MassMutual Short-Duration Bond Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 93.6%
CORPORATE DEBT — 48.5%
Agriculture — 1.9%
BAT Capital Corp.
4.700% 4/02/27	$	2,220,000	$	2,131,003
Imperial Brands Finance PLC
3.125% 7/26/24 (a)		1,120,000		1,071,150
Wens Foodstuffs Group Co. Ltd.
2.349% 10/29/25 (a)		3,725,000		3,224,220
				6,426,373
Auto Manufacturers — 2.3%
Ford Motor Credit Co. LLC
2.300% 2/10/25 (b)		1,970,000		1,779,255
General Motors Co.
6.125% 10/01/25		1,407,000		1,433,128
Hyundai Capital America
1.500% 6/15/26 (a)		1,910,000		1,656,827
Nissan Motor Acceptance Co. LLC
1.850% 9/16/26 (a)		3,370,000		2,816,451
				7,685,661
Banks — 8.4%
ABN AMRO Bank NV
4.750% 7/28/25 (a)		1,585,000		1,537,149
ABQ Finance Ltd.
2.000% 7/06/26 (a)		3,800,000		3,370,524
Barclays PLC
5.200% 5/12/26		3,040,000		2,958,977
BPCE SA
4.625% 7/11/24 (a)		1,200,000		1,167,708
Burgan Bank SAK 5 year CMT + 2.229%
2.750% VRN 12/15/31 (a)		2,000,000		1,442,832
Credit Suisse Group AG
SOFR + .980% 1.305% VRN 2/02/27 (a)		1,610,000		1,285,880
6.500% 8/08/23 (a)		3,910,000		3,780,970
Danske Bank A/S 1 year CMT + .730%
1.549% VRN 9/10/27 (a)		1,850,000		1,586,560
Deutsche Bank AG
SOFR + 1.219% 2.311% VRN 11/16/27		1,215,000		1,031,722
SOFR + 1.318% 2.552% VRN 1/07/28		1,730,000		1,474,940
HSBC Holdings PLC SOFR + 1.290%
1.589% VRN 5/24/27		2,050,000		1,770,121
Macquarie Group Ltd. SOFR + 1.069%
1.340% VRN 1/12/27 (a)		1,500,000		1,308,735
Natwest Group PLC
1 year CMT + .900% 1.642% VRN 6/14/27		1,565,000		1,356,735
1 year CMT + 2.850% 7.472% VRN 11/10/26		450,000		468,680
Santander UK Group Holdings PLC SOFR + 1.220%
2.469% VRN 1/11/28		815,000		696,915

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Societe Generale SA
1 year CMT + 1.000% 1.792% VRN 6/09/27 (a)	$	245,000	$	211,358
1 year CMT + 1.300% 2.797% VRN 1/19/28 (a)		1,200,000		1,051,522
UBS Group AG 1 year CMT + 1.080%
1.364% VRN 1/30/27 (a)		1,325,000		1,161,638
				27,662,966
Beverages — 0.4%
JDE Peet's NV
1.375% 1/15/27 (a)		1,529,000		1,292,370
Chemicals — 2.0%
Celanese US Holdings LLC
6.050% 3/15/25		1,855,000		1,850,073
MEGlobal Canada ULC
5.000% 5/18/25 (a)		2,900,000		2,847,800
Yara International ASA
4.750% 6/01/28 (a)		2,125,000		1,962,797
				6,660,670
Commercial Services — 0.5%
Triton Container International Ltd.
2.050% 4/15/26 (a)		2,100,000		1,827,158
Distribution & Wholesale — 1.3%
Ferguson Finance PLC
4.250% 4/20/27 (a)		1,225,000		1,159,950
Li & Fung Ltd.
4.500% STEP 8/18/25 (a)		3,750,000		3,258,750
				4,418,700
Diversified Financial Services — 5.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
2.450% 10/29/26		2,290,000		2,004,829
Aircastle Ltd.
4.125% 5/01/24		1,990,000		1,924,032
Antares Holdings LP
2.750% 1/15/27 (a)		2,785,000		2,234,035
3.950% 7/15/26 (a)		4,980,000		4,312,031
Avolon Holdings Funding Ltd.
2.875% 2/15/25 (a)		3,045,000		2,811,543
BGC Partners, Inc.
4.375% 12/15/25		3,690,000		3,460,249
				16,746,719
Electric — 1.4%
Alliant Energy Finance LLC
1.400% 3/15/26 (a)		1,630,000		1,415,912
Enel Finance International NV
4.625% 6/15/27 (a)		2,079,000		1,969,508
Pacific Gas and Electric Co.
4.950% 6/08/25		1,110,000		1,093,711
				4,479,131

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Entertainment — 0.5%
Warnermedia Holdings, Inc.
3.638% 3/15/25 (a)	$	1,830,000	$	1,741,458
Food — 2.1%
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
2.500% 1/15/27 (a)		2,225,000		1,946,252
Pilgrim's Pride Corp.
5.875% 9/30/27 (a)		709,000		687,713
Smithfield Foods, Inc.
4.250% 2/01/27 (a)		4,625,000		4,264,256
				6,898,221
Home Builders — 0.3%
Toll Brothers Finance Corp.
4.875% 3/15/27		950,000		908,986
Housewares — 0.2%
Newell Brands, Inc.
6.375% 9/15/27		780,000		775,406
Insurance — 3.5%
AmTrust Financial Services, Inc.
6.125% 8/15/23		4,810,000		4,639,288
Athene Global Funding
1.730% 10/02/26 (a)		2,085,000		1,792,323
Jackson Financial, Inc.
5.170% 6/08/27 (b)		999,000		986,434
Sammons Financial Group, Inc.
4.450% 5/12/27 (a)		4,515,000		4,216,357
				11,634,402
Internet — 0.7%
Expedia Group, Inc.
4.625% 8/01/27		1,145,000		1,100,118
Netflix, Inc.
5.875% 11/15/28		1,207,000		1,223,331
				2,323,449
Investment Companies — 2.5%
Ares Capital Corp.
3.875% 1/15/26		1,635,000		1,500,115
Blackstone Private Credit Fund
2.625% 12/15/26		2,925,000		2,424,355
Golub Capital BDC, Inc.
2.500% 8/24/26		1,965,000		1,670,369
OWL Rock Core Income Corp.
4.700% 2/08/27		2,965,000		2,677,169
				8,272,008
Iron & Steel — 0.5%
Vale Overseas Ltd.
6.250% 8/10/26		1,549,000		1,602,661

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Lodging — 0.6%
Las Vegas Sands Corp.
3.200% 8/08/24	$	2,030,000	$	1,928,913
Machinery – Construction & Mining — 0.6%
The Weir Group PLC
2.200% 5/13/26 (a)		2,261,000		2,007,515
Mining — 0.6%
Alcoa Nederland Holding BV
6.125% 5/15/28 (a)		2,095,000		2,063,826
Multi-National — 1.5%
Africa Finance Corp.
3.125% 6/16/25 (a)		2,173,000		2,022,107
The Eastern & Southern African Trade & Development Bank
4.875% 5/23/24 (a)		3,000,000		2,879,700
				4,901,807
Oil & Gas — 1.8%
EQT Corp.
6.125% STEP 2/01/25		1,069,000		1,071,512
Ovintiv Exploration, Inc.
5.375% 1/01/26		1,200,000		1,191,912
Patterson-UTI Energy, Inc.
3.950% 2/01/28 (b)		4,130,000		3,649,472
				5,912,896
Pharmaceuticals — 0.7%
Viatris, Inc.
2.300% 6/22/27		2,655,000		2,270,707
Pipelines — 1.3%
Energy Transfer LP
4.950% 6/15/28		2,675,000		2,591,212
Plains All American Pipeline LP/PAA Finance Corp.
4.500% 12/15/26		960,000		922,807
4.650% 10/15/25		745,000		729,733
				4,243,752
Private Equity — 0.9%
Hercules Capital, Inc.
2.625% 9/16/26		3,488,000		2,945,398
Real Estate — 1.6%
MAF Sukuk Ltd.
4.500% 11/03/25 (a)		2,525,000		2,477,888
Shimao Group Holdings Ltd.
6.125% 2/21/24 (a)		14,600,000		2,684,759
				5,162,647
Real Estate Investment Trusts (REITS) — 2.1%
Boston Properties LP
6.750% 12/01/27		1,140,000		1,177,368

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Global Net Lease, Inc./Global Net Lease Operating Partnership LP
3.750% 12/15/27 (a)	$	1,125,000	$	935,267
Omega Healthcare Investors, Inc.
4.750% 1/15/28		2,069,000		1,908,838
Service Properties Trust
4.350% 10/01/24		2,115,000		1,922,686
Vornado Realty LP
2.150% 6/01/26		1,200,000		1,016,302
				6,960,461
Retail — 0.8%
Nordstrom, Inc.
2.300% 4/08/24 (b)		2,051,000		1,918,095
4.000% 3/15/27 (b)		740,000		616,124
				2,534,219
Savings & Loans — 0.1%
Nationwide Building Society
4.000% 9/14/26 (a)		297,000		270,298
Telecommunications — 2.0%
Telecom Italia SpA
5.303% 5/30/24 (a)		2,610,000		2,472,818
Tower Bersama Infrastructure Tbk PT
4.250% 1/21/25 (a)		4,450,000		4,274,399
				6,747,217
Toys, Games & Hobbies — 0.3%
Mattel, Inc.
3.375% 4/01/26 (a)		1,210,000		1,112,480
TOTAL CORPORATE DEBT (Cost $188,885,778)				160,418,475
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 45.1%
Automobile Asset-Backed Securities — 0.1%
AmeriCredit Automobile Receivables Trust, Series 2020-3, Class D
1.490% 9/18/26		339,000		313,876
Commercial Mortgage-Backed Securities — 4.4%
BAMLL Commercial Mortgage Securities Trust
Series 2019-BPR, Class CMP, 3.895% VRN 11/05/32 (a) (c)		2,280,000		1,950,707
Series 2019-BPR, Class DMP, 3.895% VRN 11/05/32 (a) (c)		3,050,000		2,586,467
Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 5.668% FRN 9/15/34 (a)		570,000		545,820
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2013-LC11, Class C,
3.958% VRN 4/15/46 (c)		1,015,000		791,858
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C7, Class B
3.769% 2/15/46		2,340,000		2,284,142
One New York Plaza Trust
Series 2020-1NYP, Class C, 1 mo. USD LIBOR + 2.200% 6.518% FRN 1/15/36 (a)		4,106,000		3,831,985

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2020-1NYP, Class D, 1 mo. USD LIBOR + 2.750% 7.068% FRN 1/15/36 (a)	$	2,760,000	$	2,511,451
				14,502,430
Home Equity Asset-Backed Securities — 0.0%
Credit Suisse Seasoned Loan Trust, Series 2006-1, Class A, 1 mo. USD LIBOR + .480%
4.869% FRN 10/25/34 (a)		34,748		34,727
Other Asset-Backed Securities — 22.2%
321 Henderson Receivables LLC
Series 2006-1A, Class A1, 1 mo. USD LIBOR + .200% 4.518% FRN 3/15/41 (a)		16,294		16,252
Series 2006-3A, Class A1, 1 mo. USD LIBOR + .200% 4.518% FRN 9/15/41 (a)		41,811		41,071
522 Funding CLO Ltd., Series 2018-3A, Class BR, 3 mo. USD LIBOR + 1.550%
5.793% FRN 10/20/31 (a)		2,352,000		2,254,975
Adams Outdoor Advertising LP, Series 2018-1, Class A
4.810% 11/15/48 (a)		1,719,101		1,630,931
AIMCO CLO 10 Ltd., Series 2019-10A, Class AR, 3 mo. USD LIBOR + 1.060%
5.385% FRN 7/22/32 (a)		5,000,000		4,888,835
Apollo Aviation Securitization AASET Trust, Series 2020-1A, Class B
4.335% 1/16/40 (a)		722,482		311,322
Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W10, Class M1, 1 mo. USD LIBOR + .900%
3.769% FRN 10/25/34		96,605		84,989
Ballyrock CLO Ltd., Series 2020-2A, Class A2R, 3 mo. USD LIBOR + 1.550%
5.793% FRN 10/20/31 (a)		4,700,000		4,529,874
BHG Securitization Trust, Series 2021-B, Class C
2.240% 10/17/34 (a)		3,736,000		3,235,503
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A, 2.940% 5/25/29 (a)		169,909		165,195
Series 2017-1A, Class B, 3.240% 5/25/29 (a)		48,546		47,192
Series 2019-A, Class B, 3.780% 9/26/33 (a)		886,654		847,715
Canyon Capital CLO Ltd., Series 2017-1A, Class CR, 3 mo. USD LIBOR + 2.000%
6.079% FRN 7/15/30 (a)		1,540,000		1,455,748
Capital Automotive REIT, Series 2020-1A, Class B1
4.170% 2/15/50 (a)		3,289,000		2,999,430
Castlelake Aircraft Securitization, Series 2019-1A, Class B
5.095% 4/15/39 (a)		707,996		524,750
Castlelake Aircraft Structured Trust, Series 2018-1, Class A
4.125% 6/15/43 (a)		1,171,890		1,027,146
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 3 mo. USD LIBOR + .980%
5.223% FRN 4/20/31 (a)		900,000		886,392
CF Hippolyta Issuer LLC, Series 2020-1, Class B1
2.280% 7/15/60 (a)		583,130		501,908
Elara HGV Timeshare Issuer LLC
Series 2017-A, Class B, 2.960% 3/25/30 (a)		513,382		496,330
Series 2019-A, Class C, 3.450% 1/25/34 (a)		1,939,696		1,841,291
FCI Funding LLC, Series 2019-1A, Class A
3.630% 2/18/31 (a)		38,976		38,939

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Goodgreen Trust
Series 2019-2A, Class A, 2.760% 4/15/55 (a)	$	2,152,394	$	1,853,348
Series 2016-1A, Class A, 3.230% 10/15/52 (a)		813,243		738,709
Series 2019-1A, Class A, 3.860% 10/15/54 (a)		1,791,043		1,663,895
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (a) (c)		2,510,644		2,311,745
Gracie Point International Funding, Series 2021-1A, Class B, 1 mo. USD LIBOR + 1.400%
5.520% FRN 11/01/23 (a)		1,750,000		1,743,549
Hero Funding Trust
Series 2017-3A, Class A1, 3.190% 9/20/48 (a)		618,079		563,788
Series 2017-2A, Class A1, 3.280% 9/20/48 (a)		120,657		111,700
Series 2016-4A, Class A1, 3.570% 9/20/47 (a)		303,204		287,099
Series 2015-1A, Class A, 3.840% 9/21/40 (a)		203,470		191,864
Series 2017-2A, Class A2, 4.070% 9/20/48 (a)		98,034		91,353
Series 2018-1A, Class A2, 4.670% 9/20/48 (a)		796,043		756,291
Hilton Grand Vacations Trust, Series 2019-AA, Class C
2.840% 7/25/33 (a)		881,526		827,396
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A
4.458% 12/15/38 (a)		806,052		660,156
Horizon Aircraft Finance II Ltd, Series 2019-1, Class A
3.721% 7/15/39 (a)		2,459,692		1,934,865
Horizon Aircraft Finance III Ltd.
Series 2019-2, Class A, 3.425% 11/15/39 (a)		2,135,512		1,647,746
Series 2019-2, Class B, 4.458% 11/15/39 (a)		1,757,143		1,077,913
Hotwire Funding LLC, Series 2021-1, Class B
2.658% 11/20/51 (a)		3,753,000		3,118,666
Kestrel Aircraft Funding Limited, Series 2018-1A, Class A
4.250% 12/15/38 (a)		3,093,136		2,443,702
MACH 1 Cayman Ltd., Series 2019-1, Class A
3.474% 10/15/39 (a)		1,744,815		1,410,349
Mosaic Solar Loans LLC
Series 2018-2GS, Class A, 4.200% 2/22/44 (a)		630,509		571,406
Series 2017-1A, Class A, 4.450% 6/20/42 (a)		112,213		107,440
Neuberger Berman Loan Advisers CLO Ltd., Series 2017-24A, Class BR, 3 mo. USD LIBOR + 1.500%
5.727% FRN 4/19/30 (a)		500,000		486,588
New Residential Advance Receivables Trust, Series 2020-T1, Class ET1
5.467% 8/15/53 (a)		1,651,000		1,573,220
Newark BSL CLO 2 Ltd., Series 2017-1A, Class A2R, 3 mo. USD LIBOR + 1.400%
5.758% FRN 7/25/30 (a)		1,375,000		1,330,493
Orange Lake Timeshare Trust
Series 2016-A, Class B, 2.910% 3/08/29 (a)		229,000		228,929
Series 2018-A, Class C, 3.740% 11/08/30 (a)		198,793		193,776
Oxford Finance Funding LLC, Series 2020-1A, Class B
4.037% 2/15/28 (a)		832,717		827,450
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A
3.967% 6/15/44 (a)		1,374,795		1,092,470
Rad CLO 1 Ltd., Series 2018-1A, Class BR, 3 mo. USD LIBOR + 1.400%
5.479% FRN 7/15/31 (a)		2,650,000		2,568,203
Sierra Receivables Funding LLC, Series 2020-2A, Class C
3.510% 7/20/37 (a)		249,118		234,877
TAL Advantage VII LLC, Series 2020-1A, Class B
3.290% 9/20/45 (a)		2,596,750		2,281,037
Thrust Engine Leasing, Series 2021-1A, Class A
4.163% 7/15/40 (a)		4,070,762		2,993,525
Trafigura Securitisation Finance PLC, Series 2021-1A, Class B
1.780% 1/15/25 (a)		7,048,000		6,281,178

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Welk Resorts LLC, Series 2017-AA, Class B
3.410% 6/15/33 (a)	$	481,209	$	479,750
Willis Engine Structured Trust IV, Series 2018-A, Class A,
4.750% STEP 9/15/43 (a)		1,450,251		1,158,159
				73,668,423
Student Loans Asset-Backed Securities — 8.6%
Access Group, Inc., Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500%
5.889% FRN 7/25/58 (a)		630,000		579,803
Chase Education Loan Trust, Series 2007-A, Class B, 3 mo. USD LIBOR + .220%
4.944% FRN 3/28/68		402,144		372,845
College Avenue Student Loans LLC
Series 2021-A, Class B, 2.320% 7/25/51 (a)		7,266,691		6,500,596
Series 2019-A, Class B, 3.810% 12/28/48 (a)		1,483,794		1,372,733
Series 2017-A, Class A1, 1 mo. USD LIBOR + 1.650% 6.039% FRN 11/26/46 (a)		446,670		430,246
College Loan Corp. Trust, Series 2005-2, Class B, 3 mo. USD LIBOR + .490%
4.569% FRN 1/15/37		415,872		356,694
Commonbond Student Loan Trust
Series 2017-AGS, Class B, 3.470% 5/25/41 (a)		353,806		327,369
Series 2018-AGS, Class C, 3.820% 2/25/44 (a)		107,840		93,658
Series 2018-BGS, Class C, 4.120% 9/25/45 (a)		85,617		76,892
Series 2018-CGS, Class C, 4.350% 2/25/46 (a)		38,660		34,665
Series 2017-AGS, Class C, 5.280% 5/25/41 (a)		149,221		138,240
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B
2.500% 1/25/30 (a)		123,936		116,861
DRB Prime Student Loan Trust
Series 2017-C, Class B, 2.950% 11/25/42 (a)		689,625		667,780
Series 2017-B, Class CFX, 3.610% 8/25/42 (a)		688,402		661,556
ELFI Graduate Loan Program LLC, Series 2018-A, Class B
4.000% 8/25/42 (a)		214,648		200,080
Goal Capital Funding Trust
Series 2010-1, Class A, 3 mo. USD LIBOR + .700% 5.457% FRN 8/25/48 (a)		51,013		49,480
Series 2015-1, Class B, ABS, 144A, 1 mo. USD LIBOR + 1.500% 5.889% FRN 9/25/43 (a)		100,000		96,352
Higher Education Funding I, Series 2004-1, Class B1,
4.161% FRN 1/01/44 (a) (c)		950,000		855,655
Laurel Road Prime Student Loan Trust, Series 2019-A, Class BFX
3.000% 10/25/48 (a)		1,210,820		1,156,191
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750%
6.139% FRN 12/26/40 (a)		14,234		14,227
Nelnet Student Loan Trust
Series 2006-2, Class B, 3 mo. USD LIBOR + .200% 4.558% FRN 1/25/38		654,340		578,796
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 4.974% FRN 6/25/41		1,033,052		936,604
Series 2012-4A, Class B, 1 mo. USD LIBOR + 1.000% 5.389% FRN 7/26/49 (a)		900,000		770,268
Series 2018-5A, Class B, 1 mo. USD LIBOR + 1.450% 5.839% FRN 2/25/67 (a)		1,000,000		959,483
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 6/25/54 (a)		395,000		371,944
SLC Student Loan Trust
Series 2005-1, Class B, 3 mo. USD LIBOR + .200% 4.850% FRN 2/15/45		402,728		356,553
Series 2006-2, Class B, 3 mo. USD LIBOR + .230% 4.999% FRN 12/15/39		1,028,624		930,234

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2005-3, Class B, 3 mo. USD LIBOR + .250% 5.019% FRN 6/15/55	$	842,069	$	773,902
SLM Student Loan Trust
Series 2005-4, Class B, 3 mo. USD LIBOR + .180% 4.538% FRN 7/25/55		484,384		445,148
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 4.568% FRN 10/25/40		429,119		401,109
Series 2005-5, Class B, ABS, 3 mo. USD LIBOR + .250% 4.608% FRN 10/25/40		488,621		415,677
Series 2003-14, Class A6, 3 mo. USD LIBOR + .300% 4.658% FRN 7/25/25		1,794		1,793
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 4.668% FRN 1/25/55		346,931		316,746
Series 2004-1 Class B, 3 mo. USD LIBOR + .500% 4.858% FRN 7/25/39		328,865		309,968
Series 2003-4, Class B, 3 mo. USD LIBOR + .650% 5.419% FRN 6/15/38		223,289		209,680
Series 2003-11, Class B, 3 mo. USD LIBOR + .650% 5.419% FRN 12/15/38		824,368		773,288
SMB Private Education Loan Trust
Series 2014-A, Class B, 4.000% 9/15/42 (a)		1,250,000		1,174,572
Series 2015-C, Class C, 4.500% 9/17/46 (a)		1,710,000		1,613,740
Series 2016-C, Class A2B, 1 mo. USD LIBOR + 1.100% 5.418% FRN 9/15/34 (a)		66,936		66,119
SoFi Alternative Trust, Series 2019-C, Class PT,
5.188% VRN 1/25/45 (a) (c)		2,002,218		1,848,848
SoFi Professional Loan Program LLC
Series 2019-A, Class BFX, ABS, 144A, 4.110% 6/15/48 (a)		870,000		812,702
Series 2016-D, Class A1, 1 mo. USD LIBOR + .950% 5.339% FRN 1/25/39 (a)		7,699		7,676
Wachovia Student Loan Trust, Series 2005-1, Class B, ABS, 3 mo. USD LIBOR + .300%
4.658% FRN 10/25/40		349,260		319,694
				28,496,467
Whole Loan Collateral Collateralized Mortgage Obligations — 9.8%
Angel Oak Mortgage Trust
Series 2020-5, Class A3, 2.041% VRN 5/25/65 (a) (c)		574,901		502,980
Series 2021-1, Class M1, 2.215% VRN 1/25/66 (a) (c)		2,290,000		1,474,509
Series 2021-3, Class M1, 2.479% VRN 5/25/66 (a) (c)		6,583,000		3,793,871
Bank of America Mortgage Securities, Series 2004-G, Class 2A7,
3.961% VRN 8/25/34 (c)		8,147		7,665
Credit Suisse Mortgage Capital Certificates, Series 2021-NQM4, Class M1,
2.472% VRN 5/25/66 (a) (c)		7,095,350		4,115,420
FWD Securitization Trust, Series 2020-INV1, Class M1,
2.850% VRN 1/25/50 (a) (c)		1,804,000		1,281,600
Merrill Lynch Mortgage Investors, Inc., Series 2004-A1, Class IIA2,
3.186% VRN 2/25/34 (c)		40,264		37,224
MFRA Trust, Series 2020-NQM1, Class A3,
2.300% VRN 8/25/49 (a) (c)		479,963		422,064
New Residential Mortgage Loan Trust, Series 2020-NQM1, Class M1,
3.207% VRN 1/26/60 (a) (c)		2,252,000		1,774,541
Oceanview Trust, Series 2021-1, Class M3
3.090% 12/29/51 (a)		5,000,000		4,638,514
Onslow Bay Financial LLC
Series 2021-NQM1, Class M1, 2.219% VRN 2/25/66 (a) (c)		2,501,000		1,385,904
Series 2020-INV1, Class A21, 3.500% VRN 12/25/49 (a) (c)		995,237		845,296
Shellpoint Co-Originator Trust, Series 2016-1, Class 2A3,
3.000% VRN 10/25/31 (a) (c)		205,099		185,503
Starwood Mortgage Residential Trust
Series 2021-3, Class M1, 2.491% VRN 6/25/56 (a) (c)		5,582,000		3,243,458
Series 2020-INV1, Class M1, 2.501% 11/25/55 (a)		2,500,000		1,912,387
Toorak Mortgage Corp., Series 2021-INV1, Class M1,
2.585% VRN 7/25/56 (a) (c)		1,222,000		702,946

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Verus Securitization Trust
Series 2021-1, Class M1, 1.968% VRN 1/25/66 (a) (c)	$	2,247,000	$	1,343,821
Series 2019-INV3, Class M1, 3.279% VRN 11/25/59 (a) (c)		2,129,000		1,760,687
Series 2020-4, Class M1, 3.291% VRN 5/25/65 (a) (c)		3,602,000		2,948,978
				32,377,368
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $177,455,173)				149,393,291
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (d) — 0.0%
Pass-Through Securities — 0.0%
Federal Home Loan Mortgage Corp. Pool #1Q0239, 1 year CMT + 2.175% 3.018% FRN 3/01/37		59,717		60,438
Federal National Mortgage Association Pool #775539 12 mo. USD LIBOR + 1.641% 3.391% FRN 5/01/34		13,831		13,908
Government National Mortgage Association Pool #507545 7.500% 8/15/29		19,123		20,009
				94,355
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $93,901)				94,355
TOTAL BONDS & NOTES (Cost $366,434,852)				309,906,121
	Number of Shares
MUTUAL FUNDS — 1.8%
Diversified Financial Services — 1.8%
State Street Navigator Securities Lending Government Money Market Portfolio (e)		5,878,503		5,878,503
TOTAL MUTUAL FUNDS (Cost $5,878,503)				5,878,503
TOTAL LONG-TERM INVESTMENTS (Cost $372,313,355)				315,784,624

	Principal Amount
SHORT-TERM INVESTMENTS — 4.5%
Commercial Paper — 4.2%
Alimentation Couche-Tard, Inc.
4.835% 1/11/23 (a)	$	2,000,000	1,996,885
Fidelity National Information Services, Inc.
4.941% 1/19/23 (a)		3,000,000	2,992,288
Florida Power & Light Co.
4.311% 1/03/23		2,000,000	1,999,018
HP, Inc.
4.864% 1/23/23 (a)		6,000,000	5,981,424

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Parker-Hannifin Corp.
5.078% 3/23/23 (a)	$	1,000,000	$	988,417
				13,958,032
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (f)		1,073,803		1,073,803
TOTAL SHORT-TERM INVESTMENTS (Cost $15,032,937)				15,031,835
TOTAL INVESTMENTS — 99.9% (Cost $387,346,292) (g)				330,816,459
Other Assets/(Liabilities) — 0.1%				240,031
NET ASSETS — 100.0%			$	331,056,490

Abbreviation Legend

CLO Collateralized Loan Obligation

FRN Floating Rate Note

STEP Step Up Bond

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $239,948,614 or 72.48% of net assets.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $5,751,982 or 1.74% of net assets. (Note 2).

(c) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2022.

(d) May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency.

(e) Represents investment of security lending cash collateral. (Note 2).

(f) Maturity value of $1,073,956. Collateralized by U.S. Government Agency obligations with a rate of 2.875%, maturity date of 5/15/28, and an aggregate market value, including accrued interest, of $1,095,353.

(g) See Note 3 for aggregate cost for federal tax purposes.

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Short
U.S. Treasury Long Bond	3/22/23		13	$	(1,669,302)	$	39,833
U.S. Treasury Ultra 10 Year	3/22/23		107		(12,674,972)		18,878
U.S. Treasury Note 2 Year	3/31/23		297		(60,850,067)		(58,136)
U.S. Treasury Note 5 Year	3/31/23		831		(89,674,357)		(15,214)
						$	(14,639)

Centrally Cleared Interest Rate Swaps

Paid by the Fund

Received by the Fund

Rate/ Reference

Frequency

Rate/ Reference

Frequency

Termination Date

Notional Amount

Value

Upfront Premium Paid/ (Received)

Unrealized Appreciation/ (Depreciation)

3-Month USD LIBOR BBA

Quarterly

Fixed 1.047%

Semi-Annually

11/22/24

USD

60,500,000

$

(4,017,519)

$

—

$

(4,017,519)

Currency Legend

USD U.S. Dollar

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 88.0%
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 51.4%
Automobile Asset-Backed Securities — 6.6%
Avis Budget Rental Car Funding, Series 2017-2A, Class D
4.560% 3/20/24 (a)	$	2,500,000	$	2,491,297
Carvana Auto Receivables Trust, Series 2020-N3, Class B
0.660% 6/12/28		1,830,215		1,666,845
Drive Auto Receivables Trust, Series 2021-1, Class C
1.020% 6/15/27		2,700,000		2,641,723
Hertz Vehicle Financing LLC, Series 2021-1A, Class D
3.980% 12/26/25 (a)		4,600,000		4,089,645
Onemain Direct Auto Receivable Trust, Series 2022-1A, Class C
5.310% 6/14/29 (a)		1,100,000		1,058,418
Santander Drive Auto Receivables Trust, Series 2021-2, Class D
1.350% 7/15/27		5,000,000		4,678,435
Westlake Automobile Receivables Trust, Series 2020-3A, Class D
1.650% 2/17/26 (a)		2,779,000		2,635,620
				19,261,983
Commercial Mortgage-Backed Securities — 4.5%
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500%
5.818% FRN 7/15/35 (a)		1,150,000		1,088,175
BX Commercial Mortgage Trust, Series 2019-XL, Class F, 1 mo. TSFR + 2.114%
6.450% FRN 10/15/36 (a)		2,082,500		2,004,552
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750%
6.068% FRN 12/15/37 (a)		250,836		242,067
Credit Suisse Mortgage Capital Certificates
Series 2019-ICE4, Class D, 1 mo. USD LIBOR + 1.600% 5.918% FRN 5/15/36 (a)		6,000,000		5,850,274

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2019-ICE4, Class E, 1 mo. USD LIBOR + 2.150% 6.468% FRN 5/15/36 (a)	$	3,605,000	$	3,488,047
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
6.118% FRN 5/15/36 (a)		389,000		378,564
				13,051,679
Home Equity Asset-Backed Securities — 0.6%
Centex Home Equity Loan Trust, Series 2006-A, Class M1, 1 mo. USD LIBOR + .450%
4.839% FRN 6/25/36		157,936		157,191
Home Equity Asset Trust, Series 2005-9, Class M1, 1 mo. USD LIBOR + .615%
5.004% FRN 4/25/36		1,701,152		1,654,896
				1,812,087
Other Asset-Backed Securities — 21.5%
321 Henderson Receivables LLC, Series 2006-3A, Class A1, 1 mo. USD LIBOR + .200%
4.518% FRN 9/15/41 (a)		44,947		44,151
Affirm Asset Securitization Trust
Series 2021-Z1, Class A, 1.070% 8/15/25 (a)		6,703,618		6,517,715
Series 2021-Z2, Class A, 1.170% 11/16/26 (a)		1,050,680		1,003,981
Series 2022-X1, Class A, 1.750% 2/15/27 (a)		1,093,305		1,062,706
Series 2020-Z2, Class A, 1.900% 1/15/25 (a)		989,183		973,401
BHG Securitization Trust
Series 2021-B, Class A, 0.900% 10/17/34 (a)		1,218,597		1,148,513
Series 2022-C, Class A, 5.320% 10/17/35 (a)		1,641,547		1,628,010
Cascade Funding Mortgage Trust, Series 2021-EBO1, Class A,
0.985% VRN 11/25/50 (a) (b)		1,652,419		1,552,258
Citigroup Mortgage Loan Trust, Series 2006-WFH2, Class M1, 1 mo. USD LIBOR + .405%
4.794% FRN 8/25/36		122,236		122,122
Crossroads Asset Trust, Series 2021-A, Class A2
0.820% 3/20/24 (a)		120,176		119,252
FCI Funding LLC
Series 2021-1A, Class A, 1.130% 4/15/33 (a)		1,565,298		1,528,711
Series 2021-1A, Class B, 1.530% 4/15/33 (a)		1,043,422		1,019,904
First Franklin Mortgage Loan Trust
Series 2006-FF15, Class A5, 1 mo. USD LIBOR + .160% 4.549% FRN 11/25/36		432,633		418,934

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2005-FF9, Class A4, 1 mo. USD LIBOR + .720% 5.109% FRN 10/25/35	$	135,923	$	135,731
FNA VI LLC, Series 21-1A, Class A
1.350% 1/10/32 (a)		3,265,085		2,971,108
FREED ABS Trust, Series 2021-2, Class B
1.030% 6/19/28 (a)		372,444		371,256
Gracie Point International Funding
Series 2021-1A, Class A, 1 mo. USD LIBOR + .750% 4.870% FRN 11/01/23 (a)		7,164,245		7,135,512
Series 2022-1A, Class C, 30 day SOFR + 3.500% 7.545% FRN 4/01/24 (a)		2,300,000		2,266,147
30 day SOFR + 4.000% 8.045% FRN 11/01/24 (a)		2,500,000		2,499,997
Series 2022-1A, Class E, 30 day SOFR + 5.750% 9.795% FRN 4/01/24 (a)		1,287,000		1,286,992
Hilton Grand Vacations Trust, Series 2022-2A, Class C
5.570% 1/25/37 (a)		1,442,972		1,388,352
JP Morgan Mortgage Acquisition Trust, Series 2007-CH3, Class A5, 1 mo. USD LIBOR + .260%
4.649% FRN 3/25/37		276,494		264,960
KREF Ltd., Series 2021-FL2, Class D, 1 mo. USD LIBOR + 2.200%
6.526% FRN 2/15/39 (a)		900,000		829,338
LCM Ltd., Series 19A, Class AR, 3 mo. USD LIBOR + 1.240%
5.319% FRN 7/15/27 (a)		258,717		257,720
Lendingpoint Asset Securitization, Series 2021-A, Class B
1.110% 2/15/29 (a)		884,552		878,248
Lendmark Funding Trust, Series 2019-2A, Class A
2.780% 4/20/28 (a)		2,786,581		2,702,476
New Residential Advance Receivables Trust Advance Receivables Backed
Series 2020-T1, Class BT1, 1.823% 8/15/53 (a)		1,000,000		961,803
Series 2020-T1, Class DT1, 3.011% 8/15/53 (a)		1,510,000		1,450,609
NP SPE II LP, Series 2019-1A, Class A1
2.574% 9/20/49 (a)		166,374		154,328
Oportun Funding LLC, Series 2022-1, Class A
3.250% 6/15/29 (a)		1,820,577		1,789,597
Orange Lake Timeshare Trust
Series 2016-A, Class A, 2.610% 3/08/29 (a)		240,919		238,874
Series 2016-A, Class B, 2.910% 3/08/29 (a)		319,238		319,139
Pagaya AI Debt Selection Trust
Series 2021-3, Class A, 1.150% 5/15/29 (a)		2,310,814		2,254,713
Series 2022-1, Class A, 2.030% 10/15/29 (a)		9,593,593		9,221,549
Sierra Receivables Funding LLC
Series 2019-3A, Class C, 3.000% 8/20/36 (a)		683,555		644,945
Series 2019-2A, Class C, 3.120% 5/20/36 (a)		620,099		581,940
Series 2019-1A, Class C, 3.770% 1/20/36 (a)		199,212		186,487
Series 2018-1A, Class B, 4.036% 4/20/35		217,065		206,433

