# EDGAR Filing Document

**Accession Number:** 0001126087
**File Stem:** 0001410368-25-031677
**Filing Date:** 2025-11
**Character Count:** 2936357
**Document Hash:** 4b71470f3e78e5188b03d16b9f3f44ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031677.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031677

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brighthouse Funds Trust I
- **CENTRAL INDEX KEY:** 0001126087

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10183
- **FILM NUMBER:** 251524565

**BUSINESS ADDRESS:**
- **STREET 1:** BRIGHTHOUSE INVESTMENT ADVISERS, LLC
- **STREET 2:** 11225 NORTH COMMUNITY HOUSE RD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277
- **BUSINESS PHONE:** 9809495121

**MAIL ADDRESS:**
- **STREET 1:** BRIGHTHOUSE INVESTMENT ADVISERS, LLC
- **STREET 2:** 11225 NORTH COMMUNITY HOUSE RD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MET INVESTORS SERIES TRUST
- **DATE OF NAME CHANGE:** 20001010

## Series and Classes Contracts Data

### Schroders Global Multi-Asset Portfolio (Series ID: S000036842)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000112671 | Class B      |  |

## Nport-Ex

Brighthouse Funds Trust I

Schedule of Investments

September 30, 2025

------

**Brighthouse Funds Trust I**

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Glossary of Abbreviations  | **BHFTI-**2 |
| **Schedule of Investments as of September 30, 2025** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB Global Dynamic Allocation Portfolio  | **BHFTI-**3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Bond Portfolio  | **BHFTI-**27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allspring Mid Cap Value Portfolio  | **BHFTI-**41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds<sup>®</sup> Aggressive Allocation Portfolio  | **BHFTI-**45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds<sup>®</sup> Balanced Allocation Portfolio  | **BHFTI-**46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds<sup>®</sup> Growth Portfolio  | **BHFTI-**47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds<sup>®</sup> Moderate Allocation Portfolio  | **BHFTI-**48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BlackRock Global Tactical Strategies Portfolio  | **BHFTI-**49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BlackRock High Yield Portfolio  | **BHFTI-**54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Artisan International Portfolio  | **BHFTI-**82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse Asset Allocation 100 Portfolio  | **BHFTI-**85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse Balanced Plus Portfolio  | **BHFTI-**88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse Small Cap Value Portfolio  | **BHFTI-**93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Eaton Vance Floating Rate Portfolio  | **BHFTI-**98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Franklin Low Duration Total Return Portfolio  | **BHFTI-**111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Templeton International Bond Portfolio  | **BHFTI-**127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Wellington Large Cap Research Portfolio  | **BHFTI-**131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CBRE Global Real Estate Portfolio  | **BHFTI-**136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harris Oakmark International Portfolio  | **BHFTI-**140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Balanced-Risk Allocation Portfolio  | **BHFTI-**144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Comstock Portfolio  | **BHFTI-**148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Global Equity Portfolio  | **BHFTI-**153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Small Cap Growth Portfolio  | **BHFTI-**156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Core Bond Portfolio  | **BHFTI-**159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Global Active Allocation Portfolio  | **BHFTI-**175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Small Cap Value Portfolio  | **BHFTI-**201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Global Allocation Portfolio  | **BHFTI-**209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Growth Portfolio  | **BHFTI-**221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife Multi-Index Targeted Risk Portfolio  | **BHFTI-**224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MFS<sup>®</sup> Research International Portfolio  | **BHFTI-**226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Discovery Portfolio  | **BHFTI-**230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PanAgora Global Diversified Risk Portfolio  | **BHFTI-**235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Inflation Protected Bond Portfolio  | **BHFTI-**242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio  | **BHFTI-**256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schroders Global Multi-Asset Portfolio  | **BHFTI-**283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SSGA Emerging Markets Enhanced Index Portfolio  | **BHFTI-**301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SSGA Growth and Income ETF Portfolio  | **BHFTI-**310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SSGA Growth ETF Portfolio  | **BHFTI-**314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T. Rowe Price Large Cap Value Portfolio  | **BHFTI-**317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T. Rowe Price Mid Cap Growth Portfolio  | **BHFTI-**322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCW Core Fixed Income Portfolio  | **BHFTI-**327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Victory Sycamore Mid Cap Value Portfolio  | **BHFTI-**336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Asset Management Government Income Portfolio  | **BHFTI-**340 |
| Notes to the Schedule of Investments  | **BHFTI-**348 |

---

Not all Portfolios are available under every product. <br>Refer to your prospectus for information on the Portfolios that are available.

------

**Brighthouse Funds Trust I**

**Glossary of Abbreviations**

Counterparties

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(ANZ) — Australia & New Zealand Banking Corp.

&nbsp;&nbsp;&nbsp;&nbsp;(BBP) — Barclays Bank PLC

&nbsp;&nbsp;&nbsp;&nbsp;(BNP) — BNP Paribas SA

&nbsp;&nbsp;&nbsp;&nbsp;(BNY) — Bank of New York Mellon

&nbsp;&nbsp;&nbsp;&nbsp;(BOA) — Bank of America NA

&nbsp;&nbsp;&nbsp;&nbsp;(CBNA) — Citibank NA

&nbsp;&nbsp;&nbsp;&nbsp;(CIBC) — Canadian Imperial Bank of Commerce

&nbsp;&nbsp;&nbsp;&nbsp;(DBAG) — Deutsche Bank AG

&nbsp;&nbsp;&nbsp;&nbsp;(GSBU) — Goldman Sachs Bank USA

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(GSI) — Goldman Sachs International

&nbsp;&nbsp;&nbsp;&nbsp;(HSBC) — HSBC Bank PLC

&nbsp;&nbsp;&nbsp;&nbsp;(HSBCU) — HSBC Bank USA

&nbsp;&nbsp;&nbsp;&nbsp;(JPMC) — JPMorgan Chase Bank NA

&nbsp;&nbsp;&nbsp;&nbsp;(MBL) — Macquarie Bank, Ltd.

&nbsp;&nbsp;&nbsp;&nbsp;(MLI) — Merrill Lynch International

&nbsp;&nbsp;&nbsp;&nbsp;(MSC) — Morgan Stanley & Co.

&nbsp;&nbsp;&nbsp;&nbsp;(MSCS) — Morgan Stanley Capital Services LLC

&nbsp;&nbsp;&nbsp;&nbsp;(MSIP) — Morgan Stanley & Co. International PLC

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(NWM) — NatWest Markets PLC

&nbsp;&nbsp;&nbsp;&nbsp;(RBC) — Royal Bank of Canada

&nbsp;&nbsp;&nbsp;&nbsp;(SCB) — Standard Chartered Bank

&nbsp;&nbsp;&nbsp;&nbsp;(SG) — Societe Generale Paris

&nbsp;&nbsp;&nbsp;&nbsp;(SSBT) — State Street Bank and Trust Co.

&nbsp;&nbsp;&nbsp;&nbsp;(TDB) — Toronto Dominion Bank

&nbsp;&nbsp;&nbsp;&nbsp;(UBSA) — UBS AG

Currencies

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(AUD) — Australian Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(BRL) — Brazilian Real

&nbsp;&nbsp;&nbsp;&nbsp;(CAD) — Canadian Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(CHF) — Swiss Franc

&nbsp;&nbsp;&nbsp;&nbsp;(CLP) — Chilean Peso

&nbsp;&nbsp;&nbsp;&nbsp;(CNH) — Chinese Renminbi

&nbsp;&nbsp;&nbsp;&nbsp;(CNY) — Chinese Yuan

&nbsp;&nbsp;&nbsp;&nbsp;(COP) — Colombian Peso

&nbsp;&nbsp;&nbsp;&nbsp;(DKK) — Danish Krone

&nbsp;&nbsp;&nbsp;&nbsp;(EGP) — Egypt Pound

&nbsp;&nbsp;&nbsp;&nbsp;(EUR) — Euro

&nbsp;&nbsp;&nbsp;&nbsp;(GBP) — British Pound

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(GHS) — Ghanaian Cedi

&nbsp;&nbsp;&nbsp;&nbsp;(HKD) — Hong Kong Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(HUF) — Hungarian Forint

&nbsp;&nbsp;&nbsp;&nbsp;(IDR) — Indonesian Rupiah

&nbsp;&nbsp;&nbsp;&nbsp;(ILS) — Israeli Shekel

&nbsp;&nbsp;&nbsp;&nbsp;(INR) — Indian Rupee

&nbsp;&nbsp;&nbsp;&nbsp;(JPY) — Japanese Yen

&nbsp;&nbsp;&nbsp;&nbsp;(KRW) — South Korean Won

&nbsp;&nbsp;&nbsp;&nbsp;(MXN) — Peso

&nbsp;&nbsp;&nbsp;&nbsp;(MYR) — Malaysian Ringgit

&nbsp;&nbsp;&nbsp;&nbsp;(NOK) — Norwegian Krone

&nbsp;&nbsp;&nbsp;&nbsp;(NZD) — New Zealand Dollar

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(PEN) — Peruvian Nuevo Sol

&nbsp;&nbsp;&nbsp;&nbsp;(PLN) — Polish Zloty

&nbsp;&nbsp;&nbsp;&nbsp;(RSD) — Serbian Dinar

&nbsp;&nbsp;&nbsp;&nbsp;(SEK) — Swedish Krona

&nbsp;&nbsp;&nbsp;&nbsp;(SGD) — Singapore Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(THB) — Thai Baht

&nbsp;&nbsp;&nbsp;&nbsp;(TRY) — Turkish Lira

&nbsp;&nbsp;&nbsp;&nbsp;(TWD) — Taiwanese New Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(USD) — United States Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(UYU) — Uruguay Peso

&nbsp;&nbsp;&nbsp;&nbsp;(ZAR) — South African Rand

Index Abbreviations

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| (BBSW) | — Australian 3 Month Bank Bill Rate |
| (CDI) | — Brazil Interbank Deposit Rate |
| (CDX.NA.HY) | — Markit North America High Yield CDS Index |
| (CDX.NA.IG) | &nbsp;&nbsp;&nbsp;&nbsp; — Markit North America Investment Grade CDS <br> Index<br>|
| (CNRR) | — China 7 Day Reverse Repo Rates |
| (CORRA) | — Canadian Overnight Repo Rate Average |
| (CPALEMU) | &nbsp;&nbsp;&nbsp;&nbsp; — Euro Area All Items Index Non-Seasonally <br> Adjusted<br>|
| (CPURNSA) | &nbsp;&nbsp;&nbsp;&nbsp; — U.S. Consumer Price for All Urban Consumers <br> Non-Seasonally Adjusted<br>|
| (ECOFC) | — Enterprise 11th District COFI Replacement Index |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| (ESTR) | — Euro Short Term Rate |
| (EURIBOR) | — Euro Interbank Offered Rate |
| (FRCPXT) | — France Consumer Price ex-Tobacco Index |
| (H15) | &nbsp;&nbsp;&nbsp;&nbsp; — U.S. Treasury Yield Curve Rate T-Note Constant <br> Maturity Index<br>|
| (HICP) | — Harmonized Index of Consumer Prices |
| (ITRX.AUS) | — Markit iTraxx Australia Index |
| (MTA) | — Monthly Treasury Average Index |
| (NZDBB) | — New Zealand Dollar Bank Bill Index |
| (OBFR) | — U.S. Overnight Bank Funding Rate |
| (PRIME) | — U.S. Federal Reserve Prime Rate |
| (RFUCCT) | — Refinitiv USD IBOR Consumer Cash Fallbacks Term |

---

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(SOFR) — Secured Overnight Financing Rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(SOFR30A) — Secured Overnight Financing Rate 30-Day Average

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(SOFR90A) — Secured Overnight Financing Rate 90-Day Average

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(SONIA) — Sterling Overnight Interbank Average Rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(TONA) — Tokyo Overnight Average Rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(TSFR) — Term Secured Overnight Financing Rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(UKG) — U.K. Government Bond

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(UKRPI) — United Kingdom Retail Price Index

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(UST) — U.S. Treasury Bill Rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(USTBMM) — U.S. Treasury Bill Money Market Yield

Other Abbreviations

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(ACES) — Alternative Credit Enhancement Securities

&nbsp;&nbsp;&nbsp;&nbsp;(ADR) — American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;(ARM) — Adjustable-Rate Mortgage

&nbsp;&nbsp;&nbsp;&nbsp;(CLO) — Collateralized Loan Obligation

&nbsp;&nbsp;&nbsp;&nbsp;(DAC) — Designated Activity Company

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(ETF) — Exchange-Traded Fund

&nbsp;&nbsp;&nbsp;&nbsp;(GDR) — Global Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;(ICE) — Intercontinental Exchange, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;(IG) — Investment Grade

&nbsp;&nbsp;&nbsp;&nbsp;(IRS) — Interest Rate Swap

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(MTN) — Medium-Term Note

&nbsp;&nbsp;&nbsp;&nbsp;(NVDR) — Non-Voting Depository Receipts

&nbsp;&nbsp;&nbsp;&nbsp;(REIT) — Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;(REMICS) — Real Estate Mortgage Investment Conduit

&nbsp;&nbsp;&nbsp;&nbsp;(STACR) — Structured Agency Credit Risk

**BHFTI-2**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—61.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** |
| Airbus SE | 8738 | &nbsp;&nbsp;&nbsp; $2042641 |
| Axon Enterprise, Inc. (a) | 991 | &nbsp;&nbsp;&nbsp; 711181 |
| BAE Systems PLC | 44296 | &nbsp;&nbsp;&nbsp; 1227435 |
| Boeing Co. (a) | 9541 | &nbsp;&nbsp;&nbsp; 2059234 |
| Dassault Aviation SA | 288 | &nbsp;&nbsp;&nbsp; 96132 |
| Elbit Systems Ltd.  | 409 | &nbsp;&nbsp;&nbsp; 207230 |
| General Dynamics Corp.  | 3186 | &nbsp;&nbsp;&nbsp; 1086426 |
| General Electric Co.  | 13380 | &nbsp;&nbsp;&nbsp; 4024972 |
| Hensoldt AG | 934 | &nbsp;&nbsp;&nbsp; 120968 |
| Howmet Aerospace, Inc.  | 5087 | &nbsp;&nbsp;&nbsp; 998222 |
| Huntington Ingalls Industries, Inc.  | 495 | &nbsp;&nbsp;&nbsp; 142516 |
| Kongsberg Gruppen ASA | 6470 | &nbsp;&nbsp;&nbsp; 206712 |
| L3Harris Technologies, Inc.  | 2361 | &nbsp;&nbsp;&nbsp; 721073 |
| Leonardo SpA | 5952 | &nbsp;&nbsp;&nbsp; 378094 |
| Lockheed Martin Corp.  | 2592 | &nbsp;&nbsp;&nbsp; 1293952 |
| Melrose Industries PLC | 18707 | &nbsp;&nbsp;&nbsp; 154132 |
| MTU Aero Engines AG | 792 | &nbsp;&nbsp;&nbsp; 363506 |
| Northrop Grumman Corp.  | 1698 | &nbsp;&nbsp;&nbsp; 1034625 |
| Rheinmetall AG | 675 | &nbsp;&nbsp;&nbsp; 1571306 |
| Rolls-Royce Holdings PLC | 124245 | &nbsp;&nbsp;&nbsp; 1989137 |
| RTX Corp.  | 16889 | &nbsp;&nbsp;&nbsp; 2826036 |
| Saab AB - Class B | 4711 | &nbsp;&nbsp;&nbsp; 286965 |
| Safran SA | 5295 | &nbsp;&nbsp;&nbsp; 1875176 |
| Singapore Technologies Engineering Ltd.  | 23071 | &nbsp;&nbsp;&nbsp; 154212 |
| Textron, Inc.  | 2249 | &nbsp;&nbsp;&nbsp; 190018 |
| Thales SA | 1363 | &nbsp;&nbsp;&nbsp; 427134 |
| TransDigm Group, Inc.  | 711 | &nbsp;&nbsp;&nbsp; 937112 |
|  |  | &nbsp;&nbsp;&nbsp; 27126147 |
| **Air Freight & Logistics — 0.2%** | **Air Freight & Logistics — 0.2%** | **Air Freight & Logistics — 0.2%** |
| CH Robinson Worldwide, Inc.  | 1490 | &nbsp;&nbsp;&nbsp; 197276 |
| Deutsche Post AG | 14116 | &nbsp;&nbsp;&nbsp; 629574 |
| DSV AS | 3005 | &nbsp;&nbsp;&nbsp; 599921 |
| Expeditors International of Washington, Inc.  | 1712 | &nbsp;&nbsp;&nbsp; 209874 |
| FedEx Corp.  | 2738 | &nbsp;&nbsp;&nbsp; 645648 |
| InPost SA (a) | 3677 | &nbsp;&nbsp;&nbsp; 45154 |
| SG Holdings Co. Ltd.  | 4226 | &nbsp;&nbsp;&nbsp; 43626 |
| United Parcel Service, Inc. - Class B | 9287 | &nbsp;&nbsp;&nbsp; 775743 |
|  |  | &nbsp;&nbsp;&nbsp; 3146816 |
| **Automobile Components — 0.1%** | **Automobile Components — 0.1%** | **Automobile Components — 0.1%** |
| Aisin Corp.  | 7298 | &nbsp;&nbsp;&nbsp; 126070 |
| Aptiv PLC (a) | 2748 | &nbsp;&nbsp;&nbsp; 236933 |
| Bridgestone Corp.  | 8371 | &nbsp;&nbsp;&nbsp; 387068 |
| Cie Generale des Etablissements Michelin SCA | 9860 | &nbsp;&nbsp;&nbsp; 354165 |
| Continental AG | 1618 | &nbsp;&nbsp;&nbsp; 106673 |
| Denso Corp.  | 25734 | &nbsp;&nbsp;&nbsp; 370585 |
| Sumitomo Electric Industries Ltd.  | 10501 | &nbsp;&nbsp;&nbsp; 298342 |
|  |  | &nbsp;&nbsp;&nbsp; 1879836 |
| **Automobiles — 1.3%** | **Automobiles — 1.3%** | **Automobiles — 1.3%** |
| Bayerische Motoren Werke AG | 4126 | &nbsp;&nbsp;&nbsp; 414018 |
| Ferrari NV | 1854 | &nbsp;&nbsp;&nbsp; 897618 |
| Ford Motor Co.  | 49323 | &nbsp;&nbsp;&nbsp; 589903 |
| General Motors Co.  | 12013 | &nbsp;&nbsp;&nbsp; 732433 |
| Honda Motor Co. Ltd. (b) | 58247 | &nbsp;&nbsp;&nbsp; 598401 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Automobiles—(Continued)** | **Automobiles—(Continued)** | **Automobiles—(Continued)** |
| Isuzu Motors Ltd.  | 7892 | &nbsp;&nbsp;&nbsp; $99609 |
| Mercedes-Benz Group AG | 10619 | &nbsp;&nbsp;&nbsp; 667222 |
| Nissan Motor Co. Ltd. (a) | 32761 | &nbsp;&nbsp;&nbsp; 80363 |
| Renault SA | 2828 | &nbsp;&nbsp;&nbsp; 116468 |
| Stellantis NV | 29655 | &nbsp;&nbsp;&nbsp; 274492 |
| Subaru Corp.  | 8626 | &nbsp;&nbsp;&nbsp; 176785 |
| Suzuki Motor Corp.  | 23118 | &nbsp;&nbsp;&nbsp; 336985 |
| Tesla, Inc. (a) | 35407 | &nbsp;&nbsp;&nbsp; 15746201 |
| Toyota Motor Corp.  | 139342 | &nbsp;&nbsp;&nbsp; 2666679 |
| Yamaha Motor Co. Ltd.  | 13482 | &nbsp;&nbsp;&nbsp; 101314 |
|  |  | &nbsp;&nbsp;&nbsp; 23498491 |
| **Banks — 3.8%** | **Banks — 3.8%** | **Banks — 3.8%** |
| ABN AMRO Bank NV | 8576 | &nbsp;&nbsp;&nbsp; 274641 |
| AIB Group PLC | 31426 | &nbsp;&nbsp;&nbsp; 285198 |
| ANZ Group Holdings Ltd.  | 43872 | &nbsp;&nbsp;&nbsp; 961991 |
| Banca Monte dei Paschi di Siena SpA | 29048 | &nbsp;&nbsp;&nbsp; 257923 |
| Banco Bilbao Vizcaya Argentaria SA | 84751 | &nbsp;&nbsp;&nbsp; 1630483 |
| Banco BPM SpA | 16713 | &nbsp;&nbsp;&nbsp; 250277 |
| Banco Comercial Portugues SA - Class R | 122276 | &nbsp;&nbsp;&nbsp; 108466 |
| Banco de Sabadell SA | 72375 | &nbsp;&nbsp;&nbsp; 281166 |
| Banco Santander SA | 218896 | &nbsp;&nbsp;&nbsp; 2287746 |
| Bank Hapoalim BM | 18385 | &nbsp;&nbsp;&nbsp; 373805 |
| Bank Leumi Le-Israel BM | 21967 | &nbsp;&nbsp;&nbsp; 433169 |
| Bank of America Corp.  | 85983 | &nbsp;&nbsp;&nbsp; 4435863 |
| Bank of Ireland Group PLC | 14172 | &nbsp;&nbsp;&nbsp; 234597 |
| Bankinter SA | 9917 | &nbsp;&nbsp;&nbsp; 156430 |
| Banque Cantonale Vaudoise | 443 | &nbsp;&nbsp;&nbsp; 52432 |
| Barclays PLC | 207958 | &nbsp;&nbsp;&nbsp; 1066367 |
| BNP Paribas SA (b) | 14965 | &nbsp;&nbsp;&nbsp; 1364183 |
| BOC Hong Kong Holdings Ltd.  | 54314 | &nbsp;&nbsp;&nbsp; 255331 |
| BPER Banca SpA | 21513 | &nbsp;&nbsp;&nbsp; 239042 |
| CaixaBank SA | 57306 | &nbsp;&nbsp;&nbsp; 603363 |
| Chiba Bank Ltd.  | 8293 | &nbsp;&nbsp;&nbsp; 86963 |
| Citigroup, Inc.  | 23228 | &nbsp;&nbsp;&nbsp; 2357642 |
| Citizens Financial Group, Inc.  | 5443 | &nbsp;&nbsp;&nbsp; 289350 |
| Commerzbank AG | 11324 | &nbsp;&nbsp;&nbsp; 426528 |
| Commonwealth Bank of Australia | 24609 | &nbsp;&nbsp;&nbsp; 2721007 |
| Concordia Financial Group Ltd.  | 15156 | &nbsp;&nbsp;&nbsp; 116260 |
| Credit Agricole SA | 15576 | &nbsp;&nbsp;&nbsp; 306713 |
| Danske Bank AS | 9824 | &nbsp;&nbsp;&nbsp; 419794 |
| DBS Group Holdings Ltd.  | 31167 | &nbsp;&nbsp;&nbsp; 1234366 |
| DNB Bank ASA | 13039 | &nbsp;&nbsp;&nbsp; 356079 |
| Erste Group Bank AG | 4528 | &nbsp;&nbsp;&nbsp; 442637 |
| Fifth Third Bancorp | 8352 | &nbsp;&nbsp;&nbsp; 372082 |
| FinecoBank Banca Fineco SpA | 8997 | &nbsp;&nbsp;&nbsp; 194898 |
| Hang Seng Bank Ltd.  | 11103 | &nbsp;&nbsp;&nbsp; 169176 |
| HSBC Holdings PLC | 256508 | &nbsp;&nbsp;&nbsp; 3620549 |
| Huntington Bancshares, Inc.  | 18496 | &nbsp;&nbsp;&nbsp; 319426 |
| ING Groep NV | 44431 | &nbsp;&nbsp;&nbsp; 1157918 |
| Intesa Sanpaolo SpA | 209438 | &nbsp;&nbsp;&nbsp; 1385037 |
| Israel Discount Bank Ltd. - Class A | 18032 | &nbsp;&nbsp;&nbsp; 178312 |
| Japan Post Bank Co. Ltd.  | 26257 | &nbsp;&nbsp;&nbsp; 321767 |
| JPMorgan Chase & Co.  | 34696 | &nbsp;&nbsp;&nbsp; 10944159 |
| KBC Group NV | 3377 | &nbsp;&nbsp;&nbsp; 404763 |
| KeyCorp | 11760 | &nbsp;&nbsp;&nbsp; 219794 |

---

**BHFTI-3**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Lloyds Banking Group PLC | 880811 | &nbsp;&nbsp;&nbsp; $992188 |
| M&T Bank Corp.  | 1972 | &nbsp;&nbsp;&nbsp; 389707 |
| Mitsubishi UFJ Financial Group, Inc.  | 168578 | &nbsp;&nbsp;&nbsp; 2670507 |
| Mizrahi Tefahot Bank Ltd.  | 2294 | &nbsp;&nbsp;&nbsp; 150985 |
| Mizuho Financial Group, Inc.  | 37002 | &nbsp;&nbsp;&nbsp; 1238455 |
| National Australia Bank Ltd.  | 45041 | &nbsp;&nbsp;&nbsp; 1318276 |
| NatWest Group PLC | 119096 | &nbsp;&nbsp;&nbsp; 835945 |
| Nordea Bank Abp | 45921 | &nbsp;&nbsp;&nbsp; 755929 |
| Oversea-Chinese Banking Corp. Ltd.  | 49871 | &nbsp;&nbsp;&nbsp; 635986 |
| PNC Financial Services Group, Inc.  | 4969 | &nbsp;&nbsp;&nbsp; 998421 |
| Regions Financial Corp.  | 11259 | &nbsp;&nbsp;&nbsp; 296900 |
| Resona Holdings, Inc.  | 30561 | &nbsp;&nbsp;&nbsp; 311110 |
| Skandinaviska Enskilda Banken AB - Class A | 22264 | &nbsp;&nbsp;&nbsp; 435568 |
| Societe Generale SA | 10591 | &nbsp;&nbsp;&nbsp; 704464 |
| Standard Chartered PLC | 29056 | &nbsp;&nbsp;&nbsp; 563091 |
| Sumitomo Mitsui Financial Group, Inc.  | 54279 | &nbsp;&nbsp;&nbsp; 1519456 |
| Sumitomo Mitsui Trust Group, Inc.  | 9478 | &nbsp;&nbsp;&nbsp; 275005 |
| Svenska Handelsbanken AB - A Shares | 21452 | &nbsp;&nbsp;&nbsp; 280378 |
| Swedbank AB - A Shares | 12486 | &nbsp;&nbsp;&nbsp; 377596 |
| Truist Financial Corp.  | 16270 | &nbsp;&nbsp;&nbsp; 743864 |
| U.S. Bancorp | 19636 | &nbsp;&nbsp;&nbsp; 949008 |
| UniCredit SpA | 20616 | &nbsp;&nbsp;&nbsp; 1565243 |
| United Overseas Bank Ltd.  | 18875 | &nbsp;&nbsp;&nbsp; 506359 |
| Wells Fargo & Co.  | 40420 | &nbsp;&nbsp;&nbsp; 3388004 |
| Westpac Banking Corp.  | 50320 | &nbsp;&nbsp;&nbsp; 1294629 |
|  |  | &nbsp;&nbsp;&nbsp; 66794767 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| Anheuser-Busch InBev SA | 14535 | &nbsp;&nbsp;&nbsp; 869132 |
| Asahi Group Holdings Ltd.  | 21227 | &nbsp;&nbsp;&nbsp; 254688 |
| Brown-Forman Corp. - Class B | 2222 | &nbsp;&nbsp;&nbsp; 60172 |
| Carlsberg AS - Class B | 1383 | &nbsp;&nbsp;&nbsp; 160783 |
| Coca-Cola Co.  | 48872 | &nbsp;&nbsp;&nbsp; 3241191 |
| Coca-Cola Europacific Partners PLC (b) | 3388 | &nbsp;&nbsp;&nbsp; 306309 |
| Coca-Cola HBC AG | 3208 | &nbsp;&nbsp;&nbsp; 151333 |
| Constellation Brands, Inc. - Class A | 1802 | &nbsp;&nbsp;&nbsp; 242675 |
| Davide Campari-Milano NV | 9055 | &nbsp;&nbsp;&nbsp; 57050 |
| Diageo PLC | 32723 | &nbsp;&nbsp;&nbsp; 778998 |
| Heineken Holding NV | 1907 | &nbsp;&nbsp;&nbsp; 131053 |
| Heineken NV (b) | 4236 | &nbsp;&nbsp;&nbsp; 330835 |
| Keurig Dr. Pepper, Inc.  | 17140 | &nbsp;&nbsp;&nbsp; 437241 |
| Kirin Holdings Co. Ltd.  | 11383 | &nbsp;&nbsp;&nbsp; 166911 |
| Molson Coors Beverage Co. - Class B | 2137 | &nbsp;&nbsp;&nbsp; 96699 |
| Monster Beverage Corp. (a) | 8994 | &nbsp;&nbsp;&nbsp; 605386 |
| PepsiCo, Inc.  | 17275 | &nbsp;&nbsp;&nbsp; 2426101 |
| Pernod Ricard SA | 2968 | &nbsp;&nbsp;&nbsp; 291829 |
| Suntory Beverage & Food Ltd.  | 2065 | &nbsp;&nbsp;&nbsp; 64602 |
|  |  | &nbsp;&nbsp;&nbsp; 10672988 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| AbbVie, Inc.  | 22290 | &nbsp;&nbsp;&nbsp; 5161027 |
| Amgen, Inc.  | 6793 | &nbsp;&nbsp;&nbsp; 1916985 |
| Argenx SE (a) | 900 | &nbsp;&nbsp;&nbsp; 661124 |
| Biogen, Inc. (a) | 1850 | &nbsp;&nbsp;&nbsp; 259148 |
| CSL Ltd.  | 7120 | &nbsp;&nbsp;&nbsp; 935371 |
| Genmab AS (a) | 897 | &nbsp;&nbsp;&nbsp; 276500 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Biotechnology—(Continued)** | **Biotechnology—(Continued)** | **Biotechnology—(Continued)** |
| Gilead Sciences, Inc.  | 15656 | &nbsp;&nbsp;&nbsp; $1737816 |
| Grifols SA | 4388 | &nbsp;&nbsp;&nbsp; 63885 |
| Incyte Corp. (a) | 2070 | &nbsp;&nbsp;&nbsp; 175557 |
| Moderna, Inc. (a) (b) | 4369 | &nbsp;&nbsp;&nbsp; 112851 |
| Regeneron Pharmaceuticals, Inc.  | 1285 | &nbsp;&nbsp;&nbsp; 722517 |
| Swedish Orphan Biovitrum AB (a) | 2880 | &nbsp;&nbsp;&nbsp; 88077 |
| Vertex Pharmaceuticals, Inc. (a) | 3235 | &nbsp;&nbsp;&nbsp; 1266955 |
|  |  | &nbsp;&nbsp;&nbsp; 13377813 |
| **Broadline Retail — 1.8%** | **Broadline Retail — 1.8%** | **Broadline Retail — 1.8%** |
| Amazon.com, Inc. (a) | 122455 | &nbsp;&nbsp;&nbsp; 26887444 |
| eBay, Inc.  | 5766 | &nbsp;&nbsp;&nbsp; 524418 |
| Next PLC | 1717 | &nbsp;&nbsp;&nbsp; 286011 |
| Pan Pacific International Holdings Corp.  | 27930 | &nbsp;&nbsp;&nbsp; 184244 |
| Prosus NV | 19239 | &nbsp;&nbsp;&nbsp; 1364406 |
| Rakuten Group, Inc. (a) | 22261 | &nbsp;&nbsp;&nbsp; 144249 |
| Ryohin Keikaku Co. Ltd.  | 7400 | &nbsp;&nbsp;&nbsp; 147343 |
| Sea Ltd. (ADR) (a) | 5625 | &nbsp;&nbsp;&nbsp; 1005356 |
| Wesfarmers Ltd.  | 16686 | &nbsp;&nbsp;&nbsp; 1017970 |
|  |  | &nbsp;&nbsp;&nbsp; 31561441 |
| **Building Products — 0.4%** | **Building Products — 0.4%** | **Building Products — 0.4%** |
| A.O. Smith Corp.  | 1442 | &nbsp;&nbsp;&nbsp; 105857 |
| AGC, Inc.  | 2866 | &nbsp;&nbsp;&nbsp; 93535 |
| Allegion PLC | 1083 | &nbsp;&nbsp;&nbsp; 192070 |
| Assa Abloy AB - Class B | 14739 | &nbsp;&nbsp;&nbsp; 517150 |
| Belimo Holding AG | 145 | &nbsp;&nbsp;&nbsp; 152667 |
| Builders FirstSource, Inc. (a) | 1395 | &nbsp;&nbsp;&nbsp; 169144 |
| Carrier Global Corp.  | 10094 | &nbsp;&nbsp;&nbsp; 602612 |
| Cie de Saint-Gobain SA | 6605 | &nbsp;&nbsp;&nbsp; 719553 |
| Daikin Industries Ltd.  | 3929 | &nbsp;&nbsp;&nbsp; 452039 |
| Geberit AG (b) | 499 | &nbsp;&nbsp;&nbsp; 377141 |
| Johnson Controls International PLC | 8226 | &nbsp;&nbsp;&nbsp; 904449 |
| Kingspan Group PLC | 2277 | &nbsp;&nbsp;&nbsp; 191709 |
| Lennox International, Inc.  | 403 | &nbsp;&nbsp;&nbsp; 213332 |
| Masco Corp.  | 2642 | &nbsp;&nbsp;&nbsp; 185970 |
| Nibe Industrier AB - B Shares | 22292 | &nbsp;&nbsp;&nbsp; 88444 |
| Rockwool AS - B Shares | 1418 | &nbsp;&nbsp;&nbsp; 52951 |
| Trane Technologies PLC | 2808 | &nbsp;&nbsp;&nbsp; 1184864 |
|  |  | &nbsp;&nbsp;&nbsp; 6203487 |
| **Capital Markets — 2.0%** | **Capital Markets — 2.0%** | **Capital Markets — 2.0%** |
| 3i Group PLC | 14314 | &nbsp;&nbsp;&nbsp; 789224 |
| Ameriprise Financial, Inc.  | 1189 | &nbsp;&nbsp;&nbsp; 584096 |
| Amundi SA | 906 | &nbsp;&nbsp;&nbsp; 72155 |
| ASX Ltd.  | 2858 | &nbsp;&nbsp;&nbsp; 110677 |
| Bank of New York Mellon Corp.  | 8899 | &nbsp;&nbsp;&nbsp; 969635 |
| Blackrock, Inc.  | 1817 | &nbsp;&nbsp;&nbsp; 2118386 |
| Blackstone, Inc.  | 9300 | &nbsp;&nbsp;&nbsp; 1588905 |
| Cboe Global Markets, Inc.  | 1320 | &nbsp;&nbsp;&nbsp; 323730 |
| Charles Schwab Corp.  | 21530 | &nbsp;&nbsp;&nbsp; 2055469 |
| CME Group, Inc.  | 4547 | &nbsp;&nbsp;&nbsp; 1228554 |
| Coinbase Global, Inc. - Class A (a) | 2854 | &nbsp;&nbsp;&nbsp; 963196 |
| CVC Capital Partners PLC | 3127 | &nbsp;&nbsp;&nbsp; 54467 |
| Daiwa Securities Group, Inc.  | 19658 | &nbsp;&nbsp;&nbsp; 159517 |
| Deutsche Bank AG | 27216 | &nbsp;&nbsp;&nbsp; 957226 |

---

**BHFTI-4**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Capital Markets—(Continued)** | **Capital Markets—(Continued)** | **Capital Markets—(Continued)** |
| Deutsche Boerse AG | 2769 | &nbsp;&nbsp;&nbsp; $742069 |
| EQT AB | 5449 | &nbsp;&nbsp;&nbsp; 190361 |
| Euronext NV | 1150 | &nbsp;&nbsp;&nbsp; 171879 |
| FactSet Research Systems, Inc.  | 477 | &nbsp;&nbsp;&nbsp; 136656 |
| Franklin Resources, Inc.  | 3865 | &nbsp;&nbsp;&nbsp; 89397 |
| Futu Holdings Ltd. (ADR) | 892 | &nbsp;&nbsp;&nbsp; 155128 |
| Goldman Sachs Group, Inc.  | 3820 | &nbsp;&nbsp;&nbsp; 3042057 |
| Hong Kong Exchanges & Clearing Ltd.  | 17727 | &nbsp;&nbsp;&nbsp; 1007559 |
| Interactive Brokers Group, Inc. - Class A | 5618 | &nbsp;&nbsp;&nbsp; 386575 |
| Intercontinental Exchange, Inc.  | 7223 | &nbsp;&nbsp;&nbsp; 1216931 |
| Invesco Ltd.  | 5627 | &nbsp;&nbsp;&nbsp; 129083 |
| Japan Exchange Group, Inc.  | 14629 | &nbsp;&nbsp;&nbsp; 165292 |
| Julius Baer Group Ltd.  | 3030 | &nbsp;&nbsp;&nbsp; 210745 |
| KKR & Co., Inc.  | 8656 | &nbsp;&nbsp;&nbsp; 1124847 |
| London Stock Exchange Group PLC | 6987 | &nbsp;&nbsp;&nbsp; 802332 |
| Macquarie Group Ltd.  | 5324 | &nbsp;&nbsp;&nbsp; 774336 |
| Moody's Corp.  | 1947 | &nbsp;&nbsp;&nbsp; 927707 |
| Morgan Stanley | 15308 | &nbsp;&nbsp;&nbsp; 2433360 |
| MSCI, Inc.  | 976 | &nbsp;&nbsp;&nbsp; 553792 |
| Nasdaq, Inc.  | 5720 | &nbsp;&nbsp;&nbsp; 505934 |
| Nomura Holdings, Inc.  | 44187 | &nbsp;&nbsp;&nbsp; 323567 |
| Northern Trust Corp.  | 2413 | &nbsp;&nbsp;&nbsp; 324790 |
| Partners Group Holding AG | 334 | &nbsp;&nbsp;&nbsp; 436375 |
| Raymond James Financial, Inc.  | 2239 | &nbsp;&nbsp;&nbsp; 386451 |
| Robinhood Markets, Inc. - Class A (a) | 9766 | &nbsp;&nbsp;&nbsp; 1398296 |
| S&P Global, Inc.  | 3943 | &nbsp;&nbsp;&nbsp; 1919098 |
| SBI Holdings, Inc.  | 4143 | &nbsp;&nbsp;&nbsp; 179870 |
| Schroders PLC | 10661 | &nbsp;&nbsp;&nbsp; 54005 |
| Singapore Exchange Ltd.  | 12119 | &nbsp;&nbsp;&nbsp; 155472 |
| State Street Corp.  | 3580 | &nbsp;&nbsp;&nbsp; 415316 |
| T. Rowe Price Group, Inc.  | 2772 | &nbsp;&nbsp;&nbsp; 284518 |
| UBS Group AG | 46682 | &nbsp;&nbsp;&nbsp; 1919032 |
|  |  | &nbsp;&nbsp;&nbsp; 34538067 |
| **Chemicals — 0.8%** | **Chemicals — 0.8%** | **Chemicals — 0.8%** |
| Air Liquide SA | 8507 | &nbsp;&nbsp;&nbsp; 1770404 |
| Air Products & Chemicals, Inc.  | 2808 | &nbsp;&nbsp;&nbsp; 765798 |
| Akzo Nobel NV | 2512 | &nbsp;&nbsp;&nbsp; 178932 |
| Albemarle Corp.  | 1485 | &nbsp;&nbsp;&nbsp; 120404 |
| Arkema SA | 839 | &nbsp;&nbsp;&nbsp; 53248 |
| Asahi Kasei Corp.  | 18035 | &nbsp;&nbsp;&nbsp; 141805 |
| BASF SE | 13124 | &nbsp;&nbsp;&nbsp; 654151 |
| CF Industries Holdings, Inc.  | 2044 | &nbsp;&nbsp;&nbsp; 183347 |
| Corteva, Inc.  | 8569 | &nbsp;&nbsp;&nbsp; 579522 |
| Covestro AG (a) | 2641 | &nbsp;&nbsp;&nbsp; 180791 |
| Dow, Inc.  | 8944 | &nbsp;&nbsp;&nbsp; 205086 |
| DSM-Firmenich AG (b) | 2735 | &nbsp;&nbsp;&nbsp; 233862 |
| DuPont de Nemours, Inc.  | 5283 | &nbsp;&nbsp;&nbsp; 411546 |
| Eastman Chemical Co.  | 1449 | &nbsp;&nbsp;&nbsp; 91359 |
| Ecolab, Inc.  | 3221 | &nbsp;&nbsp;&nbsp; 882103 |
| EMS-Chemie Holding AG | 103 | &nbsp;&nbsp;&nbsp; 73117 |
| Evonik Industries AG | 3770 | &nbsp;&nbsp;&nbsp; 65481 |
| Givaudan SA | 136 | &nbsp;&nbsp;&nbsp; 554383 |
| ICL Group Ltd.  | 11390 | &nbsp;&nbsp;&nbsp; 71198 |
| International Flavors & Fragrances, Inc.  | 3234 | &nbsp;&nbsp;&nbsp; 199020 |
| Linde PLC | 5917 | &nbsp;&nbsp;&nbsp; 2810575 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Chemicals—(Continued)** | **Chemicals—(Continued)** | **Chemicals—(Continued)** |
| LyondellBasell Industries NV - Class A | 3247 | &nbsp;&nbsp;&nbsp; $159233 |
| Mitsubishi Chemical Group Corp.  | 18865 | &nbsp;&nbsp;&nbsp; 108762 |
| Mosaic Co.  | 4005 | &nbsp;&nbsp;&nbsp; 138893 |
| Nippon Paint Holdings Co. Ltd.  | 13904 | &nbsp;&nbsp;&nbsp; 95055 |
| Nippon Sanso Holdings Corp.  | 2549 | &nbsp;&nbsp;&nbsp; 90324 |
| Nitto Denko Corp.  | 10391 | &nbsp;&nbsp;&nbsp; 246303 |
| Novonesis (Novozymes) - B Shares | 5212 | &nbsp;&nbsp;&nbsp; 319473 |
| PPG Industries, Inc.  | 2848 | &nbsp;&nbsp;&nbsp; 299353 |
| Sherwin-Williams Co.  | 2926 | &nbsp;&nbsp;&nbsp; 1013157 |
| Shin-Etsu Chemical Co. Ltd.  | 24768 | &nbsp;&nbsp;&nbsp; 810475 |
| Sika AG | 2242 | &nbsp;&nbsp;&nbsp; 502449 |
| Syensqo SA | 1070 | &nbsp;&nbsp;&nbsp; 86859 |
| Symrise AG | 1953 | &nbsp;&nbsp;&nbsp; 170194 |
| Toray Industries, Inc.  | 20404 | &nbsp;&nbsp;&nbsp; 130183 |
| Yara International ASA | 2435 | &nbsp;&nbsp;&nbsp; 88882 |
|  |  | &nbsp;&nbsp;&nbsp; 14485727 |
| **Commercial Services & Supplies — 0.3%** | **Commercial Services & Supplies — 0.3%** | **Commercial Services & Supplies — 0.3%** |
| Brambles Ltd.  | 20105 | &nbsp;&nbsp;&nbsp; 331520 |
| Cintas Corp.  | 4322 | &nbsp;&nbsp;&nbsp; 887134 |
| Copart, Inc. (a) | 11224 | &nbsp;&nbsp;&nbsp; 504743 |
| Dai Nippon Printing Co. Ltd.  | 5787 | &nbsp;&nbsp;&nbsp; 98281 |
| Rentokil Initial PLC | 37160 | &nbsp;&nbsp;&nbsp; 187778 |
| Republic Services, Inc.  | 2561 | &nbsp;&nbsp;&nbsp; 587698 |
| Rollins, Inc.  | 3547 | &nbsp;&nbsp;&nbsp; 208351 |
| Secom Co. Ltd.  | 6136 | &nbsp;&nbsp;&nbsp; 224965 |
| Securitas AB - B Shares | 7234 | &nbsp;&nbsp;&nbsp; 108970 |
| TOPPAN Holdings, Inc.  | 3479 | &nbsp;&nbsp;&nbsp; 89436 |
| Veralto Corp.  | 3131 | &nbsp;&nbsp;&nbsp; 333796 |
| Waste Management, Inc.  | 4676 | &nbsp;&nbsp;&nbsp; 1032601 |
|  |  | &nbsp;&nbsp;&nbsp; 4595273 |
| **Communications Equipment — 0.4%** | **Communications Equipment — 0.4%** | **Communications Equipment — 0.4%** |
| Arista Networks, Inc. (a) | 13004 | &nbsp;&nbsp;&nbsp; 1894813 |
| Cisco Systems, Inc.  | 49966 | &nbsp;&nbsp;&nbsp; 3418674 |
| F5, Inc. (a) | 725 | &nbsp;&nbsp;&nbsp; 234313 |
| Motorola Solutions, Inc.  | 2102 | &nbsp;&nbsp;&nbsp; 961223 |
| Nokia OYJ | 76229 | &nbsp;&nbsp;&nbsp; 365261 |
| Telefonaktiebolaget LM Ericsson - B Shares | 41161 | &nbsp;&nbsp;&nbsp; 341430 |
|  |  | &nbsp;&nbsp;&nbsp; 7215714 |
| **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** |
| ACS Actividades de Construccion y Servicios SA | 2638 | &nbsp;&nbsp;&nbsp; 210998 |
| Bouygues SA | 2816 | &nbsp;&nbsp;&nbsp; 127194 |
| Eiffage SA | 1009 | &nbsp;&nbsp;&nbsp; 129773 |
| EMCOR Group, Inc.  | 565 | &nbsp;&nbsp;&nbsp; 366990 |
| Ferrovial SE | 7554 | &nbsp;&nbsp;&nbsp; 434800 |
| Kajima Corp.  | 6205 | &nbsp;&nbsp;&nbsp; 180841 |
| Obayashi Corp.  | 9580 | &nbsp;&nbsp;&nbsp; 157194 |
| Quanta Services, Inc.  | 1880 | &nbsp;&nbsp;&nbsp; 779110 |
| Skanska AB - B Shares | 5006 | &nbsp;&nbsp;&nbsp; 130443 |
| Taisei Corp.  | 2251 | &nbsp;&nbsp;&nbsp; 154601 |
| Vinci SA | 7272 | &nbsp;&nbsp;&nbsp; 1012544 |
|  |  | &nbsp;&nbsp;&nbsp; 3684488 |

---

**BHFTI-5**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Construction Materials — 0.2%** | **Construction Materials — 0.2%** | **Construction Materials — 0.2%** |
| Amrize Ltd. (a) | 7503 | &nbsp;&nbsp;&nbsp; $363599 |
| Heidelberg Materials AG | 1968 | &nbsp;&nbsp;&nbsp; 443055 |
| Holcim AG | 7502 | &nbsp;&nbsp;&nbsp; 638474 |
| James Hardie Industries PLC (a) | 8512 | &nbsp;&nbsp;&nbsp; 158385 |
| Martin Marietta Materials, Inc.  | 761 | &nbsp;&nbsp;&nbsp; 479643 |
| Vulcan Materials Co.  | 1667 | &nbsp;&nbsp;&nbsp; 512802 |
|  |  | &nbsp;&nbsp;&nbsp; 2595958 |
| **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** |
| American Express Co.  | 6849 | &nbsp;&nbsp;&nbsp; 2274964 |
| Capital One Financial Corp.  | 8069 | &nbsp;&nbsp;&nbsp; 1715308 |
| Synchrony Financial | 4695 | &nbsp;&nbsp;&nbsp; 333580 |
|  |  | &nbsp;&nbsp;&nbsp; 4323852 |
| **Consumer Staples Distribution & Retail — 0.9%** | **Consumer Staples Distribution & Retail — 0.9%** | **Consumer Staples Distribution & Retail — 0.9%** |
| Aeon Co. Ltd.  | 32832 | &nbsp;&nbsp;&nbsp; 398657 |
| Carrefour SA | 8665 | &nbsp;&nbsp;&nbsp; 131201 |
| Coles Group Ltd.  | 19727 | &nbsp;&nbsp;&nbsp; 304623 |
| Costco Wholesale Corp.  | 5596 | &nbsp;&nbsp;&nbsp; 5179826 |
| Dollar General Corp.  | 2777 | &nbsp;&nbsp;&nbsp; 287003 |
| Dollar Tree, Inc. (a) | 2449 | &nbsp;&nbsp;&nbsp; 231112 |
| J Sainsbury PLC | 25365 | &nbsp;&nbsp;&nbsp; 114164 |
| Jeronimo Martins SGPS SA | 4165 | &nbsp;&nbsp;&nbsp; 101463 |
| Kesko OYJ - B Shares | 4018 | &nbsp;&nbsp;&nbsp; 85531 |
| Kobe Bussan Co. Ltd.  | 2227 | &nbsp;&nbsp;&nbsp; 61254 |
| Koninklijke Ahold Delhaize NV | 13350 | &nbsp;&nbsp;&nbsp; 540089 |
| Kroger Co.  | 7675 | &nbsp;&nbsp;&nbsp; 517372 |
| Marks & Spencer Group PLC | 30250 | &nbsp;&nbsp;&nbsp; 148516 |
| MatsukiyoCocokara & Co.  | 4850 | &nbsp;&nbsp;&nbsp; 98475 |
| Seven & i Holdings Co. Ltd.  | 30597 | &nbsp;&nbsp;&nbsp; 411508 |
| Sysco Corp.  | 6025 | &nbsp;&nbsp;&nbsp; 496099 |
| Target Corp.  | 5733 | &nbsp;&nbsp;&nbsp; 514250 |
| Tesco PLC | 96540 | &nbsp;&nbsp;&nbsp; 578685 |
| Walmart, Inc.  | 55382 | &nbsp;&nbsp;&nbsp; 5707669 |
| Woolworths Group Ltd.  | 17965 | &nbsp;&nbsp;&nbsp; 317344 |
|  |  | &nbsp;&nbsp;&nbsp; 16224841 |
| **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
| Amcor PLC | 29088 | &nbsp;&nbsp;&nbsp; 237940 |
| Avery Dennison Corp.  | 984 | &nbsp;&nbsp;&nbsp; 159575 |
| Ball Corp.  | 3434 | &nbsp;&nbsp;&nbsp; 173142 |
| International Paper Co.  | 6662 | &nbsp;&nbsp;&nbsp; 309117 |
| Packaging Corp. of America | 1128 | &nbsp;&nbsp;&nbsp; 245825 |
| SIG Group AG | 4498 | &nbsp;&nbsp;&nbsp; 46631 |
| Smurfit WestRock PLC | 6588 | &nbsp;&nbsp;&nbsp; 280451 |
|  |  | &nbsp;&nbsp;&nbsp; 1452681 |
| **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** |
| D'ieteren Group | 316 | &nbsp;&nbsp;&nbsp; 59371 |
| Genuine Parts Co.  | 1755 | &nbsp;&nbsp;&nbsp; 243243 |
| LKQ Corp.  | 3246 | &nbsp;&nbsp;&nbsp; 99133 |
| Pool Corp.  | 414 | &nbsp;&nbsp;&nbsp; 128369 |
|  |  | &nbsp;&nbsp;&nbsp; 530116 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| Pearson PLC | 8627 | &nbsp;&nbsp;&nbsp; $122611 |
| **Diversified REITs — 0.3%** | **Diversified REITs — 0.3%** | **Diversified REITs — 0.3%** |
| Activia Properties, Inc.  | 77 | &nbsp;&nbsp;&nbsp; 70119 |
| AEW U.K. REIT PLC | 4550 | &nbsp;&nbsp;&nbsp; 6670 |
| Alexander & Baldwin, Inc.  | 2689 | &nbsp;&nbsp;&nbsp; 48913 |
| American Assets Trust, Inc.  | 1915 | &nbsp;&nbsp;&nbsp; 38913 |
| Argosy Property Ltd.  | 28014 | &nbsp;&nbsp;&nbsp; 20414 |
| British Land Co. PLC | 36159 | &nbsp;&nbsp;&nbsp; 169933 |
| Broadstone Net Lease, Inc.  | 6986 | &nbsp;&nbsp;&nbsp; 124840 |
| CapitaLand Integrated Commercial Trust | 297876 | &nbsp;&nbsp;&nbsp; 528846 |
| Charter Hall Group | 17452 | &nbsp;&nbsp;&nbsp; 263566 |
| Charter Hall Long Wale REIT | 25248 | &nbsp;&nbsp;&nbsp; 73580 |
| Covivio SA | 2824 | &nbsp;&nbsp;&nbsp; 190466 |
| Custodian Property Income REIT PLC | 14783 | &nbsp;&nbsp;&nbsp; 16146 |
| Daiwa House REIT Investment Corp.  | 153 | &nbsp;&nbsp;&nbsp; 130352 |
| Essential Properties Realty Trust, Inc.  | 7317 | &nbsp;&nbsp;&nbsp; 217754 |
| Global Net Lease, Inc.  | 7373 | &nbsp;&nbsp;&nbsp; 59942 |
| GPT Group | 71395 | &nbsp;&nbsp;&nbsp; 253934 |
| Growthpoint Properties Australia Ltd.  | 9704 | &nbsp;&nbsp;&nbsp; 16525 |
| H&R Real Estate Investment Trust (b) | 9640 | &nbsp;&nbsp;&nbsp; 77926 |
| Hankyu Hanshin REIT, Inc.  | 23 | &nbsp;&nbsp;&nbsp; 26545 |
| Heiwa Real Estate REIT, Inc.  | 37 | &nbsp;&nbsp;&nbsp; 38006 |
| Hulic Reit, Inc.  | 46 | &nbsp;&nbsp;&nbsp; 52728 |
| ICADE | 1700 | &nbsp;&nbsp;&nbsp; 42903 |
| KDX Realty Investment Corp.  | 138 | &nbsp;&nbsp;&nbsp; 157164 |
| Land Securities Group PLC | 38013 | &nbsp;&nbsp;&nbsp; 298428 |
| Mapletree Pan Asia Commercial Trust | 83844 | &nbsp;&nbsp;&nbsp; 92927 |
| Merlin Properties Socimi SA | 14011 | &nbsp;&nbsp;&nbsp; 212434 |
| Mirai Corp.  | 66 | &nbsp;&nbsp;&nbsp; 21666 |
| Mirvac Group | 146421 | &nbsp;&nbsp;&nbsp; 220075 |
| Mori Trust Reit, Inc.  | 87 | &nbsp;&nbsp;&nbsp; 44583 |
| NIPPON REIT Investment Corp.  | 60 | &nbsp;&nbsp;&nbsp; 39282 |
| Nomura Real Estate Master Fund, Inc.  | 153 | &nbsp;&nbsp;&nbsp; 165958 |
| NTT UD REIT Investment Corp.  | 48 | &nbsp;&nbsp;&nbsp; 44155 |
| OUE Real Estate Investment Trust | 82880 | &nbsp;&nbsp;&nbsp; 21846 |
| Picton Property Income Ltd.  | 19375 | &nbsp;&nbsp;&nbsp; 20466 |
| Schroder Real Estate Investment Trust Ltd.  | 18217 | &nbsp;&nbsp;&nbsp; 12331 |
| Sekisui House Reit, Inc.  | 144 | &nbsp;&nbsp;&nbsp; 77507 |
| SK REITs Co. Ltd.  | 6300 | &nbsp;&nbsp;&nbsp; 22494 |
| Star Asia Investment Corp.  | 90 | &nbsp;&nbsp;&nbsp; 36709 |
| Stockland | 122264 | &nbsp;&nbsp;&nbsp; 496673 |
| Stoneweg Europe Stapled Trust | 13450 | &nbsp;&nbsp;&nbsp; 24002 |
| Stride Property Group | 17856 | &nbsp;&nbsp;&nbsp; 14301 |
| Sunlight Real Estate Investment Trust | 36630 | &nbsp;&nbsp;&nbsp; 10497 |
| Suntec Real Estate Investment Trust | 78008 | &nbsp;&nbsp;&nbsp; 77465 |
| Takara Leben Real Estate Investment Corp.  | 32 | &nbsp;&nbsp;&nbsp; 20361 |
| Tokyu REIT, Inc.  | 32 | &nbsp;&nbsp;&nbsp; 43301 |
| United Urban Investment Corp.  | 113 | &nbsp;&nbsp;&nbsp; 137109 |
| WP Carey, Inc.  | 8064 | &nbsp;&nbsp;&nbsp; 544884 |
|  |  | &nbsp;&nbsp;&nbsp; 5325639 |
| **Diversified Telecommunication Services — 0.6%** | **Diversified Telecommunication Services — 0.6%** | **Diversified Telecommunication Services — 0.6%** |
| AT&T, Inc.  | 90222 | &nbsp;&nbsp;&nbsp; 2547869 |
| BT Group PLC | 87946 | &nbsp;&nbsp;&nbsp; 226385 |
| Cellnex Telecom SA (a) | 7273 | &nbsp;&nbsp;&nbsp; 252174 |

---

**BHFTI-6**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Diversified Telecommunication Services—(Continued)** | **Diversified Telecommunication Services—(Continued)** | **Diversified Telecommunication Services—(Continued)** |
| Deutsche Telekom AG | 51329 | &nbsp;&nbsp;&nbsp; $1748807 |
| Elisa OYJ | 2092 | &nbsp;&nbsp;&nbsp; 109769 |
| HKT Trust & HKT Ltd.  | 55578 | &nbsp;&nbsp;&nbsp; 82275 |
| Infrastrutture Wireless Italiane SpA | 4112 | &nbsp;&nbsp;&nbsp; 48323 |
| Koninklijke KPN NV | 57196 | &nbsp;&nbsp;&nbsp; 274626 |
| NTT, Inc.  | 439441 | &nbsp;&nbsp;&nbsp; 459517 |
| Orange SA | 27384 | &nbsp;&nbsp;&nbsp; 444246 |
| Singapore Telecommunications Ltd.  | 109261 | &nbsp;&nbsp;&nbsp; 349546 |
| Swisscom AG | 381 | &nbsp;&nbsp;&nbsp; 276593 |
| Telecom Italia SpA (a) | 156620 | &nbsp;&nbsp;&nbsp; 81975 |
| Telefonica SA (b) | 54206 | &nbsp;&nbsp;&nbsp; 280164 |
| Telenor ASA | 9058 | &nbsp;&nbsp;&nbsp; 150312 |
| Telia Co. AB | 34705 | &nbsp;&nbsp;&nbsp; 132506 |
| Telstra Group Ltd.  | 57517 | &nbsp;&nbsp;&nbsp; 183571 |
| Verizon Communications, Inc.  | 53200 | &nbsp;&nbsp;&nbsp; 2338140 |
|  |  | &nbsp;&nbsp;&nbsp; 9986798 |
| **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** |
| Acciona SA | 363 | &nbsp;&nbsp;&nbsp; 73209 |
| Alliant Energy Corp.  | 3242 | &nbsp;&nbsp;&nbsp; 218543 |
| American Electric Power Co., Inc.  | 6748 | &nbsp;&nbsp;&nbsp; 759150 |
| BKW AG | 311 | &nbsp;&nbsp;&nbsp; 66390 |
| Chubu Electric Power Co., Inc.  | 10008 | &nbsp;&nbsp;&nbsp; 139374 |
| CK Infrastructure Holdings Ltd.  | 9405 | &nbsp;&nbsp;&nbsp; 61803 |
| CLP Holdings Ltd.  | 24215 | &nbsp;&nbsp;&nbsp; 200703 |
| Constellation Energy Corp.  | 3942 | &nbsp;&nbsp;&nbsp; 1297194 |
| Contact Energy Ltd.  | 12637 | &nbsp;&nbsp;&nbsp; 66562 |
| Duke Energy Corp.  | 9812 | &nbsp;&nbsp;&nbsp; 1214235 |
| Edison International | 4856 | &nbsp;&nbsp;&nbsp; 268440 |
| EDP SA | 46163 | &nbsp;&nbsp;&nbsp; 219268 |
| Elia Group SA | 642 | &nbsp;&nbsp;&nbsp; 74082 |
| Endesa SA | 4672 | &nbsp;&nbsp;&nbsp; 149289 |
| Enel SpA | 119599 | &nbsp;&nbsp;&nbsp; 1134329 |
| Entergy Corp.  | 5633 | &nbsp;&nbsp;&nbsp; 524939 |
| Evergy, Inc.  | 2904 | &nbsp;&nbsp;&nbsp; 220762 |
| Eversource Energy | 4627 | &nbsp;&nbsp;&nbsp; 329165 |
| Exelon Corp.  | 12744 | &nbsp;&nbsp;&nbsp; 573607 |
| FirstEnergy Corp.  | 6557 | &nbsp;&nbsp;&nbsp; 300442 |
| Fortum OYJ | 6599 | &nbsp;&nbsp;&nbsp; 124735 |
| Iberdrola SA | 93337 | &nbsp;&nbsp;&nbsp; 1768574 |
| Kansai Electric Power Co., Inc.  | 13953 | &nbsp;&nbsp;&nbsp; 199856 |
| NextEra Energy, Inc.  | 25984 | &nbsp;&nbsp;&nbsp; 1961532 |
| NRG Energy, Inc.  | 2441 | &nbsp;&nbsp;&nbsp; 395320 |
| Origin Energy Ltd.  | 25343 | &nbsp;&nbsp;&nbsp; 209754 |
| PG&E Corp.  | 27732 | &nbsp;&nbsp;&nbsp; 418199 |
| Pinnacle West Capital Corp.  | 1507 | &nbsp;&nbsp;&nbsp; 135118 |
| Power Assets Holdings Ltd.  | 20583 | &nbsp;&nbsp;&nbsp; 130442 |
| PPL Corp. (b) | 9331 | &nbsp;&nbsp;&nbsp; 346740 |
| Redeia Corp. SA | 5969 | &nbsp;&nbsp;&nbsp; 115340 |
| Southern Co.  | 13880 | &nbsp;&nbsp;&nbsp; 1315408 |
| SSE PLC | 16273 | &nbsp;&nbsp;&nbsp; 381356 |
| Terna - Rete Elettrica Nazionale | 20698 | &nbsp;&nbsp;&nbsp; 210259 |
| Verbund AG | 1002 | &nbsp;&nbsp;&nbsp; 72840 |
| Xcel Energy, Inc.  | 7462 | &nbsp;&nbsp;&nbsp; 601810 |
|  |  | &nbsp;&nbsp;&nbsp; 16278769 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Electrical Equipment — 0.8%** | **Electrical Equipment — 0.8%** | **Electrical Equipment — 0.8%** |
| ABB Ltd.  | 23048 | &nbsp;&nbsp;&nbsp; $1661155 |
| AMETEK, Inc.  | 2914 | &nbsp;&nbsp;&nbsp; 547832 |
| Eaton Corp. PLC | 4912 | &nbsp;&nbsp;&nbsp; 1838316 |
| Emerson Electric Co.  | 7101 | &nbsp;&nbsp;&nbsp; 931509 |
| Fuji Electric Co. Ltd.  | 1999 | &nbsp;&nbsp;&nbsp; 136638 |
| Fujikura Ltd.  | 3700 | &nbsp;&nbsp;&nbsp; 359724 |
| GE Vernova, Inc.  | 3435 | &nbsp;&nbsp;&nbsp; 2112182 |
| Generac Holdings, Inc. (a) | 740 | &nbsp;&nbsp;&nbsp; 123876 |
| Hubbell, Inc.  | 671 | &nbsp;&nbsp;&nbsp; 288738 |
| Legrand SA | 3856 | &nbsp;&nbsp;&nbsp; 643225 |
| Mitsubishi Electric Corp.  | 27987 | &nbsp;&nbsp;&nbsp; 728598 |
| NIDEC Corp.  | 12301 | &nbsp;&nbsp;&nbsp; 218474 |
| Prysmian SpA | 4140 | &nbsp;&nbsp;&nbsp; 413520 |
| Rockwell Automation, Inc.  | 1419 | &nbsp;&nbsp;&nbsp; 495983 |
| Schneider Electric SE | 8063 | &nbsp;&nbsp;&nbsp; 2276229 |
| Siemens Energy AG (a) | 9990 | &nbsp;&nbsp;&nbsp; 1168110 |
| Vestas Wind Systems AS | 14852 | &nbsp;&nbsp;&nbsp; 288244 |
|  |  | &nbsp;&nbsp;&nbsp; 14232353 |
| **Electronic Equipment, Instruments & Components — 0.5%** | **Electronic Equipment, Instruments & Components — 0.5%** | **Electronic Equipment, Instruments & Components — 0.5%** |
| Amphenol Corp. - Class A | 15405 | &nbsp;&nbsp;&nbsp; 1906369 |
| CDW Corp.  | 1654 | &nbsp;&nbsp;&nbsp; 263449 |
| Corning, Inc.  | 9836 | &nbsp;&nbsp;&nbsp; 806847 |
| Halma PLC | 5583 | &nbsp;&nbsp;&nbsp; 259138 |
| Hexagon AB - B Shares | 30535 | &nbsp;&nbsp;&nbsp; 366283 |
| Jabil, Inc.  | 1354 | &nbsp;&nbsp;&nbsp; 294048 |
| Keyence Corp.  | 2850 | &nbsp;&nbsp;&nbsp; 1061145 |
| Keysight Technologies, Inc. (a) | 2172 | &nbsp;&nbsp;&nbsp; 379926 |
| Kyocera Corp.  | 18850 | &nbsp;&nbsp;&nbsp; 256107 |
| Murata Manufacturing Co. Ltd.  | 24520 | &nbsp;&nbsp;&nbsp; 465326 |
| Shimadzu Corp.  | 3448 | &nbsp;&nbsp;&nbsp; 86950 |
| TDK Corp.  | 28580 | &nbsp;&nbsp;&nbsp; 413441 |
| TE Connectivity PLC | 3728 | &nbsp;&nbsp;&nbsp; 818408 |
| Teledyne Technologies, Inc. (a) | 592 | &nbsp;&nbsp;&nbsp; 346936 |
| Trimble, Inc. (a) | 3003 | &nbsp;&nbsp;&nbsp; 245195 |
| Yokogawa Electric Corp.  | 3327 | &nbsp;&nbsp;&nbsp; 95492 |
| Zebra Technologies Corp. - Class A (a) | 642 | &nbsp;&nbsp;&nbsp; 190777 |
|  |  | &nbsp;&nbsp;&nbsp; 8255837 |
| **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** |
| Baker Hughes Co.  | 12440 | &nbsp;&nbsp;&nbsp; 606077 |
| Halliburton Co.  | 10758 | &nbsp;&nbsp;&nbsp; 264647 |
| Schlumberger NV | 18825 | &nbsp;&nbsp;&nbsp; 647015 |
| Tenaris SA | 5519 | &nbsp;&nbsp;&nbsp; 98783 |
|  |  | &nbsp;&nbsp;&nbsp; 1616522 |
| **Entertainment — 0.9%** | **Entertainment — 0.9%** | **Entertainment — 0.9%** |
| Bollore SE | 10342 | &nbsp;&nbsp;&nbsp; 58535 |
| Capcom Co. Ltd.  | 5097 | &nbsp;&nbsp;&nbsp; 138744 |
| CTS Eventim AG & Co. KGaA | 918 | &nbsp;&nbsp;&nbsp; 89991 |
| Electronic Arts, Inc.  | 2841 | &nbsp;&nbsp;&nbsp; 573030 |
| Konami Group Corp.  | 1520 | &nbsp;&nbsp;&nbsp; 219327 |
| Live Nation Entertainment, Inc. (a) (b) | 1990 | &nbsp;&nbsp;&nbsp; 325166 |
| Netflix, Inc. (a) | 5362 | &nbsp;&nbsp;&nbsp; 6428609 |
| Nexon Co. Ltd.  | 4856 | &nbsp;&nbsp;&nbsp; 106751 |
| Nintendo Co. Ltd.  | 16187 | &nbsp;&nbsp;&nbsp; 1386681 |

---

**BHFTI-7**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Entertainment—(Continued)** | **Entertainment—(Continued)** | **Entertainment—(Continued)** |
| Spotify Technology SA (a) | 2248 | &nbsp;&nbsp;&nbsp; $1569104 |
| Take-Two Interactive Software, Inc. (a) | 2188 | &nbsp;&nbsp;&nbsp; 565292 |
| TKO Group Holdings, Inc.  | 871 | &nbsp;&nbsp;&nbsp; 175907 |
| Toho Co. Ltd.  | 1581 | &nbsp;&nbsp;&nbsp; 101738 |
| Universal Music Group NV | 16184 | &nbsp;&nbsp;&nbsp; 469726 |
| Walt Disney Co.  | 22686 | &nbsp;&nbsp;&nbsp; 2597547 |
| Warner Bros Discovery, Inc. (a) (b) | 31240 | &nbsp;&nbsp;&nbsp; 610117 |
|  |  | &nbsp;&nbsp;&nbsp; 15416265 |
| **Financial Services — 1.8%** | **Financial Services — 1.8%** | **Financial Services — 1.8%** |
| Adyen NV (a) | 371 | &nbsp;&nbsp;&nbsp; 595399 |
| Apollo Global Management, Inc. (b) | 5806 | &nbsp;&nbsp;&nbsp; 773766 |
| Banca Mediolanum SpA | 3289 | &nbsp;&nbsp;&nbsp; 65990 |
| Berkshire Hathaway, Inc. - Class B (a) | 23137 | &nbsp;&nbsp;&nbsp; 11631895 |
| Block, Inc. (a) | 6934 | &nbsp;&nbsp;&nbsp; 501120 |
| Corpay, Inc. (a) | 891 | &nbsp;&nbsp;&nbsp; 256661 |
| Edenred SE | 3529 | &nbsp;&nbsp;&nbsp; 84088 |
| EXOR NV | 1375 | &nbsp;&nbsp;&nbsp; 135004 |
| Fidelity National Information Services, Inc.  | 6591 | &nbsp;&nbsp;&nbsp; 434611 |
| Fiserv, Inc. (a) | 6859 | &nbsp;&nbsp;&nbsp; 884331 |
| Global Payments, Inc.  | 3061 | &nbsp;&nbsp;&nbsp; 254308 |
| Groupe Bruxelles Lambert NV | 1176 | &nbsp;&nbsp;&nbsp; 105506 |
| Industrivarden AB - A Shares | 1743 | &nbsp;&nbsp;&nbsp; 69455 |
| Industrivarden AB - C Shares | 2293 | &nbsp;&nbsp;&nbsp; 91344 |
| Infratil Ltd.  | 13689 | &nbsp;&nbsp;&nbsp; 97863 |
| Investor AB - B Shares | 25451 | &nbsp;&nbsp;&nbsp; 799467 |
| Jack Henry & Associates, Inc.  | 919 | &nbsp;&nbsp;&nbsp; 136867 |
| L E Lundbergforetagen AB - B Shares | 1118 | &nbsp;&nbsp;&nbsp; 58260 |
| M&G PLC | 33606 | &nbsp;&nbsp;&nbsp; 114912 |
| Mastercard, Inc. - Class A | 10416 | &nbsp;&nbsp;&nbsp; 5924725 |
| Mitsubishi HC Capital, Inc.  | 12905 | &nbsp;&nbsp;&nbsp; 106582 |
| Nexi SpA | 8143 | &nbsp;&nbsp;&nbsp; 46088 |
| ORIX Corp.  | 17117 | &nbsp;&nbsp;&nbsp; 446984 |
| PayPal Holdings, Inc. (a) | 12055 | &nbsp;&nbsp;&nbsp; 808408 |
| Sofina SA | 227 | &nbsp;&nbsp;&nbsp; 66933 |
| Visa, Inc. - Class A | 21433 | &nbsp;&nbsp;&nbsp; 7316798 |
| Washington H Soul Pattinson & Co. Ltd.  | 3517 | &nbsp;&nbsp;&nbsp; 89729 |
| Wise PLC - Class A (a) | 9801 | &nbsp;&nbsp;&nbsp; 136861 |
|  |  | &nbsp;&nbsp;&nbsp; 32033955 |
| **Food Products — 0.6%** | **Food Products — 0.6%** | **Food Products — 0.6%** |
| Ajinomoto Co., Inc.  | 13322 | &nbsp;&nbsp;&nbsp; 382180 |
| Archer-Daniels-Midland Co.  | 6062 | &nbsp;&nbsp;&nbsp; 362144 |
| Associated British Foods PLC | 4753 | &nbsp;&nbsp;&nbsp; 131096 |
| Barry Callebaut AG | 52 | &nbsp;&nbsp;&nbsp; 71435 |
| Bunge Global SA | 1767 | &nbsp;&nbsp;&nbsp; 143569 |
| Campbell's Co. (b) | 2483 | &nbsp;&nbsp;&nbsp; 78413 |
| Chocoladefabriken Lindt & Spruengli AG | 2 | &nbsp;&nbsp;&nbsp; 301320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG (Participation <br> Certificate)<br>| 14 | &nbsp;&nbsp;&nbsp; 214596 |
| Conagra Brands, Inc.  | 6045 | &nbsp;&nbsp;&nbsp; 110684 |
| Danone SA | 9519 | &nbsp;&nbsp;&nbsp; 829337 |
| General Mills, Inc.  | 6747 | &nbsp;&nbsp;&nbsp; 340184 |
| Hershey Co.  | 1869 | &nbsp;&nbsp;&nbsp; 349596 |
| Hormel Foods Corp.  | 3677 | &nbsp;&nbsp;&nbsp; 90969 |
| J.M. Smucker Co.  | 1346 | &nbsp;&nbsp;&nbsp; 146175 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Food Products—(Continued)** | **Food Products—(Continued)** | **Food Products—(Continued)** |
| JDE Peet's NV | 2513 | &nbsp;&nbsp;&nbsp; $92038 |
| Kellanova | 3392 | &nbsp;&nbsp;&nbsp; 278212 |
| Kerry Group PLC - Class A | 2408 | &nbsp;&nbsp;&nbsp; 216848 |
| Kikkoman Corp. (b) | 9993 | &nbsp;&nbsp;&nbsp; 84712 |
| Kraft Heinz Co.  | 10753 | &nbsp;&nbsp;&nbsp; 280008 |
| Lamb Weston Holdings, Inc.  | 1758 | &nbsp;&nbsp;&nbsp; 102105 |
| Lotus Bakeries NV | 6 | &nbsp;&nbsp;&nbsp; 56577 |
| McCormick & Co., Inc.  | 3193 | &nbsp;&nbsp;&nbsp; 213643 |
| MEIJI Holdings Co. Ltd.  | 3518 | &nbsp;&nbsp;&nbsp; 72943 |
| Mondelez International, Inc. - Class A | 16327 | &nbsp;&nbsp;&nbsp; 1019948 |
| Mowi ASA | 6846 | &nbsp;&nbsp;&nbsp; 145145 |
| Nestle SA | 37889 | &nbsp;&nbsp;&nbsp; 3480415 |
| Nissin Foods Holdings Co. Ltd. (b) | 2835 | &nbsp;&nbsp;&nbsp; 53409 |
| Orkla ASA | 10312 | &nbsp;&nbsp;&nbsp; 107903 |
| Salmar ASA | 984 | &nbsp;&nbsp;&nbsp; 52679 |
| Tyson Foods, Inc. - Class A | 3606 | &nbsp;&nbsp;&nbsp; 195806 |
| WH Group Ltd.  | 125898 | &nbsp;&nbsp;&nbsp; 136841 |
| Wilmar International Ltd.  | 28157 | &nbsp;&nbsp;&nbsp; 62302 |
| Yakult Honsha Co. Ltd. (b) | 3627 | &nbsp;&nbsp;&nbsp; 59132 |
|  |  | &nbsp;&nbsp;&nbsp; 10262364 |
| **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** |
| APA Group | 19188 | &nbsp;&nbsp;&nbsp; 112781 |
| Atmos Energy Corp. (b) | 2025 | &nbsp;&nbsp;&nbsp; 345769 |
| Hong Kong & China Gas Co. Ltd.  | 164278 | &nbsp;&nbsp;&nbsp; 142800 |
| Osaka Gas Co. Ltd.  | 5315 | &nbsp;&nbsp;&nbsp; 154062 |
| Snam SpA | 29665 | &nbsp;&nbsp;&nbsp; 178250 |
| Tokyo Gas Co. Ltd.  | 4595 | &nbsp;&nbsp;&nbsp; 163508 |
|  |  | &nbsp;&nbsp;&nbsp; 1097170 |
| **Ground Transportation — 0.4%** | **Ground Transportation — 0.4%** | **Ground Transportation — 0.4%** |
| Central Japan Railway Co.  | 11320 | &nbsp;&nbsp;&nbsp; 324972 |
| CSX Corp.  | 23523 | &nbsp;&nbsp;&nbsp; 835302 |
| East Japan Railway Co.  | 14229 | &nbsp;&nbsp;&nbsp; 348676 |
| Grab Holdings Ltd. - Class A (a) | 34906 | &nbsp;&nbsp;&nbsp; 210134 |
| Hankyu Hanshin Holdings, Inc.  | 3535 | &nbsp;&nbsp;&nbsp; 104279 |
| JB Hunt Transport Services, Inc.  | 965 | &nbsp;&nbsp;&nbsp; 129474 |
| MTR Corp. Ltd.  | 22500 | &nbsp;&nbsp;&nbsp; 76316 |
| Norfolk Southern Corp.  | 2831 | &nbsp;&nbsp;&nbsp; 850461 |
| Old Dominion Freight Line, Inc.  | 2334 | &nbsp;&nbsp;&nbsp; 328580 |
| Tokyo Metro Co. Ltd.  | 4300 | &nbsp;&nbsp;&nbsp; 49313 |
| Tokyu Corp. (b) | 7367 | &nbsp;&nbsp;&nbsp; 89901 |
| Uber Technologies, Inc. (a) | 26313 | &nbsp;&nbsp;&nbsp; 2577885 |
| Union Pacific Corp.  | 7483 | &nbsp;&nbsp;&nbsp; 1768757 |
| West Japan Railway Co.  | 6209 | &nbsp;&nbsp;&nbsp; 136113 |
|  |  | &nbsp;&nbsp;&nbsp; 7830163 |
| **Health Care Equipment & Supplies — 1.1%** | **Health Care Equipment & Supplies — 1.1%** | **Health Care Equipment & Supplies — 1.1%** |
| Abbott Laboratories | 21961 | &nbsp;&nbsp;&nbsp; 2941456 |
| Alcon AG | 7348 | &nbsp;&nbsp;&nbsp; 550404 |
| Align Technology, Inc. (a) | 851 | &nbsp;&nbsp;&nbsp; 106562 |
| Baxter International, Inc.  | 6481 | &nbsp;&nbsp;&nbsp; 147572 |
| Becton Dickinson & Co.  | 3617 | &nbsp;&nbsp;&nbsp; 676994 |
| BioMerieux | 609 | &nbsp;&nbsp;&nbsp; 81680 |
| Boston Scientific Corp. (a) | 18696 | &nbsp;&nbsp;&nbsp; 1825291 |
| Cochlear Ltd.  | 962 | &nbsp;&nbsp;&nbsp; 177960 |

---

**BHFTI-8**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care Equipment & Supplies—(Continued)** | **Health Care Equipment & Supplies—(Continued)** | **Health Care Equipment & Supplies—(Continued)** |
| Coloplast AS - Class B | 1855 | &nbsp;&nbsp;&nbsp; $158777 |
| Cooper Cos., Inc. (a) | 2517 | &nbsp;&nbsp;&nbsp; 172566 |
| Demant AS (a) | 1258 | &nbsp;&nbsp;&nbsp; 43610 |
| Dexcom, Inc. (a) | 4948 | &nbsp;&nbsp;&nbsp; 332951 |
| Edwards Lifesciences Corp. (a) | 7408 | &nbsp;&nbsp;&nbsp; 576120 |
| EssilorLuxottica SA | 4427 | &nbsp;&nbsp;&nbsp; 1443981 |
| Fisher & Paykel Healthcare Corp. Ltd.  | 8625 | &nbsp;&nbsp;&nbsp; 185148 |
| GE HealthCare Technologies, Inc.  | 5761 | &nbsp;&nbsp;&nbsp; 432651 |
| Hologic, Inc. (a) | 2806 | &nbsp;&nbsp;&nbsp; 189377 |
| Hoya Corp.  | 5061 | &nbsp;&nbsp;&nbsp; 699129 |
| IDEXX Laboratories, Inc. (a) | 1009 | &nbsp;&nbsp;&nbsp; 644640 |
| Insulet Corp. (a) | 888 | &nbsp;&nbsp;&nbsp; 274152 |
| Intuitive Surgical, Inc. (a) | 4523 | &nbsp;&nbsp;&nbsp; 2022821 |
| Koninklijke Philips NV | 11330 | &nbsp;&nbsp;&nbsp; 310165 |
| Medtronic PLC | 16167 | &nbsp;&nbsp;&nbsp; 1539745 |
| Olympus Corp.  | 16749 | &nbsp;&nbsp;&nbsp; 212205 |
| ResMed, Inc.  | 1847 | &nbsp;&nbsp;&nbsp; 505579 |
| Siemens Healthineers AG | 4977 | &nbsp;&nbsp;&nbsp; 269253 |
| Smith & Nephew PLC | 12242 | &nbsp;&nbsp;&nbsp; 220576 |
| Solventum Corp. (a) | 1860 | &nbsp;&nbsp;&nbsp; 135780 |
| Sonova Holding AG | 746 | &nbsp;&nbsp;&nbsp; 204406 |
| STERIS PLC | 1243 | &nbsp;&nbsp;&nbsp; 307568 |
| Straumann Holding AG | 1642 | &nbsp;&nbsp;&nbsp; 175977 |
| Stryker Corp.  | 4341 | &nbsp;&nbsp;&nbsp; 1604738 |
| Sysmex Corp.  | 7417 | &nbsp;&nbsp;&nbsp; 91975 |
| Terumo Corp.  | 19566 | &nbsp;&nbsp;&nbsp; 322913 |
| Zimmer Biomet Holdings, Inc.  | 2500 | &nbsp;&nbsp;&nbsp; 246250 |
|  |  | &nbsp;&nbsp;&nbsp; 19830972 |
| **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** |
| Cardinal Health, Inc.  | 3013 | &nbsp;&nbsp;&nbsp; 472921 |
| Cencora, Inc.  | 2446 | &nbsp;&nbsp;&nbsp; 764448 |
| Centene Corp. (a) | 5887 | &nbsp;&nbsp;&nbsp; 210048 |
| Chartwell Retirement Residences | 10722 | &nbsp;&nbsp;&nbsp; 155472 |
| Cigna Group | 3368 | &nbsp;&nbsp;&nbsp; 970826 |
| CVS Health Corp.  | 16003 | &nbsp;&nbsp;&nbsp; 1206466 |
| DaVita, Inc. (a) (b) | 451 | &nbsp;&nbsp;&nbsp; 59924 |
| Elevance Health, Inc.  | 2841 | &nbsp;&nbsp;&nbsp; 917984 |
| Fresenius Medical Care AG | 3237 | &nbsp;&nbsp;&nbsp; 169851 |
| Fresenius SE & Co. KGaA | 6213 | &nbsp;&nbsp;&nbsp; 346008 |
| HCA Healthcare, Inc.  | 2067 | &nbsp;&nbsp;&nbsp; 880956 |
| Henry Schein, Inc. (a) | 1301 | &nbsp;&nbsp;&nbsp; 86347 |
| Humana, Inc.  | 1518 | &nbsp;&nbsp;&nbsp; 394938 |
| Labcorp Holdings, Inc.  | 1049 | &nbsp;&nbsp;&nbsp; 301126 |
| McKesson Corp.  | 1569 | &nbsp;&nbsp;&nbsp; 1212115 |
| Molina Healthcare, Inc. (a) | 684 | &nbsp;&nbsp;&nbsp; 130890 |
| NMC Health PLC (a) (c) (d) | 8180 | &nbsp;&nbsp;&nbsp; 0 |
| Quest Diagnostics, Inc.  | 1411 | &nbsp;&nbsp;&nbsp; 268908 |
| Sigma Healthcare Ltd.  | 67923 | &nbsp;&nbsp;&nbsp; 133690 |
| Sonic Healthcare Ltd.  | 6907 | &nbsp;&nbsp;&nbsp; 98012 |
| UnitedHealth Group, Inc.  | 11428 | &nbsp;&nbsp;&nbsp; 3946089 |
| Universal Health Services, Inc. - Class B | 711 | &nbsp;&nbsp;&nbsp; 145357 |
|  |  | &nbsp;&nbsp;&nbsp; 12872376 |
| **Health Care REITs — 0.6%** | **Health Care REITs — 0.6%** | **Health Care REITs — 0.6%** |
| Aedifica SA | 1771 | &nbsp;&nbsp;&nbsp; 131463 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care REITs—(Continued)** | **Health Care REITs—(Continued)** | **Health Care REITs—(Continued)** |
| Alexandria Real Estate Equities, Inc.  | 8345 | &nbsp;&nbsp;&nbsp; $695472 |
| American Healthcare REIT, Inc. (b) | 5863 | &nbsp;&nbsp;&nbsp; 246305 |
| CareTrust REIT, Inc.  | 7848 | &nbsp;&nbsp;&nbsp; 272169 |
| Cofinimmo SA | 1420 | &nbsp;&nbsp;&nbsp; 123329 |
| Health Care & Medical Investment Corp.  | 12 | &nbsp;&nbsp;&nbsp; 9427 |
| Healthcare Realty Trust, Inc.  | 12208 | &nbsp;&nbsp;&nbsp; 220110 |
| Healthpeak Properties, Inc.  | 34606 | &nbsp;&nbsp;&nbsp; 662705 |
| Life Science REIT PLC | 10664 | &nbsp;&nbsp;&nbsp; 5252 |
| LTC Properties, Inc. (b) | 1667 | &nbsp;&nbsp;&nbsp; 61446 |
| Medical Properties Trust, Inc. (b) | 18561 | &nbsp;&nbsp;&nbsp; 94104 |
| National Health Investors, Inc.  | 1702 | &nbsp;&nbsp;&nbsp; 135309 |
| Northwest Healthcare Properties Real Estate Investment Trust | 8191 | &nbsp;&nbsp;&nbsp; 29958 |
| Omega Healthcare Investors, Inc.  | 10684 | &nbsp;&nbsp;&nbsp; 451079 |
| Parkway Life Real Estate Investment Trust | 16150 | &nbsp;&nbsp;&nbsp; 51644 |
| Primary Health Properties PLC | 93617 | &nbsp;&nbsp;&nbsp; 115204 |
| Sabra Health Care REIT, Inc.  | 8756 | &nbsp;&nbsp;&nbsp; 163212 |
| Sila Realty Trust, Inc. (b) | 2049 | &nbsp;&nbsp;&nbsp; 51430 |
| Target Healthcare REIT PLC | 23111 | &nbsp;&nbsp;&nbsp; 30034 |
| Ventas, Inc.  | 22588 | &nbsp;&nbsp;&nbsp; 1580934 |
| Welltower, Inc.  | 33336 | &nbsp;&nbsp;&nbsp; 5938475 |
|  |  | &nbsp;&nbsp;&nbsp; 11069061 |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| M3, Inc.  | 6540 | &nbsp;&nbsp;&nbsp; 107525 |
| Pro Medicus Ltd.  | 845 | &nbsp;&nbsp;&nbsp; 172946 |
|  |  | &nbsp;&nbsp;&nbsp; 280471 |
| **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** |
| Apple Hospitality REIT, Inc.  | 8247 | &nbsp;&nbsp;&nbsp; 99046 |
| CapitaLand Ascott Trust | 97458 | &nbsp;&nbsp;&nbsp; 70302 |
| CDL Hospitality Trusts | 29644 | &nbsp;&nbsp;&nbsp; 18501 |
| DiamondRock Hospitality Co.  | 7593 | &nbsp;&nbsp;&nbsp; 60440 |
| Far East Hospitality Trust | 35060 | &nbsp;&nbsp;&nbsp; 16456 |
| Hoshino Resorts REIT, Inc.  | 20 | &nbsp;&nbsp;&nbsp; 36409 |
| Host Hotels & Resorts, Inc.  | 33580 | &nbsp;&nbsp;&nbsp; 571532 |
| Invincible Investment Corp.  | 270 | &nbsp;&nbsp;&nbsp; 123202 |
| Japan Hotel REIT Investment Corp.  | 180 | &nbsp;&nbsp;&nbsp; 108529 |
| Park Hotels & Resorts, Inc.  | 7306 | &nbsp;&nbsp;&nbsp; 80950 |
| Pebblebrook Hotel Trust | 4329 | &nbsp;&nbsp;&nbsp; 49307 |
| RLJ Lodging Trust (b) | 5466 | &nbsp;&nbsp;&nbsp; 39355 |
| Ryman Hospitality Properties, Inc.  | 2275 | &nbsp;&nbsp;&nbsp; 203817 |
| Sunstone Hotel Investors, Inc.  | 7013 | &nbsp;&nbsp;&nbsp; 65712 |
| Xenia Hotels & Resorts, Inc.  | 3643 | &nbsp;&nbsp;&nbsp; 49982 |
|  |  | &nbsp;&nbsp;&nbsp; 1593540 |
| **Hotels, Restaurants & Leisure — 1.0%** | **Hotels, Restaurants & Leisure — 1.0%** | **Hotels, Restaurants & Leisure — 1.0%** |
| Accor SA | 2883 | &nbsp;&nbsp;&nbsp; 136582 |
| Airbnb, Inc. - Class A (a) | 5414 | &nbsp;&nbsp;&nbsp; 657368 |
| Amadeus IT Group SA | 6625 | &nbsp;&nbsp;&nbsp; 524348 |
| Aristocrat Leisure Ltd.  | 8256 | &nbsp;&nbsp;&nbsp; 383439 |
| Booking Holdings, Inc.  | 409 | &nbsp;&nbsp;&nbsp; 2208301 |
| Carnival Corp. (a) | 13699 | &nbsp;&nbsp;&nbsp; 396038 |
| Chipotle Mexican Grill, Inc. (a) | 16919 | &nbsp;&nbsp;&nbsp; 663056 |
| Compass Group PLC | 24961 | &nbsp;&nbsp;&nbsp; 850410 |
| Darden Restaurants, Inc.  | 1477 | &nbsp;&nbsp;&nbsp; 281162 |
| Delivery Hero SE (a) | 2826 | &nbsp;&nbsp;&nbsp; 81188 |

---

**BHFTI-9**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** |
| Domino's Pizza, Inc.  | 394 | &nbsp;&nbsp;&nbsp; $170094 |
| DoorDash, Inc. - Class A (a) | 4671 | &nbsp;&nbsp;&nbsp; 1270465 |
| Entain PLC | 8937 | &nbsp;&nbsp;&nbsp; 104766 |
| Evolution AB | 2105 | &nbsp;&nbsp;&nbsp; 172767 |
| Expedia Group, Inc.  | 1491 | &nbsp;&nbsp;&nbsp; 318701 |
| FDJ UNITED | 1635 | &nbsp;&nbsp;&nbsp; 54786 |
| Galaxy Entertainment Group Ltd.  | 31915 | &nbsp;&nbsp;&nbsp; 176085 |
| Genting Singapore Ltd.  | 86487 | &nbsp;&nbsp;&nbsp; 49253 |
| Hilton Worldwide Holdings, Inc.  | 2968 | &nbsp;&nbsp;&nbsp; 770018 |
| InterContinental Hotels Group PLC | 2161 | &nbsp;&nbsp;&nbsp; 261912 |
| Las Vegas Sands Corp.  | 3898 | &nbsp;&nbsp;&nbsp; 209673 |
| Lottery Corp. Ltd.  | 32266 | &nbsp;&nbsp;&nbsp; 125816 |
| Marriott International, Inc. - Class A | 2843 | &nbsp;&nbsp;&nbsp; 740431 |
| McDonald's Corp.  | 9004 | &nbsp;&nbsp;&nbsp; 2736226 |
| MGM Resorts International (a) | 2576 | &nbsp;&nbsp;&nbsp; 89284 |
| Norwegian Cruise Line Holdings Ltd. (a) | 5702 | &nbsp;&nbsp;&nbsp; 140440 |
| Oriental Land Co. Ltd. (b) | 15924 | &nbsp;&nbsp;&nbsp; 382754 |
| PPHE Hotel Group Ltd.  | 866 | &nbsp;&nbsp;&nbsp; 15930 |
| Royal Caribbean Cruises Ltd.  | 3187 | &nbsp;&nbsp;&nbsp; 1031250 |
| Sands China Ltd.  | 35525 | &nbsp;&nbsp;&nbsp; 99241 |
| Sodexo SA | 1301 | &nbsp;&nbsp;&nbsp; 81905 |
| Starbucks Corp. (b) | 14343 | &nbsp;&nbsp;&nbsp; 1213418 |
| Whitbread PLC | 2573 | &nbsp;&nbsp;&nbsp; 112014 |
| Wynn Resorts Ltd.  | 1065 | &nbsp;&nbsp;&nbsp; 136608 |
| Yum! Brands, Inc.  | 3502 | &nbsp;&nbsp;&nbsp; 532304 |
| Zensho Holdings Co. Ltd.  | 1463 | &nbsp;&nbsp;&nbsp; 95772 |
|  |  | &nbsp;&nbsp;&nbsp; 17273805 |
| **Household Durables — 0.3%** | **Household Durables — 0.3%** | **Household Durables — 0.3%** |
| Barratt Redrow PLC | 20120 | &nbsp;&nbsp;&nbsp; 105672 |
| DR Horton, Inc.  | 3498 | &nbsp;&nbsp;&nbsp; 592806 |
| Garmin Ltd.  | 2065 | &nbsp;&nbsp;&nbsp; 508444 |
| Lennar Corp. - Class A | 2872 | &nbsp;&nbsp;&nbsp; 361987 |
| Mohawk Industries, Inc. (a) | 659 | &nbsp;&nbsp;&nbsp; 84958 |
| NVR, Inc. (a) | 36 | &nbsp;&nbsp;&nbsp; 289248 |
| Panasonic Holdings Corp.  | 34263 | &nbsp;&nbsp;&nbsp; 372147 |
| PulteGroup, Inc.  | 2489 | &nbsp;&nbsp;&nbsp; 328872 |
| Sekisui House Ltd.  | 8735 | &nbsp;&nbsp;&nbsp; 198537 |
| Sony Group Corp.  | 90459 | &nbsp;&nbsp;&nbsp; 2595740 |
|  |  | &nbsp;&nbsp;&nbsp; 5438411 |
| **Household Products — 0.4%** | **Household Products — 0.4%** | **Household Products — 0.4%** |
| Church & Dwight Co., Inc.  | 3074 | &nbsp;&nbsp;&nbsp; 269375 |
| Clorox Co.  | 1543 | &nbsp;&nbsp;&nbsp; 190252 |
| Colgate-Palmolive Co.  | 10198 | &nbsp;&nbsp;&nbsp; 815228 |
| Essity AB - Class B | 8859 | &nbsp;&nbsp;&nbsp; 231692 |
| Henkel AG & Co. KGaA | 1529 | &nbsp;&nbsp;&nbsp; 113415 |
| Kimberly-Clark Corp.  | 4186 | &nbsp;&nbsp;&nbsp; 520487 |
| Procter & Gamble Co.  | 29555 | &nbsp;&nbsp;&nbsp; 4541126 |
| Reckitt Benckiser Group PLC | 9988 | &nbsp;&nbsp;&nbsp; 771380 |
| Unicharm Corp.  | 16412 | &nbsp;&nbsp;&nbsp; 107010 |
|  |  | &nbsp;&nbsp;&nbsp; 7559965 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| AES Corp.  | 8984 | &nbsp;&nbsp;&nbsp; 118230 |
| EDP Renovaveis SA | 4638 | &nbsp;&nbsp;&nbsp; 61260 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Independent Power and Renewable Electricity Producers—(Continued)** | **Independent Power and Renewable Electricity Producers—(Continued)** | **Independent Power and Renewable Electricity Producers—(Continued)** |
| Meridian Energy Ltd.  | 19235 | &nbsp;&nbsp;&nbsp; $62139 |
| Orsted AS (a) | 7772 | &nbsp;&nbsp;&nbsp; 139674 |
| RWE AG | 9298 | &nbsp;&nbsp;&nbsp; 412935 |
| Vistra Corp.  | 4023 | &nbsp;&nbsp;&nbsp; 788186 |
|  |  | &nbsp;&nbsp;&nbsp; 1582424 |
| **Industrial Conglomerates — 0.5%** | **Industrial Conglomerates — 0.5%** | **Industrial Conglomerates — 0.5%** |
| 3M Co.  | 6721 | &nbsp;&nbsp;&nbsp; 1042965 |
| CK Hutchison Holdings Ltd.  | 39402 | &nbsp;&nbsp;&nbsp; 260038 |
| DCC PLC (b) | 1444 | &nbsp;&nbsp;&nbsp; 93177 |
| Hikari Tsushin, Inc.  | 250 | &nbsp;&nbsp;&nbsp; 69701 |
| Hitachi Ltd.  | 67347 | &nbsp;&nbsp;&nbsp; 1768533 |
| Honeywell International, Inc.  | 8011 | &nbsp;&nbsp;&nbsp; 1686316 |
| Investment AB Latour - B Shares | 2178 | &nbsp;&nbsp;&nbsp; 51859 |
| Jardine Matheson Holdings Ltd.  | 2360 | &nbsp;&nbsp;&nbsp; 149271 |
| Keppel Ltd.  | 21590 | &nbsp;&nbsp;&nbsp; 149284 |
| Lifco AB - B Shares | 3429 | &nbsp;&nbsp;&nbsp; 116581 |
| Sekisui Chemical Co. Ltd.  | 5541 | &nbsp;&nbsp;&nbsp; 103035 |
| Siemens AG | 11176 | &nbsp;&nbsp;&nbsp; 3015488 |
| Smiths Group PLC | 4865 | &nbsp;&nbsp;&nbsp; 155195 |
| Swire Pacific Ltd. - Class A | 5365 | &nbsp;&nbsp;&nbsp; 45528 |
|  |  | &nbsp;&nbsp;&nbsp; 8706971 |
| **Industrial REITs — 0.7%** | **Industrial REITs — 0.7%** | **Industrial REITs — 0.7%** |
| AIMS APAC REIT | 22300 | &nbsp;&nbsp;&nbsp; 23510 |
| Americold Realty Trust, Inc.  | 10607 | &nbsp;&nbsp;&nbsp; 129830 |
| ARGAN SA | 611 | &nbsp;&nbsp;&nbsp; 45763 |
| CapitaLand Ascendas REIT | 196630 | &nbsp;&nbsp;&nbsp; 426298 |
| Centuria Industrial REIT | 23380 | &nbsp;&nbsp;&nbsp; 54084 |
| CRE Logistics REIT, Inc.  | 21 | &nbsp;&nbsp;&nbsp; 21603 |
| Dexus Industria REIT | 11827 | &nbsp;&nbsp;&nbsp; 22390 |
| Dream Industrial Real Estate Investment Trust (b) | 10603 | &nbsp;&nbsp;&nbsp; 94701 |
| EastGroup Properties, Inc.  | 1970 | &nbsp;&nbsp;&nbsp; 333442 |
| ESR Kendall Square REIT Co. Ltd.  | 6197 | &nbsp;&nbsp;&nbsp; 20001 |
| ESR-REIT | 20565 | &nbsp;&nbsp;&nbsp; 44667 |
| First Industrial Realty Trust, Inc.  | 4761 | &nbsp;&nbsp;&nbsp; 245049 |
| Frasers Logistics & Commercial Trust | 103050 | &nbsp;&nbsp;&nbsp; 76087 |
| GLP J-Reit | 163 | &nbsp;&nbsp;&nbsp; 150442 |
| Goodman Group | 103685 | &nbsp;&nbsp;&nbsp; 2257524 |
| Goodman Property Trust | 35888 | &nbsp;&nbsp;&nbsp; 44309 |
| Granite Real Estate Investment Trust | 2244 | &nbsp;&nbsp;&nbsp; 124688 |
| Industrial & Infrastructure Fund Investment Corp.  | 88 | &nbsp;&nbsp;&nbsp; 80812 |
| Innovative Industrial Properties, Inc.  | 1023 | &nbsp;&nbsp;&nbsp; 54812 |
| Japan Logistics Fund, Inc.  | 96 | &nbsp;&nbsp;&nbsp; 63476 |
| LaSalle Logiport REIT | 61 | &nbsp;&nbsp;&nbsp; 59189 |
| Lineage, Inc. (b) | 2628 | &nbsp;&nbsp;&nbsp; 101546 |
| LondonMetric Property PLC | 82307 | &nbsp;&nbsp;&nbsp; 201487 |
| LXP Industrial Trust | 10736 | &nbsp;&nbsp;&nbsp; 96195 |
| Mapletree Industrial Trust | 77202 | &nbsp;&nbsp;&nbsp; 127638 |
| Mapletree Logistics Trust | 126029 | &nbsp;&nbsp;&nbsp; 122275 |
| Mitsubishi Estate Logistics REIT Investment Corp.  | 49 | &nbsp;&nbsp;&nbsp; 40320 |
| Mitsui Fudosan Logistics Park, Inc.  | 111 | &nbsp;&nbsp;&nbsp; 79817 |
| Montea NV | 775 | &nbsp;&nbsp;&nbsp; 62602 |
| Nippon Prologis REIT, Inc.  | 267 | &nbsp;&nbsp;&nbsp; 155999 |
| Prologis, Inc.  | 46219 | &nbsp;&nbsp;&nbsp; 5293000 |
| Rexford Industrial Realty, Inc.  | 8817 | &nbsp;&nbsp;&nbsp; 362467 |

---

**BHFTI-10**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Industrial REITs—(Continued)** | **Industrial REITs—(Continued)** | **Industrial REITs—(Continued)** |
| Segro PLC | 69102 | &nbsp;&nbsp;&nbsp; $611458 |
| SOSiLA Logistics REIT, Inc.  | 24 | &nbsp;&nbsp;&nbsp; 19258 |
| STAG Industrial, Inc.  | 6945 | &nbsp;&nbsp;&nbsp; 245089 |
| Terreno Realty Corp.  | 3766 | &nbsp;&nbsp;&nbsp; 213720 |
| Tritax Big Box REIT PLC | 91225 | &nbsp;&nbsp;&nbsp; 177424 |
| Warehouses De Pauw CVA | 6867 | &nbsp;&nbsp;&nbsp; 172371 |
|  |  | &nbsp;&nbsp;&nbsp; 12455343 |
| **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** |
| Admiral Group PLC | 3830 | &nbsp;&nbsp;&nbsp; 173163 |
| Aegon Ltd.  | 19451 | &nbsp;&nbsp;&nbsp; 157053 |
| Aflac, Inc.  | 6074 | &nbsp;&nbsp;&nbsp; 678466 |
| Ageas SA | 2195 | &nbsp;&nbsp;&nbsp; 152394 |
| AIA Group Ltd.  | 156327 | &nbsp;&nbsp;&nbsp; 1498432 |
| Allianz SE | 5679 | &nbsp;&nbsp;&nbsp; 2387125 |
| Allstate Corp.  | 3325 | &nbsp;&nbsp;&nbsp; 713711 |
| American International Group, Inc.  | 6990 | &nbsp;&nbsp;&nbsp; 548995 |
| Aon PLC - Class A | 2721 | &nbsp;&nbsp;&nbsp; 970254 |
| Arch Capital Group Ltd.  | 4690 | &nbsp;&nbsp;&nbsp; 425524 |
| Arthur J Gallagher & Co.  | 3235 | &nbsp;&nbsp;&nbsp; 1002009 |
| ASR Nederland NV | 2132 | &nbsp;&nbsp;&nbsp; 145095 |
| Assurant, Inc.  | 637 | &nbsp;&nbsp;&nbsp; 137974 |
| Aviva PLC | 44957 | &nbsp;&nbsp;&nbsp; 416307 |
| AXA SA | 26063 | &nbsp;&nbsp;&nbsp; 1247920 |
| Baloise Holding AG | 606 | &nbsp;&nbsp;&nbsp; 149949 |
| Brown & Brown, Inc.  | 3697 | &nbsp;&nbsp;&nbsp; 346742 |
| Chubb Ltd.  | 4678 | &nbsp;&nbsp;&nbsp; 1320365 |
| Cincinnati Financial Corp.  | 1962 | &nbsp;&nbsp;&nbsp; 310192 |
| Dai-ichi Life Holdings, Inc.  | 51676 | &nbsp;&nbsp;&nbsp; 406528 |
| Erie Indemnity Co. - Class A | 321 | &nbsp;&nbsp;&nbsp; 102129 |
| Everest Group Ltd.  | 529 | &nbsp;&nbsp;&nbsp; 185272 |
| Generali | 12535 | &nbsp;&nbsp;&nbsp; 492547 |
| Gjensidige Forsikring ASA | 2942 | &nbsp;&nbsp;&nbsp; 86462 |
| Globe Life, Inc.  | 1022 | &nbsp;&nbsp;&nbsp; 146115 |
| Hannover Rueck SE | 887 | &nbsp;&nbsp;&nbsp; 267514 |
| Hartford Insurance Group, Inc.  | 3548 | &nbsp;&nbsp;&nbsp; 473268 |
| Helvetia Holding AG | 546 | &nbsp;&nbsp;&nbsp; 133868 |
| Insurance Australia Group Ltd.  | 34796 | &nbsp;&nbsp;&nbsp; 188439 |
| Japan Post Holdings Co. Ltd.  | 26196 | &nbsp;&nbsp;&nbsp; 260069 |
| Japan Post Insurance Co. Ltd.  | 2708 | &nbsp;&nbsp;&nbsp; 76669 |
| Legal & General Group PLC | 84348 | &nbsp;&nbsp;&nbsp; 271093 |
| Loews Corp.  | 2146 | &nbsp;&nbsp;&nbsp; 215437 |
| Marsh & McLennan Cos., Inc.  | 6203 | &nbsp;&nbsp;&nbsp; 1250091 |
| Medibank Pvt Ltd.  | 40512 | &nbsp;&nbsp;&nbsp; 129004 |
| MetLife, Inc. (e) | 7049 | &nbsp;&nbsp;&nbsp; 580626 |
| MS&AD Insurance Group Holdings, Inc.  | 18888 | &nbsp;&nbsp;&nbsp; 428506 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 1921 | &nbsp;&nbsp;&nbsp; 1227434 |
| NN Group NV | 3956 | &nbsp;&nbsp;&nbsp; 279306 |
| Phoenix Financial Ltd.  | 3324 | &nbsp;&nbsp;&nbsp; 124527 |
| Phoenix Group Holdings PLC | 10334 | &nbsp;&nbsp;&nbsp; 89688 |
| Poste Italiane SpA | 6725 | &nbsp;&nbsp;&nbsp; 159496 |
| Principal Financial Group, Inc.  | 2558 | &nbsp;&nbsp;&nbsp; 212084 |
| Progressive Corp.  | 7397 | &nbsp;&nbsp;&nbsp; 1826689 |
| Prudential Financial, Inc.  | 4441 | &nbsp;&nbsp;&nbsp; 460709 |
| Prudential PLC | 37968 | &nbsp;&nbsp;&nbsp; 534458 |
| QBE Insurance Group Ltd.  | 22208 | &nbsp;&nbsp;&nbsp; 302942 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Insurance—(Continued)** | **Insurance—(Continued)** | **Insurance—(Continued)** |
| Sampo OYJ - A Shares | 35607 | &nbsp;&nbsp;&nbsp; $409846 |
| Sompo Holdings, Inc.  | 13002 | &nbsp;&nbsp;&nbsp; 401563 |
| Sony Financial Group, Inc. (a) | 90459 | &nbsp;&nbsp;&nbsp; 100316 |
| Suncorp Group Ltd.  | 15930 | &nbsp;&nbsp;&nbsp; 214345 |
| Swiss Life Holding AG | 420 | &nbsp;&nbsp;&nbsp; 452707 |
| Swiss Re AG | 4393 | &nbsp;&nbsp;&nbsp; 814104 |
| T&D Holdings, Inc.  | 7221 | &nbsp;&nbsp;&nbsp; 176476 |
| Talanx AG | 950 | &nbsp;&nbsp;&nbsp; 126316 |
| Tokio Marine Holdings, Inc.  | 27065 | &nbsp;&nbsp;&nbsp; 1145001 |
| Travelers Cos., Inc.  | 2841 | &nbsp;&nbsp;&nbsp; 793264 |
| Tryg AS | 4946 | &nbsp;&nbsp;&nbsp; 125689 |
| Unipol Assicurazioni SpA | 5277 | &nbsp;&nbsp;&nbsp; 113356 |
| W.R. Berkley Corp.  | 3776 | &nbsp;&nbsp;&nbsp; 289317 |
| Willis Towers Watson PLC | 1231 | &nbsp;&nbsp;&nbsp; 425249 |
| Zurich Insurance Group AG | 2152 | &nbsp;&nbsp;&nbsp; 1536039 |
|  |  | &nbsp;&nbsp;&nbsp; 30816228 |
| **Interactive Media & Services — 3.0%** | **Interactive Media & Services — 3.0%** | **Interactive Media & Services — 3.0%** |
| Alphabet, Inc. - Class A | 73397 | &nbsp;&nbsp;&nbsp; 17842811 |
| Alphabet, Inc. - Class C | 58922 | &nbsp;&nbsp;&nbsp; 14350453 |
| Auto Trader Group PLC | 12833 | &nbsp;&nbsp;&nbsp; 136163 |
| CAR Group Ltd.  | 5558 | &nbsp;&nbsp;&nbsp; 135541 |
| LY Corp.  | 40889 | &nbsp;&nbsp;&nbsp; 131861 |
| Match Group, Inc.  | 3036 | &nbsp;&nbsp;&nbsp; 107231 |
| Meta Platforms, Inc. - Class A | 27349 | &nbsp;&nbsp;&nbsp; 20084559 |
| REA Group Ltd.  | 777 | &nbsp;&nbsp;&nbsp; 119121 |
| Scout24 SE | 1103 | &nbsp;&nbsp;&nbsp; 138101 |
|  |  | &nbsp;&nbsp;&nbsp; 53045841 |
| **IT Services — 0.5%** | **IT Services — 0.5%** | **IT Services — 0.5%** |
| Accenture PLC - Class A | 7859 | &nbsp;&nbsp;&nbsp; 1938029 |
| Akamai Technologies, Inc. (a) | 1809 | &nbsp;&nbsp;&nbsp; 137050 |
| Capgemini SE | 2394 | &nbsp;&nbsp;&nbsp; 348368 |
| Cognizant Technology Solutions Corp. - Class A | 6162 | &nbsp;&nbsp;&nbsp; 413285 |
| EPAM Systems, Inc. (a) | 703 | &nbsp;&nbsp;&nbsp; 106005 |
| Fujitsu Ltd.  | 25923 | &nbsp;&nbsp;&nbsp; 609511 |
| Gartner, Inc. (a) | 956 | &nbsp;&nbsp;&nbsp; 251304 |
| GoDaddy, Inc. - Class A (a) | 1747 | &nbsp;&nbsp;&nbsp; 239042 |
| International Business Machines Corp.  | 11754 | &nbsp;&nbsp;&nbsp; 3316509 |
| NEC Corp.  | 19055 | &nbsp;&nbsp;&nbsp; 609171 |
| NEXTDC Ltd. (a) | 23681 | &nbsp;&nbsp;&nbsp; 266289 |
| Nomura Research Institute Ltd.  | 5541 | &nbsp;&nbsp;&nbsp; 212529 |
| Obic Co. Ltd.  | 4776 | &nbsp;&nbsp;&nbsp; 166724 |
| Otsuka Corp.  | 3323 | &nbsp;&nbsp;&nbsp; 69415 |
| SCSK Corp.  | 2310 | &nbsp;&nbsp;&nbsp; 69231 |
| SUNeVision Holdings Ltd.  | 22760 | &nbsp;&nbsp;&nbsp; 20093 |
| TIS, Inc.  | 3105 | &nbsp;&nbsp;&nbsp; 102435 |
| VeriSign, Inc.  | 1061 | &nbsp;&nbsp;&nbsp; 296624 |
| Wix.com Ltd. (a) | 819 | &nbsp;&nbsp;&nbsp; 145479 |
|  |  | &nbsp;&nbsp;&nbsp; 9317093 |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| Bandai Namco Holdings, Inc.  | 8597 | &nbsp;&nbsp;&nbsp; 285765 |
| Hasbro, Inc.  | 1681 | &nbsp;&nbsp;&nbsp; 127504 |

---

**BHFTI-11**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Leisure Products—(Continued)** | **Leisure Products—(Continued)** | **Leisure Products—(Continued)** |
| Shimano, Inc.  | 1079 | &nbsp;&nbsp;&nbsp; $122598 |
|  |  | &nbsp;&nbsp;&nbsp; 535867 |
| **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** |
| Agilent Technologies, Inc.  | 3584 | &nbsp;&nbsp;&nbsp; 460007 |
| Bio-Techne Corp.  | 1978 | &nbsp;&nbsp;&nbsp; 110036 |
| Charles River Laboratories International, Inc. (a) | 621 | &nbsp;&nbsp;&nbsp; 97162 |
| Danaher Corp.  | 8041 | &nbsp;&nbsp;&nbsp; 1594209 |
| Eurofins Scientific SE | 1742 | &nbsp;&nbsp;&nbsp; 126820 |
| IQVIA Holdings, Inc. (a) | 2145 | &nbsp;&nbsp;&nbsp; 407421 |
| Lonza Group AG | 1033 | &nbsp;&nbsp;&nbsp; 693285 |
| Mettler-Toledo International, Inc. (a) | 260 | &nbsp;&nbsp;&nbsp; 319179 |
| Qiagen NV | 3186 | &nbsp;&nbsp;&nbsp; 141503 |
| Revvity, Inc.  | 1465 | &nbsp;&nbsp;&nbsp; 128407 |
| Sartorius Stedim Biotech | 429 | &nbsp;&nbsp;&nbsp; 86853 |
| Thermo Fisher Scientific, Inc.  | 4765 | &nbsp;&nbsp;&nbsp; 2311120 |
| Waters Corp. (a) | 751 | &nbsp;&nbsp;&nbsp; 225157 |
| West Pharmaceutical Services, Inc.  | 907 | &nbsp;&nbsp;&nbsp; 237933 |
|  |  | &nbsp;&nbsp;&nbsp; 6939092 |
| **Machinery — 1.1%** | **Machinery — 1.1%** | **Machinery — 1.1%** |
| Alfa Laval AB | 4256 | &nbsp;&nbsp;&nbsp; 195234 |
| Alstom SA (a) | 5097 | &nbsp;&nbsp;&nbsp; 133933 |
| Atlas Copco AB - A Shares | 39499 | &nbsp;&nbsp;&nbsp; 672595 |
| Atlas Copco AB - B Shares | 22956 | &nbsp;&nbsp;&nbsp; 346384 |
| Caterpillar, Inc.  | 5911 | &nbsp;&nbsp;&nbsp; 2820434 |
| Cummins, Inc.  | 1739 | &nbsp;&nbsp;&nbsp; 734501 |
| Daifuku Co. Ltd.  | 4764 | &nbsp;&nbsp;&nbsp; 152390 |
| Daimler Truck Holding AG | 6988 | &nbsp;&nbsp;&nbsp; 287940 |
| Deere & Co.  | 3178 | &nbsp;&nbsp;&nbsp; 1453172 |
| Dover Corp.  | 1730 | &nbsp;&nbsp;&nbsp; 288616 |
| Epiroc AB - A Shares | 9695 | &nbsp;&nbsp;&nbsp; 204740 |
| Epiroc AB - B Shares | 5736 | &nbsp;&nbsp;&nbsp; 108556 |
| FANUC Corp.  | 13768 | &nbsp;&nbsp;&nbsp; 392319 |
| Fortive Corp.  | 4269 | &nbsp;&nbsp;&nbsp; 209138 |
| GEA Group AG | 2155 | &nbsp;&nbsp;&nbsp; 159204 |
| IDEX Corp.  | 950 | &nbsp;&nbsp;&nbsp; 154622 |
| IHI Corp.  | 15400 | &nbsp;&nbsp;&nbsp; 286436 |
| Illinois Tool Works, Inc.  | 3347 | &nbsp;&nbsp;&nbsp; 872764 |
| Indutrade AB | 4019 | &nbsp;&nbsp;&nbsp; 92536 |
| Ingersoll Rand, Inc.  | 4564 | &nbsp;&nbsp;&nbsp; 377078 |
| Kawasaki Heavy Industries Ltd.  | 2200 | &nbsp;&nbsp;&nbsp; 144796 |
| Knorr-Bremse AG | 1067 | &nbsp;&nbsp;&nbsp; 100200 |
| Komatsu Ltd.  | 13978 | &nbsp;&nbsp;&nbsp; 486384 |
| Kone OYJ - Class B | 4999 | &nbsp;&nbsp;&nbsp; 341069 |
| Kubota Corp.  | 14439 | &nbsp;&nbsp;&nbsp; 181425 |
| Makita Corp.  | 3264 | &nbsp;&nbsp;&nbsp; 105834 |
| Metso OYJ | 9755 | &nbsp;&nbsp;&nbsp; 134416 |
| Minebea Mitsumi, Inc.  | 5332 | &nbsp;&nbsp;&nbsp; 100259 |
| Mitsubishi Heavy Industries Ltd.  | 47109 | &nbsp;&nbsp;&nbsp; 1230959 |
| Nordson Corp.  | 677 | &nbsp;&nbsp;&nbsp; 153645 |
| Otis Worldwide Corp.  | 4952 | &nbsp;&nbsp;&nbsp; 452761 |
| PACCAR, Inc.  | 6626 | &nbsp;&nbsp;&nbsp; 651468 |
| Parker-Hannifin Corp.  | 1612 | &nbsp;&nbsp;&nbsp; 1222138 |
| Pentair PLC | 2068 | &nbsp;&nbsp;&nbsp; 229052 |
| Rational AG | 75 | &nbsp;&nbsp;&nbsp; 57160 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Machinery—(Continued)** | **Machinery—(Continued)** | **Machinery—(Continued)** |
| Sandvik AB | 15680 | &nbsp;&nbsp;&nbsp; $439103 |
| Schindler Holding AG | 345 | &nbsp;&nbsp;&nbsp; 124733 |
| Schindler Holding AG (Participation Certificate) | 599 | &nbsp;&nbsp;&nbsp; 227724 |
| SKF AB - B Shares | 5018 | &nbsp;&nbsp;&nbsp; 125217 |
| SMC Corp.  | 809 | &nbsp;&nbsp;&nbsp; 247561 |
| Snap-on, Inc.  | 658 | &nbsp;&nbsp;&nbsp; 228017 |
| Spirax Group PLC | 1083 | &nbsp;&nbsp;&nbsp; 99908 |
| Stanley Black & Decker, Inc.  | 1953 | &nbsp;&nbsp;&nbsp; 145167 |
| Techtronic Industries Co. Ltd.  | 21429 | &nbsp;&nbsp;&nbsp; 274919 |
| Toyota Industries Corp.  | 2372 | &nbsp;&nbsp;&nbsp; 266943 |
| Trelleborg AB - B Shares | 2984 | &nbsp;&nbsp;&nbsp; 111857 |
| VAT Group AG | 397 | &nbsp;&nbsp;&nbsp; 157979 |
| Volvo AB - B Shares | 23361 | &nbsp;&nbsp;&nbsp; 673699 |
| Wartsila OYJ Abp | 7399 | &nbsp;&nbsp;&nbsp; 221577 |
| Westinghouse Air Brake Technologies Corp.  | 2157 | &nbsp;&nbsp;&nbsp; 432414 |
| Xylem, Inc.  | 3071 | &nbsp;&nbsp;&nbsp; 452973 |
| Yangzijiang Shipbuilding Holdings Ltd.  | 38000 | &nbsp;&nbsp;&nbsp; 99572 |
|  |  | &nbsp;&nbsp;&nbsp; 19863521 |
| **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** |
| AP Moller - Maersk AS - Class A | 43 | &nbsp;&nbsp;&nbsp; 84181 |
| AP Moller - Maersk AS - Class B | 58 | &nbsp;&nbsp;&nbsp; 113742 |
| Kawasaki Kisen Kaisha Ltd. (b) | 5157 | &nbsp;&nbsp;&nbsp; 73350 |
| Kuehne & Nagel International AG | 711 | &nbsp;&nbsp;&nbsp; 133033 |
| Mitsui OSK Lines Ltd. (b) | 5067 | &nbsp;&nbsp;&nbsp; 154073 |
| Nippon Yusen KK | 6417 | &nbsp;&nbsp;&nbsp; 218937 |
| SITC International Holdings Co. Ltd.  | 19964 | &nbsp;&nbsp;&nbsp; 76908 |
|  |  | &nbsp;&nbsp;&nbsp; 854224 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| Charter Communications, Inc. - Class A (a) (b) | 1172 | &nbsp;&nbsp;&nbsp; 322423 |
| Comcast Corp. - Class A | 46468 | &nbsp;&nbsp;&nbsp; 1460025 |
| Fox Corp. - Class A | 2649 | &nbsp;&nbsp;&nbsp; 167046 |
| Fox Corp. - Class B | 1665 | &nbsp;&nbsp;&nbsp; 95388 |
| Informa PLC | 19198 | &nbsp;&nbsp;&nbsp; 237250 |
| Interpublic Group of Cos., Inc.  | 4621 | &nbsp;&nbsp;&nbsp; 128972 |
| News Corp. - Class A | 4750 | &nbsp;&nbsp;&nbsp; 145872 |
| News Corp. - Class B | 1403 | &nbsp;&nbsp;&nbsp; 48474 |
| Omnicom Group, Inc.  | 2444 | &nbsp;&nbsp;&nbsp; 199259 |
| Paramount Skydance Corp. - Class B (b) | 3896 | &nbsp;&nbsp;&nbsp; 73712 |
| Publicis Groupe SA | 3366 | &nbsp;&nbsp;&nbsp; 323092 |
| Trade Desk, Inc. - Class A (a) | 5623 | &nbsp;&nbsp;&nbsp; 275583 |
| WPP PLC | 15868 | &nbsp;&nbsp;&nbsp; 79293 |
|  |  | &nbsp;&nbsp;&nbsp; 3556389 |
| **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** |
| Anglo American PLC | 16459 | &nbsp;&nbsp;&nbsp; 619680 |
| Antofagasta PLC | 5801 | &nbsp;&nbsp;&nbsp; 216090 |
| ArcelorMittal SA | 6898 | &nbsp;&nbsp;&nbsp; 249277 |
| BHP Group Ltd.  | 74645 | &nbsp;&nbsp;&nbsp; 2085685 |
| BlueScope Steel Ltd.  | 6452 | &nbsp;&nbsp;&nbsp; 97089 |
| Boliden AB (a) | 4181 | &nbsp;&nbsp;&nbsp; 170640 |
| Evolution Mining Ltd.  | 29455 | &nbsp;&nbsp;&nbsp; 212199 |
| Fortescue Ltd.  | 24906 | &nbsp;&nbsp;&nbsp; 308955 |
| Freeport-McMoRan, Inc.  | 18116 | &nbsp;&nbsp;&nbsp; 710509 |
| Fresnillo PLC | 3252 | &nbsp;&nbsp;&nbsp; 103241 |

---

**BHFTI-12**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Metals & Mining—(Continued)** | **Metals & Mining—(Continued)** | **Metals & Mining—(Continued)** |
| Glencore PLC (a) | 149069 | &nbsp;&nbsp;&nbsp; $688885 |
| JFE Holdings, Inc.  | 8435 | &nbsp;&nbsp;&nbsp; 103764 |
| Newmont Corp.  | 13860 | &nbsp;&nbsp;&nbsp; 1168537 |
| Nippon Steel Corp.  | 71200 | &nbsp;&nbsp;&nbsp; 292930 |
| Norsk Hydro ASA | 20373 | &nbsp;&nbsp;&nbsp; 138061 |
| Northern Star Resources Ltd.  | 19959 | &nbsp;&nbsp;&nbsp; 314776 |
| Nucor Corp.  | 2896 | &nbsp;&nbsp;&nbsp; 392205 |
| Rio Tinto Ltd.  | 5459 | &nbsp;&nbsp;&nbsp; 441357 |
| Rio Tinto PLC | 16596 | &nbsp;&nbsp;&nbsp; 1093679 |
| South32 Ltd.  | 66248 | &nbsp;&nbsp;&nbsp; 120278 |
| Steel Dynamics, Inc.  | 1746 | &nbsp;&nbsp;&nbsp; 243445 |
| Sumitomo Metal Mining Co. Ltd.  | 3594 | &nbsp;&nbsp;&nbsp; 115938 |
|  |  | &nbsp;&nbsp;&nbsp; 9887220 |
| **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** |
| Ameren Corp.  | 3412 | &nbsp;&nbsp;&nbsp; 356145 |
| CenterPoint Energy, Inc.  | 8238 | &nbsp;&nbsp;&nbsp; 319634 |
| Centrica PLC | 71433 | &nbsp;&nbsp;&nbsp; 160035 |
| CMS Energy Corp.  | 3777 | &nbsp;&nbsp;&nbsp; 276703 |
| Consolidated Edison, Inc.  | 4551 | &nbsp;&nbsp;&nbsp; 457467 |
| Dominion Energy, Inc.  | 10768 | &nbsp;&nbsp;&nbsp; 658679 |
| DTE Energy Co.  | 2619 | &nbsp;&nbsp;&nbsp; 370405 |
| E.ON SE | 33014 | &nbsp;&nbsp;&nbsp; 620736 |
| Engie SA | 26858 | &nbsp;&nbsp;&nbsp; 576120 |
| National Grid PLC | 72078 | &nbsp;&nbsp;&nbsp; 1039119 |
| NiSource, Inc.  | 5941 | &nbsp;&nbsp;&nbsp; 257245 |
| Public Service Enterprise Group, Inc.  | 6297 | &nbsp;&nbsp;&nbsp; 525548 |
| Sembcorp Industries Ltd.  | 13635 | &nbsp;&nbsp;&nbsp; 63783 |
| Sempra (b) | 8233 | &nbsp;&nbsp;&nbsp; 740805 |
| Veolia Environnement SA | 9261 | &nbsp;&nbsp;&nbsp; 316398 |
| WEC Energy Group, Inc.  | 4061 | &nbsp;&nbsp;&nbsp; 465350 |
|  |  | &nbsp;&nbsp;&nbsp; 7204172 |
| **Office REITs — 0.2%** | **Office REITs — 0.2%** | **Office REITs — 0.2%** |
| Abacus Group | 15541 | &nbsp;&nbsp;&nbsp; 12715 |
| Allied Properties Real Estate Investment Trust (b) | 4701 | &nbsp;&nbsp;&nbsp; 70057 |
| Brandywine Realty Trust | 6340 | &nbsp;&nbsp;&nbsp; 26438 |
| BXP, Inc.  | 7751 | &nbsp;&nbsp;&nbsp; 576209 |
| Centuria Office REIT | 18413 | &nbsp;&nbsp;&nbsp; 14616 |
| Champion REIT | 64376 | &nbsp;&nbsp;&nbsp; 17721 |
| COPT Defense Properties | 4197 | &nbsp;&nbsp;&nbsp; 121965 |
| Cousins Properties, Inc.  | 6208 | &nbsp;&nbsp;&nbsp; 179660 |
| Cromwell Property Group | 60536 | &nbsp;&nbsp;&nbsp; 18250 |
| Daiwa Office Investment Corp.  | 19 | &nbsp;&nbsp;&nbsp; 46894 |
| Derwent London PLC | 3955 | &nbsp;&nbsp;&nbsp; 93177 |
| Dexus | 39217 | &nbsp;&nbsp;&nbsp; 186582 |
| Douglas Emmett, Inc.  | 5966 | &nbsp;&nbsp;&nbsp; 92891 |
| Easterly Government Properties, Inc.  | 1522 | &nbsp;&nbsp;&nbsp; 34899 |
| Empire State Realty Trust, Inc. - Class A | 5082 | &nbsp;&nbsp;&nbsp; 38928 |
| Gecina SA | 2579 | &nbsp;&nbsp;&nbsp; 258511 |
| Global One Real Estate Investment Corp.  | 35 | &nbsp;&nbsp;&nbsp; 33843 |
| Great Portland Estates PLC | 14416 | &nbsp;&nbsp;&nbsp; 61891 |
| Helical PLC | 3913 | &nbsp;&nbsp;&nbsp; 10803 |
| Highwoods Properties, Inc.  | 3944 | &nbsp;&nbsp;&nbsp; 125498 |
| Ichigo Office REIT Investment Corp.  | 34 | &nbsp;&nbsp;&nbsp; 21714 |
| Inmobiliaria Colonial Socimi SA | 13216 | &nbsp;&nbsp;&nbsp; 86538 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Office REITs—(Continued)** | **Office REITs—(Continued)** | **Office REITs—(Continued)** |
| Japan Excellent, Inc.  | 41 | &nbsp;&nbsp;&nbsp; $40255 |
| Japan Prime Realty Investment Corp.  | 133 | &nbsp;&nbsp;&nbsp; 92725 |
| Japan Real Estate Investment Corp.  | 249 | &nbsp;&nbsp;&nbsp; 209661 |
| JBG SMITH Properties | 2298 | &nbsp;&nbsp;&nbsp; 51131 |
| JR Global Reit | 6948 | &nbsp;&nbsp;&nbsp; 14829 |
| Keppel REIT | 88072 | &nbsp;&nbsp;&nbsp; 69001 |
| Kilroy Realty Corp. (b) | 4363 | &nbsp;&nbsp;&nbsp; 184337 |
| Mori Hills REIT Investment Corp.  | 52 | &nbsp;&nbsp;&nbsp; 50276 |
| Nippon Building Fund, Inc.  | 409 | &nbsp;&nbsp;&nbsp; 385913 |
| NSI NV | 546 | &nbsp;&nbsp;&nbsp; 13697 |
| One REIT, Inc.  | 24 | &nbsp;&nbsp;&nbsp; 14412 |
| Orix JREIT, Inc.  | 195 | &nbsp;&nbsp;&nbsp; 132114 |
| Paramount Group, Inc. (a) | 6878 | &nbsp;&nbsp;&nbsp; 44982 |
| Piedmont Realty Trust, Inc. - Class A | 4577 | &nbsp;&nbsp;&nbsp; 41193 |
| Precinct Properties Group | 52074 | &nbsp;&nbsp;&nbsp; 39824 |
| Prosperity REIT | 47920 | &nbsp;&nbsp;&nbsp; 8620 |
| Regional REIT Ltd.  | 4754 | &nbsp;&nbsp;&nbsp; 7568 |
| Sankei Real Estate, Inc.  | 15 | &nbsp;&nbsp;&nbsp; 10239 |
| Shinhan Alpha REIT Co. Ltd.  | 4280 | &nbsp;&nbsp;&nbsp; 17031 |
| SL Green Realty Corp.  | 2646 | &nbsp;&nbsp;&nbsp; 158257 |
| Vornado Realty Trust | 6561 | &nbsp;&nbsp;&nbsp; 265917 |
| Workspace Group PLC | 4852 | &nbsp;&nbsp;&nbsp; 25884 |
|  |  | &nbsp;&nbsp;&nbsp; 4007666 |
| **Oil, Gas & Consumable Fuels — 1.6%** | **Oil, Gas & Consumable Fuels — 1.6%** | **Oil, Gas & Consumable Fuels — 1.6%** |
| Aker BP ASA | 4648 | &nbsp;&nbsp;&nbsp; 118267 |
| APA Corp.  | 4514 | &nbsp;&nbsp;&nbsp; 109600 |
| BP PLC | 233228 | &nbsp;&nbsp;&nbsp; 1337899 |
| Chevron Corp.  | 24283 | &nbsp;&nbsp;&nbsp; 3770907 |
| ConocoPhillips | 15759 | &nbsp;&nbsp;&nbsp; 1490644 |
| Coterra Energy, Inc.  | 9629 | &nbsp;&nbsp;&nbsp; 227726 |
| Devon Energy Corp.  | 8010 | &nbsp;&nbsp;&nbsp; 280831 |
| Diamondback Energy, Inc.  | 2374 | &nbsp;&nbsp;&nbsp; 339719 |
| ENEOS Holdings, Inc.  | 39832 | &nbsp;&nbsp;&nbsp; 252875 |
| Eni SpA (b) | 30078 | &nbsp;&nbsp;&nbsp; 525215 |
| EOG Resources, Inc. (b) | 6889 | &nbsp;&nbsp;&nbsp; 772395 |
| EQT Corp.  | 7874 | &nbsp;&nbsp;&nbsp; 428582 |
| Equinor ASA | 11281 | &nbsp;&nbsp;&nbsp; 275933 |
| Expand Energy Corp.  | 3005 | &nbsp;&nbsp;&nbsp; 319251 |
| Exxon Mobil Corp.  | 53792 | &nbsp;&nbsp;&nbsp; 6065048 |
| Galp Energia SGPS SA | 6138 | &nbsp;&nbsp;&nbsp; 116385 |
| Idemitsu Kosan Co. Ltd.  | 11381 | &nbsp;&nbsp;&nbsp; 78183 |
| Inpex Corp.  | 12950 | &nbsp;&nbsp;&nbsp; 232918 |
| Kinder Morgan, Inc.  | 24673 | &nbsp;&nbsp;&nbsp; 698493 |
| Marathon Petroleum Corp.  | 3836 | &nbsp;&nbsp;&nbsp; 739351 |
| Neste OYJ | 6223 | &nbsp;&nbsp;&nbsp; 114014 |
| Occidental Petroleum Corp.  | 9068 | &nbsp;&nbsp;&nbsp; 428463 |
| OMV AG | 2166 | &nbsp;&nbsp;&nbsp; 115507 |
| ONEOK, Inc.  | 7946 | &nbsp;&nbsp;&nbsp; 579820 |
| Phillips 66 Co.  | 5099 | &nbsp;&nbsp;&nbsp; 693566 |
| Repsol SA | 17022 | &nbsp;&nbsp;&nbsp; 302110 |
| Santos Ltd.  | 47765 | &nbsp;&nbsp;&nbsp; 213923 |
| Shell PLC | 86655 | &nbsp;&nbsp;&nbsp; 3085228 |
| Targa Resources Corp.  | 2715 | &nbsp;&nbsp;&nbsp; 454871 |
| Texas Pacific Land Corp.  | 244 | &nbsp;&nbsp;&nbsp; 227808 |
| TotalEnergies SE | 30192 | &nbsp;&nbsp;&nbsp; 1842345 |

---

**BHFTI-13**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Oil, Gas & Consumable Fuels—(Continued)** | **Oil, Gas & Consumable Fuels—(Continued)** | **Oil, Gas & Consumable Fuels—(Continued)** |
| Valero Energy Corp.  | 3920 | &nbsp;&nbsp;&nbsp; $667419 |
| Williams Cos., Inc.  | 15408 | &nbsp;&nbsp;&nbsp; 976097 |
| Woodside Energy Group Ltd.  | 27924 | &nbsp;&nbsp;&nbsp; 419438 |
|  |  | &nbsp;&nbsp;&nbsp; 28300831 |
| **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** |
| Holmen AB - B Shares | 1121 | &nbsp;&nbsp;&nbsp; 42572 |
| Mondi PLC | 6493 | &nbsp;&nbsp;&nbsp; 89922 |
| Stora Enso OYJ - R Shares (b) | 8567 | &nbsp;&nbsp;&nbsp; 94272 |
| Svenska Cellulosa AB SCA - Class B | 8936 | &nbsp;&nbsp;&nbsp; 118393 |
| UPM-Kymmene OYJ | 7763 | &nbsp;&nbsp;&nbsp; 212579 |
|  |  | &nbsp;&nbsp;&nbsp; 557738 |
| **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** |
| ANA Holdings, Inc.  | 2359 | &nbsp;&nbsp;&nbsp; 45655 |
| Delta Air Lines, Inc.  | 8184 | &nbsp;&nbsp;&nbsp; 464442 |
| Deutsche Lufthansa AG | 8826 | &nbsp;&nbsp;&nbsp; 74799 |
| International Consolidated Airlines Group SA | 18282 | &nbsp;&nbsp;&nbsp; 95887 |
| Japan Airlines Co. Ltd.  | 2139 | &nbsp;&nbsp;&nbsp; 43202 |
| Qantas Airways Ltd.  | 10906 | &nbsp;&nbsp;&nbsp; 79080 |
| Ryanair Holdings PLC | 12483 | &nbsp;&nbsp;&nbsp; 365186 |
| Singapore Airlines Ltd.  | 22047 | &nbsp;&nbsp;&nbsp; 111716 |
| Southwest Airlines Co. (b) | 6627 | &nbsp;&nbsp;&nbsp; 211468 |
| United Airlines Holdings, Inc. (a) | 4085 | &nbsp;&nbsp;&nbsp; 394202 |
|  |  | &nbsp;&nbsp;&nbsp; 1885637 |
| **Personal Care Products — 0.3%** | **Personal Care Products — 0.3%** | **Personal Care Products — 0.3%** |
| Beiersdorf AG | 1432 | &nbsp;&nbsp;&nbsp; 149820 |
| Estee Lauder Cos., Inc. - Class A | 2955 | &nbsp;&nbsp;&nbsp; 260395 |
| Kao Corp.  | 6886 | &nbsp;&nbsp;&nbsp; 300116 |
| Kenvue, Inc.  | 24214 | &nbsp;&nbsp;&nbsp; 392993 |
| L'Oreal SA | 3536 | &nbsp;&nbsp;&nbsp; 1532158 |
| Shiseido Co. Ltd.  | 5854 | &nbsp;&nbsp;&nbsp; 100139 |
| Unilever PLC | 36055 | &nbsp;&nbsp;&nbsp; 2131288 |
|  |  | &nbsp;&nbsp;&nbsp; 4866909 |
| **Pharmaceuticals — 2.4%** | **Pharmaceuticals — 2.4%** | **Pharmaceuticals — 2.4%** |
| Astellas Pharma, Inc.  | 26583 | &nbsp;&nbsp;&nbsp; 289918 |
| AstraZeneca PLC | 22803 | &nbsp;&nbsp;&nbsp; 3483233 |
| Bayer AG | 14448 | &nbsp;&nbsp;&nbsp; 479044 |
| Bristol-Myers Squibb Co.  | 25683 | &nbsp;&nbsp;&nbsp; 1158303 |
| Chugai Pharmaceutical Co. Ltd.  | 9894 | &nbsp;&nbsp;&nbsp; 437663 |
| Daiichi Sankyo Co. Ltd.  | 25049 | &nbsp;&nbsp;&nbsp; 560655 |
| Eisai Co. Ltd.  | 3863 | &nbsp;&nbsp;&nbsp; 129791 |
| Eli Lilly & Co.  | 10031 | &nbsp;&nbsp;&nbsp; 7653653 |
| Galderma Group AG | 1924 | &nbsp;&nbsp;&nbsp; 335931 |
| GSK PLC | 60053 | &nbsp;&nbsp;&nbsp; 1291160 |
| Haleon PLC | 132118 | &nbsp;&nbsp;&nbsp; 596769 |
| Hikma Pharmaceuticals PLC | 2448 | &nbsp;&nbsp;&nbsp; 56350 |
| Ipsen SA | 555 | &nbsp;&nbsp;&nbsp; 74714 |
| Johnson & Johnson | 30388 | &nbsp;&nbsp;&nbsp; 5634543 |
| Kyowa Kirin Co. Ltd.  | 3435 | &nbsp;&nbsp;&nbsp; 53396 |
| Merck & Co., Inc.  | 31516 | &nbsp;&nbsp;&nbsp; 2645138 |
| Merck KGaA | 1901 | &nbsp;&nbsp;&nbsp; 244525 |
| Novartis AG | 27958 | &nbsp;&nbsp;&nbsp; 3595134 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** |
| Novo Nordisk AS - Class B | 47360 | &nbsp;&nbsp;&nbsp; $2614069 |
| Orion OYJ - Class B | 1601 | &nbsp;&nbsp;&nbsp; 122634 |
| Otsuka Holdings Co. Ltd.  | 6414 | &nbsp;&nbsp;&nbsp; 342661 |
| Pfizer, Inc.  | 71739 | &nbsp;&nbsp;&nbsp; 1827910 |
| Recordati Industria Chimica e Farmaceutica SpA | 1692 | &nbsp;&nbsp;&nbsp; 102775 |
| Roche Holding AG | 10332 | &nbsp;&nbsp;&nbsp; 3400584 |
| Roche Holding AG (Bearer Shares) | 471 | &nbsp;&nbsp;&nbsp; 162394 |
| Sandoz Group AG | 6147 | &nbsp;&nbsp;&nbsp; 365547 |
| Sanofi SA | 16249 | &nbsp;&nbsp;&nbsp; 1535925 |
| Shionogi & Co. Ltd.  | 11090 | &nbsp;&nbsp;&nbsp; 196138 |
| Takeda Pharmaceutical Co. Ltd. (b) | 23391 | &nbsp;&nbsp;&nbsp; 682871 |
| Teva Pharmaceutical Industries Ltd. (ADR) (a) | 16869 | &nbsp;&nbsp;&nbsp; 340754 |
| UCB SA | 1859 | &nbsp;&nbsp;&nbsp; 514328 |
| Viatris, Inc.  | 14711 | &nbsp;&nbsp;&nbsp; 145639 |
| Zoetis, Inc.  | 5592 | &nbsp;&nbsp;&nbsp; 818221 |
|  |  | &nbsp;&nbsp;&nbsp; 41892370 |
| **Professional Services — 0.5%** | **Professional Services — 0.5%** | **Professional Services — 0.5%** |
| Automatic Data Processing, Inc.  | 5111 | &nbsp;&nbsp;&nbsp; 1500079 |
| Broadridge Financial Solutions, Inc.  | 1478 | &nbsp;&nbsp;&nbsp; 352015 |
| Bureau Veritas SA | 4674 | &nbsp;&nbsp;&nbsp; 146757 |
| Computershare Ltd.  | 7658 | &nbsp;&nbsp;&nbsp; 183999 |
| Dayforce, Inc. (a) | 2015 | &nbsp;&nbsp;&nbsp; 138813 |
| Equifax, Inc.  | 1562 | &nbsp;&nbsp;&nbsp; 400700 |
| Experian PLC | 13512 | &nbsp;&nbsp;&nbsp; 680495 |
| Intertek Group PLC | 2316 | &nbsp;&nbsp;&nbsp; 148051 |
| Jacobs Solutions, Inc.  | 1508 | &nbsp;&nbsp;&nbsp; 225989 |
| Leidos Holdings, Inc.  | 1619 | &nbsp;&nbsp;&nbsp; 305926 |
| Paychex, Inc.  | 4091 | &nbsp;&nbsp;&nbsp; 518575 |
| Paycom Software, Inc.  | 632 | &nbsp;&nbsp;&nbsp; 131544 |
| Randstad NV | 1596 | &nbsp;&nbsp;&nbsp; 68363 |
| Recruit Holdings Co. Ltd.  | 19591 | &nbsp;&nbsp;&nbsp; 1051137 |
| RELX PLC | 26987 | &nbsp;&nbsp;&nbsp; 1288959 |
| SGS SA | 2435 | &nbsp;&nbsp;&nbsp; 253278 |
| Teleperformance SE | 793 | &nbsp;&nbsp;&nbsp; 59119 |
| Verisk Analytics, Inc.  | 1763 | &nbsp;&nbsp;&nbsp; 443412 |
| Wolters Kluwer NV | 3508 | &nbsp;&nbsp;&nbsp; 478869 |
|  |  | &nbsp;&nbsp;&nbsp; 8376080 |
| **Real Estate Management & Development — 0.8%** | **Real Estate Management & Development — 0.8%** | **Real Estate Management & Development — 0.8%** |
| abrdn European Logistics Income PLC | 20109 | &nbsp;&nbsp;&nbsp; 8867 |
| Allreal Holding AG | 547 | &nbsp;&nbsp;&nbsp; 127932 |
| Amot Investments Ltd.  | 8904 | &nbsp;&nbsp;&nbsp; 66645 |
| Aroundtown SA (a) | 26418 | &nbsp;&nbsp;&nbsp; 101295 |
| Atrium Ljungberg AB - B Shares | 8524 | &nbsp;&nbsp;&nbsp; 28712 |
| Azrieli Group Ltd.  | 1986 | &nbsp;&nbsp;&nbsp; 197381 |
| CA Immobilien Anlagen AG | 1012 | &nbsp;&nbsp;&nbsp; 27780 |
| CapitaLand Investment Ltd.  | 118871 | &nbsp;&nbsp;&nbsp; 248285 |
| Castellum AB | 12759 | &nbsp;&nbsp;&nbsp; 144428 |
| Catena AB | 1567 | &nbsp;&nbsp;&nbsp; 71454 |
| CBRE Group, Inc. - Class A (a) | 3698 | &nbsp;&nbsp;&nbsp; 582657 |
| Cibus Nordic Real Estate AB publ | 2866 | &nbsp;&nbsp;&nbsp; 51634 |
| City Developments Ltd.  | 14726 | &nbsp;&nbsp;&nbsp; 79007 |
| Citycon OYJ | 2890 | &nbsp;&nbsp;&nbsp; 11099 |
| CK Asset Holdings Ltd.  | 28214 | &nbsp;&nbsp;&nbsp; 136923 |
| Corem Property Group AB - Class B | 29602 | &nbsp;&nbsp;&nbsp; 12989 |

---

**BHFTI-14**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Real Estate Management & Development—(Continued)** | **Real Estate Management & Development—(Continued)** | **Real Estate Management & Development—(Continued)** |
| CoStar Group, Inc. (a) | 5345 | &nbsp;&nbsp;&nbsp; $450958 |
| Daito Trust Construction Co. Ltd.  | 4140 | &nbsp;&nbsp;&nbsp; 90805 |
| Daiwa House Industry Co. Ltd.  | 8223 | &nbsp;&nbsp;&nbsp; 295610 |
| Deutsche EuroShop AG | 380 | &nbsp;&nbsp;&nbsp; 8264 |
| Deutsche Wohnen SE | 1830 | &nbsp;&nbsp;&nbsp; 46518 |
| Dios Fastigheter AB | 3747 | &nbsp;&nbsp;&nbsp; 26010 |
| Entra ASA (a) | 1642 | &nbsp;&nbsp;&nbsp; 19595 |
| Fabege AB | 7011 | &nbsp;&nbsp;&nbsp; 59374 |
| Fastighets AB Balder - B Shares (a) | 36324 | &nbsp;&nbsp;&nbsp; 260946 |
| FastPartner AB - Class A | 1744 | &nbsp;&nbsp;&nbsp; 9390 |
| Grainger PLC | 26137 | &nbsp;&nbsp;&nbsp; 68265 |
| Grand City Properties SA | 2538 | &nbsp;&nbsp;&nbsp; 33507 |
| Heba Fastighets AB - Class B | 2746 | &nbsp;&nbsp;&nbsp; 9268 |
| Heiwa Real Estate Co. Ltd.  | 1467 | &nbsp;&nbsp;&nbsp; 23444 |
| Henderson Land Development Co. Ltd.  | 70623 | &nbsp;&nbsp;&nbsp; 249293 |
| Hiag Immobilien Holding AG | 156 | &nbsp;&nbsp;&nbsp; 21870 |
| Hongkong Land Holdings Ltd.  | 54022 | &nbsp;&nbsp;&nbsp; 341851 |
| Hufvudstaden AB - A Shares | 3771 | &nbsp;&nbsp;&nbsp; 50867 |
| Hulic Co. Ltd.  | 24034 | &nbsp;&nbsp;&nbsp; 263412 |
| Hysan Development Co. Ltd.  | 22119 | &nbsp;&nbsp;&nbsp; 45190 |
| Intea Fastigheter AB | 2355 | &nbsp;&nbsp;&nbsp; 17403 |
| Intershop Holding AG | 200 | &nbsp;&nbsp;&nbsp; 39402 |
| Kennedy-Wilson Holdings, Inc. (b) | 4454 | &nbsp;&nbsp;&nbsp; 37057 |
| Kojamo OYJ (a) | 5668 | &nbsp;&nbsp;&nbsp; 72260 |
| LEG Immobilien SE | 3887 | &nbsp;&nbsp;&nbsp; 309017 |
| Lifestyle Communities Ltd. (a) | 3566 | &nbsp;&nbsp;&nbsp; 13579 |
| Logistea AB - Class B | 8497 | &nbsp;&nbsp;&nbsp; 13874 |
| Melisron Ltd.  | 898 | &nbsp;&nbsp;&nbsp; 108573 |
| Mitsubishi Estate Co. Ltd.  | 57344 | &nbsp;&nbsp;&nbsp; 1320553 |
| Mitsui Fudosan Co. Ltd.  | 136069 | &nbsp;&nbsp;&nbsp; 1486446 |
| Mobimo Holding AG | 270 | &nbsp;&nbsp;&nbsp; 110914 |
| Neobo Fastigheter AB (a) | 3008 | &nbsp;&nbsp;&nbsp; 5377 |
| New World Development Co. Ltd. (a) | 51176 | &nbsp;&nbsp;&nbsp; 51504 |
| Nomura Real Estate Holdings, Inc.  | 19413 | &nbsp;&nbsp;&nbsp; 123791 |
| NP3 Fastigheter AB | 1170 | &nbsp;&nbsp;&nbsp; 31266 |
| Nyfosa AB | 5930 | &nbsp;&nbsp;&nbsp; 51821 |
| Pandox AB | 3939 | &nbsp;&nbsp;&nbsp; 75473 |
| Peach Property Group AG (a) | 1619 | &nbsp;&nbsp;&nbsp; 12956 |
| Platzer Fastigheter Holding AB - Class B | 2335 | &nbsp;&nbsp;&nbsp; 17119 |
| PSP Swiss Property AG | 1699 | &nbsp;&nbsp;&nbsp; 292151 |
| Public Property Invest AS | 7467 | &nbsp;&nbsp;&nbsp; 17552 |
| Sagax AB - Class B | 11167 | &nbsp;&nbsp;&nbsp; 233549 |
| Samhallsbyggnadsbolaget i Norden AB (a) | 37643 | &nbsp;&nbsp;&nbsp; 20596 |
| Sino Land Co. Ltd.  | 188053 | &nbsp;&nbsp;&nbsp; 238076 |
| Sirius Real Estate Ltd.  | 55064 | &nbsp;&nbsp;&nbsp; 72514 |
| StorageVault Canada, Inc.  | 8315 | &nbsp;&nbsp;&nbsp; 30889 |
| Sumitomo Realty & Development Co. Ltd.  | 16612 | &nbsp;&nbsp;&nbsp; 732867 |
| Sun Hung Kai Properties Ltd.  | 73455 | &nbsp;&nbsp;&nbsp; 881022 |
| Sveafastigheter AB (a) | 2640 | &nbsp;&nbsp;&nbsp; 11367 |
| Swedish Logistic Property AB - Class B (a) | 6278 | &nbsp;&nbsp;&nbsp; 27435 |
| Swire Properties Ltd.  | 36429 | &nbsp;&nbsp;&nbsp; 103643 |
| Swiss Prime Site AG | 4061 | &nbsp;&nbsp;&nbsp; 568366 |
| TAG Immobilien AG | 6231 | &nbsp;&nbsp;&nbsp; 107728 |
| Tokyo Tatemono Co. Ltd.  | 7176 | &nbsp;&nbsp;&nbsp; 143666 |
| UOL Group Ltd.  | 16955 | &nbsp;&nbsp;&nbsp; 102646 |
| VGP NV | 499 | &nbsp;&nbsp;&nbsp; 56007 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Real Estate Management & Development—(Continued)** | **Real Estate Management & Development—(Continued)** | **Real Estate Management & Development—(Continued)** |
| Vonovia SE | 37231 | &nbsp;&nbsp;&nbsp; $1161993 |
| Wallenstam AB - Class B | 12990 | &nbsp;&nbsp;&nbsp; 60366 |
| Wharf Holdings Ltd.  | 16121 | &nbsp;&nbsp;&nbsp; 46080 |
| Wharf Real Estate Investment Co. Ltd.  | 82424 | &nbsp;&nbsp;&nbsp; 243738 |
| Wihlborgs Fastigheter AB | 10031 | &nbsp;&nbsp;&nbsp; 98161 |
|  |  | &nbsp;&nbsp;&nbsp; 13420322 |
| **Residential REITs — 0.5%** | **Residential REITs — 0.5%** | **Residential REITs — 0.5%** |
| Advance Residence Investment Corp.  | 97 | &nbsp;&nbsp;&nbsp; 108963 |
| Altarea SCA | 249 | &nbsp;&nbsp;&nbsp; 30735 |
| American Homes 4 Rent - Class A | 12711 | &nbsp;&nbsp;&nbsp; 422641 |
| Apartment Investment & Management Co. - Class A | 4861 | &nbsp;&nbsp;&nbsp; 38548 |
| AvalonBay Communities, Inc.  | 7085 | &nbsp;&nbsp;&nbsp; 1368609 |
| Boardwalk Real Estate Investment Trust | 1503 | &nbsp;&nbsp;&nbsp; 74659 |
| Camden Property Trust | 5347 | &nbsp;&nbsp;&nbsp; 570953 |
| Canadian Apartment Properties REIT | 5837 | &nbsp;&nbsp;&nbsp; 170702 |
| Care Property Invest NV | 1377 | &nbsp;&nbsp;&nbsp; 18885 |
| Centerspace | 620 | &nbsp;&nbsp;&nbsp; 36518 |
| Comforia Residential REIT, Inc.  | 24 | &nbsp;&nbsp;&nbsp; 52746 |
| Daiwa Securities Living Investments Corp.  | 71 | &nbsp;&nbsp;&nbsp; 51563 |
| Elme Communities | 3241 | &nbsp;&nbsp;&nbsp; 54643 |
| Empiric Student Property PLC | 24731 | &nbsp;&nbsp;&nbsp; 30854 |
| Equity LifeStyle Properties, Inc.  | 7148 | &nbsp;&nbsp;&nbsp; 433884 |
| Equity Residential | 18476 | &nbsp;&nbsp;&nbsp; 1195951 |
| Essex Property Trust, Inc.  | 3184 | &nbsp;&nbsp;&nbsp; 852229 |
| Home Invest Belgium SA | 364 | &nbsp;&nbsp;&nbsp; 8405 |
| Home REIT PLC (a) (c) (d) | 72879 | &nbsp;&nbsp;&nbsp; 0 |
| Independence Realty Trust, Inc.  | 8664 | &nbsp;&nbsp;&nbsp; 142003 |
| Ingenia Communities Group | 15050 | &nbsp;&nbsp;&nbsp; 54245 |
| InterRent Real Estate Investment Trust | 4980 | &nbsp;&nbsp;&nbsp; 47843 |
| Invitation Homes, Inc.  | 29879 | &nbsp;&nbsp;&nbsp; 876351 |
| Irish Residential Properties REIT PLC | 18893 | &nbsp;&nbsp;&nbsp; 21735 |
| Killam Apartment Real Estate Investment Trust (b) | 4409 | &nbsp;&nbsp;&nbsp; 56930 |
| Mid-America Apartment Communities, Inc.  | 5806 | &nbsp;&nbsp;&nbsp; 811272 |
| Mitsui Fudosan Accommodations Fund, Inc.  | 87 | &nbsp;&nbsp;&nbsp; 77665 |
| NexPoint Residential Trust, Inc.  | 828 | &nbsp;&nbsp;&nbsp; 26678 |
| PRS REIT PLC | 18788 | &nbsp;&nbsp;&nbsp; 28340 |
| Residential Secure Income PLC | 6863 | &nbsp;&nbsp;&nbsp; 5319 |
| Samty Residential Investment Corp.  | 13 | &nbsp;&nbsp;&nbsp; 10090 |
| Social Housing Reit PLC | 14105 | &nbsp;&nbsp;&nbsp; 13359 |
| Starts Proceed Investment Corp.  | 8 | &nbsp;&nbsp;&nbsp; 11215 |
| Sun Communities, Inc.  | 4701 | &nbsp;&nbsp;&nbsp; 606429 |
| UDR, Inc.  | 16096 | &nbsp;&nbsp;&nbsp; 599737 |
| UMH Properties, Inc.  | 2927 | &nbsp;&nbsp;&nbsp; 43466 |
| UNITE Group PLC | 15752 | &nbsp;&nbsp;&nbsp; 152455 |
| Veris Residential, Inc.  | 2907 | &nbsp;&nbsp;&nbsp; 44186 |
| Xior Student Housing NV | 1377 | &nbsp;&nbsp;&nbsp; 47421 |
|  |  | &nbsp;&nbsp;&nbsp; 9198227 |
| **Retail REITs — 0.8%** | **Retail REITs — 0.8%** | **Retail REITs — 0.8%** |
| Acadia Realty Trust (b) | 4860 | &nbsp;&nbsp;&nbsp; 97928 |
| AEON REIT Investment Corp.  | 63 | &nbsp;&nbsp;&nbsp; 55231 |
| Agree Realty Corp. (b) | 4027 | &nbsp;&nbsp;&nbsp; 286078 |
| Ascencio | 220 | &nbsp;&nbsp;&nbsp; 13252 |
| Brixmor Property Group, Inc.  | 11326 | &nbsp;&nbsp;&nbsp; 313504 |
| BWP Property Group Ltd.  | 20492 | &nbsp;&nbsp;&nbsp; 50529 |

---

**BHFTI-15**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Retail REITs—(Continued)** | **Retail REITs—(Continued)** | **Retail REITs—(Continued)** |
| Carmila SA (a) | 2346 | &nbsp;&nbsp;&nbsp; $48629 |
| Charter Hall Retail REIT | 21083 | &nbsp;&nbsp;&nbsp; 57751 |
| Choice Properties Real Estate Investment Trust (b) | 10290 | &nbsp;&nbsp;&nbsp; 108689 |
| Crombie Real Estate Investment Trust | 4019 | &nbsp;&nbsp;&nbsp; 43520 |
| Curbline Properties Corp.  | 3585 | &nbsp;&nbsp;&nbsp; 79946 |
| Eurocommercial Properties NV | 1581 | &nbsp;&nbsp;&nbsp; 49482 |
| Federal Realty Investment Trust | 4156 | &nbsp;&nbsp;&nbsp; 421044 |
| First Capital Real Estate Investment Trust (b) | 7882 | &nbsp;&nbsp;&nbsp; 111969 |
| Fortune Real Estate Investment Trust | 56620 | &nbsp;&nbsp;&nbsp; 36751 |
| Frasers Centrepoint Trust | 47580 | &nbsp;&nbsp;&nbsp; 85563 |
| Frontier Real Estate Investment Corp.  | 91 | &nbsp;&nbsp;&nbsp; 54945 |
| Fukuoka REIT Corp.  | 27 | &nbsp;&nbsp;&nbsp; 34561 |
| Getty Realty Corp. (b) | 1950 | &nbsp;&nbsp;&nbsp; 52319 |
| Hamborner REIT AG | 2663 | &nbsp;&nbsp;&nbsp; 17761 |
| Hammerson PLC | 17414 | &nbsp;&nbsp;&nbsp; 68530 |
| HomeCo Daily Needs REIT | 65539 | &nbsp;&nbsp;&nbsp; 58851 |
| Immobiliare Grande Distribuzione SIIQ SpA | 2020 | &nbsp;&nbsp;&nbsp; 8197 |
| InvenTrust Properties Corp.  | 2873 | &nbsp;&nbsp;&nbsp; 82225 |
| Japan Metropolitan Fund Invest (b) | 249 | &nbsp;&nbsp;&nbsp; 191457 |
| Kimco Realty Corp.  | 33406 | &nbsp;&nbsp;&nbsp; 729921 |
| Kite Realty Group Trust | 8133 | &nbsp;&nbsp;&nbsp; 181366 |
| Kiwi Property Group Ltd.  | 52312 | &nbsp;&nbsp;&nbsp; 32043 |
| Klepierre SA | 10885 | &nbsp;&nbsp;&nbsp; 423994 |
| Lendlease Global Commercial REIT | 63044 | &nbsp;&nbsp;&nbsp; 30560 |
| Link REIT | 134485 | &nbsp;&nbsp;&nbsp; 691759 |
| LOTTE REIT Co. Ltd.  | 5558 | &nbsp;&nbsp;&nbsp; 15436 |
| Macerich Co.  | 9353 | &nbsp;&nbsp;&nbsp; 170225 |
| Mercialys SA | 3466 | &nbsp;&nbsp;&nbsp; 44643 |
| NETSTREIT Corp. (b) | 3493 | &nbsp;&nbsp;&nbsp; 63084 |
| NewRiver REIT PLC | 14001 | &nbsp;&nbsp;&nbsp; 13488 |
| NNN REIT, Inc. (b) | 6956 | &nbsp;&nbsp;&nbsp; 296117 |
| Phillips Edison & Co., Inc.  | 4650 | &nbsp;&nbsp;&nbsp; 159635 |
| Primaris Real Estate Investment Trust | 3977 | &nbsp;&nbsp;&nbsp; 43808 |
| Realty Income Corp.  | 45184 | &nbsp;&nbsp;&nbsp; 2746735 |
| Regency Centers Corp.  | 8782 | &nbsp;&nbsp;&nbsp; 640208 |
| Region RE Ltd.  | 42889 | &nbsp;&nbsp;&nbsp; 67944 |
| Retail Estates NV | 430 | &nbsp;&nbsp;&nbsp; 32089 |
| RioCan Real Estate Investment Trust (b) | 11044 | &nbsp;&nbsp;&nbsp; 150380 |
| Scentre Group | 270372 | &nbsp;&nbsp;&nbsp; 731551 |
| Shaftesbury Capital PLC | 54599 | &nbsp;&nbsp;&nbsp; 104455 |
| Simon Property Group, Inc.  | 16174 | &nbsp;&nbsp;&nbsp; 3035375 |
| SmartCentres Real Estate Investment Trust (b) | 4794 | &nbsp;&nbsp;&nbsp; 92146 |
| Starhill Global REIT | 52560 | &nbsp;&nbsp;&nbsp; 23014 |
| Supermarket Income REIT PLC | 45737 | &nbsp;&nbsp;&nbsp; 48442 |
| Tanger, Inc.  | 4116 | &nbsp;&nbsp;&nbsp; 139285 |
| Unibail-Rodamco-Westfield (a) | 5596 | &nbsp;&nbsp;&nbsp; 590126 |
| Urban Edge Properties | 4685 | &nbsp;&nbsp;&nbsp; 95902 |
| Vastned NV | 301 | &nbsp;&nbsp;&nbsp; 10604 |
| Vicinity Ltd.  | 201155 | &nbsp;&nbsp;&nbsp; 336078 |
| Waypoint REIT Ltd.  | 23079 | &nbsp;&nbsp;&nbsp; 41279 |
| Wereldhave NV | 1406 | &nbsp;&nbsp;&nbsp; 31437 |
|  |  | &nbsp;&nbsp;&nbsp; 14241841 |
| **Semiconductors & Semiconductor Equipment — 6.2%** | **Semiconductors & Semiconductor Equipment — 6.2%** | **Semiconductors & Semiconductor Equipment — 6.2%** |
| Advanced Micro Devices, Inc. (a) | 20477 | &nbsp;&nbsp;&nbsp; 3312974 |
| Advantest Corp.  | 11231 | &nbsp;&nbsp;&nbsp; 1122880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Semiconductors & Semiconductor Equipment—(Continued)** | **Semiconductors & Semiconductor Equipment—(Continued)** | **Semiconductors & Semiconductor Equipment—(Continued)** |
| Analog Devices, Inc.  | 6262 | &nbsp;&nbsp;&nbsp; $1538573 |
| Applied Materials, Inc.  | 10126 | &nbsp;&nbsp;&nbsp; 2073197 |
| ASM International NV | 689 | &nbsp;&nbsp;&nbsp; 414166 |
| ASML Holding NV | 5792 | &nbsp;&nbsp;&nbsp; 5646982 |
| BE Semiconductor Industries NV | 1074 | &nbsp;&nbsp;&nbsp; 161078 |
| Broadcom, Inc.  | 59246 | &nbsp;&nbsp;&nbsp; 19545848 |
| Disco Corp.  | 1402 | &nbsp;&nbsp;&nbsp; 440421 |
| First Solar, Inc. (a) | 1353 | &nbsp;&nbsp;&nbsp; 298377 |
| Infineon Technologies AG | 19204 | &nbsp;&nbsp;&nbsp; 749565 |
| Intel Corp. (a) | 55228 | &nbsp;&nbsp;&nbsp; 1852899 |
| KLA Corp.  | 1665 | &nbsp;&nbsp;&nbsp; 1795869 |
| Lam Research Corp.  | 15969 | &nbsp;&nbsp;&nbsp; 2138249 |
| Lasertec Corp.  | 1133 | &nbsp;&nbsp;&nbsp; 156544 |
| Microchip Technology, Inc.  | 6810 | &nbsp;&nbsp;&nbsp; 437338 |
| Micron Technology, Inc.  | 14121 | &nbsp;&nbsp;&nbsp; 2362726 |
| Monolithic Power Systems, Inc.  | 604 | &nbsp;&nbsp;&nbsp; 556067 |
| Nova Ltd. (a) | 431 | &nbsp;&nbsp;&nbsp; 137221 |
| NVIDIA Corp.  | 307873 | &nbsp;&nbsp;&nbsp; 57442944 |
| NXP Semiconductors NV | 3181 | &nbsp;&nbsp;&nbsp; 724409 |
| ON Semiconductor Corp. (a) | 5160 | &nbsp;&nbsp;&nbsp; 254440 |
| QUALCOMM, Inc.  | 13609 | &nbsp;&nbsp;&nbsp; 2263993 |
| Renesas Electronics Corp.  | 24800 | &nbsp;&nbsp;&nbsp; 284921 |
| SCREEN Holdings Co. Ltd.  | 1148 | &nbsp;&nbsp;&nbsp; 103944 |
| Skyworks Solutions, Inc.  | 1873 | &nbsp;&nbsp;&nbsp; 144184 |
| STMicroelectronics NV | 10052 | &nbsp;&nbsp;&nbsp; 284143 |
| Teradyne, Inc.  | 2007 | &nbsp;&nbsp;&nbsp; 276244 |
| Texas Instruments, Inc.  | 11471 | &nbsp;&nbsp;&nbsp; 2107567 |
| Tokyo Electron Ltd.  | 6634 | &nbsp;&nbsp;&nbsp; 1196110 |
|  |  | &nbsp;&nbsp;&nbsp; 109823873 |
| **Software — 5.0%** | **Software — 5.0%** | **Software — 5.0%** |
| Adobe, Inc. (a) | 5352 | &nbsp;&nbsp;&nbsp; 1887918 |
| AppLovin Corp. - Class A (a) | 3416 | &nbsp;&nbsp;&nbsp; 2454533 |
| Autodesk, Inc. (a) | 2700 | &nbsp;&nbsp;&nbsp; 857709 |
| Cadence Design Systems, Inc. (a) | 3438 | &nbsp;&nbsp;&nbsp; 1207632 |
| Check Point Software Technologies Ltd. (a) | 1275 | &nbsp;&nbsp;&nbsp; 263810 |
| Crowdstrike Holdings, Inc. - Class A (a) | 3145 | &nbsp;&nbsp;&nbsp; 1542245 |
| CyberArk Software Ltd. (a) | 703 | &nbsp;&nbsp;&nbsp; 339654 |
| Dassault Systemes SE | 9886 | &nbsp;&nbsp;&nbsp; 332555 |
| Datadog, Inc. - Class A (a) | 4079 | &nbsp;&nbsp;&nbsp; 580850 |
| Fair Isaac Corp. (a) | 303 | &nbsp;&nbsp;&nbsp; 453449 |
| Fortinet, Inc. (a) | 8218 | &nbsp;&nbsp;&nbsp; 690969 |
| Gen Digital, Inc.  | 7071 | &nbsp;&nbsp;&nbsp; 200746 |
| Intuit, Inc.  | 3520 | &nbsp;&nbsp;&nbsp; 2403843 |
| Microsoft Corp.  | 93789 | &nbsp;&nbsp;&nbsp; 48578013 |
| Monday.com Ltd. (a) | 597 | &nbsp;&nbsp;&nbsp; 115633 |
| Nemetschek SE | 849 | &nbsp;&nbsp;&nbsp; 110483 |
| Nice Ltd. (a) | 930 | &nbsp;&nbsp;&nbsp; 135212 |
| Oracle Corp.  | 20910 | &nbsp;&nbsp;&nbsp; 5880728 |
| Oracle Corp. Japan | 544 | &nbsp;&nbsp;&nbsp; 55587 |
| Palantir Technologies, Inc. - Class A (a) | 28696 | &nbsp;&nbsp;&nbsp; 5234724 |
| Palo Alto Networks, Inc. (a) | 8428 | &nbsp;&nbsp;&nbsp; 1716109 |
| PTC, Inc. (a) | 1512 | &nbsp;&nbsp;&nbsp; 306966 |
| Roper Technologies, Inc.  | 1358 | &nbsp;&nbsp;&nbsp; 677221 |
| Sage Group PLC | 14238 | &nbsp;&nbsp;&nbsp; 211399 |
| Salesforce, Inc.  | 12063 | &nbsp;&nbsp;&nbsp; 2858931 |

---

**BHFTI-16**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| SAP SE | 15356 | &nbsp;&nbsp;&nbsp; $4116815 |
| ServiceNow, Inc. (a) | 2624 | &nbsp;&nbsp;&nbsp; 2414815 |
| Synopsys, Inc. (a) | 2335 | &nbsp;&nbsp;&nbsp; 1152066 |
| Trend Micro, Inc.  | 1892 | &nbsp;&nbsp;&nbsp; 103348 |
| Tyler Technologies, Inc. (a) | 546 | &nbsp;&nbsp;&nbsp; 285645 |
| WiseTech Global Ltd.  | 2954 | &nbsp;&nbsp;&nbsp; 176655 |
| Workday, Inc. - Class A (a) | 2725 | &nbsp;&nbsp;&nbsp; 655989 |
| Xero Ltd. (a) | 2421 | &nbsp;&nbsp;&nbsp; 253044 |
|  |  | &nbsp;&nbsp;&nbsp; 88255296 |
| **Specialized REITs — 1.0%** | **Specialized REITs — 1.0%** | **Specialized REITs — 1.0%** |
| Abacus Storage King | 14931 | &nbsp;&nbsp;&nbsp; 13843 |
| American Tower Corp.  | 5908 | &nbsp;&nbsp;&nbsp; 1136227 |
| Arena REIT | 14525 | &nbsp;&nbsp;&nbsp; 37359 |
| Big Yellow Group PLC | 6893 | &nbsp;&nbsp;&nbsp; 90117 |
| Charter Hall Social Infrastructure REIT | 13431 | &nbsp;&nbsp;&nbsp; 30152 |
| Crown Castle, Inc.  | 5495 | &nbsp;&nbsp;&nbsp; 530212 |
| CubeSmart | 8421 | &nbsp;&nbsp;&nbsp; 342398 |
| DigiCo Infrastructure REIT | 14851 | &nbsp;&nbsp;&nbsp; 26178 |
| Digital Core REIT Management Pte. Ltd.  | 31730 | &nbsp;&nbsp;&nbsp; 15083 |
| Digital Realty Trust, Inc.  | 16594 | &nbsp;&nbsp;&nbsp; 2868771 |
| EPR Properties | 2776 | &nbsp;&nbsp;&nbsp; 161036 |
| Equinix, Inc.  | 4871 | &nbsp;&nbsp;&nbsp; 3815162 |
| Extra Space Storage, Inc.  | 10515 | &nbsp;&nbsp;&nbsp; 1481984 |
| Four Corners Property Trust, Inc. (b) | 3675 | &nbsp;&nbsp;&nbsp; 89670 |
| Gaming & Leisure Properties, Inc.  | 10101 | &nbsp;&nbsp;&nbsp; 470808 |
| Iron Mountain, Inc.  | 14642 | &nbsp;&nbsp;&nbsp; 1492605 |
| Keppel DC REIT | 66970 | &nbsp;&nbsp;&nbsp; 124237 |
| National Storage Affiliates Trust | 2620 | &nbsp;&nbsp;&nbsp; 79176 |
| National Storage REIT | 45115 | &nbsp;&nbsp;&nbsp; 70306 |
| Public Storage | 7868 | &nbsp;&nbsp;&nbsp; 2272672 |
| Safehold, Inc.  | 2067 | &nbsp;&nbsp;&nbsp; 32018 |
| Safestore Holdings PLC | 7912 | &nbsp;&nbsp;&nbsp; 70376 |
| SBA Communications Corp.  | 1355 | &nbsp;&nbsp;&nbsp; 261989 |
| Shurgard Self Storage Ltd.  | 1196 | &nbsp;&nbsp;&nbsp; 45363 |
| VICI Properties, Inc.  | 53295 | &nbsp;&nbsp;&nbsp; 1737950 |
| Weyerhaeuser Co.  | 9104 | &nbsp;&nbsp;&nbsp; 225688 |
|  |  | &nbsp;&nbsp;&nbsp; 17521380 |
| **Specialty Retail — 0.9%** | **Specialty Retail — 0.9%** | **Specialty Retail — 0.9%** |
| AutoZone, Inc. (a) | 211 | &nbsp;&nbsp;&nbsp; 905241 |
| Avolta AG | 1293 | &nbsp;&nbsp;&nbsp; 70331 |
| Best Buy Co., Inc.  | 2480 | &nbsp;&nbsp;&nbsp; 187538 |
| CarMax, Inc. (a) | 1894 | &nbsp;&nbsp;&nbsp; 84984 |
| Fast Retailing Co. Ltd.  | 2799 | &nbsp;&nbsp;&nbsp; 849966 |
| H & M Hennes & Mauritz AB - B Shares | 8297 | &nbsp;&nbsp;&nbsp; 154739 |
| Home Depot, Inc.  | 12554 | &nbsp;&nbsp;&nbsp; 5086755 |
| Industria de Diseno Textil SA | 16041 | &nbsp;&nbsp;&nbsp; 886204 |
| JD Sports Fashion PLC | 37313 | &nbsp;&nbsp;&nbsp; 47867 |
| Kingfisher PLC | 25819 | &nbsp;&nbsp;&nbsp; 107824 |
| Lowe's Cos., Inc.  | 7071 | &nbsp;&nbsp;&nbsp; 1777013 |
| Nitori Holdings Co. Ltd.  | 5660 | &nbsp;&nbsp;&nbsp; 109106 |
| O'Reilly Automotive, Inc. (a) | 10706 | &nbsp;&nbsp;&nbsp; 1154214 |
| Ross Stores, Inc.  | 4127 | &nbsp;&nbsp;&nbsp; 628913 |
| Sanrio Co. Ltd.  | 2600 | &nbsp;&nbsp;&nbsp; 121764 |
| TJX Cos., Inc.  | 14077 | &nbsp;&nbsp;&nbsp; 2034690 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Specialty Retail—(Continued)** | **Specialty Retail—(Continued)** | **Specialty Retail—(Continued)** |
| Tractor Supply Co.  | 6687 | &nbsp;&nbsp;&nbsp; $380290 |
| Ulta Beauty, Inc. (a) | 567 | &nbsp;&nbsp;&nbsp; 310007 |
| Williams-Sonoma, Inc.  | 1552 | &nbsp;&nbsp;&nbsp; 303338 |
| Zalando SE (a) | 3303 | &nbsp;&nbsp;&nbsp; 101261 |
| ZOZO, Inc.  | 6533 | &nbsp;&nbsp;&nbsp; 60013 |
|  |  | &nbsp;&nbsp;&nbsp; 15362058 |
| **Technology Hardware, Storage & Peripherals — 2.9%** | **Technology Hardware, Storage & Peripherals — 2.9%** | **Technology Hardware, Storage & Peripherals — 2.9%** |
| Apple, Inc.  | 187251 | &nbsp;&nbsp;&nbsp; 47679722 |
| Canon, Inc.  | 12798 | &nbsp;&nbsp;&nbsp; 374641 |
| Dell Technologies, Inc. - Class C | 3826 | &nbsp;&nbsp;&nbsp; 542412 |
| FUJIFILM Holdings Corp. (b) | 16426 | &nbsp;&nbsp;&nbsp; 409312 |
| Hewlett Packard Enterprise Co.  | 16557 | &nbsp;&nbsp;&nbsp; 406640 |
| HP, Inc.  | 11851 | &nbsp;&nbsp;&nbsp; 322703 |
| Logitech International SA | 2237 | &nbsp;&nbsp;&nbsp; 246376 |
| NetApp, Inc.  | 2525 | &nbsp;&nbsp;&nbsp; 299111 |
| Seagate Technology Holdings PLC | 2684 | &nbsp;&nbsp;&nbsp; 633585 |
| Super Micro Computer, Inc. (a) (b) | 6326 | &nbsp;&nbsp;&nbsp; 303268 |
| Western Digital Corp.  | 4377 | &nbsp;&nbsp;&nbsp; 525503 |
|  |  | &nbsp;&nbsp;&nbsp; 51743273 |
| **Textiles, Apparel & Luxury Goods — 0.5%** | **Textiles, Apparel & Luxury Goods — 0.5%** | **Textiles, Apparel & Luxury Goods — 0.5%** |
| adidas AG | 2515 | &nbsp;&nbsp;&nbsp; 530467 |
| Asics Corp.  | 10263 | &nbsp;&nbsp;&nbsp; 267972 |
| Cie Financiere Richemont SA - Class A | 7905 | &nbsp;&nbsp;&nbsp; 1516802 |
| Deckers Outdoor Corp. (a) | 1872 | &nbsp;&nbsp;&nbsp; 189765 |
| Hermes International SCA | 466 | &nbsp;&nbsp;&nbsp; 1142831 |
| Kering SA | 1095 | &nbsp;&nbsp;&nbsp; 364905 |
| Lululemon Athletica, Inc. (a) | 1376 | &nbsp;&nbsp;&nbsp; 244832 |
| LVMH Moet Hennessy Louis Vuitton SE | 3677 | &nbsp;&nbsp;&nbsp; 2249898 |
| Moncler SpA | 3436 | &nbsp;&nbsp;&nbsp; 201571 |
| NIKE, Inc. - Class B | 14990 | &nbsp;&nbsp;&nbsp; 1045253 |
| Pandora AS | 1162 | &nbsp;&nbsp;&nbsp; 151917 |
| Ralph Lauren Corp.  | 488 | &nbsp;&nbsp;&nbsp; 153017 |
| Swatch Group AG | 426 | &nbsp;&nbsp;&nbsp; 80199 |
| Tapestry, Inc.  | 2626 | &nbsp;&nbsp;&nbsp; 297316 |
|  |  | &nbsp;&nbsp;&nbsp; 8436745 |
| **Tobacco — 0.4%** | **Tobacco — 0.4%** | **Tobacco — 0.4%** |
| Altria Group, Inc.  | 21196 | &nbsp;&nbsp;&nbsp; 1400208 |
| British American Tobacco PLC | 30655 | &nbsp;&nbsp;&nbsp; 1626744 |
| Imperial Brands PLC | 11354 | &nbsp;&nbsp;&nbsp; 482315 |
| Japan Tobacco, Inc.  | 17664 | &nbsp;&nbsp;&nbsp; 580572 |
| Philip Morris International, Inc.  | 19641 | &nbsp;&nbsp;&nbsp; 3185770 |
|  |  | &nbsp;&nbsp;&nbsp; 7275609 |
| **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** |
| AddTech AB - B Shares | 3824 | &nbsp;&nbsp;&nbsp; 125004 |
| AerCap Holdings NV | 2595 | &nbsp;&nbsp;&nbsp; 313995 |
| Ashtead Group PLC | 6275 | &nbsp;&nbsp;&nbsp; 421682 |
| Beijer Ref AB | 5662 | &nbsp;&nbsp;&nbsp; 88243 |
| Brenntag SE | 1805 | &nbsp;&nbsp;&nbsp; 108169 |
| Bunzl PLC | 4820 | &nbsp;&nbsp;&nbsp; 152165 |
| Fastenal Co.  | 14481 | &nbsp;&nbsp;&nbsp; 710148 |
| IMCD NV | 869 | &nbsp;&nbsp;&nbsp; 89839 |

---

**BHFTI-17**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Trading Companies & Distributors—(Continued)** | **Trading Companies & Distributors—(Continued)** | **Trading Companies & Distributors—(Continued)** |
| ITOCHU Corp.  | 17504 | &nbsp;&nbsp;&nbsp; $1006581 |
| Marubeni Corp.  | 20743 | &nbsp;&nbsp;&nbsp; 517596 |
| Mitsubishi Corp.  | 47363 | &nbsp;&nbsp;&nbsp; 1129032 |
| Mitsui & Co. Ltd.  | 36278 | &nbsp;&nbsp;&nbsp; 900862 |
| MonotaRO Co. Ltd.  | 3643 | &nbsp;&nbsp;&nbsp; 52907 |
| Rexel SA | 3299 | &nbsp;&nbsp;&nbsp; 108935 |
| SGH Ltd.  | 2993 | &nbsp;&nbsp;&nbsp; 99421 |
| Sumitomo Corp.  | 15997 | &nbsp;&nbsp;&nbsp; 462952 |
| Toyota Tsusho Corp.  | 10109 | &nbsp;&nbsp;&nbsp; 279639 |
| United Rentals, Inc.  | 812 | &nbsp;&nbsp;&nbsp; 775184 |
| WW Grainger, Inc.  | 555 | &nbsp;&nbsp;&nbsp; 528893 |
|  |  | &nbsp;&nbsp;&nbsp; 7871247 |
| **Transportation Infrastructure — 0.1%** | **Transportation Infrastructure — 0.1%** | **Transportation Infrastructure — 0.1%** |
| Aena SME SA | 11031 | &nbsp;&nbsp;&nbsp; 302237 |
| Aeroports de Paris SA | 509 | &nbsp;&nbsp;&nbsp; 67494 |
| Auckland International Airport Ltd.  | 24832 | &nbsp;&nbsp;&nbsp; 113462 |
| Getlink SE | 4450 | &nbsp;&nbsp;&nbsp; 81877 |
| Transurban Group | 45713 | &nbsp;&nbsp;&nbsp; 418631 |
|  |  | &nbsp;&nbsp;&nbsp; 983701 |
| **Water Utilities — 0.0%** | **Water Utilities — 0.0%** | **Water Utilities — 0.0%** |
| American Water Works Co., Inc.  | 2462 | &nbsp;&nbsp;&nbsp; 342686 |
| Severn Trent PLC | 3982 | &nbsp;&nbsp;&nbsp; 138773 |
| United Utilities Group PLC | 10031 | &nbsp;&nbsp;&nbsp; 154641 |
|  |  | &nbsp;&nbsp;&nbsp; 636100 |
| **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** |
| KDDI Corp.  | 46180 | &nbsp;&nbsp;&nbsp; 739967 |
| SoftBank Corp.  | 421715 | &nbsp;&nbsp;&nbsp; 620270 |
| SoftBank Group Corp.  | 14047 | &nbsp;&nbsp;&nbsp; 1784111 |
| Tele2 AB - B Shares | 8053 | &nbsp;&nbsp;&nbsp; 137382 |
| T-Mobile U.S., Inc.  | 6106 | &nbsp;&nbsp;&nbsp; 1461654 |
| Vodafone Group PLC | 286390 | &nbsp;&nbsp;&nbsp; 332096 |
|  |  | &nbsp;&nbsp;&nbsp; 5075480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $618,647,879) <br>|  | &nbsp;&nbsp;&nbsp; 1076782318 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **U.S. Treasury & Government Agencies—29.5%** | **U.S. Treasury & Government Agencies—29.5%** | **U.S. Treasury & Government Agencies—29.5%** |
| **Federal Agencies — 2.1%** | **Federal Agencies — 2.1%** | **Federal Agencies — 2.1%** |
| Federal Farm Credit Banks Funding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 01/22/26 | 2135000 | &nbsp;&nbsp;&nbsp; 2135801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/05/26 | 1425000 | &nbsp;&nbsp;&nbsp; 1429688 |
| Federal Home Loan Banks |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 01/15/27 (b) | 1565000 | &nbsp;&nbsp;&nbsp; 1575092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/17/26 | 5685000 | &nbsp;&nbsp;&nbsp; 5742464 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/15/32 | 2554000 | &nbsp;&nbsp;&nbsp; 2899141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/31 (b) | 2509000 | &nbsp;&nbsp;&nbsp; 2867841 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/30 (b) | 10946000 | &nbsp;&nbsp;&nbsp; 12371863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/15/30 | 7228000 | &nbsp;&nbsp;&nbsp; 8298124 |
|  |  | &nbsp;&nbsp;&nbsp; 37320014 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **U.S. Treasury — 27.4%** | **U.S. Treasury — 27.4%** | **U.S. Treasury — 27.4%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 05/15/40 | 5291000 | &nbsp;&nbsp;&nbsp; $3369499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 05/15/50 | 1371200 | &nbsp;&nbsp;&nbsp; 672584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/46 | 12501700 | &nbsp;&nbsp;&nbsp; 8340978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/49 | 3018100 | &nbsp;&nbsp;&nbsp; 1926397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/15/52 | 10134700 | &nbsp;&nbsp;&nbsp; 6286285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 3241800 | &nbsp;&nbsp;&nbsp; 2121100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/15/45 | 3923400 | &nbsp;&nbsp;&nbsp; 2810288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/47 | 2487400 | &nbsp;&nbsp;&nbsp; 1803171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/43 | 3596200 | &nbsp;&nbsp;&nbsp; 2817398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 08/15/45 | 6735300 | &nbsp;&nbsp;&nbsp; 5118039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/49 | 2619500 | &nbsp;&nbsp;&nbsp; 1911007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/52 | 6427100 | &nbsp;&nbsp;&nbsp; 4586338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/45 | 1975000 | &nbsp;&nbsp;&nbsp; 1536951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/47 | 2293600 | &nbsp;&nbsp;&nbsp; 1751379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/47 | 2558200 | &nbsp;&nbsp;&nbsp; 1947630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/48 | 1892700 | &nbsp;&nbsp;&nbsp; 1429284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/48 | 6630600 | &nbsp;&nbsp;&nbsp; 4985382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/49 | 1948700 | &nbsp;&nbsp;&nbsp; 1459089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 02/15/43 | 6077800 | &nbsp;&nbsp;&nbsp; 4960767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 08/15/43 | 5467900 | &nbsp;&nbsp;&nbsp; 4770743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 02/15/53 | 1898200 | &nbsp;&nbsp;&nbsp; 1569352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/15/53 | 7244800 | &nbsp;&nbsp;&nbsp; 5983752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/15/41 | 2588700 | &nbsp;&nbsp;&nbsp; 2352582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/52 | 2014500 | &nbsp;&nbsp;&nbsp; 1782754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/15/54 | 3462400 | &nbsp;&nbsp;&nbsp; 3196228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/41 | 873000 | &nbsp;&nbsp;&nbsp; 857825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/39 | 3327600 | &nbsp;&nbsp;&nbsp; 3352297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 1031300 | &nbsp;&nbsp;&nbsp; 992989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/53 | 3149500 | &nbsp;&nbsp;&nbsp; 3154913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/55 (b) | 6944000 | &nbsp;&nbsp;&nbsp; 6965700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/15/55 | 3334000 | &nbsp;&nbsp;&nbsp; 3345461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/28 | 12075700 | &nbsp;&nbsp;&nbsp; 12641277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/29 | 4385300 | &nbsp;&nbsp;&nbsp; 4614843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/15/28 | 4001800 | &nbsp;&nbsp;&nbsp; 4208612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/15/27 | 13259200 | &nbsp;&nbsp;&nbsp; 13933037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/15/30 | 2878800 | &nbsp;&nbsp;&nbsp; 3183885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/15/27 | 1831000 | &nbsp;&nbsp;&nbsp; 1922621 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 08/15/30 | 2950500 | &nbsp;&nbsp;&nbsp; 2543769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 10/31/26 | 2120200 | &nbsp;&nbsp;&nbsp; 2062309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/31/26 | 10114600 | &nbsp;&nbsp;&nbsp; 9813928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 4796700 | &nbsp;&nbsp;&nbsp; 4151769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 01/31/27 | 4730000 | &nbsp;&nbsp;&nbsp; 4596230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/15/30 | 4515500 | &nbsp;&nbsp;&nbsp; 4117748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/28/27 | 9607700 | &nbsp;&nbsp;&nbsp; 9370885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/15/32 (f) | 14127500 | &nbsp;&nbsp;&nbsp; 12533741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 (f) | 18869600 | &nbsp;&nbsp;&nbsp; 18514321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/15/27 | 6859800 | &nbsp;&nbsp;&nbsp; 6728767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/27 (g) | 22370000 | &nbsp;&nbsp;&nbsp; 21815119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 (g) | 23594500 | &nbsp;&nbsp;&nbsp; 22938278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 05/15/29 | 13154000 | &nbsp;&nbsp;&nbsp; 12580568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 02/15/29 | 6069100 | &nbsp;&nbsp;&nbsp; 5872328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/32 | 7848700 | &nbsp;&nbsp;&nbsp; 7296532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/28 | 2762800 | &nbsp;&nbsp;&nbsp; 2711105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/32 | 16169900 | &nbsp;&nbsp;&nbsp; 15202233 |

---

**BHFTI-18**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 4377400 | &nbsp;&nbsp;&nbsp; $4310713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 09/15/28 | 1885000 | &nbsp;&nbsp;&nbsp; 1872188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 05/15/33 | 8062700 | &nbsp;&nbsp;&nbsp; 7744601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/30/28 | 2837900 | &nbsp;&nbsp;&nbsp; 2829697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/30/29 | 2654500 | &nbsp;&nbsp;&nbsp; 2635732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/15/33 | 6097900 | &nbsp;&nbsp;&nbsp; 5919965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/31/28 | 2769200 | &nbsp;&nbsp;&nbsp; 2769957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/31/28 | 1413400 | &nbsp;&nbsp;&nbsp; 1413621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 08/31/29 | 3972900 | &nbsp;&nbsp;&nbsp; 3963278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 09/30/31 | 5842600 | &nbsp;&nbsp;&nbsp; 5774132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 5386100 | &nbsp;&nbsp;&nbsp; 5403142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 7674300 | &nbsp;&nbsp;&nbsp; 7665906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 5689200 | &nbsp;&nbsp;&nbsp; 5720535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/30/32 | 11397000 | &nbsp;&nbsp;&nbsp; 11359604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/33 | 6278300 | &nbsp;&nbsp;&nbsp; 6226308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/34 | 7095700 | &nbsp;&nbsp;&nbsp; 6987047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/29/28 | 2804900 | &nbsp;&nbsp;&nbsp; 2829662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/30/28 | 5729100 | &nbsp;&nbsp;&nbsp; 5785272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/31/29 | 3185500 | &nbsp;&nbsp;&nbsp; 3219968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/31/32 | 6525500 | &nbsp;&nbsp;&nbsp; 6556088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/15/34 | 8198600 | &nbsp;&nbsp;&nbsp; 8177143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 | 4147900 | &nbsp;&nbsp;&nbsp; 4190027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/31/29 | 3453300 | &nbsp;&nbsp;&nbsp; 3505909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 6941500 | &nbsp;&nbsp;&nbsp; 7022303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/28/29 | 5982100 | &nbsp;&nbsp;&nbsp; 6095900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/30/29 | 7470400 | &nbsp;&nbsp;&nbsp; 7618933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 1518800 | &nbsp;&nbsp;&nbsp; 1535946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/15/35 | 5767200 | &nbsp;&nbsp;&nbsp; 5820366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/31/28 | 9731800 | &nbsp;&nbsp;&nbsp; 9929857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 3178900 | &nbsp;&nbsp;&nbsp; 3247569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/34 | 3233200 | &nbsp;&nbsp;&nbsp; 3307968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/31/29 | 3715100 | &nbsp;&nbsp;&nbsp; 3819297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 6607100 | &nbsp;&nbsp;&nbsp; 6831122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 09/30/28 | 3891900 | &nbsp;&nbsp;&nbsp; 4001360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 04/30/29 | 2504200 | &nbsp;&nbsp;&nbsp; 2584119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/35 | 3176500 | &nbsp;&nbsp;&nbsp; 3301078 |
|  |  | &nbsp;&nbsp;&nbsp; 483488380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $545,685,766) <br>|  | &nbsp;&nbsp;&nbsp; 520808394 |
| **Foreign Government—8.2%** | **Foreign Government—8.2%** | **Foreign Government—8.2%** |
| **Sovereign — 8.2%** | **Sovereign — 8.2%** | **Sovereign — 8.2%** |
| Australia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/21/30 (AUD) | 1867000 | &nbsp;&nbsp;&nbsp; 1173414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 05/21/41 (AUD) | 224000 | &nbsp;&nbsp;&nbsp; 117016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/21/33 (AUD) | 634000 | &nbsp;&nbsp;&nbsp; 386745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/21/37 (AUD) | 1257000 | &nbsp;&nbsp;&nbsp; 781535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/21/54 (AUD) | 151000 | &nbsp;&nbsp;&nbsp; 96655 |
| Bundesrepublik Deutschland Bundesanleihe |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/31 (EUR) | 1527148 | &nbsp;&nbsp;&nbsp; 1586279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/50 (EUR) | 1204444 | &nbsp;&nbsp;&nbsp; 639496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 08/15/48 (EUR) | 263072 | &nbsp;&nbsp;&nbsp; 211238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 02/15/34 (EUR) | 1038867 | &nbsp;&nbsp;&nbsp; 1183812 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Bundesrepublik Deutschland Bundesanleihe |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/15/54 (EUR) | 389451 | &nbsp;&nbsp;&nbsp; $392535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 07/04/42 (EUR) | 353597 | &nbsp;&nbsp;&nbsp; 423233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/04/39 (EUR) | 1677500 | &nbsp;&nbsp;&nbsp; 2254423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/04/31 (EUR) | 2832600 | &nbsp;&nbsp;&nbsp; 3842337 |
| Bundesschatzanweisungen |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 03/11/27 (EUR) | 6185000 | &nbsp;&nbsp;&nbsp; 7281601 |
| Canada Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 03/01/27 (CAD) | 3601000 | &nbsp;&nbsp;&nbsp; 2544453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 06/01/33 (CAD) | 2260000 | &nbsp;&nbsp;&nbsp; 1595966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/45 (CAD) | 1217000 | &nbsp;&nbsp;&nbsp; 872555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/01/29 (CAD) | 1511000 | &nbsp;&nbsp;&nbsp; 1203512 |
| Denmark Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 11/15/29 (DKK) | 2246769 | &nbsp;&nbsp;&nbsp; 332630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/39 (DKK) | 2059107 | &nbsp;&nbsp;&nbsp; 392399 |
| Finland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 09/15/31 (144A) (EUR) | 852000 | &nbsp;&nbsp;&nbsp; 862002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 04/15/27 (144A) (EUR) | 1294000 | &nbsp;&nbsp;&nbsp; 1504000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 04/15/47 (144A) (EUR) | 224000 | &nbsp;&nbsp;&nbsp; 175772 |
| French Republic Government Bonds OAT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/25/32 (144A) (EUR) | 309077 | &nbsp;&nbsp;&nbsp; 297482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 11/25/26 (144A) (EUR) | 7907000 | &nbsp;&nbsp;&nbsp; 9094593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 05/25/36 (144A) (EUR) | 2117382 | &nbsp;&nbsp;&nbsp; 1978066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 05/25/50 (144A) (EUR) | 1594779 | &nbsp;&nbsp;&nbsp; 1098665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/25/30 (144A) (EUR) | 3975067 | &nbsp;&nbsp;&nbsp; 4632600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/25/33 (144A) (EUR) | 3160836 | &nbsp;&nbsp;&nbsp; 3663221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/25/45 (144A) (EUR) | 1471647 | &nbsp;&nbsp;&nbsp; 1539596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/25/60 (144A) (EUR) | 292000 | &nbsp;&nbsp;&nbsp; 318864 |
| Ireland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.200%, 10/18/30 (EUR) | 539399 | &nbsp;&nbsp;&nbsp; 565540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 05/15/33 (EUR) | 355000 | &nbsp;&nbsp;&nbsp; 375851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/18/45 (EUR) | 193922 | &nbsp;&nbsp;&nbsp; 180825 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.850%, 01/15/27 (EUR) | 4133000 | &nbsp;&nbsp;&nbsp; 4780407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 03/01/32 (144A) (EUR) | 8320000 | &nbsp;&nbsp;&nbsp; 9017472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 03/01/41 (144A) (EUR) | 529000 | &nbsp;&nbsp;&nbsp; 467308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 09/01/46 (144A) (EUR) | 196000 | &nbsp;&nbsp;&nbsp; 201113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 08/01/28 (EUR) | 773000 | &nbsp;&nbsp;&nbsp; 943335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 09/01/49 (144A) (EUR) | 1487000 | &nbsp;&nbsp;&nbsp; 1646295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/39 (144A) (EUR) | 482000 | &nbsp;&nbsp;&nbsp; 637177 |
| Japan Government Forty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 03/20/54 (JPY) | 262150000 | &nbsp;&nbsp;&nbsp; 1324851 |
| Japan Government Ten Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 06/20/31 (JPY) | 510050000 | &nbsp;&nbsp;&nbsp; 3221263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 12/20/34 (JPY) | 113800000 | &nbsp;&nbsp;&nbsp; 742792 |
| Japan Government Thirty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.400%, 12/20/49 (JPY) | 513900000 | &nbsp;&nbsp;&nbsp; 1990479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 09/20/46 (JPY) | 196300000 | &nbsp;&nbsp;&nbsp; 869356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 06/20/51 (JPY) | 86150000 | &nbsp;&nbsp;&nbsp; 345019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 12/20/51 (JPY) | 228000000 | &nbsp;&nbsp;&nbsp; 900560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 09/20/43 (JPY) | 35400000 | &nbsp;&nbsp;&nbsp; 216424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 09/20/42 (JPY) | 354800000 | &nbsp;&nbsp;&nbsp; 2236690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 03/20/40 (JPY) | 34600000 | &nbsp;&nbsp;&nbsp; 237990 |
| Japan Government Twenty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 09/20/36 (JPY) | 732900000 | &nbsp;&nbsp;&nbsp; 4328860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 03/20/33 (JPY) | 274550000 | &nbsp;&nbsp;&nbsp; 1861987 |

---

**BHFTI-19**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Japan Government Twenty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 09/20/32 (JPY) | 125600000 | &nbsp;&nbsp;&nbsp; $865038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 09/20/33 (JPY) | 119000000 | &nbsp;&nbsp;&nbsp; 816701 |
| Japan Government Two Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 12/01/26 (JPY) | 706200000 | &nbsp;&nbsp;&nbsp; 4763012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 01/01/27 (JPY) | 510100000 | &nbsp;&nbsp;&nbsp; 3438781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 02/01/27 (JPY) | 509600000 | &nbsp;&nbsp;&nbsp; 3438960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 03/01/27 (JPY) | 509000000 | &nbsp;&nbsp;&nbsp; 3438387 |
| Kingdom of Belgium Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 06/22/27 (144A) (EUR) | 569000 | &nbsp;&nbsp;&nbsp; 653825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 06/22/29 (144A) (EUR) | 663616 | &nbsp;&nbsp;&nbsp; 738146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 04/22/33 (144A) (EUR) | 1077905 | &nbsp;&nbsp;&nbsp; 1123514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 06/22/47 (144A) (EUR) | 967081 | &nbsp;&nbsp;&nbsp; 745478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/28/41 (144A) (EUR) | 185177 | &nbsp;&nbsp;&nbsp; 230778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/28/35 (144A) (EUR) | 202222 | &nbsp;&nbsp;&nbsp; 272366 |
| Mexico Bonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/26/33 (MXN) | 17076700 | &nbsp;&nbsp;&nbsp; 880312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/29/31 (MXN) | 19804200 | &nbsp;&nbsp;&nbsp; 1053704 |
| Netherlands Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/15/31 (144A) (EUR) | 1572533 | &nbsp;&nbsp;&nbsp; 1601164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 01/15/52 (144A) (EUR) | 233051 | &nbsp;&nbsp;&nbsp; 115349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 01/15/47 (144A) (EUR) | 210328 | &nbsp;&nbsp;&nbsp; 225886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/42 (144A) (EUR) | 472291 | &nbsp;&nbsp;&nbsp; 591704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/28 (144A) (EUR) | 581117 | &nbsp;&nbsp;&nbsp; 733707 |
| New Zealand Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/15/32 (NZD) | 1354000 | &nbsp;&nbsp;&nbsp; 703170 |
| Norway Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 09/17/31 (144A) (NOK) | 3871000 | &nbsp;&nbsp;&nbsp; 333117 |
| Portugal Obrigacoes do Tesouro OT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/20/34 (144A) (EUR) | 1056858 | &nbsp;&nbsp;&nbsp; 1225362 |
| Republic of Austria Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/20/31 (144A) (EUR) | 786000 | &nbsp;&nbsp;&nbsp; 804834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 04/20/27 (144A) (EUR) | 1545000 | &nbsp;&nbsp;&nbsp; 1770919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 06/20/44 (144A) (EUR) | 729000 | &nbsp;&nbsp;&nbsp; 814163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 03/15/37 (144A) (EUR) | 329000 | &nbsp;&nbsp;&nbsp; 421704 |
| Republic of Poland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/25/29 (PLN) | 5998000 | &nbsp;&nbsp;&nbsp; 1713684 |
| Singapore Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 03/01/46 (SGD) | 252000 | &nbsp;&nbsp;&nbsp; 220692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 08/01/28 (SGD) | 560000 | &nbsp;&nbsp;&nbsp; 449972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 09/01/33 (SGD) | 497000 | &nbsp;&nbsp;&nbsp; 428053 |
| Spain Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/31/50 (144A) (EUR) | 759000 | &nbsp;&nbsp;&nbsp; 478039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 10/31/27 (144A) (EUR) | 658000 | &nbsp;&nbsp;&nbsp; 762330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 07/30/30 (144A) (EUR) | 3180000 | &nbsp;&nbsp;&nbsp; 3633984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/31/46 (144A) (EUR) | 778000 | &nbsp;&nbsp;&nbsp; 788525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 10/31/33 (144A) (EUR) | 1105000 | &nbsp;&nbsp;&nbsp; 1345599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 01/31/37 (144A) (EUR) | 1652000 | &nbsp;&nbsp;&nbsp; 2088449 |
| Sweden Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/11/33 (SEK) | 2965000 | &nbsp;&nbsp;&nbsp; 298410 |
| U.K. Gilts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 01/31/32 (GBP) | 5456787 | &nbsp;&nbsp;&nbsp; 6013057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/22/49 (GBP) | 646490 | &nbsp;&nbsp;&nbsp; 446821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/07/46 (GBP) | 3527007 | &nbsp;&nbsp;&nbsp; 4042129 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| U.K. Gilts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/07/35 (GBP) | 944152 | &nbsp;&nbsp;&nbsp; $1250006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $158,132,713) <br>|  | &nbsp;&nbsp;&nbsp; 145328120 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Preferred Stocks—0.1%** | **Preferred Stocks—0.1%** | **Preferred Stocks—0.1%** |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| Bayerische Motoren Werke AG | 823 | &nbsp;&nbsp;&nbsp; 76385 |
| Dr. Ing hc F Porsche AG | 1675 | &nbsp;&nbsp;&nbsp; 81316 |
| Porsche Automobil Holding SE | 2252 | &nbsp;&nbsp;&nbsp; 88479 |
| Volkswagen AG | 3033 | &nbsp;&nbsp;&nbsp; 328037 |
|  |  | &nbsp;&nbsp;&nbsp; 574217 |
| **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** |
| Henkel AG & Co. KGaA | 2359 | &nbsp;&nbsp;&nbsp; 190411 |
| **Life Sciences Tools & Services — 0.0%** | **Life Sciences Tools & Services — 0.0%** | **Life Sciences Tools & Services — 0.0%** |
| Sartorius AG | 386 | &nbsp;&nbsp;&nbsp; 89777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $1,162,991) <br>|  | &nbsp;&nbsp;&nbsp; 854405 |
| **Investment Companies—0.0%** | **Investment Companies—0.0%** | **Investment Companies—0.0%** |
| **Exchange-Traded Funds — 0.0%** | **Exchange-Traded Funds — 0.0%** | **Exchange-Traded Funds — 0.0%** |
| iShares U.S. Real Estate ETF | 720 | &nbsp;&nbsp;&nbsp; 69898 |
| Vanguard Global ex-U.S. Real Estate ETF | 1025 | &nbsp;&nbsp;&nbsp; 48933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $118,618) <br>|  | &nbsp;&nbsp;&nbsp; 118831 |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| Sofina SA (a) | 227 | &nbsp;&nbsp;&nbsp; 506 |
| **Specialized REITs — 0.0%** | **Specialized REITs — 0.0%** | **Specialized REITs — 0.0%** |
| Keppel DC REIT (a) | 5357 | &nbsp;&nbsp;&nbsp; 636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Rights <br>(Cost $0) <br>|  | &nbsp;&nbsp;&nbsp; 1142 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (h)—0.6%** | **Securities Lending Reinvestments (h)—0.6%** | **Securities Lending Reinvestments (h)—0.6%** |
| **Short-Term Investment Funds—0.4%** | **Short-Term Investment Funds—0.4%** | **Short-Term Investment Funds—0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (i)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares 4.020% (i)<br>| 500000 | &nbsp;&nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (i)<br>| 500000 | &nbsp;&nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (i)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (i)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (i)<br>| 500000 | &nbsp;&nbsp;&nbsp; 500000 |

---

**BHFTI-20**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (i)<br>| 500000 | &nbsp;&nbsp;&nbsp; $500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (i)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 6000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements—0.2%** | **Repurchase Agreements—0.2%** | **Repurchase Agreements—0.2%** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $100,012; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 0.000% - 4.625%, maturity dates ranging <br> from 10/28/25 - 05/15/35, and an aggregate market <br> value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,307,253; <br> collateralized by U.S. Treasury Obligations with zero <br> coupon, maturity dates ranging from 11/15/35 - <br> 08/15/55, and an aggregate market value of $1,333,243<br>| 1307101 | &nbsp;&nbsp;&nbsp; 1307101 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $1,000,119; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,115,094<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $100,011; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 0.125% - 2.375%, maturity dates ranging <br> from 05/31/26 - 07/15/30, and an aggregate market <br> value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,100,128<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 3507101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $9,507,101) <br>|  | &nbsp;&nbsp;&nbsp; 9507101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.5% <br>(Cost $1,333,255,068) <br>|  | &nbsp;&nbsp;&nbsp; 1753400311 |
| Other assets and liabilities (net)—0.5%  |  | &nbsp;&nbsp;&nbsp; 9625180 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1763025491 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value 

---

| | |
|:---|:---|
|  | of securities loaned was $23,246,318 and the collateral received consisted of cash in the <br> amount of $9,507,101 and non-cash collateral with a value of $14,645,002. The cash <br> collateral investments are disclosed in the Consolidated Schedule of Investments and <br> categorized as Securities Lending Reinvestments. The non-cash collateral received consists of <br> U.S. government securities that are held in safe-keeping by the lending agent, or a third-<br> party custodian, and cannot be sold or repledged by the Portfolio.<br>|
| (c) | Security was valued in good faith under procedures subject to oversight by the Board of <br> Trustees. As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (d) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. <br> Level 3.<br>|
| (e) | Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated <br> issuers.)<br>|
| (f) | All or a portion of the security was pledged as collateral against open futures contracts. As of <br> September 30, 2025, the market value of securities pledged was $20,813,242.<br>|
| (g) | All or a portion of the security was pledged as collateral against open centrally cleared swap <br> contracts. As of September 30, 2025, the market value of securities pledged was <br> $27,671,484.<br>|
| (h) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (i) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $58,633,168, which is 3.3% of net assets.<br>|

---

**BHFTI-21**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| MetLife, Inc. | &nbsp;&nbsp; $599362 | &nbsp;&nbsp; $(21510)<br>| &nbsp;&nbsp; $10655 | &nbsp;&nbsp; $(7881)<br>| &nbsp;&nbsp; $580626 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| MetLife, Inc. | &nbsp;&nbsp; $12277 | &nbsp;&nbsp; 7049 |

---

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| CAD | &nbsp;&nbsp; 36562808 | CBNA | 11/14/25 | USD | 26499034 | &nbsp;&nbsp; $(172267)<br>|
| CHF | &nbsp;&nbsp; 13856002 | JPMC | 11/21/25 | USD | 17632113 | &nbsp;&nbsp; (123017)<br>|
| EUR | &nbsp;&nbsp; 5262135 | HSBCU | 11/21/25 | USD | 6218527 | &nbsp;&nbsp; (22371)<br>|
| EUR | &nbsp;&nbsp; 1695876 | MSIP | 11/21/25 | USD | 2001506 | &nbsp;&nbsp; (4615)<br>|
| EUR | &nbsp;&nbsp; 363410 | SSBT | 11/21/25 | USD | 425855 | &nbsp;&nbsp; 2060 |
| JPY | &nbsp;&nbsp; 2086549924 | JPMC | 10/30/25 | USD | 14177036 | &nbsp;&nbsp; (26130)<br>|
| JPY | &nbsp;&nbsp; 171643691 | JPMC | 10/30/25 | USD | 1166231 | &nbsp;&nbsp; (2150)<br>|
| JPY | &nbsp;&nbsp; 12690693 | SSBT | 10/30/25 | USD | 85036 | &nbsp;&nbsp; 1032 |
| SEK | &nbsp;&nbsp; 69480909 | BBP | 11/20/25 | USD | 7403203 | &nbsp;&nbsp; (49)<br>|
| SEK | &nbsp;&nbsp; 82863638 | HSBCU | 11/20/25 | USD | 8799017 | &nbsp;&nbsp; 30059 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| AUD | &nbsp;&nbsp; 3891451 | MSIP | 11/07/25 | USD | 2519386 | &nbsp;&nbsp; (56887)<br>|
| AUD | &nbsp;&nbsp; 9247197 | NWM | 11/07/25 | USD | 5986478 | &nbsp;&nbsp; (135480)<br>|
| CAD | &nbsp;&nbsp; 8722426 | BOA | 11/14/25 | USD | 6321057 | &nbsp;&nbsp; 40541 |
| CAD | &nbsp;&nbsp; 25830422 | JPMC | 11/14/25 | USD | 18768091 | &nbsp;&nbsp; 169095 |
| CHF | &nbsp;&nbsp; 19459891 | BBP | 11/21/25 | USD | 24727081 | &nbsp;&nbsp; 136648 |
| DKK | &nbsp;&nbsp; 3775458 | SSBT | 11/20/25 | USD | 592010 | &nbsp;&nbsp; (3800)<br>|
| EUR | &nbsp;&nbsp; 12050708 | BNP | 10/15/25 | USD | 14132209 | &nbsp;&nbsp; (27161)<br>|
| EUR | &nbsp;&nbsp; 17403788 | CBNA | 11/21/25 | USD | 20531643 | &nbsp;&nbsp; 38705 |
| EUR | &nbsp;&nbsp; 11237649 | MSIP | 10/08/25 | USD | 13206828 | &nbsp;&nbsp; 8395 |
| EUR | &nbsp;&nbsp; 1695876 | MSIP | 11/21/25 | USD | 2000879 | &nbsp;&nbsp; 3987 |
| EUR | &nbsp;&nbsp; 17403788 | MSIP | 12/03/25 | USD | 20519271 | &nbsp;&nbsp; 12797 |
| EUR | &nbsp;&nbsp; 253693 | SSBT | 11/21/25 | USD | 298957 | &nbsp;&nbsp; 234 |
| EUR | &nbsp;&nbsp; 404421 | SSBT | 11/21/25 | USD | 476511 | &nbsp;&nbsp; 306 |
| EUR | &nbsp;&nbsp; 829797 | SSBT | 11/21/25 | USD | 978235 | &nbsp;&nbsp; 1150 |
| EUR | &nbsp;&nbsp; 11903910 | SSBT | 12/15/25 | USD | 14081976 | &nbsp;&nbsp; 46469 |
| GBP | &nbsp;&nbsp; 8763093 | BOA | 12/05/25 | USD | 11977913 | &nbsp;&nbsp; 190688 |
| GBP | &nbsp;&nbsp; 32545740 | BOA | 12/05/25 | USD | 44485438 | &nbsp;&nbsp; 708205 |
| GBP | &nbsp;&nbsp; 192523 | SSBT | 12/05/25 | USD | 259119 | &nbsp;&nbsp; 157 |
| JPY | &nbsp;&nbsp; 876453049 | HSBCU | 10/30/25 | USD | 5927323 | &nbsp;&nbsp; (16750)<br>|
| JPY | &nbsp;&nbsp; 2727529754 | JPMC | 10/30/25 | USD | 18662373 | &nbsp;&nbsp; 164366 |
| JPY | &nbsp;&nbsp; 1210096875 | MSIP | 10/30/25 | USD | 8264673 | &nbsp;&nbsp; 57840 |
| JPY | &nbsp;&nbsp; 2534887758 | MSIP | 10/30/25 | USD | 17312678 | &nbsp;&nbsp; 121162 |
| JPY | &nbsp;&nbsp; 60507345 | SSBT | 10/30/25 | USD | 414355 | &nbsp;&nbsp; 3996 |
| MXN | &nbsp;&nbsp; 34546591 | MSIP | 10/22/25 | USD | 1826731 | &nbsp;&nbsp; (55684)<br>|
| NOK | &nbsp;&nbsp; 3386192 | SSBT | 11/20/25 | USD | 336745 | &nbsp;&nbsp; (2643)<br>|
| NOK | &nbsp;&nbsp; 3886276 | SSBT | 11/20/25 | USD | 387083 | &nbsp;&nbsp; (2427)<br>|

---

**BHFTI-22**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| NZD | &nbsp;&nbsp; 1993688 | HSBCU | 11/07/25 | USD | 1182217 | &nbsp;&nbsp; $24770 |
| NZD | &nbsp;&nbsp; 1160121 | SSBT | 11/07/25 | USD | 686867 | &nbsp;&nbsp; 13352 |
| PLN | &nbsp;&nbsp; 6179293 | UBSA | 11/19/25 | USD | 1707147 | &nbsp;&nbsp; 8209 |
| SEK | &nbsp;&nbsp; 2859524 | SSBT | 11/20/25 | USD | 303301 | &nbsp;&nbsp; (1380)<br>|
| SGD | &nbsp;&nbsp; 1363870 | MSIP | 12/18/25 | USD | 1075714 | &nbsp;&nbsp; 12327 |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp; $1143739 |

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Canada Government Bond 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; 762 | CAD | 93314520 | &nbsp;&nbsp;&nbsp; $1404843 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 7 | GBP | 658525 | &nbsp;&nbsp;&nbsp; 2901 |
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 6 | USD | 835590 | &nbsp;&nbsp;&nbsp; 825 |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 274 | USD | 18627890 | &nbsp;&nbsp;&nbsp; 239750 |
| MSCI Singapore Index Futures. | &nbsp;&nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp;&nbsp; 4 | SGD | 178940 | &nbsp;&nbsp;&nbsp; (213)<br>|
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 472 | USD | 57949800 | &nbsp;&nbsp;&nbsp; 331388 |
| S&P Midcap 400 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 178 | USD | 58494360 | &nbsp;&nbsp;&nbsp; (1081208)<br>|
| S&P TSX 60 Index Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; 96 | CAD | 34037760 | &nbsp;&nbsp;&nbsp; 355682 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 85 | USD | 17713867 | &nbsp;&nbsp;&nbsp; (12672)<br>|
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 68 | USD | 7425281 | &nbsp;&nbsp;&nbsp; (13510)<br>|
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 170 | USD | 19125000 | &nbsp;&nbsp;&nbsp; 32864 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 73 | USD | 8764563 | &nbsp;&nbsp;&nbsp; 197882 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| Australian 10 Year Treasury Bond Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (65)<br>| AUD | (7367857)<br>| &nbsp;&nbsp;&nbsp; 16627 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (394)<br>| EUR | (21831540)<br>| &nbsp;&nbsp;&nbsp; (441913)<br>|
| Euro-Bund Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (42)<br>| EUR | (5399940)<br>| &nbsp;&nbsp;&nbsp; (18281)<br>|
| Hang Seng Index Futures | &nbsp;&nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp;&nbsp; (6)<br>| HKD | (8073600)<br>| &nbsp;&nbsp;&nbsp; (17992)<br>|
| Japanese Government Bond 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (65)<br>| JPY | (8826350000)<br>| &nbsp;&nbsp;&nbsp; 442270 |
| OMX Stockholm 30 Index Futures | &nbsp;&nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp;&nbsp; (22)<br>| SEK | (5863000)<br>| &nbsp;&nbsp;&nbsp; (7241)<br>|
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (91)<br>| USD | (30661313)<br>| &nbsp;&nbsp;&nbsp; (78609)<br>|
| SPI 200 Index Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; (16)<br>| AUD | (3549200)<br>| &nbsp;&nbsp;&nbsp; 2848 |
| TOPIX Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; (71)<br>| JPY | (2230110000)<br>| &nbsp;&nbsp;&nbsp; (15498)<br>|
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; (119)<br>| GBP | (10809960)<br>| &nbsp;&nbsp;&nbsp; (192053)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $1148690 |

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <sup>(1)</sup> <br>|
| Pay | 12M SOFR | Annually | 3.670<br> %<br>| Annually | 09/29/35 | USD | 439000000 | &nbsp;&nbsp; $334211 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $334211 |

---

**Centrally Cleared Credit Default Swap Contracts on Credit Indices—Sell Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| CDX.NA.HY.45.V1 | 5.000% | &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/20/30 | &nbsp;&nbsp; 3.208% | &nbsp;&nbsp; USD | 31990000 | &nbsp;&nbsp; $2467645 | &nbsp;&nbsp; $2445320 | &nbsp;&nbsp; $22325 |

---

**BHFTI-23**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**OTC Total Return Swap Contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Fixed Rate** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Underlying Reference** <br>**Instrument** <br>| **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premium** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <sup>(1)</sup> <br>|
| Receive | 0.000% | Maturity | 12/19/25 | MSCS | Swiss Market Index Futures<br> CHF | 5327241 | $755 | $— | $755 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) There were no upfront premiums paid or (received), therefore Market Value equals Unrealized
 Appreciation/(Depreciation).

Securities in the amount of $40,899 have been received at the custodian bank as collateral for forward foreign currency exchange contracts.

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp; $16025367 | &nbsp;&nbsp;&nbsp; $11100780 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $27126147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp;&nbsp; 1828541 | &nbsp;&nbsp;&nbsp; 1318275 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3146816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp; 236933 | &nbsp;&nbsp;&nbsp; 1642903 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1879836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp;&nbsp; 17068537 | &nbsp;&nbsp;&nbsp; 6429954 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23498491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; 25704220 | &nbsp;&nbsp;&nbsp; 41090547 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66794767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; 7415774 | &nbsp;&nbsp;&nbsp; 3257214 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10672988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp; 11352856 | &nbsp;&nbsp;&nbsp; 2024957 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13377813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp; 28417218 | &nbsp;&nbsp;&nbsp; 3144223 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31561441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp; 3558298 | &nbsp;&nbsp;&nbsp; 2645189 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6203487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp; 25261907 | &nbsp;&nbsp;&nbsp; 9276160 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34538067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; 7859396 | &nbsp;&nbsp;&nbsp; 6626331 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14485727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp; 3554323 | &nbsp;&nbsp;&nbsp; 1040950 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4595273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp; 6509023 | &nbsp;&nbsp;&nbsp; 706691 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7215714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp; 1146100 | &nbsp;&nbsp;&nbsp; 2538388 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3684488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp; 992445 | &nbsp;&nbsp;&nbsp; 1603513 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2595958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp; 4323852 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4323852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp; 12933331 | &nbsp;&nbsp;&nbsp; 3291510 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16224841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp; 1406050 | &nbsp;&nbsp;&nbsp; 46631 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1452681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributors | &nbsp;&nbsp;&nbsp; 470745 | &nbsp;&nbsp;&nbsp; 59371 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 530116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 122611 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 122611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified REITs | &nbsp;&nbsp;&nbsp; 1113172 | &nbsp;&nbsp;&nbsp; 4212467 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5325639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp; 4886009 | &nbsp;&nbsp;&nbsp; 5100789 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9986798 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp; 10880604 | &nbsp;&nbsp;&nbsp; 5398165 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16278769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp; 6338436 | &nbsp;&nbsp;&nbsp; 7893917 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14232353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp; 5251955 | &nbsp;&nbsp;&nbsp; 3003882 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8255837 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp; 1517739 | &nbsp;&nbsp;&nbsp; 98783 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1616522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; 12844772 | &nbsp;&nbsp;&nbsp; 2571493 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15416265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 28923490 | &nbsp;&nbsp;&nbsp; 3110465 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 32033955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp; 3711456 | &nbsp;&nbsp;&nbsp; 6550908 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10262364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas Utilities | &nbsp;&nbsp;&nbsp; 345769 | &nbsp;&nbsp;&nbsp; 751401 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1097170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp; 6700593 | &nbsp;&nbsp;&nbsp; 1129570 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7830163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; 14682813 | &nbsp;&nbsp;&nbsp; 5148159 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19830972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; 12124815 | &nbsp;&nbsp;&nbsp; 747561 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 12872376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care REITs | &nbsp;&nbsp;&nbsp; 10602708 | &nbsp;&nbsp;&nbsp; 466353 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11069061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 280471 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 280471 |

---

**BHFTI-24**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp;&nbsp; $1220141 | &nbsp;&nbsp;&nbsp; $373399 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1593540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 13564837 | &nbsp;&nbsp;&nbsp; 3708968 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17273805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp;&nbsp; 2166315 | &nbsp;&nbsp;&nbsp; 3272096 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5438411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp; 6336468 | &nbsp;&nbsp;&nbsp; 1223497 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7559965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp;&nbsp; 906416 | &nbsp;&nbsp;&nbsp; 676008 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1582424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp;&nbsp; 2729281 | &nbsp;&nbsp;&nbsp; 5977690 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8706971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp;&nbsp; 7294539 | &nbsp;&nbsp;&nbsp; 5160804 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12455343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 13514798 | &nbsp;&nbsp;&nbsp; 17301430 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30816228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; 52385054 | &nbsp;&nbsp;&nbsp; 660787 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 53045841 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 6843327 | &nbsp;&nbsp;&nbsp; 2473766 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9317093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp;&nbsp; 127504 | &nbsp;&nbsp;&nbsp; 408363 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 535867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp; 5890631 | &nbsp;&nbsp;&nbsp; 1048461 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6939092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 10877960 | &nbsp;&nbsp;&nbsp; 8985561 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19863521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marine Transportation | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 854224 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 854224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; 2916754 | &nbsp;&nbsp;&nbsp; 639635 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3556389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp; 2514696 | &nbsp;&nbsp;&nbsp; 7372524 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9887220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp; 4427981 | &nbsp;&nbsp;&nbsp; 2776191 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7204172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Office REITs | &nbsp;&nbsp;&nbsp; 2012362 | &nbsp;&nbsp;&nbsp; 1995304 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4007666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 19270591 | &nbsp;&nbsp;&nbsp; 9030240 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28300831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paper & Forest Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 557738 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 557738 |
| &nbsp;&nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp;&nbsp; 1070112 | &nbsp;&nbsp;&nbsp; 815525 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1885637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp; 653388 | &nbsp;&nbsp;&nbsp; 4213521 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4866909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; 20224161 | &nbsp;&nbsp;&nbsp; 21668209 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41892370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp; 4017053 | &nbsp;&nbsp;&nbsp; 4359027 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8376080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp; 1101561 | &nbsp;&nbsp;&nbsp; 12318761 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13420322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | &nbsp;&nbsp;&nbsp; 8474232 | &nbsp;&nbsp;&nbsp; 723995 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9198227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp;&nbsp; 10141409 | &nbsp;&nbsp;&nbsp; 4100432 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14241841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 99125898 | &nbsp;&nbsp;&nbsp; 10697975 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 109823873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 82760198 | &nbsp;&nbsp;&nbsp; 5495098 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 88255296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; 16998366 | &nbsp;&nbsp;&nbsp; 523014 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17521380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; 12852983 | &nbsp;&nbsp;&nbsp; 2509075 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15362058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp; 50712944 | &nbsp;&nbsp;&nbsp; 1030329 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 51743273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp; 1930183 | &nbsp;&nbsp;&nbsp; 6506562 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8436745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp; 4585978 | &nbsp;&nbsp;&nbsp; 2689631 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7275609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp;&nbsp; 2328220 | &nbsp;&nbsp;&nbsp; 5543027 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7871247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation Infrastructure | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 983701 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 983701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Water Utilities | &nbsp;&nbsp;&nbsp; 342686 | &nbsp;&nbsp;&nbsp; 293414 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 636100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp; 1461654 | &nbsp;&nbsp;&nbsp; 3613826 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5075480 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 769769928 | &nbsp;&nbsp;&nbsp; 307012390 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1076782318 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 520808394 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 520808394 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 145328120 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 145328120 |
| Total Preferred Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 854405 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 854405 |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; 118831 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 118831 |
| Rights |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 506 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 636 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 636 |
| Total Rights | &nbsp;&nbsp;&nbsp; 506 | &nbsp;&nbsp;&nbsp; 636 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1142 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3507101 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3507101 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp; 3507101 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9507101 |
| Total Investments | &nbsp;&nbsp;&nbsp; $775889265 | &nbsp;&nbsp;&nbsp; $977511046 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1753400311 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(9507101)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(9507101)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1796550 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1796550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (652811)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (652811)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1143739 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1143739 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $3027880 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3027880 |

---

**BHFTI-25**

------

**Brighthouse Funds Trust I**

**AB Global Dynamic Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; $(1879190)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1879190)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $1148690 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1148690 |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $356536 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $356536 |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Assets) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $755 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $755 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Consolidated Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-26**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—62.7% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Banks — 0.5%** | **Banks — 0.5%** | **Banks — 0.5%** |
| Bank Gospodarstwa Krajowego |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/22/33 (144A) | 552000 | &nbsp;&nbsp;&nbsp; $569695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/09/54 (144A) | 1465000 | &nbsp;&nbsp;&nbsp; 1523700 |
|  |  | &nbsp;&nbsp;&nbsp; 2093395 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| Hydro Quebec Interest STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/42 (CAD) (a) | 273300 | &nbsp;&nbsp;&nbsp; 94780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/42 (CAD) (a) | 273299 | &nbsp;&nbsp;&nbsp; 91874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/44 (CAD) (a) | 273299 | &nbsp;&nbsp;&nbsp; 84723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/44 (CAD) (a) | 273299 | &nbsp;&nbsp;&nbsp; 82883 |
|  |  | &nbsp;&nbsp;&nbsp; 354260 |
| **Regional Government — 0.2%** | **Regional Government — 0.2%** | **Regional Government — 0.2%** |
| Province of Ontario Generic Coupon STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 06/02/39 (CAD) (a) | 274776 | &nbsp;&nbsp;&nbsp; 110357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 06/02/42 (CAD) (a) | 274776 | &nbsp;&nbsp;&nbsp; 93935 |
| Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 12/01/55 (CAD) | 1249000 | &nbsp;&nbsp;&nbsp; 886452 |
|  |  | &nbsp;&nbsp;&nbsp; 1090744 |
| **Sovereign — 61.9%** | **Sovereign — 61.9%** | **Sovereign — 61.9%** |
| Angola Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/26/29 | 2530000 | &nbsp;&nbsp;&nbsp; 2462419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 05/09/28 | 738000 | &nbsp;&nbsp;&nbsp; 741545 |
| Argentina Republic Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 07/09/30 (b) | 2455022 | &nbsp;&nbsp;&nbsp; 1648547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 07/09/29 | 655966 | &nbsp;&nbsp;&nbsp; 475116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/09/35 (b) | 4496329 | &nbsp;&nbsp;&nbsp; 2335843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/09/38 (b) | 1411508 | &nbsp;&nbsp;&nbsp; 792562 |
| Australia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 06/21/35 (AUD) | 8277000 | &nbsp;&nbsp;&nbsp; 4805917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/21/54 (AUD) | 2678000 | &nbsp;&nbsp;&nbsp; 1714193 |
| Baiterek National Managing Holding JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 10/01/30 (144A) | 333000 | &nbsp;&nbsp;&nbsp; 328936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 05/08/28 (144A) | 210000 | &nbsp;&nbsp;&nbsp; 214030 |
| Brazil Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 05/13/54 (c) | 1886000 | &nbsp;&nbsp;&nbsp; 1910518 |
| Brazil Notas do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/50 (BRL) (d) | 3698000 | &nbsp;&nbsp;&nbsp; 2729321 |
| Bundesobligation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 10/10/30 (EUR) | 1169638 | &nbsp;&nbsp;&nbsp; 1366115 |
| Bundesrepublik Deutschland Bundesanleihe |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 05/15/41 (EUR) | 1450000 | &nbsp;&nbsp;&nbsp; 1602895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 07/04/42 (EUR) | 1761917 | &nbsp;&nbsp;&nbsp; 2108901 |
| Caisse Francaise de Financement Local SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 02/22/28 (EUR) | 800000 | &nbsp;&nbsp;&nbsp; 886828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 02/19/29 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 239811 |
| Canada Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 03/01/30 (CAD) | 3055000 | &nbsp;&nbsp;&nbsp; 2200711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 12/01/55 (CAD) | 2360000 | &nbsp;&nbsp;&nbsp; 1426989 |
| Canada Housing Trust No. 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 09/15/32 (144A) (CAD) | 6005000 | &nbsp;&nbsp;&nbsp; 4435165 |
| Chile Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/14/32 (EUR) | 127000 | &nbsp;&nbsp;&nbsp; 152306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/05/34 (EUR) | 321000 | &nbsp;&nbsp;&nbsp; 389115 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| China Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.610%, 02/15/35 (CNY) | 14460000 | &nbsp;&nbsp;&nbsp; $1990435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.110%, 08/25/34 (CNY) | 22700000 | &nbsp;&nbsp;&nbsp; 3257774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.120%, 06/25/31 (CNY) | 2690000 | &nbsp;&nbsp;&nbsp; 385879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 08/25/55 (CNY) | 12000000 | &nbsp;&nbsp;&nbsp; 1648471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.490%, 05/25/44 (CNY) | 7920000 | &nbsp;&nbsp;&nbsp; 1155104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 11/15/32 (CNY) | 33460000 | &nbsp;&nbsp;&nbsp; 5019737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/53 (CNY) | 4210000 | &nbsp;&nbsp;&nbsp; 682364 |
| Colombia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 04/22/32 | 1701000 | &nbsp;&nbsp;&nbsp; 1438195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 02/22/42 | 857000 | &nbsp;&nbsp;&nbsp; 607184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 04/25/30 | 639000 | &nbsp;&nbsp;&nbsp; 679449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/20/33 | 1285000 | &nbsp;&nbsp;&nbsp; 1398722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/14/35 | 2703000 | &nbsp;&nbsp;&nbsp; 2900319 |
| Colombia TES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/09/36 (COP) | 14910400000 | &nbsp;&nbsp;&nbsp; 2625220 |
| Costa Rica Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 11/13/54 | 900000 | &nbsp;&nbsp;&nbsp; 984908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 11/13/54 (144A) | 285000 | &nbsp;&nbsp;&nbsp; 311888 |
| Dominican Republic International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/23/32 (c) | 1066000 | &nbsp;&nbsp;&nbsp; 1017284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 01/25/27 | 1920000 | &nbsp;&nbsp;&nbsp; 1951200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/22/33 | 1323000 | &nbsp;&nbsp;&nbsp; 1351444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/48 | 354000 | &nbsp;&nbsp;&nbsp; 352301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 03/15/37 (144A) | 1848000 | &nbsp;&nbsp;&nbsp; 1972648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 04/20/27 | 1840000 | &nbsp;&nbsp;&nbsp; 1912496 |
| Eagle Funding Luxco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/17/30 (144A) | 1802000 | &nbsp;&nbsp;&nbsp; 1828237 |
| Ecuador Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 07/31/30 (b) | 1364194 | &nbsp;&nbsp;&nbsp; 1231185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 07/31/35 (b) | 2097058 | &nbsp;&nbsp;&nbsp; 1580972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 07/31/35 (144A) (b) | 1980278 | &nbsp;&nbsp;&nbsp; 1492932 |
| Egypt Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 09/30/27 | 495000 | &nbsp;&nbsp;&nbsp; 492180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/16/31 | 252000 | &nbsp;&nbsp;&nbsp; 233833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.053%, 01/15/32 | 1539000 | &nbsp;&nbsp;&nbsp; 1481088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 09/30/33 | 1594000 | &nbsp;&nbsp;&nbsp; 1506295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/31/27 | 420000 | &nbsp;&nbsp;&nbsp; 425036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 05/29/32 | 304000 | &nbsp;&nbsp;&nbsp; 298559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 02/04/30 (144A) | 711000 | &nbsp;&nbsp;&nbsp; 753673 |
| Egypt Taskeek Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 10/07/32 | 400000 | &nbsp;&nbsp;&nbsp; 399896 |
| El Salvador Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 02/28/29 | 2119000 | &nbsp;&nbsp;&nbsp; 2262435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.650%, 11/21/54 | 712000 | &nbsp;&nbsp;&nbsp; 768960 |
| European Union |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 10/05/54 (EUR) | 2644306 | &nbsp;&nbsp;&nbsp; 2772583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/04/44 (EUR) | 1313000 | &nbsp;&nbsp;&nbsp; 1590420 |
| Finland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 09/15/32 (144A) (EUR) | 892000 | &nbsp;&nbsp;&nbsp; 962953 |
| French Republic Government Bonds OAT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/25/43 (144A) (EUR) | 913278 | &nbsp;&nbsp;&nbsp; 868473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/25/35 (144A) (EUR) | 2971333 | &nbsp;&nbsp;&nbsp; 3479390 |
| Ghana Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/03/26 (144A) | 76752 | &nbsp;&nbsp;&nbsp; 74065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 01/03/30 (144A) | 236004 | &nbsp;&nbsp;&nbsp; 201915 |

---

**BHFTI-27**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Ghana Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/03/35 (b) | 1416000 | &nbsp;&nbsp;&nbsp; $1191735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/03/35 (144A) (b) | 423356 | &nbsp;&nbsp;&nbsp; 356289 |
| Guatemala Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 08/06/31 (144A) (c) | 641000 | &nbsp;&nbsp;&nbsp; 665934 |
| Hazine Mustesarligi Varlik Kiralama AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/01/30 (144A) | 1860000 | &nbsp;&nbsp;&nbsp; 1925300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.509%, 01/14/29 (144A) | 770000 | &nbsp;&nbsp;&nbsp; 839285 |
| Hungary Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/24/35 (HUF) | 1053480000 | &nbsp;&nbsp;&nbsp; 3199890 |
| Hungary Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 09/12/33 (EUR) | 418000 | &nbsp;&nbsp;&nbsp; 532889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/16/34 | 955000 | &nbsp;&nbsp;&nbsp; 970478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/16/34 (144A) (c) | 620000 | &nbsp;&nbsp;&nbsp; 630078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/26/36 | 2444000 | &nbsp;&nbsp;&nbsp; 2462652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/25/52 | 1114000 | &nbsp;&nbsp;&nbsp; 1203337 |
| Indonesia Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29 (IDR) | 49670000000 | &nbsp;&nbsp;&nbsp; 3123457 |
| Israel Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/19/30 (c) | 575000 | &nbsp;&nbsp;&nbsp; 593095 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 03/01/38 (144A) (EUR) | 897000 | &nbsp;&nbsp;&nbsp; 1002178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 07/15/31 (EUR) | 3237000 | &nbsp;&nbsp;&nbsp; 3905171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 10/30/37 (144A) (EUR) | 1387000 | &nbsp;&nbsp;&nbsp; 1686021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 03/01/34 (EUR) | 1908000 | &nbsp;&nbsp;&nbsp; 2386178 |
| Ivory Coast Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/31/32 (b) | 297219 | &nbsp;&nbsp;&nbsp; 293156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/33 | 812000 | &nbsp;&nbsp;&nbsp; 778550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/03/28 | 1032000 | &nbsp;&nbsp;&nbsp; 1046981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 01/30/33 | 1397000 | &nbsp;&nbsp;&nbsp; 1452132 |
| Jamaica Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/28/45 (c) | 573000 | &nbsp;&nbsp;&nbsp; 689336 |
| Japan Government Five Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.300%, 06/20/28 (JPY) | 1161050000 | &nbsp;&nbsp;&nbsp; 7703905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 06/20/30 (JPY) | 317600000 | &nbsp;&nbsp;&nbsp; 2125151 |
| Japan Government Forty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 03/20/63 (JPY) | 151800000 | &nbsp;&nbsp;&nbsp; 599666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 03/20/51 (JPY) | 273650000 | &nbsp;&nbsp;&nbsp; 1598841 |
| Japan Government Ten Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 06/20/35 (JPY) | 35700000 | &nbsp;&nbsp;&nbsp; 238295 |
| Japan Government Thirty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.400%, 12/20/49 (JPY) | 264800000 | &nbsp;&nbsp;&nbsp; 1025645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 09/20/50 (JPY) | 219600000 | &nbsp;&nbsp;&nbsp; 876351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 12/20/53 (JPY) | 199550000 | &nbsp;&nbsp;&nbsp; 980633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 03/20/54 (JPY) | 286450000 | &nbsp;&nbsp;&nbsp; 1476268 |
| Japan Government Twenty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 09/20/36 (JPY) | 541250000 | &nbsp;&nbsp;&nbsp; 3196883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 12/20/42 (JPY) | 541450000 | &nbsp;&nbsp;&nbsp; 3143584 |
| Japan Government Two Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 02/01/27 (JPY) | 2162700000 | &nbsp;&nbsp;&nbsp; 14594660 |
| Jordan Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/13/29 (144A) | 1196000 | &nbsp;&nbsp;&nbsp; 1247646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 01/15/28 | 617000 | &nbsp;&nbsp;&nbsp; 644003 |
| Kingdom of Belgium Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 06/22/54 (144A) (EUR) | 1167905 | &nbsp;&nbsp;&nbsp; 1175581 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Korea Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 03/10/55 (KRW) | 2256390000 | &nbsp;&nbsp;&nbsp; $1525212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/10/33 (KRW) | 2282170000 | &nbsp;&nbsp;&nbsp; 1761537 |
| Lebanon Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/27/23 (e) | 4888000 | &nbsp;&nbsp;&nbsp; 1092468 |
| Malaysia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.642%, 11/07/33 (MYR) | 6977000 | &nbsp;&nbsp;&nbsp; 1788221 |
| Mexico Bonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 02/21/36 (MXN) | 41162800 | &nbsp;&nbsp;&nbsp; 2123581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 07/31/53 (MXN) | 87814300 | &nbsp;&nbsp;&nbsp; 4169399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 02/28/30 (MXN) | 37514500 | &nbsp;&nbsp;&nbsp; 2069028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 11/20/36 (MXN) | 53101000 | &nbsp;&nbsp;&nbsp; 3137579 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/19/34 (EUR) | 465000 | &nbsp;&nbsp;&nbsp; 554268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/22/35 (c) | 1749000 | &nbsp;&nbsp;&nbsp; 1740360 |
| Morocco Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/50 | 2577000 | &nbsp;&nbsp;&nbsp; 1893342 |
| Nigeria Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/28/28 | 4870000 | &nbsp;&nbsp;&nbsp; 4774006 |
| Oman Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/28/32 | 1055000 | &nbsp;&nbsp;&nbsp; 1226081 |
| Pakistan Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/08/26 | 598000 | &nbsp;&nbsp;&nbsp; 595505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 04/08/51 | 760000 | &nbsp;&nbsp;&nbsp; 698792 |
| Panama Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.870%, 07/23/60 | 1588000 | &nbsp;&nbsp;&nbsp; 1020766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 04/01/29 (c) | 215000 | &nbsp;&nbsp;&nbsp; 244380 |
| Paraguay Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 03/30/50 | 1431000 | &nbsp;&nbsp;&nbsp; 1313257 |
| Peru Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 08/12/33 (144A) (PEN) | 5176000 | &nbsp;&nbsp;&nbsp; 1662033 |
| Republic of Austria Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 02/20/32 (144A) (EUR) | 2234000 | &nbsp;&nbsp;&nbsp; 2351225 |
| Republic of Kenya Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/22/32 | 400000 | &nbsp;&nbsp;&nbsp; 397788 |
| Republic of Poland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/25/30 (PLN) | 11328000 | &nbsp;&nbsp;&nbsp; 3069162 |
| Republic of South Africa Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/28/48 (ZAR) | 66734000 | &nbsp;&nbsp;&nbsp; 3333474 |
| Republic of South Africa Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 09/30/29 | 1501000 | &nbsp;&nbsp;&nbsp; 1484259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 11/19/54 | 635000 | &nbsp;&nbsp;&nbsp; 645030 |
| Republic of Uzbekistan International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 02/28/32 | 894000 | &nbsp;&nbsp;&nbsp; 960614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.947%, 05/25/32 (144A) | 1391000 | &nbsp;&nbsp;&nbsp; 1496309 |
| Romania Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/14/31 | 800000 | &nbsp;&nbsp;&nbsp; 710379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.624%, 05/26/30 (EUR) | 400000 | &nbsp;&nbsp;&nbsp; 451969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/27/32 | 558000 | &nbsp;&nbsp;&nbsp; 496833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/27/32 (144A) | 434000 | &nbsp;&nbsp;&nbsp; 386587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/14/51 | 868000 | &nbsp;&nbsp;&nbsp; 578315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/16/30 (144A) | 1144000 | &nbsp;&nbsp;&nbsp; 1166319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/25/34 | 400000 | &nbsp;&nbsp;&nbsp; 397233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/10/37 | 1540000 | &nbsp;&nbsp;&nbsp; 1652709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 01/17/53 | 248000 | &nbsp;&nbsp;&nbsp; 264294 |

---

**BHFTI-28**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Saudi Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/05/32 (144A) (EUR) | 368000 | &nbsp;&nbsp;&nbsp; $436227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 02/02/61 | 1407000 | &nbsp;&nbsp;&nbsp; 919650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/21/55 | 756000 | &nbsp;&nbsp;&nbsp; 544727 |
| Senegal Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/13/28 (EUR) | 740000 | &nbsp;&nbsp;&nbsp; 753899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/13/48 | 610000 | &nbsp;&nbsp;&nbsp; 378792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 06/10/31 | 1919000 | &nbsp;&nbsp;&nbsp; 1547477 |
| Serbia International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/26/33 (144A) | 262000 | &nbsp;&nbsp;&nbsp; 284222 |
| Spain Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 10/31/35 (144A) (EUR) | 4268000 | &nbsp;&nbsp;&nbsp; 4988750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 07/30/43 (144A) (EUR) | 1918000 | &nbsp;&nbsp;&nbsp; 2146914 |
| Sri Lanka Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 01/15/30 (144A) (b) | 192441 | &nbsp;&nbsp;&nbsp; 179932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 03/15/33 (144A) (b) | 1611766 | &nbsp;&nbsp;&nbsp; 1376769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 05/15/36 (144A) (b) | 367167 | &nbsp;&nbsp;&nbsp; 324025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 02/15/38 (144A) (b) | 624642 | &nbsp;&nbsp;&nbsp; 555182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/28 (144A) | 392041 | &nbsp;&nbsp;&nbsp; 374596 |
| Trinidad & Tobago Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 06/26/34 (144A) (c) | 905000 | &nbsp;&nbsp;&nbsp; 923009 |
| Turkiye Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/16/43 | 714000 | &nbsp;&nbsp;&nbsp; 529318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/13/30 (c) | 855000 | &nbsp;&nbsp;&nbsp; 833616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/26/31 | 874000 | &nbsp;&nbsp;&nbsp; 860537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/24/28 | 1008000 | &nbsp;&nbsp;&nbsp; 1026549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/03/35 | 801000 | &nbsp;&nbsp;&nbsp; 786362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 09/16/35 (c) | 343000 | &nbsp;&nbsp;&nbsp; 345222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/29/32 | 628000 | &nbsp;&nbsp;&nbsp; 653393 |
| Turkiye Ihracat Kredi Bankasi AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/03/28 (144A) | 306000 | &nbsp;&nbsp;&nbsp; 312381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 01/28/27 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 629501 |
| U.K. Gilts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 07/31/53 (GBP) | 680710 | &nbsp;&nbsp;&nbsp; 396166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/22/45 (GBP) | 1778938 | &nbsp;&nbsp;&nbsp; 1853088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/22/31 (GBP) | 1925396 | &nbsp;&nbsp;&nbsp; 2549976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/07/40 (GBP) | 1643000 | &nbsp;&nbsp;&nbsp; 1995221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 07/31/54 (GBP) | 466141 | &nbsp;&nbsp;&nbsp; 524512 |
| Ukraine Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/01/36 (b) | 445195 | &nbsp;&nbsp;&nbsp; 215955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/01/36 (144A) (b) | 107448 | &nbsp;&nbsp;&nbsp; 52126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/35 (b) | 2125487 | &nbsp;&nbsp;&nbsp; 1030586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/29 (b) | 618707 | &nbsp;&nbsp;&nbsp; 425369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/34 (b) | 1085203 | &nbsp;&nbsp;&nbsp; 610923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/35 (b) | 788561 | &nbsp;&nbsp;&nbsp; 435359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/35 (144A) (b) | 298989 | &nbsp;&nbsp;&nbsp; 165081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/36 (b) | 429359 | &nbsp;&nbsp;&nbsp; 233679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/36 (144A) (b) | 190250 | &nbsp;&nbsp;&nbsp; 103550 |
| Venezuela Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 09/15/27 (e) | 4149000 | &nbsp;&nbsp;&nbsp; 996175 |
| Zambia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/31/53 (b) | 517862 | &nbsp;&nbsp;&nbsp; 348896 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Zambia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/30/33 (b) | 461089 | &nbsp;&nbsp;&nbsp; $440516 |
|  |  | &nbsp;&nbsp;&nbsp; 252197661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $257,578,818) <br>|  | &nbsp;&nbsp;&nbsp; 255736060 |
| **Corporate Bonds & Notes—30.9%** | **Corporate Bonds & Notes—30.9%** | **Corporate Bonds & Notes—30.9%** |
| **Agriculture — 0.5%** | **Agriculture — 0.5%** | **Agriculture — 0.5%** |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 06/15/31 (EUR) | 560000 | &nbsp;&nbsp;&nbsp; 649903 |
| BAT International Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/12/32 (EUR) | 544000 | &nbsp;&nbsp;&nbsp; 659618 |
| Imperial Brands Finance Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/31 (EUR) | 443000 | &nbsp;&nbsp;&nbsp; 564429 |
|  |  | &nbsp;&nbsp;&nbsp; 1873950 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| JetBlue Airways Corp./JetBlue Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 09/20/31 (144A) | 331000 | &nbsp;&nbsp;&nbsp; 335724 |
| **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** |
| Ford Credit Canada Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.382%, 11/10/28 (CAD) | 756000 | &nbsp;&nbsp;&nbsp; 572386 |
| General Motors Financial of Canada Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 07/14/28 (CAD) | 648000 | &nbsp;&nbsp;&nbsp; 485867 |
| Hyundai Capital Canada, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.583%, 07/24/29 (CAD) | 709000 | &nbsp;&nbsp;&nbsp; 529863 |
|  |  | &nbsp;&nbsp;&nbsp; 1588116 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| LG Energy Solution Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 04/02/30 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 337792 |
| **Banks — 7.4%** | **Banks — 7.4%** | **Banks — 7.4%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5Y EUR Swap + 3.898%, 09/22/27 (EUR) (f) | 400000 | &nbsp;&nbsp;&nbsp; 471734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5Y EUR Swap + 2.450%, 09/21/33 (EUR) (f) | 300000 | &nbsp;&nbsp;&nbsp; 374171 |
| Akbank TAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.498%, 01/20/30 (144A) | 340000 | &nbsp;&nbsp;&nbsp; 356742 |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 5Y UKG + 3.600%, 11/30/33 (GBP) (f) | 300000 | &nbsp;&nbsp;&nbsp; 437898 |
| Banco Nacional de Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/11/30 | 506000 | &nbsp;&nbsp;&nbsp; 443377 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/18/31 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 255211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5Y EUR Swap + 2.850%, 08/23/33 (EUR) (f) | 400000 | &nbsp;&nbsp;&nbsp; 500671 |
| Bank Leumi Le-Israel BM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.129%, 5Y H15 + 3.466%, 07/18/33 (144A) (f) | 341000 | &nbsp;&nbsp;&nbsp; 355492 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.667%, 1Y UKG + 1.100%, 06/02/29 (GBP) (f) | 220000 | &nbsp;&nbsp;&nbsp; 274713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.261%, 3M EURIBOR + 0.900%, 01/28/31 (EUR) (f) | 170000 | &nbsp;&nbsp;&nbsp; 201325 |
| Bank of East Asia Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5Y H15 + 2.300%, 04/22/32 (f) | 410000 | &nbsp;&nbsp;&nbsp; 409227 |

---

**BHFTI-29**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Bank of Ireland Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y EUR Swap + 1.550%, 11/13/29 (EUR) (f) | 691000 | &nbsp;&nbsp;&nbsp; $855773 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.976%, 07/03/34 (CAD) | 444000 | &nbsp;&nbsp;&nbsp; 334223 |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 08/01/34 (CAD) | 444000 | &nbsp;&nbsp;&nbsp; 333882 |
| Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5Y EUR Swap + 2.200%, 06/16/32 (EUR) (f) | 300000 | &nbsp;&nbsp;&nbsp; 357248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/25/28 (GBP) | 200000 | &nbsp;&nbsp;&nbsp; 273385 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.262%, 1Y EUR Swap + 2.550%, 01/29/34 (EUR) (f) | 210000 | &nbsp;&nbsp;&nbsp; 272015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y UKG + 6.016%, 12/15/25 (GBP) (f) | 386000 | &nbsp;&nbsp;&nbsp; 519650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.090%, 1Y GBP Swap + 2.553%, 11/06/29 (GBP) (f) | 100000 | &nbsp;&nbsp;&nbsp; 143297 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5Y UKG + 1.650%, 05/24/31 (GBP) (f) | 200000 | &nbsp;&nbsp;&nbsp; 264029 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1Y GBP Swap + 2.650%, 09/29/28 (GBP) (f) | 200000 | &nbsp;&nbsp;&nbsp; 275183 |
| Caixa Economica Federal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 05/13/30 (144A) | 378000 | &nbsp;&nbsp;&nbsp; 383160 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1Y UKG + 2.100%, 04/06/28 (GBP) (f) | 400000 | &nbsp;&nbsp;&nbsp; 530002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y UKG + 3.700%, 10/25/33 (GBP) (f) | 100000 | &nbsp;&nbsp;&nbsp; 140506 |
| Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 04/30/29 (EUR) | 400000 | &nbsp;&nbsp;&nbsp; 428937 |
| Cie de Financement Foncier SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 03/05/30 (EUR) | 400000 | &nbsp;&nbsp;&nbsp; 468130 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/23/26 (GBP) | 408000 | &nbsp;&nbsp;&nbsp; 532909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 5Y H15 + 3.211%, 11/15/28 (f) | 55000 | &nbsp;&nbsp;&nbsp; 57742 |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 02/28/28 (EUR) | 235000 | &nbsp;&nbsp;&nbsp; 265459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 02/19/29 (EUR) | 540000 | &nbsp;&nbsp;&nbsp; 600467 |
| Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.620%, 3M BBSW + 0.910%, 07/17/29 (AUD) (f) | 1260000 | &nbsp;&nbsp;&nbsp; 839261 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.364%, 06/01/28 (AUD) | 1290000 | &nbsp;&nbsp;&nbsp; 875061 |
| Danske Bank AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1Y UKG + 1.650%, 01/14/28 (GBP) (f) | 280000 | &nbsp;&nbsp;&nbsp; 365737 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3M EURIBOR + 1.500%, 04/04/30 (EUR) (f) | 100000 | &nbsp;&nbsp;&nbsp; 121355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3M EURIBOR + 2.950%, 09/05/30 (EUR) (f) | 500000 | &nbsp;&nbsp;&nbsp; 626324 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.856%, 3M EURIBOR + 1.943%, 05/23/33 (EUR) (f) | 163000 | &nbsp;&nbsp;&nbsp; 207118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.364%, 5Y EUR Swap + 3.300%, 11/16/32 (EUR) (f) | 499000 | &nbsp;&nbsp;&nbsp; 626335 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5Y EUR Swap + 1.800%, 05/20/36 (EUR) (f) | 200000 | &nbsp;&nbsp;&nbsp; 240479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5Y EUR Swap + 2.500%, 08/24/33 (EUR) (f) | 200000 | &nbsp;&nbsp;&nbsp; 240748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/05/29 (AUD) | 600000 | &nbsp;&nbsp;&nbsp; 395019 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.148%, 06/10/30 (GBP) | 360000 | &nbsp;&nbsp;&nbsp; 481102 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.457%, 3M EURIBOR + 1.280%, 11/13/31 (EUR) (f) | 678000 | &nbsp;&nbsp;&nbsp; 847269 |
| KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5Y EUR Swap + 2.250%, 04/25/33 (EUR) (f) | 600000 | &nbsp;&nbsp;&nbsp; 733398 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1Y EUR Swap + 1.600%, 09/21/31 (EUR) (f) | 370000 | &nbsp;&nbsp;&nbsp; 465766 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5Y UKG + 3.100%, 06/02/33 (GBP) (f) | 235000 | &nbsp;&nbsp;&nbsp; $327516 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.521%, 3M EURIBOR + 1.315%, 05/22/31 (EUR) (f) | 710000 | &nbsp;&nbsp;&nbsp; 847916 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.763%, 5Y EUR Swap + 2.600%, 02/28/34 (EUR) (f) | 582000 | &nbsp;&nbsp;&nbsp; 734569 |
| Santander U.K. Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.098%, 1Y GBP Swap + 2.866%, 11/16/27 (GBP) (f) | 345000 | &nbsp;&nbsp;&nbsp; 476329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.482%, 1Y GBP Swap + 2.371%, 08/29/29 (GBP) (f) | 107000 | &nbsp;&nbsp;&nbsp; 153994 |
| Santander U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/12/29 (EUR) | 320000 | &nbsp;&nbsp;&nbsp; 380982 |
| Shinhan Financial Group Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5Y H15 + 2.064%, 05/12/26 (f) | 201000 | &nbsp;&nbsp;&nbsp; 197969 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3M EURIBOR + 1.900%, 11/21/31 (EUR) (f) | 600000 | &nbsp;&nbsp;&nbsp; 751898 |
| Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.874%, 1Y EUR Swap + 1.850%, 05/10/31 (EUR) (f) | 340000 | &nbsp;&nbsp;&nbsp; 427598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.082%, 3M TSFR + 1.772%, 01/30/27 (144A) (f) | 400000 | &nbsp;&nbsp;&nbsp; 386622 |
| Svenska Handelsbanken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5Y EUR Swap + 1.900%, 08/16/34 (EUR) (f) | 500000 | &nbsp;&nbsp;&nbsp; 623528 |
| Swedbank AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5Y EUR Swap + 2.150%, 08/23/32 (EUR) (f) | 534000 | &nbsp;&nbsp;&nbsp; 635544 |
| TC Ziraat Bankasi AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 01/16/29 | 1365000 | &nbsp;&nbsp;&nbsp; 1430283 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.191%, 02/16/29 (EUR) | 430000 | &nbsp;&nbsp;&nbsp; 514990 |
| Turkiye Vakiflar Bankasi TAO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 10/12/28 (144A) | 375000 | &nbsp;&nbsp;&nbsp; 403918 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 1Y EUR Swap + 4.950%, 03/01/29 (EUR) (f) | 486000 | &nbsp;&nbsp;&nbsp; 636092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 5Y H15 + 4.745%, 11/13/28 (144A) (f) | 243000 | &nbsp;&nbsp;&nbsp; 267668 |
| UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 3M EURIBOR + 1.400%, 01/16/33 (EUR) (f) | 262000 | &nbsp;&nbsp;&nbsp; 313625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 5Y EUR Swap + 2.800%, 04/16/34 (EUR) (f) | 285000 | &nbsp;&nbsp;&nbsp; 355213 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.741%, 3M EURIBOR + 1.850%, 05/04/30 (EUR) (f) | 549000 | &nbsp;&nbsp;&nbsp; 618937 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 09/22/28 (EUR) | 479000 | &nbsp;&nbsp;&nbsp; 523064 |
| Woori Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y H15 + 2.277%, 07/24/29 (144A) (f) | 228000 | &nbsp;&nbsp;&nbsp; 237361 |
| Yapi ve Kredi Bankasi AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/03/30 (144A) | 400000 | &nbsp;&nbsp;&nbsp; 410343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/16/28 (144A) | 390000 | &nbsp;&nbsp;&nbsp; 424556 |
|  |  | &nbsp;&nbsp;&nbsp; 30262045 |
| **Beverages — 0.2%** | **Beverages — 0.2%** | **Beverages — 0.2%** |
| Anadolu Efes Biracilik Ve Malt Sanayii AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 06/29/28 | 431000 | &nbsp;&nbsp;&nbsp; 400444 |
| Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 06/15/32 (EUR) | 390000 | &nbsp;&nbsp;&nbsp; 467279 |
|  |  | &nbsp;&nbsp;&nbsp; 867723 |
| **Building Materials — 0.0%** | **Building Materials — 0.0%** | **Building Materials — 0.0%** |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 12/15/30 (EUR) | 180000 | &nbsp;&nbsp;&nbsp; 220783 |

---

**BHFTI-30**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Chemicals — 1.1%** | **Chemicals — 1.1%** | **Chemicals — 1.1%** |
| Braskem Idesa SAPI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.990%, 02/20/32 (144A) | 292000 | &nbsp;&nbsp;&nbsp; $173312 |
| Braskem Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/10/28 | 1643000 | &nbsp;&nbsp;&nbsp; 707558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/31/30 | 286000 | &nbsp;&nbsp;&nbsp; 107450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 01/12/31 | 344000 | &nbsp;&nbsp;&nbsp; 134160 |
| GC Treasury Center Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 2.815%, 09/10/30 (144A) (f) | 275000 | &nbsp;&nbsp;&nbsp; 278469 |
| INEOS Quattro Finance 2 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/15/29 (EUR) | 285000 | &nbsp;&nbsp;&nbsp; 334508 |
| OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/02/54 (144A) | 470000 | &nbsp;&nbsp;&nbsp; 520982 |
| Orbia Advance Corp. SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/11/31 | 400000 | &nbsp;&nbsp;&nbsp; 341991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 05/13/30 (144A) (c) | 200000 | &nbsp;&nbsp;&nbsp; 208000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/13/35 (144A) (c) | 247000 | &nbsp;&nbsp;&nbsp; 259844 |
| Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/03/29 | 449000 | &nbsp;&nbsp;&nbsp; 465770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/03/29 (144A) | 285000 | &nbsp;&nbsp;&nbsp; 295645 |
| Sociedad Quimica y Minera de Chile SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/10/34 (144A) (c) | 355000 | &nbsp;&nbsp;&nbsp; 358550 |
| UPL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/08/28 | 325000 | &nbsp;&nbsp;&nbsp; 315197 |
|  |  | &nbsp;&nbsp;&nbsp; 4501436 |
| **Coal — 0.1%** | **Coal — 0.1%** | **Coal — 0.1%** |
| Indika Energy Tbk. PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/07/29 (144A) | 355000 | &nbsp;&nbsp;&nbsp; 355787 |
| **Commercial Services — 0.8%** | **Commercial Services — 0.8%** | **Commercial Services — 0.8%** |
| Adani Ports & Special Economic Zone Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 02/02/31 | 350000 | &nbsp;&nbsp;&nbsp; 311559 |
| Bidvest Group U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 09/17/32 (144A) | 280000 | &nbsp;&nbsp;&nbsp; 281797 |
| Boels Topholding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/29 (EUR) | 307000 | &nbsp;&nbsp;&nbsp; 372214 |
| DP World Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/25/48 | 600000 | &nbsp;&nbsp;&nbsp; 590131 |
| Fiserv Funding ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/15/32 (EUR) | 295000 | &nbsp;&nbsp;&nbsp; 345486 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/17/31 (EUR) | 455000 | &nbsp;&nbsp;&nbsp; 561229 |
| Q-Park Holding I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/27 (EUR) | 206000 | &nbsp;&nbsp;&nbsp; 238685 |
| TransJamaican Highway Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/10/36 | 505346 | &nbsp;&nbsp;&nbsp; 478260 |
|  |  | &nbsp;&nbsp;&nbsp; 3179361 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| Almaviva-The Italian Innovation Co. SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/30/30 (EUR) | 298000 | &nbsp;&nbsp;&nbsp; 355408 |
| **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** |
| Natura &Co. Luxembourg Holdings SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 05/03/28 | 795000 | &nbsp;&nbsp;&nbsp; 762021 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |
| Telecommunications Co. Telekom Srbija AD Belgrade |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/28/29 (144A) | 283000 | &nbsp;&nbsp;&nbsp; $287090 |
| **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 06/01/28 (CAD) | 588000 | &nbsp;&nbsp;&nbsp; 442198 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.433%, 3M EURIBOR + 1.102%, 05/20/32 (EUR) (f) | 275000 | &nbsp;&nbsp;&nbsp; 325235 |
| BPCE SFH SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 01/29/29 (EUR) | 700000 | &nbsp;&nbsp;&nbsp; 757003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 05/27/30 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 207167 |
| Caisse de Refinancement de l'Habitat SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 10/08/29 (EUR) | 600000 | &nbsp;&nbsp;&nbsp; 635115 |
| Credicorp Capital Sociedad Titulizadora SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.100%, 12/15/43 (144A) (PEN) | 3100000 | &nbsp;&nbsp;&nbsp; 955343 |
| Credit Agricole Home Loan SFH SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 08/31/27 (EUR) | 800000 | &nbsp;&nbsp;&nbsp; 914289 |
| Credit Mutuel Home Loan SFH SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 04/20/29 (EUR) | 400000 | &nbsp;&nbsp;&nbsp; 480485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/31/29 (EUR) | 300000 | &nbsp;&nbsp;&nbsp; 360610 |
| Muthoot Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/02/30 (144A) (c) | 458000 | &nbsp;&nbsp;&nbsp; 465386 |
| Societe Generale SFH SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 05/05/28 (EUR) | 600000 | &nbsp;&nbsp;&nbsp; 685522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 07/31/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120552 |
| Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 05/15/28 (EUR) | 361000 | &nbsp;&nbsp;&nbsp; 421840 |
|  |  | &nbsp;&nbsp;&nbsp; 6770745 |
| **Electric — 2.5%** | **Electric — 2.5%** | **Electric — 2.5%** |
| AES Panama Generation Holdings SRL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/31/30 | 390448 | &nbsp;&nbsp;&nbsp; 368973 |
| Chile Electricity Lux MPC II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.580%, 10/20/35 (144A) | 586503 | &nbsp;&nbsp;&nbsp; 605728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.672%, 10/20/35 (144A) (c) | 480000 | &nbsp;&nbsp;&nbsp; 494687 |
| Cometa Energia SA de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/24/35 | 16 | &nbsp;&nbsp;&nbsp; 17 |
| Comision Ejecutiva Hidroelectrica del Rio Lempa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.650%, 01/24/33 | 240000 | &nbsp;&nbsp;&nbsp; 250896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.650%, 01/24/33 (144A) (c) | 860000 | &nbsp;&nbsp;&nbsp; 899044 |
| Comision Federal de Electricidad |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/29/36 | 664000 | &nbsp;&nbsp;&nbsp; 600851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 01/24/30 | 200000 | &nbsp;&nbsp;&nbsp; 203000 |
| Diamond II Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 07/28/26 | 230000 | &nbsp;&nbsp;&nbsp; 231582 |
| E.ON International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/07/32 (GBP) | 380000 | &nbsp;&nbsp;&nbsp; 544349 |
| EDP Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/11/30 (EUR) | 300000 | &nbsp;&nbsp;&nbsp; 365269 |
| EDP Servicios Financieros Espana SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/16/30 (EUR) | 107000 | &nbsp;&nbsp;&nbsp; 128151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/21/31 (EUR) | 130000 | &nbsp;&nbsp;&nbsp; 155167 |
| Empresas Publicas de Medellin ESP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/18/29 (144A) | 592000 | &nbsp;&nbsp;&nbsp; 561294 |
| Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/20/31 (EUR) | 365000 | &nbsp;&nbsp;&nbsp; 447854 |

---

**BHFTI-31**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Iberdrola Finanzas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.247%, 5Y EUR Swap + 1.983%, 05/28/30 (EUR) (f) | 500000 | &nbsp;&nbsp;&nbsp; $598557 |
| India Clean Energy Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/18/27 (144A) | 265000 | &nbsp;&nbsp;&nbsp; 258811 |
| Investment Energy Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/26/29 | 245000 | &nbsp;&nbsp;&nbsp; 244015 |
| Limak Yenilenebilir Enerji AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 08/12/30 (144A) | 220000 | &nbsp;&nbsp;&nbsp; 218845 |
| Minejesa Capital BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/10/30 | 179800 | &nbsp;&nbsp;&nbsp; 178147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/10/37 | 225000 | &nbsp;&nbsp;&nbsp; 223313 |
| National Grid Electricity Distribution PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/16/26 (GBP) | 451000 | &nbsp;&nbsp;&nbsp; 600419 |
| National Grid PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.553%, 09/18/29 (EUR) | 134000 | &nbsp;&nbsp;&nbsp; 143339 |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/30/50 | 582000 | &nbsp;&nbsp;&nbsp; 430617 |
| Saavi Energia SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/10/35 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 355146 |
| Sorik Marapi Geothermal Power PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 08/05/31 (144A) | 220869 | &nbsp;&nbsp;&nbsp; 226314 |
| SSE PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/20/28 (GBP) | 158000 | &nbsp;&nbsp;&nbsp; 235246 |
| Trinidad Generation Unlimited |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 06/16/33 (144A) | 211000 | &nbsp;&nbsp;&nbsp; 221727 |
| Zorlu Enerji Elektrik Uretim AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 04/23/30 | 340000 | &nbsp;&nbsp;&nbsp; 312635 |
|  |  | &nbsp;&nbsp;&nbsp; 10103993 |
| **Energy-Alternate Sources — 0.3%** | **Energy-Alternate Sources — 0.3%** | **Energy-Alternate Sources — 0.3%** |
| Greenko Dutch BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 03/29/26 | 346000 | &nbsp;&nbsp;&nbsp; 342395 |
| Greenko Wind Projects Mauritius Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 09/27/28 (144A) | 308000 | &nbsp;&nbsp;&nbsp; 313621 |
| UEP Penonome II SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/38 | 468010 | &nbsp;&nbsp;&nbsp; 417760 |
|  |  | &nbsp;&nbsp;&nbsp; 1073776 |
| **Engineering & Construction — 0.4%** | **Engineering & Construction — 0.4%** | **Engineering & Construction — 0.4%** |
| Heathrow Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 12/10/33 (GBP) | 435000 | &nbsp;&nbsp;&nbsp; 622856 |
| IHS Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 11/29/31 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 346531 |
| IRB Infrastructure Developers Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.110%, 03/11/32 | 220000 | &nbsp;&nbsp;&nbsp; 228486 |
| TAV Havalimanlari Holding AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 12/07/28 (144A) | 375000 | &nbsp;&nbsp;&nbsp; 391662 |
|  |  | &nbsp;&nbsp;&nbsp; 1589535 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/04/31 (144A) (EUR) | 283000 | &nbsp;&nbsp;&nbsp; 332954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/04/31 (144A) (GBP) | 154000 | &nbsp;&nbsp;&nbsp; 208731 |
| GENM Capital Labuan Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.882%, 04/19/31 | 400000 | &nbsp;&nbsp;&nbsp; 368053 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Entertainment—(Continued)** | **Entertainment—(Continued)** | **Entertainment—(Continued)** |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.279%, 03/15/32 (c) | 53000 | &nbsp;&nbsp;&nbsp; $48561 |
|  |  | &nbsp;&nbsp;&nbsp; 958299 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| Ambipar Lux SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.875%, 02/05/33 (e) | 248000 | &nbsp;&nbsp;&nbsp; 41071 |
| Luna 2 5SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/32 (144A) (EUR) | 179000 | &nbsp;&nbsp;&nbsp; 213806 |
|  |  | &nbsp;&nbsp;&nbsp; 254877 |
| **Food — 0.4%** | **Food — 0.4%** | **Food — 0.4%** |
| General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/17/32 (EUR) | 579000 | &nbsp;&nbsp;&nbsp; 686123 |
| Loblaw Cos. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.540%, 02/17/33 (144A) (CAD) | 604000 | &nbsp;&nbsp;&nbsp; 501563 |
| Nestle Finance International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 05/29/35 (CNY) | 2440000 | &nbsp;&nbsp;&nbsp; 347484 |
|  |  | &nbsp;&nbsp;&nbsp; 1535170 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Celulosa Arauco y Constitucion SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.180%, 05/05/32 (144A) | 259000 | &nbsp;&nbsp;&nbsp; 270267 |
| Inversiones CMPC SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 5Y H15 + 2.834%, 12/09/57 (144A) (c) (f) | 276000 | &nbsp;&nbsp;&nbsp; 281934 |
| Sappi Papier Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/15/32 (EUR) | 190000 | &nbsp;&nbsp;&nbsp; 220048 |
|  |  | &nbsp;&nbsp;&nbsp; 772249 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| Cadent Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/16/33 (EUR) | 458000 | &nbsp;&nbsp;&nbsp; 541820 |
| National Grid North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.631%, 09/03/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119939 |
|  |  | &nbsp;&nbsp;&nbsp; 661759 |
| **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/30/28 (GBP) | 360000 | &nbsp;&nbsp;&nbsp; 443150 |
| **Internet — 0.6%** | **Internet — 0.6%** | **Internet — 0.6%** |
| Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 11/28/29 (CNY) | 4500000 | &nbsp;&nbsp;&nbsp; 647964 |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/06/29 (EUR) | 271000 | &nbsp;&nbsp;&nbsp; 317499 |
| Baidu, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 03/12/30 (CNY) | 3330000 | &nbsp;&nbsp;&nbsp; 476570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/12/35 (CNY) | 1330000 | &nbsp;&nbsp;&nbsp; 193002 |
| Booking Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31 (EUR) | 338000 | &nbsp;&nbsp;&nbsp; 425482 |
| Prosus NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.832%, 02/08/51 | 480000 | &nbsp;&nbsp;&nbsp; 324480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.987%, 01/19/52 | 200000 | &nbsp;&nbsp;&nbsp; 161511 |
|  |  | &nbsp;&nbsp;&nbsp; 2546508 |

---

**BHFTI-32**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Investment Companies — 0.2%** | **Investment Companies — 0.2%** | **Investment Companies — 0.2%** |
| Gaci First Investment Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/13/2122 | 400000 | &nbsp;&nbsp;&nbsp; $351844 |
| Temasek Financial I Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/28/34 (CNY) | 1000000 | &nbsp;&nbsp;&nbsp; 145397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 08/28/54 (CNY) | 3430000 | &nbsp;&nbsp;&nbsp; 515576 |
|  |  | &nbsp;&nbsp;&nbsp; 1012817 |
| **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** |
| CSN Inova Ventures |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/28/28 | 325000 | &nbsp;&nbsp;&nbsp; 315326 |
| Eregli Demir ve Celik Fabrikalari TAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/23/29 | 320000 | &nbsp;&nbsp;&nbsp; 333820 |
| JSW Steel Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 04/05/27 | 330000 | &nbsp;&nbsp;&nbsp; 323980 |
|  |  | &nbsp;&nbsp;&nbsp; 973126 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| Melco Resorts Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/24/33 (144A) | 280000 | &nbsp;&nbsp;&nbsp; 280221 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Globo Comunicacao e Participacoes SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/14/32 | 248000 | &nbsp;&nbsp;&nbsp; 239995 |
| Grupo Televisa SAB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/30/26 | 360000 | &nbsp;&nbsp;&nbsp; 357252 |
|  |  | &nbsp;&nbsp;&nbsp; 597247 |
| **Mining — 1.5%** | **Mining — 1.5%** | **Mining — 1.5%** |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 01/30/50 (c) | 555000 | &nbsp;&nbsp;&nbsp; 392597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 01/08/34 | 1740000 | &nbsp;&nbsp;&nbsp; 1826833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 01/08/34 (144A) | 1144000 | &nbsp;&nbsp;&nbsp; 1201090 |
| Glencore Capital Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/04/32 (EUR) | 651000 | &nbsp;&nbsp;&nbsp; 772838 |
| Navoi Mining & Metallurgical Combinat |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 10/17/28 (144A) | 245000 | &nbsp;&nbsp;&nbsp; 254707 |
| Stillwater Mining Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/16/26 | 575000 | &nbsp;&nbsp;&nbsp; 567545 |
| Vedanta Resources Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.875%, 09/17/29 (144A) | 355000 | &nbsp;&nbsp;&nbsp; 371580 |
| Volcan Cia Minera SAA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 01/24/30 (144A) | 664000 | &nbsp;&nbsp;&nbsp; 690427 |
|  |  | &nbsp;&nbsp;&nbsp; 6077617 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 03/01/30 (EUR) | 326000 | &nbsp;&nbsp;&nbsp; 381311 |
| **Oil & Gas — 5.8%** | **Oil & Gas — 5.8%** | **Oil & Gas — 5.8%** |
| Bapco Energies BSC Closed |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/25/27 | 1276000 | &nbsp;&nbsp;&nbsp; 1323812 |
| BP Capital Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5Y EUR Swap + 3.520%, 03/22/26 (EUR) (f) | 234000 | &nbsp;&nbsp;&nbsp; 275001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5Y EUR Swap + 3.780%, 03/22/29 (EUR) (f) | 301000 | &nbsp;&nbsp;&nbsp; 353383 |
| Canacol Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/24/28 | 425000 | &nbsp;&nbsp;&nbsp; 146094 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** |
| Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 05/28/45 (c) | 475000 | &nbsp;&nbsp;&nbsp; $363293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/19/36 (c) | 546000 | &nbsp;&nbsp;&nbsp; 563900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 01/19/29 (c) | 2407000 | &nbsp;&nbsp;&nbsp; 2613652 |
| Empresa Nacional del Petroleo |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/14/47 | 1375000 | &nbsp;&nbsp;&nbsp; 1141594 |
| Gran Tierra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 10/15/29 (144A) (c) | 419000 | &nbsp;&nbsp;&nbsp; 354555 |
| Leviathan Bond Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 06/30/30 (144A) | 246793 | &nbsp;&nbsp;&nbsp; 247410 |
| Medco Cypress Tree Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 05/19/30 (144A) | 310000 | &nbsp;&nbsp;&nbsp; 326892 |
| Pertamina Persero PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 02/09/31 | 995000 | &nbsp;&nbsp;&nbsp; 881910 |
| Petrobras Global Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/10/30 | 684000 | &nbsp;&nbsp;&nbsp; 676024 |
| Petroleos de Venezuela SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 04/12/27 (e) | 987800 | &nbsp;&nbsp;&nbsp; 158542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/26 (e) | 2005965 | &nbsp;&nbsp;&nbsp; 321957 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/27/44 | 790000 | &nbsp;&nbsp;&nbsp; 607431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/23/46 | 1563000 | &nbsp;&nbsp;&nbsp; 1188900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 02/12/48 (c) | 1749000 | &nbsp;&nbsp;&nbsp; 1388980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/23/45 | 1940000 | &nbsp;&nbsp;&nbsp; 1576851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/23/29 | 1620000 | &nbsp;&nbsp;&nbsp; 1647540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/04/26 (c) | 1549000 | &nbsp;&nbsp;&nbsp; 1568883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.690%, 01/23/50 | 149000 | &nbsp;&nbsp;&nbsp; 135473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 06/02/29 | 935000 | &nbsp;&nbsp;&nbsp; 1007166 |
| Petronas Capital Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.404%, 04/28/61 | 1734000 | &nbsp;&nbsp;&nbsp; 1195806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.340%, 04/03/35 (144A) (c) | 1870000 | &nbsp;&nbsp;&nbsp; 1950486 |
| Raizen Fuels Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 01/17/35 | 200000 | &nbsp;&nbsp;&nbsp; 184220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 02/25/37 (144A) | 440000 | &nbsp;&nbsp;&nbsp; 427625 |
| TotalEnergies SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5Y EUR Swap + 1.993%, 10/25/27 (EUR) (f) | 478000 | &nbsp;&nbsp;&nbsp; 541793 |
| Wintershall Dea Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.823%, 09/25/31 (EUR) | 600000 | &nbsp;&nbsp;&nbsp; 626984 |
|  |  | &nbsp;&nbsp;&nbsp; 23796157 |
| **Pharmaceuticals — 0.0%** | **Pharmaceuticals — 0.0%** | **Pharmaceuticals — 0.0%** |
| Pfizer Netherlands International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/19/29 (EUR) | 184000 | &nbsp;&nbsp;&nbsp; 217299 |
| **Pipelines — 0.1%** | **Pipelines — 0.1%** | **Pipelines — 0.1%** |
| Acu Petroleo Luxembourg SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/13/35 (144A) | 354562 | &nbsp;&nbsp;&nbsp; 359814 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| Port of Spain Waterfront Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 02/19/40 (144A) | 1063333 | &nbsp;&nbsp;&nbsp; 1079283 |
| Prologis International Funding II SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 06/17/32 (EUR) | 191000 | &nbsp;&nbsp;&nbsp; 199933 |
| Swire Properties MTN Financing Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 09/03/29 (CNY) | 2810000 | &nbsp;&nbsp;&nbsp; 403497 |
|  |  | &nbsp;&nbsp;&nbsp; 1682713 |

---

**BHFTI-33**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate Investment Trusts — 0.6%** | **Real Estate Investment Trusts — 0.6%** | **Real Estate Investment Trusts — 0.6%** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 05/21/29 (EUR) | 197000 | &nbsp;&nbsp;&nbsp; $215060 |
| CIBANCO SA Institucion de Banca Multiple Trust CIB/3332 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 07/22/31 | 280000 | &nbsp;&nbsp;&nbsp; 242205 |
| Digital Dutch Finco BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 01/15/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 100950 |
| Digital Intrepid Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 07/18/32 (EUR) | 543000 | &nbsp;&nbsp;&nbsp; 553463 |
| Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.869%, 01/15/30 | 1088000 | &nbsp;&nbsp;&nbsp; 1066624 |
| Westfield America Management Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 03/30/29 (GBP) | 195000 | &nbsp;&nbsp;&nbsp; 242524 |
|  |  | &nbsp;&nbsp;&nbsp; 2420826 |
| **Savings & Loans — 0.5%** | **Savings & Loans — 0.5%** | **Savings & Loans — 0.5%** |
| Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 05/31/28 (EUR) | 1000000 | &nbsp;&nbsp;&nbsp; 1135203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5Y EUR Swap + 1.850%, 07/30/35 (EUR) (f) | 224000 | &nbsp;&nbsp;&nbsp; 267059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.178%, 1Y GBP Swap + 2.213%, 12/07/27 (GBP) (f) | 435000 | &nbsp;&nbsp;&nbsp; 595708 |
|  |  | &nbsp;&nbsp;&nbsp; 1997970 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/24/31 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 247726 |
| **Telecommunications — 0.7%** | **Telecommunications — 0.7%** | **Telecommunications — 0.7%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 01/19/26 (AUD) | 1530000 | &nbsp;&nbsp;&nbsp; 1011945 |
| Bell Telephone Co. of Canada or Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/14/55 (CAD) | 153000 | &nbsp;&nbsp;&nbsp; 110503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/10/32 (CAD) | 671000 | &nbsp;&nbsp;&nbsp; 534500 |
| Fibercop SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/30/30 (EUR) | 217000 | &nbsp;&nbsp;&nbsp; 258779 |
| Sable International Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 10/15/32 (144A) (c) | 365000 | &nbsp;&nbsp;&nbsp; 370617 |
| TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/08/33 (CAD) | 726000 | &nbsp;&nbsp;&nbsp; 574785 |
|  |  | &nbsp;&nbsp;&nbsp; 2861129 |
| **Transportation — 2.1%** | **Transportation — 2.1%** | **Transportation — 2.1%** |
| Empresa de Transporte de Pasajeros Metro SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 05/07/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 195242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/25/47 | 200000 | &nbsp;&nbsp;&nbsp; 181970 |
| FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/30/32 (EUR) | 176000 | &nbsp;&nbsp;&nbsp; 206118 |
| Lima Metro Line 2 Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 04/05/36 | 798512 | &nbsp;&nbsp;&nbsp; 770576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/05/34 | 564764 | &nbsp;&nbsp;&nbsp; 582938 |
| MTR Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 09/20/54 (CNY) | 4650000 | &nbsp;&nbsp;&nbsp; 686741 |
| SNCF Reseau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 05/25/30 (EUR) | 4100000 | &nbsp;&nbsp;&nbsp; 4440546 |
| Transnet |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 02/06/28 | 1633000 | &nbsp;&nbsp;&nbsp; 1722664 |
|  |  | &nbsp;&nbsp;&nbsp; 8786795 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Water — 0.6%** | **Water — 0.6%** | **Water — 0.6%** |
| Aegea Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 01/20/36 (144A) | 280000 | &nbsp;&nbsp;&nbsp; $278572 |
| Anglian Water Services Financing PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/20/31 (GBP) | 225000 | &nbsp;&nbsp;&nbsp; 310689 |
| Holding d'Infrastructures des Metiers de l'Environnement SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/24/29 (EUR) | 180000 | &nbsp;&nbsp;&nbsp; 219189 |
| Suez SACA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/13/33 (EUR) | 500000 | &nbsp;&nbsp;&nbsp; 619161 |
| United Utilities Water Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/27/33 (EUR) | 700000 | &nbsp;&nbsp;&nbsp; 816586 |
| Veolia Environnement SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 09/21/32 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 209644 |
|  |  | &nbsp;&nbsp;&nbsp; 2453841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $121,653,581) <br>|  | &nbsp;&nbsp;&nbsp; 125783906 |
| **Asset-Backed Securities—1.4%** | **Asset-Backed Securities—1.4%** | **Asset-Backed Securities—1.4%** |
| **Asset-Backed - Automobile — 0.2%** | **Asset-Backed - Automobile — 0.2%** | **Asset-Backed - Automobile — 0.2%** |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.117%, 09/15/32 (144A) | 171102 | &nbsp;&nbsp;&nbsp; 172552 |
| BOF VII AL Funding Trust I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.291%, 07/26/32 (144A) | 139671 | &nbsp;&nbsp;&nbsp; 142130 |
| PenFed Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 06/15/29 (144A) | 157000 | &nbsp;&nbsp;&nbsp; 157996 |
| Securitized Term Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.038%, 07/25/31 (144A) | 128286 | &nbsp;&nbsp;&nbsp; 129486 |
| Tesla Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 08/21/28 (144A) | 386000 | &nbsp;&nbsp;&nbsp; 389417 |
|  |  | &nbsp;&nbsp;&nbsp; 991581 |
| **Asset-Backed - Other — 1.1%** | **Asset-Backed - Other — 1.1%** | **Asset-Backed - Other — 1.1%** |
| Affirm Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.620%, 09/15/29 (144A) | 108000 | &nbsp;&nbsp;&nbsp; 108393 |
| AGL CLO 16 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.726%, 3M TSFR + 1.400%, 01/20/35 (144A) (f) | 375000 | &nbsp;&nbsp;&nbsp; 375091 |
| AGL CLO 17 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.726%, 3M TSFR + 1.400%, 01/21/35 (144A) (f) | 500000 | &nbsp;&nbsp;&nbsp; 500122 |
| Amur Equipment Finance Receivables XI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 06/21/28 (144A) | 99747 | &nbsp;&nbsp;&nbsp; 99991 |
| Amur Equipment Finance Receivables XII LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.090%, 12/20/29 (144A) | 85645 | &nbsp;&nbsp;&nbsp; 86490 |
| Auxilior Term Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.180%, 12/15/28 (144A) | 161539 | &nbsp;&nbsp;&nbsp; 162717 |
| BHG Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 04/17/36 (144A) | 59001 | &nbsp;&nbsp;&nbsp; 59091 |
| Capital Street Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.724%, SOFR30A + 1.350%, 10/16/28 (144A) (f) | 189362 | &nbsp;&nbsp;&nbsp; 189903 |
| Clarus Capital Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.790%, 08/20/32 (144A) | 102000 | &nbsp;&nbsp;&nbsp; 102247 |
| Clover CLO LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.769%, 3M TSFR + 1.450%, 01/25/35 (144A) (f) | 456364 | &nbsp;&nbsp;&nbsp; 456739 |
| Dell Equipment Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 08/22/30 (144A) | 250000 | &nbsp;&nbsp;&nbsp; 252146 |

---

**BHFTI-34**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

**Agency Sponsored Mortgage-Backed Securities—1.0%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| HINNT LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.490%, 03/15/43 (144A) | 110937 | &nbsp;&nbsp;&nbsp; $112906 |
| Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 02/21/34 (144A) | 101000 | &nbsp;&nbsp;&nbsp; 101273 |
| M&T Equipment Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.990%, 08/18/31 (144A) | 124875 | &nbsp;&nbsp;&nbsp; 125299 |
| Magnetite XIX Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.772%, 3M TSFR + 1.450%, 04/17/34 (144A) (f) | 272765 | &nbsp;&nbsp;&nbsp; 272646 |
| Neuberger Berman Loan Advisers CLO 46 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.826%, 3M TSFR + 1.500%, 01/20/37 (144A) (f) | 470000 | &nbsp;&nbsp;&nbsp; 468753 |
| NMEF Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 12/15/31 (144A) | 192227 | &nbsp;&nbsp;&nbsp; 193710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.570%, 06/17/30 (144A) | 121450 | &nbsp;&nbsp;&nbsp; 122263 |
| OCP CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.872%, 3M TSFR + 1.550%, 01/17/37 (144A) (f) | 360000 | &nbsp;&nbsp;&nbsp; 359645 |
| PEAC Solutions Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 07/20/32 (144A) | 126000 | &nbsp;&nbsp;&nbsp; 128008 |
| Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.140%, 06/20/41 (144A) | 91146 | &nbsp;&nbsp;&nbsp; 92040 |
|  |  | &nbsp;&nbsp;&nbsp; 4369473 |
| **Asset-Backed - Student Loan — 0.1%** | **Asset-Backed - Student Loan — 0.1%** | **Asset-Backed - Student Loan — 0.1%** |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.530%, 04/20/62 (144A) | 548158 | &nbsp;&nbsp;&nbsp; 482095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $5,886,577) <br>|  | &nbsp;&nbsp;&nbsp; 5843149 |
| **Non-Agency Mortgage-Backed Securities—1.1%** | **Non-Agency Mortgage-Backed Securities—1.1%** | **Non-Agency Mortgage-Backed Securities—1.1%** |
| **Commercial Mortgage-Backed Securities — 1.1%** | **Commercial Mortgage-Backed Securities — 1.1%** | **Commercial Mortgage-Backed Securities — 1.1%** |
| BAMLL Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.001%, 1M TSFR + 1.850%, 02/15/42 (144A) (f) | 755000 | &nbsp;&nbsp;&nbsp; 755944 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.643%, 1M TSFR + 1.492%, 10/15/41 (144A) (f) | 256101 | &nbsp;&nbsp;&nbsp; 256501 |
| DTP Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.038%, 01/15/41 (144A) (f) | 144000 | &nbsp;&nbsp;&nbsp; 147805 |
| Fashion Show Mall LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.274%, 10/10/41 (144A) (f) | 250000 | &nbsp;&nbsp;&nbsp; 253573 |
| Great Wolf Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.692%, 1M TSFR + 1.542%, 03/15/39 (144A) (f) | 688000 | &nbsp;&nbsp;&nbsp; 689290 |
| HILT Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.691%, 1M TSFR + 1.541%, 05/15/37 (144A) (f) | 260000 | &nbsp;&nbsp;&nbsp; 260406 |
| JP Morgan Chase Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.689%, 12/15/47 (144A) (f) | 1500000 | &nbsp;&nbsp;&nbsp; 872490 |
| NJ Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.697%, 01/06/29 (144A) (f) | 301751 | &nbsp;&nbsp;&nbsp; 316709 |
| ORL Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.643%, 1M TSFR + 1.493%, 12/15/39 (144A) (f) | 227270 | &nbsp;&nbsp;&nbsp; 227341 |
| SWCH Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.593%, 1M TSFR + 1.443%, 02/15/42 (144A) (f) | 675231 | &nbsp;&nbsp;&nbsp; 671644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $4,838,239) <br>|  | &nbsp;&nbsp;&nbsp; 4451703 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations — 1.0%** | **Agency Collateralized Mortgage Obligations — 1.0%** | **Agency Collateralized Mortgage Obligations — 1.0%** |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, SOFR30A + 0.950%, 12/25/41 (144A) (f) | 655279 | &nbsp;&nbsp;&nbsp; $655482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, SOFR30A + 1.000%, 10/25/44 (144A) (f) | 36623 | &nbsp;&nbsp;&nbsp; 36612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, SOFR30A + 1.200%, 08/25/44 (144A) (f) | 419205 | &nbsp;&nbsp;&nbsp; 419465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, SOFR30A + 1.500%, 10/25/41 (144A) (f) | 667680 | &nbsp;&nbsp;&nbsp; 669456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.448%, SOFR30A + 2.100%, 03/25/43 (144A) (f) | 227841 | &nbsp;&nbsp;&nbsp; 231067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.706%, SOFR30A + 4.350%, 04/25/42 (144A) (f) | 208229 | &nbsp;&nbsp;&nbsp; 217781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association Connecticut Avenue <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.206%, SOFR30A + 0.850%, 12/25/41 (144A) (f) | 38005 | &nbsp;&nbsp;&nbsp; 37983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, SOFR30A + 1.000%, 07/25/44 (144A) (f) | 82995 | &nbsp;&nbsp;&nbsp; 82982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, SOFR30A + 1.050%, 09/25/44 (144A) (f) | 48620 | &nbsp;&nbsp;&nbsp; 48590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 01/25/45 (144A) (f) | 178457 | &nbsp;&nbsp;&nbsp; 178513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.906%, SOFR30A + 1.550%, 10/25/41 (144A) (f) | 38058 | &nbsp;&nbsp;&nbsp; 38129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.256%, SOFR30A + 1.900%, 06/25/43 (144A) (f) | 182432 | &nbsp;&nbsp;&nbsp; 183791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.571%, SOFR30A + 2.214%, 03/25/31 (f) | 913571 | &nbsp;&nbsp;&nbsp; 930659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.906%, SOFR30A + 2.550%, 07/25/42 (144A) (f) | 400383 | &nbsp;&nbsp;&nbsp; 410613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $4,091,552) <br>|  | &nbsp;&nbsp;&nbsp; 4141123 |
| **U.S. Treasury & Government Agencies—0.2%** | **U.S. Treasury & Government Agencies—0.2%** | **U.S. Treasury & Government Agencies—0.2%** |
| **U.S. Treasury — 0.2%** | **U.S. Treasury — 0.2%** | **U.S. Treasury — 0.2%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 <br>(Cost $647,590)<br>| 680000 | &nbsp;&nbsp;&nbsp; 654739 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—1.6%** | **Short-Term Investments—1.6%** | **Short-Term Investments—1.6%** |
| **Repurchase Agreement—1.6%** | **Repurchase Agreement—1.6%** | **Repurchase Agreement—1.6%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $6,229,102; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $6,353,250<br>| 6228583 | &nbsp;&nbsp;&nbsp; 6228583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $6,228,583) <br>|  | &nbsp;&nbsp;&nbsp; 6228583 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (g)—1.2%** | **Securities Lending Reinvestments (g)—1.2%** | **Securities Lending Reinvestments (g)—1.2%** |
| **Short-Term Investment Funds—1.0%** | **Short-Term Investment Funds—1.0%** | **Short-Term Investment Funds—1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (h)<br>| 650000 | &nbsp;&nbsp;&nbsp; 650000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares 4.020% (h)<br>| 450000 | &nbsp;&nbsp;&nbsp; 450000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (h)<br>| 450000 | &nbsp;&nbsp;&nbsp; 450000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (h)<br>| 600000 | &nbsp;&nbsp;&nbsp; 600000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (h)<br>| 650000 | &nbsp;&nbsp;&nbsp; 650000 |
| &nbsp;&nbsp;&nbsp;&nbsp; HSBC U.S. Government Money Market Fund, <br>Class I 4.050% (h)<br>| 20000 | &nbsp;&nbsp;&nbsp; 20000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (h)<br>| 650000 | &nbsp;&nbsp;&nbsp; 650000 |

---

**BHFTI-35**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (g)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (h)<br>| 450000 | &nbsp;&nbsp;&nbsp; $450000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (h)<br>| 75000 | &nbsp;&nbsp;&nbsp; 75000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (h)<br>| 200000 | &nbsp;&nbsp;&nbsp; 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Institutional Government Reserves Fund, <br>Institutional Class 4.040% (h)<br>| 20000 | &nbsp;&nbsp;&nbsp; 20000 |
|  |  | &nbsp;&nbsp;&nbsp; 4215000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements—0.2%** | **Repurchase Agreements—0.2%** | **Repurchase Agreements—0.2%** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due <br> on 10/01/25 with a maturity value of $47,121; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 0.000% - 4.625%, maturity dates ranging <br> from 10/28/25 - 05/15/35, and an aggregate market <br> value of $48,058<br>| 47116 | &nbsp;&nbsp;&nbsp; 47116 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due <br> on 10/01/25 with a maturity value of $599,266; <br> collateralized by U.S. Treasury Obligations with zero <br> coupon, maturity dates ranging from 11/15/35 - <br> 08/15/55, and an aggregate market value of $611,180<br>| 599197 | &nbsp;&nbsp;&nbsp; 599197 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due <br> on 10/01/25 with a maturity value of $80,009; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 0.000% - 6.750%, maturity dates ranging <br> from 10/31/25 - 05/15/55, and an aggregate market <br> value of $81,610<br>| 80000 | &nbsp;&nbsp;&nbsp; 80000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due <br> on 10/01/25 with a maturity value of $50,006; <br> collateralized by various Common Stock with an aggregate <br> market value of $55,006<br>| 50000 | &nbsp;&nbsp;&nbsp; 50000 |
|  |  | &nbsp;&nbsp;&nbsp; 776313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $4,991,313) <br>|  | &nbsp;&nbsp;&nbsp; 4991313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.1% <br>(Cost $405,916,253) <br>|  | &nbsp;&nbsp;&nbsp; 407830576 |
| Other assets and liabilities (net)—(0.1)%  |  | &nbsp;&nbsp;&nbsp; (320869)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $407509707 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Interest only security.

(b) Security is a "step up" bond where coupon increases or steps up at a predetermined date. 

