255,520
5.625%, 01/26/22		3,620,000		3,122,250
5.875%, 01/11/28 (a)		5,700,000		4,371,900
7.500%, 04/22/26 (a)		13,580,000		11,515,840
7.625%, 04/22/46		1,170,000		921,375
Bahamas Government International Bond 5.750%, 01/16/24 (144A)		1,500,000		1,559,550
Bermuda Government International Bond 4.138%, 01/03/23 (144A)		2,000,000		2,037,500
Bonos de la Nacion Argentina con Ajuste por CER 4.000%, 03/06/20 (ARS) (i)		95,160,000		3,230,209

BHFTII-272

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Brazil Notas do Tesouro Nacional 10.000%, 01/01/21 (BRL)		29,517,000	$	7,879,859
10.000%, 01/01/27 (BRL)		46,432,000		12,581,128
Brazilian Government International Bond 6.000%, 04/07/26 (a)		6,470,000		7,175,295
Ecuador Government International Bonds 7.950%, 06/20/24		9,590,000		9,542,050
8.750%, 06/02/23 (144A)		1,740,000		1,822,650
10.750%, 01/31/29 (144A)		3,400,000		3,745,100
Egypt Government International Bond 7.600%, 03/01/29 (144A)		4,710,000		4,834,674
Ghana Government International Bonds 7.625%, 05/16/29 (144A)		10,140,000		9,911,201
8.125%, 01/18/26 (i)		4,200,000		4,305,840
8.125%, 03/26/32 (144A)		5,880,000		5,851,070
8.950%, 03/26/51 (144A) (i)		770,000		771,440
Indonesia Government International Bonds 5.125%, 01/15/45		3,000,000		3,191,337
5.250%, 01/17/42		15,090,000		16,205,664
Indonesia Treasury Bonds 7.000%, 05/15/22 (IDR)		9,560,000,000		671,321
7.000%, 05/15/27 (IDR)		382,929,000,000		25,884,010
8.375%, 09/15/26 (IDR)		66,608,000,000		4,896,203
Kuwait International Government Bond 3.500%, 03/20/27 (144A)		11,030,000		11,264,387
Mexico Government International Bond 4.125%, 01/21/26		8,170,000		8,341,570
Qatar Government International Bonds 4.817%, 03/14/49 (144A) (a)		3,800,000		3,995,464
5.103%, 04/23/48 (144A)		10,100,000		11,059,500
Russian Federal Bond - OFZ 7.050%, 01/19/28 (RUB)		1,755,525,000		24,962,621
Senegal Government International Bonds 6.250%, 05/23/33 (144A) (i)		8,470,000		8,131,132
6.750%, 03/13/48 (144A) (i)		4,470,000		4,123,575
				245,386,868
Total Foreign Government (Cost $300,312,128)				275,138,404
Mortgage-Backed Securities—8.6%
Collateralized Mortgage Obligations—5.2%
Banc of America Funding Corp. 2.620%, 02/27/37 (144A) (b)		16,069,299		13,118,304
Banc of America Funding Trust 2.857%, 1M LIBOR + 0.165%, 09/29/36 (144A) (b)		40,386,656		30,639,510
3.125%, 03/27/36 (144A) (b)		5,972,381		5,076,200
10.684%, 01/27/30 (144A) (b)		15,798,961		6,929,488
Banc of America Mortgage Trust 4.348%, 09/25/35 (b)		58,284		56,279
BCAP LLC Trust 2.700%, 10/28/36 (144A) (b)		1,346,384		1,339,601
4.265%, 05/26/47 (144A) (b)		7,705,957		7,483,879
Collateralized Mortgage Obligations—(Continued)
Bear Stearns Asset-Backed Securities Trust 22.813%, -4.33x 1M LIBOR + 33.583%, 07/25/36 (b)		408,485		634,372
Countrywide Alternative Loan Trust 3.126%, 1M LIBOR + 0.640%, 07/25/35 (b)		866,787		848,391
5.750%, 01/25/37		2,235,331		1,850,414
6.000%, 01/25/37		2,149,104		1,952,931
11.472%, -2.2x 1M LIBOR + 16.940%, 06/25/35 (b)		1,530,505		1,751,751
15.344%, -3x 1M LIBOR + 22.800%, 02/25/36 (b)		1,456,724		1,532,076
18.658%, -4x 1M LIBOR + 28.600%, 07/25/36 (b)		2,484,608		3,554,701
24.087%, -6x 1M LIBOR + 39.000%, 08/25/37 (b)		1,194,927		1,946,578
Countrywide Alternative Loan Trust Resecuritization 6.000%, 08/25/37 (b)		3,056,414		2,159,805
Countrywide Home Loan Reperforming Loan REMIC Trust 3.717%, 03/25/35 (144A) (b) (d) (j)		5,073,573		571,631
Credit Suisse Mortgage Trust 16.855%, -5.5x 1M LIBOR + 30.525%, 02/25/36 (b)		1,198,326		1,552,202
Flagstar Mortgage Trust 3.500%, 04/25/48 (144A) (b)		12,533,923		12,443,341
GreenPoint MTA Trust 2.926%, 1M LIBOR + 0.440%, 06/25/45 (b)		1,238,816		1,187,408
GSMPS Mortgage Loan Trust 2.886%, 1M LIBOR + 0.400%, 04/25/36 (144A) (b)		699,460		596,500
HarborView Mortgage Loan Trust 3.486%, 1M LIBOR + 1.000%, 10/25/37 (b)		1,252,279		1,253,031
IndyMac INDX Mortgage Loan Trust 3.206%, 1M LIBOR + 0.720%, 01/25/35 (b)		912,429		778,081
JPMorgan Mortgage Trust 2.500%, 03/25/43 (144A) (b)		9,188		9,020
3.500%, 10/25/48 (144A) (b)		9,083,593		9,040,654
6.500%, 01/25/36		95,184		74,026
JPMorgan Resecuritization Trust 2.700%, 1M LIBOR + 0.210%, 07/27/46 (144A) (b)		1,800,254		1,798,093
Lehman XS Trust 2.646%, 1M LIBOR + 0.160%, 03/25/47 (b)		1,271,032		1,247,264
2.686%, 1M LIBOR + 0.200%, 08/25/46 (b)		2,077,663		1,964,802
MASTR Seasoned Securitization Trust 3.992%, 10/25/32 (b)		125,370		127,237
Merrill Lynch Mortgage Investors Trust 4.311%, 05/25/34 (b)		36,645		36,341
4.622%, 08/25/33 (b)		553,798		523,683
Morgan Stanley Mortgage Loan Trust 2.806%, 1M LIBOR + 0.320%, 01/25/35 (b)		579,774		567,950
New Residential Mortgage Loan Trust 4.250%, 09/25/56 (144A) (b)		7,537,175		7,659,816
Nomura Resecuritization Trust 3.010%, 1M LIBOR + 0.260%, 02/26/46 (144A) (b)		4,868,000		4,716,045
NovaStar Mortgage Funding Trust 2.866%, 1M LIBOR + 0.380%, 09/25/46 (b)		707,698		648,638
Prime Mortgage Trust 5.500%, 05/25/35 (144A)		250,305		230,465
6.000%, 05/25/35 (144A)		2,175,491		1,741,096
RBSGC Mortgage Loan Trust 2.936%, 1M LIBOR + 0.450%, 01/25/37 (b)		615,804		391,862
Residential Accredit Loans, Inc. Trust 3.673%, 11/25/37 (b)		3,497,676		3,124,772

BHFTII-273

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Residential Asset Securitization Trust 5.750%, 02/25/36		1,780,185	$	1,767,603
Sequoia Mortgage Trust 3.543%, 6M LIBOR + 0.680%, 06/20/33 (b)		81,367		81,176
3.711%, 07/25/45 (144A) (b)		9,978		10,010
Structured Adjustable Rate Mortgage Loan Trust 3.989%, 1M LIBOR + 1.500%, 09/25/37 (b)		3,654,360		3,571,033
4.296%, 09/25/35 (b)		648,208		569,841
4.297%, 01/25/35 (b)		358,268		352,559
Structured Asset Mortgage Investments Trust 2.696%, 1M LIBOR + 0.210%, 05/25/46 (b)		197,582		167,748
2.766%, 1M LIBOR + 0.280%, 02/25/36 (b)		3,474,753		3,268,760
Structured Asset Securities Corp. Trust 2.836%, 1M LIBOR + 0.350%, 03/25/35 (b)		1,367,645		1,112,279
WaMu Mortgage Pass-Through Certificates Trust 2.375%, COFI + 1.250%, 03/25/47 (b)	1,674,545		1,587,170
2.756%, 1M LIBOR + 0.270%, 12/25/45 (b)		418,547		415,533
2.966%, 1M LIBOR + 0.480%, 12/25/45 (b)		12,457,154		9,012,838
3.807%, 09/25/36 (b)		613,258		563,708
4.154%, 10/25/34 (b)		507,974		509,498
4.195%, -1 x 1M LIBOR + 6.680%, 04/25/37 (b) (g) (j)		10,670,902		2,839,849
4.250%, 08/25/33 (b)		1,164,033		1,158,914
Wells Fargo Mortgage-Backed Securities Trust 4.532%, 10/25/35 (b)		31,096		31,543
4.903%, 06/25/35 (b)		33,303		34,385
				160,212,685
Commercial Mortgage-Backed Securities—3.4%
BAMLL Re-REMIC Trust 5.779%, 08/10/45 (144A) (b)		10,750,262		7,561,735
Bayview Commercial Asset Trust Zero Coupon, 07/25/37 (144A) (d) (e) (j)		2,610,613		0
BX Trust 7.984%, 1M LIBOR + 5.500%, 10/15/32 (144A) (b)		26,480,000		26,314,590
Credit Suisse Commercial Mortgage Trust 5.373%, 12/15/39		550,353		364,037
5.869%, 09/15/40 (b)		4,050,806		3,038,387
6.159%, 06/15/38 (b)		580,531		320,863
10.104%, 1M LIBOR + 7.620%, 07/15/32 (144A) (b)		26,600,000		26,471,216
Credit Suisse Mortgage Capital LLC 4.373%, 09/15/37 (144A)		6,620,000		6,072,784
DBUBS Mortgage Trust 3.750%, 08/10/44 (144A)		5,180,000		3,486,140
GE Business Loan Trust 2.904%, 1M LIBOR + 0.420%, 05/15/34 (144A) (b)		411,522		385,609
GE Commercial Mortgage Corp. Trust 5.439%, 12/10/49 (b)		220,000		50,584
GMAC Commercial Mortgage Securities, Inc. 5.349%, 11/10/45 (b)		1,036,055		956,490
GS Mortgage Securities Trust 5.622%, 11/10/39		1,879,474		1,609,206
JPMorgan Chase Commercial Mortgage Securities Trust
5.322%, 01/15/49 (b)		7,780,000		1,596,057
5.386%, 05/15/47 (b)		2,261,812		848,180
5.502%, 06/12/47 (b)		2,070,000		1,560,403
6.201%, 02/15/51 (b)		189,550		175,808
Commercial Mortgage-Backed Securities—(Continued)
Lone Star Portfolio Trust 9.634%, 1M LIBOR + 7.150%, 09/15/28 (144A) (b)		5,545,947		5,567,132
9.701%, 1M LIBOR + 7.218%, 09/15/20 (144A) (b)		2,845,496		2,865,442
ML-CFC Commercial Mortgage Trust 5.450%, 08/12/48 (b)		523,130		376,392
5.450%, 08/12/48 (144A) (b)		59,855		43,065
5.920%, 09/12/49 (b)		3,155,790		1,641,846
Morgan Stanley Capital Trust 5.399%, 12/15/43		1,126,046		843,863
Multifamily Trust 11.159%, 04/25/46 (144A) (b)		8,739,423		8,864,930
UBS-Barclays Commercial Mortgage Trust 4.893%, 05/10/63 (144A) (b)		4,530,000		2,913,145
Waterfall Commercial Mortgage Trust 4.104%, 09/14/22 (144A) (b)		1,234,363		1,250,712
				105,178,616
Total Mortgage-Backed Securities (Cost $254,839,507)				265,391,301
Floating Rate Loans (k)—7.8%
Aerospace/Defense—0.2%
Panther BF Aggregator L.P. Term Loan B, 03/18/26 (l)		7,780,000		7,702,006
Auto Components—0.3%
American Axle & Manufacturing, Inc. Term Loan B, 4.740%, 1M LIBOR + 2.250%, 04/06/24		8,242,861		8,069,414
Commercial Services—0.8%
Albany Molecular Research, Inc. 1st Lien Term Loan, 5.749%, 1M LIBOR + 3.250%, 08/30/24		7,111,700		6,999,101
Jaguar Holding Co. II Term Loan, 4.999%, 1M LIBOR + 2.500%, 08/18/22		6,182,968		6,126,344
Parexel International Corp. Term Loan B, 5.249%, 1M LIBOR + 2.750%, 09/27/24		4,220,030		4,073,384
Prime Security Services Borrower LLC 1st Lien Term Loan, 5.249%, 1M LIBOR + 2.750%, 05/02/22		8,124,563		8,054,927
				25,253,756
Entertainment—0.2%
Scientific Games International, Inc. Term Loan B5, 5.314%, 2M LIBOR + 2.750%, 08/14/24		5,531,947		5,388,708
Food—0.3%
Albertson’s LLC Term Loan B6, 5.479%, 1M LIBOR + 3.000%, 06/22/23		6,783,863		6,734,395
Post Holdings, Inc. Incremental Term Loan, 4.490%, 1M LIBOR + 2.000%, 05/24/24		1,824,390		1,812,987
				8,547,382

