Brighthouse Funds Trust I

Schedule of Investments June 30, 2021 Brighthouse Funds Trust I Table of Contents

Schedule of Investments as of June 30, 2021 AB Global Dynamic Allocation Portfolio ...... BHFTI-1 AB International Bond Portfolio ...... BHFTI-28 American Funds Balanced Allocation Portfolio ...... BHFTI-43 American Funds Growth Allocation Portfolio ...... BHFTI-44 American Funds Growth Portfolio ...... BHFTI-45 American Funds Moderate Allocation Portfolio ...... BHFTI-46 AQR Global Risk Balanced Portfolio ...... BHFTI-47 Brighthouse/Aberdeen Emerging Markets Equity Portfolio ...... BHFTI-53 Brighthouse/Artisan International Portfolio ...... BHFTI-57 Brighthouse/Eaton Vance Floating Rate Portfolio ...... BHFTI-61 Brighthouse/Franklin Low Duration Total Return Portfolio ...... BHFTI-78 Brighthouse/Templeton International Bond Portfolio ...... BHFTI-98 Brighthouse/Wellington Large Cap Research Portfolio ...... BHFTI-105 BlackRock Global Tactical Strategies Portfolio ...... BHFTI-111 BlackRock High Yield Portfolio ...... BHFTI-116 Brighthouse Asset Allocation 100 Portfolio ...... BHFTI-146 Brighthouse Balanced Plus Portfolio ...... BHFTI-147 Brighthouse Small Cap Value Portfolio ...... BHFTI-151 Clarion Global Real Estate Portfolio ...... BHFTI-157 Harris Oakmark International Portfolio ...... BHFTI-161 Invesco Balanced-Risk Allocation Portfolio ...... BHFTI-165 Invesco Comstock Portfolio ...... BHFTI-170 Invesco Global Equity Portfolio ...... BHFTI-174 Invesco Small Cap Growth Portfolio ...... BHFTI-178 JPMorgan Core Bond Portfolio ...... BHFTI-184 JPMorgan Global Active Allocation Portfolio ...... BHFTI-206 JPMorgan Small Cap Value Portfolio ...... BHFTI-238 Loomis Sayles Global Allocation Portfolio ...... BHFTI-247 Loomis Sayles Growth Portfolio ...... BHFTI-260 MetLife Multi-Index Targeted Risk Portfolio ...... BHFTI-263 MFS® Research International Portfolio ...... BHFTI-265 Morgan Stanley Discovery Portfolio ...... BHFTI-269 PanAgora Global Diversified Risk Portfolio ...... BHFTI-274 PIMCO Inflation Protected Bond Portfolio ...... BHFTI-290 PIMCO Total Return Portfolio ...... BHFTI-304 Schroders Global Multi-Asset Portfolio ...... BHFTI-325 SSGA Emerging Markets Enhanced Index Portfolio ...... BHFTI-346 SSGA Growth and Income ETF Portfolio ...... BHFTI-355 SSGA Growth ETF Portfolio ...... BHFTI-358 T. Rowe Price Large Cap Value Portfolio ...... BHFTI-361 T. Rowe Price Mid Cap Growth Portfolio ...... BHFTI-366 TCW Core Fixed Income Portfolio ...... BHFTI-375 Victory Sycamore Mid Cap Value Portfolio ...... BHFTI-385 Wells Capital Management Mid Cap Value Portfolio ...... BHFTI-389 Western Asset Management Government Income Portfolio ...... BHFTI-393

Not all Portfolios are available under every product. Refer to your prospectus for information on the Portfolios that are available. Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—56.7% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.7% Auto Components—(Continued) Airbus SE (a) ...... 36,700 $ 4,726,244 Faurecia SE ...... 7,286 $ 357,836 BAE Systems plc ...... 200,930 1,452,642 Koito Manufacturing Co., Ltd...... 6,467 402,031 Boeing Co. (The) (a) (b) ...... 15,825 3,791,037 Stanley Electric Co., Ltd...... 7,962 230,294 Dassault Aviation S.A...... 158 186,005 Sumitomo Electric Industries, Ltd...... 47,067 694,067 Elbit Systems, Ltd...... 1,660 214,939 Toyota Industries Corp...... 9,150 791,194 General Dynamics Corp...... 6,630 1,248,164 Valeo S.A...... 14,124 425,388 Howmet Aerospace, Inc. (a) ...... 11,150 384,340 11,001,766 Huntington Ingalls Industries, Inc...... 1,142 240,676 L3Harris Technologies, Inc...... 5,910 1,277,446 Automobiles—1.2% Lockheed Martin Corp...... 7,145 2,703,311 Bayerische Motoren Werke AG ...... 20,661 2,188,735 MTU Aero Engines AG ...... 3,329 824,827 Daimler AG ...... 53,408 4,770,952 Northrop Grumman Corp...... 4,425 1,608,178 Ferrari NV ...... 7,866 1,623,740 Raytheon Technologies Corp...... 43,735 3,731,033 Ford Motor Co. (a) ...... 112,495 1,671,676 Rolls-Royce Holdings plc (a) ...... 522,163 716,350 General Motors Co. (a) ...... 36,413 2,154,557 Safran S.A...... 21,329 2,959,279 Honda Motor Co., Ltd...... 101,734 3,261,542 Singapore Technologies Engineering, Ltd...... 97,426 281,164 Isuzu Motors, Ltd...... 34,413 456,443 Teledyne Technologies, Inc. (a) ...... 1,382 578,823 Mazda Motor Corp. (a) ...... 35,484 333,292 Textron, Inc...... 6,480 445,630 Nissan Motor Co., Ltd. (a) ...... 144,862 718,566 Thales S.A...... 6,657 679,578 Renault S.A. (a) ...... 11,873 480,016 TransDigm Group, Inc. (a) ...... 1,602 1,036,959 Stellantis NV ...... 62,990 1,235,710 29,086,625 Stellantis NV (Milan-Traded Shares) ...... 63,560 1,254,017 Subaru Corp...... 38,399 757,211 Air Freight & Logistics—0.4% Suzuki Motor Corp...... 22,984 972,148 C.H. Robinson Worldwide, Inc...... 3,760 352,199 Tesla, Inc. (a) (b) ...... 22,100 15,021,370 Deutsche Post AG ...... 61,856 4,208,741 Toyota Motor Corp...... 132,353 11,554,101 DSV Panalpina A/S ...... 12,918 3,011,904 Volkswagen AG ...... 2,026 665,056 Expeditors International of Washington, Inc...... 4,805 608,313 Yamaha Motor Co., Ltd. (b) ...... 17,478 474,886 FedEx Corp...... 7,010 2,091,293 49,594,018 InPost S.A. (a) ...... 12,480 250,732 SG Holdings Co., Ltd...... 19,981 523,792 Banks—3.3% United Parcel Service, Inc. - Class B ...... 20,700 4,304,979 ABN AMRO Bank NV (a) ...... 26,396 318,635 Yamato Holdings Co., Ltd...... 18,186 517,140 Australia & New Zealand Banking Group, Ltd...... 177,570 3,740,454 15,869,093 Banco Bilbao Vizcaya Argentaria S.A...... 416,096 2,588,679 Banco Espirito Santo S.A. (a) (c) (d) ...... 169,954 0 Airlines—0.1% Banco Santander S.A...... 1,082,108 4,125,729 Alaska Air Group, Inc. (a) ...... 3,503 211,266 Bank Hapoalim B.M. (a) ...... 70,859 568,749 American Airlines Group, Inc. (a) (b) ...... 18,321 388,589 Bank Leumi Le-Israel B.M. (a) ...... 90,665 688,741 ANA Holdings, Inc. (a) ...... 9,973 234,384 Corp...... 218,638 9,014,445 Delta Air Lines, Inc. (a) ...... 18,351 793,864 Bank of East Asia, Ltd. (The) ...... 80,169 148,618 Deutsche Lufthansa AG (a) (b) ...... 18,267 205,590 Banque Cantonale Vaudoise ...... 1,835 164,826 Japan Airlines Co., Ltd. (a) ...... 9,002 194,762 Barclays plc ...... 1,083,367 2,569,451 Qantas Airways, Ltd. (a) ...... 57,670 202,195 BNP Paribas S.A...... 70,192 4,395,710 Singapore Airlines, Ltd. (a) ...... 81,018 292,705 BOC Hong Kong Holdings, Ltd...... 230,920 782,722 Southwest Airlines Co. (a) ...... 16,985 901,734 CaixaBank S.A...... 277,405 852,402 United Airlines Holdings, Inc. (a) (b) ...... 9,091 475,368 Chiba Bank, Ltd. (The) ...... 32,399 195,034 3,900,457 Citigroup, Inc...... 60,071 4,250,023 Citizens Financial Group, Inc...... 12,154 557,504 Auto Components—0.3% Comerica, Inc...... 3,955 282,150 Aisin Corp...... 9,194 392,986 Commerzbank AG (a) ...... 62,520 443,582 Aptiv plc (a) ...... 7,721 1,214,745 Commonwealth Bank of Australia ...... 110,709 8,279,160 BorgWarner, Inc. (b) ...... 6,840 332,014 Concordia Financial Group, Ltd...... 67,935 247,914 Bridgestone Corp. (b) ...... 35,629 1,620,508 Credit Agricole S.A...... 72,804 1,018,920 Cie Generale des Etablissements Michelin SCA ...... 10,572 1,687,318 Danske Bank A/S ...... 43,042 756,679 Continental AG (a) ...... 6,864 1,009,373 DBS Group Holdings, Ltd...... 112,519 2,496,906 Denso Corp...... 27,043 1,844,012 DNBASA ...... 58,002 1,263,328 Erste Group Bank AG ...... 17,433 639,045 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-1 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Banks—(Continued) Beverages—(Continued) Fifth Third Bancorp ...... 20,435 $ 781,230 Davide Campari-Milano NV ...... 32,619 $ 437,528 FinecoBank Banca Fineco S.p.A. (a) ...... 38,038 664,695 Diageo plc ...... 146,005 6,997,071 First Republic Bank ...... 5,001 936,037 EDP Renovaveis S.A...... 17,982 416,692 Hang Seng Bank, Ltd...... 47,721 952,709 Heineken Holding NV ...... 7,189 724,255 HSBC Holdings plc ...... 1,271,074 7,335,115 Heineken NV ...... 16,175 1,960,879 , Inc...... 29,255 417,469 Ito En, Ltd...... 3,334 197,729 ING Groep NV ...... 243,413 3,220,272 Kirin Holdings Co., Ltd. (b) ...... 51,332 1,000,596 Intesa Sanpaolo S.p.A...... 1,030,641 2,844,626 Molson Coors Beverage Co. - Class B (a) (b) ...... 5,405 290,194 Israel Discount Bank, Ltd. - Class A (a) ...... 72,638 345,899 Monster Beverage Corp. (a) ...... 10,640 971,964 Japan Post Bank Co., Ltd...... 24,754 207,341 PepsiCo, Inc...... 39,725 5,886,053 JPMorgan Chase & Co...... 87,800 13,656,412 Pernod Ricard S.A...... 13,074 2,901,885 KBC Group NV ...... 15,601 1,188,376 Remy Cointreau S.A...... 1,432 295,773 KeyCorp ...... 27,820 574,483 Suntory Beverage & Food, Ltd. (b) ...... 8,677 325,660 Lloyds Banking Group plc ...... 4,421,830 2,860,526 Treasury Wine Estates, Ltd...... 45,020 394,265 M&T Bank Corp...... 3,695 536,920 37,872,999 Mediobanca Banca di Credito Finanziario S.p.A. (a) ...... 38,756 452,311 Mitsubishi UFJ Financial Group, Inc...... 762,802 4,117,877 Biotechnology—0.7% Mizrahi Tefahot Bank, Ltd. (a) ...... 8,754 269,546 AbbVie, Inc...... 50,814 5,723,689 Mizuho Financial Group, Inc...... 150,534 2,121,117 Alexion Pharmaceuticals, Inc. (a) ...... 6,300 1,157,373 National Australia Bank, Ltd...... 205,751 4,038,388 Amgen, Inc...... 16,669 4,063,069 Natwest Group plc ...... 303,882 853,873 Argenx SE (a) ...... 2,861 861,902 Nordea Bank Abp ...... 202,183 2,249,643 Biogen, Inc. (a) ...... 4,430 1,533,976 Oversea-Chinese Banking Corp., Ltd...... 209,491 1,863,148 CSL, Ltd...... 28,394 6,074,263 People’s United Financial, Inc...... 12,195 209,022 Genmab A/S (a) ...... 4,091 1,668,645 PNC Financial Services Group, Inc. (The) ...... 12,235 2,333,949 Gilead Sciences, Inc...... 36,143 2,488,807 Raiffeisen Bank International AG ...... 9,047 204,704 Grifols S.A...... 18,614 504,283 Regions Financial Corp. (b) ...... 27,615 557,271 Incyte Corp. (a) ...... 5,333 448,665 Resona Holdings, Inc...... 133,244 510,798 PeptiDream, Inc. (a) ...... 5,977 293,111 Shizuoka Bank, Ltd. (The) ...... 27,853 214,541 Regeneron Pharmaceuticals, Inc. (a) ...... 3,064 1,711,366 Skandinaviska Enskilda Banken AB - Class A ...... 101,561 1,311,124 Vertex Pharmaceuticals, Inc. (a) ...... 7,467 1,505,571 Societe Generale S.A...... 50,590 1,489,710 Standard Chartered plc ...... 167,412 1,066,668 28,034,720 Sumitomo Mitsui Financial Group, Inc...... 81,457 2,803,321 Sumitomo Mitsui Trust Holdings, Inc...... 21,077 667,115 Building Products—0.4% SVB Financial Group (a) ...... 1,525 848,556 A.O. Smith Corp. (b) ...... 3,860 278,152 Svenska Handelsbanken AB - A Shares ...... 91,020 1,026,502 AGC, Inc. (b) ...... 12,064 506,399 Swedbank AB - A Shares ...... 56,512 1,050,805 Allegion plc ...... 2,601 362,319 Corp...... 38,717 2,148,794 Assa Abloy AB - Class B ...... 62,546 1,884,442 U.S. Bancorp ...... 39,335 2,240,915 Carrier Global Corp...... 23,452 1,139,767 UniCredit S.p.A...... 132,631 1,563,034 Cie de Saint-Gobain ...... 31,579 2,082,097 United Overseas Bank, Ltd...... 73,557 1,414,533 Daikin Industries, Ltd...... 15,548 2,894,275 Wells Fargo & Co. (e) ...... 119,007 5,389,827 Fortune Brands Home & Security, Inc...... 3,927 391,168 Westpac Banking Corp...... 228,931 4,411,500 Geberit AG ...... 2,312 1,734,859 Zions Bancorp N.A...... 4,660 246,328 Johnson Controls International plc ...... 20,684 1,419,543 Kingspan Group plc ...... 9,633 909,926 134,586,436 Lixil Corp...... 16,619 429,613 Masco Corp...... 7,375 434,461 Beverages—0.9% Nibe Industrier AB - B Shares ...... 88,958 936,353 Anheuser-Busch InBev S.A...... 47,548 3,424,134 Rockwool International A/S - B Shares ...... 537 262,058 Asahi Group Holdings, Ltd. (b) ...... 28,474 1,329,950 TOTO, Ltd...... 8,744 452,356 Brown-Forman Corp. - Class B ...... 5,217 390,962 Trane Technologies plc ...... 6,865 1,264,121 Budweiser Brewing Co. APAC, Ltd...... 107,435 338,161 Xinyi Glass Holdings, Ltd...... 113,434 462,397 Carlsberg AS - Class B ...... 6,428 1,200,027 Coca-Cola Co. (The) (e) ...... 111,610 6,039,217 17,844,306 Coca-Cola Europacific Partners plc ...... 12,771 757,576 Coca-Cola HBC AG ...... 12,504 452,214 Capital Markets—1.5% Constellation Brands, Inc. - Class A ...... 4,875 1,140,214 3i Group plc ...... 60,728 987,094 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-2 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Capital Markets—(Continued) Chemicals—(Continued) Ameriprise Financial, Inc...... 3,315 $ 825,037 Chr Hansen Holding A/S ...... 6,582 $ 594,129 Amundi S.A...... 3,769 332,054 Clariant AG ...... 12,173 242,116 ASX, Ltd...... 12,080 704,174 Corteva, Inc...... 21,374 947,937 Bank of New York Mellon Corp. (The) ...... 23,185 1,187,768 Covestro AG ...... 12,056 778,749 BlackRock, Inc...... 4,140 3,622,376 Croda International plc ...... 8,706 888,045 Cboe Global Markets, Inc...... 3,017 359,174 Dow, Inc...... 21,374 1,352,547 Charles Schwab Corp. (The) ...... 42,996 3,130,539 DuPont de Nemours, Inc...... 15,413 1,193,120 CME Group, Inc...... 10,285 2,187,414 Eastman Chemical Co...... 3,880 452,990 Credit Suisse Group AG ...... 152,746 1,598,674 Ecolab, Inc...... 7,145 1,471,656 Daiwa Securities Group, Inc...... 90,139 493,310 EMS-Chemie Holding AG ...... 438 430,369 Deutsche Bank AG (a) ...... 128,972 1,680,043 Evonik Industries AG ...... 13,085 438,788 Deutsche Boerse AG ...... 11,857 2,069,655 FMC Corp...... 3,640 393,848 EQTAB...... 14,867 539,839 Givaudan S.A...... 577 2,683,653 Franklin Resources, Inc...... 7,841 250,834 ICL Group, Ltd...... 43,957 298,204 Futu Holdings, Ltd. (ADR) (a) ...... 3,124 559,477 International Flavors & Fragrances, Inc...... 7,172 1,071,497 Goldman Sachs Group, Inc. (The) ...... 9,950 3,776,323 Johnson Matthey plc ...... 12,077 514,130 Hargreaves Lansdown plc ...... 22,199 488,241 JSR Corp...... 12,699 383,924 Hong Kong Exchanges & Clearing, Ltd...... 75,161 4,480,057 Kansai Paint Co., Ltd...... 11,058 281,688 Intercontinental Exchange, Inc...... 16,080 1,908,696 Koninklijke DSM NV ...... 10,755 2,007,854 Invesco, Ltd...... 10,820 289,219 LANXESS AG ...... 5,150 353,157 Japan Exchange Group, Inc...... 31,796 706,736 Linde plc ...... 15,037 4,347,197 Julius Baer Group, Ltd...... 13,966 910,873 LyondellBasell Industries NV - Class A ...... 7,371 758,255 Stock Exchange Group plc ...... 20,261 2,234,745 Mitsubishi Chemical Holdings Corp...... 79,897 669,700 Macquarie Group, Ltd...... 21,450 2,515,837 Mitsubishi Gas Chemical Co., Inc...... 9,658 204,702 Magellan Financial Group, Ltd...... 8,601 347,523 Mitsui Chemicals, Inc...... 11,491 395,619 MarketAxess Holdings, Inc...... 1,154 534,983 Mosaic Co. (The) ...... 9,880 315,271 Moody’s Corp...... 4,625 1,675,961 Nippon Paint Holdings Co., Ltd. (b) ...... 44,378 602,015 Morgan Stanley ...... 43,112 3,952,939 Nippon Sanso Holdings Corp...... 9,264 189,790 MSCI, Inc...... 2,390 1,274,061 Nissan Chemical Corp...... 7,691 376,418 Nasdaq, Inc. (b) ...... 3,270 574,866 Nitto Denko Corp...... 9,411 701,892 Natixis S.A...... 59,082 280,149 Novozymes A/S - B Shares ...... 12,987 980,097 Nomura Holdings, Inc...... 191,288 971,684 Orica, Ltd...... 25,393 253,015 Corp...... 5,990 692,564 PPG Industries, Inc...... 6,790 1,152,738 Partners Group Holding AG ...... 1,417 2,147,416 Sherwin-Williams Co. (The) ...... 7,080 1,928,946 Raymond James Financial, Inc...... 3,449 448,025 Shin-Etsu Chemical Co., Ltd...... 22,101 3,694,058 S&P Global, Inc. (b) ...... 6,915 2,838,262 Sika AG ...... 8,848 2,893,152 SBI Holdings, Inc...... 15,192 359,216 Solvay S.A...... 4,625 588,844 Schroders plc ...... 7,757 377,433 Sumitomo Chemical Co., Ltd...... 92,974 491,608 Singapore Exchange, Ltd...... 50,155 417,523 Symrise AG ...... 8,028 1,119,154 Toray Industries, Inc...... 86,538 573,798 St. James’s Place plc ...... 33,584 687,287 Tosoh Corp...... 16,228 279,738 Standard Life Aberdeen plc ...... 136,183 510,648 Umicore S.A...... 12,300 751,916 State Street Corp...... 10,090 830,205 Yara International ASA ...... 10,875 572,811 T. Rowe Price Group, Inc...... 6,590 1,304,622 UBS Group AG ...... 228,775 3,502,885 56,315,687 61,566,441 Commercial Services & Supplies—0.2% Brambles, Ltd...... 91,544 785,283 Chemicals—1.4% Cintas Corp...... 2,530 966,460 Air Liquide S.A...... 29,559 5,179,449 Copart, Inc. (a) ...... 5,965 786,366 Air Products & Chemicals, Inc...... 6,345 1,825,330 Dai Nippon Printing Co., Ltd...... 14,163 299,319 Akzo Nobel NV ...... 11,893 1,469,685 Rentokil Initial plc ...... 115,716 792,736 Albemarle Corp...... 3,288 553,896 Republic Services, Inc...... 5,985 658,410 Arkema S.A...... 3,831 480,989 Rollins, Inc...... 6,368 217,786 Asahi Kasei Corp...... 78,287 857,302 Secom Co., Ltd...... 13,102 995,574 BASF SE ...... 57,315 4,516,534 Securitas AB - B Shares ...... 19,539 308,620 Celanese Corp...... 3,295 499,522 Sohgo Security Services Co., Ltd...... 4,365 198,749 CF Industries Holdings, Inc...... 6,100 313,845 TOPPAN, Inc...... 16,367 262,902 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-3 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Commercial Services & Supplies—(Continued) Distributors—0.0% Waste Management, Inc...... 11,135 $ 1,560,125 Genuine Parts Co...... 4,115 $ 520,424 7,832,330 LKQ Corp. (a) ...... 8,032 395,335 Pool Corp...... 1,128 517,369 Communications Equipment—0.3% 1,433,128 Arista Networks, Inc. (a) ...... 1,556 563,754 Cisco Systems, Inc...... 121,500 6,439,500 Diversified Financial Services—0.6% F5 Networks, Inc. (a) ...... 1,785 333,188 Berkshire Hathaway, Inc. - Class B (a) ...... 54,942 15,269,481 Juniper Networks, Inc...... 9,420 257,637 Eurazeo S.E...... 2,464 214,602 Motorola Solutions, Inc...... 4,900 1,062,565 EXOR NV ...... 6,767 541,619 Oyj (a) ...... 336,457 1,801,765 Groupe Bruxelles Lambert S.A...... 7,048 788,313 Telefonaktiebolaget LM Ericsson - B Shares ...... 182,140 2,290,426 Industrivarden AB - A Shares ...... 6,558 255,127 12,748,835 Industrivarden AB - C Shares ...... 9,965 364,740 Investor AB - B Shares ...... 113,694 2,619,166 Construction & Engineering—0.2% Kinnevik AB - B Shares ...... 15,095 604,373 ACS Actividades de Construccion y Servicios S.A...... 14,539 389,395 L E Lundbergforetagen AB - B Shares ...... 4,742 306,009 Bouygues S.A...... 14,256 527,728 M&Gplc...... 162,242 514,684 Eiffage S.A...... 5,179 527,171 Mitsubishi HC Capital, Inc...... 41,192 219,860 Ferrovial S.A...... 30,227 887,328 ORIX Corp...... 76,221 1,282,535 Kajima Corp...... 28,041 355,021 Sofina S.A...... 972 419,457 Obayashi Corp...... 40,521 321,753 Tokyo Century Corp...... 2,303 123,703 Quanta Services, Inc...... 3,885 351,864 Wendel S.E...... 1,683 226,140 Shimizu Corp...... 34,444 263,752 23,749,809 Skanska AB - B Shares ...... 21,228 563,435 Taisei Corp...... 11,910 389,813 Diversified Telecommunication Services—0.8% Vinci S.A...... 33,221 3,547,336 AT&T, Inc. (e) ...... 205,241 5,906,836 8,124,596 BT Group plc (a) ...... 556,981 1,495,878 Cellnex Telecom S.A...... 31,795 2,025,452 Construction Materials—0.2% Deutsche Telekom AG ...... 207,990 4,397,100 CRHplc...... 48,990 2,485,636 Elisa Oyj ...... 8,875 529,549 HeidelbergCement AG ...... 9,286 796,714 HKT Trust & HKT, Ltd...... 236,374 322,094 Holcim, Ltd...... 32,670 1,960,086 Iliad S.A...... 929 136,169 James Hardie Industries plc ...... 27,717 941,371 Infrastrutture Wireless Italiane S.p.A...... 20,626 233,203 Martin Marietta Materials, Inc. (b) ...... 1,812 637,480 Koninklijke KPN NV ...... 209,816 655,483 Vulcan Materials Co...... 3,750 652,762 Lumen Technologies, Inc. (b) ...... 28,413 386,133 Nippon Telegraph & Telephone Corp...... 80,328 2,092,425 7,474,049 Orange S.A...... 124,496 1,419,712 Proximus SADP ...... 9,297 179,636 Consumer Finance—0.2% Singapore Telecommunications, Ltd...... 499,028 847,168 Acom Co., Ltd...... 24,391 106,233 Singapore Telecommunications, Ltd...... 16,253 27,739 American Express Co...... 18,780 3,103,019 Spark New Zealand, Ltd...... 115,562 387,636 Capital One Financial Corp...... 13,165 2,036,494 Swisscom AG ...... 1,617 923,297 Discover Financial Services ...... 8,785 1,039,178 Telecom Italia S.p.A...... 621,793 308,966 Synchrony Financial ...... 15,587 756,282 Telecom Italia S.p.A. - Risparmio Shares ...... 368,425 195,250 7,041,206 Telefonica Deutschland Holding AG ...... 63,632 167,914 Telefonica S.A...... 326,219 1,524,285 Containers & Packaging—0.1% Telenor ASA ...... 42,216 712,338 AMCOR plc ...... 44,951 515,138 Telia Co. AB ...... 165,883 736,372 Avery Dennison Corp. (b) ...... 2,400 504,576 Telstra Corp., Ltd...... 259,762 732,604 Ball Corp...... 9,440 764,829 United Internet AG ...... 5,965 243,940 International Paper Co...... 11,235 688,818 Verizon Communications, Inc. (e) ...... 119,120 6,674,294 Packaging Corp. of America ...... 2,699 365,499 33,261,473 Corp...... 4,395 260,404 Smurfit Kappa Group plc ...... 15,293 829,686 Electric Utilities—0.9% WestRock Co...... 7,495 398,884 Alliant Energy Corp...... 7,144 398,349 4,327,834 American Electric Power Co., Inc...... 14,250 1,205,407 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-4 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Electric Utilities—(Continued) Electronic Equipment, Instruments & Components—0.6% AusNet Services, Ltd...... 118,604 $ 155,354 Amphenol Corp. - Class A ...... 17,240 $ 1,179,389 Chubu Electric Power Co., Inc...... 40,206 490,000 Azbil Corp. (b) ...... 7,701 319,084 CK Infrastructure Holdings, Ltd...... 41,352 246,594 CDW Corp...... 4,056 708,380 CLP Holdings, Ltd...... 102,477 1,012,891 Corning, Inc...... 22,040 901,436 Corp...... 22,115 2,183,193 Halma plc ...... 23,691 883,057 Edison International (b) ...... 10,845 627,058 Hamamatsu Photonics KK ...... 8,754 527,760 EDP - Energias de Portugal S.A...... 173,229 918,882 Hexagon AB - B Shares ...... 122,939 1,822,572 Electricite de France S.A...... 29,016 396,175 Hirose Electric Co., Ltd...... 2,029 296,672 Elia Group S.A...... 1,933 203,960 Ibiden Co., Ltd...... 6,484 349,160 Endesa S.A. (b) ...... 19,820 480,815 IPG Photonics Corp. (a) ...... 981 206,765 Enel S.p.A...... 507,545 4,715,747 Keyence Corp...... 12,142 6,124,956 Entergy Corp...... 5,725 570,783 Keysight Technologies, Inc. (a) ...... 5,330 823,005 Evergy, Inc...... 6,486 391,949 Kyocera Corp...... 20,029 1,237,703 Eversource Energy ...... 9,865 791,568 Murata Manufacturing Co., Ltd...... 35,846 2,735,410 Exelon Corp...... 28,024 1,241,743 Omron Corp...... 11,583 918,064 FirstEnergy Corp...... 15,625 581,406 Shimadzu Corp...... 14,780 571,156 Fortum Oyj ...... 27,716 764,410 TDK Corp...... 8,087 982,547 HK Electric Investments & HK Electric Investments, Ltd...... 162,023 164,229 TE Connectivity, Ltd...... 9,500 1,284,495 Iberdrola S.A...... 360,461 4,392,371 Trimble, Inc. (a) ...... 7,217 590,567 Kansai Electric Power Co., Inc. (The) ...... 43,934 417,588 Venture Corp., Ltd...... 17,262 246,948 Mercury NZ, Ltd...... 41,632 194,050 Yokogawa Electric Corp...... 13,955 206,800 NextEra Energy, Inc. (b) ...... 56,380 4,131,526 Zebra Technologies Corp. - Class A (a) ...... 1,603 848,773 NRG Energy, Inc...... 7,005 282,302 23,764,699 Origin Energy, Ltd...... 109,904 370,149 Orsted A/S ...... 11,805 1,660,764 Energy Equipment & Services—0.1% Pinnacle West Capital Corp...... 3,150 258,206 Baker Hughes Co. (b) ...... 20,925 478,555 Power Assets Holdings, Ltd...... 86,569 531,285 Halliburton Co...... 25,550 590,716 PPL Corp...... 22,115 618,557 NOV, Inc. (a) ...... 11,105 170,129 Red Electrica Corp. S.A. (b) ...... 27,012 501,330 Schlumberger NV ...... 40,237 1,287,986 Southern Co. (The) ...... 30,395 1,839,201 Tenaris S.A...... 29,467 322,667 SSEplc...... 65,034 1,351,054 Terna SPA. (b) ...... 87,800 654,181 2,850,053 Tohoku Electric Power Co., Inc...... 26,126 204,568 Tokyo Electric Power Co. Holdings, Inc. (a) ...... 95,268 282,910 Entertainment—0.7% Verbund AG ...... 4,236 389,931 Activision Blizzard, Inc...... 22,304 2,128,694 Xcel Energy, Inc...... 15,410 1,015,211 Bollore S.A...... 55,155 295,769 Capcom Co., Ltd...... 10,987 321,515 36,635,697 Electronic Arts, Inc...... 8,280 1,190,912 Embracer Group AB (a) ...... 16,003 433,006 Electrical Equipment—0.6% Koei Tecmo Holdings Co., Ltd...... 3,610 176,201 ABB, Ltd...... 108,239 3,674,117 Konami Holdings Corp. (b) ...... 5,820 349,237 AMETEK, Inc...... 6,567 876,694 Live Nation Entertainment, Inc. (a) ...... 4,042 354,039 Eaton Corp. plc ...... 11,438 1,694,883 Netflix, Inc. (a) ...... 12,781 6,751,052 Emerson Electric Co...... 17,195 1,654,847 Nexon Co., Ltd. (b) ...... 30,449 678,822 Fuji Electric Co., Ltd...... 7,919 369,771 Co., Ltd...... 6,984 4,063,571 Generac Holdings, Inc. (a) ...... 1,839 763,461 Sea, Ltd. (ADR) (a) (b) ...... 860 236,156 Legrand S.A...... 16,388 1,735,553 Square Enix Holdings Co., Ltd...... 5,352 265,531 Mitsubishi Electric Corp...... 113,893 1,650,126 Take-Two Interactive Software, Inc. (a) ...... 3,327 588,946 Nidec Corp...... 27,907 3,232,197 Toho Co., Ltd...... 6,982 287,765 Prysmian S.p.A...... 15,896 570,143 UBISOFT Entertainment S.A. (a) ...... 5,779 404,624 Rockwell Automation, Inc. (b) ...... 3,345 956,737 Vivendi SE (b) ...... 44,405 1,491,927 Schneider Electric SE ...... 33,617 5,291,804 Walt Disney Co. (The) (a) ...... 52,271 9,187,674 Siemens Energy AG (a) ...... 24,939 751,918 Siemens Gamesa Renewable Energy S.A. (a) ...... 14,876 496,647 29,205,441 Vestas Wind Systems A/S ...... 63,018 2,469,487 Equity Real Estate Investment Trusts—5.1% 26,188,385 Aberdeen Standard European Logistics Income plc ...... 27,200 44,705

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-5 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Equity Real Estate Investment Trusts—(Continued) Equity Real Estate Investment Trusts—(Continued) Acadia Realty Trust ...... 9,155 $ 201,044 CoreSite Realty Corp...... 4,650 $ 625,890 Activia Properties, Inc...... 75 355,157 Corporate Office Properties Trust ...... 12,200 341,478 Advance Residence Investment Corp...... 141 469,530 Cousins Properties, Inc...... 16,109 592,489 Aedifica S.A...... 3,942 519,530 Covivio ...... 8,664 741,220 AEON REIT Investment Corp...... 169 250,272 Crombie Real Estate Investment Trust ...... 10,050 143,826 Agree Realty Corp...... 7,250 511,052 Cromwell Property Group ...... 154,507 101,407 Alexander’s, Inc...... 234 62,700 Crown Castle International Corp...... 12,410 2,421,191 Alexandria Real Estate Equities, Inc...... 19,591 3,564,387 CubeSmart ...... 21,827 1,011,027 Allied Properties Real Estate Investment Trust (b) ...... 13,720 498,617 Custodian REIT plc ...... 42,213 56,828 Alstria Office REIT-AG ...... 19,350 357,783 CyrusOne, Inc. (b) ...... 13,300 951,216 American Assets Trust, Inc. (b) ...... 5,350 199,501 Daiwa House REIT Investment Corp...... 344 1,014,235 American Campus Communities, Inc...... 14,877 695,053 Daiwa Office Investment Corp...... 30 208,765 American Finance Trust, Inc...... 11,800 100,064 Daiwa Securities Living Investments Corp...... 212 230,548 American Homes 4 Rent - Class A ...... 30,224 1,174,202 Derwent London plc ...... 11,000 503,482 American Tower Corp...... 12,745 3,442,934 Dexus ...... 185,130 1,475,874 Americold Realty Trust (b) ...... 27,458 1,039,285 DiamondRock Hospitality Co. (a) ...... 22,600 219,220 Apartment Income REIT Corp...... 16,966 804,697 Digital Realty Trust, Inc...... 38,639 5,813,624 Apartment Investment & Management Co. - Class A ...... 16,066 107,803 DigitalBridge Group, Inc. (a) (b) ...... 53,600 423,440 Apple Hospitality REIT, Inc...... 22,700 346,402 Diversified Healthcare Trust ...... 25,650 107,217 Armada Hoffler Properties, Inc...... 6,450 85,720 Douglas Emmett, Inc. (b) ...... 18,090 608,186 Artis Real Estate Investment Trust ...... 11,400 103,093 Dream Industrial Real Estate Investment Trust ...... 19,500 240,368 Ascencio ...... 550 31,402 Dream Office Real Estate Investment Trust ...... 4,050 75,015 Ascendas Real Estate Investment Trust ...... 556,724 1,223,460 Duke Realty Corp...... 51,426 2,435,021 Ascott Residence Trust ...... 195,500 145,512 Easterly Government Properties, Inc...... 9,075 191,301 Assura plc ...... 286,495 292,673 EastGroup Properties, Inc...... 4,329 711,904 AvalonBay Communities, Inc...... 19,188 4,004,344 Empire State Realty Trust, Inc. - Class A ...... 15,429 185,148 Befimmo S.A...... 2,300 91,377 Empiric Student Property plc (a) ...... 63,903 76,105 Big Yellow Group plc ...... 17,600 318,317 EPR Properties (a) ...... 8,047 423,916 BMO Commercial Property Trust, Ltd...... 57,369 71,905 , Inc...... 7,517 6,033,144 BMO Real Estate Investment, Ltd...... 26,142 25,692 Equity Commonwealth ...... 12,650 331,430 Boardwalk Real Estate Investment Trust (b) ...... 4,150 136,860 Equity LifeStyle Properties, Inc...... 18,916 1,405,648 Boston Properties, Inc...... 21,012 2,407,765 Equity Residential ...... 49,883 3,840,991 Brandywine Realty Trust ...... 18,326 251,249 Essential Properties Realty Trust, Inc...... 12,650 342,056 British Land Co. plc (The) ...... 155,693 1,067,499 Essex Property Trust, Inc...... 8,999 2,699,790 Brixmor Property Group, Inc...... 32,177 736,532 Eurocommercial Properties NV ...... 5,700 141,851 Broadstone Net Lease, Inc. (b) ...... 15,350 359,343 Extra Space Storage, Inc...... 18,044 2,955,968 Brookfield Property REIT, Inc. - Class A ...... 3,474 65,624 Federal Realty Investment Trust (b) ...... 10,341 1,211,655 BWP Trust ...... 53,018 168,917 First Capital Real Estate Investment Trust (b) ...... 23,550 334,366 Camden Property Trust ...... 10,266 1,361,990 First Industrial Realty Trust, Inc...... 14,000 731,220 Canadian Apartment Properties (b) ...... 18,650 874,426 Fortune Real Estate Investment Trust ...... 147,980 158,571 Capital & Counties Properties plc (a) ...... 80,103 178,374 Four Corners Property Trust, Inc...... 8,200 226,402 CapitaLand Integrated Commercial Trust ...... 758,738 1,179,018 Franklin Street Properties Corp...... 11,150 58,649 CareTrust REIT, Inc...... 10,400 241,592 Frasers Centrepoint Trust ...... 117,350 212,187 Carmila S.A...... 4,200 57,588 Frasers Logistics & Industrial Trust ...... 287,200 308,136 CDL Hospitality Trusts ...... 86,582 79,298 Frontier Real Estate Investment Corp. (b) ...... 50 233,557 Centerspace (b) ...... 1,441 113,695 Fukuoka REIT Corp...... 78 131,276 Centuria Industrial REIT ...... 49,700 138,176 Gaming and Leisure Properties, Inc...... 23,960 1,110,067 Champion REIT ...... 216,006 121,529 GCP Student Living plc ...... 49,604 110,499 Charter Hall Long Wale REIT ...... 59,986 212,932 Gecina S.A...... 8,492 1,301,456 Charter Hall REIT ...... 52,823 150,025 Getty Realty Corp...... 4,265 132,855 Choice Properties Real Estate Investment Trust ...... 27,818 320,683 Global Net Lease, Inc...... 10,350 191,475 Civitas Social Housing plc ...... 67,800 108,264 Global One Real Estate Investment Corp...... 104 117,351 Cofinimmo S.A...... 3,245 494,108 GLP J-REIT ...... 705 1,216,288 Columbia Property Trust, Inc...... 12,350 214,766 Goodman Group ...... 103,756 1,639,350 Comforia Residential REIT, Inc...... 69 217,362 Goodman Property Trust ...... 119,000 191,721 Cominar Real Estate Investment Trust (b) ...... 18,131 159,868 GPT Group (The) ...... 334,036 1,223,271 Community Healthcare Trust, Inc...... 2,500 118,650 Granite Real Estate Investment Trust (b) ...... 6,300 419,187 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-6 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Equity Real Estate Investment Trusts—(Continued) Equity Real Estate Investment Trusts—(Continued) Great Portland Estates plc ...... 27,630 $ 271,392 LTC Properties, Inc. (b) ...... 4,150 $ 159,318 H&R Real Estate Investment Trust ...... 30,565 394,514 LXI REIT plc ...... 67,702 124,734 Hamborner REIT AG ...... 7,650 81,451 Macerich Co. (The) (b) ...... 21,360 389,820 Hammerson plc ...... 442,175 228,352 Mack-Cali Realty Corp. (b) ...... 9,457 162,188 Healthcare Realty Trust, Inc...... 15,310 462,362 Manulife US Real Estate Investment Trust ...... 157,100 124,156 Healthcare Trust of America, Inc. - Class A ...... 23,675 632,122 Mapletree Commercial Trust ...... 370,375 595,703 Healthpeak Properties, Inc...... 74,092 2,466,523 Mapletree Industrial Trust ...... 193,312 407,116 Heiwa Real Estate REIT, Inc...... 94 148,096 Mapletree Logistics Trust ...... 499,843 763,092 Hibernia REIT plc ...... 72,216 106,198 Medical Properties Trust, Inc...... 63,016 1,266,622 Highwoods Properties, Inc. (b) ...... 11,150 503,645 Mercialys S.A...... 6,650 80,547 Hoshino Resorts REIT, Inc...... 24 145,793 Merlin Properties Socimi S.A...... 36,138 374,309 Host Hotels & Resorts, Inc. (a) (b) ...... 96,330 1,646,280 Mid-America Apartment Communities, Inc...... 15,653 2,636,278 Hudson Pacific Properties, Inc...... 15,963 444,091 Mirvac Group ...... 674,788 1,470,919 Hulic REIT, Inc...... 129 217,239 Mitsubishi Estate Logistics REIT Investment Corp...... 41 181,607 Icade ...... 3,485 300,054 Mitsui Fudosan Logistics Park, Inc...... 55 293,116 Ichigo Office REIT Investment Corp...... 127 112,924 Monmouth Real Estate Investment Corp. (b) ...... 10,250 191,880 Immobiliare Grande Distribuzione SIIQ S.p.A...... 7,109 34,288 Montea NV ...... 1,350 158,787 Impact Healthcare Reit plc ...... 28,200 43,369 Mori Hills REIT Investment Corp...... 171 256,418 Independence Realty Trust, Inc...... 11,000 200,530 Mori Trust Sogo REIT, Inc...... 107 151,465 Industrial & Infrastructure Fund Investment Corp...... 206 392,977 National Health Investors, Inc...... 4,700 315,135 Industrial Logistics Properties Trust (b) ...... 7,000 182,980 National Retail Properties, Inc...... 18,966 889,126 Ingenia Communities Group ...... 32,350 148,406 National Storage Affiliates Trust ...... 7,550 381,728 Inmobiliaria Colonial Socimi S.A...... 35,234 355,584 National Storage REIT ...... 127,544 189,447 Innovative Industrial Properties, Inc...... 2,600 496,652 NewRiver REIT plc (a) ...... 32,911 39,310 InterRent Real Estate Investment Trust ...... 14,000 190,416 NexPoint Residential Trust, Inc. (b) ...... 2,400 131,952 Intervest Offices & Warehouses NV ...... 2,450 66,375 Nippon Accommodations Fund, Inc...... 51 294,302 Invesco Office J-REIT, Inc. (b) ...... 936 190,289 Nippon Building Fund, Inc. (b) ...... 255 1,590,440 Invincible Investment Corp...... 532 204,987 Nippon Prologis REIT, Inc...... 371 1,180,614 Invitation Homes, Inc...... 61,778 2,303,702 NIPPON REIT Investment Corp. (b) ...... 47 193,102 Irish Residential Properties REIT plc ...... 48,247 87,088 Nomura Real Estate Master Fund, Inc...... 755 1,210,199 Iron Mountain, Inc. (b) ...... 8,249 349,098 NorthWest Healthcare Properties Real Estate Investment Trust (b) . . 18,100 185,877 Japan Excellent, Inc. (b) ...... 135 192,947 NSINV...... 2,021 78,009 Japan Hotel REIT Investment Corp...... 487 292,264 NTT UD REIT Investment Corp...... 137 202,404 Japan Logistics Fund, Inc...... 94 282,644 Office Properties Income Trust (b) ...... 5,131 150,390 Japan Prime Realty Investment Corp...... 96 375,813 Omega Healthcare Investors, Inc...... 25,570 927,935 Japan Real Estate Investment Corp...... 220 1,352,318 Orix JREIT, Inc...... 450 865,835 Japan Retail Fund Investment Corp...... 1,185 1,283,977 Paramount Group, Inc...... 20,174 203,152 JBG SMITH Properties ...... 13,475 424,597 Park Hotels & Resorts, Inc. (a) ...... 25,496 525,473 Kenedix Office Investment Corp...... 41 288,928 Parkway Life Real Estate Investment Trust ...... 42,150 143,907 Kenedix Residential Next Investment Corp...... 107 231,230 Pebblebrook Hotel Trust (b) ...... 14,011 329,959 Kenedix Retail REIT Corp...... 63 170,394 Physicians Realty Trust (b) ...... 23,269 429,778 Keppel DC REIT ...... 132,207 245,057 Picton Property Income, Ltd. (The) ...... 59,606 71,724 Keppel REIT ...... 231,682 203,296 Piedmont Office Realty Trust, Inc. - Class A ...... 13,400 247,498 Killam Apartment Real Estate Investment Trust (b) ...... 11,100 181,508 Precinct Properties New Zealand, Ltd...... 115,100 128,700 Kilroy Realty Corp. (b) ...... 12,613 878,369 Primary Health Properties plc ...... 142,963 304,450 Kimco Realty Corp. (b) ...... 57,242 1,193,496 ProLogis, Inc...... 101,537 12,136,718 Kite Realty Group Trust ...... 9,012 198,354 PRS REIT plc (The) ...... 50,700 71,552 Kiwi Property Group, Ltd...... 171,120 139,102 PS Business Parks, Inc...... 2,200 325,776 Klepierre ...... 33,523 864,194 Public Storage ...... 20,797 6,253,450 Land Securities Group plc ...... 121,603 1,137,813 QTS Realty Trust, Inc. - Class A ...... 7,450 575,885 Lar Espana Real Estate Socimi S.A...... 6,500 37,798 Realty Income Corp. (b) ...... 51,336 3,426,165 LaSalle Logiport REIT ...... 194 328,188 Corp...... 22,891 1,466,626 Leasinvest Real Estate SCA ...... 276 21,991 Regional REIT, Ltd...... 40,088 47,595 Lexington Realty Trust (b) ...... 29,650 354,317 Retail Estates NV ...... 1,077 87,488 Life Storage, Inc...... 8,324 893,581 Retail Opportunity Investments Corp...... 12,535 221,368 Link REIT ...... 356,655 3,450,709 Retail Properties of America, Inc. - Class A ...... 23,150 265,067 LondonMetric Property plc ...... 95,926 307,252 Rexford Industrial Realty, Inc. (b) ...... 14,600 831,470 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-7 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Equity Real Estate Investment Trusts—(Continued) Equity Real Estate Investment Trusts—(Continued) RioCan Real Estate Investment Trust (b) ...... 34,464 $ 613,880 WP Carey, Inc...... 19,201 $ 1,432,779 RLJ Lodging Trust (b) ...... 17,695 269,495 WPT Industrial Real Estate Investment Trust ...... 5,993 108,653 RPT Realty ...... 8,678 112,640 Xenia Hotels & Resorts, Inc. (a) (b) ...... 12,300 230,379 Ryman Hospitality Properties, Inc. (a) ...... 5,836 460,811 Xior Student Housing NV ...... 2,189 131,859 Sabra Health Care REIT, Inc...... 23,305 424,151 206,117,086 Safehold, Inc. (b) ...... 1,950 153,075 Safestore Holdings plc ...... 22,340 292,782 Food & Staples Retailing—0.7% SBA Communications Corp...... 3,172 1,010,916 Aeon Co., Ltd...... 40,808 1,096,056 Scentre Group ...... 889,545 1,819,306 Carrefour S.A...... 38,266 752,707 Schroder Real Estate Investment Trust, Ltd...... 53,499 36,076 Coles Group, Ltd...... 83,241 1,067,130 Segro plc ...... 204,859 3,103,706 Cosmos Pharmaceutical Corp...... 1,252 183,723 Sekisui House REIT, Inc...... 437 361,829 Costco Wholesale Corp...... 12,795 5,062,598 Service Properties Trust ...... 17,700 223,020 Endeavour Group, Ltd. (a) ...... 78,962 372,478 Shaftesbury plc ...... 30,323 238,992 Etablissements Franz Colruyt NV ...... 3,384 189,252 Shopping Centres Australasia Property Group ...... 117,637 221,557 ICA Gruppen AB ...... 6,276 292,103 Simon Property Group, Inc...... 44,927 5,862,075 J Sainsbury plc ...... 104,110 391,681 SITE Centers Corp...... 18,725 281,998 Jeronimo Martins SGPS S.A...... 15,707 286,502 SL Green Realty Corp. (b) ...... 7,638 611,040 Kesko Oyj - B Shares ...... 17,044 629,600 SmartCentres Real Estate Investment Trust (b) ...... 14,100 334,073 Kobe Bussan Co., Ltd...... 8,536 268,845 Spirit Realty Capital, Inc...... 12,461 596,134 Koninklijke Ahold Delhaize NV ...... 65,254 1,940,139 STAG Industrial, Inc. (b) ...... 17,385 650,721 Kroger Co. (The) (b) ...... 21,860 837,457 Standard Life Investment Property Income Trust, Ltd...... 43,224 41,819 Lawson, Inc...... 3,065 141,777 Stockland ...... 409,129 1,437,357 Seven & i Holdings Co., Ltd...... 47,019 2,241,348 STORE Capital Corp...... 26,562 916,655 Sysco Corp...... 14,645 1,138,649 Summit Hotel Properties, Inc. (a) (b) ...... 11,200 104,496 Tesco plc ...... 482,482 1,489,401 Summit Industrial Income REIT (b) ...... 16,900 242,266 Tsuruha Holdings, Inc...... 2,467 285,563 Sun Communities, Inc...... 12,021 2,060,399 Walgreens Boots Alliance, Inc...... 20,595 1,083,503 Sunstone Hotel Investors, Inc. (a) ...... 23,206 288,219 Walmart, Inc. (e) ...... 39,874 5,623,031 Suntec Real Estate Investment Trust ...... 226,728 246,643 Welcia Holdings Co., Ltd...... 5,765 188,331 Tanger Factory Outlet Centers, Inc. (b) ...... 10,700 201,695 WM Morrison Supermarkets plc ...... 150,373 513,212 Target Healthcare REIT plc ...... 55,711 88,949 Woolworths Group, Ltd...... 78,962 2,255,254 Terreno Realty Corp...... 7,400 477,448 Tokyu REIT, Inc...... 96 177,282 28,330,340 Triple Point Social Housing REIT plc ...... 39,753 57,418 Tritax Big Box REIT plc ...... 187,385 509,173 Food Products—1.1% Tritax EuroBox plc ...... 67,050 99,964 a2 Milk Co., Ltd. (a) ...... 45,219 203,524 UDR, Inc...... 40,684 1,992,702 Ajinomoto Co., Inc...... 29,129 756,039 UK Commercial Property Trust, Ltd...... 80,172 84,595 Archer-Daniels-Midland Co...... 16,055 972,933 Unibail-Rodamco-Westfield (a) ...... 22,470 1,946,221 Associated British Foods plc ...... 22,231 682,507 UNITE Group plc (The) ...... 34,700 515,071 Barry Callebaut AG ...... 223 518,149 United Urban Investment Corp...... 505 730,352 Campbell Soup Co. (b) ...... 5,790 263,966 Universal Health Realty Income Trust (b) ...... 1,376 84,693 Chocoladefabriken Lindt & Spruengli AG ...... 7 733,093 Urban Edge Properties ...... 12,500 238,750 Chocoladefabriken Lindt & Spruengli AG (Participation Certificate) . . 65 646,425 Vastned Retail NV ...... 1,857 54,399 Conagra Brands, Inc. (b) ...... 14,040 510,775 Ventas, Inc...... 51,472 2,939,051 Danone S.A...... 40,705 2,866,768 VEREIT, Inc...... 24,893 1,143,335 General Mills, Inc...... 17,560 1,069,931 VICI Properties, Inc. (b) ...... 58,412 1,811,940 Hershey Co. (The) ...... 4,165 725,460 Vicinity Centres ...... 652,358 752,765 Hormel Foods Corp. (b) ...... 8,010 382,477 Vornado Realty Trust (b) ...... 23,545 1,098,845 J.M. Smucker Co. (The) (b) ...... 3,085 399,723 Warehouses De Pauw CVA ...... 15,169 579,148 JDE Peet’s NV (a) ...... 4,601 166,955 Washington Real Estate Investment Trust ...... 9,144 210,312 Kellogg Co. (b) ...... 7,255 466,714 Waypoint REIT ...... 85,600 167,562 Kerry Group plc - Class A ...... 9,924 1,386,140 Weingarten Realty Investors ...... 12,958 415,563 Kikkoman Corp...... 9,074 598,416 Welltower, Inc. (b) ...... 57,496 4,777,918 Kraft Heinz Co. (The) ...... 18,623 759,446 NV ...... 4,350 74,150 Lamb Weston Holdings, Inc. (b) ...... 4,148 334,578 Weyerhaeuser Co...... 21,492 739,755 McCormick & Co., Inc...... 7,140 630,605 Workspace Group plc ...... 14,550 167,930 MEIJI Holdings Co., Ltd...... 7,622 456,178 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-8 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Food Products—(Continued) Health Care Equipment & Supplies—(Continued) Mondelez International, Inc. - Class A ...... 40,560 $ 2,532,566 ResMed, Inc...... 4,183 $ 1,031,193 Mowi ASA ...... 27,428 697,722 Siemens Healthineers AG ...... 16,770 1,028,368 Nestle S.A...... 179,783 22,389,340 Smith & Nephew plc ...... 54,735 1,186,155 NH Foods, Ltd...... 5,034 195,693 Sonova Holding AG ...... 3,439 1,294,101 Nisshin Seifun Group, Inc...... 12,091 176,818 STERIS plc ...... 2,436 502,547 Nissin Foods Holdings Co., Ltd...... 3,936 283,412 Straumann Holding AG ...... 646 1,030,102 Orkla ASA ...... 46,869 477,443 Stryker Corp...... 9,470 2,459,643 Toyo Suisan Kaisha, Ltd...... 5,421 208,585 Sysmex Corp...... 10,454 1,234,738 Tyson Foods, Inc. - Class A ...... 8,450 623,272 Teleflex, Inc...... 1,345 540,408 WH Group, Ltd...... 598,095 537,692 Terumo Corp...... 40,286 1,631,884 Wilmar International, Ltd...... 119,877 401,769 West Pharmaceutical Services, Inc...... 2,136 767,038 Yakult Honsha Co., Ltd...... 7,943 449,615 Zimmer Biomet Holdings, Inc...... 5,935 954,467 44,504,729 60,352,478