---

| | |
|:---|:---|
|  | Rate shown is current coupon rate. |
| (c) | All or a portion of the security was held on loan. As of September 30, 2025, the market value <br> of securities loaned was $16,306,524 and the collateral received consisted of cash in the <br> amount of $4,991,313 and non-cash collateral with a value of $11,963,921. The cash <br> collateral investments are disclosed in the Schedule of Investments and categorized as <br> Securities Lending Reinvestments. The non-cash collateral received consists of U.S. <br> government securities that are held in safe-keeping by the lending agent, or a third-party <br> custodian, and cannot be sold or repledged by the Portfolio.<br>|
| (d) | Principal amount of security is adjusted for inflation. |
| (e) | Non-income producing; security is in default and/or issuer is in bankruptcy. |
| (f) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (g) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (h) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $85,396,835, which is 21.0% of net assets.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Country Diversification as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Japan | 9.2 |
| Mexico | 7.0 |
| United States | 6.7 |
| United Kingdom | 4.7 |
| France | 4.7 |
| China | 3.9 |
| Colombia | 3.5 |
| Canada | 3.3 |
| Turkey | 3.3 |
| Italy | 2.7 |

---

**BHFTI-36**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| AUD | &nbsp;&nbsp; 168728 | SSBT | 11/07/25 | USD | 111373 | &nbsp;&nbsp; $331 |
| BRL | &nbsp;&nbsp; 635350 | BBP | 10/02/25 | USD | 118738 | &nbsp;&nbsp; 638 |
| BRL | &nbsp;&nbsp; 4140574 | BBP | 10/02/25 | USD | 773815 | &nbsp;&nbsp; 4160 |
| BRL | &nbsp;&nbsp; 2971181 | CBNA | 10/02/25 | USD | 558640 | &nbsp;&nbsp; (383)<br>|
| BRL | &nbsp;&nbsp; 1082186 | DBAG | 10/02/25 | USD | 203472 | &nbsp;&nbsp; (140)<br>|
| BRL | &nbsp;&nbsp; 2940008 | JPMC | 10/02/25 | USD | 553799 | &nbsp;&nbsp; (1400)<br>|
| BRL | &nbsp;&nbsp; 3058388 | MSCS | 10/02/25 | USD | 575036 | &nbsp;&nbsp; (394)<br>|
| BRL | &nbsp;&nbsp; 604177 | UBSA | 10/02/25 | USD | 113597 | &nbsp;&nbsp; (78)<br>|
| CAD | &nbsp;&nbsp; 5557293 | MSCS | 11/14/25 | USD | 4037644 | &nbsp;&nbsp; (36159)<br>|
| CAD | &nbsp;&nbsp; 1610791 | SSBT | 11/14/25 | USD | 1157728 | &nbsp;&nbsp; 2110 |
| CNH | &nbsp;&nbsp; 55514612 | MSCS | 10/16/25 | USD | 7768247 | &nbsp;&nbsp; 23451 |
| CNH | &nbsp;&nbsp; 4639021 | SSBT | 10/16/25 | USD | 652863 | &nbsp;&nbsp; (1757)<br>|
| CNH | &nbsp;&nbsp; 858061 | SSBT | 10/16/25 | USD | 120853 | &nbsp;&nbsp; (421)<br>|
| CNH | &nbsp;&nbsp; 2431476 | SSBT | 10/16/25 | USD | 340677 | &nbsp;&nbsp; 590 |
| CNH | &nbsp;&nbsp; 5660872 | SSBT | 10/16/25 | USD | 792098 | &nbsp;&nbsp; 2428 |
| EUR | &nbsp;&nbsp; 399974 | SSBT | 11/21/25 | USD | 475845 | &nbsp;&nbsp; (4877)<br>|
| EUR | &nbsp;&nbsp; 205965 | SSBT | 11/21/25 | USD | 244983 | &nbsp;&nbsp; (2459)<br>|
| EUR | &nbsp;&nbsp; 490376 | SSBT | 11/21/25 | USD | 577159 | &nbsp;&nbsp; 258 |
| JPY | &nbsp;&nbsp; 235029712 | BOA | 10/30/25 | USD | 1602158 | &nbsp;&nbsp; (8195)<br>|
| JPY | &nbsp;&nbsp; 55812329 | SSBT | 10/30/25 | USD | 381662 | &nbsp;&nbsp; (3145)<br>|
| JPY | &nbsp;&nbsp; 7271755 | SSBT | 10/30/25 | USD | 48725 | &nbsp;&nbsp; 591 |
| MXN | &nbsp;&nbsp; 18678166 | BNP | 10/22/25 | USD | 995132 | &nbsp;&nbsp; 22625 |
| MXN | &nbsp;&nbsp; 33054753 | BNP | 10/22/25 | USD | 1777342 | &nbsp;&nbsp; 23783 |
| MXN | &nbsp;&nbsp; 23987438 | BNP | 10/22/25 | USD | 1281717 | &nbsp;&nbsp; 25338 |
| MXN | &nbsp;&nbsp; 7599940 | SSBT | 10/22/25 | USD | 413789 | &nbsp;&nbsp; 325 |
| MXN | &nbsp;&nbsp; 3069651 | SSBT | 10/22/25 | USD | 164319 | &nbsp;&nbsp; 2944 |
| MXN | &nbsp;&nbsp; 5676657 | SSBT | 10/22/25 | USD | 302774 | &nbsp;&nbsp; 6542 |
| MXN | &nbsp;&nbsp; 9474963 | SSBT | 10/22/25 | USD | 501534 | &nbsp;&nbsp; 14748 |
| ZAR | &nbsp;&nbsp; 23967023 | BBP | 10/14/25 | USD | 1376681 | &nbsp;&nbsp; 9963 |
| ZAR | &nbsp;&nbsp; 28995093 | GSI | 10/14/25 | USD | 1655446 | &nbsp;&nbsp; 22104 |
| ZAR | &nbsp;&nbsp; 2348063 | SSBT | 10/14/25 | USD | 132081 | &nbsp;&nbsp; 3769 |
| ZAR | &nbsp;&nbsp; 9129237 | SSBT | 10/14/25 | USD | 505568 | &nbsp;&nbsp; 22616 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| AUD | &nbsp;&nbsp; 7260387 | NWM | 11/07/25 | USD | 4700251 | &nbsp;&nbsp; (106371)<br>|
| AUD | &nbsp;&nbsp; 2901954 | SCB | 11/07/25 | USD | 1875250 | &nbsp;&nbsp; (45941)<br>|
| AUD | &nbsp;&nbsp; 4401523 | SSBT | 11/07/25 | USD | 2884230 | &nbsp;&nbsp; (29728)<br>|
| AUD | &nbsp;&nbsp; 435977 | SSBT | 11/07/25 | USD | 280531 | &nbsp;&nbsp; (8101)<br>|
| BRL | &nbsp;&nbsp; 635350 | BBP | 10/02/25 | USD | 119458 | &nbsp;&nbsp; 82 |
| BRL | &nbsp;&nbsp; 4140574 | BBP | 10/02/25 | USD | 778508 | &nbsp;&nbsp; 534 |
| BRL | &nbsp;&nbsp; 4140574 | BBP | 11/04/25 | USD | 767855 | &nbsp;&nbsp; (3882)<br>|
| BRL | &nbsp;&nbsp; 635350 | BBP | 11/04/25 | USD | 117823 | &nbsp;&nbsp; (596)<br>|
| BRL | &nbsp;&nbsp; 2971181 | CBNA | 10/02/25 | USD | 558230 | &nbsp;&nbsp; (26)<br>|
| BRL | &nbsp;&nbsp; 1082186 | DBAG | 10/02/25 | USD | 197034 | &nbsp;&nbsp; (6298)<br>|
| BRL | &nbsp;&nbsp; 2940008 | JPMC | 10/02/25 | USD | 552779 | &nbsp;&nbsp; 379 |
| BRL | &nbsp;&nbsp; 3058388 | MSCS | 10/02/25 | USD | 556921 | &nbsp;&nbsp; (17721)<br>|
| BRL | &nbsp;&nbsp; 604177 | UBSA | 10/02/25 | USD | 110794 | &nbsp;&nbsp; (2725)<br>|
| CAD | &nbsp;&nbsp; 26277216 | BOA | 11/14/25 | USD | 19042841 | &nbsp;&nbsp; 122135 |
| CAD | &nbsp;&nbsp; 152916 | SSBT | 11/14/25 | USD | 111139 | &nbsp;&nbsp; 1033 |
| CAD | &nbsp;&nbsp; 276429 | SSBT | 11/14/25 | USD | 200580 | &nbsp;&nbsp; 1540 |
| CNH | &nbsp;&nbsp; 181363691 | CBNA | 10/16/25 | USD | 25271886 | &nbsp;&nbsp; (183234)<br>|
| CNH | &nbsp;&nbsp; 10479602 | DBAG | 10/16/25 | USD | 1465583 | &nbsp;&nbsp; (5272)<br>|
| CNH | &nbsp;&nbsp; 1041951 | SSBT | 10/16/25 | USD | 145709 | &nbsp;&nbsp; (533)<br>|
| CNH | &nbsp;&nbsp; 296905 | SSBT | 10/16/25 | USD | 41816 | &nbsp;&nbsp; 144 |

---

**BHFTI-37**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| COP | &nbsp;&nbsp; 10600048356 | BOA | 11/13/25 | USD | 2693820 | &nbsp;&nbsp; $4521 |
| EUR | &nbsp;&nbsp; 23792102 | BNP | 10/08/25 | USD | 27969472 | &nbsp;&nbsp; 26041 |
| EUR | &nbsp;&nbsp; 22535979 | MSCS | 11/21/25 | USD | 26589075 | &nbsp;&nbsp; 52988 |
| EUR | &nbsp;&nbsp; 19718577 | SSBT | 10/15/25 | USD | 23194895 | &nbsp;&nbsp; 25915 |
| EUR | &nbsp;&nbsp; 108469 | SSBT | 11/21/25 | USD | 127291 | &nbsp;&nbsp; (431)<br>|
| EUR | &nbsp;&nbsp; 61852 | SSBT | 11/21/25 | USD | 72742 | &nbsp;&nbsp; (89)<br>|
| EUR | &nbsp;&nbsp; 75000 | SSBT | 11/21/25 | USD | 88563 | &nbsp;&nbsp; 250 |
| EUR | &nbsp;&nbsp; 378369 | SSBT | 11/21/25 | USD | 445787 | &nbsp;&nbsp; 257 |
| EUR | &nbsp;&nbsp; 1687324 | SSBT | 11/21/25 | USD | 1987889 | &nbsp;&nbsp; 1067 |
| EUR | &nbsp;&nbsp; 228039 | SSBT | 11/21/25 | USD | 269687 | &nbsp;&nbsp; 1171 |
| EUR | &nbsp;&nbsp; 712756 | SSBT | 11/21/25 | USD | 841162 | &nbsp;&nbsp; 1892 |
| EUR | &nbsp;&nbsp; 407226 | SSBT | 11/21/25 | USD | 481788 | &nbsp;&nbsp; 2279 |
| EUR | &nbsp;&nbsp; 1863135 | SSBT | 11/21/25 | USD | 2197421 | &nbsp;&nbsp; 3581 |
| GBP | &nbsp;&nbsp; 12451478 | BOA | 12/05/25 | USD | 17019415 | &nbsp;&nbsp; 270948 |
| GBP | &nbsp;&nbsp; 6730 | SSBT | 12/05/25 | USD | 9198 | &nbsp;&nbsp; 146 |
| GBP | &nbsp;&nbsp; 65065 | SSBT | 12/05/25 | USD | 88564 | &nbsp;&nbsp; 1046 |
| HUF | &nbsp;&nbsp; 414447846 | GSI | 11/19/25 | USD | 1245370 | &nbsp;&nbsp; 1448 |
| HUF | &nbsp;&nbsp; 90642765 | SSBT | 11/19/25 | USD | 270955 | &nbsp;&nbsp; (1100)<br>|
| HUF | &nbsp;&nbsp; 136363180 | SSBT | 11/19/25 | USD | 408439 | &nbsp;&nbsp; (840)<br>|
| HUF | &nbsp;&nbsp; 34041672 | SSBT | 11/19/25 | USD | 102791 | &nbsp;&nbsp; 619 |
| HUF | &nbsp;&nbsp; 272637809 | SSBT | 11/19/25 | USD | 823927 | &nbsp;&nbsp; 5634 |
| IDR | &nbsp;&nbsp; 9158919845 | BBP | 10/24/25 | USD | 549254 | &nbsp;&nbsp; (237)<br>|
| IDR | &nbsp;&nbsp; 36752600938 | BBP | 10/24/25 | USD | 2251446 | &nbsp;&nbsp; 46466 |
| IDR | &nbsp;&nbsp; 7973310692 | HSBCU | 10/24/25 | USD | 488939 | &nbsp;&nbsp; 10578 |
| JPY | &nbsp;&nbsp; 2799596822 | JPMC | 10/30/25 | USD | 19155472 | &nbsp;&nbsp; 168709 |
| JPY | &nbsp;&nbsp; 3024583171 | MSCS | 10/30/25 | USD | 20657181 | &nbsp;&nbsp; 144568 |
| KRW | &nbsp;&nbsp; 414735006 | BOA | 10/14/25 | USD | 297267 | &nbsp;&nbsp; 1514 |
| KRW | &nbsp;&nbsp; 3504962200 | CBNA | 10/14/25 | USD | 2564187 | &nbsp;&nbsp; 64749 |
| MXN | &nbsp;&nbsp; 23607283 | CBNA | 10/22/25 | USD | 1285360 | &nbsp;&nbsp; (981)<br>|
| MXN | &nbsp;&nbsp; 34954871 | GSI | 10/22/25 | USD | 1864718 | &nbsp;&nbsp; (39944)<br>|
| MXN | &nbsp;&nbsp; 24343706 | GSI | 10/22/25 | USD | 1318263 | &nbsp;&nbsp; (8205)<br>|
| MXN | &nbsp;&nbsp; 90450493 | MSCS | 10/22/25 | USD | 4782780 | &nbsp;&nbsp; (145792)<br>|
| MXN | &nbsp;&nbsp; 56078388 | MSCS | 10/22/25 | USD | 2965275 | &nbsp;&nbsp; (90390)<br>|
| MXN | &nbsp;&nbsp; 15201635 | SSBT | 10/22/25 | USD | 804663 | &nbsp;&nbsp; (23662)<br>|
| MYR | &nbsp;&nbsp; 7700738 | GSI | 11/21/25 | USD | 1828068 | &nbsp;&nbsp; (5152)<br>|
| NZD | &nbsp;&nbsp; 44430 | SSBT | 11/07/25 | USD | 26305 | &nbsp;&nbsp; 511 |
| PEN | &nbsp;&nbsp; 7624543 | UBSA | 11/13/25 | USD | 2193103 | &nbsp;&nbsp; (517)<br>|
| PEN | &nbsp;&nbsp; 1428990 | UBSA | 11/13/25 | USD | 411031 | &nbsp;&nbsp; (97)<br>|
| PLN | &nbsp;&nbsp; 11087090 | UBSA | 11/19/25 | USD | 3063020 | &nbsp;&nbsp; 14728 |
| ZAR | &nbsp;&nbsp; 43200552 | MSCS | 10/14/25 | USD | 2392839 | &nbsp;&nbsp; (106586)<br>|
| ZAR | &nbsp;&nbsp; 10920591 | SSBT | 10/14/25 | USD | 627192 | &nbsp;&nbsp; (4633)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp; $268295 |

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Australian 3 Year Treasury Bond Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; 23 | AUD | 2457336 | &nbsp;&nbsp;&nbsp; $(5811)<br>|
| Euro-Bobl Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 35 | EUR | 4123350 | &nbsp;&nbsp;&nbsp; 1195 |
| Euro-BTP Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 15 | EUR | 1797600 | &nbsp;&nbsp;&nbsp; 22878 |
| Euro-Buxl 30 Year Bond Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 16 | EUR | 1831680 | &nbsp;&nbsp;&nbsp; 47320 |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 10 | EUR | 1213500 | &nbsp;&nbsp;&nbsp; 9616 |
| Euro-Schatz Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 25 | EUR | 2674500 | &nbsp;&nbsp;&nbsp; (2815)<br>|
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 37 | GBP | 3361080 | &nbsp;&nbsp;&nbsp; 12894 |

---

**BHFTI-38**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Futures Contracts — (Continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration**<br> **Date**<br>| **Number of**<br> **Contracts**<br>| **Notional**<br> **Value** | **Notional**<br> **Value** | **Value/**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 15 | USD | 1748906 | &nbsp;&nbsp;&nbsp; $44470 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 197 | USD | 41054492 | &nbsp;&nbsp;&nbsp; (2809)<br>|
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 181 | USD | 19764352 | &nbsp;&nbsp;&nbsp; 25556 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 91 | USD | 10925688 | &nbsp;&nbsp;&nbsp; 163707 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| Canadian Government Bond | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; (64)<br>| CAD | (7837440)<br>| &nbsp;&nbsp;&nbsp; (125176)<br>|
| Euro-Bund Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (24)<br>| EUR | (3085680)<br>| &nbsp;&nbsp;&nbsp; (7775)<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (27)<br>| USD | (3107109)<br>| &nbsp;&nbsp;&nbsp; 15633 |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $198883 |

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <sup>(1)</sup> <br>|
| Pay | 1-Day CDI | Maturity | 13.650<br> %<br>| Maturity | 01/02/31 | BRL | 41902082 | &nbsp;&nbsp; $66786 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $66786 |
| Pay | 3M NZDBB | Quarterly | 4.153<br> %<br>| Quarterly | 03/18/35 | NZD | 3204000 | &nbsp;&nbsp; 75454 | &nbsp;&nbsp; — | &nbsp;&nbsp; 75454 |
| Pay | 3M NZDBB | Quarterly | 4.155<br> %<br>| Quarterly | 03/18/35 | NZD | 1626000 | &nbsp;&nbsp; 38483 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38483 |
| Pay | 7-Day CNRR | Quarterly | 1.571<br> %<br>| Quarterly | 02/20/30 | CNY | 53440000 | &nbsp;&nbsp; (21828)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (21828)<br>|
| Pay | 7-Day CNRR | Quarterly | 1.583<br> %<br>| Quarterly | 04/03/30 | CNY | 16879000 | &nbsp;&nbsp; (6113)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (6113)<br>|
| Pay | 7-Day CNRR | Quarterly | 1.591<br> %<br>| Quarterly | 04/03/30 | CNY | 18231000 | &nbsp;&nbsp; (5717)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5717)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $147065 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $147065 |

---

**Centrally Cleared Credit Default Swap Contracts on Credit Indices—Buy Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**(Pay) Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| ITRX.AUS.44.V1 | (1.000%) | &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/20/30 | &nbsp;&nbsp; 0.656% | &nbsp;&nbsp; USD | 3110000 | &nbsp;&nbsp; $(50251) | &nbsp;&nbsp; $(49794) | &nbsp;&nbsp; $(457) |

---

**Centrally Cleared Credit Default Swap Contracts on Credit Indices—Sell Protection (d)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| CDX.NA.IG.45.V1 | 1.000% | &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/20/30 | &nbsp;&nbsp; 0.519% | &nbsp;&nbsp; USD | 3110000 | &nbsp;&nbsp; $70466 | &nbsp;&nbsp; $71249 | &nbsp;&nbsp; $(783) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

**BHFTI-39**

------

**Brighthouse Funds Trust I**

**AB International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) There were no upfront premiums paid or (received), therefore Market Value equals Unrealized
 Appreciation/(Depreciation).

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $255736060 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $255736060 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 125783906 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 125783906 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5843149 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5843149 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4451703 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4451703 |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4141123 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4141123 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 654739 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 654739 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6228583 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6228583 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 4215000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4215000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 776313 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 776313 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 4215000 | &nbsp;&nbsp;&nbsp; 776313 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4991313 |
| Total Investments | &nbsp;&nbsp;&nbsp; $4215000 | &nbsp;&nbsp;&nbsp; $403615576 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $407830576 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(4991313)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(4991313)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1166787 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1166787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (898492)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (898492)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $268295 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $268295 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $343269 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $343269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (144386)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (144386)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $198883 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $198883 |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $180723 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $180723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (34898)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (34898)<br>|
| Total Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $145825 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $145825 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-40**

------

**Brighthouse Funds Trust I**

**Allspring Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—99.3% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 2.9%** | **Aerospace & Defense — 2.9%** | **Aerospace & Defense — 2.9%** |
| L3Harris Technologies, Inc.  | 14151 | &nbsp;&nbsp;&nbsp; $4321857 |
| StandardAero, Inc. (a) | 169283 | &nbsp;&nbsp;&nbsp; 4619733 |
|  |  | &nbsp;&nbsp;&nbsp; 8941590 |
| **Automobile Components — 1.4%** | **Automobile Components — 1.4%** | **Automobile Components — 1.4%** |
| Aptiv PLC (a) | 51158 | &nbsp;&nbsp;&nbsp; 4410843 |
| **Banks — 4.1%** | **Banks — 4.1%** | **Banks — 4.1%** |
| Fifth Third Bancorp (b) | 156399 | &nbsp;&nbsp;&nbsp; 6967575 |
| First Citizens BancShares, Inc. - Class A | 712 | &nbsp;&nbsp;&nbsp; 1273882 |
| Regions Financial Corp.  | 161162 | &nbsp;&nbsp;&nbsp; 4249842 |
|  |  | &nbsp;&nbsp;&nbsp; 12491299 |
| **Beverages — 2.9%** | **Beverages — 2.9%** | **Beverages — 2.9%** |
| Keurig Dr. Pepper, Inc.  | 285029 | &nbsp;&nbsp;&nbsp; 7271090 |
| Primo Brands Corp.  | 68458 | &nbsp;&nbsp;&nbsp; 1512922 |
|  |  | &nbsp;&nbsp;&nbsp; 8784012 |
| **Building Products — 1.2%** | **Building Products — 1.2%** | **Building Products — 1.2%** |
| Carlisle Cos., Inc. (b) | 10791 | &nbsp;&nbsp;&nbsp; 3549807 |
| **Capital Markets — 2.9%** | **Capital Markets — 2.9%** | **Capital Markets — 2.9%** |
| Jefferies Financial Group, Inc.  | 136396 | &nbsp;&nbsp;&nbsp; 8923026 |
| **Chemicals — 1.6%** | **Chemicals — 1.6%** | **Chemicals — 1.6%** |
| Eastman Chemical Co. (b) | 17516 | &nbsp;&nbsp;&nbsp; 1104384 |
| RPM International, Inc.  | 31849 | &nbsp;&nbsp;&nbsp; 3754360 |
|  |  | &nbsp;&nbsp;&nbsp; 4858744 |
| **Commercial Services & Supplies — 1.5%** | **Commercial Services & Supplies — 1.5%** | **Commercial Services & Supplies — 1.5%** |
| Republic Services, Inc.  | 19657 | &nbsp;&nbsp;&nbsp; 4510888 |
| **Construction & Engineering — 0.9%** | **Construction & Engineering — 0.9%** | **Construction & Engineering — 0.9%** |
| API Group Corp. (a) | 79882 | &nbsp;&nbsp;&nbsp; 2745544 |
| **Construction Materials — 3.6%** | **Construction Materials — 3.6%** | **Construction Materials — 3.6%** |
| Amrize Ltd. (a) (b) | 57473 | &nbsp;&nbsp;&nbsp; 2789164 |
| Vulcan Materials Co.  | 26635 | &nbsp;&nbsp;&nbsp; 8193459 |
|  |  | &nbsp;&nbsp;&nbsp; 10982623 |
| **Containers & Packaging — 2.7%** | **Containers & Packaging — 2.7%** | **Containers & Packaging — 2.7%** |
| AptarGroup, Inc.  | 10397 | &nbsp;&nbsp;&nbsp; 1389663 |
| Graphic Packaging Holding Co. (b) | 344743 | &nbsp;&nbsp;&nbsp; 6746621 |
|  |  | &nbsp;&nbsp;&nbsp; 8136284 |
| **Electric Utilities — 5.5%** | **Electric Utilities — 5.5%** | **Electric Utilities — 5.5%** |
| American Electric Power Co., Inc.  | 82573 | &nbsp;&nbsp;&nbsp; 9289462 |
| FirstEnergy Corp.  | 167511 | &nbsp;&nbsp;&nbsp; 7675354 |
|  |  | &nbsp;&nbsp;&nbsp; 16964816 |
| **Electronic Equipment, Instruments & Components — 2.9%** | **Electronic Equipment, Instruments & Components — 2.9%** | **Electronic Equipment, Instruments & Components — 2.9%** |
| CDW Corp.  | 29314 | &nbsp;&nbsp;&nbsp; 4669134 |
| Keysight Technologies, Inc. (a) | 24541 | &nbsp;&nbsp;&nbsp; 4292712 |
|  |  | &nbsp;&nbsp;&nbsp; 8961846 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Energy Equipment & Services — 2.2%** | **Energy Equipment & Services — 2.2%** | **Energy Equipment & Services — 2.2%** |
| Baker Hughes Co.  | 138724 | &nbsp;&nbsp;&nbsp; $6758633 |
| **Financial Services — 1.1%** | **Financial Services — 1.1%** | **Financial Services — 1.1%** |
| Euronet Worldwide, Inc. (a) (b) | 40250 | &nbsp;&nbsp;&nbsp; 3534352 |
| **Ground Transportation — 2.9%** | **Ground Transportation — 2.9%** | **Ground Transportation — 2.9%** |
| Canadian Pacific Kansas City Ltd. (b) | 78425 | &nbsp;&nbsp;&nbsp; 5841878 |
| Knight-Swift Transportation Holdings, Inc. (b) | 79740 | &nbsp;&nbsp;&nbsp; 3150528 |
|  |  | &nbsp;&nbsp;&nbsp; 8992406 |
| **Health Care Equipment & Supplies — 2.1%** | **Health Care Equipment & Supplies — 2.1%** | **Health Care Equipment & Supplies — 2.1%** |
| Alcon AG (b) | 51591 | &nbsp;&nbsp;&nbsp; 3844046 |
| Hologic, Inc. (a) | 37021 | &nbsp;&nbsp;&nbsp; 2498547 |
|  |  | &nbsp;&nbsp;&nbsp; 6342593 |
| **Health Care Providers & Services — 4.4%** | **Health Care Providers & Services — 4.4%** | **Health Care Providers & Services — 4.4%** |
| Humana, Inc.  | 17508 | &nbsp;&nbsp;&nbsp; 4555056 |
| Labcorp Holdings, Inc. (b) | 30976 | &nbsp;&nbsp;&nbsp; 8891971 |
|  |  | &nbsp;&nbsp;&nbsp; 13447027 |
| **Household Durables — 2.8%** | **Household Durables — 2.8%** | **Household Durables — 2.8%** |
| DR Horton, Inc. (b) | 26069 | &nbsp;&nbsp;&nbsp; 4417913 |
| Somnigroup International, Inc. (b) | 32431 | &nbsp;&nbsp;&nbsp; 2734906 |
| TopBuild Corp. (a) (b) | 3318 | &nbsp;&nbsp;&nbsp; 1296874 |
|  |  | &nbsp;&nbsp;&nbsp; 8449693 |
| **Household Products — 1.6%** | **Household Products — 1.6%** | **Household Products — 1.6%** |
| Church & Dwight Co., Inc.  | 55593 | &nbsp;&nbsp;&nbsp; 4871615 |
| **Insurance — 5.3%** | **Insurance — 5.3%** | **Insurance — 5.3%** |
| Arch Capital Group Ltd.  | 66921 | &nbsp;&nbsp;&nbsp; 6071743 |
| Brown & Brown, Inc.  | 50889 | &nbsp;&nbsp;&nbsp; 4772879 |
| Loews Corp.  | 54970 | &nbsp;&nbsp;&nbsp; 5518438 |
|  |  | &nbsp;&nbsp;&nbsp; 16363060 |
| **IT Services — 1.9%** | **IT Services — 1.9%** | **IT Services — 1.9%** |
| Amdocs Ltd.  | 58830 | &nbsp;&nbsp;&nbsp; 4827002 |
| Okta, Inc. (a) | 9382 | &nbsp;&nbsp;&nbsp; 860329 |
|  |  | &nbsp;&nbsp;&nbsp; 5687331 |
| **Life Sciences Tools & Services — 4.4%** | **Life Sciences Tools & Services — 4.4%** | **Life Sciences Tools & Services — 4.4%** |
| Charles River Laboratories International, Inc. (a) | 40531 | &nbsp;&nbsp;&nbsp; 6341480 |
| ICON PLC (a) | 20341 | &nbsp;&nbsp;&nbsp; 3559675 |
| Qiagen NV (b) | 53794 | &nbsp;&nbsp;&nbsp; 2403516 |
| Revvity, Inc. (b) | 14277 | &nbsp;&nbsp;&nbsp; 1251379 |
|  |  | &nbsp;&nbsp;&nbsp; 13556050 |
| **Machinery — 5.1%** | **Machinery — 5.1%** | **Machinery — 5.1%** |
| Donaldson Co., Inc.  | 17971 | &nbsp;&nbsp;&nbsp; 1470926 |
| Gates Industrial Corp. PLC (a) | 219424 | &nbsp;&nbsp;&nbsp; 5446104 |
| Ingersoll Rand, Inc. (b) | 30592 | &nbsp;&nbsp;&nbsp; 2527511 |
| Mueller Industries, Inc.  | 13363 | &nbsp;&nbsp;&nbsp; 1351133 |
| Toro Co.  | 63084 | &nbsp;&nbsp;&nbsp; 4807001 |
|  |  | &nbsp;&nbsp;&nbsp; 15602675 |

---

**BHFTI-41**

------

**Brighthouse Funds Trust I**

**Allspring Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

**Warrants—0.0%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Media — 0.3%** | **Media — 0.3%** | **Media — 0.3%** |
| NIQ Global Intelligence PLC (a) (b) | 52315 | &nbsp;&nbsp;&nbsp; $821345 |
| **Metals & Mining — 1.5%** | **Metals & Mining — 1.5%** | **Metals & Mining — 1.5%** |
| Freeport-McMoRan, Inc.  | 88600 | &nbsp;&nbsp;&nbsp; 3474892 |
| Nucor Corp.  | 9348 | &nbsp;&nbsp;&nbsp; 1266000 |
|  |  | &nbsp;&nbsp;&nbsp; 4740892 |
| **Mortgage Real Estate Investment Trusts — 2.1%** | **Mortgage Real Estate Investment Trusts — 2.1%** | **Mortgage Real Estate Investment Trusts — 2.1%** |
| Annaly Capital Management, Inc. (b) | 319187 | &nbsp;&nbsp;&nbsp; 6450769 |
| **Office REITs — 1.3%** | **Office REITs — 1.3%** | **Office REITs — 1.3%** |
| BXP, Inc.  | 53006 | &nbsp;&nbsp;&nbsp; 3940466 |
| **Oil, Gas & Consumable Fuels — 4.7%** | **Oil, Gas & Consumable Fuels — 4.7%** | **Oil, Gas & Consumable Fuels — 4.7%** |
| EOG Resources, Inc. (b) | 37985 | &nbsp;&nbsp;&nbsp; 4258878 |
| EQT Corp.  | 97940 | &nbsp;&nbsp;&nbsp; 5330874 |
| Valero Energy Corp.  | 28382 | &nbsp;&nbsp;&nbsp; 4832320 |
|  |  | &nbsp;&nbsp;&nbsp; 14422072 |
| **Professional Services — 3.8%** | **Professional Services — 3.8%** | **Professional Services — 3.8%** |
| Booz Allen Hamilton Holding Corp.  | 43599 | &nbsp;&nbsp;&nbsp; 4357720 |
| Jacobs Solutions, Inc.  | 48449 | &nbsp;&nbsp;&nbsp; 7260567 |
|  |  | &nbsp;&nbsp;&nbsp; 11618287 |
| **Real Estate Management & Development — 1.5%** | **Real Estate Management & Development — 1.5%** | **Real Estate Management & Development — 1.5%** |
| CBRE Group, Inc. - Class A (a) | 28339 | &nbsp;&nbsp;&nbsp; 4465093 |
| **Semiconductors & Semiconductor Equipment — 4.4%** | **Semiconductors & Semiconductor Equipment — 4.4%** | **Semiconductors & Semiconductor Equipment — 4.4%** |
| ON Semiconductor Corp. (a) | 96046 | &nbsp;&nbsp;&nbsp; 4736028 |
| Teradyne, Inc.  | 64404 | &nbsp;&nbsp;&nbsp; 8864567 |
|  |  | &nbsp;&nbsp;&nbsp; 13600595 |
| **Specialized REITs — 3.8%** | **Specialized REITs — 3.8%** | **Specialized REITs — 3.8%** |
| CubeSmart | 86467 | &nbsp;&nbsp;&nbsp; 3515748 |
| Gaming & Leisure Properties, Inc.  | 73393 | &nbsp;&nbsp;&nbsp; 3420848 |
| Weyerhaeuser Co. (b) | 187230 | &nbsp;&nbsp;&nbsp; 4641432 |
|  |  | &nbsp;&nbsp;&nbsp; 11578028 |
| **Specialty Retail — 1.3%** | **Specialty Retail — 1.3%** | **Specialty Retail — 1.3%** |
| AutoZone, Inc. (a) | 927 | &nbsp;&nbsp;&nbsp; 3977052 |
| **Textiles, Apparel & Luxury Goods — 1.1%** | **Textiles, Apparel & Luxury Goods — 1.1%** | **Textiles, Apparel & Luxury Goods — 1.1%** |
| PVH Corp. (b) | 39736 | &nbsp;&nbsp;&nbsp; 3328685 |
| **Trading Companies & Distributors — 3.8%** | **Trading Companies & Distributors — 3.8%** | **Trading Companies & Distributors — 3.8%** |
| AerCap Holdings NV | 54974 | &nbsp;&nbsp;&nbsp; 6651854 |
| WESCO International, Inc. (b) | 23856 | &nbsp;&nbsp;&nbsp; 5045544 |
|  |  | &nbsp;&nbsp;&nbsp; 11697398 |
| **Water Utilities — 1.8%** | **Water Utilities — 1.8%** | **Water Utilities — 1.8%** |
| American Water Works Co., Inc.  | 39877 | &nbsp;&nbsp;&nbsp; 5550480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $254,507,360) <br>|  | &nbsp;&nbsp;&nbsp; 304057919 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Holdings Ltd., Expires 07/24/27 (a) (c) (d) <br>(Cost $175,712)<br>| 30257 | &nbsp;&nbsp;&nbsp; $0 |
| **Escrow Shares—0.0%** | **Escrow Shares—0.0%** | **Escrow Shares—0.0%** |
| **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Tontine Holdings Ltd. (a) (c) (d) <br>(Cost $0)<br>| 277348 | &nbsp;&nbsp;&nbsp; 0 |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Holdings Ltd. (a) <br>(Cost $0)<br>| 84465 | &nbsp;&nbsp;&nbsp; 0 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.8%** | **Short-Term Investments—0.8%** | **Short-Term Investments—0.8%** |
| **Repurchase Agreement—0.8%** | **Repurchase Agreement—0.8%** | **Repurchase Agreement—0.8%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $2,331,654; collateralized <br> by U.S. Treasury Note at 3.750%, maturing 04/30/27, with a <br> market value of $2,378,145<br>| 2331460 | &nbsp;&nbsp;&nbsp; 2331460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $2,331,460) <br>|  | &nbsp;&nbsp;&nbsp; 2331460 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—12.4%** | **Securities Lending Reinvestments (e)—12.4%** | **Securities Lending Reinvestments (e)—12.4%** |
| **Short-Term Investment Funds—2.4%** | **Short-Term Investment Funds—2.4%** | **Short-Term Investment Funds—2.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (f)<br>| 400000 | &nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (f)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (f)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 7400000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificate of Deposit—0.3%** | **Certificate of Deposit—0.3%** | **Certificate of Deposit—0.3%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 999999 |
| **Repurchase Agreements—8.0%** | **Repurchase Agreements—8.0%** | **Repurchase Agreements—8.0%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $1,000,117; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $3,000,352; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |

---

**BHFTI-42**

------

**Brighthouse Funds Trust I**

**Allspring Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $800,095; collateralized by <br> various Common Stock with an aggregate market value of <br> $889,869<br>| 800000 | &nbsp;&nbsp;&nbsp; $800000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $1,000,116; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $1,020,000<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $2,047,836; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,200,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $600,069; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $612,000<br>| 600000 | &nbsp;&nbsp;&nbsp; 600000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $4,659,503; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $4,752,140<br>| 4658961 | &nbsp;&nbsp;&nbsp; 4658961 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $2,900,345; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,233,773<br>| 2900000 | &nbsp;&nbsp;&nbsp; 2900000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $3,000,357; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,345,282<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $2,001,672; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $2,224,376<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $600,068; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $612,000<br>| 600000 | &nbsp;&nbsp;&nbsp; 600000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $3,000,349; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,300,384<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
|  |  | &nbsp;&nbsp;&nbsp; 24558961 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—1.7%** | **Time Deposits—1.7%** | **Time Deposits—1.7%** |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $37,958,961) <br>|  | &nbsp;&nbsp;&nbsp; 37958960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—112.5% <br>(Cost $294,973,493) <br>|  | &nbsp;&nbsp;&nbsp; 344348339 |
| Other assets and liabilities (net)—(12.5)%  |  | &nbsp;&nbsp;&nbsp; (38159359)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $306188980 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $60,274,192 and the collateral received consisted of cash in the amount of $37,958,961 and non-cash collateral with a value of $23,823,359. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of September 30, 2025, these securities represent 0.0% of net assets. 

(d) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.

(e) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(f) The rate shown represents the annualized seven-day yield as of September 30, 2025.

(g) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

**BHFTI-43**

------

**Brighthouse Funds Trust I**

**Allspring Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $304057919 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $304057919 |
| Total Warrants\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| Total Escrow Shares\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| Total Rights\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2331460 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2331460 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 7400000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificate of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 999999 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 999999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24558961 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24558961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 7400000 | &nbsp;&nbsp;&nbsp; 30558960 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37958960 |
| Total Investments | &nbsp;&nbsp;&nbsp; $311457919 | &nbsp;&nbsp;&nbsp; $32890420 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $344348339 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(37958961)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(37958961)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-44**

------

**Brighthouse Funds Trust I**

**American Funds**<sup>®</sup> **Aggressive Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—100.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** |
| American Funds AMCAP Fund (Class R-6) | 7101392 | &nbsp;&nbsp;&nbsp; $342003054 |
| American Funds American Mutual Fund (Class R-6) | 4326516 | &nbsp;&nbsp;&nbsp; 269671712 |
| American Funds Capital World Bond Fund (Class 1) (a) | 4175013 | &nbsp;&nbsp;&nbsp; 43795887 |
| American Funds Fundamental Investors Fund (Class R-6) | 3517023 | &nbsp;&nbsp;&nbsp; 328736104 |
| American Funds Growth Fund (Class 1) | 2246722 | &nbsp;&nbsp;&nbsp; 312002227 |
| American Funds Growth-Income Fund (Class 1) | 4489583 | &nbsp;&nbsp;&nbsp; 299634764 |
| American Funds High-Income Trust Fund (Class R-6) | 5845592 | &nbsp;&nbsp;&nbsp; 58163639 |
| American Funds International Fund (Class 1) (a) | 12425337 | &nbsp;&nbsp;&nbsp; 269878317 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Funds International Growth & Income Fund (Class R-6) <br> (a)<br>| 7331417 | &nbsp;&nbsp;&nbsp; 329327260 |
| American Funds New World Fund (Class 1) | 2840288 | &nbsp;&nbsp;&nbsp; 89497484 |
| American Funds Smallcap World Fund, Inc. (Class R-6) | 1884502 | &nbsp;&nbsp;&nbsp; 147349227 |
| American Funds The Bond Fund of America (Class 1) | 14753353 | &nbsp;&nbsp;&nbsp; 143992730 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Mutual Funds—(Continued)** | **Mutual Funds—(Continued)** | **Mutual Funds—(Continued)** |
| American Funds U.S. Government Securities Fund (Class R-6) | 3571984 | &nbsp;&nbsp;&nbsp; $43328160 |
| American Funds Washington Mutual Investors Fund (Class 1) | 16585302 | &nbsp;&nbsp;&nbsp; 298369579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $2,362,432,037) <br>|  | &nbsp;&nbsp;&nbsp; 2975750144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.1% <br>(Cost $2,362,432,037) <br>|  | &nbsp;&nbsp;&nbsp; 2975750144 |
| Other assets and liabilities (net)—(0.1)%  |  | &nbsp;&nbsp;&nbsp; (1803493)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $2973946651 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated
 issuers.)

**Transactions in Securities of Affiliated Issuers**

Issuers in which the Portfolio owns 5% or more of the outstanding shares are considered affiliates of the Portfolio.

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| American Funds Capital World Bond Fund (Class 1) | &nbsp;&nbsp; $40719097 | &nbsp;&nbsp; $2452834 | &nbsp;&nbsp; $(2984711)<br>| &nbsp;&nbsp; $(599788)<br>| &nbsp;&nbsp; $4208455 | &nbsp;&nbsp; $43795887 |
| American Funds International Fund (Class 1) | &nbsp;&nbsp; 244239064 | &nbsp;&nbsp; 974396 | &nbsp;&nbsp; (26765434)<br>| &nbsp;&nbsp; 3329096 | &nbsp;&nbsp; 48101195 | &nbsp;&nbsp; 269878317 |
| American Funds International Growth & Income Fund (Class R-6) | &nbsp;&nbsp; 302509305 | &nbsp;&nbsp; 16307225 | &nbsp;&nbsp; (60857118)<br>| &nbsp;&nbsp; 1730627 | &nbsp;&nbsp; 69637221 | &nbsp;&nbsp; 329327260 |
|  | &nbsp;&nbsp; $587467466 | &nbsp;&nbsp; $19734455 | &nbsp;&nbsp; $(90607263)<br>| &nbsp;&nbsp; $4459935 | &nbsp;&nbsp; $121946871 | &nbsp;&nbsp; $643001464 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| American Funds Capital World Bond Fund (Class 1) | &nbsp;&nbsp; $116345 | &nbsp;&nbsp; 4175013 |
| American Funds International Fund (Class 1) | &nbsp;&nbsp; 168256 | &nbsp;&nbsp; 12425337 |
| American Funds International Growth & Income Fund (Class R-6) | &nbsp;&nbsp; 7029647 | &nbsp;&nbsp; 7331417 |
|  | &nbsp;&nbsp; $7314248 |  |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp; $2975750144 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2975750144 |
| Total Investments | &nbsp;&nbsp; $2975750144 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2975750144 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-45**

------

**Brighthouse Funds Trust I**

**American Funds**<sup>®</sup> **Balanced Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—100.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** |
| American Funds AMCAP Fund (Class R-6) | 6814063 | &nbsp;&nbsp;&nbsp; $328165258 |
| American Funds American Mutual Fund (Class R-6) | 4635586 | &nbsp;&nbsp;&nbsp; 288936114 |
| American Funds Capital World Bond Fund (Class 1) (a) | 10628010 | &nbsp;&nbsp;&nbsp; 111487825 |
| American Funds Fundamental Investors Fund (Class R-6) | 3525272 | &nbsp;&nbsp;&nbsp; 329507169 |
| American Funds Growth Fund (Class 1) | 2506938 | &nbsp;&nbsp;&nbsp; 348138504 |
| American Funds Growth-Income Fund (Class 1) | 5570267 | &nbsp;&nbsp;&nbsp; 371759628 |
| American Funds High-Income Trust Fund (Class R-6) | 18479286 | &nbsp;&nbsp;&nbsp; 183868898 |
| American Funds International Fund (Class 1) (a) | 12828049 | &nbsp;&nbsp;&nbsp; 278625217 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Funds International Growth & Income Fund (Class R-6) <br> (a)<br>| 8034549 | &nbsp;&nbsp;&nbsp; 360911924 |
| American Funds New World Fund (Class 1) | 2611254 | &nbsp;&nbsp;&nbsp; 82280615 |
| American Funds Smallcap World Fund, Inc. (Class R-6) | 1560440 | &nbsp;&nbsp;&nbsp; 122010843 |
| American Funds The Bond Fund of America (Class 1) (a) | 55074778 | &nbsp;&nbsp;&nbsp; 537529829 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Mutual Funds—(Continued)** | **Mutual Funds—(Continued)** | **Mutual Funds—(Continued)** |
| American Funds U.S. Government Securities Fund (Class R-6) | 35105610 | &nbsp;&nbsp;&nbsp; $425831045 |
| American Funds Washington Mutual Investors Fund (Class 1) | 18290476 | &nbsp;&nbsp;&nbsp; 329045661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $3,563,805,428) <br>|  | &nbsp;&nbsp;&nbsp; 4098098530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.1% <br>(Cost $3,563,805,428) <br>|  | &nbsp;&nbsp;&nbsp; 4098098530 |
| Other assets and liabilities (net)—(0.1)%  |  | &nbsp;&nbsp;&nbsp; (2373612)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $4095724918 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated
 issuers.)

**Transactions in Securities of Affiliated Issuers**

Issuers in which the Portfolio owns 5% or more of the outstanding shares are considered affiliates of the Portfolio.

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| American Funds Capital World Bond Fund (Class 1) | &nbsp;&nbsp; $106451205 | &nbsp;&nbsp; $3796006 | &nbsp;&nbsp; $(8083604)<br>| &nbsp;&nbsp; $(1747087)<br>| &nbsp;&nbsp; $11071305 | &nbsp;&nbsp; $111487825 |
| American Funds International Fund (Class 1) | &nbsp;&nbsp; 260535116 | &nbsp;&nbsp; 303860 | &nbsp;&nbsp; (35774485)<br>| &nbsp;&nbsp; 6664580 | &nbsp;&nbsp; 46896146 | &nbsp;&nbsp; 278625217 |
| American Funds International Growth & Income Fund (Class R-6) | &nbsp;&nbsp; 341282815 | &nbsp;&nbsp; 16562116 | &nbsp;&nbsp; (76502831)<br>| &nbsp;&nbsp; 2318588 | &nbsp;&nbsp; 77251236 | &nbsp;&nbsp; 360911924 |
| American Funds The Bond Fund of America (Class 1) | &nbsp;&nbsp; 524325508 | &nbsp;&nbsp; 15971812 | &nbsp;&nbsp; (30209352)<br>| &nbsp;&nbsp; (4681102)<br>| &nbsp;&nbsp; 32122963 | &nbsp;&nbsp; 537529829 |
|  | &nbsp;&nbsp; $1232594644 | &nbsp;&nbsp; $36633794 | &nbsp;&nbsp; $(150570272)<br>| &nbsp;&nbsp; $2554979 | &nbsp;&nbsp; $167341650 | &nbsp;&nbsp; $1288554795 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| American Funds Capital World Bond Fund (Class 1) | &nbsp;&nbsp; $297973 | &nbsp;&nbsp; 10628010 |
| American Funds International Fund (Class 1) | &nbsp;&nbsp; 174666 | &nbsp;&nbsp; 12828049 |
| American Funds International Growth & Income Fund (Class R-6) | &nbsp;&nbsp; 7765876 | &nbsp;&nbsp; 8034549 |
| American Funds The Bond Fund of America (Class 1) | &nbsp;&nbsp; 4746584 | &nbsp;&nbsp; 55074778 |
|  | &nbsp;&nbsp; $12985099 |  |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp; $4098098530 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4098098530 |
| Total Investments | &nbsp;&nbsp; $4098098530 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4098098530 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-46**

------

**Brighthouse Funds Trust I**

**American Funds**<sup>®</sup> **Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—100.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** |
| American Funds Growth Fund (Class 1) (a) | 14522847 | &nbsp;&nbsp;&nbsp; $2016787750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $1,349,279,027) <br>|  | &nbsp;&nbsp;&nbsp; 2016787750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.1% <br>(Cost $1,349,279,027) <br>|  | &nbsp;&nbsp;&nbsp; 2016787750 |
| Other assets and liabilities (net)—(0.1)%  |  | &nbsp;&nbsp;&nbsp; (1238277)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $2015549473 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated
 issuers.)

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| American Funds Growth Fund (Class 1) | &nbsp;&nbsp; $1860838354 | &nbsp;&nbsp; $191258063 | &nbsp;&nbsp; $(215668523)<br>| &nbsp;&nbsp; $99225294 | &nbsp;&nbsp; $81134562 | &nbsp;&nbsp; $2016787750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Capital Gain** <br>**Distributions from** <br>**Affiliated Investments**<br>| **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| American Funds Growth Fund (Class 1) | &nbsp;&nbsp; $151172240 | &nbsp;&nbsp; $3757540 | &nbsp;&nbsp; 14522847 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp; $2016787750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2016787750 |
| Total Investments | &nbsp;&nbsp; $2016787750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2016787750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-47**

------

**Brighthouse Funds Trust I**

**American Funds**<sup>®</sup> **Moderate Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—100.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** | **Mutual Funds — 100.1%** |
| American Funds AMCAP Fund (Class R-6) | 2033126 | &nbsp;&nbsp;&nbsp; $97915375 |
| American Funds American Mutual Fund (Class R-6) | 2528283 | &nbsp;&nbsp;&nbsp; 157587867 |
| American Funds Capital World Bond Fund (Class 1) (a) | 6504545 | &nbsp;&nbsp;&nbsp; 68232678 |
| American Funds Fundamental Investors Fund (Class R-6) | 1052010 | &nbsp;&nbsp;&nbsp; 98331362 |
| American Funds Growth Fund (Class 1) | 704040 | &nbsp;&nbsp;&nbsp; 97770032 |
| American Funds Growth-Income Fund (Class 1) | 2361240 | &nbsp;&nbsp;&nbsp; 157589135 |
| American Funds High-Income Trust Fund (Class R-6) | 11410321 | &nbsp;&nbsp;&nbsp; 113532700 |
| American Funds International Fund (Class 1) | 4985660 | &nbsp;&nbsp;&nbsp; 108288536 |
| American Funds International Growth & Income Fund (Class R-6) | 2850403 | &nbsp;&nbsp;&nbsp; 128040102 |
| American Funds New World Fund (Class 1) | 623025 | &nbsp;&nbsp;&nbsp; 19631517 |
| American Funds Smallcap World Fund, Inc. (Class R-6) | 248990 | &nbsp;&nbsp;&nbsp; 19468509 |
| American Funds The Bond Fund of America (Class 1) (a) | 36955485 | &nbsp;&nbsp;&nbsp; 360685537 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Mutual Funds—(Continued)** | **Mutual Funds—(Continued)** | **Mutual Funds—(Continued)** |
| American Funds U.S. Government Securities Fund (Class R-6) | 30515431 | &nbsp;&nbsp;&nbsp; $370152179 |
| American Funds Washington Mutual Investors Fund (Class 1) | 8740585 | &nbsp;&nbsp;&nbsp; 157243118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $1,806,879,861) <br>|  | &nbsp;&nbsp;&nbsp; 1954468647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.1% <br>(Cost $1,806,879,861) <br>|  | &nbsp;&nbsp;&nbsp; 1954468647 |
| Other assets and liabilities (net)—(0.1)%  |  | &nbsp;&nbsp;&nbsp; (1319118)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1953149529 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated
 issuers.)

**Transactions in Securities of Affiliated Issuers**

Issuers in which the Portfolio owns 5% or more of the outstanding shares are considered affiliates of the Portfolio.

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| American Funds Capital World Bond Fund (Class 1) | &nbsp;&nbsp; $67014672 | &nbsp;&nbsp; $1644692 | &nbsp;&nbsp; $(6236774)<br>| &nbsp;&nbsp; $(1254150)<br>| &nbsp;&nbsp; $7064238 | &nbsp;&nbsp; $68232678 |
| American Funds The Bond Fund of America (Class 1) | &nbsp;&nbsp; 370954619 | &nbsp;&nbsp; 4097304 | &nbsp;&nbsp; (33169988)<br>| &nbsp;&nbsp; (4000340)<br>| &nbsp;&nbsp; 22803942 | &nbsp;&nbsp; 360685537 |
|  | &nbsp;&nbsp; $437969291 | &nbsp;&nbsp; $5741996 | &nbsp;&nbsp; $(39406762)<br>| &nbsp;&nbsp; $(5254490)<br>| &nbsp;&nbsp; $29868180 | &nbsp;&nbsp; $428918215 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| American Funds Capital World Bond Fund (Class 1) | &nbsp;&nbsp; $183517 | &nbsp;&nbsp; 6504545 |
| American Funds The Bond Fund of America (Class 1) | &nbsp;&nbsp; 3244604 | &nbsp;&nbsp; 36955485 |
|  | &nbsp;&nbsp; $3428121 |  |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp; $1954468647 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1954468647 |
| Total Investments | &nbsp;&nbsp; $1954468647 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1954468647 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-48**

------

**Brighthouse Funds Trust I**

**BlackRock Global Tactical Strategies Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—90.5% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Exchange-Traded Funds — 90.5%** | **Exchange-Traded Funds — 90.5%** | **Exchange-Traded Funds — 90.5%** |
| Communication Services Select Sector SPDR Fund (a) | 257066 | &nbsp;&nbsp;&nbsp; $30428902 |
| Consumer Discretionary Select Sector SPDR Fund (a) | 122035 | &nbsp;&nbsp;&nbsp; 29244467 |
| Consumer Staples Select Sector SPDR Fund (a) | 137500 | &nbsp;&nbsp;&nbsp; 10775875 |
| Energy Select Sector SPDR Fund (a) | 81470 | &nbsp;&nbsp;&nbsp; 7278530 |
| Financial Select Sector SPDR Fund | 655503 | &nbsp;&nbsp;&nbsp; 35311947 |
| Health Care Select Sector SPDR Fund (a) | 173123 | &nbsp;&nbsp;&nbsp; 24093528 |
| Industrial Select Sector SPDR Fund (a) | 150496 | &nbsp;&nbsp;&nbsp; 23210998 |
| iShares Core MSCI EAFE ETF (b) | 8548608 | &nbsp;&nbsp;&nbsp; 746378964 |
| iShares Core S&P 500 ETF (b) | 818985 | &nbsp;&nbsp;&nbsp; 548146661 |
| iShares Core U.S. Aggregate Bond ETF (a) (b) | 4415883 | &nbsp;&nbsp;&nbsp; 442692271 |
| iShares U.S. Real Estate ETF (a) (b) | 617557 | &nbsp;&nbsp;&nbsp; 59952434 |
| Materials Select Sector SPDR Fund (a) | 59476 | &nbsp;&nbsp;&nbsp; 5330239 |
| Technology Select Sector SPDR Fund (a) | 284792 | &nbsp;&nbsp;&nbsp; 80271473 |
| Utilities Select Sector SPDR Fund | 81104 | &nbsp;&nbsp;&nbsp; 7073080 |
| Vanguard Total Bond Market ETF (a) | 7915573 | &nbsp;&nbsp;&nbsp; 588681163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $2,274,812,528) <br>|  | &nbsp;&nbsp;&nbsp; 2638870532 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—7.0%** | **Short-Term Investments—7.0%** | **Short-Term Investments—7.0%** |
| **Repurchase Agreement—0.5%** | **Repurchase Agreement—0.5%** | **Repurchase Agreement—0.5%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $14,755,968; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $15,049,869<br>| 14754739 | &nbsp;&nbsp;&nbsp; 14754739 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investment Funds—6.5%** |  |  |
| State Street USD Liquidity LVNAV Fund - Institutional Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.128% (c) | 189968054 | &nbsp;&nbsp;&nbsp; 189968054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $204,722,793) <br>|  | &nbsp;&nbsp;&nbsp; 204722793 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (d)—9.0%** | **Securities Lending Reinvestments (d)—9.0%** | **Securities Lending Reinvestments (d)—9.0%** |
| **Certificates of Deposit—2.5%** | **Certificates of Deposit—2.5%** | **Certificates of Deposit—2.5%** |
| Bank of America NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.560%, SOFR + 0.400%, 03/31/26 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 2001810 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 08/07/26 (e) | 5000000 | &nbsp;&nbsp;&nbsp; 5001260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.520%, SOFR + 0.390%, 05/05/26 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 2000770 |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, SOFR + 0.330%, 07/22/26 (e) | 3000000 | &nbsp;&nbsp;&nbsp; 2999968 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 10/01/25 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 1999998 |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (e) | 5000000 | &nbsp;&nbsp;&nbsp; 5004835 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.410%, SOFR + 0.280%, 11/03/25 (e) | 5000000 | &nbsp;&nbsp;&nbsp; 5000040 |
| Mitsubishi UFJ Trust & Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, SOFR + 0.220%, 03/17/26 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 2000042 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, SOFR + 0.240%, 01/13/26 (e) | 3000000 | &nbsp;&nbsp;&nbsp; 3000255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 10/10/25 (e) | 3000000 | &nbsp;&nbsp;&nbsp; 3000150 |
| MUFG Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.470%, SOFR + 0.310%, 10/30/25 (e) | 4000000 | &nbsp;&nbsp;&nbsp; 4000488 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (e) | 5000000 | &nbsp;&nbsp;&nbsp; $5000655 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 05/01/26 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 2001354 |
| Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/06/25 | 5000000 | &nbsp;&nbsp;&nbsp; 4999985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 12/08/25 (e) | 3000000 | &nbsp;&nbsp;&nbsp; 2999991 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (e) | 3000000 | &nbsp;&nbsp;&nbsp; 3000165 |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 2000348 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.230%, 01/30/26 (e) | 3000000 | &nbsp;&nbsp;&nbsp; 3000303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/14/25 (e) | 5000000 | &nbsp;&nbsp;&nbsp; 5000335 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, 10/24/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4001160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 5000000 | &nbsp;&nbsp;&nbsp; 5000600 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.610%, SOFR + 0.450%, 04/23/26 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1001154 |
|  |  | &nbsp;&nbsp;&nbsp; 74015666 |
| **Commercial Paper—0.7%** | **Commercial Paper—0.7%** | **Commercial Paper—0.7%** |
| Chesham Finance Ltd./Chesham Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/03/25 | 4000000 | &nbsp;&nbsp;&nbsp; 3998612 |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 4000000 | &nbsp;&nbsp;&nbsp; 3999036 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, SOFR + 0.140%, 12/08/25 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 1999806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, SOFR + 0.150%, 10/06/25 (e) | 6000000 | &nbsp;&nbsp;&nbsp; 5999994 |
| Salisbury Receivables Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 12/11/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1983212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.180%, 12/08/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1983900 |
|  |  | &nbsp;&nbsp;&nbsp; 19964560 |
| **Repurchase Agreements—5.7%** | **Repurchase Agreements—5.7%** | **Repurchase Agreements—5.7%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $3,000,350; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $3,300,387; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,670,708<br>| 3300000 | &nbsp;&nbsp;&nbsp; 3300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $13,301,578; <br> collateralized by various Common Stock with an aggregate <br> market value of $14,794,066<br>| 13300000 | &nbsp;&nbsp;&nbsp; 13300000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $2,000,232; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $2,040,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

**BHFTI-49**

------

**Brighthouse Funds Trust I**

**BlackRock Global Tactical Strategies Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (d)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $30,717,533; <br> collateralized by various Common Stock with an aggregate <br> market value of $33,000,008<br>| 30000000 | &nbsp;&nbsp;&nbsp; $30000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $2,400,277; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 4.625%, maturity dates ranging from <br> 10/28/25 - 05/15/35, and an aggregate market value of <br> $2,448,000<br>| 2400000 | &nbsp;&nbsp;&nbsp; 2400000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $5,049,948; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $5,150,348<br>| 5049360 | &nbsp;&nbsp;&nbsp; 5049360 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $2,000,238; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,230,188<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $55,045,986; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $61,170,333<br>| 55000000 | &nbsp;&nbsp;&nbsp; 55000000 |
| NBC Global Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.330%, due on <br> 10/07/25 with a maturity value of $46,038,729; <br> collateralized by various Common Stock with an aggregate <br> market value of $51,296,402<br>| 46000000 | &nbsp;&nbsp;&nbsp; 46000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $2,500,284; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 05/31/26 - 07/15/30, and an aggregate market value of <br> $2,550,000<br>| 2500000 | &nbsp;&nbsp;&nbsp; 2500000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,400,163; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,540,179<br>| 1400000 | &nbsp;&nbsp;&nbsp; 1400000 |
|  |  | &nbsp;&nbsp;&nbsp; 165949360 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—0.1%** | **Time Deposits—0.1%** | **Time Deposits—0.1%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $262,916,030) <br>|  | &nbsp;&nbsp;&nbsp; 262929586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—106.5% <br>(Cost $2,742,451,351) <br>|  | &nbsp;&nbsp;&nbsp; 3106522911 |
| Other assets and liabilities (net)—(6.5)%  |  | &nbsp;&nbsp;&nbsp; (188509755)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $2918013156 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $266,017,331 and the collateral received consisted of cash in the amount of $262,904,706 and non-cash collateral with a value of $7,996,728. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(b) Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated issuers.)

(c) The rate shown represents the annualized seven-day yield as of September 30, 2025.

(d) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(e) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

**Transactions in Securities of Affiliated Issuers**

The Portfolio does not invest in the Underlying ETFs for the purpose of exercising control; however, investments by the Portfolio within its principal investment strategies may represent a significant portion of the Underlying ETFs' net assets. Transactions in the Underlying ETFs for the period ended September 30, 2025 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| iShares Core MSCI EAFE ETF | &nbsp;&nbsp; $451806787 | &nbsp;&nbsp; $177362574 | &nbsp;&nbsp; $(32070224)<br>| &nbsp;&nbsp; $10029067 | &nbsp;&nbsp; $139250760 | &nbsp;&nbsp; $746378964 |
| iShares Core S&P 500 ETF | &nbsp;&nbsp; 380006480 | &nbsp;&nbsp; 204179766 | &nbsp;&nbsp; (107999830)<br>| &nbsp;&nbsp; 11538738 | &nbsp;&nbsp; 60421507 | &nbsp;&nbsp; 548146661 |

---

**BHFTI-50**

------

**Brighthouse Funds Trust I**

**BlackRock Global Tactical Strategies Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value**<br> **December 31, 2024**<br>| **Purchases** | **Sales** | **Realized**<br> **Gain/(Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>| **Ending Value**<br> **as of**<br> **September 30, 2025**<br>|
| iShares Core U.S. Aggregate Bond ETF | &nbsp;&nbsp; $487120370 | &nbsp;&nbsp; $68049918 | &nbsp;&nbsp; $(128501855)<br>| &nbsp;&nbsp; $(1163497)<br>| &nbsp;&nbsp; $17187335 | &nbsp;&nbsp; $442692271 |
| iShares U.S. Real Estate ETF | &nbsp;&nbsp; 61677376 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4328663)<br>| &nbsp;&nbsp; (486443)<br>| &nbsp;&nbsp; 3090164 | &nbsp;&nbsp; 59952434 |
|  | &nbsp;&nbsp; $1380611013 | &nbsp;&nbsp; $449592258 | &nbsp;&nbsp; $(272900572)<br>| &nbsp;&nbsp; $19917865 | &nbsp;&nbsp; $219949766 | &nbsp;&nbsp; $1797170330 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| iShares Core MSCI EAFE ETF | &nbsp;&nbsp; $12536594 | &nbsp;&nbsp; 8548608 |
| iShares Core S&P 500 ETF | &nbsp;&nbsp; 5102358 | &nbsp;&nbsp; 818985 |
| iShares Core U.S. Aggregate Bond ETF | &nbsp;&nbsp; 11873815 | &nbsp;&nbsp; 4415883 |
| iShares U.S. Real Estate ETF | &nbsp;&nbsp; 922877 | &nbsp;&nbsp; 617557 |
|  | &nbsp;&nbsp; $30435644 |  |

---

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| AUD | &nbsp;&nbsp; 112656870 | GSI | 12/17/25 | USD | 74285827 | &nbsp;&nbsp; $326393 |
| CAD | &nbsp;&nbsp; 98186779 | GSI | 12/17/25 | USD | 71362842 | &nbsp;&nbsp; (557409)<br>|
| EUR | &nbsp;&nbsp; 63296401 | GSI | 12/17/25 | USD | 74802041 | &nbsp;&nbsp; (163000)<br>|
| EUR | &nbsp;&nbsp; 7535000 | JPMC | 12/17/25 | USD | 8915661 | &nbsp;&nbsp; (30398)<br>|
| EUR | &nbsp;&nbsp; 63296401 | JPMC | 12/17/25 | USD | 74622520 | &nbsp;&nbsp; 16521 |
| JPY | &nbsp;&nbsp; 21135370371 | GSI | 12/17/25 | USD | 144577633 | &nbsp;&nbsp; (561593)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| AUD | &nbsp;&nbsp; 6550000 | GSI | 12/17/25 | USD | 4319063 | &nbsp;&nbsp; (18977)<br>|
| CAD | &nbsp;&nbsp; 4830000 | GSI | 12/17/25 | USD | 3510478 | &nbsp;&nbsp; 27420 |
| EUR | &nbsp;&nbsp; 6438000 | DBAG | 12/17/25 | USD | 7659351 | &nbsp;&nbsp; 67669 |
| EUR | &nbsp;&nbsp; 1106875 | GSI | 12/17/25 | USD | 1308076 | &nbsp;&nbsp; 2850 |
| GBP | &nbsp;&nbsp; 30000 | HSBC | 12/17/25 | USD | 40611 | &nbsp;&nbsp; 260 |
| JPY | &nbsp;&nbsp; 534016801 | GSI | 12/17/25 | USD | 3652971 | &nbsp;&nbsp; 14190 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Cross Currency** <br> **Contracts to Buy** | **Cross Currency** <br> **Contracts to Buy** |  |  |  |  |  |
| JPY | &nbsp;&nbsp; 21135371150 | GSI | 12/17/25 | EUR | 122390503 | &nbsp;&nbsp; (306691)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp; $(1182765)<br>|

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 237 | USD | 33005805 | &nbsp;&nbsp;&nbsp; $127774 |
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 421 | USD | 51688275 | &nbsp;&nbsp;&nbsp; 294857 |
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 227 | USD | 76484813 | &nbsp;&nbsp;&nbsp; 1020451 |
| TOPIX Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; 358 | JPY | 11244780000 | &nbsp;&nbsp;&nbsp; 649929 |

---

**BHFTI-51**

------

**Brighthouse Funds Trust I**

**BlackRock Global Tactical Strategies Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Futures Contracts — (Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** | **Expiration**<br> **Date**<br>| **Number of**<br> **Contracts**<br>| **Notional**<br> **Value** | **Notional**<br> **Value** | **Value/**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (70)<br>| USD | (9748550)<br>| &nbsp;&nbsp;&nbsp; $(21895)<br>|
| NASDAQ 100 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (220)<br>| USD | (109567700)<br>| &nbsp;&nbsp;&nbsp; (2857258)<br>|
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (3)<br>| USD | (1010813)<br>| &nbsp;&nbsp;&nbsp; 176 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (2376)<br>| USD | (285268500)<br>| &nbsp;&nbsp;&nbsp; (6092479)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp;&nbsp; $(6878445)<br>|

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 12M SOFR | Annually | 3.658<br> %<br>| Annually | 04/06/35 | USD | 241695426 | &nbsp;&nbsp; $427426 | &nbsp;&nbsp; $(616937)<br>| &nbsp;&nbsp; $1044363 |
| Pay | 12M SOFR | Annually | 3.768<br> %<br>| Annually | 03/09/35 | USD | 422000000 | &nbsp;&nbsp; 4601618 | &nbsp;&nbsp; 187718 | &nbsp;&nbsp; 4413900 |
| Pay | 12M SOFR | Annually | 4.096<br> %<br>| Annually | 01/12/35 | USD | 198616939 | &nbsp;&nbsp; 7428529 | &nbsp;&nbsp; 745763 | &nbsp;&nbsp; 6682766 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $12457573 | &nbsp;&nbsp; $316544 | &nbsp;&nbsp; $12141029 |

---

**OTC Total Return Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Underlying Reference** <br>**Instrument** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <sup>(1)</sup> <br>|
| Pay | 3M UST | Quarterly | 05/29/26 | JPMC | S&P GSCI Commodity Total Return Index | USD | 114944608 | $744840 | $— | $744840 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(1) There were no upfront premiums paid or (received), therefore Market Value equals Unrealized
 Appreciation/(Depreciation).

Securities in the amount of $703,063 have been received at the custodian bank as collateral for OTC derivative contracts.

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; $2638870532 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2638870532 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14754739 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14754739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 189968054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 189968054 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp; 189968054 | &nbsp;&nbsp;&nbsp; 14754739 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 204722793 |
| Total Securities Lending Reinvestments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 262929586 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 262929586 |
| Total Investments | &nbsp;&nbsp;&nbsp; $2828838586 | &nbsp;&nbsp;&nbsp; $277684325 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3106522911 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(262904706)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(262904706)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $455303 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $455303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1638068)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1638068)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1182765)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1182765)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $2093187 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2093187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (8971632)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (8971632)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $(6878445)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(6878445)<br>|

---

**BHFTI-52**

------

**Brighthouse Funds Trust I**

**BlackRock Global Tactical Strategies Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $12141029 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $12141029 |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Assets) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $744840 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $744840 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Consolidated Schedule of Investments for additional detailed categorizations.

**BHFTI-53**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—88.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Advertising — 1.4%** | **Advertising — 1.4%** | **Advertising — 1.4%** |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/15/31 (144A) (a) | 2426000 | &nbsp;&nbsp;&nbsp; $2507640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/01/29 (144A) (a) | 2152000 | &nbsp;&nbsp;&nbsp; 2090051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 03/15/33 (144A) (a) | 2820000 | &nbsp;&nbsp;&nbsp; 2948505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/15/28 (144A) (a) | 850000 | &nbsp;&nbsp;&nbsp; 848454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/01/30 (144A) | 2220000 | &nbsp;&nbsp;&nbsp; 2331058 |
| CMG Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 06/18/29 (144A) (a) | 515000 | &nbsp;&nbsp;&nbsp; 472986 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/01/33 (144A) | 583000 | &nbsp;&nbsp;&nbsp; 578712 |
| Neptune Bidco U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.290%, 04/15/29 (144A) | 1157000 | &nbsp;&nbsp;&nbsp; 1135815 |
| Outfront Media Capital LLC/Outfront Media Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/29 (144A) | 931000 | &nbsp;&nbsp;&nbsp; 894217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/30 (144A) (a) | 345000 | &nbsp;&nbsp;&nbsp; 331577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/27 (144A) (a) | 244000 | &nbsp;&nbsp;&nbsp; 242774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/31 (144A) | 346000 | &nbsp;&nbsp;&nbsp; 365010 |
| Stagwell Global LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/29 (144A) | 275000 | &nbsp;&nbsp;&nbsp; 267140 |
| Summer BC Holdco B SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 114671 |
|  |  | &nbsp;&nbsp;&nbsp; 15128610 |
| **Aerospace/Defense — 2.5%** | **Aerospace/Defense — 2.5%** | **Aerospace/Defense — 2.5%** |
| AAR Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/29 (144A) | 852000 | &nbsp;&nbsp;&nbsp; 877070 |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/15/28 (144A) (a) | 952000 | &nbsp;&nbsp;&nbsp; 954407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 06/15/33 (144A) | 928000 | &nbsp;&nbsp;&nbsp; 968422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/01/32 (144A) (a) | 1094000 | &nbsp;&nbsp;&nbsp; 1143430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/01/31 (144A) (a) | 181000 | &nbsp;&nbsp;&nbsp; 191866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 11/15/30 (144A) | 283000 | &nbsp;&nbsp;&nbsp; 305185 |
| Czechoslovak Group AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/10/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121980 |
| Efesto Bidco SpA Efesto U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/15/32 (144A) | 2830000 | &nbsp;&nbsp;&nbsp; 2879808 |
| Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/32 (144A) † | 815000 | &nbsp;&nbsp;&nbsp; 835375 |
| Spirit AeroSystems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 11/30/29 (144A) | 1120000 | &nbsp;&nbsp;&nbsp; 1179605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 11/15/30 (144A) | 1527000 | &nbsp;&nbsp;&nbsp; 1679386 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/33 (144A) (a) | 1960000 | &nbsp;&nbsp;&nbsp; 1981723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/31/34 (144A) | 539000 | &nbsp;&nbsp;&nbsp; 554318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/29 (144A) | 2310000 | &nbsp;&nbsp;&nbsp; 2361746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/31/33 (144A) | 3553000 | &nbsp;&nbsp;&nbsp; 3592946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/01/32 (144A) | 2679000 | &nbsp;&nbsp;&nbsp; 2758151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/31/34 (144A) | 3800000 | &nbsp;&nbsp;&nbsp; 3929044 |
|  |  | &nbsp;&nbsp;&nbsp; 26314462 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/30 (144A) (a) | 186000 | &nbsp;&nbsp;&nbsp; 187778 |
| Tereos Finance Groupe I SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/30/27 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117926 |
|  |  | &nbsp;&nbsp;&nbsp; 305704 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| Air France-KLM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5Y EUR Swap + 3.580%, 05/21/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; $119803 |
| American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 05/15/29 (144A) (a) | 500000 | &nbsp;&nbsp;&nbsp; 521576 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/20/29 (144A) (a) | 78000 | &nbsp;&nbsp;&nbsp; 78298 |
| JetBlue Airways Corp./JetBlue Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 09/20/31 (144A) (a) | 756000 | &nbsp;&nbsp;&nbsp; 766790 |
| OneSky Flight LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 12/15/29 (144A) | 625000 | &nbsp;&nbsp;&nbsp; 657221 |
| United Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 04/15/29 (144A) (a) | 371000 | &nbsp;&nbsp;&nbsp; 365320 |
|  |  | &nbsp;&nbsp;&nbsp; 2509008 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/32 (144A) (EUR) | 1140000 | &nbsp;&nbsp;&nbsp; 1371990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 10.750% PIK, 07/15/33 (144A) (c) | 2199000 | &nbsp;&nbsp;&nbsp; 2371978 |
| Crocs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/31 (144A) (a) | 165000 | &nbsp;&nbsp;&nbsp; 151164 |
| Hanesbrands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/15/31 (144A) | 41000 | &nbsp;&nbsp;&nbsp; 43394 |
| Levi Strauss & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/31 (144A) (a) | 326000 | &nbsp;&nbsp;&nbsp; 302670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/15/30 (144A) (EUR) | 335000 | &nbsp;&nbsp;&nbsp; 399098 |
| PrestigeBidCo GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.776%, 3M EURIBOR + 3.750%, 07/01/29 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 118071 |
|  |  | &nbsp;&nbsp;&nbsp; 4758365 |
| **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** |
| Aston Martin Capital Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 03/31/29 (144A) (a) | 400000 | &nbsp;&nbsp;&nbsp; 391622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.375%, 03/31/29 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 130770 |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/30/30 (144A) | 1246000 | &nbsp;&nbsp;&nbsp; 1246425 |
| Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/17/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 07/17/33 (144A) (EUR) | 400000 | &nbsp;&nbsp;&nbsp; 483499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/17/32 (144A) (a) | 767000 | &nbsp;&nbsp;&nbsp; 811688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 07/17/35 (144A) (a) | 1682000 | &nbsp;&nbsp;&nbsp; 1805619 |
| RCI Banque SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5Y EUR Swap + 2.200%, 03/24/37 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 119454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5Y EUR Swap + 2.750%, 10/09/34 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 123496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 5Y EUR Swap + 3.839%, 09/24/30 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 234693 |
| Renault SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/30/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117227 |
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 01/15/31 (144A) (a) | 636000 | &nbsp;&nbsp;&nbsp; 592049 |
| Volkswagen International Finance NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.994%, 8Y EUR Swap + 3.494%, 11/15/33 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 121840 |
| Wabash National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/28 (144A) (a) | 381000 | &nbsp;&nbsp;&nbsp; 353498 |
|  |  | &nbsp;&nbsp;&nbsp; 6651531 |

---

**BHFTI-54**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/15/32 (144A) | 420000 | &nbsp;&nbsp;&nbsp; $419291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/15/33 (144A) | 439000 | &nbsp;&nbsp;&nbsp; 442422 |
| Aptiv Swiss Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y H15 + 3.385%, 12/15/54 (a) (b) | 600000 | &nbsp;&nbsp;&nbsp; 612989 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/31 (144A) (EUR) | 770000 | &nbsp;&nbsp;&nbsp; 921053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/28 (144A) | 679000 | &nbsp;&nbsp;&nbsp; 693997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30 (144A) (a) | 1341000 | &nbsp;&nbsp;&nbsp; 1385266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/32 (144A) | 1890000 | &nbsp;&nbsp;&nbsp; 1931882 |
| Dana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/01/30 | 243000 | &nbsp;&nbsp;&nbsp; 240653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/32 | 370000 | &nbsp;&nbsp;&nbsp; 364325 |
| Forvia SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120710 |
| Garrett Motion Holdings, Inc./Garrett LX I SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/31/32 (144A) (a) | 316000 | &nbsp;&nbsp;&nbsp; 331485 |
| Goodyear Tire & Rubber Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/29 (a) | 234000 | &nbsp;&nbsp;&nbsp; 225968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/30/31 | 37000 | &nbsp;&nbsp;&nbsp; 34965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/30/33 | 12000 | &nbsp;&nbsp;&nbsp; 11165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/30 (a) | 452000 | &nbsp;&nbsp;&nbsp; 458626 |
| IHO Verwaltungs GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 7.500% PIK, 11/15/29 (EUR) (c) | 100000 | &nbsp;&nbsp;&nbsp; 124297 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/15/32 (144A) | 777000 | &nbsp;&nbsp;&nbsp; 782926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/15/33 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 612712 |
| Schaeffler AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/01/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/14/26 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/14/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120557 |
| Tenneco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/17/28 (144A) (a) | 1037000 | &nbsp;&nbsp;&nbsp; 1038893 |
| ZF Europe Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/12/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121870 |
| ZF Finance GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/06/27 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 114174 |
|  |  | &nbsp;&nbsp;&nbsp; 11467974 |
| **Banks — 3.0%** | **Banks — 3.0%** | **Banks — 3.0%** |
| Abanca Corp. Bancaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5Y EUR Swap + 2.450%, 12/11/36 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 120900 |
| Banca Monte dei Paschi di Siena SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5Y EUR Swap + 2.150%, 10/02/35 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 239459 |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y EUR Swap + 4.267%, 12/13/30 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 253495 |
| Banco BPM SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5Y EUR Swap + 3.170%, 06/29/31 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 117331 |
| Banco de Sabadell SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5Y EUR Swap + 5.171%, 05/19/27 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 237210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5Y EUR Swap + 3.150%, 08/16/33 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 125984 |
| Banco Espirito Santo SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 05/08/17 (EUR) (d) | 400000 | &nbsp;&nbsp;&nbsp; 103317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/18 (EUR) (d) | 1000000 | &nbsp;&nbsp;&nbsp; 258291 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5Y H15 + 2.351%, 07/26/30 (b) | 1335000 | &nbsp;&nbsp;&nbsp; $1352057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5Y H15 + 2.684%, 05/01/30 (b) | 3065000 | &nbsp;&nbsp;&nbsp; 3189099 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 5Y USD SOFR ICE Swap + 3.686%, 03/15/35 (a) <br> (b)<br>| 600000 | &nbsp;&nbsp;&nbsp; 635810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 5Y H15 + 5.431%, 03/15/29 (b) | 200000 | &nbsp;&nbsp;&nbsp; 211709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 5Y USD SOFR ICE Swap + 5.775%, 12/15/29 (a) <br> (b)<br>| 2645000 | &nbsp;&nbsp;&nbsp; 3002768 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5Y H15 + 2.572%, 02/15/30 (b) | 1088000 | &nbsp;&nbsp;&nbsp; 1104610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y H15 + 2.890%, 08/15/30 (b) | 520000 | &nbsp;&nbsp;&nbsp; 535890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 5Y H15 + 2.726%, 02/15/30 (a) (b) | 430000 | &nbsp;&nbsp;&nbsp; 441613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10Y H15 + 2.757%, 08/15/34 (b) | 465000 | &nbsp;&nbsp;&nbsp; 493900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5Y H15 + 2.693%, 08/15/29 (b) | 1950000 | &nbsp;&nbsp;&nbsp; 2014590 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 5Y EUR Swap + 3.636%, 03/23/35 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 119277 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 5Y EUR Swap + 5.112%, 10/30/31 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 253069 |
| First-Citizens Bank & Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/36 | 1604000 | &nbsp;&nbsp;&nbsp; 1644657 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10Y H15 + 2.400%, 11/10/34 (a) (b) | 2239000 | &nbsp;&nbsp;&nbsp; 2272390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 5Y H15 + 2.461%, 02/10/30 (b) | 985000 | &nbsp;&nbsp;&nbsp; 1023147 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.710%, 01/15/26 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 300653 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 5Y H15 + 3.752%, 11/10/33 (b) | 590000 | &nbsp;&nbsp;&nbsp; 664196 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7Y H15 + 2.808%, 03/15/30 (b) | 311000 | &nbsp;&nbsp;&nbsp; 319117 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 5Y H15 + 3.790%, 11/21/29 (144A) (b) | 241000 | &nbsp;&nbsp;&nbsp; 252450 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5Y H15 + 2.977%, 07/31/84 (b) | 1085000 | &nbsp;&nbsp;&nbsp; 1141952 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 5Y USD SOFR ICE Swap + 3.122%, 08/05/30 <br> (144A) (b)<br>| 695000 | &nbsp;&nbsp;&nbsp; 698719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 5Y USD SOFR ICE Swap + 3.630%, 09/10/29 <br> (144A) (a) (b)<br>| 410000 | &nbsp;&nbsp;&nbsp; 422785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 5Y USD SOFR ICE Swap + 3.077%, 02/10/30 <br> (144A) (b)<br>| 710000 | &nbsp;&nbsp;&nbsp; 727573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 5Y USD SOFR ICE Swap + 3.296%, 02/05/35 <br> (144A) (a) (b)<br>| 1150000 | &nbsp;&nbsp;&nbsp; 1172343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5Y USD SOFR ICE Swap + 3.179%, 08/10/34 <br> (144A) (a) (b)<br>| 810000 | &nbsp;&nbsp;&nbsp; 833454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 5Y USD SOFR ICE Swap + 4.160%, 04/12/31 <br> (144A) (a) (b)<br>| 1295000 | &nbsp;&nbsp;&nbsp; 1397577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 5Y H15 + 4.745%, 11/13/28 (144A) (b) | 1245000 | &nbsp;&nbsp;&nbsp; 1371385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 5Y H15 + 4.758%, 11/13/33 (144A) (b) | 1404000 | &nbsp;&nbsp;&nbsp; 1671977 |
| Walker & Dunlop, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 04/01/33 (144A) (a) | 395000 | &nbsp;&nbsp;&nbsp; 403945 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 5Y H15 + 2.767%, 09/15/29 (b) | 475000 | &nbsp;&nbsp;&nbsp; 499173 |
|  |  | &nbsp;&nbsp;&nbsp; 31627872 |

---

**BHFTI-55**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Building Materials — 2.0%** | **Building Materials — 2.0%** | **Building Materials — 2.0%** |
| AmeriTex HoldCo Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 08/15/33 (144A) (a) | 618000 | &nbsp;&nbsp;&nbsp; $643207 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/34 (144A) | 444000 | &nbsp;&nbsp;&nbsp; 457367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/35 (144A) | 460000 | &nbsp;&nbsp;&nbsp; 480301 |
| CP Atlas Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/15/30 (144A) (a) | 188000 | &nbsp;&nbsp;&nbsp; 196892 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 12/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 122657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 12/15/30 (144A) (EUR) | 415000 | &nbsp;&nbsp;&nbsp; 509027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/15/30 (144A) | 4317000 | &nbsp;&nbsp;&nbsp; 4437656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/15/31 (144A) (a) | 527000 | &nbsp;&nbsp;&nbsp; 547371 |
| HT Troplast GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 07/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 122614 |
| JELD-WEN, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/15/27 (144A) (a) | 605000 | &nbsp;&nbsp;&nbsp; 590393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/01/32 (144A) (a) | 549000 | &nbsp;&nbsp;&nbsp; 463618 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/31/31 (144A) (a) | 654000 | &nbsp;&nbsp;&nbsp; 664016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 07/31/32 (144A) | 575000 | &nbsp;&nbsp;&nbsp; 588958 |
| New Enterprise Stone & Lime Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/28 (144A) | 222000 | &nbsp;&nbsp;&nbsp; 219951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/15/28 (144A) | 470000 | &nbsp;&nbsp;&nbsp; 471043 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/32 (144A) | 3282000 | &nbsp;&nbsp;&nbsp; 3399640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/33 (144A) (a) | 687000 | &nbsp;&nbsp;&nbsp; 714270 |
| Smyrna Ready Mix Concrete LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/28 (144A) | 204000 | &nbsp;&nbsp;&nbsp; 204065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 11/15/31 (144A) (a) | 630000 | &nbsp;&nbsp;&nbsp; 665244 |
| Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/01/33 (144A) | 1740000 | &nbsp;&nbsp;&nbsp; 1763290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/15/32 (144A) | 1172000 | &nbsp;&nbsp;&nbsp; 1202497 |
| Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/21/26 (EUR) | 162705 | &nbsp;&nbsp;&nbsp; 189683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 01/15/31 (144A) | 461000 | &nbsp;&nbsp;&nbsp; 417467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 07/15/30 (144A) | 857000 | &nbsp;&nbsp;&nbsp; 821674 |
| Wilsonart LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 08/15/32 (144A) (a) | 959000 | &nbsp;&nbsp;&nbsp; 933537 |
|  |  | &nbsp;&nbsp;&nbsp; 20826438 |
| **Chemicals — 2.8%** | **Chemicals — 2.8%** | **Chemicals — 2.8%** |
| Advancion Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10.000% PIK, 11/01/26 (144A) (c) | 875164 | &nbsp;&nbsp;&nbsp; 774520 |
| Avient Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/01/31 (144A) | 164000 | &nbsp;&nbsp;&nbsp; 166546 |
| Axalta Coating Systems Dutch Holding B BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31 (144A) | 897000 | &nbsp;&nbsp;&nbsp; 938459 |
| Axalta Coating Systems LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/15/29 (144A) (a) | 520000 | &nbsp;&nbsp;&nbsp; 492650 |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/33 (a) | 497000 | &nbsp;&nbsp;&nbsp; 494903 |
| Chemours Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/15/27 (a) | 958000 | &nbsp;&nbsp;&nbsp; 957208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/28 (144A) (a) | 1761000 | &nbsp;&nbsp;&nbsp; 1717635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 01/15/33 (144A) | 432000 | &nbsp;&nbsp;&nbsp; 429695 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Chemicals—(Continued)** | **Chemicals—(Continued)** | **Chemicals—(Continued)** |
| Element Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/28 (144A) | 3055000 | &nbsp;&nbsp;&nbsp; $2960698 |
| HB Fuller Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/28 | 257000 | &nbsp;&nbsp;&nbsp; 249901 |
| Herens Holdco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/28 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 525653 |
| Ingevity Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/01/28 (144A) (a) | 191000 | &nbsp;&nbsp;&nbsp; 183518 |
| Inversion Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/32 (144A) (a) | 1641000 | &nbsp;&nbsp;&nbsp; 1616572 |
| Itelyum Regeneration SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119447 |
| Kronos International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 03/15/29 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 247448 |
| Lune Holdings SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 11/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 36264 |
| Mativ Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/29 (144A) | 393000 | &nbsp;&nbsp;&nbsp; 389093 |
| Methanex U.S. Operations, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/32 (144A) (a) | 382000 | &nbsp;&nbsp;&nbsp; 388673 |
| Minerals Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/28 (144A) (a) | 365000 | &nbsp;&nbsp;&nbsp; 357702 |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/01/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 111349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/15/33 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/29 (144A) (a) | 500000 | &nbsp;&nbsp;&nbsp; 485498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/31 (144A) (a) | 2650000 | &nbsp;&nbsp;&nbsp; 2686504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/33 (144A) | 2626000 | &nbsp;&nbsp;&nbsp; 2628735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 11/15/28 (EUR) | 123000 | &nbsp;&nbsp;&nbsp; 151458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 11/15/28 (144A) | 1776000 | &nbsp;&nbsp;&nbsp; 1863912 |
| SK Invictus Intermediate II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/30/29 (144A) (a) | 1639000 | &nbsp;&nbsp;&nbsp; 1604184 |
| Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/33 (144A) | 1151000 | &nbsp;&nbsp;&nbsp; 1154803 |
| WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/27 (144A) | 291000 | &nbsp;&nbsp;&nbsp; 289195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/29 (144A) (a) | 3468000 | &nbsp;&nbsp;&nbsp; 3223498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/32 (144A) | 1392000 | &nbsp;&nbsp;&nbsp; 1376382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 03/01/31 (144A) (a) | 880000 | &nbsp;&nbsp;&nbsp; 897432 |
|  |  | &nbsp;&nbsp;&nbsp; 29637220 |
| **Commercial Services — 6.3%** | **Commercial Services — 6.3%** | **Commercial Services — 6.3%** |
| ADT Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/15/32 (144A) (a) | 513000 | &nbsp;&nbsp;&nbsp; 496813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/33 (144A) | 1264000 | &nbsp;&nbsp;&nbsp; 1264000 |
| Albion Financing 1 SARL/Aggreko Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/21/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/21/30 (144A) | 1305000 | &nbsp;&nbsp;&nbsp; 1349762 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 02/15/31 (144A) (a) | 5926000 | &nbsp;&nbsp;&nbsp; 6213386 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29 (144A) (a) | 3376000 | &nbsp;&nbsp;&nbsp; 3318790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 06/15/30 (144A) | 2106000 | &nbsp;&nbsp;&nbsp; 2164610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas <br> Luxco 4 SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/28 (144A) (a) | 4229000 | &nbsp;&nbsp;&nbsp; 4146115 |

---

**BHFTI-56**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Services—(Continued)** | **Commercial Services—(Continued)** | **Commercial Services—(Continued)** |
| Amber Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/29 (EUR) | 114000 | &nbsp;&nbsp;&nbsp; $140675 |
| APCOA Group GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118881 |
| APi Group DE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/15/29 (144A) | 352000 | &nbsp;&nbsp;&nbsp; 339262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/29 (144A) | 276000 | &nbsp;&nbsp;&nbsp; 270566 |
| Arena Luxembourg Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.517%, 3M EURIBOR + 2.500%, 05/01/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 118132 |
| BCP V Modular Services Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/30/28 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 224787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/30/28 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 125558 |
| Belron U.K. Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/29 (144A) (a) | 1431000 | &nbsp;&nbsp;&nbsp; 1449652 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 06/01/26 | 350000 | &nbsp;&nbsp;&nbsp; 345402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/30 (144A) | 955000 | &nbsp;&nbsp;&nbsp; 967585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/33 (144A) | 1468000 | &nbsp;&nbsp;&nbsp; 1503291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/32 | 3386000 | &nbsp;&nbsp;&nbsp; 3504530 |
| Boels Topholding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121242 |
| Boost Newco Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/31 (144A) | 1586000 | &nbsp;&nbsp;&nbsp; 1682578 |
| Brink's Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/29 (144A) | 421000 | &nbsp;&nbsp;&nbsp; 433251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 06/15/32 (144A) (a) | 986000 | &nbsp;&nbsp;&nbsp; 1025583 |
| Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/01/28 (144A) | 2412000 | &nbsp;&nbsp;&nbsp; 2321195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/01/29 (144A) (a) | 1771000 | &nbsp;&nbsp;&nbsp; 1673646 |
| Deluxe Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 09/15/29 (144A) (a) | 317000 | &nbsp;&nbsp;&nbsp; 331016 |
| EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/33 (144A) (a) | 356000 | &nbsp;&nbsp;&nbsp; 380472 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/27 (144A) (a) | 749000 | &nbsp;&nbsp;&nbsp; 743317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29 (144A) (a) | 175000 | &nbsp;&nbsp;&nbsp; 173499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/15/28 (144A) | 995000 | &nbsp;&nbsp;&nbsp; 1019978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/01/32 (144A) | 2277000 | &nbsp;&nbsp;&nbsp; 2360322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/15/32 (144A) | 2368000 | &nbsp;&nbsp;&nbsp; 2458047 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 06/15/29 (144A) (a) | 54000 | &nbsp;&nbsp;&nbsp; 55485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/15/30 (144A) (a) | 1065000 | &nbsp;&nbsp;&nbsp; 1106243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/33 (144A) | 541000 | &nbsp;&nbsp;&nbsp; 564751 |
| Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.625%, 07/15/29 (144A) | 379000 | &nbsp;&nbsp;&nbsp; 401796 |
| ION Platform Finance SAR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/30/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117405 |
| ION Platform Finance U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/30/32 (144A) | 2916000 | &nbsp;&nbsp;&nbsp; 2899320 |
| Kapla Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/30/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.514%, 3M EURIBOR + 3.500%, 07/31/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 117866 |
| La Financiere Atalian SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 5.000% PIK, 06/30/28 (EUR) (c) | 147660 | &nbsp;&nbsp;&nbsp; 60676 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Services—(Continued)** | **Commercial Services—(Continued)** | **Commercial Services—(Continued)** |
| Loxam SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; $117452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/31/29 (EUR) | 90000 | &nbsp;&nbsp;&nbsp; 109444 |
| Pachelbel Bidco SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.266%, 3M EURIBOR + 4.250%, 05/17/31 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 118281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 05/17/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 126495 |
| Prime Security Services Borrower LLC/Prime Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/28 (144A) | 764000 | &nbsp;&nbsp;&nbsp; 763331 |
| Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31 (144A) | 860000 | &nbsp;&nbsp;&nbsp; 883794 |
| RR Donnelley & Sons Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 08/01/29 (144A) | 1456000 | &nbsp;&nbsp;&nbsp; 1492203 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/15/31 | 653000 | &nbsp;&nbsp;&nbsp; 615677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/32 | 2513000 | &nbsp;&nbsp;&nbsp; 2545865 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/15/33 (144A) (EUR) | 715000 | &nbsp;&nbsp;&nbsp; 874076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/15/32 (144A) (a) | 2430000 | &nbsp;&nbsp;&nbsp; 2512355 |
| Sotheby's |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/15/27 (144A) | 2521000 | &nbsp;&nbsp;&nbsp; 2513896 |
| Sotheby's/Bidfair Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/01/29 (144A) | 622000 | &nbsp;&nbsp;&nbsp; 566755 |
| Verisure Holding AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/15/26 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/15/27 (EUR) | 80000 | &nbsp;&nbsp;&nbsp; 96338 |
| Veritiv Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 11/30/30 (144A) | 399000 | &nbsp;&nbsp;&nbsp; 428218 |
| Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 01/30/32 (144A) | 1230000 | &nbsp;&nbsp;&nbsp; 1295953 |
| WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/15/33 (144A) (a) | 999000 | &nbsp;&nbsp;&nbsp; 1020262 |
| Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/15/28 (144A) (a) | 251000 | &nbsp;&nbsp;&nbsp; 246781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 04/15/30 (144A) (a) | 854000 | &nbsp;&nbsp;&nbsp; 878992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/01/31 (144A) (a) | 245000 | &nbsp;&nbsp;&nbsp; 255864 |
|  |  | &nbsp;&nbsp;&nbsp; 66172246 |
| **Computers — 0.9%** | **Computers — 0.9%** | **Computers — 0.9%** |
| Almaviva-The Italian Innovation Co. SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/30/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119264 |
| Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/01/32 (144A) | 685000 | &nbsp;&nbsp;&nbsp; 711281 |
| Atos SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 12/18/32 (EUR) (e) | 101086 | &nbsp;&nbsp;&nbsp; 61272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/18/30 (EUR) (e) | 158054 | &nbsp;&nbsp;&nbsp; 174999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 12/18/29 (EUR) (e) | 112974 | &nbsp;&nbsp;&nbsp; 152588 |
| CA Magnum Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/31/26 (144A) | 2000000 | &nbsp;&nbsp;&nbsp; 1991236 |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/15/33 (144A) | 934000 | &nbsp;&nbsp;&nbsp; 963468 |
| Cedacri SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.536%, 3M EURIBOR + 5.500%, 05/15/28 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 118610 |
| Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/01/31 (144A) (a) | 1456000 | &nbsp;&nbsp;&nbsp; 1524492 |

---

**BHFTI-57**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Computers—(Continued)** | **Computers—(Continued)** | **Computers—(Continued)** |
| KBR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 09/30/28 (144A) (a) | 515000 | &nbsp;&nbsp;&nbsp; $509319 |
| McAfee Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/30 (144A) (a) | 1180000 | &nbsp;&nbsp;&nbsp; 1094558 |
| Science Applications International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/01/28 (144A) | 264000 | &nbsp;&nbsp;&nbsp; 261328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/33 (144A) | 656000 | &nbsp;&nbsp;&nbsp; 656204 |
| Seagate Data Storage Technology Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/15/30 (144A) | 682000 | &nbsp;&nbsp;&nbsp; 693878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 07/15/31 (144A) | 674000 | &nbsp;&nbsp;&nbsp; 713535 |
|  |  | &nbsp;&nbsp;&nbsp; 9746032 |
| **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** |
| Opal Bidco SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/31/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/31/32 (144A) | 863000 | &nbsp;&nbsp;&nbsp; 884356 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/30/32 (a) | 922000 | &nbsp;&nbsp;&nbsp; 928182 |
|  |  | &nbsp;&nbsp;&nbsp; 1934050 |
| **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |
| American Builders & Contractors Supply Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/29 (144A) | 24000 | &nbsp;&nbsp;&nbsp; 22771 |
| Gates Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/01/29 (144A) | 803000 | &nbsp;&nbsp;&nbsp; 833233 |
| Resideo Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/15/32 (144A) (a) | 708000 | &nbsp;&nbsp;&nbsp; 725633 |
|  |  | &nbsp;&nbsp;&nbsp; 1581637 |
| **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** |
| Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5Y H15 + 2.168%, 12/15/54 (b) | 921000 | &nbsp;&nbsp;&nbsp; 914926 |
| Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/31 (144A) | 313000 | &nbsp;&nbsp;&nbsp; 325924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/15/30 (144A) | 428000 | &nbsp;&nbsp;&nbsp; 450422 |
| Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 5Y H15 + 4.300%, 06/15/35 (144A) (b) | 112000 | &nbsp;&nbsp;&nbsp; 115006 |
| Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 5Y H15 + 2.076%, 01/15/55 (a) (b) | 1480000 | &nbsp;&nbsp;&nbsp; 1467373 |
| CrossCountry Intermediate HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/30 (144A) | 687000 | &nbsp;&nbsp;&nbsp; 689528 |
| Encore Issuances SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.047%, 3M EURIBOR + 10.000%, 11/06/25 (EUR) (b) | 12961 | &nbsp;&nbsp;&nbsp; 13957 |
| Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/31 (144A) (a) | 1152000 | &nbsp;&nbsp;&nbsp; 1179784 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/01/32 (144A) (a) | 450000 | &nbsp;&nbsp;&nbsp; 471667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 05/15/31 (144A) | 788000 | &nbsp;&nbsp;&nbsp; 838079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 02/01/29 (144A) | 453000 | &nbsp;&nbsp;&nbsp; 476636 |
| Garfunkelux Holdco 3 SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/01/28 (EUR) | 59000 | &nbsp;&nbsp;&nbsp; 70419 |
| GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/30 (144A) | 564000 | &nbsp;&nbsp;&nbsp; 571048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29 (144A) (a) | 701000 | &nbsp;&nbsp;&nbsp; 726945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/28 (144A) (a) | 335000 | &nbsp;&nbsp;&nbsp; 354582 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** |
| Global Aircraft Leasing Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 09/01/27 (144A) (a) | 880000 | &nbsp;&nbsp;&nbsp; $909161 |
| Jane Street Group/JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/01/32 (144A) | 206000 | &nbsp;&nbsp;&nbsp; 208793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/33 (144A) | 354000 | &nbsp;&nbsp;&nbsp; 367677 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/28 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 579711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/31 (144A) | 209000 | &nbsp;&nbsp;&nbsp; 210392 |
| Lehman Brothers Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/05/14 (EUR) (d) | 4500000 | &nbsp;&nbsp;&nbsp; 15850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/16/14 (EUR) (d) | 2140000 | &nbsp;&nbsp;&nbsp; 7537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/17/12 (EUR) (d) | 350000 | &nbsp;&nbsp;&nbsp; 1233 |
| Midcap Financial Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/15/30 (144A) | 800000 | &nbsp;&nbsp;&nbsp; 754328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/01/28 (144A) | 1000000 | &nbsp;&nbsp;&nbsp; 993151 |
| Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/15/30 (144A) | 571000 | &nbsp;&nbsp;&nbsp; 576025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/31 (144A) | 297000 | &nbsp;&nbsp;&nbsp; 300119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/01/29 (144A) | 1062000 | &nbsp;&nbsp;&nbsp; 1089493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/01/32 (144A) | 1529000 | &nbsp;&nbsp;&nbsp; 1595975 |
| Navient Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 06/15/32 (a) | 723000 | &nbsp;&nbsp;&nbsp; 760783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 07/25/30 | 616000 | &nbsp;&nbsp;&nbsp; 680846 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/15/30 (a) | 437000 | &nbsp;&nbsp;&nbsp; 406216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/29 | 985000 | &nbsp;&nbsp;&nbsp; 973833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 05/15/30 | 914000 | &nbsp;&nbsp;&nbsp; 925594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/15/33 | 1189000 | &nbsp;&nbsp;&nbsp; 1190879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/29 | 696000 | &nbsp;&nbsp;&nbsp; 715398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/32 | 916000 | &nbsp;&nbsp;&nbsp; 932965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 11/15/31 (a) | 274000 | &nbsp;&nbsp;&nbsp; 284133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 09/15/32 | 596000 | &nbsp;&nbsp;&nbsp; 615691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/15/31 (a) | 324000 | &nbsp;&nbsp;&nbsp; 338697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 03/15/30 | 567000 | &nbsp;&nbsp;&nbsp; 599974 |
| Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/32 (144A) | 353000 | &nbsp;&nbsp;&nbsp; 364591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/01/33 (144A) | 587000 | &nbsp;&nbsp;&nbsp; 608365 |
| PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/34 (144A) (a) | 457000 | &nbsp;&nbsp;&nbsp; 466179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 05/15/32 (144A) | 731000 | &nbsp;&nbsp;&nbsp; 757460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 11/15/30 (144A) | 345000 | &nbsp;&nbsp;&nbsp; 359235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/15/29 (144A) | 554000 | &nbsp;&nbsp;&nbsp; 587959 |
| Phoenix Aviation Capital Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 07/15/30 (144A) | 1192000 | &nbsp;&nbsp;&nbsp; 1268185 |
| PRA Group Europe Holding II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/30/32 (EUR) | 101000 | &nbsp;&nbsp;&nbsp; 116830 |
| Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 08/01/30 (144A) | 3179000 | &nbsp;&nbsp;&nbsp; 3262671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/01/33 (144A) | 2720000 | &nbsp;&nbsp;&nbsp; 2807350 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/15/26 (144A) | 912000 | &nbsp;&nbsp;&nbsp; 893331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31 (144A) | 95000 | &nbsp;&nbsp;&nbsp; 88715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/33 (144A) (a) | 75000 | &nbsp;&nbsp;&nbsp; 68496 |
| Titanium 2l Bondco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/14/31 (EUR) (c) | 437300 | &nbsp;&nbsp;&nbsp; 132658 |

---

**BHFTI-58**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** |
| UWM Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/31 (144A) | 490000 | &nbsp;&nbsp;&nbsp; $487666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 02/01/30 (144A) (a) | 977000 | &nbsp;&nbsp;&nbsp; 993886 |
|  |  | &nbsp;&nbsp;&nbsp; 37964327 |
| **Electric — 2.6%** | **Electric — 2.6%** | **Electric — 2.6%** |
| AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.600%, 5Y H15 + 3.201%, 01/15/55 (b) | 770000 | &nbsp;&nbsp;&nbsp; 797609 |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/32 (144A) (a) | 882000 | &nbsp;&nbsp;&nbsp; 910480 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/32 (144A) | 587000 | &nbsp;&nbsp;&nbsp; 601635 |
| Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/28 (144A) | 21000 | &nbsp;&nbsp;&nbsp; 20911 |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 5Y H15 + 2.946%, 02/15/55 (b) | 227000 | &nbsp;&nbsp;&nbsp; 240780 |
| Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/32 (144A) | 721000 | &nbsp;&nbsp;&nbsp; 647197 |
| ContourGlobal Power Holdings SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/28/30 (144A) | 1400000 | &nbsp;&nbsp;&nbsp; 1454236 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5Y H15 + 2.207%, 05/15/55 (b) | 175000 | &nbsp;&nbsp;&nbsp; 181112 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 5Y H15 + 2.588%, 09/01/54 (a) (b) | 400000 | &nbsp;&nbsp;&nbsp; 422511 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 5Y H15 + 4.698%, 03/09/26 (b) | 1098000 | &nbsp;&nbsp;&nbsp; 1066015 |
| EDP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 5Y EUR Swap + 2.380%, 08/02/81 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 116308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5Y EUR Swap + 2.052%, 05/29/54 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 121485 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5Y EUR Swap + 3.373%, 12/15/26 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 231644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5Y EUR Swap + 3.198%, 09/03/27 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 230781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5Y EUR Swap + 2.074%, 01/06/31 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 116525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5Y EUR Swap + 2.943%, 09/17/29 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 242311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 13Y GBP Swap + 4.235%, 01/29/26 (GBP) (b) | 100000 | &nbsp;&nbsp;&nbsp; 134902 |
| Enel SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5Y EUR Swap + 2.009%, 01/14/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 119135 |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/32 (144A) † | 237000 | &nbsp;&nbsp;&nbsp; 250916 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y H15 + 2.053%, 08/15/55 (a) (b) | 640000 | &nbsp;&nbsp;&nbsp; 664551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5Y H15 + 2.457%, 06/15/54 (b) | 395000 | &nbsp;&nbsp;&nbsp; 424519 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/34 (144A) | 1685000 | &nbsp;&nbsp;&nbsp; 1683280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/33 (144A) | 1956000 | &nbsp;&nbsp;&nbsp; 1986457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/36 (144A) | 4494000 | &nbsp;&nbsp;&nbsp; 4494645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/01/34 (144A) (a) | 1613000 | &nbsp;&nbsp;&nbsp; 1653472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.250%, 5Y H15 + 5.920%, 03/15/28 (144A) (b) | 1539000 | &nbsp;&nbsp;&nbsp; 1678073 |
| Orsted AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5Y UKG + 2.136%, 12/31/99 (GBP) (b) | 100000 | &nbsp;&nbsp;&nbsp; 100889 |
| Pattern Energy Operations LP/Pattern Energy Operations, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/28 (144A) | 109000 | &nbsp;&nbsp;&nbsp; 106235 |
| Pike Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 01/31/31 (144A) | 243000 | &nbsp;&nbsp;&nbsp; 260678 |
| Terna - Rete Elettrica Nazionale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5Y EUR Swap + 2.142%, 01/11/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 121991 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Vistra Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 5Y H15 + 5.740%, 12/15/26 (144A) (b) | 2192000 | &nbsp;&nbsp;&nbsp; $2225472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 5Y H15 + 6.930%, 10/15/26 (144A) (b) | 492000 | &nbsp;&nbsp;&nbsp; 503246 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/32 (144A) | 902000 | &nbsp;&nbsp;&nbsp; 943381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/15/31 (144A) | 636000 | &nbsp;&nbsp;&nbsp; 673010 |
| XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/15/31 (144A) (a) | 1831000 | &nbsp;&nbsp;&nbsp; 1918888 |
|  |  | &nbsp;&nbsp;&nbsp; 27345280 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Prysmian SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5Y EUR Swap + 3.012%, 05/21/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 122470 |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/33 (144A) | 425000 | &nbsp;&nbsp;&nbsp; 440567 |
|  |  | &nbsp;&nbsp;&nbsp; 563037 |
| **Electronics — 0.4%** | **Electronics — 0.4%** | **Electronics — 0.4%** |
| Coherent Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/29 (144A) (a) | 779000 | &nbsp;&nbsp;&nbsp; 768253 |
| Imola Merger Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/29 (144A) | 535000 | &nbsp;&nbsp;&nbsp; 520354 |
| Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/31 (144A) | 210000 | &nbsp;&nbsp;&nbsp; 193805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/30 (144A) | 1262000 | &nbsp;&nbsp;&nbsp; 1218027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/32 (144A) (a) | 1255000 | &nbsp;&nbsp;&nbsp; 1298646 |
|  |  | &nbsp;&nbsp;&nbsp; 3999085 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| AECOM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/33 (144A) | 1937000 | &nbsp;&nbsp;&nbsp; 1980369 |
| Arcosa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/15/32 (144A) (a) | 737000 | &nbsp;&nbsp;&nbsp; 769791 |
| Brand Industrial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.375%, 08/01/30 (144A) (a) | 2876000 | &nbsp;&nbsp;&nbsp; 2866834 |
| Dycom Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/15/29 (144A) | 304000 | &nbsp;&nbsp;&nbsp; 296900 |
| Heathrow Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 09/01/29 (GBP) (e) | 100000 | &nbsp;&nbsp;&nbsp; 125039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/01/31 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 135134 |
|  |  | &nbsp;&nbsp;&nbsp; 6174067 |
| **Entertainment — 2.4%** | **Entertainment — 2.4%** | **Entertainment — 2.4%** |
| Allwyn Entertainment Financing U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 04/30/30 (EUR) | 90000 | &nbsp;&nbsp;&nbsp; 111077 |
| Banijay Entertainment SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121724 |
| Boyne USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/29 (144A) (a) | 726000 | &nbsp;&nbsp;&nbsp; 712274 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29 (144A) (a) | 126000 | &nbsp;&nbsp;&nbsp; 120486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/32 (144A) (a) | 848000 | &nbsp;&nbsp;&nbsp; 864950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/30 (144A) | 809000 | &nbsp;&nbsp;&nbsp; 832143 |
| Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/30 (144A) (a) | 1775000 | &nbsp;&nbsp;&nbsp; 1773400 |

---

**BHFTI-59**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Entertainment—(Continued)** | **Entertainment—(Continued)** | **Entertainment—(Continued)** |
| Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/31 (144A) | 1101000 | &nbsp;&nbsp;&nbsp; $1128366 |
| Cinemark USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/01/32 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 207871 |
| Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/04/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/04/31 (144A) | 1358000 | &nbsp;&nbsp;&nbsp; 1378397 |
| Great Canadian Gaming Corp./Raptor LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 11/15/29 (144A) | 1008000 | &nbsp;&nbsp;&nbsp; 996747 |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/33 (144A) | 673000 | &nbsp;&nbsp;&nbsp; 674144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 11/15/29 (144A) | 290000 | &nbsp;&nbsp;&nbsp; 297648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/01/31 (144A) | 495000 | &nbsp;&nbsp;&nbsp; 514779 |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/28 (144A) | 249000 | &nbsp;&nbsp;&nbsp; 242939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/27 (144A) | 219000 | &nbsp;&nbsp;&nbsp; 217551 |
| Merlin Entertainments Group U.S. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/31 (144A) | 800000 | &nbsp;&nbsp;&nbsp; 689362 |
| Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/01/29 (144A) | 266000 | &nbsp;&nbsp;&nbsp; 258579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital Entertainment <br> Holdings LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 04/15/30 (144A) | 682000 | &nbsp;&nbsp;&nbsp; 708625 |
| Odeon Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.750%, 11/01/27 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 621451 |
| Pinewood Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/27/30 (GBP) | 125000 | &nbsp;&nbsp;&nbsp; 169082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/01/29 (144A) | 307000 | &nbsp;&nbsp;&nbsp; 165780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/01/31 (144A) | 450000 | &nbsp;&nbsp;&nbsp; 232003 |
| Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 02/01/33 (144A) | 458000 | &nbsp;&nbsp;&nbsp; 464107 |
| Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30 (144A) | 389000 | &nbsp;&nbsp;&nbsp; 392468 |
| Scientific Games Holdings LP/Scientific Games U.S. FinCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/01/30 (144A) | 745000 | &nbsp;&nbsp;&nbsp; 692636 |
| Starz Capital Holdings 1, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/30 (144A) | 960000 | &nbsp;&nbsp;&nbsp; 910406 |
| Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/30 (144A) (a) | 516000 | &nbsp;&nbsp;&nbsp; 519225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/32 (144A) (a) | 674000 | &nbsp;&nbsp;&nbsp; 696882 |
| Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 07/01/32 (144A) | 832000 | &nbsp;&nbsp;&nbsp; 879832 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/15/42 (a) | 5028000 | &nbsp;&nbsp;&nbsp; 4013953 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/01/29 (144A) (a) | 740000 | &nbsp;&nbsp;&nbsp; 741141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33 (144A) | 1230000 | &nbsp;&nbsp;&nbsp; 1249040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/15/31 (144A) | 1351000 | &nbsp;&nbsp;&nbsp; 1454143 |
|  |  | &nbsp;&nbsp;&nbsp; 25170862 |
| **Environmental Control — 1.0%** | **Environmental Control — 1.0%** | **Environmental Control — 1.0%** |
| Clean Harbors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/15/29 (144A) | 402000 | &nbsp;&nbsp;&nbsp; 398659 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Environmental Control—(Continued)** | **Environmental Control—(Continued)** | **Environmental Control—(Continued)** |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/28 (144A) | 476000 | &nbsp;&nbsp;&nbsp; $464709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/29 (144A) (a) | 689000 | &nbsp;&nbsp;&nbsp; 672195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/29 (144A) | 785000 | &nbsp;&nbsp;&nbsp; 774259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/31 (144A) | 1193000 | &nbsp;&nbsp;&nbsp; 1248380 |
| Luna 1.5 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 07/01/32 (144A) (EUR) (c) | 300000 | &nbsp;&nbsp;&nbsp; 364992 |
| Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/30/28 (144A) | 583000 | &nbsp;&nbsp;&nbsp; 568985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/30/29 (144A) | 1613000 | &nbsp;&nbsp;&nbsp; 1593483 |
| Reworld Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/01/29 (144A) | 438000 | &nbsp;&nbsp;&nbsp; 411925 |
| Waste Pro USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/01/33 (144A) | 3263000 | &nbsp;&nbsp;&nbsp; 3379806 |
| Wrangler Holdco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 04/01/32 (144A) | 152000 | &nbsp;&nbsp;&nbsp; 158490 |
|  |  | &nbsp;&nbsp;&nbsp; 10035883 |
| **Food — 1.6%** | **Food — 1.6%** | **Food — 1.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33 (144A) | 560000 | &nbsp;&nbsp;&nbsp; 572712 |
| B&G Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 09/15/28 (144A) | 238000 | &nbsp;&nbsp;&nbsp; 230601 |
| Bellis Acquisition Co. PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 05/14/30 (GBP) | 180000 | &nbsp;&nbsp;&nbsp; 231669 |
| Chobani Holdco II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 9.500% PIK, 10/01/29 (144A) (a) (c) | 4191763 | &nbsp;&nbsp;&nbsp; 4442183 |
| Chobani LLC/Chobani Finance Corp., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/28 (144A) (a) | 1047000 | &nbsp;&nbsp;&nbsp; 1035307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 07/01/29 (144A) (a) | 2543000 | &nbsp;&nbsp;&nbsp; 2651706 |
| Darling Global Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/15/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/15/32 (144A) (EUR) | 500000 | &nbsp;&nbsp;&nbsp; 592677 |
| Fiesta Purchaser, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 03/01/31 (144A) | 51000 | &nbsp;&nbsp;&nbsp; 53822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 09/15/32 (144A) (a) | 237000 | &nbsp;&nbsp;&nbsp; 255863 |
| Froneri Lux FinCo SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/01/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118439 |
| Irca SpA/Gallarate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.764%, 3M EURIBOR + 3.750%, 12/15/29 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 118251 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeHE Distributors LLC/KeHE Finance Corp./NextWave <br> Distribution, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/15/29 (144A) | 431000 | &nbsp;&nbsp;&nbsp; 453478 |
| Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 01/31/32 (144A) | 945000 | &nbsp;&nbsp;&nbsp; 893140 |
| Lion/Polaris Lux 4 SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.641%, 3M EURIBOR + 3.625%, 07/01/29 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 118712 |
| Market Bidco Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/31/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 115935 |
| Ocado Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 06/15/30 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 135122 |
| Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/01/29 (144A) | 259000 | &nbsp;&nbsp;&nbsp; 251589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/32 (144A) (a) | 995000 | &nbsp;&nbsp;&nbsp; 1019189 |

---

**BHFTI-60**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Food—(Continued)** | **Food—(Continued)** | **Food—(Continued)** |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/32 (144A) | 25000 | &nbsp;&nbsp;&nbsp; $25702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/34 (144A) (a) | 653000 | &nbsp;&nbsp;&nbsp; 658435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/33 (144A) | 832000 | &nbsp;&nbsp;&nbsp; 839745 |
| Premier Foods Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/15/26 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 133242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons <br> Pet Food, Inc./Simmons Feed<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/29 (144A) | 652000 | &nbsp;&nbsp;&nbsp; 625052 |
| U.S. Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/32 (144A) | 657000 | &nbsp;&nbsp;&nbsp; 687841 |
| United Natural Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/28 (144A) | 602000 | &nbsp;&nbsp;&nbsp; 601952 |
|  |  | &nbsp;&nbsp;&nbsp; 16980899 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/28 (144A) | 236000 | &nbsp;&nbsp;&nbsp; 234887 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| Ahlstrom Holding 3 OYJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 02/04/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 116375 |
| Magnera Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 11/15/31 (144A) (a) | 351000 | &nbsp;&nbsp;&nbsp; 330284 |
| Sappi Papier Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/15/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 115815 |
|  |  | &nbsp;&nbsp;&nbsp; 562474 |
| **Gas — 0.8%** | **Gas — 0.8%** | **Gas — 0.8%** |
| AltaGas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 5Y H15 + 3.573%, 10/15/54 (144A) (b) | 560000 | &nbsp;&nbsp;&nbsp; 579271 |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 06/01/30 (144A) | 340000 | &nbsp;&nbsp;&nbsp; 355939 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/15/34 (144A) | 2455000 | &nbsp;&nbsp;&nbsp; 2584274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/36 (144A) | 2561000 | &nbsp;&nbsp;&nbsp; 2720235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/01/33 (144A) | 982000 | &nbsp;&nbsp;&nbsp; 1085120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/01/35 (144A) | 895000 | &nbsp;&nbsp;&nbsp; 1010194 |
|  |  | &nbsp;&nbsp;&nbsp; 8335033 |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| IMA Industria Macchine Automatiche SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 116934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.776%, 3M EURIBOR + 3.750%, 04/15/29 (EUR) (b) | 200000 | &nbsp;&nbsp;&nbsp; 236984 |
|  |  | &nbsp;&nbsp;&nbsp; 353918 |
| **Healthcare-Products — 1.0%** | **Healthcare-Products — 1.0%** | **Healthcare-Products — 1.0%** |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 11/01/25 (EUR) | 102308 | &nbsp;&nbsp;&nbsp; 120060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 07/15/28 (144A) | 928000 | &nbsp;&nbsp;&nbsp; 912834 |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 10/01/28 (144A) | 3047000 | &nbsp;&nbsp;&nbsp; 3175545 |
| Insulet Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/33 (144A) | 653000 | &nbsp;&nbsp;&nbsp; 678880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Products—(Continued)** | **Healthcare-Products—(Continued)** | **Healthcare-Products—(Continued)** |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/01/29 (144A) | 523000 | &nbsp;&nbsp;&nbsp; $504404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/29 (144A) (a) | 4263000 | &nbsp;&nbsp;&nbsp; 4226139 |
| Medline Borrower LP/Medline Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/01/29 (144A) | 1028000 | &nbsp;&nbsp;&nbsp; 1054116 |
| Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 07/20/30 (144A) (a) | 271000 | &nbsp;&nbsp;&nbsp; 283390 |
|  |  | &nbsp;&nbsp;&nbsp; 11072550 |
| **Healthcare-Services — 2.6%** | **Healthcare-Services — 2.6%** | **Healthcare-Services — 2.6%** |
| Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 03/15/33 (144A) (a) | 280000 | &nbsp;&nbsp;&nbsp; 290693 |
| AHP Health Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/15/29 (144A) | 891000 | &nbsp;&nbsp;&nbsp; 876874 |
| Charles River Laboratories International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/15/31 (144A) | 100000 | &nbsp;&nbsp;&nbsp; 93136 |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/31 (144A) | 705000 | &nbsp;&nbsp;&nbsp; 609648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30 (144A) | 2526000 | &nbsp;&nbsp;&nbsp; 2285131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/29 (144A) (a) | 894000 | &nbsp;&nbsp;&nbsp; 867752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 01/15/34 (144A) | 2375000 | &nbsp;&nbsp;&nbsp; 2433188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.875%, 01/15/32 (144A) (a) | 1163000 | &nbsp;&nbsp;&nbsp; 1231730 |
| Clariane SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 06/27/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120625 |
| Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/15/32 (144A) (a) | 996000 | &nbsp;&nbsp;&nbsp; 1034228 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/15/33 (144A) | 464000 | &nbsp;&nbsp;&nbsp; 478476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/01/32 (144A) (a) | 336000 | &nbsp;&nbsp;&nbsp; 347100 |
| Ephios Subco 3 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 01/31/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 124986 |
| Fortrea Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/01/30 (144A) (a) | 249000 | &nbsp;&nbsp;&nbsp; 235788 |
| HAH Group Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 10/01/31 (144A) (a) | 401000 | &nbsp;&nbsp;&nbsp; 380981 |
| HealthEquity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/29 (144A) | 1602000 | &nbsp;&nbsp;&nbsp; 1553340 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 03/15/26 (EUR) | 240000 | &nbsp;&nbsp;&nbsp; 280075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 06/01/32 (144A) | 2453000 | &nbsp;&nbsp;&nbsp; 2522030 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 02/15/32 (144A) | 554000 | &nbsp;&nbsp;&nbsp; 590402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 08/15/30 (144A) | 243000 | &nbsp;&nbsp;&nbsp; 263154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 06/01/32 (144A) | 838000 | &nbsp;&nbsp;&nbsp; 879866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 10/15/30 (144A) (a) | 2130000 | &nbsp;&nbsp;&nbsp; 2347594 |
| Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/33 (144A) (a) | 618000 | &nbsp;&nbsp;&nbsp; 624865 |
| Prime Healthcare Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 09/01/29 (144A) | 173000 | &nbsp;&nbsp;&nbsp; 179920 |
| Sotera Health Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 06/01/31 (144A) | 524000 | &nbsp;&nbsp;&nbsp; 550209 |
| Star Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 10/01/30 (144A) (a) | 1086000 | &nbsp;&nbsp;&nbsp; 1148112 |
| Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 04/15/32 (144A) | 2270000 | &nbsp;&nbsp;&nbsp; 2331848 |

---

**BHFTI-61**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/31 (a) | 1595000 | &nbsp;&nbsp;&nbsp; $1651270 |
| U.S. Acute Care Solutions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/15/29 (144A) | 762000 | &nbsp;&nbsp;&nbsp; 780275 |
|  |  | &nbsp;&nbsp;&nbsp; 27113296 |
| **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** |
| Progroup AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/15/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 04/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118546 |
| Stena International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/31 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 203904 |
|  |  | &nbsp;&nbsp;&nbsp; 441950 |
| **Home Builders — 0.7%** | **Home Builders — 0.7%** | **Home Builders — 0.7%** |
| Ashton Woods USA LLC/Ashton Woods Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/01/29 (144A) (a) | 270000 | &nbsp;&nbsp;&nbsp; 258545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/33 (144A) | 383000 | &nbsp;&nbsp;&nbsp; 386285 |
| Beazer Homes USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/27 | 150000 | &nbsp;&nbsp;&nbsp; 149906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc./Brookfield Residential <br> U.S. LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 02/15/30 (144A) (a) | 679000 | &nbsp;&nbsp;&nbsp; 636793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/29 (144A) | 548000 | &nbsp;&nbsp;&nbsp; 522229 |
| Century Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/15/33 (144A) | 480000 | &nbsp;&nbsp;&nbsp; 484205 |
| Dream Finders Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/15/28 (144A) † | 277000 | &nbsp;&nbsp;&nbsp; 287375 |
| Empire Communities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/01/29 (144A) | 136000 | &nbsp;&nbsp;&nbsp; 142599 |
| K Hovnanian Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/01/31 (144A) | 825000 | &nbsp;&nbsp;&nbsp; 845982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 10/01/33 (144A) | 901000 | &nbsp;&nbsp;&nbsp; 923752 |
| LGI Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/15/32 (144A) (a) | 662000 | &nbsp;&nbsp;&nbsp; 646393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 12/15/28 (144A) | 353000 | &nbsp;&nbsp;&nbsp; 370587 |
| Mattamy Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/30 (144A) | 368000 | &nbsp;&nbsp;&nbsp; 355176 |
| New Home Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/29 (144A) | 604000 | &nbsp;&nbsp;&nbsp; 634221 |
| STL Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/15/29 (144A) | 320000 | &nbsp;&nbsp;&nbsp; 335333 |
|  |  | &nbsp;&nbsp;&nbsp; 6979381 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Somnigroup International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/31 (144A) | 171000 | &nbsp;&nbsp;&nbsp; 156614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/29 (144A) (a) | 288000 | &nbsp;&nbsp;&nbsp; 276407 |
| Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/30 | 233000 | &nbsp;&nbsp;&nbsp; 234825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33 (a) | 478000 | &nbsp;&nbsp;&nbsp; 477016 |
|  |  | &nbsp;&nbsp;&nbsp; 1144862 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/01/28 (144A) | 547000 | &nbsp;&nbsp;&nbsp; 578582 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Housewares—(Continued)** | **Housewares—(Continued)** | **Housewares—(Continued)** |
| Scotts Miracle-Gro Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/32 (a) | 614000 | &nbsp;&nbsp;&nbsp; $566914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/29 (a) | 102000 | &nbsp;&nbsp;&nbsp; 99099 |
|  |  | &nbsp;&nbsp;&nbsp; 1244595 |
| **Insurance — 5.6%** | **Insurance — 5.6%** | **Insurance — 5.6%** |
| Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/01/32 (144A) | 326000 | &nbsp;&nbsp;&nbsp; 335677 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/27 (144A) | 2118000 | &nbsp;&nbsp;&nbsp; 2082835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29 (144A) (a) | 2101000 | &nbsp;&nbsp;&nbsp; 2090044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27 (144A) | 1825000 | &nbsp;&nbsp;&nbsp; 1828931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/28 (144A) | 257000 | &nbsp;&nbsp;&nbsp; 261555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 01/15/31 (144A) | 2140000 | &nbsp;&nbsp;&nbsp; 2211109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/01/32 (144A) (a) | 2408000 | &nbsp;&nbsp;&nbsp; 2481281 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/30/29 (144A) (a) | 904000 | &nbsp;&nbsp;&nbsp; 878589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/29 (144A) | 375000 | &nbsp;&nbsp;&nbsp; 382625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/33 (144A) | 932000 | &nbsp;&nbsp;&nbsp; 954038 |
| &nbsp;&nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor <br> 2 LLC/APH3 Somerset Investor 2 LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 11/01/29 (144A) | 658000 | &nbsp;&nbsp;&nbsp; 686702 |
| Ardonagh Finco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/15/31 (EUR) | 705000 | &nbsp;&nbsp;&nbsp; 855533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/15/31 (144A) | 3422000 | &nbsp;&nbsp;&nbsp; 3580743 |
| Ardonagh Group Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/15/32 (144A) (a) | 3498000 | &nbsp;&nbsp;&nbsp; 3677428 |
| Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y H15 + 2.646%, 09/15/54 (b) | 645000 | &nbsp;&nbsp;&nbsp; 662027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. Refinance <br> 2 PLC/Howden U.S. Refinance LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31 (144A) | 3991000 | &nbsp;&nbsp;&nbsp; 4109018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/15/32 (144A) (a) | 1854000 | &nbsp;&nbsp;&nbsp; 1923521 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/30 (144A) (a) | 6416000 | &nbsp;&nbsp;&nbsp; 6691279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/31/32 (144A) (a) | 10791000 | &nbsp;&nbsp;&nbsp; 11237089 |
| Jones Deslauriers Insurance Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/01/33 (144A) | 977000 | &nbsp;&nbsp;&nbsp; 971879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/15/30 (144A) | 1423000 | &nbsp;&nbsp;&nbsp; 1495018 |
| Nassau Cos., of New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/15/30 (144A) | 265000 | &nbsp;&nbsp;&nbsp; 270649 |
| Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/01/31 (144A) | 6486000 | &nbsp;&nbsp;&nbsp; 6746205 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/01/32 (144A) | 819000 | &nbsp;&nbsp;&nbsp; 828161 |
| Unipol Assicurazioni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 05/23/34 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 123629 |
| USI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/32 (144A) (a) | 1234000 | &nbsp;&nbsp;&nbsp; 1294069 |
|  |  | &nbsp;&nbsp;&nbsp; 58659634 |
| **Internet — 1.0%** | **Internet — 1.0%** | **Internet — 1.0%** |
| Acuris Finance U.S., Inc./Acuris Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/28 (144A) † | 1460000 | &nbsp;&nbsp;&nbsp; 1418939 |

---

**BHFTI-62**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Internet—(Continued)** | **Internet—(Continued)** | **Internet—(Continued)** |
| Acuris Finance U.S., Inc./Acuris Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 08/01/29 (144A) † | 298000 | &nbsp;&nbsp;&nbsp; $311410 |
| ANGI Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/28 (144A) | 576000 | &nbsp;&nbsp;&nbsp; 541354 |
| Cablevision Lightpath LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/15/27 (144A) | 559000 | &nbsp;&nbsp;&nbsp; 542700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/15/28 (144A) | 532000 | &nbsp;&nbsp;&nbsp; 523315 |
| Getty Images, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 02/21/30 (144A) | 494000 | &nbsp;&nbsp;&nbsp; 471735 |
| iliad SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/09/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/15/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 123938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 126057 |
| ION Trading Technologies SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 05/30/29 (144A) † | 600000 | &nbsp;&nbsp;&nbsp; 633705 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/01/31 (144A) | 128000 | &nbsp;&nbsp;&nbsp; 116009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/01/30 (144A) | 41000 | &nbsp;&nbsp;&nbsp; 38724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/28 (144A) | 259000 | &nbsp;&nbsp;&nbsp; 254423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/33 (144A) | 959000 | &nbsp;&nbsp;&nbsp; 967425 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 5Y H15 + 4.250%, 12/15/29 (144A) (a) (b) | 254000 | &nbsp;&nbsp;&nbsp; 264032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 04/15/29 (144A) | 1200000 | &nbsp;&nbsp;&nbsp; 1349358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 02/15/27 (144A) | 573000 | &nbsp;&nbsp;&nbsp; 621043 |
| Snap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/33 (144A) | 1294000 | &nbsp;&nbsp;&nbsp; 1322596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/15/34 (144A) | 783000 | &nbsp;&nbsp;&nbsp; 792499 |
|  |  | &nbsp;&nbsp;&nbsp; 10537304 |
| **Investment Companies — 1.0%** | **Investment Companies — 1.0%** | **Investment Companies — 1.0%** |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/30/30 (144A) | 448000 | &nbsp;&nbsp;&nbsp; 455861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 03/15/32 (144A) | 104000 | &nbsp;&nbsp;&nbsp; 109136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 07/29/31 (a) | 375000 | &nbsp;&nbsp;&nbsp; 397429 |
| ARES Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 01/15/31 (144A) | 493000 | &nbsp;&nbsp;&nbsp; 487129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 02/15/30 | 319000 | &nbsp;&nbsp;&nbsp; 322113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 09/09/30 (144A) | 510000 | &nbsp;&nbsp;&nbsp; 518269 |
| Bain Capital Specialty Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 03/15/30 | 160000 | &nbsp;&nbsp;&nbsp; 160819 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/22/34 (a) | 1481000 | &nbsp;&nbsp;&nbsp; 1516614 |
| Blue Owl Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 07/15/30 | 1160000 | &nbsp;&nbsp;&nbsp; 1192830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.450%, 11/15/26 | 287000 | &nbsp;&nbsp;&nbsp; 297320 |
| Blue Owl Technology Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/04/29 (a) | 160000 | &nbsp;&nbsp;&nbsp; 165074 |
| Compass Group Diversified Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/15/29 (144A) | 543345 | &nbsp;&nbsp;&nbsp; 501958 |
| HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 07/01/34 | 460000 | &nbsp;&nbsp;&nbsp; 468155 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/29 | 345000 | &nbsp;&nbsp;&nbsp; 297807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/27 (a) | 2014000 | &nbsp;&nbsp;&nbsp; 1979654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 01/15/29 | 461000 | &nbsp;&nbsp;&nbsp; 465264 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Investment Companies—(Continued)** | **Investment Companies—(Continued)** | **Investment Companies—(Continued)** |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 11/15/29 (144A) | 991000 | &nbsp;&nbsp;&nbsp; $995378 |
|  |  | &nbsp;&nbsp;&nbsp; 10330810 |
| **Iron/Steel — 0.5%** | **Iron/Steel — 0.5%** | **Iron/Steel — 0.5%** |
| ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/01/29 | 277000 | &nbsp;&nbsp;&nbsp; 272337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/01/31 | 746000 | &nbsp;&nbsp;&nbsp; 734157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/30 (a) | 1233000 | &nbsp;&nbsp;&nbsp; 1294261 |
| Big River Steel LLC/BRS Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/31/29 (144A) (a) | 1966000 | &nbsp;&nbsp;&nbsp; 1966769 |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/29 (144A) (a) | 1080000 | &nbsp;&nbsp;&nbsp; 1100591 |
|  |  | &nbsp;&nbsp;&nbsp; 5368115 |
| **IT Services — 0.0%** | **IT Services — 0.0%** | **IT Services — 0.0%** |
| Vertiv Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/28 (144A) | 433000 | &nbsp;&nbsp;&nbsp; 422816 |
| **Leisure Time — 1.5%** | **Leisure Time — 1.5%** | **Leisure Time — 1.5%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/01/32 (144A) | 383000 | &nbsp;&nbsp;&nbsp; 389771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/15/31 (144A) | 616000 | &nbsp;&nbsp;&nbsp; 631242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/15/33 (144A) | 1712000 | &nbsp;&nbsp;&nbsp; 1754862 |
| Carnival PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/15/31 (144A) (EUR) | 1085000 | &nbsp;&nbsp;&nbsp; 1289530 |
| Lindblad Expeditions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/15/30 (144A) | 899000 | &nbsp;&nbsp;&nbsp; 916342 |
| MajorDrive Holdings IV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/01/29 (144A) | 747000 | &nbsp;&nbsp;&nbsp; 612147 |
| NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/15/31 (144A) | 1211000 | &nbsp;&nbsp;&nbsp; 1210955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/15/33 (144A) | 1933000 | &nbsp;&nbsp;&nbsp; 1943005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/32 (144A) | 914000 | &nbsp;&nbsp;&nbsp; 939986 |
| Pinnacle Bidco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 10/11/28 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 141890 |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 06/01/27 (144A) | 316000 | &nbsp;&nbsp;&nbsp; 320525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/15/29 (144A) (a) | 961000 | &nbsp;&nbsp;&nbsp; 928709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 07/15/30 (144A) | 1069000 | &nbsp;&nbsp;&nbsp; 1035273 |
| TUI AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121972 |
| TUI Cruises GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120538 |
| Viking Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/15/27 (144A) | 444000 | &nbsp;&nbsp;&nbsp; 444171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/33 (144A) | 1693000 | &nbsp;&nbsp;&nbsp; 1694188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/15/31 (144A) | 1353000 | &nbsp;&nbsp;&nbsp; 1452202 |
| Viking Ocean Cruises Ship VII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/15/29 (144A) | 314000 | &nbsp;&nbsp;&nbsp; 313730 |
|  |  | &nbsp;&nbsp;&nbsp; 16261038 |
| **Lodging — 1.0%** | **Lodging — 1.0%** | **Lodging — 1.0%** |
| Essendi SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/15/31 (EUR) | 137000 | &nbsp;&nbsp;&nbsp; 165628 |

---

**BHFTI-63**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Lodging—(Continued)** | **Lodging—(Continued)** | **Lodging—(Continued)** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/33 (144A) | 101000 | &nbsp;&nbsp;&nbsp; $102348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/33 (144A) (a) | 1145000 | &nbsp;&nbsp;&nbsp; 1168811 |
| Melco Resorts Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/04/29 (144A) | 942000 | &nbsp;&nbsp;&nbsp; 923808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/17/27 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 199376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/21/28 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 199317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/24/33 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 200158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 04/17/32 (144A) | 706000 | &nbsp;&nbsp;&nbsp; 739600 |
| MGM China Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/26/31 (144A) (a) | 250000 | &nbsp;&nbsp;&nbsp; 263746 |
| MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/29 (a) | 1042000 | &nbsp;&nbsp;&nbsp; 1060545 |
| Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/28 (144A) | 422000 | &nbsp;&nbsp;&nbsp; 414896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/31 (144A) | 411000 | &nbsp;&nbsp;&nbsp; 387702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/32 (144A) (a) | 452000 | &nbsp;&nbsp;&nbsp; 464314 |
| Wyndham Hotels & Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/28 (144A) | 134000 | &nbsp;&nbsp;&nbsp; 130810 |
| Wynn Macau Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/15/29 (144A) (a) | 658000 | &nbsp;&nbsp;&nbsp; 645653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/27 (144A) (a) | 200000 | &nbsp;&nbsp;&nbsp; 199999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/26/28 (144A) (a) | 3167000 | &nbsp;&nbsp;&nbsp; 3163782 |
|  |  | &nbsp;&nbsp;&nbsp; 10430493 |
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| BWX Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/30/28 (144A) | 153000 | &nbsp;&nbsp;&nbsp; 149346 |
| Manitowoc Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/31 (144A) | 352000 | &nbsp;&nbsp;&nbsp; 369323 |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/29 (144A) | 84000 | &nbsp;&nbsp;&nbsp; 82724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/32 (144A) | 509000 | &nbsp;&nbsp;&nbsp; 518516 |
|  |  | &nbsp;&nbsp;&nbsp; 1119909 |
| **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** |
| ATS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/15/28 (144A) | 237000 | &nbsp;&nbsp;&nbsp; 227069 |
| Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/01/30 (144A) | 960000 | &nbsp;&nbsp;&nbsp; 999105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/01/31 (144A) | 72000 | &nbsp;&nbsp;&nbsp; 77138 |
| Esab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/29 (144A) | 636000 | &nbsp;&nbsp;&nbsp; 653365 |
| GrafTech Global Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 12/23/29 (144A) | 384000 | &nbsp;&nbsp;&nbsp; 327360 |
| Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/15/29 (144A) | 1783000 | &nbsp;&nbsp;&nbsp; 1863575 |
| TK Elevator Midco GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 07/15/27 (EUR) | 673000 | &nbsp;&nbsp;&nbsp; 791023 |
| TK Elevator U.S. Newco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/27 (144A) | 2757000 | &nbsp;&nbsp;&nbsp; 2747252 |
|  |  | &nbsp;&nbsp;&nbsp; 7685887 |
| **Media — 4.2%** | **Media — 4.2%** | **Media — 4.2%** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/01/31 (144A) (a) | 770000 | &nbsp;&nbsp;&nbsp; 709348 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Media—(Continued)** | **Media—(Continued)** | **Media—(Continued)** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/34 (144A) (a) | 2154000 | &nbsp;&nbsp;&nbsp; $1862269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30 (144A) (a) | 544000 | &nbsp;&nbsp;&nbsp; 513762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/32 (a) | 225000 | &nbsp;&nbsp;&nbsp; 204765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/33 (144A) (a) | 484000 | &nbsp;&nbsp;&nbsp; 430305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 (144A) (a) | 808000 | &nbsp;&nbsp;&nbsp; 775330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 (144A) (a) | 1006000 | &nbsp;&nbsp;&nbsp; 930310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/01/29 (144A) (a) | 1170000 | &nbsp;&nbsp;&nbsp; 1186071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 03/01/31 (144A) (a) | 3501000 | &nbsp;&nbsp;&nbsp; 3612279 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/28 (144A) | 800000 | &nbsp;&nbsp;&nbsp; 701348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/27 (144A) | 1007000 | &nbsp;&nbsp;&nbsp; 955772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 05/15/28 (144A) | 3739000 | &nbsp;&nbsp;&nbsp; 3461409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.750%, 01/31/29 (144A) | 1592000 | &nbsp;&nbsp;&nbsp; 1338783 |
| Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/01/30 (144A) | 1347000 | &nbsp;&nbsp;&nbsp; 1330461 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/15/27 (144A) (a) | 1212000 | &nbsp;&nbsp;&nbsp; 1210640 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/26 (144A) | 2119000 | &nbsp;&nbsp;&nbsp; 2082117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/28 (144A) | 2185000 | &nbsp;&nbsp;&nbsp; 2094628 |
| DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.750%, 11/15/27 (144A) | 5018000 | &nbsp;&nbsp;&nbsp; 5310334 |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/33 (144A) (a) | 1397000 | &nbsp;&nbsp;&nbsp; 1384361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 07/15/32 (144A) | 1163000 | &nbsp;&nbsp;&nbsp; 1188165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 07/15/29 (144A) (a) | 716000 | &nbsp;&nbsp;&nbsp; 774176 |
| LCPR Senior Secured Financing DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27 (144A) | 1469000 | &nbsp;&nbsp;&nbsp; 879585 |
| Midcontinent Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/15/32 (144A) (a) | 593000 | &nbsp;&nbsp;&nbsp; 610970 |
| Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/15/33 (144A) | 1808000 | &nbsp;&nbsp;&nbsp; 1855496 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 09/01/26 (144A) | 103000 | &nbsp;&nbsp;&nbsp; 101579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/27 (144A) | 1205000 | &nbsp;&nbsp;&nbsp; 1199214 |
| Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/15/31 (144A) (a) | 722000 | &nbsp;&nbsp;&nbsp; 687813 |
| Tele Columbus AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 10.000% PIK, 01/01/29 (EUR) (c) | 128626 | &nbsp;&nbsp;&nbsp; 101762 |
| Telenet Finance Luxembourg Notes SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/28 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 198829 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 06/30/30 (144A) (a) | 477000 | &nbsp;&nbsp;&nbsp; 479282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/15/28 (144A) | 1750000 | &nbsp;&nbsp;&nbsp; 1813385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 07/31/31 (144A) (a) | 988000 | &nbsp;&nbsp;&nbsp; 1020250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 08/01/32 (144A) | 1102000 | &nbsp;&nbsp;&nbsp; 1174365 |
| Virgin Media O2 Vendor Financing Notes V DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 03/15/32 (GBP) | 107000 | &nbsp;&nbsp;&nbsp; 148724 |
| Virgin Media Secured Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/30 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 124731 |
| Virgin Media Vendor Financing Notes IV DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/28 (144A) | 830000 | &nbsp;&nbsp;&nbsp; 813026 |
| VZ Secured Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/15/33 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117400 |

---

**BHFTI-64**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Media—(Continued)** | **Media—(Continued)** | **Media—(Continued)** |
| Ziggo Bond Co. BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/28/30 (144A) (a) | 248000 | &nbsp;&nbsp;&nbsp; $224791 |
| Ziggo BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/30 (144A) | 385000 | &nbsp;&nbsp;&nbsp; 363385 |
|  |  | &nbsp;&nbsp;&nbsp; 43971220 |
| **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** |
| Vallourec SACA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 04/15/32 (144A) (a) | 1406000 | &nbsp;&nbsp;&nbsp; 1498044 |
| **Mining — 1.8%** | **Mining — 1.8%** | **Mining — 1.8%** |
| Aris Mining Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/31/29 (144A) | 209000 | &nbsp;&nbsp;&nbsp; 217293 |
| Arsenal AIC Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/30 (144A) (a) | 419000 | &nbsp;&nbsp;&nbsp; 443636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.500%, 10/01/31 (144A) | 2454000 | &nbsp;&nbsp;&nbsp; 2725479 |
| Constellium SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/15/29 (144A) | 1351000 | &nbsp;&nbsp;&nbsp; 1285454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 06/15/28 (144A) (a) | 512000 | &nbsp;&nbsp;&nbsp; 511231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/15/32 (144A) (a) | 1896000 | &nbsp;&nbsp;&nbsp; 1938089 |
| ERO Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/30 (144A) | 1166000 | &nbsp;&nbsp;&nbsp; 1163551 |
| First Quantum Minerals Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/34 (144A) | 518000 | &nbsp;&nbsp;&nbsp; 535588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/01/33 (144A) (a) | 340000 | &nbsp;&nbsp;&nbsp; 358991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 03/01/29 (144A) | 1877000 | &nbsp;&nbsp;&nbsp; 1989292 |
| Kaiser Aluminum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/31 (144A) | 2083000 | &nbsp;&nbsp;&nbsp; 1963291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/28 (144A) (a) | 613000 | &nbsp;&nbsp;&nbsp; 606135 |
| New Gold, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/01/32 (144A) (a) | 843000 | &nbsp;&nbsp;&nbsp; 882978 |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/31 (144A) | 1801000 | &nbsp;&nbsp;&nbsp; 1641950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/30/30 (144A) | 354000 | &nbsp;&nbsp;&nbsp; 341492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/15/33 (144A) | 1780000 | &nbsp;&nbsp;&nbsp; 1798398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/30/30 (144A) (a) | 533000 | &nbsp;&nbsp;&nbsp; 552707 |
| Novelis Sheet Ingot GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 04/15/29 (EUR) | 422000 | &nbsp;&nbsp;&nbsp; 482364 |
|  |  | &nbsp;&nbsp;&nbsp; 19437919 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| Amsted Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/33 (144A) | 344000 | &nbsp;&nbsp;&nbsp; 353075 |
| Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33 (144A) | 284000 | &nbsp;&nbsp;&nbsp; 292320 |
| Enpro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/01/33 (144A) | 440000 | &nbsp;&nbsp;&nbsp; 449699 |
| Maxam Prill SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119191 |
|  |  | &nbsp;&nbsp;&nbsp; 1214285 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| Zebra Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/32 (144A) | 344000 | &nbsp;&nbsp;&nbsp; 353314 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas — 3.7%** | **Oil & Gas — 3.7%** | **Oil & Gas — 3.7%** |
| Aethon United BR LP/Aethon United Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/01/29 (144A) | 882000 | &nbsp;&nbsp;&nbsp; $919834 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/30/29 (144A) (a) | 158000 | &nbsp;&nbsp;&nbsp; 157675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/33 (144A) | 466000 | &nbsp;&nbsp;&nbsp; 473764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 11/01/27 (144A) | 435000 | &nbsp;&nbsp;&nbsp; 525545 |
| Caturus Energy LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 02/15/30 (144A) | 1713000 | &nbsp;&nbsp;&nbsp; 1783522 |
| Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/33 (144A) | 302000 | &nbsp;&nbsp;&nbsp; 305983 |
| CITGO Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/15/29 (144A) | 1418000 | &nbsp;&nbsp;&nbsp; 1473574 |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/01/28 (144A) | 40000 | &nbsp;&nbsp;&nbsp; 41462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 07/01/31 (144A) (a) | 295000 | &nbsp;&nbsp;&nbsp; 302231 |
| CNX Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/01/32 (144A) | 222000 | &nbsp;&nbsp;&nbsp; 230309 |
| Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/15/30 (144A) | 1652000 | &nbsp;&nbsp;&nbsp; 1590967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/29 (144A) | 971000 | &nbsp;&nbsp;&nbsp; 967803 |
| Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/15/33 (144A) (a) | 1157000 | &nbsp;&nbsp;&nbsp; 1126530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 04/01/32 (144A) (a) | 972000 | &nbsp;&nbsp;&nbsp; 965287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/15/34 (144A) | 1049000 | &nbsp;&nbsp;&nbsp; 1062844 |
| Diamond Foreign Asset Co./Diamond Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 10/01/30 (144A) (a) | 370000 | &nbsp;&nbsp;&nbsp; 392084 |
| Gulfport Energy Operating Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/01/29 (144A) (a) | 392000 | &nbsp;&nbsp;&nbsp; 402268 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 02/01/29 (144A) | 525000 | &nbsp;&nbsp;&nbsp; 517177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/30 (144A) | 60000 | &nbsp;&nbsp;&nbsp; 58965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/01/28 (144A) | 220000 | &nbsp;&nbsp;&nbsp; 220542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/32 (144A) | 52000 | &nbsp;&nbsp;&nbsp; 49886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 05/15/34 (144A) (a) | 1038000 | &nbsp;&nbsp;&nbsp; 997984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/35 (144A) (a) | 365000 | &nbsp;&nbsp;&nbsp; 356710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/01/33 (144A) | 1064000 | &nbsp;&nbsp;&nbsp; 1117496 |
| Ithaca Energy North Sea PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 118431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/01/32 (144A) | 378000 | &nbsp;&nbsp;&nbsp; 387909 |
| Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/32 (144A) | 487000 | &nbsp;&nbsp;&nbsp; 491660 |
| Murphy Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/42 | 64000 | &nbsp;&nbsp;&nbsp; 55961 |
| Nabors Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 05/15/27 (144A) (a) | 442000 | &nbsp;&nbsp;&nbsp; 448678 |
| Noble Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/15/30 (144A) | 416000 | &nbsp;&nbsp;&nbsp; 430585 |
| Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/33 (144A) | 1376000 | &nbsp;&nbsp;&nbsp; 1370556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 03/01/28 (144A) | 2427000 | &nbsp;&nbsp;&nbsp; 2461267 |
| Parkland Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/32 (a) (f) (g) | 490000 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/32 (144A) | 490000 | &nbsp;&nbsp;&nbsp; 503505 |

---

**BHFTI-65**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/15/30 (144A) (a) | 477000 | &nbsp;&nbsp;&nbsp; $470951 |
| Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/01/29 (144A) | 830000 | &nbsp;&nbsp;&nbsp; 833715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/33 (144A) | 1377000 | &nbsp;&nbsp;&nbsp; 1402688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 01/15/32 (144A) | 288000 | &nbsp;&nbsp;&nbsp; 298696 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 03/15/31 (144A) | 342000 | &nbsp;&nbsp;&nbsp; 339477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/34 (144A) | 347000 | &nbsp;&nbsp;&nbsp; 343996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/33 (144A) | 617000 | &nbsp;&nbsp;&nbsp; 628009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 5Y H15 + 4.230%, 09/18/30 (144A) (b) | 4201000 | &nbsp;&nbsp;&nbsp; 4266998 |
| TGNR Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/29 (144A) | 658000 | &nbsp;&nbsp;&nbsp; 643882 |
| Transocean International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/32 (144A) | 545000 | &nbsp;&nbsp;&nbsp; 545000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 02/01/27 (144A) | 1106000 | &nbsp;&nbsp;&nbsp; 1104462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 05/15/29 (144A) | 444000 | &nbsp;&nbsp;&nbsp; 437725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 05/15/31 (144A) | 373000 | &nbsp;&nbsp;&nbsp; 365551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/15/30 (144A) | 225000 | &nbsp;&nbsp;&nbsp; 236738 |
| Transocean Titan Financing Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 02/01/28 (144A) | 200762 | &nbsp;&nbsp;&nbsp; 205701 |
| Valaris Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/30/30 (144A) | 1105000 | &nbsp;&nbsp;&nbsp; 1146818 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.862%, 5Y EUR Swap + 4.765%, 11/15/83 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 130184 |
| Vital Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/31/29 (144A) | 193000 | &nbsp;&nbsp;&nbsp; 191130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/15/32 (144A) | 1165000 | &nbsp;&nbsp;&nbsp; 1130909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 10/15/30 (a) | 714000 | &nbsp;&nbsp;&nbsp; 745457 |
| Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/15/29 (144A) | 664000 | &nbsp;&nbsp;&nbsp; 670889 |
| Wintershall Dea Finance 2 BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.117%, 5Y EUR Swap + 3.940%, 05/08/30 (EUR) (b) | 113000 | &nbsp;&nbsp;&nbsp; 138638 |
|  |  | &nbsp;&nbsp;&nbsp; 38586608 |
| **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** |
| Archrock Partners LP/Archrock Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/01/28 (144A) | 1388000 | &nbsp;&nbsp;&nbsp; 1389920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/01/32 (144A) (a) | 1173000 | &nbsp;&nbsp;&nbsp; 1203242 |
| Enerflex Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 10/15/27 (144A) | 265000 | &nbsp;&nbsp;&nbsp; 269817 |
| Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/33 (144A) (a) | 882000 | &nbsp;&nbsp;&nbsp; 898031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/01/35 (144A) | 666000 | &nbsp;&nbsp;&nbsp; 683820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/29 (144A) | 1388000 | &nbsp;&nbsp;&nbsp; 1440279 |
| Oceaneering International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/28 | 196000 | &nbsp;&nbsp;&nbsp; 198424 |
| OEG Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 09/27/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 122709 |
| Star Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 08/01/31 (144A) | 673000 | &nbsp;&nbsp;&nbsp; 667753 |
| Tidewater, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/15/30 (144A) | 567000 | &nbsp;&nbsp;&nbsp; 608079 |
| USA Compression Partners LP/USA Compression Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/33 (144A) | 1550000 | &nbsp;&nbsp;&nbsp; 1555929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/29 (144A) (a) | 862000 | &nbsp;&nbsp;&nbsp; 889001 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas Services—(Continued)** | **Oil & Gas Services—(Continued)** | **Oil & Gas Services—(Continued)** |
| Weatherford International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/33 (144A) | 1397000 | &nbsp;&nbsp;&nbsp; $1397972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 04/30/30 (144A) (a) | 1246000 | &nbsp;&nbsp;&nbsp; 1273725 |
|  |  | &nbsp;&nbsp;&nbsp; 12598701 |
| **Packaging & Containers — 2.8%** | **Packaging & Containers — 2.8%** | **Packaging & Containers — 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal <br> Packaging Finance PLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/29 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 216474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/29 (144A) | 3978000 | &nbsp;&nbsp;&nbsp; 3681705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/27 (144A) | 909000 | &nbsp;&nbsp;&nbsp; 908781 |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 08/15/26 (EUR) | 836000 | &nbsp;&nbsp;&nbsp; 954447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/26 (144A) | 1784000 | &nbsp;&nbsp;&nbsp; 1712640 |
| Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/01/32 (EUR) | 390000 | &nbsp;&nbsp;&nbsp; 468327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/15/33 (a) | 549000 | &nbsp;&nbsp;&nbsp; 554901 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 04/15/29 (144A) | 1038000 | &nbsp;&nbsp;&nbsp; 1049824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/32 (144A) | 2169000 | &nbsp;&nbsp;&nbsp; 2225090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/15/30 (144A) | 1750000 | &nbsp;&nbsp;&nbsp; 1795166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 04/15/30 (144A) (a) | 955000 | &nbsp;&nbsp;&nbsp; 981017 |
| Crown Americas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/01/33 (144A) (a) | 1495000 | &nbsp;&nbsp;&nbsp; 1510116 |
| Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 02/01/29 (EUR) | 300000 | &nbsp;&nbsp;&nbsp; 341004 |
| Kleopatra Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/01/26 (EUR) | 110000 | &nbsp;&nbsp;&nbsp; 72698 |
| LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/28 (144A) (a) | 177000 | &nbsp;&nbsp;&nbsp; 137141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/01/31 (144A) (a) | 499000 | &nbsp;&nbsp;&nbsp; 366582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 11/01/28 (144A) | 1329000 | &nbsp;&nbsp;&nbsp; 1129036 |
| Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/15/27 (144A) | 7735000 | &nbsp;&nbsp;&nbsp; 7810826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 04/15/27 (144A) | 384000 | &nbsp;&nbsp;&nbsp; 384879 |
| OI European Group BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/15/28 (144A) (EUR) | 142000 | &nbsp;&nbsp;&nbsp; 172065 |
| Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/27 (144A) | 201000 | &nbsp;&nbsp;&nbsp; 197260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/29 (144A) (a) | 165000 | &nbsp;&nbsp;&nbsp; 164079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/15/32 (144A) (a) | 302000 | &nbsp;&nbsp;&nbsp; 312784 |
| Sealed Air Corp./Sealed Air Corp. U.S. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31 (144A) (a) | 57000 | &nbsp;&nbsp;&nbsp; 59811 |
| Silgan Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/15/31 (144A) (EUR) | 850000 | &nbsp;&nbsp;&nbsp; 1001969 |
| Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/30 (EUR) | 220000 | &nbsp;&nbsp;&nbsp; 271519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/30 (144A) (EUR) | 225000 | &nbsp;&nbsp;&nbsp; 277690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 07/15/30 (144A) (a) | 600000 | &nbsp;&nbsp;&nbsp; 640046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 01/15/31 (144A) | 279000 | &nbsp;&nbsp;&nbsp; 301973 |
|  |  | &nbsp;&nbsp;&nbsp; 29821022 |
| **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** |
| 1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 04/15/32 (144A) † | 9000000 | &nbsp;&nbsp;&nbsp; 9225468 |

---

**BHFTI-66**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** |
| Amneal Pharmaceuticals LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/32 (144A) | 488000 | &nbsp;&nbsp;&nbsp; $504696 |
| Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/01/28 (144A) † | 155000 | &nbsp;&nbsp;&nbsp; 138725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 09/30/28 (144A) † | 3067000 | &nbsp;&nbsp;&nbsp; 3189739 |
| Bayer AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5Y EUR Swap + 3.432%, 09/25/83 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 125220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 5Y EUR Swap + 3.896%, 09/25/83 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 128725 |
| Dolcetto Holdco SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/14/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120369 |
| Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 (EUR) | 725000 | &nbsp;&nbsp;&nbsp; 836927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 05/01/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 123672 |
| Nidda Healthcare Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.786%, 3M EURIBOR + 3.750%, 10/23/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 117615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/21/30 (EUR) | 149000 | &nbsp;&nbsp;&nbsp; 182360 |
| Option Care Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/31/29 (144A) | 599000 | &nbsp;&nbsp;&nbsp; 577685 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/30/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 114334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/30/28 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 579685 |
| Rossini SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3M EURIBOR + 3.875%, 12/31/29 (EUR) (b) | 50064 | &nbsp;&nbsp;&nbsp; 59538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/31/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 123861 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/01/26 | 659000 | &nbsp;&nbsp;&nbsp; 647285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/32 | 282000 | &nbsp;&nbsp;&nbsp; 293699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/28 | 200000 | &nbsp;&nbsp;&nbsp; 207605 |
|  |  | &nbsp;&nbsp;&nbsp; 17297208 |
| **Pipelines — 3.9%** | **Pipelines — 3.9%** | **Pipelines — 3.9%** |
| Antero Midstream Partners LP/Antero Midstream Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/15/29 (144A) | 469000 | &nbsp;&nbsp;&nbsp; 467281 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/15/29 (144A) | 598000 | &nbsp;&nbsp;&nbsp; 620085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/32 (144A) | 481000 | &nbsp;&nbsp;&nbsp; 505850 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 10/15/44 | 215000 | &nbsp;&nbsp;&nbsp; 195443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/15/43 | 318000 | &nbsp;&nbsp;&nbsp; 296587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/30 (144A) | 182000 | &nbsp;&nbsp;&nbsp; 189034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/01/29 (144A) | 53000 | &nbsp;&nbsp;&nbsp; 54928 |
| CNX Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/15/30 (144A) | 287000 | &nbsp;&nbsp;&nbsp; 275215 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/31 (144A) | 1891000 | &nbsp;&nbsp;&nbsp; 1873422 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 06/30/33 (144A) | 805000 | &nbsp;&nbsp;&nbsp; 818601 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 5Y H15 + 2.970%, 06/27/54 (b) | 430000 | &nbsp;&nbsp;&nbsp; 455984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 5Y H15 + 3.122%, 03/15/55 (b) | 587000 | &nbsp;&nbsp;&nbsp; 621040 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 5.694%, 11/15/26 (b) | 1085000 | &nbsp;&nbsp;&nbsp; 1089047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5Y H15 + 2.829%, 10/01/54 (a) (b) | 829000 | &nbsp;&nbsp;&nbsp; 858071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5Y H15 + 5.306%, 05/15/30 (b) | 547000 | &nbsp;&nbsp;&nbsp; 565214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 5Y H15 + 4.020%, 05/15/54 (a) (b) | 1251000 | &nbsp;&nbsp;&nbsp; 1336846 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pipelines—(Continued)** | **Pipelines—(Continued)** | **Pipelines—(Continued)** |
| Excelerate Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/15/30 (144A) | 502000 | &nbsp;&nbsp;&nbsp; $534363 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/01/28 | 595000 | &nbsp;&nbsp;&nbsp; 599191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 05/15/32 (a) | 646000 | &nbsp;&nbsp;&nbsp; 673748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/15/33 | 554000 | &nbsp;&nbsp;&nbsp; 579456 |
| Global Partners LP/GLP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 07/01/33 (144A) | 342000 | &nbsp;&nbsp;&nbsp; 350544 |
| Harvest Midstream I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/15/32 (144A) | 267000 | &nbsp;&nbsp;&nbsp; 272742 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/15/30 (144A) (a) | 311000 | &nbsp;&nbsp;&nbsp; 301433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/29 (144A) | 669000 | &nbsp;&nbsp;&nbsp; 689963 |
| Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/15/34 (144A) (a) | 854000 | &nbsp;&nbsp;&nbsp; 870717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 07/15/32 (144A) | 194000 | &nbsp;&nbsp;&nbsp; 201377 |
| ITT Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/01/29 (144A) | 1349000 | &nbsp;&nbsp;&nbsp; 1326249 |
| Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/15/30 (144A) (a) | 108000 | &nbsp;&nbsp;&nbsp; 108628 |
| NGL Energy Operating LLC/NGL Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/15/29 (144A) (a) | 860000 | &nbsp;&nbsp;&nbsp; 881774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 02/15/32 (144A) | 2062000 | &nbsp;&nbsp;&nbsp; 2112820 |
| Northriver Midstream Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/15/32 (144A) (a) | 459000 | &nbsp;&nbsp;&nbsp; 469372 |
| Prairie Acquiror LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 08/01/29 (144A) (a) | 515000 | &nbsp;&nbsp;&nbsp; 536169 |
| Rockies Express Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 07/15/29 (144A) | 136000 | &nbsp;&nbsp;&nbsp; 134897 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/28 (144A) | 468000 | &nbsp;&nbsp;&nbsp; 465619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/31/30 (144A) | 29000 | &nbsp;&nbsp;&nbsp; 28638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/31 (144A) | 274000 | &nbsp;&nbsp;&nbsp; 268088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/29 (144A) | 1553000 | &nbsp;&nbsp;&nbsp; 1599346 |
| TransMontaigne Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/15/30 (144A) | 154000 | &nbsp;&nbsp;&nbsp; 160471 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 06/01/31 (144A) | 2145000 | &nbsp;&nbsp;&nbsp; 2252186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 5Y H15 + 5.440%, 09/30/29 (144A) (b) | 7516000 | &nbsp;&nbsp;&nbsp; 7448954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 02/01/29 (144A) (a) | 5194000 | &nbsp;&nbsp;&nbsp; 5723918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 02/01/32 (144A) (a) | 2066000 | &nbsp;&nbsp;&nbsp; 2249302 |
|  |  | &nbsp;&nbsp;&nbsp; 41062613 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| Adler Financing SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 12/31/28 (EUR) (c) | 239972 | &nbsp;&nbsp;&nbsp; 299888 |
| Alexandrite Lake Lux Holdings SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/30/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120107 |
| Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 04/15/30 (144A) | 1147426 | &nbsp;&nbsp;&nbsp; 1161198 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 04/15/30 (144A) | 365000 | &nbsp;&nbsp;&nbsp; 398336 |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 09/01/31 (144A) (a) | 937000 | &nbsp;&nbsp;&nbsp; 1000081 |
| Five Point Operating Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/30 (144A) | 232000 | &nbsp;&nbsp;&nbsp; 235427 |

---

**BHFTI-67**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate—(Continued)** | **Real Estate—(Continued)** | **Real Estate—(Continued)** |
| Heimstaden Bostad AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 5Y EUR Swap + 3.149%, 02/01/27 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; $112989 |
| Howard Hughes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 02/01/29 (144A) | 382000 | &nbsp;&nbsp;&nbsp; 366446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/31 (144A) | 308000 | &nbsp;&nbsp;&nbsp; 288770 |
| New Immo Holding SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 07/23/27 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 115686 |
| Tropicana Entertainment LLC/Tropicana Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 12/15/14 (d) (f) (g) | 70000 | &nbsp;&nbsp;&nbsp; 0 |
| Unique Pub Finance Co. PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.464%, 03/30/32 (GBP) | 60878 | &nbsp;&nbsp;&nbsp; 85456 |
| Vivion Investments SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2.250% PIK, 08/31/28 (EUR) (c) | 119777 | &nbsp;&nbsp;&nbsp; 140287 |
|  |  | &nbsp;&nbsp;&nbsp; 4324671 |
| **Real Estate Investment Trusts — 2.7%** | **Real Estate Investment Trusts — 2.7%** | **Real Estate Investment Trusts — 2.7%** |
| Arbor Realty SR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/15/30 (144A) | 399000 | &nbsp;&nbsp;&nbsp; 419524 |
| Blackstone Mortgage Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/27 (144A) | 752000 | &nbsp;&nbsp;&nbsp; 734148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/27 (144A) (a) | 894000 | &nbsp;&nbsp;&nbsp; 878044 |
| Diversified Healthcare Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/15/30 (144A) † | 370000 | &nbsp;&nbsp;&nbsp; 376042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc./Global Net Lease Operating <br> Partnership LP<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/15/27 (144A) | 252000 | &nbsp;&nbsp;&nbsp; 244592 |
| HAT Holdings I LLC/HAT Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/27 (144A) | 149000 | &nbsp;&nbsp;&nbsp; 155121 |
| Iron Mountain Information Management Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/32 (144A) | 479000 | &nbsp;&nbsp;&nbsp; 461536 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/34 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/34 (144A) (EUR) | 590000 | &nbsp;&nbsp;&nbsp; 694218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/30 (144A) | 63000 | &nbsp;&nbsp;&nbsp; 62305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/32 (144A) | 214000 | &nbsp;&nbsp;&nbsp; 212858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/33 (144A) (a) | 503000 | &nbsp;&nbsp;&nbsp; 513068 |
| Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/15/32 (144A) | 769000 | &nbsp;&nbsp;&nbsp; 771010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/01/30 (144A) | 1519000 | &nbsp;&nbsp;&nbsp; 1544808 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 122680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/32 (144A) (EUR) | 725000 | &nbsp;&nbsp;&nbsp; 889427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 02/15/32 (144A) | 2218000 | &nbsp;&nbsp;&nbsp; 2356762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK <br> Finance Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/01/30 (144A) | 599000 | &nbsp;&nbsp;&nbsp; 617505 |
| Pebblebrook Hotel LP/PEB Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/15/29 (144A) (a) | 317000 | &nbsp;&nbsp;&nbsp; 321726 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/32 (144A) | 2183000 | &nbsp;&nbsp;&nbsp; 2244321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33 (144A) | 747000 | &nbsp;&nbsp;&nbsp; 769328 |
| RLJ Lodging Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/15/29 (144A) | 268000 | &nbsp;&nbsp;&nbsp; 253076 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** |
| SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 02/01/29 | 843000 | &nbsp;&nbsp;&nbsp; $788468 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 09/30/28 (144A) † | 727000 | &nbsp;&nbsp;&nbsp; 640873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/15/31 (144A) † | 4612000 | &nbsp;&nbsp;&nbsp; 4910369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 06/15/32 † (a) | 1237000 | &nbsp;&nbsp;&nbsp; 1243951 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/30 (144A) | 230000 | &nbsp;&nbsp;&nbsp; 233496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/01/30 (144A) (a) | 1032000 | &nbsp;&nbsp;&nbsp; 1067442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/30 (144A) (a) | 597000 | &nbsp;&nbsp;&nbsp; 616681 |
| Unibail-Rodamco-Westfield SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5Y EUR Swap + 2.432%, 06/11/31 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 119255 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 02/15/28 (144A) | 3556000 | &nbsp;&nbsp;&nbsp; 3745179 |
| XHR LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/30 (144A) | 297000 | &nbsp;&nbsp;&nbsp; 305159 |
|  |  | &nbsp;&nbsp;&nbsp; 28430636 |
| **Retail — 2.4%** | **Retail — 2.4%** | **Retail — 2.4%** |
| 1011778 BC ULC/New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/30 (144A) | 144000 | &nbsp;&nbsp;&nbsp; 135709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 01/15/28 (144A) (a) | 571000 | &nbsp;&nbsp;&nbsp; 561054 |
| Advance Auto Parts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/01/30 (144A) | 468000 | &nbsp;&nbsp;&nbsp; 481503 |
| Afflelou SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/25/29 (EUR) | 104000 | &nbsp;&nbsp;&nbsp; 127364 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 | 57000 | &nbsp;&nbsp;&nbsp; 55513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/32 (144A) | 124000 | &nbsp;&nbsp;&nbsp; 119069 |
| B&M European Value Retail SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/27/31 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 136252 |
| Bertrand Franchise Finance SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.771%, 3M EURIBOR + 3.750%, 07/18/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 112255 |
| Boots Group Finco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/31/32 (144A) (EUR) | 1005000 | &nbsp;&nbsp;&nbsp; 1213849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 08/31/32 (144A) (GBP) | 440000 | &nbsp;&nbsp;&nbsp; 602835 |
| Carvana Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 13.000% PIK, 06/01/30 (144A) (a) (c) | 1875218 | &nbsp;&nbsp;&nbsp; 1961885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 14.000% PIK, 06/01/31 (144A) (c) | 3853395 | &nbsp;&nbsp;&nbsp; 4362922 |
| CD&R Firefly Bidco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 04/30/29 (GBP) | 200000 | &nbsp;&nbsp;&nbsp; 282599 |
| Cougar JV Subsidiary LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/15/32 (144A) | 537000 | &nbsp;&nbsp;&nbsp; 570937 |
| Duomo Bidco SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.151%, 3M EURIBOR + 4.125%, 07/15/31 (EUR) (b) | 108000 | &nbsp;&nbsp;&nbsp; 127556 |
| EG Global Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 11/30/28 (144A) | 1206000 | &nbsp;&nbsp;&nbsp; 1324617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/29 (144A) | 907000 | &nbsp;&nbsp;&nbsp; 863226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/30 (144A) (a) | 364000 | &nbsp;&nbsp;&nbsp; 341590 |
| Foundation Building Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/29 (144A) | 43000 | &nbsp;&nbsp;&nbsp; 43585 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.500%, 08/15/29 (144A) (a) | 320000 | &nbsp;&nbsp;&nbsp; 337600 |

---

**BHFTI-68**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Retail—(Continued)** | **Retail—(Continued)** | **Retail—(Continued)** |
| Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/15/30 (144A) | 366000 | &nbsp;&nbsp;&nbsp; $374430 |
| Ken Garff Automotive LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/15/28 (144A) | 144000 | &nbsp;&nbsp;&nbsp; 140990 |
| LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/01/29 (144A) | 409000 | &nbsp;&nbsp;&nbsp; 400719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/01/31 (144A) (a) | 688000 | &nbsp;&nbsp;&nbsp; 727632 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/30 (144A) | 481000 | &nbsp;&nbsp;&nbsp; 480399 |
| Park River Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/31 (144A) | 461000 | &nbsp;&nbsp;&nbsp; 466843 |
| PetSmart LLC/PetSmart Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/15/32 (144A) | 460000 | &nbsp;&nbsp;&nbsp; 460684 |
| QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/30/32 (144A) | 2804000 | &nbsp;&nbsp;&nbsp; 2903251 |
| Raising Cane's Restaurants LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 05/01/29 (144A) (a) | 204000 | &nbsp;&nbsp;&nbsp; 214148 |
| Staples, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 09/01/29 (144A) | 504000 | &nbsp;&nbsp;&nbsp; 498340 |
| Stonegate Pub Co. Financing PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 07/31/29 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 134858 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/31 (144A) | 161000 | &nbsp;&nbsp;&nbsp; 153190 |
| White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/15/28 (144A) (a) | 4858000 | &nbsp;&nbsp;&nbsp; 4843569 |
|  |  | &nbsp;&nbsp;&nbsp; 25560973 |
| **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** |
| Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 5Y UKG + 3.852%, 12/20/30 (GBP) (b) | 200000 | &nbsp;&nbsp;&nbsp; 275753 |
| **Semiconductors — 0.1%** | **Semiconductors — 0.1%** | **Semiconductors — 0.1%** |
| Amkor Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/01/33 (144A) | 211000 | &nbsp;&nbsp;&nbsp; 213149 |
| Kioxia Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/24/33 (144A) (a) | 400000 | &nbsp;&nbsp;&nbsp; 411212 |
|  |  | &nbsp;&nbsp;&nbsp; 624361 |
| **Software — 4.9%** | **Software — 4.9%** | **Software — 4.9%** |
| AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/30 (144A) (a) | 9268000 | &nbsp;&nbsp;&nbsp; 9192169 |
| Camelot Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/01/26 (144A) | 107000 | &nbsp;&nbsp;&nbsp; 106633 |
| Capstone Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/30 (144A) | 2202000 | &nbsp;&nbsp;&nbsp; 2302832 |
| Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/29 (144A) (a) | 345000 | &nbsp;&nbsp;&nbsp; 304033 |
| Central Parent, Inc./CDK Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/29 (144A) | 874000 | &nbsp;&nbsp;&nbsp; 752562 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/31/29 (144A) | 5101000 | &nbsp;&nbsp;&nbsp; 5147013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/30/32 (144A) (a) | 4514000 | &nbsp;&nbsp;&nbsp; 4788241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/30/29 (144A) (a) | 7926000 | &nbsp;&nbsp;&nbsp; 8220898 |
| CoreLogic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/28 (144A) | 2584000 | &nbsp;&nbsp;&nbsp; 2505452 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 06/01/30 (144A) | 786000 | &nbsp;&nbsp;&nbsp; $811776 |
| Elastic NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/15/29 (144A) | 637000 | &nbsp;&nbsp;&nbsp; 611458 |
| Electronic Arts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 02/15/51 | 440000 | &nbsp;&nbsp;&nbsp; 381583 |
| Ellucian Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/29 (144A) | 1624000 | &nbsp;&nbsp;&nbsp; 1649851 |
| Fair Isaac Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/28 (144A) | 533000 | &nbsp;&nbsp;&nbsp; 518366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/33 (144A) | 3139000 | &nbsp;&nbsp;&nbsp; 3178059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Helios Software Holdings, Inc./ION Corporate Solutions Finance <br> SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/01/28 (144A) † | 250000 | &nbsp;&nbsp;&nbsp; 241788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 05/01/29 (EUR) † | 100000 | &nbsp;&nbsp;&nbsp; 122851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/01/29 (144A) † | 412000 | &nbsp;&nbsp;&nbsp; 427020 |
| IPD 3 BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119228 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 09/26/55 | 295000 | &nbsp;&nbsp;&nbsp; 294093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 09/26/65 | 445000 | &nbsp;&nbsp;&nbsp; 444180 |
| Playtika Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/15/29 (144A) | 215000 | &nbsp;&nbsp;&nbsp; 197385 |
| SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/32 (144A) | 1536000 | &nbsp;&nbsp;&nbsp; 1587974 |
| TeamSystem SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.526%, 3M EURIBOR + 3.500%, 07/31/31 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 117746 |
| Twilio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/29 (a) | 187000 | &nbsp;&nbsp;&nbsp; 178195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/15/31 | 350000 | &nbsp;&nbsp;&nbsp; 329095 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/01/31 (144A) | 6831000 | &nbsp;&nbsp;&nbsp; 7048465 |
| ZoomInfo Technologies LLC/ZoomInfo Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/01/29 (144A) (a) | 564000 | &nbsp;&nbsp;&nbsp; 534569 |
|  |  | &nbsp;&nbsp;&nbsp; 52113515 |
| **Telecommunications — 6.2%** | **Telecommunications — 6.2%** | **Telecommunications — 6.2%** |
| Altice Financing SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/28 (144A) | 400000 | &nbsp;&nbsp;&nbsp; 311000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/15/29 (144A) | 1276000 | &nbsp;&nbsp;&nbsp; 960190 |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 01/15/28 (EUR) | 171000 | &nbsp;&nbsp;&nbsp; 172656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/15/29 (144A) (d) | 400000 | &nbsp;&nbsp;&nbsp; 344000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/15/29 (144A) | 3401000 | &nbsp;&nbsp;&nbsp; 2904454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/29 (144A) | 1218000 | &nbsp;&nbsp;&nbsp; 1053492 |
| British Telecommunications PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 5Y UKG + 3.820%, 12/20/83 (GBP) (b) | 100000 | &nbsp;&nbsp;&nbsp; 144310 |
| CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 09/01/29 (144A) (a) | 2148000 | &nbsp;&nbsp;&nbsp; 2134210 |
| Connect Finco SARL/Connect U.S. Finco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/15/29 (144A) (a) | 400000 | &nbsp;&nbsp;&nbsp; 420562 |
| Digicel International Finance Ltd./Difl U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 08/01/32 (144A) | 2390000 | &nbsp;&nbsp;&nbsp; 2457358 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 6.750% PIK, 11/30/30 (c) | 5466841 | &nbsp;&nbsp;&nbsp; 5636040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/30/29 | 3434551 | &nbsp;&nbsp;&nbsp; 3778590 |

---

**BHFTI-69**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Telecommunications—(Continued)** | **Telecommunications—(Continued)** | **Telecommunications—(Continued)** |
| eircom Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/30/31 (EUR) | 103000 | &nbsp;&nbsp;&nbsp; $123862 |
| Eutelsat SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/13/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 110064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 04/13/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 126753 |
| Fibercop SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/30/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/30/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/30/34 (144A) | 1632000 | &nbsp;&nbsp;&nbsp; 1555560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 07/18/36 (144A) | 1000000 | &nbsp;&nbsp;&nbsp; 1007378 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/28 (144A) | 1753000 | &nbsp;&nbsp;&nbsp; 1749057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/27 (144A) | 734000 | &nbsp;&nbsp;&nbsp; 733557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29 | 483945 | &nbsp;&nbsp;&nbsp; 489037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/30 (144A) (a) | 635000 | &nbsp;&nbsp;&nbsp; 642470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/29 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 302992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 03/15/31 (144A) | 872000 | &nbsp;&nbsp;&nbsp; 919316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/15/30 (144A) | 3410000 | &nbsp;&nbsp;&nbsp; 3562239 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 01/15/29 (144A) | 168000 | &nbsp;&nbsp;&nbsp; 145396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/30 (144A) | 312000 | &nbsp;&nbsp;&nbsp; 272405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/31 (144A) | 150244 | &nbsp;&nbsp;&nbsp; 129174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/30 (144A) | 1303217 | &nbsp;&nbsp;&nbsp; 1190815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/29 (144A) | 2557000 | &nbsp;&nbsp;&nbsp; 2403836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 06/30/33 (144A) | 5385667 | &nbsp;&nbsp;&nbsp; 5488964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/31/34 (144A) | 5182000 | &nbsp;&nbsp;&nbsp; 5271696 |
| Lorca Telecom Bondco SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/18/27 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/30/29 (EUR) | 136000 | &nbsp;&nbsp;&nbsp; 166172 |
| Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/15/30 (144A) | 509141 | &nbsp;&nbsp;&nbsp; 498958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 10/15/32 (144A) | 567420 | &nbsp;&nbsp;&nbsp; 574035 |
| Maya SAS/Paris France |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 04/15/30 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 119913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 124711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/15/28 (144A) | 310000 | &nbsp;&nbsp;&nbsp; 314969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 04/15/32 (144A) | 972000 | &nbsp;&nbsp;&nbsp; 991249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 04/15/31 (144A) | 1500000 | &nbsp;&nbsp;&nbsp; 1608739 |
| Sable International Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 10/15/32 (144A) | 1265000 | &nbsp;&nbsp;&nbsp; 1284466 |
| SES SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/24/33 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 122238 |
| SoftBank Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/06/32 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 223502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/10/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/08/29 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 121620 |
| Telecom Italia Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.721%, 06/04/38 | 1033000 | &nbsp;&nbsp;&nbsp; 1144349 |
| Telefonica Europe BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.752%, 8Y EUR Swap + 3.121%, 01/15/32 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 124351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 8Y EUR Swap + 3.615%, 06/07/31 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 131097 |
| Viavi Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 10/01/29 (144A) | 467000 | &nbsp;&nbsp;&nbsp; 440301 |
| Vmed O2 U.K. Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/31/29 (GBP) | 100000 | &nbsp;&nbsp;&nbsp; 128083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/31/31 (144A) | 1613000 | &nbsp;&nbsp;&nbsp; 1495518 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Telecommunications—(Continued)** | **Telecommunications—(Continued)** | **Telecommunications—(Continued)** |
| Vmed O2 U.K. Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/31 (144A) | 600000 | &nbsp;&nbsp;&nbsp; $564748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/15/32 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 120353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/15/32 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 210128 |
| Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/15/33 (144A) | 979000 | &nbsp;&nbsp;&nbsp; 978736 |
| Windstream Services LLC/Windstream Escrow Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 10/01/31 (144A) | 3833000 | &nbsp;&nbsp;&nbsp; 3970514 |
| Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 03/09/30 (144A) (c) | 1700119 | &nbsp;&nbsp;&nbsp; 1627864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13.750%, 09/09/30 (144A) (c) | 686760 | &nbsp;&nbsp;&nbsp; 650705 |
| Zegona Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/15/29 (EUR) | 202600 | &nbsp;&nbsp;&nbsp; 251819 |
|  |  | &nbsp;&nbsp;&nbsp; 65007609 |
| **Transportation — 0.3%** | **Transportation — 0.3%** | **Transportation — 0.3%** |
| Edge Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 08/15/31 (GBP) | 140000 | &nbsp;&nbsp;&nbsp; 200760 |
| Genesee & Wyoming, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/32 (144A) | 1166000 | &nbsp;&nbsp;&nbsp; 1184822 |
| Mobico Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5Y UKG + 4.135%, 11/26/25 (GBP) (b) | 106000 | &nbsp;&nbsp;&nbsp; 87037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/26/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 92421 |
| Poste Italiane SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 5Y EUR Swap + 2.677%, 03/24/29 (EUR) (b) | 150000 | &nbsp;&nbsp;&nbsp; 169503 |
| Rand Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 02/15/30 (144A) (a) | 631000 | &nbsp;&nbsp;&nbsp; 655650 |
| SGL Group ApS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.745%, 3M EURIBOR + 4.750%, 04/22/30 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 116369 |
| Stonepeak Nile Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/15/32 (144A) (a) | 187000 | &nbsp;&nbsp;&nbsp; 196917 |
| Watco Cos. LLC/Watco Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 08/01/32 (144A) | 225000 | &nbsp;&nbsp;&nbsp; 232891 |
|  |  | &nbsp;&nbsp;&nbsp; 2936370 |
| **Trucking & Leasing — 0.9%** | **Trucking & Leasing — 0.9%** | **Trucking & Leasing — 0.9%** |
| FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/28 (144A) | 1001000 | &nbsp;&nbsp;&nbsp; 1001159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/15/33 (144A) (a) | 2280000 | &nbsp;&nbsp;&nbsp; 2294300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/31 (144A) (a) | 3045000 | &nbsp;&nbsp;&nbsp; 3185247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/15/32 (144A) | 1530000 | &nbsp;&nbsp;&nbsp; 1601179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/01/30 (144A) | 959000 | &nbsp;&nbsp;&nbsp; 1019078 |
|  |  | &nbsp;&nbsp;&nbsp; 9100963 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| Veolia Environnement SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.322%, 5Y EUR Swap + 1.837%, 10/24/32 (EUR) (b) | 100000 | &nbsp;&nbsp;&nbsp; 117638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $905,492,534) <br>|  | &nbsp;&nbsp;&nbsp; 929526964 |
| **Floating Rate Loans (h)—8.2%** | **Floating Rate Loans (h)—8.2%** | **Floating Rate Loans (h)—8.2%** |
| **Advertising — 0.3%** | **Advertising — 0.3%** | **Advertising — 0.3%** |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 8.278%, 1M TSFR + 4.000%, 08/23/28 | 1439155 | &nbsp;&nbsp;&nbsp; 1443652 |

---

**BHFTI-70**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Floating Rate Loans (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Advertising—(Continued)** | **Advertising—(Continued)** | **Advertising—(Continued)** |
| Neptune Bidco U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 USD Term Loan B, 9.429%, 3M TSFR + 5.000%, <br> 04/11/29<br>| 1073488 | &nbsp;&nbsp;&nbsp; $1024174 |
| Summer BC Holdco B SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 9.262%, 3M TSFR + 5.000%, <br> 02/15/29<br>| 226718 | &nbsp;&nbsp;&nbsp; 224451 |
|  |  | &nbsp;&nbsp;&nbsp; 2692277 |
| **Aerospace/Defense — 0.2%** | **Aerospace/Defense — 0.2%** | **Aerospace/Defense — 0.2%** |
| Air Comm Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 12/11/31 (i) | 7787 | &nbsp;&nbsp;&nbsp; 7816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.740% - 7.058%, 3M TSFR + 2.750%, <br> 12/11/31 (j)<br>| 160161 | &nbsp;&nbsp;&nbsp; 160762 |
| Kaman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 6.828%, 3M TSFR + <br> 2.500%, 02/26/32 (i)<br>| 58243 | &nbsp;&nbsp;&nbsp; 58134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.544% - 6.699%, 3M TSFR + 2.500%, <br> 02/26/32 (j)<br>| 614601 | &nbsp;&nbsp;&nbsp; 613448 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan M, 6.663%, 1M TSFR + 2.338%, 08/19/32 | 1192000 | &nbsp;&nbsp;&nbsp; 1192279 |
|  |  | &nbsp;&nbsp;&nbsp; 2032439 |
| **Apparel — 0.0%** | **Apparel — 0.0%** | **Apparel — 0.0%** |
| Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 7.308%, 3M TSFR + 3.250%, 09/12/32 | 420000 | &nbsp;&nbsp;&nbsp; 422625 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 01/28/32<br>| 674000 | &nbsp;&nbsp;&nbsp; 673579 |
| Tenneco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan A, 9.054%, 3M TSFR + 4.750%, 11/17/28 | 79965 | &nbsp;&nbsp;&nbsp; 78374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 9.102% - 9.304%, 3M TSFR + 5.000%, <br> 11/17/28 (j)<br>| 501169 | &nbsp;&nbsp;&nbsp; 491968 |
|  |  | &nbsp;&nbsp;&nbsp; 1243921 |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| Sazerac Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.700%, 1M TSFR + 2.500%, 07/09/32 | 315000 | &nbsp;&nbsp;&nbsp; 317264 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| Chamberlain Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.163%, 1M TSFR + 3.000%, 09/08/32 | 121474 | &nbsp;&nbsp;&nbsp; 121672 |
| CP Atlas Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 9.413%, 1M TSFR + 5.250%, 07/08/30 | 266000 | &nbsp;&nbsp;&nbsp; 258353 |
| Wilsonart LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.252%, 3M TSFR + 4.250%, 08/05/31 | 450117 | &nbsp;&nbsp;&nbsp; 435890 |
|  |  | &nbsp;&nbsp;&nbsp; 815915 |
| **Chemicals — 0.4%** | **Chemicals — 0.4%** | **Chemicals — 0.4%** |
| Aruba Investments Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 2nd Lien Term Loan, 12.013%, 1M TSFR + 7.750%, <br> 11/24/28<br>| 237600 | &nbsp;&nbsp;&nbsp; 217404 |
| Discovery Purchaser Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 8.082%, 3M TSFR + 3.750%, 10/04/29 | 654540 | &nbsp;&nbsp;&nbsp; 652173 |
| Lonza Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 8.027%, 3M TSFR + 3.925%, 07/03/28 | 833251 | &nbsp;&nbsp;&nbsp; 753259 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Chemicals—(Continued)** | **Chemicals—(Continued)** | **Chemicals—(Continued)** |
| Momentive Performance Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 8.163%, 1M TSFR + 4.000%, 03/29/28 | 193815 | &nbsp;&nbsp;&nbsp; $194299 |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 07/23/32 (k) | 574000 | &nbsp;&nbsp;&nbsp; 570233 |
| Oxea Holding Drei GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2017 USD Term Loan B2, 04/08/31 † (k) | 92154 | &nbsp;&nbsp;&nbsp; 85319 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 08/12/32 (k) | 850000 | &nbsp;&nbsp;&nbsp; 851063 |
| W.R. Grace & Co.-Conn. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.002%, 1M TSFR + 3.000%, 08/19/32 | 396000 | &nbsp;&nbsp;&nbsp; 397238 |
|  |  | &nbsp;&nbsp;&nbsp; 3720988 |
| **Commercial Services — 0.5%** | **Commercial Services — 0.5%** | **Commercial Services — 0.5%** |
| AlixPartners LLP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 6.163%, 1M TSFR + 2.000%, <br> 08/12/32 †<br>| 330003 | &nbsp;&nbsp;&nbsp; 328147 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.513%, 1M TSFR + 3.250%, <br> 08/20/32<br>| 1280241 | &nbsp;&nbsp;&nbsp; 1286133 |
| Archkey Solutions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan B, 11/01/31 (i) | 21031 | &nbsp;&nbsp;&nbsp; 21222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.252%, 3M TSFR + 4.250%, 11/01/31 | 181361 | &nbsp;&nbsp;&nbsp; 182721 |
| Camelot U.S. Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, 7.413%, 1M TSFR + <br> 3.250%, 01/31/31<br>| 740000 | &nbsp;&nbsp;&nbsp; 740154 |
| Crash Champions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.948%, 3M TSFR + 4.750%, 02/23/29 | 922325 | &nbsp;&nbsp;&nbsp; 864680 |
| Galaxy U.S. Opco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 6.308%, 3M TSFR + 2.000%, 3.750% PIK, <br> 07/31/30 (c)<br>| 341653 | &nbsp;&nbsp;&nbsp; 312470 |
| ION Platform Finance U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan, 09/30/32 (k) | 848000 | &nbsp;&nbsp;&nbsp; 839520 |
| Vortex Opco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Second Out Term Loan, 8.366%, 3M TSFR + 4.250%, <br> 12/17/28<br>| 207328 | &nbsp;&nbsp;&nbsp; 52091 |
| Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 01/30/31<br>| 522427 | &nbsp;&nbsp;&nbsp; 521080 |
|  |  | &nbsp;&nbsp;&nbsp; 5148218 |
| **Computers — 0.6%** | **Computers — 0.6%** | **Computers — 0.6%** |
| Amentum Government Services Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.413%, 1M TSFR + 2.250%, 09/29/31 | 71221 | &nbsp;&nbsp;&nbsp; 71221 |
| Atlas CC Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan B, 8.830%, 3M TSFR + 4.250%, <br> 05/25/29 †<br>| 423480 | &nbsp;&nbsp;&nbsp; 243501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan C, 8.568%, 3M TSFR + 4.250%, <br> 05/25/29 †<br>| 60761 | &nbsp;&nbsp;&nbsp; 34937 |
| Clover Holdings 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fixed Term Loan B, 7.750%, 12/09/31 | 4605457 | &nbsp;&nbsp;&nbsp; 4652963 |
| Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.255%, 1M TSFR + 3.000%, 06/27/31 | 90630 | &nbsp;&nbsp;&nbsp; 91196 |
| X Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Fixed Term Loan, 9.500%, 10/26/29 † | 1499500 | &nbsp;&nbsp;&nbsp; 1507935 |
|  |  | &nbsp;&nbsp;&nbsp; 6601753 |

---

**BHFTI-71**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Floating Rate Loans (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** |
| ACP Tara Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/17/32 (k) | 244000 | &nbsp;&nbsp;&nbsp; $244610 |
| **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** |
| Advisor Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 7.163%, 1M TSFR + 3.000%, 07/30/32 | 740164 | &nbsp;&nbsp;&nbsp; 740693 |
| Orion U.S. Finco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1st Lien Term Loan, 05/20/32 (k) | 230000 | &nbsp;&nbsp;&nbsp; 231413 |
| Summit Acquisition, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Add-on Term Loan, 7.663%, 3M TSFR + 3.500%, <br> 10/16/31<br>| 363260 | &nbsp;&nbsp;&nbsp; 366893 |
|  |  | &nbsp;&nbsp;&nbsp; 1338999 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| LSF12 Crown U.S. Commercial Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.663%, 1M TSFR + 3.500%, 12/02/31 | 803985 | &nbsp;&nbsp;&nbsp; 806162 |
| Pinnacle Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 09/10/32 (k) | 63824 | &nbsp;&nbsp;&nbsp; 63970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 09/10/32 (k) | 331883 | &nbsp;&nbsp;&nbsp; 332644 |
|  |  | &nbsp;&nbsp;&nbsp; 1202776 |
| **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** |
| Brand Industrial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.796%, 3M TSFR + 4.500%, 08/01/30 | 2363772 | &nbsp;&nbsp;&nbsp; 2146305 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| City Football Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.663% - 7.778%, 1M TSFR + 3.500%, <br> 07/22/30 (j)<br>| 479028 | &nbsp;&nbsp;&nbsp; 479626 |
| EOC Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.163%, 1M TSFR + 3.000%, 03/24/32 | 414657 | &nbsp;&nbsp;&nbsp; 415370 |
| Great Canadian Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.753%, 3M TSFR + 4.750%, 11/01/29 | 273644 | &nbsp;&nbsp;&nbsp; 264622 |
| OVG Business Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.163%, 1M TSFR + 3.000%, 06/25/31 | 32529 | &nbsp;&nbsp;&nbsp; 32570 |
|  |  | &nbsp;&nbsp;&nbsp; 1192188 |
| **Food — 0.0%** | **Food — 0.0%** | **Food — 0.0%** |
| Chobani LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 10/25/27<br>| 36723 | &nbsp;&nbsp;&nbsp; 36860 |
| **Healthcare-Products — 0.2%** | **Healthcare-Products — 0.2%** | **Healthcare-Products — 0.2%** |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, 8.166%, 1M TSFR + 4.000%, <br> 09/29/28<br>| 556640 | &nbsp;&nbsp;&nbsp; 557336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.413%, 1M TSFR + 4.250%, 01/15/31 | 1230837 | &nbsp;&nbsp;&nbsp; 1233914 |
|  |  | &nbsp;&nbsp;&nbsp; 1791250 |
| **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 8.068%, 3M TSFR + 3.750%, <br> 05/19/31<br>| 893689 | &nbsp;&nbsp;&nbsp; 892820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B1, 7.660%, 3M TSFR + <br> 3.500%, 05/19/31<br>| 404752 | &nbsp;&nbsp;&nbsp; 403379 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** |
| Quorum Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan, 10.602%, 3M TSFR + 6.500%, 01/28/28 <br> †<br>| 655904 | &nbsp;&nbsp;&nbsp; $475530 |
| Star Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.002%, 3M TSFR + 4.000%, 09/27/30 | 1572621 | &nbsp;&nbsp;&nbsp; 1574051 |
|  |  | &nbsp;&nbsp;&nbsp; 3345780 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| Hunter Douglas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.252%, 3M TSFR + 3.250%, <br> 01/20/32 †<br>| 248610 | &nbsp;&nbsp;&nbsp; 248869 |
| Springs Windows Fashions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 FLFO A1 Term Loan, 8.663%, 1M TSFR + 4.500%, <br> 12/19/29<br>| 111807 | &nbsp;&nbsp;&nbsp; 112506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 FLFO Delayed Draw Term Loan, 12/19/29 (i) | 149076 | &nbsp;&nbsp;&nbsp; 150008 |
|  |  | &nbsp;&nbsp;&nbsp; 511383 |
| **Insurance — 0.3%** | **Insurance — 0.3%** | **Insurance — 0.3%** |
| Ardonagh Midco 3 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 6.752% - 6.950%, 3M TSFR + <br> 2.750%, 6M TSFR + 2.750%, 02/15/31 (j)<br>| 473366 | &nbsp;&nbsp;&nbsp; 471887 |
| Asurion LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B13, 8.413%, 1M TSFR + 4.250%, <br> 09/19/30<br>| 459007 | &nbsp;&nbsp;&nbsp; 456712 |
| Howden Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 7.663%, 1M TSFR + 3.500%, <br> 04/18/30<br>| 84566 | &nbsp;&nbsp;&nbsp; 84914 |
| OneDigital Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 7.163%, 1M TSFR + 3.000%, <br> 07/02/31<br>| 101743 | &nbsp;&nbsp;&nbsp; 101488 |
| Truist Insurance Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, 8.752%, 3M TSFR + 4.750%, <br> 05/06/32<br>| 1763106 | &nbsp;&nbsp;&nbsp; 1798735 |
|  |  | &nbsp;&nbsp;&nbsp; 2913736 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| MH Sub I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 8.252%, 3M TSFR + 4.250%, 05/03/28 | 875855 | &nbsp;&nbsp;&nbsp; 846022 |
| Proofpoint, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Fungible Term Loan, 08/31/28 (k) | 146000 | &nbsp;&nbsp;&nbsp; 146755 |
| PUG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B, 8.913%, 1M TSFR + 4.750%, <br> 03/15/30<br>| 548218 | &nbsp;&nbsp;&nbsp; 543763 |
|  |  | &nbsp;&nbsp;&nbsp; 1536540 |
| **Investment Companies — 0.1%** | **Investment Companies — 0.1%** | **Investment Companies — 0.1%** |
| AAL Delaware Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.913%, 1M TSFR + 2.750%, 07/30/31 | 122691 | &nbsp;&nbsp;&nbsp; 123228 |
| Gryphon Acquire Newco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.879%, 6M TSFR + 3.000%, 09/13/32 | 807000 | &nbsp;&nbsp;&nbsp; 809522 |
|  |  | &nbsp;&nbsp;&nbsp; 932750 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, 7.778%, 1M TSFR + 3.500%, <br> 12/17/27<br>| 51256 | &nbsp;&nbsp;&nbsp; 48853 |

---

**BHFTI-72**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Floating Rate Loans (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Leisure Time—(Continued)** | **Leisure Time—(Continued)** | **Leisure Time—(Continued)** |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, 7.778%, 1M TSFR + 3.500%, <br> 12/17/27<br>| 16875 | &nbsp;&nbsp;&nbsp; $16084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 8.513%, 1M TSFR + 4.250%, 06/30/28 | 9074 | &nbsp;&nbsp;&nbsp; 8495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 10.263%, 1M TSFR + 6.000%, <br> 11/15/29<br>| 144933 | &nbsp;&nbsp;&nbsp; 137143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 10.263%, 1M TSFR + 6.000%, <br> 11/15/29<br>| 71418 | &nbsp;&nbsp;&nbsp; 67580 |
|  |  | &nbsp;&nbsp;&nbsp; 278155 |
| **Machinery-Diversified — 0.2%** | **Machinery-Diversified — 0.2%** | **Machinery-Diversified — 0.2%** |
| GrafTech Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan, 12/21/29 (i) | 158973 | &nbsp;&nbsp;&nbsp; 162948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 10.158%, 1M TSFR + 6.000%, 12/21/29 | 278204 | &nbsp;&nbsp;&nbsp; 285159 |
| Titan Acquisition Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.589% - 7.916%, 1M TSFR + 3.750%, <br> 6M TSFR + 3.750%, 02/15/29 (j)<br>| 2061621 | &nbsp;&nbsp;&nbsp; 2068063 |
|  |  | &nbsp;&nbsp;&nbsp; 2516170 |
| **Media — 0.6%** | **Media — 0.6%** | **Media — 0.6%** |
| Coral-U.S. Co-Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B7, 7.568%, 3M TSFR + 3.250%, <br> 01/31/32<br>| 392248 | &nbsp;&nbsp;&nbsp; 388921 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2019 Term Loan B5, 8.750%, PRIME + 1.500%, 04/15/27 | 1022318 | &nbsp;&nbsp;&nbsp; 990051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B6, 8.650%, 1M TSFR + 4.500%, <br> 01/18/28<br>| 1025275 | &nbsp;&nbsp;&nbsp; 1021430 |
| DirecTV Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 9.808%, 3M TSFR + 5.500%, 02/17/31 | 1869140 | &nbsp;&nbsp;&nbsp; 1832537 |
| Gray Television, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan D, 7.395%, 1M TSFR + 3.000%, 12/01/28 | 307959 | &nbsp;&nbsp;&nbsp; 308323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 9.530%, 1M TSFR + 5.250%, 06/04/29 | 2890 | &nbsp;&nbsp;&nbsp; 2896 |
| Radiate Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 FLFO Term Loan, 7.778%, 1M TSFR + 3.500%, 1.500% <br> PIK, 09/25/29 (c)<br>| 1271615 | &nbsp;&nbsp;&nbsp; 1031597 |
| Virgin Media Bristol LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 USD Term Loan Q, 7.515%, 1M TSFR + 3.250%, <br> 01/31/29<br>| 200000 | &nbsp;&nbsp;&nbsp; 200148 |
|  |  | &nbsp;&nbsp;&nbsp; 5775903 |
| **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** |
| Stakeholder Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 8.042%, 3M TSFR + 4.000%, 01/01/31 | 678000 | &nbsp;&nbsp;&nbsp; 676305 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| Star Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 8.663%, 1M TSFR + 4.500%, <br> 07/31/31<br>| 211651 | &nbsp;&nbsp;&nbsp; 210428 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 1st Lien Term Loan, 9.263%, 1M TSFR + 5.000%, <br> 10/30/28<br>| 1051539 | &nbsp;&nbsp;&nbsp; 867257 |
| **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** |
| Amneal Pharmaceuticals LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.663%, 1M TSFR + 3.500%, 08/01/32 | 1038000 | &nbsp;&nbsp;&nbsp; 1038000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** |
| Endo Luxembourg Finance Co. I SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan, 8.163%, 1M TSFR + 4.000%, <br> 04/23/31<br>| 477514 | &nbsp;&nbsp;&nbsp; $478857 |
| Gainwell Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.102%, 3M TSFR + 4.000%, 10/01/27 † | 958314 | &nbsp;&nbsp;&nbsp; 945736 |
|  |  | &nbsp;&nbsp;&nbsp; 2462593 |
| **Retail — 0.5%** | **Retail — 0.5%** | **Retail — 0.5%** |
| Boots Group Bidco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan, 7.705%, 3M TSFR + 3.500%, 08/30/32 | 2224000 | &nbsp;&nbsp;&nbsp; 2230950 |
| Foundation Building Materials Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 7.820%, 3M TSFR + 3.250%, 01/31/28 | 405468 | &nbsp;&nbsp;&nbsp; 406283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 8.308%, 3M TSFR + 4.000%, <br> 01/29/31<br>| 1322147 | &nbsp;&nbsp;&nbsp; 1325689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 11.500%, 3M TSFR + 5.250%, 01/29/31 | 232318 | &nbsp;&nbsp;&nbsp; 233479 |
| White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.416%, 1M TSFR + 3.250%, 10/19/29 | 1326706 | &nbsp;&nbsp;&nbsp; 1328516 |
|  |  | &nbsp;&nbsp;&nbsp; 5524917 |
| **Software — 1.7%** | **Software — 1.7%** | **Software — 1.7%** |
| Applied Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, 8.502%, 3M TSFR + 4.500%, <br> 02/23/32<br>| 191637 | &nbsp;&nbsp;&nbsp; 196668 |
| Ascend Learning LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 7.163%, 1M TSFR + 3.000%, <br> 12/11/28<br>| 30731 | &nbsp;&nbsp;&nbsp; 30725 |
| AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 6.913%, 1M TSFR + 2.750%, 02/15/29 | 1918039 | &nbsp;&nbsp;&nbsp; 1915642 |
| Boxer Parent Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, 9.949%, 3M TSFR + 5.750%, <br> 07/30/32<br>| 558000 | &nbsp;&nbsp;&nbsp; 545212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.199%, 3M TSFR + 3.000%, <br> 07/30/31<br>| 382874 | &nbsp;&nbsp;&nbsp; 382814 |
| Central Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.252%, 3M TSFR + 3.250%, 07/06/29 | 191684 | &nbsp;&nbsp;&nbsp; 166086 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2031), 7.252%, 3M TSFR + 3.250%, <br> 03/21/31<br>| 1463036 | &nbsp;&nbsp;&nbsp; 1469503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2032), 7.252%, 3M TSFR + 3.250%, <br> 08/13/32<br>| 410616 | &nbsp;&nbsp;&nbsp; 412241 |
| Cloudera, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan, 10.263%, 1M TSFR + 6.000%, <br> 10/08/29<br>| 635564 | &nbsp;&nbsp;&nbsp; 579952 |
| Clover Holdings SPV III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan, 15.000%, 12/09/27 | 48246 | &nbsp;&nbsp;&nbsp; 49090 |
| CoreLogic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, 10.778%, 1M TSFR + 6.500%, <br> 06/04/29<br>| 524226 | &nbsp;&nbsp;&nbsp; 524445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.778%, 1M TSFR + 3.500%, 06/02/28 | 329421 | &nbsp;&nbsp;&nbsp; 329833 |
| Cotiviti Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Fixed Term Loan B, 7.625%, 05/01/31 | 6704543 | &nbsp;&nbsp;&nbsp; 6754827 |
| Ellucian Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 10/09/29<br>| 116707 | &nbsp;&nbsp;&nbsp; 116838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, 8.913%, 1M TSFR + 4.750%, <br> 11/22/32<br>| 1743000 | &nbsp;&nbsp;&nbsp; 1784396 |

---

**BHFTI-73**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Floating Rate Loans (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Finastra USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan, 8.038%, 3M TSFR + 4.000%, <br> 07/30/32<br>| 2076000 | &nbsp;&nbsp;&nbsp; $2069772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Lien Term Loan, 11.038%, 3M TSFR + 7.000%, <br> 09/15/33<br>| 449000 | &nbsp;&nbsp;&nbsp; 448439 |
| Mitchell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan, 7.413%, 1M TSFR + 3.250%, <br> 06/17/31<br>| 191437 | &nbsp;&nbsp;&nbsp; 191497 |
| RealPage, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan, 7.752%, 3M TSFR + 3.750%, <br> 04/24/28<br>| 397005 | &nbsp;&nbsp;&nbsp; 398777 |
|  |  | &nbsp;&nbsp;&nbsp; 18366757 |
| **Telecommunications — 1.0%** | **Telecommunications — 1.0%** | **Telecommunications — 1.0%** |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 USD Term Loan B14, 9.818%, 3M TSFR + 5.500%, <br> 08/15/28<br>| 657630 | &nbsp;&nbsp;&nbsp; 628859 |
| CommScope, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 8.913%, 1M TSFR + 4.750%, 12/17/29 | 815913 | &nbsp;&nbsp;&nbsp; 826520 |
| Delta TopCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, 9.240% - 9.523%, 1M TSFR + <br> 5.250%, 3M TSFR + 5.250%, 11/29/30 (j)<br>| 159000 | &nbsp;&nbsp;&nbsp; 158801 |
| Digicel International Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 9.492%, 3M TSFR + 5.250%, 08/06/32 | 788000 | &nbsp;&nbsp;&nbsp; 788985 |
| Frontier Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.650%, 1M TSFR + 2.500%, 07/01/31 | 200488 | &nbsp;&nbsp;&nbsp; 200926 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B4, 7.416%, 1M TSFR + 3.250%, <br> 03/27/32<br>| 3155000 | &nbsp;&nbsp;&nbsp; 3160259 |
| Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B1, 6.628%, 1M TSFR + 2.350%, <br> 04/16/29<br>| 520468 | &nbsp;&nbsp;&nbsp; 517606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B2, 6.628%, 1M TSFR + 2.350%, <br> 04/15/30<br>| 271228 | &nbsp;&nbsp;&nbsp; 269702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan A, 10.163%, 1M TSFR + 6.000%, <br> 06/01/28<br>| 127788 | &nbsp;&nbsp;&nbsp; 130450 |
| Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 9.013%, 1M TSFR + 4.750%, 10/01/31 | 312000 | &nbsp;&nbsp;&nbsp; 313560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/24/32 (k) | 593000 | &nbsp;&nbsp;&nbsp; 588182 |
| Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 7.608%, 3M STFR + 3.610%, <br> 03/25/30<br>| 2747269 | &nbsp;&nbsp;&nbsp; 2674013 |
|  |  | &nbsp;&nbsp;&nbsp; 10257863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Floating Rate Loans <br>(Cost $87,442,985) <br>|  | &nbsp;&nbsp;&nbsp; 87124925 |
| **Convertible Bonds—0.8%** | **Convertible Bonds—0.8%** | **Convertible Bonds—0.8%** |
| **Commercial Services — 0.0%** | **Commercial Services — 0.0%** | **Commercial Services — 0.0%** |
| Worldline SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/30/26 (EUR) | 6500 | &nbsp;&nbsp;&nbsp; 7276 |
| **Energy-Alternate Sources — 0.4%** | **Energy-Alternate Sources — 0.4%** | **Energy-Alternate Sources — 0.4%** |
| XPLR Infrastructure LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/25 (144A) | 1730000 | &nbsp;&nbsp;&nbsp; 1717025 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Energy-Alternate Sources—(Continued)** | **Energy-Alternate Sources—(Continued)** | **Energy-Alternate Sources—(Continued)** |
| XPLR Infrastructure LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/15/26 (144A) | 1731000 | &nbsp;&nbsp;&nbsp; $1687725 |
|  |  | &nbsp;&nbsp;&nbsp; 3404750 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 05/15/28 (a) | 1071000 | &nbsp;&nbsp;&nbsp; 1096128 |
| **Lodging — 0.0%** | **Lodging — 0.0%** | **Lodging — 0.0%** |
| Wynn Macau Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/07/29 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 215400 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Cable One, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/15/26 | 230000 | &nbsp;&nbsp;&nbsp; 224021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 03/15/28 | 1081000 | &nbsp;&nbsp;&nbsp; 922634 |
|  |  | &nbsp;&nbsp;&nbsp; 1146655 |
| **Real Estate Investment Trusts — 0.0%** | **Real Estate Investment Trusts — 0.0%** | **Real Estate Investment Trusts — 0.0%** |
| Digital Realty Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/29 (144A) | 216000 | &nbsp;&nbsp;&nbsp; 226800 |
| **Semiconductors — 0.2%** | **Semiconductors — 0.2%** | **Semiconductors — 0.2%** |
| MKS, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 06/01/30 | 1157000 | &nbsp;&nbsp;&nbsp; 1266915 |
| ON Semiconductor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 03/01/29 | 675000 | &nbsp;&nbsp;&nbsp; 622803 |
|  |  | &nbsp;&nbsp;&nbsp; 1889718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Bonds <br>(Cost $7,980,454) <br>|  | &nbsp;&nbsp;&nbsp; 7986727 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks—0.7%** | **Common Stocks—0.7%** | **Common Stocks—0.7%** |
| **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
| Nine Energy Service, Inc. (l) | 1095 | &nbsp;&nbsp;&nbsp; 692 |
| **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** |
| Quorum Health † (l) | 7776 | &nbsp;&nbsp;&nbsp; 5832 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| Churchill Downs, Inc.  | 5646 | &nbsp;&nbsp;&nbsp; 547718 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| Constellium SE (l) | 82377 | &nbsp;&nbsp;&nbsp; 1225770 |
| **Oil, Gas & Consumable Fuels — 0.4%** | **Oil, Gas & Consumable Fuels — 0.4%** | **Oil, Gas & Consumable Fuels — 0.4%** |
| Energy Transfer LP | 112268 | &nbsp;&nbsp;&nbsp; 1926518 |
| Enterprise Products Partners LP | 42746 | &nbsp;&nbsp;&nbsp; 1336667 |
| MPLX LP | 13946 | &nbsp;&nbsp;&nbsp; 696603 |
| Plains All American Pipeline LP | 5745 | &nbsp;&nbsp;&nbsp; 98010 |
| Western Midstream Partners LP | 3454 | &nbsp;&nbsp;&nbsp; 135708 |
|  |  | &nbsp;&nbsp;&nbsp; 4193506 |
| **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** |
| ADLER Group SA (f) (g) (l) | 66810 | &nbsp;&nbsp;&nbsp; 0 |

---

**BHFTI-74**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| VICI Properties, Inc. (a) | 59364 | &nbsp;&nbsp;&nbsp; $1935860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $7,664,540) <br>|  | &nbsp;&nbsp;&nbsp; 7909378 |
| **Convertible Preferred Stocks—0.2%** | **Convertible Preferred Stocks—0.2%** | **Convertible Preferred Stocks—0.2%** |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| Boeing Co., 6.000%, 10/15/27 | 11193 | &nbsp;&nbsp;&nbsp; 778697 |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| Shift4 Payments, Inc., 6.000%, 05/01/28 | 3376 | &nbsp;&nbsp;&nbsp; 320281 |
| **IT Services — 0.0%** | **IT Services — 0.0%** | **IT Services — 0.0%** |
| Cohesity Global, Inc. - Series G-1 (l) | 902 | &nbsp;&nbsp;&nbsp; 20295 |
| Cohesity Global, Inc. - Series G (l) | 1305 | &nbsp;&nbsp;&nbsp; 29363 |
|  |  | &nbsp;&nbsp;&nbsp; 49658 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| Microchip Technology, Inc., 7.500%, 03/15/28 | 16100 | &nbsp;&nbsp;&nbsp; 950383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Cost $1,844,751) <br>|  | &nbsp;&nbsp;&nbsp; 2099019 |
| **Escrow Shares—0.0%** | **Escrow Shares—0.0%** | **Escrow Shares—0.0%** |
| **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Lehman Brothers Holdings, Inc. (l) <br>(Cost $0)<br>| 2229000 | &nbsp;&nbsp;&nbsp; 2006 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—1.9%** | **Short-Term Investments—1.9%** | **Short-Term Investments—1.9%** |
| **Repurchase Agreement—1.9%** | **Repurchase Agreement—1.9%** | **Repurchase Agreement—1.9%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $19,839,953; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $20,235,220<br>| 19838300 | &nbsp;&nbsp;&nbsp; 19838300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $19,838,300) <br>|  | &nbsp;&nbsp;&nbsp; 19838300 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (m)—13.0%** | **Securities Lending Reinvestments (m)—13.0%** | **Securities Lending Reinvestments (m)—13.0%** |
| **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (n)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (n)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 2000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—0.9%** | **Certificates of Deposit—0.9%** | **Certificates of Deposit—0.9%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (b) | 3000000 | &nbsp;&nbsp;&nbsp; 2999996 |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, SOFR + 0.330%, 07/22/26 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 999989 |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1000967 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (b) | 1000000 | &nbsp;&nbsp;&nbsp; $1000131 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2000110 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000240 |
|  |  | &nbsp;&nbsp;&nbsp; 10001433 |
| **Commercial Paper—0.6%** | **Commercial Paper—0.6%** | **Commercial Paper—0.6%** |
| Chesham Finance Ltd./Chesham Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/03/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999306 |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999518 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, SOFR + 0.150%, 10/06/25 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1999998 |
|  |  | &nbsp;&nbsp;&nbsp; 5998822 |
| **Repurchase Agreements—10.3%** | **Repurchase Agreements—10.3%** | **Repurchase Agreements—10.3%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $3,000,350; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $10,001,172; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,123,358<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $15,001,779; <br> collateralized by various Common Stock with an aggregate <br> market value of $16,685,036<br>| 15000000 | &nbsp;&nbsp;&nbsp; 15000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,517,312; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $1,671,022<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1500000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $10,001,161; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $10,200,005<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $2,300,265; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $2,346,000<br>| 2300000 | &nbsp;&nbsp;&nbsp; 2300000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $9,590,969; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $9,781,650<br>| 9589853 | &nbsp;&nbsp;&nbsp; 9589853 |

---

**BHFTI-75**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Securities Lending Reinvestments (m)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $15,501,843; <br> collateralized by various Common Stock with an aggregate <br> market value of $17,283,959<br>| 15500000 | &nbsp;&nbsp;&nbsp; $15500000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $17,002,021; <br> collateralized by various Common Stock with an aggregate <br> market value of $18,956,601<br>| 17000000 | &nbsp;&nbsp;&nbsp; 17000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $7,005,853; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $7,785,315<br>| 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $3,000,350; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 6.750%, maturity dates ranging from 10/31/25 - 05/15/55, <br> and an aggregate market value of $3,060,357<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $5,021,194; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,556,228<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $2,500,284; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $2,550,000<br>| 2500000 | &nbsp;&nbsp;&nbsp; 2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $7,000,828; collateralized <br> by various Common Stock with an aggregate market value of <br> $7,787,094<br>| 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |
|  |  | &nbsp;&nbsp;&nbsp; 108389853 |
| **Time Deposits—1.0%** | **Time Deposits—1.0%** | **Time Deposits—1.0%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 11000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $137,389,170) <br>|  | &nbsp;&nbsp;&nbsp; 137390108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—112.8% <br>(Cost $1,167,652,734)<br>|  | &nbsp;&nbsp;&nbsp; 1191877427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unfunded Loan Commitments—0.0% <br>(Cost $(414160))<br>|  | &nbsp;&nbsp;&nbsp; (414160)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Net Investments—112.8% <br>(Cost $1,167,238,574) <br>|  | &nbsp;&nbsp;&nbsp; 1191463267 |
| Other assets and liabilities (net)—(12.8)%  |  | &nbsp;&nbsp;&nbsp; (135183754)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1056279513 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Principal amount stated in U.S. dollars unless otherwise noted. |
| † | Restricted securities are not registered under the Securities Act of 1933 and are subject to <br> legal restrictions on resale. These securities generally may be resold in transactions exempt <br> from registration or to the public if the securities are subsequently registered. Disposal of <br> these securities may involve time-consuming negotiations and prompt sale at an acceptable <br> price may be difficult. As of September 30, 2025, the market value of restricted securities <br> was $28,130,352, which is 2.7% of net assets. See details shown in the Restricted Securities <br> table that follows.<br>|
| (a) | All or a portion of the security was held on loan. As of September 30, 2025, the market value <br> of securities loaned was $154,851,752 and the collateral received consisted of cash in the <br> amount of $137,387,338 and non-cash collateral with a value of $24,942,217. The cash <br> collateral investments are disclosed in the Schedule of Investments and categorized as <br> Securities Lending Reinvestments. The non-cash collateral received consists of U.S. <br> government securities that are held in safe-keeping by the lending agent, or a third-party <br> custodian, and cannot be sold or repledged by the Portfolio.<br>|
| (b) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (c) | Payment-in kind security for which part of the income earned may be paid as additional <br> principal.<br>|
| (d) | Non-income producing; security is in default and/or issuer is in bankruptcy. |
| (e) | Security is a "step up" bond where coupon increases or steps up at a predetermined date. <br> Rate shown is current coupon rate.<br>|
| (f) | Security was valued in good faith under procedures subject to oversight by the Board of <br> Trustees. As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (g) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. <br> Level 3.<br>|
| (h) | Floating rate loans ("Senior Loans") often require prepayments from excess cash flows or <br> permit the borrowers to repay at their election. The degree to which borrowers repay, <br> whether as a contractual requirement or at their election, cannot be predicted with accuracy. <br> As a result, the actual remaining maturity may be substantially less than the stated maturities <br> shown. However, Senior Loans will generally have an expected average life of approximately <br> two to four years. Senior Loans typically have rates of interest which are determined <br> periodically by reference to a base lending rate, plus a spread. These base rates are primarily <br> the Secured Overnight Financing Rate and secondarily, the prime rate offered by one or more <br>|

---

**BHFTI-76**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

---

| | |
|:---|:---|
|  | major United States banks. Base lending rates may be subject to a floor, or a minimum rate. |
| (i) | Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain <br> credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to <br> fund these commitments at the borrower's discretion.<br>|
| (j) | The stated interest rates represent the range of rates applicable to the underlying contracts <br> within the loan tranche as of September 30, 2025.<br>|
| (k) | This loan will settle after September 30, 2025, at which time the interest rate will be <br> determined.<br>|
| (l) | Non-income producing security. |
| (m) | Represents investment of cash collateral received from securities on loan as of September 30,  |

---

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(n) The rate shown represents the annualized seven-day yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025, the market value of 144A securities
 was $814,076,174, which is 77.1% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Shares/** <br>**Principal** <br>**Amount** | **Shares/** <br>**Principal** <br>**Amount** | **Cost** | **Value** |
| 1261229 BC Ltd., 10.000%, 04/15/32 | 03/25/25-07/31/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; $9018849 | &nbsp;&nbsp; $9225468 |
| Acuris Finance U.S., Inc./Acuris Finance SARL, 5.000%, 05/01/28 | 05/07/21-01/25/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1460000 | &nbsp;&nbsp; 1441679 | &nbsp;&nbsp; 1418939 |
| Acuris Finance U.S., Inc./Acuris Finance SARL, 9.000%, 08/01/29 | 07/25/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 298000 | &nbsp;&nbsp; 298000 | &nbsp;&nbsp; 311410 |
| AlixPartners LLP, 6.163%, 08/12/32 | 07/31/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 330003 | &nbsp;&nbsp; 329192 | &nbsp;&nbsp; 328147 |
| Atlas CC Acquisition Corp., 8.568%, 05/25/29 | 07/25/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 60761 | &nbsp;&nbsp; 44691 | &nbsp;&nbsp; 34937 |
| Atlas CC Acquisition Corp., 8.830%, 05/25/29 | 07/25/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 423480 | &nbsp;&nbsp; 311801 | &nbsp;&nbsp; 243501 |
| Bausch Health Cos., Inc., 4.875%, 06/01/28 | 08/19/25-09/24/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 138725 |
| Bausch Health Cos., Inc., 11.000%, 09/30/28 | 07/15/24-03/20/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 3067000 | &nbsp;&nbsp; 2976903 | &nbsp;&nbsp; 3189739 |
| Diversified Healthcare Trust, 7.250%, 10/15/30 | 09/15/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 376042 |
| Dream Finders Homes, Inc., 8.250%, 08/15/28 | 08/08/23 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 277000 | &nbsp;&nbsp; 277000 | &nbsp;&nbsp; 287375 |
| Gainwell Acquisition Corp., 8.102%, 10/01/27 | 02/14/22-04/10/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 958314 | &nbsp;&nbsp; 943164 | &nbsp;&nbsp; 945736 |
| Goat Holdco LLC, 6.750%, 02/01/32 | 12/10/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 815000 | &nbsp;&nbsp; 815458 | &nbsp;&nbsp; 835375 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.625%, 05/01/28 | 04/26/21-04/29/21 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249796 | &nbsp;&nbsp; 241788 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 7.875%, 05/01/29 | 09/13/24 | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111658 | &nbsp;&nbsp; 122851 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 8.750%, 05/01/29 | 04/25/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 412000 | &nbsp;&nbsp; 412000 | &nbsp;&nbsp; 427020 |
| Hunter Douglas, Inc., 7.252%, 01/20/32 | 02/09/22 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 248610 | &nbsp;&nbsp; 247958 | &nbsp;&nbsp; 248869 |
| ION Trading Technologies SARL, 9.500%, 05/30/29 | 05/20/24-05/14/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 607564 | &nbsp;&nbsp; 633705 |
| Lightning Power LLC, 7.250%, 08/15/32 | 08/07/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 237000 | &nbsp;&nbsp; 237000 | &nbsp;&nbsp; 250916 |
| Oxea Holding Drei GmbH, 04/08/31 | 05/16/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 92154 | &nbsp;&nbsp; 87867 | &nbsp;&nbsp; 85319 |
| Quorum Health | 01/08/25 |  | &nbsp;&nbsp; 7776 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 5832 |
| Quorum Health Corp., 10.602%, 01/28/28 | 07/07/20-07/10/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 655904 | &nbsp;&nbsp; 636074 | &nbsp;&nbsp; 475530 |
| Service Properties Trust, Zero Coupon, 09/30/28 | 09/15/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 727000 | &nbsp;&nbsp; 627586 | &nbsp;&nbsp; 640873 |
| Service Properties Trust, 8.625%, 11/15/31 | 11/08/23-05/09/253 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 4612000 | &nbsp;&nbsp; 4698613 | &nbsp;&nbsp; 4910369 |
| Service Properties Trust, 8.875%, 06/15/32 | 05/17/24-05/21/24 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1237000 | &nbsp;&nbsp; 1203148 | &nbsp;&nbsp; 1243951 |
| X Corp., 9.500%, 10/26/29 | 02/13/25-04/28/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1499500 | &nbsp;&nbsp; 1501905 | &nbsp;&nbsp; 1507935 |
|  |  |  |  |  | &nbsp;&nbsp; $28130352 |

---

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| EUR | &nbsp;&nbsp; 1556408 | CIBC | 12/17/25 | USD | 1834241 | &nbsp;&nbsp; $(1074)<br>|
| EUR | &nbsp;&nbsp; 100000 | JPMC | 12/17/25 | USD | 117330 | &nbsp;&nbsp; (590)<br>|
| EUR | &nbsp;&nbsp; 140000 | JPMC | 12/17/25 | USD | 165664 | &nbsp;&nbsp; 576 |
| EUR | &nbsp;&nbsp; 28258000 | MSIP | 12/17/25 | USD | 33415028 | &nbsp;&nbsp; 93228 |
| EUR | &nbsp;&nbsp; 104000 | NWM | 12/17/25 | USD | 121831 | &nbsp;&nbsp; (806)<br>|
| EUR | &nbsp;&nbsp; 196000 | TDB | 12/17/25 | USD | 230382 | &nbsp;&nbsp; (741)<br>|
| EUR | &nbsp;&nbsp; 204000 | TDB | 12/17/25 | USD | 240055 | &nbsp;&nbsp; (501)<br>|
| EUR | &nbsp;&nbsp; 761000 | UBSA | 12/17/25 | USD | 899007 | &nbsp;&nbsp; 1637 |
| GBP | &nbsp;&nbsp; 236087 | BNY | 12/17/25 | USD | 319929 | &nbsp;&nbsp; 2384 |

---

**BHFTI-77**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| GBP | &nbsp;&nbsp; 2585000 | RBC | 12/17/25 | USD | 3506038 | &nbsp;&nbsp; $29121 |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp; $123234 |

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (3)<br>| USD | (349781)<br>| &nbsp;&nbsp;&nbsp; $(942)<br>|
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (3)<br>| USD | (360188)<br>| &nbsp;&nbsp;&nbsp; (1411)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp;&nbsp; $(2353)<br>|

---

**Centrally Cleared Credit Default Swap Contracts on Credit Indices—Sell Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| CDX.NA.HY.45.V1 | 5.000% | &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/20/30 | &nbsp;&nbsp; 3.208% | &nbsp;&nbsp; USD | 22811786 | &nbsp;&nbsp; $1759656 | &nbsp;&nbsp; $1735396 | &nbsp;&nbsp; $24260 |

---

**OTC Credit Default Swap Contracts on Corporate Issues—Sell Protection (a)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| &nbsp;&nbsp;&nbsp; ADLER Real Estate AG <br>3.000%, due 04/27/26<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/21/27 | &nbsp;&nbsp; BBP | 2.374<br> %<br>| &nbsp;&nbsp; EUR | 1762 | &nbsp;&nbsp; $113 | &nbsp;&nbsp; $(148)<br>| &nbsp;&nbsp; $261 |
| &nbsp;&nbsp;&nbsp; ADLER Real Estate AG <br>3.000%, due 04/27/26<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/21/27 | &nbsp;&nbsp; BBP | 2.374<br> %<br>| &nbsp;&nbsp; EUR | 4952 | &nbsp;&nbsp; 320 | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; 735 |
| &nbsp;&nbsp;&nbsp; ADLER Real Estate AG <br>3.000%, due 04/27/26<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/21/27 | &nbsp;&nbsp; CBNA | 2.374<br> %<br>| &nbsp;&nbsp; EUR | 1437 | &nbsp;&nbsp; 93 | &nbsp;&nbsp; (123)<br>| &nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp; ADLER Real Estate AG <br>3.000%, due 04/27/26<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/21/27 | &nbsp;&nbsp; JPMC | 2.374<br> %<br>| &nbsp;&nbsp; EUR | 1849 | &nbsp;&nbsp; 119 | &nbsp;&nbsp; (164)<br>| &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; CMA CGM SA <br>7.500%, due 01/15/26<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 06/22/27 | &nbsp;&nbsp; MSIP | 0.862<br> %<br>| &nbsp;&nbsp; EUR | 77000 | &nbsp;&nbsp; 6340 | &nbsp;&nbsp; 6580 | &nbsp;&nbsp; (240)<br>|
| &nbsp;&nbsp;&nbsp; Forvia SE <br>3.125%, due 06/15/26<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 06/21/29 | &nbsp;&nbsp; BBP | 1.953<br> %<br>| &nbsp;&nbsp; EUR | 55000 | &nbsp;&nbsp; 6886 | &nbsp;&nbsp; 5372 | &nbsp;&nbsp; 1514 |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance PLC <br>3.750%, due 07/15/30<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/23/25 | &nbsp;&nbsp; JPMC | 0.851<br> %<br>| &nbsp;&nbsp; EUR | 30000 | &nbsp;&nbsp; 327 | &nbsp;&nbsp; 592 | &nbsp;&nbsp; (265)<br>|
| &nbsp;&nbsp;&nbsp; Zegona Finance PLC <br>6.750%, due 07/15/29<br>| 5.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 06/20/30 | &nbsp;&nbsp; DBAG | 1.485<br> %<br>| &nbsp;&nbsp; EUR | 20668 | &nbsp;&nbsp; 3718 | &nbsp;&nbsp; 2713 | &nbsp;&nbsp; 1005 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $17916 | &nbsp;&nbsp; $14407 | &nbsp;&nbsp; $3509 |

---

**OTC Total Return Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Underlying Reference** <br>**Instrument** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 3M SOFR | Quarterly | 12/22/25 | MSIP | iBoxx USD Liquid High Yield Index | USD | 7158000 | $431244 | $58 | $431186 |
| Pay | 3M SOFR | Quarterly | 12/22/25 | MSIP | iBoxx USD Liquid High Yield Index | USD | 4609000 | 308587 | 37 | 308550 |
| Pay | 3M SOFR | Quarterly | 06/20/26 | MSIP | iBoxx USD Liquid High Yield Index | USD | 6034000 | 79989 | 22 | 79967 |
| Pay | 3M SOFR | Quarterly | 06/20/26 | MSIP | iBoxx USD Liquid High Yield Index | USD | 3012000 | 23428 | 6 | 23422 |
| Pay | 3M SOFR | Quarterly | 06/20/26 | MSIP | iBoxx USD Liquid High Yield Index | USD | 1505000 | 7382 | 9 | 7373 |

---

**BHFTI-78**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**OTC Total Return Swap Contracts — (Continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive**<br> **Floating Rate** <br>| **Floating**<br> **Rate Index** <br>| **Payment**<br> **Frequency** <br>| **Maturity**<br> **Date** <br>| **Counterparty**  | **Underlying Reference**<br> **Instrument** <br>| **Notional**<br> **Amount**  | **Notional**<br> **Amount**  | **Market**<br> **Value** <br>| **Upfront**<br> **Premiums**<br> **Paid/(Received)** <br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** <br>|
| Pay | 3M SOFR | Quarterly | 06/20/26 | MSIP | iBoxx USD Liquid High Yield Index | USD | 5940000 | $43247 | $2 | $43245 |
| Pay | 3M SOFR | Quarterly | 06/20/26 | MSIP | iBoxx USD Liquid Leveraged Loans Total Return Index | USD | 8639000 | 45098 | 17 | 45081 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $938975 | $151 | $938824 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Corporate Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advertising | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $15128610 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $15128610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace/Defense | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26314462 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26314462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agriculture | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 305704 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 305704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airlines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2509008 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2509008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apparel | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4758365 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4758365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Auto Manufacturers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6651531 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6651531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Auto Parts & Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11467974 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11467974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31627872 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31627872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Materials | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20826438 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20826438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29637220 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29637220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66172246 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66172246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Computers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9746032 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9746032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1934050 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1934050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution/Wholesale | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1581637 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1581637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Financial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37964327 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37964327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27345280 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27345280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Components & Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 563037 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 563037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronics | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3999085 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3999085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engineering & Construction | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6174067 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6174067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25170862 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25170862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Environmental Control | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10035883 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10035883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16980899 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16980899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Service | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 234887 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 234887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forest Products & Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 562474 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 562474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8335033 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8335033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hand/Machine Tools | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 353918 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 353918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11072550 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11072550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27113296 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27113296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Holding Companies-Diversified | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 441950 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 441950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Builders | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6979381 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6979381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Furnishings | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1144862 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1144862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Housewares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1244595 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1244595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 58659634 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 58659634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Internet | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10537304 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10537304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10330810 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10330810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iron/Steel | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5368115 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5368115 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 422816 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 422816 |

---

**BHFTI-79**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Time | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16261038 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16261038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lodging | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10430493 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10430493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1119909 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1119909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery-Diversified | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7685887 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7685887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43971220 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43971220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metal Fabricate/Hardware | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1498044 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1498044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19437919 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19437919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1214285 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1214285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Office/Business Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 353314 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 353314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Gas | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 38586608 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 38586608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Gas Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12598701 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12598701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging & Containers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29821022 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29821022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17297208 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17297208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pipelines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41062613 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41062613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4324671 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 4324671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28430636 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28430636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25560973 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25560973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Savings & Loans | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 275753 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 275753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 624361 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 624361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52113515 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52113515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telecommunications | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 65007609 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 65007609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2936370 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2936370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trucking & Leasing | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9100963 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9100963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Water | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 117638 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 117638 |
| Total Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 929526964 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 929526964 |
| Total Floating Rate Loans (Less Unfunded Loan Commitments of $414,160)\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 86710765 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 86710765 |
| Total Convertible Bonds\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7986727 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7986727 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp; 692 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5832 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 547718 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 547718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp; 1225770 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1225770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 4193506 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4193506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; 1935860 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1935860 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 7903546 | &nbsp;&nbsp;&nbsp; 5832 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 7909378 |
| Convertible Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp; 778697 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 778697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 320281 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 320281 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 49658 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 49658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 950383 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 950383 |
| Total Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp; 2049361 | &nbsp;&nbsp;&nbsp; 49658 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2099019 |
| Total Escrow Shares\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2006 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2006 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19838300 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19838300 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10001433 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10001433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5998822 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5998822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 108389853 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 108389853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 135390108 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 137390108 |
| Net Investments | &nbsp;&nbsp;&nbsp; $11952907 | &nbsp;&nbsp;&nbsp; $1179510360 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1191463267 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(137387338)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(137387338)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $126946 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $126946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3712)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3712)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $123234 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $123234 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; $(2353)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(2353)<br>|

---

**BHFTI-80**

------

**Brighthouse Funds Trust I**

**BlackRock High Yield Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $24260 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $24260 |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Assets) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $956891 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $956891 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-81**

------

**Brighthouse Funds Trust I**

**Brighthouse/Artisan International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—98.9% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares\*** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Belgium — 1.9%** | **Belgium — 1.9%** | **Belgium — 1.9%** |
| Elia Group SA | 31367 | &nbsp;&nbsp;&nbsp; $3619518 |
| UCB SA | 44266 | &nbsp;&nbsp;&nbsp; 12247039 |
|  |  | &nbsp;&nbsp;&nbsp; 15866557 |
| **Brazil — 1.4%** | **Brazil — 1.4%** | **Brazil — 1.4%** |
| MercadoLibre, Inc. (a) | 4943 | &nbsp;&nbsp;&nbsp; 11551494 |
| **China — 7.7%** | **China — 7.7%** | **China — 7.7%** |
| Alibaba Group Holding Ltd. (ADR) (b) | 55373 | &nbsp;&nbsp;&nbsp; 9896816 |
| Contemporary Amperex Technology Co. Ltd. - Class A | 231600 | &nbsp;&nbsp;&nbsp; 13097516 |
| Tencent Holdings Ltd.  | 219800 | &nbsp;&nbsp;&nbsp; 18726035 |
| Tencent Holdings Ltd. (ADR) | 191121 | &nbsp;&nbsp;&nbsp; 16273953 |
| Tencent Music Entertainment Group - Class A | 81500 | &nbsp;&nbsp;&nbsp; 953253 |
| Tencent Music Entertainment Group (ADR) | 141367 | &nbsp;&nbsp;&nbsp; 3299506 |
| Wuxi Biologics Cayman, Inc. (a) | 430500 | &nbsp;&nbsp;&nbsp; 2270892 |
|  |  | &nbsp;&nbsp;&nbsp; 64517971 |
| **Denmark — 3.5%** | **Denmark — 3.5%** | **Denmark — 3.5%** |
| Danske Bank AS | 428707 | &nbsp;&nbsp;&nbsp; 18319301 |
| NKT AS (a) | 67866 | &nbsp;&nbsp;&nbsp; 6628749 |
| Novonesis (Novozymes) - B Shares | 73582 | &nbsp;&nbsp;&nbsp; 4510259 |
|  |  | &nbsp;&nbsp;&nbsp; 29458309 |
| **France — 13.8%** | **France — 13.8%** | **France — 13.8%** |
| Accor SA | 73521 | &nbsp;&nbsp;&nbsp; 3483053 |
| Air Liquide SA | 100670 | &nbsp;&nbsp;&nbsp; 20950580 |
| Airbus SE | 42310 | &nbsp;&nbsp;&nbsp; 9890611 |
| AXA SA | 325014 | &nbsp;&nbsp;&nbsp; 15561960 |
| BNP Paribas SA | 212008 | &nbsp;&nbsp;&nbsp; 19326271 |
| Cie de Saint-Gobain SA | 74729 | &nbsp;&nbsp;&nbsp; 8141028 |
| Danone SA | 105415 | &nbsp;&nbsp;&nbsp; 9184215 |
| Safran SA | 51459 | &nbsp;&nbsp;&nbsp; 18223730 |
| SPIE SA | 208808 | &nbsp;&nbsp;&nbsp; 11291586 |
|  |  | &nbsp;&nbsp;&nbsp; 116053034 |
| **Germany — 7.2%** | **Germany — 7.2%** | **Germany — 7.2%** |
| Allianz SE | 26088 | &nbsp;&nbsp;&nbsp; 10965896 |
| Deutsche Boerse AG | 36577 | &nbsp;&nbsp;&nbsp; 9802330 |
| MTU Aero Engines AG | 22978 | &nbsp;&nbsp;&nbsp; 10546263 |
| RWE AG | 123885 | &nbsp;&nbsp;&nbsp; 5501883 |
| Symrise AG | 81494 | &nbsp;&nbsp;&nbsp; 7101779 |
| Vonovia SE | 517700 | &nbsp;&nbsp;&nbsp; 16157599 |
|  |  | &nbsp;&nbsp;&nbsp; 60075750 |
| **Greece — 1.3%** | **Greece — 1.3%** | **Greece — 1.3%** |
| Piraeus Financial Holdings SA | 1263622 | &nbsp;&nbsp;&nbsp; 10710830 |
| **Hong Kong — 3.4%** | **Hong Kong — 3.4%** | **Hong Kong — 3.4%** |
| AIA Group Ltd.  | 1823000 | &nbsp;&nbsp;&nbsp; 17473890 |
| Prudential PLC | 808961 | &nbsp;&nbsp;&nbsp; 11387369 |
| Zijin Gold International Co. Ltd. (a) | 2400 | &nbsp;&nbsp;&nbsp; 37194 |
|  |  | &nbsp;&nbsp;&nbsp; 28898453 |
| **Italy — 3.4%** | **Italy — 3.4%** | **Italy — 3.4%** |
| BFF Bank SpA (a) | 825493 | &nbsp;&nbsp;&nbsp; 10606097 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares\*** | <br>**Value**<br>|
| **Italy — (Continued)** | **Italy — (Continued)** | **Italy — (Continued)** |
| Enel SpA | 909207 | &nbsp;&nbsp;&nbsp; $8623317 |
| Ryanair Holdings PLC | 151322 | &nbsp;&nbsp;&nbsp; 4388195 |
| Wizz Air Holdings PLC (a) | 298575 | &nbsp;&nbsp;&nbsp; 4669809 |
|  |  | &nbsp;&nbsp;&nbsp; 28287418 |
| **Japan — 5.0%** | **Japan — 5.0%** | **Japan — 5.0%** |
| Mitsubishi Heavy Industries Ltd.  | 742806 | &nbsp;&nbsp;&nbsp; 19409528 |
| Mitsubishi UFJ Financial Group, Inc.  | 515500 | &nbsp;&nbsp;&nbsp; 8166228 |
| Nippon Sanso Holdings Corp.  | 212033 | &nbsp;&nbsp;&nbsp; 7513397 |
| Tokyo Gas Co. Ltd.  | 191135 | &nbsp;&nbsp;&nbsp; 6801350 |
|  |  | &nbsp;&nbsp;&nbsp; 41890503 |
| **Macau — 0.5%** | **Macau — 0.5%** | **Macau — 0.5%** |
| Galaxy Entertainment Group Ltd.  | 827000 | &nbsp;&nbsp;&nbsp; 4562821 |
| **Netherlands — 0.9%** | **Netherlands — 0.9%** | **Netherlands — 0.9%** |
| ASML Holding NV | 4419 | &nbsp;&nbsp;&nbsp; 4308359 |
| ASML Holding NV (NY Registry Shares) | 2924 | &nbsp;&nbsp;&nbsp; 2830695 |
|  |  | &nbsp;&nbsp;&nbsp; 7139054 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Sberbank of Russia PJSC † (a) (c) (d) | 5306492 | &nbsp;&nbsp;&nbsp; 0 |
| **Singapore — 0.1%** | **Singapore — 0.1%** | **Singapore — 0.1%** |
| Singapore Technologies Engineering Ltd.  | 187029 | &nbsp;&nbsp;&nbsp; 1250146 |
| **South Korea — 13.9%** | **South Korea — 13.9%** | **South Korea — 13.9%** |
| Hanwha Aerospace Co. Ltd.  | 48034 | &nbsp;&nbsp;&nbsp; 37884659 |
| Hyosung Heavy Industries Corp.  | 5141 | &nbsp;&nbsp;&nbsp; 4960454 |
| Hyundai Rotem Co. Ltd.  | 36943 | &nbsp;&nbsp;&nbsp; 5778055 |
| Korea Electric Power Corp.  | 463786 | &nbsp;&nbsp;&nbsp; 11958308 |
| LIG Nex1 Co. Ltd.  | 109062 | &nbsp;&nbsp;&nbsp; 39828508 |
| LS Electric Co. Ltd.  | 72116 | &nbsp;&nbsp;&nbsp; 14752076 |
| MNC Solution Co. Ltd.  | 7455 | &nbsp;&nbsp;&nbsp; 1182342 |
|  |  | &nbsp;&nbsp;&nbsp; 116344402 |
| **Spain — 0.7%** | **Spain — 0.7%** | **Spain — 0.7%** |
| Aena SME SA | 229492 | &nbsp;&nbsp;&nbsp; 6287833 |
| **Switzerland — 7.6%** | **Switzerland — 7.6%** | **Switzerland — 7.6%** |
| Medacta Group SA | 40675 | &nbsp;&nbsp;&nbsp; 7454280 |
| SGS SA | 116774 | &nbsp;&nbsp;&nbsp; 12146301 |
| UBS Group AG | 1064784 | &nbsp;&nbsp;&nbsp; 43771778 |
|  |  | &nbsp;&nbsp;&nbsp; 63372359 |
| **Taiwan — 1.9%** | **Taiwan — 1.9%** | **Taiwan — 1.9%** |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 368000 | &nbsp;&nbsp;&nbsp; 16009602 |
| **United Kingdom — 19.7%** | **United Kingdom — 19.7%** | **United Kingdom — 19.7%** |
| 3i Group PLC | 153611 | &nbsp;&nbsp;&nbsp; 8469577 |
| Babcock International Group PLC | 1051434 | &nbsp;&nbsp;&nbsp; 18813151 |
| BAE Systems PLC | 251175 | &nbsp;&nbsp;&nbsp; 6960019 |
| Flutter Entertainment PLC (a) | 5050 | &nbsp;&nbsp;&nbsp; 1313989 |
| HSBC Holdings PLC | 654806 | &nbsp;&nbsp;&nbsp; 9218883 |
| Lloyds Banking Group PLC | 6279109 | &nbsp;&nbsp;&nbsp; 7073095 |
| London Stock Exchange Group PLC | 70190 | &nbsp;&nbsp;&nbsp; 8060062 |

---

**BHFTI-82**

------

**Brighthouse Funds Trust I**

**Brighthouse/Artisan International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares\***/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **United Kingdom — (Continued)** | **United Kingdom — (Continued)** | **United Kingdom — (Continued)** |
| Melrose Industries PLC | 2715567 | &nbsp;&nbsp;&nbsp; $22374296 |
| National Grid PLC | 2492466 | &nbsp;&nbsp;&nbsp; 35932879 |
| RELX PLC | 250215 | &nbsp;&nbsp;&nbsp; 11950819 |
| SSE PLC | 691891 | &nbsp;&nbsp;&nbsp; 16214390 |
| Tesco PLC | 2054791 | &nbsp;&nbsp;&nbsp; 12316938 |
| Unilever PLC | 101749 | &nbsp;&nbsp;&nbsp; 6014601 |
|  |  | &nbsp;&nbsp;&nbsp; 164712699 |
| **United States — 5.0%** | **United States — 5.0%** | **United States — 5.0%** |
| Amazon.com, Inc. (a) | 104968 | &nbsp;&nbsp;&nbsp; 23047824 |
| Aon PLC - Class A | 6964 | &nbsp;&nbsp;&nbsp; 2483223 |
| CRH PLC | 135638 | &nbsp;&nbsp;&nbsp; 16265145 |
|  |  | &nbsp;&nbsp;&nbsp; 41796192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $656,016,219) <br>|  | &nbsp;&nbsp;&nbsp; 828785427 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—1.0%** | **Short-Term Investments—1.0%** | **Short-Term Investments—1.0%** |
| **Repurchase Agreement — 1.0%** | **Repurchase Agreement — 1.0%** | **Repurchase Agreement — 1.0%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25 with a maturity value of $8,603,216; collateralized <br> by U.S. Treasury Note at 3.750%, maturing 04/30/27, with a <br> market value of $8,774,714<br>| 8602499 | &nbsp;&nbsp;&nbsp; 8602499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $8,602,499) <br>|  | &nbsp;&nbsp;&nbsp; 8602499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.9% <br>(Cost $664,618,718) <br>|  | &nbsp;&nbsp;&nbsp; 837387926 |
| Other assets and liabilities (net)—0.1%  |  | &nbsp;&nbsp;&nbsp; 565219 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $837953145 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* <br>| Principal amount stated in U.S. dollars unless otherwise noted. |
| † <br>| Restricted securities are not registered under the Securities Act of 1933 and are subject to legal <br> restrictions on resale. These securities generally may be resold in transactions exempt from <br> registration or to the public if the securities are subsequently registered. Disposal of these <br> securities may involve time-consuming negotiations and prompt sale at an acceptable price may <br> be difficult. As of September 30, 2025, the market value of restricted securities was $0, which is <br> 0.0% of net assets. See details shown in the Restricted Securities table that follows.<br>|
| (a) <br>| Non-income producing security. |
| (b) <br>| All or a portion of the security was held on loan. As of September 30, 2025, the market value of  |

---

---

| | |
|:---|:---|
|  | securities loaned was $9,896,638 and the collateral received consisted of non-cash collateral with <br> a value of $10,177,386. The non-cash collateral received consists of U.S. government securities <br> that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold <br> or repledged by the Portfolio.<br>|
| (c) <br>| Security was valued in good faith under procedures subject to oversight by the Board of Trustees. <br> As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (d) <br>| Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Ten Largest Industries as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Aerospace & Defense | 19.8 |
| Banks | 8.7 |
| Capital Markets | 8.4 |
| Insurance | 6.9 |
| Broadline Retail | 5.3 |
| Electric Utilities | 4.8 |
| Chemicals | 4.8 |
| Electrical Equipment | 4.7 |
| Multi-Utilities | 4.3 |
| Interactive Media & Services | 4.2 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Shares** | **Cost** | **Value** |
| Sberbank of Russia PJSC | 09/16/21-02/11/22 | &nbsp;&nbsp; 5306492 | &nbsp;&nbsp; $22350736 | &nbsp;&nbsp; $0 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp; $— | &nbsp;&nbsp; $15866557 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $15866557 |

---

**BHFTI-83**

------

**Brighthouse Funds Trust I**

**Brighthouse/Artisan International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp; $11551494 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $11551494 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp; 29470275 | &nbsp;&nbsp;&nbsp; 35047696 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 64517971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29458309 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29458309 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 116053034 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 116053034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60075750 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60075750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greece | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10710830 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10710830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp; 37194 | &nbsp;&nbsp;&nbsp; 28861259 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28898453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28287418 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28287418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41890503 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41890503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macau | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4562821 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4562821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp; 2830695 | &nbsp;&nbsp;&nbsp; 4308359 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7139054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1250146 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1250146 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 116344402 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 116344402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6287833 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6287833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 63372359 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 63372359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16009602 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16009602 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 164712699 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 164712699 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; 41448491 | &nbsp;&nbsp;&nbsp; 347701 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41796192 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 85338149 | &nbsp;&nbsp;&nbsp; 743447278 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 828785427 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8602499 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8602499 |
| Total Investments | &nbsp;&nbsp;&nbsp; $85338149 | &nbsp;&nbsp;&nbsp; $752049777 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $837387926 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-84**

------

**Brighthouse Funds Trust I**

**Brighthouse Asset Allocation 100 Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—100.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Affiliated Mutual Funds — 100.0%** | **Affiliated Mutual Funds — 100.0%** | **Affiliated Mutual Funds — 100.0%** |
| Allspring Mid Cap Value Portfolio (Class A) (a) | 1718897 | &nbsp;&nbsp;&nbsp; $17274913 |
| Baillie Gifford International Stock Portfolio (Class A) (b) | 6813063 | &nbsp;&nbsp;&nbsp; 78077702 |
| BlackRock Capital Appreciation Portfolio (Class A) (b) | 1794239 | &nbsp;&nbsp;&nbsp; 80184555 |
| Brighthouse Small Cap Value Portfolio (Class A) (a) | 3761569 | &nbsp;&nbsp;&nbsp; 42129573 |
| Brighthouse/Artisan International Portfolio (Class A) (a) | 6056295 | &nbsp;&nbsp;&nbsp; 75703690 |
| Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b) | 52025 | &nbsp;&nbsp;&nbsp; 8549799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Dimensional International Small Company Portfolio <br> (Class A) (b)<br>| 7510937 | &nbsp;&nbsp;&nbsp; 89154828 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Wellington Core Equity Opportunities Portfolio <br> (Class A) (b)<br>| 3273692 | &nbsp;&nbsp;&nbsp; 87047465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Wellington Large Cap Research Portfolio (Class A) <br> (a)<br>| 5328695 | &nbsp;&nbsp;&nbsp; 75614189 |
| CBRE Global Real Estate Portfolio (Class A) (a) | 4936085 | &nbsp;&nbsp;&nbsp; 53013556 |
| Frontier Mid Cap Growth Portfolio (Class A) (b) | 593504 | &nbsp;&nbsp;&nbsp; 17573659 |
| Harris Oakmark International Portfolio (Class A) (a) | 6614151 | &nbsp;&nbsp;&nbsp; 97161875 |
| Invesco Comstock Portfolio (Class A) (a) | 8415840 | &nbsp;&nbsp;&nbsp; 106207905 |
| Invesco Global Equity Portfolio (Class A) (a) | 1836298 | &nbsp;&nbsp;&nbsp; 44181327 |
| Invesco Small Cap Growth Portfolio (Class A) (a) (c) | 2300316 | &nbsp;&nbsp;&nbsp; 22980153 |
| Jennison Growth Portfolio (Class A) (b) | 6850646 | &nbsp;&nbsp;&nbsp; 106596058 |
| JPMorgan Small Cap Value Portfolio (Class A) (a) | 2786395 | &nbsp;&nbsp;&nbsp; 31792769 |
| Loomis Sayles Growth Portfolio (Class A) (a) | 5752762 | &nbsp;&nbsp;&nbsp; 110683134 |
| Loomis Sayles Small Cap Growth Portfolio (Class A) (b) | 3569745 | &nbsp;&nbsp;&nbsp; 39695560 |
| MFS Research International Portfolio (Class A) (a) | 4713893 | &nbsp;&nbsp;&nbsp; 61516300 |
| MFS Value Portfolio (Class A) (b) | 8270576 | &nbsp;&nbsp;&nbsp; 110329482 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Affiliated Mutual Funds—(Continued)** | **Affiliated Mutual Funds—(Continued)** | **Affiliated Mutual Funds—(Continued)** |
| Morgan Stanley Discovery Portfolio (Class A) (a) (c) | 843345 | &nbsp;&nbsp;&nbsp; $8526218 |
| Neuberger Berman Genesis Portfolio (Class A) (b) | 984098 | &nbsp;&nbsp;&nbsp; 15115746 |
| SSGA Emerging Markets Enhanced Index Portfolio (Class A) (a) | 7299900 | &nbsp;&nbsp;&nbsp; 97891665 |
| T. Rowe Price Large Cap Growth Portfolio (Class A) (b) | 3893362 | &nbsp;&nbsp;&nbsp; 98073782 |
| T. Rowe Price Large Cap Value Portfolio (Class A) (a) | 3875749 | &nbsp;&nbsp;&nbsp; 101350825 |
| T. Rowe Price Mid Cap Growth Portfolio (Class A) (a) | 1550681 | &nbsp;&nbsp;&nbsp; 12963694 |
| T. Rowe Price Small Cap Growth Portfolio (Class A) (b) | 1447727 | &nbsp;&nbsp;&nbsp; 26609216 |
| VanEck Global Natural Resources Portfolio (Class A) (b) | 2688694 | &nbsp;&nbsp;&nbsp; 35705857 |
| Victory Sycamore Mid Cap Value Portfolio (Class A) (a) | 745287 | &nbsp;&nbsp;&nbsp; 13072337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $1,636,931,018) <br>|  | &nbsp;&nbsp;&nbsp; 1764777832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.0% <br>(Cost $1,636,931,018) <br>|  | &nbsp;&nbsp;&nbsp; 1764777832 |
| Other assets and liabilities (net)—0.0%  |  | &nbsp;&nbsp;&nbsp; (646959)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1764130873 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) A Portfolio of Brighthouse Funds Trust I. (See the table that follows for a summary
 of transactions in affiliated issuers.)

&nbsp;&nbsp;&nbsp;&nbsp;(b) A Portfolio of Brighthouse Funds Trust II. (See the table that follows for a summary
 of transactions in affiliated issuers.)

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income producing security.

**Transactions in Securities of Affiliated Issuers**

The Asset Allocation Portfolio does not invest in the Underlying Portfolios for the purpose of exercising control; however, investments by the Asset Allocation Portfolio within its principal investment strategies may represent a significant portion of the Underlying Portfolios net assets. Transactions in the Underlying Portfolios for the period ended September 30, 2025 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| Allspring Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; $16944427 | &nbsp;&nbsp; $3478537 | &nbsp;&nbsp; $(980056)<br>| &nbsp;&nbsp; $(246147)<br>| &nbsp;&nbsp; $(1921848)<br>| &nbsp;&nbsp; $17274913 |
| Baillie Gifford International Stock Portfolio (Class A) | &nbsp;&nbsp; 74270858 | &nbsp;&nbsp; 3735451 | &nbsp;&nbsp; (9036845)<br>| &nbsp;&nbsp; 1430733 | &nbsp;&nbsp; 7677505 | &nbsp;&nbsp; 78077702 |
| BlackRock Capital Appreciation Portfolio (Class A) | &nbsp;&nbsp; 66087479 | &nbsp;&nbsp; 20358139 | &nbsp;&nbsp; (7170207)<br>| &nbsp;&nbsp; 686647 | &nbsp;&nbsp; 222497 | &nbsp;&nbsp; 80184555 |
| Brighthouse Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 46401256 | &nbsp;&nbsp; 7727191 | &nbsp;&nbsp; (3105874)<br>| &nbsp;&nbsp; (405011)<br>| &nbsp;&nbsp; (8487989)<br>| &nbsp;&nbsp; 42129573 |
| Brighthouse/Artisan International Portfolio (Class A) | &nbsp;&nbsp; 71987145 | &nbsp;&nbsp; 13202322 | &nbsp;&nbsp; (18438415)<br>| &nbsp;&nbsp; 3656384 | &nbsp;&nbsp; 5296254 | &nbsp;&nbsp; 75703690 |
| Brighthouse/Artisan Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 8489999 | &nbsp;&nbsp; 1896358 | &nbsp;&nbsp; (170570)<br>| &nbsp;&nbsp; (31933)<br>| &nbsp;&nbsp; (1634055)<br>| &nbsp;&nbsp; 8549799 |
| Brighthouse/Dimensional International Small Company Portfolio (Class A) | &nbsp;&nbsp; 82903847 | &nbsp;&nbsp; 7746031 | &nbsp;&nbsp; (17276216)<br>| &nbsp;&nbsp; (5452250)<br>| &nbsp;&nbsp; 21233416 | &nbsp;&nbsp; 89154828 |
| Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) | &nbsp;&nbsp; 84244079 | &nbsp;&nbsp; 12999521 | &nbsp;&nbsp; (2263287)<br>| &nbsp;&nbsp; (81310)<br>| &nbsp;&nbsp; (7851538)<br>| &nbsp;&nbsp; 87047465 |
| Brighthouse/Wellington Large Cap Research Portfolio (Class A) | &nbsp;&nbsp; 74016963 | &nbsp;&nbsp; 13437470 | &nbsp;&nbsp; (6470781)<br>| &nbsp;&nbsp; 517643 | &nbsp;&nbsp; (5887106)<br>| &nbsp;&nbsp; 75614189 |
| CBRE Global Real Estate Portfolio (Class A) | &nbsp;&nbsp; 48268431 | &nbsp;&nbsp; 3088299 | &nbsp;&nbsp; (915576)<br>| &nbsp;&nbsp; (63035)<br>| &nbsp;&nbsp; 2635437 | &nbsp;&nbsp; 53013556 |
| Frontier Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 17096123 | &nbsp;&nbsp; 1403952 | &nbsp;&nbsp; (1100337)<br>| &nbsp;&nbsp; (3833)<br>| &nbsp;&nbsp; 177754 | &nbsp;&nbsp; 17573659 |
| Harris Oakmark International Portfolio (Class A) | &nbsp;&nbsp; 88897770 | &nbsp;&nbsp; 5658979 | &nbsp;&nbsp; (15041048)<br>| &nbsp;&nbsp; 637979 | &nbsp;&nbsp; 17008195 | &nbsp;&nbsp; 97161875 |
| Invesco Comstock Portfolio (Class A) | &nbsp;&nbsp; 102864927 | &nbsp;&nbsp; 15601224 | &nbsp;&nbsp; (9586421)<br>| &nbsp;&nbsp; (1200748)<br>| &nbsp;&nbsp; (1471077)<br>| &nbsp;&nbsp; 106207905 |
| Invesco Global Equity Portfolio (Class A) | &nbsp;&nbsp; 43284970 | &nbsp;&nbsp; 6569973 | &nbsp;&nbsp; (3728186)<br>| &nbsp;&nbsp; 850562 | &nbsp;&nbsp; (2795992)<br>| &nbsp;&nbsp; 44181327 |
| Invesco Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 26387232 | &nbsp;&nbsp; 78831 | &nbsp;&nbsp; (4315352)<br>| &nbsp;&nbsp; (1803706)<br>| &nbsp;&nbsp; 2633148 | &nbsp;&nbsp; 22980153 |
| Jennison Growth Portfolio (Class A) | &nbsp;&nbsp; 105497998 | &nbsp;&nbsp; 17807722 | &nbsp;&nbsp; (11814829)<br>| &nbsp;&nbsp; 135031 | &nbsp;&nbsp; (5029864)<br>| &nbsp;&nbsp; 106596058 |
| JPMorgan Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 30255582 | &nbsp;&nbsp; 4188077 | &nbsp;&nbsp; (1338178)<br>| &nbsp;&nbsp; (610156)<br>| &nbsp;&nbsp; (702556)<br>| &nbsp;&nbsp; 31792769 |
| Loomis Sayles Growth Portfolio (Class A) | &nbsp;&nbsp; 110642377 | &nbsp;&nbsp; 14176729 | &nbsp;&nbsp; (15235891)<br>| &nbsp;&nbsp; 4028123 | &nbsp;&nbsp; (2928204)<br>| &nbsp;&nbsp; 110683134 |
| Loomis Sayles Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 42828879 | &nbsp;&nbsp; 4496087 | &nbsp;&nbsp; (4498618)<br>| &nbsp;&nbsp; (1817545)<br>| &nbsp;&nbsp; (1313243)<br>| &nbsp;&nbsp; 39695560 |
| MFS Research International Portfolio (Class A) | &nbsp;&nbsp; 57118617 | &nbsp;&nbsp; 4832228 | &nbsp;&nbsp; (5758373)<br>| &nbsp;&nbsp; 897038 | &nbsp;&nbsp; 4426790 | &nbsp;&nbsp; 61516300 |
| MFS Value Portfolio (Class A) | &nbsp;&nbsp; 105899998 | &nbsp;&nbsp; 15833372 | &nbsp;&nbsp; (8412864)<br>| &nbsp;&nbsp; (1993629)<br>| &nbsp;&nbsp; (997395)<br>| &nbsp;&nbsp; 110329482 |
| Morgan Stanley Discovery Portfolio (Class A) | &nbsp;&nbsp; 8793368 | &nbsp;&nbsp; 37767 | &nbsp;&nbsp; (2435497)<br>| &nbsp;&nbsp; 1233906 | &nbsp;&nbsp; 896674 | &nbsp;&nbsp; 8526218 |

---

**BHFTI-85**

------

**Brighthouse Funds Trust I**

**Brighthouse Asset Allocation 100 Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value**<br> **December 31, 2024**<br>| **Purchases** | **Sales** | **Realized**<br> **Gain/(Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>| **Ending Value**<br> **as of**<br> **September 30, 2025**<br>|
| Neuberger Berman Genesis Portfolio (Class A) | &nbsp;&nbsp; $14926509 | &nbsp;&nbsp; $2558072 | &nbsp;&nbsp; $(20300)<br>| &nbsp;&nbsp; $(5038)<br>| &nbsp;&nbsp; $(2343497)<br>| &nbsp;&nbsp; $15115746 |
| SSGA Emerging Markets Enhanced Index Portfolio (Class A) | &nbsp;&nbsp; 45203251 | &nbsp;&nbsp; 54457882 | &nbsp;&nbsp; (14846791)<br>| &nbsp;&nbsp; 708769 | &nbsp;&nbsp; 12368554 | &nbsp;&nbsp; 97891665 |
| SSGA Emerging Markets Enhanced Index Portfolio II (Class A) | &nbsp;&nbsp; 45147972 | &nbsp;&nbsp; 932980 | &nbsp;&nbsp; (54581828)<br>| &nbsp;&nbsp; (48342)<br>| &nbsp;&nbsp; 8549218 | &nbsp;&nbsp; — |
| T. Rowe Price Large Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 96521795 | &nbsp;&nbsp; 12976107 | &nbsp;&nbsp; (11435420)<br>| &nbsp;&nbsp; 1906349 | &nbsp;&nbsp; (1895049)<br>| &nbsp;&nbsp; 98073782 |
| T. Rowe Price Large Cap Value Portfolio (Class A) | &nbsp;&nbsp; 96950034 | &nbsp;&nbsp; 13711351 | &nbsp;&nbsp; (5621916)<br>| &nbsp;&nbsp; (1349549)<br>| &nbsp;&nbsp; (2339095)<br>| &nbsp;&nbsp; 101350825 |
| T. Rowe Price Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 12888557 | &nbsp;&nbsp; 1801247 | &nbsp;&nbsp; (342235)<br>| &nbsp;&nbsp; (63148)<br>| &nbsp;&nbsp; (1320727)<br>| &nbsp;&nbsp; 12963694 |
| T. Rowe Price Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 25064414 | &nbsp;&nbsp; 5346279 | &nbsp;&nbsp; (764620)<br>| &nbsp;&nbsp; (92249)<br>| &nbsp;&nbsp; (2944608)<br>| &nbsp;&nbsp; 26609216 |
| VanEck Global Natural Resources Portfolio (Class A) | &nbsp;&nbsp; 31575405 | &nbsp;&nbsp; 3213520 | &nbsp;&nbsp; (6048639)<br>| &nbsp;&nbsp; 1388711 | &nbsp;&nbsp; 5576860 | &nbsp;&nbsp; 35705857 |
| Victory Sycamore Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 12691089 | &nbsp;&nbsp; 1950655 | &nbsp;&nbsp; (225519)<br>| &nbsp;&nbsp; (26546)<br>| &nbsp;&nbsp; (1317342)<br>| &nbsp;&nbsp; 13072337 |
|  | &nbsp;&nbsp; $1694151351 | &nbsp;&nbsp; $275302353 | &nbsp;&nbsp; $(242980689)<br>| &nbsp;&nbsp; $2783700 | &nbsp;&nbsp; $35521117 | &nbsp;&nbsp; $1764777832 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Capital Gain** <br>**Distributions from** <br>**Affiliated Investments**<br>| **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| Allspring Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; $2830071 | &nbsp;&nbsp; $279897 | &nbsp;&nbsp; 1718897 |
| Baillie Gifford International Stock Portfolio (Class A) | &nbsp;&nbsp; 3170038 | &nbsp;&nbsp; 536061 | &nbsp;&nbsp; 6813063 |
| BlackRock Capital Appreciation Portfolio (Class A) | &nbsp;&nbsp; 10052025 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1794239 |
| Brighthouse Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 6315751 | &nbsp;&nbsp; 667789 | &nbsp;&nbsp; 3761569 |
| Brighthouse/Artisan International Portfolio (Class A) | &nbsp;&nbsp; 12217552 | &nbsp;&nbsp; 977834 | &nbsp;&nbsp; 6056295 |
| Brighthouse/Artisan Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 1572922 | &nbsp;&nbsp; 111756 | &nbsp;&nbsp; 52025 |
| Brighthouse/Dimensional International Small Company Portfolio (Class A) | &nbsp;&nbsp; 5131745 | &nbsp;&nbsp; 2614285 | &nbsp;&nbsp; 7510937 |
| Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) | &nbsp;&nbsp; 10647092 | &nbsp;&nbsp; 1224458 | &nbsp;&nbsp; 3273692 |
| Brighthouse/Wellington Large Cap Research Portfolio (Class A) | &nbsp;&nbsp; 13049518 | &nbsp;&nbsp; 377653 | &nbsp;&nbsp; 5328695 |
| CBRE Global Real Estate Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 1500260 | &nbsp;&nbsp; 4936085 |
| Frontier Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 848270 | &nbsp;&nbsp; — | &nbsp;&nbsp; 593504 |
| Harris Oakmark International Portfolio (Class A) | &nbsp;&nbsp; 3239655 | &nbsp;&nbsp; 2221477 | &nbsp;&nbsp; 6614151 |
| Invesco Comstock Portfolio (Class A) | &nbsp;&nbsp; 12657405 | &nbsp;&nbsp; 2193749 | &nbsp;&nbsp; 8415840 |
| Invesco Global Equity Portfolio (Class A) | &nbsp;&nbsp; 6497225 | &nbsp;&nbsp; 62612 | &nbsp;&nbsp; 1836298 |
| Invesco Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2300316 |
| Jennison Growth Portfolio (Class A) | &nbsp;&nbsp; 17665923 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6850646 |
| JPMorgan Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 3193584 | &nbsp;&nbsp; 354559 | &nbsp;&nbsp; 2786395 |
| Loomis Sayles Growth Portfolio (Class A) | &nbsp;&nbsp; 14080313 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5752762 |
| Loomis Sayles Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 4403400 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3569745 |
| MFS Research International Portfolio (Class A) | &nbsp;&nbsp; 3453546 | &nbsp;&nbsp; 1188413 | &nbsp;&nbsp; 4713893 |
| MFS Value Portfolio (Class A) | &nbsp;&nbsp; 12210732 | &nbsp;&nbsp; 1957276 | &nbsp;&nbsp; 8270576 |
| Morgan Stanley Discovery Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 843345 |
| Neuberger Berman Genesis Portfolio (Class A) | &nbsp;&nbsp; 1898144 | &nbsp;&nbsp; 15219 | &nbsp;&nbsp; 984098 |
| SSGA Emerging Markets Enhanced Index Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 888736 | &nbsp;&nbsp; 7299900 |
| SSGA Emerging Markets Enhanced Index Portfolio II (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 891484 | &nbsp;&nbsp; — |
| T. Rowe Price Large Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 12864449 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3893362 |
| T. Rowe Price Large Cap Value Portfolio (Class A) | &nbsp;&nbsp; 9248093 | &nbsp;&nbsp; 1999111 | &nbsp;&nbsp; 3875749 |
| T. Rowe Price Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 1751221 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1550681 |
| T. Rowe Price Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 5161475 | &nbsp;&nbsp; 63923 | &nbsp;&nbsp; 1447727 |
| VanEck Global Natural Resources Portfolio (Class A) | &nbsp;&nbsp; 605472 | &nbsp;&nbsp; 1140746 | &nbsp;&nbsp; 2688694 |
| Victory Sycamore Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 1544942 | &nbsp;&nbsp; 181337 | &nbsp;&nbsp; 745287 |
|  | &nbsp;&nbsp; $176310563 | &nbsp;&nbsp; $21448635 |  |

---

**BHFTI-86**

------

**Brighthouse Funds Trust I**

**Brighthouse Asset Allocation 100 Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; $1764777832 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1764777832 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1764777832 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1764777832 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-87**

------

**Brighthouse Funds Trust I**

**Brighthouse Balanced Plus Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—69.4% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Affiliated Mutual Funds — 69.4%** | **Affiliated Mutual Funds — 69.4%** | **Affiliated Mutual Funds — 69.4%** |
| AB International Bond Portfolio (Class A) (a) | 6750988 | &nbsp;&nbsp;&nbsp; $52792724 |
| Allspring Mid Cap Value Portfolio (Class A) (a) | 7153775 | &nbsp;&nbsp;&nbsp; 71895441 |
| Baillie Gifford International Stock Portfolio (Class A) (b) | 11974706 | &nbsp;&nbsp;&nbsp; 137230134 |
| BlackRock Bond Income Portfolio (Class A) (b) | 4087280 | &nbsp;&nbsp;&nbsp; 370920650 |
| BlackRock Capital Appreciation Portfolio (Class A) (b) | 248348 | &nbsp;&nbsp;&nbsp; 11098653 |
| BlackRock High Yield Portfolio (Class A) (a) | 6530325 | &nbsp;&nbsp;&nbsp; 48977436 |
| Brighthouse Small Cap Value Portfolio (Class A) (a) | 5118794 | &nbsp;&nbsp;&nbsp; 57330488 |
| Brighthouse/Artisan International Portfolio (Class A) (a) | 8095132 | &nbsp;&nbsp;&nbsp; 101189148 |
| Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b) | 433653 | &nbsp;&nbsp;&nbsp; 71266495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Dimensional International Small Company <br> Portfolio (Class A) (b)<br>| 5897263 | &nbsp;&nbsp;&nbsp; 70000515 |
| Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (a) | 7933995 | &nbsp;&nbsp;&nbsp; 72834076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Franklin Low Duration Total Return Portfolio <br> (Class A) (a)<br>| 11959356 | &nbsp;&nbsp;&nbsp; 104644362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Templeton International Bond Portfolio (Class A) <br> (a) (c)<br>| 6906165 | &nbsp;&nbsp;&nbsp; 55870875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Wellington Core Equity Opportunities Portfolio <br> (Class A) (b)<br>| 711212 | &nbsp;&nbsp;&nbsp; 18911130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse/Wellington Large Cap Research Portfolio (Class A) <br> (a)<br>| 1569153 | &nbsp;&nbsp;&nbsp; 22266287 |
| CBRE Global Real Estate Portfolio (Class A) (a) | 4154390 | &nbsp;&nbsp;&nbsp; 44618152 |
| Frontier Mid Cap Growth Portfolio (Class A) (b) | 2165020 | &nbsp;&nbsp;&nbsp; 64106247 |
| Harris Oakmark International Portfolio (Class A) (a) | 13025921 | &nbsp;&nbsp;&nbsp; 191350780 |
| Invesco Comstock Portfolio (Class A) (a) | 428610 | &nbsp;&nbsp;&nbsp; 5409052 |
| Invesco Global Equity Portfolio (Class A) (a) | 2096061 | &nbsp;&nbsp;&nbsp; 50431224 |
| Invesco Small Cap Growth Portfolio (Class A) (a) (c) | 4338768 | &nbsp;&nbsp;&nbsp; 43344293 |
| Jennison Growth Portfolio (Class A) (b) | 1026471 | &nbsp;&nbsp;&nbsp; 15971885 |
| JPMorgan Core Bond Portfolio (Class A) (a) | 23640897 | &nbsp;&nbsp;&nbsp; 215368575 |
| JPMorgan Small Cap Value Portfolio (Class A) (a) | 3798000 | &nbsp;&nbsp;&nbsp; 43335176 |
| Loomis Sayles Growth Portfolio (Class A) (a) | 647148 | &nbsp;&nbsp;&nbsp; 12451133 |
| MFS Research International Portfolio (Class A) (a) | 9772232 | &nbsp;&nbsp;&nbsp; 127527622 |
| MFS Value Portfolio (Class A) (b) | 1174185 | &nbsp;&nbsp;&nbsp; 15663633 |
| Morgan Stanley Discovery Portfolio (Class A) (a) (c) | 2365848 | &nbsp;&nbsp;&nbsp; 23918722 |
| Neuberger Berman Genesis Portfolio (Class A) (b) | 2171766 | &nbsp;&nbsp;&nbsp; 33358323 |
| PIMCO Inflation Protected Bond Portfolio (Class A) (a) | 9495169 | &nbsp;&nbsp;&nbsp; 97610337 |
| PIMCO Total Return Portfolio (Class A) (a) | 27102853 | &nbsp;&nbsp;&nbsp; 271028529 |
| SSGA Emerging Markets Enhanced Index Portfolio (Class A) (a) <br>| 7129288 | &nbsp;&nbsp;&nbsp; 95603751 |
| T. Rowe Price Large Cap Value Portfolio (Class A) (a) | 468056 | &nbsp;&nbsp;&nbsp; 12239655 |
| T. Rowe Price Mid Cap Growth Portfolio (Class A) (a) | 4349146 | &nbsp;&nbsp;&nbsp; 36358862 |
| T. Rowe Price Small Cap Growth Portfolio (Class A) (b) | 3311830 | &nbsp;&nbsp;&nbsp; 60871443 |
| TCW Core Fixed Income Portfolio (Class A) (a) | 34122035 | &nbsp;&nbsp;&nbsp; 297885362 |
| VanEck Global Natural Resources Portfolio (Class A) (b) | 5316382 | &nbsp;&nbsp;&nbsp; 70601557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Management Strategic Bond Opportunities <br> Portfolio (Class A) (b)<br>| 14495123 | &nbsp;&nbsp;&nbsp; 153068504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Management U.S. Government Portfolio <br> (Class A) (b)<br>| 16126563 | &nbsp;&nbsp;&nbsp; 171102836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $3,475,446,190) <br>|  | &nbsp;&nbsp;&nbsp; 3420454067 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **U.S. Treasury & Government Agencies—31.1%** | **U.S. Treasury & Government Agencies—31.1%** | **U.S. Treasury & Government Agencies—31.1%** |
| **Federal Agencies — 0.2%** | **Federal Agencies — 0.2%** | **Federal Agencies — 0.2%** |
| Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/15/65 | 10000000 | &nbsp;&nbsp;&nbsp; 8279390 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **U.S. Treasury — 30.9%** | **U.S. Treasury — 30.9%** | **U.S. Treasury — 30.9%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 08/15/50 | 287600000 | &nbsp;&nbsp;&nbsp; $144608875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 144200000 | &nbsp;&nbsp;&nbsp; 77372312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/15/51 | 173000000 | &nbsp;&nbsp;&nbsp; 98819493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/43 | 57700000 | &nbsp;&nbsp;&nbsp; 45204344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 11/15/46 | 44100000 | &nbsp;&nbsp;&nbsp; 33019875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/52 | 43500000 | &nbsp;&nbsp;&nbsp; 31041328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 05/15/44 | 99895000 | &nbsp;&nbsp;&nbsp; 83365499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 4600000 | &nbsp;&nbsp;&nbsp; 4429117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/55 (d) (e) | 114800000 | &nbsp;&nbsp;&nbsp; 115158750 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 09/30/27 (e) | 159500000 | &nbsp;&nbsp;&nbsp; 149624707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 05/31/26 (f) | 167400000 | &nbsp;&nbsp;&nbsp; 164042192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 09/30/26 | 118900000 | &nbsp;&nbsp;&nbsp; 116493204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/31/28 (f) | 75000000 | &nbsp;&nbsp;&nbsp; 74800781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/30/30 | 17200000 | &nbsp;&nbsp;&nbsp; 17034719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/31/30 | 138000000 | &nbsp;&nbsp;&nbsp; 138097031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/31/27 (g) | 2400000 | &nbsp;&nbsp;&nbsp; 2408344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/34 (d) | 54100000 | &nbsp;&nbsp;&nbsp; 53271594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/31/30 | 6400000 | &nbsp;&nbsp;&nbsp; 6475000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 (f) (g) | 34900000 | &nbsp;&nbsp;&nbsp; 35254453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/31/31 | 58700000 | &nbsp;&nbsp;&nbsp; 59649289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 05/31/32 | 21300000 | &nbsp;&nbsp;&nbsp; 21569578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/15/35 (d) (e) | 54000000 | &nbsp;&nbsp;&nbsp; 54497812 |
|  |  | &nbsp;&nbsp;&nbsp; 1526238297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $1,853,947,304) <br>|  | &nbsp;&nbsp;&nbsp; 1534517687 |
| **Agency Sponsored Mortgage-Backed Securities—3.6%** | **Agency Sponsored Mortgage-Backed Securities—3.6%** | **Agency Sponsored Mortgage-Backed Securities—3.6%** |
| **Agency Mortgage-Backed Securities — 3.6%** | **Agency Mortgage-Backed Securities — 3.6%** | **Agency Mortgage-Backed Securities — 3.6%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/48 | 4050 | &nbsp;&nbsp;&nbsp; 3881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/50 | 67026 | &nbsp;&nbsp;&nbsp; 64337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/50 | 25130 | &nbsp;&nbsp;&nbsp; 23867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/53 | 25896548 | &nbsp;&nbsp;&nbsp; 25739433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.176%, 11/25/28 | 1203570 | &nbsp;&nbsp;&nbsp; 1194071 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.920%, 03/01/35 | 2950000 | &nbsp;&nbsp;&nbsp; 2529022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/01/51 | 25948072 | &nbsp;&nbsp;&nbsp; 22867007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.180%, 07/01/35 | 2329990 | &nbsp;&nbsp;&nbsp; 2100154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/47 | 18214 | &nbsp;&nbsp;&nbsp; 17512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/48 | 78452 | &nbsp;&nbsp;&nbsp; 75376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/48 | 4438 | &nbsp;&nbsp;&nbsp; 4265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/49 | 795986 | &nbsp;&nbsp;&nbsp; 762287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/49 | 111012 | &nbsp;&nbsp;&nbsp; 106145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/50 | 16752630 | &nbsp;&nbsp;&nbsp; 15904335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/50 | 3405701 | &nbsp;&nbsp;&nbsp; 3270117 |
| Government National Mortgage Association, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, TBA (h) | 110000000 | &nbsp;&nbsp;&nbsp; 103397990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $179,519,177) <br>|  | &nbsp;&nbsp;&nbsp; 178059799 |

---

**BHFTI-88**

------

**Brighthouse Funds Trust I**

**Brighthouse Balanced Plus Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—2.7%**

**Non-Agency Mortgage-Backed Securities—0.8%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks — 2.3%** | **Banks — 2.3%** | **Banks — 2.3%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.468%, SOFR + 1.650%, 01/23/35 (i) | 15000000 | &nbsp;&nbsp;&nbsp; $15663466 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.449%, SOFR + 1.447%, 06/11/35 (i) | 10000000 | &nbsp;&nbsp;&nbsp; 10369780 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.016%, SOFR + 1.420%, 10/23/35 (i) | 5000000 | &nbsp;&nbsp;&nbsp; 5033244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.561%, SOFR + 1.950%, 10/24/34 (d) (i) | 17700000 | &nbsp;&nbsp;&nbsp; 19844824 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/14/44 | 3000000 | &nbsp;&nbsp;&nbsp; 2927299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.254%, SOFR + 2.390%, 03/09/34 (i) | 9000000 | &nbsp;&nbsp;&nbsp; 9802014 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.946%, SOFR + 1.340%, 10/22/35 (i) | 5000000 | &nbsp;&nbsp;&nbsp; 5042471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, SOFR + 1.845%, 06/01/34 (i) | 10600000 | &nbsp;&nbsp;&nbsp; 11044747 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.852%, 1Y H15 + 1.100%, 01/19/33 (i) | 5100000 | &nbsp;&nbsp;&nbsp; 4611683 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, SOFR + 1.555%, 07/19/35 (i) | 15000000 | &nbsp;&nbsp;&nbsp; 15477729 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.179%, 1Y H15 + 1.100%, 02/11/43 (144A) (i) | 3000000 | &nbsp;&nbsp;&nbsp; 2289505 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, SOFR + 2.020%, 04/24/34 (i) | 8800000 | &nbsp;&nbsp;&nbsp; 9143734 |
|  |  | &nbsp;&nbsp;&nbsp; 111250496 |
| **Commercial Services — 0.3%** | **Commercial Services — 0.3%** | **Commercial Services — 0.3%** |
| Beignet Investor LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.581%, 05/30/49 (144A) | 14000000 | &nbsp;&nbsp;&nbsp; 14000000 |
| **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** |
| Blackstone Holdings Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 01/30/52 (144A) | 1300000 | &nbsp;&nbsp;&nbsp; 884107 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 08/01/52 | 800000 | &nbsp;&nbsp;&nbsp; 502916 |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 03/01/55 | 2300000 | &nbsp;&nbsp;&nbsp; 2313085 |
|  |  | &nbsp;&nbsp;&nbsp; 2816001 |
| **Food — 0.0%** | **Food — 0.0%** | **Food — 0.0%** |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 05/01/55 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 506473 |
| **Telecommunications — 0.0%** | **Telecommunications — 0.0%** | **Telecommunications — 0.0%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/15/53 | 2045000 | &nbsp;&nbsp;&nbsp; 1414533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/01/57 | 1556000 | &nbsp;&nbsp;&nbsp; 1109502 |
|  |  | &nbsp;&nbsp;&nbsp; 2524035 |
| **Transportation — 0.0%** | **Transportation — 0.0%** | **Transportation — 0.0%** |
| Vessel Management Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.432%, 08/15/36 | 1793000 | &nbsp;&nbsp;&nbsp; 1601544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $132,689,632) <br>|  | &nbsp;&nbsp;&nbsp; 133582656 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations — 0.3%** | **Collateralized Mortgage Obligations — 0.3%** | **Collateralized Mortgage Obligations — 0.3%** |
| Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/27/51 (144A) (i) | 17443650 | &nbsp;&nbsp;&nbsp; $15126925 |
| **Commercial Mortgage-Backed Securities — 0.5%** | **Commercial Mortgage-Backed Securities — 0.5%** | **Commercial Mortgage-Backed Securities — 0.5%** |
| Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.493%, 06/15/55 (i) | 15000000 | &nbsp;&nbsp;&nbsp; 14718351 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.299%, 02/15/54 | 11400000 | &nbsp;&nbsp;&nbsp; 10204092 |
|  |  | &nbsp;&nbsp;&nbsp; 24922443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $42,007,272) <br>|  | &nbsp;&nbsp;&nbsp; 40049368 |
| **Municipals—0.1%** | **Municipals—0.1%** | **Municipals—0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Los Angeles Community College District, General Obligation <br> Unlimited<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/49 | 400000 | &nbsp;&nbsp;&nbsp; 449798 |
| Port Authority of New York & New Jersey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.458%, 10/01/62 | 1845000 | &nbsp;&nbsp;&nbsp; 1574641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Municipals <br>(Cost $2,474,821) <br>|  | &nbsp;&nbsp;&nbsp; 2024439 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.3%** | **Short-Term Investments—0.3%** | **Short-Term Investments—0.3%** |
| **Repurchase Agreements—0.3%** | **Repurchase Agreements—0.3%** | **Repurchase Agreements—0.3%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $847,992; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $864,975<br>| 847921 | &nbsp;&nbsp;&nbsp; 847921 |
| Goldman Sachs & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.250%, due on <br> 10/01/25, with a maturity value of $14,101,665; <br> collateralized by U.S. Government Agency Obligation at <br> 5.500%, maturing 06/20/54, with a market value of <br> $14,530,482<br>| 14100000 | &nbsp;&nbsp;&nbsp; 14100000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $14,947,921) <br>|  | &nbsp;&nbsp;&nbsp; 14947921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—108.0% <br>(Cost $5,701,032,317) <br>|  | &nbsp;&nbsp;&nbsp; 5323635937 |
| Other assets and liabilities (net)—(8.0)%  |  | &nbsp;&nbsp;&nbsp; (393795446)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $4929840491 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) A Portfolio of Brighthouse Funds Trust I. (See the table that follows for a summary of transactions in affiliated issuers.) 

(b) A Portfolio of Brighthouse Funds Trust II. (See the table that follows for a summary of transactions in affiliated issuers.) 

(c) Non-income producing security.

(d) All or a portion of the security was pledged as collateral against open reverse repurchase agreements. As of September 30, 2025, the market value of securities pledged was $106,652,004. 

(e) All or a portion of this security has been transferred in a secured borrowing transaction.

(f) All or a portion of the security was pledged as collateral against open futures contracts. As of 

**BHFTI-89**

------

**Brighthouse Funds Trust I**

**Brighthouse Balanced Plus Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | September 30, 2025, the market value of securities pledged was $127,230,922. |
| (g) | All or a portion of the security was pledged as collateral against open secured borrowing <br> transactions. As of September 30, 2025, the market value of securities pledged <br> was $898,913.<br>|
| (h) | TBA (To Be Announced) Securities are purchased on a forward commitment basis with an <br> approximate principal amount and no defined maturity date. The actual principal and <br> maturity date will be determined upon settlement date.<br>|
| (i) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br>|

---

---

| | |
|:---|:---|
|  | indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $32,807,010, which is 0.7% of net assets.<br>|

---

**Reverse Repurchase Agreements** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Interest** <br>**Rate**<br>| **Settlement** <br>**Date**<br>| **Maturity** <br>**Date**<br>| **Principal Amount** | **Net Closing** <br>**Amount**<br>|
| Barclays Bank PLC | 4.000<br> %<br>| &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 09/19/27 | &nbsp;&nbsp; (7664125)<br>| &nbsp;&nbsp; $(7664125)<br>|
| Deutsche Bank Securities, Inc. | 4.180<br> %<br>| &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; (85585500)<br>| &nbsp;&nbsp; (85585500)<br>|
| Deutsche Bank Securities, Inc. | 4.250<br> %<br>| &nbsp;&nbsp; 09/24/25 | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; (88529375)<br>| &nbsp;&nbsp; (88529375)<br>|
| Deutsche Bank Securities, Inc. | 4.300<br> %<br>| &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; (3790769)<br>| &nbsp;&nbsp; (3790769)<br>|
| Deutsche Bank Securities, Inc. | 4.340<br> %<br>| &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; (7941500)<br>| &nbsp;&nbsp; (7941500)<br>|
| Total |  |  |  |  | &nbsp;&nbsp; $(193511269)<br>|

---

Securities pledged as collateral against open reverse repurchase agreements are noted in the Schedule of Investments. Securities in the amount of $83,861,250, settling on October 1, 2025, have been pledged as collateral for reverse repurchase agreements and this collateral is not included in the Schedule of Investments. Additionally, securities in the amount of $431,026 have been received at the custodian bank as collateral for reverse repurchase agreements.