BHFTII-274

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Floating Rate Loans (k)—(Continued)

Security Description	Principal Amount*		Value
Health Care Technology—0.1%
VVC Holding Corp. Term Loan B, 7.197%, 3M LIBOR + 4.500%, 02/11/26		4,970,000	$	4,903,735
Healthcare-Services—0.5%
MPH Acquisition Holdings LLC Term Loan B, 5.351%, 3M LIBOR + 2.750%, 06/07/23		7,007,636		6,791,275
RadNet, Inc. Term Loan, 6.529%, 3M LIBOR + 3.750%, 06/30/23		4,863,636		4,875,796
Wink Holdco, Inc. 1st Lien Term Loan B, 5.499%, 1M LIBOR + 3.000%, 12/02/24		2,795,522		2,709,909
				14,376,980
Hotels, Restaurants & Leisure—0.3%
CEC Entertainment, Inc. Term Loan B, 5.749%, 1M LIBOR + 3.250%, 02/14/21		8,626,082		8,367,300
Insurance—0.3%
UFC Holdings LLC 1st Lien Term Loan, 5.750%, 1M LIBOR + 3.250%, 08/18/23		8,277,750		8,232,909
Internet—0.2%
Ancestry.com Operations, Inc. 1st Lien Term Loan, 5.750%, 1M LIBOR + 3.250%, 10/19/23		5,868,926		5,839,581
Internet Software & Services—0.2%
Travelport Finance (Luxembourg) S.a.r.l. Term Loan, 03/13/26 (l)		3,840,000		3,739,200
Term Loan B, 5.184%, 3M LIBOR + 2.500%, 03/17/25		3,834,711		3,833,204
				7,572,404
IT Services—0.0%
McAfee LLC 2018 USD Term Loan B, 09/30/24 (l)		821,935		820,805
Leisure Time—0.1%
Intrawest Resorts Holdings, Inc. Term Loan B1, 5.499%, 1M LIBOR + 3.000%, 07/31/24		3,041,500		3,030,727
Lodging—0.5%
Boyd Gaming Corp. Term Loan B3, 4.658%, 1W LIBOR + 2.250%, 09/15/23		4,169,640		4,130,029
Caesars Resort Collection LLC 1st Lien Term Loan B, 5.249%, 1M LIBOR + 2.750%, 12/22/24		8,690,000		8,604,655
MGM Growth Properties Operating Partnership L.P. Term Loan B, 4.499%, 1M LIBOR + 2.000%, 03/21/25		2,444,803		2,412,206
				15,146,890
Media—0.7%
Advantage Sales & Marketing, Inc. 1st Lien Term Loan, 5.749%, 1M LIBOR + 3.250%, 07/23/21		6,940,979		5,925,861
Media—(Continued)
CBS Radio, Inc. Term Loan B, 5.249%, 1M LIBOR + 2.750%, 11/18/24		5,120,471		4,992,460
Lions Gate Capital Holdings LLC Term Loan B, 4.749%, 1M LIBOR + 2.250%, 03/24/25		3,281,103		3,251,025
Unitymedia Finance LLC Term Loan B, 4.734%, 1M LIBOR + 2.250%, 09/30/25		130,000		128,932
Univision Communications, Inc. Term Loan C5, 5.249%, 1M LIBOR + 2.750%, 03/15/24		8,445,503		7,977,985
				22,276,263
Packaging & Containers—0.5%
Berry Global, Inc. Term Loan Q, 4.610%, 3M LIBOR + 2.000%, 10/01/22		8,435,786		8,397,293
Reynolds Group Holdings, Inc. Term Loan, 5.249%, 1M LIBOR + 2.750%, 02/05/23		7,912,466		7,829,813
				16,227,106
Pharmaceuticals—0.1%
Change Healthcare Holdings LLC Term Loan B, 5.249%, 1M LIBOR + 2.750%, 03/01/24		2,583,211		2,550,921
Professional Services—0.0%
Trans Union LLC Term Loan B3, 4.499%, 1M LIBOR + 2.000%, 04/10/23		1,031,076		1,023,251
Retail—1.3%
Academy, Ltd. Term Loan B, 6.490%, 1M LIBOR + 4.000%, 07/01/22		8,793,967		6,359,138
CWGS Group LLC Term Loan, 5.240%, 1M LIBOR + 2.750%, 11/08/23		1,300,075		1,168,442
Michaels Stores, Inc. Term Loan B, 4.997%, 1M LIBOR + 2.500%, 01/30/23		6,550,246		6,427,429
Party City Holdings, Inc. Term Loan B, 5.000%, 1M LIBOR + 2.500%, 08/19/22		3,431,329		3,411,170
Petco Animal Supplies, Inc. Term Loan B, 5.994%, 3M LIBOR + 3.250%, 01/26/23		4,935,277		3,795,228
PetSmart, Inc. Term Loan B2, 5.490%, 1M LIBOR + 3.000%, 03/11/22		20,950,318		18,842,193
				40,003,600
Software—0.4%
Almonde, Inc. 1st Lien Term Loan, 6.101%, 3M LIBOR + 3.500%, 06/13/24		4,194,614		4,050,097
First Data Corp. Term Loan, 4.486%, 1M LIBOR + 2.000%, 04/26/24		5,599,274		5,588,776
MA FinanceCo. LLC Term Loan B3, 4.999%, 1M LIBOR + 2.500%, 06/21/24		466,063		453,634
Seattle Spinco, Inc. Term Loan B3, 4.999%, 1M LIBOR + 2.500%, 06/21/24		3,147,437		3,063,504
				13,156,011

BHFTII-275

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Floating Rate Loans (k)—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—0.5%
Intelsat Jackson Holdings S.A. Term Loan B3, 11/27/23 (l)		2,489,500	$	2,447,490
Level 3 Financing, Inc. Term Loan B, 4.736%, 3M LIBOR + 2.250%, 02/22/24		6,960,000		6,890,400
UPC Financing Partnership Term Loan AR, 4.984%, 1M LIBOR + 2.500%, 01/15/26		7,362,937		7,344,941
				16,682,831
Trucking & Leasing—0.3%
Avolon TLB Borrower 1 (U.S.) LLC Term Loan B3, 4.488%, 1M LIBOR + 2.000%, 01/15/25		8,292,750		8,239,510
Total Floating Rate Loans (Cost $251,004,960)				243,412,090
Asset-Backed Securities—5.8%
Asset-Backed - Automobile—0.3%
Avis Budget Rental Car Funding AESOP LLC 3.700%, 03/20/23 (144A)		7,700,000		7,767,840
Asset-Backed - Credit Card—0.1%
CreditShop Credit Card Co. LLC 10.489%, 1M LIBOR + 8.000%, 10/15/22 (144A) (b)		4,306,966		4,329,939
Asset-Backed - Home Equity—0.2%
Asset-Backed Securities Corp. Home Equity Loan Trust 5.334%, 1M LIBOR + 2.850%, 04/15/33 (b)		390		393
Bear Stearns Asset-Backed Securities Trust 3.226%, 1M LIBOR + 0.740%, 01/25/34 (b)		11,660		11,057
EMC Mortgage Loan Trust 3.386%, 1M LIBOR + 0.900%, 05/25/43 (144A) (b)		154,652		153,315
Structured Asset Securities Corp. Mortgage Loan Trust 2.706%, 1M LIBOR + 0.220%, 02/25/36 (144A) (b)		2,598,756		124,130
WaMu Asset-Backed Certificates Trust 2.656%, 1M LIBOR + 0.170%, 07/25/47 (b)		9,599,761		7,399,788
				7,688,683
Asset-Backed - Manufactured Housing—0.2%
Origen Manufactured Housing Contract Trust 4.322%, 10/15/37 (b)		1,065,419		1,007,608
4.902%, 04/15/37 (b)		1,120,974		1,069,663
UCFC Manufactured Housing Contract 7.095%, 04/15/29 (b)		3,432,217		3,288,039
				5,365,310
Asset-Backed - Other—5.0%
AIMCO CLO 6.441%, 3M LIBOR + 3.680%, 07/20/29 (144A) (b)		6,750,000		6,733,435
American Money Management Corp. CLO, Ltd. 8.583%, 3M LIBOR + 5.810%, 04/17/29 (144A) (b)		6,600,000		6,213,557
Amortizing Residential Collateral Trust 4.286%, 1M LIBOR + 1.800%, 08/25/32 (b)		23,169		20,600
Applebee’s Funding LLC / IHOP Funding LLC 4.277%, 09/05/44 (144A)		5,144,875		5,167,290
Asset-Backed - Other—(Continued)
Ares CLO, Ltd. 9.337%, 3M LIBOR + 6.550%, 10/15/29 (144A) (b)		9,300,000		9,189,023
Avery Point VI CLO, Ltd. 5.683%, 3M LIBOR + 2.950%, 08/05/27 (144A) (b)		2,280,000		2,226,573
Barings CLO, Ltd. 10.230%, 3M LIBOR + 7.450%, 07/18/29 (144A) (b)		1,700,000		1,516,026
Bear Stearns Asset-Backed Securities Trust 6.000%, 10/25/36		1,575,837		1,177,364
BlueMountain CLO, Ltd. 8.394%, 3M LIBOR + 5.750%, 11/20/28 (144A) (b)		3,350,000		3,172,316
Carlyle U.S. CLO, Ltd. 6.461%, 3M LIBOR + 3.700%, 07/20/31 (144A) (b)		9,500,000		9,450,391
Catskill Park CLO, Ltd. 8.761%, 3M LIBOR + 6.000%, 04/20/29 (144A) (b)		7,600,000		7,336,918
Cent CLO 24, Ltd. 5.937%, 3M LIBOR + 3.150%, 10/15/26 (144A) (b)		5,240,000		5,161,704
Cook Park CLO, Ltd. 8.173%, 3M LIBOR + 5.400%, 04/17/30 (144A) (b)		750,000		698,633
Countrywide Asset-Backed Certificates Trust 4.361%, 1M LIBOR + 1.875%, 06/25/34 (b)		114,427		105,419
Countrywide Revolving Home Equity Loan Resecuritization Trust 2.784%, 1M LIBOR + 0.300%, 12/15/33 (144A) (b)		136,098		126,501
Countrywide Revolving Home Equity Loan Trust 2.624%, 1M LIBOR + 0.140%, 07/15/36 (b)		239,073		228,635
Cumberland Park CLO, Ltd. 8.411%, 3M LIBOR + 5.650%, 07/20/28 (144A) (b)		2,400,000		2,361,694
CVP CLO, Ltd. 5.411%, 3M LIBOR + 2.650%, 01/20/31 (144A) (b)		4,500,000		4,202,298
Greenwood Park CLO, Ltd. 7.737%, 04/15/31 (144A)		7,380,000		6,642,738
Greywolf CLO, Ltd. Zero Coupon, 3M LIBOR + 3.950%, 04/17/30 (144A) (b)		4,480,000		4,446,400
LCM XXII, Ltd. 8.261%, 3M LIBOR + 5.500%, 10/20/28 (144A) (b)		5,000,000		4,735,670
Long Beach Mortgage Loan Trust 3.007%, 1M LIBOR + 0.520%, 01/21/31 (b)		14,560		14,236
Midocean Credit CLO VII 6.667%, 3M LIBOR + 3.880%, 07/15/29 (144A) (b)		4,000,000		3,979,020
Oaktree CLO, Ltd. 7.961%, 3M LIBOR + 5.200%, 10/20/27 (144A) (b)		5,500,000		5,350,125
Ocean Trails CLO 10.537%, 3M LIBOR + 7.750%, 07/15/28 (144A) (b)		5,120,000		5,094,912
Octagon Investment Partners XXIII, Ltd. 8.537%, 3M LIBOR + 5.750%, 07/15/27 (144A) (b)		4,910,000		4,861,474
Ratchet Trading, Ltd. 15.190%, 01/26/27 (144A) (b)		1,530,747		1,524,710
SACO I Trust 2.826%, 1M LIBOR + 0.340%, 03/25/36 (b)		43,403		42,480
Saranac CLO III, Ltd. 5.857%, 3M LIBOR + 3.250%, 06/22/30 (144A) (b)		4,652,500		4,531,795
SBA Small Business Investment Cos. 2.845%, 03/10/27		3,846,977		3,866,160
SoFi Consumer Loan Program LLC 3.280%, 01/26/26 (144A)		1,951,449		1,958,139
TCI-Symphony CLO, Ltd. 5.797%, 3M LIBOR + 3.000%, 10/13/29 (144A) (b)		1,700,000		1,662,102
8.297%, 3M LIBOR + 5.500%, 10/13/29 (144A) (b)		5,150,000		4,927,989