Gas Utilities—0.1% Health Care Providers & Services—0.8% APA Group ...... 73,628 490,558 AmerisourceBergen Corp...... 4,185 479,141 Atmos Energy Corp...... 3,665 352,243 Amplifon S.p.A...... 7,770 384,596 Enagas S.A...... 15,531 358,813 Anthem, Inc...... 7,080 2,703,144 Hong Kong & China Gas Co., Ltd...... 698,659 1,085,201 Cardinal Health, Inc...... 8,430 481,269 Naturgy Energy Group S.A...... 18,045 463,994 Centene Corp. (a) ...... 16,677 1,216,254 Osaka Gas Co., Ltd...... 23,401 433,586 Chartwell Retirement Residences (b) ...... 23,400 250,121 Snam S.p.A...... 123,603 715,318 Cigna Corp...... 10,146 2,405,312 Toho Gas Co., Ltd...... 4,593 224,862 CVS Health Corp...... 37,699 3,145,604 Tokyo Gas Co., Ltd...... 23,467 441,061 DaVita, Inc. (a) ...... 2,030 244,473 4,565,636 Fresenius Medical Care AG & Co. KGaA ...... 12,793 1,062,698 Fresenius SE & Co. KGaA ...... 26,094 1,361,597 Health Care Equipment & Supplies—1.5% HCA Healthcare, Inc...... 7,669 1,585,489 Abbott Laboratories ...... 50,970 5,908,952 Henry Schein, Inc. (a) ...... 4,006 297,205 ABIOMED, Inc. (a) ...... 1,272 397,004 Humana, Inc...... 3,700 1,638,064 Alcon, Inc...... 31,182 2,184,200 Laboratory Corp. of America Holdings (a) ...... 2,825 779,276 Align Technology, Inc. (a) ...... 2,099 1,282,489 McKesson Corp...... 4,555 871,098 Ambu A/S - Class B ...... 10,451 401,667 Medipal Holdings Corp...... 11,209 214,045 Asahi Intecc Co., Ltd...... 13,015 311,045 NMC Health plc (a) (c) (d) ...... 8,180 0 Baxter International, Inc...... 14,500 1,167,250 Onxeo S.A. (a) ...... 3,239 412,056 Becton Dickinson & Co...... 8,357 2,032,339 Quest Diagnostics, Inc. (b) ...... 3,805 502,146 BioMerieux ...... 2,568 298,473 Ramsay Health Care, Ltd...... 11,426 538,573 Boston Scientific Corp. (a) ...... 40,780 1,743,753 Ryman Healthcare, Ltd...... 26,521 243,326 Carl Zeiss Meditec AG ...... 2,498 482,709 Sonic Healthcare, Ltd...... 28,327 815,579 Cochlear, Ltd...... 4,103 774,673 UnitedHealth Group, Inc...... 27,200 10,891,968 Coloplast A/S - Class B ...... 7,413 1,216,978 Universal Health Services, Inc. - Class B ...... 2,200 322,146 Cooper Cos., Inc. (The) ...... 1,476 584,894 32,845,180 Danaher Corp...... 18,260 4,900,254 Demant A/S (a) ...... 6,758 381,491 Health Care Technology—0.1% Dentsply Sirona, Inc...... 6,207 392,655 Cerner Corp...... 8,760 684,682 DexCom, Inc. (a) ...... 2,798 1,194,746 M3, Inc...... 27,532 2,011,894 DiaSorin S.p.A...... 1,563 295,679 2,696,576 Edwards Lifesciences Corp. (a) ...... 17,880 1,851,832 Fisher & Paykel Healthcare Corp., Ltd...... 35,966 782,313 Hotels, Restaurants & Leisure—0.9% GN Store Nord AS ...... 7,990 699,666 Accor S.A. (a) ...... 10,602 396,154 Hologic, Inc. (a) ...... 7,363 491,259 Aristocrat Leisure, Ltd...... 35,731 1,154,420 Hoya Corp...... 23,266 3,083,649 Caesars Entertainment, Inc. (a) ...... 5,955 617,831 IDEXX Laboratories, Inc. (a) ...... 2,491 1,573,191 Carnival Corp. (a) ...... 22,920 604,171 Intuitive Surgical, Inc. (a) ...... 3,460 3,181,954 Chipotle Mexican Grill, Inc. (a) ...... 815 1,263,527 Koninklijke NV ...... 56,852 2,818,398 Compass Group plc (a) ...... 111,319 2,347,837 Medtronic plc ...... 38,779 4,813,637 Crown Resorts, Ltd. (a) ...... 22,763 203,613 Olympus Corp...... 72,716 1,444,684 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-9 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Hotels, Restaurants & Leisure—(Continued) Household Durables—(Continued) Darden Restaurants, Inc...... 3,675 $ 536,513 Group Corp...... 78,694 $ 7,637,495 Domino’s Pizza Enterprises, Ltd...... 3,779 341,638 Taylor Wimpey plc ...... 227,495 501,273 Domino’s Pizza, Inc. (b) ...... 1,183 551,858 Whirlpool Corp. (b) ...... 1,830 398,977 Entain plc (a) ...... 36,520 882,504 19,487,697 Evolution AB ...... 10,600 1,675,756 Expedia Group, Inc. (a) ...... 3,935 644,199 Household Products—0.5% Flutter Entertainment plc (a) ...... 10,386 1,882,590 Church & Dwight Co., Inc...... 7,002 596,710 Galaxy Entertainment Group, Ltd. (a) (b) ...... 135,555 1,085,107 Clorox Co. (The) (b) ...... 3,615 650,375 Genting Singapore, Ltd...... 369,600 229,454 Colgate-Palmolive Co...... 24,350 1,980,873 Hilton Worldwide Holdings, Inc. (a) ...... 7,908 953,863 Essity AB - Class B ...... 37,977 1,259,246 InterContinental Hotels Group plc (a) ...... 11,398 759,731 Henkel AG & Co. KGaA ...... 6,484 596,998 La Francaise des Jeux SAEM ...... 5,959 350,429 Kimberly-Clark Corp...... 9,735 1,302,348 Las Vegas Sands Corp. (a) ...... 9,442 497,499 Lion Corp. (b) ...... 13,999 237,176 Marriott International, Inc. - Class A (a) ...... 7,607 1,038,508 Pigeon Corp. (b) ...... 7,063 198,283 McDonald’s Corp...... 21,440 4,952,426 Procter & Gamble Co. (The) (e) ...... 70,806 9,553,854 McDonald’s Holdings Co. Japan, Ltd. (b) ...... 4,978 219,586 Reckitt Benckiser Group plc ...... 44,479 3,936,445 Melco Resorts & Entertainment, Ltd. (ADR) (a) ...... 13,114 217,299 Unicharm Corp...... 25,182 1,012,960 MGM Resorts International ...... 11,804 503,441 Norwegian Cruise Line Holdings, Ltd. (a) (b) ...... 10,427 306,658 21,325,268 Oriental Land Co., Ltd...... 12,482 1,778,037 Pandox AB (a) ...... 9,586 159,571 Independent Power and Renewable Electricity Producers—0.0% Penn National Gaming, Inc. (a) (b) ...... 4,222 322,941 AES Corp. (The) ...... 19,185 500,153 Royal Caribbean Cruises, Ltd. (a) ...... 6,214 529,930 Meridian Energy, Ltd...... 79,956 297,473 Sands China, Ltd. (a) ...... 151,454 637,886 Uniper SE ...... 5,709 210,480 SJM Holdings, Ltd. (a) ...... 121,238 132,267 1,008,106 Sodexo S.A. (a) ...... 5,521 515,533 Starbucks Corp...... 33,886 3,788,794 Industrial Conglomerates—0.7% Tabcorp Holdings, Ltd...... 138,356 536,037 3MCo...... 16,645 3,306,196 Whitbread plc (a) ...... 12,595 545,071 CK Hutchison Holdings, Ltd...... 168,448 1,312,559 Wynn Macau, Ltd. (a) ...... 95,297 149,973 DCCplc...... 6,150 503,779 Wynn Resorts, Ltd. (a) (b) ...... 2,950 360,785 Co...... 252,372 3,396,927 Yum! Brands, Inc. (b) ...... 8,540 982,356 Hitachi, Ltd...... 60,398 3,456,629 34,655,793 Honeywell International, Inc...... 20,060 4,400,161 Investment AB Latour - B Shares ...... 9,238 303,243 Household Durables—0.5% Jardine Matheson Holdings, Ltd...... 13,462 861,159 Barratt Developments plc ...... 63,546 612,182 Keppel Corp., Ltd...... 90,886 370,268 Berkeley Group Holdings plc ...... 7,661 487,660 Melrose Industries plc ...... 303,170 652,329 Casio Computer Co., Ltd...... 11,873 198,401 Roper Technologies, Inc...... 3,090 1,452,918 DR Horton, Inc...... 9,450 853,997 Siemens AG ...... 47,738 7,564,082 Electrolux AB - Series B ...... 14,074 390,420 Smiths Group plc ...... 24,734 544,963 Garmin, Ltd...... 4,270 617,613 Toshiba Corp. (b) ...... 25,569 1,106,341 Husqvarna AB - B Shares ...... 26,096 346,911 29,231,554 Iida Group Holdings Co., Ltd...... 9,186 236,379 Leggett & Platt, Inc. (b) ...... 3,780 195,842 Insurance—1.7% Lennar Corp. - Class A ...... 7,895 784,368 Admiral Group plc ...... 12,034 523,709 Mohawk Industries, Inc. (a) ...... 1,660 319,035 Aegon NV ...... 111,661 462,789 Newell Brands, Inc...... 10,795 296,539 Aflac, Inc...... 18,370 985,734 NVR, Inc. (a) ...... 170 845,461 Ageas SA ...... 10,926 605,955 Panasonic Corp...... 137,798 1,593,764 AIA Group, Ltd...... 754,761 9,380,683 Persimmon plc ...... 19,911 816,201 Allianz SE ...... 25,729 6,415,168 PulteGroup, Inc...... 7,580 413,641 Allstate Corp. (The) ...... 8,665 1,130,263 Rinnai Corp...... 2,251 214,104 American International Group, Inc...... 24,871 1,183,860 SEB S.A...... 1,727 312,205 Aon plc - Class A (b) ...... 6,480 1,547,165 Sekisui Chemical Co., Ltd...... 23,788 406,446 Arthur J. Gallagher & Co...... 5,542 776,323 Sekisui House, Ltd...... 38,453 788,378 Assicurazioni Generali S.p.A...... 68,845 1,379,049 Sharp Corp...... 13,365 220,405 Assurant, Inc...... 1,605 250,669 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-10 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Insurance—(Continued) Interactive Media & Services—(Continued) Aviva plc ...... 245,161 $ 1,378,605 Scout24 AG ...... 6,644 $ 560,814 AXA S.A...... 120,731 3,058,592 Seek, Ltd...... 20,928 520,287 Baloise Holding AG ...... 2,893 450,944 Twitter, Inc. (a) ...... 22,976 1,580,978 Chubb, Ltd...... 12,967 2,060,975 Z Holdings Corp...... 165,564 830,175 Corp. (b) ...... 4,310 502,632 71,173,092 CNP Assurances ...... 10,491 178,333 Dai-ichi Life Holdings, Inc...... 63,585 1,163,718 Internet & Direct Marketing Retail—1.4% Direct Line Insurance Group plc ...... 85,152 335,541 .com, Inc. (a) ...... 12,371 42,558,219 Everest Re Group, Ltd...... 1,128 284,267 Booking Holdings, Inc. (a) ...... 1,195 2,614,768 Gjensidige Forsikring ASA ...... 12,480 275,147 Delivery Hero SE (a) ...... 9,799 1,294,688 Globe Life, Inc...... 2,655 252,889 eBay, Inc...... 18,575 1,304,151 Hannover Rueck SE ...... 3,763 629,586 Etsy, Inc. (a) ...... 3,652 751,728 Hartford Financial Services Group, Inc. (The) ...... 10,240 634,573 HelloFresh SE (a) ...... 10,307 1,002,097 Insurance Australia Group, Ltd...... 153,829 593,442 Just Eat Takeaway.com NV (a) ...... 11,226 1,036,850 Japan Post Holdings Co., Ltd...... 98,284 808,491 Mercari, Inc. (a) ...... 6,377 338,882 Japan Post Insurance Co., Ltd...... 14,043 258,650 Ocado Group plc (a) ...... 30,372 841,567 Legal & General Group plc ...... 372,381 1,325,409 Prosus NV ...... 30,415 2,975,975 Lincoln National Corp...... 5,140 322,998 Rakuten Group, Inc...... 54,033 609,603 Loews Corp...... 6,440 351,946 Zalando SE (a) (b) ...... 10,354 1,251,660 Marsh & McLennan Cos., Inc...... 14,550 2,046,894 Zalando SE (a) (b) (c) ...... 2,915 352,327 Medibank Private, Ltd...... 171,858 407,025 ZOZO, Inc...... 7,779 264,443 MetLife, Inc. (f) ...... 21,575 1,291,264 MS&AD Insurance Group Holdings, Inc...... 27,775 801,800 57,196,958 Muenchener Rueckversicherungs-Gesellschaft AG ...... 8,743 2,395,114 NN Group NV ...... 17,518 825,671 IT Services—1.8% Phoenix Group Holdings plc ...... 37,413 350,599 Accenture plc - Class A ...... 18,295 5,393,183 Poste Italiane S.p.A...... 32,602 431,172 Adyen NV (a) ...... 1,231 3,008,468 Principal Financial Group, Inc...... 7,275 459,707 Afterpay, Ltd. (a) ...... 13,541 1,198,326 Progressive Corp. (The) ...... 16,805 1,650,419 Akamai Technologies, Inc. (a) ...... 4,660 543,356 Prudential Financial, Inc...... 11,330 1,160,985 Amadeus IT Group S.A. (a) ...... 28,112 1,977,013 Prudential plc ...... 162,841 3,089,719 Atos SE ...... 6,177 375,913 QBE Insurance Group, Ltd...... 92,054 742,342 Automatic Data Processing, Inc...... 12,295 2,442,033 Sampo Oyj - A Shares ...... 31,122 1,431,211 Bechtle AG ...... 1,704 316,913 SCOR SE (a) ...... 9,894 314,728 Broadridge Financial Solutions, Inc...... 3,258 526,265 Sompo Holdings, Inc...... 19,802 729,560 Capgemini SE (b) ...... 10,006 1,924,063 Suncorp Group, Ltd...... 79,913 663,932 Cognizant Technology Solutions Corp. - Class A ...... 15,250 1,056,215 Swiss Life Holding AG ...... 1,998 971,066 Computershare, Ltd...... 33,829 430,258 Swiss Re AG ...... 18,822 1,696,372 DXC Technology Co. (a) ...... 7,328 285,352 T&D Holdings, Inc...... 33,575 436,252 Edenred ...... 15,387 877,003 Tokio Marine Holdings, Inc...... 39,426 1,806,751 Fidelity National Information Services, Inc...... 17,817 2,524,134 Travelers Cos., Inc. (The) ...... 7,280 1,089,889 Fiserv, Inc. (a) ...... 16,542 1,768,174 Tryg A/S ...... 22,468 551,409 FleetCor Technologies, Inc. (a) ...... 2,423 620,433 Unum Group ...... 5,795 164,578 Fujitsu, Ltd...... 12,272 2,298,596 W.R. Berkley Corp...... 3,968 295,338 Gartner, Inc. (a) ...... 2,509 607,680 Willis Towers Watson plc ...... 3,667 843,483 Global Payments, Inc...... 8,513 1,596,528 Zurich Insurance Group AG ...... 9,389 3,764,495 GMO Payment Gateway, Inc...... 2,576 334,875 International Business Machines Corp...... 25,694 3,766,484 69,919,880 Itochu Techno-Solutions Corp...... 5,867 181,739 Jack Henry & Associates, Inc...... 2,136 349,257 Interactive Media & Services—1.8% MasterCard, Inc. - Class A ...... 25,300 9,236,777 Adevinta ASA (a) ...... 17,097 327,748 NEC Corp...... 15,323 788,569 Alphabet, Inc. - Class A (a) (e) ...... 8,690 21,219,155 Nexi S.p.A. (a) ...... 27,422 602,263 Alphabet, Inc. - Class C (a) (e) ...... 8,316 20,842,557 Nomura Research Institute, Ltd...... 21,992 727,775 Auto Trader Group plc (a) ...... 60,291 528,739 NTT Data Corp...... 39,384 614,148 Facebook, Inc. - Class A (a) ...... 69,296 24,094,912 Obic Co., Ltd...... 4,351 810,331 Kakaku.com, Inc...... 8,212 248,103 Otsuka Corp...... 7,114 373,170 REA Group, Ltd...... 3,309 419,624 Paychex, Inc...... 9,165 983,405 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-11 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

IT Services—(Continued) Machinery—(Continued) PayPal Holdings, Inc. (a) ...... 33,675 $ 9,815,589 Ingersoll Rand, Inc. (a) ...... 10,651 $ 519,875 SCSK Corp...... 3,183 189,612 KION Group AG ...... 4,503 479,933 TIS, Inc...... 13,969 356,825 Knorr-Bremse AG ...... 4,527 520,984 VeriSign, Inc. (a) ...... 2,885 656,886 Komatsu, Ltd...... 54,640 1,357,575 Visa, Inc. - A Shares (b) ...... 48,810 11,412,754 Kone Oyj - Class B ...... 21,210 1,730,473 Western Union Co. (The) ...... 11,820 271,505 Kubota Corp. (b) ...... 64,106 1,296,082 Wix.com, Ltd. (a) ...... 3,472 1,007,852 Kurita Water Industries, Ltd...... 6,163 295,600 Worldline S.A. (a) ...... 14,826 1,389,089 Makita Corp...... 13,979 657,889 73,638,811 MINEBEA MITSUMI, Inc...... 22,653 598,930 MISUMI Group, Inc...... 17,729 599,746 Leisure Products—0.1% Mitsubishi Heavy Industries, Ltd...... 19,999 588,127 Bandai Namco Holdings, Inc...... 12,468 865,364 Miura Co., Ltd...... 5,472 237,069 Hasbro, Inc...... 3,645 344,526 Nabtesco Corp. (b) ...... 7,027 265,702 Shimano, Inc...... 4,629 1,097,644 NGK Insulators, Ltd...... 16,085 269,759 Yamaha Corp...... 8,285 449,493 NSK, Ltd...... 24,080 203,423 Otis Worldwide Corp...... 11,676 954,746 2,757,027 PACCAR, Inc...... 9,895 883,129 Parker-Hannifin Corp...... 3,735 1,147,056 Life Sciences Tools & Services—0.5% Pentair plc (b) ...... 4,773 322,130 Agilent Technologies, Inc...... 8,735 1,291,121 Rational AG ...... 321 291,374 Bio-Rad Laboratories, Inc. - Class A (a) ...... 625 402,681 Sandvik AB ...... 70,449 1,799,842 Charles River Laboratories International, Inc. (a) ...... 1,439 532,315 Schindler Holding AG ...... 1,266 370,040 Eurofins Scientific SE (a) ...... 8,332 952,797 Schindler Holding AG (Participation Certificate) ...... 2,541 777,429 Illumina, Inc. (a) ...... 4,219 1,996,473 SKF AB - B Shares ...... 23,814 606,670 IQVIA Holdings, Inc. (a) ...... 5,521 1,337,849 SMC Corp...... 3,574 2,111,020 Lonza Group AG ...... 4,647 3,294,224 Snap-on, Inc...... 1,510 337,379 Mettler-Toledo International, Inc. (a) ...... 689 954,499 Spirax-Sarco Engineering plc ...... 4,601 867,406 PerkinElmer, Inc. (b) ...... 3,190 492,568 Stanley Black & Decker, Inc...... 4,640 951,154 QIAGEN NV (a) ...... 14,404 696,222 Techtronic Industries Co., Ltd...... 85,780 1,501,254 Sartorius Stedim Biotech ...... 1,726 816,511 THK Co., Ltd...... 7,363 219,547 Thermo Fisher Scientific, Inc...... 11,330 5,715,645 Volvo AB - A Shares ...... 12,495 309,972 Waters Corp. (a) ...... 1,790 618,642 Volvo AB - B Shares (b) ...... 89,212 2,147,369 19,101,547 Wartsila Oyj Abp ...... 29,540 438,820 Westinghouse Air Brake Technologies Corp...... 5,077 417,837 Machinery—1.3% Xylem, Inc. (b) ...... 5,140 616,594 Alfa Laval AB ...... 19,631 693,715 Yaskawa Electric Corp...... 14,978 731,616 Alstom S.A. (a) ...... 17,373 877,866 51,233,491 Atlas Copco AB - A Shares ...... 41,904 2,567,127 Atlas Copco AB - B Shares ...... 24,350 1,281,226 Marine—0.1% Caterpillar, Inc. (b) ...... 15,685 3,413,527 AP Moller - Maersk A/S - Class A ...... 199 553,000 CNH Industrial NV ...... 63,857 1,055,092 AP Moller - Maersk A/S - Class B ...... 383 1,101,431 Cummins, Inc...... 4,295 1,047,164 Kuehne & Nagel International AG ...... 3,370 1,153,492 Daifuku Co., Ltd...... 6,320 573,723 Nippon Yusen KK ...... 10,081 510,548 Deere & Co...... 9,015 3,179,681 Dover Corp...... 4,100 617,460 3,318,471 Epiroc AB - B Shares ...... 24,335 477,738 Epiroc AB - class A ...... 41,124 937,171 Media—0.5% FANUC Corp...... 11,971 2,885,613 Charter Communications, Inc. - Class A (a) (b) ...... 4,057 2,926,923 Fortive Corp...... 9,730 678,570 Comcast Corp. - Class A ...... 131,604 7,504,060 GEA Group AG ...... 9,573 387,750 CyberAgent, Inc...... 25,036 537,829 Harmonic Drive Systems, Inc...... 2,704 149,010 Dentsu Group, Inc. (b) ...... 13,498 482,715 Hino Motors, Ltd...... 17,559 154,544 Discovery, Inc. - Class A (a) (b) ...... 4,650 142,662 Hitachi Construction Machinery Co., Ltd...... 6,574 200,798 Discovery, Inc. - Class C (a) ...... 8,265 239,520 Hoshizaki Corp...... 3,389 287,886 DISH Network Corp. - Class A (a) ...... 7,089 296,320 IDEX Corp...... 2,221 488,731 Fox Corp. - Class A ...... 9,619 357,153 Illinois Tool Works, Inc...... 8,300 1,855,548 Fox Corp. - Class B ...... 4,341 152,803 Hakuhodo DY Holdings, Inc...... 14,579 226,130 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-12 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Media—(Continued) Multi-Utilities—(Continued) Informa plc (a) ...... 93,738 $ 651,593 Suez S.A...... 21,566 $ 512,745 Interpublic Group of Cos., Inc. (The) ...... 11,225 364,700 Veolia Environnement S.A...... 33,629 1,016,054 News Corp. - Class A ...... 11,221 289,165 WEC Energy Group, Inc...... 9,029 803,129 News Corp. - Class B ...... 3,456 84,154 16,886,405 Omnicom Group, Inc...... 6,185 494,738 Pearson plc ...... 47,032 541,608 Multiline Retail—0.3% Publicis Groupe S.A. (b) ...... 13,914 890,398 Dollar General Corp...... 7,030 1,521,222 Schibsted ASA - B Shares ...... 5,990 249,560 Dollar Tree, Inc. (a) ...... 6,713 667,943 Schibsted ASA - Class A ...... 4,534 218,918 Next plc (a) ...... 8,296 902,873 ViacomCBS, Inc. - Class B ...... 16,268 735,313 Pan Pacific International Holdings Corp...... 25,720 533,998 WPPplc ...... 76,464 1,035,163 Ryohin Keikaku Co., Ltd...... 15,769 329,313 18,421,425 Target Corp...... 14,390 3,478,639 Wesfarmers, Ltd...... 70,755 3,134,602 Metals & Mining—1.0% 10,568,590 Anglo American plc ...... 80,809 3,220,149 Antofagasta plc ...... 24,608 488,826 Oil, Gas & Consumable Fuels—1.5% ArcelorMittal S.A...... 44,732 1,373,185 Ampol, Ltd...... 14,870 314,686 BHP Group plc ...... 131,799 3,884,859 APA Corp...... 10,795 233,496 BHP Group, Ltd...... 183,830 6,668,059 BPplc...... 1,269,728 5,549,348 BlueScope Steel, Ltd...... 31,437 516,696 Cabot Oil & Gas Corp. (b) ...... 11,490 200,615 Boliden AB ...... 17,067 656,433 Chevron Corp. (e) ...... 55,425 5,805,183 Evolution Mining, Ltd...... 106,626 361,007 ConocoPhillips ...... 38,925 2,370,532 Evraz plc ...... 31,819 261,114 Devon Energy Corp...... 17,020 496,814 Fortescue Metals Group, Ltd...... 105,675 1,849,470 Diamondback Energy, Inc...... 5,150 483,533 Freeport-McMoRan, Inc...... 41,900 1,554,909 ENEOS Holdings, Inc...... 191,500 801,639 Glencore plc ...... 623,608 2,670,524 Eni S.p.A...... 157,500 1,921,533 Hitachi Metals, Ltd. (a) ...... 13,382 255,890 EOG Resources, Inc...... 16,790 1,400,958 JFE Holdings, Inc...... 30,674 359,306 Equinor ASA ...... 60,986 1,290,834 Newcrest Mining, Ltd...... 50,955 968,950 Exxon Mobil Corp. (e) ...... 121,848 7,686,172 Newmont Corp...... 22,991 1,457,170 Galp Energia SGPS S.A...... 31,280 340,349 Nippon Steel Corp...... 53,372 898,935 Hess Corp...... 7,770 678,476 Norsk Hydro ASA ...... 83,922 536,093 Idemitsu Kosan Co., Ltd...... 13,011 314,042 Northern Star Resources, Ltd...... 68,972 507,499 Inpex Corp. (b) ...... 63,877 478,730 Corp...... 8,540 819,242 Kinder Morgan, Inc...... 56,030 1,021,427 Rio Tinto plc ...... 70,034 5,765,677 Koninklijke Vopak NV ...... 4,297 195,281 Rio Tinto, Ltd...... 23,165 2,200,283 Lundin Energy AB ...... 12,489 443,124 South32, Ltd...... 296,209 650,841 Marathon Oil Corp...... 22,680 308,902 Sumitomo Metal Mining Co., Ltd...... 15,425 600,437 Marathon Petroleum Corp...... 18,677 1,128,464 voestalpine AG ...... 7,242 294,906 Neste Oyj ...... 26,400 1,617,513 38,820,460 Occidental Petroleum Corp...... 24,055 752,200 Oil Search, Ltd...... 123,180 352,106 Multi-Utilities—0.4% OMVAG...... 9,190 524,275 AGL Energy, Ltd...... 38,879 238,442 ONEOK, Inc. (b) ...... 12,767 710,356 Ameren Corp. (b) ...... 7,260 581,090 Phillips 66 ...... 12,540 1,076,183 CenterPoint Energy, Inc. (b) ...... 15,800 387,416 Pioneer Natural Resources Co. (b) ...... 5,865 953,180 CMS Energy Corp...... 8,255 487,705 Repsol S.A. (b) ...... 92,935 1,165,717 Consolidated Edison, Inc...... 9,845 706,083 Royal Dutch Shell plc - A Shares ...... 255,929 5,143,016 Dominion Energy, Inc...... 23,101 1,699,541 Royal Dutch Shell plc - B Shares ...... 231,277 4,493,812 DTE Energy Co...... 5,530 716,688 Santos, Ltd...... 116,990 624,069 E.ON SE ...... 140,102 1,620,245 TotalEnergies SE (b) ...... 154,696 7,018,147 Engie S.A...... 113,976 1,562,523 Valero Energy Corp...... 11,715 914,707 National Grid plc ...... 221,479 2,819,947 Washington H Soul Pattinson & Co., Ltd...... 6,584 166,605 NiSource, Inc...... 11,250 275,625 Williams Cos., Inc. (The) ...... 34,881 926,091 Public Service Enterprise Group, Inc...... 14,470 864,438 Woodside Petroleum, Ltd...... 60,045 1,000,549 RWEAG ...... 40,088 1,452,756 60,902,664 Sempra Energy ...... 8,620 1,141,978 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-13 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Paper & Forest Products—0.1% Pharmaceuticals—(Continued) Mondi plc ...... 30,300 $ 798,339 UCB S.A...... 7,889 $ 824,827 Oji Holdings Corp...... 50,640 290,324 Viatris, Inc...... 34,687 495,677 Stora Enso Oyj - R Shares ...... 36,302 662,645 Vifor Pharma AG ...... 3,042 393,773 Svenska Cellulosa AB SCA - Class B ...... 37,807 619,686 Zoetis, Inc...... 13,640 2,541,950 UPM-Kymmene Oyj ...... 33,306 1,259,994 123,455,635 3,630,988 Professional Services—0.5% Personal Products—0.6% Adecco Group AG ...... 9,670 657,265 Beiersdorf AG ...... 6,290 759,150 Bureau Veritas S.A. (a) ...... 18,342 580,523 Estee Lauder Cos., Inc. (The) - Class A ...... 6,620 2,105,690 Equifax, Inc...... 3,515 841,878 Kao Corp. (b) ...... 30,078 1,850,204 Experian plc ...... 57,243 2,208,268 Kobayashi Pharmaceutical Co., Ltd...... 3,328 284,235 IHS Markit, Ltd...... 10,660 1,200,956 Kose Corp...... 2,068 325,489 Intertek Group plc ...... 10,071 770,819 L’Oreal S.A...... 15,722 7,010,620 Jacobs Engineering Group, Inc...... 3,650 486,983 Pola Orbis Holdings, Inc. (b) ...... 5,602 148,001 Leidos Holdings, Inc...... 3,787 382,866 Shiseido Co., Ltd...... 24,961 1,835,425 Nielsen Holdings plc ...... 10,233 252,448 Unilever plc ...... 164,072 9,596,401 Nihon M&A Center, Inc...... 18,895 490,313 23,915,215 Persol Holdings Co., Ltd...... 10,850 214,251 Randstad NV ...... 7,461 571,028 Pharmaceuticals—3.0% Recruit Holdings Co., Ltd...... 84,666 4,166,069 Astellas Pharma, Inc...... 116,181 2,022,433 RELX plc ...... 120,587 3,203,577 AstraZeneca plc ...... 81,916 9,829,772 Robert Half International, Inc...... 3,220 286,483 Bayer AG ...... 61,306 3,723,830 SGS S.A...... 378 1,166,108 Bristol-Myers Squibb Co...... 64,475 4,308,220 Teleperformance SE ...... 3,665 1,487,731 Catalent, Inc. (a) ...... 4,849 524,274 Verisk Analytics, Inc...... 4,701 821,359 Chugai Pharmaceutical Co., Ltd...... 41,911 1,650,738 Wolters Kluwer NV ...... 16,757 1,684,205 Daiichi Sankyo Co., Ltd...... 106,186 2,287,746 21,473,130 Eisai Co., Ltd...... 14,805 1,446,807 Eli Lilly and Co...... 22,910 5,258,303 Real Estate Management & Development—1.4% GlaxoSmithKline plc ...... 313,951 6,167,464 ADLER Group S.A...... 9,938 261,483 Hikma Pharmaceuticals olc ...... 10,787 365,250 Aeon Mall Co., Ltd...... 12,907 198,726 Hisamitsu Pharmaceutical Co., Inc...... 3,123 153,713 Allreal Holding AG ...... 1,532 301,724 Ipsen S.A...... 2,358 245,318 Amot Investments, Ltd...... 16,050 105,294 Johnson & Johnson (e) ...... 75,620 12,457,639 Aroundtown S.A...... 193,096 1,504,426 Kyowa Kirin Co., Ltd...... 16,848 594,834 Atrium Ljungberg AB - B Shares ...... 4,900 111,625 Merck & Co., Inc. (e) ...... 72,835 5,664,378 Azrieli Group, Ltd...... 6,593 464,315 Merck KGaA ...... 8,065 1,548,237 CA Immobilien Anlagen AG ...... 8,132 339,048 Nippon Shinyaku Co., Ltd...... 3,068 243,244 CapitaLand, Ltd...... 445,560 1,230,816 Novartis AG ...... 138,556 12,628,658 Castellum AB ...... 29,570 752,692 Novo Nordisk A/S - Class B ...... 107,454 8,989,819 Catena AB ...... 3,000 160,636 Ono Pharmaceutical Co., Ltd...... 23,079 512,274 CBRE Group, Inc. - Class A (a) ...... 9,615 824,294 Organon & Co. (a) ...... 7,283 220,384 City Developments, Ltd...... 76,580 415,764 Orion Oyj - Class B ...... 6,537 281,010 Citycon Oyj ...... 8,360 71,227 Otsuka Holdings Co., Ltd...... 24,367 1,010,174 CK Asset Holdings, Ltd...... 408,498 2,820,021 Perrigo Co. plc ...... 3,753 172,075 CLS Holdings plc ...... 17,000 56,569 Pfizer, Inc...... 160,566 6,287,765 Corem Property Group AB - B Shares ...... 63,700 144,284 Recordati Industria Chimica e Farmaceutica S.p.A...... 6,484 370,795 Daito Trust Construction Co., Ltd...... 4,052 442,988 Roche Holding AG ...... 43,842 16,522,761 Daiwa House Industry Co., Ltd...... 35,339 1,060,479 Roche Holding AG ...... 1,997 811,200 Deutsche Euroshop AG ...... 5,550 131,636 Sanofi ...... 70,707 7,409,080 Deutsche Wohnen SE ...... 58,812 3,600,302 Santen Pharmaceutical Co., Ltd...... 22,481 309,544 Dios Fastigheter AB ...... 9,122 94,462 Shionogi & Co., Ltd...... 16,527 861,308 Entra ASA ...... 18,168 415,437 Sumitomo Dainippon Pharma Co., Ltd...... 10,944 228,295 ESR Cayman, Ltd. (a) (b) ...... 124,113 418,825 Taisho Pharmaceutical Holdings Co., Ltd...... 2,081 110,863 Fabege AB ...... 28,050 450,070 Takeda Pharmaceutical Co., Ltd...... 98,371 3,303,795 Fastighets AB Balder - B Shares (a) ...... 17,562 1,102,092 Teva Pharmaceutical Industries, Ltd. (ADR) (a) ...... 68,425 677,408 Grainger plc ...... 72,143 284,613 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-14 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Real Estate Management & Development—(Continued) Road & Rail—(Continued) Grand City Properties S.A...... 10,350 $ 279,600 Keio Corp...... 6,353 $ 373,300 Hang Lung Properties, Ltd...... 347,109 842,930 Keisei Electric Railway Co., Ltd...... 7,903 252,091 Helical plc ...... 11,004 66,238 Kintetsu Group Holdings Co., Ltd. (a) ...... 10,595 371,827 Henderson Land Development Co., Ltd. (b) ...... 232,135 1,100,237 MTR Corp., Ltd...... 94,120 524,283 Hiag Immobilien Holding AG ...... 300 33,073 Nippon Express Co., Ltd...... 4,792 364,800 Hongkong Land Holdings, Ltd...... 199,157 948,719 Norfolk Southern Corp...... 7,240 1,921,568 Hufvudstaden AB - A Shares ...... 11,650 198,109 Odakyu Electric Railway Co., Ltd...... 18,396 463,631 Hulic Co., Ltd. (b) ...... 56,375 634,065 Old Dominion Freight Line, Inc...... 2,803 711,401 Hysan Development Co., Ltd...... 66,639 265,638 Tobu Railway Co., Ltd...... 11,783 304,514 Intershop Holding AG ...... 150 98,576 Tokyu Corp...... 31,195 424,112 K-Fast Holding AB (a) ...... 6,700 48,946 Union Pacific Corp...... 19,290 4,242,450 Kennedy-Wilson Holdings, Inc. (b) ...... 12,977 257,853 West Japan Railway Co...... 10,148 578,369 Klovern AB - B Shares ...... 11,601 23,212 17,234,939 Kojamo Oyj ...... 21,255 485,699 Kungsleden AB ...... 20,456 247,649 Semiconductors & Semiconductor Equipment—2.3% LEG Immobilien SE ...... 12,281 1,769,407 Advanced Micro Devices, Inc. (a) ...... 34,878 3,276,090 Lend Lease Corp., Ltd...... 42,954 369,240 Advantest Corp...... 12,453 1,116,561 Mitsubishi Estate Co., Ltd...... 197,919 3,199,522 Analog Devices, Inc...... 10,602 1,825,240 Mitsui Fudosan Co., Ltd...... 157,502 3,646,409 Applied Materials, Inc...... 26,360 3,753,664 Mobimo Holding AG ...... 676 221,855 ASM International NV ...... 2,952 970,623 New World Development Co., Ltd...... 250,073 1,299,620 ASML Holding NV ...... 26,178 18,023,590 Nomura Real Estate Holdings, Inc...... 19,282 488,995 Broadcom, Inc...... 11,759 5,607,162 Nyfosa AB ...... 19,074 257,686 Disco Corp...... 1,799 550,119 Peach Property Group AG ...... 950 56,472 Enphase Energy, Inc. (a) ...... 3,700 679,431 Phoenix Spree Deutschland, Ltd...... 8,977 49,492 Infineon Technologies AG ...... 81,493 3,267,940 Platzer Fastigheter Holding AB - Class B ...... 5,850 88,716 Intel Corp. (e) ...... 116,970 6,566,696 PSP Swiss Property AG ...... 4,659 590,864 KLA Corp...... 4,470 1,449,219 Sagax AB - Class B ...... 18,700 555,533 Lam Research Corp...... 4,147 2,698,453 Samhallsbyggnadsbolaget i Norden AB (b) ...... 108,356 454,152 Lasertec Corp...... 4,707 912,799 Shurgard Self Storage S.A...... 2,700 130,249 Maxim Integrated Products, Inc...... 7,661 807,163 Sino Land Co., Ltd...... 583,780 920,311 Microchip Technology, Inc...... 7,730 1,157,490 Sirius Real Estate, Ltd...... 105,452 161,446 Micron Technology, Inc. (a) ...... 32,170 2,733,807 Sumitomo Realty & Development Co., Ltd...... 62,326 2,226,463 Monolithic Power Systems, Inc...... 1,276 476,522 Sun Hung Kai Properties, Ltd...... 236,285 3,521,010 NVIDIA Corp...... 17,870 14,297,787 Swire Pacific, Ltd. - Class A ...... 30,430 206,351 NXP Semiconductors NV ...... 7,985 1,642,674 Swire Properties, Ltd...... 186,370 555,680 Qorvo, Inc. (a) ...... 3,223 630,580 Swiss Prime Site AG ...... 12,914 1,281,553 QUALCOMM, Inc...... 32,668 4,669,237 TAG Immobilien AG ...... 13,750 436,622 Renesas Electronics Corp. (a) ...... 54,048 584,741 TLG Immobilien AG ...... 767 25,381 Rohm Co., Ltd...... 5,463 505,382 Tokyo Tatemono Co., Ltd. (b) ...... 21,579 307,560 Skyworks Solutions, Inc...... 4,771 914,839 Tricon Capital Group, Inc. (b) ...... 20,300 233,525 STMicroelectronics NV ...... 42,616 1,547,051 UOL Group, Ltd...... 82,059 446,081 SUMCO Corp. (b) ...... 17,262 421,564 Vonovia SE ...... 95,284 6,165,914 Teradyne, Inc...... 4,716 631,755 Wallenstam AB - B Shares ...... 17,750 280,543 Texas Instruments, Inc...... 26,430 5,082,489 Wharf Real Estate Investment Co., Ltd...... 283,034 1,645,906 Tokyo Electron, Ltd...... 9,320 4,012,650 Wihlborgs Fastigheter AB ...... 14,450 313,127 Xilinx, Inc...... 6,980 1,009,587 55,200,077 91,822,905