**Transactions in Securities of Affiliated Issuers**

The Portfolio does not invest in the Underlying Portfolios for the purpose of exercising control; however, investments by the Portfolio within its principal investment strategies may represent a significant portion of the Underlying Portfolios' net assets. Transactions in the Underlying Portfolios for the period ended September 30, 2025 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| AB International Bond Portfolio (Class A) | &nbsp;&nbsp; $63601851 | &nbsp;&nbsp; $5016720 | &nbsp;&nbsp; $(14113378)<br>| &nbsp;&nbsp; $(3130061)<br>| &nbsp;&nbsp; $1417592 | &nbsp;&nbsp; $52792724 |
| Allspring Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 74588505 | &nbsp;&nbsp; 13519283 | &nbsp;&nbsp; (6991412)<br>| &nbsp;&nbsp; 362872 | &nbsp;&nbsp; (9583807)<br>| &nbsp;&nbsp; 71895441 |
| Baillie Gifford International Stock Portfolio (Class A) | &nbsp;&nbsp; 138722927 | &nbsp;&nbsp; 6503176 | &nbsp;&nbsp; (24891456)<br>| &nbsp;&nbsp; (1260791)<br>| &nbsp;&nbsp; 18156278 | &nbsp;&nbsp; 137230134 |
| BlackRock Bond Income Portfolio (Class A) | &nbsp;&nbsp; 370757916 | &nbsp;&nbsp; 23284500 | &nbsp;&nbsp; (27711968)<br>| &nbsp;&nbsp; (5118631)<br>| &nbsp;&nbsp; 9708833 | &nbsp;&nbsp; 370920650 |
| BlackRock Capital Appreciation Portfolio (Class A) | &nbsp;&nbsp; 10981271 | &nbsp;&nbsp; 1590976 | &nbsp;&nbsp; (1492207)<br>| &nbsp;&nbsp; 557219 | &nbsp;&nbsp; (538606)<br>| &nbsp;&nbsp; 11098653 |
| BlackRock High Yield Portfolio (Class A) | &nbsp;&nbsp; 50984808 | &nbsp;&nbsp; 3843577 | &nbsp;&nbsp; (5976196)<br>| &nbsp;&nbsp; 209571 | &nbsp;&nbsp; (84324)<br>| &nbsp;&nbsp; 48977436 |
| Brighthouse Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 60031517 | &nbsp;&nbsp; 12076499 | &nbsp;&nbsp; (3082547)<br>| &nbsp;&nbsp; 225562 | &nbsp;&nbsp; (11920543)<br>| &nbsp;&nbsp; 57330488 |
| Brighthouse/Artisan International Portfolio (Class A) | &nbsp;&nbsp; 102040047 | &nbsp;&nbsp; 17628574 | &nbsp;&nbsp; (31095523)<br>| &nbsp;&nbsp; 6800461 | &nbsp;&nbsp; 5815589 | &nbsp;&nbsp; 101189148 |
| Brighthouse/Artisan Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 74860899 | &nbsp;&nbsp; 15052233 | &nbsp;&nbsp; (4515855)<br>| &nbsp;&nbsp; 526158 | &nbsp;&nbsp; (14656940)<br>| &nbsp;&nbsp; 71266495 |
| Brighthouse/Dimensional International Small Company Portfolio (Class A) | &nbsp;&nbsp; 69893121 | &nbsp;&nbsp; 6065030 | &nbsp;&nbsp; (18839000)<br>| &nbsp;&nbsp; 2703275 | &nbsp;&nbsp; 10178089 | &nbsp;&nbsp; 70000515 |
| Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) | &nbsp;&nbsp; 76355745 | &nbsp;&nbsp; 7697800 | &nbsp;&nbsp; (6941458)<br>| &nbsp;&nbsp; (157330)<br>| &nbsp;&nbsp; (4120681)<br>| &nbsp;&nbsp; 72834076 |
| Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) | &nbsp;&nbsp; 127374251 | &nbsp;&nbsp; 5433244 | &nbsp;&nbsp; (27631211)<br>| &nbsp;&nbsp; (2902157)<br>| &nbsp;&nbsp; 2370235 | &nbsp;&nbsp; 104644362 |
| Brighthouse/Templeton International Bond Portfolio (Class A) | &nbsp;&nbsp; 61883465 | &nbsp;&nbsp; — | &nbsp;&nbsp; (14983927)<br>| &nbsp;&nbsp; (4700105)<br>| &nbsp;&nbsp; 13671442 | &nbsp;&nbsp; 55870875 |
| Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) | &nbsp;&nbsp; 19589107 | &nbsp;&nbsp; 2611632 | &nbsp;&nbsp; (1563858)<br>| &nbsp;&nbsp; 11956 | &nbsp;&nbsp; (1737707)<br>| &nbsp;&nbsp; 18911130 |
| Brighthouse/Wellington Large Cap Research Portfolio (Class A) | &nbsp;&nbsp; 22341724 | &nbsp;&nbsp; 4037715 | &nbsp;&nbsp; (2492091)<br>| &nbsp;&nbsp; (482759)<br>| &nbsp;&nbsp; (1138302)<br>| &nbsp;&nbsp; 22266287 |
| CBRE Global Real Estate Portfolio (Class A) | &nbsp;&nbsp; 43911642 | &nbsp;&nbsp; 1439802 | &nbsp;&nbsp; (2990731)<br>| &nbsp;&nbsp; (182500)<br>| &nbsp;&nbsp; 2439939 | &nbsp;&nbsp; 44618152 |
| Frontier Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 64057941 | &nbsp;&nbsp; 7544341 | &nbsp;&nbsp; (8256001)<br>| &nbsp;&nbsp; (3095777)<br>| &nbsp;&nbsp; 3855743 | &nbsp;&nbsp; 64106247 |
| Harris Oakmark International Portfolio (Class A) | &nbsp;&nbsp; 188402168 | &nbsp;&nbsp; 10739125 | &nbsp;&nbsp; (44149588)<br>| &nbsp;&nbsp; 14741869 | &nbsp;&nbsp; 21617206 | &nbsp;&nbsp; 191350780 |
| Invesco Comstock Portfolio (Class A) | &nbsp;&nbsp; 5498606 | &nbsp;&nbsp; 767612 | &nbsp;&nbsp; (723180)<br>| &nbsp;&nbsp; 139752 | &nbsp;&nbsp; (273738)<br>| &nbsp;&nbsp; 5409052 |
| Invesco Global Equity Portfolio (Class A) | &nbsp;&nbsp; 50435835 | &nbsp;&nbsp; 7621572 | &nbsp;&nbsp; (5448252)<br>| &nbsp;&nbsp; 989568 | &nbsp;&nbsp; (3167499)<br>| &nbsp;&nbsp; 50431224 |
| Invesco Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 43109896 | &nbsp;&nbsp; 3135065 | &nbsp;&nbsp; (5164527)<br>| &nbsp;&nbsp; (2270271)<br>| &nbsp;&nbsp; 4534130 | &nbsp;&nbsp; 43344293 |
| Jennison Growth Portfolio (Class A) | &nbsp;&nbsp; 15796586 | &nbsp;&nbsp; 2951433 | &nbsp;&nbsp; (2035617)<br>| &nbsp;&nbsp; 618295 | &nbsp;&nbsp; (1358812)<br>| &nbsp;&nbsp; 15971885 |
| JPMorgan Core Bond Portfolio (Class A) | &nbsp;&nbsp; 217292997 | &nbsp;&nbsp; 10954588 | &nbsp;&nbsp; (16805145)<br>| &nbsp;&nbsp; (2402143)<br>| &nbsp;&nbsp; 6328278 | &nbsp;&nbsp; 215368575 |
| JPMorgan Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 42835818 | &nbsp;&nbsp; 6753340 | &nbsp;&nbsp; (4301255)<br>| &nbsp;&nbsp; (136139)<br>| &nbsp;&nbsp; (1816588)<br>| &nbsp;&nbsp; 43335176 |

---

**BHFTI-90**

------

**Brighthouse Funds Trust I**

**Brighthouse Balanced Plus Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value**<br> **December 31, 2024**<br>| **Purchases** | **Sales** | **Realized**<br> **Gain/(Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>| **Ending Value**<br> **as of**<br> **September 30, 2025**<br>|
| Loomis Sayles Growth Portfolio (Class A) | &nbsp;&nbsp; $12315507 | &nbsp;&nbsp; $1842629 | &nbsp;&nbsp; $(1838259)<br>| &nbsp;&nbsp; $684160 | &nbsp;&nbsp; $(552904)<br>| &nbsp;&nbsp; $12451133 |
| MFS Research International Portfolio (Class A) | &nbsp;&nbsp; 127420935 | &nbsp;&nbsp; 9646682 | &nbsp;&nbsp; (21485827)<br>| &nbsp;&nbsp; 4618529 | &nbsp;&nbsp; 7327303 | &nbsp;&nbsp; 127527622 |
| MFS Value Portfolio (Class A) | &nbsp;&nbsp; 15917260 | &nbsp;&nbsp; 2041006 | &nbsp;&nbsp; (1888942)<br>| &nbsp;&nbsp; 87885 | &nbsp;&nbsp; (493576)<br>| &nbsp;&nbsp; 15663633 |
| Morgan Stanley Discovery Portfolio (Class A) | &nbsp;&nbsp; 23541348 | &nbsp;&nbsp; 1103937 | &nbsp;&nbsp; (6712274)<br>| &nbsp;&nbsp; 3437815 | &nbsp;&nbsp; 2547896 | &nbsp;&nbsp; 23918722 |
| Neuberger Berman Genesis Portfolio (Class A) | &nbsp;&nbsp; 33782403 | &nbsp;&nbsp; 5787803 | &nbsp;&nbsp; (899537)<br>| &nbsp;&nbsp; (131582)<br>| &nbsp;&nbsp; (5180764)<br>| &nbsp;&nbsp; 33358323 |
| PIMCO Inflation Protected Bond Portfolio (Class A) | &nbsp;&nbsp; 101813215 | &nbsp;&nbsp; 2968616 | &nbsp;&nbsp; (12577871)<br>| &nbsp;&nbsp; (83158)<br>| &nbsp;&nbsp; 5489535 | &nbsp;&nbsp; 97610337 |
| PIMCO Total Return Portfolio (Class A) | &nbsp;&nbsp; 279941180 | &nbsp;&nbsp; 17903532 | &nbsp;&nbsp; (30861237)<br>| &nbsp;&nbsp; (4694715)<br>| &nbsp;&nbsp; 8739769 | &nbsp;&nbsp; 271028529 |
| SSGA Emerging Markets Enhanced Index Portfolio (Class A) | &nbsp;&nbsp; 43705597 | &nbsp;&nbsp; 61773423 | &nbsp;&nbsp; (17803794)<br>| &nbsp;&nbsp; 4089228 | &nbsp;&nbsp; 3839297 | &nbsp;&nbsp; 95603751 |
| SSGA Emerging Markets Enhanced Index Portfolio II (Class A) | &nbsp;&nbsp; 48421084 | &nbsp;&nbsp; 941786 | &nbsp;&nbsp; (62941644)<br>| &nbsp;&nbsp; 154033 | &nbsp;&nbsp; 13424741 | &nbsp;&nbsp; — |
| T. Rowe Price Large Cap Value Portfolio (Class A) | &nbsp;&nbsp; 12302327 | &nbsp;&nbsp; 1488538 | &nbsp;&nbsp; (1104033)<br>| &nbsp;&nbsp; 162373 | &nbsp;&nbsp; (609550)<br>| &nbsp;&nbsp; 12239655 |
| T. Rowe Price Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 37400067 | &nbsp;&nbsp; 5754243 | &nbsp;&nbsp; (2823806)<br>| &nbsp;&nbsp; (245483)<br>| &nbsp;&nbsp; (3726159)<br>| &nbsp;&nbsp; 36358862 |
| T. Rowe Price Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 59700335 | &nbsp;&nbsp; 13869457 | &nbsp;&nbsp; (5361856)<br>| &nbsp;&nbsp; (876838)<br>| &nbsp;&nbsp; (6459655)<br>| &nbsp;&nbsp; 60871443 |
| TCW Core Fixed Income Portfolio (Class A) | &nbsp;&nbsp; 299775586 | &nbsp;&nbsp; 17505165 | &nbsp;&nbsp; (24117960)<br>| &nbsp;&nbsp; (4156200)<br>| &nbsp;&nbsp; 8878771 | &nbsp;&nbsp; 297885362 |
| VanEck Global Natural Resources Portfolio (Class A) | &nbsp;&nbsp; 67527138 | &nbsp;&nbsp; 4719511 | &nbsp;&nbsp; (15666567)<br>| &nbsp;&nbsp; 7388337 | &nbsp;&nbsp; 6633138 | &nbsp;&nbsp; 70601557 |
| Western Asset Management Strategic Bond Opportunities Portfolio (Class A) | &nbsp;&nbsp; 167761339 | &nbsp;&nbsp; 11872177 | &nbsp;&nbsp; (26001743)<br>| &nbsp;&nbsp; (5642124)<br>| &nbsp;&nbsp; 5078855 | &nbsp;&nbsp; 153068504 |
| Western Asset Management U.S. Government Portfolio (Class A) | &nbsp;&nbsp; 178326466 | &nbsp;&nbsp; 9452519 | &nbsp;&nbsp; (19383686)<br>| &nbsp;&nbsp; (2787331)<br>| &nbsp;&nbsp; 5494868 | &nbsp;&nbsp; 171102836 |
|  | &nbsp;&nbsp; $3505000430 | &nbsp;&nbsp; $344938861 | &nbsp;&nbsp; $(533665419)<br>| &nbsp;&nbsp; $4052823 | &nbsp;&nbsp; $100127372 | &nbsp;&nbsp; $3420454067 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Capital Gain** <br>**Distributions from** <br>**Affiliated Investments**<br>| **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| AB International Bond Portfolio (Class A) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5016720 | &nbsp;&nbsp; 6750988 |
| Allspring Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 11986327 | &nbsp;&nbsp; 1185461 | &nbsp;&nbsp; 7153775 |
| Baillie Gifford International Stock Portfolio (Class A) | &nbsp;&nbsp; 5562538 | &nbsp;&nbsp; 940638 | &nbsp;&nbsp; 11974706 |
| BlackRock Bond Income Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 19400520 | &nbsp;&nbsp; 4087280 |
| BlackRock Capital Appreciation Portfolio (Class A) | &nbsp;&nbsp; 1425653 | &nbsp;&nbsp; — | &nbsp;&nbsp; 248348 |
| BlackRock High Yield Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 3312962 | &nbsp;&nbsp; 6530325 |
| Brighthouse Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 8477357 | &nbsp;&nbsp; 896343 | &nbsp;&nbsp; 5118794 |
| Brighthouse/Artisan International Portfolio (Class A) | &nbsp;&nbsp; 16322222 | &nbsp;&nbsp; 1306352 | &nbsp;&nbsp; 8095132 |
| Brighthouse/Artisan Mid Cap Value Portfolio (Class A) | &nbsp;&nbsp; 13375905 | &nbsp;&nbsp; 950354 | &nbsp;&nbsp; 433653 |
| Brighthouse/Dimensional International Small Company Portfolio (Class A) | &nbsp;&nbsp; 4018083 | &nbsp;&nbsp; 2046948 | &nbsp;&nbsp; 5897263 |
| Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 6611057 | &nbsp;&nbsp; 7933995 |
| Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 5433244 | &nbsp;&nbsp; 11959356 |
| Brighthouse/Templeton International Bond Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6906165 |
| Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) | &nbsp;&nbsp; 2342262 | &nbsp;&nbsp; 269370 | &nbsp;&nbsp; 711212 |
| Brighthouse/Wellington Large Cap Research Portfolio (Class A) | &nbsp;&nbsp; 3910483 | &nbsp;&nbsp; 113169 | &nbsp;&nbsp; 1569153 |
| CBRE Global Real Estate Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 1276873 | &nbsp;&nbsp; 4154390 |
| Frontier Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 3169047 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2165020 |
| Harris Oakmark International Portfolio (Class A) | &nbsp;&nbsp; 6370667 | &nbsp;&nbsp; 4368457 | &nbsp;&nbsp; 13025921 |
| Invesco Comstock Portfolio (Class A) | &nbsp;&nbsp; 654223 | &nbsp;&nbsp; 113388 | &nbsp;&nbsp; 428610 |
| Invesco Global Equity Portfolio (Class A) | &nbsp;&nbsp; 7508533 | &nbsp;&nbsp; 72358 | &nbsp;&nbsp; 2096061 |
| Invesco Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4338768 |
| Jennison Growth Portfolio (Class A) | &nbsp;&nbsp; 2710043 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1026471 |
| JPMorgan Core Bond Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 8837499 | &nbsp;&nbsp; 23640897 |
| JPMorgan Small Cap Value Portfolio (Class A) | &nbsp;&nbsp; 4573819 | &nbsp;&nbsp; 507796 | &nbsp;&nbsp; 3798000 |
| Loomis Sayles Growth Portfolio (Class A) | &nbsp;&nbsp; 1613647 | &nbsp;&nbsp; — | &nbsp;&nbsp; 647148 |
| MFS Research International Portfolio (Class A) | &nbsp;&nbsp; 7176983 | &nbsp;&nbsp; 2469699 | &nbsp;&nbsp; 9772232 |
| MFS Value Portfolio (Class A) | &nbsp;&nbsp; 1759046 | &nbsp;&nbsp; 281960 | &nbsp;&nbsp; 1174185 |
| Morgan Stanley Discovery Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2365848 |
| Neuberger Berman Genesis Portfolio (Class A) | &nbsp;&nbsp; 4340376 | &nbsp;&nbsp; 34800 | &nbsp;&nbsp; 2171766 |
| PIMCO Inflation Protected Bond Portfolio (Class A) | &nbsp;&nbsp; 717920 | &nbsp;&nbsp; 1234823 | &nbsp;&nbsp; 9495169 |
| PIMCO Total Return Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 15586288 | &nbsp;&nbsp; 27102853 |
| SSGA Emerging Markets Enhanced Index Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 902782 | &nbsp;&nbsp; 7129288 |
| SSGA Emerging Markets Enhanced Index Portfolio II (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 941786 | &nbsp;&nbsp; — |
| T. Rowe Price Large Cap Value Portfolio (Class A) | &nbsp;&nbsp; 1136021 | &nbsp;&nbsp; 245568 | &nbsp;&nbsp; 468056 |
| T. Rowe Price Mid Cap Growth Portfolio (Class A) | &nbsp;&nbsp; 5085649 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4349146 |

---

**BHFTI-91**

------

**Brighthouse Funds Trust I**

**Brighthouse Balanced Plus Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Capital Gain**<br> **Distributions from**<br> **Affiliated Investments**<br>| **Income earned**<br> **from affiliates**<br> **during the period**<br>| **Number of**<br> **shares held at**<br> **September 30, 2025**<br>|
| T. Rowe Price Small Cap Growth Portfolio (Class A) | &nbsp;&nbsp; $12399758 | &nbsp;&nbsp; $153566 | &nbsp;&nbsp; 3311830 |
| TCW Core Fixed Income Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 13696061 | &nbsp;&nbsp; 34122035 |
| VanEck Global Natural Resources Portfolio (Class A) | &nbsp;&nbsp; 1182725 | &nbsp;&nbsp; 2228323 | &nbsp;&nbsp; 5316382 |
| Western Asset Management Strategic Bond Opportunities Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 11872177 | &nbsp;&nbsp; 14495123 |
| Western Asset Management U.S. Government Portfolio (Class A) | &nbsp;&nbsp; — | &nbsp;&nbsp; 6960669 | &nbsp;&nbsp; 16126563 |
|  | &nbsp;&nbsp; $127819287 | &nbsp;&nbsp; $119268011 |  |

---

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 5783 | USD | 1948509562 | &nbsp;&nbsp;&nbsp; $23684571 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 523 | USD | 62792688 | &nbsp;&nbsp;&nbsp; 1723081 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (199)<br>| USD | (41471289)<br>| &nbsp;&nbsp;&nbsp; (62116)<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (753)<br>| USD | (86653828)<br>| &nbsp;&nbsp;&nbsp; (912370)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $24433166 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; $3420454067 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3420454067 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1534517687 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1534517687 |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 178059799 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 178059799 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 133582656 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 133582656 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40049368 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40049368 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2024439 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2024439 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14947921 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14947921 |
| Total Investments | &nbsp;&nbsp;&nbsp; $3420454067 | &nbsp;&nbsp;&nbsp; $1903181870 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $5323635937 |
| Reverse Repurchase Agreements (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(193511269)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(193511269)<br>|
| Secured Borrowings (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(186373445)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(186373445)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $25407652 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $25407652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (974486)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (974486)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $24433166 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $24433166 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-92**

------

**Brighthouse Funds Trust I**

**Brighthouse Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—97.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Automobile Components — 0.5%** | **Automobile Components — 0.5%** | **Automobile Components — 0.5%** |
| Holley, Inc. (a) | 1189595 | &nbsp;&nbsp;&nbsp; $3735328 |
| **Banks — 11.9%** | **Banks — 11.9%** | **Banks — 11.9%** |
| Associated Banc-Corp. (b) | 219691 | &nbsp;&nbsp;&nbsp; 5648256 |
| BOK Financial Corp. (b) | 36318 | &nbsp;&nbsp;&nbsp; 4047278 |
| Hancock Whitney Corp. (b) | 241132 | &nbsp;&nbsp;&nbsp; 15097275 |
| Old National Bancorp (b) | 333841 | &nbsp;&nbsp;&nbsp; 7327810 |
| Renasant Corp. (b) | 240470 | &nbsp;&nbsp;&nbsp; 8870938 |
| Southstate Bank Corp.  | 153063 | &nbsp;&nbsp;&nbsp; 15133339 |
| UMB Financial Corp. (b) | 217421 | &nbsp;&nbsp;&nbsp; 25731775 |
| Webster Financial Corp.  | 99921 | &nbsp;&nbsp;&nbsp; 5939304 |
|  |  | &nbsp;&nbsp;&nbsp; 87795975 |
| **Broadline Retail — 0.4%** | **Broadline Retail — 0.4%** | **Broadline Retail — 0.4%** |
| Pattern Group, Inc. - Class A (a) (b) | 224836 | &nbsp;&nbsp;&nbsp; 3080253 |
| **Building Products — 5.0%** | **Building Products — 5.0%** | **Building Products — 5.0%** |
| CSW Industrials, Inc. (b) | 18753 | &nbsp;&nbsp;&nbsp; 4552291 |
| Janus International Group, Inc. (a) | 410135 | &nbsp;&nbsp;&nbsp; 4048032 |
| Quanex Building Products Corp. (b) | 370852 | &nbsp;&nbsp;&nbsp; 5273515 |
| Simpson Manufacturing Co., Inc. (b) | 44775 | &nbsp;&nbsp;&nbsp; 7498022 |
| UFP Industries, Inc. (b) | 162272 | &nbsp;&nbsp;&nbsp; 15170809 |
|  |  | &nbsp;&nbsp;&nbsp; 36542669 |
| **Capital Markets — 0.7%** | **Capital Markets — 0.7%** | **Capital Markets — 0.7%** |
| GlassBridge Enterprises, Inc. (a) | 572 | &nbsp;&nbsp;&nbsp; 17160 |
| Marex Group PLC | 110896 | &nbsp;&nbsp;&nbsp; 3728323 |
| Westwood Holdings Group, Inc. (b) | 64638 | &nbsp;&nbsp;&nbsp; 1065881 |
|  |  | &nbsp;&nbsp;&nbsp; 4811364 |
| **Chemicals — 9.0%** | **Chemicals — 9.0%** | **Chemicals — 9.0%** |
| Avient Corp. (b) | 476642 | &nbsp;&nbsp;&nbsp; 15705354 |
| Ecovyst, Inc. (a) (b) | 611589 | &nbsp;&nbsp;&nbsp; 5357520 |
| Innospec, Inc.  | 286143 | &nbsp;&nbsp;&nbsp; 22078794 |
| Mativ Holdings, Inc.  | 524112 | &nbsp;&nbsp;&nbsp; 5927707 |
| Minerals Technologies, Inc.  | 66291 | &nbsp;&nbsp;&nbsp; 4117997 |
| NewMarket Corp. (b) | 10235 | &nbsp;&nbsp;&nbsp; 8476729 |
| Quaker Chemical Corp.  | 37470 | &nbsp;&nbsp;&nbsp; 4936672 |
|  |  | &nbsp;&nbsp;&nbsp; 66600773 |
| **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** |
| ACCO Brands Corp. (b) | 1004161 | &nbsp;&nbsp;&nbsp; 4006603 |
| Ennis, Inc. (b) | 212229 | &nbsp;&nbsp;&nbsp; 3879546 |
|  |  | &nbsp;&nbsp;&nbsp; 7886149 |
| **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** |
| CommScope Holding Co., Inc. (a) | 292434 | &nbsp;&nbsp;&nbsp; 4526878 |
| **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** |
| Legence Corp. - Class A (a) | 73022 | &nbsp;&nbsp;&nbsp; 2249808 |
| **Construction Materials — 3.4%** | **Construction Materials — 3.4%** | **Construction Materials — 3.4%** |
| Eagle Materials, Inc.  | 86759 | &nbsp;&nbsp;&nbsp; 20218318 |
| Titan America SA (a) (b) | 328547 | &nbsp;&nbsp;&nbsp; 4908492 |
|  |  | &nbsp;&nbsp;&nbsp; 25126810 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Containers & Packaging — 4.4%** | **Containers & Packaging — 4.4%** | **Containers & Packaging — 4.4%** |
| Myers Industries, Inc.  | 310197 | &nbsp;&nbsp;&nbsp; $5254737 |
| Silgan Holdings, Inc. (b) | 333035 | &nbsp;&nbsp;&nbsp; 14323836 |
| TriMas Corp. (b) | 334886 | &nbsp;&nbsp;&nbsp; 12939995 |
|  |  | &nbsp;&nbsp;&nbsp; 32518568 |
| **Diversified Consumer Services — 0.5%** | **Diversified Consumer Services — 0.5%** | **Diversified Consumer Services — 0.5%** |
| Matthews International Corp. - Class A (b) | 142239 | &nbsp;&nbsp;&nbsp; 3453563 |
| **Electrical Equipment — 0.6%** | **Electrical Equipment — 0.6%** | **Electrical Equipment — 0.6%** |
| Atkore, Inc.  | 69033 | &nbsp;&nbsp;&nbsp; 4331130 |
| **Electronic Equipment, Instruments & Components — 4.5%** | **Electronic Equipment, Instruments & Components — 4.5%** | **Electronic Equipment, Instruments & Components — 4.5%** |
| Belden, Inc. (b) | 117832 | &nbsp;&nbsp;&nbsp; 14171655 |
| Ingram Micro Holding Corp. (b) | 136421 | &nbsp;&nbsp;&nbsp; 2931687 |
| Insight Enterprises, Inc. (a) (b) | 23153 | &nbsp;&nbsp;&nbsp; 2625782 |
| Knowles Corp. (a) | 165312 | &nbsp;&nbsp;&nbsp; 3853423 |
| Novanta, Inc. (a) | 58933 | &nbsp;&nbsp;&nbsp; 5902140 |
| Sanmina Corp. (a) | 31068 | &nbsp;&nbsp;&nbsp; 3576237 |
|  |  | &nbsp;&nbsp;&nbsp; 33060924 |
| **Energy Equipment & Services — 0.8%** | **Energy Equipment & Services — 0.8%** | **Energy Equipment & Services — 0.8%** |
| Forum Energy Technologies, Inc. (a) (b) | 38336 | &nbsp;&nbsp;&nbsp; 1023954 |
| Liberty Energy, Inc. (b) | 231349 | &nbsp;&nbsp;&nbsp; 2854847 |
| Patterson-UTI Energy, Inc. (b) | 449789 | &nbsp;&nbsp;&nbsp; 2329907 |
|  |  | &nbsp;&nbsp;&nbsp; 6208708 |
| **Financial Services — 1.2%** | **Financial Services — 1.2%** | **Financial Services — 1.2%** |
| Compass Diversified Holdings | 577228 | &nbsp;&nbsp;&nbsp; 3821249 |
| Euronet Worldwide, Inc. (a) (b) | 58244 | &nbsp;&nbsp;&nbsp; 5114406 |
|  |  | &nbsp;&nbsp;&nbsp; 8935655 |
| **Food Products — 4.7%** | **Food Products — 4.7%** | **Food Products — 4.7%** |
| J&J Snack Foods Corp. (b) | 213262 | &nbsp;&nbsp;&nbsp; 20492345 |
| Nomad Foods Ltd.  | 663978 | &nbsp;&nbsp;&nbsp; 8731311 |
| Tootsie Roll Industries, Inc. (b) | 131387 | &nbsp;&nbsp;&nbsp; 5507743 |
|  |  | &nbsp;&nbsp;&nbsp; 34731399 |
| **Gas Utilities — 0.6%** | **Gas Utilities — 0.6%** | **Gas Utilities — 0.6%** |
| MDU Resources Group, Inc. (b) | 268986 | &nbsp;&nbsp;&nbsp; 4790641 |
| **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** |
| Werner Enterprises, Inc.  | 258040 | &nbsp;&nbsp;&nbsp; 6791613 |
| **Health Care Equipment & Supplies — 2.7%** | **Health Care Equipment & Supplies — 2.7%** | **Health Care Equipment & Supplies — 2.7%** |
| CONMED Corp. (b) | 37381 | &nbsp;&nbsp;&nbsp; 1758028 |
| Enovis Corp. (a) (b) | 91022 | &nbsp;&nbsp;&nbsp; 2761607 |
| Globus Medical, Inc. - Class A (a) (b) | 63958 | &nbsp;&nbsp;&nbsp; 3662875 |
| Haemonetics Corp. (a) | 117732 | &nbsp;&nbsp;&nbsp; 5738258 |
| UFP Technologies, Inc. (a) | 7653 | &nbsp;&nbsp;&nbsp; 1527539 |
| Varex Imaging Corp. (a) | 346253 | &nbsp;&nbsp;&nbsp; 4293537 |
|  |  | &nbsp;&nbsp;&nbsp; 19741844 |
| **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** |
| Ardent Health, Inc. (a) | 104643 | &nbsp;&nbsp;&nbsp; 1386520 |

---

**BHFTI-93**

------

**Brighthouse Funds Trust I**

**Brighthouse Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care Providers & Services—(Continued)** | **Health Care Providers & Services—(Continued)** | **Health Care Providers & Services—(Continued)** |
| Chemed Corp.  | 7810 | &nbsp;&nbsp;&nbsp; $3496849 |
|  |  | &nbsp;&nbsp;&nbsp; 4883369 |
| **Hotels, Restaurants & Leisure — 2.6%** | **Hotels, Restaurants & Leisure — 2.6%** | **Hotels, Restaurants & Leisure — 2.6%** |
| Boyd Gaming Corp. (b) | 46267 | &nbsp;&nbsp;&nbsp; 3999782 |
| Denny's Corp. (a) (b) | 741470 | &nbsp;&nbsp;&nbsp; 3877888 |
| Genius Sports Ltd. (a) | 320645 | &nbsp;&nbsp;&nbsp; 3969585 |
| Pursuit Attractions & Hospitality, Inc. (a) (b) | 201376 | &nbsp;&nbsp;&nbsp; 7285784 |
|  |  | &nbsp;&nbsp;&nbsp; 19133039 |
| **Household Durables — 0.4%** | **Household Durables — 0.4%** | **Household Durables — 0.4%** |
| La-Z-Boy, Inc. (b) | 95521 | &nbsp;&nbsp;&nbsp; 3278281 |
| **Household Products — 1.4%** | **Household Products — 1.4%** | **Household Products — 1.4%** |
| Central Garden & Pet Co. (Voting Shares) (a) (b) | 77122 | &nbsp;&nbsp;&nbsp; 2518033 |
| Central Garden & Pet Co. (Non-Voting Shares) - Class A (a) | 275102 | &nbsp;&nbsp;&nbsp; 8123762 |
|  |  | &nbsp;&nbsp;&nbsp; 10641795 |
| **Insurance — 5.7%** | **Insurance — 5.7%** | **Insurance — 5.7%** |
| Abacus Global Management, Inc. (a) (b) | 200100 | &nbsp;&nbsp;&nbsp; 1146573 |
| CNO Financial Group, Inc.  | 138862 | &nbsp;&nbsp;&nbsp; 5491992 |
| Hanover Insurance Group, Inc.  | 61656 | &nbsp;&nbsp;&nbsp; 11198580 |
| Stewart Information Services Corp.  | 230484 | &nbsp;&nbsp;&nbsp; 16899087 |
| White Mountains Insurance Group Ltd. (b) | 4285 | &nbsp;&nbsp;&nbsp; 7162463 |
|  |  | &nbsp;&nbsp;&nbsp; 41898695 |
| **Interactive Media & Services — 0.5%** | **Interactive Media & Services — 0.5%** | **Interactive Media & Services — 0.5%** |
| Angi, Inc. (a) | 34489 | &nbsp;&nbsp;&nbsp; 560791 |
| IAC, Inc. (a) | 86115 | &nbsp;&nbsp;&nbsp; 2933938 |
|  |  | &nbsp;&nbsp;&nbsp; 3494729 |
| **IT Services — 0.8%** | **IT Services — 0.8%** | **IT Services — 0.8%** |
| Kyndryl Holdings, Inc. (a) | 190489 | &nbsp;&nbsp;&nbsp; 5720385 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |
| Mattel, Inc. (a) | 37591 | &nbsp;&nbsp;&nbsp; 632657 |
| **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** |
| Azenta, Inc. (a) (b) | 103396 | &nbsp;&nbsp;&nbsp; 2969533 |
| **Machinery — 13.8%** | **Machinery — 13.8%** | **Machinery — 13.8%** |
| Alamo Group, Inc. (b) | 75846 | &nbsp;&nbsp;&nbsp; 14479001 |
| Atmus Filtration Technologies, Inc.  | 145147 | &nbsp;&nbsp;&nbsp; 6544678 |
| Douglas Dynamics, Inc. (b) | 332594 | &nbsp;&nbsp;&nbsp; 10396889 |
| Franklin Electric Co., Inc.  | 267512 | &nbsp;&nbsp;&nbsp; 25467143 |
| Gates Industrial Corp. PLC (a) (b) | 220793 | &nbsp;&nbsp;&nbsp; 5480082 |
| Hillman Solutions Corp. (a) (b) | 891922 | &nbsp;&nbsp;&nbsp; 8187844 |
| Mayville Engineering Co., Inc. (a) | 266449 | &nbsp;&nbsp;&nbsp; 3666338 |
| Mueller Industries, Inc.  | 218418 | &nbsp;&nbsp;&nbsp; 22084244 |
| Standex International Corp. (b) | 23392 | &nbsp;&nbsp;&nbsp; 4956765 |
|  |  | &nbsp;&nbsp;&nbsp; 101262984 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| Thryv Holdings, Inc. (a) (b) | 150551 | &nbsp;&nbsp;&nbsp; 1815645 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Mortgage Real Estate Investment Trusts — 2.4%** | **Mortgage Real Estate Investment Trusts — 2.4%** | **Mortgage Real Estate Investment Trusts — 2.4%** |
| Adamas Trust, Inc. (b) | 495147 | &nbsp;&nbsp;&nbsp; $3451175 |
| AGNC Investment Corp. (b) | 875465 | &nbsp;&nbsp;&nbsp; 8570802 |
| Two Harbors Investment Corp. (b) | 569174 | &nbsp;&nbsp;&nbsp; 5617747 |
|  |  | &nbsp;&nbsp;&nbsp; 17639724 |
| **Oil, Gas & Consumable Fuels — 3.4%** | **Oil, Gas & Consumable Fuels — 3.4%** | **Oil, Gas & Consumable Fuels — 3.4%** |
| Berry Corp.  | 347023 | &nbsp;&nbsp;&nbsp; 1311747 |
| Chord Energy Corp.  | 101404 | &nbsp;&nbsp;&nbsp; 10076515 |
| Magnolia Oil & Gas Corp. - Class A (b) | 380508 | &nbsp;&nbsp;&nbsp; 9082726 |
| Northern Oil & Gas, Inc. (b) | 171866 | &nbsp;&nbsp;&nbsp; 4262277 |
|  |  | &nbsp;&nbsp;&nbsp; 24733265 |
| **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** |
| Perrigo Co. PLC (b) | 157693 | &nbsp;&nbsp;&nbsp; 3511823 |
| Prestige Consumer Healthcare, Inc. (a) (b) | 188700 | &nbsp;&nbsp;&nbsp; 11774880 |
|  |  | &nbsp;&nbsp;&nbsp; 15286703 |
| **Professional Services — 3.3%** | **Professional Services — 3.3%** | **Professional Services — 3.3%** |
| Alight, Inc. - Class A | 341130 | &nbsp;&nbsp;&nbsp; 1112084 |
| CBIZ, Inc. (a) (b) | 86983 | &nbsp;&nbsp;&nbsp; 4606620 |
| Korn Ferry | 190935 | &nbsp;&nbsp;&nbsp; 13361631 |
| Maximus, Inc.  | 56803 | &nbsp;&nbsp;&nbsp; 5190090 |
|  |  | &nbsp;&nbsp;&nbsp; 24270425 |
| **Retail REITs — 0.7%** | **Retail REITs — 0.7%** | **Retail REITs — 0.7%** |
| Agree Realty Corp. (b) | 73127 | &nbsp;&nbsp;&nbsp; 5194942 |
| **Semiconductors & Semiconductor Equipment — 0.4%** | **Semiconductors & Semiconductor Equipment — 0.4%** | **Semiconductors & Semiconductor Equipment — 0.4%** |
| Axcelis Technologies, Inc. (a) (b) | 13965 | &nbsp;&nbsp;&nbsp; 1363543 |
| Diodes, Inc. (a) (b) | 28049 | &nbsp;&nbsp;&nbsp; 1492487 |
|  |  | &nbsp;&nbsp;&nbsp; 2856030 |
| **Software — 0.9%** | **Software — 0.9%** | **Software — 0.9%** |
| Progress Software Corp. (a) | 135596 | &nbsp;&nbsp;&nbsp; 5956732 |
| Synchronoss Technologies, Inc. (a) | 76662 | &nbsp;&nbsp;&nbsp; 466105 |
|  |  | &nbsp;&nbsp;&nbsp; 6422837 |
| **Specialized REITs — 0.3%** | **Specialized REITs — 0.3%** | **Specialized REITs — 0.3%** |
| Smartstop Self Storage REIT, Inc. (b) | 61491 | &nbsp;&nbsp;&nbsp; 2314521 |
| **Specialty Retail — 0.5%** | **Specialty Retail — 0.5%** | **Specialty Retail — 0.5%** |
| Five Below, Inc. (a) (b) | 21598 | &nbsp;&nbsp;&nbsp; 3341211 |
| **Technology Hardware, Storage & Peripherals — 0.8%** | **Technology Hardware, Storage & Peripherals — 0.8%** | **Technology Hardware, Storage & Peripherals — 0.8%** |
| Diebold Nixdorf, Inc. (a) | 101332 | &nbsp;&nbsp;&nbsp; 5778964 |
| **Textiles, Apparel & Luxury Goods — 1.4%** | **Textiles, Apparel & Luxury Goods — 1.4%** | **Textiles, Apparel & Luxury Goods — 1.4%** |
| Crocs, Inc. (a) (b) | 11429 | &nbsp;&nbsp;&nbsp; 954893 |
| Levi Strauss & Co. - Class A | 174250 | &nbsp;&nbsp;&nbsp; 4060025 |
| Steven Madden Ltd. (b) | 158613 | &nbsp;&nbsp;&nbsp; 5310363 |
|  |  | &nbsp;&nbsp;&nbsp; 10325281 |

---

**BHFTI-94**

------

**Brighthouse Funds Trust I**

**Brighthouse Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** |
| Custom Truck One Source, Inc. (a) (b) | 474591 | &nbsp;&nbsp;&nbsp; $3046874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $689,567,391) <br>|  | &nbsp;&nbsp;&nbsp; 713861941 |
| **Escrow Shares—0.0%** | **Escrow Shares—0.0%** | **Escrow Shares—0.0%** |
| **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Tontine Holdings Ltd. (a) (c) (d) <br>(Cost $0)<br>| 140969 | &nbsp;&nbsp;&nbsp; 0 |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** | **Special Purpose Acquisition Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Holdings Ltd. (a) <br>(Cost $0)<br>| 35242 | &nbsp;&nbsp;&nbsp; 0 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—2.8%** | **Short-Term Investments—2.8%** | **Short-Term Investments—2.8%** |
| **Repurchase Agreement—2.8%** | **Repurchase Agreement—2.8%** | **Repurchase Agreement—2.8%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $20,579,322; collateralized <br> by U.S. Treasury Note at 0.125%, maturing 04/15/27, with a <br> market value of $20,989,252<br>| 20577607 | &nbsp;&nbsp;&nbsp; 20577607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $20,577,607) <br>|  | &nbsp;&nbsp;&nbsp; 20577607 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—13.2%** | **Securities Lending Reinvestments (e)—13.2%** | **Securities Lending Reinvestments (e)—13.2%** |
| **Short-Term Investment Funds—0.1%** | **Short-Term Investment Funds—0.1%** | **Short-Term Investment Funds—0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class, 4.050% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—0.8%** | **Certificates of Deposit—0.8%** | **Certificates of Deposit—0.8%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/24/25 | 1000000 | &nbsp;&nbsp;&nbsp; 997280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 08/07/26 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 1000252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 1999997 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 1000055 |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 1000174 |
|  |  | &nbsp;&nbsp;&nbsp; 5997758 |
| **Commercial Paper—0.8%** | **Commercial Paper—0.8%** | **Commercial Paper—0.8%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2500000 | &nbsp;&nbsp;&nbsp; 2499398 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, SOFR + 0.150%, 10/06/25 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 999999 |
| Salisbury Receivables Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 12/11/25 | 1000000 | &nbsp;&nbsp;&nbsp; 991606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.180%, 12/08/25 | 1000000 | &nbsp;&nbsp;&nbsp; 991950 |
|  |  | &nbsp;&nbsp;&nbsp; 5482953 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—9.6%** | **Repurchase Agreements—9.6%** | **Repurchase Agreements—9.6%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $2,000,234; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $6,000,712; collateralized <br> by various Common Stock with an aggregate market value of <br> $6,674,015<br>| 6000000 | &nbsp;&nbsp;&nbsp; 6000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,011,541; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $1,114,015<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $2,000,232; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $2,040,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $2,400,277; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $2,448,000<br>| 2400000 | &nbsp;&nbsp;&nbsp; 2400000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $4,530,377; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $4,620,447<br>| 4529850 | &nbsp;&nbsp;&nbsp; 4529850 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $6,000,713; collateralized <br> by various Common Stock with an aggregate market value of <br> $6,690,565<br>| 6000000 | &nbsp;&nbsp;&nbsp; 6000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $4,000,476; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,460,377<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $14,011,706; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $15,570,630<br>| 14000000 | &nbsp;&nbsp;&nbsp; 14000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $3,012,717; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,333,737<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |

---

**BHFTI-95**

------

**Brighthouse Funds Trust I**

**Brighthouse Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $2,500,284; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $2,550,000<br>| 2500000 | &nbsp;&nbsp;&nbsp; $2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $5,000,592; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,562,210<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $16,001,862; collateralized <br> by various Common Stock with an aggregate market value of <br> $17,602,049<br>| 16000000 | &nbsp;&nbsp;&nbsp; 16000000 |
|  |  | &nbsp;&nbsp;&nbsp; 70429850 |
| **Time Deposits—1.9%** | **Time Deposits—1.9%** | **Time Deposits—1.9%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.160%, OBFR + 0.070% 10/07/25 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 14000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $96,910,693) <br>|  | &nbsp;&nbsp;&nbsp; 96910561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—113.0% <br>(Cost $807,055,691) <br>|  | &nbsp;&nbsp;&nbsp; 831350109 |
| Other assets and liabilities (net)—(13.0)%  |  | &nbsp;&nbsp;&nbsp; (95402198)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $735947911 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of 

---

| | |
|:---|:---|
|  | securities loaned was $160,972,538 and the collateral received consisted of cash in the amount <br> of $96,897,525 and non-cash collateral with a value of $67,508,983. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (c) | Security was valued in good faith under procedures subject to oversight by the Board of Trustees. <br> As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (d) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |
| (e) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (f) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (g) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For securities <br> based on a published reference index and spread, the index and spread are indicated in the <br> description above. For certain variable rate securities, the coupon rate is determined by the <br> issuer/agent based on current market conditions. For certain asset- and mortgage-backed <br> securities, the coupon rate may fluctuate based on changes of the underlying collateral or <br> prepayments of principal. These securities do not indicate a reference index and spread in their <br> description above.<br>|

---

**BHFTI-96**

------

**Brighthouse Funds Trust I**

**Brighthouse Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $713861941 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $713861941 |
| Total Escrow Shares\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| Total Rights\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20577607 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20577607 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5997758 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5997758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5482953 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5482953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 70429850 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 70429850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 95910561 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 96910561 |
| Total Investments | &nbsp;&nbsp;&nbsp; $714861941 | &nbsp;&nbsp;&nbsp; $116488168 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $831350109 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(96897525)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(96897525)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-97**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—91.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Advertising — 0.5%** | **Advertising — 0.5%** | **Advertising — 0.5%** |
| Neptune Bidco U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 USD Term Loan B, 9.429%, 3M TSFR + 5.000%, <br> 04/11/29<br>| 1358526 | &nbsp;&nbsp;&nbsp; $1296118 |
| Planet U.S. Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.198%, 3M TSFR + 3.000%, 02/07/31 | 1209687 | &nbsp;&nbsp;&nbsp; 1218004 |
|  |  | &nbsp;&nbsp;&nbsp; 2514122 |
| **Aerospace/Defense — 1.5%** | **Aerospace/Defense — 1.5%** | **Aerospace/Defense — 1.5%** |
| Air Comm Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 12/11/31 (b) | 68077 | &nbsp;&nbsp;&nbsp; 68332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.740% - 7.058%, 3M TSFR + 2.750%, <br> 12/11/31 (c)<br>| 1400010 | &nbsp;&nbsp;&nbsp; 1405261 |
| Kaman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 6.828%, 3M TSFR + 2.500%, <br> 02/26/32 (b)<br>| 128956 | &nbsp;&nbsp;&nbsp; 128714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.544% - 6.699%, 3M TSFR + 2.500%, 6M <br> TSFR + 2.500%, 02/26/32 (c)<br>| 1367263 | &nbsp;&nbsp;&nbsp; 1364699 |
| Novaria Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.413%, 1M TSFR + 3.250%, 06/06/31 | 198006 | &nbsp;&nbsp;&nbsp; 198563 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan J, 6.502%, 3M TSFR + 2.500%, 02/28/31 | 3026720 | &nbsp;&nbsp;&nbsp; 3027603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan K, 6.252%, 3M TSFR + 2.250%, 03/22/30 | 1589178 | &nbsp;&nbsp;&nbsp; 1588806 |
|  |  | &nbsp;&nbsp;&nbsp; 7781978 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| A-AG U.S. GSI Bidco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 9.002%, 3M TSFR + 5.000%, 10/31/31 | 497500 | &nbsp;&nbsp;&nbsp; 495013 |
| Alltech, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 8.528%, 1M TSFR + 4.250%, 08/13/30 | 479863 | &nbsp;&nbsp;&nbsp; 481662 |
|  |  | &nbsp;&nbsp;&nbsp; 976675 |
| **Airlines — 0.6%** | **Airlines — 0.6%** | **Airlines — 0.6%** |
| American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.575%, 3M TSFR + 2.250%, 04/20/28 | 648375 | &nbsp;&nbsp;&nbsp; 648201 |
| Vista Management Holding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.041%, 3M TSFR + 3.750%, 04/01/31 | 1044500 | &nbsp;&nbsp;&nbsp; 1051464 |
| WestJet Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.252%, 3M TSFR + 3.250%, 02/14/31 | 1483734 | &nbsp;&nbsp;&nbsp; 1487289 |
|  |  | &nbsp;&nbsp;&nbsp; 3186954 |
| **Apparel — 1.2%** | **Apparel — 1.2%** | **Apparel — 1.2%** |
| ABG Intermediate Holdings 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.413%, 1M TSFR + 2.250%, <br> 12/21/28<br>| 1240412 | &nbsp;&nbsp;&nbsp; 1240670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 6.413%, 1M TSFR + 2.250%, <br> 02/13/32<br>| 572125 | &nbsp;&nbsp;&nbsp; 571588 |
| Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 7.308%, 3M TSFR + 3.250%, 09/12/32 | 1000000 | &nbsp;&nbsp;&nbsp; 1006250 |
| Hanesbrands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.913%, 1M TSFR + 2.750%, 03/07/32 | 1838940 | &nbsp;&nbsp;&nbsp; 1850433 |
| Varsity Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan, 7.026%, 3M TSFR + 3.000%, <br> 08/26/31<br>| 1492500 | &nbsp;&nbsp;&nbsp; 1495299 |
|  |  | &nbsp;&nbsp;&nbsp; 6164240 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** |
| Adient U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 6.413%, 1M TSFR + 2.250%, 01/31/31 | 661427 | &nbsp;&nbsp;&nbsp; $662549 |
| Autokiniton U.S. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.278%, 1M TSFR + 4.000%, 04/06/28 | 673998 | &nbsp;&nbsp;&nbsp; 667820 |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 05/06/30<br>| 2301794 | &nbsp;&nbsp;&nbsp; 2303711 |
| DexKo Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD Term Loan B, 8.028%, 1M TSFR + 3.750%, <br> 10/04/28<br>| 419663 | &nbsp;&nbsp;&nbsp; 413368 |
| First Brands Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan, 9.570%, 3M TSFR + 5.000%, <br> 03/30/27<br>| 1300000 | &nbsp;&nbsp;&nbsp; 476667 |
| Garrett LX I SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.308%, 3M TSFR + 2.000%, <br> 01/30/32<br>| 637124 | &nbsp;&nbsp;&nbsp; 638717 |
| RealTruck Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, 9.278%, 1M TSFR + 5.000%, <br> 01/31/28<br>| 689500 | &nbsp;&nbsp;&nbsp; 645257 |
|  |  | &nbsp;&nbsp;&nbsp; 5808089 |
| **Banks — 0.2%** | **Banks — 0.2%** | **Banks — 0.2%** |
| Armor Holding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Add-on Term Loan, 7.916%, 6M TSFR + 3.750%, <br> 12/11/28<br>| 198995 | &nbsp;&nbsp;&nbsp; 199451 |
| Walker & Dunlop, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.136%, 1M TSFR + 2.000%, 03/14/32 | 671625 | &nbsp;&nbsp;&nbsp; 673304 |
|  |  | &nbsp;&nbsp;&nbsp; 872755 |
| **Beverages — 1.1%** | **Beverages — 1.1%** | **Beverages — 1.1%** |
| Arterra Wines Canada, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan, 7.763%, 3M TSFR + 3.500%, 11/24/27 | 879963 | &nbsp;&nbsp;&nbsp; 858698 |
| City Brewing Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 PIK First Out Term Loan, 11.198%, 3M TSFR + 7.000%, <br> 09/30/30<br>| 125301 | &nbsp;&nbsp;&nbsp; 93976 |
| Primo Brands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.252%, 3M TSFR + 2.250%, 03/31/28 | 3993373 | &nbsp;&nbsp;&nbsp; 3997294 |
| Sazerac Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.700%, 1M TSFR + 2.500%, 07/09/32 | 900000 | &nbsp;&nbsp;&nbsp; 906469 |
|  |  | &nbsp;&nbsp;&nbsp; 5856437 |
| **Building Materials — 2.8%** | **Building Materials — 2.8%** | **Building Materials — 2.8%** |
| ACProducts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 8.513%, 3M TSFR + 4.250%, 05/17/28 | 1120072 | &nbsp;&nbsp;&nbsp; 940860 |
| Chamberlain Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.163%, 1M TSFR + 3.000%, 09/08/32 | 1949061 | &nbsp;&nbsp;&nbsp; 1952242 |
| Cornerstone Building Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.650%, 1M TSFR + 4.500%, 05/15/31 | 1930500 | &nbsp;&nbsp;&nbsp; 1768821 |
| EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.122%, 6M TSFR + 2.250%, 08/04/31 | 542023 | &nbsp;&nbsp;&nbsp; 540583 |
| Icebox Holdco III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 1st Lien Term Loan, 7.252%, 3M TSFR + 3.250%, <br> 12/22/31<br>| 885818 | &nbsp;&nbsp;&nbsp; 892462 |
| Knife River Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 6.123%, 3M TSFR + 2.000%, 03/08/32 | 223875 | &nbsp;&nbsp;&nbsp; 224715 |

---

**BHFTI-98**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Building Materials—(Continued)** | **Building Materials—(Continued)** | **Building Materials—(Continued)** |
| MI Windows & Doors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 6.913%, 1M TSFR + 2.750%, 03/28/31 | 765332 | &nbsp;&nbsp;&nbsp; $768885 |
| Oscar AcquisitionCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.252%, 3M TSFR + 4.250%, 04/29/29 | 805021 | &nbsp;&nbsp;&nbsp; 754875 |
| PHRG Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.002%, 1M TSFR + 4.000%, 02/20/32 | 897750 | &nbsp;&nbsp;&nbsp; 896628 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 6.413%, 1M TSFR + 2.250%, 03/19/29 | 706714 | &nbsp;&nbsp;&nbsp; 707818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.413%, 1M TSFR + 2.250%, 02/10/32 | 1592000 | &nbsp;&nbsp;&nbsp; 1593194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B1, 6.413%, 1M TSFR + 2.250%, 04/14/31 | 4066139 | &nbsp;&nbsp;&nbsp; 4069668 |
|  |  | &nbsp;&nbsp;&nbsp; 15110751 |
| **Chemicals — 2.9%** | **Chemicals — 2.9%** | **Chemicals — 2.9%** |
| A-AP Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.752%, 3M TSFR + 2.750%, 09/09/31 | 471438 | &nbsp;&nbsp;&nbsp; 474089 |
| Axalta Coating Systems U.S. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B7, 5.752%, 3M TSFR + 1.750%, 12/20/29 | 1301481 | &nbsp;&nbsp;&nbsp; 1308802 |
| Discovery Purchaser Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 8.082%, 3M TSFR + 3.750%, 10/04/29 | 1589034 | &nbsp;&nbsp;&nbsp; 1583288 |
| ECO Services Operations Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.308%, 3M TSFR + 2.000%, 06/12/31 | 724578 | &nbsp;&nbsp;&nbsp; 724215 |
| INEOS U.S. Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 USD Term Loan B, 7.413%, 1M TSFR + 3.250%, <br> 02/18/30<br>| 2718050 | &nbsp;&nbsp;&nbsp; 2490414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD 1st Lien Term Loan B, 7.163%, 1M TSFR + 3.000%, <br> 02/07/31<br>| 1014567 | &nbsp;&nbsp;&nbsp; 921354 |
| Lonza Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 8.027%, 3M TSFR + 3.925%, 07/03/28 | 1058773 | &nbsp;&nbsp;&nbsp; 957131 |
| Momentive Performance Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 8.163%, 1M TSFR + 4.000%, 03/29/28 | 1931052 | &nbsp;&nbsp;&nbsp; 1935879 |
| Natgasoline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 9.502%, 3M TSFR + 5.500%, 03/29/30 | 493750 | &nbsp;&nbsp;&nbsp; 494984 |
| Nouryon Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B1, 7.500%, 1M TSFR + 3.250%, <br> 04/03/28<br>| 741397 | &nbsp;&nbsp;&nbsp; 742015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B2, 7.424%, 1M TSFR + 3.250%, <br> 04/03/28<br>| 663251 | &nbsp;&nbsp;&nbsp; 664909 |
| Paint Intermediate III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.242%, 3M TSFR + 3.000%, 10/09/31 | 522375 | &nbsp;&nbsp;&nbsp; 522049 |
| PMHC II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 8.728%, 3M TSFR + 4.250%, 04/23/29 | 797402 | &nbsp;&nbsp;&nbsp; 645611 |
| Tronox Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.502% - 6.663%, 1M TSFR + <br> 2.500%, 3M TSFR + 2.500%, 09/30/31 (c)<br>| 1764665 | &nbsp;&nbsp;&nbsp; 1529965 |
| W.R. Grace & Co.-Conn. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.002%, 1M TSFR + 3.000%, 08/19/32 | 600000 | &nbsp;&nbsp;&nbsp; 601875 |
|  |  | &nbsp;&nbsp;&nbsp; 15596580 |
| **Coal — 0.1%** | **Coal — 0.1%** | **Coal — 0.1%** |
| Oxbow Carbon LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 7.663%, 1M TSFR + 3.500%, 05/10/30 | 530814 | &nbsp;&nbsp;&nbsp; 529487 |
| **Commercial Services — 9.6%** | **Commercial Services — 9.6%** | **Commercial Services — 9.6%** |
| AEA International Holdings Luxembourg SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 6.752%, 3M TSFR + 2.750%, <br> 09/07/28<br>| 2242919 | &nbsp;&nbsp;&nbsp; 2256937 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Services—(Continued)** | **Commercial Services—(Continued)** | **Commercial Services—(Continued)** |
| Albion Financing 3 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 7.215%, 3M TSFR + 3.000%, 05/21/31 | 1938672 | &nbsp;&nbsp;&nbsp; $1947153 |
| AlixPartners LLP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 08/12/32 (d) | 500000 | &nbsp;&nbsp;&nbsp; 497187 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 08/20/32 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2009204 |
| Amspec Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 7.502%, 3M TSFR + 3.500%, <br> 12/22/31 (b)<br>| 146520 | &nbsp;&nbsp;&nbsp; 147390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 7.502%, 3M TSFR + 3.500%, 12/22/31 | 950950 | &nbsp;&nbsp;&nbsp; 956597 |
| APFS Staffing Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.413%, 1M TSFR + 4.250%, 12/29/28 | 264643 | &nbsp;&nbsp;&nbsp; 235642 |
| Astro Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.122%, 6M TSFR + 3.250%, 08/30/32 | 600000 | &nbsp;&nbsp;&nbsp; 603375 |
| Avis Budget Car Rental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.663%, 1M TSFR + 2.500%, 07/16/32 | 299250 | &nbsp;&nbsp;&nbsp; 299250 |
| Belfor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 11/01/30<br>| 542946 | &nbsp;&nbsp;&nbsp; 544982 |
| Camelot U.S. Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.913%, 1M TSFR + 2.750%, 01/31/31 | 1490387 | &nbsp;&nbsp;&nbsp; 1483245 |
| CCRR Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.710%, 3M TSFR + 4.250%, 03/06/28 | 1476231 | &nbsp;&nbsp;&nbsp; 509300 |
| Citrin Cooperman Advisors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 04/01/32 (b) | 77273 | &nbsp;&nbsp;&nbsp; 77080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.002%, 3M TSFR + 3.000%, 04/01/32 | 1197727 | &nbsp;&nbsp;&nbsp; 1194733 |
| CohnReznick LLP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 03/31/32 (b) | 173872 | &nbsp;&nbsp;&nbsp; 174307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.502%, 3M TSFR + 4.000%, 03/31/32 | 749758 | &nbsp;&nbsp;&nbsp; 751632 |
| Corp. Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.163%, 1M TSFR + 2.000%, 11/02/29 | 513172 | &nbsp;&nbsp;&nbsp; 509483 |
| Creative Artists Agency LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 10/01/31<br>| 1694000 | &nbsp;&nbsp;&nbsp; 1697883 |
| EAB Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 7.163%, 1M TSFR + 3.000%, 08/16/30 | 931882 | &nbsp;&nbsp;&nbsp; 910040 |
| Employbridge Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 First Out Term Loan, 9.502%, 3M TSFR + 5.500%, <br> 01/19/30<br>| 936160 | &nbsp;&nbsp;&nbsp; 589781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan, 9.013%, 3M TSFR + 4.750%, <br> 01/19/30<br>| 1474574 | &nbsp;&nbsp;&nbsp; 243305 |
| Ensemble RCM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.308%, 3M TSFR + 3.000%, 08/01/29 | 2407231 | &nbsp;&nbsp;&nbsp; 2415613 |
| First Advantage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 10/31/31<br>| 1566709 | &nbsp;&nbsp;&nbsp; 1533417 |
| Foundational Education Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1st Lien Term Loan, 8.528%, 1M TSFR + 4.250%, 08/31/28 | 577500 | &nbsp;&nbsp;&nbsp; 515419 |
| Fugue Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 01/09/32 (d) | 500000 | &nbsp;&nbsp;&nbsp; 501094 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.174%, 1M TSFR + 3.000%, 02/01/29 | 2264385 | &nbsp;&nbsp;&nbsp; 2268631 |
| Grant Thornton Advisors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.663%, 1M TSFR + 2.500%, 06/02/31 | 2178689 | &nbsp;&nbsp;&nbsp; 2166887 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.255%, 1M TSFR + 2.000%, 06/02/32 | 350000 | &nbsp;&nbsp;&nbsp; 352187 |

---

**BHFTI-99**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Services—(Continued)** | **Commercial Services—(Continued)** | **Commercial Services—(Continued)** |
| Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 8.070%, 3M TSFR + 3.500%, 06/30/28 | 201394 | &nbsp;&nbsp;&nbsp; $182010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan C, 8.070%, 3M TSFR + 3.500%, 06/30/28 | 39640 | &nbsp;&nbsp;&nbsp; 35824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan B, 8.064%, 3M TSFR + 3.750%, <br> 06/30/28<br>| 530276 | &nbsp;&nbsp;&nbsp; 475922 |
| KUEHG Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.752%, 3M TSFR + 2.750%, 06/12/30 | 1322515 | &nbsp;&nbsp;&nbsp; 1323136 |
| Lernen Bidco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B3A, 7.863%, 3M TSFR + 3.500%, <br> 10/27/31<br>| 521072 | &nbsp;&nbsp;&nbsp; 524980 |
| Mavis Tire Express Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 7.199%, 3M TSFR + 3.000%, <br> 05/04/28<br>| 997494 | &nbsp;&nbsp;&nbsp; 997850 |
| Monitronics International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Exit Term Loan, 11.763%, 3M TSFR + 7.500%, <br> 06/30/28<br>| 773665 | &nbsp;&nbsp;&nbsp; 777534 |
| NAB Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.502%, 3M TSFR + 2.500%, <br> 11/23/28<br>| 3410716 | &nbsp;&nbsp;&nbsp; 3302709 |
| Nuvei Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 11/17/31<br>| 1519878 | &nbsp;&nbsp;&nbsp; 1521913 |
| PG Investment Co. 59 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.913%, 3M TSFR + 2.750%, 03/26/31 | 1386833 | &nbsp;&nbsp;&nbsp; 1393334 |
| Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.129%, 6M TSFR + 2.000%, <br> 10/13/30<br>| 915767 | &nbsp;&nbsp;&nbsp; 914950 |
| Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 11/19/31 (b) | 138411 | &nbsp;&nbsp;&nbsp; 138606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.163%, 1M TSFR + 3.000%, 11/19/31 | 1928069 | &nbsp;&nbsp;&nbsp; 1930780 |
| SCUR-Alpha 1503 GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B1, 9.808%, 3M TSFR + 5.500%, 03/29/30 | 1296161 | &nbsp;&nbsp;&nbsp; 1195709 |
| Shift4 Payments LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.502%, 3M TSFR + 2.750%, 06/30/32 | 225000 | &nbsp;&nbsp;&nbsp; 227109 |
| Spin Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.393%, 3M TSFR + 4.000%, 03/04/28 | 2042354 | &nbsp;&nbsp;&nbsp; 1725152 |
| Spring Education Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.252%, 3M TSFR + 3.250%, 10/04/30 | 343875 | &nbsp;&nbsp;&nbsp; 345738 |
| Stepstone Group MidCo 2 GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 8.608%, 3M TSFR + 4.500%, 12/19/31 | 748125 | &nbsp;&nbsp;&nbsp; 714459 |
| TMF Group Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.036%, 3M TSFR + 2.750%, <br> 05/03/28<br>| 393040 | &nbsp;&nbsp;&nbsp; 394023 |
| Trans Union LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B9, 5.913%, 1M TSFR + 1.750%, 06/24/31 | 1625940 | &nbsp;&nbsp;&nbsp; 1627100 |
| TTF Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.794%, 6M TSFR + 3.750%, 07/18/31 | 293726 | &nbsp;&nbsp;&nbsp; 279039 |
| Vaco Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan, 9.152%, 3M TSFR + 5.000%, 01/21/29 | 728471 | &nbsp;&nbsp;&nbsp; 628913 |
| Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 01/30/31<br>| 1651593 | &nbsp;&nbsp;&nbsp; 1647335 |
| WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 5.913%, 1M TSFR + 1.750%, 03/31/28 | 915087 | &nbsp;&nbsp;&nbsp; 914992 |
|  |  | &nbsp;&nbsp;&nbsp; 50610871 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Computers — 3.0%** | **Computers — 3.0%** | **Computers — 3.0%** |
| Clover Holdings 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.942%, 1M TSFR + 3.750%, 12/09/31 | 2244375 | &nbsp;&nbsp;&nbsp; $2248116 |
| Foundever Worldwide Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD Term Loan, 8.028%, 1M TSFR + 3.750%, 08/28/28 | 1495169 | &nbsp;&nbsp;&nbsp; 765526 |
| Imprivata, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.002%, 3M TSFR + 3.000%, 12/01/27 | 2043273 | &nbsp;&nbsp;&nbsp; 2054000 |
| McAfee LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD 1st Lien Term Loan B, 7.223%, 1M TSFR + 3.000%, <br> 03/01/29<br>| 1484193 | &nbsp;&nbsp;&nbsp; 1422351 |
| NCR Atleos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.026%, 3M TSFR + 3.000%, 04/16/29 | 992000 | &nbsp;&nbsp;&nbsp; 994790 |
| Nielsen Consumer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD 1st Lien Term Loan, 6.663%, 1M TSFR + 2.500%, <br> 10/31/30<br>| 1122187 | &nbsp;&nbsp;&nbsp; 1120785 |
| Synechron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.058%, 3M TSFR + 3.750%, 10/03/31 | 870625 | &nbsp;&nbsp;&nbsp; 869537 |
| Tempo Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 5.913%, 1M TSFR + 1.750%, <br> 08/31/28<br>| 1228455 | &nbsp;&nbsp;&nbsp; 1204269 |
| Verifone Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 9.820%, 3M TSFR + 5.250%, 08/18/28 | 587694 | &nbsp;&nbsp;&nbsp; 569769 |
| Veritas U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Priority Term Loan, 12.002%, 3M TSFR + 8.000%, <br> 4.500% PIK, 12/09/29 (e)<br>| 496084 | &nbsp;&nbsp;&nbsp; 503526 |
| Vision Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Incremental Term Loan, 8.570%, 3M TSFR + 4.000%, <br> 04/24/28<br>| 1413005 | &nbsp;&nbsp;&nbsp; 1365905 |
| X Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 10.958%, 3M TSFR + 6.500%, 10/26/29 | 2701246 | &nbsp;&nbsp;&nbsp; 2653974 |
|  |  | &nbsp;&nbsp;&nbsp; 15772548 |
| **Cosmetics/Personal Care — 0.8%** | **Cosmetics/Personal Care — 0.8%** | **Cosmetics/Personal Care — 0.8%** |
| Conair Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.028%, 1M TSFR + 3.750%, 05/17/28 | 1879734 | &nbsp;&nbsp;&nbsp; 1195981 |
| Journey Personal Care Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.913%, 1M TSFR + 3.750%, 03/01/28 | 1018760 | &nbsp;&nbsp;&nbsp; 1013029 |
| Opal Bidco SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 04/28/32 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2008750 |
|  |  | &nbsp;&nbsp;&nbsp; 4217760 |
| **Distribution/Wholesale — 2.0%** | **Distribution/Wholesale — 2.0%** | **Distribution/Wholesale — 2.0%** |
| Core & Main LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, 6.166%, 1M TSFR + 2.000%, 07/27/28 | 1904982 | &nbsp;&nbsp;&nbsp; 1910339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan E, 6.166%, 1M TSFR + 2.000%, 02/09/31 | 592709 | &nbsp;&nbsp;&nbsp; 592893 |
| Gates Global LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, 5.913%, 1M TSFR + 1.750%, 06/04/31 | 2272025 | &nbsp;&nbsp;&nbsp; 2271671 |
| Gloves Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 8.163%, 1M TSFR + 4.000%, 05/21/32 | 1950000 | &nbsp;&nbsp;&nbsp; 1898812 |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan, 7.002%, 3M TSFR + 3.000%, 06/20/31 | 2619508 | &nbsp;&nbsp;&nbsp; 2596860 |
| Windsor Holdings III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.916%, 1M TSFR + 2.750%, <br> 08/01/30<br>| 1176479 | &nbsp;&nbsp;&nbsp; 1176479 |
|  |  | &nbsp;&nbsp;&nbsp; 10447054 |

---

**BHFTI-100**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Diversified Financial Services — 5.3%** | **Diversified Financial Services — 5.3%** | **Diversified Financial Services — 5.3%** |
| Accelya Lux Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/05/32 (d) | 711000 | &nbsp;&nbsp;&nbsp; $700335 |
| Advisor Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 7.163%, 1M TSFR + 3.000%, 07/30/32 | 882897 | &nbsp;&nbsp;&nbsp; 883529 |
| Allspring Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 11/01/30 (d) | 1300000 | &nbsp;&nbsp;&nbsp; 1303792 |
| Aretec Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 7.663%, 1M TSFR + 3.500%, <br> 08/09/30<br>| 2302471 | &nbsp;&nbsp;&nbsp; 2305080 |
| Astra Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 New Money Term Loan A, 02/25/28 (f) | 674962 | &nbsp;&nbsp;&nbsp; 187864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 10/25/28 (f) | 948151 | &nbsp;&nbsp;&nbsp; 14270 |
| Avolon TLB Borrower 1 U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B6, 5.885%, 1M TSFR + 1.750%, 06/24/30 | 1030052 | &nbsp;&nbsp;&nbsp; 1031867 |
| Citco Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.806%, 3M TSFR + 2.750%, 04/27/28 | 759552 | &nbsp;&nbsp;&nbsp; 762242 |
| CPI Holdco B LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 6.163%, 1M TSFR + 2.000%, 05/19/31 | 2202750 | &nbsp;&nbsp;&nbsp; 2202578 |
| Edelman Financial Center LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.163%, 1M TSFR + 3.000%, 04/07/28 | 1683647 | &nbsp;&nbsp;&nbsp; 1686410 |
| Fiserv Investment Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan B, 8.204%, 3M TSFR + 4.000%, 02/18/27 | 473750 | &nbsp;&nbsp;&nbsp; 471973 |
| Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 09/15/31<br>| 2462638 | &nbsp;&nbsp;&nbsp; 2465472 |
| Guggenheim Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.502%, 3M TSFR + 2.500%, 11/26/31 | 2919284 | &nbsp;&nbsp;&nbsp; 2932056 |
| HighTower Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan B, 7.071%, 3M TSFR + 2.750%, <br> 02/03/32<br>| 2216943 | &nbsp;&nbsp;&nbsp; 2216943 |
| Kestra Advisor Services Holdings A, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Repriced Term Loan, 7.163%, 1M TSFR + 3.000%, <br> 03/22/31<br>| 818345 | &nbsp;&nbsp;&nbsp; 819522 |
| Mariner Wealth Advisors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.502%, 3M TSFR + 2.500%, 12/31/30 | 1506108 | &nbsp;&nbsp;&nbsp; 1512069 |
| Mermaid Bidco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 7.571%, 3M TSFR + 3.250%, <br> 07/03/31<br>| 1988552 | &nbsp;&nbsp;&nbsp; 1988553 |
| OID-OL Intermediate I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan 1, 10.308%, 3M TSFR + 6.000%, 02/01/29 | 109739 | &nbsp;&nbsp;&nbsp; 113625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan 2, 8.708%, 3M TSFR + 4.250%, 02/01/29 | 449604 | &nbsp;&nbsp;&nbsp; 377667 |
| Orion Advisor Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 7.569%, 3M TSFR + 3.250%, <br> 09/24/30<br>| 618762 | &nbsp;&nbsp;&nbsp; 621565 |
| Orion U.S. Finco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1st Lien Term Loan, 05/20/32 (d) | 675000 | &nbsp;&nbsp;&nbsp; 679149 |
| Pretzel Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.663%, 1M TSFR + 4.500%, 10/01/31 | 970125 | &nbsp;&nbsp;&nbsp; 971338 |
| Saphilux SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Repriced Term Loan, 07/18/28 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1004375 |
| Victory Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 09/11/32 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 998958 |
|  |  | &nbsp;&nbsp;&nbsp; 28251232 |
| **Electric — 2.0%** | **Electric — 2.0%** | **Electric — 2.0%** |
| Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, 5.913%, 1M TSFR + 1.750%, 02/15/32 | 1424263 | &nbsp;&nbsp;&nbsp; 1424396 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Invenergy Thermal Operating I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.734%, 3M TSFR + 3.500%, 05/17/32 | 1244412 | &nbsp;&nbsp;&nbsp; $1256337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan C, 7.740%, 3M TSFR + 3.500%, 05/17/32 | 89062 | &nbsp;&nbsp;&nbsp; 89953 |
| Kohler Energy Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 7.752%, 3M TSFR + 3.750%, 05/01/31 | 2129581 | &nbsp;&nbsp;&nbsp; 2135569 |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.252%, 3M TSFR + 2.250%, 08/18/31 | 1980000 | &nbsp;&nbsp;&nbsp; 1980707 |
| MRP Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 7.252%, 3M TSFR + 3.250%, <br> 06/04/32 (b)<br>| 220161 | &nbsp;&nbsp;&nbsp; 216859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.252%, 3M TSFR + 3.250%, 06/04/32 | 1729839 | &nbsp;&nbsp;&nbsp; 1703891 |
| Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024-1 Incremental Term Loan, 6.733%, 3M TSFR + 2.500%, <br> 12/15/31<br>| 1985000 | &nbsp;&nbsp;&nbsp; 1990459 |
|  |  | &nbsp;&nbsp;&nbsp; 10798171 |
| **Electrical Components & Equipment — 0.7%** | **Electrical Components & Equipment — 0.7%** | **Electrical Components & Equipment — 0.7%** |
| Creation Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 10.047%, 3M TSFR + 5.500%, 10/05/28 | 1064250 | &nbsp;&nbsp;&nbsp; 1057599 |
| Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.135%, 1M TSFR + 2.000%, 03/19/32 | 1745625 | &nbsp;&nbsp;&nbsp; 1749989 |
| Range Red Operating, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First Out Term Loan, 12.401%, 3M TSFR + 8.000%, 10/01/29 <br> (g) (h)<br>| 197753 | &nbsp;&nbsp;&nbsp; 199414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Second Out Term Loan, 12.401%, 3M TSFR + 8.000%, <br> 10/01/29 (g) (h)<br>| 829545 | &nbsp;&nbsp;&nbsp; 836513 |
|  |  | &nbsp;&nbsp;&nbsp; 3843515 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| LSF12 Crown U.S. Commercial Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.663%, 1M TSFR + 3.500%, 12/02/31 | 2044875 | &nbsp;&nbsp;&nbsp; 2050413 |
| MV Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.413%, 1M TSFR + 2.250%, <br> 03/17/32<br>| 573563 | &nbsp;&nbsp;&nbsp; 574996 |
| Spectris PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan, 09/24/32 (d) | 400000 | &nbsp;&nbsp;&nbsp; 401250 |
| TTM Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.530%, 1M TSFR + 2.250%, 05/30/30 | 514552 | &nbsp;&nbsp;&nbsp; 517447 |
|  |  | &nbsp;&nbsp;&nbsp; 3544106 |
| **Engineering & Construction — 2.0%** | **Engineering & Construction — 2.0%** | **Engineering & Construction — 2.0%** |
| Apple Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.663%, 1M TSFR + 2.500%, 09/23/31 | 2148337 | &nbsp;&nbsp;&nbsp; 2150638 |
| Artera Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 8.502%, 3M TSFR + 4.500%, 02/15/31 | 418625 | &nbsp;&nbsp;&nbsp; 377024 |
| Azuria Water Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, 05/17/28 (b) | 61688 | &nbsp;&nbsp;&nbsp; 61804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.163%, 1M TSFR + 3.000%, 05/17/28 | 867745 | &nbsp;&nbsp;&nbsp; 869372 |
| Brown Group Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan B2, 6.913% - 7.058%, 1M TSFR <br> + 2.750%, 3M TSFR + 2.750%, 07/01/31 (c)<br>| 2100673 | &nbsp;&nbsp;&nbsp; 2107666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.663%, 1M TSFR + 2.500%, 07/01/31 | 1298417 | &nbsp;&nbsp;&nbsp; 1300581 |
| Construction Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.663%, 1M TSFR + 2.500%, 11/03/31 | 521063 | &nbsp;&nbsp;&nbsp; 522691 |
| Cube Industrials Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.582%, 3M TSFR + 3.250%, 10/17/31 | 1019875 | &nbsp;&nbsp;&nbsp; 1024656 |

---

**BHFTI-101**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Engineering & Construction—(Continued)** | **Engineering & Construction—(Continued)** | **Engineering & Construction—(Continued)** |
| Green Infrastructure Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 6.748%, 3M TSFR + 2.750%, 09/24/32 | 900000 | &nbsp;&nbsp;&nbsp; $901971 |
| Newly Weds Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.386%, 1M TSFR + 2.250%, 03/15/32 | 1122187 | &nbsp;&nbsp;&nbsp; 1124993 |
|  |  | &nbsp;&nbsp;&nbsp; 10441396 |
| **Entertainment — 3.8%** | **Entertainment — 3.8%** | **Entertainment — 3.8%** |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 6.413%, 1M TSFR + 2.250%, 02/06/31 | 2782625 | &nbsp;&nbsp;&nbsp; 2780190 |
| City Football Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.663% - 7.778%, 1M TSFR + 3.500%, <br> 07/22/30 (c)<br>| 1399658 | &nbsp;&nbsp;&nbsp; 1401407 |
| EOC Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.163%, 1M TSFR + 3.000%, 03/24/32 | 2995000 | &nbsp;&nbsp;&nbsp; 3000149 |
| Flutter Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 5.752%, 3M TSFR + 1.750%, 11/30/30 | 1618382 | &nbsp;&nbsp;&nbsp; 1615854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.002%, 3M TSFR + 2.000%, 06/04/32 | 947625 | &nbsp;&nbsp;&nbsp; 947329 |
| GVC Holdings Gibraltar Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B5 (2032), 07/31/32 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 999625 |
| Herschend Entertainment Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.413%, 1M TSFR + 3.250%, 05/27/32 | 724063 | &nbsp;&nbsp;&nbsp; 728286 |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 6.393%, 1M TSFR + 2.250%, 04/14/29 | 1960125 | &nbsp;&nbsp;&nbsp; 1947874 |
| Ontario Gaming GTA LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.240%, 3M TSFR + 4.250%, 08/01/30 | 1101321 | &nbsp;&nbsp;&nbsp; 1077230 |
| Scientific Games Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 7.286%, 3M TSFR + 3.000%, <br> 04/04/29<br>| 1160380 | &nbsp;&nbsp;&nbsp; 1152403 |
| SeaWorld Parks & Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B3, 6.163%, 1M TSFR + 2.000%, 12/04/31 | 633128 | &nbsp;&nbsp;&nbsp; 633524 |
| TKO Worldwide Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.038%, 3M TSFR + 2.000%, 11/21/31 | 1374063 | &nbsp;&nbsp;&nbsp; 1377631 |
| Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.752%, 3M TSFR + 4.750%, 07/01/32 | 2400000 | &nbsp;&nbsp;&nbsp; 2407918 |
|  |  | &nbsp;&nbsp;&nbsp; 20069420 |
| **Environmental Control — 2.6%** | **Environmental Control — 2.6%** | **Environmental Control — 2.6%** |
| EnergySolutions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 7.413%, 1M TSFR + 3.250%, 09/20/30 | 778669 | &nbsp;&nbsp;&nbsp; 784995 |
| Filtration Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 6.913%, 1M TSFR + 2.750%, 10/21/28 | 1496077 | &nbsp;&nbsp;&nbsp; 1505116 |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.671%, 3M TSFR + 2.500%, 03/03/32 | 1900000 | &nbsp;&nbsp;&nbsp; 1902770 |
| Heritage-Crystal Clean, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.885%, 1M TSFR + 3.750%, 10/17/30 | 2167668 | &nbsp;&nbsp;&nbsp; 2180317 |
| Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 6.702%, 6M TSFR + 2.500%, 06/21/28 | 1952159 | &nbsp;&nbsp;&nbsp; 1956431 |
| Northstar Group Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.881%, 6M TSFR + 4.750%, 05/31/30 | 2075243 | &nbsp;&nbsp;&nbsp; 2093401 |
| Reworld Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.385%, 1M TSFR + 2.250%, 11/30/28 | 491689 | &nbsp;&nbsp;&nbsp; 492509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan C, 6.385%, 1M TSFR + 2.250%, 11/30/28 | 27139 | &nbsp;&nbsp;&nbsp; 27184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.386%, 1M TSFR + 2.250%, 11/30/28 | 1791749 | &nbsp;&nbsp;&nbsp; 1795109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan C, 6.386%, 1M TSFR + 2.250%, 11/30/28 | 138695 | &nbsp;&nbsp;&nbsp; 138955 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Environmental Control—(Continued)** | **Environmental Control—(Continued)** | **Environmental Control—(Continued)** |
| Tidal Waste & Recycling Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.002%, 3M TSFR + 3.000%, 10/24/31 | 1119375 | &nbsp;&nbsp;&nbsp; $1127306 |
|  |  | &nbsp;&nbsp;&nbsp; 14004093 |
| **Food — 0.7%** | **Food — 0.7%** | **Food — 0.7%** |
| Cardenas Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan, 10.852%, 3M TSFR + 6.750%, 08/01/29 | 414322 | &nbsp;&nbsp;&nbsp; 352691 |
| Del Monte Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 First Out Term Loan, 08/02/28 (f) | 263178 | &nbsp;&nbsp;&nbsp; 134879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Second Out Term Loan, 08/02/28 (f) | 1858597 | &nbsp;&nbsp;&nbsp; 101061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 DIP Term Loan, 13.774%, 1M TSFR + 9.500%, <br> 04/02/26<br>| 907461 | &nbsp;&nbsp;&nbsp; 875700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 PIK Roll-Up Term Loan, 13.750% - 13.774%, 1M TSFR + <br> 9.500% - 9.600%, 04/02/26 (c)<br>| 1226788 | &nbsp;&nbsp;&nbsp; 1024368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 PIK Term Loan, 08/02/28 (f) | 233925 | &nbsp;&nbsp;&nbsp; 120033 |
| Nomad Foods U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B5, 6.535%, 6M TSFR + 2.500%, 11/12/29 | 1270749 | &nbsp;&nbsp;&nbsp; 1273530 |
|  |  | &nbsp;&nbsp;&nbsp; 3882262 |
| **Food Service — 0.2%** | **Food Service — 0.2%** | **Food Service — 0.2%** |
| Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, 6.163% - 6.199%, 1M TSFR + 2.000%, <br> 3M TSFR + 2.000%, 06/22/30 (c)<br>| 509422 | &nbsp;&nbsp;&nbsp; 511969 |
| Gategroup Finance Luxembourg SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 06/10/32 (d) | 500000 | &nbsp;&nbsp;&nbsp; 500156 |
| Golden State Foods LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 12/04/31 (d) | 250000 | &nbsp;&nbsp;&nbsp; 251000 |
|  |  | &nbsp;&nbsp;&nbsp; 1263125 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| Spa Holdings 3 OYJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 05/23/30 (d) | 500000 | &nbsp;&nbsp;&nbsp; 501250 |
| **Hand/Machine Tools — 0.7%** | **Hand/Machine Tools — 0.7%** | **Hand/Machine Tools — 0.7%** |
| Apex Tool Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Super Priority 2nd Out Term Loan A, 9.708%, 3M TSFR + <br> 5.250%, 02/08/29<br>| 420506 | &nbsp;&nbsp;&nbsp; 350071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Super Priority 3rd Out Term Loan B, 7.500%, 3M TSFR + <br> 7.500%, 6.960% PIK, 02/08/30 (e)<br>| 1001100 | &nbsp;&nbsp;&nbsp; 745820 |
| Dynamo Newco II GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 7.780%, 1M TSFR + 3.500%, 09/30/31 | 1485000 | &nbsp;&nbsp;&nbsp; 1491497 |
| Madison Safety & Flow LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.913%, 1M TSFR + 2.750%, 09/26/31 | 1260654 | &nbsp;&nbsp;&nbsp; 1264375 |
|  |  | &nbsp;&nbsp;&nbsp; 3851763 |
| **Healthcare-Products — 1.2%** | **Healthcare-Products — 1.2%** | **Healthcare-Products — 1.2%** |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B6, 6.263%, 1M TSFR + 2.000%, 11/08/27 | 64173 | &nbsp;&nbsp;&nbsp; 64508 |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.413%, 1M TSFR + 4.250%, 01/15/31 | 1452657 | &nbsp;&nbsp;&nbsp; 1456289 |
| Hanger, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan, 7.663%, 1M TSFR + 3.500%, <br> 10/23/31 (b)<br>| 148178 | &nbsp;&nbsp;&nbsp; 148678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.663%, 1M TSFR + 3.500%, 10/23/31 | 1145953 | &nbsp;&nbsp;&nbsp; 1149820 |

---

**BHFTI-102**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Products—(Continued)** | **Healthcare-Products—(Continued)** | **Healthcare-Products—(Continued)** |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.163%, 1M TSFR + 2.000%, 10/23/28 | 3491250 | &nbsp;&nbsp;&nbsp; $3495010 |
|  |  | &nbsp;&nbsp;&nbsp; 6314305 |
| **Healthcare-Services — 3.6%** | **Healthcare-Services — 3.6%** | **Healthcare-Services — 3.6%** |
| Cano Health LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Exit Term Loan, 13.502%, 3M TSFR + 9.500%, <br> 06/28/29<br>| 590152 | &nbsp;&nbsp;&nbsp; 486876 |
| Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.163%, 1M TSFR + 2.000%, <br> 07/26/31<br>| 372192 | &nbsp;&nbsp;&nbsp; 374518 |
| Electron BidCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 6.913%, 1M TSFR + 2.750%, 11/01/28 | 1619984 | &nbsp;&nbsp;&nbsp; 1624613 |
| Global Medical Response, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 10/01/32 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1001500 |
| Heartland Dental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 7.913%, 1M TSFR + 3.750%, 08/25/32 | 1122188 | &nbsp;&nbsp;&nbsp; 1121749 |
| ICON Luxembourg SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 LUX Term Loan B, 6.002%, 3M TSFR + 2.000%, <br> 07/03/28<br>| 53658 | &nbsp;&nbsp;&nbsp; 53904 |
| Loire Finco Luxembourg SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 8.308%, 3M TSFR + 4.000%, <br> 01/21/30<br>| 285351 | &nbsp;&nbsp;&nbsp; 286243 |
| MDVIP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.885%, 1M TSFR + 2.750%, 10/14/31 | 723875 | &nbsp;&nbsp;&nbsp; 726740 |
| MED ParentCo LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.413%, 1M TSFR + 3.250%, 04/15/31 | 1296750 | &nbsp;&nbsp;&nbsp; 1300154 |
| Midwest Physician Administrative Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 7.263%, 3M TSFR + 3.000%, 03/12/28 | 702323 | &nbsp;&nbsp;&nbsp; 653745 |
| National Mentor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 7.852% - 8.013%, 1M TSFR + 3.750%, 3M <br> TSFR + 3.750%, 03/02/28 (c)<br>| 1102560 | &nbsp;&nbsp;&nbsp; 1100147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan C, 7.852%, 3M TSFR + 3.750%, 03/02/28 | 31925 | &nbsp;&nbsp;&nbsp; 31855 |
| Pacific Dental Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.643%, 1M TSFR + 2.500%, 03/15/31 | 2317243 | &nbsp;&nbsp;&nbsp; 2320139 |
| Parexel International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.663%, 1M TSFR + 2.500%, 11/15/28 | 387437 | &nbsp;&nbsp;&nbsp; 388129 |
| Phoenix Guarantor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.663%, 1M TSFR + 2.500%, 02/21/31 | 1585930 | &nbsp;&nbsp;&nbsp; 1588706 |
| PRA Health Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 US Term Loan B, 6.002%, 3M TSFR + 2.000%, <br> 07/03/28<br>| 13369 | &nbsp;&nbsp;&nbsp; 13425 |
| Radnet Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.448%, 3M TSFR + 2.250%, <br> 04/18/31<br>| 1234375 | &nbsp;&nbsp;&nbsp; 1237130 |
| Sotera Health Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.663%, 1M TSFR + 2.500%, 05/30/31 | 2357024 | &nbsp;&nbsp;&nbsp; 2365863 |
| Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.663%, 1M TSFR + 2.500%, 12/19/30 | 1218046 | &nbsp;&nbsp;&nbsp; 1220414 |
| U.S. Anesthesia Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 10/01/28 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 999464 |
|  |  | &nbsp;&nbsp;&nbsp; 18895314 |
| **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** |
| Emerald X, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B1, 7.413%, 1M TSFR + 3.250%, 01/30/32 | 199500 | &nbsp;&nbsp;&nbsp; 200912 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Lippert Colipper |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.408%, 3M TSFR + 2.250%, 03/25/32 | 323377 | &nbsp;&nbsp;&nbsp; $324994 |
| **Home Furnishings — 0.6%** | **Home Furnishings — 0.6%** | **Home Furnishings — 0.6%** |
| AI Aqua Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 7.280%, 1M TSFR + 3.000%, <br> 07/31/28<br>| 3185812 | &nbsp;&nbsp;&nbsp; 3196338 |
| **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** |
| Kronos Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 8.002%, 3M TSFR + 4.000%, 07/08/31 | 1407384 | &nbsp;&nbsp;&nbsp; 1044982 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| Libbey Glass, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan, 10.964%, 3M TSFR + 6.500%, 11/22/27 | 523365 | &nbsp;&nbsp;&nbsp; 506791 |
| **Insurance — 5.9%** | **Insurance — 5.9%** | **Insurance — 5.9%** |
| Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B6, 7.163%, 1M TSFR + 3.000%, <br> 11/06/30<br>| 1740616 | &nbsp;&nbsp;&nbsp; 1740254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.413%, 1M TSFR + 3.250%, 06/21/32 | 997500 | &nbsp;&nbsp;&nbsp; 998747 |
| Alera Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 7.413%, 1M TSFR + 3.250%, 05/31/32 | 1725000 | &nbsp;&nbsp;&nbsp; 1733026 |
| Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.666%, 1M TSFR + 2.500%, 09/19/31 | 1517937 | &nbsp;&nbsp;&nbsp; 1515480 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.252%, 3M TSFR + 2.250%, 01/30/32 | 4812427 | &nbsp;&nbsp;&nbsp; 4814231 |
| Asurion LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan B3, 9.528%, 1M TSFR + 5.250%, <br> 01/31/28<br>| 1160000 | &nbsp;&nbsp;&nbsp; 1134141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B12, 8.413%, 1M TSFR + 4.250%, 09/19/30 | 2670207 | &nbsp;&nbsp;&nbsp; 2663531 |
| Broadstreet Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 6.913%, 1M TSFR + 2.750%, 06/13/31 | 2672761 | &nbsp;&nbsp;&nbsp; 2678144 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.575%, 3M TSFR + 2.250%, 06/20/30 | 2985777 | &nbsp;&nbsp;&nbsp; 2993516 |
| IMA Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.163%, 1M TSFR + 3.000%, 11/01/28 | 895477 | &nbsp;&nbsp;&nbsp; 896736 |
| Ryan Specialty Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 6.163%, 1M TSFR + 2.000%, <br> 09/15/31<br>| 1240625 | &nbsp;&nbsp;&nbsp; 1244760 |
| Sedgwick Claims Management Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 6.663%, 1M TSFR + 2.500%, 07/31/31 | 3017435 | &nbsp;&nbsp;&nbsp; 3016681 |
| Trucordia Insurance Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.413%, 1M TSFR + 3.250%, 06/17/32 | 1800000 | &nbsp;&nbsp;&nbsp; 1806750 |
| USI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan C, 6.252%, 3M TSFR + 2.250%, 09/29/30 | 1965162 | &nbsp;&nbsp;&nbsp; 1964426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, 6.252%, 3M TSFR + 2.250%, 11/21/29 | 2114667 | &nbsp;&nbsp;&nbsp; 2113874 |
|  |  | &nbsp;&nbsp;&nbsp; 31314297 |
| **Internet — 1.1%** | **Internet — 1.1%** | **Internet — 1.1%** |
| CNT Holdings I Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.558%, 3M TSFR + 2.250%, 11/08/32 | 1117675 | &nbsp;&nbsp;&nbsp; 1118329 |
| Endure Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 CoOp Term Loan, 7.838%, 1M TSFR + 3.500%, <br> 02/10/28<br>| 2462024 | &nbsp;&nbsp;&nbsp; 1804972 |
| Go Daddy Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B7, 5.913%, 1M TSFR + 1.750%, 05/30/31 | 1169879 | &nbsp;&nbsp;&nbsp; 1169148 |

---

**BHFTI-103**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Internet—(Continued)** | **Internet—(Continued)** | **Internet—(Continued)** |
| Go Daddy Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, 5.913%, 1M TSFR + 1.750%, 11/09/29 | 144593 | &nbsp;&nbsp;&nbsp; $144546 |
| Plano HoldCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.502%, 3M TSFR + 3.500%, 10/02/31 | 597000 | &nbsp;&nbsp;&nbsp; 579090 |
| Speedster Bidco GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 7.240%, 3M TSFR + 3.250%, <br> 12/10/31<br>| 845755 | &nbsp;&nbsp;&nbsp; 849059 |
|  |  | &nbsp;&nbsp;&nbsp; 5665144 |
| **Investment Companies — 1.5%** | **Investment Companies — 1.5%** | **Investment Companies — 1.5%** |
| AAL Delaware Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.913%, 1M TSFR + 2.750%, 07/30/31 | 1416192 | &nbsp;&nbsp;&nbsp; 1422387 |
| Anuvu Holdings 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Senior Priority Term Loan, 12.126%, 3M TSFR + 8.000%, <br> 09/27/27 (g) (h)<br>| 165641 | &nbsp;&nbsp;&nbsp; 165641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Senior Takeback Term Loan, 12.376%, 3M TSFR + <br> 8.250%, 03/23/26 (g) (h)<br>| 445875 | &nbsp;&nbsp;&nbsp; 8204 |
| Aragorn Parent Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 7.663%, 1M TSFR + 3.500%, <br> 12/15/28<br>| 822607 | &nbsp;&nbsp;&nbsp; 829291 |
| Dragon Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.752%, 3M TSFR + 2.750%, 09/30/31 | 1389500 | &nbsp;&nbsp;&nbsp; 1392759 |
| EIG Management Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 9.166%, 1M TSFR + 5.000%, 05/17/29 | 402321 | &nbsp;&nbsp;&nbsp; 402321 |
| FinCo I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 5.913%, 1M TSFR + 1.750%, <br> 06/27/29<br>| 1249635 | &nbsp;&nbsp;&nbsp; 1248542 |
| HDI Aerospace Intermediate Holding III Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.828%, 3M TSFR + 4.500%, 02/11/32 | 646750 | &nbsp;&nbsp;&nbsp; 648771 |
| Nexus Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan, 07/31/31 (d) | 750000 | &nbsp;&nbsp;&nbsp; 750117 |
| Nvent Electric PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.155%, 1M TSFR + 3.000%, 01/30/32 | 1125000 | &nbsp;&nbsp;&nbsp; 1130859 |
|  |  | &nbsp;&nbsp;&nbsp; 7998892 |
| **Leisure Time — 1.7%** | **Leisure Time — 1.7%** | **Leisure Time — 1.7%** |
| Bombardier Recreational Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 01/22/31 (d) | 275000 | &nbsp;&nbsp;&nbsp; 275580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 6.913%, 1M TSFR + 2.750%, 01/22/31 | 486446 | &nbsp;&nbsp;&nbsp; 487930 |
| GSM Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 9.002%, 3M TSFR + 5.000%, 09/30/31 | 990000 | &nbsp;&nbsp;&nbsp; 977934 |
| Hayward Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 6.778%, 1M TSFR + 2.500%, 05/30/28 | 1492051 | &nbsp;&nbsp;&nbsp; 1495594 |
| Horizon U.S. Finco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.808%, 3M TSFR + 4.500%, 10/31/31 | 1215973 | &nbsp;&nbsp;&nbsp; 1193174 |
| MajorDrive Holdings IV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan B, 9.652%, 3M TSFR + 5.500%, <br> 06/01/29<br>| 488607 | &nbsp;&nbsp;&nbsp; 480057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.263%, 3M TSFR + 4.000%, 06/01/28 | 1074249 | &nbsp;&nbsp;&nbsp; 1049272 |
| Recess Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 8.069%, 3M TSFR + 3.750%, <br> 02/20/30<br>| 1999273 | &nbsp;&nbsp;&nbsp; 2009269 |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 1st Lien Term Loan B, 9.263%, 1M TSFR + 5.000%, <br> 06/30/28<br>| 129311 | &nbsp;&nbsp;&nbsp; 122523 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Leisure Time—(Continued)** | **Leisure Time—(Continued)** | **Leisure Time—(Continued)** |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 10.263%, 1M TSFR + 6.000%, 11/15/29 | 722263 | &nbsp;&nbsp;&nbsp; $683441 |
|  |  | &nbsp;&nbsp;&nbsp; 8774774 |
| **Lodging — 1.0%** | **Lodging — 1.0%** | **Lodging — 1.0%** |
| Fertitta Entertainment LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 7.413%, 1M TSFR + 3.250%, 01/27/29 | 2878638 | &nbsp;&nbsp;&nbsp; 2877377 |
| Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.163%, 1M TSFR + 2.000%, 03/14/31 | 1428250 | &nbsp;&nbsp;&nbsp; 1430147 |
| Turquoise Topco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 08/13/32 (d) | 1025000 | &nbsp;&nbsp;&nbsp; 1027562 |
|  |  | &nbsp;&nbsp;&nbsp; 5335086 |
| **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** |
| WEC U.S. Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 6.530%, 1M TSFR + 2.250%, 01/27/31 | 3458513 | &nbsp;&nbsp;&nbsp; 3464157 |
| **Machinery-Diversified — 2.3%** | **Machinery-Diversified — 2.3%** | **Machinery-Diversified — 2.3%** |
| CD&R Hydra Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.263%, 1M TSFR + 4.000%, 03/25/31 | 861875 | &nbsp;&nbsp;&nbsp; 857386 |
| CPM Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 8.780%, 1M TSFR + 4.500%, 09/28/28 | 2165792 | &nbsp;&nbsp;&nbsp; 2163085 |
| Crown Equipment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.530%, 1M TSFR + 2.250%, 10/10/31 | 1044750 | &nbsp;&nbsp;&nbsp; 1048668 |
| DXP Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.913%, 1M TSFR + 3.750%, 10/11/30 | 686070 | &nbsp;&nbsp;&nbsp; 690787 |
| Engineered Machinery Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD Incremental Term Loan, 7.763%, 3M TSFR + <br> 3.500%, 05/19/28<br>| 2466901 | &nbsp;&nbsp;&nbsp; 2482832 |
| Roper Industrial Products Investment Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD 1st Lien Term Loan B, 6.752%, 3M TSFR + 2.750%, <br> 11/22/29<br>| 966825 | &nbsp;&nbsp;&nbsp; 969342 |
| SPX Flow, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.913%, 1M TSFR + 2.750%, 04/05/29 | 1086375 | &nbsp;&nbsp;&nbsp; 1092486 |
| TK Elevator Midco GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.197%, 6M TSFR + 3.000%, <br> 04/30/30<br>| 2780925 | &nbsp;&nbsp;&nbsp; 2790789 |
|  |  | &nbsp;&nbsp;&nbsp; 12095375 |
| **Media — 0.7%** | **Media — 0.7%** | **Media — 0.7%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, 6.541%, 3M TSFR + 2.250%, 12/15/31 | 570688 | &nbsp;&nbsp;&nbsp; 571133 |
| Gray Television, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan D, 7.395%, 1M TSFR + 3.000%, 12/01/28 | 556731 | &nbsp;&nbsp;&nbsp; 557389 |
| Hubbard Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 PIK Term Loan B, 8.663%, 1M TSFR + 4.500%, <br> 09/30/27<br>| 366277 | &nbsp;&nbsp;&nbsp; 201452 |
| Mission Broadcasting, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 6.895%, 1M TSFR + 2.500%, 06/02/28 | 384000 | &nbsp;&nbsp;&nbsp; 383880 |
| Virgin Media Bristol LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 USD Term Loan Q, 7.515%, 1M TSFR + 3.250%, <br> 01/31/29<br>| 1125000 | &nbsp;&nbsp;&nbsp; 1125832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan Y4, 7.593%, 3M TSFR + 3.175%, 03/31/31 | 850000 | &nbsp;&nbsp;&nbsp; 839375 |
|  |  | &nbsp;&nbsp;&nbsp; 3679061 |

---

**BHFTI-104**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Metal Fabricate/Hardware — 0.7%** | **Metal Fabricate/Hardware — 0.7%** | **Metal Fabricate/Hardware — 0.7%** |
| Ameriforge Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 PIK Class A Delayed Draw Term Loan, 4.280%, 1M TSFR <br> + 0.000%, 11.00% PIK, 12/31/25 (e) (g) (h)<br>| 137445 | &nbsp;&nbsp;&nbsp; $18280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 PIK Class A Initial Term Loan, 4.280%, 1M TSFR + <br> 0.000%, 11.00% PIK, 12/31/25 (e) (g) (h)<br>| 1190200 | &nbsp;&nbsp;&nbsp; 158297 |
| WireCo WorldGroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 8.082%, 3M TSFR + 3.750%, 11/13/28 | 472228 | &nbsp;&nbsp;&nbsp; 456880 |
| Zekelman Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.408%, 1M TSFR + 2.250%, 01/24/31 | 3009193 | &nbsp;&nbsp;&nbsp; 3017468 |
|  |  | &nbsp;&nbsp;&nbsp; 3650925 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| American Consolidated Natural Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, 13.000%, 12/11/29 | 343094 | &nbsp;&nbsp;&nbsp; 341378 |
| Arsenal AIC Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.913%, 1M TSFR + 2.750%, 08/19/30 | 1019400 | &nbsp;&nbsp;&nbsp; 1021524 |
|  |  | &nbsp;&nbsp;&nbsp; 1362902 |
| **Miscellaneous Manufacturing — 0.4%** | **Miscellaneous Manufacturing — 0.4%** | **Miscellaneous Manufacturing — 0.4%** |
| Cleanova U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.808%, 3M TSFR + 4.750%, 06/14/32 | 525000 | &nbsp;&nbsp;&nbsp; 509250 |
| LTI Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.913%, 1M TSFR + 3.750%, 07/29/29 | 1485000 | &nbsp;&nbsp;&nbsp; 1499850 |
|  |  | &nbsp;&nbsp;&nbsp; 2009100 |
| **Oil & Gas — 0.3%** | **Oil & Gas — 0.3%** | **Oil & Gas — 0.3%** |
| Apro LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.942%, 1M TSFR + 3.750%, 07/09/31 | 594000 | &nbsp;&nbsp;&nbsp; 594000 |
| Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.150%, 1M TSFR + 2.000%, 02/11/30 | 771125 | &nbsp;&nbsp;&nbsp; 773856 |
|  |  | &nbsp;&nbsp;&nbsp; 1367856 |
| **Packaging & Containers — 1.7%** | **Packaging & Containers — 1.7%** | **Packaging & Containers — 1.7%** |
| Altium Packaging LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.663%, 1M TSFR + 2.500%, 06/11/31 | 1459038 | &nbsp;&nbsp;&nbsp; 1435632 |
| Berlin Packaging LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B7, 7.604%, 3M TSFR + 3.250%, 06/07/31 | 982337 | &nbsp;&nbsp;&nbsp; 986498 |
| Charter NEX U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 6.925%, 1M TSFR + 2.750%, 11/29/30 | 1462525 | &nbsp;&nbsp;&nbsp; 1468193 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.338%, 1M TSFR + 3.175%, 04/13/29 | 2135000 | &nbsp;&nbsp;&nbsp; 2133798 |
| Owens-Illinois Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/24/32 (d) | 1025000 | &nbsp;&nbsp;&nbsp; 1024359 |
| Pregis TopCo Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Refinancing Term Loan, 8.163%, 1M TSFR + 4.000%, <br> 02/01/29<br>| 497500 | &nbsp;&nbsp;&nbsp; 501335 |
| Proampac PG Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 8.195% - 8.318%, 1M TSFR + 4.000%, 3M <br> TSFR + 4.000%, 09/15/28 (c)<br>| 1279538 | &nbsp;&nbsp;&nbsp; 1285402 |
|  |  | &nbsp;&nbsp;&nbsp; 8835217 |
| **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** |
| Amneal Pharmaceuticals LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.663%, 1M TSFR + 3.500%, 08/01/32 | 1500000 | &nbsp;&nbsp;&nbsp; 1500000 |
| Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 10.413%, 1M TSFR + 6.250%, 10/08/30 | 1296750 | &nbsp;&nbsp;&nbsp; 1281351 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** |
| Ceva Sante Animale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.976%, 3M TSFR + 2.750%, <br> 11/08/30<br>| 394022 | &nbsp;&nbsp;&nbsp; $395992 |
| Gainwell Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.102%, 3M TSFR + 4.000%, 10/01/27 | 1317312 | &nbsp;&nbsp;&nbsp; 1300022 |
| Grifols Worldwide Operations USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2019 USD Term Loan B, 6.263%, 1M TSFR + 2.000%, <br> 11/15/27<br>| 374570 | &nbsp;&nbsp;&nbsp; 373868 |
| IVC Acquisition Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Repriced Term Loan B, 7.752%, 3M TSFR + 3.750%, <br> 12/12/28<br>| 1500836 | &nbsp;&nbsp;&nbsp; 1508340 |
| Jazz Financing Lux SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B2, 6.413%, 1M TSFR + 2.250%, <br> 05/05/28<br>| 1036474 | &nbsp;&nbsp;&nbsp; 1039425 |
| Padagis LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 9.290%, 3M TSFR + 4.750%, 07/06/28 | 1152736 | &nbsp;&nbsp;&nbsp; 1048990 |
|  |  | &nbsp;&nbsp;&nbsp; 8447988 |
| **Pipelines — 1.5%** | **Pipelines — 1.5%** | **Pipelines — 1.5%** |
| CQP Holdco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.002%, 3M TSFR + 2.000%, <br> 12/31/30<br>| 1244495 | &nbsp;&nbsp;&nbsp; 1246137 |
| Epic Crude Services LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.828%, 3M TSFR + 2.500%, 10/15/31 | 581771 | &nbsp;&nbsp;&nbsp; 582862 |
| Freeport LNG Investments LLLP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.575%, 3M TSFR + 3.250%, 12/21/28 | 712001 | &nbsp;&nbsp;&nbsp; 712594 |
| GIP Pilot Acquisition Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.286%, 3M TSFR + 2.000%, 10/04/30 | 470674 | &nbsp;&nbsp;&nbsp; 470674 |
| ITT Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.638%, 1M TSFR + 2.475%, <br> 10/11/30<br>| 1296159 | &nbsp;&nbsp;&nbsp; 1298859 |
| Oryx Midstream Services Permian Basin LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.416%, 1M TSFR + 2.250%, 10/05/28 | 1100822 | &nbsp;&nbsp;&nbsp; 1102886 |
| Stonepeak Bayou Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 09/24/32 (d) | 825000 | &nbsp;&nbsp;&nbsp; 825000 |
| UGI Energy Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.663%, 1M TSFR + 2.500%, 02/22/30 | 1314418 | &nbsp;&nbsp;&nbsp; 1322223 |
| Whitewater Matterhorn Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.313%, 3M TSFR + 2.250%, 06/16/32 | 450000 | &nbsp;&nbsp;&nbsp; 450703 |
|  |  | &nbsp;&nbsp;&nbsp; 8011938 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B3, 6.913%, 1M TSFR + 2.750%, 01/31/30 | 491387 | &nbsp;&nbsp;&nbsp; 494459 |
| Greystar Real Estate Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.814%, 3M TSFR + 2.500%, 08/21/30 | 612582 | &nbsp;&nbsp;&nbsp; 614113 |
|  |  | &nbsp;&nbsp;&nbsp; 1108572 |
| **Retail — 3.7%** | **Retail — 3.7%** | **Retail — 3.7%** |
| Boots Group Bidco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan, 7.705%, 3M TSFR + 3.500%, 08/30/32 | 1775000 | &nbsp;&nbsp;&nbsp; 1780547 |
| Foundation Building Materials Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 8.308%, 3M TSFR + 4.000%, 01/29/31 | 762141 | &nbsp;&nbsp;&nbsp; 764182 |
| Great Outdoors Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.413%, 1M TSFR + 3.250%, 01/23/32 | 3391296 | &nbsp;&nbsp;&nbsp; 3400303 |

---

**BHFTI-105**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Retail—(Continued)** | **Retail—(Continued)** | **Retail—(Continued)** |
| Harbor Freight Tools USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.413%, 1M TSFR + 2.250%, 06/11/31 | 1806750 | &nbsp;&nbsp;&nbsp; $1776601 |
| IRB Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 12/15/27<br>| 1477727 | &nbsp;&nbsp;&nbsp; 1479676 |
| Kodiak Building Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.752%, 3M TSFR + 3.750%, 12/04/31 | 952605 | &nbsp;&nbsp;&nbsp; 949628 |
| LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B, 06/06/31 (d) | 349116 | &nbsp;&nbsp;&nbsp; 341285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan, 06/06/31 (d) | 475000 | &nbsp;&nbsp;&nbsp; 474050 |
| Les Schwab Tire Centers |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.663% - 6.699%, 1M TSFR + 2.500%, 3M <br> TSFR + 2.500%, 04/23/31 (c)<br>| 1518767 | &nbsp;&nbsp;&nbsp; 1515919 |
| LIDS Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 9.736%, 1M TSFR + 5.500%, 12/14/26 | 47869 | &nbsp;&nbsp;&nbsp; 47420 |
| Park River Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.802%, 3M TSFR + 3.250%, 12/28/27 | 997394 | &nbsp;&nbsp;&nbsp; 998330 |
| Peer Holding III B.V. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B4B, 6.502%, 3M TSFR + 2.500%, <br> 10/28/30<br>| 1083500 | &nbsp;&nbsp;&nbsp; 1086209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B5B, 6.502%, 3M TSFR + 2.500%, <br> 07/01/31<br>| 1414312 | &nbsp;&nbsp;&nbsp; 1417628 |
| Phillips Feed Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan, 11.263%, 1M TSFR + 7.000%, 11/13/26 (g) <br>(h)<br>| 11025 | &nbsp;&nbsp;&nbsp; 6814 |
| Reverb Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Steerco Term Loan, 7.908%, 3M TSFR + 3.500%, <br> 11/01/28<br>| 1073388 | &nbsp;&nbsp;&nbsp; 788940 |
| Serta Simmons Bedding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 New Term Loan, 11.616%, 3M TSFR + 7.500%, <br> 06/29/28<br>| 1330095 | &nbsp;&nbsp;&nbsp; 1254722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Priority Term Loan, 11.940%, 3M TSFR + 7.500%, <br> 06/29/28<br>| 144400 | &nbsp;&nbsp;&nbsp; 144580 |
| White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.416%, 1M TSFR + 3.250%, 10/19/29 | 1565972 | &nbsp;&nbsp;&nbsp; 1568108 |
|  |  | &nbsp;&nbsp;&nbsp; 19794942 |
| **Semiconductors — 0.0%** | **Semiconductors — 0.0%** | **Semiconductors — 0.0%** |
| Bright Bidco BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Exit Term Loan, 10/31/27 (f) | 378225 | &nbsp;&nbsp;&nbsp; 149872 |
| **Software — 12.1%** | **Software — 12.1%** | **Software — 12.1%** |
| Applied Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan, 6.252%, 3M TSFR + 2.250%, <br> 02/24/31<br>| 3916523 | &nbsp;&nbsp;&nbsp; 3924568 |
| Ascend Learning LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 7.163%, 1M TSFR + 3.000%, <br> 12/11/28<br>| 1949798 | &nbsp;&nbsp;&nbsp; 1949392 |
| AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 6.913%, 1M TSFR + 2.750%, 02/15/29 | 2986247 | &nbsp;&nbsp;&nbsp; 2982514 |
| Avalara, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.252%, 3M TSFR + 3.250%, 03/26/32 | 149625 | &nbsp;&nbsp;&nbsp; 149843 |
| Boxer Parent Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.199%, 3M TSFR + 3.000%, <br> 07/30/31<br>| 2975915 | &nbsp;&nbsp;&nbsp; 2975450 |
| Central Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.252%, 3M TSFR + 3.250%, 07/06/29 | 1194086 | &nbsp;&nbsp;&nbsp; 1034626 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2032), 08/13/32 (d) | 1000000 | &nbsp;&nbsp;&nbsp; $1003958 |
| Cloudera, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan, 10.263%, 1M TSFR + 6.000%, <br> 10/08/29<br>| 850000 | &nbsp;&nbsp;&nbsp; 775625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.013%, 1M TSFR + 3.750%, 10/08/28 | 1587931 | &nbsp;&nbsp;&nbsp; 1565105 |
| Clover Holdings SPV III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan, 15.000%, 12/09/27 | 173152 | &nbsp;&nbsp;&nbsp; 176183 |
| Constant Contact, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 8.579%, 3M TSFR + 4.000%, 02/10/28 | 1241012 | &nbsp;&nbsp;&nbsp; 1159182 |
| CoreLogic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.778%, 1M TSFR + 3.500%, 06/02/28 | 1838073 | &nbsp;&nbsp;&nbsp; 1840371 |
| Cornerstone OnDemand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.028%, 1M TSFR + 3.750%, 10/16/28 | 624118 | &nbsp;&nbsp;&nbsp; 602079 |
| Cotiviti Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.030%, 1M TSFR + 2.750%, 05/01/31 | 2481272 | &nbsp;&nbsp;&nbsp; 2460335 |
| Drake Software LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.413%, 1M TSFR + 4.250%, 06/26/31 | 1533783 | &nbsp;&nbsp;&nbsp; 1535700 |
| ECI Macola Max Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.752%, 3M TSFR + 2.750%, 05/09/30 | 1926845 | &nbsp;&nbsp;&nbsp; 1928652 |
| Epicor Software Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan F, 6.663%, 1M TSFR + 2.500%, 05/30/31 | 4654547 | &nbsp;&nbsp;&nbsp; 4664363 |
| Genesys Cloud Services Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 01/30/32<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1492125 |
| Informatica LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.413%, 1M TSFR + 2.250%, 10/27/28 | 2846750 | &nbsp;&nbsp;&nbsp; 2856537 |
| iSolved, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.913%, 1M TSFR + 2.750%, 10/15/30 | 492537 | &nbsp;&nbsp;&nbsp; 494795 |
| Marcel LUX IV SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Repriced Term Loan, 7.370%, 1M TSFR + 3.000%, <br> 11/12/30<br>| 3155767 | &nbsp;&nbsp;&nbsp; 3179435 |
| N-Able International Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.210%, 3M TSFR + 2.750%, 07/19/28 | 432000 | &nbsp;&nbsp;&nbsp; 433620 |
| Oceankey U.S. II Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 7.763%, 1M TSFR + 3.500%, 12/15/28 | 1568559 | &nbsp;&nbsp;&nbsp; 1572725 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 5.913%, 1M TSFR + 1.750%, 01/31/30 | 488395 | &nbsp;&nbsp;&nbsp; 488459 |
| Playtika Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, 7.028%, 1M TSFR + 2.750%, 03/13/28 | 677061 | &nbsp;&nbsp;&nbsp; 667646 |
| PointClickCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.752%, 3M TSFR + 2.750%, 11/03/31 | 2636331 | &nbsp;&nbsp;&nbsp; 2642922 |
| Press Ganey Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 7.163%, 1M TSFR + 3.000%, <br> 04/30/31<br>| 1141009 | &nbsp;&nbsp;&nbsp; 1140494 |
| Project Alpha Intermediate Holding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 7.252%, 3M TSFR + 3.250%, <br> 10/26/30<br>| 2468841 | &nbsp;&nbsp;&nbsp; 2478612 |
| Project Boost Purchaser LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Refinancing Term Loan, 7.068%, 3M TSFR + 2.750%, <br> 07/16/31<br>| 1342386 | &nbsp;&nbsp;&nbsp; 1340498 |
| Project Ruby Ultimate Parent Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.028%, 1M TSFR + 2.750%, 03/10/28 | 1032188 | &nbsp;&nbsp;&nbsp; 1033909 |
| Quartz Acquireco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.252%, 3M TSFR + 2.250%, 06/28/30 | 1078675 | &nbsp;&nbsp;&nbsp; 1077327 |

---

**BHFTI-106**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (a)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Rackspace Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien First Out Term Loan, 10.540%, 1M TSFR + <br> 6.250%, 05/15/28<br>| 460025 | &nbsp;&nbsp;&nbsp; $468268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien Second Out Term Loan, 7.040%, 1M TSFR + <br> 2.750%, 05/15/28<br>| 737264 | &nbsp;&nbsp;&nbsp; 330540 |
| RealPage, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1st Lien Term Loan, 7.263%, 3M TSFR + 3.000%, 04/24/28 | 1493520 | &nbsp;&nbsp;&nbsp; 1491135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan, 7.752%, 3M TSFR + 3.750%, <br> 04/24/28<br>| 398000 | &nbsp;&nbsp;&nbsp; 399777 |
| Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 USD Term Loan B, 7.913%, 1M TSFR + 3.750%, <br> 11/28/28<br>| 199500 | &nbsp;&nbsp;&nbsp; 199961 |
| SkillSoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 9.530%, 1M TSFR + 5.250%, 07/14/28 | 857592 | &nbsp;&nbsp;&nbsp; 765222 |
| SolarWinds Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 8.026%, 3M TSFR + 4.000%, 04/16/32 | 1950000 | &nbsp;&nbsp;&nbsp; 1918313 |
| Symplr Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan, 8.908%, 3M TSFR + 4.500%, 12/22/27 | 472527 | &nbsp;&nbsp;&nbsp; 426160 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.810%, 3M TSFR + 2.500%, 02/10/31 | 4864295 | &nbsp;&nbsp;&nbsp; 4866956 |
| Waystar Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.163%, 1M TSFR + 2.000%, 10/22/29 | 1553015 | &nbsp;&nbsp;&nbsp; 1556897 |
|  |  | &nbsp;&nbsp;&nbsp; 64050279 |
| **Telecommunications — 0.8%** | **Telecommunications — 0.8%** | **Telecommunications — 0.8%** |
| Ciena Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 5.885%, 1M TSFR + 1.750%, <br> 10/24/30<br>| 1173811 | &nbsp;&nbsp;&nbsp; 1178396 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B4, 7.416%, 1M TSFR + 3.250%, <br> 03/27/32<br>| 1333212 | &nbsp;&nbsp;&nbsp; 1335435 |
| Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B1, 6.628%, 1M TSFR + 2.350%, <br> 04/16/29<br>| 275599 | &nbsp;&nbsp;&nbsp; 274083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B2, 6.628%, 1M TSFR + 2.350%, <br> 04/15/30<br>| 270520 | &nbsp;&nbsp;&nbsp; 268998 |
| Viavi Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 06/15/32 (d) | 1100000 | &nbsp;&nbsp;&nbsp; 1104354 |
|  |  | &nbsp;&nbsp;&nbsp; 4161266 |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| AIT Worldwide Logistics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 8.255%, 3M TSFR + 4.000%, <br> 04/08/30<br>| 645125 | &nbsp;&nbsp;&nbsp; 647410 |
| First Student Bidco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.711%, 3M TSFR + 2.500%, 08/15/30 | 384445 | &nbsp;&nbsp;&nbsp; 385166 |
| Kenan Advantage Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 7.413%, 1M TSFR + 3.250%, 01/25/29 | 1728976 | &nbsp;&nbsp;&nbsp; 1707364 |
| Stonepeak Nile Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.079%, 3M TSFR + 2.750%, 04/09/32 | 1000000 | &nbsp;&nbsp;&nbsp; 1000375 |
| Student Transportation of America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 7.288% - 7.564%, 3M TSFR + <br> 3.250%, 06/24/32 (c)<br>| 55000 | &nbsp;&nbsp;&nbsp; 55217 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Transportation—(Continued)** | **Transportation—(Continued)** | **Transportation—(Continued)** |
| Student Transportation of America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.253%, 3M TSFR + 3.250%, 06/24/32 | 768075 | &nbsp;&nbsp;&nbsp; $771115 |
|  |  | &nbsp;&nbsp;&nbsp; 4566647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Floating Rate Loans <br>(Cost $494,668,965) <br>|  | &nbsp;&nbsp;&nbsp; 482224560 |
| **Corporate Bonds & Notes—2.7%** | **Corporate Bonds & Notes—2.7%** | **Corporate Bonds & Notes—2.7%** |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/32 (144A) | 175000 | &nbsp;&nbsp;&nbsp; 179375 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/15/30 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 518067 |
|  |  | &nbsp;&nbsp;&nbsp; 697442 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/20/29 (144A) | 1500000 | &nbsp;&nbsp;&nbsp; 1505738 |
| **Apparel — 0.1%** | **Apparel — 0.1%** | **Apparel — 0.1%** |
| Champ Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 12/01/31 (144A) | 375000 | &nbsp;&nbsp;&nbsp; 398676 |
| **Commercial Services — 0.0%** | **Commercial Services — 0.0%** | **Commercial Services — 0.0%** |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/15/30 (144A) | 85000 | &nbsp;&nbsp;&nbsp; 88292 |
| **Computers — 0.3%** | **Computers — 0.3%** | **Computers — 0.3%** |
| Diebold Nixdorf, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 03/31/30 (144A) | 925000 | &nbsp;&nbsp;&nbsp; 975749 |
| NCR Atleos Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 04/01/29 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 541261 |
|  |  | &nbsp;&nbsp;&nbsp; 1517010 |
| **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** |
| Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/31 (144A) | 750000 | &nbsp;&nbsp;&nbsp; 768089 |
| **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** |
| Artera Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 02/15/31 (144A) | 125000 | &nbsp;&nbsp;&nbsp; 110458 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/32 (144A) | 400000 | &nbsp;&nbsp;&nbsp; 407995 |
| **Insurance — 0.7%** | **Insurance — 0.7%** | **Insurance — 0.7%** |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/29 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 612199 |
| Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/01/31 (144A) | 2850000 | &nbsp;&nbsp;&nbsp; 2964337 |
|  |  | &nbsp;&nbsp;&nbsp; 3576536 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| TK Elevator U.S. Newco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/27 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 498232 |

---

**BHFTI-107**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Virgin Media Secured Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30 (144A) | 800000 | &nbsp;&nbsp;&nbsp; $754273 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| 1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 04/15/32 (144A) | 525000 | &nbsp;&nbsp;&nbsp; 538152 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/30/32 (144A) | 1550000 | &nbsp;&nbsp;&nbsp; 1644168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/30/29 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 518603 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/01/31 (144A) | 825000 | &nbsp;&nbsp;&nbsp; 851264 |
|  |  | &nbsp;&nbsp;&nbsp; 3014035 |
| **Telecommunications — 0.1%** | **Telecommunications — 0.1%** | **Telecommunications — 0.1%** |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/28 (144A) | 475000 | &nbsp;&nbsp;&nbsp; 418000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $13,933,707) <br>|  | &nbsp;&nbsp;&nbsp; 14292928 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks—1.3%** | **Common Stocks—1.3%** | **Common Stocks—1.3%** |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Citybrewing Topco LLC (g) (h) (i) | 66853 | &nbsp;&nbsp;&nbsp; 534824 |
| **Commercial Services — 0.0%** | **Commercial Services — 0.0%** | **Commercial Services — 0.0%** |
| IAP Worldwide Services LLC (g) (h) (i) (j) | 44 | &nbsp;&nbsp;&nbsp; 0 |
| Monitronics International, Inc. (i) (j) | 16872 | &nbsp;&nbsp;&nbsp; 253080 |
|  |  | &nbsp;&nbsp;&nbsp; 253080 |
| **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** |
| Range Red Acquisitions LLC - Class A1 (g) (h) (i) (j) | 543 | &nbsp;&nbsp;&nbsp; 1076698 |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| Akorn Holding Co. LLC (g) (h) (i) (j) | 56220 | &nbsp;&nbsp;&nbsp; 0 |
| **Health Care Providers & Services — 0.3%** | **Health Care Providers & Services — 0.3%** | **Health Care Providers & Services — 0.3%** |
| Cano Health, Inc. (i) (j) | 121458 | &nbsp;&nbsp;&nbsp; 303645 |
| Envision Parent, Inc. (i) (j) | 68001 | &nbsp;&nbsp;&nbsp; 1037015 |
|  |  | &nbsp;&nbsp;&nbsp; 1340660 |
| **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** |
| LG Parent Holding Co. (i) (j) | 9472 | &nbsp;&nbsp;&nbsp; 23680 |
| Serta Simmons Bedding, Inc. (i) (j) | 90899 | &nbsp;&nbsp;&nbsp; 727192 |
| Serta SSB Equipment Co. (g) (h) (i) (j) | 90899 | &nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp; 750872 |
| **Investment Companies — 0.0%** | **Investment Companies — 0.0%** | **Investment Companies — 0.0%** |
| Aegletes BV (g) (h) (i) (j) | 11991 | &nbsp;&nbsp;&nbsp; 0 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| GEE Acquisition Holdings Corp. (g) (h) (i) (j) | 17940 | &nbsp;&nbsp;&nbsp; 0 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| AFG Holdings, Inc. (g) (h) (i) (j) | 24746 | &nbsp;&nbsp;&nbsp; 0 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Metals & Mining—(Continued)** | **Metals & Mining—(Continued)** | **Metals & Mining—(Continued)** |
| American Consolidated Natural Resources, Inc. (i) (j) | 6321 | &nbsp;&nbsp;&nbsp; $504100 |
|  |  | &nbsp;&nbsp;&nbsp; 504100 |
| **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** |
| Mallinckrodt International Finance SA (i) (j) | 23570 | &nbsp;&nbsp;&nbsp; 2486635 |
| **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** |
| Skillsoft Corp. (i) (j) | 3344 | &nbsp;&nbsp;&nbsp; 43539 |
| **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** |
| Phillips Feed Service, Inc. (g) (h) (i) (j) | 62 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $9,039,700) <br>|  | &nbsp;&nbsp;&nbsp; 6990408 |
| **Convertible Preferred Stocks—0.1%** | **Convertible Preferred Stocks—0.1%** | **Convertible Preferred Stocks—0.1%** |
| **IT Services — 0.1%** | **IT Services — 0.1%** | **IT Services — 0.1%** |
| Cohesity Global, Inc. - Series G-1 (i) | 4355 | &nbsp;&nbsp;&nbsp; 97988 |
| Cohesity Global, Inc. - Series G (i) | 6303 | &nbsp;&nbsp;&nbsp; 141817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Cost $218,489) <br>|  | &nbsp;&nbsp;&nbsp; 239805 |
| **Warrants—0.0%** | **Warrants—0.0%** | **Warrants—0.0%** |
| **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Cano Health, Inc., Expires 06/28/29 (i) <br>(Cost $0)<br>| 3834 | &nbsp;&nbsp;&nbsp; 0 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—8.8%** | **Short-Term Investments—8.8%** | **Short-Term Investments—8.8%** |
| **Repurchase Agreement—8.8%** | **Repurchase Agreement—8.8%** | **Repurchase Agreement—8.8%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $46,443,748; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $47,368,838<br>| 46439878 | &nbsp;&nbsp;&nbsp; 46439878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $46,439,878) <br>|  | &nbsp;&nbsp;&nbsp; 46439878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—104.0% <br>(Cost $564,300,739)<br>|  | &nbsp;&nbsp;&nbsp; 550187579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unfunded Loan Commitments—0.0% <br>(Cost $(890707))<br>|  | &nbsp;&nbsp;&nbsp; (890707)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Net Investments—104.0% <br>(Cost $563,410,032) <br>|  | &nbsp;&nbsp;&nbsp; 549296872 |
| Other assets and liabilities (net)—(4.0)%  |  | &nbsp;&nbsp;&nbsp; (20041892)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $529254980 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Floating rate loans ("Senior Loans") often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined 

**BHFTI-108**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | periodically by reference to a base lending rate, plus a spread. These base rates are primarily <br> the Secured Overnight Financing Rate and secondarily, the prime rate offered by one or more <br> major United States banks. Base lending rates may be subject to a floor, or a minimum rate.<br>|
| (b) | Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain <br> credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to <br> fund these commitments at the borrower's discretion.<br>|
| (c) | The stated interest rates represent the range of rates applicable to the underlying contracts <br> within the loan tranche as of September 30, 2025.<br>|
| (d) | This loan will settle after September 30, 2025, at which time the interest rate will be <br> determined.<br>|
| (e) | Payment-in kind security for which part of the income earned may be paid as additional <br> principal.<br>|
| (f) | Non-income producing; security is in default and/or issuer is in bankruptcy. |
| (g) | Security was valued in good faith under procedures subject to oversight by the Board of  |

---

---

| | |
|:---|:---|
|  | Trustees. As of September 30, 2025, these securities represent 0.6% of net assets. |
| (h) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. <br> Level 3.<br>|
| (i) | Non-income producing security. |
| (j) | Security was acquired in connection with a restructuring of a senior loan and may be subject <br> to restrictions on resale.<br>|
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $14,292,928, which is 2.7% of net assets.<br>|

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Floating Rate Loans |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advertising | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2514122 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2514122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace/Defense (Less Unfunded Loan Commitments of $184,973) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7597005 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7597005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agriculture | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 976675 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 976675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airlines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3186954 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3186954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apparel | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6164240 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6164240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Auto Parts & Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5808089 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5808089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 872755 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 872755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5856437 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5856437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Materials | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15110751 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15110751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15596580 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15596580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coal | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 529487 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 529487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services (Less Unfunded Loan Commitments of $430,564) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 50180307 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 50180307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Computers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15772548 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15772548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4217760 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4217760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution/Wholesale | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10447054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10447054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Financial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28251232 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28251232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric (Less Unfunded Loan Commitments of $87,436) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10710735 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10710735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Components & Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2807588 | &nbsp;&nbsp;&nbsp; 1035927 | &nbsp;&nbsp;&nbsp; 3843515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronics | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3544106 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3544106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engineering & Construction (Less Unfunded Loan Commitments of $61,688) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10379708 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10379708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20069420 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20069420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Environmental Control | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14004093 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14004093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3882262 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3882262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Service | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1263125 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1263125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forest Products & Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 501250 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 501250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hand/Machine Tools | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3851763 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3851763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Products (Less Unfunded Loan Commitments of $126,046) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6188259 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6188259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18895314 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18895314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Holding Companies-Diversified | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 200912 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 200912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Builders | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 324994 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 324994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Furnishings | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3196338 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3196338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products/Wares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1044982 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1044982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Housewares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 506791 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 506791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31314297 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31314297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Internet | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5665144 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5665144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7825047 | &nbsp;&nbsp;&nbsp; 173845 | &nbsp;&nbsp;&nbsp; 7998892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Time | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8774774 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8774774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lodging | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5335086 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5335086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3464157 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3464157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery-Diversified | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12095375 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12095375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3679061 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3679061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metal Fabricate/Hardware | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3474348 | &nbsp;&nbsp;&nbsp; 176577 | &nbsp;&nbsp;&nbsp; 3650925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1362902 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1362902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2009100 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2009100 |

---

**BHFTI-109**

------

**Brighthouse Funds Trust I**

**Brighthouse/Eaton Vance Floating Rate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Gas | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1367856 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1367856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging & Containers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8835217 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8835217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8447988 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8447988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pipelines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8011938 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8011938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1108572 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1108572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19788128 | &nbsp;&nbsp;&nbsp; 6814 | &nbsp;&nbsp;&nbsp; 19794942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 149872 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 149872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 64050279 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 64050279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telecommunications | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4161266 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4161266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4566647 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4566647 |
| Total Floating Rate Loans (Less Unfunded Loan Commitments of $890,707) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 479940690 | &nbsp;&nbsp;&nbsp; 1393163 | &nbsp;&nbsp;&nbsp; 481333853 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14292928 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14292928 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 534824 | &nbsp;&nbsp;&nbsp; 534824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 253080 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 253080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1076698 | &nbsp;&nbsp;&nbsp; 1076698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1340660 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1340660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 750872 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 750872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 504100 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 504100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2486635 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2486635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp; 43539 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 43539 | &nbsp;&nbsp;&nbsp; 5335347 | &nbsp;&nbsp;&nbsp; 1611522 | &nbsp;&nbsp;&nbsp; 6990408 |
| Total Convertible Preferred Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 239805 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 239805 |
| Total Warrants\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 46439878 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 46439878 |
| Total Net Investments | &nbsp;&nbsp;&nbsp; $43539 | &nbsp;&nbsp;&nbsp; $546248648 | &nbsp;&nbsp;&nbsp; $3004685 | &nbsp;&nbsp;&nbsp; $549296872 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

During the period ended September 30, 2025, a transfer into Level 3 in the amount of $5,396 was due to the cessation of a vendor or broker providing prices based on market indications which resulted in a lack of significant observable inputs.

**BHFTI-110**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—35.5% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace/Defense — 1.0%** | **Aerospace/Defense — 1.0%** | **Aerospace/Defense — 1.0%** |
| BAE Systems PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/26/27 (144A) (a) | 1200000 | &nbsp;&nbsp;&nbsp; $1213929 |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.196%, 02/04/26 | 2600000 | &nbsp;&nbsp;&nbsp; 2580309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/01/30 | 500000 | &nbsp;&nbsp;&nbsp; 513078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.298%, 05/01/29 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 1061247 |
| General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 07/29/30 (a) | 350000 | &nbsp;&nbsp;&nbsp; 352079 |
|  |  | &nbsp;&nbsp;&nbsp; 5720642 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 02/15/28 (a) | 900000 | &nbsp;&nbsp;&nbsp; 916191 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| Delta Air Lines, Inc./SkyMiles IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/20/25 (144A) | 442248 | &nbsp;&nbsp;&nbsp; 441708 |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/15/27 | 56150 | &nbsp;&nbsp;&nbsp; 56152 |
|  |  | &nbsp;&nbsp;&nbsp; 497860 |
| **Apparel — 0.0%** | **Apparel — 0.0%** | **Apparel — 0.0%** |
| PVH Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/13/30 | 110000 | &nbsp;&nbsp;&nbsp; 112052 |
| **Auto Manufacturers — 1.7%** | **Auto Manufacturers — 1.7%** | **Auto Manufacturers — 1.7%** |
| BMW U.S. Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/11/30 (144A) | 740000 | &nbsp;&nbsp;&nbsp; 741025 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 06/10/26 | 4400000 | &nbsp;&nbsp;&nbsp; 4317313 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 03/25/27 (144A) (a) | 850000 | &nbsp;&nbsp;&nbsp; 856408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/08/27 (144A) (a) | 1400000 | &nbsp;&nbsp;&nbsp; 1414979 |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 03/20/26 (144A) (a) | 2400000 | &nbsp;&nbsp;&nbsp; 2412491 |
|  |  | &nbsp;&nbsp;&nbsp; 9742216 |
| **Banks — 12.3%** | **Banks — 12.3%** | **Banks — 12.3%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.339%, 1Y H15 + 1.650%, 09/18/27 (144A) (b) | 600000 | &nbsp;&nbsp;&nbsp; 611663 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.974%, 3M TSFR + 1.472%, 02/07/30 (a) (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1985243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.376%, SOFR + 1.580%, 04/27/28 (a) (b) | 2500000 | &nbsp;&nbsp;&nbsp; 2509010 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.567%, SOFR + 0.880%, 09/10/27 (a) (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1003437 |
| Bank of New York Mellon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.729%, SOFR + 1.135%, 04/20/29 (b) | 300000 | &nbsp;&nbsp;&nbsp; 304928 |
| Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.591%, 10/16/28 (144A) (a) | 1576000 | &nbsp;&nbsp;&nbsp; 1590205 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.792%, SOFR + 1.450%, 05/09/29 (144A) (b) | 1540000 | &nbsp;&nbsp;&nbsp; 1554342 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.634%, SOFR + 1.140%, 07/03/29 (144A) (b) | 1140000 | &nbsp;&nbsp;&nbsp; 1147981 |
| Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.576%, 05/29/27 (a) | 3800000 | &nbsp;&nbsp;&nbsp; 3833621 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.503%, SOFR + 1.171%, 09/11/31 (a) (b) | 1420000 | &nbsp;&nbsp;&nbsp; $1420768 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.222%, SOFR + 1.460%, 05/27/31 (144A) (a) (b) | 2100000 | &nbsp;&nbsp;&nbsp; 2154244 |
| Danske Bank AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.705%, 1Y H15 + 1.400%, 03/01/30 (144A) (a) (b) | 1600000 | &nbsp;&nbsp;&nbsp; 1664678 |
| Federation des Caisses Desjardins du Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.565%, 08/26/30 (144A) | 750000 | &nbsp;&nbsp;&nbsp; 754149 |
| Fifth Third Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.967%, SOFR + 0.810%, 01/28/28 (a) (b) | 865000 | &nbsp;&nbsp;&nbsp; 873732 |
| Goldman Sachs Bank USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.283%, SOFR + 0.777%, 03/18/27 (a) (b) | 2300000 | &nbsp;&nbsp;&nbsp; 2310428 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.640%, SOFR + 1.114%, 02/24/28 (a) (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1957945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/25/26 (a) | 2000000 | &nbsp;&nbsp;&nbsp; 1995460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/21/25 | 3000000 | &nbsp;&nbsp;&nbsp; 2998024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.387%, SOFR + 1.510%, 06/15/27 (a) (b) | 900000 | &nbsp;&nbsp;&nbsp; 900950 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.208%, SOFR + 2.020%, 08/21/29 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1052438 |
| Huntington National Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, SOFR + 1.650%, 05/17/28 (b) | 2400000 | &nbsp;&nbsp;&nbsp; 2414625 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, SOFR + 1.310%, 01/23/30 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1024451 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 1Y H15 + 1.800%, 03/18/28 (a) (b) | 2700000 | &nbsp;&nbsp;&nbsp; 2681655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.087%, 1Y H15 + 0.850%, 11/26/28 (a) (b) | 960000 | &nbsp;&nbsp;&nbsp; 977095 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.210%, SOFR + 1.610%, 04/20/28 (a) (b) | 2500000 | &nbsp;&nbsp;&nbsp; 2502719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 09/08/26 (a) | 2200000 | &nbsp;&nbsp;&nbsp; 2204627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.173%, SOFR + 1.450%, 01/16/30 (b) | 1500000 | &nbsp;&nbsp;&nbsp; 1541662 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.642%, 1Y H15 + 0.900%, 06/14/27 (b) | 3300000 | &nbsp;&nbsp;&nbsp; 3237585 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, SOFR + 1.342%, 01/21/28 (a) (b) | 600000 | &nbsp;&nbsp;&nbsp; 608893 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.696%, SOFR + 1.060%, 08/06/31 (a) (b) | 1950000 | &nbsp;&nbsp;&nbsp; 1975528 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.473%, SOFR + 1.610%, 03/20/29 (a) (b) | 2700000 | &nbsp;&nbsp;&nbsp; 2751453 |
| Santander U.K. Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.673%, SOFR + 0.989%, 06/14/27 (a) (b) | 1800000 | &nbsp;&nbsp;&nbsp; 1766467 |
| Shinhan Bank Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/21/26 (144A) | 2500000 | &nbsp;&nbsp;&nbsp; 2432549 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.792%, 1Y H15 + 1.000%, 06/09/27 (144A) (a) (b) | 1500000 | &nbsp;&nbsp;&nbsp; 1472776 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.435%, SOFR + 1.620%, 01/24/30 (a) (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2069408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, SOFR + 1.626%, 10/28/26 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2001656 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 04/17/26 | 1200000 | &nbsp;&nbsp;&nbsp; 1203184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.711%, 1Y H15 + 1.550%, 01/12/27 (144A) (b) | 1900000 | &nbsp;&nbsp;&nbsp; 1906713 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 06/03/26 (a) | 3000000 | &nbsp;&nbsp;&nbsp; 2997641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, SOFR + 1.500%, 01/23/30 (a) (b) | 800000 | &nbsp;&nbsp;&nbsp; 823919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.303%, SOFR + 1.790%, 10/23/29 (b) | 900000 | &nbsp;&nbsp;&nbsp; 953246 |
|  |  | &nbsp;&nbsp;&nbsp; 72171098 |

---

**BHFTI-111**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Beverages — 0.4%** | **Beverages — 0.4%** | **Beverages — 0.4%** |
| Coca-Cola Europacific Partners PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 01/15/27 (144A) | 1600000 | &nbsp;&nbsp;&nbsp; $1547280 |
| Diageo Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 08/15/30 | 660000 | &nbsp;&nbsp;&nbsp; 683808 |
|  |  | &nbsp;&nbsp;&nbsp; 2231088 |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 03/25/31 (a) | 635000 | &nbsp;&nbsp;&nbsp; 629708 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.493%, 02/15/27 | 1500000 | &nbsp;&nbsp;&nbsp; 1468136 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/31/31 (144A) (a) | 25000 | &nbsp;&nbsp;&nbsp; 25383 |
| Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/27 (a) | 1300000 | &nbsp;&nbsp;&nbsp; 1328070 |
|  |  | &nbsp;&nbsp;&nbsp; 2821589 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| CF Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/26 (144A) (a) | 600000 | &nbsp;&nbsp;&nbsp; 600943 |
| Rain Carbon, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 09/01/29 (144A) (a) | 1100000 | &nbsp;&nbsp;&nbsp; 1177955 |
|  |  | &nbsp;&nbsp;&nbsp; 1778898 |
| **Commercial Services — 0.2%** | **Commercial Services — 0.2%** | **Commercial Services — 0.2%** |
| EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 05/15/28 (144A) | 1100000 | &nbsp;&nbsp;&nbsp; 1164045 |
| Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30 (a) | 242000 | &nbsp;&nbsp;&nbsp; 242727 |
|  |  | &nbsp;&nbsp;&nbsp; 1406772 |
| **Cosmetics/Personal Care — 0.6%** | **Cosmetics/Personal Care — 0.6%** | **Cosmetics/Personal Care — 0.6%** |
| Haleon U.S. Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/24/27 | 3400000 | &nbsp;&nbsp;&nbsp; 3364691 |
| **Diversified Financial Services — 1.6%** | **Diversified Financial Services — 1.6%** | **Diversified Financial Services — 1.6%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/29/28 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 963693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 01/15/27 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 1021432 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.645%, SOFR + 0.750%, 04/23/27 (a) (b) | 2400000 | &nbsp;&nbsp;&nbsp; 2418659 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 01/31/28 (a) | 2500000 | &nbsp;&nbsp;&nbsp; 2480652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.493%, SOFR + 1.250%, 09/11/31 (b) | 640000 | &nbsp;&nbsp;&nbsp; 634823 |
| CrossCountry Intermediate HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/30 (144A) | 40000 | &nbsp;&nbsp;&nbsp; 40147 |
| GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/28 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 211691 |
| Jefferson Capital Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 02/15/29 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 526610 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/29 | 800000 | &nbsp;&nbsp;&nbsp; 822297 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** |
| SLM Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/31/30 (a) | 300000 | &nbsp;&nbsp;&nbsp; $312620 |
|  |  | &nbsp;&nbsp;&nbsp; 9432624 |
| **Electric — 2.7%** | **Electric — 2.7%** | **Electric — 2.7%** |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 04/15/26 (a) | 2000000 | &nbsp;&nbsp;&nbsp; 1969796 |
| DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 07/01/27 | 800000 | &nbsp;&nbsp;&nbsp; 810181 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 03/15/28 (a) | 4500000 | &nbsp;&nbsp;&nbsp; 4520924 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 05/23/28 (144A) (a) | 300000 | &nbsp;&nbsp;&nbsp; 310361 |
| Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 09/30/30 (144A) | 650000 | &nbsp;&nbsp;&nbsp; 645579 |
| Engie SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/10/29 (144A) (a) | 1400000 | &nbsp;&nbsp;&nbsp; 1440936 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 04/15/26 | 2000000 | &nbsp;&nbsp;&nbsp; 1992434 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.685%, 09/01/27 (a) | 460000 | &nbsp;&nbsp;&nbsp; 465002 |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 07/01/30 | 1600000 | &nbsp;&nbsp;&nbsp; 1588886 |
| Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/01/30 | 315000 | &nbsp;&nbsp;&nbsp; 313101 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/29 (144A) (a) | 1200000 | &nbsp;&nbsp;&nbsp; 1174873 |
| Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 06/01/30 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 958566 |
|  |  | &nbsp;&nbsp;&nbsp; 16190639 |
| **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/29 (144A) (a) | 1100000 | &nbsp;&nbsp;&nbsp; 1132539 |
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| Banijay Entertainment SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 05/01/29 (144A) (a) | 600000 | &nbsp;&nbsp;&nbsp; 623147 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29 (144A) (a) | 1200000 | &nbsp;&nbsp;&nbsp; 1147482 |
| Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30 (144A) | 30000 | &nbsp;&nbsp;&nbsp; 30268 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.755%, 03/15/27 (a) | 78000 | &nbsp;&nbsp;&nbsp; 76928 |
|  |  | &nbsp;&nbsp;&nbsp; 1877825 |
| **Food — 0.6%** | **Food — 0.6%** | **Food — 0.6%** |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 03/01/30 (144A) (a) | 2585000 | &nbsp;&nbsp;&nbsp; 2633539 |
| Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/17/29 (a) | 1100000 | &nbsp;&nbsp;&nbsp; 1150072 |
|  |  | &nbsp;&nbsp;&nbsp; 3783611 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 09/15/28 | 320000 | &nbsp;&nbsp;&nbsp; 319656 |

---

**BHFTI-112**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Products — 0.5%** | **Healthcare-Products — 0.5%** | **Healthcare-Products — 0.5%** |
| Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.915%, 02/01/27 (a) | 3000000 | &nbsp;&nbsp;&nbsp; $2907723 |
| **Healthcare-Services — 1.0%** | **Healthcare-Services — 1.0%** | **Healthcare-Services — 1.0%** |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/29 (144A) (a) | 1100000 | &nbsp;&nbsp;&nbsp; 1067704 |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 03/15/26 (a) | 1666000 | &nbsp;&nbsp;&nbsp; 1642937 |
| Icon Investments Six DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.809%, 05/08/27 (a) | 1700000 | &nbsp;&nbsp;&nbsp; 1734453 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/29 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 1052635 |
| Kedrion SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/01/29 (144A) (a) | 200000 | &nbsp;&nbsp;&nbsp; 197364 |
|  |  | &nbsp;&nbsp;&nbsp; 5695093 |
| **Home Builders — 0.5%** | **Home Builders — 0.5%** | **Home Builders — 0.5%** |
| DR Horton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/30 | 1500000 | &nbsp;&nbsp;&nbsp; 1529832 |
| Toll Brothers Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 02/15/28 (a) | 1500000 | &nbsp;&nbsp;&nbsp; 1504429 |
|  |  | &nbsp;&nbsp;&nbsp; 3034261 |
| **Insurance — 1.9%** | **Insurance — 1.9%** | **Insurance — 1.9%** |
| Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/15/29 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 314956 |
| AEGON Funding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/16/27 (144A) (a) | 2100000 | &nbsp;&nbsp;&nbsp; 2136729 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 596871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/28 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 508862 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.516%, 03/25/27 (144A) (a) | 2000000 | &nbsp;&nbsp;&nbsp; 2036372 |
| Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 06/23/30 (a) | 345000 | &nbsp;&nbsp;&nbsp; 349636 |
| Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 09/19/28 (144A) (a) | 1300000 | &nbsp;&nbsp;&nbsp; 1359941 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/04/29 | 300000 | &nbsp;&nbsp;&nbsp; 312782 |
| GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 09/23/27 (144A) (a) | 2150000 | &nbsp;&nbsp;&nbsp; 2154354 |
| Northwestern Mutual Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 06/12/28 (144A) (a) | 1150000 | &nbsp;&nbsp;&nbsp; 1177455 |
| RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.448%, 05/24/29 (144A) (a) | 500000 | &nbsp;&nbsp;&nbsp; 518790 |
|  |  | &nbsp;&nbsp;&nbsp; 11466748 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/15/30 (144A) (a) | 300000 | &nbsp;&nbsp;&nbsp; 306296 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| Sands China Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 03/08/27 | 1200000 | &nbsp;&nbsp;&nbsp; 1165369 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| Eaton Capital ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 05/09/30 (a) | 520000 | &nbsp;&nbsp;&nbsp; $525390 |
| **Machinery-Diversified — 0.2%** | **Machinery-Diversified — 0.2%** | **Machinery-Diversified — 0.2%** |
| Esab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/29 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 205460 |
| John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/30 (a) | 975000 | &nbsp;&nbsp;&nbsp; 981953 |
|  |  | &nbsp;&nbsp;&nbsp; 1187413 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/01/30 (144A) | 450000 | &nbsp;&nbsp;&nbsp; 444474 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/15/27 (144A) | 246000 | &nbsp;&nbsp;&nbsp; 245724 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/30/30 (a) | 1500000 | &nbsp;&nbsp;&nbsp; 1674717 |
|  |  | &nbsp;&nbsp;&nbsp; 2364915 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.907%, 04/01/28 (144A) | 1110000 | &nbsp;&nbsp;&nbsp; 1127479 |
| **Multi-National — 0.2%** | **Multi-National — 0.2%** | **Multi-National — 0.2%** |
| Banque Ouest Africaine de Developpement |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/27/27 (144A) | 1300000 | &nbsp;&nbsp;&nbsp; 1301316 |
| **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** |
| CITGO Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/15/26 (144A) (a) | 1100000 | &nbsp;&nbsp;&nbsp; 1099938 |
| Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/22/26 (a) | 1300000 | &nbsp;&nbsp;&nbsp; 1290366 |
| Harbour Energy PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/26 (144A) | 2200000 | &nbsp;&nbsp;&nbsp; 2172433 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/16/25 (a) | 350000 | &nbsp;&nbsp;&nbsp; 349532 |
| Petronas Capital Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 01/03/31 (144A) | 1455000 | &nbsp;&nbsp;&nbsp; 1502036 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/29 (144A) | 700000 | &nbsp;&nbsp;&nbsp; 724784 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/28 (144A) (a) | 1400000 | &nbsp;&nbsp;&nbsp; 1483729 |
| Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 08/01/30 (a) | 244000 | &nbsp;&nbsp;&nbsp; 245819 |
|  |  | &nbsp;&nbsp;&nbsp; 8868637 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 03/17/30 (a) | 510000 | &nbsp;&nbsp;&nbsp; 521567 |
| Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 05/15/30 (144A) (a) | 200000 | &nbsp;&nbsp;&nbsp; 195919 |
|  |  | &nbsp;&nbsp;&nbsp; 717486 |
| **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** |
| Bayer U.S. Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/21/29 (144A) | 2500000 | &nbsp;&nbsp;&nbsp; 2628835 |

---

**BHFTI-113**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** | **Pharmaceuticals—(Continued)** |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 03/25/28 (a) | 1600000 | &nbsp;&nbsp;&nbsp; $1601054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/30/29 (a) | 1500000 | &nbsp;&nbsp;&nbsp; 1529479 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/09/27 (a) | 303000 | &nbsp;&nbsp;&nbsp; 302577 |
|  |  | &nbsp;&nbsp;&nbsp; 6061945 |
| **Pipelines — 0.9%** | **Pipelines — 0.9%** | **Pipelines — 0.9%** |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 07/15/26 | 1200000 | &nbsp;&nbsp;&nbsp; 1197481 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/01/28 (144A) (a) | 150000 | &nbsp;&nbsp;&nbsp; 152907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/29 (144A) (a) | 100000 | &nbsp;&nbsp;&nbsp; 103133 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 02/15/31 | 1900000 | &nbsp;&nbsp;&nbsp; 1911468 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 07/15/26 (a) | 1100000 | &nbsp;&nbsp;&nbsp; 1103718 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 06/01/28 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 621042 |
|  |  | &nbsp;&nbsp;&nbsp; 5089749 |
| **Real Estate Investment Trusts — 1.4%** | **Real Estate Investment Trusts — 1.4%** | **Real Estate Investment Trusts — 1.4%** |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.050%, 07/15/26 (a) | 733000 | &nbsp;&nbsp;&nbsp; 714734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 06/15/26 | 2367000 | &nbsp;&nbsp;&nbsp; 2357164 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/15/27 (144A) | 1400000 | &nbsp;&nbsp;&nbsp; 1393267 |
| Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/01/30 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 152548 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/27 (a) | 850000 | &nbsp;&nbsp;&nbsp; 823419 |
| Prologis Targeted U.S. Logistics Fund LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/01/29 (144A) (a) | 500000 | &nbsp;&nbsp;&nbsp; 516060 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/29 (144A) (a) | 400000 | &nbsp;&nbsp;&nbsp; 392289 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/31 (144A) | 220000 | &nbsp;&nbsp;&nbsp; 219863 |
| VICI Properties LP/VICI Note Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/27 (144A) | 1500000 | &nbsp;&nbsp;&nbsp; 1483463 |
|  |  | &nbsp;&nbsp;&nbsp; 8052807 |
| **Retail — 0.0%** | **Retail — 0.0%** | **Retail — 0.0%** |
| KSouth Africa Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/31/49 (144A) † (c) (d) (e) | 712186 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; 25.000%, 12/31/49 (144A) † (c) (d) (e) | 313720 | &nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp; 0 |
| **Semiconductors — 1.0%** | **Semiconductors — 1.0%** | **Semiconductors — 1.0%** |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 01/25/30 (144A) (a) | 1900000 | &nbsp;&nbsp;&nbsp; 2003566 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/30 (a) | 355000 | &nbsp;&nbsp;&nbsp; 359624 |
| SK Hynix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 01/19/26 (144A) (a) | 3400000 | &nbsp;&nbsp;&nbsp; 3370552 |
|  |  | &nbsp;&nbsp;&nbsp; 5733742 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 06/01/27 (a) | 1000000 | &nbsp;&nbsp;&nbsp; $971334 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 09/26/30 | 445000 | &nbsp;&nbsp;&nbsp; 444782 |
|  |  | &nbsp;&nbsp;&nbsp; 1416116 |
| **Telecommunications — 0.8%** | **Telecommunications — 0.8%** | **Telecommunications — 0.8%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 06/01/27 | 400000 | &nbsp;&nbsp;&nbsp; 388181 |
| Connect Finco SARL/Connect U.S. Finco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/15/29 (144A) (a) | 300000 | &nbsp;&nbsp;&nbsp; 315421 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 08/15/30 (a) | 1015000 | &nbsp;&nbsp;&nbsp; 1034342 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 03/15/28 (a) | 3000000 | &nbsp;&nbsp;&nbsp; 3057566 |
|  |  | &nbsp;&nbsp;&nbsp; 4795510 |
| **Transportation — 0.0%** | **Transportation — 0.0%** | **Transportation — 0.0%** |
| Beacon Mobility Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/01/30 (144A) | 35000 | &nbsp;&nbsp;&nbsp; 36388 |
| **Trucking & Leasing — 0.5%** | **Trucking & Leasing — 0.5%** | **Trucking & Leasing — 0.5%** |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/10/30 (144A) | 665000 | &nbsp;&nbsp;&nbsp; 668639 |
| SMBC Aviation Capital Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 04/01/30 (144A) (a) | 2100000 | &nbsp;&nbsp;&nbsp; 2146011 |
|  |  | &nbsp;&nbsp;&nbsp; 2814650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $207,953,214) <br>|  | &nbsp;&nbsp;&nbsp; 208798732 |
| **U.S. Treasury & Government Agencies—19.3%** | **U.S. Treasury & Government Agencies—19.3%** | **U.S. Treasury & Government Agencies—19.3%** |
| **U.S. Treasury — 19.3%** | **U.S. Treasury — 19.3%** | **U.S. Treasury — 19.3%** |
| U.S. Treasury Inflation-Indexed Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 04/15/26 (f) | 8745567 | &nbsp;&nbsp;&nbsp; 8699362 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 08/31/27 (g) | 2800000 | &nbsp;&nbsp;&nbsp; 2639328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 08/31/26 | 23000000 | &nbsp;&nbsp;&nbsp; 22384211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 | 11300000 | &nbsp;&nbsp;&nbsp; 11087242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 08/15/28 | 6000000 | &nbsp;&nbsp;&nbsp; 5877422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/31/26 | 4000000 | &nbsp;&nbsp;&nbsp; 4000125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 9000000 | &nbsp;&nbsp;&nbsp; 9028477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/31/29 | 10000000 | &nbsp;&nbsp;&nbsp; 10112500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 04/30/29 | 25400000 | &nbsp;&nbsp;&nbsp; 26210617 |
| U.S. Treasury STRIPS Coupon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/27 (a) | 14400000 | &nbsp;&nbsp;&nbsp; 13315269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $112,927,633) <br>|  | &nbsp;&nbsp;&nbsp; 113354553 |
| **Asset-Backed Securities—16.9%** | **Asset-Backed Securities—16.9%** | **Asset-Backed Securities—16.9%** |
| **Asset-Backed - Automobile — 4.0%** | **Asset-Backed - Automobile — 4.0%** | **Asset-Backed - Automobile — 4.0%** |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.090%, 12/15/28 | 2330000 | &nbsp;&nbsp;&nbsp; 2355615 |

---

**BHFTI-114**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Automobile—(Continued)** | **Asset-Backed - Automobile—(Continued)** | **Asset-Backed - Automobile—(Continued)** |
| GM Financial Consumer Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 12/18/28 | 4000000 | &nbsp;&nbsp;&nbsp; $4025244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 03/16/27 | 81550 | &nbsp;&nbsp;&nbsp; 81614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.780%, 08/16/28 | 2264233 | &nbsp;&nbsp;&nbsp; 2290327 |
| Honda Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.410%, 02/18/28 | 2029832 | &nbsp;&nbsp;&nbsp; 2044914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.670%, 06/21/28 | 1969379 | &nbsp;&nbsp;&nbsp; 1992680 |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.990%, 02/15/29 | 1230000 | &nbsp;&nbsp;&nbsp; 1242207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.480%, 04/17/28 | 855571 | &nbsp;&nbsp;&nbsp; 861882 |
| Nissan Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.910%, 11/15/27 | 2667570 | &nbsp;&nbsp;&nbsp; 2675909 |
| Toyota Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.830%, 10/16/28 | 2330000 | &nbsp;&nbsp;&nbsp; 2345532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 01/16/29 | 2730000 | &nbsp;&nbsp;&nbsp; 2771560 |
| Truist Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.728%, 09/26/33 (144A) | 940000 | &nbsp;&nbsp;&nbsp; 940694 |
|  |  | &nbsp;&nbsp;&nbsp; 23628178 |
| **Asset-Backed - Credit Card — 2.3%** | **Asset-Backed - Credit Card — 2.3%** | **Asset-Backed - Credit Card — 2.3%** |
| American Express Credit Account Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.870%, 05/15/28 | 3620000 | &nbsp;&nbsp;&nbsp; 3639672 |
| BA Credit Card Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.980%, 11/15/28 | 2000000 | &nbsp;&nbsp;&nbsp; 2024542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/28 | 4000000 | &nbsp;&nbsp;&nbsp; 4003711 |
| Discover Card Execution Note Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.930%, 06/15/28 | 3620000 | &nbsp;&nbsp;&nbsp; 3643149 |
|  |  | &nbsp;&nbsp;&nbsp; 13311074 |
| **Asset-Backed - Home Equity — 0.4%** | **Asset-Backed - Home Equity — 0.4%** | **Asset-Backed - Home Equity — 0.4%** |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.156%, SOFR30A + 1.800%, 02/25/55 (144A) (b) | 282761 | &nbsp;&nbsp;&nbsp; 284638 |
| FIGRE Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.265%, 07/25/55 (144A) (h) | 305096 | &nbsp;&nbsp;&nbsp; 306040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.285%, 08/25/55 (144A) (b) | 379423 | &nbsp;&nbsp;&nbsp; 380856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.408%, 07/25/55 (144A) (b) | 437431 | &nbsp;&nbsp;&nbsp; 440704 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.180%, 09/25/55 (144A) (h) | 584000 | &nbsp;&nbsp;&nbsp; 584006 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.089%, SOFR30A + 1.700%, 03/20/54 (144A) (b) | 201722 | &nbsp;&nbsp;&nbsp; 202792 |
|  |  | &nbsp;&nbsp;&nbsp; 2199036 |
| **Asset-Backed - Other — 10.2%** | **Asset-Backed - Other — 10.2%** | **Asset-Backed - Other — 10.2%** |
| AGL CLO 13 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.373%, 3M TSFR + 1.100%, 10/20/34 (144A) (b) | 850000 | &nbsp;&nbsp;&nbsp; 851283 |
| Allegro CLO VII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.448%, 3M TSFR + 1.130%, 06/13/31 (144A) (b) | 698212 | &nbsp;&nbsp;&nbsp; 698147 |
| Apidos CLO XXXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.426%, 3M TSFR + 1.100%, 01/20/33 (144A) (b) | 1390408 | &nbsp;&nbsp;&nbsp; 1391077 |
| Bain Capital Credit CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.232%, 3M TSFR + 0.990%, 04/18/33 (144A) (b) | 1600000 | &nbsp;&nbsp;&nbsp; 1600731 |
| Basswood Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.053%, 3M TSFR + 1.030%, 04/20/34 (144A) (b) | 800000 | &nbsp;&nbsp;&nbsp; 800566 |
| Battalion CLO IX Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.274%, 3M TSFR + 0.960%, 07/15/31 (144A) (b) | 3000000 | &nbsp;&nbsp;&nbsp; 3001047 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Bellemeade RE Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.206%, SOFR30A + 3.850%, 09/25/31 (144A) (b) | 494000 | &nbsp;&nbsp;&nbsp; $511024 |
| BlueMountain CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.411%, 3M TSFR + 1.200%, 11/15/30 (144A) (b) | 1387434 | &nbsp;&nbsp;&nbsp; 1387215 |
| Buckhorn Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.399%, 3M TSFR + 1.070%, 07/18/34 (144A) (b) | 900000 | &nbsp;&nbsp;&nbsp; 900425 |
| Carlyle Global Market Strategies CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.507%, 3M TSFR + 0.920%, 07/20/32 (144A) (b) | 1937000 | &nbsp;&nbsp;&nbsp; 1937000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.546%, 3M TSFR + 1.220%, 07/20/32 (144A) (b) | 1940649 | &nbsp;&nbsp;&nbsp; 1940649 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.690%, 07/15/60 (144A) | 1137020 | &nbsp;&nbsp;&nbsp; 976636 |
| Compass Datacenters Issuer II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 08/25/49 (144A) | 286000 | &nbsp;&nbsp;&nbsp; 287375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 05/25/50 (144A) | 307000 | &nbsp;&nbsp;&nbsp; 310838 |
| Cook Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.704%, 3M TSFR + 1.382%, 04/17/30 (144A) (b) | 1500000 | &nbsp;&nbsp;&nbsp; 1499190 |
| Countrywide Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 1M TSFR + 0.864%, 03/25/34 (b) | 23964 | &nbsp;&nbsp;&nbsp; 24529 |
| Dryden 68 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.418%, 3M TSFR + 1.100%, 07/15/35 (144A) (b) | 2250000 | &nbsp;&nbsp;&nbsp; 2251280 |
| Dryden 80 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.155%, 3M TSFR + 0.950%, 01/17/33 (144A) (b) | 2815000 | &nbsp;&nbsp;&nbsp; 2815822 |
| Elevation CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.246%, 3M TSFR + 0.920%, 10/20/31 (144A) (b) | 563958 | &nbsp;&nbsp;&nbsp; 563657 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.266%, 10/19/37 (144A) | 1198014 | &nbsp;&nbsp;&nbsp; 1192421 |
| Flatiron CLO 28 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.333%, 3M TSFR + 1.080%, 07/15/36 (144A) (b) | 3610000 | &nbsp;&nbsp;&nbsp; 3614346 |
| GoldenTree Loan Management U.S. CLO 11 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, 3M TSFR + 1.080%, 10/20/34 (144A) (b) | 3200000 | &nbsp;&nbsp;&nbsp; 3200678 |
| Home Partners of America Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.649%, 01/17/41 (144A) | 476436 | &nbsp;&nbsp;&nbsp; 445923 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.589%, SOFR30A + 1.200%, 02/25/55 (144A) (b) | 524084 | &nbsp;&nbsp;&nbsp; 524082 |
| Madison Park Funding XLV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.398%, 3M TSFR + 1.080%, 07/15/34 (144A) (b) | 2500000 | &nbsp;&nbsp;&nbsp; 2501830 |
| Madison Park Funding XXIV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.446%, 3M TSFR + 1.120%, 10/20/29 (144A) (b) | 738064 | &nbsp;&nbsp;&nbsp; 738077 |
| Marble Point CLO XV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.359%, 3M TSFR + 1.040%, 07/23/32 (144A) (b) | 703987 | &nbsp;&nbsp;&nbsp; 703692 |
| New Economy Assets - Phase 1 Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.910%, 10/20/61 (144A) | 5010000 | &nbsp;&nbsp;&nbsp; 4179076 |
| PK Alift Loan Funding 7 LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/15/43 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 300041 |
| RAAC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 1M TSFR + 0.814%, 03/25/34 (b) | 35383 | &nbsp;&nbsp;&nbsp; 35241 |
| RR 14 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.699%, 3M TSFR + 1.382%, 04/15/36 (144A) (b) | 5382000 | &nbsp;&nbsp;&nbsp; 5391519 |
| Sound Point CLO XXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 3M TSFR + 1.030%, 01/20/32 (144A) (b) | 1084887 | &nbsp;&nbsp;&nbsp; 1083637 |
| Southwick Park CLO LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.326%, 3M TSFR + 1.000%, 07/20/32 (144A) (b) | 1335000 | &nbsp;&nbsp;&nbsp; 1334626 |
| Symphony CLO XXIII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.218%, 3M TSFR + 0.900%, 01/15/34 (144A) (b) | 1267421 | &nbsp;&nbsp;&nbsp; 1266900 |
| TCI-Flatiron CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.264%, 3M TSFR + 0.950%, 07/29/35 (144A) (b) | 2900000 | &nbsp;&nbsp;&nbsp; 2907824 |

---

**BHFTI-115**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| THL Credit Wind River CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.378%, 3M TSFR + 1.060%, 04/15/31 (144A) (b) | 471229 | &nbsp;&nbsp;&nbsp; $471284 |
| Trinitas CLO XII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.309%, 3M TSFR + 1.050%, 04/25/33 (144A) (b) | 1100000 | &nbsp;&nbsp;&nbsp; 1102968 |
| Venture 41 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.546%, 3M TSFR + 1.130%, 01/20/34 (144A) (b) | 2500000 | &nbsp;&nbsp;&nbsp; 2501405 |
| Wellfleet CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.519%, 3M TSFR + 1.200%, 01/15/35 (144A) (b) | 2900000 | &nbsp;&nbsp;&nbsp; 2902265 |
|  |  | &nbsp;&nbsp;&nbsp; 60146326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $99,942,527) <br>|  | &nbsp;&nbsp;&nbsp; 99284614 |
| **Agency Sponsored Mortgage-Backed Securities—11.7%** | **Agency Sponsored Mortgage-Backed Securities—11.7%** | **Agency Sponsored Mortgage-Backed Securities—11.7%** |
| **Agency Collateralized Mortgage Obligations — 10.5%** | **Agency Collateralized Mortgage Obligations — 10.5%** | **Agency Collateralized Mortgage Obligations — 10.5%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/25/51 (i) | 7037608 | &nbsp;&nbsp;&nbsp; 1097413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/25/51 (i) | 6706560 | &nbsp;&nbsp;&nbsp; 1078336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.256%, SOFR30A + 0.900%, 08/25/54 (b) | 1801326 | &nbsp;&nbsp;&nbsp; 1802176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, SOFR30A + 0.950%, 06/25/54 (b) | 4051234 | &nbsp;&nbsp;&nbsp; 4066765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 02/25/54 (b) | 2697294 | &nbsp;&nbsp;&nbsp; 2703883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 08/25/54 (b) | 2224534 | &nbsp;&nbsp;&nbsp; 2229995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 02/25/55 (b) | 1774601 | &nbsp;&nbsp;&nbsp; 1778936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 08/25/55 (b) | 2655854 | &nbsp;&nbsp;&nbsp; 2660496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, SOFR30A + 1.150%, 03/25/55 (b) | 2152774 | &nbsp;&nbsp;&nbsp; 2159058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, SOFR30A + 1.150%, 05/25/55 (b) | 2826035 | &nbsp;&nbsp;&nbsp; 2832906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, SOFR30A + 1.200%, 06/25/55 (b) | 2790488 | &nbsp;&nbsp;&nbsp; 2790007 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.206%, SOFR30A + 0.850%, 11/25/41 (144A) (b) | 111461 | &nbsp;&nbsp;&nbsp; 111393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, SOFR30A + 0.950%, 01/25/45 (144A) (b) | 618112 | &nbsp;&nbsp;&nbsp; 618498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, SOFR30A + 0.950%, 09/25/45 (144A) (b) | 654000 | &nbsp;&nbsp;&nbsp; 654409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, SOFR30A + 1.000%, 10/25/44 (144A) (b) | 181506 | &nbsp;&nbsp;&nbsp; 181454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 05/25/45 (144A) (b) | 473450 | &nbsp;&nbsp;&nbsp; 474626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, SOFR30A + 1.200%, 08/25/44 (144A) (b) | 2111153 | &nbsp;&nbsp;&nbsp; 2112462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association Connecticut Avenue <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, SOFR30A + 0.950%, 01/25/45 (144A) (b) | 502793 | &nbsp;&nbsp;&nbsp; 503110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, SOFR30A + 1.000%, 07/25/44 (144A) (b) | 453164 | &nbsp;&nbsp;&nbsp; 453092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, SOFR30A + 1.000%, 02/25/45 (144A) (b) | 312856 | &nbsp;&nbsp;&nbsp; 313243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, SOFR30A + 1.000%, 05/25/45 (144A) (b) | 396833 | &nbsp;&nbsp;&nbsp; 397263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, SOFR30A + 1.050%, 09/25/44 (144A) (b) | 234225 | &nbsp;&nbsp;&nbsp; 234079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 02/25/44 (144A) (b) | 607247 | &nbsp;&nbsp;&nbsp; 606871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, SOFR30A + 1.150%, 03/25/44 (144A) (b) | 737378 | &nbsp;&nbsp;&nbsp; 737600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, SOFR30A + 1.200%, 01/25/42 (144A) (b) | 87502 | &nbsp;&nbsp;&nbsp; 87474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.806%, SOFR30A + 1.450%, 03/25/45 (144A) (b) | 481754 | &nbsp;&nbsp;&nbsp; 484770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, SOFR30A + 1.500%, 10/25/43 (144A) (b) | 1895886 | &nbsp;&nbsp;&nbsp; 1897660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.021%, SOFR30A + 2.664%, 12/25/30 (b) | 282663 | &nbsp;&nbsp;&nbsp; 290707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.271%, SOFR30A + 2.914%, 02/25/30 (b) | 338179 | &nbsp;&nbsp;&nbsp; 343746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.421%, SOFR30A + 7.064%, 08/25/28 (b) | 231770 | &nbsp;&nbsp;&nbsp; 236495 |
| Federal National Mortgage Association Interest STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/25/53 (i) | 6625674 | &nbsp;&nbsp;&nbsp; 1171854 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, SOFR30A + 0.950%, 01/25/54 (b) | 1455303 | &nbsp;&nbsp;&nbsp; 1460890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, SOFR30A + 0.950%, 11/25/54 (b) | 5030987 | &nbsp;&nbsp;&nbsp; 5027174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.326%, SOFR30A + 0.970%, 08/25/54 (b) | 3000993 | &nbsp;&nbsp;&nbsp; 3014172 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 06/25/54 (b) | 2086194 | &nbsp;&nbsp;&nbsp; $2091194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, SOFR30A + 1.100%, 07/25/55 (b) | 2846920 | &nbsp;&nbsp;&nbsp; 2852448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, SOFR30A + 1.150%, 12/25/53 (b) | 2692904 | &nbsp;&nbsp;&nbsp; 2702692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, SOFR30A + 1.200%, 10/25/53 (b) | 2751999 | &nbsp;&nbsp;&nbsp; 2766123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, SOFR30A + 1.200%, 05/25/54 (b) | 2026780 | &nbsp;&nbsp;&nbsp; 2036375 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/20/51 (i) | 13406446 | &nbsp;&nbsp;&nbsp; 1437711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/49 (i) | 5981648 | &nbsp;&nbsp;&nbsp; 1150640 |
|  |  | &nbsp;&nbsp;&nbsp; 61650196 |
| **Agency Mortgage-Backed Securities — 1.2%** | **Agency Mortgage-Backed Securities — 1.2%** | **Agency Mortgage-Backed Securities — 1.2%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/37 | 2611796 | &nbsp;&nbsp;&nbsp; 2501702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/37 | 2682690 | &nbsp;&nbsp;&nbsp; 2599936 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.470%, 6M RFUCCT + 0.845%, 11/01/33 (b) | 230 | &nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.684%, 1Y H15 + 2.068%, 03/01/30 (b) | 34 | &nbsp;&nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.795%, 6M RFUCCT + 1.170%, 03/01/28 (b) | 405 | &nbsp;&nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 1Y H15 + 1.675%, 11/01/32 (b) | 5840 | &nbsp;&nbsp;&nbsp; 5909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.915%, 6M RFUCCT + 1.415%, 06/01/32 (b) | 5312 | &nbsp;&nbsp;&nbsp; 5334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.932%, 1Y H15 + 2.270%, 08/01/30 (b) | 6176 | &nbsp;&nbsp;&nbsp; 6230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.038%, 6M RFUCCT + 1.413%, 11/01/34 (b) | 1302 | &nbsp;&nbsp;&nbsp; 1311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.040%, 6M RFUCCT + 1.415%, 12/01/32 (b) | 29911 | &nbsp;&nbsp;&nbsp; 29973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.047%, 6M RFUCCT + 1.400%, 03/01/35 (b) | 7455 | &nbsp;&nbsp;&nbsp; 7514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 1Y RFUCCT + 1.550%, 07/01/33 (b) | 14334 | &nbsp;&nbsp;&nbsp; 14492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.055%, 6M RFUCCT + 1.430%, 02/01/36 (b) | 6497 | &nbsp;&nbsp;&nbsp; 6571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 1Y RFUCCT + 1.375%, 07/01/33 (b) | 8688 | &nbsp;&nbsp;&nbsp; 8805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.126%, 6M RFUCCT + 1.569%, 12/01/34 (b) | 8725 | &nbsp;&nbsp;&nbsp; 8866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1Y H15 + 2.150%, 08/01/33 (b) | 29344 | &nbsp;&nbsp;&nbsp; 30032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.163%, 6M RFUCCT + 1.538%, 09/01/35 (b) | 3651 | &nbsp;&nbsp;&nbsp; 3687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.195%, 6M RFUCCT + 1.570%, 11/01/35 (b) | 18030 | &nbsp;&nbsp;&nbsp; 18527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.223%, 1Y H15 + 2.223%, 07/01/35 (b) | 5051 | &nbsp;&nbsp;&nbsp; 5231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.233%, 1Y H15 + 2.059%, 07/01/33 (b) | 8865 | &nbsp;&nbsp;&nbsp; 9036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.237%, 6M RFUCCT + 1.585%, 03/01/36 (b) | 31117 | &nbsp;&nbsp;&nbsp; 31730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.245%, 6M RFUCCT + 1.620%, 11/01/32 (b) | 2440 | &nbsp;&nbsp;&nbsp; 2457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.280%, 1Y RFUCCT + 1.655%, 08/01/34 (b) | 629 | &nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.286%, 6M RFUCCT + 1.535%, 04/01/36 (b) | 4304 | &nbsp;&nbsp;&nbsp; 4349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.289%, 1Y H15 + 2.244%, 03/01/38 (b) | 2853 | &nbsp;&nbsp;&nbsp; 2924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.293%, 1Y H15 + 2.169%, 07/01/33 (b) | 13970 | &nbsp;&nbsp;&nbsp; 14286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.332%, 6M RFUCCT + 1.635%, 03/01/37 (b) | 828 | &nbsp;&nbsp;&nbsp; 856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.352%, 1Y H15 + 2.181%, 11/01/35 (b) | 337146 | &nbsp;&nbsp;&nbsp; 345666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.354%, 1Y H15 + 2.215%, 08/01/29 (b) | 38 | &nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.380%, 1Y RFUCCT + 1.569%, 11/01/36 (b) | 175 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.395%, 1Y H15 + 2.270%, 01/01/29 (b) | 707 | &nbsp;&nbsp;&nbsp; 710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.395%, 1Y RFUCCT + 1.645%, 09/01/39 (b) | 853 | &nbsp;&nbsp;&nbsp; 874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.402%, 1Y H15 + 2.152%, 12/01/33 (b) | 17900 | &nbsp;&nbsp;&nbsp; 18279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.404%, 1Y H15 + 2.258%, 09/01/36 (b) | 129 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.405%, 1Y RFUCCT + 1.530%, 02/01/33 (b) | 20793 | &nbsp;&nbsp;&nbsp; 21147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.425%, 1Y RFUCCT + 1.550%, 02/01/44 (b) | 24009 | &nbsp;&nbsp;&nbsp; 24542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.432%, 1Y RFUCCT + 1.682%, 05/01/33 (b) | 2435 | &nbsp;&nbsp;&nbsp; 2468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.446%, 1Y RFUCCT + 1.696%, 08/01/37 (b) | 2618 | &nbsp;&nbsp;&nbsp; 2696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.477%, 1Y RFUCCT + 1.602%, 03/01/33 (b) | 8223 | &nbsp;&nbsp;&nbsp; 8364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.492%, 1Y RFUCCT + 1.621%, 01/01/36 (b) | 10345 | &nbsp;&nbsp;&nbsp; 10540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.520%, 1Y H15 + 2.270%, 01/01/32 (b) | 2895 | &nbsp;&nbsp;&nbsp; 2942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.523%, 1Y H15 + 2.366%, 01/01/32 (b) | 78 | &nbsp;&nbsp;&nbsp; 78 |

---

**BHFTI-116**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.525%, 1Y H15 + 2.275%, 06/01/35 (b) | 29292 | &nbsp;&nbsp;&nbsp; $30110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.526%, 1Y H15 + 2.360%, 11/01/34 (b) | 450124 | &nbsp;&nbsp;&nbsp; 468120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.534%, 1Y RFUCCT + 1.668%, 11/01/36 (b) | 330389 | &nbsp;&nbsp;&nbsp; 338799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.535%, 1Y H15 + 2.285%, 02/01/35 (b) | 22284 | &nbsp;&nbsp;&nbsp; 22912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.565%, 6M RFUCCT + 1.940%, 06/01/28 (b) | 288 | &nbsp;&nbsp;&nbsp; 291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.571%, 1Y H15 + 2.405%, 07/01/28 (b) | 140 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.583%, 1Y RFUCCT + 1.833%, 08/01/32 (b) | 22677 | &nbsp;&nbsp;&nbsp; 23070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.585%, 1Y RFUCCT + 1.585%, 02/01/36 (b) | 8044 | &nbsp;&nbsp;&nbsp; 8230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.594%, 1Y RFUCCT + 1.844%, 09/01/37 (b) | 570 | &nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.615%, 1Y RFUCCT + 1.690%, 11/01/35 (b) | 1918 | &nbsp;&nbsp;&nbsp; 1955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.653%, 1Y RFUCCT + 1.778%, 12/01/35 (b) | 77393 | &nbsp;&nbsp;&nbsp; 79322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.709%, 1Y H15 + 2.178%, 09/01/33 (b) | 663 | &nbsp;&nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.722%, 1Y H15 + 2.479%, 09/01/33 (b) | 213 | &nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.731%, 6M RFUCCT + 2.106%, 09/01/33 (b) | 14374 | &nbsp;&nbsp;&nbsp; 14466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.731%, 1Y H15 + 2.481%, 04/01/36 (b) | 797 | &nbsp;&nbsp;&nbsp; 824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.748%, 1Y RFUCCT + 1.815%, 03/01/36 (b) | 7578 | &nbsp;&nbsp;&nbsp; 7719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1Y RFUCCT + 1.750%, 04/01/34 (b) | 11505 | &nbsp;&nbsp;&nbsp; 11687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.810%, 1Y RFUCCT + 1.810%, 04/01/40 (b) | 399 | &nbsp;&nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.825%, 1Y RFUCCT + 1.825%, 03/01/36 (b) | 11054 | &nbsp;&nbsp;&nbsp; 11280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.844%, 1Y RFUCCT + 1.708%, 09/01/35 (b) | 427213 | &nbsp;&nbsp;&nbsp; 441945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 6M RFUCCT + 2.250%, 10/01/33 (b) | 12581 | &nbsp;&nbsp;&nbsp; 12978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.935%, 1Y RFUCCT + 1.810%, 04/01/35 (b) | 68538 | &nbsp;&nbsp;&nbsp; 70326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.956%, 1Y RFUCCT + 1.905%, 11/01/35 (b) | 126377 | &nbsp;&nbsp;&nbsp; 130391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.998%, 1Y H15 + 1.998%, 10/01/32 (b) | 2968 | &nbsp;&nbsp;&nbsp; 3014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.025%, 6M RFUCCT + 2.275%, 08/01/32 (b) | 1693 | &nbsp;&nbsp;&nbsp; 1726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.156%, 1Y RFUCCT + 1.656%, 10/01/36 (b) | 576 | &nbsp;&nbsp;&nbsp; 591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.265%, 1Y RFUCCT + 1.765%, 10/01/33 (b) | 9894 | &nbsp;&nbsp;&nbsp; 10038 |
|  |  | &nbsp;&nbsp;&nbsp; 7451534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $68,989,361) <br>|  | &nbsp;&nbsp;&nbsp; 69101730 |
| **Non-Agency Mortgage-Backed Securities—8.0%** | **Non-Agency Mortgage-Backed Securities—8.0%** | **Non-Agency Mortgage-Backed Securities—8.0%** |
| **Collateralized Mortgage Obligations — 5.8%** | **Collateralized Mortgage Obligations — 5.8%** | **Collateralized Mortgage Obligations — 5.8%** |
| A&D Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.733%, 07/25/68 (144A) (h) | 420614 | &nbsp;&nbsp;&nbsp; 424657 |
| Adjustable Rate Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.481%, 02/25/35 (b) | 142528 | &nbsp;&nbsp;&nbsp; 141906 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/25/44 (144A) (b) | 606404 | &nbsp;&nbsp;&nbsp; 581862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.191%, 03/25/64 (144A) (h) | 1289515 | &nbsp;&nbsp;&nbsp; 1304959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.285%, 02/25/64 (144A) (h) | 266035 | &nbsp;&nbsp;&nbsp; 269302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.394%, 10/25/63 (144A) (h) | 748329 | &nbsp;&nbsp;&nbsp; 756509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.435%, 05/25/63 (144A) (h) | 1585035 | &nbsp;&nbsp;&nbsp; 1595330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.505%, 06/25/63 (144A) (h) | 155876 | &nbsp;&nbsp;&nbsp; 157112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.602%, 09/25/63 (144A) (h) | 293231 | &nbsp;&nbsp;&nbsp; 295895 |
| CAFL Issuer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.684%, 05/28/40 (144A) (h) | 227000 | &nbsp;&nbsp;&nbsp; 228853 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.964%, 07/25/34 (b) | 129946 | &nbsp;&nbsp;&nbsp; 123939 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.301%, 03/25/67 (144A) (b) | 737149 | &nbsp;&nbsp;&nbsp; 734548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.835%, 02/25/69 (144A) (h) | 840521 | &nbsp;&nbsp;&nbsp; 847124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.903%, 12/25/68 (144A) (h) | 432930 | &nbsp;&nbsp;&nbsp; 436407 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| Credit Suisse First Boston Mortgage Securities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/25/38 | 33476 | &nbsp;&nbsp;&nbsp; $18902 |
| Cross Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.883%, 04/25/70 (144A) (b) | 326086 | &nbsp;&nbsp;&nbsp; 330468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.085%, 12/25/68 (144A) (h) | 1153658 | &nbsp;&nbsp;&nbsp; 1164645 |
| Deephaven Residential Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.735%, 07/25/69 (144A) (h) | 792116 | &nbsp;&nbsp;&nbsp; 800177 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.689%, SOFR30A + 1.300%, 02/25/56 (144A) (b) | 240000 | &nbsp;&nbsp;&nbsp; 239979 |
| HOMES Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.915%, 07/25/69 (144A) (h) | 372529 | &nbsp;&nbsp;&nbsp; 376378 |
| Imperial Fund Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.941%, 02/25/68 (144A) (h) | 572175 | &nbsp;&nbsp;&nbsp; 571986 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/25/52 (144A) (b) | 616201 | &nbsp;&nbsp;&nbsp; 549910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.919%, 06/25/54 (144A) (h) | 305704 | &nbsp;&nbsp;&nbsp; 308134 |
| LHOME Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.612%, 04/25/40 (144A) (b) | 185000 | &nbsp;&nbsp;&nbsp; 186766 |
| Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, 1M TSFR + 0.854%, 03/25/28 (b) | 25946 | &nbsp;&nbsp;&nbsp; 25269 |
| Mill City Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/25/62 (144A) (b) | 148241 | &nbsp;&nbsp;&nbsp; 147109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/25/66 (144A) (b) | 743057 | &nbsp;&nbsp;&nbsp; 730564 |
| Morgan Stanley Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, SOFR30A + 1.350%, 09/25/54 (144A) (b) | 767069 | &nbsp;&nbsp;&nbsp; 765940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.152%, 12/25/68 (144A) (h) | 911399 | &nbsp;&nbsp;&nbsp; 920715 |
| New York Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.947%, 1M TSFR + 0.789%, 02/25/36 (b) | 17182 | &nbsp;&nbsp;&nbsp; 16988 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/51 (144A) (b) | 243624 | &nbsp;&nbsp;&nbsp; 218026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.922%, 1M TSFR + 0.764%, 06/25/57 (144A) (b) | 197548 | &nbsp;&nbsp;&nbsp; 193641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.878%, 12/25/63 (144A) (h) | 404027 | &nbsp;&nbsp;&nbsp; 407320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.928%, 11/25/63 (144A) (h) | 535398 | &nbsp;&nbsp;&nbsp; 539755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.067%, 01/25/64 (144A) (h) | 303285 | &nbsp;&nbsp;&nbsp; 306447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.129%, 12/25/63 (144A) (h) | 484964 | &nbsp;&nbsp;&nbsp; 490722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.233%, 05/25/64 (144A) (h) | 810108 | &nbsp;&nbsp;&nbsp; 821371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.465%, 10/25/63 (144A) (h) | 1320026 | &nbsp;&nbsp;&nbsp; 1335304 |
| Onity Loan Investment Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/25/38 (144A) (b) | 447720 | &nbsp;&nbsp;&nbsp; 436973 |
| PRKCM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.333%, 03/25/59 (144A) (h) | 277103 | &nbsp;&nbsp;&nbsp; 280350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.431%, 05/25/59 (144A) (h) | 295309 | &nbsp;&nbsp;&nbsp; 299771 |
| Provident Funding Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/51 (144A) (b) | 464913 | &nbsp;&nbsp;&nbsp; 413986 |
| PSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/25/51 (144A) (b) | 2229436 | &nbsp;&nbsp;&nbsp; 2012163 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.890%, 1M TSFR + 0.754%, 11/20/34 (b) | 77764 | &nbsp;&nbsp;&nbsp; 73689 |
| Station Place Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.057%, 1M TSFR + 0.900%, 09/23/26 (144A) (b) | 2040000 | &nbsp;&nbsp;&nbsp; 2043191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.222%, 1M TSFR + 0.900%, 10/27/25 (144A) (b) | 1800000 | &nbsp;&nbsp;&nbsp; 1810894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.223%, 1M TSFR + 0.900%, 07/23/26 (144A) (b) | 2052000 | &nbsp;&nbsp;&nbsp; 2066881 |
| Toorak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.524%, 02/25/40 (144A) (h) | 270000 | &nbsp;&nbsp;&nbsp; 271780 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/25/58 (144A) (b) | 1107516 | &nbsp;&nbsp;&nbsp; 1052437 |

---

**BHFTI-117**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 03/25/58 (144A) (b) | 259029 | &nbsp;&nbsp;&nbsp; $252318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/25/58 (144A) (b) | 1244336 | &nbsp;&nbsp;&nbsp; 1223608 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.095%, 02/25/69 (144A) (h) | 181695 | &nbsp;&nbsp;&nbsp; 183595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.218%, 06/25/69 (144A) (h) | 509755 | &nbsp;&nbsp;&nbsp; 516615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.338%, 04/25/69 (144A) (h) | 622177 | &nbsp;&nbsp;&nbsp; 630780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.665%, 09/25/68 (144A) (h) | 155526 | &nbsp;&nbsp;&nbsp; 157304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.876%, 11/25/68 (144A) (b) | 507826 | &nbsp;&nbsp;&nbsp; 515743 |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 1M TSFR + 0.574%, 04/25/45 (b) | 314858 | &nbsp;&nbsp;&nbsp; 321881 |
|  |  | &nbsp;&nbsp;&nbsp; 33928878 |
| **Commercial Mortgage-Backed Securities — 2.2%** | **Commercial Mortgage-Backed Securities — 2.2%** | **Commercial Mortgage-Backed Securities — 2.2%** |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.395%, 05/15/58 (b) (i) | 11515491 | &nbsp;&nbsp;&nbsp; 549988 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.580%, 05/15/58 (b) (i) | 7922595 | &nbsp;&nbsp;&nbsp; 418868 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.965%, 1M TSFR + 0.814%, 09/15/36 (144A) (b) | 1889215 | &nbsp;&nbsp;&nbsp; 1883311 |
| BX Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.954%, 1M TSFR + 0.804%, 10/15/36 (144A) (b) | 2643000 | &nbsp;&nbsp;&nbsp; 2636409 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.641%, 1M TSFR + 1.491%, 04/15/37 (144A) (b) | 1660828 | &nbsp;&nbsp;&nbsp; 1661347 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 07/10/49 | 447449 | &nbsp;&nbsp;&nbsp; 443884 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 02/10/48 (b) | 442000 | &nbsp;&nbsp;&nbsp; 423524 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.207%, 03/15/53 (b) (i) | 14350751 | &nbsp;&nbsp;&nbsp; 518910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.718%, 08/15/48 | 12955 | &nbsp;&nbsp;&nbsp; 12926 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.727%, 02/13/53 (b) (i) | 26891033 | &nbsp;&nbsp;&nbsp; 573164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 05/10/49 | 320000 | &nbsp;&nbsp;&nbsp; 317808 |
| JPMBB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.576%, 03/17/49 | 1043000 | &nbsp;&nbsp;&nbsp; 1039034 |
| Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.994%, 12/15/49 (b) | 602000 | &nbsp;&nbsp;&nbsp; 594773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.068%, 12/15/47 | 355000 | &nbsp;&nbsp;&nbsp; 349744 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.155%, 10/15/52 (b) (i) | 15078135 | &nbsp;&nbsp;&nbsp; 510488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.695%, 11/15/48 | 121704 | &nbsp;&nbsp;&nbsp; 121459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.776%, 11/15/48 (b) | 916000 | &nbsp;&nbsp;&nbsp; 898207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.853%, 01/15/59 (b) | 321000 | &nbsp;&nbsp;&nbsp; 314579 |
|  |  | &nbsp;&nbsp;&nbsp; 13268423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $47,810,323) <br>|  | &nbsp;&nbsp;&nbsp; 47197301 |
| **Floating Rate Loans (j)—3.9%** | **Floating Rate Loans (j)—3.9%** | **Floating Rate Loans (j)—3.9%** |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| Barnes Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.913%, 1M TSFR + 2.750%, 01/27/32 | 248750 | &nbsp;&nbsp;&nbsp; 249333 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Aerospace/Defense—(Continued)** | **Aerospace/Defense—(Continued)** | **Aerospace/Defense—(Continued)** |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan K, 6.252%, 3M TSFR + 2.250%, 03/22/30 | 250000 | &nbsp;&nbsp;&nbsp; $249942 |
|  |  | &nbsp;&nbsp;&nbsp; 499275 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 1st Lien Term Loan, 6.258%, 6M TSFR + 2.250%, <br> 06/04/29<br>| 238600 | &nbsp;&nbsp;&nbsp; 238351 |
| AS Mileage Plan IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.075%, 3M TSFR + 1.750%, 10/15/31 | 135920 | &nbsp;&nbsp;&nbsp; 136486 |
| United Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.196%, 3M TSFR + 2.000%, <br> 02/22/31<br>| 198386 | &nbsp;&nbsp;&nbsp; 199275 |
| WestJet Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.252%, 3M TSFR + 3.250%, 02/14/31 | 236400 | &nbsp;&nbsp;&nbsp; 236966 |
|  |  | &nbsp;&nbsp;&nbsp; 811078 |
| **Apparel — 0.0%** | **Apparel — 0.0%** | **Apparel — 0.0%** |
| Hanesbrands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.913%, 1M TSFR + 2.750%, 03/07/32 | 190566 | &nbsp;&nbsp;&nbsp; 191757 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| American Axle and Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan C, 02/24/32 (k) | 118159 | &nbsp;&nbsp;&nbsp; 117716 |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 01/28/32<br>| 259980 | &nbsp;&nbsp;&nbsp; 259818 |
| First Brands Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 9.570%, 3M TSFR + 5.000%, 03/30/27 | 153217 | &nbsp;&nbsp;&nbsp; 56179 |
|  |  | &nbsp;&nbsp;&nbsp; 433713 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Primo Brands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.252%, 3M TSFR + 2.250%, 03/31/28 | 339517 | &nbsp;&nbsp;&nbsp; 339851 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| Chamberlain Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.163%, 1M TSFR + 3.000%, 09/08/32 | 30625 | &nbsp;&nbsp;&nbsp; 30675 |
| EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.122%, 6M TSFR + 2.250%, 08/04/31 | 70297 | &nbsp;&nbsp;&nbsp; 70110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.449%, 3M TSFR + 2.250%, 05/31/30 | 238131 | &nbsp;&nbsp;&nbsp; 237768 |
| Knife River Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 6.123%, 3M TSFR + 2.000%, 03/08/32 | 19005 | &nbsp;&nbsp;&nbsp; 19076 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 6.413%, 1M TSFR + 2.250%, 03/19/29 | 248111 | &nbsp;&nbsp;&nbsp; 248498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.413%, 1M TSFR + 2.250%, 02/10/32 | 89207 | &nbsp;&nbsp;&nbsp; 89274 |
| Smyrna Ready Mix Concrete LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 04/02/29 (k) | 28102 | &nbsp;&nbsp;&nbsp; 28243 |
| Watlow Electric Manufacturing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.308%, 3M TSFR + 3.000%, 03/02/28 | 190675 | &nbsp;&nbsp;&nbsp; 191062 |
|  |  | &nbsp;&nbsp;&nbsp; 914706 |
| **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
| A-AP Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.752%, 3M TSFR + 2.750%, 09/09/31 | 100436 | &nbsp;&nbsp;&nbsp; 101000 |

---

**BHFTI-118**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (j)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Chemicals—(Continued)** | **Chemicals—(Continued)** | **Chemicals—(Continued)** |
| Albaugh LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 7.913%, 1M TSFR + 3.750%, 04/06/29 | 228589 | &nbsp;&nbsp;&nbsp; $229161 |
| Fortis 333, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 7.502%, 3M TSFR + 3.500%, 03/29/32 | 43750 | &nbsp;&nbsp;&nbsp; 43559 |
| Illuminate Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 12/31/29<br>| 59173 | &nbsp;&nbsp;&nbsp; 59380 |
| INEOS Quattro Holdings U.K. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 USD 1st Lien Term Loan B, 8.513%, 1M TSFR + 4.250%, <br> 04/02/29<br>| 338633 | &nbsp;&nbsp;&nbsp; 308156 |
| Paint Intermediate III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.242%, 3M TSFR + 3.000%, 10/09/31 | 249373 | &nbsp;&nbsp;&nbsp; 249217 |
| Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 09/17/32 (k) | 90036 | &nbsp;&nbsp;&nbsp; 90374 |
|  |  | &nbsp;&nbsp;&nbsp; 1080847 |
| **Commercial Services — 0.5%** | **Commercial Services — 0.5%** | **Commercial Services — 0.5%** |
| Albion Financing 3 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 7.215%, 3M TSFR + 3.000%, 05/21/31 | 28082 | &nbsp;&nbsp;&nbsp; 28205 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.513%, 1M TSFR + 3.250%, <br> 08/20/32<br>| 135548 | &nbsp;&nbsp;&nbsp; 136172 |
| APi Group DE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 5.913%, 1M TSFR + 1.750%, 01/03/29 | 250000 | &nbsp;&nbsp;&nbsp; 250098 |
| Boost Newco Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B2, 6.002%, 3M TSFR + 2.000%, <br> 01/31/31<br>| 248750 | &nbsp;&nbsp;&nbsp; 249341 |
| Camelot U.S. Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.913%, 1M TSFR + 2.750%, 01/31/31 | 250000 | &nbsp;&nbsp;&nbsp; 248802 |
| Cimpress PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.663%, 1M TSFR + 2.500%, 05/17/28 | 148872 | &nbsp;&nbsp;&nbsp; 149430 |
| Creative Artists Agency LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 10/01/31<br>| 248750 | &nbsp;&nbsp;&nbsp; 249320 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.174%, 1M TSFR + 3.000%, 02/01/29 | 248750 | &nbsp;&nbsp;&nbsp; 249216 |
| Nuvei Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.913%, 1M TSFR + 2.750%, <br> 11/17/31<br>| 244282 | &nbsp;&nbsp;&nbsp; 244609 |
| PG Investment Co. 59 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.913%, 3M TSFR + 2.750%, 03/26/31 | 82555 | &nbsp;&nbsp;&nbsp; 82941 |
| Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, 6.005%, 1M TSFR + 1.750%, <br> 03/07/32<br>| 248750 | &nbsp;&nbsp;&nbsp; 247351 |
| TTF Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.794%, 6M TSFR + 3.750%, 07/18/31 | 81235 | &nbsp;&nbsp;&nbsp; 77173 |
| Veritiv Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.002%, 3M TSFR + 4.000%, 11/30/30 | 241067 | &nbsp;&nbsp;&nbsp; 239486 |
| Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 01/30/31<br>| 243383 | &nbsp;&nbsp;&nbsp; 242756 |
|  |  | &nbsp;&nbsp;&nbsp; 2694900 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| Clover Holdings 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 7.942%, 1M TSFR + 3.750%, 12/09/31 | 47387 | &nbsp;&nbsp;&nbsp; 47466 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Computers—(Continued)** | **Computers—(Continued)** | **Computers—(Continued)** |
| Imprivata, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.002%, 3M TSFR + 3.000%, 12/01/27 | 57160 | &nbsp;&nbsp;&nbsp; $57460 |
| KnowBe4, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 8.064%, 3M TSFR + 3.750%, 07/23/32 | 93750 | &nbsp;&nbsp;&nbsp; 93984 |
| McAfee LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD 1st Lien Term Loan B, 7.223%, 1M TSFR + 3.000%, <br> 03/01/29<br>| 248125 | &nbsp;&nbsp;&nbsp; 237787 |
| Nielsen Consumer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 6.663%, 1M TSFR + 3.250%, 03/06/28 | 248752 | &nbsp;&nbsp;&nbsp; 248558 |
|  |  | &nbsp;&nbsp;&nbsp; 685255 |
| **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** |
| Core & Main LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, 6.166%, 1M TSFR + 2.000%, 07/27/28 | 145961 | &nbsp;&nbsp;&nbsp; 146371 |
| **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** |
| Citadel Securities LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien Term Loan, 6.163%, 1M TSFR + 2.000%, <br> 10/31/31<br>| 373674 | &nbsp;&nbsp;&nbsp; 374741 |
| CPI Holdco B LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B, 6.163%, 1M TSFR + 2.000%, <br> 05/17/31<br>| 249370 | &nbsp;&nbsp;&nbsp; 249370 |
| Edelman Financial Center LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.163%, 1M TSFR + 3.000%, 04/07/28 | 330101 | &nbsp;&nbsp;&nbsp; 330642 |
| Jane Street Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, 6.199%, 3M TSFR + 2.000%, 12/15/31 | 245490 | &nbsp;&nbsp;&nbsp; 243975 |
| Speed Midco 3 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 09/23/32 (k) | 73099 | &nbsp;&nbsp;&nbsp; 73145 |
|  |  | &nbsp;&nbsp;&nbsp; 1271873 |
| **Electric — 0.0%** | **Electric — 0.0%** | **Electric — 0.0%** |
| Calpine Construction Finance Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Refinancing Term Loan B, 6.163%, 1M TSFR + 2.000%, <br> 07/31/30<br>| 100000 | &nbsp;&nbsp;&nbsp; 100132 |
| Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B10, 5.913%, 1M TSFR + 1.750%, 01/31/31 | 149624 | &nbsp;&nbsp;&nbsp; 149638 |
|  |  | &nbsp;&nbsp;&nbsp; 249770 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| MV Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 6.413%, 1M TSFR + 2.250%, <br> 03/17/32<br>| 22615 | &nbsp;&nbsp;&nbsp; 22671 |
| Pinnacle Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 09/10/32 (k) | 14050 | &nbsp;&nbsp;&nbsp; 14082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 09/10/32 (k) | 73058 | &nbsp;&nbsp;&nbsp; 73226 |
|  |  | &nbsp;&nbsp;&nbsp; 109979 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| Brand Industrial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.796%, 3M TSFR + 4.500%, 08/01/30 | 248111 | &nbsp;&nbsp;&nbsp; 225285 |
| Radar Bidco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan, 7.558%, 3M TSFR + 3.500%, 04/04/31 | 83332 | &nbsp;&nbsp;&nbsp; 83852 |
|  |  | &nbsp;&nbsp;&nbsp; 309137 |

---

**BHFTI-119**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (j)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| Banijay Entertainment SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B3, 7.023%, 1M TSFR + 2.750%, <br> 03/01/28<br>| 44097 | &nbsp;&nbsp;&nbsp; $44276 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.413%, 1M TSFR + 2.250%, 02/06/30 | 86016 | &nbsp;&nbsp;&nbsp; 85944 |
| Flutter Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 5.752%, 3M TSFR + 1.750%, 11/30/30 | 248106 | &nbsp;&nbsp;&nbsp; 247719 |
| Great Canadian Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.753%, 3M TSFR + 4.750%, 11/01/29 | 150000 | &nbsp;&nbsp;&nbsp; 145055 |
| GVC Holdings Gibraltar Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B3, 6.610%, 6M TSFR + 2.750%, <br> 10/31/29<br>| 99000 | &nbsp;&nbsp;&nbsp; 99099 |
| Scientific Games Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 7.286%, 3M TSFR + 3.000%, <br> 04/04/29<br>| 265397 | &nbsp;&nbsp;&nbsp; 263572 |
|  |  | &nbsp;&nbsp;&nbsp; 885665 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| Aspire Bakeries Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.663%, 1M TSFR + 3.500%, 12/23/30 | 87572 | &nbsp;&nbsp;&nbsp; 88065 |
| Froneri Lux Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B4, 6.197%, 6M TSFR + 2.000%, <br> 09/30/31<br>| 232409 | &nbsp;&nbsp;&nbsp; 230985 |
|  |  | &nbsp;&nbsp;&nbsp; 319050 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, 6.163% - 6.199%, 1M TSFR + 2.000%, <br> 3M TSFR + 2.000%, 06/22/30 (l)<br>| 22475 | &nbsp;&nbsp;&nbsp; 22587 |
| Golden State Foods LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.002%, 1M TSFR + 3.750%, 12/04/31 | 67120 | &nbsp;&nbsp;&nbsp; 67389 |
|  |  | &nbsp;&nbsp;&nbsp; 89976 |
| **Healthcare-Products — 0.0%** | **Healthcare-Products — 0.0%** | **Healthcare-Products — 0.0%** |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.413%, 1M TSFR + 4.250%, 01/15/31 | 235450 | &nbsp;&nbsp;&nbsp; 236039 |
| **Healthcare-Services — 0.1%** | **Healthcare-Services — 0.1%** | **Healthcare-Services — 0.1%** |
| Charlotte Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 8.425%, 1M TSFR + 4.250%, <br> 02/11/28<br>| 77204 | &nbsp;&nbsp;&nbsp; 77179 |
| Dermatology Intermediate Holdings III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 03/30/29 (k) | 124678 | &nbsp;&nbsp;&nbsp; 117820 |
| Phoenix Guarantor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.663%, 1M TSFR + 2.500%, 02/21/31 | 98752 | &nbsp;&nbsp;&nbsp; 98925 |
| U.S. Anesthesia Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.645%, 1M TSFR + 4.250%, 10/01/28 | 245524 | &nbsp;&nbsp;&nbsp; 245393 |
|  |  | &nbsp;&nbsp;&nbsp; 539317 |
| **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** |
| Forward Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.810%, 3M TSFR + 4.500%, 12/19/30 | 250000 | &nbsp;&nbsp;&nbsp; 249375 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| Tecta America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.163%, 1M TSFR + 3.000%, 02/18/32 | 71250 | &nbsp;&nbsp;&nbsp; 71584 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| AI Aqua Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 7.280%, 1M TSFR + 3.000%, <br> 07/31/28<br>| 452397 | &nbsp;&nbsp;&nbsp; $453892 |
| **Housewares — 0.0%** | **Housewares — 0.0%** | **Housewares — 0.0%** |
| Hunter Douglas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 7.252%, 3M TSFR + 3.250%, <br> 01/20/32<br>| 223834 | &nbsp;&nbsp;&nbsp; 224068 |
| **Insurance — 0.2%** | **Insurance — 0.2%** | **Insurance — 0.2%** |
| Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.666%, 1M TSFR + 2.500%, 09/19/31 | 248125 | &nbsp;&nbsp;&nbsp; 247723 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.252%, 3M TSFR + 2.250%, 01/30/32 | 260410 | &nbsp;&nbsp;&nbsp; 260508 |
| Asurion LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan B4, 9.528%, 1M TSFR + 5.250%, <br> 01/20/29<br>| 144707 | &nbsp;&nbsp;&nbsp; 138855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B11, 8.513%, 1M TSFR + 4.250%, 08/19/28 | 245592 | &nbsp;&nbsp;&nbsp; 246574 |
| Broadstreet Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 6.913%, 1M TSFR + 2.750%, 06/13/31 | 237069 | &nbsp;&nbsp;&nbsp; 237546 |
| Sedgwick Claims Management Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 6.663%, 1M TSFR + 2.500%, 07/31/31 | 220269 | &nbsp;&nbsp;&nbsp; 220214 |
|  |  | &nbsp;&nbsp;&nbsp; 1351420 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| CNT Holdings I Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 6.558%, 3M TSFR + 2.250%, 11/08/32 | 99500 | &nbsp;&nbsp;&nbsp; 99558 |
| MH Sub I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 8.252%, 3M TSFR + 4.250%, 05/03/28 | 146624 | &nbsp;&nbsp;&nbsp; 141630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 8.413%, 1M TSFR + 4.250%, 12/31/31 | 99242 | &nbsp;&nbsp;&nbsp; 91509 |
|  |  | &nbsp;&nbsp;&nbsp; 332697 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| Horizon U.S. Finco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.808%, 3M TSFR + 4.500%, 10/31/31 | 248024 | &nbsp;&nbsp;&nbsp; 243374 |
| **Machinery-Construction & Mining — 0.0%** | **Machinery-Construction & Mining — 0.0%** | **Machinery-Construction & Mining — 0.0%** |
| WEC U.S. Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 6.530%, 1M TSFR + 2.250%, 01/27/31 | 248744 | &nbsp;&nbsp;&nbsp; 249150 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| CPM Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 8.780%, 1M TSFR + 4.500%, 09/28/28 | 236391 | &nbsp;&nbsp;&nbsp; 236095 |
| Crown Equipment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.530%, 1M TSFR + 2.250%, 10/10/31 | 249374 | &nbsp;&nbsp;&nbsp; 250309 |
| Roper Industrial Products Investment Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD 1st Lien Term Loan B, 6.752%, 3M TSFR + 2.750%, <br> 11/22/29<br>| 247876 | &nbsp;&nbsp;&nbsp; 248522 |
|  |  | &nbsp;&nbsp;&nbsp; 734926 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, 6.541%, 3M TSFR + 2.250%, 12/15/31 | 248125 | &nbsp;&nbsp;&nbsp; 248319 |

---

**BHFTI-120**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (j)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** |
| Crosby U.S. Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 7.663%, 1M TSFR + 3.500%, <br> 08/16/29<br>| 98585 | &nbsp;&nbsp;&nbsp; $99078 |
| Tiger Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.635%, 1M TSFR + 2.500%, 08/23/32 | 41667 | &nbsp;&nbsp;&nbsp; 41583 |
| Zekelman Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.408%, 1M TSFR + 2.250%, 01/24/31 | 236400 | &nbsp;&nbsp;&nbsp; 237050 |
|  |  | &nbsp;&nbsp;&nbsp; 377711 |
| **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** |
| Delek U.S. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, 7.763%, 1M TSFR + 3.500%, 11/19/29 | 149616 | &nbsp;&nbsp;&nbsp; 149559 |
| Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.150%, 1M TSFR + 2.000%, 02/11/30 | 113714 | &nbsp;&nbsp;&nbsp; 114117 |
|  |  | &nbsp;&nbsp;&nbsp; 263676 |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| Deep Blue Operating I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 09/17/32 (k) | 49722 | &nbsp;&nbsp;&nbsp; 49846 |
| Star Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 8.663%, 1M TSFR + 4.500%, <br> 07/31/31<br>| 248120 | &nbsp;&nbsp;&nbsp; 246686 |
|  |  | &nbsp;&nbsp;&nbsp; 296532 |
| **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** |
| Owens-Illinois Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/24/32 (k) | 123640 | &nbsp;&nbsp;&nbsp; 123563 |
| **Pipelines — 0.1%** | **Pipelines — 0.1%** | **Pipelines — 0.1%** |
| Epic Crude Services LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.828%, 3M TSFR + 2.500%, 10/15/31 | 139190 | &nbsp;&nbsp;&nbsp; 139451 |
| Oryx Midstream Services Permian Basin LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.416%, 1M TSFR + 2.250%, 10/05/28 | 157212 | &nbsp;&nbsp;&nbsp; 157507 |
| UGI Energy Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.663%, 1M TSFR + 2.500%, 02/22/30 | 166447 | &nbsp;&nbsp;&nbsp; 167435 |
|  |  | &nbsp;&nbsp;&nbsp; 464393 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B3, 6.913%, 1M TSFR + 2.750%, 01/31/30 | 227400 | &nbsp;&nbsp;&nbsp; 228821 |
| **Retail — 0.4%** | **Retail — 0.4%** | **Retail — 0.4%** |
| 1011778 B.C. Unlimited Liability Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B6, 5.913%, 1M TSFR + 1.750%, 09/20/30 | 248116 | &nbsp;&nbsp;&nbsp; 247712 |
| Dave & Buster's, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.563%, 3M TSFR + 3.250%, 06/29/29 | 250000 | &nbsp;&nbsp;&nbsp; 234010 |
| Flynn Restaurant Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan, 7.913%, 1M TSFR + 3.750%, <br> 01/28/32<br>| 213546 | &nbsp;&nbsp;&nbsp; 214213 |
| General Nutrition Centers, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 2nd Lien Term Loan, 10.263%, 1M TSFR + 6.100%, <br> 10/07/26<br>| 215807 | &nbsp;&nbsp;&nbsp; 146749 |
| Great Outdoors Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.413%, 1M TSFR + 3.250%, 01/23/32 | 209037 | &nbsp;&nbsp;&nbsp; 209592 |
| Highline Aftermarket Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.699%, 3M TSFR + 3.500%, 02/19/30 | 242429 | &nbsp;&nbsp;&nbsp; 243035 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Retail—(Continued)** | **Retail—(Continued)** | **Retail—(Continued)** |
| Kodiak Building Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.752%, 3M TSFR + 3.750%, 12/04/31 | 226646 | &nbsp;&nbsp;&nbsp; $225938 |
| Michaels Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 8.513%, 3M TSFR + 4.250%, 04/17/28 | 260 | &nbsp;&nbsp;&nbsp; 242 |
| Peer Holding III B.V. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B5B, 6.502%, 3M TSFR + 2.500%, <br> 07/01/31<br>| 177471 | &nbsp;&nbsp;&nbsp; 177887 |
| Petco Health & Wellness Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 7.513%, 3M TSFR + 3.250%, 03/03/28 | 125000 | &nbsp;&nbsp;&nbsp; 121987 |
| Specialty Building Products Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 8.013%, 1M TSFR + 3.750%, 10/15/28 | 248210 | &nbsp;&nbsp;&nbsp; 239585 |
| Whatabrands LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.663%, 1M TSFR + 2.500%, <br> 08/03/28<br>| 56163 | &nbsp;&nbsp;&nbsp; 56273 |
| White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.416%, 1M TSFR + 3.250%, 10/19/29 | 138011 | &nbsp;&nbsp;&nbsp; 138199 |
|  |  | &nbsp;&nbsp;&nbsp; 2255422 |
| **Semiconductors — 0.0%** | **Semiconductors — 0.0%** | **Semiconductors — 0.0%** |
| Altar Bidco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 02/01/29 (k) | 199484 | &nbsp;&nbsp;&nbsp; 199672 |
| **Software — 0.4%** | **Software — 0.4%** | **Software — 0.4%** |
| Adeia, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 6.663%, 1M TSFR + 2.500%, <br> 06/08/28<br>| 191537 | &nbsp;&nbsp;&nbsp; 192614 |
| Central Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.252%, 3M TSFR + 3.250%, 07/06/29 | 267672 | &nbsp;&nbsp;&nbsp; 231927 |
| Cloudera, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.013%, 1M TSFR + 3.750%, 10/08/28 | 248072 | &nbsp;&nbsp;&nbsp; 244506 |
| ConnectWise LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 7.763%, 3M TSFR + 3.500%, 09/29/28 | 89743 | &nbsp;&nbsp;&nbsp; 90002 |
| CoreLogic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 7.778%, 1M TSFR + 3.500%, 06/02/28 | 248062 | &nbsp;&nbsp;&nbsp; 248372 |
| Cotiviti Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 05/01/31 (k) | 124685 | &nbsp;&nbsp;&nbsp; 123633 |
| Flash Charm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 7.796%, 3M TSFR + 3.500%, 03/02/28 | 248108 | &nbsp;&nbsp;&nbsp; 219575 |
| Kaseya, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan B, 7.413%, 1M TSFR + 3.250%, <br> 03/20/32<br>| 247077 | &nbsp;&nbsp;&nbsp; 247739 |
| Playtika Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, 7.028%, 1M TSFR + 2.750%, 03/13/28 | 248052 | &nbsp;&nbsp;&nbsp; 244603 |
| Skopima Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Repriced Term Loan, 7.913%, 1M TSFR + 3.750%, <br> 05/12/28<br>| 248125 | &nbsp;&nbsp;&nbsp; 210906 |
|  |  | &nbsp;&nbsp;&nbsp; 2053877 |
| **Transportation — 0.2%** | **Transportation — 0.2%** | **Transportation — 0.2%** |
| First Student Bidco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.711%, 3M TSFR + 2.500%, 08/15/30 | 189761 | &nbsp;&nbsp;&nbsp; 190117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan C, 6.711%, 3M TSFR + 2.500%, 08/15/30 | 58186 | &nbsp;&nbsp;&nbsp; 58295 |
| Kenan Advantage Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, 7.413%, 1M TSFR + 3.250%, 01/25/29 | 257398 | &nbsp;&nbsp;&nbsp; 254180 |
| Rand Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 7.002%, 3M TSFR + 3.000%, 03/18/30 | 248747 | &nbsp;&nbsp;&nbsp; 247918 |

---

**BHFTI-121**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (j)—(Continued)**

**Short-Term Investments—2.2%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Transportation—(Continued)** | **Transportation—(Continued)** | **Transportation—(Continued)** |
| Worldwide Express Operations LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 8.002%, 3M TSFR + 4.000%, 07/26/28 | 267606 | &nbsp;&nbsp;&nbsp; $266435 |
|  |  | &nbsp;&nbsp;&nbsp; 1016945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Floating Rate Loans <br>(Cost $23,539,872) <br>|  | &nbsp;&nbsp;&nbsp; 23247976 |
| **Municipals—1.8%** | **Municipals—1.8%** | **Municipals—1.8%** |
| Curators of the University of Missouri |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.012%, 11/01/27 | 2000000 | &nbsp;&nbsp;&nbsp; 1926098 |
| Empire State Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 03/15/26 | 5950000 | &nbsp;&nbsp;&nbsp; 5900983 |
| Golden State Tobacco Securitization Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 06/01/50 | 1325000 | &nbsp;&nbsp;&nbsp; 1207246 |
| Texas State University System |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.351%, 03/15/26 | 1385000 | &nbsp;&nbsp;&nbsp; 1376982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Municipals <br>(Cost $10,634,356) <br>|  | &nbsp;&nbsp;&nbsp; 10411309 |
| **Foreign Government—0.4%** | **Foreign Government—0.4%** | **Foreign Government—0.4%** |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| Korea Electric Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 04/06/26 (144A) | 800000 | &nbsp;&nbsp;&nbsp; 804896 |
| **Sovereign — 0.3%** | **Sovereign — 0.3%** | **Sovereign — 0.3%** |
| Eagle Funding Luxco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/17/30 (144A) | 900000 | &nbsp;&nbsp;&nbsp; 913104 |
| Peru Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.783%, 01/23/31 (a) | 600000 | &nbsp;&nbsp;&nbsp; 552480 |
|  |  | &nbsp;&nbsp;&nbsp; 1465584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $2,325,271) <br>|  | &nbsp;&nbsp;&nbsp; 2270480 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks—0.0%** | **Common Stocks—0.0%** | **Common Stocks—0.0%** |
| **Retail — 0.0%** | **Retail — 0.0%** | **Retail — 0.0%** |
| KSouth Africa Ltd. (d) (e) (m) | 40457 | &nbsp;&nbsp;&nbsp; 618 |
| KSouth Africa Ltd. - Class A (d) (e) (m) | 8217950 | &nbsp;&nbsp;&nbsp; 0 |
| KSouth Africa Ltd. - Class B (d) (e) (m) | 817800 | &nbsp;&nbsp;&nbsp; 0 |
| Party City Holdco, Inc. (d) (e) (m) | 8 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $487,730) <br>|  | &nbsp;&nbsp;&nbsp; 618 |
| **Escrow Shares—0.0%** | **Escrow Shares—0.0%** | **Escrow Shares—0.0%** |
| **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanchez Energy Corp. (c) <br>(Cost $1,200,000)<br>| 1200000 | &nbsp;&nbsp;&nbsp; 120 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Discount Note—2.2%** | **Discount Note—2.2%** | **Discount Note—2.2%** |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/01/25 (n) | 12919000 | &nbsp;&nbsp;&nbsp; $12917554 |
| **Repurchase Agreement—0.0%** | **Repurchase Agreement—0.0%** | **Repurchase Agreement—0.0%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $114,251; collateralized <br> by U.S. Treasury Note at 0.125%, maturing 04/15/27, with a <br> market value of $116,640<br>| 114241 | &nbsp;&nbsp;&nbsp; 114241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $13,033,241) <br>|  | &nbsp;&nbsp;&nbsp; 13031795 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (o)—12.0%** | **Securities Lending Reinvestments (o)—12.0%** | **Securities Lending Reinvestments (o)—12.0%** |
| **Short-Term Investment Funds—0.5%** | **Short-Term Investment Funds—0.5%** | **Short-Term Investment Funds—0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (p)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (p)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (p)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 3000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.6%** | **Certificates of Deposit—1.6%** | **Certificates of Deposit—1.6%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1999997 |
| Canadian Imperial Bank of Commerce (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 08/11/26 (b) | 1300000 | &nbsp;&nbsp;&nbsp; 1301007 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, SOFR + 0.240%, 12/03/25 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1999956 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 02/11/26 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 999806 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2000110 |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1000174 |
|  |  | &nbsp;&nbsp;&nbsp; 9301050 |
| **Commercial Paper—0.3%** | **Commercial Paper—0.3%** | **Commercial Paper—0.3%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 1500000 | &nbsp;&nbsp;&nbsp; 1499638 |
| **Repurchase Agreements—8.4%** | **Repurchase Agreements—8.4%** | **Repurchase Agreements—8.4%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $3,000,352; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $7,000,830; collateralized <br> by various Common Stock with an aggregate market value of <br> $7,786,350<br>| 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |

---

**BHFTI-122**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (o)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $2,000,232; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $2,040,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $2,047,836; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,200,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $2,200,254; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $2,244,000<br>| 2200000 | &nbsp;&nbsp;&nbsp; 2200000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $2,083,320; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $2,124,739<br>| 2083077 | &nbsp;&nbsp;&nbsp; 2083077 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $10,008,361; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $11,121,879<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $4,016,956; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,444,982<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $2,400,273; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $2,448,000<br>| 2400000 | &nbsp;&nbsp;&nbsp; 2400000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $13,001,513; collateralized <br> by various Common Stock with an aggregate market value of <br> $14,301,664<br>| 13000000 | &nbsp;&nbsp;&nbsp; 13000000 |
|  |  | &nbsp;&nbsp;&nbsp; 49683077 |
| **Time Deposits—1.2%** | **Time Deposits—1.2%** | **Time Deposits—1.2%** |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 7000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $70,482,905) <br>|  | &nbsp;&nbsp;&nbsp; 70483765 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—111.7% <br>(Cost $659,326,433) <br>|  | &nbsp;&nbsp;&nbsp; 657182993 |
| Other assets and liabilities (net)—(11.7)%  |  | &nbsp;&nbsp;&nbsp; (68795963)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $588387030 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Principal amount stated in U.S. dollars unless otherwise noted. |
| † | Restricted securities are not registered under the Securities Act of 1933 and are subject to <br> legal restrictions on resale. These securities generally may be resold in transactions exempt <br> from registration or to the public if the securities are subsequently registered. Disposal of <br> these securities may involve time-consuming negotiations and prompt sale at an acceptable <br> price may be difficult. As of September 30, 2025, the market value of restricted securities <br> was $0, which is 0.0% of net assets. See details shown in the Restricted Securities table that <br> follows.<br>|
| (a) | All or a portion of the security was held on loan. As of September 30, 2025, the market value <br> of securities loaned was $77,999,349 and the collateral received consisted of cash in the <br> amount of $70,481,873 and non-cash collateral with a value of $9,919,379. The cash <br> collateral investments are disclosed in the Schedule of Investments and categorized as <br> Securities Lending Reinvestments. The non-cash collateral received consists of U.S. <br> government securities that are held in safe-keeping by the lending agent, or a third-party <br> custodian, and cannot be sold or repledged by the Portfolio.<br>|
| (b) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (c) | Non-income producing; security is in default and/or issuer is in bankruptcy. |
| (d) | Security was valued in good faith under procedures subject to oversight by the Board of <br> Trustees. As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (e) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. <br> Level 3.<br>|
| (f) | Principal amount of security is adjusted for inflation. |
| (g) | All or a portion of the security was pledged as collateral against open centrally cleared swap <br> contracts. As of September 30, 2025, the market value of securities pledged was <br> $2,073,758.<br>|
| (h) | Security is a "step up" bond where coupon increases or steps up at a predetermined date. <br> Rate shown is current coupon rate.<br>|
| (i) | Interest only security. |
| (j) | Floating rate loans ("Senior Loans") often require prepayments from excess cash flows or <br> permit the borrowers to repay at their election. The degree to which borrowers repay, <br> whether as a contractual requirement or at their election, cannot be predicted with accuracy. <br> As a result, the actual remaining maturity may be substantially less than the stated maturities <br> shown. However, Senior Loans will generally have an expected average life of approximately <br> two to four years. Senior Loans typically have rates of interest which are determined <br> periodically by reference to a base lending rate, plus a spread. These base rates are primarily <br> the Secured Overnight Financing Rate and secondarily, the prime rate offered by one or more <br>|

---

**BHFTI-123**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | major United States banks. Base lending rates may be subject to a floor, or a minimum rate. |
| (k) | This loan will settle after September 30, 2025, at which time the interest rate will be <br> determined.<br>|
| (l) | The stated interest rates represent the range of rates applicable to the underlying contracts <br> within the loan tranche as of September 30, 2025.<br>|
| (m) | Non-income producing security. |
| (n) | The rate shown represents current yield to maturity. |
| (o) | Represents investment of cash collateral received from securities on loan as of <br>|

---

---

| | |
|:---|:---|
|  | September 30, 2025. |
| (p) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $190,085,249, which is 32.3% of net assets.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Principal** <br>**Amount** | **Principal** <br>**Amount** | **Cost** | **Value** |
| KSouth Africa Ltd., 3.000%, 12/31/49 | 04/15/13-12/31/18 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 712186 | &nbsp;&nbsp; $1372248 | &nbsp;&nbsp; $0 |
| KSouth Africa Ltd., 25.000%, 12/31/49 | 12/22/16-12/31/18 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 313720 | &nbsp;&nbsp; 313720 | &nbsp;&nbsp; 0 |
|  |  |  |  |  | &nbsp;&nbsp; $0 |

---

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 572 | USD | 119203907 | &nbsp;&nbsp;&nbsp; $(85513)<br>|
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 141 | USD | 15396539 | &nbsp;&nbsp;&nbsp; (32139)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (23)<br>| USD | (2587500)<br>| &nbsp;&nbsp;&nbsp; 1406 |
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (5)<br>| USD | (575391)<br>| &nbsp;&nbsp;&nbsp; (2741)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp;&nbsp; $(118987)<br>|

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 12M SOFR | Annually | 4.000<br> %<br>| Annually | 08/26/27 | USD | 7900000 | &nbsp;&nbsp; $85120 | &nbsp;&nbsp; $2236 | &nbsp;&nbsp; $82884 |
| Pay | 12M SOFR | Annually | 4.110<br> %<br>| Annually | 02/24/27 | USD | 76500000 | &nbsp;&nbsp; 611451 | &nbsp;&nbsp; 87034 | &nbsp;&nbsp; 524417 |
| Receive | 12M SOFR | Annually | 4.000<br> %<br>| Annually | 02/26/35 | USD | 2300000 | &nbsp;&nbsp; (68348)<br>| &nbsp;&nbsp; 1135 | &nbsp;&nbsp; (69483)<br>|
| Receive | 12M SOFR | Annually | 4.060<br> %<br>| Annually | 02/25/30 | USD | 17100000 | &nbsp;&nbsp; (481510)<br>| &nbsp;&nbsp; 4728 | &nbsp;&nbsp; (486238)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $146713 | &nbsp;&nbsp; $95133 | &nbsp;&nbsp; $51580 |

---

**Centrally Cleared Credit Default Swap Contracts on Credit Indices—Sell Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| CDX.NA.IG.S45 | 1.000% | &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/20/30 | &nbsp;&nbsp; 0.519% | &nbsp;&nbsp; USD | 31925000 | &nbsp;&nbsp; $723356 | &nbsp;&nbsp; $731449 | &nbsp;&nbsp; $(8093) |

---

**BHFTI-124**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**OTC Credit Default Swap Contracts on Corporate Issues—Sell Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| &nbsp;&nbsp;&nbsp; Carnival Corp. <br>6.650%, due 01/15/28<br>| 1.000<br> %<br>| &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 06/21/27<br> &nbsp;&nbsp; CBNA | 0.438<br> %<br>| &nbsp;&nbsp; USD | 685000 | &nbsp;&nbsp; $6455 | &nbsp;&nbsp; $(42415)<br>| &nbsp;&nbsp; $48870 |

---

**OTC Credit Default Swap Contracts on Credit Indices—Sell Protection (a)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| CDX.NA.HY.S39 (15-25% Tranche) | 5.000% | &nbsp;&nbsp; Quarterly | 12/21/27 | JPMC | 0.967<br> %<br>| USD | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; $164432 | &nbsp;&nbsp; $51216 | &nbsp;&nbsp; $113216 |
| CDX.NA.IG.S41 (3-7% Tranche) | 1.000% | &nbsp;&nbsp; Quarterly | 12/21/28 | CBNA | 0.309<br> %<br>| USD | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 105592 | &nbsp;&nbsp; (107593)<br>| &nbsp;&nbsp; 213185 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $270024 | &nbsp;&nbsp; $(56377)<br>| &nbsp;&nbsp; $326401 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

Securities in the amount of $204,373 have been received at the custodian bank as collateral for OTC swap contracts.

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Corporate Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace/Defense | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $5720642 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $5720642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agriculture | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 916191 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 916191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airlines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 497860 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 497860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apparel | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 112052 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 112052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Auto Manufacturers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9742216 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9742216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 72171098 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 72171098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2231088 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2231088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 629708 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 629708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Materials | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2821589 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2821589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1778898 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1778898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1406772 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1406772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3364691 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3364691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Financial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9432624 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9432624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16190639 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16190639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Components & Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1132539 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1132539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1877825 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1877825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3783611 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3783611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 319656 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 319656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2907723 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2907723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5695093 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5695093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Builders | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3034261 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3034261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11466748 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11466748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Time | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 306296 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 306296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lodging | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1165369 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1165369 |

---

**BHFTI-125**

------

**Brighthouse Funds Trust I**

**Brighthouse/Franklin Low Duration Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $525390 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $525390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery-Diversified | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1187413 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1187413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2364915 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2364915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1127479 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1127479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-National | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1301316 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1301316 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Gas | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8868637 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8868637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging & Containers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 717486 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 717486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6061945 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6061945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pipelines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5089749 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5089749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8052807 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8052807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5733742 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5733742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1416116 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1416116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telecommunications | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4795510 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4795510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36388 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trucking & Leasing | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2814650 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2814650 |
| Total Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 208798732 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 208798732 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 113354553 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 113354553 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 99284614 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 99284614 |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69101730 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69101730 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47197301 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47197301 |
| Total Floating Rate Loans\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23247976 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23247976 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10411309 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10411309 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2270480 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2270480 |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 618 | &nbsp;&nbsp;&nbsp; 618 |
| Total Escrow Shares\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 120 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13031795 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13031795 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9301050 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9301050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1499638 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1499638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 49683077 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 49683077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 67483765 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 70483765 |
| Total Investments | &nbsp;&nbsp;&nbsp; $3000000 | &nbsp;&nbsp;&nbsp; $654182375 | &nbsp;&nbsp;&nbsp; $618 | &nbsp;&nbsp;&nbsp; $657182993 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(70481873)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(70481873)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $1406 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (120393)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (120393)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $(118987)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(118987)<br>|
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $607301 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $607301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (563814)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (563814)<br>|
| Total Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $43487 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $43487 |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Assets) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $276479 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $276479 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-126**

------

**Brighthouse Funds Trust I**

**Brighthouse/Templeton International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—82.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Australia — 10.6%** | **Australia — 10.6%** | **Australia — 10.6%** |
| New South Wales Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 03/20/34 (AUD) | 6419000 | &nbsp;&nbsp;&nbsp; $3367550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/08/33 (AUD) | 16478000 | &nbsp;&nbsp;&nbsp; 9164821 |
| Queensland Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 07/20/34 (AUD) (144A) | 15808000 | &nbsp;&nbsp;&nbsp; 8160593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/22/33 (AUD) | 9320000 | &nbsp;&nbsp;&nbsp; 5086639 |
| Treasury Corp. of Victoria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/20/37 (AUD) | 23416000 | &nbsp;&nbsp;&nbsp; 10967687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/20/34 (AUD) | 2047000 | &nbsp;&nbsp;&nbsp; 1092417 |
|  |  | &nbsp;&nbsp;&nbsp; 37839707 |
| **Brazil — 8.9%** | **Brazil — 8.9%** | **Brazil — 8.9%** |
| Brazil Notas do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 01/01/29 (BRL) | 10615000 | &nbsp;&nbsp;&nbsp; 1833777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 01/01/31 (BRL) | 132631000 | &nbsp;&nbsp;&nbsp; 21825536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 01/01/33 (BRL) | 52045000 | &nbsp;&nbsp;&nbsp; 8251528 |
|  |  | &nbsp;&nbsp;&nbsp; 31910841 |
| **Colombia — 7.3%** | **Colombia — 7.3%** | **Colombia — 7.3%** |
| Colombia TES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/09/36 (COP) | 4082000000 | &nbsp;&nbsp;&nbsp; 718703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/26/31 (COP) | 9039100000 | &nbsp;&nbsp;&nbsp; 1917829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/30/32 (COP) | 19600000000 | &nbsp;&nbsp;&nbsp; 3999544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/18/34 (COP) | 11954000000 | &nbsp;&nbsp;&nbsp; 2350849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 09/18/30 (COP) | 30604100000 | &nbsp;&nbsp;&nbsp; 6901407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 05/28/42 (COP) | 18685000000 | &nbsp;&nbsp;&nbsp; 3885403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13.250%, 02/09/33 (COP) | 22995000000 | &nbsp;&nbsp;&nbsp; 6335700 |
|  |  | &nbsp;&nbsp;&nbsp; 26109435 |
| **Egypt — 7.4%** | **Egypt — 7.4%** | **Egypt — 7.4%** |
| Egypt Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 01/31/47 (144A) | 2830000 | &nbsp;&nbsp;&nbsp; 2493087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.700%, 03/01/49 (144A) | 1700000 | &nbsp;&nbsp;&nbsp; 1509004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 09/30/51 (144A) | 1430000 | &nbsp;&nbsp;&nbsp; 1273740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 05/29/50 (144A) | 3810000 | &nbsp;&nbsp;&nbsp; 3431853 |
| Egypt Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 24.500%, 12/02/25 (EGP) (a) | 892900000 | &nbsp;&nbsp;&nbsp; 17829605 |
|  |  | &nbsp;&nbsp;&nbsp; 26537289 |
| **Ghana — 0.8%** | **Ghana — 0.8%** | **Ghana — 0.8%** |
| Republic of Ghana Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.350%, 3.350% PIK, 02/16/27 (GHS) (b) | 5711308 | &nbsp;&nbsp;&nbsp; 412520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 3.500% PIK, 02/15/28 (GHS) (b) | 5369603 | &nbsp;&nbsp;&nbsp; 364052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.650%, 3.650% PIK, 02/13/29 (GHS) (b) | 6642607 | &nbsp;&nbsp;&nbsp; 426442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.800%, 3.800% PIK, 02/12/30 (GHS) (b) | 5865285 | &nbsp;&nbsp;&nbsp; 359642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.950%, 3.950% PIK, 02/11/31 (GHS) (b) | 6806162 | &nbsp;&nbsp;&nbsp; 401401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.100%, 4.100% PIK, 02/10/32 (GHS) (b) | 4631448 | &nbsp;&nbsp;&nbsp; 264760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 4.250% PIK, 02/08/33 (GHS) (b) | 4060546 | &nbsp;&nbsp;&nbsp; 226388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.400%, 4.400% PIK, 02/07/34 (GHS) (b) | 1440492 | &nbsp;&nbsp;&nbsp; 78768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.550%, 4.550% PIK, 02/06/35 (GHS) (b) | 803785 | &nbsp;&nbsp;&nbsp; 43325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.700%, 4.700% PIK, 02/05/36 (GHS) (b) | 1234209 | &nbsp;&nbsp;&nbsp; 65864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.850%, 4.850% PIK, 02/03/37 (GHS) (b) | 942653 | &nbsp;&nbsp;&nbsp; 49995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 5.000% PIK, 02/02/38 (GHS) (b) | 1364921 | &nbsp;&nbsp;&nbsp; 72174 |
|  |  | &nbsp;&nbsp;&nbsp; 2765331 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Greece — 1.5%** | **Greece — 1.5%** | **Greece — 1.5%** |
| Hellenic Republic Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 06/15/34 (EUR) (144A) | 2265000 | &nbsp;&nbsp;&nbsp; $2682803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/15/33 (EUR) (144A) | 2004000 | &nbsp;&nbsp;&nbsp; 2531020 |
|  |  | &nbsp;&nbsp;&nbsp; 5213823 |
| **India — 6.2%** | **India — 6.2%** | **India — 6.2%** |
| India Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.790%, 05/15/27 (INR) | 24810000 | &nbsp;&nbsp;&nbsp; 282773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.790%, 10/07/34 (INR) | 234400000 | &nbsp;&nbsp;&nbsp; 2657105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 04/18/29 (INR) | 131600000 | &nbsp;&nbsp;&nbsp; 1526522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 04/08/34 (INR) | 95110000 | &nbsp;&nbsp;&nbsp; 1099056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.180%, 08/14/33 (INR) | 778400000 | &nbsp;&nbsp;&nbsp; 9027139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.260%, 08/22/32 (INR) | 658300000 | &nbsp;&nbsp;&nbsp; 7684491 |
|  |  | &nbsp;&nbsp;&nbsp; 22277086 |
| **Malaysia — 8.6%** | **Malaysia — 8.6%** | **Malaysia — 8.6%** |
| Malaysia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.582%, 07/15/32 (MYR) | 29727000 | &nbsp;&nbsp;&nbsp; 7129959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.733%, 06/15/28 (MYR) | 7220000 | &nbsp;&nbsp;&nbsp; 1741456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.885%, 08/15/29 (MYR) | 1440000 | &nbsp;&nbsp;&nbsp; 350296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.899%, 11/16/27 (MYR) | 72760000 | &nbsp;&nbsp;&nbsp; 17580048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.498%, 04/15/30 (MYR) | 16474000 | &nbsp;&nbsp;&nbsp; 4118359 |
|  |  | &nbsp;&nbsp;&nbsp; 30920118 |
| **Mexico — 3.7%** | **Mexico — 3.7%** | **Mexico — 3.7%** |
| Mexico Bonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/29/31 (MXN) | 19550000 | &nbsp;&nbsp;&nbsp; 1040179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/01/29 (MXN) | 35670000 | &nbsp;&nbsp;&nbsp; 1971584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 05/31/29 (MXN) | 86600000 | &nbsp;&nbsp;&nbsp; 4788665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 02/28/30 (MXN) | 99060000 | &nbsp;&nbsp;&nbsp; 5463432 |
|  |  | &nbsp;&nbsp;&nbsp; 13263860 |
| **Norway — 4.5%** | **Norway — 4.5%** | **Norway — 4.5%** |
| Norway Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 02/17/27 (NOK) (144A) | 164831000 | &nbsp;&nbsp;&nbsp; 16062729 |
| **Panama — 4.7%** | **Panama — 4.7%** | **Panama — 4.7%** |
| Panama Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.252%, 09/29/32 | 340000 | &nbsp;&nbsp;&nbsp; 274788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.298%, 01/19/33 | 290000 | &nbsp;&nbsp;&nbsp; 248661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 02/14/35 (c) | 3100000 | &nbsp;&nbsp;&nbsp; 3201370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 01/26/36 | 310000 | &nbsp;&nbsp;&nbsp; 326910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/31/36 (c) | 1970000 | &nbsp;&nbsp;&nbsp; 2091943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/01/38 | 9500000 | &nbsp;&nbsp;&nbsp; 10811950 |
|  |  | &nbsp;&nbsp;&nbsp; 16955622 |
| **South Africa — 6.6%** | **South Africa — 6.6%** | **South Africa — 6.6%** |
| Republic of South Africa Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 01/31/37 (ZAR) | 167321000 | &nbsp;&nbsp;&nbsp; 8913472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 01/31/44 (ZAR) | 81417600 | &nbsp;&nbsp;&nbsp; 4098948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/28/35 (ZAR) | 19320000 | &nbsp;&nbsp;&nbsp; 1097305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 01/31/40 (ZAR) | 180730000 | &nbsp;&nbsp;&nbsp; 9576542 |
|  |  | &nbsp;&nbsp;&nbsp; 23686267 |

---

**BHFTI-127**

------

**Brighthouse Funds Trust I**

**Brighthouse/Templeton International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **South Korea — 3.7%** | **South Korea — 3.7%** | **South Korea — 3.7%** |
| Korea Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 09/10/27 (KRW) | 18121100000 | &nbsp;&nbsp;&nbsp; $13050709 |
| **Spain — 4.4%** | **Spain — 4.4%** | **Spain — 4.4%** |
| Spain Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 04/30/35 (EUR) (144A) | 12510000 | &nbsp;&nbsp;&nbsp; 14630534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 10/31/33 (EUR) (144A) | 1037000 | &nbsp;&nbsp;&nbsp; 1262793 |
|  |  | &nbsp;&nbsp;&nbsp; 15893327 |
| **Uruguay — 3.1%** | **Uruguay — 3.1%** | **Uruguay — 3.1%** |
| Uruguay Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/02/40 (UYU) (d) | 421624250 | &nbsp;&nbsp;&nbsp; 11243666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $294,700,443) <br>|  | &nbsp;&nbsp;&nbsp; 293729810 |
| **Corporate Bonds & Notes—4.3%** | **Corporate Bonds & Notes—4.3%** | **Corporate Bonds & Notes—4.3%** |
| **Supranational — 4.3%** | **Supranational — 4.3%** | **Supranational — 4.3%** |
| International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.890%, 02/06/30 (INR) | 900000000 | &nbsp;&nbsp;&nbsp; 10209503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.070%, 06/26/29 (MXN) | 98200000 | &nbsp;&nbsp;&nbsp; 5316170 |
|  |  | &nbsp;&nbsp;&nbsp; 15525673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $15,930,153) <br>|  | &nbsp;&nbsp;&nbsp; 15525673 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—12.4%** | **Short-Term Investments—12.4%** | **Short-Term Investments—12.4%** |
| **U.S. Treasury — 7.3%** | **U.S. Treasury — 7.3%** | **U.S. Treasury — 7.3%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 10/02/25 (a) | 26000000 | &nbsp;&nbsp;&nbsp; 25997096 |
| **Discount Note — 5.1%** |  |  |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/01/25 (a) | 18200000 | &nbsp;&nbsp;&nbsp; 18197963 |
| **Repurchase Agreement — 0.0%** | **Repurchase Agreement — 0.0%** | **Repurchase Agreement — 0.0%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25 with a maturity value of $179,766; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $183,488<br>| 179751 | &nbsp;&nbsp;&nbsp; 179751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $44,376,898) <br>|  | &nbsp;&nbsp;&nbsp; 44374810 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—0.6%** | **Securities Lending Reinvestments (e)—0.6%** | **Securities Lending Reinvestments (e)—0.6%** |
| **Short-Term Investment Funds — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class, 4.070% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares, 4.020% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class , 4.040% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds — (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares, 3.990% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; $250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class, 4.050% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares, 4.050% (f)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares, 4.060% (f)<br>| 125000 | &nbsp;&nbsp;&nbsp; 125000 |
|  |  | &nbsp;&nbsp;&nbsp; 1875000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements — 0.1%** | **Repurchase Agreements — 0.1%** | **Repurchase Agreements — 0.1%** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due <br> on 10/01/25 with a maturity value of $19,293; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 0.000% - 4.625%, maturity dates ranging <br> from 10/28/25 - 05/15/35, and an aggregate market <br> value of $19,677<br>| 19291 | &nbsp;&nbsp;&nbsp; 19291 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due <br> on 10/01/25 with a maturity value of $235,813; <br> collateralized by U.S. Treasury Obligations with zero <br> coupon, maturity dates ranging from 11/15/35 - <br> 08/15/55, and an aggregate market value of $240,502<br>| 235786 | &nbsp;&nbsp;&nbsp; 235786 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due <br> on 10/01/25 with a maturity value of $20,505; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 0.125% - 2.375%, maturity dates ranging <br> from 05/31/26 - 07/15/30, and an aggregate market <br> value of $20,913<br>| 20503 | &nbsp;&nbsp;&nbsp; 20503 |
|  |  | &nbsp;&nbsp;&nbsp; 275580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $2,150,580) <br>|  | &nbsp;&nbsp;&nbsp; 2150580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Purchased Options—0.1%(g) <br>(Cost $923,467) <br>|  | &nbsp;&nbsp;&nbsp; 369226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.4% <br>(Cost $358,081,541) <br>|  | &nbsp;&nbsp;&nbsp; 356150099 |
| Other assets and liabilities (net)—0.6%  |  | &nbsp;&nbsp;&nbsp; 2155207 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $358305306 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) The rate shown represents current yield to maturity.

(b) Payment-in kind security for which part of the income earned may be paid as additional principal. 

(c) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $2,240,477 and the collateral received consisted of cash in the amount of $2,150,580 and non-cash collateral with a value of $159,574. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(d) Principal amount of security is adjusted for inflation.

(e) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(f) The rate shown represents the annualized seven-day yield as of September 30, 2025.

**BHFTI-128**

------

**Brighthouse Funds Trust I**

**Brighthouse/Templeton International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(g) For a breakout of open positions, see details shown in the Purchased Options table that follows.

&nbsp;&nbsp;&nbsp;&nbsp;(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be resold in transactions exempt from registration, normally to qualified

institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $54,038,156, which is 15.1% of net assets.<br>

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| CLP | &nbsp;&nbsp; 1979400000 | HSBC | 10/27/25 | USD | 2112442 | &nbsp;&nbsp; $(53378)<br>|
| CLP | &nbsp;&nbsp; 2435700000 | HSBC | 12/16/25 | USD | 2549937 | &nbsp;&nbsp; (16620)<br>|
| CLP | &nbsp;&nbsp; 2238400000 | JPMC | 10/27/25 | USD | 2388162 | &nbsp;&nbsp; (59674)<br>|
| CLP | &nbsp;&nbsp; 1521500000 | JPMC | 12/04/25 | USD | 1561586 | &nbsp;&nbsp; 21000 |
| EGP | &nbsp;&nbsp; 171631000 | HSBC | 06/17/26 | USD | 3200578 | &nbsp;&nbsp; 16829 |
| EUR | &nbsp;&nbsp; 4120123 | BOA | 10/15/25 | USD | 4781324 | &nbsp;&nbsp; 59748 |
| EUR | &nbsp;&nbsp; 4370000 | BBP | 10/16/25 | USD | 5072915 | &nbsp;&nbsp; 62069 |
| EUR | &nbsp;&nbsp; 1236000 | BNP | 10/15/25 | USD | 1434261 | &nbsp;&nbsp; 18018 |
| JPY | &nbsp;&nbsp; 187851130 | JPMC | 02/13/26 | USD | 1295605 | &nbsp;&nbsp; (8788)<br>|
| JPY | &nbsp;&nbsp; 4008433000 | MSCS | 10/07/25 | USD | 28027864 | &nbsp;&nbsp; (908427)<br>|
| JPY | &nbsp;&nbsp; 1546844000 | MSCS | 10/07/25 | USD | 10903711 | &nbsp;&nbsp; (438389)<br>|
| JPY | &nbsp;&nbsp; 5555277000 | MSCS | 11/10/25 | USD | 37723508 | &nbsp;&nbsp; (6466)<br>|
| JPY | &nbsp;&nbsp; 4929871000 | MSCS | 11/10/25 | USD | 33476644 | &nbsp;&nbsp; (5738)<br>|
| KRW | &nbsp;&nbsp; 19421000000 | JPMC | 12/17/25 | USD | 14057094 | &nbsp;&nbsp; (162525)<br>|
| MXN | &nbsp;&nbsp; 3953377 | BNP | 12/10/25 | USD | 210090 | &nbsp;&nbsp; 4197 |
| MXN | &nbsp;&nbsp; 10878660 | BNP | 02/27/26 | USD | 574678 | &nbsp;&nbsp; 10067 |
| MXN | &nbsp;&nbsp; 4025000 | HSBC | 12/10/25 | USD | 213885 | &nbsp;&nbsp; 4284 |
| MXN | &nbsp;&nbsp; 22784239 | HSBC | 02/27/26 | USD | 1203681 | &nbsp;&nbsp; 21009 |
| MXN | &nbsp;&nbsp; 239610000 | JPMC | 02/27/26 | USD | 12659692 | &nbsp;&nbsp; 219735 |
| RSD | &nbsp;&nbsp; 188900280 | DBAG | 01/20/26 | USD | 1876617 | &nbsp;&nbsp; 14266 |
| RSD | &nbsp;&nbsp; 831323473 | DBAG | 03/17/26 | USD | 8329060 | &nbsp;&nbsp; (14085)<br>|
| RSD | &nbsp;&nbsp; 104954000 | DBAG | 04/01/26 | USD | 1047612 | &nbsp;&nbsp; 1927 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| CNH | &nbsp;&nbsp; 44737762 | CBNA | 11/17/25 | USD | 6292231 | &nbsp;&nbsp; (1122)<br>|
| CNH | &nbsp;&nbsp; 44960770 | CBNA | 02/24/26 | USD | 6333930 | &nbsp;&nbsp; (29935)<br>|
| CNH | &nbsp;&nbsp; 2301915 | DBAG | 12/17/25 | USD | 323325 | &nbsp;&nbsp; (1146)<br>|
| CNH | &nbsp;&nbsp; 44926665 | DBAG | 02/24/26 | USD | 6328323 | &nbsp;&nbsp; (30714)<br>|
| CNH | &nbsp;&nbsp; 75487460 | HSBC | 12/17/25 | USD | 10643730 | &nbsp;&nbsp; 3245 |
| CNH | &nbsp;&nbsp; 154661000 | HSBC | 03/30/26 | USD | 21939598 | &nbsp;&nbsp; 5114 |
| CNH | &nbsp;&nbsp; 35742451 | JPMC | 11/21/25 | USD | 5004123 | &nbsp;&nbsp; (25221)<br>|
| CNH | &nbsp;&nbsp; 167009000 | MSCS | 01/26/26 | USD | 23647225 | &nbsp;&nbsp; 48127 |
| EUR | &nbsp;&nbsp; 4120123 | BOA | 10/15/25 | USD | 4845964 | &nbsp;&nbsp; 4893 |
| EUR | &nbsp;&nbsp; 8778795 | BBP | 10/16/25 | USD | 10316735 | &nbsp;&nbsp; 1181 |
| EUR | &nbsp;&nbsp; 1236000 | BNP | 10/15/25 | USD | 1453373 | &nbsp;&nbsp; 1095 |
| EUR | &nbsp;&nbsp; 8779000 | JPMC | 10/16/25 | USD | 10318696 | &nbsp;&nbsp; 2901 |
| JPY | &nbsp;&nbsp; 5555277000 | MSCS | 10/07/25 | USD | 37588101 | &nbsp;&nbsp; 3342 |
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp; $(1239181)<br>|

---

**Purchased Options** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Options** | **Strike** <br>**Price** | **Strike** <br>**Price** | **Expiration** <br>**Date**<br>| **Counterparty** | **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Paid**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| USD Call / JPY Put | JPY | 153.720 | 11/06/25 | MSCS | 48772000 | USD | 48772000 | $154705 | $49211 | $(105494)<br>|
| USD Put / JPY Call | JPY | 135.000 | 11/06/25 | MSCS | 24386000 | USD | 24386000 | 23288 | 3731 | (19557)<br>|

---

**BHFTI-129**

------

**Brighthouse Funds Trust I**

**Brighthouse/Templeton International Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Purchased Options — (Continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Options** | **Strike**<br> **Price** | **Strike**<br> **Price** | **Expiration**<br> **Date**<br>| **Counterparty** | **Number of**<br> **Contracts**<br>| **Notional**<br> **Amount** | **Notional**<br> **Amount** | **Premiums**<br> **Paid**<br>| **Market**<br> **Value**<br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| USD Put / JPY Call | JPY | 142.500 | 11/06/25 | MSCS | 121929000 | USD | 121929000 | $745474 | $316284 | $(429190)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $923467 | $369226 | $(554241)<br>|

---

**Written Options** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Options** | **Strike** <br>**Price** | **Strike** <br>**Price** | **Expiration** <br>**Date**<br>| **Counterparty** | **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Received**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| USD Call / JPY Put | JPY | 150.530 | 11/06/25 | MSCS | (48772000)<br>| USD | (48772000)<br>| $(380226)<br>| $(182505)<br>| $197721 |
| USD Put / JPY Call | JPY | 138.000 | 11/06/25 | MSCS | (121929000)<br>| USD | (121929000)<br>| (249955)<br>| (64013)<br>| 185942 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $(630181)<br>| $(246518)<br>| $383663 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $293729810 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $293729810 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15525673 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15525673 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44374810 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44374810 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1875000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 275580 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 275580 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp; 275580 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2150580 |
| Total Purchased Options At Value\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 369226 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 369226 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1875000 | &nbsp;&nbsp;&nbsp; $354275099 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $356150099 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(2150580)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(2150580)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 523047 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 523047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1762228)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1762228)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1239181)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1239181)<br>|
| Total Written Options at Value | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(246518)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(246518)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-130**

------

**Brighthouse Funds Trust I**

**Brighthouse/Wellington Large Cap Research Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—99.7% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** |
| Boeing Co. (a) | 52289 | &nbsp;&nbsp;&nbsp; $11285535 |
| L3Harris Technologies, Inc.  | 7726 | &nbsp;&nbsp;&nbsp; 2359598 |
| Loar Holdings, Inc. (a) (b) | 17913 | &nbsp;&nbsp;&nbsp; 1433040 |
| Northrop Grumman Corp.  | 16543 | &nbsp;&nbsp;&nbsp; 10079981 |
| RTX Corp.  | 18797 | &nbsp;&nbsp;&nbsp; 3145302 |
| StandardAero, Inc. (a) (b) | 289902 | &nbsp;&nbsp;&nbsp; 7911425 |
|  |  | &nbsp;&nbsp;&nbsp; 36214881 |
| **Air Freight & Logistics — 0.6%** | **Air Freight & Logistics — 0.6%** | **Air Freight & Logistics — 0.6%** |
| CH Robinson Worldwide, Inc.  | 104508 | &nbsp;&nbsp;&nbsp; 13836859 |
| **Automobile Components — 0.3%** | **Automobile Components — 0.3%** | **Automobile Components — 0.3%** |
| Goodyear Tire & Rubber Co. (a) (b) | 337729 | &nbsp;&nbsp;&nbsp; 2526213 |
| Modine Manufacturing Co. (a) (b) | 35328 | &nbsp;&nbsp;&nbsp; 5022228 |
|  |  | &nbsp;&nbsp;&nbsp; 7548441 |
| **Automobiles — 1.5%** | **Automobiles — 1.5%** | **Automobiles — 1.5%** |
| Tesla, Inc. (a) | 84715 | &nbsp;&nbsp;&nbsp; 37674455 |
| **Banks — 3.1%** | **Banks — 3.1%** | **Banks — 3.1%** |
| JPMorgan Chase & Co.  | 18867 | &nbsp;&nbsp;&nbsp; 5951218 |
| KeyCorp | 710093 | &nbsp;&nbsp;&nbsp; 13271638 |
| Wells Fargo & Co.  | 682916 | &nbsp;&nbsp;&nbsp; 57242019 |
|  |  | &nbsp;&nbsp;&nbsp; 76464875 |
| **Beverages — 1.2%** | **Beverages — 1.2%** | **Beverages — 1.2%** |
| Celsius Holdings, Inc. (a) | 52818 | &nbsp;&nbsp;&nbsp; 3036507 |
| Coca-Cola Co.  | 219227 | &nbsp;&nbsp;&nbsp; 14539135 |
| Monster Beverage Corp. (a) | 76832 | &nbsp;&nbsp;&nbsp; 5171562 |
| PepsiCo, Inc.  | 37283 | &nbsp;&nbsp;&nbsp; 5236024 |
| Vita Coco Co., Inc. (a) | 53915 | &nbsp;&nbsp;&nbsp; 2289770 |
|  |  | &nbsp;&nbsp;&nbsp; 30272998 |
| **Biotechnology — 2.1%** | **Biotechnology — 2.1%** | **Biotechnology — 2.1%** |
| AbbVie, Inc.  | 48353 | &nbsp;&nbsp;&nbsp; 11195654 |
| Akero Therapeutics, Inc. (a) (b) | 10237 | &nbsp;&nbsp;&nbsp; 486053 |
| Alnylam Pharmaceuticals, Inc. (a) (b) | 3740 | &nbsp;&nbsp;&nbsp; 1705440 |
| Argenx SE (ADR) (a) | 3630 | &nbsp;&nbsp;&nbsp; 2677343 |
| Ascendis Pharma AS (ADR) (a) | 6647 | &nbsp;&nbsp;&nbsp; 1321490 |
| Avidity Biosciences, Inc. (a) | 40722 | &nbsp;&nbsp;&nbsp; 1774257 |
| Cytokinetics, Inc. (a) | 49249 | &nbsp;&nbsp;&nbsp; 2706725 |
| Disc Medicine, Inc. (a) | 9282 | &nbsp;&nbsp;&nbsp; 613355 |
| Exact Sciences Corp. (a) | 3296 | &nbsp;&nbsp;&nbsp; 180324 |
| Gilead Sciences, Inc.  | 68788 | &nbsp;&nbsp;&nbsp; 7635468 |
| Ionis Pharmaceuticals, Inc. (a) | 10760 | &nbsp;&nbsp;&nbsp; 703919 |
| Kymera Therapeutics, Inc. (a) | 11694 | &nbsp;&nbsp;&nbsp; 661880 |
| Merus NV (a) | 4558 | &nbsp;&nbsp;&nbsp; 429136 |
| Metsera, Inc. (a) (b) | 16052 | &nbsp;&nbsp;&nbsp; 840001 |
| Monopar Therapeutics, Inc. (a) | 7818 | &nbsp;&nbsp;&nbsp; 638496 |
| Natera, Inc. (a) | 1472 | &nbsp;&nbsp;&nbsp; 236948 |
| Newamsterdam Pharma Co. NV (a) (b) | 82600 | &nbsp;&nbsp;&nbsp; 2349144 |
| PTC Therapeutics, Inc. (a) | 12425 | &nbsp;&nbsp;&nbsp; 762522 |
| Revolution Medicines, Inc. (a) (b) | 37442 | &nbsp;&nbsp;&nbsp; 1748541 |
| Scholar Rock Holding Corp. (a) (b) | 14040 | &nbsp;&nbsp;&nbsp; 522850 |
| Soleno Therapeutics, Inc. (a) (b) | 10226 | &nbsp;&nbsp;&nbsp; 691278 |
| Ultragenyx Pharmaceutical, Inc. (a) (b) | 14279 | &nbsp;&nbsp;&nbsp; 429512 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Biotechnology—(Continued)** | **Biotechnology—(Continued)** | **Biotechnology—(Continued)** |
| United Therapeutics Corp. (a) | 8752 | &nbsp;&nbsp;&nbsp; $3668926 |
| Vertex Pharmaceuticals, Inc. (a) | 20602 | &nbsp;&nbsp;&nbsp; 8068567 |
|  |  | &nbsp;&nbsp;&nbsp; 52047829 |
| **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** |
| Amazon.com, Inc. (a) | 515837 | &nbsp;&nbsp;&nbsp; 113262330 |
| **Building Products — 0.7%** | **Building Products — 0.7%** | **Building Products — 0.7%** |
| AAON, Inc. (b) | 99198 | &nbsp;&nbsp;&nbsp; 9269061 |
| Builders FirstSource, Inc. (a) | 18827 | &nbsp;&nbsp;&nbsp; 2282774 |
| Johnson Controls International PLC | 55733 | &nbsp;&nbsp;&nbsp; 6127843 |
|  |  | &nbsp;&nbsp;&nbsp; 17679678 |
| **Capital Markets — 4.7%** | **Capital Markets — 4.7%** | **Capital Markets — 4.7%** |
| ARES Management Corp. - Class A | 58797 | &nbsp;&nbsp;&nbsp; 9401052 |
| Goldman Sachs Group, Inc.  | 58201 | &nbsp;&nbsp;&nbsp; 46348367 |
| Intercontinental Exchange, Inc.  | 117606 | &nbsp;&nbsp;&nbsp; 19814259 |
| KKR & Co., Inc.  | 313720 | &nbsp;&nbsp;&nbsp; 40767914 |
|  |  | &nbsp;&nbsp;&nbsp; 116331592 |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| Celanese Corp. (b) | 57505 | &nbsp;&nbsp;&nbsp; 2419811 |
| FMC Corp. (b) | 95351 | &nbsp;&nbsp;&nbsp; 3206654 |
| Ingevity Corp. (a) | 17175 | &nbsp;&nbsp;&nbsp; 947888 |
| Linde PLC | 39672 | &nbsp;&nbsp;&nbsp; 18844200 |
| PPG Industries, Inc. (b) | 89003 | &nbsp;&nbsp;&nbsp; 9355105 |
|  |  | &nbsp;&nbsp;&nbsp; 34773658 |
| **Commercial Services & Supplies — 1.0%** | **Commercial Services & Supplies — 1.0%** | **Commercial Services & Supplies — 1.0%** |
| Clean Harbors, Inc. (a) (b) | 78212 | &nbsp;&nbsp;&nbsp; 18162391 |
| Waste Connections, Inc.  | 34316 | &nbsp;&nbsp;&nbsp; 6032753 |
|  |  | &nbsp;&nbsp;&nbsp; 24195144 |
| **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** |
| Arista Networks, Inc. (a) | 100118 | &nbsp;&nbsp;&nbsp; 14588194 |
| **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** |
| Fluor Corp. (a) | 76720 | &nbsp;&nbsp;&nbsp; 3227610 |
| **Construction Materials — 0.5%** | **Construction Materials — 0.5%** | **Construction Materials — 0.5%** |
| James Hardie Industries PLC (a) (b) | 692434 | &nbsp;&nbsp;&nbsp; 13301657 |
| **Consumer Staples Distribution & Retail — 2.2%** | **Consumer Staples Distribution & Retail — 2.2%** | **Consumer Staples Distribution & Retail — 2.2%** |
| Casey's General Stores, Inc. (b) | 5283 | &nbsp;&nbsp;&nbsp; 2986586 |
| Kroger Co.  | 61436 | &nbsp;&nbsp;&nbsp; 4141401 |
| Performance Food Group Co. (a) (b) | 54050 | &nbsp;&nbsp;&nbsp; 5623362 |
| U.S. Foods Holding Corp. (a) | 190653 | &nbsp;&nbsp;&nbsp; 14607833 |
| Walmart, Inc.  | 273072 | &nbsp;&nbsp;&nbsp; 28142800 |
|  |  | &nbsp;&nbsp;&nbsp; 55501982 |
| **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** |
| Packaging Corp. of America | 19809 | &nbsp;&nbsp;&nbsp; 4316975 |
| **Distributors — 0.5%** | **Distributors — 0.5%** | **Distributors — 0.5%** |
| Pool Corp.  | 39918 | &nbsp;&nbsp;&nbsp; 12377374 |

---

**BHFTI-131**

------

**Brighthouse Funds Trust I**

**Brighthouse/Wellington Large Cap Research Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Electric Utilities — 1.3%** | **Electric Utilities — 1.3%** | **Electric Utilities — 1.3%** |
| American Electric Power Co., Inc.  | 116197 | &nbsp;&nbsp;&nbsp; $13072163 |
| NextEra Energy, Inc.  | 70863 | &nbsp;&nbsp;&nbsp; 5349448 |
| PG&E Corp.  | 973316 | &nbsp;&nbsp;&nbsp; 14677605 |
|  |  | &nbsp;&nbsp;&nbsp; 33099216 |
| **Electrical Equipment — 0.3%** | **Electrical Equipment — 0.3%** | **Electrical Equipment — 0.3%** |
| Vertiv Holdings Co. - Class A | 41725 | &nbsp;&nbsp;&nbsp; 6294634 |
| **Electronic Equipment, Instruments & Components — 0.8%** | **Electronic Equipment, Instruments & Components — 0.8%** | **Electronic Equipment, Instruments & Components — 0.8%** |
| CDW Corp.  | 23721 | &nbsp;&nbsp;&nbsp; 3778281 |
| Coherent Corp. (a) (b) | 64803 | &nbsp;&nbsp;&nbsp; 6980579 |
| Flex Ltd. (a) | 161597 | &nbsp;&nbsp;&nbsp; 9367778 |
|  |  | &nbsp;&nbsp;&nbsp; 20126638 |
| **Entertainment — 1.5%** | **Entertainment — 1.5%** | **Entertainment — 1.5%** |
| Netflix, Inc. (a) | 18276 | &nbsp;&nbsp;&nbsp; 21911462 |
| Walt Disney Co.  | 140137 | &nbsp;&nbsp;&nbsp; 16045686 |
|  |  | &nbsp;&nbsp;&nbsp; 37957148 |
| **Financial Services — 4.0%** | **Financial Services — 4.0%** | **Financial Services — 4.0%** |
| Berkshire Hathaway, Inc. - Class B (a) | 91462 | &nbsp;&nbsp;&nbsp; 45981606 |
| Equitable Holdings, Inc. (b) | 202717 | &nbsp;&nbsp;&nbsp; 10293969 |
| Mastercard, Inc. - Class A | 73046 | &nbsp;&nbsp;&nbsp; 41549295 |
|  |  | &nbsp;&nbsp;&nbsp; 97824870 |
| **Food Products — 0.1%** | **Food Products — 0.1%** | **Food Products — 0.1%** |
| Freshpet, Inc. (a) (b) | 57022 | &nbsp;&nbsp;&nbsp; 3142482 |
| **Gas Utilities — 0.5%** | **Gas Utilities — 0.5%** | **Gas Utilities — 0.5%** |
| Atmos Energy Corp. (b) | 69374 | &nbsp;&nbsp;&nbsp; 11845611 |
| **Ground Transportation — 0.3%** | **Ground Transportation — 0.3%** | **Ground Transportation — 0.3%** |
| Knight-Swift Transportation Holdings, Inc.  | 181250 | &nbsp;&nbsp;&nbsp; 7161188 |
| **Health Care Equipment & Supplies — 1.7%** | **Health Care Equipment & Supplies — 1.7%** | **Health Care Equipment & Supplies — 1.7%** |
| Abbott Laboratories | 65076 | &nbsp;&nbsp;&nbsp; 8716280 |
| Align Technology, Inc. (a) | 9740 | &nbsp;&nbsp;&nbsp; 1219643 |
| Boston Scientific Corp. (a) | 55107 | &nbsp;&nbsp;&nbsp; 5380096 |
| Cooper Cos., Inc. (a) | 49249 | &nbsp;&nbsp;&nbsp; 3376511 |
| Edwards Lifesciences Corp. (a) | 88518 | &nbsp;&nbsp;&nbsp; 6884045 |
| Intuitive Surgical, Inc. (a) | 19169 | &nbsp;&nbsp;&nbsp; 8572952 |
| LivaNova PLC (a) | 20837 | &nbsp;&nbsp;&nbsp; 1091442 |
| Medtronic PLC | 58187 | &nbsp;&nbsp;&nbsp; 5541730 |
| Stryker Corp. (b) | 1679 | &nbsp;&nbsp;&nbsp; 620676 |
|  |  | &nbsp;&nbsp;&nbsp; 41403375 |
| **Health Care Providers & Services — 2.0%** | **Health Care Providers & Services — 2.0%** | **Health Care Providers & Services — 2.0%** |
| Acadia Healthcare Co., Inc. (a) | 68984 | &nbsp;&nbsp;&nbsp; 1708044 |
| Cencora, Inc. (b) | 26263 | &nbsp;&nbsp;&nbsp; 8207975 |
| CVS Health Corp.  | 71769 | &nbsp;&nbsp;&nbsp; 5410665 |
| Elevance Health, Inc.  | 11260 | &nbsp;&nbsp;&nbsp; 3638331 |
| HCA Healthcare, Inc.  | 13435 | &nbsp;&nbsp;&nbsp; 5725997 |
| Labcorp Holdings, Inc. (b) | 17496 | &nbsp;&nbsp;&nbsp; 5022402 |
| UnitedHealth Group, Inc.  | 55345 | &nbsp;&nbsp;&nbsp; 19110629 |
|  |  | &nbsp;&nbsp;&nbsp; 48824043 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care REITs — 0.9%** | **Health Care REITs — 0.9%** | **Health Care REITs — 0.9%** |
| Welltower, Inc.  | 119773 | &nbsp;&nbsp;&nbsp; $21336362 |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| HeartFlow, Inc. (a) (b) | 16900 | &nbsp;&nbsp;&nbsp; 568854 |
| **Hotels, Restaurants & Leisure — 2.4%** | **Hotels, Restaurants & Leisure — 2.4%** | **Hotels, Restaurants & Leisure — 2.4%** |
| Airbnb, Inc. - Class A (a) | 71454 | &nbsp;&nbsp;&nbsp; 8675945 |
| Flutter Entertainment PLC (a) | 29131 | &nbsp;&nbsp;&nbsp; 7399274 |
| Hyatt Hotels Corp. - Class A (b) | 117943 | &nbsp;&nbsp;&nbsp; 16739650 |
| Marriott International, Inc. - Class A (b) | 28099 | &nbsp;&nbsp;&nbsp; 7318103 |
| Royal Caribbean Cruises Ltd.  | 30126 | &nbsp;&nbsp;&nbsp; 9748171 |
| Starbucks Corp. (b) | 62136 | &nbsp;&nbsp;&nbsp; 5256706 |
| Wingstop, Inc. (b) | 17176 | &nbsp;&nbsp;&nbsp; 4322856 |
|  |  | &nbsp;&nbsp;&nbsp; 59460705 |
| **Household Durables — 0.2%** | **Household Durables — 0.2%** | **Household Durables — 0.2%** |
| Champion Homes, Inc. (a) (b) | 65645 | &nbsp;&nbsp;&nbsp; 5013309 |
| **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** |
| Church & Dwight Co., Inc. (b) | 12736 | &nbsp;&nbsp;&nbsp; 1116056 |
| **Independent Power and Renewable Electricity Producers — 0.4%** | **Independent Power and Renewable Electricity Producers — 0.4%** | **Independent Power and Renewable Electricity Producers — 0.4%** |
| Vistra Corp.  | 54333 | &nbsp;&nbsp;&nbsp; 10644921 |
| **Insurance — 1.9%** | **Insurance — 1.9%** | **Insurance — 1.9%** |
| American International Group, Inc.  | 115504 | &nbsp;&nbsp;&nbsp; 9071684 |
| Chubb Ltd.  | 41024 | &nbsp;&nbsp;&nbsp; 11579024 |
| Everest Group Ltd.  | 18565 | &nbsp;&nbsp;&nbsp; 6502020 |
| Hamilton Insurance Group Ltd. - Class B (a) | 148671 | &nbsp;&nbsp;&nbsp; 3687041 |
| Marsh & McLennan Cos., Inc.  | 85214 | &nbsp;&nbsp;&nbsp; 17173177 |
|  |  | &nbsp;&nbsp;&nbsp; 48012946 |
| **Interactive Media & Services — 6.5%** | **Interactive Media & Services — 6.5%** | **Interactive Media & Services — 6.5%** |
| Alphabet, Inc. - Class A | 523321 | &nbsp;&nbsp;&nbsp; 127219335 |
| Meta Platforms, Inc. - Class A | 44809 | &nbsp;&nbsp;&nbsp; 32906834 |
|  |  | &nbsp;&nbsp;&nbsp; 160126169 |
| **IT Services — 0.5%** | **IT Services — 0.5%** | **IT Services — 0.5%** |
| Snowflake, Inc. - Class A (a) | 50180 | &nbsp;&nbsp;&nbsp; 11318099 |
| **Life Sciences Tools & Services — 1.0%** | **Life Sciences Tools & Services — 1.0%** | **Life Sciences Tools & Services — 1.0%** |
| 10X Genomics, Inc. - Class A (a) (b) | 37026 | &nbsp;&nbsp;&nbsp; 432834 |
| Agilent Technologies, Inc.  | 42370 | &nbsp;&nbsp;&nbsp; 5438190 |
| Bio-Techne Corp. (b) | 20599 | &nbsp;&nbsp;&nbsp; 1145922 |
| Danaher Corp.  | 30313 | &nbsp;&nbsp;&nbsp; 6009855 |
| ICON PLC (a) (b) | 8727 | &nbsp;&nbsp;&nbsp; 1527225 |
| Thermo Fisher Scientific, Inc.  | 21102 | &nbsp;&nbsp;&nbsp; 10234892 |
|  |  | &nbsp;&nbsp;&nbsp; 24788918 |
| **Machinery — 0.8%** | **Machinery — 0.8%** | **Machinery — 0.8%** |
| IDEX Corp. (b) | 45285 | &nbsp;&nbsp;&nbsp; 7370587 |
| Ingersoll Rand, Inc. (b) | 39573 | &nbsp;&nbsp;&nbsp; 3269521 |
| Middleby Corp. (a) | 49571 | &nbsp;&nbsp;&nbsp; 6589473 |
| PACCAR, Inc.  | 28510 | &nbsp;&nbsp;&nbsp; 2803103 |
|  |  | &nbsp;&nbsp;&nbsp; 20032684 |

---

**BHFTI-132**

------

**Brighthouse Funds Trust I**

**Brighthouse/Wellington Large Cap Research Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| New York Times Co. - Class A | 105325 | &nbsp;&nbsp;&nbsp; $6045655 |
| **Metals & Mining — 0.3%** | **Metals & Mining — 0.3%** | **Metals & Mining — 0.3%** |
| Nucor Corp.  | 46139 | &nbsp;&nbsp;&nbsp; 6248605 |
| **Multi-Utilities — 0.7%** | **Multi-Utilities — 0.7%** | **Multi-Utilities — 0.7%** |
| Sempra | 191103 | &nbsp;&nbsp;&nbsp; 17195448 |
| **Oil, Gas & Consumable Fuels — 3.7%** | **Oil, Gas & Consumable Fuels — 3.7%** | **Oil, Gas & Consumable Fuels — 3.7%** |
| EQT Corp.  | 114318 | &nbsp;&nbsp;&nbsp; 6222329 |
| Exxon Mobil Corp.  | 352198 | &nbsp;&nbsp;&nbsp; 39710325 |
| Marathon Petroleum Corp.  | 56262 | &nbsp;&nbsp;&nbsp; 10843938 |
| Shell PLC (ADR) (b) | 304561 | &nbsp;&nbsp;&nbsp; 21785248 |
| Targa Resources Corp.  | 71015 | &nbsp;&nbsp;&nbsp; 11897853 |
|  |  | &nbsp;&nbsp;&nbsp; 90459693 |
| **Personal Care Products — 0.8%** | **Personal Care Products — 0.8%** | **Personal Care Products — 0.8%** |
| BellRing Brands, Inc. (a) (b) | 132144 | &nbsp;&nbsp;&nbsp; 4803434 |
| elf Beauty, Inc. (a) (b) | 14258 | &nbsp;&nbsp;&nbsp; 1888900 |
| Unilever PLC (ADR) | 220549 | &nbsp;&nbsp;&nbsp; 13074145 |
|  |  | &nbsp;&nbsp;&nbsp; 19766479 |
| **Pharmaceuticals — 3.8%** | **Pharmaceuticals — 3.8%** | **Pharmaceuticals — 3.8%** |
| AstraZeneca PLC (ADR) | 97928 | &nbsp;&nbsp;&nbsp; 7513036 |
| Eli Lilly & Co.  | 50444 | &nbsp;&nbsp;&nbsp; 38488772 |
| GSK PLC (ADR) (b) | 183206 | &nbsp;&nbsp;&nbsp; 7907171 |
| Haleon PLC (ADR) (b) | 1087942 | &nbsp;&nbsp;&nbsp; 9758840 |
| Johnson & Johnson | 56711 | &nbsp;&nbsp;&nbsp; 10515353 |
| Merck & Co., Inc.  | 226616 | &nbsp;&nbsp;&nbsp; 19019881 |
| Structure Therapeutics, Inc. (ADR) (a) (b) | 59416 | &nbsp;&nbsp;&nbsp; 1663648 |
|  |  | &nbsp;&nbsp;&nbsp; 94866701 |
| **Professional Services — 0.2%** | **Professional Services — 0.2%** | **Professional Services — 0.2%** |
| KBR, Inc.  | 123715 | &nbsp;&nbsp;&nbsp; 5850482 |
| **Residential REITs — 0.3%** | **Residential REITs — 0.3%** | **Residential REITs — 0.3%** |
| Camden Property Trust | 65121 | &nbsp;&nbsp;&nbsp; 6953620 |
| **Semiconductors & Semiconductor Equipment — 13.4%** | **Semiconductors & Semiconductor Equipment — 13.4%** | **Semiconductors & Semiconductor Equipment — 13.4%** |
| Advanced Micro Devices, Inc. (a) | 144343 | &nbsp;&nbsp;&nbsp; 23353254 |
| Broadcom, Inc.  | 224578 | &nbsp;&nbsp;&nbsp; 74090528 |
| First Solar, Inc. (a) | 18816 | &nbsp;&nbsp;&nbsp; 4149493 |
| MKS, Inc.  | 36477 | &nbsp;&nbsp;&nbsp; 4514758 |
| NVIDIA Corp.  | 1164022 | &nbsp;&nbsp;&nbsp; 217183225 |
| NXP Semiconductors NV | 34806 | &nbsp;&nbsp;&nbsp; 7926370 |
|  |  | &nbsp;&nbsp;&nbsp; 331217628 |
| **Software — 11.7%** | **Software — 11.7%** | **Software — 11.7%** |
| Autodesk, Inc. (a) | 57787 | &nbsp;&nbsp;&nbsp; 18357196 |
| Figma, Inc. - Class A (a) (b) | 88787 | &nbsp;&nbsp;&nbsp; 4605382 |
| Intuit, Inc.  | 21777 | &nbsp;&nbsp;&nbsp; 14871731 |
| Microsoft Corp.  | 338197 | &nbsp;&nbsp;&nbsp; 175169136 |
| Oracle Corp.  | 48963 | &nbsp;&nbsp;&nbsp; 13770354 |
| Palantir Technologies, Inc. - Class A (a) (b) | 42508 | &nbsp;&nbsp;&nbsp; 7754309 |
| SAP SE (ADR) (b) | 53739 | &nbsp;&nbsp;&nbsp; 14359598 |
| ServiceNow, Inc. (a) | 18655 | &nbsp;&nbsp;&nbsp; 17167824 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Synopsys, Inc. (a) | 44113 | &nbsp;&nbsp;&nbsp; $21764913 |
|  |  | &nbsp;&nbsp;&nbsp; 287820443 |
| **Specialty Retail — 1.6%** | **Specialty Retail — 1.6%** | **Specialty Retail — 1.6%** |
| Burlington Stores, Inc. (a) (b) | 31574 | &nbsp;&nbsp;&nbsp; 8035583 |
| Lowe's Cos., Inc.  | 80216 | &nbsp;&nbsp;&nbsp; 20159083 |
| O'Reilly Automotive, Inc. (a) | 68669 | &nbsp;&nbsp;&nbsp; 7403205 |
| Williams-Sonoma, Inc.  | 25539 | &nbsp;&nbsp;&nbsp; 4991597 |
|  |  | &nbsp;&nbsp;&nbsp; 40589468 |
| **Technology Hardware, Storage & Peripherals — 6.7%** | **Technology Hardware, Storage & Peripherals — 6.7%** | **Technology Hardware, Storage & Peripherals — 6.7%** |
| Apple, Inc.  | 620447 | &nbsp;&nbsp;&nbsp; 157984420 |
| NetApp, Inc.  | 52654 | &nbsp;&nbsp;&nbsp; 6237393 |
|  |  | &nbsp;&nbsp;&nbsp; 164221813 |
| **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
| Deckers Outdoor Corp. (a) (b) | 43385 | &nbsp;&nbsp;&nbsp; 4397938 |
| **Tobacco — 0.5%** | **Tobacco — 0.5%** | **Tobacco — 0.5%** |
| British American Tobacco PLC (ADR) | 41185 | &nbsp;&nbsp;&nbsp; 2186100 |
| Philip Morris International, Inc.  | 56128 | &nbsp;&nbsp;&nbsp; 9103961 |
|  |  | &nbsp;&nbsp;&nbsp; 11290061 |
| **Trading Companies & Distributors — 0.8%** | **Trading Companies & Distributors — 0.8%** | **Trading Companies & Distributors — 0.8%** |
| Ferguson Enterprises, Inc.  | 17101 | &nbsp;&nbsp;&nbsp; 3840542 |
| WESCO International, Inc.  | 49170 | &nbsp;&nbsp;&nbsp; 10399455 |
| WW Grainger, Inc. (b) | 4980 | &nbsp;&nbsp;&nbsp; 4745741 |
|  |  | &nbsp;&nbsp;&nbsp; 18985738 |
| **Wireless Telecommunication Services — 0.9%** | **Wireless Telecommunication Services — 0.9%** | **Wireless Telecommunication Services — 0.9%** |
| T-Mobile U.S., Inc.  | 91450 | &nbsp;&nbsp;&nbsp; 21891301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,983,054,460) <br>|  | &nbsp;&nbsp;&nbsp; 2461515833 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.5%** | **Short-Term Investments—0.5%** | **Short-Term Investments—0.5%** |
| **Repurchase Agreement—0.5%** | **Repurchase Agreement—0.5%** | **Repurchase Agreement—0.5%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $13,427,907; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $13,695,420<br>| 13426788 | &nbsp;&nbsp;&nbsp; 13426788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $13,426,788) <br>|  | &nbsp;&nbsp;&nbsp; 13426788 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—4.3%** | **Securities Lending Reinvestments (c)—4.3%** | **Securities Lending Reinvestments (c)—4.3%** |
| **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (d)<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Institutional Government Reserves Fund, <br>Institutional Class 4.040% (d)<br>| 500000 | &nbsp;&nbsp;&nbsp; 500000 |
|  |  | &nbsp;&nbsp;&nbsp; 5500000 |

---

**BHFTI-133**

------

**Brighthouse Funds Trust I**

**Brighthouse/Wellington Large Cap Research Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Certificates of Deposit—0.5%** | **Certificates of Deposit—0.5%** | **Certificates of Deposit—0.5%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 08/07/26 (e) | 2500000 | &nbsp;&nbsp;&nbsp; $2500630 |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1000967 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, SOFR + 0.240%, 12/03/25 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 1999956 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, SOFR + 0.240%, 01/13/26 (e) | 1500000 | &nbsp;&nbsp;&nbsp; 1500128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 11/13/25 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 2000266 |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1000131 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1000055 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.230%, 01/30/26 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1000101 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 03/20/26 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1000277 |
|  |  | &nbsp;&nbsp;&nbsp; 13002511 |
| **Commercial Paper—0.2%** | **Commercial Paper—0.2%** | **Commercial Paper—0.2%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2500000 | &nbsp;&nbsp;&nbsp; 2499397 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, SOFR + 0.150%, 10/06/25 (e) | 2000000 | &nbsp;&nbsp;&nbsp; 1999998 |
|  |  | &nbsp;&nbsp;&nbsp; 4499395 |
| **Repurchase Agreements—2.9%** | **Repurchase Agreements—2.9%** | **Repurchase Agreements—2.9%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $5,000,593; <br> collateralized by various Common Stock with an aggregate <br> market value of $5,561,679<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,517,312; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 07/15/26 - 10/15/28, and various Common Stock with an <br> aggregate market value of $1,671,022<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1500000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $5,000,581; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $5,100,002<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $10,239,178; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,000,003<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $500,058; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% <br> - 4.625%, maturity dates ranging from 10/28/25 - <br> 05/15/35, and an aggregate market value of $510,000<br>| 500000 | &nbsp;&nbsp;&nbsp; $500000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $10,031,062; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $10,230,492<br>| 10029894 | &nbsp;&nbsp;&nbsp; 10029894 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $500,059; collateralized <br> by various Common Stock with an aggregate market value of <br> $557,547<br>| 500000 | &nbsp;&nbsp;&nbsp; 500000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $9,201,094; <br> collateralized by various Common Stock with an aggregate <br> market value of $10,258,866<br>| 9200000 | &nbsp;&nbsp;&nbsp; 9200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $5,004,181; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $5,560,939<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| NBC Global Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.330%, due on <br> 10/07/25 with a maturity value of $15,012,629; <br> collateralized by various Common Stock with an aggregate <br> market value of $16,727,088<br>| 15000000 | &nbsp;&nbsp;&nbsp; 15000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $500,057; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% <br> - 2.375%, maturity dates ranging from 05/31/26 - <br> 07/15/30, and an aggregate market value of $510,000<br>| 500000 | &nbsp;&nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $2,629,896; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,925,260<br>| 2629585 | &nbsp;&nbsp;&nbsp; 2629585 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $4,000,466; <br> collateralized by various Common Stock with an aggregate <br> market value of $4,400,518<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
|  |  | &nbsp;&nbsp;&nbsp; 70859479 |
| **Time Deposits—0.5%** | **Time Deposits—0.5%** | **Time Deposits—0.5%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

**BHFTI-134**

------

**Brighthouse Funds Trust I**

**Brighthouse/Wellington Large Cap Research Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| First Abu Dhabi Bank USA NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; $4000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 12000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $105,859,211) <br>|  | &nbsp;&nbsp;&nbsp; 105861385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—104.5% <br>(Cost $2,102,340,459) <br>|  | &nbsp;&nbsp;&nbsp; 2580804006 |
| Other assets and liabilities (net)—(4.5)%  |  | &nbsp;&nbsp;&nbsp; (112019165)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $2468784841 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of 

---

| | |
|:---|:---|
|  | securities loaned was $163,468,977 and the collateral received consisted of cash in the amount <br> of $105,857,498 and non-cash collateral with a value of $60,539,259. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (c) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (d) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (e) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For securities <br> based on a published reference index and spread, the index and spread are indicated in the <br> description above. For certain variable rate securities, the coupon rate is determined by the <br> issuer/agent based on current market conditions. For certain asset- and mortgage-backed <br> securities, the coupon rate may fluctuate based on changes of the underlying collateral or <br> prepayments of principal. These securities do not indicate a reference index and spread in their <br> description above.<br>|

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp; $2461515833 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2461515833 |
| Total Short-Term Investments\* | &nbsp;&nbsp; — | &nbsp;&nbsp; 13426788 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13426788 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5500000 |
| &nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp; — | &nbsp;&nbsp; 13002511 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13002511 |
| &nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp; — | &nbsp;&nbsp; 4499395 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4499395 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 70859479 | &nbsp;&nbsp; — | &nbsp;&nbsp; 70859479 |
| &nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp; — | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 100361385 | &nbsp;&nbsp; — | &nbsp;&nbsp; 105861385 |
| Total Investments | &nbsp;&nbsp; $2467015833 | &nbsp;&nbsp; $113788173 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2580804006 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(105857498)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(105857498)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-135**

------

**Brighthouse Funds Trust I**

**CBRE Global Real Estate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—98.8% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Australia — 5.9%** | **Australia — 5.9%** | **Australia — 5.9%** |
| Charter Hall Group (REIT) | 613469 | &nbsp;&nbsp;&nbsp; $9264819 |
| Goodman Group (REIT) | 1086106 | &nbsp;&nbsp;&nbsp; 23647682 |
| Ingenia Communities Group (REIT) | 878152 | &nbsp;&nbsp;&nbsp; 3165137 |
| Stockland (REIT) | 3917386 | &nbsp;&nbsp;&nbsp; 15913609 |
|  |  | &nbsp;&nbsp;&nbsp; 51991247 |
| **Belgium — 0.7%** | **Belgium — 0.7%** | **Belgium — 0.7%** |
| Montea NV (REIT) | 36309 | &nbsp;&nbsp;&nbsp; 2932926 |
| Warehouses De Pauw CVA (REIT) | 118962 | &nbsp;&nbsp;&nbsp; 2986106 |
|  |  | &nbsp;&nbsp;&nbsp; 5919032 |
| **Canada — 3.1%** | **Canada — 3.1%** | **Canada — 3.1%** |
| Boardwalk Real Estate Investment Trust (REIT) (a) | 89139 | &nbsp;&nbsp;&nbsp; 4427807 |
| Canadian Apartment Properties REIT (REIT) (a) | 301539 | &nbsp;&nbsp;&nbsp; 8818450 |
| Granite Real Estate Investment Trust (REIT) | 92447 | &nbsp;&nbsp;&nbsp; 5136830 |
| H&R Real Estate Investment Trust (REIT) (a) | 521353 | &nbsp;&nbsp;&nbsp; 4214429 |
| Killam Apartment Real Estate Investment Trust (REIT) (a) | 202585 | &nbsp;&nbsp;&nbsp; 2615832 |
| Primaris Real Estate Investment Trust (REIT) (a) | 190309 | &nbsp;&nbsp;&nbsp; 2096312 |
|  |  | &nbsp;&nbsp;&nbsp; 27309660 |
| **France — 3.9%** | **France — 3.9%** | **France — 3.9%** |
| Carmila SA (REIT) (b) | 160029 | &nbsp;&nbsp;&nbsp; 3317175 |
| Klepierre SA (REIT) | 328095 | &nbsp;&nbsp;&nbsp; 12780007 |
| Mercialys SA (REIT) | 262901 | &nbsp;&nbsp;&nbsp; 3386242 |
| Unibail-Rodamco-Westfield (REIT) (b) | 137872 | &nbsp;&nbsp;&nbsp; 14539299 |
|  |  | &nbsp;&nbsp;&nbsp; 34022723 |
| **Germany — 2.2%** | **Germany — 2.2%** | **Germany — 2.2%** |
| Aroundtown SA (b) | 682728 | &nbsp;&nbsp;&nbsp; 2617800 |
| Grand City Properties SA | 205202 | &nbsp;&nbsp;&nbsp; 2709129 |
| Sirius Real Estate Ltd. (REIT) | 1279328 | &nbsp;&nbsp;&nbsp; 1684761 |
| TAG Immobilien AG | 264344 | &nbsp;&nbsp;&nbsp; 4570268 |
| Vonovia SE | 247938 | &nbsp;&nbsp;&nbsp; 7738232 |
|  |  | &nbsp;&nbsp;&nbsp; 19320190 |
| **Hong Kong — 3.5%** | **Hong Kong — 3.5%** | **Hong Kong — 3.5%** |
| Henderson Land Development Co. Ltd. (a) | 3382945 | &nbsp;&nbsp;&nbsp; 11941478 |
| Hongkong Land Holdings Ltd.  | 678500 | &nbsp;&nbsp;&nbsp; 4293547 |
| Link (REIT) | 1202788 | &nbsp;&nbsp;&nbsp; 6186859 |
| Swire Properties Ltd.  | 2774600 | &nbsp;&nbsp;&nbsp; 7893894 |
|  |  | &nbsp;&nbsp;&nbsp; 30315778 |
| **Japan — 9.1%** | **Japan — 9.1%** | **Japan — 9.1%** |
| Activia Properties, Inc. (REIT) (a) | 1925 | &nbsp;&nbsp;&nbsp; 1752973 |
| AEON REIT Investment Corp. (REIT) (a) | 2637 | &nbsp;&nbsp;&nbsp; 2311831 |
| Daiwa Office Investment Corp. (REIT) (a) | 2745 | &nbsp;&nbsp;&nbsp; 6774879 |
| Frontier Real Estate Investment Corp. (REIT) | 5000 | &nbsp;&nbsp;&nbsp; 3018960 |
| Invincible Investment Corp. (REIT) | 13271 | &nbsp;&nbsp;&nbsp; 6055582 |
| Japan Hotel REIT Investment Corp. (REIT) | 9589 | &nbsp;&nbsp;&nbsp; 5781589 |
| Japan Metropolitan Fund Invest (REIT) | 10078 | &nbsp;&nbsp;&nbsp; 7749012 |
| LaSalle Logiport REIT (REIT) | 3527 | &nbsp;&nbsp;&nbsp; 3422307 |
| Mitsui Fudosan Co. Ltd.  | 1658100 | &nbsp;&nbsp;&nbsp; 18113423 |
| Nippon Prologis REIT, Inc. (REIT) (a) | 9725 | &nbsp;&nbsp;&nbsp; 5681996 |
| Orix JREIT, Inc. (REIT) | 12912 | &nbsp;&nbsp;&nbsp; 8747976 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Japan — (Continued)** | **Japan — (Continued)** | **Japan — (Continued)** |
| Sumitomo Realty & Development Co. Ltd.  | 233400 | &nbsp;&nbsp;&nbsp; $10296842 |
|  |  | &nbsp;&nbsp;&nbsp; 79707370 |
| **Netherlands — 0.6%** | **Netherlands — 0.6%** | **Netherlands — 0.6%** |
| CTP NV | 156219 | &nbsp;&nbsp;&nbsp; 3478141 |
| Eurocommercial Properties NV (REIT) | 62318 | &nbsp;&nbsp;&nbsp; 1950430 |
|  |  | &nbsp;&nbsp;&nbsp; 5428571 |
| **Singapore — 3.5%** | **Singapore — 3.5%** | **Singapore — 3.5%** |
| CapitaLand Ascendas (REIT) | 4354890 | &nbsp;&nbsp;&nbsp; 9441504 |
| CapitaLand Integrated Commercial Trust (REIT) | 6532400 | &nbsp;&nbsp;&nbsp; 11597546 |
| Frasers Centrepoint Trust (REIT) | 1970900 | &nbsp;&nbsp;&nbsp; 3544258 |
| Keppel DC REIT (REIT) | 3409700 | &nbsp;&nbsp;&nbsp; 6325387 |
|  |  | &nbsp;&nbsp;&nbsp; 30908695 |
| **Sweden — 0.2%** | **Sweden — 0.2%** | **Sweden — 0.2%** |
| Hufvudstaden AB - A Shares | 162977 | &nbsp;&nbsp;&nbsp; 2198405 |
| **Switzerland — 0.6%** | **Switzerland — 0.6%** | **Switzerland — 0.6%** |
| PSP Swiss Property AG | 28555 | &nbsp;&nbsp;&nbsp; 4910167 |
| **United Kingdom — 4.1%** | **United Kingdom — 4.1%** | **United Kingdom — 4.1%** |
| Big Yellow Group PLC (REIT) | 341017 | &nbsp;&nbsp;&nbsp; 4458355 |
| Hammerson PLC (REIT) | 556409 | &nbsp;&nbsp;&nbsp; 2189655 |
| Land Securities Group PLC (REIT) | 1010325 | &nbsp;&nbsp;&nbsp; 7931729 |
| LondonMetric Property PLC (REIT) | 3981974 | &nbsp;&nbsp;&nbsp; 9747865 |
| Tritax Big Box REIT PLC (REIT) | 3710635 | &nbsp;&nbsp;&nbsp; 7216817 |
| UNITE Group PLC (REIT) | 463478 | &nbsp;&nbsp;&nbsp; 4485754 |
|  |  | &nbsp;&nbsp;&nbsp; 36030175 |
| **United States — 61.4%** | **United States — 61.4%** | **United States — 61.4%** |
| Alexandria Real Estate Equities, Inc. (REIT) (a) | 77227 | &nbsp;&nbsp;&nbsp; 6436098 |
| American Healthcare REIT, Inc. (REIT) (a) | 145024 | &nbsp;&nbsp;&nbsp; 6092458 |
| American Homes 4 Rent (REIT) - Class A | 388470 | &nbsp;&nbsp;&nbsp; 12916628 |
| Brixmor Property Group, Inc. (REIT) | 584732 | &nbsp;&nbsp;&nbsp; 16185382 |
| BXP, Inc. (REIT) | 107250 | &nbsp;&nbsp;&nbsp; 7972965 |
| COPT Defense Properties (REIT) | 198242 | &nbsp;&nbsp;&nbsp; 5760913 |
| Cousins Properties, Inc. (REIT) | 318197 | &nbsp;&nbsp;&nbsp; 9208621 |
| CubeSmart (REIT) | 365716 | &nbsp;&nbsp;&nbsp; 14870013 |
| Digital Realty Trust, Inc. (REIT) | 84838 | &nbsp;&nbsp;&nbsp; 14666793 |
| EastGroup Properties, Inc. (REIT) | 70978 | &nbsp;&nbsp;&nbsp; 12013736 |
| Equinix, Inc. (REIT) | 57654 | &nbsp;&nbsp;&nbsp; 45156919 |
| Essential Properties Realty Trust, Inc. (REIT) (a) | 380505 | &nbsp;&nbsp;&nbsp; 11323829 |
| Extra Space Storage, Inc. (REIT) | 170231 | &nbsp;&nbsp;&nbsp; 23992357 |
| First Industrial Realty Trust, Inc. (REIT) | 261740 | &nbsp;&nbsp;&nbsp; 13471758 |
| Getty Realty Corp. (REIT) (a) | 100912 | &nbsp;&nbsp;&nbsp; 2707469 |
| Healthpeak Properties, Inc. (REIT) | 456877 | &nbsp;&nbsp;&nbsp; 8749195 |
| Hilton Worldwide Holdings, Inc.  | 30448 | &nbsp;&nbsp;&nbsp; 7899429 |
| Host Hotels & Resorts, Inc. (REIT) (a) | 153873 | &nbsp;&nbsp;&nbsp; 2618918 |
| Independence Realty Trust, Inc. (REIT) (a) | 312456 | &nbsp;&nbsp;&nbsp; 5121154 |
| Iron Mountain, Inc. (REIT) | 231779 | &nbsp;&nbsp;&nbsp; 23627551 |
| Mid-America Apartment Communities, Inc. (REIT) | 66594 | &nbsp;&nbsp;&nbsp; 9305180 |
| Park Hotels & Resorts, Inc. (REIT) (a) | 369657 | &nbsp;&nbsp;&nbsp; 4095800 |
| Prologis, Inc. (REIT) | 167320 | &nbsp;&nbsp;&nbsp; 19161486 |
| Realty Income Corp. (REIT) (a) | 437934 | &nbsp;&nbsp;&nbsp; 26622008 |
| Regency Centers Corp. (REIT) (a) | 274285 | &nbsp;&nbsp;&nbsp; 19995376 |

---

**BHFTI-136**

------

**Brighthouse Funds Trust I**

**CBRE Global Real Estate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **United States — (Continued)** | **United States — (Continued)** | **United States — (Continued)** |
| Simon Property Group, Inc. (REIT) | 232272 | &nbsp;&nbsp;&nbsp; $43590486 |
| STAG Industrial, Inc. (REIT) (a) | 397745 | &nbsp;&nbsp;&nbsp; 14036421 |
| UDR, Inc. (REIT) (a) | 617972 | &nbsp;&nbsp;&nbsp; 23025637 |
| Ventas, Inc. (REIT) | 276641 | &nbsp;&nbsp;&nbsp; 19362104 |
| VICI Properties, Inc. (REIT) | 761250 | &nbsp;&nbsp;&nbsp; 24824362 |
| Vornado Realty Trust (REIT) (a) | 342330 | &nbsp;&nbsp;&nbsp; 13874635 |
| Welltower, Inc. (REIT) | 392088 | &nbsp;&nbsp;&nbsp; 69846556 |
|  |  | &nbsp;&nbsp;&nbsp; 538532237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $795,703,768) <br>|  | &nbsp;&nbsp;&nbsp; 866594250 |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Singapore — 0.0%** | **Singapore — 0.0%** | **Singapore — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Keppel DC REIT (REIT) (b) <br>(Cost $0)<br>| 272776 | &nbsp;&nbsp;&nbsp; 32355 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.4%** | **Short-Term Investments—0.4%** | **Short-Term Investments—0.4%** |
| **Repurchase Agreement — 0.4%** | **Repurchase Agreement — 0.4%** | **Repurchase Agreement — 0.4%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25 with a maturity value of $3,166,041; collateralized <br> by U.S. Treasury Notes with rates ranging from 3.625% - <br> 3.750%, maturity dates ranging 04/30/27 - 08/31/29, and an <br> aggregate market value of $3,229,095<br>| 3165778 | &nbsp;&nbsp;&nbsp; 3165778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $3,165,778) <br>|  | &nbsp;&nbsp;&nbsp; 3165778 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—5.4%** | **Securities Lending Reinvestments (c)—5.4%** | **Securities Lending Reinvestments (c)—5.4%** |
| **Short-Term Investment Funds — 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class, 4.070% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares, 3.990% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class, 4.050% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares, 4.050% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class, 4.090% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 12000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Time Deposits — 1.3%** | **Time Deposits — 1.3%** | **Time Deposits — 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA <br>4.090%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank <br>4.060%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; DNB Bank ASA <br>4.040%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; DZ Bank AG (NY) <br>4.080%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits — (Continued)** | **Time Deposits — (Continued)** | **Time Deposits — (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp <br>4.060%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska (NY) <br>4.060%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska (NY) <br>4.060%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 12000000 |
| **Repurchase Agreements — 2.7%** | **Repurchase Agreements — 2.7%** | **Repurchase Agreements — 2.7%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 5.000%, maturity dates ranging from 11/30/25 - 02/15/52, <br> and an aggregate market value of $1,020,000<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $3,000,350; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $2,000,234; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $1,000,119; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $2,047,836; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,200,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $1,600,184; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $1,632,000<br>| 1600000 | &nbsp;&nbsp;&nbsp; 1600000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $5,226,761; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $5,330,675<br>| 5226152 | &nbsp;&nbsp;&nbsp; 5226152 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $1,000,119; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,115,094<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $2,001,672; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $2,224,376<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $1,000,119; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,115,094<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

**BHFTI-137**

------

**Brighthouse Funds Trust I**

**CBRE Global Real Estate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $1,700,193; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $1,734,000<br>| 1700000 | &nbsp;&nbsp;&nbsp; $1700000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,200,256<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 23526152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $47,526,152) <br>|  | &nbsp;&nbsp;&nbsp; 47526152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—104.6% <br>(Cost $846,395,698) <br>|  | &nbsp;&nbsp;&nbsp; 917318535 |
| Other assets and liabilities (net)—(4.6)%  |  | &nbsp;&nbsp;&nbsp; (40458635)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $876859900 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) All or a portion of the security was held on loan. As of September 30, 2025, the market
 value of securities loaned was $87,957,736 and the collateral received consisted of cash in
 the amount of $47,526,152 and non-cash collateral with a value of $42,952,077. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities
 Lending Reinvestments. The non-cash collateral received consists of U.S. government securities
 that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot
 be sold or repledged by the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Represents investment of cash collateral received from securities on loan as of September
 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The rate shown represents the annualized seven-day yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Ten Largest Industries as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Retail REITs | 19.6 |
| Specialized REITs | 18.0 |
| Industrial REITs | 14.7 |
| Health Care REITs | 12.6 |
| Real Estate Management & Development | 9.4 |
| Residential REITs | 8.4 |
| Diversified REITs | 7.1 |
| Office REITs | 6.0 |
| Hotel & Resort REITs | 2.1 |
| Hotels, Restaurants & Leisure | 0.9 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp; $— | &nbsp;&nbsp; $51991247 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $51991247 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp; — | &nbsp;&nbsp; 5919032 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5919032 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp; 27309660 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 27309660 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp; — | &nbsp;&nbsp; 34022723 | &nbsp;&nbsp; — | &nbsp;&nbsp; 34022723 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp; — | &nbsp;&nbsp; 19320190 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19320190 |
| &nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp; — | &nbsp;&nbsp; 30315778 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30315778 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp; — | &nbsp;&nbsp; 79707370 | &nbsp;&nbsp; — | &nbsp;&nbsp; 79707370 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp; — | &nbsp;&nbsp; 5428571 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5428571 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp; — | &nbsp;&nbsp; 30908695 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30908695 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp; — | &nbsp;&nbsp; 2198405 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2198405 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp; — | &nbsp;&nbsp; 4910167 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4910167 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp; — | &nbsp;&nbsp; 36030175 | &nbsp;&nbsp; — | &nbsp;&nbsp; 36030175 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp; 538532237 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 538532237 |
| Total Common Stocks | &nbsp;&nbsp; 565841897 | &nbsp;&nbsp; 300752353 | &nbsp;&nbsp; — | &nbsp;&nbsp; 866594250 |
| Total Rights\* | &nbsp;&nbsp; — | &nbsp;&nbsp; 32355 | &nbsp;&nbsp; — | &nbsp;&nbsp; 32355 |
| Total Short-Term Investments\* | &nbsp;&nbsp; — | &nbsp;&nbsp; 3165778 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3165778 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 12000000 |
| &nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp; — | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12000000 |

---

**BHFTI-138**

------

**Brighthouse Funds Trust I**

**CBRE Global Real Estate Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $23526152 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $23526152 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp; 35526152 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47526152 |
| Total Investments | &nbsp;&nbsp;&nbsp; $577841897 | &nbsp;&nbsp;&nbsp; $339476638 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $917318535 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(47526152)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(47526152)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-139**

------

**Brighthouse Funds Trust I**

**Harris Oakmark International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—94.9% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Australia — 2.6%** | **Australia — 2.6%** | **Australia — 2.6%** |
| Glencore PLC (a) | 11736165 | &nbsp;&nbsp;&nbsp; $54235746 |
| **China — 3.8%** | **China — 3.8%** | **China — 3.8%** |
| Alibaba Group Holding Ltd.  | 1987900 | &nbsp;&nbsp;&nbsp; 44560323 |
| Prosus NV | 475933 | &nbsp;&nbsp;&nbsp; 33752577 |
|  |  | &nbsp;&nbsp;&nbsp; 78312900 |
| **Denmark — 2.2%** | **Denmark — 2.2%** | **Denmark — 2.2%** |
| DSV AS | 225400 | &nbsp;&nbsp;&nbsp; 44999096 |
| **France — 21.9%** | **France — 21.9%** | **France — 21.9%** |
| Accor SA | 789683 | &nbsp;&nbsp;&nbsp; 37411189 |
| Airbus SE | 189900 | &nbsp;&nbsp;&nbsp; 44392034 |
| BNP Paribas SA | 669875 | &nbsp;&nbsp;&nbsp; 61064608 |
| Capgemini SE | 292830 | &nbsp;&nbsp;&nbsp; 42611777 |
| Danone SA | 361200 | &nbsp;&nbsp;&nbsp; 31469321 |
| Dassault Systemes SE | 1219000 | &nbsp;&nbsp;&nbsp; 41005952 |
| Edenred SE | 1278940 | &nbsp;&nbsp;&nbsp; 30474368 |
| Kering SA | 149300 | &nbsp;&nbsp;&nbsp; 49753678 |
| LVMH Moet Hennessy Louis Vuitton SE | 60700 | &nbsp;&nbsp;&nbsp; 37141366 |
| Pernod Ricard SA | 477067 | &nbsp;&nbsp;&nbsp; 46907753 |
| Publicis Groupe SA | 337398 | &nbsp;&nbsp;&nbsp; 32385816 |
| Worldline SA (a) (b) | 775076 | &nbsp;&nbsp;&nbsp; 2505035 |
|  |  | &nbsp;&nbsp;&nbsp; 457122897 |
| **Germany — 21.0%** | **Germany — 21.0%** | **Germany — 21.0%** |
| adidas AG | 275407 | &nbsp;&nbsp;&nbsp; 58089246 |
| Allianz SE | 59400 | &nbsp;&nbsp;&nbsp; 24968346 |
| Aumovio SE (a) | 256128 | &nbsp;&nbsp;&nbsp; 10560818 |
| Bayer AG | 1433483 | &nbsp;&nbsp;&nbsp; 47529147 |
| Bayerische Motoren Werke AG | 454507 | &nbsp;&nbsp;&nbsp; 45606955 |
| Brenntag SE | 753014 | &nbsp;&nbsp;&nbsp; 45126216 |
| Continental AG | 512255 | &nbsp;&nbsp;&nbsp; 33772478 |
| Daimler Truck Holding AG | 870013 | &nbsp;&nbsp;&nbsp; 35848750 |
| Fresenius Medical Care AG | 597914 | &nbsp;&nbsp;&nbsp; 31373560 |
| Fresenius SE & Co. KGaA | 680323 | &nbsp;&nbsp;&nbsp; 37887841 |
| Mercedes-Benz Group AG (b) | 331093 | &nbsp;&nbsp;&nbsp; 20803500 |
| Siemens Healthineers AG | 349000 | &nbsp;&nbsp;&nbsp; 18880710 |
| thyssenkrupp AG | 1932251 | &nbsp;&nbsp;&nbsp; 26500276 |
|  |  | &nbsp;&nbsp;&nbsp; 436947843 |
| **Hong Kong — 1.6%** | **Hong Kong — 1.6%** | **Hong Kong — 1.6%** |
| Prudential PLC | 2387362 | &nbsp;&nbsp;&nbsp; 33605789 |
| **Indonesia — 1.6%** | **Indonesia — 1.6%** | **Indonesia — 1.6%** |
| Bank Mandiri Persero Tbk. PT | 130003000 | &nbsp;&nbsp;&nbsp; 34430286 |
| **Italy — 1.6%** | **Italy — 1.6%** | **Italy — 1.6%** |
| Intesa Sanpaolo SpA | 3276700 | &nbsp;&nbsp;&nbsp; 21669190 |
| Ryanair Holdings PLC (ADR) | 181625 | &nbsp;&nbsp;&nbsp; 10937458 |
|  |  | &nbsp;&nbsp;&nbsp; 32606648 |
| **Japan — 6.5%** | **Japan — 6.5%** | **Japan — 6.5%** |
| Asahi Group Holdings Ltd.  | 2412100 | &nbsp;&nbsp;&nbsp; 28941077 |
| Fujitsu Ltd.  | 1064500 | &nbsp;&nbsp;&nbsp; 25028887 |
| Komatsu Ltd. (b) | 739300 | &nbsp;&nbsp;&nbsp; 25724984 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Japan — (Continued)** | **Japan — (Continued)** | **Japan — (Continued)** |
| Mitsubishi Estate Co. Ltd.  | 903600 | &nbsp;&nbsp;&nbsp; $20808654 |
| SMC Corp.  | 116500 | &nbsp;&nbsp;&nbsp; 35650013 |
|  |  | &nbsp;&nbsp;&nbsp; 136153615 |
| **Luxembourg — 1.4%** | **Luxembourg — 1.4%** | **Luxembourg — 1.4%** |
| Eurofins Scientific SE (b) | 405804 | &nbsp;&nbsp;&nbsp; 29543115 |
| **Mexico — 1.4%** | **Mexico — 1.4%** | **Mexico — 1.4%** |
| Fomento Economico Mexicano SAB de CV (ADR) | 302400 | &nbsp;&nbsp;&nbsp; 29825712 |
| **Netherlands — 6.2%** | **Netherlands — 6.2%** | **Netherlands — 6.2%** |
| Akzo Nobel NV | 569130 | &nbsp;&nbsp;&nbsp; 40539616 |
| ASML Holding NV (NY Registry Shares) | 35800 | &nbsp;&nbsp;&nbsp; 34657622 |
| ASR Nederland NV | 458800 | &nbsp;&nbsp;&nbsp; 31224044 |
| EXOR NV | 16779 | &nbsp;&nbsp;&nbsp; 1647444 |
| Koninklijke Ahold Delhaize NV | 521800 | &nbsp;&nbsp;&nbsp; 21110002 |
|  |  | &nbsp;&nbsp;&nbsp; 129178728 |
| **South Korea — 2.1%** | **South Korea — 2.1%** | **South Korea — 2.1%** |
| KB Financial Group, Inc.  | 537343 | &nbsp;&nbsp;&nbsp; 44377882 |
| **Sweden — 4.0%** | **Sweden — 4.0%** | **Sweden — 4.0%** |
| Hexagon AB - B Shares | 2704400 | &nbsp;&nbsp;&nbsp; 32440677 |
| Sandvik AB | 862300 | &nbsp;&nbsp;&nbsp; 24147884 |
| SKF AB - B Shares | 204690 | &nbsp;&nbsp;&nbsp; 5107756 |
| Volvo AB - B Shares | 750473 | &nbsp;&nbsp;&nbsp; 21642609 |
|  |  | &nbsp;&nbsp;&nbsp; 83338926 |
| **Switzerland — 1.7%** | **Switzerland — 1.7%** | **Switzerland — 1.7%** |
| Cie Financiere Richemont SA - Class A | 188013 | &nbsp;&nbsp;&nbsp; 36075725 |
| **United Kingdom — 10.1%** | **United Kingdom — 10.1%** | **United Kingdom — 10.1%** |
| Ashtead Group PLC | 812268 | &nbsp;&nbsp;&nbsp; 54584689 |
| Bunzl PLC | 544200 | &nbsp;&nbsp;&nbsp; 17180096 |
| Diageo PLC | 1047900 | &nbsp;&nbsp;&nbsp; 24946110 |
| Flutter Entertainment PLC (a) | 71702 | &nbsp;&nbsp;&nbsp; 18212308 |
| Intertek Group PLC | 115700 | &nbsp;&nbsp;&nbsp; 7396171 |
| Reckitt Benckiser Group PLC | 673513 | &nbsp;&nbsp;&nbsp; 52015893 |
| Rentokil Initial PLC | 4244002 | &nbsp;&nbsp;&nbsp; 21445946 |
| Schroders PLC | 2730235 | &nbsp;&nbsp;&nbsp; 13830374 |
|  |  | &nbsp;&nbsp;&nbsp; 209611587 |
| **United States — 5.2%** | **United States — 5.2%** | **United States — 5.2%** |
| CNH Industrial NV | 4905529 | &nbsp;&nbsp;&nbsp; 53224990 |
| Novartis AG | 184700 | &nbsp;&nbsp;&nbsp; 23750670 |
| Roche Holding AG | 94700 | &nbsp;&nbsp;&nbsp; 31168729 |
|  |  | &nbsp;&nbsp;&nbsp; 108144389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,675,799,739) <br>|  | &nbsp;&nbsp;&nbsp; 1978510884 |

---

**BHFTI-140**

------

**Brighthouse Funds Trust I**

**Harris Oakmark International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Preferred Stocks—2.0%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **South Korea — 2.0%** | **South Korea — 2.0%** | **South Korea — 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. <br>(Cost $38,825,811)<br>| 856700 | &nbsp;&nbsp;&nbsp; $40728609 |
| **Equity Linked Security—0.3%** |  |  |
| **Italy — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryanair Holdings PLC (HSBC Bank PLC) 12/12/25 (c) <br>(Cost $5,009,216)<br>| 250000 | &nbsp;&nbsp;&nbsp; 7249763 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—2.5%** | **Short-Term Investments—2.5%** | **Short-Term Investments—2.5%** |
| **Repurchase Agreement — 2.5%** | **Repurchase Agreement — 2.5%** | **Repurchase Agreement — 2.5%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25 with a maturity value of $51,078,720; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $52,096,075<br>| 51074464 | &nbsp;&nbsp;&nbsp; 51074464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $51,074,464) <br>|  | &nbsp;&nbsp;&nbsp; 51074464 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (d)—1.2%** | **Securities Lending Reinvestments (d)—1.2%** | **Securities Lending Reinvestments (d)—1.2%** |
| **Short-Term Investment Funds — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class, 4.070% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares, 4.020% (e)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class , 4.040% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares, 3.990% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class, 4.050% (e)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares, 4.050% (e)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
|  |  | &nbsp;&nbsp;&nbsp; 13000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Time Deposits — 0.2%** | **Time Deposits — 0.2%** | **Time Deposits — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA <br>4.090%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank <br>4.060%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; DZ Bank AG (NY) <br>4.080%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp <br>4.060%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska (NY) <br>4.060%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 5000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements — 0.4%** | **Repurchase Agreements — 0.4%** | **Repurchase Agreements — 0.4%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 5.000%, maturity dates ranging from <br> 11/30/25 - 02/15/52, and an aggregate market value of <br> $1,020,000<br>| 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $300,035; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% <br> - 4.625%, maturity dates ranging from 10/28/25 - <br> 05/15/35, and an aggregate market value of $306,000<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $3,206,246; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $3,269,990<br>| 3205873 | &nbsp;&nbsp;&nbsp; 3205873 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $1,000,836; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $1,112,188<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $1,000,117; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 6.750%, maturity dates ranging from <br> 10/31/25 - 05/15/55, and an aggregate market value of <br> $1,020,119<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $300,034; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% <br> - 2.375%, maturity dates ranging from 05/31/26 - <br> 07/15/30, and an aggregate market value of $306,000<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,100,128<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 7805873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $25,805,873) <br>|  | &nbsp;&nbsp;&nbsp; 25805873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.9% <br>(Cost $1,796,515,103) <br>|  | &nbsp;&nbsp;&nbsp; 2103369593 |
| Other assets and liabilities (net)—(0.9)%  |  | &nbsp;&nbsp;&nbsp; (19040802)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $2084328791 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $25,073,152 and the collateral received consisted of cash in the amount of $25,805,873 and non-cash collateral with a value of $489,827. The cash collateral investments 

**BHFTI-141**

------

**Brighthouse Funds Trust I**

**Harris Oakmark International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (c) <br>| Security whose performance, including redemption at maturity, is linked to the price of the <br> underlying equity security. The investment is subject to credit risk of the issuing financial <br> institution (HSBC Bank PLC) in addition to the market risk of the underlying security.<br>|
| (d) <br>| Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (e) <br>| The rate shown represents the annualized seven-day yield as of September 30, 2025. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Ten Largest Industries as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Machinery | 9.7 |
| Textiles, Apparel & Luxury Goods | 8.7 |
| Banks | 7.7 |
| Beverages | 6.3 |
| Trading Companies & Distributors | 5.6 |
| Pharmaceuticals | 4.9 |
| Insurance | 4.3 |
| Metals & Mining | 3.9 |
| Broadline Retail | 3.8 |
| Health Care Providers & Services | 3.3 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $54235746 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $54235746 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 78312900 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 78312900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44999096 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44999096 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 457122897 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 457122897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp; 10560818 | &nbsp;&nbsp;&nbsp; 426387025 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 436947843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33605789 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33605789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34430286 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34430286 |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp; 10937458 | &nbsp;&nbsp;&nbsp; 21669190 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 32606648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 136153615 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 136153615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29543115 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29543115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp; 29825712 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29825712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp; 34657622 | &nbsp;&nbsp;&nbsp; 94521106 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 129178728 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44377882 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44377882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 83338926 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 83338926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36075725 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36075725 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp; 18212308 | &nbsp;&nbsp;&nbsp; 191399279 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 209611587 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; 53224990 | &nbsp;&nbsp;&nbsp; 54919399 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 108144389 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 157418908 | &nbsp;&nbsp;&nbsp; 1821091976 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1978510884 |
| Total Preferred Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40728609 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40728609 |
| Total Equity Linked Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7249763 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7249763 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 51074464 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 51074464 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 13000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5000000 |

---

**BHFTI-142**

------

**Brighthouse Funds Trust I**

**Harris Oakmark International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $7805873 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $7805873 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 13000000 | &nbsp;&nbsp;&nbsp; 12805873 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25805873 |
| Total Investments | &nbsp;&nbsp;&nbsp; $170418908 | &nbsp;&nbsp;&nbsp; $1932950685 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2103369593 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(25805873)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(25805873)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-143**

------

**Brighthouse Funds Trust I**

**Invesco Balanced-Risk Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**U.S. Treasury & Government Agencies—7.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **U.S. Treasury — 7.0%** | **U.S. Treasury — 7.0%** | **U.S. Treasury — 7.0%** |
| U.S. Treasury Floating Rate Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.049%, 3M USTBMM + 0.150%, 04/30/26 (a) | 17600000 | &nbsp;&nbsp;&nbsp; $17596561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.081%, 3M USTBMM + 0.182%, 07/31/26 (a) | 32400000 | &nbsp;&nbsp;&nbsp; 32399426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $50,000,000) <br>|  | &nbsp;&nbsp;&nbsp; 49995987 |
| **Municipals—2.8%** | **Municipals—2.8%** | **Municipals—2.8%** |
| Board of Regents of the University of Texas System |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.110%, 08/01/45 (a) <br>(Cost $20,000,000)<br>| 20000000 | &nbsp;&nbsp;&nbsp; 20000000 |
| **Corporate Bonds & Notes—2.5%** | **Corporate Bonds & Notes—2.5%** | **Corporate Bonds & Notes—2.5%** |
| **Commercial Services — 2.5%** | **Commercial Services — 2.5%** | **Commercial Services — 2.5%** |
| Altoona-Blair County Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.160%, 09/01/38 (144A) (a) <br>(Cost $17,850,000)<br>| 17850000 | &nbsp;&nbsp;&nbsp; 17850000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—83.2%** | **Short-Term Investments—83.2%** | **Short-Term Investments—83.2%** |
| **Certificates of Deposit—5.2%** | **Certificates of Deposit—5.2%** | **Certificates of Deposit—5.2%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, SOFR + 0.300%, 03/19/26 (a) | 5000000 | &nbsp;&nbsp;&nbsp; 5002115 |
| Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.490%, SOFR + 0.360%, 11/17/25 (a) | 9000000 | &nbsp;&nbsp;&nbsp; 9003426 |
| Swedbank AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, SOFR + 0.300%, 10/14/25 (a) | 15000000 | &nbsp;&nbsp;&nbsp; 14999974 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 07/10/26 (a) | 8000000 | &nbsp;&nbsp;&nbsp; 8006156 |
|  |  | &nbsp;&nbsp;&nbsp; 37011671 |
| **Commercial Paper—53.6%** | **Commercial Paper—53.6%** | **Commercial Paper—53.6%** |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.705%, 10/07/25 (b) | 20000000 | &nbsp;&nbsp;&nbsp; 19984056 |
| Aquitaine Funding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.323%, 12/02/25 (144A) (b) | 20000000 | &nbsp;&nbsp;&nbsp; 19854576 |
| Banque et Caisse d'Epargne de l'Etat |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.211%, 10/02/25 (b) | 2800000 | &nbsp;&nbsp;&nbsp; 2799366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.043%, 02/09/26 (b) | 10000000 | &nbsp;&nbsp;&nbsp; 9854360 |
| Britannia Funding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.362%, 11/04/25 (144A) (b) | 12500000 | &nbsp;&nbsp;&nbsp; 12449263 |
| Caisse des Depots et Consignations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.934%, 10/03/25 (b) | 11500000 | &nbsp;&nbsp;&nbsp; 11496088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.078%, 01/06/26 (144A) (b) | 8500000 | &nbsp;&nbsp;&nbsp; 8407398 |
| CDP Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.064%, 10/27/25 (b) | 10000000 | &nbsp;&nbsp;&nbsp; 9968800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.363%, 12/02/25 (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11913794 |
| Dexia SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.142%, 10/15/25 (144A) (b) | 8000000 | &nbsp;&nbsp;&nbsp; 7986266 |
| Emory University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, 10/23/25 | 15000000 | &nbsp;&nbsp;&nbsp; 15002454 |
| Falcon Asset Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, SOFR + 0.270%, 03/11/26 (144A) (a) | 10000000 | &nbsp;&nbsp;&nbsp; 10000880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Commercial Paper—(Continued)** | **Commercial Paper—(Continued)** | **Commercial Paper—(Continued)** |
| Federation des Caisses Desjardins du Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.843%, 10/09/25 (144A) (b) | 15500000 | &nbsp;&nbsp;&nbsp; $15483928 |
| Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.458%, 10/06/25 (b) | 9800000 | &nbsp;&nbsp;&nbsp; 9793324 |
| Lloyds Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.109%, 03/10/26 (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11787194 |
| Natixis SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.214%, 03/03/26 (b) | 15500000 | &nbsp;&nbsp;&nbsp; 15235719 |
| Nederlandse Waterschapsbank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.033%, 10/24/25 (b) | 5000000 | &nbsp;&nbsp;&nbsp; 4986200 |
| Nestle Finance International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.110%, 11/12/25 (b) | 5000000 | &nbsp;&nbsp;&nbsp; 4975462 |
| New York Life Short Term Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.117%, 11/19/25 (144A) (b) | 10000000 | &nbsp;&nbsp;&nbsp; 9943102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.240%, 10/22/25 (144A) (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11969786 |
| Novartis Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.551%, 10/06/25 (b) | 8000000 | &nbsp;&nbsp;&nbsp; 7994564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.937%, 10/14/25 (144A) (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11980850 |
| PACCAR Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/01/25 (b) | 10400000 | &nbsp;&nbsp;&nbsp; 10398806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.818%, 10/10/25 (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11986121 |
| Pacific Life Short Term Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.149%, 10/17/25 (b) | 8500000 | &nbsp;&nbsp;&nbsp; 8483451 |
| Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.111%, 11/21/25 (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11929685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.209%, 10/24/25 (b) | 9575000 | &nbsp;&nbsp;&nbsp; 9548871 |
| Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.134%, 12/12/25 (144A) (b) | 3245000 | &nbsp;&nbsp;&nbsp; 3218888 |
| PSP Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.955%, 10/10/25 (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11986321 |
| Schlumberger Investment SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.137%, 11/19/25 (144A) (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11931944 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.181%, 01/06/26 (b) | 9000000 | &nbsp;&nbsp;&nbsp; 8901093 |
| Thunder Bay Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.042%, 04/17/26 (b) | 12000000 | &nbsp;&nbsp;&nbsp; 11739487 |
| TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.920%, 10/17/25 (144A) (b) | 11000000 | &nbsp;&nbsp;&nbsp; 10978477 |
| Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.678%, 10/06/25 (b) | 6000000 | &nbsp;&nbsp;&nbsp; 5995913 |
| Unilever Finance Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.038%, 11/05/25 (b) | 13000000 | &nbsp;&nbsp;&nbsp; 12946674 |
| Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.948%, 10/20/25 (144A) (b) | 10200000 | &nbsp;&nbsp;&nbsp; 10176827 |
|  |  | &nbsp;&nbsp;&nbsp; 384089988 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investment Funds—24.4%** |  |  |
| Invesco U.S. Dollar Liquidity Portfolio, Agency Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.313% (c) (d) | 127162566 | &nbsp;&nbsp;&nbsp; 127162566 |
| &nbsp;&nbsp;&nbsp;&nbsp; STIT-Government & Agency Portfolio, <br>Institutional Class<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050% (c) (d) | 29285631 | &nbsp;&nbsp;&nbsp; 29285631 |

---

**BHFTI-144**

------

**Brighthouse Funds Trust I**

**Invesco Balanced-Risk Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Short-Term Investments—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Short-Term Investment Funds —(Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; STIT-Treasury Portfolio, <br>Institutional Class<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.990% (c) (d) | 18753946 | &nbsp;&nbsp;&nbsp; $18753946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investment Funds <br>(Cost $175,202,143) <br>|  | &nbsp;&nbsp;&nbsp; 175202143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $596,295,562) <br>|  | &nbsp;&nbsp;&nbsp; 596303802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—95.5% <br>(Cost $684,145,562) <br>|  | &nbsp;&nbsp;&nbsp; 684149789 |
| Other assets and liabilities (net)—4.5%  |  | &nbsp;&nbsp;&nbsp; 32001014 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $716150803 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. 