BHFTII-276

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Thayer Park CLO, Ltd. 8.861%, 3M LIBOR + 6.100%, 04/20/29 (144A) (b)		8,400,000	$	8,158,198
Treman Park CLO, Ltd. 5.411%, 3M LIBOR + 2.650%, 10/20/28 (144A) (b)		1,250,000		1,210,545
8.261%, 3M LIBOR + 5.500%, 10/20/28 (144A) (b)		1,750,000		1,708,838
Upgrade Pass-Through Trust 5.339%, 10/15/24 (144A)		1,593,787		1,594,873
12.075%, 09/15/24 (144A)		1,793,115		1,793,210
14.960%, 12/27/27 (144A) (b)		1,856,029		1,844,964
15.309%, 08/15/24 (144A)		2,081,766		2,081,876
15.498%, 06/15/24 (144A)		1,829,635		1,829,732
16.537%, 05/15/24 (144A)		1,735,053		1,734,278
Venture CLO, Ltd. 8.527%, 04/15/27 (144A)		4,000,000		3,857,112
Voya CLO, Ltd. 8.807%, 3M LIBOR + 6.020%, 06/07/30 (144A) (b)		3,500,000		3,380,688
WhiteHorse, Ltd. 6.076%, 3M LIBOR + 3.650%, 10/15/31 (144A) (b)		6,180,000		5,971,919
				153,892,560
Asset-Backed - Student Loan—0.0%
SoFi Professional Loan Program LLC Zero Coupon, 08/25/36 (144A)		500		910,193
Total Asset-Backed Securities (Cost $183,718,948)				179,954,525
U.S. Treasury & Government Agencies—5.2%
Agency Sponsored Mortgage-Backed—4.8%
Fannie Mae 15 Yr. Pool 3.000%, TBA (m)		100,000		100,912
5.000%, 12/01/21		5,023		5,136
Fannie Mae 20 Yr. Pool 3.000%, 12/01/37		1,900,555		1,912,717
Fannie Mae 30 Yr. Pool
3.000%, 11/01/46		3,325,278		3,311,634
3.000%, 11/01/48		789,135		785,992
4.000%, TBA (m)		900,000		925,805
5.000%, 01/01/39		252,808		271,639
5.000%, 06/01/40		144,916		156,253
5.000%, 07/01/40		102,037		110,072
5.000%, 11/01/48		571,179		604,170
5.000%, TBA (m)		100,000		105,732
6.000%, 07/01/38		14,650		15,923
6.500%, 08/01/31		278		307
6.500%, 12/01/36		913		1,051
6.500%, 06/01/37		15,609		17,239
6.500%, 10/01/37		13,526		15,055
7.000%, 05/01/26		1,085		1,129
7.000%, 07/01/30		243		247
7.000%, 01/01/31		253		270
7.000%, 07/01/31		1,151		1,217
7.000%, 09/01/31		2,429		2,653
7.000%, 10/01/31		2,334		2,620
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
7.000%, 11/01/31		16,897		17,728
7.000%, 01/01/32		5,359		5,443
7.000%, 02/01/32		2,395		2,400
7.500%, 12/01/29		430		434
7.500%, 01/01/30		380		442
7.500%, 02/01/30		299		300
7.500%, 06/01/30		140		140
7.500%, 08/01/30		77		78
7.500%, 09/01/30		503		561
7.500%, 10/01/30		24		24
7.500%, 11/01/30		9,298		9,680
7.500%, 02/01/31		1,076		1,085
8.000%, 08/01/27		175		178
8.000%, 07/01/30		446		528
8.000%, 09/01/30		371		384
Fannie Mae Pool 3.500%, 02/01/47		31,254,782		31,803,095
3.500%, 02/01/48		99,358		100,938
Fannie Mae REMICS (CMO) 2.836%, 1M LIBOR + 0.350%, 05/25/34 (b)		94,322		94,115
4.500%, 06/25/29		175,518		181,482
9.750%, 08/25/19		14		14
Freddie Mac 20 Yr. Gold Pool 3.000%, 02/01/38		2,226,202		2,229,756
3.000%, 04/01/38		1,961,384		1,966,081
Freddie Mac 30 Yr. Gold Pool 3.000%, 04/01/47		1,525,885		1,521,252
3.000%, 04/01/49		6,500,000		6,475,440
4.000%, 09/01/48		2,205,804		2,275,861
4.000%, TBA (m)		3,200,000		3,294,437
5.000%, 11/01/48		96,799		102,475
5.000%, TBA (m)		600,000		635,332
6.000%, 12/01/36		11,144		12,117
6.000%, 02/01/37		11,152		12,280
7.000%, 03/01/39		91,582		104,813
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 1.330%, 08/25/42 (b) (j)		70,400,000		2,769,163
Freddie Mac REMICS (CMO) 1,156.500%, 06/15/21 (j)		1		5
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 5.736%, 1M LIBOR + 3.250%, 07/25/29 (b)		11,730,000		12,587,443
5.936%, 1M LIBOR + 3.450%, 10/25/29 (b)		17,780,000		19,214,305
6.936%, 1M LIBOR + 4.450%, 03/25/30 (b)		8,840,000		9,484,862
6.986%, 1M LIBOR + 4.500%, 02/25/24 (b)		2,210,000		2,462,487
7.636%, 1M LIBOR + 5.150%, 10/25/29 (b)		10,500,000		11,860,333
13.486%, 1M LIBOR + 11.000%, 10/25/48 (144A) (b)		6,500,000		6,789,434
Ginnie Mae I 30 Yr. Pool 3.000%, 09/15/42		34,054		34,332
3.000%, 11/15/42		38,679		38,996
3.500%, 06/15/48		4,098,600		4,206,043
5.000%, 04/15/35		9,244		9,928
5.500%, 01/15/34		41,576		45,724
5.500%, 04/15/34		12,407		13,642
5.500%, 07/15/34		71,886		79,055

BHFTII-277

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae I 30 Yr. Pool
5.500%, 10/15/34		44,449	$	48,093
5.750%, 10/15/38		94,404		102,089
6.000%, 02/15/33		1,238		1,391
6.000%, 03/15/33		4,000		4,405
6.000%, 06/15/33		3,677		4,123
6.000%, 07/15/33		6,102		6,765
6.000%, 09/15/33		4,973		5,360
6.000%, 10/15/33		2,401		2,615
6.000%, 08/15/34		13,757		14,826
6.500%, 03/15/29		765		839
6.500%, 02/15/32		721		826
6.500%, 03/15/32		841		966
6.500%, 11/15/32		3,691		4,110
7.000%, 03/15/31		92		93
Ginnie Mae II 30 Yr. Pool 3.000%, 01/20/47		80,028		80,547
3.000%, 09/20/47		719,814		723,623
3.000%, 11/20/47		2,883,825		2,898,512
3.500%, 06/20/44		1,807,987		1,853,005
3.500%, 03/20/45		41,149		42,130
3.500%, TBA (m)		6,100,000		6,234,391
4.000%, 12/20/47		173,288		179,051
4.000%, TBA (m)		1,600,000		1,652,563
4.500%, TBA (m)		100,000		103,845
5.000%, 08/20/34		44,112		47,199
5.000%, 11/20/48		98,793		103,508
5.000%, 12/20/48		1,787,864		1,875,285
5.000%, 01/20/49		896,099		938,474
5.500%, 03/20/34		6,404		7,022
6.000%, 05/20/32		8,556		9,500
6.000%, 11/20/33		10,299		11,635
Ginnie Mae II ARM Pool 4.030%, 1Y H15 + 1.440%, 01/20/60 (b)		636,373		651,715
4.334%, 1Y H15 + 1.755%, 05/20/60 (b)		450,250		462,008
Government National Mortgage Association (CMO) 0.397%, 03/16/47 (b) (j)		6,588,383		85,603
0.441%, 04/16/52 (b) (j)		10,296,840		135,764
2.809%, 1M LIBOR + 0.300%, 05/20/68 (b)		3,003,668		2,985,885
3.000%, 04/20/41		423,837		424,563
				150,494,747
Federal Agencies—0.1%
Tennessee Valley Authority 5.980%, 04/01/36		1,760,000		2,362,847
U.S. Treasury—0.3%
U.S. Treasury Bond 3.375%, 11/15/48		1,410,000		1,572,866
U.S. Treasury Notes 2.625%, 02/15/29		6,610,000		6,738,585
				8,311,451
Total U.S. Treasury & Government Agencies (Cost $159,973,635)				161,169,045
Convertible Bonds—1.2%
Security Description	Shares/ Principal Amount*		Value
Commercial Services—0.1%
Chegg, Inc. 0.125%, 03/15/25		2,600,000		2,561,431
Computers—0.1%
Western Digital Corp. 1.500%, 02/01/24 (a)		1,820,000		1,600,713
Internet—0.2%
Twitter, Inc. 0.250%, 06/15/24 (144A)		2,730,000		2,526,289
1.000%, 09/15/21		5,490,000		5,165,877
				7,692,166
Media—0.6%
DISH Network Corp. 2.375%, 03/15/24 (a)		5,890,000		4,858,491
3.375%, 08/15/26 (a)		4,680,000		3,975,661
Liberty Media Corp. 2.125%, 03/31/48 (144A)		6,410,000		6,121,550
2.250%, 12/01/48 (144A)		4,030,000		4,492,418
				19,448,120
Oil & Gas—0.1%
Chesapeake Energy Corp. 5.500%, 09/15/26		4,120,000		3,817,568
Pipelines—0.1%
Cheniere Energy, Inc. 4.250%, 03/15/45 (a)		2,020,000		1,579,388
Total Convertible Bonds (Cost $37,967,219)				36,699,386
Convertible Preferred Stock—0.2%
Banks—0.2%
Wells Fargo & Co., Series L 7.500% (Cost $5,598,292)		4,965		6,416,518
Municipals—0.1%
Massachusetts State Development Finance Agency, Board Institute, Revenue Bond 5.375%, 04/01/41		400,000		430,548
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds 5.000%, 12/15/30		750,000		813,870
5.000%, 12/15/31		1,550,000		1,677,782
Virginia Housing Development Authority 6.000%, 06/25/34		578,842		611,472
Total Municipals (Cost $3,459,634)				3,533,672

BHFTII-278

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Preferred Stocks—0.1%

Security Description	Shares/ Principal Amount*		Value
Banks—0.0%
Citigroup Capital, 9.121%, 3M LIBOR + 6.370%, 10/30/40 (b)		51,160	$	1,399,226
Capital Markets—0.1%
B. Riley Financial, Inc., 6.875%, 09/30/23		64,075		1,623,020
Total Preferred Stocks (Cost $2,970,015)				3,022,246
Common Stocks—0.1%
Diversified Consumer Services—0.0%
Ascent CNR Corp. - Class A (g) (n)		1,399,556		27,991
Media—0.0%
Cengage Learning, Inc. (n)		10,995		71,468
ION Media Networks, Inc. (n)		785		520,062
				591,530
Oil, Gas & Consumable Fuels—0.1%
Berry Petroleum Corp. (a)		169,957		1,961,304
Total Common Stocks (Cost $4,090,193)				2,580,825
Escrow Shares—0.0%
Energy Equipment & Services—0.0%
Hercules Offshore, Inc. (g) (h) (o)		10,611		8,381
Forest Products & Paper—0.0%
Sino-Forest Corp. (o)		1,246,000		0
Sino-Forest Corp. (o)		500,000		0
				0
Oil & Gas—0.0%
Berry Petroleum Co. LLC (f) (g) (h) (o)		850,000		0
Berry Petroleum Co. LLC (f) (g) (h) (o)		1,040,000		0
				0
Total Escrow Shares (Cost $463,409)				8,381
Short-Term Investments—1.7%
Repurchase Agreements—1.7%
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $41,008,713; collateralized by U.S. Treasury Note at 1.750%, maturing 05/15/22, with a market value of $41,809,269.		41,000,000		41,000,000
Repurchase Agreements—(Continued)
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $13,673,465; collateralized by U.S. Treasury Note at 2.125%, maturing 12/31/21, with a market value of $13,949,065.		13,672,098		13,672,098
Total Short-Term Investments (Cost $54,672,098)				54,672,098
Securities Lending Reinvestments (p)—11.3%
Certificates of Deposit—7.0%
Banco Santander S.A. 2.790%, 04/16/19		2,000,000		2,000,342
Bank of Montreal (Chicago) 2.813%, 1M LIBOR + 0.330%, 08/06/19 (b)		5,000,000		5,004,830
Bank of Nova Scotia 2.860%, SOFR + 0.430%, 05/16/19 (b)		5,000,000		4,999,997
Barclays Bank plc 2.950%, 08/02/19		5,000,000		5,001,350
BNP Paribas S.A. New York 2.784%, 3M LIBOR + 0.050%, 11/06/19 (b)		2,000,000		2,000,000
Canadian Imperial Bank of Commerce 2.734%, 1M LIBOR + 0.250%, 10/15/19 (b)		10,000,000		10,008,200
2.752%, 1M LIBOR + 0.270%, 07/19/19 (b)		7,000,000		7,004,277
Commonwealth Bank of Australia 2.901%, 3M LIBOR + 0.140%, 04/23/19 (b)		3,500,000		3,500,861
Credit Agricole S.A. 2.698%, 1M LIBOR + 0.210%, 12/20/19 (b)		7,000,000		7,000,364
2.807%, 1M LIBOR + 0.320%, 05/21/19 (b)		5,000,000		5,001,290
Credit Industriel et Commercial Zero Coupon, 08/01/19		2,956,248		2,973,030
2.887%, 3M LIBOR + 0.090%, 10/15/19 (b)		5,000,000		5,001,815
Credit Suisse AG 2.620%, 04/01/19		5,000,000		5,000,070
2.860%, SOFR + 0.430%, 05/02/19 (b)		2,000,000		2,000,000
HSBC Bank USA, N.A. 2.738%, 3M LIBOR + 0.000%, 08/05/19 (b)		5,000,000		4,999,551
Industrial & Commercial Bank of China, Ltd. 2.710%, 05/21/19		5,000,000		5,000,420
KBC Bank NV Zero Coupon, 04/23/19		2,979,439		2,995,740
Mitsubishi UFJ Trust and Banking Corp. Zero Coupon, 04/16/19		1,986,196		1,997,560
Zero Coupon, 05/08/19		1,986,147		1,994,420
Zero Coupon, 05/08/19		993,321		997,210
Mizuho Bank, Ltd. Zero Coupon, 05/28/19		4,966,855		4,979,239
Mizuho Bank, Ltd., New York 2.789%, 1M LIBOR + 0.300%, 05/01/19 (b)		2,000,000		2,000,394
2.863%, 3M LIBOR + 0.080%, 07/09/19 (b)		3,000,000		2,999,735
2.908%, 04/03/19		4,006,374		3,999,650
MUFG Bank Ltd. 2.789%, 1M LIBOR + 0.300%, 05/01/19 (b)		2,000,000		2,000,358
2.800%, 07/16/19		1,000,000		1,000,618