Road & Rail—0.4% Software—2.7% Aurizon Holdings, Ltd...... 115,337 321,974 Adobe, Inc. (a) ...... 13,820 8,093,545 Central Japan Railway Co...... 8,998 1,364,285 ANSYS, Inc. (a) ...... 2,487 863,138 CSX Corp...... 65,610 2,104,769 Autodesk, Inc. (a) ...... 6,365 1,857,943 East Japan Railway Co...... 18,867 1,352,162 AVEVA Group plc ...... 7,174 368,393 Hankyu Hanshin Holdings, Inc...... 14,129 435,047 Cadence Design Systems, Inc. (a) ...... 7,936 1,085,804 J.B. Hunt Transport Services, Inc...... 2,396 390,428 Check Point Software Technologies, Ltd. (a) (b) ...... 6,999 812,794 Kansas City Southern ...... 2,590 733,928 Citrix Systems, Inc...... 3,520 412,790 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-15 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Software—(Continued) Technology Hardware, Storage & Peripherals—(Continued) CyberArk Software, Ltd. (a) ...... 2,412 $ 314,211 Canon, Inc. (b) ...... 62,423 $ 1,411,575 Dassault Systemes SE ...... 8,245 2,000,236 FUJIFILM Holdings Corp...... 22,479 1,666,377 Fortinet, Inc. (a) ...... 3,882 924,654 Hewlett Packard Enterprise Co...... 37,410 545,438 Intuit, Inc...... 7,895 3,869,892 HP, Inc...... 36,010 1,087,142 Microsoft Corp. (e) ...... 217,187 58,835,958 Logitech International S.A...... 10,802 1,309,153 Nemetschek SE ...... 3,595 275,390 NetApp, Inc...... 6,370 521,193 Nice, Ltd. (a) ...... 3,915 965,121 Ricoh Co., Ltd...... 41,836 471,415 NortonLifeLock, Inc...... 16,700 454,574 Seagate Technology Holdings plc ...... 5,760 506,477 Oracle Corp. (b) (e) ...... 53,387 4,155,644 Seiko Epson Corp...... 17,456 306,885 Oracle Corp. Japan ...... 2,396 183,379 Western Digital Corp. (a) ...... 8,724 620,887 Paycom Software, Inc. (a) ...... 1,480 537,936 70,952,611 PTC, Inc. (a) ...... 3,040 429,430 Sage Group plc (The) ...... 68,406 648,006 Textiles, Apparel & Luxury Goods—1.1% Salesforce.com, Inc. (a) ...... 26,366 6,440,423 Adidas AG ...... 11,882 4,424,487 SAPSE...... 65,163 9,194,333 Burberry Group plc (a) ...... 25,260 723,473 ServiceNow, Inc. (a) ...... 5,684 3,123,642 Cie Financiere Richemont S.A. - Class A ...... 32,574 3,943,803 Sinch AB (a) ...... 28,400 478,022 EssilorLuxottica S.A...... 17,457 3,223,390 Synopsys, Inc. (a) ...... 4,372 1,205,754 , Inc. (b) ...... 10,022 187,111 TeamViewer AG (a) ...... 10,037 378,102 Hermes International ...... 1,977 2,882,560 Temenos AG ...... 4,168 669,718 Kering S.A...... 4,681 4,096,206 Trend Micro, Inc...... 8,251 432,327 LVMH Moet Hennessy Louis Vuitton SE ...... 17,325 13,603,017 Tyler Technologies, Inc. (a) ...... 1,235 558,677 Moncler S.p.A...... 12,091 818,480 WiseTech Global, Ltd...... 8,904 213,100 NIKE, Inc. - Class B ...... 36,580 5,651,244 Xero, Ltd. (a) ...... 8,240 846,368 Pandora A/S ...... 6,240 840,825 110,629,304 Puma SE ...... 6,118 729,455 PVH Corp. (a) ...... 2,008 216,041 Specialty Retail—0.8% Ralph Lauren Corp...... 1,295 152,564 ABC-Mart, Inc...... 2,017 115,251 Swatch Group AG (The) ...... 3,215 212,216 , Inc...... 1,870 383,612 Swatch Group AG (The) - Bearer Shares ...... 1,806 619,865 AutoZone, Inc. (a) ...... 685 1,022,171 Tapestry, Inc. (a) ...... 7,950 345,666 Best Buy Co., Inc...... 6,595 758,293 Under Armour, Inc. - Class A (a) ...... 5,372 113,618 CarMax, Inc. (a) ...... 4,650 600,548 Under Armour, Inc. - Class C (a) ...... 5,556 103,175 Chow Tai Fook Jewellery Group, Ltd...... 124,806 285,165 VF Corp...... 9,200 754,768 Fast Retailing Co., Ltd...... 3,641 2,739,474 43,641,964 Gap, Inc. (The) (b) ...... 5,840 196,516 H & M Hennes & Mauritz AB - B Shares (a) ...... 45,575 1,081,506 Tobacco—0.4% Hikari Tsushin, Inc. (b) ...... 1,302 228,591 Altria Group, Inc...... 53,425 2,547,304 Home Depot, Inc. (The) ...... 30,970 9,876,023 British American Tobacco plc ...... 136,009 5,301,928 Industria de Diseno Textil S.A ...... 68,070 2,398,570 Imperial Brands plc ...... 59,058 1,272,669 JD Sports Fashion plc ...... 32,188 409,876 Japan Tobacco, Inc. (b) ...... 74,883 1,414,266 Kingfisher plc ...... 131,716 664,549 Philip Morris International, Inc. (e) ...... 44,805 4,440,624 L Brands, Inc...... 6,690 482,081 Swedish Match AB ...... 101,217 863,304 Lowe’s Cos., Inc...... 21,070 4,086,948 Nitori Holdings Co., Ltd...... 4,999 884,926 15,840,095 O’Reilly Automotive, Inc. (a) ...... 2,065 1,169,224 Ross Stores, Inc...... 10,180 1,262,320 Trading Companies & Distributors—0.4% TJX Cos., Inc. (The) ...... 34,500 2,325,990 Ashtead Group plc ...... 28,038 2,082,552 Tractor Supply Co. (b) ...... 3,285 611,207 Brenntag SE ...... 9,641 896,612 Ulta Beauty, Inc. (a) ...... 1,629 563,259 Bunzl plc ...... 21,030 695,393 USS Co., Ltd...... 13,402 233,692 Fastenal Co...... 16,500 858,000 Yamada Holdings Co., Ltd...... 42,221 194,921 Ferguson plc ...... 14,044 1,954,909 ITOCHU Corp...... 74,176 2,132,169 32,574,713 Marubeni Corp...... 97,607 848,388 Mitsubishi Corp...... 78,806 2,146,629 Technology Hardware, Storage & Peripherals—1.7% Mitsui & Co., Ltd...... 96,437 2,169,850 Apple, Inc...... 454,237 62,212,300 MonotaRO Co., Ltd...... 15,498 367,112 Brother Industries, Ltd...... 14,727 293,769 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-16 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Trading Companies & Distributors—(Continued) U.S. Treasury—(Continued) Reece, Ltd...... 18,140 $ 322,167 U.S. Treasury Bonds Sumitomo Corp...... 70,273 940,159 1.375%, 08/15/50 (b) ...... 1,588,500 $ 1,339,118 Toyota Tsusho Corp...... 13,256 625,303 1.625%, 11/15/50 (b) ...... 13,519,300 12,142,021 United Rentals, Inc. (a) ...... 2,100 669,921 2.000%, 02/15/50 ...... 5,086,000 4,996,598 WW Grainger, Inc...... 1,320 578,160 2.250%, 08/15/46 ...... 21,188,000 21,908,061 17,287,324 2.250%, 08/15/49 ...... 4,420,000 4,578,844 2.375%, 11/15/49 ...... 4,905,000 5,223,059 Transportation Infrastructure—0.1% 2.375%, 05/15/51 ...... 972,000 1,037,762 Aena SME S.A. (a) ...... 4,680 767,376 2.500%, 02/15/45 ...... 5,830,000 6,307,787 Aeroports de Paris (a) ...... 1,853 241,557 2.750%, 08/15/42 ...... 5,415,000 6,101,817 Atlantia S.p.A. (a) ...... 30,918 560,300 2.750%, 08/15/47 ...... 2,445,700 2,781,984 Auckland International Airport, Ltd. (a) ...... 78,113 396,919 2.875%, 05/15/43 ...... 5,779,000 6,646,301 Getlink SE ...... 27,457 428,350 2.875%, 08/15/45 (b) ...... 31,698,000 36,643,383 Sydney Airport (a) ...... 82,519 358,419 2.875%, 05/15/49 ...... 3,925,000 4,596,083 Transurban Group ...... 170,859 1,827,596 3.000%, 05/15/45 ...... 1,395,000 1,645,119 3.000%, 02/15/47 ...... 3,410,000 4,050,973 4,580,517 3.000%, 05/15/47 ...... 3,783,000 4,498,371 3.000%, 02/15/48 ...... 2,120,000 2,527,106 Water Utilities—0.0% 3.000%, 08/15/48 (b) ...... 9,960,600 11,892,801 American Water Works Co., Inc...... 5,176 797,777 3.000%, 02/15/49 ...... 2,920,500 3,496,500 Severn Trent plc ...... 14,906 515,594 3.125%, 11/15/41 ...... 7,070,000 8,427,661 United Utilities Group plc ...... 42,551 573,837 3.125%, 02/15/42 (b) ...... 5,645,000 6,733,647 1,887,208 3.125%, 02/15/43 ...... 8,504,100 10,161,071 3.625%, 08/15/43 ...... 26,548,000 34,192,994 Wireless Telecommunication Services—0.4% 3.750%, 08/15/41 ...... 8,025,000 10,425,603 KDDI Corp...... 100,651 3,138,220 3.750%, 11/15/43 ...... 519,000 681,269 SoftBank Corp...... 179,239 2,344,600 4.375%, 05/15/41 (b) ...... 6,938,600 9,748,462 SoftBank Group Corp...... 78,246 5,479,590 4.500%, 08/15/39 ...... 318,000 448,355 T-Mobile U.S., Inc. (a) ...... 16,790 2,431,696 5.250%, 11/15/28 ...... 4,209,000 5,402,646 Tele2 AB - B Shares (b) ...... 31,254 425,918 5.500%, 08/15/28 ...... 5,990,000 7,748,393 Vodafone Group plc ...... 1,674,543 2,816,461 6.000%, 02/15/26 (g) ...... 33,774,000 41,753,107 6.125%, 11/15/27 ...... 7,239,000 9,486,200 16,636,485 6.250%, 08/15/23 ...... 4,620,000 5,203,275 Total Common Stocks 6.250%, 05/15/30 ...... 885,000 1,248,818 (Cost $1,390,025,945) ...... 2,300,132,457 6.375%, 08/15/27 ...... 2,790,000 3,671,684 6.875%, 08/15/25 ...... 2,640,000 3,302,372 U.S. Treasury Notes U.S. Treasury & Government Agencies—27.9% 0.125%, 11/30/22 (b) ...... 8,229,200 8,223,735 0.250%, 06/30/25 (b) ...... 16,917,000 16,616,987 Federal Agencies—1.0% 0.250%, 08/31/25 ...... 36,380,000 35,649,558 Federal Home Loan Bank 0.250%, 09/30/25 ...... 12,283,000 12,024,385 2.500%, 02/13/24 ...... 2,345,000 2,478,068 0.375%, 04/30/25 ...... 11,960,000 11,831,523 Federal Home Loan Mortgage Corp. 0.375%, 12/31/25 ...... 11,832,500 11,608,330 2.375%, 01/13/22 ...... 8,925,000 9,034,242 0.375%, 01/31/26 ...... 28,823,000 28,245,414 2.750%, 06/19/23 ...... 9,954,000 10,443,600 0.500%, 03/31/25 ...... 1,014,000 1,008,970 6.250%, 07/15/32 (b) ...... 2,480,000 3,643,118 0.500%, 02/28/26 (b) ...... 11,751,600 11,573,490 Federal National Mortgage Association 0.625%, 05/15/30 ...... 9,848,000 9,205,187 2.875%, 09/12/23 ...... 9,034,000 9,548,926 0.625%, 08/15/30 ...... 12,275,200 11,436,075 6.625%, 11/15/30 ...... 1,650,000 2,387,233 0.750%, 04/30/26 ...... 7,043,200 7,007,434 7.250%, 05/15/30 ...... 1,941,000 2,877,305 0.750%, 05/31/26 ...... 11,875,300 11,807,574 40,412,492 0.875%, 11/15/30 (b) ...... 23,054,500 21,923,389 1.125%, 02/15/31 (b) ...... 16,220,300 15,746,363 U.S. Treasury—26.9% 1.250%, 08/31/24 (b) ...... 9,254,000 9,472,337 U.S. Treasury Bonds 1.375%, 08/31/23 (b) ...... 8,951,000 9,162,537 1.250%, 05/15/50 ...... 3,695,000 3,017,054 1.500%, 09/30/24 (b) ...... 6,882,000 7,100,020 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-17 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

U.S. Treasury—(Continued) Sovereign—(Continued) U.S. Treasury Notes Belgium Government Bonds 1.500%, 10/31/24 (b) ...... 8,465,000 $ 8,734,822 0.900%, 06/22/29 (144A) (EUR) ...... 1,300,000 $ 1,670,651 1.500%, 11/30/24 ...... 17,311,700 17,862,834 1.600%, 06/22/47 (144A) (EUR) ...... 1,319,400 1,846,191 1.500%, 08/15/26 ...... 2,176,300 2,240,909 2.600%, 06/22/24 (144A) (EUR) ...... 2,327,195 3,026,633 1.500%, 02/15/30 ...... 6,669,000 6,734,908 4.250%, 03/28/41 (144A) (EUR) ...... 1,455,000 2,896,488 1.625%, 11/15/22 (g) ...... 48,926,000 49,912,165 5.000%, 03/28/35 (144A) (EUR) ...... 355,000 689,489 1.625%, 02/15/26 (b) ...... 12,482,100 12,938,477 5.500%, 03/28/28 (EUR) ...... 3,175,800 5,271,671 1.625%, 08/15/29 (b) ...... 10,034,000 10,262,509 Bundesrepublik Deutschland Bundesanleihe 1.625%, 05/15/31 ...... 4,882,800 4,957,568 Zero Coupon, 02/15/31 (EUR) ...... 2,713,000 3,295,459 1.750%, 05/15/23 ...... 49,747,800 51,146,957 Zero Coupon, 08/15/50 (EUR) ...... 485,000 528,623 1.750%, 07/31/24 (b) ...... 6,767,000 7,032,129 0.500%, 02/15/26 (EUR) ...... 10,332,518 12,894,544 1.750%, 11/15/29 (b) ...... 12,100,200 12,489,675 1.250%, 08/15/48 (EUR) ...... 1,298,000 1,941,404 1.875%, 08/31/22 ...... 7,977,100 8,138,512 1.500%, 05/15/24 (EUR) ...... 1,965,000 2,478,327 1.875%, 10/31/22 ...... 8,498,000 8,693,188 2.000%, 08/15/23 (EUR) ...... 681,529 854,865 2.000%, 11/30/22 ...... 8,542,000 8,762,891 2.500%, 07/04/44 (EUR) ...... 2,224,600 4,046,115 2.000%, 02/15/23 ...... 18,095,100 18,623,816 3.250%, 07/04/42 (EUR) ...... 387,500 761,094 2.000%, 05/31/24 (b) ...... 15,820,000 16,532,518 4.250%, 07/04/39 (EUR) ...... 1,677,500 3,504,361 2.000%, 02/15/25 (b) ...... 24,920,600 26,166,630 5.500%, 01/04/31 (EUR) ...... 5,479,600 10,184,329 2.000%, 08/15/25 ...... 17,740,000 18,668,578 Canadian Government Bonds 2.000%, 11/15/26 ...... 12,417,100 13,103,921 1.500%, 06/01/26 (CAD) ...... 3,802,000 3,142,907 2.125%, 12/31/22 (b) ...... 8,530,000 8,777,903 2.750%, 06/01/22 (CAD) ...... 1,870,000 1,542,856 2.125%, 11/30/23 (b) ...... 22,408,000 23,376,971 3.500%, 12/01/45 (CAD) ...... 1,869,000 2,015,462 2.125%, 03/31/24 (b) ...... 6,646,000 6,958,050 4.000%, 06/01/41 (CAD) ...... 975,000 1,089,151 2.125%, 05/15/25 (b) ...... 47,369,000 50,016,853 5.750%, 06/01/29 (CAD) ...... 2,369,000 2,557,320 2.250%, 04/30/24 ...... 7,735,000 8,131,419 Denmark Government Bonds 2.250%, 11/15/24 ...... 16,668,500 17,620,428 0.500%, 11/15/29 (144A) (DKK) ...... 4,004,000 670,316 2.250%, 11/15/25 ...... 9,607,000 10,220,947 1.500%, 11/15/23 (DKK) ...... 13,692,600 2,289,772 2.250%, 02/15/27 ...... 10,237,000 10,941,194 4.500%, 11/15/39 (DKK) ...... 4,060,000 1,138,658 2.250%, 08/15/27 ...... 5,941,000 6,353,621 Finland Government Bonds 2.250%, 11/15/27 ...... 15,786,000 16,886,087 0.500%, 04/15/26 (144A) (EUR) ...... 2,841,000 3,530,731 2.375%, 08/15/24 ...... 2,028,700 2,147,807 1.375%, 04/15/47 (144A) (EUR) ...... 429,000 620,840 2.375%, 05/15/27 ...... 6,780,500 7,299,367 French Republic Government Bond OAT 2.375%, 05/15/29 ...... 13,350,900 14,406,977 Zero Coupon, 05/25/22 (EUR) ...... 2,693,000 3,211,363 2.500%, 01/31/24 (b) ...... 4,224,100 4,456,590 0.500%, 05/25/26 (EUR) ...... 5,972,399 7,409,645 2.625%, 02/15/29 ...... 9,095,000 9,973,236 1.000%, 11/25/25 (EUR) ...... 7,994,406 10,102,352 2.750%, 11/15/23 ...... 25,091,500 26,531,321 1.250%, 05/25/36 (144A) (EUR) ...... 2,719,800 3,610,843 2.750%, 02/15/28 ...... 2,396,000 2,639,999 1.500%, 05/25/50 (144A) (EUR) ...... 802,000 1,104,787 2.875%, 05/15/28 ...... 4,159,000 4,620,064 2.250%, 05/25/24 (EUR) ...... 2,032,800 2,611,897 3.125%, 11/15/28 ...... 10,546,600 11,931,253 2.500%, 05/25/30 (EUR) ...... 12,579,800 18,307,288 1,090,002,701 3.250%, 05/25/45 (EUR) ...... 6,947,900 12,827,797 4.000%, 04/25/60 (EUR) ...... 398,000 932,989 Total U.S. Treasury & Government Agencies Ireland Government Bonds (Cost $1,066,081,265) ...... 1,130,415,193 0.200%, 10/18/30 (EUR) ...... 1,185,000 1,421,874 2.000%, 02/18/45 (EUR) ...... 644,000 977,972 Foreign Government—11.1% 5.400%, 03/13/25 (EUR) ...... 3,555,800 5,139,776 Italy Buoni Poliennali Del Tesoro Sovereign—11.1% 1.350%, 04/15/22 (EUR) ...... 1,304,000 1,568,515 Australia Government Bonds 1.650%, 12/01/30 (144A) (EUR) ...... 3,610,000 4,633,259 1.750%, 06/21/51 (AUD) ...... 593,000 392,717 1.800%, 03/01/41 (144A) (EUR) ...... 10,000 12,380 2.500%, 05/21/30 (AUD) ...... 4,482,000 3,676,590 2.200%, 06/01/27 (EUR) ...... 3,880,000 5,121,879 3.000%, 03/21/47 (AUD) ...... 305,000 261,734 3.750%, 09/01/24 (EUR) ...... 13,007,000 17,341,680 3.250%, 04/21/29 (AUD) ...... 1,346,000 1,160,994 3.850%, 09/01/49 (144A) (EUR) ...... 3,125,000 5,396,460 3.750%, 04/21/37 (AUD) ...... 1,486,000 1,394,054 5.000%, 08/01/39 (144A) (EUR) ...... 4,588,000 8,555,836 4.750%, 04/21/27 (AUD) ...... 5,600,000 5,110,693 5.250%, 11/01/29 (EUR) ...... 9,739,200 15,937,889 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-18 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Sovereign—(Continued) Sovereign—(Continued) Japan Government Forty Year Bond Sweden Government Bonds 1.700%, 03/20/54 (JPY) 63,950,000 $ 739,148 1.000%, 11/12/26 (SEK) ...... 15,990,000 $ 1,970,159 Japan Government Ten Year Bonds 1.500%, 11/13/23 (144A) (SEK) ...... 3,330,000 405,206 0.100%, 09/20/26 (JPY) ...... 1,875,600,000 17,046,443 Swiss Confederation Government Bond 0.100%, 12/20/29 (JPY) ...... 767,550,000 6,970,165 4.000%, 02/11/23 (CHF) ...... 415,000 483,234 0.500%, 12/20/24 (JPY) ...... 1,601,350,000 14,728,470 United Kingdom Gilt 0.800%, 09/20/22 (JPY) ...... 657,700,000 5,985,399 0.375%, 10/22/30 (GBP) ...... 2,254,000 3,011,948 Japan Government Thirty Year Bonds 0.625%, 06/07/25 (GBP) ...... 2,535,000 3,558,533 1.750%, 09/07/22 (GBP) ...... 1,011,178 1,426,818 0.400%, 12/20/49 (JPY) ...... 838,350,000 7,022,686 1.750%, 01/22/49 (GBP) ...... 881,000 1,364,874 0.500%, 09/20/46 (JPY) ...... 1,511,600,000 13,347,171 2.250%, 09/07/23 (GBP) ...... 1,170,000 1,695,054 1.800%, 09/20/43 (JPY) ...... 796,250,000 9,096,580 3.250%, 01/22/44 (GBP) ...... 2,120,900 4,105,590 1.900%, 09/20/42 (JPY) ...... 394,900,000 4,562,953 4.250%, 12/07/46 (GBP) ...... 8,422,100 19,304,684 2.300%, 03/20/40 (JPY) ...... 554,550,000 6,684,101 6.000%, 12/07/28 (GBP) ...... 3,478,400 6,707,700 Japan Government Twenty Year Bonds 0.500%, 09/20/36 (JPY) ...... 1,082,900,000 10,075,712 Total Foreign Government (Cost $429,643,631) ...... 451,378,430 1.500%, 03/20/33 (JPY) ...... 230,600,000 2,403,101 1.700%, 12/20/31 (JPY) ...... 846,700,000 8,899,743 1.700%, 09/20/32 (JPY) ...... 182,400,000 1,930,785 Preferred Stocks—0.2% 1.700%, 09/20/33 (JPY) ...... 418,500,000 4,469,977 2.100%, 06/20/29 (JPY) ...... 555,050,000 5,844,775 Automobiles—0.1% 2.100%, 12/20/29 (JPY) ...... 555,900,000 5,894,857 Bayerische Motoren Werke (BMW) AG ...... 3,510 315,480 Mexican Bonos Porsche Automobil Holding SE ...... 9,555 1,023,861 10.000%, 11/20/36 (MXN) ...... 40,732,100 2,574,340 Volkswagen AG ...... 11,581 2,904,231 Government Bonds 4,243,572 Zero Coupon, 07/15/31 (144A) (EUR) ...... 740,000 885,533 2.250%, 07/15/22 (144A) (EUR) ...... 2,130,000 2,602,533 Chemicals—0.0% 2.750%, 01/15/47 (144A) (EUR) ...... 351,000 671,655 FUCHS Petrolub SE ...... 4,247 206,854 3.750%, 01/15/42 (144A) (EUR) ...... 1,396,600 2,842,026 5.500%, 01/15/28 (144A) (EUR) ...... 4,131,500 6,811,409 Health Care Equipment & Supplies—0.0% Norway Government Bond Sartorius AG ...... 1,636 851,605 3.000%, 03/14/24 (144A) (NOK) ...... 10,370,000 1,272,368 Poland Government Bond Household Products—0.1% 5.750%, 04/25/29 (PLN) ...... 6,492,000 2,224,272 Henkel AG & Co. KGaA ...... 11,118 1,173,832 Republic of Austria Government Bonds Total Preferred Stocks Zero Coupon, 02/20/31 (144A) (EUR) ...... 777,000 921,182 (Cost $4,732,997) ...... 6,475,863 0.750%, 10/20/26 (144A) (EUR) ...... 3,060,000 3,854,807 3.150%, 06/20/44 (144A) (EUR) ...... 1,960,000 3,687,072 Rights—0.0% 3.400%, 11/22/22 (144A) (EUR) ...... 1,740,000 2,179,471 4.150%, 03/15/37 (144A) (EUR) ...... 267,000 505,951 Engineering & Construction—0.0% Singapore Government Bonds ACS Actividades de Construccion y Servicios S.A. (a) (b) 2.125%, 06/01/26 (SGD) ...... 3,378,000 2,655,449 (Cost $22,007) ...... 14,539 20,343 2.750%, 03/01/46 (SGD) ...... 305,000 263,334 3.375%, 09/01/33 (SGD) ...... 731,000 639,292 Spain Government Bonds Short-Term Investment—1.6% 0.350%, 07/30/23 (EUR) ...... 2,380,000 2,871,523 1.000%, 10/31/50 (144A) (EUR) ...... 1,396,000 1,494,666 Repurchase Agreement—1.6% Fixed Income Clearing Corp. 1.450%, 10/31/27 (144A) (EUR) ...... 7,555,000 9,799,478 Repurchase Agreement dated 06/30/21 at 0.000%, due on 1.950%, 07/30/30 (144A) (EUR) ...... 3,791,000 5,156,073 07/01/21 with a maturity value of $64,684,823; 2.900%, 10/31/46 (144A) (EUR) ...... 1,182,000 1,890,851 collateralized by U.S. Treasury Note at 0.625%, maturing 4.200%, 01/31/37 (144A) (EUR) ...... 1,045,000 1,849,742 01/15/24, with a market value of $65,978,599...... 64,684,823 64,684,823 4.400%, 10/31/23 (144A) (EUR) ...... 1,028,000 1,359,111 4.700%, 07/30/41 (144A) (EUR) ...... 2,112,000 4,137,514 Total Short-Term Investments (Cost $64,684,823) ...... 64,684,823 6.000%, 01/31/29 (EUR) ...... 3,371,400 5,781,392 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-19 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (h)—8.5%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Certificates of Deposit—2.6% Repurchase Agreements—(Continued) Agricultural Bank of China Barclays Bank plc 0.100%, 07/01/21 ...... 800,000 $ 799,999 Repurchase Agreement dated 06/30/21 at 0.360%, due on Bank of Montreal 08/04/21 with a maturity value of $7,002,450; collateralized by Zero Coupon, 09/20/21 ...... 3,997,934 3,998,720 various Common Stock with an aggregate market value of Bank of Montreal (Chicago) $7,779,342...... 7,000,000 $ 7,000,000 0.176%, 1M BSBY + 0.120%, 12/01/21 (i) ...... 3,000,000 3,000,037 Barclays Capital, Inc. 0.222%, 3M LIBOR + 0.060%, 08/10/21 (i) ...... 2,000,000 2,000,174 Repurchase Agreement dated 06/30/21 at 0.030%, due on Bank of Nova Scotia 07/01/21 with a maturity value of $34,834,267; collateralized 0.212%, 3M LIBOR + 0.050%, 11/08/21 (i) ...... 4,000,000 3,998,828 by U.S. Treasury Obligations at 0.000%, maturity dates ranging Barclays Bank plc from 05/15/29 - 11/15/43, and an aggregate market value of 0.100%, 09/09/21 ...... 12,000,000 11,999,052 $35,530,923...... 34,834,238 34,834,238 China Construction Bank Corp. BofA Securities, Inc. 0.110%, 07/14/21 ...... 5,000,000 4,999,865 Repurchase Agreement dated 06/30/21 at 0.360%, due on Credit Industriel et Commercial 08/04/21 with a maturity value of $8,002,800; collateralized by Zero Coupon, 10/12/21 ...... 7,996,448 7,996,720 various Common Stock with an aggregate market value of Industrial & Commercial Bank of China Ltd. $8,800,002...... 8,000,000 8,000,000 0.110%, 07/22/21 ...... 10,000,000 9,999,570 Citigroup Global Markets, Inc. Mitsubishi UFJ Trust and Banking Corp. (London) Repurchase Agreement dated 06/30/21 at 0.060%, due on Zero Coupon, 07/27/21 ...... 5,997,120 5,999,460 07/01/21 with a maturity value of $10,000,017; collateralized Zero Coupon, 08/11/21 ...... 1,999,131 1,999,680 by U.S. Treasury Obligations with rates ranging from 0.125% - MUFG Bank Ltd. 6.125%, maturity dates ranging from 08/15/29 - 02/15/31, Zero Coupon, 09/02/21 ...... 1,997,958 1,999,500 and an aggregate market value of $10,200,003...... 10,000,000 10,000,000 Natixis S.A. (New York) Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.208%, 3M LIBOR + 0.040%, 02/11/22 (i) ...... 8,000,000 7,999,872 08/04/21 with a maturity value of $1,000,418; collateralized by Oversea-Chinese Banking Corp., Ltd. U.S. Treasury Obligations at 2.000%, maturing 11/30/22, and 0.167%, 3M LIBOR + 0.020%, 03/25/22 (i) ...... 8,000,000 8,000,032 various Common Stock with an aggregate market value of Rabobank International London $1,098,227...... 1,000,000 1,000,000 0.266%, 3M LIBOR + 0.080%, 07/30/21 (i) ...... 2,000,000 2,000,300 Repurchase Agreement dated 06/30/21 at 0.430%, due on Royal Bank of Canada New York 08/04/21 with a maturity value of $13,005,434; collateralized 0.221%, 3M LIBOR + 0.090%, 12/02/21 (i) ...... 3,000,000 3,001,353 by U.S. Treasury Obligations at 0.125%, maturing 05/31/23, and 0.240%, 3M LIBOR + 0.040%, 10/05/21 (i) ...... 2,000,000 2,000,354 various Common Stock with an aggregate market value of Sumitomo Mitsui Banking Corp. $14,295,485...... 13,000,000 13,000,000 0.158%, 3M LIBOR + 0.030%, 09/10/21 (i) ...... 7,000,000 7,000,168 Deutsche Bank AG, London Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 08/09/21 ...... 999,323 999,850 Repurchase Agreement dated 06/30/21 at 0.170%, due on Zero Coupon, 09/14/21 ...... 1,998,943 1,999,400 07/01/21 with a maturity value of $100,000; collateralized by Zero Coupon, 09/20/21 ...... 4,993,679 4,998,400 U.S. Treasury and Foreign Obligations with rates ranging from Toronto-Dominion Bank 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 0.267%, 3M LIBOR + 0.070%, 10/08/21 (i) ...... 3,000,000 2,999,735 03/11/31, and an aggregate market value of $102,000...... 100,000 100,000 0.330%, 3M LIBOR + 0.130%, 07/02/21 (i) ...... 5,000,000 5,000,040 Repurchase Agreement dated 06/30/21 at 0.230%, due on 07/01/21 with a maturity value of $10,000,064; collateralized 104,791,109 by various Common Stock with an aggregate market value of $11,112,278...... 10,000,000 10,000,000 Commercial Paper—0.3% HSBC Bank plc Antalis S.A. Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.170%, 09/01/21 ...... 4,997,497 4,998,395 07/01/21 with a maturity value of $1,100,003; collateralized by 0.200%, 07/06/21 ...... 1,998,978 1,999,952 U.S. Treasury Obligations with rates ranging from 0.099% - Bedford Row Funding Corp. 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, 0.266%, 3M LIBOR + 0.080%, 10/21/21 (i) ...... 4,000,000 4,001,624 and an aggregate market value of $1,122,452...... 1,100,000 1,100,000 10,999,971 National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.210%, due on Repurchase Agreements—4.0% 07/07/21 with a maturity value of $25,001,021; collateralized Barclays Bank plc by various Common Stock with an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.200%, due on $27,777,940...... 25,000,000 25,000,000 07/01/21 with a maturity value of $13,500,075; collateralized by various Common Stock with an aggregate market value of $15,001,150...... 13,500,000 13,500,000 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-20 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (h)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal (a) Non-income producing security. Security Description Amount* Value (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value of securities loaned was $345,158,006 and the collateral received consisted of cash in Repurchase Agreements—(Continued) the amount of $346,911,249 and non-cash collateral with a value of $7,743,572. The NBC Global Finance, Ltd. cash collateral investments are disclosed in the Consolidated Schedule of Investments Repurchase Agreement dated 06/30/21 at 0.245%, due on and categorized as Securities Lending Reinvestments. The non-cash collateral received 07/07/21 with a maturity value of $2,500,119; collateralized consists of U.S. government securities that are held in safe-keeping by the lending by U.S. Treasury Obligations with rates ranging from 1.875% - agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. As 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, such, this collateral is excluded from the Consolidated Statement of Assets and and various Common Stock with an aggregate market value of Liabilities. $2,777,779...... 2,500,000 $ 2,500,000 (c) Security was valued in good faith under procedures approved by the Board of Trustees. Repurchase Agreement dated 06/30/21 at 0.260%, due on As of June 30, 2021, these securities represent less than 0.05% of net assets. 07/07/21 with a maturity value of $7,400,374; collateralized (d) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. by U.S. Treasury Obligations with rates ranging from 2.125% - Level 3. 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, (e) All or a portion of the security was pledged as collateral against open futures contracts. and various Common Stock with an aggregate market value of As of June 30, 2021, the market value of securities pledged was $155,688,646. $8,223,675...... 7,400,000 7,400,000 (f) Affiliated Issuer. (See Note 8 of the Notes to Consolidated Financial Statements for a Societe Generale summary of transactions in securities of affiliated issuers.) Repurchase Agreement dated 06/30/21 at 0.180%, due on (g) All or a portion of the security was pledged as collateral against open centrally cleared 07/01/21 with a maturity value of $29,200,146; swap contracts. As of June 30, 2021, the market value of securities pledged was collateralized by various Common Stock with an aggregate $66,611,719. market value of $32,445,121...... 29,200,000 29,200,000 (h) Represents investment of cash collateral received from securities on loan as of June 30, 162,634,238 2021. (i) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Time Deposits—1.4% Maturity date shown for callable securities reflects the earliest possible call date. For ABN AMRO Bank NV securities based on a published reference index and spread, the index and spread are 0.080%, 07/01/21 ...... 5,000,000 5,000,000 indicated in the description above. For certain variable rate securities, the coupon rate is 0.080%, 07/01/21 ...... 10,500,000 10,500,000 determined by the issuer/agent based on current market conditions. For certain asset- DZ Bank AG and mortgage-backed securities, the coupon rate may fluctuate based on changes of the 0.040%, 07/01/21 ...... 10,000,000 10,000,000 underlying collateral or prepayments of principal. These securities do not indicate a Landesbank Baden-Wuettertemberg (London) reference index and spread in their description above. 0.130%, 07/01/21 ...... 2,000,000 2,000,000 (j) The rate shown represents the annualized seven-day yield as of June 30, 2021. 0.130%, 07/01/21 ...... 10,000,000 10,000,000 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. National Bank of Canada These securities may be resold in transactions exempt from registration, normally to 0.130%, OBFR + 0.050%, 07/07/21 (i) ...... 4,000,000 4,000,000 qualified institutional buyers. As of June 30, 2021, the market value of 144A securities Rabobank (New York) was $90,591,552, which is 2.2% of net assets. 0.050%, 07/01/21 ...... 11,500,000 11,500,000 Royal Bank of Canada 0.030%, 07/01/21 ...... 5,500,000 5,500,000 58,500,000

Mutual Funds—0.2% STIT-Government & Agency Portfolio, Institutional Class 0.030% (j) ...... 10,000,000 10,000,000 Total Securities Lending Reinvestments (Cost $346,922,808) ...... 346,925,318 Total Investments—106.0% (Cost $3,302,113,476) ...... 4,300,032,427 Other assets and liabilities (net)—(6.0)% ...... (244,113,057) Net Assets—100.0% ...... $4,055,919,370