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2019-3A, Class D, 4.180% 8/20/36 (a)	$	171,472	$	162,579
Series 2019-1A, Class D, 4.750% 1/20/36 (a)		127,827		121,312
Structured Asset Investment Loan Trust, Series 2005-2, Class M2, 1 mo. USD LIBOR + .735%
5.124% FRN 3/25/35		448,181		444,170
Structured Asset Securities Corp. Mortgage Loan Trust
Series 2006-BC6, Class A4, 1 mo. USD LIBOR + .170% 4.559% FRN 1/25/37		182,817		177,775
Series 2006-WF1, Class M4, 1 mo. USD LIBOR + .645% 5.034% FRN 2/25/36		280,637		280,053
Upstart Securitization Trust, Series 2021-4, Class A
0.840% 9/20/31 (a)		3,469,481		3,353,892
				62,677,693
Student Loans Asset-Backed Securities — 6.6%
Chase Education Loan Trust, Series 2007-A, Class A4, 3 mo. USD LIBOR + .100%
4.824% FRN 3/28/68		1,541,060		1,496,991
College Loan Corp. Trust, Series 2005-2, Class B, 3 mo. USD LIBOR + .490%
4.569% FRN 1/15/37		210,125		180,224
Commonbond Student Loan Trust
Series 2021-AGS, Class B, 1.400% 3/25/52 (a)		163,059		137,820
Series 2018-CGS, Class C, 4.350% 2/25/46 (a)		10,015		8,980
Series 2019-AGS, Class A2, 1 mo. USD LIBOR + .900% 5.289% FRN 1/25/47 (a)		397,746		396,818
DRB Prime Student Loan Trust, Series 2017-A, Class A1, 1 mo. USD LIBOR + .850%
5.239% FRN 5/27/42 (a)		495,813		495,896
Edsouth Indenture No 10 LLC, No.10 LLC, Series 2015-2, Class B, 1 mo. USD LIBOR + 1.500%
5.889% FRN 12/25/58 (a)		750,000		749,573
ELFI Graduate Loan Program LLC, Series 2018-A, Class A1, 1 mo. USD LIBOR + .750%
5.139% FRN 8/25/42 (a)		620,308		605,152
Goal Capital Funding Trust, Series 2010-1, Class A, 3 mo. USD LIBOR + .700%
5.457% FRN 8/25/48 (a)		92,552		89,771
JP Morgan Student Loan Trust, Series 2007-A, Class B, 3 mo. USD LIBOR + .350%
4.724% FRN 6/28/39 (a)		199,636		179,939

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Laurel Road Prime Student Loan Trust
Series 2019-A, Class A1FX, 2.340% 10/25/48 (a)	$	118,173	$	115,731
Series 2018-B, Class A2FX, 3.540% 5/26/43 (a)		401,405		391,777
Series 2017-C, Class A1, 1 mo. USD LIBOR + .550% 4.939% FRN 11/25/42 (a)		52,234		51,970
Navient Private Education Refi Loan Trust
Series 2021-A, Class A, 0.840% 5/15/69 (a)		5,362,069		4,637,689
Series 2020-HA, Class A, 1.310% 1/15/69 (a)		1,337,428		1,187,314
Navient Student Loan Trust, Series 2016-7A, Class A, 1 mo. USD LIBOR + 1.150%
5.539% FRN 3/25/66 (a)		1,272,714		1,231,727
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750%
6.139% FRN 12/26/40 (a)		7,569		7,565
Nelnet Student Loan Trust
Series 2006-2, Class B, 3 mo. USD LIBOR + .200% 4.558% FRN 1/25/38		269,434		238,328
Series 2004-3, Class B, 3 mo. USD LIBOR + .350% 4.708% FRN 10/25/40		545,845		507,660
Series 2005-2, Class B, 3 mo. USD LIBOR + .170% 4.923% FRN 3/23/37		523,365		475,396
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 4.974% FRN 6/25/41		167,871		152,198
Series 2014-2A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 6/25/41 (a)		295,000		291,606
SLC Student Loan Trust
Series 2006-2, Class B, 3 mo. USD LIBOR + .230% 4.999% FRN 12/15/39		218,193		197,322
Series 2005-2, Class B, 3 mo. USD LIBOR + .280% 5.049% FRN 3/15/40		725,927		675,232
SLM Student Loan Trust
Series 2005-5, Class A4, 3 mo. USD LIBOR + .140% 4.498% FRN 10/25/28		359,137		355,130
Series 2006-4, Class B, 3 mo. USD LIBOR + .200% 4.558% FRN 1/25/70		152,177		143,057
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 4.568% FRN 10/25/40		221,556		207,095
Series 2006-2, Class B, 3 mo. USD LIBOR + .220% 4.578% FRN 1/25/41		233,112		214,764
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 4.668% FRN 1/25/55		208,159		190,048
Series 2004-3, Class B, 3 mo. USD LIBOR + .470% 4.828% FRN 10/25/64		152,540		144,467
Series 2003-11, Class B, 3 mo. USD LIBOR + .650% 5.419% FRN 12/15/38		167,102		156,747
SMB Private Education Loan Trust
Series 2019-A, Class A2B, 1 mo. USD LIBOR + .870% 5.188% FRN 7/15/36 (a)		941,688		928,391
Series 2014-A, Class A3, 1 mo. USD LIBOR + 1.500% 5.818% FRN 4/15/32 (a)		1,273,940		1,269,603
SoFi Alternative Trust, Series 2019-C, Class PT,
5.188% VRN 1/25/45 (a) (b)		506,250		467,471

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SoFi Professional Loan Program LLC, Series 2018-D, Class A2FX
3.600% 2/25/48 (a)	$	803,987	$	773,050
				19,352,502
Whole Loan Collateral Collateralized Mortgage Obligations — 11.6%
Angel Oak Mortgage Trust, Series 2022-2, Class A1,
3.353% VRN 1/25/67 (a) (b)		2,231,519		2,038,266
BRAVO Residential Funding Trust, Series 2021-NQM2, Class A3,
1.435% VRN 3/25/60 (a) (b)		828,340		741,642
CIM Trust, Series 2019-INV3, Class A11, 1 mo. USD LIBOR + 1.000%
4.966% FRN 8/25/49 (a)		750,331		690,058
COLT Mortgage Loan Trust, Series 2022-1, Class A1,
2.284% VRN 12/27/66 (a) (b)		8,449,335		7,347,324
Deephaven Residential Mortgage Trust, Series 2021-1, Class A3,
1.128% VRN 5/25/65 (a) (b)		459,717		404,292
Lakeview Trust
Series 2022-1, Class M3, 4.585% 4/25/52 (a)		1,400,000		1,308,143
Series 2022-3, Class M3, 5.437% 5/29/52 (a)		3,300,000		3,037,980
NewRez Warehouse Securitization Trust, Series 2021-1, Class A, 1 mo. USD LIBOR + .750%
5.139% FRN 5/25/55 (a)		5,333,000		5,242,507
Oceanview Trust
Series 2021-1, Class A, 1.219% 12/29/51 (a)		2,448,993		2,342,281
Series 2021-1, Class M3, 3.090% 12/29/51 (a)		2,906,000		2,695,904
Onslow Bay Financial LLC
Series 2021-NQM2, Class A2, 1.357% VRN 5/25/61 (a) (b)		645,303		489,175
Series 2020-EXP1, Class 2A2, 1 mo. USD LIBOR + .950% 5.339% FRN 2/25/60 (a)		355,527		325,068
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850%
7.239% FRN 2/25/23 (a)		270,000		269,416
PSMC Trust, Series 2020-2, Class A2,
3.000% VRN 5/25/50 (a) (b)		888,724		786,103
Starwood Mortgage Residential Trust
Series 2020-1, Class M1, 2.878% VRN 2/25/50 (a) (b)		1,000,000		848,473
Series 2019-INV1, Class A3, 2.916% VRN 9/27/49 (a) (b)		1,126,290		1,057,779
Starwood Residential Mortgage Trust, Series 2021-1, Class A3,
1.528% VRN 5/25/65 (a) (b)		3,858,327		3,159,170
Verus Securitization Trust
Series 2021-3, Class A3, 1.437% VRN 6/25/66 (a) (b)		979,325		780,802

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2019-INV2, Class A3, 3.219% VRN 7/25/59 (a) (b)	$	432,948	$	412,751
				33,977,134
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $157,677,837)				150,133,078
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (c) — 11.5%
Whole Loans — 11.5%
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2021-DNA6, Class M1, 30 day SOFR + .800% 4.728% FRN 10/25/41 (a)		6,950,000		6,860,590
Series 2021-HQA3, Class M1, 30 day SOFR + .850% 4.778% FRN 9/25/41 (a)		8,509,342		8,136,820
Series 2021-DNA7, Class M1, 30 day SOFR + .850% 4.778% FRN 11/25/41 (a)		2,130,043		2,091,414
Series 2022-DNA1, Class M1A, 30 day SOFR + 1.000% 4.928% FRN 1/25/42 (a)		665,140		649,241
Series 2022-DNA3, Class M1A, 30 day SOFR + 2.000% 5.928% FRN 4/25/42 (a)		3,343,337		3,335,931
Series 2020-DNA1, Class M2, 1 mo. USD LIBOR + 1.700% 6.089% FRN 1/25/50 (a)		1,233,118		1,227,997
Series 2018-DNA3, Class M2A, 1 mo. USD LIBOR + 2.100% 6.489% FRN 9/25/48 (a)		862,653		863,621
Series 2020-DNA5, Class M2, 30 day SOFR + 2.800% 6.728% FRN 10/25/50 (a)		600,914		603,816
Series 2022-DNA5, Class M1A, 30 day SOFR + 2.950% 6.878% FRN 6/25/42 (a)		3,280,913		3,316,991
Federal National Mortgage Association Connecticut Avenue Securities Trust
Series 2019-R03, Class 1M2, 1 mo. USD LIBOR + 2.150% 6.539% FRN 9/25/31 (a)		799,379		797,415
Series 2019-R02, Class 1M2, 1 mo. USD LIBOR + 2.300% 6.689% FRN 8/25/31 (a)		376,307		376,406
Series 2022-R07, Class 1M1, 30 day SOFR + 2.950% 6.894% FRN 6/25/42 (a)		5,303,437		5,349,160
				33,609,402
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $34,251,188)				33,609,402

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
U.S. TREASURY OBLIGATIONS — 25.1%
U.S. Treasury Bonds & Notes — 25.1%
U.S. Treasury Inflation Index
0.125% 2/15/52	$	1,873,200	$	1,212,970
0.125% 4/15/25		2,739,776		2,612,848
0.125% 10/15/25		4,048,075		3,850,178
0.125% 4/15/26		2,045,196		1,924,455
0.125% 7/15/26		2,324,597		2,192,476
0.125% 10/15/26		3,762,053		3,529,667
0.125% 4/15/27		2,849,445		2,658,165
0.125% 1/15/30		1,853,040		1,666,409
0.125% 7/15/30		3,021,668		2,708,613
0.125% 1/15/31		3,205,048		2,849,613
0.125% 7/15/31		2,418,056		2,138,988
0.125% 1/15/32		3,332,283		2,921,996
0.125% 2/15/51		1,201,725		773,829
0.250% 7/15/29		2,242,433		2,055,242
0.250% 2/15/50		1,622,600		1,094,008
0.375% 7/15/25 (d)		1,916,178		1,841,664
0.375% 1/15/27		1,911,987		1,804,761
0.375% 7/15/27		1,461,732		1,379,038
0.500% 1/15/28		1,691,200		1,592,040
0.625% 1/15/26		1,254,040		1,204,760
0.625% 7/15/32		5,691,803		5,218,968
0.625% 2/15/43		1,036,832		836,540
0.750% 7/15/28		2,813,356		2,682,854
0.750% 2/15/42		1,582,440		1,324,614
0.750% 2/15/45		1,632,340		1,320,006
0.875% 1/15/29		2,035,638		1,941,470
0.875% 2/15/47 (e)		1,172,671		961,208
1.000% 2/15/46 (e)		1,131,813		961,127
1.000% 2/15/49		479,581		400,781
1.375% 2/15/44		1,534,236		1,424,742
1.625% 10/15/27		3,822,382		3,821,934
1.750% 1/15/28		3,413,592		3,414,881
2.000% 1/15/26		750,650		750,335
2.125% 2/15/40		689,310		729,753
2.125% 2/15/41		693,937		735,166
2.375% 1/15/27		1,034,299		1,055,995
2.500% 1/15/29		902,109		941,559
3.375% 4/15/32		335,744		384,667
3.625% 4/15/28		1,704,128		1,859,119
3.875% 4/15/29		543,768		611,612
				73,389,051
TOTAL U.S. TREASURY OBLIGATIONS (Cost $82,575,928)				73,389,051
TOTAL BONDS & NOTES (Cost $274,504,953)				257,131,531

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
MUTUAL FUNDS — 0.4%
Diversified Financial Services — 0.4%
State Street Navigator Securities Lending Prime Portfolio (f)		1,107,700	$	1,107,700
TOTAL MUTUAL FUNDS (Cost $1,107,700)				1,107,700
TOTAL LONG-TERM INVESTMENTS (Cost $275,612,653)				258,239,231
	Principal Amount
SHORT-TERM INVESTMENTS — 11.7%
Commercial Paper — 11.4%
Amcor Flexibles North America, Inc.
5.165% 2/23/23 (a)	$	5,000,000		4,963,196
Fidelity National Information Services, Inc.
4.825% 1/06/23 (a)		5,400,000		5,395,202
Penske Truck Leasing Co. LP
4.778% 1/10/23		4,000,000		3,994,270
Spire, Inc.
5.021% 2/09/23 (a)		5,000,000		4,972,889
Suncor Energy, Inc.
5.340% 3/13/23 (a)		4,000,000		3,959,939
Tampa Electric Co.
4.826% 1/30/23 (a)		5,000,000		4,979,527
Walgreens Boots Alliance, Inc.
5.104% 2/06/23 (a)		5,000,000		4,974,577
				33,239,600

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (g)	$	914,953	$	914,953
TOTAL SHORT-TERM INVESTMENTS (Cost $34,153,203)				34,154,553
TOTAL INVESTMENTS — 100.1% (Cost $309,765,856) (h)				292,393,784
Other Assets/(Liabilities) — (0.1)%				(274,070)
NET ASSETS — 100.0%			$	292,119,714

Abbreviation Legend

FRN Floating Rate Note

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $194,803,883 or 66.69% of net assets.

(b) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2022.

(c) May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency.

(d) All or a portion of this security is pledged/held as collateral for open derivatives.

(e) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $1,085,921 or 0.37% of net assets. (Note 2).

(f) Represents investment of security lending cash collateral. (Note 2).

(g) Maturity value of $915,084. Collateralized by U.S. Government Agency obligations with a rate of 3.000%, maturity date of 6/30/24, and an aggregate market value, including accrued interest, of $933,278.

(h) See Note 3 for aggregate cost for federal tax purposes.

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Long Bond	3/22/23		14	$	1,788,796	$	(33,983)
Short
U.S. Treasury Ultra 10 Year	3/22/23		31	$	(3,713,533)	$	46,814
U.S. Treasury Ultra Bond	3/22/23		7		(969,227)		29,039
U.S. Treasury Note 2 Year	3/31/23		315		(64,539,572)		(60,038)
U.S. Treasury Note 5 Year	3/31/23		31		(3,369,427)		23,607
						$	39,422

Centrally Cleared Interest Rate Swaps
Paid by the Fund		Received by the Fund
Rate/ Reference	Frequency	Rate/ Reference		Frequency		Termination Date		Notional Amount		Value		Upfront Premium Paid/ (Received)		Unrealized Appreciation/ (Depreciation)
12-Month USD SOFR	Annually		Fixed 3.552%		Annually		12/07/24	USD	10,000,000	$	(171,118)	$	—	$	(171,118)
Fixed 2.620%	Maturity		U.S. Consumer Price Index		Maturity		12/13/24	USD	6,000,000		(2,804)		—		(2,804)
12-Month USD SOFR	Annually		Fixed 4.062%		Annually		12/22/24	USD	10,000,000		(74,547)		—		(74,547)
Fixed 2.494%	Maturity		U.S. Consumer Price Index		Maturity		12/23/24	USD	20,000,000		15,940		—		15,940
12-Month USD SOFR	Annually		Fixed 4.250%		Annually		5/01/25	USD	19,700,000		13,902		—		13,902
12-Month USD SOFR	Annually		Fixed 4.661%		Annually		5/08/25	USD	19,600,000		170,937		—		170,937
Fixed 3.082%	Annually		12-Month USD SOFR		Annually		12/07/32	USD	2,241,000		81,649		—		81,649
Fixed 3.352%	Annually		12-Month USD SOFR		Annually		12/22/32	USD	2,259,000		31,670		—		31,670
Fixed 3.713%	Annually		12-Month USD SOFR		Annually		5/01/33	USD	4,500,000		(90,729)		—		(90,729)
Fixed 3.905%	Annually		12-Month USD SOFR		Annually		5/08/33	USD	4,500,000		(163,249)		—		(163,249)
										$	(188,349)	$	—	$	(188,349)

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

OTC Total Return Swaps
Paid by the Fund		Received by the Fund
Rate/ Reference	Frequency	Rate/ Reference	Frequency	Counterparty	Termination Date	No. of Contracts/Notional		Value			Upfront Premium Received (Paid)/ Received		Unrealized Appreciation/ (Depreciation)
Fed Funds + 15.0 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Barclays PLC	5/31/23	57,029,328	$	(581,529	)	$	—	$	(581,529	)
Fed Funds + 9.0 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	BNP Paribas SA	1/31/23	4,038,655		(292,636	)		—		(292,636	)
Fed Funds + 8.5 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	BNP Paribas SA	2/28/23	19,954,732		(940,215	)		—		(940,215	)
Fed Funds + 9.0 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	BNP Paribas SA	2/28/23	46,365,568		365,887			—		365,887
Fed Funds + 8.0 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Goldman Sachs International	1/31/23	2,633,427		(190,815	)		—		(190,815	)
Fed Funds + 8.5 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Goldman Sachs International	2/28/23	31,473,123		(1,482,931	)		—		(1,482,931	)
Fed Funds + 7.0 BP	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Goldman Sachs International	4/28/23	46,114,736		363,908			—		363,908
							$	(2,758,331	)	$	—	$	(2,758,331	)

Currency Legend

USD   U.S. Dollar

MassMutual Core Bond Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 98.7%
CORPORATE DEBT — 38.3%
Aerospace & Defense — 0.4%
The Boeing Co.
5.150% 5/01/30	$	2,275,000	$	2,225,653
5.930% 5/01/60		710,000		650,928
				2,876,581
Agriculture — 1.0%
Altria Group, Inc.
5.800% 2/14/39		1,425,000		1,308,532
BAT Capital Corp.
3.462% 9/06/29		1,125,000		966,295
4.700% 4/02/27		1,355,000		1,300,679
4.758% 9/06/49		805,000		587,118
Imperial Brands Finance PLC
3.875% 7/26/29 (a)		1,627,000		1,391,056
Reynolds American, Inc.
5.850% 8/15/45		1,025,000		878,040
Viterra Finance BV
3.200% 4/21/31 (a)		1,540,000		1,167,238
				7,598,958
Airlines — 0.2%
Spirit Airlines Pass-Through Trust, Series 2015-1, Class A,
4.100% 10/01/29		1,054,871		940,115
United Airlines Pass-Through Trust, Series 2018-1, Class B,
4.600% 9/01/27		344,857		315,135
				1,255,250
Auto Manufacturers — 0.7%
General Motors Co.
5.150% 4/01/38		785,000		680,215
6.800% 10/01/27		1,995,000		2,073,731
General Motors Financial Co., Inc.
3.100% 1/12/32		1,815,000		1,427,194
Nissan Motor Co. Ltd.
4.345% 9/17/27 (a)		1,035,000		939,499
				5,120,639
Auto Parts & Equipment — 0.1%
Lear Corp.
3.550% 1/15/52		1,470,000		898,069
Banks — 7.2%
ABN AMRO Bank NV
4.750% 7/28/25 (a)		2,100,000		2,036,601

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Bank Hapoalim BM 5 year CMT + 2.155%
3.255% VRN 1/21/32 (a)	$	2,800,000	$	2,409,344
Bank of America Corp.
5 year CMT + 1.200% 2.482% VRN 9/21/36		2,930,000		2,160,174
5 year CMT + 2.000% 3.846% VRN 3/08/37		2,225,000		1,848,229
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29		615,000		574,529
6.110% 1/29/37		1,275,000		1,292,944
7.750% 5/14/38		1,055,000		1,231,942
The Bank of Nova Scotia 3 mo. USD LIBOR + 2.648%
6.567% VRN (b)		3,550,000		3,299,793
Barclays PLC
4.337% 1/10/28		1,600,000		1,489,046
5.200% 5/12/26		1,035,000		1,007,415
5 year CMT + 5.431% 8.000% VRN (b)		1,368,000		1,279,080
BPCE SA SOFR + 1.730%
3.116% VRN 10/19/32 (a)		2,080,000		1,524,112
Citigroup, Inc. 3 mo. USD LIBOR + 4.068%
5.950% VRN (b) (c)		865,000		856,566
Credit Suisse Group AG
SOFR + .980% 1.305% VRN 2/02/27 (a)		2,600,000		2,076,577
SOFR + 3.340% 6.373% VRN 7/15/26 (a)		1,738,000		1,632,989
Deutsche Bank AG SOFR + 1.318%
2.552% VRN 1/07/28		2,685,000		2,289,142
Discover Bank 5 year USD Swap + 1.730%
4.682% VRN 8/09/28		2,175,000		2,087,853
First Republic Bank
4.375% 8/01/46		1,970,000		1,503,282
The Goldman Sachs Group, Inc.
SOFR + 1.410% 3.102% VRN 2/24/33		1,550,000		1,262,958
6.750% 10/01/37		1,565,000		1,664,932
HSBC Holdings PLC
SOFR + 1.290% 1.589% VRN 5/24/27		2,151,000		1,857,332
SOFR + 1.285% 2.206% VRN 8/17/29		1,355,000		1,100,030
SOFR + 3.350% 7.390% VRN 11/03/28		765,000		802,833
JP Morgan Chase & Co.
SOFR + 2.515% 2.956% VRN 5/13/31		1,350,000		1,115,576
5.600% 7/15/41		1,225,000		1,231,208
Macquarie Bank Ltd. 5 year CMT + 1.700%
3.052% VRN 3/03/36 (a)		1,266,000		918,506
Mizrahi Tefahot Bank Ltd. 5 year CMT + 2.250%
3.077% VRN 4/07/31 (a)		3,585,000		3,141,356
Morgan Stanley
SOFR + 1.360% 2.484% VRN 9/16/36		1,410,000		1,025,902
SOFR + 2.620% 5.297% VRN 4/20/37		2,660,000		2,440,090
National Australia Bank Ltd. 5 year CMT + 1.700%
3.347% VRN 1/12/37 (a)		3,060,000		2,335,470
Toronto-Dominion Bank 5 year CMT + 4.075%
8.125% VRN 10/31/82		1,642,000		1,707,680
UBS Group AG 1 year CMT + 1.750%
4.751% VRN 5/12/28 (a)		1,525,000		1,461,490
				52,664,981
Beverages — 0.5%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
4.900% 2/01/46		2,000,000		1,833,070
Molson Coors Beverage Co.
4.200% 7/15/46		1,479,000		1,154,495

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.000% 5/01/42	$	350,000	$	312,212
				3,299,777
Chemicals — 0.6%
Celanese US Holdings LLC
6.050% 3/15/25		1,945,000		1,939,834
DuPont de Nemours, Inc.
5.319% 11/15/38		1,350,000		1,301,683
Syngenta Finance NV
4.441% 4/24/23 (a)		1,375,000		1,368,826
				4,610,343
Computers — 0.1%
Dell International LLC / EMC Corp.
8.100% 7/15/36		450,000		506,182
Diversified Financial Services — 3.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300% 1/30/32		4,560,000		3,578,105
Antares Holdings LP
2.750% 1/15/27 (a)		985,000		790,134
3.950% 7/15/26 (a)		2,725,000		2,359,495
8.500% 5/18/25 (a)		1,185,000		1,210,607
Ares Finance Co. III LLC 5 year CMT + 3.237%
4.125% VRN 6/30/51 (a)		1,875,000		1,415,625
Ares Finance Co. LLC
4.000% 10/08/24 (a)		2,380,000		2,272,696
Avolon Holdings Funding Ltd.
2.528% 11/18/27 (a)		2,970,000		2,377,667
3.250% 2/15/27 (a)		1,945,000		1,666,726
4.250% 4/15/26 (a)		3,296,000		2,992,983
5.500% 1/15/26 (a)		205,000		195,092
Blue Owl Finance LLC
3.125% 6/10/31 (a)		3,455,000		2,574,295
4.125% 10/07/51 (a)		1,875,000		1,110,113
Global Aircraft Leasing Co. Ltd.
6.500% 9/15/24 (a)		1,919,474		1,631,553
				24,175,091
Electric — 1.1%
The Cleveland Electric Illuminating Co.
5.950% 12/15/36		589,000		586,802
CMS Energy Corp.
4.700% 3/31/43		655,000		552,391
4.875% 3/01/44		700,000		639,706
Enel Finance International NV
5.000% 6/15/32 (a)		1,650,000		1,483,751
NextEra Energy Capital Holdings, Inc. 5 year CMT + 2.547%
3.800% VRN 3/15/82		1,275,000		1,040,364
Pacific Gas and Electric Co.
2.500% 2/01/31		1,035,000		808,736
PG&E Wildfire Recovery Funding LLC
4.674% 12/01/53		1,200,000		1,070,267

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Texas Electric Market Stabilization Funding N LLC
5.167% 2/01/52 (a)	$	2,000,000	$	1,913,763
				8,095,780
Entertainment — 0.2%
Warnermedia Holdings, Inc.
4.279% 3/15/32 (a)		2,080,000		1,715,730
Food — 0.8%
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
3.625% 1/15/32 (a)		4,750,000		3,847,500
Smithfield Foods, Inc.
2.625% 9/13/31 (a)		1,555,000		1,115,878
3.000% 10/15/30 (a)		1,208,000		920,454
				5,883,832
Gas — 0.4%
CenterPoint Energy Resources Corp.
6.625% 11/01/37		1,500,000		1,557,006
NiSource, Inc.
4.800% 2/15/44		1,350,000		1,198,895
				2,755,901
Insurance — 7.1%
Allianz SE 5 year CMT + 2.973%
3.500% VRN (a) (b)		4,400,000		3,685,781
Allstate Corp. 3 mo. USD LIBOR + 2.938%
5.750% VRN 8/15/53		3,220,000		3,026,800
American International Group, Inc. 3 mo. USD LIBOR + 2.868%
5.750% VRN 4/01/48		2,454,000		2,344,003
AmTrust Financial Services, Inc.
6.125% 8/15/23		4,330,000		4,176,323
Ascot Group Ltd.
4.250% 12/15/30 (a)		2,215,000		1,909,862
Athene Global Funding
2.673% 6/07/31 (a) (c)		3,080,000		2,384,664
AXIS Specialty Finance LLC 5 year CMT + 3.186%
4.900% VRN 1/15/40		1,670,000		1,369,400
Brighthouse Financial, Inc.
4.700% 6/22/47		1,525,000		1,124,483
5.625% 5/15/30		1,470,000		1,401,853
CNO Financial Group, Inc.
5.250% 5/30/29		2,801,000		2,676,892
Corebridge Financial, Inc. 5 year CMT + 3.846%
6.875% VRN 12/15/52 (a)		1,974,000		1,835,139
Enstar Finance LLC 5 year CMT + 5.468%
5.750% VRN 9/01/40		2,700,000		2,443,500
Enstar Group Ltd.
4.950% 6/01/29		2,050,000		1,883,260
Global Atlantic Fin Co.
3.125% 6/15/31 (a)		4,161,000		3,062,706
5 year CMT + 3.796% 4.700% VRN 10/15/51 (a) (c)		3,580,000		2,726,771
Hanwha Life Insurance Co. Ltd. 5 year CMT + 1.850%
3.379% VRN 2/04/32 (a)		2,585,000		2,155,338
Hill City Funding Trust
4.046% 8/15/41 (a)		4,055,000		2,807,829

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Jackson Financial, Inc.
3.125% 11/23/31	$	1,034,000	$	795,209
Liberty Mutual Group, Inc. 5 year CMT + 3.315%
4.125% VRN 12/15/51 (a)		1,225,000		997,885
MetLife Capital Trust IV
7.875% 12/15/67 (a)		925,000		999,100
Prudential Financial, Inc.
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43		1,300,000		1,277,250
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48		1,396,000		1,333,180
Sammons Financial Group, Inc.
3.350% 4/16/31 (a)		4,980,000		3,802,345
4.450% 5/12/27 (a)		80,000		74,708
4.750% 4/08/32 (a)		90,000		75,394
USF&G Capital I
8.500% 12/15/45 (a)		1,015,000		1,101,991
				51,471,666
Investment Companies — 1.6%
Ares Capital Corp.
2.150% 7/15/26		2,275,000		1,929,302
BlackRock TCP Capital Corp.
3.900% 8/23/24		1,137,000		1,086,295
Blackstone Private Credit Fund
1.750% 9/15/24		370,000		340,296
2.625% 12/15/26		3,660,000		3,033,552
Golub Capital BDC, Inc.
2.500% 8/24/26		1,165,000		990,321
3.375% 4/15/24		2,745,000		2,640,745
OWL Rock Core Income Corp.
4.700% 2/08/27		2,025,000		1,828,420
				11,848,931
Iron & Steel — 0.2%
Vale Overseas Ltd.
6.875% 11/21/36		1,100,000		1,161,251
Lodging — 0.3%
Las Vegas Sands Corp.
3.200% 8/08/24		2,305,000		2,190,219
Media — 0.7%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.900% 6/01/52		750,000		473,411
6.484% 10/23/45		1,905,000		1,725,231
Comcast Corp.
2.937% 11/01/56		1,244,000		775,234
3.969% 11/01/47		660,000		527,628
Discovery Communications LLC
4.000% 9/15/55		1,186,000		715,983
4.650% 5/15/50		705,000		486,178
Time Warner Cable, Inc.
6.750% 6/15/39		655,000		621,379
				5,325,044
Metal Fabricate & Hardware — 0.2%
The Timken Co.
4.500% 12/15/28		1,580,000		1,499,818

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Mining — 0.2%
Glencore Finance Canada Ltd.
5.550% STEP 10/25/42 (a)	$	857,000	$	773,751
Teck Resources Ltd.
6.000% 8/15/40		1,022,000		980,215
				1,753,966
Oil & Gas — 2.3%
BP Capital Markets PLC
5 year CMT + 4.036% 4.375% VRN (b)		2,675,000		2,554,625
5 year CMT + 4.398% 4.875% VRN (b)		1,540,000		1,347,500
Cenovus Energy, Inc.
6.750% 11/15/39		1,176,000		1,224,338
EQT Corp.
3.900% 10/01/27		1,870,000		1,726,828
7.000% STEP 2/01/30		1,965,000		2,037,941
Occidental Petroleum Corp.
6.600% 3/15/46		1,228,000		1,263,600
Ovintiv, Inc.
6.500% 8/15/34		1,110,000		1,121,434
6.500% 2/01/38		530,000		527,723
Patterson-UTI Energy, Inc.
3.950% 2/01/28		2,415,000		2,134,013
5.150% 11/15/29		1,350,000		1,212,562
Petroleos Mexicanos
5.350% 2/12/28		925,000		778,433
6.375% 1/23/45		640,000		396,561
6.500% 3/13/27		295,000		269,164
6.625% 6/15/38		202,000		138,028
				16,732,750
Oil & Gas Services — 0.5%
NOV, Inc.
3.600% 12/01/29		2,670,000		2,351,749
3.950% 12/01/42		1,778,000		1,246,835
				3,598,584
Pharmaceuticals — 0.8%
AbbVie, Inc.
4.700% 5/14/45		815,000		730,211
Cigna Corp.
4.800% 7/15/46		1,105,000		997,678
CVS Health Corp.
5.050% 3/25/48		370,000		333,774
6.125% 9/15/39		895,000		923,425
CVS Pass-Through Trust
5.926% 1/10/34 (a)		1,584,679		1,550,131
Utah Acquisition Sub, Inc.
5.250% 6/15/46		1,750,000		1,331,011
				5,866,230
Pipelines — 2.1%
Energy Transfer LP
6.125% 12/15/45		1,235,000		1,149,569
3 mo. USD LIBOR + 4.028% 6.250% VRN (b) (c)		2,635,000		2,239,750

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
EnLink Midstream Partners LP
4.850% 7/15/26	$	996,000	$	936,268
Enterprise Products Operating LLC 3 mo. USD LIBOR + 3.033%
5.250% VRN 8/16/77		2,550,000		2,054,666
MPLX LP 3 mo. USD LIBOR + 4.652%
6.875% VRN (b)		2,425,000		2,388,625
Plains All American Pipeline LP 3 mo. USD LIBOR + 4.110%
8.716% VRN (b)		2,590,000		2,227,400
Plains All American Pipeline LP/PAA Finance Corp.
3.800% 9/15/30		770,000		671,060
4.700% 6/15/44		1,525,000		1,163,269
6.650% 1/15/37		475,000		469,695
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
6.875% 1/15/29		1,692,000		1,707,217
				15,007,519
Private Equity — 0.4%
Apollo Management Holdings LP 5 year CMT + 3.266%
4.950% VRN 1/14/50 (a)		1,970,000		1,672,017
KKR Group Finance Co. VIII LLC
3.500% 8/25/50 (a)		920,000		619,739
KKR Group Finance Co. X LLC
3.250% 12/15/51 (a)		1,135,000		724,112
				3,015,868
Real Estate Investment Trusts (REITS) — 2.6%
Broadstone Net Lease LLC
2.600% 9/15/31		2,050,000		1,541,388
Global Net Lease, Inc./Global Net Lease Operating Partnership LP
3.750% 12/15/27 (a)		2,675,000		2,223,857
Host Hotels & Resorts LP
2.900% 12/15/31		640,000		491,255
3.500% 9/15/30		2,756,000		2,281,165
Invitation Homes Operating Partnership LP
4.150% 4/15/32		520,000		456,484
Kimco Realty Corp.
4.125% 12/01/46		855,000		630,585
4.450% 9/01/47		1,055,000		818,079
Omega Healthcare Investors, Inc.
3.375% 2/01/31		1,800,000		1,389,564
Piedmont Operating Partnership LP
2.750% 4/01/32		1,155,000		811,242
Rexford Industrial Realty LP
2.125% 12/01/30		1,175,000		920,057
Service Properties Trust
4.500% 6/15/23		953,000		936,505
4.950% 10/01/29		1,445,000		998,638
Spirit Realty LP
2.700% 2/15/32		715,000		530,856
3.200% 1/15/27		425,000		377,398
3.400% 1/15/30		490,000		408,087
4.000% 7/15/29		2,405,000		2,096,465
WEA Finance LLC
2.875% 1/15/27 (a)		2,150,000		1,842,730
				18,754,355

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Software — 0.4%
Electronic Arts, Inc.
2.950% 2/15/51	$	1,150,000	$	747,696
Microsoft Corp.
2.921% 3/17/52		1,560,000		1,114,338
Oracle Corp.
6.900% 11/09/52		691,000		745,814
				2,607,848
Telecommunications — 1.7%
AT&T, Inc.
3.550% 9/15/55		4,675,000		3,133,390
British Telecommunications PLC
9.625% STEP 12/15/30		725,000		870,485
Crown Castle Towers LLC
4.241% 7/15/48 (a)		1,750,000		1,592,418
Sprint Capital Corp.
8.750% 3/15/32		3,150,000		3,748,815
Verizon Communications, Inc.
2.987% 10/30/56		2,599,000		1,596,228
Vodafone Group PLC
5.250% 5/30/48		1,245,000		1,103,170
				12,044,506
Venture Capital — 0.6%
Hercules Capital, Inc.
2.625% 9/16/26		3,662,000		3,092,330
3.375% 1/20/27		1,415,000		1,214,788
				4,307,118
TOTAL CORPORATE DEBT (Cost $327,623,593)				278,642,787
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 27.3%
Commercial Mortgage-Backed Securities — 8.7%
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350%
5.668% FRN 9/15/34 (a)		760,000		727,760
BANK, Series 2020-BN30, Class MCDF,
2.918% VRN 12/15/53 (d)		3,165,000		2,003,436
BBCMS Mortgage Trust
Series 2018-CHRS, Class B, 4.267% VRN 8/05/38 (a) (d)		2,200,000		1,836,394
Series 2018-CHRS, Class C, 4.267% VRN 8/05/38 (a) (d)		1,590,000		1,344,295
Series 2018-CHRS, Class D, 4.267% VRN 8/05/38 (a) (d)		1,220,000		969,240
Benchmark Mortgage Trust
Series 2021-B23, Class 360A, 2.760% VRN 2/15/54 (a) (d)		3,150,000		2,315,755
Series 2021-B23, Class 360B, 2.760% VRN 2/15/54 (a) (d)		4,800,000		3,257,777
Series 2021-B25, Class 300C, 2.994% VRN 4/15/54 (a) (d)		3,100,000		2,195,442
BGME Trust
Series 2021-VR, Class C, 2.995% VRN 1/10/43 (a) (d)		16,248,000		12,743,586
Series 2021-VR, Class D, 2.995% VRN 1/10/43 (a) (d)		3,790,000		2,878,968
BX Commercial Mortgage Trust, Series 2021-VOLT, Class E, 1 mo. USD LIBOR + 2.000%
6.318% FRN 9/15/36 (a)		5,343,000		4,970,638