BHFTII-279

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (p)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Natixis New York
2.788%, 3M LIBOR + 0.090%, 05/10/19 (b)		4,000,000	$	4,000,856
2.937%, 3M LIBOR + 0.150%, 10/15/19 (b)		2,000,000		2,001,266
Royal Bank of Canada New York 2.692%, 1M LIBOR + 0.210%, 09/17/19 (b)		8,000,000		8,004,496
Skandinaviska Enskilda Banken 2.672%, 1M LIBOR + 0.190%, 04/17/19 (b)		7,000,000		7,000,462
Societe Generale 2.863%, 3M LIBOR + 0.080%, 07/09/19 (b)		3,000,000		3,000,243
2.899%, 3M LIBOR + 0.160%, 05/07/19 (b)		4,000,000		4,001,008
Standard Chartered plc 2.660%, 08/23/19		10,000,000		10,001,780
3.009%, 3M LIBOR + 0.230%, 04/24/19 (b)		5,000,000		5,000,620
State Street Bank and Trust 2.754%, 1M LIBOR + 0.270%, 05/15/19 (b)		7,000,000		7,001,603
Sumitomo Mitsui Banking Corp. 2.683%, 1M LIBOR + 0.190%, 04/11/19 (b)		10,000,000		10,000,380
Sumitomo Mitsui Banking Corp., New York 2.651%, 1M LIBOR + 0.170%, 08/07/19 (b)		3,000,053		3,000,528
2.690%, 1M LIBOR + 0.200%, 04/03/19 (b)		2,000,016		2,000,032
Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 05/20/19		4,952,835		4,981,900
Zero Coupon, 08/06/19		986,338		990,660
Zero Coupon, 08/08/19		986,362		990,280
2.600%, 07/05/19		9,000,000		9,000,459
Svenska Handelsbanken AB 2.799%, 1M LIBOR + 0.300%, 10/31/19 (b)		2,000,000		2,002,266
2.851%, 3M LIBOR + 0.100%, 04/30/19 (b)		5,000,000		5,001,350
Toronto-Dominion Bank 2.692%, 1M LIBOR + 0.210%, 09/17/19 (b)		6,000,000		6,003,084
U.S. Bank N.A. 2.746%, 1M LIBOR + 0.260%, 07/23/19 (b)		6,000,000		6,002,460
Wells Fargo Bank N.A. 2.939%, 3M LIBOR + 0.140%, 07/11/19 (b)		8,000,000		7,999,371
2.975%, 3M LIBOR + 0.210%, 10/25/19 (b)		4,000,000		4,000,000
Westpac Banking Corp. 2.710%, FEDEFF PRV + 0.300%, 02/14/20 (b)		4,000,000		3,999,977
				217,446,402
Commercial Paper—2.6%
Alpine Securities Ltd. 2.669%, 1M LIBOR + 0.180%, 04/03/19 (b)		4,000,000		4,000,052
Bank of China, Ltd.
2.890%, 04/17/19		6,949,425		6,990,053
2.890%, 04/18/19		4,965,481		4,992,510
Barton Capital S.A. 2.650%, 05/02/19		2,980,125		2,992,740
China Construction Bank Corp. 2.840%, 04/29/19		4,962,922		4,988,950
2.860%, 04/18/19		4,964,250		4,992,905
Fairway Finance Corp. 2.600%, 05/07/19		4,966,778		4,986,115
HSBC Bank plc 2.819%, 1M LIBOR + 0.320%, 07/30/19 (b)		3,000,000		3,000,000
Commercial Paper—(Continued)
Industrial & Commercial Bank of China, Corp. 2.880%, 04/18/19		4,964,000		4,992,605
2.920%, 04/15/19		4,961,878		4,993,720
ING Funding LLC
2.778%, 3M LIBOR + 0.040%, 11/04/19 (b)		2,000,000		2,000,278
2.807%, 3M LIBOR + 0.110%, 05/10/19 (b)		10,000,000		10,002,470
Matchpoint Finance plc 2.890%, 05/08/19		4,927,349		4,985,295
Royal Bank of Canada 2.957%, 3M LIBOR + 0.160%, 01/14/20 (b)		3,000,000		3,003,135
Sheffield Receivables Co. 2.900%, SOFR + 0.470%, 05/30/19 (b)		5,000,000		5,000,000
Toronto-Dominion Bank 2.832%, 1M LIBOR + 0.350%, 11/05/19 (b)		7,000,000		7,009,772
Westpac Banking Corp. 2.766%, 1M LIBOR + 0.280%, 05/24/19 (b)		2,000,000		2,000,854
				80,931,454
Repurchase Agreements—1.3%
Citadel Clearing LLC Repurchase Agreement dated 03/29/19 at 3.010%, due on 07/01/19 with a maturity value of $8,062,876; collateralized by various Common Stock with an aggregate market value of $8,802,208.		8,000,000		8,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $2,005,444; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 05/03/19 with a maturity value of $5,013,611; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $100,020; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $102,000.		100,000		100,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $100,023; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $102,000.		100,000		100,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $500,104; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $510,000.		500,000		500,000

BHFTII-280

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (p)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000	$	2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $8,372,640; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $8,538,300.		8,370,882		8,370,882
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.950%, due on 04/12/19 with a maturity value of $13,134,045; collateralized by various Common Stock with an aggregate market value of $13,750,009.		12,500,000		12,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $1,310,301; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $1,392,763.		1,300,000		1,300,000
				39,870,882
Time Deposits—0.4%
Natixis New York 2.400%, 04/01/19		500,000		500,000
Nordea Bank New York 2.350%, 04/01/19		1,000,000		1,000,000
Skandi New York 2.380%, 04/01/19		2,000,000		2,000,000
Svenska, New York 2.360%, 04/01/19		8,000,000		8,000,000
				11,500,000
Total Securities Lending Reinvestments (Cost $349,686,827)				349,748,738
Total Purchased Options—0.1% (q) (Cost $2,932,502)				2,026,659
Total Investments—110.8% (Cost $3,444,802,817)				3,432,776,427
Other assets and liabilities (net)—(10.8)%				(335,813,906	)
Net Assets—100.0%			$	3,096,962,521

*	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 March 31, 2019, the market value of securities loaned was $333,237,686 and the collateral received consisted of cash in the amount of $349,313,272. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Payment-in-kind security for which part of the income earned may be paid as additional principal.
(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2019, the market value of restricted securities was $10,201,091, which is 0.3% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(f)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(g)	Illiquid security. As of March 31, 2019, these securities represent 0.7% of net assets.
(h)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2019, these securities represent 0.0% of net assets.
(i)	Principal amount of security is adjusted for inflation.
(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 generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate.
(l)	This loan will settle after March 31, 2019, at which time the interest rate will be determined.
(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)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(p)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(q)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2019, the market value of 144A securities was $1,296,721,481, which is 41.9% of net assets.

BHFTII-281

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Alta Wind Holdings LLC, 7.000%, 06/30/35		07/14/10	$	1,268,181	$	1,268,181	$	1,350,893
Bayview Commercial Asset Trust, Zero Coupon, 07/25/37		11/23/10		2,610,613		248,824		0
Countrywide Home Loan Reperforming Loan REMIC Trust, 3.717%, 03/25/35		01/08/15		5,073,573		738,839		571,631
Midwest Vanadium Pty, Ltd., 13.250%, 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		2,419,311		2,558,373		2,588,662
Windstream Services LLC / Windstream Finance Corp., 10.500%, 06/30/24		08/06/18		7,715,000		6,872,700		5,689,812
							$	10,201,091

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
ARS	232,614,000	CBNA		07/17/19		USD	5,220,242	$	(549,762	)
AUD	13,250,000	CBNA		04/17/19		USD	9,529,843		(118,797	)
BRL	10,559,893	BBP		04/17/19		USD	2,846,639		(152,327	)
BRL	17,020,000	JPMC		04/17/19		USD	4,539,998		(197,418	)
BRL	7,740,000	BBP		07/17/19		USD	1,961,927		(1,057	)
BRL	12,510,000	CBNA		07/17/19		USD	3,206,706		(37,391	)
CAD	7,200,000	BBP		04/01/19		USD	5,482,861		(95,051	)
CAD	26,881,593	BBP		04/17/19		USD	20,253,450		(129,464	)
CAD	700,000	CBNA		04/17/19		USD	534,235		(10,204	)
CAD	8,120,000	JPMC		04/17/19		USD	6,046,264		32,496
EUR	8,900,000	BBP		04/17/19		USD	10,140,945		(144,664	)
EUR	420,000	CBNA		04/17/19		USD	485,600		(13,865	)
EUR	500,000	CBNA		04/17/19		USD	574,880		(13,291	)
EUR	900,000	CBNA		04/17/19		USD	1,034,699		(23,839	)
EUR	1,600,000	CBNA		04/17/19		USD	1,849,050		(51,965	)
EUR	3,800,000	CBNA		04/17/19		USD	4,343,620		(75,546	)
EUR	7,360,000	CBNA		04/17/19		USD	8,357,118		(90,531	)
EUR	13,620,000	CBNA		04/17/19		USD	15,588,982		(291,303	)
EUR	15,680,000	CBNA		04/17/19		USD	17,855,720		(244,296	)
EUR	25,420,000	JPMC		04/17/19		USD	28,698,824		(147,650	)
GBP	18,761,869	CBNA		04/17/19		USD	24,789,832		(334,843	)
IDR	114,574,705,828	CBNA		04/17/19		USD	7,868,872		161,909
INR	491,838,000	BBP		04/16/19		USD	6,933,204		152,179
JPY	2,955,686,811	CBNA		04/17/19		USD	27,514,213		(810,968	)
MXN	17,000,000	BBP		04/17/19		USD	879,534		(5,820	)
MXN	29,000,000	BBP		04/17/19		USD	1,494,477		(4,024	)
MXN	30,000,000	BBP		04/17/19		USD	1,544,324		(2,476	)
MXN	232,504,580	BBP		04/17/19		USD	12,053,396		(103,834	)
MXN	25,000,000	CBNA		04/17/19		USD	1,297,966		(13,093	)
MXN	35,000,000	CBNA		04/17/19		USD	1,817,289		(18,466	)
MXN	40,000,000	CBNA		04/17/19		USD	2,070,844		(15,045	)
MXN	456,920,303	CBNA		04/17/19		USD	23,549,801		(66,403	)
NZD	500,000	JPMC		04/17/19		USD	345,499		(4,902	)
PHP	800,560,000	JPMC		04/17/19		USD	15,404,272		(183,941	)
PHP	1,906,060,000	JPMC		04/17/19		USD	36,402,979		(164,766	)
PHP	1,803,342,000	JPMC		07/17/19		USD	33,827,462		217,898
PLN	3,719	BBP		04/17/19		USD	995		(26	)
RUB	13,134,950	CBNA		04/17/19		USD	193,602		6,093
SEK	2,000,000	CBNA		04/17/19		USD	221,158		(5,802	)
SEK	3,500,000	CBNA		04/17/19		USD	394,048		(17,174	)
TWD	7,361,600	BBP		04/17/19		USD	240,214		(1,138	)
TWD	7,361,600	JPMC		07/17/19		USD	239,386		1,052