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-21 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) AUD 2,769,742 ANZ ...... 08/25/21 USD 2,128,209 $ (50,545) CAD 62,343 BNP ...... 07/16/21 USD 51,678 (1,386) CAD 71,694 BNP ...... 07/16/21 USD 59,556 (1,720) CAD 138,460 BNP ...... 07/16/21 USD 114,775 (3,079) CAD 159,229 BNP ...... 07/16/21 USD 132,270 (3,820) CAD 561,083 BNP ...... 07/16/21 USD 465,106 (12,478) CAD 645,245 BNP ...... 07/16/21 USD 536,001 (15,480) CAD 1,246,139 BNP ...... 07/16/21 USD 1,032,978 (27,714) CAD 1,433,060 BNP ...... 07/16/21 USD 1,190,434 (34,380) CAD 3,051,594 BNP ...... 07/16/21 USD 2,453,792 7,939 CAD 6,648,277 BNP ...... 07/16/21 USD 5,368,901 (5,712) CAD 9,593,738 BOA ...... 07/16/21 USD 7,746,850 (7,548) CAD 9,699,871 BOA ...... 07/16/21 USD 7,830,610 (5,690) CAD 7,169 BBP ...... 07/16/21 USD 5,944 (160) CAD 15,923 BBP ...... 07/16/21 USD 13,201 (356) CAD 62,343 BBP ...... 07/16/21 USD 51,687 (1,395) CAD 64,524 BBP ...... 07/16/21 USD 53,496 (1,444) CAD 138,460 BBP ...... 07/16/21 USD 114,794 (3,098) CAD 143,306 BBP ...... 07/16/21 USD 118,812 (3,207) CAD 561,083 BBP ...... 07/16/21 USD 465,182 (12,554) CAD 1,246,139 BBP ...... 07/16/21 USD 1,033,147 (27,883) CAD 71,694 CBNA ...... 07/16/21 USD 59,524 (1,688) CAD 159,229 CBNA ...... 07/16/21 USD 132,200 (3,750) CAD 645,245 CBNA ...... 07/16/21 USD 535,716 (15,195) CAD 1,433,060 CBNA ...... 07/16/21 USD 1,189,801 (33,747) CAD 97,722 CSI ...... 07/16/21 USD 81,226 (2,393) CAD 217,037 CSI ...... 07/16/21 USD 180,399 (5,315) CAD 879,500 CSI ...... 07/16/21 USD 731,032 (21,536) CAD 1,953,329 CSI ...... 07/16/21 USD 1,623,588 (47,831) CAD 58,199,225 CSI ...... 07/16/21 USD 46,974,904 (25,384) CAD 71,694 DBAG ...... 07/16/21 USD 59,552 (1,717) CAD 159,229 DBAG ...... 07/16/21 USD 132,263 (3,813) CAD 645,245 DBAG ...... 07/16/21 USD 535,971 (15,450) CAD 733,044 DBAG ...... 07/16/21 USD 607,532 (16,183) CAD 1,433,060 DBAG ...... 07/16/21 USD 1,190,368 (34,314) CAD 1,628,058 DBAG ...... 07/16/21 USD 1,349,301 (35,941) CAD 71,694 GSBU ...... 07/16/21 USD 59,550 (1,714) CAD 159,229 GSBU ...... 07/16/21 USD 132,258 (3,807) CAD 645,245 GSBU ...... 07/16/21 USD 535,949 (15,428) CAD 1,433,060 GSBU ...... 07/16/21 USD 1,190,318 (34,264) CAD 71,694 JPMC ...... 07/16/21 USD 59,465 (1,629) CAD 159,229 JPMC ...... 07/16/21 USD 132,069 (3,619) CAD 645,245 JPMC ...... 07/16/21 USD 535,185 (14,664) CAD 1,433,060 JPMC ...... 07/16/21 USD 1,188,622 (32,568) CAD 71,694 MSIP ...... 07/16/21 USD 59,441 (1,606) CAD 159,229 MSIP ...... 07/16/21 USD 132,017 (3,566) CAD 645,245 MSIP ...... 07/16/21 USD 534,972 (14,451) CAD 1,433,060 MSIP ...... 07/16/21 USD 1,188,149 (32,094) EUR 154,147 SSBT ...... 08/03/21 USD 184,262 (1,362) EUR 419,831 SSBT ...... 08/03/21 USD 497,804 339 EUR 629,712 SSBT ...... 08/03/21 USD 771,561 (24,386) EUR 1,053,521 SSBT ...... 08/03/21 USD 1,259,719 (9,681) JPY 1,290,203,307 BNP ...... 08/19/21 USD 11,667,689 (49,609) JPY 24,487,739 SSBT ...... 08/19/21 USD 221,316 (808) MXN 3,480,806 SSBT ...... 08/27/21 USD 167,484 5,937 NOK 144,150,415 MSIP ...... 07/15/21 USD 16,825,499 (82,484) NOK 97,083,204 NWM ...... 07/15/21 USD 11,843,662 (567,485) NZD 11,784,637 NWM ...... 07/29/21 USD 8,424,684 (187,713) §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-22 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) SEK 324,289,000 BNP ...... 07/15/21 USD 38,054,273 $ (156,961) SEK 38,347,500 CBNA ...... 07/15/21 USD 4,539,328 (57,932) SEK 38,347,500 HSBCU ...... 07/15/21 USD 4,540,020 (58,625) SEK 96,925,020 HSBCU ...... 07/15/21 USD 11,577,804 (250,877)

Contracts to Deliver AUD 19,731,077 ANZ ...... 08/25/21 USD 15,290,203 489,355 AUD 59,270,369 MSIP ...... 08/25/21 USD 45,921,022 1,460,612 CAD 1,832,611 BOA ...... 07/16/21 USD 1,454,399 (23,975) CAD 13,234,658 CBNA ...... 07/16/21 USD 10,572,671 (103,774) CAD 1,832,611 GSBU ...... 07/16/21 USD 1,453,053 (25,321) CAD 1,832,611 HSBCU ...... 07/16/21 USD 1,451,086 (27,288) CAD 8,140,291 MSIP ...... 07/16/21 USD 6,722,138 155,337 CAD 1,832,611 SCB ...... 07/16/21 USD 1,460,621 (17,752) CAD 485,801 SSBT ...... 07/16/21 USD 398,392 6,494 CAD 8,140,291 UBSA ...... 07/16/21 USD 6,719,961 153,160 CHF 9,754,668 CSI ...... 08/05/21 USD 10,894,007 341,796 CHF 60,308,198 GSBU ...... 08/05/21 USD 66,177,842 938,838 CHF 13,464,673 MSIP ...... 08/05/21 USD 15,000,611 435,065 CHF 462,190 SSBT ...... 08/05/21 USD 507,619 7,640 CHF 9,258,792 UBSA ...... 08/05/21 USD 10,073,770 57,978 DKK 25,522,281 JPMC ...... 07/15/21 USD 4,104,320 33,604 EUR 72,107,696 BNP ...... 08/03/21 USD 87,505,321 1,947,136 EUR 9,394,074 BOA ...... 08/03/21 USD 11,451,902 305,520 EUR 1,023,815 BOA ...... 08/03/21 USD 1,242,425 27,634 EUR 40,648,957 CBNA ...... 08/03/21 USD 48,316,854 85,512 EUR 1,346,748 CBNA ...... 08/03/21 USD 1,633,892 35,930 EUR 206,468,309 HSBCU ...... 08/03/21 USD 253,279,217 8,297,684 EUR 50,702,956 HSBCU ...... 08/03/21 USD 62,198,431 2,037,684 EUR 10,578,017 NWM ...... 08/03/21 USD 12,587,735 36,565 EUR 1,603,235 UBSA ...... 08/03/21 USD 1,957,053 54,761 GBP 34,435,517 CBNA ...... 08/26/21 USD 48,490,270 849,544 GBP 29,600,693 CBNA ...... 08/26/21 USD 41,682,126 730,266 GBP 41,777,000 GSBU ...... 08/26/21 USD 58,956,663 1,159,169 GBP 6,446,636 NWM ...... 08/26/21 USD 8,926,560 7,791 JPY 426,084,787 CBNA ...... 08/19/21 USD 3,894,321 57,494 JPY 204,345,667 HSBCU ...... 08/19/21 USD 1,840,556 455 JPY 13,728,906,785 MSIP ...... 08/19/21 USD 126,154,774 2,528,115 JPY 10,005,056,513 MSIP ...... 08/19/21 USD 91,017,530 923,561 JPY 1,315,702,659 MSIP ...... 08/19/21 USD 12,082,971 235,275 JPY 55,490,434 MSIP ...... 08/19/21 USD 504,238 4,556 MXN 57,936,301 CBNA ...... 08/27/21 USD 2,856,946 (29,563) NOK 10,219,551 BOA ...... 07/15/21 USD 1,201,919 14,922 NOK 9,401,784 BOA ...... 07/15/21 USD 1,126,584 34,571 NOK 4,700,892 BOA ...... 07/15/21 USD 564,928 18,921 NOK 9,401,784 DBAG ...... 07/15/21 USD 1,128,535 36,521 NOK 4,700,892 GSBU ...... 07/15/21 USD 565,342 19,335 NOK 9,401,784 MSIP ...... 07/15/21 USD 1,125,309 33,295 PLN 7,189,934 BBH ...... 09/17/21 USD 1,891,949 5,878 SEK 26,088,911 BNP ...... 07/15/21 USD 3,051,304 2,481 SEK 13,888,753 BNP ...... 07/15/21 USD 1,614,364 (8,715) SEK 18,964,440 BOA ...... 07/15/21 USD 2,218,607 2,370 SEK 239,865,982 JPMC ...... 07/15/21 USD 27,894,069 (137,334) SEK 48,212,676 MSIP ...... 07/15/21 USD 5,836,047 201,780 SEK 39,977,664 MSIP ...... 07/15/21 USD 4,671,224 (677) SGD 4,464,518 BNP ...... 08/19/21 USD 3,348,723 28,652 Net Unrealized Appreciation ...... $21,351,834

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-23 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Australian 10 Year Treasury Bond Futures ...... 09/15/21 581 AUD 82,030,803 $ 246,365 Canada Government Bond 10 Year Futures ...... 09/21/21 484 CAD 70,431,680 562,507 Hang Seng Index Futures ...... 07/29/21 61 HKD 87,321,500 (193,428) MSCI EAFE Index Mini Futures ...... 09/17/21 3,005 USD 346,191,025 (9,303,963) MSCI Singapore Index Futures ...... 07/29/21 766 SGD 27,227,470 41,066 OMX Stockholm 30 Index Futures ...... 07/16/21 2,311 SEK 523,672,600 (631,843) Russell 2000 Index E-Mini Futures ...... 09/17/21 1,297 USD 149,660,830 (982,792) S&P 500 Index E-Mini Futures ...... 09/17/21 243 USD 52,106,490 935,756 S&P Midcap 400 Index E-Mini Futures ...... 09/17/21 554 USD 149,158,960 (1,737,808)

Futures Contracts—Short Euro Stoxx 50 Index Futures ...... 09/17/21 (4,845) EUR (196,488,975) 4,723,309 Euro-Bund Futures ...... 09/08/21 (636) EUR (109,779,960) (732,244) FTSE 100 Index Futures ...... 09/17/21 (382) GBP (26,665,510) 520,752 Japanese Government 10 Year Bond Futures ...... 09/13/21 (177) JPY (26,849,130,000) (550,716) SPI 200 Index Futures ...... 09/16/21 (489) AUD (88,301,175) 182,966 TOPIX Index Futures ...... 09/09/21 (442) JPY (8,588,060,000) 543,191 U.S. Treasury Note 10 Year Futures ...... 09/21/21 (869) USD (115,142,500) (73,621) United Kingdom Long Gilt Bond Futures ...... 09/28/21 (137) GBP (17,549,700) (193,460) Net Unrealized Depreciation ...... $(6,643,963)

Swap Agreements Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation)(1) Pay...... 3MLIBOR Quarterly 1.489% Semi-Annually 06/25/31 USD 1,012,580,000 $3,500,084 $— $3,500,084

OTC Total Return Swaps Upfront Unrealized Pay/Receive Fixed Payment Maturity Underlying Reference Notional Market Premium Appreciation/ Fixed Rate Rate Frequency Date Counterparty Instrument Amount Value Paid (Depreciation)(1) Pay...... 0.120% Quarterly 09/15/21 MSC Bloomberg Commodity Index USD 82,264,153 $875,586 $— $875,586

(1) There is no upfront payment premium paid or (received) therefore the market value equals unrealized appreciation.

Glossary of Abbreviations

Counterparties (ANZ)— Australia & New Zealand Banking Corp. (CSI)— Credit Suisse International (MSIP)— Morgan Stanley & Co. International plc (BBH)— Brown Brothers Harriman & Co. (DBAG)— Deutsche Bank AG (NWM)— NatWest Markets plc (BBP)— Barclays Bank plc (GSBU)— Goldman Sachs Bank USA (SCB)— Standard Chartered Bank (BNP)— BNP Paribas S.A. (HSBCU)—HSBC Bank USA (SSBT)— State Street Bank and Trust Co. (BOA)— Bank of America N.A. (JPMC)— JPMorgan Chase Bank N.A. (UBSA)— UBS AG (CBNA)— Citibank N.A. (MSC)— Morgan Stanley & Co.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-24 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations—(Continued)

Currencies (AUD)— Australian Dollar (GBP)— British Pound (NZD)— New Zealand Dollar (CAD)— Canadian Dollar (HKD)— Hong Kong Dollar (PLN)— Polish Zloty (CHF)— Swiss Franc (JPY)— Japanese Yen (SEK)— Swedish Krona (DKK)— Danish Krone (MXN)— Mexican Peso (SGD)— Singapore Dollar (EUR)— Euro (NOK)— Norwegian Krone (USD)— Dollar

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (OBFR)— U.S. Overnight Bank Funding Rate (LIBOR)— London Interbank Offered Rate

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

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $17,045,597 $12,041,028 $— $ 29,086,625 Air Freight & Logistics ...... 7,356,784 8,512,309 — 15,869,093 Airlines ...... 2,770,821 1,129,636 — 3,900,457 Auto Components ...... 1,546,759 9,455,007 — 11,001,766 Automobiles ...... 18,847,603 30,746,415 — 49,594,018 Banks ...... 44,981,335 89,605,101 0 134,586,436 Beverages ...... 15,476,180 22,396,819 — 37,872,999 Biotechnology ...... 18,632,516 9,402,204 — 28,034,720 Building Products ...... 5,289,531 12,554,775 — 17,844,306 Capital Markets ...... 32,223,345 29,343,096 — 61,566,441 Chemicals ...... 18,578,595 37,737,092 — 56,315,687 Commercial Services & Supplies ...... 4,189,147 3,643,183 — 7,832,330 Communications Equipment ...... 8,656,644 4,092,191 — 12,748,835 Construction & Engineering ...... 351,864 7,772,732 — 8,124,596 Construction Materials ...... 1,290,242 6,183,807 — 7,474,049 Consumer Finance ...... 6,934,973 106,233 — 7,041,206 Containers & Packaging ...... 3,498,148 829,686 — 4,327,834 Distributors ...... 1,433,128 — — 1,433,128 Diversified Financial Services ...... 15,269,481 8,480,328 — 23,749,809 Diversified Telecommunication Services ...... 12,967,263 20,294,210 — 33,261,473 Electric Utilities ...... 16,136,459 20,499,238 — 36,635,697 Electrical Equipment ...... 5,946,622 20,241,763 — 26,188,385 Electronic Equipment, Instruments & Components ...... 6,542,810 17,221,889 — 23,764,699 Energy Equipment & Services ...... 2,527,386 322,667 — 2,850,053 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-25 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Entertainment ...... $ 20,437,473 $ 8,767,968 $— $ 29,205,441 Equity Real Estate Investment Trusts ...... 146,393,974 59,723,112 — 206,117,086 Food & Staples Retailing ...... 14,117,716 14,212,624 — 28,330,340 Food Products ...... 9,672,446 34,832,283 — 44,504,729 Gas Utilities ...... 352,243 4,213,393 — 4,565,636 Health Care Equipment & Supplies ...... 37,771,505 22,580,973 — 60,352,478 Health Care Providers & Services ...... 27,812,710 5,032,470 0 32,845,180 Health Care Technology ...... 684,682 2,011,894 — 2,696,576 Hotels, Restaurants & Leisure ...... 18,672,599 15,983,194 — 34,655,793 Household Durables ...... 4,725,473 14,762,224 — 19,487,697 Household Products ...... 14,084,160 7,241,108 — 21,325,268 Independent Power and Renewable Electricity Producers ...... 500,153 507,953 — 1,008,106 Industrial Conglomerates ...... 12,556,202 16,675,352 — 29,231,554 Insurance ...... 19,286,851 50,633,029 — 69,919,880 Interactive Media & Services ...... 67,737,602 3,435,490 — 71,173,092 Internet & Direct Marketing Retail ...... 47,228,866 9,968,092 — 57,196,958 IT Services ...... 54,863,862 18,774,949 — 73,638,811 Leisure Products ...... 344,526 2,412,501 — 2,757,027 Life Sciences Tools & Services ...... 13,341,793 5,759,754 — 19,101,547 Machinery ...... 17,430,581 33,802,910 — 51,233,491 Marine ...... — 3,318,471 — 3,318,471 Media ...... 13,587,511 4,833,914 — 18,421,425 Metals & Mining ...... 3,831,321 34,989,139 — 38,820,460 Multi-Utilities ...... 7,663,693 9,222,712 — 16,886,405 Multiline Retail ...... 5,667,804 4,900,786 — 10,568,590 Oil, Gas & Consumable Fuels ...... 27,147,289 33,755,375 — 60,902,664 Paper & Forest Products ...... — 3,630,988 — 3,630,988 Personal Products ...... 2,105,690 21,809,525 — 23,915,215 Pharmaceuticals ...... 38,608,073 84,847,562 — 123,455,635 Professional Services ...... 4,272,973 17,200,157 — 21,473,130 Real Estate Management & Development ...... 1,315,672 53,884,405 — 55,200,077 Road & Rail ...... 10,104,544 7,130,395 — 17,234,939 Semiconductors & Semiconductor Equipment ...... 59,909,885 31,913,020 — 91,822,905 Software ...... 93,976,809 16,652,495 — 110,629,304 Specialty Retail ...... 23,338,192 9,236,521 — 32,574,713 Technology Hardware, Storage & Peripherals ...... 65,493,437 5,459,174 — 70,952,611 Textiles, Apparel & Luxury Goods ...... 7,524,187 36,117,777 — 43,641,964 Tobacco ...... 6,987,928 8,852,167 — 15,840,095 Trading Companies & Distributors ...... 2,106,081 15,181,243 — 17,287,324 Transportation Infrastructure ...... — 4,580,517 — 4,580,517 Water Utilities ...... 797,777 1,089,431 — 1,887,208 Wireless Telecommunication Services ...... 2,431,696 14,204,789 — 16,636,485 Total Common Stocks ...... 1,173,379,212 1,126,753,245 0 2,300,132,457 Total U.S. Treasury & Government Agencies* ...... — 1,130,415,193 — 1,130,415,193 Total Foreign Government* ...... — 451,378,430 — 451,378,430 Total Preferred Stocks* ...... — 6,475,863 — 6,475,863 Total Rights* ...... 20,343 — — 20,343 Total Short-Term Investment* ...... — 64,684,823 — 64,684,823 Securities Lending Reinvestments Certificates of Deposit ...... — 104,791,109 — 104,791,109 Commercial Paper ...... — 10,999,971 — 10,999,971 Repurchase Agreements ...... — 162,634,238 — 162,634,238 Time Deposits ...... — 58,500,000 — 58,500,000 Mutual Funds ...... 10,000,000 — — 10,000,000 Total Securities Lending Reinvestments ...... 10,000,000 336,925,318 — 346,925,318 Total Investments ...... $1,183,399,555 $3,116,632,872 $ 0 $4,300,032,427 Collateral for Securities Loaned (Liability) ...... $ — $(346,911,249) $— $ (346,911,249)

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-26 Brighthouse Funds Trust I AB Global Dynamic Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $23,817,472 $— $ 23,817,472 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (2,465,638) — (2,465,638) Total Forward Contracts ...... $ — $21,351,834 $— $ 21,351,834 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 7,755,912 $ — $— $ 7,755,912 Futures Contracts (Unrealized Depreciation) ...... (14,399,875) — — (14,399,875) Total Futures Contracts ...... $ (6,643,963) $ — $— $ (6,643,963) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 3,500,084 $— $ 3,500,084 OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 875,586 $— $ 875,586

* 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 June 30, 2021 is not presented.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-27 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—59.7% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Sovereign—59.7% Sovereign—(Continued) Angolan Government International Bonds Ecuador Government International Bonds 9.125%, 11/26/49 ...... 2,991,000 $ 3,058,537 0.500%, 07/31/35 (144A) (a) ...... 3,232,778 $ 2,214,453 9.125%, 11/26/49 (144A) ...... 670,000 685,129 0.500%, 07/31/35 (a) ...... 1,284,768 880,066 9.375%, 05/08/48 ...... 4,460,000 4,655,170 0.500%, 07/31/40 (144A) (a) ...... 2,169,604 1,342,442 Argentine Republic Government International Bonds Egypt Government International Bonds 0.125%, 07/09/30 (a) ...... 8,710,888 3,120,327 3.875%, 02/16/26 (144A) ...... 1,031,000 1,013,473 0.125%, 07/09/35 (a) ...... 19,992,259 6,327,750 5.625%, 04/16/30 (EUR) ...... 1,145,000 1,362,775 0.125%, 01/09/38 (a) ...... 976,074 367,814 5.875%, 02/16/31 ...... 603,000 585,513 1.000%, 07/09/29 ...... 1,532,610 580,369 5.875%, 02/16/31 (144A) ...... 910,000 883,610 Australia Government Bonds 7.053%, 01/15/32 ...... 577,000 591,137 0.500%, 09/21/26 (AUD) ...... 3,360,000 2,476,022 7.500%, 01/31/27 ...... 1,320,000 1,481,700 1.000%, 12/21/30 (AUD) ...... 1,185,000 852,726 7.500%, 02/16/61 (144A) ...... 809,000 757,143 2.750%, 06/21/35 (AUD) ...... 5,614,000 4,711,971 8.500%, 01/31/47 ...... 4,152,000 4,323,270 3.000%, 03/21/47 (AUD) ...... 6,370,000 5,466,377 8.875%, 05/29/50 ...... 939,000 1,010,516 3.750%, 04/21/37 (AUD) ...... 840,000 788,025 8.875%, 05/29/50 (144A) ...... 670,000 721,029 4.250%, 04/21/26 (AUD) ...... 2,660,000 2,325,879 El Salvador Government International Bonds Bahrain Government International Bonds 5.875%, 01/30/25 ...... 876,000 808,110 5.625%, 09/30/31 (144A) ...... 2,374,000 2,403,675 6.375%, 01/18/27 ...... 1,323,000 1,194,008 6.000%, 09/19/44 ...... 3,381,000 3,205,188 7.125%, 01/20/50 (144A) ...... 552,000 469,200 6.250%, 01/25/51 ...... 632,000 600,400 7.125%, 01/20/50 ...... 3,835,000 3,259,750 7.000%, 10/12/28 ...... 1,187,000 1,330,772 7.650%, 06/15/35 ...... 195,000 177,957 7.375%, 05/14/30 (144A) ...... 712,000 803,563 7.750%, 01/24/23 ...... 1,785,000 1,763,044 Bundesrepublik Deutschland Bundesanleihe Finance Department Government of Sharjah Zero Coupon, 08/15/30 (EUR) ...... 7,621,000 9,284,982 4.000%, 07/28/50 (144A) ...... 499,000 457,224 Zero Coupon, 08/15/50 (EUR) ...... 4,750,000 5,177,240 Finland Government Bond 4.750%, 07/04/34 (EUR) ...... 1,775,000 3,465,841 0.500%, 09/15/27 (144A) (EUR) ...... 1,949,000 2,435,388 Canada Housing Trust French Republic Government Bond OAT 1.800%, 12/15/24 (144A) (CAD) ...... 5,875,000 4,885,786 0.100%, 03/01/26 (144A) (EUR) (b) ...... 7,479,687 9,646,145 1.950%, 12/15/25 (144A) (CAD) ...... 7,160,000 5,981,511 0.500%, 06/25/44 (144A) (EUR) ...... 1,751,000 1,982,684 2.900%, 06/15/24 (144A) (CAD) ...... 10,640,000 9,116,787 1.000%, 05/25/27 (EUR) ...... 8,195,000 10,482,356 Canadian Government Bond 1.250%, 05/25/34 (EUR) ...... 511,900 679,751 0.250%, 03/01/26 (CAD) ...... 2,990,000 2,332,157 Gabon Government International Bond Colombia Government International Bonds 6.625%, 02/06/31 ...... 823,000 828,741 3.125%, 04/15/31 ...... 1,628,000 1,593,063 6.950%, 06/16/25 ...... 3,395,000 3,675,087 3.250%, 04/22/32 ...... 3,741,000 3,664,160 Ghana Government International Bonds 3.875%, 04/25/27 ...... 3,711,000 3,940,451 7.625%, 05/16/29 ...... 490,000 495,200 5.000%, 06/15/45 ...... 1,296,000 1,376,611 7.750%, 04/07/29 (144A) ...... 571,000 583,134 Colombian TES 7.875%, 03/26/27 ...... 2,105,000 2,223,511 5.750%, 11/03/27 (COP) ...... 7,353,600,000 1,876,352 7.875%, 02/11/35 (144A) ...... 1,374,000 1,353,390 Commonwealth of Bahamas 7.875%, 02/11/35 ...... 400,000 394,000 8.950%, 10/15/32 ...... 1,858,000 2,104,185 8.125%, 03/26/32 ...... 650,000 658,524 Deutsche Bundesrepublik Inflation Linked Bond 8.625%, 04/07/34 (144A) ...... 1,196,000 1,233,722 0.100%, 04/15/26 (EUR) (b) ...... 7,433,655 9,645,114 8.627%, 06/16/49 ...... 1,887,000 1,813,879 Dominican Republic International Bonds 8.750%, 03/11/61 (144A) ...... 233,000 223,680 4.875%, 09/23/32 ...... 605,000 623,150 8.950%, 03/26/51 ...... 1,985,000 1,960,624 5.875%, 04/18/24 ...... 1,530,000 1,625,625 Honduras Government International Bond 5.875%, 01/30/60 (144A) ...... 1,084,000 1,080,206 7.500%, 03/15/24 ...... 1,670,000 1,785,063 5.875%, 01/30/60 ...... 150,000 149,475 Indonesia Government International Bonds 5.950%, 01/25/27 ...... 1,746,000 1,963,377 1.100%, 03/12/33 (EUR) ...... 546,000 632,394 6.400%, 06/05/49 ...... 255,000 274,125 2.850%, 02/14/30 ...... 1,163,000 1,205,794 6.500%, 02/15/48 ...... 3,284,000 3,582,844 4.125%, 01/15/25 ...... 5,170,000 5,705,115 Ecuador Government International Bonds Indonesia Treasury Bond Zero Coupon, 07/31/30 (144A) ...... 711,514 392,222 7.250%, 02/15/26 (IDR) ...... 44,551,000,000 3,282,548 0.500%, 07/31/30 (144A) (a) ...... 2,629,428 2,241,614 Ireland Government Bond 0.500%, 07/31/30 (a) ...... 214,321 182,711 Zero Coupon, 10/18/31 (EUR) ...... 5,329,000 6,212,642

See accompanying notes to financial statements. BHFTI-28 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Sovereign—(Continued) Sovereign—(Continued) Italy Buoni Poliennali Del Tesoro Oman Government International Bonds 0.250%, 03/15/28 (144A) (EUR) ...... 13,510,000 $ 15,855,717 6.250%, 01/25/31 (144A) ...... 1,129,000 $ 1,211,790 0.500%, 07/15/28 (144A) (EUR) ...... 5,578,000 6,633,044 6.500%, 03/08/47 ...... 1,170,000 1,143,535 0.950%, 09/15/27 (144A) (EUR) ...... 11,360,000 13,987,051 6.750%, 01/17/48 ...... 4,634,000 4,605,037 1.500%, 04/30/45 (144A) (EUR) ...... 2,198,000 2,530,957 Pakistan Government International Bonds Ivory Coast Government International Bonds 6.875%, 12/05/27 ...... 1,144,000 1,187,291 4.875%, 01/30/32 (EUR) ...... 230,000 272,423 7.375%, 04/08/31 ...... 216,000 222,210 5.375%, 07/23/24 ...... 1,503,000 1,613,861 Panama Bonos del Tesoro 5.875%, 10/17/31 (144A) (EUR) ...... 460,000 586,299 3.362%, 06/30/31 ...... 1,759,000 1,755,152 5.875%, 10/17/31 (EUR) ...... 410,000 522,571 Panama Government International Bonds 6.125%, 06/15/33 ...... 3,596,000 3,792,485 3.160%, 01/23/30 ...... 2,580,000 2,705,801 6.375%, 03/03/28 ...... 1,879,000 2,066,900 8.875%, 09/30/27 ...... 3,275,000 4,509,380 6.625%, 03/22/48 (EUR) ...... 401,000 498,071 Paraguay Government International Bonds Jamaica Government International Bonds 4.950%, 04/28/31 (144A) ...... 650,000 745,882 7.625%, 07/09/25 ...... 2,620,000 3,022,196 5.400%, 03/30/50 (144A) ...... 359,000 418,504 7.875%, 07/28/45 ...... 1,180,000 1,646,100 Perusahaan Penerbit SBSN Indonesia III Japan Government Ten Year Bonds 4.150%, 03/29/27 ...... 570,000 638,828 0.100%, 06/20/30 (JPY) ...... 1,958,900,000 17,764,549 Peruvian Government International Bonds 0.100%, 09/20/30 (JPY) ...... 345,150,000 3,126,684 2.780%, 12/01/60 ...... 1,734,000 1,543,329 Japan Government Thirty Year Bonds 2.783%, 01/23/31 ...... 3,457,000 3,521,853 0.400%, 12/20/49 (JPY) ...... 1,010,950,000 8,468,521 3.230%, 07/28/21 (d) ...... 810,000 709,609 0.500%, 03/20/49 (JPY) ...... 50,150,000 434,727 Philippine Government International Bond 0.600%, 09/20/50 (JPY) ...... 565,900,000 4,981,519 3.200%, 07/06/46 ...... 1,404,000 1,402,233 Japan Government Twenty Year Bond Province of Ontario Canada 0.500%, 09/20/36 (JPY) ...... 3,323,550,000 30,923,569 2.600%, 06/02/27 (CAD) ...... 1,645,000 1,410,446 Kazakhstan Government International Bond Province of Quebec Canada 5.125%, 07/21/25 ...... 1,084,000 1,258,795 2.750%, 09/01/27 (CAD) ...... 3,225,000 2,797,472 Kenya Government International Bond Qatar Government International Bonds 6.875%, 06/24/24 ...... 2,510,000 2,758,289 4.400%, 04/16/50 (144A) ...... 1,538,000 1,871,974 Kingdom of Belgium Government Bond 4.500%, 04/23/28 ...... 3,018,000 3,561,240 1.450%, 06/22/37 (144A) (EUR) ...... 2,803,000 3,833,354 4.817%, 03/14/49 ...... 980,000 1,260,525 Korea Treasury Bonds 5.103%, 04/23/48 ...... 2,151,000 2,855,668 1.250%, 03/10/26 (KRW) ...... 11,797,020,000 10,234,348 Republic of Austria Government Bond 1.375%, 12/10/29 (KRW) ...... 6,303,790,000 5,305,803 0.500%, 02/20/29 (144A) (EUR) ...... 4,403,000 5,497,104 1.500%, 12/10/30 (KRW) ...... 5,235,390,000 4,412,112 Republic of Azerbaijan International Bond Lebanon Government International Bonds 4.750%, 03/18/24 ...... 672,000 728,439 6.000%, 01/27/23 (c) ...... 6,653,000 836,748 Republic of South Africa Government International Bonds 6.200%, 02/26/25 (c) ...... 461,000 57,680 5.000%, 10/12/46 ...... 316,000 299,410 6.650%, 11/03/28 (c) ...... 2,006,000 251,320 5.650%, 09/27/47 ...... 881,000 897,299 Malaysia Government Bond 5.750%, 09/30/49 (d) ...... 3,541,000 3,618,690 4.498%, 04/15/30 (MYR) ...... 8,253,000 2,171,417 8.000%, 01/31/30 (ZAR) ...... 92,219,220 6,123,914 Mexican Bonos Russian Federal Bond - OFZ 7.750%, 05/29/31 (MXN) ...... 166,317,200 8,806,785 7.950%, 10/07/26 (RUB) ...... 293,984,000 4,202,218 8.000%, 11/07/47 (MXN) ...... 69,071,000 3,649,876 Russian Foreign Bond - Eurobonds Mexico Government International Bonds 4.250%, 06/23/27 ...... 800,000 893,008 3.375%, 02/23/31 (EUR) ...... 1,795,000 2,471,417 4.375%, 03/21/29 ...... 3,200,000 3,604,064 5.000%, 04/27/51 ...... 1,334,000 1,513,423 4.750%, 05/27/26 ...... 4,000,000 4,545,000 Mongolia Government International Bond 5.250%, 06/23/47 ...... 5,200,000 6,531,554 5.625%, 05/01/23 ...... 1,921,000 2,029,056 5.625%, 04/04/42 ...... 200,000 256,750 Nigeria Government International Bonds 5.875%, 09/16/43 ...... 400,000 533,510 6.500%, 11/28/27 ...... 1,546,000 1,638,760 Saudi Government International Bonds 7.625%, 11/28/47 ...... 2,673,000 2,671,738 3.250%, 10/22/30 (144A) ...... 689,000 741,536 7.875%, 02/16/32 ...... 1,673,000 1,800,984 5.250%, 01/16/50 ...... 1,357,000 1,775,352 Oman Government International Bonds Senegal Government International Bond 4.875%, 02/01/25 ...... 1,622,000 1,697,828 6.750%, 03/13/48 ...... 2,204,000 2,221,323 5.625%, 01/17/28 ...... 340,000 357,041

See accompanying notes to financial statements. BHFTI-29 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Sovereign—(Continued) Agriculture—(Continued) Serbia International Bond Imperial Brands Finance Netherlands B.V. 2.125%, 12/01/30 (144A) ...... 385,000 $ 364,788 1.750%, 03/18/33 (EUR) ...... 1,001,000 $ 1,195,588 Spain Government Bonds 3,819,621 1.200%, 10/31/40 (144A) (EUR) ...... 5,745,000 6,910,409 4.200%, 01/31/37 (144A) (EUR) ...... 3,179,000 5,627,109 Apparel—0.1% Sri Lanka Government International Bonds Levi Strauss & Co. 6.850%, 11/03/25 ...... 1,370,000 911,050 3.375%, 03/15/27 (EUR) ...... 915,000 1,116,812 7.850%, 03/14/29 ...... 756,000 476,280 Thailand Government Bond Auto Manufacturers—0.8% 2.875%, 12/17/28 (THB) ...... 92,220,000 3,179,292 BMW Finance NV Turkey Government International Bonds 1.000%, 08/29/25 (EUR) ...... 935,000 1,159,760 4.750%, 01/26/26 ...... 2,882,000 2,833,928 Dongfeng Motor Hong Kong International Co., Ltd. 4.875%, 04/16/43 ...... 5,286,000 4,204,696 1.150%, 10/23/21 (EUR) ...... 337,000 400,321 5.875%, 06/26/31 ...... 753,000 730,787 Ford Motor Credit Co. LLC Ukraine Government International Bonds 3.021%, 03/06/24 (EUR) ...... 850,000 1,056,290 1.258%, 05/31/40 (e) ...... 2,130,000 2,524,050 Harley-Davidson Financial Services, Inc. 6.750%, 06/20/26 (144A) (EUR) ...... 442,000 571,533 0.900%, 11/19/24 (EUR) ...... 1,070,000 1,296,597 6.876%, 05/21/29 (144A) ...... 1,073,000 1,113,431 Nissan Motor Co., Ltd. 7.253%, 03/15/33 (144A) ...... 407,000 423,769 4.345%, 09/17/27 (144A) ...... 700,000 769,465 7.253%, 03/15/33 ...... 660,000 687,193 Volkswagen International Finance NV 7.375%, 09/25/32 ...... 2,115,000 2,222,713 1.875%, 03/30/27 (EUR) ...... 900,000 1,158,210 7.750%, 09/01/24 ...... 4,083,000 4,453,843 Volkswagen Leasing GmbH 7.750%, 09/01/26 ...... 1,945,000 2,146,724 1.125%, 04/04/24 (EUR) ...... 780,000 953,449 9.750%, 11/01/28 ...... 320,000 381,189 United Kingdom Gilt 6,794,092 1.250%, 10/22/41 (GBP) ...... 4,080,000 5,678,352 1.750%, 09/07/37 (GBP) ...... 4,413,590 6,675,311 Auto Parts & Equipment—0.1% Uruguay Government International Bonds Schaeffler AG 4.375%, 01/23/31 ...... 676,097 786,646 2.750%, 10/12/25 (EUR) ...... 700,000 886,052 4.975%, 04/20/55 ...... 592,005 763,094 Zambia Government International Bond Banks—5.8% 8.970%, 07/30/27 ...... 1,384,000 868,347 Banco Bilbao Vizcaya Argentaria S.A. 5.875%, 5Y EUR Swap + 5.660%, 09/24/23 (EUR) (e) ...... 1,200,000 1,536,732 Total Foreign Government Banco de Credito del Peru (Cost $519,300,261) ...... 518,674,557 3.125%, 5Y H15 + 3.000%, 07/01/30 (144A) (e) ...... 522,000 519,207 Banco Nacional de Panama Corporate Bonds & Notes—29.8% 2.500%, 08/11/30 (144A) ...... 852,000 825,188 Banco Santander S.A. Aerospace/Defense—0.4% 1.125%, 06/23/27 (EUR) ...... 900,000 1,111,704 Embraer Netherlands Finance B.V. 6.750%, 5Y EUR Swap + 6.803%, 04/25/22 (EUR) (e) ...... 900,000 1,112,530 5.400%, 02/01/27 ...... 1,342,000 1,430,089 Bangkok Bank PCL 6.950%, 01/17/28 (144A) ...... 802,000 917,287 3.733%, 5Y H15 + 1.900%, 09/25/34 (144A) (e) ...... 955,000 989,829 6.950%, 01/17/28 ...... 396,000 452,925 Bank of America Corp. TransDigm, Inc. 1.776%, 3M EURIBOR + 1.200%, 05/04/27 (EUR) (e) ...... 1,464,000 1,867,245 6.250%, 03/15/26 (144A) ...... 570,000 601,350 BNP Paribas S.A. 3.375%, 01/23/26 (GBP) ...... 795,000 1,200,510 3,401,651 CaixaBank S.A. 0.375%, 3M EURIBOR + 0.850%, 11/18/26 (EUR) (e) ...... 1,000,000 1,186,983 Agriculture—0.4% Citigroup, Inc. Altria Group, Inc. 1.500%, 3M EURIBOR + 1.074%, 07/24/26 (EUR) (e) ...... 1,290,000 1,609,770 3.125%, 06/15/31 (EUR) ...... 1,100,000 1,500,162 1.750%, 10/23/26 (GBP) ...... 605,000 856,210 BAT International Finance plc Commonwealth Bank of Australia 6.000%, 11/24/34 (GBP) ...... 305,000 550,453 1.936%, 5Y EUR Swap + 1.450%, 10/03/29 (EUR) (e) ...... 955,000 1,185,433 BAT Netherlands Finance B.V. Cooperatieve Rabobank UA 3.125%, 04/07/28 (EUR) ...... 425,000 573,418 3.250%, 5Y EUR Swap + 3.702%, 12/29/26 (EUR) (e) ...... 400,000 490,308 4.375%, 5Y EUR Swap + 4.679%, 06/29/27 (EUR) (e) ...... 600,000 788,372

See accompanying notes to financial statements. BHFTI-30 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Building Materials—0.2% Cooperatieve Rabobank UA Cemex S.A.B. de C.V. 4.625%, 05/23/29 (GBP) ...... 625,000 $ 1,029,343 3.875%, 07/11/31 (144A) ...... 730,000 $ 742,045 Credit Suisse Group AG 5.125%, 5Y H15 + 4.534%, 06/08/26 (144A) (e) ...... 538,000 555,323 1.250%, 1Y EUR Swap + 0.750%, 07/17/25 (EUR) (e) ...... 1,265,000 1,539,408 7.375%, 06/05/27 (144A) ...... 267,000 301,390 2.750%, 08/08/25 (GBP) ...... 535,000 781,367 1,598,758 7.500%, 5Y USD Swap + 4.598%, 12/11/23 (144A) (e) ..... 1,003,000 1,112,668 Danske Bank A/S Chemicals—0.6% 2.250%, 1Y UKG + 1.650%, 01/14/28 (GBP) (e) ...... 960,000 1,362,394 Alpek S.A.B. de C.V. Deutsche Bank AG 3.250%, 02/25/31 (144A) ...... 303,000 306,639 3.875%, 02/12/24 (GBP) ...... 800,000 1,184,054 Braskem Idesa SAPI Dexia Credit Local S.A. 7.450%, 11/15/29 ...... 1,833,000 1,942,998 0.625%, 02/03/24 (EUR) ...... 3,000,000 3,652,883 Braskem Netherlands Finance B.V. Goldman Sachs Group, Inc. (The) 4.500%, 01/10/28 ...... 949,000 999,961 1.250%, 05/01/25 (EUR) ...... 900,000 1,102,992 INEOS Quattro Finance 2 plc 3.375%, 03/27/25 (EUR) ...... 400,000 531,648 2.500%, 01/15/26 (144A) (EUR) ...... 940,000 1,124,358 5.300%, 3M LIBOR + 3.834%, 11/10/26 (e) ...... 58,000 65,024 Solvay S.A. HSBC Holdings plc 2.500%, 5Y EUR Swap + 2.977%, 12/02/25 (EUR) (e) ...... 500,000 611,403 6.000%, 5Y EUR Swap + 5.338%, 09/29/23 (EUR) (e) ...... 1,414,000 1,836,972 6.375%, 5Y USD ICE Swap + 4.368%, 03/30/25 (e) ...... 891,000 993,287 4,985,359 ING Groep NV 3.000%, 02/18/26 (GBP) ...... 1,100,000 1,645,769 Coal—0.1% 6.500%, 5Y USD Swap + 4.446%, 04/16/25 (e) ...... 201,000 224,055 Indika Energy Capital IV Pte, Ltd. 6.750%, 5Y USD ICE Swap + 4.204%, 04/16/24 (e) ...... 2,500,000 2,756,250 8.250%, 10/22/25 (144A) ...... 1,039,000 1,103,314 6.875%, 5Y USD ICE Swap + 5.124%, 04/16/22 (e) ...... 820,000 851,980 Intesa Sanpaolo S.p.A. Commercial Services—0.6% 6.625%, 09/13/23 (EUR) ...... 865,000 1,160,591 Autopistas del Sol S.A. JPMorgan Chase & Co. 7.375%, 12/30/30 ...... 857,954 879,411 1.090%, 3M EURIBOR + 0.760%, 03/11/27 (EUR) (e) ...... 1,400,000 1,727,667 DP World Crescent, Ltd. Morgan Stanley 4.848%, 09/26/28 ...... 576,000 662,091 0.406%, 3M EURIBOR + 0.698%, 10/29/27 (EUR) (e) ...... 1,385,000 1,647,338 DP World plc 0.497%, 3M EURIBOR + 0.720%, 02/07/31 (EUR) (e) ...... 500,000 581,992 4.700%, 09/30/49 ...... 302,000 334,465 1.342%, 3M EURIBOR + 0.834%, 10/23/26 (EUR) (e) ...... 434,000 540,506 5.625%, 09/25/48 ...... 665,000 830,386 Natwest Group plc Intertrust Group B.V. 2.000%, 3M EURIBOR + 1.737%, 03/04/25 (EUR) (e) ...... 900,000 1,121,729 3.375%, 11/15/25 (EUR) ...... 925,000 1,118,755 2.467%, 3M LIBOR + 2.320%, 09/30/27 (e) ...... 1,300,000 1,288,625 Square, Inc. Standard Chartered plc 2.750%, 06/01/26 (144A) ...... 938,000 954,415 1.696%, 3M LIBOR + 1.510%, 01/30/27 (144A) (e) ...... 1,000,000 965,000 TransJamaican Highway, Ltd. Swedbank AB 5.750%, 10/10/36 (144A) ...... 767,521 761,189 6.000%, 5Y USD Swap + 4.106%, 03/17/22 (e) ...... 800,000 823,000 5,540,712 Truist Financial Corp. 5.100%, 10Y H15 + 4.349%, 03/01/30 (e) ...... 880,000 988,900 Distribution/Wholesale—0.1% Turkiye Vakiflar Bankasi TAO H&E Equipment Services, Inc. 6.500%, 01/08/26 (144A) ...... 533,000 545,152 3.875%, 12/15/28 (144A) ...... 823,000 809,832 UniCredit S.p.A. 1.200%, 3M EURIBOR + 1.350%, 01/20/26 (EUR) (e) ...... 1,205,000 1,457,780 Diversified Financial Services—0.5% Wells Fargo & Co. AerCap Ireland Capital DAC / AerCap Global Aviation Trust 1.338%, 3M EURIBOR + 1.670%, 05/04/25 (EUR) (e) ...... 975,000 1,198,304 4.450%, 04/03/26 ...... 165,000 181,205 2.000%, 07/28/25 (GBP) ...... 400,000 572,797 Aircastle, Ltd. 50,569,496 2.850%, 01/26/28 (144A) ...... 497,000 499,457 4.125%, 05/01/24 ...... 190,000 202,587 Beverages—0.1% 4.250%, 06/15/26 ...... 49,000 53,210 Central American Bottling Corp. 5.250%, 08/11/25 (144A) ...... 480,000 539,155 5.750%, 01/31/27 (144A) ...... 826,000 864,041 Aviation Capital Group LLC 3.500%, 11/01/27 (144A) ...... 214,000 224,847 4.375%, 01/30/24 (144A) (d) ...... 459,000 492,286

