# EDGAR Filing Document

**Accession Number:** 0001859808
**File Stem:** 0001410368-25-031167
**Filing Date:** 2025-11
**Character Count:** 20126
**Document Hash:** c683d15321dccfcf5626a25c71bf002a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031167.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031167

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MassMutual Advantage Funds
- **CENTRAL INDEX KEY:** 0001859808

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23703
- **FILM NUMBER:** 251522915

**BUSINESS ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111
- **BUSINESS PHONE:** (860) 562-1000

**MAIL ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111

## Series and Classes Contracts Data

### MassMutual Clinton Limited Term Municipal Fund (Series ID: S000083942)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000248059 | Class Y      | MMZQX           |
| C000248060 | Class A      | MMJDX           |
| C000248061 | Class I      | MMZPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** MassMutual Advantage Funds

- **b. Investment Company Act file number:** 811-23703

- **c. CIK number of Registrant:** 0001859808

- **d. LEI of Registrant:** 5493000RE63N3B1HWL58

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1295 STATE STREET

  - **City:** SPRINGFIELD

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 01111-0001

  - **Telephone number:** 413-744-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** MassMutual Clinton Limited Term Municipal Fund

- **b. EDGAR series identifier (if any):** S000083942

- **c. LEI of Series:** 254900LLC3WXTAOMNA59

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $55550847.65

**Total Liabilities:** $1365458.25

**Net Assets:** $54185389.40

**Delayed Delivery Securities:** $1128540.00

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -335.37000000 | **1-Year:** -1565.38000000 | **5-Year:** -8691.98000000 | **10-Year:** -4417.54000000 | **30-Year:** -205.02000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -69.72000000 | **1-Year:** -465.91000000 | **5-Year:** -3251.09000000 | **10-Year:** -2101.01000000 | **30-Year:** -129.90000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248061 | 0.33%                | 0.62%                | 0.86%                |
| Class ID C000248060 | 0.30%                | 0.59%                | 0.83%                |
| Class ID C000248059 | 0.32%                | 0.61%                | 0.85%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $71922.10                                  |
| Month 2  | $59.62                   | $203725.20                                 |
| Month 3  | $0.00                    | $310862.48                                 |

### Schedule of Portfolio Investments

| Name                                                               | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Metropolitan Transportation Authority Dedicated Tax Fund           | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59259N2G7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1751557.60   | 3.23%             | 2027-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX                                             | SAN ANTONIO TX                                               | CUSIP: 7962373F0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2409446.00   | 4.45%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fayette County Development Authority                               | FAYETTE CNTY GA DEV AUTH REVENUE                             | CUSIP: 31222PAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155788.05    | 0.29%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                            | CAPITAL TRUST AUTH FL HLTH CARE FACS REVENUE                 | CUSIP: 14055GAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2078262.56   | 3.84%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lehigh County General Purpose Authority                            | LEHIGH CNTY PA GEN PURPOSE AUTH REVENUES                     | CUSIP: 52480RGE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $551084.05    | 1.02%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                      | OHIO ST                                                      | CUSIP: 677523LF7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2534621.85   | 4.68%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Wisconsin Hospitals & Clinics                        | UNIV HOSPS & CLINICS AUTH WI                                 | CUSIP: 915260FB4<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |    575000 | PA      | $634570.52    | 1.17%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                       | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE     | CUSIP: 160853MS3<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 2.58%             | 2037-01-15      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority Water Pollution Control Loan Fund | OHIO ST WTR DEV AUTH WTR POLL CONTROL REVENUE                | CUSIP: 67766WF31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007738.40   | 3.71%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                              | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145UY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2166119.78   | 4.00%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Turnpike System                                      | TEXAS ST TRANSPRTN COMMISSION CENTRAL TX TURNPIKE SYS REVENU | CUSIP: 88283KBW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $2017875.42   | 3.72%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                          | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YGE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1392577.38   | 2.57%             | 2063-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Florida                                                   | FLORIDA ST BRD OF EDU PUBLIC EDU                             | CUSIP: 34153QXH4<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032859.40   | 3.75%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                            | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 837151ZL6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1245810.15   | 2.30%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                 | CHICAGO IL                                                   | CUSIP: 167486M48<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2303557.44   | 4.25%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Valparaiso 21st Century School Building Corp                       | VALPARAISO IN 21ST CENTURY SCH BLDG CORP                     | CUSIP: 920272AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1123660.10   | 2.07%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                              | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AJ73<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2192437.60   | 4.05%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                       | PENNSYLVANIA ST                                              | CUSIP: 70914PE57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2369126.46   | 4.37%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                 | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837032BJ9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2342328.03   | 4.32%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                       | CHARLOTTE-MECKLENBURG NC HOSPAUTH HLTH CARE SYS REVENUE      | CUSIP: 160853UN5<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.55%             | 2048-01-15      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                   | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224XS3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2305023.15   | 4.25%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                                         | FIXED INC CLEARING CORP.REPO                                 | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |    734102 | PA      | $734101.75    | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| City of Chicago IL Waterworks Revenue                              | CHICAGO IL WTRWKS REVENUE                                    | CUSIP: 167736G50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1252139.26   | 2.31%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Commonwealth Transportation Board                         | VIRGINIA ST CMWLTH TRANSPRTN BRD FEDERAL TRANSPRTRN GRANT    | CUSIP: 92778UAU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021742.60   | 3.73%             | 2026-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Independent School District                                 | DALLAS TX INDEP SCH DIST                                     | CUSIP: 235308Q97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $807035.28    | 1.49%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Arlington VA                                             | ARLINGTON CNTY VA                                            | CUSIP: 041431RA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1840573.80   | 3.40%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                          | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B7W8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1309126.96   | 2.42%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fayette County Development Authority                               | FAYETTE CNTY GA DEV AUTH REVENUE                             | CUSIP: 31222PAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $152776.56    | 0.28%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                         | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445JJ9<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041215.90   | 1.92%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                      | CENTRL PLAINS ENERGY PROJ NE GAS PROJ REVENUE                | CUSIP: 154871CH8<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1623180.75   | 3.00%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                              | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399UE4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    250000 | PA      | $271580.13    | 0.50%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Wisconsin Hospitals & Clinics                        | UNIV HOSPS & CLINICS AUTH WI                                 | CUSIP: 915260FA6<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |    745000 | PA      | $806187.89    | 1.49%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lehigh County General Purpose Authority                            | LEHIGH CNTY PA GEN PURPOSE AUTH REVENUES                     | CUSIP: 52480RGB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538327.45    | 0.99%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                  | ILLINOIS ST                                                  | CUSIP: 452153KS7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2520879.30   | 4.65%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp          | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638THF3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2430463.64   | 4.49%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                            | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 8371512M0<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1121137.81   | 2.07%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                   | MARICOPA CNTY AZ INDL DEV AUTH HOSP REVENUE                  | CUSIP: 56678PCA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1125959.40   | 2.08%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-22

**Name of Applicant:** MassMutual Advantage Funds

**Signature:** Renee Hitchcock

**Name of Signer:** Renee Hitchcock

**Title:** CFO and Treasurer