BHFTII-282

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
ARS	307,962,000	BBP		05/15/19		USD	7,483,888	$	762,995
ARS	303,380,000	CBNA		05/15/19		USD	7,403,123		782,227
AUD	1,104,312	BBP		04/17/19		USD	790,395		6,038
AUD	12,451,000	CBNA		04/17/19		USD	8,958,109		114,567
AUD	12,128,207	CBNA		04/17/19		USD	8,666,695		52,423
AUD	609,813	CBNA		04/17/19		USD	432,029		(1,101	)
BRL	7,740,000	BBP		04/17/19		USD	1,975,498		669
BRL	12,510,000	CBNA		04/17/19		USD	3,228,387		36,514
CAD	7,200,000	JPMC		04/01/19		USD	5,483,208		95,398
CAD	16,520,000	BBP		04/17/19		USD	12,457,817		90,684
CAD	8,606,000	BBP		04/17/19		USD	6,539,906		97,319
CAD	10,600,000	CBNA		04/17/19		USD	8,001,782		66,454
CAD	13,140,000	JPMC		04/17/19		USD	9,956,295		119,484
EUR	6,200,000	BBP		04/17/19		USD	7,196,073		232,372
EUR	3,200,000	BBP		04/17/19		USD	3,704,909		110,740
EUR	47,185,734	CBNA		04/17/19		USD	54,772,068		1,774,108
EUR	2,100,000	CBNA		04/17/19		USD	2,383,946		25,273
EUR	1,780,000	CBNA		04/17/19		USD	2,026,947		27,691
EUR	1,740,000	CBNA		04/17/19		USD	1,968,351		14,022
EUR	1,700,000	CBNA		04/17/19		USD	1,956,011		46,610
EUR	1,550,000	CBNA		04/17/19		USD	1,748,797		7,872
EUR	1,300,000	CBNA		04/17/19		USD	1,497,333		37,203
EUR	62,558,228	JPMC		04/17/19		USD	71,400,959		1,136,959
EUR	30,649,237	JPMC		04/17/19		USD	35,436,648		1,012,112
GBP	2,700,000	BBP		04/17/19		USD	3,514,285		(5,006	)
GBP	19,171,833	CBNA		04/17/19		USD	24,606,664		(382,689	)
JPY	1,639,980,000	CBNA		04/17/19		USD	14,794,307		(22,144	)
MXN	32,000,000	CBNA		04/17/19		USD	1,633,120		(11,519	)
NZD	7,900,000	JPMC		04/17/19		USD	5,349,730		(31,701	)
PHP	1,803,342,000	JPMC		04/17/19		USD	34,083,198		(202,130	)
PHP	903,278,000	JPMC		04/17/19		USD	17,104,298		(68,918	)
PHP	360,673,800	DBAG		05/15/19		USD	6,824,481		(14,781	)
PHP	360,673,800	DBAG		05/15/19		USD	6,836,122		(3,139	)
PHP	360,670,000	DBAG		05/15/19		USD	6,760,450		(78,740	)
PHP	360,669,400	DBAG		05/15/19		USD	6,852,924		13,746
PHP	360,660,000	DBAG		05/15/19		USD	6,818,414		(20,586	)
SEK	48,435,647	CBNA		04/17/19		USD	5,473,326		257,863
TRY	2,193,900	BBP		04/17/19		USD	378,004		(6,643	)
TWD	7,361,600	JPMC		04/17/19		USD	238,471		(605	)
ZAR	198,594	BBP		04/17/19		USD	14,175		436
Net Unrealized Appreciation								$	2,502,562

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		12/16/19		1,244		USD	303,442,700	$	1,046,436
90 Day Eurodollar Futures		06/15/20		2,993		USD	731,601,438		3,062,438
Australian 10 Year Treasury Bond Futures		06/17/19		198		AUD	27,434,195		239,157
U.S. Treasury Note 10 Year Futures		06/19/19		3,567		USD	443,088,281		3,430,011
U.S. Treasury Note 2 Year Futures		06/28/19		150		USD	31,964,063		116,032
U.S. Treasury Note Ultra 10 Year Futures		06/19/19		97		USD	12,879,781		246,912
U.S. Treasury Ultra Long Bond Futures		06/19/19		1,986		USD	333,648,000		11,849,608

BHFTII-283

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Short	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro-Bund Futures		06/06/19		(713	)		EUR	(118,600,420	)	$	(2,860,066	)
Euro-Buxl 30 Year Bond Futures		06/06/19		(28	)		EUR	(5,366,480	)		(292,612	)
U.S. Treasury Long Bond Futures		06/19/19		(451	)		USD	(67,494,969	)		(1,872,848	)
U.S. Treasury Note 5 Year Futures		06/28/19		(5,118	)		USD	(592,808,344	)		(4,591,708	)
United Kingdom Long Gilt Bond Futures		06/26/19		(113	)		GBP	(14,618,810	)		(288,670	)
Net Unrealized Appreciation										$	10,084,690

Purchased Options

Foreign Currency Options	Strike Price		Counterparty	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
USD Call/AUD Put	AUD	0.700	JPMC		05/13/19		30,260,000		USD	30,260,000	$	336,289	$	152,298	$	(183,991	)
USD Call/CNH Put	CNH	6.781	CBNA		04/29/19		79,790,000		USD	79,790,000		277,270		168,676		(108,594	)
USD Call/EUR Put	EUR	1.140	JPMC		06/20/19		30,200,000		USD	30,200,000		204,454		479,697		275,243
USD Put/AUD Call	AUD	0.738	CBNA		04/02/19		30,750,000		USD	30,750,000		245,477		30		(245,447	)
USD Put/BRL Call	BRL	3.822	CBNA		06/24/19		14,800,000		USD	14,800,000		274,728		207,645		(67,083	)
Totals											$	1,338,218	$	1,008,346	$	(329,872	)

Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Put - S&P 500 Index E-Mini Futures		USD	2,550.000		05/17/19		293		USD	14,650	$	253,328	$	91,563	$	(161,765	)
Put - S&P 500 Index E-Mini Futures		USD	2,600.000		05/17/19		162		USD	8,100		289,915		70,875		(219,040	)
Put - S&P 500 Index E-Mini Futures		USD	2,500.000		05/17/19		150		USD	7,500		154,065		33,750		(120,315	)
Put - S&P 500 Index E-Mini Futures		USD	2,600.000		06/21/19		664		USD	33,200		762,132		664,000		(98,132	)
Put - U.S. Treasury Note 10 Year Futures		USD	124.000		05/24/19		253		USD	253,000		134,844		158,125		23,281
Totals											$	1,594,284	$	1,018,313	$	(575,971	)

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	4.016		CBNA		06/24/19		(14,800,000	)		USD	(14,800,000	)	$	(274,728	)	$	(288,259	)	$	(13,531	)
USD Call/CAD Put		CAD	1.369		JPMC		06/10/19		(30,200,000	)		USD	(30,200,000	)		(143,450	)		(81,510	)		61,940
USD Call/EUR Put		EUR	1.102		JPMC		06/07/19		(15,300,000	)		USD	(15,300,000	)		(79,652	)		(42,932	)		36,720
USD Call/EUR Put		EUR	1.115		CBNA		06/24/19		(14,800,000	)		USD	(14,800,000	)		(70,226	)		(92,796	)		(22,570	)
Totals															$	(568,056	)	$	(505,497	)	$	62,559

Options on Exchange-Traded Futures Contracts	Strike Price		Expiration Date		Number of Contracts			Notional Amount			Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - U.S. Treasury Note 5 Year Futures	USD	115.250		04/26/19		(353	)	USD	(353,000	)	$	(84,882	)	$	(242,688	)	$	(157,806	)
Call - U.S. Treasury Note 5 Year Futures	USD	115.500		05/24/19		(253	)	USD	(253,000	)		(92,461	)		(164,055	)		(71,594	)
Call - U.S. Treasury Note 10 Year Futures	USD	125.000		05/24/19		(253	)	USD	(253,000	)		(133,969	)		(114,641	)		19,328
Put - S&P 500 Index E-Mini Futures	USD	2,450.000		05/17/19		(162	)	USD	(8,100	)		(135,335	)		(27,135	)		108,200
Put - S&P 500 Index E-Mini Futures	USD	2,350.000		05/17/19		(293	)	USD	(14,650	)		(98,272	)		(29,300	)		68,972
Put - S&P 500 Index E-Mini Futures	USD	2,400.000		06/21/19		(664	)	USD	(33,200	)		(296,968	)		(240,700	)		56,268
Totals											$	(841,887	)	$	(818,519	)	$	23,368

BHFTII-284

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (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 Premiums Paid/(Received)

Unrealized Appreciation(1)

3M LIBOR

Quarterly

FEDL01 + 0.254

%

Quarterly

06/19/24

USD

156,805,000

$

102,535

$

—

$

102,535

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	28-Day TIIE		Monthly	7.330%	Monthly		04/06/22	MXN	3,542,500,000	$	(2,634,767	)	$	(85,736	)	$	(2,549,031	)
Pay	28-Day TIIE		Monthly	7.351%	Monthly		04/05/21	MXN	5,174,130,000		(3,309,161	)		(40,304	)		(3,268,857	)
Receive	3M LIBOR		Annually	1.385%	Annually		10/30/21	GBP	158,777,000		(917,973	)		(49,681	)		(868,292	)
Receive	3M LIBOR		Semi-Annually	2.250%	Quarterly		12/31/25	USD	42,036,000		175,568			57,641			117,927
Receive	3M LIBOR		Semi-Annually	2.500%	Quarterly		01/31/26	USD	173,900,000		(1,916,884	)		(2,342,451	)		425,567
Receive	3M LIBOR		Semi-Annually	2.750%	Quarterly		08/15/44	USD	39,474,000		(1,004,138	)		(106,818	)		(897,320	)
Receive	3M LIBOR		Semi-Annually	2.875%	Quarterly		05/15/44	USD	40,552,000		(2,001,000	)		196,352			(2,197,352	)
Receive	6M EURIBOR		Annually	1.498%	Annually		08/23/47	EUR	4,537,500		(575,687	)		(5,232	)		(570,455	)
Receive	6M LIBOR		Semi-Annually	1.271%	Quarterly		10/26/21	GBP	32,768,000		(257,074	)		13,653			(270,727	)
Totals										$	(12,441,116	)	$	(2,362,576	)	$	(10,078,540	)

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

Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premiums Received			Unrealized Depreciation
CDX.NA.HY.32		(5.000	%)		Quarterly		06/20/24		3.258	%		USD	157,970,000	$	(10,499,476	)	$	(9,582,721	)	$	(916,755	)

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 March 31, 2019(b)			Notional Amount(c)			Market Value			Upfront Premium Received			Unrealized Appreciation
Australia Government International Bond 4.750%, due 04/27/21		(1.000	%)		Quarterly		06/20/23		DBAG		0.224	%		USD	32,280,000	$	(1,131,538	)	$	(1,289,612	)	$	158,074

Securities in amount of $1,549,830 have been received at the custodian bank as collateral for foreign currency contracts and 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.
(1)	There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

BHFTII-285

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Glossary of Abbreviations

Counterparties

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

Currencies

(ARS)—	Argentine Peso
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CNH)—	Chinese Renminbi
(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

(ARLLMONP) —	Argentina Blended Policy Rate
(CDX.NA.HY)—	Markit North America High Yield CDS Index
(COFI)—	11th District Cost of Funds Index
(EURIBOR)—	Euro InterBank Offered Rate
(FEDEFF PRV)—	Effective Federal Funds Rate
(FEDL01)—	Federal Funds Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(ICE)—	Intercontinental Exchange, Inc.
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(SOFR)—	Secured Overnight Financing 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

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1		Level 2		Level 3		Total
Total Corporate Bonds & Notes*	$	—	$	1,849,002,539	$	—	$	1,849,002,539
Total Mortgage-Backed Securities*		—		265,391,301		—		265,391,301
Total Floating Rate Loans*		—		243,412,090		—		243,412,090
Total Foreign Government*		—		275,138,404		—		275,138,404
Total U.S. Treasury & Government Agencies*		—		161,169,045		—		161,169,045
Total Asset-Backed Securities*		—		179,954,525		—		179,954,525
Total Convertible Bonds*		—		36,699,386		—		36,699,386
Total Convertible Preferred Stock*		6,416,518		—		—		6,416,518
Total Municipals		—		3,533,672		—		3,533,672
Total Preferred Stocks*		3,022,246		—		—		3,022,246
Total Common Stocks*		1,961,304		619,521		—		2,580,825
Total Escrow Shares*		—		—		8,381		8,381
Total Short-Term Investments*		—		54,672,098		—		54,672,098
Total Securities Lending Reinvestments*		—		349,748,738		—		349,748,738

BHFTII-286

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Purchased Options
Foreign Currency Options at Value	$	—		$	1,008,346		$	—	$	1,008,346
Options on Exchange-Traded Futures Contracts at Value		1,018,313			—			—		1,018,313
Total Purchased Options	$	1,018,313		$	1,008,346		$	—	$	2,026,659
Total Investments	$	12,418,381		$	3,420,349,665		$	8,381	$	3,432,776,427
Collateral for Securities Loaned (Liability)	$	—		$	(349,313,272	)	$	—	$	(349,313,272	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	7,493,406		$	—	$	7,493,406
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(4,990,844	)		—		(4,990,844	)
Total Forward Contracts	$	—		$	2,502,562		$	—	$	2,502,562
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	19,990,594		$	—		$	—	$	19,990,594
Futures Contracts (Unrealized Depreciation)		(9,905,904	)		—			—		(9,905,904	)
Total Futures Contracts	$	10,084,690		$	—		$	—	$	10,084,690
Written Options
Foreign Currency Options at Value	$	—		$	(505,497	)	$	—	$	(505,497	)
Options on Exchange-Traded Futures Contracts at Value		(818,519	)		—			—		(818,519	)
Total Written Options	$	(818,519	)	$	(505,497	)	$	—	$	(1,324,016	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	646,029		$	—	$	646,029
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(11,538,789	)		—		(11,538,789	)
Total Centrally Cleared Swap Contracts	$	—		$	(10,892,760	)	$	—	$	(10,892,760	)
OTC Swap Contracts
OTC Swap Contracts at Value (Liabilities)	$	—		$	(1,131,538	)	$	—	$	(1,131,538	)
Total OTC Swap Contracts	$	—		$	(1,131,538	)	$	—	$	(1,131,538	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2019 is not presented.