See accompanying notes to financial statements. BHFTI-31 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Diversified Financial Services—(Continued) Electric—(Continued) GE Capital European Funding Unlimited Co. Perusahaan Perseroan Persero PT Perusahaan Listrik Negara 4.625%, 02/22/27 (EUR) ...... 300,000 $ 440,848 3.875%, 07/17/29 (144A) ...... 988,000 $ 1,044,810 Intercorp Financial Services, Inc. 5.450%, 05/21/28 ...... 1,537,000 1,790,605 4.125%, 10/19/27 ...... 745,000 742,579 SSE plc Intercorp Peru, Ltd. 0.875%, 09/06/25 (EUR) ...... 1,005,000 1,232,320 3.875%, 08/15/29 (144A) ...... 303,000 293,304 8.375%, 11/20/28 (GBP) ...... 695,000 1,407,980 3.875%, 08/15/29 ...... 200,000 193,600 Trinidad Generation UnLtd Lincoln Financing Sarl 5.250%, 11/04/27 ...... 962,000 991,341 3.625%, 04/01/24 (144A) (EUR) ...... 206,000 246,770 Vattenfall AB 3.000%, 5Y EUR Swap + 2.511%, 03/19/77 (EUR) (e) ...... 930,000 1,188,244 4,109,848 Zorlu Yenilenebilir Enerji AS 9.000%, 06/01/26 (144A) ...... 1,211,000 1,207,580 Electric—3.8% Abu Dhabi National Energy Co. PJSC 32,660,269 4.000%, 10/03/49 (144A) ...... 1,200,000 1,369,488 AES Gener S.A. Energy-Alternate Sources—0.2% 6.350%, 5Y H15 + 4.917%, 10/07/79 (144A) (e) ...... 457,000 487,390 Empresa Electrica Cochrane S.p.A. AES Panama Generation Holdings SRL 5.500%, 05/14/27 (144A) ...... 207,839 215,393 4.375%, 05/31/30 (144A) ...... 817,000 853,892 5.500%, 05/14/27 ...... 987,236 1,023,115 Cemig Geracao e Transmissao S.A. Investment Energy Resources, Ltd. 9.250%, 12/05/24 ...... 837,000 964,651 6.250%, 04/26/29 (144A) ...... 277,000 299,506 Chile Electricity PEC S.p.A. 1,538,014 Zero Coupon, 01/25/28 (144A) (d) ...... 957,000 778,759 Colbun S.A. Engineering & Construction—0.6% 3.950%, 10/11/27 ...... 200,000 218,252 Aeropuerto Internacional de Tocumen S.A. 4.500%, 07/10/24 ...... 722,000 780,670 6.000%, 11/18/48 ...... 1,873,862 2,036,458 Comision Federal de Electricidad Bioceanico Sovereign Certificate, Ltd. 3.348%, 02/09/31 (144A) (d) ...... 1,520,000 1,507,840 Zero Coupon, 06/05/34 (144A) ...... 919,203 677,912 4.677%, 02/09/51 (144A) ...... 485,000 468,030 Heathrow Funding, Ltd. Consorcio Transmantaro S.A. 6.750%, 12/03/28 (GBP) ...... 600,000 1,048,024 4.700%, 04/16/34 ...... 785,000 867,817 Rutas 2 and 7 Finance, Ltd. E.ON International Finance B.V. Zero Coupon, 09/30/36 (144A) ...... 650,000 469,625 1.250%, 10/19/27 (EUR) ...... 755,000 952,034 State Agency of Roads of Ukraine EDP Finance B.V. 6.250%, 06/24/28 (144A) ...... 1,144,000 1,142,501 0.375%, 09/16/26 (EUR) ...... 1,200,000 1,436,810 5,374,520 Empresa de Transmision Electrica S.A. 5.125%, 05/02/49 ...... 454,000 503,945 Food—0.1% Empresas Publicas de Medellin E.S.P. BRF GmbH 4.250%, 07/18/29 (144A) ...... 897,000 888,030 4.350%, 09/29/26 ...... 421,000 442,576 Enel Finance International NV BRF S.A. 5.750%, 09/14/40 (GBP) ...... 500,000 1,042,634 4.875%, 01/24/30 ...... 422,000 443,100 Enel Generacion Chile S.A. 5.750%, 09/21/50 (144A) ...... 323,000 331,237 4.250%, 04/15/24 ...... 749,000 801,223 Engie Energia Chile S.A. 1,216,913 3.400%, 01/28/30 (144A) ...... 1,576,000 1,615,400 Eskom Holdings SOC, Ltd. Forest Products & Paper—0.5% 6.350%, 08/10/28 ...... 2,382,000 2,649,975 Inversiones CMPC S.A. 6.750%, 08/06/23 ...... 1,051,000 1,097,559 3.850%, 01/13/30 (144A) ...... 1,856,000 1,979,443 7.125%, 02/11/25 (144A) ...... 286,000 301,730 4.375%, 05/15/23 ...... 301,000 315,601 7.125%, 02/11/25 ...... 2,061,000 2,174,355 4.375%, 04/04/27 ...... 662,000 734,827 Iberdrola International B.V. Suzano Austria GmbH 1.450%, 5Y EUR Swap + 1.832%, 11/09/26 (EUR) (e) ...... 700,000 837,288 3.750%, 01/15/31 ...... 616,000 646,030 Light Servicos de Eletricidade S.A./Light Energia S.A. WEPA Hygieneprodukte GmbH 7.250%, 05/03/23 ...... 897,000 929,749 2.875%, 12/15/27 (144A) (EUR) ...... 197,000 230,673 NextEra Energy Capital Holdings, Inc. 2.875%, 12/15/27 (EUR) ...... 570,000 667,429 1.900%, 06/15/28 ...... 267,000 269,868 4,574,003

See accompanying notes to financial statements. BHFTI-32 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Gas—0.1% Investment Companies—0.7% Grupo Energia Bogota S.A. ESP Huarong Finance Co., Ltd. 4.875%, 05/15/30 (144A) ...... 501,000 $ 544,838 3.250%, 11/13/24 ...... 400,000 $ 295,000 3.750%, 04/27/22 ...... 470,000 392,450 Healthcare-Products—0.1% 3.750%, 05/29/24 ...... 208,000 153,400 Avantor Funding, Inc. 4.500%, 05/29/29 ...... 288,000 198,720 2.625%, 11/01/25 (144A) (EUR) ...... 524,000 635,785 Huarong Finance II Co., Ltd. 2.625%, 11/01/25 (EUR) ...... 225,000 273,000 4.625%, 06/03/26 ...... 416,000 291,200 908,785 4.875%, 11/22/26 ...... 294,000 205,800 5.000%, 11/19/25 ...... 699,000 503,280 Healthcare-Services—0.2% 5.500%, 01/16/25 ...... 1,457,000 1,078,180 IQVIA, Inc. JAB Holdings B.V. 2.875%, 06/15/28 (144A) (EUR) ...... 918,000 1,121,261 1.000%, 12/20/27 (EUR) ...... 900,000 1,092,329 Tenet Healthcare Corp. MDC-GMTN B.V. 4.625%, 07/15/24 ...... 700,000 710,290 4.500%, 11/07/28 ...... 1,356,000 1,577,608 1,831,551 5,787,967

Home Builders—0.1% Iron/Steel—0.1% MDC Holdings, Inc. CSN Resources S.A. 6.000%, 01/15/43 ...... 771,000 993,588 4.625%, 06/10/31 (144A) ...... 677,000 691,210

Insurance—1.0% Leisure Time—0.1% Assicurazioni Generali S.p.A. Carnival plc 5.500%, 3M EURIBOR + 5.350%, 10/27/47 (EUR) (e) ...... 700,000 1,022,259 1.000%, 10/28/29 (EUR) ...... 798,000 775,775 Chubb INA Holdings, Inc. 0.300%, 12/15/24 (EUR) ...... 704,000 842,046 Lodging—0.1% 0.875%, 06/15/27 (EUR) ...... 452,000 555,290 Las Vegas Sands Corp. CNP Assurances 3.900%, 08/08/29 ...... 978,000 1,041,190 2.500%, 3M EURIBOR + 3.650%, 06/30/51 (EUR) (e) ...... 300,000 380,325 4.500%, 3M EURIBOR + 4.600%, 06/10/47 (EUR) (e) ...... 800,000 1,137,144 Machinery-Diversified—0.2% Credit Agricole Assurances S.A. Colfax Corp. 4.750%, 5Y EUR Swap + 5.350%, 09/27/48 (EUR) (e) ...... 600,000 868,453 3.250%, 05/15/25 (EUR) ...... 770,000 919,985 Liberty Mutual Group, Inc. Vertical Midco Gmbh 3.625%, 5Y EUR Swap + 3.700%, 05/23/59 (EUR) (e) ...... 695,000 858,123 4.375%, 07/15/27 (144A) (EUR) ...... 1,000,000 1,238,291 Nationwide Mutual Insurance Co. 2,158,276 9.375%, 08/15/39 (144A) ...... 567,000 987,622 Principal Financial Group, Inc. Media—0.4% 3.200%, 3M LIBOR + 3.044%, 05/15/55 (d) (e) ...... 300,000 298,350 CCO Holdings LLC / CCO Holdings Capital Corp. Prudential Financial, Inc. 4.500%, 08/15/30 (144A) ...... 162,000 168,677 5.200%, 3M LIBOR + 3.040%, 03/15/44 (e) ...... 642,000 688,964 4.500%, 06/01/33 (144A) ...... 577,000 590,421 Voya Financial, Inc. Charter Communications Operating LLC / Charter Communications 5.650%, 3M LIBOR + 3.580%, 05/15/53 (e) ...... 589,000 630,230 Operating Capital Corp. 8,268,806 4.800%, 03/01/50 ...... 107,000 122,895 5.125%, 07/01/49 ...... 502,000 597,832 Internet—0.6% Discovery Communications LLC Baidu, Inc. 4.650%, 05/15/50 ...... 181,000 211,807 3.075%, 04/07/25 ...... 284,000 299,890 5.200%, 09/20/47 ...... 613,000 761,829 Netflix, Inc. 5.300%, 05/15/49 ...... 264,000 333,879 3.625%, 05/15/27 (EUR) ...... 300,000 409,026 Globo Comunicacao e Participacoes S.A. 4.625%, 05/15/29 (EUR) ...... 492,000 728,507 4.875%, 01/22/30 (144A) ...... 421,000 434,687 Prosus NV 3,222,027 3.680%, 01/21/30 (144A) ...... 1,951,000 2,083,490 Weibo Corp. Mining—1.1% 3.375%, 07/08/30 ...... 1,818,000 1,897,664 Corp. Nacional del Cobre de Chile 5,418,577 3.000%, 09/30/29 (144A) ...... 1,605,000 1,667,033

See accompanying notes to financial statements. BHFTI-33 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Mining—(Continued) Oil & Gas—(Continued) Corp. Nacional del Cobre de Chile NAK Naftogaz Ukraine via Kondor Finance plc 3.150%, 01/14/30 ...... 369,000 $ 387,053 7.625%, 11/08/26 (144A) ...... 505,000 $ 521,925 3.750%, 01/15/31 (144A) (d) ...... 203,000 221,028 Oil and Gas Holding Co. BSCC (The) Gold Fields Orogen Holdings BVI, Ltd. 7.500%, 10/25/27 ...... 1,830,000 2,042,829 5.125%, 05/15/24 (144A) ...... 407,000 443,300 7.625%, 11/07/24 ...... 1,079,000 1,206,570 Indonesia Asahan Aluminium Persero PT Pertamina Persero PT 5.450%, 05/15/30 (144A) ...... 335,000 389,230 5.625%, 05/20/43 ...... 607,000 710,369 5.800%, 05/15/50 (144A) (d) ...... 534,000 630,120 6.000%, 05/03/42 ...... 1,299,000 1,591,483 Minsur S.A. 6.450%, 05/30/44 ...... 684,000 891,138 6.250%, 02/07/24 ...... 361,000 385,920 6.500%, 05/27/41 ...... 744,000 958,158 Nexa Resources S.A. Petrobras Global Finance B.V. 6.500%, 01/18/28 ...... 2,560,000 2,887,706 5.500%, 06/10/51 ...... 584,000 584,204 Vedanta Resources Finance II plc 6.900%, 03/19/49 (d) ...... 432,000 515,052 13.875%, 01/21/24 ...... 908,000 993,806 8.750%, 05/23/26 ...... 888,000 1,140,636 Volcan Cia Minera SAA Petroleos Mexicanos 4.375%, 02/11/26 ...... 1,387,000 1,373,130 5.950%, 01/28/31 ...... 2,861,000 2,779,461 4.375%, 02/11/26 (144A) ...... 385,000 381,150 6.500%, 03/13/27 ...... 2,524,000 2,664,082 6.750%, 09/21/47 ...... 2,808,000 2,485,080 9,759,476 6.840%, 01/23/30 ...... 1,563,000 1,610,671 6.950%, 01/28/60 ...... 4,584,000 4,056,382 Miscellaneous Manufacturing—0.2% 7.690%, 01/23/50 ...... 1,488,000 1,432,200 Bombardier, Inc. PTTEP Treasury Center Co., Ltd. 7.500%, 03/15/25 (144A) ...... 1,000,000 1,028,350 3.903%, 12/06/59 (144A) ...... 376,000 402,030 General Electric Co. Qatar Petroleum 1.875%, 05/28/27 (EUR) ...... 111,000 141,904 3.300%, 07/12/51 (144A) ...... 977,000 977,000 Wabtec Transportation Netherlands B.V. Seplat Petroleum Development Co. 1.250%, 12/03/27 (EUR) ...... 456,000 545,164 7.750%, 04/01/26 (144A) ...... 966,000 1,007,306 1,715,418 SierraCol Energy Andina LLC 6.000%, 06/15/28 (144A) (d) ...... 400,000 404,880 Oil & Gas—5.8% Sinopec Group Overseas Development, Ltd. BP Capital Markets plc 2.700%, 05/13/30 ...... 1,903,000 1,964,016 3.625%, 5Y EUR Swap + 4.120%, 03/22/29 (EUR) (e) ...... 875,000 1,128,129 State Oil Co. of the Azerbaijan Republic Devon Energy Corp. 6.950%, 03/18/30 ...... 701,000 882,461 5.600%, 07/15/41 ...... 985,000 1,217,927 Suncor Energy, Inc. Ecopetrol S.A. 6.500%, 06/15/38 ...... 248,000 350,853 6.875%, 04/29/30 ...... 1,526,000 1,841,897 6.850%, 06/01/39 ...... 252,000 370,230 7.375%, 09/18/43 ...... 1,645,000 2,027,479 Tengizchevroil Finance Co. International, Ltd. Eni S.p.A. 3.250%, 08/15/30 (144A) ...... 552,000 561,991 3.375%, 5Y EUR Swap + 3.641%, 07/13/29 (EUR) (e) ...... 935,000 1,176,960 3.250%, 08/15/30 ...... 730,000 743,213 Gran Tierra Energy International Holdings, Ltd. TotalEnergies SE 6.250%, 02/15/25 ...... 2,245,000 1,992,460 2.625%, 5Y EUR Swap + 2.148%, 02/26/25 (EUR) (e) ...... 665,000 833,164 Gran Tierra Energy, Inc. Tullow Oil plc 7.750%, 05/23/27 (144A) ...... 355,000 315,066 10.250%, 05/15/26 (144A) ...... 1,440,000 1,510,992 7.750%, 05/23/27 ...... 482,000 427,780 UGI International LLC Hunt Oil Co. of Peru LLC Sucursal Del Peru 3.250%, 11/01/25 (EUR) ...... 510,000 617,492 6.375%, 06/01/28 ...... 834,000 879,870 50,469,777 KazMunayGas National Co. JSC 5.750%, 04/19/47 ...... 1,179,000 1,471,934 Packaging & Containers—0.3% Kosmos Energy, Ltd. Ardagh Metal Packaging Finance USA LLC 7.500%, 03/01/28 (144A) (d) ...... 545,000 538,187 2.000%, 09/01/28 (144A) (EUR) ...... 945,000 1,121,094 Leviathan Bond, Ltd. 3.250%, 09/01/28 (144A) ...... 579,000 577,323 6.125%, 06/30/25 (144A) ...... 324,995 357,088 Klabin Austria GmbH 6.750%, 06/30/30 (144A) ...... 531,793 599,597 3.200%, 01/12/31 ...... 465,000 456,230 Medco Oak Tree Pte, Ltd. 3.200%, 01/12/31 (144A) ...... 535,000 524,910 7.375%, 05/14/26 (144A) (d) ...... 622,000 679,535 2,679,557

See accompanying notes to financial statements. BHFTI-34 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Pharmaceuticals—0.3% Software—(Continued) Bayer AG Fiserv, Inc. 0.375%, 07/06/24 (EUR) ...... 1,200,000 $ 1,438,279 1.125%, 07/01/27 (EUR) ...... 786,000 $ 973,232 Cheplapharm Arzneimittel GmbH 1,325,705 3.500%, 02/11/27 (144A) (EUR) ...... 153,000 183,213 Grifols S.A. Sovereign—0.2% 1.625%, 02/15/25 (144A) (EUR) ...... 817,000 976,508 CBB International Sukuk Programme Co. SPC 2,598,000 4.500%, 03/30/27 (144A) ...... 1,049,000 1,101,887 Hazine Mustesarligi Varlik Kiralama A/S Pipelines—0.8% 5.125%, 06/22/26 (144A) ...... 458,000 457,615 Energy Transfer L.P. 1,559,502 6.250%, 04/15/49 ...... 1,050,000 1,377,859 GNL Quintero S.A. Telecommunications—0.7% 4.634%, 07/31/29 ...... 864,000 941,760 AT&T, Inc. Oleoducto Central S.A. 1.600%, 05/19/28 (EUR) ...... 685,000 870,460 4.000%, 07/14/27 (144A) (d) ...... 260,000 268,247 2.875%, 5Y EURIBOR ICE Swap + 3.140%, 03/02/25 Peru LNG Srl (EUR) (e) ...... 400,000 482,851 5.375%, 03/22/30 ...... 1,972,000 1,700,850 CK Hutchison Group Telecom Finance S.A. Southern Gas Corridor CJSC 0.750%, 04/17/26 (EUR) ...... 1,035,000 1,256,595 6.875%, 03/24/26 ...... 454,000 542,621 Deutsche Telekom International Finance B.V. Transportadora de Gas Internacional S.A. ESP 8.875%, 11/27/28 (GBP) ...... 530,000 1,111,004 5.550%, 11/01/28 ...... 854,000 952,218 Digicel Group, Ltd. Western Midstream Operating L.P. 10.000%, 04/01/24 (d) (f) ...... 2,147,240 2,071,121 5.300%, 02/01/30 ...... 860,000 963,204 5,792,031 6,746,759 Transportation—0.7% Real Estate—0.1% Empresa de Transporte de Pasajeros Metro S.A. ADLER Group S.A. 3.650%, 05/07/30 (144A) ...... 200,000 215,573 3.250%, 08/05/25 (EUR) ...... 900,000 1,100,938 4.700%, 05/07/50 (144A) ...... 986,000 1,114,180 5.000%, 01/25/47 ...... 200,000 231,000 Real Estate Investment Trusts—0.7% FedEx Corp. CyrusOne L.P. / CyrusOne Finance Corp. 0.450%, 05/04/29 (EUR) ...... 924,000 1,091,106 1.450%, 01/22/27 (EUR) ...... 354,000 427,664 InPost S.A. Digital Euro Finco LLC 2.250%, 07/15/27 (144A) (EUR) ...... 357,000 426,064 2.500%, 01/16/26 (EUR) ...... 1,090,000 1,419,905 Lima Metro Line 2 Finance, Ltd. Host Hotels & Resorts L.P. 4.350%, 04/05/36 (144A) ...... 296,000 306,064 3.500%, 09/15/30 ...... 1,130,000 1,185,788 4.350%, 04/05/36 ...... 529,000 546,986 MGM Growth Properties Operating Partnership L.P. / MGP Finance 5.875%, 07/05/34 ...... 1,619,666 1,886,928 Co-Issuer, Inc. MV24 Capital B.V. 4.625%, 06/15/25 (144A) ...... 403,000 430,553 6.748%, 06/01/34 (144A) ...... 361,369 400,216 Trust Fibra Uno 6,218,117 4.869%, 01/15/30 ...... 494,000 543,795 4.869%, 01/15/30 (144A) ...... 276,000 303,821 Total Corporate Bonds & Notes Vornado Realty L.P. (Cost $248,988,610) ...... 258,756,312 3.400%, 06/01/31 ...... 572,000 591,410 WPC Eurobond B.V. Asset-Backed Securities—2.6% 2.125%, 04/15/27 (EUR) ...... 1,000,000 1,282,199 6,185,135 Asset-Backed - Other—2.6% Ares XXXIV CLO, Ltd. Software—0.2% 2.190%, 3M LIBOR + 2.000%, 04/17/33 (144A) (e) ...... 1,960,584 1,962,147 Fidelity National Information Services, Inc. Balboa Bay Loan Funding Ltd. 0.625%, 12/03/25 (EUR) ...... 141,000 170,771 Zero Coupon, 3M LIBOR + 1.200%, 07/20/34 (144A) (e) ..... 1,350,416 1,350,966 1.000%, 12/03/28 (EUR) ...... 149,000 181,702 Black Diamond CLO, Ltd. 1.603%, 3M LIBOR + 1.430%, 07/23/32 (144A) (e) ...... 2,121,980 2,122,054

See accompanying notes to financial statements. BHFTI-35 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Collateralized Mortgage Obligations—(Continued) Dryden 78 CLO, Ltd. Bellemeade Re, Ltd. 2.140%, 3M LIBOR + 1.950%, 04/17/33 (144A) (e) ...... 3,000,000 $ 3,006,009 2.592%, 1M LIBOR + 2.500%, 10/25/29 (144A) (e) ...... 228,716 $ 228,716 3.190%, 3M LIBOR + 3.000%, 04/17/33 (144A) (e) ...... 272,928 273,448 2.692%, 1M LIBOR + 2.600%, 06/25/30 (144A) (e) ...... 219,752 219,855 Elmwood CLO IX, Ltd. 2.942%, 1M LIBOR + 2.850%, 10/25/29 (144A) (e) ...... 486,000 491,925 1.269%, 3M LIBOR + 1.130%, 07/20/34 (144A) (e) ...... 563,280 563,505 3.192%, 1M LIBOR + 3.100%, 04/25/29 (144A) (e) ...... 750,000 760,034 Flatiron CLO 21, Ltd. Home Re, Ltd. 1.261%, 3M LIBOR + 1.110%, 07/19/34 (144A) (e) ...... 1,562,322 1,562,477 3.342%, 1M LIBOR + 3.250%, 05/25/29 (144A) (e) ...... 1,600,000 1,619,479 3.051%, 3M LIBOR + 2.900%, 07/19/34 (144A) (e) ...... 3,625,000 3,619,562 5.342%, 1M LIBOR + 5.250%, 10/25/30 (144A) (e) ...... 1,300,000 1,329,980 Neuberger Berman CLO Ltd. Mortgage Insurance-Linked Notes Zero Coupon, 3M LIBOR + 1.130%, 07/17/35 (144A) (e) ..... 1,374,102 1,374,102 1.992%, 1M LIBOR + 1.900%, 11/26/29 (144A) (e) ...... 139,966 139,966 Octagon Investment Partners, Ltd. 2.992%, 1M LIBOR + 2.900%, 11/26/29 (144A) (e) ...... 2,701,000 2,700,999 3.276%, 3M LIBOR + 3.100%, 01/24/33 (144A) (e) ...... 1,509,124 1,523,975 Oaktown Re III, Ltd. OZLM, Ltd. 2.642%, 1M LIBOR + 2.550%, 07/25/29 (144A) (e) ...... 1,500,000 1,506,324 1.734%, 3M LIBOR + 1.550%, 04/15/31 (144A) (e) ...... 3,000,000 2,992,050 PMT Credit Risk Transfer Trust Pikes Peak CLO 2.446%, 1M LIBOR + 2.350%, 02/27/23 (144A) † (e) ...... 1,456,851 1,458,428 1.322%, 3M LIBOR + 1.170%, 07/20/34 (144A) (e) ...... 968,631 968,631 2.796%, 1M LIBOR + 2.700%, 10/27/22 (144A) (e) ...... 48,897 49,049 Vibrant CLO XI, Ltd. 2.846%, 1M LIBOR + 2.750%, 05/27/23 (144A) (e) ...... 479,355 474,707 1.558%, 3M LIBOR + 1.370%, 07/20/32 (144A) (e) ...... 1,300,000 1,300,010 Radnor RE, Ltd. Total Asset-Backed Securities 2.792%, 1M LIBOR + 2.700%, 03/25/28 (144A) (e) ...... 1,600,000 1,616,161 (Cost $22,558,867) ...... 22,618,936 3.292%, 1M LIBOR + 3.200%, 02/25/29 (144A) (e) ...... 2,751,041 2,790,193 16,154,648 U.S. Treasury & Government Agencies—2.4% Commercial Mortgage-Backed Securities—0.1% Agency Sponsored Mortgage - Backed—2.4% BFLD Trust Connecticut Avenue Securities Trust (CMO) 1.700%, 1M LIBOR + 1.600%, 06/15/38 (144A) (e) ...... 310,000 310,278 2.092%, 1M LIBOR + 2.000%, 07/25/39 (144A) (e) ...... 123,063 123,558 JPMorgan Chase Commercial Mortgage Securities Trust 2.192%, 1M LIBOR + 2.100%, 09/25/39 (144A) (e) ...... 261,295 262,533 4.566%, 12/15/47 (144A) (e) ...... 1,500,000 1,064,894 2.192%, 1M LIBOR + 2.100%, 10/25/39 (144A) (e) ...... 204,617 205,462 1,375,172 2.242%, 1M LIBOR + 2.150%, 09/25/31 (144A) (e) ...... 968,728 975,630 2.392%, 1M LIBOR + 2.300%, 08/25/31 (144A) (e) ...... 940,571 947,057 Total Mortgage-Backed Securities 2.492%, 1M LIBOR + 2.400%, 04/25/31 (144A) (e) ...... 1,644,242 1,653,270 (Cost $16,332,801) ...... 17,529,820 Fannie Mae Connecticut Avenue Securities (CMO) 2.192%, 1M LIBOR + 2.100%, 03/25/31 (e) ...... 2,039,511 2,063,138 2.342%, 1M LIBOR + 2.250%, 07/25/30 (e) ...... 2,149,075 2,178,848 Short-Term Investment—1.1% 2.492%, 1M LIBOR + 2.400%, 05/25/30 (e) ...... 2,075,849 2,104,960 3.742%, 1M LIBOR + 3.650%, 09/25/29 (e) ...... 614,181 636,077 Repurchase Agreement—1.1% 10.342%, 1M LIBOR + 10.250%, 01/25/29 (e) ...... 478,354 557,779 Fixed Income Clearing Corp. Freddie Mac STACR Trust (CMO) Repurchase Agreement dated 06/30/21 at 0.000%, due on 2.042%, 1M LIBOR + 1.950%, 10/25/49 (144A) (e) ...... 198,518 199,568 07/01/21 with a maturity value of $9,326,339; 2.142%, 1M LIBOR + 2.050%, 07/25/49 (144A) (e) ...... 107,824 108,771 collateralized by U.S. Treasury Note at 2.625%, 2.392%, 1M LIBOR + 2.300%, 10/25/48 (144A) (e) ...... 2,000,000 2,018,068 maturing 12/31/23, with a market value 2.442%, 1M LIBOR + 2.350%, 02/25/49 (144A) (e) ...... 304,770 307,912 of $9,512,970...... 9,326,339 9,326,339 2.742%, 1M LIBOR + 2.650%, 01/25/49 (144A) (e) ...... 4,433,470 4,497,663 Total Short-Term Investments Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) (Cost $9,326,339) ...... 9,326,339 2.742%, 1M LIBOR + 2.650%, 12/25/29 (e) ...... 556,795 567,425 5.242%, 1M LIBOR + 5.150%, 11/25/28 (e) ...... 1,610,161 1,686,217 Total U.S. Treasury & Government Agencies Securities Lending Reinvestments (g)—0.8% (Cost $20,896,143) ...... 21,093,936 Certificate of Deposit—0.0% Agricultural Bank of China Mortgage-Backed Securities—2.0% 0.100%, 07/01/21 ...... 20,244 20,244

Collateralized Mortgage Obligations—1.9% Bellemeade Re, Ltd. 1.692%, 1M LIBOR + 1.600%, 07/25/29 (144A) (e) ...... 766,877 768,832

See accompanying notes to financial statements. BHFTI-36 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (g)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal † Restricted securities are not registered under the Securities Act of 1933 and are subject Security Description Amount* Value to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Repurchase Agreements—0.2% Disposal of these securities may involve time-consuming negotiations and prompt sale BofA Securities, Inc. at an acceptable price may be difficult. As of June 30, 2021, the market value of Repurchase Agreement dated 06/30/21 at 0.050%, due on restricted securities was $1,458,428, which is 0.2% of net assets. See details shown in 07/01/21 with a maturity value of $1,515,221; the Restricted Securities table that follows. collateralized by U.S. Treasury Bond at 2.875%, (a) Security is a “step-up” bond where coupon increases or steps up at a predetermined maturing 05/15/49, and an aggregate market value date. Rate shown is current coupon rate. of $1,545,523...... 1,515,218 $ 1,515,218 (b) Principal amount of security is adjusted for inflation. Mizuho Securities USA, Inc. (c) Non-income producing; security is in default and/or issuer is in bankruptcy. Repurchase Agreement dated 06/30/21 at 0.040%, due on (d) All or a portion of the security was held on loan. As of June 30, 2021, the market value 07/01/21 with a maturity value of $410,545; of securities loaned was $8,374,605 and the collateral received consisted of cash in the collateralized by U.S. Treasury Note at 0.250%, amount of $6,887,357 and non-cash collateral with a value of $1,800,725. The cash maturing 06/15/24, and an aggregate market value collateral investments are disclosed in the Schedule of Investments and categorized as of $418,755...... 410,544 410,544 Securities Lending Reinvestments. The non-cash collateral received consists of U.S. 1,925,762 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. As such, this Time Deposit—0.0% collateral is excluded from the Statement of Assets and Liabilities. Landesbank Baden-Wuettertemberg (London) (e) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 0.040%, 07/01/21 ...... 41,350 41,350 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 Mutual Funds—0.6% indicated in the description above. For certain variable rate securities, the coupon rate is BlackRock Liquidity Funds FedFund, Institutional Shares determined by the issuer/agent based on current market conditions. For certain asset- 0.030% (h) ...... 1,000,000 1,000,000 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Fidelity Government Portfolio, Institutional Class underlying collateral or prepayments of principal. These securities do not indicate a 0.010% (h) ...... 1,000,000 1,000,000 reference index and spread in their description above. Goldman Sachs Financial Square Government Fund, (f) Payment-in-kind security for which part of the income earned may be paid as additional Institutional Shares principal. 0.020% (h) ...... 500,000 500,000 (g) Represents investment of cash collateral received from securities on loan as of June 30, Morgan Stanley Liquidity Funds Government Portfolio, 2021. Institutional Shares (h) The rate shown represents the annualized seven-day yield as of June 30, 2021. 0.030% (h) ...... 1,000,000 1,000,000 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. SSgA Institutional U.S. Government Money Market Fund, These securities may be resold in transactions exempt from registration, normally to Premier Class qualified institutional buyers. As of June 30, 2021, the market value of 144A securities 0.030% (h) ...... 400,000 400,000 was $235,751,817, which is 27.1% of net assets. Wells Fargo Government Money Market Fund, Select Class 0.030% (h) ...... 1,000,000 1,000,000 4,900,000 Total Securities Lending Reinvestments (Cost $6,887,356) ...... 6,887,356 Total Investments—98.4% (Cost $844,290,377) ...... 854,887,256 Other assets and liabilities (net)—1.6% ...... 14,089,581 Net Assets—100.0% ...... $868,976,837

Acquisition Principal Restricted Securities Date Amount Cost Value PMT Credit Risk Transfer Trust, 2.446%, 02/27/23 ...... 02/11/20 $1,456,851 $1,456,851 $1,458,428

See accompanying notes to financial statements. BHFTI-37 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) AUD 3,252,552 ANZ ...... 08/25/21 USD 2,520,500 $ (80,667) CAD 5,099,256 BNP ...... 07/16/21 USD 4,182,017 (68,430) CAD 7,784,927 MSC ...... 07/16/21 USD 6,189,657 90,471 EUR 3,180,019 MSC ...... 08/03/21 USD 3,838,802 (65,603) EUR 3,348,538 MSC ...... 08/03/21 USD 4,082,706 (109,553) EUR 616,079 SSBT ...... 08/03/21 USD 747,665 (16,667) EUR 675,058 SSBT ...... 08/03/21 USD 817,251 (16,271) EUR 1,482,393 SSBT ...... 08/03/21 USD 1,808,824 (49,915) EUR 2,186,232 SSBT ...... 08/03/21 USD 2,611,206 (17,170) GBP 838,099 SSBT ...... 08/26/21 USD 1,167,176 (7,685) JPY 331,953,559 MSC ...... 08/19/21 USD 3,050,318 (61,128) JPY 1,201,889,907 MSC ...... 08/19/21 USD 10,906,615 (83,785) JPY 1,049,732,002 SSBT ...... 08/19/21 USD 9,455,465 (2,792) KRW 1,348,329,456 UBSA ...... 07/22/21 USD 1,194,632 2,514

Contracts to Deliver AUD 25,503,795 ANZ ...... 08/25/21 USD 19,763,656 632,525 CAD 35,072,599 CBNA ...... 07/16/21 USD 28,018,182 (275,008) CAD 1,763,362 CBNA ...... 07/16/21 USD 1,408,683 (13,827) CAD 11,477,042 HSBCU ...... 07/16/21 USD 9,187,145 (71,424) CAD 131,953 SSBT ...... 07/16/21 USD 109,207 2,761 CNY 37,446 CBNA ...... 09/16/21 USD 5,750 (15) COP 9,147,090,435 CBNA ...... 07/15/21 USD 2,434,874 (904) EUR 9,452,839 BOA ...... 08/03/21 USD 11,471,248 255,139 EUR 2,348,624 BOA ...... 08/03/21 USD 2,849,347 62,627 EUR 1,572,556 CBNA ...... 08/03/21 USD 1,907,845 41,955 EUR 3,683,620 HSBCU ...... 08/03/21 USD 4,518,777 148,040 EUR 3,692,478 SSBT ...... 08/03/21 USD 4,511,669 130,421 EUR 303,195 SSBT ...... 08/03/21 USD 371,822 12,070 EUR 266,476 SSBT ...... 08/03/21 USD 318,298 2,116 EUR 224,073 SSBT ...... 08/03/21 USD 266,319 448 EUR 175,462 SSBT ...... 08/03/21 USD 209,240 1,049 EUR 153,796 SSBT ...... 08/03/21 USD 187,775 5,291 EUR 123,558 SSBT ...... 08/03/21 USD 151,070 4,465 EUR 147,965,704 UBSA ...... 08/03/21 USD 181,433,326 5,867,086 EUR 17,022,339 UBSA ...... 08/03/21 USD 20,872,537 674,964 EUR 426,934 UBSA ...... 08/03/21 USD 523,500 16,929 GBP 17,941,850 CBNA ...... 08/26/21 USD 25,264,762 442,636 GBP 2,798,089 CBNA ...... 08/26/21 USD 3,940,121 69,030 IDR 14,925,164,076 HSBCU ...... 07/15/21 USD 1,009,344 (18,927) IDR 49,486,181,576 JPMC ...... 07/15/21 USD 3,348,639 (60,716) JPY 393,751,922 BOA ...... 08/19/21 USD 3,611,584 65,909 JPY 9,197,675,993 MSC ...... 08/19/21 USD 84,517,344 1,693,709 JPY 156,383,389 SSBT ...... 08/19/21 USD 1,408,660 452 KRW 12,720,844,606 SCB ...... 07/22/21 USD 11,408,932 114,423 KRW 11,598,830,064 SCB ...... 07/22/21 USD 10,215,543 (82,757) KRW 8,858,330 SCB ...... 07/22/21 USD 7,945 80 MXN 172,130,580 CBNA ...... 08/27/21 USD 8,488,078 (87,834) MXN 748,694 SSBT ...... 08/27/21 USD 36,985 (317) MXN 70,764,547 UBSA ...... 08/27/21 USD 3,505,208 (20,432) MYR 9,514,791 MSC ...... 09/23/21 USD 2,300,203 15,967 RUB 332,257,776 BOA ...... 07/28/21 USD 4,472,082 (54,359) SGD 37,824 SSBT ...... 08/19/21 USD 28,389 261 THB 94,869,947 SSBT ...... 07/15/21 USD 3,050,971 91,018 ZAR 88,241,685 GSI ...... 09/16/21 USD 6,350,952 230,291 Net Unrealized Appreciation ...... $9,408,461

See accompanying notes to financial statements. BHFTI-38 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts Value/ Unrealized Expiration Number of Appreciation/ Futures Contracts—Long Date Contracts Notional Value (Depreciation) Australian 10 Year Treasury Bond Futures ...... 09/15/21 90 AUD 12,707,009 $ 38,251 Euro-Bund Futures ...... 09/08/21 96 EUR 16,570,560 44,231 Japanese Government 10 Year Bond Futures ...... 09/13/21 2 JPY 303,380,000 5,304 U.S. Treasury Long Bond Futures ...... 09/21/21 89 USD 14,306,750 331,145 U.S. Treasury Note 10 Year Futures ...... 09/21/21 53 USD 7,022,500 40,504 U.S. Treasury Note 5 Year Futures ...... 09/30/21 599 USD 73,934,383 (95,514)

Futures Contracts—Short Euro-Bobl Futures ...... 09/08/21 (193) EUR (25,890,950) 11,350 U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 (57) USD (8,390,578) (147,032) U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 (49) USD (9,441,688) (345,026) Net Unrealized Depreciation ...... $(116,787)

Swap Agreements OTC Interest Rate Swaps Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Upfront Premium Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Counterparty Amount Value Paid/(Received) (Depreciation)(1) Pay...... 6MEURIBOR Semi-Annually (0.017)% Semi-Annually 09/30/50 MSC EUR 3,800,000 $ (633,553) $— $ (633,553) Pay...... 6MEURIBOR Semi-Annually (0.430)% Semi-Annually 11/10/50 MSC EUR 3,820,000 (672,401) — (672,401) Totals ...... $(1,305,954) $— $(1,305,954)

(1) There is no upfront payment premium paid or (received) therefore Market Value equals Unrealized Appreciation/(Depreciation).

Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay...... 12MCPI Maturity 2.348% Maturity 02/22/51 USD 2,730,000 $(108,084) $ — $(108,084) Pay...... 3MCDOR Semi-Annually 1.980% Semi-Annually 05/22/24 CAD 17,359,000 366,277 7 366,270 Pay...... 7DayCNRR Quarterly 2.855% Quarterly 11/22/24 CNY 26,130,000 22,901 — 22,901 Pay...... 7DayCNRR Quarterly 1.780% Quarterly 05/06/25 CNY 40,620,000 (215,071) — (215,071) Pay...... 7DayCNRR Quarterly 2.360% Quarterly 07/01/25 CNY 50,360,000 (109,313) — (109,313) Pay...... 7DayCNRR Quarterly 2.568% Quarterly 07/20/25 CNY 79,220,000 (77,410) — (77,410) Pay...... 7DayCNRR Quarterly 2.585% Quarterly 08/03/25 CNY 41,560,000 (36,069) — (36,069) Pay...... 7DayCNRR Quarterly 2.595% Quarterly 11/02/25 CNY 40,400,000 (38,908) — (38,908) Pay...... 7DayCNRR Quarterly 2.598% Quarterly 07/16/25 CNY 79,300,000 (63,223) — (63,223) Pay...... 7DayCNRR Quarterly 2.600% Quarterly 09/29/25 CNY 40,730,000 (35,227) — (35,227) Pay...... 7DayCNRR Quarterly 2.605% Quarterly 02/04/25 CNY 25,990,000 (12,593) — (12,593) Pay...... 7DayCNRR Quarterly 2.800% Quarterly 02/01/26 CNY 47,100,000 12,925 — 12,925 Pay...... 7DayCNRR Quarterly 2.983% Quarterly 01/06/25 CNY 69,210,000 105,117 — 105,117 Receive ...... 3MLIBOR Semi-Annually 1.645% Quarterly 05/21/31 USD 8,050,000 (151,054) — (151,054) Receive ...... 3MLIBOR Semi-Annually 1.854% Quarterly 02/22/51 USD 4,310,000 (97,119) — (97,119) Receive ...... 6MEURIBOR Annually 0.022% Semi-Annually 11/10/50 EUR 3,820,000 589,044 29,146 559,898 Receive ...... 6MEURIBOR Annually 0.122% Semi-Annually 09/30/50 EUR 3,800,000 457,489 — 457,489 Totals ...... $609,682 $29,153 $ 580,529

See accompanying notes to financial statements. BHFTI-39 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Centrally Cleared Credit Default Swaps on Credit Indices—Buy Protection (a) Implied Upfront Credit Spread at Premiums Unrealized Fixed Deal Payment Maturity June 30, Notional Market Paid/ Appreciation/ Reference Obligation (Pay) Rate Frequency Date 2021 (b) Amount (c) Value (Received) (Depreciation) CDX.NA.HY.36.V1 ...... (5.000%) Quarterly 06/20/26 2.746% USD 25,350,000 $(2,584,519) $(2,382,180) $(202,339)

OTC Credit Default Swaps on Credit Indices—Sell Protection (d) Implied Upfront Credit Spread at Premium Unrealized Fixed Deal Payment Maturity June 30, Notional Market Paid/ Appreciation/ Reference Obligation Receive Rate Frequency Date Counterparty 2021 (b) Amount (c) Value (Received) (Depreciation) CMBX.NA.BB.6 ...... 5.000% Monthly 05/11/63 GSI 56.729% USD 4,851,091 $ (2,163,133) $ (970,359) $(1,192,774) CMBX.NA.BB.6 ...... 5.000% Monthly 05/11/63 JPMC 56.729% USD 1,673,626 (746,281) (327,374) (418,907) CMBX.NA.BB.6 ...... 5.000% Monthly 05/11/63 JPMC 56.729% USD 4,851,091 (2,163,133) (966,094) (1,197,039) CMBX.NA.BBB-.6 ...... 3.000% Monthly 05/11/63 CGM 29.499% USD 947,000 (250,471) (79,579) (170,892) CMBX.NA.BBB-.6 ...... 3.000% Monthly 05/11/63 CGM 29.499% USD 1,421,000 (375,839) (118,811) (257,028) CMBX.NA.BBB-.6 ...... 3.000% Monthly 05/11/63 CGM 29.499% USD 10,939,000 (2,893,245) (942,167) (1,951,078) CMBX.NA.BBB-.6 ...... 3.000% Monthly 05/11/63 GSI 29.499% USD 947,000 (250,471) (79,199) (171,272) CMBX.NA.BBB-.6 ...... 3.000% Monthly 05/11/63 JPMC 29.499% USD 474,000 (125,368) (39,632) (85,736) CMBX.NA.BBB-.6 ...... 3.000% Monthly 05/11/63 JPMC 29.499% USD 5,485,000 (1,450,722) (562,917) (887,805) Totals ...... $(10,418,663) $(4,086,132) $(6,332,531)

(a) If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. (b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation. (c) The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation. (d) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

Glossary of Abbreviations

Counterparties (ANZ)— Australia & New Zealand Banking Corp. (CSI)— Credit Suisse International (SCB)— Standard Chartered Bank (BNP)— BNP Paribas S.A. (GSI)— Goldman Sachs International (SSBT)— State Street Bank and Trust Co. (BOA)— Bank of America N.A. (HSBCU)—HSBC Bank USA (UBSA)— UBS AG (CBNA)— Citibank N.A. (JPMC)— JPMorgan Chase Bank N.A. (CGM)— Citigroup Global Markets, Inc. (MSC)— Morgan Stanley & Co.