---

| | |
|:---|:---|
|  | Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (b) | The rate shown represents current yield to maturity. |
| (c) | Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated <br> issuers.)<br>|
| (d) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $162,232,185, which is 22.7% of net assets.<br>|

---

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| Invesco U.S. Dollar Liquidity Portfolio, Agency Class | &nbsp;&nbsp; $133391798 | &nbsp;&nbsp; $89911256 | &nbsp;&nbsp; $(96140488)<br>| &nbsp;&nbsp; $127162566 |
| STIT-Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp; 20171879 | &nbsp;&nbsp; 145036449 | &nbsp;&nbsp; (135922697)<br>| &nbsp;&nbsp; 29285631 |
| STIT-Treasury Portfolio, Institutional Class | &nbsp;&nbsp; 12678111 | &nbsp;&nbsp; 96690966 | &nbsp;&nbsp; (90615131)<br>| &nbsp;&nbsp; 18753946 |
|  | &nbsp;&nbsp; $166241788 | &nbsp;&nbsp; $331638671 | &nbsp;&nbsp; $(322678316)<br>| &nbsp;&nbsp; $175202143 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| Invesco U.S. Dollar Liquidity Portfolio, Agency Class | &nbsp;&nbsp; $4210770 | &nbsp;&nbsp; 127162566 |
| STIT-Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp; 827066 | &nbsp;&nbsp; 29285631 |
| STIT-Treasury Portfolio, Institutional Class | &nbsp;&nbsp; 528339 | &nbsp;&nbsp; 18753946 |
|  | &nbsp;&nbsp; $5566175 |  |

---

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Australian 10 Year Treasury Bond Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 1018 | AUD | 115391980 | &nbsp;&nbsp; $(88768)<br>|
| Brent Crude Oil Futures | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 205 | USD | 13452100 | &nbsp;&nbsp; (368620)<br>|
| Canada Government Bond 10 Year Futures | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; 841 | CAD | 102988860 | &nbsp;&nbsp; 1490630 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 753 | EUR | 41723730 | &nbsp;&nbsp; 1061850 |
| Euro-Bund Futures | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 411 | EUR | 52842270 | &nbsp;&nbsp; 101343 |
| FTSE 100 Index Futures | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 395 | GBP | 37159625 | &nbsp;&nbsp; 408327 |
| Japanese Government 10 Year Bond Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 57 | JPY | 7740030000 | &nbsp;&nbsp; (520421)<br>|
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 747 | USD | 50784795 | &nbsp;&nbsp; 884022 |

---

**BHFTI-145**

------

**Brighthouse Funds Trust I**

**Invesco Balanced-Risk Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Futures Contracts — (Continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration**<br> **Date**<br>| **Number of**<br> **Contracts**<br>| **Notional**<br> **Value** | **Notional**<br> **Value** | **Value/**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| New York Harbor ULSD Futures | &nbsp;&nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp;&nbsp; 152 | USD | 14126515 | &nbsp;&nbsp;&nbsp; $(159889)<br>|
| RBOB Gasoline Futures | &nbsp;&nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp;&nbsp; 157 | USD | 12675646 | &nbsp;&nbsp;&nbsp; (56305)<br>|
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 332 | USD | 40761300 | &nbsp;&nbsp;&nbsp; 612139 |
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 80 | USD | 26955000 | &nbsp;&nbsp;&nbsp; 361200 |
| Silver Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 74 | USD | 17256800 | &nbsp;&nbsp;&nbsp; 2992455 |
| TOPIX Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; 290 | JPY | 9108900000 | &nbsp;&nbsp;&nbsp; 78282 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 579 | GBP | 52596360 | &nbsp;&nbsp;&nbsp; 253280 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 416 | USD | 48503000 | &nbsp;&nbsp;&nbsp; 1075873 |
| WTI Crude Oil Futures | &nbsp;&nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp;&nbsp; 116 | USD | 7187360 | &nbsp;&nbsp;&nbsp; (215312)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $7910086 |

---

**OTC Total Return Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Fixed Rate** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Underlying Reference** <br>**Instrument** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premium** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 0.190% | Monthly | 12/04/25 | BBP | Barclays Soybean Oil Seasonal Index | USD | 4918234 | $(260689)<br>| $— | $(260689)<br>|
| Pay | 0.170% | Monthly | 04/07/26 | BBP | Barclays Copper Excess Return Index | USD | 9083926 | 22128 |  | 22128 |
| Pay | 0.190% | Monthly | 02/12/26 | BBP | Barclays Soybeans Seasonal Excess Return Index | USD | 4915592 | (193277)<br>|  | (193277)<br>|
| Pay | 0.190% | Monthly | 08/04/26 | BBP | Barclays Soymeal Excess Return Index | USD | 335602 | (14566)<br>|  | (14566)<br>|
| Pay | 0.170% | Monthly | 05/05/26 | BBP | Barclays Wheat Chicago Seasonal Index | USD | 3029619 | (98097)<br>|  | (98097)<br>|
| Pay | 0.270% | Monthly | 01/27/26 | CIBC | CIBC Dynamic Roll LME Copper Excess Return Index 2 | USD | 14273772 | 194179 |  | 194179 |
| Pay | 0.200% | Monthly | 04/01/26 | CIBC | CIBC Lean Hogs Seasonal Index | USD | 4672586 | (27489)<br>|  | (27489)<br>|
| Pay | 0.150% | Monthly | 12/10/25 | CIBC | CIBC Live Cattle Seasonal Index | USD | 3088443 | 8575 |  | 8575 |
| Pay | 0.280% | Monthly | 02/05/26 | CIBC | CIBC Seasonal Cotton Index | USD | 4080274 | (58097)<br>|  | (58097)<br>|
| Pay | 0.260% | Monthly | 02/10/26 | CIBC | CIBC Soybean Oil Seasonal Index | USD | 2255969 | (92250)<br>|  | (92250)<br>|
| Pay | 0.140% | Monthly | 02/18/26 | CIBC | CIBC Soymeal Front Month Excess Return Index | USD | 5770375 | (288820)<br>|  | (288820)<br>|
| Pay | 0.210% | Monthly | 12/11/25 | CIBC | CIBC Sugar Excess Return Index | USD | 7797964 | 47261 |  | 47261 |
| Pay | 0.200% | Monthly | 07/02/26 | GSI | Goldman Sachs Wheat Chicago Seasonal Index | USD | 2108653 | (63411)<br>|  | (63411)<br>|
| Pay | 0.180% | Monthly | 05/05/26 | GSI | GSCI Corn Seasonal Return Index | USD | 2633033 | (39020)<br>|  | (39020)<br>|
| Pay | 0.250% | Monthly | 01/27/26 | JPMC | JPMorgan Contag Gas Oil Excess Return Index | USD | 14316551 | 226729 |  | 226729 |
| Pay | 0.300% | Monthly | 02/05/26 | MBL | Macquarie Dynamic Roll Aluminum Excess Return Index | USD | 10089254 | 83205 |  | 83205 |
| Pay | 0.170% | Monthly | 05/05/26 | MBL | Macquarie Soymeal Front Month Excess Return Index | USD | 5469670 | 2004 |  | 2004 |
| Pay | 0.280% | Monthly | 07/02/26 | MLI | Merrill Lynch Aluminum Excess Return Index | USD | 6382406 | 155193 | (1400)<br>| 156593 |
| Pay | 0.120% | Monthly | 05/05/26 | MLI | Merrill Lynch Corn Seasonal Index | USD | 3250800 | (43696)<br>|  | (43696)<br>|
| Pay | 0.180% | Monthly | 10/09/25 | MLI | Merrill Lynch Cotton Seasonal Index | USD | 4086801 | (51948)<br>|  | (51948)<br>|
| Pay | 0.090% | Monthly | 11/25/25 | MLI | Merrill Lynch Gold Excess Return Index | USD | 12414811 | 1260878 |  | 1260878 |
| Pay | 0.250% | Monthly | 12/01/25 | MLI | Merrill Lynch Natural Gas Seasonal Index | USD | 3967277 | (34460)<br>|  | (34460)<br>|
| Pay | 0.160% | Monthly | 11/25/25 | RBC | RBC Coffee Front Month Excess Return Index | USD | 7791003 | (227023)<br>|  | (227023)<br>|
| Pay | 0.060% | Monthly | 02/18/26 | RBC | RBC Gold Excess Return Index | USD | 11362049 | 1153945 | 44265 | 1109680 |
| Pay | 0.280% | Monthly | 07/02/26 | RBC | RBC Seasonal Cotton Index | USD | 1072348 | (13632)<br>| (806)<br>| (12826)<br>|
| Pay | 0.180% | Monthly | 02/12/26 | RBC | RBC Soybean Seasonal Excess Return Index | USD | 4975748 | (222982)<br>|  | (222982)<br>|
| Pay | 0.180% | Monthly | 11/25/25 | RBC | RBC Sugar Excess Return Index | USD | 2575372 | (69316)<br>|  | (69316)<br>|
| Pay | 0.300% | Monthly | 04/27/26 | MSCS | S&P GSCI Aluminum Dynamic Roll Index | USD | 10334954 | (141422)<br>|  | (141422)<br>|
| Pay | 0.090% | Monthly | 10/21/25 | JPMC | S&P GSCI Gold Excess Return Index | USD | 10677531 | 277473 |  | 277473 |
| Pay | 0.250% | Monthly | 02/10/26 | GSI | S&P GSCI Soybean Oil Seasonal Index | USD | 4833957 | (185949)<br>|  | (185949)<br>|
| Pay | 0.140% | Monthly | 07/02/26 | GSI | S&P GSCI Soybeans Seasonal Excess Return Index | USD | 1587683 | (49014)<br>|  | (49014)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $1256412 | $42059 | $1214353 |

---

Cash in the amount of $2,350,000 has been received at the custodian bank and held in a segregated account as collateral for OTC swap contracts.

**BHFTI-146**

------

**Brighthouse Funds Trust I**

**Invesco Balanced-Risk Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $49995987 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $49995987 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20000000 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17850000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17850000 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37011671 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37011671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 384089988 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 384089988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 175202143 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 175202143 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp; 175202143 | &nbsp;&nbsp;&nbsp; 421101659 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 596303802 |
| Total Investments | &nbsp;&nbsp;&nbsp; $175202143 | &nbsp;&nbsp;&nbsp; $508947646 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $684149789 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $9319401 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $9319401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (1409315)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1409315)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $7910086 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $7910086 |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Assets) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3431570 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3431570 |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Liabilities) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2175158)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2175158)<br>|
| Total OTC Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1256412 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1256412 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Consolidated Schedule of Investments for additional detailed categorizations.

**BHFTI-147**

------

**Brighthouse Funds Trust I**

**Invesco Comstock Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—96.8% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** |
| Textron, Inc.  | 301823 | &nbsp;&nbsp;&nbsp; $25501025 |
| **Air Freight & Logistics — 1.7%** | **Air Freight & Logistics — 1.7%** | **Air Freight & Logistics — 1.7%** |
| FedEx Corp.  | 139132 | &nbsp;&nbsp;&nbsp; 32808717 |
| **Banks — 14.7%** | **Banks — 14.7%** | **Banks — 14.7%** |
| Bank of America Corp.  | 1344534 | &nbsp;&nbsp;&nbsp; 69364509 |
| Citigroup, Inc.  | 363645 | &nbsp;&nbsp;&nbsp; 36909967 |
| Citizens Financial Group, Inc.  | 639122 | &nbsp;&nbsp;&nbsp; 33975726 |
| Fifth Third Bancorp (a) | 622865 | &nbsp;&nbsp;&nbsp; 27748636 |
| Huntington Bancshares, Inc.  | 1929544 | &nbsp;&nbsp;&nbsp; 33323225 |
| M&T Bank Corp.  | 119475 | &nbsp;&nbsp;&nbsp; 23610649 |
| Wells Fargo & Co.  | 649441 | &nbsp;&nbsp;&nbsp; 54436145 |
|  |  | &nbsp;&nbsp;&nbsp; 279368857 |
| **Beverages — 1.6%** | **Beverages — 1.6%** | **Beverages — 1.6%** |
| Anheuser-Busch InBev SA | 286515 | &nbsp;&nbsp;&nbsp; 17132384 |
| Coca-Cola Co.  | 205028 | &nbsp;&nbsp;&nbsp; 13597457 |
|  |  | &nbsp;&nbsp;&nbsp; 30729841 |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| Regeneron Pharmaceuticals, Inc.  | 14354 | &nbsp;&nbsp;&nbsp; 8070824 |
| **Broadline Retail — 1.4%** | **Broadline Retail — 1.4%** | **Broadline Retail — 1.4%** |
| eBay, Inc.  | 288233 | &nbsp;&nbsp;&nbsp; 26214791 |
| **Building Products — 1.6%** | **Building Products — 1.6%** | **Building Products — 1.6%** |
| Johnson Controls International PLC (a) | 268956 | &nbsp;&nbsp;&nbsp; 29571712 |
| **Capital Markets — 2.7%** | **Capital Markets — 2.7%** | **Capital Markets — 2.7%** |
| Goldman Sachs Group, Inc.  | 13771 | &nbsp;&nbsp;&nbsp; 10966536 |
| State Street Corp.  | 347087 | &nbsp;&nbsp;&nbsp; 40265563 |
|  |  | &nbsp;&nbsp;&nbsp; 51232099 |
| **Chemicals — 1.8%** | **Chemicals — 1.8%** | **Chemicals — 1.8%** |
| Corteva, Inc.  | 165315 | &nbsp;&nbsp;&nbsp; 11180254 |
| International Flavors & Fragrances, Inc.  | 378510 | &nbsp;&nbsp;&nbsp; 23293505 |
|  |  | &nbsp;&nbsp;&nbsp; 34473759 |
| **Communications Equipment — 3.1%** | **Communications Equipment — 3.1%** | **Communications Equipment — 3.1%** |
| Cisco Systems, Inc.  | 679535 | &nbsp;&nbsp;&nbsp; 46493784 |
| F5, Inc. (b) | 35899 | &nbsp;&nbsp;&nbsp; 11602198 |
|  |  | &nbsp;&nbsp;&nbsp; 58095982 |
| **Consumer Finance — 0.4%** | **Consumer Finance — 0.4%** | **Consumer Finance — 0.4%** |
| Capital One Financial Corp.  | 36379 | &nbsp;&nbsp;&nbsp; 7733448 |
| **Consumer Staples Distribution & Retail — 1.8%** | **Consumer Staples Distribution & Retail — 1.8%** | **Consumer Staples Distribution & Retail — 1.8%** |
| Sysco Corp.  | 402111 | &nbsp;&nbsp;&nbsp; 33109820 |
| **Containers & Packaging — 1.0%** | **Containers & Packaging — 1.0%** | **Containers & Packaging — 1.0%** |
| International Paper Co.  | 410716 | &nbsp;&nbsp;&nbsp; 19057222 |
| **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** |
| Evergy, Inc.  | 217628 | &nbsp;&nbsp;&nbsp; 16544080 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Electrical Equipment — 2.8%** | **Electrical Equipment — 2.8%** | **Electrical Equipment — 2.8%** |
| Eaton Corp. PLC | 72814 | &nbsp;&nbsp;&nbsp; $27250639 |
| Emerson Electric Co.  | 191093 | &nbsp;&nbsp;&nbsp; 25067580 |
|  |  | &nbsp;&nbsp;&nbsp; 52318219 |
| **Energy Equipment & Services — 0.5%** | **Energy Equipment & Services — 0.5%** | **Energy Equipment & Services — 0.5%** |
| Tenaris SA (a) | 572590 | &nbsp;&nbsp;&nbsp; 10248652 |
| **Entertainment — 1.3%** | **Entertainment — 1.3%** | **Entertainment — 1.3%** |
| Universal Music Group NV (a) | 360613 | &nbsp;&nbsp;&nbsp; 10466467 |
| Walt Disney Co.  | 128817 | &nbsp;&nbsp;&nbsp; 14749547 |
|  |  | &nbsp;&nbsp;&nbsp; 25216014 |
| **Health Care Equipment & Supplies — 2.7%** | **Health Care Equipment & Supplies — 2.7%** | **Health Care Equipment & Supplies — 2.7%** |
| Becton Dickinson & Co.  | 95482 | &nbsp;&nbsp;&nbsp; 17871366 |
| GE HealthCare Technologies, Inc.  | 165943 | &nbsp;&nbsp;&nbsp; 12462319 |
| Medtronic PLC | 217781 | &nbsp;&nbsp;&nbsp; 20741463 |
|  |  | &nbsp;&nbsp;&nbsp; 51075148 |
| **Health Care Providers & Services — 6.3%** | **Health Care Providers & Services — 6.3%** | **Health Care Providers & Services — 6.3%** |
| CVS Health Corp.  | 659010 | &nbsp;&nbsp;&nbsp; 49682764 |
| Elevance Health, Inc.  | 91620 | &nbsp;&nbsp;&nbsp; 29604254 |
| Henry Schein, Inc. (b) | 199038 | &nbsp;&nbsp;&nbsp; 13210152 |
| Humana, Inc.  | 44176 | &nbsp;&nbsp;&nbsp; 11493270 |
| UnitedHealth Group, Inc.  | 46287 | &nbsp;&nbsp;&nbsp; 15982901 |
|  |  | &nbsp;&nbsp;&nbsp; 119973341 |
| **Hotels, Restaurants & Leisure — 3.8%** | **Hotels, Restaurants & Leisure — 3.8%** | **Hotels, Restaurants & Leisure — 3.8%** |
| Domino's Pizza, Inc. (a) | 42822 | &nbsp;&nbsp;&nbsp; 18486686 |
| Las Vegas Sands Corp.  | 218753 | &nbsp;&nbsp;&nbsp; 11766724 |
| Restaurant Brands International, Inc. (a) | 331847 | &nbsp;&nbsp;&nbsp; 21288568 |
| Starbucks Corp. (a) | 252644 | &nbsp;&nbsp;&nbsp; 21373682 |
|  |  | &nbsp;&nbsp;&nbsp; 72915660 |
| **Household Products — 3.8%** | **Household Products — 3.8%** | **Household Products — 3.8%** |
| Clorox Co.  | 132730 | &nbsp;&nbsp;&nbsp; 16365609 |
| Kimberly-Clark Corp.  | 217979 | &nbsp;&nbsp;&nbsp; 27103509 |
| Reckitt Benckiser Group PLC | 379609 | &nbsp;&nbsp;&nbsp; 29317476 |
|  |  | &nbsp;&nbsp;&nbsp; 72786594 |
| **Insurance — 2.1%** | **Insurance — 2.1%** | **Insurance — 2.1%** |
| Allstate Corp.  | 68117 | &nbsp;&nbsp;&nbsp; 14621314 |
| American International Group, Inc.  | 315281 | &nbsp;&nbsp;&nbsp; 24762170 |
|  |  | &nbsp;&nbsp;&nbsp; 39383484 |
| **Interactive Media & Services — 4.6%** | **Interactive Media & Services — 4.6%** | **Interactive Media & Services — 4.6%** |
| Alphabet, Inc. - Class A | 223177 | &nbsp;&nbsp;&nbsp; 54254329 |
| Meta Platforms, Inc. - Class A | 43919 | &nbsp;&nbsp;&nbsp; 32253235 |
|  |  | &nbsp;&nbsp;&nbsp; 86507564 |
| **IT Services — 2.1%** | **IT Services — 2.1%** | **IT Services — 2.1%** |
| Cognizant Technology Solutions Corp. - Class A | 418839 | &nbsp;&nbsp;&nbsp; 28091532 |
| DXC Technology Co. (b) | 803175 | &nbsp;&nbsp;&nbsp; 10947275 |
|  |  | &nbsp;&nbsp;&nbsp; 39038807 |

---

**BHFTI-148**

------

**Brighthouse Funds Trust I**

**Invesco Comstock Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Life Sciences Tools & Services — 1.3%** | **Life Sciences Tools & Services — 1.3%** | **Life Sciences Tools & Services — 1.3%** |
| ICON PLC (b) | 69840 | &nbsp;&nbsp;&nbsp; $12222000 |
| IQVIA Holdings, Inc. (b) | 63563 | &nbsp;&nbsp;&nbsp; 12073156 |
|  |  | &nbsp;&nbsp;&nbsp; 24295156 |
| **Machinery — 2.3%** | **Machinery — 2.3%** | **Machinery — 2.3%** |
| Caterpillar, Inc.  | 45928 | &nbsp;&nbsp;&nbsp; 21914545 |
| Westinghouse Air Brake Technologies Corp.  | 107098 | &nbsp;&nbsp;&nbsp; 21469936 |
|  |  | &nbsp;&nbsp;&nbsp; 43384481 |
| **Media — 2.0%** | **Media — 2.0%** | **Media — 2.0%** |
| Charter Communications, Inc. - Class A (a) (b) | 87165 | &nbsp;&nbsp;&nbsp; 23979527 |
| Comcast Corp. - Class A | 469092 | &nbsp;&nbsp;&nbsp; 14738871 |
|  |  | &nbsp;&nbsp;&nbsp; 38718398 |
| **Multi-Utilities — 3.2%** | **Multi-Utilities — 3.2%** | **Multi-Utilities — 3.2%** |
| Dominion Energy, Inc. (a) | 412328 | &nbsp;&nbsp;&nbsp; 25222104 |
| Sempra | 398769 | &nbsp;&nbsp;&nbsp; 35881234 |
|  |  | &nbsp;&nbsp;&nbsp; 61103338 |
| **Oil, Gas & Consumable Fuels — 6.6%** | **Oil, Gas & Consumable Fuels — 6.6%** | **Oil, Gas & Consumable Fuels — 6.6%** |
| Chevron Corp.  | 299857 | &nbsp;&nbsp;&nbsp; 46564794 |
| ConocoPhillips | 256476 | &nbsp;&nbsp;&nbsp; 24260065 |
| EQT Corp.  | 188405 | &nbsp;&nbsp;&nbsp; 10254884 |
| Exxon Mobil Corp.  | 153711 | &nbsp;&nbsp;&nbsp; 17330915 |
| Suncor Energy, Inc.  | 664662 | &nbsp;&nbsp;&nbsp; 27789518 |
|  |  | &nbsp;&nbsp;&nbsp; 126200176 |
| **Pharmaceuticals — 6.1%** | **Pharmaceuticals — 6.1%** | **Pharmaceuticals — 6.1%** |
| AstraZeneca PLC | 176489 | &nbsp;&nbsp;&nbsp; 26959276 |
| Bristol-Myers Squibb Co.  | 289455 | &nbsp;&nbsp;&nbsp; 13054421 |
| Johnson & Johnson | 141917 | &nbsp;&nbsp;&nbsp; 26314250 |
| Merck & Co., Inc.  | 281597 | &nbsp;&nbsp;&nbsp; 23634436 |
| Sanofi SA (ADR) | 555529 | &nbsp;&nbsp;&nbsp; 26220969 |
|  |  | &nbsp;&nbsp;&nbsp; 116183352 |
| **Professional Services — 0.8%** | **Professional Services — 0.8%** | **Professional Services — 0.8%** |
| TransUnion | 181362 | &nbsp;&nbsp;&nbsp; 15194508 |
| **Semiconductors & Semiconductor Equipment — 3.6%** | **Semiconductors & Semiconductor Equipment — 3.6%** | **Semiconductors & Semiconductor Equipment — 3.6%** |
| Intel Corp. (b) | 622723 | &nbsp;&nbsp;&nbsp; 20892357 |
| NXP Semiconductors NV | 148418 | &nbsp;&nbsp;&nbsp; 33799231 |
| QUALCOMM, Inc.  | 83294 | &nbsp;&nbsp;&nbsp; 13856790 |
|  |  | &nbsp;&nbsp;&nbsp; 68548378 |
| **Software — 3.2%** | **Software — 3.2%** | **Software — 3.2%** |
| Microsoft Corp.  | 117943 | &nbsp;&nbsp;&nbsp; 61088577 |
| **Specialized REITs — 0.8%** | **Specialized REITs — 0.8%** | **Specialized REITs — 0.8%** |
| SBA Communications Corp.  | 76649 | &nbsp;&nbsp;&nbsp; 14820084 |
| **Textiles, Apparel & Luxury Goods — 0.8%** | **Textiles, Apparel & Luxury Goods — 0.8%** | **Textiles, Apparel & Luxury Goods — 0.8%** |
| NIKE, Inc. - Class B | 226000 | &nbsp;&nbsp;&nbsp; 15758980 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Tobacco — 1.7%** | **Tobacco — 1.7%** | **Tobacco — 1.7%** |
| Philip Morris International, Inc.  | 202449 | &nbsp;&nbsp;&nbsp; $32837228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,358,821,098) <br>|  | &nbsp;&nbsp;&nbsp; 1840108316 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—3.2%** | **Short-Term Investments—3.2%** | **Short-Term Investments—3.2%** |
| **Repurchase Agreement—3.2%** | **Repurchase Agreement—3.2%** | **Repurchase Agreement—3.2%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $60,073,155; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $61,269,705<br>| 60068150 | &nbsp;&nbsp;&nbsp; 60068150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $60,068,150) <br>|  | &nbsp;&nbsp;&nbsp; 60068150 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—1.3%** | **Securities Lending Reinvestments (c)—1.3%** | **Securities Lending Reinvestments (c)—1.3%** |
| **Short-Term Investment Funds—0.6%** | **Short-Term Investment Funds—0.6%** | **Short-Term Investment Funds—0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares 4.020% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 11000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements—0.5%** | **Repurchase Agreements—0.5%** | **Repurchase Agreements—0.5%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $4,000,467; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,449,343<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $1,000,117; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $100,012; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $3,508,100; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $3,577,845<br>| 3507692 | &nbsp;&nbsp;&nbsp; 3507692 |

---

**BHFTI-149**

------

**Brighthouse Funds Trust I**

**Invesco Comstock Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $100,011; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; $100000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,100,128<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 9707692 |
| **Time Deposits—0.2%** | **Time Deposits—0.2%** | **Time Deposits—0.2%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $24,707,692) <br>|  | &nbsp;&nbsp;&nbsp; 24707692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—101.3% <br>(Cost $1,443,596,940) <br>|  | &nbsp;&nbsp;&nbsp; 1924884158 |
| Other assets and liabilities (net)—(1.3)%  |  | &nbsp;&nbsp;&nbsp; (24436314)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1900447844 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) All or a portion of the security was held on loan. As of September 30, 2025, the market value of 

---

| | |
|:---|:---|
|  | securities loaned was $75,213,687 and the collateral received consisted of cash in the amount of <br> $24,707,692 and non-cash collateral with a value of $52,182,231. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (b) | Non-income producing security. |
| (c) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (d) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |

---

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| CAD | &nbsp;&nbsp; 1457521 | DBAG | 10/08/25 | USD | 1057561 | &nbsp;&nbsp; $(9913)<br>|
| CAD | &nbsp;&nbsp; 670194 | JPMC | 10/08/25 | USD | 484513 | &nbsp;&nbsp; (2786)<br>|
| EUR | &nbsp;&nbsp; 1148520 | DBAG | 10/08/25 | USD | 1348304 | &nbsp;&nbsp; 614 |
| GBP | &nbsp;&nbsp; 475393 | CIBC | 10/08/25 | USD | 640427 | &nbsp;&nbsp; (1048)<br>|
| GBP | &nbsp;&nbsp; 500624 | RBC | 10/08/25 | USD | 671163 | &nbsp;&nbsp; 2151 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| CAD | &nbsp;&nbsp; 1175866 | BBP | 10/08/25 | USD | 849659 | &nbsp;&nbsp; 4461 |
| CAD | &nbsp;&nbsp; 1124131 | GSI | 10/08/25 | USD | 806677 | &nbsp;&nbsp; (1335)<br>|
| CAD | &nbsp;&nbsp; 1175866 | JPMC | 10/08/25 | USD | 849895 | &nbsp;&nbsp; 4697 |
| CAD | &nbsp;&nbsp; 33369878 | RBC | 10/08/25 | USD | 24153732 | &nbsp;&nbsp; 167868 |
| EUR | &nbsp;&nbsp; 27972054 | RBC | 10/08/25 | USD | 32621988 | &nbsp;&nbsp; (230727)<br>|

---

**BHFTI-150**

------

**Brighthouse Funds Trust I**

**Invesco Comstock Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| GBP | &nbsp;&nbsp; 21189622<br> DBAG | 10/08/25 | USD | 28451861 | &nbsp;&nbsp; $(47086)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp; $(113104)<br>|

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp; $25501025 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $25501025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp;&nbsp; 32808717 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 32808717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; 279368857 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 279368857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; 13597457 | &nbsp;&nbsp;&nbsp; 17132384 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30729841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp; 8070824 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8070824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp; 26214791 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26214791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp; 29571712 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29571712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp; 51232099 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 51232099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; 34473759 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34473759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp; 58095982 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 58095982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp; 7733448 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7733448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp; 33109820 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33109820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp; 19057222 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19057222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp; 16544080 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16544080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp; 52318219 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52318219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10248652 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10248652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; 14749547 | &nbsp;&nbsp;&nbsp; 10466467 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25216014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; 51075148 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 51075148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; 119973341 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 119973341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 72915660 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 72915660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp; 43469118 | &nbsp;&nbsp;&nbsp; 29317476 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 72786594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 39383484 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39383484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; 86507564 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 86507564 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 39038807 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39038807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp; 24295156 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24295156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 43384481 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43384481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; 38718398 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 38718398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp; 61103338 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 61103338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 126200176 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 126200176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; 89224076 | &nbsp;&nbsp;&nbsp; 26959276 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 116183352 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp; 15194508 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15194508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 68548378 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 68548378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 61088577 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 61088577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; 14820084 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14820084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp; 15758980 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15758980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp; 32837228 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 32837228 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 1745984061 | &nbsp;&nbsp;&nbsp; 94124255 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1840108316 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60068150 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60068150 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9707692 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9707692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp; 13707692 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24707692 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1756984061 | &nbsp;&nbsp;&nbsp; $167900097 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1924884158 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(24707692)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(24707692)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $179791 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $179791 |

---

**BHFTI-151**

------

**Brighthouse Funds Trust I**

**Invesco Comstock Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(292895)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(292895)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(113104)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(113104)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-152**

------

**Brighthouse Funds Trust I**

**Invesco Global Equity Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—100.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Brazil — 0.6%** | **Brazil — 0.6%** | **Brazil — 0.6%** |
| MercadoLibre, Inc. (a) | 2942 | &nbsp;&nbsp;&nbsp; $6875278 |
| **Canada — 2.2%** | **Canada — 2.2%** | **Canada — 2.2%** |
| Shopify, Inc. - Class A (a) | 169245 | &nbsp;&nbsp;&nbsp; 25151499 |
| **China — 3.2%** | **China — 3.2%** | **China — 3.2%** |
| JD.com, Inc. (ADR) (b) | 682899 | &nbsp;&nbsp;&nbsp; 23887807 |
| Tencent Holdings Ltd.  | 143900 | &nbsp;&nbsp;&nbsp; 12259674 |
|  |  | &nbsp;&nbsp;&nbsp; 36147481 |
| **France — 6.0%** | **France — 6.0%** | **France — 6.0%** |
| Airbus SE | 170918 | &nbsp;&nbsp;&nbsp; 39954700 |
| EssilorLuxottica SA | 39347 | &nbsp;&nbsp;&nbsp; 12834046 |
| LVMH Moet Hennessy Louis Vuitton SE | 23253 | &nbsp;&nbsp;&nbsp; 14228142 |
|  |  | &nbsp;&nbsp;&nbsp; 67016888 |
| **Germany — 3.6%** | **Germany — 3.6%** | **Germany — 3.6%** |
| Allianz SE | 21541 | &nbsp;&nbsp;&nbsp; 9054599 |
| SAP SE | 118469 | &nbsp;&nbsp;&nbsp; 31760549 |
|  |  | &nbsp;&nbsp;&nbsp; 40815148 |
| **India — 5.4%** | **India — 5.4%** | **India — 5.4%** |
| DLF Ltd.  | 4608099 | &nbsp;&nbsp;&nbsp; 37093042 |
| HDFC Bank Ltd.  | 521357 | &nbsp;&nbsp;&nbsp; 5594600 |
| ICICI Bank Ltd. (ADR) | 606257 | &nbsp;&nbsp;&nbsp; 18327149 |
|  |  | &nbsp;&nbsp;&nbsp; 61014791 |
| **Israel — 0.5%** | **Israel — 0.5%** | **Israel — 0.5%** |
| Nice Ltd. (ADR) (a) (b) | 34572 | &nbsp;&nbsp;&nbsp; 5005334 |
| **Italy — 1.5%** | **Italy — 1.5%** | **Italy — 1.5%** |
| Brunello Cucinelli SpA (b) | 93264 | &nbsp;&nbsp;&nbsp; 10241223 |
| Ferrari NV | 9262 | &nbsp;&nbsp;&nbsp; 4484217 |
| Moncler SpA | 37639 | &nbsp;&nbsp;&nbsp; 2208075 |
|  |  | &nbsp;&nbsp;&nbsp; 16933515 |
| **Japan — 2.3%** | **Japan — 2.3%** | **Japan — 2.3%** |
| Capcom Co. Ltd. (b) | 318000 | &nbsp;&nbsp;&nbsp; 8656168 |
| Hoya Corp.  | 41500 | &nbsp;&nbsp;&nbsp; 5732826 |
| Keyence Corp.  | 30700 | &nbsp;&nbsp;&nbsp; 11430577 |
|  |  | &nbsp;&nbsp;&nbsp; 25819571 |
| **Netherlands — 2.3%** | **Netherlands — 2.3%** | **Netherlands — 2.3%** |
| Adyen NV (a) | 9131 | &nbsp;&nbsp;&nbsp; 14653886 |
| ASML Holding NV | 3554 | &nbsp;&nbsp;&nbsp; 3465016 |
| BE Semiconductor Industries NV | 34582 | &nbsp;&nbsp;&nbsp; 5186605 |
| Universal Music Group NV (b) | 101084 | &nbsp;&nbsp;&nbsp; 2933872 |
|  |  | &nbsp;&nbsp;&nbsp; 26239379 |
| **Spain — 1.3%** | **Spain — 1.3%** | **Spain — 1.3%** |
| Amadeus IT Group SA | 189101 | &nbsp;&nbsp;&nbsp; 14966743 |
| **Sweden — 1.1%** | **Sweden — 1.1%** | **Sweden — 1.1%** |
| Assa Abloy AB - Class B | 180779 | &nbsp;&nbsp;&nbsp; 6343028 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Sweden — (Continued)** | **Sweden — (Continued)** | **Sweden — (Continued)** |
| Atlas Copco AB - A Shares | 337451 | &nbsp;&nbsp;&nbsp; $5746170 |
|  |  | &nbsp;&nbsp;&nbsp; 12089198 |
| **Switzerland — 1.8%** | **Switzerland — 1.8%** | **Switzerland — 1.8%** |
| Galderma Group AG | 35297 | &nbsp;&nbsp;&nbsp; 6162871 |
| Lonza Group AG | 21211 | &nbsp;&nbsp;&nbsp; 14235489 |
|  |  | &nbsp;&nbsp;&nbsp; 20398360 |
| **Taiwan — 3.8%** | **Taiwan — 3.8%** | **Taiwan — 3.8%** |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 974000 | &nbsp;&nbsp;&nbsp; 42373240 |
| **United States — 64.5%** | **United States — 64.5%** | **United States — 64.5%** |
| Alphabet, Inc. - Class A | 454092 | &nbsp;&nbsp;&nbsp; 110389765 |
| Amazon.com, Inc. (a) | 105982 | &nbsp;&nbsp;&nbsp; 23270468 |
| Analog Devices, Inc.  | 140741 | &nbsp;&nbsp;&nbsp; 34580064 |
| ARM Holdings PLC (ADR) (a) (b) | 62163 | &nbsp;&nbsp;&nbsp; 8795443 |
| Boston Scientific Corp. (a) | 153063 | &nbsp;&nbsp;&nbsp; 14943541 |
| Broadcom, Inc.  | 103235 | &nbsp;&nbsp;&nbsp; 34058259 |
| Cadence Design Systems, Inc. (a) | 18268 | &nbsp;&nbsp;&nbsp; 6416818 |
| Ecolab, Inc.  | 24841 | &nbsp;&nbsp;&nbsp; 6802956 |
| Eli Lilly & Co.  | 37216 | &nbsp;&nbsp;&nbsp; 28395808 |
| Equifax, Inc.  | 48135 | &nbsp;&nbsp;&nbsp; 12348072 |
| IDEXX Laboratories, Inc. (a) | 8694 | &nbsp;&nbsp;&nbsp; 5554510 |
| Intuit, Inc.  | 42276 | &nbsp;&nbsp;&nbsp; 28870703 |
| Intuitive Surgical, Inc. (a) | 31523 | &nbsp;&nbsp;&nbsp; 14098031 |
| IQVIA Holdings, Inc. (a) | 26847 | &nbsp;&nbsp;&nbsp; 5099319 |
| Lam Research Corp.  | 232104 | &nbsp;&nbsp;&nbsp; 31078726 |
| Linde PLC | 7649 | &nbsp;&nbsp;&nbsp; 3633275 |
| Marriott International, Inc. - Class A | 40823 | &nbsp;&nbsp;&nbsp; 10631942 |
| Marvell Technology, Inc. (b) | 172039 | &nbsp;&nbsp;&nbsp; 14463319 |
| Mastercard, Inc. - Class A | 18892 | &nbsp;&nbsp;&nbsp; 10745958 |
| Meta Platforms, Inc. - Class A | 109481 | &nbsp;&nbsp;&nbsp; 80400657 |
| Microsoft Corp.  | 69186 | &nbsp;&nbsp;&nbsp; 35834889 |
| Netflix, Inc. (a) | 18858 | &nbsp;&nbsp;&nbsp; 22609233 |
| NVIDIA Corp.  | 323380 | &nbsp;&nbsp;&nbsp; 60336240 |
| Phathom Pharmaceuticals, Inc. (a) (b) | 239887 | &nbsp;&nbsp;&nbsp; 2823470 |
| S&P Global, Inc.  | 87199 | &nbsp;&nbsp;&nbsp; 42440625 |
| ServiceNow, Inc. (a) | 7003 | &nbsp;&nbsp;&nbsp; 6444721 |
| Spotify Technology SA (a) | 15469 | &nbsp;&nbsp;&nbsp; 10797362 |
| Stryker Corp.  | 13211 | &nbsp;&nbsp;&nbsp; 4883710 |
| Thermo Fisher Scientific, Inc.  | 23858 | &nbsp;&nbsp;&nbsp; 11571607 |
| TJX Cos., Inc.  | 57966 | &nbsp;&nbsp;&nbsp; 8378406 |
| Visa, Inc. - Class A (b) | 102008 | &nbsp;&nbsp;&nbsp; 34823491 |
| Zoetis, Inc.  | 17991 | &nbsp;&nbsp;&nbsp; 2632443 |
|  |  | &nbsp;&nbsp;&nbsp; 728153831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $614,469,639) <br>|  | &nbsp;&nbsp;&nbsp; 1129000256 |

---

**BHFTI-153**

------

**Brighthouse Funds Trust I**

**Invesco Global Equity Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Short-Term Investments—0.4%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Repurchase Agreement — 0.4%** | **Repurchase Agreement — 0.4%** | **Repurchase Agreement — 0.4%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25 with a maturity value of $4,883,472; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $4,980,728<br>| 4883065 | &nbsp;&nbsp;&nbsp; $4883065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $4,883,065) <br>|  | &nbsp;&nbsp;&nbsp; 4883065 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—2.0%** | **Securities Lending Reinvestments (c)—2.0%** | **Securities Lending Reinvestments (c)—2.0%** |
| **Short-Term Investment Funds — 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class, 4.070% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares, 4.020% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class , 4.040% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares, 3.990% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares, 4.050% (d)<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares, 4.060% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 16000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Time Deposit — 0.1%** | **Time Deposit — 0.1%** | **Time Deposit — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA <br>4.090%, 10/01/25<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| **Repurchase Agreements — 0.5%** | **Repurchase Agreements — 0.5%** | **Repurchase Agreements — 0.5%** |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $1,000,116; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $1,020,000<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $200,023; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $204,000<br>| 200000 | &nbsp;&nbsp;&nbsp; 200000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $3,612,558; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $3,684,380<br>| 3612138 | &nbsp;&nbsp;&nbsp; 3612138 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $200,023; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $204,000<br>| 200000 | &nbsp;&nbsp;&nbsp; $200000 |
|  |  | &nbsp;&nbsp;&nbsp; 5012138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $22,012,138) <br>|  | &nbsp;&nbsp;&nbsp; 22012138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—102.5% <br>(Cost $641,364,842) <br>|  | &nbsp;&nbsp;&nbsp; 1155895459 |
| Other assets and liabilities (net)—(2.5)%  |  | &nbsp;&nbsp;&nbsp; (27666418)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1128229041 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $94,441,331 and the collateral received consisted of cash in the amount of $22,012,138 and non-cash collateral with a value of $74,280,827. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(d) The rate shown represents the annualized seven-day yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Ten Largest Industries as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Semiconductors & Semiconductor Equipment | 20.8 |
| Interactive Media & Services | 18.0 |
| Software | 10.1 |
| Financial Services | 5.3 |
| Health Care Equipment & Supplies | 5.2 |
| Broadline Retail | 4.8 |
| Entertainment | 4.0 |
| Capital Markets | 3.8 |
| Pharmaceuticals | 3.6 |
| Aerospace & Defense | 3.5 |

---

**BHFTI-154**

------

**Brighthouse Funds Trust I**

**Invesco Global Equity Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp; $6875278 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $6875278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp; 25151499 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25151499 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp; 23887807 | &nbsp;&nbsp;&nbsp; 12259674 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36147481 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 67016888 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 67016888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40815148 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40815148 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp; 18327149 | &nbsp;&nbsp;&nbsp; 42687642 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 61014791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israel | &nbsp;&nbsp;&nbsp; 5005334 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5005334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16933515 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16933515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25819571 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25819571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26239379 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26239379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14966743 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14966743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12089198 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12089198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20398360 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20398360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 42373240 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 42373240 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; 728153831 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 728153831 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 807400898 | &nbsp;&nbsp;&nbsp; 321599358 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1129000256 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4883065 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4883065 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5012138 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5012138 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp; 6012138 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22012138 |
| Total Investments | &nbsp;&nbsp;&nbsp; $823400898 | &nbsp;&nbsp;&nbsp; $332494561 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1155895459 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(22012138)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(22012138)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-155**

------

**Brighthouse Funds Trust I**

**Invesco Small Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—100.1% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 5.4%** | **Aerospace & Defense — 5.4%** | **Aerospace & Defense — 5.4%** |
| AeroVironment, Inc. (a) | 22646 | &nbsp;&nbsp;&nbsp; $7130999 |
| BWX Technologies, Inc.  | 50506 | &nbsp;&nbsp;&nbsp; 9311791 |
| Kratos Defense & Security Solutions, Inc. (a) | 212067 | &nbsp;&nbsp;&nbsp; 19376562 |
| Loar Holdings, Inc. (a) | 5499 | &nbsp;&nbsp;&nbsp; 439920 |
| Rocket Lab Corp. (a) (b) | 211178 | &nbsp;&nbsp;&nbsp; 10117538 |
|  |  | &nbsp;&nbsp;&nbsp; 46376810 |
| **Banks — 2.0%** | **Banks — 2.0%** | **Banks — 2.0%** |
| Bancorp, Inc. (a) | 146980 | &nbsp;&nbsp;&nbsp; 11007332 |
| Western Alliance Bancorp | 68464 | &nbsp;&nbsp;&nbsp; 5937198 |
|  |  | &nbsp;&nbsp;&nbsp; 16944530 |
| **Biotechnology — 7.9%** | **Biotechnology — 7.9%** | **Biotechnology — 7.9%** |
| ADMA Biologics, Inc. (a) | 449658 | &nbsp;&nbsp;&nbsp; 6591986 |
| Ascendis Pharma AS (ADR) (a) | 44686 | &nbsp;&nbsp;&nbsp; 8884024 |
| Bridgebio Pharma, Inc. (a) | 178168 | &nbsp;&nbsp;&nbsp; 9254046 |
| Halozyme Therapeutics, Inc. (a) | 103041 | &nbsp;&nbsp;&nbsp; 7557027 |
| Insmed, Inc. (a) | 110383 | &nbsp;&nbsp;&nbsp; 15896256 |
| Madrigal Pharmaceuticals, Inc. (a) | 26394 | &nbsp;&nbsp;&nbsp; 12105872 |
| Soleno Therapeutics, Inc. (a) | 107679 | &nbsp;&nbsp;&nbsp; 7279100 |
|  |  | &nbsp;&nbsp;&nbsp; 67568311 |
| **Broadline Retail — 1.7%** | **Broadline Retail — 1.7%** | **Broadline Retail — 1.7%** |
| Ollie's Bargain Outlet Holdings, Inc. (a) | 111111 | &nbsp;&nbsp;&nbsp; 14266652 |
| **Building Products — 2.0%** | **Building Products — 2.0%** | **Building Products — 2.0%** |
| Armstrong World Industries, Inc.  | 39876 | &nbsp;&nbsp;&nbsp; 7816095 |
| Zurn Elkay Water Solutions Corp.  | 188501 | &nbsp;&nbsp;&nbsp; 8865202 |
|  |  | &nbsp;&nbsp;&nbsp; 16681297 |
| **Capital Markets — 6.1%** | **Capital Markets — 6.1%** | **Capital Markets — 6.1%** |
| Bullish (a) | 30553 | &nbsp;&nbsp;&nbsp; 1943476 |
| Evercore, Inc. - Class A | 34644 | &nbsp;&nbsp;&nbsp; 11686114 |
| Galaxy Digital, Inc. - Class A (a) (b) | 129876 | &nbsp;&nbsp;&nbsp; 4391108 |
| Hamilton Lane, Inc. - Class A | 53106 | &nbsp;&nbsp;&nbsp; 7158158 |
| Piper Sandler Cos.  | 46895 | &nbsp;&nbsp;&nbsp; 16272096 |
| StepStone Group, Inc. - Class A | 153588 | &nbsp;&nbsp;&nbsp; 10030832 |
|  |  | &nbsp;&nbsp;&nbsp; 51481784 |
| **Chemicals — 0.8%** | **Chemicals — 0.8%** | **Chemicals — 0.8%** |
| Element Solutions, Inc. (b) | 262851 | &nbsp;&nbsp;&nbsp; 6615960 |
| **Commercial Services & Supplies — 2.1%** | **Commercial Services & Supplies — 2.1%** | **Commercial Services & Supplies — 2.1%** |
| Casella Waste Systems, Inc. - Class A (a) | 60969 | &nbsp;&nbsp;&nbsp; 5784739 |
| Clean Harbors, Inc. (a) | 51568 | &nbsp;&nbsp;&nbsp; 11975121 |
|  |  | &nbsp;&nbsp;&nbsp; 17759860 |
| **Construction & Engineering — 4.4%** | **Construction & Engineering — 4.4%** | **Construction & Engineering — 4.4%** |
| API Group Corp. (a) | 246730 | &nbsp;&nbsp;&nbsp; 8480110 |
| Construction Partners, Inc. - Class A (a) | 40773 | &nbsp;&nbsp;&nbsp; 5178171 |
| Everus Construction Group, Inc. (a) | 121216 | &nbsp;&nbsp;&nbsp; 10394272 |
| Limbach Holdings, Inc. (a) | 44396 | &nbsp;&nbsp;&nbsp; 4311740 |
| Sterling Infrastructure, Inc. (a) | 26933 | &nbsp;&nbsp;&nbsp; 9148601 |
|  |  | &nbsp;&nbsp;&nbsp; 37512894 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Consumer Finance — 0.6%** | **Consumer Finance — 0.6%** | **Consumer Finance — 0.6%** |
| Upstart Holdings, Inc. (a) (b) | 94336 | &nbsp;&nbsp;&nbsp; $4792269 |
| **Diversified Consumer Services — 0.9%** | **Diversified Consumer Services — 0.9%** | **Diversified Consumer Services — 0.9%** |
| Stride, Inc. (a) | 50695 | &nbsp;&nbsp;&nbsp; 7550513 |
| **Electrical Equipment — 3.3%** | **Electrical Equipment — 3.3%** | **Electrical Equipment — 3.3%** |
| Bloom Energy Corp. - Class A (a) | 80091 | &nbsp;&nbsp;&nbsp; 6773296 |
| Hammond Power Solutions, Inc.  | 52783 | &nbsp;&nbsp;&nbsp; 4682467 |
| nVent Electric PLC | 107855 | &nbsp;&nbsp;&nbsp; 10638817 |
| Regal Rexnord Corp. (b) | 42626 | &nbsp;&nbsp;&nbsp; 6114273 |
|  |  | &nbsp;&nbsp;&nbsp; 28208853 |
| **Electronic Equipment, Instruments & Components — 9.4%** | **Electronic Equipment, Instruments & Components — 9.4%** | **Electronic Equipment, Instruments & Components — 9.4%** |
| Advanced Energy Industries, Inc.  | 82988 | &nbsp;&nbsp;&nbsp; 14119578 |
| Fabrinet (a) | 49256 | &nbsp;&nbsp;&nbsp; 17959723 |
| Itron, Inc. (a) | 52738 | &nbsp;&nbsp;&nbsp; 6569045 |
| Mirion Technologies, Inc. (a) | 329335 | &nbsp;&nbsp;&nbsp; 7660332 |
| OSI Systems, Inc. (a) | 17835 | &nbsp;&nbsp;&nbsp; 4445195 |
| Sanmina Corp. (a) | 148655 | &nbsp;&nbsp;&nbsp; 17111677 |
| TTM Technologies, Inc. (a) | 204666 | &nbsp;&nbsp;&nbsp; 11788762 |
|  |  | &nbsp;&nbsp;&nbsp; 79654312 |
| **Energy Equipment & Services — 1.0%** | **Energy Equipment & Services — 1.0%** | **Energy Equipment & Services — 1.0%** |
| TechnipFMC PLC | 206901 | &nbsp;&nbsp;&nbsp; 8162244 |
| **Financial Services — 2.6%** | **Financial Services — 2.6%** | **Financial Services — 2.6%** |
| Paymentus Holdings, Inc. - Class A (a) | 224866 | &nbsp;&nbsp;&nbsp; 6880900 |
| PennyMac Financial Services, Inc.  | 81612 | &nbsp;&nbsp;&nbsp; 10110094 |
| Shift4 Payments, Inc. - Class A (a) (b) | 67919 | &nbsp;&nbsp;&nbsp; 5256931 |
|  |  | &nbsp;&nbsp;&nbsp; 22247925 |
| **Food Products — 0.6%** | **Food Products — 0.6%** | **Food Products — 0.6%** |
| Post Holdings, Inc. (a) | 51167 | &nbsp;&nbsp;&nbsp; 5499429 |
| **Health Care Equipment & Supplies — 1.9%** | **Health Care Equipment & Supplies — 1.9%** | **Health Care Equipment & Supplies — 1.9%** |
| Glaukos Corp. (a) | 38115 | &nbsp;&nbsp;&nbsp; 3108278 |
| Integer Holdings Corp. (a) | 64631 | &nbsp;&nbsp;&nbsp; 6678321 |
| TransMedics Group, Inc. (a) (b) | 54077 | &nbsp;&nbsp;&nbsp; 6067440 |
|  |  | &nbsp;&nbsp;&nbsp; 15854039 |
| **Health Care Providers & Services — 5.7%** | **Health Care Providers & Services — 5.7%** | **Health Care Providers & Services — 5.7%** |
| Alignment Healthcare, Inc. (a) | 316763 | &nbsp;&nbsp;&nbsp; 5527514 |
| BrightSpring Health Services, Inc. (a) | 274526 | &nbsp;&nbsp;&nbsp; 8114989 |
| Encompass Health Corp.  | 107723 | &nbsp;&nbsp;&nbsp; 13682976 |
| Guardant Health, Inc. (a) | 213594 | &nbsp;&nbsp;&nbsp; 13345353 |
| HealthEquity, Inc. (a) | 80300 | &nbsp;&nbsp;&nbsp; 7610031 |
|  |  | &nbsp;&nbsp;&nbsp; 48280863 |
| **Health Care Technology — 0.8%** | **Health Care Technology — 0.8%** | **Health Care Technology — 0.8%** |
| Waystar Holding Corp. (a) | 172476 | &nbsp;&nbsp;&nbsp; 6540290 |
| **Hotels, Restaurants & Leisure — 3.8%** | **Hotels, Restaurants & Leisure — 3.8%** | **Hotels, Restaurants & Leisure — 3.8%** |
| Genius Sports Ltd. (a) | 646326 | &nbsp;&nbsp;&nbsp; 8001516 |
| Planet Fitness, Inc. - Class A (a) | 69205 | &nbsp;&nbsp;&nbsp; 7183479 |
| Shake Shack, Inc. - Class A (a) | 43187 | &nbsp;&nbsp;&nbsp; 4042735 |
| Travel & Leisure Co.  | 83624 | &nbsp;&nbsp;&nbsp; 4974792 |

---

**BHFTI-156**

------

**Brighthouse Funds Trust I**

**Invesco Small Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** |
| Wingstop, Inc.  | 12533 | &nbsp;&nbsp;&nbsp; $3154305 |
| Wyndham Hotels & Resorts, Inc.  | 58291 | &nbsp;&nbsp;&nbsp; 4657451 |
|  |  | &nbsp;&nbsp;&nbsp; 32014278 |
| **Household Durables — 0.6%** | **Household Durables — 0.6%** | **Household Durables — 0.6%** |
| Cavco Industries, Inc. (a) | 9436 | &nbsp;&nbsp;&nbsp; 5479768 |
| **Independent Power and Renewable Electricity Producers — 2.0%** | **Independent Power and Renewable Electricity Producers — 2.0%** | **Independent Power and Renewable Electricity Producers — 2.0%** |
| Talen Energy Corp. (a) | 39449 | &nbsp;&nbsp;&nbsp; 16780816 |
| **Insurance — 0.9%** | **Insurance — 0.9%** | **Insurance — 0.9%** |
| Palomar Holdings, Inc. (a) | 35410 | &nbsp;&nbsp;&nbsp; 4134118 |
| Root, Inc. - Class A (a) | 37926 | &nbsp;&nbsp;&nbsp; 3394756 |
|  |  | &nbsp;&nbsp;&nbsp; 7528874 |
| **Interactive Media & Services — 0.7%** | **Interactive Media & Services — 0.7%** | **Interactive Media & Services — 0.7%** |
| Cargurus, Inc. (a) | 173104 | &nbsp;&nbsp;&nbsp; 6444662 |
| **Life Sciences Tools & Services — 0.9%** | **Life Sciences Tools & Services — 0.9%** | **Life Sciences Tools & Services — 0.9%** |
| BioLife Solutions, Inc. (a) | 306956 | &nbsp;&nbsp;&nbsp; 7830448 |
| **Machinery — 8.1%** | **Machinery — 8.1%** | **Machinery — 8.1%** |
| Atmus Filtration Technologies, Inc.  | 159021 | &nbsp;&nbsp;&nbsp; 7170257 |
| Enpro, Inc.  | 48877 | &nbsp;&nbsp;&nbsp; 11046202 |
| ESCO Technologies, Inc.  | 36018 | &nbsp;&nbsp;&nbsp; 7603760 |
| Federal Signal Corp.  | 83456 | &nbsp;&nbsp;&nbsp; 9930429 |
| Mueller Industries, Inc.  | 76293 | &nbsp;&nbsp;&nbsp; 7713985 |
| RBC Bearings, Inc. (a) | 27026 | &nbsp;&nbsp;&nbsp; 10547978 |
| SPX Technologies, Inc. (a) | 81748 | &nbsp;&nbsp;&nbsp; 15268892 |
|  |  | &nbsp;&nbsp;&nbsp; 69281503 |
| **Metals & Mining — 2.7%** | **Metals & Mining — 2.7%** | **Metals & Mining — 2.7%** |
| Carpenter Technology Corp.  | 52062 | &nbsp;&nbsp;&nbsp; 12783304 |
| MP Materials Corp. (a) | 151144 | &nbsp;&nbsp;&nbsp; 10137228 |
|  |  | &nbsp;&nbsp;&nbsp; 22920532 |
| **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** |
| Antero Resources Corp. (a) | 196110 | &nbsp;&nbsp;&nbsp; 6581452 |
| Uranium Energy Corp. (a) | 381803 | &nbsp;&nbsp;&nbsp; 5093252 |
|  |  | &nbsp;&nbsp;&nbsp; 11674704 |
| **Pharmaceuticals — 0.8%** | **Pharmaceuticals — 0.8%** | **Pharmaceuticals — 0.8%** |
| Axsome Therapeutics, Inc. (a) | 54331 | &nbsp;&nbsp;&nbsp; 6598500 |
| **Professional Services — 0.6%** | **Professional Services — 0.6%** | **Professional Services — 0.6%** |
| CBIZ, Inc. (a) | 91168 | &nbsp;&nbsp;&nbsp; 4828257 |
| **Semiconductors & Semiconductor Equipment — 7.3%** | **Semiconductors & Semiconductor Equipment — 7.3%** | **Semiconductors & Semiconductor Equipment — 7.3%** |
| Impinj, Inc. (a) (b) | 81181 | &nbsp;&nbsp;&nbsp; 14673466 |
| Lattice Semiconductor Corp. (a) | 172305 | &nbsp;&nbsp;&nbsp; 12633402 |
| MACOM Technology Solutions Holdings, Inc. (a) | 112711 | &nbsp;&nbsp;&nbsp; 14031392 |
| Nova Ltd. (a) | 22847 | &nbsp;&nbsp;&nbsp; 7303272 |
| SiTime Corp. (a) | 45370 | &nbsp;&nbsp;&nbsp; 13670435 |
|  |  | &nbsp;&nbsp;&nbsp; 62311967 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software — 6.0%** | **Software — 6.0%** | **Software — 6.0%** |
| Agilysys, Inc. (a) | 79472 | &nbsp;&nbsp;&nbsp; $8364428 |
| AvePoint, Inc. (a) | 415272 | &nbsp;&nbsp;&nbsp; 6233233 |
| Box, Inc. - Class A (a) | 102604 | &nbsp;&nbsp;&nbsp; 3311031 |
| Cellebrite DI Ltd. (a) | 382101 | &nbsp;&nbsp;&nbsp; 7080332 |
| Commvault Systems, Inc. (a) | 53918 | &nbsp;&nbsp;&nbsp; 10178640 |
| D-Wave Quantum, Inc. (a) (b) | 119981 | &nbsp;&nbsp;&nbsp; 2964731 |
| Netskope, Inc. - Class A (a) | 35069 | &nbsp;&nbsp;&nbsp; 797118 |
| Porch Group, Inc. (a) | 356475 | &nbsp;&nbsp;&nbsp; 5981650 |
| ServiceTitan, Inc. - Class A (a) | 58115 | &nbsp;&nbsp;&nbsp; 5859735 |
|  |  | &nbsp;&nbsp;&nbsp; 50770898 |
| **Specialty Retail — 1.9%** | **Specialty Retail — 1.9%** | **Specialty Retail — 1.9%** |
| Boot Barn Holdings, Inc. (a) | 65315 | &nbsp;&nbsp;&nbsp; 10824002 |
| Floor & Decor Holdings, Inc. - Class A (a) | 75930 | &nbsp;&nbsp;&nbsp; 5596041 |
|  |  | &nbsp;&nbsp;&nbsp; 16420043 |
| **Textiles, Apparel & Luxury Goods — 1.3%** | **Textiles, Apparel & Luxury Goods — 1.3%** | **Textiles, Apparel & Luxury Goods — 1.3%** |
| Kontoor Brands, Inc. (b) | 83475 | &nbsp;&nbsp;&nbsp; 6658801 |
| Steven Madden Ltd.  | 144297 | &nbsp;&nbsp;&nbsp; 4831063 |
|  |  | &nbsp;&nbsp;&nbsp; 11489864 |
| **Trading Companies & Distributors — 1.9%** | **Trading Companies & Distributors — 1.9%** | **Trading Companies & Distributors — 1.9%** |
| Applied Industrial Technologies, Inc.  | 33464 | &nbsp;&nbsp;&nbsp; 8735777 |
| FTAI Aviation Ltd.  | 45400 | &nbsp;&nbsp;&nbsp; 7575444 |
|  |  | &nbsp;&nbsp;&nbsp; 16311221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $667,140,967) <br>|  | &nbsp;&nbsp;&nbsp; 850685170 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.1%** | **Short-Term Investments—0.1%** | **Short-Term Investments—0.1%** |
| **Repurchase Agreement—0.1%** | **Repurchase Agreement—0.1%** | **Repurchase Agreement—0.1%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $670,078; collateralized by <br> U.S. Treasury Note at 3.750%, maturing 04/30/27, with a <br> market value of $683,461<br>| 670022 | &nbsp;&nbsp;&nbsp; 670022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $670,022) <br>|  | &nbsp;&nbsp;&nbsp; 670022 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—1.1%** | **Securities Lending Reinvestments (c)—1.1%** | **Securities Lending Reinvestments (c)—1.1%** |
| **Short-Term Investment Funds—0.0%** | **Short-Term Investment Funds—0.0%** | **Short-Term Investment Funds—0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (d)<br>| 200000 | &nbsp;&nbsp;&nbsp; 200000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements—1.1%** | **Repurchase Agreements—1.1%** | **Repurchase Agreements—1.1%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $1,000,117; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $2,047,836; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,200,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

**BHFTI-157**

------

**Brighthouse Funds Trust I**

**Invesco Small Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $300,035; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $306,000<br>| 300000 | &nbsp;&nbsp;&nbsp; $300000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $271,117; collateralized by <br> U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $276,507<br>| 271085 | &nbsp;&nbsp;&nbsp; 271085 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $1,000,119; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,115,094<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $1,000,836; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $1,112,188<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 6.750%, maturity dates ranging from 10/31/25 - 05/15/55, <br> and an aggregate market value of $2,040,238<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $300,034; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $306,000<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,500,174; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,650,192<br>| 1500000 | &nbsp;&nbsp;&nbsp; $1500000 |
|  |  | &nbsp;&nbsp;&nbsp; 9371085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $9,571,085) <br>|  | &nbsp;&nbsp;&nbsp; 9571085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—101.3% <br>(Cost $677,382,074) <br>|  | &nbsp;&nbsp;&nbsp; 860926277 |
| Other assets and liabilities (net)—(1.3)%  |  | &nbsp;&nbsp;&nbsp; (11256131)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $849670146 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $18,090,739 and the collateral received consisted of cash in the amount of $9,571,085 and non-cash collateral with a value of $9,308,711. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(d) The rate shown represents the annualized seven-day yield as of September 30, 2025.

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp; $850685170 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $850685170 |
| Total Short-Term Investments\* | &nbsp;&nbsp; — | &nbsp;&nbsp; 670022 | &nbsp;&nbsp; — | &nbsp;&nbsp; 670022 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 200000 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 9371085 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9371085 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 9371085 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9571085 |
| Total Investments | &nbsp;&nbsp; $850885170 | &nbsp;&nbsp; $10041107 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $860926277 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(9571085)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(9571085)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-158**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—28.6% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations — 4.0%** | **Agency Collateralized Mortgage Obligations — 4.0%** | **Agency Collateralized Mortgage Obligations — 4.0%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.883%, -1x SOFR30A + 6.256%, 10/15/37 (a) (b) | 1085910 | &nbsp;&nbsp;&nbsp; $98079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.913%, -1x SOFR30A + 6.286%, 11/15/36 (a) (b) | 546096 | &nbsp;&nbsp;&nbsp; 48224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/26 | 10980 | &nbsp;&nbsp;&nbsp; 10941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, SOFR30A + 0.564%, 08/15/42 (b) | 1373185 | &nbsp;&nbsp;&nbsp; 1355902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/35 | 443157 | &nbsp;&nbsp;&nbsp; 452144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.167%, SOFR30A + 0.794%, 11/15/37 (b) | 203198 | &nbsp;&nbsp;&nbsp; 203474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.837%, SOFR30A + 1.464%, 03/15/38 (b) | 600000 | &nbsp;&nbsp;&nbsp; 622131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/15/35 | 1114316 | &nbsp;&nbsp;&nbsp; 1187360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/15/36 | 847451 | &nbsp;&nbsp;&nbsp; 898569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/28 | 29719 | &nbsp;&nbsp;&nbsp; 30110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/15/37 | 203066 | &nbsp;&nbsp;&nbsp; 218428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Seasoned Credit Risk <br> Transfer Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/62 | 2793025 | &nbsp;&nbsp;&nbsp; 2348653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/25/61 | 2077740 | &nbsp;&nbsp;&nbsp; 1803401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/25/57 | 2793259 | &nbsp;&nbsp;&nbsp; 2590505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/25/57 | 2601737 | &nbsp;&nbsp;&nbsp; 2408312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/25/58 | 2517635 | &nbsp;&nbsp;&nbsp; 2257268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/25/58 | 1347565 | &nbsp;&nbsp;&nbsp; 1138234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/25/64 | 3202561 | &nbsp;&nbsp;&nbsp; 2805379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/57 | 2037112 | &nbsp;&nbsp;&nbsp; 1918468 |
| Federal Home Loan Mortgage Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 09/15/43 (c) | 284218 | &nbsp;&nbsp;&nbsp; 220497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/15/43 | 872435 | &nbsp;&nbsp;&nbsp; 806544 |
| Federal National Mortgage Association Benchmark REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/25/37 | 215742 | &nbsp;&nbsp;&nbsp; 225405 |
| Federal National Mortgage Association Grantor Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.898%, 06/25/27 | 3890000 | &nbsp;&nbsp;&nbsp; 3810506 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 09/25/43 (c) | 479975 | &nbsp;&nbsp;&nbsp; 364918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/25/43 (c) | 275544 | &nbsp;&nbsp;&nbsp; 208004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/25/43 (c) | 507123 | &nbsp;&nbsp;&nbsp; 372413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.059%, -1x SOFR30A + 6.416%, 01/25/41 (a) (b) | 1278336 | &nbsp;&nbsp;&nbsp; 150468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/25/43 | 1030747 | &nbsp;&nbsp;&nbsp; 978623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/25/57 | 1782464 | &nbsp;&nbsp;&nbsp; 1728992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.971%, SOFR30A + 0.614%, 10/25/42 (b) | 166713 | &nbsp;&nbsp;&nbsp; 164617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/25/40 | 1390846 | &nbsp;&nbsp;&nbsp; 1421063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.071%, SOFR30A + 0.714%, 10/25/43 (b) | 638865 | &nbsp;&nbsp;&nbsp; 632272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.071%, SOFR30A + 0.714%, 12/25/43 (b) | 604864 | &nbsp;&nbsp;&nbsp; 599539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.371%, SOFR30A + 1.014%, 03/25/38 (b) | 64377 | &nbsp;&nbsp;&nbsp; 64875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.471%, SOFR30A + 1.114%, 08/25/32 (b) | 152012 | &nbsp;&nbsp;&nbsp; 153489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/25/35 | 369443 | &nbsp;&nbsp;&nbsp; 381547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/25/36 | 760999 | &nbsp;&nbsp;&nbsp; 801613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/18/28 | 13335 | &nbsp;&nbsp;&nbsp; 13498 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 02/20/63 | 18679 | &nbsp;&nbsp;&nbsp; 17767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 04/20/63 | 50166 | &nbsp;&nbsp;&nbsp; 47901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 04/20/43 (b) | 802683 | &nbsp;&nbsp;&nbsp; 772621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1M TSFR + 0.614%, 09/20/37 (b) | 68089 | &nbsp;&nbsp;&nbsp; 67794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.766%, 1M TSFR + 0.414%, 08/20/60 (b) | 45 | &nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.766%, 1M TSFR + 0.414%, 11/20/62 (b) | 134 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.795%, 1M TSFR + 0.514%, 02/20/62 (b) | 19217 | &nbsp;&nbsp;&nbsp; 19030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.806%, 1M TSFR + 0.454%, 12/20/62 (b) | 217605 | &nbsp;&nbsp;&nbsp; 217027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.876%, 1M TSFR + 0.524%, 03/20/63 (b) | 48066 | &nbsp;&nbsp;&nbsp; 47996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.879%, 11/20/42 (b) | 2575991 | &nbsp;&nbsp;&nbsp; 2624014 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.886%, 1M TSFR + 0.534%, 02/20/63 (b) | 343865 | &nbsp;&nbsp;&nbsp; $343427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.936%, 1M TSFR + 0.584%, 03/20/63 (b) | 229280 | &nbsp;&nbsp;&nbsp; 229225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.936%, 1M TSFR + 0.584%, 07/20/64 (b) | 181373 | &nbsp;&nbsp;&nbsp; 181340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.936%, 1M TSFR + 0.584%, 09/20/64 (b) | 313653 | &nbsp;&nbsp;&nbsp; 313627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.946%, 1M TSFR + 0.594%, 04/20/63 (b) | 444290 | &nbsp;&nbsp;&nbsp; 444374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 01/20/63 (b) | 10382 | &nbsp;&nbsp;&nbsp; 10344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 04/20/63 (b) | 502474 | &nbsp;&nbsp;&nbsp; 502417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 06/20/64 (b) | 1400425 | &nbsp;&nbsp;&nbsp; 1400692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 07/20/64 (b) | 583001 | &nbsp;&nbsp;&nbsp; 583114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/20/33 | 282711 | &nbsp;&nbsp;&nbsp; 281908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/16/39 | 16558 | &nbsp;&nbsp;&nbsp; 16529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/20/39 | 643821 | &nbsp;&nbsp;&nbsp; 660632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/20/39 | 666678 | &nbsp;&nbsp;&nbsp; 684512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.016%, 1M TSFR + 0.664%, 04/20/62 (b) | 64 | &nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 1M TSFR + 0.714%, 04/20/64 (b) | 2403704 | &nbsp;&nbsp;&nbsp; 2407341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.084%, 06/20/40 (b) | 853437 | &nbsp;&nbsp;&nbsp; 872300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 1M TSFR + 0.764%, 07/20/63 (b) | 33707 | &nbsp;&nbsp;&nbsp; 33789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 1M TSFR + 0.764%, 01/20/64 (b) | 51323 | &nbsp;&nbsp;&nbsp; 51445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 1M TSFR + 0.764%, 02/20/64 (b) | 210330 | &nbsp;&nbsp;&nbsp; 210830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 1M TSFR + 0.764%, 03/20/64 (b) | 116915 | &nbsp;&nbsp;&nbsp; 117180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.156%, 1M TSFR + 0.804%, 02/20/64 (b) | 294863 | &nbsp;&nbsp;&nbsp; 295750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.166%, 1M TSFR + 0.814%, 09/20/63 (b) | 74395 | &nbsp;&nbsp;&nbsp; 74581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.216%, 1M TSFR + 0.864%, 09/20/63 (b) | 50751 | &nbsp;&nbsp;&nbsp; 50854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 1M TSFR + 1.114%, 12/20/66 (b) | 339213 | &nbsp;&nbsp;&nbsp; 341030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/16/33 (a) | 246833 | &nbsp;&nbsp;&nbsp; 2249 |
|  |  | &nbsp;&nbsp;&nbsp; 49418347 |
| **Agency Mortgage-Backed Securities — 24.6%** | **Agency Mortgage-Backed Securities — 24.6%** | **Agency Mortgage-Backed Securities — 24.6%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/01/50 | 8806403 | &nbsp;&nbsp;&nbsp; 7459800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/51 | 2024505 | &nbsp;&nbsp;&nbsp; 1728971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/52 | 3729534 | &nbsp;&nbsp;&nbsp; 3179522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/50 | 3085062 | &nbsp;&nbsp;&nbsp; 2812909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/52 | 2531449 | &nbsp;&nbsp;&nbsp; 2224605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/32 | 214196 | &nbsp;&nbsp;&nbsp; 210640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/32 | 692771 | &nbsp;&nbsp;&nbsp; 677608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/33 | 1111428 | &nbsp;&nbsp;&nbsp; 1084657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/33 | 1169652 | &nbsp;&nbsp;&nbsp; 1141865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/33 | 1874421 | &nbsp;&nbsp;&nbsp; 1834442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/33 | 409127 | &nbsp;&nbsp;&nbsp; 398797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/43 | 661979 | &nbsp;&nbsp;&nbsp; 625585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 06/01/34 | 3235387 | &nbsp;&nbsp;&nbsp; 3063862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/01/32 | 3500000 | &nbsp;&nbsp;&nbsp; 3371572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/32 | 153572 | &nbsp;&nbsp;&nbsp; 152140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/32 | 406116 | &nbsp;&nbsp;&nbsp; 402411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/32 | 323478 | &nbsp;&nbsp;&nbsp; 320143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/33 | 29477 | &nbsp;&nbsp;&nbsp; 29272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/33 | 83434 | &nbsp;&nbsp;&nbsp; 82632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/42 | 749178 | &nbsp;&nbsp;&nbsp; 729743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/43 | 1308594 | &nbsp;&nbsp;&nbsp; 1273668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/46 | 934286 | &nbsp;&nbsp;&nbsp; 898199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/48 | 1152592 | &nbsp;&nbsp;&nbsp; 1109391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/52 | 493399 | &nbsp;&nbsp;&nbsp; 467385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/34 | 65908 | &nbsp;&nbsp;&nbsp; 66402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/39 | 430577 | &nbsp;&nbsp;&nbsp; 441478 |

---

**BHFTI-159**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/54 | 1060297 | &nbsp;&nbsp;&nbsp; $1086602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 1Y RFUCCT + 1.852%, 07/01/40 (b) | 184800 | &nbsp;&nbsp;&nbsp; 191202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Credit Risk<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.606%, SOFR30A + 4.250%, 05/25/52 (144A) (b) | 1293250 | &nbsp;&nbsp;&nbsp; 1326276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.920%, 06/25/32 | 3100000 | &nbsp;&nbsp;&nbsp; 2861703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.336%, 04/25/28 (b) | 1790000 | &nbsp;&nbsp;&nbsp; 1761170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.690%, 01/25/29 | 397000 | &nbsp;&nbsp;&nbsp; 394189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.710%, 09/25/32 (b) | 3035000 | &nbsp;&nbsp;&nbsp; 2929785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 10/25/32 (b) | 2100000 | &nbsp;&nbsp;&nbsp; 2036597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 08/25/28 (b) | 3170000 | &nbsp;&nbsp;&nbsp; 3167132 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.508%, 11/01/32 (b) | 8186275 | &nbsp;&nbsp;&nbsp; 6858997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.755%, 03/01/32 (b) | 5026560 | &nbsp;&nbsp;&nbsp; 4366881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/01/33 | 3484000 | &nbsp;&nbsp;&nbsp; 2914209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.930%, 11/01/31 | 4300000 | &nbsp;&nbsp;&nbsp; 3770166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/51 | 3968992 | &nbsp;&nbsp;&nbsp; 3210499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.010%, 01/01/32 | 4050000 | &nbsp;&nbsp;&nbsp; 3564749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.440%, 06/01/30 | 2861509 | &nbsp;&nbsp;&nbsp; 2652240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/50 | 3056797 | &nbsp;&nbsp;&nbsp; 2620175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/50 | 2557547 | &nbsp;&nbsp;&nbsp; 2197966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/50 | 1891529 | &nbsp;&nbsp;&nbsp; 1629736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/51 | 3236432 | &nbsp;&nbsp;&nbsp; 2754147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/51 | 3183269 | &nbsp;&nbsp;&nbsp; 2683278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/51 | 6014157 | &nbsp;&nbsp;&nbsp; 5109703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/52 | 2474519 | &nbsp;&nbsp;&nbsp; 2112656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/52 | 3334808 | &nbsp;&nbsp;&nbsp; 2848559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/52 | 3372896 | &nbsp;&nbsp;&nbsp; 2897197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/52 | 4092127 | &nbsp;&nbsp;&nbsp; 3507750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/52 | 4618930 | &nbsp;&nbsp;&nbsp; 3905333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/62 | 2296077 | &nbsp;&nbsp;&nbsp; 1872457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.510%, 10/01/30 | 3150000 | &nbsp;&nbsp;&nbsp; 2912976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.730%, 07/01/28 | 2704025 | &nbsp;&nbsp;&nbsp; 2609387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.810%, 09/01/31 | 1318846 | &nbsp;&nbsp;&nbsp; 1230912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.970%, 06/01/30 | 2738616 | &nbsp;&nbsp;&nbsp; 2607913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.980%, 09/01/36 | 1076650 | &nbsp;&nbsp;&nbsp; 1009105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/43 | 1305569 | &nbsp;&nbsp;&nbsp; 1199303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/52 | 2401282 | &nbsp;&nbsp;&nbsp; 2110738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/52 | 4994887 | &nbsp;&nbsp;&nbsp; 4433787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/52 | 3539624 | &nbsp;&nbsp;&nbsp; 3116766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/60 | 2238918 | &nbsp;&nbsp;&nbsp; 1956277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/61 | 2674191 | &nbsp;&nbsp;&nbsp; 2336489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/26 | 12640 | &nbsp;&nbsp;&nbsp; 12565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/33 | 728791 | &nbsp;&nbsp;&nbsp; 714034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/33 | 958617 | &nbsp;&nbsp;&nbsp; 937369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/42 | 678799 | &nbsp;&nbsp;&nbsp; 642807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/42 | 210653 | &nbsp;&nbsp;&nbsp; 201704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/43 | 844117 | &nbsp;&nbsp;&nbsp; 794647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/50 | 2524669 | &nbsp;&nbsp;&nbsp; 2341787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/50 | 1853990 | &nbsp;&nbsp;&nbsp; 1711927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/51 | 1316904 | &nbsp;&nbsp;&nbsp; 1213398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/52 | 3831389 | &nbsp;&nbsp;&nbsp; 3507306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/60 | 1742219 | &nbsp;&nbsp;&nbsp; 1579471 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/61 | 1230286 | &nbsp;&nbsp;&nbsp; $1104510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/62 | 2739223 | &nbsp;&nbsp;&nbsp; 2459246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.540%, 06/01/32 | 4357000 | &nbsp;&nbsp;&nbsp; 4156076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 02/01/30 | 1500000 | &nbsp;&nbsp;&nbsp; 1468427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.730%, 10/01/32 | 2463120 | &nbsp;&nbsp;&nbsp; 2374513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 09/01/32 | 3411180 | &nbsp;&nbsp;&nbsp; 3303443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.805%, 11/01/32 | 2025000 | &nbsp;&nbsp;&nbsp; 1962593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.895%, 02/01/33 | 3450000 | &nbsp;&nbsp;&nbsp; 3339970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.970%, 08/01/33 | 4649464 | &nbsp;&nbsp;&nbsp; 4472784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/31 | 218058 | &nbsp;&nbsp;&nbsp; 216893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/32 | 136161 | &nbsp;&nbsp;&nbsp; 134635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/40 | 63453 | &nbsp;&nbsp;&nbsp; 61557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/42 | 430347 | &nbsp;&nbsp;&nbsp; 419611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/47 | 421422 | &nbsp;&nbsp;&nbsp; 405554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/52 | 4513435 | &nbsp;&nbsp;&nbsp; 4264332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/52 | 7180174 | &nbsp;&nbsp;&nbsp; 6786118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.170%, 05/01/33 | 3000000 | &nbsp;&nbsp;&nbsp; 2955303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.185%, 04/01/33 | 3000000 | &nbsp;&nbsp;&nbsp; 2954791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.190%, 04/01/33 | 2000000 | &nbsp;&nbsp;&nbsp; 1969598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.330%, 01/01/33 | 2700000 | &nbsp;&nbsp;&nbsp; 2693658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/40 | 133019 | &nbsp;&nbsp;&nbsp; 133545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/62 | 1785224 | &nbsp;&nbsp;&nbsp; 1731485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.520%, 06/01/33 | 1577778 | &nbsp;&nbsp;&nbsp; 1591872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.520%, 10/01/33 | 1300000 | &nbsp;&nbsp;&nbsp; 1310081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 09/01/33 | 3090744 | &nbsp;&nbsp;&nbsp; 3121679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.590%, 04/01/33 | 3350000 | &nbsp;&nbsp;&nbsp; 3375614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.735%, 02/01/33 | 3100000 | &nbsp;&nbsp;&nbsp; 3150656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/35 | 239316 | &nbsp;&nbsp;&nbsp; 239676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/53 | 3760294 | &nbsp;&nbsp;&nbsp; 3739612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, 02/01/32 | 3145000 | &nbsp;&nbsp;&nbsp; 3252078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.290%, 12/01/32 | 2479061 | &nbsp;&nbsp;&nbsp; 2589853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/58 | 1595933 | &nbsp;&nbsp;&nbsp; 1659633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/28 | 25951 | &nbsp;&nbsp;&nbsp; 26501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/39 | 94464 | &nbsp;&nbsp;&nbsp; 99545 |
| Federal National Mortgage Association-ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 10/25/30 | 831407 | &nbsp;&nbsp;&nbsp; 794542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.764%, 11/25/31 (b) | 7400000 | &nbsp;&nbsp;&nbsp; 6370542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.924%, 10/25/30 (a) (b) | 13112337 | &nbsp;&nbsp;&nbsp; 496680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.992%, 01/25/32 (b) | 5000000 | &nbsp;&nbsp;&nbsp; 4370604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.011%, 11/25/33 (a) (b) | 6384048 | &nbsp;&nbsp;&nbsp; 408736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.488%, 05/25/26 | 914833 | &nbsp;&nbsp;&nbsp; 904308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.556%, 12/25/26 (b) | 563954 | &nbsp;&nbsp;&nbsp; 553734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.061%, 05/25/27 (b) | 2106279 | &nbsp;&nbsp;&nbsp; 2075622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.109%, 04/25/29 (b) | 1321127 | &nbsp;&nbsp;&nbsp; 1282951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.159%, 03/25/28 (b) | 1480886 | &nbsp;&nbsp;&nbsp; 1453087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.160%, 02/25/30 (b) | 864514 | &nbsp;&nbsp;&nbsp; 831801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.163%, 06/25/27 (b) | 1878522 | &nbsp;&nbsp;&nbsp; 1848136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.466%, 07/25/28 (b) | 3635258 | &nbsp;&nbsp;&nbsp; 3584549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.884%, 08/25/32 (b) | 2600000 | &nbsp;&nbsp;&nbsp; 2505063 |
| FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.686%, 11/25/49 (144A) (b) | 1700000 | &nbsp;&nbsp;&nbsp; 1680021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.786%, 04/25/28 (144A) (b) | 3100000 | &nbsp;&nbsp;&nbsp; 2952958 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/20/51 | 2149666 | &nbsp;&nbsp;&nbsp; 1852216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/20/51 | 1441548 | &nbsp;&nbsp;&nbsp; 1287467 |

---

**BHFTI-160**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/20/51 | 2206320 | &nbsp;&nbsp;&nbsp; $1985509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/20/52 | 2535322 | &nbsp;&nbsp;&nbsp; 2325388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/20/52 | 2553330 | &nbsp;&nbsp;&nbsp; 2411573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/20/52 | 3082623 | &nbsp;&nbsp;&nbsp; 2899771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/20/52 | 5602555 | &nbsp;&nbsp;&nbsp; 5320892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/20/49 | 1501279 | &nbsp;&nbsp;&nbsp; 1456412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/20/52 | 2679395 | &nbsp;&nbsp;&nbsp; 2644344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/20/53 | 2488537 | &nbsp;&nbsp;&nbsp; 2523961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 04/20/41 (b) | 91608 | &nbsp;&nbsp;&nbsp; 93410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.694%, 1Y H15 + 1.709%, 03/20/72 (b) | 3005237 | &nbsp;&nbsp;&nbsp; 3145929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.733%, 1Y H15 + 1.747%, 11/20/71 (b) | 3480412 | &nbsp;&nbsp;&nbsp; 3640966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.736%, 1Y H15 + 1.747%, 10/20/71 (b) | 3260386 | &nbsp;&nbsp;&nbsp; 3404432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.736%, 1Y H15 + 1.738%, 04/20/72 (b) | 2800297 | &nbsp;&nbsp;&nbsp; 2928977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.755%, 1Y H15 + 1.777%, 12/20/71 (b) | 3021926 | &nbsp;&nbsp;&nbsp; 3165553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.791%, 1Y H15 + 1.783%, 09/20/71 (b) | 2966069 | &nbsp;&nbsp;&nbsp; 3108082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.792%, 1Y H15 + 1.822%, 08/20/71 (b) | 2908051 | &nbsp;&nbsp;&nbsp; 3050830 |
|  |  | &nbsp;&nbsp;&nbsp; 305084209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $369,508,102) <br>|  | &nbsp;&nbsp;&nbsp; 354502556 |
| **U.S. Treasury & Government Agencies—28.1%** | **U.S. Treasury & Government Agencies—28.1%** | **U.S. Treasury & Government Agencies—28.1%** |
| **Federal Agencies — 0.2%** | **Federal Agencies — 0.2%** | **Federal Agencies — 0.2%** |
| Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.880%, 04/01/36 | 1600000 | &nbsp;&nbsp;&nbsp; 1790257 |
| Tennessee Valley Authority Generic STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/15/32 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 768290 |
| Tennessee Valley Authority Principal STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 06/15/35 (c) | 750000 | &nbsp;&nbsp;&nbsp; 481531 |
|  |  | &nbsp;&nbsp;&nbsp; 3040078 |
| **U.S. Treasury — 27.9%** | **U.S. Treasury — 27.9%** | **U.S. Treasury — 27.9%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 05/15/40 | 555000 | &nbsp;&nbsp;&nbsp; 353444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 05/15/50 | 528000 | &nbsp;&nbsp;&nbsp; 258988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 08/15/50 | 380000 | &nbsp;&nbsp;&nbsp; 191069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 6800000 | &nbsp;&nbsp;&nbsp; 3648625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 8840000 | &nbsp;&nbsp;&nbsp; 5000816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/15/50 | 5127000 | &nbsp;&nbsp;&nbsp; 3065986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/15/51 | 3675000 | &nbsp;&nbsp;&nbsp; 2153033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 05/15/41 | 12370000 | &nbsp;&nbsp;&nbsp; 9164914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/46 | 6537000 | &nbsp;&nbsp;&nbsp; 4361405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/49 | 170000 | &nbsp;&nbsp;&nbsp; 108508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/15/52 | 10400000 | &nbsp;&nbsp;&nbsp; 6450844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 02/15/42 | 11600000 | &nbsp;&nbsp;&nbsp; 8595781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 4475000 | &nbsp;&nbsp;&nbsp; 2927978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/15/45 | 6750000 | &nbsp;&nbsp;&nbsp; 4834951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/15/42 | 9475000 | &nbsp;&nbsp;&nbsp; 7338313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/47 | 8000000 | &nbsp;&nbsp;&nbsp; 5799375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/43 | 10415000 | &nbsp;&nbsp;&nbsp; 8159502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/49 | 27000 | &nbsp;&nbsp;&nbsp; 19697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/52 | 2280000 | &nbsp;&nbsp;&nbsp; 1626994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/44 | 238000 | &nbsp;&nbsp;&nbsp; 186207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/45 | 510000 | &nbsp;&nbsp;&nbsp; 394911 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/47 | 276000 | &nbsp;&nbsp;&nbsp; $210752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/48 | 1580000 | &nbsp;&nbsp;&nbsp; 1193147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 02/15/43 | 1160000 | &nbsp;&nbsp;&nbsp; 946805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/15/39 | 7063500 | &nbsp;&nbsp;&nbsp; 6461999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 08/15/43 | 6050000 | &nbsp;&nbsp;&nbsp; 5278625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 02/15/44 | 4325000 | &nbsp;&nbsp;&nbsp; 3754134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/15/43 | 2908000 | &nbsp;&nbsp;&nbsp; 2574829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/40 | 5950000 | &nbsp;&nbsp;&nbsp; 5546283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/43 | 435000 | &nbsp;&nbsp;&nbsp; 394813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/15/43 | 215000 | &nbsp;&nbsp;&nbsp; 194751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/42 | 4600000 | &nbsp;&nbsp;&nbsp; 4252844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/15/39 | 2850000 | &nbsp;&nbsp;&nbsp; 2805914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/38 | 720000 | &nbsp;&nbsp;&nbsp; 726103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/41 | 1200000 | &nbsp;&nbsp;&nbsp; 1179141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 7065000 | &nbsp;&nbsp;&nbsp; 6802546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/55 (d) | 185000 | &nbsp;&nbsp;&nbsp; 185578 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 08/15/30 | 1850000 | &nbsp;&nbsp;&nbsp; 1594975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 05/15/31 | 3640000 | &nbsp;&nbsp;&nbsp; 3241164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/15/32 | 49150000 | &nbsp;&nbsp;&nbsp; 43605266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/32 | 1795000 | &nbsp;&nbsp;&nbsp; 1687580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/31/30 | 9925000 | &nbsp;&nbsp;&nbsp; 9984705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/34 | 10675000 | &nbsp;&nbsp;&nbsp; 10511539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 05/31/32 | 6305000 | &nbsp;&nbsp;&nbsp; 6384798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 13705000 | &nbsp;&nbsp;&nbsp; 13859717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/35 | 89140000 | &nbsp;&nbsp;&nbsp; 92635959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 1265000 | &nbsp;&nbsp;&nbsp; 1329683 |
| U.S. Treasury STRIPS Coupon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/30 | 6300000 | &nbsp;&nbsp;&nbsp; 5337633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/15/30 | 700000 | &nbsp;&nbsp;&nbsp; 586763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/30 | 3925000 | &nbsp;&nbsp;&nbsp; 3256136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/30 (d) | 5425000 | &nbsp;&nbsp;&nbsp; 4452913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/31 | 12775000 | &nbsp;&nbsp;&nbsp; 10371705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/31 | 3000000 | &nbsp;&nbsp;&nbsp; 2355557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/32 | 12900000 | &nbsp;&nbsp;&nbsp; 10009138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/15/32 | 800000 | &nbsp;&nbsp;&nbsp; 614047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/33 | 400000 | &nbsp;&nbsp;&nbsp; 289506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/33 | 3135000 | &nbsp;&nbsp;&nbsp; 2241199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/34 | 2000000 | &nbsp;&nbsp;&nbsp; 1412083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/34 | 2600000 | &nbsp;&nbsp;&nbsp; 1789049 |
|  |  | &nbsp;&nbsp;&nbsp; 344700720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $386,233,248) <br>|  | &nbsp;&nbsp;&nbsp; 347740798 |
| **Corporate Bonds & Notes—26.6%** | **Corporate Bonds & Notes—26.6%** | **Corporate Bonds & Notes—26.6%** |
| **Aerospace/Defense — 0.6%** | **Aerospace/Defense — 0.6%** | **Aerospace/Defense — 0.6%** |
| BAE Systems PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 02/15/31 (144A) | 720000 | &nbsp;&nbsp;&nbsp; 633607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/15/50 (144A) | 332000 | &nbsp;&nbsp;&nbsp; 224672 |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.196%, 02/04/26 | 905000 | &nbsp;&nbsp;&nbsp; 898146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 05/01/26 | 360000 | &nbsp;&nbsp;&nbsp; 357591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 03/01/28 | 659000 | &nbsp;&nbsp;&nbsp; 643346 |

---

**BHFTI-161**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Aerospace/Defense—(Continued)** | **Aerospace/Defense—(Continued)** | **Aerospace/Defense—(Continued)** |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.040%, 05/01/27 | 335000 | &nbsp;&nbsp;&nbsp; $338589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/01/30 | 675000 | &nbsp;&nbsp;&nbsp; 692655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.705%, 05/01/40 | 550000 | &nbsp;&nbsp;&nbsp; 561210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.298%, 05/01/29 | 580000 | &nbsp;&nbsp;&nbsp; 615523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.388%, 05/01/31 | 330000 | &nbsp;&nbsp;&nbsp; 359408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.528%, 05/01/34 | 540000 | &nbsp;&nbsp;&nbsp; 596952 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 04/15/45 | 182000 | &nbsp;&nbsp;&nbsp; 148004 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.820%, 09/01/51 | 1260000 | &nbsp;&nbsp;&nbsp; 798444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 04/15/47 | 133000 | &nbsp;&nbsp;&nbsp; 113900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/42 | 550000 | &nbsp;&nbsp;&nbsp; 497359 |
|  |  | &nbsp;&nbsp;&nbsp; 7479406 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 02/04/32 | 485000 | &nbsp;&nbsp;&nbsp; 426931 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.540%, 08/15/47 | 363000 | &nbsp;&nbsp;&nbsp; 304390 |
| Bunge Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 09/17/34 | 730000 | &nbsp;&nbsp;&nbsp; 715618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 08/04/35 | 235000 | &nbsp;&nbsp;&nbsp; 237770 |
| Reynolds American, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/04/41 | 570000 | &nbsp;&nbsp;&nbsp; 616568 |
|  |  | &nbsp;&nbsp;&nbsp; 2301277 |
| **Airlines — 0.5%** | **Airlines — 0.5%** | **Airlines — 0.5%** |
| Air Canada Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 07/15/31 (144A) | 328499 | &nbsp;&nbsp;&nbsp; 311053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 07/15/31 (144A) | 465802 | &nbsp;&nbsp;&nbsp; 439047 |
| British Airways Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 06/15/34 (144A) | 414372 | &nbsp;&nbsp;&nbsp; 391754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 03/20/33 (144A) | 327573 | &nbsp;&nbsp;&nbsp; 320217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/20/33 (144A) | 441711 | &nbsp;&nbsp;&nbsp; 425567 |
| Delta Air Lines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/10/29 | 290227 | &nbsp;&nbsp;&nbsp; 277975 |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 04/07/30 | 601796 | &nbsp;&nbsp;&nbsp; 570623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/31 | 580331 | &nbsp;&nbsp;&nbsp; 556731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 09/01/31 | 796980 | &nbsp;&nbsp;&nbsp; 748650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/11/27 | 272727 | &nbsp;&nbsp;&nbsp; 272155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 02/25/33 | 888243 | &nbsp;&nbsp;&nbsp; 866631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 09/01/27 | 291225 | &nbsp;&nbsp;&nbsp; 289692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 08/15/38 | 713520 | &nbsp;&nbsp;&nbsp; 733942 |
|  |  | &nbsp;&nbsp;&nbsp; 6204037 |
| **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 01/10/28 (144A) | 635000 | &nbsp;&nbsp;&nbsp; 600446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/15/27 (144A) | 400000 | &nbsp;&nbsp;&nbsp; 384835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 09/26/29 (144A) (d) | 500000 | &nbsp;&nbsp;&nbsp; 500988 |
| Stellantis Finance U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.691%, 09/15/31 (144A) (d) | 606000 | &nbsp;&nbsp;&nbsp; 519697 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/24/27 (144A) | 300000 | &nbsp;&nbsp;&nbsp; $283434 |
|  |  | &nbsp;&nbsp;&nbsp; 2289400 |
| **Banks — 9.3%** | **Banks — 9.3%** | **Banks — 9.3%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.470%, 1Y H15 + 1.100%, 12/13/29 (144A) (b) | 200000 | &nbsp;&nbsp;&nbsp; 189198 |
| AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, SOFR + 1.650%, 05/15/31 (144A) (b) | 1895000 | &nbsp;&nbsp;&nbsp; 1951039 |
| Banco Nacional de Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/11/30 (144A) | 950000 | &nbsp;&nbsp;&nbsp; 832427 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.722%, 1Y H15 + 0.900%, 09/14/27 (b) | 200000 | &nbsp;&nbsp;&nbsp; 195164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 08/08/28 | 1200000 | &nbsp;&nbsp;&nbsp; 1246566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.607%, 11/07/28 | 1000000 | &nbsp;&nbsp;&nbsp; 1069191 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.898%, SOFR + 1.530%, 07/23/31 (b) | 445000 | &nbsp;&nbsp;&nbsp; 397479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.572%, SOFR + 1.210%, 10/20/32 (b) | 855000 | &nbsp;&nbsp;&nbsp; 766304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.015%, SOFR + 2.160%, 07/22/33 (b) | 1400000 | &nbsp;&nbsp;&nbsp; 1430474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.468%, SOFR + 1.650%, 01/23/35 (b) | 4415000 | &nbsp;&nbsp;&nbsp; 4610280 |
| Bank of Ireland Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.029%, 1Y H15 + 1.100%, 09/30/27 (144A) (b) | 655000 | &nbsp;&nbsp;&nbsp; 640117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.601%, SOFR + 1.620%, 03/20/30 (144A) (b) | 425000 | &nbsp;&nbsp;&nbsp; 440748 |
| Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.474%, SOFR + 1.845%, 10/25/34 (b) | 620000 | &nbsp;&nbsp;&nbsp; 691041 |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 02/01/30 (d) | 297000 | &nbsp;&nbsp;&nbsp; 304074 |
| Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.790%, 07/13/28 (144A) | 855000 | &nbsp;&nbsp;&nbsp; 890241 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.894%, 1Y H15 + 1.300%, 11/24/32 (b) | 460000 | &nbsp;&nbsp;&nbsp; 414566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.942%, SOFR + 1.560%, 09/10/30 (b) | 285000 | &nbsp;&nbsp;&nbsp; 289236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.367%, SOFR + 1.230%, 02/25/31 (b) | 435000 | &nbsp;&nbsp;&nbsp; 448551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.785%, SOFR + 1.590%, 02/25/36 (b) (d) | 415000 | &nbsp;&nbsp;&nbsp; 433100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.224%, SOFR + 2.980%, 05/09/34 (b) | 200000 | &nbsp;&nbsp;&nbsp; 215156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.496%, SOFR + 1.880%, 09/13/27 (b) | 1655000 | &nbsp;&nbsp;&nbsp; 1688528 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.132%, SOFR + 1.561%, 01/20/33 (144A) (b) | 586000 | &nbsp;&nbsp;&nbsp; 533294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.176%, SOFR + 1.520%, 01/09/30 (144A) (b) | 1305000 | &nbsp;&nbsp;&nbsp; 1338781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.283%, SOFR + 1.280%, 11/19/30 (144A) (b) | 1615000 | &nbsp;&nbsp;&nbsp; 1658866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.497%, SOFR + 1.590%, 05/20/30 (144A) (b) | 1279000 | &nbsp;&nbsp;&nbsp; 1322585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.786%, SOFR + 1.620%, 01/13/33 (144A) (b) (d) | 815000 | &nbsp;&nbsp;&nbsp; 855363 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.277%, SOFR + 1.312%, 01/20/32 (144A) (b) | 415000 | &nbsp;&nbsp;&nbsp; 365972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, SOFR + 1.581%, 05/28/31 (144A) (b) | 910000 | &nbsp;&nbsp;&nbsp; 933609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.716%, SOFR + 1.959%, 01/18/30 (144A) (b) | 370000 | &nbsp;&nbsp;&nbsp; 382635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.876%, SOFR + 1.680%, 01/14/31 (144A) (b) | 525000 | &nbsp;&nbsp;&nbsp; 548299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.936%, SOFR + 1.850%, 05/30/35 (144A) (b) | 1175000 | &nbsp;&nbsp;&nbsp; 1230762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.027%, SOFR + 1.956%, 05/28/36 (144A) (b) | 1175000 | &nbsp;&nbsp;&nbsp; 1237386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.293%, SOFR + 2.040%, 01/14/36 (144A) (b) | 685000 | &nbsp;&nbsp;&nbsp; 733054 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.581%, SOFR + 1.790%, 07/03/36 (144A) (b) | 1570000 | &nbsp;&nbsp;&nbsp; 1608040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.840%, SOFR + 2.770%, 09/13/34 (144A) (b) | 330000 | &nbsp;&nbsp;&nbsp; 367711 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.561%, SOFR + 1.167%, 05/01/32 (b) | 915000 | &nbsp;&nbsp;&nbsp; 824689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.057%, SOFR + 1.351%, 01/25/33 (b) | 677000 | &nbsp;&nbsp;&nbsp; 616328 |

---

**BHFTI-162**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 11/20/26 | 750000 | &nbsp;&nbsp;&nbsp; $751191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 09/29/27 | 1294000 | &nbsp;&nbsp;&nbsp; 1299267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.503%, SOFR + 1.171%, 09/11/31 (b) | 520000 | &nbsp;&nbsp;&nbsp; 520281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.542%, SOFR + 1.338%, 09/19/30 (b) | 988000 | &nbsp;&nbsp;&nbsp; 992598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.174%, SOFR + 1.488%, 09/11/36 (b) | 485000 | &nbsp;&nbsp;&nbsp; 489922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.449%, SOFR + 1.447%, 06/11/35 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1036978 |
| Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 07/21/26 | 513000 | &nbsp;&nbsp;&nbsp; 510632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.990%, 1Y H15 + 0.920%, 05/27/31 (144A) (b) | 850000 | &nbsp;&nbsp;&nbsp; 867952 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.818%, SOFR + 1.360%, 09/25/33 (144A) (b) | 665000 | &nbsp;&nbsp;&nbsp; 660913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.222%, SOFR + 1.460%, 05/27/31 (144A) (b) | 715000 | &nbsp;&nbsp;&nbsp; 733469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.230%, SOFR + 1.130%, 01/09/29 (144A) (b) | 713000 | &nbsp;&nbsp;&nbsp; 726678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.335%, SOFR + 1.690%, 01/10/30 (144A) (b) | 637000 | &nbsp;&nbsp;&nbsp; 655441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.862%, SOFR + 1.740%, 01/09/36 (144A) (b) | 795000 | &nbsp;&nbsp;&nbsp; 835811 |
| Danske Bank AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.613%, 1Y H15 + 1.100%, 10/02/30 (144A) (b) | 440000 | &nbsp;&nbsp;&nbsp; 442301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.019%, 1Y H15 + 0.930%, 03/04/31 (144A) (b) | 660000 | &nbsp;&nbsp;&nbsp; 672472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.705%, 1Y H15 + 1.400%, 03/01/30 (144A) (b) | 920000 | &nbsp;&nbsp;&nbsp; 957190 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.311%, SOFR + 1.219%, 11/16/27 (b) | 312000 | &nbsp;&nbsp;&nbsp; 305174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.035%, SOFR + 1.718%, 05/28/32 (b) | 1600000 | &nbsp;&nbsp;&nbsp; 1461579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, SOFR + 1.300%, 08/04/31 (b) | 240000 | &nbsp;&nbsp;&nbsp; 242270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.999%, SOFR + 1.700%, 09/11/30 (b) | 150000 | &nbsp;&nbsp;&nbsp; 152148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.297%, SOFR + 1.720%, 05/09/31 (b) | 1520000 | &nbsp;&nbsp;&nbsp; 1557032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.373%, SOFR + 1.210%, 01/10/29 (b) | 405000 | &nbsp;&nbsp;&nbsp; 413706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.403%, SOFR + 2.050%, 09/11/35 (b) (d) | 150000 | &nbsp;&nbsp;&nbsp; 152956 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.853%, SOFR + 1.050%, 11/05/30 (144A) (b) | 590000 | &nbsp;&nbsp;&nbsp; 601776 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 03/01/38 | 200000 | &nbsp;&nbsp;&nbsp; 247449 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.948%, SOFR + 0.913%, 10/21/27 (b) | 781000 | &nbsp;&nbsp;&nbsp; 762619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.992%, SOFR + 1.090%, 01/27/32 (b) | 950000 | &nbsp;&nbsp;&nbsp; 838309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.640%, SOFR + 1.114%, 02/24/28 (b) | 920000 | &nbsp;&nbsp;&nbsp; 900655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.102%, SOFR + 1.410%, 02/24/33 (b) | 1307000 | &nbsp;&nbsp;&nbsp; 1199015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.691%, 3M TSFR + 1.772%, 06/05/28 (b) | 1307000 | &nbsp;&nbsp;&nbsp; 1297600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.411%, 3M TSFR + 1.692%, 04/23/39 (b) | 445000 | &nbsp;&nbsp;&nbsp; 411556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.049%, SOFR + 1.210%, 07/23/30 (b) | 745000 | &nbsp;&nbsp;&nbsp; 763672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.218%, SOFR + 1.580%, 04/23/31 (b) | 578000 | &nbsp;&nbsp;&nbsp; 597713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, SOFR + 1.550%, 07/23/35 (b) | 1570000 | &nbsp;&nbsp;&nbsp; 1616227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.484%, SOFR + 1.770%, 10/24/29 (b) | 840000 | &nbsp;&nbsp;&nbsp; 893911 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.206%, SOFR + 1.285%, 08/17/29 (b) | 630000 | &nbsp;&nbsp;&nbsp; 594681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.357%, SOFR + 1.947%, 08/18/31 (b) | 890000 | &nbsp;&nbsp;&nbsp; 805527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.240%, SOFR + 1.570%, 05/13/31 (b) | 430000 | &nbsp;&nbsp;&nbsp; 442492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.286%, SOFR + 1.290%, 11/19/30 (b) | 525000 | &nbsp;&nbsp;&nbsp; 541539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.332%, SOFR + 2.650%, 03/09/44 (b) | 370000 | &nbsp;&nbsp;&nbsp; 406946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/15/37 | 930000 | &nbsp;&nbsp;&nbsp; 998965 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, SOFR + 1.276%, 01/15/31 (b) | 450000 | &nbsp;&nbsp;&nbsp; 463800 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.726%, SOFR + 1.005%, 04/01/27 (b) | 285000 | &nbsp;&nbsp;&nbsp; 281325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.083%, SOFR + 1.560%, 09/11/27 (b) | 240000 | &nbsp;&nbsp;&nbsp; 244099 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.454%, 1Y H15 + 0.850%, 09/23/31 (144A) (b) (d) | 1040000 | &nbsp;&nbsp;&nbsp; $1034493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.932%, 1Y H15 + 1.070%, 10/16/30 (144A) (b) | 550000 | &nbsp;&nbsp;&nbsp; 559450 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.789%, SOFR + 2.060%, 06/01/33 (b) | 170000 | &nbsp;&nbsp;&nbsp; 169425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.121%, SOFR + 1.227%, 04/04/31 (b) (d) | 670000 | &nbsp;&nbsp;&nbsp; 687951 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.462%, 1Y H15 + 1.375%, 01/05/28 (b) | 730000 | &nbsp;&nbsp;&nbsp; 740877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.679%, 1Y H15 + 1.750%, 01/05/35 (b) | 795000 | &nbsp;&nbsp;&nbsp; 833400 |
| Macquarie Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.052%, 5Y H15 + 1.700%, 03/03/36 (144A) (b) | 825000 | &nbsp;&nbsp;&nbsp; 744889 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.159%, 1Y H15 + 1.170%, 04/24/31 (b) | 200000 | &nbsp;&nbsp;&nbsp; 206082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.188%, 5Y H15 + 0.930%, 09/12/36 (b) | 485000 | &nbsp;&nbsp;&nbsp; 492814 |
| Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.869%, 3M TSFR + 1.572%, 09/13/30 (b) | 539000 | &nbsp;&nbsp;&nbsp; 510194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.711%, 1Y H15 + 0.920%, 07/08/31 (b) | 830000 | &nbsp;&nbsp;&nbsp; 839770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.323%, 1Y H15 + 1.070%, 07/08/36 (b) | 1690000 | &nbsp;&nbsp;&nbsp; 1737208 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.772%, 3M TSFR + 1.402%, 01/24/29 (b) | 278000 | &nbsp;&nbsp;&nbsp; 275590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 01/27/45 | 400000 | &nbsp;&nbsp;&nbsp; 350867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.431%, 3M TSFR + 1.890%, 01/23/30 (b) | 1157000 | &nbsp;&nbsp;&nbsp; 1162539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.457%, 3M TSFR + 1.693%, 04/22/39 (b) | 850000 | &nbsp;&nbsp;&nbsp; 802303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.042%, SOFR + 1.215%, 07/19/30 (b) | 465000 | &nbsp;&nbsp;&nbsp; 476561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.123%, SOFR + 1.730%, 02/01/29 (b) | 380000 | &nbsp;&nbsp;&nbsp; 388188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.164%, SOFR + 1.590%, 04/20/29 (b) | 1215000 | &nbsp;&nbsp;&nbsp; 1243712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, SOFR + 1.555%, 07/19/35 (b) | 625000 | &nbsp;&nbsp;&nbsp; 644905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.449%, SOFR + 1.630%, 07/20/29 (b) | 275000 | &nbsp;&nbsp;&nbsp; 284160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, SOFR + 1.730%, 01/18/35 (b) | 448000 | &nbsp;&nbsp;&nbsp; 466612 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.892%, 05/18/29 | 290000 | &nbsp;&nbsp;&nbsp; 294557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.076%, 01/27/30 | 565000 | &nbsp;&nbsp;&nbsp; 577056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.115%, 1Y H15 + 1.050%, 05/23/31 (b) | 945000 | &nbsp;&nbsp;&nbsp; 968990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.778%, 1Y H15 + 1.500%, 03/01/35 (b) | 555000 | &nbsp;&nbsp;&nbsp; 585267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.808%, 1Y H15 + 1.950%, 09/13/29 (b) | 570000 | &nbsp;&nbsp;&nbsp; 594317 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, SOFR + 1.259%, 10/21/32 (b) | 600000 | &nbsp;&nbsp;&nbsp; 608254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.899%, SOFR + 1.333%, 05/13/31 (b) | 690000 | &nbsp;&nbsp;&nbsp; 704622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.068%, SOFR + 1.933%, 01/24/34 (b) | 964000 | &nbsp;&nbsp;&nbsp; 983629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.373%, SOFR + 1.417%, 07/21/36 (b) | 90000 | &nbsp;&nbsp;&nbsp; 92616 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, SOFR + 1.080%, 10/18/30 (b) | 950000 | &nbsp;&nbsp;&nbsp; 960898 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.174%, SOFR + 2.500%, 01/09/30 (b) | 900000 | &nbsp;&nbsp;&nbsp; 937459 |
| Santander U.K. Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.673%, SOFR + 0.989%, 06/14/27 (b) | 680000 | &nbsp;&nbsp;&nbsp; 667332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.858%, SOFR + 1.554%, 09/11/30 (b) | 550000 | &nbsp;&nbsp;&nbsp; 556251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.694%, SOFR + 1.524%, 04/15/31 (b) | 505000 | &nbsp;&nbsp;&nbsp; 526860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.534%, SOFR + 2.600%, 01/10/29 (b) | 1300000 | &nbsp;&nbsp;&nbsp; 1360607 |
| Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/03/30 (144A) | 560000 | &nbsp;&nbsp;&nbsp; 561261 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.792%, 1Y H15 + 1.000%, 06/09/27 (144A) (b) | 720000 | &nbsp;&nbsp;&nbsp; 706933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.889%, 1Y H15 + 1.300%, 06/09/32 (144A) (b) | 1670000 | &nbsp;&nbsp;&nbsp; 1496678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.337%, 1Y H15 + 1.600%, 01/21/33 (144A) (b) | 1000000 | &nbsp;&nbsp;&nbsp; 909755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/19/27 (144A) | 705000 | &nbsp;&nbsp;&nbsp; 712624 |

---

**BHFTI-163**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.512%, SOFR + 1.650%, 05/22/31 (144A) (b) | 2404000 | &nbsp;&nbsp;&nbsp; $2472894 |
| Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.005%, 1Y H15 + 1.150%, 10/15/30 (144A) (b) | 355000 | &nbsp;&nbsp;&nbsp; 361246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.688%, 1Y H15 + 1.050%, 05/14/28 (144A) (b) (d) | 354000 | &nbsp;&nbsp;&nbsp; 361352 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.040%, 07/16/29 | 1020000 | &nbsp;&nbsp;&nbsp; 975207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.240%, 04/15/30 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1036056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.710%, 01/13/30 | 960000 | &nbsp;&nbsp;&nbsp; 1012321 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.298%, 01/30/32 | 635000 | &nbsp;&nbsp;&nbsp; 663182 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.711%, SOFR + 1.922%, 01/24/35 (b) (d) | 480000 | &nbsp;&nbsp;&nbsp; 503698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.161%, SOFR + 2.446%, 10/30/29 (b) | 1070000 | &nbsp;&nbsp;&nbsp; 1158918 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.083%, SOFR + 1.296%, 05/15/31 (b) | 690000 | &nbsp;&nbsp;&nbsp; 709545 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.869%, 01/12/29 (144A) (d) | 905000 | &nbsp;&nbsp;&nbsp; 897419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.398%, SOFR + 1.060%, 09/23/31 (144A) (b) | 470000 | &nbsp;&nbsp;&nbsp; 468405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, SOFR + 1.340%, 03/23/37 (144A) (b) | 1030000 | &nbsp;&nbsp;&nbsp; 1025034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.537%, SOFR + 3.920%, 08/12/33 (144A) (b) | 262000 | &nbsp;&nbsp;&nbsp; 289008 |
| UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.982%, 1Y H15 + 1.200%, 06/03/27 (144A) (b) | 345000 | &nbsp;&nbsp;&nbsp; 339561 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.897%, SOFR + 2.100%, 07/25/33 (b) | 377000 | &nbsp;&nbsp;&nbsp; 383005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, SOFR + 1.500%, 01/23/30 (b) | 1060000 | &nbsp;&nbsp;&nbsp; 1091692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.211%, SOFR + 1.380%, 12/03/35 (b) | 580000 | &nbsp;&nbsp;&nbsp; 592610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, SOFR + 2.020%, 04/24/34 (b) | 456000 | &nbsp;&nbsp;&nbsp; 473812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.557%, SOFR + 1.990%, 07/25/34 (b) | 425000 | &nbsp;&nbsp;&nbsp; 446420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.574%, SOFR + 1.740%, 07/25/29 (b) | 387000 | &nbsp;&nbsp;&nbsp; 401068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.605%, SOFR + 1.740%, 04/23/36 (b) | 4552000 | &nbsp;&nbsp;&nbsp; 4777102 |
|  |  | &nbsp;&nbsp;&nbsp; 114946202 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 02/01/36 | 1103000 | &nbsp;&nbsp;&nbsp; 1088995 |
| Coca-Cola Femsa SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 09/01/32 | 515000 | &nbsp;&nbsp;&nbsp; 429278 |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/48 | 180000 | &nbsp;&nbsp;&nbsp; 167534 |
| Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 07/15/46 | 249000 | &nbsp;&nbsp;&nbsp; 202854 |
|  |  | &nbsp;&nbsp;&nbsp; 1888661 |
| **Biotechnology — 0.3%** | **Biotechnology — 0.3%** | **Biotechnology — 0.3%** |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.663%, 06/15/51 | 347000 | &nbsp;&nbsp;&nbsp; 303121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 03/02/43 | 731000 | &nbsp;&nbsp;&nbsp; 740688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 03/02/53 | 865000 | &nbsp;&nbsp;&nbsp; 862788 |
| Baxalta, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/23/45 | 27000 | &nbsp;&nbsp;&nbsp; 25874 |
| Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/35 | 480000 | &nbsp;&nbsp;&nbsp; 503015 |
| Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 10/01/40 | 1760000 | &nbsp;&nbsp;&nbsp; 1292193 |
|  |  | &nbsp;&nbsp;&nbsp; 3727679 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| CRH America Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 05/09/27 (144A) | 214000 | &nbsp;&nbsp;&nbsp; $211390 |
| Masco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/30 | 164000 | &nbsp;&nbsp;&nbsp; 146618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/15/32 | 720000 | &nbsp;&nbsp;&nbsp; 790218 |
|  |  | &nbsp;&nbsp;&nbsp; 1148226 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.319%, 11/15/38 | 2025000 | &nbsp;&nbsp;&nbsp; 2074644 |
| EIDP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/15/32 | 935000 | &nbsp;&nbsp;&nbsp; 961755 |
| Nutrien Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/15/35 | 620000 | &nbsp;&nbsp;&nbsp; 574094 |
|  |  | &nbsp;&nbsp;&nbsp; 3610493 |
| **Commercial Services — 0.6%** | **Commercial Services — 0.6%** | **Commercial Services — 0.6%** |
| Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 03/25/30 (144A) | 740000 | &nbsp;&nbsp;&nbsp; 754844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 12/04/28 (144A) | 610000 | &nbsp;&nbsp;&nbsp; 646013 |
| ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/15/37 (144A) (d) | 500000 | &nbsp;&nbsp;&nbsp; 583273 |
| Ford Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.815%, 06/01/70 | 275000 | &nbsp;&nbsp;&nbsp; 158794 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 05/15/30 | 211000 | &nbsp;&nbsp;&nbsp; 195279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 11/15/31 | 404000 | &nbsp;&nbsp;&nbsp; 362281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 08/15/29 | 1437000 | &nbsp;&nbsp;&nbsp; 1364696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 08/15/29 | 272000 | &nbsp;&nbsp;&nbsp; 278161 |
| Pepperdine University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.301%, 12/01/59 | 450000 | &nbsp;&nbsp;&nbsp; 280798 |
| Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 01/15/32 | 855000 | &nbsp;&nbsp;&nbsp; 750469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/01/30 | 1110000 | &nbsp;&nbsp;&nbsp; 1036235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 08/09/35 | 620000 | &nbsp;&nbsp;&nbsp; 621593 |
| University of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.226%, 10/01/2120 | 440000 | &nbsp;&nbsp;&nbsp; 259121 |
|  |  | &nbsp;&nbsp;&nbsp; 7291557 |
| **Computers — 0.4%** | **Computers — 0.4%** | **Computers — 0.4%** |
| Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/04/31 | 585000 | &nbsp;&nbsp;&nbsp; 584127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/04/34 | 400000 | &nbsp;&nbsp;&nbsp; 394489 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 08/05/51 | 965000 | &nbsp;&nbsp;&nbsp; 615883 |
| CGI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 09/14/31 | 1184000 | &nbsp;&nbsp;&nbsp; 1040960 |
| Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 04/01/32 | 1425000 | &nbsp;&nbsp;&nbsp; 1471120 |
| Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 02/15/31 | 365000 | &nbsp;&nbsp;&nbsp; 325689 |
|  |  | &nbsp;&nbsp;&nbsp; 4432268 |

---

**BHFTI-164**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** |
| WW Grainger, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 06/15/45 | 190000 | &nbsp;&nbsp;&nbsp; $171607 |
| **Diversified Financial Services — 1.3%** | **Diversified Financial Services — 1.3%** | **Diversified Financial Services — 1.3%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/29/26 | 990000 | &nbsp;&nbsp;&nbsp; 972660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 01/30/32 | 945000 | &nbsp;&nbsp;&nbsp; 870244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/35 | 275000 | &nbsp;&nbsp;&nbsp; 271977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 01/15/27 | 990000 | &nbsp;&nbsp;&nbsp; 1011218 |
| Aircastle Ltd./Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/15/30 (144A) | 530000 | &nbsp;&nbsp;&nbsp; 540668 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.918%, SOFR + 1.220%, 07/20/33 (b) | 320000 | &nbsp;&nbsp;&nbsp; 325571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.442%, SOFR + 1.320%, 01/30/36 (b) | 635000 | &nbsp;&nbsp;&nbsp; 660448 |
| Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/10/30 (144A) | 505000 | &nbsp;&nbsp;&nbsp; 512661 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 02/21/26 (144A) | 445000 | &nbsp;&nbsp;&nbsp; 440417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.528%, 11/18/27 (144A) | 1763000 | &nbsp;&nbsp;&nbsp; 1695041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 02/15/27 (144A) | 1840000 | &nbsp;&nbsp;&nbsp; 1809439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/15/26 (144A) | 885000 | &nbsp;&nbsp;&nbsp; 883423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/26 (144A) | 540000 | &nbsp;&nbsp;&nbsp; 539637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/26 (144A) | 1140000 | &nbsp;&nbsp;&nbsp; 1141511 |
| Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 09/20/47 | 84000 | &nbsp;&nbsp;&nbsp; 73608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 03/29/29 | 485000 | &nbsp;&nbsp;&nbsp; 493056 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.878%, SOFR + 0.855%, 11/02/27 (b) | 324000 | &nbsp;&nbsp;&nbsp; 315696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.618%, SOFR + 1.265%, 11/02/32 (b) | 735000 | &nbsp;&nbsp;&nbsp; 653085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.312%, SOFR + 2.640%, 06/08/29 (b) | 570000 | &nbsp;&nbsp;&nbsp; 597937 |
| Macquarie Airfinance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 03/17/30 (144A) | 895000 | &nbsp;&nbsp;&nbsp; 907512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 03/27/28 (144A) | 840000 | &nbsp;&nbsp;&nbsp; 854313 |
| Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 02/15/34 | 262000 | &nbsp;&nbsp;&nbsp; 275097 |
| Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.679%, 07/16/30 | 540000 | &nbsp;&nbsp;&nbsp; 496311 |
|  |  | &nbsp;&nbsp;&nbsp; 16341530 |
| **Electric — 3.3%** | **Electric — 3.3%** | **Electric — 3.3%** |
| AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 09/15/49 | 225000 | &nbsp;&nbsp;&nbsp; 154291 |
| AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/15/32 | 725000 | &nbsp;&nbsp;&nbsp; 750439 |
| Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 06/15/33 | 1510000 | &nbsp;&nbsp;&nbsp; 1511792 |
| Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 04/01/36 | 325000 | &nbsp;&nbsp;&nbsp; 353634 |
| Cleveland Electric Illuminating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 11/15/30 (144A) | 250000 | &nbsp;&nbsp;&nbsp; 247507 |
| Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/01/41 | 1260000 | &nbsp;&nbsp;&nbsp; 1293358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/01/33 | 174000 | &nbsp;&nbsp;&nbsp; 185881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/39 | 160000 | &nbsp;&nbsp;&nbsp; 173804 |
| Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 08/31/64 | 191000 | &nbsp;&nbsp;&nbsp; 150518 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Delmarva Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 05/15/45 | 500000 | &nbsp;&nbsp;&nbsp; $423872 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 08/15/26 (d) | 183000 | &nbsp;&nbsp;&nbsp; 181076 |
| DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 10/01/37 | 300000 | &nbsp;&nbsp;&nbsp; 319291 |
| DTE Electric Securitization Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.090%, 09/01/38 | 600000 | &nbsp;&nbsp;&nbsp; 648874 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 09/15/55 | 440000 | &nbsp;&nbsp;&nbsp; 438401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 09/15/53 (d) | 660000 | &nbsp;&nbsp;&nbsp; 694694 |
| Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/15/46 | 350000 | &nbsp;&nbsp;&nbsp; 276103 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 08/15/51 | 470000 | &nbsp;&nbsp;&nbsp; 301043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 03/15/43 | 200000 | &nbsp;&nbsp;&nbsp; 170498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/30/44 | 247000 | &nbsp;&nbsp;&nbsp; 214955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 04/01/35 | 360000 | &nbsp;&nbsp;&nbsp; 377591 |
| Duquesne Light Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.532%, 10/01/30 (144A) | 450000 | &nbsp;&nbsp;&nbsp; 404449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.775%, 01/07/32 (144A) | 280000 | &nbsp;&nbsp;&nbsp; 248029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.616%, 08/01/27 (144A) | 1050000 | &nbsp;&nbsp;&nbsp; 1028495 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/22/34 (144A) (d) | 580000 | &nbsp;&nbsp;&nbsp; 616917 |
| Emera U.S. Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/46 | 500000 | &nbsp;&nbsp;&nbsp; 431432 |
| Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/06/28 (144A) | 465000 | &nbsp;&nbsp;&nbsp; 456523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/30/35 (144A) | 530000 | &nbsp;&nbsp;&nbsp; 522271 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 06/15/51 | 285000 | &nbsp;&nbsp;&nbsp; 172340 |
| Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 09/01/26 (d) | 194000 | &nbsp;&nbsp;&nbsp; 191928 |
| Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 03/15/51 | 390000 | &nbsp;&nbsp;&nbsp; 250247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 06/01/31 | 195000 | &nbsp;&nbsp;&nbsp; 182894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/15/55 | 525000 | &nbsp;&nbsp;&nbsp; 537526 |
| Entergy Mississippi LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 06/01/54 | 320000 | &nbsp;&nbsp;&nbsp; 327591 |
| Fells Point Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.046%, 01/31/27 (144A) | 1895000 | &nbsp;&nbsp;&nbsp; 1864298 |
| FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 03/15/28 (144A) | 113000 | &nbsp;&nbsp;&nbsp; 110274 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/01/34 (d) | 1250000 | &nbsp;&nbsp;&nbsp; 1333965 |
| Fortis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.055%, 10/04/26 | 636000 | &nbsp;&nbsp;&nbsp; 628681 |
| ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 05/14/30 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 309271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 07/01/43 | 360000 | &nbsp;&nbsp;&nbsp; 345242 |
| Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 01/15/35 | 220000 | &nbsp;&nbsp;&nbsp; 222965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 06/01/37 | 200000 | &nbsp;&nbsp;&nbsp; 217010 |
| Massachusetts Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.004%, 08/15/46 (144A) | 402000 | &nbsp;&nbsp;&nbsp; 324801 |

---

**BHFTI-165**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Nevada Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 09/15/40 | 223000 | &nbsp;&nbsp;&nbsp; $225810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 04/01/36 | 360000 | &nbsp;&nbsp;&nbsp; 403886 |
| New England Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/05/47 (144A) | 280000 | &nbsp;&nbsp;&nbsp; 219727 |
| New York State Electric & Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 12/01/26 (144A) | 434000 | &nbsp;&nbsp;&nbsp; 428649 |
| Niagara Mohawk Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.960%, 06/27/30 (144A) | 700000 | &nbsp;&nbsp;&nbsp; 630086 |
| Northern States Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/01/28 | 628000 | &nbsp;&nbsp;&nbsp; 659010 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/02/25 (144A) (d) | 560000 | &nbsp;&nbsp;&nbsp; 557043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 12/02/27 (144A) | 625000 | &nbsp;&nbsp;&nbsp; 599122 |
| Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/01/51 | 635000 | &nbsp;&nbsp;&nbsp; 395118 |
| Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 09/15/49 | 670000 | &nbsp;&nbsp;&nbsp; 453415 |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/15/42 | 245000 | &nbsp;&nbsp;&nbsp; 186421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 03/15/45 | 420000 | &nbsp;&nbsp;&nbsp; 336961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 05/15/34 | 1168000 | &nbsp;&nbsp;&nbsp; 1210239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 10/01/54 | 55000 | &nbsp;&nbsp;&nbsp; 53576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/35 | 1665000 | &nbsp;&nbsp;&nbsp; 1742553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 06/15/33 | 755000 | &nbsp;&nbsp;&nbsp; 811583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/53 | 40000 | &nbsp;&nbsp;&nbsp; 43098 |
| PG&E Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.231%, 06/01/42 | 495000 | &nbsp;&nbsp;&nbsp; 506272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.529%, 06/01/51 | 590000 | &nbsp;&nbsp;&nbsp; 584721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.536%, 07/15/49 | 630000 | &nbsp;&nbsp;&nbsp; 636068 |
| PG&E Wildfire Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.263%, 06/01/38 | 465000 | &nbsp;&nbsp;&nbsp; 443813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.099%, 06/01/54 | 675000 | &nbsp;&nbsp;&nbsp; 640244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.212%, 12/01/49 | 360000 | &nbsp;&nbsp;&nbsp; 348021 |
| Progress Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/30/31 | 200000 | &nbsp;&nbsp;&nbsp; 224947 |
| Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/37 | 600000 | &nbsp;&nbsp;&nbsp; 668201 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.379%, 06/15/28 | 853000 | &nbsp;&nbsp;&nbsp; 809912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.725%, 03/15/35 | 275000 | &nbsp;&nbsp;&nbsp; 283779 |
| San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 08/15/51 | 635000 | &nbsp;&nbsp;&nbsp; 414038 |
| SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.697%, 06/15/42 | 585786 | &nbsp;&nbsp;&nbsp; 577322 |
| Sigeco Securitization I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.026%, 11/15/38 | 549210 | &nbsp;&nbsp;&nbsp; 563872 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 03/01/28 | 500000 | &nbsp;&nbsp;&nbsp; 491346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 01/15/36 | 500000 | &nbsp;&nbsp;&nbsp; 501722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/53 | 713000 | &nbsp;&nbsp;&nbsp; 688600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 03/01/55 | 185000 | &nbsp;&nbsp;&nbsp; 179534 |
| Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 06/15/33 | 712000 | &nbsp;&nbsp;&nbsp; 731975 |
| Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 09/15/41 | 400000 | &nbsp;&nbsp;&nbsp; 383966 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Southwestern Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/41 | 250000 | &nbsp;&nbsp;&nbsp; $224697 |
| Tampa Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 06/15/49 | 500000 | &nbsp;&nbsp;&nbsp; 423430 |
| Toledo Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 05/15/37 | 400000 | &nbsp;&nbsp;&nbsp; 434327 |
| Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 02/15/44 | 126000 | &nbsp;&nbsp;&nbsp; 110348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/37 | 685000 | &nbsp;&nbsp;&nbsp; 736146 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 12/30/34 (144A) | 230000 | &nbsp;&nbsp;&nbsp; 238009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/34 (144A) | 90000 | &nbsp;&nbsp;&nbsp; 94888 |
|  |  | &nbsp;&nbsp;&nbsp; 40491266 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/54 | 690000 | &nbsp;&nbsp;&nbsp; 664137 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| Bimbo Bakeries USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/09/36 (144A) (d) | 200000 | &nbsp;&nbsp;&nbsp; 202994 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/01/31 | 760000 | &nbsp;&nbsp;&nbsp; 717969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/34 | 845000 | &nbsp;&nbsp;&nbsp; 934150 |
| &nbsp;&nbsp;&nbsp;&nbsp; JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, <br> Inc./JBS USA Food Co.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/36 (144A) | 810000 | &nbsp;&nbsp;&nbsp; 827180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/15/66 (144A) | 905000 | &nbsp;&nbsp;&nbsp; 930376 |
| JBS USA Lux SARL/JBS USA Food Co./JBS USA Foods Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/20/35 (144A) | 135000 | &nbsp;&nbsp;&nbsp; 141818 |
| Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/34 | 270000 | &nbsp;&nbsp;&nbsp; 272292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/15/54 (d) | 210000 | &nbsp;&nbsp;&nbsp; 204679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 09/15/29 | 610000 | &nbsp;&nbsp;&nbsp; 689077 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 05/01/45 (144A) | 1055000 | &nbsp;&nbsp;&nbsp; 1070220 |
| Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/15/34 (d) | 520000 | &nbsp;&nbsp;&nbsp; 547943 |
|  |  | &nbsp;&nbsp;&nbsp; 6538698 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| APA Infrastructure Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/16/34 (144A) (d) | 1041000 | &nbsp;&nbsp;&nbsp; 1055040 |
| Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 01/15/43 | 460000 | &nbsp;&nbsp;&nbsp; 394124 |
| Brooklyn Union Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.273%, 03/15/48 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 402126 |
| KeySpan Gas East Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.742%, 08/15/26 (144A) | 345000 | &nbsp;&nbsp;&nbsp; 340521 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 02/15/31 | 570000 | &nbsp;&nbsp;&nbsp; 495017 |
| Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 02/01/30 | 829000 | &nbsp;&nbsp;&nbsp; 773761 |
| Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 10/01/46 | 212000 | &nbsp;&nbsp;&nbsp; 167727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 06/01/43 | 375000 | &nbsp;&nbsp;&nbsp; 322266 |

---

**BHFTI-166**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Gas—(Continued)** | **Gas—(Continued)** | **Gas—(Continued)** |
| Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/34 | 1000000 | &nbsp;&nbsp;&nbsp; $1071341 |
| Southwest Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 09/29/46 | 332000 | &nbsp;&nbsp;&nbsp; 254814 |
|  |  | &nbsp;&nbsp;&nbsp; 5276737 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 03/23/34 | 821000 | &nbsp;&nbsp;&nbsp; 854767 |
| **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** |
| Aetna, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 06/15/36 | 297000 | &nbsp;&nbsp;&nbsp; 326548 |
| Children's Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.928%, 07/15/50 | 540000 | &nbsp;&nbsp;&nbsp; 349085 |
| Children's Hospital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.585%, 02/01/50 | 430000 | &nbsp;&nbsp;&nbsp; 265486 |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 07/15/46 | 156000 | &nbsp;&nbsp;&nbsp; 139743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/15/36 | 1155000 | &nbsp;&nbsp;&nbsp; 1169719 |
| CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.547%, 10/01/25 | 435000 | &nbsp;&nbsp;&nbsp; 435000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.782%, 10/01/30 | 430000 | &nbsp;&nbsp;&nbsp; 397396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.910%, 10/01/50 | 425000 | &nbsp;&nbsp;&nbsp; 318628 |
| Cottage Health Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.304%, 11/01/49 | 500000 | &nbsp;&nbsp;&nbsp; 353953 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 08/15/44 | 324000 | &nbsp;&nbsp;&nbsp; 287370 |
| Hackensack Meridian Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.675%, 09/01/41 | 1180000 | &nbsp;&nbsp;&nbsp; 840655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 09/01/50 | 700000 | &nbsp;&nbsp;&nbsp; 452216 |
| Hartford HealthCare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.447%, 07/01/54 | 1100000 | &nbsp;&nbsp;&nbsp; 804413 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/15/51 | 397000 | &nbsp;&nbsp;&nbsp; 271594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/32 | 242000 | &nbsp;&nbsp;&nbsp; 227033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/15/39 | 565000 | &nbsp;&nbsp;&nbsp; 544413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 09/15/34 | 515000 | &nbsp;&nbsp;&nbsp; 528282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/47 | 445000 | &nbsp;&nbsp;&nbsp; 424512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/01/35 | 578000 | &nbsp;&nbsp;&nbsp; 604284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 09/15/54 | 300000 | &nbsp;&nbsp;&nbsp; 299342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 04/01/64 | 640000 | &nbsp;&nbsp;&nbsp; 642580 |
| Memorial Health Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.447%, 11/01/49 | 995000 | &nbsp;&nbsp;&nbsp; 715846 |
| MyMichigan Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.409%, 06/01/50 | 245000 | &nbsp;&nbsp;&nbsp; 173936 |
| Nationwide Children's Hospital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.556%, 11/01/52 | 181000 | &nbsp;&nbsp;&nbsp; 157144 |
| NYU Langone Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.380%, 07/01/55 | 410000 | &nbsp;&nbsp;&nbsp; 284461 |
| Piedmont Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.864%, 01/01/52 | 620000 | &nbsp;&nbsp;&nbsp; 394161 |
| Texas Health Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.328%, 11/15/50 | 340000 | &nbsp;&nbsp;&nbsp; 194182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.330%, 11/15/55 | 250000 | &nbsp;&nbsp;&nbsp; 208970 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/15/51 | 900000 | &nbsp;&nbsp;&nbsp; $613764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/53 | 405000 | &nbsp;&nbsp;&nbsp; 416375 |
| Yale-New Haven Health Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.496%, 07/01/50 | 580000 | &nbsp;&nbsp;&nbsp; 342524 |
|  |  | &nbsp;&nbsp;&nbsp; 13183615 |
| **Insurance — 0.3%** | **Insurance — 0.3%** | **Insurance — 0.3%** |
| AIG SunAmerica Global Financing X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 03/15/32 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 558049 |
| Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 03/01/34 | 1000000 | &nbsp;&nbsp;&nbsp; 1041704 |
| Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 03/15/52 | 620000 | &nbsp;&nbsp;&nbsp; 486381 |
| Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 04/05/29 | 390000 | &nbsp;&nbsp;&nbsp; 384005 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/04/29 | 330000 | &nbsp;&nbsp;&nbsp; 344061 |
| Guardian Life Insurance Co. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 01/24/77 (144A) | 156000 | &nbsp;&nbsp;&nbsp; 131361 |
| Hartford Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 04/15/43 | 400000 | &nbsp;&nbsp;&nbsp; 347670 |
| New York Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 05/15/69 (144A) | 625000 | &nbsp;&nbsp;&nbsp; 496560 |
| Pacific Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 10/24/67 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 160441 |
|  |  | &nbsp;&nbsp;&nbsp; 3950232 |
| **Internet — 0.4%** | **Internet — 0.4%** | **Internet — 0.4%** |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 04/13/52 (d) | 1270000 | &nbsp;&nbsp;&nbsp; 1030142 |
| Identity Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.793%, 03/20/65 | 2500000 | &nbsp;&nbsp;&nbsp; 2528250 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 08/15/54 | 365000 | &nbsp;&nbsp;&nbsp; 360613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 05/15/53 | 835000 | &nbsp;&nbsp;&nbsp; 846979 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/15/34 | 370000 | &nbsp;&nbsp;&nbsp; 370695 |
|  |  | &nbsp;&nbsp;&nbsp; 5136679 |
| **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** |
| Steel Dynamics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 10/15/27 | 630000 | &nbsp;&nbsp;&nbsp; 599165 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/42 | 775000 | &nbsp;&nbsp;&nbsp; 558191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 04/01/51 | 840000 | &nbsp;&nbsp;&nbsp; 554156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 03/01/50 | 935000 | &nbsp;&nbsp;&nbsp; 740549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.834%, 10/23/55 | 400000 | &nbsp;&nbsp;&nbsp; 407762 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.887%, 11/01/51 | 1131000 | &nbsp;&nbsp;&nbsp; 696663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.937%, 11/01/56 | 663000 | &nbsp;&nbsp;&nbsp; 393431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.987%, 11/01/63 | 42000 | &nbsp;&nbsp;&nbsp; 23983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 03/01/38 | 591000 | &nbsp;&nbsp;&nbsp; 520260 |

---

**BHFTI-167**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Media—(Continued)** | **Media—(Continued)** | **Media—(Continued)** |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 08/15/34 | 556000 | &nbsp;&nbsp;&nbsp; $530859 |
| Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 10/01/50 (144A) | 630000 | &nbsp;&nbsp;&nbsp; 367948 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/41 | 1000000 | &nbsp;&nbsp;&nbsp; 916442 |
|  |  | &nbsp;&nbsp;&nbsp; 5710244 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/05/34 (144A) (d) | 1020000 | &nbsp;&nbsp;&nbsp; 1070533 |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.440%, 01/26/36 (144A) | 528000 | &nbsp;&nbsp;&nbsp; 570696 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/30 (144A) | 1165000 | &nbsp;&nbsp;&nbsp; 1062768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.634%, 04/04/34 (144A) (d) | 610000 | &nbsp;&nbsp;&nbsp; 634859 |
|  |  | &nbsp;&nbsp;&nbsp; 3338856 |
| **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** |
| Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 11/21/44 | 333000 | &nbsp;&nbsp;&nbsp; 295608 |
| **Oil & Gas — 0.7%** | **Oil & Gas — 0.7%** | **Oil & Gas — 0.7%** |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 10/01/54 (144A) | 185000 | &nbsp;&nbsp;&nbsp; 171515 |
| BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.939%, 06/04/51 | 1260000 | &nbsp;&nbsp;&nbsp; 814201 |
| ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/55 (d) | 545000 | &nbsp;&nbsp;&nbsp; 533908 |
| Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 05/15/27 | 710000 | &nbsp;&nbsp;&nbsp; 705336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 02/15/35 | 590000 | &nbsp;&nbsp;&nbsp; 594709 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/54 | 194000 | &nbsp;&nbsp;&nbsp; 179950 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 10/01/27 | 150000 | &nbsp;&nbsp;&nbsp; 149037 |
| Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.995%, 08/16/39 | 690000 | &nbsp;&nbsp;&nbsp; 552078 |
| Jonah Energy LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.800%, 11/10/37 | 1328249 | &nbsp;&nbsp;&nbsp; 1343126 |
| Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 01/15/31 | 385000 | &nbsp;&nbsp;&nbsp; 346154 |
| Suncor Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 12/01/34 (d) | 668000 | &nbsp;&nbsp;&nbsp; 703344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 06/15/26 | 544000 | &nbsp;&nbsp;&nbsp; 557755 |
| TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.986%, 06/29/41 | 900000 | &nbsp;&nbsp;&nbsp; 682401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.127%, 05/29/50 | 870000 | &nbsp;&nbsp;&nbsp; 595629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.461%, 07/12/49 (d) | 660000 | &nbsp;&nbsp;&nbsp; 482828 |
|  |  | &nbsp;&nbsp;&nbsp; 8411971 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| Halliburton Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/01/43 | 215000 | &nbsp;&nbsp;&nbsp; 192412 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas Services—(Continued)** | **Oil & Gas Services—(Continued)** | **Oil & Gas Services—(Continued)** |
| Halliburton Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 11/15/35 (d) | 270000 | &nbsp;&nbsp;&nbsp; $265918 |
|  |  | &nbsp;&nbsp;&nbsp; 458330 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.512%, 04/15/26 (144A) | 894000 | &nbsp;&nbsp;&nbsp; 879427 |
| **Pharmaceuticals — 0.9%** | **Pharmaceuticals — 0.9%** | **Pharmaceuticals — 0.9%** |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 11/21/39 | 1682000 | &nbsp;&nbsp;&nbsp; 1505281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 11/06/42 | 600000 | &nbsp;&nbsp;&nbsp; 541115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 05/14/46 | 220000 | &nbsp;&nbsp;&nbsp; 194724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/15/34 | 1115000 | &nbsp;&nbsp;&nbsp; 1147362 |
| AstraZeneca PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 09/15/37 | 350000 | &nbsp;&nbsp;&nbsp; 398983 |
| Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.794%, 05/20/50 (d) | 103000 | &nbsp;&nbsp;&nbsp; 78868 |
| Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/15/52 | 380000 | &nbsp;&nbsp;&nbsp; 283593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/15/39 | 527000 | &nbsp;&nbsp;&nbsp; 477422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 02/20/48 | 427000 | &nbsp;&nbsp;&nbsp; 373378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 02/22/54 (d) | 61000 | &nbsp;&nbsp;&nbsp; 60796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 02/22/64 | 555000 | &nbsp;&nbsp;&nbsp; 550407 |
| Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 02/15/35 | 1110000 | &nbsp;&nbsp;&nbsp; 1133568 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 03/25/28 | 179000 | &nbsp;&nbsp;&nbsp; 179118 |
| CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.704%, 01/10/36 (144A) | 537171 | &nbsp;&nbsp;&nbsp; 514132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.773%, 01/10/33 (144A) | 471643 | &nbsp;&nbsp;&nbsp; 483239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.353%, 07/10/31 (144A) | 89763 | &nbsp;&nbsp;&nbsp; 98016 |
| Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 05/19/53 (d) | 1265000 | &nbsp;&nbsp;&nbsp; 1222479 |
| Takeda Pharmaceutical Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.025%, 07/09/40 (d) | 945000 | &nbsp;&nbsp;&nbsp; 721029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.175%, 07/09/50 | 927000 | &nbsp;&nbsp;&nbsp; 627446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 07/05/44 | 228000 | &nbsp;&nbsp;&nbsp; 233064 |
|  |  | &nbsp;&nbsp;&nbsp; 10824020 |
| **Pipelines — 1.0%** | **Pipelines — 1.0%** | **Pipelines — 1.0%** |
| Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.701%, 01/15/39 (144A) | 769000 | &nbsp;&nbsp;&nbsp; 657642 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 10/30/35 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 306484 |
| Columbia Pipelines Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.097%, 10/01/31 (144A) | 252000 | &nbsp;&nbsp;&nbsp; 255889 |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 02/15/35 (144A) | 1600000 | &nbsp;&nbsp;&nbsp; 1631370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.962%, 02/15/55 (144A) | 1085000 | &nbsp;&nbsp;&nbsp; 1076006 |
| Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 01/15/55 | 325000 | &nbsp;&nbsp;&nbsp; 340612 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/05/34 | 705000 | &nbsp;&nbsp;&nbsp; 735883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/08/33 | 680000 | &nbsp;&nbsp;&nbsp; 715603 |

---

**BHFTI-168**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pipelines—(Continued)** | **Pipelines—(Continued)** | **Pipelines—(Continued)** |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 09/15/29 | 308000 | &nbsp;&nbsp;&nbsp; $305189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 01/15/43 | 394000 | &nbsp;&nbsp;&nbsp; 349002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 04/01/44 | 200000 | &nbsp;&nbsp;&nbsp; 183184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/48 | 270000 | &nbsp;&nbsp;&nbsp; 266096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 02/15/42 | 500000 | &nbsp;&nbsp;&nbsp; 509543 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 10/15/54 | 179000 | &nbsp;&nbsp;&nbsp; 160848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 02/15/45 | 200000 | &nbsp;&nbsp;&nbsp; 189661 |
| Galaxy Pipeline Assets Bidco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.940%, 09/30/40 (144A) | 693104 | &nbsp;&nbsp;&nbsp; 588561 |
| Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 02/15/46 | 250000 | &nbsp;&nbsp;&nbsp; 226566 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 04/01/35 | 495000 | &nbsp;&nbsp;&nbsp; 499037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/34 | 560000 | &nbsp;&nbsp;&nbsp; 570691 |
| ONEOK Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 10/01/36 | 950000 | &nbsp;&nbsp;&nbsp; 1038068 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/31 | 680000 | &nbsp;&nbsp;&nbsp; 680218 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.911%, 09/01/27 | 195000 | &nbsp;&nbsp;&nbsp; 196669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.026%, 10/01/29 | 225000 | &nbsp;&nbsp;&nbsp; 227583 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/01/50 (d) | 325000 | &nbsp;&nbsp;&nbsp; 282849 |
| Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 03/15/35 | 455000 | &nbsp;&nbsp;&nbsp; 472177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/15/55 | 120000 | &nbsp;&nbsp;&nbsp; 123802 |
|  |  | &nbsp;&nbsp;&nbsp; 12589233 |
| **Real Estate Investment Trusts — 0.9%** | **Real Estate Investment Trusts — 0.9%** | **Real Estate Investment Trusts — 0.9%** |
| Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/18/32 | 710000 | &nbsp;&nbsp;&nbsp; 600154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/50 | 566000 | &nbsp;&nbsp;&nbsp; 434141 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 10/15/30 | 845000 | &nbsp;&nbsp;&nbsp; 747311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 06/15/30 | 470000 | &nbsp;&nbsp;&nbsp; 423627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 01/15/51 (d) | 255000 | &nbsp;&nbsp;&nbsp; 165207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 06/15/50 (d) | 390000 | &nbsp;&nbsp;&nbsp; 261207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 10/15/26 | 287000 | &nbsp;&nbsp;&nbsp; 284902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 10/15/49 (d) | 665000 | &nbsp;&nbsp;&nbsp; 498639 |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/01/28 | 600000 | &nbsp;&nbsp;&nbsp; 571442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/16/31 (d) | 325000 | &nbsp;&nbsp;&nbsp; 288619 |
| COPT Defense Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 04/15/31 | 1153000 | &nbsp;&nbsp;&nbsp; 1043793 |
| DOC Dr. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 11/01/31 | 405000 | &nbsp;&nbsp;&nbsp; 360907 |
| Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 03/15/32 | 565000 | &nbsp;&nbsp;&nbsp; 503557 |
| Goodman U.S. Finance Six LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/07/34 (144A) | 270000 | &nbsp;&nbsp;&nbsp; 272552 |
| Goodman U.S. Finance Three LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/15/28 (144A) | 387000 | &nbsp;&nbsp;&nbsp; 381841 |
| Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/15/29 | 600000 | &nbsp;&nbsp;&nbsp; 581601 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** |
| Safehold GL Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 06/15/31 | 2220000 | &nbsp;&nbsp;&nbsp; $2032610 |
| UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 08/01/32 | 470000 | &nbsp;&nbsp;&nbsp; 400675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/31 | 95000 | &nbsp;&nbsp;&nbsp; 87706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 01/15/30 | 625000 | &nbsp;&nbsp;&nbsp; 597587 |
| Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/15/41 | 225000 | &nbsp;&nbsp;&nbsp; 250728 |
| WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/01/33 | 845000 | &nbsp;&nbsp;&nbsp; 705398 |
|  |  | &nbsp;&nbsp;&nbsp; 11494204 |
| **Retail — 0.1%** | **Retail — 0.1%** | **Retail — 0.1%** |
| AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 01/15/31 | 530000 | &nbsp;&nbsp;&nbsp; 461479 |
| Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 04/15/52 | 705000 | &nbsp;&nbsp;&nbsp; 528177 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 03/01/47 | 180000 | &nbsp;&nbsp;&nbsp; 155819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 12/09/35 | 84000 | &nbsp;&nbsp;&nbsp; 83409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 10/15/37 | 152000 | &nbsp;&nbsp;&nbsp; 169284 |
|  |  | &nbsp;&nbsp;&nbsp; 1398168 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.537%, SOFR + 1.650%, 07/14/36 (144A) (b) | 1755000 | &nbsp;&nbsp;&nbsp; 1804798 |
| **Semiconductors — 0.7%** | **Semiconductors — 0.7%** | **Semiconductors — 0.7%** |
| Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 10/01/41 | 722000 | &nbsp;&nbsp;&nbsp; 534432 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.137%, 11/15/35 (144A) | 1685000 | &nbsp;&nbsp;&nbsp; 1457804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.187%, 11/15/36 (144A) | 465000 | &nbsp;&nbsp;&nbsp; 396821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 02/15/36 | 560000 | &nbsp;&nbsp;&nbsp; 558292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 07/12/29 | 1400000 | &nbsp;&nbsp;&nbsp; 1442120 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 08/12/51 (d) | 205000 | &nbsp;&nbsp;&nbsp; 130069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/15/49 | 205000 | &nbsp;&nbsp;&nbsp; 136220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.734%, 12/08/47 | 255000 | &nbsp;&nbsp;&nbsp; 188347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 02/10/53 | 200000 | &nbsp;&nbsp;&nbsp; 193415 |
| KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 03/01/50 | 610000 | &nbsp;&nbsp;&nbsp; 436361 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 04/15/31 | 1085000 | &nbsp;&nbsp;&nbsp; 1002047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 07/15/35 | 1367000 | &nbsp;&nbsp;&nbsp; 1409285 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/11/41 | 1115000 | &nbsp;&nbsp;&nbsp; 847137 |
| Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 05/18/63 | 311000 | &nbsp;&nbsp;&nbsp; 289015 |
|  |  | &nbsp;&nbsp;&nbsp; 9021365 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 09/10/34 | 953000 | &nbsp;&nbsp;&nbsp; 951461 |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 07/01/49 | 295000 | &nbsp;&nbsp;&nbsp; 243228 |

---

**BHFTI-169**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

**Asset-Backed Securities—11.0%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/11/35 | 340000 | &nbsp;&nbsp;&nbsp; $343617 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/01/50 | 1105000 | &nbsp;&nbsp;&nbsp; 777875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 11/15/37 | 900000 | &nbsp;&nbsp;&nbsp; 778075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 07/15/36 | 124000 | &nbsp;&nbsp;&nbsp; 110418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 05/15/35 (d) | 106000 | &nbsp;&nbsp;&nbsp; 96608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 07/08/34 | 103000 | &nbsp;&nbsp;&nbsp; 98546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/26/32 | 565000 | &nbsp;&nbsp;&nbsp; 565679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 02/06/33 | 820000 | &nbsp;&nbsp;&nbsp; 827420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/26/45 | 560000 | &nbsp;&nbsp;&nbsp; 561520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/03/55 (d) | 745000 | &nbsp;&nbsp;&nbsp; 747910 |
| Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/32 | 380000 | &nbsp;&nbsp;&nbsp; 384248 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 04/01/55 | 645000 | &nbsp;&nbsp;&nbsp; 650954 |
| VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 05/15/27 | 425000 | &nbsp;&nbsp;&nbsp; 425174 |
|  |  | &nbsp;&nbsp;&nbsp; 7562733 |
| **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 09/15/55 | 396000 | &nbsp;&nbsp;&nbsp; 272891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 06/01/51 | 2795000 | &nbsp;&nbsp;&nbsp; 2021136 |
| NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.171%, 07/16/32 (144A) | 850000 | &nbsp;&nbsp;&nbsp; 870543 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/60 | 385000 | &nbsp;&nbsp;&nbsp; 261532 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 11/20/40 | 779000 | &nbsp;&nbsp;&nbsp; 563416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 02/15/35 (d) | 346000 | &nbsp;&nbsp;&nbsp; 340364 |
| Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/10/53 | 275000 | &nbsp;&nbsp;&nbsp; 267669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 02/27/37 | 178000 | &nbsp;&nbsp;&nbsp; 193955 |
|  |  | &nbsp;&nbsp;&nbsp; 4791506 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 02/15/50 | 233000 | &nbsp;&nbsp;&nbsp; 174548 |
| Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/01/48 | 597000 | &nbsp;&nbsp;&nbsp; 532786 |
| CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/48 | 404000 | &nbsp;&nbsp;&nbsp; 365451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/36 | 300000 | &nbsp;&nbsp;&nbsp; 325445 |
| Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.942%, 11/01/47 | 219000 | &nbsp;&nbsp;&nbsp; 176799 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 09/15/67 | 200000 | &nbsp;&nbsp;&nbsp; 152196 |
|  |  | &nbsp;&nbsp;&nbsp; 1727225 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 05/01/30 | 750000 | &nbsp;&nbsp;&nbsp; 706451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $345,668,946) <br>|  | &nbsp;&nbsp;&nbsp; 329541778 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Automobile — 4.1%** | **Asset-Backed - Automobile — 4.1%** | **Asset-Backed - Automobile — 4.1%** |
| Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.360%, 06/20/30 (144A) | 1608000 | &nbsp;&nbsp;&nbsp; $1663056 |
| Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 04/16/29 | 1441000 | &nbsp;&nbsp;&nbsp; 1456154 |
| Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.920%, 07/10/29 (144A) | 1805000 | &nbsp;&nbsp;&nbsp; 1817368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.160%, 09/10/29 (144A) | 1430000 | &nbsp;&nbsp;&nbsp; 1484004 |
| Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.390%, 01/16/35 (144A) | 2720000 | &nbsp;&nbsp;&nbsp; 2748885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.130%, 12/15/33 (144A) | 2370000 | &nbsp;&nbsp;&nbsp; 2394582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.390%, 08/15/33 (144A) | 1424344 | &nbsp;&nbsp;&nbsp; 1432912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.710%, 07/17/34 (144A) | 2370000 | &nbsp;&nbsp;&nbsp; 2439020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.450%, 02/15/33 (144A) | 2600000 | &nbsp;&nbsp;&nbsp; 2621218 |
| DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.790%, 02/15/29 (144A) | 2391000 | &nbsp;&nbsp;&nbsp; 2401172 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.920%, 02/15/30 | 2540000 | &nbsp;&nbsp;&nbsp; 2595720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 12/15/28 | 2779486 | &nbsp;&nbsp;&nbsp; 2802520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.210%, 06/15/28 | 1330841 | &nbsp;&nbsp;&nbsp; 1338116 |
| FHF Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.690%, 02/15/30 (144A) | 1628469 | &nbsp;&nbsp;&nbsp; 1642517 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.960%, 12/15/27 (144A) | 2261091 | &nbsp;&nbsp;&nbsp; 2240790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.180%, 02/16/27 (144A) | 200150 | &nbsp;&nbsp;&nbsp; 199335 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.420%, 04/15/27 (144A) | 381521 | &nbsp;&nbsp;&nbsp; 379864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.480%, 07/15/27 (144A) | 1791745 | &nbsp;&nbsp;&nbsp; 1775974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.010%, 05/15/29 (144A) | 1251000 | &nbsp;&nbsp;&nbsp; 1262009 |
| Hyundai Auto Lease Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, 06/15/29 (144A) | 1515000 | &nbsp;&nbsp;&nbsp; 1525299 |
| OneMain Direct Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.070%, 02/14/33 (144A) | 1838000 | &nbsp;&nbsp;&nbsp; 1913783 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.690%, 02/18/31 | 3400000 | &nbsp;&nbsp;&nbsp; 3433201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.970%, 10/15/31 | 3040000 | &nbsp;&nbsp;&nbsp; 3117069 |
| SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 12/20/28 (144A) | 1469000 | &nbsp;&nbsp;&nbsp; 1491525 |
| Westlake Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.740%, 08/15/28 (144A) | 2105000 | &nbsp;&nbsp;&nbsp; 2118041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.640%, 11/15/28 (144A) | 1620000 | &nbsp;&nbsp;&nbsp; 1657605 |
|  |  | &nbsp;&nbsp;&nbsp; 49951739 |
| **Asset-Backed - Credit Card — 0.2%** | **Asset-Backed - Credit Card — 0.2%** | **Asset-Backed - Credit Card — 0.2%** |
| Mercury Financial Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.560%, 07/20/29 (144A) | 2455000 | &nbsp;&nbsp;&nbsp; 2474232 |
| **Asset-Backed - Other — 6.7%** | **Asset-Backed - Other — 6.7%** | **Asset-Backed - Other — 6.7%** |
| Accelerated Assets LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 10/20/40 (144A) | 529363 | &nbsp;&nbsp;&nbsp; 495514 |
| American Homes 4 Rent Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.036%, 10/17/52 (144A) | 1900000 | &nbsp;&nbsp;&nbsp; 1895631 |
| AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.327%, 10/17/38 (144A) | 1694000 | &nbsp;&nbsp;&nbsp; 1640746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.387%, 03/17/39 (144A) | 3000000 | &nbsp;&nbsp;&nbsp; 2956187 |
| Bastion Funding I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.119%, 04/25/38 (144A) | 1105784 | &nbsp;&nbsp;&nbsp; 1114667 |

---

**BHFTI-170**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| BG Beta I Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.280%, 07/16/54 | 1568000 | &nbsp;&nbsp;&nbsp; $1603764 |
| BXG Receivables Note Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.310%, 11/15/38 (144A) | 1051025 | &nbsp;&nbsp;&nbsp; 1072684 |
| Cars Net Lease Mortgage Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/15/50 (144A) | 585750 | &nbsp;&nbsp;&nbsp; 556050 |
| CFIN Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/16/26 (144A) (e) | 488984 | &nbsp;&nbsp;&nbsp; 485689 |
| COOF Securitization Trust Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.943%, 06/25/40 (144A) (a) (b) | 161849 | &nbsp;&nbsp;&nbsp; 10524 |
| CoreVest American Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.705%, 10/15/52 (144A) | 138663 | &nbsp;&nbsp;&nbsp; 138135 |
| DataBank Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.060%, 02/27/51 (144A) | 1950000 | &nbsp;&nbsp;&nbsp; 1926385 |
| Diversified ABS Phase VI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/28/39 | 979942 | &nbsp;&nbsp;&nbsp; 978472 |
| Diversified ABS Phase VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.076%, 05/30/44 (144A) | 2440695 | &nbsp;&nbsp;&nbsp; 2469214 |
| DP Lion Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.243%, 11/30/43 | 863826 | &nbsp;&nbsp;&nbsp; 887990 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.668%, 10/19/37 (144A) | 3700000 | &nbsp;&nbsp;&nbsp; 3683401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.197%, 05/19/39 (144A) | 1320000 | &nbsp;&nbsp;&nbsp; 1316251 |
| FMC GMSR Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.620%, 07/25/26 (144A) (b) | 3300000 | &nbsp;&nbsp;&nbsp; 3168284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 10/25/26 (144A) (b) | 2680000 | &nbsp;&nbsp;&nbsp; 2579693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 01/25/26 (144A) (b) | 3100000 | &nbsp;&nbsp;&nbsp; 3071071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/26/27 (144A) (b) | 3375000 | &nbsp;&nbsp;&nbsp; 3414235 |
| Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.100%, 06/15/49 (144A) | 1808377 | &nbsp;&nbsp;&nbsp; 1935686 |
| FW Energy Asset Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.151%, 08/25/44 | 1861978 | &nbsp;&nbsp;&nbsp; 1897322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.106%, 08/25/44 | 580589 | &nbsp;&nbsp;&nbsp; 593325 |
| Goodgreen Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.760%, 04/15/55 (144A) | 786065 | &nbsp;&nbsp;&nbsp; 677046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.260%, 10/15/53 (144A) | 847273 | &nbsp;&nbsp;&nbsp; 765146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.740%, 10/15/52 (144A) | 176841 | &nbsp;&nbsp;&nbsp; 163115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/20/51 | 69520 | &nbsp;&nbsp;&nbsp; 69430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 01/17/61 (144A) | 1568923 | &nbsp;&nbsp;&nbsp; 1563394 |
| Grene Energy Senior |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 01/20/27 | 114923 | &nbsp;&nbsp;&nbsp; 93834 |
| HERO Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.080%, 09/20/42 (144A) | 128029 | &nbsp;&nbsp;&nbsp; 119134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 09/20/48 (144A) | 521735 | &nbsp;&nbsp;&nbsp; 490295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, 09/20/47 (144A) | 434594 | &nbsp;&nbsp;&nbsp; 417665 |
| Invitation Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/17/41 (144A) | 1845000 | &nbsp;&nbsp;&nbsp; 1774458 |
| Jonah Energy ABS I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 12/10/37 (144A) | 829939 | &nbsp;&nbsp;&nbsp; 836213 |
| KGS-Alpha SBA COOF Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.608%, 05/25/39 (144A) (a) (b) | 734885 | &nbsp;&nbsp;&nbsp; 8032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.953%, 08/25/38 (144A) (a) (b) | 488750 | &nbsp;&nbsp;&nbsp; 8731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.712%, 03/25/39 (144A) (a) (b) | 469610 | &nbsp;&nbsp;&nbsp; 12786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.644%, 04/25/40 (144A) (a) (b) | 87043 | &nbsp;&nbsp;&nbsp; 4733 |
| LFT CRE Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.215%, 1M TSFR + 2.064%, 06/15/39 (144A) (b) | 3280000 | &nbsp;&nbsp;&nbsp; 3263784 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| MNR ABS Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.946%, 12/15/38 | 1080725 | &nbsp;&nbsp;&nbsp; $1107495 |
| NRZ Excess Spread-Collateralized Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.104%, 07/25/26 (144A) | 1524265 | &nbsp;&nbsp;&nbsp; 1499881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.474%, 11/25/26 (144A) | 717918 | &nbsp;&nbsp;&nbsp; 702392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.844%, 12/25/25 (144A) | 666559 | &nbsp;&nbsp;&nbsp; 664176 |
| OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.210%, 09/14/35 (144A) | 2145000 | &nbsp;&nbsp;&nbsp; 2053957 |
| PRET LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.487%, 10/25/51 (144A) (b) | 2984210 | &nbsp;&nbsp;&nbsp; 2984374 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.425%, 07/17/38 (144A) | 2535000 | &nbsp;&nbsp;&nbsp; 2481490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.325%, 07/17/41 (144A) | 1229000 | &nbsp;&nbsp;&nbsp; 1157576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.930%, 02/17/41 (144A) | 3150000 | &nbsp;&nbsp;&nbsp; 3024928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 04/17/39 (144A) | 2435000 | &nbsp;&nbsp;&nbsp; 2420099 |
| Reach ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.120%, 08/18/32 (144A) | 1405000 | &nbsp;&nbsp;&nbsp; 1416071 |
| Regional Management Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.040%, 03/17/31 (144A) | 3288012 | &nbsp;&nbsp;&nbsp; 3273418 |
| Renew Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.670%, 09/20/52 (144A) | 226305 | &nbsp;&nbsp;&nbsp; 211387 |
| RT Financial LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.851%, 10/15/43 | 1267474 | &nbsp;&nbsp;&nbsp; 1289519 |
| SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.560%, 04/20/32 (144A) | 1290000 | &nbsp;&nbsp;&nbsp; 1333486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.770%, 08/22/33 (144A) | 2385000 | &nbsp;&nbsp;&nbsp; 2482084 |
| VM Debt Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.460%, 07/18/27 | 3998352 | &nbsp;&nbsp;&nbsp; 3803796 |
| VOLT C LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.992%, 05/25/51 (144A) (e) | 428004 | &nbsp;&nbsp;&nbsp; 427873 |
| VOLT CI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.992%, 05/25/51 (144A) (e) | 95656 | &nbsp;&nbsp;&nbsp; 95614 |
| VOLT XCV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.240%, 03/27/51 (144A) (e) | 122967 | &nbsp;&nbsp;&nbsp; 122947 |
| VOLT XCVII LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.240%, 04/25/51 (144A) (e) | 106938 | &nbsp;&nbsp;&nbsp; 106920 |
|  |  | &nbsp;&nbsp;&nbsp; 82818199 |
| **Asset-Backed - Student Loan — 0.0%** | **Asset-Backed - Student Loan — 0.0%** | **Asset-Backed - Student Loan — 0.0%** |
| Academic Loan Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.271%, SOFR30A + 0.914%, 12/26/44 (144A) (b) | 296381 | &nbsp;&nbsp;&nbsp; 291603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $135,031,613) <br>|  | &nbsp;&nbsp;&nbsp; 135535773 |
| **Non-Agency Mortgage-Backed Securities—2.1%** | **Non-Agency Mortgage-Backed Securities—2.1%** | **Non-Agency Mortgage-Backed Securities—2.1%** |
| **Collateralized Mortgage Obligations — 1.3%** | **Collateralized Mortgage Obligations — 1.3%** | **Collateralized Mortgage Obligations — 1.3%** |
| Anchor Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.718%, 05/25/40 (144A) (e) | 1300000 | &nbsp;&nbsp;&nbsp; 1306514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.230%, 03/25/31 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2032789 |
| Global Mortgage Securitization Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 11/25/32 (144A) (b) | 31646 | &nbsp;&nbsp;&nbsp; 31246 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.769%, 05/19/34 (b) | 210992 | &nbsp;&nbsp;&nbsp; 201628 |

---

**BHFTI-171**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| Impac CMB Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, 1M TSFR + 0.854%, 11/25/34 (b) | 301958 | &nbsp;&nbsp;&nbsp; $298877 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.457%, 08/25/34 (b) | 24153 | &nbsp;&nbsp;&nbsp; 24565 |
| Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 1M TSFR + 0.574%, 04/25/29 (b) | 63791 | &nbsp;&nbsp;&nbsp; 58981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 1M TSFR + 0.614%, 05/25/29 (b) | 105477 | &nbsp;&nbsp;&nbsp; 102911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.892%, 1M TSFR + 0.734%, 10/25/28 (b) | 66112 | &nbsp;&nbsp;&nbsp; 62902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 1M TSFR + 0.754%, 10/25/28 (b) | 60002 | &nbsp;&nbsp;&nbsp; 58740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.382%, 6M TSFR + 1.108%, 01/25/29 (b) | 69088 | &nbsp;&nbsp;&nbsp; 67962 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.443%, 09/25/39 (144A) (e) | 1900000 | &nbsp;&nbsp;&nbsp; 1911344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.664%, 03/25/39 (144A) (e) | 2450000 | &nbsp;&nbsp;&nbsp; 2468492 |
| PRET Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.075%, 06/25/64 (144A) (b) | 1936297 | &nbsp;&nbsp;&nbsp; 1857000 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/53 (144A) (e) | 638075 | &nbsp;&nbsp;&nbsp; 630676 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1M TSFR + 0.714%, 12/20/34 (b) | 118150 | &nbsp;&nbsp;&nbsp; 108318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.890%, 1M TSFR + 0.754%, 01/20/34 (b) | 79333 | &nbsp;&nbsp;&nbsp; 77112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.910%, 1M TSFR + 0.774%, 07/20/33 (b) | 156002 | &nbsp;&nbsp;&nbsp; 145446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.930%, 1M TSFR + 0.794%, 10/20/34 (b) | 254722 | &nbsp;&nbsp;&nbsp; 234355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 1M TSFR + 0.874%, 04/20/33 (b) | 110311 | &nbsp;&nbsp;&nbsp; 103827 |
| Structured Asset Mortgage Investments II Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.948%, 1M TSFR + 0.814%, 01/19/34 (b) | 310850 | &nbsp;&nbsp;&nbsp; 297722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.948%, 1M TSFR + 0.814%, 03/19/34 (b) | 245946 | &nbsp;&nbsp;&nbsp; 231655 |
| Structured Asset Mortgage Investments Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.148%, 1M TSFR + 1.014%, 05/19/33 (b) | 160055 | &nbsp;&nbsp;&nbsp; 155269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Mortgage Pass-Through <br> Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.621%, 11/25/33 (b) | 69472 | &nbsp;&nbsp;&nbsp; 69024 |
| Thornburg Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 1M TSFR + 0.754%, 09/25/43 (b) | 127604 | &nbsp;&nbsp;&nbsp; 126802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, 12/25/44 (b) | 153249 | &nbsp;&nbsp;&nbsp; 149543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.693%, 04/25/45 (b) | 277094 | &nbsp;&nbsp;&nbsp; 271777 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.918%, 11/30/60 (144A) (b) | 3981208 | &nbsp;&nbsp;&nbsp; 3574941 |
|  |  | &nbsp;&nbsp;&nbsp; 16660418 |
| **Commercial Mortgage-Backed Securities — 0.8%** | **Commercial Mortgage-Backed Securities — 0.8%** | **Commercial Mortgage-Backed Securities — 0.8%** |
| BAMLL Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.354%, 08/15/46 (144A) (b) | 1200000 | &nbsp;&nbsp;&nbsp; 835426 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.120%, 07/10/45 (144A) (a) (b) | 26037009 | &nbsp;&nbsp;&nbsp; 37207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.942%, 04/10/33 (144A) (b) | 1450000 | &nbsp;&nbsp;&nbsp; 1421387 |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.373%, 09/15/37 (144A) | 1000000 | &nbsp;&nbsp;&nbsp; 734750 |
| Ladder Capital Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.985%, 02/15/36 (144A) | 768000 | &nbsp;&nbsp;&nbsp; 729504 |
| MRCD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.718%, 12/15/36 (144A) | 1997000 | &nbsp;&nbsp;&nbsp; 1461005 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.388%, 11/13/41 (144A) | 1000000 | &nbsp;&nbsp;&nbsp; 1030316 |
| SLG Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.585%, 07/15/41 (144A) | 3090000 | &nbsp;&nbsp;&nbsp; 2746509 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.515%, 1M TSFR + 1.364%, 02/15/40 (144A) (b) | 444899 | &nbsp;&nbsp;&nbsp; $443786 |
| WFRBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.202%, 03/15/45 (144A) (b) | 300000 | &nbsp;&nbsp;&nbsp; 261789 |
|  |  | &nbsp;&nbsp;&nbsp; 9701679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $28,563,008) <br>|  | &nbsp;&nbsp;&nbsp; 26362097 |
| **Foreign Government—0.9%** | **Foreign Government—0.9%** | **Foreign Government—0.9%** |
| **Sovereign — 0.9%** | **Sovereign — 0.9%** | **Sovereign — 0.9%** |
| Chile Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 01/27/32 | 394000 | &nbsp;&nbsp;&nbsp; 350463 |
| Eagle Funding Luxco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/17/30 (144A) | 2313000 | &nbsp;&nbsp;&nbsp; 2346677 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.659%, 05/24/31 | 848000 | &nbsp;&nbsp;&nbsp; 753363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/12/34 | 577000 | &nbsp;&nbsp;&nbsp; 501125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.771%, 05/24/61 | 625000 | &nbsp;&nbsp;&nbsp; 393094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 01/15/47 | 228000 | &nbsp;&nbsp;&nbsp; 175492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 01/23/46 | 959000 | &nbsp;&nbsp;&nbsp; 767680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 02/10/48 | 200000 | &nbsp;&nbsp;&nbsp; 157540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/22/33 | 2368000 | &nbsp;&nbsp;&nbsp; 2360896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/12/2110 | 500000 | &nbsp;&nbsp;&nbsp; 427000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 07/02/32 | 1051000 | &nbsp;&nbsp;&nbsp; 1085052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/13/30 | 498000 | &nbsp;&nbsp;&nbsp; 522800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 05/13/37 | 740000 | &nbsp;&nbsp;&nbsp; 798090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $11,429,075) <br>|  | &nbsp;&nbsp;&nbsp; 10639272 |
| **Municipals—0.1%** | **Municipals—0.1%** | **Municipals—0.1%** |
| Texas Natural Gas Securitization Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.169%, 04/01/41 <br>(Cost $720,000)<br>| 720000 | &nbsp;&nbsp;&nbsp; 733454 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—2.1%** | **Short-Term Investments—2.1%** | **Short-Term Investments—2.1%** |
| **Repurchase Agreement—2.1%** | **Repurchase Agreement—2.1%** | **Repurchase Agreement—2.1%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $25,913,488; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $26,429,714<br>| 25911328 | &nbsp;&nbsp;&nbsp; 25911328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $25,911,328) <br>|  | &nbsp;&nbsp;&nbsp; 25911328 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (f)—0.3%** | **Securities Lending Reinvestments (f)—0.3%** | **Securities Lending Reinvestments (f)—0.3%** |
| **Short-Term Investment Funds—0.3%** | **Short-Term Investment Funds—0.3%** | **Short-Term Investment Funds—0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (g)<br>| 650000 | &nbsp;&nbsp;&nbsp; 650000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (g)<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |

---

**BHFTI-172**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (f)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (g)<br>| 650000 | &nbsp;&nbsp;&nbsp; $650000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (g)<br>| 650000 | &nbsp;&nbsp;&nbsp; 650000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (g)<br>| 650000 | &nbsp;&nbsp;&nbsp; 650000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (g)<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (g)<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
|  |  | &nbsp;&nbsp;&nbsp; 3300000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements—0.0%** | **Repurchase Agreements—0.0%** | **Repurchase Agreements—0.0%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $100,012; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 5.000%, maturity dates ranging from 11/30/25 - 02/15/52, <br> and an aggregate market value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $79,134; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $80,708<br>| 79125 | &nbsp;&nbsp;&nbsp; 79125 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $247,344; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $252,262<br>| 247315 | &nbsp;&nbsp;&nbsp; 247315 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $50,863; collateralized by <br> various Common Stock with an aggregate market value of <br> $56,710<br>| 50857 | &nbsp;&nbsp;&nbsp; 50857 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $200,023; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 6.750%, maturity dates ranging from 10/31/25 - 05/15/55, <br> and an aggregate market value of $204,024<br>| 200000 | &nbsp;&nbsp;&nbsp; 200000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $84,108; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $85,780<br>| 84098 | &nbsp;&nbsp;&nbsp; $84098 |
|  |  | &nbsp;&nbsp;&nbsp; 761395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $4,061,395) <br>|  | &nbsp;&nbsp;&nbsp; 4061395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.8% <br>(Cost $1,307,126,715) <br>|  | &nbsp;&nbsp;&nbsp; 1235028451 |
| Other assets and liabilities (net)—0.2%  |  | &nbsp;&nbsp;&nbsp; 2355976 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1237384427 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Interest only security.

(b) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

(c) Principal only security.

(d) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $12,609,913 and the collateral received consisted of cash in the amount of $4,061,395 and non-cash collateral with a value of $8,982,106. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(e) Security is a "step up" bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate. 

(f) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(g) The rate shown represents the annualized seven-day yield as of September 30, 2025.

(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025, the market value of 144A securities was $223,736,950, which is 18.1% of net assets. 

**BHFTI-173**

------

**Brighthouse Funds Trust I**

**JPMorgan Core Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $354502556 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $354502556 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 347740798 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 347740798 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 329541778 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 329541778 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 135535773 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 135535773 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26362097 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26362097 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10639272 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10639272 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 733454 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 733454 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25911328 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25911328 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 3300000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 761395 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 761395 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 3300000 | &nbsp;&nbsp;&nbsp; 761395 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4061395 |
| Total Investments | &nbsp;&nbsp;&nbsp; $3300000 | &nbsp;&nbsp;&nbsp; $1231728451 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1235028451 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(4061395)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(4061395)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-174**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—41.7% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 0.9%** | **Aerospace & Defense — 0.9%** | **Aerospace & Defense — 0.9%** |
| BAE Systems PLC | 54126 | &nbsp;&nbsp;&nbsp; $1499823 |
| General Dynamics Corp.  | 2270 | &nbsp;&nbsp;&nbsp; 774070 |
| Howmet Aerospace, Inc.  | 12110 | &nbsp;&nbsp;&nbsp; 2376345 |
| RTX Corp.  | 5727 | &nbsp;&nbsp;&nbsp; 958299 |
| Safran SA | 21042 | &nbsp;&nbsp;&nbsp; 7451830 |
|  |  | &nbsp;&nbsp;&nbsp; 13060367 |
| **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** |
| FedEx Corp.  | 3336 | &nbsp;&nbsp;&nbsp; 786662 |
| **Automobile Components — 0.3%** | **Automobile Components — 0.3%** | **Automobile Components — 0.3%** |
| Cie Generale des Etablissements Michelin SCA | 93347 | &nbsp;&nbsp;&nbsp; 3352962 |
| Gentex Corp.  | 16211 | &nbsp;&nbsp;&nbsp; 458771 |
|  |  | &nbsp;&nbsp;&nbsp; 3811733 |
| **Automobiles — 0.5%** | **Automobiles — 0.5%** | **Automobiles — 0.5%** |
| Kia Corp.  | 12925 | &nbsp;&nbsp;&nbsp; 929086 |
| Suzuki Motor Corp. (a) | 97500 | &nbsp;&nbsp;&nbsp; 1421231 |
| Tesla, Inc. (b) | 12302 | &nbsp;&nbsp;&nbsp; 5470946 |
|  |  | &nbsp;&nbsp;&nbsp; 7821263 |
| **Banks — 4.1%** | **Banks — 4.1%** | **Banks — 4.1%** |
| Banco Bilbao Vizcaya Argentaria SA | 94749 | &nbsp;&nbsp;&nbsp; 1822829 |
| Banco Santander SA | 230418 | &nbsp;&nbsp;&nbsp; 2408166 |
| Bank Central Asia Tbk. PT | 2490800 | &nbsp;&nbsp;&nbsp; 1140591 |
| Bank of America Corp.  | 118542 | &nbsp;&nbsp;&nbsp; 6115582 |
| Bank Rakyat Indonesia Persero Tbk. PT | 4408514 | &nbsp;&nbsp;&nbsp; 1030489 |
| BNP Paribas SA | 17559 | &nbsp;&nbsp;&nbsp; 1600647 |
| Capitec Bank Holdings Ltd.  | 7741 | &nbsp;&nbsp;&nbsp; 1559015 |
| Columbia Banking System, Inc.  | 13999 | &nbsp;&nbsp;&nbsp; 360334 |
| Credicorp Ltd.  | 4322 | &nbsp;&nbsp;&nbsp; 1150862 |
| DBS Group Holdings Ltd.  | 115570 | &nbsp;&nbsp;&nbsp; 4577140 |
| Erste Group Bank AG | 11723 | &nbsp;&nbsp;&nbsp; 1145988 |
| Fifth Third Bancorp | 8340 | &nbsp;&nbsp;&nbsp; 371547 |
| First Citizens BancShares, Inc. - Class A (a) | 659 | &nbsp;&nbsp;&nbsp; 1179056 |
| Grupo Financiero Banorte SAB de CV - Class O | 117044 | &nbsp;&nbsp;&nbsp; 1175521 |
| HDFC Bank Ltd.  | 217680 | &nbsp;&nbsp;&nbsp; 2335890 |
| HDFC Bank Ltd. (ADR) | 23452 | &nbsp;&nbsp;&nbsp; 801120 |
| Itau Unibanco Holding SA (ADR) (a) | 180100 | &nbsp;&nbsp;&nbsp; 1321934 |
| KBC Group NV | 12841 | &nbsp;&nbsp;&nbsp; 1539105 |
| Kotak Mahindra Bank Ltd.  | 76768 | &nbsp;&nbsp;&nbsp; 1726709 |
| M&T Bank Corp.  | 8193 | &nbsp;&nbsp;&nbsp; 1619101 |
| Mitsubishi UFJ Financial Group, Inc.  | 377600 | &nbsp;&nbsp;&nbsp; 5981702 |
| NatWest Group PLC | 260574 | &nbsp;&nbsp;&nbsp; 1828991 |
| Nordea Bank Abp | 146189 | &nbsp;&nbsp;&nbsp; 2406493 |
| NU Holdings Ltd. - Class A (b) | 131402 | &nbsp;&nbsp;&nbsp; 2103746 |
| Regions Financial Corp.  | 37741 | &nbsp;&nbsp;&nbsp; 995230 |
| Sberbank of Russia PJSC † (b) (c) (d) | 2160 | &nbsp;&nbsp;&nbsp; 0 |
| U.S. Bancorp | 28765 | &nbsp;&nbsp;&nbsp; 1390213 |
| UniCredit SpA | 32991 | &nbsp;&nbsp;&nbsp; 2504799 |
| Wells Fargo & Co.  | 76592 | &nbsp;&nbsp;&nbsp; 6419942 |
|  |  | &nbsp;&nbsp;&nbsp; 58612742 |
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| Carlsberg AS - Class B (a) | 4887 | &nbsp;&nbsp;&nbsp; 568146 |
| Coca-Cola Co.  | 57145 | &nbsp;&nbsp;&nbsp; 3789856 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Beverages—(Continued)** | **Beverages—(Continued)** | **Beverages—(Continued)** |
| Constellation Brands, Inc. - Class A (a) | 2663 | &nbsp;&nbsp;&nbsp; $358626 |
| Diageo PLC | 29188 | &nbsp;&nbsp;&nbsp; 694844 |
| Fomento Economico Mexicano SAB de CV (ADR) | 8574 | &nbsp;&nbsp;&nbsp; 845654 |
| Heineken NV | 18985 | &nbsp;&nbsp;&nbsp; 1482745 |
| Keurig Dr. Pepper, Inc.  | 17038 | &nbsp;&nbsp;&nbsp; 434639 |
| Kweichow Moutai Co. Ltd. - Class A | 5756 | &nbsp;&nbsp;&nbsp; 1167721 |
| Pernod Ricard SA | 6970 | &nbsp;&nbsp;&nbsp; 685327 |
| Wuliangye Yibin Co. Ltd. - Class A | 19000 | &nbsp;&nbsp;&nbsp; 324242 |
|  |  | &nbsp;&nbsp;&nbsp; 10351800 |
| **Biotechnology — 0.7%** | **Biotechnology — 0.7%** | **Biotechnology — 0.7%** |
| AbbVie, Inc.  | 21134 | &nbsp;&nbsp;&nbsp; 4893366 |
| Alnylam Pharmaceuticals, Inc. (b) | 2242 | &nbsp;&nbsp;&nbsp; 1022352 |
| Gilead Sciences, Inc.  | 5110 | &nbsp;&nbsp;&nbsp; 567210 |
| Insmed, Inc. (b) | 6910 | &nbsp;&nbsp;&nbsp; 995109 |
| Natera, Inc. (b) | 4608 | &nbsp;&nbsp;&nbsp; 741750 |
| Neurocrine Biosciences, Inc. (b) | 4539 | &nbsp;&nbsp;&nbsp; 637185 |
| Regeneron Pharmaceuticals, Inc.  | 618 | &nbsp;&nbsp;&nbsp; 347483 |
| Vertex Pharmaceuticals, Inc. (b) | 709 | &nbsp;&nbsp;&nbsp; 277673 |
|  |  | &nbsp;&nbsp;&nbsp; 9482128 |
| **Broadline Retail — 1.7%** | **Broadline Retail — 1.7%** | **Broadline Retail — 1.7%** |
| Alibaba Group Holding Ltd.  | 80400 | &nbsp;&nbsp;&nbsp; 1802228 |
| Amazon.com, Inc. (b) | 74683 | &nbsp;&nbsp;&nbsp; 16398146 |
| MercadoLibre, Inc. (b) | 1124 | &nbsp;&nbsp;&nbsp; 2626721 |
| Next PLC | 10551 | &nbsp;&nbsp;&nbsp; 1757543 |
| Sea Ltd. (ADR) (b) | 8766 | &nbsp;&nbsp;&nbsp; 1566747 |
|  |  | &nbsp;&nbsp;&nbsp; 24151385 |
| **Building Products — 0.4%** | **Building Products — 0.4%** | **Building Products — 0.4%** |
| Carlisle Cos., Inc. (a) | 1898 | &nbsp;&nbsp;&nbsp; 624366 |
| Fortune Brands Innovations, Inc.  | 9337 | &nbsp;&nbsp;&nbsp; 498502 |
| Hayward Holdings, Inc. (b) | 21839 | &nbsp;&nbsp;&nbsp; 330206 |
| Kingspan Group PLC | 10666 | &nbsp;&nbsp;&nbsp; 898010 |
| Trane Technologies PLC | 8319 | &nbsp;&nbsp;&nbsp; 3510285 |
|  |  | &nbsp;&nbsp;&nbsp; 5861369 |
| **Capital Markets — 2.1%** | **Capital Markets — 2.1%** | **Capital Markets — 2.1%** |
| 3i Group PLC | 57730 | &nbsp;&nbsp;&nbsp; 3183032 |
| Ameriprise Financial, Inc.  | 921 | &nbsp;&nbsp;&nbsp; 452441 |
| B3 SA - Brasil Bolsa Balcao | 207812 | &nbsp;&nbsp;&nbsp; 523215 |
| Blackstone, Inc.  | 7369 | &nbsp;&nbsp;&nbsp; 1258994 |
| Charles Schwab Corp.  | 23611 | &nbsp;&nbsp;&nbsp; 2254142 |
| CME Group, Inc.  | 6113 | &nbsp;&nbsp;&nbsp; 1651672 |
| Deutsche Boerse AG | 11500 | &nbsp;&nbsp;&nbsp; 3081904 |
| Goldman Sachs Group, Inc.  | 1460 | &nbsp;&nbsp;&nbsp; 1162671 |
| Hong Kong Exchanges & Clearing Ltd.  | 62900 | &nbsp;&nbsp;&nbsp; 3575080 |
| Interactive Brokers Group, Inc. - Class A | 10561 | &nbsp;&nbsp;&nbsp; 726702 |
| Intercontinental Exchange, Inc.  | 1834 | &nbsp;&nbsp;&nbsp; 308992 |
| Japan Exchange Group, Inc.  | 166600 | &nbsp;&nbsp;&nbsp; 1882405 |
| London Stock Exchange Group PLC | 10800 | &nbsp;&nbsp;&nbsp; 1240186 |
| Moody's Corp.  | 1167 | &nbsp;&nbsp;&nbsp; 556052 |
| Morgan Stanley | 20655 | &nbsp;&nbsp;&nbsp; 3283319 |
| Northern Trust Corp.  | 3534 | &nbsp;&nbsp;&nbsp; 475676 |
| Raymond James Financial, Inc.  | 1850 | &nbsp;&nbsp;&nbsp; 319310 |

---

**BHFTI-175**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Capital Markets—(Continued)** | **Capital Markets—(Continued)** | **Capital Markets—(Continued)** |
| Robinhood Markets, Inc. - Class A (b) | 7914 | &nbsp;&nbsp;&nbsp; $1133127 |
| State Street Corp.  | 10534 | &nbsp;&nbsp;&nbsp; 1222049 |
| Tradeweb Markets, Inc. - Class A | 2956 | &nbsp;&nbsp;&nbsp; 328057 |
| UBS Group AG | 36675 | &nbsp;&nbsp;&nbsp; 1507658 |
|  |  | &nbsp;&nbsp;&nbsp; 30126684 |
| **Chemicals — 0.5%** | **Chemicals — 0.5%** | **Chemicals — 0.5%** |
| Air Liquide SA | 10760 | &nbsp;&nbsp;&nbsp; 2239279 |
| Arkema SA | 8994 | &nbsp;&nbsp;&nbsp; 570816 |
| Axalta Coating Systems Ltd. (b) | 19847 | &nbsp;&nbsp;&nbsp; 568021 |
| LG Chem Ltd.  | 1660 | &nbsp;&nbsp;&nbsp; 330353 |
| Linde PLC | 4555 | &nbsp;&nbsp;&nbsp; 2163625 |
| Novonesis (Novozymes) - B Shares (a) | 13482 | &nbsp;&nbsp;&nbsp; 826388 |
| Shin-Etsu Chemical Co. Ltd.  | 27500 | &nbsp;&nbsp;&nbsp; 899873 |
|  |  | &nbsp;&nbsp;&nbsp; 7598355 |
| **Commercial Services & Supplies — 0.0%** | **Commercial Services & Supplies — 0.0%** | **Commercial Services & Supplies — 0.0%** |
| Copart, Inc. (b) | 10638 | &nbsp;&nbsp;&nbsp; 478391 |
| **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** |
| Ciena Corp. (b) | 3022 | &nbsp;&nbsp;&nbsp; 440215 |
| Cisco Systems, Inc.  | 6399 | &nbsp;&nbsp;&nbsp; 437819 |
|  |  | &nbsp;&nbsp;&nbsp; 878034 |
| **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** |
| Comfort Systems USA, Inc.  | 520 | &nbsp;&nbsp;&nbsp; 429094 |
| Quanta Services, Inc.  | 2622 | &nbsp;&nbsp;&nbsp; 1086609 |
| Vinci SA | 10177 | &nbsp;&nbsp;&nbsp; 1417032 |
| WillScot Holdings Corp. (a) | 28065 | &nbsp;&nbsp;&nbsp; 592452 |
|  |  | &nbsp;&nbsp;&nbsp; 3525187 |
| **Construction Materials — 0.1%** | **Construction Materials — 0.1%** | **Construction Materials — 0.1%** |
| Eagle Materials, Inc.  | 1659 | &nbsp;&nbsp;&nbsp; 386613 |
| Martin Marietta Materials, Inc.  | 1043 | &nbsp;&nbsp;&nbsp; 657382 |
|  |  | &nbsp;&nbsp;&nbsp; 1043995 |
| **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** |
| American Express Co.  | 9402 | &nbsp;&nbsp;&nbsp; 3122968 |
| Capital One Financial Corp.  | 7555 | &nbsp;&nbsp;&nbsp; 1606042 |
|  |  | &nbsp;&nbsp;&nbsp; 4729010 |
| **Consumer Staples Distribution & Retail — 0.4%** | **Consumer Staples Distribution & Retail — 0.4%** | **Consumer Staples Distribution & Retail — 0.4%** |
| Bid Corp. Ltd.  | 37533 | &nbsp;&nbsp;&nbsp; 940688 |
| BJ's Wholesale Club Holdings, Inc. (a) (b) | 5548 | &nbsp;&nbsp;&nbsp; 517351 |
| Casey's General Stores, Inc.  | 850 | &nbsp;&nbsp;&nbsp; 480522 |
| Koninklijke Ahold Delhaize NV | 34873 | &nbsp;&nbsp;&nbsp; 1410826 |
| President Chain Store Corp.  | 82000 | &nbsp;&nbsp;&nbsp; 667623 |
| Raia Drogasil SA | 83905 | &nbsp;&nbsp;&nbsp; 290391 |
| Wal-Mart de Mexico SAB de CV (a) | 281916 | &nbsp;&nbsp;&nbsp; 870986 |
|  |  | &nbsp;&nbsp;&nbsp; 5178387 |
| **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** |
| Graphic Packaging Holding Co. (a) | 30980 | &nbsp;&nbsp;&nbsp; 606278 |
| International Paper Co. (a) | 7234 | &nbsp;&nbsp;&nbsp; 335658 |
| Packaging Corp. of America | 2218 | &nbsp;&nbsp;&nbsp; 483369 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Containers & Packaging—(Continued)** | **Containers & Packaging—(Continued)** | **Containers & Packaging—(Continued)** |
| Silgan Holdings, Inc.  | 13395 | &nbsp;&nbsp;&nbsp; $576119 |
| Smurfit WestRock PLC | 14027 | &nbsp;&nbsp;&nbsp; 597129 |
|  |  | &nbsp;&nbsp;&nbsp; 2598553 |
| **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** |
| AT&T, Inc.  | 54374 | &nbsp;&nbsp;&nbsp; 1535522 |
| Deutsche Telekom AG | 46653 | &nbsp;&nbsp;&nbsp; 1589494 |
| Koninklijke KPN NV | 382422 | &nbsp;&nbsp;&nbsp; 1836192 |
| Telstra Group Ltd.  | 431829 | &nbsp;&nbsp;&nbsp; 1378224 |
| Verizon Communications, Inc.  | 15746 | &nbsp;&nbsp;&nbsp; 692037 |
|  |  | &nbsp;&nbsp;&nbsp; 7031469 |
| **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** |
| Entergy Corp.  | 3563 | &nbsp;&nbsp;&nbsp; 332036 |
| Iberdrola SA (a) | 122973 | &nbsp;&nbsp;&nbsp; 2330125 |
| NextEra Energy, Inc.  | 32234 | &nbsp;&nbsp;&nbsp; 2433345 |
| PG&E Corp.  | 35082 | &nbsp;&nbsp;&nbsp; 529037 |
| Southern Co. (a) | 51696 | &nbsp;&nbsp;&nbsp; 4899230 |
| SSE PLC | 46941 | &nbsp;&nbsp;&nbsp; 1100057 |
| Xcel Energy, Inc.  | 6856 | &nbsp;&nbsp;&nbsp; 552936 |
|  |  | &nbsp;&nbsp;&nbsp; 12176766 |
| **Electrical Equipment — 0.7%** | **Electrical Equipment — 0.7%** | **Electrical Equipment — 0.7%** |
| AMETEK, Inc.  | 3488 | &nbsp;&nbsp;&nbsp; 655744 |
| Eaton Corp. PLC | 6586 | &nbsp;&nbsp;&nbsp; 2464810 |
| Emerson Electric Co. (a) | 18403 | &nbsp;&nbsp;&nbsp; 2414106 |
| Legrand SA | 18799 | &nbsp;&nbsp;&nbsp; 3135887 |
| WEG SA | 140409 | &nbsp;&nbsp;&nbsp; 965300 |
|  |  | &nbsp;&nbsp;&nbsp; 9635847 |
| **Electronic Equipment, Instruments & Components — 0.5%** | **Electronic Equipment, Instruments & Components — 0.5%** | **Electronic Equipment, Instruments & Components — 0.5%** |
| CDW Corp.  | 1596 | &nbsp;&nbsp;&nbsp; 254211 |
| Delta Electronics, Inc.  | 70867 | &nbsp;&nbsp;&nbsp; 1986516 |
| Jabil, Inc.  | 1810 | &nbsp;&nbsp;&nbsp; 393078 |
| Keyence Corp. (a) | 10100 | &nbsp;&nbsp;&nbsp; 3760548 |
| TD SYNNEX Corp.  | 7498 | &nbsp;&nbsp;&nbsp; 1227798 |
|  |  | &nbsp;&nbsp;&nbsp; 7622151 |
| **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** |
| Baker Hughes Co.  | 73396 | &nbsp;&nbsp;&nbsp; 3575853 |
| Flowco Holdings, Inc. - Class A | 8276 | &nbsp;&nbsp;&nbsp; 122899 |
| TechnipFMC PLC | 14204 | &nbsp;&nbsp;&nbsp; 560348 |
|  |  | &nbsp;&nbsp;&nbsp; 4259100 |
| **Entertainment — 1.0%** | **Entertainment — 1.0%** | **Entertainment — 1.0%** |
| NetEase, Inc.  | 64775 | &nbsp;&nbsp;&nbsp; 1969404 |
| Netflix, Inc. (b) | 1766 | &nbsp;&nbsp;&nbsp; 2117293 |
| Nintendo Co. Ltd.  | 14800 | &nbsp;&nbsp;&nbsp; 1267862 |
| Spotify Technology SA (b) | 1152 | &nbsp;&nbsp;&nbsp; 804096 |
| Take-Two Interactive Software, Inc. (b) | 3715 | &nbsp;&nbsp;&nbsp; 959807 |
| Tencent Music Entertainment Group (ADR) | 29931 | &nbsp;&nbsp;&nbsp; 698590 |
| Walt Disney Co.  | 63404 | &nbsp;&nbsp;&nbsp; 7259758 |
|  |  | &nbsp;&nbsp;&nbsp; 15076810 |

---

**BHFTI-176**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Financial Services — 0.8%** | **Financial Services — 0.8%** | **Financial Services — 0.8%** |
| Berkshire Hathaway, Inc. - Class B (b) | 5028 | &nbsp;&nbsp;&nbsp; $2527777 |
| Corpay, Inc. (b) | 1927 | &nbsp;&nbsp;&nbsp; 555091 |
| Fidelity National Information Services, Inc.  | 16451 | &nbsp;&nbsp;&nbsp; 1084779 |
| Mastercard, Inc. - Class A | 11474 | &nbsp;&nbsp;&nbsp; 6526526 |
| MGIC Investment Corp.  | 26703 | &nbsp;&nbsp;&nbsp; 757564 |
|  |  | &nbsp;&nbsp;&nbsp; 11451737 |
| **Food Products — 0.4%** | **Food Products — 0.4%** | **Food Products — 0.4%** |
| Ajinomoto Co., Inc. (a) | 60200 | &nbsp;&nbsp;&nbsp; 1727010 |
| Inner Mongolia Yili Industrial Group Co. Ltd. - Class A | 120600 | &nbsp;&nbsp;&nbsp; 461854 |
| Nestle SA | 28360 | &nbsp;&nbsp;&nbsp; 2605098 |
| Post Holdings, Inc. (b) | 6157 | &nbsp;&nbsp;&nbsp; 661754 |
|  |  | &nbsp;&nbsp;&nbsp; 5455716 |
| **Ground Transportation — 0.2%** | **Ground Transportation — 0.2%** | **Ground Transportation — 0.2%** |
| JB Hunt Transport Services, Inc.  | 3545 | &nbsp;&nbsp;&nbsp; 475633 |
| Uber Technologies, Inc. (b) | 9712 | &nbsp;&nbsp;&nbsp; 951484 |
| Union Pacific Corp.  | 3459 | &nbsp;&nbsp;&nbsp; 817604 |
|  |  | &nbsp;&nbsp;&nbsp; 2244721 |
| **Health Care Equipment & Supplies — 0.5%** | **Health Care Equipment & Supplies — 0.5%** | **Health Care Equipment & Supplies — 0.5%** |
| Abbott Laboratories | 3463 | &nbsp;&nbsp;&nbsp; 463834 |
| Align Technology, Inc. (b) | 2926 | &nbsp;&nbsp;&nbsp; 366394 |
| Hoya Corp.  | 14400 | &nbsp;&nbsp;&nbsp; 1989221 |
| Intuitive Surgical, Inc. (b) | 1748 | &nbsp;&nbsp;&nbsp; 781758 |
| Medtronic PLC | 20659 | &nbsp;&nbsp;&nbsp; 1967563 |
| Terumo Corp.  | 69700 | &nbsp;&nbsp;&nbsp; 1150314 |
|  |  | &nbsp;&nbsp;&nbsp; 6719084 |
| **Health Care Providers & Services — 0.6%** | **Health Care Providers & Services — 0.6%** | **Health Care Providers & Services — 0.6%** |
| Cencora, Inc.  | 3496 | &nbsp;&nbsp;&nbsp; 1092605 |
| Cigna Group | 3494 | &nbsp;&nbsp;&nbsp; 1007146 |
| CVS Health Corp.  | 7390 | &nbsp;&nbsp;&nbsp; 557132 |
| HCA Healthcare, Inc.  | 1207 | &nbsp;&nbsp;&nbsp; 514423 |
| Henry Schein, Inc. (b) | 15198 | &nbsp;&nbsp;&nbsp; 1008691 |
| Humana, Inc.  | 2519 | &nbsp;&nbsp;&nbsp; 655368 |
| Labcorp Holdings, Inc.  | 3242 | &nbsp;&nbsp;&nbsp; 930649 |
| McKesson Corp.  | 857 | &nbsp;&nbsp;&nbsp; 662067 |
| UnitedHealth Group, Inc.  | 7557 | &nbsp;&nbsp;&nbsp; 2609432 |
|  |  | &nbsp;&nbsp;&nbsp; 9037513 |
| **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** |
| Apple Hospitality REIT, Inc. (a) | 11889 | &nbsp;&nbsp;&nbsp; 142787 |
| Host Hotels & Resorts, Inc.  | 31361 | &nbsp;&nbsp;&nbsp; 533764 |
|  |  | &nbsp;&nbsp;&nbsp; 676551 |
| **Hotels, Restaurants & Leisure — 1.3%** | **Hotels, Restaurants & Leisure — 1.3%** | **Hotels, Restaurants & Leisure — 1.3%** |
| Booking Holdings, Inc.  | 338 | &nbsp;&nbsp;&nbsp; 1824953 |
| Chipotle Mexican Grill, Inc. (b) | 27085 | &nbsp;&nbsp;&nbsp; 1061461 |
| Compass Group PLC | 46382 | &nbsp;&nbsp;&nbsp; 1580214 |
| Darden Restaurants, Inc.  | 1538 | &nbsp;&nbsp;&nbsp; 292774 |
| DoorDash, Inc. - Class A (b) | 4529 | &nbsp;&nbsp;&nbsp; 1231843 |
| Expedia Group, Inc.  | 5704 | &nbsp;&nbsp;&nbsp; 1219230 |
| Flutter Entertainment PLC (b) | 1953 | &nbsp;&nbsp;&nbsp; 496062 |
| H World Group Ltd. (ADR) (a) | 15274 | &nbsp;&nbsp;&nbsp; 597366 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** |
| Hilton Worldwide Holdings, Inc.  | 1207 | &nbsp;&nbsp;&nbsp; $313144 |
| InterContinental Hotels Group PLC | 7896 | &nbsp;&nbsp;&nbsp; 956992 |
| Marriott International, Inc. - Class A (a) | 5528 | &nbsp;&nbsp;&nbsp; 1439712 |
| McDonald's Corp.  | 12360 | &nbsp;&nbsp;&nbsp; 3756081 |
| Trip.com Group Ltd.  | 18250 | &nbsp;&nbsp;&nbsp; 1383522 |
| Yum China Holdings, Inc. (a) | 19202 | &nbsp;&nbsp;&nbsp; 824150 |
| Yum! Brands, Inc.  | 13402 | &nbsp;&nbsp;&nbsp; 2037104 |
|  |  | &nbsp;&nbsp;&nbsp; 19014608 |
| **Household Durables — 0.7%** | **Household Durables — 0.7%** | **Household Durables — 0.7%** |
| Garmin Ltd.  | 2006 | &nbsp;&nbsp;&nbsp; 493917 |
| Midea Group Co. Ltd. - Class A | 120800 | &nbsp;&nbsp;&nbsp; 1233565 |
| Mohawk Industries, Inc. (b) | 4057 | &nbsp;&nbsp;&nbsp; 523028 |
| Sony Group Corp.  | 262400 | &nbsp;&nbsp;&nbsp; 7529623 |
|  |  | &nbsp;&nbsp;&nbsp; 9780133 |
| **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** |
| Procter & Gamble Co.  | 4321 | &nbsp;&nbsp;&nbsp; 663922 |
| Unilever Indonesia Tbk. PT | 399500 | &nbsp;&nbsp;&nbsp; 42813 |
|  |  | &nbsp;&nbsp;&nbsp; 706735 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| Vistra Corp.  | 3957 | &nbsp;&nbsp;&nbsp; 775255 |
| **Industrial Conglomerates — 0.6%** | **Industrial Conglomerates — 0.6%** | **Industrial Conglomerates — 0.6%** |
| 3M Co.  | 12622 | &nbsp;&nbsp;&nbsp; 1958682 |
| Bidvest Group Ltd.  | 22588 | &nbsp;&nbsp;&nbsp; 277136 |
| Hitachi Ltd.  | 52800 | &nbsp;&nbsp;&nbsp; 1386528 |
| Siemens AG | 18415 | &nbsp;&nbsp;&nbsp; 4968701 |
|  |  | &nbsp;&nbsp;&nbsp; 8591047 |
| **Industrial REITs — 0.0%** | **Industrial REITs — 0.0%** | **Industrial REITs — 0.0%** |
| EastGroup Properties, Inc.  | 1518 | &nbsp;&nbsp;&nbsp; 256937 |
| **Insurance — 1.6%** | **Insurance — 1.6%** | **Insurance — 1.6%** |
| AIA Group Ltd.  | 427800 | &nbsp;&nbsp;&nbsp; 4100565 |
| Allianz SE | 4527 | &nbsp;&nbsp;&nbsp; 1902891 |
| Arch Capital Group Ltd.  | 4808 | &nbsp;&nbsp;&nbsp; 436230 |
| Arthur J Gallagher & Co.  | 5145 | &nbsp;&nbsp;&nbsp; 1593612 |
| Chubb Ltd.  | 1992 | &nbsp;&nbsp;&nbsp; 562242 |
| HDFC Life Insurance Co. Ltd.  | 91675 | &nbsp;&nbsp;&nbsp; 779926 |
| Kinsale Capital Group, Inc.  | 706 | &nbsp;&nbsp;&nbsp; 300234 |
| Loews Corp.  | 10554 | &nbsp;&nbsp;&nbsp; 1059516 |
| Marsh & McLennan Cos., Inc.  | 1561 | &nbsp;&nbsp;&nbsp; 314588 |
| Medibank Pvt Ltd.  | 309344 | &nbsp;&nbsp;&nbsp; 985057 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 6900 | &nbsp;&nbsp;&nbsp; 4408795 |
| Oscar Health, Inc. - Class A (b) | 11973 | &nbsp;&nbsp;&nbsp; 226649 |
| Ping An Insurance Group Co. of China Ltd. - Class H | 173500 | &nbsp;&nbsp;&nbsp; 1180648 |
| Progressive Corp.  | 2339 | &nbsp;&nbsp;&nbsp; 577616 |
| QBE Insurance Group Ltd.  | 77071 | &nbsp;&nbsp;&nbsp; 1051335 |
| Sony Financial Group, Inc. (b) | 262400 | &nbsp;&nbsp;&nbsp; 290994 |
| Tokio Marine Holdings, Inc. (a) | 31500 | &nbsp;&nbsp;&nbsp; 1332626 |
| Travelers Cos., Inc.  | 4325 | &nbsp;&nbsp;&nbsp; 1207626 |
| W.R. Berkley Corp.  | 4862 | &nbsp;&nbsp;&nbsp; 372526 |
|  |  | &nbsp;&nbsp;&nbsp; 22683676 |

---

**BHFTI-177**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Interactive Media & Services — 1.7%** | **Interactive Media & Services — 1.7%** | **Interactive Media & Services — 1.7%** |
| Alphabet, Inc. - Class C | 16320 | &nbsp;&nbsp;&nbsp; $3974736 |
| Angi, Inc. (b) | 4862 | &nbsp;&nbsp;&nbsp; 79056 |
| IAC, Inc. (b) | 9381 | &nbsp;&nbsp;&nbsp; 319611 |
| Meta Platforms, Inc. - Class A | 19438 | &nbsp;&nbsp;&nbsp; 14274878 |
| Reddit, Inc. - Class A (b) | 2411 | &nbsp;&nbsp;&nbsp; 554506 |
| Tencent Holdings Ltd.  | 67800 | &nbsp;&nbsp;&nbsp; 5776275 |
|  |  | &nbsp;&nbsp;&nbsp; 24979062 |
| **IT Services — 0.6%** | **IT Services — 0.6%** | **IT Services — 0.6%** |
| Capgemini SE | 5888 | &nbsp;&nbsp;&nbsp; 856805 |
| Cognizant Technology Solutions Corp. - Class A | 8284 | &nbsp;&nbsp;&nbsp; 555608 |
| EPAM Systems, Inc. (b) | 2898 | &nbsp;&nbsp;&nbsp; 436989 |
| GoDaddy, Inc. - Class A (b) | 1532 | &nbsp;&nbsp;&nbsp; 209624 |
| Infosys Ltd. (ADR) (a) | 136995 | &nbsp;&nbsp;&nbsp; 2228909 |
| Shopify, Inc. - Class A (b) | 3903 | &nbsp;&nbsp;&nbsp; 580025 |
| Snowflake, Inc. - Class A (b) | 3961 | &nbsp;&nbsp;&nbsp; 893403 |
| Tata Consultancy Services Ltd.  | 59960 | &nbsp;&nbsp;&nbsp; 1952649 |
| Twilio, Inc. - Class A (b) | 3254 | &nbsp;&nbsp;&nbsp; 325693 |
|  |  | &nbsp;&nbsp;&nbsp; 8039705 |
| **Life Sciences Tools & Services — 0.3%** | **Life Sciences Tools & Services — 0.3%** | **Life Sciences Tools & Services — 0.3%** |
| Danaher Corp.  | 7352 | &nbsp;&nbsp;&nbsp; 1457608 |
| IQVIA Holdings, Inc. (b) | 1294 | &nbsp;&nbsp;&nbsp; 245782 |
| Lonza Group AG | 2731 | &nbsp;&nbsp;&nbsp; 1832875 |
| Mettler-Toledo International, Inc. (b) | 227 | &nbsp;&nbsp;&nbsp; 278668 |
| Thermo Fisher Scientific, Inc.  | 1211 | &nbsp;&nbsp;&nbsp; 587359 |
|  |  | &nbsp;&nbsp;&nbsp; 4402292 |
| **Machinery — 1.1%** | **Machinery — 1.1%** | **Machinery — 1.1%** |
| Atlas Copco AB - A Shares | 207026 | &nbsp;&nbsp;&nbsp; 3525272 |
| Deere & Co. (a) | 663 | &nbsp;&nbsp;&nbsp; 303163 |
| Dover Corp.  | 4826 | &nbsp;&nbsp;&nbsp; 805122 |
| IHI Corp. (a) | 105700 | &nbsp;&nbsp;&nbsp; 1965992 |
| ITT, Inc.  | 5083 | &nbsp;&nbsp;&nbsp; 908637 |
| Middleby Corp. (b) | 4224 | &nbsp;&nbsp;&nbsp; 561496 |
| Techtronic Industries Co. Ltd.  | 88000 | &nbsp;&nbsp;&nbsp; 1128979 |
| Volvo AB - B Shares | 225644 | &nbsp;&nbsp;&nbsp; 6507262 |
|  |  | &nbsp;&nbsp;&nbsp; 15705923 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Nexstar Media Group, Inc.  | 1336 | &nbsp;&nbsp;&nbsp; 264180 |
| Omnicom Group, Inc.  | 6360 | &nbsp;&nbsp;&nbsp; 518531 |
|  |  | &nbsp;&nbsp;&nbsp; 782711 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| Rio Tinto Ltd.  | 11031 | &nbsp;&nbsp;&nbsp; 891850 |
| Rio Tinto PLC | 17322 | &nbsp;&nbsp;&nbsp; 1141523 |
|  |  | &nbsp;&nbsp;&nbsp; 2033373 |
| **Multi-Utilities — 0.2%** | **Multi-Utilities — 0.2%** | **Multi-Utilities — 0.2%** |
| Dominion Energy, Inc. (a) | 29156 | &nbsp;&nbsp;&nbsp; 1783472 |
| Engie SA | 73812 | &nbsp;&nbsp;&nbsp; 1583310 |
| Public Service Enterprise Group, Inc.  | 3436 | &nbsp;&nbsp;&nbsp; 286769 |
|  |  | &nbsp;&nbsp;&nbsp; 3653551 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Oil, Gas & Consumable Fuels — 1.1%** | **Oil, Gas & Consumable Fuels — 1.1%** | **Oil, Gas & Consumable Fuels — 1.1%** |
| Cheniere Energy, Inc.  | 1995 | &nbsp;&nbsp;&nbsp; $468785 |
| Chevron Corp.  | 7088 | &nbsp;&nbsp;&nbsp; 1100695 |
| ConocoPhillips | 13930 | &nbsp;&nbsp;&nbsp; 1317639 |
| EOG Resources, Inc. (a) | 12588 | &nbsp;&nbsp;&nbsp; 1411367 |
| Exxon Mobil Corp.  | 44845 | &nbsp;&nbsp;&nbsp; 5056274 |
| Kinder Morgan, Inc.  | 20987 | &nbsp;&nbsp;&nbsp; 594142 |
| Shell PLC | 84638 | &nbsp;&nbsp;&nbsp; 3013416 |
| TotalEnergies SE | 25116 | &nbsp;&nbsp;&nbsp; 1532603 |
| Williams Cos., Inc.  | 23207 | &nbsp;&nbsp;&nbsp; 1470163 |
|  |  | &nbsp;&nbsp;&nbsp; 15965084 |
| **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** |
| Southwest Airlines Co.  | 12125 | &nbsp;&nbsp;&nbsp; 386909 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
| Kao Corp.  | 41800 | &nbsp;&nbsp;&nbsp; 1821793 |
| **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** |
| AstraZeneca PLC | 32517 | &nbsp;&nbsp;&nbsp; 4967079 |
| Bristol-Myers Squibb Co.  | 50885 | &nbsp;&nbsp;&nbsp; 2294913 |
| Eli Lilly & Co.  | 1080 | &nbsp;&nbsp;&nbsp; 824040 |
| Johnson & Johnson | 40962 | &nbsp;&nbsp;&nbsp; 7595174 |
| Merck & Co., Inc.  | 6499 | &nbsp;&nbsp;&nbsp; 545461 |
| Novartis AG | 22021 | &nbsp;&nbsp;&nbsp; 2831692 |
| Novo Nordisk AS - Class B | 45571 | &nbsp;&nbsp;&nbsp; 2515324 |
|  |  | &nbsp;&nbsp;&nbsp; 21573683 |
| **Professional Services — 0.3%** | **Professional Services — 0.3%** | **Professional Services — 0.3%** |
| Recruit Holdings Co. Ltd.  | 19300 | &nbsp;&nbsp;&nbsp; 1035524 |
| RELX PLC | 68116 | &nbsp;&nbsp;&nbsp; 3259505 |
| TransUnion | 5603 | &nbsp;&nbsp;&nbsp; 469419 |
|  |  | &nbsp;&nbsp;&nbsp; 4764448 |
| **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** |
| CBRE Group, Inc. - Class A (b) | 4134 | &nbsp;&nbsp;&nbsp; 651353 |
| Mitsui Fudosan Co. Ltd.  | 157400 | &nbsp;&nbsp;&nbsp; 1719470 |
|  |  | &nbsp;&nbsp;&nbsp; 2370823 |
| **Residential REITs — 0.1%** | **Residential REITs — 0.1%** | **Residential REITs — 0.1%** |
| American Homes 4 Rent - Class A | 20624 | &nbsp;&nbsp;&nbsp; 685748 |
| Mid-America Apartment Communities, Inc.  | 4861 | &nbsp;&nbsp;&nbsp; 679228 |
|  |  | &nbsp;&nbsp;&nbsp; 1364976 |
| **Retail REITs — 0.0%** | **Retail REITs — 0.0%** | **Retail REITs — 0.0%** |
| Regency Centers Corp. (a) | 10390 | &nbsp;&nbsp;&nbsp; 757431 |
| **Semiconductors & Semiconductor Equipment — 4.5%** | **Semiconductors & Semiconductor Equipment — 4.5%** | **Semiconductors & Semiconductor Equipment — 4.5%** |
| Analog Devices, Inc.  | 6297 | &nbsp;&nbsp;&nbsp; 1547173 |
| ASE Technology Holding Co. Ltd.  | 176000 | &nbsp;&nbsp;&nbsp; 954791 |
| ASML Holding NV | 9647 | &nbsp;&nbsp;&nbsp; 9405462 |
| Broadcom, Inc.  | 15048 | &nbsp;&nbsp;&nbsp; 4964486 |
| Infineon Technologies AG | 43037 | &nbsp;&nbsp;&nbsp; 1679808 |
| NVIDIA Corp.  | 146692 | &nbsp;&nbsp;&nbsp; 27369793 |
| NXP Semiconductors NV | 4972 | &nbsp;&nbsp;&nbsp; 1132273 |
| ON Semiconductor Corp. (b) | 7389 | &nbsp;&nbsp;&nbsp; 364352 |
| Realtek Semiconductor Corp.  | 57000 | &nbsp;&nbsp;&nbsp; 1030662 |

---

**BHFTI-178**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Semiconductors & Semiconductor Equipment—(Continued)** | **Semiconductors & Semiconductor Equipment—(Continued)** | **Semiconductors & Semiconductor Equipment—(Continued)** |
| SK Hynix, Inc.  | 11329 | &nbsp;&nbsp;&nbsp; $2832622 |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 266000 | &nbsp;&nbsp;&nbsp; 11572158 |
| Teradyne, Inc.  | 3582 | &nbsp;&nbsp;&nbsp; 493026 |
| Texas Instruments, Inc.  | 5578 | &nbsp;&nbsp;&nbsp; 1024846 |
|  |  | &nbsp;&nbsp;&nbsp; 64371452 |
| **Software — 2.4%** | **Software — 2.4%** | **Software — 2.4%** |
| AppLovin Corp. - Class A (b) | 919 | &nbsp;&nbsp;&nbsp; 660338 |
| Atlassian Corp. - Class A (b) | 2176 | &nbsp;&nbsp;&nbsp; 347507 |
| Crowdstrike Holdings, Inc. - Class A (b) | 1347 | &nbsp;&nbsp;&nbsp; 660542 |
| Figma, Inc. - Class A (a) (b) | 1780 | &nbsp;&nbsp;&nbsp; 92329 |
| HubSpot, Inc. (b) | 1172 | &nbsp;&nbsp;&nbsp; 548262 |
| Intuit, Inc.  | 2214 | &nbsp;&nbsp;&nbsp; 1511963 |
| Microsoft Corp.  | 46555 | &nbsp;&nbsp;&nbsp; 24113162 |
| Oracle Corp.  | 5671 | &nbsp;&nbsp;&nbsp; 1594912 |
| Palo Alto Networks, Inc. (a) (b) | 4525 | &nbsp;&nbsp;&nbsp; 921380 |
| Sage Group PLC | 77279 | &nbsp;&nbsp;&nbsp; 1147404 |
| Salesforce, Inc.  | 5805 | &nbsp;&nbsp;&nbsp; 1375785 |
| SAP SE | 3896 | &nbsp;&nbsp;&nbsp; 1044485 |
| ServiceNow, Inc. (b) | 525 | &nbsp;&nbsp;&nbsp; 483147 |
| Synopsys, Inc. (b) | 770 | &nbsp;&nbsp;&nbsp; 379910 |
|  |  | &nbsp;&nbsp;&nbsp; 34881126 |
| **Specialized REITs — 0.3%** | **Specialized REITs — 0.3%** | **Specialized REITs — 0.3%** |
| American Tower Corp.  | 11242 | &nbsp;&nbsp;&nbsp; 2162061 |
| Equinix, Inc.  | 734 | &nbsp;&nbsp;&nbsp; 574898 |
| Lamar Advertising Co. - Class A | 3574 | &nbsp;&nbsp;&nbsp; 437529 |
| Public Storage | 2026 | &nbsp;&nbsp;&nbsp; 585210 |
| Rayonier, Inc.  | 14798 | &nbsp;&nbsp;&nbsp; 392739 |
| SBA Communications Corp.  | 2176 | &nbsp;&nbsp;&nbsp; 420730 |
| Weyerhaeuser Co. (a) | 19053 | &nbsp;&nbsp;&nbsp; 472324 |
|  |  | &nbsp;&nbsp;&nbsp; 5045491 |
| **Specialty Retail — 1.0%** | **Specialty Retail — 1.0%** | **Specialty Retail — 1.0%** |
| AutoZone, Inc. (b) | 333 | &nbsp;&nbsp;&nbsp; 1428650 |
| Bath & Body Works, Inc.  | 8523 | &nbsp;&nbsp;&nbsp; 219553 |
| Best Buy Co., Inc.  | 5634 | &nbsp;&nbsp;&nbsp; 426043 |
| Burlington Stores, Inc. (b) | 4322 | &nbsp;&nbsp;&nbsp; 1099949 |
| Carvana Co. (b) | 1464 | &nbsp;&nbsp;&nbsp; 552279 |
| Home Depot, Inc.  | 1776 | &nbsp;&nbsp;&nbsp; 719617 |
| Industria de Diseno Textil SA (a) | 19865 | &nbsp;&nbsp;&nbsp; 1097466 |
| Lowe's Cos., Inc.  | 20630 | &nbsp;&nbsp;&nbsp; 5184525 |
| Murphy USA, Inc.  | 1382 | &nbsp;&nbsp;&nbsp; 536575 |
| Ross Stores, Inc.  | 6474 | &nbsp;&nbsp;&nbsp; 986573 |
| TJX Cos., Inc.  | 7146 | &nbsp;&nbsp;&nbsp; 1032883 |
| Ulta Beauty, Inc. (b) | 1260 | &nbsp;&nbsp;&nbsp; 688905 |
|  |  | &nbsp;&nbsp;&nbsp; 13973018 |
| **Technology Hardware, Storage & Peripherals — 1.5%** | **Technology Hardware, Storage & Peripherals — 1.5%** | **Technology Hardware, Storage & Peripherals — 1.5%** |
| Apple, Inc.  | 59221 | &nbsp;&nbsp;&nbsp; 15079443 |
| Hewlett Packard Enterprise Co.  | 41804 | &nbsp;&nbsp;&nbsp; 1026706 |
| Quanta Computer, Inc.  | 72000 | &nbsp;&nbsp;&nbsp; 687219 |
| Samsung Electronics Co. Ltd. (GDR) | 2471 | &nbsp;&nbsp;&nbsp; 3691674 |
| Western Digital Corp.  | 7511 | &nbsp;&nbsp;&nbsp; 901771 |
|  |  | &nbsp;&nbsp;&nbsp; 21386813 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** |
| Cie Financiere Richemont SA - Class A | 8592 | &nbsp;&nbsp;&nbsp; $1648623 |
| Columbia Sportswear Co.  | 5735 | &nbsp;&nbsp;&nbsp; 299941 |
| Kontoor Brands, Inc.  | 5093 | &nbsp;&nbsp;&nbsp; 406269 |
| LVMH Moet Hennessy Louis Vuitton SE | 5763 | &nbsp;&nbsp;&nbsp; 3526288 |
|  |  | &nbsp;&nbsp;&nbsp; 5881121 |
| **Tobacco — 0.2%** | **Tobacco — 0.2%** | **Tobacco — 0.2%** |
| ITC Ltd.  | 265060 | &nbsp;&nbsp;&nbsp; 1199265 |
| Philip Morris International, Inc.  | 8042 | &nbsp;&nbsp;&nbsp; 1304412 |
|  |  | &nbsp;&nbsp;&nbsp; 2503677 |
| **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** |
| ITOCHU Corp.  | 31100 | &nbsp;&nbsp;&nbsp; 1788430 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $478,102,979) <br>|  | &nbsp;&nbsp;&nbsp; 601724793 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—18.9%** | **Convertible Bonds—18.9%** | **Convertible Bonds—18.9%** |
| **Aerospace/Defense — 0.5%** | **Aerospace/Defense — 0.5%** | **Aerospace/Defense — 0.5%** |
| MTU Aero Engines AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.050%, 03/18/27 (EUR) | 1800000 | &nbsp;&nbsp;&nbsp; 2405185 |
| Rheinmetall AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/07/30 (EUR) | 700000 | &nbsp;&nbsp;&nbsp; 5276590 |
|  |  | &nbsp;&nbsp;&nbsp; 7681775 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| International Consolidated Airlines Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 05/18/28 (EUR) | 2200000 | &nbsp;&nbsp;&nbsp; 3620149 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| Pirelli & C SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/22/25 (EUR) | 1400000 | &nbsp;&nbsp;&nbsp; 1687369 |
| **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 02/16/29 (a) | 2431000 | &nbsp;&nbsp;&nbsp; 2737428 |
| Morgan Stanley Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/21/28 | 2100000 | &nbsp;&nbsp;&nbsp; 2501100 |
|  |  | &nbsp;&nbsp;&nbsp; 5238528 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Fomento Economico Mexicano SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 02/24/26 (EUR) | 1600000 | &nbsp;&nbsp;&nbsp; 1875413 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| TCC Group Holdings Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/28/30 | 900000 | &nbsp;&nbsp;&nbsp; 1007370 |
| **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
| LG Chem Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 06/16/28 | 3100000 | &nbsp;&nbsp;&nbsp; 3532450 |
| **Commercial Services — 0.7%** | **Commercial Services — 0.7%** | **Commercial Services — 0.7%** |
| Elis SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 09/22/29 (EUR) | 1100000 | &nbsp;&nbsp;&nbsp; 2033600 |

---

**BHFTI-179**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Convertible Bonds—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Services—(Continued)** | **Commercial Services—(Continued)** | **Commercial Services—(Continued)** |
| Euronet Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 10/01/30 (144A) | 2591000 | &nbsp;&nbsp;&nbsp; $2467927 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 03/01/31 (a) | 5340000 | &nbsp;&nbsp;&nbsp; 4887461 |
|  |  | &nbsp;&nbsp;&nbsp; 9388988 |
| **Computers — 0.2%** | **Computers — 0.2%** | **Computers — 0.2%** |
| Lenovo Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/26/29 | 1751000 | &nbsp;&nbsp;&nbsp; 2506557 |
| **Diversified Financial Services — 0.9%** | **Diversified Financial Services — 0.9%** | **Diversified Financial Services — 0.9%** |
| Citigroup Global Markets Funding Luxembourg SCA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/15/28 (EUR) | 800000 | &nbsp;&nbsp;&nbsp; 977770 |
| Citigroup Global Markets Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/10/28 | 1000000 | &nbsp;&nbsp;&nbsp; 1128760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 02/05/30 (144A) (EUR) | 1000000 | &nbsp;&nbsp;&nbsp; 1259396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 04/09/29 (144A) (EUR) | 1000000 | &nbsp;&nbsp;&nbsp; 1144414 |
| Euronext NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 05/30/32 (EUR) | 1100000 | &nbsp;&nbsp;&nbsp; 1276821 |
| Goldman Sachs Finance Corp. International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/15/27 | 1500000 | &nbsp;&nbsp;&nbsp; 2707140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/13/28 | 1400000 | &nbsp;&nbsp;&nbsp; 1455574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/07/30 (EUR) | 1200000 | &nbsp;&nbsp;&nbsp; 1567358 |
| Merrill Lynch BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 04/28/30 (EUR) | 1000000 | &nbsp;&nbsp;&nbsp; 1108898 |
|  |  | &nbsp;&nbsp;&nbsp; 12626131 |
| **Electric — 3.2%** | **Electric — 3.2%** | **Electric — 3.2%** |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/15/26 | 3283000 | &nbsp;&nbsp;&nbsp; 3644130 |
| CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 05/01/28 | 3712000 | &nbsp;&nbsp;&nbsp; 4064640 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/15/26 | 3953000 | &nbsp;&nbsp;&nbsp; 4243546 |
| Evergy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/27 | 3831000 | &nbsp;&nbsp;&nbsp; 4813651 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/31 (144A) | 4096000 | &nbsp;&nbsp;&nbsp; 4419584 |
| Iberdrola Finanzas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 12/07/27 (EUR) | 2000000 | &nbsp;&nbsp;&nbsp; 2948625 |
| PPL Capital Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 03/15/28 | 2503000 | &nbsp;&nbsp;&nbsp; 2857175 |
| Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/15/25 | 5742000 | &nbsp;&nbsp;&nbsp; 6462621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/15/27 (a) | 5276000 | &nbsp;&nbsp;&nbsp; 5864274 |
| WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/01/29 | 5626000 | &nbsp;&nbsp;&nbsp; 6900289 |
|  |  | &nbsp;&nbsp;&nbsp; 46218535 |
| **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** |
| Legrand SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 06/23/33 (EUR) | 2300000 | &nbsp;&nbsp;&nbsp; 2935923 |
| Schneider Electric SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.970%, 11/27/30 (EUR) | 3400000 | &nbsp;&nbsp;&nbsp; 5107388 |
|  |  | &nbsp;&nbsp;&nbsp; 8043311 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| Hon Hai Precision Industry Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/05/26 | 2100000 | &nbsp;&nbsp;&nbsp; $2979900 |
| **Engineering & Construction — 0.9%** | **Engineering & Construction — 0.9%** | **Engineering & Construction — 0.9%** |
| Cellnex Telecom SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 07/05/28 (EUR) | 6100000 | &nbsp;&nbsp;&nbsp; 7489731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 08/11/30 (EUR) | 2600000 | &nbsp;&nbsp;&nbsp; 3237058 |
| Vinci SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 02/18/30 (EUR) | 1900000 | &nbsp;&nbsp;&nbsp; 2317168 |
|  |  | &nbsp;&nbsp;&nbsp; 13043957 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| Snam SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 09/29/28 (EUR) | 1300000 | &nbsp;&nbsp;&nbsp; 2155141 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| Envista Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 08/15/28 | 1346000 | &nbsp;&nbsp;&nbsp; 1267764 |
| **Healthcare-Services — 0.2%** | **Healthcare-Services — 0.2%** | **Healthcare-Services — 0.2%** |
| Fresenius SE & Co. KGaA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/11/28 (EUR) | 2000000 | &nbsp;&nbsp;&nbsp; 2378174 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 05/15/28 (a) | 1706000 | &nbsp;&nbsp;&nbsp; 1746026 |
| **Internet — 3.2%** | **Internet — 3.2%** | **Internet — 3.2%** |
| Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/09/32 (HKD) | 23000000 | &nbsp;&nbsp;&nbsp; 3679669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 06/01/31 | 6892000 | &nbsp;&nbsp;&nbsp; 12660604 |
| Baidu, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 03/12/32 | 6200000 | &nbsp;&nbsp;&nbsp; 6547200 |
| JD.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 06/01/29 | 5951000 | &nbsp;&nbsp;&nbsp; 6379472 |
| Meituan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 04/27/28 | 2900000 | &nbsp;&nbsp;&nbsp; 2850700 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/15/28 (144A) | 2459000 | &nbsp;&nbsp;&nbsp; 2611458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 12/01/28 | 6669000 | &nbsp;&nbsp;&nbsp; 9803430 |
| Weibo Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 12/01/30 | 781000 | &nbsp;&nbsp;&nbsp; 1007490 |
|  |  | &nbsp;&nbsp;&nbsp; 45540023 |
| **Investment Companies — 0.5%** | **Investment Companies — 0.5%** | **Investment Companies — 0.5%** |
| HAT Holdings I LLC/HAT Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/15/28 (144A) | 1181000 | &nbsp;&nbsp;&nbsp; 1475660 |
| Simon Global Development BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/14/26 (EUR) | 2100000 | &nbsp;&nbsp;&nbsp; 3037027 |
| Wendel SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 03/27/26 (EUR) | 2000000 | &nbsp;&nbsp;&nbsp; 2357066 |
|  |  | &nbsp;&nbsp;&nbsp; 6869753 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| JFE Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 09/28/28 (JPY) | 300000000 | &nbsp;&nbsp;&nbsp; 2018460 |

---

**BHFTI-180**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Convertible Bonds—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| Accor SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 12/07/27 (EUR) | 3101600 | &nbsp;&nbsp;&nbsp; $1946914 |
| **Mining — 0.6%** | **Mining — 0.6%** | **Mining — 0.6%** |
| Gold Pole Capital Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 06/25/29 | 5300000 | &nbsp;&nbsp;&nbsp; 9227300 |
| **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** |
| Deep Development Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 05/20/32 (HKD) | 21000000 | &nbsp;&nbsp;&nbsp; 2736332 |
| Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 09/14/30 (EUR) | 2900000 | &nbsp;&nbsp;&nbsp; 3529123 |
|  |  | &nbsp;&nbsp;&nbsp; 6265455 |
| **Real Estate — 0.8%** | **Real Estate — 0.8%** | **Real Estate — 0.8%** |
| Fastighets AB Balder |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/23/28 (EUR) | 1400000 | &nbsp;&nbsp;&nbsp; 1909923 |
| LEG Properties BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 09/04/30 (EUR) | 3200000 | &nbsp;&nbsp;&nbsp; 3671532 |
| TAG Immobilien AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 03/11/31 (EUR) | 1700000 | &nbsp;&nbsp;&nbsp; 2085771 |
| Vonovia SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 05/20/32 (EUR) | 3400000 | &nbsp;&nbsp;&nbsp; 4003971 |
|  |  | &nbsp;&nbsp;&nbsp; 11671197 |
| **Real Estate Investment Trusts — 1.7%** | **Real Estate Investment Trusts — 1.7%** | **Real Estate Investment Trusts — 1.7%** |
| COPT Defense Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/28 (144A) | 1207000 | &nbsp;&nbsp;&nbsp; 1377022 |
| DEXUS Finance Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/24/27 (AUD) | 1700000 | &nbsp;&nbsp;&nbsp; 1228942 |
| Digital Realty Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/29 (144A) | 3184000 | &nbsp;&nbsp;&nbsp; 3343200 |
| Federal Realty OP LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/15/29 (144A) (a) | 1359000 | &nbsp;&nbsp;&nbsp; 1380065 |
| Rexford Industrial Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/15/29 (144A) (a) | 4375000 | &nbsp;&nbsp;&nbsp; 4405625 |
| Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 06/01/26 | 2383000 | &nbsp;&nbsp;&nbsp; 3077644 |
| Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 05/15/28 (144A) | 3243000 | &nbsp;&nbsp;&nbsp; 6067653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 07/15/29 (144A) (a) | 2521000 | &nbsp;&nbsp;&nbsp; 3702088 |
|  |  | &nbsp;&nbsp;&nbsp; 24582239 |
| **Retail — 0.3%** | **Retail — 0.3%** | **Retail — 0.3%** |
| Anllian Capital 2 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/05/29 (EUR) | 3900000 | &nbsp;&nbsp;&nbsp; 4835877 |
| **Semiconductors — 1.1%** | **Semiconductors — 1.1%** | **Semiconductors — 1.1%** |
| SK Hynix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 04/11/30 | 4400000 | &nbsp;&nbsp;&nbsp; 13224200 |
| STMicroelectronics NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/04/27 | 2000000 | &nbsp;&nbsp;&nbsp; 1963123 |
|  |  | &nbsp;&nbsp;&nbsp; 15187323 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software — 0.7%** | **Software — 0.7%** | **Software — 0.7%** |
| Akamai Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 05/15/33 (144A) | 1324000 | &nbsp;&nbsp;&nbsp; $1328634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 09/01/27 | 6129000 | &nbsp;&nbsp;&nbsp; 5862389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 02/15/29 | 3007000 | &nbsp;&nbsp;&nbsp; 2820566 |
|  |  | &nbsp;&nbsp;&nbsp; 10011589 |
| **Telecommunications — 0.2%** | **Telecommunications — 0.2%** | **Telecommunications — 0.2%** |
| Xiaomi Best Time International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/17/27 | 2200000 | &nbsp;&nbsp;&nbsp; 3221900 |
| **Water — 0.3%** | **Water — 0.3%** | **Water — 0.3%** |
| American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 06/15/26 (a) | 4456000 | &nbsp;&nbsp;&nbsp; 4462238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Bonds <br>(Cost $246,048,596) <br>|  | &nbsp;&nbsp;&nbsp; 272837806 |
| **Corporate Bonds & Notes—11.5%** | **Corporate Bonds & Notes—11.5%** | **Corporate Bonds & Notes—11.5%** |
| **Aerospace/Defense — 0.2%** | **Aerospace/Defense — 0.2%** | **Aerospace/Defense — 0.2%** |
| BAE Systems PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 02/15/31 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 176002 |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 05/01/26 | 80000 | &nbsp;&nbsp;&nbsp; 79465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 03/01/28 | 100000 | &nbsp;&nbsp;&nbsp; 97624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.825%, 03/01/59 | 79000 | &nbsp;&nbsp;&nbsp; 55875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 08/01/59 | 325000 | &nbsp;&nbsp;&nbsp; 233499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/01/30 | 150000 | &nbsp;&nbsp;&nbsp; 153923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.805%, 05/01/50 | 80000 | &nbsp;&nbsp;&nbsp; 79925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.528%, 05/01/34 | 65000 | &nbsp;&nbsp;&nbsp; 71855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.008%, 05/01/64 | 76000 | &nbsp;&nbsp;&nbsp; 87982 |
| GE Capital Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 05/15/32 | 200000 | &nbsp;&nbsp;&nbsp; 202149 |
| L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/31 | 80000 | &nbsp;&nbsp;&nbsp; 83280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 07/31/33 | 100000 | &nbsp;&nbsp;&nbsp; 104234 |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 11/15/54 | 150000 | &nbsp;&nbsp;&nbsp; 154757 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 09/01/31 | 347000 | &nbsp;&nbsp;&nbsp; 301917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 05/15/45 (a) | 253000 | &nbsp;&nbsp;&nbsp; 213394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/15/40 | 240000 | &nbsp;&nbsp;&nbsp; 231182 |
|  |  | &nbsp;&nbsp;&nbsp; 2327063 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 02/04/32 | 360000 | &nbsp;&nbsp;&nbsp; 316897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 02/04/41 | 274000 | &nbsp;&nbsp;&nbsp; 212379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/06/30 | 160000 | &nbsp;&nbsp;&nbsp; 160619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/06/35 | 210000 | &nbsp;&nbsp;&nbsp; 218009 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.734%, 09/25/40 | 229000 | &nbsp;&nbsp;&nbsp; 184708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, 08/15/37 | 151000 | &nbsp;&nbsp;&nbsp; 138469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.540%, 08/15/47 | 141000 | &nbsp;&nbsp;&nbsp; 118234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.834%, 02/20/31 | 89000 | &nbsp;&nbsp;&nbsp; 94132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.079%, 08/02/43 | 234000 | &nbsp;&nbsp;&nbsp; 264814 |

---

**BHFTI-181**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agriculture—(Continued)** | **Agriculture—(Continued)** | **Agriculture—(Continued)** |
| Bunge Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 04/21/31 | 200000 | &nbsp;&nbsp;&nbsp; $187308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 09/17/34 | 76000 | &nbsp;&nbsp;&nbsp; 74503 |
| Imperial Brands Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/30 (144A) | 560000 | &nbsp;&nbsp;&nbsp; 580966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/01/34 (144A) | 440000 | &nbsp;&nbsp;&nbsp; 460496 |
| Japan Tobacco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 06/15/35 (144A) | 205000 | &nbsp;&nbsp;&nbsp; 218294 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/21/42 | 59000 | &nbsp;&nbsp;&nbsp; 48981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/01/31 | 545000 | &nbsp;&nbsp;&nbsp; 554342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/13/31 | 214000 | &nbsp;&nbsp;&nbsp; 221468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/15/33 (a) | 347000 | &nbsp;&nbsp;&nbsp; 362377 |
|  |  | &nbsp;&nbsp;&nbsp; 4416996 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| Air Canada Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 07/15/31 (144A) | 449120 | &nbsp;&nbsp;&nbsp; 423323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 09/15/28 (144A) | 65750 | &nbsp;&nbsp;&nbsp; 64753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 06/15/29 (144A) | 339605 | &nbsp;&nbsp;&nbsp; 332777 |
| American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 12/15/29 | 242800 | &nbsp;&nbsp;&nbsp; 235079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 03/22/29 | 109983 | &nbsp;&nbsp;&nbsp; 107772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 07/15/29 | 77196 | &nbsp;&nbsp;&nbsp; 75253 |
| British Airways Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 06/15/34 (144A) | 95343 | &nbsp;&nbsp;&nbsp; 90139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/20/33 (144A) | 300484 | &nbsp;&nbsp;&nbsp; 289501 |
| Delta Air Lines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 01/30/29 | 73294 | &nbsp;&nbsp;&nbsp; 72250 |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 06/01/29 | 282412 | &nbsp;&nbsp;&nbsp; 276647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 09/01/31 | 45542 | &nbsp;&nbsp;&nbsp; 42780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 02/25/33 | 142753 | &nbsp;&nbsp;&nbsp; 139280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 08/15/38 | 187311 | &nbsp;&nbsp;&nbsp; 192672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/15/38 | 208552 | &nbsp;&nbsp;&nbsp; 212745 |
|  |  | &nbsp;&nbsp;&nbsp; 2554971 |
| **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** |
| BMW U.S. Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 08/11/27 (144A) | 105000 | &nbsp;&nbsp;&nbsp; 105128 |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 02/12/32 | 383000 | &nbsp;&nbsp;&nbsp; 335115 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/08/29 | 405000 | &nbsp;&nbsp;&nbsp; 410991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.532%, 03/19/32 | 200000 | &nbsp;&nbsp;&nbsp; 208111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 06/10/30 | 214000 | &nbsp;&nbsp;&nbsp; 228783 |
| General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/01/49 (a) | 76000 | &nbsp;&nbsp;&nbsp; 74094 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 01/07/35 | 290000 | &nbsp;&nbsp;&nbsp; 299205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/04/34 (a) | 169000 | &nbsp;&nbsp;&nbsp; 175515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 01/07/34 (a) | 169000 | &nbsp;&nbsp;&nbsp; 177669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 07/15/35 | 80000 | &nbsp;&nbsp;&nbsp; 83664 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 09/26/29 (144A) | 100000 | &nbsp;&nbsp;&nbsp; 100198 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** |
| Stellantis Finance U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 03/18/35 (144A) | 600000 | &nbsp;&nbsp;&nbsp; $615040 |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 03/22/27 (144A) | 448000 | &nbsp;&nbsp;&nbsp; 453933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/27/35 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 205068 |
|  |  | &nbsp;&nbsp;&nbsp; 3472514 |
| **Banks — 3.6%** | **Banks — 3.6%** | **Banks — 3.6%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.470%, 1Y H15 + 1.100%, 12/13/29 (144A) (e) | 300000 | &nbsp;&nbsp;&nbsp; 283796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.988%, 1Y H15 + 0.780%, 12/03/28 (144A) (e) | 300000 | &nbsp;&nbsp;&nbsp; 304642 |
| AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, SOFR + 1.650%, 05/15/31 (144A) (e) | 705000 | &nbsp;&nbsp;&nbsp; 725848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.608%, SOFR + 2.330%, 09/13/29 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 212308 |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.381%, 03/13/29 | 400000 | &nbsp;&nbsp;&nbsp; 413218 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 08/08/28 | 400000 | &nbsp;&nbsp;&nbsp; 415522 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.676%, SOFR + 1.930%, 06/19/41 (e) | 202000 | &nbsp;&nbsp;&nbsp; 148857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.687%, SOFR + 1.320%, 04/22/32 (e) | 1040000 | &nbsp;&nbsp;&nbsp; 947419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.846%, 5Y H15 + 2.000%, 03/08/37 (a) (e) | 107000 | &nbsp;&nbsp;&nbsp; 99969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.974%, 3M TSFR + 1.472%, 02/07/30 (e) | 1067000 | &nbsp;&nbsp;&nbsp; 1059127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.571%, SOFR + 1.830%, 04/27/33 (e) | 85000 | &nbsp;&nbsp;&nbsp; 84982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.162%, SOFR + 1.000%, 01/24/31 (a) (e) | 380000 | &nbsp;&nbsp;&nbsp; 392192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.202%, SOFR + 1.630%, 04/25/29 (e) | 898000 | &nbsp;&nbsp;&nbsp; 920507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.464%, SOFR + 1.640%, 05/09/36 (a) (e) | 518000 | &nbsp;&nbsp;&nbsp; 540038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.468%, SOFR + 1.650%, 01/23/35 (e) | 85000 | &nbsp;&nbsp;&nbsp; 88760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.511%, SOFR + 1.310%, 01/24/36 (e) | 240000 | &nbsp;&nbsp;&nbsp; 250875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, SOFR + 1.738%, 10/25/35 (e) | 115000 | &nbsp;&nbsp;&nbsp; 117794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5Y H15 + 2.351%, 07/26/30 (e) | 255000 | &nbsp;&nbsp;&nbsp; 258258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5Y H15 + 2.684%, 05/01/30 (e) | 119000 | &nbsp;&nbsp;&nbsp; 123818 |
| Bank of Ireland Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.029%, 1Y H15 + 1.100%, 09/30/27 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 195456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.601%, SOFR + 1.620%, 03/20/30 (144A) (e) | 460000 | &nbsp;&nbsp;&nbsp; 477045 |
| Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.474%, SOFR + 1.845%, 10/25/34 (e) | 150000 | &nbsp;&nbsp;&nbsp; 167187 |
| Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.538%, 01/22/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 208233 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.785%, SOFR + 1.590%, 02/25/36 (a) (e) | 200000 | &nbsp;&nbsp;&nbsp; 208723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.224%, SOFR + 2.980%, 05/09/34 (e) | 230000 | &nbsp;&nbsp;&nbsp; 247429 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.132%, SOFR + 1.561%, 01/20/33 (144A) (e) | 270000 | &nbsp;&nbsp;&nbsp; 245715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.792%, SOFR + 1.450%, 05/09/29 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 201863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.085%, SOFR + 1.678%, 05/09/31 (144A) (e) | 250000 | &nbsp;&nbsp;&nbsp; 254777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.176%, SOFR + 1.520%, 01/09/30 (144A) (e) | 270000 | &nbsp;&nbsp;&nbsp; 276989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.335%, 1Y H15 + 1.500%, 06/12/29 (144A) (e) | 205000 | &nbsp;&nbsp;&nbsp; 210602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.497%, SOFR + 1.590%, 05/20/30 (144A) (e) | 260000 | &nbsp;&nbsp;&nbsp; 268860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.786%, SOFR + 1.620%, 01/13/33 (144A) (a) (e) | 400000 | &nbsp;&nbsp;&nbsp; 419810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 5Y H15 + 4.899%, 08/16/29 (144A) (e) | 300000 | &nbsp;&nbsp;&nbsp; 317668 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.027%, SOFR + 1.956%, 05/28/36 (144A) (e) | 250000 | &nbsp;&nbsp;&nbsp; 263274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.293%, SOFR + 2.040%, 01/14/36 (144A) (e) | 500000 | &nbsp;&nbsp;&nbsp; 535076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.714%, SOFR + 2.270%, 10/19/29 (144A) (e) | 250000 | &nbsp;&nbsp;&nbsp; 265400 |

---

**BHFTI-182**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.684%, SOFR + 2.080%, 09/13/27 (144A) (e) | 488000 | &nbsp;&nbsp;&nbsp; $498629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.840%, SOFR + 2.770%, 09/13/34 (144A) (e) | 808000 | &nbsp;&nbsp;&nbsp; 900334 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.520%, SOFR + 1.177%, 11/03/32 (e) | 578000 | &nbsp;&nbsp;&nbsp; 513481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.561%, SOFR + 1.167%, 05/01/32 (e) | 240000 | &nbsp;&nbsp;&nbsp; 216312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.980%, 3M TSFR + 1.600%, 03/20/30 (e) | 667000 | &nbsp;&nbsp;&nbsp; 658914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.075%, 3M TSFR + 1.454%, 04/23/29 (e) | 90000 | &nbsp;&nbsp;&nbsp; 89782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.503%, SOFR + 1.171%, 09/11/31 (e) | 319000 | &nbsp;&nbsp;&nbsp; 319172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.542%, SOFR + 1.338%, 09/19/30 (e) | 102000 | &nbsp;&nbsp;&nbsp; 102475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.952%, SOFR + 1.463%, 05/07/31 (e) | 600000 | &nbsp;&nbsp;&nbsp; 611401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.174%, SOFR + 1.488%, 09/11/36 (e) | 450000 | &nbsp;&nbsp;&nbsp; 454567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.333%, SOFR + 1.465%, 03/27/36 (e) | 289000 | &nbsp;&nbsp;&nbsp; 295416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.827%, SOFR + 2.056%, 02/13/35 (e) | 203000 | &nbsp;&nbsp;&nbsp; 210542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5Y H15 + 2.572%, 02/15/30 (e) | 290000 | &nbsp;&nbsp;&nbsp; 294427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y H15 + 2.890%, 08/15/30 (e) | 200000 | &nbsp;&nbsp;&nbsp; 206111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 5Y H15 + 2.726%, 02/15/30 (a) (e) | 187000 | &nbsp;&nbsp;&nbsp; 192050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5Y H15 + 2.693%, 08/15/29 (e) | 329000 | &nbsp;&nbsp;&nbsp; 339897 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.222%, SOFR + 1.460%, 05/27/31 (144A) (e) | 280000 | &nbsp;&nbsp;&nbsp; 287232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.862%, SOFR + 1.740%, 01/09/36 (144A) (e) | 250000 | &nbsp;&nbsp;&nbsp; 262834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 5Y USD SOFR ICE Swap + 3.596%, 09/23/34 <br> (144A) (e)<br>| 210000 | &nbsp;&nbsp;&nbsp; 210821 |
| Danske Bank AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.613%, 1Y H15 + 1.100%, 10/02/30 (144A) (e) | 660000 | &nbsp;&nbsp;&nbsp; 663451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.019%, 1Y H15 + 0.930%, 03/04/31 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 203779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.705%, 1Y H15 + 1.400%, 03/01/30 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 208085 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, SOFR + 1.300%, 08/04/31 (e) | 385000 | &nbsp;&nbsp;&nbsp; 388641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.297%, SOFR + 1.720%, 05/09/31 (a) (e) | 525000 | &nbsp;&nbsp;&nbsp; 537791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.373%, SOFR + 1.210%, 01/10/29 (e) | 155000 | &nbsp;&nbsp;&nbsp; 158332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.819%, SOFR + 2.510%, 11/20/29 (a) (e) | 150000 | &nbsp;&nbsp;&nbsp; 160449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.079%, SOFR + 3.650%, 02/10/34 (e) | 225000 | &nbsp;&nbsp;&nbsp; 247330 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.337%, SOFR + 1.660%, 04/25/33 (a) (e) | 120000 | &nbsp;&nbsp;&nbsp; 116953 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.383%, SOFR + 1.248%, 07/21/32 (e) | 400000 | &nbsp;&nbsp;&nbsp; 356999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.017%, 3M TSFR + 1.635%, 10/31/38 (e) | 322000 | &nbsp;&nbsp;&nbsp; 288621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.411%, 3M TSFR + 1.692%, 04/23/39 (e) | 140000 | &nbsp;&nbsp;&nbsp; 129478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, SOFR + 1.135%, 10/23/30 (e) | 232000 | &nbsp;&nbsp;&nbsp; 234957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.207%, SOFR + 1.078%, 01/28/31 (e) | 305000 | &nbsp;&nbsp;&nbsp; 314846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.218%, SOFR + 1.580%, 04/23/31 (a) (e) | 829000 | &nbsp;&nbsp;&nbsp; 857274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, SOFR + 1.550%, 07/23/35 (e) | 693000 | &nbsp;&nbsp;&nbsp; 713405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.536%, SOFR + 1.380%, 01/28/36 (e) | 91000 | &nbsp;&nbsp;&nbsp; 94990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.484%, SOFR + 1.770%, 10/24/29 (e) | 1448000 | &nbsp;&nbsp;&nbsp; 1540932 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.130%, SOFR + 1.040%, 11/19/28 (e) | 230000 | &nbsp;&nbsp;&nbsp; 234100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.210%, SOFR + 2.610%, 08/11/28 (e) | 310000 | &nbsp;&nbsp;&nbsp; 315295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.240%, SOFR + 1.570%, 05/13/31 (e) | 1250000 | &nbsp;&nbsp;&nbsp; 1286313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.286%, SOFR + 1.290%, 11/19/30 (e) | 630000 | &nbsp;&nbsp;&nbsp; 649847 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, SOFR + 1.276%, 01/15/31 (e) | 50000 | &nbsp;&nbsp;&nbsp; 51533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, SOFR + 1.870%, 02/02/35 (e) | 200000 | &nbsp;&nbsp;&nbsp; 208455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.208%, SOFR + 2.020%, 08/21/29 (e) | 154000 | &nbsp;&nbsp;&nbsp; 162075 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.163%, SOFR + 1.010%, 03/25/29 (e) | 355000 | &nbsp;&nbsp;&nbsp; 356759 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1Y H15 + 2.750%, 06/01/42 (144A) (e) | 435000 | &nbsp;&nbsp;&nbsp; $367890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 11/28/33 (144A) | 250000 | &nbsp;&nbsp;&nbsp; 284898 |
| KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.454%, 1Y H15 + 0.850%, 09/23/31 (144A) (e) | 400000 | &nbsp;&nbsp;&nbsp; 397882 |
| KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 04/13/29 | 339000 | &nbsp;&nbsp;&nbsp; 331658 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.789%, SOFR + 2.060%, 06/01/33 (e) | 256000 | &nbsp;&nbsp;&nbsp; 255134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.121%, SOFR + 1.227%, 04/04/31 (a) (e) | 85000 | &nbsp;&nbsp;&nbsp; 87277 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.833%, SOFR + 0.930%, 01/16/29 (e) | 33000 | &nbsp;&nbsp;&nbsp; 33409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.179%, SOFR + 1.400%, 07/08/31 (e) | 119000 | &nbsp;&nbsp;&nbsp; 121869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.385%, SOFR + 1.610%, 01/16/36 (e) | 125000 | &nbsp;&nbsp;&nbsp; 126725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.082%, SOFR + 2.260%, 03/13/32 (e) | 275000 | &nbsp;&nbsp;&nbsp; 292224 |
| Mellon Capital IV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.830%, 3M TSFR + 0.827%, 10/30/25 (e) | 72000 | &nbsp;&nbsp;&nbsp; 61628 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.527%, 1Y H15 + 0.800%, 09/12/31 (e) | 270000 | &nbsp;&nbsp;&nbsp; 271028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.159%, 1Y H15 + 1.170%, 04/24/31 (e) | 200000 | &nbsp;&nbsp;&nbsp; 206082 |
| Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.869%, 3M TSFR + 1.572%, 09/13/30 (e) | 200000 | &nbsp;&nbsp;&nbsp; 189311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.323%, 1Y H15 + 1.070%, 07/08/36 (e) | 200000 | &nbsp;&nbsp;&nbsp; 205587 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.794%, SOFR + 1.034%, 02/13/32 (e) | 440000 | &nbsp;&nbsp;&nbsp; 383758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.484%, SOFR + 1.360%, 09/16/36 (e) | 778000 | &nbsp;&nbsp;&nbsp; 675792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.511%, SOFR + 1.200%, 10/20/32 (a) (e) | 338000 | &nbsp;&nbsp;&nbsp; 301549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.654%, SOFR + 1.100%, 10/18/30 (a) (e) | 364000 | &nbsp;&nbsp;&nbsp; 367979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.042%, SOFR + 1.215%, 07/19/30 (e) | 219000 | &nbsp;&nbsp;&nbsp; 224445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.192%, SOFR + 1.510%, 04/17/31 (e) | 198000 | &nbsp;&nbsp;&nbsp; 204453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.230%, SOFR + 1.108%, 01/15/31 (e) | 280000 | &nbsp;&nbsp;&nbsp; 289002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, SOFR + 1.555%, 07/19/35 (e) | 65000 | &nbsp;&nbsp;&nbsp; 67070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, SOFR + 1.730%, 01/18/35 (e) | 222000 | &nbsp;&nbsp;&nbsp; 231223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.516%, SOFR + 1.710%, 11/19/55 (e) | 205000 | &nbsp;&nbsp;&nbsp; 207220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, SOFR + 1.260%, 04/18/30 (a) (e) | 280000 | &nbsp;&nbsp;&nbsp; 292380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.664%, SOFR + 1.757%, 04/17/36 (e) | 578000 | &nbsp;&nbsp;&nbsp; 609825 |
| Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.504%, SOFR + 0.865%, 05/26/28 (e) | 500000 | &nbsp;&nbsp;&nbsp; 511020 |
| Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.734%, SOFR + 1.080%, 07/18/31 (e) | 285000 | &nbsp;&nbsp;&nbsp; 289256 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.076%, 01/27/30 (a) | 200000 | &nbsp;&nbsp;&nbsp; 204267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5Y H15 + 5.625%, 12/29/25 (e) | 295000 | &nbsp;&nbsp;&nbsp; 295342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 5Y H15 + 3.752%, 11/10/33 (e) | 200000 | &nbsp;&nbsp;&nbsp; 225151 |
| NatWest Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 03/21/30 (144A) | 260000 | &nbsp;&nbsp;&nbsp; 266964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.410%, 05/17/29 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 207444 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 5Y H15 + 2.595%, 09/15/26 (e) | 7000 | &nbsp;&nbsp;&nbsp; 6785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, SOFR + 1.259%, 10/21/32 (e) | 178000 | &nbsp;&nbsp;&nbsp; 180449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.899%, SOFR + 1.333%, 05/13/31 (e) | 95000 | &nbsp;&nbsp;&nbsp; 97013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.068%, SOFR + 1.933%, 01/24/34 (e) | 209000 | &nbsp;&nbsp;&nbsp; 213256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.373%, SOFR + 1.417%, 07/21/36 (e) | 95000 | &nbsp;&nbsp;&nbsp; 97761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7Y H15 + 2.808%, 03/15/30 (e) | 134000 | &nbsp;&nbsp;&nbsp; 137498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, SOFR + 2.284%, 10/20/34 (e) | 279000 | &nbsp;&nbsp;&nbsp; 316094 |

---

**BHFTI-183**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, SOFR + 1.080%, 10/18/30 (e) | 100000 | &nbsp;&nbsp;&nbsp; $101147 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.174%, SOFR + 2.500%, 01/09/30 (e) | 215000 | &nbsp;&nbsp;&nbsp; 223949 |
| Santander U.K. Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.858%, SOFR + 1.554%, 09/11/30 (e) | 635000 | &nbsp;&nbsp;&nbsp; 642217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.694%, SOFR + 1.524%, 04/15/31 (e) | 300000 | &nbsp;&nbsp;&nbsp; 312986 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/19/27 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 202163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, SOFR + 1.730%, 10/03/36 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 199482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.512%, SOFR + 1.650%, 05/22/31 (144A) (e) | 515000 | &nbsp;&nbsp;&nbsp; 529759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.446%, 1Y H15 + 2.550%, 01/10/29 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 208231 |
| Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.018%, 1Y H15 + 2.200%, 02/08/30 (144A) (e) | 585000 | &nbsp;&nbsp;&nbsp; 631114 |
| State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.834%, 04/24/30 | 105000 | &nbsp;&nbsp;&nbsp; 107794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 5Y H15 + 2.613%, 03/15/29 (e) | 77000 | &nbsp;&nbsp;&nbsp; 80086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 5Y H15 + 2.628%, 09/15/29 (e) | 249000 | &nbsp;&nbsp;&nbsp; 259988 |
| Svenska Handelsbanken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/28 (144A) | 404000 | &nbsp;&nbsp;&nbsp; 418571 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.298%, 01/30/32 | 235000 | &nbsp;&nbsp;&nbsp; 245430 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.122%, SOFR + 1.852%, 01/26/34 (e) | 520000 | &nbsp;&nbsp;&nbsp; 528320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.161%, SOFR + 2.446%, 10/30/29 (e) | 155000 | &nbsp;&nbsp;&nbsp; 167881 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.083%, SOFR + 1.296%, 05/15/31 (a) (e) | 215000 | &nbsp;&nbsp;&nbsp; 221090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.836%, SOFR + 2.260%, 06/12/34 (e) | 258000 | &nbsp;&nbsp;&nbsp; 274922 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.398%, SOFR + 1.060%, 09/23/31 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 199321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, SOFR + 1.340%, 03/23/37 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 199036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 5Y H15 + 4.745%, 11/13/28 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 220303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 5Y H15 + 4.758%, 11/13/33 (144A) (e) | 200000 | &nbsp;&nbsp;&nbsp; 238173 |
| UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.982%, 1Y H15 + 1.200%, 06/03/27 (144A) (e) | 521000 | &nbsp;&nbsp;&nbsp; 512786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.127%, 1Y H15 + 1.550%, 06/03/32 (144A) (e) | 291000 | &nbsp;&nbsp;&nbsp; 268138 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5Y H15 + 3.453%, 03/15/26 (e) | 204000 | &nbsp;&nbsp;&nbsp; 202019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.892%, SOFR + 1.340%, 09/15/36 (e) | 280000 | &nbsp;&nbsp;&nbsp; 279440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, SOFR + 1.500%, 04/23/31 (e) | 559000 | &nbsp;&nbsp;&nbsp; 576497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, SOFR + 1.500%, 01/23/30 (e) | 150000 | &nbsp;&nbsp;&nbsp; 154485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.211%, SOFR + 1.380%, 12/03/35 (e) | 175000 | &nbsp;&nbsp;&nbsp; 178805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.244%, SOFR + 1.110%, 01/24/31 (a) (e) | 335000 | &nbsp;&nbsp;&nbsp; 346594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.557%, SOFR + 1.990%, 07/25/34 (a) (e) | 1116000 | &nbsp;&nbsp;&nbsp; 1172248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.574%, SOFR + 1.740%, 07/25/29 (e) | 1111000 | &nbsp;&nbsp;&nbsp; 1151387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.605%, SOFR + 1.740%, 04/23/36 (e) | 1205000 | &nbsp;&nbsp;&nbsp; 1264589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.707%, SOFR + 1.070%, 04/22/28 (e) | 311000 | &nbsp;&nbsp;&nbsp; 318226 |
|  |  | &nbsp;&nbsp;&nbsp; 52069899 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 02/01/36 | 389000 | &nbsp;&nbsp;&nbsp; 384060 |
| Anheuser-Busch InBev Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 02/01/36 | 440000 | &nbsp;&nbsp;&nbsp; 434413 |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 01/23/59 | 13000 | &nbsp;&nbsp;&nbsp; 13551 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Beverages—(Continued)** | **Beverages—(Continued)** | **Beverages—(Continued)** |
| Coca-Cola Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/01/40 | 61000 | &nbsp;&nbsp;&nbsp; $45377 |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/01/30 | 220000 | &nbsp;&nbsp;&nbsp; 205843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 05/01/33 (a) | 92000 | &nbsp;&nbsp;&nbsp; 92860 |
| Keurig Dr. Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 03/15/51 | 82000 | &nbsp;&nbsp;&nbsp; 54224 |
| Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 07/15/46 | 56000 | &nbsp;&nbsp;&nbsp; 45622 |
|  |  | &nbsp;&nbsp;&nbsp; 1275950 |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 02/21/30 (a) | 221000 | &nbsp;&nbsp;&nbsp; 204715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 02/21/40 | 47000 | &nbsp;&nbsp;&nbsp; 36992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 02/22/52 | 320000 | &nbsp;&nbsp;&nbsp; 256350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.663%, 06/15/51 | 45000 | &nbsp;&nbsp;&nbsp; 39310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/01/53 (a) | 100000 | &nbsp;&nbsp;&nbsp; 89183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 03/02/53 | 249000 | &nbsp;&nbsp;&nbsp; 248363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/02/63 | 156000 | &nbsp;&nbsp;&nbsp; 155630 |
| Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 05/01/30 | 771000 | &nbsp;&nbsp;&nbsp; 703423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/35 (a) | 245000 | &nbsp;&nbsp;&nbsp; 256747 |
| Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 10/01/40 | 344000 | &nbsp;&nbsp;&nbsp; 252565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/15/33 | 296000 | &nbsp;&nbsp;&nbsp; 310419 |
|  |  | &nbsp;&nbsp;&nbsp; 2553697 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| CF Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 06/01/43 | 37000 | &nbsp;&nbsp;&nbsp; 34035 |
| Dow Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/15/42 | 79000 | &nbsp;&nbsp;&nbsp; 64389 |
| DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.319%, 11/15/38 | 331000 | &nbsp;&nbsp;&nbsp; 339115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.419%, 11/15/48 | 75000 | &nbsp;&nbsp;&nbsp; 74148 |
| EIDP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/15/32 | 245000 | &nbsp;&nbsp;&nbsp; 252010 |
| Nutrien Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/49 | 75000 | &nbsp;&nbsp;&nbsp; 68428 |
|  |  | &nbsp;&nbsp;&nbsp; 832125 |
| **Commercial Services — 0.1%** | **Commercial Services — 0.1%** | **Commercial Services — 0.1%** |
| Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 03/25/30 (144A) | 50000 | &nbsp;&nbsp;&nbsp; 51003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 12/04/28 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 158856 |
| Ford Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.815%, 06/01/70 | 55000 | &nbsp;&nbsp;&nbsp; 31759 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 11/15/31 | 83000 | &nbsp;&nbsp;&nbsp; 74429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 08/15/29 | 384000 | &nbsp;&nbsp;&nbsp; 364679 |
| Pepperdine University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.301%, 12/01/59 | 100000 | &nbsp;&nbsp;&nbsp; 62399 |
| Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 01/15/32 | 115000 | &nbsp;&nbsp;&nbsp; 100940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/01/30 | 70000 | &nbsp;&nbsp;&nbsp; 65348 |

---

**BHFTI-184**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Services—(Continued)** | **Commercial Services—(Continued)** | **Commercial Services—(Continued)** |
| Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/15/31 | 295000 | &nbsp;&nbsp;&nbsp; $294822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 08/09/35 | 250000 | &nbsp;&nbsp;&nbsp; 250642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/09/34 | 306000 | &nbsp;&nbsp;&nbsp; 313712 |
| University of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.226%, 10/01/2120 | 100000 | &nbsp;&nbsp;&nbsp; 58891 |
|  |  | &nbsp;&nbsp;&nbsp; 1827480 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/04/31 (a) | 133000 | &nbsp;&nbsp;&nbsp; 132801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/04/34 | 45000 | &nbsp;&nbsp;&nbsp; 44380 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 02/08/51 | 185000 | &nbsp;&nbsp;&nbsp; 118030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 08/05/51 | 352000 | &nbsp;&nbsp;&nbsp; 224654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 09/11/49 | 120000 | &nbsp;&nbsp;&nbsp; 82144 |
| Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 04/01/32 | 185000 | &nbsp;&nbsp;&nbsp; 190987 |
| Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/30 | 497000 | &nbsp;&nbsp;&nbsp; 495439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 03/15/32 | 144000 | &nbsp;&nbsp;&nbsp; 149599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/15/33 | 90000 | &nbsp;&nbsp;&nbsp; 95056 |
|  |  | &nbsp;&nbsp;&nbsp; 1533090 |
| **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** |
| Kenvue, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 03/22/63 | 76000 | &nbsp;&nbsp;&nbsp; 70490 |
| **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/29/28 | 705000 | &nbsp;&nbsp;&nbsp; 679403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 09/10/29 | 150000 | &nbsp;&nbsp;&nbsp; 151314 |
| Aircastle Ltd./Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/15/30 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 153019 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.731%, SOFR + 1.260%, 04/25/29 (e) | 98000 | &nbsp;&nbsp;&nbsp; 99545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.918%, SOFR + 1.220%, 07/20/33 (e) | 100000 | &nbsp;&nbsp;&nbsp; 101741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.442%, SOFR + 1.320%, 01/30/36 (e) | 80000 | &nbsp;&nbsp;&nbsp; 83206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.667%, SOFR + 1.790%, 04/25/36 (e) | 80000 | &nbsp;&nbsp;&nbsp; 84520 |
| Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/10/30 (144A) | 65000 | &nbsp;&nbsp;&nbsp; 65986 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.528%, 11/18/27 (144A) | 138000 | &nbsp;&nbsp;&nbsp; 132681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/15/26 (144A) | 105000 | &nbsp;&nbsp;&nbsp; 104813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/26 (144A) | 305000 | &nbsp;&nbsp;&nbsp; 304795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 01/15/30 (144A) | 577000 | &nbsp;&nbsp;&nbsp; 585266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/30/30 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 338509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/26 (144A) | 185000 | &nbsp;&nbsp;&nbsp; 185245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/29 (144A) | 90000 | &nbsp;&nbsp;&nbsp; 93497 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.197%, SOFR + 1.630%, 09/11/36 (e) | 95000 | &nbsp;&nbsp;&nbsp; 93955 |
| Macquarie Airfinance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 03/17/30 (144A) | 45000 | &nbsp;&nbsp;&nbsp; 45629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 03/27/28 (144A) | 110000 | &nbsp;&nbsp;&nbsp; 111875 |
|  |  | &nbsp;&nbsp;&nbsp; 3414999 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric — 1.4%** | **Electric — 1.4%** | **Electric — 1.4%** |
| AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 06/01/28 (a) | 180000 | &nbsp;&nbsp;&nbsp; $184357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/15/32 | 195000 | &nbsp;&nbsp;&nbsp; 201842 |
| Alliant Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5Y H15 + 2.077%, 04/01/56 (e) | 80000 | &nbsp;&nbsp;&nbsp; 80100 |
| Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/15/35 | 320000 | &nbsp;&nbsp;&nbsp; 328554 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 01/15/44 | 50000 | &nbsp;&nbsp;&nbsp; 43583 |
| Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 06/15/50 | 106000 | &nbsp;&nbsp;&nbsp; 68992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 09/15/49 | 66000 | &nbsp;&nbsp;&nbsp; 45583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 06/01/53 | 85000 | &nbsp;&nbsp;&nbsp; 83436 |
| Cleveland Electric Illuminating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 11/15/30 (144A) | 60000 | &nbsp;&nbsp;&nbsp; 59402 |
| CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 1.961%, 06/01/55 (a) (e) | 125000 | &nbsp;&nbsp;&nbsp; 129419 |
| Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/01/45 | 71000 | &nbsp;&nbsp;&nbsp; 56231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 01/15/44 | 133000 | &nbsp;&nbsp;&nbsp; 121655 |
| Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 12/01/48 (a) | 30000 | &nbsp;&nbsp;&nbsp; 26563 |
| Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 06/15/42 | 42000 | &nbsp;&nbsp;&nbsp; 42567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/01/41 | 120000 | &nbsp;&nbsp;&nbsp; 123177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/53 | 180000 | &nbsp;&nbsp;&nbsp; 200597 |
| Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 05/15/43 | 147000 | &nbsp;&nbsp;&nbsp; 122229 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 04/15/41 | 190000 | &nbsp;&nbsp;&nbsp; 144762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 12/01/44 | 71000 | &nbsp;&nbsp;&nbsp; 62333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 08/01/41 | 147000 | &nbsp;&nbsp;&nbsp; 136074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5Y H15 + 2.262%, 02/15/56 (e) | 202000 | &nbsp;&nbsp;&nbsp; 203445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y H15 + 2.386%, 02/01/55 (e) | 80000 | &nbsp;&nbsp;&nbsp; 83734 |
| DTE Electric Securitization Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.090%, 09/01/38 | 250000 | &nbsp;&nbsp;&nbsp; 270364 |
| DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 10/01/35 | 198000 | &nbsp;&nbsp;&nbsp; 196687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 04/01/30 | 385000 | &nbsp;&nbsp;&nbsp; 396706 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/30/42 | 303000 | &nbsp;&nbsp;&nbsp; 257192 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 09/15/55 | 159000 | &nbsp;&nbsp;&nbsp; 158422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 09/15/53 | 210000 | &nbsp;&nbsp;&nbsp; 221039 |
| Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/15/46 | 77000 | &nbsp;&nbsp;&nbsp; 60743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/34 | 154000 | &nbsp;&nbsp;&nbsp; 158890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 04/01/53 | 115000 | &nbsp;&nbsp;&nbsp; 112531 |
| Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 06/15/35 | 310000 | &nbsp;&nbsp;&nbsp; 319675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 03/15/54 | 103000 | &nbsp;&nbsp;&nbsp; 102890 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 03/15/55 (a) | 8000 | &nbsp;&nbsp;&nbsp; 8032 |
| Duquesne Light Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.616%, 08/01/27 (144A) | 319000 | &nbsp;&nbsp;&nbsp; 312467 |

---

**BHFTI-185**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/15/32 | 142000 | &nbsp;&nbsp;&nbsp; $140653 |
| Emera U.S. Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.639%, 06/15/31 | 118000 | &nbsp;&nbsp;&nbsp; 105335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/46 | 291000 | &nbsp;&nbsp;&nbsp; 251093 |
| Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/12/31 (144A) | 455000 | &nbsp;&nbsp;&nbsp; 406263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 09/30/28 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 199436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/30/35 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 197083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/26/29 (144A) (a) | 225000 | &nbsp;&nbsp;&nbsp; 230494 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/01/54 | 62000 | &nbsp;&nbsp;&nbsp; 63474 |
| Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5Y H15 + 2.670%, 12/01/54 (e) | 298000 | &nbsp;&nbsp;&nbsp; 311380 |
| Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 01/15/45 | 152000 | &nbsp;&nbsp;&nbsp; 139930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/15/54 | 150000 | &nbsp;&nbsp;&nbsp; 151368 |
| Entergy Mississippi LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/33 | 280000 | &nbsp;&nbsp;&nbsp; 285003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 04/15/55 | 222000 | &nbsp;&nbsp;&nbsp; 227427 |
| Entergy Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 06/01/45 | 10000 | &nbsp;&nbsp;&nbsp; 9503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 09/15/54 | 36000 | &nbsp;&nbsp;&nbsp; 35364 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 1.975%, 03/15/55 (e) | 115000 | &nbsp;&nbsp;&nbsp; 120198 |
| FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 04/01/49 (144A) | 166000 | &nbsp;&nbsp;&nbsp; 141703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 07/15/44 (144A) | 49000 | &nbsp;&nbsp;&nbsp; 47851 |
| ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 05/14/30 (144A) | 790000 | &nbsp;&nbsp;&nbsp; 740376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 06/01/33 (144A) | 288000 | &nbsp;&nbsp;&nbsp; 298132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 05/09/34 (144A) | 173000 | &nbsp;&nbsp;&nbsp; 180126 |
| Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 01/15/35 | 25000 | &nbsp;&nbsp;&nbsp; 25337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 06/01/37 | 100000 | &nbsp;&nbsp;&nbsp; 108505 |
| Monongahela Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 02/15/34 (144A) | 248000 | &nbsp;&nbsp;&nbsp; 262113 |
| Nevada Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5Y H15 + 1.936%, 05/15/55 (e) | 430000 | &nbsp;&nbsp;&nbsp; 436063 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 03/15/55 | 310000 | &nbsp;&nbsp;&nbsp; 319482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y H15 + 2.053%, 08/15/55 (a) (e) | 217000 | &nbsp;&nbsp;&nbsp; 225324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5Y H15 + 2.457%, 06/15/54 (e) | 125000 | &nbsp;&nbsp;&nbsp; 134341 |
| Niagara Mohawk Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.996%, 07/03/55 (144A) | 45000 | &nbsp;&nbsp;&nbsp; 46437 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 06/15/29 (144A) | 348000 | &nbsp;&nbsp;&nbsp; 345073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.734%, 10/15/30 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 149953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.407%, 10/15/35 (144A) | 120000 | &nbsp;&nbsp;&nbsp; 120408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/15/33 (144A) | 128000 | &nbsp;&nbsp;&nbsp; 141529 |
| Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/01/51 | 115000 | &nbsp;&nbsp;&nbsp; 71557 |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 06/01/31 | 222000 | &nbsp;&nbsp;&nbsp; 204139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/15/42 | 37000 | &nbsp;&nbsp;&nbsp; 28153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/01/47 | 159000 | &nbsp;&nbsp;&nbsp; 118828 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/15/46 | 82000 | &nbsp;&nbsp;&nbsp; $64327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 03/15/45 | 60000 | &nbsp;&nbsp;&nbsp; 48137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 07/01/30 | 71744 | &nbsp;&nbsp;&nbsp; 71246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 06/15/43 | 178000 | &nbsp;&nbsp;&nbsp; 149834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 05/15/29 | 91000 | &nbsp;&nbsp;&nbsp; 93670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/01/35 | 175000 | &nbsp;&nbsp;&nbsp; 179257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 05/15/34 | 12000 | &nbsp;&nbsp;&nbsp; 12434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/35 | 290000 | &nbsp;&nbsp;&nbsp; 303508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 01/15/29 | 253000 | &nbsp;&nbsp;&nbsp; 264665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 06/15/33 | 276000 | &nbsp;&nbsp;&nbsp; 296685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/53 | 10000 | &nbsp;&nbsp;&nbsp; 10774 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 06/15/52 | 122000 | &nbsp;&nbsp;&nbsp; 74399 |
| PG&E Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.231%, 06/01/42 | 575000 | &nbsp;&nbsp;&nbsp; 588094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.536%, 07/15/49 | 135000 | &nbsp;&nbsp;&nbsp; 136300 |
| PG&E Wildfire Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.263%, 06/01/38 | 65000 | &nbsp;&nbsp;&nbsp; 62038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.099%, 06/01/54 | 165000 | &nbsp;&nbsp;&nbsp; 156504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.212%, 12/01/49 | 85000 | &nbsp;&nbsp;&nbsp; 82171 |
| Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/52 | 57000 | &nbsp;&nbsp;&nbsp; 47978 |
| Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 01/15/35 | 20000 | &nbsp;&nbsp;&nbsp; 20247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 01/15/36 | 445000 | &nbsp;&nbsp;&nbsp; 454554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/37 | 100000 | &nbsp;&nbsp;&nbsp; 111367 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.224%, 03/15/32 | 422000 | &nbsp;&nbsp;&nbsp; 404141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.725%, 03/15/35 | 113000 | &nbsp;&nbsp;&nbsp; 116607 |
| Puget Sound Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.638%, 04/15/41 | 71000 | &nbsp;&nbsp;&nbsp; 71624 |
| San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 08/15/51 | 230000 | &nbsp;&nbsp;&nbsp; 149967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 04/01/53 | 420000 | &nbsp;&nbsp;&nbsp; 403707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 04/15/35 | 250000 | &nbsp;&nbsp;&nbsp; 258179 |
| SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.697%, 06/15/42 | 144193 | &nbsp;&nbsp;&nbsp; 142110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.112%, 12/14/49 | 65000 | &nbsp;&nbsp;&nbsp; 62679 |
| Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y H15 + 2.632%, 04/01/56 (e) | 68000 | &nbsp;&nbsp;&nbsp; 69785 |
| Sierra Pacific Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 5Y H15 + 2.549%, 12/15/55 (e) | 95000 | &nbsp;&nbsp;&nbsp; 95084 |
| Sigeco Securitization I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.026%, 11/15/38 | 133736 | &nbsp;&nbsp;&nbsp; 137307 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 03/01/28 | 78000 | &nbsp;&nbsp;&nbsp; 76650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 03/15/43 | 122000 | &nbsp;&nbsp;&nbsp; 95460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 03/15/42 | 150000 | &nbsp;&nbsp;&nbsp; 120309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 06/01/34 | 449000 | &nbsp;&nbsp;&nbsp; 446314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/15/30 | 116000 | &nbsp;&nbsp;&nbsp; 118282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/01/53 | 65000 | &nbsp;&nbsp;&nbsp; 61037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/53 | 179000 | &nbsp;&nbsp;&nbsp; 172874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 03/01/55 | 60000 | &nbsp;&nbsp;&nbsp; 58227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 02/01/38 | 91000 | &nbsp;&nbsp;&nbsp; 92786 |

---

**BHFTI-186**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 06/15/33 | 120000 | &nbsp;&nbsp;&nbsp; $123367 |
| Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/01/30 | 85000 | &nbsp;&nbsp;&nbsp; 84487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/01/35 | 169000 | &nbsp;&nbsp;&nbsp; 166668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 12/15/46 | 214000 | &nbsp;&nbsp;&nbsp; 192042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 09/15/41 (a) | 100000 | &nbsp;&nbsp;&nbsp; 95991 |
| Tucson Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 08/01/30 | 78000 | &nbsp;&nbsp;&nbsp; 68170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 12/01/48 | 150000 | &nbsp;&nbsp;&nbsp; 133601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/53 | 235000 | &nbsp;&nbsp;&nbsp; 229596 |
| Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 04/01/34 | 137000 | &nbsp;&nbsp;&nbsp; 141146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/15/54 | 89000 | &nbsp;&nbsp;&nbsp; 85075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 03/15/53 | 140000 | &nbsp;&nbsp;&nbsp; 137139 |
| Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 12/15/50 | 250000 | &nbsp;&nbsp;&nbsp; 145542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 08/15/43 | 60000 | &nbsp;&nbsp;&nbsp; 54362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 03/15/55 | 160000 | &nbsp;&nbsp;&nbsp; 160931 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 12/30/34 (144A) | 42000 | &nbsp;&nbsp;&nbsp; 43462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/34 (144A) | 172000 | &nbsp;&nbsp;&nbsp; 181341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 10/15/33 (144A) | 114000 | &nbsp;&nbsp;&nbsp; 127149 |
|  |  | &nbsp;&nbsp;&nbsp; 20695094 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/54 | 90000 | &nbsp;&nbsp;&nbsp; 86627 |
| **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/28 (144A) | 445000 | &nbsp;&nbsp;&nbsp; 434050 |
| Veralto Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 09/18/28 | 140000 | &nbsp;&nbsp;&nbsp; 144481 |
|  |  | &nbsp;&nbsp;&nbsp; 578531 |
| **Food — 0.2%** | **Food — 0.2%** | **Food — 0.2%** |
| Bimbo Bakeries USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/09/36 (144A) | 366000 | &nbsp;&nbsp;&nbsp; 371480 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/32 | 289000 | &nbsp;&nbsp;&nbsp; 258561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/01/31 | 85000 | &nbsp;&nbsp;&nbsp; 80299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/02/52 | 85000 | &nbsp;&nbsp;&nbsp; 66828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/34 | 75000 | &nbsp;&nbsp;&nbsp; 82913 |
| &nbsp;&nbsp;&nbsp;&nbsp; JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, <br> Inc./JBS USA Food Co.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/36 (144A) | 380000 | &nbsp;&nbsp;&nbsp; 388060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/15/66 (144A) | 170000 | &nbsp;&nbsp;&nbsp; 174767 |
| JBS USA Lux SARL/JBS USA Food Co./JBS USA Foods Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/20/35 (144A) | 128000 | &nbsp;&nbsp;&nbsp; 134464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/25/55 (144A) (a) | 75000 | &nbsp;&nbsp;&nbsp; 78090 |
| Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/01/46 | 155000 | &nbsp;&nbsp;&nbsp; 128989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/01/39 | 60000 | &nbsp;&nbsp;&nbsp; 54704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/50 (a) | 155000 | &nbsp;&nbsp;&nbsp; 146404 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Food—(Continued)** | **Food—(Continued)** | **Food—(Continued)** |
| Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/34 | 30000 | &nbsp;&nbsp;&nbsp; $30255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 07/15/40 | 141000 | &nbsp;&nbsp;&nbsp; 141040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/15/54 (a) | 30000 | &nbsp;&nbsp;&nbsp; 29240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 09/15/64 | 196000 | &nbsp;&nbsp;&nbsp; 191185 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/32 (144A) (a) | 140000 | &nbsp;&nbsp;&nbsp; 143229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 03/01/35 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 204427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 05/01/45 (144A) | 248000 | &nbsp;&nbsp;&nbsp; 251578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 05/01/55 (144A) | 295000 | &nbsp;&nbsp;&nbsp; 298819 |
| Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/15/34 | 70000 | &nbsp;&nbsp;&nbsp; 73761 |
|  |  | &nbsp;&nbsp;&nbsp; 3329093 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| APA Infrastructure Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/16/34 (144A) (a) | 107000 | &nbsp;&nbsp;&nbsp; 108443 |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 5Y H15 + 2.451%, 11/30/54 (e) | 120000 | &nbsp;&nbsp;&nbsp; 124876 |
| Piedmont Natural Gas Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 06/01/50 | 143000 | &nbsp;&nbsp;&nbsp; 98795 |
| Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 11/15/52 | 225000 | &nbsp;&nbsp;&nbsp; 245543 |
| Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 09/30/51 | 161000 | &nbsp;&nbsp;&nbsp; 105061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 10/01/46 | 261000 | &nbsp;&nbsp;&nbsp; 206494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 06/01/43 | 345000 | &nbsp;&nbsp;&nbsp; 296485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/33 | 86000 | &nbsp;&nbsp;&nbsp; 91143 |
|  |  | &nbsp;&nbsp;&nbsp; 1276840 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.272%, 12/01/28 | 130000 | &nbsp;&nbsp;&nbsp; 122020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.539%, 02/01/32 | 31000 | &nbsp;&nbsp;&nbsp; 27177 |
| Boston Scientific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 03/01/39 | 60000 | &nbsp;&nbsp;&nbsp; 57247 |
| DH Europe Finance II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/15/39 | 85000 | &nbsp;&nbsp;&nbsp; 69642 |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 03/13/31 | 288000 | &nbsp;&nbsp;&nbsp; 300327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 03/23/34 | 86000 | &nbsp;&nbsp;&nbsp; 89537 |
| Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 09/15/34 | 338000 | &nbsp;&nbsp;&nbsp; 346057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/19/35 (a) | 213000 | &nbsp;&nbsp;&nbsp; 221860 |
|  |  | &nbsp;&nbsp;&nbsp; 1233867 |
| **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** |
| Aetna, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/15/44 | 133000 | &nbsp;&nbsp;&nbsp; 115129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/15/37 | 50000 | &nbsp;&nbsp;&nbsp; 55272 |
| AHS Hospital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.024%, 07/01/45 | 110000 | &nbsp;&nbsp;&nbsp; 105061 |
| Children's Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.928%, 07/15/50 | 100000 | &nbsp;&nbsp;&nbsp; 64645 |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/15/30 | 165000 | &nbsp;&nbsp;&nbsp; 165486 |

---

**BHFTI-187**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/15/36 | 145000 | &nbsp;&nbsp;&nbsp; $146848 |
| CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.782%, 10/01/30 | 70000 | &nbsp;&nbsp;&nbsp; 64692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.910%, 10/01/50 | 65000 | &nbsp;&nbsp;&nbsp; 48731 |
| Cottage Health Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.304%, 11/01/49 | 110000 | &nbsp;&nbsp;&nbsp; 77870 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/15/42 | 178000 | &nbsp;&nbsp;&nbsp; 160482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 01/15/43 | 111000 | &nbsp;&nbsp;&nbsp; 99590 |
| Hartford HealthCare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.447%, 07/01/54 | 240000 | &nbsp;&nbsp;&nbsp; 175508 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/32 | 31000 | &nbsp;&nbsp;&nbsp; 29083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/52 | 57000 | &nbsp;&nbsp;&nbsp; 47068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/32 | 370000 | &nbsp;&nbsp;&nbsp; 385478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 04/01/34 | 330000 | &nbsp;&nbsp;&nbsp; 342568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/01/28 | 480000 | &nbsp;&nbsp;&nbsp; 495279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/01/35 | 74000 | &nbsp;&nbsp;&nbsp; 77365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/01/29 | 614000 | &nbsp;&nbsp;&nbsp; 639271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 09/15/54 | 111000 | &nbsp;&nbsp;&nbsp; 110757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 04/01/64 (a) | 90000 | &nbsp;&nbsp;&nbsp; 90363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 03/01/55 | 39000 | &nbsp;&nbsp;&nbsp; 40259 |
| MyMichigan Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.409%, 06/01/50 | 40000 | &nbsp;&nbsp;&nbsp; 28398 |
| NYU Langone Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.380%, 07/01/55 | 90000 | &nbsp;&nbsp;&nbsp; 62443 |
| Piedmont Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.864%, 01/01/52 | 95000 | &nbsp;&nbsp;&nbsp; 60396 |
| Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/34 | 244000 | &nbsp;&nbsp;&nbsp; 246971 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 05/15/40 | 142000 | &nbsp;&nbsp;&nbsp; 105808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 04/15/53 | 126000 | &nbsp;&nbsp;&nbsp; 115452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 02/15/33 (a) | 233000 | &nbsp;&nbsp;&nbsp; 243530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 04/15/54 | 126000 | &nbsp;&nbsp;&nbsp; 121007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/53 | 90000 | &nbsp;&nbsp;&nbsp; 92528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 02/15/63 | 115000 | &nbsp;&nbsp;&nbsp; 120122 |
| Yale-New Haven Health Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.496%, 07/01/50 | 110000 | &nbsp;&nbsp;&nbsp; 64961 |
|  |  | &nbsp;&nbsp;&nbsp; 4798421 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| MDC Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/43 | 173000 | &nbsp;&nbsp;&nbsp; 164643 |
| **Insurance — 0.3%** | **Insurance — 0.3%** | **Insurance — 0.3%** |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 11/12/26 (144A) | 370000 | &nbsp;&nbsp;&nbsp; 364729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.033%, 07/17/30 (144A) | 455000 | &nbsp;&nbsp;&nbsp; 462276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.543%, 08/22/35 (144A) | 305000 | &nbsp;&nbsp;&nbsp; 309085 |
| Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 03/15/52 | 185000 | &nbsp;&nbsp;&nbsp; 145130 |
| Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5Y H15 + 2.646%, 09/15/54 (e) | 44000 | &nbsp;&nbsp;&nbsp; 45162 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Insurance—(Continued)** | **Insurance—(Continued)** | **Insurance—(Continued)** |
| Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 08/21/32 (144A) | 164000 | &nbsp;&nbsp;&nbsp; $164730 |
| Equitable America Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 09/15/32 (144A) | 305000 | &nbsp;&nbsp;&nbsp; 303390 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/04/29 | 35000 | &nbsp;&nbsp;&nbsp; 36491 |
| F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 06/30/26 (144A) | 80000 | &nbsp;&nbsp;&nbsp; 78432 |
| Guardian Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.673%, 09/05/32 (144A) | 270000 | &nbsp;&nbsp;&nbsp; 271138 |
| Hanover Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/30 | 70000 | &nbsp;&nbsp;&nbsp; 63153 |
| Hartford Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 04/15/43 | 25000 | &nbsp;&nbsp;&nbsp; 21729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 10/01/41 | 25000 | &nbsp;&nbsp;&nbsp; 26546 |
| Nationwide Mutual Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 04/30/50 (144A) | 220000 | &nbsp;&nbsp;&nbsp; 174328 |
| New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 08/07/30 (144A) | 111000 | &nbsp;&nbsp;&nbsp; 96190 |
| New York Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/15/50 (144A) (a) | 107000 | &nbsp;&nbsp;&nbsp; 80790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 05/15/69 (144A) | 137000 | &nbsp;&nbsp;&nbsp; 108846 |
| Northwestern Mutual Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.063%, 03/30/40 (144A) | 230000 | &nbsp;&nbsp;&nbsp; 243678 |
| Pacific Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 10/24/67 (144A) | 97000 | &nbsp;&nbsp;&nbsp; 77814 |
| Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.111%, 02/15/28 (144A) | 121000 | &nbsp;&nbsp;&nbsp; 120658 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 2.404%, 03/15/54 (a) (e) | 115000 | &nbsp;&nbsp;&nbsp; 123062 |
| Teachers Insurance & Annuity Association of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.270%, 05/15/47 (144A) | 100000 | &nbsp;&nbsp;&nbsp; 82975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 12/16/39 (144A) | 316000 | &nbsp;&nbsp;&nbsp; 361915 |
|  |  | &nbsp;&nbsp;&nbsp; 3762247 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 08/15/40 | 100000 | &nbsp;&nbsp;&nbsp; 68334 |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/22/37 | 177000 | &nbsp;&nbsp;&nbsp; 163192 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 08/15/52 | 304000 | &nbsp;&nbsp;&nbsp; 261037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 08/15/54 | 493000 | &nbsp;&nbsp;&nbsp; 487075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 08/15/64 (a) | 80000 | &nbsp;&nbsp;&nbsp; 79412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 05/15/53 | 40000 | &nbsp;&nbsp;&nbsp; 40574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/63 | 57000 | &nbsp;&nbsp;&nbsp; 58622 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/29 (144A) | 236000 | &nbsp;&nbsp;&nbsp; 235331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/15/34 | 240000 | &nbsp;&nbsp;&nbsp; 240451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/15/35 | 190000 | &nbsp;&nbsp;&nbsp; 188276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 09/15/54 (a) | 181000 | &nbsp;&nbsp;&nbsp; 175611 |
|  |  | &nbsp;&nbsp;&nbsp; 1997915 |
| **Lodging — 0.0%** | **Lodging — 0.0%** | **Lodging — 0.0%** |
| Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 07/15/27 | 220000 | &nbsp;&nbsp;&nbsp; 220682 |