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class C
3.502% 8/10/56	$	1,259,000	$	957,679
COLEM Mortgage Trust, Series 2022-HLNE,
2.461% VRN 4/12/42 (a) (d)		1,900,000		1,430,326
Commercial Mortgage Pass-Through Certificates
Series 2015-CR23, Class B, 4.183% VRN 5/10/48 (d)		1,200,000		1,122,766
Series 2015-CR23, Class C, 4.301% VRN 5/10/48 (d)		1,050,000		969,446
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class E, 1 mo. USD LIBOR + 2.150%
6.468% FRN 5/15/36 (a)		750,000		725,669
DROP Mortgage Trust
Series 2021-FILE, Class C, 1 mo. USD LIBOR + 2.250% 6.570% FRN 10/15/43 (a)		3,365,000		3,045,493
Series 2021-FILE, Class D, 1 mo. USD LIBOR + 2.750% 7.070% FRN 10/15/43 (a)		1,162,000		1,028,267
GS Mortgage Securities Trust, Series 2019-GC39, Class C,
4.005% VRN 5/10/52 (d)		1,357,000		1,092,528
KIND Trust, Series 2021-KIND, Class C, 1 mo. USD LIBOR + 1.750%
6.068% FRN 8/15/38 (a)		3,077,756		2,836,699
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
6.118% FRN 5/15/36 (a)		1,730,000		1,683,589
Life Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750%
6.068% FRN 3/15/38 (a)		2,505,591		2,371,065
MFT Trust
Series 2020-ABC, Class A, 3.358% 2/10/42 (a)		1,185,000		917,376
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (a) (d)		1,278,000		949,173
MKT Mortgage Trust
Series 2020-525M, Class D, 2.941% VRN 2/12/40 (a) (d)		595,000		371,590
Series 2020-525M, Class E, 2.941% VRN 2/12/40 (a) (d)		1,220,000		697,183
VASA Trust, Series 2021-VASA, Class D, 1 mo. USD LIBOR + 2.100%
6.418% FRN 7/15/39 (a)		4,879,000		4,420,817
Wells Fargo Commercial Mortgage Trust
Series 2018-C45, Class B, 4.556% 6/16/51		390,000		338,820
Series 2021-FCMT, Class B, 1 mo. USD LIBOR + 1.850% 6.168% FRN 5/15/31 (a)		3,000,000		2,776,769
				62,978,546
Other Asset-Backed Securities — 13.1%
522 Funding CLO Ltd., Series 2018-3A, Class CR, 3 mo. USD LIBOR + 2.050%
6.293% FRN 10/20/31 (a)		1,250,000		1,173,177
AASET Trust
Series 2020-1A, Class A, 3.351% 1/16/40 (a)		992,863		795,314
Series 2021-2A, Class B, 3.538% 1/15/47 (a)		1,120,946		817,737
Anchorage Capital CLO 9 Ltd., Series 2016-9A, Class CR2, 3 mo. USD LIBOR + 2.250%
6.329% FRN 7/15/32 (a)		830,000		782,584
Apidos CLO XXV, Series 2016-25A, Class A2R, 3 mo. USD LIBOR + 1.700%
5.943% FRN 10/20/31 (a)		2,610,000		2,526,000
Ballyrock CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 3.150%
7.825% FRN 11/20/30 (a)		800,000		753,222
Benefit Street Partners CLO V-B Ltd., Series 2018-5BA, Class A1A, 3 mo. USD LIBOR + 1.090%
5.333% FRN 4/20/31 (a)		1,920,000		1,896,186

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A
2.940% 5/25/29 (a)	$	230,591	$	224,193
Business Jet Securities LLC, Series 2021-1A, Class C
5.067% 4/15/36 (a)		984,626		864,049
Canyon Capital CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 2.150%
6.229% FRN 10/15/34 (a)		800,000		741,953
Capital Automotive REIT
Series 2020-1A, Class A3, 3.250% 2/15/50 (a)		556,429		486,971
Series 2020-1A, Class A6, 3.810% 2/15/50 (a)		489,200		426,680
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A
3.967% 4/15/39 (a)		644,309		544,527
CBAM Ltd., Series 2018-6A, Class B1R, 3 mo. TSFR + 2.362%
6.225% FRN 1/15/31 (a)		1,200,000		1,173,223
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 3 mo. USD LIBOR + .980%
5.223% FRN 4/20/31 (a)		1,000,000		984,880
Eaton Vance CLO Ltd.
Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.750% 5.829% FRN 10/15/30 (a)		1,700,000		1,641,602
Series 2020-1A, Class CR, 3 mo. USD LIBOR + 2.050% 6.129% FRN 10/15/34 (a)		400,000		358,670
Elmwood CLO III Ltd., Series 2019-3A, Class BR, 3 mo. USD LIBOR + 1.650%
5.893% FRN 10/20/34 (a)		1,300,000		1,247,121
Elmwood CLO IV Ltd., Series 2020-1A, Class A, 3 mo. USD LIBOR + 1.240%
5.319% FRN 4/15/33 (a)		1,000,000		983,691
FCI Funding LLC, Series 2019-1A, Class A
3.630% 2/18/31 (a)		21,268		21,248
Flexential Issuer
Series 2021-1A, Class B, 3.720% 11/27/51 (a)		4,000,000		3,430,100
Series 2021-1A, Class C, 6.930% 11/27/51 (a)		4,000,000		3,282,830
Goldentree Loan Management US CLO Ltd., Series 2019-5A, Class CR, 3 mo. USD LIBOR + 2.050%
6.293% FRN 10/20/32 (a)		800,000		756,120
Goodgreen Trust
Series 2019-2A, Class A, 2.760% 4/15/55 (a)		2,279,874		1,963,117
Series 2016-1A, Class A, 3.230% 10/15/52 (a)		899,317		816,893
Series 2017-1A, Class A, 3.740% 10/15/52 (a)		433,574		402,106
Series 2019-1A, Class A, 3.860% 10/15/54 (a)		900,029		836,135
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (a) (d)		1,149,591		1,058,517
Hero Funding Trust
Series 2016-3A, Class A1, 3.080% 9/20/42 (a)		386,577		361,698
Series 2017-3A, Class A1, 3.190% 9/20/48 (a)		431,809		393,880
Series 2017-2A, Class A1, 3.280% 9/20/48 (a)		128,198		118,681
Series 2016-4A, Class A1, 3.570% 9/20/47 (a)		409,735		387,972
Series 2017-2A, Class A2, 4.070% 9/20/48 (a)		103,061		96,038
Series 2018-1A, Class A2, 4.670% 9/20/48 (a)		756,991		719,190
Highbridge Loan Management Ltd., Series 13A-18, Class C, 3 mo. USD LIBOR + 2.150%
6.229% FRN 10/15/30 (a)		1,000,000		937,310
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A
4.458% 12/15/38 (a)		995,711		815,487
Horizon Aircraft Finance II Ltd, Series 2019-1, Class A
3.721% 7/15/39 (a)		1,296,496		1,019,861
Horizon Aircraft Finance III Ltd., Series 2019-2, Class A
3.425% 11/15/39 (a)		3,312,713		2,556,066

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
KREF Ltd.
Series 2021-FL2, Class B, 1 mo. USD LIBOR + 1.650% 5.976% FRN 2/15/39 (a)	$	3,500,000	$	3,260,902
Series 2021-FL2, Class C, 1 mo. USD LIBOR + 2.000% 6.326% FRN 2/15/39 (a)		5,800,000		5,346,322
Series 2021-FL2, Class D, 1 mo. USD LIBOR + 2.200% 6.526% FRN 2/15/39 (a)		3,200,000		2,948,759
Labrador Aviation Finance Ltd., Series 2016-1A, Class A1
4.300% 1/15/42 (a)		1,760,237		1,386,257
MACH 1 Cayman Ltd., Series 2019-1, Class A
3.474% 10/15/39 (a)		1,884,047		1,522,891
Madison Park Funding Ltd.
Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 5.679% FRN 7/15/30 (a)		2,090,000		2,034,272
Series 2018-32A, Class CR, 3 mo. USD LIBOR + 2.000% 6.325% FRN 1/22/31 (a)		1,750,000		1,643,327
Series 2018-29A, Class C, 3 mo. USD LIBOR + 2.200% 6.394% FRN 10/18/30 (a)		680,000		645,223
Mariner Finance Issuance Trust
Series 2021-AA, Class B, 2.330% 3/20/36 (a)		1,771,000		1,453,047
Series 2021-AA, Class C, 2.960% 3/20/36 (a)		835,000		683,945
Mosaic Solar Loans LLC
Series 2017-2A, Class A, 3.820% 6/22/43 (a)		347,881		319,754
Series 2018-1A, Class A, 4.010% 6/22/43 (a)		157,578		143,645
Series 2017-1A, Class A, 4.450% 6/20/42 (a)		152,440		145,956
Neuberger Berman Loan Advisers CLO Ltd., Series 2015-45A, Class B, 3 mo. USD LIBOR + 1.650%
5.661% FRN 10/14/35 (a)		1,350,000		1,298,499
New Residential Advance Receivables Trust, Series 2020-T1, Class ET1
5.467% 8/15/53 (a)		2,495,000		2,377,459
Octagon Investment Partners 39 Ltd., Series 2018-3A, Class C, 3 mo. USD LIBOR + 2.200%
6.443% FRN 10/20/30 (a)		1,180,000		1,129,667
Parallel Ltd., Series 2021-2A, Class A2, 3 mo. USD LIBOR + 1.850%
6.093% FRN 10/20/34 (a)		550,000		520,589
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A
3.967% 6/15/44 (a)		1,498,860		1,191,057
Rad CLO 12 Ltd., Series 2021-12A, Class A, 3 mo. USD LIBOR + 1.170%
5.585% FRN 10/30/34 (a)		2,000,000		1,944,384
Rad CLO 15 Ltd., Series 2021-15A, Class C, 3 mo. USD LIBOR + 2.050%
6.293% FRN 1/20/34 (a)		1,000,000		935,209
Regatta XIV Funding Ltd., Series 2018-3A, Class B, 3 mo. USD LIBOR + 1.850%
6.208% FRN 10/25/31 (a)		1,030,000		991,924
Sierra Receivables Funding LLC
Series 2021-1A, Class D, 3.170% 11/20/37 (a)		821,170		757,931
Series 2018-3A, Class D, 5.200% 9/20/35 (a)		356,528		349,892
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300%
6.974% FRN 8/18/31 (a)		1,660,000		1,536,655
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + 1.200%
5.589% FRN 11/25/35 (a)		513,737		498,544
Structured Receivables Finance LLC, Series 2010-B, Class A
3.730% 8/15/36 (a)		97,453		93,507
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A
4.870% 7/20/48 (a)		571,410		505,383

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A
4.190% 1/15/71 (a)	$	1,653,898	$	1,463,118
THL Credit Wind River CLO Ltd., Series 2018-3A, Class B, 3 mo. USD LIBOR + 1.700%
5.943% FRN 1/20/31 (a)		2,440,000		2,343,530
Thrust Engine Leasing, Series 2021-1A, Class A
4.163% 7/15/40 (a)		3,502,749		2,575,823
Thrust Engine Leasing DAC
Series 2021-1A, Class B, 6.121% 7/15/40 (a)		1,591,546		1,123,356
Series 2021-1A, Class C, 7.386% 7/15/40 (a)		1,105,878		801,877
TICP CLO XIV Ltd., Series 2019-14A, Class A2R, 3 mo. USD LIBOR + 1.650%
5.893% FRN 10/20/32 (a)		1,100,000		1,065,159
TICP CLO XV Ltd., Series 2020-15A, Class A, 3 mo. USD LIBOR + 1.280%
5.523% FRN 4/20/33 (a)		4,200,000		4,135,942
Vivint Solar Financing V LLC, Series 2018-1A, Class B
7.370% 4/30/48 (a)		1,914,956		1,758,224
Voya CLO Ltd., Series 2015-3A, Class A3R, 3 mo. USD LIBOR + 1.700%
5.943% FRN 10/20/31 (a)		1,500,000		1,428,844
WAVE LLC
Series 2019-1A, Class A, 3.597% 9/15/44 (a)		4,149,747		3,142,391
Series 2017-1A, Class A, 3.844% 11/15/42 (a)		299,586		226,190
Series 2017-1A, Class C, 6.656% 11/15/42 (a)		2,062,759		578,774
Willis Engine Structured Trust IV, Series 2018-A, Class A,
4.750% STEP 9/15/43 (a)		1,009,195		805,936
				95,509,193
Student Loans Asset-Backed Securities — 2.9%
College Avenue Student Loans LLC
Series 2019-A, Class B, 3.810% 12/28/48 (a)		1,633,477		1,511,213
Series 2019-A, Class C, 4.460% 12/28/48 (a)		1,091,909		1,018,883
Education Loan Asset-Backed Trust I
Series 2003-1, Class A2, 0.000% FRN 2/01/43 (a) (d)		1,300,000		1,201,795
Series 2003-2, Class 2A1, 0.000% FRN 8/01/43 (a) (d)		1,950,000		1,811,102
Series 2013-1, Class B1, 1 mo. USD LIBOR + 1.000% 5.389% FRN 11/25/33 (a)		699,429		673,055
Higher Education Funding I
Series 2004-1, Class B2, 0.000% FRN 1/01/44 (a) (d)		600,000		523,928
Series 2004-1, Class B1, 4.161% FRN 1/01/44 (a) (d)		600,000		540,413
Laurel Road Prime Student Loan Trust, Series 2017-B, Class BFX
3.020% 8/25/42 (a)		538,731		436,830
Navient Student Loan Trust
Series 2018-EA, Class B, 4.440% 12/15/59 (a)		730,000		679,832
Series 2015-3, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 10/25/58		1,200,000		1,041,856
Nelnet Student Loan Trust
Series 2019-5, Class B, 3.450% 10/25/67 (a)		2,850,000		2,252,951
Series 2014-3A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 10/25/50 (a)		975,000		919,115
Series 2015-2A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 5/26/54 (a)		1,130,000		1,104,442
Series 2014-5A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 5/26/54 (a)		1,300,000		1,151,389
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 6/25/54 (a)		1,100,000		1,035,792
SLC Student Loan Trust, Series 2005-1, Class B, 3 mo. USD LIBOR + .200%
4.850% FRN 2/15/45		1,079,205		955,470

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SLM Student Loan Trust
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 4.568% FRN 10/25/40	$	1,554,780	$	1,453,295
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 4.668% FRN 1/25/55		1,009,254		921,442
SoFi Alternative Trust, Series 2019-C, Class PT,
5.188% VRN 1/25/45 (a) (d)		2,351,540		2,171,412
				21,404,215
Whole Loan Collateral Collateralized Mortgage Obligations — 2.6%
Bank of America Mortgage Securities, Series 2004-G, Class 2A7,
3.961% VRN 8/25/34 (d)		28,248		26,575
CSMC, Series 2021-NQM3, Class M1,
2.317% VRN 4/25/66 (a) (d)		1,670,000		921,508
Flagstar Mortgage Trust, Series 2021-6INV, Class A18,
2.500% VRN 8/25/51 (a) (d)		4,714,052		3,633,872
JP Morgan Mortgage Trust, Series 2017-1, Class A11,
3.449% VRN 1/25/47 (a) (d)		519,677		446,282
New Residential Mortgage Loan Trust, Series 2021-INV1, Class A4,
2.500% VRN 6/25/51 (a) (d)		2,818,013		2,177,575
NewRez Warehouse Securitization Trust, Series 2021-1, Class D, 1 mo. USD LIBOR + 1.400%
5.789% FRN 5/25/55 (a)		3,340,000		3,226,927
NMLT Trust, Series 2021-INV1, Class M1,
2.711% VRN 5/25/56 (a) (d)		3,723,000		2,278,547
Sequoia Mortgage Trust, Series 2018-CH2, Class A3,
4.000% VRN 6/25/48 (a) (d)		215,698		196,090
STAR Trust, Series 2021-1, Class M1,
2.363% VRN 5/25/65 (a) (d)		5,273,000		3,484,223
Starwood Mortgage Residential Trust, Series 2021-3, Class M1,
2.491% VRN 6/25/56 (a) (d)		1,840,000		1,069,144
Verus Securitization Trust, Series 2021-R3, Class M1,
2.411% VRN 4/25/64 (a) (d)		1,491,000		1,069,429
Wells Fargo Mortgage Backed Securities Trust, Series 2019-1, Class A1,
3.940% VRN 11/25/48 (a) (d)		41,476		39,281
				18,569,453
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $232,637,537)				198,461,407
SOVEREIGN DEBT OBLIGATION — 0.3%
Mexico Government International Bond
4.750% 3/08/44		3,028,000		2,440,643
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $3,041,308)				2,440,643
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (e) — 25.6%
Collateralized Mortgage Obligations — 0.0%
Federal Home Loan Mortgage Corp. Series 2178, Class PB 7.000% 8/15/29		66,098		67,892
Pass-Through Securities — 25.6%
Federal Home Loan Mortgage Corp.
Pool #RA4245 2.000% 12/01/50		4,510,634		3,727,631
Pool #RA4255 2.000% 1/01/51		9,382,664		7,756,856
Pool #RA5576 2.500% 7/01/51		7,667,042		6,576,365
Pool #SD0905 3.000% 3/01/52		3,701,203		3,285,698
Pool #RA2483 3.500% 6/01/50		5,443,239		5,020,421

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #Z40047 4.000% 10/01/41	$	72,167	$	70,071
Pool #SD1523 4.000% 8/01/52		5,158,329		4,885,869
Pool #SD1603 4.000% 9/01/52		3,244,116		3,054,516
Federal National Mortgage Association
Pool #FM8596 2.500% 9/01/51		2,416,750		2,070,688
Pool #FS3035 2.500% 4/01/52		8,487,606		7,292,134
Pool #MA3029 3.000% 6/01/32		1,789,135		1,703,996
Pool #MA3090 3.000% 8/01/32		602,024		572,623
Pool #FS1075 3.000% 3/01/52		3,763,830		3,342,471
Pool #CB3304 3.000% 4/01/52		5,652,983		5,020,133
Pool #CB3305 3.000% 4/01/52		6,672,822		5,917,460
Pool #775539 12 mo. USD LIBOR + 1.641% 3.391% FRN 5/01/34		41,545		41,777
Pool #AS1304 3.500% 12/01/28		487,359		473,216
Pool #MA1356 3.500% 2/01/43		3,614,746		3,366,719
Pool #CA6096 3.500% 6/01/50		7,087,706		6,510,569
Pool #FM4017 3.500% 8/01/50		379,984		350,230
Pool #CB3842 3.500% 6/01/52		10,602,904		9,725,451
Pool #CA1909 4.500% 6/01/48		2,240,780		2,197,519
Pool #CB3866 4.500% 6/01/52		5,885,960		5,724,959
Pool #CB4129 4.500% 7/01/52		5,251,051		5,087,726
Pool #AD6437 5.000% 6/01/40		213,815		216,567
Pool #AD6996 5.000% 7/01/40		1,342,799		1,360,833
Pool #AL8173 5.000% 2/01/44		454,612		463,008
Government National Mortgage Association
Pool #781038 6.500% 5/15/29		20,453		20,993
Pool #781468 6.500% 7/15/32		1,528		1,592
Pool #781496 6.500% 9/15/32		7,189		7,459
Pool #345964 7.000% 11/15/23		6		6
Pool #380866 7.000% 3/15/24		114		114
Pool #781124 7.000% 12/15/29		2,726		2,819
Pool #781319 7.000% 7/15/31		52,779		55,014
Pool #581417 7.000% 7/15/32		8,480		8,748
Pool #565982 7.000% 7/15/32		11,130		11,718
Pool #357262 7.500% 9/15/23		68		68
Pool #441009 8.000% 11/15/26		406		419
Pool #522777 8.000% 12/15/29		3,221		3,361
Pool #523043 8.000% 3/15/30		111		116
Pool #529134 8.000% 3/15/30		1,187		1,257
Pool #477036 8.000% 4/15/30		125		132
Pool #503157 8.000% 4/15/30		10,132		10,718
Pool #528714 8.000% 4/15/30		938		995
Pool #544640 8.000% 11/15/30		8,159		8,671
Pool #531298 8.500% 8/15/30		574		605
Government National Mortgage Association II
Pool #MA6038 3.000% 7/20/49		2,841,609		2,568,696
Pool #MA6283 3.000% 11/20/49		5,094,346		4,601,893
Pool #MA6409 3.000% 1/20/50		5,292,138		4,777,258
Pool #MA4321 3.500% 3/20/47		3,165,996		2,961,614
Government National Mortgage Association II TBA
3.000% 1/23/53 (f)		4,100,000		3,658,930
3.500% 1/23/53 (f)		5,280,000		4,858,838
4.500% 1/23/53 (f)		2,000,000		1,942,969
Uniform Mortgage Backed Securities TBA
2.500% 12/25/51 (f)		19,825,000		16,845,055
3.000% 2/25/52 (f)		11,225,000		9,882,384
3.500% 4/25/52 (f)		2,150,000		1,958,684
4.000% 6/25/52 (f)		16,075,000		15,115,523
4.500% 7/25/52 (f)		15,225,000		14,694,503

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.000% 7/25/52 (f)	$	6,575,000	$	6,489,730
				186,306,388
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $198,681,588)				186,374,280
U.S. TREASURY OBLIGATIONS — 7.2%
U.S. Treasury Bonds & Notes — 7.2%
U.S. Treasury Bond
2.250% 8/15/49 (g)		36,000,000		25,601,152
3.500% 2/15/39		6,800,000		6,424,924
U.S. Treasury Note
1.875% 2/28/27		9,000,000		8,254,751
3.000% 7/31/24		12,100,000		11,805,221
				52,086,048
TOTAL U.S. TREASURY OBLIGATIONS (Cost $61,058,528)				52,086,048
TOTAL BONDS & NOTES (Cost $823,042,554)				718,005,165
	Number of Shares
MUTUAL FUNDS — 0.4%
Diversified Financial Services — 0.4%
State Street Navigator Securities Lending Government Money Market Portfolio (h)		3,094,650		3,094,650
TOTAL MUTUAL FUNDS (Cost $3,094,650)				3,094,650
TOTAL LONG-TERM INVESTMENTS (Cost $826,137,204)				721,099,815

	Principal Amount
SHORT-TERM INVESTMENTS — 11.2%
Commercial Paper — 10.2%
Amcor Flexibles North America, Inc.
5.165% 2/23/23 (a)	$	4,000,000	3,970,557
5.166% 2/21/23 (a)		4,000,000	3,971,651
Evergy Kansas Central, Inc.
5.156% 2/02/23 (a)		7,000,000	6,968,736
Mohawk Industries, Inc.
4.880% 1/06/23 (a)		7,000,000	6,993,780
Spire, Inc.
5.021% 2/09/23 (a)		2,000,000	1,989,156
Suncor Energy, Inc.
5.340% 3/13/23 (a)		10,000,000	9,899,848
Tampa Electric Co.
5.238% 2/21/23 (a)		5,000,000	4,963,717
TransCanada PipeLines Ltd.
5.342% 3/09/23 (a)		5,000,000	4,952,869

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Royal Bank of Canada, 5.342% 3/21/23 (a)	$	5,000,000	$	4,943,953
Vulcan Materials Co.
4.971% 1/24/23 (a)		3,000,000		2,990,002
Walgreens Boots Alliance, Inc.
5.045% 1/26/23 (a)		5,000,000		4,982,142
5.104% 2/06/23 (a)		10,000,000		9,949,154
Waste Management, Inc.
5.010% 2/08/23 (a)		8,000,000		7,958,044
				74,533,609
Repurchase Agreement — 1.0%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (i)		7,252,583		7,252,583
TOTAL SHORT-TERM INVESTMENTS (Cost $81,774,955)				81,786,192
TOTAL INVESTMENTS — 110.3% (Cost $907,912,159) (j)				802,886,007
Other Assets/(Liabilities) — (10.3)%				(74,949,962)
NET ASSETS — 100.0%			$	727,936,045

Abbreviation Legend

CLO Collateralized Loan Obligation

FRN Floating Rate Note

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $354,727,097 or 48.73% of net assets.

(b) Security is perpetual and has no stated maturity date.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $3,034,588 or 0.42% of net assets. The Fund received $5,886 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(d) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2022.

(e) May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency.

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

(g) All or a portion of this security is pledged/held as collateral for open derivatives.

(h) Represents investment of security lending cash collateral. (Note 2).

(i) Maturity value of $7,253,615. Collateralized by U.S. Government Agency obligations with a rate of 0.000%, maturity date of 6/29/23, and an aggregate market value, including accrued interest, of $7,397,714.

(j) See Note 3 for aggregate cost for federal tax purposes.

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Long Bond	3/22/23		181	$	22,692,969	$	(5,750)
U.S. Treasury Ultra Bond	3/22/23		123		16,422,569		97,869
U.S. Treasury Note 2 Year	3/31/23		488		100,062,614		15,511
U.S. Treasury Note 5 Year	3/31/23		183		19,748,851		2,282
						$	109,912
Short
U.S. Treasury Ultra 10 Year	3/22/23		192	$	(22,743,031)	$	33,031

MassMutual Diversified Bond Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 0.7%
PREFERRED STOCK — 0.7%
Financial — 0.7%
Insurance — 0.7%
Equitable Holdings, Inc.
4.300%		45,600	$	806,664
Selective Insurance Group, Inc.
4.600%		18,825		315,319
				1,121,983
TOTAL PREFERRED STOCK (Cost $1,610,625)				1,121,983
TOTAL EQUITIES (Cost $1,610,625)				1,121,983
	Principal Amount
BONDS & NOTES — 93.9%
CORPORATE DEBT — 44.7%
Aerospace & Defense — 0.4%
The Boeing Co.
5.930% 5/01/60	$	140,000		128,352
TransDigm, Inc.
5.500% 11/15/27		250,000		234,610
6.375% 6/15/26		225,000		218,586
				581,548
Agriculture — 0.9%
BAT Capital Corp.
4.700% 4/02/27		510,000		489,555
4.758% 9/06/49		165,000		120,341
Imperial Brands Finance PLC
3.875% 7/26/29 (a)		545,000		465,965
Reynolds American, Inc.
5.850% 8/15/45		150,000		128,494
Viterra Finance BV
3.200% 4/21/31 (a)		280,000		212,225
				1,416,580
Airlines — 0.3%
Alaska Airlines Pass Through Trust, 2020-1 Class A,
4.800% 2/15/29 (a)		380,294		362,358

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
United Airlines Pass-Through Trust, Series 2018-1, Class B,
4.600% 9/01/27	$	63,276	$	57,823
				420,181
Auto Manufacturers — 0.6%
General Motors Co.
5.150% 4/01/38		230,000		199,299
5.200% 4/01/45		225,000		184,187
6.800% 10/01/27		335,000		348,220
Nissan Motor Co. Ltd.
4.345% 9/17/27 (a)		223,000		202,424
				934,130
Auto Parts & Equipment — 0.1%
Lear Corp.
3.550% 1/15/52		305,000		186,334
Banks — 7.1%
Bank Hapoalim BM 5 year CMT + 2.155%
3.255% VRN 1/21/32 (a)		600,000		516,288
Bank of America Corp.
5 year CMT + 1.200% 2.482% VRN 9/21/36		380,000		280,159
5 year CMT + 2.000% 3.846% VRN 3/08/37		460,000		382,106
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29		200,000		186,839
6.110% 1/29/37		190,000		192,674
7.750% 5/14/38		125,000		145,965
The Bank of Nova Scotia 3 mo. USD LIBOR + 2.648%
6.567% VRN (b)		575,000		534,473
Barclays PLC
5 year CMT + 3.410% 4.375% VRN (b)		375,000		285,937
5.200% 5/12/26		410,000		399,073
5 year CMT + 5.431% 8.000% VRN (b)		290,000		271,150
BNP Paribas SA 5 year CMT + 3.340%
4.625% VRN (a) (b)		375,000		289,726
BPCE SA SOFR + 1.730%
3.116% VRN 10/19/32 (a)		450,000		329,736
Citigroup, Inc. 3 mo. USD LIBOR + 4.068%
5.950% VRN (b)		185,000		183,196
Credit Suisse Group AG
SOFR + .980% 1.305% VRN 2/02/27 (a)		550,000		439,276
SOFR + 3.340% 6.373% VRN 7/15/26 (a)		375,000		352,342
Danske Bank A/S 7 year USD Swap + 3.896%
6.125% VRN (a) (b)		425,000		404,812
First Republic Bank
4.375% 8/01/46		210,000		160,248
The Goldman Sachs Group, Inc.
5.150% 5/22/45		290,000		262,055
6.750% 10/01/37		165,000		175,536
HSBC Holdings PLC
6.500% 9/15/37		125,000		120,507
7.350% 11/27/32		415,000		391,955
SOFR + 3.350% 7.390% VRN 11/03/28		225,000		236,127
Huntington Bancshares, Inc. 3 mo. USD LIBOR + 2.880%
5.700% VRN (b)		510,000		471,919
JP Morgan Chase & Co.
SOFR + 2.515% 2.956% VRN 5/13/31		235,000		194,193
4.950% 6/01/45		170,000		152,411

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Macquarie Bank Ltd. 5 year CMT + 1.700%
3.052% VRN 3/03/36 (a)	$	550,000	$	399,035
Mizrahi Tefahot Bank Ltd. 5 year CMT + 2.250%
3.077% VRN 4/07/31 (a)		1,225,000		1,073,406
Morgan Stanley
SOFR + 1.360% 2.484% VRN 9/16/36		280,000		203,725
SOFR + 1.485% 3.217% VRN 4/22/42		310,000		229,879
SOFR + 2.620% 5.297% VRN 4/20/37		185,000		169,706
Nordea Bank Abp 5 year CMT + 4.110%
6.625% VRN (a) (b)		275,000		270,067
Standard Chartered PLC 5 year CMT + 3.805%
4.750% VRN (a) (b)		550,000		421,155
SVB Financial Group
10 year CMT + 3.064% 4.100% VRN (b)		210,000		120,187
5 year CMT + 3.074% 4.250% VRN (b)		590,000		387,069
Toronto-Dominion Bank 5 year CMT + 4.075%
8.125% VRN 10/31/82		358,000		372,320
UBS Group AG 1 year CMT + 1.750%
4.751% VRN 5/12/28 (a)		325,000		311,465
				11,316,717
Beverages — 0.6%
Anheuser-Busch InBev Worldwide, Inc.
8.200% 1/15/39		250,000		311,994
Bacardi Ltd.
5.150% 5/15/38 (a)		200,000		181,597
Molson Coors Beverage Co.
4.200% 7/15/46		366,000		285,697
5.000% 5/01/42		135,000		120,425
				899,713
Building Materials — 0.2%
Standard Industries, Inc.
4.375% 7/15/30 (a)		200,000		162,985
4.750% 1/15/28 (a)		151,000		135,584
				298,569
Chemicals — 0.8%
Alpek SAB de CV
3.250% 2/25/31 (a)		560,000		466,630
DuPont de Nemours, Inc.
5.319% 11/15/38		270,000		260,337
Syngenta Finance NV
4.892% 4/24/25 (a)		500,000		484,623
				1,211,590
Commercial Services — 0.0%
ERAC USA Finance LLC
7.000% 10/15/37 (a)		50,000		54,553
Computers — 0.4%
Dell International LLC / EMC Corp.
8.100% 7/15/36		100,000		112,485
8.350% 7/15/46		275,000		315,026

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Leidos, Inc.
5.500% 7/01/33	$	226,000	$	207,775
				635,286
Distribution & Wholesale — 0.3%
H&E Equipment Services, Inc.
3.875% 12/15/28 (a)		600,000		511,074
Diversified Financial Services — 4.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.400% 10/29/33		935,000		711,863
Antares Holdings LP
2.750% 1/15/27 (a)		645,000		517,398
3.750% 7/15/27 (a)		605,000		489,806
8.500% 5/18/25 (a)		330,000		337,131
Ares Finance Co. III LLC 5 year CMT + 3.237%
4.125% VRN 6/30/51 (a)		360,000		271,800
Ares Finance Co. LLC
4.000% 10/08/24 (a)		375,000		358,093
Avolon Holdings Funding Ltd.
2.528% 11/18/27 (a)		375,000		300,210
3.250% 2/15/27 (a)		175,000		149,963
4.250% 4/15/26 (a)		485,000		440,412
4.375% 5/01/26 (a)		480,000		435,233
5.500% 1/15/26 (a)		135,000		128,475
BGC Partners, Inc.
4.375% 12/15/25		585,000		548,576
Blue Owl Finance LLC
3.125% 6/10/31 (a)		910,000		678,034
4.125% 10/07/51 (a)		375,000		222,023
Coinbase Global, Inc.
3.625% 10/01/31 (a)		734,000		353,503
Global Aircraft Leasing Co. Ltd.
6.500% 9/15/24 (a)		662,078		562,766
OneMain Finance Corp.
4.000% 9/15/30		220,000		164,151
				6,669,437
Electric — 1.1%
Berkshire Hathaway Energy Co.
5.950% 5/15/37		120,000		124,529
The Cleveland Electric Illuminating Co.
5.950% 12/15/36		175,000		174,347
CMS Energy Corp.
4.700% 3/31/43		115,000		96,985
4.875% 3/01/44		180,000		164,496
Elwood Energy LLC
8.159% 7/05/26		90,875		80,425
Enel Finance International NV
6.000% 10/07/39 (a)		175,000		160,011
NextEra Energy Capital Holdings, Inc. 5 year CMT + 2.547%
3.800% VRN 3/15/82		580,000		473,264
Pacific Gas and Electric Co.
3.750% 7/01/28		320,000		284,312
4.300% 3/15/45		195,000		139,088

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Virginia Electric & Power Co.
6.000% 1/15/36	$	100,000	$	103,272
				1,800,729
Entertainment — 0.1%
Live Nation Entertainment, Inc.
5.625% 3/15/26 (a)		77,000		72,818
Warnermedia Holdings, Inc.
4.279% 3/15/32 (a)		200,000		164,974
				237,792
Food — 0.3%
Smithfield Foods, Inc.
2.625% 9/13/31 (a)		375,000		269,102
3.000% 10/15/30 (a)		206,000		156,965
				426,067
Gas — 0.2%
NiSource, Inc.
4.800% 2/15/44		295,000		261,981
Home Builders — 0.4%
Mattamy Group Corp.
4.625% 3/01/30 (a)		35,000		28,366
5.250% 12/15/27 (a)		227,000		201,311
Taylor Morrison Communities, Inc.
5.750% 1/15/28 (a)		500,000		468,177
				697,854
Insurance — 7.8%
Allianz SE 5 year CMT + 2.973%
3.500% VRN (a) (b)		1,176,000		985,109
Allstate Corp. 3 mo. USD LIBOR + 2.938%
5.750% VRN 8/15/53		640,000		601,600
American International Group, Inc. 3 mo. USD LIBOR + 2.868%
5.750% VRN 4/01/48		485,000		463,261
Ascot Group Ltd.
4.250% 12/15/30 (a)		450,000		388,008
AXIS Specialty Finance LLC 5 year CMT + 3.186%
4.900% VRN 1/15/40		490,000		401,800
Brighthouse Financial, Inc.
3.850% 12/22/51		575,000		360,744
4.700% 6/22/47		500,000		368,683
CNO Financial Group, Inc.
5.250% 5/30/29		791,000		755,952
Enstar Finance LLC 5 year CMT + 5.468%
5.750% VRN 9/01/40		1,060,000		959,300
Enstar Group Ltd.
4.950% 6/01/29		350,000		321,532
Equitable Holdings, Inc. 5 year CMT + 4.736%
4.950% VRN (b)		505,000		476,063
Global Atlantic Fin Co.
3.125% 6/15/31 (a)		380,000		279,699
5 year CMT + 3.796% 4.700% VRN 10/15/51 (a)		1,170,000		891,151
Hanwha Life Insurance Co. Ltd. 5 year CMT + 1.850%
3.379% VRN 2/04/32 (a)		520,000		433,569

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Hill City Funding Trust
4.046% 8/15/41 (a)	$	490,000	$	339,294
Jackson Financial, Inc.
3.125% 11/23/31		550,000		422,984
Kyobo Life Insurance Co. 5 year CMT + 2.887%
5.900% VRN 6/15/52 (a)		861,000		789,967
Liberty Mutual Group, Inc. 5 year CMT + 3.315%
4.125% VRN 12/15/51 (a)		265,000		215,869
Lincoln National Corp. 5 year CMT + 5.318%
9.250% VRN (b)		169,000		178,011
MetLife Capital Trust IV
7.875% 12/15/67 (a)		325,000		351,035
Prudential Financial, Inc.
5 year CMT + 3.162% 5.125% VRN 3/01/52		565,000		514,150
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43		200,000		196,500
Sammons Financial Group, Inc.
3.350% 4/16/31 (a)		570,000		435,208
4.750% 4/08/32 (a)		790,000		661,791
Unum Group
4.125% 6/15/51		460,000		316,418
USF&G Capital I
8.500% 12/15/45 (a)		95,000		103,142
XLIT Ltd.
5.500% 3/31/45		200,000		190,087
				12,400,927
Internet — 0.1%
Expedia Group, Inc.
2.950% 3/15/31		178,000		143,705
Investment Companies — 2.8%
Ares Capital Corp.
2.150% 7/15/26		560,000		474,905
Blackstone Private Credit Fund
1.750% 9/15/24		625,000		574,824
2.625% 12/15/26		330,000		273,517
4.000% 1/15/29		630,000		520,817
Golub Capital BDC, Inc.
2.500% 8/24/26		195,000		165,762
3.375% 4/15/24		562,000		540,655
Icahn Enterprises LP/ Icahn Enterprises Finance Corp.
6.250% 5/15/26		1,000,000		960,896
OWL Rock Core Income Corp.
4.700% 2/08/27		410,000		370,199
5.500% 3/21/25		535,000		518,994
				4,400,569
Iron & Steel — 0.1%
Vale Overseas Ltd.
6.875% 11/21/36		225,000		237,529
Leisure Time — 0.3%
Royal Caribbean Cruises Ltd.
5.500% 8/31/26 (a)		485,000		407,407
Lodging — 0.7%
Las Vegas Sands Corp.
3.900% 8/08/29		525,000		445,565