Currencies (AUD)— Australian Dollar (IDR)— Indonesian Rupiah (SGD)— Singapore Dollar (CAD)— Canadian Dollar (JPY)— Japanese Yen (THB)— Thai Baht (CNY)— Chinese Yuan (KRW)— South Korean Won (USD)— United States Dollar (COP)— Colombian Peso (MXN)— Mexican Peso (ZAR)— South African Rand (EUR)— Euro (MYR)— Malaysian Ringgit (GBP)— British Pound (RUB)— Russian Ruble

See accompanying notes to financial statements. BHFTI-40 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations—(Continued)

Index Abbreviations (CDOR)— Canadian Dollar Offered Rate (CNRR)— China 7 Day Reverse Repo Rates (LIBOR)—London Interbank Offered Rate (CDX.NA.HY)— Markit North America High Yield CDS Index (CPI)— Consumer Price Index (UKG)— United Kingdom Gilts (CMBX.NA.BB)— Markit North America BB Rated CMBS Index (EURIBOR)— Euro InterBank Offered Rate (UST)— U.S. Treasury Bill Rate (CMBX.NA.BBB-)— Markit North America BBB- Rated CMBS (H15)— U.S. Treasury Yield Curve Rate T-Note Constant Index Maturity Index

Other Abbreviations (CDO)— Collateralized Debt Obligation (ICE)— Intercontinental Exchange, Inc. (CLO)— Collateralized Loan Obligation (STACR)— Structured Agency Credit Risk (CMO)— Collateralized Mortgage Obligation

See accompanying notes to financial statements. BHFTI-41 Brighthouse Funds Trust I AB International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Foreign Government* ...... $ — $518,674,557 $— $518,674,557 Total Corporate Bonds & Notes* ...... — 258,756,312 — 258,756,312 Total Asset-Backed Securities* ...... — 22,618,936 — 22,618,936 Total U.S. Treasury & Government Agencies* ...... — 21,093,936 — 21,093,936 Total Mortgage-Backed Securities* ...... — 17,529,820 — 17,529,820 Total Short-Term Investment* ...... — 9,326,339 — 9,326,339 Securities Lending Reinvestments Certificate of Deposit ...... — 20,244 — 20,244 Repurchase Agreements ...... — 1,925,762 — 1,925,762 Time Deposit ...... — 41,350 — 41,350 Mutual Funds ...... 4,900,000 — — 4,900,000 Total Securities Lending Reinvestments ...... 4,900,000 1,987,356 — 6,887,356 Total Investments ...... $4,900,000 $849,987,256 $— $854,887,256 Collateral for Securities Loaned (Liability) ...... $ — $ (6,887,357) $— $ (6,887,357) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 10,674,647 $— $ 10,674,647 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (1,266,186) — (1,266,186) Total Forward Contracts ...... $ — $ 9,408,461 $— $ 9,408,461 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 470,785 $ — $— $ 470,785 Futures Contracts (Unrealized Depreciation) ...... (587,572) — — (587,572) Total Futures Contracts ...... $(116,787) $ — $— $ (116,787) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 1,524,600 $— $ 1,524,600 Centrally Cleared Swap Contracts (Unrealized Depreciation) ...... — (1,146,410) — (1,146,410) Total Centrally Cleared Swap Contracts ...... $ — $ 378,190 $— $ 378,190 OTC Swap Contracts OTC Swap Contracts at Value (Liabilities) ...... — (11,724,617) — (11,724,617) Total OTC Swap Contracts ...... $ — $(11,724,617) $— $ (11,724,617)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-42 Brighthouse Funds Trust I American Funds Balanced Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—100.1% of Net Assets

Security Description Shares Value Security Description Shares Value

Investment Company Securities — 100.1% Investment Company Securities —(Continued) American Funds AMCAP Fund (Class R-6) ...... 9,735,858 $ 422,341,529 American Funds New World Fund (Class 1) ...... 3,106,513 $ 104,503,095 American Funds American Mutual Fund (Class R-6) ...... 7,218,657 362,087,812 American Funds U.S. Government Securities Fund (Class R-6) . . . 38,118,767 538,236,988 American Funds Bond Fund (Class 1) (a) ...... 56,365,473 637,493,501 American Funds Washington Mutual Investors Fund American Funds Capital World Bond Fund (Class 1) (a) ...... 12,659,299 153,810,481 (Class 1) (a) ...... 25,096,478 413,088,022 American Funds Fundamental Investors Fund (Class R-6) ...... 5,477,082 418,284,787 Total Mutual Funds American Funds Global Small Capitalization Fund (Class 1) (a) . . 4,394,459 155,607,800 (Cost $4,026,417,720) ...... 5,090,960,859 American Funds Growth Fund (Class 1) ...... 3,831,794 453,262,956 American Funds Growth-Income Fund (Class 1) ...... 7,537,146 470,619,425 Total Investments—100.1% American Funds High-Income Trust Fund (Class R-6) (a) ...... 19,352,182 204,359,038 (Cost $4,026,417,720) ...... 5,090,960,859 American Funds International Fund (Class 1) (a) ...... 13,338,818 330,002,361 Other assets and liabilities (net)—(0.1)% ...... (2,806,866) American Funds International Growth and Income Fund Net Assets—100.0% ...... $5,088,153,993 (Class 1) (a) ...... 21,037,078 427,263,064 (a) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of transactions in securities of affiliated issuers.)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Mutual Funds Investment Company Securities ...... $5,090,960,859 $— $— $5,090,960,859 Total Investments ...... $5,090,960,859 $— $— $5,090,960,859

See accompanying notes to financial statements. BHFTI-43 Brighthouse Funds Trust I American Funds Growth Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—100.1% of Net Assets

Security Description Shares Value Security Description Shares Value

Investment Company Securities—100.1% Investment Company Securities—(Continued) American Funds AMCAP Fund (Class R-6) ...... 9,613,940 $ 417,052,707 American Funds New World Fund (Class 1) ...... 3,194,873 $ 107,475,525 American Funds American Mutual Fund (Class R-6) ...... 6,379,081 319,974,694 American Funds U.S. Government Securities Fund (Class R-6) . . . 2,400,393 33,893,546 American Funds Bond Fund (Class 1) ...... 12,037,315 136,142,036 American Funds Washington Mutual Investors Fund American Funds Capital World Bond Fund (Class 1) (a) ...... 5,811,152 70,605,493 (Class 1) (a) ...... 21,529,489 354,375,388 American Funds Fundamental Investors Fund (Class R-6) ...... 5,163,389 394,328,031 Total Mutual Funds American Funds Global Small Capitalization Fund (Class 1) (a) . . 4,991,167 176,737,241 (Cost $2,571,218,859) ...... 3,534,367,924 American Funds Growth Fund (Class 1) ...... 3,241,043 383,383,014 American Funds Growth-Income Fund (Class 1) ...... 5,747,068 358,846,940 Total Investments—100.1% American Funds High-Income Trust Fund (Class R-6) ...... 9,819,259 103,691,372 (Cost $2,571,218,859) ...... 3,534,367,924 American Funds International Fund (Class 1) (a) ...... 12,347,803 305,484,636 Other assets and liabilities (net)—(0.1)% ...... (2,029,958) American Funds International Growth and Income Fund Net Assets—100.0% ...... $3,532,337,966 (Class 1) (a) ...... 18,334,678 372,377,301 (a) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of transactions in securities of affiliated issuers.)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Mutual Funds Investment Company Securities ...... $3,534,367,924 $— $— $3,534,367,924 Total Investments ...... $3,534,367,924 $— $— $3,534,367,924

See accompanying notes to financial statements. BHFTI-44 Brighthouse Funds Trust I American Funds Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—100.1% of Net Assets

Security Description Shares Value

Investment Company Securities—100.1% American Funds Growth Fund (Class 1) (a) (Cost $1,225,845,616) ...... 15,742,572 $ 1,862,188,859 Total Investments—100.1% (Cost $1,225,845,616) ...... 1,862,188,859 Other assets and liabilities (net)—(0.1)% ...... (1,093,222) Net Assets—100.0% ...... $1,861,095,637

(a) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of transactions in securities of affiliated issuers.)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Mutual Funds Investment Company Securities ...... $1,862,188,859 $— $— $1,862,188,859 Total Investments ...... $1,862,188,859 $— $— $1,862,188,859

See accompanying notes to financial statements. BHFTI-45 Brighthouse Funds Trust I American Funds Moderate Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—100.1% of Net Assets

Security Description Shares Value Security Description Shares Value

Investment Company Securities—100.1% Investment Company Securities—(Continued) American Funds AMCAP Fund (Class R-6) ...... 3,250,999 $ 141,028,327 American Funds New World Fund (Class 1) ...... 832,298 $ 27,998,518 American Funds American Mutual Fund (Class R-6) ...... 4,405,944 221,002,155 American Funds U.S. Government Securities Fund (Class R-6) . . . 37,149,454 524,550,296 American Funds Bond Fund (Class 1) (a) ...... 44,164,128 499,496,288 American Funds Washington Mutual Investors Fund (Class 1) . . . 13,439,056 221,206,862 American Funds Capital World Bond Fund (Class 1) (a) ...... 6,749,039 82,000,822 Total Mutual Funds American Funds Fundamental Investors Fund (Class R-6) ...... 1,830,267 139,777,492 (Cost $2,285,268,353) ...... 2,703,809,103 American Funds Global Small Capitalization Fund (Class 1) ..... 786,609 27,853,809 American Funds Growth Fund (Class 1) ...... 1,200,556 142,013,715 Total Investments—100.1% American Funds Growth-Income Fund (Class 1) ...... 3,577,522 223,380,477 (Cost $2,285,268,353) ...... 2,703,809,103 American Funds High-Income Trust Fund (Class R-6) ...... 13,113,002 138,473,296 Other assets and liabilities (net)—(0.1)% ...... (1,632,969) American Funds International Fund (Class 1) ...... 5,825,938 144,133,696 Net Assets—100.0% ...... $2,702,176,134 American Funds International Growth and Income Fund (Class 1) (a) ...... 8,414,247 170,893,350 (a) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of transactions in securities of affiliated issuers.)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Mutual Funds Investment Company Securities ...... $2,703,809,103 $— $— $2,703,809,103 Total Investments ...... $2,703,809,103 $— $— $2,703,809,103

See accompanying notes to financial statements. BHFTI-46 Brighthouse Funds Trust I AQR Global Risk Balanced Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—25.0% of Net Assets

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

U.S. Treasury—25.0% Mutual Funds—(Continued) U.S. Treasury Inflation Indexed Notes UBS Select Treasury Institutional Fund, Institutional Class 0.125%, 10/15/25 (a) ...... 45,994,065 $ 50,049,089 0.010% (b) ...... 270,446,690 $ 270,446,690 0.125%, 01/15/30 (a) ...... 90,071,492 98,866,364 1,010,101,534 0.125%, 07/15/30 (a) ...... 96,840,900 106,822,574 0.125%, 01/15/31 (a) ...... 83,483,840 91,865,922 U.S. Treasury—22.5% 0.250%, 07/15/29 (a) ...... 85,795,428 95,440,711 U.S. Treasury Bills 0.375%, 07/15/27 (a) ...... 64,688,464 72,137,745 Zero Coupon, 07/01/21 (d) ...... 9,761,000 9,761,000 0.500%, 01/15/28 (a) ...... 67,744,912 75,945,752 0.002%, 07/08/21 (d) ...... 4,594,000 4,593,965 0.750%, 07/15/28 (a) ...... 66,857,896 76,708,989 0.003%, 07/15/21 (d) (e) ...... 42,718,000 42,717,253 0.875%, 01/15/29 (a) ...... 67,817,788 78,465,534 0.005%, 07/22/21 (d) ...... 23,045,000 23,044,359 Total U.S. Treasury & Government Agencies 0.005%, 08/12/21 (d) ...... 9,067,000 9,066,392 (Cost $728,741,700) ...... 746,302,680 0.006%, 07/29/21 (d) ...... 1,212,000 1,211,955 0.006%, 08/26/21 (d) (e) ...... 52,297,000 52,293,380 0.007%, 08/19/21 (d) (e) ...... 38,484,000 38,481,643 Foreign Government—15.2% 0.007%, 09/23/21 (d) ...... 40,029,000 40,024,330 0.007%, 10/07/21 (d) ...... 71,420,000 71,410,279 Sovereign—15.2% 0.008%, 09/30/21 (d) ...... 121,508,000 121,491,875 Deutsche Bundesrepublik Inflation Linked Bond 0.009%, 10/14/21 (d) ...... 68,556,000 68,546,502 0.500%, 04/15/30 (EUR) (a) ...... 94,038,232 134,487,200 0.009%, 10/21/21 (d) (e) ...... 130,212,000 130,192,757 France Government Bond OAT 0.018%, 12/30/21 (d) ...... 58,568,000 58,552,307 0.100%, 03/01/26 (144A) (EUR) (a) ...... 9,030,385 11,645,996 0.100%, 03/01/28 (EUR) (a) ...... 20,046,214 26,388,520 671,387,997 0.100%, 03/01/29 (EUR) (a) ...... 15,780,226 21,125,176 Total Short-Term Investments 0.100%, 07/25/31 (144A) (EUR) (a) ...... 5,385,966 7,375,090 (Cost $1,681,498,899) ...... 1,681,489,531 0.700%, 07/25/30 (144A) (EUR) (a) ...... 34,483,803 49,390,033 1.850%, 07/25/27 (EUR) (a) ...... 30,854,162 44,879,220 Total Investments—96.5% United Kingdom Gilt Inflation Linked Bonds (Cost $2,833,013,210) ...... 2,880,541,367 0.125%, 03/22/26 (GBP) (a) ...... 3,146,634 5,031,549 Other assets and liabilities (net)—3.5% ...... 104,742,902 0.125%, 08/10/28 (GBP) (a) ...... 20,117,324 34,323,528 Net Assets—100.0% ...... $2,985,284,269 0.125%, 03/22/29 (GBP) (a) ...... 21,689,149 37,400,881 0.125%, 08/10/31 (GBP) (a) ...... 4,510,264 8,246,150 1.250%, 11/22/27 (GBP) (a) ...... 3,754,511 6,711,722 * Principal amount stated in U.S. dollars unless otherwise noted. 1.250%, 11/22/32 (GBP) (a) ...... 31,463,788 65,744,091 (a) Principal amount of security is adjusted for inflation. (b) The rate shown represents the annualized seven-day yield as of June 30, 2021. Total Foreign Government (c) All or a portion of the security was pledged as collateral against open OTC swap (Cost $422,772,611) ...... 452,749,156 contracts and open forward foreign currency exchange contracts. As of June 30, 2021, the market value of securities pledged was $68,096,734. Short-Term Investments—56.3% (d) The rate shown represents current yield to maturity. (e) All or a portion of the security was pledged as collateral against open futures contracts. Mutual Funds—33.8% As of June 30, 2021, the market value of securities pledged was $6,109,147. BlackRock Liquidity Funds T-Fund Portfolio, Institutional Shares, (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. 0.010% (b) ...... 239,968,171 239,968,171 These securities may be resold in transactions exempt from registration, normally to Dreyfus Treasury Obligations Cash Management Fund, qualified institutional buyers. As of June 30, 2021, the market value of 144A securities Institutional Class was $68,411,119, which is 2.3% of net assets. 0.010% (b) ...... 234,508,767 234,508,767 State Street Institutional Liquid Reserves Fund, Premier Class 0.050% (b) (c) ...... 68,076,311 68,096,734 State Street Institutional Treasury Plus Money Market Fund, Premier Class 0.010% (b) ...... 197,081,172 197,081,172

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-47 Brighthouse Funds Trust I AQR Global Risk Balanced Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) EUR 6,129,000 CBNA ...... 09/15/21 USD 7,321,939 $ (43,415) EUR 10,313,000 CBNA ...... 09/15/21 USD 12,263,951 (16,696) EUR 17,203,000 CBNA ...... 09/15/21 USD 20,518,730 (89,221) GBP 2,491,000 CBNA ...... 09/15/21 USD 3,478,528 (32,153) GBP 7,363,000 CBNA ...... 09/15/21 USD 10,181,513 5,422 GBP 12,354,000 CBNA ...... 09/15/21 USD 17,206,344 (114,207)

Contracts to Deliver EUR 11,672,101 CBNA ...... 09/15/21 USD 14,287,546 426,284 EUR 11,672,101 CBNA ...... 09/15/21 USD 14,283,026 421,765 EUR 11,672,101 CBNA ...... 09/15/21 USD 14,275,323 414,061 EUR 11,672,101 CBNA ...... 09/15/21 USD 14,266,229 404,967 EUR 11,672,101 CBNA ...... 09/15/21 USD 14,296,897 435,636 EUR 11,672,101 CBNA ...... 09/15/21 USD 14,300,756 439,494 EUR 11,497,891 CBNA ...... 09/15/21 USD 14,083,702 429,324 EUR 11,497,891 CBNA ...... 09/15/21 USD 14,042,419 388,041 EUR 11,497,891 CBNA ...... 09/15/21 USD 14,076,892 422,514 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,715,817 319,870 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,723,261 327,314 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,755,290 359,343 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,749,895 353,948 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,735,775 339,828 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,742,091 346,144 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,701,922 305,975 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,709,968 314,021 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,697,025 301,078 EUR 8,754,076 CBNA ...... 09/15/21 USD 10,698,027 302,081 EUR 8,710,524 CBNA ...... 09/15/21 USD 10,634,395 290,169 EUR 8,710,523 CBNA ...... 09/15/21 USD 10,653,208 308,983 EUR 8,710,523 CBNA ...... 09/15/21 USD 10,691,186 346,961 EUR 8,710,523 CBNA ...... 09/15/21 USD 10,681,370 337,145 EUR 8,710,523 CBNA ...... 09/15/21 USD 10,644,371 300,146 EUR 8,623,418 CBNA ...... 09/15/21 USD 10,545,738 304,954 EUR 8,623,418 CBNA ...... 09/15/21 USD 10,593,950 353,167 EUR 8,623,418 CBNA ...... 09/15/21 USD 10,564,570 323,787 EUR 8,623,418 CBNA ...... 09/15/21 USD 10,539,477 298,694 EUR 8,623,418 CBNA ...... 09/15/21 USD 10,519,815 279,032 EUR 7,005,000 CBNA ...... 09/15/21 USD 8,510,060 191,237 GBP 12,186,576 CBNA ...... 09/15/21 USD 17,228,239 367,738 GBP 12,007,362 CBNA ...... 09/15/21 USD 17,018,104 405,551 GBP 12,007,361 CBNA ...... 09/15/21 USD 17,041,943 429,391 GBP 11,828,148 CBNA ...... 09/15/21 USD 16,768,810 404,206 GBP 11,828,148 CBNA ...... 09/15/21 USD 16,734,058 369,453 GBP 11,828,147 CBNA ...... 09/15/21 USD 16,717,734 353,131 GBP 9,005,521 CBNA ...... 09/15/21 USD 12,756,845 297,432 GBP 9,005,521 CBNA ...... 09/15/21 USD 12,759,713 300,299 GBP 9,005,521 CBNA ...... 09/15/21 USD 12,738,496 279,082 GBP 9,005,521 CBNA ...... 09/15/21 USD 12,767,033 307,619 GBP 8,960,718 CBNA ...... 09/15/21 USD 12,667,370 269,943 GBP 8,960,717 CBNA ...... 09/15/21 USD 12,685,137 287,711 GBP 8,871,111 CBNA ...... 09/15/21 USD 12,566,537 293,084 GBP 8,871,110 CBNA ...... 09/15/21 USD 12,543,478 270,026 GBP 2,298,000 CBNA ...... 09/15/21 USD 3,239,606 60,252 Net Unrealized Appreciation ...... $14,790,611

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-48 Brighthouse Funds Trust I AQR Global Risk Balanced Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Index Futures ...... 07/16/21 37 EUR 5,397,042 $ (33,904) Australian 10 Year Treasury Bond Futures ...... 09/15/21 1,206 AUD 170,273,922 (203,890) CAC 40 Index Futures ...... 07/16/21 220 EUR 14,311,000 (334,525) Canada Government Bond 10 Year Futures ...... 09/21/21 1,114 CAD 162,109,280 1,600,663 Cattle Feeder Futures ...... 09/30/21 25 USD 1,967,813 26,689 Cocoa Futures ...... 09/15/21 124 USD 2,962,360 (99,355) Copper Futures ...... 07/22/21 105 USD 24,572,625 (207,349) Copper Futures ...... 08/11/21 10 USD 2,342,223 (274,054) Copper Futures ...... 08/12/21 9 USD 2,108,126 (271,047) Copper Futures ...... 09/13/21 394 USD 92,363,450 (5,132,886) Copper Futures ...... 09/22/21 15 USD 3,514,969 70,554 Cotton No. 2 Futures ...... 12/08/21 207 USD 8,787,150 247,345 DAX Index Futures ...... 09/17/21 30 EUR 11,646,000 (191,036) Euro STOXX 50 Index Futures ...... 09/17/21 918 EUR 37,229,490 (855,565) Euro-Bund Futures ...... 09/08/21 3,210 EUR 554,078,100 3,820,977 FTSE 100 Index Futures ...... 09/17/21 430 GBP 30,016,150 (728,600) FTSE JSE Top 40 Index Futures ...... 09/16/21 151 ZAR 90,412,760 (178,851) FTSE MIB Index Futures ...... 09/17/21 25 EUR 3,125,500 (87,691) FTSE Taiwan Index Futures ...... 07/29/21 172 USD 10,493,720 130,440 Hang Seng China Enterprises Index Futures ...... 07/29/21 255 HKD 134,780,250 (214,743) Hang Seng Index Futures ...... 07/29/21 38 HKD 54,397,000 (83,935) IBEX 35 Index Futures ...... 07/16/21 35 EUR 3,075,905 (167,912) Japanese Government 10 Year Bond Futures ...... 09/13/21 214 JPY 32,461,660,000 298,350 KOSPI 200 Index Futures ...... 09/09/21 99 KRW 10,861,537,500 144,202 LME Nickel Futures ...... 07/22/21 14 USD 1,529,241 180,853 LME Nickel Futures ...... 08/11/21 3 USD 327,708 4,959 LME Nickel Futures ...... 08/12/21 3 USD 327,713 3,164 LME Nickel Futures ...... 09/13/21 123 USD 13,441,932 392,622 LME Nickel Futures ...... 09/22/21 2 USD 218,568 6,102 LME Primary Aluminum Futures ...... 07/22/21 5 USD 314,938 20,737 LME Primary Aluminum Futures ...... 08/11/21 15 USD 945,938 (11,107) LME Primary Aluminum Futures ...... 08/12/21 13 USD 819,813 (4,101) LME Primary Aluminum Futures ...... 09/13/21 544 USD 34,333,200 1,165,955 LME Primary Aluminum Futures ...... 09/22/21 19 USD 1,199,071 53,553 LME Zinc Futures ...... 07/13/21 1 USD 74,238 5,120 LME Zinc Futures ...... 07/22/21 21 USD 1,558,988 82,101 LME Zinc Futures ...... 08/11/21 6 USD 445,844 (5,674) LME Zinc Futures ...... 08/12/21 5 USD 371,556 (5,958) LME Zinc Futures ...... 09/13/21 234 USD 17,415,450 173,640 LME Zinc Futures ...... 09/22/21 5 USD 371,844 15,860 Lead Futures ...... 07/22/21 25 USD 1,414,625 139,132 Lead Futures ...... 08/11/21 2 USD 113,424 1,819 Lead Futures ...... 08/12/21 2 USD 113,437 1,931 Lead Futures ...... 09/13/21 93 USD 5,280,075 265,968 Lead Futures ...... 09/22/21 2 USD 113,531 5,376 Lean Hogs Futures ...... 08/13/21 247 USD 10,201,100 (1,338,607) Live Cattle Futures ...... 08/31/21 100 USD 4,909,000 209,309 Live Cattle Futures ...... 10/29/21 25 USD 1,281,500 7,801 Russell 2000 Index E-Mini Futures ...... 09/17/21 453 USD 52,271,670 (298,865) S&P 500 Index E-Mini Futures ...... 09/17/21 3,135 USD 672,238,050 8,056,324 S&P Midcap 400 Index E-Mini Futures ...... 09/17/21 192 USD 51,694,080 (791,198) S&P TSX 60 Index Futures ...... 09/16/21 172 CAD 41,372,880 222,618 SGX CNX Nifty Index Futures ...... 07/29/21 564 USD 17,762,616 (84,827) SPI 200 Index Futures ...... 09/16/21 154 AUD 27,808,550 (179,294) Soybean Futures ...... 11/12/21 506 USD 35,394,700 (259,561) Soybean Meal Futures ...... 12/14/21 160 USD 6,107,200 (301,553) §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-49 Brighthouse Funds Trust I AQR Global Risk Balanced Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts—(Continued) Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Soybean Oil Futures ...... 12/14/21 207 USD 7,794,792 $ 677,458 Sugar No. 11 Futures ...... 09/30/21 423 USD 8,475,566 320,937 TOPIX Index Futures ...... 09/09/21 387 JPY 7,519,410,000 (545,813) U.S. Treasury Note 10 Year Futures ...... 09/21/21 8,741 USD 1,158,182,500 5,882,261 United Kingdom Long Gilt Bond Futures ...... 09/28/21 980 GBP 125,538,000 1,364,063 Wheat Futures ...... 09/14/21 113 USD 3,839,175 (187,071)

Futures Contracts—Short Copper Futures ...... 07/22/21 (105) USD (24,572,625) 195,313 Copper Futures ...... 08/11/21 (10) USD (2,342,223) 281,233 Copper Futures ...... 08/12/21 (9) USD (2,108,126) 256,911 Copper Futures ...... 09/13/21 (34) USD (7,970,450) 469,273 Copper Futures ...... 09/22/21 (15) USD (3,514,969) (55,644) LME Nickel Futures ...... 07/22/21 (14) USD (1,529,241) (180,606) LME Nickel Futures ...... 08/11/21 (3) USD (327,708) (4,617) LME Nickel Futures ...... 08/12/21 (3) USD (327,713) (5,882) LME Nickel Futures ...... 09/13/21 (8) USD (874,272) (14,007) LME Nickel Futures ...... 09/22/21 (2) USD (218,568) (5,701) LME Primary Aluminum Futures ...... 07/22/21 (5) USD (314,938) (19,848) LME Primary Aluminum Futures ...... 08/11/21 (15) USD (945,938) 14,610 LME Primary Aluminum Futures ...... 08/12/21 (13) USD (819,813) (5,466) LME Primary Aluminum Futures ...... 09/13/21 (47) USD (2,966,288) (37,514) LME Primary Aluminum Futures ...... 09/22/21 (19) USD (1,199,071) (54,502) LME Zinc Futures ...... 07/13/21 (1) USD (74,238) (5,040) LME Zinc Futures ...... 07/22/21 (21) USD (1,558,988) (79,024) LME Zinc Futures ...... 08/11/21 (6) USD (445,844) 6,751 LME Zinc Futures ...... 08/12/21 (5) USD (371,556) 2,360 LME Zinc Futures ...... 09/13/21 (16) USD (1,190,800) (4,688) LME Zinc Futures ...... 09/22/21 (5) USD (371,844) (15,785) Lead Futures ...... 07/22/21 (25) USD (1,414,625) (141,566) Lead Futures ...... 08/11/21 (2) USD (113,424) (2,030) Lead Futures ...... 08/12/21 (2) USD (113,437) (2,360) Lead Futures ...... 09/13/21 (6) USD (340,650) (8,811) Lead Futures ...... 09/22/21 (2) USD (113,531) (5,125) Net Unrealized Appreciation ...... $13,098,146

Swap Agreements

OTC Total Return Swaps Upfront Unrealized Maturity Underlying Reference Notional Market Premium Appreciation/ Date Counterparty Instrument Amount Value Paid/(Received) (Depreciation)(1) 08/18/21 GSI Bovespa Index Futures BRL 24,269,066 $ (153,397) $— $ (153,397) 08/18/21 MLI Bovespa Index Futures BRL 23,696,159 (165,941) — (165,941) 08/30/21 MLI Brent Oil Futures USD 52,435,930 1,947,300 — 1,947,300 09/21/21 BOA Canada 10 Year Bond Futures CAD 31,318,103 326,926 — 326,926 08/13/21 CBNA Coffee Futures USD 2,419,122 156,847 — 156,847 08/13/21 MLI Coffee Futures USD 12,156,216 723,628 — 723,628 08/27/21 CBNA Corn Futures USD 5,320,663 252,362 — 252,362 08/27/21 MLI Corn Futures USD 34,054,163 1,631,175 — 1,631,175 09/08/21 BOA Euro Bund 10 Year Bund Futures EUR 294,433,073 2,503,008 — 2,503,008 07/30/21 MLI Gold Futures USD 78,261,080 (842,160) — (842,160) 07/29/21 GSI Hang Seng China Enterprises Index Futures HKD 336,566,264 (733,352) — (733,352) 07/29/21 MLI Hang Seng China Enterprises Index Futures HKD 33,860,093 (72,311) — (72,311) §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-50 Brighthouse Funds Trust I AQR Global Risk Balanced Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) OTC Total Return Swaps—(Continued) Upfront Unrealized Maturity Underlying Reference Notional Market Premium Appreciation/ Date Counterparty Instrument Amount Value Paid/(Received) (Depreciation)(1) 07/29/21 GSI Hang Seng Index Futures HKD 13,044,551 $ (20,742) $— $ (20,742) 07/29/21 MLI Hang Seng Index Futures HKD 7,266,646 (14,057) — (14,057) 07/29/21 CBNA Heating Oil ULSD Futures USD 1,113,644 48,408 — 48,408 08/30/21 CBNA Heating Oil ULSD Futures USD 1,343,066 (725) — (725) 07/29/21 MLI Heating Oil ULSD Futures USD 5,935,272 232,541 — 232,541 08/30/21 MLI Heating Oil ULSD Futures USD 9,153,194 (25,276) — (25,276) 09/13/21 BOA Japanese Government 10 Year Bond Futures JPY 19,097,253,359 141,200 — 141,200 08/27/21 MLI KC Hard Red Winter Wheat Futures USD 5,170,513 68,538 — 68,538 09/09/21 MLI KOSPI 200 Index Futures KRW 15,478,274,700 187,020 — 187,020 08/06/21 MLI Live Cattle Futures USD 13,365,297 576,263 — 576,263 10/01/21 MLI Live Cattle Futures USD 3,600,450 — — — 08/11/21 CBNA Low Sulphur Gas Oil Futures USD 1,127,476 69,024 — 69,024 09/09/21 CBNA Low Sulphur Gas Oil Futures USD 1,084,770 (5,220) — (5,220) 08/11/21 MLI Low Sulphur Gas Oil Futures USD 7,915,250 460,250 — 460,250 09/09/21 MLI Low Sulphur Gas Oil Futures USD 12,636,750 (42,000) — (42,000) 08/27/21 CBNA Natural Gas Futures USD 387,680 10,960 — 10,960 08/27/21 MLI Natural Gas Futures USD 8,053,520 317,920 — 317,920 07/29/21 CBNA RBOB Gasoline Futures USD 1,412,344 94,146 — 94,146 08/30/21 CBNA RBOB Gasoline Futures USD 1,770,833 3,441 — 3,441 07/29/21 MLI RBOB Gasoline Futures USD 6,539,232 428,282 — 428,282 08/30/21 MLI RBOB Gasoline Futures USD 10,333,168 32,323 — 32,323 08/31/21 MLI Silver Futures USD 22,376,960 (1,421,760) — (1,421,760) 11/26/21 MLI Soy Meal Futures USD 15,516,280 (629,980) — (629,980) 10/22/21 MLI Soybean Futures USD 14,858,675 110,625 — 110,625 11/26/21 MLI Soybean Oil Futures USD 17,872,865 2,084,815 — 2,084,815 09/15/21 MLI Sugar Futures USD 23,082,937 941,186 — 941,186 09/17/21 MLI Swiss Market Index Futures CHF 26,486,715 114,602 — 114,602 07/21/21 GSI TAIEX Futures TWD 371,206,840 408,160 — 408,160 07/21/21 MLI TAIEX Futures TWD 20,627,481 22,500 — 22,500 09/21/21 BOA U.S. Treasury Note 10 Year Futures USD 1,230,956,745 6,328,255 — 6,328,255 09/28/21 BOA United Kingdom 10 Year Gilt Futures GBP 53,799,255 535,399 — 535,399 08/19/21 MLI WTI Crude Oil Futures USD 34,361,940 131,040 — 131,040 07/19/21 MLI WTI Crude Oil Futures USD 23,312,480 1,814,260 — 1,814,260 08/27/21 MLI Wheat Futures USD 11,133,894 (431,769) — (431,769) Totals ...... $18,143,714 $— $18,143,714

(1) There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

Glossary of Abbreviations

Counterparties (BOA)— Bank of America N.A.. (GSI)— Goldman Sachs International (MLI)— Merrill Lynch International (CBNA)— Citibank N.A.

Currencies (AUD)— Australian Dollar (EUR)— Euro (KRW)— South Korean Won (BRL)— Brazilian Real (GBP)— British Pound (TWD)— Taiwanese Dollar (CAD)— Canadian Dollar (HKD)— Hong Kong Dollar (USD)— United States Dollar (CHF)— Swiss Franc (JPY)— Japanese Yen (ZAR)— South African Rand

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-51 Brighthouse Funds Trust I AQR Global Risk Balanced Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $ — $ 746,302,680 $— $ 746,302,680 Total Foreign Government* ...... — 452,749,156 — 452,749,156 Short-Term Investments Mutual Funds ...... 1,010,101,534 — — 1,010,101,534 U.S. Treasury ...... — 671,387,997 — 671,387,997 Total Short-Term Investments ...... 1,010,101,534 671,387,997 — 1,681,489,531 Total Investments ...... $1,010,101,534 $1,870,439,833 $— $2,880,541,367 Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 15,086,303 $— $ 15,086,303 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (295,692) — (295,692) Total Forward Contracts ...... $ — $ 14,790,611 $— $ 14,790,611 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 26,825,334 $ — $— $ 26,825,334 Futures Contracts (Unrealized Depreciation) ...... (13,727,188) — — (13,727,188) Total Futures Contracts ...... $ 13,098,146 $ — $— $ 13,098,146 OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 22,702,404 $— $ 22,702,404 OTC Swap Contracts at Value (Liabilities) ...... — (4,558,690) — (4,558,690) Total OTC Swap Contracts ...... $ — $ 18,143,714 $— $ 18,143,714

* See Consolidated Schedule of Investments for additional detailed categorizations.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-52 Brighthouse Funds Trust I Brighthouse/Aberdeen Emerging Markets Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—90.2% of Net Assets

Security Description Shares Value Security Description Shares Value

Argentina—1.2% India—(Continued) MercadoLibre, Inc. (a) ...... 9,375 $ 14,604,281 UltraTech Cement, Ltd...... 173,077 $ 15,781,185 128,609,695 Austria—1.3% Mondi plc ...... 630,825 16,615,273 Indonesia—1.8% Bank Central Asia Tbk PT ...... 5,670,500 11,781,283 Brazil—6.0% Bank Rakyat Indonesia Persero Tbk PT (a) ...... 38,416,400 10,438,663 B3 S.A. - Brasil Bolsa Balcao ...... 1,956,000 6,614,645 Banco Bradesco S.A. (ADR) ...... 4,616,108 23,680,634 22,219,946 Rumo S.A. (a) ...... 1,555,910 5,990,526 Vale S.A. (ADR) ...... 1,456,778 33,229,106 Macau—1.3% WEG S.A...... 882,657 5,978,671 Sands China, Ltd. (a) ...... 3,912,000 16,476,342

75,493,582 Mexico—4.1% Fomento Economico Mexicano S.A.B. de C.V. (ADR) ...... 185,877 15,708,465 China—34.3% Grupo Aeroportuario del Sureste S.A.B. de C.V. - Class B (a) .... 359,605 6,620,780 Alibaba Group Holding, Ltd. (a) ...... 2,319,300 65,712,269 Grupo Financiero Banorte S.A.B. de C.V. - Class O (a) ...... 2,905,132 18,706,870 Budweiser Brewing Co. APAC, Ltd...... 3,785,900 11,916,444 Grupo Mexico S.A.B. de C.V...... 2,280,735 10,750,369 China Conch Venture Holdings, Ltd...... 1,796,000 7,564,095 China Merchants Bank Co., Ltd. - Class H ...... 2,677,500 22,846,951 51,786,484 China Resources Gas Group, Ltd...... 2,386,000 14,320,364 China Resources Land, Ltd...... 4,292,000 17,385,639 Netherlands—1.6% China Tourism Group Duty Free Corp., Ltd. - Class A ...... 348,695 16,202,964 ASML Holding NV ...... 28,767 19,806,120 GDS Holdings, Ltd. - Class A (a) ...... 250,400 2,462,616 Hangzhou Tigermed Consulting Co., Ltd. - Class A ...... 223,499 6,689,273 Philippines—0.5% Hangzhou Tigermed Consulting Co., Ltd. - Class H ...... 103,100 2,416,866 Bank of the Philippine Islands ...... 3,574,132 6,493,870 Kweichow Moutai Co., Ltd. - Class A ...... 28,272 9,002,937 Li Ning Co., Ltd...... 1,051,500 12,839,531 Poland—0.9% LONGi Green Energy Technology Co., Ltd. - Class A ...... 2,372,456 32,579,009 Allegro.eu S.A. (a) ...... 630,002 10,843,772 Meituan - Class B (a) ...... 440,000 18,172,691 Midea Group Co., Ltd. - Class A ...... 1,124,989 12,440,079 Russia—4.6% NARI Technology Co., Ltd. - Class A ...... 4,008,434 14,422,749 Lukoil PJSC (ADR) ...... 179,423 16,506,916 New Oriental Education & Technology Group, Inc. (a) (b) ...... 663,860 5,433,080 Novatek PJSC ...... 1,033,638 22,706,158 Ping An Insurance Group Co. of China, Ltd. - Class H ...... 1,026,500 10,021,656 Sberbank of Russia PJSC ...... 2,908,688 12,122,033 Prosus NV ...... 92,266 9,027,825 Yandex NV - Class A (a) ...... 94,344 6,674,838 Shanghai International Airport Co., Ltd. - Class A ...... 1,019,122 7,592,170 58,009,945 Shenzhou International Group Holdings, Ltd...... 828,900 20,936,366 Sungrow Power Supply Co., Ltd. - Class A ...... 647,108 11,529,440 South Africa—3.9% Tencent Holdings, Ltd...... 731,200 55,000,233 Anglo American Platinum, Ltd...... 125,956 14,555,475 Wuxi Biologics Cayman, Inc. (144A) (a) ...... 1,701,000 31,177,276 Naspers, Ltd. - N Shares ...... 164,254 34,505,429 Xinjiang Goldwind Science & Technology Co., Ltd. - Class H (b) . . . 2,522,600 3,944,253 Yunnan Energy New Material Co., Ltd. - Class A ...... 257,095 9,320,291 49,060,904 430,957,067 South Korea—3.6% LG Chem, Ltd...... 34,244 25,851,838 Hong Kong—2.9% SDI Co., Ltd...... 32,220 19,942,647 AIA Group, Ltd...... 1,534,400 19,070,567 Hong Kong Exchanges & Clearing, Ltd...... 285,290 17,005,037 45,794,485 36,075,604 Taiwan—11.9% Delta Electronics, Inc...... 940,000 10,205,996 India—10.3% Hon Hai Precision Industry Co., Ltd...... 3,047,000 12,248,147 Hindustan Unilever, Ltd...... 340,356 11,342,713 Sea, Ltd. (ADR) (a) ...... 33,024 9,068,390 Housing Development Finance Corp., Ltd...... 967,025 32,295,749 Taiwan Semiconductor Manufacturing Co., Ltd...... 5,490,000 117,238,224 ITC, Ltd...... 4,457,872 12,162,067 Kotak Mahindra Bank, Ltd. (a) ...... 606,515 13,922,427 148,760,757 SBI Life Insurance Co., Ltd...... 1,051,177 14,265,976 Total Common Stocks Tata Consultancy Services, Ltd...... 639,070 28,839,578 (Cost $821,125,597) ...... 1,131,608,127

See accompanying notes to financial statements. BHFTI-53 Brighthouse Funds Trust I Brighthouse/Aberdeen Emerging Markets Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Preferred Stock—8.6%

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

South Korea—8.6% Repurchase Agreements—(Continued) Samsung Electronics Co., Ltd. NBC Global Finance, Ltd. (Cost $55,090,860) ...... 1,647,408 $ 107,827,874 Repurchase Agreement dated 06/30/21 at 0.260%, due on 07/07/21 with a maturity value of $36,117; collateralized by U.S. Treasury Obligations with rates ranging from 2.125% - Short-Term Investment—1.4% 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, and various Common Stock with an aggregate market value of Repurchase Agreement—1.4% $40,135...... 36,115 $ 36,115 Fixed Income Clearing Corp. Repurchase Agreement dated 06/30/21 at 0.000%, due on 472,679 07/01/21 with a maturity value of $17,725,176; collateralized by U.S. Treasury Note at 0.375%, maturing Time Deposit—0.0% 04/15/24, with a market value of $18,079,763...... 17,725,176 17,725,176 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 8,535 8,535 Total Short-Term Investments (Cost $17,725,176) ...... 17,725,176 Mutual Funds—0.1% BlackRock Liquidity Funds FedFund, Institutional Shares Securities Lending Reinvestments (c)—0.1% 0.030% (d) ...... 200,000 200,000 Fidelity Government Portfolio, Institutional Class Repurchase Agreements—0.0% 0.010% (d) ...... 220,000 220,000 Barclays Bank plc Goldman Sachs Financial Square Government Fund, Institutional Repurchase Agreement dated 06/30/21 at 0.200%, due on Shares 07/01/21 with a maturity value of $100,001; collateralized 0.020% (d) ...... 220,000 220,000 by various Common Stock with an aggregate market value of Wells Fargo Government Money Market Fund, Select Class $111,120...... 100,000 100,000 0.030% (d) ...... 220,000 220,000 Barclays Capital, Inc. 860,000 Repurchase Agreement dated 06/30/21 at 0.030%, due on 07/01/21 with a maturity value of $249,260; collateralized Total Securities Lending Reinvestments by U.S. Treasury Obligations at 0.000%, maturity dates (Cost $1,341,214) ...... 1,341,214 ranging from 05/15/29 - 11/15/43, and an aggregate Total Investments—100.3% market value of $254,245...... 249,260 249,260 (Cost $895,282,847) ...... 1,258,502,391 Deutsche Bank AG, London Other assets and liabilities (net)—(0.3)% ...... (3,779,234) Repurchase Agreement dated 06/30/21 at 0.170%, due on Net Assets—100.0% ...... $1,254,723,157 07/01/21 with a maturity value of $8,374; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.000% - 3.375%, maturity dates ranging from 02/01/22 - * Principal amount stated in U.S. dollars unless otherwise noted. 03/11/31, and an aggregate market value of $8,541. .... 8,374 8,374 (a) Non-income producing security. HSBC Bank plc (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Repurchase Agreement dated 06/30/21 at 0.100%, due on of securities loaned was $2,089,364 and the collateral received consisted of cash in the 07/01/21 with a maturity value of $48,734; collateralized by amount of $1,341,214 and non-cash collateral with a value of $881,797. The cash U.S. Treasury Obligations with rates ranging from 0.099% - collateral investments are disclosed in the Schedule of Investments and categorized as 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, Securities Lending Reinvestments. The non-cash collateral received consists of U.S. and an aggregate market value of $49,729...... 48,734 48,734 government securities that are held in safe-keeping by the lending agent, or a third- NBC Global Finance, Ltd. party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral Repurchase Agreement dated 06/30/21 at 0.245%, due on is excluded from the Statement of Assets and Liabilities. 07/07/21 with a maturity value of $30,197; collateralized by (c) Represents investment of cash collateral received from securities on loan as of June 30, U.S. Treasury Obligations with rates ranging from 1.875% - 2021. 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, (d) The rate shown represents the annualized seven-day yield as of June 30, 2021. and various Common Stock with an aggregate market value of (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. $33,551...... 30,196 30,196 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $31,177,276, which is 2.5% of net assets.