Transfers from Level 3 to Level 2 in the amount of $18,677,327 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-287

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

U.S. Treasury & Government Agencies—85.7% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—43.0%
Fannie Mae 15 Yr. Pool
2.500%, TBA (a)		3,600,000	$	3,578,929
3.000%, TBA (a)		17,100,000		17,255,887
3.500%, TBA (a)		26,500,000		27,108,750
4.500%, 03/01/20		11,613		11,815
Fannie Mae 20 Yr. Pool
3.000%, 12/01/37		1,538,545		1,548,390
4.500%, 11/01/31		580,083		609,930
4.500%, 12/01/31		821,758		864,154
Fannie Mae 30 Yr. Pool
3.000%, 09/01/42		7,569,002		7,575,294
3.000%, 11/01/46		22,801,163		22,714,273
3.000%, 01/01/48		258,663		257,638
3.000%, 11/01/48		4,129,823		4,113,373
3.000%, TBA (a)		100,000		99,473
3.500%, 10/01/47		17,969,729		18,254,059
3.500%, 12/01/47		1,767,220		1,801,016
3.500%, 01/01/48		340,072		345,419
3.500%, 03/01/48		14,544,074		14,784,342
3.500%, 06/01/48		8,270,616		8,400,613
3.500%, 07/01/48		6,159,343		6,256,944
3.500%, 02/01/49		400,000		407,546
3.500%, TBA (a)		45,648,000		46,281,009
4.000%, 02/01/40		590,717		614,977
4.000%, 06/01/42		5,429,721		5,700,734
4.000%, 07/01/42		2,466,995		2,559,011
4.000%, 05/01/43		13,510,665		14,160,065
4.000%, 10/01/43		7,267,776		7,616,971
4.000%, 04/01/47		7,764,953		8,063,972
4.000%, 05/01/47		3,442,965		3,571,187
4.000%, 08/01/47		37,636,464		38,899,777
4.000%, 05/01/48		13,708,084		14,277,022
4.500%, 04/01/41		7,602,235		8,037,805
4.500%, 10/01/41		4,568,076		4,827,174
4.500%, 07/01/44		200,125		212,505
4.500%, 10/01/44		1,211,255		1,284,689
4.500%, 01/01/45		112,582		119,240
4.500%, 01/01/47		739,928		775,123
4.500%, 06/01/47		247,538		259,095
4.500%, 07/01/47		1,221,670		1,284,049
4.500%, 08/01/47		1,660,739		1,752,157
5.000%, 07/01/33		183,226		197,124
5.000%, 09/01/33		223,014		239,946
5.000%, 10/01/35		632,728		680,862
5.000%, 03/01/36		1,008,091		1,084,969
5.000%, 01/01/39		7,456		8,049
5.000%, 12/01/39		14,977		16,191
5.000%, 05/01/40		48,839		52,361
5.000%, 07/01/40		31,493		34,044
5.000%, 11/01/40		765,582		827,610
5.000%, 01/01/41		59,825		64,588
5.000%, 02/01/41		46,073		48,705
5.000%, 04/01/41		81,526		88,133
5.000%, 05/01/41		1,746,273		1,885,846
5.000%, 06/01/41		154,184		166,679
5.000%, 07/01/41		1,519,482		1,633,284
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae 30 Yr. Pool
5.000%, 10/01/48		1,697,547		1,795,855
5.000%, 11/01/48		4,379,038		4,631,967
5.000%, TBA (a)		500,000		528,662
6.000%, 04/01/33		62,613		69,092
6.000%, 02/01/34		12,013		13,258
6.000%, 11/01/35		121,747		134,388
6.000%, 08/01/37		263,976		291,359
6.500%, 03/01/26		557		616
6.500%, 04/01/29		55,321		61,100
7.000%, 11/01/28		1,646		1,713
7.000%, 02/01/29		547		547
7.000%, 01/01/30		1,948		1,978
7.000%, 10/01/37		6,628		7,243
7.000%, 11/01/37		19,976		21,769
7.000%, 12/01/37		19,829		22,990
7.000%, 02/01/38		10,216		10,940
7.000%, 11/01/38		88,063		100,696
7.000%, 02/01/39		824,956		948,861
7.500%, 04/01/32		12,210		12,363
8.000%, 05/01/28		1,431		1,566
8.000%, 07/01/32		811		865
Fannie Mae Connecticut Avenue Securities (CMO)
3.166%, 1M LIBOR + 0.680%, 10/25/30 (b)		4,909,971		4,907,876
3.936%, 1M LIBOR + 1.450%, 01/25/29 (b)		138,275		138,791
Fannie Mae Interest Strip (CMO)
3.500%, 11/25/41 (c)		2,134,266		394,135
4.000%, 04/25/42 (c)		2,871,561		532,411
4.500%, 11/25/39 (c)		1,497,370		302,386
Fannie Mae Pool
3.500%, 08/01/42		8,985,044		9,158,971
3.500%, 09/01/42		618,327		630,321
3.500%, 10/01/42		4,388,022		4,473,259
3.500%, 06/01/47		680,782		693,907
3.530%, 02/01/29		2,160,000		2,258,990
3.740%, 11/01/28		1,490,000		1,559,470
3.770%, 01/01/29		1,020,000		1,086,852
4.000%, 10/01/42		2,622,790		2,713,788
4.000%, 11/01/42		1,741,310		1,801,958
4.000%, 07/01/43		56,146		58,098
4.000%, 08/01/43		1,266,225		1,310,394
6.500%, 12/01/27		3,556		3,556
6.500%, 05/01/32		12,102		13,545
Fannie Mae REMIC Trust Whole Loan (CMO) 4.547%, 01/25/43 (b)		246,794		257,859
Fannie Mae REMICS (CMO)
Zero Coupon, 03/25/42 (d)		392,721		346,365
3.665%, -1x 1M LIBOR + 6.150%, 03/25/42 (b) (c)		6,388,266		803,566
3.665%, -1x 1M LIBOR + 6.150%, 12/25/42 (b) (c)		725,393		130,609
4.045%, -1x 1M LIBOR + 6.530%, 01/25/41 (b) (c)		1,020,893		177,764
4.065%, -1x 1M LIBOR + 6.550%, 10/25/41 (b) (c)		3,947,932		627,666
4.165%, -1x 1M LIBOR + 6.650%, 02/25/41 (b) (c)		486,236		50,538
4.165%, -1x 1M LIBOR + 6.650%, 03/25/42 (b) (c)		1,544,704		208,333
5.500%, 07/25/41		6,910,594		7,661,192
5.500%, 04/25/42		1,633,324		1,796,747
6.000%, 05/25/42		991,401		1,072,868

BHFTII-288

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Fannie Mae REMICS (CMO)
6.500%, 06/25/39		126,889	$	135,916
6.500%, 07/25/42		1,820,028		2,084,167
9.750%, 08/25/19		51		51
Fannie Mae-ACES (CMO)
0.710%, 01/25/36 (b) (c)		104,568,906		5,469,017
2.037%, 09/25/26		2,301,009		2,257,064
Freddie Mac 15 Yr. Gold Pool
2.500%, 10/01/31		2,939,158		2,923,967
2.500%, 04/01/33		11,727,255		11,666,640
2.500%, 06/01/33		4,504,488		4,481,206
2.500%, 09/01/33		325,896		324,212
Freddie Mac 20 Yr. Gold Pool
3.000%, 02/01/38		1,855,168		1,858,130
3.000%, 04/01/38		1,587,787		1,591,589
Freddie Mac 30 Yr. Gold Pool
3.000%, 04/01/47		1,335,149		1,331,096
3.000%, 01/01/48		6,999,998		6,974,924
3.000%, 04/01/48		15,900,565		15,841,663
3.000%, 03/01/49		1,884,753		1,877,631
3.000%, 04/01/49		3,914,675		3,899,883
3.500%, 06/01/46		828,600		845,801
3.500%, 02/01/48		2,955,670		3,003,865
3.500%, 06/01/48		5,075,987		5,176,042
3.500%, 08/01/48		7,915,950		8,045,040
3.500%, 09/01/48		662,564		673,369
3.500%, 10/01/48		16,571,846		16,842,100
3.500%, 12/01/48		9,999,994		10,159,981
3.500%, 03/01/49		6,299,999		6,396,767
4.000%, 07/01/43		3,855,725		4,044,425
4.000%, 08/01/43		3,427,835		3,595,599
4.000%, 07/01/47		7,251,270		7,491,770
4.000%, 12/01/47		803,976		830,107
4.000%, 04/01/48		469,713		484,824
4.000%, 05/01/48		2,461,758		2,540,956
4.000%, 09/01/48		10,453,595		10,785,601
4.500%, 06/01/38		1,301,550		1,377,735
4.500%, 02/01/47		654,196		684,581
4.500%, 03/01/47		60,807		63,751
4.500%, 04/01/47		1,122,483		1,176,831
4.500%, 05/01/47		554,235		579,568
4.500%, 06/01/47		2,140,388		2,244,021
4.500%, 07/01/47		49,032		51,282
4.500%, 06/01/48		16,537,742		17,328,622
5.000%, 08/01/33		17,559		18,952
5.000%, 01/01/36		28,425		30,615
5.000%, 01/01/40		25,693		27,756
5.000%, 04/01/41		24,719		26,704
5.000%, 06/01/41		3,785,060		4,079,716
5.000%, 04/01/44		30,631		32,996
5.000%, 07/01/48		94,057		99,550
5.000%, 08/01/48		282,928		299,666
5.000%, 09/01/48		560,668		593,920
5.000%, 10/01/48		1,039,885		1,101,434
5.000%, 11/01/48		774,396		819,797
5.000%, TBA (a)		9,300,000		9,847,646
Agency Sponsored Mortgage-Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool
6.000%, 10/01/36		667,070		735,567
6.500%, 09/01/39		237,267		272,394
8.000%, 09/01/30		3,121		3,586
Freddie Mac 30 Yr. Non-Gold Pool 8.000%, 07/01/20		1		1
Freddie Mac Gold Pool
3.500%, 10/01/42		951,831		969,722
3.500%, 02/01/44		430,268		438,351
4.000%, 04/01/43		1,359,399		1,408,052
4.000%, 08/01/43		809,556		838,359
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
0.292%, 01/25/27 (b) (c)		74,019,956		1,512,287
0.362%, 12/25/28 (c)		63,179,392		2,031,754
0.482%, 01/25/34 (b) (c)		51,906,838		2,757,722
0.653%, 01/25/29 (b) (c)		85,920,000		3,821,472
3.030%, 1M LIBOR + 0.540%, 12/25/28 (b)		700,000		699,999
3.291%, 03/25/27		4,670,000		4,784,113
Freddie Mac REMICS (CMO)
4.500%, 04/15/32		267,024		283,555
6.000%, 05/15/36		443,254		498,676
8.500%, 06/15/21		2,453		2,499
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO)
3.686%, 1M LIBOR + 1.200%, 07/25/29 (b)		4,546,341		4,565,643
4.686%, 1M LIBOR + 2.200%, 09/25/24 (b)		5,095,862		5,194,015
Ginnie Mae I 30 Yr. Pool
3.000%, 09/15/42		578,914		583,651
3.000%, 11/15/42		309,436		311,968
3.500%, 06/15/48		5,775,300		5,926,697
5.500%, 06/15/36		387,512		426,191
6.000%, 03/15/33		682,786		763,258
6.500%, 06/15/31		2,682		2,944
6.500%, 08/15/34		148,556		163,090
7.500%, 09/15/29		1,500		1,646
8.500%, 06/15/25		15,499		17,081
Ginnie Mae II 30 Yr. Pool
3.000%, 01/20/47		1,840,639		1,852,590
3.000%, 03/20/47		2,829,282		2,849,373
3.000%, 09/20/47		7,648,025		7,688,489
3.000%, 11/20/47		18,467,074		18,561,128
3.000%, 12/20/47		29,587,183		29,737,872
3.000%, TBA (a)		3,300,000		3,315,855
3.500%, 06/20/44		2,399,060		2,458,795
3.500%, 03/20/45		205,744		210,651
3.500%, TBA (a)		23,600,000		24,119,937
4.000%, 09/20/45		1,255,636		1,303,856
4.000%, 11/20/45		8,205,794		8,515,186
4.000%, 12/20/47		953,083		984,783
4.000%, TBA (a)		12,200,000		12,600,789
4.500%, 01/20/40		578,597		609,226
4.500%, 05/20/40		758,115		798,197
4.500%, 09/20/40		15,987		16,829
4.500%, 01/20/41		126,090		132,769
4.500%, 07/20/41		840,817		885,212
4.500%, 06/20/48		1,189,115		1,235,348
4.500%, 09/20/48		490,891		505,692