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Travel & Leisure Co.
4.500% 12/01/29 (a)	$	917,000	$	747,199
				1,192,764
Media — 1.5%
CCO Holdings LLC/CCO Holdings Capital Corp.
5.000% 2/01/28 (a)		250,000		225,937
Charter Communications Operating LLC/Charter Communications Operating Capital
3.900% 6/01/52		150,000		94,682
Comcast Corp.
4.600% 8/15/45		300,000		266,442
CSC Holdings LLC
4.625% 12/01/30 (a)		250,000		138,139
5.000% 11/15/31 (a)		325,000		181,578
5.750% 1/15/30 (a)		200,000		112,798
Discovery Communications LLC
4.000% 9/15/55		235,000		141,869
4.650% 5/15/50		55,000		37,929
DISH DBS Corp.
7.375% 7/01/28		1,123,000		794,522
Radiate Holdco LLC / Radiate Finance, Inc.
6.500% 9/15/28 (a)		231,000		95,865
Time Warner Cable, Inc.
4.500% 9/15/42		250,000		183,928
6.750% 6/15/39		115,000		109,097
				2,382,786
Mining — 1.7%
AngloGold Ashanti Holdings PLC
3.375% 11/01/28		585,000		510,925
First Quantum Minerals Ltd.
6.875% 3/01/26 (a) (c)		1,000,000		947,022
Freeport-McMoRan, Inc.
5.400% 11/14/34		350,000		330,500
Glencore Finance Canada Ltd.
5.550% STEP 10/25/42 (a)		149,000		134,526
Novelis Corp.
3.875% 8/15/31 (a)		533,000		435,137
Perenti Finance Pty Ltd.
6.500% 10/07/25 (a) (c)		325,000		303,225
				2,661,335
Oil & Gas — 3.0%
Antero Resources Corp.
7.625% 2/01/29 (a)		74,000		74,425
BP Capital Markets PLC
5 year CMT + 4.036% 4.375% VRN (b)		530,000		506,150
5 year CMT + 4.398% 4.875% VRN (b)		310,000		271,250
Cenovus Energy, Inc.
6.750% 11/15/39		175,000		182,193
EQT Corp.
7.000% STEP 2/01/30		695,000		720,798
Nabors Industries, Inc.
7.375% 5/15/27 (a)		564,000		546,344

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Occidental Petroleum Corp.
6.600% 3/15/46	$	235,000	$	241,813
Ovintiv, Inc.
6.500% 8/15/34		185,000		186,906
6.500% 2/01/38		160,000		159,312
Patterson-UTI Energy, Inc.
3.950% 2/01/28		540,000		477,171
5.150% 11/15/29		615,000		552,389
Petroleos Mexicanos
4.625% 9/21/23		575,000		566,289
5.350% 2/12/28		190,000		159,894
6.375% 1/23/45		35,000		21,687
6.500% 3/13/27		65,000		59,307
6.625% 6/15/38		51,000		34,849
				4,760,777
Oil & Gas Services — 0.7%
NOV, Inc.
3.600% 12/01/29		467,000		411,336
3.950% 12/01/42		314,000		220,194
Weatherford International Ltd.
8.625% 4/30/30 (a)		483,000		463,829
				1,095,359
Packaging & Containers — 0.0%
Mauser Packaging Solutions Holding Co.
5.500% 4/15/24 (a)		49,000		47,639
Pharmaceuticals — 1.0%
1375209 BC Ltd.
9.000% 1/30/28 (a)		158,000		153,852
AbbVie, Inc.
4.700% 5/14/45		150,000		134,395
Bausch Health Cos., Inc.
11.000% 9/30/28 (a)		282,000		219,916
14.000% 10/15/30 (a)		55,000		32,651
Cigna Corp.
4.800% 7/15/46		185,000		167,032
CVS Health Corp.
5.050% 3/25/48		115,000		103,741
6.125% 9/15/39		25,000		25,794
CVS Pass-Through Trust
5.926% 1/10/34 (a)		165,071		161,472
7.507% 1/10/32 (a)		11,888		12,391
Utah Acquisition Sub, Inc.
3.950% 6/15/26		350,000		327,590
5.250% 6/15/46		350,000		266,202
				1,605,036
Pipelines — 1.5%
Energy Transfer LP
6.125% 12/15/45		230,000		214,090
3 mo. USD LIBOR + 4.028% 6.250% VRN (b) (c)		615,000		522,750
5 year CMT + 5.134% 6.750% VRN (b)		270,000		233,550
EnLink Midstream Partners LP 3 mo. USD LIBOR + 4.110%
8.879% VRN (b)		375,000		311,891

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
MPLX LP 3 mo. USD LIBOR + 4.652%
6.875% VRN (b)	$	525,000	$	517,125
Plains All American Pipeline LP/PAA Finance Corp.
3.800% 9/15/30		265,000		230,949
4.700% 6/15/44		260,000		198,328
6.650% 1/15/37		175,000		173,046
				2,401,729
Private Equity — 0.3%
Apollo Management Holdings LP 5 year CMT + 3.266%
4.950% VRN 1/14/50 (a)		325,000		275,840
KKR Group Finance Co. VIII LLC
3.500% 8/25/50 (a)		160,000		107,781
KKR Group Finance Co. X LLC
3.250% 12/15/51 (a)		230,000		146,736
				530,357
Real Estate Investment Trusts (REITS) — 2.3%
Broadstone Net Lease LLC
2.600% 9/15/31		405,000		304,518
Host Hotels & Resorts LP
2.900% 12/15/31		130,000		99,786
3.500% 9/15/30		476,000		393,989
Invitation Homes Operating Partnership LP
4.150% 4/15/32		110,000		96,564
Iron Mountain, Inc.
5.250% 7/15/30 (a)		250,000		217,250
Omega Healthcare Investors, Inc.
3.625% 10/01/29		640,000		526,197
4.750% 1/15/28		202,000		186,363
Piedmont Operating Partnership LP
2.750% 4/01/32		235,000		165,058
Rexford Industrial Realty LP
2.125% 12/01/30		246,000		192,625
Service Properties Trust
4.950% 10/01/29		590,000		407,748
Spirit Realty LP
2.700% 2/15/32		120,000		89,095
3.200% 1/15/27		220,000		195,359
3.400% 1/15/30		325,000		270,670
Ventas Realty LP
5.700% 9/30/43		85,000		77,871
WEA Finance LLC
2.875% 1/15/27 (a)		475,000		407,115
				3,630,208
Retail — 0.2%
Nordstrom, Inc.
4.250% 8/01/31		440,000		314,644
Software — 0.1%
Oracle Corp.
6.900% 11/09/52		149,000		160,820
Telecommunications — 1.6%
Altice France SA
5.125% 7/15/29 (a)		442,000		331,386

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
AT&T, Inc.
3.550% 9/15/55	$	814,000	$	545,578
British Telecommunications PLC
9.625% STEP 12/15/30		150,000		180,100
Hughes Satellite Systems Corp.
6.625% 8/01/26		444,000		414,137
Sprint Capital Corp.
6.875% 11/15/28		500,000		519,994
8.750% 3/15/32		141,000		167,804
Verizon Communications, Inc.
2.987% 10/30/56		233,000		143,102
Vodafone Group PLC
5.250% 5/30/48		255,000		225,951
				2,528,052
Trucking & Leasing — 0.4%
AerCap Global Aviation Trust 3 mo. USD LIBOR + 4.300%
6.500% VRN 6/15/45 (a)		600,000		569,256
Venture Capital — 0.6%
Hercules Capital, Inc.
2.625% 9/16/26		738,000		623,195
3.375% 1/20/27		340,000		291,892
				915,087
TOTAL CORPORATE DEBT (Cost $84,191,906)				70,946,121
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 28.6%
Commercial Mortgage-Backed Securities — 11.9%
Aventura Mall Trust, Series 2018-AVM, Class D,
4.112% VRN 7/05/40 (a) (d)		530,000		435,378
BAMLL Commercial Mortgage Securities Trust
Series 2019-BPR, Class CMP, 3.895% VRN 11/05/32 (a) (d)		440,000		376,452
Series 2019-BPR, Class DMP, 3.895% VRN 11/05/32 (a) (d)		540,000		457,932
Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 5.668% FRN 9/15/34 (a)		150,000		143,637
BANK
Series 2020-BN30, Class MCDF, 2.918% VRN 12/15/53 (d)		500,000		316,499
Series 2019-BN17, Class C, 4.516% VRN 4/15/52 (d)		331,000		267,268
BBCMS Mortgage Trust
Series 2018-CHRS, Class B, 4.267% VRN 8/05/38 (a) (d)		400,000		333,890
Series 2018-CHRS, Class C, 4.267% VRN 8/05/38 (a) (d)		280,000		236,731
Series 2018-CHRS, Class D, 4.267% VRN 8/05/38 (a) (d)		270,000		214,504
Benchmark Mortgage Trust
Series 2021-B25, Class 300C, 2.994% VRN 4/15/54 (a) (d)		500,000		354,104
Series 2020-IG1, Class D, 3.245% VRN 9/15/43 (d)		400,000		178,800
BGME Trust, Series 2021-VR, Class D,
2.995% VRN 1/10/43 (a) (d)		3,100,000		2,354,829
BX Commercial Mortgage Trust
Series 2021-BXMF, Class E, 1 mo. USD LIBOR + 2.427% 6.745% FRN 10/15/26 (a)		1,500,000		1,371,847
Series 2021-VOLT, Class G, 1 mo. USD LIBOR + 2.850% 7.168% FRN 9/15/36 (a)		2,004,000		1,830,772
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class E, 1 mo. USD LIBOR + 2.150%
6.468% FRN 12/15/37 (a)		572,453		548,150

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class C
3.502% 8/10/56	$	222,000	$	168,868
Commercial Mortgage Pass-Through Certificates, Series 2015-CR23, Class C,
4.301% VRN 5/10/48 (d)		110,000		101,561
DC Office Trust
Series 2019-MTC, Class D, 3.072% VRN 9/15/45 (a) (d)		357,000		252,169
Series 2019-MTC, Class E, 3.072% VRN 9/15/45 (a) (d)		622,000		411,479
DROP Mortgage Trust, Series 2021-FILE, Class D, 1 mo. USD LIBOR + 2.750%
7.070% FRN 10/15/43 (a)		998,000		883,141
GS Mortgage Securities Corp. II, Series 2018-GS10, Class D
3.000% 7/10/51 (a)		599,000		400,271
Hudson Yards Mortgage Trust, Series 2019-30HY, Class E,
3.443% VRN 7/10/39 (a) (d)		630,000		445,790
Jackson Park Trust, Series 2019-LIC, Class D,
3.242% VRN 10/14/39 (a) (d)		686,000		508,586
JP Morgan Chase Commercial Mortgage Securities Trust
Series 2022-OPO, Class C, 3.450% VRN 1/05/39 (a) (d)		700,000		544,461
Series 2019-OSB, Class E, 3.783% VRN 6/05/39 (a) (d)		553,000		421,554
JPMBB Commercial Mortgage Securities Trust, Series 2014-C21, Class C,
4.644% VRN 8/15/47 (d)		300,000		276,243
KIND Trust, Series 2021-KIND, Class C, 1 mo. USD LIBOR + 1.750%
6.068% FRN 8/15/38 (a)		893,542		823,558
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
6.118% FRN 5/15/36 (a)		263,000		255,945
Life Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750%
6.068% FRN 3/15/38 (a)		424,643		401,844
Med Trust 2021-MDLN, Series 2021-MDLN, Class F, 1 mo. USD LIBOR + 4.000%
8.318% FRN 11/15/38 (a)		2,000,000		1,840,150
MFT Trust
Series 2020-ABC, Class A, 3.358% 2/10/42 (a)		205,000		158,702
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (a) (d)		215,000		159,681
MKT Mortgage Trust, Series 2020-525M, Class E,
2.941% VRN 2/12/40 (a) (d)		213,000		121,721
VASA Trust, Series 2021-VASA, Class D, 1 mo. USD LIBOR + 2.100%
6.418% FRN 7/15/39 (a)		864,000		782,862
Wells Fargo Commercial Mortgage Trust
Series 2015-NXS1, Class C, 3.848% VRN 5/15/48 (d)		140,000		124,941
Series 2021-FCMT, Class C, 1 mo. USD LIBOR + 2.400% 6.718% FRN 5/15/31 (a)		461,000		422,119
				18,926,439
Home Equity Asset-Backed Securities — 0.0%
Credit Suisse Seasoned Loan Trust, Series 2006-1, Class A, 1 mo. USD LIBOR + .480%
4.869% FRN 10/25/34 (a)		10,755		10,749
Other Asset-Backed Securities — 11.9%
522 Funding CLO Ltd., Series 2018-3A, Class CR, 3 mo. USD LIBOR + 2.050%
6.293% FRN 10/20/31 (a)		250,000		234,636
AASET Trust, Series 2019-2, Class C
6.413% 10/16/39 (a)		1,280,335		256,067

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
AIMCO CLO Series Ltd., Series 2018-AA, Class B, 3 mo. USD LIBOR + 1.400%
5.479% FRN 4/17/31 (a)	$	250,000	$	240,343
Anchorage Capital CLO Ltd., Series 2021-19A, Class A, 3 mo. USD LIBOR + 1.210%
5.289% FRN 10/15/34 (a)		1,000,000		973,963
Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W10, Class M1, 1 mo. USD LIBOR + .900%
3.769% FRN 10/25/34		127,519		112,186
Atrium XV, Series 15A, Class B, 3 mo. USD LIBOR + 1.750%
6.075% FRN 1/23/31 (a)		250,000		243,426
Ballyrock CLO Ltd., Series 2021-17A, Class A1A, 3 mo. USD LIBOR + 1.150%
5.393% FRN 10/20/34 (a)		250,000		243,637
Blackbird Capital Aircraft Lease Securitization Ltd., Series 2016-1A, Class A,
4.213% STEP 12/16/41 (a)		321,371		262,956
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A, 2.940% 5/25/29 (a)		39,877		38,770
Series 2017-1A, Class B, 3.240% 5/25/29 (a)		32,942		32,023
Business Jet Securities LLC, Series 2021-1A, Class C
5.067% 4/15/36 (a)		1,153,384		1,012,141
Canyon Capital CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 2.150%
6.229% FRN 10/15/34 (a)		250,000		231,860
Capital Automotive REIT, Series 2020-1A, Class B3
4.950% 2/15/50 (a)		671,000		537,648
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A
3.967% 4/15/39 (a)		151,817		128,305
DataBank Issuer, Series 2021-1A, Class B
2.650% 2/27/51 (a)		300,000		262,119
Diameter Capital CLO Ltd., Series 2021-2A, Class A1, 3 mo. USD LIBOR + 1.220%
5.299% FRN 10/15/36 (a)		500,000		483,213
Elara HGV Timeshare Issuer LLC
Series 2016-A, Class A, 2.730% 4/25/28 (a)		43,063		42,578
Series 2016-A, Class B, 3.220% 4/25/28 (a)		26,258		25,966
Falcon Aerospace Ltd., Series 2019-1, Class C
6.656% 9/15/39 (a)		345,019		190,156
FCI Funding LLC, Series 2019-1A, Class A
3.630% 2/18/31 (a)		3,101		3,098
Goldentree Loan Management US CLO Ltd., Series 2019-5A, Class CR, 3 mo. USD LIBOR + 2.050%
6.293% FRN 10/20/32 (a)		250,000		236,288
Goodgreen Trust
Series 2016-1A, Class A, 3.230% 10/15/52 (a)		145,434		132,105
Series 2017-1A, Class A, 3.740% 10/15/52 (a)		80,044		74,235
Series 2019-2A, Class B, 3.860% 4/15/55 (a)		93,238		82,239
Series 2021-1A, Class C, 5.740% 10/15/56 (a)		446,385		353,415
Gracie Point International Funding, Series 2021-1A, Class C, 1 mo. USD LIBOR + 2.400%
6.520% FRN 11/01/23 (a)		610,000		607,366
Gulf Stream Meridian 6 Ltd., Series 2021-6A, Class A2, 3 mo. USD LIBOR + 1.750%
5.829% FRN 1/15/37 (a)		250,000		235,746
Harbor Park CLO Ltd., Series 2018-1A, Class B1, 3 mo. USD LIBOR + 1.700%
5.943% FRN 1/20/31 (a)		280,000		271,350

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Hero Funding Trust
Series 2016-3A, Class A1, 3.080% 9/20/42 (a)	$	52,561	$	49,178
Series 2017-3A, Class A1, 3.190% 9/20/48 (a)		73,379		66,934
Series 2017-2A, Class A1, 3.280% 9/20/48 (a)		27,651		25,598
Series 2016-4A, Class A2, 4.290% 9/20/47 (a)		55,314		52,797
Horizon Aircraft Finance I Ltd., Series 2018-1, Class B
5.270% 12/15/38 (a)		225,200		143,288
Horizon Aircraft Finance II Ltd., Series 2019-1, Class B
4.703% 7/15/39 (a)		273,167		164,212
Horizon Aircraft Finance III Ltd., Series 2019-2, Class A
3.425% 11/15/39 (a)		466,254		359,758
J.G. Wentworth XLIII LLC, Series 2019-1A, Class B
4.510% 8/15/73 (a)		138,000		123,185
KDAC Aviation Finance Ltd., Series 2017-1A, Class A
4.212% 12/15/42 (a)		271,442		204,944
Kestrel Aircraft Funding Limited, Series 2018-1A, Class A
4.250% 12/15/38 (a)		347,189		274,293
Labrador Aviation Finance Ltd., Series 2016-1A, Class A1
4.300% 1/15/42 (a)		304,159		239,537
LoanCore Issuer Ltd., Series 2022-CRE7, Class E, 30 day SOFR + 3.750%
7.558% FRN 1/17/37 (a)		1,000,000		922,327
Lunar Aircraft Ltd.
Series 2020-1A, Class B, 4.335% 2/15/45 (a)		111,323		71,402
Series 2020-1A, Class C, 6.413% 2/15/45 (a)		235,561		117,826
MACH 1, Series 2019-1, Class B
4.335% 10/15/39 (a)		319,562		228,053
Madison Park Funding Ltd.
Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 5.679% FRN 7/15/30 (a)		950,000		924,669
Series 2018-32A, Class CR, 3 mo. USD LIBOR + 2.000% 6.325% FRN 1/22/31 (a)		300,000		281,713
Mariner Finance Issuance Trust, Series 2021-AA, Class D
3.830% 3/20/36 (a)		381,000		311,692
Mosaic Solar Loans LLC, Series 2017-1A, Class A
4.450% 6/20/42 (a)		25,407		24,326
Neuberger Berman CLO Ltd., Series 2015-20A, Class BRR, 3 mo. USD LIBOR + 1.650%
5.729% FRN 7/15/34 (a)		500,000		481,296
OHA Credit Funding Ltd., Series 2015-11A, Class CR, 3 mo. USD LIBOR + 2.150%
6.393% FRN 1/20/32 (a)		300,000		285,804
Parallel Ltd., Series 2021-2A, Class A2, 3 mo. USD LIBOR + 1.850%
6.093% FRN 10/20/34 (a)		250,000		236,631
Pioneer Aircraft Finance Ltd., Series 2019-1, Class B
4.948% 6/15/44 (a)		341,661		201,866
Rad CLO 12 Ltd., Series 2021-12A, Class A, 3 mo. USD LIBOR + 1.170%
5.585% FRN 10/30/34 (a)		500,000		486,096
Rad CLO 15 Ltd., Series 2021-15A, Class C, 3 mo. USD LIBOR + 2.050%
6.293% FRN 1/20/34 (a)		250,000		233,802
Rad CLO 4 Ltd., Series 2019-4A, Class B1, 3 mo. USD LIBOR + 2.100%
6.458% FRN 4/25/32 (a)		250,000		244,133
Renew, Series 2021-1, Class M
3.210% 11/20/56 (a)		177,525		146,636
Rockford Tower CLO Ltd., Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.720%
6.395% FRN 5/20/31 (a)		250,000		240,427
Sierra Receivables Funding LLC, Series 2020-2A, Class C
3.510% 7/20/37 (a)		47,021		44,333

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Slam Ltd., Series 2021-1A, Class B
3.422% 6/15/46 (a)	$	265,517	$	216,124
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300%
6.974% FRN 8/18/31 (a)		490,000		453,591
Store Master Funding I-VII and XIV, Series 2019-1, Class A4
4.490% 11/20/49 (a)		758,129		595,321
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A
4.870% 7/20/48 (a)		105,057		92,918
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A
4.190% 1/15/71 (a)		261,586		231,412
THL Credit Wind River CLO Ltd., Series 2018-3A, Class B, 3 mo. USD LIBOR + 1.700%
5.943% FRN 1/20/31 (a)		490,000		470,627
Thrust Engine Leasing DAC
Series 2021-1A, Class B, 6.121% 7/15/40 (a)		1,113,135		785,680
Series 2021-1A, Class C, 7.386% 7/15/40 (a)		368,626		267,292
TICP CLO XIV Ltd., Series 2019-14A, Class A2R, 3 mo. USD LIBOR + 1.650%
5.893% FRN 10/20/32 (a)		250,000		242,082
WAVE LLC, Series 2019-1, Class B
4.581% 9/15/44 (a)		608,521		364,680
Willis Engine Structured Trust III, Series 2017-A, Class A,
4.690% STEP 8/15/42 (a)		320,318		278,687
Willis Engine Structured Trust IV, Series 2018-A, Class A,
4.750% STEP 9/15/43 (a)		194,363		155,217
				18,888,222
Student Loans Asset-Backed Securities — 2.9%
Access Group, Inc., Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500%
5.889% FRN 7/25/58 (a)		130,000		119,642
College Avenue Student Loans LLC
Series 2021-A, Class C, 2.920% 7/25/51 (a)		576,000		517,777
Series 2021-A, Class D, 4.120% 7/25/51 (a)		284,000		254,412
Series 2019-A, Class C, 4.460% 12/28/48 (a)		163,242		152,325
Series 2019-A, Class D, 5.500% 12/28/48 (a)		114,709		105,863
Commonbond Student Loan Trust, Series 2017-AGS, Class C
5.280% 5/25/41 (a)		33,079		30,644
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B
2.500% 1/25/30 (a)		53,167		50,132
EDvestinU Private Education Loan Issue No 3 LLC, Series 2021-A, Class B
3.500% 11/25/50 (a)		600,000		485,247
Goal Capital Funding Trust, Series 2006-1, Class B, 3 mo. USD LIBOR + .450%
5.149% FRN 8/25/42		424,534		407,109
Navient Student Loan Trust
Series 2018-EA, Class B, 4.440% 12/15/59 (a)		140,000		130,379
Series 2018-1A, Class B, 1 mo. USD LIBOR + 1.200% 5.589% FRN 3/25/67 (a)		250,000		239,037
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750%
6.139% FRN 12/26/40 (a)		2,824		2,823
Nelnet Student Loan Trust
Series 2005-4, Class A4R2, 1.191% FRN 3/22/32 (d)		120,000		118,628
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 4.974% FRN 6/25/41		80,062		72,587
Series 2012-2A, Class B, 1 mo. USD LIBOR + 1.000% 5.389% FRN 11/25/36 (a)		200,000		197,288

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2012-1A, Class B, 1 mo. USD LIBOR + 1.000% 5.389% FRN 6/25/42 (a)	$	150,000	$	148,261
Series 2012-4A, Class B, 1 mo. USD LIBOR + 1.000% 5.389% FRN 7/26/49 (a)		350,000		299,549
Series 2014-2A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 6/25/41 (a)		100,000		98,849
Series 2014-5A, Class B, 1 mo. USD LIBOR + 1.500% 5.889% FRN 5/26/54 (a)		100,000		88,568
SLM Student Loan Trust
Series 2006-4, Class B, 3 mo. USD LIBOR + .200% 4.558% FRN 1/25/70		118,360		111,266
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 4.568% FRN 10/25/40		116,609		108,997
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 4.648% FRN 1/25/44		231,010		211,468
Series 2004-3, Class B, 3 mo. USD LIBOR + .470% 4.828% FRN 10/25/64		78,812		74,641
SMB Private Education Loan Trust, Series 2019-A, Class B
4.000% 11/17/42 (a)		185,000		170,376
SoFi Professional Loan Program LLC
Series 2017-C, Class C, 4.210% VRN 7/25/40 (a) (d)		180,000		162,024
Series 2017-A, Class C, 4.430% VRN 3/26/40 (a) (d)		170,000		157,840
South Carolina Student Loan Corp., Series 2015-A, Class A, 1 mo. USD LIBOR + 1.500%
5.889% FRN 1/25/36		46,977		47,001
				4,562,733
Whole Loan Collateral Collateralized Mortgage Obligations — 1.9%
Angel Oak Mortgage Trust I LLC
Series 2019-4, Class M1, 3.459% VRN 7/26/49 (a) (d)		492,000		468,402
Series 2019-2, Class M1, 4.065% VRN 3/25/49 (a) (d)		239,396		232,601
Bank of America Mortgage Securities, Series 2004-G, Class 2A7,
3.961% VRN 8/25/34 (d)		4,518		4,250
JP Morgan Mortgage Trust, Series 2017-1, Class A11,
3.449% VRN 1/25/47 (a) (d)		82,847		71,147
New Residential Mortgage Loan Trust, Series 2021-NQM3, Class B1,
3.398% VRN 11/27/56 (a) (d)		3,600,000		2,302,244
				3,078,644
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $54,683,067)				45,466,787
SOVEREIGN DEBT OBLIGATION — 0.1%
Mexico Government International Bond
4.750% 3/08/44		214,000		172,489
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $241,696)				172,489
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (e) — 15.1%
Collateralized Mortgage Obligations — 0.0%
Federal Home Loan Mortgage Corp. Series 2178, Class PB 7.000% 8/15/29		3,592		3,690
Pass-Through Securities — 15.1%
Federal Home Loan Mortgage Corp.
Pool #RA4245 2.000% 12/01/50		480,299		396,924
Pool #RA4255 2.000% 1/01/51		992,000		820,108
Pool #SD0905 3.000% 3/01/52		749,611		665,458
Pool #SD1523 4.000% 8/01/52		1,089,788		1,032,226

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #SD1603 4.000% 9/01/52	$	693,399	$	652,874
Federal National Mortgage Association
Pool #FM8596 2.500% 9/01/51		487,998		418,120
Pool #FS3035 2.500% 4/01/52		1,579,090		1,356,676
Pool #MA3029 3.000% 6/01/32		253,375		241,317
Pool #MA3090 3.000% 8/01/32		102,038		97,055
Pool #AR3007 3.000% 2/01/43		87,897		79,946
Pool #FS1075 3.000% 3/01/52		762,295		676,956
Pool #CB3304 3.000% 4/01/52		1,149,759		1,021,044
Pool #CB3305 3.000% 4/01/52		1,392,171		1,234,578
Pool #AS1304 3.500% 12/01/28		66,722		64,785
Pool #MA1356 3.500% 2/01/43		478,809		445,955
Pool #CA6096 3.500% 6/01/50		1,001,279		919,747
Pool #FM4017 3.500% 8/01/50		64,678		59,614
Pool #CB3842 3.500% 6/01/52		2,248,439		2,062,367
Pool #CA1909 4.500% 6/01/48		364,571		357,533
Pool #CB3866 4.500% 6/01/52		868,420		844,666
Pool #CB4129 4.500% 7/01/52		1,108,020		1,073,557
Pool #AD6437 5.000% 6/01/40		27,830		28,188
Pool #AD6996 5.000% 7/01/40		175,459		177,816
Pool #AL8173 5.000% 2/01/44		60,074		61,183
Government National Mortgage Association
Pool #579140 6.500% 1/15/32		418		433
Pool #587280 6.500% 9/15/32		625		641
Pool #550659 6.500% 9/15/35		47,131		49,557
Pool #538689 6.500% 12/15/35		5,833		6,153
Pool #780651 7.000% 10/15/27		313		320
Pool #462384 7.000% 11/15/27		187		192
Pool #482668 7.000% 8/15/28		561		577
Pool #581417 7.000% 7/15/32		516		532
Pool #423836 8.000% 8/15/26		213		219
Government National Mortgage Association II
Pool #MA6038 3.000% 7/20/49		477,581		431,714
Pool #MA6283 3.000% 11/20/49		853,120		770,652
Pool #MA6409 3.000% 1/20/50		889,655		803,099
Pool #MA4321 3.500% 3/20/47		560,645		524,452
Government National Mortgage Association II TBA (f) 3.000% 1/23/53		975,000		870,111
Uniform Mortgage Backed Securities TBA
3.000% 12/01/53 (f)		1,450,000		1,276,566
3.500% 4/25/52 (f)		1,600,000		1,457,625
4.000% 6/25/52 (f)		3,175,000		2,985,492
				23,967,028
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $25,714,595)				23,970,718
U.S. TREASURY OBLIGATIONS — 5.4%
U.S. Treasury Bonds & Notes — 5.4%
U.S. Treasury Bond
2.250% 8/15/49 (g)		3,330,000		2,368,107

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
U.S. Treasury Note
3.000% 7/15/25	$	6,450,000	$	6,253,006
				8,621,113
TOTAL U.S. TREASURY OBLIGATIONS (Cost $8,908,404)				8,621,113
TOTAL BONDS & NOTES (Cost $173,739,668)				149,177,228
	Number of Shares
WARRANTS — 0.0%
Consumer, Non-cyclical — 0.0%
Chemicals — 0.0%
Hercules LLC, Expires 3/31/29, Strike 0.09 (h) (i) (j)		150		4,290
TOTAL WARRANTS (Cost $0)				4,290
MUTUAL FUNDS — 0.8%
Diversified Financial Services — 0.8%
State Street Navigator Securities Lending Government Money Market Portfolio (k)		1,289,700		1,289,700
TOTAL MUTUAL FUNDS (Cost $1,289,700)				1,289,700
TOTAL LONG-TERM INVESTMENTS (Cost $176,639,993)				151,593,201

	Principal Amount
SHORT-TERM INVESTMENTS — 8.4%
Commercial Paper — 7.5%
Fidelity National Information Services, Inc.
4.941% 1/19/23 (a)	$	1,000,000	997,430
Florida Power & Light Co.
4.311% 1/03/23		1,000,000	999,509
HP, Inc.
4.864% 1/23/23 (a)		1,000,000	996,904
Parker-Hannifin Corp.
5.078% 3/23/23 (a)		2,000,000	1,976,834
Suncor Energy, Inc.
4.906% 1/03/23 (a)		2,000,000	1,998,990
Tampa Electric Co.
4.826% 1/30/23 (a)		1,000,000	995,905
VF Corp.
4.977% 2/02/23		1,000,000	995,784
Walgreens Boots Alliance, Inc.
5.097% 2/06/23 (a)		2,000,000	1,989,831

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
The Walt Disney Co.
5.004% 3/24/23 (a)	$	1,000,000	$	988,977
				11,940,164
Repurchase Agreement — 0.9%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (l)		1,433,065		1,433,065
TOTAL SHORT-TERM INVESTMENTS (Cost $13,373,896)				13,373,229
TOTAL INVESTMENTS — 103.8% (Cost $190,013,889) (m)				164,966,430
Other Assets/(Liabilities) — (3.8)%				(6,036,551)
NET ASSETS — 100.0%			$	158,929,879

Abbreviation Legend

CLO Collateralized Loan Obligation

FRN Floating Rate Note

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $80,893,800 or 50.90% of net assets.

(b) Security is perpetual and has no stated maturity date.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $1,794,596 or 1.13% of net assets. The Fund received $596,406 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(d) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2022.

(e) May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency.

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

(g) All or a portion of this security is pledged/held as collateral for open derivatives.

(h) Non-income producing security.

(i) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2022, these securities amounted to a value of $4,290 or 0.00% of net assets.

(j) Investment is valued using significant unobservable inputs.

(k) Represents investment of security lending cash collateral. (Note 2).

(l) Maturity value of $1,433,268. Collateralized by U.S. Government Agency obligations with a rate of 0.000%, maturity date of 6/29/23, and an aggregate market value, including accrued interest, of $1,461,818.

(m) See Note 3 for aggregate cost for federal tax purposes.