See accompanying notes to financial statements. BHFTI-54 Brighthouse Funds Trust I Brighthouse/Aberdeen Emerging Markets Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Ten Largest Industries as of %of June 30, 2021 (Unaudited) Net Assets Semiconductors & Semiconductor Equipment ...... 13.5 Internet & Direct Marketing Retail ...... 12.2 Banks ...... 9.6 Technology Hardware, Storage & Peripherals ...... 8.6 Interactive Media & Services ...... 4.9 Oil, Gas & Consumable Fuels ...... 4.0 Beverages ...... 3.9 Metals & Mining ...... 3.8 Insurance ...... 3.4 Life Sciences Tools & Services ...... 3.2

Glossary of Abbreviations

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-55 Brighthouse Funds Trust I Brighthouse/Aberdeen Emerging Markets Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Argentina ...... $ 14,604,281 $ — $— $ 14,604,281 Austria ...... — 16,615,273 — 16,615,273 Brazil ...... 75,493,582 — — 75,493,582 China ...... — 430,957,067 — 430,957,067 Hong Kong ...... — 36,075,604 — 36,075,604 India ...... — 128,609,695 — 128,609,695 Indonesia ...... — 22,219,946 — 22,219,946 Macau ...... — 16,476,342 — 16,476,342 Mexico ...... 51,786,484 — — 51,786,484 Netherlands ...... — 19,806,120 — 19,806,120 Philippines ...... — 6,493,870 — 6,493,870 Poland ...... — 10,843,772 — 10,843,772 Russia ...... 23,181,754 34,828,191 — 58,009,945 South Africa ...... — 49,060,904 — 49,060,904 South Korea ...... — 45,794,485 — 45,794,485 Taiwan ...... 9,068,390 139,692,367 — 148,760,757 Total Common Stocks ...... 174,134,491 957,473,636 — 1,131,608,127 Total Preferred Stock* ...... — 107,827,874 — 107,827,874 Total Short-Term Investment* ...... — 17,725,176 — 17,725,176 Securities Lending Reinvestments Repurchase Agreements ...... — 472,679 — 472,679 Time Deposit ...... — 8,535 — 8,535 Mutual Funds ...... 860,000 — — 860,000 Total Securities Lending Reinvestments ...... 860,000 481,214 — 1,341,214 Total Investments ...... $174,994,491 $1,083,507,900 $— $1,258,502,391 Collateral for Securities Loaned (Liability) ...... $ — $ (1,341,214) $— $ (1,341,214)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-56 Brighthouse Funds Trust I Brighthouse/Artisan International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—94.6% of Net Assets

Security Description Shares Value Security Description Shares Value

Argentina—0.4% Italy—1.3% MercadoLibre, Inc. (a) ...... 3,109 $ 4,843,169 Intesa Sanpaolo S.p.A...... 5,663,535 $ 15,631,669

Belgium—1.9% Japan—2.9% UCB S.A...... 229,858 24,032,579 Hoya Corp...... 127,375 16,882,135 Sony Corp...... 202,800 19,682,364 Canada—2.3% 36,564,499 Canadian Pacific Railway, Ltd...... 263,200 20,238,967 Kinaxis, Inc. (a) ...... 62,200 8,182,441 Netherlands—6.4% 28,421,408 Argenx SE (a) ...... 866 260,890 Argenx SE (ADR) (a) ...... 64,035 19,279,017 China—2.4% ING Groep NV ...... 1,765,784 23,360,730 China International Capital Corp., Ltd. - Class H ...... 3,854,000 10,374,578 Koninklijke DSM NV (b) ...... 198,240 37,009,478 Gree Electric Appliances, Inc. - Class A ...... 982,604 7,925,276 79,910,115 Midea Group Co., Ltd. - Class A ...... 1,025,069 11,335,168 29,635,022 Portugal—1.1% EDP - Energias de Portugal S.A...... 2,587,416 13,724,784 Denmark—5.1% Ascendis Pharma A/S (ADR) (a) (b) ...... 118,562 15,596,831 Russia—1.6% DSV Panalpina A/S ...... 70,134 16,352,132 MMC Norilsk Nickel PJSC (ADR) ...... 578,980 19,736,599 Genmab A/S (a) ...... 77,627 31,662,655 63,611,618 South Korea—2.1% Samsung Electronics Co., Ltd...... 362,575 25,987,688 France—6.8% Air Liquide S.A...... 162,147 28,412,059 Spain—0.7% BNP Paribas S.A...... 581,049 36,387,667 Ferrovial S.A...... 297,023 8,719,251 Capgemini SE ...... 102,411 19,692,705 Sweden—1.0% 84,492,431 Sandvik AB ...... 512,944 13,104,776

Germany—19.1% Switzerland—10.1% Allianz SE ...... 120,856 30,133,760 Adecco Group AG ...... 167,247 11,367,697 Auto1 Group SE (144A) (a) ...... 70,805 3,110,552 Holcim, Ltd...... 287,506 17,249,355 Bayerische Motoren Werke AG ...... 85,562 9,064,059 Idorsia, Ltd. (144A) (a) ...... 306,082 8,417,752 Brenntag SE ...... 179,559 16,698,972 Lonza Group AG ...... 19,787 14,026,860 Deutsche Boerse AG ...... 243,748 42,546,535 Medacta Group S.A. (a) ...... 65,670 8,619,405 Deutsche Post AG ...... 335,299 22,814,062 Nestle S.A...... 191,715 23,875,295 Deutsche Telekom AG ...... 1,663,655 35,171,196 Roche Holding AG ...... 113,889 42,921,416 MTU Aero Engines AG ...... 67,527 16,731,170 Porsche Automobil Holding SE ...... 86,477 9,266,396 126,477,780 Siemens AG ...... 167,516 26,542,896 Volkswagen AG ...... 105,269 26,398,888 Taiwan—1.9% Taiwan Semiconductor Manufacturing Co., Ltd...... 1,112,000 23,746,613 238,478,486 United Kingdom—9.3% Hong Kong—3.7% AVEVA Group plc ...... 360,049 18,488,906 AIA Group, Ltd...... 3,663,572 45,533,364 Barclays plc ...... 10,503,329 24,911,032 HSBC Holdings plc ...... 1,907,200 10,990,967 India—1.1% International Consolidated Airlines Group S.A. (a) ...... 6,081,619 14,694,418 Reliance Industries, Ltd...... 499,230 14,206,385 Linde plc (a) ...... 161,610 46,695,191 115,780,514 Ireland—1.9% CRHplc...... 457,421 23,208,451 United States—8.3% Israel—3.2% Accenture plc - Class A ...... 37,609 11,086,757 Nice, Ltd. (ADR) (a) (b) ...... 159,636 39,503,524 Alphabet, Inc. - Class A (a) ...... 10,431 25,470,312 Alphabet, Inc. - Class C (a) ...... 4,726 11,844,868 Amazon.com, Inc. (a) ...... 10,125 34,831,620

See accompanying notes to financial statements. BHFTI-57 Brighthouse Funds Trust I Brighthouse/Artisan International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

United States—(Continued) Repurchase Agreements—(Continued) Aon plc - Class A ...... 82,799 $ 19,769,089 HSBC Bank plc 103,002,646 Repurchase Agreement dated 06/30/21 at 0.100%, due on 07/01/21 with a maturity value of $200,001; collateralized Total Common Stocks by U.S. Treasury Obligations with rates ranging from (Cost $917,809,862) ...... 1,178,353,371 0.099% - 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value Equity Linked Security—2.7% of $204,082...... 200,000 $ 200,000 3,132,924 United Kingdom—2.7% Ryanair Holdings plc (HSBC Bank plc), Expires 10/29/21 (a) (c) Time Deposit—0.0% (Cost $28,111,466) ...... 1,779,545 33,677,128 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 74,524 74,524 Preferred Stock—0.6% Mutual Funds—0.6% Brazil—0.6% BlackRock Liquidity Funds FedFund, Institutional Shares Azul S.A. (a) 0.030% (e) ...... 2,000,000 2,000,000 (Cost $6,193,883) ...... 855,300 7,547,372 Goldman Sachs Financial Square Government Fund, Institutional Shares 0.020% (e) ...... 2,000,000 2,000,000 Short-Term Investment—1.8% Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares Repurchase Agreement—1.8% 0.030% (e) ...... 2,000,000 2,000,000 Fixed Income Clearing Corp. Wells Fargo Government Money Market Fund, Select Class Repurchase Agreement dated 06/30/21 at 0.000%, due on 0.030% (e) ...... 2,000,000 2,000,000 07/01/21 with a maturity value of $22,997,111; collateralized by U.S. Treasury Note at 0.125%, maturing 8,000,000 04/15/25, with a market value of $23,457,117...... 22,997,111 22,997,111 Total Securities Lending Reinvestments Total Short-Term Investments (Cost $12,307,449) ...... 12,307,447 (Cost $22,997,111) ...... 22,997,111 Total Investments—100.7% (Cost $987,419,771) ...... 1,254,882,429 Securities Lending Reinvestments (d)—1.0% Other assets and liabilities (net)—(0.7)% ...... (9,106,885) Net Assets—100.0% ...... $1,245,775,544 Certificate of Deposit—0.1% Agricultural Bank of China 0.100%, 07/01/21 ...... 1,100,000 1,099,999 * Principal amount stated in U.S. dollars unless otherwise noted. (a) Non-income producing security. Repurchase Agreements—0.3% (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Barclays Capital, Inc. of securities loaned was $12,386,089 and the collateral received consisted of cash in Repurchase Agreement dated 06/30/21 at 0.030%, due on the amount of $12,307,448. The cash collateral investments are disclosed in the 07/01/21 with a maturity value of $2,707,641; Schedule of Investments and categorized as Securities Lending Reinvestments. collateralized by U.S. Treasury Obligations at 0.000%, (c) Security whose performance, including redemption at maturity, is linked to the price of maturity dates ranging from 05/15/29 - 11/15/43, and an the underlying equity security. The investment is subject to credit risk of the issuing aggregate market value of $2,761,791...... 2,707,638 2,707,638 financial institution (HSBC Bank plc) in addition to the market risk of the underlying BofA Securities, Inc. security. Repurchase Agreement dated 06/30/21 at 0.050%, due on (d) Represents investment of cash collateral received from securities on loan as of June 30, 07/01/21 with a maturity value of $190,138; collateralized 2021. by U.S. Treasury Bond at 2.875%, maturing 05/15/49, and (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. an aggregate market value of $193,941...... 190,138 190,138 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Deutsche Bank AG, London These securities may be resold in transactions exempt from registration, normally to Repurchase Agreement dated 06/30/21 at 0.170%, due on qualified institutional buyers. As of June 30, 2021, the market value of 144A securities 07/01/21 with a maturity value of $35,148; collateralized by was $11,528,304, which is 0.9% of net assets. U.S. Treasury and Foreign Obligations with rates ranging from 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 03/11/31, and an aggregate market value of $35,851...... 35,148 35,148

See accompanying notes to financial statements. BHFTI-58 Brighthouse Funds Trust I Brighthouse/Artisan International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Ten Largest Industries as of %of June 30, 2021 (Unaudited) Net Assets Chemicals ...... 9.0 Insurance ...... 7.7 Beverages ...... 7.7 Banks ...... 6.1 Biotechnology ...... 6.0 Pharmaceuticals ...... 5.4 Software ...... 5.3 Capital Markets ...... 4.2 Airlines ...... 3.3 Construction Materials ...... 3.2

Glossary of Abbreviations

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-59 Brighthouse Funds Trust I Brighthouse/Artisan International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Argentina ...... $ 4,843,169 $ — $— $ 4,843,169 Belgium ...... — 24,032,579 — 24,032,579 Canada ...... 28,421,408 — — 28,421,408 China ...... — 29,635,022 — 29,635,022 Denmark ...... 15,596,831 48,014,787 — 63,611,618 France ...... — 84,492,431 — 84,492,431 Germany ...... — 238,478,486 — 238,478,486 Hong Kong ...... — 45,533,364 — 45,533,364 India ...... — 14,206,385 — 14,206,385 Ireland ...... — 23,208,451 — 23,208,451 Israel ...... 39,503,524 — — 39,503,524 Italy ...... — 15,631,669 — 15,631,669 Japan ...... — 36,564,499 — 36,564,499 Netherlands ...... 19,279,017 60,631,098 — 79,910,115 Portugal ...... — 13,724,784 — 13,724,784 Russia ...... — 19,736,599 — 19,736,599 South Korea ...... — 25,987,688 — 25,987,688 Spain ...... — 8,719,251 — 8,719,251 Sweden ...... — 13,104,776 — 13,104,776 Switzerland ...... — 126,477,780 — 126,477,780 Taiwan ...... — 23,746,613 — 23,746,613 United Kingdom ...... — 115,780,514 — 115,780,514 United States ...... 103,002,646 — — 103,002,646 Total Common Stocks ...... 210,646,595 967,706,776 — 1,178,353,371 Total Equity Linked Security* ...... — 33,677,128 — 33,677,128 Total Preferred Stock* ...... 7,547,372 — — 7,547,372 Total Short-Term Investment* ...... — 22,997,111 — 22,997,111 Securities Lending Reinvestments Certificate of Deposit ...... — 1,099,999 — 1,099,999 Repurchase Agreements ...... — 3,132,924 — 3,132,924 Time Deposit ...... — 74,524 — 74,524 Mutual Funds ...... 8,000,000 — — 8,000,000 Total Securities Lending Reinvestments ...... 8,000,000 4,307,447 — 12,307,447 Total Investments ...... $226,193,967 $1,028,688,462 $— $1,254,882,429 Collateral for Securities Loaned (Liability) ...... $ — $ (12,307,448) $— $ (12,307,448)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-60 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—94.5% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Advertising—0.5% Auto Parts & Equipment—(Continued) Outfront Media Capital LLC Garrett LX I S.a r.l. Term Loan B, 1.841%, 1M LIBOR + 1.750%, 11/18/26 ..... 925,000 $ 911,703 USD Term Loan B, 3.750%, 3M LIBOR + 3.250%, 04/30/28 . . 675,000 $ 678,797 Red Ventures, LLC Goodyear Tire & Rubber Co. (The) Term Loan B2, 2.604%, 1M LIBOR + 2.500%, 11/08/24 .... 264,247 261,133 2nd Lien Term Loan, 2.090%, 1M LIBOR + Terrier Media Buyer, Inc. 2.000%, 03/07/25 ...... 2,433,333 2,412,042 Term Loan, 3.604%, 1M LIBOR + 3.500%, 12/17/26 ...... 1,576,080 1,570,608 Tenneco, Inc. Vestcom Parent Holdings, Inc. Term Loan B, 3.104%, 1M LIBOR + 3.000%, 10/01/25 ..... 3,241,875 3,216,750 1st Lien Term Loan, 5.000%, 1M LIBOR + 4.000%, 12/19/23 . . . 1,168,122 1,169,582 TI Group Automotive Systems, LLC 3,913,026 USD Term Loan, 3.750%, 3M LIBOR + 3.250%, 12/16/26 . . . 648,375 651,617 Truck Hero, Inc. Aerospace/Defense—1.7% Term Loan B, 4.500%, 1M LIBOR + 3.750%, 01/31/28 ..... 1,097,250 1,098,774 AI Convoy (Luxembourg) S.a.r.l. Wheel Pros, LLC Term Loan B, 4.500%, 6M LIBOR + 3.500%, 01/17/27 ..... 617,188 617,573 Term Loan, 5.250%, 1M LIBOR + 4.500%, 04/23/28 ...... 775,000 777,853 Dynasty Acquisition Co., Inc. 20,527,547 Term Loan B1, 3.647%, 3M LIBOR + 3.500%, 04/06/26 .... 2,251,128 2,194,381 Term Loan B2, 3.647%, 3M LIBOR + 3.500%, 04/06/26 .... 1,210,379 1,179,868 Beverages—0.4% Spirit Aerosystems, Inc. Arterra Wines Canada, Inc. Term Loan B, 6.000%, 1M LIBOR + 5.250%, 01/15/25 ..... 398,000 401,731 Term Loan, 4.250%, 3M LIBOR + 3.500%, 11/24/27 ...... 920,375 923,395 TransDigm, Inc. City Brewing Co. LLC Term Loan F, 2.354%, 1M LIBOR + 2.250%, 12/09/25 ..... 4,853,925 4,787,518 Closing Date Term Loan, 4.250%, 3M LIBOR + Term Loan G, 2.354%, 1M LIBOR + 2.250%, 08/22/24 ..... 1,646,443 1,628,349 3.500%, 04/05/28 ...... 800,000 804,000 WP CPP Holdings LLC Triton Water Holdings, Inc. Term Loan, 4.750%, 3M LIBOR + 3.750%, 04/30/25 ...... 2,610,504 2,559,383 Term Loan, 4.000%, 3M LIBOR + 3.500%, 03/31/28 ...... 1,300,000 1,300,697 13,368,803 3,028,092

Airlines—0.5% Building Materials—1.8% AAdvantage Loyalty, IP Ltd. ACProducts, Inc. Term Loan, 5.500%, 3M LIBOR + 4.750%, 04/20/28 ...... 1,000,000 1,043,750 Term Loan B, 4.750%, 6M LIBOR + 4.250%, 05/05/28 ..... 1,875,000 1,868,554 Mileage Plus Holdings LLC Cornerstone Building Brands, Inc. Term Loan B, 6.250%, 3M LIBOR + 5.250%, 06/21/27 ..... 725,000 774,900 Term Loan B, 3.750%, 1M LIBOR + 3.250%, 04/12/28 ..... 798,000 798,998 SkyMiles IP, Ltd. CP Atlas Buyer, Inc. Term Loan B, 4.750%, 3M LIBOR + 3.750%, 10/20/27 ..... 1,900,000 2,009,013 Term Loan B, 4.250%, 1M LIBOR + 3.750%, 11/23/27 ..... 1,072,313 1,070,972 3,827,663 CPG International, Inc. Term Loan, 3.250%, 3M LIBOR + 2.500%, 05/05/24 ...... 1,091,837 1,092,033 Auto Manufacturers—0.1% Ingersoll-Rand Services Co. American Trailer World Corp. Term Loan B, 1.854%, 1M LIBOR + 1.750%, 03/01/27 ..... 1,209,688 1,197,698 Term Loan B, 4.500%, 1M LIBOR + 3.750%, 03/03/28 ..... 550,000 549,886 MI Windows and Doors, LLC Term Loan, 4.500%, 1M LIBOR + 3.750%, 12/18/27 ...... 422,875 424,549 Auto Parts & Equipment—2.6% Quikrete Holdings, Inc. Adient U.S. LLC 1st Lien Term Loan, 2.604%, 1M LIBOR + 2.500%, 02/01/27 . . . 4,246,378 4,212,139 Term Loan B, 3.604%, 1M LIBOR + 3.500%, 04/08/28 ..... 900,000 902,343 Term Loan B1, 05/12/28 (b) ...... 2,300,000 2,284,762 American Axle & Manufacturing, Inc. Summit Materials Cos. I LLC Term Loan B, 3.000%, 1M LIBOR + 2.250%, 04/06/24 ..... 1,568,426 1,567,338 Term Loan B, 2.104%, 1M LIBOR + 2.000%, 11/21/24 ..... 1,544,000 1,541,466 Autokiniton US Holdings, Inc. U.S. Concrete, Inc. Term Loan B, 5.000%, 3M LIBOR + 4.500%, 04/06/28 ..... 1,175,000 1,184,547 Term Loan B, 05/26/28 (b) ...... 375,000 375,469 Clarios Global L.P. 14,866,640 USD Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/30/26 . . 3,793,631 3,766,761 CS Intermediate Holdco 2 LLC Chemicals—3.7% Term Loan B, 2.750%, 1M LIBOR + 2.000%, 11/02/23 ..... 1,251,240 1,225,277 Aruba Investments, Inc. Dayco Products LLC USD Term Loan, 4.750%, 3M LIBOR + 4.000%, 11/24/27 . . . 673,313 676,679 Term Loan B, 4.385%, 3M LIBOR + 4.250%, 05/19/23 ..... 960,000 919,200 Atotech B.V. Delachaux S.A. USD Term Loan B, 3.000%, 3M LIBOR + 2.500%, 03/18/28 . . 950,000 946,289 Term Loan B, 4.686%, 3M LIBOR + 4.500%, 04/16/26 ..... 392,000 391,020 Axalta Coating Systems U.S. Holdings, Inc. DexKo Global, Inc. Term Loan B2, 1.897%, 3M LIBOR + 1.750%, 06/01/24 .... 2,805,178 2,790,400 Term Loan, 4.500%, 1M LIBOR + 3.500%, 07/24/24 ...... 1,732,522 1,735,228

See accompanying notes to financial statements. BHFTI-61 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Chemicals—(Continued) Commercial Services—7.2% CPC Acquisition Corp. Adtalem Global Education, Inc. Term Loan, 3.897%, 3M LIBOR + 3.750%, 12/29/27 ...... 698,250 $ 698,686 Term Loan B, 3.104%, 1M LIBOR + 3.000%, 04/11/25 ..... 363,750 $ 362,234 Element Solutions, Inc. AlixPartners LLP Term Loan B1, 2.104%, 1M LIBOR + 2.000%, 01/31/26 .... 585,079 585,079 USD Term Loan B, 3.250%, 1M LIBOR + 2.750%, 02/04/28 . . 1,421,438 1,416,898 Emerald Performance Materials LLC Allied Universal Holdco LLC Term Loan B, 5.000%, 1M LIBOR + 4.000%, 08/12/25 ..... 340,571 342,018 USD Incremental Term Loan B, 4.250%, 1M LIBOR + Ferro Corp. 3.750%, 05/12/28 ...... 2,839,063 2,851,001 Term Loan B1, 2.397%, 3M LIBOR + 2.250%, 02/14/24 .... 173,057 172,887 Amentum Government Services Holdings LLC Term Loan B2, 2.397%, 3M LIBOR + 2.250%, 02/14/24 .... 138,035 137,899 Term Loan B, 3.604%, 1M LIBOR + 3.500%, 01/29/27 ..... 866,250 865,167 Term Loan B3, 2.397%, 3M LIBOR + 2.250%, 02/14/24 .... 135,098 134,965 American Residential Services LLC Flint Group GmbH Term Loan B, 4.250%, 3M LIBOR + 3.500%, 10/15/27 ..... 547,250 547,592 Term Loan C, 5.250%, 3M LIBOR + 4.250%, 09/21/23 ..... 133,194 133,028 APi Group DE, Inc. Flint Group U.S. LLC Term Loan B, 2.604%, 1M LIBOR + 2.500%, 10/01/26 ..... 1,235,000 1,234,383 1st Lien Term Loan B2, 5.250%, 3M LIBOR + Belron Finance U.S. LLC 4.250%, 09/21/23 ...... 805,714 804,711 USD Term Loan B, 3.250%, 3M LIBOR + 2.750%, 04/13/28 . . 872,813 870,994 HB Fuller Co. Cambium Learning Group, Inc. Term Loan B, 2.093%, 1M LIBOR + 2.000%, 10/20/24 ..... 628,300 629,164 Term Loan B, 5.250%, 3M LIBOR + 4.500%, 12/18/25 ..... 1,228,648 1,237,735 Hexion, Inc. CCRR Parent, Inc Exit Term Loan, 3.710%, 3M LIBOR + 3.500%, 07/01/26 .... 1,641,500 1,644,236 Term Loan B, 5.000%, 3M LIBOR + 4.250%, 03/06/28 ..... 448,875 452,102 Illuminate Buyer LLC CHG Healthcare Services, Inc. Term Loan, 3.604%, 1M LIBOR + 3.500%, 06/30/27 ...... 746,255 742,679 1st Lien Term Loan B, 4.000%, 3M LIBOR + INEOS Enterprises Holdings U.S. Finco LLC 3.000%, 06/07/23 ...... 3,022,619 3,023,375 Term Loan B, 4.500%, 3M LIBOR + 3.500%, 08/28/26 ..... 181,671 182,390 CoreLogic, Inc. INEOS Styrolution U.S. Holding LLC Term Loan, 4.000%, 1M LIBOR + 3.500%, 06/02/28 ...... 5,300,000 5,297,514 USD Term Loan B, 3.250%, 1M LIBOR + 2.750%, 01/29/26 . . 2,300,000 2,298,204 Electro Rent Corp. INEOS U.S. Finance LLC 1st Lien Term Loan, 6.000%, 3M LIBOR + 5.000%, 01/31/24 . . . 1,515,201 1,526,565 Term Loan B, 2.104%, 1M LIBOR + 2.000%, 04/01/24 ..... 3,015,625 2,993,949 Ensemble RCM, LLC LSF11 Skyscraper Holdco S.a r.l. Term Loan, 3.936%, 3M LIBOR + 3.750%, 08/03/26 ...... 2,257,885 2,261,648 USD Term Loan B, 4.250%, 3M LIBOR + 3.500%, 09/29/27 . . 1,973,188 1,980,587 Garda World Security Corp. Messer Industries GmbH Term Loan B, 4.350%, 1M LIBOR + 4.250%, 10/30/26 ..... 2,303,894 2,317,266 Term Loan, 2.647%, 3M LIBOR + 2.500%, 03/01/26 ...... 1,709,766 1,700,149 Hertz Corp. (The) Minerals Technologies, Inc. DIP Delayed Draw Term Loan, 8.250%, 1M LIBOR + Term Loan B, 3.000%, 1M LIBOR + 2.250%, 02/14/24 ..... 746,474 749,274 7.250%, 12/31/21 (c) ...... 817,499 821,842 Orion Engineered Carbons GmbH Term Loan B, 06/14/28 (b) ...... 1,114,887 1,114,887 Term Loan B, 2.147%, 3M LIBOR + 2.000%, 07/25/24 ..... 443,047 441,386 Term Loan B, 3.500%, 1M LIBOR + 2.750%, 06/30/23 ..... 555,507 559,534 PQ Corp. Term Loan C, 06/14/28 (b) ...... 210,113 210,113 Term Loan B, 2.436%, 3M LIBOR + 2.250%, 02/07/27 ..... 506,367 506,051 IRI Holdings, Inc. Term Loan B, 3.250%, 3M LIBOR + 2.750%, 05/26/28 ..... 2,310,000 2,310,000 1st Lien Term Loan, 4.354%, 1M LIBOR + 4.250%, 12/01/25 . . . 4,461,047 4,468,015 Starfruit Finco B.V. KUEHG Corp. Term Loan B, 3.133%, 1M LIBOR + 2.750%, 10/01/25 ..... 2,883,032 2,865,013 Incremental Term Loan, 4.750%, 3M LIBOR + Trinseo Materials Operating S.C.A. 3.750%, 02/21/25 ...... 1,396,815 1,378,191 Term Loan B2, 2.604%, 1M LIBOR + 2.500%, 05/03/28 .... 900,000 894,656 LSC Communications, Inc. Tronox Finance LLC Term Loan B, 09/30/22 (d) ...... 637,426 24,700 Term Loan B, 2.630%, 3M LIBOR + 2.500%, 03/13/28 ..... 1,858,500 1,849,642 Monitronics International, Inc. Venator Materials Corp. Term Loan, 7.750%, 1M LIBOR + 6.500%, 03/29/24 ...... 1,285,218 1,254,158 Term Loan B, 3.104%, 1M LIBOR + 3.000%, 08/08/24 ..... 818,125 813,523 MPH Acquisition Holdings LLC 30,023,544 Term Loan B, 3.750%, 3M LIBOR + 2.750%, 06/07/23 ..... 2,092,535 2,088,902 Nielsen Consumer, Inc. Coal—0.1% USDTermLoanB,4.080%,1MLIBOR+4.000%,03/06/28.... 673,313 675,417 American Consolidated Natural Resources, Inc. Parexel International Corp. Exit Term Loan, 14.000%, 3M LIBOR + 13.000%, 09/16/25 . . 455,826 459,245 Term Loan B, 2.845%, 1M LIBOR + 2.750%, 09/27/24 ..... 1,633,491 1,625,833 Oxbow Carbon LLC Prime Security Services Borrower LLC Term Loan B, 4.345%, 1M LIBOR + 4.250%, 10/13/25 ..... 312,813 313,595 Term Loan, 3.500%, 3M LIBOR + 2.750%, 09/23/26 ...... 2,301,625 2,301,864 PSC Industrial Holdings Corp. 772,840 1st Lien Term Loan, 4.750%, 1M LIBOR + 3.750%, 10/11/24 . . . 1,616,375 1,604,926

See accompanying notes to financial statements. BHFTI-62 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Commercial Services—(Continued) Cosmetics/Personal Care—0.6% RDV Resources Properties, LLC Conair Holdings LLC Exit Term Loan, 9.500%, 1M LIBOR + 8.500%, 03/29/24 .... 367,282 $ 189,150 Term Loan B, 4.250%, 3M LIBOR + 3.750%, 05/17/28 ..... 1,600,000 $ 1,605,400 Sabre GLBL, Inc. Journey Personal Care Corp. Term Loan B, 2.104%, 1M LIBOR + 2.000%, 02/22/24 ..... 898,618 886,262 Term Loan B, 5.000%, 3M LIBOR + 4.250%, 03/01/28 ..... 1,075,000 1,078,696 Term Loan B, 4.750%, 1M LIBOR + 4.000%, 12/17/27 ..... 373,125 376,273 Sunshine Luxembourg ViII S.a.r.l Sotheby’s Term Loan B3, 4.500%, 3M LIBOR + 3.750%, 10/01/26 .... 1,945,125 1,953,646 Term Loan B, 5.500%, 3M LIBOR + 4.750%, 01/15/27 ..... 541,279 545,565 4,637,742 Spin Holdco, Inc. Term Loan, 4.750%, 3M LIBOR + 4.000%, 03/01/28 ...... 4,039,875 4,047,450 Distribution/Wholesale—0.8% Syniverse Holdings, Inc. American Builders & Contractors Supply Co., Inc. 1st Lien Term Loan, 6.000%, 3M LIBOR + 5.000%, 03/09/23 . . . 919,125 912,040 Term Loan, 2.104%, 1M LIBOR + 2.000%, 01/15/27 ...... 5,723,063 5,688,592 Team Health Holdings, Inc. KAR Auction Services, Inc. 1st Lien Term Loan, 3.750%, 1M LIBOR + 2.750%, 02/06/24 . . . 1,867,125 1,817,112 Term Loan B6, 2.375%, 1M LIBOR + 2.250%, 09/19/26 .... 540,375 535,647 Teneo Holdings LLC Protective Industrial Products, Inc. Term Loan, 6.250%, 1M LIBOR + 5.250%, 07/11/25 ...... 300,000 296,531 Term Loan, 4.750%, 1M LIBOR + 4.000%, 01/20/28 ...... 500,000 501,094 Trans Union LLC Term Loan B5, 1.854%, 1M LIBOR + 1.750%, 11/16/26 .... 2,023,363 2,012,297 6,725,333 TruGreen L.P. Term Loan, 4.750%, 1M LIBOR + 4.000%, 11/02/27 ...... 547,250 551,440 Diversified Financial Services—5.0% TTF Holdings, LLC Advisor Group, Inc. Term Loan, 5.000%, 3M LIBOR + 4.250%, 03/24/28 ...... 450,000 450,563 Term Loan, 4.604%, 1M LIBOR + 4.500%, 07/31/26 ...... 1,478,734 1,483,860 Verscend Holding Corp. Aretec Group, Inc. Term Loan B, 4.104%, 1M LIBOR + 4.000%, 08/27/25 ..... 2,064,368 2,072,971 Term Loan, 4.354%, 1M LIBOR + 4.250%, 10/01/25 ...... 3,644,490 3,647,526 Victory Capital Holdings, Inc. Astra Acquisition Corp. Term Loan B, 2.444%, 3M LIBOR + 2.250%, 07/01/26 ..... 821,157 816,709 Term Loan B1, 5.500%, 1M LIBOR + 4.750%, 03/01/27 .... 767,265 768,224 Wex. Inc. Avolon TLB Borrower 1 (U.S.) LLC Term Loan, 2.354%, 1M LIBOR + 2.250%, 03/31/28 ...... 448,875 446,420 Term Loan B3, 2.500%, 1M LIBOR + 1.750%, 01/15/25 .... 2,062,580 2,059,542 Term Loan B5, 3.250%, 1M LIBOR + 2.500%, 12/01/27 .... 1,691,500 1,693,719 57,813,639 Citco Funding LLC Term Loan, 2.703%, 3M LIBOR + 2.500%, 09/28/23 ...... 2,940,678 2,941,596 Computers—2.1% Clipper Acquisitions Corp. Imprivata, Inc. Term Loan B, 1.836%, 1M LIBOR + 1.750%, 03/03/28 ..... 1,088,522 1,078,997 Term Loan, 4.250%, 1M LIBOR + 3.750%, 12/01/27 ...... 1,072,313 1,075,440 Deerfield Dakota Holding LLC Magenta Buyer LLC Term Loan B, 4.750%, 1M LIBOR + 3.750%, 04/09/27 ..... 1,881,000 1,892,130 USD 1st Lien Term Loan, 05/03/28 (b) ...... 4,050,000 4,054,338 Delos Finance S.a.r.l. USD 2nd Lien Term Loan, 05/03/29 (b) ...... 1,075,000 1,066,938 Term Loan B, 1.897%, 3M LIBOR + 1.750%, 10/06/23 ..... 1,872,500 1,873,232 NCR Corp. Ditech Holding Corp. Term Loan, 2.690%, 3M LIBOR + 2.500%, 08/28/26 ...... 1,392,938 1,383,361 Term Loan, 06/30/22 (d) ...... 1,824,660 371,774 Panther Commercial Holdings L.P. Edelman Financial Center LLC Term Loan, 5.000%, 1M LIBOR + 4.500%, 01/07/28 ...... 600,000 601,875 Term Loan B, 04/07/28 (b) ...... 1,750,000 1,753,645 Redstone Buyer LLC Fiserv Investment Solutions, Inc. Delayed Draw Term Loan, 04/27/28 (c) ...... 675,097 675,519 Term Loan B, 4.155%, 3M LIBOR + 4.000%, 02/18/27 ..... 495,000 496,856 Term Loan, 5.500%, 3M LIBOR + 4.750%, 04/27/28 ...... 1,724,903 1,725,981 Focus Financial Partners LLC Tempo Acquisition LLC Delayed Draw Term Loan, 06/24/28 (b) ...... 1,025,001 1,022,865 Extended Term Loan, 3.750%, 1M LIBOR + Term Loan, 2.104%, 1M LIBOR + 2.000%, 07/03/24 ...... 3,474,948 3,445,084 3.250%, 11/02/26 ...... 1,560,035 1,563,740 Franklin Square Holdings L.P. Valkyr Purchaser LLC Term Loan B, 2.375%, 1M LIBOR + 2.250%, 08/01/25 ..... 486,249 483,210 Term Loan B, 4.750%, 3M LIBOR + 4.000%, 10/29/27 ..... 673,313 676,679 Greenhill & Co., Inc. Verifone Systems, Inc. Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/12/24 ..... 838,792 837,743 1st Lien Term Loan, 4.147%, 3M LIBOR + 4.000%, 08/20/25 . . . 2,784,129 2,742,865 GreenSky Holdings LLC Western Digital Corp. Term Loan B, 3.375%, 1M LIBOR + 3.250%, 03/31/25 ..... 1,285,250 1,259,545 Term Loan B4, 1.843%, 1M LIBOR + 1.750%, 04/29/23 .... 978,587 979,897 Term Loan B2, 5.500%, 1M LIBOR + 4.500%, 03/29/25 .... 446,625 445,508 16,546,633 Guggenheim Partners LLC Term Loan, 3.500%, 1M LIBOR + 2.750%, 07/21/23 ...... 5,087,952 5,092,043 Hudson River Trading LLC Term Loan, 3.104%, 1M LIBOR + 3.000%, 03/20/28 ...... 2,019,938 2,015,308

See accompanying notes to financial statements. BHFTI-63 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Diversified Financial Services—(Continued) Engineering & Construction—(Continued) IG Investment Holdings LLC Rockwood Service Corp. 1st Lien Term Loan, 4.750%, 3M LIBOR + 3.750%, 05/23/25 . . . 2,656,433 $ 2,664,971 Term Loan, 4.104%, 1M LIBOR + 4.000%, 01/23/27 ...... 409,035 $ 410,441 LPL Holdings, Inc. USIC Holdings, Inc. Term Loan B1, 1.854%, 1M LIBOR + 1.750%, 11/12/26 .... 1,280,500 1,269,695 Term Loan, 4.250%, 1M LIBOR + 3.500%, 05/12/28 ...... 169,857 169,830 NFP Corp. 5,250,830 Term Loan, 3.354%, 1M LIBOR + 3.250%, 02/15/27 ...... 718,554 709,460 PGX Holdings, Inc. Entertainment—2.2% 1st Lien Term Loan, 6.250%, 3M LIBOR + 5.250%, 09/29/23 . . . 668,472 638,390 Alchemy Copyrights LLC Virtus Investment Partners, Inc. Term Loan B, 3.500%, 1M LIBOR + 3.000%, 03/10/28 ..... 471,443 472,033 Term Loan, 3.000%, 6M LIBOR + 2.250%, 06/01/24 ...... 358,460 358,909 AMC Entertainment Holdings, Inc. 40,303,832 Term Loan B, 3.086%, 3M LIBOR + 3.000%, 04/22/26 ..... 1,588,438 1,498,425 Aristocrat Technologies, Inc. Electric—0.8% 1st Lien Term Loan, 1.938%, 3M LIBOR + 1.750%, 10/19/24 . . . 938,307 933,290 Calpine Construction Finance Co. L.P. Crown Finance U.S. Inc. Term Loan B, 2.104%, 1M LIBOR + 2.000%, 01/15/25 ..... 1,217,657 1,205,154 Incremental Term Loan, 3.750%, 3M LIBOR + Calpine Corp. 2.750%, 09/30/26 ...... 1,280,468 1,121,552 Term Loan B5, 2.610%, 1M LIBOR + 2.500%, 12/16/27 .... 2,632,121 2,618,850 Term Loan, 3.500%, 6M LIBOR + 2.500%, 02/28/25 ...... 1,568,015 1,385,079 Term Loan B9, 2.110%, 1M LIBOR + 2.000%, 04/05/26 .... 784,000 775,142 Term Loan B1, 7.625%, 3M LIBOR + 7.000%, 05/23/24 .... 398,065 503,884 Longview Power LLC Delta 2 (LUX) S.a.r.l. Exit Term Loan, 11.500%, 3M LIBOR + 10.000%, 07/30/25 . . 154,793 157,502 Term Loan, 3.500%, 1M LIBOR + 2.500%, 02/01/24 ...... 2,593,230 2,586,545 Pike Corp. Great Canadian Gaming Corp. Incremental Term Loan B, 3.110%, 1M LIBOR + Term Loan, 11/01/26 (b) ...... 575,000 576,527 3.000%, 01/21/28 ...... 431,507 431,267 GVC Holdings plc Vistra Operations Company LLC Term Loan B3, 3.000%, 6M LIBOR + 2.000%, 03/29/24 .... 991,688 988,434 1st Lien Term Loan B3, 1.850%, 1M LIBOR + Live Nation Entertainment, Inc. 1.750%, 12/31/25 ...... 1,182,738 1,176,085 Term Loan B4, 1.875%, 1M LIBOR + 1.750%, 10/17/26 .... 1,426,560 1,401,774 6,364,000 SeaWorld Parks & Entertainment, Inc. Term Loan B5, 3.750%, 1M LIBOR + 3.000%, 03/31/24 .... 1,291,157 1,282,511 Electrical Components & Equipment—0.1% SMG U.S. Midco 2, Inc. Energizer Holdings, Inc. Term Loan, 2.662%, 3M LIBOR + 2.500%, 01/23/25 ...... 217,747 211,396 Term Loan, 2.750%, 1M LIBOR + 2.250%, 12/22/27 ...... 991,126 990,712 Stars Group Holdings B.V. (The) Incremental Term Loan, 3.647%, 3M LIBOR + Electronics—0.3% 3.500%, 07/10/25 ...... 2,340,924 2,349,494 Celestica, Inc. UFC Holdings LLC Term Loan B, 2.595%, 1M LIBOR + 2.500%, 06/27/25 ..... 174,000 173,782 Term Loan B, 3.750%, 6M LIBOR + 3.000%, 04/29/26 ..... 2,111,530 2,111,310 Mirion Technologies, Inc. 17,422,254 Term Loan B, 4.147%, 3M LIBOR + 4.000%, 03/06/26 ..... 1,086,797 1,089,344 Tech Data Corp. Environmental Control—1.2% ABL Term Loan, 3.604%, 1M LIBOR + 3.500%, 06/30/25 .... 1,066,938 1,069,872 EnergySolutions LLC TTM Technologies, Inc. Term Loan B, 4.750%, 3M LIBOR + 3.750%, 05/09/25 ..... 1,037,170 1,034,577 Term Loan, 2.592%, 1M LIBOR + 2.500%, 09/28/24 ...... 139,110 138,936 EWT Holdings III Corp. 2,471,934 Term Loan, 2.625%, 1M LIBOR + 2.500%, 04/01/28 ...... 975,000 970,886 Filtration Group Corp. Engineering & Construction—0.6% 1st Lien Term Loan, 3.104%, 1M LIBOR + 3.000%, 03/29/25 . . . 1,418,704 1,409,305 Aegion Corp. Incremental Term Loan, 4.500%, 1M LIBOR + Term Loan, 5.500%, 3M LIBOR + 4.750%, 05/17/28 ...... 475,000 480,938 3.750%, 03/29/25 ...... 322,563 323,335 Artera Services LLC GFL Environmental, Inc. Term Loan, 03/06/25 (b) ...... 1,100,000 1,096,562 Term Loan, 3.500%, 1M LIBOR + 3.000%, 05/30/25 ...... 1,346,274 1,348,967 Brand Energy & Infrastructure Services, Inc. Harsco Corp. Term Loan, 5.250%, 3M LIBOR + 4.250%, 06/21/24 ...... 1,216,583 1,198,334 Term Loan, 2.750%, 1M LIBOR + 2.250%, 03/05/28 ...... 400,000 397,625 Brown Group Holding LLC Madison IAQ LLC Term Loan B, 3.250%, 3M LIBOR + 2.750%, 06/07/28 ..... 1,175,000 1,171,084 Term Loan, 06/16/28 (b) ...... 1,425,000 1,427,494 Osmose Utilities Services, Inc. Northstar Group Services, Inc. Term Loan, 06/23/28 (b) ...... 725,000 723,641 Term Loan B, 6.500%, 1M LIBOR + 5.500%, 11/09/26 ..... 1,160,313 1,169,015