---

**BHFTI-188**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Lodging—(Continued)** | **Lodging—(Continued)** | **Lodging—(Continued)** |
| Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/37 | 160000 | &nbsp;&nbsp;&nbsp; $163510 |
|  |  | &nbsp;&nbsp;&nbsp; 384192 |
| **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** |
| Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 04/15/28 | 191000 | &nbsp;&nbsp;&nbsp; 197577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 04/15/33 | 77000 | &nbsp;&nbsp;&nbsp; 82663 |
|  |  | &nbsp;&nbsp;&nbsp; 280240 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/41 | 145000 | &nbsp;&nbsp;&nbsp; 105792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/42 | 105000 | &nbsp;&nbsp;&nbsp; 75626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 04/01/51 | 132000 | &nbsp;&nbsp;&nbsp; 87082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 03/01/50 | 135000 | &nbsp;&nbsp;&nbsp; 106924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/01/35 | 120000 | &nbsp;&nbsp;&nbsp; 121146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.384%, 10/23/35 | 359000 | &nbsp;&nbsp;&nbsp; 376099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.484%, 10/23/45 | 186000 | &nbsp;&nbsp;&nbsp; 183751 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 01/15/51 | 235000 | &nbsp;&nbsp;&nbsp; 143466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.887%, 11/01/51 | 1077000 | &nbsp;&nbsp;&nbsp; 663401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.937%, 11/01/56 | 769000 | &nbsp;&nbsp;&nbsp; 456332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/01/39 | 115000 | &nbsp;&nbsp;&nbsp; 91821 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/41 | 200000 | &nbsp;&nbsp;&nbsp; 183288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/40 | 275000 | &nbsp;&nbsp;&nbsp; 262865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 05/01/37 (a) | 252000 | &nbsp;&nbsp;&nbsp; 262146 |
|  |  | &nbsp;&nbsp;&nbsp; 3119739 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 09/10/30 (144A) | 260000 | &nbsp;&nbsp;&nbsp; 238628 |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.780%, 01/13/55 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 214560 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 03/15/43 | 170000 | &nbsp;&nbsp;&nbsp; 163741 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 182450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.186%, 04/01/30 (144A) | 80000 | &nbsp;&nbsp;&nbsp; 82423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.634%, 04/04/34 (144A) | 80000 | &nbsp;&nbsp;&nbsp; 83260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.673%, 04/01/35 (144A) | 515000 | &nbsp;&nbsp;&nbsp; 535256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/06/30 (144A) | 201000 | &nbsp;&nbsp;&nbsp; 216953 |
|  |  | &nbsp;&nbsp;&nbsp; 1717271 |
| **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** |
| Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 11/02/42 | 200000 | &nbsp;&nbsp;&nbsp; 176744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/15/37 | 100000 | &nbsp;&nbsp;&nbsp; 106139 |
|  |  | &nbsp;&nbsp;&nbsp; 282883 |
| **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** |
| Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/01/30 (144A) | 227000 | &nbsp;&nbsp;&nbsp; 228317 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** |
| BG Energy Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/15/41 (144A) | 200000 | &nbsp;&nbsp;&nbsp; $193278 |
| ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/55 (a) | 65000 | &nbsp;&nbsp;&nbsp; 63677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 09/15/63 | 231000 | &nbsp;&nbsp;&nbsp; 229045 |
| Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 02/15/35 | 70000 | &nbsp;&nbsp;&nbsp; 70559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 02/15/55 | 263000 | &nbsp;&nbsp;&nbsp; 253837 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/54 (a) | 25000 | &nbsp;&nbsp;&nbsp; 23189 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/18/54 | 87000 | &nbsp;&nbsp;&nbsp; 83745 |
| Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 10/01/40 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 146042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 05/15/54 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 199934 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/15/29 (a) | 130000 | &nbsp;&nbsp;&nbsp; 130019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/31 | 322000 | &nbsp;&nbsp;&nbsp; 321344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/01/29 | 120000 | &nbsp;&nbsp;&nbsp; 124438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/01/30 | 90000 | &nbsp;&nbsp;&nbsp; 99281 |
| Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 | 144000 | &nbsp;&nbsp;&nbsp; 141520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/15/30 (a) | 750000 | &nbsp;&nbsp;&nbsp; 762607 |
| Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 02/15/41 | 329000 | &nbsp;&nbsp;&nbsp; 341419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/40 | 89000 | &nbsp;&nbsp;&nbsp; 96742 |
| Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 09/15/44 | 53000 | &nbsp;&nbsp;&nbsp; 45617 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/15/45 | 123000 | &nbsp;&nbsp;&nbsp; 97021 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/15/33 | 111000 | &nbsp;&nbsp;&nbsp; 117085 |
| Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 01/15/31 | 1206000 | &nbsp;&nbsp;&nbsp; 1084318 |
| Santos Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.649%, 04/29/31 (144A) | 254000 | &nbsp;&nbsp;&nbsp; 237097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/19/33 (144A) | 75000 | &nbsp;&nbsp;&nbsp; 82483 |
| TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.986%, 06/29/41 | 519000 | &nbsp;&nbsp;&nbsp; 393518 |
| TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.275%, 09/10/54 | 80000 | &nbsp;&nbsp;&nbsp; 76849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.638%, 04/05/64 | 89000 | &nbsp;&nbsp;&nbsp; 88671 |
|  |  | &nbsp;&nbsp;&nbsp; 5731652 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 03/17/30 | 110000 | &nbsp;&nbsp;&nbsp; 112495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/17/35 | 175000 | &nbsp;&nbsp;&nbsp; 180199 |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 06/15/31 (a) | 125000 | &nbsp;&nbsp;&nbsp; 132161 |
| Packaging Corp. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 12/15/49 | 35000 | &nbsp;&nbsp;&nbsp; 27795 |
| Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 09/01/29 (a) | 138000 | &nbsp;&nbsp;&nbsp; 138819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/34 (a) | 160000 | &nbsp;&nbsp;&nbsp; 158256 |
|  |  | &nbsp;&nbsp;&nbsp; 749725 |

---

**BHFTI-189**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 11/21/39 | 456000 | &nbsp;&nbsp;&nbsp; $408091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/21/49 | 320000 | &nbsp;&nbsp;&nbsp; 269594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 11/06/42 | 340000 | &nbsp;&nbsp;&nbsp; 306632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/01/42 | 188000 | &nbsp;&nbsp;&nbsp; 174172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 03/15/29 | 191000 | &nbsp;&nbsp;&nbsp; 195322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/15/34 | 94000 | &nbsp;&nbsp;&nbsp; 96728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/15/64 | 36000 | &nbsp;&nbsp;&nbsp; 35981 |
| Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/15/52 | 38000 | &nbsp;&nbsp;&nbsp; 28359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 03/15/62 | 97000 | &nbsp;&nbsp;&nbsp; 71109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 02/20/48 | 150000 | &nbsp;&nbsp;&nbsp; 131163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 02/22/34 (a) | 43000 | &nbsp;&nbsp;&nbsp; 44589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 02/22/54 (a) | 487000 | &nbsp;&nbsp;&nbsp; 485374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 02/22/64 | 228000 | &nbsp;&nbsp;&nbsp; 226113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/15/53 (a) | 322000 | &nbsp;&nbsp;&nbsp; 351616 |
| Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 09/15/35 (a) | 123000 | &nbsp;&nbsp;&nbsp; 123732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/54 | 60000 | &nbsp;&nbsp;&nbsp; 60176 |
| Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 03/15/31 | 237000 | &nbsp;&nbsp;&nbsp; 217339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/01/45 | 94000 | &nbsp;&nbsp;&nbsp; 78956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 12/15/29 | 25000 | &nbsp;&nbsp;&nbsp; 25509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 02/15/35 | 125000 | &nbsp;&nbsp;&nbsp; 127654 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/01/40 | 238000 | &nbsp;&nbsp;&nbsp; 202171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/01/53 | 157000 | &nbsp;&nbsp;&nbsp; 154268 |
| CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.704%, 01/10/36 (144A) | 208900 | &nbsp;&nbsp;&nbsp; 199940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.880%, 01/10/28 | 123893 | &nbsp;&nbsp;&nbsp; 124837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.353%, 07/10/31 (144A) | 89763 | &nbsp;&nbsp;&nbsp; 98016 |
| Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 10/15/65 | 60000 | &nbsp;&nbsp;&nbsp; 61952 |
| Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/17/63 | 45000 | &nbsp;&nbsp;&nbsp; 42376 |
| Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/19/33 (a) | 258000 | &nbsp;&nbsp;&nbsp; 260645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 05/19/53 (a) | 377000 | &nbsp;&nbsp;&nbsp; 364328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.340%, 05/19/63 | 118000 | &nbsp;&nbsp;&nbsp; 112000 |
| Takeda Pharmaceutical Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.175%, 07/09/50 | 200000 | &nbsp;&nbsp;&nbsp; 135371 |
| Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/15/30 | 393000 | &nbsp;&nbsp;&nbsp; 357367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/17/35 | 85000 | &nbsp;&nbsp;&nbsp; 85848 |
|  |  | &nbsp;&nbsp;&nbsp; 5657328 |
| **Pipelines — 0.8%** | **Pipelines — 0.8%** | **Pipelines — 0.8%** |
| Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.701%, 01/15/39 (144A) | 163000 | &nbsp;&nbsp;&nbsp; 139396 |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 11/15/29 | 138000 | &nbsp;&nbsp;&nbsp; 134114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/30/27 | 121000 | &nbsp;&nbsp;&nbsp; 122320 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/31/32 | 163000 | &nbsp;&nbsp;&nbsp; 148495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/29 | 488000 | &nbsp;&nbsp;&nbsp; 486437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 10/30/35 (144A) | 40000 | &nbsp;&nbsp;&nbsp; 40865 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pipelines—(Continued)** | **Pipelines—(Continued)** | **Pipelines—(Continued)** |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/15/34 | 90000 | &nbsp;&nbsp;&nbsp; $93563 |
| Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/28 | 391000 | &nbsp;&nbsp;&nbsp; 389778 |
| Columbia Pipelines Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.097%, 10/01/31 (144A) | 58000 | &nbsp;&nbsp;&nbsp; 58895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.042%, 08/15/28 (144A) | 134000 | &nbsp;&nbsp;&nbsp; 139830 |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 02/15/35 (144A) | 205000 | &nbsp;&nbsp;&nbsp; 209019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.927%, 08/15/30 (144A) | 63000 | &nbsp;&nbsp;&nbsp; 66651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.962%, 02/15/55 (144A) | 160000 | &nbsp;&nbsp;&nbsp; 158674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.036%, 11/15/33 (144A) | 244000 | &nbsp;&nbsp;&nbsp; 260357 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/15/29 (144A) | 370000 | &nbsp;&nbsp;&nbsp; 360996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 04/15/32 (144A) | 160000 | &nbsp;&nbsp;&nbsp; 153033 |
| Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 01/15/55 | 40000 | &nbsp;&nbsp;&nbsp; 41921 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/05/34 | 150000 | &nbsp;&nbsp;&nbsp; 156571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 5Y H15 + 3.785%, 01/15/84 (e) | 238000 | &nbsp;&nbsp;&nbsp; 255651 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 09/15/29 | 62000 | &nbsp;&nbsp;&nbsp; 61434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 01/15/43 | 150000 | &nbsp;&nbsp;&nbsp; 132869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 09/01/34 | 115000 | &nbsp;&nbsp;&nbsp; 118026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 04/01/35 | 358000 | &nbsp;&nbsp;&nbsp; 369663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/29 (144A) | 633000 | &nbsp;&nbsp;&nbsp; 642004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 2.676%, 02/15/56 (e) | 370000 | &nbsp;&nbsp;&nbsp; 368266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/01/31 (144A) | 106000 | &nbsp;&nbsp;&nbsp; 110715 |
| Gray Oak Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 10/15/27 (144A) | 170000 | &nbsp;&nbsp;&nbsp; 167579 |
| Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 11/01/42 | 249000 | &nbsp;&nbsp;&nbsp; 219149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/42 | 170000 | &nbsp;&nbsp;&nbsp; 155783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/41 | 110000 | &nbsp;&nbsp;&nbsp; 117492 |
| Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 06/01/30 (a) | 90000 | &nbsp;&nbsp;&nbsp; 92842 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 04/01/35 | 70000 | &nbsp;&nbsp;&nbsp; 70571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 09/15/35 | 375000 | &nbsp;&nbsp;&nbsp; 375815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/34 | 65000 | &nbsp;&nbsp;&nbsp; 66241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/01/55 | 175000 | &nbsp;&nbsp;&nbsp; 171078 |
| NGPL PipeCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 08/15/27 (144A) | 228000 | &nbsp;&nbsp;&nbsp; 228555 |
| Northern Natural Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 10/16/51 (144A) | 81000 | &nbsp;&nbsp;&nbsp; 55459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 01/15/49 (144A) | 44000 | &nbsp;&nbsp;&nbsp; 35960 |
| ONEOK Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 10/01/36 | 140000 | &nbsp;&nbsp;&nbsp; 152978 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/31 | 50000 | &nbsp;&nbsp;&nbsp; 50016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 04/01/45 | 51000 | &nbsp;&nbsp;&nbsp; 45324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/01/29 | 125000 | &nbsp;&nbsp;&nbsp; 128739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/15/35 | 225000 | &nbsp;&nbsp;&nbsp; 225846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 04/01/44 | 188000 | &nbsp;&nbsp;&nbsp; 178247 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 06/15/35 | 80000 | &nbsp;&nbsp;&nbsp; 83490 |

---

**BHFTI-190**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pipelines—(Continued)** | **Pipelines—(Continued)** | **Pipelines—(Continued)** |
| Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 01/15/36 | 100000 | &nbsp;&nbsp;&nbsp; $101257 |
| Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/15/30 | 190000 | &nbsp;&nbsp;&nbsp; 190663 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.911%, 09/01/27 | 114000 | &nbsp;&nbsp;&nbsp; 114976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.026%, 10/01/29 | 265000 | &nbsp;&nbsp;&nbsp; 268042 |
| TransCanada PipeLines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 03/31/34 | 90000 | &nbsp;&nbsp;&nbsp; 93107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 06/01/40 | 62000 | &nbsp;&nbsp;&nbsp; 65593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 10/15/37 | 130000 | &nbsp;&nbsp;&nbsp; 139308 |
| Transcanada Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, SOFR + 4.416%, 09/15/79 (e) | 165000 | &nbsp;&nbsp;&nbsp; 163468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/15/76 | 347000 | &nbsp;&nbsp;&nbsp; 347209 |
| Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/29 (144A) | 35000 | &nbsp;&nbsp;&nbsp; 33542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/31 (144A) | 480000 | &nbsp;&nbsp;&nbsp; 453047 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/01/50 (a) | 45000 | &nbsp;&nbsp;&nbsp; 39164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 04/01/44 | 170000 | &nbsp;&nbsp;&nbsp; 154126 |
| Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 11/15/29 | 361000 | &nbsp;&nbsp;&nbsp; 367446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 08/15/28 (a) | 359000 | &nbsp;&nbsp;&nbsp; 370143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 03/15/35 | 60000 | &nbsp;&nbsp;&nbsp; 62265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/15/55 | 25000 | &nbsp;&nbsp;&nbsp; 25792 |
|  |  | &nbsp;&nbsp;&nbsp; 10829855 |
| **Real Estate Investment Trusts — 0.4%** | **Real Estate Investment Trusts — 0.4%** | **Real Estate Investment Trusts — 0.4%** |
| Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/18/32 | 405000 | &nbsp;&nbsp;&nbsp; 342341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 03/15/52 | 115000 | &nbsp;&nbsp;&nbsp; 79949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/50 | 111000 | &nbsp;&nbsp;&nbsp; 85141 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 06/15/30 | 60000 | &nbsp;&nbsp;&nbsp; 61093 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 10/15/30 | 130000 | &nbsp;&nbsp;&nbsp; 114971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 02/15/29 | 382000 | &nbsp;&nbsp;&nbsp; 393073 |
| American Tower Trust #1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.652%, 03/15/48 (144A) | 160000 | &nbsp;&nbsp;&nbsp; 157278 |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/01/28 | 80000 | &nbsp;&nbsp;&nbsp; 76192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 02/15/33 | 135000 | &nbsp;&nbsp;&nbsp; 134704 |
| COPT Defense Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 04/15/31 | 132000 | &nbsp;&nbsp;&nbsp; 119498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/30 | 45000 | &nbsp;&nbsp;&nbsp; 44703 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 06/01/29 | 560000 | &nbsp;&nbsp;&nbsp; 581888 |
| DOC Dr. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 11/01/31 | 55000 | &nbsp;&nbsp;&nbsp; 49012 |
| Equinix Europe 2 Financing Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/34 | 354000 | &nbsp;&nbsp;&nbsp; 367466 |
| ERP Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 06/15/32 | 100000 | &nbsp;&nbsp;&nbsp; 102498 |
| Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 03/01/28 | 170000 | &nbsp;&nbsp;&nbsp; 160380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 03/15/32 | 120000 | &nbsp;&nbsp;&nbsp; 106950 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** |
| Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/29 | 311000 | &nbsp;&nbsp;&nbsp; $307811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 01/15/33 | 60000 | &nbsp;&nbsp;&nbsp; 60354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/30 | 200000 | &nbsp;&nbsp;&nbsp; 208515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 01/15/31 | 201000 | &nbsp;&nbsp;&nbsp; 213551 |
| Goodman U.S. Finance Three LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/15/28 (144A) | 110000 | &nbsp;&nbsp;&nbsp; 108534 |
| Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/15/29 | 118000 | &nbsp;&nbsp;&nbsp; 114381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/15/35 | 80000 | &nbsp;&nbsp;&nbsp; 81737 |
| NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/15/52 | 50000 | &nbsp;&nbsp;&nbsp; 31738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 04/15/50 | 155000 | &nbsp;&nbsp;&nbsp; 101572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/15/51 | 105000 | &nbsp;&nbsp;&nbsp; 74325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 10/15/33 | 100000 | &nbsp;&nbsp;&nbsp; 104603 |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/15/31 | 185000 | &nbsp;&nbsp;&nbsp; 175121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/15/35 | 60000 | &nbsp;&nbsp;&nbsp; 61013 |
| Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 09/15/29 | 285000 | &nbsp;&nbsp;&nbsp; 272119 |
| Safehold GL Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 01/15/32 | 167000 | &nbsp;&nbsp;&nbsp; 148184 |
| Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/01/35 | 249000 | &nbsp;&nbsp;&nbsp; 251901 |
| UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/15/28 | 100000 | &nbsp;&nbsp;&nbsp; 98494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 01/26/29 | 86000 | &nbsp;&nbsp;&nbsp; 86304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/01/34 | 241000 | &nbsp;&nbsp;&nbsp; 244119 |
| Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/15/30 | 360000 | &nbsp;&nbsp;&nbsp; 340800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/30 | 75000 | &nbsp;&nbsp;&nbsp; 75920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/15/49 | 88000 | &nbsp;&nbsp;&nbsp; 77611 |
| WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/01/33 | 135000 | &nbsp;&nbsp;&nbsp; 112697 |
|  |  | &nbsp;&nbsp;&nbsp; 6328541 |
| **Retail — 0.1%** | **Retail — 0.1%** | **Retail — 0.1%** |
| Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 04/15/40 | 329000 | &nbsp;&nbsp;&nbsp; 269588 |
| Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 09/15/41 | 475000 | &nbsp;&nbsp;&nbsp; 343935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/15/53 | 120000 | &nbsp;&nbsp;&nbsp; 119335 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 09/01/49 (a) | 140000 | &nbsp;&nbsp;&nbsp; 104875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 02/12/31 | 225000 | &nbsp;&nbsp;&nbsp; 225613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 10/15/37 | 30000 | &nbsp;&nbsp;&nbsp; 33411 |
|  |  | &nbsp;&nbsp;&nbsp; 1096757 |
| **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** |
| Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.960%, 07/18/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 196727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.127%, 07/29/29 (144A) (a) | 275000 | &nbsp;&nbsp;&nbsp; 283277 |
|  |  | &nbsp;&nbsp;&nbsp; 480004 |

---

**BHFTI-191**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.187%, 11/15/36 (144A) | 120000 | &nbsp;&nbsp;&nbsp; $102405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.419%, 04/15/33 (144A) | 906000 | &nbsp;&nbsp;&nbsp; 838480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.469%, 04/15/34 (144A) | 405000 | &nbsp;&nbsp;&nbsp; 369603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/51 (144A) | 10000 | &nbsp;&nbsp;&nbsp; 7826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 02/15/32 (a) | 152000 | &nbsp;&nbsp;&nbsp; 153056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 02/15/36 | 150000 | &nbsp;&nbsp;&nbsp; 149542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 07/15/32 | 145000 | &nbsp;&nbsp;&nbsp; 148333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 07/15/35 | 45000 | &nbsp;&nbsp;&nbsp; 46377 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/25/35 (144A) | 355000 | &nbsp;&nbsp;&nbsp; 379998 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 08/12/51 (a) | 55000 | &nbsp;&nbsp;&nbsp; 34896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/15/49 | 55000 | &nbsp;&nbsp;&nbsp; 36547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.734%, 12/08/47 | 35000 | &nbsp;&nbsp;&nbsp; 25852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/42 | 205000 | &nbsp;&nbsp;&nbsp; 170207 |
| KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 03/01/50 | 100000 | &nbsp;&nbsp;&nbsp; 71535 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 04/15/31 | 430000 | &nbsp;&nbsp;&nbsp; 397125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/30 | 25000 | &nbsp;&nbsp;&nbsp; 25326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 07/15/35 | 346000 | &nbsp;&nbsp;&nbsp; 356703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 02/15/29 | 366000 | &nbsp;&nbsp;&nbsp; 381826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 09/15/33 | 165000 | &nbsp;&nbsp;&nbsp; 177030 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/09/33 | 190000 | &nbsp;&nbsp;&nbsp; 201802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 11/01/35 | 155000 | &nbsp;&nbsp;&nbsp; 165608 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 02/15/32 | 150000 | &nbsp;&nbsp;&nbsp; 133425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/33 (a) | 200000 | &nbsp;&nbsp;&nbsp; 202628 |
| Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 05/18/63 | 37000 | &nbsp;&nbsp;&nbsp; 34384 |
|  |  | &nbsp;&nbsp;&nbsp; 4610514 |
| **Software — 0.3%** | **Software — 0.3%** | **Software — 0.3%** |
| Electronic Arts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 02/15/51 | 79000 | &nbsp;&nbsp;&nbsp; 68511 |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 07/01/49 | 60000 | &nbsp;&nbsp;&nbsp; 49470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/11/35 | 30000 | &nbsp;&nbsp;&nbsp; 30319 |
| Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/15/50 | 299000 | &nbsp;&nbsp;&nbsp; 187418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.525%, 06/01/50 | 80000 | &nbsp;&nbsp;&nbsp; 50646 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/01/40 | 320000 | &nbsp;&nbsp;&nbsp; 257005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/01/50 | 421000 | &nbsp;&nbsp;&nbsp; 296367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 03/25/41 | 300000 | &nbsp;&nbsp;&nbsp; 240268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 11/15/37 | 130000 | &nbsp;&nbsp;&nbsp; 112389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/47 | 71000 | &nbsp;&nbsp;&nbsp; 55025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/55 | 140000 | &nbsp;&nbsp;&nbsp; 109920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/26/32 (a) | 295000 | &nbsp;&nbsp;&nbsp; 295355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 02/06/33 | 100000 | &nbsp;&nbsp;&nbsp; 100905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 09/26/35 | 120000 | &nbsp;&nbsp;&nbsp; 120661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 09/27/54 (a) | 70000 | &nbsp;&nbsp;&nbsp; 64303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 02/06/53 | 6000 | &nbsp;&nbsp;&nbsp; 5677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/26/45 | 180000 | &nbsp;&nbsp;&nbsp; 180489 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 09/26/55 | 85000 | &nbsp;&nbsp;&nbsp; $84738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/03/55 | 489000 | &nbsp;&nbsp;&nbsp; 490910 |
| Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 09/15/30 | 70000 | &nbsp;&nbsp;&nbsp; 70285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/29 | 97000 | &nbsp;&nbsp;&nbsp; 97924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/32 | 53000 | &nbsp;&nbsp;&nbsp; 53592 |
| Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 07/15/41 | 150000 | &nbsp;&nbsp;&nbsp; 110319 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 04/01/30 | 150000 | &nbsp;&nbsp;&nbsp; 152786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/32 | 112000 | &nbsp;&nbsp;&nbsp; 114452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 04/01/55 | 175000 | &nbsp;&nbsp;&nbsp; 176615 |
| Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 03/28/28 | 43000 | &nbsp;&nbsp;&nbsp; 43775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 06/12/29 | 232000 | &nbsp;&nbsp;&nbsp; 240201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 06/12/34 | 156000 | &nbsp;&nbsp;&nbsp; 162903 |
|  |  | &nbsp;&nbsp;&nbsp; 4023228 |
| **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/01/32 | 300000 | &nbsp;&nbsp;&nbsp; 262638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/41 (a) | 428000 | &nbsp;&nbsp;&nbsp; 342133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/15/53 | 115000 | &nbsp;&nbsp;&nbsp; 79546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 09/15/55 | 839000 | &nbsp;&nbsp;&nbsp; 578170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 11/01/35 | 165000 | &nbsp;&nbsp;&nbsp; 163712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 11/01/45 | 205000 | &nbsp;&nbsp;&nbsp; 202962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 11/01/54 | 130000 | &nbsp;&nbsp;&nbsp; 128487 |
| NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.171%, 07/16/32 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 204833 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 03/15/32 | 389000 | &nbsp;&nbsp;&nbsp; 367464 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 02/15/29 | 742000 | &nbsp;&nbsp;&nbsp; 704210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 02/15/51 | 230000 | &nbsp;&nbsp;&nbsp; 156764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/15/30 | 236000 | &nbsp;&nbsp;&nbsp; 231419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/15/32 | 175000 | &nbsp;&nbsp;&nbsp; 180103 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/20/31 | 690000 | &nbsp;&nbsp;&nbsp; 603661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 05/09/33 (a) | 200000 | &nbsp;&nbsp;&nbsp; 204660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.401%, 07/02/37 (144A) (a) | 607000 | &nbsp;&nbsp;&nbsp; 616688 |
| Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/28/54 (a) | 184000 | &nbsp;&nbsp;&nbsp; 181152 |
|  |  | &nbsp;&nbsp;&nbsp; 5208602 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/02/51 | 140000 | &nbsp;&nbsp;&nbsp; 94663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 05/15/43 | 236000 | &nbsp;&nbsp;&nbsp; 204629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/01/48 | 258000 | &nbsp;&nbsp;&nbsp; 230249 |
| CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 05/01/37 | 60000 | &nbsp;&nbsp;&nbsp; 66258 |
| FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/15/41 (144A) | 89000 | &nbsp;&nbsp;&nbsp; 66554 |
| Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 08/25/51 | 285000 | &nbsp;&nbsp;&nbsp; 185041 |

---

**BHFTI-192**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Transportation—(Continued)** | **Transportation—(Continued)** | **Transportation—(Continued)** |
| Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 05/15/50 | 116000 | &nbsp;&nbsp;&nbsp; $78628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 06/15/45 | 100000 | &nbsp;&nbsp;&nbsp; 87391 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 09/15/67 | 70000 | &nbsp;&nbsp;&nbsp; 53269 |
|  |  | &nbsp;&nbsp;&nbsp; 1066682 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/10/30 (144A) | 230000 | &nbsp;&nbsp;&nbsp; 231258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $164,134,796) <br>|  | &nbsp;&nbsp;&nbsp; 166071023 |
| **Agency Sponsored Mortgage-Backed Securities—3.0%** | **Agency Sponsored Mortgage-Backed Securities—3.0%** | **Agency Sponsored Mortgage-Backed Securities—3.0%** |
| **Agency Collateralized Mortgage Obligations — 0.5%** | **Agency Collateralized Mortgage Obligations — 0.5%** | **Agency Collateralized Mortgage Obligations — 0.5%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/15/42 | 20166 | &nbsp;&nbsp;&nbsp; 18239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/25/49 | 203985 | &nbsp;&nbsp;&nbsp; 183730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/41 | 748230 | &nbsp;&nbsp;&nbsp; 726305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/40 | 117000 | &nbsp;&nbsp;&nbsp; 119758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/15/37 | 113651 | &nbsp;&nbsp;&nbsp; 118428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Seasoned Credit Risk <br> Transfer Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/62 | 698256 | &nbsp;&nbsp;&nbsp; 587163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 06/25/57 (f) | 694356 | &nbsp;&nbsp;&nbsp; 628653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/25/61 | 307813 | &nbsp;&nbsp;&nbsp; 267171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/25/57 | 313529 | &nbsp;&nbsp;&nbsp; 290771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/25/57 | 317285 | &nbsp;&nbsp;&nbsp; 293697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/25/58 | 419869 | &nbsp;&nbsp;&nbsp; 402939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/25/58 | 338016 | &nbsp;&nbsp;&nbsp; 303059 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/25/42 | 147673 | &nbsp;&nbsp;&nbsp; 139988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/25/46 | 80279 | &nbsp;&nbsp;&nbsp; 78530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/25/49 | 361095 | &nbsp;&nbsp;&nbsp; 332251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/25/42 | 122926 | &nbsp;&nbsp;&nbsp; 118991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/25/43 | 48013 | &nbsp;&nbsp;&nbsp; 47839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/25/37 | 22508 | &nbsp;&nbsp;&nbsp; 22927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/25/39 | 250000 | &nbsp;&nbsp;&nbsp; 255119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/25/40 | 65000 | &nbsp;&nbsp;&nbsp; 64771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/25/34 | 62798 | &nbsp;&nbsp;&nbsp; 65879 |
| Federal National Mortgage Association Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.620%, 11/25/33 | 154185 | &nbsp;&nbsp;&nbsp; 154706 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/20/43 | 14543 | &nbsp;&nbsp;&nbsp; 12387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/48 | 298706 | &nbsp;&nbsp;&nbsp; 283616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/20/49 | 257835 | &nbsp;&nbsp;&nbsp; 241558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/20/53 | 703573 | &nbsp;&nbsp;&nbsp; 691662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/20/37 | 57261 | &nbsp;&nbsp;&nbsp; 57515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/16/37 | 56809 | &nbsp;&nbsp;&nbsp; 57163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/16/39 | 200000 | &nbsp;&nbsp;&nbsp; 202558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/17/34 | 30753 | &nbsp;&nbsp;&nbsp; 30963 |
| Seasoned Credit Risk Transfer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 06/25/65 | 219000 | &nbsp;&nbsp;&nbsp; 185781 |
|  |  | &nbsp;&nbsp;&nbsp; 6984117 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities — 2.5%** | **Agency Mortgage-Backed Securities — 2.5%** | **Agency Mortgage-Backed Securities — 2.5%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/01/49 | 602612 | &nbsp;&nbsp;&nbsp; $512728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/52 | 331993 | &nbsp;&nbsp;&nbsp; 291751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 06/01/34 | 735315 | &nbsp;&nbsp;&nbsp; 696332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/47 | 126434 | &nbsp;&nbsp;&nbsp; 121352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/48 | 149990 | &nbsp;&nbsp;&nbsp; 148128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/48 | 76684 | &nbsp;&nbsp;&nbsp; 76948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured Credit <br> Risk<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.606%, SOFR30A + 4.250%, 05/25/52 (144A) (e) | 554250 | &nbsp;&nbsp;&nbsp; 568404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.660%, 01/25/31 | 485000 | &nbsp;&nbsp;&nbsp; 491816 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 01/01/31 | 500000 | &nbsp;&nbsp;&nbsp; 437268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/01/33 | 500000 | &nbsp;&nbsp;&nbsp; 418227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.930%, 11/01/31 | 900000 | &nbsp;&nbsp;&nbsp; 789105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.960%, 09/01/33 | 750000 | &nbsp;&nbsp;&nbsp; 622461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.140%, 12/01/33 | 434860 | &nbsp;&nbsp;&nbsp; 372288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/51 | 432296 | &nbsp;&nbsp;&nbsp; 364396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/01/51 | 528554 | &nbsp;&nbsp;&nbsp; 449786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/01/61 | 329924 | &nbsp;&nbsp;&nbsp; 269056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/61 | 1708209 | &nbsp;&nbsp;&nbsp; 1393050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/62 | 496449 | &nbsp;&nbsp;&nbsp; 404856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.580%, 03/01/32 | 498686 | &nbsp;&nbsp;&nbsp; 453248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 10/01/31 | 344441 | &nbsp;&nbsp;&nbsp; 316251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.770%, 08/01/33 | 920196 | &nbsp;&nbsp;&nbsp; 814414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/52 | 534380 | &nbsp;&nbsp;&nbsp; 470005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/61 | 598174 | &nbsp;&nbsp;&nbsp; 522636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.230%, 01/01/30 | 433311 | &nbsp;&nbsp;&nbsp; 419431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.330%, 04/01/35 | 450927 | &nbsp;&nbsp;&nbsp; 416249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/61 | 290795 | &nbsp;&nbsp;&nbsp; 261066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/61 | 709854 | &nbsp;&nbsp;&nbsp; 637302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/62 | 545968 | &nbsp;&nbsp;&nbsp; 494393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/62 | 502160 | &nbsp;&nbsp;&nbsp; 450836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.510%, 09/01/32 | 300000 | &nbsp;&nbsp;&nbsp; 284926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.540%, 11/01/32 | 600000 | &nbsp;&nbsp;&nbsp; 569769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.620%, 05/01/32 | 944577 | &nbsp;&nbsp;&nbsp; 909308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.680%, 09/01/32 | 613000 | &nbsp;&nbsp;&nbsp; 590263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 09/01/32 | 720672 | &nbsp;&nbsp;&nbsp; 697911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.810%, 10/01/32 | 790000 | &nbsp;&nbsp;&nbsp; 766366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.870%, 06/01/37 | 364000 | &nbsp;&nbsp;&nbsp; 338357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/46 | 330861 | &nbsp;&nbsp;&nbsp; 318908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/47 | 177483 | &nbsp;&nbsp;&nbsp; 170579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/47 | 248713 | &nbsp;&nbsp;&nbsp; 238988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/48 | 247659 | &nbsp;&nbsp;&nbsp; 238334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/48 | 81584 | &nbsp;&nbsp;&nbsp; 78347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/52 | 393831 | &nbsp;&nbsp;&nbsp; 372217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/59 | 477225 | &nbsp;&nbsp;&nbsp; 448757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/61 | 746776 | &nbsp;&nbsp;&nbsp; 698943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/39 | 60824 | &nbsp;&nbsp;&nbsp; 60820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/40 | 80225 | &nbsp;&nbsp;&nbsp; 80279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/48 | 41118 | &nbsp;&nbsp;&nbsp; 40539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/48 | 69128 | &nbsp;&nbsp;&nbsp; 68140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/48 | 8385 | &nbsp;&nbsp;&nbsp; 8264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/01/49 | 158466 | &nbsp;&nbsp;&nbsp; 157136 |

---

**BHFTI-193**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

**U.S. Treasury & Government Agencies—2.8%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/49 | 89150 | &nbsp;&nbsp;&nbsp; $87493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/58 | 474273 | &nbsp;&nbsp;&nbsp; 460168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/62 | 433909 | &nbsp;&nbsp;&nbsp; 420847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.680%, 10/01/29 | 800000 | &nbsp;&nbsp;&nbsp; 816956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.970%, 12/01/30 | 537496 | &nbsp;&nbsp;&nbsp; 553694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/44 | 215275 | &nbsp;&nbsp;&nbsp; 219508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/48 | 40130 | &nbsp;&nbsp;&nbsp; 40604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/48 | 112338 | &nbsp;&nbsp;&nbsp; 115015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/48 | 172060 | &nbsp;&nbsp;&nbsp; 174055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/48 | 108294 | &nbsp;&nbsp;&nbsp; 108502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/49 | 206601 | &nbsp;&nbsp;&nbsp; 209037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/53 | 420802 | &nbsp;&nbsp;&nbsp; 419009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/55 | 291629 | &nbsp;&nbsp;&nbsp; 291198 |
| Federal National Mortgage Association-ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 09/25/28 | 132228 | &nbsp;&nbsp;&nbsp; 126203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 10/25/30 | 66847 | &nbsp;&nbsp;&nbsp; 63883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.764%, 11/25/31 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 860884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.924%, 10/25/30 (e) (g) | 1100004 | &nbsp;&nbsp;&nbsp; 41667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.011%, 11/25/33 (e) (g) | 7700108 | &nbsp;&nbsp;&nbsp; 492996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 07/25/30 (e) (g) | 1855645 | &nbsp;&nbsp;&nbsp; 100431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.679%, 06/25/32 (e) | 966000 | &nbsp;&nbsp;&nbsp; 874069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.884%, 08/25/32 (e) | 800000 | &nbsp;&nbsp;&nbsp; 770789 |
| FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.652%, 12/25/51 (144A) (e) | 500000 | &nbsp;&nbsp;&nbsp; 480071 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/20/51 | 359421 | &nbsp;&nbsp;&nbsp; 309689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/20/51 | 99161 | &nbsp;&nbsp;&nbsp; 85440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/20/51 | 433355 | &nbsp;&nbsp;&nbsp; 397476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/20/52 | 700356 | &nbsp;&nbsp;&nbsp; 624143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/20/52 | 413336 | &nbsp;&nbsp;&nbsp; 376136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/49 | 194356 | &nbsp;&nbsp;&nbsp; 184504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/20/52 | 309203 | &nbsp;&nbsp;&nbsp; 287067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/20/47 | 511486 | &nbsp;&nbsp;&nbsp; 490562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/20/48 | 488960 | &nbsp;&nbsp;&nbsp; 464413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/15/39 | 164853 | &nbsp;&nbsp;&nbsp; 163371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/20/48 | 47968 | &nbsp;&nbsp;&nbsp; 46419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/20/48 | 657457 | &nbsp;&nbsp;&nbsp; 642881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/20/48 | 205627 | &nbsp;&nbsp;&nbsp; 200591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/20/49 | 175503 | &nbsp;&nbsp;&nbsp; 170754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/20/49 | 348026 | &nbsp;&nbsp;&nbsp; 342898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/20/48 | 72054 | &nbsp;&nbsp;&nbsp; 71812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/20/48 | 205836 | &nbsp;&nbsp;&nbsp; 207496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/20/49 | 501740 | &nbsp;&nbsp;&nbsp; 506986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/20/49 | 522418 | &nbsp;&nbsp;&nbsp; 533567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/20/52 | 1140277 | &nbsp;&nbsp;&nbsp; 1136840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/20/53 | 605945 | &nbsp;&nbsp;&nbsp; 614570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/20/53 | 425092 | &nbsp;&nbsp;&nbsp; 437974 |
|  |  | &nbsp;&nbsp;&nbsp; 36843602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $46,454,380) <br>|  | &nbsp;&nbsp;&nbsp; 43827719 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **U.S. Treasury — 2.8%** | **U.S. Treasury — 2.8%** | **U.S. Treasury — 2.8%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 05/15/50 | 831000 | &nbsp;&nbsp;&nbsp; $407612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 08/15/50 | 135000 | &nbsp;&nbsp;&nbsp; 67880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/15/51 | 2298000 | &nbsp;&nbsp;&nbsp; 1312643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 845000 | &nbsp;&nbsp;&nbsp; 478019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/15/50 | 367000 | &nbsp;&nbsp;&nbsp; 219469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/15/51 | 500000 | &nbsp;&nbsp;&nbsp; 292930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/46 | 236000 | &nbsp;&nbsp;&nbsp; 157456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/49 | 115000 | &nbsp;&nbsp;&nbsp; 73402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 02/15/42 | 625000 | &nbsp;&nbsp;&nbsp; 463135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 570000 | &nbsp;&nbsp;&nbsp; 372949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 05/15/51 | 175000 | &nbsp;&nbsp;&nbsp; 112588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/42 | 1600000 | &nbsp;&nbsp;&nbsp; 1245187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/43 | 1000000 | &nbsp;&nbsp;&nbsp; 783438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/52 | 3155000 | &nbsp;&nbsp;&nbsp; 2251388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/44 | 2634000 | &nbsp;&nbsp;&nbsp; 2060796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/47 | 65000 | &nbsp;&nbsp;&nbsp; 49634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/48 | 5000 | &nbsp;&nbsp;&nbsp; 3759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 02/15/43 | 235000 | &nbsp;&nbsp;&nbsp; 191810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/15/42 | 1400000 | &nbsp;&nbsp;&nbsp; 1176109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 08/15/43 | 960000 | &nbsp;&nbsp;&nbsp; 837600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/15/43 | 452000 | &nbsp;&nbsp;&nbsp; 400214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/40 | 410000 | &nbsp;&nbsp;&nbsp; 382181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/15/43 | 265000 | &nbsp;&nbsp;&nbsp; 240042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 540000 | &nbsp;&nbsp;&nbsp; 519940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/55 | 63000 | &nbsp;&nbsp;&nbsp; 63197 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 05/15/31 | 610000 | &nbsp;&nbsp;&nbsp; 543162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/34 | 1705000 | &nbsp;&nbsp;&nbsp; 1678892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 05/31/32 | 525000 | &nbsp;&nbsp;&nbsp; 531645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 4930000 | &nbsp;&nbsp;&nbsp; 4985655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 10260000 | &nbsp;&nbsp;&nbsp; 10549765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/31 | 310000 | &nbsp;&nbsp;&nbsp; 320753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/35 | 6340000 | &nbsp;&nbsp;&nbsp; 6588647 |
| U.S. Treasury STRIPS Coupon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/31 | 665000 | &nbsp;&nbsp;&nbsp; 539897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/40 | 720000 | &nbsp;&nbsp;&nbsp; 351840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/41 | 462776 | &nbsp;&nbsp;&nbsp; 223068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $44,152,472) <br>|  | &nbsp;&nbsp;&nbsp; 40476702 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Investment Companies—2.0%** | **Investment Companies—2.0%** | **Investment Companies—2.0%** |
| **Exchange-Traded Funds — 2.0%** | **Exchange-Traded Funds — 2.0%** | **Exchange-Traded Funds — 2.0%** |
| SPDR Bloomberg High Yield Bond ETF (a) | 288648 | &nbsp;&nbsp;&nbsp; 28284618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $26,026,668) <br>|  | &nbsp;&nbsp;&nbsp; 28284618 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—1.2%** | **Asset-Backed Securities—1.2%** | **Asset-Backed Securities—1.2%** |
| **Asset-Backed - Automobile — 0.5%** | **Asset-Backed - Automobile — 0.5%** | **Asset-Backed - Automobile — 0.5%** |
| Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.620%, 03/17/31 | 330000 | &nbsp;&nbsp;&nbsp; 334409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 07/16/29 | 438000 | &nbsp;&nbsp;&nbsp; 443021 |

---

**BHFTI-194**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Automobile—(Continued)** | **Asset-Backed - Automobile—(Continued)** | **Asset-Backed - Automobile—(Continued)** |
| Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.920%, 07/10/29 (144A) | 440000 | &nbsp;&nbsp;&nbsp; $443015 |
| Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 10/16/34 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 518038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.450%, 02/15/33 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 604897 |
| DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.790%, 02/15/29 (144A) | 685000 | &nbsp;&nbsp;&nbsp; 687914 |
| Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.410%, 06/20/29 (144A) | 178000 | &nbsp;&nbsp;&nbsp; 179424 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 12/15/28 | 595604 | &nbsp;&nbsp;&nbsp; 600540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.760%, 09/15/28 | 700000 | &nbsp;&nbsp;&nbsp; 709613 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.710%, 10/16/28 (144A) | 600000 | &nbsp;&nbsp;&nbsp; 606272 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.970%, 01/18/28 (144A) | 359092 | &nbsp;&nbsp;&nbsp; 358097 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.670%, 12/16/30 | 800000 | &nbsp;&nbsp;&nbsp; 807813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.690%, 02/18/31 | 800000 | &nbsp;&nbsp;&nbsp; 807812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.280%, 08/15/31 | 500000 | &nbsp;&nbsp;&nbsp; 516243 |
|  |  | &nbsp;&nbsp;&nbsp; 7617108 |
| **Asset-Backed - Credit Card — 0.1%** | **Asset-Backed - Credit Card — 0.1%** | **Asset-Backed - Credit Card — 0.1%** |
| Continental Finance Credit Card ABS Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 10/15/30 (144A) | 575000 | &nbsp;&nbsp;&nbsp; 576836 |
| Perimeter Master Note Business Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.580%, 12/16/30 (144A) | 350000 | &nbsp;&nbsp;&nbsp; 351033 |
|  |  | &nbsp;&nbsp;&nbsp; 927869 |
| **Asset-Backed - Other — 0.6%** | **Asset-Backed - Other — 0.6%** | **Asset-Backed - Other — 0.6%** |
| American Homes 4 Rent Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.691%, 10/17/52 (144A) | 100000 | &nbsp;&nbsp;&nbsp; 99776 |
| BXG Receivables Note Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.440%, 02/02/34 (144A) | 77732 | &nbsp;&nbsp;&nbsp; 77732 |
| Cars Net Lease Mortgage Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/15/50 (144A) | 126913 | &nbsp;&nbsp;&nbsp; 120477 |
| CoreVest American Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.163%, 10/15/52 (144A) | 650000 | &nbsp;&nbsp;&nbsp; 621193 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.668%, 10/19/37 (144A) | 1250000 | &nbsp;&nbsp;&nbsp; 1244392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/17/38 (144A) | 496000 | &nbsp;&nbsp;&nbsp; 493346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/17/39 (144A) | 750000 | &nbsp;&nbsp;&nbsp; 734426 |
| FMC GMSR Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.620%, 07/25/26 (144A) (e) | 400000 | &nbsp;&nbsp;&nbsp; 384034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 10/25/26 (144A) (e) | 360000 | &nbsp;&nbsp;&nbsp; 346526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 01/25/26 (144A) (e) | 500000 | &nbsp;&nbsp;&nbsp; 495334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 04/25/27 (144A) | 400000 | &nbsp;&nbsp;&nbsp; 400006 |
| MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.210%, 09/22/42 (144A) | 215465 | &nbsp;&nbsp;&nbsp; 218420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.540%, 10/20/40 (144A) | 340685 | &nbsp;&nbsp;&nbsp; 349600 |
| NRZ Excess Spread-Collateralized Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.474%, 11/25/26 (144A) | 99404 | &nbsp;&nbsp;&nbsp; 97254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.844%, 12/25/25 (144A) | 107510 | &nbsp;&nbsp;&nbsp; 107125 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 04/17/27 (144A) | 750000 | &nbsp;&nbsp;&nbsp; 738410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 04/17/39 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 327980 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Reach ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.120%, 08/18/32 (144A) | 175000 | &nbsp;&nbsp;&nbsp; $176379 |
| SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.790%, 11/20/31 (144A) | 220000 | &nbsp;&nbsp;&nbsp; 218582 |
| Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.940%, 10/20/38 (144A) | 36325 | &nbsp;&nbsp;&nbsp; 35866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.280%, 04/20/40 (144A) | 82865 | &nbsp;&nbsp;&nbsp; 85152 |
| Tricon American Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.198%, 03/17/38 (144A) | 525000 | &nbsp;&nbsp;&nbsp; 520028 |
| UPX HIL Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.160%, 01/25/47 (144A) | 346192 | &nbsp;&nbsp;&nbsp; 347668 |
| VM Debt Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.460%, 07/18/27 | 499794 | &nbsp;&nbsp;&nbsp; 475475 |
| VOLT CI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.992%, 05/25/51 (144A) (f) | 13665 | &nbsp;&nbsp;&nbsp; 13659 |
| VOLT XCVII LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.240%, 04/25/51 (144A) (f) | 13367 | &nbsp;&nbsp;&nbsp; 13365 |
|  |  | &nbsp;&nbsp;&nbsp; 8742205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $17,049,388) <br>|  | &nbsp;&nbsp;&nbsp; 17287182 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Convertible Preferred Stocks—0.9%** | **Convertible Preferred Stocks—0.9%** | **Convertible Preferred Stocks—0.9%** |
| **Banks — 0.7%** | **Banks — 0.7%** | **Banks — 0.7%** |
| Bank of America Corp.- Series L, 7.250% | 7345 | &nbsp;&nbsp;&nbsp; 9401600 |
| **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** |
| NextEra Energy, Inc., 7.234%, 11/01/27 | 59251 | &nbsp;&nbsp;&nbsp; 2786575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Cost $11,267,194) <br>|  | &nbsp;&nbsp;&nbsp; 12188175 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Non-Agency Mortgage-Backed Securities—0.4%** | **Non-Agency Mortgage-Backed Securities—0.4%** | **Non-Agency Mortgage-Backed Securities—0.4%** |
| **Collateralized Mortgage Obligations — 0.2%** | **Collateralized Mortgage Obligations — 0.2%** | **Collateralized Mortgage Obligations — 0.2%** |
| Anchor Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.718%, 05/25/40 (144A) (f) | 165000 | &nbsp;&nbsp;&nbsp; 165827 |
| Brean Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/25/65 (144A) (e) | 199528 | &nbsp;&nbsp;&nbsp; 195807 |
| BVRT LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.367%, 05/10/33 (144A) (e) | 299223 | &nbsp;&nbsp;&nbsp; 288589 |
| CAFL Issuer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.684%, 05/28/40 (144A) (f) | 350000 | &nbsp;&nbsp;&nbsp; 352857 |
| GS Mortgage-Backed Securities Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 12/25/60 (144A) (e) | 407719 | &nbsp;&nbsp;&nbsp; 382980 |
| LHOME Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.612%, 04/25/40 (144A) (e) | 165000 | &nbsp;&nbsp;&nbsp; 166575 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/53 (144A) (f) | 177243 | &nbsp;&nbsp;&nbsp; 175188 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.918%, 11/30/60 (144A) (e) | 497651 | &nbsp;&nbsp;&nbsp; 446868 |
|  |  | &nbsp;&nbsp;&nbsp; 2174691 |
| **Commercial Mortgage-Backed Securities — 0.2%** | **Commercial Mortgage-Backed Securities — 0.2%** | **Commercial Mortgage-Backed Securities — 0.2%** |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.953%, 09/15/37 (144A) | 655000 | &nbsp;&nbsp;&nbsp; 598506 |

---

**BHFTI-195**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** |
| MRCD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.718%, 12/15/36 (144A) | 1420000 | &nbsp;&nbsp;&nbsp; $1192272 |
| SBALR Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.825%, 02/13/53 (144A) | 674283 | &nbsp;&nbsp;&nbsp; 593163 |
| SLG Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.585%, 07/15/41 (144A) | 390000 | &nbsp;&nbsp;&nbsp; 346647 |
|  |  | &nbsp;&nbsp;&nbsp; 2730588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $5,315,945) <br>|  | &nbsp;&nbsp;&nbsp; 4905279 |
| **Foreign Government—0.0%** | **Foreign Government—0.0%** | **Foreign Government—0.0%** |
| **Sovereign — 0.0%** | **Sovereign — 0.0%** | **Sovereign — 0.0%** |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/22/35 <br>(Cost $283,669)<br>| 285000 | &nbsp;&nbsp;&nbsp; 283592 |
| **Municipals—0.0%** | **Municipals—0.0%** | **Municipals—0.0%** |
| Texas Natural Gas Securitization Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.169%, 04/01/41 <br>(Cost $155,000)<br>| 155000 | &nbsp;&nbsp;&nbsp; 157896 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—15.7%** | **Short-Term Investments—15.7%** | **Short-Term Investments—15.7%** |
| **Repurchase Agreement—13.8%** | **Repurchase Agreement—13.8%** | **Repurchase Agreement—13.8%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $199,135,908; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $203,101,841<br>| 199119315 | &nbsp;&nbsp;&nbsp; 199119315 |
| **U.S. Treasury—1.9%** | **U.S. Treasury—1.9%** | **U.S. Treasury—1.9%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 11/28/25 (h) (i) | 27000000 | &nbsp;&nbsp;&nbsp; 26826022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.134%, 12/02/25 (a) (i) (j) | 436000 | &nbsp;&nbsp;&nbsp; 433075 |
|  |  | &nbsp;&nbsp;&nbsp; 27259097 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investment Funds—0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Global Advisors Liquidity PLC - US Treasury Liquidity <br> Fund<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.957% (k) | 29053 | &nbsp;&nbsp;&nbsp; 29053 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $226,411,914) <br>|  | &nbsp;&nbsp;&nbsp; 226407465 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (l)—3.5%** | **Securities Lending Reinvestments (l)—3.5%** | **Securities Lending Reinvestments (l)—3.5%** |
| **Short-Term Investment Funds—0.4%** | **Short-Term Investment Funds—0.4%** | **Short-Term Investment Funds—0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (k)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (k)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (k)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (k)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (k)<br>| 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 5000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—0.1%** | **Certificates of Deposit—0.1%** | **Certificates of Deposit—0.1%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 999998 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (e) | 1000000 | &nbsp;&nbsp;&nbsp; 1000055 |
|  |  | &nbsp;&nbsp;&nbsp; 2000053 |
| **Repurchase Agreements—2.4%** | **Repurchase Agreements—2.4%** | **Repurchase Agreements—2.4%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $2,000,233; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 5.000%, maturity dates ranging from <br> 11/30/25 - 02/15/52, and an aggregate market value of <br> $2,040,000<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $1,080,627; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,201,879<br>| 1080500 | &nbsp;&nbsp;&nbsp; 1080500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $3,000,356; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $2,000,232; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $2,040,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $2,047,836; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,200,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $1,700,196; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 4.625%, maturity dates ranging from <br> 10/28/25 - 05/15/35, and an aggregate market value of <br> $1,734,000<br>| 1700000 | &nbsp;&nbsp;&nbsp; 1700000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $990,344; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $1,010,033<br>| 990229 | &nbsp;&nbsp;&nbsp; 990229 |

---

**BHFTI-196**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (l)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $3,000,357; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,345,282<br>| 3000000 | &nbsp;&nbsp;&nbsp; $3000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $4,000,476; <br> collateralized by various Common Stock with an aggregate <br> market value of $4,460,377<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $1,000,836; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $1,112,188<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 6.750%, maturity dates ranging from <br> 10/31/25 - 05/15/55, and an aggregate market value of <br> $2,040,238<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $2,008,478; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,222,491<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $1,800,204; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 05/31/26 - 07/15/30, and an aggregate market value of <br> $1,836,000<br>| 1800000 | &nbsp;&nbsp;&nbsp; 1800000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $3,000,355; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,337,326<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $3,500,408; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,850,448<br>| 3500000 | &nbsp;&nbsp;&nbsp; 3500000 |
|  |  | &nbsp;&nbsp;&nbsp; 35070729 |
| **Time Deposits—0.6%** | **Time Deposits—0.6%** | **Time Deposits—0.6%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 9000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $51,070,729) <br>|  | &nbsp;&nbsp;&nbsp; 51070782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—101.6% <br>(Cost $1,316,473,730) <br>|  | &nbsp;&nbsp;&nbsp; 1465523032 |
| Other assets and liabilities (net)—(1.6)%  |  | &nbsp;&nbsp;&nbsp; (23385139)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1442137893 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Principal amount stated in U.S. dollars unless otherwise noted. |
| † | Restricted securities are not registered under the Securities Act of 1933 and are subject to <br> legal restrictions on resale. These securities generally may be resold in transactions exempt <br> from registration or to the public if the securities are subsequently registered. Disposal of <br> these securities may involve time-consuming negotiations and prompt sale at an acceptable <br> price may be difficult. As of September 30, 2025, the market value of restricted securities <br> was $0, which is 0.0% of net assets. See details shown in the Restricted Securities table that <br> follows.<br>|
| (a) | All or a portion of the security was held on loan. As of September 30, 2025, the market value <br> of securities loaned was $58,566,987 and the collateral received consisted of cash in the <br> amount of $51,070,729 and non-cash collateral with a value of $9,986,799. The cash <br> collateral investments are disclosed in the Consolidated Schedule of Investments and <br> categorized as Securities Lending Reinvestments. The non-cash collateral received consists of <br> U.S. government securities that are held in safe-keeping by the lending agent, or a third-<br> party custodian, and cannot be sold or repledged by the Portfolio.<br>|
| (b) | Non-income producing security. |
| (c) | Security was valued in good faith under procedures subject to oversight by the Board of <br> Trustees. As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (d) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. <br> Level 3.<br>|
| (e) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (f) | Security is a "step up" bond where coupon increases or steps up at a predetermined date. <br> Rate shown is current coupon rate.<br>|
| (g) | Interest only security. |
| (h) | All or a portion of the security was pledged as collateral against open centrally cleared swap <br> contracts. As of September 30, 2025, the market value of securities pledged was <br> $21,081,279.<br>|
| (i) | The rate shown represents current yield to maturity. |
| (j) | All or a portion of the security was pledged as collateral against open futures contracts. As of <br> September 30, 2025, the market value of securities pledged was $399,303.<br>|
| (k) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (l) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|

---

**BHFTI-197**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025, the market value of 144A securities
 was $94,401,395, which is 6.5% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Country Diversification as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| United States | 52.1 |
| China | 5.1 |
| France | 3.2 |
| Japan | 2.9 |
| Germany | 2.8 |
| United Kingdom | 2.7 |
| South Korea | 1.7 |
| Spain | 1.6 |
| Taiwan | 1.4 |
| Netherlands | 1.2 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Shares** | **Cost** | **Value** |
| Sberbank of Russia PJSC | 06/15/17 | &nbsp;&nbsp; 2160 | &nbsp;&nbsp; $5440 | &nbsp;&nbsp; $0 |

---

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Australian 10 Year Treasury Bond Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; 582 | AUD | 65970660 | &nbsp;&nbsp;&nbsp; $(54466)<br>|
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 4 | EUR | 221640 | &nbsp;&nbsp;&nbsp; 4621 |
| Euro-BTP Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 427 | EUR | 51171680 | &nbsp;&nbsp;&nbsp; 683678 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 18 | GBP | 1693350 | &nbsp;&nbsp;&nbsp; 23760 |
| Hang Seng Index Futures | &nbsp;&nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp;&nbsp; 173 | HKD | 232788800 | &nbsp;&nbsp;&nbsp; 565340 |
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 343 | USD | 115569562 | &nbsp;&nbsp;&nbsp; 1593040 |
| TOPIX Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; 73 | JPY | 2292930000 | &nbsp;&nbsp;&nbsp; (8709)<br>|
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 585 | GBP | 53141400 | &nbsp;&nbsp;&nbsp; 130641 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 46 | USD | 5363313 | &nbsp;&nbsp;&nbsp; 90081 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 51 | USD | 10628320 | &nbsp;&nbsp;&nbsp; 4824 |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 382 | USD | 42975000 | &nbsp;&nbsp;&nbsp; (12676)<br>|
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 43 | USD | 5162688 | &nbsp;&nbsp;&nbsp; 89584 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| Euro-Bund Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (316)<br>| EUR | (40628120)<br>| &nbsp;&nbsp;&nbsp; (100142)<br>|
| Euro-Schatz Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (57)<br>| EUR | (6097860)<br>| &nbsp;&nbsp;&nbsp; (54)<br>|
| Japanese Government Bond 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (79)<br>| JPY | (10727410000)<br>| &nbsp;&nbsp;&nbsp; 556828 |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (80)<br>| USD | (5438800)<br>| &nbsp;&nbsp;&nbsp; (94958)<br>|
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (66)<br>| USD | (8103150)<br>| &nbsp;&nbsp;&nbsp; (130949)<br>|
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (97)<br>| USD | (10591945)<br>| &nbsp;&nbsp;&nbsp; (3841)<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (42)<br>| USD | (4833281)<br>| &nbsp;&nbsp;&nbsp; (13421)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $3323181 |

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 12M SOFR | Annually | 3.691<br> %<br>| Annually | 02/29/36 | USD | 124000000 | &nbsp;&nbsp; $137542 | &nbsp;&nbsp; $(77184)<br>| &nbsp;&nbsp; $214726 |
| Pay | 12M SOFR | Annually | 3.891<br> %<br>| Annually | 09/10/35 | USD | 65000000 | &nbsp;&nbsp; 1280125 | &nbsp;&nbsp; (40695)<br>| &nbsp;&nbsp; 1320820 |
| Pay | 12M SOFR | Annually | 3.902<br> %<br>| Annually | 12/14/35 | USD | 100500000 | &nbsp;&nbsp; 2003407 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2003407 |
| Pay | 12M SOFR | Annually | 4.068<br> %<br>| Annually | 06/29/35 | USD | 78100000 | &nbsp;&nbsp; 2718514 | &nbsp;&nbsp; (90417)<br>| &nbsp;&nbsp; 2808931 |

---

**BHFTI-198**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Centrally Cleared Interest Rate Swap Contracts — (Continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive**<br> **Floating Rate** <br>| **Floating**<br> **Rate Index** <br>| **Payment**<br> **Frequency** <br>| **Fixed**<br> **Rate** <br>| **Payment**<br> **Frequency** <br>| **Maturity**<br> **Date** <br>| **Notional**<br> **Amount**  | **Notional**<br> **Amount**  | **Market**<br> **Value** <br>| **Upfront**<br> **Premiums**<br> **Paid/(Received)** <br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** <br>|
| Pay | 12M SOFR | Annually | 4.165<br> %<br>| Annually | 06/29/35 | USD | 45900000 | &nbsp;&nbsp; $1958836 | &nbsp;&nbsp; $(44698)<br>| &nbsp;&nbsp; $2003534 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $8098424 | &nbsp;&nbsp; $(252994)<br>| &nbsp;&nbsp; $8351418 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp; $4108714 | &nbsp;&nbsp;&nbsp; $8951653 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $13060367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp;&nbsp; 786662 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 786662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp; 458771 | &nbsp;&nbsp;&nbsp; 3352962 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3811733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp;&nbsp; 5470946 | &nbsp;&nbsp;&nbsp; 2350317 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7821263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; 25004188 | &nbsp;&nbsp;&nbsp; 33608554 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 58612742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; 5428775 | &nbsp;&nbsp;&nbsp; 4923025 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10351800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp; 9482128 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9482128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp; 20591614 | &nbsp;&nbsp;&nbsp; 3559771 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24151385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp; 4963359 | &nbsp;&nbsp;&nbsp; 898010 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5861369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp; 15656419 | &nbsp;&nbsp;&nbsp; 14470265 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30126684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; 2731646 | &nbsp;&nbsp;&nbsp; 4866709 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7598355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp; 478391 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 478391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp; 878034 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 878034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp; 2108155 | &nbsp;&nbsp;&nbsp; 1417032 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3525187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp; 1043995 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1043995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp; 4729010 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4729010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp; 2159250 | &nbsp;&nbsp;&nbsp; 3019137 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5178387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp; 2598553 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2598553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp; 2227559 | &nbsp;&nbsp;&nbsp; 4803910 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7031469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp; 8746584 | &nbsp;&nbsp;&nbsp; 3430182 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12176766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp; 6499960 | &nbsp;&nbsp;&nbsp; 3135887 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9635847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp; 1875087 | &nbsp;&nbsp;&nbsp; 5747064 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7622151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp; 4259100 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4259100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; 11839544 | &nbsp;&nbsp;&nbsp; 3237266 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15076810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 11451737 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11451737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp; 661754 | &nbsp;&nbsp;&nbsp; 4793962 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5455716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp; 2244721 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2244721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; 3579549 | &nbsp;&nbsp;&nbsp; 3139535 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6719084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; 9037513 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9037513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp;&nbsp; 676551 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 676551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 15093880 | &nbsp;&nbsp;&nbsp; 3920728 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19014608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp;&nbsp; 1016945 | &nbsp;&nbsp;&nbsp; 8763188 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9780133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp; 663922 | &nbsp;&nbsp;&nbsp; 42813 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 706735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp;&nbsp; 775255 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 775255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp;&nbsp; 1958682 | &nbsp;&nbsp;&nbsp; 6632365 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8591047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp;&nbsp; 256937 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 256937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 6941833 | &nbsp;&nbsp;&nbsp; 15741843 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22683676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; 19202787 | &nbsp;&nbsp;&nbsp; 5776275 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24979062 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 5230251 | &nbsp;&nbsp;&nbsp; 2809454 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8039705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp; 2569417 | &nbsp;&nbsp;&nbsp; 1832875 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4402292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 2578418 | &nbsp;&nbsp;&nbsp; 13127505 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15705923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; 782711 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 782711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2033373 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2033373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp; 2070241 | &nbsp;&nbsp;&nbsp; 1583310 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3653551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 11419065 | &nbsp;&nbsp;&nbsp; 4546019 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15965084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp;&nbsp; 386909 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 386909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1821793 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1821793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; 11259588 | &nbsp;&nbsp;&nbsp; 10314095 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21573683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp; 469419 | &nbsp;&nbsp;&nbsp; 4295029 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4764448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp; 651353 | &nbsp;&nbsp;&nbsp; 1719470 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2370823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | &nbsp;&nbsp;&nbsp; 1364976 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1364976 |

---

**BHFTI-199**

------

**Brighthouse Funds Trust I**

**JPMorgan Global Active Allocation Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp;&nbsp; $757431 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $757431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 36895949 | &nbsp;&nbsp;&nbsp; 27475503 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 64371452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 32689237 | &nbsp;&nbsp;&nbsp; 2191889 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34881126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; 5045491 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5045491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; 12875552 | &nbsp;&nbsp;&nbsp; 1097466 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13973018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp; 20699594 | &nbsp;&nbsp;&nbsp; 687219 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21386813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp; 706210 | &nbsp;&nbsp;&nbsp; 5174911 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5881121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp; 1304412 | &nbsp;&nbsp;&nbsp; 1199265 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2503677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1788430 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1788430 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 367444734 | &nbsp;&nbsp;&nbsp; 234280059 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 601724793 |
| Total Convertible Bonds\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 272837806 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 272837806 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 166071023 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 166071023 |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43827719 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43827719 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40476702 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40476702 |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; 28284618 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28284618 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17287182 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17287182 |
| Total Convertible Preferred Stocks\* | &nbsp;&nbsp;&nbsp; 12188175 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12188175 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4905279 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4905279 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 283592 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 283592 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 157896 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 157896 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 199119315 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 199119315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 29053 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29053 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27259097 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27259097 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp; 29053 | &nbsp;&nbsp;&nbsp; 226378412 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 226407465 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2000053 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2000053 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 35070729 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 35070729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; 46070782 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 51070782 |
| Total Investments | &nbsp;&nbsp;&nbsp; $412946580 | &nbsp;&nbsp;&nbsp; $1052576452 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1465523032 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(51070729)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(51070729)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $3742397 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3742397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (419216)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (419216)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $3323181 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3323181 |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $8351418 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $8351418 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Consolidated Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-200**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—97.4% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| Mercury Systems, Inc. (a) | 9559 | &nbsp;&nbsp;&nbsp; $739866 |
| StandardAero, Inc. (a) | 11603 | &nbsp;&nbsp;&nbsp; 316646 |
| V2X, Inc. (a) | 11396 | &nbsp;&nbsp;&nbsp; 661994 |
|  |  | &nbsp;&nbsp;&nbsp; 1718506 |
| **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** |
| Radiant Logistics, Inc. (a) | 43975 | &nbsp;&nbsp;&nbsp; 259453 |
| **Automobile Components — 2.1%** | **Automobile Components — 2.1%** | **Automobile Components — 2.1%** |
| Adient PLC (a) | 79662 | &nbsp;&nbsp;&nbsp; 1918261 |
| Dana, Inc.  | 68156 | &nbsp;&nbsp;&nbsp; 1365846 |
| Garrett Motion, Inc.  | 75227 | &nbsp;&nbsp;&nbsp; 1024592 |
| Modine Manufacturing Co. (a) (b) | 10508 | &nbsp;&nbsp;&nbsp; 1493817 |
| Phinia, Inc.  | 20017 | &nbsp;&nbsp;&nbsp; 1150577 |
|  |  | &nbsp;&nbsp;&nbsp; 6953093 |
| **Banks — 17.3%** | **Banks — 17.3%** | **Banks — 17.3%** |
| 1st Source Corp.  | 3486 | &nbsp;&nbsp;&nbsp; 214598 |
| Amalgamated Financial Corp.  | 5632 | &nbsp;&nbsp;&nbsp; 152909 |
| Amerant Bancorp, Inc.  | 20672 | &nbsp;&nbsp;&nbsp; 398349 |
| Ameris Bancorp | 27484 | &nbsp;&nbsp;&nbsp; 2014852 |
| Associated Banc-Corp.  | 6113 | &nbsp;&nbsp;&nbsp; 157165 |
| Atlantic Union Bankshares Corp. (b) | 7746 | &nbsp;&nbsp;&nbsp; 273356 |
| Axos Financial, Inc. (a) | 13578 | &nbsp;&nbsp;&nbsp; 1149378 |
| Banc of California, Inc.  | 86664 | &nbsp;&nbsp;&nbsp; 1434289 |
| Bank of NT Butterfield & Son Ltd.  | 41645 | &nbsp;&nbsp;&nbsp; 1787403 |
| BankUnited, Inc.  | 24237 | &nbsp;&nbsp;&nbsp; 924884 |
| BayCom Corp.  | 2297 | &nbsp;&nbsp;&nbsp; 66039 |
| Beacon Financial Corp.  | 19544 | &nbsp;&nbsp;&nbsp; 463388 |
| Bridgewater Bancshares, Inc. (a) | 9478 | &nbsp;&nbsp;&nbsp; 166813 |
| Burke & Herbert Financial Services Corp.  | 2885 | &nbsp;&nbsp;&nbsp; 177976 |
| Business First Bancshares, Inc.  | 24712 | &nbsp;&nbsp;&nbsp; 583450 |
| Byline Bancorp, Inc.  | 44661 | &nbsp;&nbsp;&nbsp; 1238450 |
| Cadence Bank | 9573 | &nbsp;&nbsp;&nbsp; 359370 |
| Capital City Bank Group, Inc.  | 4769 | &nbsp;&nbsp;&nbsp; 199296 |
| Capitol Federal Financial, Inc.  | 46078 | &nbsp;&nbsp;&nbsp; 292595 |
| Central Pacific Financial Corp.  | 14227 | &nbsp;&nbsp;&nbsp; 431647 |
| ChoiceOne Financial Services, Inc.  | 3781 | &nbsp;&nbsp;&nbsp; 109498 |
| CNB Financial Corp.  | 19388 | &nbsp;&nbsp;&nbsp; 469190 |
| Community Trust Bancorp, Inc.  | 4465 | &nbsp;&nbsp;&nbsp; 249817 |
| ConnectOne Bancorp, Inc.  | 56545 | &nbsp;&nbsp;&nbsp; 1402881 |
| Customers Bancorp, Inc. (a) | 30407 | &nbsp;&nbsp;&nbsp; 1987706 |
| Dime Community Bancshares, Inc.  | 7780 | &nbsp;&nbsp;&nbsp; 232077 |
| Eastern Bankshares, Inc.  | 109596 | &nbsp;&nbsp;&nbsp; 1989167 |
| Enterprise Financial Services Corp.  | 34601 | &nbsp;&nbsp;&nbsp; 2006166 |
| Equity Bancshares, Inc. - Class A | 31447 | &nbsp;&nbsp;&nbsp; 1279893 |
| FB Financial Corp.  | 4808 | &nbsp;&nbsp;&nbsp; 267998 |
| Financial Institutions, Inc.  | 21712 | &nbsp;&nbsp;&nbsp; 590566 |
| First BanCorp | 48489 | &nbsp;&nbsp;&nbsp; 1069182 |
| First Busey Corp.  | 5838 | &nbsp;&nbsp;&nbsp; 135150 |
| First Commonwealth Financial Corp.  | 5703 | &nbsp;&nbsp;&nbsp; 97236 |
| First Financial Bancorp | 10583 | &nbsp;&nbsp;&nbsp; 267221 |
| First Financial Corp.  | 10722 | &nbsp;&nbsp;&nbsp; 605150 |
| First Interstate BancSystem, Inc. - Class A | 6305 | &nbsp;&nbsp;&nbsp; 200940 |
| First Merchants Corp.  | 30268 | &nbsp;&nbsp;&nbsp; 1141104 |
| First Mid Bancshares, Inc.  | 20892 | &nbsp;&nbsp;&nbsp; 791389 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Hancock Whitney Corp.  | 18889 | &nbsp;&nbsp;&nbsp; $1182640 |
| Hanmi Financial Corp.  | 23482 | &nbsp;&nbsp;&nbsp; 579771 |
| HBT Financial, Inc.  | 2691 | &nbsp;&nbsp;&nbsp; 67813 |
| Heritage Commerce Corp.  | 112684 | &nbsp;&nbsp;&nbsp; 1118952 |
| Hilltop Holdings, Inc.  | 34350 | &nbsp;&nbsp;&nbsp; 1147977 |
| Home BancShares, Inc.  | 11740 | &nbsp;&nbsp;&nbsp; 332242 |
| HomeTrust Bancshares, Inc.  | 7770 | &nbsp;&nbsp;&nbsp; 318104 |
| Horizon Bancorp, Inc.  | 22978 | &nbsp;&nbsp;&nbsp; 367878 |
| Independent Bank Corp.  | 11474 | &nbsp;&nbsp;&nbsp; 793657 |
| Mercantile Bank Corp.  | 14223 | &nbsp;&nbsp;&nbsp; 640035 |
| Metropolitan Bank Holding Corp.  | 12536 | &nbsp;&nbsp;&nbsp; 937944 |
| Mid Penn Bancorp, Inc.  | 3129 | &nbsp;&nbsp;&nbsp; 89615 |
| Midland States Bancorp, Inc.  | 5196 | &nbsp;&nbsp;&nbsp; 89059 |
| MidWestOne Financial Group, Inc.  | 9447 | &nbsp;&nbsp;&nbsp; 267256 |
| National Bank Holdings Corp. - Class A | 8906 | &nbsp;&nbsp;&nbsp; 344128 |
| Northrim BanCorp, Inc.  | 10782 | &nbsp;&nbsp;&nbsp; 233538 |
| OceanFirst Financial Corp.  | 64361 | &nbsp;&nbsp;&nbsp; 1130823 |
| OFG Bancorp | 28801 | &nbsp;&nbsp;&nbsp; 1252555 |
| Old National Bancorp | 121793 | &nbsp;&nbsp;&nbsp; 2673356 |
| Old Second Bancorp, Inc.  | 69668 | &nbsp;&nbsp;&nbsp; 1204211 |
| Origin Bancorp, Inc.  | 10623 | &nbsp;&nbsp;&nbsp; 366706 |
| Orrstown Financial Services, Inc.  | 3880 | &nbsp;&nbsp;&nbsp; 131842 |
| Pathward Financial, Inc.  | 16015 | &nbsp;&nbsp;&nbsp; 1185270 |
| Peapack-Gladstone Financial Corp.  | 10505 | &nbsp;&nbsp;&nbsp; 289938 |
| Pinnacle Financial Partners, Inc.  | 1273 | &nbsp;&nbsp;&nbsp; 119395 |
| Provident Financial Services, Inc.  | 9451 | &nbsp;&nbsp;&nbsp; 182215 |
| QCR Holdings, Inc.  | 22681 | &nbsp;&nbsp;&nbsp; 1715591 |
| Renasant Corp.  | 20212 | &nbsp;&nbsp;&nbsp; 745621 |
| Seacoast Banking Corp. of Florida | 9341 | &nbsp;&nbsp;&nbsp; 284247 |
| Sierra Bancorp | 4628 | &nbsp;&nbsp;&nbsp; 133795 |
| Simmons First National Corp. - Class A | 17470 | &nbsp;&nbsp;&nbsp; 334900 |
| SmartFinancial, Inc.  | 3847 | &nbsp;&nbsp;&nbsp; 137453 |
| South Plains Financial, Inc.  | 26507 | &nbsp;&nbsp;&nbsp; 1024496 |
| Southern Missouri Bancorp, Inc.  | 3641 | &nbsp;&nbsp;&nbsp; 191371 |
| Southside Bancshares, Inc.  | 14615 | &nbsp;&nbsp;&nbsp; 412874 |
| Southstate Bank Corp.  | 7822 | &nbsp;&nbsp;&nbsp; 773361 |
| Texas Capital Bancshares, Inc. (a) | 7342 | &nbsp;&nbsp;&nbsp; 620619 |
| Towne Bank | 16087 | &nbsp;&nbsp;&nbsp; 556128 |
| TriCo Bancshares | 10434 | &nbsp;&nbsp;&nbsp; 463374 |
| Trustmark Corp.  | 5065 | &nbsp;&nbsp;&nbsp; 200574 |
| UMB Financial Corp.  | 12493 | &nbsp;&nbsp;&nbsp; 1478547 |
| United Bankshares, Inc.  | 15114 | &nbsp;&nbsp;&nbsp; 562392 |
| United Community Banks, Inc.  | 4004 | &nbsp;&nbsp;&nbsp; 125525 |
| Unity Bancorp, Inc.  | 1034 | &nbsp;&nbsp;&nbsp; 50532 |
| Univest Financial Corp.  | 7254 | &nbsp;&nbsp;&nbsp; 217765 |
| Veritex Holdings, Inc.  | 12554 | &nbsp;&nbsp;&nbsp; 420936 |
| WesBanco, Inc.  | 25186 | &nbsp;&nbsp;&nbsp; 804189 |
| Wintrust Financial Corp.  | 5360 | &nbsp;&nbsp;&nbsp; 709878 |
| WSFS Financial Corp.  | 9575 | &nbsp;&nbsp;&nbsp; 516380 |
|  |  | &nbsp;&nbsp;&nbsp; 56906006 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| MGP Ingredients, Inc. (b) | 15482 | &nbsp;&nbsp;&nbsp; 374510 |
| **Biotechnology — 4.8%** | **Biotechnology — 4.8%** | **Biotechnology — 4.8%** |
| Agios Pharmaceuticals, Inc. (a) | 20233 | &nbsp;&nbsp;&nbsp; 812153 |

---

**BHFTI-201**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Biotechnology—(Continued)** | **Biotechnology—(Continued)** | **Biotechnology—(Continued)** |
| Akebia Therapeutics, Inc. (a) | 145841 | &nbsp;&nbsp;&nbsp; $398146 |
| Akero Therapeutics, Inc. (a) | 7449 | &nbsp;&nbsp;&nbsp; 353678 |
| Aurinia Pharmaceuticals, Inc. (a) | 38270 | &nbsp;&nbsp;&nbsp; 422883 |
| Avidity Biosciences, Inc. (a) | 5917 | &nbsp;&nbsp;&nbsp; 257804 |
| Beam Therapeutics, Inc. (a) (b) | 36888 | &nbsp;&nbsp;&nbsp; 895272 |
| Biohaven Ltd. (a) | 935 | &nbsp;&nbsp;&nbsp; 14034 |
| Celldex Therapeutics, Inc. (a) | 13936 | &nbsp;&nbsp;&nbsp; 360524 |
| Cidara Therapeutics, Inc. (a) | 3749 | &nbsp;&nbsp;&nbsp; 359004 |
| Compass Therapeutics, Inc. (a) (b) | 315258 | &nbsp;&nbsp;&nbsp; 1103403 |
| CRISPR Therapeutics AG (a) (b) | 27833 | &nbsp;&nbsp;&nbsp; 1803857 |
| Cytokinetics, Inc. (a) | 24523 | &nbsp;&nbsp;&nbsp; 1347784 |
| Denali Therapeutics, Inc. (a) | 9425 | &nbsp;&nbsp;&nbsp; 136851 |
| Enanta Pharmaceuticals, Inc. (a) | 18280 | &nbsp;&nbsp;&nbsp; 218812 |
| Erasca, Inc. (a) (b) | 194426 | &nbsp;&nbsp;&nbsp; 423849 |
| GRAIL, Inc. (a) | 7397 | &nbsp;&nbsp;&nbsp; 437385 |
| Intellia Therapeutics, Inc. (a) (b) | 18714 | &nbsp;&nbsp;&nbsp; 323191 |
| ORIC Pharmaceuticals, Inc. (a) (b) | 89934 | &nbsp;&nbsp;&nbsp; 1079208 |
| Praxis Precision Medicines, Inc. (a) | 2562 | &nbsp;&nbsp;&nbsp; 135786 |
| PTC Therapeutics, Inc. (a) | 12320 | &nbsp;&nbsp;&nbsp; 756078 |
| Relay Therapeutics, Inc. (a) | 64398 | &nbsp;&nbsp;&nbsp; 336157 |
| Sana Biotechnology, Inc. (a) (b) | 229802 | &nbsp;&nbsp;&nbsp; 815797 |
| Syndax Pharmaceuticals, Inc. (a) | 29825 | &nbsp;&nbsp;&nbsp; 458858 |
| Travere Therapeutics, Inc. (a) | 28032 | &nbsp;&nbsp;&nbsp; 669965 |
| Upstream Bio, Inc. (a) | 2763 | &nbsp;&nbsp;&nbsp; 51972 |
| Vaxcyte, Inc. (a) | 29167 | &nbsp;&nbsp;&nbsp; 1050595 |
| Viridian Therapeutics, Inc. (a) (b) | 35381 | &nbsp;&nbsp;&nbsp; 763522 |
|  |  | &nbsp;&nbsp;&nbsp; 15786568 |
| **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** |
| Kohl's Corp. (b) | 55482 | &nbsp;&nbsp;&nbsp; 852758 |
| **Building Products — 2.1%** | **Building Products — 2.1%** | **Building Products — 2.1%** |
| Apogee Enterprises, Inc.  | 15708 | &nbsp;&nbsp;&nbsp; 684398 |
| Griffon Corp.  | 20085 | &nbsp;&nbsp;&nbsp; 1529473 |
| Masterbrand, Inc. (a) | 71290 | &nbsp;&nbsp;&nbsp; 938889 |
| Resideo Technologies, Inc. (a) | 66037 | &nbsp;&nbsp;&nbsp; 2851478 |
| UFP Industries, Inc.  | 9727 | &nbsp;&nbsp;&nbsp; 909377 |
|  |  | &nbsp;&nbsp;&nbsp; 6913615 |
| **Capital Markets — 0.9%** | **Capital Markets — 0.9%** | **Capital Markets — 0.9%** |
| BGC Group, Inc. - Class A | 40625 | &nbsp;&nbsp;&nbsp; 384312 |
| Bullish (a) | 11620 | &nbsp;&nbsp;&nbsp; 739148 |
| DigitalBridge Group, Inc.  | 28535 | &nbsp;&nbsp;&nbsp; 333860 |
| Marex Group PLC | 13511 | &nbsp;&nbsp;&nbsp; 454240 |
| StoneX Group, Inc. (a) | 4926 | &nbsp;&nbsp;&nbsp; 497132 |
| Virtus Investment Partners, Inc.  | 2578 | &nbsp;&nbsp;&nbsp; 489897 |
|  |  | &nbsp;&nbsp;&nbsp; 2898589 |
| **Chemicals — 2.0%** | **Chemicals — 2.0%** | **Chemicals — 2.0%** |
| Avient Corp.  | 15919 | &nbsp;&nbsp;&nbsp; 524531 |
| Ecovyst, Inc. (a) | 10599 | &nbsp;&nbsp;&nbsp; 92847 |
| HB Fuller Co.  | 30441 | &nbsp;&nbsp;&nbsp; 1804542 |
| Innospec, Inc.  | 9061 | &nbsp;&nbsp;&nbsp; 699147 |
| Mativ Holdings, Inc.  | 72770 | &nbsp;&nbsp;&nbsp; 823029 |
| Minerals Technologies, Inc.  | 5233 | &nbsp;&nbsp;&nbsp; 325074 |
| Perimeter Solutions, Inc. (a) | 72618 | &nbsp;&nbsp;&nbsp; 1625917 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Chemicals—(Continued)** | **Chemicals—(Continued)** | **Chemicals—(Continued)** |
| Quaker Chemical Corp.  | 5545 | &nbsp;&nbsp;&nbsp; $730554 |
|  |  | &nbsp;&nbsp;&nbsp; 6625641 |
| **Commercial Services & Supplies — 1.2%** | **Commercial Services & Supplies — 1.2%** | **Commercial Services & Supplies — 1.2%** |
| ABM Industries, Inc.  | 31388 | &nbsp;&nbsp;&nbsp; 1447615 |
| ACCO Brands Corp.  | 20960 | &nbsp;&nbsp;&nbsp; 83630 |
| Healthcare Services Group, Inc. (a) | 45260 | &nbsp;&nbsp;&nbsp; 761726 |
| MillerKnoll, Inc.  | 33202 | &nbsp;&nbsp;&nbsp; 589003 |
| OPENLANE, Inc. (a) | 10747 | &nbsp;&nbsp;&nbsp; 309299 |
| Steelcase, Inc. - Class A | 50521 | &nbsp;&nbsp;&nbsp; 868961 |
|  |  | &nbsp;&nbsp;&nbsp; 4060234 |
| **Communications Equipment — 0.5%** | **Communications Equipment — 0.5%** | **Communications Equipment — 0.5%** |
| NETGEAR, Inc. (a) | 30991 | &nbsp;&nbsp;&nbsp; 1003798 |
| Viasat, Inc. (a) | 25843 | &nbsp;&nbsp;&nbsp; 757200 |
|  |  | &nbsp;&nbsp;&nbsp; 1760998 |
| **Construction & Engineering — 2.2%** | **Construction & Engineering — 2.2%** | **Construction & Engineering — 2.2%** |
| API Group Corp. (a) | 14955 | &nbsp;&nbsp;&nbsp; 514004 |
| Arcosa, Inc.  | 11218 | &nbsp;&nbsp;&nbsp; 1051239 |
| Fluor Corp. (a) | 19618 | &nbsp;&nbsp;&nbsp; 825329 |
| MYR Group, Inc. (a) | 8287 | &nbsp;&nbsp;&nbsp; 1723945 |
| Primoris Services Corp.  | 12010 | &nbsp;&nbsp;&nbsp; 1649333 |
| Tutor Perini Corp. (a) | 22302 | &nbsp;&nbsp;&nbsp; 1462788 |
|  |  | &nbsp;&nbsp;&nbsp; 7226638 |
| **Consumer Finance — 1.2%** | **Consumer Finance — 1.2%** | **Consumer Finance — 1.2%** |
| Encore Capital Group, Inc. (a) | 7236 | &nbsp;&nbsp;&nbsp; 302031 |
| Enova International, Inc. (a) | 11296 | &nbsp;&nbsp;&nbsp; 1300056 |
| LendingClub Corp. (a) | 23475 | &nbsp;&nbsp;&nbsp; 356585 |
| Navient Corp.  | 37619 | &nbsp;&nbsp;&nbsp; 494690 |
| Nelnet, Inc. - Class A | 4234 | &nbsp;&nbsp;&nbsp; 530859 |
| PROG Holdings, Inc.  | 27638 | &nbsp;&nbsp;&nbsp; 894366 |
|  |  | &nbsp;&nbsp;&nbsp; 3878587 |
| **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** |
| Andersons, Inc.  | 7878 | &nbsp;&nbsp;&nbsp; 313623 |
| **Containers & Packaging — 0.6%** | **Containers & Packaging — 0.6%** | **Containers & Packaging — 0.6%** |
| Greif, Inc. - Class A | 16700 | &nbsp;&nbsp;&nbsp; 997992 |
| O-I Glass, Inc. (a) | 67017 | &nbsp;&nbsp;&nbsp; 869211 |
|  |  | &nbsp;&nbsp;&nbsp; 1867203 |
| **Distributors — 0.2%** | **Distributors — 0.2%** | **Distributors — 0.2%** |
| GigaCloud Technology, Inc. - Class A (a) | 28040 | &nbsp;&nbsp;&nbsp; 796336 |
| **Diversified Consumer Services — 0.8%** | **Diversified Consumer Services — 0.8%** | **Diversified Consumer Services — 0.8%** |
| Laureate Education, Inc. (a) | 30909 | &nbsp;&nbsp;&nbsp; 974870 |
| McGraw Hill, Inc. (a) | 88866 | &nbsp;&nbsp;&nbsp; 1115268 |
| Perdoceo Education Corp.  | 14112 | &nbsp;&nbsp;&nbsp; 531458 |
|  |  | &nbsp;&nbsp;&nbsp; 2621596 |
| **Diversified REITs — 1.8%** | **Diversified REITs — 1.8%** | **Diversified REITs — 1.8%** |
| Alexander & Baldwin, Inc.  | 73015 | &nbsp;&nbsp;&nbsp; 1328143 |
| American Assets Trust, Inc.  | 25095 | &nbsp;&nbsp;&nbsp; 509930 |

---

**BHFTI-202**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Diversified REITs—(Continued)** | **Diversified REITs—(Continued)** | **Diversified REITs—(Continued)** |
| Armada Hoffler Properties, Inc.  | 5276 | &nbsp;&nbsp;&nbsp; $36985 |
| Broadstone Net Lease, Inc.  | 108703 | &nbsp;&nbsp;&nbsp; 1942523 |
| Essential Properties Realty Trust, Inc.  | 67934 | &nbsp;&nbsp;&nbsp; 2021716 |
|  |  | &nbsp;&nbsp;&nbsp; 5839297 |
| **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** |
| Lumen Technologies, Inc. (a) | 25262 | &nbsp;&nbsp;&nbsp; 154603 |
| **Electric Utilities — 2.1%** | **Electric Utilities — 2.1%** | **Electric Utilities — 2.1%** |
| Genie Energy Ltd. - Class B | 4958 | &nbsp;&nbsp;&nbsp; 74122 |
| IDACORP, Inc.  | 11683 | &nbsp;&nbsp;&nbsp; 1543909 |
| Oklo, Inc. (a) (b) | 13192 | &nbsp;&nbsp;&nbsp; 1472623 |
| Otter Tail Corp.  | 21899 | &nbsp;&nbsp;&nbsp; 1795061 |
| Portland General Electric Co.  | 42524 | &nbsp;&nbsp;&nbsp; 1871056 |
|  |  | &nbsp;&nbsp;&nbsp; 6756771 |
| **Electrical Equipment — 1.2%** | **Electrical Equipment — 1.2%** | **Electrical Equipment — 1.2%** |
| Atkore, Inc.  | 17125 | &nbsp;&nbsp;&nbsp; 1074423 |
| EnerSys | 15314 | &nbsp;&nbsp;&nbsp; 1729869 |
| Sunrun, Inc. (a) | 49464 | &nbsp;&nbsp;&nbsp; 855233 |
| Thermon Group Holdings, Inc. (a) | 12307 | &nbsp;&nbsp;&nbsp; 328843 |
|  |  | &nbsp;&nbsp;&nbsp; 3988368 |
| **Electronic Equipment, Instruments & Components — 3.1%** | **Electronic Equipment, Instruments & Components — 3.1%** | **Electronic Equipment, Instruments & Components — 3.1%** |
| Benchmark Electronics, Inc.  | 16557 | &nbsp;&nbsp;&nbsp; 638272 |
| CTS Corp.  | 3187 | &nbsp;&nbsp;&nbsp; 127289 |
| Daktronics, Inc. (a) (b) | 34526 | &nbsp;&nbsp;&nbsp; 722284 |
| Kimball Electronics, Inc. (a) | 16892 | &nbsp;&nbsp;&nbsp; 504395 |
| Knowles Corp. (a) | 89450 | &nbsp;&nbsp;&nbsp; 2085080 |
| nLight, Inc. (a) | 7655 | &nbsp;&nbsp;&nbsp; 226818 |
| Plexus Corp. (a) | 4452 | &nbsp;&nbsp;&nbsp; 644160 |
| Sanmina Corp. (a) | 24882 | &nbsp;&nbsp;&nbsp; 2864167 |
| TTM Technologies, Inc. (a) | 23899 | &nbsp;&nbsp;&nbsp; 1376582 |
| Vishay Intertechnology, Inc.  | 27203 | &nbsp;&nbsp;&nbsp; 416206 |
| Vishay Precision Group, Inc. (a) | 18702 | &nbsp;&nbsp;&nbsp; 599399 |
|  |  | &nbsp;&nbsp;&nbsp; 10204652 |
| **Energy Equipment & Services — 1.8%** | **Energy Equipment & Services — 1.8%** | **Energy Equipment & Services — 1.8%** |
| Bristow Group, Inc. (a) | 17985 | &nbsp;&nbsp;&nbsp; 648899 |
| DMC Global, Inc. (a) | 13452 | &nbsp;&nbsp;&nbsp; 113669 |
| Forum Energy Technologies, Inc. (a) | 20713 | &nbsp;&nbsp;&nbsp; 553244 |
| Helix Energy Solutions Group, Inc. (a) | 14529 | &nbsp;&nbsp;&nbsp; 95310 |
| Liberty Energy, Inc.  | 93324 | &nbsp;&nbsp;&nbsp; 1151618 |
| Mammoth Energy Services, Inc. (a) | 28586 | &nbsp;&nbsp;&nbsp; 65462 |
| Noble Corp. PLC (b) | 10173 | &nbsp;&nbsp;&nbsp; 287693 |
| Oceaneering International, Inc. (a) | 8219 | &nbsp;&nbsp;&nbsp; 203667 |
| Oil States International, Inc. (a) | 86090 | &nbsp;&nbsp;&nbsp; 521705 |
| Patterson-UTI Energy, Inc.  | 57550 | &nbsp;&nbsp;&nbsp; 298109 |
| ProPetro Holding Corp. (a) | 75856 | &nbsp;&nbsp;&nbsp; 397486 |
| Ranger Energy Services, Inc. - Class A | 34308 | &nbsp;&nbsp;&nbsp; 481684 |
| Transocean Ltd. (a) | 294886 | &nbsp;&nbsp;&nbsp; 920044 |
| Valaris Ltd. (a) | 6427 | &nbsp;&nbsp;&nbsp; 313445 |
|  |  | &nbsp;&nbsp;&nbsp; 6052035 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| AMC Entertainment Holdings, Inc. - Class A (a) (b) | 122570 | &nbsp;&nbsp;&nbsp; $355453 |
| Cinemark Holdings, Inc. (b) | 5068 | &nbsp;&nbsp;&nbsp; 142005 |
| Sphere Entertainment Co. (a) | 6598 | &nbsp;&nbsp;&nbsp; 409868 |
|  |  | &nbsp;&nbsp;&nbsp; 907326 |
| **Financial Services — 3.8%** | **Financial Services — 3.8%** | **Financial Services — 3.8%** |
| Banco Latinoamericano de Comercio Exterior SA | 13248 | &nbsp;&nbsp;&nbsp; 609011 |
| Burford Capital Ltd.  | 40851 | &nbsp;&nbsp;&nbsp; 488578 |
| Compass Diversified Holdings | 6910 | &nbsp;&nbsp;&nbsp; 45744 |
| Enact Holdings, Inc.  | 15148 | &nbsp;&nbsp;&nbsp; 580774 |
| Essent Group Ltd.  | 28013 | &nbsp;&nbsp;&nbsp; 1780506 |
| HA Sustainable Infrastructure Capital, Inc. (b) | 30374 | &nbsp;&nbsp;&nbsp; 932482 |
| Jackson Financial, Inc. - Class A | 21833 | &nbsp;&nbsp;&nbsp; 2210155 |
| Merchants Bancorp | 10228 | &nbsp;&nbsp;&nbsp; 325250 |
| Mr. Cooper Group, Inc.  | 3642 | &nbsp;&nbsp;&nbsp; 767697 |
| NMI Holdings, Inc. (a) | 25514 | &nbsp;&nbsp;&nbsp; 978207 |
| PennyMac Financial Services, Inc. (b) | 10633 | &nbsp;&nbsp;&nbsp; 1317216 |
| Radian Group, Inc.  | 38398 | &nbsp;&nbsp;&nbsp; 1390776 |
| Walker & Dunlop, Inc.  | 13429 | &nbsp;&nbsp;&nbsp; 1122933 |
|  |  | &nbsp;&nbsp;&nbsp; 12549329 |
| **Food Products — 0.6%** | **Food Products — 0.6%** | **Food Products — 0.6%** |
| Cal-Maine Foods, Inc.  | 2979 | &nbsp;&nbsp;&nbsp; 280324 |
| Dole PLC | 61844 | &nbsp;&nbsp;&nbsp; 831184 |
| Fresh Del Monte Produce, Inc.  | 15124 | &nbsp;&nbsp;&nbsp; 525105 |
| TreeHouse Foods, Inc. (a) | 12068 | &nbsp;&nbsp;&nbsp; 243894 |
|  |  | &nbsp;&nbsp;&nbsp; 1880507 |
| **Gas Utilities — 1.9%** | **Gas Utilities — 1.9%** | **Gas Utilities — 1.9%** |
| Chesapeake Utilities Corp.  | 6664 | &nbsp;&nbsp;&nbsp; 897574 |
| New Jersey Resources Corp.  | 33492 | &nbsp;&nbsp;&nbsp; 1612640 |
| Southwest Gas Holdings, Inc.  | 41096 | &nbsp;&nbsp;&nbsp; 3219461 |
| Spire, Inc.  | 8247 | &nbsp;&nbsp;&nbsp; 672295 |
|  |  | &nbsp;&nbsp;&nbsp; 6401970 |
| **Ground Transportation — 0.2%** | **Ground Transportation — 0.2%** | **Ground Transportation — 0.2%** |
| ArcBest Corp.  | 7782 | &nbsp;&nbsp;&nbsp; 543728 |
| **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** |
| Alphatec Holdings, Inc. (a) | 58074 | &nbsp;&nbsp;&nbsp; 844396 |
| Beta Bionics, Inc. (a) (b) | 30854 | &nbsp;&nbsp;&nbsp; 613069 |
| Embecta Corp.  | 10462 | &nbsp;&nbsp;&nbsp; 147619 |
| Omnicell, Inc. (a) | 42275 | &nbsp;&nbsp;&nbsp; 1287274 |
| OraSure Technologies, Inc. (a) | 52638 | &nbsp;&nbsp;&nbsp; 168968 |
| Orthofix Medical, Inc. (a) | 33042 | &nbsp;&nbsp;&nbsp; 483735 |
| Varex Imaging Corp. (a) | 34866 | &nbsp;&nbsp;&nbsp; 432338 |
|  |  | &nbsp;&nbsp;&nbsp; 3977399 |
| **Health Care Providers & Services — 0.6%** | **Health Care Providers & Services — 0.6%** | **Health Care Providers & Services — 0.6%** |
| Enhabit, Inc. (a) | 41030 | &nbsp;&nbsp;&nbsp; 328651 |
| Fulgent Genetics, Inc. (a) | 5542 | &nbsp;&nbsp;&nbsp; 125249 |
| Pediatrix Medical Group, Inc. (a) | 82867 | &nbsp;&nbsp;&nbsp; 1388022 |
|  |  | &nbsp;&nbsp;&nbsp; 1841922 |

---

**BHFTI-203**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care REITs — 0.8%** | **Health Care REITs — 0.8%** | **Health Care REITs — 0.8%** |
| American Healthcare REIT, Inc.  | 1796 | &nbsp;&nbsp;&nbsp; $75450 |
| CareTrust REIT, Inc.  | 49458 | &nbsp;&nbsp;&nbsp; 1715203 |
| Community Healthcare Trust, Inc.  | 7201 | &nbsp;&nbsp;&nbsp; 110175 |
| Sabra Health Care REIT, Inc.  | 45443 | &nbsp;&nbsp;&nbsp; 847058 |
|  |  | &nbsp;&nbsp;&nbsp; 2747886 |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| Health Catalyst, Inc. (a) (b) | 39564 | &nbsp;&nbsp;&nbsp; 112757 |
| **Hotel & Resort REITs — 1.3%** | **Hotel & Resort REITs — 1.3%** | **Hotel & Resort REITs — 1.3%** |
| Chatham Lodging Trust | 95273 | &nbsp;&nbsp;&nbsp; 639282 |
| DiamondRock Hospitality Co.  | 131285 | &nbsp;&nbsp;&nbsp; 1045029 |
| RLJ Lodging Trust | 32945 | &nbsp;&nbsp;&nbsp; 237204 |
| Ryman Hospitality Properties, Inc.  | 9216 | &nbsp;&nbsp;&nbsp; 825661 |
| Xenia Hotels & Resorts, Inc.  | 104670 | &nbsp;&nbsp;&nbsp; 1436072 |
|  |  | &nbsp;&nbsp;&nbsp; 4183248 |
| **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** |
| Biglari Holdings, Inc. - Class B (a) | 2749 | &nbsp;&nbsp;&nbsp; 889714 |
| BJ's Restaurants, Inc. (a) | 7791 | &nbsp;&nbsp;&nbsp; 237859 |
| Black Rock Coffee Bar, Inc. - Class A (a) | 2352 | &nbsp;&nbsp;&nbsp; 56119 |
| Brightstar Lottery PLC (b) | 62141 | &nbsp;&nbsp;&nbsp; 1071932 |
| Jack in the Box, Inc. (b) | 23877 | &nbsp;&nbsp;&nbsp; 472048 |
| Marriott Vacations Worldwide Corp. (b) | 11754 | &nbsp;&nbsp;&nbsp; 782346 |
| United Parks & Resorts, Inc. (a) | 6628 | &nbsp;&nbsp;&nbsp; 342668 |
|  |  | &nbsp;&nbsp;&nbsp; 3852686 |
| **Household Durables — 2.8%** | **Household Durables — 2.8%** | **Household Durables — 2.8%** |
| Beazer Homes USA, Inc. (a) | 12292 | &nbsp;&nbsp;&nbsp; 301769 |
| Century Communities, Inc. (b) | 9459 | &nbsp;&nbsp;&nbsp; 599417 |
| Green Brick Partners, Inc. (a) (b) | 8531 | &nbsp;&nbsp;&nbsp; 630100 |
| KB Home | 21127 | &nbsp;&nbsp;&nbsp; 1344522 |
| LGI Homes, Inc. (a) | 2543 | &nbsp;&nbsp;&nbsp; 131498 |
| M/I Homes, Inc. (a) | 10910 | &nbsp;&nbsp;&nbsp; 1575840 |
| Meritage Homes Corp.  | 13472 | &nbsp;&nbsp;&nbsp; 975777 |
| Taylor Morrison Home Corp. (a) | 28740 | &nbsp;&nbsp;&nbsp; 1897127 |
| Tri Pointe Homes, Inc. (a) | 53815 | &nbsp;&nbsp;&nbsp; 1828096 |
|  |  | &nbsp;&nbsp;&nbsp; 9284146 |
| **Household Products — 0.2%** | **Household Products — 0.2%** | **Household Products — 0.2%** |
| Central Garden & Pet Co. (Non-Voting Shares) - Class A (a) | 22775 | &nbsp;&nbsp;&nbsp; 672546 |
| **Independent Power and Renewable Electricity Producers — 0.2%** | **Independent Power and Renewable Electricity Producers — 0.2%** | **Independent Power and Renewable Electricity Producers — 0.2%** |
| Clearway Energy, Inc. - Class A | 19174 | &nbsp;&nbsp;&nbsp; 516356 |
| Clearway Energy, Inc. - Class C | 4127 | &nbsp;&nbsp;&nbsp; 116588 |
|  |  | &nbsp;&nbsp;&nbsp; 632944 |
| **Industrial REITs — 0.5%** | **Industrial REITs — 0.5%** | **Industrial REITs — 0.5%** |
| LXP Industrial Trust | 136737 | &nbsp;&nbsp;&nbsp; 1225163 |
| Plymouth Industrial REIT, Inc.  | 24038 | &nbsp;&nbsp;&nbsp; 536769 |
|  |  | &nbsp;&nbsp;&nbsp; 1761932 |
| **Insurance — 1.3%** | **Insurance — 1.3%** | **Insurance — 1.3%** |
| CNO Financial Group, Inc.  | 41303 | &nbsp;&nbsp;&nbsp; 1633534 |
| Fidelis Insurance Holdings Ltd.  | 35497 | &nbsp;&nbsp;&nbsp; 644271 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Insurance—(Continued)** | **Insurance—(Continued)** | **Insurance—(Continued)** |
| Hamilton Insurance Group Ltd. - Class B (a) | 28233 | &nbsp;&nbsp;&nbsp; $700178 |
| Heritage Insurance Holdings, Inc. (a) | 4869 | &nbsp;&nbsp;&nbsp; 122601 |
| RLI Corp.  | 4945 | &nbsp;&nbsp;&nbsp; 322513 |
| Safety Insurance Group, Inc.  | 6422 | &nbsp;&nbsp;&nbsp; 453971 |
| Selective Insurance Group, Inc.  | 2040 | &nbsp;&nbsp;&nbsp; 165383 |
| SiriusPoint Ltd. (a) | 12961 | &nbsp;&nbsp;&nbsp; 234464 |
|  |  | &nbsp;&nbsp;&nbsp; 4276915 |
| **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** |
| Cars.com, Inc. (a) | 24402 | &nbsp;&nbsp;&nbsp; 298193 |
| QuinStreet, Inc. (a) | 4969 | &nbsp;&nbsp;&nbsp; 76870 |
| Shutterstock, Inc.  | 3848 | &nbsp;&nbsp;&nbsp; 80231 |
|  |  | &nbsp;&nbsp;&nbsp; 455294 |
| **IT Services — 0.6%** | **IT Services — 0.6%** | **IT Services — 0.6%** |
| ASGN, Inc. (a) | 12571 | &nbsp;&nbsp;&nbsp; 595237 |
| BigBear.ai Holdings, Inc. (a) (b) | 154349 | &nbsp;&nbsp;&nbsp; 1006356 |
| Unisys Corp. (a) | 88466 | &nbsp;&nbsp;&nbsp; 345017 |
|  |  | &nbsp;&nbsp;&nbsp; 1946610 |
| **Leisure Products — 0.8%** | **Leisure Products — 0.8%** | **Leisure Products — 0.8%** |
| Funko, Inc. - Class A (a) | 75993 | &nbsp;&nbsp;&nbsp; 261416 |
| MasterCraft Boat Holdings, Inc. (a) | 14127 | &nbsp;&nbsp;&nbsp; 303165 |
| Peloton Interactive, Inc. - Class A (a) (b) | 103287 | &nbsp;&nbsp;&nbsp; 929583 |
| Polaris, Inc. (b) | 10800 | &nbsp;&nbsp;&nbsp; 627804 |
| Topgolf Callaway Brands Corp. (a) | 49727 | &nbsp;&nbsp;&nbsp; 472407 |
|  |  | &nbsp;&nbsp;&nbsp; 2594375 |
| **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** |
| 10X Genomics, Inc. - Class A (a) | 68666 | &nbsp;&nbsp;&nbsp; 802705 |
| Cytek Biosciences, Inc. (a) (b) | 51119 | &nbsp;&nbsp;&nbsp; 177383 |
| Fortrea Holdings, Inc. (a) | 44611 | &nbsp;&nbsp;&nbsp; 375625 |
|  |  | &nbsp;&nbsp;&nbsp; 1355713 |
| **Machinery — 1.0%** | **Machinery — 1.0%** | **Machinery — 1.0%** |
| Blue Bird Corp. (a) | 9799 | &nbsp;&nbsp;&nbsp; 563932 |
| Hillenbrand, Inc.  | 17520 | &nbsp;&nbsp;&nbsp; 473741 |
| Hillman Solutions Corp. (a) | 73024 | &nbsp;&nbsp;&nbsp; 670360 |
| Mueller Industries, Inc.  | 8010 | &nbsp;&nbsp;&nbsp; 809891 |
| Terex Corp.  | 14060 | &nbsp;&nbsp;&nbsp; 721278 |
| Worthington Enterprises, Inc.  | 1338 | &nbsp;&nbsp;&nbsp; 74246 |
|  |  | &nbsp;&nbsp;&nbsp; 3313448 |
| **Marine Transportation — 0.6%** | **Marine Transportation — 0.6%** | **Marine Transportation — 0.6%** |
| Costamare Bulkers Holdings Ltd. (a) | 4294 | &nbsp;&nbsp;&nbsp; 61705 |
| Costamare, Inc.  | 80063 | &nbsp;&nbsp;&nbsp; 953550 |
| Matson, Inc. (b) | 6682 | &nbsp;&nbsp;&nbsp; 658778 |
| Safe Bulkers, Inc.  | 37615 | &nbsp;&nbsp;&nbsp; 167011 |
|  |  | &nbsp;&nbsp;&nbsp; 1841044 |
| **Media — 1.4%** | **Media — 1.4%** | **Media — 1.4%** |
| AMC Networks, Inc. - Class A (a) | 16151 | &nbsp;&nbsp;&nbsp; 133084 |
| EchoStar Corp. - Class A (a) | 31294 | &nbsp;&nbsp;&nbsp; 2389610 |
| Gray Media, Inc.  | 30630 | &nbsp;&nbsp;&nbsp; 177041 |
| John Wiley & Sons, Inc. - Class A | 18815 | &nbsp;&nbsp;&nbsp; 761443 |

---

**BHFTI-204**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Media—(Continued)** | **Media—(Continued)** | **Media—(Continued)** |
| Scholastic Corp.  | 20995 | &nbsp;&nbsp;&nbsp; $574843 |
| Stagwell, Inc. (a) | 81314 | &nbsp;&nbsp;&nbsp; 457798 |
|  |  | &nbsp;&nbsp;&nbsp; 4493819 |
| **Metals & Mining — 3.3%** | **Metals & Mining — 3.3%** | **Metals & Mining — 3.3%** |
| Coeur Mining, Inc. (a) | 135230 | &nbsp;&nbsp;&nbsp; 2536915 |
| Commercial Metals Co.  | 33777 | &nbsp;&nbsp;&nbsp; 1934747 |
| Constellium SE (a) | 95638 | &nbsp;&nbsp;&nbsp; 1423093 |
| Hecla Mining Co.  | 147598 | &nbsp;&nbsp;&nbsp; 1785936 |
| Materion Corp.  | 9249 | &nbsp;&nbsp;&nbsp; 1117372 |
| SSR Mining, Inc. (a) | 34865 | &nbsp;&nbsp;&nbsp; 851403 |
| SunCoke Energy, Inc.  | 19803 | &nbsp;&nbsp;&nbsp; 161592 |
| Warrior Met Coal, Inc.  | 15422 | &nbsp;&nbsp;&nbsp; 981456 |
|  |  | &nbsp;&nbsp;&nbsp; 10792514 |
| **Mortgage Real Estate Investment Trusts — 1.3%** | **Mortgage Real Estate Investment Trusts — 1.3%** | **Mortgage Real Estate Investment Trusts — 1.3%** |
| Adamas Trust, Inc.  | 39655 | &nbsp;&nbsp;&nbsp; 276395 |
| Apollo Commercial Real Estate Finance, Inc.  | 33352 | &nbsp;&nbsp;&nbsp; 337856 |
| BrightSpire Capital, Inc.  | 146872 | &nbsp;&nbsp;&nbsp; 797515 |
| KKR Real Estate Finance Trust, Inc.  | 31786 | &nbsp;&nbsp;&nbsp; 286074 |
| Ladder Capital Corp.  | 187726 | &nbsp;&nbsp;&nbsp; 2048091 |
| Redwood Trust, Inc. (b) | 20583 | &nbsp;&nbsp;&nbsp; 119176 |
| TPG RE Finance Trust, Inc.  | 49072 | &nbsp;&nbsp;&nbsp; 420056 |
|  |  | &nbsp;&nbsp;&nbsp; 4285163 |
| **Multi-Utilities — 1.1%** | **Multi-Utilities — 1.1%** | **Multi-Utilities — 1.1%** |
| Avista Corp.  | 4132 | &nbsp;&nbsp;&nbsp; 156231 |
| Black Hills Corp.  | 24060 | &nbsp;&nbsp;&nbsp; 1481855 |
| Northwestern Energy Group, Inc.  | 7577 | &nbsp;&nbsp;&nbsp; 444088 |
| Unitil Corp.  | 29649 | &nbsp;&nbsp;&nbsp; 1419001 |
|  |  | &nbsp;&nbsp;&nbsp; 3501175 |
| **Office REITs — 1.7%** | **Office REITs — 1.7%** | **Office REITs — 1.7%** |
| City Office REIT, Inc.  | 16722 | &nbsp;&nbsp;&nbsp; 116385 |
| COPT Defense Properties | 72542 | &nbsp;&nbsp;&nbsp; 2108070 |
| Empire State Realty Trust, Inc. - Class A | 89765 | &nbsp;&nbsp;&nbsp; 687600 |
| Paramount Group, Inc. (a) | 45976 | &nbsp;&nbsp;&nbsp; 300683 |
| Piedmont Realty Trust, Inc. - Class A | 120004 | &nbsp;&nbsp;&nbsp; 1080036 |
| Postal Realty Trust, Inc. - Class A | 16027 | &nbsp;&nbsp;&nbsp; 251464 |
| SL Green Realty Corp. (b) | 15738 | &nbsp;&nbsp;&nbsp; 941290 |
|  |  | &nbsp;&nbsp;&nbsp; 5485528 |
| **Oil, Gas & Consumable Fuels — 4.8%** | **Oil, Gas & Consumable Fuels — 4.8%** | **Oil, Gas & Consumable Fuels — 4.8%** |
| Berry Corp.  | 98993 | &nbsp;&nbsp;&nbsp; 374194 |
| California Resources Corp.  | 5658 | &nbsp;&nbsp;&nbsp; 300892 |
| Centrus Energy Corp. - Class A (a) (b) | 788 | &nbsp;&nbsp;&nbsp; 244335 |
| Chord Energy Corp.  | 4097 | &nbsp;&nbsp;&nbsp; 407119 |
| Clean Energy Fuels Corp. (a) | 210792 | &nbsp;&nbsp;&nbsp; 543843 |
| CNX Resources Corp. (a) | 23283 | &nbsp;&nbsp;&nbsp; 747850 |
| Core Natural Resources, Inc.  | 6603 | &nbsp;&nbsp;&nbsp; 551218 |
| Energy Fuels, Inc. (a) | 56361 | &nbsp;&nbsp;&nbsp; 865141 |
| Excelerate Energy, Inc. - Class A | 19085 | &nbsp;&nbsp;&nbsp; 480751 |
| Gulfport Energy Corp. (a) | 5026 | &nbsp;&nbsp;&nbsp; 909605 |
| International Seaways, Inc.  | 11101 | &nbsp;&nbsp;&nbsp; 511534 |
| Magnolia Oil & Gas Corp. - Class A | 12781 | &nbsp;&nbsp;&nbsp; 305082 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Oil, Gas & Consumable Fuels—(Continued)** | **Oil, Gas & Consumable Fuels—(Continued)** | **Oil, Gas & Consumable Fuels—(Continued)** |
| Matador Resources Co.  | 17907 | &nbsp;&nbsp;&nbsp; $804562 |
| Murphy Oil Corp.  | 18019 | &nbsp;&nbsp;&nbsp; 511920 |
| New Fortress Energy, Inc. (a) (b) | 62961 | &nbsp;&nbsp;&nbsp; 139144 |
| Ovintiv, Inc.  | 17620 | &nbsp;&nbsp;&nbsp; 711496 |
| Par Pacific Holdings, Inc. (a) | 36350 | &nbsp;&nbsp;&nbsp; 1287517 |
| PBF Energy, Inc. - Class A | 19498 | &nbsp;&nbsp;&nbsp; 588255 |
| Peabody Energy Corp.  | 70288 | &nbsp;&nbsp;&nbsp; 1864038 |
| Scorpio Tankers, Inc.  | 4592 | &nbsp;&nbsp;&nbsp; 257382 |
| SM Energy Co.  | 13527 | &nbsp;&nbsp;&nbsp; 337769 |
| Teekay Corp. Ltd.  | 70081 | &nbsp;&nbsp;&nbsp; 573263 |
| Teekay Tankers Ltd. - Class A | 37163 | &nbsp;&nbsp;&nbsp; 1878590 |
| World Kinect Corp. (b) | 22180 | &nbsp;&nbsp;&nbsp; 575571 |
|  |  | &nbsp;&nbsp;&nbsp; 15771071 |
| **Passenger Airlines — 0.5%** | **Passenger Airlines — 0.5%** | **Passenger Airlines — 0.5%** |
| SkyWest, Inc. (a) | 15184 | &nbsp;&nbsp;&nbsp; 1527814 |
| **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** |
| BellRing Brands, Inc. (a) | 5898 | &nbsp;&nbsp;&nbsp; 214392 |
| Nature's Sunshine Products, Inc. (a) | 18442 | &nbsp;&nbsp;&nbsp; 286220 |
|  |  | &nbsp;&nbsp;&nbsp; 500612 |
| **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** |
| Alumis, Inc. (a) (b) | 39314 | &nbsp;&nbsp;&nbsp; 156863 |
| Atea Pharmaceuticals, Inc. (a) | 43258 | &nbsp;&nbsp;&nbsp; 125448 |
| Nuvation Bio, Inc. (a) (b) | 91396 | &nbsp;&nbsp;&nbsp; 338165 |
| Prestige Consumer Healthcare, Inc. (a) | 8516 | &nbsp;&nbsp;&nbsp; 531398 |
| WaVe Life Sciences Ltd. (a) (b) | 54564 | &nbsp;&nbsp;&nbsp; 399409 |
|  |  | &nbsp;&nbsp;&nbsp; 1551283 |
| **Professional Services — 0.6%** | **Professional Services — 0.6%** | **Professional Services — 0.6%** |
| Alight, Inc. - Class A | 21810 | &nbsp;&nbsp;&nbsp; 71101 |
| Barrett Business Services, Inc.  | 6639 | &nbsp;&nbsp;&nbsp; 294240 |
| Heidrick & Struggles International, Inc.  | 17320 | &nbsp;&nbsp;&nbsp; 862016 |
| IBEX Holdings Ltd. (a) | 9694 | &nbsp;&nbsp;&nbsp; 392801 |
| Kelly Services, Inc. - Class A | 23213 | &nbsp;&nbsp;&nbsp; 304555 |
|  |  | &nbsp;&nbsp;&nbsp; 1924713 |
| **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** |
| Cushman & Wakefield PLC (a) | 33381 | &nbsp;&nbsp;&nbsp; 531426 |
| Newmark Group, Inc. - Class A | 62351 | &nbsp;&nbsp;&nbsp; 1162846 |
| RE/MAX Holdings, Inc. - Class A (a) | 32315 | &nbsp;&nbsp;&nbsp; 304730 |
|  |  | &nbsp;&nbsp;&nbsp; 1999002 |
| **Residential REITs — 0.4%** | **Residential REITs — 0.4%** | **Residential REITs — 0.4%** |
| Independence Realty Trust, Inc. (b) | 56002 | &nbsp;&nbsp;&nbsp; 917873 |
| UMH Properties, Inc.  | 10080 | &nbsp;&nbsp;&nbsp; 149688 |
| Veris Residential, Inc.  | 17075 | &nbsp;&nbsp;&nbsp; 259540 |
|  |  | &nbsp;&nbsp;&nbsp; 1327101 |
| **Retail REITs — 1.7%** | **Retail REITs — 1.7%** | **Retail REITs — 1.7%** |
| Agree Realty Corp.  | 1611 | &nbsp;&nbsp;&nbsp; 114446 |
| Curbline Properties Corp.  | 33110 | &nbsp;&nbsp;&nbsp; 738353 |
| Getty Realty Corp. (b) | 7251 | &nbsp;&nbsp;&nbsp; 194544 |
| InvenTrust Properties Corp.  | 28138 | &nbsp;&nbsp;&nbsp; 805310 |

---

**BHFTI-205**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Retail REITs—(Continued)** | **Retail REITs—(Continued)** | **Retail REITs—(Continued)** |
| Kite Realty Group Trust (b) | 61691 | &nbsp;&nbsp;&nbsp; $1375709 |
| Macerich Co.  | 25325 | &nbsp;&nbsp;&nbsp; 460915 |
| NETSTREIT Corp.  | 13883 | &nbsp;&nbsp;&nbsp; 250727 |
| Phillips Edison & Co., Inc.  | 41783 | &nbsp;&nbsp;&nbsp; 1434410 |
| Tanger, Inc.  | 4200 | &nbsp;&nbsp;&nbsp; 142128 |
|  |  | &nbsp;&nbsp;&nbsp; 5516542 |
| **Semiconductors & Semiconductor Equipment — 1.1%** | **Semiconductors & Semiconductor Equipment — 1.1%** | **Semiconductors & Semiconductor Equipment — 1.1%** |
| Ambarella, Inc. (a) | 4967 | &nbsp;&nbsp;&nbsp; 409877 |
| Diodes, Inc. (a) | 20981 | &nbsp;&nbsp;&nbsp; 1116399 |
| Ichor Holdings Ltd. (a) | 5497 | &nbsp;&nbsp;&nbsp; 96307 |
| Navitas Semiconductor Corp. (a) (b) | 78241 | &nbsp;&nbsp;&nbsp; 564900 |
| Penguin Solutions, Inc. (a) (b) | 38532 | &nbsp;&nbsp;&nbsp; 1012621 |
| Veeco Instruments, Inc. (a) | 14026 | &nbsp;&nbsp;&nbsp; 426811 |
|  |  | &nbsp;&nbsp;&nbsp; 3626915 |
| **Software — 3.6%** | **Software — 3.6%** | **Software — 3.6%** |
| Adeia, Inc.  | 62641 | &nbsp;&nbsp;&nbsp; 1052369 |
| Cerence, Inc. (a) | 15184 | &nbsp;&nbsp;&nbsp; 189193 |
| Cipher Mining, Inc. (a) | 65466 | &nbsp;&nbsp;&nbsp; 824217 |
| Consensus Cloud Solutions, Inc. (a) | 13320 | &nbsp;&nbsp;&nbsp; 391208 |
| Digital Turbine, Inc. (a) | 43954 | &nbsp;&nbsp;&nbsp; 281306 |
| D-Wave Quantum, Inc. (a) (b) | 31256 | &nbsp;&nbsp;&nbsp; 772336 |
| Hut 8 Corp. (a) | 22106 | &nbsp;&nbsp;&nbsp; 769510 |
| LiveRamp Holdings, Inc. (a) | 38547 | &nbsp;&nbsp;&nbsp; 1046165 |
| MARA Holdings, Inc. (a) (b) | 107345 | &nbsp;&nbsp;&nbsp; 1960120 |
| NCR Voyix Corp. (a) | 37153 | &nbsp;&nbsp;&nbsp; 466270 |
| ON24, Inc. (a) | 60906 | &nbsp;&nbsp;&nbsp; 348382 |
| OneSpan, Inc.  | 36479 | &nbsp;&nbsp;&nbsp; 579651 |
| Porch Group, Inc. (a) | 20912 | &nbsp;&nbsp;&nbsp; 350903 |
| Riot Platforms, Inc. (a) (b) | 85862 | &nbsp;&nbsp;&nbsp; 1633954 |
| Verint Systems, Inc. (a) | 21704 | &nbsp;&nbsp;&nbsp; 439506 |
| Xperi, Inc. (a) | 90493 | &nbsp;&nbsp;&nbsp; 586395 |
|  |  | &nbsp;&nbsp;&nbsp; 11691485 |
| **Specialized REITs — 0.9%** | **Specialized REITs — 0.9%** | **Specialized REITs — 0.9%** |
| Four Corners Property Trust, Inc. (b) | 10914 | &nbsp;&nbsp;&nbsp; 266302 |
| Outfront Media, Inc.  | 17172 | &nbsp;&nbsp;&nbsp; 314591 |
| PotlatchDeltic Corp.  | 50638 | &nbsp;&nbsp;&nbsp; 2063498 |
| Smartstop Self Storage REIT, Inc. (b) | 10948 | &nbsp;&nbsp;&nbsp; 412083 |
|  |  | &nbsp;&nbsp;&nbsp; 3056474 |
| **Specialty Retail — 3.1%** | **Specialty Retail — 3.1%** | **Specialty Retail — 3.1%** |
| Advance Auto Parts, Inc. (b) | 11517 | &nbsp;&nbsp;&nbsp; 707144 |
| American Eagle Outfitters, Inc.  | 49352 | &nbsp;&nbsp;&nbsp; 844413 |
| Asbury Automotive Group, Inc. (a) | 4316 | &nbsp;&nbsp;&nbsp; 1055046 |
| Buckle, Inc.  | 8969 | &nbsp;&nbsp;&nbsp; 526121 |
| EVgo, Inc. (a) | 59113 | &nbsp;&nbsp;&nbsp; 279604 |
| Genesco, Inc. (a) | 14117 | &nbsp;&nbsp;&nbsp; 409252 |
| Group 1 Automotive, Inc.  | 1166 | &nbsp;&nbsp;&nbsp; 510137 |
| National Vision Holdings, Inc. (a) | 16245 | &nbsp;&nbsp;&nbsp; 474192 |
| RealReal, Inc. (a) (b) | 70792 | &nbsp;&nbsp;&nbsp; 752519 |
| Signet Jewelers Ltd.  | 26025 | &nbsp;&nbsp;&nbsp; 2496318 |
| Sonic Automotive, Inc. - Class A | 5925 | &nbsp;&nbsp;&nbsp; 450833 |
| Urban Outfitters, Inc. (a) | 13738 | &nbsp;&nbsp;&nbsp; 981305 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Specialty Retail—(Continued)** | **Specialty Retail—(Continued)** | **Specialty Retail—(Continued)** |
| Victoria's Secret & Co. (a) | 23684 | &nbsp;&nbsp;&nbsp; $642784 |
|  |  | &nbsp;&nbsp;&nbsp; 10129668 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |
| Capri Holdings Ltd. (a) | 42270 | &nbsp;&nbsp;&nbsp; 842018 |
| **Trading Companies & Distributors — 2.0%** | **Trading Companies & Distributors — 2.0%** | **Trading Companies & Distributors — 2.0%** |
| BlueLinx Holdings, Inc. (a) | 3145 | &nbsp;&nbsp;&nbsp; 229837 |
| Boise Cascade Co.  | 11872 | &nbsp;&nbsp;&nbsp; 917943 |
| DNOW, Inc. (a) | 75469 | &nbsp;&nbsp;&nbsp; 1150902 |
| GATX Corp.  | 4756 | &nbsp;&nbsp;&nbsp; 831349 |
| Hudson Technologies, Inc. (a) | 16910 | &nbsp;&nbsp;&nbsp; 167916 |
| MRC Global, Inc. (a) | 54866 | &nbsp;&nbsp;&nbsp; 791168 |
| Rush Enterprises, Inc. - Class A | 20876 | &nbsp;&nbsp;&nbsp; 1116240 |
| WESCO International, Inc.  | 6279 | &nbsp;&nbsp;&nbsp; 1328008 |
|  |  | &nbsp;&nbsp;&nbsp; 6533363 |
| **Water Utilities — 0.7%** | **Water Utilities — 0.7%** | **Water Utilities — 0.7%** |
| American States Water Co.  | 5550 | &nbsp;&nbsp;&nbsp; 406926 |
| Consolidated Water Co. Ltd.  | 56848 | &nbsp;&nbsp;&nbsp; 2005597 |
|  |  | &nbsp;&nbsp;&nbsp; 2412523 |
| **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** |
| Spok Holdings, Inc.  | 12632 | &nbsp;&nbsp;&nbsp; 217902 |
| Telephone & Data Systems, Inc.  | 10033 | &nbsp;&nbsp;&nbsp; 393695 |
|  |  | &nbsp;&nbsp;&nbsp; 611597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $283,089,573) <br>|  | &nbsp;&nbsp;&nbsp; 319523785 |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; iTeos Therapeutics, Inc. (a) (c) (d) <br>(Cost $10,055)<br>| 97620 | &nbsp;&nbsp;&nbsp; 9762 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.5%** | **Short-Term Investments—0.5%** | **Short-Term Investments—0.5%** |
| **Repurchase Agreement—0.5%** | **Repurchase Agreement—0.5%** | **Repurchase Agreement—0.5%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $1,546,158; collateralized <br> by U.S. Treasury Note at 3.750%, maturing 04/30/27, with a <br> market value of $1,577,131<br>| 1546029 | &nbsp;&nbsp;&nbsp; 1546029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $1,546,029) <br>|  | &nbsp;&nbsp;&nbsp; 1546029 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—2.4%** | **Securities Lending Reinvestments (e)—2.4%** | **Securities Lending Reinvestments (e)—2.4%** |
| **Short-Term Investment Funds—1.5%** | **Short-Term Investment Funds—1.5%** | **Short-Term Investment Funds—1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

**BHFTI-206**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 5000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements—0.9%** | **Repurchase Agreements—0.9%** | **Repurchase Agreements—0.9%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $1,000,117; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $100,012; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $686,078; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $699,718<br>| 685999 | &nbsp;&nbsp;&nbsp; 685999 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $100,011; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $102,000<br>| 100000 | &nbsp;&nbsp;&nbsp; 100000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,100,128<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 2885999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $7,885,999) <br>|  | &nbsp;&nbsp;&nbsp; 7885999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.3% <br>(Cost $292,531,656) <br>|  | &nbsp;&nbsp;&nbsp; 328965575 |
| Other assets and liabilities (net)—(0.3)%  |  | &nbsp;&nbsp;&nbsp; (978740)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $327986835 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of 

---

| | |
|:---|:---|
|  | securities loaned was $18,354,437 and the collateral received consisted of cash in the amount of <br> $7,885,999 and non-cash collateral with a value of $11,434,543. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (c) | Security was valued in good faith under procedures subject to oversight by the Board of Trustees. <br> As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (d) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |
| (e) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (f) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |

---

**BHFTI-207**

------

**Brighthouse Funds Trust I**

**JPMorgan Small Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 67 | USD | 8225925 | &nbsp;&nbsp;&nbsp; $59403 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $319523785 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $319523785 |
| Total Rights\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9762 | &nbsp;&nbsp;&nbsp; 9762 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1546029 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1546029 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2885999 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2885999 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; 2885999 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7885999 |
| Total Investments | &nbsp;&nbsp;&nbsp; $324523785 | &nbsp;&nbsp;&nbsp; $4432028 | &nbsp;&nbsp;&nbsp; $9762 | &nbsp;&nbsp;&nbsp; $328965575 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(7885999)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(7885999)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $59403 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $59403 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-208**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—68.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Banks — 2.1%** | **Banks — 2.1%** | **Banks — 2.1%** |
| JPMorgan Chase & Co.  | 24782 | &nbsp;&nbsp;&nbsp; $7816986 |
| **Broadline Retail — 3.3%** | **Broadline Retail — 3.3%** | **Broadline Retail — 3.3%** |
| Amazon.com, Inc. (a) | 56239 | &nbsp;&nbsp;&nbsp; 12348397 |
| **Building Products — 2.2%** | **Building Products — 2.2%** | **Building Products — 2.2%** |
| Builders FirstSource, Inc. (a) (b) | 19444 | &nbsp;&nbsp;&nbsp; 2357585 |
| Trane Technologies PLC | 14027 | &nbsp;&nbsp;&nbsp; 5918833 |
|  |  | &nbsp;&nbsp;&nbsp; 8276418 |
| **Capital Markets — 8.9%** | **Capital Markets — 8.9%** | **Capital Markets — 8.9%** |
| Blackrock, Inc.  | 9524 | &nbsp;&nbsp;&nbsp; 11103746 |
| Goldman Sachs Group, Inc.  | 8834 | &nbsp;&nbsp;&nbsp; 7034956 |
| London Stock Exchange Group PLC | 35642 | &nbsp;&nbsp;&nbsp; 4092844 |
| S&P Global, Inc.  | 22517 | &nbsp;&nbsp;&nbsp; 10959249 |
|  |  | &nbsp;&nbsp;&nbsp; 33190795 |
| **Chemicals — 2.0%** | **Chemicals — 2.0%** | **Chemicals — 2.0%** |
| Linde PLC | 15900 | &nbsp;&nbsp;&nbsp; 7552500 |
| **Consumer Staples Distribution & Retail — 1.8%** | **Consumer Staples Distribution & Retail — 1.8%** | **Consumer Staples Distribution & Retail — 1.8%** |
| Costco Wholesale Corp.  | 7135 | &nbsp;&nbsp;&nbsp; 6604370 |
| **Electrical Equipment — 1.7%** | **Electrical Equipment — 1.7%** | **Electrical Equipment — 1.7%** |
| Schneider Electric SE | 22628 | &nbsp;&nbsp;&nbsp; 6388009 |
| **Electronic Equipment, Instruments & Components — 1.7%** | **Electronic Equipment, Instruments & Components — 1.7%** | **Electronic Equipment, Instruments & Components — 1.7%** |
| Halma PLC | 134898 | &nbsp;&nbsp;&nbsp; 6261377 |
| **Financial Services — 3.0%** | **Financial Services — 3.0%** | **Financial Services — 3.0%** |
| Mastercard, Inc. - Class A | 19536 | &nbsp;&nbsp;&nbsp; 11112272 |
| **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** |
| UnitedHealth Group, Inc.  | 5829 | &nbsp;&nbsp;&nbsp; 2012754 |
| **Hotels, Restaurants & Leisure — 3.5%** | **Hotels, Restaurants & Leisure — 3.5%** | **Hotels, Restaurants & Leisure — 3.5%** |
| Airbnb, Inc. - Class A (a) | 39392 | &nbsp;&nbsp;&nbsp; 4782977 |
| Hilton Worldwide Holdings, Inc.  | 31083 | &nbsp;&nbsp;&nbsp; 8064173 |
|  |  | &nbsp;&nbsp;&nbsp; 12847150 |
| **Insurance — 0.4%** | **Insurance — 0.4%** | **Insurance — 0.4%** |
| Progressive Corp.  | 5691 | &nbsp;&nbsp;&nbsp; 1405393 |
| **Interactive Media & Services — 2.6%** | **Interactive Media & Services — 2.6%** | **Interactive Media & Services — 2.6%** |
| Alphabet, Inc. - Class A | 40069 | &nbsp;&nbsp;&nbsp; 9740774 |
| **IT Services — 3.3%** | **IT Services — 3.3%** | **IT Services — 3.3%** |
| CGI, Inc.  | 61400 | &nbsp;&nbsp;&nbsp; 5468955 |
| Nomura Research Institute Ltd.  | 175500 | &nbsp;&nbsp;&nbsp; 6731420 |
|  |  | &nbsp;&nbsp;&nbsp; 12200375 |
| **Life Sciences Tools & Services — 3.5%** | **Life Sciences Tools & Services — 3.5%** | **Life Sciences Tools & Services — 3.5%** |
| Danaher Corp.  | 27901 | &nbsp;&nbsp;&nbsp; 5531652 |
| Mettler-Toledo International, Inc. (a) | 5931 | &nbsp;&nbsp;&nbsp; 7280955 |
|  |  | &nbsp;&nbsp;&nbsp; 12812607 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Machinery — 7.0%** | **Machinery — 7.0%** | **Machinery — 7.0%** |
| Atlas Copco AB - A Shares | 484830 | &nbsp;&nbsp;&nbsp; $8255763 |
| Cummins, Inc.  | 18253 | &nbsp;&nbsp;&nbsp; 7709520 |
| Parker-Hannifin Corp. (b) | 13424 | &nbsp;&nbsp;&nbsp; 10177406 |
|  |  | &nbsp;&nbsp;&nbsp; 26142689 |
| **Semiconductors & Semiconductor Equipment — 12.1%** | **Semiconductors & Semiconductor Equipment — 12.1%** | **Semiconductors & Semiconductor Equipment — 12.1%** |
| ASML Holding NV | 10885 | &nbsp;&nbsp;&nbsp; 10612465 |
| KLA Corp.  | 4756 | &nbsp;&nbsp;&nbsp; 5129822 |
| NVIDIA Corp.  | 97923 | &nbsp;&nbsp;&nbsp; 18270473 |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 256000 | &nbsp;&nbsp;&nbsp; 11137115 |
|  |  | &nbsp;&nbsp;&nbsp; 45149875 |
| **Software — 2.7%** | **Software — 2.7%** | **Software — 2.7%** |
| Adobe, Inc. (a) | 3242 | &nbsp;&nbsp;&nbsp; 1143616 |
| Roper Technologies, Inc.  | 14906 | &nbsp;&nbsp;&nbsp; 7433473 |
| Salesforce, Inc.  | 6878 | &nbsp;&nbsp;&nbsp; 1630086 |
|  |  | &nbsp;&nbsp;&nbsp; 10207175 |
| **Specialty Retail — 5.0%** | **Specialty Retail — 5.0%** | **Specialty Retail — 5.0%** |
| Home Depot, Inc.  | 23412 | &nbsp;&nbsp;&nbsp; 9486308 |
| O'Reilly Automotive, Inc. (a) | 84005 | &nbsp;&nbsp;&nbsp; 9056579 |
|  |  | &nbsp;&nbsp;&nbsp; 18542887 |
| **Textiles, Apparel & Luxury Goods — 0.7%** | **Textiles, Apparel & Luxury Goods — 0.7%** | **Textiles, Apparel & Luxury Goods — 0.7%** |
| LVMH Moet Hennessy Louis Vuitton SE | 3969 | &nbsp;&nbsp;&nbsp; 2428568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $168,687,856) <br>|  | &nbsp;&nbsp;&nbsp; 253041371 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—18.7%** | **Corporate Bonds & Notes—18.7%** | **Corporate Bonds & Notes—18.7%** |
| **Aerospace/Defense — 0.7%** | **Aerospace/Defense — 0.7%** | **Aerospace/Defense — 0.7%** |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 02/01/31 | 160000 | &nbsp;&nbsp;&nbsp; 153247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/01/30 | 120000 | &nbsp;&nbsp;&nbsp; 123139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.705%, 05/01/40 | 125000 | &nbsp;&nbsp;&nbsp; 127548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.805%, 05/01/50 | 495000 | &nbsp;&nbsp;&nbsp; 494536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.528%, 05/01/34 | 855000 | &nbsp;&nbsp;&nbsp; 945173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.858%, 05/01/54 | 510000 | &nbsp;&nbsp;&nbsp; 581759 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/15/28 (144A) | 30000 | &nbsp;&nbsp;&nbsp; 30572 |
|  |  | &nbsp;&nbsp;&nbsp; 2455974 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| Air Canada Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 07/15/31 (144A) | 147568 | &nbsp;&nbsp;&nbsp; 139731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/15/29 (144A) | 99007 | &nbsp;&nbsp;&nbsp; 96357 |
| American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/15/27 | 84281 | &nbsp;&nbsp;&nbsp; 84211 |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 04/07/27 | 35764 | &nbsp;&nbsp;&nbsp; 35753 |
|  |  | &nbsp;&nbsp;&nbsp; 356052 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/30/31 (144A) | 45000 | &nbsp;&nbsp;&nbsp; 41575 |

---

**BHFTI-209**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** |
| Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/01/27 (144A) | 105000 | &nbsp;&nbsp;&nbsp; $104284 |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 07/09/32 | 115000 | &nbsp;&nbsp;&nbsp; 117831 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 06/24/31 (144A) | 40000 | &nbsp;&nbsp;&nbsp; 41199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/08/30 (144A) | 175000 | &nbsp;&nbsp;&nbsp; 186933 |
|  |  | &nbsp;&nbsp;&nbsp; 491822 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| Aptiv Swiss Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 09/15/28 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 114348 |
| ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/14/28 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 152075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/23/32 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 143611 |
|  |  | &nbsp;&nbsp;&nbsp; 410034 |
| **Banks — 1.6%** | **Banks — 1.6%** | **Banks — 1.6%** |
| AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.608%, SOFR + 2.330%, 09/13/29 (144A) (c) | 305000 | &nbsp;&nbsp;&nbsp; 323769 |
| Banco de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.990%, 12/09/31 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 182569 |
| Banco Santander Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.177%, 10/26/31 (144A) | 250000 | &nbsp;&nbsp;&nbsp; 232500 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.722%, 1Y H15 + 0.900%, 09/14/27 (c) | 200000 | &nbsp;&nbsp;&nbsp; 195164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.938%, 11/07/33 | 200000 | &nbsp;&nbsp;&nbsp; 228860 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.482%, 5Y H15 + 1.200%, 09/21/36 (c) | 162000 | &nbsp;&nbsp;&nbsp; 140644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.846%, 5Y H15 + 2.000%, 03/08/37 (b) (c) | 275000 | &nbsp;&nbsp;&nbsp; 256929 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.862%, SOFR + 1.740%, 01/09/36 (144A) (c) | 250000 | &nbsp;&nbsp;&nbsp; 262834 |
| Danske Bank AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1Y EUR Swap + 1.700%, 06/21/30 (EUR) (c) | 280000 | &nbsp;&nbsp;&nbsp; 349608 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.552%, SOFR + 1.318%, 01/07/28 (c) | 170000 | &nbsp;&nbsp;&nbsp; 166275 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.535%, 1Y H15 + 0.720%, 05/25/27 (144A) (c) | 410000 | &nbsp;&nbsp;&nbsp; 402841 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 06/20/33 (144A) | 315000 | &nbsp;&nbsp;&nbsp; 346727 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5Y H15 + 2.152%, 04/01/30 (c) | 800000 | &nbsp;&nbsp;&nbsp; 828107 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.484%, SOFR + 1.360%, 09/16/36 (c) | 510000 | &nbsp;&nbsp;&nbsp; 443000 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.766%, 01/13/33 (b) | 200000 | &nbsp;&nbsp;&nbsp; 213716 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.091%, SOFR + 1.730%, 05/14/32 (144A) (c) | 510000 | &nbsp;&nbsp;&nbsp; 471937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.016%, SOFR + 5.020%, 11/15/33 (144A) (c) | 250000 | &nbsp;&nbsp;&nbsp; 313217 |
| UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.296%, 5Y USD ICE Swap + 4.914%, 04/02/34 (144A) (c) | 325000 | &nbsp;&nbsp;&nbsp; 347081 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.953%, 11/20/28 | 400000 | &nbsp;&nbsp;&nbsp; 376674 |
|  |  | &nbsp;&nbsp;&nbsp; 6082452 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Anheuser-Busch InBev SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 04/02/40 (EUR) | 300000 | &nbsp;&nbsp;&nbsp; $342002 |
| Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 04/29/32 | 200000 | &nbsp;&nbsp;&nbsp; 173012 |
|  |  | &nbsp;&nbsp;&nbsp; 515014 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| Cemex SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/11/31 (144A) | 315000 | &nbsp;&nbsp;&nbsp; 298950 |
| JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/31/31 (144A) | 75000 | &nbsp;&nbsp;&nbsp; 76149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 07/31/32 (144A) | 105000 | &nbsp;&nbsp;&nbsp; 107549 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/32 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 341828 |
|  |  | &nbsp;&nbsp;&nbsp; 824476 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| Albemarle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 06/01/32 | 200000 | &nbsp;&nbsp;&nbsp; 197454 |
| Ashland, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 09/01/31 (144A) (b) | 55000 | &nbsp;&nbsp;&nbsp; 48717 |
| OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/02/34 (144A) | 450000 | &nbsp;&nbsp;&nbsp; 489185 |
| Sociedad Quimica y Minera de Chile SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/10/34 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 202000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/07/33 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 215966 |
| Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/33 (144A) | 96000 | &nbsp;&nbsp;&nbsp; 96317 |
|  |  | &nbsp;&nbsp;&nbsp; 1249639 |
| **Commercial Services — 0.3%** | **Commercial Services — 0.3%** | **Commercial Services — 0.3%** |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/31 (b) | 415000 | &nbsp;&nbsp;&nbsp; 386209 |
| TriNet Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 (144A) | 415000 | &nbsp;&nbsp;&nbsp; 388163 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/32 | 225000 | &nbsp;&nbsp;&nbsp; 208436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 03/15/34 (144A) | 140000 | &nbsp;&nbsp;&nbsp; 145575 |
|  |  | &nbsp;&nbsp;&nbsp; 1128383 |
| **Computers — 0.0%** | **Computers — 0.0%** | **Computers — 0.0%** |
| Seagate Data Storage Technology Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.091%, 06/01/29 (144A) | 155000 | &nbsp;&nbsp;&nbsp; 149951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 12/01/32 (144A) | 7650 | &nbsp;&nbsp;&nbsp; 8665 |
|  |  | &nbsp;&nbsp;&nbsp; 158616 |
| **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 01/30/32 | 260000 | &nbsp;&nbsp;&nbsp; 239432 |
| Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/18/34 | 175000 | &nbsp;&nbsp;&nbsp; 183527 |
| Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.340%, 01/30/32 | 175000 | &nbsp;&nbsp;&nbsp; 152874 |
| Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 01/25/28 | 185000 | &nbsp;&nbsp;&nbsp; 183679 |

---

**BHFTI-210**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/01/33 (144A) | 80000 | &nbsp;&nbsp;&nbsp; $82414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/01/32 (144A) (b) | 65000 | &nbsp;&nbsp;&nbsp; 68130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 05/15/31 (144A) | 35000 | &nbsp;&nbsp;&nbsp; 37224 |
| Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 04/14/34 (b) | 235000 | &nbsp;&nbsp;&nbsp; 249851 |
| Macquarie Airfinance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 03/26/29 (144A) | 10000 | &nbsp;&nbsp;&nbsp; 10531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/26/31 (144A) | 15000 | &nbsp;&nbsp;&nbsp; 16068 |
| Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.710%, 01/22/29 | 245000 | &nbsp;&nbsp;&nbsp; 232796 |
| Power Finance Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 04/23/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 194987 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31 (144A) (b) | 515000 | &nbsp;&nbsp;&nbsp; 480930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/33 (144A) (b) | 225000 | &nbsp;&nbsp;&nbsp; 205489 |
|  |  | &nbsp;&nbsp;&nbsp; 2337932 |
| **Electric — 0.5%** | **Electric — 0.5%** | **Electric — 0.5%** |
| Colbun SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 09/11/35 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 199680 |
| EDP Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.710%, 01/24/28 (144A) | 205000 | &nbsp;&nbsp;&nbsp; 193413 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/21/38 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 188604 |
| Empresas Publicas de Medellin ESP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/18/29 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 189626 |
| Enel Chile SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/12/28 | 110000 | &nbsp;&nbsp;&nbsp; 111765 |
| Engie Energia Chile SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 01/28/30 | 305000 | &nbsp;&nbsp;&nbsp; 287452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/17/34 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 213501 |
| Engie SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 10/24/41 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 152651 |
| Israel Electric Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/22/32 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 184999 |
| Orsted AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 05/17/27 (GBP) | 215000 | &nbsp;&nbsp;&nbsp; 277003 |
|  |  | &nbsp;&nbsp;&nbsp; 1998694 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/31 (144A) | 275000 | &nbsp;&nbsp;&nbsp; 253792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/30 (144A) | 80000 | &nbsp;&nbsp;&nbsp; 77212 |
| TD SYNNEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 04/12/34 | 95000 | &nbsp;&nbsp;&nbsp; 100996 |
|  |  | &nbsp;&nbsp;&nbsp; 432000 |
| **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** |
| Cellnex Telecom SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/23/30 (EUR) | 400000 | &nbsp;&nbsp;&nbsp; 438090 |
| IHS Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 05/29/30 (144A) | 280000 | &nbsp;&nbsp;&nbsp; 289330 |
| TopBuild Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 02/15/32 (144A) | 40000 | &nbsp;&nbsp;&nbsp; 37498 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Engineering & Construction—(Continued)** | **Engineering & Construction—(Continued)** | **Engineering & Construction—(Continued)** |
| TopBuild Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/31/34 (144A) | 175000 | &nbsp;&nbsp;&nbsp; $174364 |
|  |  | &nbsp;&nbsp;&nbsp; 939282 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.279%, 03/15/32 (b) | 976000 | &nbsp;&nbsp;&nbsp; 894260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/15/42 | 30000 | &nbsp;&nbsp;&nbsp; 23950 |
|  |  | &nbsp;&nbsp;&nbsp; 918210 |
| **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/29 (144A) | 65000 | &nbsp;&nbsp;&nbsp; 63415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/31 (144A) | 25000 | &nbsp;&nbsp;&nbsp; 26160 |
|  |  | &nbsp;&nbsp;&nbsp; 89575 |
| **Food — 0.4%** | **Food — 0.4%** | **Food — 0.4%** |
| Fonterra Co-Operative Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 06/16/26 (AUD) | 400000 | &nbsp;&nbsp;&nbsp; 263772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/02/27 (AUD) | 100000 | &nbsp;&nbsp;&nbsp; 65926 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/01/31 | 85000 | &nbsp;&nbsp;&nbsp; 80299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/34 | 245000 | &nbsp;&nbsp;&nbsp; 270848 |
| Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/15/28 (144A) | 30000 | &nbsp;&nbsp;&nbsp; 29891 |
| Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/32 | 450000 | &nbsp;&nbsp;&nbsp; 411902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/15/31 | 40000 | &nbsp;&nbsp;&nbsp; 38662 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/15/31 (144A) | 220000 | &nbsp;&nbsp;&nbsp; 205535 |
|  |  | &nbsp;&nbsp;&nbsp; 1366835 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/15/28 | 255000 | &nbsp;&nbsp;&nbsp; 241165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 01/15/32 (b) | 125000 | &nbsp;&nbsp;&nbsp; 112167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 01/15/31 (b) | 60000 | &nbsp;&nbsp;&nbsp; 56763 |
| Suzano Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/36 | 145000 | &nbsp;&nbsp;&nbsp; 145145 |
|  |  | &nbsp;&nbsp;&nbsp; 555240 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| Naturgy Finance Iberia SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 01/29/28 (EUR) | 200000 | &nbsp;&nbsp;&nbsp; 229250 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/15/34 (144A) | 565000 | &nbsp;&nbsp;&nbsp; 594751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/36 (144A) | 145000 | &nbsp;&nbsp;&nbsp; 154016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/01/33 (144A) | 230000 | &nbsp;&nbsp;&nbsp; 254152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/01/35 (144A) | 65000 | &nbsp;&nbsp;&nbsp; 73366 |
|  |  | &nbsp;&nbsp;&nbsp; 1305535 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 07/15/28 (144A) | 60000 | &nbsp;&nbsp;&nbsp; 59019 |

---

**BHFTI-211**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Products—(Continued)** | **Healthcare-Products—(Continued)** | **Healthcare-Products—(Continued)** |
| DH Europe Finance II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 09/18/31 (EUR) | 140000 | &nbsp;&nbsp;&nbsp; $144050 |
| Hologic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 02/15/29 (144A) | 160000 | &nbsp;&nbsp;&nbsp; 154495 |
|  |  | &nbsp;&nbsp;&nbsp; 357564 |
| **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/31 | 275000 | &nbsp;&nbsp;&nbsp; 236889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 08/01/31 | 5000 | &nbsp;&nbsp;&nbsp; 4295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/30 | 185000 | &nbsp;&nbsp;&nbsp; 165304 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/15/39 | 350000 | &nbsp;&nbsp;&nbsp; 337247 |
| Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/30 (144A) | 40000 | &nbsp;&nbsp;&nbsp; 37015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/15/32 (144A) | 105000 | &nbsp;&nbsp;&nbsp; 95280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/15/28 (144A) | 60000 | &nbsp;&nbsp;&nbsp; 58515 |
|  |  | &nbsp;&nbsp;&nbsp; 934545 |
| **Holding Companies-Diversified — 0.1%** | **Holding Companies-Diversified — 0.1%** | **Holding Companies-Diversified — 0.1%** |
| CK Hutchison International 19 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 04/11/29 (144A) | 225000 | &nbsp;&nbsp;&nbsp; 220285 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/30 | 25000 | &nbsp;&nbsp;&nbsp; 25196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33 | 30000 | &nbsp;&nbsp;&nbsp; 29938 |
|  |  | &nbsp;&nbsp;&nbsp; 55134 |
| **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** |
| Kimberly-Clark de Mexico SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.431%, 07/01/31 | 200000 | &nbsp;&nbsp;&nbsp; 181591 |
| **Insurance — 0.3%** | **Insurance — 0.3%** | **Insurance — 0.3%** |
| AIA Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/09/29 | 200000 | &nbsp;&nbsp;&nbsp; 196859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 04/06/28 (144A) | 260000 | &nbsp;&nbsp;&nbsp; 259037 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 01/15/31 (144A) | 255000 | &nbsp;&nbsp;&nbsp; 263473 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/33 (144A) | 155000 | &nbsp;&nbsp;&nbsp; 158665 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/01/32 (144A) (b) | 235000 | &nbsp;&nbsp;&nbsp; 237629 |
|  |  | &nbsp;&nbsp;&nbsp; 1115663 |
| **Internet — 0.2%** | **Internet — 0.2%** | **Internet — 0.2%** |
| Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 12/06/27 | 240000 | &nbsp;&nbsp;&nbsp; 237066 |
| Go Daddy Operating Co. LLC/GD Finance Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 (144A) | 410000 | &nbsp;&nbsp;&nbsp; 388465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/27 (144A) | 85000 | &nbsp;&nbsp;&nbsp; 84850 |
|  |  | &nbsp;&nbsp;&nbsp; 710381 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** |
| ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/41 | 95000 | &nbsp;&nbsp;&nbsp; $103117 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/01/27 (144A) | 10000 | &nbsp;&nbsp;&nbsp; 10193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/28 (144A) | 15000 | &nbsp;&nbsp;&nbsp; 15717 |
|  |  | &nbsp;&nbsp;&nbsp; 129027 |
| **Leisure Time — 0.6%** | **Leisure Time — 0.6%** | **Leisure Time — 0.6%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/15/30 (144A) | 155000 | &nbsp;&nbsp;&nbsp; 158253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/01/32 (144A) | 35000 | &nbsp;&nbsp;&nbsp; 35619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/15/33 (144A) | 390000 | &nbsp;&nbsp;&nbsp; 399764 |
| NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/32 (144A) | 260000 | &nbsp;&nbsp;&nbsp; 267392 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/01/26 (144A) | 365000 | &nbsp;&nbsp;&nbsp; 364715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/28 (144A) | 450000 | &nbsp;&nbsp;&nbsp; 458758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/31 (144A) | 440000 | &nbsp;&nbsp;&nbsp; 448659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/32 (144A) | 50000 | &nbsp;&nbsp;&nbsp; 51621 |
|  |  | &nbsp;&nbsp;&nbsp; 2184781 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 02/15/32 (144A) | 655000 | &nbsp;&nbsp;&nbsp; 599394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations <br> Borrower, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/01/31 (144A) | 70000 | &nbsp;&nbsp;&nbsp; 65327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/15/32 (144A) | 70000 | &nbsp;&nbsp;&nbsp; 71096 |
| Marriott Ownership Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/15/29 (144A) | 155000 | &nbsp;&nbsp;&nbsp; 149567 |
| Travel & Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/29 (144A) | 75000 | &nbsp;&nbsp;&nbsp; 72459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/30 (144A) (b) | 175000 | &nbsp;&nbsp;&nbsp; 168677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/01/33 (144A) | 90000 | &nbsp;&nbsp;&nbsp; 89726 |
|  |  | &nbsp;&nbsp;&nbsp; 1216246 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 08/14/33 | 285000 | &nbsp;&nbsp;&nbsp; 302762 |
| **Media — 1.8%** | **Media — 1.8%** | **Media — 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 06/30/62 | 45000 | &nbsp;&nbsp;&nbsp; 28470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.384%, 10/23/35 | 65000 | &nbsp;&nbsp;&nbsp; 68096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 06/01/34 (b) | 135000 | &nbsp;&nbsp;&nbsp; 143872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 02/01/34 | 70000 | &nbsp;&nbsp;&nbsp; 74802 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/15/31 (144A) | 1575000 | &nbsp;&nbsp;&nbsp; 1015789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/30 (144A) (b) | 400000 | &nbsp;&nbsp;&nbsp; 261942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31 (144A) | 405000 | &nbsp;&nbsp;&nbsp; 263362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/30 (144A) | 1385000 | &nbsp;&nbsp;&nbsp; 485923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/28 (144A) (b) | 605000 | &nbsp;&nbsp;&nbsp; 530394 |
| Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/01/30 (144A) | 510000 | &nbsp;&nbsp;&nbsp; 504336 |

---

**BHFTI-212**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Media—(Continued)** | **Media—(Continued)** | **Media—(Continued)** |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 02/15/31 (144A) | 235000 | &nbsp;&nbsp;&nbsp; $234655 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/15/30 | 855000 | &nbsp;&nbsp;&nbsp; 789854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 06/01/40 (b) | 415000 | &nbsp;&nbsp;&nbsp; 380833 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/26 (144A) | 1160000 | &nbsp;&nbsp;&nbsp; 1139809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/28 (144A) | 105000 | &nbsp;&nbsp;&nbsp; 100657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/01/26 | 60000 | &nbsp;&nbsp;&nbsp; 59427 |
| Grupo Televisa SAB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/14/43 (MXN) | 6000000 | &nbsp;&nbsp;&nbsp; 198542 |
| iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 08/15/30 (144A) | 213600 | &nbsp;&nbsp;&nbsp; 176795 |
| Videotron Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/15/27 (144A) | 230000 | &nbsp;&nbsp;&nbsp; 230019 |
|  |  | &nbsp;&nbsp;&nbsp; 6687577 |
| **Mining — 1.5%** | **Mining — 1.5%** | **Mining — 1.5%** |
| Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 09/10/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 183560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/01/30 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 208748 |
| AngloGold Ashanti Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/01/28 | 300000 | &nbsp;&nbsp;&nbsp; 290228 |
| Antofagasta PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 05/13/32 | 200000 | &nbsp;&nbsp;&nbsp; 206930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/02/34 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 214391 |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/30/29 (144A) | 285000 | &nbsp;&nbsp;&nbsp; 269324 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/01/28 | 325000 | &nbsp;&nbsp;&nbsp; 323253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 11/14/34 (b) | 540000 | &nbsp;&nbsp;&nbsp; 553446 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.634%, 04/04/34 (144A) | 1230000 | &nbsp;&nbsp;&nbsp; 1280126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 05/08/33 (144A) (b) | 285000 | &nbsp;&nbsp;&nbsp; 300988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/06/33 (144A) | 1270000 | &nbsp;&nbsp;&nbsp; 1399535 |
| Ivanhoe Mines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 01/23/30 (144A) (b) | 200000 | &nbsp;&nbsp;&nbsp; 206563 |
|  |  | &nbsp;&nbsp;&nbsp; 5437092 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 03/15/30 (144A) | 50000 | &nbsp;&nbsp;&nbsp; 51351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33 (144A) | 235000 | &nbsp;&nbsp;&nbsp; 241885 |
|  |  | &nbsp;&nbsp;&nbsp; 293236 |
| **Multi-National — 0.3%** | **Multi-National — 0.3%** | **Multi-National — 0.3%** |
| International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 07/22/26 (CAD) | 1315000 | &nbsp;&nbsp;&nbsp; 935136 |
| **Office/Business Equipment — 0.2%** | **Office/Business Equipment — 0.2%** | **Office/Business Equipment — 0.2%** |
| CDW LLC/CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 08/22/34 | 590000 | &nbsp;&nbsp;&nbsp; 604960 |
| **Oil & Gas — 0.8%** | **Oil & Gas — 0.8%** | **Oil & Gas — 0.8%** |
| Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/30 (144A) | 20000 | &nbsp;&nbsp;&nbsp; 19861 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** |
| Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/33 (144A) | 370000 | &nbsp;&nbsp;&nbsp; $374880 |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/01/28 (144A) | 35000 | &nbsp;&nbsp;&nbsp; 36279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/01/30 (144A) (b) | 175000 | &nbsp;&nbsp;&nbsp; 181241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 07/01/31 (144A) | 30000 | &nbsp;&nbsp;&nbsp; 30735 |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/01/32 (144A) | 728000 | &nbsp;&nbsp;&nbsp; 634385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/31 (144A) (b) | 517000 | &nbsp;&nbsp;&nbsp; 533148 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/15/31 (144A) | 155000 | &nbsp;&nbsp;&nbsp; 144936 |
| Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 04/06/40 | 355000 | &nbsp;&nbsp;&nbsp; 301648 |
| Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/33 (144A) | 5000 | &nbsp;&nbsp;&nbsp; 5024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/32 (144A) | 45000 | &nbsp;&nbsp;&nbsp; 45431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/28 (144A) | 20000 | &nbsp;&nbsp;&nbsp; 20411 |
| Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 03/01/28 (144A) | 120000 | &nbsp;&nbsp;&nbsp; 121694 |
| QatarEnergy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 07/12/31 (144A) | 305000 | &nbsp;&nbsp;&nbsp; 274494 |
| SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/29 (144A) | 155000 | &nbsp;&nbsp;&nbsp; 155743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/01/32 (144A) (b) | 35000 | &nbsp;&nbsp;&nbsp; 35027 |
|  |  | &nbsp;&nbsp;&nbsp; 2914937 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/15/33 | 590000 | &nbsp;&nbsp;&nbsp; 596342 |
| **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** |
| Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/01/28 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 179000 |
| Teva Pharmaceutical Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 02/01/36 (b) | 250000 | &nbsp;&nbsp;&nbsp; 261770 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/01/26 | 85000 | &nbsp;&nbsp;&nbsp; 83489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 10/01/46 | 1665000 | &nbsp;&nbsp;&nbsp; 1242606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/09/27 | 455000 | &nbsp;&nbsp;&nbsp; 454365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/32 | 230000 | &nbsp;&nbsp;&nbsp; 239542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/15/29 (b) | 605000 | &nbsp;&nbsp;&nbsp; 660234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 09/15/31 | 430000 | &nbsp;&nbsp;&nbsp; 491648 |
| Teva Pharmaceutical Finance Netherlands IV BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/30 | 765000 | &nbsp;&nbsp;&nbsp; 787880 |
|  |  | &nbsp;&nbsp;&nbsp; 4400534 |
| **Pipelines — 0.3%** | **Pipelines — 0.3%** | **Pipelines — 0.3%** |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/15/30 (144A) | 95000 | &nbsp;&nbsp;&nbsp; 92078 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 06/01/47 | 60000 | &nbsp;&nbsp;&nbsp; 55356 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 03/15/33 | 115000 | &nbsp;&nbsp;&nbsp; 122298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP/Targa Resources Partners Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/32 | 35000 | &nbsp;&nbsp;&nbsp; 33192 |

---

**BHFTI-213**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pipelines—(Continued)** | **Pipelines—(Continued)** | **Pipelines—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP/Targa Resources Partners Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 02/01/31 | 15000 | &nbsp;&nbsp;&nbsp; $15044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/30 | 20000 | &nbsp;&nbsp;&nbsp; 20344 |
| Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/01/33 (144A) | 115000 | &nbsp;&nbsp;&nbsp; 103618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/31 (144A) | 195000 | &nbsp;&nbsp;&nbsp; 184050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/30 (144A) | 20000 | &nbsp;&nbsp;&nbsp; 20851 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 5Y H15 + 5.440%, 09/30/29 (144A) (c) | 235000 | &nbsp;&nbsp;&nbsp; 232904 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 02/01/30 (b) | 60000 | &nbsp;&nbsp;&nbsp; 58565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/01/50 | 50000 | &nbsp;&nbsp;&nbsp; 43515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 03/01/48 | 80000 | &nbsp;&nbsp;&nbsp; 69591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 04/01/44 | 15000 | &nbsp;&nbsp;&nbsp; 13599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/15/48 | 10000 | &nbsp;&nbsp;&nbsp; 8902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 04/01/33 | 110000 | &nbsp;&nbsp;&nbsp; 116206 |
|  |  | &nbsp;&nbsp;&nbsp; 1190113 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| Blackstone Property Partners Europe Holdings SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 04/20/30 (EUR) | 215000 | &nbsp;&nbsp;&nbsp; 233463 |
| Logicor Financing SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 01/17/30 (EUR) | 215000 | &nbsp;&nbsp;&nbsp; 234987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 01/17/34 (EUR) | 140000 | &nbsp;&nbsp;&nbsp; 140617 |
|  |  | &nbsp;&nbsp;&nbsp; 609067 |
| **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** |
| Equinix Europe 2 Financing Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 03/15/31 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 117013 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/15/29 (144A) | 225000 | &nbsp;&nbsp;&nbsp; 221501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/30 (144A) | 125000 | &nbsp;&nbsp;&nbsp; 123621 |
| Prologis Euro Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 09/10/27 (EUR) | 320000 | &nbsp;&nbsp;&nbsp; 358998 |
| Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 06/30/29 (GBP) | 135000 | &nbsp;&nbsp;&nbsp; 167491 |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 12/15/30 (GBP) | 125000 | &nbsp;&nbsp;&nbsp; 143345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/06/34 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 129866 |
|  |  | &nbsp;&nbsp;&nbsp; 1261835 |
| **Retail — 0.5%** | **Retail — 0.5%** | **Retail — 0.5%** |
| 1011778 BC ULC/New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/15/29 (144A) | 10000 | &nbsp;&nbsp;&nbsp; 9548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/28 (144A) | 5000 | &nbsp;&nbsp;&nbsp; 4880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/30 (144A) | 685000 | &nbsp;&nbsp;&nbsp; 645560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/15/29 (144A) | 80000 | &nbsp;&nbsp;&nbsp; 80962 |
| El Puerto de Liverpool SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.658%, 01/22/37 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 214477 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/15/29 (144A) | 400000 | &nbsp;&nbsp;&nbsp; 391339 |
| PetSmart LLC/PetSmart Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/15/32 (144A) | 250000 | &nbsp;&nbsp;&nbsp; 250371 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/31 | 85000 | &nbsp;&nbsp;&nbsp; 79368 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Retail—(Continued)** | **Retail—(Continued)** | **Retail—(Continued)** |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/31/32 | 220000 | &nbsp;&nbsp;&nbsp; $213756 |
|  |  | &nbsp;&nbsp;&nbsp; 1890261 |
| **Semiconductors — 1.0%** | **Semiconductors — 1.0%** | **Semiconductors — 1.0%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 02/15/31 (144A) | 415000 | &nbsp;&nbsp;&nbsp; 377448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 02/15/33 (144A) | 690000 | &nbsp;&nbsp;&nbsp; 605730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.419%, 04/15/33 (144A) | 680000 | &nbsp;&nbsp;&nbsp; 629323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.469%, 04/15/34 (144A) | 1080000 | &nbsp;&nbsp;&nbsp; 985609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 04/15/32 (144A) | 330000 | &nbsp;&nbsp;&nbsp; 323619 |
| Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/15/29 (144A) | 110000 | &nbsp;&nbsp;&nbsp; 109056 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/09/33 | 780000 | &nbsp;&nbsp;&nbsp; 828450 |
|  |  | &nbsp;&nbsp;&nbsp; 3859235 |
| **Software — 0.5%** | **Software — 0.5%** | **Software — 0.5%** |
| Fair Isaac Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/33 (144A) | 725000 | &nbsp;&nbsp;&nbsp; 734021 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/01/29 (144A) | 95000 | &nbsp;&nbsp;&nbsp; 89799 |
| Open Text Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 02/15/30 (144A) | 445000 | &nbsp;&nbsp;&nbsp; 421547 |
| Paychex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 04/15/35 | 280000 | &nbsp;&nbsp;&nbsp; 293127 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 04/01/55 | 405000 | &nbsp;&nbsp;&nbsp; 408739 |
|  |  | &nbsp;&nbsp;&nbsp; 1947233 |
| **Telecommunications — 1.6%** | **Telecommunications — 1.6%** | **Telecommunications — 1.6%** |
| America Movil SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 03/10/28 (EUR) | 235000 | &nbsp;&nbsp;&nbsp; 273215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/07/30 | 200000 | &nbsp;&nbsp;&nbsp; 186996 |
| Bharti Airtel Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 06/03/31 | 305000 | &nbsp;&nbsp;&nbsp; 286663 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 6.750% PIK, 11/30/30 (d) | 288597 | &nbsp;&nbsp;&nbsp; 297529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/30/29 | 3081509 | &nbsp;&nbsp;&nbsp; 3390184 |
| KT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/18/26 (144A) | 210000 | &nbsp;&nbsp;&nbsp; 207093 |
| Ooredoo International Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 04/08/31 (144A) | 250000 | &nbsp;&nbsp;&nbsp; 230008 |
| Telecom Argentina SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 05/28/33 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 196479 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/15/30 | 355000 | &nbsp;&nbsp;&nbsp; 348109 |
| Turk Telekomunikasyon AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 10/07/32 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 198820 |
| Turkcell Iletisim Hizmetleri AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 04/11/28 | 215000 | &nbsp;&nbsp;&nbsp; 214906 |
|  |  | &nbsp;&nbsp;&nbsp; 5830002 |

---

**BHFTI-214**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 12/02/26 | 265000 | &nbsp;&nbsp;&nbsp; $258085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $69,868,368) <br>|  | &nbsp;&nbsp;&nbsp; 69739389 |
| **Foreign Government—8.1%** | **Foreign Government—8.1%** | **Foreign Government—8.1%** |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| Corp. Financiera de Desarrollo SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 09/28/27 (144A) | 365000 | &nbsp;&nbsp;&nbsp; 348827 |
| **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** |
| Korea National Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 04/18/27 (144A) | 240000 | &nbsp;&nbsp;&nbsp; 232840 |
| **Regional Government — 0.3%** | **Regional Government — 0.3%** | **Regional Government — 0.3%** |
| New South Wales Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/08/33 (AUD) | 1280000 | &nbsp;&nbsp;&nbsp; 711917 |
| Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 09/01/29 (CAD) | 390000 | &nbsp;&nbsp;&nbsp; 275416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/08/33 | 310000 | &nbsp;&nbsp;&nbsp; 313890 |
|  |  | &nbsp;&nbsp;&nbsp; 1301223 |
| **Sovereign — 7.6%** | **Sovereign — 7.6%** | **Sovereign — 7.6%** |
| Argentina Republic Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/09/35 (e) | 1460000 | &nbsp;&nbsp;&nbsp; 758470 |
| Australia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 09/21/26 (AUD) | 1435000 | &nbsp;&nbsp;&nbsp; 921927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/21/33 (AUD) | 470000 | &nbsp;&nbsp;&nbsp; 286704 |
| Bonos de la Tesoreria de la Republica en pesos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/35 (CLP) | 295000000 | &nbsp;&nbsp;&nbsp; 294478 |
| Brazil Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/20/33 (b) | 325000 | &nbsp;&nbsp;&nbsp; 332800 |
| Brazil Notas do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 01/01/31 (BRL) | 4775000 | &nbsp;&nbsp;&nbsp; 785766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 01/01/35 (BRL) | 3297000 | &nbsp;&nbsp;&nbsp; 507486 |
| Bundesobligation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 04/18/30 (EUR) | 395000 | &nbsp;&nbsp;&nbsp; 466407 |
| Canada Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/26 (CAD) | 3245000 | &nbsp;&nbsp;&nbsp; 2361410 |
| Chile Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 01/27/32 | 350000 | &nbsp;&nbsp;&nbsp; 311325 |
| Colombia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/02/34 | 200000 | &nbsp;&nbsp;&nbsp; 210050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 11/07/36 | 200000 | &nbsp;&nbsp;&nbsp; 209500 |
| Colombia TES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/26/25 (COP) | 534400000 | &nbsp;&nbsp;&nbsp; 135617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 08/26/26 (COP) | 4868600000 | &nbsp;&nbsp;&nbsp; 1225485 |
| Dominican Republic International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/30/30 (144A) | 235000 | &nbsp;&nbsp;&nbsp; 229912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/23/32 (144A) | 150000 | &nbsp;&nbsp;&nbsp; 143145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/19/28 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 206320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 04/20/27 (144A) | 133333 | &nbsp;&nbsp;&nbsp; 138587 |
| Export-Import Bank of India |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 01/13/31 (144A) | 310000 | &nbsp;&nbsp;&nbsp; 277720 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Indonesia Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/15/30 (IDR) | 4793000000 | &nbsp;&nbsp;&nbsp; $305009 |
| Ireland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/18/31 (EUR) | 345000 | &nbsp;&nbsp;&nbsp; 346530 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 07/01/30 (EUR) | 750000 | &nbsp;&nbsp;&nbsp; 888637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 08/01/35 (144A) (EUR) | 235000 | &nbsp;&nbsp;&nbsp; 279389 |
| Japan Government CPI-Linked Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 03/10/28 (JPY) (f) | 94527845 | &nbsp;&nbsp;&nbsp; 649022 |
| Japan Government Ten Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 06/20/34 (JPY) | 159950000 | &nbsp;&nbsp;&nbsp; 1040440 |
| Japan Government Thirty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 12/20/53 (JPY) | 109000000 | &nbsp;&nbsp;&nbsp; 535650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 06/20/55 (JPY) | 81600000 | &nbsp;&nbsp;&nbsp; 523214 |
| Korea Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/10/30 (KRW) | 473950000 | &nbsp;&nbsp;&nbsp; 333919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/10/34 (KRW) | 376710000 | &nbsp;&nbsp;&nbsp; 268672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/10/28 (KRW) | 436120000 | &nbsp;&nbsp;&nbsp; 318445 |
| Malaysia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.828%, 07/05/34 (MYR) | 1165000 | &nbsp;&nbsp;&nbsp; 284056 |
| Mexico Bonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/05/26 (MXN) | 20927400 | &nbsp;&nbsp;&nbsp; 1132823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/03/27 (MXN) | 7046700 | &nbsp;&nbsp;&nbsp; 384447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 05/31/29 (MXN) | 11467500 | &nbsp;&nbsp;&nbsp; 634111 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/12/34 | 200000 | &nbsp;&nbsp;&nbsp; 173700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/15/2115 (EUR) | 100000 | &nbsp;&nbsp;&nbsp; 82334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 07/02/32 | 200000 | &nbsp;&nbsp;&nbsp; 206480 |
| Netherlands Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 01/15/29 (144A) (EUR) | 395000 | &nbsp;&nbsp;&nbsp; 431415 |
| New Zealand Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 05/15/31 (NZD) | 600000 | &nbsp;&nbsp;&nbsp; 311063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/20/29 (NZD) | 1490000 | &nbsp;&nbsp;&nbsp; 859854 |
| Norway Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 08/19/30 (144A) (NOK) | 5850000 | &nbsp;&nbsp;&nbsp; 520770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 02/17/27 (144A) (NOK) | 2950000 | &nbsp;&nbsp;&nbsp; 287477 |
| Paraguay Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 04/28/31 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 201954 |
| Peru Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/15/34 | 245000 | &nbsp;&nbsp;&nbsp; 212537 |
| Republic of Poland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 10/25/30 (PLN) | 3960000 | &nbsp;&nbsp;&nbsp; 914951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/25/30 (PLN) | 1380000 | &nbsp;&nbsp;&nbsp; 373892 |
| Republic of South Africa Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/28/35 (ZAR) | 5250000 | &nbsp;&nbsp;&nbsp; 298181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 01/31/40 (ZAR) | 11100000 | &nbsp;&nbsp;&nbsp; 588168 |
| Republic of South Africa Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/30/49 (b) | 965000 | &nbsp;&nbsp;&nbsp; 771701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 11/19/36 (144A) | 200000 | &nbsp;&nbsp;&nbsp; 208502 |
| Romania Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 04/14/33 (144A) (EUR) | 120000 | &nbsp;&nbsp;&nbsp; 110628 |
| Singapore Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 06/01/26 (SGD) | 985000 | &nbsp;&nbsp;&nbsp; 766965 |
| Spain Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/31/29 (EUR) | 300000 | &nbsp;&nbsp;&nbsp; 365662 |

---

**BHFTI-215**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Sweden Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 05/12/31 (SEK) | 4200000 | &nbsp;&nbsp;&nbsp; $397181 |
| U.K. Gilts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 01/29/27 (GBP) | 680000 | &nbsp;&nbsp;&nbsp; 915825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/31/34 (GBP) | 1140000 | &nbsp;&nbsp;&nbsp; 1490503 |
| Uruguay Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 05/21/31 (UYU) | 8750000 | &nbsp;&nbsp;&nbsp; 221466 |
|  |  | &nbsp;&nbsp;&nbsp; 28438682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $31,195,478) <br>|  | &nbsp;&nbsp;&nbsp; 30321572 |
| **U.S. Treasury & Government Agencies—2.6%** | **U.S. Treasury & Government Agencies—2.6%** | **U.S. Treasury & Government Agencies—2.6%** |
| **U.S. Treasury — 2.6%** | **U.S. Treasury — 2.6%** | **U.S. Treasury — 2.6%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/15/52 | 480000 | &nbsp;&nbsp;&nbsp; 297731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/45 | 800000 | &nbsp;&nbsp;&nbsp; 622562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/15/53 | 630000 | &nbsp;&nbsp;&nbsp; 520341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/53 | 115000 | &nbsp;&nbsp;&nbsp; 103945 |
| U.S. Treasury Inflation-Indexed Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 07/15/27 (f) | 587645 | &nbsp;&nbsp;&nbsp; 583650 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/32 | 115000 | &nbsp;&nbsp;&nbsp; 106910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 05/15/33 | 825000 | &nbsp;&nbsp;&nbsp; 792451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/30/27 | 1175000 | &nbsp;&nbsp;&nbsp; 1176652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 06/30/30 | 1485000 | &nbsp;&nbsp;&nbsp; 1485638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/31/30 (g) | 3435000 | &nbsp;&nbsp;&nbsp; 3474315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/15/34 | 240000 | &nbsp;&nbsp;&nbsp; 239372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/35 | 100000 | &nbsp;&nbsp;&nbsp; 103922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $9,481,430) <br>|  | &nbsp;&nbsp;&nbsp; 9507489 |
| **Floating Rate Loans (h)—1.0%** | **Floating Rate Loans (h)—1.0%** | **Floating Rate Loans (h)—1.0%** |
| **Aerospace/Defense — 0.0%** | **Aerospace/Defense — 0.0%** | **Aerospace/Defense — 0.0%** |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan J, 6.502%, 3M TSFR + 2.500%, 02/28/31 | 14775 | &nbsp;&nbsp;&nbsp; 14780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan K, 6.252%, 3M TSFR + 2.250%, 03/22/30 | 20378 | &nbsp;&nbsp;&nbsp; 20373 |
|  |  | &nbsp;&nbsp;&nbsp; 35153 |
| **Chemicals — 0.0%** | **Chemicals — 0.0%** | **Chemicals — 0.0%** |
| Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 09/17/32 (i) | 105000 | &nbsp;&nbsp;&nbsp; 105394 |
| **Commercial Services — 0.1%** | **Commercial Services — 0.1%** | **Commercial Services — 0.1%** |
| Trans Union LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, 5.913%, 1M TSFR + 1.750%, <br> 06/24/31<br>| 263972 | &nbsp;&nbsp;&nbsp; 263972 |
| United Rentals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 5.663%, 1M TSFR + 1.500%, <br> 02/14/31<br>| 24936 | &nbsp;&nbsp;&nbsp; 25116 |
|  |  | &nbsp;&nbsp;&nbsp; 289088 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |
| Resideo Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, 6.147%, 1M TSFR + 2.000%, <br> 02/11/28<br>| 30132 | &nbsp;&nbsp;&nbsp; $30207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 M&A 1st lien Term Loan B, 5.839%, 6M TSFR + <br> 2.000%, 06/13/31<br>| 136841 | &nbsp;&nbsp;&nbsp; 137141 |
|  |  | &nbsp;&nbsp;&nbsp; 167348 |
| **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** |
| Citadel Securities LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien Term Loan, 6.163%, 1M TSFR + 2.000%, <br> 10/31/31<br>| 29850 | &nbsp;&nbsp;&nbsp; 29935 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 6.064%, 3M TSFR + 1.750%, 04/16/31 | 294028 | &nbsp;&nbsp;&nbsp; 294369 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| DK Crown Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.005%, 1M TSFR + 1.750%, 03/04/32 | 89550 | &nbsp;&nbsp;&nbsp; 89480 |
| Flutter Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 5.752%, 3M TSFR + 1.750%, 11/30/30 | 200348 | &nbsp;&nbsp;&nbsp; 200035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.002%, 3M TSFR + 2.000%, 06/04/32 | 69825 | &nbsp;&nbsp;&nbsp; 69803 |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 6.393%, 1M TSFR + 2.250%, <br> 04/14/29<br>| 9875 | &nbsp;&nbsp;&nbsp; 9813 |
| Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.163%, 1M TSFR + 2.000%, 05/01/31 | 29625 | &nbsp;&nbsp;&nbsp; 29479 |
|  |  | &nbsp;&nbsp;&nbsp; 398610 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, 6.163% - 6.199%, 1M TSFR + 2.000%, <br> 3M TSFR + 2.000%, 06/22/30 (j)<br>| 129860 | &nbsp;&nbsp;&nbsp; 130510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan, 5.913%, 1M TSFR + 1.750%, <br> 04/06/28<br>| 15000 | &nbsp;&nbsp;&nbsp; 15037 |
|  |  | &nbsp;&nbsp;&nbsp; 145547 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| Asplundh Tree Expert LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B, 5.913%, 1M TSFR + <br> 1.750%, 05/23/31<br>| 143043 | &nbsp;&nbsp;&nbsp; 143177 |
| **Healthcare-Products — 0.0%** | **Healthcare-Products — 0.0%** | **Healthcare-Products — 0.0%** |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 8.413%, 1M TSFR + 4.250%, 01/15/31 | 70561 | &nbsp;&nbsp;&nbsp; 70737 |
| Hanger, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan, 7.663%, 1M TSFR + <br> 3.500%, 10/23/31 (k)<br>| 8328 | &nbsp;&nbsp;&nbsp; 8356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 7.663%, 1M TSFR + 3.500%, 10/23/31 | 64407 | &nbsp;&nbsp;&nbsp; 64625 |
|  |  | &nbsp;&nbsp;&nbsp; 143718 |
| **Healthcare-Services — 0.0%** | **Healthcare-Services — 0.0%** | **Healthcare-Services — 0.0%** |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 5.913%, 1M TSFR + 1.750%, 05/09/31 | 24875 | &nbsp;&nbsp;&nbsp; 24944 |

---

**BHFTI-216**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Floating Rate Loans (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** | **Healthcare-Services—(Continued)** |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B5, 5.752%, 3M TSFR + <br> 1.750%, 01/02/31<br>| 69487 | &nbsp;&nbsp;&nbsp; $69939 |
|  |  | &nbsp;&nbsp;&nbsp; 94883 |
| **Insurance — 0.2%** | **Insurance — 0.2%** | **Insurance — 0.2%** |
| Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.666%, 1M TSFR + 2.500%, 09/19/31 | 244584 | &nbsp;&nbsp;&nbsp; 244188 |
| Ardonagh Midco 3 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 6.752% - 6.950%, 3M TSFR + <br> 2.750%, 6M TSFR + 2.750%, 02/15/31 (j)<br>| 358202 | &nbsp;&nbsp;&nbsp; 357083 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 6.575%, 3M TSFR + 2.250%, 06/20/30 | 29417 | &nbsp;&nbsp;&nbsp; 29493 |
| Ryan Specialty Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, 6.163%, 1M TSFR + 2.000%, <br> 09/15/31<br>| 19850 | &nbsp;&nbsp;&nbsp; 19916 |
| Truist Insurance Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, 6.752%, 3M TSFR + 2.750%, 05/06/31 | 34097 | &nbsp;&nbsp;&nbsp; 34150 |
|  |  | &nbsp;&nbsp;&nbsp; 684830 |
| **Investment Companies — 0.1%** | **Investment Companies — 0.1%** | **Investment Companies — 0.1%** |
| Gryphon Acquire Newco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 6.879%, 6M TSFR + 3.000%, 09/13/32 | 210000 | &nbsp;&nbsp;&nbsp; 210656 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B4, 5.908%, 1M TSFR + 1.750%, <br> 11/08/30<br>| 96740 | &nbsp;&nbsp;&nbsp; 96889 |
| Hilton Grand Vacations Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B, 6.163%, 1M TSFR + <br> 2.000%, 01/17/31<br>| 275411 | &nbsp;&nbsp;&nbsp; 275421 |
| Wyndham Hotels & Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 5.913%, 1M TSFR + 1.750%, 05/24/30 | 266625 | &nbsp;&nbsp;&nbsp; 267792 |
|  |  | &nbsp;&nbsp;&nbsp; 640102 |
| **Machinery-Construction & Mining — 0.0%** | **Machinery-Construction & Mining — 0.0%** | **Machinery-Construction & Mining — 0.0%** |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 10/08/31 (i) | 49813 | &nbsp;&nbsp;&nbsp; 49968 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B6, 8.650%, 1M TSFR + 4.500%, <br> 01/18/28<br>| 31895 | &nbsp;&nbsp;&nbsp; 31775 |
| **Mining — 0.0%** | **Mining — 0.0%** | **Mining — 0.0%** |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, 5.752%, 3M TSFR + 1.750%, 03/11/32 | 112889 | &nbsp;&nbsp;&nbsp; 113171 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| Kaseya, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan B, 7.413%, 1M TSFR + 3.250%, <br> 03/20/32<br>| 115102 | &nbsp;&nbsp;&nbsp; 115410 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B, 5.913%, 1M TSFR + 1.750%, 01/31/30 | 122767 | &nbsp;&nbsp;&nbsp; 122784 |
|  |  | &nbsp;&nbsp;&nbsp; 238194 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Telecommunications — 0.0%** | **Telecommunications — 0.0%** | **Telecommunications — 0.0%** |
| Ciena Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2025 Repriced Term Loan B, 5.885%, 1M TSFR + 1.750%, <br> 10/24/30<br>| 28686 | &nbsp;&nbsp;&nbsp; $28798 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Floating Rate Loans <br>(Cost $3,839,653) <br>|  | &nbsp;&nbsp;&nbsp; 3844716 |
| **Convertible Bond—0.2%** | **Convertible Bond—0.2%** | **Convertible Bond—0.2%** |
| **Telecommunications — 0.2%** | **Telecommunications — 0.2%** | **Telecommunications — 0.2%** |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3.875% PIK, 11/30/30 (d) <br>(Cost $282,344)<br>| 266218 | &nbsp;&nbsp;&nbsp; 654896 |
| **Municipals—0.1%** | **Municipals—0.1%** | **Municipals—0.1%** |
| Tobacco Settlement Financing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.706%, 06/01/46 <br>(Cost $459,881)<br>| 460000 | &nbsp;&nbsp;&nbsp; 350727 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.8%** | **Short-Term Investments—0.8%** | **Short-Term Investments—0.8%** |
| **Repurchase Agreement—0.8%** | **Repurchase Agreement—0.8%** | **Repurchase Agreement—0.8%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $3,034,840; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $3,095,349<br>| 3034587 | &nbsp;&nbsp;&nbsp; 3034587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $3,034,587) <br>|  | &nbsp;&nbsp;&nbsp; 3034587 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (l)—0.9%** | **Securities Lending Reinvestments (l)—0.9%** | **Securities Lending Reinvestments (l)—0.9%** |
| **Short-Term Investment Funds—0.8%** | **Short-Term Investment Funds—0.8%** | **Short-Term Investment Funds—0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (m)<br>| 400000 | &nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares 4.020% (m)<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (m)<br>| 400000 | &nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (m)<br>| 400000 | &nbsp;&nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (m)<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (m)<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (m)<br>| 300000 | &nbsp;&nbsp;&nbsp; 300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br>Premier Class 4.090% (m)<br>| 400000 | &nbsp;&nbsp;&nbsp; 400000 |
|  |  | &nbsp;&nbsp;&nbsp; 2800000 |

---

**BHFTI-217**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (l)—(Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Repurchase Agreements—0.1%** | **Repurchase Agreements—0.1%** | **Repurchase Agreements—0.1%** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $43,185; collateralized <br> by U.S. Treasury Obligations with rates ranging from <br> 0.000% - 4.625%, maturity dates ranging from 10/28/25 <br> - 05/15/35, and an aggregate market value of $44,044<br>| 43180 | &nbsp;&nbsp;&nbsp; $43180 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $292,875; <br> collateralized by U.S. Treasury Obligations with zero <br> coupon, maturity dates ranging from 11/15/35 - <br> 08/15/55, and an aggregate market value of $298,698<br>| 292841 | &nbsp;&nbsp;&nbsp; 292841 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $45,899; collateralized <br> by U.S. Treasury Obligations with rates ranging from <br> 0.125% - 2.375%, maturity dates ranging from 05/31/26 <br> - 07/15/30, and an aggregate market value of $46,812<br>| 45894 | &nbsp;&nbsp;&nbsp; 45894 |
|  |  | &nbsp;&nbsp;&nbsp; 381915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $3,181,915) <br>|  | &nbsp;&nbsp;&nbsp; 3181915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.4% <br>(Cost $290,031,512)<br>|  | &nbsp;&nbsp;&nbsp; 373676662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unfunded Loan Commitments—0.0% <br>(Cost $(7084))<br>|  | &nbsp;&nbsp;&nbsp; (7084)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.4% <br>(Cost $290,024,428) <br>|  | &nbsp;&nbsp;&nbsp; 373669578 |
| Other assets and liabilities (net)—(0.4)%  |  | &nbsp;&nbsp;&nbsp; (1531957)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $372137621 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $16,027,507 and the collateral received consisted of cash in the amount of $3,181,915 and non-cash collateral with a value of $13,217,517. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is 

---

| | |
|:---|:---|
|  | determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (d) | Payment-in kind security for which part of the income earned may be paid as additional <br> principal.<br>|
| (e) | Security is a "step up" bond where coupon increases or steps up at a predetermined date. <br> Rate shown is current coupon rate.<br>|
| (f) | Principal amount of security is adjusted for inflation. |
| (g) | All or a portion of the security was pledged as collateral against open futures contracts. As of <br> September 30, 2025, the market value of securities pledged was $708,012.<br>|
| (h) | Floating rate loans ("Senior Loans") often require prepayments from excess cash flows or <br> permit the borrowers to repay at their election. The degree to which borrowers repay, <br> whether as a contractual requirement or at their election, cannot be predicted with accuracy. <br> As a result, the actual remaining maturity may be substantially less than the stated maturities <br> shown. However, Senior Loans will generally have an expected average life of approximately <br> two to four years. Senior Loans typically have rates of interest which are determined <br> periodically by reference to a base lending rate, plus a spread. These base rates are primarily <br> the Secured Overnight Financing Rate and secondarily, the prime rate offered by one or more <br> major United States banks. Base lending rates may be subject to a floor, or a minimum rate.<br>|
| (i) | This loan will settle after September 30, 2025, at which time the interest rate will be <br> determined.<br>|
| (j) | The stated interest rates represent the range of rates applicable to the underlying contracts <br> within the loan tranche as of September 30, 2025.<br>|
| (k) | Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain <br> credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to <br> fund these commitments at the borrower's discretion.<br>|
| (l) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (m) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $39,725,809, which is 10.7% of net assets.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Country Diversification as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| United States | 68.1 |
| United Kingdom | 3.7 |
| Taiwan | 3.0 |
| Netherlands | 3.0 |
| Canada | 2.9 |
| Japan | 2.7 |
| Sweden | 2.3 |
| Australia | 1.5 |
| Israel | 1.2 |
| Mexico | 1.1 |

---

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| CNH | &nbsp;&nbsp; 44145000 | HSBCU | 12/17/25 | USD | 6242964 | &nbsp;&nbsp; $(20419)<br>|
| EUR | &nbsp;&nbsp; 8546000 | MSC | 12/17/25 | USD | 10067538 | &nbsp;&nbsp; 9895 |
| JPY | &nbsp;&nbsp; 599004000 | MSC | 12/17/25 | USD | 4106136 | &nbsp;&nbsp; (24534)<br>|

---

**BHFTI-218**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| AUD | &nbsp;&nbsp; 1985000 | HSBCU | 12/17/25 | USD | 1319231 | &nbsp;&nbsp; $4573 |
| BRL | &nbsp;&nbsp; 6742000 | BOA | 12/02/25 | USD | 1215322 | &nbsp;&nbsp; (33381)<br>|
| CAD | &nbsp;&nbsp; 3289000 | CBNA | 12/17/25 | USD | 2390203 | &nbsp;&nbsp; 18407 |
| COP | &nbsp;&nbsp; 4796861981 | UBSA | 12/17/25 | USD | 1204273 | &nbsp;&nbsp; (6818)<br>|
| GBP | &nbsp;&nbsp; 265000 | UBSA | 12/17/25 | USD | 358956 | &nbsp;&nbsp; 2521 |
| IDR | &nbsp;&nbsp; 6000000041 | BOA | 12/17/25 | USD | 364764 | &nbsp;&nbsp; 4995 |
| JPY | &nbsp;&nbsp; 9000000 | MSC | 12/17/25 | USD | 62076 | &nbsp;&nbsp; 750 |
| JPY | &nbsp;&nbsp; 20000000 | MSC | 12/17/25 | USD | 137635 | &nbsp;&nbsp; 1355 |
| KRW | &nbsp;&nbsp; 825594000 | BOA | 12/17/25 | USD | 597901 | &nbsp;&nbsp; 7238 |
| MXN | &nbsp;&nbsp; 30479000 | BOA | 12/17/25 | USD | 1617531 | &nbsp;&nbsp; (33338)<br>|
| NZD | &nbsp;&nbsp; 530000 | MSC | 12/17/25 | USD | 316382 | &nbsp;&nbsp; 8218 |
| ZAR | &nbsp;&nbsp; 4000000 | BOA | 12/17/25 | USD | 223706 | &nbsp;&nbsp; (6655)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Cross Currency** <br> **Contracts to Buy** | **Cross Currency** <br> **Contracts to Buy** |  |  |  |  |  |
| EUR | &nbsp;&nbsp; 320646 | MSC | 12/17/25 | NOK | 3786000 | &nbsp;&nbsp; (1352)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp; $(68545)<br>|

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Euro-Bund Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 26 | EUR | 3342820 | &nbsp;&nbsp;&nbsp; $1221 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 18 | USD | 3751172 | &nbsp;&nbsp;&nbsp; 1979 |
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 133 | USD | 14522976 | &nbsp;&nbsp;&nbsp; 18083 |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 67 | USD | 7537500 | &nbsp;&nbsp;&nbsp; 33507 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (19)<br>| USD | (2215281)<br>| &nbsp;&nbsp;&nbsp; (46312)<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (106)<br>| USD | (12198281)<br>| &nbsp;&nbsp;&nbsp; (132103)<br>|
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (10)<br>| USD | (1200625)<br>| &nbsp;&nbsp;&nbsp; (30695)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp;&nbsp; $(154320)<br>|

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; $7816986 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $7816986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp; 12348397 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12348397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp; 8276418 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8276418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp; 29097951 | &nbsp;&nbsp;&nbsp; 4092844 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33190795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; 7552500 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7552500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp; 6604370 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6604370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6388009 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6388009 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6261377 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6261377 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 11112272 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11112272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; 2012754 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2012754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 12847150 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12847150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 1405393 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1405393 |

---

**BHFTI-219**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Global Allocation Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; $9740774 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $9740774 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 5468955 | &nbsp;&nbsp;&nbsp; 6731420 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12200375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp; 12812607 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12812607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 17886926 | &nbsp;&nbsp;&nbsp; 8255763 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26142689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 23400295 | &nbsp;&nbsp;&nbsp; 21749580 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 45149875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 10207175 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10207175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; 18542887 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18542887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2428568 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2428568 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 197133810 | &nbsp;&nbsp;&nbsp; 55907561 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 253041371 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69739389 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69739389 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30321572 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30321572 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9507489 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9507489 |
| Total Floating Rate Loans (Less Unfunded Loan Commitments of $7,084)\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3837632 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3837632 |
| Total Convertible Bonds\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 654896 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 654896 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 350727 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 350727 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3034587 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3034587 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2800000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 381915 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 381915 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp; 381915 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3181915 |
| Total Investments | &nbsp;&nbsp;&nbsp; $199933810 | &nbsp;&nbsp;&nbsp; $173735768 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $373669578 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(3181915)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(3181915)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $57952 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $57952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (126497)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (126497)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(68545)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(68545)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $54790 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $54790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (209110)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (209110)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $(154320)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(154320)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-220**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—98.5% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 4.6%** | **Aerospace & Defense — 4.6%** | **Aerospace & Defense — 4.6%** |
| Boeing Co. (a) | 685212 | &nbsp;&nbsp;&nbsp; $147889306 |
| **Air Freight & Logistics — 1.0%** | **Air Freight & Logistics — 1.0%** | **Air Freight & Logistics — 1.0%** |
| Expeditors International of Washington, Inc. (b) | 262622 | &nbsp;&nbsp;&nbsp; 32194831 |
| **Automobiles — 8.5%** | **Automobiles — 8.5%** | **Automobiles — 8.5%** |
| Tesla, Inc. (a) | 618706 | &nbsp;&nbsp;&nbsp; 275150932 |
| **Beverages — 2.5%** | **Beverages — 2.5%** | **Beverages — 2.5%** |
| Monster Beverage Corp. (a) | 1187999 | &nbsp;&nbsp;&nbsp; 79964213 |
| **Biotechnology — 3.9%** | **Biotechnology — 3.9%** | **Biotechnology — 3.9%** |
| Regeneron Pharmaceuticals, Inc.  | 90165 | &nbsp;&nbsp;&nbsp; 50697075 |
| Vertex Pharmaceuticals, Inc. (a) | 190550 | &nbsp;&nbsp;&nbsp; 74627002 |
|  |  | &nbsp;&nbsp;&nbsp; 125324077 |
| **Broadline Retail — 5.0%** | **Broadline Retail — 5.0%** | **Broadline Retail — 5.0%** |
| Alibaba Group Holding Ltd. (ADR) (b) | 13269 | &nbsp;&nbsp;&nbsp; 2371568 |
| Amazon.com, Inc. (a) | 728164 | &nbsp;&nbsp;&nbsp; 159882970 |
|  |  | &nbsp;&nbsp;&nbsp; 162254538 |
| **Capital Markets — 1.6%** | **Capital Markets — 1.6%** | **Capital Markets — 1.6%** |
| FactSet Research Systems, Inc. (b) | 69188 | &nbsp;&nbsp;&nbsp; 19821670 |
| SEI Investments Co.  | 394139 | &nbsp;&nbsp;&nbsp; 33442694 |
|  |  | &nbsp;&nbsp;&nbsp; 53264364 |
| **Entertainment — 9.1%** | **Entertainment — 9.1%** | **Entertainment — 9.1%** |
| Netflix, Inc. (a) | 183242 | &nbsp;&nbsp;&nbsp; 219692499 |
| Walt Disney Co.  | 667422 | &nbsp;&nbsp;&nbsp; 76419819 |
|  |  | &nbsp;&nbsp;&nbsp; 296112318 |
| **Financial Services — 6.0%** | **Financial Services — 6.0%** | **Financial Services — 6.0%** |
| Block, Inc. (a) (b) | 333830 | &nbsp;&nbsp;&nbsp; 24125894 |
| PayPal Holdings, Inc. (a) (b) | 302759 | &nbsp;&nbsp;&nbsp; 20303019 |
| Visa, Inc. - Class A (b) | 439683 | &nbsp;&nbsp;&nbsp; 150098982 |
|  |  | &nbsp;&nbsp;&nbsp; 194527895 |
| **Health Care Equipment & Supplies — 1.1%** | **Health Care Equipment & Supplies — 1.1%** | **Health Care Equipment & Supplies — 1.1%** |
| Intuitive Surgical, Inc. (a) | 80139 | &nbsp;&nbsp;&nbsp; 35840565 |
| **Hotels, Restaurants & Leisure — 2.2%** | **Hotels, Restaurants & Leisure — 2.2%** | **Hotels, Restaurants & Leisure — 2.2%** |
| Starbucks Corp. (b) | 442877 | &nbsp;&nbsp;&nbsp; 37467394 |
| Yum China Holdings, Inc. (b) | 165606 | &nbsp;&nbsp;&nbsp; 7107810 |
| Yum! Brands, Inc.  | 181742 | &nbsp;&nbsp;&nbsp; 27624784 |
|  |  | &nbsp;&nbsp;&nbsp; 72199988 |
| **Interactive Media & Services — 14.9%** | **Interactive Media & Services — 14.9%** | **Interactive Media & Services — 14.9%** |
| Alphabet, Inc. - Class A | 920198 | &nbsp;&nbsp;&nbsp; 223700134 |
| Meta Platforms, Inc. - Class A | 351583 | &nbsp;&nbsp;&nbsp; 258195523 |
|  |  | &nbsp;&nbsp;&nbsp; 481895657 |
| **IT Services — 3.0%** | **IT Services — 3.0%** | **IT Services — 3.0%** |
| Shopify, Inc. - Class A (a) | 645173 | &nbsp;&nbsp;&nbsp; 95879160 |
| **Life Sciences Tools & Services — 1.6%** | **Life Sciences Tools & Services — 1.6%** | **Life Sciences Tools & Services — 1.6%** |
| Illumina, Inc. (a) (b) | 195143 | &nbsp;&nbsp;&nbsp; 18532731 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Life Sciences Tools & Services—(Continued)** | **Life Sciences Tools & Services—(Continued)** | **Life Sciences Tools & Services—(Continued)** |
| Thermo Fisher Scientific, Inc.  | 69123 | &nbsp;&nbsp;&nbsp; $33526037 |
|  |  | &nbsp;&nbsp;&nbsp; 52058768 |
| **Machinery — 0.9%** | **Machinery — 0.9%** | **Machinery — 0.9%** |
| Deere & Co.  | 62773 | &nbsp;&nbsp;&nbsp; 28703582 |
| **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** |
| Novartis AG (ADR) | 262516 | &nbsp;&nbsp;&nbsp; 33665052 |
| Novo Nordisk AS (ADR) (b) | 765756 | &nbsp;&nbsp;&nbsp; 42491800 |
| Roche Holding AG (ADR) (b) | 597427 | &nbsp;&nbsp;&nbsp; 24978423 |
|  |  | &nbsp;&nbsp;&nbsp; 101135275 |
| **Semiconductors & Semiconductor Equipment — 12.3%** | **Semiconductors & Semiconductor Equipment — 12.3%** | **Semiconductors & Semiconductor Equipment — 12.3%** |
| NVIDIA Corp.  | 1950424 | &nbsp;&nbsp;&nbsp; 363910110 |
| QUALCOMM, Inc.  | 211622 | &nbsp;&nbsp;&nbsp; 35205436 |
|  |  | &nbsp;&nbsp;&nbsp; 399115546 |
| **Software — 16.5%** | **Software — 16.5%** | **Software — 16.5%** |
| Autodesk, Inc. (a) | 264241 | &nbsp;&nbsp;&nbsp; 83941439 |
| Microsoft Corp.  | 282534 | &nbsp;&nbsp;&nbsp; 146338485 |
| Oracle Corp.  | 784059 | &nbsp;&nbsp;&nbsp; 220508753 |
| Salesforce, Inc.  | 265894 | &nbsp;&nbsp;&nbsp; 63016878 |
| Workday, Inc. - Class A (a) | 92269 | &nbsp;&nbsp;&nbsp; 22211916 |
|  |  | &nbsp;&nbsp;&nbsp; 536017471 |
| **Textiles, Apparel & Luxury Goods — 0.7%** | **Textiles, Apparel & Luxury Goods — 0.7%** | **Textiles, Apparel & Luxury Goods — 0.7%** |
| NIKE, Inc. - Class B | 321043 | &nbsp;&nbsp;&nbsp; 22386328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,504,854,126) <br>|  | &nbsp;&nbsp;&nbsp; 3191914814 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.9%** | **Short-Term Investments—0.9%** | **Short-Term Investments—0.9%** |
| **Repurchase Agreement—0.9%** | **Repurchase Agreement—0.9%** | **Repurchase Agreement—0.9%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $28,526,731; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $29,094,908<br>| 28524354 | &nbsp;&nbsp;&nbsp; 28524354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $28,524,354) <br>|  | &nbsp;&nbsp;&nbsp; 28524354 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—1.3%** | **Securities Lending Reinvestments (c)—1.3%** | **Securities Lending Reinvestments (c)—1.3%** |
| **Short-Term Investment Funds—0.1%** | **Short-Term Investment Funds—0.1%** | **Short-Term Investment Funds—0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares 4.050% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 4000000 |

---

**BHFTI-221**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Certificate of Deposit—0.1%** | **Certificate of Deposit—0.1%** | **Certificate of Deposit—0.1%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/24/25 | 2000000 | &nbsp;&nbsp;&nbsp; $1994560 |
| **Repurchase Agreements—0.8%** | **Repurchase Agreements—0.8%** | **Repurchase Agreements—0.8%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $1,000,117; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $2,000,237; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $2,000,232; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $2,040,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $600,069; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% <br> - 4.625%, maturity dates ranging from 10/28/25 - <br> 05/15/35, and an aggregate market value of $612,000<br>| 600000 | &nbsp;&nbsp;&nbsp; 600000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $6,056,415; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $6,176,825<br>| 6055710 | &nbsp;&nbsp;&nbsp; 6055710 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $4,000,476; <br> collateralized by various Common Stock with an aggregate <br> market value of $4,460,377<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $2,000,238; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,230,188<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $2,001,672; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $2,224,376<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $700,080; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% <br> - 2.375%, maturity dates ranging from 05/31/26 - <br> 07/15/30, and an aggregate market value of $714,000<br>| 700000 | &nbsp;&nbsp;&nbsp; 700000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $1,000,118; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,112,442<br>| 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $3,340,389; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,674,428<br>| 3340000 | &nbsp;&nbsp;&nbsp; 3340000 |
|  |  | &nbsp;&nbsp;&nbsp; 26695710 |
| **Time Deposits—0.3%** | **Time Deposits—0.3%** | **Time Deposits—0.3%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 11000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $43,690,132) <br>|  | &nbsp;&nbsp;&nbsp; 43690270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—100.7% <br>(Cost $1,577,068,612) <br>|  | &nbsp;&nbsp;&nbsp; 3264129438 |
| Other assets and liabilities (net)—(0.7)%  |  | &nbsp;&nbsp;&nbsp; (24298145)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $3239831293 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $95,222,073 and the collateral received consisted of cash in the amount of $43,675,340 and non-cash collateral with a value of $53,535,238. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(d) The rate shown represents the annualized seven-day yield as of September 30, 2025.

**BHFTI-222**

------

**Brighthouse Funds Trust I**

**Loomis Sayles Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $3191914814 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3191914814 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28524354 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28524354 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificate of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1994560 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1994560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26695710 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26695710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 39690270 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43690270 |
| Total Investments | &nbsp;&nbsp;&nbsp; $3195914814 | &nbsp;&nbsp;&nbsp; $68214624 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3264129438 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(43675340)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(43675340)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-223**

------

**Brighthouse Funds Trust I**

**MetLife Multi-Index Targeted Risk Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—75.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Affiliated Mutual Funds — 75.0%** | **Affiliated Mutual Funds — 75.0%** | **Affiliated Mutual Funds — 75.0%** |
| MetLife Aggregate Bond Index Portfolio (Class A) (a) | 219344087 | &nbsp;&nbsp;&nbsp; $2118863878 |
| MetLife Mid Cap Stock Index Portfolio (Class A) (a) | 14721852 | &nbsp;&nbsp;&nbsp; 254835254 |
| MetLife MSCI EAFE Index Portfolio (Class A) (a) | 32732464 | &nbsp;&nbsp;&nbsp; 590493658 |
| MetLife Russell 2000 Index Portfolio (Class A) (a) | 8120932 | &nbsp;&nbsp;&nbsp; 154541335 |
| MetLife Stock Index Portfolio (Class A) (a) | 11871021 | &nbsp;&nbsp;&nbsp; 860411616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $3,814,344,275) <br>|  | &nbsp;&nbsp;&nbsp; 3979145741 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—24.9%** | **Short-Term Investments—24.9%** | **Short-Term Investments—24.9%** |
| **Discount Note—0.2%** | **Discount Note—0.2%** | **Discount Note—0.2%** |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/01/25 (b) | 10030000 | &nbsp;&nbsp;&nbsp; 10028877 |
| **Repurchase Agreement—0.1%** | **Repurchase Agreement—0.1%** | **Repurchase Agreement—0.1%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $8,371,375; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $8,538,193<br>| 8370678 | &nbsp;&nbsp;&nbsp; 8370678 |
| **U.S. Treasury—24.6%** | **U.S. Treasury—24.6%** | **U.S. Treasury—24.6%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.546%, 10/07/25 (b) | 30020000 | &nbsp;&nbsp;&nbsp; 29999650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.632%, 10/07/25 (b) | 24800000 | &nbsp;&nbsp;&nbsp; 24783189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.670%, 10/07/25 (b) | 6270000 | &nbsp;&nbsp;&nbsp; 6265750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.677%, 10/07/25 (b) | 176595000 | &nbsp;&nbsp;&nbsp; 176475290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.924%, 12/18/25 (b) | 191170000 | &nbsp;&nbsp;&nbsp; 189568364 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.942%, 10/28/25 (b) | 160000000 | &nbsp;&nbsp;&nbsp; $159514648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.943%, 10/28/25 (b) | 8000000 | &nbsp;&nbsp;&nbsp; 7975732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.946%, 10/28/25 (b) | 10000000 | &nbsp;&nbsp;&nbsp; 9969666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.962%, 10/28/25 (b) | 10000000 | &nbsp;&nbsp;&nbsp; 9969666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.966%, 11/12/25 (b) (c) (d) | 6740000 | &nbsp;&nbsp;&nbsp; 6708536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/23/25 (b) | 247130000 | &nbsp;&nbsp;&nbsp; 246521751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.208%, 11/12/25 (b) (c) (d) | 30400000 | &nbsp;&nbsp;&nbsp; 30258087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.210%, 11/12/25 (b) (c) (d) | 174570000 | &nbsp;&nbsp;&nbsp; 173755076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.221%, 11/25/25 (b) | 236210000 | &nbsp;&nbsp;&nbsp; 234768299 |
|  |  | &nbsp;&nbsp;&nbsp; 1306533704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $1,324,757,784) <br>|  | &nbsp;&nbsp;&nbsp; 1324933259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.9% <br>(Cost $5,139,102,059) <br>|  | &nbsp;&nbsp;&nbsp; 5304079000 |
| Other assets and liabilities (net)—0.1%  |  | &nbsp;&nbsp;&nbsp; 3661143 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $5307740143 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amounts stated in U.S. dollars unless otherwise noted.

(a) A Portfolio of Brighthouse Funds Trust II. (See the table that follows for a summary of transactions in affiliated issuers.) 

(b) The rate shown represents current yield to maturity.

(c) All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2025, the market value of securities pledged was $69,673,227. 

(d) All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2025, the market value of securities pledged was $107,495,837. 

**Transactions in Securities of Affiliated Issuers**

The Portfolio does not invest in the Underlying Portfolios for the purpose of exercising control; however, investments by the Portfolio within its principal investment strategies may represent a significant portion of the Underlying Portfolios' net assets. Transactions in the Underlying Portfolios for the six months ended September 30, 2025 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| MetLife Aggregate Bond Index Portfolio (Class A) | &nbsp;&nbsp; $2360652627 | &nbsp;&nbsp; $44941073 | &nbsp;&nbsp; $(369982031)<br>| &nbsp;&nbsp; $(57761665)<br>| &nbsp;&nbsp; $141013874 | &nbsp;&nbsp; $2118863878 |
| MetLife Mid Cap Stock Index Portfolio (Class A) | &nbsp;&nbsp; 272254880 | &nbsp;&nbsp; 22163135 | &nbsp;&nbsp; (31385327)<br>| &nbsp;&nbsp; 2880601 | &nbsp;&nbsp; (11078035)<br>| &nbsp;&nbsp; 254835254 |
| MetLife MSCI EAFE Index Portfolio (Class A) | &nbsp;&nbsp; 646606593 | &nbsp;&nbsp; 15891311 | &nbsp;&nbsp; (201160486)<br>| &nbsp;&nbsp; 35951648 | &nbsp;&nbsp; 93204592 | &nbsp;&nbsp; 590493658 |
| MetLife Russell 2000 Index Portfolio (Class A) | &nbsp;&nbsp; 163622398 | &nbsp;&nbsp; 12955664 | &nbsp;&nbsp; (27170415)<br>| &nbsp;&nbsp; (1227384)<br>| &nbsp;&nbsp; 6361072 | &nbsp;&nbsp; 154541335 |
| MetLife Stock Index Portfolio (Class A) | &nbsp;&nbsp; 939663068 | &nbsp;&nbsp; 88207874 | &nbsp;&nbsp; (198722399)<br>| &nbsp;&nbsp; 38883732 | &nbsp;&nbsp; (7620659)<br>| &nbsp;&nbsp; 860411616 |
|  | &nbsp;&nbsp; $4382799566 | &nbsp;&nbsp; $184159057 | &nbsp;&nbsp; $(828420658)<br>| &nbsp;&nbsp; $18726932 | &nbsp;&nbsp; $221880844 | &nbsp;&nbsp; $3979145741 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Capital Gain** <br>**Distributions from** <br>**Affiliated Investments**<br>| **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| MetLife Aggregate Bond Index Portfolio (Class A) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $44941073 | &nbsp;&nbsp; 219344087 |
| MetLife Mid Cap Stock Index Portfolio (Class A) | &nbsp;&nbsp; 19186437 | &nbsp;&nbsp; 2976698 | &nbsp;&nbsp; 14721852 |
| MetLife MSCI EAFE Index Portfolio (Class A) | &nbsp;&nbsp; 4520195 | &nbsp;&nbsp; 11371116 | &nbsp;&nbsp; 32732464 |
| MetLife Russell 2000 Index Portfolio (Class A) | &nbsp;&nbsp; 8555934 | &nbsp;&nbsp; 1899328 | &nbsp;&nbsp; 8120932 |
| MetLife Stock Index Portfolio (Class A) | &nbsp;&nbsp; 79179206 | &nbsp;&nbsp; 9028668 | &nbsp;&nbsp; 11871021 |
|  | &nbsp;&nbsp; $111441772 | &nbsp;&nbsp; $70216883 |  |

---

**BHFTI-224**

------

**Brighthouse Funds Trust I**

**MetLife Multi-Index Targeted Risk Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 4318 | USD | 601346270 | &nbsp;&nbsp;&nbsp; $(2080081)<br>|
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 1330 | USD | 163290750 | &nbsp;&nbsp;&nbsp; 2615077 |
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 2640 | USD | 889515000 | &nbsp;&nbsp;&nbsp; 12260975 |
| S&P Midcap 400 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 776 | USD | 255009120 | &nbsp;&nbsp;&nbsp; (1769054)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $11026917 |

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 12M SOFR | Annually | 3.530<br> %<br>| Annually | 12/16/35 | USD | 255000000 | &nbsp;&nbsp; $(2753801)<br>| &nbsp;&nbsp; $2565 | &nbsp;&nbsp; $(2756366)<br>|
| Pay | 12M SOFR | Annually | 3.750<br> %<br>| Annually | 11/19/35 | USD | 255000000 | &nbsp;&nbsp; 1973543 | &nbsp;&nbsp; 2565 | &nbsp;&nbsp; 1970978 |
| Pay | 12M SOFR | Annually | 3.780<br> %<br>| Annually | 07/11/35 | USD | 255000000 | &nbsp;&nbsp; 2778897 | &nbsp;&nbsp; (51264)<br>| &nbsp;&nbsp; 2830161 |
| Pay | 12M SOFR | Annually | 3.840<br> %<br>| Annually | 10/17/35 | USD | 255000000 | &nbsp;&nbsp; 3907566 | &nbsp;&nbsp; 2566 | &nbsp;&nbsp; 3905000 |
| Pay | 12M SOFR | Annually | 3.870<br> %<br>| Annually | 09/20/35 | USD | 255000000 | &nbsp;&nbsp; 4560243 | &nbsp;&nbsp; 2558 | &nbsp;&nbsp; 4557685 |
| Pay | 12M SOFR | Annually | 3.940<br> %<br>| Annually | 08/16/35 | USD | 255000000 | &nbsp;&nbsp; 6100335 | &nbsp;&nbsp; 2780 | &nbsp;&nbsp; 6097555 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $16566783 | &nbsp;&nbsp; $(38230)<br>| &nbsp;&nbsp; $16605013 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; $3979145741 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3979145741 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1324933259 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1324933259 |
| Total Investments | &nbsp;&nbsp;&nbsp; $3979145741 | &nbsp;&nbsp;&nbsp; $1324933259 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $5304079000 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $14876052 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $14876052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (3849135)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3849135)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $11026917 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $11026917 |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $19361379 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $19361379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2756366)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2756366)<br>|
| Total Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16605013 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16605013 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-225**

------

**Brighthouse Funds Trust I**

**MFS**<sup>®</sup> **Research International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—97.7% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Australia — 1.9%** | **Australia — 1.9%** | **Australia — 1.9%** |
| APA Group | 698758 | &nbsp;&nbsp;&nbsp; $4107073 |
| Aristocrat Leisure Ltd.  | 125352 | &nbsp;&nbsp;&nbsp; 5821806 |
| Glencore PLC (a) | 2520430 | &nbsp;&nbsp;&nbsp; 11647535 |
| Rio Tinto PLC | 86675 | &nbsp;&nbsp;&nbsp; 5711897 |
|  |  | &nbsp;&nbsp;&nbsp; 27288311 |
| **Austria — 0.6%** | **Austria — 0.6%** | **Austria — 0.6%** |
| Erste Group Bank AG | 89412 | &nbsp;&nbsp;&nbsp; 8740519 |
| **Brazil — 1.4%** | **Brazil — 1.4%** | **Brazil — 1.4%** |
| B3 SA - Brasil Bolsa Balcao | 3761700 | &nbsp;&nbsp;&nbsp; 9470953 |
| Banco Bradesco SA (ADR) | 3258580 | &nbsp;&nbsp;&nbsp; 11014000 |
|  |  | &nbsp;&nbsp;&nbsp; 20484953 |
| **Canada — 2.2%** | **Canada — 2.2%** | **Canada — 2.2%** |
| Alimentation Couche-Tard, Inc.  | 104501 | &nbsp;&nbsp;&nbsp; 5575339 |
| Constellation Software, Inc.  | 5608 | &nbsp;&nbsp;&nbsp; 15223764 |
| RB Global, Inc. (b) | 96894 | &nbsp;&nbsp;&nbsp; 10494935 |
|  |  | &nbsp;&nbsp;&nbsp; 31294038 |
| **China — 0.2%** | **China — 0.2%** | **China — 0.2%** |
| China Resources Gas Group Ltd.  | 1263524 | &nbsp;&nbsp;&nbsp; 3221228 |
| **Denmark — 1.8%** | **Denmark — 1.8%** | **Denmark — 1.8%** |
| Novo Nordisk AS - Class B (b) | 339726 | &nbsp;&nbsp;&nbsp; 18751419 |
| Novonesis (Novozymes) - B Shares (b) | 113739 | &nbsp;&nbsp;&nbsp; 6971709 |
|  |  | &nbsp;&nbsp;&nbsp; 25723128 |
| **France — 8.4%** | **France — 8.4%** | **France — 8.4%** |
| BNP Paribas SA | 247583 | &nbsp;&nbsp;&nbsp; 22569224 |
| Cie Generale des Etablissements Michelin SCA | 212626 | &nbsp;&nbsp;&nbsp; 7637383 |
| Legrand SA | 121778 | &nbsp;&nbsp;&nbsp; 20313956 |
| LVMH Moet Hennessy Louis Vuitton SE | 33407 | &nbsp;&nbsp;&nbsp; 20441213 |
| Pernod Ricard SA | 113987 | &nbsp;&nbsp;&nbsp; 11207805 |
| Thales SA | 52180 | &nbsp;&nbsp;&nbsp; 16352071 |
| TotalEnergies SE | 338978 | &nbsp;&nbsp;&nbsp; 20684767 |
|  |  | &nbsp;&nbsp;&nbsp; 119206419 |
| **Germany — 5.0%** | **Germany — 5.0%** | **Germany — 5.0%** |
| E.ON SE | 505241 | &nbsp;&nbsp;&nbsp; 9499649 |
| GEA Group AG | 187339 | &nbsp;&nbsp;&nbsp; 13839982 |
| LEG Immobilien SE | 63575 | &nbsp;&nbsp;&nbsp; 5054212 |
| Merck KGaA | 89080 | &nbsp;&nbsp;&nbsp; 11458339 |
| MTU Aero Engines AG | 43830 | &nbsp;&nbsp;&nbsp; 20116752 |
| SAP SE | 9072 | &nbsp;&nbsp;&nbsp; 2432127 |
| Symrise AG | 90393 | &nbsp;&nbsp;&nbsp; 7877281 |
|  |  | &nbsp;&nbsp;&nbsp; 70278342 |
| **Greece — 0.2%** | **Greece — 0.2%** | **Greece — 0.2%** |
| Hellenic Telecommunications Organization SA | 121950 | &nbsp;&nbsp;&nbsp; 2306401 |
| **Hong Kong — 1.9%** | **Hong Kong — 1.9%** | **Hong Kong — 1.9%** |
| AIA Group Ltd.  | 1238428 | &nbsp;&nbsp;&nbsp; 11870628 |
| CLP Holdings Ltd.  | 502500 | &nbsp;&nbsp;&nbsp; 4164906 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hong Kong — (Continued)** | **Hong Kong — (Continued)** | **Hong Kong — (Continued)** |
| Techtronic Industries Co. Ltd.  | 831000 | &nbsp;&nbsp;&nbsp; $10661152 |
|  |  | &nbsp;&nbsp;&nbsp; 26696686 |
| **India — 1.5%** | **India — 1.5%** | **India — 1.5%** |
| HDFC Bank Ltd.  | 1335980 | &nbsp;&nbsp;&nbsp; 14336192 |
| Reliance Industries Ltd.  | 456231 | &nbsp;&nbsp;&nbsp; 7010106 |
|  |  | &nbsp;&nbsp;&nbsp; 21346298 |
| **Ireland — 1.7%** | **Ireland — 1.7%** | **Ireland — 1.7%** |
| Bank of Ireland Group PLC | 1441105 | &nbsp;&nbsp;&nbsp; 23855388 |
| **Italy — 2.2%** | **Italy — 2.2%** | **Italy — 2.2%** |
| Davide Campari-Milano NV (b) | 1336054 | &nbsp;&nbsp;&nbsp; 8417602 |
| Eni SpA (b) | 769595 | &nbsp;&nbsp;&nbsp; 13438485 |
| Ryanair Holdings PLC (ADR) (b) | 154068 | &nbsp;&nbsp;&nbsp; 9277975 |
|  |  | &nbsp;&nbsp;&nbsp; 31134062 |
| **Japan — 19.2%** | **Japan — 19.2%** | **Japan — 19.2%** |
| Capcom Co. Ltd.  | 118900 | &nbsp;&nbsp;&nbsp; 3236536 |
| Daiichi Sankyo Co. Ltd.  | 681300 | &nbsp;&nbsp;&nbsp; 15249097 |
| Daikin Industries Ltd.  | 86100 | &nbsp;&nbsp;&nbsp; 9905977 |
| Denso Corp. (b) | 186200 | &nbsp;&nbsp;&nbsp; 2681390 |
| Disco Corp.  | 10500 | &nbsp;&nbsp;&nbsp; 3298444 |
| FUJIFILM Holdings Corp.  | 53700 | &nbsp;&nbsp;&nbsp; 1338126 |
| Fujitsu Ltd.  | 429900 | &nbsp;&nbsp;&nbsp; 10107955 |
| Hitachi Ltd.  | 1208100 | &nbsp;&nbsp;&nbsp; 31724713 |
| Kao Corp.  | 214500 | &nbsp;&nbsp;&nbsp; 9348674 |
| KDDI Corp. (b) | 811400 | &nbsp;&nbsp;&nbsp; 13001493 |
| Kirin Holdings Co. Ltd.  | 514700 | &nbsp;&nbsp;&nbsp; 7547117 |
| Mitsubishi Electric Corp. (b) | 796400 | &nbsp;&nbsp;&nbsp; 20733033 |
| Mitsubishi UFJ Financial Group, Inc. (b) | 1483600 | &nbsp;&nbsp;&nbsp; 23502260 |
| Mitsui & Co. Ltd.  | 527500 | &nbsp;&nbsp;&nbsp; 13098982 |
| Pan Pacific International Holdings Corp. (b) | 2054500 | &nbsp;&nbsp;&nbsp; 13552769 |
| Shin-Etsu Chemical Co. Ltd.  | 379400 | &nbsp;&nbsp;&nbsp; 12414971 |
| Sompo Holdings, Inc. (b) | 287100 | &nbsp;&nbsp;&nbsp; 8867004 |
| Sony Financial Group, Inc. (a) | 167534 | &nbsp;&nbsp;&nbsp; 185790 |
| Sony Group Corp.  | 652300 | &nbsp;&nbsp;&nbsp; 18717885 |
| Suzuki Motor Corp. (b) | 882100 | &nbsp;&nbsp;&nbsp; 12858135 |
| Taisei Corp. (b) | 124600 | &nbsp;&nbsp;&nbsp; 8557671 |
| Terumo Corp.  | 400300 | &nbsp;&nbsp;&nbsp; 6606465 |
| Tokyo Electron Ltd.  | 74900 | &nbsp;&nbsp;&nbsp; 13504471 |
| Toyota Industries Corp. (b) | 83900 | &nbsp;&nbsp;&nbsp; 9442021 |
| Yamaha Corp. (b) | 336600 | &nbsp;&nbsp;&nbsp; 2232126 |
|  |  | &nbsp;&nbsp;&nbsp; 271713105 |
| **Macau — 0.3%** | **Macau — 0.3%** | **Macau — 0.3%** |
| Sands China Ltd.  | 1333200 | &nbsp;&nbsp;&nbsp; 3724355 |
| **Netherlands — 7.1%** | **Netherlands — 7.1%** | **Netherlands — 7.1%** |
| ABN AMRO Bank NV | 789558 | &nbsp;&nbsp;&nbsp; 25285065 |
| Akzo Nobel NV | 109302 | &nbsp;&nbsp;&nbsp; 7785675 |
| ASML Holding NV | 22080 | &nbsp;&nbsp;&nbsp; 21527169 |
| Euronext NV | 163880 | &nbsp;&nbsp;&nbsp; 24493567 |
| Koninklijke KPN NV | 2056103 | &nbsp;&nbsp;&nbsp; 9872342 |

---

**BHFTI-226**

------

**Brighthouse Funds Trust I**

**MFS**<sup>®</sup> **Research International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Netherlands — (Continued)** | **Netherlands — (Continued)** | **Netherlands — (Continued)** |
| Wolters Kluwer NV | 82045 | &nbsp;&nbsp;&nbsp; $11199771 |
|  |  | &nbsp;&nbsp;&nbsp; 100163589 |
| **Portugal — 1.5%** | **Portugal — 1.5%** | **Portugal — 1.5%** |
| Galp Energia SGPS SA | 706143 | &nbsp;&nbsp;&nbsp; 13389472 |
| Jeronimo Martins SGPS SA | 301131 | &nbsp;&nbsp;&nbsp; 7335839 |
|  |  | &nbsp;&nbsp;&nbsp; 20725311 |
| **South Korea — 1.1%** | **South Korea — 1.1%** | **South Korea — 1.1%** |
| Samsung Electronics Co. Ltd.  | 167459 | &nbsp;&nbsp;&nbsp; 10065354 |
| Samsung Fire & Marine Insurance Co. Ltd.  | 17238 | &nbsp;&nbsp;&nbsp; 5542183 |
|  |  | &nbsp;&nbsp;&nbsp; 15607537 |
| **Spain — 1.6%** | **Spain — 1.6%** | **Spain — 1.6%** |
| Amadeus IT Group SA (b) | 159445 | &nbsp;&nbsp;&nbsp; 12619565 |
| Cellnex Telecom SA (a) (b) | 291187 | &nbsp;&nbsp;&nbsp; 10096204 |
|  |  | &nbsp;&nbsp;&nbsp; 22715769 |
| **Sweden — 1.0%** | **Sweden — 1.0%** | **Sweden — 1.0%** |
| Atlas Copco AB - A Shares | 795979 | &nbsp;&nbsp;&nbsp; 13554059 |
| **Switzerland — 3.3%** | **Switzerland — 3.3%** | **Switzerland — 3.3%** |
| Cie Financiere Richemont SA - Class A | 84088 | &nbsp;&nbsp;&nbsp; 16134712 |
| Sika AG | 35361 | &nbsp;&nbsp;&nbsp; 7924666 |
| UBS Group AG | 535181 | &nbsp;&nbsp;&nbsp; 22000541 |
|  |  | &nbsp;&nbsp;&nbsp; 46059919 |
| **Taiwan — 1.6%** | **Taiwan — 1.6%** | **Taiwan — 1.6%** |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 513468 | &nbsp;&nbsp;&nbsp; 22338093 |
| **Thailand — 0.5%** | **Thailand — 0.5%** | **Thailand — 0.5%** |
| Advanced Info Service PCL | 792100 | &nbsp;&nbsp;&nbsp; 7113134 |
| **United Kingdom — 14.3%** | **United Kingdom — 14.3%** | **United Kingdom — 14.3%** |
| Babcock International Group PLC | 336879 | &nbsp;&nbsp;&nbsp; 6027726 |
| Barclays PLC | 5899677 | &nbsp;&nbsp;&nbsp; 30252350 |
| Beazley PLC | 1700029 | &nbsp;&nbsp;&nbsp; 20797765 |
| British American Tobacco PLC | 434732 | &nbsp;&nbsp;&nbsp; 23069573 |
| Burberry Group PLC (a) | 207456 | &nbsp;&nbsp;&nbsp; 3274208 |
| Convatec Group PLC | 2971176 | &nbsp;&nbsp;&nbsp; 9280439 |
| Croda International PLC | 189991 | &nbsp;&nbsp;&nbsp; 6944320 |
| Hiscox Ltd.  | 748116 | &nbsp;&nbsp;&nbsp; 13789852 |
| London Stock Exchange Group PLC | 104729 | &nbsp;&nbsp;&nbsp; 12026246 |
| National Grid PLC | 1190294 | &nbsp;&nbsp;&nbsp; 17159989 |
| NatWest Group PLC | 3686013 | &nbsp;&nbsp;&nbsp; 25872435 |
| Next PLC | 50141 | &nbsp;&nbsp;&nbsp; 8352284 |
| Spirax Group PLC | 96501 | &nbsp;&nbsp;&nbsp; 8902316 |
| Weir Group PLC | 265139 | &nbsp;&nbsp;&nbsp; 9803060 |
| Whitbread PLC | 145513 | &nbsp;&nbsp;&nbsp; 6334836 |
|  |  | &nbsp;&nbsp;&nbsp; 201887399 |
| **United States — 17.2%** | **United States — 17.2%** | **United States — 17.2%** |
| Aon PLC - Class A | 41033 | &nbsp;&nbsp;&nbsp; 14631547 |
| Cadence Design Systems, Inc. (a) | 40955 | &nbsp;&nbsp;&nbsp; 14385853 |
| CSL Ltd.  | 79753 | &nbsp;&nbsp;&nbsp; 10477344 |
| James Hardie Industries PLC (a) | 391851 | &nbsp;&nbsp;&nbsp; 7291271 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **United States — (Continued)** | **United States — (Continued)** | **United States — (Continued)** |
| Linde PLC | 55222 | &nbsp;&nbsp;&nbsp; $26230450 |
| Mastercard, Inc. - Class A | 30059 | &nbsp;&nbsp;&nbsp; 17097860 |
| Nestle SA | 289339 | &nbsp;&nbsp;&nbsp; 26578155 |
| Qiagen NV (b) | 253308 | &nbsp;&nbsp;&nbsp; 11250413 |
| Roche Holding AG | 110001 | &nbsp;&nbsp;&nbsp; 36204766 |
| Sanofi SA | 161365 | &nbsp;&nbsp;&nbsp; 15252909 |
| Schneider Electric SE | 139014 | &nbsp;&nbsp;&nbsp; 39244419 |
| Spotify Technology SA (a) | 18718 | &nbsp;&nbsp;&nbsp; 13065164 |
| Willis Towers Watson PLC (b) | 31819 | &nbsp;&nbsp;&nbsp; 10991873 |
|  |  | &nbsp;&nbsp;&nbsp; 242702024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,031,451,303) <br>|  | &nbsp;&nbsp;&nbsp; 1379880067 |
| **Warrants—0.0%** | **Warrants—0.0%** | **Warrants—0.0%** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Software, Inc., Expires 03/31/40 (a) <br>(Cost $0)<br>| 9715 | &nbsp;&nbsp;&nbsp; 0 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—2.0%** | **Short-Term Investments—2.0%** | **Short-Term Investments—2.0%** |
| **Repurchase Agreement — 2.0%** | **Repurchase Agreement — 2.0%** | **Repurchase Agreement — 2.0%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25 with a maturity value of $27,416,439; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $27,962,457<br>| 27414154 | &nbsp;&nbsp;&nbsp; 27414154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $27,414,154) <br>|  | &nbsp;&nbsp;&nbsp; 27414154 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—7.3%** | **Securities Lending Reinvestments (c)—7.3%** | **Securities Lending Reinvestments (c)—7.3%** |
| **Short-Term Investment Funds — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class, 4.070% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares, 4.020% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class , 4.040% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares, 3.990% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class, 4.050% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares, 4.050% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 11000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Commercial Paper — 0.1%** | **Commercial Paper — 0.1%** | **Commercial Paper — 0.1%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999518 |
| **Time Deposits — 1.3%** | **Time Deposits — 1.3%** | **Time Deposits — 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA <br>4.090%, 10/01/25<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |

---

**BHFTI-227**

------

**Brighthouse Funds Trust I**

**MFS**<sup>®</sup> **Research International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits — (Continued)** | **Time Deposits — (Continued)** | **Time Deposits — (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank <br>4.060%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; DNB Bank ASA <br>4.040%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; DZ Bank AG (NY) <br>4.080%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp <br>4.060%, 10/01/25<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska (NY) <br>4.060%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska (NY) <br>4.060%, 10/01/25<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 18000000 |
| **Repurchase Agreements — 5.1%** | **Repurchase Agreements — 5.1%** | **Repurchase Agreements — 5.1%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 5.000%, maturity dates ranging from 11/30/25 - 02/15/52, <br> and an aggregate market value of $2,040,000<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $5,000,583; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,561,679<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $14,001,641; <br> collateralized by various Common Stock with an aggregate <br> market value of $15,572,701<br>| 14000000 | &nbsp;&nbsp;&nbsp; 14000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $3,000,356; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,337,007<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $7,000,813; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $7,140,003<br>| 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $10,001,153; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 4.625%, maturity dates ranging from <br> 10/28/25 - 05/15/35, and an aggregate market value of <br> $10,200,001<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $16,143,806; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $16,464,766<br>| 16141928 | &nbsp;&nbsp;&nbsp; 16141928 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $7,000,833; collateralized <br> by various Common Stock with an aggregate market value of <br> $7,805,660<br>| 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $2,700,307; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $2,754,000<br>| 2700000 | &nbsp;&nbsp;&nbsp; $2700000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $5,000,582; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,500,640<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
|  |  | &nbsp;&nbsp;&nbsp; 71841928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $102,841,699) <br>|  | &nbsp;&nbsp;&nbsp; 102841446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—107.0% <br>(Cost $1,161,707,156) <br>|  | &nbsp;&nbsp;&nbsp; 1510135667 |
| Other assets and liabilities (net)—(7.0)%  |  | &nbsp;&nbsp;&nbsp; (98270037)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1411865630 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $108,091,297 and the collateral received consisted of cash in the amount of $102,840,322 and non-cash collateral with a value of $17,527,920. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(d) The rate shown represents the annualized seven-day yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Ten Largest Industries as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Banks | 13.1 |
| Pharmaceuticals | 6.9 |
| Insurance | 6.1 |
| Electrical Equipment | 5.7 |
| Chemicals | 5.4 |
| Capital Markets | 4.8 |
| Machinery | 4.7 |
| Semiconductors & Semiconductor Equipment | 4.3 |
| Oil, Gas & Consumable Fuels | 3.9 |
| Aerospace & Defense | 3.0 |

---

**BHFTI-228**

------

**Brighthouse Funds Trust I**

**MFS**<sup>®</sup> **Research International Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $27288311 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $27288311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8740519 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8740519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp; 20484953 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20484953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp; 31294038 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31294038 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3221228 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3221228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25723128 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25723128 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 119206419 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 119206419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 70278342 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 70278342 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greece | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2306401 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2306401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26696686 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26696686 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21346298 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21346298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23855388 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23855388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp; 9277975 | &nbsp;&nbsp;&nbsp; 21856087 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31134062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; 185790 | &nbsp;&nbsp;&nbsp; 271527315 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 271713105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macau | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3724355 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3724355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 100163589 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 100163589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20725311 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20725311 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15607537 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15607537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22715769 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22715769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13554059 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13554059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 46059919 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 46059919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22338093 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22338093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp;&nbsp; 7113134 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7113134 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 201887399 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 201887399 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; 96402747 | &nbsp;&nbsp;&nbsp; 146299277 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 242702024 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 164758637 | &nbsp;&nbsp;&nbsp; 1215121430 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1379880067 |
| Total Warrants\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27414154 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27414154 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1999518 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1999518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 71841928 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 71841928 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp; 91841446 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 102841446 |
| Total Investments | &nbsp;&nbsp;&nbsp; $175758637 | &nbsp;&nbsp;&nbsp; $1334377030 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1510135667 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(102840322)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(102840322)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-229**

------

**Brighthouse Funds Trust I**

**Morgan Stanley Discovery Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—93.8% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| Celsius Holdings, Inc. (a) | 173563 | &nbsp;&nbsp;&nbsp; $9978137 |
| **Biotechnology — 4.1%** | **Biotechnology — 4.1%** | **Biotechnology — 4.1%** |
| Alnylam Pharmaceuticals, Inc. (a) (b) | 10866 | &nbsp;&nbsp;&nbsp; 4954896 |
| Argenx SE (ADR) (a) | 5843 | &nbsp;&nbsp;&nbsp; 4309563 |
| ProKidney Corp. (a) (b) | 849350 | &nbsp;&nbsp;&nbsp; 2055427 |
| Roivant Sciences Ltd. (a) (b) | 3122886 | &nbsp;&nbsp;&nbsp; 47249265 |
|  |  | &nbsp;&nbsp;&nbsp; 58569151 |
| **Broadline Retail — 1.5%** | **Broadline Retail — 1.5%** | **Broadline Retail — 1.5%** |
| Global-e Online Ltd. (a) (b) | 597157 | &nbsp;&nbsp;&nbsp; 21354334 |
| **Capital Markets — 2.3%** | **Capital Markets — 2.3%** | **Capital Markets — 2.3%** |
| Coinbase Global, Inc. - Class A (a) | 99267 | &nbsp;&nbsp;&nbsp; 33501620 |
| **Entertainment — 7.5%** | **Entertainment — 7.5%** | **Entertainment — 7.5%** |
| ROBLOX Corp. - Class A (a) | 775238 | &nbsp;&nbsp;&nbsp; 107385968 |
| **Financial Services — 9.0%** | **Financial Services — 9.0%** | **Financial Services — 9.0%** |
| Affirm Holdings, Inc. (a) (b) | 1276793 | &nbsp;&nbsp;&nbsp; 93308032 |
| Federal National Mortgage Association (a) (b) | 3005474 | &nbsp;&nbsp;&nbsp; 36215962 |
|  |  | &nbsp;&nbsp;&nbsp; 129523994 |
| **Health Care Providers & Services — 1.1%** | **Health Care Providers & Services — 1.1%** | **Health Care Providers & Services — 1.1%** |
| agilon health, Inc. (a) (b) | 8222166 | &nbsp;&nbsp;&nbsp; 8468831 |
| HealthEquity, Inc. (a) | 79756 | &nbsp;&nbsp;&nbsp; 7558476 |
|  |  | &nbsp;&nbsp;&nbsp; 16027307 |
| **IT Services — 16.7%** | **IT Services — 16.7%** | **IT Services — 16.7%** |
| Cloudflare, Inc. - Class A (a) (b) | 875081 | &nbsp;&nbsp;&nbsp; 187783632 |
| MongoDB, Inc. (a) | 169648 | &nbsp;&nbsp;&nbsp; 52655346 |
|  |  | &nbsp;&nbsp;&nbsp; 240438978 |
| **Machinery — 1.0%** | **Machinery — 1.0%** | **Machinery — 1.0%** |
| Symbotic, Inc. (a) (b) | 267081 | &nbsp;&nbsp;&nbsp; 14395666 |
| **Media — 2.7%** | **Media — 2.7%** | **Media — 2.7%** |
| Trade Desk, Inc. - Class A (a) | 803612 | &nbsp;&nbsp;&nbsp; 39385024 |
| **Metals & Mining — 0.5%** | **Metals & Mining — 0.5%** | **Metals & Mining — 0.5%** |
| MP Materials Corp. (a) | 114030 | &nbsp;&nbsp;&nbsp; 7647992 |
| **Personal Care Products — 3.7%** | **Personal Care Products — 3.7%** | **Personal Care Products — 3.7%** |
| Oddity Tech Ltd. - Class A (a) (b) | 854285 | &nbsp;&nbsp;&nbsp; 53221956 |
| **Pharmaceuticals — 4.6%** | **Pharmaceuticals — 4.6%** | **Pharmaceuticals — 4.6%** |
| Royalty Pharma PLC - Class A (b) | 1872466 | &nbsp;&nbsp;&nbsp; 66060600 |
| **Real Estate Management & Development — 2.4%** | **Real Estate Management & Development — 2.4%** | **Real Estate Management & Development — 2.4%** |
| Landbridge Co. LLC - Class A (b) | 518982 | &nbsp;&nbsp;&nbsp; 27687690 |
| Opendoor Technologies, Inc. (a) (b) | 838263 | &nbsp;&nbsp;&nbsp; 6680956 |
|  |  | &nbsp;&nbsp;&nbsp; 34368646 |
| **Software — 12.9%** | **Software — 12.9%** | **Software — 12.9%** |
| Aurora Innovation, Inc. (a) (b) | 10011329 | &nbsp;&nbsp;&nbsp; 53961063 |
| BitMine Immersion Technologies, Inc. (a) (b) | 539853 | &nbsp;&nbsp;&nbsp; 28034566 |
| Circle Internet Group, Inc. (a) (b) | 28288 | &nbsp;&nbsp;&nbsp; 3750423 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Figma, Inc. - Class A (a) (b) | 513634 | &nbsp;&nbsp;&nbsp; $26642196 |
| Samsara, Inc. - Class A (a) (b) | 569385 | &nbsp;&nbsp;&nbsp; 21209591 |
| Strategy, Inc. - Class A (a) (b) | 158145 | &nbsp;&nbsp;&nbsp; 50955901 |
|  |  | &nbsp;&nbsp;&nbsp; 184553740 |
| **Specialty Retail — 5.8%** | **Specialty Retail — 5.8%** | **Specialty Retail — 5.8%** |
| Carvana Co. (a) | 97502 | &nbsp;&nbsp;&nbsp; 36781655 |
| Floor & Decor Holdings, Inc. - Class A (a) (b) | 628183 | &nbsp;&nbsp;&nbsp; 46297087 |
|  |  | &nbsp;&nbsp;&nbsp; 83078742 |
| **Technology Hardware, Storage & Peripherals — 7.4%** | **Technology Hardware, Storage & Peripherals — 7.4%** | **Technology Hardware, Storage & Peripherals — 7.4%** |
| IonQ, Inc. (a) (b) | 1734722 | &nbsp;&nbsp;&nbsp; 106685403 |
| **Trading Companies & Distributors — 9.9%** | **Trading Companies & Distributors — 9.9%** | **Trading Companies & Distributors — 9.9%** |
| Core & Main, Inc. - Class A (a) (b) | 1084565 | &nbsp;&nbsp;&nbsp; 58382134 |
| QXO, Inc. (a) (b) | 4358695 | &nbsp;&nbsp;&nbsp; 83076727 |
|  |  | &nbsp;&nbsp;&nbsp; 141458861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,024,566,279) <br>|  | &nbsp;&nbsp;&nbsp; 1347636119 |
| **Convertible Preferred Stocks—3.3%** | **Convertible Preferred Stocks—3.3%** | **Convertible Preferred Stocks—3.3%** |
| **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** |
| Databricks, Inc. - Series H † (a) (c) (d) | 229833 | &nbsp;&nbsp;&nbsp; 34474950 |
| Databricks, Inc. - Series I † (a) (c) (d) | 83793 | &nbsp;&nbsp;&nbsp; 12568950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Cost $23,047,864) <br>|  | &nbsp;&nbsp;&nbsp; 47043900 |
| **Escrow Shares—0.0%** | **Escrow Shares—0.0%** | **Escrow Shares—0.0%** |
| **Broadline Retail — 0.0%** | **Broadline Retail — 0.0%** | **Broadline Retail — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Flipkart Ltd. † (a) (c) (d) <br>(Cost $0)<br>| 60812 | &nbsp;&nbsp;&nbsp; 12466 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—3.6%** | **Short-Term Investments—3.6%** | **Short-Term Investments—3.6%** |
| **Repurchase Agreement—3.6%** | **Repurchase Agreement—3.6%** | **Repurchase Agreement—3.6%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $50,981,066; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $51,996,397<br>| 50976818 | &nbsp;&nbsp;&nbsp; 50976818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $50,976,818) <br>|  | &nbsp;&nbsp;&nbsp; 50976818 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—13.9%** | **Securities Lending Reinvestments (e)—13.9%** | **Securities Lending Reinvestments (e)—13.9%** |
| **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

**BHFTI-230**

------

**Brighthouse Funds Trust I**

**Morgan Stanley Discovery Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** | **Short-Term Investment Funds—(Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 3000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.2%** | **Certificates of Deposit—1.2%** | **Certificates of Deposit—1.2%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 08/07/26 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 2000504 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 10/01/25 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 999999 |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 1000967 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, SOFR + 0.240%, 01/13/26 (g) | 3000000 | &nbsp;&nbsp;&nbsp; 3000255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 11/13/25 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 2000266 |
| Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 12/08/25 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 1999994 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 1000055 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.230%, 01/30/26 (g) | 1000000 | &nbsp;&nbsp;&nbsp; 1000101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/14/25 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 2000134 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000240 |
|  |  | &nbsp;&nbsp;&nbsp; 17002515 |
| **Commercial Paper—0.8%** | **Commercial Paper—0.8%** | **Commercial Paper—0.8%** |
| Chesham Finance Ltd./Chesham Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/03/25 | 3000000 | &nbsp;&nbsp;&nbsp; 2998959 |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 5000000 | &nbsp;&nbsp;&nbsp; 4998795 |
| Salisbury Receivables Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 12/11/25 | 1000000 | &nbsp;&nbsp;&nbsp; 991606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.180%, 12/08/25 | 1000000 | &nbsp;&nbsp;&nbsp; 991950 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.530%, SOFR + 0.400%, 04/10/26 (g) | 2000000 | &nbsp;&nbsp;&nbsp; 2001684 |
|  |  | &nbsp;&nbsp;&nbsp; 11982994 |
| **Repurchase Agreements—9.9%** | **Repurchase Agreements—9.9%** | **Repurchase Agreements—9.9%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $10,001,167; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,123,358<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $5,000,586; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,561,679<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $22,652,687; <br> collateralized by various Common Stock with an aggregate <br> market value of $25,194,405<br>| 22650000 | &nbsp;&nbsp;&nbsp; 22650000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,517,312; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $1,671,022<br>| 1500000 | &nbsp;&nbsp;&nbsp; $1500000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $15,001,742; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $15,300,007<br>| 15000000 | &nbsp;&nbsp;&nbsp; 15000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $5,119,589; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,500,001<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $4,600,530; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $4,692,001<br>| 4600000 | &nbsp;&nbsp;&nbsp; 4600000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $6,701,857; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $6,835,099<br>| 6701077 | &nbsp;&nbsp;&nbsp; 6701077 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $13,801,641; <br> collateralized by various Common Stock with an aggregate <br> market value of $15,388,300<br>| 13800000 | &nbsp;&nbsp;&nbsp; 13800000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $17,014,214; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $18,907,194<br>| 17000000 | &nbsp;&nbsp;&nbsp; 17000000 |
| NBC Global Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.330%, due on <br> 10/07/25 with a maturity value of $19,015,997; <br> collateralized by various Common Stock with an aggregate <br> market value of $21,187,644<br>| 19000000 | &nbsp;&nbsp;&nbsp; 19000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $6,025,434; collateralized <br> by various Common Stock with an aggregate market value of <br> $6,667,474<br>| 6000000 | &nbsp;&nbsp;&nbsp; 6000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $4,900,557; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $4,998,001<br>| 4900000 | &nbsp;&nbsp;&nbsp; 4900000 |

---

**BHFTI-231**

------

**Brighthouse Funds Trust I**

**Morgan Stanley Discovery Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $4,000,473; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,449,768<br>| 4000000 | &nbsp;&nbsp;&nbsp; $4000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $7,000,815; collateralized <br> by various Common Stock with an aggregate market value of <br> $7,700,908<br>| 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |
|  |  | &nbsp;&nbsp;&nbsp; 142151077 |
| **Time Deposits—1.8%** | **Time Deposits—1.8%** | **Time Deposits—1.8%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
|  |  | &nbsp;&nbsp;&nbsp; 25000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $199,133,754) <br>|  | &nbsp;&nbsp;&nbsp; 199136586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Purchased Options—0.0% (h) <br>(Cost $7,680,987) <br>|  | &nbsp;&nbsp;&nbsp; 583211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—114.6% <br>(Cost $1,305,405,702) <br>|  | &nbsp;&nbsp;&nbsp; 1645389100 |
| Other assets and liabilities (net)—(14.6)%  |  | &nbsp;&nbsp;&nbsp; (209320279)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1436068821 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Principal amount stated in U.S. dollars unless otherwise noted. |
| † | Restricted securities are not registered under the Securities Act of 1933 and are subject to legal  |

---

---

| | |
|:---|:---|
|  | restrictions on resale. These securities generally may be resold in transactions exempt from <br> registration or to the public if the securities are subsequently registered. Disposal of these <br> securities may involve time-consuming negotiations and prompt sale at an acceptable price may <br> be difficult. As of September 30, 2025, the market value of restricted securities was <br> $47,056,366, which is 3.3% of net assets. See details shown in the Restricted Securities table that <br> follows.<br>|
| (a) | Non-income producing security. |
| (b) | All or a portion of the security was held on loan. As of September 30, 2025, the market value of <br> securities loaned was $282,432,268 and the collateral received consisted of cash in the amount <br> of $199,125,588 and non-cash collateral with a value of $94,924,309. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (c) | Security was valued in good faith under procedures subject to oversight by the Board of Trustees. <br> As of September 30, 2025, these securities represent 3.3% of net assets.<br>|
| (d) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |
| (e) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (f) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (g) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For securities <br> based on a published reference index and spread, the index and spread are indicated in the <br> description above. For certain variable rate securities, the coupon rate is determined by the <br> issuer/agent based on current market conditions. For certain asset- and mortgage-backed <br> securities, the coupon rate may fluctuate based on changes of the underlying collateral or <br> prepayments of principal. These securities do not indicate a reference index and spread in their <br> description above.<br>|
| (h) | For a breakout of open positions, see details shown in the Purchased Options table that follows. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Shares** | **Cost** | **Value** |
| Databricks, Inc. - Series H | 08/31/21 | &nbsp;&nbsp; 229833 | &nbsp;&nbsp; $16889079 | &nbsp;&nbsp; $34474950 |
| Databricks, Inc. - Series I | 09/14/23 | &nbsp;&nbsp; 83793 | &nbsp;&nbsp; 6158785 | &nbsp;&nbsp; 12568950 |
| Flipkart Ltd. | 08/20/18 | &nbsp;&nbsp; 60812 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 12466 |
|  |  |  |  | &nbsp;&nbsp; $47056366 |

---

**BHFTI-232**

------

**Brighthouse Funds Trust I**

**Morgan Stanley Discovery Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investments in Derivative Instruments**

**Purchased Options** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Options** | **Strike** <br>**Price** | **Expiration** <br>**Date**<br>| **Counterparty** | **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Paid**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| USD Call/CNH Put<br> CNH | 7.580 | 08/11/26 | SCB | 439620734 | USD | 439620734 | $1438407 | $469515 | $(968892)<br>|
| USD Call/CNH Put<br> CNH | 7.710 | 05/13/26 | GSI | 323673593 | USD | 323673593 | 1347326 | 67324 | (1280002)<br>|
| USD Call/CNH Put<br> CNH | 7.765 | 10/16/25 | SCB | 272541046 | USD | 272541046 | 1186099 | 273 | (1185826)<br>|
| USD Call/CNH Put<br> CNH | 7.820 | 02/25/26 | JPMC | 310359994 | USD | 310359994 | 1281475 | 23277 | (1258198)<br>|
| USD Call/CNH Put<br> CNH | 7.900 | 04/01/26 | SCB | 208557842 | USD | 208557842 | 1013387 | 22524 | (990863)<br>|
| USD Call/CNH Put<br> CNH | 8.023 | 12/02/25 | GSI | 298350898 | USD | 298350898 | 1414293 | 298 | (1413995)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | $7680987 | $583211 | $(7097776)<br>|

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $1347636119 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1347636119 |
| Total Convertible Preferred Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47043900 | &nbsp;&nbsp;&nbsp; 47043900 |
| Total Escrow Shares\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12466 | &nbsp;&nbsp;&nbsp; 12466 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 50976818 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 50976818 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17002515 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17002515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11982994 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11982994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 142151077 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 142151077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 196136586 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 199136586 |
| Total Purchased Options at Value\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 583211 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 583211 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1350636119 | &nbsp;&nbsp;&nbsp; $247696615 | &nbsp;&nbsp;&nbsp; $47056366 | &nbsp;&nbsp;&nbsp; $1645389100 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(199125588)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(199125588)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities** | **Balance as of** <br>**December 31, 2024**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Balance as of** <br>**September 30, 2025**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**from Investments** <br>**Held at** <br>**September 30, 2025**<br>|
| Convertible Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp; $29010405<br>| &nbsp;&nbsp; $18033495 | &nbsp;&nbsp; $47043900 | &nbsp;&nbsp; $18033495 |
| Escrow Shares |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp; 12466<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 12466<br>| &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $29022871<br>| &nbsp;&nbsp; $18033495 | &nbsp;&nbsp; $47056366 | &nbsp;&nbsp; $18033495 |

---

**BHFTI-233**

------

**Brighthouse Funds Trust I**

**Morgan Stanley Discovery Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fair Value at** <br>**September 30,** <br>**2025**<br>| **Valuation Technique(s)** | **Unobservable Input** | **Range** | **Weighted** <br>**Average**<br>| **Relationship** <br>**Between Fair** <br>**Value and** <br>**Input; if input** <br>**value increases** <br>**then Fair Value:**<br>|
| Convertible Preferred Stocks |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp; $47043900<br>| Market Transaction Method | Precedent Transaction | &nbsp;&nbsp; $150.00 | &nbsp;&nbsp; $150.00<br>| &nbsp;&nbsp; Increase |
| Escrow Shares |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp; 12466 | Liquidation Value | Estimated Distribution Per Share | &nbsp;&nbsp; $0.84 | &nbsp;&nbsp; $0.84 | &nbsp;&nbsp; Increase |
|  |  |  | Discount for Lack of Certainty | 75.00<br> %<br>| 75.00<br> %<br>| &nbsp;&nbsp; Decrease |

---

**BHFTI-234**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**U.S. Treasury & Government Agencies—11.8% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **U.S. Treasury — 11.8%** | **U.S. Treasury — 11.8%** | **U.S. Treasury — 11.8%** |
| U.S. Treasury Inflation-Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 02/15/50 (a) | 1256470 | &nbsp;&nbsp;&nbsp; $742476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 02/15/49 (a) | 2567460 | &nbsp;&nbsp;&nbsp; 1893006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/15/53 (a) | 7063680 | &nbsp;&nbsp;&nbsp; 5650808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 02/15/40 (a) | 4035285 | &nbsp;&nbsp;&nbsp; 4064478 |
| U.S. Treasury Inflation-Indexed Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 10/15/25 (a) | 4170649 | &nbsp;&nbsp;&nbsp; 4167554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 04/15/26 (a) | 3202602 | &nbsp;&nbsp;&nbsp; 3185682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 01/15/30 (a) | 7533300 | &nbsp;&nbsp;&nbsp; 7191364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 07/15/30 (a) | 15119040 | &nbsp;&nbsp;&nbsp; 14374014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 01/15/31 (a) | 12409200 | &nbsp;&nbsp;&nbsp; 11651364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 07/15/31 (a) | 9642000 | &nbsp;&nbsp;&nbsp; 9003493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 07/15/27 (a) | 2997649 | &nbsp;&nbsp;&nbsp; 2977272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 01/15/28 (a) | 7451567 | &nbsp;&nbsp;&nbsp; 7364949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 01/15/29 (a) | 5424317 | &nbsp;&nbsp;&nbsp; 5382745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 01/15/33 (a) | 14097850 | &nbsp;&nbsp;&nbsp; 13662947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 04/15/28 (a) | 3230850 | &nbsp;&nbsp;&nbsp; 3243186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 07/15/33 (a) | 8509040 | &nbsp;&nbsp;&nbsp; 8377475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/29 (a) | 9239580 | &nbsp;&nbsp;&nbsp; 9422335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/15/34 (a) | 13661440 | &nbsp;&nbsp;&nbsp; 13725049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 07/15/34 (a) | 9265230 | &nbsp;&nbsp;&nbsp; 9399685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 04/15/29 (a) | 13576810 | &nbsp;&nbsp;&nbsp; 14013773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $149,346,257) <br>|  | &nbsp;&nbsp;&nbsp; 149493655 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks—9.4%** | **Common Stocks—9.4%** | **Common Stocks—9.4%** |
| **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** |
| Elbit Systems Ltd.  | 343 | &nbsp;&nbsp;&nbsp; 173789 |
| General Dynamics Corp.  | 4909 | &nbsp;&nbsp;&nbsp; 1673969 |
| Singapore Technologies Engineering Ltd.  | 37800 | &nbsp;&nbsp;&nbsp; 252664 |
|  |  | &nbsp;&nbsp;&nbsp; 2100422 |
| **Automobile Components — 0.1%** | **Automobile Components — 0.1%** | **Automobile Components — 0.1%** |
| Bridgestone Corp.  | 8700 | &nbsp;&nbsp;&nbsp; 402281 |
| Cie Generale des Etablissements Michelin SCA | 9668 | &nbsp;&nbsp;&nbsp; 347268 |
|  |  | &nbsp;&nbsp;&nbsp; 749549 |
| **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** |
| ANZ Group Holdings Ltd.  | 6452 | &nbsp;&nbsp;&nbsp; 141474 |
| Banco Bilbao Vizcaya Argentaria SA | 13008 | &nbsp;&nbsp;&nbsp; 250254 |
| Bank Leumi Le-Israel BM | 53555 | &nbsp;&nbsp;&nbsp; 1056056 |
| Bank of Montreal | 1513 | &nbsp;&nbsp;&nbsp; 197156 |
| Bank of Nova Scotia | 2515 | &nbsp;&nbsp;&nbsp; 162625 |
| BOC Hong Kong Holdings Ltd.  | 69500 | &nbsp;&nbsp;&nbsp; 326720 |
| Canadian Imperial Bank of Commerce | 1961 | &nbsp;&nbsp;&nbsp; 156702 |
| Commerzbank AG | 36243 | &nbsp;&nbsp;&nbsp; 1365124 |
| DBS Group Holdings Ltd.  | 5800 | &nbsp;&nbsp;&nbsp; 229709 |
| Erste Group Bank AG | 6022 | &nbsp;&nbsp;&nbsp; 588684 |
| Hang Seng Bank Ltd.  | 17200 | &nbsp;&nbsp;&nbsp; 262076 |
| HSBC Holdings PLC | 39680 | &nbsp;&nbsp;&nbsp; 560074 |
| ING Groep NV | 7750 | &nbsp;&nbsp;&nbsp; 201973 |
| Intesa Sanpaolo SpA | 73355 | &nbsp;&nbsp;&nbsp; 485105 |
| Israel Discount Bank Ltd. - Class A | 28682 | &nbsp;&nbsp;&nbsp; 283627 |
| Japan Post Bank Co. Ltd.  | 10500 | &nbsp;&nbsp;&nbsp; 128673 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| KBC Group NV | 6702 | &nbsp;&nbsp;&nbsp; $803293 |
| Mediobanca Banca di Credito Finanziario SpA | 63929 | &nbsp;&nbsp;&nbsp; 1294228 |
| NatWest Group PLC | 208073 | &nbsp;&nbsp;&nbsp; 1460482 |
| Oversea-Chinese Banking Corp. Ltd.  | 22000 | &nbsp;&nbsp;&nbsp; 280558 |
| Standard Chartered PLC | 46919 | &nbsp;&nbsp;&nbsp; 909267 |
| UniCredit SpA | 17414 | &nbsp;&nbsp;&nbsp; 1322136 |
| Westpac Banking Corp.  | 7479 | &nbsp;&nbsp;&nbsp; 192419 |
|  |  | &nbsp;&nbsp;&nbsp; 12658415 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Coca-Cola Co.  | 3739 | &nbsp;&nbsp;&nbsp; 247971 |
| Coca-Cola Europacific Partners PLC | 2047 | &nbsp;&nbsp;&nbsp; 185069 |
| Coca-Cola HBC AG | 2276 | &nbsp;&nbsp;&nbsp; 107367 |
| Keurig Dr. Pepper, Inc.  | 9332 | &nbsp;&nbsp;&nbsp; 238060 |
| PepsiCo, Inc.  | 571 | &nbsp;&nbsp;&nbsp; 80191 |
|  |  | &nbsp;&nbsp;&nbsp; 858658 |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| Moderna, Inc. (b) | 11187 | &nbsp;&nbsp;&nbsp; 288960 |
| **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** |
| Dollarama, Inc.  | 3522 | &nbsp;&nbsp;&nbsp; 464488 |
| Next PLC | 3354 | &nbsp;&nbsp;&nbsp; 558696 |
|  |  | &nbsp;&nbsp;&nbsp; 1023184 |
| **Building Products — 0.2%** | **Building Products — 0.2%** | **Building Products — 0.2%** |
| Assa Abloy AB - Class B | 3464 | &nbsp;&nbsp;&nbsp; 121542 |
| Cie de Saint-Gobain SA | 10438 | &nbsp;&nbsp;&nbsp; 1137123 |
| Geberit AG | 932 | &nbsp;&nbsp;&nbsp; 704399 |
|  |  | &nbsp;&nbsp;&nbsp; 1963064 |
| **Capital Markets — 0.0%** | **Capital Markets — 0.0%** | **Capital Markets — 0.0%** |
| 3i Group PLC | 2001 | &nbsp;&nbsp;&nbsp; 110328 |
| FactSet Research Systems, Inc.  | 228 | &nbsp;&nbsp;&nbsp; 65320 |
| Singapore Exchange Ltd.  | 22000 | &nbsp;&nbsp;&nbsp; 282233 |
|  |  | &nbsp;&nbsp;&nbsp; 457881 |
| **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
| Air Liquide SA | 1470 | &nbsp;&nbsp;&nbsp; 305924 |
| BASF SE | 4536 | &nbsp;&nbsp;&nbsp; 226092 |
| Ecolab, Inc.  | 885 | &nbsp;&nbsp;&nbsp; 242366 |
| EMS-Chemie Holding AG | 219 | &nbsp;&nbsp;&nbsp; 155462 |
| Linde PLC | 2797 | &nbsp;&nbsp;&nbsp; 1328575 |
| Sika AG | 880 | &nbsp;&nbsp;&nbsp; 197214 |
|  |  | &nbsp;&nbsp;&nbsp; 2455633 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| Brambles Ltd.  | 63523 | &nbsp;&nbsp;&nbsp; 1047460 |
| Republic Services, Inc.  | 5194 | &nbsp;&nbsp;&nbsp; 1191919 |
| Secom Co. Ltd.  | 3000 | &nbsp;&nbsp;&nbsp; 109989 |
|  |  | &nbsp;&nbsp;&nbsp; 2349368 |
| **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** |
| Cisco Systems, Inc.  | 6735 | &nbsp;&nbsp;&nbsp; 460809 |

---

**BHFTI-235**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Communications Equipment—(Continued)** | **Communications Equipment—(Continued)** | **Communications Equipment—(Continued)** |
| Telefonaktiebolaget LM Ericsson - B Shares | 92035 | &nbsp;&nbsp;&nbsp; $763428 |
|  |  | &nbsp;&nbsp;&nbsp; 1224237 |
| **Construction & Engineering — 0.0%** | **Construction & Engineering — 0.0%** | **Construction & Engineering — 0.0%** |
| Kajima Corp.  | 4100 | &nbsp;&nbsp;&nbsp; 119492 |
| **Construction Materials — 0.2%** | **Construction Materials — 0.2%** | **Construction Materials — 0.2%** |
| Amrize Ltd. (b) | 2635 | &nbsp;&nbsp;&nbsp; 127694 |
| Heidelberg Materials AG | 5691 | &nbsp;&nbsp;&nbsp; 1281211 |
| Holcim AG | 12899 | &nbsp;&nbsp;&nbsp; 1097797 |
|  |  | &nbsp;&nbsp;&nbsp; 2506702 |
| **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** |
| Carrefour SA | 9238 | &nbsp;&nbsp;&nbsp; 139877 |
| Empire Co. Ltd. - Class A | 5451 | &nbsp;&nbsp;&nbsp; 195644 |
| George Weston Ltd.  | 3762 | &nbsp;&nbsp;&nbsp; 229472 |
| Koninklijke Ahold Delhaize NV | 10761 | &nbsp;&nbsp;&nbsp; 435348 |
| Metro, Inc.  | 3843 | &nbsp;&nbsp;&nbsp; 258105 |
| Tesco PLC | 156348 | &nbsp;&nbsp;&nbsp; 937190 |
|  |  | &nbsp;&nbsp;&nbsp; 2195636 |
| **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** |
| Amcor PLC | 148519 | &nbsp;&nbsp;&nbsp; 1214885 |
| Avery Dennison Corp.  | 599 | &nbsp;&nbsp;&nbsp; 97140 |
| CCL Industries, Inc. - Class B | 3076 | &nbsp;&nbsp;&nbsp; 173372 |
| Packaging Corp. of America | 6964 | &nbsp;&nbsp;&nbsp; 1517665 |
|  |  | &nbsp;&nbsp;&nbsp; 3003062 |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| Pearson PLC | 9678 | &nbsp;&nbsp;&nbsp; 137548 |
| **Diversified Telecommunication Services — 0.4%** | **Diversified Telecommunication Services — 0.4%** | **Diversified Telecommunication Services — 0.4%** |
| AT&T, Inc.  | 52085 | &nbsp;&nbsp;&nbsp; 1470880 |
| Deutsche Telekom AG | 7584 | &nbsp;&nbsp;&nbsp; 258391 |
| Elisa OYJ | 5665 | &nbsp;&nbsp;&nbsp; 297246 |
| Koninklijke KPN NV | 21041 | &nbsp;&nbsp;&nbsp; 101028 |
| Orange SA | 23444 | &nbsp;&nbsp;&nbsp; 380328 |
| Singapore Telecommunications Ltd.  | 62300 | &nbsp;&nbsp;&nbsp; 199309 |
| Swisscom AG | 655 | &nbsp;&nbsp;&nbsp; 475507 |
| Telia Co. AB | 65898 | &nbsp;&nbsp;&nbsp; 251604 |
| Verizon Communications, Inc.  | 40469 | &nbsp;&nbsp;&nbsp; 1778613 |
|  |  | &nbsp;&nbsp;&nbsp; 5212906 |
| **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** |
| Alliant Energy Corp.  | 24630 | &nbsp;&nbsp;&nbsp; 1660308 |
| BKW AG | 1292 | &nbsp;&nbsp;&nbsp; 275805 |
| CLP Holdings Ltd.  | 28500 | &nbsp;&nbsp;&nbsp; 236219 |
| Fortis, Inc.  | 6952 | &nbsp;&nbsp;&nbsp; 352620 |
| Fortum OYJ | 15341 | &nbsp;&nbsp;&nbsp; 289978 |
| Hydro One Ltd.  | 8144 | &nbsp;&nbsp;&nbsp; 290544 |
| Pinnacle West Capital Corp.  | 1227 | &nbsp;&nbsp;&nbsp; 110013 |
|  |  | &nbsp;&nbsp;&nbsp; 3215487 |
| **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** |
| ABB Ltd.  | 9946 | &nbsp;&nbsp;&nbsp; 716845 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Electrical Equipment—(Continued)** | **Electrical Equipment—(Continued)** | **Electrical Equipment—(Continued)** |
| AMETEK, Inc.  | 3139 | &nbsp;&nbsp;&nbsp; $590132 |
| Legrand SA | 946 | &nbsp;&nbsp;&nbsp; 157804 |
| Prysmian SpA | 958 | &nbsp;&nbsp;&nbsp; 95689 |
|  |  | &nbsp;&nbsp;&nbsp; 1560470 |
| **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** |
| Kyocera Corp.  | 51300 | &nbsp;&nbsp;&nbsp; 696990 |
| TE Connectivity PLC | 2854 | &nbsp;&nbsp;&nbsp; 626539 |
| Teledyne Technologies, Inc. (b) | 2026 | &nbsp;&nbsp;&nbsp; 1187317 |
| Yokogawa Electric Corp.  | 6100 | &nbsp;&nbsp;&nbsp; 175084 |
|  |  | &nbsp;&nbsp;&nbsp; 2685930 |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| Berkshire Hathaway, Inc. - Class B (b) | 228 | &nbsp;&nbsp;&nbsp; 114625 |
| **Food Products — 0.4%** | **Food Products — 0.4%** | **Food Products — 0.4%** |
| Campbell's Co.  | 11045 | &nbsp;&nbsp;&nbsp; 348801 |
| Conagra Brands, Inc.  | 23459 | &nbsp;&nbsp;&nbsp; 429534 |
| Danone SA | 1522 | &nbsp;&nbsp;&nbsp; 132603 |
| General Mills, Inc.  | 12729 | &nbsp;&nbsp;&nbsp; 641796 |
| Hershey Co.  | 2283 | &nbsp;&nbsp;&nbsp; 427035 |
| Hormel Foods Corp.  | 23716 | &nbsp;&nbsp;&nbsp; 586734 |
| J.M. Smucker Co.  | 2940 | &nbsp;&nbsp;&nbsp; 319284 |
| Kellanova | 4909 | &nbsp;&nbsp;&nbsp; 402636 |
| Kraft Heinz Co.  | 4053 | &nbsp;&nbsp;&nbsp; 105540 |
| McCormick & Co., Inc.  | 9561 | &nbsp;&nbsp;&nbsp; 639727 |
| Mondelez International, Inc. - Class A | 8276 | &nbsp;&nbsp;&nbsp; 517002 |
| Nestle SA | 2272 | &nbsp;&nbsp;&nbsp; 208702 |
| Saputo, Inc.  | 3743 | &nbsp;&nbsp;&nbsp; 90906 |
| Tyson Foods, Inc. - Class A | 8733 | &nbsp;&nbsp;&nbsp; 474202 |
| WH Group Ltd.  | 141000 | &nbsp;&nbsp;&nbsp; 153256 |
| Wilmar International Ltd.  | 96100 | &nbsp;&nbsp;&nbsp; 212636 |
|  |  | &nbsp;&nbsp;&nbsp; 5690394 |
| **Gas Utilities — 0.0%** | **Gas Utilities — 0.0%** | **Gas Utilities — 0.0%** |
| AltaGas Ltd.  | 2502 | &nbsp;&nbsp;&nbsp; 77090 |
| Hong Kong & China Gas Co. Ltd.  | 233000 | &nbsp;&nbsp;&nbsp; 202537 |
|  |  | &nbsp;&nbsp;&nbsp; 279627 |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |
| East Japan Railway Co.  | 4300 | &nbsp;&nbsp;&nbsp; 105370 |
| Hankyu Hanshin Holdings, Inc.  | 3900 | &nbsp;&nbsp;&nbsp; 115046 |
|  |  | &nbsp;&nbsp;&nbsp; 220416 |
| **Health Care Equipment & Supplies — 0.4%** | **Health Care Equipment & Supplies — 0.4%** | **Health Care Equipment & Supplies — 0.4%** |
| Abbott Laboratories | 5908 | &nbsp;&nbsp;&nbsp; 791317 |
| Becton Dickinson & Co.  | 1199 | &nbsp;&nbsp;&nbsp; 224417 |
| Boston Scientific Corp. (b) | 6107 | &nbsp;&nbsp;&nbsp; 596226 |
| Cooper Cos., Inc. (b) | 5251 | &nbsp;&nbsp;&nbsp; 360009 |
| Medtronic PLC | 7591 | &nbsp;&nbsp;&nbsp; 722967 |
| Smith & Nephew PLC | 7485 | &nbsp;&nbsp;&nbsp; 134864 |
| Sonova Holding AG | 2609 | &nbsp;&nbsp;&nbsp; 714875 |
| STERIS PLC | 1170 | &nbsp;&nbsp;&nbsp; 289505 |
| Stryker Corp.  | 1370 | &nbsp;&nbsp;&nbsp; 506448 |

---

**BHFTI-236**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care Equipment & Supplies—(Continued)** | **Health Care Equipment & Supplies—(Continued)** | **Health Care Equipment & Supplies—(Continued)** |
| Zimmer Biomet Holdings, Inc.  | 2140 | &nbsp;&nbsp;&nbsp; $210790 |
|  |  | &nbsp;&nbsp;&nbsp; 4551418 |
| **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** |
| Henry Schein, Inc. (b) | 6507 | &nbsp;&nbsp;&nbsp; 431870 |
| Labcorp Holdings, Inc.  | 656 | &nbsp;&nbsp;&nbsp; 188311 |
| NMC Health PLC (b) (c) (d) | 1427 | &nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp; 620181 |
| **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** |
| Compass Group PLC | 2992 | &nbsp;&nbsp;&nbsp; 101936 |
| Genting Singapore Ltd.  | 197200 | &nbsp;&nbsp;&nbsp; 112303 |
| McDonald's Corp.  | 599 | &nbsp;&nbsp;&nbsp; 182030 |
| Restaurant Brands International, Inc.  | 3482 | &nbsp;&nbsp;&nbsp; 223376 |
| Yum! Brands, Inc.  | 7620 | &nbsp;&nbsp;&nbsp; 1158240 |
|  |  | &nbsp;&nbsp;&nbsp; 1777885 |
| **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** |
| Church & Dwight Co., Inc.  | 5879 | &nbsp;&nbsp;&nbsp; 515176 |
| Kimberly-Clark Corp.  | 2026 | &nbsp;&nbsp;&nbsp; 251913 |
| Procter & Gamble Co.  | 2312 | &nbsp;&nbsp;&nbsp; 355239 |
| Reckitt Benckiser Group PLC | 1231 | &nbsp;&nbsp;&nbsp; 95071 |
|  |  | &nbsp;&nbsp;&nbsp; 1217399 |
| **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** |
| Jardine Matheson Holdings Ltd.  | 6300 | &nbsp;&nbsp;&nbsp; 398478 |
| Keppel Ltd.  | 31900 | &nbsp;&nbsp;&nbsp; 220573 |
| Sekisui Chemical Co. Ltd.  | 9600 | &nbsp;&nbsp;&nbsp; 178513 |
| Siemens AG | 1797 | &nbsp;&nbsp;&nbsp; 484863 |
| Smiths Group PLC | 6025 | &nbsp;&nbsp;&nbsp; 192200 |
|  |  | &nbsp;&nbsp;&nbsp; 1474627 |
| **Insurance — 1.1%** | **Insurance — 1.1%** | **Insurance — 1.1%** |
| Allianz SE | 3729 | &nbsp;&nbsp;&nbsp; 1567457 |
| Allstate Corp.  | 2711 | &nbsp;&nbsp;&nbsp; 581916 |
| Arthur J Gallagher & Co.  | 1998 | &nbsp;&nbsp;&nbsp; 618861 |
| Assurant, Inc.  | 3996 | &nbsp;&nbsp;&nbsp; 865534 |
| Aviva PLC | 83717 | &nbsp;&nbsp;&nbsp; 775229 |
| AXA SA | 26629 | &nbsp;&nbsp;&nbsp; 1275020 |
| Baloise Holding AG | 702 | &nbsp;&nbsp;&nbsp; 173703 |
| Brown & Brown, Inc.  | 5194 | &nbsp;&nbsp;&nbsp; 487145 |
| Chubb Ltd.  | 2454 | &nbsp;&nbsp;&nbsp; 692642 |
| Everest Group Ltd.  | 913 | &nbsp;&nbsp;&nbsp; 319760 |
| Generali | 38268 | &nbsp;&nbsp;&nbsp; 1503693 |
| Hartford Insurance Group, Inc.  | 2483 | &nbsp;&nbsp;&nbsp; 331207 |
| Japan Post Holdings Co. Ltd.  | 10200 | &nbsp;&nbsp;&nbsp; 101264 |
| Japan Post Insurance Co. Ltd.  | 4600 | &nbsp;&nbsp;&nbsp; 130236 |
| Manulife Financial Corp.  | 48953 | &nbsp;&nbsp;&nbsp; 1525187 |
| Marsh & McLennan Cos., Inc.  | 3653 | &nbsp;&nbsp;&nbsp; 736189 |
| NN Group NV | 9733 | &nbsp;&nbsp;&nbsp; 687181 |
| Travelers Cos., Inc.  | 2683 | &nbsp;&nbsp;&nbsp; 749147 |
| W.R. Berkley Corp.  | 10474 | &nbsp;&nbsp;&nbsp; 802518 |
| Zurich Insurance Group AG | 344 | &nbsp;&nbsp;&nbsp; 245538 |
|  |  | &nbsp;&nbsp;&nbsp; 14169427 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** |
| Auto Trader Group PLC | 8247 | &nbsp;&nbsp;&nbsp; $87504 |
| Scout24 SE | 2025 | &nbsp;&nbsp;&nbsp; 253541 |
|  |  | &nbsp;&nbsp;&nbsp; 341045 |
| **IT Services — 0.3%** | **IT Services — 0.3%** | **IT Services — 0.3%** |
| Accenture PLC - Class A | 2940 | &nbsp;&nbsp;&nbsp; 725004 |
| CGI, Inc.  | 1251 | &nbsp;&nbsp;&nbsp; 111428 |
| Cognizant Technology Solutions Corp. - Class A | 16267 | &nbsp;&nbsp;&nbsp; 1091028 |
| SCSK Corp.  | 6500 | &nbsp;&nbsp;&nbsp; 194806 |
| Wix.com Ltd. (b) | 6340 | &nbsp;&nbsp;&nbsp; 1126174 |
|  |  | &nbsp;&nbsp;&nbsp; 3248440 |
| **Machinery — 0.2%** | **Machinery — 0.2%** | **Machinery — 0.2%** |
| Dover Corp.  | 6050 | &nbsp;&nbsp;&nbsp; 1009322 |
| GEA Group AG | 5664 | &nbsp;&nbsp;&nbsp; 418437 |
| Illinois Tool Works, Inc.  | 3368 | &nbsp;&nbsp;&nbsp; 878240 |
| Sandvik AB | 3749 | &nbsp;&nbsp;&nbsp; 104987 |
| Schindler Holding AG | 486 | &nbsp;&nbsp;&nbsp; 175710 |
|  |  | &nbsp;&nbsp;&nbsp; 2586696 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| Comcast Corp. - Class A | 28682 | &nbsp;&nbsp;&nbsp; 901189 |
| Fox Corp. - Class B | 30452 | &nbsp;&nbsp;&nbsp; 1744595 |
|  |  | &nbsp;&nbsp;&nbsp; 2645784 |
| **Metals & Mining — 0.5%** | **Metals & Mining — 0.5%** | **Metals & Mining — 0.5%** |
| Anglo American PLC | 26911 | &nbsp;&nbsp;&nbsp; 1013197 |
| BHP Group Ltd.  | 58840 | &nbsp;&nbsp;&nbsp; 1644071 |
| Fortescue Ltd.  | 90170 | &nbsp;&nbsp;&nbsp; 1118543 |
| Newmont Corp.  | 16182 | &nbsp;&nbsp;&nbsp; 1364304 |
| Rio Tinto Ltd.  | 12738 | &nbsp;&nbsp;&nbsp; 1029861 |
| Rio Tinto PLC | 2708 | &nbsp;&nbsp;&nbsp; 178458 |
|  |  | &nbsp;&nbsp;&nbsp; 6348434 |
| **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** |
| Ameren Corp.  | 1827 | &nbsp;&nbsp;&nbsp; 190702 |
| Canadian Utilities Ltd. - Class A | 8556 | &nbsp;&nbsp;&nbsp; 239337 |
| CMS Energy Corp.  | 22318 | &nbsp;&nbsp;&nbsp; 1635017 |
| Consolidated Edison, Inc.  | 9504 | &nbsp;&nbsp;&nbsp; 955342 |
| DTE Energy Co.  | 1684 | &nbsp;&nbsp;&nbsp; 238168 |
| Engie SA | 9874 | &nbsp;&nbsp;&nbsp; 211803 |
| WEC Energy Group, Inc.  | 14584 | &nbsp;&nbsp;&nbsp; 1671181 |
|  |  | &nbsp;&nbsp;&nbsp; 5141550 |
| **Oil, Gas & Consumable Fuels — 0.6%** | **Oil, Gas & Consumable Fuels — 0.6%** | **Oil, Gas & Consumable Fuels — 0.6%** |
| Exxon Mobil Corp.  | 12415 | &nbsp;&nbsp;&nbsp; 1399791 |
| Kinder Morgan, Inc.  | 40754 | &nbsp;&nbsp;&nbsp; 1153746 |
| OMV AG | 5999 | &nbsp;&nbsp;&nbsp; 319910 |
| ONEOK, Inc.  | 17923 | &nbsp;&nbsp;&nbsp; 1307841 |
| Shell PLC | 44103 | &nbsp;&nbsp;&nbsp; 1570225 |
| Targa Resources Corp.  | 2511 | &nbsp;&nbsp;&nbsp; 420693 |
| Williams Cos., Inc.  | 17523 | &nbsp;&nbsp;&nbsp; 1110082 |
|  |  | &nbsp;&nbsp;&nbsp; 7282288 |

---

**BHFTI-237**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** |
| Holmen AB - B Shares | 4049 | &nbsp;&nbsp;&nbsp; $153770 |
| Mondi PLC | 8856 | &nbsp;&nbsp;&nbsp; 122647 |
| Svenska Cellulosa AB SCA - Class B | 10617 | &nbsp;&nbsp;&nbsp; 140664 |
| UPM-Kymmene OYJ | 17872 | &nbsp;&nbsp;&nbsp; 489401 |
|  |  | &nbsp;&nbsp;&nbsp; 906482 |
| **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** |
| Beiersdorf AG | 2586 | &nbsp;&nbsp;&nbsp; 270554 |
| Unilever PLC | 1984 | &nbsp;&nbsp;&nbsp; 117278 |
|  |  | &nbsp;&nbsp;&nbsp; 387832 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| Astellas Pharma, Inc.  | 54800 | &nbsp;&nbsp;&nbsp; 597656 |
| Haleon PLC | 29539 | &nbsp;&nbsp;&nbsp; 133426 |
| Johnson & Johnson | 4138 | &nbsp;&nbsp;&nbsp; 767268 |
| Merck & Co., Inc.  | 2511 | &nbsp;&nbsp;&nbsp; 210748 |
| Novartis AG | 2151 | &nbsp;&nbsp;&nbsp; 276598 |
| Pfizer, Inc.  | 7021 | &nbsp;&nbsp;&nbsp; 178895 |
| Roche Holding AG (Bearer Shares) | 426 | &nbsp;&nbsp;&nbsp; 146878 |
| Takeda Pharmaceutical Co. Ltd.  | 14038 | &nbsp;&nbsp;&nbsp; 409822 |
| UCB SA | 521 | &nbsp;&nbsp;&nbsp; 144145 |
| Zoetis, Inc.  | 3139 | &nbsp;&nbsp;&nbsp; 459298 |
|  |  | &nbsp;&nbsp;&nbsp; 3324734 |
| **Professional Services — 0.1%** | **Professional Services — 0.1%** | **Professional Services — 0.1%** |
| Experian PLC | 3092 | &nbsp;&nbsp;&nbsp; 155720 |
| Paychex, Inc.  | 400 | &nbsp;&nbsp;&nbsp; 50704 |
| RELX PLC | 6487 | &nbsp;&nbsp;&nbsp; 309833 |
| Wolters Kluwer NV | 5454 | &nbsp;&nbsp;&nbsp; 744513 |
|  |  | &nbsp;&nbsp;&nbsp; 1260770 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |
| CK Asset Holdings Ltd.  | 45000 | &nbsp;&nbsp;&nbsp; 218385 |
| Hongkong Land Holdings Ltd.  | 48300 | &nbsp;&nbsp;&nbsp; 305642 |
| Sino Land Co. Ltd.  | 116000 | &nbsp;&nbsp;&nbsp; 146857 |
|  |  | &nbsp;&nbsp;&nbsp; 670884 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| ASML Holding NV | 140 | &nbsp;&nbsp;&nbsp; 136495 |
| Tokyo Electron Ltd.  | 6200 | &nbsp;&nbsp;&nbsp; 1117860 |
|  |  | &nbsp;&nbsp;&nbsp; 1254355 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| Check Point Software Technologies Ltd. (b) | 531 | &nbsp;&nbsp;&nbsp; 109869 |
| Descartes Systems Group, Inc. (b) | 3418 | &nbsp;&nbsp;&nbsp; 321833 |
| Roper Technologies, Inc.  | 2369 | &nbsp;&nbsp;&nbsp; 1181397 |
| Sage Group PLC | 8160 | &nbsp;&nbsp;&nbsp; 121156 |
| SAP SE | 621 | &nbsp;&nbsp;&nbsp; 166485 |
|  |  | &nbsp;&nbsp;&nbsp; 1900740 |
| **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** |
| Home Depot, Inc.  | 2997 | &nbsp;&nbsp;&nbsp; 1214354 |
| Kingfisher PLC | 28629 | &nbsp;&nbsp;&nbsp; 119559 |
| Lowe's Cos., Inc.  | 5337 | &nbsp;&nbsp;&nbsp; 1341241 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Specialty Retail—(Continued)** | **Specialty Retail—(Continued)** | **Specialty Retail—(Continued)** |
| TJX Cos., Inc.  | 8876 | &nbsp;&nbsp;&nbsp; $1282937 |
|  |  | &nbsp;&nbsp;&nbsp; 3958091 |
| **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** |
| Logitech International SA | 1406 | &nbsp;&nbsp;&nbsp; 154852 |
| **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** |
| Cie Financiere Richemont SA - Class A | 777 | &nbsp;&nbsp;&nbsp; 149090 |
| **Tobacco — 0.1%** | **Tobacco — 0.1%** | **Tobacco — 0.1%** |
| Altria Group, Inc.  | 7192 | &nbsp;&nbsp;&nbsp; 475104 |
| British American Tobacco PLC | 1809 | &nbsp;&nbsp;&nbsp; 95997 |
| Imperial Brands PLC | 3843 | &nbsp;&nbsp;&nbsp; 163249 |
|  |  | &nbsp;&nbsp;&nbsp; 734350 |
| **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** |
| Tele2 AB - B Shares | 13684 | &nbsp;&nbsp;&nbsp; 233445 |
| Vodafone Group PLC | 74811 | &nbsp;&nbsp;&nbsp; 86750 |
|  |  | &nbsp;&nbsp;&nbsp; 320195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $112,489,214) <br>|  | &nbsp;&nbsp;&nbsp; 119499215 |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| Sofina SA (b) | 35 | &nbsp;&nbsp;&nbsp; 78 |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| ABIOMED, Inc. (b) (c) (d) | 1165 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Rights <br>(Cost $1,188) <br>|  | &nbsp;&nbsp;&nbsp; 78 |
| **Warrants—0.0%** | **Warrants—0.0%** | **Warrants—0.0%** |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Software, Inc., Expires 03/31/40 (b) <br>(Cost $0)<br>| 179 | &nbsp;&nbsp;&nbsp; 0 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—77.8%** | **Short-Term Investments—77.8%** | **Short-Term Investments—77.8%** |
| **U.S. Treasury—6.6%** | **U.S. Treasury—6.6%** | **U.S. Treasury—6.6%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.222%, 10/07/25 (e) (f) | 84000000 | &nbsp;&nbsp;&nbsp; 83943058 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investment Funds—71.2%** |  |  |
| BlackRock Liquidity Funds T-Fund, Institutional Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.002% (g) | 235824021 | &nbsp;&nbsp;&nbsp; 235824021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury & Agency Cash Management, Institutional <br> Shares<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.996% (g) | 249120115 | &nbsp;&nbsp;&nbsp; 249120115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.032% (g) | 244576949 | &nbsp;&nbsp;&nbsp; 244576949 |

---

**BHFTI-238**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Short-Term Investments—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Short-Term Investment Funds —(Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional Treasury Plus Money Market Fund, <br> Premier Class<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.070% (g) | 172455999 | &nbsp;&nbsp;&nbsp; $172455999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investment Funds <br>(Cost $901,977,084) <br>|  | &nbsp;&nbsp;&nbsp; 901977084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $985,917,984) <br>|  | &nbsp;&nbsp;&nbsp; 985920142 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.0% <br>(Cost $1,247,754,643) <br>|  | &nbsp;&nbsp;&nbsp; 1254913090 |
| Other assets and liabilities (net)—1.0%  |  | &nbsp;&nbsp;&nbsp; 12973173 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1267886263 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Principal amount of security is adjusted for inflation.

(b) Non-income producing security.

(c) Security was valued in good faith under procedures subject to oversight by the Board of Trustees. 