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation/ (Depreciation)
Bank of America N.A.	1/17/23	USD	293,000	NOK	2,927,914	$	(6,024)
Bank of America N.A.	1/17/23	NOK	5,512,522	USD	513,653		49,332
Bank of America N.A.	1/17/23	USD	377,295	CHF	372,870		(26,521)
Bank of America N.A.	1/24/23	JPY	79,828,000	USD	542,800		66,982
Bank of America N.A.	2/14/23	PLN	745,805	USD	157,310		12,342
Bank of America N.A.	2/14/23	USD	258,254	EUR	254,537		(14,962)
Bank of America N.A.	2/21/23	PHP	8,929,309	USD	161,025		(1,036)
Bank of America N.A.	2/21/23	USD	155,549	PHP	8,929,309		(4,440)
Bank of America N.A.	2/21/23	USD	469,828	CNH	3,284,470		(6,514)
Barclays Bank PLC	1/17/23	EUR	18,302	USD	19,000		609
BNP Paribas SA	1/24/23	USD	307,606	INR	25,577,420		(1,226)
BNP Paribas SA	2/21/23	SGD	371,207	USD	274,765		2,592
BNP Paribas SA	2/21/23	USD	271,505	SGD	371,207		(5,852)
Citibank N.A.	1/10/23	COP	289,368,900	USD	59,890		(267)
Citibank N.A.	1/10/23	CLP	46,883,544	USD	54,238		1,000
Citibank N.A.	1/10/23	USD	63,285	COP	289,368,900		3,661
Citibank N.A.	1/10/23	USD	50,227	CLP	46,883,544		(5,011)
Citibank N.A.	2/08/23	COP	159,438,815	USD	32,802		(124)
Citibank N.A.	2/08/23	USD	32,100	COP	159,438,815		(578)
HSBC Bank USA	1/10/23	USD	106,000	BRL	562,289		(358)
HSBC Bank USA	1/17/23	ILS	551,694	USD	156,000		1,024
HSBC Bank USA	1/17/23	USD	159,000	TWD	5,035,053		(5,026)
HSBC Bank USA	1/17/23	USD	167,000	EUR	170,080		(15,223)
HSBC Bank USA	1/30/23	USD	290,997	CNH	2,084,735		(10,833)
HSBC Bank USA	2/14/23	ILS	914,455	USD	260,428		206
HSBC Bank USA	2/14/23	CZK	6,376,112	USD	261,316		20,170
HSBC Bank USA	2/14/23	EUR	101,890	USD	108,000		1,367
HSBC Bank USA	2/14/23	USD	263,385	HUF	108,238,241		(23,433)
HSBC Bank USA	2/14/23	USD	245,000	CHF	229,215		(3,989)
HSBC Bank USA	2/21/23	KRW	735,057,130	USD	562,960		18,993
HSBC Bank USA	2/21/23	THB	8,957,520	USD	261,000		(1,169)
HSBC Bank USA	2/21/23	USD	477,557	INR	39,277,890		4,051
JP Morgan Chase Bank N.A.	1/17/23	EUR	151,777	USD	160,582		2,032
Morgan Stanley & Co. LLC	2/08/23	MXN	2,099,551	USD	105,000		2,071
Morgan Stanley & Co. LLC	2/14/23	USD	142,377	CHF	139,006		(8,621)
Morgan Stanley & Co. LLC	2/21/23	USD	257,809	MYR	1,140,804		(1,689)
Morgan Stanley & Co. LLC	2/21/23	MYR	1,140,804	USD	252,307		7,191
Morgan Stanley & Co. LLC	2/21/23	JPY	67,741,432	USD	493,969		25,431
						$	76,158

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Long Bond	3/22/23		58	$	7,279,282	$	(9,344)
U.S. Treasury Ultra Bond	3/22/23		70		9,346,177		55,698
U.S. Treasury Note 2 Year	3/31/23		81		16,602,966		8,362
U.S. Treasury Note 5 Year	3/31/23		49		5,296,475		(7,920)
						$	46,796
Short
U.S. Treasury Ultra 10 Year	3/22/23		29	$	(3,435,272)	$	5,116

Currency Legend

BRL Brazilian Real

CHF Swiss Franc

CLP Chilean Peso

CNH Offshore Chinese Yuan

COP Colombian Peso

CZK Czech Koruna

EUR Euro

HUF Hungarian Forint

ILS Israeli Shekel

INR Indian Rupee

JPY Japanese Yen

KRW South Korean Won

MXN Mexican Peso

MYR Malaysian Ringgit

NOK Norwegian Krone

PHP Philippine Peso

PLN Polish Zloty

SGD Singapore Dollar

THB Thai Baht

TWD Taiwan Dollar

USD U.S. Dollar

MassMutual High Yield Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 95.1%
BANK LOANS — 2.0%
Computers — 0.0%
SonicWall US Holdings, Inc., 2nd Lien Term Loan, 3 mo. USD LIBOR + 7.500%
12.199% VRN 5/18/26	$	51,897	$	47,862
Food — 0.3%
Florida Food Products LLC, Term Loan, 1 mo. USD LIBOR + 5.000%
9.384% VRN 10/18/28		1,224,442		1,114,243
Packaging & Containers — 0.2%
Clydesdale Acquisition Holdings, Inc., Term Loan B, 1 mo. SOFR CME + 4.175%
8.598% VRN 4/13/29		652,490		620,139
Software — 1.5%
Finastra USA, Inc., USD 2nd Lien Term Loan, 3 mo. USD LIBOR + 7.250%
10.621% VRN 6/13/25		4,430,158		3,279,911
Ivanti Software, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 4.250%
9.011% VRN 12/01/27		1,220,775		962,374
Quest Software US Holdings, Inc., 2022 2nd Lien Term Loan, 3 mo. USD SOFR + 11.600%
11.594% VRN 2/01/30		2,522,327		1,517,608
				5,759,893
TOTAL BANK LOANS (Cost $9,834,646)				7,542,137
CORPORATE DEBT — 93.1%
Advertising — 0.8%
CMG Media Corp.
8.875% 12/15/27 (a)		2,314,000		1,741,748
Stagwell Global LLC
5.625% 8/15/29 (a)		1,514,000		1,248,414
				2,990,162
Aerospace & Defense — 0.2%
Spirit AeroSystems, Inc.
9.375% 11/30/29 (a)		559,000		588,459
TransDigm, Inc.
8.000% 12/15/25 (a)		221,000		224,184
				812,643
Agriculture — 0.2%
Darling Ingredients, Inc.
6.000% 6/15/30 (a)		938,000		916,895

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Airlines — 2.7%
American Airlines, Inc.
11.750% 7/15/25 (a)	$	2,318,000	$	2,486,004
American Airlines, Inc. /AAdvantage Loyalty IP Ltd.
5.500% 4/20/26 (a)		3,925,000		3,773,410
5.750% 4/20/29 (a)		1,488,000		1,357,342
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd.
6.500% 6/20/27 (a)		1,158,375		1,151,658
United Airlines, Inc.
4.375% 4/15/26 (a)		758,000		702,610
4.625% 4/15/29 (a)		795,000		692,203
				10,163,227
Auto Manufacturers — 2.0%
Ford Motor Co.
3.250% 2/12/32		2,869,000		2,151,894
Ford Motor Credit Co. LLC
4.000% 11/13/30		2,330,000		1,912,557
4.125% 8/17/27		1,560,000		1,396,200
4.389% 1/08/26		712,000		665,225
5.113% 5/03/29		322,000		291,586
7.350% 11/04/27		1,232,000		1,262,431
				7,679,893
Auto Parts & Equipment — 0.4%
Adient Global Holdings Ltd.
4.875% 8/15/26 (a)		1,734,000		1,614,319
Biotechnology — 0.3%
Emergent BioSolutions, Inc.
3.875% 8/15/28 (a)		2,529,000		1,257,090
Building Materials — 1.5%
Jeld-Wen, Inc.
4.875% 12/15/27 (a)		474,000		356,766
New Enterprise Stone & Lime Co., Inc.
5.250% 7/15/28 (a)		2,072,000		1,839,875
9.750% 7/15/28 (a)		3,764,000		3,477,709
				5,674,350
Chemicals — 5.2%
Celanese US Holdings LLC
6.379% 7/15/32		4,728,000		4,510,356
Consolidated Energy Finance SA
5.625% 10/15/28 (a)		4,296,000		3,652,762
LSF11 A5 HoldCo LLC
6.625% 10/15/29 (a)		2,205,000		1,821,575
Methanex Corp.
5.125% 10/15/27		2,056,000		1,906,940
5.250% 12/15/29		1,618,000		1,435,485
Olympus Water US Holding Corp.
4.250% 10/01/28 (a)		2,503,000		2,032,041
6.250% 10/01/29 (a) (b)		1,772,000		1,344,778
Polar US Borrower LLC / Schenectady International Group, Inc.
6.750% 5/15/26 (a)		2,234,000		826,580

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Tronox, Inc.
4.625% 3/15/29 (a)	$	1,296,000	$	1,077,300
Vibrantz Technologies, Inc.
9.000% 2/15/30 (a)		1,743,000		1,313,057
				19,920,874
Coal — 0.6%
Coronado Finance Pty Ltd.
10.750% 5/15/26 (a)		2,077,000		2,123,733
Commercial Services — 4.0%
Alta Equipment Group, Inc.
5.625% 4/15/26 (a)		2,194,000		1,974,808
Ashtead Capital, Inc.
4.000% 5/01/28 (a)		306,000		279,811
5.500% 8/11/32 (a)		1,261,000		1,210,125
CoreLogic, Inc.
4.500% 5/01/28 (a)		1,254,000		962,069
The Hertz Corp.
5.000% 12/01/29 (a)		1,347,000		1,021,834
Prime Security Services Borrower LLC / Prime Finance, Inc.
6.250% 1/15/28 (a)		2,865,000		2,607,608
PROG Holdings, Inc.
6.000% 11/15/29 (a)		3,302,000		2,657,053
Rent-A-Center, Inc.
6.375% 2/15/29 (a)		499,000		403,665
Sabre GLBL, Inc.
7.375% 9/01/25 (a)		638,000		609,662
9.250% 4/15/25 (a)		3,672,000		3,657,778
				15,384,413
Computers — 1.5%
Condor Merger Sub, Inc.
7.375% 2/15/30 (a)		2,689,000		2,162,737
Presidio Holdings, Inc.
8.250% 2/01/28 (a)		2,787,000		2,583,772
Seagate HDD Cayman
9.625% 12/01/32 (a)		748,800		821,284
				5,567,793
Cosmetics & Personal Care — 0.7%
Coty, Inc. /HFC Prestige Products, Inc. /HFC Prestige International US LLC
4.750% 1/15/29 (a)		3,086,000		2,792,830
Distribution & Wholesale — 0.9%
American Builders & Contractors Supply Co., Inc.
3.875% 11/15/29 (a)		1,527,000		1,248,246
Resideo Funding, Inc.
4.000% 9/01/29 (a)		2,600,000		2,102,230
Univar Solutions USA, Inc.
5.125% 12/01/27 (a)		177,000		167,858
				3,518,334
Diversified Financial Services — 5.8%
Coinbase Global, Inc.
3.375% 10/01/28 (a)		1,255,000		663,393

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
3.625% 10/01/31 (a)	$	1,018,000	$	490,281
Global Aircraft Leasing Co. Ltd.
6.500% 9/15/24 (a)		9,512,514		8,085,637
Jefferson Capital Holdings LLC
6.000% 8/15/26 (a)		2,664,000		2,204,274
Midcap Financial Issuer Trust
5.625% 1/15/30 (a)		723,000		585,514
6.500% 5/01/28 (a)		2,875,000		2,462,624
OneMain Finance Corp.
4.000% 9/15/30		1,207,000		900,591
5.375% 11/15/29		2,695,000		2,204,242
PRA Group, Inc.
5.000% 10/01/29 (a)		4,020,000		3,316,500
7.375% 9/01/25 (a)		1,113,000		1,075,322
				21,988,378
Electric — 1.5%
PG&E Corp.
5.000% 7/01/28 (b)		3,644,000		3,325,150
5.250% 7/01/30 (b)		583,000		530,530
Pike Corp.
5.500% 9/01/28 (a)		2,213,000		1,934,693
				5,790,373
Electronics — 0.9%
Atkore, Inc.
4.250% 6/01/31 (a)		3,884,000		3,330,530
Engineering & Construction — 1.6%
Arcosa, Inc.
4.375% 4/15/29 (a)		2,691,000		2,333,583
Dycom Industries, Inc.
4.500% 4/15/29 (a)		721,000		627,554
Global Infrastructure Solutions, Inc.
5.625% 6/01/29 (a)		488,000		381,286
7.500% 4/15/32 (a)		1,457,000		1,153,317
MasTec, Inc.
4.500% 8/15/28 (a) (b)		938,000		841,666
Railworks Holdings LP / Railworks Rally, Inc.
8.250% 11/15/28 (a)		879,000		813,075
				6,150,481
Entertainment — 0.2%
Everi Holdings, Inc.
5.000% 7/15/29 (a)		31,000		26,628
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.
4.875% 5/01/29 (a)		987,000		839,803
				866,431
Environmental Controls — 0.3%
Harsco Corp.
5.750% 7/31/27 (a)		1,245,000		983,010
Food — 0.8%
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
3.625% 1/15/32 (a)		2,474,000		2,003,940

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
3.750% 12/01/31 (a)	$	400,000	$	326,975
Simmons Foods, Inc. /Simmons Prepared Foods, Inc. /Simmons Pet Food, Inc. /Simmons Feed
4.625% 3/01/29 (a)		766,000		623,565
				2,954,480
Forest Products & Paper — 0.1%
Clearwater Paper Corp.
4.750% 8/15/28 (a)		493,000		433,847
Health Care – Products — 0.5%
Garden Spinco Corp.
8.625% 7/20/30 (a)		1,861,000		1,972,660
Health Care – Services — 5.5%
Centene Corp.
4.625% 12/15/29		4,327,000		3,955,696
Charles River Laboratories International, Inc.
3.750% 3/15/29 (a) (b)		280,000		247,632
4.250% 5/01/28 (a)		2,190,000		2,016,924
CHS/Community Health Systems, Inc.
4.750% 2/15/31 (a)		1,356,000		984,483
5.625% 3/15/27 (a)		556,000		476,748
6.000% 1/15/29 (a)		1,492,000		1,248,028
6.125% 4/01/30 (a)		1,361,000		673,937
6.875% 4/15/29 (a)		472,000		242,591
HCA, Inc.
3.500% 9/01/30		5,131,000		4,438,786
ModivCare, Inc.
5.875% 11/15/25 (a)		97,000		91,115
Molina Healthcare, Inc.
4.375% 6/15/28 (a)		1,253,000		1,143,475
Radiology Partners, Inc.
9.250% 2/01/28 (a)		4,598,000		2,581,105
Tenet Healthcare Corp.
4.375% 1/15/30 (a)		1,178,000		1,019,636
6.125% 6/15/30 (a)		2,081,000		1,982,777
				21,102,933
Home Builders — 1.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.
4.625% 8/01/29 (a)		1,339,000		1,072,178
Mattamy Group Corp.
4.625% 3/01/30 (a)		4,544,000		3,682,750
5.250% 12/15/27 (a)		25,000		22,171
				4,777,099
Insurance — 0.6%
Highlands Holdings Bond Issuer Ltd. / Highlands Holdings Bond Co-Issuer, Inc.
7.625% 10/15/25 (a)		2,333,066		2,169,957
Internet — 0.9%
Getty Images, Inc.
9.750% 3/01/27 (a)		2,165,000		2,136,994
Millennium Escrow Corp.
6.625% 8/01/26 (a)		1,127,000		721,338

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Uber Technologies, Inc.
4.500% 8/15/29 (a)	$	770,000	$	670,866
				3,529,198
Investment Companies — 0.3%
Icahn Enterprises LP/ Icahn Enterprises Finance Corp.
4.750% 9/15/24		1,179,000		1,130,185
Leisure Time — 1.2%
Carnival Corp.
7.625% 3/01/26 (a) (b)		651,000		515,979
5.750% 3/01/27 (a)		1,023,000		730,463
NCL Corp. Ltd.
5.875% 3/15/26 (a)		781,000		615,077
5.875% 2/15/27 (a)		224,000		194,051
NCL Finance Ltd.
6.125% 3/15/28 (a) (b)		620,000		457,697
Royal Caribbean Cruises Ltd.
Convertible, 4.250% 6/15/23		143,000		141,892
4.250% 7/01/26 (a)		1,609,000		1,300,631
5.500% 8/31/26 (a)		775,000		651,012
				4,606,802
Lodging — 1.9%
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc
4.875% 7/01/31 (a)		1,266,000		1,033,250
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp.
5.875% 5/15/25 (a)		1,698,000		1,585,045
Travel & Leisure Co.
4.500% 12/01/29 (a)		1,000,000		814,830
4.625% 3/01/30 (a)		800,000		663,416
6.000% STEP 4/01/27		419,000		397,669
6.625% 7/31/26 (a)		1,839,000		1,799,023
Wyndham Hotels & Resorts, Inc.
4.375% 8/15/28 (a)		968,000		868,490
				7,161,723
Machinery – Diversified — 0.2%
OT Merger Corp.
7.875% 10/15/29 (a)		1,410,000		747,300
Media — 7.6%
Altice Financing SA
5.000% 1/15/28 (a)		1,105,000		889,525
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250% 1/15/34 (a)		3,376,000		2,491,640
4.500% 5/01/32		853,000		679,542
5.000% 2/01/28 (a)		939,000		848,621
5.375% 6/01/29 (a)		1,205,000		1,085,157
CSC Holdings LLC
4.625% 12/01/30 (a)		1,843,000		1,018,360
5.750% 1/15/30 (a)		670,000		377,873
Cumulus Media New Holdings, Inc.
6.750% 7/01/26 (a) (b)		1,614,000		1,355,760

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
DIRECTV Financing LLC / DIRECTV Financing Co-Obligor, Inc.
5.875% 8/15/27 (a)	$	2,160,000	$	1,932,466
DISH DBS Corp.
5.250% 12/01/26 (a)		392,000		330,195
5.750% 12/01/28 (a)		504,000		402,255
5.875% 11/15/24		981,000		911,578
7.375% 7/01/28		918,000		649,485
DISH Network Corp.
3.375% 8/15/26		3,231,000		2,024,222
Gray Escrow II, Inc.
5.375% 11/15/31 (a)		1,881,000		1,355,543
iHeartCommunications, Inc.
8.375% 5/01/27 (b)		1,265,114		1,075,508
LCPR Senior Secured Financing DAC
6.750% 10/15/27 (a)		2,216,000		2,071,960
Radiate Holdco LLC / Radiate Finance, Inc.
6.500% 9/15/28 (a)		2,534,000		1,051,610
Sinclair Television Group Inc
5.125% 2/15/27 (a) (b)		1,350,000		1,101,076
Sirius XM Radio, Inc.
3.875% 9/01/31 (a)		3,880,000		3,027,057
Univision Communications, Inc.
7.375% 6/30/30 (a)		514,000		491,230
Virgin Media Secured Finance PLC
4.500% 8/15/30 (a)		250,000		208,856
5.500% 5/15/29 (a)		4,137,000		3,705,842
				29,085,361
Mining — 2.5%
Arconic Corp.
6.125% 2/15/28 (a)		1,627,000		1,526,557
Compass Minerals International, Inc.
4.875% 7/15/24 (a)		1,164,000		1,118,895
First Quantum Minerals Ltd.
6.500% 3/01/24 (a)		2,110,000		2,064,139
6.875% 3/01/26 (a)		1,420,000		1,344,771
7.500% 4/01/25 (a)		2,954,000		2,875,247
Novelis Corp.
3.250% 11/15/26 (a)		304,000		272,539
3.875% 8/15/31 (a)		313,000		255,531
				9,457,679
Miscellaneous - Manufacturing — 0.6%
Amsted Industries, Inc.
5.625% 7/01/27 (a)		2,435,000		2,309,987
Oil & Gas — 10.2%
Apache Corp.
4.750% 4/15/43		816,000		615,672
5.100% 9/01/40		607,000		503,028
5.350% 7/01/49		910,000		735,378
Chesapeake Energy Corp.
5.500% 2/01/26 (a)		633,000		610,829
5.875% 2/01/29 (a)		1,359,000		1,287,683
Comstock Resources, Inc.
5.875% 1/15/30 (a)		733,000		630,160
6.750% 3/01/29 (a)		1,512,000		1,364,580

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
CVR Energy, Inc.
5.750% 2/15/28 (a)	$	1,222,000	$	1,063,751
Hilcorp Energy I LP / Hilcorp Finance Co.
5.750% 2/01/29 (a)		513,000		456,604
6.000% 4/15/30 (a)		443,000		393,949
6.000% 2/01/31 (a)		1,607,000		1,386,132
6.250% 11/01/28 (a)		2,052,000		1,857,060
Murphy Oil Corp.
6.375% 7/15/28		1,190,000		1,145,436
Nabors Industries Ltd.
7.250% 1/15/26 (a)		2,399,000		2,260,815
7.500% 1/15/28 (a)		909,000		831,641
Nabors Industries, Inc.
5.750% 2/01/25		387,000		369,047
7.375% 5/15/27 (a)		2,040,000		1,976,137
Neptune Energy Bondco PLC
6.625% 5/15/25 (a)		6,763,000		6,566,926
Occidental Petroleum Corp.
6.125% 1/01/31		1,607,000		1,621,768
6.200% 3/15/40		1,570,000		1,525,155
6.375% 9/01/28		2,015,000		2,034,589
6.450% 9/15/36		1,040,000		1,060,800
6.600% 3/15/46		801,000		824,221
Parkland Corp.
4.625% 5/01/30 (a)		795,000		657,863
5.875% 7/15/27 (a)		1,856,000		1,762,272
Range Resources Corp. Co.
8.250% 1/15/29		846,000		871,756
Southwestern Energy Co.
4.750% 2/01/32		380,000		324,744
5.375% 3/15/30		366,000		333,799
Sunoco LP/Sunoco Finance Corp.
6.000% 4/15/27		1,137,000		1,119,602
Transocean Guardian Ltd.
5.875% 1/15/24 (a)		169,895		165,903
Transocean Poseidon Ltd.
6.875% 2/01/27 (a)		171,500		166,890
Transocean, Inc.
7.250% 11/01/25 (a)		1,205,000		1,065,486
7.500% 1/15/26 (a)		1,662,000		1,399,138
				38,988,814
Oil & Gas Services — 1.0%
Weatherford International Ltd.
6.500% 9/15/28 (a)		964,000		945,009
8.625% 4/30/30 (a)		2,835,000		2,722,474
				3,667,483
Packaging & Containers — 2.3%
Clydesdale Acquisition Holdings, Inc.
6.625% 4/15/29 (a)		538,000		511,809
8.750% 4/15/30 (a)		1,799,000		1,540,322
Graphic Packaging International LLC
3.500% 3/01/29 (a)		754,000		643,598
Mauser Packaging Solutions Holding Co.
7.250% 4/15/25 (a) (b)		1,077,000		995,844

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Mauser Packaging Solutions Holding Co.
5.500% 4/15/24 (a)	$	2,384,000	$	2,317,806
Trident TPI Holdings, Inc.
9.250% 8/01/24 (a)		2,752,000		2,616,139
				8,625,518
Pharmaceuticals — 2.1%
1375209 BC Ltd.
9.000% 1/30/28 (a)		816,000		794,580
Bausch Health Cos., Inc.
4.875% 6/01/28 (a)		1,347,000		856,748
9.000% 12/15/25 (a) (b)		870,000		691,067
11.000% 9/30/28 (a)		1,449,000		1,129,995
14.000% 10/15/30 (a)		286,000		169,783
Jazz Securities DAC
4.375% 1/15/29 (a)		1,247,000		1,111,264
Organon & Co. / Organon Foreign Debt Co-Issuer BV
4.125% 4/30/28 (a)		1,343,000		1,189,092
5.125% 4/30/31 (a)		1,230,000		1,064,417
Perrigo Finance Unlimited Co.
4.400% STEP 6/15/30		1,262,000		1,075,246
				8,082,192
Pipelines — 6.8%
Antero Midstream Partners LP / Antero Midstream Finance Corp.
5.375% 6/15/29 (a)		2,101,000		1,920,818
CQP Holdco LP / BIP-V Chinook Holdco LLC
5.500% 6/15/31 (a)		2,124,000		1,855,335
EnLink Midstream LLC
5.375% 6/01/29		786,000		727,271
5.625% 1/15/28 (a)		449,000		427,672
EnLink Midstream Partners LP
4.150% 6/01/25		27,000		25,516
4.850% 7/15/26		277,000		260,388
5.050% 4/01/45		160,000		121,253
5.450% 6/01/47		706,000		565,956
5.600% 4/01/44		3,122,000		2,574,922
EQM Midstream Partners LP
4.500% 1/15/29 (a)		1,111,000		933,150
6.000% 7/01/25 (a)		339,000		327,134
6.500% 7/01/27 (a)		763,000		729,237
7.500% 6/01/27 (a)		832,000		814,744
7.500% 6/01/30 (a)		176,000		169,580
Genesis Energy LP/Genesis Energy Finance Corp.
5.625% 6/15/24		666,000		642,686
6.250% 5/15/26		290,000		265,339
6.500% 10/01/25		2,411,000		2,289,960
ITT Holdings LLC
6.500% 8/01/29 (a)		4,327,000		3,643,940
NGL Energy Operating LLC / NGL Energy Finance Corp.
7.500% 2/01/26 (a)		2,530,000		2,249,359
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
5.500% 3/01/30		3,403,000		3,201,951
Venture Global Calcasieu Pass LLC
3.875% 8/15/29 (a)		869,000		760,375
4.125% 8/15/31 (a)		994,000		846,883

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Western Midstream Operating LP
5.450% 4/01/44	$	929,000	$	770,476
				26,123,945
Real Estate — 0.5%
Realogy Group LLC / Realogy Co-Issuer Corp.
5.750% 1/15/29 (a)		2,591,000		1,959,806
Real Estate Investment Trusts (REITS) — 2.1%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
4.750% 6/15/29 (a)		2,804,000		2,263,837
MPT Operating Partnership LP / MPT Finance Corp.
5.000% 10/15/27 (b)		1,252,000		1,052,344
RLJ Lodging Trust LP
3.750% 7/01/26 (a)		1,238,000		1,101,412
4.000% 9/15/29 (a)		829,000		672,042
Service Properties Trust
3.950% 1/15/28		359,000		254,887
4.375% 2/15/30		568,000		375,277
4.950% 2/15/27		284,000		223,678
5.500% 12/15/27		949,000		817,243
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC
4.750% 4/15/28 (a)		1,162,000		923,305
6.500% 2/15/29 (a)		560,000		371,000
				8,055,025
Retail — 3.6%
Asbury Automotive Group, Inc.
4.625% 11/15/29 (a)		993,000		836,742
Bath & Body Works, Inc.
6.750% 7/01/36		658,000		578,316
6.875% 11/01/35		2,029,000		1,803,578
BCPE Ulysses Intermediate, Inc.
7.750% 4/01/27 (a)		3,207,000		1,981,640
Macy's Retail Holdings LLC
5.875% 4/01/29 (a) (b)		261,000		231,090
5.875% 3/15/30 (a)		500,000		433,865
6.125% 3/15/32 (a)		553,000		464,813
Nordstrom, Inc.
5.000% 1/15/44 (b)		2,262,000		1,374,165
Sonic Automotive, Inc.
4.625% 11/15/29 (a)		1,085,000		868,768
4.875% 11/15/31 (a)		448,000		352,211
Staples, Inc.
7.500% 4/15/26 (a)		1,049,000		902,853
10.750% 4/15/27 (a) (b)		1,421,000		1,023,262
Suburban Propane Partners LP / Suburban Energy Finance Corp.
5.000% 6/01/31 (a)		1,271,000		1,080,328
Superior Plus LP / Superior General Partner, Inc.
4.500% 3/15/29 (a)		2,169,000		1,854,495
				13,786,126
Semiconductors — 0.4%
Entegris Escrow Corp.
5.950% 6/15/30 (a)		1,567,000		1,445,087

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Software — 1.4%
AthenaHealth Group, Inc.
6.500% 2/15/30 (a) (b)	$	1,601,000	$	1,179,829
Boxer Parent Co., Inc.
9.125% 3/01/26 (a)		158,000		149,060
Consensus Cloud Solutions, Inc.
6.000% 10/15/26 (a)		702,000		656,539
CWT Travel Group, Inc., (Acquired 11/16/21, Cost $685)
8.500% 11/19/26 (a) (c)		696		588
Open Text Corp.
3.875% 2/15/28 (a)		302,000		259,155
Open Text Holdings, Inc.
4.125% 2/15/30 (a)		1,297,000		1,043,632
4.125% 12/01/31 (a)		504,000		391,757
Veritas US, Inc./Veritas Bermuda Ltd.
7.500% 9/01/25 (a)		2,645,000		1,825,590
				5,506,150
Telecommunications — 5.9%
Altice France Holding SA
10.500% 5/15/27 (a)		494,000		376,675
Altice France SA
5.125% 7/15/29 (a)		2,356,000		1,766,395
Connect Finco SARL / Connect US Finco LLC
6.750% 10/01/26 (a)		2,300,000		2,131,547
Consolidated Communications, Inc.
6.500% 10/01/28 (a)		2,299,000		1,786,463
Frontier Communications Holdings LLC
5.000% 5/01/28 (a)		3,081,000		2,675,294
6.000% 1/15/30 (a) (b)		819,000		643,384
6.750% 5/01/29 (a)		902,000		746,189
GoTo Group, Inc.
5.500% 9/01/27 (a)		1,559,000		838,464
Hughes Satellite Systems Corp.
6.625% 8/01/26		2,280,000		2,126,647
Sprint Capital Corp.
6.875% 11/15/28		3,131,000		3,256,200
8.750% 3/15/32		4,688,000		5,579,189
T-Mobile USA, Inc.
3.375% 4/15/29		804,000		708,051
				22,634,498
Transportation — 1.6%
Carriage Purchaser, Inc.
7.875% 10/15/29 (a)		1,473,000		1,045,830
First Student Bidco, Inc./First Transit Parent, Inc.
4.000% 7/31/29 (a)		2,525,000		2,088,497
Seaspan Corp.
5.500% 8/01/29 (a)		3,997,000		3,028,926
				6,163,253
TOTAL CORPORATE DEBT (Cost $409,071,874)				356,002,867
TOTAL BONDS & NOTES (Cost $418,906,520)				363,545,004

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
MUTUAL FUNDS — 2.8%
Diversified Financial Services — 2.8%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		10,691,475	$	10,691,475
TOTAL MUTUAL FUNDS (Cost $10,691,475)				10,691,475
TOTAL LONG-TERM INVESTMENTS (Cost $429,597,995)				374,236,479

	Principal Amount
SHORT-TERM INVESTMENTS — 3.5%
Commercial Paper — 3.4%
Mercedes-Benz Finance North America LLC
4.897% 2/01/23 (a)	$	4,000,000		3,982,679
Penske Truck Leasing Co. LP
4.778% 1/10/23 (a)		4,000,000		3,994,270
Spire, Inc.
5.021% 2/09/23 (a)		5,000,000		4,972,889
				12,949,838
Repurchase Agreement — 0.1%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (e)		368,992		368,992
TOTAL SHORT-TERM INVESTMENTS (Cost $13,319,370)				13,318,830
TOTAL INVESTMENTS — 101.4% (Cost $442,917,365) (f)				387,555,309
Other Assets/(Liabilities) — (1.4)%				(5,222,632)
NET ASSETS — 100.0%			$	382,332,677

Abbreviation Legend

STEP Step Up Bond

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $287,299,421 or 75.14% of net assets.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $13,244,108 or 3.46% of net assets. The Fund received $2,833,014 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(c) Restricted security. Certain securities are restricted as to resale. At December 31, 2022, these securities amounted to a value of $588 or 0.00% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities.

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

(e) Maturity value of $369,044. Collateralized by U.S. Government Agency obligations with a rate of 2.875%, maturity date of 5/15/28, and an aggregate market value, including accrued interest, of $376,426.

(f) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Balanced Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 64.1%
COMMON STOCK — 64.1%
Basic Materials — 1.2%
Chemicals — 1.2%
Air Products & Chemicals, Inc.		605	$	186,497
Albemarle Corp.		136		29,493
Celanese Corp.		295		30,161
Dow, Inc.		2,684		135,247
DuPont de Nemours, Inc.		1,030		70,689
Ecolab, Inc.		447		65,065
International Flavors & Fragrances, Inc.		119		12,476
Linde PLC		1,625		530,043
LyondellBasell Industries NV Class A		2,676		222,188
PPG Industries, Inc.		335		42,123
The Sherwin-Williams Co.		352		83,540
				1,407,522
Forest Products & Paper — 0.0%
International Paper Co.		1,232		42,664
Mining — 0.0%
Newmont Corp.		1,208		57,018
				1,507,204
Communications — 4.2%
Advertising — 0.1%
Omnicom Group, Inc.		994		81,081
Internet — 0.9%
Booking Holdings, Inc. (a)		165		332,521
CDW Corp.		449		80,182
eBay, Inc.		1,860		77,134
Gen Digital, Inc.		1,322		28,331
MercadoLibre, Inc. (a)		115		97,318
Netflix, Inc. (a)		545		160,710
Okta, Inc. (a)		78		5,330
Palo Alto Networks, Inc. (a)		884		123,353
VeriSign, Inc. (a)		653		134,152
				1,039,031
Media — 0.4%
Fox Corp. Class A		4,810		146,080
Liberty Media Corp-Liberty Formula One Class C (a)		1,771		105,870
Paramount Global Class B		1,123		18,956
The Walt Disney Co. (a)		3,083		267,851
				538,757

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Telecommunications — 2.8%
Arista Networks, Inc. (a)		424	$	51,452
AT&T, Inc.		58,460		1,076,249
Cisco Systems, Inc.		17,091		814,215
Corning, Inc.		2,014		64,327
Motorola Solutions, Inc.		622		160,296
Verizon Communications, Inc.		30,433		1,199,060
				3,365,599
				5,024,468
Consumer, Cyclical — 6.8%
Apparel — 0.3%
NIKE, Inc. Class B		2,890		338,159
VF Corp.		373		10,298
				348,457
Auto Manufacturers — 0.2%
Cummins, Inc.		1,096		265,550
Auto Parts & Equipment — 0.1%
Aptiv PLC (a)		682		63,515
Distribution & Wholesale — 0.3%
Copart, Inc. (a)		1,856		113,012
W.W. Grainger, Inc.		323		179,668
				292,680
Leisure Time — 0.0%
Carnival Corp. (a)		534		4,304
Lodging — 0.2%
Hilton Worldwide Holdings, Inc.		747		94,391
Las Vegas Sands Corp. (a)		1,222		58,742
Marriott International, Inc. Class A		698		103,925
				257,058
Retail — 5.7%
AutoZone, Inc. (a)		245		604,214
Best Buy Co., Inc.		1,178		94,487
CarMax, Inc. (a)		169		10,290
Chipotle Mexican Grill, Inc. (a)		120		166,499
Costco Wholesale Corp.		2,392		1,091,948
Dollar General Corp.		2,656		654,040
Dollar Tree, Inc. (a)		877		124,043
Genuine Parts Co.		1,455		252,457
The Home Depot, Inc.		4,921		1,554,347
Lowe's Cos., Inc.		5,012		998,591
Lululemon Athletica, Inc. (a)		385		123,346
Ross Stores, Inc.		1,071		124,311
Target Corp.		1,351		201,353
The TJX Cos., Inc.		5,607		446,317
Ulta Beauty, Inc. (a)		337		158,077
Walgreens Boots Alliance, Inc.		1,672		62,466

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Yum! Brands, Inc.		1,681	$	215,303
				6,882,089
				8,113,653
Consumer, Non-cyclical — 17.8%
Beverages — 2.2%
Brown-Forman Corp. Class B		980		64,366
The Coca-Cola Co.		11,496		731,261
Constellation Brands, Inc. Class A		1,000		231,750
Keurig Dr Pepper, Inc.		3,825		136,399
Monster Beverage Corp. (a)		752		76,351
PepsiCo, Inc.		7,570		1,367,596
				2,607,723
Biotechnology — 1.7%
Amgen, Inc.		2,311		606,961
Biogen, Inc. (a)		369		102,183
BioMarin Pharmaceutical, Inc. (a)		191		19,767
Gilead Sciences, Inc.		6,209		533,043
Illumina, Inc. (a)		76		15,367
Incyte Corp. (a)		512		41,124
Regeneron Pharmaceuticals, Inc. (a)		328		236,649
Vertex Pharmaceuticals, Inc. (a)		1,462		422,196
				1,977,290
Commercial Services — 1.1%
Automatic Data Processing, Inc.		2,183		521,431
Block, Inc. (a)		464		29,158
Cintas Corp.		274		123,744
Global Payments, Inc.		1,735		172,320
Moody's Corp.		269		74,949
PayPal Holdings, Inc. (a)		3,524		250,979
S&P Global, Inc.		376		125,938
Verisk Analytics, Inc.		429		75,684
				1,374,203
Cosmetics & Personal Care — 1.8%
Colgate-Palmolive Co.		5,097		401,593
The Estee Lauder Cos., Inc. Class A		308		76,418
The Procter & Gamble Co.		11,106		1,683,225
				2,161,236
Food — 2.1%
Campbell Soup Co.		2,819		159,978
General Mills, Inc.		9,096		762,699
The Hershey Co.		1,879		435,120
Hormel Foods Corp.		1,546		70,420
Kellogg Co.		3,683		262,377
The Kroger Co.		6,247		278,491
McCormick & Co., Inc.		258		21,386
Mondelez International, Inc. Class A		6,166		410,964

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sysco Corp.		688	$	52,598
				2,454,033
Health Care – Products — 1.5%
Abbott Laboratories		3,906		428,840
Align Technology, Inc. (a)		40		8,436
Baxter International, Inc.		607		30,939
Boston Scientific Corp. (a)		2,229		103,136
Danaher Corp.		1,022		271,259
Edwards Lifesciences Corp. (a)		704		52,525
IDEXX Laboratories, Inc. (a)		70		28,557
Intuitive Surgical, Inc. (a)		286		75,890
Medtronic PLC		3,115		242,098
ResMed, Inc.		123		25,600
Thermo Fisher Scientific, Inc.		796		438,349
Waters Corp. (a)		96		32,888
West Pharmaceutical Services, Inc.		54		12,709
Zimmer Biomet Holdings, Inc.		396		50,490
				1,801,716
Health Care – Services — 2.6%
Centene Corp. (a)		1,027		84,224
Elevance Health, Inc.		971		498,094
HCA Healthcare, Inc.		468		112,301
Humana, Inc.		665		340,607
IQVIA Holdings, Inc. (a)		215		44,051
Laboratory Corp. of America Holdings		188		44,270
Quest Diagnostics, Inc.		435		68,052
UnitedHealth Group, Inc.		3,661		1,940,989
				3,132,588
Household Products & Wares — 0.2%
Church & Dwight Co., Inc.		583		46,996
The Clorox Co.		405		56,834
Kimberly-Clark Corp.		1,298		176,203
				280,033
Pharmaceuticals — 4.6%
AbbVie, Inc.		3,857		623,330
AmerisourceBergen Corp.		395		65,455
Becton Dickinson and Co.		562		142,917
Bristol-Myers Squibb Co.		8,682		624,670
Cardinal Health, Inc.		1,065		81,866
Cigna Corp.		2,115		700,784
CVS Health Corp.		6,602		615,240
DexCom, Inc. (a)		309		34,991
McKesson Corp.		955		358,240
Merck & Co., Inc.		13,426		1,489,615
Pfizer, Inc.		13,720		703,013
Zoetis, Inc.		544		79,723
				5,519,844
				21,308,666

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Energy — 2.8%
Energy – Alternate Sources — 0.1%
Enphase Energy, Inc. (a)		571	$	151,292
Oil & Gas — 1.6%
Hess Corp.		1,506		213,581
Marathon Petroleum Corp.		7,554		879,210
Phillips 66		2,249		234,076
Valero Energy Corp.		4,515		572,773
				1,899,640
Oil & Gas Services — 0.3%
Baker Hughes Co.		2,856		84,338
Halliburton Co.		2,456		96,643
Schlumberger NV		4,472		239,073
				420,054
Pipelines — 0.8%
Cheniere Energy, Inc.		1,004		150,560
Kinder Morgan, Inc.		22,507		406,926
ONEOK, Inc.		1,308		85,936
The Williams Cos., Inc.		8,170		268,793
				912,215
				3,383,201
Financial — 8.7%
Banks — 1.4%
The Bank of New York Mellon Corp.		4,805		218,724
Fifth Third Bancorp		1,693		55,547
First Republic Bank		304		37,054
The Goldman Sachs Group, Inc.		1,272		436,779
KeyCorp.		2,779		48,410
Morgan Stanley		3,630		308,623
Northern Trust Corp.		345		30,529
The PNC Financial Services Group, Inc.		1,203		190,002
Regions Financial Corp.		3,836		82,704
State Street Corp.		1,228		95,256
Truist Financial Corp.		2,953		127,068
				1,630,696
Diversified Financial Services — 2.5%
American Express Co.		2,255		333,176
Ameriprise Financial, Inc.		360		112,093
BlackRock, Inc.		354		250,855
The Charles Schwab Corp.		1,663		138,461
CME Group, Inc.		688		115,694
Discover Financial Services		1,421		139,017
Franklin Resources, Inc.		1,340		35,349
Intercontinental Exchange, Inc.		1,179		120,954
Nasdaq, Inc.		1,594		97,792
Synchrony Financial		4,392		144,321
T. Rowe Price Group, Inc.		957		104,371