BHFTII-289

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage-Backed—(Continued)
Ginnie Mae II 30 Yr. Pool
4.500%, 12/20/48		2,383,966	$	2,486,936
4.500%, 01/20/49		15,142,611		15,743,505
4.500%, TBA (a)		7,700,000		7,996,082
5.000%, 07/20/40		577,550		619,850
5.000%, 11/20/48		1,639,969		1,718,237
5.000%, 12/20/48		10,528,530		11,043,347
5.000%, 01/20/49		6,870,094		7,194,964
6.000%, 11/20/34		1,254		1,417
6.000%, 06/20/35		1,997		2,257
6.000%, 07/20/36		110,521		122,591
6.000%, 09/20/36		5,530		6,134
6.000%, 07/20/38		285,737		316,597
6.000%, 09/20/38		739,177		817,223
6.000%, 06/20/39		3,658		4,056
6.000%, 05/20/40		66,175		73,381
6.000%, 06/20/40		185,527		203,525
6.000%, 08/20/40		99,069		106,395
6.000%, 09/20/40		228,748		253,644
6.000%, 10/20/40		153,934		173,093
6.000%, 11/20/40		212,586		239,864
6.000%, 01/20/41		148,987		160,430
6.000%, 03/20/41		762,340		847,942
6.000%, 07/20/41		159,403		179,325
6.000%, 12/20/41		108,955		120,712
6.500%, 10/20/37		247,486		285,884
Government National Mortgage Association (CMO)
0.243%, 02/16/48 (b) (c)		4,496,435		90,277
0.277%, 02/16/53 (b) (c)		12,673,759		246,749
0.293%, 09/16/46 (b) (c)		23,432,856		195,041
0.410%, 03/16/49 (b) (c)		7,618,376		96,488
0.422%, 05/16/54 (b) (c)		16,577,121		354,800
0.502%, 04/16/54 (b) (c)		135,795,501		3,083,101
0.520%, 10/16/54 (b) (c)		31,396,985		792,579
0.661%, 03/16/59 (b) (c)		79,329,042		4,716,397
0.687%, 03/16/60 (b) (c)		7,204,227		443,419
0.783%, 12/16/59 (b) (c)		67,915,640		4,705,535
0.795%, 10/16/58 (b) (c)		23,182,054		1,673,763
0.838%, 09/16/55 (b) (c)		18,372,680		980,385
0.954%, 12/16/56 (b) (c)		43,429,814		3,259,043
1.066%, 09/16/44 (b) (c)		14,573,011		700,175
1.238%, 02/16/46 (b) (c)		18,415,336		883,192
2.889%, 1M LIBOR + 0.380%, 12/20/60 (b)		15,181,862		15,134,947
2.909%, 1M LIBOR + 0.400%, 12/20/60 (b)		4,455,564		4,445,648
2.939%, 1M LIBOR + 0.430%, 10/20/64 (b)		6,203,341		6,190,148
2.989%, 1M LIBOR + 0.480%, 03/20/61 (b)		4,076,355		4,075,221
3.009%, 1M LIBOR + 0.500%, 12/20/60 (b)		35,645,164		35,651,499
3.150%, 06/16/60 (b)		4,881,445		4,850,400
3.250%, 12M LIBOR + 0.250%, 10/20/68 (b)		2,968,029		2,954,922
3.618%, -1x 1M LIBOR + 6.100%, 08/16/42 (b) (c)		927,792		150,296
4.013%, -1x 1M LIBOR + 6.500%, 03/20/39 (b)		132,951		3,467
4.162%, -1x 1M LIBOR + 6.650%, 01/20/40 (b) (c)		574,820		47,570
				845,100,710
Federal Agencies—36.1%
Federal Agricultural Mortgage Corp. 2.600%, 03/29/21		20,000,000		20,094,428
Federal Farm Credit Bank
1.750%, 10/26/20		15,000,000		14,867,679
1.900%, 11/27/20		20,000,000		19,860,603
1.950%, 01/10/20		10,000,000		9,967,293
2.240%, 01/06/25		12,305,000		12,020,526
2.240%, 07/06/27		10,000,000		9,526,105
2.300%, 06/11/19		10,000,000		9,998,936
2.550%, 06/11/20		10,000,000		10,023,152
2.750%, 04/25/22		20,000,000		20,263,944
Federal Home Loan Bank
1.375%, 09/28/20		10,000,000		9,851,637
1.875%, 11/29/21		40,000,000		39,586,987
2.125%, 06/09/23		17,700,000		17,556,496
2.375%, 12/13/19		20,000,000		19,994,440
2.375%, 03/30/20		8,000,000		7,995,008
2.500%, 02/13/24		10,000,000		10,089,972
2.625%, 05/28/20		20,000,000		20,044,936
3.250%, 11/16/28		20,000,000		21,030,213
5.250%, 12/11/20		12,000,000		12,568,995
Federal Home Loan Mortgage Corp.
Zero Coupon, 11/29/19		10,200,000		10,026,824
1.500%, 01/17/20		10,000,000		9,924,759
2.750%, 06/19/23		20,000,000		20,356,934
Federal National Mortgage Association
Zero Coupon, 10/09/19		50,000,000		49,358,239
1.875%, 09/24/26		20,000,000		19,123,629
2.125%, 04/24/26		10,000,000		9,770,310
2.625%, 09/06/24 (e)		22,000,000		22,325,739
Financing Corp. Fico
Zero Coupon, 04/05/19		1,245,000		1,244,599
Zero Coupon, 06/06/19		26,414,000		26,289,300
Zero Coupon, 09/26/19		14,535,000		14,348,492
National Archives Facility Trust 8.500%, 09/01/19		448,584		459,270
New Valley Generation II 5.572%, 05/01/20 (g)		3,097,560		3,194,818
Overseas Private Investment Corp.
Zero Coupon, 11/13/20		3,306,787		3,629,983
Zero Coupon, 07/01/22		6,750,000		6,843,444
Zero Coupon, 07/17/25		7,763,000		7,875,997
2.310%, 11/15/30		7,511,618		7,306,736
3.330%, 05/15/33		6,512,177		6,678,776
3.490%, 12/20/29		10,705,157		11,115,861
3.540%, 06/15/30		13,235,444		13,838,866
Residual Funding Corp. Principal Strip
Zero Coupon, 10/15/19		10,642,000		10,498,293
Zero Coupon, 07/15/20		14,864,000		14,392,613
Zero Coupon, 10/15/20		38,159,000		36,718,605
Zero Coupon, 01/15/21		20,000,000		19,121,753
Zero Coupon, 01/15/30		25,000,000		18,339,446
Zero Coupon, 04/15/30		20,000,000		14,566,605

BHFTII-290

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

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

Security Description	Principal Amount*		Value
Federal Agencies—(Continued)
Resolution Funding Corp. Interest Strip Zero Coupon, 10/15/29		14,996,000	$	11,099,294
Tennessee Valley Authority
2.250%, 03/15/20		20,000,000		19,955,700
3.875%, 02/15/21		35,000,000		35,949,355
				709,695,590
U.S. Treasury—6.6%
U.S. Treasury Bond 3.750%, 11/15/43		5,000,000		5,874,023
U.S. Treasury Inflation Indexed Bonds
0.625%, 02/15/43 (f)		3,722,184		3,505,946
0.750%, 02/15/45 (f)		8,657,766		8,331,787
1.000%, 02/15/49 (f)		7,831,879		8,047,941
1.375%, 02/15/44 (f)		30,984,339		34,279,706
U.S. Treasury Notes
1.250%, 01/31/20		7,000,000		6,932,187
1.375%, 05/31/21		27,600,000		27,083,578
1.500%, 05/31/20		10,000,000		9,898,047
2.000%, 02/15/25		17,000,000		16,729,727
2.500%, 01/31/21		10,000,000		10,036,719
				130,719,661
Total U.S. Treasury & Government Agencies (Cost $1,682,986,692)				1,685,515,961
Foreign Government—9.0%
Sovereign—9.0%
Colombia Government International Bonds
5.000%, 06/15/45 (e)		37,000,000		38,820,400
5.625%, 02/26/44		4,840,000		5,455,648
Indonesia Government International Bonds
3.750%, 04/25/22 (144A)		410,000		415,157
3.750%, 04/25/22		1,900,000		1,923,898
4.875%, 05/05/21		2,957,000		3,064,088
5.875%, 03/13/20		310,000		318,851
5.875%, 01/15/24 (144A)		1,060,000		1,169,132
Israel Government AID Bonds
5.500%, 12/04/23		24,290,000		27,613,293
5.500%, 04/26/24		21,550,000		24,720,193
Panama Government International Bond 4.500%, 05/15/47		3,200,000		3,375,040
Peruvian Government International Bonds
5.625%, 11/18/50 (e)		1,900,000		2,437,700
6.550%, 03/14/37 (e)		2,770,000		3,729,113
Poland Government International Bond 4.000%, 01/22/24		7,870,000		8,227,172
Qatar Government International Bond 5.103%, 04/23/48 (144A)		7,300,000		7,993,500
Ukraine Government AID Bonds
1.471%, 09/29/21		20,000,000		19,590,200
1.844%, 05/16/19		25,000,000		24,988,250
Sovereign—(Continued)
Uruguay Government International Bond 5.100%, 06/18/50		3,200,000		3,400,000
Total Foreign Government (Cost $175,049,644)				177,241,635
Corporate Bonds & Notes—8.5%
Chemicals—0.1%
Equate Petrochemical B.V. 4.250%, 11/03/26 (144A)		1,540,000		1,553,657
Diversified Financial Services—3.3%
Postal Square L.P. 6.500%, 06/15/22		4,380,480		4,561,844
Private Export Funding Corp.
2.250%, 03/15/20		11,950,000		11,916,127
2.300%, 09/15/20		28,000,000		27,970,740
2.650%, 02/16/21 (144A)		20,000,000		20,082,991
				64,531,702
Electric—0.4%
Enel Chile S.A. 4.875%, 06/12/28		4,000,000		4,218,400
Perusahaan Listrik Negara PT 5.450%, 05/21/28 (144A)		4,000,000		4,269,917
				8,488,317
Iron/Steel—1.0%
Vale Overseas, Ltd. 6.250%, 08/10/26 (e)		17,875,000		19,430,125
Oil & Gas—0.4%
Ecopetrol S.A. 5.375%, 06/26/26 (e)		4,260,000		4,590,150
Petroleos Mexicanos 6.375%, 01/23/45		3,610,000		3,188,713
				7,778,863
Sovereign—3.3%
National Credit Union Administration Guaranteed Notes Trust
3.000%, 06/12/19		19,650,000		19,663,165
3.450%, 06/12/21		45,000,000		45,747,000
				65,410,165
Total Corporate Bonds & Notes (Cost $161,049,063)				167,192,829
Mortgage-Backed Securities—2.5%
Collateralized Mortgage Obligations—2.5%
Banc of America Funding Corp. 2.640%, 1M LIBOR + 0.150%, 02/27/37 (144A) (b)		6,583,035		6,387,766