---

| | |
|:---|:---|
|  | As of September 30, 2025, these securities represent 0.0% of net assets. |
| (d) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |
| (e) | All or a portion of the security was pledged as collateral against open futures contracts. As of <br> September 30, 2025, the market value of securities pledged was $83,943,058.<br>|
| (f) | The rate shown represents current yield to maturity. |
| (g) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |

---

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Australian 10 Year Treasury Bond Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 889 | AUD | 100769617 | &nbsp;&nbsp; $(55702)<br>|
| Brent Crude Oil Futures | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 171 | USD | 11221020 | &nbsp;&nbsp; (321848)<br>|
| Cattle Feeder Futures | &nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp; 313 | USD | 56238275 | &nbsp;&nbsp; 1266938 |
| Cattle Feeder Futures | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 68 | USD | 12003700 | &nbsp;&nbsp; 390976 |
| Cocoa Futures | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 43 | USD | 2922280 | &nbsp;&nbsp; (194833)<br>|
| Coffee "C" Futures | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; 34 | USD | 4779338 | &nbsp;&nbsp; 1128181 |
| Copper Futures | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 464 | USD | 56335400 | &nbsp;&nbsp; 3141384 |
| Corn Futures | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 763 | USD | 15851325 | &nbsp;&nbsp; (309276)<br>|
| Cotton No. 2 Futures | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 18 | USD | 591930 | &nbsp;&nbsp; (23257)<br>|
| DAX Index Futures | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 37 | EUR | 22210175 | &nbsp;&nbsp; 134144 |
| Euro-Bobl Futures | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 334 | EUR | 39348540 | &nbsp;&nbsp; (41903)<br>|
| Euro-BTP Futures | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 568 | EUR | 68069120 | &nbsp;&nbsp; 570858 |
| Euro-Bund Futures | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 730 | EUR | 93856100 | &nbsp;&nbsp; 403559 |
| Euro-Buxl 30 Year Bond Futures | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 81 | EUR | 9272880 | &nbsp;&nbsp; 193680 |
| FTSE 100 Index Futures | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 308 | GBP | 28975100 | &nbsp;&nbsp; 295266 |
| Gold 100 oz. Futures | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 202 | USD | 78238640 | &nbsp;&nbsp; 9224862 |
| Hang Seng Index Futures | &nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp; 176 | HKD | 236825600 | &nbsp;&nbsp; 410098 |
| IBEX 35 Index Futures | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 144 | EUR | 22331664 | &nbsp;&nbsp; 464432 |
| Japanese Government 10 Year Bond Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 161 | JPY | 21862190000 | &nbsp;&nbsp; (1291550)<br>|
| Lean Hogs Futures | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 1343 | USD | 47663070 | &nbsp;&nbsp; 1210756 |
| Lean Hogs Futures | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 69 | USD | 2492280 | &nbsp;&nbsp; 11081 |
| Lean Hogs Futures | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 45 | USD | 1671300 | &nbsp;&nbsp; (767)<br>|
| Live Cattle Futures | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 894 | USD | 83955540 | &nbsp;&nbsp; (251334)<br>|
| Live Cattle Futures | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 45 | USD | 4269150 | &nbsp;&nbsp; (2318)<br>|
| LME Nickel Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 139 | USD | 12685499 | &nbsp;&nbsp; 122654 |
| LME Primary Aluminum Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 157 | USD | 10522493 | &nbsp;&nbsp; 445183 |
| LME Zinc Futures | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 152 | USD | 11282732 | &nbsp;&nbsp; 766347 |
| Low Sulphur Gas Oil Futures | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 176 | USD | 11853600 | &nbsp;&nbsp; (79278)<br>|
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 3125 | USD | 212453125 | &nbsp;&nbsp; 3406521 |

---

**BHFTI-239**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Futures Contracts — (Continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration**<br> **Date**<br>| **Number of**<br> **Contracts**<br>| **Notional**<br> **Value** | **Notional**<br> **Value** | **Value/**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| NASDAQ 100 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 19 | USD | 9462665 | &nbsp;&nbsp;&nbsp; $246504 |
| New York Harbor ULSD Future | &nbsp;&nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp;&nbsp; 101 | USD | 9757873 | &nbsp;&nbsp;&nbsp; 158307 |
| OMX Stockholm 30 Index Futures | &nbsp;&nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp;&nbsp; 1053 | SEK | 280624500 | &nbsp;&nbsp;&nbsp; 443211 |
| RBOB Gasoline Futures | &nbsp;&nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp;&nbsp; 156 | USD | 12283034 | &nbsp;&nbsp;&nbsp; (12829)<br>|
| Russell 2000 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 592 | USD | 72682800 | &nbsp;&nbsp;&nbsp; 355416 |
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 273 | USD | 91983937 | &nbsp;&nbsp;&nbsp; 1031200 |
| S&P TSX 60 Index Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; 144 | CAD | 51056640 | &nbsp;&nbsp;&nbsp; 642452 |
| Silver Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 194 | USD | 45240800 | &nbsp;&nbsp;&nbsp; 7687458 |
| Soybean Futures | &nbsp;&nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp;&nbsp; 270 | USD | 13773375 | &nbsp;&nbsp;&nbsp; (659016)<br>|
| Soybean Meal Futures | &nbsp;&nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp;&nbsp; 162 | USD | 4427460 | &nbsp;&nbsp;&nbsp; (156955)<br>|
| Soybean Oil Futures | &nbsp;&nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp;&nbsp; 366 | USD | 10868004 | &nbsp;&nbsp;&nbsp; (933832)<br>|
| SPI 200 Index Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; 258 | AUD | 57230850 | &nbsp;&nbsp;&nbsp; (7070)<br>|
| TOPIX Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; 175 | JPY | 5496750000 | &nbsp;&nbsp;&nbsp; 230664 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 651 | GBP | 59136840 | &nbsp;&nbsp;&nbsp; 410568 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 953 | USD | 111113844 | &nbsp;&nbsp;&nbsp; 2794690 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 3706 | USD | 772324611 | &nbsp;&nbsp;&nbsp; 713413 |
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 2775 | USD | 303016994 | &nbsp;&nbsp;&nbsp; 490390 |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 378 | USD | 42525000 | &nbsp;&nbsp;&nbsp; (59732)<br>|
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 241 | USD | 28935062 | &nbsp;&nbsp;&nbsp; 105756 |
| Wheat Futures | &nbsp;&nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp;&nbsp; 376 | USD | 9550400 | &nbsp;&nbsp;&nbsp; (378766)<br>|
| WTI Crude Oil Futures | &nbsp;&nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp;&nbsp; 152 | USD | 9417920 | &nbsp;&nbsp;&nbsp; (368377)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| Australian Dollar Currency Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (315)<br>| USD | (20859300)<br>| &nbsp;&nbsp;&nbsp; (62329)<br>|
| British Pound Currency Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (328)<br>| USD | (27574550)<br>| &nbsp;&nbsp;&nbsp; 215026 |
| Canadian Dollar Currency Futures | &nbsp;&nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp;&nbsp; (429)<br>| USD | (30930900)<br>| &nbsp;&nbsp;&nbsp; 264153 |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (168)<br>| USD | (24763200)<br>| &nbsp;&nbsp;&nbsp; 75811 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (330)<br>| USD | (28107750)<br>| &nbsp;&nbsp;&nbsp; 150116 |
| LME Nickel Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (20)<br>| USD | (1825252)<br>| &nbsp;&nbsp;&nbsp; 8435 |
| LME Primary Aluminum Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (23)<br>| USD | (1541512)<br>| &nbsp;&nbsp;&nbsp; (35925)<br>|
| LME Zinc Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (20)<br>| USD | (1484570)<br>| &nbsp;&nbsp;&nbsp; (55739)<br>|
| Swiss Franc Currency Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; (154)<br>| USD | (24395525)<br>| &nbsp;&nbsp;&nbsp; 148745 |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $34456599 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $149493655 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $149493655 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp; 1673969 | &nbsp;&nbsp;&nbsp; 426453 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2100422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 749549 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 749549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; 516483 | &nbsp;&nbsp;&nbsp; 12141932 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12658415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; 751291 | &nbsp;&nbsp;&nbsp; 107367 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 858658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp; 288960 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 288960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp; 464488 | &nbsp;&nbsp;&nbsp; 558696 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1023184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1963064 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1963064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp; 65320 | &nbsp;&nbsp;&nbsp; 392561 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 457881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; 1570941 | &nbsp;&nbsp;&nbsp; 884692 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2455633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp; 1191919 | &nbsp;&nbsp;&nbsp; 1157449 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2349368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp; 460809 | &nbsp;&nbsp;&nbsp; 763428 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1224237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 119492 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 119492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2506702 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2506702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp; 683221 | &nbsp;&nbsp;&nbsp; 1512415 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2195636 |

---

**BHFTI-240**

------

**Brighthouse Funds Trust I**

**PanAgora Global Diversified Risk Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp; $3003062 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3003062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 137548 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 137548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp; 3249493 | &nbsp;&nbsp;&nbsp; 1963413 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5212906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp; 2413485 | &nbsp;&nbsp;&nbsp; 802002 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3215487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp; 590132 | &nbsp;&nbsp;&nbsp; 970338 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1560470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp; 1813856 | &nbsp;&nbsp;&nbsp; 872074 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2685930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 114625 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 114625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp; 4983197 | &nbsp;&nbsp;&nbsp; 707197 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5690394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas Utilities | &nbsp;&nbsp;&nbsp; 77090 | &nbsp;&nbsp;&nbsp; 202537 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 279627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 220416 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 220416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; 3701679 | &nbsp;&nbsp;&nbsp; 849739 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4551418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; 620181 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 620181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 1563646 | &nbsp;&nbsp;&nbsp; 214239 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1777885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp; 1122328 | &nbsp;&nbsp;&nbsp; 95071 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1217399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1474627 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1474627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 7710106 | &nbsp;&nbsp;&nbsp; 6459321 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14169427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 341045 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 341045 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 3053634 | &nbsp;&nbsp;&nbsp; 194806 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3248440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 1887562 | &nbsp;&nbsp;&nbsp; 699134 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2586696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; 2645784 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2645784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp; 1364304 | &nbsp;&nbsp;&nbsp; 4984130 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6348434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp; 4929747 | &nbsp;&nbsp;&nbsp; 211803 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5141550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 5392153 | &nbsp;&nbsp;&nbsp; 1890135 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7282288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paper & Forest Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 906482 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 906482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 387832 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 387832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; 1616209 | &nbsp;&nbsp;&nbsp; 1708525 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3324734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp; 50704 | &nbsp;&nbsp;&nbsp; 1210066 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1260770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 670884 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 670884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1254355 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1254355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 1613099 | &nbsp;&nbsp;&nbsp; 287641 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1900740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; 3838532 | &nbsp;&nbsp;&nbsp; 119559 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3958091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 154852 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 154852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 149090 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 149090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp; 475104 | &nbsp;&nbsp;&nbsp; 259246 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 734350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 320195 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 320195 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 65497113 | &nbsp;&nbsp;&nbsp; 54002102 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 119499215 |
| Rights |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| Total Rights | &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 78 |
| Total Warrants\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 901977084 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 901977084 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 83943058 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 83943058 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp; 901977084 | &nbsp;&nbsp;&nbsp; 83943058 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 985920142 |
| Total Investments | &nbsp;&nbsp;&nbsp; $967474275 | &nbsp;&nbsp;&nbsp; $287438815 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1254913090 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $39759235 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $39759235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (5302636)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (5302636)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $34456599 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $34456599 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Consolidated Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-241**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**U.S. Treasury & Government Agencies—94.4% of Net Assets**

**Agency Sponsored Mortgage-Backed Securities—18.9% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **U.S. Treasury — 94.4%** | **U.S. Treasury — 94.4%** | **U.S. Treasury — 94.4%** |
| U.S. Treasury Inflation-Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 02/15/51 (a) | 17010683 | &nbsp;&nbsp;&nbsp; $9425357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 02/15/52 (a) | 8355024 | &nbsp;&nbsp;&nbsp; 4523675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 02/15/50 (a) | 17867003 | &nbsp;&nbsp;&nbsp; 10558015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 02/15/43 (a) | 15314827 | &nbsp;&nbsp;&nbsp; 11623118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 02/15/42 (a) (b) | 40234572 | &nbsp;&nbsp;&nbsp; 31884465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 02/15/45 (a) | 28341181 | &nbsp;&nbsp;&nbsp; 21117670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 02/15/47 (a) | 40329333 | &nbsp;&nbsp;&nbsp; 29758844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 02/15/46 (a) (b) | 52104685 | &nbsp;&nbsp;&nbsp; 40150627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 02/15/44 (a) (b) | 39979450 | &nbsp;&nbsp;&nbsp; 34167971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/15/53 (a) | 8585088 | &nbsp;&nbsp;&nbsp; 6867905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/15/28 (a) (b) | 69912912 | &nbsp;&nbsp;&nbsp; 71054732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 02/15/40 (a) | 19473987 | &nbsp;&nbsp;&nbsp; 19614867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 02/15/41 (a) | 11844973 | &nbsp;&nbsp;&nbsp; 11828681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 02/15/54 (a) | 10314990 | &nbsp;&nbsp;&nbsp; 9519077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 01/15/27 (a) (c) (d) | 608695 | &nbsp;&nbsp;&nbsp; 619410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 02/15/55 (a) (b) | 12401614 | &nbsp;&nbsp;&nbsp; 12106107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/15/29 (a) | 21444636 | &nbsp;&nbsp;&nbsp; 22405945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 04/15/32 (a) (c) (d) | 3526966 | &nbsp;&nbsp;&nbsp; 3946694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 04/15/28 (a) (b) | 36098439 | &nbsp;&nbsp;&nbsp; 38398040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/15/29 (a) (b) | 39938147 | &nbsp;&nbsp;&nbsp; 43659342 |
| U.S. Treasury Inflation-Indexed Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 07/15/26 (a) | 21602669 | &nbsp;&nbsp;&nbsp; 21527149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 10/15/26 (a) | 29908395 | &nbsp;&nbsp;&nbsp; 29742802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 04/15/27 (a) (e) (f) | 11097770 | &nbsp;&nbsp;&nbsp; 10944014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 01/15/30 (a) (b) | 42320912 | &nbsp;&nbsp;&nbsp; 40399969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 07/15/30 (a) | 29645918 | &nbsp;&nbsp;&nbsp; 28185046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 01/15/31 (a) (b) | 47314925 | &nbsp;&nbsp;&nbsp; 44425378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 07/15/31 (a) | 18512640 | &nbsp;&nbsp;&nbsp; 17286706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 01/15/32 (a) | 7691178 | &nbsp;&nbsp;&nbsp; 7081282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 07/15/29 (a) (b) | 37556320 | &nbsp;&nbsp;&nbsp; 36429035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 01/15/27 (a) | 29125958 | &nbsp;&nbsp;&nbsp; 28898199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 07/15/27 (a) | 29699170 | &nbsp;&nbsp;&nbsp; 29497289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 01/15/28 (a) | 12928273 | &nbsp;&nbsp;&nbsp; 12777993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 07/15/32 (a) (b) | 169737550 | &nbsp;&nbsp;&nbsp; 160636559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 07/15/28 (a) (c) (d) (e) (f) | 5932563 | &nbsp;&nbsp;&nbsp; 5905131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 01/15/29 (a) | 16778282 | &nbsp;&nbsp;&nbsp; 16649693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 01/15/33 (a) (b) | 43171458 | &nbsp;&nbsp;&nbsp; 41839668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 04/15/28 (a) (c) (d) (e) | 6677090 | &nbsp;&nbsp;&nbsp; 6702584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 07/15/33 (a) (b) | 67449992 | &nbsp;&nbsp;&nbsp; 66407091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/27 (a) (b) | 97086078 | &nbsp;&nbsp;&nbsp; 98642114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/29 (a) (b) | 63049204 | &nbsp;&nbsp;&nbsp; 64296292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 04/15/30 (a) (b) | 54404536 | &nbsp;&nbsp;&nbsp; 55237750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/15/34 (a) | 11874944 | &nbsp;&nbsp;&nbsp; 11930235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 07/15/34 (a) (b) | 46496296 | &nbsp;&nbsp;&nbsp; 47171040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 07/15/35 (a) (b) | 12482212 | &nbsp;&nbsp;&nbsp; 12583270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 04/15/29 (a) | 14307869 | &nbsp;&nbsp;&nbsp; 14768361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 01/15/35 (a) (b) | 18126348 | &nbsp;&nbsp;&nbsp; 18660101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/15/28 (a) | 28791945 | &nbsp;&nbsp;&nbsp; 29989147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $1,517,923,106) <br>|  | &nbsp;&nbsp;&nbsp; 1391844440 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations — 2.9%** | **Agency Collateralized Mortgage Obligations — 2.9%** | **Agency Collateralized Mortgage Obligations — 2.9%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, SOFR30A + 0.464%, 07/15/44 (g) | 661731 | &nbsp;&nbsp;&nbsp; $650674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.837%, SOFR30A + 0.464%, 01/15/47 (g) | 1011186 | &nbsp;&nbsp;&nbsp; 983080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, SOFR30A + 1.150%, 08/25/55 (g) | 1274317 | &nbsp;&nbsp;&nbsp; 1278705 |
| Federal Home Loan Mortgage Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, SOFR30A + 0.564%, 09/15/42 (g) | 982078 | &nbsp;&nbsp;&nbsp; 966989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Structured Pass-<br> Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.532%, 1M TSFR + 0.374%, 08/25/31 (g) | 7394 | &nbsp;&nbsp;&nbsp; 7336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 12M MTA + 1.200%, 10/25/44 (g) | 587573 | &nbsp;&nbsp;&nbsp; 539352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 12M MTA + 1.200%, 02/25/45 (g) | 178568 | &nbsp;&nbsp;&nbsp; 173190 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.523%, SOFR30A + 0.174%, 12/25/36 (g) | 8911 | &nbsp;&nbsp;&nbsp; 8758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.523%, SOFR30A + 0.174%, 07/25/37 (g) | 61726 | &nbsp;&nbsp;&nbsp; 60621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.613%, SOFR30A + 0.264%, 08/25/34 (g) | 3481 | &nbsp;&nbsp;&nbsp; 3421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, SOFR30A + 0.464%, 07/25/37 (g) | 1339 | &nbsp;&nbsp;&nbsp; 1325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.851%, SOFR30A + 0.494%, 07/25/37 (g) | 18865 | &nbsp;&nbsp;&nbsp; 18686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.386%, SOFR30A + 1.030%, 06/25/55 (g) | 6982976 | &nbsp;&nbsp;&nbsp; 7027405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.536%, SOFR30A + 1.180%, 08/25/55 (g) | 1074935 | &nbsp;&nbsp;&nbsp; 1079763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.373%, 05/25/35 (g) | 36887 | &nbsp;&nbsp;&nbsp; 37719 |
| Federal National Mortgage Association Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, SOFR30A + 0.464%, 05/25/42 (g) | 13494 | &nbsp;&nbsp;&nbsp; 13455 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.920%, SOFR30A + 0.780%, 10/01/55 (g) | 14900000 | &nbsp;&nbsp;&nbsp; 14900000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.927%, 12M TSFR + 0.865%, 08/20/68 (g) | 1914513 | &nbsp;&nbsp;&nbsp; 1920910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, SOFR30A + 0.900%, 10/20/72 (g) | 2345705 | &nbsp;&nbsp;&nbsp; 2352235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.296%, 1M TSFR + 0.944%, 08/20/66 (g) | 56892 | &nbsp;&nbsp;&nbsp; 57054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.489%, SOFR30A + 1.100%, 05/20/73 (g) | 957748 | &nbsp;&nbsp;&nbsp; 971497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.592%, 12M TSFR + 1.465%, 04/20/67 (g) | 869745 | &nbsp;&nbsp;&nbsp; 881531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.739%, SOFR30A + 1.350%, 07/20/55 (g) | 9356502 | &nbsp;&nbsp;&nbsp; 9391470 |
|  |  | &nbsp;&nbsp;&nbsp; 43325176 |
| **Agency Mortgage-Backed Securities — 16.0%** | **Agency Mortgage-Backed Securities — 16.0%** | **Agency Mortgage-Backed Securities — 16.0%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/52 | 326958 | &nbsp;&nbsp;&nbsp; 318640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/52 | 96202 | &nbsp;&nbsp;&nbsp; 93815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/53 | 7908354 | &nbsp;&nbsp;&nbsp; 7692462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/53 | 997676 | &nbsp;&nbsp;&nbsp; 968960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/53 | 4091017 | &nbsp;&nbsp;&nbsp; 4135118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.430%, 1Y H15 + 2.225%, 01/01/34 (g) | 8280 | &nbsp;&nbsp;&nbsp; 8482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.920%, 01/25/26 | 1129127 | &nbsp;&nbsp;&nbsp; 1122383 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/52 | 325879 | &nbsp;&nbsp;&nbsp; 286886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/48 | 363686 | &nbsp;&nbsp;&nbsp; 348183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/49 | 125969 | &nbsp;&nbsp;&nbsp; 120029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/50 | 158770 | &nbsp;&nbsp;&nbsp; 150731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/50 | 218528 | &nbsp;&nbsp;&nbsp; 208706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/52 | 490553 | &nbsp;&nbsp;&nbsp; 463703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/52 | 449946 | &nbsp;&nbsp;&nbsp; 438500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 12M MTA + 1.200%, 07/01/44 (g) | 1974 | &nbsp;&nbsp;&nbsp; 1987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 12M MTA + 1.200%, 09/01/44 (g) | 5582 | &nbsp;&nbsp;&nbsp; 5638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/53 | 7638949 | &nbsp;&nbsp;&nbsp; 7714197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.526%, 1Y H15 + 2.360%, 11/01/34 (g) | 75021 | &nbsp;&nbsp;&nbsp; 78020 |

---

**BHFTI-242**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/20/52 | 24311271 | &nbsp;&nbsp;&nbsp; $22363738 |
| Government National Mortgage Association, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, TBA (h) | 21900000 | &nbsp;&nbsp;&nbsp; 19964391 |
| Uniform Mortgage-Backed Security, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (h) | 98900000 | &nbsp;&nbsp;&nbsp; 95863118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, TBA (h) | 48100000 | &nbsp;&nbsp;&nbsp; 49128972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, TBA (h) | 24000000 | &nbsp;&nbsp;&nbsp; 24801208 |
|  |  | &nbsp;&nbsp;&nbsp; 236277867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $278,298,329) <br>|  | &nbsp;&nbsp;&nbsp; 279603043 |
| **Asset-Backed Securities—8.0%** | **Asset-Backed Securities—8.0%** | **Asset-Backed Securities—8.0%** |
| **Asset-Backed - Home Equity — 0.9%** | **Asset-Backed - Home Equity — 0.9%** | **Asset-Backed - Home Equity — 0.9%** |
| ACE Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 1M TSFR + 0.514%, 03/25/37 (g) | 429758 | &nbsp;&nbsp;&nbsp; 173802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 1M TSFR + 1.164%, 12/25/33 (g) | 737045 | &nbsp;&nbsp;&nbsp; 739711 |
| Asset-Backed Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.097%, 1M TSFR + 0.939%, 04/25/34 (g) | 1015715 | &nbsp;&nbsp;&nbsp; 1075316 |
| Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.452%, 1M TSFR + 0.294%, 03/25/37 (g) | 699809 | &nbsp;&nbsp;&nbsp; 612789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.562%, 1M TSFR + 0.404%, 09/25/36 (144A) (g) | 546803 | &nbsp;&nbsp;&nbsp; 532675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.962%, 1M TSFR + 0.804%, 10/25/35 (g) | 3700000 | &nbsp;&nbsp;&nbsp; 3450303 |
| First NLC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.342%, 1M TSFR + 0.184%, 08/25/37 (144A) (g) | 714927 | &nbsp;&nbsp;&nbsp; 358083 |
| GSAA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.720%, 03/25/46 (i) | 258867 | &nbsp;&nbsp;&nbsp; 134818 |
| Home Equity Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.947%, 1M TSFR + 0.789%, 02/25/36 (g) | 987518 | &nbsp;&nbsp;&nbsp; 970740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.127%, 1M TSFR + 0.969%, 08/25/34 (g) | 159684 | &nbsp;&nbsp;&nbsp; 158976 |
| HSI Asset Securitization Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.372%, 1M TSFR + 0.214%, 10/25/36 (g) | 3829 | &nbsp;&nbsp;&nbsp; 1350 |
| MASTR Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 1M TSFR + 0.864%, 10/25/35 (g) | 81426 | &nbsp;&nbsp;&nbsp; 79335 |
| Morgan Stanley ABS Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.932%, 1M TSFR + 0.774%, 01/25/35 (g) | 397993 | &nbsp;&nbsp;&nbsp; 389648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.947%, 1M TSFR + 0.789%, 09/25/35 (g) | 914113 | &nbsp;&nbsp;&nbsp; 877374 |
| New Century Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 1M TSFR + 0.879%, 02/25/35 (g) | 267131 | &nbsp;&nbsp;&nbsp; 260904 |
| Nomura Home Equity Loan, Inc. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.707%, 1M TSFR + 0.549%, 03/25/36 (g) | 314425 | &nbsp;&nbsp;&nbsp; 314482 |
| Residential Asset Securities Corporation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 1M TSFR + 0.344%, 06/25/36 (g) | 2388927 | &nbsp;&nbsp;&nbsp; 2357088 |
| Soundview Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.452%, 1M TSFR + 0.294%, 07/25/37 (g) | 247298 | &nbsp;&nbsp;&nbsp; 223972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.472%, 1M TSFR + 0.314%, 06/25/37 (g) | 1663171 | &nbsp;&nbsp;&nbsp; 1139662 |
|  |  | &nbsp;&nbsp;&nbsp; 13851028 |
| **Asset-Backed - Other — 7.0%** | **Asset-Backed - Other — 7.0%** | **Asset-Backed - Other — 7.0%** |
| 522 Funding CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.627%, 3M TSFR + 1.302%, 10/20/31 (144A) (g) | 399027 | &nbsp;&nbsp;&nbsp; 399281 |
| AlbaCore Euro CLO IV DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.016%, 3M EURIBOR + 0.990%, 07/15/35 (144A) <br> (EUR) (g)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1175576 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Allegro CLO XI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.576%, 3M TSFR + 1.250%, 01/19/33 (144A) (g) | 2431531 | &nbsp;&nbsp;&nbsp; $2432807 |
| Arbor Realty Commercial Real Estate Notes Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.822%, SOFR30A + 1.450%, 01/15/37 (144A) (g) | 1286130 | &nbsp;&nbsp;&nbsp; 1286129 |
| ARES XLIV CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.424%, 3M TSFR + 1.130%, 04/15/34 (144A) (g) | 700000 | &nbsp;&nbsp;&nbsp; 701238 |
| Argent Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 05/25/36 (g) | 215233 | &nbsp;&nbsp;&nbsp; 51030 |
| Atlas Senior Loan Fund X Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.669%, 3M TSFR + 1.352%, 01/15/31 (144A) (g) | 13243 | &nbsp;&nbsp;&nbsp; 13246 |
| Bain Capital Credit CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.379%, 3M TSFR + 1.060%, 07/24/34 (144A) (g) | 3200000 | &nbsp;&nbsp;&nbsp; 3204515 |
| Barings Euro CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.006%, 3M EURIBOR + 0.980%, 10/15/34 (144A) <br> (EUR) (g)<br>| 3300000 | &nbsp;&nbsp;&nbsp; 3859525 |
| BDS LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.934%, 1M TSFR + 1.800%, 03/19/39 (144A) (g) | 1110639 | &nbsp;&nbsp;&nbsp; 1110524 |
| BlueMountain CLO XXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.659%, 3M TSFR + 1.342%, 07/15/31 (144A) (g) | 186901 | &nbsp;&nbsp;&nbsp; 187049 |
| Bosphorus CLO VI DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.876%, 3M EURIBOR + 0.850%, 05/25/34 (144A) <br> (EUR) (g)<br>| 7400000 | &nbsp;&nbsp;&nbsp; 8679939 |
| Capital Four U.S. CLO II Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.226%, 3M TSFR + 1.900%, 01/20/37 (144A) (g) | 900000 | &nbsp;&nbsp;&nbsp; 903118 |
| Carlyle Global Market Strategies CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.546%, 3M TSFR + 1.220%, 07/20/32 (144A) (g) | 552891 | &nbsp;&nbsp;&nbsp; 552891 |
| Carlyle Global Market Strategies Euro CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.786%, 3M EURIBOR + 0.750%, 11/15/31 (144A) <br> (EUR) (g)<br>| 506835 | &nbsp;&nbsp;&nbsp; 594482 |
| Catamaran CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.694%, 3M TSFR + 1.362%, 04/22/30 (144A) (g) | 142214 | &nbsp;&nbsp;&nbsp; 142325 |
| Cedar Funding V CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.684%, 3M TSFR + 1.362%, 07/17/31 (144A) (g) | 398182 | &nbsp;&nbsp;&nbsp; 398344 |
| CIFC European Funding CLO III DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.076%, 3M EURIBOR + 1.050%, 01/15/34 (144A) <br> (EUR) (g)<br>| 800000 | &nbsp;&nbsp;&nbsp; 939710 |
| CIFC Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.530%, 3M TSFR + 1.212%, 10/24/30 (144A) (g) | 654346 | &nbsp;&nbsp;&nbsp; 655131 |
| CIT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.522%, 1M TSFR + 1.614%, 10/25/37 (144A) (g) | 2995895 | &nbsp;&nbsp;&nbsp; 3031326 |
| Contego CLO IV DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.611%, 3M EURIBOR + 0.640%, 01/23/30 (144A) <br> (EUR) (g)<br>| 794989 | &nbsp;&nbsp;&nbsp; 928752 |
| Countrywide Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.462%, 1M TSFR + 0.304%, 11/25/37 (g) | 3660899 | &nbsp;&nbsp;&nbsp; 3498518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, 1M TSFR + 0.854%, 08/25/47 (g) | 16316 | &nbsp;&nbsp;&nbsp; 16000 |
| Credit-Based Asset Servicing & Securitization LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 1M TSFR + 0.234%, 07/25/37 (144A) (g) | 55483 | &nbsp;&nbsp;&nbsp; 36841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 1M TSFR + 0.334%, 07/25/37 (144A) (g) | 1105772 | &nbsp;&nbsp;&nbsp; 734189 |
| CSAB Mortgage-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.220%, 09/25/36 (i) | 357484 | &nbsp;&nbsp;&nbsp; 98160 |
| CVC Cordatus Loan Fund XXI DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.989%, 3M EURIBOR + 0.960%, 09/22/34 (144A) <br> (EUR) (g)<br>| 1700000 | &nbsp;&nbsp;&nbsp; 1992082 |
| CVC Cordatus Opportunity Loan Fund-R DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.876%, 3M EURIBOR + 0.840%, 08/15/33 (144A) <br> (EUR) (g)<br>| 1753257 | &nbsp;&nbsp;&nbsp; 2056486 |

---

**BHFTI-243**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Dryden 35 Euro CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.022%, 3M EURIBOR + 0.980%, 01/17/33 (144A) <br> (EUR) (g)<br>| 549068 | &nbsp;&nbsp;&nbsp; $644324 |
| Dryden 44 Euro CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.906%, 3M EURIBOR + 0.880%, 04/15/34 (144A) <br> (EUR) (g)<br>| 1299786 | &nbsp;&nbsp;&nbsp; 1525556 |
| Dryden 52 Euro CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.896%, 3M EURIBOR + 0.860%, 05/15/34 (144A) <br> (EUR) (g)<br>| 634866 | &nbsp;&nbsp;&nbsp; 743908 |
| Dryden 54 Senior Loan Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.476%, 3M TSFR + 1.150%, 10/19/29 (144A) (g) | 680377 | &nbsp;&nbsp;&nbsp; 680215 |
| Dryden 60 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.629%, 3M TSFR + 1.312%, 07/15/31 (144A) (g) | 335457 | &nbsp;&nbsp;&nbsp; 335558 |
| Dryden 64 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.561%, 3M TSFR + 1.232%, 04/18/31 (144A) (g) | 310894 | &nbsp;&nbsp;&nbsp; 311260 |
| Dryden 95 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.244%, 3M TSFR + 1.040%, 08/20/34 (144A) (g) | 2500000 | &nbsp;&nbsp;&nbsp; 2499285 |
| Dunedin Park CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.008%, 3M EURIBOR + 0.980%, 11/20/34 (144A) <br> (EUR) (g)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1172236 |
| Elevation CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.449%, 3M TSFR + 1.130%, 07/25/34 (144A) (g) | 700000 | &nbsp;&nbsp;&nbsp; 700342 |
| Ellington Loan Acquisition Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.372%, 1M TSFR + 1.214%, 05/25/37 (144A) (g) | 716146 | &nbsp;&nbsp;&nbsp; 703842 |
| First Franklin Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 1M TSFR + 0.234%, 12/25/36 (g) | 7146194 | &nbsp;&nbsp;&nbsp; 6608605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.582%, 1M TSFR + 0.424%, 07/25/36 (g) | 1162098 | &nbsp;&nbsp;&nbsp; 1125582 |
| Gallatin CLO VIII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.669%, 3M TSFR + 1.352%, 07/15/31 (144A) (g) | 269406 | &nbsp;&nbsp;&nbsp; 269600 |
| GSAMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.007%, 1M TSFR + 0.849%, 09/25/35 (g) | 58317 | &nbsp;&nbsp;&nbsp; 57823 |
| Henley CLO VII DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.929%, 3M EURIBOR + 0.990%, 04/25/34 (144A) <br> (EUR) (g)<br>| 1100000 | &nbsp;&nbsp;&nbsp; 1292183 |
| Jamestown CLO XVIII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.589%, 3M TSFR + 1.270%, 07/25/35 (144A) (g) | 600000 | &nbsp;&nbsp;&nbsp; 599566 |
| JP Morgan Mortgage Acquisition Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.482%, 1M TSFR + 0.324%, 10/25/36 (g) | 13505 | &nbsp;&nbsp;&nbsp; 13466 |
| KKR CLO 11 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.759%, 3M TSFR + 1.442%, 01/15/31 (144A) (g) | 122361 | &nbsp;&nbsp;&nbsp; 122428 |
| LCM Loan Income Fund I Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.617%, 3M TSFR + 1.292%, 04/20/31 (144A) (g) | 993656 | &nbsp;&nbsp;&nbsp; 993839 |
| LoanCore Issuer Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.931%, SOFR30A + 1.550%, 01/17/37 (144A) (g) | 1310293 | &nbsp;&nbsp;&nbsp; 1310407 |
| Long Beach Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.512%, 1M TSFR + 0.354%, 08/25/36 (g) | 799430 | &nbsp;&nbsp;&nbsp; 316678 |
| M360 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1M TSFR + 1.614%, 11/22/38 (144A) (g) | 35239 | &nbsp;&nbsp;&nbsp; 34617 |
| Madison Park Euro Funding IX DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.906%, 3M EURIBOR + 0.880%, 07/15/35 (144A) <br> (EUR) (g)<br>| 700000 | &nbsp;&nbsp;&nbsp; 818485 |
| Madison Park Funding XXXIX Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.582%, 3M TSFR + 1.250%, 10/22/34 (144A) (g) | 300000 | &nbsp;&nbsp;&nbsp; 299405 |
| Man Euro CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.776%, 3M EURIBOR + 1.750%, 10/15/36 (144A) <br> (EUR) (g)<br>| 7100000 | &nbsp;&nbsp;&nbsp; 8349897 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Man GLG Euro CLO V DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.704%, 3M EURIBOR + 0.690%, 12/15/31 (144A) <br> (EUR) (g)<br>| 1280333 | &nbsp;&nbsp;&nbsp; $1500353 |
| Marathon CLO XIII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 3M TSFR + 1.200%, 04/15/32 (144A) (g) | 1830907 | &nbsp;&nbsp;&nbsp; 1830923 |
| Marble Point CLO XXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 3M TSFR + 1.220%, 07/25/34 (144A) (g) | 1600000 | &nbsp;&nbsp;&nbsp; 1601920 |
| MF1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.284%, 1M TSFR + 2.150%, 06/19/37 (144A) (g) | 1544746 | &nbsp;&nbsp;&nbsp; 1546274 |
| MF1 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 1M TSFR + 1.194%, 10/16/36 (144A) (g) | 234539 | &nbsp;&nbsp;&nbsp; 234434 |
| Morgan Stanley ABS Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.247%, 1M TSFR + 1.089%, 07/25/34 (g) | 36061 | &nbsp;&nbsp;&nbsp; 38346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 1M TSFR + 1.164%, 06/25/35 (g) | 1232000 | &nbsp;&nbsp;&nbsp; 1147626 |
| Morgan Stanley IXIS Real Estate Capital Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.322%, 1M TSFR + 0.164%, 11/25/36 (g) | 489 | &nbsp;&nbsp;&nbsp; 155 |
| Northwoods Capital XII-B Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.228%, 3M TSFR + 1.190%, 06/15/31 (144A) (g) | 374864 | &nbsp;&nbsp;&nbsp; 374481 |
| Oak Hill European Credit Partners VII DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.764%, 3M EURIBOR + 0.740%, 10/20/31 (144A) <br> (EUR) (g)<br>| 747931 | &nbsp;&nbsp;&nbsp; 877709 |
| Ocean Trails CLO 8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.608%, 3M TSFR + 1.290%, 07/15/34 (144A) (g) | 1300000 | &nbsp;&nbsp;&nbsp; 1301079 |
| Octagon Investment Partners 18-R Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 3M TSFR + 1.222%, 04/16/31 (144A) (g) | 241457 | &nbsp;&nbsp;&nbsp; 241408 |
| OZLM XXIV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.747%, 3M TSFR + 1.422%, 07/20/32 (144A) (g) | 161684 | &nbsp;&nbsp;&nbsp; 161669 |
| Palmer Square European Loan Funding DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.006%, 3M EURIBOR + 0.970%, 08/15/33 (144A) <br> (EUR) (g)<br>| 949654 | &nbsp;&nbsp;&nbsp; 1115763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Place Securities, Inc. Asset-Backed Pass-Through <br> Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.007%, 1M TSFR + 0.849%, 09/25/35 (g) | 45681 | &nbsp;&nbsp;&nbsp; 44907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 1M TSFR + 1.164%, 10/25/34 (g) | 1061800 | &nbsp;&nbsp;&nbsp; 1050737 |
| Pikes Peak CLO 4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.528%, 3M TSFR + 1.210%, 07/15/34 (144A) (g) | 4300000 | &nbsp;&nbsp;&nbsp; 4304816 |
| Providus CLO IV DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.844%, 3M EURIBOR + 0.820%, 04/20/34 (144A) <br> (EUR) (g)<br>| 2900000 | &nbsp;&nbsp;&nbsp; 3397937 |
| Regatta XVI Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 3M TSFR + 1.200%, 01/15/33 (144A) (g) | 278577 | &nbsp;&nbsp;&nbsp; 279060 |
| Rockford Tower Europe CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.292%, 3M EURIBOR + 1.260%, 08/29/36 (144A) <br> (EUR) (g)<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1761062 |
| Romark CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.611%, 3M TSFR + 1.292%, 10/23/30 (144A) (g) | 214661 | &nbsp;&nbsp;&nbsp; 214722 |
| Saranac CLO VI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 3M TSFR + 1.402%, 08/13/31 (144A) (g) | 387696 | &nbsp;&nbsp;&nbsp; 387972 |
| Saxon Asset Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.582%, 1M TSFR + 0.424%, 09/25/37 (g) | 331927 | &nbsp;&nbsp;&nbsp; 320505 |
| Securitized Asset-Backed Receivables LLC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 1M TSFR + 0.414%, 07/25/36 (g) | 259574 | &nbsp;&nbsp;&nbsp; 101668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 07/25/36 (g) | 2936980 | &nbsp;&nbsp;&nbsp; 961501 |
| Segovia European CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.904%, 3M EURIBOR + 0.880%, 07/20/32 (144A) <br> (EUR) (g)<br>| 213279 | &nbsp;&nbsp;&nbsp; 250329 |

---

**BHFTI-244**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

**Non-Agency Mortgage-Backed Securities—1.4%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Silver Rock CLO II Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.366%, 3M TSFR + 1.040%, 01/20/35 (144A) (g) | 1100000 | &nbsp;&nbsp;&nbsp; $1098932 |
| Sound Point CLO IX Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.797%, 3M TSFR + 1.472%, 07/20/32 (144A) (g) | 1068717 | &nbsp;&nbsp;&nbsp; 1069365 |
| Soundview Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 1M TSFR + 0.234%, 11/25/36 (144A) (g) | 38014 | &nbsp;&nbsp;&nbsp; 10155 |
| St. Paul's CLO X DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.795%, 3M EURIBOR + 0.800%, 04/22/35 (144A) <br> (EUR) (g)<br>| 798455 | &nbsp;&nbsp;&nbsp; 932895 |
| TRTX Issuer Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.793%, 1M TSFR + 1.650%, 02/15/39 (144A) (g) | 651743 | &nbsp;&nbsp;&nbsp; 651738 |
| U.S. Small Business Administration |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.510%, 11/01/27 | 132975 | &nbsp;&nbsp;&nbsp; 134341 |
| Venture 33 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.639%, 3M TSFR + 1.322%, 07/15/31 (144A) (g) | 100397 | &nbsp;&nbsp;&nbsp; 100416 |
| Venture 44 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 3M TSFR + 1.140%, 10/20/34 (144A) (g) | 500000 | &nbsp;&nbsp;&nbsp; 497931 |
| Vibrant CLO XI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.707%, 3M TSFR + 1.382%, 07/20/32 (144A) (g) | 430804 | &nbsp;&nbsp;&nbsp; 430516 |
| Voya CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.559%, 3M TSFR + 1.242%, 06/07/30 (144A) (g) | 18360 | &nbsp;&nbsp;&nbsp; 18362 |
| Wellfleet CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 3M TSFR + 1.582%, 04/25/34 (144A) (g) | 1400000 | &nbsp;&nbsp;&nbsp; 1400704 |
|  |  | &nbsp;&nbsp;&nbsp; 102601032 |
| **Asset-Backed - Student Loan — 0.1%** | **Asset-Backed - Student Loan — 0.1%** | **Asset-Backed - Student Loan — 0.1%** |
| SLM Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.152%, SOFR90A + 0.812%, 10/25/64 (144A) (g) | 1491559 | &nbsp;&nbsp;&nbsp; 1494363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $114,234,251) <br>|  | &nbsp;&nbsp;&nbsp; 117946423 |
| **Foreign Government—4.5%** | **Foreign Government—4.5%** | **Foreign Government—4.5%** |
| **Sovereign — 4.5%** | **Sovereign — 4.5%** | **Sovereign — 4.5%** |
| Canada Government Real Return Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/01/26 (CAD) (a) | 9011472 | &nbsp;&nbsp;&nbsp; 6748600 |
| French Republic Government Bonds OAT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 03/01/26 (144A) (EUR) (a) (j) | 18943945 | &nbsp;&nbsp;&nbsp; 22156457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 07/25/31 (144A) (EUR) (a) | 1958544 | &nbsp;&nbsp;&nbsp; 2180275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 07/25/38 (144A) (EUR) (a) | 120188 | &nbsp;&nbsp;&nbsp; 114532 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.400%, 05/15/30 (144A) (EUR) (a) | 2358166 | &nbsp;&nbsp;&nbsp; 2694574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 05/15/36 (144A) (EUR) (a) | 933741 | &nbsp;&nbsp;&nbsp; 1090797 |
| Japan Government CPI-Linked Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 03/10/28 (JPY) (a) | 1763765060 | &nbsp;&nbsp;&nbsp; 12109887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 03/10/29 (JPY) (a) | 2609384250 | &nbsp;&nbsp;&nbsp; 17977411 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 07/02/32 | 400000 | &nbsp;&nbsp;&nbsp; 412960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/29/38 | 300000 | &nbsp;&nbsp;&nbsp; 315303 |
| Mexico Udibonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/24/34 (MXN) (a) | 547243 | &nbsp;&nbsp;&nbsp; 28489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $66,567,881) <br>|  | &nbsp;&nbsp;&nbsp; 65829285 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations — 1.3%** | **Collateralized Mortgage Obligations — 1.3%** | **Collateralized Mortgage Obligations — 1.3%** |
| Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 1M TSFR + 0.474%, 05/25/47 (g) | 93423 | &nbsp;&nbsp;&nbsp; $86610 |
| Banc of America Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.063%, 02/20/36 (g) | 83413 | &nbsp;&nbsp;&nbsp; 79676 |
| Banc of America Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.119%, 09/25/35 (g) | 17299 | &nbsp;&nbsp;&nbsp; 15200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.333%, 06/25/35 (g) | 16894 | &nbsp;&nbsp;&nbsp; 15444 |
| Bear Stearns ALT-A Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 02/25/34 (g) | 32951 | &nbsp;&nbsp;&nbsp; 31150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 09/25/35 (g) | 363206 | &nbsp;&nbsp;&nbsp; 197720 |
| Bear Stearns ARM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.807%, 03/25/35 (g) | 82936 | &nbsp;&nbsp;&nbsp; 76169 |
| Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.019%, 02/25/37 (g) | 12935 | &nbsp;&nbsp;&nbsp; 12629 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.852%, 1M TSFR + 0.694%, 04/25/35 (g) | 187027 | &nbsp;&nbsp;&nbsp; 178873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/25/37 | 765884 | &nbsp;&nbsp;&nbsp; 334392 |
| Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.629%, 03/25/37 (g) | 1039976 | &nbsp;&nbsp;&nbsp; 869438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.490%, 1Y H15 + 2.400%, 05/25/35 (g) | 1711 | &nbsp;&nbsp;&nbsp; 1729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.498%, 08/25/35 (g) | 348 | &nbsp;&nbsp;&nbsp; 352 |
| Countrywide Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, 1M TSFR + 0.294%, 02/20/47 (g) | 336763 | &nbsp;&nbsp;&nbsp; 271793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.512%, 1M TSFR + 0.354%, 06/25/36 (g) | 869481 | &nbsp;&nbsp;&nbsp; 820726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.832%, 1M TSFR + 0.674%, 12/25/35 (g) | 12755 | &nbsp;&nbsp;&nbsp; 11977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/25/35 | 106037 | &nbsp;&nbsp;&nbsp; 57063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/25/25 | 307555 | &nbsp;&nbsp;&nbsp; 246363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/25/37 | 3048058 | &nbsp;&nbsp;&nbsp; 1002688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/25/37 | 426536 | &nbsp;&nbsp;&nbsp; 357079 |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.360%, 11/30/37 (144A) (g) | 1877706 | &nbsp;&nbsp;&nbsp; 1724962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.422%, 1M TSFR + 0.264%, 09/29/36 (144A) (g) | 76944 | &nbsp;&nbsp;&nbsp; 76540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.886%, 10/26/36 (144A) (g) | 32391 | &nbsp;&nbsp;&nbsp; 29359 |
| Deutsche Alt-B Securities, Inc. Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.372%, 1M TSFR + 0.214%, 10/25/36 (g) | 7267 | &nbsp;&nbsp;&nbsp; 6047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.369%, 10/25/36 (i) | 126956 | &nbsp;&nbsp;&nbsp; 110729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.386%, 10/25/36 (i) | 126956 | &nbsp;&nbsp;&nbsp; 110728 |
| Eurosail-U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.055%, SONIA + 1.069%, 06/13/45 (GBP) (g) | 304931 | &nbsp;&nbsp;&nbsp; 409742 |
| First Horizon Alternative Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, 06/25/34 (g) | 38031 | &nbsp;&nbsp;&nbsp; 38041 |
| GreenPoint Mortgage Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 1M TSFR + 0.474%, 09/25/46 (g) | 232788 | &nbsp;&nbsp;&nbsp; 216678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 1M TSFR + 0.654%, 11/25/45 (g) | 47374 | &nbsp;&nbsp;&nbsp; 44967 |
| GreenPoint MTA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.712%, 1M TSFR + 0.554%, 06/25/45 (g) | 56681 | &nbsp;&nbsp;&nbsp; 51727 |
| GSR Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.317%, 05/25/35 (g) | 98643 | &nbsp;&nbsp;&nbsp; 73051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, 11/25/35 (g) | 87813 | &nbsp;&nbsp;&nbsp; 74154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 09/25/35 (g) | 31764 | &nbsp;&nbsp;&nbsp; 30591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, 12/25/34 (g) | 131664 | &nbsp;&nbsp;&nbsp; 124046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/25/35 (g) | 19975 | &nbsp;&nbsp;&nbsp; 19043 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.628%, 1M TSFR + 0.494%, 09/19/37 (g) | 13355 | &nbsp;&nbsp;&nbsp; 11584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 1M TSFR + 0.554%, 05/19/35 (g) | 21695 | &nbsp;&nbsp;&nbsp; 20945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.808%, 1M TSFR + 0.674%, 02/19/36 (g) | 66675 | &nbsp;&nbsp;&nbsp; 28418 |

---

**BHFTI-245**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 1M TSFR + 1.014%, 06/20/35 (g) | 112100 | &nbsp;&nbsp;&nbsp; $104519 |
| IndyMac INDA Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.062%, 11/25/35 (g) | 14075 | &nbsp;&nbsp;&nbsp; 14639 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.063%, 07/27/37 (144A) (g) | 184974 | &nbsp;&nbsp;&nbsp; 171846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.106%, 08/25/35 (g) | 52447 | &nbsp;&nbsp;&nbsp; 46365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.203%, 09/25/35 (g) | 7267 | &nbsp;&nbsp;&nbsp; 6851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.204%, 07/25/35 (g) | 27184 | &nbsp;&nbsp;&nbsp; 26158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.583%, 02/25/35 (g) | 30992 | &nbsp;&nbsp;&nbsp; 30242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.913%, 07/25/35 (g) | 15158 | &nbsp;&nbsp;&nbsp; 15143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.037%, 08/25/35 (g) | 38289 | &nbsp;&nbsp;&nbsp; 36480 |
| Lehman XS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 1M TSFR + 0.654%, 12/25/35 (g) | 51010 | &nbsp;&nbsp;&nbsp; 47770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.572%, 1M TSFR + 2.414%, 12/25/37 (g) | 1567969 | &nbsp;&nbsp;&nbsp; 1564964 |
| MASTR Adjustable Rate Mortgages Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.321%, 12/25/33 (g) | 11770 | &nbsp;&nbsp;&nbsp; 10943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.578%, 11/21/34 (g) | 23559 | &nbsp;&nbsp;&nbsp; 22614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mellon Residential Funding Corp. Mortgage Pass-Through <br> Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.965%, 1M TSFR + 0.814%, 11/15/31 (g) | 20157 | &nbsp;&nbsp;&nbsp; 19576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mellon Residential Funding Corp. Mortgage Pass-Through <br> Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.705%, 1M TSFR + 0.554%, 12/15/30 (g) | 3141 | &nbsp;&nbsp;&nbsp; 3063 |
| Mill City Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/25/59 (144A) (g) | 268173 | &nbsp;&nbsp;&nbsp; 260834 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 07/25/59 (144A) (g) | 2642366 | &nbsp;&nbsp;&nbsp; 2551755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Opteum Mortgage Acceptance Corp. Asset-Backed Pass-<br> Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 1M TSFR + 1.164%, 04/25/35 (g) | 1170907 | &nbsp;&nbsp;&nbsp; 1167570 |
| RALI Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 1M TSFR + 0.414%, 08/25/35 (g) | 39549 | &nbsp;&nbsp;&nbsp; 27452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.139%, 10/25/37 (g) | 538348 | &nbsp;&nbsp;&nbsp; 429912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.513%, 12M MTA + 1.360%, 09/25/45 (g) | 34579 | &nbsp;&nbsp;&nbsp; 29473 |
| Reperforming Loan Trust REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1M TSFR + 0.454%, 06/25/35 (144A) (g) | 15841 | &nbsp;&nbsp;&nbsp; 15301 |
| Residential Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/25/36 | 269917 | &nbsp;&nbsp;&nbsp; 79619 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 1M TSFR + 0.514%, 07/20/36 (g) | 127986 | &nbsp;&nbsp;&nbsp; 110594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.948%, 1M TSFR + 0.814%, 10/19/26 (g) | 6524 | &nbsp;&nbsp;&nbsp; 6437 |
| Structured Adjustable Rate Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 12M MTA + 1.400%, 01/25/35 (g) | 35464 | &nbsp;&nbsp;&nbsp; 32593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.336%, 02/25/34 (g) | 15703 | &nbsp;&nbsp;&nbsp; 15190 |
| Structured Asset Mortgage Investments II Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 1M TSFR + 0.494%, 06/25/36 (g) | 9694 | &nbsp;&nbsp;&nbsp; 9582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 1M TSFR + 0.534%, 05/25/36 (g) | 11791 | &nbsp;&nbsp;&nbsp; 8292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 1M TSFR + 0.614%, 07/19/35 (g) | 37287 | &nbsp;&nbsp;&nbsp; 35897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.908%, 1M TSFR + 0.774%, 10/19/34 (g) | 12174 | &nbsp;&nbsp;&nbsp; 11721 |
| TBW Mortgage-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.515%, 07/25/37 (i) | 127119 | &nbsp;&nbsp;&nbsp; 46939 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, 1M TSFR + 1.114%, 10/25/59 (144A) (g) | 414093 | &nbsp;&nbsp;&nbsp; 414426 |
| Wachovia Mortgage Loan Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.616%, 1M TSFR + 0.574%, 01/25/37 (g) | 1370535 | &nbsp;&nbsp;&nbsp; 466669 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.949%, 12M MTA + 0.810%, 12/25/46 (g) | 24241 | &nbsp;&nbsp;&nbsp; $21350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.208%, 11/25/36 (g) | 2823126 | &nbsp;&nbsp;&nbsp; 2542561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.923%, 12M MTA + 0.770%, 05/25/47 (g) | 129188 | &nbsp;&nbsp;&nbsp; 114295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.051%, 12/25/35 (g) | 21817 | &nbsp;&nbsp;&nbsp; 20375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 12M MTA + 1.000%, 02/25/46 (g) | 45900 | &nbsp;&nbsp;&nbsp; 42151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 12M MTA + 1.000%, 08/25/46 (g) | 1260054 | &nbsp;&nbsp;&nbsp; 1156929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.201%, 12M MTA + 1.048%, 07/25/46 (g) | 230440 | &nbsp;&nbsp;&nbsp; 210258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 12M MTA + 1.200%, 11/25/42 (g) | 3618 | &nbsp;&nbsp;&nbsp; 3479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.653%, 12M MTA + 1.500%, 11/25/46 (g) | 86928 | &nbsp;&nbsp;&nbsp; 77661 |
| Wells Fargo Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.085%, 04/25/36 (g) | 22298 | &nbsp;&nbsp;&nbsp; 22104 |
|  |  | &nbsp;&nbsp;&nbsp; 19921015 |
| **Commercial Mortgage-Backed Securities — 0.1%** | **Commercial Mortgage-Backed Securities — 0.1%** | **Commercial Mortgage-Backed Securities — 0.1%** |
| ACRES LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.755%, 1M TSFR + 1.619%, 08/18/40 (144A) (g) | 500000 | &nbsp;&nbsp;&nbsp; 501374 |
| JP Morgan Chase Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 1M TSFR + 1.497%, 12/15/31 (144A) (g) | 551299 | &nbsp;&nbsp;&nbsp; 549161 |
|  |  | &nbsp;&nbsp;&nbsp; 1050535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $23,051,051) <br>|  | &nbsp;&nbsp;&nbsp; 20971550 |
| **Corporate Bonds & Notes—0.9%** | **Corporate Bonds & Notes—0.9%** | **Corporate Bonds & Notes—0.9%** |
| **Banks — 0.2%** | **Banks — 0.2%** | **Banks — 0.2%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3M TSFR + 3.193%, 03/15/28 (g) | 1570000 | &nbsp;&nbsp;&nbsp; 1586102 |
| Nykredit Realkredit AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/01/53 (DKK) | 9494 | &nbsp;&nbsp;&nbsp; 1109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/01/52 (DKK) | 283055 | &nbsp;&nbsp;&nbsp; 34942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/01/53 (DKK) | 497874 | &nbsp;&nbsp;&nbsp; 53530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/47 (DKK) | 4855 | &nbsp;&nbsp;&nbsp; 713 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 1Y EUR Swap + 0.770%, 01/14/28 (EUR) (g) | 100000 | &nbsp;&nbsp;&nbsp; 114615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 1Y EUR Swap + 1.050%, 06/24/27 (EUR) (g) | 100000 | &nbsp;&nbsp;&nbsp; 116234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 1Y UKG + 1.550%, 11/15/29 (GBP) (g) | 100000 | &nbsp;&nbsp;&nbsp; 124944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 1Y UKG + 4.200%, 09/30/27 (GBP) (g) | 100000 | &nbsp;&nbsp;&nbsp; 137800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 1Y EUR Swap + 4.950%, 03/01/29 (EUR) (g) | 100000 | &nbsp;&nbsp;&nbsp; 130883 |
|  |  | &nbsp;&nbsp;&nbsp; 2300872 |
| **Commercial Services — 0.5%** | **Commercial Services — 0.5%** | **Commercial Services — 0.5%** |
| Beignet Investor LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.581%, 05/30/49 (144A) | 7400000 | &nbsp;&nbsp;&nbsp; 7400000 |
| **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.528%, 11/18/27 (144A) | 51000 | &nbsp;&nbsp;&nbsp; 49034 |
| Credicorp Capital Sociedad Titulizadora SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.700%, 03/05/45 (144A) (PEN) | 900000 | &nbsp;&nbsp;&nbsp; 272544 |
| Jyske Realkredit AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/01/43 (DKK) | 49659 | &nbsp;&nbsp;&nbsp; 6461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/01/50 (DKK) | 6319115 | &nbsp;&nbsp;&nbsp; 778818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/01/53 (DKK) | 1730774 | &nbsp;&nbsp;&nbsp; 213791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/53 (DKK) | 7261823 | &nbsp;&nbsp;&nbsp; 864761 |

---

**BHFTI-246**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** | **Diversified Financial Services—(Continued)** |
| Jyske Realkredit AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/47 (DKK) | 3187 | &nbsp;&nbsp;&nbsp; $468 |
| Nordea Kredit Realkreditaktieselskab |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/01/53 (DKK) | 2559499 | &nbsp;&nbsp;&nbsp; 282758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/53 (DKK) | 4299311 | &nbsp;&nbsp;&nbsp; 514002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/53 (144A) (DKK) | 698819 | &nbsp;&nbsp;&nbsp; 92035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/47 (DKK) | 826 | &nbsp;&nbsp;&nbsp; 122 |
| Realkredit Danmark AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/01/53 (DKK) | 4027830 | &nbsp;&nbsp;&nbsp; 513596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/53 (DKK) | 563237 | &nbsp;&nbsp;&nbsp; 67339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/47 (DKK) | 7769 | &nbsp;&nbsp;&nbsp; 1141 |
|  |  | &nbsp;&nbsp;&nbsp; 3656870 |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 08/21/27 | 300000 | &nbsp;&nbsp;&nbsp; 298891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $14,412,664) <br>|  | &nbsp;&nbsp;&nbsp; 13656633 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Convertible Preferred Stocks—0.1%** | **Convertible Preferred Stocks—0.1%** | **Convertible Preferred Stocks—0.1%** |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co.- Series L, 7.500% <br>(Cost $900,000)<br>| 900 | &nbsp;&nbsp;&nbsp; 1110861 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—46.4%** | **Short-Term Investments—46.4%** | **Short-Term Investments—46.4%** |
| **Repurchase Agreements—46.4%** | **Repurchase Agreements—46.4%** | **Repurchase Agreements—46.4%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due <br> on 10/01/25, with a maturity value of $40,112,957; <br> collateralized by U.S. Treasury Note at 3.625%, <br> maturing 08/31/29, with a market value of <br> $40,911,860<br>| 40109615 | &nbsp;&nbsp;&nbsp; 40109615 |
| JPMorgan Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.240%, due <br> on 10/02/25, with a maturity value of $641,975,602; <br> collateralized by U.S. Treasury Obligations with rates <br> ranging from 1.125% - 4.500%, maturity dates ranging <br> from 05/31/29 - 01/15/33, and an aggregate market <br> value of $645,587,096<br>| 641900000 | &nbsp;&nbsp;&nbsp; 641900000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| JPMorgan Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.250%, due <br> on 10/01/25, with a maturity value of $2,500,295; <br> collateralized by U.S. Treasury Note at 4.500%, <br> maturing 05/31/29, with a market value of <br> $2,513,575<br>| 2500000 | &nbsp;&nbsp;&nbsp; $2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $684,509,615) <br>|  | &nbsp;&nbsp;&nbsp; 684509615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—174.6% <br>(Cost $2,699,896,897) <br>|  | &nbsp;&nbsp;&nbsp; 2575471850 |
| Other assets and liabilities (net)—(74.6)%  |  | &nbsp;&nbsp;&nbsp; (1100536266)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1474935584 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Principal amount of security is adjusted for inflation.

(b) All or a portion of this security has been transferred in a secured borrowing transaction.

(c) All or a portion of the security was pledged as collateral against open OTC derivative contracts. As of September 30, 2025, the market value of securities pledged was $1,625,537. 

(d) All or a portion of the security was pledged as collateral against open secured borrowing transactions. As of September 30, 2025, the market value of securities pledged was $877,907. 

(e) All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of September 30, 2025, the market value of securities pledged was $10,233,319. 

(f) All or a portion of the security was pledged as collateral against open futures contracts. As of September 30, 2025, the market value of securities pledged was $5,643,672. 

(g) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

(h) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date. 

(i) Security is a "step up" bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate. 

(j) All or a portion of the security was pledged as collateral against open reverse repurchase agreements. As of September 30, 2025, the market value of securities pledged was $22,156,457. 

(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025, the market value of 144A securities was $131,746,311, which is 8.9% of net assets. 

**TBA Forward Sale Commitments** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Interest** <br>**Rate**<br>| **Maturity** | **Face** <br> **Amount**<br>| **Cost** | **Value** |
| Uniform Mortgage-Backed Security, TBA | 5.500<br> %<br>| &nbsp;&nbsp;&nbsp; TBA | &nbsp;&nbsp;&nbsp; $(14000000)<br>| &nbsp;&nbsp;&nbsp; $(14125781)<br>| &nbsp;&nbsp;&nbsp; $(14106035)<br>|

---

**BHFTI-247**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Reverse Repurchase Agreements** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Interest** <br>**Rate**<br>| **Settlement** <br>**Date**<br>| **Maturity** <br>**Date**<br>| **Principal Amount** | **Principal Amount** | **Net Closing** <br>**Amount**<br>|
| Barclays Bank plc | 2.050<br> %<br>| &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; EUR | &nbsp;&nbsp; (18851255)<br>| &nbsp;&nbsp; $(22132328)<br>|

---

Securities pledged as collateral against open reverse repurchase agreements are noted in the Schedule of Investments.

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| BRL | &nbsp;&nbsp; 3936457 | BOA | 10/02/25 | USD | 720000 | &nbsp;&nbsp; $19623 |
| BRL | &nbsp;&nbsp; 15634451 | GSBU | 10/02/25 | USD | 2939580 | &nbsp;&nbsp; (2016)<br>|
| BRL | &nbsp;&nbsp; 3944707 | GSBU | 10/02/25 | USD | 720000 | &nbsp;&nbsp; 21173 |
| BRL | &nbsp;&nbsp; 75307889 | GSBU | 10/02/25 | USD | 13355541 | &nbsp;&nbsp; 794093 |
| BRL | &nbsp;&nbsp; 96236607 | GSBU | 12/02/25 | USD | 17780764 | &nbsp;&nbsp; 43470 |
| BRL | &nbsp;&nbsp; 3344244 | JPMC | 10/02/25 | USD | 613004 | &nbsp;&nbsp; 15347 |
| BRL | &nbsp;&nbsp; 8099485 | SG | 10/02/25 | USD | 1441664 | &nbsp;&nbsp; 80152 |
| CAD | &nbsp;&nbsp; 26150986 | CBNA | 10/02/25 | USD | 18763713 | &nbsp;&nbsp; 27870 |
| CHF | &nbsp;&nbsp; 3057890 | BBP | 10/02/25 | USD | 3813207 | &nbsp;&nbsp; 28123 |
| CHF | &nbsp;&nbsp; 2880043 | BBP | 11/04/25 | USD | 3622531 | &nbsp;&nbsp; 9809 |
| CHF | &nbsp;&nbsp; 515465 | CBNA | 11/04/25 | USD | 650317 | &nbsp;&nbsp; (208)<br>|
| CHF | &nbsp;&nbsp; 600000 | JPMC | 10/02/25 | USD | 761732 | &nbsp;&nbsp; (8011)<br>|
| DKK | &nbsp;&nbsp; 17884134 | JPMC | 10/02/25 | USD | 2809007 | &nbsp;&nbsp; 3826 |
| EUR | &nbsp;&nbsp; 19157000 | BBP | 10/02/25 | USD | 22576982 | &nbsp;&nbsp; (85694)<br>|
| EUR | &nbsp;&nbsp; 1507000 | JPMC | 10/02/25 | USD | 1769964 | &nbsp;&nbsp; (670)<br>|
| EUR | &nbsp;&nbsp; 40621539 | SG | 10/02/25 | USD | 47770930 | &nbsp;&nbsp; (79185)<br>|
| GBP | &nbsp;&nbsp; 838000 | BBP | 10/02/25 | USD | 1126448 | &nbsp;&nbsp; 578 |
| GBP | &nbsp;&nbsp; 3138000 | BBP | 10/02/25 | USD | 4219264 | &nbsp;&nbsp; 1031 |
| GBP | &nbsp;&nbsp; 1347199 | BBP | 11/04/25 | USD | 1819771 | &nbsp;&nbsp; (7605)<br>|
| GBP | &nbsp;&nbsp; 2628801 | JPMC | 11/04/25 | USD | 3535824 | &nbsp;&nbsp; 270 |
| IDR | &nbsp;&nbsp; 37725090276 | BNP | 10/15/25 | USD | 2288672 | &nbsp;&nbsp; (25164)<br>|
| IDR | &nbsp;&nbsp; 28367403646 | BNP | 10/15/25 | USD | 1715224 | &nbsp;&nbsp; (13178)<br>|
| IDR | &nbsp;&nbsp; 21006721265 | BNP | 10/15/25 | USD | 1271474 | &nbsp;&nbsp; (11070)<br>|
| IDR | &nbsp;&nbsp; 16273188516 | BNP | 12/17/25 | USD | 967246 | &nbsp;&nbsp; 8518 |
| IDR | &nbsp;&nbsp; 21418947456 | CBNA | 10/15/25 | USD | 1302222 | &nbsp;&nbsp; (17084)<br>|
| IDR | &nbsp;&nbsp; 16806130037 | CBNA | 12/17/25 | USD | 1000097 | &nbsp;&nbsp; 7623 |
| IDR | &nbsp;&nbsp; 362524252 | GSBU | 10/08/25 | USD | 21625 | &nbsp;&nbsp; 128 |
| IDR | &nbsp;&nbsp; 21609111260 | GSBU | 10/15/25 | USD | 1307464 | &nbsp;&nbsp; (10916)<br>|
| IDR | &nbsp;&nbsp; 16137575520 | GSBU | 12/17/25 | USD | 965166 | &nbsp;&nbsp; 2466 |
| IDR | &nbsp;&nbsp; 38863332600 | JPMC | 10/08/25 | USD | 2328540 | &nbsp;&nbsp; 3403 |
| IDR | &nbsp;&nbsp; 29853018520 | JPMC | 10/15/25 | USD | 1811030 | &nbsp;&nbsp; (19847)<br>|
| ILS | &nbsp;&nbsp; 1850000 | BOA | 10/15/25 | USD | 550205 | &nbsp;&nbsp; 8324 |
| ILS | &nbsp;&nbsp; 1203000 | BOA | 11/13/25 | USD | 359800 | &nbsp;&nbsp; 3412 |
| ILS | &nbsp;&nbsp; 3025000 | BNP | 11/13/25 | USD | 900068 | &nbsp;&nbsp; 13246 |
| ILS | &nbsp;&nbsp; 433000 | CBNA | 11/13/25 | USD | 130416 | &nbsp;&nbsp; 317 |
| ILS | &nbsp;&nbsp; 437000 | CBNA | 11/13/25 | USD | 130460 | &nbsp;&nbsp; 1480 |
| ILS | &nbsp;&nbsp; 6850547 | DBAG | 10/15/25 | USD | 2004960 | &nbsp;&nbsp; 63270 |
| ILS | &nbsp;&nbsp; 400000 | GSBU | 11/13/25 | USD | 119980 | &nbsp;&nbsp; 789 |
| ILS | &nbsp;&nbsp; 1976000 | JPMC | 10/15/25 | USD | 588554 | &nbsp;&nbsp; 8015 |
| ILS | &nbsp;&nbsp; 687845 | UBSA | 10/15/25 | USD | 201007 | &nbsp;&nbsp; 6659 |
| INR | &nbsp;&nbsp; 155407209 | BOA | 10/17/25 | USD | 1756907 | &nbsp;&nbsp; (8024)<br>|
| INR | &nbsp;&nbsp; 124055366 | CBNA | 10/17/25 | USD | 1420194 | &nbsp;&nbsp; (24131)<br>|
| INR | &nbsp;&nbsp; 138005206 | CBNA | 10/17/25 | USD | 1571212 | &nbsp;&nbsp; (18163)<br>|
| INR | &nbsp;&nbsp; 222863146 | CBNA | 10/17/25 | USD | 2525619 | &nbsp;&nbsp; (17617)<br>|
| INR | &nbsp;&nbsp; 137281990 | CBNA | 10/17/25 | USD | 1558588 | &nbsp;&nbsp; (13678)<br>|
| INR | &nbsp;&nbsp; 107271013 | CBNA | 11/19/25 | USD | 1205509 | &nbsp;&nbsp; (525)<br>|
| INR | &nbsp;&nbsp; 28247488 | DBAG | 10/08/25 | USD | 318210 | &nbsp;&nbsp; (170)<br>|

---

**BHFTI-248**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| INR | &nbsp;&nbsp; 235240505 | DBAG | 10/17/25 | USD | 2659843 | &nbsp;&nbsp; $(12552)<br>|
| INR | &nbsp;&nbsp; 158185337 | DBAG | 10/17/25 | USD | 1790318 | &nbsp;&nbsp; (10171)<br>|
| INR | &nbsp;&nbsp; 64680604 | DBAG | 11/19/25 | USD | 727116 | &nbsp;&nbsp; (553)<br>|
| INR | &nbsp;&nbsp; 108885680 | DBAG | 11/19/25 | USD | 1222782 | &nbsp;&nbsp; 340 |
| INR | &nbsp;&nbsp; 123443980 | GSBU | 10/17/25 | USD | 1406769 | &nbsp;&nbsp; (17586)<br>|
| INR | &nbsp;&nbsp; 236981582 | UBSA | 10/17/25 | USD | 2683990 | &nbsp;&nbsp; (17106)<br>|
| JPY | &nbsp;&nbsp; 62494806 | BOA | 10/02/25 | USD | 417244 | &nbsp;&nbsp; 5347 |
| JPY | &nbsp;&nbsp; 72403331 | BNP | 10/02/25 | USD | 487302 | &nbsp;&nbsp; 2290 |
| JPY | &nbsp;&nbsp; 1368916894 | MSIP | 10/02/25 | USD | 9169515 | &nbsp;&nbsp; 87116 |
| JPY | &nbsp;&nbsp; 2981156217 | SG | 10/02/25 | USD | 20034652 | &nbsp;&nbsp; 123959 |
| KRW | &nbsp;&nbsp; 957845198 | BOA | 10/22/25 | USD | 691835 | &nbsp;&nbsp; (8509)<br>|
| KRW | &nbsp;&nbsp; 1748880000 | BNP | 10/10/25 | USD | 1260000 | &nbsp;&nbsp; (13098)<br>|
| KRW | &nbsp;&nbsp; 1953381587 | BNP | 10/20/25 | USD | 1420000 | &nbsp;&nbsp; (26599)<br>|
| KRW | &nbsp;&nbsp; 957354193 | BNP | 10/22/25 | USD | 691611 | &nbsp;&nbsp; (8635)<br>|
| KRW | &nbsp;&nbsp; 1953381587 | GSBU | 10/22/25 | USD | 1383261 | &nbsp;&nbsp; 10280 |
| KRW | &nbsp;&nbsp; 1748880000 | JPMC | 10/22/25 | USD | 1254095 | &nbsp;&nbsp; (6446)<br>|
| MXN | &nbsp;&nbsp; 3310000 | BNP | 12/17/25 | USD | 178593 | &nbsp;&nbsp; 690 |
| MXN | &nbsp;&nbsp; 52647898 | UBSA | 12/17/25 | USD | 2794919 | &nbsp;&nbsp; 56710 |
| NOK | &nbsp;&nbsp; 180 | BBP | 10/02/25 | USD | 18 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 77121 | BBP | 10/02/25 | USD | 7728 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 7618938 | CBNA | 10/02/25 | USD | 763788 | &nbsp;&nbsp; (333)<br>|
| NOK | &nbsp;&nbsp; 2336 | MSIP | 10/02/25 | USD | 234 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 257749 | SG | 10/02/25 | USD | 25840 | &nbsp;&nbsp; (12)<br>|
| NZD | &nbsp;&nbsp; 146586 | BOA | 10/02/25 | USD | 84404 | &nbsp;&nbsp; 579 |
| PLN | &nbsp;&nbsp; 216403 | BOA | 10/15/25 | USD | 59788 | &nbsp;&nbsp; (259)<br>|
| PLN | &nbsp;&nbsp; 1042000 | BOA | 10/22/25 | USD | 289776 | &nbsp;&nbsp; (3170)<br>|
| PLN | &nbsp;&nbsp; 1264173 | BBP | 10/15/25 | USD | 345741 | &nbsp;&nbsp; 2008 |
| PLN | &nbsp;&nbsp; 12121972 | BNP | 10/22/25 | USD | 3336559 | &nbsp;&nbsp; (2357)<br>|
| PLN | &nbsp;&nbsp; 6053210 | BNP | 10/22/25 | USD | 1660342 | &nbsp;&nbsp; 4620 |
| PLN | &nbsp;&nbsp; 837274 | JPMC | 10/15/25 | USD | 227841 | &nbsp;&nbsp; 2477 |
| PLN | &nbsp;&nbsp; 6283290 | MSIP | 10/22/25 | USD | 1735700 | &nbsp;&nbsp; (7453)<br>|
| PLN | &nbsp;&nbsp; 6279601 | UBSA | 10/22/25 | USD | 1729850 | &nbsp;&nbsp; (2618)<br>|
| SEK | &nbsp;&nbsp; 13540000 | JPMC | 10/02/25 | USD | 1432036 | &nbsp;&nbsp; 6187 |
| SGD | &nbsp;&nbsp; 22707939 | CBNA | 10/02/25 | USD | 17597542 | &nbsp;&nbsp; 6193 |
| SGD | &nbsp;&nbsp; 17622 | UBSA | 11/04/25 | USD | 13698 | &nbsp;&nbsp; (1)<br>|
| THB | &nbsp;&nbsp; 15834595 | GSBU | 10/20/25 | USD | 490000 | &nbsp;&nbsp; (646)<br>|
| THB | &nbsp;&nbsp; 15828078 | UBSA | 10/20/25 | USD | 490000 | &nbsp;&nbsp; (847)<br>|
| TWD | &nbsp;&nbsp; 27825897 | CBNA | 10/07/25 | USD | 913103 | &nbsp;&nbsp; 265 |
| TWD | &nbsp;&nbsp; 25895815 | CBNA | 10/20/25 | USD | 853802 | &nbsp;&nbsp; (2943)<br>|
| TWD | &nbsp;&nbsp; 26102258 | CBNA | 10/20/25 | USD | 855924 | &nbsp;&nbsp; 1718 |
| TWD | &nbsp;&nbsp; 8854353 | JPMC | 10/20/25 | USD | 291559 | &nbsp;&nbsp; (632)<br>|
| TWD | &nbsp;&nbsp; 44564645 | MSIP | 10/20/25 | USD | 1479177 | &nbsp;&nbsp; (14917)<br>|
| ZAR | &nbsp;&nbsp; 16917062 | BBP | 10/20/25 | USD | 959915 | &nbsp;&nbsp; 18437 |
| ZAR | &nbsp;&nbsp; 19311393 | BBP | 10/20/25 | USD | 1093913 | &nbsp;&nbsp; 22909 |
| ZAR | &nbsp;&nbsp; 8167865 | JPMC | 10/20/25 | USD | 461755 | &nbsp;&nbsp; 10611 |
| ZAR | &nbsp;&nbsp; 13368992 | UBSA | 10/02/25 | USD | 773834 | &nbsp;&nbsp; 282 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| AUD | &nbsp;&nbsp; 18428000 | BBP | 11/04/25 | USD | 12181822 | &nbsp;&nbsp; (17739)<br>|
| AUD | &nbsp;&nbsp; 17598000 | CBNA | 10/02/25 | USD | 11504728 | &nbsp;&nbsp; (139868)<br>|
| AUD | &nbsp;&nbsp; 830000 | JPMC | 10/02/25 | USD | 541573 | &nbsp;&nbsp; (7638)<br>|
| BRL | &nbsp;&nbsp; 3936457 | BOA | 10/02/25 | USD | 740130 | &nbsp;&nbsp; 508 |
| BRL | &nbsp;&nbsp; 94887047 | GSBU | 10/02/25 | USD | 17780764 | &nbsp;&nbsp; (47607)<br>|
| BRL | &nbsp;&nbsp; 3344244 | JPMC | 10/02/25 | USD | 628783 | &nbsp;&nbsp; 431 |
| BRL | &nbsp;&nbsp; 4005571 | JPMC | 11/04/25 | USD | 747000 | &nbsp;&nbsp; 425 |
| BRL | &nbsp;&nbsp; 8099485 | SG | 10/02/25 | USD | 1522860 | &nbsp;&nbsp; 1044 |
| CAD | &nbsp;&nbsp; 13984 | BBP | 10/02/25 | USD | 10177 | &nbsp;&nbsp; 128 |
| CAD | &nbsp;&nbsp; 26109612 | CBNA | 11/04/25 | USD | 18763713 | &nbsp;&nbsp; (27817)<br>|

---

**BHFTI-249**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| CAD | &nbsp;&nbsp; 26111446 | JPMC | 10/02/25 | USD | 18894857 | &nbsp;&nbsp; $131688 |
| CAD | &nbsp;&nbsp; 23680 | UBSA | 10/02/25 | USD | 17122 | &nbsp;&nbsp; 106 |
| CHF | &nbsp;&nbsp; 2891508 | BBP | 10/02/25 | USD | 3622531 | &nbsp;&nbsp; (9788)<br>|
| CHF | &nbsp;&nbsp; 120730 | GSBU | 10/02/25 | USD | 150983 | &nbsp;&nbsp; (679)<br>|
| CHF | &nbsp;&nbsp; 128000 | JPMC | 10/02/25 | USD | 160456 | &nbsp;&nbsp; (338)<br>|
| CNH | &nbsp;&nbsp; 17497661 | BNP | 10/16/25 | USD | 2456819 | &nbsp;&nbsp; 952 |
| CNH | &nbsp;&nbsp; 9074000 | CBNA | 10/16/25 | USD | 1277682 | &nbsp;&nbsp; 4110 |
| CNH | &nbsp;&nbsp; 18683103 | DBAG | 10/16/25 | USD | 2624658 | &nbsp;&nbsp; 2410 |
| CNH | &nbsp;&nbsp; 25877387 | DBAG | 10/16/25 | USD | 3643481 | &nbsp;&nbsp; 11486 |
| CNH | &nbsp;&nbsp; 34910664 | GSBU | 10/16/25 | USD | 4911570 | &nbsp;&nbsp; 11719 |
| CNH | &nbsp;&nbsp; 19262830 | MSIP | 10/16/25 | USD | 2707057 | &nbsp;&nbsp; 3442 |
| DKK | &nbsp;&nbsp; 17882983 | CBNA | 10/02/25 | USD | 2792841 | &nbsp;&nbsp; (19811)<br>|
| DKK | &nbsp;&nbsp; 17843020 | JPMC | 11/04/25 | USD | 2809007 | &nbsp;&nbsp; (3878)<br>|
| EUR | &nbsp;&nbsp; 746000 | BBP | 10/02/25 | USD | 873327 | &nbsp;&nbsp; (2515)<br>|
| EUR | &nbsp;&nbsp; 59645539 | JPMC | 10/02/25 | USD | 69757563 | &nbsp;&nbsp; (269321)<br>|
| EUR | &nbsp;&nbsp; 894000 | MSIP | 10/02/25 | USD | 1043478 | &nbsp;&nbsp; (6123)<br>|
| EUR | &nbsp;&nbsp; 40621539 | SG | 11/04/25 | USD | 47866756 | &nbsp;&nbsp; 79569 |
| GBP | &nbsp;&nbsp; 1347199 | BBP | 10/02/25 | USD | 1819488 | &nbsp;&nbsp; 7641 |
| IDR | &nbsp;&nbsp; 370933640 | BBP | 10/15/25 | USD | 22593 | &nbsp;&nbsp; 337 |
| IDR | &nbsp;&nbsp; 4487316251 | BNP | 10/08/25 | USD | 272173 | &nbsp;&nbsp; 2917 |
| IDR | &nbsp;&nbsp; 13712565561 | BNP | 10/08/25 | USD | 831979 | &nbsp;&nbsp; 9174 |
| IDR | &nbsp;&nbsp; 21025975040 | BNP | 10/08/25 | USD | 1275848 | &nbsp;&nbsp; 14212 |
| IDR | &nbsp;&nbsp; 16226518896 | BNP | 10/15/25 | USD | 967246 | &nbsp;&nbsp; (6346)<br>|
| IDR | &nbsp;&nbsp; 10545436352 | BNP | 10/20/25 | USD | 640000 | &nbsp;&nbsp; 7302 |
| IDR | &nbsp;&nbsp; 9367304800 | BNP | 11/03/25 | USD | 560000 | &nbsp;&nbsp; (1943)<br>|
| IDR | &nbsp;&nbsp; 16758625429 | CBNA | 10/15/25 | USD | 1000097 | &nbsp;&nbsp; (5422)<br>|
| IDR | &nbsp;&nbsp; 19070494275 | CBNA | 10/15/25 | USD | 1163722 | &nbsp;&nbsp; 19491 |
| IDR | &nbsp;&nbsp; 19495176348 | DBAG | 10/15/25 | USD | 1189492 | &nbsp;&nbsp; 19780 |
| IDR | &nbsp;&nbsp; 16098968880 | GSBU | 10/15/25 | USD | 965166 | &nbsp;&nbsp; (773)<br>|
| IDR | &nbsp;&nbsp; 362524252 | GSBU | 12/17/25 | USD | 21553 | &nbsp;&nbsp; (184)<br>|
| IDR | &nbsp;&nbsp; 38879632380 | JPMC | 10/15/25 | USD | 2328540 | &nbsp;&nbsp; (4240)<br>|
| ILS | &nbsp;&nbsp; 6847039 | DBAG | 11/13/25 | USD | 2004960 | &nbsp;&nbsp; (62311)<br>|
| ILS | &nbsp;&nbsp; 5366706 | UBSA | 10/15/25 | USD | 1604228 | &nbsp;&nbsp; (16019)<br>|
| ILS | &nbsp;&nbsp; 5998210 | UBSA | 10/15/25 | USD | 1802455 | &nbsp;&nbsp; (8448)<br>|
| ILS | &nbsp;&nbsp; 687499 | UBSA | 11/13/25 | USD | 201007 | &nbsp;&nbsp; (6564)<br>|
| INR | &nbsp;&nbsp; 56081718 | BOA | 11/03/25 | USD | 630000 | &nbsp;&nbsp; (566)<br>|
| INR | &nbsp;&nbsp; 107061254 | CBNA | 10/17/25 | USD | 1205509 | &nbsp;&nbsp; 690 |
| INR | &nbsp;&nbsp; 108668636 | DBAG | 10/17/25 | USD | 1222782 | &nbsp;&nbsp; (126)<br>|
| INR | &nbsp;&nbsp; 64553358 | DBAG | 10/17/25 | USD | 727116 | &nbsp;&nbsp; 661 |
| INR | &nbsp;&nbsp; 28318194 | DBAG | 11/19/25 | USD | 318210 | &nbsp;&nbsp; 110 |
| INR | &nbsp;&nbsp; 28230400 | GSBU | 10/08/25 | USD | 320000 | &nbsp;&nbsp; 2152 |
| INR | &nbsp;&nbsp; 50149170 | GSBU | 10/20/25 | USD | 570000 | &nbsp;&nbsp; 5731 |
| JPY | &nbsp;&nbsp; 229925715 | BOA | 10/02/25 | USD | 1567098 | &nbsp;&nbsp; 12338 |
| JPY | &nbsp;&nbsp; 62278423 | BOA | 11/04/25 | USD | 417244 | &nbsp;&nbsp; (5348)<br>|
| JPY | &nbsp;&nbsp; 38927161 | BBP | 10/02/25 | USD | 265025 | &nbsp;&nbsp; 1799 |
| JPY | &nbsp;&nbsp; 124598868 | BBP | 10/02/25 | USD | 848876 | &nbsp;&nbsp; 6337 |
| JPY | &nbsp;&nbsp; 72151883 | BNP | 11/04/25 | USD | 487302 | &nbsp;&nbsp; (2287)<br>|
| JPY | &nbsp;&nbsp; 3900 | CBNA | 11/04/25 | USD | 27 | &nbsp;&nbsp; — |
| JPY | &nbsp;&nbsp; 149297190 | MSIP | 10/02/25 | USD | 1011781 | &nbsp;&nbsp; 2232 |
| JPY | &nbsp;&nbsp; 1364178088 | MSIP | 11/04/25 | USD | 9169515 | &nbsp;&nbsp; (87155)<br>|
| JPY | &nbsp;&nbsp; 61634475 | MSIP | 11/04/25 | USD | 417981 | &nbsp;&nbsp; (242)<br>|
| JPY | &nbsp;&nbsp; 4004108323 | SG | 10/02/25 | USD | 27227367 | &nbsp;&nbsp; 151542 |
| JPY | &nbsp;&nbsp; 2970846385 | SG | 11/04/25 | USD | 20034652 | &nbsp;&nbsp; (124112)<br>|
| KRW | &nbsp;&nbsp; 3214680282 | DBAG | 10/22/25 | USD | 2318541 | &nbsp;&nbsp; 25191 |
| KRW | &nbsp;&nbsp; 1953381587 | GSBU | 10/20/25 | USD | 1383115 | &nbsp;&nbsp; (10287)<br>|
| KRW | &nbsp;&nbsp; 490581000 | GSBU | 11/03/25 | USD | 350000 | &nbsp;&nbsp; (190)<br>|
| KRW | &nbsp;&nbsp; 1748880000 | JPMC | 10/10/25 | USD | 1253381 | &nbsp;&nbsp; 6479 |

---

**BHFTI-250**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| KRW | &nbsp;&nbsp; 5563934003 | JPMC | 10/22/25 | USD | 4013398 | &nbsp;&nbsp; $44093 |
| MXN | &nbsp;&nbsp; 1492000 | GSBU | 12/17/25 | USD | 78585 | &nbsp;&nbsp; (2228)<br>|
| MXN | &nbsp;&nbsp; 5480390 | UBSA | 12/17/25 | USD | 287491 | &nbsp;&nbsp; (9349)<br>|
| NOK | &nbsp;&nbsp; 180 | BBP | 11/04/25 | USD | 18 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 77106 | BBP | 11/04/25 | USD | 7728 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 595200 | CBNA | 10/02/25 | USD | 58929 | &nbsp;&nbsp; (713)<br>|
| NOK | &nbsp;&nbsp; 7617281 | CBNA | 11/04/25 | USD | 763788 | &nbsp;&nbsp; 338 |
| NOK | &nbsp;&nbsp; 2335 | MSIP | 11/04/25 | USD | 234 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 257694 | SG | 11/04/25 | USD | 25840 | &nbsp;&nbsp; 12 |
| NOK | &nbsp;&nbsp; 7360588 | UBSA | 10/02/25 | USD | 723279 | &nbsp;&nbsp; (14288)<br>|
| NZD | &nbsp;&nbsp; 146586 | BOA | 11/04/25 | USD | 84511 | &nbsp;&nbsp; (581)<br>|
| NZD | &nbsp;&nbsp; 189566 | SG | 10/02/25 | USD | 110446 | &nbsp;&nbsp; 546 |
| PEN | &nbsp;&nbsp; 902891 | BBP | 10/07/25 | USD | 253450 | &nbsp;&nbsp; (6558)<br>|
| SEK | &nbsp;&nbsp; 17054097 | BBP | 10/02/25 | USD | 1801733 | &nbsp;&nbsp; (9758)<br>|
| SGD | &nbsp;&nbsp; 4423136 | BOA | 10/02/25 | USD | 3440951 | &nbsp;&nbsp; 12030 |
| SGD | &nbsp;&nbsp; 2301464 | BNP | 10/02/25 | USD | 1796174 | &nbsp;&nbsp; 12024 |
| SGD | &nbsp;&nbsp; 587000 | CBNA | 10/02/25 | USD | 459407 | &nbsp;&nbsp; 4351 |
| SGD | &nbsp;&nbsp; 4598000 | CBNA | 10/02/25 | USD | 3573284 | &nbsp;&nbsp; 8805 |
| SGD | &nbsp;&nbsp; 10536671 | CBNA | 10/02/25 | USD | 8231806 | &nbsp;&nbsp; 63528 |
| SGD | &nbsp;&nbsp; 22649110 | CBNA | 11/04/25 | USD | 17597542 | &nbsp;&nbsp; (6570)<br>|
| SGD | &nbsp;&nbsp; 244000 | GSBU | 10/02/25 | USD | 190429 | &nbsp;&nbsp; 1275 |
| THB | &nbsp;&nbsp; 20323380 | CBNA | 10/20/25 | USD | 629823 | &nbsp;&nbsp; 1747 |
| TWD | &nbsp;&nbsp; 27877031 | BNP | 10/07/25 | USD | 910000 | &nbsp;&nbsp; (5047)<br>|
| TWD | &nbsp;&nbsp; 24957274 | BNP | 10/20/25 | USD | 820000 | &nbsp;&nbsp; (21)<br>|
| TWD | &nbsp;&nbsp; 60285432 | BNP | 10/20/25 | USD | 2010000 | &nbsp;&nbsp; 29202 |
| TWD | &nbsp;&nbsp; 53382144 | BNP | 10/20/25 | USD | 1790026 | &nbsp;&nbsp; 36049 |
| TWD | &nbsp;&nbsp; 56531933 | BNP | 10/20/25 | USD | 1900872 | &nbsp;&nbsp; 43403 |
| TWD | &nbsp;&nbsp; 17046052 | BNP | 12/15/25 | USD | 567994 | &nbsp;&nbsp; 5654 |
| TWD | &nbsp;&nbsp; 5228855 | CBNA | 10/20/25 | USD | 175524 | &nbsp;&nbsp; 3719 |
| TWD | &nbsp;&nbsp; 44235448 | CBNA | 10/20/25 | USD | 1490915 | &nbsp;&nbsp; 37471 |
| TWD | &nbsp;&nbsp; 59422030 | CBNA | 10/20/25 | USD | 1996708 | &nbsp;&nbsp; 44279 |
| TWD | &nbsp;&nbsp; 49957198 | CBNA | 10/20/25 | USD | 1692489 | &nbsp;&nbsp; 51046 |
| TWD | &nbsp;&nbsp; 58340657 | CBNA | 10/20/25 | USD | 1978320 | &nbsp;&nbsp; 61421 |
| TWD | &nbsp;&nbsp; 96217366 | CBNA | 10/20/25 | USD | 3237244 | &nbsp;&nbsp; 75830 |
| TWD | &nbsp;&nbsp; 25948192 | CBNA | 12/15/25 | USD | 855924 | &nbsp;&nbsp; (92)<br>|
| TWD | &nbsp;&nbsp; 25744692 | CBNA | 12/15/25 | USD | 853802 | &nbsp;&nbsp; 4499 |
| TWD | &nbsp;&nbsp; 27545575 | CBNA | 01/22/26 | USD | 913103 | &nbsp;&nbsp; 2074 |
| TWD | &nbsp;&nbsp; 44274726 | MSIP | 12/15/25 | USD | 1479177 | &nbsp;&nbsp; 18579 |
| ZAR | &nbsp;&nbsp; 5172007 | BBP | 11/20/25 | USD | 293737 | &nbsp;&nbsp; (4715)<br>|
| ZAR | &nbsp;&nbsp; 13369611 | CBNA | 10/02/25 | USD | 772025 | &nbsp;&nbsp; (2128)<br>|
| ZAR | &nbsp;&nbsp; 5881093 | DBAG | 11/20/25 | USD | 334172 | &nbsp;&nbsp; (5198)<br>|
| ZAR | &nbsp;&nbsp; 5547770 | JPMC | 11/20/25 | USD | 314503 | &nbsp;&nbsp; (5633)<br>|
| ZAR | &nbsp;&nbsp; 13375314 | UBSA | 10/09/25 | USD | 773834 | &nbsp;&nbsp; (280)<br>|
| ZAR | &nbsp;&nbsp; 5625839 | UBSA | 11/20/25 | USD | 319135 | &nbsp;&nbsp; (5506)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp; $1147393 |

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Euro-BTP Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 195 | EUR | 23368800 | &nbsp;&nbsp;&nbsp; $251453 |
| Euro-Buxl 30 Year Bond Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 3 | EUR | 343440 | &nbsp;&nbsp;&nbsp; 9154 |
| Euro-Schatz Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 345 | EUR | 36908100 | &nbsp;&nbsp;&nbsp; (52611)<br>|
| Japanese Government 10 Year Bond Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; 2 | JPY | 271580000 | &nbsp;&nbsp;&nbsp; (17890)<br>|

---

**BHFTI-251**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Futures Contracts — (Continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration**<br> **Date**<br>| **Number of**<br> **Contracts**<br>| **Notional**<br> **Value** | **Notional**<br> **Value** | **Value/**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 1342 | USD | 154434844 | &nbsp;&nbsp;&nbsp; $1044990 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 974 | USD | 116940875 | &nbsp;&nbsp;&nbsp; 2602499 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| Euro-Bobl Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (9)<br>| EUR | (1060290)<br>| &nbsp;&nbsp;&nbsp; 2468 |
| Euro-Bund Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (193)<br>| EUR | (24814010)<br>| &nbsp;&nbsp;&nbsp; (172423)<br>|
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (413)<br>| EUR | (50117550)<br>| &nbsp;&nbsp;&nbsp; (453920)<br>|
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (1782)<br>| USD | (207770063)<br>| &nbsp;&nbsp;&nbsp; (4448551)<br>|
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (1329)<br>| USD | (276961524)<br>| &nbsp;&nbsp;&nbsp; (264351)<br>|
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (290)<br>| USD | (31666641)<br>| &nbsp;&nbsp;&nbsp; 13926 |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (361)<br>| USD | (40612500)<br>| &nbsp;&nbsp;&nbsp; (168539)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp;&nbsp; $(1653795)<br>|

---

**Written Options** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaptions** | **Strike** <br>**Rate**<br>| **Floating** <br>**Rate Index**<br>| **Pay/Receive** <br>**Floating** <br> **Rate**<br>| **Expiration** <br>**Date**<br>| **Counterparty** | **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Received**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Call - OTC - 2 Yr. IRS | 2.350% | 6M EURIBOR | Receive | 01/07/27 | GSBU | (20500000)<br>| EUR | (20500000)<br>| $(186049)<br>| $(108760)<br>| $77289 |
| Call - OTC - 2 Yr. IRS | 2.440% | 6M EURIBOR | Receive | 01/25/27 | BBP | (5400000)<br>| EUR | (5400000)<br>| (48033)<br>| (33397)<br>| 14636 |
| Call - OTC - 2 Yr. IRS | 2.500% | 6M EURIBOR | Receive | 01/14/27 | GSBU | (33900000)<br>| EUR | (33900000)<br>| (310822)<br>| (244259)<br>| 66563 |
| Put - OTC - 2 Yr. IRS | 2.350% | 6M EURIBOR | Pay | 01/07/27 | GSBU | (20500000)<br>| EUR | (20500000)<br>| (186049)<br>| (109043)<br>| 77006 |
| Put - OTC - 2 Yr. IRS | 2.440% | 6M EURIBOR | Pay | 01/25/27 | BBP | (5400000)<br>| EUR | (5400000)<br>| (48033)<br>| (23702)<br>| 24331 |
| Put - OTC - 2 Yr. IRS | 2.500% | 6M EURIBOR | Pay | 01/14/27 | GSBU | (33900000)<br>| EUR | (33900000)<br>| (310821)<br>| (134582)<br>| 176239 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $(1089807)<br>| $(653743)<br>| $436064 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation Capped Options** | **Initial** <br>**Index**<br>| **Exercise Index** | **Expiration** <br>**Date**<br>| **Counterparty** | **Number** <br> **of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Received**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Cap - CPALEMU Index | 100.152 | Maximum of [(Final Index/Initial <br> Index - 1) - 3.000%] or 0 | 06/22/35 | GSBU | (8700000)<br>| EUR | (8700000)<br>| $(382245)<br>| $(79886)<br>| $302359 |

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 12M CPURNSA | Maturity | 1.760<br> %<br>| Maturity | 11/04/29 | USD | 24500000 | &nbsp;&nbsp; $(4531669)<br>| &nbsp;&nbsp; $(17106)<br>| &nbsp;&nbsp; $(4514563)<br>|
| Pay | 12M CPURNSA | Maturity | 1.954<br> %<br>| Maturity | 06/03/29 | USD | 8650000 | &nbsp;&nbsp; (1419258)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1419258)<br>|
| Pay | 12M CPURNSA | Maturity | 1.998<br> %<br>| Maturity | 07/25/29 | USD | 21500000 | &nbsp;&nbsp; (3389427)<br>| &nbsp;&nbsp; 3600 | &nbsp;&nbsp; (3393027)<br>|
| Pay | 12M CPURNSA | Maturity | 2.208<br> %<br>| Maturity | 10/07/25 | USD | 16538000 | &nbsp;&nbsp; (88850)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (88850)<br>|
| Pay | 12M CPURNSA | Maturity | 2.335<br> %<br>| Maturity | 02/05/28 | USD | 13090000 | &nbsp;&nbsp; (1587602)<br>| &nbsp;&nbsp; 28402 | &nbsp;&nbsp; (1616004)<br>|
| Pay | 12M CPURNSA | Maturity | 2.370<br> %<br>| Maturity | 06/06/28 | USD | 6400000 | &nbsp;&nbsp; (741872)<br>| &nbsp;&nbsp; (1137)<br>| &nbsp;&nbsp; (740735)<br>|
| Pay | 12M CPURNSA | Maturity | 2.380<br> %<br>| Maturity | 10/15/25 | USD | 13700000 | &nbsp;&nbsp; (57412)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (57412)<br>|
| Pay | 12M CPURNSA | Maturity | 2.700<br> %<br>| Maturity | 01/14/26 | USD | 12700000 | &nbsp;&nbsp; (52361)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (52361)<br>|
| Pay | 12M CPURNSA | Maturity | 2.820<br> %<br>| Maturity | 02/05/26 | USD | 5600000 | &nbsp;&nbsp; (18618)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (18618)<br>|
| Pay | 12M CPURNSA | Maturity | 2.842<br> %<br>| Maturity | 02/13/26 | USD | 5900000 | &nbsp;&nbsp; (18727)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (18727)<br>|
| Pay | 12M CPURNSA | Maturity | 3.043<br> %<br>| Maturity | 02/21/26 | USD | 7600000 | &nbsp;&nbsp; (9692)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (9692)<br>|
| Pay | 12M CPURNSA | Maturity | 3.300<br> %<br>| Maturity | 06/04/26 | USD | 7300000 | &nbsp;&nbsp; 2705 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2705 |
| Pay | 12M CPURNSA | Maturity | 3.323<br> %<br>| Maturity | 04/23/26 | USD | 6200000 | &nbsp;&nbsp; 16026 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16026 |
| Pay | 12M CPURNSA | Maturity | 3.434<br> %<br>| Maturity | 08/27/26 | USD | 14900000 | &nbsp;&nbsp; 28662 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28662 |
| Pay | 12M CPURNSA | Maturity | 3.435<br> %<br>| Maturity | 08/01/26 | USD | 14900000 | &nbsp;&nbsp; 15174 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15174 |

---

**BHFTI-252**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Centrally Cleared Interest Rate Swap Contracts — (Continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive**<br> **Floating Rate** <br>| **Floating**<br> **Rate Index** <br>| **Payment**<br> **Frequency** <br>| **Fixed**<br> **Rate** <br>| **Payment**<br> **Frequency** <br>| **Maturity**<br> **Date** <br>| **Notional**<br> **Amount**  | **Notional**<br> **Amount**  | **Market**<br> **Value** <br>| **Upfront**<br> **Premiums**<br> **Paid/(Received)** <br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** <br>|
| Pay | 12M FRCPXT | Maturity | 1.410<br> %<br>| Maturity | 11/15/39 | EUR | 600000 | &nbsp;&nbsp; $(103556)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(103556)<br>|
| Pay | 12M FRCPXT | Maturity | 1.910<br> %<br>| Maturity | 01/15/38 | EUR | 350000 | &nbsp;&nbsp; (14084)<br>| &nbsp;&nbsp; 2830 | &nbsp;&nbsp; (16914)<br>|
| Pay | 12M HICP | Maturity | 1.380<br> %<br>| Maturity | 03/15/31 | EUR | 7040000 | &nbsp;&nbsp; (1490371)<br>| &nbsp;&nbsp; (65196)<br>| &nbsp;&nbsp; (1425175)<br>|
| Pay | 12M HICP | Maturity | 2.421<br> %<br>| Maturity | 05/15/52 | EUR | 650000 | &nbsp;&nbsp; 5242 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5242 |
| Pay | 12M HICP | Maturity | 2.488<br> %<br>| Maturity | 05/15/37 | EUR | 60000 | &nbsp;&nbsp; 359 | &nbsp;&nbsp; 121 | &nbsp;&nbsp; 238 |
| Pay | 12M HICP | Maturity | 2.550<br> %<br>| Maturity | 04/15/52 | EUR | 400000 | &nbsp;&nbsp; 17962 | &nbsp;&nbsp; 512 | &nbsp;&nbsp; 17450 |
| Pay | 12M HICP | Maturity | 2.580<br> %<br>| Maturity | 03/15/52 | EUR | 1000000 | &nbsp;&nbsp; 44659 | &nbsp;&nbsp; 717 | &nbsp;&nbsp; 43942 |
| Pay | 12M HICP | Maturity | 2.590<br> %<br>| Maturity | 03/15/52 | EUR | 1400000 | &nbsp;&nbsp; 67294 | &nbsp;&nbsp; (36516)<br>| &nbsp;&nbsp; 103810 |
| Pay | 12M HICP | Maturity | 2.590<br> %<br>| Maturity | 12/15/52 | EUR | 2300000 | &nbsp;&nbsp; 253667 | &nbsp;&nbsp; — | &nbsp;&nbsp; 253667 |
| Pay | 12M HICP | Maturity | 2.682<br> %<br>| Maturity | 10/15/53 | EUR | 1100000 | &nbsp;&nbsp; 167321 | &nbsp;&nbsp; — | &nbsp;&nbsp; 167321 |
| Pay | 12M HICP | Maturity | 2.700<br> %<br>| Maturity | 04/15/53 | EUR | 3100000 | &nbsp;&nbsp; 486017 | &nbsp;&nbsp; 20720 | &nbsp;&nbsp; 465297 |
| Pay | 12M HICP | Maturity | 2.736<br> %<br>| Maturity | 10/15/53 | EUR | 1600000 | &nbsp;&nbsp; 272547 | &nbsp;&nbsp; 14422 | &nbsp;&nbsp; 258125 |
| Pay | 12M HICP | Maturity | 2.763<br> %<br>| Maturity | 09/15/53 | EUR | 800000 | &nbsp;&nbsp; 143650 | &nbsp;&nbsp; 5914 | &nbsp;&nbsp; 137736 |
| Pay | 12M SONIA | Annually | 3.750<br> %<br>| Annually | 09/17/30 | GBP | 54900000 | &nbsp;&nbsp; (293132)<br>| &nbsp;&nbsp; (264557)<br>| &nbsp;&nbsp; (28575)<br>|
| Pay | 12M UKRPI | Maturity | 3.466<br> %<br>| Maturity | 09/15/34 | GBP | 3000000 | &nbsp;&nbsp; 41034 | &nbsp;&nbsp; — | &nbsp;&nbsp; 41034 |
| Pay | 12M UKRPI | Maturity | 3.500<br> %<br>| Maturity | 08/15/34 | GBP | 7200000 | &nbsp;&nbsp; 134309 | &nbsp;&nbsp; 40810 | &nbsp;&nbsp; 93499 |
| Pay | 3M SOFR | Semi-Annually | 2.340<br> %<br>| Semi-Annually | 11/21/28 | USD | 65930000 | &nbsp;&nbsp; (2514214)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2514214)<br>|
| Pay | 6M EURIBOR | Annually | 2.750<br> %<br>| Annually | 03/18/36 | EUR | 86670000 | &nbsp;&nbsp; 144105 | &nbsp;&nbsp; (53909)<br>| &nbsp;&nbsp; 198014 |
| Pay | 6M EURIBOR | Annually | 2.879<br> %<br>| Annually | 08/15/32 | EUR | 21800000 | &nbsp;&nbsp; 600826 | &nbsp;&nbsp; — | &nbsp;&nbsp; 600826 |
| Receive | 12M CPURNSA | Maturity | 1.798<br> %<br>| Maturity | 08/25/27 | USD | 9300000 | &nbsp;&nbsp; 1685778 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1685778 |
| Receive | 12M CPURNSA | Maturity | 1.890<br> %<br>| Maturity | 08/27/27 | USD | 12300000 | &nbsp;&nbsp; 2142606 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2142606 |
| Receive | 12M CPURNSA | Maturity | 2.311<br> %<br>| Maturity | 02/24/31 | USD | 21200000 | &nbsp;&nbsp; 2832228 | &nbsp;&nbsp; 9782 | &nbsp;&nbsp; 2822446 |
| Receive | 12M CPURNSA | Maturity | 2.314<br> %<br>| Maturity | 02/26/26 | USD | 10200000 | &nbsp;&nbsp; 1296012 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1296012 |
| Receive | 12M CPURNSA | Maturity | 2.419<br> %<br>| Maturity | 03/05/26 | USD | 13000000 | &nbsp;&nbsp; 1578701 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1578701 |
| Receive | 12M CPURNSA | Maturity | 2.573<br> %<br>| Maturity | 08/26/28 | USD | 1900000 | &nbsp;&nbsp; 164932 | &nbsp;&nbsp; — | &nbsp;&nbsp; 164932 |
| Receive | 12M CPURNSA | Maturity | 2.645<br> %<br>| Maturity | 09/10/28 | USD | 2400000 | &nbsp;&nbsp; 188485 | &nbsp;&nbsp; — | &nbsp;&nbsp; 188485 |
| Receive | 12M CPURNSA | Maturity | 2.703<br> %<br>| Maturity | 05/25/26 | USD | 7090000 | &nbsp;&nbsp; 725956 | &nbsp;&nbsp; — | &nbsp;&nbsp; 725956 |
| Receive | 12M CPURNSA | Maturity | 2.768<br> %<br>| Maturity | 05/13/26 | USD | 11300000 | &nbsp;&nbsp; 1133674 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1133674 |
| Receive | 12M CPURNSA | Maturity | 2.813<br> %<br>| Maturity | 05/14/26 | USD | 4600000 | &nbsp;&nbsp; 449542 | &nbsp;&nbsp; — | &nbsp;&nbsp; 449542 |
| Receive | 12M HICP | Maturity | 1.636<br> %<br>| Maturity | 06/15/27 | EUR | 18000000 | &nbsp;&nbsp; 77050 | &nbsp;&nbsp; — | &nbsp;&nbsp; 77050 |
| Receive | 12M HICP | Maturity | 2.034<br> %<br>| Maturity | 09/15/34 | EUR | 6700000 | &nbsp;&nbsp; (70490)<br>| &nbsp;&nbsp; (19088)<br>| &nbsp;&nbsp; (51402)<br>|
| Receive | 12M HICP | Maturity | 2.049<br> %<br>| Maturity | 08/15/34 | EUR | 9900000 | &nbsp;&nbsp; (123543)<br>| &nbsp;&nbsp; (3756)<br>| &nbsp;&nbsp; (119787)<br>|
| Receive | 12M HICP | Maturity | 3.000<br> %<br>| Maturity | 05/15/27 | EUR | 2000000 | &nbsp;&nbsp; 39911 | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 38911 |
| Receive | 12M HICP | Maturity | 3.130<br> %<br>| Maturity | 05/15/27 | EUR | 1400000 | &nbsp;&nbsp; 16275 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16275 |
| Receive | 12M SOFR | Annually | 2.865<br> %<br>| Annually | 02/13/54 | USD | 25800000 | &nbsp;&nbsp; 4770663 | &nbsp;&nbsp; 483009 | &nbsp;&nbsp; 4287654 |
| Receive | 12M SOFR | Annually | 3.250<br> %<br>| Annually | 06/18/34 | USD | 4750000 | &nbsp;&nbsp; 120639 | &nbsp;&nbsp; 204613 | &nbsp;&nbsp; (83974)<br>|
| Receive | 12M SOFR | Annually | 3.300<br> %<br>| Annually | 02/28/30 | USD | 61900000 | &nbsp;&nbsp; 71866 | &nbsp;&nbsp; (12000)<br>| &nbsp;&nbsp; 83866 |
| Receive | 12M SOFR | Annually | 3.325<br> %<br>| Annually | 02/28/30 | USD | 3000000 | &nbsp;&nbsp; 540 | &nbsp;&nbsp; (14316)<br>| &nbsp;&nbsp; 14856 |
| Receive | 12M SOFR | Annually | 3.500<br> %<br>| Annually | 06/20/54 | USD | 9700000 | &nbsp;&nbsp; 752829 | &nbsp;&nbsp; 247390 | &nbsp;&nbsp; 505439 |
| Receive | 12M SOFR | Annually | 3.700<br> %<br>| Annually | 05/15/35 | USD | 1553000 | &nbsp;&nbsp; (9744)<br>| &nbsp;&nbsp; (17743)<br>| &nbsp;&nbsp; 7999 |
| Receive | 12M SOFR | Annually | 3.750<br> %<br>| Annually | 05/15/32 | USD | 29367000 | &nbsp;&nbsp; (488541)<br>| &nbsp;&nbsp; (28888)<br>| &nbsp;&nbsp; (459653)<br>|
| Receive | 12M SOFR | Annually | 4.100<br> %<br>| Annually | 11/15/53 | USD | 28541400 | &nbsp;&nbsp; (749221)<br>| &nbsp;&nbsp; (717001)<br>| &nbsp;&nbsp; (32220)<br>|
| Receive | 12M SOFR | Annually | 4.250<br> %<br>| Annually | 12/20/25 | USD | 57690000 | &nbsp;&nbsp; (15651)<br>| &nbsp;&nbsp; 37199 | &nbsp;&nbsp; (52850)<br>|
| Receive | 12M TONA | Annually | 0.500<br> %<br>| Annually | 12/15/31 | JPY | 1469000000 | &nbsp;&nbsp; 449607 | &nbsp;&nbsp; 4542 | &nbsp;&nbsp; 445065 |
| Receive | 12M TONA | Annually | 0.550<br> %<br>| Annually | 09/14/28 | JPY | 1420000000 | &nbsp;&nbsp; 141788 | &nbsp;&nbsp; (9926)<br>| &nbsp;&nbsp; 151714 |
| Receive | 12M UKRPI | Maturity | 3.365<br> %<br>| Maturity | 09/15/27 | GBP | 6300000 | &nbsp;&nbsp; (7330)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (7330)<br>|
| Receive | 3M SOFR | Semi-Annually | 2.237<br> %<br>| Semi-Annually | 11/21/53 | USD | 13560000 | &nbsp;&nbsp; 4590853 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4590853 |
| Receive | 6M EURIBOR | Annually | 0.190<br> %<br>| Annually | 11/04/52 | EUR | 6700000 | &nbsp;&nbsp; 4057098 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4057098 |
| Receive | 6M EURIBOR | Annually | 0.195<br> %<br>| Annually | 11/04/52 | EUR | 7000000 | &nbsp;&nbsp; 4230977 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4230977 |
| Receive | 6M EURIBOR | Annually | 0.197<br> %<br>| Annually | 11/08/52 | EUR | 12200000 | &nbsp;&nbsp; 7370784 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7370784 |
| Receive | 6M EURIBOR | Annually | 1.830<br> %<br>| Annually | 09/17/27 | EUR | 18700000 | &nbsp;&nbsp; 136580 | &nbsp;&nbsp; — | &nbsp;&nbsp; 136580 |
| Receive | 6M EURIBOR | Annually | 2.740<br> %<br>| Annually | 09/10/35 | EUR | 5800000 | &nbsp;&nbsp; (36502)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (36502)<br>|
| Receive | 6M EURIBOR | Annually | 3.000<br> %<br>| Annually | 03/18/56 | EUR | 10560000 | &nbsp;&nbsp; (199718)<br>| &nbsp;&nbsp; (136940)<br>| &nbsp;&nbsp; (62778)<br>|
| Receive | 6M TONA | Semi-Annually | 0.300<br> %<br>| Semi-Annually | 03/20/28 | JPY | 426780000 | &nbsp;&nbsp; 54142 | &nbsp;&nbsp; (1388)<br>| &nbsp;&nbsp; 55530 |

---

**BHFTI-253**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Centrally Cleared Interest Rate Swap Contracts — (Continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive**<br> **Floating Rate** <br>| **Floating**<br> **Rate Index** <br>| **Payment**<br> **Frequency** <br>| **Fixed**<br> **Rate** <br>| **Payment**<br> **Frequency** <br>| **Maturity**<br> **Date** <br>| **Notional**<br> **Amount**  | **Notional**<br> **Amount**  | **Market**<br> **Value** <br>| **Upfront**<br> **Premiums**<br> **Paid/(Received)** <br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** <br>|
| Receive | 6M TONA | Semi-Annually | 0.300<br> %<br>| Semi-Annually | 09/20/27 | JPY | 788000000 | &nbsp;&nbsp; $73893 | &nbsp;&nbsp; $(3436)<br>| &nbsp;&nbsp; $77329 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $23563383 | &nbsp;&nbsp; $(297320)<br>| &nbsp;&nbsp; $23860703 |

---

**OTC Total Return Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Underlying Reference** <br>**Instrument** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <sup>(1)</sup> <br>|
| Pay | SOFR | Maturity | 10/09/25 | MSCS | U.S. Treasury Inflation-Indexed Notes | USD | 30000000 | $(184983)<br>| $— | $(184983)<br>|
| Pay | SOFR | Maturity | 10/09/25 | MSCS | U.S. Treasury Inflation-Indexed Notes | USD | 20000000 | (96779)<br>|  | (96779)<br>|
| Pay | SOFR | Maturity | 10/09/25 | MSCS | U.S. Treasury Inflation-Indexed Notes | USD | 60000000 | (331166)<br>|  | (331166)<br>|
| Pay | SOFR | Maturity | 10/09/25 | MSCS | U.S. Treasury Inflation-Indexed Notes | USD | 20000000 | (72226)<br>|  | (72226)<br>|
| Pay | SOFR | Maturity | 10/09/25 | MSCS | U.S. Treasury Inflation-Indexed Notes | USD | 40000000 | (296581)<br>|  | (296581)<br>|
| Pay | SOFR | Maturity | 10/09/25 | MSCS | U.S. Treasury Inflation-Indexed Notes | USD | 50000000 | (335916)<br>|  | (335916)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $(1317651)<br>| $— | $(1317651)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(1) There were no upfront premiums paid or (received), therefore Market Value equals Unrealized
 Appreciation/(Depreciation).

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1391844440 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1391844440 |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 279603043 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 279603043 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 117946423 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 117946423 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 65829285 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 65829285 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20971550 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20971550 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13656633 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13656633 |
| Total Convertible Preferred Stocks\* | &nbsp;&nbsp;&nbsp; 1110861 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1110861 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 684509615 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 684509615 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1110861 | &nbsp;&nbsp;&nbsp; $2574360989 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2575471850 |
| TBA Forward Sales Commitments (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(14106035)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(14106035)<br>|
| Reverse Repurchase Agreements (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(22132328)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(22132328)<br>|
| Secured Borrowings (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1682820500)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1682820500)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2642142 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2642142 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1494749)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1494749)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1147393 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1147393 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $3924490 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3924490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (5578285)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (5578285)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $(1653795)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1653795)<br>|
| Total Written Options\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(733629)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(733629)<br>|
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $40784880 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $40784880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (16924177)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (16924177)<br>|
| Total Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $23860703 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $23860703 |

---

**BHFTI-254**

------

**Brighthouse Funds Trust I**

**PIMCO Inflation Protected Bond Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Liabilities) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1317651)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1317651)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-255**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—44.4% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations — 2.4%** | **Agency Collateralized Mortgage Obligations — 2.4%** | **Agency Collateralized Mortgage Obligations — 2.4%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/15/42 | 6768634 | &nbsp;&nbsp;&nbsp; $6395116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.677%, SOFR30A + 0.304%, 10/15/43 (a) | 3110520 | &nbsp;&nbsp;&nbsp; 3047300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.737%, SOFR30A + 0.364%, 07/15/34 (a) | 1726 | &nbsp;&nbsp;&nbsp; 1719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, SOFR30A + 1.300%, 05/25/54 (a) | 5103899 | &nbsp;&nbsp;&nbsp; 5103258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Structured Pass-<br> Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 12M MTA + 1.200%, 10/25/44 (a) | 230832 | &nbsp;&nbsp;&nbsp; 211888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 12M MTA + 1.200%, 02/25/45 (a) | 20871 | &nbsp;&nbsp;&nbsp; 20243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 12M MTA + 1.400%, 07/25/44 (a) | 1085495 | &nbsp;&nbsp;&nbsp; 1051660 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.851%, SOFR30A + 0.494%, 11/25/42 (a) | 1137891 | &nbsp;&nbsp;&nbsp; 1130514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.901%, SOFR30A + 0.514%, 09/18/31 (a) | 4319 | &nbsp;&nbsp;&nbsp; 4317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.371%, SOFR30A + 1.014%, 04/25/32 (a) | 2487 | &nbsp;&nbsp;&nbsp; 2495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.373%, 05/25/35 (a) | 117491 | &nbsp;&nbsp;&nbsp; 120143 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.806%, 1M TSFR + 0.454%, 12/20/62 (a) | 21455 | &nbsp;&nbsp;&nbsp; 21409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.889%, SOFR30A + 0.500%, 01/20/72 (a) | 3902450 | &nbsp;&nbsp;&nbsp; 3853967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 1M TSFR + 0.714%, 08/20/65 (a) | 694721 | &nbsp;&nbsp;&nbsp; 694323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 1M TSFR + 0.714%, 10/20/65 (a) | 959777 | &nbsp;&nbsp;&nbsp; 961267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 1M TSFR + 0.764%, 06/20/66 (a) | 242708 | &nbsp;&nbsp;&nbsp; 243227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.189%, SOFR30A + 0.800%, 01/20/73 (a) | 7060031 | &nbsp;&nbsp;&nbsp; 7069652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.269%, SOFR30A + 0.880%, 03/20/73 (a) | 7615254 | &nbsp;&nbsp;&nbsp; 7651996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, SOFR30A + 0.900%, 01/20/73 (a) | 12206334 | &nbsp;&nbsp;&nbsp; 12222411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, SOFR30A + 0.900%, 12/20/73 (a) | 15940041 | &nbsp;&nbsp;&nbsp; 15992556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 1M TSFR + 0.964%, 09/20/66 (a) | 1808117 | &nbsp;&nbsp;&nbsp; 1813903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.409%, SOFR30A + 1.020%, 12/20/72 (a) | 4925503 | &nbsp;&nbsp;&nbsp; 4978713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 1M TSFR + 1.114%, 12/20/65 (a) | 5795060 | &nbsp;&nbsp;&nbsp; 5821477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 1M TSFR + 1.114%, 01/20/67 (a) | 2615367 | &nbsp;&nbsp;&nbsp; 2628538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.577%, 12M TSFR + 1.515%, 09/20/67 (a) | 3276593 | &nbsp;&nbsp;&nbsp; 3327434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.149%, 09/20/66 (a) | 2318017 | &nbsp;&nbsp;&nbsp; 2354935 |
|  |  | &nbsp;&nbsp;&nbsp; 86724461 |
| **Agency Mortgage-Backed Securities — 42.0%** | **Agency Mortgage-Backed Securities — 42.0%** | **Agency Mortgage-Backed Securities — 42.0%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/01/32 | 5049130 | &nbsp;&nbsp;&nbsp; 4886228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/26 | 2216 | &nbsp;&nbsp;&nbsp; 2206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/32 | 51978 | &nbsp;&nbsp;&nbsp; 51345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/33 | 127135 | &nbsp;&nbsp;&nbsp; 125380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/33 | 3991 | &nbsp;&nbsp;&nbsp; 3934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/33 | 163406 | &nbsp;&nbsp;&nbsp; 161085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/33 | 352475 | &nbsp;&nbsp;&nbsp; 347453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/34 | 37780 | &nbsp;&nbsp;&nbsp; 37234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/34 | 61899 | &nbsp;&nbsp;&nbsp; 60980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/34 | 658465 | &nbsp;&nbsp;&nbsp; 645894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/34 | 256038 | &nbsp;&nbsp;&nbsp; 252142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/34 | 54678 | &nbsp;&nbsp;&nbsp; 53348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/34 | 22905 | &nbsp;&nbsp;&nbsp; 22348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/35 | 95067 | &nbsp;&nbsp;&nbsp; 92578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/30 | 9160 | &nbsp;&nbsp;&nbsp; 9128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/30 | 58149 | &nbsp;&nbsp;&nbsp; 57935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/30 | 3123 | &nbsp;&nbsp;&nbsp; 3111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/33 | 6275 | &nbsp;&nbsp;&nbsp; 6260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/40 | 126646 | &nbsp;&nbsp;&nbsp; 124106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/52 | 2215452 | &nbsp;&nbsp;&nbsp; 2093897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/34 | 4263 | &nbsp;&nbsp;&nbsp; 4265 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/35 | 13406 | &nbsp;&nbsp;&nbsp; $13522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/41 | 20665 | &nbsp;&nbsp;&nbsp; 20693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/52 | 302996 | &nbsp;&nbsp;&nbsp; 303667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/53 | 5746330 | &nbsp;&nbsp;&nbsp; 5722392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/53 | 6823073 | &nbsp;&nbsp;&nbsp; 6867390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/53 | 710949 | &nbsp;&nbsp;&nbsp; 712800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/54 | 279345 | &nbsp;&nbsp;&nbsp; 277175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/33 | 275 | &nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/33 | 406 | &nbsp;&nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/33 | 389 | &nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/33 | 1087 | &nbsp;&nbsp;&nbsp; 1123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/34 | 590 | &nbsp;&nbsp;&nbsp; 598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/34 | 8486 | &nbsp;&nbsp;&nbsp; 8568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/35 | 7111 | &nbsp;&nbsp;&nbsp; 7380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/35 | 403 | &nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/35 | 7389 | &nbsp;&nbsp;&nbsp; 7674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/35 | 18403 | &nbsp;&nbsp;&nbsp; 18857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/35 | 10951 | &nbsp;&nbsp;&nbsp; 11408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/36 | 9435 | &nbsp;&nbsp;&nbsp; 9828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/36 | 4838 | &nbsp;&nbsp;&nbsp; 5025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/36 | 368223 | &nbsp;&nbsp;&nbsp; 382957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/36 | 7747 | &nbsp;&nbsp;&nbsp; 8070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/36 | 10559 | &nbsp;&nbsp;&nbsp; 10837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/36 | 1380 | &nbsp;&nbsp;&nbsp; 1414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/36 | 55071 | &nbsp;&nbsp;&nbsp; 57368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/37 | 5627 | &nbsp;&nbsp;&nbsp; 5844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/37 | 3774 | &nbsp;&nbsp;&nbsp; 3931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/37 | 21681 | &nbsp;&nbsp;&nbsp; 22330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/37 | 28082 | &nbsp;&nbsp;&nbsp; 29098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/37 | 46017 | &nbsp;&nbsp;&nbsp; 47937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/37 | 18184 | &nbsp;&nbsp;&nbsp; 18943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/37 | 3097 | &nbsp;&nbsp;&nbsp; 3226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/37 | 2428 | &nbsp;&nbsp;&nbsp; 2528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/37 | 56543 | &nbsp;&nbsp;&nbsp; 58902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/37 | 3971 | &nbsp;&nbsp;&nbsp; 4108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/38 | 19423 | &nbsp;&nbsp;&nbsp; 20200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/38 | 48976 | &nbsp;&nbsp;&nbsp; 50939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/38 | 23941 | &nbsp;&nbsp;&nbsp; 24781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/38 | 36798 | &nbsp;&nbsp;&nbsp; 38238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/38 | 31084 | &nbsp;&nbsp;&nbsp; 32064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/38 | 80780 | &nbsp;&nbsp;&nbsp; 83757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/38 | 98626 | &nbsp;&nbsp;&nbsp; 102550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/38 | 254072 | &nbsp;&nbsp;&nbsp; 264496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/38 | 68136 | &nbsp;&nbsp;&nbsp; 70675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/38 | 2035124 | &nbsp;&nbsp;&nbsp; 2110765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/38 | 795914 | &nbsp;&nbsp;&nbsp; 825551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/38 | 4517 | &nbsp;&nbsp;&nbsp; 4672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/39 | 172005 | &nbsp;&nbsp;&nbsp; 178980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/39 | 43650 | &nbsp;&nbsp;&nbsp; 45178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/39 | 18331 | &nbsp;&nbsp;&nbsp; 19051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/39 | 641891 | &nbsp;&nbsp;&nbsp; 665803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/39 | 8757 | &nbsp;&nbsp;&nbsp; 9110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/40 | 19488 | &nbsp;&nbsp;&nbsp; 20206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/40 | 3211 | &nbsp;&nbsp;&nbsp; 3329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/40 | 657 | &nbsp;&nbsp;&nbsp; 682 |

---

**BHFTI-256**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/40 | 21326 | &nbsp;&nbsp;&nbsp; $22054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/54 | 31007 | &nbsp;&nbsp;&nbsp; 31319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/54 | 1996601 | &nbsp;&nbsp;&nbsp; 2016167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/53 | 9260307 | &nbsp;&nbsp;&nbsp; 9501724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/53 | 816798 | &nbsp;&nbsp;&nbsp; 836309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/53 | 15936752 | &nbsp;&nbsp;&nbsp; 16317679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/54 | 2570884 | &nbsp;&nbsp;&nbsp; 2633220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/54 | 3255549 | &nbsp;&nbsp;&nbsp; 3329865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/54 | 19484827 | &nbsp;&nbsp;&nbsp; 19924264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/54 | 3424041 | &nbsp;&nbsp;&nbsp; 3500300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.191%, 1Y RFUCCT + 1.345%, 09/01/35 (a) | 33257 | &nbsp;&nbsp;&nbsp; 33980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.340%, 1Y H15 + 2.108%, 02/01/35 (a) | 12302 | &nbsp;&nbsp;&nbsp; 12673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 1Y H15 + 2.250%, 11/01/31 (a) | 3353 | &nbsp;&nbsp;&nbsp; 3413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.402%, 1Y H15 + 2.250%, 11/01/34 (a) | 10873 | &nbsp;&nbsp;&nbsp; 11229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.469%, 1Y H15 + 2.250%, 08/01/35 (a) | 45152 | &nbsp;&nbsp;&nbsp; 46689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.498%, 1Y H15 + 2.250%, 01/01/35 (a) | 21200 | &nbsp;&nbsp;&nbsp; 21920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1Y H15 + 2.250%, 02/01/35 (a) | 8457 | &nbsp;&nbsp;&nbsp; 8753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.525%, 1Y RFUCCT + 1.900%, 11/01/34 (a) | 1868 | &nbsp;&nbsp;&nbsp; 1899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.540%, 1Y RFUCCT + 1.625%, 02/01/35 (a) | 8351 | &nbsp;&nbsp;&nbsp; 8596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.552%, 1Y RFUCCT + 1.677%, 01/01/35 (a) | 4168 | &nbsp;&nbsp;&nbsp; 4245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.565%, 1Y H15 + 2.250%, 06/01/35 (a) | 100913 | &nbsp;&nbsp;&nbsp; 104255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.575%, 1Y RFUCCT + 1.621%, 02/01/35 (a) | 2644 | &nbsp;&nbsp;&nbsp; 2702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.632%, 1Y H15 + 2.436%, 01/01/29 (a) | 9635 | &nbsp;&nbsp;&nbsp; 9651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.657%, 1Y RFUCCT + 1.678%, 02/01/35 (a) | 4791 | &nbsp;&nbsp;&nbsp; 4884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.711%, 1Y RFUCCT + 1.961%, 08/01/32 (a) | 22615 | &nbsp;&nbsp;&nbsp; 23042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.714%, 1Y H15 + 2.107%, 10/01/34 (a) | 6684 | &nbsp;&nbsp;&nbsp; 6832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.854%, 1Y RFUCCT + 1.901%, 02/01/35 (a) | 7031 | &nbsp;&nbsp;&nbsp; 7263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.953%, 1Y RFUCCT + 1.892%, 11/01/34 (a) | 6292 | &nbsp;&nbsp;&nbsp; 6451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.151%, 1Y H15 + 2.182%, 09/01/35 (a) | 27778 | &nbsp;&nbsp;&nbsp; 28416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.400%, 1Y RFUCCT + 1.900%, 11/01/34 (a) | 2104 | &nbsp;&nbsp;&nbsp; 2150 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/28 | 41244 | &nbsp;&nbsp;&nbsp; 40600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/30 | 2171896 | &nbsp;&nbsp;&nbsp; 2131741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/49 | 1855084 | &nbsp;&nbsp;&nbsp; 1633364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/26 | 7002 | &nbsp;&nbsp;&nbsp; 6958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/26 | 21732 | &nbsp;&nbsp;&nbsp; 21589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/27 | 1617 | &nbsp;&nbsp;&nbsp; 1609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/28 | 91862 | &nbsp;&nbsp;&nbsp; 90773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 | 64590 | &nbsp;&nbsp;&nbsp; 64028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/29 | 14332 | &nbsp;&nbsp;&nbsp; 14164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/31 | 19076 | &nbsp;&nbsp;&nbsp; 18843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/32 | 109204 | &nbsp;&nbsp;&nbsp; 107876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/32 | 181921 | &nbsp;&nbsp;&nbsp; 179667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/33 | 102482 | &nbsp;&nbsp;&nbsp; 100851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/33 | 129991 | &nbsp;&nbsp;&nbsp; 128181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/33 | 80932 | &nbsp;&nbsp;&nbsp; 79786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/33 | 374664 | &nbsp;&nbsp;&nbsp; 367388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/33 | 191385 | &nbsp;&nbsp;&nbsp; 187847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/34 | 3514498 | &nbsp;&nbsp;&nbsp; 3460649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/34 | 171751 | &nbsp;&nbsp;&nbsp; 168349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/34 | 410515 | &nbsp;&nbsp;&nbsp; 402055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/35 | 24000 | &nbsp;&nbsp;&nbsp; 23388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/35 | 52175 | &nbsp;&nbsp;&nbsp; 51396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/35 | 1600298 | &nbsp;&nbsp;&nbsp; 1572856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/40 | 227745 | &nbsp;&nbsp;&nbsp; 218286 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/40 | 3215292 | &nbsp;&nbsp;&nbsp; $3074640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/26 | 869 | &nbsp;&nbsp;&nbsp; 866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/26 | 251 | &nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/26 | 939 | &nbsp;&nbsp;&nbsp; 936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/29 | 5213 | &nbsp;&nbsp;&nbsp; 5186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/29 | 14902 | &nbsp;&nbsp;&nbsp; 14828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/30 | 10364 | &nbsp;&nbsp;&nbsp; 10333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/30 | 18195 | &nbsp;&nbsp;&nbsp; 18094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/30 | 14753 | &nbsp;&nbsp;&nbsp; 14688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/30 | 14103 | &nbsp;&nbsp;&nbsp; 14040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/30 | 454 | &nbsp;&nbsp;&nbsp; 452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/30 | 51934 | &nbsp;&nbsp;&nbsp; 51674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/30 | 7785 | &nbsp;&nbsp;&nbsp; 7745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/31 | 994 | &nbsp;&nbsp;&nbsp; 988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/31 | 28533 | &nbsp;&nbsp;&nbsp; 28372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/33 | 23324 | &nbsp;&nbsp;&nbsp; 23296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/34 | 36726 | &nbsp;&nbsp;&nbsp; 35846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/35 | 15348 | &nbsp;&nbsp;&nbsp; 14853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/41 | 22143 | &nbsp;&nbsp;&nbsp; 21549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/43 | 136634 | &nbsp;&nbsp;&nbsp; 132746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/52 | 379381 | &nbsp;&nbsp;&nbsp; 362471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/52 | 1384610 | &nbsp;&nbsp;&nbsp; 1325143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 11/01/29 | 1300000 | &nbsp;&nbsp;&nbsp; 1312988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/01/25 | 100 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/26 | 155 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/01/27 | 22 | &nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/31 | 5159 | &nbsp;&nbsp;&nbsp; 5186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/39 | 9612 | &nbsp;&nbsp;&nbsp; 9677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/39 | 17687 | &nbsp;&nbsp;&nbsp; 17785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/39 | 3089 | &nbsp;&nbsp;&nbsp; 3105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/40 | 6925 | &nbsp;&nbsp;&nbsp; 6949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/40 | 7701 | &nbsp;&nbsp;&nbsp; 7712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/40 | 28207 | &nbsp;&nbsp;&nbsp; 28231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/41 | 5538 | &nbsp;&nbsp;&nbsp; 5465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/41 | 141702 | &nbsp;&nbsp;&nbsp; 140574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/01/42 | 18238 | &nbsp;&nbsp;&nbsp; 18192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/42 | 85158 | &nbsp;&nbsp;&nbsp; 84154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/53 | 4683012 | &nbsp;&nbsp;&nbsp; 4568112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.891%, ECOFC + 1.934%, 12/01/36 (a) | 6847 | &nbsp;&nbsp;&nbsp; 6789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/33 | 9469 | &nbsp;&nbsp;&nbsp; 9430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/33 | 21097 | &nbsp;&nbsp;&nbsp; 21208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/33 | 427 | &nbsp;&nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/33 | 396 | &nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/33 | 4238 | &nbsp;&nbsp;&nbsp; 4296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/33 | 111 | &nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/34 | 9338 | &nbsp;&nbsp;&nbsp; 9402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/34 | 26621 | &nbsp;&nbsp;&nbsp; 26965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/34 | 491 | &nbsp;&nbsp;&nbsp; 499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/34 | 10550 | &nbsp;&nbsp;&nbsp; 10790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/35 | 6831 | &nbsp;&nbsp;&nbsp; 6992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/35 | 12 | &nbsp;&nbsp;&nbsp; 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/35 | 14227 | &nbsp;&nbsp;&nbsp; 14230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/38 | 34139 | &nbsp;&nbsp;&nbsp; 35066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/39 | 6334 | &nbsp;&nbsp;&nbsp; 6495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/39 | 815 | &nbsp;&nbsp;&nbsp; 830 |

---

**BHFTI-257**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/39 | 4824 | &nbsp;&nbsp;&nbsp; $4940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/40 | 9215 | &nbsp;&nbsp;&nbsp; 9437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/42 | 32561 | &nbsp;&nbsp;&nbsp; 33346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/53 | 46813354 | &nbsp;&nbsp;&nbsp; 46642754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/53 | 780296 | &nbsp;&nbsp;&nbsp; 780927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/53 | 8611895 | &nbsp;&nbsp;&nbsp; 8608975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 12M MTA + 1.200%, 08/01/41 (a) | 28837 | &nbsp;&nbsp;&nbsp; 28833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 12M MTA + 1.200%, 07/01/42 (a) | 50234 | &nbsp;&nbsp;&nbsp; 50113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 12M MTA + 1.200%, 08/01/42 (a) | 74120 | &nbsp;&nbsp;&nbsp; 74358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 12M MTA + 1.200%, 10/01/44 (a) | 64836 | &nbsp;&nbsp;&nbsp; 65187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.471%, 12M MTA + 1.250%, 09/01/41 (a) | 159105 | &nbsp;&nbsp;&nbsp; 160003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/28 | 148 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/33 | 10946 | &nbsp;&nbsp;&nbsp; 11104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/33 | 2691 | &nbsp;&nbsp;&nbsp; 2757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/33 | 55177 | &nbsp;&nbsp;&nbsp; 55645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/33 | 74773 | &nbsp;&nbsp;&nbsp; 75406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/33 | 345 | &nbsp;&nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/34 | 493 | &nbsp;&nbsp;&nbsp; 505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/34 | 3893 | &nbsp;&nbsp;&nbsp; 3926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/34 | 67899 | &nbsp;&nbsp;&nbsp; 70277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/34 | 995 | &nbsp;&nbsp;&nbsp; 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/34 | 73538 | &nbsp;&nbsp;&nbsp; 75573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/34 | 177608 | &nbsp;&nbsp;&nbsp; 184262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/35 | 65242 | &nbsp;&nbsp;&nbsp; 67665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/35 | 84192 | &nbsp;&nbsp;&nbsp; 87377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/35 | 174871 | &nbsp;&nbsp;&nbsp; 181792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/35 | 9557 | &nbsp;&nbsp;&nbsp; 9776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/35 | 30389 | &nbsp;&nbsp;&nbsp; 31580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/35 | 47507 | &nbsp;&nbsp;&nbsp; 49312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/35 | 38197 | &nbsp;&nbsp;&nbsp; 39699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/35 | 483911 | &nbsp;&nbsp;&nbsp; 503285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/35 | 50149 | &nbsp;&nbsp;&nbsp; 52178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/35 | 252387 | &nbsp;&nbsp;&nbsp; 261839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/36 | 62259 | &nbsp;&nbsp;&nbsp; 64778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/36 | 55181 | &nbsp;&nbsp;&nbsp; 57414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/36 | 437 | &nbsp;&nbsp;&nbsp; 455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/36 | 233314 | &nbsp;&nbsp;&nbsp; 242174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/36 | 28035 | &nbsp;&nbsp;&nbsp; 28821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/36 | 16738 | &nbsp;&nbsp;&nbsp; 17408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/36 | 1069 | &nbsp;&nbsp;&nbsp; 1099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/37 | 297 | &nbsp;&nbsp;&nbsp; 309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/37 | 6888 | &nbsp;&nbsp;&nbsp; 7122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/37 | 216884 | &nbsp;&nbsp;&nbsp; 225661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/38 | 1945 | &nbsp;&nbsp;&nbsp; 2018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/38 | 66378 | &nbsp;&nbsp;&nbsp; 69068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/38 | 323572 | &nbsp;&nbsp;&nbsp; 335498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/38 | 478795 | &nbsp;&nbsp;&nbsp; 497219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/38 | 17344 | &nbsp;&nbsp;&nbsp; 17970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/38 | 15817 | &nbsp;&nbsp;&nbsp; 16356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/38 | 143292 | &nbsp;&nbsp;&nbsp; 149092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/38 | 40986 | &nbsp;&nbsp;&nbsp; 42530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/39 | 12589 | &nbsp;&nbsp;&nbsp; 13059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/39 | 5137 | &nbsp;&nbsp;&nbsp; 5275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/39 | 523069 | &nbsp;&nbsp;&nbsp; 541709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/40 | 117650 | &nbsp;&nbsp;&nbsp; 121845 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/40 | 44204 | &nbsp;&nbsp;&nbsp; $45122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/40 | 75026 | &nbsp;&nbsp;&nbsp; 78067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/41 | 889179 | &nbsp;&nbsp;&nbsp; 920861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/49 | 46564 | &nbsp;&nbsp;&nbsp; 47697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/53 | 899079 | &nbsp;&nbsp;&nbsp; 907935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/53 | 2797692 | &nbsp;&nbsp;&nbsp; 2833348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/53 | 435913 | &nbsp;&nbsp;&nbsp; 441204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/53 | 454065 | &nbsp;&nbsp;&nbsp; 459136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/54 | 2062495 | &nbsp;&nbsp;&nbsp; 2086635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.613%, ECOFC + 1.739%, 09/01/34 (a) | 1753 | &nbsp;&nbsp;&nbsp; 1738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 12M MTA + 1.717%, 11/01/35 (a) | 46931 | &nbsp;&nbsp;&nbsp; 47765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.960%, 1Y RFUCCT + 1.335%, 12/01/34 (a) | 50867 | &nbsp;&nbsp;&nbsp; 51317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.998%, 6M RFUCCT + 1.373%, 09/01/35 (a) | 70625 | &nbsp;&nbsp;&nbsp; 70788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/28 | 4131 | &nbsp;&nbsp;&nbsp; 4227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/29 | 1854 | &nbsp;&nbsp;&nbsp; 1911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/29 | 7 | &nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/29 | 373 | &nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29 | 466 | &nbsp;&nbsp;&nbsp; 479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/32 | 26278 | &nbsp;&nbsp;&nbsp; 26847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/32 | 21623 | &nbsp;&nbsp;&nbsp; 22160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/33 | 3411 | &nbsp;&nbsp;&nbsp; 3526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/33 | 3344 | &nbsp;&nbsp;&nbsp; 3456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/33 | 3452 | &nbsp;&nbsp;&nbsp; 3568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/34 | 270 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/34 | 2153 | &nbsp;&nbsp;&nbsp; 2199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/35 | 164892 | &nbsp;&nbsp;&nbsp; 170991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/35 | 4206 | &nbsp;&nbsp;&nbsp; 4405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/35 | 140 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/35 | 10741 | &nbsp;&nbsp;&nbsp; 11084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/35 | 1717 | &nbsp;&nbsp;&nbsp; 1804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/35 | 102214 | &nbsp;&nbsp;&nbsp; 106250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/35 | 7054 | &nbsp;&nbsp;&nbsp; 7312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/36 | 815 | &nbsp;&nbsp;&nbsp; 841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/36 | 20783 | &nbsp;&nbsp;&nbsp; 21795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/36 | 1045 | &nbsp;&nbsp;&nbsp; 1089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/36 | 3434 | &nbsp;&nbsp;&nbsp; 3551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/36 | 400022 | &nbsp;&nbsp;&nbsp; 421520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/36 | 52317 | &nbsp;&nbsp;&nbsp; 54897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/36 | 3177 | &nbsp;&nbsp;&nbsp; 3310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/36 | 6983 | &nbsp;&nbsp;&nbsp; 7289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/37 | 50294 | &nbsp;&nbsp;&nbsp; 52582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/37 | 107979 | &nbsp;&nbsp;&nbsp; 113786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/37 | 26751 | &nbsp;&nbsp;&nbsp; 27944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/37 | 12290 | &nbsp;&nbsp;&nbsp; 12551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/37 | 7040 | &nbsp;&nbsp;&nbsp; 7419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/37 | 7199 | &nbsp;&nbsp;&nbsp; 7587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/37 | 12829 | &nbsp;&nbsp;&nbsp; 13494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/38 | 116570 | &nbsp;&nbsp;&nbsp; 122843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/38 | 2248 | &nbsp;&nbsp;&nbsp; 2355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/38 | 3130 | &nbsp;&nbsp;&nbsp; 3255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/38 | 238745 | &nbsp;&nbsp;&nbsp; 251597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/38 | 17289 | &nbsp;&nbsp;&nbsp; 18220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/39 | 18120 | &nbsp;&nbsp;&nbsp; 19095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/39 | 111770 | &nbsp;&nbsp;&nbsp; 117787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/39 | 22494 | &nbsp;&nbsp;&nbsp; 23631 |

---

**BHFTI-258**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/39 | 112332 | &nbsp;&nbsp;&nbsp; $117527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/49 | 863037 | &nbsp;&nbsp;&nbsp; 901126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/53 | 10444051 | &nbsp;&nbsp;&nbsp; 10686358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.025%, 1Y H15 + 1.900%, 02/01/31 (a) | 64023 | &nbsp;&nbsp;&nbsp; 64368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.036%, 1Y RFUCCT + 1.261%, 12/01/34 (a) | 215530 | &nbsp;&nbsp;&nbsp; 218557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.056%, 6M RFUCCT + 1.412%, 06/01/33 (a) | 3917 | &nbsp;&nbsp;&nbsp; 3961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.115%, 6M RFUCCT + 1.515%, 01/01/35 (a) | 20562 | &nbsp;&nbsp;&nbsp; 21070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.163%, 6M RFUCCT + 1.538%, 01/01/36 (a) | 4333 | &nbsp;&nbsp;&nbsp; 4357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.212%, 1Y H15 + 2.016%, 07/01/33 (a) | 1494 | &nbsp;&nbsp;&nbsp; 1521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.223%, 1Y H15 + 2.223%, 08/01/35 (a) | 36333 | &nbsp;&nbsp;&nbsp; 37478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.267%, 1Y H15 + 2.069%, 10/01/28 (a) | 21951 | &nbsp;&nbsp;&nbsp; 22024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.332%, 1Y RFUCCT + 1.355%, 03/01/35 (a) | 8055 | &nbsp;&nbsp;&nbsp; 8197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 1Y RFUCCT + 1.350%, 11/01/34 (a) | 1560 | &nbsp;&nbsp;&nbsp; 1576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.355%, 6M RFUCCT + 1.605%, 08/01/36 (a) | 12628 | &nbsp;&nbsp;&nbsp; 12777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.410%, 1Y RFUCCT + 1.660%, 05/01/34 (a) | 170705 | &nbsp;&nbsp;&nbsp; 172958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.428%, 1Y H15 + 2.192%, 02/01/35 (a) | 13298 | &nbsp;&nbsp;&nbsp; 13752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.429%, 1Y RFUCCT + 1.590%, 01/01/35 (a) | 8035 | &nbsp;&nbsp;&nbsp; 8265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.442%, 1Y RFUCCT + 1.630%, 01/01/35 (a) | 3797 | &nbsp;&nbsp;&nbsp; 3865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.476%, 1Y RFUCCT + 1.636%, 12/01/34 (a) | 4774 | &nbsp;&nbsp;&nbsp; 4866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.477%, 1Y RFUCCT + 1.750%, 08/01/35 (a) | 82878 | &nbsp;&nbsp;&nbsp; 85347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.493%, 1Y RFUCCT + 1.618%, 03/01/33 (a) | 1076 | &nbsp;&nbsp;&nbsp; 1094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.506%, 1Y RFUCCT + 1.556%, 01/01/35 (a) | 5525 | &nbsp;&nbsp;&nbsp; 5679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.508%, 1Y H15 + 2.302%, 04/01/34 (a) | 868 | &nbsp;&nbsp;&nbsp; 897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.523%, 1Y RFUCCT + 1.538%, 01/01/35 (a) | 10913 | &nbsp;&nbsp;&nbsp; 11227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.526%, 1Y H15 + 2.360%, 11/01/34 (a) | 255070 | &nbsp;&nbsp;&nbsp; 265268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.563%, 1Y H15 + 2.313%, 05/01/35 (a) | 47642 | &nbsp;&nbsp;&nbsp; 49405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.582%, 1Y RFUCCT + 1.620%, 02/01/35 (a) | 3739 | &nbsp;&nbsp;&nbsp; 3855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.631%, 1Y RFUCCT + 1.630%, 05/01/35 (a) | 8648 | &nbsp;&nbsp;&nbsp; 8946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.635%, 1Y H15 + 2.095%, 10/01/35 (a) | 38156 | &nbsp;&nbsp;&nbsp; 39126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.654%, 1Y H15 + 2.215%, 09/01/31 (a) | 7571 | &nbsp;&nbsp;&nbsp; 7650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.685%, 1Y H15 + 2.144%, 11/01/35 (a) | 62832 | &nbsp;&nbsp;&nbsp; 64896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.709%, 1Y RFUCCT + 1.595%, 10/01/34 (a) | 3598 | &nbsp;&nbsp;&nbsp; 3661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.810%, 1Y RFUCCT + 1.810%, 04/01/35 (a) | 14261 | &nbsp;&nbsp;&nbsp; 14735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.848%, 1Y RFUCCT + 1.670%, 11/01/34 (a) | 9505 | &nbsp;&nbsp;&nbsp; 9807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.122%, 1Y RFUCCT + 1.657%, 09/01/32 (a) | 29508 | &nbsp;&nbsp;&nbsp; 30103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.435%, 1Y RFUCCT + 1.810%, 09/01/34 (a) | 100452 | &nbsp;&nbsp;&nbsp; 102957 |
| Federal National Mortgage Association-ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.349%, 01/25/31 (a) (b) | 20568598 | &nbsp;&nbsp;&nbsp; 1198092 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/49 | 1569574 | &nbsp;&nbsp;&nbsp; 1404657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/20/52 | 539855 | &nbsp;&nbsp;&nbsp; 496608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/20/52 | 327433 | &nbsp;&nbsp;&nbsp; 299888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/20/52 | 176435 | &nbsp;&nbsp;&nbsp; 161520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/52 | 148261 | &nbsp;&nbsp;&nbsp; 135697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/54 | 6957177 | &nbsp;&nbsp;&nbsp; 6345753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/54 | 11117361 | &nbsp;&nbsp;&nbsp; 10140302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/20/55 | 1990035 | &nbsp;&nbsp;&nbsp; 1815841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/20/55 | 7965738 | &nbsp;&nbsp;&nbsp; 7265582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/20/55 | 10259902 | &nbsp;&nbsp;&nbsp; 9358085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/15/52 | 8029461 | &nbsp;&nbsp;&nbsp; 7602750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/20/55 | 99999 | &nbsp;&nbsp;&nbsp; 94057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/20/49 | 8800 | &nbsp;&nbsp;&nbsp; 8678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 08/20/27 (a) | 2582 | &nbsp;&nbsp;&nbsp; 2580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 09/20/27 (a) | 14668 | &nbsp;&nbsp;&nbsp; 14777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 07/20/29 (a) | 1217 | &nbsp;&nbsp;&nbsp; 1221 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 08/20/29 (a) | 1380 | &nbsp;&nbsp;&nbsp; $1386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 09/20/29 (a) | 2295 | &nbsp;&nbsp;&nbsp; 2300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 08/20/31 (a) | 405 | &nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1Y H15 + 1.500%, 09/20/33 (a) | 10885 | &nbsp;&nbsp;&nbsp; 11028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1Y H15 + 1.500%, 11/20/27 (a) | 1504 | &nbsp;&nbsp;&nbsp; 1505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1Y H15 + 1.500%, 10/20/28 (a) | 162 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1Y H15 + 1.500%, 10/20/29 (a) | 800 | &nbsp;&nbsp;&nbsp; 801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1Y H15 + 1.500%, 11/20/30 (a) | 1970 | &nbsp;&nbsp;&nbsp; 1973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/33 | 1924 | &nbsp;&nbsp;&nbsp; 1943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/33 | 5860 | &nbsp;&nbsp;&nbsp; 5982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/34 | 1813 | &nbsp;&nbsp;&nbsp; 1857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/34 | 365 | &nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/35 | 858 | &nbsp;&nbsp;&nbsp; 874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/36 | 544 | &nbsp;&nbsp;&nbsp; 557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/38 | 157546 | &nbsp;&nbsp;&nbsp; 161572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/39 | 24346 | &nbsp;&nbsp;&nbsp; 24944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/39 | 38898 | &nbsp;&nbsp;&nbsp; 39892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/39 | 202694 | &nbsp;&nbsp;&nbsp; 207778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/39 | 727064 | &nbsp;&nbsp;&nbsp; 745304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/39 | 216126 | &nbsp;&nbsp;&nbsp; 221503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/39 | 118955 | &nbsp;&nbsp;&nbsp; 123546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/40 | 7913 | &nbsp;&nbsp;&nbsp; 8107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/40 | 81856 | &nbsp;&nbsp;&nbsp; 83906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/40 | 6291 | &nbsp;&nbsp;&nbsp; 6450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/47 | 16942 | &nbsp;&nbsp;&nbsp; 16936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/48 | 1223861 | &nbsp;&nbsp;&nbsp; 1219121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/48 | 1368678 | &nbsp;&nbsp;&nbsp; 1363337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/49 | 1722539 | &nbsp;&nbsp;&nbsp; 1757304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/49 | 277744 | &nbsp;&nbsp;&nbsp; 280800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/20/49 | 41964 | &nbsp;&nbsp;&nbsp; 42502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/20/49 | 92992 | &nbsp;&nbsp;&nbsp; 94383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/50 | 253883 | &nbsp;&nbsp;&nbsp; 253478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/52 | 6169199 | &nbsp;&nbsp;&nbsp; 6144761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1Y H15 + 2.000%, 10/20/31 (a) | 2751 | &nbsp;&nbsp;&nbsp; 2802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1Y H15 + 1.500%, 11/20/26 (a) | 641 | &nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1Y H15 + 1.500%, 10/20/30 (a) | 516 | &nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 02/20/26 (a) | 139 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 05/20/26 (a) | 139 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 01/20/27 (a) | 205 | &nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 06/20/27 (a) | 432 | &nbsp;&nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 02/20/28 (a) | 865 | &nbsp;&nbsp;&nbsp; 866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 03/20/28 (a) | 1413 | &nbsp;&nbsp;&nbsp; 1412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 05/20/28 (a) | 642 | &nbsp;&nbsp;&nbsp; 646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 05/20/29 (a) | 1004 | &nbsp;&nbsp;&nbsp; 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 01/20/30 (a) | 4576 | &nbsp;&nbsp;&nbsp; 4583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 04/20/30 (a) | 2219 | &nbsp;&nbsp;&nbsp; 2223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 05/20/30 (a) | 4176 | &nbsp;&nbsp;&nbsp; 4173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 06/20/30 (a) | 1304 | &nbsp;&nbsp;&nbsp; 1303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 04/20/31 (a) | 2093 | &nbsp;&nbsp;&nbsp; 2093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 03/20/32 (a) | 86 | &nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 04/20/32 (a) | 1404 | &nbsp;&nbsp;&nbsp; 1406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 05/20/32 (a) | 2999 | &nbsp;&nbsp;&nbsp; 2998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1Y H15 + 1.500%, 03/20/33 (a) | 845 | &nbsp;&nbsp;&nbsp; 857 |
| Government National Mortgage Association, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, TBA (c) | 8600000 | &nbsp;&nbsp;&nbsp; 7108964 |

---

**BHFTI-259**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, TBA (c) | 39200000 | &nbsp;&nbsp;&nbsp; $36847284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (c) | 33100000 | &nbsp;&nbsp;&nbsp; 32080885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, TBA (c) | 48240000 | &nbsp;&nbsp;&nbsp; 47966366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, TBA (c) | 51300000 | &nbsp;&nbsp;&nbsp; 52172282 |
| Uniform Mortgage-Backed Security, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000% , TBA (c) | 374100000 | &nbsp;&nbsp;&nbsp; 328570542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, TBA (c) | 83500000 | &nbsp;&nbsp;&nbsp; 76262711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, TBA (c) | 63900000 | &nbsp;&nbsp;&nbsp; 60206977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (c) | 92800000 | &nbsp;&nbsp;&nbsp; 90005691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, TBA (c) | 11140000 | &nbsp;&nbsp;&nbsp; 11040969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, TBA (c) | 401100000 | &nbsp;&nbsp;&nbsp; 404137895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, TBA (c) | 113100000 | &nbsp;&nbsp;&nbsp; 115519476 |
|  |  | &nbsp;&nbsp;&nbsp; 1513797510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $1,601,630,763) <br>|  | &nbsp;&nbsp;&nbsp; 1600521971 |
| **Corporate Bonds & Notes—42.4%** | **Corporate Bonds & Notes—42.4%** | **Corporate Bonds & Notes—42.4%** |
| **Aerospace/Defense — 0.5%** | **Aerospace/Defense — 0.5%** | **Aerospace/Defense — 0.5%** |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 02/01/26 | 12000000 | &nbsp;&nbsp;&nbsp; 11931554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.259%, 05/01/27 | 2600000 | &nbsp;&nbsp;&nbsp; 2675186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.298%, 05/01/29 | 300000 | &nbsp;&nbsp;&nbsp; 318374 |
| Spirit AeroSystems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 06/15/28 | 1600000 | &nbsp;&nbsp;&nbsp; 1597946 |
|  |  | &nbsp;&nbsp;&nbsp; 16523060 |
| **Agriculture — 0.6%** | **Agriculture — 0.6%** | **Agriculture — 0.6%** |
| BAT International Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.931%, 02/02/29 | 8300000 | &nbsp;&nbsp;&nbsp; 8716552 |
| Imperial Brands Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 07/26/29 (144A) | 12800000 | &nbsp;&nbsp;&nbsp; 12574056 |
|  |  | &nbsp;&nbsp;&nbsp; 21290608 |
| **Airlines — 0.4%** | **Airlines — 0.4%** | **Airlines — 0.4%** |
| Air Canada Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 07/15/31 (144A) | 834080 | &nbsp;&nbsp;&nbsp; 789783 |
| American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 03/22/29 | 824872 | &nbsp;&nbsp;&nbsp; 808288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 04/01/28 | 2164896 | &nbsp;&nbsp;&nbsp; 2151592 |
| British Airways Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/20/33 (144A) † | 951532 | &nbsp;&nbsp;&nbsp; 916754 |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/07/30 | 3118114 | &nbsp;&nbsp;&nbsp; 2969944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 01/07/30 | 1675838 | &nbsp;&nbsp;&nbsp; 1608388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/15/29 | 4720347 | &nbsp;&nbsp;&nbsp; 4851964 |
|  |  | &nbsp;&nbsp;&nbsp; 14096713 |
| **Auto Manufacturers — 3.8%** | **Auto Manufacturers — 3.8%** | **Auto Manufacturers — 3.8%** |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.985%, SOFR + 0.730%, 08/13/27 (a) | 6100000 | &nbsp;&nbsp;&nbsp; 6111041 |
| BMW U.S. Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/21/28 (144A) | 7300000 | &nbsp;&nbsp;&nbsp; 7406553 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** | **Auto Manufacturers—(Continued)** |
| Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/27 (144A) | 3200000 | &nbsp;&nbsp;&nbsp; $3232693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.113%, SOFR + 0.960%, 09/25/27 (144A) (a) | 8100000 | &nbsp;&nbsp;&nbsp; 8126568 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 02/16/28 | 2685000 | &nbsp;&nbsp;&nbsp; 2552711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.815%, 11/02/27 | 1632000 | &nbsp;&nbsp;&nbsp; 1592101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/17/27 | 4700000 | &nbsp;&nbsp;&nbsp; 4623149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/05/27 | 6900000 | &nbsp;&nbsp;&nbsp; 6969803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/08/29 | 200000 | &nbsp;&nbsp;&nbsp; 202958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.918%, 03/20/28 | 900000 | &nbsp;&nbsp;&nbsp; 915414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 11/04/27 | 3190000 | &nbsp;&nbsp;&nbsp; 3327134 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 04/04/28 | 5740000 | &nbsp;&nbsp;&nbsp; 5832273 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 09/15/28 (144A) | 13500000 | &nbsp;&nbsp;&nbsp; 12651803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 01/08/29 (144A) | 4500000 | &nbsp;&nbsp;&nbsp; 4607547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/30/26 (144A) | 5900000 | &nbsp;&nbsp;&nbsp; 5929892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 06/26/26 (144A) | 2000000 | &nbsp;&nbsp;&nbsp; 2018517 |
| Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 11/15/27 (144A) | 7300000 | &nbsp;&nbsp;&nbsp; 7416171 |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 09/16/26 (144A) | 13500000 | &nbsp;&nbsp;&nbsp; 13012870 |
| Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.345%, 09/17/27 (144A) | 5600000 | &nbsp;&nbsp;&nbsp; 5493047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 09/17/30 (144A) | 14700000 | &nbsp;&nbsp;&nbsp; 13848648 |
| Volkswagen Bank GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/31/26 (EUR) | 2000000 | &nbsp;&nbsp;&nbsp; 2347892 |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 09/11/27 (144A) | 3600000 | &nbsp;&nbsp;&nbsp; 3608744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/13/25 (144A) | 10900000 | &nbsp;&nbsp;&nbsp; 10896407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/27/28 (144A) | 5000000 | &nbsp;&nbsp;&nbsp; 5065322 |
|  |  | &nbsp;&nbsp;&nbsp; 137789258 |
| **Banks — 14.2%** | **Banks — 14.2%** | **Banks — 14.2%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.575%, 1Y H15 + 1.550%, 10/13/26 (144A) (a) | 7500000 | &nbsp;&nbsp;&nbsp; 7504345 |
| AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.608%, SOFR + 2.330%, 09/13/29 (144A) (a) | 6700000 | &nbsp;&nbsp;&nbsp; 7112304 |
| Banco Espirito Santo SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 05/08/17 (EUR) (d) | 1700000 | &nbsp;&nbsp;&nbsp; 439095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/18 (EUR) (d) | 3100000 | &nbsp;&nbsp;&nbsp; 800703 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.552%, 1Y H15 + 1.250%, 03/14/28 (a) | 7800000 | &nbsp;&nbsp;&nbsp; 7940887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.565%, 01/17/30 | 2200000 | &nbsp;&nbsp;&nbsp; 2296151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.607%, 11/07/28 | 3800000 | &nbsp;&nbsp;&nbsp; 4062925 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.705%, 3M TSFR + 1.774%, 04/24/28 (a) | 5700000 | &nbsp;&nbsp;&nbsp; 5663234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, SOFR + 1.290%, 01/20/27 (a) | 1900000 | &nbsp;&nbsp;&nbsp; 1903490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.202%, SOFR + 1.630%, 04/25/29 (a) | 6000000 | &nbsp;&nbsp;&nbsp; 6150379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.819%, SOFR + 1.570%, 09/15/29 (a) | 9700000 | &nbsp;&nbsp;&nbsp; 10143244 |
| Bank of America NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.268%, SOFR + 1.020%, 08/18/26 (a) | 7100000 | &nbsp;&nbsp;&nbsp; 7140355 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.689%, 06/28/28 (144A) | 8950000 | &nbsp;&nbsp;&nbsp; 9140783 |
| Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.896%, 07/13/26 (144A) | 5900000 | &nbsp;&nbsp;&nbsp; 5980658 |

---

**BHFTI-260**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 05/16/29 | 2000000 | &nbsp;&nbsp;&nbsp; $2029756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.437%, 1Y H15 + 3.500%, 11/02/33 (a) | 4300000 | &nbsp;&nbsp;&nbsp; 4933924 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5Y H15 + 3.340%, 02/25/31 (144A) (a) | 3700000 | &nbsp;&nbsp;&nbsp; 3378107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.497%, SOFR + 1.590%, 05/20/30 (144A) (a) | 9200000 | &nbsp;&nbsp;&nbsp; 9513509 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.281%, 05/30/29 (144A) | 2000000 | &nbsp;&nbsp;&nbsp; 2059632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.612%, SOFR + 1.980%, 10/19/27 (144A) (a) | 1900000 | &nbsp;&nbsp;&nbsp; 1942964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.714%, SOFR + 2.270%, 10/19/29 (144A) (a) | 7500000 | &nbsp;&nbsp;&nbsp; 7961994 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.684%, SOFR + 2.080%, 09/13/27 (144A) (a) | 6300000 | &nbsp;&nbsp;&nbsp; 6437225 |
| Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.580%, SOFR + 1.170%, 09/08/31 (a) | 2200000 | &nbsp;&nbsp;&nbsp; 2207227 |
| Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.488%, 12/04/26 | 7400000 | &nbsp;&nbsp;&nbsp; 7517229 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.070%, SOFR + 1.280%, 02/24/28 (a) | 8100000 | &nbsp;&nbsp;&nbsp; 7975728 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.247%, SOFR + 0.892%, 01/26/27 (144A) (a) | 4000000 | &nbsp;&nbsp;&nbsp; 3957870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.392%, SOFR + 1.210%, 09/11/28 (144A) (a) | 2600000 | &nbsp;&nbsp;&nbsp; 2618036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.316%, SOFR + 1.860%, 10/03/29 (144A) (a) | 4100000 | &nbsp;&nbsp;&nbsp; 4322343 |
| Danske Bank AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.298%, 1Y H15 + 1.750%, 04/01/28 (144A) (a) | 12000000 | &nbsp;&nbsp;&nbsp; 12011140 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.547%, SOFR + 3.043%, 09/18/31 (a) | 13000000 | &nbsp;&nbsp;&nbsp; 12323790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, SOFR + 1.594%, 02/08/28 (a) | 4700000 | &nbsp;&nbsp;&nbsp; 4785392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.819%, SOFR + 2.510%, 11/20/29 (a) | 8600000 | &nbsp;&nbsp;&nbsp; 9199064 |
| Goldman Sachs Bank USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.986%, SOFR + 0.750%, 05/21/27 (a) | 5050000 | &nbsp;&nbsp;&nbsp; 5067215 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.691%, 3M TSFR + 1.772%, 06/05/28 (a) | 6500000 | &nbsp;&nbsp;&nbsp; 6453251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.049%, SOFR + 1.210%, 07/23/30 (a) | 500000 | &nbsp;&nbsp;&nbsp; 512532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.325%, 3M TSFR + 2.012%, 10/28/27 (a) | 7500000 | &nbsp;&nbsp;&nbsp; 7613703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.484%, SOFR + 1.770%, 10/24/29 (a) | 5600000 | &nbsp;&nbsp;&nbsp; 5959404 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.130%, SOFR + 1.290%, 03/03/31 (a) | 7400000 | &nbsp;&nbsp;&nbsp; 7578652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.836%, SOFR + 1.570%, 08/14/27 (a) | 6700000 | &nbsp;&nbsp;&nbsp; 6757650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.254%, SOFR + 2.390%, 03/09/34 (a) | 2500000 | &nbsp;&nbsp;&nbsp; 2722782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.390%, SOFR + 3.350%, 11/03/28 (a) | 5900000 | &nbsp;&nbsp;&nbsp; 6266171 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 03/29/27 | 1100000 | &nbsp;&nbsp;&nbsp; 1095378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/06/26 (144A) | 6800000 | &nbsp;&nbsp;&nbsp; 6804644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.858%, SOFR + 1.010%, 03/25/29 (a) | 9200000 | &nbsp;&nbsp;&nbsp; 9321953 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.578%, SOFR + 0.885%, 04/22/27 (a) | 13300000 | &nbsp;&nbsp;&nbsp; 13108864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.960%, 3M TSFR + 1.507%, 01/29/27 (a) | 3200000 | &nbsp;&nbsp;&nbsp; 3196174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.323%, SOFR + 1.560%, 04/26/28 (a) | 500000 | &nbsp;&nbsp;&nbsp; 501235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.236%, SOFR + 0.930%, 07/22/28 (a) | 3400000 | &nbsp;&nbsp;&nbsp; 3422035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.299%, SOFR + 1.450%, 07/24/29 (a) | 7900000 | &nbsp;&nbsp;&nbsp; 8139610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.503%, SOFR + 1.200%, 01/23/28 (a) | 2100000 | &nbsp;&nbsp;&nbsp; 2116463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.070%, SOFR + 1.330%, 10/22/27 (a) | 7500000 | &nbsp;&nbsp;&nbsp; 7649133 |
| JPMorgan Chase Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, SOFR + 1.000%, 12/08/26 (a) | 7700000 | &nbsp;&nbsp;&nbsp; 7758520 |
| Lloyds Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 04/02/32 (e) | 7200000 | &nbsp;&nbsp;&nbsp; 5334566 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.462%, 1Y H15 + 1.375%, 01/05/28 (a) | 5900000 | &nbsp;&nbsp;&nbsp; $5987912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.985%, 1Y H15 + 1.480%, 08/07/27 (a) | 3500000 | &nbsp;&nbsp;&nbsp; 3550094 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.640%, 1Y H15 + 0.670%, 10/13/27 (a) | 10500000 | &nbsp;&nbsp;&nbsp; 10226101 |
| Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.979%, 3M TSFR + 1.532%, 09/08/31 (a) | 4800000 | &nbsp;&nbsp;&nbsp; 4275500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.201%, 3M TSFR + 1.772%, 07/10/31 (a) | 7400000 | &nbsp;&nbsp;&nbsp; 6683165 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.210%, SOFR + 1.610%, 04/20/28 (a) | 5400000 | &nbsp;&nbsp;&nbsp; 5405872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.123%, SOFR + 1.730%, 02/01/29 (a) | 4700000 | &nbsp;&nbsp;&nbsp; 4801275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.173%, SOFR + 1.450%, 01/16/30 (a) | 3400000 | &nbsp;&nbsp;&nbsp; 3494433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.449%, SOFR + 1.630%, 07/20/29 (a) | 7900000 | &nbsp;&nbsp;&nbsp; 8163146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.407%, SOFR + 1.830%, 11/01/29 (a) | 4900000 | &nbsp;&nbsp;&nbsp; 5208043 |
| Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.968%, SOFR + 0.930%, 07/14/28 (a) | 6700000 | &nbsp;&nbsp;&nbsp; 6799048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.398%, SOFR + 1.080%, 01/14/28 (a) | 7900000 | &nbsp;&nbsp;&nbsp; 7939737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.504%, SOFR + 0.865%, 05/26/28 (a) | 7800000 | &nbsp;&nbsp;&nbsp; 7971909 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.778%, 1Y H15 + 1.500%, 03/01/35 (a) | 2800000 | &nbsp;&nbsp;&nbsp; 2952696 |
| NatWest Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.789%, 03/21/28 (144A) | 10000000 | &nbsp;&nbsp;&nbsp; 10175281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 03/21/30 (144A) | 5500000 | &nbsp;&nbsp;&nbsp; 5647320 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.851%, 12/14/26 (144A) | 1300000 | &nbsp;&nbsp;&nbsp; 1314104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/19/27 | 6900000 | &nbsp;&nbsp;&nbsp; 6979662 |
| Santander U.K. Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.858%, SOFR + 1.554%, 09/11/30 (a) | 5675000 | &nbsp;&nbsp;&nbsp; 5739495 |
| Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.447%, 1Y H15 + 2.300%, 01/12/27 (144A) (a) | 5000000 | &nbsp;&nbsp;&nbsp; 5024303 |
| Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.301%, 1Y H15 + 2.450%, 01/09/29 (144A) (a) | 5500000 | &nbsp;&nbsp;&nbsp; 5721943 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.902%, 09/17/28 | 9800000 | &nbsp;&nbsp;&nbsp; 9200398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 07/09/29 | 5900000 | &nbsp;&nbsp;&nbsp; 6112320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.464%, 01/13/26 | 2900000 | &nbsp;&nbsp;&nbsp; 2910271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, SOFR + 1.170%, 07/09/29 (a) | 1800000 | &nbsp;&nbsp;&nbsp; 1819605 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.701%, 06/05/27 (144A) | 1100000 | &nbsp;&nbsp;&nbsp; 1105174 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/15/26 (144A) | 10200000 | &nbsp;&nbsp;&nbsp; 10199941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.699%, 1Y H15 + 1.770%, 02/08/35 (144A) (a) | 4900000 | &nbsp;&nbsp;&nbsp; 5162196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.711%, 1Y H15 + 1.550%, 01/12/27 (144A) (a) | 4000000 | &nbsp;&nbsp;&nbsp; 4014133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.246%, 1Y H15 + 1.800%, 09/22/29 (144A) (a) | 5800000 | &nbsp;&nbsp;&nbsp; 6119251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.442%, SOFR + 3.700%, 08/11/28 (144A) (a) | 7000000 | &nbsp;&nbsp;&nbsp; 7273259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.537%, SOFR + 3.920%, 08/12/33 (144A) (a) | 5650000 | &nbsp;&nbsp;&nbsp; 6232423 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.741%, 3M EURIBOR + 1.850%, 05/04/30 (EUR) (a) | 2600000 | &nbsp;&nbsp;&nbsp; 2931215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.393%, SOFR + 2.100%, 06/02/28 (a) | 5400000 | &nbsp;&nbsp;&nbsp; 5249369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.574%, SOFR + 1.740%, 07/25/29 (a) | 7900000 | &nbsp;&nbsp;&nbsp; 8187180 |
| Wells Fargo Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.252%, SOFR + 1.070%, 12/11/26 (a) | 7300000 | &nbsp;&nbsp;&nbsp; 7358529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 08/07/26 | 4700000 | &nbsp;&nbsp;&nbsp; 4751469 |
|  |  | &nbsp;&nbsp;&nbsp; 511521190 |

---

**BHFTI-261**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/01/30 (144A) | 3437000 | &nbsp;&nbsp;&nbsp; $3075306 |
| Syensqo Finance America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 06/04/29 (144A) | 1900000 | &nbsp;&nbsp;&nbsp; 1966900 |
|  |  | &nbsp;&nbsp;&nbsp; 5042206 |
| **Commercial Services — 1.4%** | **Commercial Services — 1.4%** | **Commercial Services — 1.4%** |
| Beignet Investor LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.581%, 05/30/49 (144A) | 41900000 | &nbsp;&nbsp;&nbsp; 41900000 |
| Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 08/09/28 | 7500000 | &nbsp;&nbsp;&nbsp; 7535392 |
|  |  | &nbsp;&nbsp;&nbsp; 49435392 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 02/15/29 | 4800000 | &nbsp;&nbsp;&nbsp; 4788513 |
| **Diversified Financial Services — 3.2%** | **Diversified Financial Services — 3.2%** | **Diversified Financial Services — 3.2%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/29/26 | 7450000 | &nbsp;&nbsp;&nbsp; 7319512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 10/01/25 | 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 01/15/27 | 4900000 | &nbsp;&nbsp;&nbsp; 5005019 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 06/25/26 | 5000000 | &nbsp;&nbsp;&nbsp; 5033102 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.548%, SOFR + 1.780%, 07/31/33 (a) | 1700000 | &nbsp;&nbsp;&nbsp; 1706296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.848%, SOFR + 2.820%, 01/03/30 (a) | 7000000 | &nbsp;&nbsp;&nbsp; 7404898 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.645%, SOFR + 0.750%, 04/23/27 (a) | 7700000 | &nbsp;&nbsp;&nbsp; 7759866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.338%, SOFR + 1.330%, 10/30/26 (a) | 5000000 | &nbsp;&nbsp;&nbsp; 5008493 |
| Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/15/29 (144A) | 3200000 | &nbsp;&nbsp;&nbsp; 3277705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/25/28 (144A) | 1900000 | &nbsp;&nbsp;&nbsp; 2020802 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/01/29 (144A) | 7900000 | &nbsp;&nbsp;&nbsp; 8178950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/04/28 (144A) | 6300000 | &nbsp;&nbsp;&nbsp; 6571645 |
| BGC Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/25/28 | 4000000 | &nbsp;&nbsp;&nbsp; 4271188 |
| Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 06/10/31 | 13000000 | &nbsp;&nbsp;&nbsp; 11828249 |
| Cantor Fitzgerald LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 12/12/28 (144A) | 3300000 | &nbsp;&nbsp;&nbsp; 3525712 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.927%, SOFR + 2.057%, 05/10/28 (a) | 10775000 | &nbsp;&nbsp;&nbsp; 10885972 |
| Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.172%, 07/14/28 | 500000 | &nbsp;&nbsp;&nbsp; 472400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.679%, 07/16/30 | 9600000 | &nbsp;&nbsp;&nbsp; 8823306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.615%, SOFR + 1.250%, 07/02/27 (a) | 2900000 | &nbsp;&nbsp;&nbsp; 2923609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 01/09/26 | 5100000 | &nbsp;&nbsp;&nbsp; 5119397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.842%, 01/18/28 | 4700000 | &nbsp;&nbsp;&nbsp; 4859609 |
|  |  | &nbsp;&nbsp;&nbsp; 114995730 |
| **Electric — 4.7%** | **Electric — 4.7%** | **Electric — 4.7%** |
| Abu Dhabi National Energy Co. PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/09/31 (144A) | 7000000 | &nbsp;&nbsp;&nbsp; 7012439 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 01/15/31 | 3000000 | &nbsp;&nbsp;&nbsp; $2686625 |
| Alliant Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 03/30/29 (144A) | 3800000 | &nbsp;&nbsp;&nbsp; 3976211 |
| Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/29 | 7200000 | &nbsp;&nbsp;&nbsp; 7359625 |
| American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 01/15/29 | 1700000 | &nbsp;&nbsp;&nbsp; 1752845 |
| Black Hills Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 01/31/31 | 5100000 | &nbsp;&nbsp;&nbsp; 5099757 |
| Consumers Securitization Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.210%, 09/01/31 | 7700000 | &nbsp;&nbsp;&nbsp; 7932791 |
| DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 03/01/29 | 3000000 | &nbsp;&nbsp;&nbsp; 3073951 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/15/31 | 7600000 | &nbsp;&nbsp;&nbsp; 6681429 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/27 | 5519000 | &nbsp;&nbsp;&nbsp; 5583458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/30 | 6200000 | &nbsp;&nbsp;&nbsp; 6446978 |
| Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/26/29 (144A) | 7800000 | &nbsp;&nbsp;&nbsp; 7990460 |
| Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 02/01/29 | 5700000 | &nbsp;&nbsp;&nbsp; 5968100 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 07/15/27 | 1300000 | &nbsp;&nbsp;&nbsp; 1292027 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 05/15/28 | 4400000 | &nbsp;&nbsp;&nbsp; 4449591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 05/15/26 | 6900000 | &nbsp;&nbsp;&nbsp; 6911594 |
| Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 05/16/28 | 5200000 | &nbsp;&nbsp;&nbsp; 5277069 |
| Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 01/15/29 (144A) | 3600000 | &nbsp;&nbsp;&nbsp; 3595422 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 03/15/28 | 3600000 | &nbsp;&nbsp;&nbsp; 3666633 |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 01/01/26 | 10900000 | &nbsp;&nbsp;&nbsp; 10865312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 12/01/27 | 1600000 | &nbsp;&nbsp;&nbsp; 1565879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 07/01/30 | 5000000 | &nbsp;&nbsp;&nbsp; 4965269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/04/28 | 5100000 | &nbsp;&nbsp;&nbsp; 5171013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 06/15/27 | 5000000 | &nbsp;&nbsp;&nbsp; 5083588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 05/15/29 | 5700000 | &nbsp;&nbsp;&nbsp; 5867243 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 02/15/34 | 7900000 | &nbsp;&nbsp;&nbsp; 8092188 |
| Pinnacle West Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 05/15/28 | 3000000 | &nbsp;&nbsp;&nbsp; 3047710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/15/30 | 1000000 | &nbsp;&nbsp;&nbsp; 1028388 |
| &nbsp;&nbsp;&nbsp;&nbsp; ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 <br> Subsidiaries<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/14/28 (144A) | 13100000 | &nbsp;&nbsp;&nbsp; 12651425 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 03/01/48 | 800000 | &nbsp;&nbsp;&nbsp; 611246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 10/01/43 | 400000 | &nbsp;&nbsp;&nbsp; 340686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/15/30 | 6300000 | &nbsp;&nbsp;&nbsp; 6423944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/01/27 | 3000000 | &nbsp;&nbsp;&nbsp; 3078062 |

---

**BHFTI-262**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/15/27 | 4525000 | &nbsp;&nbsp;&nbsp; $4288062 |
|  |  | &nbsp;&nbsp;&nbsp; 169837020 |
| **Electronics — 0.3%** | **Electronics — 0.3%** | **Electronics — 0.3%** |
| Flex Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/29 | 8160000 | &nbsp;&nbsp;&nbsp; 8245357 |
| Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/02/34 (EUR) | 1760000 | &nbsp;&nbsp;&nbsp; 2143305 |
|  |  | &nbsp;&nbsp;&nbsp; 10388662 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/01/29 | 3800000 | &nbsp;&nbsp;&nbsp; 3894876 |
| **Food — 0.6%** | **Food — 0.6%** | **Food — 0.6%** |
| Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 11/01/28 | 5000000 | &nbsp;&nbsp;&nbsp; 5053018 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 03/01/30 (144A) | 7400000 | &nbsp;&nbsp;&nbsp; 7538952 |
| Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 07/03/31 (CAD) | 10700000 | &nbsp;&nbsp;&nbsp; 8064249 |
|  |  | &nbsp;&nbsp;&nbsp; 20656219 |
| **Gas — 0.6%** | **Gas — 0.6%** | **Gas — 0.6%** |
| National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/26 | 6400000 | &nbsp;&nbsp;&nbsp; 6467612 |
| Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 04/15/27 | 12500000 | &nbsp;&nbsp;&nbsp; 12312526 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/36 (144A) | 2900000 | &nbsp;&nbsp;&nbsp; 3080313 |
|  |  | &nbsp;&nbsp;&nbsp; 21860451 |
| **Healthcare-Services — 1.0%** | **Healthcare-Services — 1.0%** | **Healthcare-Services — 1.0%** |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/30 | 5900000 | &nbsp;&nbsp;&nbsp; 5271871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/27 | 2300000 | &nbsp;&nbsp;&nbsp; 2258640 |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/15/30 | 5800000 | &nbsp;&nbsp;&nbsp; 5817095 |
| Fresenius Medical Care U.S. Finance III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 12/01/26 (144A) | 12100000 | &nbsp;&nbsp;&nbsp; 11720513 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 03/15/27 | 7300000 | &nbsp;&nbsp;&nbsp; 7197356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/15/29 | 5200000 | &nbsp;&nbsp;&nbsp; 5042780 |
|  |  | &nbsp;&nbsp;&nbsp; 37308255 |
| **Insurance — 1.5%** | **Insurance — 1.5%** | **Insurance — 1.5%** |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.339%, 01/15/27 (144A) | 7800000 | &nbsp;&nbsp;&nbsp; 7908260 |
| Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/02/26 (144A) | 2600000 | &nbsp;&nbsp;&nbsp; 2631026 |
| Essent Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/29 | 2900000 | &nbsp;&nbsp;&nbsp; 3037792 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/04/29 | 4100000 | &nbsp;&nbsp;&nbsp; 4274690 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Insurance—(Continued)** | **Insurance—(Continued)** | **Insurance—(Continued)** |
| Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 03/15/30 | 2900000 | &nbsp;&nbsp;&nbsp; $2947097 |
| MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 12/07/27 (144A) | 7900000 | &nbsp;&nbsp;&nbsp; 8061975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.311%, SOFR + 0.980%, 07/10/26 (144A) (a) | 3800000 | &nbsp;&nbsp;&nbsp; 3822130 |
| New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.898%, SOFR + 0.580%, 01/16/26 (144A) (a) | 7800000 | &nbsp;&nbsp;&nbsp; 7808379 |
| Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/18/28 (144A) | 5500000 | &nbsp;&nbsp;&nbsp; 5697344 |
| RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.448%, 05/24/29 (144A) | 6000000 | &nbsp;&nbsp;&nbsp; 6225485 |
|  |  | &nbsp;&nbsp;&nbsp; 52414178 |
| **Investment Companies — 0.6%** | **Investment Companies — 0.6%** | **Investment Companies — 0.6%** |
| Abu Dhabi Developmental Holding Co. PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/02/31 (144A) | 5300000 | &nbsp;&nbsp;&nbsp; 5303364 |
| ARES Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 01/15/31 | 3600000 | &nbsp;&nbsp;&nbsp; 3574034 |
| Credit Opportunities Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.740%, 03/20/30 (f) (g) | 1500000 | &nbsp;&nbsp;&nbsp; 1531177 |
| FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/15/29 | 7400000 | &nbsp;&nbsp;&nbsp; 7579770 |
| HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 01/15/31 | 4500000 | &nbsp;&nbsp;&nbsp; 4622740 |
|  |  | &nbsp;&nbsp;&nbsp; 22611085 |
| **Lodging — 0.4%** | **Lodging — 0.4%** | **Lodging — 0.4%** |
| Choice Hotels International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 12/01/29 | 2500000 | &nbsp;&nbsp;&nbsp; 2387515 |
| Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 03/15/26 | 2700000 | &nbsp;&nbsp;&nbsp; 2702010 |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/29 | 7800000 | &nbsp;&nbsp;&nbsp; 8123892 |
| Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/31 | 3000000 | &nbsp;&nbsp;&nbsp; 2986878 |
|  |  | &nbsp;&nbsp;&nbsp; 16200295 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/41 | 13300000 | &nbsp;&nbsp;&nbsp; 9703729 |
| Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.709%, 01/25/29 | 4500000 | &nbsp;&nbsp;&nbsp; 4557804 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 01/15/27 | 300000 | &nbsp;&nbsp;&nbsp; 293839 |
|  |  | &nbsp;&nbsp;&nbsp; 14555372 |
| **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** |
| Adnoc Murban Rsc Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/11/29 (144A) | 3900000 | &nbsp;&nbsp;&nbsp; 3916582 |
| Harbour Energy PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.327%, 04/01/35 (144A) | 3700000 | &nbsp;&nbsp;&nbsp; 3799586 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 02/07/33 | 3000000 | &nbsp;&nbsp;&nbsp; 3481500 |

---

**BHFTI-263**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** | **Oil & Gas—(Continued)** |
| Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 03/29/26 | 4000000 | &nbsp;&nbsp;&nbsp; $4019548 |
|  |  | &nbsp;&nbsp;&nbsp; 15217216 |
| **Pharmaceuticals — 0.9%** | **Pharmaceuticals — 0.9%** | **Pharmaceuticals — 0.9%** |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 05/14/26 | 1300000 | &nbsp;&nbsp;&nbsp; 1294015 |
| Bayer U.S. Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/21/26 (144A) | 3900000 | &nbsp;&nbsp;&nbsp; 3967418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/21/29 (144A) | 7900000 | &nbsp;&nbsp;&nbsp; 8307120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/21/30 (144A) | 6900000 | &nbsp;&nbsp;&nbsp; 7374553 |
| Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 02/22/29 | 7800000 | &nbsp;&nbsp;&nbsp; 8009023 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/01/30 | 3900000 | &nbsp;&nbsp;&nbsp; 3777964 |
| CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.943%, 01/10/30 | 364035 | &nbsp;&nbsp;&nbsp; 380375 |
|  |  | &nbsp;&nbsp;&nbsp; 33110468 |
| **Pipelines — 1.0%** | **Pipelines — 1.0%** | **Pipelines — 1.0%** |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/30/27 | 9000000 | &nbsp;&nbsp;&nbsp; 9098211 |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.927%, 08/15/30 (144A) | 3000000 | &nbsp;&nbsp;&nbsp; 3173863 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 11/15/26 | 2700000 | &nbsp;&nbsp;&nbsp; 2747243 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 12/01/26 | 3800000 | &nbsp;&nbsp;&nbsp; 3870821 |
| Greensaif Pipelines Bidco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.853%, 02/23/36 (144A) | 6700000 | &nbsp;&nbsp;&nbsp; 7025291 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/33 | 1500000 | &nbsp;&nbsp;&nbsp; 1500373 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/01/29 | 1900000 | &nbsp;&nbsp;&nbsp; 1956838 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 02/01/32 (144A) | 3800000 | &nbsp;&nbsp;&nbsp; 4137148 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 01/15/29 | 1000000 | &nbsp;&nbsp;&nbsp; 1052037 |
|  |  | &nbsp;&nbsp;&nbsp; 34561825 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| Logicor Financing SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 07/15/27 (EUR) | 4500000 | &nbsp;&nbsp;&nbsp; 5174918 |
| Ontario Teachers' Cadillac Fairview Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/20/27 (144A) | 1700000 | &nbsp;&nbsp;&nbsp; 1689117 |
|  |  | &nbsp;&nbsp;&nbsp; 6864035 |
| **Real Estate Investment Trusts — 3.2%** | **Real Estate Investment Trusts — 3.2%** | **Real Estate Investment Trusts — 3.2%** |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/15/28 | 1900000 | &nbsp;&nbsp;&nbsp; 1895383 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 11/15/28 | 1200000 | &nbsp;&nbsp;&nbsp; 1253071 |
| Boston Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/01/33 | 1811000 | &nbsp;&nbsp;&nbsp; 1481714 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/15/26 | 5500000 | &nbsp;&nbsp;&nbsp; $5490736 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 03/15/27 | 12500000 | &nbsp;&nbsp;&nbsp; 12259048 |
| EPR Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/15/29 | 2500000 | &nbsp;&nbsp;&nbsp; 2406775 |
| Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 10/15/31 | 8500000 | &nbsp;&nbsp;&nbsp; 7484963 |
| Goodman U.S. Finance Three LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/15/28 (144A) | 10800000 | &nbsp;&nbsp;&nbsp; 10656025 |
| Hudson Pacific Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 04/01/29 | 2400000 | &nbsp;&nbsp;&nbsp; 2233342 |
| Kilroy Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 11/15/33 | 13100000 | &nbsp;&nbsp;&nbsp; 10722301 |
| Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/28 | 8900000 | &nbsp;&nbsp;&nbsp; 8973946 |
| Piedmont Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 08/15/30 | 12900000 | &nbsp;&nbsp;&nbsp; 11722720 |
| Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 01/15/32 | 1200000 | &nbsp;&nbsp;&nbsp; 1056265 |
| SBA Tower Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.328%, 07/15/52 (144A) | 13000000 | &nbsp;&nbsp;&nbsp; 12352215 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 01/15/27 (144A) | 13300000 | &nbsp;&nbsp;&nbsp; 13185793 |
| Sun Communities Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 07/15/31 | 8200000 | &nbsp;&nbsp;&nbsp; 7417193 |
| UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/27 | 1000000 | &nbsp;&nbsp;&nbsp; 989289 |
| Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/01/26 | 1102000 | &nbsp;&nbsp;&nbsp; 1102032 |
| Weyerhaeuser Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/26 | 4000000 | &nbsp;&nbsp;&nbsp; 4010640 |
|  |  | &nbsp;&nbsp;&nbsp; 116693451 |
| **Retail — 0.1%** | **Retail — 0.1%** | **Retail — 0.1%** |
| CK Hutchison International 23 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/21/28 (144A) | 2700000 | &nbsp;&nbsp;&nbsp; 2738791 |
| **Savings & Loans — 0.2%** | **Savings & Loans — 0.2%** | **Savings & Loans — 0.2%** |
| Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1Y UKG + 3.750%, 09/03/27 (GBP) (a) | 500000 | &nbsp;&nbsp;&nbsp; 669921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.557%, SOFR + 1.910%, 10/18/27 (144A) (a) | 7500000 | &nbsp;&nbsp;&nbsp; 7670760 |
|  |  | &nbsp;&nbsp;&nbsp; 8340681 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.187%, 11/15/36 (144A) | 3600000 | &nbsp;&nbsp;&nbsp; 3072159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 11/15/32 | 7400000 | &nbsp;&nbsp;&nbsp; 7304424 |
|  |  | &nbsp;&nbsp;&nbsp; 10376583 |
| **Shipbuilding — 0.4%** | **Shipbuilding — 0.4%** | **Shipbuilding — 0.4%** |
| Huntington Ingalls Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.043%, 08/16/28 | 13800000 | &nbsp;&nbsp;&nbsp; 12961018 |

---

**BHFTI-264**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Software — 0.8%** | **Software — 0.8%** | **Software — 0.8%** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 02/15/31 | 1300000 | &nbsp;&nbsp;&nbsp; $1304820 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/01/40 | 1400000 | &nbsp;&nbsp;&nbsp; 1124398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/01/50 | 5600000 | &nbsp;&nbsp;&nbsp; 3942173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 09/26/30 | 9100000 | &nbsp;&nbsp;&nbsp; 9095535 |
| VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 08/15/26 | 13500000 | &nbsp;&nbsp;&nbsp; 13199907 |
|  |  | &nbsp;&nbsp;&nbsp; 28666833 |
| **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |
| NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.567%, 07/16/27 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 302163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.620%, 07/16/28 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 302966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.876%, 07/16/30 (144A) | 500000 | &nbsp;&nbsp;&nbsp; 508036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.643%, SOFR + 1.310%, 07/16/30 (144A) (a) | 800000 | &nbsp;&nbsp;&nbsp; 815038 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 02/15/31 | 3900000 | &nbsp;&nbsp;&nbsp; 3543621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/01/29 | 6700000 | &nbsp;&nbsp;&nbsp; 6690839 |
| Vmed O2 U.K. Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 04/15/32 (144A) (EUR) | 1800000 | &nbsp;&nbsp;&nbsp; 2166353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/15/32 (144A) | 1500000 | &nbsp;&nbsp;&nbsp; 1575957 |
|  |  | &nbsp;&nbsp;&nbsp; 15904973 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| Thames Water Super Senior Issuer PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 10/10/27 (144A) (GBP) † | 30066 | &nbsp;&nbsp;&nbsp; 45067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $1,541,016,351) <br>|  | &nbsp;&nbsp;&nbsp; 1530690024 |
| **U.S. Treasury & Government Agencies—21.2%** | **U.S. Treasury & Government Agencies—21.2%** | **U.S. Treasury & Government Agencies—21.2%** |
| **U.S. Treasury — 21.2%** | **U.S. Treasury — 21.2%** | **U.S. Treasury — 21.2%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 08/15/50 | 34100000 | &nbsp;&nbsp;&nbsp; 17145906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 (h) | 6700000 | &nbsp;&nbsp;&nbsp; 3594969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/15/51 | 27500000 | &nbsp;&nbsp;&nbsp; 15708301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 2400000 | &nbsp;&nbsp;&nbsp; 1357687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/15/50 (h) | 6400000 | &nbsp;&nbsp;&nbsp; 3827250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/15/51 | 19300000 | &nbsp;&nbsp;&nbsp; 11307086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/49 | 29239400 | &nbsp;&nbsp;&nbsp; 18662961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 16970000 | &nbsp;&nbsp;&nbsp; 11103418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 05/15/51 | 19070400 | &nbsp;&nbsp;&nbsp; 12269121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/42 | 39000000 | &nbsp;&nbsp;&nbsp; 30351445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/15/42 (i) (j) | 2800000 | &nbsp;&nbsp;&nbsp; 2168578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/47 (h) (i) | 3200000 | &nbsp;&nbsp;&nbsp; 2319750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/43 | 83700000 | &nbsp;&nbsp;&nbsp; 65573719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 08/15/45 (h) (i) | 3100000 | &nbsp;&nbsp;&nbsp; 2355637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/49 | 29900000 | &nbsp;&nbsp;&nbsp; 21812984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/48 (h) | 9900000 | &nbsp;&nbsp;&nbsp; 7476047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/48 (h) | 3000000 | &nbsp;&nbsp;&nbsp; 2255625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/49 | 20000000 | &nbsp;&nbsp;&nbsp; 14975000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 08/15/44 (k) | 112000000 | &nbsp;&nbsp;&nbsp; 89674375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 05/15/48 (h) | 3400000 | &nbsp;&nbsp;&nbsp; 2621719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/15/42 | 10500000 | &nbsp;&nbsp;&nbsp; 8820820 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 05/15/44 | 12200000 | &nbsp;&nbsp;&nbsp; $10181281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/48 (i) (j) (l) | 6500000 | &nbsp;&nbsp;&nbsp; 5221582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/43 | 14400000 | &nbsp;&nbsp;&nbsp; 13069688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/15/39 | 9600000 | &nbsp;&nbsp;&nbsp; 9451500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/15/54 (k) | 11300000 | &nbsp;&nbsp;&nbsp; 10431312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/15/39 | 57100000 | &nbsp;&nbsp;&nbsp; 56636062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/39 | 15100000 | &nbsp;&nbsp;&nbsp; 15212070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 (h) (l) | 5100000 | &nbsp;&nbsp;&nbsp; 4910543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/40 | 12800000 | &nbsp;&nbsp;&nbsp; 13027500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/15/44 (h) (i) | 900000 | &nbsp;&nbsp;&nbsp; 893426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/15/54 | 17000000 | &nbsp;&nbsp;&nbsp; 16702500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 08/15/45 | 42300000 | &nbsp;&nbsp;&nbsp; 43245141 |
| U.S. Treasury Inflation-Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 02/15/51 (m) | 29778000 | &nbsp;&nbsp;&nbsp; 16499532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 02/15/52 (m) | 3945428 | &nbsp;&nbsp;&nbsp; 2136180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 02/15/50 (m) | 11685171 | &nbsp;&nbsp;&nbsp; 6905031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 02/15/43 (m) | 1686036 | &nbsp;&nbsp;&nbsp; 1279609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 02/15/45 (m) | 24555041 | &nbsp;&nbsp;&nbsp; 18296529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 02/15/47 (m) | 7226280 | &nbsp;&nbsp;&nbsp; 5332241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 02/15/46 (m) | 2590308 | &nbsp;&nbsp;&nbsp; 1996030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 02/15/49 (m) | 2824206 | &nbsp;&nbsp;&nbsp; 2082307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 02/15/44 (m) | 7207460 | &nbsp;&nbsp;&nbsp; 6159772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/15/53 (m) | 4564224 | &nbsp;&nbsp;&nbsp; 3651291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 02/15/54 (m) | 12946365 | &nbsp;&nbsp;&nbsp; 11947413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 02/15/55 (m) | 2559275 | &nbsp;&nbsp;&nbsp; 2498292 |
| U.S. Treasury Inflation-Indexed Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 04/15/28 (h) (j) (k) (m) | 25092935 | &nbsp;&nbsp;&nbsp; 25188741 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 08/31/30 | 57960000 | &nbsp;&nbsp;&nbsp; 57661144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/31/32 (j) | 1150000 | &nbsp;&nbsp;&nbsp; 1146586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/15/35 (k) | 44920000 | &nbsp;&nbsp;&nbsp; 45284975 |
| U.S. Treasury STRIPS Coupon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/40 | 4100000 | &nbsp;&nbsp;&nbsp; 2031668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/15/41 | 1000000 | &nbsp;&nbsp;&nbsp; 475682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 08/15/41 | 1600000 | &nbsp;&nbsp;&nbsp; 749170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/41 | 300000 | &nbsp;&nbsp;&nbsp; 138511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 02/15/42 | 21300000 | &nbsp;&nbsp;&nbsp; 9694617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $887,617,758) <br>|  | &nbsp;&nbsp;&nbsp; 765520324 |
| **Non-Agency Mortgage-Backed Securities—11.3%** | **Non-Agency Mortgage-Backed Securities—11.3%** | **Non-Agency Mortgage-Backed Securities—11.3%** |
| **Collateralized Mortgage Obligations — 5.6%** | **Collateralized Mortgage Obligations — 5.6%** | **Collateralized Mortgage Obligations — 5.6%** |
| Adjustable Rate Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.783%, 11/25/35 (a) | 102446 | &nbsp;&nbsp;&nbsp; 71266 |
| American Home Mortgage Investment Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 1M TSFR + 0.474%, 12/25/46 (a) | 8400775 | &nbsp;&nbsp;&nbsp; 7125479 |
| Banc of America Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.310%, -4x 1M TSFR + 27.942%, 11/25/46 (a) | 297777 | &nbsp;&nbsp;&nbsp; 280928 |
| Banc of America Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.971%, 01/20/47 (a) | 38729 | &nbsp;&nbsp;&nbsp; 33532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.334%, 05/25/35 (a) | 138576 | &nbsp;&nbsp;&nbsp; 129653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.063%, 02/20/36 (a) | 309617 | &nbsp;&nbsp;&nbsp; 295745 |
| Banc of America Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/25/37 | 3763227 | &nbsp;&nbsp;&nbsp; 2984443 |

---

**BHFTI-265**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| Bayview MSR Opportunity Master Fund Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/25/51 (144A) (a) | 10177287 | &nbsp;&nbsp;&nbsp; $8806539 |
| BCAP LLC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 1M TSFR + 0.534%, 05/25/47 (a) | 2824751 | &nbsp;&nbsp;&nbsp; 2720077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/26/36 (144A) (a) | 1842491 | &nbsp;&nbsp;&nbsp; 695588 |
| Bear Stearns ALT-A Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.467%, 11/25/36 (a) | 1369686 | &nbsp;&nbsp;&nbsp; 775657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.475%, 11/25/36 (a) | 1213208 | &nbsp;&nbsp;&nbsp; 614676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.714%, 05/25/36 (a) | 962845 | &nbsp;&nbsp;&nbsp; 455659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 09/25/35 (a) | 320476 | &nbsp;&nbsp;&nbsp; 174459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.425%, 05/25/35 (a) | 199795 | &nbsp;&nbsp;&nbsp; 191254 |
| Bear Stearns ARM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.142%, 10/25/35 (a) | 362556 | &nbsp;&nbsp;&nbsp; 361656 |
| Bear Stearns Structured Products, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.965%, 12/26/46 (a) | 253869 | &nbsp;&nbsp;&nbsp; 200252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 01/26/36 (a) | 240290 | &nbsp;&nbsp;&nbsp; 167919 |
| Chase Home Lending Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 09/25/63 (144A) (a) | 6272261 | &nbsp;&nbsp;&nbsp; 5680187 |
| Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.469%, 09/25/36 (a) | 665408 | &nbsp;&nbsp;&nbsp; 566502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.619%, 03/25/37 (a) | 390556 | &nbsp;&nbsp;&nbsp; 367719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.739%, 12/25/35 (a) | 79616 | &nbsp;&nbsp;&nbsp; 75816 |
| Chevy Chase Funding LLC Mortgage-Backed Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.522%, 1M TSFR + 0.364%, 08/25/35 (144A) (a) | 5870 | &nbsp;&nbsp;&nbsp; 5698 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.115%, 09/20/36 (a) | 988711 | &nbsp;&nbsp;&nbsp; 875048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 1M TSFR + 0.514%, 04/25/46 (a) | 913584 | &nbsp;&nbsp;&nbsp; 848456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 1M TSFR + 0.754%, 03/25/35 (a) | 177936 | &nbsp;&nbsp;&nbsp; 177131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/25/37 | 878125 | &nbsp;&nbsp;&nbsp; 398849 |
| Citicorp Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/25/37 | 651077 | &nbsp;&nbsp;&nbsp; 572688 |
| Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.112%, 10/25/46 (a) | 392543 | &nbsp;&nbsp;&nbsp; 347187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1Y H15 + 2.100%, 09/25/35 (a) | 161211 | &nbsp;&nbsp;&nbsp; 163161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 1Y H15 + 2.150%, 09/25/35 (a) | 24884 | &nbsp;&nbsp;&nbsp; 24722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.480%, 1Y H15 + 2.400%, 10/25/35 (a) | 328668 | &nbsp;&nbsp;&nbsp; 342561 |
| CitiMortgage Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.922%, 1M TSFR + 0.764%, 10/25/36 (a) | 3128262 | &nbsp;&nbsp;&nbsp; 2417625 |
| Countrywide Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.728%, -1x 1M TSFR + 4.886%, 05/25/35 (a) (b) | 332967 | &nbsp;&nbsp;&nbsp; 19517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.792%, 1M TSFR + 0.634%, 06/25/46 (a) | 3553115 | &nbsp;&nbsp;&nbsp; 3164508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/25/36 | 1246072 | &nbsp;&nbsp;&nbsp; 836221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.633%, 12M MTA + 1.480%, 01/25/36 (a) | 307157 | &nbsp;&nbsp;&nbsp; 292471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/25/35 | 5885199 | &nbsp;&nbsp;&nbsp; 4639616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1M TSFR + 6.000%, 08/25/36 (a) | 1338317 | &nbsp;&nbsp;&nbsp; 1275269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/25/37 | 7327142 | &nbsp;&nbsp;&nbsp; 2761843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/25/37 | 2526887 | &nbsp;&nbsp;&nbsp; 1126190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/25/37 | 3787068 | &nbsp;&nbsp;&nbsp; 1930378 |
| Credit Suisse First Boston Mortgage Securities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.063%, 03/25/32 (144A) (a) | 16745 | &nbsp;&nbsp;&nbsp; 16144 |
| CSFB Mortgage-Backed Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/35 | 753275 | &nbsp;&nbsp;&nbsp; 558600 |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.494%, 10/27/36 (144A) (a) | 6243059 | &nbsp;&nbsp;&nbsp; 5753539 |
| DSLA Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.104%, 07/19/44 (a) | 121322 | &nbsp;&nbsp;&nbsp; 115199 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| First Horizon Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.002%, 08/25/35 (a) | 46480 | &nbsp;&nbsp;&nbsp; $31044 |
| Gemgarto PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.871%, SONIA + 0.885%, 12/16/67 (144A) (GBP) (a) | 480423 | &nbsp;&nbsp;&nbsp; 646794 |
| GreenPoint MTA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.712%, 1M TSFR + 0.554%, 06/25/45 (a) | 11060 | &nbsp;&nbsp;&nbsp; 10093 |
| GS Mortgage-Backed Securities Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/25/52 (144A) (a) | 9915046 | &nbsp;&nbsp;&nbsp; 8230262 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/25/52 (144A) (a) | 10547430 | &nbsp;&nbsp;&nbsp; 8738446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/26/52 (144A) (a) | 12107890 | &nbsp;&nbsp;&nbsp; 10454412 |
| GSR Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.292%, 04/25/36 (a) | 727630 | &nbsp;&nbsp;&nbsp; 434176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.668%, 01/25/36 (a) | 970189 | &nbsp;&nbsp;&nbsp; 915162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 09/25/35 (a) | 4887 | &nbsp;&nbsp;&nbsp; 4706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/25/32 | 33 | &nbsp;&nbsp;&nbsp; 34 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 1M TSFR + 0.554%, 05/19/35 (a) | 254916 | &nbsp;&nbsp;&nbsp; 246108 |
| IndyMac ARM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.774%, 01/25/32 (a) | 3914 | &nbsp;&nbsp;&nbsp; 3787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.380%, 01/25/32 (a) | 176 | &nbsp;&nbsp;&nbsp; 173 |
| IndyMac INDX Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.512%, 1M TSFR + 0.354%, 07/25/36 (a) | 1725688 | &nbsp;&nbsp;&nbsp; 1698613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 1M TSFR + 0.534%, 05/25/46 (a) | 2563381 | &nbsp;&nbsp;&nbsp; 2342718 |
| JP Morgan Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 1M TSFR + 0.474%, 05/25/36 (a) | 681374 | &nbsp;&nbsp;&nbsp; 567953 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/25/52 (144A) (a) | 10302032 | &nbsp;&nbsp;&nbsp; 8927359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.206%, 12/26/37 (144A) (a) | 3674374 | &nbsp;&nbsp;&nbsp; 3227313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/25/36 | 182325 | &nbsp;&nbsp;&nbsp; 76632 |
| Lehman Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.872%, 1M TSFR + 0.714%, 08/25/36 (a) | 2578072 | &nbsp;&nbsp;&nbsp; 1772299 |
| Lehman XS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 1M TSFR + 0.514%, 03/25/47 (a) | 8329797 | &nbsp;&nbsp;&nbsp; 7150981 |
| MASTR Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 1M TSFR + 0.514%, 03/25/36 (a) | 609692 | &nbsp;&nbsp;&nbsp; 54184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/25/35 | 1745521 | &nbsp;&nbsp;&nbsp; 1814754 |
| MASTR Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/25/36 | 146745 | &nbsp;&nbsp;&nbsp; 79048 |
| MetLife Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 03/25/57 (144A) (a) | 2686951 | &nbsp;&nbsp;&nbsp; 2622495 |
| Mill City Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 08/25/59 (144A) (a) | 8400000 | &nbsp;&nbsp;&nbsp; 7593969 |
| Morgan Stanley Re-REMICS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.306%, 03/26/37 (144A) (e) | 958769 | &nbsp;&nbsp;&nbsp; 1004627 |
| MortgageIT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 1M TSFR + 0.574%, 04/25/36 (a) | 1110351 | &nbsp;&nbsp;&nbsp; 1060874 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.864%, 10/25/63 (144A) (e) | 4827568 | &nbsp;&nbsp;&nbsp; 4894929 |
| Nomura Asset Acceptance Corp. Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.476%, 05/25/35 (e) | 502893 | &nbsp;&nbsp;&nbsp; 240213 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.922%, 1M TSFR + 0.764%, 06/25/57 (144A) (a) | 3209743 | &nbsp;&nbsp;&nbsp; 3146253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.120%, 11/25/62 (144A) (a) | 5151683 | &nbsp;&nbsp;&nbsp; 5145448 |
| PRKCM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.335%, 08/25/57 (144A) (a) | 5050747 | &nbsp;&nbsp;&nbsp; 5048005 |

---

**BHFTI-266**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| PRPM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/25/68 (144A) (e) | 4012116 | &nbsp;&nbsp;&nbsp; $4039305 |
| RBSSP Resecuritization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.362%, 1M TSFR + 0.354%, 06/27/36 (144A) (a) | 1767830 | &nbsp;&nbsp;&nbsp; 1759528 |
| Reperforming Loan Trust REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1M TSFR + 0.454%, 06/25/35 (144A) (a) | 321581 | &nbsp;&nbsp;&nbsp; 310614 |
| Residential Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/25/36 | 2858949 | &nbsp;&nbsp;&nbsp; 1065911 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.888%, 1M TSFR + 0.754%, 04/19/27 (a) | 35069 | &nbsp;&nbsp;&nbsp; 34711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1M TSFR + 0.814%, 07/20/33 (a) | 32011 | &nbsp;&nbsp;&nbsp; 31942 |
| Structured Adjustable Rate Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.926%, 01/25/35 (a) | 69201 | &nbsp;&nbsp;&nbsp; 68613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.529%, 08/25/35 (a) | 32636 | &nbsp;&nbsp;&nbsp; 28279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.742%, 10/25/36 (a) | 4952262 | &nbsp;&nbsp;&nbsp; 1971163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.197%, 04/25/35 (a) | 1002712 | &nbsp;&nbsp;&nbsp; 925846 |
| Structured Asset Mortgage Investments II Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 1M TSFR + 0.614%, 07/19/35 (a) | 116602 | &nbsp;&nbsp;&nbsp; 114301 |
| Towd Point Mortgage Funding - Granite 6 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.978%, SONIA + 0.925%, 07/20/53 (144A) (GBP) (a) | 5551515 | &nbsp;&nbsp;&nbsp; 7483230 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 07/25/62 (144A) (a) | 4518598 | &nbsp;&nbsp;&nbsp; 4336505 |
| UWM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/25/51 (144A) (a) | 18788397 | &nbsp;&nbsp;&nbsp; 15858308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/25/51 (144A) (a) | 10343276 | &nbsp;&nbsp;&nbsp; 8537241 |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.037%, 06/25/37 (a) | 2606658 | &nbsp;&nbsp;&nbsp; 2287944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 1M TSFR + 0.614%, 02/25/45 (a) | 3039333 | &nbsp;&nbsp;&nbsp; 3046698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 12M MTA + 1.400%, 06/25/42 (a) | 17120 | &nbsp;&nbsp;&nbsp; 16063 |
| Wells Fargo Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.396%, 09/25/33 (a) | 37968 | &nbsp;&nbsp;&nbsp; 37324 |
|  |  | &nbsp;&nbsp;&nbsp; 201575017 |
| **Commercial Mortgage-Backed Securities — 5.7%** | **Commercial Mortgage-Backed Securities — 5.7%** | **Commercial Mortgage-Backed Securities — 5.7%** |
| 1211 Avenue of the Americas Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.901%, 08/10/35 (144A) | 12100000 | &nbsp;&nbsp;&nbsp; 11642469 |
| 225 Liberty Street Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.597%, 02/10/36 (144A) | 11600000 | &nbsp;&nbsp;&nbsp; 11367896 |
| Arbor Multifamily Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.756%, 05/15/53 (144A) | 7500000 | &nbsp;&nbsp;&nbsp; 7006687 |
| AREIT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.637%, SOFR30A + 1.250%, 01/20/37 (144A) (a) | 6805389 | &nbsp;&nbsp;&nbsp; 6803825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.385%, 1M TSFR + 2.242%, 06/17/39 (144A) (a) | 8631935 | &nbsp;&nbsp;&nbsp; 8642751 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.955%, 01/15/55 (a) | 12646000 | &nbsp;&nbsp;&nbsp; 12047212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.458%, 03/15/55 | 13000000 | &nbsp;&nbsp;&nbsp; 12032350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 03/15/52 | 13000000 | &nbsp;&nbsp;&nbsp; 12749664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.591%, 05/15/55 (a) | 11000000 | &nbsp;&nbsp;&nbsp; 10769053 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.545%, 02/10/36 (144A) | 6000000 | &nbsp;&nbsp;&nbsp; 5937227 |
| DBGS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.843%, 04/10/37 (144A) | 12550000 | &nbsp;&nbsp;&nbsp; 11839403 |
| DC Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.965%, 09/15/45 (144A) | 1000000 | &nbsp;&nbsp;&nbsp; 910960 |
| DOLP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.956%, 05/10/41 (144A) | 13200000 | &nbsp;&nbsp;&nbsp; 11787244 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** |
| Extended Stay America Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.345%, 1M TSFR + 1.194%, 07/15/38 (144A) (a) | 11805864 | &nbsp;&nbsp;&nbsp; $11805864 |
| GS Mortgage Securities Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.856%, 05/10/34 (144A) | 7552013 | &nbsp;&nbsp;&nbsp; 6642310 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.278%, 11/10/49 (a) | 271050 | &nbsp;&nbsp;&nbsp; 269998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.722%, 10/10/49 (144A) (a) | 13346000 | &nbsp;&nbsp;&nbsp; 12210032 |
| JP Morgan Chase Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 1M TSFR + 1.497%, 12/15/31 (144A) (a) | 3431009 | &nbsp;&nbsp;&nbsp; 3417701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.236%, 10/05/40 (144A) | 5800000 | &nbsp;&nbsp;&nbsp; 6138146 |
| Manhattan West Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.130%, 09/10/39 (144A) | 12300000 | &nbsp;&nbsp;&nbsp; 11723050 |
| Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.952%, 11/15/49 | 661159 | &nbsp;&nbsp;&nbsp; 659366 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.509%, 04/05/42 (144A) (a) | 7500000 | &nbsp;&nbsp;&nbsp; 6617701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.127%, 11/15/52 | 800000 | &nbsp;&nbsp;&nbsp; 760204 |
| NYO Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.361%, 1M TSFR + 1.209%, 11/15/38 (144A) (a) | 14000000 | &nbsp;&nbsp;&nbsp; 13947500 |
| Ready Capital Mortgage Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.472%, 1M TSFR + 1.314%, 11/25/36 (144A) (a) | 1873363 | &nbsp;&nbsp;&nbsp; 1873023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.532%, 1M TSFR + 2.374%, 10/25/39 (144A) (a) | 7153 | &nbsp;&nbsp;&nbsp; 7155 |
| SG Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.632%, 03/15/37 (144A) | 7100000 | &nbsp;&nbsp;&nbsp; 6629501 |
|  |  | &nbsp;&nbsp;&nbsp; 206238292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $446,679,094) <br>|  | &nbsp;&nbsp;&nbsp; 407813309 |
| **Foreign Government—8.4%** | **Foreign Government—8.4%** | **Foreign Government—8.4%** |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| Korea Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.019%, SOFR + 0.700%, 10/23/26 (a) | 1700000 | &nbsp;&nbsp;&nbsp; 1706396 |
| **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** |
| CPPIB Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 06/02/34 (CAD) | 5400000 | &nbsp;&nbsp;&nbsp; 4094912 |
| **Regional Government — 0.5%** | **Regional Government — 0.5%** | **Regional Government — 0.5%** |
| Province of British Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 06/18/34 (CAD) | 2500000 | &nbsp;&nbsp;&nbsp; 1876321 |
| Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/02/34 (CAD) | 6100000 | &nbsp;&nbsp;&nbsp; 4442476 |
| Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 09/01/34 (CAD) | 16400000 | &nbsp;&nbsp;&nbsp; 12558485 |
|  |  | &nbsp;&nbsp;&nbsp; 18877282 |
| **Sovereign — 7.7%** | **Sovereign — 7.7%** | **Sovereign — 7.7%** |
| Australia Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 06/21/35 (AUD) | 14300000 | &nbsp;&nbsp;&nbsp; 8303082 |
| Brazil Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 03/15/34 | 7800000 | &nbsp;&nbsp;&nbsp; 7967700 |
| Brazil Letras do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 04/01/26 (BRL) | 36500000 | &nbsp;&nbsp;&nbsp; 6401524 |

---

**BHFTI-267**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Foreign Government—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Chile Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.340%, 03/07/42 | 12500000 | &nbsp;&nbsp;&nbsp; $11038750 |
| Eagle Funding Luxco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/17/30 (144A) | 8600000 | &nbsp;&nbsp;&nbsp; 8725216 |
| European Union |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/05/29 (EUR) | 15200000 | &nbsp;&nbsp;&nbsp; 18146304 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 05/15/28 (144A) (EUR) (m) | 26766839 | &nbsp;&nbsp;&nbsp; 31844529 |
| Ivory Coast Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/17/31 (144A) (EUR) | 4900000 | &nbsp;&nbsp;&nbsp; 5718411 |
| Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 07/21/27 | 11200000 | &nbsp;&nbsp;&nbsp; 11017396 |
| Japan Government Forty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 03/20/64 (JPY) | 724000000 | &nbsp;&nbsp;&nbsp; 3754999 |
| Japan Government Thirty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 12/20/54 (JPY) | 1270000000 | &nbsp;&nbsp;&nbsp; 7322177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 03/20/55 (JPY) | 1394800000 | &nbsp;&nbsp;&nbsp; 8221100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 06/20/55 (JPY) | 980000000 | &nbsp;&nbsp;&nbsp; 6283703 |
| Japan Government Twenty Year Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/20/44 (JPY) | 1670000000 | &nbsp;&nbsp;&nbsp; 10347258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 03/20/45 (JPY) | 923600000 | &nbsp;&nbsp;&nbsp; 6080702 |
| Kuwait International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 10/09/28 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.136%, 10/09/30 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 10/09/35 | 1500000 | &nbsp;&nbsp;&nbsp; 1500000 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/19/29 (EUR) | 2600000 | &nbsp;&nbsp;&nbsp; 3069812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/19/34 (EUR) | 2600000 | &nbsp;&nbsp;&nbsp; 3099131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 03/19/38 (EUR) | 1000000 | &nbsp;&nbsp;&nbsp; 1195745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/07/36 | 2400000 | &nbsp;&nbsp;&nbsp; 2452440 |
| Peru Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 08/12/34 (PEN) | 14400000 | &nbsp;&nbsp;&nbsp; 4012356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 08/12/32 (144A) (PEN) | 60800000 | &nbsp;&nbsp;&nbsp; 18563205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 08/12/31 (PEN) | 7920000 | &nbsp;&nbsp;&nbsp; 2527643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 08/12/31 (144A) (PEN) | 1680000 | &nbsp;&nbsp;&nbsp; 536167 |
| Qatar Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.103%, 04/23/48 | 1500000 | &nbsp;&nbsp;&nbsp; 1489151 |
| Republic of Poland Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/18/34 | 3900000 | &nbsp;&nbsp;&nbsp; 3986514 |
| Republic of South Africa Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/31/36 (ZAR) | 17000000 | &nbsp;&nbsp;&nbsp; 779557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/28/31 (ZAR) | 95400000 | &nbsp;&nbsp;&nbsp; 5234616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 01/31/37 (ZAR) | 63800000 | &nbsp;&nbsp;&nbsp; 3398734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 01/31/44 (ZAR) | 4040000 | &nbsp;&nbsp;&nbsp; 203393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/28/48 (ZAR) | 16900000 | &nbsp;&nbsp;&nbsp; 844183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/28/35 (ZAR) | 357520000 | &nbsp;&nbsp;&nbsp; 20305825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 01/31/40 (ZAR) | 14340000 | &nbsp;&nbsp;&nbsp; 759849 |
| Republic of South Africa Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 11/19/36 (144A) | 3000000 | &nbsp;&nbsp;&nbsp; 3127538 |
| Romania Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/10/30 (144A) (EUR) | 2600000 | &nbsp;&nbsp;&nbsp; 3144561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/22/31 (144A) (EUR) | 3050000 | &nbsp;&nbsp;&nbsp; 3643322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 05/30/37 (144A) (EUR) | 4100000 | &nbsp;&nbsp;&nbsp; 4606452 |
| Saudi Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/18/28 (144A) | 6000000 | &nbsp;&nbsp;&nbsp; 6081468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/16/30 (144A) | 7800000 | &nbsp;&nbsp;&nbsp; 7953760 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Sovereign—(Continued)** | **Sovereign—(Continued)** | **Sovereign—(Continued)** |
| Saudi Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/18/53 (144A) | 6000000 | &nbsp;&nbsp;&nbsp; $5425652 |
| U.K. Gilts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 07/31/54 (GBP) | 12954000 | &nbsp;&nbsp;&nbsp; 14576131 |
|  |  | &nbsp;&nbsp;&nbsp; 277690056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $296,318,798) <br>|  | &nbsp;&nbsp;&nbsp; 302368646 |
| **Asset-Backed Securities—8.3%** | **Asset-Backed Securities—8.3%** | **Asset-Backed Securities—8.3%** |
| **Asset-Backed - Automobile — 0.3%** | **Asset-Backed - Automobile — 0.3%** | **Asset-Backed - Automobile — 0.3%** |
| Citizens Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.840%, 01/18/28 (144A) | 3202754 | &nbsp;&nbsp;&nbsp; 3224886 |
| Ford Credit Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 06/15/27 | 1400000 | &nbsp;&nbsp;&nbsp; 1409161 |
| Huntington Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/15/27 (144A) | 197043 | &nbsp;&nbsp;&nbsp; 197119 |
| Hyundai Auto Lease Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.020%, 03/15/27 (144A) | 1205028 | &nbsp;&nbsp;&nbsp; 1208399 |
| Toyota Auto Loan Extended Note Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.930%, 06/25/36 (144A) | 3900000 | &nbsp;&nbsp;&nbsp; 3991332 |
|  |  | &nbsp;&nbsp;&nbsp; 10030897 |
| **Asset-Backed - Home Equity — 0.7%** | **Asset-Backed - Home Equity — 0.7%** | **Asset-Backed - Home Equity — 0.7%** |
| ABFC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 1M TSFR + 0.814%, 06/25/34 (a) | 810086 | &nbsp;&nbsp;&nbsp; 815223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.097%, 1M TSFR + 0.939%, 07/25/35 (a) | 4052435 | &nbsp;&nbsp;&nbsp; 3843078 |
| Accredited Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.852%, 1M TSFR + 0.404%, 07/25/34 (a) | 1813566 | &nbsp;&nbsp;&nbsp; 1802088 |
| ACE Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 1M TSFR + 0.414%, 04/25/36 (a) | 1098723 | &nbsp;&nbsp;&nbsp; 1072318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 1M TSFR + 0.414%, 07/25/36 (a) | 7488301 | &nbsp;&nbsp;&nbsp; 2500272 |
| Asset-Backed Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.352%, 1M TSFR + 0.194%, 05/25/37 (a) | 16482 | &nbsp;&nbsp;&nbsp; 11724 |
| Bear Stearns Asset-Backed Securities I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.277%, 1M TSFR + 1.119%, 06/25/35 (a) | 856619 | &nbsp;&nbsp;&nbsp; 841455 |
| Bear Stearns Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.072%, 1M TSFR + 0.914%, 10/27/32 (a) | 962 | &nbsp;&nbsp;&nbsp; 960 |
| Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 12/25/36 (144A) (a) | 5068959 | &nbsp;&nbsp;&nbsp; 2839568 |
| HSI Asset Securitization Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1M TSFR + 0.454%, 12/25/36 (a) | 8126337 | &nbsp;&nbsp;&nbsp; 1912516 |
| IXIS Real Estate Capital Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.217%, 1M TSFR + 1.059%, 02/25/35 (a) | 725337 | &nbsp;&nbsp;&nbsp; 740471 |
| MASTR Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.372%, 1M TSFR + 0.214%, 08/25/36 (a) | 4501536 | &nbsp;&nbsp;&nbsp; 1518211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 08/25/36 (a) | 2914569 | &nbsp;&nbsp;&nbsp; 988830 |
| Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 1M TSFR + 0.614%, 07/25/37 (a) | 8206832 | &nbsp;&nbsp;&nbsp; 1704321 |
| Morgan Stanley ABS Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.332%, 1M TSFR + 0.174%, 05/25/37 (a) | 79836 | &nbsp;&nbsp;&nbsp; 72513 |
| NovaStar Mortgage Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.472%, 1M TSFR + 0.314%, 09/25/37 (a) | 1871092 | &nbsp;&nbsp;&nbsp; 1844807 |
| Option One Mortgage Accept Corp. Asset Back Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 1M TSFR + 0.754%, 08/25/33 (a) | 5891 | &nbsp;&nbsp;&nbsp; 6203 |

---

**BHFTI-268**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Home Equity—(Continued)** | **Asset-Backed - Home Equity—(Continued)** | **Asset-Backed - Home Equity—(Continued)** |
| Option One Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 1M TSFR + 0.394%, 01/25/37 (a) | 3583505 | &nbsp;&nbsp;&nbsp; $2311490 |
| Renaissance Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.434%, 1M TSFR + 0.994%, 08/25/33 (a) | 50386 | &nbsp;&nbsp;&nbsp; 45996 |
| Residential Asset Securities Corporation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.562%, 1M TSFR + 0.404%, 06/25/33 (a) | 401438 | &nbsp;&nbsp;&nbsp; 393336 |
|  |  | &nbsp;&nbsp;&nbsp; 25265380 |
| **Asset-Backed - Other — 7.0%** | **Asset-Backed - Other — 7.0%** | **Asset-Backed - Other — 7.0%** |
| Arbour CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.366%, 3M EURIBOR + 1.330%, 05/15/38 (144A) <br> (EUR) (a)<br>| 5500000 | &nbsp;&nbsp;&nbsp; 6463452 |
| ARES European CLO X DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.806%, 3M EURIBOR + 0.780%, 10/15/31 (144A) <br> (EUR) (a)<br>| 4935424 | &nbsp;&nbsp;&nbsp; 5791552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Argent Securities, Inc. Asset-Backed Pass-Through <br> Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.032%, 1M TSFR + 0.874%, 02/25/36 (a) | 3315301 | &nbsp;&nbsp;&nbsp; 2696476 |
| Capital Four U.S. CLO II Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.226%, 3M TSFR + 1.900%, 01/20/37 (144A) (a) | 8200000 | &nbsp;&nbsp;&nbsp; 8228405 |
| Catamaran CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.694%, 3M TSFR + 1.362%, 04/22/30 (144A) (a) | 1137714 | &nbsp;&nbsp;&nbsp; 1138600 |
| Countrywide Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.265%, 10/25/46 (a) | 394457 | &nbsp;&nbsp;&nbsp; 407864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.366%, 10/25/32 (a) | 63 | &nbsp;&nbsp;&nbsp; 149929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 1M TSFR + 0.254%, 07/25/37 (a) | 4573266 | &nbsp;&nbsp;&nbsp; 4290218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 1M TSFR + 0.394%, 02/25/37 (a) | 1198161 | &nbsp;&nbsp;&nbsp; 1142083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 1M TSFR + 0.394%, 04/25/47 (a) | 1151610 | &nbsp;&nbsp;&nbsp; 1121913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.712%, 1M TSFR + 0.554%, 09/25/37 (a) | 1439528 | &nbsp;&nbsp;&nbsp; 1526012 |
| Dewolf Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.499%, 3M TSFR + 1.182%, 10/15/30 (144A) (a) | 1107180 | &nbsp;&nbsp;&nbsp; 1107339 |
| Dryden 54 Senior Loan Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.476%, 3M TSFR + 1.150%, 10/19/29 (144A) (a) | 2793127 | &nbsp;&nbsp;&nbsp; 2792460 |
| First Franklin Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 1M TSFR + 0.394%, 12/25/36 (a) | 4158961 | &nbsp;&nbsp;&nbsp; 1676683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.582%, 1M TSFR + 0.424%, 10/25/36 (a) | 16312000 | &nbsp;&nbsp;&nbsp; 13488474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.202%, 1M TSFR + 1.044%, 10/25/34 (a) | 2089167 | &nbsp;&nbsp;&nbsp; 2062078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.697%, 1M TSFR + 1.539%, 10/25/34 (a) | 1139019 | &nbsp;&nbsp;&nbsp; 1145513 |
| GoodLeap Sustainable Home Solutions Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/20/49 (144A) | 8883927 | &nbsp;&nbsp;&nbsp; 7898477 |
| GreenSky Home Improvement Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.120%, 03/25/60 (144A) | 4893439 | &nbsp;&nbsp;&nbsp; 4910072 |
| GSAMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.442%, 1M TSFR + 0.284%, 12/25/36 (a) | 2095488 | &nbsp;&nbsp;&nbsp; 1030137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.592%, 1M TSFR + 1.434%, 12/25/34 (a) | 3288052 | &nbsp;&nbsp;&nbsp; 2977315 |
| Harvest CLO XXV DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.974%, 3M EURIBOR + 0.950%, 10/21/34 (144A) <br> (EUR) (a)<br>| 9060000 | &nbsp;&nbsp;&nbsp; 10611349 |
| Henley CLO VII DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.929%, 3M EURIBOR + 0.990%, 04/25/34 (144A) <br> (EUR) (a)<br>| 6300000 | &nbsp;&nbsp;&nbsp; 7400683 |
| Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.502%, 1M TSFR + 0.344%, 04/25/37 (a) | 3408856 | &nbsp;&nbsp;&nbsp; 3330336 |
| Home Equity Mortgage Loan Asset-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 1M TSFR + 0.334%, 04/25/37 (a) | 1818766 | &nbsp;&nbsp;&nbsp; 1415130 |
| ICG U.S. CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.476%, 3M TSFR + 1.150%, 10/20/34 (144A) (a) | 2600000 | &nbsp;&nbsp;&nbsp; 2601599 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| KKR CLO 41 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 3M TSFR + 1.330%, 04/15/35 (144A) (a) | 6000000 | &nbsp;&nbsp;&nbsp; $6005022 |
| KREF Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.584%, 1M TSFR + 1.450%, 02/17/39 (144A) (a) | 6973602 | &nbsp;&nbsp;&nbsp; 6974049 |
| Long Beach Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 1M TSFR + 0.434%, 05/25/36 (a) | 26565535 | &nbsp;&nbsp;&nbsp; 7588089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.792%, 1M TSFR + 0.634%, 08/25/45 (a) | 369639 | &nbsp;&nbsp;&nbsp; 364836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.052%, 1M TSFR + 0.894%, 08/25/35 (a) | 5125181 | &nbsp;&nbsp;&nbsp; 5057023 |
| Marathon CLO XIII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 3M TSFR + 1.200%, 04/15/32 (144A) (a) | 5633559 | &nbsp;&nbsp;&nbsp; 5633610 |
| Marble Point CLO XIV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.526%, 3M TSFR + 1.200%, 01/20/32 (144A) (a) | 6294176 | &nbsp;&nbsp;&nbsp; 6288486 |
| Merrill Lynch First Franklin Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.772%, 1M TSFR + 2.614%, 10/25/37 (a) | 8226579 | &nbsp;&nbsp;&nbsp; 7124587 |
| MF1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.769%, 1M TSFR + 2.635%, 09/17/37 (144A) (a) | 4518341 | &nbsp;&nbsp;&nbsp; 4526040 |
| MF1 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.957%, 1M TSFR + 1.814%, 12/15/35 (144A) (a) | 1893718 | &nbsp;&nbsp;&nbsp; 1896711 |
| MMAF Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 09/13/27 (144A) | 3427935 | &nbsp;&nbsp;&nbsp; 3439026 |
| Morgan Stanley ABS Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.522%, 1M TSFR + 0.364%, 07/25/36 (a) | 2220031 | &nbsp;&nbsp;&nbsp; 2029891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 1M TSFR + 0.414%, 06/25/36 (a) | 136192 | &nbsp;&nbsp;&nbsp; 119302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.892%, 1M TSFR + 0.734%, 12/25/35 (a) | 485879 | &nbsp;&nbsp;&nbsp; 478582 |
| Park Place Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.007%, 1M TSFR + 0.849%, 09/25/35 (a) | 2817366 | &nbsp;&nbsp;&nbsp; 2770143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Place Securities, Inc. Asset-Backed Pass-Through <br> Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 1M TSFR + 1.164%, 10/25/34 (a) | 1539610 | &nbsp;&nbsp;&nbsp; 1523568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.072%, 1M TSFR + 1.914%, 12/25/34 (a) | 2027332 | &nbsp;&nbsp;&nbsp; 2003220 |
| Romark CLO - IV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.438%, 3M TSFR + 1.140%, 07/10/34 (144A) (a) | 6200000 | &nbsp;&nbsp;&nbsp; 6200000 |
| Romark Credit Funding III Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 09/15/42 (144A) | 5700000 | &nbsp;&nbsp;&nbsp; 5718707 |
| Saxon Asset Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 1M TSFR + 0.514%, 09/25/47 (a) | 1448410 | &nbsp;&nbsp;&nbsp; 1353325 |
| Securitized Asset-Backed Receivables LLC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 1M TSFR + 0.614%, 03/25/36 (a) | 12768284 | &nbsp;&nbsp;&nbsp; 7985316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 1M TSFR + 0.614%, 05/25/36 (a) | 5922408 | &nbsp;&nbsp;&nbsp; 3185759 |
| Soundview Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 1M TSFR + 0.334%, 02/25/37 (a) | 1965221 | &nbsp;&nbsp;&nbsp; 518641 |
| Specialty Underwriting & Residential Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.542%, 1M TSFR + 0.384%, 04/25/37 (a) | 2244064 | &nbsp;&nbsp;&nbsp; 1647673 |
| Starwood Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.722%, SOFR30A + 1.350%, 11/15/38 (144A) (a) | 6910785 | &nbsp;&nbsp;&nbsp; 6888354 |
| Structured Asset Investment Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.422%, 1M TSFR + 0.264%, 09/25/36 (a) | 65266 | &nbsp;&nbsp;&nbsp; 65062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.902%, 1M TSFR + 0.744%, 11/25/35 (a) | 2585608 | &nbsp;&nbsp;&nbsp; 2541931 |
| Structured Asset Securities Corp. Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.072%, 1M TSFR + 1.914%, 08/25/37 (a) | 22400 | &nbsp;&nbsp;&nbsp; 22315 |
| Sunrun Demeter Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.270%, 01/30/57 (144A) | 10862625 | &nbsp;&nbsp;&nbsp; 9768318 |
| Symphony CLO XXXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.419%, 3M TSFR + 1.150%, 10/23/35 (144A) (a) | 9900000 | &nbsp;&nbsp;&nbsp; 9917662 |
| THL Credit Wind River CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.488%, 3M TSFR + 1.200%, 04/15/35 (144A) (a) | 11350000 | &nbsp;&nbsp;&nbsp; 11360487 |

---

**BHFTI-269**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

**Short-Term Investments—0.4%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Toro European CLO 7 DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.846%, 3M EURIBOR + 0.810%, 02/15/34 (144A) <br> (EUR) (a)<br>| 13991586 | &nbsp;&nbsp;&nbsp; $16385748 |
| U.S. Small Business Administration |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.220%, 12/01/28 | 230849 | &nbsp;&nbsp;&nbsp; 236486 |
| Venture XXVII CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.637%, 3M TSFR + 1.312%, 07/20/30 (144A) (a) | 2054261 | &nbsp;&nbsp;&nbsp; 2054404 |
| Venture XXVIII CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.577%, 3M TSFR + 1.252%, 07/20/30 (144A) (a) | 1187209 | &nbsp;&nbsp;&nbsp; 1186971 |
| Vibrant CLO XII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.301%, 3M TSFR + 1.150%, 04/20/34 (144A) (a) | 5000000 | &nbsp;&nbsp;&nbsp; 5003060 |
|  |  | &nbsp;&nbsp;&nbsp; 253266553 |
| **Asset-Backed - Student Loan — 0.3%** | **Asset-Backed - Student Loan — 0.3%** | **Asset-Backed - Student Loan — 0.3%** |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.670%, 06/22/65 (144A) | 4700000 | &nbsp;&nbsp;&nbsp; 4681566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.739%, SOFR30A + 1.350%, 06/22/65 (144A) (a) | 3800000 | &nbsp;&nbsp;&nbsp; 3799976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.589%, SOFR30A + 2.200%, 02/20/41 (144A) (a) | 1908299 | &nbsp;&nbsp;&nbsp; 1948918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.640%, 02/20/41 (144A) | 2008736 | &nbsp;&nbsp;&nbsp; 2081517 |
|  |  | &nbsp;&nbsp;&nbsp; 12511977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $307,794,796) <br>|  | &nbsp;&nbsp;&nbsp; 301074807 |
| **Municipals—1.1%** | **Municipals—1.1%** | **Municipals—1.1%** |
| Empire State Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.346%, 03/15/26 | 8100000 | &nbsp;&nbsp;&nbsp; 8002374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Louisiana Local Government Environmental Facilities & <br> Community Development Authority<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.048%, 12/01/34 | 5900000 | &nbsp;&nbsp;&nbsp; 6119890 |
| Sales Tax Securitization Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.007%, 01/01/33 | 10100000 | &nbsp;&nbsp;&nbsp; 9221560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.057%, 01/01/34 | 2000000 | &nbsp;&nbsp;&nbsp; 1799763 |
| State of Illinois, General Obligation Unlimited |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.725%, 04/01/35 | 4400000 | &nbsp;&nbsp;&nbsp; 4675165 |
| Texas Natural Gas Securitization Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.169%, 04/01/41 | 5900000 | &nbsp;&nbsp;&nbsp; 6010247 |
| Tobacco Settlement Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.820%, 06/01/26 | 2250000 | &nbsp;&nbsp;&nbsp; 2215639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Municipals <br>(Cost $38,844,923) <br>|  | &nbsp;&nbsp;&nbsp; 38044638 |
| **Floating Rate Loans (n)—0.2%** | **Floating Rate Loans (n)—0.2%** | **Floating Rate Loans (n)—0.2%** |
| **Commercial Services — 0.0%** | **Commercial Services — 0.0%** | **Commercial Services — 0.0%** |
| Stepstone Group MidCo 2 GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; USD Term Loan B, 8.608%, 3M TSFR + 4.500%, <br> 12/19/31<br>| 897750 | &nbsp;&nbsp;&nbsp; 857351 |
| **Investment Companies — 0.2%** | **Investment Companies — 0.2%** | **Investment Companies — 0.2%** |
| Castlelake LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First Lien Term Loan, 2.950%, 05/13/31 (g) | 5312105 | &nbsp;&nbsp;&nbsp; 5076699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Floating Rate Loans <br>(Cost $6,196,637) <br>|  | &nbsp;&nbsp;&nbsp; 5934050 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Repurchase Agreements—0.4%** | **Repurchase Agreements—0.4%** | **Repurchase Agreements—0.4%** |
| Barclays Bank plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due <br> on 10/01/25, with a maturity value of $2,114,194; <br> collateralized by U.S. Treasury Bond at 1.875%, <br> maturing at 02/15/41, with a market value of <br> $2,104,243<br>| 2113948 | &nbsp;&nbsp;&nbsp; $2113948 |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due <br> on 10/01/25, with a maturity value of $7,656,110; <br> collateralized by U.S. Treasury Note at 3.625%, <br> maturing 08/31/29, with a market value of <br> $7,808,630<br>| 7655472 | &nbsp;&nbsp;&nbsp; 7655472 |
| Goldman Sachs & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.250%, due <br> on 10/01/25, with a maturity value of $4,000,472; <br> collateralized by U.S. Government Obligations at <br> 5.500%, maturing at 06/20/54, with a market value of <br> $4,122,123<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $13,769,420) <br>|  | &nbsp;&nbsp;&nbsp; 13769420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Purchased Options—0.0% (o) <br>(Cost $726,185) <br>|  | &nbsp;&nbsp;&nbsp; 54427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—137.7% <br>(Cost $5,140,594,725) <br>|  | &nbsp;&nbsp;&nbsp; 4965791616 |
| Other assets and liabilities (net)—(37.7)%  |  | &nbsp;&nbsp;&nbsp; (1359109348)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $3606682268 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Principal amount stated in U.S. dollars unless otherwise noted. |
| † | Restricted securities are not registered under the Securities Act of 1933 and are subject to <br> legal restrictions on resale. These securities generally may be resold in transactions exempt <br> from registration or to the public if the securities are subsequently registered. Disposal of <br> these securities may involve time-consuming negotiations and prompt sale at an acceptable <br> price may be difficult. As of September 30, 2025, the market value of restricted securities <br> was $961,821, which is 0.0% of net assets. See details shown in the Restricted Securities table <br> that follows.<br>|
| (a) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For <br> securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (b) | Interest only security. |
| (c) | TBA (To Be Announced) Securities are purchased on a forward commitment basis with an <br> approximate principal amount and no defined maturity date. The actual principal and <br> maturity date will be determined upon settlement date.<br>|
| (d) | Non-income producing; security is in default and/or issuer is in bankruptcy. |
| (e) | Security is a "step up" bond where coupon increases or steps up at a predetermined date. <br> Rate shown is current coupon rate.<br>|
| (f) | Security was valued in good faith under procedures subject to oversight by the Board of <br> Trustees. As of September 30, 2025, these securities represent 0.0% of net assets.<br>|
| (g) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. <br> Level 3.<br>|
| (h) | All or a portion of the security was pledged as collateral against open centrally cleared swap <br> contracts. As of September 30, 2025, the market value of securities pledged was <br>|

---

**BHFTI-270**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | $47593264. |
| (i) | All or a portion of the security was pledged as collateral against open OTC derivative <br> contracts. As of September 30, 2025, the market value of securities pledged was $965,010.<br>|
| (j) | All or a portion of the security was pledged as collateral against open futures contracts. As of <br> September 30, 2025, the market value of securities pledged was $9,197,365.<br>|
| (k) | All or a portion of the security was pledged as collateral against open reverse repurchase <br> agreements. As of September 30, 2025, the market value of securities pledged <br> was $60,847,534.<br>|
| (l) | All or a portion of the security was pledged as collateral for TBA securities. As of <br> September 30, 2025, the market value of securities pledged was $767,641.<br>|
| (m) | Principal amount of security is adjusted for inflation. |
| (n) | Floating rate loans ("Senior Loans") often require prepayments from excess cash flows or <br> permit the borrowers to repay at their election. The degree to which borrowers repay, <br>|

---

---

| | |
|:---|:---|
|  | whether as a contractual requirement or at their election, cannot be predicted with accuracy. <br> As a result, the actual remaining maturity may be substantially less than the stated maturities <br> shown. However, Senior Loans will generally have an expected average life of approximately <br> two to four years. Senior Loans typically have rates of interest which are determined <br> periodically by reference to a base lending rate, plus a spread. These base rates are primarily <br> the Secured Overnight Financing Rate and secondarily, the prime rate offered by one or more <br> major United States banks. Base lending rates may be subject to a floor, or a minimum rate.<br>|
| (o) | For a breakout of open positions, see details shown in the Purchased Options table <br> that follows.<br>|
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $1,132,100,364, which is 31.4% of net assets.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Principal** <br>**Amount** | **Principal** <br>**Amount** | **Cost** | **Value** |
| British Airways Pass-Through Trust, 4.125%, 03/20/33 | 10/01/19 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 951532 | &nbsp;&nbsp; $986509 | &nbsp;&nbsp; $916754 |
| Thames Water Super Senior Issuer PLC, 9.750%, 10/10/27 | 04/08/25-08/12/25 | &nbsp;&nbsp; GBP | &nbsp;&nbsp; 30066 | &nbsp;&nbsp; 23744 | &nbsp;&nbsp; 45067 |
|  |  |  |  |  | &nbsp;&nbsp; $961821 |

---

**Reverse Repurchase Agreements** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Interest** <br>**Rate**<br>| **Settlement** <br>**Date**<br>| **Maturity** <br>**Date**<br>| **Principal Amount** | **Principal Amount** | **Net Closing** <br>**Amount**<br>|
| Deutsche Bank Securities, Inc. | 4.260<br> %<br>| &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; (12618875)<br>| &nbsp;&nbsp; $(12618875)<br>|
| Deutsche Bank Securities, Inc. | 4.250<br> %<br>| &nbsp;&nbsp; 09/22/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; (14728375)<br>| &nbsp;&nbsp; (14728375)<br>|
| JPMorgan Securities LLC | 4.300<br> %<br>| &nbsp;&nbsp; 09/24/25 | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; (15326500)<br>| &nbsp;&nbsp; (15326500)<br>|
| JPMorgan Securities LLC | 4.300<br> %<br>| &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; USD | &nbsp;&nbsp; (18281000)<br>| &nbsp;&nbsp; (18281000)<br>|
| Total |  |  |  |  |  | &nbsp;&nbsp; $(60954750)<br>|

---

Securities pledged as collateral against open reverse repurchase agreements are noted in the Schedule of Investments.

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| BRL | &nbsp;&nbsp; 3335054 | BOA | 10/02/25 | USD | 610000 | &nbsp;&nbsp; $16625 |
| BRL | &nbsp;&nbsp; 1600000 | BNP | 10/02/25 | USD | 296846 | &nbsp;&nbsp; 3779 |
| BRL | &nbsp;&nbsp; 1100000 | BNP | 10/02/25 | USD | 200668 | &nbsp;&nbsp; 6012 |
| BRL | &nbsp;&nbsp; 1100000 | BNP | 10/02/25 | USD | 198497 | &nbsp;&nbsp; 8183 |
| BRL | &nbsp;&nbsp; 1800000 | BNP | 10/02/25 | USD | 329483 | &nbsp;&nbsp; 8720 |
| BRL | &nbsp;&nbsp; 44243287 | BNP | 10/02/25 | USD | 8170000 | &nbsp;&nbsp; 142892 |
| BRL | &nbsp;&nbsp; 399780 | BNP | 11/04/25 | USD | 74637 | &nbsp;&nbsp; (125)<br>|
| BRL | &nbsp;&nbsp; 46933647 | GSBU | 10/02/25 | USD | 8824436 | &nbsp;&nbsp; (6052)<br>|
| BRL | &nbsp;&nbsp; 9400000 | GSBU | 10/02/25 | USD | 1767249 | &nbsp;&nbsp; (1079)<br>|
| BRL | &nbsp;&nbsp; 1300000 | GSBU | 10/02/25 | USD | 243706 | &nbsp;&nbsp; 552 |
| BRL | &nbsp;&nbsp; 5700000 | GSBU | 10/02/25 | USD | 1070141 | &nbsp;&nbsp; 834 |
| BRL | &nbsp;&nbsp; 3300000 | GSBU | 10/02/25 | USD | 602465 | &nbsp;&nbsp; 17574 |
| BRL | &nbsp;&nbsp; 3342044 | GSBU | 10/02/25 | USD | 610000 | &nbsp;&nbsp; 17938 |
| BRL | &nbsp;&nbsp; 4400000 | GSBU | 10/02/25 | USD | 796661 | &nbsp;&nbsp; 30057 |
| BRL | &nbsp;&nbsp; 4400000 | GSBU | 10/02/25 | USD | 794038 | &nbsp;&nbsp; 32681 |
| BRL | &nbsp;&nbsp; 14700366 | GSBU | 10/02/25 | USD | 2720275 | &nbsp;&nbsp; 41784 |
| BRL | &nbsp;&nbsp; 64581115 | GSBU | 12/02/25 | USD | 11924355 | &nbsp;&nbsp; 36883 |
| BRL | &nbsp;&nbsp; 456947 | JPMC | 10/02/25 | USD | 85915 | &nbsp;&nbsp; (59)<br>|

---

**BHFTI-271**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| BRL | &nbsp;&nbsp; 4700000 | MSIP | 10/02/25 | USD | 883691 | &nbsp;&nbsp; $(606)<br>|
| BRL | &nbsp;&nbsp; 171015080 | SG | 12/02/25 | USD | 30789118 | &nbsp;&nbsp; 885033 |
| CAD | &nbsp;&nbsp; 1472000 | CBNA | 10/02/25 | USD | 1072955 | &nbsp;&nbsp; (15205)<br>|
| CAD | &nbsp;&nbsp; 79566053 | CBNA | 10/02/25 | USD | 57089799 | &nbsp;&nbsp; 84796 |
| CHF | &nbsp;&nbsp; 103378 | BBP | 10/02/25 | USD | 128912 | &nbsp;&nbsp; 951 |
| CHF | &nbsp;&nbsp; 1762105 | BBP | 11/04/25 | USD | 2216384 | &nbsp;&nbsp; 6001 |
| CHF | &nbsp;&nbsp; 315378 | CBNA | 11/04/25 | USD | 397885 | &nbsp;&nbsp; (127)<br>|
| CHF | &nbsp;&nbsp; 2207000 | JPMC | 10/02/25 | USD | 2779624 | &nbsp;&nbsp; (7185)<br>|
| CNY | &nbsp;&nbsp; 955138 | JPMC | 11/04/25 | USD | 134545 | &nbsp;&nbsp; (153)<br>|
| DKK | &nbsp;&nbsp; 7170259 | JPMC | 10/02/25 | USD | 1126211 | &nbsp;&nbsp; 1534 |
| EUR | &nbsp;&nbsp; 7115000 | BOA | 10/02/25 | USD | 8329530 | &nbsp;&nbsp; 23841 |
| EUR | &nbsp;&nbsp; 2987000 | CBNA | 10/02/25 | USD | 3513074 | &nbsp;&nbsp; (6184)<br>|
| EUR | &nbsp;&nbsp; 121774448 | SG | 10/02/25 | USD | 143206751 | &nbsp;&nbsp; (237380)<br>|
| GBP | &nbsp;&nbsp; 2453000 | JPMC | 10/02/25 | USD | 3335025 | &nbsp;&nbsp; (35986)<br>|
| GBP | &nbsp;&nbsp; 811000 | JPMC | 10/02/25 | USD | 1099246 | &nbsp;&nbsp; (8532)<br>|
| GBP | &nbsp;&nbsp; 834000 | JPMC | 10/02/25 | USD | 1126847 | &nbsp;&nbsp; (5201)<br>|
| IDR | &nbsp;&nbsp; 35415215885 | BNP | 10/15/25 | USD | 2148538 | &nbsp;&nbsp; (23623)<br>|
| IDR | &nbsp;&nbsp; 26630470259 | BNP | 10/15/25 | USD | 1610201 | &nbsp;&nbsp; (12371)<br>|
| IDR | &nbsp;&nbsp; 19720485554 | BNP | 10/15/25 | USD | 1193622 | &nbsp;&nbsp; (10392)<br>|
| IDR | &nbsp;&nbsp; 10660077316 | BNP | 10/15/25 | USD | 648581 | &nbsp;&nbsp; (8976)<br>|
| IDR | &nbsp;&nbsp; 19221554207 | BNP | 12/17/25 | USD | 1142491 | &nbsp;&nbsp; 10061 |
| IDR | &nbsp;&nbsp; 20107466176 | CBNA | 10/15/25 | USD | 1222487 | &nbsp;&nbsp; (16038)<br>|
| IDR | &nbsp;&nbsp; 19851055023 | CBNA | 12/17/25 | USD | 1181294 | &nbsp;&nbsp; 9004 |
| IDR | &nbsp;&nbsp; 307686401 | GSBU | 10/08/25 | USD | 18354 | &nbsp;&nbsp; 108 |
| IDR | &nbsp;&nbsp; 20285985720 | GSBU | 10/15/25 | USD | 1227408 | &nbsp;&nbsp; (10248)<br>|
| IDR | &nbsp;&nbsp; 2251315238 | GSBU | 10/15/25 | USD | 136914 | &nbsp;&nbsp; (1835)<br>|
| IDR | &nbsp;&nbsp; 24588062813 | GSBU | 10/16/25 | USD | 1495285 | &nbsp;&nbsp; (20013)<br>|
| IDR | &nbsp;&nbsp; 15172483294 | GSBU | 10/16/25 | USD | 924715 | &nbsp;&nbsp; (14373)<br>|
| IDR | &nbsp;&nbsp; 19061351760 | GSBU | 12/17/25 | USD | 1140033 | &nbsp;&nbsp; 2913 |
| IDR | &nbsp;&nbsp; 32984847560 | JPMC | 10/08/25 | USD | 1976324 | &nbsp;&nbsp; 2888 |
| IDR | &nbsp;&nbsp; 28025140728 | JPMC | 10/15/25 | USD | 1700142 | &nbsp;&nbsp; (18632)<br>|
| ILS | &nbsp;&nbsp; 1581000 | BOA | 10/15/25 | USD | 470202 | &nbsp;&nbsp; 7114 |
| ILS | &nbsp;&nbsp; 1737000 | BOA | 11/13/25 | USD | 519512 | &nbsp;&nbsp; 4927 |
| ILS | &nbsp;&nbsp; 2554000 | BNP | 11/13/25 | USD | 759925 | &nbsp;&nbsp; 11184 |
| ILS | &nbsp;&nbsp; 366000 | CBNA | 11/13/25 | USD | 110236 | &nbsp;&nbsp; 268 |
| ILS | &nbsp;&nbsp; 370000 | CBNA | 11/13/25 | USD | 110458 | &nbsp;&nbsp; 1253 |
| ILS | &nbsp;&nbsp; 6499990 | DBAG | 10/15/25 | USD | 1902362 | &nbsp;&nbsp; 60033 |
| ILS | &nbsp;&nbsp; 334000 | GSBU | 11/13/25 | USD | 100183 | &nbsp;&nbsp; 659 |
| ILS | &nbsp;&nbsp; 1674000 | JPMC | 10/15/25 | USD | 498603 | &nbsp;&nbsp; 6790 |
| ILS | &nbsp;&nbsp; 652644 | UBSA | 10/15/25 | USD | 190720 | &nbsp;&nbsp; 6318 |
| INR | &nbsp;&nbsp; 138748213 | BOA | 10/17/25 | USD | 1568574 | &nbsp;&nbsp; (7164)<br>|
| INR | &nbsp;&nbsp; 110757137 | CBNA | 10/17/25 | USD | 1267955 | &nbsp;&nbsp; (21544)<br>|
| INR | &nbsp;&nbsp; 123211657 | CBNA | 10/17/25 | USD | 1402785 | &nbsp;&nbsp; (16216)<br>|
| INR | &nbsp;&nbsp; 198973219 | CBNA | 10/17/25 | USD | 2254884 | &nbsp;&nbsp; (15729)<br>|
| INR | &nbsp;&nbsp; 122565945 | CBNA | 10/17/25 | USD | 1391514 | &nbsp;&nbsp; (12212)<br>|
| INR | &nbsp;&nbsp; 95772055 | CBNA | 11/19/25 | USD | 1076284 | &nbsp;&nbsp; (469)<br>|
| INR | &nbsp;&nbsp; 237317032 | CBNA | 11/19/25 | USD | 2665046 | &nbsp;&nbsp; 756 |
| INR | &nbsp;&nbsp; 23833818 | DBAG | 10/08/25 | USD | 268490 | &nbsp;&nbsp; (143)<br>|
| INR | &nbsp;&nbsp; 210023799 | DBAG | 10/17/25 | USD | 2374720 | &nbsp;&nbsp; (11206)<br>|
| INR | &nbsp;&nbsp; 141228495 | DBAG | 10/17/25 | USD | 1598403 | &nbsp;&nbsp; (9081)<br>|
| INR | &nbsp;&nbsp; 57747184 | DBAG | 11/19/25 | USD | 649173 | &nbsp;&nbsp; (494)<br>|
| INR | &nbsp;&nbsp; 97213601 | DBAG | 11/19/25 | USD | 1091705 | &nbsp;&nbsp; 303 |
| INR | &nbsp;&nbsp; 236552697 | GSBU | 10/15/25 | USD | 2674574 | &nbsp;&nbsp; (12241)<br>|
| INR | &nbsp;&nbsp; 389743789 | GSBU | 10/16/25 | USD | 4407585 | &nbsp;&nbsp; (21357)<br>|
| INR | &nbsp;&nbsp; 319319424 | GSBU | 10/16/25 | USD | 3612415 | &nbsp;&nbsp; (18752)<br>|
| INR | &nbsp;&nbsp; 110211280 | GSBU | 10/17/25 | USD | 1255969 | &nbsp;&nbsp; (15701)<br>|
| INR | &nbsp;&nbsp; 711225637 | JPMC | 11/19/25 | USD | 7994174 | &nbsp;&nbsp; (4917)<br>|
| INR | &nbsp;&nbsp; 211578163 | UBSA | 10/17/25 | USD | 2396278 | &nbsp;&nbsp; (15272)<br>|
| JPY | &nbsp;&nbsp; 76801043 | BOA | 10/02/25 | USD | 512759 | &nbsp;&nbsp; 6570 |

---

**BHFTI-272**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| JPY | &nbsp;&nbsp; 88977578 | BNP | 10/02/25 | USD | 598853 | &nbsp;&nbsp; $2814 |
| JPY | &nbsp;&nbsp; 1682286308 | MSIP | 10/02/25 | USD | 11268580 | &nbsp;&nbsp; 107059 |
| JPY | &nbsp;&nbsp; 3663596020 | SG | 10/02/25 | USD | 24620941 | &nbsp;&nbsp; 152336 |
| KRW | &nbsp;&nbsp; 819027045 | BOA | 10/22/25 | USD | 591569 | &nbsp;&nbsp; (7276)<br>|
| KRW | &nbsp;&nbsp; 1485160000 | BNP | 10/10/25 | USD | 1070000 | &nbsp;&nbsp; (11123)<br>|
| KRW | &nbsp;&nbsp; 2861291339 | BNP | 10/20/25 | USD | 2080000 | &nbsp;&nbsp; (38961)<br>|
| KRW | &nbsp;&nbsp; 818607210 | BNP | 10/22/25 | USD | 591377 | &nbsp;&nbsp; (7384)<br>|
| KRW | &nbsp;&nbsp; 715772135 | GSBU | 10/15/25 | USD | 506924 | &nbsp;&nbsp; 3529 |
| KRW | &nbsp;&nbsp; 2187636104 | GSBU | 10/16/25 | USD | 1549906 | &nbsp;&nbsp; 10284 |
| KRW | &nbsp;&nbsp; 2861291339 | GSBU | 10/22/25 | USD | 2026185 | &nbsp;&nbsp; 15058 |
| KRW | &nbsp;&nbsp; 1485160000 | JPMC | 10/22/25 | USD | 1064986 | &nbsp;&nbsp; (5474)<br>|
| MXN | &nbsp;&nbsp; 6774000 | BOA | 12/17/25 | USD | 362569 | &nbsp;&nbsp; 4339 |
| MXN | &nbsp;&nbsp; 3816000 | BNP | 12/17/25 | USD | 205895 | &nbsp;&nbsp; 796 |
| MXN | &nbsp;&nbsp; 33303000 | GSBU | 12/17/25 | USD | 1720232 | &nbsp;&nbsp; 83597 |
| MXN | &nbsp;&nbsp; 21879666 | JPMC | 12/17/25 | USD | 1174558 | &nbsp;&nbsp; 10536 |
| MXN | &nbsp;&nbsp; 28975740 | UBSA | 12/17/25 | USD | 1520015 | &nbsp;&nbsp; 49432 |
| MXN | &nbsp;&nbsp; 239826413 | UBSA | 12/17/25 | USD | 12731667 | &nbsp;&nbsp; 258331 |
| MYR | &nbsp;&nbsp; 1435661 | BBP | 12/17/25 | USD | 342313 | &nbsp;&nbsp; (266)<br>|
| NOK | &nbsp;&nbsp; 121 | BBP | 10/02/25 | USD | 12 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 50656 | BBP | 10/02/25 | USD | 5076 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 5004608 | CBNA | 10/02/25 | USD | 501705 | &nbsp;&nbsp; (219)<br>|
| NOK | &nbsp;&nbsp; 1537 | MSIP | 10/02/25 | USD | 154 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 169302 | SG | 10/02/25 | USD | 16973 | &nbsp;&nbsp; (8)<br>|
| NZD | &nbsp;&nbsp; 1140524 | BOA | 10/02/25 | USD | 656714 | &nbsp;&nbsp; 4505 |
| NZD | &nbsp;&nbsp; 1738000 | BBP | 10/02/25 | USD | 1022503 | &nbsp;&nbsp; (14897)<br>|
| PLN | &nbsp;&nbsp; 154972 | BOA | 10/15/25 | USD | 42815 | &nbsp;&nbsp; (186)<br>|
| PLN | &nbsp;&nbsp; 15083000 | BOA | 10/22/25 | USD | 4164807 | &nbsp;&nbsp; (16162)<br>|
| PLN | &nbsp;&nbsp; 1510000 | BOA | 10/22/25 | USD | 419926 | &nbsp;&nbsp; (4593)<br>|
| PLN | &nbsp;&nbsp; 11609987 | BBP | 10/15/25 | USD | 3175237 | &nbsp;&nbsp; 18439 |
| PLN | &nbsp;&nbsp; 8680875 | BNP | 10/22/25 | USD | 2389401 | &nbsp;&nbsp; (1688)<br>|
| PLN | &nbsp;&nbsp; 4334864 | BNP | 10/22/25 | USD | 1189015 | &nbsp;&nbsp; 3309 |
| PLN | &nbsp;&nbsp; 7689352 | JPMC | 10/15/25 | USD | 2092443 | &nbsp;&nbsp; 22744 |
| PLN | &nbsp;&nbsp; 5011000 | JPMC | 10/22/25 | USD | 1377164 | &nbsp;&nbsp; 1134 |
| PLN | &nbsp;&nbsp; 4499635 | MSIP | 10/22/25 | USD | 1242982 | &nbsp;&nbsp; (5338)<br>|
| PLN | &nbsp;&nbsp; 4496994 | UBSA | 10/22/25 | USD | 1238793 | &nbsp;&nbsp; (1875)<br>|
| SGD | &nbsp;&nbsp; 53415404 | CBNA | 10/02/25 | USD | 41394326 | &nbsp;&nbsp; 14569 |
| SGD | &nbsp;&nbsp; 41452 | UBSA | 11/04/25 | USD | 32222 | &nbsp;&nbsp; (3)<br>|
| THB | &nbsp;&nbsp; 13572510 | GSBU | 10/20/25 | USD | 420000 | &nbsp;&nbsp; (554)<br>|
| THB | &nbsp;&nbsp; 13566924 | UBSA | 10/20/25 | USD | 420000 | &nbsp;&nbsp; (726)<br>|
| TRY | &nbsp;&nbsp; 41942919 | BBP | 10/01/25 | USD | 987008 | &nbsp;&nbsp; 21787 |
| TRY | &nbsp;&nbsp; 43209973 | BBP | 10/03/25 | USD | 1015391 | &nbsp;&nbsp; 23101 |
| TRY | &nbsp;&nbsp; 2823574 | BBP | 10/10/25 | USD | 65899 | &nbsp;&nbsp; 1601 |
| TRY | &nbsp;&nbsp; 5588471 | BBP | 10/14/25 | USD | 129998 | &nbsp;&nbsp; 3148 |
| TRY | &nbsp;&nbsp; 318944041 | BBP | 10/17/25 | USD | 7426457 | &nbsp;&nbsp; 153176 |
| TRY | &nbsp;&nbsp; 1424155 | BBP | 10/20/25 | USD | 32949 | &nbsp;&nbsp; 810 |
| TRY | &nbsp;&nbsp; 10511406 | BBP | 10/21/25 | USD | 244080 | &nbsp;&nbsp; 4882 |
| TRY | &nbsp;&nbsp; 10537025 | BBP | 10/21/25 | USD | 244674 | &nbsp;&nbsp; 4894 |
| TRY | &nbsp;&nbsp; 10112511 | BBP | 10/22/25 | USD | 234962 | &nbsp;&nbsp; 4351 |
| TRY | &nbsp;&nbsp; 2865113 | BBP | 10/27/25 | USD | 65898 | &nbsp;&nbsp; 1621 |
| TRY | &nbsp;&nbsp; 2865245 | BBP | 10/27/25 | USD | 65898 | &nbsp;&nbsp; 1625 |
| TRY | &nbsp;&nbsp; 230761268 | BBP | 10/30/25 | USD | 5337619 | &nbsp;&nbsp; 86911 |
| TRY | &nbsp;&nbsp; 10633895 | BBP | 10/31/25 | USD | 245371 | &nbsp;&nbsp; 4393 |
| TRY | &nbsp;&nbsp; 15167480 | BBP | 11/06/25 | USD | 349111 | &nbsp;&nbsp; 5396 |
| TRY | &nbsp;&nbsp; 48695750 | BBP | 11/07/25 | USD | 1117516 | &nbsp;&nbsp; 19736 |
| TRY | &nbsp;&nbsp; 79505512 | BBP | 11/10/25 | USD | 1825782 | &nbsp;&nbsp; 26577 |
| TRY | &nbsp;&nbsp; 468612373 | BBP | 11/10/25 | USD | 10739000 | &nbsp;&nbsp; 178966 |
| TRY | &nbsp;&nbsp; 92184684 | BBP | 11/20/25 | USD | 2116779 | &nbsp;&nbsp; 14038 |
| TRY | &nbsp;&nbsp; 21246215 | BBP | 11/25/25 | USD | 487522 | &nbsp;&nbsp; 1647 |
| TRY | &nbsp;&nbsp; 50424141 | BBP | 11/28/25 | USD | 1151683 | &nbsp;&nbsp; 6542 |

---

**BHFTI-273**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| TRY | &nbsp;&nbsp; 76726239 | BBP | 12/03/25 | USD | 1749424 | &nbsp;&nbsp; $5950 |
| TRY | &nbsp;&nbsp; 22113275 | BBP | 12/08/25 | USD | 502603 | &nbsp;&nbsp; 1176 |
| TRY | &nbsp;&nbsp; 22263490 | BBP | 12/10/25 | USD | 505736 | &nbsp;&nbsp; 609 |
| TRY | &nbsp;&nbsp; 34409032 | GSBU | 11/21/25 | USD | 789923 | &nbsp;&nbsp; 4803 |
| TWD | &nbsp;&nbsp; 23544990 | CBNA | 10/07/25 | USD | 772626 | &nbsp;&nbsp; 225 |
| TWD | &nbsp;&nbsp; 31164530 | CBNA | 10/20/25 | USD | 1027515 | &nbsp;&nbsp; (3542)<br>|
| TWD | &nbsp;&nbsp; 31412954 | CBNA | 10/20/25 | USD | 1030068 | &nbsp;&nbsp; 2067 |
| TWD | &nbsp;&nbsp; 7378628 | JPMC | 10/20/25 | USD | 242966 | &nbsp;&nbsp; (526)<br>|
| TWD | &nbsp;&nbsp; 50176798 | MSIP | 10/20/25 | USD | 1665454 | &nbsp;&nbsp; (16795)<br>|
| ZAR | &nbsp;&nbsp; 3391581 | UBSA | 10/02/25 | USD | 196314 | &nbsp;&nbsp; 72 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| AUD | &nbsp;&nbsp; 41294103 | BBP | 11/04/25 | USD | 27297450 | &nbsp;&nbsp; (39749)<br>|
| AUD | &nbsp;&nbsp; 29784103 | CBNA | 10/02/25 | USD | 19471417 | &nbsp;&nbsp; (236722)<br>|
| AUD | &nbsp;&nbsp; 709000 | JPMC | 10/02/25 | USD | 462621 | &nbsp;&nbsp; (6524)<br>|
| AUD | &nbsp;&nbsp; 8203000 | JPMC | 10/02/25 | USD | 5463268 | &nbsp;&nbsp; 35343 |
| AUD | &nbsp;&nbsp; 2598000 | MSIP | 10/02/25 | USD | 1727793 | &nbsp;&nbsp; 8696 |
| BRL | &nbsp;&nbsp; 3335054 | BOA | 10/02/25 | USD | 627055 | &nbsp;&nbsp; 430 |
| BRL | &nbsp;&nbsp; 49843287 | BNP | 10/02/25 | USD | 9371505 | &nbsp;&nbsp; 6427 |
| BRL | &nbsp;&nbsp; 1900000 | BNP | 04/02/26 | USD | 332980 | &nbsp;&nbsp; (8790)<br>|
| BRL | &nbsp;&nbsp; 1200000 | BNP | 04/02/26 | USD | 207408 | &nbsp;&nbsp; (8447)<br>|
| BRL | &nbsp;&nbsp; 1200000 | BNP | 04/02/26 | USD | 209552 | &nbsp;&nbsp; (6302)<br>|
| BRL | &nbsp;&nbsp; 1700000 | BNP | 04/02/26 | USD | 301900 | &nbsp;&nbsp; (3894)<br>|
| BRL | &nbsp;&nbsp; 25000000 | GSBU | 10/02/25 | USD | 4115396 | &nbsp;&nbsp; (581866)<br>|
| BRL | &nbsp;&nbsp; 3200000 | GSBU | 10/02/25 | USD | 526467 | &nbsp;&nbsp; (74782)<br>|
| BRL | &nbsp;&nbsp; 63676057 | GSBU | 10/02/25 | USD | 11924355 | &nbsp;&nbsp; (39768)<br>|
| BRL | &nbsp;&nbsp; 1600000 | GSBU | 10/02/25 | USD | 264502 | &nbsp;&nbsp; (36123)<br>|
| BRL | &nbsp;&nbsp; 4700000 | GSBU | 04/02/26 | USD | 812404 | &nbsp;&nbsp; (33026)<br>|
| BRL | &nbsp;&nbsp; 4700000 | GSBU | 04/02/26 | USD | 815070 | &nbsp;&nbsp; (30360)<br>|
| BRL | &nbsp;&nbsp; 3500000 | GSBU | 04/02/26 | USD | 612177 | &nbsp;&nbsp; (17399)<br>|
| BRL | &nbsp;&nbsp; 6100000 | GSBU | 04/02/26 | USD | 1096215 | &nbsp;&nbsp; (1045)<br>|
| BRL | &nbsp;&nbsp; 1400000 | GSBU | 04/02/26 | USD | 251130 | &nbsp;&nbsp; (700)<br>|
| BRL | &nbsp;&nbsp; 10100000 | GSBU | 04/02/26 | USD | 1817626 | &nbsp;&nbsp; 850 |
| BRL | &nbsp;&nbsp; 456947 | JPMC | 10/02/25 | USD | 83759 | &nbsp;&nbsp; (2097)<br>|
| BRL | &nbsp;&nbsp; 4700000 | MSIP | 10/02/25 | USD | 772899 | &nbsp;&nbsp; (110186)<br>|
| CAD | &nbsp;&nbsp; 38001 | BBP | 10/02/25 | USD | 27655 | &nbsp;&nbsp; 349 |
| CAD | &nbsp;&nbsp; 7538000 | CBNA | 10/02/25 | USD | 5454140 | &nbsp;&nbsp; 37482 |
| CAD | &nbsp;&nbsp; 79440170 | CBNA | 11/04/25 | USD | 57089799 | &nbsp;&nbsp; (84634)<br>|
| CAD | &nbsp;&nbsp; 70956993 | JPMC | 10/02/25 | USD | 51346152 | &nbsp;&nbsp; 357857 |
| CAD | &nbsp;&nbsp; 64350 | UBSA | 10/02/25 | USD | 46528 | &nbsp;&nbsp; 288 |
| CAD | &nbsp;&nbsp; 2435000 | UBSA | 10/02/25 | USD | 1762239 | &nbsp;&nbsp; 12496 |
| CHF | &nbsp;&nbsp; 1769120 | BBP | 10/02/25 | USD | 2216384 | &nbsp;&nbsp; (5989)<br>|
| CHF | &nbsp;&nbsp; 112541 | GSBU | 10/02/25 | USD | 140741 | &nbsp;&nbsp; (633)<br>|
| CHF | &nbsp;&nbsp; 112000 | JPMC | 10/02/25 | USD | 140399 | &nbsp;&nbsp; (296)<br>|
| CNH | &nbsp;&nbsp; 20864981 | BNP | 10/16/25 | USD | 2929619 | &nbsp;&nbsp; 1135 |
| CNH | &nbsp;&nbsp; 30394000 | CBNA | 10/16/25 | USD | 4279686 | &nbsp;&nbsp; 13767 |
| CNH | &nbsp;&nbsp; 22278549 | DBAG | 10/16/25 | USD | 3129757 | &nbsp;&nbsp; 2873 |
| CNH | &nbsp;&nbsp; 30857327 | DBAG | 10/16/25 | USD | 4344646 | &nbsp;&nbsp; 13697 |
| CNH | &nbsp;&nbsp; 41628996 | GSBU | 10/16/25 | USD | 5856770 | &nbsp;&nbsp; 13974 |
| CNH | &nbsp;&nbsp; 58023000 | GSBU | 10/16/25 | USD | 8165454 | &nbsp;&nbsp; 21694 |
| CNH | &nbsp;&nbsp; 22969840 | MSIP | 10/16/25 | USD | 3228013 | &nbsp;&nbsp; 4104 |
| DKK | &nbsp;&nbsp; 7169798 | CBNA | 10/02/25 | USD | 1119730 | &nbsp;&nbsp; (7943)<br>|
| DKK | &nbsp;&nbsp; 7153775 | JPMC | 11/04/25 | USD | 1126211 | &nbsp;&nbsp; (1555)<br>|
| EUR | &nbsp;&nbsp; 6952000 | BBP | 10/02/25 | USD | 8182315 | &nbsp;&nbsp; 20315 |
| EUR | &nbsp;&nbsp; 4840000 | BBP | 10/02/25 | USD | 5732182 | &nbsp;&nbsp; 49777 |
| EUR | &nbsp;&nbsp; 118216448 | JPMC | 10/02/25 | USD | 138258309 | &nbsp;&nbsp; (533790)<br>|
| EUR | &nbsp;&nbsp; 1868000 | JPMC | 10/02/25 | USD | 2205832 | &nbsp;&nbsp; 12705 |

---

**BHFTI-274**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| EUR | &nbsp;&nbsp; 121774448 | SG | 11/04/25 | USD | 143494017 | &nbsp;&nbsp; $238529 |
| GBP | &nbsp;&nbsp; 21876000 | BBP | 10/02/25 | USD | 29413835 | &nbsp;&nbsp; (7186)<br>|
| GBP | &nbsp;&nbsp; 22545000 | JPMC | 11/04/25 | USD | 30323767 | &nbsp;&nbsp; (2318)<br>|
| GBP | &nbsp;&nbsp; 4767000 | MSIP | 10/02/25 | USD | 6434714 | &nbsp;&nbsp; 23579 |
| IDR | &nbsp;&nbsp; 314823140 | BBP | 10/15/25 | USD | 19175 | &nbsp;&nbsp; 286 |
| IDR | &nbsp;&nbsp; 3808546461 | BNP | 10/08/25 | USD | 231003 | &nbsp;&nbsp; 2476 |
| IDR | &nbsp;&nbsp; 11638405260 | BNP | 10/08/25 | USD | 706134 | &nbsp;&nbsp; 7787 |
| IDR | &nbsp;&nbsp; 17845582240 | BNP | 10/08/25 | USD | 1082863 | &nbsp;&nbsp; 12062 |
| IDR | &nbsp;&nbsp; 19166429016 | BNP | 10/15/25 | USD | 1142491 | &nbsp;&nbsp; (7496)<br>|
| IDR | &nbsp;&nbsp; 15323837199 | BNP | 10/20/25 | USD | 930000 | &nbsp;&nbsp; 10610 |
| IDR | &nbsp;&nbsp; 13716410600 | BNP | 11/03/25 | USD | 820000 | &nbsp;&nbsp; (2845)<br>|
| IDR | &nbsp;&nbsp; 19794943558 | CBNA | 10/15/25 | USD | 1181294 | &nbsp;&nbsp; (6404)<br>|
| IDR | &nbsp;&nbsp; 16185884588 | CBNA | 10/15/25 | USD | 987697 | &nbsp;&nbsp; 16543 |
| IDR | &nbsp;&nbsp; 16546326045 | DBAG | 10/15/25 | USD | 1009569 | &nbsp;&nbsp; 16788 |
| IDR | &nbsp;&nbsp; 19015750440 | GSBU | 10/15/25 | USD | 1140033 | &nbsp;&nbsp; (913)<br>|
| IDR | &nbsp;&nbsp; 307686401 | GSBU | 12/17/25 | USD | 18293 | &nbsp;&nbsp; (156)<br>|
| IDR | &nbsp;&nbsp; 32998681828 | JPMC | 10/15/25 | USD | 1976324 | &nbsp;&nbsp; (3599)<br>|
| ILS | &nbsp;&nbsp; 6496661 | DBAG | 11/13/25 | USD | 1902362 | &nbsp;&nbsp; (59123)<br>|
| ILS | &nbsp;&nbsp; 798000 | JPMC | 11/13/25 | USD | 239261 | &nbsp;&nbsp; (1673)<br>|
| ILS | &nbsp;&nbsp; 4914898 | UBSA | 10/15/25 | USD | 1469173 | &nbsp;&nbsp; (14671)<br>|
| ILS | &nbsp;&nbsp; 5493233 | UBSA | 10/15/25 | USD | 1650710 | &nbsp;&nbsp; (7737)<br>|
| ILS | &nbsp;&nbsp; 652315 | UBSA | 11/13/25 | USD | 190720 | &nbsp;&nbsp; (6228)<br>|
| INR | &nbsp;&nbsp; 82787298 | BOA | 11/03/25 | USD | 930000 | &nbsp;&nbsp; (835)<br>|
| INR | &nbsp;&nbsp; 236829329 | CBNA | 10/15/25 | USD | 2665046 | &nbsp;&nbsp; (400)<br>|
| INR | &nbsp;&nbsp; 95584782 | CBNA | 10/17/25 | USD | 1076284 | &nbsp;&nbsp; 616 |
| INR | &nbsp;&nbsp; 97019823 | DBAG | 10/17/25 | USD | 1091705 | &nbsp;&nbsp; (113)<br>|
| INR | &nbsp;&nbsp; 57633579 | DBAG | 10/17/25 | USD | 649173 | &nbsp;&nbsp; 591 |
| INR | &nbsp;&nbsp; 23893476 | DBAG | 11/19/25 | USD | 268490 | &nbsp;&nbsp; 92 |
| INR | &nbsp;&nbsp; 23819400 | GSBU | 10/08/25 | USD | 270000 | &nbsp;&nbsp; 1816 |
| INR | &nbsp;&nbsp; 73024230 | GSBU | 10/20/25 | USD | 830000 | &nbsp;&nbsp; 8345 |
| INR | &nbsp;&nbsp; 709794680 | JPMC | 10/16/25 | USD | 7994174 | &nbsp;&nbsp; 6050 |
| JPY | &nbsp;&nbsp; 282559712 | BOA | 10/02/25 | USD | 1925834 | &nbsp;&nbsp; 15162 |
| JPY | &nbsp;&nbsp; 76535126 | BOA | 11/04/25 | USD | 512759 | &nbsp;&nbsp; (6572)<br>|
| JPY | &nbsp;&nbsp; 47838118 | BBP | 10/02/25 | USD | 325692 | &nbsp;&nbsp; 2210 |
| JPY | &nbsp;&nbsp; 153121939 | BBP | 10/02/25 | USD | 1043200 | &nbsp;&nbsp; 7788 |
| JPY | &nbsp;&nbsp; 88668570 | BNP | 11/04/25 | USD | 598853 | &nbsp;&nbsp; (2810)<br>|
| JPY | &nbsp;&nbsp; 4857 | CBNA | 11/04/25 | USD | 33 | &nbsp;&nbsp; — |
| JPY | &nbsp;&nbsp; 183474021 | MSIP | 10/02/25 | USD | 1243396 | &nbsp;&nbsp; 2743 |
| JPY | &nbsp;&nbsp; 1676462706 | MSIP | 11/04/25 | USD | 11268580 | &nbsp;&nbsp; (107106)<br>|
| JPY | &nbsp;&nbsp; 75743660 | MSIP | 11/04/25 | USD | 513664 | &nbsp;&nbsp; (297)<br>|
| JPY | &nbsp;&nbsp; 4920719998 | SG | 10/02/25 | USD | 33460196 | &nbsp;&nbsp; 186233 |
| JPY | &nbsp;&nbsp; 3650926084 | SG | 11/04/25 | USD | 24620941 | &nbsp;&nbsp; (152523)<br>|
| KRW | &nbsp;&nbsp; 3265283737 | DBAG | 10/22/25 | USD | 2355038 | &nbsp;&nbsp; 25588 |
| KRW | &nbsp;&nbsp; 715067137 | GSBU | 10/15/25 | USD | 515438 | &nbsp;&nbsp; 5488 |
| KRW | &nbsp;&nbsp; 2186529737 | GSBU | 10/16/25 | USD | 1570000 | &nbsp;&nbsp; 10599 |
| KRW | &nbsp;&nbsp; 2861291339 | GSBU | 10/20/25 | USD | 2025971 | &nbsp;&nbsp; (15068)<br>|
| KRW | &nbsp;&nbsp; 2187044815 | GSBU | 10/22/25 | USD | 1549906 | &nbsp;&nbsp; (10330)<br>|
| KRW | &nbsp;&nbsp; 715544019 | GSBU | 10/22/25 | USD | 506924 | &nbsp;&nbsp; (3544)<br>|
| KRW | &nbsp;&nbsp; 714846600 | GSBU | 11/03/25 | USD | 510000 | &nbsp;&nbsp; (277)<br>|
| KRW | &nbsp;&nbsp; 1485160000 | JPMC | 10/10/25 | USD | 1064379 | &nbsp;&nbsp; 5502 |
| KRW | &nbsp;&nbsp; 5651518958 | JPMC | 10/22/25 | USD | 4076575 | &nbsp;&nbsp; 44787 |
| MXN | &nbsp;&nbsp; 1306000 | GSBU | 12/17/25 | USD | 68789 | &nbsp;&nbsp; (1950)<br>|
| NOK | &nbsp;&nbsp; 121 | BBP | 11/04/25 | USD | 12 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 50646 | BBP | 11/04/25 | USD | 5076 | &nbsp;&nbsp; — |
| NOK | &nbsp;&nbsp; 390965 | CBNA | 10/02/25 | USD | 38709 | &nbsp;&nbsp; (468)<br>|
| NOK | &nbsp;&nbsp; 5003519 | CBNA | 11/04/25 | USD | 501705 | &nbsp;&nbsp; 222 |
| NOK | &nbsp;&nbsp; 1537 | MSIP | 11/04/25 | USD | 154 | &nbsp;&nbsp; — |

---

**BHFTI-275**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| NOK | &nbsp;&nbsp; 169266 | SG | 11/04/25 | USD | 16973 | &nbsp;&nbsp; $8 |
| NOK | &nbsp;&nbsp; 4834906 | UBSA | 10/02/25 | USD | 475096 | &nbsp;&nbsp; (9385)<br>|
| NZD | &nbsp;&nbsp; 1140524 | BOA | 11/04/25 | USD | 657541 | &nbsp;&nbsp; (4522)<br>|
| NZD | &nbsp;&nbsp; 3212925 | SG | 10/02/25 | USD | 1871940 | &nbsp;&nbsp; 9246 |
| PEN | &nbsp;&nbsp; 14798941 | BOA | 10/31/25 | USD | 4005777 | &nbsp;&nbsp; (253404)<br>|
| PEN | &nbsp;&nbsp; 2575425 | CBNA | 10/16/25 | USD | 736741 | &nbsp;&nbsp; (4743)<br>|
| PEN | &nbsp;&nbsp; 14075258 | CBNA | 10/17/25 | USD | 4027411 | &nbsp;&nbsp; (24863)<br>|
| PEN | &nbsp;&nbsp; 24571722 | CBNA | 05/26/26 | USD | 6890942 | &nbsp;&nbsp; (137237)<br>|
| PEN | &nbsp;&nbsp; 21882000 | DBAG | 01/26/26 | USD | 6110242 | &nbsp;&nbsp; (173098)<br>|
| SEK | &nbsp;&nbsp; 5530000 | BNP | 10/02/25 | USD | 589468 | &nbsp;&nbsp; 2070 |
| SGD | &nbsp;&nbsp; 10768870 | BOA | 10/02/25 | USD | 8377575 | &nbsp;&nbsp; 29290 |
| SGD | &nbsp;&nbsp; 1974023 | BNP | 10/02/25 | USD | 1540623 | &nbsp;&nbsp; 10313 |
| SGD | &nbsp;&nbsp; 856000 | CBNA | 10/02/25 | USD | 669936 | &nbsp;&nbsp; 6345 |
| SGD | &nbsp;&nbsp; 3903000 | CBNA | 10/02/25 | USD | 3033173 | &nbsp;&nbsp; 7474 |
| SGD | &nbsp;&nbsp; 3402000 | CBNA | 10/02/25 | USD | 2654240 | &nbsp;&nbsp; 16929 |
| SGD | &nbsp;&nbsp; 22039951 | CBNA | 10/02/25 | USD | 17218779 | &nbsp;&nbsp; 132883 |
| SGD | &nbsp;&nbsp; 53277023 | CBNA | 11/04/25 | USD | 41394326 | &nbsp;&nbsp; (15455)<br>|
| SGD | &nbsp;&nbsp; 205000 | GSBU | 10/02/25 | USD | 159992 | &nbsp;&nbsp; 1071 |
| SGD | &nbsp;&nbsp; 10225000 | GSBU | 10/02/25 | USD | 7984297 | &nbsp;&nbsp; 57633 |
| THB | &nbsp;&nbsp; 8205644 | CBNA | 10/20/25 | USD | 254293 | &nbsp;&nbsp; 705 |
| TRY | &nbsp;&nbsp; 20911552 | BBP | 10/01/25 | USD | 502603 | &nbsp;&nbsp; (354)<br>|
| TWD | &nbsp;&nbsp; 219321320 | BOA | 10/16/25 | USD | 7240000 | &nbsp;&nbsp; 35919 |
| TWD | &nbsp;&nbsp; 23588257 | BNP | 10/07/25 | USD | 770000 | &nbsp;&nbsp; (4270)<br>|
| TWD | &nbsp;&nbsp; 88178691 | BNP | 10/20/25 | USD | 2940000 | &nbsp;&nbsp; 42713 |
| TWD | &nbsp;&nbsp; 64071843 | BNP | 10/20/25 | USD | 2148476 | &nbsp;&nbsp; 43268 |
| TWD | &nbsp;&nbsp; 67852375 | BNP | 10/20/25 | USD | 2281519 | &nbsp;&nbsp; 52094 |
| TWD | &nbsp;&nbsp; 14002114 | BNP | 12/15/25 | USD | 466566 | &nbsp;&nbsp; 4644 |
| TWD | &nbsp;&nbsp; 4357380 | CBNA | 10/20/25 | USD | 146270 | &nbsp;&nbsp; 3099 |
| TWD | &nbsp;&nbsp; 53093545 | CBNA | 10/20/25 | USD | 1789469 | &nbsp;&nbsp; 44975 |
| TWD | &nbsp;&nbsp; 71321209 | CBNA | 10/20/25 | USD | 2396546 | &nbsp;&nbsp; 53145 |
| TWD | &nbsp;&nbsp; 59961070 | CBNA | 10/20/25 | USD | 2031408 | &nbsp;&nbsp; 61267 |
| TWD | &nbsp;&nbsp; 70023297 | CBNA | 10/20/25 | USD | 2374476 | &nbsp;&nbsp; 73721 |
| TWD | &nbsp;&nbsp; 115484742 | CBNA | 10/20/25 | USD | 3885497 | &nbsp;&nbsp; 91015 |
| TWD | &nbsp;&nbsp; 31227541 | CBNA | 12/15/25 | USD | 1030068 | &nbsp;&nbsp; (111)<br>|
| TWD | &nbsp;&nbsp; 30982660 | CBNA | 12/15/25 | USD | 1027515 | &nbsp;&nbsp; 5415 |
| TWD | &nbsp;&nbsp; 23307794 | CBNA | 01/22/26 | USD | 772626 | &nbsp;&nbsp; 1755 |
| TWD | &nbsp;&nbsp; 73301280 | GSBU | 10/15/25 | USD | 2424385 | &nbsp;&nbsp; 16827 |
| TWD | &nbsp;&nbsp; 49850369 | MSIP | 12/15/25 | USD | 1665454 | &nbsp;&nbsp; 20919 |
| ZAR | &nbsp;&nbsp; 41494000 | BOA | 11/20/25 | USD | 2381765 | &nbsp;&nbsp; (12660)<br>|
| ZAR | &nbsp;&nbsp; 19218000 | BOA | 11/20/25 | USD | 1097270 | &nbsp;&nbsp; (11711)<br>|
| ZAR | &nbsp;&nbsp; 36255000 | BOA | 11/20/25 | USD | 2080753 | &nbsp;&nbsp; (11353)<br>|
| ZAR | &nbsp;&nbsp; 31597000 | BOA | 11/20/25 | USD | 1820382 | &nbsp;&nbsp; (2934)<br>|
| ZAR | &nbsp;&nbsp; 38360000 | BOA | 11/20/25 | USD | 2213608 | &nbsp;&nbsp; 31 |
| ZAR | &nbsp;&nbsp; 13673876 | BBP | 11/20/25 | USD | 776589 | &nbsp;&nbsp; (12467)<br>|
| ZAR | &nbsp;&nbsp; 3391738 | CBNA | 10/02/25 | USD | 195855 | &nbsp;&nbsp; (540)<br>|
| ZAR | &nbsp;&nbsp; 20239000 | CBNA | 11/20/25 | USD | 1160620 | &nbsp;&nbsp; (7278)<br>|
| ZAR | &nbsp;&nbsp; 22001000 | CBNA | 11/20/25 | USD | 1267090 | &nbsp;&nbsp; (2485)<br>|
| ZAR | &nbsp;&nbsp; 5036000 | CBNA | 11/20/25 | USD | 290442 | &nbsp;&nbsp; (162)<br>|
| ZAR | &nbsp;&nbsp; 15548611 | DBAG | 11/20/25 | USD | 883494 | &nbsp;&nbsp; (13744)<br>|
| ZAR | &nbsp;&nbsp; 17470705 | DBAG | 11/20/25 | USD | 1002848 | &nbsp;&nbsp; (5305)<br>|
| ZAR | &nbsp;&nbsp; 12539000 | GSBU | 11/20/25 | USD | 723620 | &nbsp;&nbsp; 53 |
| ZAR | &nbsp;&nbsp; 14667353 | JPMC | 11/20/25 | USD | 831492 | &nbsp;&nbsp; (14892)<br>|
| ZAR | &nbsp;&nbsp; 14572379 | JPMC | 11/20/25 | USD | 836684 | &nbsp;&nbsp; (4220)<br>|
| ZAR | &nbsp;&nbsp; 3393185 | UBSA | 10/09/25 | USD | 196314 | &nbsp;&nbsp; (71)<br>|
| ZAR | &nbsp;&nbsp; 14873751 | UBSA | 11/20/25 | USD | 843738 | &nbsp;&nbsp; (14557)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp; $1114760 |

---

**BHFTI-276**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Australian 10 Year Treasury Bond Futures | &nbsp;&nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp;&nbsp; 156 | AUD | 17682857 | &nbsp;&nbsp;&nbsp; $(35002)<br>|
| Canada Government Bond 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; 431 | CAD | 52780260 | &nbsp;&nbsp;&nbsp; 786793 |
| Euro-Bobl Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; 16 | EUR | 1884960 | &nbsp;&nbsp;&nbsp; 605 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp;&nbsp; 243 | GBP | 22074120 | &nbsp;&nbsp;&nbsp; 60861 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 238 | USD | 49598828 | &nbsp;&nbsp;&nbsp; 31288 |
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 3045 | USD | 332499728 | &nbsp;&nbsp;&nbsp; 62869 |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 3576 | USD | 402300000 | &nbsp;&nbsp;&nbsp; 2429559 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 383 | USD | 45983938 | &nbsp;&nbsp;&nbsp; 1142369 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| Euro-Bund Futures | &nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp; (94)<br>| EUR | (12085580)<br>| &nbsp;&nbsp;&nbsp; (84048)<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (752)<br>| USD | (86538750)<br>| &nbsp;&nbsp;&nbsp; (911002)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $3484292 |

---

**Purchased Options** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Options** | **Strike** <br>**Price** | **Strike** <br>**Price** | **Expiration** <br>**Date**<br>| **Counterparty** | **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Paid**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| USD Call/AUD Put | USD | 0.623 | 10/14/25 | BBP | 8519000 | AUD | 8519000 | $24879 | $28 | $(24851)<br>|
| USD Call/AUD Put | USD | 0.625 | 10/08/25 | GSBU | 9054000 | AUD | 9054000 | 34923 | 6 | (34917)<br>|
| USD Call/EUR Put | USD | 1.100 | 12/17/25 | GSBU | 1816000 | EUR | 1816000 | 207702 | 42712 | (164990)<br>|
| USD Call/EUR Put | USD | 1.110 | 11/24/25 | MSIP | 19672000 | EUR | 19672000 | 92282 | 5566 | (86716)<br>|
| USD Call/EUR Put | USD | 1.110 | 11/26/25 | BNP | 3449000 | EUR | 3449000 | 14514 | 1101 | (13413)<br>|
| USD Call/EUR Put | USD | 1.122 | 10/14/25 | BNP | 403000 | EUR | 403000 | 49281 | 438 | (48843)<br>|
| USD Call/EUR Put | USD | 1.129 | 10/14/25 | GSBU | 17996000 | EUR | 17996000 | 69610 | 317 | (69293)<br>|
| USD Call/EUR Put | USD | 1.132 | 10/10/25 | BBP | 18454000 | EUR | 18454000 | 66822 | 195 | (66627)<br>|
| USD Call/EUR Put | USD | 1.145 | 10/08/25 | MSIP | 17876000 | EUR | 17876000 | 111701 | 882 | (110819)<br>|
| USD Call/SEK Put | SEK | 10.125 | 10/14/25 | MSIP | 1633000 | USD | 1633000 | 8533 | 2 | (8531)<br>|
| USD Call/SEK Put | SEK | 10.200 | 11/26/25 | BBP | 7362000 | USD | 7362000 | 45938 | 3180 | (42758)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $726185 | $54427 | $(671758)<br>|

---

**Written Options** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaptions** | **Strike** <br>**Rate**<br>| **Floating** <br>**Rate Index**<br>| **Pay/Receive** <br>**Floating** <br> **Rate**<br>| **Expiration** <br>**Date**<br>| **Counterparty** | **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Received**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Call - OTC - 10 Yr. IRS | 2.550% | 6M EURIBOR | Receive | 10/06/25 | MSCS | (2500000)<br>| EUR | (2500000)<br>| $(6408)<br>| $(136)<br>| $6272 |
| Call - OTC - 10 Yr. IRS | 2.550% | 6M EURIBOR | Receive | 10/17/25 | BBP | (3500000)<br>| EUR | (3500000)<br>| (8094)<br>| (2092)<br>| 6002 |
| Call - OTC - 10 Yr. IRS | 3.325% | 12M SOFR | Receive | 10/14/25 | BOA | (4900000)<br>| USD | (4900000)<br>| (13500)<br>| (547)<br>| 12953 |
| Call - OTC - 10 Yr. IRS | 3.375% | 12M SOFR | Receive | 10/14/25 | BOA | (6800000)<br>| USD | (6800000)<br>| (17680)<br>| (1525)<br>| 16155 |
| Call - OTC - 10 Yr. IRS | 3.385% | 12M SOFR | Receive | 10/10/25 | CBNA | (6900000)<br>| USD | (6900000)<br>| (21045)<br>| (676)<br>| 20369 |
| Call - OTC - 10 Yr. IRS | 3.398% | 12M SOFR | Receive | 10/06/25 | GSBU | (5000000)<br>| USD | (5000000)<br>| (15938)<br>| (97)<br>| 15841 |
| Call - OTC - 10 Yr. IRS | 3.506% | 12M SOFR | Receive | 10/06/25 | DBAG | (7000000)<br>| USD | (7000000)<br>| (23975)<br>| (1858)<br>| 22117 |
| Call - OTC - 10 Yr. IRS | 3.550% | 12M SOFR | Receive | 10/27/25 | GSBU | (2500000)<br>| USD | (2500000)<br>| (6750)<br>| (9087)<br>| (2337)<br>|
| Call - OTC - 10 Yr. IRS | 3.575% | 12M SOFR | Receive | 10/02/25 | BOA | (5000000)<br>| USD | (5000000)<br>| (15187)<br>| (905)<br>| 14282 |
| Put - OTC - 10 Yr. IRS | 2.750% | 6M EURIBOR | Pay | 10/17/25 | BBP | (3500000)<br>| EUR | (3500000)<br>| (8094)<br>| (6722)<br>| 1372 |
| Put - OTC - 10 Yr. IRS | 2.790% | 6M EURIBOR | Pay | 10/06/25 | MSCS | (2500000)<br>| EUR | (2500000)<br>| (6408)<br>| (339)<br>| 6069 |
| Put - OTC - 10 Yr. IRS | 3.625% | 12M SOFR | Pay | 10/14/25 | BOA | (4900000)<br>| USD | (4900000)<br>| (13499)<br>| (31061)<br>| (17562)<br>|
| Put - OTC - 10 Yr. IRS | 3.675% | 12M SOFR | Pay | 10/14/25 | BOA | (6800000)<br>| USD | (6800000)<br>| (17680)<br>| (28408)<br>| (10728)<br>|
| Put - OTC - 10 Yr. IRS | 3.685% | 12M SOFR | Pay | 10/10/25 | CBNA | (6900000)<br>| USD | (6900000)<br>| (20010)<br>| (21041)<br>| (1031)<br>|
| Put - OTC - 10 Yr. IRS | 3.698% | 12M SOFR | Pay | 10/06/25 | GSBU | (5000000)<br>| USD | (5000000)<br>| (15938)<br>| (8779)<br>| 7159 |

---

**BHFTI-277**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Written Options — (Continued)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaptions** | **Strike**<br> **Rate**<br>| **Floating**<br> **Rate Index**<br>| **Pay/Receive**<br> **Floating** <br> **Rate**<br>| **Expiration**<br> **Date**<br>| **Counterparty** | **Number of**<br> **Contracts**<br>| **Notional**<br> **Amount** | **Notional**<br> **Amount** | **Premiums**<br> **Received**<br>| **Market**<br> **Value**<br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| Put - OTC - 10 Yr. IRS | 3.806% | 12M SOFR | Pay | 10/06/25 | DBAG | (7000000)<br>| USD | (7000000)<br>| $(23975)<br>| $(1504)<br>| $22471 |
| Put - OTC - 10 Yr. IRS | 3.850% | 12M SOFR | Pay | 10/27/25 | GSBU | (2500000)<br>| USD | (2500000)<br>| (6750)<br>| (4179)<br>| 2571 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $(240931)<br>| $(118956)<br>| $121975 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on Exchange-Traded Futures Contracts** | **Strike** <br>**Price** | **Strike** <br>**Price** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Amount** | **Notional** <br>**Amount** | **Premiums** <br>**Received**<br>| **Market** <br>**Value**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Call - Euro-Bund Futures | EUR | 129.500 | 10/24/25 | &nbsp;&nbsp; (35)<br>| EUR | (35000)<br>| &nbsp;&nbsp; $(7755)<br>| &nbsp;&nbsp; $(9862)<br>| &nbsp;&nbsp; $(2107)<br>|
| Call - Euro-Bund Futures | EUR | 130.500 | 10/24/25 | &nbsp;&nbsp; (89)<br>| EUR | (89000)<br>| &nbsp;&nbsp; (40696)<br>| &nbsp;&nbsp; (9404)<br>| &nbsp;&nbsp; 31292 |
| Call- U.S. Treasury Note 10 Year Futures | USD | 113.500 | 10/24/25 | &nbsp;&nbsp; (191)<br>| USD | (191000)<br>| &nbsp;&nbsp; (43343)<br>| &nbsp;&nbsp; (41781)<br>| &nbsp;&nbsp; 1562 |
| Call- U.S. Treasury Note 10 Year Futures | USD | 114.000 | 10/24/25 | &nbsp;&nbsp; (172)<br>| USD | (172000)<br>| &nbsp;&nbsp; (43036)<br>| &nbsp;&nbsp; (24187)<br>| &nbsp;&nbsp; 18849 |
| Put - Euro-Bund Futures | EUR | 127.500 | 10/24/25 | &nbsp;&nbsp; (124)<br>| EUR | (124000)<br>| &nbsp;&nbsp; (45658)<br>| &nbsp;&nbsp; (27661)<br>| &nbsp;&nbsp; 17997 |
| Put- U.S. Treasury Note 10 Year Futures | USD | 111.000 | 10/24/25 | &nbsp;&nbsp; (106)<br>| USD | (106000)<br>| &nbsp;&nbsp; (19749)<br>| &nbsp;&nbsp; (11594)<br>| &nbsp;&nbsp; 8155 |
| Put- U.S. Treasury Note 10 Year Futures | USD | 111.500 | 10/24/25 | &nbsp;&nbsp; (257)<br>| USD | (257000)<br>| &nbsp;&nbsp; (47914)<br>| &nbsp;&nbsp; (52203)<br>| &nbsp;&nbsp; (4289)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $(248151)<br>| &nbsp;&nbsp; $(176692)<br>| &nbsp;&nbsp; $71459 |

---

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 12M SONIA | Annually | 3.750<br> %<br>| Annually | 09/17/30 | GBP | 12800000 | &nbsp;&nbsp; $(68344)<br>| &nbsp;&nbsp; $(65875)<br>| &nbsp;&nbsp; $(2469)<br>|
| Pay | 1-Day CDI | Maturity | 11.496<br> %<br>| Maturity | 01/04/27 | BRL | 22200000 | &nbsp;&nbsp; (152817)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (152817)<br>|
| Pay | 1-Day CDI | Maturity | 11.528<br> %<br>| Maturity | 01/04/27 | BRL | 23900000 | &nbsp;&nbsp; (161871)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (161871)<br>|
| Pay | 1-Day CDI | Maturity | 11.548<br> %<br>| Maturity | 01/04/27 | BRL | 190300000 | &nbsp;&nbsp; (1270118)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1270118)<br>|
| Pay | 1-Day CDI | Maturity | 13.291<br> %<br>| Maturity | 01/02/29 | BRL | 71500000 | &nbsp;&nbsp; (21883)<br>| &nbsp;&nbsp; (885)<br>| &nbsp;&nbsp; (20998)<br>|
| Pay | 1-Day CDI | Maturity | 13.320<br> %<br>| Maturity | 01/02/29 | BRL | 7500000 | &nbsp;&nbsp; (883)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (883)<br>|
| Pay | 1-Day CDI | Maturity | 13.354<br> %<br>| Maturity | 01/02/29 | BRL | 10300000 | &nbsp;&nbsp; 802 | &nbsp;&nbsp; — | &nbsp;&nbsp; 802 |
| Pay | 1-Day CDI | Maturity | 13.400<br> %<br>| Maturity | 01/02/29 | BRL | 95500000 | &nbsp;&nbsp; 50060 | &nbsp;&nbsp; (2302)<br>| &nbsp;&nbsp; 52362 |
| Pay | 1-Day CDI | Maturity | 13.926<br> %<br>| Maturity | 01/04/27 | BRL | 13400000 | &nbsp;&nbsp; (11964)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (11964)<br>|
| Pay | 1-Day CDI | Maturity | 13.927<br> %<br>| Maturity | 01/04/27 | BRL | 129800000 | &nbsp;&nbsp; (115288)<br>| &nbsp;&nbsp; 1167 | &nbsp;&nbsp; (116455)<br>|
| Pay | 1-Day CDI | Maturity | 14.009<br> %<br>| Maturity | 01/04/27 | BRL | 8600000 | &nbsp;&nbsp; (4446)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (4446)<br>|
| Pay | 3M NZDBB | Semi-Annually | 3.750<br> %<br>| Semi-Annually | 06/15/27 | NZD | 41800000 | &nbsp;&nbsp; 461196 | &nbsp;&nbsp; (224620)<br>| &nbsp;&nbsp; 685816 |
| Pay | 3M NZDBB | Semi-Annually | 4.250<br> %<br>| Semi-Annually | 12/21/27 | NZD | 2900000 | &nbsp;&nbsp; 57173 | &nbsp;&nbsp; 883 | &nbsp;&nbsp; 56290 |
| Pay | 6M BBSW | Semi-Annually | 4.000<br> %<br>| Semi-Annually | 03/19/35 | AUD | 13400000 | &nbsp;&nbsp; (171548)<br>| &nbsp;&nbsp; (13799)<br>| &nbsp;&nbsp; (157749)<br>|
| Pay | 6M BBSW | Semi-Annually | 4.500<br> %<br>| Semi-Annually | 03/20/34 | AUD | 11800000 | &nbsp;&nbsp; 178397 | &nbsp;&nbsp; (273973)<br>| &nbsp;&nbsp; 452370 |
| Pay | 6M BBSW | Semi-Annually | 4.500<br> %<br>| Semi-Annually | 09/18/34 | AUD | 21100000 | &nbsp;&nbsp; 296670 | &nbsp;&nbsp; 86591 | &nbsp;&nbsp; 210079 |
| Pay | 6M BBSW | Semi-Annually | 4.500<br> %<br>| Semi-Annually | 09/20/33 | AUD | 22600000 | &nbsp;&nbsp; 362852 | &nbsp;&nbsp; (220868)<br>| &nbsp;&nbsp; 583720 |
| Pay | 6M EURIBOR | Annually | 0.650<br> %<br>| Annually | 04/12/27 | EUR | 27000000 | &nbsp;&nbsp; (703029)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (703029)<br>|
| Pay | 6M EURIBOR | Annually | 1.000<br> %<br>| Annually | 05/13/27 | EUR | 23700000 | &nbsp;&nbsp; (498741)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (498741)<br>|
| Pay | 6M EURIBOR | Annually | 1.000<br> %<br>| Annually | 05/18/27 | EUR | 9200000 | &nbsp;&nbsp; (196081)<br>| &nbsp;&nbsp; (133920)<br>| &nbsp;&nbsp; (62161)<br>|
| Pay | 6M EURIBOR | Annually | 2.460<br> %<br>| Annually | 03/13/35 | EUR | 1800000 | &nbsp;&nbsp; (34452)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (34452)<br>|
| Pay | 6M EURIBOR | Annually | 2.610<br> %<br>| Annually | 03/24/35 | EUR | 1200000 | &nbsp;&nbsp; (5389)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5389)<br>|
| Pay | 6M EURIBOR | Annually | 2.750<br> %<br>| Annually | 03/18/36 | EUR | 35600000 | &nbsp;&nbsp; 59192 | &nbsp;&nbsp; 417 | &nbsp;&nbsp; 58775 |
| Receive | 12M ESTR | Annually | 2.050<br> %<br>| Annually | 10/05/29 | EUR | 3000000 | &nbsp;&nbsp; 5774 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5774 |
| Receive | 12M ESTR | Annually | 2.056<br> %<br>| Annually | 10/05/29 | EUR | 4300000 | &nbsp;&nbsp; 7045 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7045 |
| Receive | 12M SOFR | Annually | 1.750<br> %<br>| Annually | 06/15/32 | USD | 57000000 | &nbsp;&nbsp; 5883298 | &nbsp;&nbsp; 5896277 | &nbsp;&nbsp; (12979)<br>|
| Receive | 12M SOFR | Annually | 1.750<br> %<br>| Annually | 12/21/52 | USD | 62900000 | &nbsp;&nbsp; 23280542 | &nbsp;&nbsp; 10657396 | &nbsp;&nbsp; 12623146 |
| Receive | 12M SOFR | Annually | 3.250<br> %<br>| Annually | 06/18/30 | USD | 45500000 | &nbsp;&nbsp; 253139 | &nbsp;&nbsp; 613626 | &nbsp;&nbsp; (360487)<br>|
| Receive | 12M SOFR | Annually | 3.250<br> %<br>| Annually | 06/18/55 | USD | 25400000 | &nbsp;&nbsp; 3043113 | &nbsp;&nbsp; 2346145 | &nbsp;&nbsp; 696968 |
| Receive | 12M SOFR | Annually | 3.500<br> %<br>| Annually | 06/20/54 | USD | 63100000 | &nbsp;&nbsp; 4803778 | &nbsp;&nbsp; 1709623 | &nbsp;&nbsp; 3094155 |
| Receive | 12M SOFR | Annually | 3.500<br> %<br>| Annually | 12/18/25 | USD | 35800000 | &nbsp;&nbsp; 48205 | &nbsp;&nbsp; 5536 | &nbsp;&nbsp; 42669 |
| Receive | 12M SOFR | Annually | 3.500<br> %<br>| Annually | 12/18/54 | USD | 9200000 | &nbsp;&nbsp; 699624 | &nbsp;&nbsp; 214000 | &nbsp;&nbsp; 485624 |
| Receive | 12M SOFR | Annually | 3.551<br> %<br>| Annually | 09/17/35 | USD | 2500000 | &nbsp;&nbsp; 21397 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21397 |
| Receive | 12M SOFR | Annually | 3.585<br> %<br>| Annually | 10/31/30 | USD | 58300000 | &nbsp;&nbsp; (525615)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (525615)<br>|

---

**BHFTI-278**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Centrally Cleared Interest Rate Swap Contracts — (Continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive**<br> **Floating Rate** <br>| **Floating**<br> **Rate Index** <br>| **Payment**<br> **Frequency** <br>| **Fixed**<br> **Rate** <br>| **Payment**<br> **Frequency** <br>| **Maturity**<br> **Date** <br>| **Notional**<br> **Amount**  | **Notional**<br> **Amount**  | **Market**<br> **Value** <br>| **Upfront**<br> **Premiums**<br> **Paid/(Received)** <br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** <br>|
| Receive | 12M SOFR | Annually | 3.642<br> %<br>| Annually | 02/15/55 | USD | 3100000 | &nbsp;&nbsp; $158962 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $158962 |
| Receive | 12M SOFR | Annually | 3.655<br> %<br>| Annually | 02/15/55 | USD | 1600000 | &nbsp;&nbsp; 78382 | &nbsp;&nbsp; — | &nbsp;&nbsp; 78382 |
| Receive | 12M SOFR | Annually | 3.655<br> %<br>| Annually | 05/31/28 | USD | 63500000 | &nbsp;&nbsp; (483864)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (483864)<br>|
| Receive | 12M SOFR | Annually | 3.667<br> %<br>| Annually | 05/31/28 | USD | 23000000 | &nbsp;&nbsp; (182008)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (182008)<br>|
| Receive | 12M SOFR | Annually | 3.694<br> %<br>| Annually | 04/30/31 | USD | 27750000 | &nbsp;&nbsp; (390617)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (390617)<br>|
| Receive | 12M SOFR | Annually | 3.700<br> %<br>| Annually | 05/15/35 | USD | 15743000 | &nbsp;&nbsp; (98773)<br>| &nbsp;&nbsp; (179904)<br>| &nbsp;&nbsp; 81131 |
| Receive | 12M SOFR | Annually | 3.717<br> %<br>| Annually | 08/15/33 | USD | 20800000 | &nbsp;&nbsp; (250644)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (250644)<br>|
| Receive | 12M SOFR | Annually | 3.722<br> %<br>| Annually | 10/31/30 | USD | 3200000 | &nbsp;&nbsp; (49205)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (49205)<br>|
| Receive | 12M SOFR | Annually | 3.727<br> %<br>| Annually | 10/31/30 | USD | 7300000 | &nbsp;&nbsp; (113927)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (113927)<br>|
| Receive | 12M SOFR | Annually | 3.732<br> %<br>| Annually | 10/31/30 | USD | 5400000 | &nbsp;&nbsp; (85512)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (85512)<br>|
| Receive | 12M SOFR | Annually | 3.739<br> %<br>| Annually | 10/31/30 | USD | 8000000 | &nbsp;&nbsp; (129434)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (129434)<br>|
| Receive | 12M SOFR | Annually | 3.750<br> %<br>| Annually | 05/15/32 | USD | 67167000 | &nbsp;&nbsp; (1117370)<br>| &nbsp;&nbsp; (71648)<br>| &nbsp;&nbsp; (1045722)<br>|
| Receive | 12M SOFR | Annually | 3.750<br> %<br>| Annually | 12/18/29 | USD | 60700000 | &nbsp;&nbsp; (924625)<br>| &nbsp;&nbsp; (948284)<br>| &nbsp;&nbsp; 23659 |
| Receive | 12M SOFR | Annually | 3.753<br> %<br>| Annually | 08/15/33 | USD | 11300000 | &nbsp;&nbsp; (164127)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (164127)<br>|
| Receive | 12M SOFR | Annually | 3.763<br> %<br>| Annually | 08/15/33 | USD | 13400000 | &nbsp;&nbsp; (203960)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (203960)<br>|
| Receive | 12M SOFR | Annually | 3.765<br> %<br>| Annually | 12/17/54 | USD | 4600000 | &nbsp;&nbsp; 137980 | &nbsp;&nbsp; — | &nbsp;&nbsp; 137980 |
| Receive | 12M SOFR | Annually | 3.807<br> %<br>| Annually | 02/15/55 | USD | 1600000 | &nbsp;&nbsp; 35984 | &nbsp;&nbsp; — | &nbsp;&nbsp; 35984 |
| Receive | 12M SOFR | Annually | 3.899<br> %<br>| Annually | 03/11/35 | USD | 580000 | &nbsp;&nbsp; (12600)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (12600)<br>|
| Receive | 12M SOFR | Annually | 3.930<br> %<br>| Annually | 03/24/35 | USD | 5700000 | &nbsp;&nbsp; (137511)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (137511)<br>|
| Receive | 12M SOFR | Annually | 4.095<br> %<br>| Annually | 02/18/35 | USD | 4430000 | &nbsp;&nbsp; (166073)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (166073)<br>|
| Receive | 12M TONA | Annually | 1.250<br> %<br>| Annually | 06/18/32 | JPY | 7670000000 | &nbsp;&nbsp; 134350 | &nbsp;&nbsp; (1358693)<br>| &nbsp;&nbsp; 1493043 |
| Receive | 1-Day CDI | Maturity | 13.000<br> %<br>| Maturity | 01/02/29 | BRL | 31700000 | &nbsp;&nbsp; 27399 | &nbsp;&nbsp; — | &nbsp;&nbsp; 27399 |
| Receive | 1-Day CDI | Maturity | 13.017<br> %<br>| Maturity | 01/02/29 | BRL | 130500000 | &nbsp;&nbsp; 105454 | &nbsp;&nbsp; — | &nbsp;&nbsp; 105454 |
| Receive | 6M CORRA | Semi-Annually | 2.740<br> %<br>| Semi-Annually | 06/01/34 | CAD | 2800000 | &nbsp;&nbsp; 7958 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7958 |
| Receive | 6M CORRA | Semi-Annually | 3.000<br> %<br>| Semi-Annually | 06/01/33 | CAD | 3900000 | &nbsp;&nbsp; (54280)<br>| &nbsp;&nbsp; 12840 | &nbsp;&nbsp; (67120)<br>|
| Receive | 6M CORRA | Semi-Annually | 3.000<br> %<br>| Semi-Annually | 06/01/34 | CAD | 3300000 | &nbsp;&nbsp; (38135)<br>| &nbsp;&nbsp; (3257)<br>| &nbsp;&nbsp; (34878)<br>|
| Receive | 6M CORRA | Semi-Annually | 3.000<br> %<br>| Semi-Annually | 06/01/34 | CAD | 2000000 | &nbsp;&nbsp; (23112)<br>| &nbsp;&nbsp; 697 | &nbsp;&nbsp; (23809)<br>|
| Receive | 6M CORRA | Semi-Annually | 3.500<br> %<br>| Semi-Annually | 06/01/32 | CAD | 43550000 | &nbsp;&nbsp; (1633756)<br>| &nbsp;&nbsp; (299344)<br>| &nbsp;&nbsp; (1334412)<br>|
| Receive | 6M CORRA | Semi-Annually | 3.750<br> %<br>| Semi-Annually | 12/20/33 | CAD | 1200000 | &nbsp;&nbsp; (62877)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (62877)<br>|
| Receive | 6M EURIBOR | Annually | 2.350<br> %<br>| Annually | 04/29/30 | EUR | 2400000 | &nbsp;&nbsp; 1104 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1104 |
| Receive | 6M EURIBOR | Annually | 3.000<br> %<br>| Annually | 03/18/56 | EUR | 26560000 | &nbsp;&nbsp; (502320)<br>| &nbsp;&nbsp; (378863)<br>| &nbsp;&nbsp; (123457)<br>|
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $29432631 | &nbsp;&nbsp; $17368963 | &nbsp;&nbsp; $12063668 |

---

**Centrally Cleared Credit Default Swap Contracts on Credit Indices—Sell Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| CDX.NA.IG.45.V1 | 1.000% | &nbsp;&nbsp; Quarterly | &nbsp;&nbsp; 12/20/30 | &nbsp;&nbsp; 0.519% | &nbsp;&nbsp; USD | 2500000 | &nbsp;&nbsp; $56645 | &nbsp;&nbsp; $55570 | &nbsp;&nbsp; $1075 |

---

**Centrally Cleared Credit Default Swap Contracts on Corporate Issues—Sell Protection (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| &nbsp;&nbsp;&nbsp; AES Corp. <br>1.375%, due 01/15/26<br>| 5.000<br> %<br>| Quarterly | 12/20/28 | 0.706<br> %<br>| USD | 3800000 | &nbsp;&nbsp; $495946 | &nbsp;&nbsp; $292825 | &nbsp;&nbsp; $203121 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. <br>3.800%, due 02/15/27<br>| 1.000<br> %<br>| Quarterly | 06/20/28 | 0.402<br> %<br>| USD | 21100000 | &nbsp;&nbsp; 332008 | &nbsp;&nbsp; (67141)<br>| &nbsp;&nbsp; 399149 |
| &nbsp;&nbsp;&nbsp; Barclays Bank PLC <br>1.500%, due 04/04/17<br>| 1.000<br> %<br>| Quarterly | 12/20/25 | 0.243<br> %<br>| EUR | 9300000 | &nbsp;&nbsp; 18540 | &nbsp;&nbsp; 9471 | &nbsp;&nbsp; 9069 |
| &nbsp;&nbsp;&nbsp; Boeing Co. <br>2.600%, due 10/30/25<br>| 1.000<br> %<br>| Quarterly | 12/20/27 | 0.352<br> %<br>| USD | 3400000 | &nbsp;&nbsp; 47286 | &nbsp;&nbsp; (64109)<br>| &nbsp;&nbsp; 111395 |

---

**BHFTI-279**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Centrally Cleared Credit Default Swap Contracts on Corporate Issues—Sell Protection (a) — (Continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal**<br> **Receive Rate** <br>| **Payment**<br> **Frequency** <br>| **Maturity**<br> **Date** <br>| **Implied**<br> **Credit Spread** <sup>(b)</sup><br>| **Notional**<br> **Amount** <sup>(c)</sup> | **Notional**<br> **Amount** <sup>(c)</sup> | **Market**<br> **Value** <br>| **Upfront**<br> **Premiums**<br> **Paid/(Received)** <br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** <br>|
| &nbsp;&nbsp;&nbsp; Boeing Co. <br>2.600%, due 10/30/25<br>| 1.000<br> %<br>| Quarterly | 12/20/29 | 0.529<br> %<br>| USD | 400000 | &nbsp;&nbsp; $7387 | &nbsp;&nbsp; $(5920)<br>| &nbsp;&nbsp; $13307 |
| &nbsp;&nbsp;&nbsp; Boeing Co. <br>5.150%, due 05/01/30<br>| 1.000<br> %<br>| Quarterly | 12/20/30 | 0.648<br> %<br>| USD | 14600000 | &nbsp;&nbsp; 242637 | &nbsp;&nbsp; 223839 | &nbsp;&nbsp; 18798 |
| &nbsp;&nbsp;&nbsp; General Electric Co. <br>2.700%, due 10/09/22<br>| 1.000<br> %<br>| Quarterly | 06/20/26 | 0.065<br> %<br>| USD | 4700000 | &nbsp;&nbsp; 31532 | &nbsp;&nbsp; 7129 | &nbsp;&nbsp; 24403 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. <br>3.250%, due 11/15/27<br>| 1.000<br> %<br>| Quarterly | 06/20/30 | 0.528<br> %<br>| USD | 3200000 | &nbsp;&nbsp; 66816 | &nbsp;&nbsp; 69318 | &nbsp;&nbsp; (2502)<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. <br>4.750%, due 02/01/28<br>| 5.000<br> %<br>| Quarterly | 06/20/28 | 0.262<br> %<br>| USD | 7000000 | &nbsp;&nbsp; 865935 | &nbsp;&nbsp; 656605 | &nbsp;&nbsp; 209330 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. <br>4.125%, due 03/16/27<br>| 1.000<br> %<br>| Quarterly | 12/20/27 | 0.335<br> %<br>| USD | 500000 | &nbsp;&nbsp; 7104 | &nbsp;&nbsp; (3828)<br>| &nbsp;&nbsp; 10932 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. <br>4.125%, due 03/16/27<br>| 1.000<br> %<br>| Quarterly | 06/20/28 | 0.391<br> %<br>| USD | 4900000 | &nbsp;&nbsp; 78145 | &nbsp;&nbsp; 2052 | &nbsp;&nbsp; 76093 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. <br>4.125%, due 03/16/27<br>| 1.000<br> %<br>| Quarterly | 12/20/28 | 0.430<br> %<br>| USD | 1200000 | &nbsp;&nbsp; 20722 | &nbsp;&nbsp; (1829)<br>| &nbsp;&nbsp; 22551 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $2214058 | &nbsp;&nbsp; $1118412 | &nbsp;&nbsp; $1095646 |

---

**OTC Credit Default Swap Contracts on Corporate and Sovereign Issues—Sell Protection (a)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 12/20/26 | BBP | 0.766<br> %<br>| USD | 2400000 | $6733 | $(27671)<br>| $34404 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 12/20/26 | CBNA | 0.766<br> %<br>| USD | 1700000 | 4769 | (20869)<br>| 25638 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 12/20/26 | JPMC | 0.766<br> %<br>| USD | 3200000 | 8977 | (20271)<br>| 29248 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 06/20/27 | BNP | 0.933<br> %<br>| USD | 2400000 | 2697 | (37746)<br>| 40443 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 06/20/27 | CBNA | 0.933<br> %<br>| USD | 400000 | 450 | (4754)<br>| 5204 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 06/20/27 | GSI | 0.933<br> %<br>| USD | 3200000 | 3597 | (38808)<br>| 42405 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 06/20/27 | JPMC | 0.933<br> %<br>| USD | 1300000 | 1461 | (16499)<br>| 17960 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 12/20/27 | BNP | 1.025<br> %<br>| USD | 500000 | (263)<br>| (19017)<br>| 18754 |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bond <br>10.375%, due 01/28/33<br>| 1.000% | Quarterly | 12/20/27 | GSI | 1.025<br> %<br>| USD | 1400000 | (736)<br>| (53235)<br>| 52499 |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos <br>1.350%, due 12/31/99 (d)<br>| 4.850% | Monthly | 07/06/26 | DBAG | 0.000<br> %<br>| USD | 1411680 | 13800 |  | 13800 |
| &nbsp;&nbsp;&nbsp; Republic of South Africa <br>5.875%, due 09/16/25<br>| 1.000% | Quarterly | 12/20/26 | CBNA | 0.394<br> %<br>| USD | 3100000 | 22583 | (37218)<br>| 59801 |
| &nbsp;&nbsp;&nbsp; Republic of South Africa <br>5.875%, due 09/16/25<br>| 1.000% | Quarterly | 12/20/26 | MSCS | 0.394<br> %<br>| USD | 31300000 | 228011 | (374360)<br>| 602371 |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. <br>2.840%, due 12/14/29<br>| 1.000% | Quarterly | 06/20/26 | GSI | 0.872<br> %<br>| USD | 2100000 | 1916 | (10252)<br>| 12168 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | $293995 | $(660700)<br>| $954695 |

---

**BHFTI-280**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**OTC Credit Default Swap Contracts on Credit Indices—Sell Protection (a)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation**  | **Fixed Deal** <br>**Receive Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Implied** <br>**Credit Spread** <sup>(b)</sup> <br>| **Notional** <br>**Amount** <sup>(c)</sup>  | **Notional** <br>**Amount** <sup>(c)</sup>  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| ITRX.EUR.XOVER.42.V3 | 5.000% | &nbsp;&nbsp; Quarterly | 12/20/29 | BNP | 0.506<br> %<br>| EUR | &nbsp;&nbsp; 14109515 | &nbsp;&nbsp; $2902702 | &nbsp;&nbsp; $2432087 | &nbsp;&nbsp; $470615 |
| ITRX.EUR.XOVER.42.V3 | 5.000% | &nbsp;&nbsp; Quarterly | 12/20/29 | JPMC | 0.506<br> %<br>| EUR | &nbsp;&nbsp; 23676926 | &nbsp;&nbsp; 4870973 | &nbsp;&nbsp; 4127081 | &nbsp;&nbsp; 743892 |
| Totals | Totals | Totals | Totals | Totals | Totals | Totals | Totals | &nbsp;&nbsp; $7773675 | &nbsp;&nbsp; $6559168 | &nbsp;&nbsp; $1214507 |

---

**OTC Total Return Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Counterparty**  | **Underlying Reference** <br>**Instrument** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <sup>(1)</sup> <br>|
| Receive | 12M SOFR | Monthly | 09/23/26 | JPMC | iShares iBoxx $ IG Corporate Bond ETF | USD | 133512000 | $(252000)<br>| $— | $(252000)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Significant unobservable inputs were used in the valuation of this portfolio security;
 i.e. Level 3.