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Visa, Inc. Class A		6,995	$	1,453,281
				3,045,364
Insurance — 3.2%
Aflac, Inc.		2,752		197,979
The Allstate Corp.		1,676		227,266
American International Group, Inc.		4,219		266,809
Aon PLC Class A		874		262,322
Arthur J Gallagher & Co.		1,254		236,429
Chubb Ltd.		2,505		552,603
The Hartford Financial Services Group, Inc.		1,841		139,603
Marsh & McLennan Cos., Inc.		2,685		444,314
MetLife, Inc.		3,399		245,986
Principal Financial Group, Inc.		1,616		135,615
The Progressive Corp.		3,948		512,095
Prudential Financial, Inc.		1,140		113,384
The Travelers Cos., Inc.		2,127		398,791
Willis Towers Watson PLC		510		124,736
				3,857,932
Private Equity — 0.0%
KKR & Co., Inc.		320		14,854
Real Estate — 0.1%
CBRE Group, Inc. Class A (a)		804		61,876
Real Estate Investment Trusts (REITS) — 1.5%
Alexandria Real Estate Equities, Inc.		431		62,784
American Tower Corp.		984		208,470
AvalonBay Communities, Inc.		378		61,055
Boston Properties, Inc.		319		21,558
Crown Castle, Inc.		1,192		161,683
Digital Realty Trust, Inc.		614		61,566
Equinix, Inc.		281		184,063
Equity Residential		960		56,640
Essex Property Trust, Inc.		177		37,510
Extra Space Storage, Inc.		447		65,790
Healthpeak Properties, Inc.		917		22,989
Prologis, Inc.		1,579		178,001
Public Storage		890		249,369
Realty Income Corp.		1,749		110,939
SBA Communications Corp.		291		81,570
Simon Property Group, Inc.		382		44,877
Ventas, Inc.		587		26,444
VICI Properties, Inc.		4,132		133,877
Welltower, Inc.		707		46,344
				1,815,529
				10,426,251
Industrial — 4.7%
Building Materials — 0.2%
Carrier Global Corp.		2,466		101,723
Johnson Controls International PLC		2,223		142,272

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Vulcan Materials Co.		291	$	50,957
				294,952
Electrical Components & Equipment — 0.1%
AMETEK, Inc.		715		99,900
Electronics — 1.0%
Agilent Technologies, Inc.		626		93,681
Amphenol Corp. Class A		2,290		174,360
Garmin Ltd.		369		34,055
Honeywell International, Inc.		2,266		485,604
Keysight Technologies, Inc. (a)		913		156,187
Mettler-Toledo International, Inc. (a)		64		92,509
TE Connectivity Ltd.		1,249		143,385
				1,179,781
Environmental Controls — 0.8%
Republic Services, Inc.		1,904		245,597
Waste Connections, Inc.		1,616		214,217
Waste Management, Inc.		3,022		474,091
				933,905
Hand & Machine Tools — 0.0%
Stanley Black & Decker, Inc.		122		9,165
Machinery – Diversified — 0.5%
Deere & Co.		846		362,731
Dover Corp.		345		46,716
Otis Worldwide Corp.		1,748		136,886
Rockwell Automation, Inc.		240		61,817
				608,150
Miscellaneous - Manufacturing — 0.4%
Eaton Corp. PLC		1,323		207,645
Illinois Tool Works, Inc.		797		175,579
Trane Technologies PLC		738		124,050
				507,274
Packaging & Containers — 0.1%
Amcor PLC		7,892		93,994
Ball Corp.		288		14,728
				108,722
Transportation — 1.6%
C.H. Robinson Worldwide, Inc.		1,614		147,778
CSX Corp.		10,639		329,596
Expeditors International of Washington, Inc.		1,763		183,211
FedEx Corp.		848		146,874
Norfolk Southern Corp.		929		228,924
Union Pacific Corp.		2,397		496,347

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
United Parcel Service, Inc. Class B		2,300	$	399,832
				1,932,562
				5,674,411
Technology — 15.5%
Computers — 5.8%
Accenture PLC Class A		2,507		668,968
Apple, Inc.		38,040		4,942,537
Cognizant Technology Solutions Corp. Class A		1,852		105,916
Crowdstrike Holdings, Inc. Class A (a)		357		37,588
Fortinet, Inc. (a)		1,986		97,096
Hewlett Packard Enterprise Co.		6,129		97,819
HP, Inc.		5,190		139,455
International Business Machines Corp.		5,598		788,702
NetApp, Inc.		553		33,213
Seagate Technology Holdings PLC		534		28,094
Western Digital Corp. (a)		563		17,763
				6,957,151
Office & Business Equipment — 0.0%
Zebra Technologies Corp. Class A (a)		89		22,820
Semiconductors — 2.9%
Advanced Micro Devices, Inc. (a)		1,522		98,580
Applied Materials, Inc.		2,318		225,727
Broadcom, Inc.		1,675		936,543
Intel Corp.		6,001		158,606
KLA Corp.		726		273,724
Lam Research Corp.		417		175,265
Micron Technology, Inc.		3,691		184,476
NVIDIA Corp.		3,023		441,781
Texas Instruments, Inc.		5,959		984,546
				3,479,248
Software — 6.8%
Adobe, Inc. (a)		1,417		476,863
Akamai Technologies, Inc. (a)		883		74,437
ANSYS, Inc. (a)		188		45,419
Autodesk, Inc. (a)		703		131,370
Cadence Design Systems, Inc. (a)		1,572		252,526
DocuSign, Inc. (a)		238		13,190
Electronic Arts, Inc.		2,080		254,134
Fidelity National Information Services, Inc.		2,876		195,137
Fiserv, Inc. (a)		2,735		276,427
HubSpot, Inc. (a)		51		14,746
Intuit, Inc.		870		338,621
Microsoft Corp.		17,570		4,213,637
MSCI, Inc.		179		83,265
Oracle Corp.		6,629		541,855
Paychex, Inc.		1,041		120,298
Salesforce, Inc. (a)		2,858		378,942
ServiceNow, Inc. (a)		504		195,688
Snowflake, Inc. Class A (a)		258		37,033
Splunk, Inc. (a)		152		13,086
Synopsys, Inc. (a)		652		208,177

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Unity Software, Inc. (a)		126	$	3,602
Veeva Systems, Inc. Class A (a)		156		25,175
VMware, Inc. Class A (a)		997		122,392
Workday, Inc. Class A (a)		399		66,765
Zoom Video Communications, Inc. Class A (a)		407		27,570
				8,110,355
				18,569,574
Utilities — 2.4%
Electric — 2.3%
Ameren Corp.		1,012		89,987
American Electric Power Co., Inc.		3,170		300,991
Avangrid, Inc.		137		5,888
CMS Energy Corp.		674		42,684
Consolidated Edison, Inc.		2,922		278,496
Dominion Energy, Inc.		2,043		125,277
DTE Energy Co.		847		99,548
Duke Energy Corp.		3,557		366,335
Edison International		1,530		97,339
Entergy Corp.		630		70,875
Eversource Energy		1,542		129,281
Exelon Corp.		2,772		119,834
FirstEnergy Corp.		2,304		96,630
NextEra Energy, Inc.		4,438		371,017
Public Service Enterprise Group, Inc.		1,756		107,590
Sempra Energy		819		126,568
WEC Energy Group, Inc.		2,063		193,427
Xcel Energy, Inc.		2,624		183,969
				2,805,736
Water — 0.1%
American Water Works Co., Inc.		488		74,381
				2,880,117
TOTAL COMMON STOCK (Cost $76,421,293)				76,887,545
TOTAL EQUITIES (Cost $76,421,293)				76,887,545
	Principal Amount
BONDS & NOTES — 38.1%
CORPORATE DEBT — 11.0%
Agriculture — 0.1%
Archer-Daniels-Midland Co.
2.700% 9/15/51	$	49,000		32,715
Bunge Ltd. Finance Corp.
1.630% 8/17/25		13,000		11,855
3.250% 8/15/26		47,000		43,836

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Cargill, Inc.
3.125% 5/25/51 (b)	$	74,000	$	51,391
				139,797
Airlines — 0.1%
American Airlines 2021-1 Class A Pass Through Trust
2.875% 1/11/36		69,000		55,666
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% 10/20/25 (b)		82,995		81,005
				136,671
Banks — 2.9%
Australia & New Zealand Banking Group Ltd. 5 year CMT + 1.700%
2.570% VRN 11/25/35 (b)		225,000		165,689
Bank of America Corp.
5 year CMT + 1.200% 2.482% VRN 9/21/36		162,000		119,436
SOFR + 1.330% 2.972% VRN 2/04/33		66,000		53,377
SOFR + 1.580% 3.311% VRN 4/22/42		135,000		99,685
4.183% 11/25/27		41,000		38,947
3 mo. USD LIBOR + 1.814% 4.244% VRN 4/24/38		23,000		19,630
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29		18,000		16,815
4.750% 4/21/45		63,000		53,949
5 year CMT + 3.231% 6.125% VRN (c)		162,000		158,962
7.750% 5/14/38		20,000		23,354
The Bank of New York Mellon Corp. 5 year CMT + 2.630%
3.750% VRN (c)		156,000		125,651
The Bank of Nova Scotia
4.500% 12/16/25		36,000		35,315
Citigroup, Inc.
SOFR + .528% 1.281% VRN 11/03/25		55,000		50,704
4.450% 9/29/27		27,000		25,801
SOFR + 2.086% 4.910% VRN 5/24/33		71,000		66,709
5.500% 9/13/25		54,000		54,375
5.875% 1/30/42		18,000		18,110
6.000% 10/31/33		16,000		16,056
6.625% 6/15/32		14,000		14,793
8.125% 7/15/39		14,000		17,280
Cooperatieve Rabobank UA 1 year CMT + .550%
1.106% VRN 2/24/27 (b)		250,000		218,638
The Goldman Sachs Group, Inc.
SOFR + .798% 1.431% VRN 3/09/27		227,000		199,063
SOFR + 1.090% 1.992% VRN 1/27/32		135,000		102,992
SOFR + 1.248% 2.383% VRN 7/21/32		76,000		59,169
SOFR + 1.410% 3.102% VRN 2/24/33		66,000		53,778
4.250% 10/21/25		32,000		31,274
5.950% 1/15/27		72,000		73,957
6.750% 10/01/37		32,000		34,043
JP Morgan Chase & Co.
3 mo. USD LIBOR + 1.160% 3.702% VRN 5/06/30		320,000		287,721
5.600% 7/15/41		41,000		41,208
KeyBank NA/Cleveland OH
3.900% 4/13/29		356,000		321,370
Mizuho Financial Group, Inc.
2.564% 9/13/31		200,000		152,838
Morgan Stanley
SOFR + 1.360% 2.484% VRN 9/16/36		203,000		147,701
SOFR + 1.485% 3.217% VRN 4/22/42		44,000		32,628

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
3 mo. USD LIBOR + 1.628% 4.431% VRN 1/23/30	$	154,000	$	144,128
The PNC Financial Services Group, Inc. SOFR + 1.850%
4.626% VRN 6/06/33		108,000		100,111
SVB Financial Group
1.800% 2/02/31		189,000		136,519
2.100% 5/15/28		87,000		72,064
3.125% 6/05/30		18,000		14,944
3.500% 1/29/25		77,000		73,977
				3,472,761
Biotechnology — 0.5%
Amgen, Inc.
2.200% 2/21/27		347,000		311,769
CSL Finance PLC
4.250% 4/27/32 (b)		65,000		61,416
4.750% 4/27/52 (b)		27,000		24,368
Illumina, Inc.
0.550% 3/23/23		194,000		192,011
				589,564
Commercial Services — 0.3%
Element Fleet Management Corp.
1.600% 4/06/24 (b)		21,000		19,901
Moody's Corp.
4.250% 2/01/29		209,000		200,400
PayPal Holdings, Inc.
3.250% 6/01/50		27,000		18,485
Triton Container International Ltd.
3.150% 6/15/31 (b)		100,000		78,097
				316,883
Computers — 0.2%
Apple, Inc.
1.650% 5/11/30		46,000		37,783
2.650% 5/11/50		27,000		18,013
3.000% 6/20/27		177,000		166,953
				222,749
Diversified Financial Services — 0.4%
Air Lease Corp.
2.200% 1/15/27		64,000		55,873
Ally Financial, Inc.
2.200% 11/02/28		112,000		87,495
Brookfield Finance, Inc.
3.900% 1/25/28		99,000		91,042
The Charles Schwab Corp. 10 year CMT + 3.079%
4.000% VRN (c)		93,000		74,163
CI Financial Corp.
3.200% 12/17/30		65,000		49,448
LSEGA Financing PLC
1.375% 4/06/26 (b)		218,000		191,848
				549,869

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Electric — 0.1%
Nevada Power Co.
6.650% 4/01/36	$	20,000	$	21,882
Xcel Energy, Inc.
6.500% 7/01/36		99,000		107,654
				129,536
Electronics — 0.1%
Vontier Corp.
2.400% 4/01/28		219,000		174,989
Entertainment — 0.1%
Magallanes, Inc. Co.
5.391% 3/15/62 (b)		37,000		26,928
Warnermedia Holdings, Inc.
5.141% 3/15/52 (b)		49,000		35,795
				62,723
Food — 0.3%
Conagra Brands, Inc.
4.850% 11/01/28		170,000		165,600
General Mills, Inc.
3.000% 2/01/51		112,000		77,227
Ingredion, Inc.
3.200% 10/01/26		25,000		23,418
Mars, Inc.
3.950% 4/01/49 (b)		67,000		55,106
				321,351
Health Care – Services — 0.6%
HCA, Inc.
5.000% 3/15/24		328,000		326,224
Kaiser Foundation Hospitals
2.810% 6/01/41		110,000		80,215
3.002% 6/01/51		80,000		54,944
Mayo Clinic
3.196% 11/15/61		106,000		71,165
Providence St Joseph Health Obligated Group
2.700% 10/01/51		93,000		55,343
UnitedHealth Group, Inc.
3.125% 5/15/60		36,000		24,624
4.750% 5/15/52		33,000		30,634
5.875% 2/15/53		25,000		27,050
				670,199
Insurance — 0.6%
Allstate Corp. 3 mo. USD LIBOR + 2.938%
5.750% VRN 8/15/53		158,000		148,520
American International Group, Inc. 3 mo. USD LIBOR + 2.868%
5.750% VRN 4/01/48		104,000		99,338
Arch Capital Finance LLC
5.031% 12/15/46		27,000		23,379
Arch Capital Group Ltd.
3.635% 6/30/50		49,000		34,059

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Athene Holding Ltd.
3.950% 5/25/51	$	16,000	$	10,874
Brighthouse Financial, Inc.
3.850% 12/22/51		68,000		42,662
GA Global Funding Trust
1.625% 1/15/26 (b)		37,000		32,885
Jackson Financial, Inc.
5.170% 6/08/27		78,000		77,019
New York Life Insurance Co.
3.750% 5/15/50 (b)		23,000		17,724
Prudential Financial, Inc.
5 year CMT + 3.035% 3.700% VRN 10/01/50		18,000		15,190
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43		41,000		40,283
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48		99,000		94,545
Reinsurance Group of America, Inc.
3.150% 6/15/30		49,000		41,740
3.900% 5/15/29		54,000		49,529
USF&G Capital I
8.500% 12/15/45 (b)		35,000		38,000
				765,747
Internet — 0.1%
Alphabet, Inc.
2.250% 8/15/60		32,000		18,199
Prosus NV
3.832% 2/08/51 (b)		233,000		141,748
				159,947
Investment Companies — 0.2%
Ares Capital Corp.
3.200% 11/15/31		161,000		118,542
Blackstone Secured Lending Fund
2.750% 9/16/26		158,000		139,021
				257,563
Media — 0.3%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500% 6/01/41		119,000		77,968
3.850% 4/01/61		80,000		46,462
6.484% 10/23/45		32,000		28,980
Comcast Corp.
2.937% 11/01/56		43,000		26,797
3.400% 7/15/46		41,000		30,168
3.969% 11/01/47		23,000		18,387
Discovery Communications LLC
3.950% 3/20/28		56,000		49,831
FactSet Research Systems, Inc.
3.450% 3/01/32		67,000		56,544
Time Warner Cable, Inc.
6.750% 6/15/39		27,000		25,614
The Walt Disney Co.
3.600% 1/13/51		58,000		44,430
				405,181

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Oil & Gas — 0.1%
BP Capital Markets America, Inc.
3.379% 2/08/61	$	95,000	$	65,534
BP Capital Markets PLC 5 year CMT + 4.036%
4.375% VRN (c)		58,000		55,390
				120,924
Packaging & Containers — 0.3%
Berry Global, Inc.
1.570% 1/15/26		48,000		42,805
Sealed Air Corp.
1.573% 10/15/26 (b)		44,000		38,044
Silgan Holdings, Inc.
1.400% 4/01/26 (b)		49,000		43,280
WRKCo, Inc.
3.000% 6/15/33		27,000		21,535
4.650% 3/15/26		192,000		188,545
				334,209
Pharmaceuticals — 0.2%
AbbVie, Inc.
4.700% 5/14/45		67,000		60,029
Becton Dickinson and Co.
4.685% 12/15/44		21,000		18,844
Bristol-Myers Squibb Co.
4.350% 11/15/47		27,000		23,863
Cigna Corp.
2.400% 3/15/30		100,000		83,945
3.400% 3/15/51		47,000		33,552
4.800% 7/15/46		27,000		24,378
CVS Health Corp.
5.050% 3/25/48		25,000		22,552
6.125% 9/15/39		8,000		8,254
				275,417
Pipelines — 1.0%
Enbridge, Inc.
2.500% 8/01/33		190,000		146,953
Enterprise Products Operating LLC
3 mo. USD LIBOR + 3.033% 5.250% VRN 8/16/77		41,000		33,036
3 mo. USD LIBOR + 2.570% 5.375% VRN 2/15/78		27,000		20,628
Kinder Morgan, Inc.
3.250% 8/01/50		100,000		64,895
4.800% 2/01/33		137,000		127,483
MPLX LP
1.750% 3/01/26		365,000		325,805
4.500% 4/15/38		27,000		22,866
ONEOK, Inc.
6.350% 1/15/31		200,000		203,754
Sabine Pass Liquefaction LLC
4.500% 5/15/30		100,000		92,937
The Williams Cos., Inc.
3.500% 10/15/51		45,000		30,874
4.650% 8/15/32		84,000		78,459

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.300% 8/15/52	$	40,000	$	36,002
				1,183,692
Real Estate — 0.2%
CBRE Services, Inc.
2.500% 4/01/31		243,000		192,157
Real Estate Investment Trusts (REITS) — 0.8%
Alexandria Real Estate Equities, Inc.
2.950% 3/15/34		78,000		63,410
American Tower Corp.
1.600% 4/15/26		96,000		85,466
2.700% 4/15/31		119,000		97,163
Brixmor Operating Partnership LP
2.250% 4/01/28		24,000		20,030
Crown Castle International Corp.
2.500% 7/15/31		88,000		71,157
3.700% 6/15/26		243,000		231,333
Crown Castle, Inc.
5.200% 2/15/49		11,000		9,956
Equinix, Inc.
3.900% 4/15/32		118,000		105,226
Extra Space Storage LP
2.350% 3/15/32		65,000		49,363
Host Hotels & Resorts LP
3.500% 9/15/30		84,000		69,528
Kimco Realty Corp.
2.250% 12/01/31		58,000		44,686
Kite Realty Group LP
4.000% 10/01/26		110,000		101,398
				948,716
Retail — 0.7%
Advance Auto Parts, Inc.
1.750% 10/01/27		13,000		10,939
3.900% 4/15/30		323,000		283,817
AutoZone, Inc.
1.650% 1/15/31		41,000		31,851
Dollar General Corp.
4.250% 9/20/24		83,000		81,879
The Home Depot, Inc.
2.375% 3/15/51		48,000		28,857
2.700% 4/15/30		97,000		84,622
Lowe's Cos., Inc.
3.000% 10/15/50		90,000		57,631
McDonald's Corp.
3.300% 7/01/25		182,000		176,071
Starbucks Corp.
4.450% 8/15/49		86,000		73,628
				829,295
Semiconductors — 0.3%
Microchip Technology, Inc.
0.983% 9/01/24		49,000		45,392
Micron Technology, Inc.
2.703% 4/15/32		75,000		56,537

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.185% 2/15/27	$	200,000	$	189,660
Skyworks Solutions, Inc.
1.800% 6/01/26		36,000		31,700
				323,289
Software — 0.3%
Electronic Arts, Inc.
2.950% 2/15/51		42,000		27,307
Microsoft Corp.
2.921% 3/17/52		80,000		57,146
Oracle Corp.
3.600% 4/01/40		197,000		146,430
6.900% 11/09/52		53,000		57,204
Workday, Inc.
3.800% 4/01/32		50,000		44,304
				332,391
Telecommunications — 0.2%
Verizon Communications, Inc.
3.550% 3/22/51		47,000		33,593
3.700% 3/22/61		47,000		33,067
3.875% 2/08/29		180,000		169,251
				235,911
Transportation — 0.0%
CSX Corp.
4.750% 11/15/48		18,000		16,373
TOTAL CORPORATE DEBT (Cost $16,007,248)				13,167,904
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 3.8%
Automobile Asset-Backed Securities — 0.5%
Avis Budget Rental Car Funding AESOP LLC, Series 2021-2A, Class A
1.660% 2/20/28 (b)		150,000		130,220
Enterprise Fleet Financing LLC, Series 2021-3, Class A3
1.220% 8/20/27 (b)		234,000		212,607
Hyundai Auto Receivables Trust, Series 2021-C, Class A4
1.030% 12/15/27		140,000		125,538
Toyota Auto Receivables Owner Trust, Series 2021-D, Class A4
1.020% 3/15/27		70,000		62,147
				530,512
Commercial Mortgage-Backed Securities — 1.1%
Bank
Series 2019-BN17, Class B, 4.128% VRN 4/15/52 (d)		29,000		24,646
Series 2019-BN16, Class AS, 4.267% 2/15/52		31,333		28,499
Series 2019-BN16, Class B, 4.438% VRN 2/15/52 (d)		24,330		20,932
BBCMS Mortgage Trust, Series 2020-C7, Class AS
2.444% 4/15/53		57,000		46,279
Benchmark Mortgage Trust
Series 2019-B14, Class AS, 3.352% 12/15/62		150,000		128,786
Series 2019-B9, Class AAB, 3.933% 3/15/52		274,000		260,567
BX Commercial Mortgage Trust

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2021-VOLT , Class C, 1 mo. USD LIBOR + .700% 5.018% FRN 9/15/36 (b)	$	115,000	$	110,792
Series 2021-VOLT , Class C, 1 mo. USD LIBOR + 1.100% 5.418% FRN 9/15/36 (b)		100,000		93,942
Citigroup Commercial Mortgage Trust, Series 2017-C4, Class C,
4.177% VRN 10/12/50 (d)		70,000		58,821
Commercial Mortgage Pass-Through Certificates, Series 2014-LC17, Class C,
4.544% VRN 10/10/47 (d)		100,000		92,839
GS Mortgage Securities Trust
Series 2020-GC45, Class A5, 2.911% 2/13/53		140,000		120,391
Series 2017-GS6, Class B, 3.869% 5/10/50		79,000		69,039
Life Mortgage Trust
Series 2021-BMR , Class A, 1 mo. USD LIBOR + .700% 5.018% FRN 3/15/38 (b)		98,297		95,198
Series 2021-BMR , Class B, 1 mo. USD LIBOR + .880% 5.198% FRN 3/15/38 (b)		98,297		93,940
Morgan Stanley Capital I Trust, Series 2018-H3, Class B,
4.620% VRN 7/15/51 (d)		20,000		17,383
Wells Fargo Commercial Mortgage Trust
Series 2018-C45, Class AS, 4.405% VRN 6/15/51 (d)		30,000		27,654
Series 2018-C45, Class B, 4.556% 6/16/51		10,000		8,688
				1,298,396
Other Asset-Backed Securities — 0.4%
AMSR Trust, Series 2021-SFR3, Class B
1.726% 10/17/38 (b)		130,000		109,562
Dllmt LLC, Series 2021-1A, Class A4
1.240% 6/20/29 (b)		150,000		138,022
MVW LLC, Series 2021-2A, Class A
1.430% 5/20/39 (b)		222,749		200,024
Progress Residential Trust, Series 2021-SFR10, Class A
2.393% 12/17/40 (b)		99,977		82,196
				529,804
Whole Loan Collateral Collateralized Mortgage Obligations — 1.8%
Angel Oak Mortgage Trust
Series 2021-8, Class A1, 1.820% VRN 11/25/66 (b) (d)		237,983		199,915
Series 2022-1, Class A1, 2.881% STEP 12/25/66 (b)		244,367		216,447
Bayview MSR Opportunity Master Fund Trust
Series 2021-5, Class A2, 2.500% VRN 11/25/51 (b) (d)		134,292		107,801
Series 2021-5, Class A1, 3.000% VRN 11/25/51 (b) (d)		110,134		92,117
Ellington Financial Mortgage Trust, Series 2022-3, Class A1,
5.000% STEP 8/25/67 (b)		221,125		218,737
Flagstar Mortgage Trust, Series 2021-11IN, Class A6,
2.500% VRN 11/25/51 (b) (d)		233,088		200,784
Imperial Fund Mortgage Trust, Series 2021-NQM3, Class A1,
1.595% VRN 11/25/56 (b) (d)		149,050		122,632
JP Morgan Mortgage Trust
Series 2021-LTV2, Class A1, 2.520% VRN 5/25/52 (b) (d)		249,664		204,288
Series 2022-8, Class A4A, 4.000% VRN 1/25/53 (b) (d)		154,692		145,374
Onslow Bay Financial LLC, Series 2022-NQM1, Class A1,
2.305% VRN 11/25/61 (b) (d)		228,869		195,766
Starwood Mortgage Residential Trust
Series 2021-6, Class A1, 1.920% VRN 11/25/66 (b) (d)		258,267		214,039

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2022-1, Class A1, 2.447% VRN 12/25/66 (b) (d)	$	275,642	$	236,050
				2,153,950
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $5,173,569)				4,512,662
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (e) — 9.6%
Pass-Through Securities — 9.6%
Federal Home Loan Mortgage Corp.
Pool #RA6233 2.000% 11/01/51		518,341		424,637
Pool #SD8212 2.500% 5/01/52		765,462		651,189
Pool #SD8174 3.000% 10/01/51		429,895		379,703
Pool #RA7484 4.000% 6/01/52		459,307		432,033
Pool #SD1351 4.500% 7/01/52		426,866		412,522
Pool #SD1628 5.000% 9/01/52		418,100		413,278
Federal National Mortgage Association
Pool #CB1787 2.000% 10/01/51		499,346		409,543
Pool #CB1782 2.000% 10/01/51		754,791		619,049
Pool #MA4562 2.000% 3/01/52		959,278		785,262
Pool #MA4361 2.500% 6/01/36		304,507		280,107
Pool #CB2074 2.500% 11/01/51		393,482		335,539
Pool #FS2635 2.500% 5/01/52		474,328		405,000
Pool #BO7245 3.000% 1/01/50		292,509		260,654
Pool #FS2600 3.000% 5/01/52		492,187		435,395
Pool #BU8819 3.500% 5/01/52		490,133		446,661
Pool #CB3859 4.000% 6/01/52		241,689		227,488
Pool #CB4404 5.000% 8/01/52		416,537		411,734
Uniform Mortgage Backed Securities TBA
2.000% 1/17/38 (f)		1,500,000		1,338,516
2.500% 12/25/51 (f)		485,000		412,098
3.000% 2/25/52 (f)		400,000		352,156
3.500% 4/25/52 (f)		1,000,000		911,016
4.000% 6/25/52 (f)		750,000		705,234
4.500% 7/25/52 (f)		511,000		493,195
				11,542,009
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $12,259,805)				11,542,009
U.S. TREASURY OBLIGATIONS — 13.7%
U.S. Treasury Bonds & Notes — 13.7%
U.S. Treasury Bond
2.250% 8/15/49		873,900		621,468
3.000% 8/15/52		1,286,600		1,073,196
4.000% 11/15/42		1,448,200		1,428,319
U.S. Treasury Note
0.375% 4/30/25		2,243,600		2,049,464
2.250% 4/30/24		550,000		532,710
2.750% 4/30/27		1,700,000		1,613,620
2.875% 4/30/29		1,050,000		985,520
3.875% 11/30/27		1,320,500		1,315,225
3.875% 11/30/29		1,529,400		1,522,824
4.000% 12/15/25		1,326,400		1,319,403
4.125% 11/15/32		1,920,200		1,964,713

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.500% 11/30/24	$	1,945,600	$	1,946,773
				16,373,235
TOTAL U.S. TREASURY OBLIGATIONS (Cost $16,944,124)				16,373,235
TOTAL BONDS & NOTES (Cost $50,384,746)				45,595,810
TOTAL LONG-TERM INVESTMENTS (Cost $126,806,039)				122,483,355
SHORT-TERM INVESTMENTS — 0.7%
Repurchase Agreement — 0.6%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (g)		699,392		699,392
U.S. Treasury Bill — 0.1%
U.S. Treasury Bill
3.760% 3/09/23 (h) (i)		4,000		3,969
4.535% 5/11/23 (h) (i)		8,000		7,871
4.540% 5/11/23 (h) (i)		1,000		984
4.542% 5/11/23 (h) (i)		4,000		3,935
4.544% 5/11/23 (h) (i)		92,000		90,515
				107,274
TOTAL SHORT-TERM INVESTMENTS (Cost $806,689)				806,666
TOTAL INVESTMENTS — 102.9% (Cost $127,612,728) (j)				123,290,021
Other Assets/(Liabilities) — (2.9)%				(3,441,382)
NET ASSETS — 100.0%			$	119,848,639

Abbreviation Legend

FRN Floating Rate Note

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $4,742,316 or 3.96% of net assets.

(c) Security is perpetual and has no stated maturity date.

(d) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2022.

(e) May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency.

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

(g) Maturity value of $699,491. Collateralized by U.S. Government Agency obligations with a rate of 3.000%, maturity date of 6/30/24, and an aggregate market value, including accrued interest, of $713,436.

(h) The rate shown represents yield-to-maturity.

(i) All or a portion of this security is pledged/held as collateral for open derivatives.

(j) See Note 3 for aggregate cost for federal tax purposes.

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Short
U.S. Treasury Note 10 Year	3/22/23		17	$	(1,920,167)	$	11,120
U.S. Treasury Ultra 10 Year	3/22/23		11		(1,308,633)		7,539
U.S. Treasury Note 2 Year	3/31/23		6		(1,229,051)		(1,418)
U.S. Treasury Note 5 Year	3/31/23		9		(971,899)		532
						$	17,773

MassMutual Disciplined Value Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.6%
COMMON STOCK — 99.6%
Basic Materials — 3.4%
Chemicals — 2.0%
Albemarle Corp.		1,979	$	429,166
LyondellBasell Industries NV Class A		8,115		673,789
The Mosaic Co.		1,407		61,725
Westlake Corp.		3,171		325,154
				1,489,834
Iron & Steel — 1.4%
Nucor Corp.		2,427		319,903
Reliance Steel & Aluminum Co.		1,083		219,242
Steel Dynamics, Inc.		4,681		457,334
				996,479
				2,486,313
Communications — 5.7%
Advertising — 1.2%
Omnicom Group, Inc.		10,864		886,176
Internet — 2.1%
F5, Inc. (a)		476		68,311
GoDaddy, Inc. Class A (a)		2,316		173,283
Meta Platforms, Inc. Class A (a)		10,615		1,277,409
				1,519,003
Media — 0.8%
Altice USA, Inc. Class A (a)		24,218		111,403
DISH Network Corp. Class A (a)		8,360		117,375
Paramount Global Class B		9,472		159,887
Warner Bros Discovery, Inc. (a)		23,188		219,822
				608,487
Telecommunications — 1.6%
Cisco Systems, Inc.		20,131		959,041
Lumen Technologies, Inc.		39,786		207,683
				1,166,724
				4,180,390

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Consumer, Cyclical — 5.7%
Apparel — 0.3%
Capri Holdings Ltd. (a)		3,363	$	192,767
Auto Parts & Equipment — 0.4%
BorgWarner, Inc.		7,608		306,222
Distribution & Wholesale — 0.2%
Core & Main, Inc. Class A (a)		3,759		72,586
WESCO International, Inc. (a)		544		68,109
				140,695
Entertainment — 0.2%
Penn Entertainment, Inc. (a)		5,252		155,984
Home Builders — 0.2%
NVR, Inc. (a)		37		170,666
Leisure Time — 0.3%
Brunswick Corp.		1,655		119,292
Polaris, Inc.		837		84,537
				203,829
Retail — 4.1%
Advance Auto Parts, Inc.		876		128,798
AutoNation, Inc. (a)		2,134		228,978
Lithia Motors, Inc.		414		84,763
Macy's, Inc.		5,411		111,737
McDonald's Corp.		3,105		818,261
Penske Automotive Group, Inc.		669		76,888
RH (a)		287		76,684
Walmart, Inc.		10,590		1,501,556
				3,027,665
				4,197,828
Consumer, Non-cyclical — 27.9%
Agriculture — 1.6%
Altria Group, Inc.		6,772		309,548
Philip Morris International, Inc.		8,537		864,030
				1,173,578
Beverages — 1.2%
PepsiCo, Inc.		4,780		863,555
Biotechnology — 0.8%
Moderna, Inc. (a)		1,977		355,109
Vertex Pharmaceuticals, Inc. (a)		720		207,921
				563,030
Commercial Services — 3.3%
Avis Budget Group, Inc. (a)		543		89,014
Clarivate PLC (a)		17,461		145,625
Dun & Bradstreet Holdings, Inc.		8,498		104,185

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Equifax, Inc.		992	$	192,805
Global Payments, Inc.		4,005		397,777
Robert Half International, Inc.		1,568		115,765
S&P Global, Inc.		1,437		481,309
United Rentals, Inc. (a)		2,055		730,388
WEX, Inc. (a)		1,288		210,781
				2,467,649
Cosmetics & Personal Care — 2.1%
The Procter & Gamble Co.		10,152		1,538,637
Food — 3.0%
Campbell Soup Co.		4,563		258,950
General Mills, Inc.		6,832		572,863
Kellogg Co.		9,413		670,582
Mondelez International, Inc. Class A		10,519		701,092
				2,203,487
Health Care – Products — 6.5%
Abbott Laboratories		9,653		1,059,803
Align Technology, Inc. (a)		1,478		311,710
Danaher Corp.		4,798		1,273,485
Hologic, Inc. (a)		7,144		534,443
Quidelortho Corp. (a)		1,755		150,351
Thermo Fisher Scientific, Inc.		2,592		1,427,388
				4,757,180
Health Care – Services — 2.4%
Centene Corp. (a)		1,867		153,113
Elevance Health, Inc.		1,095		561,702
Quest Diagnostics, Inc.		531		83,070
Syneos Health, Inc. (a)		2,783		102,080
UnitedHealth Group, Inc.		1,635		866,844
				1,766,809
Household Products & Wares — 0.5%
Kimberly-Clark Corp.		2,998		406,979
Pharmaceuticals — 6.5%
Bristol-Myers Squibb Co.		17,297		1,244,519
Henry Schein, Inc. (a)		3,845		307,100
Jazz Pharmaceuticals PLC (a)		2,776		442,245
McKesson Corp.		2,294		860,525
Pfizer, Inc.		37,983		1,946,249
				4,800,638
				20,541,542
Energy — 7.2%
Oil & Gas — 7.2%
Chevron Corp.		7,231		1,297,892
ConocoPhillips		10,789		1,273,102
Exxon Mobil Corp.		13,214		1,457,504
HF Sinclair Corp.		5,961		309,316
Marathon Oil Corp.		16,364		442,974