BHFTII-291

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Banc of America Funding Trust 2.555%, COFI + 1.430%, 06/20/35 (b)		193,669	$	140,951
Banc of America Mortgage Trust 4.241%, 07/25/35 (b)		41,013		39,748
BCAP LLC Trust 3.174%, 1M LIBOR + 0.150%, 11/27/36 (144A) (b)		9,845,613		9,197,242
Citigroup Mortgage Loan Trust 4.820%, 1Y H15 + 2.400%, 10/25/35 (b)		72,360		73,423
Countrywide Alternative Loan Trust
2.688%, 1M LIBOR + 0.200%, 07/20/46 (b)		1,829,010		1,408,286
3.066%, 1M LIBOR + 0.580%, 05/25/34 (b)		553,983		553,041
Countrywide Home Loan Reperforming Loan REMIC Trust 2.906%, 1M LIBOR + 0.420%, 07/25/36 (144A) (b)		450,033		430,500
GMAC Mortgage Corp. Loan Trust 4.679%, 11/19/35 (b)		233,650		226,561
GS Mortgage-Backed Securities Trust 3.750%, 10/25/57 (144A)		4,848,650		4,923,664
JPMorgan Mortgage Trust
3.500%, 10/25/48 (144A) (b)		3,889,731		3,871,344
4.318%, 06/25/34 (b)		97,742		98,305
MASTR Adjustable Rate Mortgages Trust
2.686%, 1M LIBOR + 0.200%, 05/25/47 (b)		4,008,228		4,225,511
3.549%, 02/25/34 (b)		143,826		137,192
MASTR Reperforming Loan Trust
2.836%, 1M LIBOR + 0.350%, 05/25/35 (144A) (b)		244,709		190,539
4.195%, 05/25/35 (144A) (b)		3,239,178		2,512,137
7.000%, 08/25/34 (144A)		299,950		302,807
Morgan Stanley Mortgage Loan Trust
2.626%, 1M LIBOR + 0.140%, 06/25/36 (b)		535,688		206,163
3.674%, 07/25/35 (b)		133,273		116,987
New Residential Mortgage Loan Trust
3.250%, 09/25/56 (144A) (b)		3,218,259		3,209,130
4.000%, 02/25/57 (144A) (b)		2,753,332		2,802,837
4.000%, 05/25/57 (144A) (b)		4,850,335		4,956,636
NovaStar Mortgage Funding Trust 2.866%, 1M LIBOR + 0.380%, 09/25/46 (b)		1,390,993		1,274,910
Provident Funding Mortgage Loan Trust
4.155%, 05/25/35 (b)		131,671		131,933
4.180%, 10/25/35 (b)		35,447		35,110
SACO I Trust 8.944%, 06/25/21 (144A) (b)		369,524		355,035
Structured Asset Mortgage Investments II Trust 2.666%, 1M LIBOR + 0.180%, 07/25/46 (b)		164,731		152,227
Structured Asset Securities Corp.
2.836%, 1M LIBOR + 0.350%, 04/25/35 (144A) (b)		1,951,670		1,817,002
4.222%, 06/25/35 (144A) (b)		111,087		103,601
Total Mortgage-Backed Securities (Cost $49,507,344)				49,880,588
Asset-Backed Securities—1.2%
Asset-Backed - Automobile—0.2%
Hertz Vehicle Financing II LP 3.290%, 02/25/24 (144A)		4,880,000		4,859,816
Asset-Backed - Home Equity—0.1%
Home Equity Mortgage Loan Asset-Backed Trust 2.746%, 1M LIBOR + 0.260%, 06/25/36 (b)		3,685,034		420,158
Morgan Stanley Mortgage Loan Trust
2.576%, 1M LIBOR + 0.090%, 12/25/36 (b)		192,001		114,762
2.786%, 1M LIBOR + 0.300%, 03/25/36 (b)		369,081		370,742
Structured Asset Securities Corp. Mortgage Loan Trust 2.706%, 1M LIBOR + 0.220%, 02/25/36 (144A) (b)		4,659,839		222,577
				1,128,239
Asset-Backed - Other—0.5%
Countrywide Revolving Home Equity Loan Trust 2.624%, 1M LIBOR + 0.140%, 07/15/36 (b)		474,024		453,328
Towd Point Mortgage Trust
2.250%, 04/25/56 (144A) (b)		5,785,937		5,692,811
2.750%, 06/25/57 (144A) (b)		4,060,407		3,994,864
				10,141,003
Asset-Backed - Student Loan—0.4%
National Credit Union Administration Guaranteed Notes Trust 2.842%, 1M LIBOR + 0.350%, 12/07/20 (b)		3,098,867		3,099,190
Nelnet Student Loan Trust 4.301%, 3M LIBOR + 1.650%, 11/25/24 (b)		3,887,929		3,909,058
				7,008,248
Total Asset-Backed Securities (Cost $28,200,437)				23,137,306
Short-Term Investment—0.3%
Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/19 at 1.200%, due on 04/01/19 with a maturity value of $5,184,659; collateralized by U.S. Treasury Note at 2.125%, maturing 12/31/21, with a market value of $5,291,716.		5,184,140		5,184,140
Total Short-Term Investments (Cost $5,184,140)				5,184,140
Securities Lending Reinvestments (h)—1.2%
Repurchase Agreements—1.1%
Citigroup Global Markets, Ltd.
Repurchase Agreement dated 03/29/19 at 2.440%, due on 04/01/19 with a maturity value of $500,102; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 3.375%, maturity dates ranging from 07/31/23 - 05/15/44, and an aggregate market value of $510,000.		500,000		500,000
Repurchase Agreement dated 03/29/19 at 2.800%, due on 04/01/19 with a maturity value of $500,117; collateralized by U.S. Treasury Obligations with rates ranging from 1.375% - 2.000%, maturity dates ranging from 09/15/20 - 02/15/25, and an aggregate market value of $510,000.		500,000		500,000

BHFTII-292

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/19 at 2.500%, due on 04/01/19 with a maturity value of $500,104; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.625% - 3.000%, maturity dates ranging from 06/30/20 - 02/15/47, and an aggregate market value of $510,000.		500,000	$	500,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/19 at 2.750%, due on 04/01/19 with a maturity value of $2,000,458; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Goldman Sachs & Co. Repurchase Agreement dated 03/29/19 at 2.520%, due on 04/01/19 with a maturity value of $5,111,308; collateralized by U.S. Treasury Obligations with rates ranging from 2.500% - 6.500%, maturity dates ranging from 11/15/19 - 06/15/58, and an aggregate market value of $5,212,440.		5,110,236		5,110,236
ING Financial Markets LLC Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $5,001,063; collateralized by U.S. Government Agency Obligations with rates ranging from 1.200% - 6.250%, maturity dates ranging from 09/12/19 - 07/15/32, and an aggregate market value of $5,100,031.		5,000,000		5,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 12/11/18 at 2.570%, due on 04/01/19 with a maturity value of $705,547; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 7.125%, maturity dates ranging from 07/31/19 - 08/15/48, and various Common Stock with an aggregate market value of $749,949.		700,000		700,000
Nomura Securities International, Inc. Repurchase Agreement dated 03/29/19 at 2.550%, due on 04/01/19 with a maturity value of $2,000,425; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 3.875%, maturity dates ranging from 04/11/19 - 11/15/48, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale
Repurchase Agreement dated 06/15/18 at 2.510%, due on 04/01/19 with a maturity value of $1,428,307; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $1,557,082.		1,400,000		1,400,000
Repurchase Agreement dated 03/16/18 at 2.510%, due on 04/01/19 with a maturity value of $3,041,820; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $3,295,573.		2,963,107		2,963,107
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/29/19 at 2.540%, due on 04/05/19 with a maturity value of $55,027; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 3.125%, maturity dates ranging from 04/15/19 - 02/15/28, and various Common Stock with an aggregate market value of $61,171.		55,000		55,000
				20,728,343
Time Deposits—0.1%
Australia & New Zealand Banking Group, Ltd.
2.450%, 04/01/19		500,000		500,000
DZ Bank AG New York 2.430%, 04/01/19		500,000		500,000
Nordea Bank New York 2.350%, 04/01/19		500,000		500,000
Skandi New York 2.380%, 04/01/19		500,000		500,000
Svenska, New York 2.360%, 04/01/19		500,000		500,000
				2,500,000
Total Securities Lending Reinvestments (Cost $23,228,342)				23,228,343
Total Investments—108.4% (Cost $2,125,205,662)				2,131,380,802
Other assets and liabilities (net)—(8.4)%				(165,868,596	)
Net Assets—100.0%			$	1,965,512,206

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2019. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Interest only security.
(d)	Principal only security.
(e)	All or a portion of the security was held on loan. As of March 31, 2019, the market value of securities loaned was $22,624,187 and the collateral received consisted of cash in the amount of $23,228,343. 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)	Illiquid security. As of March 31, 2019, these securities represent 0.2% of net assets.
(h)	Represents investment of cash collateral received from securities on loan as of March 31, 2019.
(144A)—	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2019, the market value of 144A securities was $91,314,662, which is 4.6% of net assets.

BHFTII-293

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
U.S. Treasury Ultra Long Bond Futures		06/19/19		101			USD	16,968,000		$	634,756
Futures Contracts—Short
U.S. Treasury Long Bond Futures		06/19/19		(451	)		USD	(67,494,969	)		(1,885,287	)
U.S. Treasury Note 5 Year Futures		06/28/19		(954	)		USD	(110,500,031	)		(120,569	)
Net Unrealized Depreciation										$	(1,371,100	)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(COFI)—	11th District Cost of Funds Index
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

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

BHFTII-294

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2019 (Unaudited)

Fair Value Hierarchy

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

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

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

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

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2019:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	1,685,515,961		$	—	$	1,685,515,961
Total Foreign Government*		—			177,241,635			—		177,241,635
Total Corporate Bonds & Notes*		—			167,192,829			—		167,192,829
Total Mortgage-Backed Securities*		—			49,880,588			—		49,880,588
Total Asset-Backed Securities*		—			23,137,306			—		23,137,306
Total Short-Term Investment*		—			5,184,140			—		5,184,140
Total Securities Lending Reinvestments*		—			23,228,343			—		23,228,343
Total Investments	$	—		$	2,131,380,802		$	—	$	2,131,380,802
Collateral for Securities Loaned (Liability)	$	—		$	(23,228,343	)	$	—	$	(23,228,343	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	634,756		$	—		$	—	$	634,756
Futures Contracts (Unrealized Depreciation)		(2,005,856	)		—			—		(2,005,856	)
Total Futures Contracts	$	(1,371,100	)	$	—		$	—	$	(1,371,100	)

* See Schedule of Investments for additional detailed categorizations.

BHFTII-295

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 the 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 tranches, 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 Adviser may use other market information obtained from quotation reporting systems, established market makers, or pricing services in valuing the securities. Valuation adjustments may be applied to certain foreign equity securities that are traded solely on foreign exchanges that close before the time as of which the Portfolio determines its net asset value (“NAV’) to account for the market movement between the close of the foreign exchanges and the time as of which the Portfolio determines its NAV. The Portfolio may use a systematic fair valuation model provided by a pricing service to value securities principally traded in these foreign markets in order to adjust for possible market movements or other changes that may occur between the close of the foreign exchanges and the time as of which the Portfolio determines its NAV. Foreign equity securities valued using these valuation adjustments are generally categorized as Level 2 within the fair value hierarchy. Equity securities that are actively traded, and have no valuation adjustments applied, are categorized as Level 1 within the fair value hierarchy. Other equity securities traded on inactive markets, or valued in reference to similar instruments traded on active markets, are generally categorized as Level 2 within the fair value hierarchy.

Investments in registered open-end management investment companies are valued at reported NAV per share on the valuation date and are categorized as Level 1 within the fair value hierarchy.

Foreign currency forward contracts are valued through an independent pricing service by interpolating between forward and spot currency rates in the London foreign exchange markets as of a designated hour on a valuation day. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Options, whether on securities, indices, futures contracts, or otherwise, traded on exchanges are valued at the last sale price available as of the close of business on a valuation day or, if there is no such price available, at the last reported bid price. These types of options are categorized as Level 1 within the fair value hierarchy. Futures contracts that are traded on commodity exchanges are valued at their settlement prices established by the exchanges on which they are traded as of the close of such exchanges and are categorized as Level 1 within the fair value hierarchy.

Options, including options on swaps (“swaptions”), currencies, and futures contracts that are traded OTC are generally valued on the basis of interdealer bid and ask prices or prices provided by pricing service providers who use a series of techniques, including simulation pricing models, to determine the value of the contracts. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, credit curves, measures of volatility and exchange rates. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Swap contracts (other than centrally cleared swaps) are marked-to-market daily based on quotations and prices supplied by market makers, broker-dealers and other pricing services. Such quotations and prices are derived utilizing observable data, including the underlying reference securities or indices, credit spread quotations and expected default recovery rates determined by the pricing service. These contracts are generally categorized as Level 2 within the fair value hierarchy.

BHFTII-296

Brighthouse Funds Trust II

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements—(Continued)

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange or a pricing service when the exchange price is not available. For centrally cleared credit default swaps, the clearing facility requires its members to provide actionable price levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. These securities are categorized as Level 2 within the fair value hierarchy. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates, including the overnight index swap rate and London Interbank Offered Rate (“LIBOR”) forward rate to produce the daily settlement price. These securities are categorized as Level 2 within the fair value hierarchy.

If no current market value quotation or other observable inputs are readily available or market value quotations are deemed to be unreliable for an investment, the fair value of the investment will be determined in accordance with procedures approved by, and under the general supervision of, the Board. In such a circumstance, the Board will be assisted in its responsibility to determine the fair value of an investment by the Valuation Committee (“Committee”) of the Adviser. The Committee provides general pricing oversight and fair value pricing determinations related to portfolio securities and meets on a regular basis to review reports relating to the valuation of the securities in each Portfolio. The Board has delegated to State Street Bank and Trust Company, the Trust’s Custodian (“Custodian”), the responsibility for calculating the NAVs of the Trust’s Portfolios. The Committee is responsible for overseeing the calculation of the NAVs of the Portfolios by the Custodian. The Committee also periodically reviews pricing services, including the pricing services providing fair value pricing for the Portfolio’s foreign securities, and is responsible for overseeing the correction of pricing errors and addressing other pricing issues that arise in the ordinary course of business, such as making real-time fair value determinations, as necessary.

No single standard for determining the fair value of an investment can be set forth because fair value depends upon the facts and circumstances with respect to each investment. Information relating to any relevant factors may be obtained by the Committee from any appropriate source, including the subadviser of 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 methods.

For information regarding a Portfolio’s other significant accounting policies, please refer to the Portfolio’s most recent Semiannual or Annual Report.

BHFTII-297