&nbsp;&nbsp;&nbsp;&nbsp;(1) There were no upfront premiums paid or (received), therefore Market Value equals Unrealized
 Appreciation/(Depreciation).

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1600521971 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1600521971 |
| Corporate Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace/Defense | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16523060 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16523060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agriculture | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21290608 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21290608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airlines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14096713 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14096713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Auto Manufacturers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 137789258 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 137789258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 511521190 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 511521190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5042206 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5042206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 49435392 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 49435392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Computers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4788513 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4788513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Financial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 114995730 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 114995730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 169837020 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 169837020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronics | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10388662 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10388662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Environmental Control | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3894876 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3894876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20656219 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20656219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21860451 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21860451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare-Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37308255 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37308255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52414178 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52414178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21079908 | &nbsp;&nbsp;&nbsp; 1531177 | &nbsp;&nbsp;&nbsp; 22611085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lodging | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16200295 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16200295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14555372 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14555372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Gas | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15217216 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15217216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33110468 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33110468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pipelines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34561825 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 34561825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6864035 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6864035 |

---

**BHFTI-281**

------

**Brighthouse Funds Trust I**

**PIMCO Total Return Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $116693451 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $116693451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2738791 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2738791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Savings & Loans | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8340681 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8340681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10376583 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10376583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shipbuilding | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12961018 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12961018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28666833 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28666833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telecommunications | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15904973 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15904973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Water | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 45067 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 45067 |
| Total Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1529158847 | &nbsp;&nbsp;&nbsp; 1531177 | &nbsp;&nbsp;&nbsp; 1530690024 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 765520324 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 765520324 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 407813309 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 407813309 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 302368646 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 302368646 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 301074807 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 301074807 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 38044638 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 38044638 |
| Floating Rate Loans |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 857351 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 857351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5076699 | &nbsp;&nbsp;&nbsp; 5076699 |
| Total Floating Rate Loans | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 857351 | &nbsp;&nbsp;&nbsp; 5076699 | &nbsp;&nbsp;&nbsp; 5934050 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13769420 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13769420 |
| Total Purchased Options at Value\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 54427 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 54427 |
| Total Investments | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4959183740 | &nbsp;&nbsp;&nbsp; $6607876 | &nbsp;&nbsp;&nbsp; $4965791616 |
| Reverse Repurchase Agreements (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(60954750)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(60954750)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4932312 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4932312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3817552)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3817552)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1114760 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1114760 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $4514344 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4514344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (1030052)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1030052)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $3484292 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3484292 |
| Written Options |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Swaptions at Value | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(118956)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(118956)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Options on Exchange-Traded Futures Contracts at Value | &nbsp;&nbsp;&nbsp; (176692)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (176692)<br>|
| Total Written Options | &nbsp;&nbsp;&nbsp; $(176692)<br>| &nbsp;&nbsp;&nbsp; $(118956)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(295648)<br>|
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $22327271 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $22327271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (9166882)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (9166882)<br>|
| Total Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $13160389 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $13160389 |
| OTC Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Assets) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $8054869 | &nbsp;&nbsp;&nbsp; $13800 | &nbsp;&nbsp;&nbsp; $8068669 |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Swap Contracts at Value (Liabilities) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (252999)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (252999)<br>|
| Total OTC Swap Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $7801870 | &nbsp;&nbsp;&nbsp; $13800 | &nbsp;&nbsp;&nbsp; $7815670 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

**BHFTI-282**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—57.9% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** |
| Airbus SE | 1011 | &nbsp;&nbsp;&nbsp; $236337 |
| ATI, Inc. (a) | 2275 | &nbsp;&nbsp;&nbsp; 185048 |
| Axon Enterprise, Inc. (a) | 368 | &nbsp;&nbsp;&nbsp; 264091 |
| BAE Systems PLC | 6780 | &nbsp;&nbsp;&nbsp; 187873 |
| Boeing Co. (a) | 1020 | &nbsp;&nbsp;&nbsp; 220147 |
| Curtiss-Wright Corp.  | 144 | &nbsp;&nbsp;&nbsp; 78183 |
| General Dynamics Corp.  | 672 | &nbsp;&nbsp;&nbsp; 229152 |
| General Electric Co.  | 8799 | &nbsp;&nbsp;&nbsp; 2646915 |
| HEICO Corp.  | 782 | &nbsp;&nbsp;&nbsp; 252445 |
| Howmet Aerospace, Inc.  | 7630 | &nbsp;&nbsp;&nbsp; 1497235 |
| Kongsberg Gruppen ASA | 2364 | &nbsp;&nbsp;&nbsp; 75528 |
| L3Harris Technologies, Inc.  | 171 | &nbsp;&nbsp;&nbsp; 52225 |
| Leonardo SpA | 792 | &nbsp;&nbsp;&nbsp; 50311 |
| Rheinmetall AG | 83 | &nbsp;&nbsp;&nbsp; 193212 |
| Rocket Lab Corp. (a) (b) | 931 | &nbsp;&nbsp;&nbsp; 44604 |
| Rolls-Royce Holdings PLC | 27354 | &nbsp;&nbsp;&nbsp; 437932 |
| RTX Corp.  | 10330 | &nbsp;&nbsp;&nbsp; 1728519 |
| Saab AB - Class B | 2694 | &nbsp;&nbsp;&nbsp; 164102 |
| Safran SA | 921 | &nbsp;&nbsp;&nbsp; 326164 |
| Thales SA | 171 | &nbsp;&nbsp;&nbsp; 53588 |
| TransDigm Group, Inc.  | 488 | &nbsp;&nbsp;&nbsp; 643194 |
|  |  | &nbsp;&nbsp;&nbsp; 9566805 |
| **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** |
| Deutsche Post AG | 1058 | &nbsp;&nbsp;&nbsp; 47187 |
| DSV AS | 609 | &nbsp;&nbsp;&nbsp; 121581 |
| FedEx Corp.  | 792 | &nbsp;&nbsp;&nbsp; 186761 |
| United Parcel Service, Inc. - Class B | 856 | &nbsp;&nbsp;&nbsp; 71502 |
|  |  | &nbsp;&nbsp;&nbsp; 427031 |
| **Automobile Components — 0.0%** | **Automobile Components — 0.0%** | **Automobile Components — 0.0%** |
| Aptiv PLC (a) | 796 | &nbsp;&nbsp;&nbsp; 68631 |
| Niterra Co. Ltd.  | 1200 | &nbsp;&nbsp;&nbsp; 46253 |
| Sumitomo Electric Industries Ltd.  | 4300 | &nbsp;&nbsp;&nbsp; 122167 |
|  |  | &nbsp;&nbsp;&nbsp; 237051 |
| **Automobiles — 1.0%** | **Automobiles — 1.0%** | **Automobiles — 1.0%** |
| Ferrari NV | 644 | &nbsp;&nbsp;&nbsp; 311794 |
| Ford Motor Co.  | 10353 | &nbsp;&nbsp;&nbsp; 123822 |
| General Motors Co.  | 2323 | &nbsp;&nbsp;&nbsp; 141633 |
| Honda Motor Co. Ltd. (b) | 12700 | &nbsp;&nbsp;&nbsp; 130473 |
| Mercedes-Benz Group AG | 1450 | &nbsp;&nbsp;&nbsp; 91108 |
| Rivian Automotive, Inc. - Class A (a) (b) | 3100 | &nbsp;&nbsp;&nbsp; 45508 |
| Stellantis NV | 5340 | &nbsp;&nbsp;&nbsp; 49428 |
| Subaru Corp.  | 2300 | &nbsp;&nbsp;&nbsp; 47137 |
| Suzuki Motor Corp.  | 5500 | &nbsp;&nbsp;&nbsp; 80172 |
| Tesla, Inc. (a) | 9662 | &nbsp;&nbsp;&nbsp; 4296885 |
| Toyota Motor Corp.  | 30400 | &nbsp;&nbsp;&nbsp; 581785 |
|  |  | &nbsp;&nbsp;&nbsp; 5899745 |
| **Banks — 3.6%** | **Banks — 3.6%** | **Banks — 3.6%** |
| ABN AMRO Bank NV | 3447 | &nbsp;&nbsp;&nbsp; 110388 |
| ANZ Group Holdings Ltd.  | 8942 | &nbsp;&nbsp;&nbsp; 196073 |
| Banco Bilbao Vizcaya Argentaria SA (b) | 19161 | &nbsp;&nbsp;&nbsp; 368629 |
| Banco Santander SA | 66334 | &nbsp;&nbsp;&nbsp; 693276 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Bank of America Corp.  | 25598 | &nbsp;&nbsp;&nbsp; $1320601 |
| Bank of Montreal | 2028 | &nbsp;&nbsp;&nbsp; 264265 |
| Bank of Nova Scotia (b) | 2444 | &nbsp;&nbsp;&nbsp; 158034 |
| Barclays PLC | 73593 | &nbsp;&nbsp;&nbsp; 377370 |
| BNP Paribas SA | 4193 | &nbsp;&nbsp;&nbsp; 382226 |
| BOC Hong Kong Holdings Ltd.  | 9500 | &nbsp;&nbsp;&nbsp; 44660 |
| BPER Banca SpA | 4266 | &nbsp;&nbsp;&nbsp; 47402 |
| CaixaBank SA | 19636 | &nbsp;&nbsp;&nbsp; 206743 |
| Canadian Imperial Bank of Commerce (b) | 1316 | &nbsp;&nbsp;&nbsp; 105161 |
| Citigroup, Inc.  | 7105 | &nbsp;&nbsp;&nbsp; 721157 |
| Citizens Financial Group, Inc.  | 1725 | &nbsp;&nbsp;&nbsp; 91701 |
| Commerzbank AG | 4401 | &nbsp;&nbsp;&nbsp; 165767 |
| Commonwealth Bank of Australia | 3122 | &nbsp;&nbsp;&nbsp; 345198 |
| Danske Bank AS | 2467 | &nbsp;&nbsp;&nbsp; 105419 |
| DBS Group Holdings Ltd.  | 14120 | &nbsp;&nbsp;&nbsp; 559221 |
| DNB Bank ASA | 1800 | &nbsp;&nbsp;&nbsp; 49156 |
| Erste Group Bank AG | 1273 | &nbsp;&nbsp;&nbsp; 124443 |
| Eurobank Ergasias Services & Holdings SA - Class A | 14032 | &nbsp;&nbsp;&nbsp; 53985 |
| Fifth Third Bancorp | 1586 | &nbsp;&nbsp;&nbsp; 70656 |
| First Horizon Corp.  | 2033 | &nbsp;&nbsp;&nbsp; 45966 |
| HSBC Holdings PLC | 71233 | &nbsp;&nbsp;&nbsp; 1005155 |
| Huntington Bancshares, Inc.  | 4717 | &nbsp;&nbsp;&nbsp; 81463 |
| ING Groep NV | 14684 | &nbsp;&nbsp;&nbsp; 382680 |
| Intesa Sanpaolo SpA | 71215 | &nbsp;&nbsp;&nbsp; 470953 |
| JPMorgan Chase & Co.  | 15684 | &nbsp;&nbsp;&nbsp; 4947204 |
| KBC Group NV | 817 | &nbsp;&nbsp;&nbsp; 97925 |
| KeyCorp | 3249 | &nbsp;&nbsp;&nbsp; 60724 |
| Lloyds Banking Group PLC | 253782 | &nbsp;&nbsp;&nbsp; 285872 |
| M&T Bank Corp.  | 517 | &nbsp;&nbsp;&nbsp; 102170 |
| Mediobanca Banca di Credito Finanziario SpA | 5164 | &nbsp;&nbsp;&nbsp; 104544 |
| Mitsubishi UFJ Financial Group, Inc.  | 49500 | &nbsp;&nbsp;&nbsp; 784148 |
| Mizuho Financial Group, Inc.  | 16090 | &nbsp;&nbsp;&nbsp; 538531 |
| National Australia Bank Ltd.  | 5652 | &nbsp;&nbsp;&nbsp; 165425 |
| National Bank of Canada (b) | 1589 | &nbsp;&nbsp;&nbsp; 168788 |
| NatWest Group PLC | 28756 | &nbsp;&nbsp;&nbsp; 201841 |
| Nordea Bank Abp | 8123 | &nbsp;&nbsp;&nbsp; 133352 |
| Oversea-Chinese Banking Corp. Ltd.  | 16500 | &nbsp;&nbsp;&nbsp; 210418 |
| PNC Financial Services Group, Inc.  | 1882 | &nbsp;&nbsp;&nbsp; 378150 |
| Popular, Inc.  | 411 | &nbsp;&nbsp;&nbsp; 52201 |
| Regions Financial Corp.  | 3395 | &nbsp;&nbsp;&nbsp; 89526 |
| Resona Holdings, Inc.  | 7000 | &nbsp;&nbsp;&nbsp; 71260 |
| Royal Bank of Canada (b) | 5642 | &nbsp;&nbsp;&nbsp; 831564 |
| Societe Generale SA | 2820 | &nbsp;&nbsp;&nbsp; 187573 |
| Standard Chartered PLC | 11213 | &nbsp;&nbsp;&nbsp; 217302 |
| Sumitomo Mitsui Financial Group, Inc.  | 18000 | &nbsp;&nbsp;&nbsp; 503882 |
| Toronto-Dominion Bank | 5226 | &nbsp;&nbsp;&nbsp; 417870 |
| Truist Financial Corp.  | 6063 | &nbsp;&nbsp;&nbsp; 277200 |
| U.S. Bancorp | 15475 | &nbsp;&nbsp;&nbsp; 747907 |
| UniCredit SpA | 6755 | &nbsp;&nbsp;&nbsp; 512865 |
| United Overseas Bank Ltd.  | 4700 | &nbsp;&nbsp;&nbsp; 126087 |
| Wells Fargo & Co.  | 12048 | &nbsp;&nbsp;&nbsp; 1009863 |
| Westpac Banking Corp.  | 8704 | &nbsp;&nbsp;&nbsp; 223936 |
|  |  | &nbsp;&nbsp;&nbsp; 21995876 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| Anheuser-Busch InBev SA | 2159 | &nbsp;&nbsp;&nbsp; 129099 |

---

**BHFTI-283**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Beverages—(Continued)** | **Beverages—(Continued)** | **Beverages—(Continued)** |
| Asahi Group Holdings Ltd.  | 3600 | &nbsp;&nbsp;&nbsp; $43194 |
| Carlsberg AS - Class B | 374 | &nbsp;&nbsp;&nbsp; 43480 |
| Coca-Cola Co.  | 27767 | &nbsp;&nbsp;&nbsp; 1841507 |
| Diageo PLC | 6311 | &nbsp;&nbsp;&nbsp; 150238 |
| Keurig Dr. Pepper, Inc.  | 4345 | &nbsp;&nbsp;&nbsp; 110841 |
| Kirin Holdings Co. Ltd.  | 4100 | &nbsp;&nbsp;&nbsp; 60119 |
| Monster Beverage Corp. (a) | 8496 | &nbsp;&nbsp;&nbsp; 571866 |
| PepsiCo, Inc.  | 5020 | &nbsp;&nbsp;&nbsp; 705009 |
| Pernod Ricard SA | 864 | &nbsp;&nbsp;&nbsp; 84953 |
|  |  | &nbsp;&nbsp;&nbsp; 3740306 |
| **Biotechnology — 0.7%** | **Biotechnology — 0.7%** | **Biotechnology — 0.7%** |
| AbbVie, Inc.  | 8620 | &nbsp;&nbsp;&nbsp; 1995875 |
| Alnylam Pharmaceuticals, Inc. (a) | 343 | &nbsp;&nbsp;&nbsp; 156408 |
| Amgen, Inc.  | 1766 | &nbsp;&nbsp;&nbsp; 498365 |
| Argenx SE (a) | 112 | &nbsp;&nbsp;&nbsp; 82273 |
| Biogen, Inc. (a) | 231 | &nbsp;&nbsp;&nbsp; 32358 |
| CSL Ltd.  | 1590 | &nbsp;&nbsp;&nbsp; 208882 |
| Exelixis, Inc. (a) | 3476 | &nbsp;&nbsp;&nbsp; 143559 |
| Gilead Sciences, Inc.  | 4043 | &nbsp;&nbsp;&nbsp; 448773 |
| Incyte Corp. (a) | 706 | &nbsp;&nbsp;&nbsp; 59876 |
| Regeneron Pharmaceuticals, Inc.  | 115 | &nbsp;&nbsp;&nbsp; 64661 |
| United Therapeutics Corp. (a) | 80 | &nbsp;&nbsp;&nbsp; 33537 |
| Vertex Pharmaceuticals, Inc. (a) | 959 | &nbsp;&nbsp;&nbsp; 375583 |
|  |  | &nbsp;&nbsp;&nbsp; 4100150 |
| **Broadline Retail — 2.0%** | **Broadline Retail — 2.0%** | **Broadline Retail — 2.0%** |
| Amazon.com, Inc. (a) | 45164 | &nbsp;&nbsp;&nbsp; 9916660 |
| Dollarama, Inc.  | 2489 | &nbsp;&nbsp;&nbsp; 328254 |
| eBay, Inc.  | 1180 | &nbsp;&nbsp;&nbsp; 107321 |
| MercadoLibre, Inc. (a) | 244 | &nbsp;&nbsp;&nbsp; 570213 |
| Next PLC | 433 | &nbsp;&nbsp;&nbsp; 72127 |
| Prosus NV | 7093 | &nbsp;&nbsp;&nbsp; 503027 |
| Ryohin Keikaku Co. Ltd.  | 1000 | &nbsp;&nbsp;&nbsp; 19911 |
| Sea Ltd. (ADR) (a) | 2006 | &nbsp;&nbsp;&nbsp; 358533 |
| Wesfarmers Ltd.  | 3925 | &nbsp;&nbsp;&nbsp; 239454 |
|  |  | &nbsp;&nbsp;&nbsp; 12115500 |
| **Building Products — 0.3%** | **Building Products — 0.3%** | **Building Products — 0.3%** |
| Allegion PLC | 1039 | &nbsp;&nbsp;&nbsp; 184267 |
| Armstrong World Industries, Inc.  | 752 | &nbsp;&nbsp;&nbsp; 147400 |
| Assa Abloy AB - Class B | 4495 | &nbsp;&nbsp;&nbsp; 157717 |
| Builders FirstSource, Inc. (a) | 314 | &nbsp;&nbsp;&nbsp; 38072 |
| Carrier Global Corp.  | 3847 | &nbsp;&nbsp;&nbsp; 229666 |
| Cie de Saint-Gobain SA | 3332 | &nbsp;&nbsp;&nbsp; 362990 |
| Daikin Industries Ltd.  | 500 | &nbsp;&nbsp;&nbsp; 57526 |
| Johnson Controls International PLC | 784 | &nbsp;&nbsp;&nbsp; 86201 |
| Sanwa Holdings Corp.  | 2200 | &nbsp;&nbsp;&nbsp; 63040 |
| Trane Technologies PLC | 1145 | &nbsp;&nbsp;&nbsp; 483144 |
|  |  | &nbsp;&nbsp;&nbsp; 1810023 |
| **Capital Markets — 2.0%** | **Capital Markets — 2.0%** | **Capital Markets — 2.0%** |
| 3i Group PLC | 1083 | &nbsp;&nbsp;&nbsp; 59713 |
| Ameriprise Financial, Inc.  | 599 | &nbsp;&nbsp;&nbsp; 294259 |
| Bank of New York Mellon Corp.  | 4665 | &nbsp;&nbsp;&nbsp; 508298 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Capital Markets—(Continued)** | **Capital Markets—(Continued)** | **Capital Markets—(Continued)** |
| Blackrock, Inc.  | 1215 | &nbsp;&nbsp;&nbsp; $1416532 |
| Blackstone, Inc.  | 2747 | &nbsp;&nbsp;&nbsp; 469325 |
| Brookfield Asset Management Ltd. - Class A | 1581 | &nbsp;&nbsp;&nbsp; 89973 |
| Brookfield Corp.  | 3139 | &nbsp;&nbsp;&nbsp; 215379 |
| Charles Schwab Corp.  | 6131 | &nbsp;&nbsp;&nbsp; 585327 |
| CME Group, Inc.  | 592 | &nbsp;&nbsp;&nbsp; 159952 |
| Coinbase Global, Inc. - Class A (a) | 873 | &nbsp;&nbsp;&nbsp; 294629 |
| Deutsche Bank AG | 3791 | &nbsp;&nbsp;&nbsp; 133335 |
| Deutsche Boerse AG | 777 | &nbsp;&nbsp;&nbsp; 208230 |
| Euronext NV | 597 | &nbsp;&nbsp;&nbsp; 89228 |
| FactSet Research Systems, Inc.  | 118 | &nbsp;&nbsp;&nbsp; 33806 |
| Futu Holdings Ltd. (ADR) | 446 | &nbsp;&nbsp;&nbsp; 77564 |
| Goldman Sachs Group, Inc.  | 1153 | &nbsp;&nbsp;&nbsp; 918192 |
| Hong Kong Exchanges & Clearing Ltd.  | 5200 | &nbsp;&nbsp;&nbsp; 295555 |
| Intercontinental Exchange, Inc.  | 3250 | &nbsp;&nbsp;&nbsp; 547560 |
| KKR & Co., Inc.  | 1184 | &nbsp;&nbsp;&nbsp; 153861 |
| London Stock Exchange Group PLC | 1662 | &nbsp;&nbsp;&nbsp; 190851 |
| Macquarie Group Ltd.  | 1266 | &nbsp;&nbsp;&nbsp; 184130 |
| Moody's Corp.  | 2053 | &nbsp;&nbsp;&nbsp; 978213 |
| Morgan Stanley | 10049 | &nbsp;&nbsp;&nbsp; 1597389 |
| MSCI, Inc.  | 362 | &nbsp;&nbsp;&nbsp; 205402 |
| Nomura Holdings, Inc.  | 15100 | &nbsp;&nbsp;&nbsp; 110572 |
| Robinhood Markets, Inc. - Class A (a) | 2835 | &nbsp;&nbsp;&nbsp; 405915 |
| S&P Global, Inc.  | 2209 | &nbsp;&nbsp;&nbsp; 1075142 |
| SBI Holdings, Inc.  | 1600 | &nbsp;&nbsp;&nbsp; 69465 |
| State Street Corp.  | 930 | &nbsp;&nbsp;&nbsp; 107889 |
| Stifel Financial Corp.  | 398 | &nbsp;&nbsp;&nbsp; 45161 |
| Swissquote Group Holding SA | 66 | &nbsp;&nbsp;&nbsp; 46347 |
| UBS Group AG | 13104 | &nbsp;&nbsp;&nbsp; 538687 |
|  |  | &nbsp;&nbsp;&nbsp; 12105881 |
| **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** |
| Air Liquide SA | 2399 | &nbsp;&nbsp;&nbsp; 499259 |
| Air Products & Chemicals, Inc. (b) | 355 | &nbsp;&nbsp;&nbsp; 96816 |
| BASF SE | 1872 | &nbsp;&nbsp;&nbsp; 93308 |
| Corteva, Inc.  | 3753 | &nbsp;&nbsp;&nbsp; 253815 |
| Dow, Inc. (b) | 2721 | &nbsp;&nbsp;&nbsp; 62392 |
| DuPont de Nemours, Inc.  | 1177 | &nbsp;&nbsp;&nbsp; 91688 |
| Ecolab, Inc.  | 2986 | &nbsp;&nbsp;&nbsp; 817746 |
| Givaudan SA | 22 | &nbsp;&nbsp;&nbsp; 89680 |
| International Flavors & Fragrances, Inc.  | 603 | &nbsp;&nbsp;&nbsp; 37109 |
| Linde PLC | 1969 | &nbsp;&nbsp;&nbsp; 935275 |
| Novonesis (Novozymes) - B Shares (b) | 1304 | &nbsp;&nbsp;&nbsp; 79930 |
| RPM International, Inc.  | 720 | &nbsp;&nbsp;&nbsp; 84874 |
| Sherwin-Williams Co.  | 2482 | &nbsp;&nbsp;&nbsp; 859417 |
| Shin-Etsu Chemical Co. Ltd.  | 5700 | &nbsp;&nbsp;&nbsp; 186519 |
| Sika AG | 340 | &nbsp;&nbsp;&nbsp; 76196 |
| Symrise AG | 468 | &nbsp;&nbsp;&nbsp; 40784 |
| Toray Industries, Inc.  | 13200 | &nbsp;&nbsp;&nbsp; 84219 |
|  |  | &nbsp;&nbsp;&nbsp; 4389027 |
| **Commercial Services & Supplies — 0.5%** | **Commercial Services & Supplies — 0.5%** | **Commercial Services & Supplies — 0.5%** |
| Brambles Ltd.  | 7133 | &nbsp;&nbsp;&nbsp; 117619 |
| Cintas Corp.  | 4475 | &nbsp;&nbsp;&nbsp; 918539 |
| Copart, Inc. (a) | 2601 | &nbsp;&nbsp;&nbsp; 116967 |
| Japan Elevator Service Holdings Co. Ltd.  | 10000 | &nbsp;&nbsp;&nbsp; 126838 |

---

**BHFTI-284**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Commercial Services & Supplies—(Continued)** | **Commercial Services & Supplies—(Continued)** | **Commercial Services & Supplies—(Continued)** |
| Republic Services, Inc.  | 1748 | &nbsp;&nbsp;&nbsp; $401131 |
| Rollins, Inc.  | 4633 | &nbsp;&nbsp;&nbsp; 272142 |
| Veralto Corp.  | 904 | &nbsp;&nbsp;&nbsp; 96376 |
| Waste Connections, Inc.  | 3227 | &nbsp;&nbsp;&nbsp; 567305 |
| Waste Management, Inc.  | 2420 | &nbsp;&nbsp;&nbsp; 534409 |
|  |  | &nbsp;&nbsp;&nbsp; 3151326 |
| **Communications Equipment — 0.7%** | **Communications Equipment — 0.7%** | **Communications Equipment — 0.7%** |
| Accton Technology Corp.  | 2000 | &nbsp;&nbsp;&nbsp; 69243 |
| Arista Networks, Inc. (a) | 13473 | &nbsp;&nbsp;&nbsp; 1963151 |
| Cisco Systems, Inc.  | 17597 | &nbsp;&nbsp;&nbsp; 1203987 |
| Motorola Solutions, Inc.  | 1536 | &nbsp;&nbsp;&nbsp; 702397 |
| Nokia OYJ | 12696 | &nbsp;&nbsp;&nbsp; 60835 |
| Telefonaktiebolaget LM Ericsson - B Shares | 11673 | &nbsp;&nbsp;&nbsp; 96827 |
|  |  | &nbsp;&nbsp;&nbsp; 4096440 |
| **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** |
| ACS Actividades de Construccion y Servicios SA | 1608 | &nbsp;&nbsp;&nbsp; 128614 |
| Eiffage SA | 677 | &nbsp;&nbsp;&nbsp; 87073 |
| EMCOR Group, Inc.  | 289 | &nbsp;&nbsp;&nbsp; 187717 |
| HOCHTIEF AG | 977 | &nbsp;&nbsp;&nbsp; 261733 |
| MasTec, Inc. (a) | 433 | &nbsp;&nbsp;&nbsp; 92147 |
| Obayashi Corp.  | 6100 | &nbsp;&nbsp;&nbsp; 100092 |
| Quanta Services, Inc.  | 659 | &nbsp;&nbsp;&nbsp; 273103 |
| Stantec, Inc.  | 1234 | &nbsp;&nbsp;&nbsp; 133083 |
| Taisei Corp.  | 1600 | &nbsp;&nbsp;&nbsp; 109890 |
| Vinci SA | 2907 | &nbsp;&nbsp;&nbsp; 404767 |
|  |  | &nbsp;&nbsp;&nbsp; 1778219 |
| **Construction Materials — 0.2%** | **Construction Materials — 0.2%** | **Construction Materials — 0.2%** |
| Amrize Ltd. (a) | 2617 | &nbsp;&nbsp;&nbsp; 126821 |
| CRH PLC | 4684 | &nbsp;&nbsp;&nbsp; 561612 |
| Heidelberg Materials AG | 1047 | &nbsp;&nbsp;&nbsp; 235711 |
| Holcim AG | 3378 | &nbsp;&nbsp;&nbsp; 287492 |
| James Hardie Industries PLC (a) | 1178 | &nbsp;&nbsp;&nbsp; 21919 |
| Martin Marietta Materials, Inc.  | 73 | &nbsp;&nbsp;&nbsp; 46010 |
| Vulcan Materials Co.  | 490 | &nbsp;&nbsp;&nbsp; 150734 |
|  |  | &nbsp;&nbsp;&nbsp; 1430299 |
| **Consumer Finance — 0.4%** | **Consumer Finance — 0.4%** | **Consumer Finance — 0.4%** |
| American Express Co.  | 5312 | &nbsp;&nbsp;&nbsp; 1764434 |
| Capital One Financial Corp.  | 2761 | &nbsp;&nbsp;&nbsp; 586933 |
| SoFi Technologies, Inc. (a) | 1749 | &nbsp;&nbsp;&nbsp; 46209 |
| Synchrony Financial | 942 | &nbsp;&nbsp;&nbsp; 66929 |
|  |  | &nbsp;&nbsp;&nbsp; 2464505 |
| **Consumer Staples Distribution & Retail — 1.0%** | **Consumer Staples Distribution & Retail — 1.0%** | **Consumer Staples Distribution & Retail — 1.0%** |
| Aeon Co. Ltd.  | 1300 | &nbsp;&nbsp;&nbsp; 15785 |
| Carrefour SA | 3035 | &nbsp;&nbsp;&nbsp; 45954 |
| Coles Group Ltd.  | 3066 | &nbsp;&nbsp;&nbsp; 47345 |
| Costco Wholesale Corp.  | 2216 | &nbsp;&nbsp;&nbsp; 2051196 |
| Dollar General Corp.  | 3551 | &nbsp;&nbsp;&nbsp; 366996 |
| Dollar Tree, Inc. (a) (b) | 366 | &nbsp;&nbsp;&nbsp; 34540 |
| Kesko OYJ - B Shares | 1468 | &nbsp;&nbsp;&nbsp; 31249 |
| Koninklijke Ahold Delhaize NV | 12324 | &nbsp;&nbsp;&nbsp; 498581 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Consumer Staples Distribution & Retail—(Continued)** | **Consumer Staples Distribution & Retail—(Continued)** | **Consumer Staples Distribution & Retail—(Continued)** |
| Kroger Co.  | 4473 | &nbsp;&nbsp;&nbsp; $301525 |
| Loblaw Cos. Ltd.  | 8863 | &nbsp;&nbsp;&nbsp; 342815 |
| Metro, Inc.  | 2203 | &nbsp;&nbsp;&nbsp; 147959 |
| Seven & i Holdings Co. Ltd.  | 6400 | &nbsp;&nbsp;&nbsp; 86075 |
| Sysco Corp.  | 1416 | &nbsp;&nbsp;&nbsp; 116594 |
| Target Corp.  | 869 | &nbsp;&nbsp;&nbsp; 77949 |
| Tesco PLC | 9923 | &nbsp;&nbsp;&nbsp; 59481 |
| Walmart, Inc.  | 15766 | &nbsp;&nbsp;&nbsp; 1624844 |
| Woolworths Group Ltd.  | 3953 | &nbsp;&nbsp;&nbsp; 69828 |
|  |  | &nbsp;&nbsp;&nbsp; 5918716 |
| **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** |
| International Paper Co. (b) | 3225 | &nbsp;&nbsp;&nbsp; 149640 |
| Packaging Corp. of America | 368 | &nbsp;&nbsp;&nbsp; 80198 |
| Smurfit WestRock PLC (b) | 968 | &nbsp;&nbsp;&nbsp; 41208 |
|  |  | &nbsp;&nbsp;&nbsp; 271046 |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| Frontdoor, Inc. (a) | 716 | &nbsp;&nbsp;&nbsp; 48180 |
| **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** |
| CapitaLand Integrated Commercial Trust | 93000 | &nbsp;&nbsp;&nbsp; 165111 |
| WP Carey, Inc.  | 680 | &nbsp;&nbsp;&nbsp; 45948 |
|  |  | &nbsp;&nbsp;&nbsp; 211059 |
| **Diversified Telecommunication Services — 0.6%** | **Diversified Telecommunication Services — 0.6%** | **Diversified Telecommunication Services — 0.6%** |
| AT&T, Inc.  | 30422 | &nbsp;&nbsp;&nbsp; 859117 |
| Cellnex Telecom SA (a) | 1327 | &nbsp;&nbsp;&nbsp; 46011 |
| Deutsche Telekom AG | 20482 | &nbsp;&nbsp;&nbsp; 697833 |
| Koninklijke KPN NV | 98535 | &nbsp;&nbsp;&nbsp; 473114 |
| NTT, Inc.  | 118700 | &nbsp;&nbsp;&nbsp; 124123 |
| Orange SA | 2771 | &nbsp;&nbsp;&nbsp; 44954 |
| Singapore Telecommunications Ltd.  | 100200 | &nbsp;&nbsp;&nbsp; 320558 |
| Telenor ASA | 2721 | &nbsp;&nbsp;&nbsp; 45153 |
| Telstra Group Ltd.  | 71624 | &nbsp;&nbsp;&nbsp; 228595 |
| Verizon Communications, Inc.  | 17953 | &nbsp;&nbsp;&nbsp; 789034 |
|  |  | &nbsp;&nbsp;&nbsp; 3628492 |
| **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** |
| American Electric Power Co., Inc.  | 609 | &nbsp;&nbsp;&nbsp; 68512 |
| Constellation Energy Corp.  | 1167 | &nbsp;&nbsp;&nbsp; 384025 |
| Duke Energy Corp.  | 2176 | &nbsp;&nbsp;&nbsp; 269280 |
| Edison International | 1042 | &nbsp;&nbsp;&nbsp; 57602 |
| Endesa SA | 3541 | &nbsp;&nbsp;&nbsp; 113149 |
| Enel SpA | 15574 | &nbsp;&nbsp;&nbsp; 147711 |
| Entergy Corp.  | 500 | &nbsp;&nbsp;&nbsp; 46595 |
| Eversource Energy | 1641 | &nbsp;&nbsp;&nbsp; 116741 |
| Exelon Corp. (b) | 6047 | &nbsp;&nbsp;&nbsp; 272175 |
| Hydro One Ltd.  | 8414 | &nbsp;&nbsp;&nbsp; 300176 |
| Iberdrola SA (b) | 38243 | &nbsp;&nbsp;&nbsp; 724639 |
| Kansai Electric Power Co., Inc.  | 3300 | &nbsp;&nbsp;&nbsp; 47267 |
| NextEra Energy, Inc.  | 16107 | &nbsp;&nbsp;&nbsp; 1215917 |
| NRG Energy, Inc.  | 1153 | &nbsp;&nbsp;&nbsp; 186728 |
| PG&E Corp.  | 2977 | &nbsp;&nbsp;&nbsp; 44893 |
| Redeia Corp. SA | 4371 | &nbsp;&nbsp;&nbsp; 84462 |
| Southern Co. (b) | 4928 | &nbsp;&nbsp;&nbsp; 467027 |

---

**BHFTI-285**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Electric Utilities—(Continued)** | **Electric Utilities—(Continued)** | **Electric Utilities—(Continued)** |
| SSE PLC | 1862 | &nbsp;&nbsp;&nbsp; $43636 |
| Terna - Rete Elettrica Nazionale | 30524 | &nbsp;&nbsp;&nbsp; 310076 |
| Xcel Energy, Inc. (b) | 618 | &nbsp;&nbsp;&nbsp; 49842 |
|  |  | &nbsp;&nbsp;&nbsp; 4950453 |
| **Electrical Equipment — 1.3%** | **Electrical Equipment — 1.3%** | **Electrical Equipment — 1.3%** |
| ABB Ltd.  | 10701 | &nbsp;&nbsp;&nbsp; 771261 |
| Acuity, Inc.  | 248 | &nbsp;&nbsp;&nbsp; 85409 |
| Eaton Corp. PLC | 1859 | &nbsp;&nbsp;&nbsp; 695731 |
| Emerson Electric Co.  | 5647 | &nbsp;&nbsp;&nbsp; 740773 |
| Fujikura Ltd.  | 3800 | &nbsp;&nbsp;&nbsp; 369447 |
| Furukawa Electric Co. Ltd.  | 1200 | &nbsp;&nbsp;&nbsp; 73589 |
| GE Vernova, Inc.  | 2936 | &nbsp;&nbsp;&nbsp; 1805346 |
| HD Hyundai Electric Co. Ltd.  | 656 | &nbsp;&nbsp;&nbsp; 273624 |
| Legrand SA | 1102 | &nbsp;&nbsp;&nbsp; 183826 |
| Mitsubishi Electric Corp.  | 1800 | &nbsp;&nbsp;&nbsp; 46860 |
| Nexans SA | 467 | &nbsp;&nbsp;&nbsp; 69709 |
| NIDEC Corp.  | 3100 | &nbsp;&nbsp;&nbsp; 55058 |
| nVent Electric PLC | 805 | &nbsp;&nbsp;&nbsp; 79405 |
| Prysmian SpA | 1514 | &nbsp;&nbsp;&nbsp; 151224 |
| Rockwell Automation, Inc.  | 427 | &nbsp;&nbsp;&nbsp; 149249 |
| Schneider Electric SE | 2671 | &nbsp;&nbsp;&nbsp; 754038 |
| Siemens Energy AG (a) | 2974 | &nbsp;&nbsp;&nbsp; 347744 |
| Vertiv Holdings Co. - Class A | 5629 | &nbsp;&nbsp;&nbsp; 849191 |
| Vestas Wind Systems AS | 3305 | &nbsp;&nbsp;&nbsp; 64143 |
|  |  | &nbsp;&nbsp;&nbsp; 7565627 |
| **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** |
| Amphenol Corp. - Class A | 7731 | &nbsp;&nbsp;&nbsp; 956711 |
| CDW Corp.  | 579 | &nbsp;&nbsp;&nbsp; 92223 |
| Celestica, Inc. (a) | 791 | &nbsp;&nbsp;&nbsp; 194650 |
| Coherent Corp. (a) | 418 | &nbsp;&nbsp;&nbsp; 45027 |
| Corning, Inc.  | 5368 | &nbsp;&nbsp;&nbsp; 440337 |
| Delta Electronics, Inc.  | 3000 | &nbsp;&nbsp;&nbsp; 84095 |
| Jabil, Inc.  | 715 | &nbsp;&nbsp;&nbsp; 155277 |
| Keyence Corp.  | 800 | &nbsp;&nbsp;&nbsp; 297865 |
| Keysight Technologies, Inc. (a) | 545 | &nbsp;&nbsp;&nbsp; 95332 |
| Murata Manufacturing Co. Ltd.  | 4500 | &nbsp;&nbsp;&nbsp; 85398 |
| TE Connectivity PLC | 3981 | &nbsp;&nbsp;&nbsp; 873949 |
| Yokogawa Electric Corp.  | 4400 | &nbsp;&nbsp;&nbsp; 126290 |
| Zebra Technologies Corp. - Class A (a) | 183 | &nbsp;&nbsp;&nbsp; 54380 |
|  |  | &nbsp;&nbsp;&nbsp; 3501534 |
| **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** |
| Baker Hughes Co.  | 4259 | &nbsp;&nbsp;&nbsp; 207498 |
| Schlumberger NV | 2524 | &nbsp;&nbsp;&nbsp; 86750 |
|  |  | &nbsp;&nbsp;&nbsp; 294248 |
| **Entertainment — 1.2%** | **Entertainment — 1.2%** | **Entertainment — 1.2%** |
| Capcom Co. Ltd.  | 2900 | &nbsp;&nbsp;&nbsp; 78940 |
| Electronic Arts, Inc.  | 547 | &nbsp;&nbsp;&nbsp; 110330 |
| Liberty Media Corp.-Liberty Formula One - Class C (a) | 4484 | &nbsp;&nbsp;&nbsp; 468354 |
| Live Nation Entertainment, Inc. (a) (b) | 3090 | &nbsp;&nbsp;&nbsp; 504906 |
| Netflix, Inc. (a) | 2759 | &nbsp;&nbsp;&nbsp; 3307820 |
| Nintendo Co. Ltd.  | 4600 | &nbsp;&nbsp;&nbsp; 394065 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Entertainment—(Continued)** | **Entertainment—(Continued)** | **Entertainment—(Continued)** |
| ROBLOX Corp. - Class A (a) | 547 | &nbsp;&nbsp;&nbsp; $75771 |
| Spotify Technology SA (a) | 844 | &nbsp;&nbsp;&nbsp; 589112 |
| Take-Two Interactive Software, Inc. (a) | 487 | &nbsp;&nbsp;&nbsp; 125821 |
| Tencent Music Entertainment Group (ADR) | 3462 | &nbsp;&nbsp;&nbsp; 80803 |
| Walt Disney Co.  | 10388 | &nbsp;&nbsp;&nbsp; 1189426 |
| Warner Bros Discovery, Inc. (a) (b) | 8403 | &nbsp;&nbsp;&nbsp; 164111 |
|  |  | &nbsp;&nbsp;&nbsp; 7089459 |
| **Financial Services — 1.7%** | **Financial Services — 1.7%** | **Financial Services — 1.7%** |
| Adyen NV (a) | 82 | &nbsp;&nbsp;&nbsp; 131598 |
| Affirm Holdings, Inc. (a) | 575 | &nbsp;&nbsp;&nbsp; 42021 |
| Apollo Global Management, Inc. (b) | 1006 | &nbsp;&nbsp;&nbsp; 134070 |
| Berkshire Hathaway, Inc. - Class B (a) | 6351 | &nbsp;&nbsp;&nbsp; 3192902 |
| Block, Inc. (a) | 1905 | &nbsp;&nbsp;&nbsp; 137674 |
| Fidelity National Information Services, Inc.  | 1093 | &nbsp;&nbsp;&nbsp; 72072 |
| Fiserv, Inc. (a) | 2364 | &nbsp;&nbsp;&nbsp; 304790 |
| Global Payments, Inc.  | 879 | &nbsp;&nbsp;&nbsp; 73027 |
| Investor AB - B Shares | 2758 | &nbsp;&nbsp;&nbsp; 86634 |
| Mastercard, Inc. - Class A | 3813 | &nbsp;&nbsp;&nbsp; 2168873 |
| ORIX Corp.  | 1800 | &nbsp;&nbsp;&nbsp; 47004 |
| PayPal Holdings, Inc. (a) | 3426 | &nbsp;&nbsp;&nbsp; 229748 |
| Toast, Inc. - Class A (a) | 1606 | &nbsp;&nbsp;&nbsp; 58635 |
| Visa, Inc. - Class A | 10657 | &nbsp;&nbsp;&nbsp; 3638087 |
|  |  | &nbsp;&nbsp;&nbsp; 10317135 |
| **Food Products — 0.3%** | **Food Products — 0.3%** | **Food Products — 0.3%** |
| Ajinomoto Co., Inc.  | 7100 | &nbsp;&nbsp;&nbsp; 203684 |
| Archer-Daniels-Midland Co. (b) | 1677 | &nbsp;&nbsp;&nbsp; 100184 |
| Danone SA | 1817 | &nbsp;&nbsp;&nbsp; 158305 |
| General Mills, Inc. (b) | 1566 | &nbsp;&nbsp;&nbsp; 78958 |
| Kellanova | 805 | &nbsp;&nbsp;&nbsp; 66026 |
| Mondelez International, Inc. - Class A (b) | 5869 | &nbsp;&nbsp;&nbsp; 366636 |
| Nestle SA (b) | 8331 | &nbsp;&nbsp;&nbsp; 765271 |
|  |  | &nbsp;&nbsp;&nbsp; 1739064 |
| **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** |
| Atmos Energy Corp.  | 1486 | &nbsp;&nbsp;&nbsp; 253735 |
| Hong Kong & China Gas Co. Ltd.  | 52857 | &nbsp;&nbsp;&nbsp; 45946 |
| Italgas SpA | 42974 | &nbsp;&nbsp;&nbsp; 395414 |
|  |  | &nbsp;&nbsp;&nbsp; 695095 |
| **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** |
| Canadian National Railway Co.  | 998 | &nbsp;&nbsp;&nbsp; 94113 |
| Canadian Pacific Kansas City Ltd.  | 2779 | &nbsp;&nbsp;&nbsp; 206972 |
| Central Japan Railway Co.  | 1800 | &nbsp;&nbsp;&nbsp; 51674 |
| CSX Corp.  | 5041 | &nbsp;&nbsp;&nbsp; 179006 |
| East Japan Railway Co.  | 1900 | &nbsp;&nbsp;&nbsp; 46559 |
| Norfolk Southern Corp.  | 468 | &nbsp;&nbsp;&nbsp; 140592 |
| Old Dominion Freight Line, Inc.  | 576 | &nbsp;&nbsp;&nbsp; 81089 |
| TFI International, Inc.  | 132 | &nbsp;&nbsp;&nbsp; 11617 |
| Uber Technologies, Inc. (a) | 13304 | &nbsp;&nbsp;&nbsp; 1303393 |
| Union Pacific Corp.  | 2306 | &nbsp;&nbsp;&nbsp; 545069 |
| West Japan Railway Co.  | 2000 | &nbsp;&nbsp;&nbsp; 43844 |
|  |  | &nbsp;&nbsp;&nbsp; 2703928 |

---

**BHFTI-286**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** |
| Abbott Laboratories | 6644 | &nbsp;&nbsp;&nbsp; $889897 |
| Align Technology, Inc. (a) | 166 | &nbsp;&nbsp;&nbsp; 20786 |
| Baxter International, Inc.  | 1354 | &nbsp;&nbsp;&nbsp; 30831 |
| Becton Dickinson & Co.  | 669 | &nbsp;&nbsp;&nbsp; 125217 |
| Boston Scientific Corp. (a) | 16219 | &nbsp;&nbsp;&nbsp; 1583461 |
| Cochlear Ltd.  | 229 | &nbsp;&nbsp;&nbsp; 42363 |
| Dexcom, Inc. (a) | 1112 | &nbsp;&nbsp;&nbsp; 74826 |
| Edwards Lifesciences Corp. (a) | 2288 | &nbsp;&nbsp;&nbsp; 177938 |
| EssilorLuxottica SA | 1345 | &nbsp;&nbsp;&nbsp; 438707 |
| GE HealthCare Technologies, Inc.  | 966 | &nbsp;&nbsp;&nbsp; 72547 |
| Hoya Corp.  | 1800 | &nbsp;&nbsp;&nbsp; 248653 |
| IDEXX Laboratories, Inc. (a) | 1136 | &nbsp;&nbsp;&nbsp; 725779 |
| Intuitive Surgical, Inc. (a) | 1841 | &nbsp;&nbsp;&nbsp; 823350 |
| Koninklijke Philips NV | 2434 | &nbsp;&nbsp;&nbsp; 66632 |
| Medtronic PLC | 6259 | &nbsp;&nbsp;&nbsp; 596107 |
| Olympus Corp.  | 2300 | &nbsp;&nbsp;&nbsp; 29140 |
| ResMed, Inc.  | 914 | &nbsp;&nbsp;&nbsp; 250189 |
| Siemens Healthineers AG | 814 | &nbsp;&nbsp;&nbsp; 44037 |
| Solventum Corp. (a) | 273 | &nbsp;&nbsp;&nbsp; 19929 |
| Stryker Corp.  | 3064 | &nbsp;&nbsp;&nbsp; 1132669 |
| Sysmex Corp.  | 3000 | &nbsp;&nbsp;&nbsp; 37202 |
| Zimmer Biomet Holdings, Inc.  | 880 | &nbsp;&nbsp;&nbsp; 86680 |
|  |  | &nbsp;&nbsp;&nbsp; 7516940 |
| **Health Care Providers & Services — 0.9%** | **Health Care Providers & Services — 0.9%** | **Health Care Providers & Services — 0.9%** |
| Cardinal Health, Inc.  | 2713 | &nbsp;&nbsp;&nbsp; 425832 |
| Cencora, Inc. (b) | 1500 | &nbsp;&nbsp;&nbsp; 468795 |
| Centene Corp. (a) | 1568 | &nbsp;&nbsp;&nbsp; 55946 |
| Cigna Group | 1170 | &nbsp;&nbsp;&nbsp; 337253 |
| CVS Health Corp.  | 4606 | &nbsp;&nbsp;&nbsp; 347246 |
| Elevance Health, Inc.  | 853 | &nbsp;&nbsp;&nbsp; 275621 |
| Fresenius Medical Care AG | 881 | &nbsp;&nbsp;&nbsp; 46228 |
| HCA Healthcare, Inc. (b) | 1799 | &nbsp;&nbsp;&nbsp; 766734 |
| Hims & Hers Health, Inc. (a) (b) | 1405 | &nbsp;&nbsp;&nbsp; 79692 |
| Humana, Inc.  | 642 | &nbsp;&nbsp;&nbsp; 167029 |
| McKesson Corp.  | 801 | &nbsp;&nbsp;&nbsp; 618805 |
| Quest Diagnostics, Inc.  | 1645 | &nbsp;&nbsp;&nbsp; 313504 |
| UnitedHealth Group, Inc.  | 4804 | &nbsp;&nbsp;&nbsp; 1658821 |
|  |  | &nbsp;&nbsp;&nbsp; 5561506 |
| **Health Care REITs — 0.3%** | **Health Care REITs — 0.3%** | **Health Care REITs — 0.3%** |
| CareTrust REIT, Inc.  | 4243 | &nbsp;&nbsp;&nbsp; 147147 |
| Omega Healthcare Investors, Inc.  | 6223 | &nbsp;&nbsp;&nbsp; 262735 |
| Sabra Health Care REIT, Inc. (b) | 8173 | &nbsp;&nbsp;&nbsp; 152345 |
| Ventas, Inc.  | 8156 | &nbsp;&nbsp;&nbsp; 570838 |
| Welltower, Inc.  | 4840 | &nbsp;&nbsp;&nbsp; 862198 |
|  |  | &nbsp;&nbsp;&nbsp; 1995263 |
| **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** |
| Veeva Systems, Inc. - Class A (a) (b) | 2110 | &nbsp;&nbsp;&nbsp; 628590 |
| **Hotels, Restaurants & Leisure — 0.9%** | **Hotels, Restaurants & Leisure — 0.9%** | **Hotels, Restaurants & Leisure — 0.9%** |
| Accor SA | 893 | &nbsp;&nbsp;&nbsp; 42306 |
| Airbnb, Inc. - Class A (a) | 651 | &nbsp;&nbsp;&nbsp; 79044 |
| Amadeus IT Group SA | 1360 | &nbsp;&nbsp;&nbsp; 107640 |
| Aristocrat Leisure Ltd.  | 2315 | &nbsp;&nbsp;&nbsp; 107517 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** | **Hotels, Restaurants & Leisure—(Continued)** |
| Booking Holdings, Inc.  | 311 | &nbsp;&nbsp;&nbsp; $1679173 |
| Carnival Corp. (a) | 1406 | &nbsp;&nbsp;&nbsp; 40647 |
| Chipotle Mexican Grill, Inc. (a) | 4959 | &nbsp;&nbsp;&nbsp; 194343 |
| Compass Group PLC | 2891 | &nbsp;&nbsp;&nbsp; 98495 |
| Delivery Hero SE (a) | 1027 | &nbsp;&nbsp;&nbsp; 29505 |
| DoorDash, Inc. - Class A (a) | 371 | &nbsp;&nbsp;&nbsp; 100908 |
| Evolution AB | 551 | &nbsp;&nbsp;&nbsp; 45223 |
| Expedia Group, Inc.  | 210 | &nbsp;&nbsp;&nbsp; 44888 |
| Flutter Entertainment PLC (a) | 370 | &nbsp;&nbsp;&nbsp; 96272 |
| Galaxy Entertainment Group Ltd.  | 9000 | &nbsp;&nbsp;&nbsp; 49656 |
| Hilton Worldwide Holdings, Inc.  | 961 | &nbsp;&nbsp;&nbsp; 249322 |
| InterContinental Hotels Group PLC | 865 | &nbsp;&nbsp;&nbsp; 104838 |
| Las Vegas Sands Corp.  | 1351 | &nbsp;&nbsp;&nbsp; 72670 |
| McDonald's Corp.  | 2701 | &nbsp;&nbsp;&nbsp; 820807 |
| Oriental Land Co. Ltd. (b) | 3900 | &nbsp;&nbsp;&nbsp; 93742 |
| Royal Caribbean Cruises Ltd.  | 1366 | &nbsp;&nbsp;&nbsp; 442010 |
| Starbucks Corp. (b) | 3775 | &nbsp;&nbsp;&nbsp; 319365 |
| Texas Roadhouse, Inc.  | 1932 | &nbsp;&nbsp;&nbsp; 321002 |
| Yum! Brands, Inc.  | 710 | &nbsp;&nbsp;&nbsp; 107920 |
|  |  | &nbsp;&nbsp;&nbsp; 5247293 |
| **Household Durables — 0.3%** | **Household Durables — 0.3%** | **Household Durables — 0.3%** |
| DR Horton, Inc. (b) | 1426 | &nbsp;&nbsp;&nbsp; 241664 |
| Garmin Ltd.  | 791 | &nbsp;&nbsp;&nbsp; 194760 |
| Lennar Corp. - Class A (b) | 876 | &nbsp;&nbsp;&nbsp; 110411 |
| NVR, Inc. (a) (b) | 47 | &nbsp;&nbsp;&nbsp; 377629 |
| PulteGroup, Inc.  | 640 | &nbsp;&nbsp;&nbsp; 84563 |
| SharkNinja, Inc. (a) | 934 | &nbsp;&nbsp;&nbsp; 96342 |
| Sony Group Corp.  | 22600 | &nbsp;&nbsp;&nbsp; 648512 |
| Sumitomo Forestry Co. Ltd.  | 5400 | &nbsp;&nbsp;&nbsp; 64617 |
|  |  | &nbsp;&nbsp;&nbsp; 1818498 |
| **Household Products — 0.6%** | **Household Products — 0.6%** | **Household Products — 0.6%** |
| Church & Dwight Co., Inc.  | 485 | &nbsp;&nbsp;&nbsp; 42500 |
| Clorox Co.  | 372 | &nbsp;&nbsp;&nbsp; 45868 |
| Colgate-Palmolive Co.  | 9921 | &nbsp;&nbsp;&nbsp; 793085 |
| Essity AB - Class B | 1559 | &nbsp;&nbsp;&nbsp; 40773 |
| Kimberly-Clark Corp.  | 1856 | &nbsp;&nbsp;&nbsp; 230775 |
| Procter & Gamble Co.  | 15478 | &nbsp;&nbsp;&nbsp; 2378195 |
| Reckitt Benckiser Group PLC | 1409 | &nbsp;&nbsp;&nbsp; 108818 |
|  |  | &nbsp;&nbsp;&nbsp; 3640014 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| Meridian Energy Ltd.  | 1296 | &nbsp;&nbsp;&nbsp; 4187 |
| Orsted AS (a) | 929 | &nbsp;&nbsp;&nbsp; 16695 |
| RWE AG | 2417 | &nbsp;&nbsp;&nbsp; 107342 |
| Vistra Corp.  | 1053 | &nbsp;&nbsp;&nbsp; 206303 |
|  |  | &nbsp;&nbsp;&nbsp; 334527 |
| **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** |
| 3M Co.  | 2037 | &nbsp;&nbsp;&nbsp; 316102 |
| CK Hutchison Holdings Ltd.  | 7000 | &nbsp;&nbsp;&nbsp; 46197 |
| Hitachi Ltd. (b) | 24600 | &nbsp;&nbsp;&nbsp; 645996 |
| Honeywell International, Inc.  | 1255 | &nbsp;&nbsp;&nbsp; 264178 |
| Lifco AB - B Shares | 1253 | &nbsp;&nbsp;&nbsp; 42600 |

---

**BHFTI-287**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Industrial Conglomerates—(Continued)** | **Industrial Conglomerates—(Continued)** | **Industrial Conglomerates—(Continued)** |
| Sekisui Chemical Co. Ltd.  | 2000 | &nbsp;&nbsp;&nbsp; $37190 |
| Siemens AG | 3450 | &nbsp;&nbsp;&nbsp; 930873 |
|  |  | &nbsp;&nbsp;&nbsp; 2283136 |
| **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** |
| Goodman Group | 2026 | &nbsp;&nbsp;&nbsp; 44112 |
| Prologis, Inc.  | 3738 | &nbsp;&nbsp;&nbsp; 428076 |
|  |  | &nbsp;&nbsp;&nbsp; 472188 |
| **Insurance — 1.4%** | **Insurance — 1.4%** | **Insurance — 1.4%** |
| Aflac, Inc.  | 2051 | &nbsp;&nbsp;&nbsp; 229097 |
| AIA Group Ltd.  | 46600 | &nbsp;&nbsp;&nbsp; 446672 |
| Allianz SE | 1611 | &nbsp;&nbsp;&nbsp; 677172 |
| Allstate Corp.  | 560 | &nbsp;&nbsp;&nbsp; 120204 |
| American International Group, Inc.  | 1324 | &nbsp;&nbsp;&nbsp; 103987 |
| Aon PLC - Class A | 855 | &nbsp;&nbsp;&nbsp; 304876 |
| Arthur J Gallagher & Co.  | 288 | &nbsp;&nbsp;&nbsp; 89205 |
| ASR Nederland NV | 1487 | &nbsp;&nbsp;&nbsp; 101199 |
| Assurant, Inc. (b) | 405 | &nbsp;&nbsp;&nbsp; 87723 |
| AXA SA | 9956 | &nbsp;&nbsp;&nbsp; 476702 |
| Axis Capital Holdings Ltd.  | 701 | &nbsp;&nbsp;&nbsp; 67156 |
| Brown & Brown, Inc.  | 566 | &nbsp;&nbsp;&nbsp; 53085 |
| Chubb Ltd.  | 3498 | &nbsp;&nbsp;&nbsp; 987310 |
| Dai-ichi Life Holdings, Inc.  | 17600 | &nbsp;&nbsp;&nbsp; 138457 |
| Fairfax Financial Holdings Ltd.  | 50 | &nbsp;&nbsp;&nbsp; 87476 |
| Generali | 5112 | &nbsp;&nbsp;&nbsp; 200870 |
| Globe Life, Inc.  | 560 | &nbsp;&nbsp;&nbsp; 80063 |
| Great-West Lifeco, Inc.  | 2119 | &nbsp;&nbsp;&nbsp; 85996 |
| Hannover Rueck SE | 481 | &nbsp;&nbsp;&nbsp; 145067 |
| Hartford Insurance Group, Inc.  | 1399 | &nbsp;&nbsp;&nbsp; 186613 |
| Loews Corp.  | 958 | &nbsp;&nbsp;&nbsp; 96174 |
| Manulife Financial Corp.  | 11203 | &nbsp;&nbsp;&nbsp; 349042 |
| Markel Group, Inc. (a) | 48 | &nbsp;&nbsp;&nbsp; 91745 |
| Marsh & McLennan Cos., Inc.  | 1733 | &nbsp;&nbsp;&nbsp; 349251 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 618 | &nbsp;&nbsp;&nbsp; 394875 |
| NN Group NV | 1564 | &nbsp;&nbsp;&nbsp; 110423 |
| Poste Italiane SpA | 4330 | &nbsp;&nbsp;&nbsp; 102694 |
| Primerica, Inc.  | 141 | &nbsp;&nbsp;&nbsp; 39140 |
| Progressive Corp.  | 3761 | &nbsp;&nbsp;&nbsp; 928779 |
| Prudential Financial, Inc.  | 394 | &nbsp;&nbsp;&nbsp; 40874 |
| Prudential PLC | 4276 | &nbsp;&nbsp;&nbsp; 60191 |
| Sony Financial Group, Inc. (a) | 22600 | &nbsp;&nbsp;&nbsp; 25063 |
| Sun Life Financial, Inc.  | 1621 | &nbsp;&nbsp;&nbsp; 97339 |
| Swiss Life Holding AG | 41 | &nbsp;&nbsp;&nbsp; 44193 |
| Swiss Re AG | 891 | &nbsp;&nbsp;&nbsp; 165119 |
| T&D Holdings, Inc.  | 3800 | &nbsp;&nbsp;&nbsp; 92869 |
| Tokio Marine Holdings, Inc.  | 5300 | &nbsp;&nbsp;&nbsp; 224220 |
| Travelers Cos., Inc.  | 166 | &nbsp;&nbsp;&nbsp; 46350 |
| Tryg AS | 1704 | &nbsp;&nbsp;&nbsp; 43302 |
| W.R. Berkley Corp.  | 631 | &nbsp;&nbsp;&nbsp; 48347 |
| Willis Towers Watson PLC (b) | 326 | &nbsp;&nbsp;&nbsp; 112617 |
| Zurich Insurance Group AG | 807 | &nbsp;&nbsp;&nbsp; 576015 |
|  |  | &nbsp;&nbsp;&nbsp; 8707552 |
| **Interactive Media & Services — 3.8%** | **Interactive Media & Services — 3.8%** | **Interactive Media & Services — 3.8%** |
| Alphabet, Inc. - Class A | 31135 | &nbsp;&nbsp;&nbsp; 7568918 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Interactive Media & Services—(Continued)** | **Interactive Media & Services—(Continued)** | **Interactive Media & Services—(Continued)** |
| Alphabet, Inc. - Class C | 25790 | &nbsp;&nbsp;&nbsp; $6281155 |
| Auto Trader Group PLC | 4046 | &nbsp;&nbsp;&nbsp; 42930 |
| Bilibili, Inc. (ADR) (a) (b) | 3020 | &nbsp;&nbsp;&nbsp; 84832 |
| Cargurus, Inc. (a) | 1189 | &nbsp;&nbsp;&nbsp; 44266 |
| LY Corp.  | 14300 | &nbsp;&nbsp;&nbsp; 46116 |
| Meta Platforms, Inc. - Class A | 11632 | &nbsp;&nbsp;&nbsp; 8542308 |
| Pinterest, Inc. - Class A (a) | 3001 | &nbsp;&nbsp;&nbsp; 96542 |
| Reddit, Inc. - Class A (a) | 204 | &nbsp;&nbsp;&nbsp; 46918 |
| Snap, Inc. - Class A (a) | 3562 | &nbsp;&nbsp;&nbsp; 27463 |
| Tencent Holdings Ltd.  | 1100 | &nbsp;&nbsp;&nbsp; 93715 |
|  |  | &nbsp;&nbsp;&nbsp; 22875163 |
| **IT Services — 0.9%** | **IT Services — 0.9%** | **IT Services — 0.9%** |
| Accenture PLC - Class A | 2010 | &nbsp;&nbsp;&nbsp; 495666 |
| Cloudflare, Inc. - Class A (a) | 1494 | &nbsp;&nbsp;&nbsp; 320598 |
| Cognizant Technology Solutions Corp. - Class A | 814 | &nbsp;&nbsp;&nbsp; 54595 |
| Fujitsu Ltd.  | 5600 | &nbsp;&nbsp;&nbsp; 131669 |
| Gartner, Inc. (a) (b) | 290 | &nbsp;&nbsp;&nbsp; 76232 |
| International Business Machines Corp.  | 4839 | &nbsp;&nbsp;&nbsp; 1365372 |
| MongoDB, Inc. (a) | 69 | &nbsp;&nbsp;&nbsp; 21416 |
| NEC Corp.  | 2700 | &nbsp;&nbsp;&nbsp; 86317 |
| Obic Co. Ltd.  | 1300 | &nbsp;&nbsp;&nbsp; 45381 |
| Okta, Inc. (a) | 1723 | &nbsp;&nbsp;&nbsp; 157999 |
| SCSK Corp.  | 1400 | &nbsp;&nbsp;&nbsp; 41958 |
| Shopify, Inc. - Class A (a) | 5824 | &nbsp;&nbsp;&nbsp; 865319 |
| Snowflake, Inc. - Class A (a) | 4275 | &nbsp;&nbsp;&nbsp; 964226 |
| Twilio, Inc. - Class A (a) | 428 | &nbsp;&nbsp;&nbsp; 42839 |
| VeriSign, Inc.  | 1908 | &nbsp;&nbsp;&nbsp; 533420 |
|  |  | &nbsp;&nbsp;&nbsp; 5203007 |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| Shimano, Inc.  | 200 | &nbsp;&nbsp;&nbsp; 22724 |
| **Life Sciences Tools & Services — 0.3%** | **Life Sciences Tools & Services — 0.3%** | **Life Sciences Tools & Services — 0.3%** |
| Agilent Technologies, Inc.  | 1236 | &nbsp;&nbsp;&nbsp; 158641 |
| Danaher Corp.  | 2170 | &nbsp;&nbsp;&nbsp; 430224 |
| Illumina, Inc. (a) (b) | 488 | &nbsp;&nbsp;&nbsp; 46345 |
| IQVIA Holdings, Inc. (a) | 496 | &nbsp;&nbsp;&nbsp; 94210 |
| Lonza Group AG (b) | 97 | &nbsp;&nbsp;&nbsp; 65100 |
| Mettler-Toledo International, Inc. (a) | 50 | &nbsp;&nbsp;&nbsp; 61381 |
| Thermo Fisher Scientific, Inc.  | 2204 | &nbsp;&nbsp;&nbsp; 1068984 |
| West Pharmaceutical Services, Inc.  | 256 | &nbsp;&nbsp;&nbsp; 67157 |
|  |  | &nbsp;&nbsp;&nbsp; 1992042 |
| **Machinery — 0.9%** | **Machinery — 0.9%** | **Machinery — 0.9%** |
| Atlas Copco AB - A Shares | 15014 | &nbsp;&nbsp;&nbsp; 255661 |
| Caterpillar, Inc.  | 1778 | &nbsp;&nbsp;&nbsp; 848373 |
| Cummins, Inc.  | 449 | &nbsp;&nbsp;&nbsp; 189644 |
| Daimler Truck Holding AG | 1692 | &nbsp;&nbsp;&nbsp; 69719 |
| Deere & Co. (b) | 1582 | &nbsp;&nbsp;&nbsp; 723385 |
| Ebara Corp.  | 7800 | &nbsp;&nbsp;&nbsp; 177827 |
| ESCO Technologies, Inc.  | 368 | &nbsp;&nbsp;&nbsp; 77688 |
| FANUC Corp. (b) | 2500 | &nbsp;&nbsp;&nbsp; 71237 |
| HD Korea Shipbuilding & Offshore Engineering Co. Ltd.  | 137 | &nbsp;&nbsp;&nbsp; 40302 |
| IHI Corp.  | 3500 | &nbsp;&nbsp;&nbsp; 65099 |
| Illinois Tool Works, Inc.  | 1877 | &nbsp;&nbsp;&nbsp; 489447 |

---

**BHFTI-288**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Machinery—(Continued)** | **Machinery—(Continued)** | **Machinery—(Continued)** |
| IMI PLC | 1609 | &nbsp;&nbsp;&nbsp; $49833 |
| Komatsu Ltd.  | 9600 | &nbsp;&nbsp;&nbsp; 334045 |
| Konecranes OYJ | 886 | &nbsp;&nbsp;&nbsp; 73394 |
| Mitsubishi Heavy Industries Ltd.  | 4000 | &nbsp;&nbsp;&nbsp; 104520 |
| Otis Worldwide Corp.  | 2186 | &nbsp;&nbsp;&nbsp; 199866 |
| Parker-Hannifin Corp.  | 1423 | &nbsp;&nbsp;&nbsp; 1078847 |
| Pentair PLC | 1025 | &nbsp;&nbsp;&nbsp; 113529 |
| Sulzer AG | 434 | &nbsp;&nbsp;&nbsp; 73680 |
| Techtronic Industries Co. Ltd.  | 5000 | &nbsp;&nbsp;&nbsp; 64147 |
| Volvo AB - B Shares | 5380 | &nbsp;&nbsp;&nbsp; 155152 |
| Wartsila OYJ Abp | 1566 | &nbsp;&nbsp;&nbsp; 46897 |
| Westinghouse Air Brake Technologies Corp.  | 230 | &nbsp;&nbsp;&nbsp; 46108 |
| Yangzijiang Shipbuilding Holdings Ltd.  | 69900 | &nbsp;&nbsp;&nbsp; 183160 |
|  |  | &nbsp;&nbsp;&nbsp; 5531560 |
| **Marine Transportation — 0.0%** | **Marine Transportation — 0.0%** | **Marine Transportation — 0.0%** |
| Mitsui OSK Lines Ltd. (b) | 1600 | &nbsp;&nbsp;&nbsp; 48651 |
| Nippon Yusen KK | 1300 | &nbsp;&nbsp;&nbsp; 44354 |
|  |  | &nbsp;&nbsp;&nbsp; 93005 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Charter Communications, Inc. - Class A (a) (b) | 268 | &nbsp;&nbsp;&nbsp; 73728 |
| Comcast Corp. - Class A | 9244 | &nbsp;&nbsp;&nbsp; 290446 |
| Fox Corp. - Class A | 759 | &nbsp;&nbsp;&nbsp; 47863 |
| Publicis Groupe SA | 490 | &nbsp;&nbsp;&nbsp; 47034 |
| Trade Desk, Inc. - Class A (a) | 2546 | &nbsp;&nbsp;&nbsp; 124779 |
|  |  | &nbsp;&nbsp;&nbsp; 583850 |
| **Metals & Mining — 0.7%** | **Metals & Mining — 0.7%** | **Metals & Mining — 0.7%** |
| Agnico Eagle Mines Ltd.  | 2141 | &nbsp;&nbsp;&nbsp; 360602 |
| Alamos Gold, Inc. - Class A | 3311 | &nbsp;&nbsp;&nbsp; 115410 |
| Anglo American PLC | 3477 | &nbsp;&nbsp;&nbsp; 130909 |
| B2Gold Corp.  | 18368 | &nbsp;&nbsp;&nbsp; 90804 |
| Barrick Mining Corp.  | 1673 | &nbsp;&nbsp;&nbsp; 54949 |
| BHP Group Ltd.  | 14780 | &nbsp;&nbsp;&nbsp; 412974 |
| Boliden AB (a) | 1311 | &nbsp;&nbsp;&nbsp; 53506 |
| Carpenter Technology Corp.  | 255 | &nbsp;&nbsp;&nbsp; 62613 |
| Evolution Mining Ltd.  | 5490 | &nbsp;&nbsp;&nbsp; 39551 |
| Franco-Nevada Corp. (b) | 1420 | &nbsp;&nbsp;&nbsp; 316069 |
| Freeport-McMoRan, Inc.  | 12345 | &nbsp;&nbsp;&nbsp; 484171 |
| Glencore PLC (a) | 11474 | &nbsp;&nbsp;&nbsp; 53024 |
| Gold Fields Ltd. (ADR) | 3137 | &nbsp;&nbsp;&nbsp; 131629 |
| Kinross Gold Corp.  | 6659 | &nbsp;&nbsp;&nbsp; 165267 |
| Mitsui Mining & Smelting Co. Ltd.  | 1600 | &nbsp;&nbsp;&nbsp; 124050 |
| Newmont Corp.  | 3377 | &nbsp;&nbsp;&nbsp; 284715 |
| Nippon Steel Corp.  | 11000 | &nbsp;&nbsp;&nbsp; 45256 |
| Northern Star Resources Ltd.  | 3150 | &nbsp;&nbsp;&nbsp; 49679 |
| Nucor Corp.  | 1278 | &nbsp;&nbsp;&nbsp; 173080 |
| Rio Tinto Ltd.  | 893 | &nbsp;&nbsp;&nbsp; 72199 |
| Rio Tinto PLC | 5085 | &nbsp;&nbsp;&nbsp; 335102 |
| Steel Dynamics, Inc.  | 2949 | &nbsp;&nbsp;&nbsp; 411179 |
|  |  | &nbsp;&nbsp;&nbsp; 3966738 |
| **Multi-Utilities — 0.3%** | **Multi-Utilities — 0.3%** | **Multi-Utilities — 0.3%** |
| CenterPoint Energy, Inc. (b) | 3211 | &nbsp;&nbsp;&nbsp; 124587 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Multi-Utilities—(Continued)** | **Multi-Utilities—(Continued)** | **Multi-Utilities—(Continued)** |
| CMS Energy Corp.  | 621 | &nbsp;&nbsp;&nbsp; $45494 |
| Consolidated Edison, Inc.  | 2243 | &nbsp;&nbsp;&nbsp; 225466 |
| Dominion Energy, Inc. (b) | 1846 | &nbsp;&nbsp;&nbsp; 112920 |
| E.ON SE | 18191 | &nbsp;&nbsp;&nbsp; 342031 |
| Engie SA | 6522 | &nbsp;&nbsp;&nbsp; 139901 |
| National Grid PLC | 21686 | &nbsp;&nbsp;&nbsp; 312638 |
| NiSource, Inc.  | 5479 | &nbsp;&nbsp;&nbsp; 237241 |
| Public Service Enterprise Group, Inc. (b) | 537 | &nbsp;&nbsp;&nbsp; 44818 |
| Sempra (b) | 3207 | &nbsp;&nbsp;&nbsp; 288566 |
| WEC Energy Group, Inc. (b) | 1371 | &nbsp;&nbsp;&nbsp; 157103 |
|  |  | &nbsp;&nbsp;&nbsp; 2030765 |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Nippon Building Fund, Inc. (b) | 42 | &nbsp;&nbsp;&nbsp; 39629 |
| **Oil, Gas & Consumable Fuels — 1.7%** | **Oil, Gas & Consumable Fuels — 1.7%** | **Oil, Gas & Consumable Fuels — 1.7%** |
| BP PLC | 56978 | &nbsp;&nbsp;&nbsp; 326851 |
| Cameco Corp.  | 1719 | &nbsp;&nbsp;&nbsp; 144269 |
| Canadian Natural Resources Ltd.  | 7278 | &nbsp;&nbsp;&nbsp; 232716 |
| Cenovus Energy, Inc.  | 3269 | &nbsp;&nbsp;&nbsp; 55505 |
| Cheniere Energy, Inc.  | 960 | &nbsp;&nbsp;&nbsp; 225581 |
| Chevron Corp.  | 7268 | &nbsp;&nbsp;&nbsp; 1128648 |
| ConocoPhillips | 9642 | &nbsp;&nbsp;&nbsp; 912037 |
| Enbridge, Inc. (b) | 11512 | &nbsp;&nbsp;&nbsp; 580770 |
| Eni SpA | 13052 | &nbsp;&nbsp;&nbsp; 227911 |
| EOG Resources, Inc.  | 3228 | &nbsp;&nbsp;&nbsp; 361923 |
| Equinor ASA | 3987 | &nbsp;&nbsp;&nbsp; 97522 |
| Expand Energy Corp.  | 466 | &nbsp;&nbsp;&nbsp; 49508 |
| Exxon Mobil Corp.  | 14824 | &nbsp;&nbsp;&nbsp; 1671406 |
| Gaztransport Et Technigaz SA | 1508 | &nbsp;&nbsp;&nbsp; 278875 |
| Hess Midstream LP - Class A | 2144 | &nbsp;&nbsp;&nbsp; 74075 |
| Inpex Corp.  | 10200 | &nbsp;&nbsp;&nbsp; 183456 |
| Keyera Corp.  | 1232 | &nbsp;&nbsp;&nbsp; 41332 |
| Kinder Morgan, Inc.  | 8020 | &nbsp;&nbsp;&nbsp; 227046 |
| Marathon Petroleum Corp.  | 818 | &nbsp;&nbsp;&nbsp; 157661 |
| Occidental Petroleum Corp.  | 1154 | &nbsp;&nbsp;&nbsp; 54527 |
| OMV AG | 1559 | &nbsp;&nbsp;&nbsp; 83137 |
| ONEOK, Inc.  | 679 | &nbsp;&nbsp;&nbsp; 49547 |
| Phillips 66 Co.  | 800 | &nbsp;&nbsp;&nbsp; 108816 |
| Repsol SA | 11554 | &nbsp;&nbsp;&nbsp; 205063 |
| Santos Ltd.  | 8655 | &nbsp;&nbsp;&nbsp; 38763 |
| Shell PLC | 28552 | &nbsp;&nbsp;&nbsp; 1018475 |
| Suncor Energy, Inc.  | 3508 | &nbsp;&nbsp;&nbsp; 146803 |
| TC Energy Corp. (b) | 2956 | &nbsp;&nbsp;&nbsp; 160725 |
| Texas Pacific Land Corp.  | 32 | &nbsp;&nbsp;&nbsp; 29876 |
| TotalEnergies SE | 8199 | &nbsp;&nbsp;&nbsp; 500311 |
| Valero Energy Corp.  | 727 | &nbsp;&nbsp;&nbsp; 123779 |
| Williams Cos., Inc.  | 7664 | &nbsp;&nbsp;&nbsp; 485514 |
| Woodside Energy Group Ltd.  | 6195 | &nbsp;&nbsp;&nbsp; 93053 |
|  |  | &nbsp;&nbsp;&nbsp; 10075481 |
| **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** |
| UPM-Kymmene OYJ (b) | 2368 | &nbsp;&nbsp;&nbsp; 64845 |
| **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** |
| Estee Lauder Cos., Inc. - Class A | 4212 | &nbsp;&nbsp;&nbsp; 371161 |

---

**BHFTI-289**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Personal Care Products—(Continued)** | **Personal Care Products—(Continued)** | **Personal Care Products—(Continued)** |
| Kao Corp.  | 1700 | &nbsp;&nbsp;&nbsp; $74092 |
| Kenvue, Inc.  | 2155 | &nbsp;&nbsp;&nbsp; 34976 |
| L'Oreal SA | 876 | &nbsp;&nbsp;&nbsp; 379573 |
| Shiseido Co. Ltd.  | 100 | &nbsp;&nbsp;&nbsp; 1711 |
| Unilever PLC | 9430 | &nbsp;&nbsp;&nbsp; 557427 |
|  |  | &nbsp;&nbsp;&nbsp; 1418940 |
| **Pharmaceuticals — 2.0%** | **Pharmaceuticals — 2.0%** | **Pharmaceuticals — 2.0%** |
| Astellas Pharma, Inc. (b) | 9300 | &nbsp;&nbsp;&nbsp; 101427 |
| AstraZeneca PLC | 5628 | &nbsp;&nbsp;&nbsp; 859695 |
| Bayer AG | 1388 | &nbsp;&nbsp;&nbsp; 46021 |
| Bristol-Myers Squibb Co.  | 18675 | &nbsp;&nbsp;&nbsp; 842242 |
| Chugai Pharmaceutical Co. Ltd.  | 1500 | &nbsp;&nbsp;&nbsp; 66353 |
| Daiichi Sankyo Co. Ltd.  | 2800 | &nbsp;&nbsp;&nbsp; 62671 |
| Eli Lilly & Co.  | 4246 | &nbsp;&nbsp;&nbsp; 3239698 |
| GSK PLC | 17152 | &nbsp;&nbsp;&nbsp; 368774 |
| Haleon PLC | 10184 | &nbsp;&nbsp;&nbsp; 46001 |
| Johnson & Johnson | 8345 | &nbsp;&nbsp;&nbsp; 1547330 |
| Merck & Co., Inc.  | 8955 | &nbsp;&nbsp;&nbsp; 751593 |
| Novartis AG | 7057 | &nbsp;&nbsp;&nbsp; 907463 |
| Novo Nordisk AS - Class B (b) | 10606 | &nbsp;&nbsp;&nbsp; 585406 |
| Orion OYJ - Class B | 3907 | &nbsp;&nbsp;&nbsp; 299270 |
| Pfizer, Inc.  | 18878 | &nbsp;&nbsp;&nbsp; 481011 |
| Recordati Industria Chimica e Farmaceutica SpA | 1366 | &nbsp;&nbsp;&nbsp; 82973 |
| Roche Holding AG (b) | 2092 | &nbsp;&nbsp;&nbsp; 688543 |
| Sandoz Group AG | 1638 | &nbsp;&nbsp;&nbsp; 97408 |
| Sanofi SA | 3322 | &nbsp;&nbsp;&nbsp; 314010 |
| Takeda Pharmaceutical Co. Ltd.  | 5200 | &nbsp;&nbsp;&nbsp; 151807 |
| UCB SA | 193 | &nbsp;&nbsp;&nbsp; 53397 |
| Zoetis, Inc.  | 1585 | &nbsp;&nbsp;&nbsp; 231917 |
|  |  | &nbsp;&nbsp;&nbsp; 11825010 |
| **Professional Services — 0.4%** | **Professional Services — 0.4%** | **Professional Services — 0.4%** |
| Automatic Data Processing, Inc.  | 1726 | &nbsp;&nbsp;&nbsp; 506581 |
| Experian PLC | 2431 | &nbsp;&nbsp;&nbsp; 122430 |
| Leidos Holdings, Inc.  | 1352 | &nbsp;&nbsp;&nbsp; 255474 |
| MEITEC Group Holdings, Inc.  | 2800 | &nbsp;&nbsp;&nbsp; 60376 |
| Paychex, Inc.  | 1388 | &nbsp;&nbsp;&nbsp; 175943 |
| Recruit Holdings Co. Ltd.  | 6800 | &nbsp;&nbsp;&nbsp; 364848 |
| RELX PLC | 8147 | &nbsp;&nbsp;&nbsp; 389119 |
| SS&C Technologies Holdings, Inc.  | 1193 | &nbsp;&nbsp;&nbsp; 105891 |
| Verisk Analytics, Inc.  | 488 | &nbsp;&nbsp;&nbsp; 122737 |
| Wolters Kluwer NV | 346 | &nbsp;&nbsp;&nbsp; 47231 |
|  |  | &nbsp;&nbsp;&nbsp; 2150630 |
| **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** |
| CBRE Group, Inc. - Class A (a) | 3239 | &nbsp;&nbsp;&nbsp; 510337 |
| CK Asset Holdings Ltd.  | 10000 | &nbsp;&nbsp;&nbsp; 48530 |
| CoStar Group, Inc. (a) | 1351 | &nbsp;&nbsp;&nbsp; 113984 |
| Mitsubishi Estate Co. Ltd.  | 2600 | &nbsp;&nbsp;&nbsp; 59874 |
| Mitsui Fudosan Co. Ltd.  | 11800 | &nbsp;&nbsp;&nbsp; 128906 |
| Vonovia SE | 1587 | &nbsp;&nbsp;&nbsp; 49531 |
| Zillow Group, Inc. - Class C (a) | 523 | &nbsp;&nbsp;&nbsp; 40297 |
|  |  | &nbsp;&nbsp;&nbsp; 951459 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Residential REITs — 0.0%** | **Residential REITs — 0.0%** | **Residential REITs — 0.0%** |
| Equity LifeStyle Properties, Inc.  | 976 | &nbsp;&nbsp;&nbsp; $59243 |
| **Retail REITs — 0.1%** | **Retail REITs — 0.1%** | **Retail REITs — 0.1%** |
| Agree Realty Corp. (b) | 1920 | &nbsp;&nbsp;&nbsp; 136397 |
| Kimco Realty Corp.  | 7938 | &nbsp;&nbsp;&nbsp; 173445 |
| Realty Income Corp.  | 1228 | &nbsp;&nbsp;&nbsp; 74650 |
| Simon Property Group, Inc.  | 2219 | &nbsp;&nbsp;&nbsp; 416440 |
|  |  | &nbsp;&nbsp;&nbsp; 800932 |
| **Semiconductors & Semiconductor Equipment — 6.7%** | **Semiconductors & Semiconductor Equipment — 6.7%** | **Semiconductors & Semiconductor Equipment — 6.7%** |
| Advanced Micro Devices, Inc. (a) | 11621 | &nbsp;&nbsp;&nbsp; 1880162 |
| Advantest Corp.  | 3400 | &nbsp;&nbsp;&nbsp; 339933 |
| Analog Devices, Inc.  | 1889 | &nbsp;&nbsp;&nbsp; 464127 |
| Applied Materials, Inc.  | 2817 | &nbsp;&nbsp;&nbsp; 576753 |
| ASM International NV | 86 | &nbsp;&nbsp;&nbsp; 51696 |
| ASML Holding NV | 1372 | &nbsp;&nbsp;&nbsp; 1337648 |
| Broadcom, Inc.  | 23212 | &nbsp;&nbsp;&nbsp; 7657871 |
| Credo Technology Group Holding Ltd. (a) | 1363 | &nbsp;&nbsp;&nbsp; 198466 |
| Disco Corp.  | 200 | &nbsp;&nbsp;&nbsp; 62828 |
| First Solar, Inc. (a) | 2417 | &nbsp;&nbsp;&nbsp; 533021 |
| Infineon Technologies AG | 2636 | &nbsp;&nbsp;&nbsp; 102888 |
| Intel Corp. (a) | 14533 | &nbsp;&nbsp;&nbsp; 487582 |
| KLA Corp.  | 859 | &nbsp;&nbsp;&nbsp; 926517 |
| Lam Research Corp.  | 6583 | &nbsp;&nbsp;&nbsp; 881464 |
| Lasertec Corp.  | 200 | &nbsp;&nbsp;&nbsp; 27634 |
| Marvell Technology, Inc. (b) | 3217 | &nbsp;&nbsp;&nbsp; 270453 |
| Microchip Technology, Inc.  | 932 | &nbsp;&nbsp;&nbsp; 59853 |
| Micron Technology, Inc.  | 3967 | &nbsp;&nbsp;&nbsp; 663758 |
| Monolithic Power Systems, Inc.  | 157 | &nbsp;&nbsp;&nbsp; 144540 |
| NVIDIA Corp.  | 114335 | &nbsp;&nbsp;&nbsp; 21332624 |
| NXP Semiconductors NV | 936 | &nbsp;&nbsp;&nbsp; 213155 |
| ON Semiconductor Corp. (a) | 879 | &nbsp;&nbsp;&nbsp; 43344 |
| QUALCOMM, Inc.  | 3752 | &nbsp;&nbsp;&nbsp; 624183 |
| Rambus, Inc. (a) | 724 | &nbsp;&nbsp;&nbsp; 75441 |
| Renesas Electronics Corp.  | 3800 | &nbsp;&nbsp;&nbsp; 43657 |
| STMicroelectronics NV | 1646 | &nbsp;&nbsp;&nbsp; 46528 |
| Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 620 | &nbsp;&nbsp;&nbsp; 173160 |
| Texas Instruments, Inc.  | 6417 | &nbsp;&nbsp;&nbsp; 1178995 |
| Tokyo Electron Ltd.  | 1100 | &nbsp;&nbsp;&nbsp; 198330 |
|  |  | &nbsp;&nbsp;&nbsp; 40596611 |
| **Software — 5.4%** | **Software — 5.4%** | **Software — 5.4%** |
| Adobe, Inc. (a) | 2418 | &nbsp;&nbsp;&nbsp; 852949 |
| AppLovin Corp. - Class A (a) (b) | 872 | &nbsp;&nbsp;&nbsp; 626567 |
| Atlassian Corp. - Class A (a) | 377 | &nbsp;&nbsp;&nbsp; 60207 |
| Autodesk, Inc. (a) | 1289 | &nbsp;&nbsp;&nbsp; 409477 |
| Cadence Design Systems, Inc. (a) | 2031 | &nbsp;&nbsp;&nbsp; 713409 |
| Constellation Software, Inc.  | 151 | &nbsp;&nbsp;&nbsp; 409912 |
| Crowdstrike Holdings, Inc. - Class A (a) (b) | 1147 | &nbsp;&nbsp;&nbsp; 562466 |
| Datadog, Inc. - Class A (a) | 1353 | &nbsp;&nbsp;&nbsp; 192667 |
| Docusign, Inc. (a) | 811 | &nbsp;&nbsp;&nbsp; 58465 |
| Fair Isaac Corp. (a) | 59 | &nbsp;&nbsp;&nbsp; 88295 |
| Fortinet, Inc. (a) | 2542 | &nbsp;&nbsp;&nbsp; 213731 |
| Gen Digital, Inc.  | 3355 | &nbsp;&nbsp;&nbsp; 95248 |
| HubSpot, Inc. (a) | 143 | &nbsp;&nbsp;&nbsp; 66895 |
| Intuit, Inc.  | 1921 | &nbsp;&nbsp;&nbsp; 1311870 |

---

**BHFTI-290**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Software—(Continued)** | **Software—(Continued)** | **Software—(Continued)** |
| Microsoft Corp.  | 34205 | &nbsp;&nbsp;&nbsp; $17716480 |
| Nutanix, Inc. - Class A (a) | 3438 | &nbsp;&nbsp;&nbsp; 255753 |
| Oracle Corp.  | 9527 | &nbsp;&nbsp;&nbsp; 2679373 |
| Palantir Technologies, Inc. - Class A (a) | 7930 | &nbsp;&nbsp;&nbsp; 1446591 |
| Palo Alto Networks, Inc. (a) (b) | 2927 | &nbsp;&nbsp;&nbsp; 595996 |
| Roper Technologies, Inc.  | 351 | &nbsp;&nbsp;&nbsp; 175040 |
| Sage Group PLC | 3057 | &nbsp;&nbsp;&nbsp; 45389 |
| Salesforce, Inc.  | 5392 | &nbsp;&nbsp;&nbsp; 1277904 |
| SAP SE | 4321 | &nbsp;&nbsp;&nbsp; 1158424 |
| ServiceNow, Inc. (a) | 784 | &nbsp;&nbsp;&nbsp; 721500 |
| Strategy, Inc. - Class A (a) (b) | 856 | &nbsp;&nbsp;&nbsp; 275812 |
| Synopsys, Inc. (a) (b) | 593 | &nbsp;&nbsp;&nbsp; 292580 |
| WiseTech Global Ltd.  | 596 | &nbsp;&nbsp;&nbsp; 35642 |
| Workday, Inc. - Class A (a) | 398 | &nbsp;&nbsp;&nbsp; 95811 |
| Xero Ltd. (a) | 421 | &nbsp;&nbsp;&nbsp; 44003 |
| Zscaler, Inc. (a) | 872 | &nbsp;&nbsp;&nbsp; 261304 |
|  |  | &nbsp;&nbsp;&nbsp; 32739760 |
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| American Tower Corp.  | 1053 | &nbsp;&nbsp;&nbsp; 202513 |
| Crown Castle, Inc.  | 744 | &nbsp;&nbsp;&nbsp; 71788 |
| Digital Realty Trust, Inc.  | 1819 | &nbsp;&nbsp;&nbsp; 314469 |
| Equinix, Inc.  | 458 | &nbsp;&nbsp;&nbsp; 358724 |
| Gaming & Leisure Properties, Inc. (b) | 939 | &nbsp;&nbsp;&nbsp; 43767 |
| Iron Mountain, Inc.  | 490 | &nbsp;&nbsp;&nbsp; 49951 |
| Public Storage | 401 | &nbsp;&nbsp;&nbsp; 115829 |
| SBA Communications Corp.  | 290 | &nbsp;&nbsp;&nbsp; 56071 |
| Weyerhaeuser Co.  | 2195 | &nbsp;&nbsp;&nbsp; 54414 |
|  |  | &nbsp;&nbsp;&nbsp; 1267526 |
| **Specialty Retail — 0.9%** | **Specialty Retail — 0.9%** | **Specialty Retail — 0.9%** |
| AutoNation, Inc. (a) | 208 | &nbsp;&nbsp;&nbsp; 45504 |
| AutoZone, Inc. (a) | 111 | &nbsp;&nbsp;&nbsp; 476217 |
| Carvana Co. (a) | 69 | &nbsp;&nbsp;&nbsp; 26030 |
| Fast Retailing Co. Ltd.  | 200 | &nbsp;&nbsp;&nbsp; 60734 |
| Home Depot, Inc.  | 4403 | &nbsp;&nbsp;&nbsp; 1784052 |
| Industria de Diseno Textil SA | 4584 | &nbsp;&nbsp;&nbsp; 253248 |
| Lowe's Cos., Inc.  | 1512 | &nbsp;&nbsp;&nbsp; 379981 |
| O'Reilly Automotive, Inc. (a) | 10204 | &nbsp;&nbsp;&nbsp; 1100093 |
| Ross Stores, Inc.  | 698 | &nbsp;&nbsp;&nbsp; 106368 |
| Sanrio Co. Ltd.  | 2800 | &nbsp;&nbsp;&nbsp; 131130 |
| TJX Cos., Inc.  | 7518 | &nbsp;&nbsp;&nbsp; 1086652 |
| Ulta Beauty, Inc. (a) | 86 | &nbsp;&nbsp;&nbsp; 47020 |
| Williams-Sonoma, Inc.  | 227 | &nbsp;&nbsp;&nbsp; 44367 |
|  |  | &nbsp;&nbsp;&nbsp; 5541396 |
| **Technology Hardware, Storage & Peripherals — 2.8%** | **Technology Hardware, Storage & Peripherals — 2.8%** | **Technology Hardware, Storage & Peripherals — 2.8%** |
| Apple, Inc.  | 61536 | &nbsp;&nbsp;&nbsp; 15668912 |
| Canon, Inc.  | 1500 | &nbsp;&nbsp;&nbsp; 43910 |
| Dell Technologies, Inc. - Class C | 1143 | &nbsp;&nbsp;&nbsp; 162043 |
| Hewlett Packard Enterprise Co.  | 3509 | &nbsp;&nbsp;&nbsp; 86181 |
| HP, Inc. (b) | 2634 | &nbsp;&nbsp;&nbsp; 71724 |
| Logitech International SA | 438 | &nbsp;&nbsp;&nbsp; 48240 |
| Pure Storage, Inc. - Class A (a) (b) | 3653 | &nbsp;&nbsp;&nbsp; 306158 |
| Seagate Technology Holdings PLC (b) | 471 | &nbsp;&nbsp;&nbsp; 111184 |
| Super Micro Computer, Inc. (a) (b) | 1010 | &nbsp;&nbsp;&nbsp; 48419 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Technology Hardware, Storage & Peripherals—(Continued)** | **Technology Hardware, Storage & Peripherals—(Continued)** | **Technology Hardware, Storage & Peripherals—(Continued)** |
| Western Digital Corp.  | 878 | &nbsp;&nbsp;&nbsp; $105413 |
| Xiaomi Corp. - Class B (a) | 32600 | &nbsp;&nbsp;&nbsp; 226989 |
|  |  | &nbsp;&nbsp;&nbsp; 16879173 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |
| adidas AG | 333 | &nbsp;&nbsp;&nbsp; 70237 |
| Asics Corp.  | 5500 | &nbsp;&nbsp;&nbsp; 143608 |
| Cie Financiere Richemont SA - Class A | 1082 | &nbsp;&nbsp;&nbsp; 207613 |
| Gildan Activewear, Inc.  | 530 | &nbsp;&nbsp;&nbsp; 30619 |
| Hermes International SCA | 100 | &nbsp;&nbsp;&nbsp; 245243 |
| Kering SA | 163 | &nbsp;&nbsp;&nbsp; 54319 |
| Lululemon Athletica, Inc. (a) | 322 | &nbsp;&nbsp;&nbsp; 57293 |
| LVMH Moet Hennessy Louis Vuitton SE | 801 | &nbsp;&nbsp;&nbsp; 490119 |
| NIKE, Inc. - Class B | 3173 | &nbsp;&nbsp;&nbsp; 221253 |
| Tapestry, Inc.  | 4865 | &nbsp;&nbsp;&nbsp; 550815 |
|  |  | &nbsp;&nbsp;&nbsp; 2071119 |
| **Tobacco — 0.1%** | **Tobacco — 0.1%** | **Tobacco — 0.1%** |
| Altria Group, Inc.  | 1642 | &nbsp;&nbsp;&nbsp; 108470 |
| British American Tobacco PLC | 1982 | &nbsp;&nbsp;&nbsp; 105177 |
| Imperial Brands PLC | 1229 | &nbsp;&nbsp;&nbsp; 52208 |
| Japan Tobacco, Inc.  | 2700 | &nbsp;&nbsp;&nbsp; 88742 |
| Philip Morris International, Inc.  | 1933 | &nbsp;&nbsp;&nbsp; 313533 |
|  |  | &nbsp;&nbsp;&nbsp; 668130 |
| **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** |
| AerCap Holdings NV | 363 | &nbsp;&nbsp;&nbsp; 43923 |
| Ashtead Group PLC | 1297 | &nbsp;&nbsp;&nbsp; 87159 |
| Fastenal Co.  | 11791 | &nbsp;&nbsp;&nbsp; 578231 |
| Ferguson Enterprises, Inc.  | 1232 | &nbsp;&nbsp;&nbsp; 277081 |
| ITOCHU Corp.  | 4700 | &nbsp;&nbsp;&nbsp; 270277 |
| Marubeni Corp.  | 2000 | &nbsp;&nbsp;&nbsp; 49906 |
| Mitsubishi Corp.  | 14900 | &nbsp;&nbsp;&nbsp; 355184 |
| Mitsui & Co. Ltd.  | 13600 | &nbsp;&nbsp;&nbsp; 337718 |
| MonotaRO Co. Ltd.  | 1800 | &nbsp;&nbsp;&nbsp; 26141 |
| Rexel SA | 1029 | &nbsp;&nbsp;&nbsp; 33978 |
| Sumitomo Corp.  | 8700 | &nbsp;&nbsp;&nbsp; 251777 |
| United Rentals, Inc.  | 298 | &nbsp;&nbsp;&nbsp; 284489 |
| WW Grainger, Inc.  | 94 | &nbsp;&nbsp;&nbsp; 89578 |
|  |  | &nbsp;&nbsp;&nbsp; 2685442 |
| **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** |
| Aena SME SA | 6474 | &nbsp;&nbsp;&nbsp; 177381 |
| **Water Utilities — 0.0%** | **Water Utilities — 0.0%** | **Water Utilities — 0.0%** |
| American Water Works Co., Inc. (b) | 312 | &nbsp;&nbsp;&nbsp; 43427 |
| **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** |
| KDDI Corp.  | 20900 | &nbsp;&nbsp;&nbsp; 334892 |
| SoftBank Corp.  | 33700 | &nbsp;&nbsp;&nbsp; 49567 |
| SoftBank Group Corp.  | 1600 | &nbsp;&nbsp;&nbsp; 203216 |
| Tele2 AB - B Shares | 2598 | &nbsp;&nbsp;&nbsp; 44321 |
| T-Mobile U.S., Inc.  | 3584 | &nbsp;&nbsp;&nbsp; 857938 |

---

**BHFTI-291**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Wireless Telecommunication Services—(Continued)** | **Wireless Telecommunication Services—(Continued)** | **Wireless Telecommunication Services—(Continued)** |
| Vodafone Group PLC | 163831 | &nbsp;&nbsp;&nbsp; $189977 |
|  |  | &nbsp;&nbsp;&nbsp; 1679911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $256,984,684) <br>|  | &nbsp;&nbsp;&nbsp; 350482626 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—36.5%** | **Corporate Bonds & Notes—36.5%** | **Corporate Bonds & Notes—36.5%** |
| **Aerospace/Defense — 1.1%** | **Aerospace/Defense — 1.1%** | **Aerospace/Defense — 1.1%** |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 02/01/35 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1735691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.805%, 05/01/50 (b) | 500000 | &nbsp;&nbsp;&nbsp; 499532 |
| General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 07/29/30 | 434000 | &nbsp;&nbsp;&nbsp; 436578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 01/29/36 (b) | 201000 | &nbsp;&nbsp;&nbsp; 203801 |
| Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/31 (b) | 1500000 | &nbsp;&nbsp;&nbsp; 1539055 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 09/01/31 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 870078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 03/15/54 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1118813 |
|  |  | &nbsp;&nbsp;&nbsp; 6403548 |
| **Agriculture — 0.4%** | **Agriculture — 0.4%** | **Agriculture — 0.4%** |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, 08/15/37 | 1303000 | &nbsp;&nbsp;&nbsp; 1194870 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 04/30/30 (b) | 1076000 | &nbsp;&nbsp;&nbsp; 1080787 |
|  |  | &nbsp;&nbsp;&nbsp; 2275657 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| Gildan Activewear, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/07/35 (144A) | 181000 | &nbsp;&nbsp;&nbsp; 181025 |
| Tapestry, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 03/15/32 (b) | 600000 | &nbsp;&nbsp;&nbsp; 544879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/11/35 | 1235000 | &nbsp;&nbsp;&nbsp; 1261536 |
|  |  | &nbsp;&nbsp;&nbsp; 1987440 |
| **Auto Manufacturers — 1.4%** | **Auto Manufacturers — 1.4%** | **Auto Manufacturers — 1.4%** |
| BMW U.S. Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 03/21/35 (144A) (b) | 1073000 | &nbsp;&nbsp;&nbsp; 1110147 |
| Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/13/35 (144A) (b) | 1056000 | &nbsp;&nbsp;&nbsp; 1090930 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 02/16/28 (b) | 1136000 | &nbsp;&nbsp;&nbsp; 1080030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/13/30 | 200000 | &nbsp;&nbsp;&nbsp; 186562 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 06/10/31 (b) | 480000 | &nbsp;&nbsp;&nbsp; 429123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 09/06/34 (b) | 619000 | &nbsp;&nbsp;&nbsp; 622684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 02/08/31 | 647000 | &nbsp;&nbsp;&nbsp; 674073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 04/04/34 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2077101 |
| Stellantis Finance U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 03/18/35 (144A) (b) | 1075000 | &nbsp;&nbsp;&nbsp; 1101947 |
|  |  | &nbsp;&nbsp;&nbsp; 8372597 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks — 9.8%** | **Banks — 9.8%** | **Banks — 9.8%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.884%, 3M TSFR + 1.452%, 10/22/30 (b) (c) | 1649000 | &nbsp;&nbsp;&nbsp; $1565108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.972%, SOFR + 1.330%, 02/04/33 (b) (c) | 4836000 | &nbsp;&nbsp;&nbsp; 4403839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5Y H15 + 2.760%, 01/27/27 (c) | 1097000 | &nbsp;&nbsp;&nbsp; 1078997 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.667%, 1Y H15 + 1.200%, 03/10/32 (b) (c) | 1477000 | &nbsp;&nbsp;&nbsp; 1336687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.335%, SOFR + 1.910%, 09/10/35 (b) (c) | 887000 | &nbsp;&nbsp;&nbsp; 899805 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, SOFR + 1.581%, 05/28/31 (144A) (b) (c) | 571000 | &nbsp;&nbsp;&nbsp; 585814 |
| Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.570%, 04/30/34 (b) | 3470000 | &nbsp;&nbsp;&nbsp; 3677473 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.174%, SOFR + 1.488%, 09/11/36 (c) | 989000 | &nbsp;&nbsp;&nbsp; 999036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5Y H15 + 2.890%, 08/15/30 (c) | 496000 | &nbsp;&nbsp;&nbsp; 511156 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.818%, SOFR + 1.360%, 09/25/33 (144A) (b) (c) | 1258000 | &nbsp;&nbsp;&nbsp; 1250268 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, SOFR + 1.230%, 03/25/31 (c) | 1298000 | &nbsp;&nbsp;&nbsp; 1329454 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 06/20/33 (144A) (b) | 2344000 | &nbsp;&nbsp;&nbsp; 2580090 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.953%, SOFR + 1.065%, 02/04/32 (c) | 2080000 | &nbsp;&nbsp;&nbsp; 1838653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.739%, 3M TSFR + 1.510%, 10/15/30 (b) (c) | 6243000 | &nbsp;&nbsp;&nbsp; 5895889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 5Y H15 + 2.850%, 06/01/26 (c) | 1081000 | &nbsp;&nbsp;&nbsp; 1069147 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 10/01/29 (b) | 1417000 | &nbsp;&nbsp;&nbsp; 1327754 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.721%, 1Y H15 + 1.070%, 06/05/30 (c) | 2413000 | &nbsp;&nbsp;&nbsp; 2523659 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.053%, SOFR + 1.850%, 01/27/34 (b) (c) | 673000 | &nbsp;&nbsp;&nbsp; 674721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 5Y H15 + 1.430%, 07/30/35 (b) (c) | 650000 | &nbsp;&nbsp;&nbsp; 654942 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.159%, 1Y H15 + 1.170%, 04/24/31 (b) (c) | 284000 | &nbsp;&nbsp;&nbsp; 292637 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.794%, SOFR + 1.034%, 02/13/32 (c) | 949000 | &nbsp;&nbsp;&nbsp; 827697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.699%, SOFR + 1.143%, 01/22/31 (c) | 672000 | &nbsp;&nbsp;&nbsp; 627940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.943%, SOFR + 1.290%, 01/21/33 (c) | 4900000 | &nbsp;&nbsp;&nbsp; 4454853 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 5Y H15 + 3.238%, 09/15/27 (c) | 2070000 | &nbsp;&nbsp;&nbsp; 2104370 |
| Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1Y H15 + 1.200%, 08/12/36 (144A) (c) | 805000 | &nbsp;&nbsp;&nbsp; 816825 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 06/05/30 (b) | 724000 | &nbsp;&nbsp;&nbsp; 652213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.711%, SOFR + 1.922%, 01/24/35 (b) (c) | 640000 | &nbsp;&nbsp;&nbsp; 671597 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.839%, SOFR + 1.600%, 02/01/34 (c) | 2159000 | &nbsp;&nbsp;&nbsp; 2168454 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.091%, SOFR + 1.730%, 05/14/32 (144A) (b) (c) | 3617000 | &nbsp;&nbsp;&nbsp; 3347052 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, SOFR + 1.500%, 03/02/33 (b) (c) | 6744000 | &nbsp;&nbsp;&nbsp; 6277820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5Y H15 + 3.453%, 03/15/26 (c) | 1080000 | &nbsp;&nbsp;&nbsp; 1069512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, SOFR + 2.020%, 04/24/34 (c) | 1920000 | &nbsp;&nbsp;&nbsp; 1994997 |
|  |  | &nbsp;&nbsp;&nbsp; 59508459 |

---

**BHFTI-292**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Bacardi-Martini BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/35 (144A) (b) | 771000 | &nbsp;&nbsp;&nbsp; $801747 |
| **Building Materials — 0.3%** | **Building Materials — 0.3%** | **Building Materials — 0.3%** |
| Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 06/15/54 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1031940 |
| Trane Technologies Financing Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/03/33 | 1000000 | &nbsp;&nbsp;&nbsp; 1040517 |
|  |  | &nbsp;&nbsp;&nbsp; 2072457 |
| **Computers — 0.3%** | **Computers — 0.3%** | **Computers — 0.3%** |
| Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/31 | 548000 | &nbsp;&nbsp;&nbsp; 546733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 02/15/36 | 1156000 | &nbsp;&nbsp;&nbsp; 1149552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 04/01/32 | 403000 | &nbsp;&nbsp;&nbsp; 416043 |
|  |  | &nbsp;&nbsp;&nbsp; 2112328 |
| **Diversified Financial Services — 1.9%** | **Diversified Financial Services — 1.9%** | **Diversified Financial Services — 1.9%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/15/31 | 1069000 | &nbsp;&nbsp;&nbsp; 1105600 |
| Aircastle Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/18/28 (144A) (b) | 1773000 | &nbsp;&nbsp;&nbsp; 1863138 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.548%, SOFR + 1.780%, 07/31/33 (c) | 813000 | &nbsp;&nbsp;&nbsp; 816011 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.918%, SOFR + 1.220%, 07/20/33 (c) | 781000 | &nbsp;&nbsp;&nbsp; 794596 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 10/15/32 (144A) | 1978000 | &nbsp;&nbsp;&nbsp; 1954119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 01/15/30 (144A) | 1078000 | &nbsp;&nbsp;&nbsp; 1093443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/30/30 (144A) | 286000 | &nbsp;&nbsp;&nbsp; 293375 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.359%, SOFR + 1.337%, 07/29/32 (b) (c) | 345000 | &nbsp;&nbsp;&nbsp; 297789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.197%, SOFR + 1.630%, 09/11/36 (c) | 495000 | &nbsp;&nbsp;&nbsp; 489556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 11/29/32 (b) | 1425000 | &nbsp;&nbsp;&nbsp; 1572099 |
| Stellantis Financial Services U.S. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 09/15/30 (144A) | 751000 | &nbsp;&nbsp;&nbsp; 752574 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, SOFR + 2.070%, 07/29/36 (c) | 269000 | &nbsp;&nbsp;&nbsp; 275144 |
|  |  | &nbsp;&nbsp;&nbsp; 11307444 |
| **Electric — 2.2%** | **Electric — 2.2%** | **Electric — 2.2%** |
| Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 06/01/53 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1963195 |
| Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/15/37 | 345000 | &nbsp;&nbsp;&nbsp; 382189 |
| Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 06/01/55 (b) | 313000 | &nbsp;&nbsp;&nbsp; 332716 |
| Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/30/35 (144A) | 763000 | &nbsp;&nbsp;&nbsp; 751874 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 06/01/34 (b) | 978000 | &nbsp;&nbsp;&nbsp; 1022302 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 06/15/34 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2086319 |
| PG&E Energy Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.280%, 01/15/38 | 1624000 | &nbsp;&nbsp;&nbsp; 1321259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.822%, 07/15/48 | 2151000 | &nbsp;&nbsp;&nbsp; 1535341 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric—(Continued)** | **Electric—(Continued)** | **Electric—(Continued)** |
| Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/01/35 | 585000 | &nbsp;&nbsp;&nbsp; $576928 |
| Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 09/15/35 (b) | 1664000 | &nbsp;&nbsp;&nbsp; 1655294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 03/15/35 (b) | 1843000 | &nbsp;&nbsp;&nbsp; 1876687 |
|  |  | &nbsp;&nbsp;&nbsp; 13504104 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Molex Electronic Technologies LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/30/32 (144A) | 320000 | &nbsp;&nbsp;&nbsp; 325640 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| Keysight Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 07/30/30 (b) | 871000 | &nbsp;&nbsp;&nbsp; 905344 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/04/31 (144A) | 1268000 | &nbsp;&nbsp;&nbsp; 1287045 |
| **Environmental Control — 0.2%** | **Environmental Control — 0.2%** | **Environmental Control — 0.2%** |
| Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/33 (b) | 500000 | &nbsp;&nbsp;&nbsp; 516678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 03/15/35 (b) | 546000 | &nbsp;&nbsp;&nbsp; 563763 |
|  |  | &nbsp;&nbsp;&nbsp; 1080441 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| Flowers Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 03/15/31 (b) | 630000 | &nbsp;&nbsp;&nbsp; 559147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/15/35 (b) | 987000 | &nbsp;&nbsp;&nbsp; 1005312 |
| Kellanova |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/33 (b) | 646000 | &nbsp;&nbsp;&nbsp; 669610 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 03/01/35 (144A) | 1000000 | &nbsp;&nbsp;&nbsp; 1022136 |
|  |  | &nbsp;&nbsp;&nbsp; 3256205 |
| **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 07/15/31 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1774250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/52 | 1220000 | &nbsp;&nbsp;&nbsp; 1007414 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 08/15/49 | 3334000 | &nbsp;&nbsp;&nbsp; 2496052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 07/15/34 (b) | 1215000 | &nbsp;&nbsp;&nbsp; 1247024 |
|  |  | &nbsp;&nbsp;&nbsp; 6524740 |
| **Insurance — 3.7%** | **Insurance — 3.7%** | **Insurance — 3.7%** |
| American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 05/07/35 (b) | 533000 | &nbsp;&nbsp;&nbsp; 555230 |
| Assurant, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 02/15/36 | 229000 | &nbsp;&nbsp;&nbsp; 232080 |
| Beacon Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.266%, 08/15/54 (144A) | 2235000 | &nbsp;&nbsp;&nbsp; 2287139 |
| Belrose Funding Trust II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.792%, 05/15/55 (144A) (b) | 694000 | &nbsp;&nbsp;&nbsp; 751558 |
| Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 08/15/35 | 1118000 | &nbsp;&nbsp;&nbsp; 1124646 |

---

**BHFTI-293**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Insurance—(Continued)** | **Insurance—(Continued)** | **Insurance—(Continued)** |
| CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 08/15/35 (b) | 1113000 | &nbsp;&nbsp;&nbsp; $1115128 |
| Hartford Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 09/15/51 | 3318000 | &nbsp;&nbsp;&nbsp; 2153059 |
| High Street Funding Trust III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.807%, 02/15/55 (144A) (b) | 353000 | &nbsp;&nbsp;&nbsp; 352803 |
| Horace Mann Educators Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 10/01/30 (b) | 449000 | &nbsp;&nbsp;&nbsp; 444559 |
| Lincoln Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/28/28 (144A) | 572000 | &nbsp;&nbsp;&nbsp; 577875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 01/13/30 (144A) (b) | 637000 | &nbsp;&nbsp;&nbsp; 659122 |
| MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 09/17/31 (144A) (b) | 1516000 | &nbsp;&nbsp;&nbsp; 1506865 |
| New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 07/25/28 (144A) (b) | 1682000 | &nbsp;&nbsp;&nbsp; 1688940 |
| Northwestern Mutual Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.170%, 05/29/55 (144A) (b) | 404000 | &nbsp;&nbsp;&nbsp; 434604 |
| Omnis Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.722%, 05/15/55 (144A) (b) | 1375000 | &nbsp;&nbsp;&nbsp; 1483141 |
| Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/17/32 (144A) | 1841000 | &nbsp;&nbsp;&nbsp; 1874056 |
| Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/26/32 (144A) (b) | 1119000 | &nbsp;&nbsp;&nbsp; 1130274 |
| Principal Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 11/27/29 (144A) (b) | 605000 | &nbsp;&nbsp;&nbsp; 617906 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5Y H15 + 3.162%, 03/01/52 (b) (c) | 1827000 | &nbsp;&nbsp;&nbsp; 1833617 |
| Unum Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/49 (b) | 795000 | &nbsp;&nbsp;&nbsp; 648297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/54 (b) | 1010000 | &nbsp;&nbsp;&nbsp; 1022380 |
|  |  | &nbsp;&nbsp;&nbsp; 22493279 |
| **Investment Companies — 0.2%** | **Investment Companies — 0.2%** | **Investment Companies — 0.2%** |
| EQT AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 05/08/35 (144A) | 946000 | &nbsp;&nbsp;&nbsp; 976821 |
| **Leisure Time — 0.4%** | **Leisure Time — 0.4%** | **Leisure Time — 0.4%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/28 (144A) (b) | 669000 | &nbsp;&nbsp;&nbsp; 659437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/29 (144A) | 691000 | &nbsp;&nbsp;&nbsp; 691000 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/15/36 | 1168000 | &nbsp;&nbsp;&nbsp; 1174811 |
|  |  | &nbsp;&nbsp;&nbsp; 2525248 |
| **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** |
| Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 06/15/34 | 1000000 | &nbsp;&nbsp;&nbsp; 1042636 |
| Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 04/15/33 (b) | 500000 | &nbsp;&nbsp;&nbsp; 536773 |
|  |  | &nbsp;&nbsp;&nbsp; 1579409 |
| **Media — 1.3%** | **Media — 1.3%** | **Media — 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 04/01/51 | 5173000 | &nbsp;&nbsp;&nbsp; 3412678 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Media—(Continued)** | **Media—(Continued)** | **Media—(Continued)** |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.887%, 11/01/51 | 5000000 | &nbsp;&nbsp;&nbsp; $3079855 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 05/19/32 (b) | 1250000 | &nbsp;&nbsp;&nbsp; 1164471 |
|  |  | &nbsp;&nbsp;&nbsp; 7657004 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| Siemens Funding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 05/28/30 (144A) | 300000 | &nbsp;&nbsp;&nbsp; 305398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 05/28/65 (144A) (b) | 200000 | &nbsp;&nbsp;&nbsp; 216851 |
|  |  | &nbsp;&nbsp;&nbsp; 522249 |
| **Oil & Gas — 1.6%** | **Oil & Gas — 1.6%** | **Oil & Gas — 1.6%** |
| BP Capital Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 5Y H15 + 1.924%, 03/18/35 (b) (c) | 1059000 | &nbsp;&nbsp;&nbsp; 1096860 |
| Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 02/15/35 | 1608000 | &nbsp;&nbsp;&nbsp; 1620834 |
| Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 03/24/31 (b) | 1189000 | &nbsp;&nbsp;&nbsp; 1104728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 04/01/35 (b) | 627000 | &nbsp;&nbsp;&nbsp; 643676 |
| Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/19/35 (144A) (b) | 432000 | &nbsp;&nbsp;&nbsp; 449980 |
| Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 01/15/35 (b) | 546000 | &nbsp;&nbsp;&nbsp; 561185 |
| HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/35 (b) | 606000 | &nbsp;&nbsp;&nbsp; 633451 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/15/34 | 638000 | &nbsp;&nbsp;&nbsp; 681269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/01/38 (b) | 736000 | &nbsp;&nbsp;&nbsp; 773459 |
| Phillips 66 Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 5Y H15 + 2.283%, 03/15/56 (c) | 667000 | &nbsp;&nbsp;&nbsp; 661751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 5Y H15 + 2.166%, 03/15/56 (b) (c) | 500000 | &nbsp;&nbsp;&nbsp; 501338 |
| Repsol E&P Capital Markets U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.204%, 09/16/30 (144A) | 563000 | &nbsp;&nbsp;&nbsp; 567075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.976%, 09/16/35 (144A) (b) | 558000 | &nbsp;&nbsp;&nbsp; 568150 |
|  |  | &nbsp;&nbsp;&nbsp; 9863756 |
| **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/21/49 (b) | 3705000 | &nbsp;&nbsp;&nbsp; 3121392 |
| Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.669%, 06/06/47 | 640000 | &nbsp;&nbsp;&nbsp; 565496 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/21/33 (b) | 139000 | &nbsp;&nbsp;&nbsp; 142217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/21/53 (b) | 2432000 | &nbsp;&nbsp;&nbsp; 2311052 |
| Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 08/14/34 (b) | 1500000 | &nbsp;&nbsp;&nbsp; 1505621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 02/27/53 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 932615 |
| Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/19/33 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 2020503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 05/19/53 (b) | 2000000 | &nbsp;&nbsp;&nbsp; 1932773 |
|  |  | &nbsp;&nbsp;&nbsp; 12531669 |

---

**BHFTI-294**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Pipelines — 1.2%** | **Pipelines — 1.2%** | **Pipelines — 1.2%** |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 11/15/29 | 1126000 | &nbsp;&nbsp;&nbsp; $1094295 |
| Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 04/15/34 (b) | 1045000 | &nbsp;&nbsp;&nbsp; 1077228 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 5Y H15 + 3.122%, 03/15/55 (c) | 500000 | &nbsp;&nbsp;&nbsp; 528995 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 09/15/35 (b) | 1008000 | &nbsp;&nbsp;&nbsp; 1010190 |
| Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 01/15/36 | 509000 | &nbsp;&nbsp;&nbsp; 515397 |
| Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/15/30 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 1003488 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.584%, 10/01/34 (b) | 707000 | &nbsp;&nbsp;&nbsp; 710800 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 11/15/34 | 1100000 | &nbsp;&nbsp;&nbsp; 1101472 |
|  |  | &nbsp;&nbsp;&nbsp; 7041865 |
| **Real Estate Investment Trusts — 2.2%** | **Real Estate Investment Trusts — 2.2%** | **Real Estate Investment Trusts — 2.2%** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 06/15/30 (b) | 750000 | &nbsp;&nbsp;&nbsp; 676000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 01/31/35 | 569000 | &nbsp;&nbsp;&nbsp; 587949 |
| Broadstone Net Lease LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/32 | 330000 | &nbsp;&nbsp;&nbsp; 328029 |
| Cousins Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/15/30 | 594000 | &nbsp;&nbsp;&nbsp; 608309 |
| Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 07/15/30 | 824000 | &nbsp;&nbsp;&nbsp; 743515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 04/15/32 (b) | 940000 | &nbsp;&nbsp;&nbsp; 901643 |
| Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/15/35 (b) | 532000 | &nbsp;&nbsp;&nbsp; 543553 |
| Highwoods Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 04/15/29 (b) | 500000 | &nbsp;&nbsp;&nbsp; 489769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.650%, 02/01/34 | 500000 | &nbsp;&nbsp;&nbsp; 567465 |
| Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/35 (b) | 412000 | &nbsp;&nbsp;&nbsp; 414718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 07/01/34 (b) | 500000 | &nbsp;&nbsp;&nbsp; 512120 |
| Kilroy Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/15/32 (b) | 500000 | &nbsp;&nbsp;&nbsp; 415439 |
| Kimco Realty OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 03/01/35 (b) | 781000 | &nbsp;&nbsp;&nbsp; 776111 |
| Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 04/15/33 (b) | 339000 | &nbsp;&nbsp;&nbsp; 299102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/01/31 | 1186000 | &nbsp;&nbsp;&nbsp; 1100565 |
| Phillips Edison Grocery Center Operating Partnership I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/32 (b) | 658000 | &nbsp;&nbsp;&nbsp; 672486 |
| Piedmont Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 08/15/30 | 750000 | &nbsp;&nbsp;&nbsp; 681553 |
| Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 07/01/30 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 894063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/31 (b) | 290000 | &nbsp;&nbsp;&nbsp; 296179 |
| Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 01/15/35 | 1511000 | &nbsp;&nbsp;&nbsp; 1530145 |
| Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.700%, 01/23/32 (144A) | 518000 | &nbsp;&nbsp;&nbsp; 559538 |
|  |  | &nbsp;&nbsp;&nbsp; 13598251 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Retail — 0.4%** | **Retail — 0.4%** | **Retail — 0.4%** |
| Alimentation Couche-Tard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 01/25/30 (144A) (b) | 447000 | &nbsp;&nbsp;&nbsp; $422221 |
| Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 04/01/31 (b) | 508000 | &nbsp;&nbsp;&nbsp; 463609 |
| Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/01/30 | 632000 | &nbsp;&nbsp;&nbsp; 555632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/33 (b) | 950000 | &nbsp;&nbsp;&nbsp; 979543 |
|  |  | &nbsp;&nbsp;&nbsp; 2421005 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.137%, 11/15/35 (144A) (b) | 935000 | &nbsp;&nbsp;&nbsp; 808930 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 01/25/33 (144A) | 315000 | &nbsp;&nbsp;&nbsp; 332163 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/15/49 | 1000000 | &nbsp;&nbsp;&nbsp; 664488 |
|  |  | &nbsp;&nbsp;&nbsp; 1805581 |
| **Software — 1.4%** | **Software — 1.4%** | **Software — 1.4%** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/11/35 (b) | 502000 | &nbsp;&nbsp;&nbsp; 507341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/21/33 | 750000 | &nbsp;&nbsp;&nbsp; 787389 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 04/01/50 | 1000000 | &nbsp;&nbsp;&nbsp; 703959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 03/25/41 (b) | 611000 | &nbsp;&nbsp;&nbsp; 489346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 09/27/34 (b) | 839000 | &nbsp;&nbsp;&nbsp; 819352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/26/32 | 759000 | &nbsp;&nbsp;&nbsp; 759913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 09/26/35 (b) | 1047000 | &nbsp;&nbsp;&nbsp; 1052765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/03/35 (b) | 772000 | &nbsp;&nbsp;&nbsp; 794161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 09/26/55 | 428000 | &nbsp;&nbsp;&nbsp; 426683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 09/26/65 (b) | 984000 | &nbsp;&nbsp;&nbsp; 982188 |
| Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 09/15/35 (b) | 979000 | &nbsp;&nbsp;&nbsp; 986900 |
|  |  | &nbsp;&nbsp;&nbsp; 8309997 |
| **Telecommunications — 1.2%** | **Telecommunications — 1.2%** | **Telecommunications — 1.2%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/41 (b) | 2658000 | &nbsp;&nbsp;&nbsp; 2124744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 09/15/55 | 1000000 | &nbsp;&nbsp;&nbsp; 689118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 03/01/39 (b) | 1000000 | &nbsp;&nbsp;&nbsp; 959345 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 03/15/52 | 1914000 | &nbsp;&nbsp;&nbsp; 1586571 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/15/30 | 559000 | &nbsp;&nbsp;&nbsp; 548149 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 03/22/51 (b) | 2187000 | &nbsp;&nbsp;&nbsp; 1603509 |
|  |  | &nbsp;&nbsp;&nbsp; 7511436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $221,439,978) <br>|  | &nbsp;&nbsp;&nbsp; 220562766 |

---

**BHFTI-295**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—0.6%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Exchange-Traded Funds — 0.6%** | **Exchange-Traded Funds — 0.6%** | **Exchange-Traded Funds — 0.6%** |
| VanEck Gold Miners ETF (b) | 44648 | &nbsp;&nbsp;&nbsp; $3411107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $3,036,267) <br>|  | &nbsp;&nbsp;&nbsp; 3411107 |
| **Preferred Stocks—0.0%** | **Preferred Stocks—0.0%** | **Preferred Stocks—0.0%** |
| **Automobiles — 0.0%** | **Automobiles — 0.0%** | **Automobiles — 0.0%** |
| Volkswagen AG | 379 | &nbsp;&nbsp;&nbsp; 40991 |
| **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** |
| Henkel AG & Co. KGaA | 862 | &nbsp;&nbsp;&nbsp; 69578 |
| **Life Sciences Tools & Services — 0.0%** | **Life Sciences Tools & Services — 0.0%** | **Life Sciences Tools & Services — 0.0%** |
| Sartorius AG | 172 | &nbsp;&nbsp;&nbsp; 40004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $162,734) <br>|  | &nbsp;&nbsp;&nbsp; 150573 |
| **Warrants—0.0%** | **Warrants—0.0%** | **Warrants—0.0%** |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Software, Inc., Expires 03/31/40 (a) <br>(Cost $0)<br>| 208 | &nbsp;&nbsp;&nbsp; 0 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—3.1%** | **Short-Term Investments—3.1%** | **Short-Term Investments—3.1%** |
| **Repurchase Agreement—3.1%** | **Repurchase Agreement—3.1%** | **Repurchase Agreement—3.1%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $18,954,201; collateralized <br> by U.S. Treasury Note at 3.750%, maturing 04/30/27, with a <br> market value of $19,331,894<br>| 18952621 | &nbsp;&nbsp;&nbsp; 18952621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $18,952,621) <br>|  | &nbsp;&nbsp;&nbsp; 18952621 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (d)—13.1%** | **Securities Lending Reinvestments (d)—13.1%** | **Securities Lending Reinvestments (d)—13.1%** |
| **Short-Term Investment Funds—0.7%** | **Short-Term Investment Funds—0.7%** | **Short-Term Investment Funds—0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares 4.020% (e)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 4000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.1%** | **Certificates of Deposit—1.1%** | **Certificates of Deposit—1.1%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/24/25 | 1000000 | &nbsp;&nbsp;&nbsp; 997280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (c) | 2000000 | &nbsp;&nbsp;&nbsp; 1999997 |
| Canadian Imperial Bank of Commerce (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 08/11/26 (c) | 1300000 | &nbsp;&nbsp;&nbsp; 1301008 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, SOFR + 0.240%, 12/03/25 (c) | 1500000 | &nbsp;&nbsp;&nbsp; 1499967 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (c) | 1000000 | &nbsp;&nbsp;&nbsp; $1000174 |
|  |  | &nbsp;&nbsp;&nbsp; 6798426 |
| **Repurchase Agreements—10.1%** | **Repurchase Agreements—10.1%** | **Repurchase Agreements—10.1%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 5.000%, maturity dates ranging from 11/30/25 - 02/15/52, <br> and an aggregate market value of $2,040,000<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $4,000,467; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,449,343<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $10,001,172; collateralized <br> by various Common Stock with an aggregate market value of <br> $11,123,358<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $2,000,237; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $2,023,082; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $2,228,029<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $4,000,464; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $4,080,002<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $4,095,671; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,400,001<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $1,200,138; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $1,224,000<br>| 1200000 | &nbsp;&nbsp;&nbsp; 1200000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $5,681,600; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $5,794,557<br>| 5680938 | &nbsp;&nbsp;&nbsp; 5680938 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $4,000,476; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,460,377<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |

---

**BHFTI-296**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (d)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $9,001,070; collateralized <br> by various Common Stock with an aggregate market value of <br> $10,035,847<br>| 9000000 | &nbsp;&nbsp;&nbsp; $9000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $3,002,508; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $3,336,564<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,300,268; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 6.750%, maturity dates ranging from 10/31/25 - 05/15/55, <br> and an aggregate market value of $2,346,274<br>| 2300000 | &nbsp;&nbsp;&nbsp; 2300000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $1,300,148; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $1,326,000<br>| 1300000 | &nbsp;&nbsp;&nbsp; 1300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $5,000,592; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,562,210<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,900,221; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,090,243<br>| 1900000 | &nbsp;&nbsp;&nbsp; 1900000 |
|  |  | &nbsp;&nbsp;&nbsp; 61380938 |
| **Time Deposits—1.2%** | **Time Deposits—1.2%** | **Time Deposits—1.2%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 7000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $79,178,149) <br>|  | &nbsp;&nbsp;&nbsp; 79179364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—111.2% <br>(Cost $579,754,433) <br>|  | &nbsp;&nbsp;&nbsp; 672739057 |
| Other assets and liabilities (net)—(11.2)%  |  | &nbsp;&nbsp;&nbsp; (67599428)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $605139629 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $97,340,092 and the collateral received consisted of cash in the amount of $79,170,753 and non-cash collateral with a value of $21,715,038. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third- party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

(d) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(e) The rate shown represents the annualized seven-day yield as of September 30, 2025.

(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025, the market value of 144A securities was $42,131,036, which is 7.0% of net assets. 

**Investments in Derivative Instruments**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement** <br>**Date**<br>| **In Exchange** <br>**for** | **In Exchange** <br>**for** | **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| AUD | &nbsp;&nbsp; 3690000 | GSI | 10/22/25 | USD | 2431950 | &nbsp;&nbsp; $10434 |
| BRL | &nbsp;&nbsp; 32369000 | CBNA | 10/02/25 | USD | 6118904 | &nbsp;&nbsp; (37077)<br>|
| BRL | &nbsp;&nbsp; 32560000 | CBNA | 10/02/25 | USD | 6011817 | &nbsp;&nbsp; 105897 |
| BRL | &nbsp;&nbsp; 64929000 | CBNA | 11/04/25 | USD | 12129460 | &nbsp;&nbsp; (27721)<br>|
| CAD | &nbsp;&nbsp; 1106181 | GSI | 10/22/25 | USD | 800130 | &nbsp;&nbsp; (4487)<br>|
| CHF | &nbsp;&nbsp; 13902000 | JPMC | 10/22/25 | USD | 17584821 | &nbsp;&nbsp; (78808)<br>|
| CHF | &nbsp;&nbsp; 1458000 | JPMC | 10/22/25 | USD | 1844243 | &nbsp;&nbsp; (8265)<br>|
| CNH | &nbsp;&nbsp; 42695000 | UBSA | 10/22/25 | USD | 5989514 | &nbsp;&nbsp; 5492 |

---

**BHFTI-297**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Forward Foreign Currency Exchange Contracts — (Continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy**  | **Contracts to Buy**  | **Counterparty**  | **Settlement**<br> **Date**<br>| **In Exchange**<br> **for** | **In Exchange**<br> **for** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>|
| DKK | &nbsp;&nbsp; 4585000 | GSI | 10/22/25 | USD | 725435 | &nbsp;&nbsp; $(3284)<br>|
| EUR | &nbsp;&nbsp; 15269000 | JPMC | 10/22/25 | USD | 18050599 | &nbsp;&nbsp; (102186)<br>|
| EUR | &nbsp;&nbsp; 2759103 | JPMC | 10/22/25 | USD | 3261737 | &nbsp;&nbsp; (18465)<br>|
| EUR | &nbsp;&nbsp; 5157957 | MSIP | 10/02/25 | USD | 6084856 | &nbsp;&nbsp; (29154)<br>|
| GBP | &nbsp;&nbsp; 2425161 | UBSA | 10/22/25 | USD | 3276191 | &nbsp;&nbsp; (14228)<br>|
| JPY | &nbsp;&nbsp; 464571344 | JPMC | 10/22/25 | USD | 3155900 | &nbsp;&nbsp; (7841)<br>|
| KRW | &nbsp;&nbsp; 8238002000 | CBNA | 10/27/25 | USD | 5954723 | &nbsp;&nbsp; (76272)<br>|
| NOK | &nbsp;&nbsp; 2079000 | GSI | 10/22/25 | USD | 209896 | &nbsp;&nbsp; (1542)<br>|
| SEK | &nbsp;&nbsp; 15641000 | GSI | 10/22/25 | USD | 1677054 | &nbsp;&nbsp; (13477)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** |  |  |  |  |  |
| BRL | &nbsp;&nbsp; 32369000 | CBNA | 10/02/25 | USD | 6093676 | &nbsp;&nbsp; 11850 |
| BRL | &nbsp;&nbsp; 32560000 | CBNA | 10/02/25 | USD | 6129633 | &nbsp;&nbsp; 11920 |
| CNH | &nbsp;&nbsp; 42695000 | UBSA | 10/22/25 | USD | 6012427 | &nbsp;&nbsp; 17421 |
| EUR | &nbsp;&nbsp; 5157957 | CBNA | 10/02/25 | USD | 6050000 | &nbsp;&nbsp; (5703)<br>|
| EUR | &nbsp;&nbsp; 10285957 | MSIP | 10/22/25 | USD | 12149157 | &nbsp;&nbsp; 58214 |
| HKD | &nbsp;&nbsp; 5573000 | JPMC | 10/22/25 | USD | 717112 | &nbsp;&nbsp; 642 |
| JPY | &nbsp;&nbsp; 2364723000 | JPMC | 10/22/25 | USD | 16065834 | &nbsp;&nbsp; 41839 |
| KRW | &nbsp;&nbsp; 8238002000 | GSI | 10/27/25 | USD | 5854596 | &nbsp;&nbsp; (23855)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Cross Currency** <br> **Contracts to Buy** | **Cross Currency** <br> **Contracts to Buy** |  |  |  |  |  |
| CHF | &nbsp;&nbsp; 7183436 | UBSA | 10/22/25 | EUR | 7695000 | &nbsp;&nbsp; 377 |
| JPY | &nbsp;&nbsp; 2366512667 | JPMC | 10/22/25 | CHF | 12691042 | &nbsp;&nbsp; 55001 |
| NZD | &nbsp;&nbsp; 10123000 | MSIP | 10/22/25 | AUD | 8993322 | &nbsp;&nbsp; (79344)<br>|
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp; $(212622)<br>|

---

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| Bloomberg U.S. Corporate Investment Grade Index Futures | &nbsp;&nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp;&nbsp; 183 | USD | 19448325 | &nbsp;&nbsp;&nbsp; $7582 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 137 | EUR | 7591170 | &nbsp;&nbsp;&nbsp; 253533 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 44 | GBP | 4139300 | &nbsp;&nbsp;&nbsp; 49493 |
| Hang Seng Index Futures | &nbsp;&nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp;&nbsp; 36 | HKD | 48441600 | &nbsp;&nbsp;&nbsp; 164466 |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 55 | USD | 3739175 | &nbsp;&nbsp;&nbsp; 78807 |
| MSCI World Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 159 | USD | 21989700 | &nbsp;&nbsp;&nbsp; (13365)<br>|
| Nikkei 225 Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; 18 | JPY | 809820000 | &nbsp;&nbsp;&nbsp; 193406 |
| SPI 200 Index Futures | &nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp; 19 | AUD | 4214675 | &nbsp;&nbsp;&nbsp; (3486)<br>|
| TOPIX Index Futures | &nbsp;&nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp;&nbsp; 9 | JPY | 282690000 | &nbsp;&nbsp;&nbsp; 17486 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 119 | USD | 13874656 | &nbsp;&nbsp;&nbsp; 211557 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 20 | USD | 2401250 | &nbsp;&nbsp;&nbsp; 49243 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| S&P 500 Index E-Mini Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (67)<br>| USD | (22574813)<br>| &nbsp;&nbsp;&nbsp; (444442)<br>|
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (26)<br>| USD | (5418359)<br>| &nbsp;&nbsp;&nbsp; 757 |
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (63)<br>| USD | (6879305)<br>| &nbsp;&nbsp;&nbsp; 13054 |
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (515)<br>| USD | (57937500)<br>| &nbsp;&nbsp;&nbsp; (124474)<br>|
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (11)<br>| USD | (1265859)<br>| &nbsp;&nbsp;&nbsp; 871 |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $454488 |

---

**BHFTI-298**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Centrally Cleared Interest Rate Swap Contracts** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive** <br>**Floating Rate** <br>| **Floating** <br>**Rate Index** <br>| **Payment** <br>**Frequency** <br>| **Fixed** <br>**Rate** <br>| **Payment** <br>**Frequency** <br>| **Maturity** <br>**Date** <br>| **Notional** <br>**Amount**  | **Notional** <br>**Amount**  | **Market** <br>**Value** <br>| **Upfront** <br>**Premiums** <br>**Paid/(Received)** <br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>|
| Pay | 3M SOFR | Quarterly | 3.740<br> %<br>| Quarterly | 07/24/35 | USD | 165000000 | &nbsp;&nbsp; $1955157 | &nbsp;&nbsp; $206525 | &nbsp;&nbsp; $1748632 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp; $7841758 | &nbsp;&nbsp;&nbsp; $1725047 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $9566805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp;&nbsp; 258263 | &nbsp;&nbsp;&nbsp; 168768 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 427031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp; 68631 | &nbsp;&nbsp;&nbsp; 168420 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 237051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp;&nbsp; 4607848 | &nbsp;&nbsp;&nbsp; 1291897 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5899745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp; 11942171 | &nbsp;&nbsp;&nbsp; 10053705 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21995876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp; 3229223 | &nbsp;&nbsp;&nbsp; 511083 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3740306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp; 3808995 | &nbsp;&nbsp;&nbsp; 291155 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4100150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp; 11280981 | &nbsp;&nbsp;&nbsp; 834519 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12115500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp; 1168750 | &nbsp;&nbsp;&nbsp; 641273 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1810023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp; 10179768 | &nbsp;&nbsp;&nbsp; 1926113 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12105881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp; 3239132 | &nbsp;&nbsp;&nbsp; 1149895 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4389027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp; 2906869 | &nbsp;&nbsp;&nbsp; 244457 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3151326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp; 3869535 | &nbsp;&nbsp;&nbsp; 226905 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4096440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp; 686050 | &nbsp;&nbsp;&nbsp; 1092169 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1778219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp; 758356 | &nbsp;&nbsp;&nbsp; 671943 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1430299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp; 2464505 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2464505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp; 5064418 | &nbsp;&nbsp;&nbsp; 854298 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5918716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp; 271046 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 271046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp; 48180 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 48180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified REITs | &nbsp;&nbsp;&nbsp; 45948 | &nbsp;&nbsp;&nbsp; 165111 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 211059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp; 1648151 | &nbsp;&nbsp;&nbsp; 1980341 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3628492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp; 3479513 | &nbsp;&nbsp;&nbsp; 1470940 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4950453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp; 4405104 | &nbsp;&nbsp;&nbsp; 3160523 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7565627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp; 2907886 | &nbsp;&nbsp;&nbsp; 593648 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3501534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp; 294248 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 294248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp; 6616454 | &nbsp;&nbsp;&nbsp; 473005 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7089459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp; 10051899 | &nbsp;&nbsp;&nbsp; 265236 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10317135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp; 611804 | &nbsp;&nbsp;&nbsp; 1127260 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1739064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas Utilities | &nbsp;&nbsp;&nbsp; 253735 | &nbsp;&nbsp;&nbsp; 441360 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 695095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp; 2561851 | &nbsp;&nbsp;&nbsp; 142077 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2703928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp; 6610206 | &nbsp;&nbsp;&nbsp; 906734 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7516940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp; 5515278 | &nbsp;&nbsp;&nbsp; 46228 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5561506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care REITs | &nbsp;&nbsp;&nbsp; 1995263 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1995263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp;&nbsp; 628590 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 628590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp; 4472099 | &nbsp;&nbsp;&nbsp; 775194 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5247293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp;&nbsp; 1105369 | &nbsp;&nbsp;&nbsp; 713129 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1818498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp; 3490423 | &nbsp;&nbsp;&nbsp; 149591 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3640014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp;&nbsp; 206303 | &nbsp;&nbsp;&nbsp; 128224 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 334527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp;&nbsp; 580280 | &nbsp;&nbsp;&nbsp; 1702856 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2283136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp;&nbsp; 428076 | &nbsp;&nbsp;&nbsp; 44112 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 472188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 4707512 | &nbsp;&nbsp;&nbsp; 4000040 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8707552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; 22692402 | &nbsp;&nbsp;&nbsp; 182761 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22875163 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 4897682 | &nbsp;&nbsp;&nbsp; 305325 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5203007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22724 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp; 1926942 | &nbsp;&nbsp;&nbsp; 65100 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1992042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 3766887 | &nbsp;&nbsp;&nbsp; 1764673 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5531560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marine Transportation | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 93005 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 93005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; 536816 | &nbsp;&nbsp;&nbsp; 47034 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 583850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp; 2650488 | &nbsp;&nbsp;&nbsp; 1316250 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3966738 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp; 1236195 | &nbsp;&nbsp;&nbsp; 794570 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2030765 |
| &nbsp;&nbsp;&nbsp;&nbsp; Office REITs | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39629 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 7022064 | &nbsp;&nbsp;&nbsp; 3053417 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10075481 |

---

**BHFTI-299**

------

**Brighthouse Funds Trust I**

**Schroders Global Multi-Asset Portfolio**

**Consolidated Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Paper & Forest Products | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $64845 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $64845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp; 406137 | &nbsp;&nbsp;&nbsp; 1012803 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1418940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; 7093791 | &nbsp;&nbsp;&nbsp; 4731219 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11825010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp; 1166626 | &nbsp;&nbsp;&nbsp; 984004 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2150630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp; 664618 | &nbsp;&nbsp;&nbsp; 286841 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 951459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | &nbsp;&nbsp;&nbsp; 59243 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 59243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp;&nbsp; 800932 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 800932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 38385469 | &nbsp;&nbsp;&nbsp; 2211142 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40596611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 31456302 | &nbsp;&nbsp;&nbsp; 1283458 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 32739760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; 1267526 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1267526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; 5096284 | &nbsp;&nbsp;&nbsp; 445112 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5541396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp; 16560034 | &nbsp;&nbsp;&nbsp; 319139 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16879173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp; 859980 | &nbsp;&nbsp;&nbsp; 1211139 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2071119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp; 422003 | &nbsp;&nbsp;&nbsp; 246127 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 668130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp;&nbsp; 1151406 | &nbsp;&nbsp;&nbsp; 1534036 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2685442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation Infrastructure | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 177381 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 177381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Water Utilities | &nbsp;&nbsp;&nbsp; 43427 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 43427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp; 857938 | &nbsp;&nbsp;&nbsp; 821973 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1679911 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 287331663 | &nbsp;&nbsp;&nbsp; 63150963 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 350482626 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 220562766 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 220562766 |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; 3411107 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3411107 |
| Total Preferred Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 150573 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 150573 |
| Total Warrants\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18952621 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18952621 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6798426 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6798426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 61380938 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 61380938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 75179364 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 79179364 |
| Total Investments | &nbsp;&nbsp;&nbsp; $294742770 | &nbsp;&nbsp;&nbsp; $377996287 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $672739057 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(79170753)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(79170753)<br>|
| Forward Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $319087 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $319087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (531709)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (531709)<br>|
| Total Forward Contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(212622)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(212622)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $1040255 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1040255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (585767)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (585767)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $454488 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $454488 |
| Centrally Cleared Swap Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Swap Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1748632 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1748632 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Consolidated Schedule of Investments for additional detailed categorizations.

**BHFTI-300**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—96.5% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Brazil — 3.1%** | **Brazil — 3.1%** | **Brazil — 3.1%** |
| Ambev SA (ADR) (a) | 1027300 | &nbsp;&nbsp;&nbsp; $2290879 |
| B3 SA - Brasil Bolsa Balcao | 1404400 | &nbsp;&nbsp;&nbsp; 3535903 |
| Banco Bradesco SA | 324300 | &nbsp;&nbsp;&nbsp; 928008 |
| Cia De Sanena Do Parana | 156600 | &nbsp;&nbsp;&nbsp; 1090146 |
| Cia Energetica de Minas Gerais (ADR) | 27600 | &nbsp;&nbsp;&nbsp; 58236 |
| Cogna Educacao SA | 513300 | &nbsp;&nbsp;&nbsp; 322123 |
| Embraer SA | 48400 | &nbsp;&nbsp;&nbsp; 730149 |
| Itau Unibanco Holding SA | 59070 | &nbsp;&nbsp;&nbsp; 384569 |
| Itau Unibanco Holding SA (ADR) | 818340 | &nbsp;&nbsp;&nbsp; 6006615 |
| Lojas Renner SA | 341000 | &nbsp;&nbsp;&nbsp; 969389 |
| NU Holdings Ltd. - Class A (b) | 254200 | &nbsp;&nbsp;&nbsp; 4069742 |
| Petroleo Brasileiro SA - Petrobras | 120700 | &nbsp;&nbsp;&nbsp; 766076 |
| Petroleo Brasileiro SA - Petrobras (ADR) (a) | 55000 | &nbsp;&nbsp;&nbsp; 696300 |
| Rede D'Or Sao Luiz SA | 384200 | &nbsp;&nbsp;&nbsp; 3037651 |
| Telefonica Brasil SA | 475000 | &nbsp;&nbsp;&nbsp; 3040678 |
| TIM SA | 634700 | &nbsp;&nbsp;&nbsp; 2802471 |
| Vale SA | 233500 | &nbsp;&nbsp;&nbsp; 2526174 |
| Vale SA (ADR) | 186800 | &nbsp;&nbsp;&nbsp; 2028648 |
| Vibra Energia SA | 206200 | &nbsp;&nbsp;&nbsp; 952691 |
| Vulcabras SA | 45800 | &nbsp;&nbsp;&nbsp; 169354 |
| YDUQS Participacoes SA | 43300 | &nbsp;&nbsp;&nbsp; 105113 |
|  |  | &nbsp;&nbsp;&nbsp; 36510915 |
| **Chile — 0.2%** | **Chile — 0.2%** | **Chile — 0.2%** |
| Cencosud SA | 576331 | &nbsp;&nbsp;&nbsp; 1639501 |
| Enel Chile SA | 6509336 | &nbsp;&nbsp;&nbsp; 503723 |
|  |  | &nbsp;&nbsp;&nbsp; 2143224 |
| **China — 30.1%** | **China — 30.1%** | **China — 30.1%** |
| 3SBio, Inc. (a) | 519000 | &nbsp;&nbsp;&nbsp; 2006324 |
| AAC Technologies Holdings, Inc.  | 353500 | &nbsp;&nbsp;&nbsp; 2081554 |
| Agricultural Bank of China Ltd. - Class H | 354000 | &nbsp;&nbsp;&nbsp; 238540 |
| Akeso, Inc. (b) | 10000 | &nbsp;&nbsp;&nbsp; 182234 |
| Alibaba Group Holding Ltd.  | 2142000 | &nbsp;&nbsp;&nbsp; 48014594 |
| Alibaba Health Information Technology Ltd. (b) | 1382000 | &nbsp;&nbsp;&nbsp; 1184438 |
| Alphamab Oncology (b) | 309000 | &nbsp;&nbsp;&nbsp; 544637 |
| Aluminum Corp. of China Ltd. - Class H | 138000 | &nbsp;&nbsp;&nbsp; 143573 |
| ANE Cayman, Inc. (c) (d) | 344500 | &nbsp;&nbsp;&nbsp; 448889 |
| Anhui Anfu Battery Technology Co. Ltd. - Class A | 51200 | &nbsp;&nbsp;&nbsp; 309041 |
| Anhui Conch Cement Co. Ltd. - Class H | 442001 | &nbsp;&nbsp;&nbsp; 1337182 |
| Anker Innovations Technology Co. Ltd. - Class A | 50620 | &nbsp;&nbsp;&nbsp; 862877 |
| ANTA Sports Products Ltd.  | 258600 | &nbsp;&nbsp;&nbsp; 3108961 |
| Baidu, Inc. - Class A (b) | 240400 | &nbsp;&nbsp;&nbsp; 3984383 |
| Bank of Changsha Co. Ltd. - Class A | 479900 | &nbsp;&nbsp;&nbsp; 595228 |
| Bank of China Ltd. - Class H | 4221000 | &nbsp;&nbsp;&nbsp; 2313019 |
| Bank of Guiyang Co. Ltd. - Class A | 1272500 | &nbsp;&nbsp;&nbsp; 1029670 |
| Bank of Jiangsu Co. Ltd. - Class A | 435500 | &nbsp;&nbsp;&nbsp; 613383 |
| Bank of Ningbo Co. Ltd. - Class A | 85400 | &nbsp;&nbsp;&nbsp; 317105 |
| Baoshan Iron & Steel Co. Ltd. - Class A | 158500 | &nbsp;&nbsp;&nbsp; 157532 |
| Beijing Enterprises Holdings Ltd.  | 99000 | &nbsp;&nbsp;&nbsp; 423731 |
| Beijing Jingneng Clean Energy Co. Ltd. - Class H | 1282000 | &nbsp;&nbsp;&nbsp; 417209 |
| Beijing Jingneng Power Co. Ltd. - Class A | 1734600 | &nbsp;&nbsp;&nbsp; 1005616 |
| BeOne Medicines Ltd. - Class A (b) | 26676 | &nbsp;&nbsp;&nbsp; 1144233 |
| BeOne Medicines Ltd. - Class H (b) | 132800 | &nbsp;&nbsp;&nbsp; 3507063 |
| Bilibili, Inc. - Class Z (a) (b) | 21920 | &nbsp;&nbsp;&nbsp; 621459 |
| Binjiang Service Group Co. Ltd.  | 35500 | &nbsp;&nbsp;&nbsp; 114047 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **China — (Continued)** | **China — (Continued)** | **China — (Continued)** |
| BOC Aviation Ltd.  | 214500 | &nbsp;&nbsp;&nbsp; $1921392 |
| BYD Co. Ltd. - Class A | 31700 | &nbsp;&nbsp;&nbsp; 486273 |
| BYD Co. Ltd. - Class H (a) | 450800 | &nbsp;&nbsp;&nbsp; 6393158 |
| CGN New Energy Holdings Co. Ltd.  | 2152000 | &nbsp;&nbsp;&nbsp; 819074 |
| Chervon Holdings Ltd.  | 61100 | &nbsp;&nbsp;&nbsp; 167236 |
| China CITIC Bank Corp. Ltd. - Class A | 130200 | &nbsp;&nbsp;&nbsp; 131700 |
| China Conch Venture Holdings Ltd.  | 654500 | &nbsp;&nbsp;&nbsp; 922193 |
| China Construction Bank Corp. - Class A | 200700 | &nbsp;&nbsp;&nbsp; 242784 |
| China Construction Bank Corp. - Class H | 9718000 | &nbsp;&nbsp;&nbsp; 9352119 |
| China East Education Holdings Ltd. (a) | 995500 | &nbsp;&nbsp;&nbsp; 977351 |
| China Feihe Ltd.  | 1318000 | &nbsp;&nbsp;&nbsp; 677914 |
| China Foods Ltd.  | 466000 | &nbsp;&nbsp;&nbsp; 264253 |
| China Hongqiao Group Ltd. (a) | 1036500 | &nbsp;&nbsp;&nbsp; 3524676 |
| China International Marine Containers Group Co. Ltd. - Class A | 173850 | &nbsp;&nbsp;&nbsp; 202562 |
| China Life Insurance Co. Ltd. - Class H | 158000 | &nbsp;&nbsp;&nbsp; 450233 |
| China Merchants Bank Co. Ltd. - Class A | 332100 | &nbsp;&nbsp;&nbsp; 1885838 |
| China Merchants Bank Co. Ltd. - Class H | 760500 | &nbsp;&nbsp;&nbsp; 4575227 |
| China Merchants Port Group Co. Ltd. - Class A | 63400 | &nbsp;&nbsp;&nbsp; 178248 |
| China National Building Material Co. Ltd. - Class H | 3426000 | &nbsp;&nbsp;&nbsp; 2435125 |
| China Nonferrous Mining Corp. Ltd.  | 148000 | &nbsp;&nbsp;&nbsp; 285499 |
| China Pacific Insurance Group Co. Ltd. - Class A | 61000 | &nbsp;&nbsp;&nbsp; 301271 |
| China Pacific Insurance Group Co. Ltd. - Class H | 903200 | &nbsp;&nbsp;&nbsp; 3590349 |
| China Petroleum & Chemical Corp. - Class H | 192000 | &nbsp;&nbsp;&nbsp; 100080 |
| China Reinsurance Group Corp. - Class H | 6033000 | &nbsp;&nbsp;&nbsp; 1202896 |
| China Resources Land Ltd.  | 954500 | &nbsp;&nbsp;&nbsp; 3731636 |
| China Tower Corp. Ltd. - Class H | 395600 | &nbsp;&nbsp;&nbsp; 584037 |
| China Water Affairs Group Ltd.  | 230000 | &nbsp;&nbsp;&nbsp; 175267 |
| CITIC Ltd.  | 107000 | &nbsp;&nbsp;&nbsp; 157245 |
| CITIC Securities Co. Ltd. - Class H | 198500 | &nbsp;&nbsp;&nbsp; 785490 |
| CMOC Group Ltd. - Class A | 524200 | &nbsp;&nbsp;&nbsp; 1156939 |
| CMOC Group Ltd. - Class H | 1728000 | &nbsp;&nbsp;&nbsp; 3493258 |
| Contemporary Amperex Technology Co. Ltd. - Class A | 47420 | &nbsp;&nbsp;&nbsp; 2681711 |
| COSCO SHIPPING Holdings Co. Ltd. - Class A | 338890 | &nbsp;&nbsp;&nbsp; 682608 |
| COSCO SHIPPING Holdings Co. Ltd. - Class H (a) | 943700 | &nbsp;&nbsp;&nbsp; 1467646 |
| CSPC Pharmaceutical Group Ltd.  | 1436000 | &nbsp;&nbsp;&nbsp; 1732092 |
| Dongyue Group Ltd.  | 113000 | &nbsp;&nbsp;&nbsp; 176360 |
| Eastern Air Logistics Co. Ltd. - Class A | 160800 | &nbsp;&nbsp;&nbsp; 355758 |
| Far East Horizon Ltd.  | 681000 | &nbsp;&nbsp;&nbsp; 601200 |
| Foxconn Industrial Internet Co. Ltd. - Class A | 64300 | &nbsp;&nbsp;&nbsp; 601284 |
| Fufeng Group Ltd.  | 857000 | &nbsp;&nbsp;&nbsp; 965736 |
| Fuyao Glass Industry Group Co. Ltd. - Class H | 63600 | &nbsp;&nbsp;&nbsp; 640333 |
| Gansu Shangfeng Cement Co. Ltd. - Class A | 941800 | &nbsp;&nbsp;&nbsp; 1455942 |
| Gdh Supertime Group Co. Ltd. - Class A | 652500 | &nbsp;&nbsp;&nbsp; 1037576 |
| Geely Automobile Holdings Ltd.  | 1707000 | &nbsp;&nbsp;&nbsp; 4291908 |
| GEPIC Energy Development Co. Ltd. - Class A | 1225200 | &nbsp;&nbsp;&nbsp; 1107341 |
| Goldcup Electric Apparatus Co. Ltd. - Class A | 496600 | &nbsp;&nbsp;&nbsp; 819922 |
| Goldwind Science & Technology Co. Ltd. - Class H | 214800 | &nbsp;&nbsp;&nbsp; 388471 |
| Great Wall Motor Co. Ltd. - Class H | 232500 | &nbsp;&nbsp;&nbsp; 502089 |
| Gree Electric Appliances, Inc. of Zhuhai - Class A | 123400 | &nbsp;&nbsp;&nbsp; 688060 |
| Guangdong Investment Ltd.  | 2828000 | &nbsp;&nbsp;&nbsp; 2569271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Provincial Expressway Development Co. Ltd. - <br> Class A<br>| 140220 | &nbsp;&nbsp;&nbsp; 214511 |
| Guodian Nanjing Automation Co. Ltd. - Class A | 378060 | &nbsp;&nbsp;&nbsp; 542935 |
| H World Group Ltd. (ADR) | 11700 | &nbsp;&nbsp;&nbsp; 457587 |
| Haier Smart Home Co. Ltd. - Class A | 139400 | &nbsp;&nbsp;&nbsp; 494776 |
| Haier Smart Home Co. Ltd. - Class H (a) | 391000 | &nbsp;&nbsp;&nbsp; 1276001 |

---

**BHFTI-301**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **China — (Continued)** | **China — (Continued)** | **China — (Continued)** |
| Hansoh Pharmaceutical Group Co. Ltd.  | 128000 | &nbsp;&nbsp;&nbsp; $594135 |
| Harbin Electric Co. Ltd. - Class H | 738000 | &nbsp;&nbsp;&nbsp; 1116919 |
| Hengan International Group Co. Ltd.  | 460500 | &nbsp;&nbsp;&nbsp; 1504429 |
| Hisense Visual Technology Co. Ltd. - Class A | 106100 | &nbsp;&nbsp;&nbsp; 359483 |
| Huadong Medicine Co. Ltd. - Class A | 40000 | &nbsp;&nbsp;&nbsp; 232958 |
| Huaneng Power International, Inc. - Class H | 2774000 | &nbsp;&nbsp;&nbsp; 1930532 |
| Industrial & Commercial Bank of China Ltd. - Class H | 5866000 | &nbsp;&nbsp;&nbsp; 4331079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Junzheng Energy & Chemical Industry Group Co. <br> Ltd. - Class A<br>| 505800 | &nbsp;&nbsp;&nbsp; 371350 |
| Innovent Biologics, Inc. (b) | 24500 | &nbsp;&nbsp;&nbsp; 305096 |
| JD Logistics, Inc. (b) | 204300 | &nbsp;&nbsp;&nbsp; 345254 |
| JD.com, Inc. - Class A | 372704 | &nbsp;&nbsp;&nbsp; 6513837 |
| Jiangsu Linyang Energy Co. Ltd. - Class A | 35400 | &nbsp;&nbsp;&nbsp; 30532 |
| Jiangxi Ganyue Expressway Co. Ltd. - Class A | 299300 | &nbsp;&nbsp;&nbsp; 204038 |
| JNBY Design Ltd.  | 399000 | &nbsp;&nbsp;&nbsp; 940252 |
| Jointo Energy Investment Co. Ltd. Hebei - Class A | 497000 | &nbsp;&nbsp;&nbsp; 515227 |
| Kingfa Sci & Tech Co. Ltd. - Class A | 300400 | &nbsp;&nbsp;&nbsp; 882012 |
| Kingsoft Corp. Ltd.  | 302000 | &nbsp;&nbsp;&nbsp; 1346473 |
| Kuaishou Technology | 340500 | &nbsp;&nbsp;&nbsp; 3707560 |
| Kweichow Moutai Co. Ltd. - Class A | 1200 | &nbsp;&nbsp;&nbsp; 243444 |
| Lenovo Group Ltd.  | 2316000 | &nbsp;&nbsp;&nbsp; 3443507 |
| Lonking Holdings Ltd.  | 858000 | &nbsp;&nbsp;&nbsp; 328868 |
| Meituan - Class B (a) (b) | 465010 | &nbsp;&nbsp;&nbsp; 6222268 |
| Midea Group Co. Ltd. - Class A | 29717 | &nbsp;&nbsp;&nbsp; 303459 |
| MMG Ltd. (b) | 476000 | &nbsp;&nbsp;&nbsp; 413673 |
| Muyuan Foods Co. Ltd. - Class A | 125200 | &nbsp;&nbsp;&nbsp; 932023 |
| MYS Group Co. Ltd. - Class A | 445600 | &nbsp;&nbsp;&nbsp; 282275 |
| NetEase, Inc.  | 228400 | &nbsp;&nbsp;&nbsp; 6944221 |
| Newborn Town, Inc. (b) | 138000 | &nbsp;&nbsp;&nbsp; 231823 |
| PDD Holdings, Inc. (ADR) (b) | 63000 | &nbsp;&nbsp;&nbsp; 8326710 |
| People's Insurance Co. Group of China Ltd. - Class H | 2785000 | &nbsp;&nbsp;&nbsp; 2434173 |
| PetroChina Co. Ltd. - Class H | 5050000 | &nbsp;&nbsp;&nbsp; 4594923 |
| PICC Property & Casualty Co. Ltd. - Class H | 1424000 | &nbsp;&nbsp;&nbsp; 3220286 |
| Ping An Insurance Group Co. of China Ltd. - Class A | 266500 | &nbsp;&nbsp;&nbsp; 2063084 |
| Ping An Insurance Group Co. of China Ltd. - Class H (a) | 1099000 | &nbsp;&nbsp;&nbsp; 7478573 |
| Pop Mart International Group Ltd.  | 85800 | &nbsp;&nbsp;&nbsp; 2933938 |
| Qfin Holdings, Inc. (ADR) | 56400 | &nbsp;&nbsp;&nbsp; 1623192 |
| Qingdao Gon Technology Co. Ltd. - Class A | 36400 | &nbsp;&nbsp;&nbsp; 251465 |
| SAIC Motor Corp. Ltd. - Class A | 234000 | &nbsp;&nbsp;&nbsp; 563411 |
| Satellite Chemical Co. Ltd. - Class A | 180400 | &nbsp;&nbsp;&nbsp; 490858 |
| SF Holding Co. Ltd. - Class A | 77200 | &nbsp;&nbsp;&nbsp; 437915 |
| Shandong Bohui Paper Industrial Co. Ltd. - Class A | 235700 | &nbsp;&nbsp;&nbsp; 164215 |
| Shandong Nanshan Aluminum Co. Ltd. - Class A | 779300 | &nbsp;&nbsp;&nbsp; 433792 |
| Shandong Sun Paper Industry JSC Ltd. - Class A | 77525 | &nbsp;&nbsp;&nbsp; 155620 |
| Shandong Weigao Group Medical Polymer Co. Ltd. - Class H | 898000 | &nbsp;&nbsp;&nbsp; 671370 |
| Shanghai Bailian Group Co. Ltd. - Class A | 387000 | &nbsp;&nbsp;&nbsp; 488509 |
| Shanghai Zhenhua Heavy Industries Co. Ltd. - Class A | 1790920 | &nbsp;&nbsp;&nbsp; 1124923 |
| Shanghai Zhonggu Logistics Co. Ltd. - Class A | 150800 | &nbsp;&nbsp;&nbsp; 230721 |
| Shenzhen Desay Battery Technology Co. - Class A | 306500 | &nbsp;&nbsp;&nbsp; 1201523 |
| Shenzhen International Holdings Ltd.  | 275500 | &nbsp;&nbsp;&nbsp; 276735 |
| Sinopec Engineering Group Co. Ltd. - Class H | 662000 | &nbsp;&nbsp;&nbsp; 574857 |
| Sinotruk Hong Kong Ltd.  | 313000 | &nbsp;&nbsp;&nbsp; 922500 |
| SITC International Holdings Co. Ltd.  | 128000 | &nbsp;&nbsp;&nbsp; 493100 |
| Star Lake Bioscience Co., Inc. Zhaoqing Guangdong - Class A | 997861 | &nbsp;&nbsp;&nbsp; 1064221 |
| Sumec Corp. Ltd. - Class A | 295400 | &nbsp;&nbsp;&nbsp; 435072 |
| Sunny Optical Technology Group Co. Ltd.  | 44500 | &nbsp;&nbsp;&nbsp; 519773 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **China — (Continued)** | **China — (Continued)** | **China — (Continued)** |
| Tencent Holdings Ltd. (a) | 789300 | &nbsp;&nbsp;&nbsp; $67245039 |
| Tencent Music Entertainment Group (ADR) | 89000 | &nbsp;&nbsp;&nbsp; 2077260 |
| Tian Di Science & Technology Co. Ltd. - Class A | 164200 | &nbsp;&nbsp;&nbsp; 136874 |
| Tianli International Holdings Ltd. (a) | 169000 | &nbsp;&nbsp;&nbsp; 61025 |
| Tianshan Aluminum Group Co. Ltd. - Class A | 369200 | &nbsp;&nbsp;&nbsp; 599087 |
| Tingyi Cayman Islands Holding Corp.  | 245876 | &nbsp;&nbsp;&nbsp; 330051 |
| Trip.com Group Ltd.  | 56150 | &nbsp;&nbsp;&nbsp; 4256700 |
| Vipshop Holdings Ltd. (ADR) | 34000 | &nbsp;&nbsp;&nbsp; 667760 |
| Want Want China Holdings Ltd.  | 731000 | &nbsp;&nbsp;&nbsp; 496931 |
| Weichai Power Co. Ltd. - Class A | 131600 | &nbsp;&nbsp;&nbsp; 258917 |
| Western Mining Co. Ltd. - Class A | 121400 | &nbsp;&nbsp;&nbsp; 373934 |
| Wuchan Zhongda Group Co. Ltd. - Class A | 812000 | &nbsp;&nbsp;&nbsp; 684202 |
| WuXi AppTec Co. Ltd. - Class A | 67091 | &nbsp;&nbsp;&nbsp; 1049745 |
| WuXi AppTec Co. Ltd. - Class H (a) | 205800 | &nbsp;&nbsp;&nbsp; 3146614 |
| Wuxi Biologics Cayman, Inc. (b) | 364500 | &nbsp;&nbsp;&nbsp; 1922741 |
| Xiaomi Corp. - Class B (b) | 2322200 | &nbsp;&nbsp;&nbsp; 16169169 |
| Xinfengming Group Co. Ltd. - Class A | 124900 | &nbsp;&nbsp;&nbsp; 284934 |
| Xinhua Winshare Publishing & Media Co. Ltd. - Class A | 242000 | &nbsp;&nbsp;&nbsp; 496623 |
| XPeng, Inc. - Class A (b) | 91000 | &nbsp;&nbsp;&nbsp; 1072521 |
| Xtep International Holdings Ltd.  | 1576056 | &nbsp;&nbsp;&nbsp; 1183923 |
| Yifeng Pharmacy Chain Co. Ltd. - Class A | 95700 | &nbsp;&nbsp;&nbsp; 331390 |
| Yongjin Technology Group Co. Ltd.  | 50700 | &nbsp;&nbsp;&nbsp; 124793 |
| Yunnan Aluminium Co. Ltd. - Class A | 64500 | &nbsp;&nbsp;&nbsp; 186039 |
| Yunnan Yuntianhua Co. Ltd. - Class A | 141400 | &nbsp;&nbsp;&nbsp; 532756 |
| Yutong Bus Co. Ltd. - Class A | 366700 | &nbsp;&nbsp;&nbsp; 1401547 |
| Zhejiang Chint Electrics Co. Ltd. - Class A | 113200 | &nbsp;&nbsp;&nbsp; 488592 |
| Zhejiang Expressway Co. Ltd. - Class H | 1354000 | &nbsp;&nbsp;&nbsp; 1254669 |
| Zhejiang Hailide New Material Co. Ltd. - Class A | 1376800 | &nbsp;&nbsp;&nbsp; 1181820 |
| Zhejiang Huayou Cobalt Co. Ltd. - Class A | 152900 | &nbsp;&nbsp;&nbsp; 1416027 |
| Zhejiang Jiahua Energy Chemical Industry Co. Ltd. - Class A | 518600 | &nbsp;&nbsp;&nbsp; 613358 |
| Zijin Mining Group Co. Ltd. - Class H | 208000 | &nbsp;&nbsp;&nbsp; 872518 |
| ZTE Corp. - Class H (a) | 405200 | &nbsp;&nbsp;&nbsp; 1852418 |
|  |  | &nbsp;&nbsp;&nbsp; 354151126 |
| **Czech Republic — 0.3%** | **Czech Republic — 0.3%** | **Czech Republic — 0.3%** |
| CEZ AS | 15226 | &nbsp;&nbsp;&nbsp; 945314 |
| Komercni Banka AS | 27100 | &nbsp;&nbsp;&nbsp; 1360145 |
| Moneta Money Bank AS | 171628 | &nbsp;&nbsp;&nbsp; 1369098 |
|  |  | &nbsp;&nbsp;&nbsp; 3674557 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| Eastern Co. SAE | 241085 | &nbsp;&nbsp;&nbsp; 214634 |
| **Greece — 0.7%** | **Greece — 0.7%** | **Greece — 0.7%** |
| Eurobank Ergasias Services & Holdings SA - Class A | 467298 | &nbsp;&nbsp;&nbsp; 1797821 |
| National Bank of Greece SA | 123447 | &nbsp;&nbsp;&nbsp; 1798049 |
| OPAP SA | 117995 | &nbsp;&nbsp;&nbsp; 2753693 |
| Piraeus Financial Holdings SA | 116213 | &nbsp;&nbsp;&nbsp; 985055 |
| Public Power Corp. SA | 36938 | &nbsp;&nbsp;&nbsp; 609766 |
|  |  | &nbsp;&nbsp;&nbsp; 7944384 |
| **Hong Kong — 0.5%** | **Hong Kong — 0.5%** | **Hong Kong — 0.5%** |
| Orient Overseas International Ltd. (a) | 25500 | &nbsp;&nbsp;&nbsp; 413914 |
| Sino Biopharmaceutical Ltd.  | 3285000 | &nbsp;&nbsp;&nbsp; 3440968 |
| Wasion Holdings Ltd.  | 380000 | &nbsp;&nbsp;&nbsp; 619619 |
| WH Group Ltd.  | 1166500 | &nbsp;&nbsp;&nbsp; 1267896 |

---

**BHFTI-302**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hong Kong — (Continued)** | **Hong Kong — (Continued)** | **Hong Kong — (Continued)** |
| Zijin Gold International Co. Ltd. (a) (b) | 249 | &nbsp;&nbsp;&nbsp; $3859 |
|  |  | &nbsp;&nbsp;&nbsp; 5746256 |
| **Hungary — 0.2%** | **Hungary — 0.2%** | **Hungary — 0.2%** |
| Magyar Telekom Telecommunications PLC | 160852 | &nbsp;&nbsp;&nbsp; 858974 |
| OTP Bank Nyrt | 21111 | &nbsp;&nbsp;&nbsp; 1828384 |
|  |  | &nbsp;&nbsp;&nbsp; 2687358 |
| **India — 14.9%** | **India — 14.9%** | **India — 14.9%** |
| Adani Power Ltd. (b) | 633655 | &nbsp;&nbsp;&nbsp; 1035188 |
| Alkem Laboratories Ltd.  | 11074 | &nbsp;&nbsp;&nbsp; 677138 |
| Apollo Hospitals Enterprise Ltd.  | 25807 | &nbsp;&nbsp;&nbsp; 2164532 |
| Ashok Leyland Ltd.  | 1636848 | &nbsp;&nbsp;&nbsp; 2633426 |
| Aster DM Healthcare Ltd.  | 96166 | &nbsp;&nbsp;&nbsp; 678119 |
| Aurobindo Pharma Ltd.  | 11260 | &nbsp;&nbsp;&nbsp; 137625 |
| Axis Bank Ltd.  | 103567 | &nbsp;&nbsp;&nbsp; 1319697 |
| Bajaj Consumer Care Ltd. (b) | 153258 | &nbsp;&nbsp;&nbsp; 409293 |
| Bajaj Finance Ltd.  | 125160 | &nbsp;&nbsp;&nbsp; 1408652 |
| Bank of Baroda | 60073 | &nbsp;&nbsp;&nbsp; 174950 |
| Bharat Electronics Ltd.  | 328079 | &nbsp;&nbsp;&nbsp; 1492220 |
| Bharat Petroleum Corp. Ltd.  | 808021 | &nbsp;&nbsp;&nbsp; 3085172 |
| Bharti Airtel Ltd.  | 401585 | &nbsp;&nbsp;&nbsp; 8528577 |
| Biocon Ltd.  | 270928 | &nbsp;&nbsp;&nbsp; 1039686 |
| Bombay Burmah Trading Co.  | 20786 | &nbsp;&nbsp;&nbsp; 414336 |
| Ceat Ltd.  | 11726 | &nbsp;&nbsp;&nbsp; 446093 |
| CESC Ltd.  | 373354 | &nbsp;&nbsp;&nbsp; 683722 |
| Chambal Fertilisers & Chemicals Ltd.  | 160458 | &nbsp;&nbsp;&nbsp; 921941 |
| Chennai Petroleum Corp. Ltd.  | 31514 | &nbsp;&nbsp;&nbsp; 268372 |
| Cipla Ltd.  | 41042 | &nbsp;&nbsp;&nbsp; 695746 |
| Coal India Ltd.  | 244994 | &nbsp;&nbsp;&nbsp; 1075201 |
| Coromandel International Ltd.  | 15294 | &nbsp;&nbsp;&nbsp; 388024 |
| Dr. Reddy's Laboratories Ltd.  | 186940 | &nbsp;&nbsp;&nbsp; 2584065 |
| Eicher Motors Ltd.  | 22454 | &nbsp;&nbsp;&nbsp; 1773065 |
| EID Parry India Ltd. (b) | 81618 | &nbsp;&nbsp;&nbsp; 938710 |
| Embassy Office Parks (REIT) | 131720 | &nbsp;&nbsp;&nbsp; 627604 |
| EPL Ltd.  | 208980 | &nbsp;&nbsp;&nbsp; 484292 |
| Finolex Cables Ltd.  | 14338 | &nbsp;&nbsp;&nbsp; 132308 |
| Force Motors Ltd.  | 4679 | &nbsp;&nbsp;&nbsp; 887150 |
| Fortis Healthcare Ltd.  | 113905 | &nbsp;&nbsp;&nbsp; 1244330 |
| General Insurance Corp. of India | 216462 | &nbsp;&nbsp;&nbsp; 899507 |
| GHCL Ltd.  | 52656 | &nbsp;&nbsp;&nbsp; 360015 |
| GMR Power & Urban Infra Ltd. (b) | 113499 | &nbsp;&nbsp;&nbsp; 145275 |
| Godawari Power & Ispat Ltd.  | 158985 | &nbsp;&nbsp;&nbsp; 438631 |
| Graphite India Ltd.  | 113711 | &nbsp;&nbsp;&nbsp; 715653 |
| Great Eastern Shipping Co. Ltd.  | 50162 | &nbsp;&nbsp;&nbsp; 561224 |
| Gujarat Pipavav Port Ltd.  | 342759 | &nbsp;&nbsp;&nbsp; 609987 |
| Gujarat State Petronet Ltd.  | 95517 | &nbsp;&nbsp;&nbsp; 332173 |
| HCL Technologies Ltd.  | 195944 | &nbsp;&nbsp;&nbsp; 3059296 |
| HDFC Asset Management Co. Ltd.  | 14577 | &nbsp;&nbsp;&nbsp; 906189 |
| HDFC Bank Ltd.  | 927956 | &nbsp;&nbsp;&nbsp; 9957750 |
| HDFC Bank Ltd. (ADR) | 94500 | &nbsp;&nbsp;&nbsp; 3228120 |
| Hero MotoCorp Ltd.  | 53140 | &nbsp;&nbsp;&nbsp; 3276793 |
| Hindalco Industries Ltd.  | 439578 | &nbsp;&nbsp;&nbsp; 3783274 |
| Hindustan Aeronautics Ltd.  | 47160 | &nbsp;&nbsp;&nbsp; 2521669 |
| Hindustan Petroleum Corp. Ltd.  | 334833 | &nbsp;&nbsp;&nbsp; 1665901 |
| Hindustan Unilever Ltd.  | 51422 | &nbsp;&nbsp;&nbsp; 1457436 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **India — (Continued)** | **India — (Continued)** | **India — (Continued)** |
| ICICI Bank Ltd.  | 582333 | &nbsp;&nbsp;&nbsp; $8838857 |
| ICICI Bank Ltd. (ADR) | 17100 | &nbsp;&nbsp;&nbsp; 516933 |
| Indian Bank | 153237 | &nbsp;&nbsp;&nbsp; 1291414 |
| Indian Hotels Co. Ltd.  | 72682 | &nbsp;&nbsp;&nbsp; 590244 |
| Indian Oil Corp. Ltd.  | 1319033 | &nbsp;&nbsp;&nbsp; 2223969 |
| Indus Towers Ltd. (b) | 635553 | &nbsp;&nbsp;&nbsp; 2465454 |
| Infosys Ltd.  | 301370 | &nbsp;&nbsp;&nbsp; 4898792 |
| Infosys Ltd. (ADR) (a) | 166100 | &nbsp;&nbsp;&nbsp; 2702447 |
| InterGlobe Aviation Ltd.  | 38871 | &nbsp;&nbsp;&nbsp; 2448275 |
| ITC Ltd.  | 486792 | &nbsp;&nbsp;&nbsp; 2202492 |
| Jindal Saw Ltd.  | 35040 | &nbsp;&nbsp;&nbsp; 79831 |
| Karur Vysya Bank Ltd.  | 483906 | &nbsp;&nbsp;&nbsp; 1144722 |
| KCP Ltd.  | 154561 | &nbsp;&nbsp;&nbsp; 340052 |
| Kotak Mahindra Bank Ltd.  | 28751 | &nbsp;&nbsp;&nbsp; 646683 |
| KRBL Ltd.  | 92031 | &nbsp;&nbsp;&nbsp; 356348 |
| Larsen & Toubro Ltd.  | 36372 | &nbsp;&nbsp;&nbsp; 1501648 |
| LG Balakrishnan & Bros Ltd.  | 9678 | &nbsp;&nbsp;&nbsp; 152432 |
| LT Foods Ltd.  | 102998 | &nbsp;&nbsp;&nbsp; 469819 |
| Lupin Ltd.  | 75156 | &nbsp;&nbsp;&nbsp; 1624844 |
| Mahindra & Mahindra Ltd.  | 165080 | &nbsp;&nbsp;&nbsp; 6388166 |
| Maruti Suzuki India Ltd.  | 2752 | &nbsp;&nbsp;&nbsp; 497381 |
| Max Healthcare Institute Ltd.  | 43224 | &nbsp;&nbsp;&nbsp; 550319 |
| Mphasis Ltd.  | 49651 | &nbsp;&nbsp;&nbsp; 1481428 |
| Muthoot Finance Ltd.  | 80774 | &nbsp;&nbsp;&nbsp; 2802147 |
| National Aluminium Co. Ltd.  | 510073 | &nbsp;&nbsp;&nbsp; 1234325 |
| Nava Ltd.  | 160910 | &nbsp;&nbsp;&nbsp; 1180407 |
| NMDC Ltd.  | 1575423 | &nbsp;&nbsp;&nbsp; 1359114 |
| NTPC Ltd.  | 1002619 | &nbsp;&nbsp;&nbsp; 3847609 |
| Oil & Natural Gas Corp. Ltd.  | 912825 | &nbsp;&nbsp;&nbsp; 2460717 |
| Oracle Financial Services Software Ltd.  | 18336 | &nbsp;&nbsp;&nbsp; 1736661 |
| Page Industries Ltd.  | 217 | &nbsp;&nbsp;&nbsp; 99702 |
| Petronet LNG Ltd.  | 604773 | &nbsp;&nbsp;&nbsp; 1900862 |
| Power Finance Corp. Ltd.  | 183405 | &nbsp;&nbsp;&nbsp; 849353 |
| Power Grid Corp. of India Ltd.  | 805589 | &nbsp;&nbsp;&nbsp; 2548274 |
| PTC India Ltd.  | 266385 | &nbsp;&nbsp;&nbsp; 500906 |
| Raymond Ltd. (b) | 14542 | &nbsp;&nbsp;&nbsp; 94367 |
| Raymond Realty Ltd. (b) | 14542 | &nbsp;&nbsp;&nbsp; 94961 |
| REC Ltd.  | 199536 | &nbsp;&nbsp;&nbsp; 835966 |
| Redington Ltd.  | 90369 | &nbsp;&nbsp;&nbsp; 287891 |
| Reliance Industries Ltd.  | 656485 | &nbsp;&nbsp;&nbsp; 10087060 |
| Reliance Infrastructure Ltd. (b) | 232910 | &nbsp;&nbsp;&nbsp; 635067 |
| Shriram Finance Ltd.  | 168376 | &nbsp;&nbsp;&nbsp; 1174920 |
| State Bank of India | 141511 | &nbsp;&nbsp;&nbsp; 1392660 |
| Sun Pharmaceutical Industries Ltd.  | 218173 | &nbsp;&nbsp;&nbsp; 3930995 |
| Surya Roshni Ltd.  | 57810 | &nbsp;&nbsp;&nbsp; 187528 |
| Tata Consultancy Services Ltd.  | 48428 | &nbsp;&nbsp;&nbsp; 1577100 |
| Tata Motors Ltd.  | 365066 | &nbsp;&nbsp;&nbsp; 2807108 |
| Tata Steel Ltd.  | 602916 | &nbsp;&nbsp;&nbsp; 1148345 |
| Tech Mahindra Ltd.  | 76008 | &nbsp;&nbsp;&nbsp; 1196116 |
| Thomas Cook India Ltd.  | 131890 | &nbsp;&nbsp;&nbsp; 234269 |
| TVS Holdings Ltd.  | 839 | &nbsp;&nbsp;&nbsp; 120512 |
| TVS Motor Co. Ltd.  | 79384 | &nbsp;&nbsp;&nbsp; 3083433 |
| UltraTech Cement Ltd.  | 2697 | &nbsp;&nbsp;&nbsp; 371874 |
| UPL Ltd.  | 265316 | &nbsp;&nbsp;&nbsp; 1966524 |
| Vedanta Ltd.  | 582908 | &nbsp;&nbsp;&nbsp; 3057523 |
| Welspun Corp. Ltd.  | 102393 | &nbsp;&nbsp;&nbsp; 990283 |

---

**BHFTI-303**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **India — (Continued)** | **India — (Continued)** | **India — (Continued)** |
| Wipro Ltd.  | 1053738 | &nbsp;&nbsp;&nbsp; $2833007 |
| Zydus Lifesciences Ltd.  | 28340 | &nbsp;&nbsp;&nbsp; 313839 |
|  |  | &nbsp;&nbsp;&nbsp; 174622102 |
| **Indonesia — 0.9%** | **Indonesia — 0.9%** | **Indonesia — 0.9%** |
| Aneka Tambang Tbk. PT | 3370000 | &nbsp;&nbsp;&nbsp; 641291 |
| Astra International Tbk. PT | 8943700 | &nbsp;&nbsp;&nbsp; 3102569 |
| Bank Central Asia Tbk. PT | 1620900 | &nbsp;&nbsp;&nbsp; 742245 |
| Bank Rakyat Indonesia Persero Tbk. PT | 6858200 | &nbsp;&nbsp;&nbsp; 1603103 |
| Bukit Asam Tbk. PT | 2276200 | &nbsp;&nbsp;&nbsp; 321685 |
| Elang Mahkota Teknologi Tbk. PT | 3344100 | &nbsp;&nbsp;&nbsp; 252228 |
| Indofood Sukses Makmur Tbk. PT | 2833600 | &nbsp;&nbsp;&nbsp; 1228891 |
| Japfa Comfeed Indonesia Tbk. PT | 2582800 | &nbsp;&nbsp;&nbsp; 304148 |
| Perusahaan Gas Negara Tbk. PT | 10779300 | &nbsp;&nbsp;&nbsp; 1094652 |
| Timah Tbk. PT | 2225600 | &nbsp;&nbsp;&nbsp; 214980 |
| Trimegah Bangun Persada Tbk. PT | 5268500 | &nbsp;&nbsp;&nbsp; 376168 |
| United Tractors Tbk. PT | 185700 | &nbsp;&nbsp;&nbsp; 298970 |
|  |  | &nbsp;&nbsp;&nbsp; 10180930 |
| **Kuwait — 0.5%** | **Kuwait — 0.5%** | **Kuwait — 0.5%** |
| Ali Alghanim Sons Automotive Co. KSCC | 95622 | &nbsp;&nbsp;&nbsp; 338494 |
| Boursa Kuwait Securities Co. KPSC | 60648 | &nbsp;&nbsp;&nbsp; 681189 |
| Commercial Real Estate Co. KSC | 983191 | &nbsp;&nbsp;&nbsp; 667244 |
| Gulf Cables & Electrical Industries Group Co. KSCP | 82040 | &nbsp;&nbsp;&nbsp; 562533 |
| Kuwait Finance House KSCP | 565202 | &nbsp;&nbsp;&nbsp; 1472904 |
| Mobile Telecommunications Co. KSCP | 380044 | &nbsp;&nbsp;&nbsp; 641234 |
| National Bank of Kuwait SAKP | 445773 | &nbsp;&nbsp;&nbsp; 1546555 |
| National Investments Co. KSCP | 282118 | &nbsp;&nbsp;&nbsp; 249874 |
|  |  | &nbsp;&nbsp;&nbsp; 6160027 |
| **Malaysia — 1.0%** | **Malaysia — 1.0%** | **Malaysia — 1.0%** |
| Aeon Co. M Bhd.  | 934700 | &nbsp;&nbsp;&nbsp; 288804 |
| Alliance Bank Malaysia Bhd.  | 727476 | &nbsp;&nbsp;&nbsp; 755526 |
| AMMB Holdings Bhd.  | 1178054 | &nbsp;&nbsp;&nbsp; 1582113 |
| CIMB Group Holdings Bhd.  | 816523 | &nbsp;&nbsp;&nbsp; 1424199 |
| Eco World Development Group Bhd.  | 367700 | &nbsp;&nbsp;&nbsp; 191436 |
| Genting Malaysia Bhd.  | 463600 | &nbsp;&nbsp;&nbsp; 232044 |
| KPJ Healthcare Bhd.  | 1026400 | &nbsp;&nbsp;&nbsp; 671695 |
| Malayan Banking Bhd.  | 1472267 | &nbsp;&nbsp;&nbsp; 3468347 |
| Maxis Bhd.  | 221600 | &nbsp;&nbsp;&nbsp; 190781 |
| Petronas Dagangan Bhd.  | 63900 | &nbsp;&nbsp;&nbsp; 348298 |
| RHB Bank Bhd.  | 564700 | &nbsp;&nbsp;&nbsp; 886248 |
| Sunway Real Estate Investment Trust (REIT) | 348200 | &nbsp;&nbsp;&nbsp; 173794 |
| Ta Ann Holdings Bhd.  | 201000 | &nbsp;&nbsp;&nbsp; 198407 |
| Tenaga Nasional Bhd.  | 102000 | &nbsp;&nbsp;&nbsp; 320502 |
| United Plantations Bhd.  | 129750 | &nbsp;&nbsp;&nbsp; 708871 |
|  |  | &nbsp;&nbsp;&nbsp; 11441065 |
| **Mexico — 1.9%** | **Mexico — 1.9%** | **Mexico — 1.9%** |
| Alsea SAB de CV (b) | 115700 | &nbsp;&nbsp;&nbsp; 384624 |
| Arca Continental SAB de CV (a) | 264800 | &nbsp;&nbsp;&nbsp; 2781242 |
| Banco del Bajio SA | 125400 | &nbsp;&nbsp;&nbsp; 316145 |
| Cemex SAB de CV (ADR) | 141600 | &nbsp;&nbsp;&nbsp; 1272984 |
| Coca-Cola Femsa SAB de CV | 85600 | &nbsp;&nbsp;&nbsp; 710237 |
| Fibra Uno Administracion SA de CV (REIT) | 1802900 | &nbsp;&nbsp;&nbsp; 2673807 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Mexico — (Continued)** | **Mexico — (Continued)** | **Mexico — (Continued)** |
| Fomento Economico Mexicano SAB de CV | 121700 | &nbsp;&nbsp;&nbsp; $1199157 |
| Grupo Financiero Banorte SAB de CV - Class O | 528700 | &nbsp;&nbsp;&nbsp; 5309951 |
| Grupo Mexico SAB de CV - Series B | 434100 | &nbsp;&nbsp;&nbsp; 3777442 |
| Industrias Penoles SAB de CV (b) | 11600 | &nbsp;&nbsp;&nbsp; 518277 |
| Kimberly-Clark de Mexico SAB de CV - Class A (a) | 222800 | &nbsp;&nbsp;&nbsp; 469117 |
| Megacable Holdings SAB de CV | 85700 | &nbsp;&nbsp;&nbsp; 278530 |
| Promotora y Operadora de Infraestructura SAB de CV | 124055 | &nbsp;&nbsp;&nbsp; 1698097 |
| Regional SAB de CV | 135100 | &nbsp;&nbsp;&nbsp; 1213086 |
| Wal-Mart de Mexico SAB de CV | 46000 | &nbsp;&nbsp;&nbsp; 142118 |
|  |  | &nbsp;&nbsp;&nbsp; 22744814 |
| **Peru — 0.4%** | **Peru — 0.4%** | **Peru — 0.4%** |
| Credicorp Ltd.  | 11500 | &nbsp;&nbsp;&nbsp; 3062220 |
| Intercorp Financial Services, Inc.  | 29578 | &nbsp;&nbsp;&nbsp; 1193176 |
|  |  | &nbsp;&nbsp;&nbsp; 4255396 |
| **Philippines — 0.3%** | **Philippines — 0.3%** | **Philippines — 0.3%** |
| DMCI Holdings, Inc.  | 2448600 | &nbsp;&nbsp;&nbsp; 475310 |
| GT Capital Holdings, Inc.  | 46970 | &nbsp;&nbsp;&nbsp; 464550 |
| International Container Terminal Services, Inc.  | 262460 | &nbsp;&nbsp;&nbsp; 2126349 |
| Metropolitan Bank & Trust Co.  | 355080 | &nbsp;&nbsp;&nbsp; 415367 |
| Semirara Mining & Power Corp.  | 438900 | &nbsp;&nbsp;&nbsp; 265450 |
|  |  | &nbsp;&nbsp;&nbsp; 3747026 |
| **Poland — 0.8%** | **Poland — 0.8%** | **Poland — 0.8%** |
| Asseco Poland SA | 5431 | &nbsp;&nbsp;&nbsp; 299569 |
| Bank Handlowy w Warszawie SA | 15423 | &nbsp;&nbsp;&nbsp; 442134 |
| Bank Polska Kasa Opieki SA | 41368 | &nbsp;&nbsp;&nbsp; 1988180 |
| Enea SA | 134003 | &nbsp;&nbsp;&nbsp; 651131 |
| ORLEN SA | 82806 | &nbsp;&nbsp;&nbsp; 1971140 |
| Powszechna Kasa Oszczednosci Bank Polski SA | 162265 | &nbsp;&nbsp;&nbsp; 3146217 |
| Rainbow Tours SA | 10576 | &nbsp;&nbsp;&nbsp; 349453 |
| Santander Bank Polska SA | 4056 | &nbsp;&nbsp;&nbsp; 527566 |
|  |  | &nbsp;&nbsp;&nbsp; 9375390 |
| **Qatar — 0.7%** | **Qatar — 0.7%** | **Qatar — 0.7%** |
| Ooredoo QPSC | 499090 | &nbsp;&nbsp;&nbsp; 1874926 |
| Qatar Islamic Bank QPSC | 317645 | &nbsp;&nbsp;&nbsp; 2081515 |
| Qatar National Bank QPSC | 753973 | &nbsp;&nbsp;&nbsp; 3851209 |
| Vodafone Qatar PQSC | 518770 | &nbsp;&nbsp;&nbsp; 349209 |
|  |  | &nbsp;&nbsp;&nbsp; 8156859 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Gazprom PJSC (b) (c) (d) | 595658 | &nbsp;&nbsp;&nbsp; 0 |
| LUKOIL PJSC (b) (c) (d) | 284391 | &nbsp;&nbsp;&nbsp; 0 |
| Mobile TeleSystems PJSC (b) (c) (d) | 253200 | &nbsp;&nbsp;&nbsp; 0 |
| Novatek PJSC (b) (c) (d) | 928138 | &nbsp;&nbsp;&nbsp; 0 |
| Novolipetsk Steel PJSC (GDR) (b) (c) (d) | 19696 | &nbsp;&nbsp;&nbsp; 0 |
| PhosAgro PJSC (b) (c) (d) | 287 | &nbsp;&nbsp;&nbsp; 0 |
| PhosAgro PJSC (GDR) (b) (c) (d) | 44560 | &nbsp;&nbsp;&nbsp; 0 |
| Rosneft Oil Co. PJSC (b) (c) (d) | 77745 | &nbsp;&nbsp;&nbsp; 0 |
| Sberbank of Russia PJSC † (b) (c) (d) | 2524904 | &nbsp;&nbsp;&nbsp; 0 |
| Severstal PAO (GDR) (b) (c) (d) | 30364 | &nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp; 0 |

---

**BHFTI-304**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Saudi Arabia — 3.1%** | **Saudi Arabia — 3.1%** | **Saudi Arabia — 3.1%** |
| Al Babtain Power & Telecommunication Co.  | 78517 | &nbsp;&nbsp;&nbsp; $1211099 |
| Al Rajhi Bank | 228748 | &nbsp;&nbsp;&nbsp; 6530640 |
| Arab National Bank | 463182 | &nbsp;&nbsp;&nbsp; 3058301 |
| Banque Saudi Fransi | 638869 | &nbsp;&nbsp;&nbsp; 3045899 |
| Etihad Etisalat Co.  | 172256 | &nbsp;&nbsp;&nbsp; 3112122 |
| Mobile Telecommunications Co. Saudi Arabia | 269903 | &nbsp;&nbsp;&nbsp; 804261 |
| Nahdi Medical Co.  | 8465 | &nbsp;&nbsp;&nbsp; 268857 |
| Riyad Bank | 392935 | &nbsp;&nbsp;&nbsp; 2856765 |
| Riyadh Cables Group Co.  | 28741 | &nbsp;&nbsp;&nbsp; 975622 |
| Riyadh Cement Co.  | 52204 | &nbsp;&nbsp;&nbsp; 398028 |
| SABIC Agri-Nutrients Co.  | 90860 | &nbsp;&nbsp;&nbsp; 2891985 |
| Saudi Arabian Mining Co. (b) | 14077 | &nbsp;&nbsp;&nbsp; 240437 |
| Saudi Arabian Oil Co.  | 355534 | &nbsp;&nbsp;&nbsp; 2336833 |
| Saudi Awwal Bank | 158165 | &nbsp;&nbsp;&nbsp; 1355649 |
| Saudi Investment Bank | 183070 | &nbsp;&nbsp;&nbsp; 695422 |
| Saudi National Bank | 268823 | &nbsp;&nbsp;&nbsp; 2814338 |
| Saudi Telecom Co.  | 368672 | &nbsp;&nbsp;&nbsp; 4337797 |
|  |  | &nbsp;&nbsp;&nbsp; 36934055 |
| **South Africa — 2.9%** | **South Africa — 2.9%** | **South Africa — 2.9%** |
| Capitec Bank Holdings Ltd.  | 2934 | &nbsp;&nbsp;&nbsp; 590899 |
| Clicks Group Ltd.  | 24066 | &nbsp;&nbsp;&nbsp; 491603 |
| FirstRand Ltd.  | 263289 | &nbsp;&nbsp;&nbsp; 1184683 |
| Gold Fields Ltd.  | 142656 | &nbsp;&nbsp;&nbsp; 6050792 |
| Harmony Gold Mining Co. Ltd.  | 181164 | &nbsp;&nbsp;&nbsp; 3297737 |
| Investec Ltd.  | 76543 | &nbsp;&nbsp;&nbsp; 568321 |
| Momentum Group Ltd.  | 569619 | &nbsp;&nbsp;&nbsp; 1082903 |
| Naspers Ltd. - N Shares | 22790 | &nbsp;&nbsp;&nbsp; 8284061 |
| Netcare Ltd.  | 345466 | &nbsp;&nbsp;&nbsp; 281131 |
| Old Mutual Ltd. (a) | 1439388 | &nbsp;&nbsp;&nbsp; 1115014 |
| Omnia Holdings Ltd.  | 117950 | &nbsp;&nbsp;&nbsp; 489208 |
| Resilient REIT Ltd. (REIT) | 180501 | &nbsp;&nbsp;&nbsp; 669656 |
| Reunert Ltd.  | 21613 | &nbsp;&nbsp;&nbsp; 67362 |
| Shoprite Holdings Ltd. (a) | 146148 | &nbsp;&nbsp;&nbsp; 2320658 |
| Standard Bank Group Ltd.  | 318703 | &nbsp;&nbsp;&nbsp; 4365223 |
| Sun International Ltd.  | 129444 | &nbsp;&nbsp;&nbsp; 302537 |
| Telkom SA SOC Ltd.  | 60484 | &nbsp;&nbsp;&nbsp; 179004 |
| Vodacom Group Ltd.  | 262850 | &nbsp;&nbsp;&nbsp; 2029510 |
| Wilson Bayly Holmes-Ovcon Ltd.  | 37027 | &nbsp;&nbsp;&nbsp; 322430 |
|  |  | &nbsp;&nbsp;&nbsp; 33692732 |
| **South Korea — 10.6%** | **South Korea — 10.6%** | **South Korea — 10.6%** |
| Alteogen, Inc. (b) | 2695 | &nbsp;&nbsp;&nbsp; 883445 |
| Amorepacific Holdings Corp.  | 10562 | &nbsp;&nbsp;&nbsp; 200996 |
| BNK Financial Group, Inc.  | 42541 | &nbsp;&nbsp;&nbsp; 441515 |
| Chong Kun Dang Pharmaceutical Corp.  | 61 | &nbsp;&nbsp;&nbsp; 3575 |
| Coway Co. Ltd.  | 35466 | &nbsp;&nbsp;&nbsp; 2484554 |
| Doosan Bobcat, Inc.  | 15149 | &nbsp;&nbsp;&nbsp; 601047 |
| Doosan Enerbility Co. Ltd. (b) | 10892 | &nbsp;&nbsp;&nbsp; 489083 |
| DoubleUGames Co. Ltd.  | 19697 | &nbsp;&nbsp;&nbsp; 727235 |
| Hana Financial Group, Inc.  | 67493 | &nbsp;&nbsp;&nbsp; 4216335 |
| Hankook Tire & Technology Co. Ltd.  | 60527 | &nbsp;&nbsp;&nbsp; 1661075 |
| Hanwha Aerospace Co. Ltd.  | 1958 | &nbsp;&nbsp;&nbsp; 1544284 |
| Harim Holdings Co. Ltd.  | 50875 | &nbsp;&nbsp;&nbsp; 266006 |
| HD Hyundai Co. Ltd.  | 14327 | &nbsp;&nbsp;&nbsp; 1590131 |
| HD Hyundai Electric Co. Ltd.  | 1383 | &nbsp;&nbsp;&nbsp; 576862 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **South Korea — (Continued)** | **South Korea — (Continued)** | **South Korea — (Continued)** |
| HD Korea Shipbuilding & Offshore Engineering Co. Ltd.  | 7622 | &nbsp;&nbsp;&nbsp; $2242186 |
| HMM Co. Ltd.  | 43558 | &nbsp;&nbsp;&nbsp; 621092 |
| Hyundai Glovis Co. Ltd.  | 23109 | &nbsp;&nbsp;&nbsp; 2732712 |
| Hyundai Mobis Co. Ltd.  | 17657 | &nbsp;&nbsp;&nbsp; 3774903 |
| Hyundai Motor Co.  | 2498 | &nbsp;&nbsp;&nbsp; 383988 |
| Kangwon Land, Inc.  | 86285 | &nbsp;&nbsp;&nbsp; 1130907 |
| KB Financial Group, Inc.  | 68788 | &nbsp;&nbsp;&nbsp; 5681037 |
| Kia Corp.  | 39444 | &nbsp;&nbsp;&nbsp; 2835348 |
| Korea Electric Power Corp.  | 110707 | &nbsp;&nbsp;&nbsp; 2854481 |
| Korea Electric Terminal Co. Ltd.  | 9630 | &nbsp;&nbsp;&nbsp; 421472 |
| Korea Investment Holdings Co. Ltd.  | 25973 | &nbsp;&nbsp;&nbsp; 2708127 |
| KT&G Corp.  | 32825 | &nbsp;&nbsp;&nbsp; 3124030 |
| LG Display Co. Ltd. (b) | 161183 | &nbsp;&nbsp;&nbsp; 1662877 |
| LS Corp.  | 5040 | &nbsp;&nbsp;&nbsp; 603947 |
| Meritz Financial Group, Inc.  | 18834 | &nbsp;&nbsp;&nbsp; 1522130 |
| Mirae Asset Securities Co. Ltd.  | 10687 | &nbsp;&nbsp;&nbsp; 163949 |
| NAVER Corp.  | 18122 | &nbsp;&nbsp;&nbsp; 3459645 |
| NH Investment & Securities Co. Ltd.  | 87066 | &nbsp;&nbsp;&nbsp; 1208629 |
| NHN Corp.  | 9896 | &nbsp;&nbsp;&nbsp; 191280 |
| NICE Information Service Co. Ltd.  | 61855 | &nbsp;&nbsp;&nbsp; 614983 |
| Orion Holdings Corp.  | 11829 | &nbsp;&nbsp;&nbsp; 171611 |
| POSCO Holdings, Inc.  | 2741 | &nbsp;&nbsp;&nbsp; 541536 |
| Samsung Card Co. Ltd.  | 22303 | &nbsp;&nbsp;&nbsp; 829389 |
| Samsung Electro-Mechanics Co. Ltd.  | 13535 | &nbsp;&nbsp;&nbsp; 1878131 |
| Samsung Electronics Co. Ltd.  | 599991 | &nbsp;&nbsp;&nbsp; 36063285 |
| Samsung Securities Co. Ltd.  | 20457 | &nbsp;&nbsp;&nbsp; 1051633 |
| Seegene, Inc.  | 22058 | &nbsp;&nbsp;&nbsp; 389644 |
| Shinhan Financial Group Co. Ltd.  | 91179 | &nbsp;&nbsp;&nbsp; 4585477 |
| SK Discovery Co. Ltd.  | 3550 | &nbsp;&nbsp;&nbsp; 136999 |
| SK Hynix, Inc.  | 73857 | &nbsp;&nbsp;&nbsp; 18466674 |
| SK Square Co. Ltd. (b) | 22089 | &nbsp;&nbsp;&nbsp; 3185724 |
| Woori Financial Group, Inc.  | 160741 | &nbsp;&nbsp;&nbsp; 2979373 |
| Youngone Corp.  | 8473 | &nbsp;&nbsp;&nbsp; 392416 |
| Youngone Holdings Co. Ltd.  | 1474 | &nbsp;&nbsp;&nbsp; 145822 |
|  |  | &nbsp;&nbsp;&nbsp; 124441580 |
| **Taiwan — 19.2%** | **Taiwan — 19.2%** | **Taiwan — 19.2%** |
| Accton Technology Corp.  | 4000 | &nbsp;&nbsp;&nbsp; 138487 |
| Advancetek Enterprise Co. Ltd.  | 267000 | &nbsp;&nbsp;&nbsp; 369169 |
| Arcadyan Technology Corp.  | 110000 | &nbsp;&nbsp;&nbsp; 793992 |
| ASE Technology Holding Co. Ltd.  | 733000 | &nbsp;&nbsp;&nbsp; 3976486 |
| Asustek Computer, Inc.  | 180000 | &nbsp;&nbsp;&nbsp; 3954509 |
| Bafang Yunji International Co. Ltd.  | 42000 | &nbsp;&nbsp;&nbsp; 285388 |
| Bizlink Holding, Inc.  | 13128 | &nbsp;&nbsp;&nbsp; 445793 |
| Cathay Financial Holding Co. Ltd.  | 2013703 | &nbsp;&nbsp;&nbsp; 4338295 |
| Charoen Pokphand Enterprise | 76000 | &nbsp;&nbsp;&nbsp; 349830 |
| China Airlines Ltd.  | 860000 | &nbsp;&nbsp;&nbsp; 589470 |
| Chunghwa Telecom Co. Ltd.  | 98000 | &nbsp;&nbsp;&nbsp; 428978 |
| Compal Electronics, Inc.  | 664000 | &nbsp;&nbsp;&nbsp; 706923 |
| CTBC Financial Holding Co. Ltd.  | 3600000 | &nbsp;&nbsp;&nbsp; 5072060 |
| Delta Electronics, Inc.  | 310000 | &nbsp;&nbsp;&nbsp; 8689801 |
| E.Sun Financial Holding Co. Ltd.  | 3722207 | &nbsp;&nbsp;&nbsp; 4075740 |
| Elite Material Co. Ltd.  | 24000 | &nbsp;&nbsp;&nbsp; 973584 |
| Eva Airways Corp.  | 1817000 | &nbsp;&nbsp;&nbsp; 2276492 |
| Evergreen International Storage & Transport Corp. (c) (d) | 422000 | &nbsp;&nbsp;&nbsp; 484665 |
| Evergreen Marine Corp. Taiwan Ltd.  | 83800 | &nbsp;&nbsp;&nbsp; 492650 |

---

**BHFTI-305**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Taiwan — (Continued)** | **Taiwan — (Continued)** | **Taiwan — (Continued)** |
| Far Eastern New Century Corp.  | 1301000 | &nbsp;&nbsp;&nbsp; $1187218 |
| Far EasTone Telecommunications Co. Ltd.  | 48000 | &nbsp;&nbsp;&nbsp; 139095 |
| First Financial Holding Co. Ltd.  | 2549580 | &nbsp;&nbsp;&nbsp; 2498217 |
| FSP Technology, Inc.  | 226000 | &nbsp;&nbsp;&nbsp; 401327 |
| Fubon Financial Holding Co. Ltd.  | 1337669 | &nbsp;&nbsp;&nbsp; 3884413 |
| Fusheng Precision Co. Ltd.  | 16000 | &nbsp;&nbsp;&nbsp; 137010 |
| Hon Hai Precision Industry Co. Ltd.  | 1799000 | &nbsp;&nbsp;&nbsp; 12818070 |
| KGI Financial Holding Co. Ltd.  | 4977280 | &nbsp;&nbsp;&nbsp; 2443136 |
| Kindom Development Co. Ltd.  | 157410 | &nbsp;&nbsp;&nbsp; 185859 |
| King Slide Works Co. Ltd.  | 6000 | &nbsp;&nbsp;&nbsp; 650559 |
| Kung Long Batteries Industrial Co. Ltd.  | 7000 | &nbsp;&nbsp;&nbsp; 29660 |
| Largan Precision Co. Ltd.  | 15000 | &nbsp;&nbsp;&nbsp; 1159717 |
| Lion Travel Service Co. Ltd.  | 111000 | &nbsp;&nbsp;&nbsp; 576876 |
| Lite-On Technology Corp.  | 651000 | &nbsp;&nbsp;&nbsp; 3713459 |
| MediaTek, Inc.  | 229000 | &nbsp;&nbsp;&nbsp; 9926626 |
| Nan Pao Resins Chemical Co. Ltd.  | 55000 | &nbsp;&nbsp;&nbsp; 710389 |
| Nien Made Enterprise Co. Ltd.  | 59000 | &nbsp;&nbsp;&nbsp; 823753 |
| Pixart Imaging, Inc.  | 68000 | &nbsp;&nbsp;&nbsp; 544057 |
| Posiflex Technology, Inc.  | 50000 | &nbsp;&nbsp;&nbsp; 374842 |
| President Chain Store Corp.  | 55000 | &nbsp;&nbsp;&nbsp; 447796 |
| Quanta Computer, Inc.  | 100000 | &nbsp;&nbsp;&nbsp; 954471 |
| Realtek Semiconductor Corp.  | 178000 | &nbsp;&nbsp;&nbsp; 3218558 |
| Shinkong Insurance Co. Ltd.  | 130000 | &nbsp;&nbsp;&nbsp; 513253 |
| Silicon Motion Technology Corp. (ADR) | 8500 | &nbsp;&nbsp;&nbsp; 805885 |
| Simplo Technology Co. Ltd.  | 32000 | &nbsp;&nbsp;&nbsp; 389162 |
| Sinon Corp.  | 249000 | &nbsp;&nbsp;&nbsp; 361728 |
| SinoPac Financial Holdings Co. Ltd.  | 257466 | &nbsp;&nbsp;&nbsp; 211380 |
| Sinyi Realty, Inc.  | 181000 | &nbsp;&nbsp;&nbsp; 142838 |
| Taiwan FU Hsing Industrial Co. Ltd. (c) (d) | 302000 | &nbsp;&nbsp;&nbsp; 444113 |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 2977000 | &nbsp;&nbsp;&nbsp; 129512459 |
| Tripod Technology Corp.  | 73000 | &nbsp;&nbsp;&nbsp; 716550 |
| Tung Ho Steel Enterprise Corp.  | 178000 | &nbsp;&nbsp;&nbsp; 354163 |
| United Microelectronics Corp.  | 104000 | &nbsp;&nbsp;&nbsp; 155470 |
| Voltronic Power Technology Corp.  | 20000 | &nbsp;&nbsp;&nbsp; 611729 |
| Wan Hai Lines Ltd.  | 111671 | &nbsp;&nbsp;&nbsp; 272734 |
| Wowprime Corp.  | 58000 | &nbsp;&nbsp;&nbsp; 437684 |
| Yuanta Financial Holding Co. Ltd.  | 2931040 | &nbsp;&nbsp;&nbsp; 3347426 |
| Zhen Ding Technology Holding Ltd.  | 495000 | &nbsp;&nbsp;&nbsp; 2714384 |
|  |  | &nbsp;&nbsp;&nbsp; 226258378 |
| **Thailand — 1.2%** | **Thailand — 1.2%** | **Thailand — 1.2%** |
| Charoen Pokphand Foods PCL (NVDR) | 3784000 | &nbsp;&nbsp;&nbsp; 2604875 |
| CP ALL PCL (NVDR) | 26600 | &nbsp;&nbsp;&nbsp; 38829 |
| Delta Electronics Thailand PCL (NVDR) | 124200 | &nbsp;&nbsp;&nbsp; 608021 |
| Kasikornbank PCL (NVDR) | 502700 | &nbsp;&nbsp;&nbsp; 2599374 |
| PTG Energy PCL (NVDR) | 269300 | &nbsp;&nbsp;&nbsp; 76298 |
| PTT PCL (NVDR) | 2595200 | &nbsp;&nbsp;&nbsp; 2663927 |
| SCB X PCL (NVDR) | 298600 | &nbsp;&nbsp;&nbsp; 1184350 |
| Siam City Cement PCL (NVDR) | 41300 | &nbsp;&nbsp;&nbsp; 189949 |
| Tisco Financial Group PCL (NVDR) | 741800 | &nbsp;&nbsp;&nbsp; 2335083 |
| TMBThanachart Bank PCL | 33857600 | &nbsp;&nbsp;&nbsp; 1985170 |
|  |  | &nbsp;&nbsp;&nbsp; 14285876 |
| **Turkey — 0.6%** | **Turkey — 0.6%** | **Turkey — 0.6%** |
| Aselsan Elektronik Sanayi Ve Ticaret AS | 339104 | &nbsp;&nbsp;&nbsp; 1753878 |
| BIM Birlesik Magazalar AS | 139232 | &nbsp;&nbsp;&nbsp; 1812426 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Turkey — (Continued)** | **Turkey — (Continued)** | **Turkey — (Continued)** |
| Dogan Sirketler Grubu Holding AS (a) | 1304869 | &nbsp;&nbsp;&nbsp; $537759 |
| Ford Otomotiv Sanayi AS (a) | 136959 | &nbsp;&nbsp;&nbsp; 326387 |
| Logo Yazilim Sanayi Ve Ticaret AS | 202929 | &nbsp;&nbsp;&nbsp; 845623 |
| Migros Ticaret AS (a) | 28481 | &nbsp;&nbsp;&nbsp; 304946 |
| Pegasus Hava Tasimaciligi AS (a) (b) | 141562 | &nbsp;&nbsp;&nbsp; 737464 |
| Turk Telekomunikasyon AS (a) (b) | 242175 | &nbsp;&nbsp;&nbsp; 296018 |
| Turkiye Garanti Bankasi AS | 226391 | &nbsp;&nbsp;&nbsp; 761600 |
|  |  | &nbsp;&nbsp;&nbsp; 7376101 |
| **United Arab Emirates — 1.6%** | **United Arab Emirates — 1.6%** | **United Arab Emirates — 1.6%** |
| Abu Dhabi Commercial Bank PJSC | 688519 | &nbsp;&nbsp;&nbsp; 2733839 |
| Abu Dhabi Islamic Bank PJSC | 292848 | &nbsp;&nbsp;&nbsp; 1737230 |
| Aldar Properties PJSC | 205432 | &nbsp;&nbsp;&nbsp; 530099 |
| Dubai Islamic Bank PJSC | 717654 | &nbsp;&nbsp;&nbsp; 1870669 |
| Emaar Development PJSC | 640021 | &nbsp;&nbsp;&nbsp; 2344630 |
| Emaar Properties PJSC | 1356530 | &nbsp;&nbsp;&nbsp; 4821951 |
| Emirates NBD Bank PJSC | 518868 | &nbsp;&nbsp;&nbsp; 3429367 |
| First Abu Dhabi Bank PJSC | 285966 | &nbsp;&nbsp;&nbsp; 1220071 |
|  |  | &nbsp;&nbsp;&nbsp; 18687856 |
| **United Kingdom — 0.5%** | **United Kingdom — 0.5%** | **United Kingdom — 0.5%** |
| Anglogold Ashanti PLC | 89891 | &nbsp;&nbsp;&nbsp; 6340011 |
| **United States — 0.3%** | **United States — 0.3%** | **United States — 0.3%** |
| JBS NV - Class A (b) | 201150 | &nbsp;&nbsp;&nbsp; 3003170 |
| Titan SA | 4650 | &nbsp;&nbsp;&nbsp; 189783 |
|  |  | &nbsp;&nbsp;&nbsp; 3192953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $923,973,069) <br>|  | &nbsp;&nbsp;&nbsp; 1134965605 |
| **Preferred Stocks—1.6%** | **Preferred Stocks—1.6%** | **Preferred Stocks—1.6%** |
| **Brazil — 1.1%** | **Brazil — 1.1%** | **Brazil — 1.1%** |
| Banco Bradesco SA | 1203100 | &nbsp;&nbsp;&nbsp; 3998843 |
| Itau Unibanco Holding SA | 118030 | &nbsp;&nbsp;&nbsp; 866444 |
| Itausa SA | 1805626 | &nbsp;&nbsp;&nbsp; 3891311 |
| Marcopolo SA | 252900 | &nbsp;&nbsp;&nbsp; 423381 |
| Petroleo Brasileiro SA - Petrobras | 577500 | &nbsp;&nbsp;&nbsp; 3413622 |
| Petroleo Brasileiro SA - Petrobras (ADR) | 18100 | &nbsp;&nbsp;&nbsp; 213942 |
|  |  | &nbsp;&nbsp;&nbsp; 12807543 |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Embotelladora Andina SA | 239575 | &nbsp;&nbsp;&nbsp; 943917 |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| TVS Motor Co. Ltd. (b) | 330784 | &nbsp;&nbsp;&nbsp; 37255 |
| **South Korea — 0.4%** | **South Korea — 0.4%** | **South Korea — 0.4%** |
| Samsung Electronics Co. Ltd.  | 98367 | &nbsp;&nbsp;&nbsp; 4676492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $15,716,827) <br>|  | &nbsp;&nbsp;&nbsp; 18465207 |

---

**BHFTI-306**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Warrants—0.0%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Malaysia — 0.0%** | **Malaysia — 0.0%** | **Malaysia — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; YTL Corp. Bhd., Expires 06/02/28 (b) <br>(Cost $0)<br>| 79600 | &nbsp;&nbsp;&nbsp; $24661 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—0.4%** | **Short-Term Investments—0.4%** | **Short-Term Investments—0.4%** |
| **Short-Term Investment Funds — 0.4%** |  |  |
| Invesco Treasury Portfolio, Institutional Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.990% (e) | 4526872 | &nbsp;&nbsp;&nbsp; 4526872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $4,526,872) <br>|  | &nbsp;&nbsp;&nbsp; 4526872 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (f)—0.9%** | **Securities Lending Reinvestments (f)—0.9%** | **Securities Lending Reinvestments (f)—0.9%** |
| **Short-Term Investment Funds — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AB Government Money Market Portfolio, <br>Institutional Class, 3.960% (e)<br>| 50000 | &nbsp;&nbsp;&nbsp; 50000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class, 4.070% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares, 4.020% (e)<br>| 1200000 | &nbsp;&nbsp;&nbsp; 1200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class, 4.000% (e)<br>| 1200000 | &nbsp;&nbsp;&nbsp; 1200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class , 4.040% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares, 3.990% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class, 4.050% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Liquidity Funds Government Portfolio, <br>Institutional Shares, 4.050% (e)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares, 4.060% (e)<br>| 1400000 | &nbsp;&nbsp;&nbsp; 1400000 |
|  |  | &nbsp;&nbsp;&nbsp; 8850000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Repurchase Agreements — 0.1%** | **Repurchase Agreements — 0.1%** | **Repurchase Agreements — 0.1%** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $76,407; collateralized by <br> U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $77,926<br>| 76398 | &nbsp;&nbsp;&nbsp; 76398 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** | **Repurchase Agreements — (Continued)** |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $922,504; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate <br> market value of $940,845<br>| 922397 | &nbsp;&nbsp;&nbsp; $922397 |
|  |  | &nbsp;&nbsp;&nbsp; 998795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $9,848,795) <br>|  | &nbsp;&nbsp;&nbsp; 9848795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—99.4% <br>(Cost $954,065,563) <br>|  | &nbsp;&nbsp;&nbsp; 1167831140 |
| Other assets and liabilities (net)—0.6%  |  | &nbsp;&nbsp;&nbsp; 7513874 |
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1175345014 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* <br>| Principal amount stated in U.S. dollars unless otherwise noted. |
| † <br>| Restricted securities are not registered under the Securities Act of 1933 and are subject to legal <br> restrictions on resale. These securities generally may be resold in transactions exempt from <br> registration or to the public if the securities are subsequently registered. Disposal of these <br> securities may involve time-consuming negotiations and prompt sale at an acceptable price may <br> be difficult. As of September 30, 2025, the market value of restricted securities was $0, which is <br> 0.0% of net assets. See details shown in the Restricted Securities table that follows.<br>|
| (a) <br>| All or a portion of the security was held on loan. As of September 30, 2025, the market value of <br> securities loaned was $27,532,535 and the collateral received consisted of cash in the amount of <br> $9,848,795 and non-cash collateral with a value of $19,279,469. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (b) <br>| Non-income producing security. |
| (c) <br>| Security was valued in good faith under procedures subject to oversight by the Board of Trustees. <br> As of September 30, 2025, these securities represent 0.1% of net assets.<br>|
| (d) <br>| Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |
| (e) <br>| The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (f) <br>| Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Ten Largest Industries as of** <br>**September 30, 2025 (Unaudited)**<br>| **% of** <br>**Net Assets**<br>|
| Banks | 16.6 |
| Semiconductors & Semiconductor Equipment | 14.2 |
| Interactive Media & Services | 6.7 |
| Broadline Retail | 6.1 |
| Technology Hardware, Storage & Peripherals | 6.1 |
| Metals & Mining | 4.3 |
| Oil, Gas & Consumable Fuels | 3.7 |
| Electronic Equipment, Instruments & Components | 3.1 |
| Insurance | 3.0 |
| Automobiles | 2.9 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Shares** | **Cost** | **Value** |
| Sberbank of Russia PJSC | 04/12/19-10/13/21 | &nbsp;&nbsp; 2524904 | &nbsp;&nbsp; $8857252 | &nbsp;&nbsp; $0 |

---

**BHFTI-307**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 325 | USD | 22095125 | &nbsp;&nbsp;&nbsp; $209213 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp; $36510915 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $36510915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp; 2143224 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2143224 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp; 13152509 | &nbsp;&nbsp;&nbsp; 340549728 | &nbsp;&nbsp;&nbsp; 448889 | &nbsp;&nbsp;&nbsp; 354151126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Czech Republic | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3674557 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3674557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egypt | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 214634 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 214634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greece | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7944384 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7944384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp; 3859 | &nbsp;&nbsp;&nbsp; 5742397 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5746256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hungary | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2687358 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2687358 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp; 6447500 | &nbsp;&nbsp;&nbsp; 168174602 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 174622102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10180930 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10180930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kuwait | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6160027 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6160027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysia | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11441065 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11441065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp; 22744814 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22744814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peru | &nbsp;&nbsp;&nbsp; 4255396 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4255396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philippines | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3747026 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3747026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Poland | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9375390 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9375390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Qatar | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8156859 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8156859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36934055 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36934055 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33692732 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33692732 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 124441580 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 124441580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp; 805885 | &nbsp;&nbsp;&nbsp; 224523715 | &nbsp;&nbsp;&nbsp; 928778 | &nbsp;&nbsp;&nbsp; 226258378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp;&nbsp; 1985170 | &nbsp;&nbsp;&nbsp; 12300706 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14285876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkey | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7376101 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 7376101 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18687856 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18687856 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6340011 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6340011 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; 3003170 | &nbsp;&nbsp;&nbsp; 189783 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3192953 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 91052442 | &nbsp;&nbsp;&nbsp; 1042535496 | &nbsp;&nbsp;&nbsp; 1377667 | &nbsp;&nbsp;&nbsp; 1134965605 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp; 12807543 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12807543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp; 943917 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 943917 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37255 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37255 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4676492 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4676492 |
| Total Preferred Stocks | &nbsp;&nbsp;&nbsp; 13751460 | &nbsp;&nbsp;&nbsp; 4713747 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18465207 |
| Total Warrants\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24661 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24661 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; 4526872 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4526872 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 8850000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8850000 |

---

**BHFTI-308**

------

**Brighthouse Funds Trust I**

**SSGA Emerging Markets Enhanced Index Portfolio**

**Schedule of Investments as of September 30, 2025** 

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $998795 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $998795 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 8850000 | &nbsp;&nbsp;&nbsp; 998795 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9848795 |
| Total Investments | &nbsp;&nbsp;&nbsp; $118180774 | &nbsp;&nbsp;&nbsp; $1048272699 | &nbsp;&nbsp;&nbsp; $1377667 | &nbsp;&nbsp;&nbsp; $1167831140 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(9848795)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(9848795)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $209213 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $209213 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

During the period ended September 30, 2025, transfers into Level 3 in the amount of $314,718 were due to trading halts on the securities' respective exchanges which resulted in the lack of observable inputs.

**BHFTI-309**

------

**Brighthouse Funds Trust I**

**SSGA Growth and Income ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—94.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Exchange-Traded Funds — 94.0%** | **Exchange-Traded Funds — 94.0%** | **Exchange-Traded Funds — 94.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Optimum Yield Diversified Commodity Strategy No K-1 <br> ETF (a)<br>| 4429817 | &nbsp;&nbsp;&nbsp; $59492442 |
| iShares 0-5 Year TIPS Bond ETF (a) | 646772 | &nbsp;&nbsp;&nbsp; 66850354 |
| iShares Core MSCI Emerging Markets ETF | 2299245 | &nbsp;&nbsp;&nbsp; 151566231 |
| iShares Core S&P 500 ETF | 350204 | &nbsp;&nbsp;&nbsp; 234391537 |
| iShares Core S&P Mid-Cap ETF (a) | 730032 | &nbsp;&nbsp;&nbsp; 47641888 |
| iShares Core S&P Small-Cap ETF (a) | 866586 | &nbsp;&nbsp;&nbsp; 102976415 |
| Schwab International Small-Cap Equity ETF (a) | 689131 | &nbsp;&nbsp;&nbsp; 31362352 |
| SPDR Blackstone Senior Loan ETF (a) (b) | 1008560 | &nbsp;&nbsp;&nbsp; 41935925 |
| SPDR Bloomberg Emerging Markets Local Bond ETF (b) | 1960794 | &nbsp;&nbsp;&nbsp; 41882560 |
| SPDR Bloomberg High Yield Bond ETF (a) (b) | 1123180 | &nbsp;&nbsp;&nbsp; 110060408 |
| SPDR Gold Shares (a) (b) (c) | 226228 | &nbsp;&nbsp;&nbsp; 80417267 |
| SPDR Portfolio Developed World ex-U.S. ETF (a) (b) | 3033485 | &nbsp;&nbsp;&nbsp; 129802823 |
| SPDR Portfolio Intermediate Term Corporate Bond ETF (b) | 493890 | &nbsp;&nbsp;&nbsp; 16737932 |
| SPDR S&P 500 ETF Trust (a) (b) | 518113 | &nbsp;&nbsp;&nbsp; 345156518 |
| Vanguard Total Bond Market ETF (a) | 1703336 | &nbsp;&nbsp;&nbsp; 126677098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $1,362,601,773) <br>|  | &nbsp;&nbsp;&nbsp; 1586951750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—6.0%** | **Short-Term Investments—6.0%** | **Short-Term Investments—6.0%** |
| **Short-Term Investment Funds—6.0%** |  |  |
| Invesco Treasury Portfolio, Institutional Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.990% (d) | 101238555 | &nbsp;&nbsp;&nbsp; 101238555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $101,238,555) <br>|  | &nbsp;&nbsp;&nbsp; 101238555 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—14.6%** | **Securities Lending Reinvestments (e)—14.6%** | **Securities Lending Reinvestments (e)—14.6%** |
| **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC BlueBay U.S. Government Money Market Fund, <br>Institutional Shares 4.060% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 4000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.5%** | **Certificates of Deposit—1.5%** | **Certificates of Deposit—1.5%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, SOFR + 0.330%, 07/22/26 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 1999979 |
| Mitsubishi UFJ Trust & Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, SOFR + 0.220%, 03/17/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 1000021 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, SOFR + 0.240%, 01/13/26 (f) | 4000000 | &nbsp;&nbsp;&nbsp; 4000340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 11/13/25 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 2000266 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 02/11/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 999805 |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 2000262 |
| Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/06/25 | 5000000 | &nbsp;&nbsp;&nbsp; 4999985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 12/08/25 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 999997 |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 2000348 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.230%, 01/30/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; $1000101 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, 10/24/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000240 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 03/20/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 1000277 |
|  |  | &nbsp;&nbsp;&nbsp; 25001911 |
| **Commercial Paper—0.9%** | **Commercial Paper—0.9%** | **Commercial Paper—0.9%** |
| Chesham Finance Ltd./Chesham Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/03/25 | 3000000 | &nbsp;&nbsp;&nbsp; 2998959 |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 7000000 | &nbsp;&nbsp;&nbsp; 6998313 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, SOFR + 0.140%, 12/08/25 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 1999806 |
| Salisbury Receivables Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 12/11/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1983212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.180%, 12/08/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1983900 |
|  |  | &nbsp;&nbsp;&nbsp; 15964190 |
| **Repurchase Agreements—9.2%** | **Repurchase Agreements—9.2%** | **Repurchase Agreements—9.2%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $15,001,750; <br> collateralized by various Common Stock with an aggregate <br> market value of $16,685,036<br>| 15000000 | &nbsp;&nbsp;&nbsp; 15000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $2,023,082; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 07/15/26 - 10/15/28, and various Common Stock with an <br> aggregate market value of $2,228,029<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $10,001,161; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $10,200,005<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $10,239,178; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,000,003<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $5,700,657; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 4.625%, maturity dates ranging from <br> 10/28/25 - 05/15/35, and an aggregate market value of <br> $5,814,001<br>| 5700000 | &nbsp;&nbsp;&nbsp; 5700000 |

---

**BHFTI-310**

------

**Brighthouse Funds Trust I**

**SSGA Growth and Income ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $10,778,906; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $10,993,204<br>| 10777651 | &nbsp;&nbsp;&nbsp; $10777651 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $2,000,238; <br> collateralized by various Common Stock with an aggregate <br> market value of $2,230,188<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $40,033,444; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $44,487,515<br>| 40000000 | &nbsp;&nbsp;&nbsp; 40000000 |
| NBC Global Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.330%, due on <br> 10/07/25 with a maturity value of $29,024,416; <br> collateralized by various Common Stock with an aggregate <br> market value of $32,339,036<br>| 29000000 | &nbsp;&nbsp;&nbsp; 29000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $20,084,778; <br> collateralized by various Common Stock with an aggregate <br> market value of $22,224,914<br>| 20000000 | &nbsp;&nbsp;&nbsp; 20000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $6,100,693; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 05/31/26 - 07/15/30, and an aggregate market value of <br> $6,222,001<br>| 6100000 | &nbsp;&nbsp;&nbsp; 6100000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $4,000,466; <br> collateralized by various Common Stock with an aggregate <br> market value of $4,400,512<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
|  |  | &nbsp;&nbsp;&nbsp; 154577651 |
| **Time Deposits—2.8%** | **Time Deposits—2.8%** | **Time Deposits—2.8%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 5000000 | &nbsp;&nbsp;&nbsp; $5000000 |
| First Abu Dhabi Bank USA NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.160%, OBFR + 0.070% 10/07/25 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 7000000 | &nbsp;&nbsp;&nbsp; 7000000 |
|  |  | &nbsp;&nbsp;&nbsp; 47000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $246,544,017) <br>|  | &nbsp;&nbsp;&nbsp; 246543752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—114.6% <br>(Cost $1,710,384,345) <br>|  | &nbsp;&nbsp;&nbsp; 1934734057 |
| Other assets and liabilities (net)—(14.6)%  |  | &nbsp;&nbsp;&nbsp; (246997870)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1687736187 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $456,442,836 and the collateral received consisted of cash in the amount of $246,530,420 and non-cash collateral with a value of $218,242,305. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(b) Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated issuers.)

(c) Non-income producing security.

(d) The rate shown represents the annualized seven-day yield as of September 30, 2025.

(e) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(f) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

**BHFTI-311**

------

**Brighthouse Funds Trust I**

**SSGA Growth and Income ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| Communication Services Select Sector SPDR Fund | &nbsp;&nbsp; $32883259 | &nbsp;&nbsp; $34660061 | &nbsp;&nbsp; $(68809120)<br>| &nbsp;&nbsp; $4476347 | &nbsp;&nbsp; $(3210547)<br>| &nbsp;&nbsp; $— |
| Consumer Discretionary Select Sector SPDR Fund | &nbsp;&nbsp; 33055056 | &nbsp;&nbsp; 33564783 | &nbsp;&nbsp; (66910283)<br>| &nbsp;&nbsp; (1167397)<br>| &nbsp;&nbsp; 1457841 | &nbsp;&nbsp; — |
| Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 32883619 | &nbsp;&nbsp; (33312538)<br>| &nbsp;&nbsp; 428919 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Energy Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 34723956 | &nbsp;&nbsp; (32927322)<br>| &nbsp;&nbsp; (1796634)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Financial Select Sector SPDR Fund | &nbsp;&nbsp; 32806646 | &nbsp;&nbsp; 29159925 | &nbsp;&nbsp; (66364742)<br>| &nbsp;&nbsp; 4807819 | &nbsp;&nbsp; (409648)<br>| &nbsp;&nbsp; — |
| Health Care Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 32894635 | &nbsp;&nbsp; (33304033)<br>| &nbsp;&nbsp; 409398 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp; 42650772 | &nbsp;&nbsp; 3514032 | &nbsp;&nbsp; (4006353)<br>| &nbsp;&nbsp; (72939)<br>| &nbsp;&nbsp; (149587)<br>| &nbsp;&nbsp; 41935925 |
| SPDR Bloomberg Emerging Markets Local Bond ETF | &nbsp;&nbsp; 41707389 | &nbsp;&nbsp; 1898152 | &nbsp;&nbsp; (5289745)<br>| &nbsp;&nbsp; (346185)<br>| &nbsp;&nbsp; 3912949 | &nbsp;&nbsp; 41882560 |
| SPDR Bloomberg High Yield Bond ETF | &nbsp;&nbsp; 75753631 | &nbsp;&nbsp; 110079199 | &nbsp;&nbsp; (75865611)<br>| &nbsp;&nbsp; (2590614)<br>| &nbsp;&nbsp; 2683803 | &nbsp;&nbsp; 110060408 |
| SPDR Gold Shares | &nbsp;&nbsp; 63040967 | &nbsp;&nbsp; — | &nbsp;&nbsp; (10538472)<br>| &nbsp;&nbsp; 4220448 | &nbsp;&nbsp; 23694324 | &nbsp;&nbsp; 80417267 |
| SPDR Portfolio Developed World ex-U.S. ETF | &nbsp;&nbsp; 121246825 | &nbsp;&nbsp; 137605790 | &nbsp;&nbsp; (165989052)<br>| &nbsp;&nbsp; 13353253 | &nbsp;&nbsp; 23586007 | &nbsp;&nbsp; 129802823 |
| SPDR Portfolio Intermediate Term Corporate Bond ETF | &nbsp;&nbsp; 50627304 | &nbsp;&nbsp; 22545936 | &nbsp;&nbsp; (56735409)<br>| &nbsp;&nbsp; (655259)<br>| &nbsp;&nbsp; 955360 | &nbsp;&nbsp; 16737932 |
| SPDR S&P 500 ETF Trust | &nbsp;&nbsp; 255716081 | &nbsp;&nbsp; 232543202 | &nbsp;&nbsp; (182556251)<br>| &nbsp;&nbsp; 44201253 | &nbsp;&nbsp; (4747767)<br>| &nbsp;&nbsp; 345156518 |
| Technology Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 31181935 | &nbsp;&nbsp; (27358303)<br>| &nbsp;&nbsp; (3823632)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $749487930 | &nbsp;&nbsp; $737255225 | &nbsp;&nbsp; $(829967234)<br>| &nbsp;&nbsp; $61444777 | &nbsp;&nbsp; $47772735 | &nbsp;&nbsp; $765993433 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| Communication Services Select Sector SPDR Fund | &nbsp;&nbsp; $172575 | &nbsp;&nbsp; — |
| Consumer Discretionary Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp; 221244 | &nbsp;&nbsp; — |
| Energy Select Sector SPDR Fund | &nbsp;&nbsp; 267886 | &nbsp;&nbsp; — |
| Financial Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Health Care Select Sector SPDR Fund | &nbsp;&nbsp; 153666 | &nbsp;&nbsp; — |
| SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp; 2091219 | &nbsp;&nbsp; 1008560 |
| SPDR Bloomberg Emerging Markets Local Bond ETF | &nbsp;&nbsp; 1539025 | &nbsp;&nbsp; 1960794 |
| SPDR Bloomberg High Yield Bond ETF | &nbsp;&nbsp; 2526826 | &nbsp;&nbsp; 1123180 |
| SPDR Gold Shares | &nbsp;&nbsp; — | &nbsp;&nbsp; 226228 |
| SPDR Portfolio Developed World ex-U.S. ETF | &nbsp;&nbsp; 1498288 | &nbsp;&nbsp; 3033485 |
| SPDR Portfolio Intermediate Term Corporate Bond ETF | &nbsp;&nbsp; 458458 | &nbsp;&nbsp; 493890 |
| SPDR S&P 500 ETF Trust | &nbsp;&nbsp; 2013780 | &nbsp;&nbsp; 518113 |
| Technology Select Sector SPDR Fund | &nbsp;&nbsp; 56095 | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $10999062 |  |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; $1586951750 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1586951750 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; 101238555 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 101238555 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25001911 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25001911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15964190 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15964190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 154577651 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 154577651 |

---

**BHFTI-312**

------

**Brighthouse Funds Trust I**

**SSGA Growth and Income ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $47000000 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $47000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 242543752 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 246543752 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1692190305 | &nbsp;&nbsp;&nbsp; $242543752 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1934734057 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(246530420)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(246530420)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-313**

------

**Brighthouse Funds Trust I**

**SSGA Growth ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investment Companies—97.0% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Exchange-Traded Funds — 97.0%** | **Exchange-Traded Funds — 97.0%** | **Exchange-Traded Funds — 97.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF <br> (a)<br>| 2544909 | &nbsp;&nbsp;&nbsp; $34178128 |
| iShares Core MSCI Emerging Markets ETF | 1348540 | &nbsp;&nbsp;&nbsp; 88895757 |
| iShares Core S&P 500 ETF | 196625 | &nbsp;&nbsp;&nbsp; 131601112 |
| iShares Core S&P Mid-Cap ETF (a) | 509355 | &nbsp;&nbsp;&nbsp; 33240507 |
| iShares Core S&P Small-Cap ETF (a) | 500746 | &nbsp;&nbsp;&nbsp; 59503647 |
| Schwab International Small-Cap Equity ETF (a) | 497917 | &nbsp;&nbsp;&nbsp; 22660203 |
| SPDR Blackstone Senior Loan ETF (a) (b) | 276150 | &nbsp;&nbsp;&nbsp; 11482317 |
| SPDR Bloomberg Emerging Markets Local Bond ETF (a) (b) | 525455 | &nbsp;&nbsp;&nbsp; 11223719 |
| SPDR Bloomberg High Yield Bond ETF (a) (b) | 306699 | &nbsp;&nbsp;&nbsp; 30053435 |
| SPDR Gold Shares (a) (b) (c) | 95922 | &nbsp;&nbsp;&nbsp; 34097393 |
| SPDR Portfolio Developed World ex-U.S. ETF (a) (b) | 2303392 | &nbsp;&nbsp;&nbsp; 98562144 |
| SPDR S&P 500 ETF Trust (a) (b) | 271181 | &nbsp;&nbsp;&nbsp; 180655359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $604,240,019) <br>|  | &nbsp;&nbsp;&nbsp; 736153721 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—3.0%** | **Short-Term Investments—3.0%** | **Short-Term Investments—3.0%** |
| **Short-Term Investment Funds—3.0%** |  |  |
| Invesco Treasury Portfolio, Institutional Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.990% (d) | 23029285 | &nbsp;&nbsp;&nbsp; 23029285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $23,029,285) <br>|  | &nbsp;&nbsp;&nbsp; 23029285 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—13.1%** | **Securities Lending Reinvestments (e)—13.1%** | **Securities Lending Reinvestments (e)—13.1%** |
| **Short-Term Investment Funds—3.8%** | **Short-Term Investment Funds—3.8%** | **Short-Term Investment Funds—3.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (d)<br>| 12000000 | &nbsp;&nbsp;&nbsp; 12000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (d)<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (d)<br>| 12000000 | &nbsp;&nbsp;&nbsp; 12000000 |
|  |  | &nbsp;&nbsp;&nbsp; 29000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.3%** | **Certificates of Deposit—1.3%** | **Certificates of Deposit—1.3%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 08/07/26 (f) | 3500000 | &nbsp;&nbsp;&nbsp; 3500882 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, SOFR + 0.240%, 12/03/25 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 999978 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 11/13/25 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 2000266 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.200%, 02/11/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 999805 |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (f) | 2000000 | &nbsp;&nbsp;&nbsp; 2000348 |
|  |  | &nbsp;&nbsp;&nbsp; 9501279 |
| **Commercial Paper—0.4%** | **Commercial Paper—0.4%** | **Commercial Paper—0.4%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 3000000 | &nbsp;&nbsp;&nbsp; 2999277 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—5.1%** | **Repurchase Agreements—5.1%** | **Repurchase Agreements—5.1%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,224,672<br>| 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $2,023,082; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $2,228,029<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $5,000,581; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $5,100,002<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $5,119,589; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,500,001<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $2,200,254; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $2,244,000<br>| 2200000 | &nbsp;&nbsp;&nbsp; 2200000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $12,540,602; collateralized <br> by U.S. Treasury Obligations with zero coupon, maturity dates <br> ranging from 11/15/35 - 08/15/55, and an aggregate market <br> value of $12,789,926<br>| 12539143 | &nbsp;&nbsp;&nbsp; 12539143 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $5,004,181; collateralized <br> by U.S. Treasury Obligations with rates ranging from 3.750% - <br> 4.125%, maturity dates ranging from 10/31/26 - 11/30/29, <br> and various Common Stock with an aggregate market value of <br> $5,560,939<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $3,012,717; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,333,737<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $2,300,261; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $2,346,000<br>| 2300000 | &nbsp;&nbsp;&nbsp; 2300000 |
|  |  | &nbsp;&nbsp;&nbsp; 39039143 |
| **Time Deposits—2.5%** | **Time Deposits—2.5%** | **Time Deposits—2.5%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

**BHFTI-314**

------

**Brighthouse Funds Trust I**

**SSGA Growth ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| First Abu Dhabi Bank USA NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 19000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $99,538,821) <br>|  | &nbsp;&nbsp;&nbsp; 99539699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—113.1% <br>(Cost $726,808,125) <br>|  | &nbsp;&nbsp;&nbsp; 858722705 |
| Other assets and liabilities (net)—(13.1)%  |  | &nbsp;&nbsp;&nbsp; (99740215)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $758982490 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) All or a portion of the security was held on loan. As of September 30, 2025, the market value of 

---

| | |
|:---|:---|
|  | securities loaned was $226,386,451 and the collateral received consisted of cash in the amount <br> of $99,536,764 and non-cash collateral with a value of $130,729,871. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (b) | Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated issuers.) |
| (c) | Non-income producing security. |
| (d) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (e) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (f) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For securities <br> based on a published reference index and spread, the index and spread are indicated in the <br> description above. For certain variable rate securities, the coupon rate is determined by the <br> issuer/agent based on current market conditions. For certain asset- and mortgage-backed <br> securities, the coupon rate may fluctuate based on changes of the underlying collateral or <br> prepayments of principal. These securities do not indicate a reference index and spread in their <br> description above.<br>|

---

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| Communication Services Select Sector SPDR Fund | &nbsp;&nbsp; $21610025 | &nbsp;&nbsp; $22240573 | &nbsp;&nbsp; $(44587112)<br>| &nbsp;&nbsp; $2854230 | &nbsp;&nbsp; $(2117716)<br>| &nbsp;&nbsp; $— |
| Consumer Discretionary Select Sector SPDR Fund | &nbsp;&nbsp; 21712144 | &nbsp;&nbsp; 22355187 | &nbsp;&nbsp; (44262195)<br>| &nbsp;&nbsp; (762716)<br>| &nbsp;&nbsp; 957580 | &nbsp;&nbsp; — |
| Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 21873632 | &nbsp;&nbsp; (22157450)<br>| &nbsp;&nbsp; 283818 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Energy Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 22492107 | &nbsp;&nbsp; (21219285)<br>| &nbsp;&nbsp; (1272822)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Financial Select Sector SPDR Fund | &nbsp;&nbsp; 21609503 | &nbsp;&nbsp; 18638700 | &nbsp;&nbsp; (43045510)<br>| &nbsp;&nbsp; 3071503 | &nbsp;&nbsp; (274196)<br>| &nbsp;&nbsp; — |
| Health Care Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 21668396 | &nbsp;&nbsp; (21937732)<br>| &nbsp;&nbsp; 269336 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp; 11229877 | &nbsp;&nbsp; 1754607 | &nbsp;&nbsp; (1432751)<br>| &nbsp;&nbsp; (31653)<br>| &nbsp;&nbsp; (37763)<br>| &nbsp;&nbsp; 11482317 |
| SPDR Bloomberg Emerging Markets Local Bond ETF | &nbsp;&nbsp; 10976915 | &nbsp;&nbsp; 1179302 | &nbsp;&nbsp; (1858560)<br>| &nbsp;&nbsp; (131029)<br>| &nbsp;&nbsp; 1057091 | &nbsp;&nbsp; 11223719 |
| SPDR Bloomberg High Yield Bond ETF | &nbsp;&nbsp; 25846593 | &nbsp;&nbsp; 37092220 | &nbsp;&nbsp; (33036812)<br>| &nbsp;&nbsp; (655919)<br>| &nbsp;&nbsp; 807353 | &nbsp;&nbsp; 30053435 |
| SPDR Dow Jones International Real Estate ETF | &nbsp;&nbsp; — | &nbsp;&nbsp; 7109208 | &nbsp;&nbsp; (7535812)<br>| &nbsp;&nbsp; 426604 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SPDR Gold Shares | &nbsp;&nbsp; 27020982 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4819278)<br>| &nbsp;&nbsp; 1989571 | &nbsp;&nbsp; 9906118 | &nbsp;&nbsp; 34097393 |
| SPDR Portfolio Developed World ex-U.S. ETF | &nbsp;&nbsp; 85047079 | &nbsp;&nbsp; 65657510 | &nbsp;&nbsp; (75530323)<br>| &nbsp;&nbsp; 7487619 | &nbsp;&nbsp; 15900259 | &nbsp;&nbsp; 98562144 |
| SPDR Portfolio Intermediate Term Corporate Bond ETF | &nbsp;&nbsp; 22191296 | &nbsp;&nbsp; 7474359 | &nbsp;&nbsp; (29684748)<br>| &nbsp;&nbsp; (292506)<br>| &nbsp;&nbsp; 311599 | &nbsp;&nbsp; — |
| SPDR S&P 500 ETF Trust | &nbsp;&nbsp; 133982577 | &nbsp;&nbsp; 107891307 | &nbsp;&nbsp; (80706868)<br>| &nbsp;&nbsp; 21684859 | &nbsp;&nbsp; (2196516)<br>| &nbsp;&nbsp; 180655359 |
| Technology Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; 20568586 | &nbsp;&nbsp; (18046398)<br>| &nbsp;&nbsp; (2522188)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $381226991 | &nbsp;&nbsp; $377995694 | &nbsp;&nbsp; $(449860834)<br>| &nbsp;&nbsp; $32398707 | &nbsp;&nbsp; $24313809 | &nbsp;&nbsp; $366074367 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| Communication Services Select Sector SPDR Fund | &nbsp;&nbsp; $113706 | &nbsp;&nbsp; — |
| Consumer Discretionary Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

**BHFTI-315**

------

**Brighthouse Funds Trust I**

**SSGA Growth ETF Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned**<br> **from affiliates**<br> **during the period**<br>| **Number of**<br> **shares held at**<br> **September 30, 2025**<br>|
| Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp; $145909 | &nbsp;&nbsp; — |
| Energy Select Sector SPDR Fund | &nbsp;&nbsp; 176731 | &nbsp;&nbsp; — |
| Financial Select Sector SPDR Fund | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Health Care Select Sector SPDR Fund | &nbsp;&nbsp; 101222 | &nbsp;&nbsp; — |
| SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp; 550173 | &nbsp;&nbsp; 276150 |
| SPDR Bloomberg Emerging Markets Local Bond ETF | &nbsp;&nbsp; 405132 | &nbsp;&nbsp; 525455 |
| SPDR Bloomberg High Yield Bond ETF | &nbsp;&nbsp; 849587 | &nbsp;&nbsp; 306699 |
| SPDR Dow Jones International Real Estate ETF | &nbsp;&nbsp; 71893 | &nbsp;&nbsp; — |
| SPDR Gold Shares | &nbsp;&nbsp; — | &nbsp;&nbsp; 95922 |
| SPDR Portfolio Developed World ex-U.S. ETF | &nbsp;&nbsp; 1197748 | &nbsp;&nbsp; 2303392 |
| SPDR Portfolio Intermediate Term Corporate Bond ETF | &nbsp;&nbsp; 161650 | &nbsp;&nbsp; — |
| SPDR S&P 500 ETF Trust | &nbsp;&nbsp; 1046519 | &nbsp;&nbsp; 271181 |
| Technology Select Sector SPDR Fund | &nbsp;&nbsp; 37002 | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $4857272 |  |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Investment Companies\* | &nbsp;&nbsp;&nbsp; $736153721 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $736153721 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; 23029285 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23029285 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 29000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9501279 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9501279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2999277 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2999277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39039143 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39039143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 29000000 | &nbsp;&nbsp;&nbsp; 70539699 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 99539699 |
| Total Investments | &nbsp;&nbsp;&nbsp; $788183006 | &nbsp;&nbsp;&nbsp; $70539699 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $858722705 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(99536764)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(99536764)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-316**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Large Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—98.2% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 4.6%** | **Aerospace & Defense — 4.6%** | **Aerospace & Defense — 4.6%** |
| Boeing Co. (a) | 130522 | &nbsp;&nbsp;&nbsp; $28170563 |
| General Electric Co.  | 101794 | &nbsp;&nbsp;&nbsp; 30621671 |
| L3Harris Technologies, Inc. (b) | 189605 | &nbsp;&nbsp;&nbsp; 57907263 |
|  |  | &nbsp;&nbsp;&nbsp; 116699497 |
| **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** |
| United Parcel Service, Inc. - Class B | 112882 | &nbsp;&nbsp;&nbsp; 9429034 |
| **Banks — 10.8%** | **Banks — 10.8%** | **Banks — 10.8%** |
| Bank of America Corp.  | 2041950 | &nbsp;&nbsp;&nbsp; 105344200 |
| Citigroup, Inc.  | 492132 | &nbsp;&nbsp;&nbsp; 49951398 |
| Huntington Bancshares, Inc.  | 1410536 | &nbsp;&nbsp;&nbsp; 24359957 |
| U.S. Bancorp (b) | 673408 | &nbsp;&nbsp;&nbsp; 32545809 |
| Wells Fargo & Co.  | 710103 | &nbsp;&nbsp;&nbsp; 59520833 |
|  |  | &nbsp;&nbsp;&nbsp; 271722197 |
| **Beverages — 0.8%** | **Beverages — 0.8%** | **Beverages — 0.8%** |
| Coca-Cola Co.  | 288223 | &nbsp;&nbsp;&nbsp; 19114949 |
| **Broadline Retail — 2.2%** | **Broadline Retail — 2.2%** | **Broadline Retail — 2.2%** |
| Amazon.com, Inc. (a) | 255830 | &nbsp;&nbsp;&nbsp; 56172593 |
| **Capital Markets — 2.8%** | **Capital Markets — 2.8%** | **Capital Markets — 2.8%** |
| Charles Schwab Corp.  | 727020 | &nbsp;&nbsp;&nbsp; 69408600 |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| CF Industries Holdings, Inc. (b) | 226699 | &nbsp;&nbsp;&nbsp; 20334900 |
| RPM International, Inc.  | 133780 | &nbsp;&nbsp;&nbsp; 15769987 |
|  |  | &nbsp;&nbsp;&nbsp; 36104887 |
| **Consumer Staples Distribution & Retail — 0.9%** | **Consumer Staples Distribution & Retail — 0.9%** | **Consumer Staples Distribution & Retail — 0.9%** |
| Walmart, Inc.  | 230083 | &nbsp;&nbsp;&nbsp; 23712354 |
| **Containers & Packaging — 1.3%** | **Containers & Packaging — 1.3%** | **Containers & Packaging — 1.3%** |
| International Paper Co. (b) | 706031 | &nbsp;&nbsp;&nbsp; 32759839 |
| **Electric Utilities — 1.7%** | **Electric Utilities — 1.7%** | **Electric Utilities — 1.7%** |
| Southern Co. (b) | 464907 | &nbsp;&nbsp;&nbsp; 44059236 |
| **Electrical Equipment — 1.1%** | **Electrical Equipment — 1.1%** | **Electrical Equipment — 1.1%** |
| Rockwell Automation, Inc. (b) | 75793 | &nbsp;&nbsp;&nbsp; 26491927 |
| **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** |
| Ralliant Corp.  | 132766 | &nbsp;&nbsp;&nbsp; 5805857 |
| TE Connectivity PLC | 39496 | &nbsp;&nbsp;&nbsp; 8670557 |
|  |  | &nbsp;&nbsp;&nbsp; 14476414 |
| **Energy Equipment & Services — 0.9%** | **Energy Equipment & Services — 0.9%** | **Energy Equipment & Services — 0.9%** |
| Schlumberger NV | 649552 | &nbsp;&nbsp;&nbsp; 22325102 |
| **Entertainment — 0.8%** | **Entertainment — 0.8%** | **Entertainment — 0.8%** |
| Walt Disney Co.  | 181940 | &nbsp;&nbsp;&nbsp; 20832130 |
| **Financial Services — 1.8%** | **Financial Services — 1.8%** | **Financial Services — 1.8%** |
| Corebridge Financial, Inc.  | 479863 | &nbsp;&nbsp;&nbsp; 15379609 |
| Equitable Holdings, Inc. (b) | 591443 | &nbsp;&nbsp;&nbsp; 30033476 |
|  |  | &nbsp;&nbsp;&nbsp; 45413085 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Ground Transportation — 2.6%** | **Ground Transportation — 2.6%** | **Ground Transportation — 2.6%** |
| CSX Corp.  | 976061 | &nbsp;&nbsp;&nbsp; $34659926 |
| Norfolk Southern Corp.  | 101864 | &nbsp;&nbsp;&nbsp; 30600964 |
|  |  | &nbsp;&nbsp;&nbsp; 65260890 |
| **Health Care Equipment & Supplies — 3.5%** | **Health Care Equipment & Supplies — 3.5%** | **Health Care Equipment & Supplies — 3.5%** |
| Baxter International, Inc. (b) | 605897 | &nbsp;&nbsp;&nbsp; 13796275 |
| Becton Dickinson & Co.  | 140839 | &nbsp;&nbsp;&nbsp; 26360835 |
| Zimmer Biomet Holdings, Inc.  | 480884 | &nbsp;&nbsp;&nbsp; 47367074 |
|  |  | &nbsp;&nbsp;&nbsp; 87524184 |
| **Health Care Providers & Services — 5.0%** | **Health Care Providers & Services — 5.0%** | **Health Care Providers & Services — 5.0%** |
| Cigna Group | 68065 | &nbsp;&nbsp;&nbsp; 19619736 |
| CVS Health Corp.  | 554347 | &nbsp;&nbsp;&nbsp; 41792220 |
| Elevance Health, Inc.  | 170800 | &nbsp;&nbsp;&nbsp; 55188896 |
| UnitedHealth Group, Inc.  | 31036 | &nbsp;&nbsp;&nbsp; 10716731 |
|  |  | &nbsp;&nbsp;&nbsp; 127317583 |
| **Hotels, Restaurants & Leisure — 1.3%** | **Hotels, Restaurants & Leisure — 1.3%** | **Hotels, Restaurants & Leisure — 1.3%** |
| Las Vegas Sands Corp.  | 586488 | &nbsp;&nbsp;&nbsp; 31547190 |
| **Household Products — 4.5%** | **Household Products — 4.5%** | **Household Products — 4.5%** |
| Colgate-Palmolive Co. (b) | 395718 | &nbsp;&nbsp;&nbsp; 31633697 |
| Kimberly-Clark Corp.  | 299676 | &nbsp;&nbsp;&nbsp; 37261714 |
| Procter & Gamble Co.  | 295276 | &nbsp;&nbsp;&nbsp; 45369157 |
|  |  | &nbsp;&nbsp;&nbsp; 114264568 |
| **Industrial Conglomerates — 1.1%** | **Industrial Conglomerates — 1.1%** | **Industrial Conglomerates — 1.1%** |
| Siemens AG | 100047 | &nbsp;&nbsp;&nbsp; 26994497 |
| **Industrial REITs — 1.0%** | **Industrial REITs — 1.0%** | **Industrial REITs — 1.0%** |
| Rexford Industrial Realty, Inc. (b) | 630390 | &nbsp;&nbsp;&nbsp; 25915333 |
| **Insurance — 6.1%** | **Insurance — 6.1%** | **Insurance — 6.1%** |
| Allstate Corp.  | 171000 | &nbsp;&nbsp;&nbsp; 36705150 |
| Chubb Ltd.  | 183188 | &nbsp;&nbsp;&nbsp; 51704813 |
| Hartford Insurance Group, Inc.  | 423381 | &nbsp;&nbsp;&nbsp; 56474792 |
| Travelers Cos., Inc.  | 35233 | &nbsp;&nbsp;&nbsp; 9837758 |
|  |  | &nbsp;&nbsp;&nbsp; 154722513 |
| **Interactive Media & Services — 4.3%** | **Interactive Media & Services — 4.3%** | **Interactive Media & Services — 4.3%** |
| Alphabet, Inc. - Class C | 366587 | &nbsp;&nbsp;&nbsp; 89282264 |
| Meta Platforms, Inc. - Class A | 26780 | &nbsp;&nbsp;&nbsp; 19666696 |
|  |  | &nbsp;&nbsp;&nbsp; 108948960 |
| **IT Services — 0.6%** | **IT Services — 0.6%** | **IT Services — 0.6%** |
| Accenture PLC - Class A | 55954 | &nbsp;&nbsp;&nbsp; 13798256 |
| **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** |
| Thermo Fisher Scientific, Inc.  | 24708 | &nbsp;&nbsp;&nbsp; 11983874 |
| **Machinery — 3.9%** | **Machinery — 3.9%** | **Machinery — 3.9%** |
| AGCO Corp. (b) | 188305 | &nbsp;&nbsp;&nbsp; 20161816 |
| Cummins, Inc.  | 63949 | &nbsp;&nbsp;&nbsp; 27010139 |
| Fortive Corp. (b) | 529510 | &nbsp;&nbsp;&nbsp; 25940695 |

---

**BHFTI-317**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Large Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Machinery—(Continued)** | **Machinery—(Continued)** | **Machinery—(Continued)** |
| Stanley Black & Decker, Inc. (b) | 355808 | &nbsp;&nbsp;&nbsp; $26447209 |
|  |  | &nbsp;&nbsp;&nbsp; 99559859 |
| **Media — 1.3%** | **Media — 1.3%** | **Media — 1.3%** |
| Comcast Corp. - Class A | 418217 | &nbsp;&nbsp;&nbsp; 13140378 |
| News Corp. - Class A | 651020 | &nbsp;&nbsp;&nbsp; 19992824 |
|  |  | &nbsp;&nbsp;&nbsp; 33133202 |
| **Multi-Utilities — 4.0%** | **Multi-Utilities — 4.0%** | **Multi-Utilities — 4.0%** |
| Ameren Corp. (b) | 529456 | &nbsp;&nbsp;&nbsp; 55264617 |
| Dominion Energy, Inc. (b) | 209757 | &nbsp;&nbsp;&nbsp; 12830836 |
| Sempra | 377293 | &nbsp;&nbsp;&nbsp; 33948824 |
|  |  | &nbsp;&nbsp;&nbsp; 102044277 |
| **Oil, Gas & Consumable Fuels — 7.2%** | **Oil, Gas & Consumable Fuels — 7.2%** | **Oil, Gas & Consumable Fuels — 7.2%** |
| ConocoPhillips | 658982 | &nbsp;&nbsp;&nbsp; 62333107 |
| EOG Resources, Inc.  | 142937 | &nbsp;&nbsp;&nbsp; 16026096 |
| EQT Corp.  | 197301 | &nbsp;&nbsp;&nbsp; 10739093 |
| Expand Energy Corp.  | 108552 | &nbsp;&nbsp;&nbsp; 11532565 |
| Exxon Mobil Corp.  | 337384 | &nbsp;&nbsp;&nbsp; 38040046 |
| TotalEnergies SE (ADR) | 426788 | &nbsp;&nbsp;&nbsp; 25474976 |
| Williams Cos., Inc.  | 286510 | &nbsp;&nbsp;&nbsp; 18150409 |
|  |  | &nbsp;&nbsp;&nbsp; 182296292 |
| **Personal Care Products — 1.5%** | **Personal Care Products — 1.5%** | **Personal Care Products — 1.5%** |
| Kenvue, Inc.  | 2323981 | &nbsp;&nbsp;&nbsp; 37718212 |
| **Pharmaceuticals — 3.8%** | **Pharmaceuticals — 3.8%** | **Pharmaceuticals — 3.8%** |
| AstraZeneca PLC (ADR) | 228994 | &nbsp;&nbsp;&nbsp; 17568420 |
| Johnson & Johnson | 86859 | &nbsp;&nbsp;&nbsp; 16105396 |
| Merck & Co., Inc.  | 290000 | &nbsp;&nbsp;&nbsp; 24339700 |
| Sanofi SA (ADR) | 341361 | &nbsp;&nbsp;&nbsp; 16112239 |
| Viatris, Inc.  | 2119834 | &nbsp;&nbsp;&nbsp; 20986356 |
|  |  | &nbsp;&nbsp;&nbsp; 95112111 |
| **Residential REITs — 1.6%** | **Residential REITs — 1.6%** | **Residential REITs — 1.6%** |
| AvalonBay Communities, Inc. (b) | 206339 | &nbsp;&nbsp;&nbsp; 39858505 |
| **Semiconductors & Semiconductor Equipment — 4.8%** | **Semiconductors & Semiconductor Equipment — 4.8%** | **Semiconductors & Semiconductor Equipment — 4.8%** |
| Advanced Micro Devices, Inc. (a) | 155860 | &nbsp;&nbsp;&nbsp; 25216589 |
| Applied Materials, Inc.  | 103094 | &nbsp;&nbsp;&nbsp; 21107466 |
| Intel Corp. (a) | 376419 | &nbsp;&nbsp;&nbsp; 12628857 |
| QUALCOMM, Inc.  | 209671 | &nbsp;&nbsp;&nbsp; 34880868 |
| Texas Instruments, Inc.  | 144054 | &nbsp;&nbsp;&nbsp; 26467041 |
|  |  | &nbsp;&nbsp;&nbsp; 120300821 |
| **Software — 2.2%** | **Software — 2.2%** | **Software — 2.2%** |
| Microsoft Corp.  | 49699 | &nbsp;&nbsp;&nbsp; 25741597 |
| Salesforce, Inc.  | 124663 | &nbsp;&nbsp;&nbsp; 29545131 |
|  |  | &nbsp;&nbsp;&nbsp; 55286728 |
| **Specialized REITs — 0.9%** | **Specialized REITs — 0.9%** | **Specialized REITs — 0.9%** |
| Weyerhaeuser Co. (b) | 959588 | &nbsp;&nbsp;&nbsp; 23788187 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Specialty Retail — 1.9%** | **Specialty Retail — 1.9%** | **Specialty Retail — 1.9%** |
| Home Depot, Inc.  | 118331 | &nbsp;&nbsp;&nbsp; $47946538 |
| **Technology Hardware, Storage & Peripherals — 1.2%** | **Technology Hardware, Storage & Peripherals — 1.2%** | **Technology Hardware, Storage & Peripherals — 1.2%** |
| Samsung Electronics Co. Ltd.  | 503342 | &nbsp;&nbsp;&nbsp; 30254064 |
| **Tobacco — 1.3%** | **Tobacco — 1.3%** | **Tobacco — 1.3%** |
| Philip Morris International, Inc.  | 196534 | &nbsp;&nbsp;&nbsp; 31877815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $2,077,653,216) <br>|  | &nbsp;&nbsp;&nbsp; 2476176303 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—1.6%** | **Short-Term Investments—1.6%** | **Short-Term Investments—1.6%** |
| **Short-Term Investment Funds—1.6%** |  |  |
| T. Rowe Price Treasury Reserve Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150% (c) (d) | 41413439 | &nbsp;&nbsp;&nbsp; 41413439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $41,413,439) <br>|  | &nbsp;&nbsp;&nbsp; 41413439 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (e)—5.2%** | **Securities Lending Reinvestments (e)—5.2%** | **Securities Lending Reinvestments (e)—5.2%** |
| **Short-Term Investment Funds—0.3%** | **Short-Term Investment Funds—0.3%** | **Short-Term Investment Funds—0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds FedFund, <br>Institutional Shares 4.020% (d)<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (d)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 6000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—0.4%** | **Certificates of Deposit—0.4%** | **Certificates of Deposit—0.4%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.350%, 05/14/26 (f) | 5000000 | &nbsp;&nbsp;&nbsp; 4999993 |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, SOFR + 0.330%, 07/22/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 999989 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, SOFR + 0.240%, 01/13/26 (f) | 1999999 | &nbsp;&nbsp;&nbsp; 2000170 |
| Standard Chartered Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, SOFR + 0.260%, 02/06/26 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 1000174 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000240 |
|  |  | &nbsp;&nbsp;&nbsp; 11000566 |
| **Commercial Paper—0.1%** | **Commercial Paper—0.1%** | **Commercial Paper—0.1%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999518 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, SOFR + 0.150%, 10/06/25 (f) | 1000000 | &nbsp;&nbsp;&nbsp; 999999 |
|  |  | &nbsp;&nbsp;&nbsp; 2999517 |

---

**BHFTI-318**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Large Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—3.4%** | **Repurchase Agreements—3.4%** | **Repurchase Agreements—3.4%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 5.000%, maturity dates ranging from 11/30/25 - 02/15/52, <br> and an aggregate market value of $2,040,000<br>| 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $10,001,167; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,123,358<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $10,920,780; <br> collateralized by various Common Stock with an aggregate <br> market value of $12,146,150<br>| 10919500 | &nbsp;&nbsp;&nbsp; 10919500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $4,000,474; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,449,343<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,011,541; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $1,114,015<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $5,000,581; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $5,100,002<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $2,047,836; collateralized <br> by various Common Stock with an aggregate market value of <br> $2,200,001<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $10,001,153; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 4.625%, maturity dates ranging from <br> 10/28/25 - 05/15/35, and an aggregate market value of <br> $10,200,001<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $12,875,908; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $13,131,898<br>| 12874410 | &nbsp;&nbsp;&nbsp; 12874410 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $3,000,357; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,345,282<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $3,100,369; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,456,792<br>| 3100000 | &nbsp;&nbsp;&nbsp; 3100000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $10,008,361; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $11,121,879<br>| 10000000 | &nbsp;&nbsp;&nbsp; $10000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $2,000,233; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 6.750%, maturity dates ranging from 10/31/25 - 05/15/55, <br> and an aggregate market value of $2,040,238<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $6,025,433; collateralized <br> by various Common Stock with an aggregate market value of <br> $6,667,474<br>| 6000000 | &nbsp;&nbsp;&nbsp; 6000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $3,100,352; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $3,162,001<br>| 3100000 | &nbsp;&nbsp;&nbsp; 3100000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $1,000,118; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,442<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 85993910 |
| **Time Deposits—1.0%** | **Time Deposits—1.0%** | **Time Deposits—1.0%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| First Abu Dhabi Bank USA NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |

---

**BHFTI-319**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Large Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (e)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; $2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 25000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $130,993,676) <br>|  | &nbsp;&nbsp;&nbsp; 130993993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—105.0% <br>(Cost $2,250,060,331) <br>|  | &nbsp;&nbsp;&nbsp; 2648583735 |
| Other assets and liabilities (net)—(5.0)%  |  | &nbsp;&nbsp;&nbsp; (125632683)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $2522951052 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of 

---

| | |
|:---|:---|
|  | securities loaned was $152,169,694 and the collateral received consisted of cash in the amount <br> of $130,992,297 and non-cash collateral with a value of $24,310,038. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (c) | Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated issuers.) |
| (d) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (e) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (f) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For securities <br> based on a published reference index and spread, the index and spread are indicated in the <br> description above. For certain variable rate securities, the coupon rate is determined by the <br> issuer/agent based on current market conditions. For certain asset- and mortgage-backed <br> securities, the coupon rate may fluctuate based on changes of the underlying collateral or <br> prepayments of principal. These securities do not indicate a reference index and spread in their <br> description above.<br>|

---

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp; $19680710 | &nbsp;&nbsp; $279036265 | &nbsp;&nbsp; $(257303536)<br>| &nbsp;&nbsp; $41413439 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp; $971223 | &nbsp;&nbsp; 41413439 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp; $116699497 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $116699497 |
| &nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp; 9429034 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9429034 |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp; 271722197 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 271722197 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp; 19114949 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 19114949 |
| &nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp; 56172593 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 56172593 |
| &nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp; 69408600 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 69408600 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp; 36104887 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 36104887 |
| &nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp; 23712354 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 23712354 |
| &nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp; 32759839 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 32759839 |
| &nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp; 44059236 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 44059236 |
| &nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp; 26491927 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 26491927 |
| &nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 14476414 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 14476414 |
| &nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp; 22325102 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 22325102 |
| &nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp; 20832130 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 20832130 |
| &nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp; 45413085 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 45413085 |
| &nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp; 65260890 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 65260890 |
| &nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp; 87524184 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 87524184 |
| &nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp; 127317583 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 127317583 |
| &nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp; 31547190 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 31547190 |
| &nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp; 114264568 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 114264568 |
| &nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp; — | &nbsp;&nbsp; 26994497 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26994497 |

---

**BHFTI-320**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Large Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy — (Continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp;&nbsp; $25915333 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $25915333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp; 154722513 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 154722513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp; 108948960 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 108948960 |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp; 13798256 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13798256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp; 11983874 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11983874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp; 99559859 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 99559859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp; 33133202 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 33133202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp; 102044277 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 102044277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp; 182296292 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 182296292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp; 37718212 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37718212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp; 95112111 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 95112111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | &nbsp;&nbsp;&nbsp; 39858505 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 39858505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp; 120300821 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 120300821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp; 55286728 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 55286728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp; 23788187 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23788187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp; 47946538 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47946538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30254064 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30254064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp; 31877815 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31877815 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp; 2418927742 | &nbsp;&nbsp;&nbsp; 57248561 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2476176303 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; 41413439 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41413439 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000566 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11000566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2999517 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2999517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 85993910 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 85993910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 25000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp; 124993993 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 130993993 |
| Total Investments | &nbsp;&nbsp;&nbsp; $2466341181 | &nbsp;&nbsp;&nbsp; $182242554 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2648583735 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(130992297)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(130992297)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-321**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Mid Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—96.4% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** |
| BWX Technologies, Inc. (a) | 61700 | &nbsp;&nbsp;&nbsp; $11375629 |
| Firefly Aerospace, Inc. (b) | 17198 | &nbsp;&nbsp;&nbsp; 504245 |
| StandardAero, Inc. (b) | 180273 | &nbsp;&nbsp;&nbsp; 4919650 |
| Textron, Inc.  | 167461 | &nbsp;&nbsp;&nbsp; 14148780 |
|  |  | &nbsp;&nbsp;&nbsp; 30948304 |
| **Biotechnology — 6.2%** | **Biotechnology — 6.2%** | **Biotechnology — 6.2%** |
| Alnylam Pharmaceuticals, Inc. (b) | 44507 | &nbsp;&nbsp;&nbsp; 20295192 |
| Arcellx, Inc. (b) | 33900 | &nbsp;&nbsp;&nbsp; 2783190 |
| Ascendis Pharma AS (ADR) (b) | 42400 | &nbsp;&nbsp;&nbsp; 8429544 |
| Biogen, Inc. (b) | 21300 | &nbsp;&nbsp;&nbsp; 2983704 |
| BioNTech SE (ADR) (a) (b) | 43700 | &nbsp;&nbsp;&nbsp; 4309694 |
| Caris Life Sciences, Inc. (b) | 35953 | &nbsp;&nbsp;&nbsp; 1087578 |
| Caris Life Sciences, Inc. † (b) (c) | 66943 | &nbsp;&nbsp;&nbsp; 2025026 |
| CRISPR Therapeutics AG (a) (b) | 48309 | &nbsp;&nbsp;&nbsp; 3130906 |
| Cytokinetics, Inc. (a) (b) | 114000 | &nbsp;&nbsp;&nbsp; 6265440 |
| Ionis Pharmaceuticals, Inc. (a) (b) | 237390 | &nbsp;&nbsp;&nbsp; 15530054 |
| Revolution Medicines, Inc. (a) (b) | 64000 | &nbsp;&nbsp;&nbsp; 2988800 |
| Vaxcyte, Inc. (a) (b) | 74832 | &nbsp;&nbsp;&nbsp; 2695449 |
|  |  | &nbsp;&nbsp;&nbsp; 72524577 |
| **Capital Markets — 4.4%** | **Capital Markets — 4.4%** | **Capital Markets — 4.4%** |
| Bullish (b) | 13428 | &nbsp;&nbsp;&nbsp; 854155 |
| Cboe Global Markets, Inc.  | 38600 | &nbsp;&nbsp;&nbsp; 9466650 |
| MarketAxess Holdings, Inc.  | 25400 | &nbsp;&nbsp;&nbsp; 4425950 |
| MSCI, Inc.  | 25500 | &nbsp;&nbsp;&nbsp; 14468955 |
| Raymond James Financial, Inc. (a) | 76100 | &nbsp;&nbsp;&nbsp; 13134860 |
| TPG, Inc. (a) | 69184 | &nbsp;&nbsp;&nbsp; 3974621 |
| Tradeweb Markets, Inc. - Class A (a) | 47100 | &nbsp;&nbsp;&nbsp; 5227158 |
|  |  | &nbsp;&nbsp;&nbsp; 51552349 |
| **Commercial Services & Supplies — 0.8%** | **Commercial Services & Supplies — 0.8%** | **Commercial Services & Supplies — 0.8%** |
| Veralto Corp.  | 66400 | &nbsp;&nbsp;&nbsp; 7078904 |
| Waste Connections, Inc.  | 10300 | &nbsp;&nbsp;&nbsp; 1810740 |
|  |  | &nbsp;&nbsp;&nbsp; 8889644 |
| **Construction & Engineering — 0.6%** | **Construction & Engineering — 0.6%** | **Construction & Engineering — 0.6%** |
| Quanta Services, Inc. (a) | 16200 | &nbsp;&nbsp;&nbsp; 6713604 |
| **Construction Materials — 1.2%** | **Construction Materials — 1.2%** | **Construction Materials — 1.2%** |
| Martin Marietta Materials, Inc.  | 22038 | &nbsp;&nbsp;&nbsp; 13890111 |
| **Consumer Staples Distribution & Retail — 2.6%** | **Consumer Staples Distribution & Retail — 2.6%** | **Consumer Staples Distribution & Retail — 2.6%** |
| Casey's General Stores, Inc. (a) | 19792 | &nbsp;&nbsp;&nbsp; 11188814 |
| Dollar Tree, Inc. (a) (b) | 162171 | &nbsp;&nbsp;&nbsp; 15304077 |
| Maplebear, Inc. (a) (b) | 115900 | &nbsp;&nbsp;&nbsp; 4260484 |
|  |  | &nbsp;&nbsp;&nbsp; 30753375 |
| **Containers & Packaging — 2.1%** | **Containers & Packaging — 2.1%** | **Containers & Packaging — 2.1%** |
| Avery Dennison Corp. (a) | 69100 | &nbsp;&nbsp;&nbsp; 11205947 |
| Ball Corp.  | 140986 | &nbsp;&nbsp;&nbsp; 7108514 |
| Sealed Air Corp. (a) | 163500 | &nbsp;&nbsp;&nbsp; 5779725 |
|  |  | &nbsp;&nbsp;&nbsp; 24094186 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Diversified Consumer Services — 1.4%** | **Diversified Consumer Services — 1.4%** | **Diversified Consumer Services — 1.4%** |
| Bright Horizons Family Solutions, Inc. (b) | 37400 | &nbsp;&nbsp;&nbsp; $4060518 |
| Duolingo, Inc. (a) (b) | 23400 | &nbsp;&nbsp;&nbsp; 7531056 |
| McGraw Hill, Inc. (b) | 134691 | &nbsp;&nbsp;&nbsp; 1690372 |
| Service Corp. International | 38200 | &nbsp;&nbsp;&nbsp; 3179004 |
|  |  | &nbsp;&nbsp;&nbsp; 16460950 |
| **Electronic Equipment, Instruments & Components — 3.2%** | **Electronic Equipment, Instruments & Components — 3.2%** | **Electronic Equipment, Instruments & Components — 3.2%** |
| Amphenol Corp. - Class A | 118400 | &nbsp;&nbsp;&nbsp; 14652000 |
| Corning, Inc.  | 93800 | &nbsp;&nbsp;&nbsp; 7694414 |
| Keysight Technologies, Inc. (b) | 69000 | &nbsp;&nbsp;&nbsp; 12069480 |
| Ralliant Corp.  | 59363 | &nbsp;&nbsp;&nbsp; 2595944 |
|  |  | &nbsp;&nbsp;&nbsp; 37011838 |
| **Energy Equipment & Services — 1.4%** | **Energy Equipment & Services — 1.4%** | **Energy Equipment & Services — 1.4%** |
| TechnipFMC PLC (a) | 429442 | &nbsp;&nbsp;&nbsp; 16941487 |
| **Entertainment — 2.4%** | **Entertainment — 2.4%** | **Entertainment — 2.4%** |
| Liberty Media Corp.-Liberty Formula One - Class C (a) (b) | 175991 | &nbsp;&nbsp;&nbsp; 18382260 |
| Liberty Media Corp.-Liberty Live - Class C (b) | 75700 | &nbsp;&nbsp;&nbsp; 7340629 |
| Live Nation Entertainment, Inc. (a) (b) | 14300 | &nbsp;&nbsp;&nbsp; 2336620 |
|  |  | &nbsp;&nbsp;&nbsp; 28059509 |
| **Financial Services — 1.4%** | **Financial Services — 1.4%** | **Financial Services — 1.4%** |
| Corpay, Inc. (a) (b) | 26541 | &nbsp;&nbsp;&nbsp; 7645401 |
| Klarna Group PLC (a) (b) | 30785 | &nbsp;&nbsp;&nbsp; 1128270 |
| Toast, Inc. - Class A (b) | 224100 | &nbsp;&nbsp;&nbsp; 8181891 |
|  |  | &nbsp;&nbsp;&nbsp; 16955562 |
| **Food Products — 0.7%** | **Food Products — 0.7%** | **Food Products — 0.7%** |
| McCormick & Co., Inc. (a) | 124300 | &nbsp;&nbsp;&nbsp; 8316913 |
| **Ground Transportation — 1.7%** | **Ground Transportation — 1.7%** | **Ground Transportation — 1.7%** |
| JB Hunt Transport Services, Inc.  | 20943 | &nbsp;&nbsp;&nbsp; 2809922 |
| Old Dominion Freight Line, Inc. (a) | 67800 | &nbsp;&nbsp;&nbsp; 9544884 |
| XPO, Inc. (a) (b) | 60700 | &nbsp;&nbsp;&nbsp; 7846689 |
|  |  | &nbsp;&nbsp;&nbsp; 20201495 |
| **Health Care Equipment & Supplies — 6.0%** | **Health Care Equipment & Supplies — 6.0%** | **Health Care Equipment & Supplies — 6.0%** |
| Alcon AG (a) | 102700 | &nbsp;&nbsp;&nbsp; 7652177 |
| Align Technology, Inc. (b) | 44100 | &nbsp;&nbsp;&nbsp; 5522202 |
| Cooper Cos., Inc. (a) (b) | 200900 | &nbsp;&nbsp;&nbsp; 13773704 |
| Hologic, Inc. (b) | 381000 | &nbsp;&nbsp;&nbsp; 25713690 |
| Masimo Corp. (a) (b) | 17100 | &nbsp;&nbsp;&nbsp; 2523105 |
| QuidelOrtho Corp. (b) | 112474 | &nbsp;&nbsp;&nbsp; 3312360 |
| Teleflex, Inc.  | 95423 | &nbsp;&nbsp;&nbsp; 11675958 |
|  |  | &nbsp;&nbsp;&nbsp; 70173196 |
| **Health Care Providers & Services — 0.9%** | **Health Care Providers & Services — 0.9%** | **Health Care Providers & Services — 0.9%** |
| Encompass Health Corp. (a) | 44300 | &nbsp;&nbsp;&nbsp; 5626986 |
| Molina Healthcare, Inc. (a) (b) | 27100 | &nbsp;&nbsp;&nbsp; 5185856 |
|  |  | &nbsp;&nbsp;&nbsp; 10812842 |
| **Health Care Technology — 2.1%** | **Health Care Technology — 2.1%** | **Health Care Technology — 2.1%** |
| Veeva Systems, Inc. - Class A (b) | 80861 | &nbsp;&nbsp;&nbsp; 24089301 |

---

**BHFTI-322**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Mid Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Hotels, Restaurants & Leisure — 10.8%** | **Hotels, Restaurants & Leisure — 10.8%** | **Hotels, Restaurants & Leisure — 10.8%** |
| Domino's Pizza, Inc.  | 40010 | &nbsp;&nbsp;&nbsp; $17272717 |
| DraftKings, Inc. - Class A (b) | 379900 | &nbsp;&nbsp;&nbsp; 14208260 |
| Hilton Worldwide Holdings, Inc.  | 90100 | &nbsp;&nbsp;&nbsp; 23375544 |
| Planet Fitness, Inc. - Class A (a) (b) | 134700 | &nbsp;&nbsp;&nbsp; 13981860 |
| Sportradar Group AG - Class A (b) | 140600 | &nbsp;&nbsp;&nbsp; 3782140 |
| Texas Roadhouse, Inc.  | 43700 | &nbsp;&nbsp;&nbsp; 7260755 |
| Viking Holdings Ltd. (a) (b) | 255420 | &nbsp;&nbsp;&nbsp; 15876907 |
| Wingstop, Inc. (a) | 14400 | &nbsp;&nbsp;&nbsp; 3624192 |
| Wyndham Hotels & Resorts, Inc. (a) | 66300 | &nbsp;&nbsp;&nbsp; 5297370 |
| Yum! Brands, Inc.  | 137671 | &nbsp;&nbsp;&nbsp; 20925992 |
|  |  | &nbsp;&nbsp;&nbsp; 125605737 |
| **Household Durables — 0.4%** | **Household Durables — 0.4%** | **Household Durables — 0.4%** |
| TopBuild Corp. (b) | 11800 | &nbsp;&nbsp;&nbsp; 4612148 |
| **Insurance — 2.6%** | **Insurance — 2.6%** | **Insurance — 2.6%** |
| Assurant, Inc.  | 79200 | &nbsp;&nbsp;&nbsp; 17154720 |
| Axis Capital Holdings Ltd.  | 41800 | &nbsp;&nbsp;&nbsp; 4004440 |
| Markel Group, Inc. (b) | 3100 | &nbsp;&nbsp;&nbsp; 5925216 |
| Ryan Specialty Holdings, Inc. (a) | 55100 | &nbsp;&nbsp;&nbsp; 3105436 |
|  |  | &nbsp;&nbsp;&nbsp; 30189812 |
| **Interactive Media & Services — 1.1%** | **Interactive Media & Services — 1.1%** | **Interactive Media & Services — 1.1%** |
| Match Group, Inc.  | 100146 | &nbsp;&nbsp;&nbsp; 3537157 |
| Reddit, Inc. - Class A (b) | 41829 | &nbsp;&nbsp;&nbsp; 9620251 |
|  |  | &nbsp;&nbsp;&nbsp; 13157408 |
| **IT Services — 0.3%** | **IT Services — 0.3%** | **IT Services — 0.3%** |
| MongoDB, Inc. (b) | 11800 | &nbsp;&nbsp;&nbsp; 3662484 |
| **Life Sciences Tools & Services — 4.7%** | **Life Sciences Tools & Services — 4.7%** | **Life Sciences Tools & Services — 4.7%** |
| Agilent Technologies, Inc.  | 164000 | &nbsp;&nbsp;&nbsp; 21049400 |
| Avantor, Inc. (a) (b) | 686400 | &nbsp;&nbsp;&nbsp; 8566272 |
| Bruker Corp.  | 120311 | &nbsp;&nbsp;&nbsp; 3908904 |
| Mettler-Toledo International, Inc. (a) (b) | 14200 | &nbsp;&nbsp;&nbsp; 17432062 |
| West Pharmaceutical Services, Inc.  | 13118 | &nbsp;&nbsp;&nbsp; 3441245 |
|  |  | &nbsp;&nbsp;&nbsp; 54397883 |
| **Machinery — 3.4%** | **Machinery — 3.4%** | **Machinery — 3.4%** |
| Esab Corp. (a) | 105817 | &nbsp;&nbsp;&nbsp; 11823991 |
| Fortive Corp. (a) | 78533 | &nbsp;&nbsp;&nbsp; 3847332 |
| IDEX Corp. (a) | 12500 | &nbsp;&nbsp;&nbsp; 2034500 |
| Ingersoll Rand, Inc. (a) | 183900 | &nbsp;&nbsp;&nbsp; 15193818 |
| ITT, Inc. (a) | 39800 | &nbsp;&nbsp;&nbsp; 7114648 |
|  |  | &nbsp;&nbsp;&nbsp; 40014289 |
| **Media — 1.3%** | **Media — 1.3%** | **Media — 1.3%** |
| New York Times Co. - Class A | 172800 | &nbsp;&nbsp;&nbsp; 9918720 |
| Trade Desk, Inc. - Class A (b) | 113841 | &nbsp;&nbsp;&nbsp; 5579347 |
|  |  | &nbsp;&nbsp;&nbsp; 15498067 |
| **Oil, Gas & Consumable Fuels — 3.2%** | **Oil, Gas & Consumable Fuels — 3.2%** | **Oil, Gas & Consumable Fuels — 3.2%** |
| Cheniere Energy, Inc.  | 73000 | &nbsp;&nbsp;&nbsp; 17153540 |
| DT Midstream, Inc. (a) | 10800 | &nbsp;&nbsp;&nbsp; 1221048 |
| EQT Corp.  | 198400 | &nbsp;&nbsp;&nbsp; 10798912 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Oil, Gas & Consumable Fuels—(Continued)** | **Oil, Gas & Consumable Fuels—(Continued)** | **Oil, Gas & Consumable Fuels—(Continued)** |
| Expand Energy Corp.  | 72300 | &nbsp;&nbsp;&nbsp; $7681152 |
|  |  | &nbsp;&nbsp;&nbsp; 36854652 |
| **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** |
| Elanco Animal Health, Inc. (a) (b) | 219514 | &nbsp;&nbsp;&nbsp; 4421012 |
| **Professional Services — 4.5%** | **Professional Services — 4.5%** | **Professional Services — 4.5%** |
| Booz Allen Hamilton Holding Corp.  | 87400 | &nbsp;&nbsp;&nbsp; 8735630 |
| Broadridge Financial Solutions, Inc.  | 19200 | &nbsp;&nbsp;&nbsp; 4572864 |
| Equifax, Inc. (a) | 36000 | &nbsp;&nbsp;&nbsp; 9235080 |
| Paylocity Holding Corp. (b) | 74799 | &nbsp;&nbsp;&nbsp; 11913237 |
| TransUnion (a) | 139877 | &nbsp;&nbsp;&nbsp; 11718895 |
| UL Solutions, Inc. - Class A (a) | 81795 | &nbsp;&nbsp;&nbsp; 5795993 |
|  |  | &nbsp;&nbsp;&nbsp; 51971699 |
| **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** |
| CoStar Group, Inc. (b) | 70983 | &nbsp;&nbsp;&nbsp; 5988836 |
| **Semiconductors & Semiconductor Equipment — 6.0%** | **Semiconductors & Semiconductor Equipment — 6.0%** | **Semiconductors & Semiconductor Equipment — 6.0%** |
| Lattice Semiconductor Corp. (a) (b) | 306300 | &nbsp;&nbsp;&nbsp; 22457916 |
| MACOM Technology Solutions Holdings, Inc. (a) (b) | 68400 | &nbsp;&nbsp;&nbsp; 8515116 |
| Microchip Technology, Inc. (a) | 195200 | &nbsp;&nbsp;&nbsp; 12535744 |
| Monolithic Power Systems, Inc.  | 15700 | &nbsp;&nbsp;&nbsp; 14454048 |
| NXP Semiconductors NV | 35900 | &nbsp;&nbsp;&nbsp; 8175507 |
| Teradyne, Inc.  | 27600 | &nbsp;&nbsp;&nbsp; 3798864 |
|  |  | &nbsp;&nbsp;&nbsp; 69937195 |
| **Software — 9.3%** | **Software — 9.3%** | **Software — 9.3%** |
| Atlassian Corp. - Class A (b) | 43173 | &nbsp;&nbsp;&nbsp; 6894728 |
| Aurora Innovation, Inc. (b) | 292467 | &nbsp;&nbsp;&nbsp; 1576397 |
| CCC Intelligent Solutions Holdings, Inc. (a) (b) | 1215373 | &nbsp;&nbsp;&nbsp; 11072048 |
| HubSpot, Inc. (b) | 8800 | &nbsp;&nbsp;&nbsp; 4116640 |
| Manhattan Associates, Inc. (b) | 39200 | &nbsp;&nbsp;&nbsp; 8035216 |
| Monday.com Ltd. (b) | 22700 | &nbsp;&nbsp;&nbsp; 4396763 |
| Netskope, Inc. - Class A (b) | 62941 | &nbsp;&nbsp;&nbsp; 1430649 |
| Onestream, Inc. (a) (b) | 117807 | &nbsp;&nbsp;&nbsp; 2171183 |
| PTC, Inc. (b) | 126763 | &nbsp;&nbsp;&nbsp; 25735424 |
| Tyler Technologies, Inc. (b) | 37700 | &nbsp;&nbsp;&nbsp; 19723132 |
| Unity Software, Inc. (b) | 67166 | &nbsp;&nbsp;&nbsp; 2689327 |
| Zoom Communications, Inc. (b) | 89400 | &nbsp;&nbsp;&nbsp; 7375500 |
| Zscaler, Inc. (b) | 45900 | &nbsp;&nbsp;&nbsp; 13754394 |
|  |  | &nbsp;&nbsp;&nbsp; 108971401 |
| **Specialty Retail — 3.0%** | **Specialty Retail — 3.0%** | **Specialty Retail — 3.0%** |
| Burlington Stores, Inc. (b) | 44346 | &nbsp;&nbsp;&nbsp; 11286057 |
| Ross Stores, Inc.  | 84200 | &nbsp;&nbsp;&nbsp; 12831238 |
| Ulta Beauty, Inc. (b) | 20082 | &nbsp;&nbsp;&nbsp; 10979834 |
|  |  | &nbsp;&nbsp;&nbsp; 35097129 |
| **Technology Hardware, Storage & Peripherals — 1.0%** | **Technology Hardware, Storage & Peripherals — 1.0%** | **Technology Hardware, Storage & Peripherals — 1.0%** |
| Pure Storage, Inc. - Class A (b) | 139500 | &nbsp;&nbsp;&nbsp; 11691495 |
| **Textiles, Apparel & Luxury Goods — 1.1%** | **Textiles, Apparel & Luxury Goods — 1.1%** | **Textiles, Apparel & Luxury Goods — 1.1%** |
| Birkenstock Holding PLC (a) (b) | 172598 | &nbsp;&nbsp;&nbsp; 7810060 |

---

**BHFTI-323**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Mid Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares**/<br> **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Textiles, Apparel & Luxury Goods—(Continued)** | **Textiles, Apparel & Luxury Goods—(Continued)** | **Textiles, Apparel & Luxury Goods—(Continued)** |
| On Holding AG - Class A (b) | 107900 | &nbsp;&nbsp;&nbsp; $4569565 |
|  |  | &nbsp;&nbsp;&nbsp; 12379625 |
| **Trading Companies & Distributors — 1.1%** | **Trading Companies & Distributors — 1.1%** | **Trading Companies & Distributors — 1.1%** |
| Ferguson Enterprises, Inc.  | 55600 | &nbsp;&nbsp;&nbsp; 12486648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $890,957,692) <br>|  | &nbsp;&nbsp;&nbsp; 1125326763 |
| **Convertible Preferred Stocks—0.5%** | **Convertible Preferred Stocks—0.5%** | **Convertible Preferred Stocks—0.5%** |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| Nuro, Inc. - Series D † (b) (d) (e) | 37838 | &nbsp;&nbsp;&nbsp; 490380 |
| Sila Nanotechnologies, Inc. - Series F † (b) (d) (e) | 43934 | &nbsp;&nbsp;&nbsp; 800478 |
|  |  | &nbsp;&nbsp;&nbsp; 1290858 |
| **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** |
| Redwood Materials, Inc.- Series C † (b) (d) (e) | 18350 | &nbsp;&nbsp;&nbsp; 863734 |
| **Software — 0.3%** | **Software — 0.3%** | **Software — 0.3%** |
| Databricks, Inc. - Series H † (b) (d) (e) | 11738 | &nbsp;&nbsp;&nbsp; 1760700 |
| Databricks, Inc. - Series I † (b) (d) (e) | 4164 | &nbsp;&nbsp;&nbsp; 624600 |
| Databricks, Inc. - Series J † (b) (d) (e) | 7056 | &nbsp;&nbsp;&nbsp; 1058400 |
|  |  | &nbsp;&nbsp;&nbsp; 3443700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Cost $5,293,184) <br>|  | &nbsp;&nbsp;&nbsp; 5598292 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—3.1%** | **Short-Term Investments—3.1%** | **Short-Term Investments—3.1%** |
| **Short-Term Investment Funds—3.1%** |  |  |
| T. Rowe Price Treasury Reserve Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150% (f) (g) | 35709059 | &nbsp;&nbsp;&nbsp; 35709059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $35,709,059) <br>|  | &nbsp;&nbsp;&nbsp; 35709059 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (h)—10.9%** | **Securities Lending Reinvestments (h)—10.9%** | **Securities Lending Reinvestments (h)—10.9%** |
| **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** | **Short-Term Investment Funds—0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, <br>Select Class 4.070% (g)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Government Fund, <br>Institutional Shares 3.990% (g)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 2000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.3%** | **Certificates of Deposit—1.3%** | **Certificates of Deposit—1.3%** |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (i) | 1000000 | &nbsp;&nbsp;&nbsp; 1000967 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, SOFR + 0.240%, 12/03/25 (i) | 2000000 | &nbsp;&nbsp;&nbsp; 1999956 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, SOFR + 0.240%, 01/13/26 (i) | 2000000 | &nbsp;&nbsp;&nbsp; 2000170 |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 11/21/25 (i) | 3000000 | &nbsp;&nbsp;&nbsp; 3000255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (i) | 1000000 | &nbsp;&nbsp;&nbsp; 1000131 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** | **Certificates of Deposit—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (i) | 1000000 | &nbsp;&nbsp;&nbsp; $1000055 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.230%, 01/30/26 (i) | 1000000 | &nbsp;&nbsp;&nbsp; 1000101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/14/25 (i) | 1000000 | &nbsp;&nbsp;&nbsp; 1000067 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000240 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 03/20/26 (i) | 1000000 | &nbsp;&nbsp;&nbsp; 1000277 |
|  |  | &nbsp;&nbsp;&nbsp; 15002219 |
| **Commercial Paper—0.5%** | **Commercial Paper—0.5%** | **Commercial Paper—0.5%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 4000000 | &nbsp;&nbsp;&nbsp; 3999036 |
| Old Line Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, SOFR + 0.150%, 10/06/25 (i) | 2000000 | &nbsp;&nbsp;&nbsp; 1999998 |
|  |  | &nbsp;&nbsp;&nbsp; 5999034 |
| **Repurchase Agreements—6.9%** | **Repurchase Agreements—6.9%** | **Repurchase Agreements—6.9%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $1,000,116; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 5.000%, maturity dates ranging from 11/30/25 - 02/15/52, <br> and an aggregate market value of $1,020,000<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $10,001,167; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,123,358<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $4,000,469; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,449,343<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $5,000,593; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,561,679<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,011,541; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $1,114,015<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $5,000,581; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.375% - <br> 4.625%, maturity dates ranging from 06/15/27 - 10/31/28, <br> and an aggregate market value of $5,100,002<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $8,191,342; collateralized <br> by various Common Stock with an aggregate market value of <br> $8,800,002<br>| 8000000 | &nbsp;&nbsp;&nbsp; 8000000 |

---

**BHFTI-324**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Mid Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (h)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $1,700,196; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $1,734,000<br>| 1700000 | &nbsp;&nbsp;&nbsp; $1700000 |
| ING Financial Markets LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $8,583,096; collateralized <br> by U.S. Treasury Obligations with rates ranging from 1.125% - <br> 6.125%, maturity dates ranging from 11/15/27 - 08/15/53, <br> and an aggregate market value of $8,753,742<br>| 8582097 | &nbsp;&nbsp;&nbsp; 8582097 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $4,000,476; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,460,377<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $17,014,214; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $18,907,194<br>| 17000000 | &nbsp;&nbsp;&nbsp; 17000000 |
| Nomura Securities International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $1,000,117; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 6.750%, maturity dates ranging from 10/31/25 - 05/15/55, <br> and an aggregate market value of $1,020,119<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $3,012,717; collateralized <br> by various Common Stock with an aggregate market value of <br> $3,333,737<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $1,800,204; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $1,836,000<br>| 1800000 | &nbsp;&nbsp;&nbsp; 1800000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $4,000,473; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,449,768<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $5,000,582; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,500,640<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
|  |  | &nbsp;&nbsp;&nbsp; 80082097 |
| **Time Deposits—2.0%** | **Time Deposits—2.0%** | **Time Deposits—2.0%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—(Continued)** | **Time Deposits—(Continued)** | **Time Deposits—(Continued)** |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; $4000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.160%, OBFR + 0.070% 10/07/25 (i) | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 24000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $127,081,633) <br>|  | &nbsp;&nbsp;&nbsp; 127083350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—110.9% <br>(Cost $1,059,041,568) <br>|  | &nbsp;&nbsp;&nbsp; 1293717464 |
| Other assets and liabilities (net)—(10.9)%  |  | &nbsp;&nbsp;&nbsp; (126969011)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1166748453 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Principal amount stated in U.S. dollars unless otherwise noted. |
| † | Restricted securities are not registered under the Securities Act of 1933 and are subject to legal <br> restrictions on resale. These securities generally may be resold in transactions exempt from <br> registration or to the public if the securities are subsequently registered. Disposal of these <br> securities may involve time-consuming negotiations and prompt sale at an acceptable price may <br> be difficult. As of September 30, 2025, the market value of restricted securities was $7,623,318, <br> which is 0.7% of net assets. See details shown in the Restricted Securities table that follows.<br>|
| (a) | All or a portion of the security was held on loan. As of September 30, 2025, the market value of <br> securities loaned was $209,644,205 and the collateral received consisted of cash in the amount <br> of $127,078,879 and non-cash collateral with a value of $87,191,889. The cash collateral <br> investments are disclosed in the Schedule of Investments and categorized as Securities Lending <br> Reinvestments. The non-cash collateral received consists of U.S. government securities that are <br> held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or <br> repledged by the Portfolio.<br>|
| (b) | Non-income producing security. |
| (c) | Security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted <br> market price of the equivalent equity security. As of September 30, 2025, the total value of <br> unadjusted equity securities subject to a contractual sale restriction is $2,025,026 with the <br> restriction expiring on December 14, 2025. Under normal market conditions, there are no <br> circumstances that could cause the restriction to lapse.<br>|
| (d) | Security was valued in good faith under procedures subject to oversight by the Board of Trustees. <br> As of September 30, 2025, these securities represent 0.5% of net assets.<br>|
| (e) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |
| (f) | Affiliated Issuer. (See the table that follows for a summary of transactions in affiliated issuers.) |
| (g) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (h) | Represents investment of cash collateral received from securities on loan as of September 30, <br> 2025.<br>|
| (i) | Variable or floating rate security. The stated rate represents the rate at September 30, 2025. <br> Maturity date shown for callable securities reflects the earliest possible call date. For securities <br> based on a published reference index and spread, the index and spread are indicated in the <br> description above. For certain variable rate securities, the coupon rate is determined by the <br> issuer/agent based on current market conditions. For certain asset- and mortgage-backed <br> securities, the coupon rate may fluctuate based on changes of the underlying collateral or <br> prepayments of principal. These securities do not indicate a reference index and spread in their <br> description above.<br>|

---

**BHFTI-325**

------

**Brighthouse Funds Trust I**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price Mid Cap Growth Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Acquisition** <br>**Date**<br>| **Shares** | **Cost** | **Value** |
| Caris Life Sciences, Inc. | 05/11/21-07/15/25 | &nbsp;&nbsp; 66943 | &nbsp;&nbsp; $1265201 | &nbsp;&nbsp; $2025026 |
| Databricks, Inc. - Series H | 08/31/21 | &nbsp;&nbsp; 11738 | &nbsp;&nbsp; 862557 | &nbsp;&nbsp; 1760700 |
| Databricks, Inc. - Series I | 09/14/23 | &nbsp;&nbsp; 4164 | &nbsp;&nbsp; 306054 | &nbsp;&nbsp; 624600 |
| Databricks, Inc. - Series J | 12/17/24 | &nbsp;&nbsp; 7056 | &nbsp;&nbsp; 652680 | &nbsp;&nbsp; 1058400 |
| Nuro, Inc. - Series D | 10/29/21 | &nbsp;&nbsp; 37838 | &nbsp;&nbsp; 788760 | &nbsp;&nbsp; 490380 |
| Redwood Materials, Inc. - Series C | 05/28/21 | &nbsp;&nbsp; 18350 | &nbsp;&nbsp; 869854 | &nbsp;&nbsp; 863734 |
| Sila Nanotechnologies, Inc. - Series F | 01/07/21 | &nbsp;&nbsp; 43934 | &nbsp;&nbsp; 1813279 | &nbsp;&nbsp; 800478 |
|  |  |  |  | &nbsp;&nbsp; $7623318 |

---

**Transactions in Securities of Affiliated Issuers**

A summary of the Portfolio's transactions in the securities of affiliated issuers for the period ended September 30, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security Description** | **Market Value** <br>**December 31, 2024**<br>| **Purchases** | **Sales** | **Ending Value** <br>**as of** <br>**September 30, 2025**<br>|
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp; $27755595 | &nbsp;&nbsp; $144026157 | &nbsp;&nbsp; $(136072693)<br>| &nbsp;&nbsp; $35709059 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Income earned** <br>**from affiliates** <br>**during the period**<br>| **Number of** <br>**shares held at** <br>**September 30, 2025**<br>|
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp; $800789 | &nbsp;&nbsp; 35709059 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $1125326763 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1125326763 |
| Total Convertible Preferred Stocks\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5598292 | &nbsp;&nbsp;&nbsp; 5598292 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; 35709059 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 35709059 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15002219 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15002219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5999034 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5999034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 80082097 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 80082097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 125083350 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 127083350 |
| Total Investments | &nbsp;&nbsp;&nbsp; $1163035822 | &nbsp;&nbsp;&nbsp; $125083350 | &nbsp;&nbsp;&nbsp; $5598292 | &nbsp;&nbsp;&nbsp; $1293717464 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(127078879)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(127078879)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended September 30, 2025 is not presented.