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Pioneer Natural Resources Co.		529	$	120,819
Valero Energy Corp.		2,799		355,081
				5,256,688
				5,256,688
Financial — 28.5%
Banks — 6.5%
The Bank of New York Mellon Corp.		8,836		402,215
Citigroup, Inc.		20,861		943,543
East West Bancorp, Inc.		6,078		400,540
JP Morgan Chase & Co.		15,789		2,117,305
KeyCorp.		31,196		543,434
State Street Corp.		1,064		82,535
US Bancorp		6,887		300,342
				4,789,914
Diversified Financial Services — 5.0%
Affiliated Managers Group, Inc.		4,393		695,983
Apollo Global Management, Inc.		6,191		394,924
Capital One Financial Corp.		1,761		163,702
The Charles Schwab Corp.		2,960		246,450
CME Group, Inc.		625		105,100
Discover Financial Services		3,267		319,611
Franklin Resources, Inc.		4,018		105,995
Intercontinental Exchange, Inc.		3,362		344,907
Nasdaq, Inc.		13,328		817,673
Synchrony Financial		5,259		172,811
Virtu Financial, Inc. Class A		17,027		347,521
				3,714,677
Insurance — 10.2%
Aflac, Inc.		13,872		997,952
American International Group, Inc.		2,872		181,625
Arthur J Gallagher & Co.		4,609		868,981
Berkshire Hathaway, Inc. Class B (a)		9,128		2,819,639
Brown & Brown, Inc.		8,213		467,895
Fidelity National Financial, Inc.		15,010		564,676
Globe Life, Inc.		2,413		290,887
Loews Corp.		8,135		474,515
MetLife, Inc.		9,450		683,896
Reinsurance Group of America, Inc.		568		80,707
Voya Financial, Inc.		1,253		77,047
				7,507,820
Real Estate — 0.9%
CBRE Group, Inc. Class A (a)		8,811		678,094
Real Estate Investment Trusts (REITS) — 5.7%
AGNC Investment Corp.		82,364		852,467
Healthcare Realty Trust, Inc.		22,109		426,040
Highwoods Properties, Inc.		8,266		231,283
Kimco Realty Corp.		15,306		324,181
Omega Healthcare Investors, Inc.		5,445		152,188
Park Hotels & Resorts, Inc.		14,944		176,190

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Realty Income Corp.		12,868	$	816,217
SBA Communications Corp.		2,212		620,046
SL Green Realty Corp. (b)		1,711		57,695
STORE Capital Corp.		11,369		364,490
WP Carey, Inc.		1,887		147,469
				4,168,266
Savings & Loans — 0.2%
New York Community Bancorp, Inc.		16,122		138,649
				20,997,420
Industrial — 10.9%
Aerospace & Defense — 2.8%
General Dynamics Corp.		2,727		676,596
Raytheon Technologies Corp.		12,273		1,238,591
TransDigm Group, Inc.		254		159,931
				2,075,118
Building Materials — 0.2%
Builders FirstSource, Inc. (a)		1,633		105,949
Electrical Components & Equipment — 1.1%
Emerson Electric Co.		7,929		761,660
Electronics — 1.6%
Arrow Electronics, Inc. (a)		6,226		651,053
National Instruments Corp.		7,590		280,071
nVent Electric PLC		5,123		197,082
Vontier Corp.		3,806		73,570
				1,201,776
Hand & Machine Tools — 0.3%
Regal Rexnord Corp.		1,905		228,562
Machinery – Diversified — 1.0%
Ingersoll Rand, Inc.		12,709		664,045
The Middleby Corp. (a)		593		79,403
				743,448
Miscellaneous - Manufacturing — 1.4%
3M Co.		8,216		985,263
Carlisle Cos., Inc.		297		69,988
				1,055,251
Packaging & Containers — 0.5%
Sonoco Products Co.		1,107		67,206
WestRock Co.		8,163		287,011
				354,217
Transportation — 2.0%
C.H. Robinson Worldwide, Inc.		5,352		490,029
Expeditors International of Washington, Inc.		3,221		334,726
Knight-Swift Transportation Holdings, Inc.		2,962		155,238

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Landstar System, Inc.		3,093	$	503,850
				1,483,843
				8,009,824
Technology — 8.6%
Computers — 2.2%
CACI International, Inc. Class A (a)		379		113,924
Dell Technologies, Inc. Class C		5,799		233,236
International Business Machines Corp.		1,651		232,609
Leidos Holdings, Inc.		1,902		200,071
Science Applications International Corp.		7,360		816,445
				1,596,285
Office & Business Equipment — 0.2%
Zebra Technologies Corp. Class A (a)		636		163,077
Semiconductors — 3.4%
Analog Devices, Inc.		6,285		1,030,929
Microchip Technology, Inc.		6,214		436,533
ON Semiconductor Corp. (a)		1,451		90,499
Texas Instruments, Inc.		5,650		933,493
				2,491,454
Software — 2.8%
Activision Blizzard, Inc.		2,756		210,972
ANSYS, Inc. (a)		840		202,936
Black Knight, Inc. (a)		3,528		217,854
Doximity, Inc. Class A (a)		6,515		218,643
Nutanix, Inc. Class A (a)		12,832		334,273
Oracle Corp.		6,553		535,642
Playtika Holding Corp. (a)		6,880		58,549
Tyler Technologies, Inc. (a)		209		67,384
VMware, Inc. Class A (a)		1,901		233,367
				2,079,620
				6,330,436
Utilities — 1.7%
Electric — 0.7%
NRG Energy, Inc.		17,137		545,299
Gas — 1.0%
National Fuel Gas Co.		10,989		695,604
				1,240,903
TOTAL COMMON STOCK (Cost $70,288,918)				73,241,344
TOTAL EQUITIES (Cost $70,288,918)				73,241,344
TOTAL LONG-TERM INVESTMENTS (Cost $70,288,918)				73,241,344

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 1.0%
Repurchase Agreement — 1.0%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (c)	$	754,116	$	754,116
TOTAL SHORT-TERM INVESTMENTS (Cost $754,116)				754,116
TOTAL INVESTMENTS — 100.6% (Cost $71,043,034) (d)				73,995,460
Other Assets/(Liabilities) — (0.6)%				(418,178)
NET ASSETS — 100.0%			$	73,577,282

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $57,156 or 0.08% of net assets. The Fund received $58,696 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(c) Maturity value of $754,223. Collateralized by U.S. Government Agency obligations with a rate of 3.000%, maturity date of 6/30/24, and an aggregate market value, including accrued interest, of $769,202.

(d) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Main Street Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 100.3%
COMMON STOCK — 100.3%
Basic Materials — 1.3%
Chemicals — 1.3%
DuPont de Nemours, Inc.		2,669	$	183,174
Valvoline, Inc.		21,919		715,655
				898,829
				898,829
Communications — 10.1%
Advertising — 1.0%
The Interpublic Group of Cos., Inc.		20,673		688,618
Internet — 7.0%
Airbnb, Inc. Class A (a)		8,223		703,066
Alphabet, Inc. Class A (a)		13,221		1,166,489
Meta Platforms, Inc. Class A (a)		9,596		1,154,783
Netflix, Inc. (a)		6,364		1,876,616
				4,900,954
Telecommunications — 2.1%
Motorola Solutions, Inc.		2,144		552,530
T-Mobile US, Inc. (a)		3,303		462,420
Verizon Communications, Inc.		12,045		474,573
				1,489,523
				7,079,095
Consumer, Cyclical — 4.5%
Auto Manufacturers — 1.1%
General Motors Co.		22,724		764,435
Auto Parts & Equipment — 0.3%
Mobileye Global, Inc. Class A (a)		5,100		178,806
Retail — 3.1%
Dollar General Corp.		1,758		432,908
O'Reilly Automotive, Inc. (a)		1,199		1,011,992
Starbucks Corp.		7,582		752,134
				2,197,034
				3,140,275

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Consumer, Non-cyclical — 21.1%
Agriculture — 1.1%
British American Tobacco PLC Sponsored ADR (b)		18,568	$	742,349
Beverages — 5.0%
The Coca-Cola Co.		19,109		1,215,523
Constellation Brands, Inc. Class A		5,702		1,321,439
PepsiCo, Inc.		5,528		998,688
				3,535,650
Biotechnology — 1.9%
Gilead Sciences, Inc.		9,702		832,917
Seagen, Inc. (a)		3,782		486,025
				1,318,942
Commercial Services — 0.6%
Equifax, Inc.		2,020		392,607
Cosmetics & Personal Care — 0.5%
Coty, Inc. Class A (a)		43,438		371,829
Food — 0.5%
Sysco Corp.		4,958		379,039
Health Care – Products — 0.9%
Zimmer Biomet Holdings, Inc.		5,114		652,035
Health Care – Services — 5.5%
HCA Healthcare, Inc.		5,996		1,438,800
Tenet Healthcare Corp. (a)		13,630		665,008
UnitedHealth Group, Inc.		3,251		1,723,615
				3,827,423
Pharmaceuticals — 5.1%
AstraZeneca PLC Sponsored ADR		20,197		1,369,357
Bristol-Myers Squibb Co.		9,011		648,341
CVS Health Corp.		10,412		970,294
Eli Lilly & Co.		1,507		551,321
				3,539,313
				14,759,187
Energy — 5.2%
Oil & Gas — 4.3%
APA Corp.		16,931		790,339
Exxon Mobil Corp.		20,165		2,224,200
				3,014,539
Pipelines — 0.9%
Cheniere Energy, Inc.		1,988		298,120

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Magellan Midstream Partners LP (c)		6,847	$	343,788
				641,908
				3,656,447
Financial — 19.9%
Banks — 4.5%
First Citizens BancShares, Inc. Class A		782		593,037
JP Morgan Chase & Co.		18,898		2,534,222
				3,127,259
Diversified Financial Services — 8.8%
American Express Co.		8,021		1,185,103
The Charles Schwab Corp.		14,113		1,175,049
Intercontinental Exchange, Inc.		7,756		795,688
Mastercard, Inc. Class A		4,184		1,454,902
Rocket Cos., Inc. Class A		40,884		286,188
Visa, Inc. Class A		5,946		1,235,341
				6,132,271
Insurance — 3.8%
The Allstate Corp.		9,232		1,251,859
Equitable Holdings, Inc.		50,113		1,438,243
				2,690,102
Real Estate Investment Trusts (REITS) — 2.8%
Prologis, Inc.		17,676		1,992,616
				13,942,248
Industrial — 12.9%
Aerospace & Defense — 1.8%
Lockheed Martin Corp.		1,170		569,193
Raytheon Technologies Corp.		6,982		704,624
				1,273,817
Building Materials — 1.5%
Vulcan Materials Co.		5,820		1,019,140
Electronics — 1.6%
Honeywell International, Inc.		5,165		1,106,859
Environmental Controls — 0.7%
Waste Connections, Inc.		3,776		500,547
Machinery – Diversified — 3.5%
Deere & Co.		2,881		1,235,258
Otis Worldwide Corp.		15,805		1,237,689
				2,472,947
Transportation — 3.8%
Union Pacific Corp.		3,673		760,568

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
United Parcel Service, Inc. Class B		10,755	$	1,869,649
				2,630,217
				9,003,527
Technology — 22.4%
Computers — 5.9%
Amdocs Ltd.		5,323		483,861
Apple, Inc.		26,815		3,484,073
Crowdstrike Holdings, Inc. Class A (a)		1,379		145,195
				4,113,129
Semiconductors — 4.0%
Advanced Micro Devices, Inc. (a)		12,137		786,113
Applied Materials, Inc.		8,807		857,626
Monolithic Power Systems, Inc.		467		165,136
QUALCOMM, Inc.		9,429		1,036,624
				2,845,499
Software — 12.5%
Electronic Arts, Inc.		2,801		342,226
Fiserv, Inc. (a)		9,999		1,010,599
Manhattan Associates, Inc. (a)		1,967		238,794
Microsoft Corp.		16,828		4,035,691
ServiceNow, Inc. (a)		1,128		437,968
Synopsys, Inc. (a)		2,004		639,857
Tyler Technologies, Inc. (a)		1,460		470,719
VMware, Inc. Class A (a)		12,785		1,569,487
				8,745,341
				15,703,969
Utilities — 2.9%
Electric — 2.9%
FirstEnergy Corp.		30,019		1,258,997
The Southern Co.		11,266		804,505
				2,063,502
TOTAL COMMON STOCK (Cost $65,848,170)				70,247,079
TOTAL EQUITIES (Cost $65,848,170)				70,247,079

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
MUTUAL FUNDS — 1.1%
Diversified Financial Services — 1.1%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		753,662	$	753,662
TOTAL MUTUAL FUNDS (Cost $753,662)				753,662
TOTAL LONG-TERM INVESTMENTS (Cost $66,601,832)				71,000,741
	Principal Amount
SHORT-TERM INVESTMENTS — 0.6%
Repurchase Agreement — 0.6%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (e)	$	459,214		459,214
TOTAL SHORT-TERM INVESTMENTS (Cost $459,214)				459,214
TOTAL INVESTMENTS — 102.0% (Cost $67,061,046) (f)				71,459,955
Other Assets/(Liabilities) — (2.0)%				(1,400,672)
NET ASSETS — 100.0%			$	70,059,283

Abbreviation Legend

ADR American Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $734,912 or 1.05% of net assets. (Note 2).

(c) Security is a Master Limited Partnership.

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

(e) Maturity value of $459,280. Collateralized by U.S. Government Agency obligations with a rate of 3.000%, maturity date of 6/30/24, and an aggregate market value, including accrued interest, of $468,495.

(f) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Disciplined Growth Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.2%
COMMON STOCK — 99.2%
Basic Materials — 1.3%
Chemicals — 1.3%
Albemarle Corp.		4,299	$	932,281
CF Industries Holdings, Inc.		6,595		561,894
The Mosaic Co.		10,656		467,479
				1,961,654
Communications — 15.5%
Internet — 12.7%
Airbnb, Inc. Class A (a)		5,455		466,403
Alphabet, Inc. Class A (a)		53,512		4,721,364
Alphabet, Inc. Class C (a)		31,985		2,838,029
Amazon.com, Inc. (a)		64,505		5,418,420
CDW Corp.		10,639		1,899,913
eBay, Inc.		24,571		1,018,959
Meta Platforms, Inc. Class A (a)		13,283		1,598,476
Netflix, Inc. (a)		1,913		564,105
VeriSign, Inc. (a)		1,712		351,713
				18,877,382
Media — 1.7%
Cable One, Inc.		224		159,457
Charter Communications, Inc. Class A (a)		2,211		749,750
FactSet Research Systems, Inc.		3,963		1,589,995
				2,499,202
Telecommunications — 1.1%
Arista Networks, Inc. (a)		12,852		1,559,590
				22,936,174
Consumer, Cyclical — 10.2%
Apparel — 0.3%
Deckers Outdoor Corp. (a)		995		397,164
Auto Manufacturers — 1.9%
Tesla, Inc. (a)		23,257		2,864,797
Auto Parts & Equipment — 0.2%
Allison Transmission Holdings, Inc.		6,968		289,869
Distribution & Wholesale — 1.4%
Core & Main, Inc. Class A (a)		65,412		1,263,106

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Watsco, Inc.		3,019	$	752,938
				2,016,044
Entertainment — 0.5%
Caesars Entertainment, Inc. (a)		11,977		498,243
DraftKings, Inc. Class A (a) (b)		28,063		319,638
				817,881
Home Builders — 0.1%
D.R. Horton, Inc.		1,848		164,731
Leisure Time — 0.5%
Brunswick Corp.		5,659		407,901
YETI Holdings, Inc. (a)		9,187		379,515
				787,416
Lodging — 0.9%
Marriott International, Inc. Class A		8,829		1,314,550
Retail — 4.4%
AutoZone, Inc. (a)		323		796,576
Costco Wholesale Corp.		4,326		1,974,819
Lowe's Cos., Inc.		2,826		563,052
Lululemon Athletica, Inc. (a)		4,030		1,291,131
RH (a) (b)		1,506		402,388
Ulta Beauty, Inc. (a)		1,338		627,616
Williams-Sonoma, Inc.		7,418		852,477
				6,508,059
				15,160,511
Consumer, Non-cyclical — 19.1%
Beverages — 2.2%
The Coca-Cola Co.		25,616		1,629,434
PepsiCo, Inc.		8,718		1,574,994
				3,204,428
Biotechnology — 2.4%
Exelixis, Inc. (a)		65,908		1,057,164
Maravai LifeSciences Holdings, Inc. Class A (a)		31,614		452,397
Moderna, Inc. (a)		1,790		321,520
Novavax, Inc. (a) (b)		7,458		76,668
Regeneron Pharmaceuticals, Inc. (a)		872		629,139
Vertex Pharmaceuticals, Inc. (a)		3,786		1,093,321
				3,630,209
Commercial Services — 4.0%
Automatic Data Processing, Inc.		1,242		296,664
FleetCor Technologies, Inc. (a)		4,629		850,255
Gartner, Inc. (a)		5,277		1,773,811
MarketAxess Holdings, Inc.		682		190,203
Paylocity Holding Corp. (a)		726		141,033
Robert Half International, Inc.		1,943		143,452
United Rentals, Inc. (a)		4,770		1,695,353

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Verisk Analytics, Inc.		3,291	$	580,598
WEX, Inc. (a)		1,179		192,943
				5,864,312
Cosmetics & Personal Care — 1.3%
Colgate-Palmolive Co.		5,962		469,746
The Procter & Gamble Co.		9,434		1,429,817
				1,899,563
Food — 0.2%
The Hershey Co.		1,549		358,702
Health Care – Products — 1.2%
Danaher Corp.		2,583		685,580
Thermo Fisher Scientific, Inc.		2,095		1,153,695
				1,839,275
Health Care – Services — 4.4%
Elevance Health, Inc.		2,002		1,026,966
UnitedHealth Group, Inc.		10,272		5,446,009
				6,472,975
Household Products & Wares — 0.4%
Church & Dwight Co., Inc.		7,986		643,752
Pharmaceuticals — 3.0%
AbbVie, Inc.		17,545		2,835,447
AmerisourceBergen Corp.		9,408		1,559,000
				4,394,447
				28,307,663
Energy — 1.9%
Energy – Alternate Sources — 0.3%
Enphase Energy, Inc. (a)		1,697		449,637
Oil & Gas — 1.6%
Antero Resources Corp. (a)		6,622		205,216
Coterra Energy, Inc.		14,450		355,037
PDC Energy, Inc.		4,842		307,370
Pioneer Natural Resources Co.		2,831		646,572
Texas Pacific Land Corp.		389		911,905
				2,426,100
				2,875,737
Financial — 8.9%
Diversified Financial Services — 6.5%
LPL Financial Holdings, Inc.		7,564		1,635,110
Mastercard, Inc. Class A		8,332		2,897,286
Tradeweb Markets, Inc. Class A		6,387		414,708
Visa, Inc. Class A		22,582		4,691,636
				9,638,740

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Insurance — 2.1%
Arthur J Gallagher & Co.		9,010	$	1,698,746
Brown & Brown, Inc.		25,293		1,440,942
				3,139,688
Real Estate Investment Trusts (REITS) — 0.3%
Simon Property Group, Inc.		3,811		447,716
				13,226,144
Industrial — 6.5%
Aerospace & Defense — 1.0%
Lockheed Martin Corp.		3,050		1,483,794
Electronics — 1.2%
Arrow Electronics, Inc. (a)		14,211		1,486,044
National Instruments Corp.		7,979		294,425
				1,780,469
Machinery – Diversified — 0.9%
Graco, Inc.		7,321		492,411
IDEX Corp.		2,725		622,199
Nordson Corp.		854		203,013
				1,317,623
Miscellaneous - Manufacturing — 1.1%
Carlisle Cos., Inc.		6,982		1,645,308
Transportation — 2.3%
C.H. Robinson Worldwide, Inc.		11,096		1,015,950
Expeditors International of Washington, Inc.		6,222		646,590
Landstar System, Inc.		10,713		1,745,148
				3,407,688
				9,634,882
Technology — 35.8%
Computers — 14.0%
Accenture PLC Class A		11,270		3,007,287
Apple, Inc.		128,183		16,654,817
EPAM Systems, Inc. (a)		613		200,905
Fortinet, Inc. (a)		17,818		871,122
				20,734,131
Semiconductors — 7.0%
Advanced Micro Devices, Inc. (a)		13,813		894,668
Analog Devices, Inc.		10,026		1,644,565
Broadcom, Inc.		6,617		3,699,763
KLA Corp.		2,499		942,198
Microchip Technology, Inc.		17,028		1,196,217
Monolithic Power Systems, Inc.		1,153		407,712
NVIDIA Corp.		5,932		866,903

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
QUALCOMM, Inc.		5,949	$	654,033
				10,306,059
Software — 14.8%
Adobe, Inc. (a)		6,789		2,284,702
AppLovin Corp. (a) (b)		9,352		98,477
Doximity, Inc. Class A (a)		7,767		260,661
Dynatrace, Inc. (a)		5,405		207,011
Fair Isaac Corp. (a)		918		549,496
Intuit, Inc.		3,916		1,524,185
Microsoft Corp.		66,844		16,030,528
Paychex, Inc.		4,592		530,652
Playtika Holding Corp. (a)		17,440		148,414
Synopsys, Inc. (a)		489		156,133
ZoomInfo Technologies, Inc. (a)		7,798		234,798
				22,025,057
				53,065,247
TOTAL COMMON STOCK (Cost $158,651,854)				147,168,012
TOTAL EQUITIES (Cost $158,651,854)				147,168,012
MUTUAL FUNDS — 0.2%
Diversified Financial Services — 0.2%
State Street Navigator Securities Lending Prime Portfolio (c)		299,005		299,005
TOTAL MUTUAL FUNDS (Cost $299,005)				299,005
TOTAL LONG-TERM INVESTMENTS (Cost $158,950,859)				147,467,017

	Principal Amount
SHORT-TERM INVESTMENTS — 0.9%
Repurchase Agreement — 0.9%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (d)	$	1,272,122		1,272,122
TOTAL SHORT-TERM INVESTMENTS (Cost $1,272,122)				1,272,122
TOTAL INVESTMENTS — 100.3% (Cost $160,222,981) (e)				148,739,139
Other Assets/(Liabilities) — (0.3)%				(387,136)
NET ASSETS — 100.0%			$	148,352,003

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $605,994 or 0.41% of net assets. The Fund received $321,189 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

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

(d) Maturity value of $1,272,303. Collateralized by U.S. Government Agency obligations with a rate of 0.000%, maturity date of 6/29/23, and an aggregate market value, including accrued interest, of $1,297,570.

(e) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.4%
COMMON STOCK — 98.4%
Basic Materials — 2.5%
Chemicals — 0.7%
NewMarket Corp.		6,765	$	2,104,659
Mining — 1.8%
Compass Minerals International, Inc.		68,636		2,814,076
Kaiser Aluminum Corp.		38,429		2,919,067
				5,733,143
				7,837,802
Communications — 1.8%
Internet — 1.8%
Ziff Davis, Inc. (a)		72,689		5,749,700
Consumer, Cyclical — 11.4%
Auto Parts & Equipment — 3.6%
Allison Transmission Holdings, Inc.		76,286		3,173,498
Dorman Products, Inc. (a)		47,983		3,880,385
Visteon Corp. (a)		31,792		4,159,347
				11,213,230
Home Builders — 0.6%
Skyline Champion Corp. (a)		35,160		1,811,092
Home Furnishing — 0.7%
Tempur Sealy International, Inc.		63,049		2,164,472
Leisure Time — 0.6%
Topgolf Callaway Brands Corp. (a)		92,313		1,823,182
Lodging — 0.9%
Boyd Gaming Corp.		50,574		2,757,800
Retail — 5.0%
AutoNation, Inc. (a)		58,672		6,295,505
BJ's Wholesale Club Holdings, Inc. (a)		75,048		4,965,176
Suburban Propane Partners LP (b)		28,399		431,097
Texas Roadhouse, Inc.		45,505		4,138,680
				15,830,458
				35,600,234
Consumer, Non-cyclical — 21.1%
Beverages — 0.6%
Coca-Cola Consolidated, Inc.		3,966		2,032,020
Biotechnology — 2.8%
ADMA Biologics, Inc. (a)		456,178		1,769,970

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Avid Bioservices, Inc. (a)		168,390	$	2,318,730
Guardant Health, Inc. (a)		26,964		733,421
Intra-Cellular Therapies, Inc. (a)		49,979		2,644,889
TransMedics Group, Inc. (a)		21,844		1,348,212
				8,815,222
Commercial Services — 3.7%
ASGN, Inc. (a)		49,590		4,040,593
Korn Ferry		67,914		3,437,806
Paya Holdings, Inc. (a)		248,192		1,953,271
Payoneer Global, Inc. (a)		387,359		2,118,854
				11,550,524
Food — 0.7%
Lancaster Colony Corp.		10,889		2,148,400
Health Care – Products — 4.8%
AtriCure, Inc. (a)		73,017		3,240,494
Azenta, Inc.		54,710		3,185,216
BioLife Solutions, Inc. (a)		75,479		1,373,718
Inspire Medical Systems, Inc. (a)		28,306		7,129,715
				14,929,143
Health Care – Services — 5.0%
Acadia Healthcare Co., Inc. (a)		88,211		7,261,529
Addus HomeCare Corp. (a)		46,773		4,653,446
Tenet Healthcare Corp. (a)		73,387		3,580,552
				15,495,527
Pharmaceuticals — 3.5%
BellRing Brands, Inc. (a)		173,947		4,460,001
Collegium Pharmaceutical, Inc. (a)		96,877		2,247,547
Option Care Health, Inc. (a)		73,282		2,205,055
Prometheus Biosciences, Inc. (a)		16,952		1,864,720
				10,777,323
				65,748,159
Energy — 5.5%
Oil & Gas — 3.9%
Chesapeake Energy Corp. (c)		42,135		3,976,280
CNX Resources Corp. (a)		261,645		4,406,102
Helmerich & Payne, Inc.		75,734		3,754,134
				12,136,516
Oil & Gas Services — 1.0%
Nov, Inc.		160,262		3,347,873
Pipelines — 0.6%
Equitrans Midstream Corp.		268,644		1,799,915
				17,284,304

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Financial — 20.0%
Banks — 6.3%
The Bank of NT Butterfield & Son Ltd.		55,301	$	1,648,523
BankUnited, Inc.		117,021		3,975,203
Cathay General Bancorp		97,960		3,995,788
Columbia Banking System, Inc.		144,310		4,348,060
Heritage Financial Corp.		88,745		2,719,147
Webster Financial Corp.		65,116		3,082,592
				19,769,313
Diversified Financial Services — 4.1%
Federated Hermes, Inc.		89,149		3,237,000
Focus Financial Partners, Inc. Class A (a)		111,836		4,168,128
Stifel Financial Corp.		90,948		5,308,635
				12,713,763
Insurance — 1.5%
Definity Financial Corp. (c)		161,921		4,601,714
Real Estate Investment Trusts (REITS) — 4.3%
DiamondRock Hospitality Co.		484,061		3,964,459
Four Corners Property Trust, Inc.		202,570		5,252,640
National Storage Affiliates Trust		112,440		4,061,333
				13,278,432
Savings & Loans — 3.8%
Berkshire Hills Bancorp, Inc.		98,598		2,948,080
OceanFirst Financial Corp.		116,996		2,486,165
Pacific Premier Bancorp, Inc.		121,811		3,844,355
WSFS Financial Corp.		60,040		2,722,214
				12,000,814
				62,364,036
Industrial — 20.8%
Aerospace & Defense — 1.8%
Curtiss-Wright Corp.		33,437		5,583,645
Building Materials — 1.5%
Summit Materials, Inc. Class A (a)		169,076		4,800,080
Electrical Components & Equipment — 0.9%
Belden, Inc.		37,556		2,700,276
Electronics — 2.8%
Atkore, Inc. (a)		41,892		4,751,391
Itron, Inc. (a)		48,685		2,465,895
Vishay Intertechnology, Inc.		71,357		1,539,170
				8,756,456
Engineering & Construction — 1.3%
TopBuild Corp. (a)		25,733		4,026,957

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Environmental Controls — 2.4%
Casella Waste Systems, Inc. Class A (a)		36,100	$	2,863,091
Evoqua Water Technologies Corp. (a)		114,862		4,548,535
				7,411,626
Hand & Machine Tools — 1.1%
Regal Rexnord Corp.		27,654		3,317,927
Machinery – Construction & Mining — 1.5%
BWX Technologies, Inc.		45,519		2,643,743
Vertiv Holdings Co.		148,592		2,029,767
				4,673,510
Machinery – Diversified — 1.6%
Esab Corp.		38,616		1,811,863
Zurn Elkay Water Solutions Corp.		155,400		3,286,710
				5,098,573
Metal Fabricate & Hardware — 1.5%
Valmont Industries, Inc.		14,186		4,690,885
Miscellaneous - Manufacturing — 1.6%
EnPro Industries, Inc.		44,740		4,862,791
Packaging & Containers — 1.2%
Silgan Holdings, Inc.		73,838		3,827,762
Transportation — 1.6%
CryoPort, Inc. (a) (c)		101,935		1,768,572
Hub Group, Inc. Class A (a)		39,491		3,139,140
				4,907,712
				64,658,200
Technology — 12.6%
Computers — 3.5%
CACI International, Inc. Class A (a)		17,965		5,400,099
KBR, Inc.		103,420		5,460,576
				10,860,675
Semiconductors — 3.3%
Allegro MicroSystems, Inc. (a)		101,318		3,041,566
Ambarella, Inc. (a)		29,021		2,386,397
MACOM Technology Solutions Holdings, Inc. (a)		40,355		2,541,558
MKS Instruments, Inc.		29,404		2,491,401
				10,460,922

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Software — 5.8%
Consensus Cloud Solutions, Inc. (a)		37,142	$	1,996,754
Coupa Software, Inc. (a)		23,512		1,861,445
Envestnet, Inc. (a)		41,635		2,568,880
Gitlab, Inc. Class A (a) (c)		22,119		1,005,087
HashiCorp, Inc. Class A (a) (c)		53,619		1,465,943
Paycor HCM, Inc. (a)		173,270		4,239,917
Progress Software Corp.		44,227		2,231,252
Sprout Social, Inc. Class A (a)		45,517		2,569,890
				17,939,168
				39,260,765
Utilities — 2.7%
Gas — 2.7%
National Fuel Gas Co.		74,924		4,742,689
Northwest Natural Holding Co.		74,223		3,532,273
				8,274,962
TOTAL COMMON STOCK (Cost $270,758,605)				306,778,162
TOTAL EQUITIES (Cost $270,758,605)				306,778,162
MUTUAL FUNDS — 0.8%
Diversified Financial Services — 0.8%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		2,414,621		2,414,621
TOTAL MUTUAL FUNDS (Cost $2,414,621)				2,414,621
TOTAL LONG-TERM INVESTMENTS (Cost $273,173,226)				309,192,783

	Principal Amount
SHORT-TERM INVESTMENTS — 1.4%
Repurchase Agreement — 1.4%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (e)	$	4,393,937	4,393,937
TOTAL SHORT-TERM INVESTMENTS (Cost $4,393,937)			4,393,937

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Principal Amount	Value
TOTAL INVESTMENTS — 100.6% (Cost $277,567,163) (f)		$	313,586,720
Other Assets/(Liabilities) — (0.6)%			(2,021,659)
NET ASSETS — 100.0%		$	311,565,061

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is a Master Limited Partnership.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $7,737,454 or 2.48% of net assets. The Fund received $5,498,418 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

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

(e) Maturity value of $4,394,562. Collateralized by U.S. Government Agency obligations with a rate of 3.000%, maturity date of 6/30/24, and an aggregate market value, including accrued interest, of $4,481,903.

(f) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Global Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.2%
COMMON STOCK — 99.2%
Canada — 0.2%
Canadian Pacific Railway Ltd. (a)		4,101	$	305,894
Cayman Islands — 6.6%
JD.com, Inc. ADR		176,338		9,897,852
Meituan Class B (b) (c)		83,200		1,839,667
StoneCo Ltd. Class A (b)		49,575		467,988
Tencent Holdings Ltd.		30,700		1,304,818
				13,510,325
Denmark — 4.0%
Novo Nordisk A/S Class B		60,415		8,180,188
France — 9.4%
Dassault Systemes SE		23,454		845,917
EssilorLuxottica SA		6,860		1,249,179
Kering SA		9,350		4,785,166
LVMH Moet Hennessy Louis Vuitton SE		16,635		12,084,411
Pernod Ricard SA		1,653		324,913
				19,289,586
Germany — 2.1%
Allianz SE Registered		2,956		635,617
SAP SE		34,402		3,550,266
				4,185,883
India — 5.6%
DLF Ltd.		1,608,257		7,281,941
ICICI Bank Ltd. Sponsored ADR		189,611		4,150,585
				11,432,526
Israel — 0.2%
Nice Ltd. Sponsored ADR (a) (b)		2,225		427,868
Italy — 0.7%
Brunello Cucinelli SpA		20,336		1,508,974
Japan — 6.4%
Keyence Corp.		16,000		6,264,075
Murata Manufacturing Co. Ltd.		72,930		3,658,847
Nidec Corp.		3,600		187,477
Omron Corp.		9,300		453,593
TDK Corp.		79,700		2,587,937
				13,151,929
Netherlands — 6.0%
Airbus SE		84,419		10,037,610

MassMutual Global Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
ASML Holding NV		4,274	$	2,313,529
				12,351,139
Spain — 0.7%
Amadeus IT Group SA (b)		29,340		1,513,065
Sweden — 4.2%
Assa Abloy AB Class B		168,381		3,622,872
Atlas Copco AB		420,737		4,981,256
				8,604,128
Switzerland — 0.8%
Lonza Group AG Registered		3,419		1,682,756
United States — 52.3%
Adobe, Inc. (b)		19,130		6,437,819
Agilent Technologies, Inc.		28,624		4,283,582
Alphabet, Inc. Class A (b)		230,992		20,380,424
Amazon.com, Inc. (b)		19,301		1,621,284
Analog Devices, Inc.		67,048		10,997,883
Avantor, Inc. (b)		54,418		1,147,676
Boston Scientific Corp. (b)		14,609		675,958
Charles River Laboratories International, Inc. (b)		3,998		871,164
Charter Communications, Inc. Class A (b)		2,480		840,968
Danaher Corp.		4,646		1,233,141
Datadog, Inc. Class A (b)		5,655		415,643
Dun & Bradstreet Holdings, Inc.		26,384		323,468
Ecolab, Inc.		4,467		650,217
Equifax, Inc.		21,065		4,094,193
Fidelity National Information Services, Inc.		11,098		752,999
IDEXX Laboratories, Inc. (b)		1,678		684,557
Illumina, Inc. (b)		7,837		1,584,641
Intuit, Inc.		25,403		9,887,356
Intuitive Surgical, Inc. (b)		6,915		1,834,895
IQVIA Holdings, Inc. (b)		10,586		2,168,966
Lam Research Corp.		540		226,962
Marriott International, Inc. Class A		8,244		1,227,449
Marvell Technology, Inc.		63,573		2,354,744
Meta Platforms, Inc. Class A (b)		53,929		6,489,816
Microsoft Corp.		12,866		3,085,524
NVIDIA Corp.		6,710		980,599
Phathom Pharmaceuticals, Inc. (a) (b)		29,550		331,551
Qualtrics International Inc (b)		51,271		532,193
S&P Global, Inc.		31,329		10,493,335
Splunk, Inc. (b)		9,900		852,291
United Parcel Service, Inc. Class B		28,213		4,904,548
Visa, Inc. Class A		20,885		4,339,068
The Walt Disney Co. (b)		3,401		295,479
				107,000,393
TOTAL COMMON STOCK (Cost $140,368,959)				203,144,654
TOTAL EQUITIES (Cost $140,368,959)				203,144,654

MassMutual Global Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
MUTUAL FUNDS — 0.3%
United States — 0.3%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		636,145	$	636,145
TOTAL MUTUAL FUNDS (Cost $636,145)				636,145
TOTAL LONG-TERM INVESTMENTS (Cost $141,005,104)				203,780,799
	Principal Amount
SHORT-TERM INVESTMENTS — 0.9%
Repurchase Agreement — 0.9%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (e)	$	1,825,419		1,825,419
TOTAL SHORT-TERM INVESTMENTS (Cost $1,825,419)				1,825,419
TOTAL INVESTMENTS — 100.4% (Cost $142,830,523) (f)				205,606,218
Other Assets/(Liabilities) — (0.4)%				(864,621)
NET ASSETS — 100.0%			$	204,741,597

Abbreviation Legend

ADR American Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $928,029 or 0.45% of net assets. The Fund received $317,545 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(b) Non-income producing security.

(c) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $1,839,667 or 0.90% of net assets.

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

(e) Maturity value of $1,825,679. Collateralized by U.S. Government Agency obligations with a rate of 0.000%, maturity date of 6/29/23, and an aggregate market value, including accrued interest, of $1,861,935.

(f) See Note 3 for aggregate cost for federal tax purposes.

