# EDGAR Filing Document

**Accession Number:** 0001859808
**File Stem:** 0001410368-25-031188
**Filing Date:** 2025-11
**Character Count:** 22902
**Document Hash:** 2a499da2e169df9fd592e5d2b01e78f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031188.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031188

**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:** 251522935

**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 Municipal Fund (Series ID: S000083941)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000248056 | Class Y      | MMZWX           |
| C000248057 | Class I      | MMZVX           |
| C000248058 | Class A      | MMZUX           |

## 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 Municipal Fund

- **b. EDGAR series identifier (if any):** S000083941

- **c. LEI of Series:** 254900B1O2GE3KT32A53

**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:** $61520485.74

**Total Liabilities:** $282474.25

**Net Assets:** $61238011.49

**Cash Not Reported:** $84884.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -167.66000000 | **1-Year:** -1473.84000000 | **5-Year:** -8046.86000000 | **10-Year:** -16513.75000000 | **30-Year:** -2392.61000000

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

- **3-Month:** -15.59000000 | **1-Year:** -318.01000000 | **5-Year:** -3119.31000000 | **10-Year:** -8288.34000000 | **30-Year:** -664.48000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248056 | -0.37%               | 0.66%                | 2.37%                |
| Class ID C000248058 | -0.29%               | 0.53%                | 2.45%                |
| Class ID C000248057 | -0.26%               | 0.56%                | 2.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-324491.82                                |
| Month 2  | $0.00                    | $202442.06                                 |
| Month 3  | $0.00                    | $1280744.71                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Concord Community Schools Building Corp                                 | CONCORD IN CMNTY SCHS BLDG CORP                              | CUSIP: 206256WD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067337.50   | 1.74%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund                | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59259N2G7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1447610.84   | 2.36%             | 2027-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                    | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593A85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2406171.16   | 3.93%             | 2039-01-01      | Fixed         | 5.00%                 | 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   | 3.93%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | ILLINOIS ST                                                  | CUSIP: 452153JY6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2364349.05   | 3.86%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Conroe Independent School District                                      | CONROE TX INDEP SCH DIST                                     | CUSIP: 2084185A7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1157330.00   | 1.89%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lafayette LA Utilities Revenue                                  | LAFAYETTE LA UTILITIES REVENUE                               | CUSIP: 506498E26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122370.70   | 1.83%             | 2036-11-01      | 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        |    600000 | PA      | $600000.00    | 0.98%             | 2037-01-15      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                               | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YGE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    855000 | PA      | $952522.92    | 1.56%             | 2063-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                               | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LJH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $613559.67    | 1.00%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Water Resources Board                                          | OKLAHOMA ST WTR RES BRD ST LOAN PROGRAM REVENUE              | CUSIP: 67920Q3X4<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |    505000 | PA      | $473994.31    | 0.77%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hurst-Euless-Bedford Independent School District                        | HURST-EULESS-BEDFORD TX INDEP SCH DIST                       | CUSIP: 447819KF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008116.80   | 3.28%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Montgomery County Improvement District Sales Tax Revenue           | E MONTGOMERY CNTY TX IMPT DIST SALES TAX REVENUE             | CUSIP: 273735DP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089847.30   | 1.78%             | 2038-08-15      | Fixed         | 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        |   1000000 | PA      | $1016429.70   | 1.66%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                   | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145WC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1231688.65   | 2.01%             | 2036-08-15      | 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   | 3.76%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Montgomery Independent School District                                  | MONTGOMERY TX INDEP SCH DIST                                 | CUSIP: 614121B34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1190846.63   | 1.94%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                            | PENNSYLVANIA ST                                              | CUSIP: 70914PE57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2348702.96   | 3.84%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                    | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682ZM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2386943.78   | 3.90%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 8371515K1<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075997.00   | 1.76%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | NEW YORK NY                                                  | CUSIP: 64966QQC7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2400598.92   | 3.92%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XK80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1042321.46   | 1.70%             | 2039-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Arlington VA                                                  | ARLINGTON CNTY VA                                            | CUSIP: 041431RA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022541.00   | 1.67%             | 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   | 2.14%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bexar County Hospital District                                          | BEXAR CNTY TX HOSP DIST                                      | CUSIP: 088365MB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1556037.15   | 2.54%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lehigh County General Purpose Authority                                 | LEHIGH CNTY PA GEN PURPOSE AUTH REVENUES                     | CUSIP: 52480RGH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $912141.09    | 1.49%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | NEW YORK NY                                                  | CUSIP: 64966LLS8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.33%             | 2040-03-01      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Lehigh County General Purpose Authority                                 | LEHIGH CNTY PA GEN PURPOSE AUTH REVENUES                     | CUSIP: 52480RGG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $833729.84    | 1.36%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Virginia                                                | VIRGINIA ST                                                  | CUSIP: 928110BW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1756720.46   | 2.87%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XHT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.49%             | 2042-08-01      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| County of Parker TX                                                     | PARKER CNTY TX                                               | CUSIP: 701060LQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1570125.60   | 2.56%             | 2040-02-15      | Fixed         | 4.00%                 | 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   | 2.65%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Rapids Public Schools                                             | GRAND RAPIDS MI PUBLIC SCHS                                  | CUSIP: 386280SE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1279187.44   | 2.09%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Turnpike System                                           | TEXAS ST TRANSPRTN COMMISSION CENTRAL TX TURNPIKE SYS REVENU | CUSIP: 88283KBX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1259486.38   | 2.06%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                           | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285AFQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2210000 | PA      | $2424540.83   | 3.96%             | 2039-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                   | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145SM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1290149.22   | 2.11%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Sports Authority    | MET GOVT NASHVILLE & DAVIDSONCNTY TN SPORTS AUTH             | CUSIP: 592090JV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060480.80   | 1.73%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                   | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145VC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1131273.50   | 1.85%             | 2034-02-15      | 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   | 3.97%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | NEW YORK CITY NY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JPM4<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1708015.93   | 2.79%             | 2044-11-01      | 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   | 1.83%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                                           | NEW YORK ST URBAN DEV CORP SALES TAX REVENUE                 | CUSIP: 64985TCQ2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   2235000 | PA      | $2128347.36   | 3.48%             | 2043-03-15      | 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   | 1.84%             | 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