During the period ended September 30, 2025, a transfer out of Level 3 in the amount of $768,499 was due to the initiation of a vendor or broker providing prices based on market indications which have been determined to be a significant observable inputs.

**BHFTI-326**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—35.2% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations — 1.6%** | **Agency Collateralized Mortgage Obligations — 1.6%** | **Agency Collateralized Mortgage Obligations — 1.6%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/15/48 | 537237 | &nbsp;&nbsp;&nbsp; $484926 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, SOFR30A + 1.500%, 10/25/41 (144A) (a) | 2567929 | &nbsp;&nbsp;&nbsp; 2574760 |
| Federal Home Loan Mortgage Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 01/25/51 (b) | 7776222 | &nbsp;&nbsp;&nbsp; 1059069 |
| Federal National Mortgage Association Interest STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 07/25/50 (b) | 3584902 | &nbsp;&nbsp;&nbsp; 451985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 07/25/51 (b) | 10431345 | &nbsp;&nbsp;&nbsp; 1311990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/25/51 (b) | 4134928 | &nbsp;&nbsp;&nbsp; 536457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/25/52 (b) | 8833920 | &nbsp;&nbsp;&nbsp; 1128422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/52 (b) | 6398657 | &nbsp;&nbsp;&nbsp; 819941 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 07/25/52 (b) | 49100449 | &nbsp;&nbsp;&nbsp; 6284715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/25/48 | 1256037 | &nbsp;&nbsp;&nbsp; 1132199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/25/47 | 358127 | &nbsp;&nbsp;&nbsp; 355357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/25/47 | 645469 | &nbsp;&nbsp;&nbsp; 634623 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/20/48 | 1010141 | &nbsp;&nbsp;&nbsp; 945080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, SOFR30A + 1.150%, 06/20/54 (a) | 1340669 | &nbsp;&nbsp;&nbsp; 1342958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.639%, SOFR30A + 1.250%, 02/20/54 (a) | 1443466 | &nbsp;&nbsp;&nbsp; 1448413 |
|  |  | &nbsp;&nbsp;&nbsp; 20510895 |
| **Agency Mortgage-Backed Securities — 33.6%** | **Agency Mortgage-Backed Securities — 33.6%** | **Agency Mortgage-Backed Securities — 33.6%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/52 | 8538990 | &nbsp;&nbsp;&nbsp; 6914365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 04/01/52 | 5542515 | &nbsp;&nbsp;&nbsp; 4477454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/52 | 6119901 | &nbsp;&nbsp;&nbsp; 5185121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/52 | 7115314 | &nbsp;&nbsp;&nbsp; 6016494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/52 | 1871134 | &nbsp;&nbsp;&nbsp; 1584156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/52 | 6111473 | &nbsp;&nbsp;&nbsp; 5157089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/46 | 715927 | &nbsp;&nbsp;&nbsp; 647779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/46 | 1941401 | &nbsp;&nbsp;&nbsp; 1756600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/46 | 3008623 | &nbsp;&nbsp;&nbsp; 2722231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/47 | 3730934 | &nbsp;&nbsp;&nbsp; 3375782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/50 | 4215731 | &nbsp;&nbsp;&nbsp; 3788087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/52 | 4849642 | &nbsp;&nbsp;&nbsp; 4304696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/52 | 16818401 | &nbsp;&nbsp;&nbsp; 14789828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/44 | 1390357 | &nbsp;&nbsp;&nbsp; 1313606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/45 | 2097355 | &nbsp;&nbsp;&nbsp; 1977800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/45 | 223225 | &nbsp;&nbsp;&nbsp; 209834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/46 | 809991 | &nbsp;&nbsp;&nbsp; 758394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/46 | 931234 | &nbsp;&nbsp;&nbsp; 874696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/47 | 2473279 | &nbsp;&nbsp;&nbsp; 2305997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/48 | 8837646 | &nbsp;&nbsp;&nbsp; 8266627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/52 | 1347204 | &nbsp;&nbsp;&nbsp; 1232824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/45 | 1464688 | &nbsp;&nbsp;&nbsp; 1423173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/45 | 3299295 | &nbsp;&nbsp;&nbsp; 3195060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/48 | 281358 | &nbsp;&nbsp;&nbsp; 271093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/48 | 19200 | &nbsp;&nbsp;&nbsp; 18479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/48 | 448543 | &nbsp;&nbsp;&nbsp; 432178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/52 | 6498882 | &nbsp;&nbsp;&nbsp; 6139379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/54 | 7257576 | &nbsp;&nbsp;&nbsp; 6855884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/48 | 943484 | &nbsp;&nbsp;&nbsp; 931930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/52 | 2061708 | &nbsp;&nbsp;&nbsp; 2011496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/52 | 3032250 | &nbsp;&nbsp;&nbsp; 2954799 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/01/52 | 6646315 | &nbsp;&nbsp;&nbsp; $6475872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/53 | 3699205 | &nbsp;&nbsp;&nbsp; 3605103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/48 | 275480 | &nbsp;&nbsp;&nbsp; 279348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/48 | 43549 | &nbsp;&nbsp;&nbsp; 44035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/48 | 512981 | &nbsp;&nbsp;&nbsp; 517861 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/40 | 1855510 | &nbsp;&nbsp;&nbsp; 1632070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/01/40 | 246750 | &nbsp;&nbsp;&nbsp; 214805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 07/01/41 | 3010755 | &nbsp;&nbsp;&nbsp; 2617094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/50 | 1565053 | &nbsp;&nbsp;&nbsp; 1273934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/01/51 | 5115601 | &nbsp;&nbsp;&nbsp; 4150579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/51 | 7838502 | &nbsp;&nbsp;&nbsp; 6369019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/01/51 | 12513886 | &nbsp;&nbsp;&nbsp; 10144673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/52 | 7519392 | &nbsp;&nbsp;&nbsp; 6093139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 04/01/52 | 9969361 | &nbsp;&nbsp;&nbsp; 8113156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/52 | 12279298 | &nbsp;&nbsp;&nbsp; 9919745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/51 | 2420306 | &nbsp;&nbsp;&nbsp; 2041292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/51 | 7195234 | &nbsp;&nbsp;&nbsp; 6164035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/01/51 | 7315476 | &nbsp;&nbsp;&nbsp; 6242756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/52 | 583608 | &nbsp;&nbsp;&nbsp; 493547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/52 | 7511395 | &nbsp;&nbsp;&nbsp; 6347682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/52 | 5745017 | &nbsp;&nbsp;&nbsp; 4865703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/45 | 5777893 | &nbsp;&nbsp;&nbsp; 5273453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/49 | 3044451 | &nbsp;&nbsp;&nbsp; 2737071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/49 | 848360 | &nbsp;&nbsp;&nbsp; 741455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/44 | 1793765 | &nbsp;&nbsp;&nbsp; 1693050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/48 | 2096201 | &nbsp;&nbsp;&nbsp; 1952392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/48 | 1027352 | &nbsp;&nbsp;&nbsp; 956987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/42 | 245752 | &nbsp;&nbsp;&nbsp; 239317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/47 | 524423 | &nbsp;&nbsp;&nbsp; 504244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/52 | 6929293 | &nbsp;&nbsp;&nbsp; 6549603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/52 | 6951949 | &nbsp;&nbsp;&nbsp; 6568265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/53 | 6244435 | &nbsp;&nbsp;&nbsp; 5891741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/46 | 899078 | &nbsp;&nbsp;&nbsp; 892365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/48 | 2603867 | &nbsp;&nbsp;&nbsp; 2565418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/48 | 450737 | &nbsp;&nbsp;&nbsp; 442738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/52 | 5294181 | &nbsp;&nbsp;&nbsp; 5159502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/52 | 9725287 | &nbsp;&nbsp;&nbsp; 9495875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/53 | 10653107 | &nbsp;&nbsp;&nbsp; 10392906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/53 | 3711022 | &nbsp;&nbsp;&nbsp; 3696541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/53 | 5500339 | &nbsp;&nbsp;&nbsp; 5476040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/53 | 8731718 | &nbsp;&nbsp;&nbsp; 8817730 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/20/46 | 592761 | &nbsp;&nbsp;&nbsp; 536369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/20/46 | 1871091 | &nbsp;&nbsp;&nbsp; 1693058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/20/47 | 383023 | &nbsp;&nbsp;&nbsp; 346575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/20/47 | 670516 | &nbsp;&nbsp;&nbsp; 606092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/20/49 | 728000 | &nbsp;&nbsp;&nbsp; 642053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/20/46 | 1338401 | &nbsp;&nbsp;&nbsp; 1246177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/20/46 | 589338 | &nbsp;&nbsp;&nbsp; 548668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/20/46 | 130975 | &nbsp;&nbsp;&nbsp; 121882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/46 | 1987121 | &nbsp;&nbsp;&nbsp; 1847519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/20/47 | 346121 | &nbsp;&nbsp;&nbsp; 321106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/20/47 | 633908 | &nbsp;&nbsp;&nbsp; 586354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/47 | 1291547 | &nbsp;&nbsp;&nbsp; 1198912 |

---

**BHFTI-327**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/20/49 | 99896 | &nbsp;&nbsp;&nbsp; $89972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/20/47 | 644161 | &nbsp;&nbsp;&nbsp; 616292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/20/47 | 589294 | &nbsp;&nbsp;&nbsp; 563798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/20/48 | 419671 | &nbsp;&nbsp;&nbsp; 401509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/48 | 844615 | &nbsp;&nbsp;&nbsp; 808058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/20/47 | 1243777 | &nbsp;&nbsp;&nbsp; 1233879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/20/47 | 1880415 | &nbsp;&nbsp;&nbsp; 1866029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/20/52 | 6761298 | &nbsp;&nbsp;&nbsp; 6605000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/20/54 | 4628494 | &nbsp;&nbsp;&nbsp; 4491383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/20/47 | 918329 | &nbsp;&nbsp;&nbsp; 935343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/20/47 | 488923 | &nbsp;&nbsp;&nbsp; 497986 |
| Government National Mortgage Association, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, TBA (c) | 17875000 | &nbsp;&nbsp;&nbsp; 15386391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, TBA (c) | 13775000 | &nbsp;&nbsp;&nbsp; 12557511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, TBA (c) | 12950000 | &nbsp;&nbsp;&nbsp; 12174281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (c) | 4875000 | &nbsp;&nbsp;&nbsp; 4726808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, TBA (c) | 15450000 | &nbsp;&nbsp;&nbsp; 15366866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, TBA (c) | 10375000 | &nbsp;&nbsp;&nbsp; 10452214 |
| Uniform Mortgage-Backed Security, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, TBA (c) | 5900000 | &nbsp;&nbsp;&nbsp; 4754010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, TBA (c) | 10500000 | &nbsp;&nbsp;&nbsp; 8844566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, TBA (c) | 8925000 | &nbsp;&nbsp;&nbsp; 7837945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, TBA (c) | 17325000 | &nbsp;&nbsp;&nbsp; 15826755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, TBA (c) | 7850000 | &nbsp;&nbsp;&nbsp; 7397545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (c) | 7900000 | &nbsp;&nbsp;&nbsp; 7661877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, TBA (c) | 8850000 | &nbsp;&nbsp;&nbsp; 8776166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, TBA (c) | 8650000 | &nbsp;&nbsp;&nbsp; 8721258 |
|  |  | &nbsp;&nbsp;&nbsp; 437833279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $470,291,888) <br>|  | &nbsp;&nbsp;&nbsp; 458344174 |
| **U.S. Treasury & Government Agencies—29.2%** | **U.S. Treasury & Government Agencies—29.2%** | **U.S. Treasury & Government Agencies—29.2%** |
| **U.S. Treasury — 29.2%** | **U.S. Treasury — 29.2%** | **U.S. Treasury — 29.2%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/15/55 (d) | 56824000 | &nbsp;&nbsp;&nbsp; 57019332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 08/15/45 (d) | 38990000 | &nbsp;&nbsp;&nbsp; 39861183 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 09/15/28 | 41240000 | &nbsp;&nbsp;&nbsp; 40959697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/30/27 | 15145000 | &nbsp;&nbsp;&nbsp; 15112462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 09/30/30 | 186005000 | &nbsp;&nbsp;&nbsp; 185060444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/30/32 | 19400000 | &nbsp;&nbsp;&nbsp; 19336344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/15/35 (d) | 23204000 | &nbsp;&nbsp;&nbsp; 23392532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $379,496,304) <br>|  | &nbsp;&nbsp;&nbsp; 380741994 |
| **Corporate Bonds & Notes—17.3%** | **Corporate Bonds & Notes—17.3%** | **Corporate Bonds & Notes—17.3%** |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| BAE Systems Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 12/15/25 (144A) | 1500000 | &nbsp;&nbsp;&nbsp; 1498380 |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/15/36 (d) | 310000 | &nbsp;&nbsp;&nbsp; 303382 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Aerospace/Defense—(Continued)** | **Aerospace/Defense—(Continued)** | **Aerospace/Defense—(Continued)** |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 08/15/34 (d) | 90000 | &nbsp;&nbsp;&nbsp; $90996 |
|  |  | &nbsp;&nbsp;&nbsp; 1892758 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| Japan Tobacco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/15/30 (144A) (d) | 1835000 | &nbsp;&nbsp;&nbsp; 1899888 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 07/15/37 | 1791304 | &nbsp;&nbsp;&nbsp; 1852516 |
| **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 03/25/32 (144A) (d) | 2040000 | &nbsp;&nbsp;&nbsp; 2106093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 03/27/35 (144A) (d) | 270000 | &nbsp;&nbsp;&nbsp; 276842 |
|  |  | &nbsp;&nbsp;&nbsp; 2382935 |
| **Banks — 3.9%** | **Banks — 3.9%** | **Banks — 3.9%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.658%, SOFR + 0.910%, 03/11/27 (a) | 6285000 | &nbsp;&nbsp;&nbsp; 6212317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.087%, SOFR + 1.060%, 06/14/29 (a) (d) | 2260000 | &nbsp;&nbsp;&nbsp; 2140735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.299%, SOFR + 1.220%, 07/21/32 (a) (d) | 1610000 | &nbsp;&nbsp;&nbsp; 1428074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.687%, SOFR + 1.320%, 04/22/32 (a) | 560000 | &nbsp;&nbsp;&nbsp; 510149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.972%, SOFR + 1.330%, 02/04/33 (a) | 100000 | &nbsp;&nbsp;&nbsp; 91064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.970%, 3M TSFR + 1.332%, 03/05/29 (a) | 990000 | &nbsp;&nbsp;&nbsp; 985187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.511%, SOFR + 1.310%, 01/24/36 (a) (d) | 270000 | &nbsp;&nbsp;&nbsp; 282234 |
| Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.914%, 05/29/30 (d) | 1060000 | &nbsp;&nbsp;&nbsp; 1089078 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.462%, SOFR + 0.770%, 06/09/27 (a) (d) | 80000 | &nbsp;&nbsp;&nbsp; 78478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.057%, SOFR + 1.351%, 01/25/33 (a) (d) | 885000 | &nbsp;&nbsp;&nbsp; 805687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.333%, SOFR + 1.465%, 03/27/36 (a) (d) | 925000 | &nbsp;&nbsp;&nbsp; 945537 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.431%, SOFR + 0.798%, 03/09/27 (a) (d) | 4250000 | &nbsp;&nbsp;&nbsp; 4195290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.542%, SOFR + 0.818%, 09/10/27 (a) (d) | 1372000 | &nbsp;&nbsp;&nbsp; 1338139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.948%, SOFR + 0.913%, 10/21/27 (a) | 1550000 | &nbsp;&nbsp;&nbsp; 1513520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.016%, SOFR + 1.420%, 10/23/35 (a) (d) | 900000 | &nbsp;&nbsp;&nbsp; 905984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.536%, SOFR + 1.380%, 01/28/36 (a) (d) | 200000 | &nbsp;&nbsp;&nbsp; 208769 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.013%, SOFR + 1.732%, 09/22/28 (a) | 895000 | &nbsp;&nbsp;&nbsp; 857431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.755%, SOFR + 2.110%, 06/09/28 (a) (d) | 150000 | &nbsp;&nbsp;&nbsp; 151250 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.040%, 3M TSFR + 0.695%, 02/04/27 (a) | 2430000 | &nbsp;&nbsp;&nbsp; 2403168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.045%, SOFR + 0.800%, 11/19/26 (a) (d) | 435000 | &nbsp;&nbsp;&nbsp; 433051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.578%, SOFR + 0.885%, 04/22/27 (a) | 5695000 | &nbsp;&nbsp;&nbsp; 5613156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.953%, SOFR + 1.065%, 02/04/32 (a) | 215000 | &nbsp;&nbsp;&nbsp; 190053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.182%, SOFR + 1.890%, 06/01/28 (a) (d) | 580000 | &nbsp;&nbsp;&nbsp; 562197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.545%, SOFR + 1.180%, 11/08/32 (a) (d) | 425000 | &nbsp;&nbsp;&nbsp; 381191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.580%, 3M TSFR + 1.250%, 04/22/32 (a) (d) | 295000 | &nbsp;&nbsp;&nbsp; 268100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.739%, 3M TSFR + 1.510%, 10/15/30 (a) (d) | 1215000 | &nbsp;&nbsp;&nbsp; 1147446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.947%, SOFR + 1.170%, 02/24/28 (a) | 1250000 | &nbsp;&nbsp;&nbsp; 1230382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.946%, SOFR + 1.340%, 10/22/35 (a) (d) | 955000 | &nbsp;&nbsp;&nbsp; 963112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.502%, SOFR + 1.315%, 01/24/36 (a) (d) | 90000 | &nbsp;&nbsp;&nbsp; 94159 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.928%, SOFR + 1.020%, 04/28/32 (a) | 300000 | &nbsp;&nbsp;&nbsp; 261818 |

---

**BHFTI-328**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Banks—(Continued)** | **Banks—(Continued)** | **Banks—(Continued)** |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.239%, SOFR + 1.178%, 07/21/32 (a) | 475000 | &nbsp;&nbsp;&nbsp; $419517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.475%, SOFR + 1.000%, 01/21/28 (a) | 1275000 | &nbsp;&nbsp;&nbsp; 1247931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.511%, SOFR + 1.200%, 10/20/32 (a) (d) | 670000 | &nbsp;&nbsp;&nbsp; 597746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.943%, SOFR + 1.290%, 01/21/33 (a) | 565000 | &nbsp;&nbsp;&nbsp; 513672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.587%, SOFR + 1.418%, 01/18/36 (a) | 1035000 | &nbsp;&nbsp;&nbsp; 1083652 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, SOFR + 2.284%, 10/20/34 (a) (d) | 390000 | &nbsp;&nbsp;&nbsp; 441851 |
| Santander U.K. Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.469%, SOFR + 1.220%, 01/11/28 (a) | 540000 | &nbsp;&nbsp;&nbsp; 527427 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, SOFR + 2.090%, 10/21/33 (a) (d) | 150000 | &nbsp;&nbsp;&nbsp; 159946 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.393%, SOFR + 2.100%, 06/02/28 (a) (d) | 4790000 | &nbsp;&nbsp;&nbsp; 4656384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, SOFR + 1.500%, 03/02/33 (a) | 85000 | &nbsp;&nbsp;&nbsp; 79124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.897%, SOFR + 2.100%, 07/25/33 (a) (d) | 1265000 | &nbsp;&nbsp;&nbsp; 1285150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.211%, SOFR + 1.380%, 12/03/35 (a) (d) | 265000 | &nbsp;&nbsp;&nbsp; 270762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.244%, SOFR + 1.110%, 01/24/31 (a) (d) | 925000 | &nbsp;&nbsp;&nbsp; 957012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.574%, SOFR + 1.740%, 07/25/29 (a) | 610000 | &nbsp;&nbsp;&nbsp; 632175 |
|  |  | &nbsp;&nbsp;&nbsp; 50159105 |
| **Beverages — 0.3%** | **Beverages — 0.3%** | **Beverages — 0.3%** |
| Bacardi Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 05/15/48 (144A) | 605000 | &nbsp;&nbsp;&nbsp; 549244 |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/01/31 (d) | 2165000 | &nbsp;&nbsp;&nbsp; 1908404 |
| Diageo Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 08/15/30 | 1330000 | &nbsp;&nbsp;&nbsp; 1377976 |
|  |  | &nbsp;&nbsp;&nbsp; 3835624 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/01/30 (144A) | 3628000 | &nbsp;&nbsp;&nbsp; 3246206 |
| **Commercial Services — 0.1%** | **Commercial Services — 0.1%** | **Commercial Services — 0.1%** |
| Rollins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/24/35 | 1585000 | &nbsp;&nbsp;&nbsp; 1612941 |
| **Computers — 0.3%** | **Computers — 0.3%** | **Computers — 0.3%** |
| Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/31 | 2615000 | &nbsp;&nbsp;&nbsp; 2608955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/30 (d) | 1245000 | &nbsp;&nbsp;&nbsp; 1275255 |
|  |  | &nbsp;&nbsp;&nbsp; 3884210 |
| **Diversified Financial Services — 0.3%** | **Diversified Financial Services — 0.3%** | **Diversified Financial Services — 0.3%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/29/28 (d) | 2195000 | &nbsp;&nbsp;&nbsp; 2115305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/06/28 (d) | 455000 | &nbsp;&nbsp;&nbsp; 471421 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.667%, SOFR + 1.790%, 04/25/36 (a) (d) | 1215000 | &nbsp;&nbsp;&nbsp; 1283652 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.528%, 11/18/27 (144A) | 560000 | &nbsp;&nbsp;&nbsp; 538414 |
|  |  | &nbsp;&nbsp;&nbsp; 4408792 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Electric — 2.8%** | **Electric — 2.8%** | **Electric — 2.8%** |
| AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 04/01/34 | 935000 | &nbsp;&nbsp;&nbsp; $953768 |
| Alliant Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5Y H15 + 2.077%, 04/01/56 (a) | 1050000 | &nbsp;&nbsp;&nbsp; 1051314 |
| American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 5Y H15 + 2.128%, 03/15/56 (a) (d) | 560000 | &nbsp;&nbsp;&nbsp; 558038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 5Y H15 + 1.940%, 03/15/56 (a) | 1400000 | &nbsp;&nbsp;&nbsp; 1401969 |
| Appalachian Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 06/01/27 | 760000 | &nbsp;&nbsp;&nbsp; 749131 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 08/15/34 (d) | 2595000 | &nbsp;&nbsp;&nbsp; 2718910 |
| CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 5Y H15 + 2.223%, 04/01/56 (a) | 1265000 | &nbsp;&nbsp;&nbsp; 1265000 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5Y H15 + 2.262%, 02/15/56 (a) (d) | 800000 | &nbsp;&nbsp;&nbsp; 805723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 5Y H15 + 2.006%, 02/15/56 (a) (d) | 1405000 | &nbsp;&nbsp;&nbsp; 1414194 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/41 | 1300000 | &nbsp;&nbsp;&nbsp; 1148262 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 05/15/42 | 1000000 | &nbsp;&nbsp;&nbsp; 856381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 03/15/43 | 2325000 | &nbsp;&nbsp;&nbsp; 1982035 |
| Evergy Missouri West, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 06/01/34 (144A) (d) | 2155000 | &nbsp;&nbsp;&nbsp; 2223894 |
| Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 07/01/27 (d) | 1660000 | &nbsp;&nbsp;&nbsp; 1669371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 02/01/29 (d) | 1160000 | &nbsp;&nbsp;&nbsp; 1214561 |
| FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 03/15/28 (144A) | 570000 | &nbsp;&nbsp;&nbsp; 556251 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.990%, 03/01/49 | 2000000 | &nbsp;&nbsp;&nbsp; 1613829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 03/15/55 | 285000 | &nbsp;&nbsp;&nbsp; 295417 |
| International Transmission Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/15/43 | 2500000 | &nbsp;&nbsp;&nbsp; 2203989 |
| MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/15/43 | 905000 | &nbsp;&nbsp;&nbsp; 834916 |
| Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 04/01/35 (144A) | 1835000 | &nbsp;&nbsp;&nbsp; 1897936 |
| Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/01/53 (d) | 1545000 | &nbsp;&nbsp;&nbsp; 1462920 |
| Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5Y H15 + 2.915%, 09/15/51 (a) | 2500000 | &nbsp;&nbsp;&nbsp; 2466661 |
| Southwestern Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 09/15/28 | 3000000 | &nbsp;&nbsp;&nbsp; 2990359 |
| Trans-Allegheny Interstate Line Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/31 (144A) (d) | 2500000 | &nbsp;&nbsp;&nbsp; 2563253 |
|  |  | &nbsp;&nbsp;&nbsp; 36898082 |
| **Food — 0.3%** | **Food — 0.3%** | **Food — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. <br> SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/32 | 25000 | &nbsp;&nbsp;&nbsp; 22367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/33 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1044330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/52 | 810000 | &nbsp;&nbsp;&nbsp; 853529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/34 | 1051000 | &nbsp;&nbsp;&nbsp; 1161884 |

---

**BHFTI-329**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Food—(Continued)** | **Food—(Continued)** | **Food—(Continued)** |
| Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/32 (d) | 1200000 | &nbsp;&nbsp;&nbsp; $1098406 |
|  |  | &nbsp;&nbsp;&nbsp; 4180516 |
| **Gas — 1.2%** | **Gas — 1.2%** | **Gas — 1.2%** |
| Brooklyn Union Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.407%, 03/10/26 (144A) (d) | 2500000 | &nbsp;&nbsp;&nbsp; 2490520 |
| CenterPoint Energy Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 07/01/34 (d) | 2155000 | &nbsp;&nbsp;&nbsp; 2224762 |
| East Ohio Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 06/15/30 (144A) (d) | 1780000 | &nbsp;&nbsp;&nbsp; 1602274 |
| KeySpan Gas East Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.586%, 01/18/52 (144A) | 5000000 | &nbsp;&nbsp;&nbsp; 3394942 |
| Piedmont Natural Gas Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 02/15/35 (d) | 1175000 | &nbsp;&nbsp;&nbsp; 1195266 |
| Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 06/15/26 (d) | 4000000 | &nbsp;&nbsp;&nbsp; 3975165 |
| Spire, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 08/15/44 | 1000000 | &nbsp;&nbsp;&nbsp; 850961 |
|  |  | &nbsp;&nbsp;&nbsp; 15733890 |
| **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/30 | 1727000 | &nbsp;&nbsp;&nbsp; 1543139 |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 03/15/51 (d) | 739000 | &nbsp;&nbsp;&nbsp; 514201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/15/36 (d) | 1435000 | &nbsp;&nbsp;&nbsp; 1453288 |
| CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.782%, 10/01/30 (d) | 870000 | &nbsp;&nbsp;&nbsp; 804034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.347%, 10/01/29 (d) | 110000 | &nbsp;&nbsp;&nbsp; 106240 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/36 (d) | 1970000 | &nbsp;&nbsp;&nbsp; 1955666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 02/15/35 (d) | 1905000 | &nbsp;&nbsp;&nbsp; 1941542 |
| Fresenius Medical Care U.S. Finance III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 12/01/26 (144A) | 2050000 | &nbsp;&nbsp;&nbsp; 1985707 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/15/26 (d) | 805000 | &nbsp;&nbsp;&nbsp; 806595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/01/29 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2082315 |
| Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/23/29 (d) | 4685000 | &nbsp;&nbsp;&nbsp; 4578338 |
| New York & Presbyterian Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.563%, 08/01/36 | 4490000 | &nbsp;&nbsp;&nbsp; 3982009 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 07/15/34 (d) | 3785000 | &nbsp;&nbsp;&nbsp; 3884761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/54 (d) | 1600000 | &nbsp;&nbsp;&nbsp; 1591340 |
|  |  | &nbsp;&nbsp;&nbsp; 27229175 |
| **Insurance — 0.4%** | **Insurance — 0.4%** | **Insurance — 0.4%** |
| Farmers Exchange Capital III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.454%, 3M TSFR + 3.716%, 10/15/54 (144A) (a) | 3530000 | &nbsp;&nbsp;&nbsp; 3304743 |
| Farmers Insurance Exchange |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.747%, 11/01/57 (144A) | 90000 | &nbsp;&nbsp;&nbsp; 75739 |
| NLG Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 09/15/30 (144A) | 2000000 | &nbsp;&nbsp;&nbsp; 1979039 |
|  |  | &nbsp;&nbsp;&nbsp; 5359521 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Internet — 0.2%** | **Internet — 0.2%** | **Internet — 0.2%** |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/15/34 | 2150000 | &nbsp;&nbsp;&nbsp; $2154036 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/14/30 | 1220000 | &nbsp;&nbsp;&nbsp; 1270438 |
| **Media — 0.3%** | **Media — 0.3%** | **Media — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/01/35 (d) | 1600000 | &nbsp;&nbsp;&nbsp; 1615284 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/15/42 | 20000 | &nbsp;&nbsp;&nbsp; 16069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/41 | 430000 | &nbsp;&nbsp;&nbsp; 394070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/40 | 1850000 | &nbsp;&nbsp;&nbsp; 1768365 |
|  |  | &nbsp;&nbsp;&nbsp; 3793788 |
| **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/21/47 | 647000 | &nbsp;&nbsp;&nbsp; 533973 |
| **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** |
| Amcor Finance USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 04/28/26 (d) | 2625000 | &nbsp;&nbsp;&nbsp; 2612585 |
| Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/17/35 (d) | 1680000 | &nbsp;&nbsp;&nbsp; 1729908 |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.570%, 01/15/26 (d) | 1587000 | &nbsp;&nbsp;&nbsp; 1573328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 01/15/27 (d) | 2631000 | &nbsp;&nbsp;&nbsp; 2548638 |
|  |  | &nbsp;&nbsp;&nbsp; 8464459 |
| **Pharmaceuticals — 0.7%** | **Pharmaceuticals — 0.7%** | **Pharmaceuticals — 0.7%** |
| Bayer U.S. Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/15/28 (144A) | 2776000 | &nbsp;&nbsp;&nbsp; 2766105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 07/15/44 (144A) (d) | 1205000 | &nbsp;&nbsp;&nbsp; 966061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/25/38 (144A) (d) | 1250000 | &nbsp;&nbsp;&nbsp; 1131691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/25/48 (144A) | 565000 | &nbsp;&nbsp;&nbsp; 476948 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 03/25/38 (d) | 305000 | &nbsp;&nbsp;&nbsp; 285857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/25/48 | 2555000 | &nbsp;&nbsp;&nbsp; 2273279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/20/45 | 538000 | &nbsp;&nbsp;&nbsp; 488377 |
| Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/35 (d) | 1175000 | &nbsp;&nbsp;&nbsp; 1221438 |
|  |  | &nbsp;&nbsp;&nbsp; 9609756 |
| **Pipelines — 0.0%** | **Pipelines — 0.0%** | **Pipelines — 0.0%** |
| TransCanada PipeLines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/34 (d) | 145000 | &nbsp;&nbsp;&nbsp; 141355 |
| **Real Estate Investment Trusts — 1.1%** | **Real Estate Investment Trusts — 1.1%** | **Real Estate Investment Trusts — 1.1%** |
| American Assets Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/01/31 | 1950000 | &nbsp;&nbsp;&nbsp; 1770932 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 07/15/31 (d) | 975000 | &nbsp;&nbsp;&nbsp; 863711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 07/15/51 | 315000 | &nbsp;&nbsp;&nbsp; 211334 |

---

**BHFTI-330**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Corporate Bonds & Notes—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** | **Real Estate Investment Trusts—(Continued)** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 09/15/31 (d) | 2404000 | &nbsp;&nbsp;&nbsp; $2124073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 04/15/31 (d) | 1396000 | &nbsp;&nbsp;&nbsp; 1273627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 07/15/33 | 710000 | &nbsp;&nbsp;&nbsp; 743247 |
| Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 10/15/31 | 349000 | &nbsp;&nbsp;&nbsp; 307324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 04/01/29 | 320000 | &nbsp;&nbsp;&nbsp; 315484 |
| GLP Capital LP/GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/31 | 60000 | &nbsp;&nbsp;&nbsp; 57427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/01/28 | 2000000 | &nbsp;&nbsp;&nbsp; 2055460 |
| Healthcare Realty Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/26 | 2399000 | &nbsp;&nbsp;&nbsp; 2381741 |
| Hudson Pacific Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/15/30 (d) | 796000 | &nbsp;&nbsp;&nbsp; 683573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 11/01/27 | 24000 | &nbsp;&nbsp;&nbsp; 23088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 04/01/29 | 4000 | &nbsp;&nbsp;&nbsp; 3722 |
| Invitation Homes Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/15/31 | 964000 | &nbsp;&nbsp;&nbsp; 832959 |
| LXP Industrial Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/15/28 (d) | 410000 | &nbsp;&nbsp;&nbsp; 435820 |
| VICI Properties LP/VICI Note Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/29 (144A) | 450000 | &nbsp;&nbsp;&nbsp; 439352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/30 (144A) | 57000 | &nbsp;&nbsp;&nbsp; 55087 |
|  |  | &nbsp;&nbsp;&nbsp; 14577961 |
| **Retail — 0.2%** | **Retail — 0.2%** | **Retail — 0.2%** |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 03/03/35 (d) | 1850000 | &nbsp;&nbsp;&nbsp; 1874342 |
| Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 05/15/35 (d) | 345000 | &nbsp;&nbsp;&nbsp; 357723 |
|  |  | &nbsp;&nbsp;&nbsp; 2232065 |
| **Semiconductors — 0.2%** | **Semiconductors — 0.2%** | **Semiconductors — 0.2%** |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/25/31 (144A) | 105000 | &nbsp;&nbsp;&nbsp; 108955 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/12/31 (d) | 765000 | &nbsp;&nbsp;&nbsp; 669173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 08/12/51 | 819000 | &nbsp;&nbsp;&nbsp; 519640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/15/49 | 905000 | &nbsp;&nbsp;&nbsp; 601362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.734%, 12/08/47 (d) | 195000 | &nbsp;&nbsp;&nbsp; 144030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 08/05/52 | 160000 | &nbsp;&nbsp;&nbsp; 137618 |
|  |  | &nbsp;&nbsp;&nbsp; 2180778 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/01/27 (144A) (d) | 2060000 | &nbsp;&nbsp;&nbsp; 2143259 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 03/25/51 | 1745000 | &nbsp;&nbsp;&nbsp; 1297422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 08/03/28 | 970000 | &nbsp;&nbsp;&nbsp; 986325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 09/26/35 (d) | 2350000 | &nbsp;&nbsp;&nbsp; 2362940 |
| Paychex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 04/15/32 | 1370000 | &nbsp;&nbsp;&nbsp; 1421571 |
|  |  | &nbsp;&nbsp;&nbsp; 8211517 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Telecommunications — 0.6%** | **Telecommunications — 0.6%** | **Telecommunications — 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint <br> Spectrum Co. III LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.152%, 09/20/29 (144A) | 825000 | &nbsp;&nbsp;&nbsp; $828122 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/15/31 | 4000000 | &nbsp;&nbsp;&nbsp; 3804946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/15/27 | 2145000 | &nbsp;&nbsp;&nbsp; 2132248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/15/32 | 990000 | &nbsp;&nbsp;&nbsp; 1018866 |
|  |  | &nbsp;&nbsp;&nbsp; 7784182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $228,794,110) <br>|  | &nbsp;&nbsp;&nbsp; 225530467 |
| **Non-Agency Mortgage-Backed Securities—9.5%** | **Non-Agency Mortgage-Backed Securities—9.5%** | **Non-Agency Mortgage-Backed Securities—9.5%** |
| **Collateralized Mortgage Obligations — 5.0%** | **Collateralized Mortgage Obligations — 5.0%** | **Collateralized Mortgage Obligations — 5.0%** |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.353%, 01/25/67 (144A) (a) | 5563853 | &nbsp;&nbsp;&nbsp; 5276790 |
| CIM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.951%, 06/25/57 (144A) (a) | 3228963 | &nbsp;&nbsp;&nbsp; 3001984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/01/61 (144A) (a) | 3958111 | &nbsp;&nbsp;&nbsp; 3669032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/25/61 (144A) (a) | 3599629 | &nbsp;&nbsp;&nbsp; 3198058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/59 (144A) (a) | 3184015 | &nbsp;&nbsp;&nbsp; 2987054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 04/25/62 (144A) (a) | 5465290 | &nbsp;&nbsp;&nbsp; 5448736 |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 09/25/57 (144A) (a) | 3117366 | &nbsp;&nbsp;&nbsp; 3011358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.547%, 05/25/67 (144A) (a) | 3115374 | &nbsp;&nbsp;&nbsp; 3104316 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/25/55 (144A) (a) | 3823194 | &nbsp;&nbsp;&nbsp; 3875464 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/25/55 (144A) (a) | 3639811 | &nbsp;&nbsp;&nbsp; 3659164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/25/55 (144A) (a) | 3456168 | &nbsp;&nbsp;&nbsp; 3471742 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/25/51 (144A) (a) | 4690384 | &nbsp;&nbsp;&nbsp; 4381590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/25/52 (144A) (a) | 8295016 | &nbsp;&nbsp;&nbsp; 7402640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/25/55 (144A) (a) | 2232654 | &nbsp;&nbsp;&nbsp; 2243459 |
| PHH Alternative Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.872%, 1M TSFR + 0.714%, 07/25/37 (a) | 2336718 | &nbsp;&nbsp;&nbsp; 2300528 |
| PRKCM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 04/25/57 (144A) (a) | 4933842 | &nbsp;&nbsp;&nbsp; 4907743 |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.852%, 1M TSFR + 0.694%, 10/25/45 (a) | 1174276 | &nbsp;&nbsp;&nbsp; 1161696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.468%, 06/25/34 (a) | 1963121 | &nbsp;&nbsp;&nbsp; 1921865 |
|  |  | &nbsp;&nbsp;&nbsp; 65023219 |
| **Commercial Mortgage-Backed Securities — 4.5%** | **Commercial Mortgage-Backed Securities — 4.5%** | **Commercial Mortgage-Backed Securities — 4.5%** |
| ALA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.894%, 1M TSFR + 1.743%, 06/15/40 (144A) (a) | 3100000 | &nbsp;&nbsp;&nbsp; 3115500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.994%, 1M TSFR + 1.842%, 06/15/40 (144A) (a) | 2550000 | &nbsp;&nbsp;&nbsp; 2565931 |
| Arbor Realty Commercial Real Estate Notes LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.968%, 1M TSFR + 1.833%, 01/20/43 (144A) (a) | 2513000 | &nbsp;&nbsp;&nbsp; 2523202 |
| BAMLL Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.227%, 08/10/38 (144A) (a) | 3265000 | &nbsp;&nbsp;&nbsp; 3182708 |
| Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.493%, 06/15/55 (a) | 4231000 | &nbsp;&nbsp;&nbsp; 4151556 |
| BPR Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.497%, 12/05/39 (144A) | 3150000 | &nbsp;&nbsp;&nbsp; 3279569 |

---

**BHFTI-331**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** | **Commercial Mortgage-Backed Securities—(Continued)** |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.202%, 12/09/41 (144A) | 895000 | &nbsp;&nbsp;&nbsp; $845764 |
| Century Plaza Towers |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.865%, 11/13/39 (144A) | 2930000 | &nbsp;&nbsp;&nbsp; 2696492 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.561%, 03/15/53 | 3384500 | &nbsp;&nbsp;&nbsp; 3070956 |
| DC Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.965%, 09/15/45 (144A) | 1850000 | &nbsp;&nbsp;&nbsp; 1685275 |
| DGWD Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 1M TSFR + 1.800%, 08/15/35 (144A) (a) | 3050000 | &nbsp;&nbsp;&nbsp; 3047988 |
| Hudson Yards Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.041%, 12/10/41 (144A) (a) | 1850000 | &nbsp;&nbsp;&nbsp; 1732536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.228%, 07/10/39 (144A) | 1875000 | &nbsp;&nbsp;&nbsp; 1782525 |
| JP Morgan Chase Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.397%, 06/05/39 (144A) | 2000000 | &nbsp;&nbsp;&nbsp; 1889333 |
| LCCM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.551%, 07/12/50 (144A) | 2834000 | &nbsp;&nbsp;&nbsp; 2785632 |
| NY Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/10/47 (144A) (a) | 2350000 | &nbsp;&nbsp;&nbsp; 2443797 |
| NYC Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.833%, 06/10/42 (144A) | 2189000 | &nbsp;&nbsp;&nbsp; 2200305 |
| One Bryant Park Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.516%, 09/15/54 (144A) | 2390000 | &nbsp;&nbsp;&nbsp; 2201155 |
| SCG Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 1M TSFR + 1.750%, 08/15/42 (144A) (a) | 2250000 | &nbsp;&nbsp;&nbsp; 2251406 |
| SCG Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 1M TSFR + 1.650%, 09/15/30 (144A) (a) | 3275000 | &nbsp;&nbsp;&nbsp; 3276027 |
| SFAVE Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.872%, 01/05/43 (144A) (a) | 2219000 | &nbsp;&nbsp;&nbsp; 1926421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.144%, 01/05/43 (144A) (a) | 110000 | &nbsp;&nbsp;&nbsp; 95986 |
| SMRT Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.501%, 1M TSFR + 3.350%, 01/15/39 (144A) (a) | 3500000 | &nbsp;&nbsp;&nbsp; 3412500 |
| VTR Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.504%, 10/13/41 (144A) (a) | 3265000 | &nbsp;&nbsp;&nbsp; 3260287 |
|  |  | &nbsp;&nbsp;&nbsp; 59422851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $127,186,366) <br>|  | &nbsp;&nbsp;&nbsp; 124446070 |
| **Asset-Backed Securities—8.7%** | **Asset-Backed Securities—8.7%** | **Asset-Backed Securities—8.7%** |
| **Asset-Backed - Home Equity — 0.8%** | **Asset-Backed - Home Equity — 0.8%** | **Asset-Backed - Home Equity — 0.8%** |
| New Century Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.052%, 1M TSFR + 0.894%, 08/25/34 (a) | 4074286 | &nbsp;&nbsp;&nbsp; 4044317 |
| Soundview Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.482%, 1M TSFR + 0.324%, 06/25/37 (a) | 8812687 | &nbsp;&nbsp;&nbsp; 5858082 |
|  |  | &nbsp;&nbsp;&nbsp; 9902399 |
| **Asset-Backed - Other — 6.8%** | **Asset-Backed - Other — 6.8%** | **Asset-Backed - Other — 6.8%** |
| AGL CLO 12 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.747%, 3M TSFR + 1.422%, 07/20/34 (144A) (a) | 5400000 | &nbsp;&nbsp;&nbsp; 5407474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-<br> Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 1M TSFR + 0.864%, 01/25/36 (a) | 3212708 | &nbsp;&nbsp;&nbsp; 3167245 |
| Apidos CLO XXV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 3M TSFR + 1.140%, 01/20/37 (144A) (a) | 2610000 | &nbsp;&nbsp;&nbsp; 2609058 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** | **Asset-Backed - Other—(Continued)** |
| Buttermilk Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.688%, 3M TSFR + 1.370%, 10/15/31 (144A) (a) | 4600000 | &nbsp;&nbsp;&nbsp; $4592166 |
| Carrington Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 1M TSFR + 0.254%, 12/25/36 (a) | 3783919 | &nbsp;&nbsp;&nbsp; 3716489 |
| CIFC Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.312%, 3M TSFR + 0.990%, 01/17/35 (144A) (a) | 3160000 | &nbsp;&nbsp;&nbsp; 3161472 |
| Clover CLO LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, 3M TSFR + 1.530%, 04/20/37 (144A) (a) | 5000000 | &nbsp;&nbsp;&nbsp; 5012010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Communications LLC/Fidium Fiber Finance <br> Holdco LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/20/55 (144A) | 1105000 | &nbsp;&nbsp;&nbsp; 1132434 |
| Countrywide Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.622%, 1M TSFR + 1.464%, 08/25/47 (a) | 5345281 | &nbsp;&nbsp;&nbsp; 5043259 |
| CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.760%, 03/22/49 (144A) | 3380000 | &nbsp;&nbsp;&nbsp; 3344276 |
| Dryden 72 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.311%, 3M TSFR + 1.100%, 05/15/32 (144A) (a) | 2663498 | &nbsp;&nbsp;&nbsp; 2665003 |
| Dryden 95 CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.804%, 3M TSFR + 1.600%, 08/20/34 (144A) (a) | 3220000 | &nbsp;&nbsp;&nbsp; 3224064 |
| Dryden XXVI Senior Loan Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.479%, 3M TSFR + 1.162%, 04/15/29 (144A) (a) | 525223 | &nbsp;&nbsp;&nbsp; 525155 |
| Flexential Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/27/51 (144A) | 4753000 | &nbsp;&nbsp;&nbsp; 4613643 |
| Galaxy XXII CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.558%, 3M TSFR + 1.240%, 04/16/34 (144A) (a) | 3000000 | &nbsp;&nbsp;&nbsp; 3002127 |
| Gracie Point International Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.854%, SOFR30A + 1.500%, 08/15/28 (144A) (a) | 1935000 | &nbsp;&nbsp;&nbsp; 1938609 |
| JP Morgan Mortgage Acquisition Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.797%, 1M TSFR + 0.639%, 01/25/37 (a) | 8307000 | &nbsp;&nbsp;&nbsp; 7774397 |
| LCM 37 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.378%, 3M TSFR + 1.060%, 04/15/34 (144A) (a) | 3667060 | &nbsp;&nbsp;&nbsp; 3665443 |
| Neuberger Berman CLO XVI-S Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.498%, 3M TSFR + 1.180%, 04/15/39 (144A) (a) | 3000000 | &nbsp;&nbsp;&nbsp; 3002391 |
| Palmer Square Loan Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.718%, 3M TSFR + 1.400%, 04/15/31 (144A) (a) | 3600000 | &nbsp;&nbsp;&nbsp; 3605353 |
| Park Avenue Institutional Advisers CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 3M TSFR + 1.070%, 02/14/34 (144A) (a) | 2700000 | &nbsp;&nbsp;&nbsp; 2700000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.343%, 3M TSFR + 1.110%, 01/20/34 (144A) (a) | 2800000 | &nbsp;&nbsp;&nbsp; 2799745 |
| Rockford Tower CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.334%, 3M TSFR + 1.130%, 08/20/32 (144A) (a) | 2778643 | &nbsp;&nbsp;&nbsp; 2782055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.777%, 3M TSFR + 1.452%, 10/20/30 (144A) (a) | 1068925 | &nbsp;&nbsp;&nbsp; 1068861 |
| Structured Asset Investment Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.072%, 1M TSFR + 0.914%, 07/25/34 (a) | 973807 | &nbsp;&nbsp;&nbsp; 1014252 |
| TIF Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.090%, 08/20/45 (144A) | 3898142 | &nbsp;&nbsp;&nbsp; 3702176 |
| Vantage Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.165%, 10/15/46 (144A) | 2015000 | &nbsp;&nbsp;&nbsp; 1962066 |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.783%, 06/15/49 (144A) | 1650032 | &nbsp;&nbsp;&nbsp; 1640167 |
|  |  | &nbsp;&nbsp;&nbsp; 88871390 |
| **Asset-Backed - Student Loan — 1.1%** | **Asset-Backed - Student Loan — 1.1%** | **Asset-Backed - Student Loan — 1.1%** |
| Navient Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.971%, SOFR30A + 1.614%, 10/25/58 (a) | 2470000 | &nbsp;&nbsp;&nbsp; 2300694 |
| SLM Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.932%, SOFR90A + 0.592%, 01/25/28 (a) | 910579 | &nbsp;&nbsp;&nbsp; 896884 |

---

**BHFTI-332**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Asset-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Asset-Backed - Student Loan—(Continued)** | **Asset-Backed - Student Loan—(Continued)** | **Asset-Backed - Student Loan—(Continued)** |
| SLM Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, SOFR90A + 0.632%, 01/25/40 (a) | 1900764 | &nbsp;&nbsp;&nbsp; $1639723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.829%, SOFR90A + 1.462%, 12/15/33 (144A) (a) | 1867791 | &nbsp;&nbsp;&nbsp; 1834109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.271%, SOFR30A + 1.914%, 09/25/43 (a) | 5800000 | &nbsp;&nbsp;&nbsp; 5576173 |
| Wachovia Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, SOFR90A + 0.432%, 04/25/40 (144A) (a) | 1917045 | &nbsp;&nbsp;&nbsp; 1895573 |
|  |  | &nbsp;&nbsp;&nbsp; 14143156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $112,582,836) <br>|  | &nbsp;&nbsp;&nbsp; 112916945 |
| **Municipals—0.9%** | **Municipals—0.9%** | **Municipals—0.9%** |
| City of New York, General Obligation Unlimited |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.968%, 03/01/36 | 1750000 | &nbsp;&nbsp;&nbsp; 1844032 |
| County of Miami-Dade Aviation Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.555%, 10/01/34 | 600000 | &nbsp;&nbsp;&nbsp; 556017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamar Consolidated Independent School District, General <br> Obligation Unlimited<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/58 | 625000 | &nbsp;&nbsp;&nbsp; 641576 |
| &nbsp;&nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax <br> Secured Revenue<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 11/01/30 | 1250000 | &nbsp;&nbsp;&nbsp; 1250463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.267%, 05/01/27 | 2150000 | &nbsp;&nbsp;&nbsp; 2193940 |
| New York State Dormitory Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/54 | 625000 | &nbsp;&nbsp;&nbsp; 646256 |
| New York State Thruway Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/53 | 835000 | &nbsp;&nbsp;&nbsp; 855816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/59 | 1765000 | &nbsp;&nbsp;&nbsp; 1823230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northwest Independent School District, General Obligation <br> Unlimited<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/55 | 675000 | &nbsp;&nbsp;&nbsp; 701520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pasadena Independent School District, General Obligation <br> Unlimited<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/15/53 | 5000 | &nbsp;&nbsp;&nbsp; 4801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regents of the University of California Medical Center Pooled <br> Revenue<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.256%, 05/15/60 | 1420000 | &nbsp;&nbsp;&nbsp; 911381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salado Independent School District, General Obligation <br> Unlimited<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/50 | 610000 | &nbsp;&nbsp;&nbsp; 620966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Municipals <br>(Cost $12,651,715) <br>|  | &nbsp;&nbsp;&nbsp; 12049998 |
| **Foreign Government—0.1%** | **Foreign Government—0.1%** | **Foreign Government—0.1%** |
| **Sovereign — 0.1%** | **Sovereign — 0.1%** | **Sovereign — 0.1%** |
| Israel Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/19/30 (d) <br>(Cost $843,534)<br>| 850000 | &nbsp;&nbsp;&nbsp; 876749 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—12.1%** | **Short-Term Investments—12.1%** | **Short-Term Investments—12.1%** |
| **U.S. Treasury—5.7%** | **U.S. Treasury—5.7%** | **U.S. Treasury—5.7%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.661%, 10/07/25 (e) | 44310000 | &nbsp;&nbsp;&nbsp; 44279963 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***/<br> **Shares**<br>| <br>**Value**<br>|
| **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** | **U.S. Treasury—(Continued)** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/21/25 (e) | 30290000 | &nbsp;&nbsp;&nbsp; $30221949 |
|  |  | &nbsp;&nbsp;&nbsp; 74501912 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investment Funds—6.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund, <br> Premier Class<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090% (f) | 82728663 | &nbsp;&nbsp;&nbsp; 82728663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $157,226,980) <br>|  | &nbsp;&nbsp;&nbsp; 157230575 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (g)—9.9%** | **Securities Lending Reinvestments (g)—9.9%** | **Securities Lending Reinvestments (g)—9.9%** |
| **Short-Term Investment Funds—1.2%** | **Short-Term Investment Funds—1.2%** | **Short-Term Investment Funds—1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Class 4.000% (f)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity Investments Money Market Government Portfolio, <br>Institutional Class 4.040% (f)<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco STIT-Government & Agency Portfolio, <br>Institutional Class 4.050% (f)<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
|  |  | &nbsp;&nbsp;&nbsp; 16000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Certificates of Deposit—1.0%** | **Certificates of Deposit—1.0%** | **Certificates of Deposit—1.0%** |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (a) | 3000000 | &nbsp;&nbsp;&nbsp; 3002901 |
| Credit Agricole Corp. and Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.370%, SOFR + 0.240%, 12/03/25 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 999978 |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 11/21/25 (a) | 3000000 | &nbsp;&nbsp;&nbsp; 3000255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 1000131 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (a) | 3000000 | &nbsp;&nbsp;&nbsp; 3000165 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/14/25 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 1000067 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 03/20/26 (a) | 1000000 | &nbsp;&nbsp;&nbsp; 1000277 |
|  |  | &nbsp;&nbsp;&nbsp; 13003774 |
| **Commercial Paper—0.2%** | **Commercial Paper—0.2%** | **Commercial Paper—0.2%** |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999518 |
| Salisbury Receivables Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 12/11/25 | 1000000 | &nbsp;&nbsp;&nbsp; 991606 |
|  |  | &nbsp;&nbsp;&nbsp; 2991124 |
| **Repurchase Agreements—5.4%** | **Repurchase Agreements—5.4%** | **Repurchase Agreements—5.4%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $10,001,167; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,123,358<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.220%, due on <br> 10/01/25 with a maturity value of $200,023; collateralized <br> by various Common Stock with an aggregate market value of <br> $222,467<br>| 200000 | &nbsp;&nbsp;&nbsp; 200000 |

---

**BHFTI-333**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (g)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $1,000,119; <br> collateralized by various Common Stock with an aggregate <br> market value of $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,011,541; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 07/15/26 - 10/15/28, and various Common Stock with an <br> aggregate market value of $1,114,015<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| Barclays Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.180%, due on <br> 10/01/25 with a maturity value of $10,001,161; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 1.375% - 4.625%, maturity dates ranging from <br> 06/15/27 - 10/31/28, and an aggregate market value of <br> $10,200,005<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $5,119,589; <br> collateralized by various Common Stock with an aggregate <br> market value of $5,500,001<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $3,000,346; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.000% - 4.625%, maturity dates ranging from <br> 10/28/25 - 05/15/35, and an aggregate market value of <br> $3,060,000<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $15,341,283; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $15,646,287<br>| 15339497 | &nbsp;&nbsp;&nbsp; 15339497 |
| National Bank Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $3,000,357; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,345,282<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000000 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $4,000,476; <br> collateralized by various Common Stock with an aggregate <br> market value of $4,460,377<br>| 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $5,004,181; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $5,560,939<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $3,200,364; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 0.125% - 2.375%, maturity dates ranging from <br> 05/31/26 - 07/15/30, and an aggregate market value of <br> $3,264,001<br>| 3200000 | &nbsp;&nbsp;&nbsp; 3200000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.260%, due on <br> 10/01/25 with a maturity value of $3,000,355; <br> collateralized by various Common Stock with an aggregate <br> market value of $3,337,326<br>| 3000000 | &nbsp;&nbsp;&nbsp; $3000000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $6,000,698; <br> collateralized by various Common Stock with an aggregate <br> market value of $6,600,777<br>| 6000000 | &nbsp;&nbsp;&nbsp; 6000000 |
|  |  | &nbsp;&nbsp;&nbsp; 69739497 |
| **Time Deposits—2.1%** | **Time Deposits—2.1%** | **Time Deposits—2.1%** |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| First Abu Dhabi Bank USA NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Svenska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000000 |
|  |  | &nbsp;&nbsp;&nbsp; 28000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $129,731,083) <br>|  | &nbsp;&nbsp;&nbsp; 129734395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—122.9% <br>(Cost $1,618,804,816) <br>|  | &nbsp;&nbsp;&nbsp; 1601871367 |
| Other assets and liabilities (net)—(22.9)%  |  | &nbsp;&nbsp;&nbsp; (298054629)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $1303816738 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

(b) Interest only security.

(c) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date. 

(d) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $141,354,677 and the collateral received consisted of cash in the amount of $129,728,093 and non-cash collateral with a value of $16,136,631. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. 

**BHFTI-334**

------

**Brighthouse Funds Trust I**

**TCW Core Fixed Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | government securities that are held in safe-keeping by the lending agent, or a third-party <br> custodian, and cannot be sold or repledged by the Portfolio.<br>|
| (e) | The rate shown represents current yield to maturity. |
| (f) | The rate shown represents the annualized seven-day yield as of September 30, 2025. |
| (g) | Represents investment of cash collateral received from securities on loan as of September 30,  |

---

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(144A) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025, the market value of 144A securities
 was $227,404,604, which is 17.4% of net assets.

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 44 | USD | 5130125 | &nbsp;&nbsp;&nbsp; $117219 |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 1262 | USD | 262998829 | &nbsp;&nbsp;&nbsp; 159621 |
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 201 | USD | 21948258 | &nbsp;&nbsp;&nbsp; 6001 |
| U.S. Treasury Ultra Long Bond Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; 195 | USD | 23412188 | &nbsp;&nbsp;&nbsp; 649707 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| U.S. Treasury Note Ultra 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (37)<br>| USD | (4257891)<br>| &nbsp;&nbsp;&nbsp; (48804)<br>|
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;&nbsp; $883744 |

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $458344174 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $458344174 |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 380741994 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 380741994 |
| Total Corporate Bonds & Notes\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 225530467 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 225530467 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 124446070 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 124446070 |
| Total Asset-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 112916945 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 112916945 |
| Total Municipals\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12049998 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12049998 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 876749 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 876749 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 82728663 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 82728663 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 74501912 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 74501912 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp; 82728663 | &nbsp;&nbsp;&nbsp; 74501912 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 157230575 |
| Securities Lending Reinvestments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment Funds | &nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13003774 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13003774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2991124 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2991124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69739497 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69739497 |
| &nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28000000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 28000000 |
| Total Securities Lending Reinvestments | &nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp; 113734395 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 129734395 |
| Total Investments | &nbsp;&nbsp;&nbsp; $98728663 | &nbsp;&nbsp;&nbsp; $1503142704 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1601871367 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(129728093)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(129728093)<br>|
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $932548 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $932548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (48804)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (48804)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $883744 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $883744 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-335**

------

**Brighthouse Funds Trust I**

**Victory Sycamore Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—96.6% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** |
| L3Harris Technologies, Inc.  | 40200 | &nbsp;&nbsp;&nbsp; $12277482 |
| StandardAero, Inc. (a) | 67500 | &nbsp;&nbsp;&nbsp; 1842075 |
| Textron, Inc.  | 103600 | &nbsp;&nbsp;&nbsp; 8753164 |
|  |  | &nbsp;&nbsp;&nbsp; 22872721 |
| **Automobile Components — 1.4%** | **Automobile Components — 1.4%** | **Automobile Components — 1.4%** |
| BorgWarner, Inc.  | 269500 | &nbsp;&nbsp;&nbsp; 11847220 |
| **Banks — 3.3%** | **Banks — 3.3%** | **Banks — 3.3%** |
| Huntington Bancshares, Inc. (b) | 830900 | &nbsp;&nbsp;&nbsp; 14349643 |
| Truist Financial Corp.  | 309300 | &nbsp;&nbsp;&nbsp; 14141196 |
|  |  | &nbsp;&nbsp;&nbsp; 28490839 |
| **Building Products — 1.5%** | **Building Products — 1.5%** | **Building Products — 1.5%** |
| Builders FirstSource, Inc. (a) (b) | 49900 | &nbsp;&nbsp;&nbsp; 6050375 |
| Carrier Global Corp.  | 114000 | &nbsp;&nbsp;&nbsp; 6805800 |
|  |  | &nbsp;&nbsp;&nbsp; 12856175 |
| **Capital Markets — 1.7%** | **Capital Markets — 1.7%** | **Capital Markets — 1.7%** |
| Raymond James Financial, Inc. (b) | 84100 | &nbsp;&nbsp;&nbsp; 14515660 |
| **Chemicals — 4.7%** | **Chemicals — 4.7%** | **Chemicals — 4.7%** |
| Axalta Coating Systems Ltd. (a) | 199500 | &nbsp;&nbsp;&nbsp; 5709690 |
| CF Industries Holdings, Inc.  | 154400 | &nbsp;&nbsp;&nbsp; 13849680 |
| RPM International, Inc.  | 110300 | &nbsp;&nbsp;&nbsp; 13002164 |
| Westlake Corp. (b) | 105000 | &nbsp;&nbsp;&nbsp; 8091300 |
|  |  | &nbsp;&nbsp;&nbsp; 40652834 |
| **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** |
| Republic Services, Inc.  | 40400 | &nbsp;&nbsp;&nbsp; 9270992 |
| **Consumer Staples Distribution & Retail — 5.7%** | **Consumer Staples Distribution & Retail — 5.7%** | **Consumer Staples Distribution & Retail — 5.7%** |
| Casey's General Stores, Inc. (b) | 25600 | &nbsp;&nbsp;&nbsp; 14472192 |
| Maplebear, Inc. (a) (b) | 114300 | &nbsp;&nbsp;&nbsp; 4201668 |
| Performance Food Group Co. (a) (b) | 168100 | &nbsp;&nbsp;&nbsp; 17489124 |
| U.S. Foods Holding Corp. (a) | 169000 | &nbsp;&nbsp;&nbsp; 12948780 |
|  |  | &nbsp;&nbsp;&nbsp; 49111764 |
| **Containers & Packaging — 4.5%** | **Containers & Packaging — 4.5%** | **Containers & Packaging — 4.5%** |
| AptarGroup, Inc.  | 81300 | &nbsp;&nbsp;&nbsp; 10866558 |
| Crown Holdings, Inc. (b) | 133400 | &nbsp;&nbsp;&nbsp; 12885106 |
| Graphic Packaging Holding Co. (b) | 102700 | &nbsp;&nbsp;&nbsp; 2009839 |
| Packaging Corp. of America | 61300 | &nbsp;&nbsp;&nbsp; 13359109 |
|  |  | &nbsp;&nbsp;&nbsp; 39120612 |
| **Electric Utilities — 2.5%** | **Electric Utilities — 2.5%** | **Electric Utilities — 2.5%** |
| Alliant Energy Corp. (b) | 318500 | &nbsp;&nbsp;&nbsp; 21470085 |
| **Electrical Equipment — 2.3%** | **Electrical Equipment — 2.3%** | **Electrical Equipment — 2.3%** |
| Hubbell, Inc. (b) | 25800 | &nbsp;&nbsp;&nbsp; 11101998 |
| Regal Rexnord Corp. (b) | 61300 | &nbsp;&nbsp;&nbsp; 8792872 |
|  |  | &nbsp;&nbsp;&nbsp; 19894870 |
| **Electronic Equipment, Instruments & Components — 4.4%** | **Electronic Equipment, Instruments & Components — 4.4%** | **Electronic Equipment, Instruments & Components — 4.4%** |
| Keysight Technologies, Inc. (a) | 89000 | &nbsp;&nbsp;&nbsp; 15567880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Electronic Equipment, Instruments & Components—(Continued)** | **Electronic Equipment, Instruments & Components—(Continued)** | **Electronic Equipment, Instruments & Components—(Continued)** |
| Trimble, Inc. (a) | 180700 | &nbsp;&nbsp;&nbsp; $14754155 |
| Zebra Technologies Corp. - Class A (a) | 27300 | &nbsp;&nbsp;&nbsp; 8112468 |
|  |  | &nbsp;&nbsp;&nbsp; 38434503 |
| **Energy Equipment & Services — 1.5%** | **Energy Equipment & Services — 1.5%** | **Energy Equipment & Services — 1.5%** |
| Baker Hughes Co.  | 264100 | &nbsp;&nbsp;&nbsp; 12866952 |
| **Ground Transportation — 3.8%** | **Ground Transportation — 3.8%** | **Ground Transportation — 3.8%** |
| CSX Corp.  | 399000 | &nbsp;&nbsp;&nbsp; 14168490 |
| Knight-Swift Transportation Holdings, Inc.  | 289900 | &nbsp;&nbsp;&nbsp; 11453949 |
| Landstar System, Inc.  | 58100 | &nbsp;&nbsp;&nbsp; 7120736 |
|  |  | &nbsp;&nbsp;&nbsp; 32743175 |
| **Health Care Equipment & Supplies — 1.6%** | **Health Care Equipment & Supplies — 1.6%** | **Health Care Equipment & Supplies — 1.6%** |
| Hologic, Inc. (a) | 200600 | &nbsp;&nbsp;&nbsp; 13538494 |
| **Health Care Providers & Services — 4.5%** | **Health Care Providers & Services — 4.5%** | **Health Care Providers & Services — 4.5%** |
| Labcorp Holdings, Inc.  | 58500 | &nbsp;&nbsp;&nbsp; 16793010 |
| Molina Healthcare, Inc. (a) (b) | 35800 | &nbsp;&nbsp;&nbsp; 6850688 |
| Quest Diagnostics, Inc. (b) | 80800 | &nbsp;&nbsp;&nbsp; 15398864 |
|  |  | &nbsp;&nbsp;&nbsp; 39042562 |
| **Hotels, Restaurants & Leisure — 3.1%** | **Hotels, Restaurants & Leisure — 3.1%** | **Hotels, Restaurants & Leisure — 3.1%** |
| Expedia Group, Inc.  | 73000 | &nbsp;&nbsp;&nbsp; 15603750 |
| Hilton Worldwide Holdings, Inc.  | 22600 | &nbsp;&nbsp;&nbsp; 5863344 |
| Texas Roadhouse, Inc.  | 35000 | &nbsp;&nbsp;&nbsp; 5815250 |
|  |  | &nbsp;&nbsp;&nbsp; 27282344 |
| **Insurance — 9.9%** | **Insurance — 9.9%** | **Insurance — 9.9%** |
| American Financial Group, Inc.  | 106100 | &nbsp;&nbsp;&nbsp; 15460892 |
| Fidelity National Financial, Inc.  | 253600 | &nbsp;&nbsp;&nbsp; 15340264 |
| Hartford Insurance Group, Inc.  | 109600 | &nbsp;&nbsp;&nbsp; 14619544 |
| Old Republic International Corp. (b) | 294600 | &nbsp;&nbsp;&nbsp; 12511662 |
| Principal Financial Group, Inc.  | 135900 | &nbsp;&nbsp;&nbsp; 11267469 |
| Willis Towers Watson PLC (b) | 48500 | &nbsp;&nbsp;&nbsp; 16754325 |
|  |  | &nbsp;&nbsp;&nbsp; 85954156 |
| **IT Services — 0.7%** | **IT Services — 0.7%** | **IT Services — 0.7%** |
| Akamai Technologies, Inc. (a) (b) | 85400 | &nbsp;&nbsp;&nbsp; 6469904 |
| **Machinery — 5.3%** | **Machinery — 5.3%** | **Machinery — 5.3%** |
| AGCO Corp. (b) | 81000 | &nbsp;&nbsp;&nbsp; 8672670 |
| Lincoln Electric Holdings, Inc.  | 66000 | &nbsp;&nbsp;&nbsp; 15564780 |
| Middleby Corp. (a) | 49400 | &nbsp;&nbsp;&nbsp; 6566742 |
| Xylem, Inc.  | 102000 | &nbsp;&nbsp;&nbsp; 15045000 |
|  |  | &nbsp;&nbsp;&nbsp; 45849192 |
| **Metals & Mining — 2.6%** | **Metals & Mining — 2.6%** | **Metals & Mining — 2.6%** |
| Franco-Nevada Corp. (b) | 59800 | &nbsp;&nbsp;&nbsp; 13330018 |
| Steel Dynamics, Inc.  | 68600 | &nbsp;&nbsp;&nbsp; 9564898 |
|  |  | &nbsp;&nbsp;&nbsp; 22894916 |
| **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** |
| CMS Energy Corp.  | 216300 | &nbsp;&nbsp;&nbsp; 15846138 |

---

**BHFTI-336**

------

**Brighthouse Funds Trust I**

**Victory Sycamore Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Common Stocks—(Continued)**

**Short-Term Investments—3.0%**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | <br>**Value**<br>|
| **Oil, Gas & Consumable Fuels — 3.7%** | **Oil, Gas & Consumable Fuels — 3.7%** | **Oil, Gas & Consumable Fuels — 3.7%** |
| Chord Energy Corp.  | 111700 | &nbsp;&nbsp;&nbsp; $11099629 |
| Coterra Energy, Inc.  | 510600 | &nbsp;&nbsp;&nbsp; 12075690 |
| Devon Energy Corp.  | 260000 | &nbsp;&nbsp;&nbsp; 9115600 |
|  |  | &nbsp;&nbsp;&nbsp; 32290919 |
| **Personal Care Products — 0.8%** | **Personal Care Products — 0.8%** | **Personal Care Products — 0.8%** |
| Estee Lauder Cos., Inc. - Class A | 84300 | &nbsp;&nbsp;&nbsp; 7428516 |
| **Professional Services — 2.9%** | **Professional Services — 2.9%** | **Professional Services — 2.9%** |
| FTI Consulting, Inc. (a) (b) | 41400 | &nbsp;&nbsp;&nbsp; 6692310 |
| Genpact Ltd. (b) | 194700 | &nbsp;&nbsp;&nbsp; 8155983 |
| TransUnion (b) | 118800 | &nbsp;&nbsp;&nbsp; 9953064 |
|  |  | &nbsp;&nbsp;&nbsp; 24801357 |
| **Residential REITs — 2.9%** | **Residential REITs — 2.9%** | **Residential REITs — 2.9%** |
| Camden Property Trust | 103000 | &nbsp;&nbsp;&nbsp; 10998340 |
| Equity LifeStyle Properties, Inc. (b) | 236400 | &nbsp;&nbsp;&nbsp; 14349480 |
|  |  | &nbsp;&nbsp;&nbsp; 25347820 |
| **Retail REITs — 1.8%** | **Retail REITs — 1.8%** | **Retail REITs — 1.8%** |
| NNN REIT, Inc.  | 360000 | &nbsp;&nbsp;&nbsp; 15325200 |
| **Semiconductors & Semiconductor Equipment — 3.2%** | **Semiconductors & Semiconductor Equipment — 3.2%** | **Semiconductors & Semiconductor Equipment — 3.2%** |
| Microchip Technology, Inc.  | 202900 | &nbsp;&nbsp;&nbsp; 13030238 |
| MKS, Inc. (b) | 122500 | &nbsp;&nbsp;&nbsp; 15161825 |
|  |  | &nbsp;&nbsp;&nbsp; 28192063 |
| **Software — 1.2%** | **Software — 1.2%** | **Software — 1.2%** |
| Check Point Software Technologies Ltd. (a) | 50200 | &nbsp;&nbsp;&nbsp; 10386882 |
| **Specialized REITs — 2.4%** | **Specialized REITs — 2.4%** | **Specialized REITs — 2.4%** |
| Lamar Advertising Co. - Class A (b) | 117200 | &nbsp;&nbsp;&nbsp; 14347624 |
| SBA Communications Corp.  | 31800 | &nbsp;&nbsp;&nbsp; 6148530 |
|  |  | &nbsp;&nbsp;&nbsp; 20496154 |
| **Specialty Retail — 5.4%** | **Specialty Retail — 5.4%** | **Specialty Retail — 5.4%** |
| AutoZone, Inc. (a) | 1575 | &nbsp;&nbsp;&nbsp; 6757128 |
| Bath & Body Works, Inc. (b) | 263500 | &nbsp;&nbsp;&nbsp; 6787760 |
| Lowe's Cos., Inc.  | 51600 | &nbsp;&nbsp;&nbsp; 12967596 |
| Penske Automotive Group, Inc.  | 52100 | &nbsp;&nbsp;&nbsp; 9060711 |
| Tractor Supply Co. (b) | 149300 | &nbsp;&nbsp;&nbsp; 8490691 |
| Williams-Sonoma, Inc.  | 16400 | &nbsp;&nbsp;&nbsp; 3205380 |
|  |  | &nbsp;&nbsp;&nbsp; 47269266 |
| **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
| Ralph Lauren Corp.  | 6900 | &nbsp;&nbsp;&nbsp; 2163564 |
| **Water Utilities — 1.6%** | **Water Utilities — 1.6%** | **Water Utilities — 1.6%** |
| American Water Works Co., Inc. (b) | 97900 | &nbsp;&nbsp;&nbsp; 13626701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $742,518,433) <br>|  | &nbsp;&nbsp;&nbsp; 838354550 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Repurchase Agreement—3.0%** | **Repurchase Agreement—3.0%** | **Repurchase Agreement—3.0%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $26,157,082; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $26,678,039<br>| 26154903 | &nbsp;&nbsp;&nbsp; $26154903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $26,154,903) <br>|  | &nbsp;&nbsp;&nbsp; 26154903 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Securities Lending Reinvestments (c)—11.9%** | **Securities Lending Reinvestments (c)—11.9%** | **Securities Lending Reinvestments (c)—11.9%** |
| **Certificates of Deposit—1.6%** | **Certificates of Deposit—1.6%** | **Certificates of Deposit—1.6%** |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, SOFR + 0.370%, 08/07/26 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2000504 |
| Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, SOFR + 0.380%, 04/13/26 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1000967 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 11/13/25 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2000266 |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, SOFR + 0.220%, 12/15/25 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1000131 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/15/25 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2000110 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, SOFR + 0.230%, 01/30/26 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1000101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, SOFR + 0.350%, 10/14/25 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1000067 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/25 | 2000000 | &nbsp;&nbsp;&nbsp; 2000240 |
| Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, SOFR + 0.290%, 03/20/26 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1000277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.610%, SOFR + 0.450%, 04/23/26 (d) | 1000000 | &nbsp;&nbsp;&nbsp; 1001154 |
|  |  | &nbsp;&nbsp;&nbsp; 14003817 |
| **Commercial Paper—0.7%** | **Commercial Paper—0.7%** | **Commercial Paper—0.7%** |
| Chesham Finance Ltd./Chesham Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.090%, 10/03/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999306 |
| Ionic Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 10/02/25 | 2000000 | &nbsp;&nbsp;&nbsp; 1999518 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.530%, SOFR + 0.400%, 04/10/26 (d) | 2000000 | &nbsp;&nbsp;&nbsp; 2001684 |
|  |  | &nbsp;&nbsp;&nbsp; 6000508 |
| **Repurchase Agreements—8.7%** | **Repurchase Agreements—8.7%** | **Repurchase Agreements—8.7%** |
| Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.200%, due on <br> 10/01/25 with a maturity value of $1,000,117; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,112,336<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.270%, due on <br> 10/01/25 with a maturity value of $5,000,593; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,561,679<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Barclays Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.420%, due on <br> 01/02/26 with a maturity value of $1,011,541; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 07/15/26 - 10/15/28, <br> and various Common Stock with an aggregate market value of <br> $1,114,015<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |

---

**BHFTI-337**

------

**Brighthouse Funds Trust I**

**Victory Sycamore Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Securities Lending Reinvestments (c)—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** | **Repurchase Agreements—(Continued)** |
| Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.580%, due on <br> 04/06/26 with a maturity value of $4,095,671; collateralized <br> by various Common Stock with an aggregate market value of <br> $4,400,001<br>| 4000000 | &nbsp;&nbsp;&nbsp; $4000000 |
| Citigroup Global Markets, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.150%, due on <br> 10/01/25 with a maturity value of $1,600,184; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.000% - <br> 4.625%, maturity dates ranging from 10/28/25 - 05/15/35, <br> and an aggregate market value of $1,632,000<br>| 1600000 | &nbsp;&nbsp;&nbsp; 1600000 |
| Deutsche Bank Securities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $14,030,074; <br> collateralized by U.S. Treasury Obligations with zero coupon, <br> maturity dates ranging from 11/15/35 - 08/15/55, and an <br> aggregate market value of $14,309,011<br>| 14028442 | &nbsp;&nbsp;&nbsp; 14028442 |
| National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.280%, due on <br> 10/01/25 with a maturity value of $1,000,119; collateralized <br> by various Common Stock with an aggregate market value of <br> $1,115,094<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.300%, due on <br> 10/07/25 with a maturity value of $18,015,050; <br> collateralized by U.S. Treasury Obligations with rates ranging <br> from 3.750% - 4.125%, maturity dates ranging from <br> 10/31/26 - 11/30/29, and various Common Stock with an <br> aggregate market value of $20,019,382<br>| 18000000 | &nbsp;&nbsp;&nbsp; 18000000 |
| NBC Global Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.330%, due on <br> 10/07/25 with a maturity value of $10,008,419; <br> collateralized by various Common Stock with an aggregate <br> market value of $11,151,392<br>| 10000000 | &nbsp;&nbsp;&nbsp; 10000000 |
| Royal Bank of Canada Toronto |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.360%, due on <br> 11/04/25 with a maturity value of $5,021,195; collateralized <br> by various Common Stock with an aggregate market value of <br> $5,556,228<br>| 5000000 | &nbsp;&nbsp;&nbsp; 5000000 |
| Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.090%, due on <br> 10/01/25 with a maturity value of $1,700,193; collateralized <br> by U.S. Treasury Obligations with rates ranging from 0.125% - <br> 2.375%, maturity dates ranging from 05/31/26 - 07/15/30, <br> and an aggregate market value of $1,734,000<br>| 1700000 | &nbsp;&nbsp;&nbsp; 1700000 |
| TD Prime Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 4.190%, due on <br> 10/01/25 with a maturity value of $13,001,513; <br> collateralized by various Common Stock with an aggregate <br> market value of $14,301,665<br>| 13000000 | &nbsp;&nbsp;&nbsp; 13000000 |
|  |  | &nbsp;&nbsp;&nbsp; 75328442 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Time Deposits—0.9%** | **Time Deposits—0.9%** | **Time Deposits—0.9%** |
| Canadian Imperial Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; $1000000 |
| DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| DZ Bank AG (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| First Abu Dhabi Bank USA NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 10/01/25 | 4000000 | &nbsp;&nbsp;&nbsp; 4000000 |
| Skandinaviska (NY) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.060%, 10/01/25 | 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp; 8000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Securities Lending Reinvestments <br>(Cost $103,327,781) <br>|  | &nbsp;&nbsp;&nbsp; 103332767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—111.5% <br>(Cost $872,001,117) <br>|  | &nbsp;&nbsp;&nbsp; 967842220 |
| Other assets and liabilities (net)—(11.5)%  |  | &nbsp;&nbsp;&nbsp; (100094365)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $867747855 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Non-income producing security.

(b) All or a portion of the security was held on loan. As of September 30, 2025, the market value of securities loaned was $124,361,570 and the collateral received consisted of cash in the amount of $103,325,957 and non-cash collateral with a value of $25,529,730. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. 

(c) Represents investment of cash collateral received from securities on loan as of September 30, 2025. 

(d) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. 

**BHFTI-338**

------

**Brighthouse Funds Trust I**

**Victory Sycamore Mid Cap Value Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total Common Stocks\* | &nbsp;&nbsp;&nbsp; $838354550 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $838354550 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26154903 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26154903 |
| Total Securities Lending Reinvestments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 103332767 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 103332767 |
| Total Investments | &nbsp;&nbsp;&nbsp; $838354550 | &nbsp;&nbsp;&nbsp; $129487670 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $967842220 |
| Collateral for Securities Loaned (Liability) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(103325957)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(103325957)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-339**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**U.S. Treasury & Government Agencies—51.6% of Net Assets**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br>|
| **Federal Agencies — 34.3%** | **Federal Agencies — 34.3%** | **Federal Agencies — 34.3%** |
| Federal Farm Credit Banks Funding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 07/15/30 | 5000000 | &nbsp;&nbsp;&nbsp; $4495895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.980%, 07/13/38 | 19515000 | &nbsp;&nbsp;&nbsp; 14362702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 03/24/42 | 10000000 | &nbsp;&nbsp;&nbsp; 8366362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/03/33 | 8400000 | &nbsp;&nbsp;&nbsp; 8552086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.480%, 06/27/42 | 2000000 | &nbsp;&nbsp;&nbsp; 1996053 |
| Federal Home Loan Banks |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 03/04/36 | 5000000 | &nbsp;&nbsp;&nbsp; 4024588 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 09/15/36 | 10000000 | &nbsp;&nbsp;&nbsp; 5992665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/15/36 | 45000000 | &nbsp;&nbsp;&nbsp; 26674485 |
| Federal Home Loan Mortgage Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/15/32 | 17100000 | &nbsp;&nbsp;&nbsp; 12935179 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/15/30 | 5000000 | &nbsp;&nbsp;&nbsp; 4089076 |
| Federal National Mortgage Association Principal STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/15/30 | 3000000 | &nbsp;&nbsp;&nbsp; 2510964 |
| Resolution Funding Corp. Interest STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/15/29 | 7500000 | &nbsp;&nbsp;&nbsp; 6478029 |
| Resolution Funding Corp. Principal STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 01/15/30 | 35623000 | &nbsp;&nbsp;&nbsp; 30127649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 04/15/30 | 35000000 | &nbsp;&nbsp;&nbsp; 29285333 |
| Tennessee Valley Authority Generic STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 01/15/34 | 12669000 | &nbsp;&nbsp;&nbsp; 8865614 |
| U.S. International Development Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.110%, 05/15/29 | 3214286 | &nbsp;&nbsp;&nbsp; 3030115 |
|  |  | &nbsp;&nbsp;&nbsp; 171786795 |
| **U.S. Treasury — 17.3%** | **U.S. Treasury — 17.3%** | **U.S. Treasury — 17.3%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/48 | 63000000 | &nbsp;&nbsp;&nbsp; 50609180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/39 | 19000000 | &nbsp;&nbsp;&nbsp; 19141016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/15/54 | 6400000 | &nbsp;&nbsp;&nbsp; 6288000 |
| U.S. Treasury Inflation-Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 02/15/50 (a) | 6282350 | &nbsp;&nbsp;&nbsp; 3712382 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/31/26 | 6770000 | &nbsp;&nbsp;&nbsp; 6774760 |
|  |  | &nbsp;&nbsp;&nbsp; 86525338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury & Government Agencies <br>(Cost $285,403,000) <br>|  | &nbsp;&nbsp;&nbsp; 258312133 |
| **Agency Sponsored Mortgage-Backed Securities—41.5%** | **Agency Sponsored Mortgage-Backed Securities—41.5%** | **Agency Sponsored Mortgage-Backed Securities—41.5%** |
| **Agency Collateralized Mortgage Obligations — 8.4%** | **Agency Collateralized Mortgage Obligations — 8.4%** | **Agency Collateralized Mortgage Obligations — 8.4%** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 06/15/42 | 51296 | &nbsp;&nbsp;&nbsp; 48067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/25/51 (b) | 3770270 | &nbsp;&nbsp;&nbsp; 496110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/25/51 (b) | 2978116 | &nbsp;&nbsp;&nbsp; 396964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/25/51 (b) | 1428331 | &nbsp;&nbsp;&nbsp; 218360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/51 (b) | 1328466 | &nbsp;&nbsp;&nbsp; 201513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/25/51 (b) | 2469459 | &nbsp;&nbsp;&nbsp; 318586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/25/50 (b) | 520136 | &nbsp;&nbsp;&nbsp; 85879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/25/51 (b) | 1211250 | &nbsp;&nbsp;&nbsp; 237742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/25/51 (b) | 628035 | &nbsp;&nbsp;&nbsp; 89335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/15/31 | 356035 | &nbsp;&nbsp;&nbsp; 349655 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/25/52 (b) | 1270038 | &nbsp;&nbsp;&nbsp; $220107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/41 | 3536112 | &nbsp;&nbsp;&nbsp; 3459413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/25/50 (b) | 454716 | &nbsp;&nbsp;&nbsp; 96639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/51 (b) | 505961 | &nbsp;&nbsp;&nbsp; 100243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/41 | 7121 | &nbsp;&nbsp;&nbsp; 7097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/49 (b) | 418750 | &nbsp;&nbsp;&nbsp; 92037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/25/50 (b) | 1495316 | &nbsp;&nbsp;&nbsp; 336821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/25/50 (b) | 1226822 | &nbsp;&nbsp;&nbsp; 268940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/25/51 (b) | 423590 | &nbsp;&nbsp;&nbsp; 92381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.887%, SOFR30A + 0.514%, 03/15/34 (c) | 81706 | &nbsp;&nbsp;&nbsp; 81276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/34 | 83654 | &nbsp;&nbsp;&nbsp; 85419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/37 | 36190 | &nbsp;&nbsp;&nbsp; 36830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/41 | 181802 | &nbsp;&nbsp;&nbsp; 186969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/41 | 604130 | &nbsp;&nbsp;&nbsp; 616894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/41 | 955261 | &nbsp;&nbsp;&nbsp; 973152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.387%, SOFR30A + 1.014%, 02/15/33 (c) | 46492 | &nbsp;&nbsp;&nbsp; 46936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/15/34 | 472712 | &nbsp;&nbsp;&nbsp; 487265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/15/36 | 189800 | &nbsp;&nbsp;&nbsp; 195169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/41 | 1266311 | &nbsp;&nbsp;&nbsp; 1318918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, SOFR30A + 1.300%, 12/25/54 (c) | 571893 | &nbsp;&nbsp;&nbsp; 573980 |
| Federal Home Loan Mortgage Corp. STACR REMICS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, SOFR30A + 1.350%, 01/25/45 (144A) (c) | 500000 | &nbsp;&nbsp;&nbsp; 497815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.706%, SOFR30A + 3.350%, 05/25/42 (144A) (c) | 1050000 | &nbsp;&nbsp;&nbsp; 1089700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association Connecticut Avenue <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.956%, SOFR30A + 1.600%, 09/25/44 (144A) (c) | 260000 | &nbsp;&nbsp;&nbsp; 260243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.156%, SOFR30A + 1.800%, 01/25/44 (144A) (c) | 510000 | &nbsp;&nbsp;&nbsp; 514162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.056%, SOFR30A + 2.700%, 07/25/43 (144A) (c) | 780000 | &nbsp;&nbsp;&nbsp; 805940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.956%, SOFR30A + 3.600%, 07/25/42 (144A) (c) | 930000 | &nbsp;&nbsp;&nbsp; 967200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.106%, SOFR30A + 3.750%, 12/25/42 (144A) (c) | 1030000 | &nbsp;&nbsp;&nbsp; 1081500 |
| Federal National Mortgage Association Grantor Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.898%, 06/25/27 | 6053196 | &nbsp;&nbsp;&nbsp; 5929495 |
| Federal National Mortgage Association Interest STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/25/50 (b) | 729270 | &nbsp;&nbsp;&nbsp; 93446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/52 (b) | 3197171 | &nbsp;&nbsp;&nbsp; 413564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/53 (b) | 1312383 | &nbsp;&nbsp;&nbsp; 293752 |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 06/25/42 | 65616 | &nbsp;&nbsp;&nbsp; 61730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 01/25/43 | 49529 | &nbsp;&nbsp;&nbsp; 46280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/50 (b) | 1672764 | &nbsp;&nbsp;&nbsp; 215826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/25/50 (b) | 678761 | &nbsp;&nbsp;&nbsp; 95159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/25/50 (b) | 692176 | &nbsp;&nbsp;&nbsp; 96446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/25/51 (b) | 633071 | &nbsp;&nbsp;&nbsp; 95981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/51 (b) | 4167073 | &nbsp;&nbsp;&nbsp; 611090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/25/46 | 1119144 | &nbsp;&nbsp;&nbsp; 1076293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/25/50 (b) | 590777 | &nbsp;&nbsp;&nbsp; 95891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/51 (b) | 962553 | &nbsp;&nbsp;&nbsp; 171277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/25/50 (b) | 539063 | &nbsp;&nbsp;&nbsp; 85975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/25/51 (b) | 479594 | &nbsp;&nbsp;&nbsp; 105445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/49 (b) | 1279509 | &nbsp;&nbsp;&nbsp; 218032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/25/50 (b) | 437850 | &nbsp;&nbsp;&nbsp; 87323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/25/42 | 791934 | &nbsp;&nbsp;&nbsp; 768790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/25/40 | 58013 | &nbsp;&nbsp;&nbsp; 56990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/25/41 | 176533 | &nbsp;&nbsp;&nbsp; 177678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/25/34 | 71213 | &nbsp;&nbsp;&nbsp; 72409 |

---

**BHFTI-340**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** |
| Federal National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/25/35 | 57472 | &nbsp;&nbsp;&nbsp; $58442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/25/39 | 99767 | &nbsp;&nbsp;&nbsp; 101312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/25/41 | 91969 | &nbsp;&nbsp;&nbsp; 93918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.391%, SOFR30A + 1.034%, 03/25/36 (c) | 109296 | &nbsp;&nbsp;&nbsp; 110346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.401%, SOFR30A + 1.044%, 06/25/36 (c) | 144802 | &nbsp;&nbsp;&nbsp; 146130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/25/35 | 295132 | &nbsp;&nbsp;&nbsp; 303389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/25/45 (b) | 147852 | &nbsp;&nbsp;&nbsp; 20740 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.761%, -1x SOFR30A + 5.150%, 07/20/55 (b) (c) | 1993217 | &nbsp;&nbsp;&nbsp; 91778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.411%, -1x SOFR30A + 5.800%, 05/20/55 (b) (c) | 5470190 | &nbsp;&nbsp;&nbsp; 498595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.461%, -1x SOFR30A + 5.850%, 08/20/55 (b) (c) | 3296694 | &nbsp;&nbsp;&nbsp; 306849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.491%, -1x SOFR30A + 5.880%, 06/20/55 (b) (c) | 3881600 | &nbsp;&nbsp;&nbsp; 368820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.561%, -1x SOFR30A + 5.950%, 03/20/55 (b) (c) | 4938122 | &nbsp;&nbsp;&nbsp; 478107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.661%, -1x SOFR30A + 6.050%, 09/20/54 (b) (c) | 929049 | &nbsp;&nbsp;&nbsp; 93350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, -1x 1M TSFR + 5.986%, 07/20/41 (b) (c) | 50547 | &nbsp;&nbsp;&nbsp; 5122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.230%, -1x SOFR30A + 6.570%, 09/20/55 (b) (c) | 3500000 | &nbsp;&nbsp;&nbsp; 360351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/20/46 | 74102 | &nbsp;&nbsp;&nbsp; 68216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/20/50 (b) | 676665 | &nbsp;&nbsp;&nbsp; 97655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/20/51 (b) | 713503 | &nbsp;&nbsp;&nbsp; 96389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 08/20/68 | 1297170 | &nbsp;&nbsp;&nbsp; 1266280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/49 (b) | 537378 | &nbsp;&nbsp;&nbsp; 103371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/20/40 | 983805 | &nbsp;&nbsp;&nbsp; 961293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/20/47 (b) | 1363441 | &nbsp;&nbsp;&nbsp; 237572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 1Y H15 + 0.350%, 08/20/66 (c) | 170125 | &nbsp;&nbsp;&nbsp; 169362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/16/40 | 3749 | &nbsp;&nbsp;&nbsp; 3736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/20/40 (b) | 881 | &nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/20/40 | 1215563 | &nbsp;&nbsp;&nbsp; 1210376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/20/47 (b) | 968129 | &nbsp;&nbsp;&nbsp; 175139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1M TSFR + 0.364%, 10/20/47 (c) | 400622 | &nbsp;&nbsp;&nbsp; 389472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/20/47 (b) | 1161065 | &nbsp;&nbsp;&nbsp; 216508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1M TSFR + 0.414%, 05/20/48 (c) | 354895 | &nbsp;&nbsp;&nbsp; 343722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1M TSFR + 0.414%, 06/20/48 (c) | 468595 | &nbsp;&nbsp;&nbsp; 458991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1Y H15 + 0.500%, 05/20/66 (c) | 159867 | &nbsp;&nbsp;&nbsp; 159483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.730%, 1M TSFR + 0.594%, 01/20/38 (c) | 12341 | &nbsp;&nbsp;&nbsp; 12326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1M TSFR + 0.614%, 07/20/37 (c) | 47077 | &nbsp;&nbsp;&nbsp; 47074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.760%, 1M TSFR + 0.444%, 07/20/60 (c) | 30890 | &nbsp;&nbsp;&nbsp; 30831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.766%, 1M TSFR + 0.414%, 08/20/60 (c) | 14494 | &nbsp;&nbsp;&nbsp; 14448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.766%, 1M TSFR + 0.414%, 09/20/60 (c) | 28906 | &nbsp;&nbsp;&nbsp; 28812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.791%, 1M TSFR + 0.644%, 12/16/39 (c) | 44550 | &nbsp;&nbsp;&nbsp; 44493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.861%, 1M TSFR + 0.714%, 11/16/39 (c) | 80235 | &nbsp;&nbsp;&nbsp; 80247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.956%, 1M TSFR + 0.604%, 02/20/61 (c) | 9043 | &nbsp;&nbsp;&nbsp; 9042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 12/20/60 (c) | 35456 | &nbsp;&nbsp;&nbsp; 35462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 02/20/61 (c) | 3231 | &nbsp;&nbsp;&nbsp; 3232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 04/20/61 (c) | 14909 | &nbsp;&nbsp;&nbsp; 14912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.966%, 1M TSFR + 0.614%, 05/20/61 (c) | 26298 | &nbsp;&nbsp;&nbsp; 26301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.996%, 1M TSFR + 0.644%, 06/20/61 (c) | 13748 | &nbsp;&nbsp;&nbsp; 13756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/20/39 | 2155027 | &nbsp;&nbsp;&nbsp; 2211614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/20/40 | 1012562 | &nbsp;&nbsp;&nbsp; 1028209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/20/45 (b) | 999526 | &nbsp;&nbsp;&nbsp; 205300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 1M TSFR + 0.714%, 10/20/61 (c) | 74768 | &nbsp;&nbsp;&nbsp; 74886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.096%, 1M TSFR + 0.744%, 01/20/62 (c) | 72376 | &nbsp;&nbsp;&nbsp; 72527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.096%, 1M TSFR + 0.744%, 03/20/62 (c) | 83483 | &nbsp;&nbsp;&nbsp; 83591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 1M TSFR + 0.764%, 05/20/61 (c) | 389 | &nbsp;&nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.166%, 1M TSFR + 0.814%, 11/20/61 (c) | 57101 | &nbsp;&nbsp;&nbsp; 57246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.166%, 1M TSFR + 0.814%, 01/20/62 (c) | 73052 | &nbsp;&nbsp;&nbsp; 73248 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** | **Agency Collateralized Mortgage Obligations—(Continued)** |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/34 | 242916 | &nbsp;&nbsp;&nbsp; $244882 |
| Seasoned Loans Structured Transaction |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/25/28 | 987562 | &nbsp;&nbsp;&nbsp; 966076 |
|  |  | &nbsp;&nbsp;&nbsp; 42177853 |
| **Agency Mortgage-Backed Securities — 33.1%** | **Agency Mortgage-Backed Securities — 33.1%** | **Agency Mortgage-Backed Securities — 33.1%** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 05/01/41 | 1474494 | &nbsp;&nbsp;&nbsp; 1246220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 07/01/41 | 1075011 | &nbsp;&nbsp;&nbsp; 907904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/01/40 | 931036 | &nbsp;&nbsp;&nbsp; 808267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/41 | 1743148 | &nbsp;&nbsp;&nbsp; 1506816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 06/01/41 | 68111 | &nbsp;&nbsp;&nbsp; 59248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/41 | 561337 | &nbsp;&nbsp;&nbsp; 487359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/01/41 | 246466 | &nbsp;&nbsp;&nbsp; 213627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 01/01/42 | 1811837 | &nbsp;&nbsp;&nbsp; 1567038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/01/42 | 176578 | &nbsp;&nbsp;&nbsp; 152720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 06/01/50 | 3163019 | &nbsp;&nbsp;&nbsp; 2577940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 07/01/50 | 464327 | &nbsp;&nbsp;&nbsp; 378341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/01/50 | 125392 | &nbsp;&nbsp;&nbsp; 102578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/51 | 69954 | &nbsp;&nbsp;&nbsp; 57327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/01/51 | 150950 | &nbsp;&nbsp;&nbsp; 123637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/01/51 | 218852 | &nbsp;&nbsp;&nbsp; 179446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/52 | 96026 | &nbsp;&nbsp;&nbsp; 78434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/01/50 | 152065 | &nbsp;&nbsp;&nbsp; 130140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/01/50 | 494234 | &nbsp;&nbsp;&nbsp; 424925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/01/50 | 1680165 | &nbsp;&nbsp;&nbsp; 1446536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/01/50 | 241938 | &nbsp;&nbsp;&nbsp; 208295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/01/51 | 259038 | &nbsp;&nbsp;&nbsp; 211601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/51 | 609190 | &nbsp;&nbsp;&nbsp; 522293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/01/51 | 507365 | &nbsp;&nbsp;&nbsp; 436705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/52 | 2019441 | &nbsp;&nbsp;&nbsp; 1732311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/52 | 460942 | &nbsp;&nbsp;&nbsp; 395202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/52 | 2572006 | &nbsp;&nbsp;&nbsp; 2209292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.793%, 1Y RFUCCT + 1.635%, 12/01/50 (c) | 570488 | &nbsp;&nbsp;&nbsp; 541860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/31 | 138494 | &nbsp;&nbsp;&nbsp; 135061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/32 | 3530 | &nbsp;&nbsp;&nbsp; 3445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/33 | 500821 | &nbsp;&nbsp;&nbsp; 488260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/33 | 42010 | &nbsp;&nbsp;&nbsp; 40923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/33 | 533592 | &nbsp;&nbsp;&nbsp; 518475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/34 | 38995 | &nbsp;&nbsp;&nbsp; 37912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/42 | 62569 | &nbsp;&nbsp;&nbsp; 58155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/43 | 78707 | &nbsp;&nbsp;&nbsp; 72470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/43 | 358550 | &nbsp;&nbsp;&nbsp; 330340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/43 | 3974591 | &nbsp;&nbsp;&nbsp; 3661307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/43 | 933295 | &nbsp;&nbsp;&nbsp; 858751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/48 | 306891 | &nbsp;&nbsp;&nbsp; 277934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/49 | 1283181 | &nbsp;&nbsp;&nbsp; 1151064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/49 | 383044 | &nbsp;&nbsp;&nbsp; 343589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/50 | 175588 | &nbsp;&nbsp;&nbsp; 157702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/50 | 98199 | &nbsp;&nbsp;&nbsp; 88407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/52 | 627346 | &nbsp;&nbsp;&nbsp; 556406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/52 | 2041803 | &nbsp;&nbsp;&nbsp; 1825160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/32 | 225695 | &nbsp;&nbsp;&nbsp; 221948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/32 | 631134 | &nbsp;&nbsp;&nbsp; 619612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/32 | 218083 | &nbsp;&nbsp;&nbsp; 214332 |

---

**BHFTI-341**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/33 | 86696 | &nbsp;&nbsp;&nbsp; $85614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/34 | 1032404 | &nbsp;&nbsp;&nbsp; 1009111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/40 | 53266 | &nbsp;&nbsp;&nbsp; 50843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/40 | 104395 | &nbsp;&nbsp;&nbsp; 99690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/40 | 90337 | &nbsp;&nbsp;&nbsp; 86405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/40 | 8563 | &nbsp;&nbsp;&nbsp; 8166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/40 | 58545 | &nbsp;&nbsp;&nbsp; 55881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/40 | 46788 | &nbsp;&nbsp;&nbsp; 44723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/40 | 21513 | &nbsp;&nbsp;&nbsp; 20477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/40 | 44939 | &nbsp;&nbsp;&nbsp; 42824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/40 | 43433 | &nbsp;&nbsp;&nbsp; 41381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/42 | 218216 | &nbsp;&nbsp;&nbsp; 207585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/42 | 34410 | &nbsp;&nbsp;&nbsp; 32710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/42 | 20333 | &nbsp;&nbsp;&nbsp; 19138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/42 | 97063 | &nbsp;&nbsp;&nbsp; 91545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/42 | 527206 | &nbsp;&nbsp;&nbsp; 498804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/43 | 172459 | &nbsp;&nbsp;&nbsp; 163320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/43 | 86574 | &nbsp;&nbsp;&nbsp; 82389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/43 | 278522 | &nbsp;&nbsp;&nbsp; 263180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/43 | 136424 | &nbsp;&nbsp;&nbsp; 128781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/44 | 163000 | &nbsp;&nbsp;&nbsp; 153424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/45 | 3173 | &nbsp;&nbsp;&nbsp; 2996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/45 | 6414 | &nbsp;&nbsp;&nbsp; 6041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/45 | 1348060 | &nbsp;&nbsp;&nbsp; 1268868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/46 | 121272 | &nbsp;&nbsp;&nbsp; 113774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/46 | 430469 | &nbsp;&nbsp;&nbsp; 403582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/01/46 | 422462 | &nbsp;&nbsp;&nbsp; 397472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/46 | 79078 | &nbsp;&nbsp;&nbsp; 73959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/46 | 634305 | &nbsp;&nbsp;&nbsp; 593193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/46 | 55853 | &nbsp;&nbsp;&nbsp; 52816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/46 | 283313 | &nbsp;&nbsp;&nbsp; 266672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/47 | 621901 | &nbsp;&nbsp;&nbsp; 584599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/47 | 949876 | &nbsp;&nbsp;&nbsp; 883895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/47 | 188059 | &nbsp;&nbsp;&nbsp; 175649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/47 | 11585 | &nbsp;&nbsp;&nbsp; 10905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/48 | 54043 | &nbsp;&nbsp;&nbsp; 50106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/48 | 189961 | &nbsp;&nbsp;&nbsp; 176259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/33 | 245890 | &nbsp;&nbsp;&nbsp; 244734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/41 | 2121 | &nbsp;&nbsp;&nbsp; 2068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/42 | 22900 | &nbsp;&nbsp;&nbsp; 22363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/42 | 12334 | &nbsp;&nbsp;&nbsp; 12071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/42 | 139366 | &nbsp;&nbsp;&nbsp; 135751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/42 | 42050 | &nbsp;&nbsp;&nbsp; 40963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/43 | 9602 | &nbsp;&nbsp;&nbsp; 9201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/43 | 79981 | &nbsp;&nbsp;&nbsp; 77827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/43 | 26503 | &nbsp;&nbsp;&nbsp; 25656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/43 | 9698 | &nbsp;&nbsp;&nbsp; 9567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/43 | 88204 | &nbsp;&nbsp;&nbsp; 84557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/43 | 17517 | &nbsp;&nbsp;&nbsp; 16826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/43 | 130856 | &nbsp;&nbsp;&nbsp; 127069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/43 | 79622 | &nbsp;&nbsp;&nbsp; 77205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/43 | 158241 | &nbsp;&nbsp;&nbsp; 153880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/43 | 158532 | &nbsp;&nbsp;&nbsp; 154060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/44 | 86630 | &nbsp;&nbsp;&nbsp; 83613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/44 | 15421 | &nbsp;&nbsp;&nbsp; 14878 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/44 | 11150 | &nbsp;&nbsp;&nbsp; $10759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/45 | 141419 | &nbsp;&nbsp;&nbsp; 136365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/45 | 150162 | &nbsp;&nbsp;&nbsp; 145105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/45 | 167328 | &nbsp;&nbsp;&nbsp; 161226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/47 | 344719 | &nbsp;&nbsp;&nbsp; 331644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/48 | 174990 | &nbsp;&nbsp;&nbsp; 168398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/50 | 2060061 | &nbsp;&nbsp;&nbsp; 1984624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/52 | 323046 | &nbsp;&nbsp;&nbsp; 308202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/39 | 31132 | &nbsp;&nbsp;&nbsp; 31417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/40 | 500421 | &nbsp;&nbsp;&nbsp; 501165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/40 | 236793 | &nbsp;&nbsp;&nbsp; 237430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/41 | 23963 | &nbsp;&nbsp;&nbsp; 24035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/41 | 210495 | &nbsp;&nbsp;&nbsp; 210596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/41 | 32148 | &nbsp;&nbsp;&nbsp; 32211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/41 | 68528 | &nbsp;&nbsp;&nbsp; 68592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/44 | 10464 | &nbsp;&nbsp;&nbsp; 10352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/52 | 1459211 | &nbsp;&nbsp;&nbsp; 1426837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/52 | 1017893 | &nbsp;&nbsp;&nbsp; 993654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/52 | 495926 | &nbsp;&nbsp;&nbsp; 484117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/41 | 558514 | &nbsp;&nbsp;&nbsp; 572662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/41 | 70804 | &nbsp;&nbsp;&nbsp; 71996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/44 | 838584 | &nbsp;&nbsp;&nbsp; 861530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/52 | 76020 | &nbsp;&nbsp;&nbsp; 75837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/52 | 672080 | &nbsp;&nbsp;&nbsp; 669744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/52 | 313532 | &nbsp;&nbsp;&nbsp; 314595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/53 | 254317 | &nbsp;&nbsp;&nbsp; 258183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/53 | 875734 | &nbsp;&nbsp;&nbsp; 886799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/01/54 | 88025 | &nbsp;&nbsp;&nbsp; 89878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/54 | 760030 | &nbsp;&nbsp;&nbsp; 781894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/54 | 363162 | &nbsp;&nbsp;&nbsp; 374152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/54 | 380998 | &nbsp;&nbsp;&nbsp; 390013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/54 | 266823 | &nbsp;&nbsp;&nbsp; 275731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/55 | 190435 | &nbsp;&nbsp;&nbsp; 195127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.535%, 1Y RFUCCT + 1.910%, 06/01/41 (c) | 3985 | &nbsp;&nbsp;&nbsp; 4113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.561%, 1Y RFUCCT + 1.750%, 09/01/41 (c) | 42863 | &nbsp;&nbsp;&nbsp; 44440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.608%, 1Y RFUCCT + 1.750%, 12/01/40 (c) | 189639 | &nbsp;&nbsp;&nbsp; 196713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.672%, 1Y RFUCCT + 1.910%, 06/01/41 (c) | 13592 | &nbsp;&nbsp;&nbsp; 14130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.716%, 1Y RFUCCT + 1.880%, 09/01/41 (c) | 7675 | &nbsp;&nbsp;&nbsp; 7958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.746%, 1Y RFUCCT + 1.933%, 10/01/42 (c) | 22933 | &nbsp;&nbsp;&nbsp; 23852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.777%, 1Y RFUCCT + 1.910%, 05/01/41 (c) | 9283 | &nbsp;&nbsp;&nbsp; 9672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.837%, 1Y RFUCCT + 1.910%, 05/01/41 (c) | 14164 | &nbsp;&nbsp;&nbsp; 14731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.880%, 1Y RFUCCT + 1.880%, 04/01/41 (c) | 962 | &nbsp;&nbsp;&nbsp; 989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.880%, 1Y RFUCCT + 1.880%, 10/01/41 (c) | 84013 | &nbsp;&nbsp;&nbsp; 86711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured Pass-<br> Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.357%, 10/25/33 (b) (c) | 15000000 | &nbsp;&nbsp;&nbsp; 243661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.446%, 09/25/32 (b) (c) | 8480054 | &nbsp;&nbsp;&nbsp; 180787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.475%, 03/25/34 (b) (c) | 8596745 | &nbsp;&nbsp;&nbsp; 206968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.626%, 10/25/31 (b) (c) | 6082897 | &nbsp;&nbsp;&nbsp; 159140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.948%, 10/25/35 (b) (c) | 291197 | &nbsp;&nbsp;&nbsp; 17719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.961%, 11/25/30 (b) (c) | 4893890 | &nbsp;&nbsp;&nbsp; 180047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.123%, 10/25/30 (b) (c) | 5376903 | &nbsp;&nbsp;&nbsp; 223553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/25/29 | 123470 | &nbsp;&nbsp;&nbsp; 122869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/25/32 | 1000000 | &nbsp;&nbsp;&nbsp; 986453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.990%, 05/25/33 (c) | 3650000 | &nbsp;&nbsp;&nbsp; 3623918 |

---

**BHFTI-342**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/01/41 | 1483349 | &nbsp;&nbsp;&nbsp; $1249994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 03/01/42 | 610991 | &nbsp;&nbsp;&nbsp; 512031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/40 | 2005528 | &nbsp;&nbsp;&nbsp; 1740311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 07/01/41 | 442258 | &nbsp;&nbsp;&nbsp; 384432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/01/41 | 1857112 | &nbsp;&nbsp;&nbsp; 1596140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/01/42 | 1033306 | &nbsp;&nbsp;&nbsp; 893052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/42 | 1048935 | &nbsp;&nbsp;&nbsp; 905906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 04/01/42 | 463830 | &nbsp;&nbsp;&nbsp; 400584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/01/42 | 757435 | &nbsp;&nbsp;&nbsp; 653292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/42 | 868696 | &nbsp;&nbsp;&nbsp; 754136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 06/01/50 | 531067 | &nbsp;&nbsp;&nbsp; 432832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/50 | 205860 | &nbsp;&nbsp;&nbsp; 166998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/50 | 194789 | &nbsp;&nbsp;&nbsp; 158718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 01/01/51 | 138690 | &nbsp;&nbsp;&nbsp; 113455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/01/51 | 409486 | &nbsp;&nbsp;&nbsp; 334981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/51 | 70878 | &nbsp;&nbsp;&nbsp; 58236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 04/01/51 | 2156856 | &nbsp;&nbsp;&nbsp; 1747642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/51 | 1361775 | &nbsp;&nbsp;&nbsp; 1108373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/51 | 82854 | &nbsp;&nbsp;&nbsp; 67898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 01/01/52 | 544099 | &nbsp;&nbsp;&nbsp; 443981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/01/52 | 625243 | &nbsp;&nbsp;&nbsp; 511366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 03/01/52 | 1431874 | &nbsp;&nbsp;&nbsp; 1179051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/01/52 | 95057 | &nbsp;&nbsp;&nbsp; 77897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/42 | 4229892 | &nbsp;&nbsp;&nbsp; 3726379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/01/50 | 505420 | &nbsp;&nbsp;&nbsp; 431947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/50 | 2205358 | &nbsp;&nbsp;&nbsp; 1879236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/01/50 | 427961 | &nbsp;&nbsp;&nbsp; 366980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/51 | 391043 | &nbsp;&nbsp;&nbsp; 335230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/51 | 51410 | &nbsp;&nbsp;&nbsp; 44116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/51 | 188787 | &nbsp;&nbsp;&nbsp; 162415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/51 | 413234 | &nbsp;&nbsp;&nbsp; 337122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/01/51 | 128122 | &nbsp;&nbsp;&nbsp; 110278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/01/51 | 69102 | &nbsp;&nbsp;&nbsp; 59552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/51 | 363480 | &nbsp;&nbsp;&nbsp; 312071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/01/51 | 215814 | &nbsp;&nbsp;&nbsp; 185082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/01/51 | 565235 | &nbsp;&nbsp;&nbsp; 486340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/01/51 | 4027222 | &nbsp;&nbsp;&nbsp; 3446659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/01/52 | 1676232 | &nbsp;&nbsp;&nbsp; 1418640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/52 | 747305 | &nbsp;&nbsp;&nbsp; 641916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/01/52 | 909816 | &nbsp;&nbsp;&nbsp; 779010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/52 | 309230 | &nbsp;&nbsp;&nbsp; 264484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/01/52 | 356078 | &nbsp;&nbsp;&nbsp; 302939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/61 | 445620 | &nbsp;&nbsp;&nbsp; 363404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/27 | 8491 | &nbsp;&nbsp;&nbsp; 8395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/27 | 14392 | &nbsp;&nbsp;&nbsp; 14239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/27 | 4272 | &nbsp;&nbsp;&nbsp; 4222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/01/27 | 8689 | &nbsp;&nbsp;&nbsp; 8594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/28 | 8145 | &nbsp;&nbsp;&nbsp; 8050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/28 | 7101 | &nbsp;&nbsp;&nbsp; 7015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/28 | 8119 | &nbsp;&nbsp;&nbsp; 8022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/28 | 7999 | &nbsp;&nbsp;&nbsp; 7889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/28 | 9851 | &nbsp;&nbsp;&nbsp; 9730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/28 | 9566 | &nbsp;&nbsp;&nbsp; 9442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/28 | 9215 | &nbsp;&nbsp;&nbsp; 9096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/28 | 11040 | &nbsp;&nbsp;&nbsp; 10898 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/28 | 12360 | &nbsp;&nbsp;&nbsp; $12194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/29 | 9043 | &nbsp;&nbsp;&nbsp; 8860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/29 | 15411 | &nbsp;&nbsp;&nbsp; 15147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/32 | 28554 | &nbsp;&nbsp;&nbsp; 27835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/32 | 3045 | &nbsp;&nbsp;&nbsp; 2964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/33 | 1139928 | &nbsp;&nbsp;&nbsp; 1110161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/33 | 148800 | &nbsp;&nbsp;&nbsp; 144917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/33 | 118118 | &nbsp;&nbsp;&nbsp; 115014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/33 | 59845 | &nbsp;&nbsp;&nbsp; 57868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/33 | 28112 | &nbsp;&nbsp;&nbsp; 27155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/33 | 117262 | &nbsp;&nbsp;&nbsp; 113486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/33 | 470653 | &nbsp;&nbsp;&nbsp; 457884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/33 | 129742 | &nbsp;&nbsp;&nbsp; 126018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/33 | 76271 | &nbsp;&nbsp;&nbsp; 74148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/01/33 | 39787 | &nbsp;&nbsp;&nbsp; 38670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/34 | 41471 | &nbsp;&nbsp;&nbsp; 40095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/34 | 61046 | &nbsp;&nbsp;&nbsp; 59343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/34 | 153354 | &nbsp;&nbsp;&nbsp; 148935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/34 | 77727 | &nbsp;&nbsp;&nbsp; 75450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/42 | 3206382 | &nbsp;&nbsp;&nbsp; 2966383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/42 | 729596 | &nbsp;&nbsp;&nbsp; 671964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/42 | 468942 | &nbsp;&nbsp;&nbsp; 431703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/42 | 1131813 | &nbsp;&nbsp;&nbsp; 1041220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/43 | 105613 | &nbsp;&nbsp;&nbsp; 96737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/43 | 229827 | &nbsp;&nbsp;&nbsp; 210535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/43 | 223950 | &nbsp;&nbsp;&nbsp; 205105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/45 | 206123 | &nbsp;&nbsp;&nbsp; 188943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/46 | 107764 | &nbsp;&nbsp;&nbsp; 97454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/46 | 318631 | &nbsp;&nbsp;&nbsp; 288090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/46 | 136200 | &nbsp;&nbsp;&nbsp; 123001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/48 | 553871 | &nbsp;&nbsp;&nbsp; 503579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 09/01/49 | 453774 | &nbsp;&nbsp;&nbsp; 406562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/49 | 102421 | &nbsp;&nbsp;&nbsp; 91056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/50 | 219488 | &nbsp;&nbsp;&nbsp; 198339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/50 | 675703 | &nbsp;&nbsp;&nbsp; 606020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/50 | 225510 | &nbsp;&nbsp;&nbsp; 201005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/50 | 317353 | &nbsp;&nbsp;&nbsp; 284126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/51 | 133429 | &nbsp;&nbsp;&nbsp; 119272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/51 | 302010 | &nbsp;&nbsp;&nbsp; 270901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/51 | 329779 | &nbsp;&nbsp;&nbsp; 296294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/01/51 | 1260508 | &nbsp;&nbsp;&nbsp; 1127017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/01/51 | 64011 | &nbsp;&nbsp;&nbsp; 56746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/52 | 490221 | &nbsp;&nbsp;&nbsp; 438477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/52 | 72377 | &nbsp;&nbsp;&nbsp; 64938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/52 | 387654 | &nbsp;&nbsp;&nbsp; 344092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/32 | 662899 | &nbsp;&nbsp;&nbsp; 650898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/32 | 561809 | &nbsp;&nbsp;&nbsp; 547358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/01/34 | 482317 | &nbsp;&nbsp;&nbsp; 470905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/42 | 1030088 | &nbsp;&nbsp;&nbsp; 974194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/46 | 159025 | &nbsp;&nbsp;&nbsp; 150051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/47 | 757161 | &nbsp;&nbsp;&nbsp; 709940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/47 | 1903665 | &nbsp;&nbsp;&nbsp; 1772734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/49 | 222383 | &nbsp;&nbsp;&nbsp; 207420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/01/56 | 981234 | &nbsp;&nbsp;&nbsp; 892021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/31 | 244726 | &nbsp;&nbsp;&nbsp; 243320 |

---

**BHFTI-343**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/32 | 215118 | &nbsp;&nbsp;&nbsp; $213312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/40 | 846861 | &nbsp;&nbsp;&nbsp; 826243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/42 | 101052 | &nbsp;&nbsp;&nbsp; 98303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/42 | 86966 | &nbsp;&nbsp;&nbsp; 84582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/42 | 103239 | &nbsp;&nbsp;&nbsp; 100333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/43 | 51090 | &nbsp;&nbsp;&nbsp; 49278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/43 | 32009 | &nbsp;&nbsp;&nbsp; 31052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/43 | 609408 | &nbsp;&nbsp;&nbsp; 591561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/43 | 94057 | &nbsp;&nbsp;&nbsp; 91479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/44 | 35453 | &nbsp;&nbsp;&nbsp; 34444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/44 | 51888 | &nbsp;&nbsp;&nbsp; 50411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/45 | 422302 | &nbsp;&nbsp;&nbsp; 406582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/46 | 29526 | &nbsp;&nbsp;&nbsp; 28427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/46 | 20215 | &nbsp;&nbsp;&nbsp; 19417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/47 | 7921 | &nbsp;&nbsp;&nbsp; 7665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/48 | 307954 | &nbsp;&nbsp;&nbsp; 295962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/52 | 80753 | &nbsp;&nbsp;&nbsp; 76899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/52 | 611326 | &nbsp;&nbsp;&nbsp; 582149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/40 | 588184 | &nbsp;&nbsp;&nbsp; 588515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/41 | 51190 | &nbsp;&nbsp;&nbsp; 51234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/01/41 | 325081 | &nbsp;&nbsp;&nbsp; 324662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/44 | 375420 | &nbsp;&nbsp;&nbsp; 373081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/45 | 160642 | &nbsp;&nbsp;&nbsp; 159486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/48 | 19096 | &nbsp;&nbsp;&nbsp; 18859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/48 | 676386 | &nbsp;&nbsp;&nbsp; 667950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/49 | 17292 | &nbsp;&nbsp;&nbsp; 17042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/49 | 78797 | &nbsp;&nbsp;&nbsp; 77803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/49 | 37264 | &nbsp;&nbsp;&nbsp; 36763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/01/50 | 158081 | &nbsp;&nbsp;&nbsp; 157812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/52 | 336975 | &nbsp;&nbsp;&nbsp; 330886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/53 | 338290 | &nbsp;&nbsp;&nbsp; 335879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/01/58 | 88926 | &nbsp;&nbsp;&nbsp; 86281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/41 | 6599 | &nbsp;&nbsp;&nbsp; 6716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/41 | 16155 | &nbsp;&nbsp;&nbsp; 16435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/41 | 5647 | &nbsp;&nbsp;&nbsp; 5747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/48 | 31647 | &nbsp;&nbsp;&nbsp; 32008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/53 | 79982 | &nbsp;&nbsp;&nbsp; 79716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/44 | 2057052 | &nbsp;&nbsp;&nbsp; 2148238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/53 | 242523 | &nbsp;&nbsp;&nbsp; 246821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/54 | 89236 | &nbsp;&nbsp;&nbsp; 90600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/34 | 37506 | &nbsp;&nbsp;&nbsp; 38612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/37 | 7631 | &nbsp;&nbsp;&nbsp; 8017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/37 | 105790 | &nbsp;&nbsp;&nbsp; 111479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/38 | 101918 | &nbsp;&nbsp;&nbsp; 107402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/38 | 37971 | &nbsp;&nbsp;&nbsp; 40310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/38 | 17083 | &nbsp;&nbsp;&nbsp; 18003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/40 | 102512 | &nbsp;&nbsp;&nbsp; 108030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/40 | 141905 | &nbsp;&nbsp;&nbsp; 149541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/41 | 538955 | &nbsp;&nbsp;&nbsp; 567934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/42 | 9773 | &nbsp;&nbsp;&nbsp; 10162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/54 | 686120 | &nbsp;&nbsp;&nbsp; 705173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/54 | 533228 | &nbsp;&nbsp;&nbsp; 545272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.478%, 1Y RFUCCT + 1.800%, 07/01/41 (c) | 2754 | &nbsp;&nbsp;&nbsp; 2833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/01/32 | 21818 | &nbsp;&nbsp;&nbsp; 22892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/32 | 6367 | &nbsp;&nbsp;&nbsp; 6674 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/01/35 | 7546 | &nbsp;&nbsp;&nbsp; $7895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/35 | 62564 | &nbsp;&nbsp;&nbsp; 65343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/01/36 | 109974 | &nbsp;&nbsp;&nbsp; 114511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/01/39 | 409878 | &nbsp;&nbsp;&nbsp; 429335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/01/54 | 144788 | &nbsp;&nbsp;&nbsp; 150494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/54 | 490565 | &nbsp;&nbsp;&nbsp; 509714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.509%, 1Y RFUCCT + 1.818%, 07/01/41 (c) | 5835 | &nbsp;&nbsp;&nbsp; 6085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.563%, 1Y RFUCCT + 1.700%, 06/01/42 (c) | 10990 | &nbsp;&nbsp;&nbsp; 11410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.713%, 1Y RFUCCT + 1.818%, 02/01/42 (c) | 17867 | &nbsp;&nbsp;&nbsp; 18544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.783%, 02/01/39 | 18145 | &nbsp;&nbsp;&nbsp; 18859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.318%, 1Y RFUCCT + 1.818%, 09/01/41 (c) | 5141 | &nbsp;&nbsp;&nbsp; 5310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.330%, 1Y RFUCCT + 1.830%, 10/01/41 (c) | 1655 | &nbsp;&nbsp;&nbsp; 1710 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/20/51 | 2637363 | &nbsp;&nbsp;&nbsp; 2148980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/20/50 | 189576 | &nbsp;&nbsp;&nbsp; 161727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/20/51 | 421401 | &nbsp;&nbsp;&nbsp; 363815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/20/51 | 565291 | &nbsp;&nbsp;&nbsp; 487083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/20/51 | 1425752 | &nbsp;&nbsp;&nbsp; 1228492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/20/51 | 332304 | &nbsp;&nbsp;&nbsp; 286325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/20/51 | 745967 | &nbsp;&nbsp;&nbsp; 642750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/42 | 142275 | &nbsp;&nbsp;&nbsp; 130394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/20/42 | 413014 | &nbsp;&nbsp;&nbsp; 372221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/20/43 | 378552 | &nbsp;&nbsp;&nbsp; 340973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/15/43 | 50287 | &nbsp;&nbsp;&nbsp; 46003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/43 | 31804 | &nbsp;&nbsp;&nbsp; 29095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/15/45 | 21478 | &nbsp;&nbsp;&nbsp; 19360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/45 | 30702 | &nbsp;&nbsp;&nbsp; 27630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/15/45 | 159543 | &nbsp;&nbsp;&nbsp; 143740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/45 | 11048 | &nbsp;&nbsp;&nbsp; 9942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/15/45 | 15426 | &nbsp;&nbsp;&nbsp; 13813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/15/45 | 86638 | &nbsp;&nbsp;&nbsp; 77970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/20/48 | 502758 | &nbsp;&nbsp;&nbsp; 455255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/20/51 | 65439 | &nbsp;&nbsp;&nbsp; 57778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/20/52 | 62231 | &nbsp;&nbsp;&nbsp; 54921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/15/41 | 97900 | &nbsp;&nbsp;&nbsp; 91828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/15/42 | 76301 | &nbsp;&nbsp;&nbsp; 71471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/15/42 | 100272 | &nbsp;&nbsp;&nbsp; 94052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/15/42 | 210659 | &nbsp;&nbsp;&nbsp; 197410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/15/42 | 143830 | &nbsp;&nbsp;&nbsp; 135523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/20/42 | 122117 | &nbsp;&nbsp;&nbsp; 115855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/20/46 | 614684 | &nbsp;&nbsp;&nbsp; 566098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/20/46 | 1511881 | &nbsp;&nbsp;&nbsp; 1395945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/47 | 97300 | &nbsp;&nbsp;&nbsp; 90321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/20/48 | 315452 | &nbsp;&nbsp;&nbsp; 287776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/48 | 331960 | &nbsp;&nbsp;&nbsp; 307551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/15/50 | 132083 | &nbsp;&nbsp;&nbsp; 120977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/20/52 | 146939 | &nbsp;&nbsp;&nbsp; 134745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/20/52 | 62102 | &nbsp;&nbsp;&nbsp; 55879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/20/39 | 38532 | &nbsp;&nbsp;&nbsp; 37514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/15/40 | 489357 | &nbsp;&nbsp;&nbsp; 470748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/40 | 31064 | &nbsp;&nbsp;&nbsp; 30031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/40 | 5165 | &nbsp;&nbsp;&nbsp; 4999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/20/40 | 362102 | &nbsp;&nbsp;&nbsp; 355838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/15/41 | 315763 | &nbsp;&nbsp;&nbsp; 304994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/41 | 12070 | &nbsp;&nbsp;&nbsp; 11659 |

---

**BHFTI-344**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Agency Sponsored Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/15/41 | 53867 | &nbsp;&nbsp;&nbsp; $51996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/41 | 231312 | &nbsp;&nbsp;&nbsp; 223310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/41 | 469124 | &nbsp;&nbsp;&nbsp; 454061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/41 | 78915 | &nbsp;&nbsp;&nbsp; 76222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/20/41 | 181910 | &nbsp;&nbsp;&nbsp; 176068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/41 | 207217 | &nbsp;&nbsp;&nbsp; 199704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/42 | 5841 | &nbsp;&nbsp;&nbsp; 5633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/15/42 | 11138 | &nbsp;&nbsp;&nbsp; 10744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/15/42 | 70432 | &nbsp;&nbsp;&nbsp; 67822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/20/42 | 241383 | &nbsp;&nbsp;&nbsp; 233631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/20/42 | 17988 | &nbsp;&nbsp;&nbsp; 17410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/42 | 7667 | &nbsp;&nbsp;&nbsp; 7387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/43 | 24347 | &nbsp;&nbsp;&nbsp; 23312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/44 | 417016 | &nbsp;&nbsp;&nbsp; 401039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/20/44 | 418815 | &nbsp;&nbsp;&nbsp; 402769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/20/44 | 24358 | &nbsp;&nbsp;&nbsp; 23425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/20/46 | 72675 | &nbsp;&nbsp;&nbsp; 69689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/20/48 | 69222 | &nbsp;&nbsp;&nbsp; 66134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/15/50 | 25372 | &nbsp;&nbsp;&nbsp; 24082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/20/50 | 28426 | &nbsp;&nbsp;&nbsp; 26985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/20/50 | 198576 | &nbsp;&nbsp;&nbsp; 187564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/39 | 432436 | &nbsp;&nbsp;&nbsp; 432067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/20/40 | 40181 | &nbsp;&nbsp;&nbsp; 40419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/15/40 | 137413 | &nbsp;&nbsp;&nbsp; 137145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/15/40 | 29536 | &nbsp;&nbsp;&nbsp; 29414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/20/40 | 4335 | &nbsp;&nbsp;&nbsp; 4358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/15/41 | 173716 | &nbsp;&nbsp;&nbsp; 172988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/15/41 | 14548 | &nbsp;&nbsp;&nbsp; 14422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/20/48 | 354835 | &nbsp;&nbsp;&nbsp; 351023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/20/48 | 243429 | &nbsp;&nbsp;&nbsp; 240664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/20/48 | 343349 | &nbsp;&nbsp;&nbsp; 339236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/20/49 | 53184 | &nbsp;&nbsp;&nbsp; 52514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/20/50 | 70045 | &nbsp;&nbsp;&nbsp; 68969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/39 | 17617 | &nbsp;&nbsp;&nbsp; 17911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/39 | 32737 | &nbsp;&nbsp;&nbsp; 33568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/39 | 28700 | &nbsp;&nbsp;&nbsp; 29305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/39 | 21814 | &nbsp;&nbsp;&nbsp; 22309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/40 | 12235 | &nbsp;&nbsp;&nbsp; 12421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/40 | 58121 | &nbsp;&nbsp;&nbsp; 58963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/41 | 25350 | &nbsp;&nbsp;&nbsp; 25695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/41 | 23893 | &nbsp;&nbsp;&nbsp; 24493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/20/52 | 1581879 | &nbsp;&nbsp;&nbsp; 1583098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/20/52 | 78103 | &nbsp;&nbsp;&nbsp; 78155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/20/52 | 77965 | &nbsp;&nbsp;&nbsp; 78109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/20/53 | 156569 | &nbsp;&nbsp;&nbsp; 156545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.470%, 08/20/59 (c) | 344 | &nbsp;&nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/39 | 5198 | &nbsp;&nbsp;&nbsp; 5449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/20/53 | 2165411 | &nbsp;&nbsp;&nbsp; 2193557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/53 | 147127 | &nbsp;&nbsp;&nbsp; 149126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/36 | 244526 | &nbsp;&nbsp;&nbsp; 257595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/20/54 | 506310 | &nbsp;&nbsp;&nbsp; 523150 |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.833%, 02/16/63 (b) (c) | 3191497 | &nbsp;&nbsp;&nbsp; 191290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.884%, 06/16/62 (b) (c) | 3599960 | &nbsp;&nbsp;&nbsp; 225425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.965%, 10/16/61 (b) (c) | 2730729 | &nbsp;&nbsp;&nbsp; 201129 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** | **Agency Mortgage-Backed Securities—(Continued)** |
| Government National Mortgage Association REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.965%, 05/16/62 (b) (c) | 6840091 | &nbsp;&nbsp;&nbsp; $414195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.971%, 06/16/61 (b) (c) | 3144023 | &nbsp;&nbsp;&nbsp; 224684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 07/16/60 | 172291 | &nbsp;&nbsp;&nbsp; 121144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.011%, 09/16/62 (b) (c) | 3620332 | &nbsp;&nbsp;&nbsp; 258118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.113%, 06/16/61 (b) (c) | 2815187 | &nbsp;&nbsp;&nbsp; 230292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.144%, 06/16/61 (b) (c) | 2532094 | &nbsp;&nbsp;&nbsp; 207723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.271%, 09/16/60 (b) (c) | 2713415 | &nbsp;&nbsp;&nbsp; 241034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.331%, 06/16/63 (b) (c) | 2563605 | &nbsp;&nbsp;&nbsp; 236366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.433%, 06/16/61 (b) (c) | 1985891 | &nbsp;&nbsp;&nbsp; 192399 |
| Government National Mortgage Association, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, TBA (d) | 2200000 | &nbsp;&nbsp;&nbsp; 1963668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, TBA (d) | 200000 | &nbsp;&nbsp;&nbsp; 182323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (d) | 2300000 | &nbsp;&nbsp;&nbsp; 2230084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, TBA (d) | 3800000 | &nbsp;&nbsp;&nbsp; 3779553 |
| Uniform Mortgage-Backed Security, TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, TBA (d) | 100000 | &nbsp;&nbsp;&nbsp; 80576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, TBA (d) | 3700000 | &nbsp;&nbsp;&nbsp; 3116657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, TBA (d) | 4500000 | &nbsp;&nbsp;&nbsp; 4240631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, TBA (d) | 1400000 | &nbsp;&nbsp;&nbsp; 1357801 |
|  |  | &nbsp;&nbsp;&nbsp; 165973664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Agency Sponsored Mortgage-Backed Securities <br>(Cost $217,799,370) <br>|  | &nbsp;&nbsp;&nbsp; 208151517 |
| **Foreign Government—6.0%** | **Foreign Government—6.0%** | **Foreign Government—6.0%** |
| **Sovereign — 6.0%** | **Sovereign — 6.0%** | **Sovereign — 6.0%** |
| Abu Dhabi Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 10/11/27 (144A) | 2860000 | &nbsp;&nbsp;&nbsp; 2829623 |
| Indonesia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/11/29 | 4410000 | &nbsp;&nbsp;&nbsp; 4485079 |
| Israel Government AID Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/18/33 | 9000000 | &nbsp;&nbsp;&nbsp; 9651611 |
| Israel Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/12/34 | 2500000 | &nbsp;&nbsp;&nbsp; 2566461 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 07/02/32 | 4643000 | &nbsp;&nbsp;&nbsp; 4793433 |
| Qatar Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/14/29 (144A) | 2740000 | &nbsp;&nbsp;&nbsp; 2749834 |
| Republic of Poland Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 04/06/26 (e) | 2820000 | &nbsp;&nbsp;&nbsp; 2807146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government <br>(Cost $30,437,985) <br>|  | &nbsp;&nbsp;&nbsp; 29883187 |
| **Non-Agency Mortgage-Backed Securities—1.4%** | **Non-Agency Mortgage-Backed Securities—1.4%** | **Non-Agency Mortgage-Backed Securities—1.4%** |
| **Collateralized Mortgage Obligations — 1.4%** | **Collateralized Mortgage Obligations — 1.4%** | **Collateralized Mortgage Obligations — 1.4%** |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.348%, 10/25/69 (144A) (f) | 591835 | &nbsp;&nbsp;&nbsp; 594671 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.803%, 06/25/64 (144A) (f) | 497009 | &nbsp;&nbsp;&nbsp; 501589 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/25/54 (144A) (c) | 163779 | &nbsp;&nbsp;&nbsp; 167162 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.966%, 06/25/65 (144A) (f) | 367704 | &nbsp;&nbsp;&nbsp; 370601 |

---

**BHFTI-345**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Non-Agency Mortgage-Backed Securities—(Continued)**

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal**<br> **Amount\***<br>| <br>**Value**<br>|
| **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** | **Collateralized Mortgage Obligations—(Continued)** |
| Morgan Stanley Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/25/54 (144A) (c) | 788825 | &nbsp;&nbsp;&nbsp; $805156 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.755%, 02/25/55 (144A) (f) | 1021374 | &nbsp;&nbsp;&nbsp; 1025910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.826%, 03/25/65 (144A) (f) | 375455 | &nbsp;&nbsp;&nbsp; 377693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.015%, 11/25/64 (144A) (f) | 905099 | &nbsp;&nbsp;&nbsp; 912693 |
| PRKCM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 04/25/57 (144A) (c) | 246692 | &nbsp;&nbsp;&nbsp; 245387 |
| PRPM Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.674%, 12/26/69 (144A) (f) | 235548 | &nbsp;&nbsp;&nbsp; 237401 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.774%, 05/25/65 (144A) (f) | 751233 | &nbsp;&nbsp;&nbsp; 756427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.976%, 01/25/70 (144A) (f) | 948627 | &nbsp;&nbsp;&nbsp; 955305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Non-Agency Mortgage-Backed Securities <br>(Cost $6,894,010) <br>|  | &nbsp;&nbsp;&nbsp; 6949995 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—2.2%** | **Short-Term Investments—2.2%** | **Short-Term Investments—2.2%** |
| **Repurchase Agreement—2.2%** | **Repurchase Agreement—2.2%** | **Repurchase Agreement—2.2%** |
| Fixed Income Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreement dated 09/30/25 at 3.000%, due on <br> 10/01/25, with a maturity value of $11,259,960; <br> collateralized by U.S. Treasury Note at 3.750%, maturing <br> 04/30/27, with a market value of $11,484,403<br>| 11259022 | &nbsp;&nbsp;&nbsp; 11259022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $11,259,022) <br>|  | &nbsp;&nbsp;&nbsp; 11259022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments—102.7% <br>(Cost $551,793,387) <br>|  | &nbsp;&nbsp;&nbsp; 514555854 |
| Other assets and liabilities (net)—(2.7)%  |  | &nbsp;&nbsp;&nbsp; (13712835)<br>|
| **Net Assets—100.0%**  |  | &nbsp;&nbsp;&nbsp; $500843019 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Principal amount stated in U.S. dollars unless otherwise noted.

(a) Principal amount of security is adjusted for inflation.

(b) Interest only security.

(c) Variable or floating rate security. The stated rate represents the rate at September 30, 2025. Maturity date shown for callable securities reflects the earliest possible call date. For 

---

| | |
|:---|:---|
|  | securities based on a published reference index and spread, the index and spread are <br> indicated in the description above. For certain variable rate securities, the coupon rate is <br> determined by the issuer/agent based on current market conditions. For certain asset- and <br> mortgage-backed securities, the coupon rate may fluctuate based on changes of the <br> underlying collateral or prepayments of principal. These securities do not indicate a reference <br> index and spread in their description above.<br>|
| (d) | TBA (To Be Announced) Securities are purchased on a forward commitment basis with an <br> approximate principal amount and no defined maturity date. The actual principal and <br> maturity date will be determined upon settlement date.<br>|
| (e) | All or a portion of the security was held on loan. As of September 30, 2025, the market value <br> of securities loaned was $568,397 and the collateral received consisted of non-cash collateral <br> with a value of $589,859. The non-cash collateral received consists of U.S. government <br> securities that are held in safe-keeping by the lending agent, or a third-party custodian, and <br> cannot be sold or repledged by the Portfolio.<br>|
| (f) | Security is a "step up" bond where coupon increases or steps up at a predetermined date. <br> Rate shown is current coupon rate.<br>|
| (144A) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be resold in transactions exempt from registration, normally to qualified <br> institutional buyers. As of September 30, 2025, the market value of 144A securities was <br> $17,746,012, which is 3.5% of net assets.<br>|

---

**BHFTI-346**

------

**Brighthouse Funds Trust I**

**Western Asset Management Government Income Portfolio**

**Schedule of Investments as of September 30, 2025 (Unaudited)**

**Investments in Derivative Instruments**

**Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Long** | **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br>**Value** | **Notional** <br>**Value** | **Value/** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>|
| U.S. Treasury Note 5 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; 101 | USD | 11028727 | &nbsp;&nbsp;&nbsp; $(48932)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts—Short** |  |  |  |  |  |
| U.S. Treasury Note 2 Year Futures | &nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp; (8)<br>| USD | (1667188)<br>| &nbsp;&nbsp;&nbsp; (1264)<br>|
| U.S. Treasury Note 10 Year Futures | &nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp; (90)<br>| USD | (10125000)<br>| &nbsp;&nbsp;&nbsp; 11986 |
| Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | Net Unrealized Depreciation | &nbsp;&nbsp;&nbsp; $(38210)<br>|

---

**Fair Value Hierarchy**

The following table summarizes the fair value hierarchy of the Portfolio's investments as of September 30, 2025. For more information about the Portfolio's policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Total U.S. Treasury & Government Agencies\* | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $258312133 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $258312133 |
| Total Agency Sponsored Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 208151517 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 208151517 |
| Total Foreign Government\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29883187 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 29883187 |
| Total Non-Agency Mortgage-Backed Securities\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6949995 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6949995 |
| Total Short-Term Investments\* | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11259022 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11259022 |
| Total Investments | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $514555854 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $514555854 |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Appreciation) | &nbsp;&nbsp;&nbsp; $11986 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $11986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts (Unrealized Depreciation) | &nbsp;&nbsp;&nbsp; (50196)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (50196)<br>|
| Total Futures Contracts | &nbsp;&nbsp;&nbsp; $(38210)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(38210)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Schedule of Investments for additional detailed categorizations.

**BHFTI-347**

------

**Brighthouse Funds Trust I**

**Notes to the Schedule of Investments**

**Investment Valuation and Fair Value Measurements**

Each Portfolio values its investments for purposes of calculating its net asset value ("NAV") using procedures that allow for a variety of methodologies to be used to value the Portfolio's investments. The specific methodology used for an investment may vary based on the market data available for a specific investment at the time a Portfolio calculates its NAV or based on other considerations. The procedures also permit a level of judgment to be used in the valuation process.

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

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

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

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

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels. A reconciliation of Level 3 securities held by a Portfolio, if any, will be disclosed following the fair value hierarchy table in the Portfolio's Schedule of Investments**.**

Debt securities, including corporate, convertible and municipal bonds and notes; obligations of the U.S. Treasury and U.S. government agencies; foreign sovereign issues; and non-U.S. bonds, are generally valued based upon evaluated or composite bid quotations obtained from third-party pricing services and/or brokers and dealers selected by Brighthouse Investment Advisers, LLC (the "Adviser") (each a "pricing service"). Such pricing services may use matrix pricing, which considers observable inputs including, among other things, issuer details, maturity dates, interest rates, yield curves, rates of prepayment, credit risks/spreads, default rates, reported trades, broker dealer quotes and quoted prices for similar assets. Short-term obligations with a remaining maturity of sixty days or less may be valued at amortized cost in the absence of market quotes, so long as the amortized cost value of such short-term debt instrument is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. Floating rate loans are generally valued based upon an evaluated or composite average of aggregate bid and ask quotations supplied by brokers or dealers, as obtained from the pricing service. Securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Mortgage and asset-backed securities are generally valued based upon evaluated or composite bid quotations obtained from pricing services selected by the Adviser. These securities are usually issued as separate tranches, or classes, of securities within each deal. The pricing models for these securities usually consider tranche level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche and incorporate deal collateral performance, as available. Mortgage and asset-backed securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Domestic and foreign equity securities, such as common stock, exchange-traded funds, rights, warrants, and preferred stock, that are traded on a securities exchange on a valuation date are generally valued at their last quoted sale price or official closing price on the primary exchange for such security, or, if no sales occurred on that day, at the last reported bid price. Equity securities traded over-the-counter ("OTC") are generally valued at the last reported bid price. In the event of a major exchange closing during the trading day, the Adviser may use other market information obtained from quotation reporting systems, established market makers, or pricing services in valuing the securities. Valuation adjustments may be applied to certain foreign equity securities that are traded solely on foreign exchanges that close before the time as of which a Portfolio determines its NAV to account for the market movement between the close of the foreign exchanges and the time as of which a Portfolio determines its NAV. A Portfolio may use a systematic fair valuation model provided by a pricing service to value securities principally traded in these foreign markets to adjust for possible market movements or other changes that may occur between the close of the foreign exchanges and the time as of which a Portfolio determines its NAV. Foreign equity securities valued using these valuation adjustments are generally categorized as Level 2 within the fair value hierarchy. Equity securities that are actively traded, and have no valuation adjustments applied, are categorized as Level 1 within the fair value hierarchy. Other equity securities traded on inactive markets, or valued in reference to similar instruments traded on active markets, are generally categorized as Level 2 within the fair value hierarchy.

Investments in registered open-end management investment companies (including the Underlying BIA Portfolios) are valued at the reported NAV per share on the valuation date and are categorized as Level 1 within the fair value hierarchy.

**BHFTI-348**

------

**Brighthouse Funds Trust I**

**Notes to the Schedule of Investments**

**Investment Valuation and Fair Value Measurements—(Continued)**

Foreign currency forward contracts are valued through a third-party pricing service by interpolating between forward and spot currency rates in the London foreign exchange markets as of a designated hour on a valuation day. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Options, whether on securities, indices, futures contracts, or otherwise, traded on exchanges are valued at the last sale price available as of the close of business on a valuation day or, if there is no such price available, at the last reported bid price. These types of options are categorized as Level 1 within the fair value hierarchy. Futures contracts that are traded on commodity exchanges are valued at their settlement prices established by the exchanges on which they are traded as of the close of such exchanges and are categorized as Level 1 within the fair value hierarchy.

Options, including options on swaps ("swaptions"), and currencies, and synthetic futures contracts that are traded OTC are generally valued based upon interdealer bid and ask prices or prices provided by pricing service providers who use a series of techniques, including simulation pricing models, to determine the value of the contracts. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, credit curves, measures of volatility and exchange rates. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Swap contracts (other than centrally cleared swaps listed or traded on a multilateral or trade facility platform) are marked-to-market daily based on quotations and prices supplied by market makers, broker-dealers and other pricing services. Such quotations and prices are derived utilizing observable data, including the underlying reference securities or indices, credit spread quotations and expected default recovery rates determined by the pricing service. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange or a pricing service when the exchange price is not available. For centrally cleared credit default swaps, the clearing facility requires its members to provide actionable price levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. These securities are categorized as Level 2 within the fair value hierarchy. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates, including, but not limited to, the overnight index swap rate, the respective interbank offered forward rate or other interest rates, yield curves or credit spreads to produce the daily settlement price. These securities are categorized as Level 2 within the fair value hierarchy.

If no current market quotation is readily available or market value quotations are deemed to be unreliable for an investment, the fair value of the investment will be determined in accordance with fair valuation procedures adopted by the Adviser. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that a Portfolio can access at the measurement date, provided that a quotation will not be readily available if it is not reliable.

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees (the "Board" or "Trustees") of the Trust has designated Brighthouse Investment Advisers, acting through its Valuation Committee ("Committee"), as the Portfolio's "valuation designee" to perform each Portfolio's fair value determinations. The Board oversees Brighthouse Investment Advisers in its role as the Valuation Designee and receives reports from Brighthouse Investment Advisers regarding its process and the valuation of each Portfolio's investments to assist with such oversight.

No single standard for determining the fair value of an investment can be set forth because fair value depends upon the facts and circumstances with respect to each investment. Information relating to any relevant factors may be obtained by the Committee from any appropriate source, including the subadviser of a Portfolio, the Custodian, a pricing service, market maker and/or broker for such security or the issuer. Appropriate methodologies for determining fair value under particular circumstances may include: matrix pricing, a discounted cash flow analysis, comparisons of securities with comparable characteristics, value based on multiples of earnings, discount from market price of similar marketable securities or a combination of these and other methods.

For information regarding a Portfolio's other significant accounting policies, please refer to the Portfolio's most recent Semiannual or Annual Financial Statements.

**BHFTI-349**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Brighthouse Funds Trust I

- **b. Investment Company Act file number:** 811-10183

- **c. CIK number of Registrant:** 0001126087

- **d. LEI of Registrant:** 549300LQX1AREJYGF247

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

  - **Street Address 1:** Brighthouse Investment Advisers, LLC

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28277

  - **Telephone number:** 980-949-5089

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

- **a. Name of Series:** Schroders Global Multi-Asset Portfolio

- **b. EDGAR series identifier (if any):** S000036842

- **c. LEI of Series:** 8OCFT4TTGW72E43PUE28

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

- **a. Date of fiscal year-end:** 2025-12-31

- **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:** $689415814.45

**Total Liabilities:** $83983380.79

**Net Assets:** $605432433.66

**Amount of Assets Invested in Other Investment Companies:** $153074.70

**Delayed Delivery Securities:** $3046835.17

**Cash Not Reported:** $3953138.99

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -244.80000000 | **1-Year:** -7546.01000000 | **5-Year:** -52519.48000000 | **10-Year:** -70822.36000000 | **30-Year:** -33171.52000000

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

- **3-Month:** -37.64000000 | **1-Year:** -70.26000000 | **5-Year:** -833.81000000 | **10-Year:** -318.96000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000112671 | 0.17%                | 2.03%                | 2.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $942245.92               | $3080261.74                                |
| Month 2  | $4777077.35              | $4551249.97                                |
| Month 3  | $6902238.77              | $7443262.61                                |

**Designated Index Information**

- **Index Name:** 60% MSCI World Index 40% Bloomberg US Corporate Bond Index

- **Index Identifier:** 60%MXWO 40%LUACTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PHILLIPS 66 CO                                            | Phillips 66 Co                                                                  | CUSIP: 718547BA9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501337.50    | 0.08%             | 2056-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| Honeywell International Inc                               | Honeywell International Inc                                                     | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      1255 | NS      | $264177.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHPEAK OP LLC                                         | Healthpeak OP LLC                                                               | CUSIP: 42250GAA1<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    532000 | PA      | $543552.58    | 0.09%             | 2035-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| B2Gold Corp                                               | B2Gold Corp                                                                     | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |     18368 | NS      | $90803.94     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MARS INC                                                  | Mars Inc                                                                        | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022136.53   | 0.17%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd                        | Hong Kong Exchanges & Clearing Ltd                                              | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |      5200 | NS      | $295555.11    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| KEYCORP                                                   | KeyCorp                                                                         | CUSIP: 49326EEJ8<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   1417000 | PA      | $1327754.51   | 0.22%             | 2029-10-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: —       |
| EQUINIX INC                                               | Equinix Inc                                                                     | CUSIP: 29444UBH8<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    824000 | PA      | $743514.72    | 0.12%             | 2030-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                       | American Tower Corp                                                             | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    750000 | PA      | $676000.19    | 0.11%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: —       |
| BARCLAYS PLC                                              | Barclays PLC                                                                    | CUSIP: 06738EBR5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1477000 | PA      | $1336686.79   | 0.22%             | 2032-03-10      | Fixed         | 2.67%                 | No            |                  2 | On Loan: —       |
| Pure Storage Inc                                          | Pure Storage Inc                                                                | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      3653 | NS      | $306157.93    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| LVMH Moet Hennessy Louis Vuitton SE                       | LVMH Moet Hennessy Louis Vuitton SE                                             | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |       801 | NS      | $490119.19    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Jabil Inc                                                 | Jabil Inc                                                                       | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |       715 | NS      | $155276.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BOC Hong Kong Holdings Ltd                                | BOC Hong Kong Holdings Ltd                                                      | CUSIP: 000000000<br>LEI: 254900JB98W77JDJMW15 | Long             | EC               | CORP              | HK        |      9500 | NS      | $44659.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cisco Systems Inc                                         | Cisco Systems Inc                                                               | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     17597 | NS      | $1203986.74   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                                              | Assurant Inc                                                                    | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |       405 | NS      | $87723.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Carpenter Technology Corp                                 | Carpenter Technology Corp                                                       | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |       255 | NS      | $62612.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OMV AG                                                    | OMV AG                                                                          | CUSIP: 000000000<br>LEI: 549300V62YJ9HTLRI486 | Long             | EC               | CORP              | AT        |      1559 | NS      | $83137.10     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Salesforce Inc                                            | Salesforce Inc                                                                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      5392 | NS      | $1277904.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                                | Intuit Inc                                                                      | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1921 | NS      | $1311870.11   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                                                   | Dow Inc                                                                         | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      2721 | NS      | $62392.53     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| CAPITAL ONE FINANCIAL CO                                  | Capital One Financial Corp                                                      | CUSIP: 14040HCG8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    345000 | PA      | $297788.88    | 0.05%             | 2032-07-29      | Fixed         | 2.36%                 | No            |                  2 | On Loan: —       |
| Imperial Brands PLC                                       | Imperial Brands PLC                                                             | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |      1229 | NS      | $52207.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Omega Healthcare Investors Inc                            | Omega Healthcare Investors Inc                                                  | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |      6223 | NS      | $262735.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiaomi Corp                                               | Xiaomi Corp                                                                     | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |     32600 | NS      | $226989.45    | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| L3Harris Technologies Inc                                 | L3Harris Technologies Inc                                                       | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |       171 | NS      | $52225.11     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp                                   | Zebra Technologies Corp                                                         | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |       183 | NS      | $54380.28     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc                                 | Warner Bros Discovery Inc                                                       | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |      8403 | NS      | $164110.59    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| United Parcel Service Inc                                 | United Parcel Service Inc                                                       | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |       856 | NS      | $71501.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                                                 | Nokia Oyj                                                                       | CUSIP: 000000000<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |     12696 | NS      | $60834.53     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollar General Corp                                       | Dollar General Corp                                                             | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      3551 | NS      | $366995.85    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp                                               | ITOCHU Corp                                                                     | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |      4700 | NS      | $270277.22    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Blackrock Inc                                             | Blackrock Inc                                                                   | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1215 | NS      | $1416532.05   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                                             | SoftBank Corp                                                                   | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |     33700 | NS      | $49566.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Accenture PLC                                             | Accenture PLC                                                                   | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      2010 | NS      | $495666.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                                | L'Oreal SA                                                                      | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |       876 | NS      | $379573.12    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                                  | Host Hotels & Resorts LP                                                        | CUSIP: 44107TBB1<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |    500000 | PA      | $512120.07    | 0.08%             | 2034-07-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| ABBVIE INC                                                | AbbVie Inc                                                                      | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   3705000 | PA      | $3121391.70   | 0.52%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| FLORIDA POWER & LIGHT CO                                  | Florida Power & Light Co                                                        | CUSIP: 341081GU5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2086319.18   | 0.34%             | 2034-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| Stifel Financial Corp                                     | Stifel Financial Corp                                                           | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |       398 | NS      | $45161.06     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB                                                   | Saab AB                                                                         | CUSIP: 000000000<br>LEI: 549300ZHO4JCQQI13M69 | Long             | EC               | CORP              | SE        |      2694 | NS      | $164101.82    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                            | American Electric Power Co Inc                                                  | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |       609 | NS      | $68512.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                                         | General Motors Co                                                               | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      2323 | NS      | $141633.31    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                                      | Western Digital Corp                                                            | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |       878 | NS      | $105412.68    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Boliden AB                                                | Boliden AB                                                                      | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |      1311 | NS      | $53506.18     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                               | Alnylam Pharmaceuticals Inc                                                     | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       343 | NS      | $156408.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp                                       | Barrick Mining Corp                                                             | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |      1673 | NS      | $54949.22     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO                                       | American Express Co                                                             | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    781000 | PA      | $794595.94    | 0.13%             | 2033-07-20      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                                               | Vistra Corp                                                                     | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      1053 | NS      | $206303.76    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC                                 | Flutter Entertainment PLC                                                       | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |       370 | NS      | $96272.48     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Welltower Inc                                             | Welltower Inc                                                                   | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |      4840 | NS      | $862197.60    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd                              | Chugai Pharmaceutical Co Ltd                                                    | CUSIP: 000000000<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |      1500 | NS      | $66352.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                              | KBC Group NV                                                                    | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |       817 | NS      | $97924.51     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MSCI Inc                                                  | MSCI Inc                                                                        | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |       362 | NS      | $205402.42    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                                | Chipotle Mexican Grill Inc                                                      | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4959 | NS      | $194343.21    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo AB                                                  | Volvo AB                                                                        | CUSIP: 000000000<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |      5380 | NS      | $155151.80    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Progressive Corp/The                                      | Progressive Corp/The                                                            | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      3761 | NS      | $928778.95    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc                               | American Water Works Co Inc                                                     | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |       312 | NS      | $43427.28     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Atlassian Corp                                            | Atlassian Corp                                                                  | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |       377 | NS      | $60206.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc                                | Vertex Pharmaceuticals Inc                                                      | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |       959 | NS      | $375582.76    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                                       | Dominion Energy Inc                                                             | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      1846 | NS      | $112919.82    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Mondelez International Inc                                | Mondelez International Inc                                                      | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      5869 | NS      | $366636.43    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Citibank NA                                               | PURCHASED USD / SOLD BRL                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $11920.09     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Okta Inc                                                  | Okta Inc                                                                        | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      1723 | NS      | $157999.10    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                                        | Union Pacific Corp                                                              | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      2306 | NS      | $545069.22    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Aristocrat Leisure Ltd                                    | Aristocrat Leisure Ltd                                                          | CUSIP: 000000000<br>LEI: 529900TE2HO3OZKYKC27 | Long             | EC               | CORP              | AU        |      2315 | NS      | $107517.08    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Marubeni Corp                                             | Marubeni Corp                                                                   | CUSIP: 000000000<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |      2000 | NS      | $49905.61     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                         | Johnson & Johnson                                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      8345 | NS      | $1547329.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                        | Realty Income Corp                                                              | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |      1228 | NS      | $74650.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                                           | McDonald's Corp                                                                 | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      2701 | NS      | $820806.89    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES                                    | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2070000 | PA      | $2104370.28   | 0.35%             | 2027-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                                               | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |      6400 | NS      | $90053.10     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings PLC                                  | Rolls-Royce Holdings PLC                                                        | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |     27354 | NS      | $437931.86    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems PLC                                           | BAE Systems PLC                                                                 | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |      6780 | NS      | $187872.71    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                    | UnitedHealth Group Inc                                                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      4804 | NS      | $1658821.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                                    | BP PLC                                                                          | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     56978 | NS      | $326851.10    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| COMCAST CORP                                              | Comcast Corp                                                                    | CUSIP: 20030NDS7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3079855.00   | 0.51%             | 2051-11-01      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                                   | National Bank of Canada                                                         | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      1589 | NS      | $168787.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Clorox Co/The                                             | Clorox Co/The                                                                   | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |       372 | NS      | $45867.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                                                | CUSIP: 063671101<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | EC               | CORP              | CA        |      2028 | NS      | $264265.14    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY OP LLC                                       | Kimco Realty OP LLC                                                             | CUSIP: 49447BAB9<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |    781000 | PA      | $776111.42    | 0.13%             | 2035-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| Cochlear Ltd                                              | Cochlear Ltd                                                                    | CUSIP: 000000000<br>LEI: 5493001OLLWY8KV5UC08 | Long             | EC               | CORP              | AU        |       229 | NS      | $42362.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                     | Wells Fargo & Co                                                                | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1994996.52   | 0.33%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| ASML Holding NV                                           | ASML Holding NV                                                                 | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      1372 | NS      | $1337648.35   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Philip Morris International Inc                           | Philip Morris International Inc                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1933 | NS      | $313532.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc                                        | United Rentals Inc                                                              | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       298 | NS      | $284488.68    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                                           | Brookfield Corp                                                                 | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |      3139 | NS      | $215379.11    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Bilibili Inc                                              | Bilibili Inc                                                                    | CUSIP: 090040106<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | KY        |      3020 | NS      | $84831.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY                                            | Morgan Stanley                                                                  | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    672000 | PA      | $627939.92    | 0.10%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp                      | International Business Machines Corp                                            | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      4839 | NS      | $1365372.24   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                              | British American Tobacco PLC                                                    | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |      1982 | NS      | $105177.20    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Pentair PLC                                               | Pentair PLC                                                                     | CUSIP: 000000000<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |      1025 | NS      | $113529.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Group Ltd                                       | Macquarie Group Ltd                                                             | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |      1266 | NS      | $184130.25    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                               | PURCHASED BRL / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |         1 | NC      | $105896.53    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Valero Energy Corp                                        | Valero Energy Corp                                                              | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |       727 | NS      | $123779.02    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                             | Amphenol Corp                                                                   | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      7731 | NS      | $956711.25    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                                          | Wells Fargo & Co                                                                | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     12048 | NS      | $1009863.36   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                              | Broadcom Inc                                                                    | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    935000 | PA      | $808929.87    | 0.13%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: —       |
| Marathon Petroleum Corp                                   | Marathon Petroleum Corp                                                         | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       818 | NS      | $157661.32    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc                        | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |     49500 | NS      | $784147.94    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale                                          | Societe Generale                                                                | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | RA               | CORP              | US        |   1300000 | PA      | $1300000.00   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd                          | Singapore Telecommunications Ltd                                                | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |    100200 | NS      | $320558.44    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                        | NextEra Energy Inc                                                              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     16107 | NS      | $1215917.43   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL, LONDON                                  | BANK OF MONTREAL, LONDON                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    997280 | PA      | $997280.00    | 0.16%             | 2025-10-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hilton Worldwide Holdings Inc                             | Hilton Worldwide Holdings Inc                                                   | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       961 | NS      | $249321.84    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                                              | WP Carey Inc                                                                    | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               |  | US        |       680 | NS      | $45947.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BPER Banca SPA                                            | BPER Banca SPA                                                                  | CUSIP: 000000000<br>LEI: N747OI7JINV7RUUH6190 | Long             | EC               | CORP              | IT        |      4266 | NS      | $47401.74     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| General Mills Inc                                         | General Mills Inc                                                               | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |      1566 | NS      | $78957.72     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| DR Horton Inc                                             | DR Horton Inc                                                                   | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      1426 | NS      | $241664.22    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Paychex Inc                                               | Paychex Inc                                                                     | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      1388 | NS      | $175942.88    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesco PLC                                                 | Tesco PLC                                                                       | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |      9923 | NS      | $59480.98     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                           | CVS Health Corp                                                                 | CUSIP: 126650DV9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2432000 | PA      | $2311051.78   | 0.38%             | 2053-02-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| Citibank NA                                               | PURCHASED USD / SOLD BRL                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $11850.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Terna - Rete Elettrica Nazionale                          | Terna - Rete Elettrica Nazionale                                                | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |     30524 | NS      | $310076.09    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Schlumberger NV                                           | Schlumberger NV                                                                 | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |      2524 | NS      | $86749.88     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                                               | Zscaler Inc                                                                     | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |       872 | NS      | $261303.52    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                                                   | MPLX LP                                                                         | CUSIP: 55336VCC2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1008000 | PA      | $1010189.71   | 0.17%             | 2035-09-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| AbbVie Inc                                                | AbbVie Inc                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      8620 | NS      | $1995874.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                         | MSCI WORLD INDEX DEC25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       159 | NC      | $-13365.05    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Furukawa Electric Co Ltd                                  | Furukawa Electric Co Ltd                                                        | CUSIP: 000000000<br>LEI: 353800TJR1DQ3P1QR918 | Long             | EC               | CORP              | JP        |      1200 | NS      | $73588.66     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Gaztransport Et Technigaz SA                              | Gaztransport Et Technigaz SA                                                    | CUSIP: 000000000<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |      1508 | NS      | $278874.86    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                   | Pfizer Investment Enterprises Pte Ltd                                           | CUSIP: 716973AE2<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   2000000 | PA      | $2020503.30   | 0.33%             | 2033-05-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Asahi Group Holdings Ltd                                  | Asahi Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |      3600 | NS      | $43193.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Publicis Groupe SA                                        | Publicis Groupe SA                                                              | CUSIP: 000000000<br>LEI: 2138004KW8BV57III342 | Long             | EC               | CORP              | FR        |       490 | NS      | $47033.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                                  | New York Life Global Funding                                                    | CUSIP: 64952WFP3<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   1682000 | PA      | $1688939.78   | 0.28%             | 2028-07-25      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| Seagate Technology Holdings PLC                           | Seagate Technology Holdings PLC                                                 | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |       471 | NS      | $111184.26    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Wesfarmers Ltd                                            | Wesfarmers Ltd                                                                  | CUSIP: 000000000<br>LEI: 5493003L32ZX9557ST85 | Long             | EC               | CORP              | AU        |      3925 | NS      | $239454.24    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                                              | Unilever PLC                                                                    | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |      9430 | NS      | $557427.49    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Products and Chemicals Inc                            | Air Products and Chemicals Inc                                                  | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       355 | NS      | $96815.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| nVent Electric PLC                                        | nVent Electric PLC                                                              | CUSIP: 000000000<br>LEI: 254900LK60A9DK5W5N81 | Long             | EC               | CORP              | IE        |       805 | NS      | $79405.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth Bank of Australia                            | Commonwealth Bank of Australia                                                  | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | EC               | CORP              | AU        |      3122 | NS      | $345198.24    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $642.26       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Disco Corp                                                | Disco Corp                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       200 | NS      | $62827.51     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ventas Inc                                                | Ventas Inc                                                                      | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |      8156 | NS      | $570838.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                                  | Plains All American Pipeline LP / PAA Finance Corp                              | CUSIP: 72650RBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    509000 | PA      | $515397.16    | 0.09%             | 2036-01-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Ltd                                             | Rio Tinto Ltd                                                                   | CUSIP: 000000000<br>LEI: 529900X2VMAQT2PE0V24 | Long             | EC               | CORP              | AU        |       893 | NS      | $72198.58     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                                    | SAP SE                                                                          | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |      4321 | NS      | $1158424.00   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                                  | Host Hotels & Resorts LP                                                        | CUSIP: 44107TBC9<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |    412000 | PA      | $414718.04    | 0.07%             | 2035-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Amadeus IT Group SA                                       | Amadeus IT Group SA                                                             | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |      1360 | NS      | $107639.68    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| COUSINS PROPERTIES LP                                     | Cousins Properties LP                                                           | CUSIP: 222793AC5<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              |  | US        |    594000 | PA      | $608309.10    | 0.10%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Olympus Corp                                              | Olympus Corp                                                                    | CUSIP: 000000000<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |      2300 | NS      | $29140.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanwa Holdings Corp                                       | Sanwa Holdings Corp                                                             | CUSIP: 000000000<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |      2200 | NS      | $63040.23     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Italgas SpA                                               | Italgas SpA                                                                     | CUSIP: 000000000<br>LEI: 815600F25FF44EF1FA76 | Long             | EC               | CORP              | IT        |     42974 | NS      | $395414.26    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Primerica Inc                                             | Primerica Inc                                                                   | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |       141 | NS      | $39140.19     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp                                            | Advantest Corp                                                                  | CUSIP: 000000000<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |      3400 | NS      | $339933.34    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDIN                                  | MassMutual Global Funding II                                                    | CUSIP: 57629W3S7<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |   1516000 | PA      | $1506864.77   | 0.25%             | 2031-09-17      | Fixed         | 4.35%                 | No            |                  2 | On Loan: —       |
| Swiss Life Holding AG                                     | Swiss Life Holding AG                                                           | CUSIP: 000000000<br>LEI: 5493000KUC3Z24U77V93 | Long             | EC               | CORP              | CH        |        41 | NS      | $44192.80     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                          | ASR Nederland NV                                                                | CUSIP: 000000000<br>LEI: 7245000G0HS48PZWUD53 | Long             | EC               | CORP              | NL        |      1487 | NS      | $101199.12    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                              | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      2204 | NS      | $1068984.08   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                                     | Costco Wholesale Corp                                                           | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      2216 | NS      | $2051196.08   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| OVINTIV INC                                               | Ovintiv Inc                                                                     | CUSIP: 292505AD6<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    638000 | PA      | $681268.68    | 0.11%             | 2034-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                         | Expedia Group Inc                                                               | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |       210 | NS      | $44887.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                                                 | Holcim AG                                                                       | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |      3378 | NS      | $287492.02    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XDA0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    772000 | PA      | $794161.01    | 0.13%             | 2035-08-03      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Endesa SA                                                 | Endesa SA                                                                       | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |      3541 | NS      | $113148.89    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cloudflare Inc                                            | Cloudflare Inc                                                                  | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      1494 | NS      | $320597.46    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrefour SA                                              | Carrefour SA                                                                    | CUSIP: 000000000<br>LEI: 549300B8P6MUJ1YWTS08 | Long             | EC               | CORP              | FR        |      3035 | NS      | $45954.36     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Software Inc/Canada                         | Constellation Software Inc/Canada                                               | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |       151 | NS      | $409912.33    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                                     | Uber Technologies Inc                                                           | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     13304 | NS      | $1303392.88   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION                                      | M&T Bank Corp                                                                   | CUSIP: 55261FAZ7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    650000 | PA      | $654941.88    | 0.11%             | 2035-07-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| Rexel SA                                                  | Rexel SA                                                                        | CUSIP: 000000000<br>LEI: 969500N6AVPA51648T62 | Long             | EC               | CORP              | FR        |      1029 | NS      | $33978.29     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp                       | Cognizant Technology Solutions Corp                                             | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |       814 | NS      | $54594.98     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Keyera Corp                                               | Keyera Corp                                                                     | CUSIP: 493271100<br>LEI: 254900LXI62FUHZGH122 | Long             | EC               | CORP              | CA        |      1232 | NS      | $41332.24     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |      4193 | NS      | $382226.39    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| eBay Inc                                                  | eBay Inc                                                                        | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      1180 | NS      | $107321.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc                                      | WEC Energy Group Inc                                                            | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      1371 | NS      | $157102.89    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| EOG Resources Inc                                         | EOG Resources Inc                                                               | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      3228 | NS      | $361923.36    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                                                     | 3M Co                                                                           | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      2037 | NS      | $316101.66    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                                           | Sony Group Corp                                                                 | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     22600 | NS      | $648511.71    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| NIKE Inc                                                  | NIKE Inc                                                                        | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      3173 | NS      | $221253.29    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                                 | Airbus SE                                                                       | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |      1011 | NS      | $236336.74    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc                                  | Agilent Technologies Inc                                                        | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      1236 | NS      | $158640.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd                           | Mitsubishi Heavy Industries Ltd                                                 | CUSIP: 000000000<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |      4000 | NS      | $104520.04    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                                                 | Shell PLC                                                                       | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     22527 | NS      | $802041.93    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| TFI International Inc                                     | TFI International Inc                                                           | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |       132 | NS      | $11616.99     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                                              | UBS Group AG                                                                    | CUSIP: 225401AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3617000 | PA      | $3347052.04   | 0.55%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: —       |
| Goldman Sachs International                               | PURCHASED AUD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | AU        |         1 | NC      | $10433.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                      | Howmet Aerospace Inc                                                            | CUSIP: 443201AC2<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1539055.44   | 0.25%             | 2031-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| BACARDI-MARTINI BV                                        | Bacardi-Martini BV                                                              | CUSIP: 05634WAB8<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | NL        |    771000 | PA      | $801747.11    | 0.13%             | 2035-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Micron Technology Inc                                     | Micron Technology Inc                                                           | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      3967 | NS      | $663758.44    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                               | PURCHASED USD / SOLD KRW                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $-23854.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos Inc/The                                      | Williams Cos Inc/The                                                            | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      7664 | NS      | $485514.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp                                  | Renesas Electronics Corp                                                        | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |      3800 | NS      | $43657.21     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HubSpot Inc                                               | HubSpot Inc                                                                     | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       143 | NS      | $66895.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                     | Mitsui Fudosan Co Ltd                                                           | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |     11800 | NS      | $128905.61    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                  | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAX9<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1078000 | PA      | $1093443.03   | 0.18%             | 2030-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED USD / SOLD JPY                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $41838.99     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                                        | Deutsche Boerse AG                                                              | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |       777 | NS      | $208229.50    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                                                   | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      7105 | NS      | $721157.50    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd                                      | Evolution Mining Ltd                                                            | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |      5490 | NS      | $39550.97     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                  | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAZ4<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    286000 | PA      | $293374.60    | 0.05%             | 2030-05-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Chubb Ltd                                                 | Chubb Ltd                                                                       | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      3498 | NS      | $987310.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Capcom Co Ltd                                             | Capcom Co Ltd                                                                   | CUSIP: 000000000<br>LEI: 529900JJWQKXS3TC8744 | Long             | EC               | CORP              | JP        |      2900 | NS      | $78939.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                            | Phillips 66 Co                                                                  | CUSIP: 718547AZ5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    667000 | PA      | $661750.71    | 0.11%             | 2056-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sea Ltd                                                   | Sea Ltd                                                                         | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |      2006 | NS      | $358532.38    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Futures Exchange Ltd.                           | HANG SENG IDX FUT OCT25                                                         | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | N/A              | DE               |  | HK        |        36 | NC      | $164466.29    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc/The                      | PNC Financial Services Group Inc/The                                            | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      1882 | NS      | $378150.26    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                                    | Daimler Truck Finance North America LLC                                         | CUSIP: 233853BF6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   1056000 | PA      | $1090929.61   | 0.18%             | 2035-01-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| Chicago Board of Trade                                    | US ULTRA BOND CBT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        19 | NC      | $49338.52     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                                     | Spotify Technology SA                                                           | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |       844 | NS      | $589112.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                              | Iberdrola SA                                                                    | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |     38243 | NS      | $724638.52    | 0.12%             |  |  |  | No            |                  2 | On Loan: —       |
| General Dynamics Corp                                     | General Dynamics Corp                                                           | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |       672 | NS      | $229152.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                                     | Robinhood Markets Inc                                                           | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |      2835 | NS      | $405915.30    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Resources Ltd                               | Northern Star Resources Ltd                                                     | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |      3150 | NS      | $49679.02     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd                                    | DBS Group Holdings Ltd                                                          | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     14120 | NS      | $559221.44    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                           | Xcel Energy Inc                                                                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |       618 | NS      | $49841.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Citibank NA                                               | PURCHASED BRL / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |         1 | NC      | $-37077.29    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                        | Regal Rexnord Corp                                                              | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $536773.15    | 0.09%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: —       |
| Cheniere Energy Inc                                       | Cheniere Energy Inc                                                             | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       960 | NS      | $225580.80    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                                        | First Horizon Corp                                                              | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |      2033 | NS      | $45966.13     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                    | UnitedHealth Group Inc                                                          | CUSIP: 91324PDU3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   3334000 | PA      | $2496051.71   | 0.41%             | 2049-08-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Allegion plc                                              | Allegion plc                                                                    | CUSIP: 000000000<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |      1039 | NS      | $184266.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                                              | Comcast Corp                                                                    | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      9244 | NS      | $290446.48    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                                                | US Bancorp                                                                      | CUSIP: 91159HJL5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2159000 | PA      | $2168453.57   | 0.36%             | 2034-02-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Fujitsu Ltd                                               | Fujitsu Ltd                                                                     | CUSIP: 000000000<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |      5600 | NS      | $131669.11    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                 | Toronto-Dominion Bank/The                                                       | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |      5226 | NS      | $417869.71    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC                               | James Hardie Industries PLC                                                     | CUSIP: 000000000<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |      1178 | NS      | $21919.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                              | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |      1316 | NS      | $105160.85    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Fixed Income Clearing Corp                                | FIXED INC CLEARING CORP.REPO                                                    | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |  18952621 | PA      | $18952621.11  | 3.13%             |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA            | ACS Actividades de Construccion y Servicios SA                                  | CUSIP: 000000000<br>LEI: 95980020140005558665 | Long             | EC               | CORP              | ES        |      1608 | NS      | $128614.43    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Atmos Energy Corp                                         | Atmos Energy Corp                                                               | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      1486 | NS      | $253734.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Toray Industries Inc                                      | Toray Industries Inc                                                            | CUSIP: 000000000<br>LEI: 35380099TCYR5FHT0A11 | Long             | EC               | CORP              | JP        |     13200 | NS      | $84219.25     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Xero Ltd                                                  | Xero Ltd                                                                        | CUSIP: 000000000<br>LEI: 254900UG5D8YST164N14 | Long             | EC               | CORP              | NZ        |       421 | NS      | $44003.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Moody's Corp                                              | Moody's Corp                                                                    | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |      2053 | NS      | $978213.44    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                                  | Fox Corp                                                                        | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |       759 | NS      | $47862.54     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                    | US 5YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -68 | NC      | $12459.93     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                                 | Orange SA                                                                       | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |      2771 | NS      | $44953.47     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelon Corp                                               | Exelon Corp                                                                     | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      6047 | NS      | $272175.47    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Carvana Co                                                | Carvana Co                                                                      | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |        69 | NS      | $26029.56     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                                                   | ABB Ltd                                                                         | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     10701 | NS      | $771260.84    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| MOLEX ELECTRONICS TECH                                    | Molex Electronic Technologies LLC                                               | CUSIP: 60856BAF1<br>LEI: 549300WTBVUFUPSIWI20 | Long             | DBT              | CORP              | US        |    320000 | PA      | $325639.69    | 0.05%             | 2032-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nucor Corp                                                | Nucor Corp                                                                      | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |      1278 | NS      | $173079.54    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                                         | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |      2444 | NS      | $158033.74    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| UNUM GROUP                                                | Unum Group                                                                      | CUSIP: 91529YAP1<br>LEI: 549300E32YFDO6TZ8R31 | Long             | DBT              | CORP              | US        |    795000 | PA      | $648296.50    | 0.11%             | 2049-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| LINCOLN FIN GLBL FUNDING                                  | Lincoln Financial Global Funding                                                | CUSIP: 53359KAA9<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |    637000 | PA      | $659122.16    | 0.11%             | 2030-01-13      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| Societe Generale SA                                       | Societe Generale SA                                                             | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |      2820 | NS      | $187573.33    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV                                      | ASM International NV                                                            | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |        86 | NS      | $51695.63     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                                               | Hitachi Ltd                                                                     | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |     24600 | NS      | $645996.14    | 0.11%             |  |  |  | No            |                  2 | On Loan: —       |
| Aeon Co Ltd                                               | Aeon Co Ltd                                                                     | CUSIP: 000000000<br>LEI: 5299009MXFL34SA71416 | Long             | EC               | CORP              | JP        |      1300 | NS      | $15785.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Metro Inc/CN                                              | Metro Inc/CN                                                                    | CUSIP: 59162N109<br>LEI: 549300KQ7DCG4IXSNW78 | Long             | EC               | CORP              | CA        |      2203 | NS      | $147958.91    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                                               | Cintas Corp                                                                     | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4475 | NS      | $918538.50    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                             | Medtronic PLC                                                                   | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      6259 | NS      | $596107.16    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                  | Western Midstream Operating LP                                                  | CUSIP: 958667AG2<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1101471.80   | 0.18%             | 2034-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                                     | Truist Financial Corp                                                           | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      6063 | NS      | $277200.36    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY & CO                                            | Eli Lilly & Co                                                                  | CUSIP: 532457CG1<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $932614.79    | 0.15%             | 2053-02-27      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Next PLC                                                  | Next PLC                                                                        | CUSIP: 000000000<br>LEI: 213800WQD8ECPZP9PH98 | Long             | EC               | CORP              | GB        |       433 | NS      | $72127.38     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Corteva Inc                                               | Corteva Inc                                                                     | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      3753 | NS      | $253815.39    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank Of Nova Scotia, Toronto                          | The Bank Of Nova Scotia, Toronto                                                | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | RA               | CORP              | US        |  10000000 | PA      | $10000000.00  | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC                               | Reckitt Benckiser Group PLC                                                     | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |      1409 | NS      | $108818.09    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc                                | Advanced Micro Devices Inc                                                      | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     11621 | NS      | $1880161.59   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH                              | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |      4717 | NS      | $81462.59     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                                  | Northwestern Mutual Life Insurance Co/The                                       | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |    404000 | PA      | $434604.46    | 0.07%             | 2055-05-29      | Fixed         | 6.17%                 | No            |                  2 | On Loan: —       |
| PepsiCo Inc                                               | PepsiCo Inc                                                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      5020 | NS      | $705008.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| T&D Holdings Inc                                          | T&D Holdings Inc                                                                | CUSIP: 000000000<br>LEI: 3538008ARJ1MACEWA242 | Long             | EC               | CORP              | JP        |      3800 | NS      | $92869.42     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Instruments Inc                                     | Texas Instruments Inc                                                           | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      6417 | NS      | $1178995.41   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                                             | Frontdoor Inc                                                                   | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |       716 | NS      | $48179.64     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                                             | CME Group Inc                                                                   | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       592 | NS      | $159952.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc                                  | Super Micro Computer Inc                                                        | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      1010 | NS      | $48419.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Lifco AB                                                  | Lifco AB                                                                        | CUSIP: 000000000<br>LEI: 549300RTLL4VDQRCTW41 | Long             | EC               | CORP              | SE        |      1253 | NS      | $42600.33     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                                 | Thales SA                                                                       | CUSIP: 000000000<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |       171 | NS      | $53587.66     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vulcan Materials Co                                       | Vulcan Materials Co                                                             | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       490 | NS      | $150733.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORP                                             | Carnival Corp                                                                   | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    669000 | PA      | $659437.05    | 0.11%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| Tokyo Electron Ltd                                        | Tokyo Electron Ltd                                                              | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |      1100 | NS      | $198330.02    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PayPal Holdings Inc                                       | PayPal Holdings Inc                                                             | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      3426 | NS      | $229747.56    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                               | Oracle Corp                                                                     | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $703959.52    | 0.12%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Centene Corp                                              | Centene Corp                                                                    | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |      1568 | NS      | $55946.24     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                                     | Dell Technologies Inc                                                           | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      1143 | NS      | $162043.11    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                              | Alphabet Inc                                                                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     31135 | NS      | $7568918.50   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNIS FUNDING TRUST                                       | Omnis Funding Trust                                                             | CUSIP: 68218WAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1483140.90   | 0.24%             | 2055-05-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: —       |
| INTEL CORP                                                | Intel Corp                                                                      | CUSIP: 458140BJ8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $664488.61    | 0.11%             | 2049-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Meridian Energy Ltd                                       | Meridian Energy Ltd                                                             | CUSIP: 000000000<br>LEI: 254900IFKXIGNCY3A092 | Long             | EC               | CORP              | NZ        |      1296 | NS      | $4186.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TAPESTRY INC                                              | Tapestry Inc                                                                    | CUSIP: 876030AL1<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1261536.28   | 0.21%             | 2035-03-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Estee Lauder Cos Inc/The                                  | Estee Lauder Cos Inc/The                                                        | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |      4212 | NS      | $371161.44    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tele2 AB                                                  | Tele2 AB                                                                        | CUSIP: 000000000<br>LEI: 213800EKD193RVI9HL76 | Long             | EC               | CORP              | SE        |      2598 | NS      | $44321.05     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Coherent Corp                                             | Coherent Corp                                                                   | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |       418 | NS      | $45026.96     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                  | Virginia Electric and Power Co                                                  | CUSIP: 927804GV0<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1664000 | PA      | $1655293.74   | 0.27%             | 2035-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| Phillips 66                                               | Phillips 66                                                                     | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |       800 | NS      | $108816.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc                                  | Microchip Technology Inc                                                        | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |       932 | NS      | $59853.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                              | Prologis Inc                                                                    | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |      3738 | NS      | $428075.76    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                                        | Cenovus Energy Inc                                                              | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |      3269 | NS      | $55505.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co KGaA                                       | Henkel AG & Co KGaA                                                             | CUSIP: 000000000<br>LEI: 549300VZCL1HTH4O4Y49 | Long             | EP               | CORP              | DE        |       862 | NS      | $69577.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                  | Lloyds Banking Group PLC                                                        | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |    253782 | NS      | $285872.44    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong & China Gas Co Ltd                              | Hong Kong & China Gas Co Ltd                                                    | CUSIP: 000000000<br>LEI: 254900P7BETXGC7YU827 | Long             | EC               | CORP              | HK        |     52857 | NS      | $45946.37     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Visa Inc                                                  | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     10657 | NS      | $3638086.66   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co                             | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      3509 | NS      | $86181.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                                           | Southern Co/The                                                                 | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      4928 | NS      | $467026.56    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Celestica Inc                                             | Celestica Inc                                                                   | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |       791 | NS      | $194649.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                                              | Enbridge Inc                                                                    | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     11512 | NS      | $580769.94    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| AIRCASTLE LTD                                             | Aircastle Ltd                                                                   | CUSIP: 00928QAX9<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |   1773000 | PA      | $1863138.01   | 0.31%             | 2028-07-18      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| COMMONWEALTH EDISON CO                                    | Commonwealth Edison Co                                                          | CUSIP: 202795KB5<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    313000 | PA      | $332716.16    | 0.05%             | 2055-06-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| Roche Holding AG                                          | Roche Holding AG                                                                | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |      2092 | NS      | $688542.56    | 0.11%             |  |  |  | No            |                  2 | On Loan: —       |
| Woolworths Group Ltd                                      | Woolworths Group Ltd                                                            | CUSIP: 000000000<br>LEI: QNWEWQBS7HP85QHXQL92 | Long             | EC               | CORP              | AU        |      3953 | NS      | $69828.01     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Zoetis Inc                                                | Zoetis Inc                                                                      | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      1585 | NS      | $231917.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                                            | NRG Energy Inc                                                                  | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      1153 | NS      | $186728.35    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Canon Inc                                                 | Canon Inc                                                                       | CUSIP: 000000000<br>LEI: 529900JH1GSC035SSP77 | Long             | EC               | CORP              | JP        |      1500 | NS      | $43910.16     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Healthineers AG                                   | Siemens Healthineers AG                                                         | CUSIP: 000000000<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |       814 | NS      | $44036.96     | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Boston Scientific Corp                                    | Boston Scientific Corp                                                          | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     16219 | NS      | $1583460.97   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                                | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |       880 | NS      | $86680.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC                                | CONSTELLATION SOFTWARE INC                                                      | CUSIP: 000000000<br>LEI: 549300B6PYHMCTDWQV29 | N/A              | DE               |  | CA        |       208 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Futu Holdings Ltd                                         | Futu Holdings Ltd                                                               | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |       446 | NS      | $77563.86     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co                                 | Archer-Daniels-Midland Co                                                       | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      1677 | NS      | $100183.98    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Daimler Truck Holding AG                                  | Daimler Truck Holding AG                                                        | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |      1692 | NS      | $69718.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Daikin Industries Ltd                                     | Daikin Industries Ltd                                                           | CUSIP: 000000000<br>LEI: 549300Y7FWSTSHMW5Y57 | Long             | EC               | CORP              | JP        |       500 | NS      | $57526.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ResMed Inc                                                | ResMed Inc                                                                      | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |       914 | NS      | $250189.22    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Gold Miners ETF/USA                                | VanEck Gold Miners ETF/USA                                                      | CUSIP: 92189F106<br>LEI: 54930031TORTKAM9TJ98 | Long             | EC               | RF                | US        |     44648 | NS      | $3411107.20   | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| Elevance Health Inc                                       | Elevance Health Inc                                                             | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       853 | NS      | $275621.36    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                                               | Lennar Corp                                                                     | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |       876 | NS      | $110411.04    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Lam Research Corp                                         | Lam Research Corp                                                               | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      6583 | NS      | $881463.70    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                                           | Baker Hughes Co                                                                 | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4259 | NS      | $207498.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank Of Nova Scotia, Toronto                          | The Bank Of Nova Scotia, Toronto                                                | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | RA               | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| NTT Inc                                                   | NTT Inc                                                                         | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |    118700 | NS      | $124122.88    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NXP Semiconductors NV                                     | NXP Semiconductors NV                                                           | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |       936 | NS      | $213155.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                                       | Leidos Holdings Inc                                                             | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      1352 | NS      | $255473.92    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Essity AB                                                 | Essity AB                                                                       | CUSIP: 000000000<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |      1559 | NS      | $40772.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CBRE Group Inc                                            | CBRE Group Inc                                                                  | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      3239 | NS      | $510336.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sulzer AG                                                 | Sulzer AG                                                                       | CUSIP: 000000000<br>LEI: 529900NZ6MAST5IJF669 | Long             | EC               | CORP              | CH        |       434 | NS      | $73680.37     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group PLC                                              | 3i Group PLC                                                                    | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |      1083 | NS      | $59712.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Biogen Inc                                                | Biogen Inc                                                                      | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |       231 | NS      | $32358.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollarama Inc                                             | Dollarama Inc                                                                   | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |      2489 | NS      | $328253.97    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                                 | Block Inc                                                                       | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      1905 | NS      | $137674.35    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                         | Gaming and Leisure Properties Inc                                               | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |       939 | NS      | $43766.79     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| OMEGA HLTHCARE INVESTORS                                  | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BN9<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    339000 | PA      | $299101.72    | 0.05%             | 2033-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| Fiserv Inc                                                | Fiserv Inc                                                                      | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      2364 | NS      | $304790.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                      | Edison International                                                            | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      1042 | NS      | $57601.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                                   | Procter & Gamble Co/The                                                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     15478 | NS      | $2378194.70   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                     | Foundry JV Holdco LLC                                                           | CUSIP: 350930AG8<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    315000 | PA      | $332162.94    | 0.05%             | 2033-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                          | TotalEnergies SE                                                                | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      8199 | NS      | $500310.93    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| AT&T Inc                                                  | AT&T Inc                                                                        | CUSIP: 00206RHK1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $959344.77    | 0.16%             | 2039-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| BP CAPITAL MARKETS PLC                                    | BP Capital Markets PLC                                                          | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   1059000 | PA      | $1096860.31   | 0.18%             | 2035-03-18      | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| MasTec Inc                                                | MasTec Inc                                                                      | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |       433 | NS      | $92146.73     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                                          | Novo Nordisk A/S                                                                | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     10606 | NS      | $585405.74    | 0.10%             |  |  |  | No            |                  2 | On Loan: —       |
| Goodman Group                                             | Goodman Group                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |      2026 | NS      | $44111.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Corp                                         | State Street Corp                                                               | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |       930 | NS      | $107889.30    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                               | PURCHASED SEK / SOLD USD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | SE        |         1 | NC      | $-13476.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                         | NatWest Group PLC                                                               | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |     28756 | NS      | $201840.78    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                    | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | XX        |         1 | NC      | $-29153.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Delivery Hero SE                                          | Delivery Hero SE                                                                | CUSIP: 000000000<br>LEI: 529900C3EX1FZGE48X78 | Long             | EC               | CORP              | DE        |      1027 | NS      | $29504.53     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Deutsche Bank Securities Inc.                             | Deutsche Bank Securities Inc.                                                   | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Long             | RA               | CORP              | US        |   5680938 | PA      | $5680938.44   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| HIGH STREET FD TRUST III                                  | High Street Funding Trust III                                                   | CUSIP: 42981FAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    353000 | PA      | $352802.66    | 0.06%             | 2055-02-15      | Fixed         | 5.81%                 | No            |                  2 | On Loan: —       |
| Lowe's Cos Inc                                            | Lowe's Cos Inc                                                                  | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      1512 | NS      | $379980.72    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                    | Diamondback Energy Inc                                                          | CUSIP: 25278XBC2<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026596.28   | 0.17%             | 2035-04-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: —       |
| Old Dominion Freight Line Inc                             | Old Dominion Freight Line Inc                                                   | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |       576 | NS      | $81089.28     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd                                     | Daiichi Sankyo Co Ltd                                                           | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |      2800 | NS      | $62670.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| United Therapeutics Corp                                  | United Therapeutics Corp                                                        | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |        80 | NS      | $33536.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                                                | Fiserv Inc                                                                      | CUSIP: 337738BQ0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    502000 | PA      | $507341.07    | 0.08%             | 2035-08-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| M&T BANK CORPORATION                                      | M&T Bank Corp                                                                   | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    673000 | PA      | $674720.70    | 0.11%             | 2034-01-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: —       |
| National Bank Of Canada                                   | National Bank Of Canada                                                         | CUSIP: 000000000<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | RA               | CORP              | US        |   3000000 | PA      | $3000000.00   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                                                  | RELX PLC                                                                        | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |      8147 | NS      | $389118.66    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Philips NV                                    | Koninklijke Philips NV                                                          | CUSIP: 000000000<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |      2434 | NS      | $66632.06     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Armstrong World Industries Inc                            | Armstrong World Industries Inc                                                  | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |       752 | NS      | $147399.52    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Oriental Land Co Ltd/Japan                                | Oriental Land Co Ltd/Japan                                                      | CUSIP: 000000000<br>LEI: 353800PIFKBZ6KTU5994 | Long             | EC               | CORP              | JP        |      3900 | NS      | $93741.66     | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| LY Corp                                                   | LY Corp                                                                         | CUSIP: 000000000<br>LEI: 52990078MD2OL792YM35 | Long             | EC               | CORP              | JP        |     14300 | NS      | $46115.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cummins Inc                                               | Cummins Inc                                                                     | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |       449 | NS      | $189644.13    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                               | Workday Inc                                                                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |       398 | NS      | $95810.54     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius AG                                              | Sartorius AG                                                                    | CUSIP: 000000000<br>LEI: 529900EQV2DY4FOAMU38 | Long             | EP               | CORP              | DE        |       172 | NS      | $40004.16     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd                               | Royal Caribbean Cruises Ltd                                                     | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |      1366 | NS      | $442010.28    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kao Corp                                                  | Kao Corp                                                                        | CUSIP: 000000000<br>LEI: 353800HM38HFCB8RGL63 | Long             | EC               | CORP              | JP        |      1700 | NS      | $74092.06     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CDW Corp/DE                                               | CDW Corp/DE                                                                     | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       579 | NS      | $92223.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                     | Wells Fargo & Co                                                                | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1069511.58   | 0.18%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp                                     | Norfolk Southern Corp                                                           | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       468 | NS      | $140591.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujikura Ltd                                              | Fujikura Ltd                                                                    | CUSIP: 000000000<br>LEI: 353800PSDZ8VRCKVPL51 | Long             | EC               | CORP              | JP        |      3800 | NS      | $369446.69    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp                                            | Microsoft Corp                                                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     34205 | NS      | $17716479.75  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                                         | Suncor Energy Inc                                                               | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |      3508 | NS      | $146803.13    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                    | Roper Technologies Inc                                                          | CUSIP: 776696AM8<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    979000 | PA      | $986900.32    | 0.16%             | 2035-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: —       |
| INGERSOLL RAND INC                                        | Ingersoll Rand Inc                                                              | CUSIP: 45687VAF3<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1042635.80   | 0.17%             | 2034-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Nomura Holdings Inc                                       | Nomura Holdings Inc                                                             | CUSIP: 000000000<br>LEI: 549300B3CEAHYG7K8164 | Long             | EC               | CORP              | JP        |     15100 | NS      | $110572.45    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                                  | Enel SpA                                                                        | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     15574 | NS      | $147710.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Align Technology Inc                                      | Align Technology Inc                                                            | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |       166 | NS      | $20786.52     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA                             | Industria de Diseno Textil SA                                                   | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |      4584 | NS      | $253248.52    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Becton Dickinson & Co                                     | Becton Dickinson & Co                                                           | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       669 | NS      | $125216.73    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| STMicroelectronics NV                                     | STMicroelectronics NV                                                           | CUSIP: 000000000<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | NL        |      1646 | NS      | $46528.05     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vertiv Holdings Co                                        | Vertiv Holdings Co                                                              | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      5629 | NS      | $849190.94    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                                       | American Tower Corp                                                             | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |      1053 | NS      | $202512.96    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kering SA                                                 | Kering SA                                                                       | CUSIP: 000000000<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |       163 | NS      | $54319.16     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution AB                                              | Evolution AB                                                                    | CUSIP: 000000000<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |       551 | NS      | $45223.15     | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dollar Tree Inc                                           | Dollar Tree Inc                                                                 | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |       366 | NS      | $34539.42     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Packaging Corp of America                                 | Packaging Corp of America                                                       | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |       368 | NS      | $80198.24     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA INC                                                   | HCA Inc                                                                         | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1007414.00   | 0.17%             | 2052-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| IQVIA Holdings Inc                                        | IQVIA Holdings Inc                                                              | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |       496 | NS      | $94210.24     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                                         | Veeva Systems Inc                                                               | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      2110 | NS      | $628590.10    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Accor SA                                                  | Accor SA                                                                        | CUSIP: 000000000<br>LEI: 969500QZC2Q0TK11NV07 | Long             | EC               | CORP              | FR        |       893 | NS      | $42305.82     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED NY                                     | STANDARD CHARTERED NY                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000174 | PA      | $1000174.00   | 0.17%             | 2026-02-06      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                                       | Axon Enterprise Inc                                                             | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       368 | NS      | $264091.52    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                             | Intercontinental Exchange Inc                                                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      3250 | NS      | $547560.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                                     | Applied Materials Inc                                                           | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2817 | NS      | $576752.58    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                                 | Occidental Petroleum Corp                                                       | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      1154 | NS      | $54526.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The                                        | Trade Desk Inc/The                                                              | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |      2546 | NS      | $124779.46    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dai-ichi Life Holdings Inc                                | Dai-ichi Life Holdings Inc                                                      | CUSIP: 000000000<br>LEI: 549300ZUFXI7JXZVTZ25 | Long             | EC               | CORP              | JP        |     17600 | NS      | $138456.72    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Aptiv PLC                                                 | Aptiv PLC                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |       796 | NS      | $68631.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | XX        |         1 | NC      | $-102186.41   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Rockwell Automation Inc                                   | Rockwell Automation Inc                                                         | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |       427 | NS      | $149249.31    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc                                  | Ferguson Enterprises Inc                                                        | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |       541 | NS      | $121896.54    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                      | Bank of America Corp                                                            | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1649000 | PA      | $1565107.90   | 0.26%             | 2030-10-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: —       |
| LLOYDS BANKING GROUP PLC                                  | Lloyds Banking Group PLC                                                        | CUSIP: 53944YBA0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2413000 | PA      | $2523659.46   | 0.42%             | 2030-06-05      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Orion Oyj                                                 | Orion Oyj                                                                       | CUSIP: 000000000<br>LEI: 74370029VAHCXDR7B745 | Long             | EC               | CORP              | FI        |      3907 | NS      | $299269.63    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Energy Corp                                 | Constellation Energy Corp                                                       | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      1167 | NS      | $384024.69    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kellanova                                                 | Kellanova                                                                       | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |       805 | NS      | $66026.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                           | Gold Fields Ltd                                                                 | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      3137 | NS      | $131628.52    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUST FIBRAUNO                                            | Trust Fibra Uno                                                                 | CUSIP: 89834JAB9<br>LEI: N/A                  | Long             | DBT              |  | MX        |    518000 | PA      | $559537.90    | 0.09%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                        | Credit Agricole SA                                                              | CUSIP: 22535WAS6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1258000 | PA      | $1250268.17   | 0.21%             | 2033-09-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: —       |
| PROLOGIS LP                                               | Prologis LP                                                                     | CUSIP: 74340XBZ3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |   1000000 | PA      | $894062.51    | 0.15%             | 2030-07-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| ENI SPA                                                   | Eni SpA                                                                         | CUSIP: 26874RAQ1<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    432000 | PA      | $449979.79    | 0.07%             | 2035-05-19      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Stryker Corp                                              | Stryker Corp                                                                    | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      3064 | NS      | $1132668.88   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tryg A/S                                                  | Tryg A/S                                                                        | CUSIP: 000000000<br>LEI: 213800ZRS8AC4LSTCE39 | Long             | EC               | CORP              | DK        |      1704 | NS      | $43302.32     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                                            | Rheinmetall AG                                                                  | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |        83 | NS      | $193212.39    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Trane Technologies PLC                                    | Trane Technologies PLC                                                          | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      1145 | NS      | $483144.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                                              | Newmont Corp                                                                    | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      3377 | NS      | $284714.87    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PRICOA GLOBAL FUNDING 1                                   | Pricoa Global Funding I                                                         | CUSIP: 74153WCY3<br>LEI: 635400IBXEBMD9ADYA79 | Long             | DBT              | CORP              | US        |   1119000 | PA      | $1130274.25   | 0.19%             | 2032-08-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Adyen NV                                                  | Adyen NV                                                                        | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |        82 | NS      | $131597.70    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                    | PURCHASED CHF / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | CH        |         1 | NC      | $377.30       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Willis Towers Watson PLC                                  | Willis Towers Watson PLC                                                        | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |       326 | NS      | $112616.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| NVIDIA Corp                                               | NVIDIA Corp                                                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    114335 | NS      | $21332624.30  | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ebara Corp                                                | Ebara Corp                                                                      | CUSIP: 000000000<br>LEI: 353800UV8U3SOMCDTI49 | Long             | EC               | CORP              | JP        |      7800 | NS      | $177826.65    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| LINCOLN FIN GLBL FUNDING                                  | Lincoln Financial Global Funding                                                | CUSIP: 53359KAB7<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |    572000 | PA      | $577874.78    | 0.10%             | 2028-05-28      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FLOWERS FOODS INC                                         | Flowers Foods Inc                                                               | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |    987000 | PA      | $1005311.79   | 0.17%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| CVS HEALTH CORP                                           | CVS Health Corp                                                                 | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    139000 | PA      | $142217.28    | 0.02%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Chevron Corp                                              | Chevron Corp                                                                    | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7268 | NS      | $1128647.72   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc                                       | Williams-Sonoma Inc                                                             | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |       227 | NS      | $44367.15     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International plc                        | Johnson Controls International plc                                              | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |       784 | NS      | $86200.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                                 | Adobe Inc                                                                       | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2418 | NS      | $852949.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                   | KeyCorp                                                                         | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |      3249 | NS      | $60723.81     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Energy Group Ltd                                 | Woodside Energy Group Ltd                                                       | CUSIP: 000000000<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |      6195 | NS      | $93053.22     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                  | Prudential Financial Inc                                                        | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   1827000 | PA      | $1833617.39   | 0.30%             | 2052-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| Take-Two Interactive Software Inc                         | Take-Two Interactive Software Inc                                               | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |       487 | NS      | $125821.32    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                                    | AXA SA                                                                          | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |      9956 | NS      | $476702.17    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Holdings Inc                                          | SBI Holdings Inc                                                                | CUSIP: 000000000<br>LEI: 353800L6LMHYIPSMRQ17 | Long             | EC               | CORP              | JP        |      1600 | NS      | $69464.53     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Waste Management Inc                                      | Waste Management Inc                                                            | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      2420 | NS      | $534408.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                                   | GSK PLC                                                                         | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     17152 | NS      | $368773.76    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corp                                              | Entergy Corp                                                                    | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |       500 | NS      | $46595.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E ENERGY RECOVERY FND                                  | PG&E Energy Recovery Funding LLC                                                | CUSIP: 71710TAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1624000 | PA      | $1321259.12   | 0.22%             | 2036-01-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                           | Danske Bank A/S                                                                 | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |      2467 | NS      | $105418.66    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co Ltd       | HD Korea Shipbuilding & Offshore Engineering Co Ltd                             | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |       137 | NS      | $40301.69     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS                                    | Repsol E&P Capital Markets US LLC                                               | CUSIP: 76026AAB3<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    563000 | PA      | $567075.44    | 0.09%             | 2030-09-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                              | Alphabet Inc                                                                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     25790 | NS      | $6281154.50   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS FUNDING BV                                        | Siemens Funding BV                                                              | CUSIP: 82622RAC0<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $305397.73    | 0.05%             | 2030-05-28      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Cigna Group/The                                           | Cigna Group/The                                                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1170 | NS      | $337252.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REPSOL E&P CAP MARKETS                                    | Repsol E&P Capital Markets US LLC                                               | CUSIP: 76026AAC1<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    558000 | PA      | $568149.47    | 0.09%             | 2035-09-16      | Fixed         | 5.98%                 | No            |                  2 | On Loan: —       |
| EQT AB                                                    | EQT AB                                                                          | CUSIP: 29439EAA7<br>LEI: 213800U7P9GOIRKCTB34 | Long             | DBT              | CORP              | SE        |    946000 | PA      | $976820.93    | 0.16%             | 2035-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                               | Cie Financiere Richemont SA                                                     | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |      1082 | NS      | $207612.95    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| M&T Bank Corp                                             | M&T Bank Corp                                                                   | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |       517 | NS      | $102169.54    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED JPY / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | JP        |         1 | NC      | $-7841.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sempra                                                    | Sempra                                                                          | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      3207 | NS      | $288565.86    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Mitsui Mining & Smelting Co Ltd                           | Mitsui Mining & Smelting Co Ltd                                                 | CUSIP: 000000000<br>LEI: 35380021EYAHSQM25559 | Long             | EC               | CORP              | JP        |      1600 | NS      | $124050.39    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc                                   | O'Reilly Automotive Inc                                                         | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     10204 | NS      | $1100093.24   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                                          | W R Berkley Corp                                                                | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |       631 | NS      | $48347.22     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Great-West Lifeco Inc                                     | Great-West Lifeco Inc                                                           | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |      2119 | NS      | $85996.35     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                           | CVS Health Corp                                                                 | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      4606 | NS      | $347246.34    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DNB NOR BANK ASA NEW YORK                                 | DNB NOR BANK ASA NEW YORK                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.33%             | 2025-10-01      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| IHI Corp                                                  | IHI Corp                                                                        | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |      3500 | NS      | $65099.07     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Crown Castle Inc                                          | Crown Castle Inc                                                                | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |       744 | NS      | $71788.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc                                     | DuPont de Nemours Inc                                                           | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      1177 | NS      | $91688.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| adidas AG                                                 | adidas AG                                                                       | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |       333 | NS      | $70236.84     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                               | PURCHASED BRL / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |         1 | NC      | $-27721.35    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EMCOR Group Inc                                           | EMCOR Group Inc                                                                 | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       289 | NS      | $187717.06    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                              | Illumina Inc                                                                    | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |       488 | NS      | $46345.36     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| COTERRA ENERGY INC                                        | Coterra Energy Inc                                                              | CUSIP: 127097AM5<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |   1608000 | PA      | $1620834.17   | 0.27%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The                                        | Walt Disney Co/The                                                              | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     10388 | NS      | $1189426.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Telstra Group Ltd                                         | Telstra Group Ltd                                                               | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |     71624 | NS      | $228594.96    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                              | DNB Bank ASA                                                                    | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |      1800 | NS      | $49155.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                                                 | Linde PLC                                                                       | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      1969 | NS      | $935275.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| STELLANTIS FIN US INC                                     | Stellantis Finance US Inc                                                       | CUSIP: 85855CAL4<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1101947.54   | 0.18%             | 2035-03-18      | Fixed         | 6.45%                 | No            |                  2 | On Loan: —       |
| Santos Ltd                                                | Santos Ltd                                                                      | CUSIP: 000000000<br>LEI: 5299000RK70B5O2M7077 | Long             | EC               | CORP              | AU        |      8655 | NS      | $38762.72     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Garmin Ltd                                                | Garmin Ltd                                                                      | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |       791 | NS      | $194760.02    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp                                               | Subaru Corp                                                                     | CUSIP: 000000000<br>LEI: 549300N244BVAEE6HH86 | Long             | EC               | CORP              | JP        |      2300 | NS      | $47137.27     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Services Inc                                       | Quanta Services Inc                                                             | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |       659 | NS      | $273102.78    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                                               | Target Corp                                                                     | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |       869 | NS      | $77949.30     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS LP                                        | Regency Centers LP                                                              | CUSIP: 75884RBC6<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |   1511000 | PA      | $1530144.51   | 0.25%             | 2035-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Gartner Inc                                               | Gartner Inc                                                                     | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |       290 | NS      | $76232.30     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Marsh & McLennan Cos Inc                                  | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      1733 | NS      | $349251.49    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC                                     | Republic Services Inc                                                           | CUSIP: 760759BM1<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    546000 | PA      | $563763.29    | 0.09%             | 2035-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| Walmart Inc                                               | Walmart Inc                                                                     | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     15766 | NS      | $1624843.96   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui & Co Ltd                                           | Mitsui & Co Ltd                                                                 | CUSIP: 000000000<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |     13600 | NS      | $337717.82    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                                                | Symrise AG                                                                      | CUSIP: 000000000<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |       468 | NS      | $40783.77     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SCSK Corp                                                 | SCSK Corp                                                                       | CUSIP: 000000000<br>LEI: 529900SNGFXMSUBB7864 | Long             | EC               | CORP              | JP        |      1400 | NS      | $41958.21     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group PLC                                         | Compass Group PLC                                                               | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |      2891 | NS      | $98495.06     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Astellas Pharma Inc                                       | Astellas Pharma Inc                                                             | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |      9300 | NS      | $101426.99    | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| FORD MOTOR CREDIT CO LLC                                  | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186562.22    | 0.03%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                                          | Coca-Cola Co/The                                                                | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     27767 | NS      | $1841507.44   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                              | Fortinet Inc                                                                    | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      2542 | NS      | $213731.36    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                            | Morgan Stanley                                                                  | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4454853.03   | 0.74%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                   | Royal Caribbean Cruises Ltd                                                     | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1168000 | PA      | $1174811.44   | 0.19%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                   | Pfizer Investment Enterprises Pte Ltd                                           | CUSIP: 716973AG7<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   2000000 | PA      | $1932773.20   | 0.32%             | 2053-05-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| Shopify Inc                                               | Shopify Inc                                                                     | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      4267 | NS      | $633933.27    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                                               | MongoDB Inc                                                                     | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |        69 | NS      | $21416.22     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                                            | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      5642 | NS      | $831563.58    | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Public Storage                                            | Public Storage                                                                  | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               |  | US        |       401 | NS      | $115828.85    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                             | Citigroup Inc                                                                   | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    989000 | PA      | $999036.23    | 0.17%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd                              | Techtronic Industries Co Ltd                                                    | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |      5000 | NS      | $64146.52     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                    | PURCHASED NZD / SOLD AUD                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | NZ        |         1 | NC      | $-79344.26    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Central Japan Railway Co                                  | Central Japan Railway Co                                                        | CUSIP: 000000000<br>LEI: 353800YAR3OVUITHTG64 | Long             | EC               | CORP              | JP        |      1800 | NS      | $51673.98     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                | Airbnb Inc                                                                      | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |       651 | NS      | $79044.42     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanrio Co Ltd                                             | Sanrio Co Ltd                                                                   | CUSIP: 000000000<br>LEI: 3538002Q5JQLOMSPH125 | Long             | EC               | CORP              | JP        |      2800 | NS      | $131130.19    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                                          | Exxon Mobil Corp                                                                | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     14824 | NS      | $1671406.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellnex Telecom SA                                        | Cellnex Telecom SA                                                              | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |      1327 | NS      | $46010.51     | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Corning Inc                                               | Corning Inc                                                                     | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      5368 | NS      | $440337.04    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui Chemical Co Ltd                                   | Sekisui Chemical Co Ltd                                                         | CUSIP: 000000000<br>LEI: 529900KQIVT7NWFNMI70 | Long             | EC               | CORP              | JP        |      2000 | NS      | $37190.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                                            | Air Liquide SA                                                                  | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |      2399 | NS      | $499259.38    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                                 | Nestle SA                                                                       | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |      8331 | NS      | $765270.51    | 0.13%             |  |  |  | No            |                  2 | On Loan: —       |
| Axis Capital Holdings Ltd                                 | Axis Capital Holdings Ltd                                                       | CUSIP: 000000000<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |       701 | NS      | $67155.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E ENERGY RECOVERY FND                                  | PG&E Energy Recovery Funding LLC                                                | CUSIP: 71710TAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2151000 | PA      | $1535341.27   | 0.25%             | 2046-07-15      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp                                           | CMS Energy Corp                                                                 | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |       621 | NS      | $45494.46     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                                               | Nutanix Inc                                                                     | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      3438 | NS      | $255752.82    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                                    | MSCI EMGMKT DEC25                                                               | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |        55 | NC      | $78807.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC                                     | Republic Services Inc                                                           | CUSIP: 760759BH2<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516677.65    | 0.09%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Galaxy Entertainment Group Ltd                            | Galaxy Entertainment Group Ltd                                                  | CUSIP: 000000000<br>LEI: 549300ZSEBV3HR826S10 | Long             | EC               | CORP              | HK        |      9000 | NS      | $49655.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BEACON FUNDING TRUST                                      | Beacon Funding Trust                                                            | CUSIP: 073952AB9<br>LEI: 984500A80A2EBF5A7C93 | Long             | DBT              | CORP              | US        |   2235000 | PA      | $2287138.57   | 0.38%             | 2054-08-15      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Keyence Corp                                              | Keyence Corp                                                                    | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |       800 | NS      | $297865.21    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                          | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |      3791 | NS      | $133334.89    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd                                    | Agnico Eagle Mines Ltd                                                          | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      2141 | NS      | $360602.43    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                                        | Steel Dynamics Inc                                                              | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      2949 | NS      | $411179.07    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kesko Oyj                                                 | Kesko Oyj                                                                       | CUSIP: 000000000<br>LEI: 743700OX6HSVMCAHPB95 | Long             | EC               | CORP              | FI        |      1468 | NS      | $31249.31     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer NV                                         | Wolters Kluwer NV                                                               | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |       346 | NS      | $47231.65     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                    | US LONG BOND(CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       116 | NC      | $211656.56    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                                 | Palantir Technologies Inc                                                       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      7930 | NS      | $1446590.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WiseTech Global Ltd                                       | WiseTech Global Ltd                                                             | CUSIP: 000000000<br>LEI: 254900VE3AF301Q85K83 | Long             | EC               | CORP              | AU        |       596 | NS      | $35642.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                    | General Motors Financial Co Inc                                                 | CUSIP: 37045XFA9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    619000 | PA      | $622684.42    | 0.10%             | 2034-09-06      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| Waste Connections Inc                                     | Waste Connections Inc                                                           | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      1269 | NS      | $223089.42    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                                       | SPI 200 FUTURES DEC25                                                           | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DE               |  | AU        |        19 | NC      | $-3486.30     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                                    | Marvell Technology Inc                                                          | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3217 | NS      | $270453.19    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Osaka Exchange                                            | NIKKEI 225 (OSE) DEC25                                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |        18 | NC      | $193405.54    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison Inc                                   | Consolidated Edison Inc                                                         | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      2243 | NS      | $225466.36    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| LCH Ltd.                                                  | SWP: OIS 3.740000 24-JUL-2035 SOF                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        | 165000000 | OU      | $1955156.92   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK NA                                               | Citibank NA                                                                     | CUSIP: 17325FBG2<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   3470000 | PA      | $3677473.14   | 0.61%             | 2034-04-30      | Fixed         | 5.57%                 | No            |                  2 | On Loan: —       |
| CITIGROUP INC                                             | Citigroup Inc                                                                   | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    496000 | PA      | $511156.27    | 0.08%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CIBC NY                                                   | CIBC NY                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1301008 | PA      | $1301007.50   | 0.21%             | 2026-08-11      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Rambus Inc                                                | Rambus Inc                                                                      | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |       724 | NS      | $75440.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Murata Manufacturing Co Ltd                               | Murata Manufacturing Co Ltd                                                     | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |      4500 | NS      | $85398.32     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Martin Marietta Materials Inc                             | Martin Marietta Materials Inc                                                   | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |        73 | NS      | $46010.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                                   | ATI Inc                                                                         | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |      2275 | NS      | $185048.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Assa Abloy AB                                             | Assa Abloy AB                                                                   | CUSIP: 000000000<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |      4495 | NS      | $157716.93    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| London Stock Exchange Group PLC                           | London Stock Exchange Group PLC                                                 | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |      1662 | NS      | $190850.88    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CoStar Group Inc                                          | CoStar Group Inc                                                                | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      1351 | NS      | $113983.87    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON & CO                                     | Becton Dickinson & Co                                                           | CUSIP: 075887BX6<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    640000 | PA      | $565496.06    | 0.09%             | 2047-06-06      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                       | General Electric Co                                                             | CUSIP: 369604BZ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    434000 | PA      | $436578.12    | 0.07%             | 2030-07-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                  | AT&T Inc                                                                        | CUSIP: 00206RJZ6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2658000 | PA      | $2124744.17   | 0.35%             | 2041-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| TJX Cos Inc/The                                           | TJX Cos Inc/The                                                                 | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      7518 | NS      | $1086651.72   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                                  | Engie SA                                                                        | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |      6522 | NS      | $139900.65    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BPCE SA                                                   | BPCE SA                                                                         | CUSIP: 056121AA4<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    571000 | PA      | $585814.21    | 0.10%             | 2031-05-28      | Fixed         | 5.39%                 | No            |                  2 | On Loan: —       |
| Incyte Corp                                               | Incyte Corp                                                                     | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |       706 | NS      | $59875.86     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX CORP                                                  | RTX Corp                                                                        | CUSIP: 75513ECM1<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $870078.00    | 0.14%             | 2031-09-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: —       |
| Texas Pacific Land Corp                                   | Texas Pacific Land Corp                                                         | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        32 | NS      | $29876.48     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sage Group PLC/The                                        | Sage Group PLC/The                                                              | CUSIP: 000000000<br>LEI: 2138005RN5XYLTF8G138 | Long             | EC               | CORP              | GB        |      3057 | NS      | $45388.97     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                                                 | Repsol SA                                                                       | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |     11554 | NS      | $205062.90    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Monster Beverage Corp                                     | Monster Beverage Corp                                                           | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      8496 | NS      | $571865.76    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Wartsila OYJ Abp                                          | Wartsila OYJ Abp                                                                | CUSIP: 000000000<br>LEI: 743700G7A9J1PHM3X223 | Long             | EC               | CORP              | FI        |      1566 | NS      | $46896.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Resona Holdings Inc                                       | Resona Holdings Inc                                                             | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |      7000 | NS      | $71259.75     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                      | Bank of America Corp                                                            | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1097000 | PA      | $1078997.24   | 0.18%             | 2027-01-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc                                    | Berkshire Hathaway Inc                                                          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      6351 | NS      | $3192901.74   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc                                     | ESCO Technologies Inc                                                           | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       368 | NS      | $77688.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                                      | Bank of America Corp                                                            | CUSIP: 06051GKK4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4836000 | PA      | $4403838.65   | 0.73%             | 2033-02-04      | Fixed         | 2.97%                 | No            |                  2 | On Loan: —       |
| Texas Roadhouse Inc                                       | Texas Roadhouse Inc                                                             | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      1932 | NS      | $321001.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                                          | Markel Group Inc                                                                | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |        48 | NS      | $91745.28     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Group                         | Tencent Music Entertainment Group                                               | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | KY        |      3462 | NS      | $80803.08     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems A/S                                   | Vestas Wind Systems A/S                                                         | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |      3305 | NS      | $64142.61     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DoorDash Inc                                              | DoorDash Inc                                                                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |       371 | NS      | $100908.29    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV A/S                                                   | DSV A/S                                                                         | CUSIP: 000000000<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |       609 | NS      | $121581.41    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hannover Rueck SE                                         | Hannover Rueck SE                                                               | CUSIP: 000000000<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |       481 | NS      | $145066.87    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                       | Intesa Sanpaolo SpA                                                             | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |     71215 | NS      | $470952.91    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co Ltd                                   | Recruit Holdings Co Ltd                                                         | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |      6800 | NS      | $364847.84    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                                            | Atlas Copco AB                                                                  | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |     15014 | NS      | $255660.81    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| TRANE TECH FIN LTD                                        | Trane Technologies Financing Ltd                                                | CUSIP: 892938AA9<br>LEI: 549300A5OEF3CJI2CO89 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1040516.35   | 0.17%             | 2033-03-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | Truist Financial Corp                                                           | CUSIP: 89788MAS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    640000 | PA      | $671597.45    | 0.11%             | 2035-01-24      | Fixed         | 5.71%                 | No            |                  2 | On Loan: —       |
| Sabra Health Care REIT Inc                                | Sabra Health Care REIT Inc                                                      | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |      8173 | NS      | $152344.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| STANDARD CHARTERED PLC                                    | Standard Chartered PLC                                                          | CUSIP: 85325C2J0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    805000 | PA      | $816824.52    | 0.13%             | 2036-08-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| East Japan Railway Co                                     | East Japan Railway Co                                                           | CUSIP: 000000000<br>LEI: 353800SENYJ2DSM6PS44 | Long             | EC               | CORP              | JP        |      1900 | NS      | $46558.69     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                            | Morgan Stanley                                                                  | CUSIP: 6174468U6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    949000 | PA      | $827697.15    | 0.14%             | 2032-02-13      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                    | PURCHASED GBP / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | GB        |         1 | NC      | $-14228.27    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TransDigm Group Inc                                       | TransDigm Group Inc                                                             | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       488 | NS      | $643193.76    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                               | Netflix Inc                                                                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2759 | NS      | $3307820.28   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                                 | Fresenius Medical Care AG                                                       | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |       881 | NS      | $46227.56     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cadence Design Systems Inc                                | Cadence Design Systems Inc                                                      | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      2031 | NS      | $713409.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TD Prime Services LLC                                     | TD Prime Services LLC                                                           | CUSIP: 000000000<br>LEI: 549300ZBQI1JB1844X09 | Long             | RA               | CORP              | US        |   1900000 | PA      | $1900000.00   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                           | AstraZeneca PLC                                                                 | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      5628 | NS      | $859695.53    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Kimco Realty Corp                                         | Kimco Realty Corp                                                               | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               |  | US        |      7938 | NS      | $173445.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV                                        | Koninklijke KPN NV                                                              | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |     98535 | NS      | $473114.04    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena SME SA                                               | Aena SME SA                                                                     | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |      6474 | NS      | $177380.62    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XCT0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    839000 | PA      | $819351.94    | 0.14%             | 2034-09-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: —       |
| ORIX Corp                                                 | ORIX Corp                                                                       | CUSIP: 000000000<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |      1800 | NS      | $47004.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                                  | Principal Life Global Funding II                                                | CUSIP: 74256LFB0<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |    605000 | PA      | $617905.59    | 0.10%             | 2029-11-27      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| Intuitive Surgical Inc                                    | Intuitive Surgical Inc                                                          | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      1841 | NS      | $823350.43    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    759000 | PA      | $759912.67    | 0.13%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FANUC Corp                                                | FANUC Corp                                                                      | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |      2500 | NS      | $71237.38     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Hims & Hers Health Inc                                    | Hims & Hers Health Inc                                                          | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |      1405 | NS      | $79691.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    428000 | PA      | $426683.39    | 0.07%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                       | JPMorgan Chase & Co                                                             | CUSIP: 46647PBX3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $1838652.61   | 0.30%             | 2032-02-04      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Rocket Lab Corp                                           | Rocket Lab Corp                                                                 | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       931 | NS      | $44604.21     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Sika AG                                                   | Sika AG                                                                         | CUSIP: 000000000<br>LEI: 549300R3N69ECGYPU434 | Long             | EC               | CORP              | CH        |       340 | NS      | $76196.56     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ecolab Inc                                                | Ecolab Inc                                                                      | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2986 | NS      | $817745.96    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                            | Mastercard Inc                                                                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      3813 | NS      | $2168872.53   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                              | Barclays PLC                                                                    | CUSIP: 06738ECV5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    887000 | PA      | $899805.41    | 0.15%             | 2035-09-10      | Fixed         | 5.33%                 | No            |                  2 | On Loan: —       |
| Republic Services Inc                                     | Republic Services Inc                                                           | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      1748 | NS      | $401131.04    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                  | AT&T Inc                                                                        | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     30422 | NS      | $859117.28    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Pernod Ricard SA                                          | Pernod Ricard SA                                                                | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |       864 | NS      | $84953.05     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cargurus Inc                                              | Cargurus Inc                                                                    | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |      1189 | NS      | $44266.47     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                                 | Shin-Etsu Chemical Co Ltd                                                       | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |      5700 | NS      | $186519.08    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Popular Inc                                               | Popular Inc                                                                     | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |       411 | NS      | $52201.11     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kongsberg Gruppen ASA                                     | Kongsberg Gruppen ASA                                                           | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ9HK73 | Long             | EC               | CORP              | NO        |      2364 | NS      | $75528.07     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                        | Ally Financial Inc                                                              | CUSIP: 02005NCA6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    813000 | PA      | $816010.82    | 0.13%             | 2033-07-31      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                              | Broadcom Inc                                                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     23212 | NS      | $7657870.92   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                                 | Amgen Inc                                                                       | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      1766 | NS      | $498365.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Westpac Banking Corp                                      | Westpac Banking Corp                                                            | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |      8704 | NS      | $223935.74    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp                                      | Bank of America Corp                                                            | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     25598 | NS      | $1320600.82   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                                   | SSE PLC                                                                         | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |      1862 | NS      | $43635.76     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                                         | Toyota Motor Corp                                                               | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |     30400 | NS      | $581784.65    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| HEICO Corp                                                | HEICO Corp                                                                      | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       782 | NS      | $252445.24    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SoFi Technologies Inc                                     | SoFi Technologies Inc                                                           | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Long             | EC               | CORP              | US        |      1749 | NS      | $46208.58     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Elevator Service Holdings Co Ltd                    | Japan Elevator Service Holdings Co Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10000 | NS      | $126838.04    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                    | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822DK7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    284000 | PA      | $292636.96    | 0.05%             | 2031-04-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: —       |
| INVESCO GOVT AND AGCY LEX                                 | INVESCO GOVT AND AGCY LEX                                                       | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1000000 | NS      | $1000000.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                                                  | Snap Inc                                                                        | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |      3562 | NS      | $27463.02     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Volkswagen AG                                             | Volkswagen AG                                                                   | CUSIP: 000000000<br>LEI: 529900NNUPAGGOMPXZ31 | Long             | EP               | CORP              | DE        |       379 | NS      | $40991.10     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis NV                                             | Stellantis NV                                                                   | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | EC               | CORP              | NL        |      5340 | NS      | $49428.07     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Building Fund Inc                                  | Nippon Building Fund Inc                                                        | CUSIP: 000000000<br>LEI: 52990053R8NL2MB32172 | Long             | EC               |  | JP        |        42 | NS      | $39629.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Tesla Inc                                                 | Tesla Inc                                                                       | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      9662 | NS      | $4296884.64   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                                | US Bancorp                                                                      | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     15475 | NS      | $747906.75    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Novonesis Novozymes B                                     | Novonesis Novozymes B                                                           | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |      1304 | NS      | $79929.57     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Inpex Corp                                                | Inpex Corp                                                                      | CUSIP: 000000000<br>LEI: 353800VHYYADPR6MXQ47 | Long             | EC               | CORP              | JP        |     10200 | NS      | $183456.46    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Tobacco Inc                                         | Japan Tobacco Inc                                                               | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |      2700 | NS      | $88742.32     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                       | Deutsche Telekom AG                                                             | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     20482 | NS      | $697833.03    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Swissquote Group Holding SA                               | Swissquote Group Holding SA                                                     | CUSIP: 000000000<br>LEI: 549300O3WME82RDPEN66 | Long             | EC               | CORP              | CH        |        66 | NS      | $46346.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                              | ING Groep NV                                                                    | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |     14684 | NS      | $382680.23    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Reddit Inc                                                | Reddit Inc                                                                      | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |       204 | NS      | $46917.96     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                                        | Home Depot Inc/The                                                              | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4403 | NS      | $1784051.57   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HOCHTIEF AG                                               | HOCHTIEF AG                                                                     | CUSIP: 000000000<br>LEI: 529900Y25S8NZIYTT924 | Long             | EC               | CORP              | DE        |       977 | NS      | $261733.52    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Intel Corp                                                | Intel Corp                                                                      | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     14533 | NS      | $487582.15    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Of Nova Scotia NY Agency                             | Bank Of Nova Scotia NY Agency                                                   | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | RA               | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Auto Trader Group PLC                                     | Auto Trader Group PLC                                                           | CUSIP: 000000000<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |      4046 | NS      | $42929.66     | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Mitsui OSK Lines Ltd                                      | Mitsui OSK Lines Ltd                                                            | CUSIP: 000000000<br>LEI: 353800P8O843TMAZ6S09 | Long             | EC               | CORP              | JP        |      1600 | NS      | $48651.47     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| SS&C Technologies Holdings Inc                            | SS&C Technologies Holdings Inc                                                  | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      1193 | NS      | $105890.68    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                     | Wells Fargo & Co                                                                | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   6744000 | PA      | $6277820.39   | 1.04%             | 2033-03-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: —       |
| Rio Tinto PLC                                             | Rio Tinto PLC                                                                   | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      5085 | NS      | $335102.36    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryohin Keikaku Co Ltd                                     | Ryohin Keikaku Co Ltd                                                           | CUSIP: 000000000<br>LEI: 549300PMNF56J66BY371 | Long             | EC               | CORP              | JP        |      1000 | NS      | $19911.25     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Integrated Commercial Trust                    | CapitaLand Integrated Commercial Trust                                          | CUSIP: 000000000<br>LEI: 54930031292WUTXF0L29 | Long             | EC               |  | SG        |     93000 | NS      | $165111.11    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Honda Motor Co Ltd                                        | Honda Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |     12700 | NS      | $130473.49    | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| LOWE'S COS INC                                            | Lowe's Cos Inc                                                                  | CUSIP: 548661EA1<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    508000 | PA      | $463609.06    | 0.08%             | 2031-04-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: —       |
| Iron Mountain Inc                                         | Iron Mountain Inc                                                               | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |       490 | NS      | $49950.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Of Canada                                   | National Bank Of Canada                                                         | CUSIP: 000000000<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | RA               | CORP              | US        |   7000000 | PA      | $7000000.00   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV                                | Anheuser-Busch InBev SA/NV                                                      | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |      2159 | NS      | $129099.07    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| IMI PLC                                                   | IMI PLC                                                                         | CUSIP: 000000000<br>LEI: 2138002W9Q21PF751R30 | Long             | EC               | CORP              | GB        |      1609 | NS      | $49833.26     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                          | ABN AMRO Bank NV                                                                | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | EC               | CORP              | NL        |      3447 | NS      | $110387.86    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Societe Generale                                          | Societe Generale                                                                | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | RA               | CORP              | US        |   5000000 | PA      | $5000000.00   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurobank Ergasias Services and Holdings SA                | Eurobank Ergasias Services and Holdings SA                                      | CUSIP: 000000000<br>LEI: JEUVK5RWVJEN8W0C9M24 | Long             | EC               | CORP              | GR        |     14032 | NS      | $53984.88     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PG&E Corp                                                 | PG&E Corp                                                                       | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |      2977 | NS      | $44893.16     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                         | EURO STOXX 50 DEC25                                                             | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       137 | NC      | $253532.62    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                             | Koninklijke Ahold Delhaize NV                                                   | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     12324 | NS      | $498581.17    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                               | PURCHASED NOK / SOLD USD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | NO        |         1 | NC      | $-1541.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                               | PURCHASED CAD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CA        |         1 | NC      | $-4487.17     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PHILLIPS EDISON GROCERY                                   | Phillips Edison Grocery Center Operating Partnership I LP                       | CUSIP: 71845JAD0<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              |  | US        |    658000 | PA      | $672485.98    | 0.11%             | 2032-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| AutoNation Inc                                            | AutoNation Inc                                                                  | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       208 | NS      | $45504.16     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                  | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BM1<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |   1186000 | PA      | $1100565.02   | 0.18%             | 2031-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TFDXX LEX BLACKROCK FED FUND                              | TFDXX LEX BLACKROCK FED FUND                                                    | CUSIP: 09248U700<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2000000 | NS      | $2000000.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                       | Abbott Laboratories                                                             | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      6644 | NS      | $889897.36    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY CO                                         | Tractor Supply Co                                                               | CUSIP: 892356AB2<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    950000 | PA      | $979543.27    | 0.16%             | 2033-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Legrand SA                                                | Legrand SA                                                                      | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |      1102 | NS      | $183826.14    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                            | Eli Lilly & Co                                                                  | CUSIP: 532457CR7<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1505620.85   | 0.25%             | 2034-08-14      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| FedEx Corp                                                | FedEx Corp                                                                      | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       792 | NS      | $186761.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Veralto Corp                                              | Veralto Corp                                                                    | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |       904 | NS      | $96375.44     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexans SA                                                 | Nexans SA                                                                       | CUSIP: 000000000<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |       467 | NS      | $69709.25     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Synchrony Financial                                       | Synchrony Financial                                                             | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |       942 | NS      | $66929.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                                             | Ford Motor Co                                                                   | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     10353 | NS      | $123821.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                  | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAF9<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    707000 | PA      | $710799.87    | 0.12%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: —       |
| FISERV INC                                                | Fiserv Inc                                                                      | CUSIP: 337738BH0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    750000 | PA      | $787388.75    | 0.13%             | 2033-08-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| West Japan Railway Co                                     | West Japan Railway Co                                                           | CUSIP: 000000000<br>LEI: 353800QGUXHZ7EBCR121 | Long             | EC               | CORP              | JP        |      2000 | NS      | $43843.75     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kenvue Inc                                                | Kenvue Inc                                                                      | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |      2155 | NS      | $34975.65     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc                              | Apollo Global Management Inc                                                    | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |      1006 | NS      | $134069.62    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| SBA Communications Corp                                   | SBA Communications Corp                                                         | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |       290 | NS      | $56071.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                                       | Arista Networks Inc                                                             | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     13473 | NS      | $1963150.83   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER SA NY                                     | BANCO SANTANDER SA NY                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.17%             | 2025-10-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| ENTERGY ARKANSAS LLC                                      | Entergy Arkansas LLC                                                            | CUSIP: 29366MAF5<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |    978000 | PA      | $1022302.28   | 0.17%             | 2034-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| Commerzbank AG                                            | Commerzbank AG                                                                  | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | EC               | CORP              | DE        |      4401 | NS      | $165767.47    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                                   | BASF SE                                                                         | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |      1872 | NS      | $93307.78     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Electric Co Ltd                                | HD Hyundai Electric Co Ltd                                                      | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |       656 | NS      | $273623.81    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                              | CaixaBank SA                                                                    | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |     19636 | NS      | $206743.30    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HIGHWOODS REALTY LP                                       | Highwoods Realty LP                                                             | CUSIP: 431282AU6<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |    500000 | PA      | $567465.20    | 0.09%             | 2034-02-01      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                                      | Parker-Hannifin Corp                                                            | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      1423 | NS      | $1078847.45   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                            | Lonza Group AG                                                                  | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |        97 | NS      | $65100.30     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| GE HealthCare Technologies Inc                            | GE HealthCare Technologies Inc                                                  | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |       966 | NS      | $72546.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC                                              | Assurant Inc                                                                    | CUSIP: 04621XAQ1<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |    229000 | PA      | $232079.88    | 0.04%             | 2036-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CSX Corp                                                  | CSX Corp                                                                        | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      5041 | NS      | $179005.91    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                  | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBP9<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1069000 | PA      | $1105600.40   | 0.18%             | 2031-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Brookfield Asset Management Ltd                           | Brookfield Asset Management Ltd                                                 | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | CA        |      1581 | NS      | $89972.84     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NIDEC CORP                                                | NIDEC CORP                                                                      | CUSIP: 000000000<br>LEI: 353800IF171MZTNL6Y31 | Long             | EC               | CORP              | JP        |      3100 | NS      | $55058.14     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinder Morgan Inc                                         | Kinder Morgan Inc                                                               | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      8020 | NS      | $227046.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1153 | NS      | $918191.55    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA                                              | Leonardo SpA                                                                    | CUSIP: 000000000<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |       792 | NS      | $50310.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Logitech International SA                                 | Logitech International SA                                                       | CUSIP: 000000000<br>LEI: 549300SN6PRK6IJJC215 | Long             | EC               | CORP              | CH        |       438 | NS      | $48239.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Rollins Inc                                               | Rollins Inc                                                                     | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      4633 | NS      | $272142.42    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                                                | Acuity Inc                                                                      | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       248 | NS      | $85408.72     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc                                      | Freeport-McMoRan Inc                                                            | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     12345 | NS      | $484170.90    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                                            | ServiceNow Inc                                                                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       784 | NS      | $721499.52    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                                    | CenterPoint Energy Inc                                                          | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |      3211 | NS      | $124586.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Mitsubishi Estate Co Ltd                                  | Mitsubishi Estate Co Ltd                                                        | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |      2600 | NS      | $59874.39     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Niterra Co Ltd                                            | Niterra Co Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300RG3XQGTFM4HH31 | Long             | EC               | CORP              | JP        |      1200 | NS      | $46253.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank Of Nova Scotia, Toronto                          | The Bank Of Nova Scotia, Toronto                                                | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Curtiss-Wright Corp                                       | Curtiss-Wright Corp                                                             | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       144 | NS      | $78183.36     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                                                | Sysco Corp                                                                      | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      1416 | NS      | $116593.44    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL Ltd                                                   | CSL Ltd                                                                         | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |      1590 | NS      | $208882.13    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Holdings Inc                                       | Affirm Holdings Inc                                                             | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       575 | NS      | $42021.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd                            | Canadian Natural Resources Ltd                                                  | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |      7278 | NS      | $232716.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP                                       | American Tower Corp                                                             | CUSIP: 03027XCM0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    569000 | PA      | $587949.02    | 0.10%             | 2035-01-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd                               | National Australia Bank Ltd                                                     | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | EC               | CORP              | AU        |      5652 | NS      | $165424.77    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Gildan Activewear Inc                                     | Gildan Activewear Inc                                                           | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |       530 | NS      | $30618.67     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc                              | FactSet Research Systems Inc                                                    | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |       118 | NS      | $33805.82     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc                       | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |     18000 | NS      | $503882.03    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity National Information Services Inc                | Fidelity National Information Services Inc                                      | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      1093 | NS      | $72072.42     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Group PLC                                         | Ashtead Group PLC                                                               | CUSIP: 000000000<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |      1297 | NS      | $87158.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                          | HF Sinclair Corp                                                                | CUSIP: 403949AS9<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    606000 | PA      | $633451.18    | 0.10%             | 2035-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Sherwin-Williams Co/The                                   | Sherwin-Williams Co/The                                                         | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      2482 | NS      | $859417.32    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc                                     | Delta Electronics Inc                                                           | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |      3000 | NS      | $84094.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                               | PURCHASED KRW / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | KR        |         1 | NC      | $-76272.33    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Sandoz Group AG                                           | Sandoz Group AG                                                                 | CUSIP: 000000000<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |      1638 | NS      | $97407.86     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                  | Sabine Pass Liquefaction LLC                                                    | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003488.20   | 0.17%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Dexcom Inc                                                | Dexcom Inc                                                                      | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      1112 | NS      | $74826.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Givaudan SA                                               | Givaudan SA                                                                     | CUSIP: 000000000<br>LEI: 213800SVRMQA1TD91D41 | Long             | EC               | CORP              | CH        |        22 | NS      | $89679.64     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                       | JPMorgan Chase & Co                                                             | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1081000 | PA      | $1069146.62   | 0.18%             | 2026-06-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Prosus NV                                                 | Prosus NV                                                                       | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |      7093 | NS      | $503026.75    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Yangzijiang Shipbuilding Holdings Ltd                     | Yangzijiang Shipbuilding Holdings Ltd                                           | CUSIP: 000000000<br>LEI: 254900Z3JEM14YIGLM66 | Long             | EC               | CORP              | SG        |     69900 | NS      | $183160.05    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Komatsu Ltd                                               | Komatsu Ltd                                                                     | CUSIP: 000000000<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |      9600 | NS      | $334045.51    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| International Paper Co                                    | International Paper Co                                                          | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |      3225 | NS      | $149640.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| UniCredit SpA                                             | UniCredit SpA                                                                   | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |      6755 | NS      | $512864.72    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| NiSource Inc                                              | NiSource Inc                                                                    | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      5479 | NS      | $237240.70    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                                       | General Electric Co                                                             | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      8799 | NS      | $2646915.18   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlsberg AS                                              | Carlsberg AS                                                                    | CUSIP: 000000000<br>LEI: 5299001O0WJQYB5GYZ19 | Long             | EC               | CORP              | DK        |       374 | NS      | $43479.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Suzuki Motor Corp                                         | Suzuki Motor Corp                                                               | CUSIP: 000000000<br>LEI: 353800D83H0V3ZV1SV24 | Long             | EC               | CORP              | JP        |      5500 | NS      | $80172.02     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Deere & Co                                                | Deere & Co                                                                      | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1582 | NS      | $723385.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Hydro One Ltd                                             | Hydro One Ltd                                                                   | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |      8414 | NS      | $300176.12    | 0.05%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Swiss Re AG                                               | Swiss Re AG                                                                     | CUSIP: 000000000<br>LEI: 529900PS9YW3YY29F326 | Long             | EC               | CORP              | CH        |       891 | NS      | $165118.76    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                                 | Zurich Insurance Group AG                                                       | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |       807 | NS      | $576014.76    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Analog Devices Inc                                        | Analog Devices Inc                                                              | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      1889 | NS      | $464127.30    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                                 | Danone SA                                                                       | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |      1817 | NS      | $158304.98    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                   | Charles Schwab Corp/The                                                         | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      6131 | NS      | $585326.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc                                   | Illinois Tool Works Inc                                                         | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      1877 | NS      | $489446.52    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Aflac Inc                                                 | Aflac Inc                                                                       | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |      2051 | NS      | $229096.70    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED CHF / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CH        |         1 | NC      | $-8265.16     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                    | US 10YR NOTE (CBT)DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -537 | NC      | $-135838.41   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                         | Eversource Energy                                                               | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      1641 | NS      | $116740.74    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                          | Duke Energy Corp                                                                | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      2176 | NS      | $269280.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd                        | Credo Technology Group Holding Ltd                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      1363 | NS      | $198466.43    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                                | Allianz SE                                                                      | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      1611 | NS      | $677171.83    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Snowflake Inc                                             | Snowflake Inc                                                                   | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      4275 | NS      | $964226.25    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                        | AerCap Holdings NV                                                              | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |       363 | NS      | $43923.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                        | Meta Platforms Inc                                                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     11632 | NS      | $8542308.16   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                                | Pfizer Inc                                                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     18878 | NS      | $481011.44    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                                                 | Hoya Corp                                                                       | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |      1800 | NS      | $248652.69    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| VeriSign Inc                                              | VeriSign Inc                                                                    | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |      1908 | NS      | $533419.56    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                                   | E.ON SE                                                                         | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |     18191 | NS      | $342031.08    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Ross Stores Inc                                           | Ross Stores Inc                                                                 | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |       698 | NS      | $106368.22    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc                                   | Lululemon Athletica Inc                                                         | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |       322 | NS      | $57293.46     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                                 | Argenx SE                                                                       | CUSIP: 000000000<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |       112 | NS      | $82273.16     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| First Solar Inc                                           | First Solar Inc                                                                 | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      2417 | NS      | $533021.01    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc                                     | Waste Connections Inc                                                           | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      1958 | NS      | $344216.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                                                    | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     13104 | NS      | $538687.08    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Mediobanca Banca di Credito Finanziario SpA               | Mediobanca Banca di Credito Finanziario SpA                                     | CUSIP: 000000000<br>LEI: PSNL19R2RXX5U3QWHI44 | Long             | EC               | CORP              | IT        |      5164 | NS      | $104544.03    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Communications Inc                                | Verizon Communications Inc                                                      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     17953 | NS      | $789034.35    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                                             | BHP Group Ltd                                                                   | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     14780 | NS      | $412973.74    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| RTX CORP                                                  | RTX Corp                                                                        | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1118812.73   | 0.18%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: —       |
| Generali                                                  | Generali                                                                        | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |      5112 | NS      | $200869.68    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp                                               | Oracle Corp                                                                     | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      9527 | NS      | $2679373.48   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                                    | UCB SA                                                                          | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |       193 | NS      | $53397.15     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Lasertec Corp                                             | Lasertec Corp                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       200 | NS      | $27633.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                    | Standard Chartered PLC                                                          | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |     11213 | NS      | $217302.45    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                                              | Experian PLC                                                                    | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |      2431 | NS      | $122430.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RTX Corp                                                  | RTX Corp                                                                        | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     10330 | NS      | $1728518.90   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                    | UnitedHealth Group Inc                                                          | CUSIP: 91324PFJ6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1247023.56   | 0.21%             | 2034-07-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| Edwards Lifesciences Corp                                 | Edwards Lifesciences Corp                                                       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      2288 | NS      | $177937.76    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                    | PURCHASED CNH / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | CN        |         1 | NC      | $5492.32      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd                            | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |        50 | NS      | $87475.75     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR + CO INC  A                                           | KKR + CO INC  A                                                                 | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      1184 | NS      | $153860.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life Inc                                            | Globe Life Inc                                                                  | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |       560 | NS      | $80063.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                                                   | Eni SpA                                                                         | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     13052 | NS      | $227910.92    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                                         | Brown & Brown Inc                                                               | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |       566 | NS      | $53085.14     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                  | Capital One Financial Corp                                                      | CUSIP: 14040HDN2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    495000 | PA      | $489555.72    | 0.08%             | 2036-09-11      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SVENSKA NY                                                | SVENSKA NY                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.33%             | 2025-10-01      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                                        | BMW US Capital LLC                                                              | CUSIP: 05565ECZ6<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   1073000 | PA      | $1110146.82   | 0.18%             | 2035-03-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| Eiffage SA                                                | Eiffage SA                                                                      | CUSIP: 000000000<br>LEI: 969500OQXKE5WDM9M994 | Long             | EC               | CORP              | FR        |       677 | NS      | $87073.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                                        | Pacific Life Global Funding II                                                  | CUSIP: 6944PL3L1<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   1841000 | PA      | $1874056.50   | 0.31%             | 2032-07-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                       | Cheniere Energy Inc                                                             | CUSIP: 16411RAN9<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1077228.08   | 0.18%             | 2034-04-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| Boeing Co/The                                             | Boeing Co/The                                                                   | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      1020 | NS      | $220146.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Steel Corp                                         | Nippon Steel Corp                                                               | CUSIP: 000000000<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |     11000 | NS      | $45255.98     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Autodesk Inc                                              | Autodesk Inc                                                                    | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      1289 | NS      | $409476.63    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prysmian SpA                                              | Prysmian SpA                                                                    | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |      1514 | NS      | $151224.59    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Orsted AS                                                 | Orsted AS                                                                       | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | EC               | CORP              | DK        |       929 | NS      | $16694.81     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Crowdstrike Holdings Inc                                  | Crowdstrike Holdings Inc                                                        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1147 | NS      | $562465.86    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Aon PLC                                                   | Aon PLC                                                                         | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |       855 | NS      | $304875.90    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                                            | GE Vernova Inc                                                                  | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      2936 | NS      | $1805346.40   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                                            | Blackstone Inc                                                                  | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      2747 | NS      | $469324.95    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                                           | Gen Digital Inc                                                                 | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |      3355 | NS      | $95248.45     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                                                | Ferrari NV                                                                      | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |       644 | NS      | $311793.95    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                    | General Motors Financial Co Inc                                                 | CUSIP: 37045XEV4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2077100.62   | 0.34%             | 2034-04-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| MonotaRO Co Ltd                                           | MonotaRO Co Ltd                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1800 | NS      | $26141.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Allstate Corp/The                                         | Allstate Corp/The                                                               | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |       560 | NS      | $120204.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Redeia Corp SA                                            | Redeia Corp SA                                                                  | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |      4371 | NS      | $84461.64     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                    | General Motors Financial Co Inc                                                 | CUSIP: 37045XDL7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    480000 | PA      | $429123.32    | 0.07%             | 2031-06-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: —       |
| Barclays Capital Inc                                      | Barclays Capital Inc                                                            | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Solventum Corp                                            | Solventum Corp                                                                  | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |       273 | NS      | $19929.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                                       | Cardinal Health Inc                                                             | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      2713 | NS      | $425832.48    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                               | Cencora Inc                                                                     | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1500 | NS      | $468795.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Goldman Sachs International                               | PURCHASED DKK / SOLD USD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | DK        |         1 | NC      | $-3284.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Amrize Ltd                                                | Amrize Ltd                                                                      | CUSIP: 000000000<br>LEI: 529900SLCCO6K43P8146 | Long             | EC               | CORP              | CH        |      2617 | NS      | $126821.18    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Heidelberg Materials AG                                   | Heidelberg Materials AG                                                         | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |      1047 | NS      | $235710.44    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| SoftBank Group Corp                                       | SoftBank Group Corp                                                             | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |      1600 | NS      | $203216.18    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext NV                                               | Euronext NV                                                                     | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |       597 | NS      | $89227.85     | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | Truist Financial Corp                                                           | CUSIP: 89788MAB8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    724000 | PA      | $652213.42    | 0.11%             | 2030-06-05      | Fixed         | 1.95%                 | No            |                  2 | On Loan: —       |
| Bayer AG                                                  | Bayer AG                                                                        | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |      1388 | NS      | $46021.10     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                                         | Kinross Gold Corp                                                               | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |      6659 | NS      | $165266.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XBZ7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    611000 | PA      | $489345.66    | 0.08%             | 2041-03-25      | Fixed         | 3.65%                 | No            |                  2 | On Loan: —       |
| JPMorgan Chase Bank NA                                    | PURCHASED CHF / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CH        |         1 | NC      | $-78808.13    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Strategy Inc                                              | Strategy Inc                                                                    | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |       856 | NS      | $275811.76    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Carrier Global Corp                                       | Carrier Global Corp                                                             | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      3847 | NS      | $229665.90    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                                    | Roper Technologies Inc                                                          | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       351 | NS      | $175040.19    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED JPY / SOLD CHF                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | JP        |         1 | NC      | $55001.46     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Life Financial Inc                                    | Sun Life Financial Inc                                                          | CUSIP: 866796105<br>LEI: 549300V040JZX5S66Z78 | Long             | EC               | CORP              | CA        |      1621 | NS      | $97339.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International SCA                                  | Hermes International SCA                                                        | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |       100 | NS      | $245242.69    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                                 | Sanofi SA                                                                       | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      3322 | NS      | $314009.62    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Altria Group Inc                                          | Altria Group Inc                                                                | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      1642 | NS      | $108470.52    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp                                  | Mitsubishi Electric Corp                                                        | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |      1800 | NS      | $46860.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Palo Alto Networks Inc                                    | Palo Alto Networks Inc                                                          | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      2927 | NS      | $595995.74    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| HCA INC                                                   | HCA Inc                                                                         | CUSIP: 404119CC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1774250.40   | 0.29%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                               | S+P500 EMINI FUT DEC25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       -67 | NC      | $-444442.08   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                                  | AT&T Inc                                                                        | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $689118.06    | 0.11%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Accton Technology Corp                                    | Accton Technology Corp                                                          | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |      2000 | NS      | $69243.40     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Starbucks Corp                                            | Starbucks Corp                                                                  | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      3775 | NS      | $319365.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| TE Connectivity PLC                                       | TE Connectivity PLC                                                             | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |      3981 | NS      | $873948.93    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                                                    | RWE AG                                                                          | CUSIP: 000000000<br>LEI: 529900GB7KCA94ACC940 | Long             | EC               | CORP              | DE        |      2417 | NS      | $107341.89    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                   | Dell International LLC / EMC Corp                                               | CUSIP: 24703DBS9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    548000 | PA      | $546733.17    | 0.09%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cameco Corp                                               | Cameco Corp                                                                     | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |      1719 | NS      | $144269.02    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co                                       | Emerson Electric Co                                                             | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      5647 | NS      | $740773.46    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                                  | Vinci SA                                                                        | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |      2907 | NS      | $404766.89    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                       | Synchrony Financial                                                             | CUSIP: 87165BAY9<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    269000 | PA      | $275144.30    | 0.05%             | 2036-07-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                              | Citizens Financial Group Inc                                                    | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      1725 | NS      | $91701.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                                                    | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     73593 | NS      | $377370.02    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Simon Property Group Inc                                  | Simon Property Group Inc                                                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |      2219 | NS      | $416439.73    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                            | TC Energy Corp                                                                  | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |      2956 | NS      | $160724.67    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| MEITEC Group Holdings Inc                                 | MEITEC Group Holdings Inc                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2800 | NS      | $60375.77     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                    | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | XX        |         1 | NC      | $-18465.04    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                           | Yum! Brands Inc                                                                 | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |       710 | NS      | $107920.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTL INC                                    | Philip Morris International Inc                                                 | CUSIP: 718172DT3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $1080787.24   | 0.18%             | 2030-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| HORACE MANN EDUCATORS CO                                  | Horace Mann Educators Corp                                                      | CUSIP: 440327AM6<br>LEI: 254900G5YAV3A2YK8T32 | Long             | DBT              | CORP              | US        |    449000 | PA      | $444558.73    | 0.07%             | 2030-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: —       |
| UNUM GROUP                                                | Unum Group                                                                      | CUSIP: 91529YAT3<br>LEI: 549300E32YFDO6TZ8R31 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1022380.04   | 0.17%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Live Nation Entertainment Inc                             | Live Nation Entertainment Inc                                                   | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |      3090 | NS      | $504906.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Sumitomo Corp                                             | Sumitomo Corp                                                                   | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |      8700 | NS      | $251777.04    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Datadog Inc                                               | Datadog Inc                                                                     | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      1353 | NS      | $192667.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                                  | Cheniere Corpus Christi Holdings LLC                                            | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |   1126000 | PA      | $1094295.00   | 0.18%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Shiseido Co Ltd                                           | Shiseido Co Ltd                                                                 | CUSIP: 000000000<br>LEI: 5299008QCD0YDT5OF506 | Long             | EC               | CORP              | JP        |       100 | NS      | $1710.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Docusign Inc                                              | Docusign Inc                                                                    | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |       811 | NS      | $58464.99     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                    | PURCHASED USD / SOLD CNH                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $17420.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Hutchison Holdings Ltd                                 | CK Hutchison Holdings Ltd                                                       | CUSIP: 000000000<br>LEI: 254900Z8HM1VEPOQ2G79 | Long             | EC               | CORP              | KY        |      7000 | NS      | $46197.36     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                                                 | Shell PLC                                                                       | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      6025 | NS      | $216432.66    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| PulteGroup Inc                                            | PulteGroup Inc                                                                  | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       640 | NS      | $84563.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc                                  | Ferguson Enterprises Inc                                                        | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |       691 | NS      | $155184.78    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER TREASURY DAC                                      | Flutter Treasury DAC                                                            | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |   1268000 | PA      | $1287045.36   | 0.21%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc                    | International Flavors & Fragrances Inc                                          | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |       603 | NS      | $37108.62     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                    | US 2YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -26 | NC      | $757.43       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/The                          | Bank of New York Mellon Corp/The                                                | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      4665 | NS      | $508298.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley                                                                  | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     10049 | NS      | $1597389.04   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                                             | Carnival Corp                                                                   | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |      1406 | NS      | $40647.46     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                                           | Ulta Beauty Inc                                                                 | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |        86 | NS      | $47020.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OVINTIV INC                                               | Ovintiv Inc                                                                     | CUSIP: 292505AG9<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |   1087000 | PA      | $1142323.59   | 0.19%             | 2038-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Hartford Insurance Group Inc/The                          | Hartford Insurance Group Inc/The                                                | CUSIP: 416518AD0<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |   3318000 | PA      | $2153059.36   | 0.36%             | 2051-09-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Caterpillar Inc                                           | Caterpillar Inc                                                                 | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1778 | NS      | $848372.70    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                                              | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |     66334 | NS      | $693275.94    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp Ltd                          | Oversea-Chinese Banking Corp Ltd                                                | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |     16500 | NS      | $210418.23    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| KELLANOVA                                                 | Kellanova                                                                       | CUSIP: 487836BZ0<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |    646000 | PA      | $669609.71    | 0.11%             | 2033-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| ICE Futures Europe - Financial Products Division          | FTSE 100 IDX FUT DEC25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | GB        |        44 | NC      | $49492.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                               | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-5702.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Monolithic Power Systems Inc                              | Monolithic Power Systems Inc                                                    | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       157 | NS      | $144540.48    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS CORNING                                             | Owens Corning                                                                   | CUSIP: 690742AQ4<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031940.34   | 0.17%             | 2054-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| QUALCOMM Inc                                              | QUALCOMM Inc                                                                    | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      3752 | NS      | $624182.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOWERS FOODS INC                                         | Flowers Foods Inc                                                               | CUSIP: 343498AC5<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |    630000 | PA      | $559146.93    | 0.09%             | 2031-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: —       |
| Shopify Inc                                               | Shopify Inc                                                                     | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      1557 | NS      | $231385.77    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN IMPERIAL BANK TOR                                | CANADIAN IMPERIAL BANK TOR                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.17%             | 2025-10-01      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| Sysmex Corp                                               | Sysmex Corp                                                                     | CUSIP: 000000000<br>LEI: 5299001ZO4CKWACMZI55 | Long             | EC               | CORP              | JP        |      3000 | NS      | $37201.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Diageo PLC                                                | Diageo PLC                                                                      | CUSIP: 000000000<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |      6311 | NS      | $150238.48    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                                | Siemens AG                                                                      | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      3450 | NS      | $930872.62    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| ANZ Group Holdings Ltd                                    | ANZ Group Holdings Ltd                                                          | CUSIP: 000000000<br>LEI: 9845005D9C6BAA10BK72 | Long             | EC               | CORP              | AU        |      8942 | NS      | $196073.15    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                                               | NN Group NV                                                                     | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |      1564 | NS      | $110423.42    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Asics Corp                                                | Asics Corp                                                                      | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |      5500 | NS      | $143607.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelixis Inc                                              | Exelixis Inc                                                                    | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      3476 | NS      | $143558.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United Overseas Bank Ltd                                  | United Overseas Bank Ltd                                                        | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |      4700 | NS      | $126086.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                  | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5173000 | PA      | $3412677.61   | 0.56%             | 2051-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                                              | AutoZone Inc                                                                    | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       111 | NS      | $476216.64    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                                       | EssilorLuxottica SA                                                             | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |      1345 | NS      | $438706.70    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp                                     | ON Semiconductor Corp                                                           | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |       879 | NS      | $43343.49     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                                                | Haleon PLC                                                                      | CUSIP: 000000000<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |     10184 | NS      | $46000.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen                       | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |       618 | NS      | $394874.73    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Ameriprise Financial Inc                                  | Ameriprise Financial Inc                                                        | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       599 | NS      | $294258.75    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                                        | HCA Healthcare Inc                                                              | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1799 | NS      | $766733.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| KILROY REALTY LP                                          | Kilroy Realty LP                                                                | CUSIP: 49427RAQ5<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |    500000 | PA      | $415439.15    | 0.07%             | 2032-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: —       |
| BOEING CO                                                 | Boeing Co/The                                                                   | CUSIP: 097023CP8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1735691.30   | 0.29%             | 2035-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| Liberty Media Corp-Liberty Formula One                    | Liberty Media Corp-Liberty Formula One                                          | CUSIP: 531229755<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4484 | NS      | $468353.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Financial Group Inc                                  | Sony Financial Group Inc                                                        | CUSIP: 000000000<br>LEI: 353800O7BDSU41WOZA60 | Long             | EC               | CORP              | JP        |     22600 | NS      | $25062.72     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                                          | Deutsche Post AG                                                                | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |      1058 | NS      | $47186.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                         | Southern Power Co                                                               | CUSIP: 843646AY6<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |    585000 | PA      | $576927.51    | 0.10%             | 2035-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp                                       | Otis Worldwide Corp                                                             | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      2186 | NS      | $199865.98    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                                                  | KLA Corp                                                                        | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       859 | NS      | $926517.40    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                                              | Glencore PLC                                                                    | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |     11474 | NS      | $53024.22     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Copart Inc                                                | Copart Inc                                                                      | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      2601 | NS      | $116966.97    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                           | Telefonaktiebolaget LM Ericsson                                                 | CUSIP: 000000000<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |     11673 | NS      | $96827.33     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ajinomoto Co Inc                                          | Ajinomoto Co Inc                                                                | CUSIP: 000000000<br>LEI: 353800UT0TLROREPIC92 | Long             | EC               | CORP              | JP        |      7100 | NS      | $203683.87    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Hartford Insurance Group Inc/The                          | Hartford Insurance Group Inc/The                                                | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      1399 | NS      | $186612.61    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Stantec Inc                                               | Stantec Inc                                                                     | CUSIP: 85472N109<br>LEI: 549300MZ7NGUZDCP2T16 | Long             | EC               | CORP              | CA        |      1234 | NS      | $133082.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd                              | Takeda Pharmaceutical Co Ltd                                                    | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |      5200 | NS      | $151807.48    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                                  | Baltimore Gas and Electric Co                                                   | CUSIP: 059165EQ9<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1963194.90   | 0.32%             | 2053-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| ROGERS COMMUNICATIONS IN                                  | Rogers Communications Inc                                                       | CUSIP: 775109CK5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1914000 | PA      | $1586571.08   | 0.26%             | 2052-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                  | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401ABC4<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1978000 | PA      | $1954118.81   | 0.32%             | 2032-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| NVR Inc                                                   | NVR Inc                                                                         | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        47 | NS      | $377629.02    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Shimano Inc                                               | Shimano Inc                                                                     | CUSIP: 000000000<br>LEI: 529900L32YT3P9DECR10 | Long             | EC               | CORP              | JP        |       200 | NS      | $22724.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Electronic Arts Inc                                       | Electronic Arts Inc                                                             | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |       547 | NS      | $110329.90    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                                             | McKesson Corp                                                                   | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       801 | NS      | $618804.54    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS FINL CO                                    | General Motors Financial Co Inc                                                 | CUSIP: 37045XER3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    647000 | PA      | $674072.99    | 0.11%             | 2031-02-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp                                    | Regions Financial Corp                                                          | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      3395 | NS      | $89526.15     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Midstream LP                                         | Hess Midstream LP                                                               | CUSIP: 428103105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2144 | NS      | $74075.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc                                      | Verisk Analytics Inc                                                            | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |       488 | NS      | $122736.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                                | Humana Inc                                                                      | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       642 | NS      | $167029.14    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL INT LLC / EMC CORP                                   | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAN6<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    403000 | PA      | $416042.97    | 0.07%             | 2032-04-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Agree Realty Corp                                         | Agree Realty Corp                                                               | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               |  | US        |      1920 | NS      | $136396.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Tapestry Inc                                              | Tapestry Inc                                                                    | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |      4865 | NS      | $550815.30    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                                 | Keysight Technologies Inc                                                       | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |       545 | NS      | $95331.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                                             | Kroger Co/The                                                                   | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      4473 | NS      | $301524.93    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                             | Pinterest Inc                                                                   | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3001 | NS      | $96542.17     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                                        | Expand Energy Corp                                                              | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    546000 | PA      | $561184.73    | 0.09%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| KEYSIGHT TECHNOLOGIES                                     | Keysight Technologies Inc                                                       | CUSIP: 49338LAH6<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    871000 | PA      | $905343.97    | 0.15%             | 2030-07-30      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| ROBLOX Corp                                               | ROBLOX Corp                                                                     | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       547 | NS      | $75770.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                                     | RPM International Inc                                                           | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |       720 | NS      | $84873.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc                                | Mizuho Financial Group Inc                                                      | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     16090 | NS      | $538531.34    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Church & Dwight Co Inc                                    | Church & Dwight Co Inc                                                          | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |       485 | NS      | $42500.55     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc                                                | Twilio Inc                                                                      | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |       428 | NS      | $42838.52     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie de Saint-Gobain SA                                    | Cie de Saint-Gobain SA                                                          | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |      3332 | NS      | $362990.36    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-Kymmene Oyj                                           | UPM-Kymmene Oyj                                                                 | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |      2368 | NS      | $64844.49     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Synopsys Inc                                              | Synopsys Inc                                                                    | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       593 | NS      | $292580.27    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Canadian National Railway Co                              | Canadian National Railway Co                                                    | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |       998 | NS      | $94113.33     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                                 | Apple Inc                                                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     61536 | NS      | $15668911.68  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd                                           | Nintendo Co Ltd                                                                 | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |      4600 | NS      | $394065.19    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG                                       | Erste Group Bank AG                                                             | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |      1273 | NS      | $124442.81    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Danaher Corp                                              | Danaher Corp                                                                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      2170 | NS      | $430224.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT AGRICOLE CIB, NY                                   | CREDIT AGRICOLE CIB, NY                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1499967 | PA      | $1499967.00   | 0.25%             | 2025-12-03      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                  | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1136000 | PA      | $1080029.70   | 0.18%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: —       |
| Smurfit WestRock PLC                                      | Smurfit WestRock PLC                                                            | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |       968 | NS      | $41207.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Nomura Securities International Inc                       | Nomura Securities International Inc                                             | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Long             | RA               | CORP              | US        |   2300000 | PA      | $2300000.00   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| KDDI Corp                                                 | KDDI Corp                                                                       | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |     20900 | NS      | $334891.80    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank Of Canada                                   | National Bank Of Canada                                                         | CUSIP: 000000000<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | RA               | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Poste Italiane SpA                                        | Poste Italiane SpA                                                              | CUSIP: 000000000<br>LEI: 815600354DEDBD0BA991 | Long             | EC               | CORP              | IT        |      4330 | NS      | $102693.80    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                             | Regeneron Pharmaceuticals Inc                                                   | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       115 | NS      | $64661.05     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                    | Diamondback Energy Inc                                                          | CUSIP: 25278XAR0<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   1189000 | PA      | $1104728.45   | 0.18%             | 2031-03-24      | Fixed         | 3.12%                 | No            |                  2 | On Loan: —       |
| Builders FirstSource Inc                                  | Builders FirstSource Inc                                                        | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |       314 | NS      | $38072.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                                        | Vodafone Group PLC                                                              | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |    163831 | NS      | $189977.63    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                          | Paramount Global                                                                | CUSIP: 92556HAD9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1164470.93   | 0.19%             | 2032-05-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: —       |
| Seven & i Holdings Co Ltd                                 | Seven & i Holdings Co Ltd                                                       | CUSIP: 000000000<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |      6400 | NS      | $86075.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                 | Taiwan Semiconductor Manufacturing Co Ltd                                       | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       620 | NS      | $173159.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                                      | Howmet Aerospace Inc                                                            | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      7630 | NS      | $1497234.90   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                                             | AppLovin Corp                                                                   | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |       872 | NS      | $626566.88    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Automatic Data Processing Inc                             | Automatic Data Processing Inc                                                   | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      1726 | NS      | $506581.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Financial Inc                               | National Bank Financial Inc                                                     | CUSIP: 000000000<br>LEI: 549300D83GR71RNG0O65 | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Rivian Automotive Inc                                     | Rivian Automotive Inc                                                           | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Long             | EC               | CORP              | US        |      3100 | NS      | $45508.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Vonovia SE                                                | Vonovia SE                                                                      | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |      1587 | NS      | $49530.83     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1047000 | PA      | $1052765.23   | 0.17%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| ALIMENTATION COUCHE-TARD                                  | Alimentation Couche-Tard Inc                                                    | CUSIP: 01626PAM8<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |    447000 | PA      | $422221.30    | 0.07%             | 2030-01-25      | Fixed         | 2.95%                 | No            |                  2 | On Loan: —       |
| GENERAL ELECTRIC CO                                       | General Electric Co                                                             | CUSIP: 369604CA9<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    201000 | PA      | $203800.46    | 0.03%             | 2036-01-29      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| Prudential Financial Inc                                  | Prudential Financial Inc                                                        | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |       394 | NS      | $40873.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp                                   | Manulife Financial Corp                                                         | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |     11203 | NS      | $349042.24    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                          | MercadoLibre Inc                                                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       244 | NS      | $570213.36    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                                  | Berkshire Hathaway Energy Co                                                    | CUSIP: 59562VAR8<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    345000 | PA      | $382189.34    | 0.06%             | 2037-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                               | Oracle Corp                                                                     | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    984000 | PA      | $982187.84    | 0.16%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: —       |
| Yokogawa Electric Corp                                    | Yokogawa Electric Corp                                                          | CUSIP: 000000000<br>LEI: 529900MV0U7C9WWF4L22 | Long             | EC               | CORP              | JP        |      4400 | NS      | $126290.11    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Highwoods Realty LP                                       | Highwoods Realty LP                                                             | CUSIP: 431282AR3<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |    500000 | PA      | $489769.26    | 0.08%             | 2029-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: —       |
| Digital Realty Trust Inc                                  | Digital Realty Trust Inc                                                        | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |      1819 | NS      | $314468.72    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                                                 | Boeing Co/The                                                                   | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499531.89    | 0.08%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: —       |
| JPMORGAN CHASE & CO                                       | JPMorgan Chase & Co                                                             | CUSIP: 46647PBE5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6243000 | PA      | $5895888.76   | 0.97%             | 2030-10-15      | Fixed         | 2.74%                 | No            |                  2 | On Loan: —       |
| GILDAN ACTIVEWEAR INC                                     | Gildan Activewear Inc                                                           | CUSIP: 375916AG8<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |    181000 | PA      | $181025.14    | 0.03%             | 2035-10-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                      | Enel Finance International NV                                                   | CUSIP: 29278GBH0<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    763000 | PA      | $751873.58    | 0.12%             | 2035-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                          | BAT Capital Corp                                                                | CUSIP: 05526DBD6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1194870.25   | 0.20%             | 2037-08-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Forestry Co Ltd                                  | Sumitomo Forestry Co Ltd                                                        | CUSIP: 000000000<br>LEI: 549300FIIRGO6D5FWR19 | Long             | EC               | CORP              | JP        |      5400 | NS      | $64616.67     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Alamos Gold Inc                                           | Alamos Gold Inc                                                                 | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |      3311 | NS      | $115410.37    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WW Grainger Inc                                           | WW Grainger Inc                                                                 | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |        94 | NS      | $89578.24     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                            | TOPIX INDX FUTR DEC25                                                           | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |         9 | NC      | $17486.42     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp                                        | Franco-Nevada Corp                                                              | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      1420 | NS      | $316069.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Fifth Third Bancorp                                       | Fifth Third Bancorp                                                             | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      1586 | NS      | $70656.30     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                                            | Prudential PLC                                                                  | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |      4276 | NS      | $60191.27     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                                           | T-Mobile US Inc                                                                 | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      3584 | NS      | $857937.92    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                               | Novartis AG                                                                     | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      7057 | NS      | $907463.36    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corp                                       | Kimberly-Clark Corp                                                             | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      1856 | NS      | $230775.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International Inc                          | Mettler-Toledo International Inc                                                | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |        50 | NS      | $61380.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                                           | Nordea Bank Abp                                                                 | CUSIP: 000000000<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |      8123 | NS      | $133351.77    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                    | BBG IG CREDIT FUT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCR              |  | US        |       183 | NC      | $7581.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                                         | National Grid PLC                                                               | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     21686 | NS      | $312638.33    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                               | Prologis LP                                                                     | CUSIP: 74340XCQ2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    290000 | PA      | $296178.68    | 0.05%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Sumitomo Electric Industries Ltd                          | Sumitomo Electric Industries Ltd                                                | CUSIP: 000000000<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |      4300 | NS      | $122166.74    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Travelers Cos Inc/The                                     | Travelers Cos Inc/The                                                           | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       166 | NS      | $46350.52     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                                             | AIA Group Ltd                                                                   | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |     46600 | NS      | $446672.12    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communications Inc                                | Charter Communications Inc                                                      | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       268 | NS      | $73728.14     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| NEC Corp                                                  | NEC Corp                                                                        | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |      2700 | NS      | $86316.56     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DZ BANK AG NEW YORK                                       | DZ BANK AG NEW YORK                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.17%             | 2025-10-01      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Weyerhaeuser Co                                           | Weyerhaeuser Co                                                                 | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |      2195 | NS      | $54414.05     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Asset Holdings Ltd                                     | CK Asset Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 5299006GJZSGP78B8S35 | Long             | EC               | CORP              | KY        |     10000 | NS      | $48530.03     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                                        | Siemens Funding BV                                                              | CUSIP: 82622RAG1<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $216851.24    | 0.04%             | 2065-05-28      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| Tencent Holdings Ltd                                      | Tencent Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      1100 | NS      | $93715.37     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Inc                              | Citigroup Global Markets Inc                                                    | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP                                        | CNA Financial Corp                                                              | CUSIP: 126117AZ3<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |   1113000 | PA      | $1115128.39   | 0.18%             | 2035-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| Taisei Corp                                               | Taisei Corp                                                                     | CUSIP: 000000000<br>LEI: 529900TF7XJKIOWMLQ79 | Long             | EC               | CORP              | JP        |      1600 | NS      | $109889.83    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BELROSE FUNDING TRUST II                                  | Belrose Funding Trust II                                                        | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    694000 | PA      | $751558.39    | 0.12%             | 2055-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: —       |
| Toast Inc                                                 | Toast Inc                                                                       | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |      1606 | NS      | $58635.06     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                    | US 10YR ULTRA FUT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -11 | NC      | $871.21       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp                                      | Las Vegas Sands Corp                                                            | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      1351 | NS      | $72670.29     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS                                    | Verizon Communications Inc                                                      | CUSIP: 92343VGB4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   2187000 | PA      | $1603509.08   | 0.26%             | 2051-03-22      | Fixed         | 3.55%                 | No            |                  2 | On Loan: —       |
| Booking Holdings Inc                                      | Booking Holdings Inc                                                            | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       311 | NS      | $1679172.97   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                                      | Keurig Dr Pepper Inc                                                            | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      4345 | NS      | $110840.95    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                            | Merck & Co Inc                                                                  | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      8955 | NS      | $751593.15    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                                 | Safran SA                                                                       | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |       921 | NS      | $326163.64    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinix Inc                                               | Equinix Inc                                                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |       458 | NS      | $358723.92    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                                        | Expand Energy Corp                                                              | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |       466 | NS      | $49507.84     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co                                      | Colgate-Palmolive Co                                                            | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      9921 | NS      | $793084.74    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                                     | Quest Diagnostics Inc                                                           | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      1645 | NS      | $313504.10    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                            | S&P Global Inc                                                                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      2209 | NS      | $1075142.39   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSPRING GOVT FUND LEX                                   | ALLSPRING GOVT FUND LEX                                                         | CUSIP: 09248U700<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1000000 | NS      | $1000000.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                           | Equity LifeStyle Properties Inc                                                 | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |       976 | NS      | $59243.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services Inc                          | West Pharmaceutical Services Inc                                                | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |       256 | NS      | $67156.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                                   | CRH PLC                                                                         | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      4684 | NS      | $561611.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                                       | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HBZ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   2344000 | PA      | $2580089.53   | 0.43%             | 2033-06-20      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| ENBRIDGE INC                                              | Enbridge Inc                                                                    | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $528995.00    | 0.09%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Brambles Ltd                                              | Brambles Ltd                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      7133 | NS      | $117619.26    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kansai Electric Power Co Inc/The                          | Kansai Electric Power Co Inc/The                                                | CUSIP: 000000000<br>LEI: 353800PFUKP5ONPJNZ86 | Long             | EC               | CORP              | JP        |      3300 | NS      | $47267.51     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                            | Eli Lilly & Co                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      4246 | NS      | $3239698.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc                                 | Tokio Marine Holdings Inc                                                       | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |      5300 | NS      | $224219.61    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Zillow Group Inc                                          | Zillow Group Inc                                                                | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |       523 | NS      | $40297.15     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| InterContinental Hotels Group PLC                         | InterContinental Hotels Group PLC                                               | CUSIP: 000000000<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |       865 | NS      | $104837.68    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American PLC                                        | Anglo American PLC                                                              | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |      3477 | NS      | $130908.76    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                         | Siemens Energy AG                                                               | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |      2974 | NS      | $347743.63    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co                                   | Arthur J Gallagher & Co                                                         | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |       288 | NS      | $89205.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Obic Co Ltd                                               | Obic Co Ltd                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1300 | NS      | $45381.40     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Payments Inc                                       | Global Payments Inc                                                             | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |       879 | NS      | $73027.32     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                  | Virginia Electric and Power Co                                                  | CUSIP: 927804GT5<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1843000 | PA      | $1876686.69   | 0.31%             | 2035-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| JPMorgan Chase & Co                                       | JPMorgan Chase & Co                                                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     15684 | NS      | $4947204.12   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC                                          | T-Mobile USA Inc                                                                | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    559000 | PA      | $548148.99    | 0.09%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SharkNinja Inc                                            | SharkNinja Inc                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |       934 | NS      | $96342.10     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                            | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     45164 | NS      | $9916659.48   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                                     | Schneider Electric SE                                                           | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |      2671 | NS      | $754038.04    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| HP Inc                                                    | HP Inc                                                                          | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      2634 | NS      | $71723.82     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Morgan Stanley & Co. International PLC                    | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $58214.51     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CareTrust REIT Inc                                        | CareTrust REIT Inc                                                              | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |      4243 | NS      | $147147.24    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                                               | Equinor ASA                                                                     | CUSIP: 000000000<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |      3987 | NS      | $97521.82     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                                  | Infineon Technologies AG                                                        | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |      2636 | NS      | $102887.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BROADSTONE NET LEASE LLC                                  | Broadstone Net Lease LLC                                                        | CUSIP: 11134GAA8<br>LEI: 54930089IBT6J4WBTI50 | Long             | DBT              |  | US        |    330000 | PA      | $328029.08    | 0.05%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp                  | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |       230 | NS      | $46108.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB INA HOLDINGS LLC                                    | Chubb INA Holdings LLC                                                          | CUSIP: 171239AM8<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |   1118000 | PA      | $1124646.01   | 0.19%             | 2035-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Recordati Industria Chimica e Farmaceutica SpA            | Recordati Industria Chimica e Farmaceutica SpA                                  | CUSIP: 000000000<br>LEI: 815600FBF92FD3531704 | Long             | EC               | CORP              | IT        |      1366 | NS      | $82972.99     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Telenor ASA                                               | Telenor ASA                                                                     | CUSIP: 000000000<br>LEI: 549300IM1QSBY4SLPM26 | Long             | EC               | CORP              | NO        |      2721 | NS      | $45153.40     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Loews Corp                                                | Loews Corp                                                                      | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |       958 | NS      | $96173.62     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Obayashi Corp                                             | Obayashi Corp                                                                   | CUSIP: 000000000<br>LEI: 529900YT4O5S0LCXWD54 | Long             | EC               | CORP              | JP        |      6100 | NS      | $100092.25    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Yusen KK                                           | Nippon Yusen KK                                                                 | CUSIP: 000000000<br>LEI: 353800YPW4XM0ZN5I149 | Long             | EC               | CORP              | JP        |      1300 | NS      | $44353.71     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                    | Motorola Solutions Inc                                                          | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1536 | NS      | $702397.44    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                                           | Fair Isaac Corp                                                                 | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |        59 | NS      | $88295.27     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fast Retailing Co Ltd                                     | Fast Retailing Co Ltd                                                           | CUSIP: 000000000<br>LEI: 353800ZCXKHDPY0N5218 | Long             | EC               | CORP              | JP        |       200 | NS      | $60733.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TRACTOR SUPPLY CO                                         | Tractor Supply Co                                                               | CUSIP: 892356AA4<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    632000 | PA      | $555631.33    | 0.09%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                               | Equinix Inc                                                                     | CUSIP: 29444UBU9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    940000 | PA      | $901643.34    | 0.15%             | 2032-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| Coinbase Global Inc                                       | Coinbase Global Inc                                                             | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |       873 | NS      | $294628.77    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                                    | IDEXX Laboratories Inc                                                          | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      1136 | NS      | $725779.04    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Coles Group Ltd                                           | Coles Group Ltd                                                                 | CUSIP: 000000000<br>LEI: 549300OHQRG2HN8LZ793 | Long             | EC               | CORP              | AU        |      3066 | NS      | $47345.03     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Konecranes Oyj                                            | Konecranes Oyj                                                                  | CUSIP: 000000000<br>LEI: 549300EF0CDEQZBMA096 | Long             | EC               | CORP              | FI        |       886 | NS      | $73393.69     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL, LONDON                                  | BANK OF MONTREAL, LONDON                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1999997 | PA      | $1999997.00   | 0.33%             | 2026-05-14      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                                 | ONEOK Inc                                                                       | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |       679 | NS      | $49546.63     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc                                  | Baxter International Inc                                                        | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      1354 | NS      | $30830.58     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                                   | Bristol-Myers Squibb Co                                                         | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     18675 | NS      | $842242.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                  | Capital One Financial Corp                                                      | CUSIP: 254709AS7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1425000 | PA      | $1572099.06   | 0.26%             | 2032-11-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| American Express Co                                       | American Express Co                                                             | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      5312 | NS      | $1764433.92   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Global Markets Ltd                              | Citigroup Global Markets Ltd                                                    | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | Long             | RA               | CORP              | US        |   1200000 | PA      | $1200000.00   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| STELLANTIS FINANCIAL SER                                  | Stellantis Financial Services US Corp                                           | CUSIP: 85855FAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    751000 | PA      | $752574.34    | 0.12%             | 2030-09-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                    | Mercedes-Benz Group AG                                                          | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |      1450 | NS      | $91107.55     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Pacific Kansas City Ltd                          | Canadian Pacific Kansas City Ltd                                                | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      2779 | NS      | $206972.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                                | Capital One Financial Corp                                                      | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      2761 | NS      | $586933.38    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Inc                       | Public Service Enterprise Group Inc                                             | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |       537 | NS      | $44818.02     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| American International Group Inc                          | American International Group Inc                                                | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      1324 | NS      | $103986.96    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY INC                                              | Tapestry Inc                                                                    | CUSIP: 876030AA5<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |    600000 | PA      | $544878.93    | 0.09%             | 2032-03-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: —       |
| Investor AB                                               | Investor AB                                                                     | CUSIP: 000000000<br>LEI: 549300VEBQPHRZBKUX38 | Long             | EC               | CORP              | SE        |      2758 | NS      | $86634.32     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fastenal Co                                               | Fastenal Co                                                                     | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     11791 | NS      | $578230.64    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Loblaw Cos Ltd                                            | Loblaw Cos Ltd                                                                  | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |      8863 | NS      | $342814.75    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                                              | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     19161 | NS      | $368629.07    | 0.06%             |  |  |  | No            |                  2 | On Loan: —       |
| Kirin Holdings Co Ltd                                     | Kirin Holdings Co Ltd                                                           | CUSIP: 000000000<br>LEI: 353800GBVL72LLMTYM96 | Long             | EC               | CORP              | JP        |      4100 | NS      | $60118.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                                            | Eaton Corp PLC                                                                  | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      1859 | NS      | $695730.75    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                                       | Gilead Sciences Inc                                                             | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      4043 | NS      | $448773.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL                                    | American International Group Inc                                                | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    533000 | PA      | $555229.99    | 0.09%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| Mitsubishi Corp                                           | Mitsubishi Corp                                                                 | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |     14900 | NS      | $355183.78    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                   | Dell International LLC / EMC Corp                                               | CUSIP: 24703DBU4<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   1156000 | PA      | $1149552.03   | 0.19%             | 2036-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                                            | ConocoPhillips                                                                  | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      9642 | NS      | $912036.78    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                                              | ING Groep NV                                                                    | CUSIP: 456837BR3<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1298000 | PA      | $1329453.69   | 0.22%             | 2031-03-25      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                                               | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |     64833 | NS      | $915102.17    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                                  | Piedmont Operating Partnership LP                                               | CUSIP: 720198AE0<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |    750000 | PA      | $681553.46    | 0.11%             | 2030-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Brighthouse Funds Trust I

**Signature:** Alan Otis

**Name of Signer:** Alan Otis

**Title:** Treasurer