MassMutual International Equity Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 96.3%
COMMON STOCK — 96.3%
Australia — 0.9%
BHP Group Ltd. Sponsored ADR (a)		2,000	$	124,100
BHP Group Ltd.		3,900		120,749
Macquarie Group Ltd.		2,700		306,518
Santos Ltd.		71,700		351,579
Westpac Banking Corp.		7,900		124,251
Woodside Energy Group Ltd. (a)		6,126		148,219
				1,175,416
Belgium — 0.9%
Anheuser-Busch InBev SA		9,700		583,146
Groupe Bruxelles Lambert SA		2,000		160,206
KBC Group NV		5,300		340,298
				1,083,650
Canada — 6.0%
The Bank of Nova Scotia (a)		29,229		1,432,092
Canadian National Railway Co.		26,060		3,095,635
Intact Financial Corp. (a)		20,832		2,998,793
TFI International, Inc.		1,800		180,279
				7,706,799
Cayman Islands — 0.6%
CK Asset Holdings Ltd.		57,000		350,938
CK Hutchison Holdings Ltd.		77,900		467,659
				818,597
Finland — 2.0%
Kone OYJ Class B		40,558		2,100,758
Nokia OYJ		85,600		397,732
				2,498,490
France — 12.9%
Amundi SA (b)		3,292		187,053
AXA SA		73,680		2,053,515
Capgemini SE		17,631		2,956,963
Cie de Saint-Gobain		3,400		166,919
Dassault Aviation SA		900		152,702
Engie SA		26,805		383,956
LVMH Moet Hennessy Louis Vuitton SE		1,622		1,178,294
Rexel SA		6,900		136,737
Sanofi		5,000		483,803
Schneider Electric SE		19,537		2,747,673
Societe Generale SA		8,800		220,793
Sodexo SA		1,600		153,061
TotalEnergies SE (a)		37,000		2,309,361

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Ubisoft Entertainment SA (c)		3,200	$	90,832
Veolia Environnement SA		19,392		498,190
Vinci SA		28,480		2,844,440
				16,564,292
Germany — 5.4%
Allianz SE Registered		1,960		421,451
BASF SE		7,000		347,509
Bayer AG Registered		2,100		108,428
Deutsche Boerse AG		1,636		282,277
Deutsche Post AG Registered		10,400		391,475
HeidelbergCement AG		6,800		387,827
Infineon Technologies AG		10,500		319,806
Merck KGaA		16,536		3,202,365
SAP SE		5,300		546,957
Siemens AG Registered		3,460		480,222
Siemens Energy AG (c)		12,834		241,473
Talanx AG (c)		3,100		147,067
				6,876,857
Hong Kong — 2.9%
AIA Group Ltd.		340,044		3,746,266
Ireland — 3.6%
AIB Group PLC		87,100		335,742
DCC PLC		4,900		241,895
Linde PLC (c)		9,979		3,262,844
Linde PLC		1,070		349,013
Ryanair Holdings PLC Sponsored ADR (c)		300		22,428
Smurfit Kappa Group PLC		10,600		392,734
				4,604,656
Israel — 0.2%
Check Point Software Technologies Ltd. (c)		2,390		301,522
Italy — 0.1%
Prysmian SpA		3,300		122,163
Japan — 14.5%
Astellas Pharma, Inc.		176,420		2,676,484
Chugai Pharmaceutical Co. Ltd.		72,571		1,844,038
Denka Co. Ltd.		7,800		178,113
FANUC Corp.		1,500		223,863
Fujitsu Ltd.		2,000		264,856
Hitachi Ltd.		7,600		382,469
Kao Corp. (a)		57,556		2,304,000
KDDI Corp.		102,424		3,095,675
Kirin Holdings Co. Ltd. (a)		103,145		1,580,209
Kyocera Corp.		6,200		309,407
Nintendo Co. Ltd.		4,000		167,502
Olympus Corp.		8,500		150,244
ORIX Corp.		23,500		378,933
Rakuten Group, Inc. (a) (c)		42,500		192,897
SBI Holdings, Inc.		14,700		281,837
Sega Sammy Holdings, Inc.		7,900		118,936
Seven & i Holdings Co. Ltd.		11,900		509,063
Shiseido Co. Ltd. (a)		44,242		2,180,274

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sony Group Corp.		7,400	$	564,294
Square Enix Holdings Co. Ltd.		3,000		139,287
Sumitomo Mitsui Financial Group, Inc.		10,300		415,031
Toshiba Corp.		6,900		241,864
Toyota Industries Corp.		7,100		387,098
				18,586,374
Luxembourg — 0.2%
ArcelorMittal SA		10,100		264,074
Netherlands — 3.9%
AerCap Holdings NV (c)		6,981		407,132
ASML Holding NV		590		319,369
CNH Industrial NV		19,900		319,597
EXOR NV (c)		1,300		94,896
Heineken Holding NV		4,700		361,897
Heineken NV		33,728		3,168,797
Koninklijke Philips NV		5,500		82,551
NXP Semiconductor NV		1,300		205,439
				4,959,678
Norway — 0.4%
Aker BP ASA		7,413		231,071
DNB Bank ASA		16,400		324,690
Mowi ASA		400		6,829
				562,590
Republic of Korea — 0.3%
Samsung Electronics Co. Ltd.		9,100		401,293
Singapore — 0.3%
DBS Group Holdings, Ltd.		16,200		410,126
Spain — 3.9%
Iberdrola SA		196,403		2,297,424
Industria de Diseno Textil SA		101,069		2,691,280
				4,988,704
Sweden — 2.7%
Assa Abloy AB Class B		118,673		2,553,359
Essity AB Class B		13,200		346,473
Husqvarna AB Class B		9,700		68,345
Investor AB Class B		6,470		117,348
Skandinaviska Enskilda Banken AB Class A		5,600		64,446
Volvo AB Class B		13,800		249,872
				3,399,843
Switzerland — 9.3%
ABB Ltd. Registered		12,900		392,905
Alcon, Inc.		1,400		96,158
Cie Financiere Richemont SA Registered		2,800		362,336
Julius Baer Group Ltd.		800		46,501
Nestle SA Registered		30,320		3,501,520
Novartis AG Registered		38,447		3,482,580
Roche Holding AG		11,382		3,576,928

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
UBS Group AG Registered		22,200	$	413,799
				11,872,727
United Kingdom — 25.3%
Ashtead Group PLC		6,000		342,760
AstraZeneca PLC		22,549		3,060,246
Aviva PLC		22,984		122,508
BAE Systems PLC		322,859		3,336,809
Barratt Developments PLC		21,100		101,320
BP PLC		75,300		437,887
Bunzl PLC		7,300		243,654
Burberry Group PLC		7,300		178,376
Compass Group PLC		50,294		1,162,141
Diageo PLC		59,615		2,632,556
Entain PLC		8,600		137,890
Experian PLC		75,448		2,568,520
Glencore PLC		40,900		273,489
GSK PLC		18,320		318,581
Imperial Brands PLC		2,600		64,960
Inchcape PLC		16,056		158,479
Informa PLC		33,000		247,412
Kingfisher PLC		93,700		268,162
Legal & General Group PLC		65,100		196,611
Liberty Global PLC Class C (c)		13,900		270,077
Lloyds Banking Group PLC		728,100		399,824
Melrose Industries PLC		108,821		176,912
National Grid PLC		73,239		879,701
Persimmon PLC		10,200		150,564
Prudential PLC		134,509		1,820,261
Reckitt Benckiser Group PLC		49,606		3,451,042
Shell PLC		94,169		2,676,068
Smith & Nephew PLC		219,325		2,930,131
Tesco PLC		133,000		360,598
Unilever PLC		10,300		519,624
Unilever PLC		56,280		2,824,209
				32,311,372
TOTAL COMMON STOCK (Cost $124,391,594)				123,255,489
TOTAL EQUITIES (Cost $124,391,594)				123,255,489
MUTUAL FUNDS — 0.3%
United States — 0.3%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		318,263		318,263
TOTAL MUTUAL FUNDS (Cost $318,263)				318,263
TOTAL LONG-TERM INVESTMENTS (Cost $124,709,857)				123,573,752

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 3.3%
Repurchase Agreement — 3.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (e)	$	4,274,366	$	4,274,366
TOTAL SHORT-TERM INVESTMENTS (Cost $4,274,366)				4,274,366
TOTAL INVESTMENTS — 99.9% (Cost $128,984,223) (f)				127,848,118
Other Assets/(Liabilities) — 0.1%				125,269
NET ASSETS — 100.0%			$	127,973,387

Abbreviation Legend

ADR American Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $6,684,669 or 5.22% of net assets. The Fund received $6,722,966 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $187,053 or 0.15% of net assets.

(c) Non-income producing security.

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

(e) Maturity value of $4,274,974. Collateralized by U.S. Government Agency obligations with rates ranging from 0.000% - 2.875%, maturity dates ranging from 6/29/23 - 5/15/28, and an aggregate market value, including accrued interest, of $4,359,889.

(f) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments

December 31, 2022 (Unaudited)

	Number of Shares		Value
EQUITIES — 96.1%
COMMON STOCK — 94.8%
Belgium — 0.6%
Anheuser-Busch InBev SA		11,550	$	694,365
Bermuda — 1.0%
Credicorp Ltd.		7,298		990,047
Hongkong Land Holdings Ltd.		26,900		123,367
				1,113,414
Brazil — 5.1%
Ambev SA		738,763		2,031,390
Lojas Renner SA		153,133		576,840
Vale SA Sponsored ADR		182,401		3,095,345
WEG SA		49,337		359,338
				6,062,913
Cayman Islands — 21.2%
BeiGene Ltd. ADR (a)		10,411		2,289,795
Brii Biosciences Ltd. (a)		197,000		186,045
H World Group Ltd.		9,800		42,178
H World Group Ltd. ADR		129,587		5,497,081
Meituan Class B (a) (b)		82,700		1,828,611
NetEase, Inc. ADR		44,542		3,235,085
New Horizon Health Ltd. (a) (b)		63,000		140,958
NU Holdings Ltd/Cayman Islands Class A (a) (c)		240,190		977,573
Silergy Corp.		42,000		595,572
Tencent Holdings Ltd.		52,590		2,235,191
Wuxi Biologics Cayman, Inc. (a) (b)		239,500		1,838,657
Zai Lab Ltd. ADR (a)		33,740		1,035,818
ZTO Express Cayman, Inc.		12,170		330,448
ZTO Express Cayman, Inc. ADR		180,849		4,859,413
				25,092,425
Chile — 0.1%
Banco Santander Chile		3,193,147		127,801
China — 0.0%
MicroTech Medical Hangzhou Co. Ltd. Class H (a) (b)		33,600		41,991
Cyprus — 0.0%
TCS Group Holding, PLC (a) (d) (e)		8,777		—
France — 5.3%
Kering SA		443		226,720
L'Oreal SA		244		87,533
Pernod Ricard SA		26,333		5,176,003
TotalEnergies SE		13,011		812,084
				6,302,340

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Hong Kong — 2.2%
AIA Group Ltd.		212,600	$	2,342,215
Hang Lung Properties Ltd.		22,000		42,715
Hong Kong Exchanges & Clearing Ltd.		3,800		164,217
				2,549,147
India — 21.0%
Housing Development Finance Corp. Ltd.		303,314		9,673,891
Infosys Ltd.		119,891		2,172,536
Kotak Mahindra Bank Ltd.		267,164		5,874,159
Oberoi Realty Ltd.		73,557		769,234
Tata Consultancy Services Ltd.		145,693		5,733,027
Zee Entertainment Enterprises Ltd.		220,333		640,602
				24,863,449
Indonesia — 0.7%
Bank Central Asia Tbk PT		1,485,200		814,261
Italy — 1.7%
PRADA SpA		366,300		2,055,032
Japan — 0.1%
Daiichi Sankyo Co. Ltd.		3,900		124,985
Mexico — 7.4%
America Movil SAB de CV Class L Sponsored ADR (c)		84,450		1,536,990
Fomento Economico Mexicano SAB de CV		9,183		71,795
Grupo Mexico SAB de CV Series B		1,399,409		4,933,641
Wal-Mart de Mexico SAB de CV		635,968		2,247,991
				8,790,417
Netherlands — 0.0%
Yandex N.V. (a) (d) (e)		79,528		—
Philippines — 1.8%
SM Investments Corp.		129,380		2,098,791
Republic of Korea — 7.3%
LG Chem Ltd.		7,063		3,378,731
LG H&H Co. Ltd.		717		412,564
Samsung Biologics Co. Ltd. (a) (b)		3,622		2,336,233
Samsung Electronics Co. Ltd.		56,868		2,507,770
				8,635,298
Russia — 0.0%
Novatek PJSC (a) (d) (e)		28,473		—
Novatek PJSC (a) (d) (e)		16		—
Polyus PJSC GDR (a) (d) (e)		454		—
Polyus PJSC GDR (a) (d) (e)		3,547		—
Sberbank of Russia PJSC (a) (d) (e)		18,062		—
				—
South Africa — 1.1%
FirstRand Ltd.		347,589		1,269,556

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Switzerland — 2.8%
Cie Financiere Richemont SA Registered		25,853	$	3,345,524
Taiwan — 8.3%
MediaTek, Inc.		92,000		1,868,711
Taiwan Semiconductor Manufacturing Co. Ltd.		541,000		7,884,885
				9,753,596
United Kingdom — 0.9%
Antofagasta PLC		18,413		341,840
AstraZeneca PLC Sponsored ADR		2,047		138,787
Glencore PLC		91,149		609,493
				1,090,120
United States — 6.2%
Coupang, Inc. (a)		2,231		32,818
Yum China Holdings, Inc.		132,532		7,242,874
				7,275,692
TOTAL COMMON STOCK (Cost $122,285,110)				112,101,117
PREFERRED STOCK — 1.3%
Brazil — 1.3%
Banco Bradesco SA 4.052%		537,314		1,558,122
TOTAL PREFERRED STOCK (Cost $1,941,382)				1,558,122
TOTAL EQUITIES (Cost $124,226,492)				113,659,239
MUTUAL FUNDS — 0.0%
United States — 0.0%
State Street Navigator Securities Lending Government Money Market Portfolio (f)		10,294		10,294
TOTAL MUTUAL FUNDS (Cost $10,294)				10,294
WARRANTS — 0.0%
Switzerland — 0.0%
Cie Financiere Richemont SA, Expires 11/22/23, Strike 67.00 (a)		53,937		44,916
TOTAL WARRANTS (Cost $0)				44,916
TOTAL LONG-TERM INVESTMENTS (Cost $124,236,786)				113,714,449

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 3.3%
Repurchase Agreement — 3.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/30/22, 1.280%, due 1/03/23 (g)	$	3,905,595	$	3,905,595
TOTAL SHORT-TERM INVESTMENTS (Cost $3,905,595)				3,905,595
TOTAL INVESTMENTS — 99.4% (Cost $128,142,381) (h)				117,620,044
Other Assets/(Liabilities) — 0.6%				689,082
NET ASSETS — 100.0%			$	118,309,126

Abbreviation Legend

ADR American Depositary Receipt

GDR Global Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $6,186,450 or 5.23% of net assets.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2022, was $336,585 or 0.28% of net assets. The Fund received $334,677 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(d) Investment is valued using significant unobservable inputs.

(e) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2022, these securities amounted to a value of $0 or 0.00% of net assets.

(f) Represents investment of security lending cash collateral. (Note 2).

(g) Maturity value of $3,906,151. Collateralized by U.S. Government Agency obligations with a rate of 0.000%, maturity date of 6/29/23, and an aggregate market value, including accrued interest, of $3,983,775.

(h) See Note 3 for aggregate cost for federal tax purposes.

Notes to Portfolio of Investments (Unaudited)

1. The Funds

MassMutual Premier Funds (the "Trust") is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated August 1, 1994, as amended and restated as of November 21, 2011, as it may be further amended from time to time. The Trust consists of 14 series, including the following 13 series listed below (each individually referred to as a "Fund" or collectively as the "Funds"):

MassMutual Short-Duration Bond Fund (“Short-Duration Bond Fund”)

MassMutual Inflation-Protected and Income Fund (“Inflation-Protected and Income Fund”)

MassMutual Core Bond Fund (“Core Bond Fund”)

MassMutual Diversified Bond Fund (“Diversified Bond Fund”)

MassMutual High Yield Fund (“High Yield Fund”)

MassMutual Balanced Fund (“Balanced Fund”)

MassMutual Disciplined Value Fund (“Disciplined Value Fund”)

MassMutual Main Street Fund (“Main Street Fund”)

MassMutual Disciplined Growth Fund (“Disciplined Growth Fund”)

MassMutual Small Cap Opportunities Fund (“Small Cap Opportunities Fund”)

MassMutual Global Fund (“Global Fund”)

MassMutual International Equity Fund (“International Equity Fund”)

MassMutual Strategic Emerging Markets Fund (“Strategic Emerging Markets Fund”)

2. Significant Accounting Policies

Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

Investment Valuation

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

Notes to Portfolio of Investments (Unaudited) (Continued)

Equity securities and derivative contracts that are actively traded on a national securities exchange or contract market are valued on the basis of information furnished by a pricing service, which provides the last reported sale price, or, in the case of futures contracts, the settlement price, for securities or derivatives listed on the exchange or contract market or the official closing price on the NASDAQ National Market System (“NASDAQ System”), or in the case of over-the-counter (“OTC”) securities for which an official closing price is unavailable or not reported on the NASDAQ System, the last reported bid price. Portfolio securities traded on more than one national securities exchange are valued at the last price at the close of the exchange representing the principal market for such securities. Debt securities are valued on the basis of valuations furnished by a pricing service, which generally determines valuations taking into account factors such as institutional-size trading in similar securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Shares of other open-end mutual funds are valued at their closing net asset values as reported on each business day.

Investments for which market quotations are readily available are marked to market daily based on those quotations. Market quotations may be provided by third-party vendors or market makers, and may be determined on the basis of a variety of factors, such as broker quotations, financial modeling, and other market data, such as market indexes and yield curves, counterparty information, and foreign exchange rates. U.S. Government and agency securities may be valued on the basis of market quotations or using a model that may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. The fair values of OTC derivative contracts, including forward, swap, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices, may be based on market quotations or may be modeled using a series of techniques, including simulation models, depending on the contract and the terms of the transaction. The fair values of asset-backed securities and mortgage-backed securities are estimated based on models that consider the estimated cash flows of each debt tranche of the issuer, established benchmark yield, and estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche, including, but not limited to, prepayment speed assumptions and attributes of the collateral.

The Board of Trustees (“Trustees”) have designated MML Advisers as the Funds’ “valuation designee,” responsible for determining the fair value, in good faith, of securities and other instruments held by the Funds for which market quotations are not readily available or for which such market quotations or values are considered by MML Advisers or a subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event). It is possible that a significant amount of a Fund’s assets will be subject to fair valuation in accordance with MML Advisers’ fair valuation policy and procedures. The fair value determined for an investment by MML Advisers may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.

The Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds' portfolio securities may change on days when the prices of the Funds' shares are not calculated. The prices of the Funds' shares will reflect any such changes when the prices of the Funds' shares are next calculated, which is the next business day.  The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim. The Funds' investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.

Notes to Portfolio of Investments (Unaudited) (Continued)

Investments in equity or debt issued by privately held companies or funds (“Private Company” or collectively, the “Private Companies”) and any other investments fair valued using significant unobservable inputs may be fair valued using one or a combination of, but not limited to, the following inputs:

Market approach: (i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii) recapitalizations and other transactions across the capital structure; and (iii) market multiples of comparable issuers.

Income approach: (i) future cash flows discounted to present value and adjusted as appropriate for liquidity, credit, and/or market risks; (ii) quoted prices for similar investments or assets in active markets; and (iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts, and/or default rates.

Cost approach: (i) audited or unaudited financial statements, investor communications, and financial or operational metrics issued by the Private Company; (ii) changes in the valuation of relevant indexes or publicly traded companies comparable to the Private Company; (iii) relevant news and other public sources; and (iv) known secondary market transactions in the Private Company's interests and merger or acquisition activity in companies comparable to the Private Company.

Investments in series of preferred stock issued by Private Companies are typically valued utilizing the Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as the current value method (“CVM”), an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”), or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The CVM allocates value among the various parts of a company’s capital structure assuming that the value of convertible preferred stock is represented by the most favorable claim the preferred stockholders have on the enterprise value as of the valuation date. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure. 

Notes to Portfolio of Investments (Unaudited) (Continued)

The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by a Fund. Typically, the most recently available information for a Private Company is as of a date that is earlier than the date a Fund is calculating its net asset value. This factor may result in a difference between the value of the investment and the price a Fund could receive upon the sale of the investment.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

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

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

Level 3 – significant unobservable inputs, to the extent observable inputs are not available (including the Funds' own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Levels.

In certain cases, the inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest Level input that is significant to the overall fair value measurement.

Notes to Portfolio of Investments (Unaudited) (Continued)

The Disciplined Value Fund, Main Street Fund, Disciplined Growth Fund, and Small Cap Opportunities Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of December 31, 2022. For each Fund noted in the preceding sentence, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

The following is the aggregate value by input level, as of December 31, 2022, for the remaining Funds' investments:

Short-Duration Bond Fund

Asset Investments	Level 1			Level 2			Level 3		Total
Corporate Debt	$	—		$	160,418,475		$	—	$	160,418,475
Non-U.S. Government Agency Obligations		—			149,393,291			—		149,393,291
U.S. Government Agency Obligations and Instrumentalities		—			94,355			—		94,355
Mutual Funds		5,878,503			—			—		5,878,503
Short-Term Investments		—			15,031,835			—		15,031,835
Total Investments	$	5,878,503		$	324,937,956		$	—	$	330,816,459
Asset Derivatives
Futures Contracts	$	58,711		$	—		$	—	$	58,711
Liability Derivatives
Futures Contracts	$	(73,350	)	$	—		$	—	$	(73,350	)
Swap Agreements		—			(4,017,519	)		—		(4,017,519	)
Total	$	(73,350	)	$	(4,017,519	)	$	—	$	(4,090,869	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Inflation-Protected and Income Fund

Asset Investments	Level 1			Level 2			Level 3		Total
Non-U.S. Government Agency Obligations	$	—		$	150,133,078		$	—	$	150,133,078
U.S. Government Agency Obligations and Instrumentalities		—			33,609,402			—		33,609,402
U.S. Treasury Obligations		—			73,389,051			—		73,389,051
Mutual Funds		1,107,700			—			—		1,107,700
Short-Term Investments		—			34,154,553			—		34,154,553
Total Investments	$	1,107,700		$	291,286,084		$	—	$	292,393,784
Asset Derivatives
Futures Contracts	$	99,460		$	—		$	—	$	99,460
Swap Agreements		—			1,043,893			—		1,043,893
Total	$	99,460		$	1,043,893		$	—	$	1,143,353
Liability Derivatives
Futures Contracts	$	(94,021	)	$	—		$	—	$	(94,021	)
Swap Agreements		—			(3,990,573	)		—		(3,990,573	)
Total	$	(94,021	)	$	(3,990,573	)	$	—	$	(4,084,594	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Core Bond Fund

Asset Investments	Level 1			Level 2		Level 3		Total
Corporate Debt	$	—		$	278,642,787	$	—	$	278,642,787
Non-U.S. Government Agency Obligations		—			198,461,407		—		198,461,407
Sovereign Debt Obligations		—			2,440,643		—		2,440,643
U.S. Government Agency Obligations and Instrumentalities		—			186,374,280		—		186,374,280
U.S. Treasury Obligations		—			52,086,048		—		52,086,048
Mutual Funds		3,094,650			—		—		3,094,650
Short-Term Investments		—			81,786,192		—		81,786,192
Total Investments	$	3,094,650		$	799,791,357	$	—	$	802,886,007
Asset Derivatives
Futures Contracts	$	148,693		$	—	$	—	$	148,693
Liability Derivatives
Futures Contracts	$	(5,750	)	$	—	$	—	$	(5,750	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Diversified Bond Fund

Asset Investments	Level 1			Level 2			Level 3		Total
Preferred Stock	$	1,121,983		$	—		$	—	$	1,121,983
Corporate Debt		—			70,946,121			—		70,946,121
Non-U.S. Government Agency Obligations		—			45,466,787			—		45,466,787
Sovereign Debt Obligations		—			172,489			—		172,489
U.S. Government Agency Obligations and Instrumentalities		—			23,970,718			—		23,970,718
U.S. Treasury Obligations		—			8,621,113			—		8,621,113
Warrants		—			—			4,290		4,290
Mutual Funds		1,289,700			—			—		1,289,700
Short-Term Investments		—			13,373,229			—		13,373,229
Total Investments	$	2,411,683		$	162,550,457		$	4,290	$	164,966,430
Asset Derivatives
Forward Contracts	$	—		$	219,054		$	—	$	219,054
Futures Contracts		69,176			—			—		69,176
Total	$	69,176		$	219,054		$	—	$	288,230
Liability Derivatives
Forward Contracts	$	—		$	(142,896	)	$	—	$	(142,896	)
Futures Contracts		(17,264	)		—			—		(17,264	)
Total	$	(17,264	)	$	(142,896	)	$	—	$	(160,160	)

Notes to Portfolio of Investments (Unaudited) (Continued)

High Yield Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Bank Loans	$	—	$	7,542,137	$	—	$	7,542,137
Corporate Debt		—		356,002,867		—		356,002,867
Mutual Funds		10,691,475		—		—		10,691,475
Short-Term Investments		—		13,318,830		—		13,318,830
Total Investments	$	10,691,475	$	376,863,834	$	—	$	387,555,309

Notes to Portfolio of Investments (Unaudited) (Continued)

Balanced Fund

Asset Investments	Level 1			Level 2		Level 3		Total
Common Stock	$	76,887,545		$	—	$	—	$	76,887,545
Corporate Debt		—			13,167,904		—		13,167,904
Non-U.S. Government Agency Obligations		—			4,512,662		—		4,512,662
U.S. Government Agency Obligations and Instrumentalities		—			11,542,009		—		11,542,009
U.S. Treasury Obligations		—			16,373,235		—		16,373,235
Short-Term Investments		—			806,666		—		806,666
Total Investments	$	76,887,545		$	46,402,476	$	—	$	123,290,021
Asset Derivatives
Futures Contracts	$	19,191		$	—	$	—	$	19,191
Liability Derivatives
Futures Contracts	$	(1,418	)	$	—	$	—	$	(1,418	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Global Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock*
Canada	$	305,894	$	—	$	—	$	305,894
Cayman Islands		10,365,840		3,144,485		—		13,510,325
Denmark		—		8,180,188		—		8,180,188
France		—		19,289,586		—		19,289,586
Germany		—		4,185,883		—		4,185,883
India		4,150,585		7,281,941		—		11,432,526
Israel		427,868		—		—		427,868
Italy		—		1,508,974		—		1,508,974
Japan		—		13,151,929		—		13,151,929
Netherlands		—		12,351,139		—		12,351,139
Spain		—		1,513,065		—		1,513,065
Sweden		—		8,604,128		—		8,604,128
Switzerland		—		1,682,756		—		1,682,756
United States		107,000,393		—		—		107,000,393
Mutual Funds		636,145		—		—		636,145
Short-Term Investments		—		1,825,419		—		1,825,419
Total Investments	$	122,886,725	$	82,719,493	$	—	$	205,606,218

Notes to Portfolio of Investments (Unaudited) (Continued)

International Equity Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock*
Australia	$	124,100	$	1,051,316	$	—	$	1,175,416
Belgium		—		1,083,650		—		1,083,650
Canada		7,706,799		—		—		7,706,799
Cayman Islands		—		818,597		—		818,597
Finland		—		2,498,490		—		2,498,490
France		—		16,564,292		—		16,564,292
Germany		—		6,876,857		—		6,876,857
Hong Kong		—		3,746,266		—		3,746,266
Ireland		371,441		4,233,215		—		4,604,656
Israel		301,522		—		—		301,522
Italy		—		122,163		—		122,163
Japan		—		18,586,374		—		18,586,374
Luxembourg		—		264,074		—		264,074
Netherlands		612,571		4,347,107		—		4,959,678
Norway		—		562,590		—		562,590
Republic of Korea		—		401,293		—		401,293
Singapore		—		410,126		—		410,126
Spain		—		4,988,704		—		4,988,704
Sweden		—		3,399,843		—		3,399,843
Switzerland		—		11,872,727		—		11,872,727
United Kingdom		270,077		32,041,295		—		32,311,372
Mutual Funds		318,263		—		—		318,263
Short-Term Investments		—		4,274,366		—		4,274,366
Total Investments	$	9,704,773	$	118,143,345	$	—	$	127,848,118

Notes to Portfolio of Investments (Unaudited) (Continued)

Strategic Emerging Markets Fund

Asset Investments	Level 1		Level 2		Level 3			Total
Common Stock*
Belgium	$	—	$	694,365	$	—		$	694,365
Bermuda		990,047		123,367		—			1,113,414
Brazil		3,095,345		2,967,568		—			6,062,913
Cayman Islands		17,894,765		7,197,660		—			25,092,425
Chile		127,801		—		—			127,801
China		—		41,991		—			41,991
Cyprus		—		—		—	+		—
France		—		6,302,340		—			6,302,340
Hong Kong		—		2,549,147		—			2,549,147
India		—		24,863,449		—			24,863,449
Indonesia		—		814,261		—			814,261
Italy		—		2,055,032		—			2,055,032
Japan		—		124,985		—			124,985
Mexico		8,790,417		—		—			8,790,417
Netherlands		—		—		—	+		—
Philippines		—		2,098,791		—			2,098,791
Republic of Korea		—		8,635,298		—			8,635,298
Russia		—		—		—	+		—
South Africa		—		1,269,556		—			1,269,556
Switzerland		—		3,345,524		—			3,345,524
Taiwan		—		9,753,596		—			9,753,596
United Kingdom		138,787		951,333		—			1,090,120
United States		7,275,692		—		—			7,275,692
Preferred Stock*
Brazil		—		1,558,122		—			1,558,122
Mutual Funds		10,294		—		—			10,294
Warrants		44,916		—		—			44,916
Short-Term Investments		—		3,905,595		—			3,905,595
Total Investments	$	38,368,064	$	79,251,980	$	—		$	117,620,044

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments after the close of trading in their respective foreign markets, as applicable.

+ Represents a security at $0 value as of December 31, 2022.

Derivative Instruments

Derivatives are financial instruments whose values are based on the values of one or more underlying indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. Losses from derivatives can be substantially greater than the derivatives' original cost and can sometimes be unlimited. A Fund may not be able to close out a derivative transaction at a favorable time or price.

Please refer to the Funds' most recent Annual/Semiannual reports and Prospectus(es) and Statement(s) of Additional Information which can be found on the Securities and Exchange Commission's EDGAR database on its website at http://www.sec.gov for more information regarding the derivatives and other investments held by the Fund(s).

Securities Lending 

Each Fund may lend its securities; however, lending cannot exceed 33% of the total assets of the Fund taken at current value. The Funds’ securities lending activities are governed by a Securities Lending Agency Agreement (“Lending Agreement”) between each Fund and the lending agent (“Agent”). The Lending Agreement authorizes the Agent to lend portfolio securities held by a Fund to approved borrowers (each, a “Borrower”).

Each Fund expects that in connection with any securities on loan, the loan will be secured continuously by collateral consisting of cash (U.S. currency) and/or securities (U.S. Treasury and Agency obligations) adjusted daily to have value at least equal to the current market value of the securities loaned. The market value of the loaned securities is determined at the close of business of a Fund and any additional collateral is delivered to the Fund the next business day. The Funds bear the risk of loss with respect to the investment of cash collateral. As with other extensions of credit, the Funds may bear the risk of delay in recovery of the loaned securities or even loss of rights in the collateral should the Borrower of the securities fail financially. Pursuant to the Lending Agreement, the Agent has provided indemnification to the Funds in the event of default by a Borrower with respect to a loan. The Funds receive compensation for lending their securities in the form of a securities loan fee paid by the Borrower, as well as a share of the income earned on investment of the cash collateral received for the loaned securities. At December 31, 2022, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan and all of the Funds’ cash collateral was invested in the State Street Navigator Securities Lending Government Money Market Portfolio.

Notes to Portfolio of Investments (Unaudited) (Continued)

Subject to the terms of the Lending Agreement and the agreement between the Agent and the applicable Borrower (“Borrowing Agreement”), security loans can be terminated by the Agent, the Fund, or the Borrower and the related securities must be returned within the earlier of the customary settlement period for such securities or the period of time specified in the Borrowing Agreement.

Accounting for Investment Transactions

Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country's tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain.

Foreign Currency Translation

The books and records of the Funds are maintained in U.S. dollars. The market values of foreign currencies, foreign securities, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the mean of the buying and selling rates of such currencies against the U.S. dollar at the end of each business day. Purchases and sales of foreign securities and income and expense items are translated at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of the results of operations arising from changes in the exchange rates from that portion arising from changes in the market prices of securities. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of dividends or interest recorded on the books of the Funds and the amount actually received.

Foreign Securities

The Global Fund invests a significant amount of its assets in foreign securities and each of the International Equity Fund and Strategic Emerging Markets Fund invests substantially all of its assets in foreign securities. The other Funds may also invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, public health, and diplomatic risks. In addition, fluctuations in currency exchange rates may favorably or unfavorably affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, less stringent investor protection and disclosure standards, less reliable settlement practices, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater volatility in currency exchange rates, and are more susceptible to environmental problems.

Notes to Portfolio of Investments (Unaudited) (Continued)

Federal Income Tax 

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

Dividends and Distributions to Shareholders

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

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

3. Federal Income Tax Information

At December 31, 2022, the aggregate cost of investments and the unrealized appreciation/(depreciation) in the value of all investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:

	Federal Income Tax Cost		Tax Basis Unrealized Appreciation		Tax Basis Unrealized (Depreciation)			Net Unrealized Appreciation/ (Depreciation)
Short-Duration Bond Fund	$	387,346,292	$	349,210	$	(56,879,043	)	$	(56,529,833	)
Inflation-Protected and Income Fund		309,765,856		474,277		(17,846,349	)		(17,372,072	)
Core Bond Fund		907,912,159		1,463,129		(106,489,281	)		(105,026,152	)
Diversified Bond Fund		190,013,889		633,846		(25,681,305	)		(25,047,459	)
High Yield Fund		442,917,365		1,253,854		(56,615,910	)		(55,362,056	)
Balanced Fund		127,612,728		5,083,411		(9,406,118	)		(4,322,707	)
Disciplined Value Fund		71,043,034		7,932,856		(4,980,430	)		2,952,426
Main Street Fund		67,061,046		9,597,111		(5,198,202	)		4,398,909
Disciplined Growth Fund		160,222,981		7,964,305		(19,448,147	)		(11,483,842	)
Small Cap Opportunities Fund		277,567,163		48,637,665		(12,618,108	)		36,019,557
Global Fund		142,830,523		73,115,039		(10,339,344	)		62,775,695
International Equity Fund		128,984,223		9,379,467		(10,515,572	)		(1,136,105	)
Strategic Emerging Markets Fund		128,142,381		6,179,194		(16,701,531	)		(10,522,337	)

4. New Accounting Pronouncements

In June 2022, FASB issued Accounting Standards Update 2022-03 — Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 clarifies the guidance in Topic 820 to indicate that a contractual sale restriction should not be considered in the fair value of an equity security subject to such a restriction, and requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. ASU 2022-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, and allows for early adoption. ASU 2022-03 will only be applicable to an equity security in which the contractual arrangement that restricts its sale is executed or modified on or after the adoption date. Management is currently evaluating the impact of applying this update.

Notes to Portfolio of Investments (Unaudited) (Continued)

5. Coronavirus (COVID-19) Pandemic

The global pandemic outbreak of the novel coronavirus known as COVID-19 and efforts to contain its spread have produced, and will likely continue to produce, substantial market volatility, severe market dislocations and liquidity constraints in many markets, exchange trading suspensions and closures, higher default rates, and global business disruption, and they may result in future significant adverse effects, such as declines in global financial markets and a substantial economic downturn or recession throughout the world. Such factors may have a significant adverse effect on a Fund’s performance and have the potential to impair the ability of a Fund’s investment adviser, subadviser, or other service providers to serve the Fund and could lead to disruptions that negatively impact the Fund.

6. Russia-Ukraine War 

In February 2022, Russia commenced a large-scale military attack on Ukraine. The outbreak of hostilities between the two countries could result in more widespread conflict and could have a severe adverse effect on the regional and the global financial markets and economies. One or more of the Funds hold positions in securities or other instruments that are economically tied to Russia. Investments in Russia are subject to political, economic, legal, market, and currency risks, as well as the risks related to the economic sanctions on Russia, Russian individuals, and Russian corporate and banking entities imposed by the United States and/or other countries. Such sanctions — which affect companies in many sectors, including energy, financial services, and defense, among others — could adversely affect the global energy and financial markets and, thus, could affect the value of a Fund’s investments, even beyond any direct exposure the Fund may have to Russian issuers or the adjoining geographic regions. Such sanctions may also result in a decline in the value and liquidity of Russian securities and a weakening of the ruble, and will impair a Fund's ability to buy, sell, receive, or deliver Russian securities. In addition, certain transactions have been or may be prohibited and/or existing investments have or may become illiquid (e.g., because transacting in certain existing investments is prohibited), which could cause a Fund to sell other portfolio holdings at a disadvantageous time or price in order to meet shareholder redemptions.