See accompanying notes to financial statements. BHFTI-64 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Environmental Control—(Continued) Gas—0.1% Robertshaw U.S. Holding Corp. UGI Energy Services, LLC 1st Lien Term Loan, 4.500%, 1M LIBOR + 3.500%, 02/28/25 . . . 1,067,906 $ 1,033,199 Term Loan B, 3.854%, 1M LIBOR + 3.750%, 08/13/26 ..... 906,500 $ 909,049 U.S. Ecology Holdings, Inc. Term Loan B, 2.604%, 1M LIBOR + 2.500%, 11/01/26 ..... 221,625 222,156 Hand/Machine Tools—0.4% Alliance Laundry Systems LLC 9,336,559 Term Loan B, 4.250%, 3M LIBOR + 3.500%, 10/08/27 ..... 1,033,500 1,035,923 Apex Tool Group, LLC Food—1.9% Term Loan B, 6.500%, 1M LIBOR + 5.250%, 08/01/24 ..... 2,148,781 2,160,868 B&G Foods, Inc. Term Loan B4, 2.604%, 1M LIBOR + 2.500%, 10/10/26 .... 381,458 382,071 3,196,791 CHG PPC Parent LLC Term Loan B, 2.854%, 1M LIBOR + 2.750%, 03/31/25 ..... 436,500 432,681 Healthcare-Products—1.2% CM Acquisition Co. Albany Molecular Research, Inc. Term Loan, 11.000%, 3M LIBOR + 10.000%, 07/26/23 ..... 182,186 180,820 1st Lien Term Loan, 4.250%, 3M LIBOR + 3.250%, 08/30/24 . . . 1,147,104 1,149,613 Froneri International, Ltd. Incremental Term Loan, 4.500%, 3M LIBOR + Term Loan, 2.354%, 1M LIBOR + 2.250%, 01/29/27 ...... 1,856,250 1,831,074 3.500%, 08/30/24 ...... 223,875 224,547 H Food Holdings LLC Avantor Funding, Inc. Incremental Term Loan, 4.104%, 1M LIBOR + Incremental Term Loan B4, 3.250%, 1M LIBOR + 4.000%, 05/23/25 ...... 390,000 389,512 2.250%, 11/08/27 ...... 1,368,125 1,370,519 Term Loan B, 3.792%, 1M LIBOR + 3.687%, 05/23/25 ..... 654,750 651,527 Term Loan B3, 3.000%, 1M LIBOR + 2.000%, 11/21/24 .... 397,880 398,875 JBS USA Lux S.A. CPI International, Inc. Term Loan B, 2.104%, 1M LIBOR + 2.000%, 05/01/26 ..... 5,801,512 5,794,260 1st Lien Term Loan, 4.500%, 1M LIBOR + 3.500%, 07/26/24 . . . 568,850 568,850 Nomad Foods Europe Midco, Ltd. CryoLife, Inc. Term Loan B4, 2.323%, 1M LIBOR + 2.250%, 05/15/24 .... 1,697,333 1,691,852 Term Loan B, 4.500%, 3M LIBOR + 3.500%, 12/01/24 ..... 458,375 458,948 Greatbatch, Ltd. Shearer’s Foods, Inc. Term Loan B, 3.500%, 1M LIBOR + 2.500%, 10/27/22 ..... 1,994,948 2,000,434 Term Loan, 4.250%, 3M LIBOR + 3.500%, 09/23/27 ...... 372,192 373,123 Hanger, Inc. Simply Good Foods USA, Inc. 1st Lien Term Loan, 3.604%, 1M LIBOR + 3.500%, 03/06/25 . . . 991,688 992,153 Term Loan B, 4.750%, 1M LIBOR + 3.750%, 07/07/24 ..... 270,442 272,161 Ortho-Clinical Diagnostics S.A. Sovos Brands Intermediate, Inc. Term Loan B, 3.089%, 1M LIBOR + 3.000%, 06/30/25 ..... 1,806,775 1,807,259 Term Loan, 5.000%, 3M LIBOR + 4.250%, 06/08/28 ...... 650,000 652,437 Sotera Health Holdings LLC U.S. Foods, Inc. Term Loan, 3.250%, 3M LIBOR + 2.750%, 12/11/26 ...... 575,000 573,742 Term Loan B, 1.854%, 1M LIBOR + 1.750%, 06/27/23 ..... 677,654 672,264 Term Loan B, 2.104%, 1M LIBOR + 2.000%, 09/13/26 ..... 1,449,188 1,429,865 9,544,940 UTZ Quality Foods LLC Term Loan B, 3.104%, 1M LIBOR + 3.000%, 01/20/28 ..... 149,250 149,385 Healthcare-Services—4.9% Accelerated Health Systems LLC 14,903,032 Term Loan B, 3.591%, 1M LIBOR + 3.500%, 10/31/25 ..... 487,500 486,891 ADMI Corp. Food Service—0.2% Incremental Term Loan, 12/23/27 (b) ...... 450,000 449,930 Aramark Services, Inc. Term Loan B, 2.854%, 1M LIBOR + 2.750%, 04/30/25 ..... 1,552,221 1,535,567 Term Loan B3, 1.854%, 1M LIBOR + 1.750%, 03/11/25 .... 816,080 809,109 Alliance Healthcare Services, Inc. Term Loan B4, 1.854%, 1M LIBOR + 1.750%, 01/15/27 .... 987,500 977,131 Term Loan B, 5.500%, 1M LIBOR + 4.500%, 10/24/23 ..... 672,670 670,147 1,786,240 BW NHHC Holdco, Inc. 1st Lien Term Loan, 5.155%, 3M LIBOR + 5.000%, 05/15/25 . . . 897,250 827,526 Forest Products & Paper—0.2% Cambrex Corp. Asplundh Tree Expert LLC Term Loan, 4.250%, 1M LIBOR + 3.500%, 12/04/26 ...... 273,625 274,765 Term Loan B, 1.854%, 1M LIBOR + 1.750%, 09/07/27 ..... 1,091,750 1,089,778 Cano Health LLC Clearwater Paper Corp. Term Loan, 5.500%, 3M LIBOR + 4.750%, 11/19/27 ...... 852,829 855,494 Term Loan B, 3.125%, 1M LIBOR + 3.000%, 07/26/26 ..... 129,250 129,573 Catalent Pharma Solutions, Inc. Neenah, Inc. Term Loan B3, 2.500%, 1M LIBOR + 2.000%, 02/22/28 .... 835,219 838,351 Term Loan B, 3.500%, 3M LIBOR + 3.000%, 04/06/28 ..... 400,000 401,000 DuPage Medical Group, Ltd. Term Loan, 3.750%, 3M LIBOR + 3.000%, 03/12/28 ...... 473,813 473,319 1,620,351 Envision Healthcare Corp. 1st Lien Term Loan, 3.854%, 1M LIBOR + 3.750%, 10/10/25 . . . 4,143,750 3,558,445 eResearchTechnology, Inc. 1st Lien Term Loan, 5.500%, 1M LIBOR + 4.500%, 02/04/27 . . . 299,244 300,998

See accompanying notes to financial statements. BHFTI-65 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Healthcare-Services—(Continued) Home Furnishings—(Continued) Gentiva Health Services, Inc. AI Aqua Merger Sub, Inc. Term Loan, 2.875%, 1M LIBOR + 2.750%, 07/02/25 ...... 1,803,814 $ 1,802,122 Mattress Firm, Inc. GHX Ultimate Parent Corp. Term Loan B, 6.250%, 6M LIBOR + 5.250%, 11/26/27 ..... 736,250 $ 749,594 1st Lien Term Loan, 4.000%, 3M LIBOR + 3.000%, 06/28/24 . . . 1,057,921 1,059,904 1,502,173 IQVIA, Inc. Term Loan B1, 1.854%, 1M LIBOR + 1.750%, 03/07/24 .... 1,336,768 1,331,477 Household Products/Wares—0.1% Term Loan B2, 1.854%, 1M LIBOR + 1.750%, 01/17/25 .... 1,428,036 1,422,383 Kronos Acquisition Holdings, Inc. Loire Finco Luxembourg S.a.r.l. Term Loan B, 4.250%, 3M LIBOR + 3.750%, 12/22/26 ..... 1,169,125 1,162,445 Term Loan, 3.104%, 1M LIBOR + 3.000%, 04/21/27 ...... 297,011 292,680 Lonza Group AG Housewares—0.1% Term Loan B, 04/29/28 (b) ...... 1,300,000 1,302,275 CFS Brands, LLC Medical Solutions LLC 1st Lien Term Loan, 4.000%, 6M LIBOR + 3.000%, 03/20/25 . . . 241,846 238,219 Term Loan, 5.500%, 1M LIBOR + 4.500%, 06/14/24 ...... 860,919 864,416 Libbey Glass, Inc. National Mentor Holdings, Inc. Exit Term Loan, 9.000%, 3M LIBOR + 8.000%, 11/13/25 .... 288,154 300,040 Delayed Draw Term Loan, 3.750%, 3M LIBOR + 3.750%, 03/02/28 (c) ...... 88,096 88,358 538,259 Term Loan, 4.500%, 1M LIBOR + 3.750%, 02/18/28 ...... 1,897,655 1,903,289 Term Loan C, 4.750%, 3M LIBOR + 3.750%, 03/02/28 ..... 59,767 59,944 Insurance—3.4% Pacific Dental Services,LLC Alliant Holdings Intermediate, LLC Term Loan, 4.250%, 1M LIBOR + 3.500%, 05/05/28 ...... 525,000 527,297 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 05/09/25 ..... 2,660,820 2,636,770 Phoenix Guarantor, Inc. Term Loan B3, 4.250%, 1M LIBOR + 3.750%, 10/08/27 .... 273,202 273,992 Term Loan B, 3.341%, 1M LIBOR + 3.250%, 03/05/26 ..... 1,617,124 1,608,027 AmWINS Group, Inc. Term Loan B, 3.000%, 1M LIBOR + 2.250%, 02/19/28 ..... 3,930,250 3,910,375 Term Loan B, 3.573%, 1M LIBOR + 3.500%, 03/05/26 ..... 1,345,253 1,337,567 AssuredPartners, Inc. PPD, Inc. Term Loan B, 3.604%, 1M LIBOR + 3.500%, 02/12/27 ..... 172,375 171,636 Initial Term Loan, 2.750%, 1M LIBOR + 2.250%, 01/13/28 . . 5,386,500 5,386,166 Asurion LLC Radiology Partners, Inc. 2nd Lien Term Loan B3, 5.354%, 1M LIBOR + 1st Lien Term Loan B, 4.333%, 1M LIBOR + 5.250%, 01/31/28 ...... 1,160,000 1,171,020 4.250%, 07/09/25 ...... 1,453,497 1,455,112 Extended Term Loan, 3.354%, 1M LIBOR + RadNet, Inc. 3.250%, 12/23/26 ...... 5,373,000 5,318,013 Term Loan, 3.750%, 3M LIBOR + 3.000%, 04/22/28 ...... 1,075,000 1,075,000 Term Loan B6, 3.104%, 1M LIBOR + 3.000%, 11/03/23 .... 1,783,752 1,776,365 Select Medical Corp. HUB International, Ltd. Term Loan B, 2.360%, 1M LIBOR + 2.250%, 03/06/25 ..... 2,457,947 2,444,890 Term Loan B, 2.926%, 3M LIBOR + 2.750%, 04/25/25 ..... 4,437,750 4,392,911 Sound Inpatient Physicians Term Loan B, 4.000%, 3M LIBOR + 3.250%, 04/25/25 ..... 1,576,082 1,578,263 1st Lien Term Loan, 2.845%, 1M LIBOR + 2.750%, 06/27/25 . . . 412,250 411,176 Ryan Specialty Group LLC Surgery Center Holdings, Inc. Term Loan, 3.750%, 1M LIBOR + 3.000%, 09/01/27 ...... 1,662,438 1,665,347 Term Loan, 4.500%, 1M LIBOR + 3.750%, 08/31/26 ...... 1,389,143 1,396,849 Sedgwick Claims Management Services, Inc. U.S. Anesthesia Partners, Inc. Term Loan B, 3.354%, 1M LIBOR + 3.250%, 12/31/25 ..... 1,072,500 1,062,311 Term Loan, 4.000%, 6M LIBOR + 3.000%, 06/23/24 ...... 2,123,778 2,111,832 USI, Inc. U.S. Radiology Specialists, Inc. Incremental Term Loan B, 3.397%, 3M LIBOR + Term Loan, 6.250%, 3M LIBOR + 5.500%, 12/10/27 ...... 746,250 751,847 3.250%, 12/02/26 ...... 1,206,635 1,197,262 38,904,044 Term Loan, 3.147%, 3M LIBOR + 3.000%, 05/16/24 ...... 2,598,750 2,578,332 27,732,597 Holding Companies-Diversified—0.1% Belfor Holdings Inc. Internet—2.8% Term Loan B, 4.104%, 1M LIBOR + 4.000%, 04/06/26 ..... 540,746 541,421 Barracuda Networks, Inc. 1st Lien Term Loan, 4.500%, 3M LIBOR + 3.750%, 02/12/25 . . . 1,076,434 1,080,807 Home Builders—0.1% Buzz Merger Sub, Ltd. Thor Industries, Inc. Term Loan B, 2.854%, 1M LIBOR + 2.750%, 01/29/27 ..... 493,750 492,824 USD Term Loan, 3.125%, 1M LIBOR + 3.000%, 02/01/26 . . . 927,840 929,870 Term Loan B, 3.750%, 1M LIBOR + 3.250%, 01/29/27 ..... 53,545 53,612 CNT Holdings I Corp. Home Furnishings—0.2% 2nd LienTerm Loan, 4.500%, 3M LIBOR + AI Aqua Merger Sub, Inc. 3.750%, 11/08/27 ...... 648,375 649,641 1st Lien Term Loan B, 06/16/28 (b) ...... 666,667 668,959 Endure Digital, Inc. 1st Lien Term Loan, 06/16/28 (b) ...... 83,333 83,620 Term Loan, 4.250%, 3M LIBOR + 3.500%, 02/10/28 ...... 2,850,000 2,841,986 Getty Images, Inc. Term Loan B, 4.625%, 1M LIBOR + 4.500%, 02/19/26 ..... 2,644,390 2,646,373

See accompanying notes to financial statements. BHFTI-66 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Internet—(Continued) Lodging—(Continued) Go Daddy Operating Co. LLC Four Seasons Hotels, Ltd. Term Loan B1, 1.854%, 1M LIBOR + 1.750%, 02/15/24 .... 2,891,529 $ 2,872,306 1st Lien Term Loan, 2.104%, 1M LIBOR + 2.000%, 11/30/23 . . . 859,500 $ 858,127 Term Loan B4, 2.104%, 1M LIBOR + 2.000%, 08/10/27 .... 1,064,250 1,059,225 Golden Nugget, Inc. Hoya Midco LLC Incremental Term Loan B, 3.250%, 2M LIBOR + 1st Lien Term Loan, 4.500%, 1M LIBOR + 3.500%, 06/30/24 . . . 935,862 932,353 2.500%, 10/04/23 ...... 3,976,903 3,951,424 Imperva, Inc. Hilton Grand Vacations Borrower LLC 1st Lien Term Loan, 5.000%, 3M LIBOR + 4.000%, 01/12/26 . . . 545,823 548,308 Term Loan B, 05/19/28 (b) ...... 950,000 951,633 Magnite, Inc. Playa Resorts Holding B.V. Term Loan, 5.750%, 3M LIBOR + 5.000%, 04/01/28 ...... 675,000 675,000 Term Loan B, 3.750%, 1M LIBOR + 2.750%, 04/29/24 ..... 1,945,400 1,873,054 Match Group, Inc. Wyndham Hotels & Resorts, Inc. Term Loan B, 1.906%, 3M LIBOR + 1.750%, 02/13/27 ..... 675,000 667,969 Term Loan B, 1.854%, 1M LIBOR + 1.750%, 05/30/25 ..... 1,167,000 1,158,490 ProQuest LLC 11,061,291 Term Loan, 3.354%, 1M LIBOR + 3.250%, 10/23/26 ...... 1,768,566 1,768,962 Uber Technologies, Inc. Machinery-Construction & Mining—0.5% 1st Lien Term Loan B, 3.604%, 1M LIBOR + 3.500%, 04/04/25 ...... 1,382,250 1,383,237 Brookfield WEC Holdings, Inc. Term Loan B, 3.604%, 1M LIBOR + 3.500%, 02/16/27 ..... 4,266,027 4,271,739 Term Loan, 3.250%, 1M LIBOR + 2.750%, 08/01/25 ...... 4,002,798 3,969,558 Vungle, Inc. Term Loan B, 5.604%, 1M LIBOR + 5.500%, 09/30/26 ..... 589,500 592,079 Machinery-Diversified—1.6% Altra Industrial Motion Corp. 22,536,421 Term Loan B, 2.104%, 1M LIBOR + 2.000%, 10/01/25 ..... 511,940 510,597 Clark Equipment Co. Investment Companies—0.2% Term Loan B, 1.982%, 3M LIBOR + 1.835%, 05/18/24 ..... 1,006,156 999,658 EIG Management Co. LLC CPM Holdings, Inc. Term Loan B, 4.500%, 1M LIBOR + 3.750%, 02/22/25 ..... 241,875 241,573 1st Lien Term Loan, 3.592%, 1M LIBOR + 3.500%, 11/17/25 . . . 1,784,844 1,774,582 FinCo I LLC DXP Enterprises, Inc. Term Loan B, 2.604%, 1M LIBOR + 2.500%, 06/27/25 ..... 1,471,656 1,469,357 Term Loan, 5.750%, 1M LIBOR + 4.750%, 12/16/27 ...... 547,250 550,328 1,710,930 Engineered Machinery Holdings, Inc. 1st Lien Term Loan, 4.250%, 3M LIBOR + 3.250%, 07/19/24 . . . 1,133,875 1,134,179 Iron/Steel—0.2% Incremental Term Loan, 5.250%, 3M LIBOR + Phoenix Services International LLC 4.250%, 07/19/24 ...... 268,125 269,466 Term Loan, 4.750%, 1M LIBOR + 3.750%, 03/01/25 ...... 1,307,337 1,305,703 Gardner Denver, Inc. TMS International Corp. Term Loan B, 2.854%, 1M LIBOR + 2.750%, 03/01/27 ..... 1,237,500 1,239,563 Term Loan B3, 3.750%, 3M LIBOR + 2.750%, 08/14/24 .... 223,875 223,316 Term Loan B2, 1.854%, 1M LIBOR + 1.750%, 03/01/27 .... 1,095,073 1,084,219 1,529,019 GrafTech Finance, Inc. Term Loan B, 3.500%, 1M LIBOR + 3.000%, 02/12/25 ..... 925,174 929,414 Leisure Time—1.3% Granite Holdings U.S. Acquisition Co. Bombardier Recreational Products, Inc. Term Loan B, 4.147%, 3M LIBOR + 4.000%, 09/30/26 ..... 995,165 996,254 Term Loan, 2.104%, 1M LIBOR + 2.000%, 05/24/27 ...... 4,637,560 4,589,979 Thermon Industries, Inc. Carnival Corp. Term Loan B, 4.750%, 1M LIBOR + 3.750%, 10/30/24 ..... 207,025 207,154 Term Loan B, 8.500%, 1M LIBOR + 7.500%, 06/30/25 ..... 1,637,500 1,678,948 Titan Acquisition, Ltd. ClubCorp Holdings, Inc. Term Loan B, 3.167%, 3M LIBOR + 3.000%, 03/28/25 ..... 2,684,805 2,642,184 Term Loan B, 2.897%, 3M LIBOR + 2.750%, 09/18/24 ..... 1,636,250 1,575,458 Welbilt, Inc. Hayward Industries, Inc. Term Loan B, 2.604%, 1M LIBOR + 2.500%, 10/23/25 ..... 794,103 788,643 Term Loan, 3.250%, 1M LIBOR + 2.750%, 05/12/28 ...... 800,000 799,500 13,126,241 MajorDrive Holdings LLC Term Loan B, 4.500%, 3M LIBOR + 4.000%, 05/12/28 ..... 625,000 626,660 Media—5.0% SRAM, LLC Adevinta ASA Term Loan B, 3.250%, 6M LIBOR + 2.750%, 05/12/28 ..... 297,273 297,768 Term Loan B, 04/20/28 (b) ...... 275,000 275,558 Travel Leaders Group LLC Charter Communications Operating LLC Term Loan B, 4.104%, 1M LIBOR + 4.000%, 01/25/24 ..... 1,246,699 1,203,324 Term Loan B2, 1.860%, 1M LIBOR + 1.750%, 02/01/27 .... 1,854,586 1,842,299 10,771,637 CSC Holdings LLC Incremental Term Loan, 2.323%, 1M LIBOR + Lodging—1.4% 2.250%, 01/15/26 ...... 928,625 917,453 CityCenter Holdings LLC Term Loan B1, 2.323%, 1M LIBOR + 2.250%, 07/17/25 .... 2,362,500 2,337,398 Term Loan B, 3.000%, 1M LIBOR + 2.250%, 04/18/24 ..... 2,283,446 2,268,563 Term Loan B5, 2.573%, 1M LIBOR + 2.500%, 04/15/27 .... 1,170,188 1,161,289

See accompanying notes to financial statements. BHFTI-67 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Media—(Continued) Metal Fabricate/Hardware—(Continued) Cumulus Media New Holdings, Inc. Atkore International, Inc. Term Loan B, 4.750%, 3M LIBOR + 3.750%, 03/31/26 ..... 322,312 $ 322,917 Term Loan B, 2.500%, 3M LIBOR + 2.000%, 05/26/28 ..... 875,000 $ 875,547 Diamond Sports Group, LLC Dynacast International LLC Term Loan, 3.360%, 1M LIBOR + 3.250%, 08/24/26 ...... 2,628,188 1,628,538 First Out Term Loan, 5.750%, 3M LIBOR + Entercom Media Corp. 4.750%, 07/19/25 ...... 870,903 874,169 Term Loan, 2.595%, 1M LIBOR + 2.500%, 11/18/24 ...... 975,248 967,934 Hillman Group, Inc. (The) Entravision Communications Corp. Delayed Draw Term Loan, 02/24/28 (b) ...... 71,730 71,655 Term Loan B, 2.854%, 1M LIBOR + 2.750%, 11/29/24 ..... 730,313 725,140 Term Loan B1, 02/24/28 (b) ...... 353,270 352,902 GEE Holdings 2 LLC Neenah Foundry Co. Exit Term Loan, 9.000%, 3M LIBOR + 8.000%, 03/24/25 .... 158,328 158,624 Term Loan, 10.000%, 2M LIBOR + 9.000%, 12/13/22 ...... 577,745 534,414 Global Eagle Entertainment, Inc. Penn Engineering & Manufacturing Corp. 2nd Lien Takeback Term Loan, 9.250%, 3M LIBOR + Term Loan B, 3.750%, 1M LIBOR + 2.750%, 06/27/24 ..... 166,680 167,097 1.000%, 03/23/26 ...... 310,249 286,980 Tiger Acquisition LLC Gray Television, Inc. Term Loan, 3.750%, 3M LIBOR + 3.250%, 06/01/28 ...... 525,000 524,235 Term Loan B, 2.342%, 1M LIBOR + 2.250%, 02/07/24 ..... 1,470,015 1,465,115 Werner FinCo L.P. Term Loan C, 2.592%, 1M LIBOR + 2.500%, 01/02/26 ..... 552,268 550,274 Term Loan, 5.000%, 3M LIBOR + 4.000%, 07/24/24 ...... 1,348,405 1,351,776 Hubbard Radio LLC WireCo WorldGroup, Inc. Term Loan B, 5.250%, 3M LIBOR + 4.250%, 03/28/25 ..... 514,141 510,606 1st Lien Term Loan, 6.000%, 6M LIBOR + 5.000%, 09/30/23 . . . 1,016,438 1,018,253 iHeartCommunications, Inc. Zekelman Industries, Inc. Incremental Term Loan, 4.750%, 1M LIBOR + Term Loan, 2.092%, 1M LIBOR + 2.000%, 01/24/27 ...... 4,125,792 4,087,542 4.000%, 05/01/26 ...... 371,250 371,482 10,543,036 Term Loan, 3.104%, 1M LIBOR + 3.000%, 05/01/26 ...... 935,750 929,024 LCPR Loan Financing LLC Mining—0.0% Term Loan B, 3.823%, 1M LIBOR + 3.750%, 10/15/28 ..... 250,000 250,885 PMHC II, Inc. Mission Broadcasting, Inc. 1st Lien Term Loan, 4.500%, 12M LIBOR + Term Loan B, 2.604%, 1M LIBOR + 2.500%, 05/26/28 ..... 400,000 399,450 3.500%, 03/31/25 ...... 338,625 336,579 Nexstar Broadcasting, Inc. Term Loan B3, 2.345%, 1M LIBOR + 2.250%, 01/17/24 .... 1,086,220 1,083,601 Miscellaneous Manufacturing—1.4% Term Loan B4, 2.592%, 1M LIBOR + 2.500%, 09/18/26 .... 388,236 387,750 CeramTec AcquiCo GmbH Recorded Books, Inc. Term Loan B2, 2.885%, 3M LIBOR + 2.750%, 03/07/25 .... 1,050,529 1,028,643 Term Loan, 4.080%, 1M LIBOR + 4.000%, 08/29/25 ...... 235,231 235,819 EXC Holdings III Corp. Sinclair Television Group, Inc. 1st Lien Term Loan, 4.500%, 3M LIBOR + 3.500%, 12/02/24 . . . 434,250 435,064 Term Loan B2B, 2.610%, 1M LIBOR + 2.500%, 09/30/26 . . . 540,375 536,255 Gates Global LLC Term Loan B3, 3.110%, 1M LIBOR + 3.000%, 04/01/28 .... 1,743,146 1,729,346 Term Loan B3, 3.500%, 1M LIBOR + 2.750%, 03/31/27 .... 3,670,634 3,667,716 Univision Communications, Inc. Gemini HDPE LLC Term Loan B, 3.854%, 1M LIBOR + 3.750%, 03/15/26 ..... 1,475,329 1,479,386 Term Loan B, 3.500%, 3M LIBOR + 3.000%, 12/31/27 ..... 690,881 690,773 Term Loan C5, 2.854%, 1M LIBOR + 2.750%, 03/15/24 ..... 1,898,610 1,898,102 Groupe Solmax, Inc. UPC Broadband Holding B.V. Term Loan, 06/28/28 (b) ...... 850,000 851,063 Term Loan B, 2.323%, 1M LIBOR + 2.250%, 04/30/28 ..... 775,000 766,558 LTI Holdings, Inc. UPC Financing Partnership 1st Lien Term Loan, 3.604%, 1M LIBOR + 3.500%, 09/06/25 . . . 1,217,567 1,202,727 USD Term Loan AX, 3.073%, 1M LIBOR + 3.000%, 01/31/29 . . . 3,100,000 3,085,145 Delayed Draw Term Loan, 07/24/26 (b) ...... 200,000 200,000 Virgin Media Bristol LLC Term Loan, 07/24/26 (b) ...... 325,000 325,000 Term Loan N, 2.573%, 1M LIBOR + 2.500%, 01/31/28 ..... 6,450,000 6,400,619 Term Loan, 4.854%, 1M LIBOR + 4.750%, 07/24/26 ...... 171,938 172,153 Term Loan Q, 3.353%, 3M LIBOR + 3.250%, 01/31/29 ..... 1,125,000 1,124,560 Momentive Performance Materials, Inc. Ziggo Financing Partnership Term Loan B, 3.360%, 1M LIBOR + 3.250%, 05/15/24 ..... 2,352,000 2,340,729 Term Loan I, 2.573%, 1M LIBOR + 2.500%, 04/30/28 ...... 6,475,000 6,420,144 Ravago Holdings America, Inc. 40,248,251 Term Loan B, 2.650%, 1M LIBOR + 2.500%, 02/18/28 ..... 224,438 223,596 Rohm Holding GmbH Metal Fabricate/Hardware—1.3% Term Loan B, 4.978%, 6M LIBOR + 4.750%, 07/31/26 ..... 344,737 345,814 Advanced Drainage Systems, Inc. 11,483,278 Term Loan B, 2.375%, 1M LIBOR + 2.250%, 07/31/26 ..... 188,357 189,299 Ameriforge Group, Inc. Oil & Gas—0.9% Exit Term Loan, 7.000%, 3M LIBOR + 8.000%, 12/31/23 .... 800,839 440,461 CITGO Holding, Inc. Term Loan, 14.000%, 1M LIBOR + Term Loan B, 8.000%, 3M LIBOR + 7.000%, 08/01/23 ..... 221,063 219,957 13.000%, 12/31/23 (c) (e) ...... 101,247 55,686

See accompanying notes to financial statements. BHFTI-68 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—(Continued) Pharmaceuticals—4.9% CITGO Petroleum Corp. Akorn, Inc. Term Loan B, 7.250%, 6M LIBOR + 6.250%, 03/28/24 ..... 1,960,431 $ 1,978,810 Take Back Term Loan, 8.500%, 3M LIBOR + Delek U.S. Holdings, Inc. 7.500%, 10/01/25 ...... 660,360 $ 682,372 Incremental Term Loan B, 6.500%, 1M LIBOR + Alkermes, Inc. 5.500%, 03/31/25 ...... 543,125 546,180 Term Loan B, 3.000%, 3M LIBOR + 2.500%, 03/09/26 ..... 345,541 344,678 Term Loan B, 2.354%, 1M LIBOR + 2.250%, 03/31/25 ..... 3,579,417 3,500,670 Alphabet Holding Co., Inc. Fieldwood Energy LLC 1st Lien Term Loan, 3.604%, 1M LIBOR + 3.500%, 09/26/24 . . . 2,165,625 2,165,551 1st Lien Term Loan, 04/11/22 (d) ...... 1,276,437 663,747 Amneal Pharmaceuticals LLC DIP Delayed Draw Term Loan, 9.750%, 1M LIBOR + Term Loan B, 3.625%, 1M LIBOR + 3.500%, 05/04/25 ..... 2,963,602 2,920,630 8.750%, 08/04/21 (c) ...... 188,572 191,400 Arbor Pharmaceuticals, Inc. Sunrise Oil & Gas Properties LLC Term Loan B, 6.000%, 6M LIBOR + 5.000%, 07/05/23 ..... 709,536 707,171 First Out Term Loan, 8.000%, 1M LIBOR + Bausch Health Companies, Inc. 7.000%, 01/17/23 ...... 80,587 78,170 Term Loan B, 3.104%, 1M LIBOR + 3.000%, 06/02/25 ..... 4,906,205 4,892,409 Last Out Term Loan, 8.000%, 1M LIBOR + Bayou Intermediate LLC 7.000%, 01/17/23 ...... 98,259 76,151 Term Loan B, 05/13/28 (b) ...... 775,000 778,875 Term Loan, 8.000%, 1M LIBOR + 7.000%, 01/17/23 ...... 85,053 78,673 Change Healthcare Holdings LLC Term Loan B, 3.500%, 1M LIBOR + 2.500%, 03/01/24 ..... 3,330,648 3,330,878 7,333,758 Elanco Animal Health, Inc. Term Loan B, 1.842%, 1M LIBOR + 1.750%, 08/02/27 ..... 1,767,328 1,744,448 Oil & Gas Services—0.1% Gainwell Acquisition Corp. Apergy Corp. Term Loan B, 4.750%, 3M LIBOR + 4.000%, 10/01/27 ..... 5,504,420 5,528,502 1st Lien Term Loan, 2.625%, 1M LIBOR + 2.500%, 05/09/25 . . . 109,639 109,365 Grifols Worldwide Operations USA, Inc. Term Loan, 6.000%, 3M LIBOR + 5.000%, 06/03/27 ...... 190,000 194,156 Term Loan B, 2.088%, 1W LIBOR + 2.000%, 11/15/27 ..... 3,884,594 3,850,382 Lealand Finance Company B.V. HLF Financing S.a r.l. Take Back Term Loan, 3.000%, 1M LIBOR + Term Loan B, 2.604%, 1M LIBOR + 2.500%, 08/18/25 ..... 948,188 944,780 3.000%, 06/30/25 ...... 271,680 124,837 Horizon Therapeutics USA, Inc. 428,358 Term Loan B, 2.375%, 1M LIBOR + 2.250%, 05/22/26 ..... 988,299 984,284 Term Loan B, 2.500%, 1M LIBOR + 2.000%, 03/15/28 ..... 1,995,000 1,987,519 Packaging & Containers—2.0% Jazz Financing Lux S.a.r.l. Berry Global, Inc. USD Term Loan, 4.000%, 1M LIBOR + 3.500%, 04/21/28 . . . 1,675,000 1,683,226 Term Loan Z, 1.827%, 1M LIBOR + 1.750%, 07/01/26 ..... 748,170 743,494 Mallinckrodt International Finance S.A. BWAY Holding Co. Term Loan B, 6.000%, 6M LIBOR + 5.250%, 09/24/24 ..... 3,996,911 3,878,670 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/03/24 ..... 1,872,000 1,830,382 Term Loan B, 6.250%, 1M LIBOR + 5.500%, 02/24/25 ..... 512,364 498,914 Charter NEX U.S., Inc. Packaging Coordinators Midco, Inc. Term Loan, 4.500%, 1M LIBOR + 4.250%, 12/01/27 ...... 423,938 425,462 Term Loan, 4.250%, 3M LIBOR + 3.500%, 11/30/27 ...... 1,072,313 1,074,457 Flex Acquisition Co., Inc. Padagis LLC Incremental Term Loan, 3.452%, 3M LIBOR + Term Loan B, 06/30/28 (b) ...... 850,000 845,750 3.250%, 06/29/25 ...... 1,305,536 1,294,602 PetVet Care Centers LLC Term Loan, 4.000%, 3M LIBOR + 3.500%, 02/23/28 ...... 4,698,796 4,686,462 Term Loan B3, 4.250%, 1M LIBOR + 3.500%, 02/14/25 .... 149,241 149,800 Pregis TopCo Corp. 38,993,296 1st Lien Term Loan, 4.104%, 1M LIBOR + 4.000%, 07/31/26 . . . 566,375 566,641 Proampac PG Borrower LLC Pipelines—0.6% Term Loan, 5.000%, 3M LIBOR + 4.000%, 11/03/25 ...... 698,250 699,704 Blackstone CQP Holdco L.P. Reynolds Group Holdings, Inc. Term Loan B, 06/05/28 (b) ...... 1,425,000 1,421,215 Term Loan, 2.854%, 1M LIBOR + 2.750%, 02/05/23 ...... 1,474,857 1,473,730 Buckeye Partners L.P. Term Loan B2, 3.354%, 1M LIBOR + 3.250%, 02/05/26 .... 1,318,375 1,311,509 Term Loan B, 2.354%, 1M LIBOR + 2.250%, 11/01/26 ..... 2,345,402 2,331,556 Ring Container Technologies Group LLC Centurion Pipeline Co., LLC 1st Lien Term Loan, 2.854%, 1M LIBOR + 2.750%, 10/31/24 . . . 724,296 720,449 Incremental Term Loan, 4.095%, 1M LIBOR + TricorBraun Holdings, Inc. 4.000%, 09/28/25 ...... 199,000 196,264 Delayed Draw Term Loan, 3.750%, 3M LIBOR + Term Loan B, 3.354%, 1M LIBOR + 3.250%, 09/29/25 ..... 219,375 216,907 3.250%, 03/03/28 (c) ...... 105,585 104,917 ITT Holdings LLC Term Loan, 3.750%, 3M LIBOR + 3.250%, 03/03/28 ...... 469,415 466,444 Term Loan, 07/30/28 (b) ...... 425,000 425,000 Trident TPI Holdings, Inc. Prairie ECI Acquiror L.P. Term Loan B1, 4.000%, 3M LIBOR + 3.000%, 10/17/24 .... 1,859,197 1,857,163 Term Loan B, 4.854%, 1M LIBOR + 4.750%, 03/11/26 ..... 586,315 572,076 16,180,959 5,163,018

See accompanying notes to financial statements. BHFTI-69 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate—0.8% Retail—(Continued) Cushman & Wakefield U.S. Borrower, LLC Serta Simmons Bedding LLC Term Loan B, 2.854%, 1M LIBOR + 2.750%, 08/21/25 ..... 2,421,130 $ 2,404,182 Super Priority First Out Term Loan, 8.500%, 1M LIBOR + RE/MAX International, Inc. 7.500%, 08/10/23 ...... 913,100 $ 923,372 Term Loan B, 06/24/28 (b) ...... 1,700,000 1,700,000 Super Priority Second Out Term Loan, 8.500%, 1M LIBOR + Term Loan B, 3.500%, 3M LIBOR + 2.750%, 12/15/23 ..... 1,833,135 1,835,427 7.500%, 08/10/23 ...... 3,019,967 2,891,618 Realogy Group LLC SRS Distribution, Inc. Term Loan B, 3.000%, 1M LIBOR + 2.250%, 02/08/25 ..... 396,067 395,572 Term Loan B, 4.250%, 1M LIBOR + 3.750%, 06/02/28 ..... 1,050,000 1,050,411 6,335,181 Steinway Musical Instruments, Inc. Term Loan B, 4.750%, 1M LIBOR + 3.750%, 02/14/25 ..... 176,976 175,704 Real Estate Investment Trusts—0.5% White Cap Buyer LLC Brookfield Property REIT, Inc. Term Loan B, 4.500%, 3M LIBOR + 4.000%, 10/19/27 ..... 2,014,875 2,020,227 1st Lien Term Loan B, 2.604%, 1M LIBOR + 27,925,457 2.500%, 08/27/25 ...... 875,250 855,994 Iron Mountain, Inc. Semiconductors—0.5% Term Loan B, 1.854%, 1M LIBOR + 1.750%, 01/02/26 ..... 798,188 784,219 Allegro Microsystems, Inc. VICI Properties 1 LLC Term Loan, 4.250%, 3M LIBOR + 3.750%, 09/30/27 ...... 42,308 42,308 Term Loan B, 1.841%, 1M LIBOR + 1.750%, 12/20/24 ..... 2,352,273 2,335,365 Bright Bidco B.V. 3,975,578 Term Loan B, 4.500%, 3M LIBOR + 3.500%, 06/30/24 ..... 1,849,172 1,554,625 Cohu, Inc. Retail—3.5% Term Loan B, 3.172%, 3M LIBOR + 3.000%, 10/01/25 ..... 232,653 232,217 1011778 B.C. Unlimited Liability Co. MACOM Technology Solutions Holdings, Inc. Term Loan B4, 1.854%, 1M LIBOR + 1.750%, 11/19/26 .... 5,048,125 4,985,023 Term Loan, 2.354%, 1M LIBOR + 2.250%, 05/17/24 ...... 203,296 202,889 Ascena Retail Group, Inc. MaxLinear, Inc. Term Loan B, 08/21/22 (d) ...... 1,512,796 63,663 Term Loan B, 06/17/28 (b) ...... 850,000 849,203 Beacon Roofing Supply, Inc. Ultra Clean Holdings, Inc. Term Loan B, 2.604%, 1M LIBOR + 2.500%, 04/23/28 ..... 1,025,000 1,021,156 Term Loan B, 3.854%, 1M LIBOR + 3.750%, 08/27/25 ..... 1,154,266 1,158,113 BJ’s Wholesale Club, Inc. 4,039,355 1st Lien Term Loan, 2.073%, 1M LIBOR + 2.000%, 02/03/24 . . . 1,008,772 1,010,033 David’s Bridal, Inc. Software—15.5% New Money Term Loan, 7.000%, 3M LIBOR + Applied Systems, Inc. 6.000%, 06/30/23 (e) (f) ...... 275,433 251,911 1st Lien Term Loan, 3.774%, 1M LIBOR + 3.250%, 09/19/24 . . . 6,490,211 6,485,577 PriorityTermLoan,5.000%,PIK,06/23/23(e)(f)...... 233,257 231,998 AppLovin Corp. Foundation Building Materials Holding Co. LLC Term Loan B, 3.354%, 1M LIBOR + 3.250%, 08/15/25 ..... 4,598,925 4,597,693 Term Loan, 3.750%, 3M LIBOR + 3.250%, 02/03/28 ...... 1,150,000 1,143,634 Aptean, Inc. Great Outdoors Group LLC Term Loan, 4.354%, 1M LIBOR + 4.250%, 04/23/26 ...... 2,665,474 2,662,974 Term Loan B, 5.000%, 6M LIBOR + 4.250%, 03/06/28 ..... 2,512,375 2,530,545 AQA Acquisition Holding, Inc. Harbor Freight Tools USA, Inc. Term Loan, 4.750%, 3M LIBOR + 4.250%, 03/03/28 ...... 800,000 803,334 Term Loan B, 3.750%, 1M LIBOR + 3.000%, 10/19/27 ..... 1,343,250 1,345,082 Ascend Learning LLC IRB Holding Corp. Incremental Term Loan, 4.750%, 1M LIBOR + Incremental Term Loan, 4.250%, 3M LIBOR + 3.750%, 07/12/24 ...... 347,375 348,135 3.250%, 12/15/27 ...... 497,500 497,759 Term Loan B, 4.000%, 1M LIBOR + 3.000%, 07/12/24 ..... 1,347,500 1,348,132 Term Loan B, 3.750%, 3M LIBOR + 2.750%, 02/05/25 ..... 2,880,611 2,876,561 Athenahealth, Inc. Les Schwab Tire Centers Term Loan B1, 4.410%, 3M LIBOR + 4.250%, 02/11/26 .... 3,182,648 3,203,532 Term Loan B, 4.250%, 6M LIBOR + 3.500%, 11/02/27 ..... 2,412,875 2,418,907 Banff Merger Sub, Inc Murphy USA, Inc. USD Term Loan, 3.854%, 1M LIBOR + 3.750%, 10/02/25 . . . 4,600,864 4,579,295 Term Loan B, 2.250%, 1M LIBOR + 1.750%, 01/31/28 ..... 324,188 324,998 Bracket Intermediate Holding Corp. Park River Holdings, Inc. 1st Lien Term Loan B, 4.444%, 3M LIBOR + Term Loan, 4.000%, 3M LIBOR + 3.250%, 12/28/27 ...... 625,000 622,591 4.250%, 09/05/25 ...... 802,313 802,647 PetSmart, Inc. Camelot U.S. Acquisition 1 Co. Term Loan B, 4.500%, 3M LIBOR + 3.750%, 02/12/28 ..... 1,325,000 1,327,484 Incremental Term Loan B, 4.000%, 1M LIBOR + Phillips Feed Service, Inc. 3.000%, 10/30/26 ...... 1,044,750 1,046,578 Term Loan, 8.000%, 3M LIBOR + 7.000%, 11/13/24 (e) (f) . . 11,520 9,216 Term Loan B, 3.104%, 1M LIBOR + 3.000%, 10/30/26 ..... 1,625,250 1,621,187 Pier 1 Imports (U.S.), Inc. CCC Information Services, Inc. Term Loan B, 04/30/22 (d) (e) (f) ...... 254,455 203,564 1st Lien Term Loan, 4.000%, 1M LIBOR + 3.000%, 04/29/24 . . . 2,675,482 2,678,347

See accompanying notes to financial statements. BHFTI-70 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Software—(Continued) Software—(Continued) CentralSquare Technologies LLC N Able, Inc. 1st Lien Term Loan, 3.897%, 3M LIBOR + 3.750%, 08/29/25 . . . 780,000 $ 732,030 Term Loan B, 04/15/28 (b) ...... 450,000 $ 450,000 Ceridian HCM Holding, Inc. Navicure, Inc. Term Loan B, 2.594%, 1W LIBOR + 2.500%, 04/30/25 ..... 1,337,188 1,319,637 Term Loan B, 4.104%, 1M LIBOR + 4.000%, 10/22/26 ..... 2,351,407 2,358,755 Cloudera, Inc. Playtika Holding Corp. Term Loan B, 3.250%, 1M LIBOR + 2.500%, 12/22/27 ..... 548,625 548,899 Term Loan, 2.854%, 1M LIBOR + 2.750%, 03/13/28 ...... 1,909,171 1,903,638 Constant Contact, Inc. PointClickCare Technologies, Inc. Delayed Draw Term Loan, 4.750%, 1M LIBOR + Term Loan B, 3.750%, 6M LIBOR + 3.000%, 12/29/27 ..... 548,625 548,968 4.750%, 02/10/28 (c) ...... 381,176 380,342 Polaris Newco LLC Term Loan, 4.750%, 3M LIBOR + 4.000%, 02/10/28 ...... 1,418,824 1,415,719 USDTermLoanB,4.500%,6MLIBOR+4.000%,06/02/28.... 2,575,000 2,585,241 Cornerstone OnDemand, Inc. Project Ruby Ultimate Parent Corp. Term Loan B, 3.341%, 1M LIBOR + 3.250%, 04/22/27 ..... 3,058,005 3,060,463 Term Loan, 4.000%, 1M LIBOR + 3.250%, 03/03/28 ...... 1,072,313 1,071,259 Cvent, Inc. Proofpoint, Inc. 1st Lien Term Loan, 3.854%, 1M LIBOR + 3.750%, 11/29/24 . . . 994,859 983,666 1st Lien Term Loan, 06/09/28 (b) ...... 2,650,000 2,638,820 E2open, LLC Rackspace Hosting, Inc. Term Loan B, 4.000%, 3M LIBOR + 3.500%, 02/04/28 ..... 1,175,000 1,177,571 Term Loan, 3.500%, 3M LIBOR + 2.750%, 02/15/28 ...... 1,371,563 1,366,205 ECI Macola Max Holdings LLC Realpage, Inc. Term Loan, 4.500%, 3M LIBOR + 3.750%, 11/09/27 ...... 1,044,750 1,048,668 1st Lien Term Loan, 3.750%, 1M LIBOR + 3.250%, 04/24/28 . . . 2,175,000 2,171,466 Epicor Software Corp. Renaissance Holding Corp. Term Loan, 4.000%, 1M LIBOR + 3.250%, 07/30/27 ...... 6,284,060 6,282,634 EverCommerce, Inc. 1st Lien Term Loan, 3.343%, 1M LIBOR + 3.250%, 05/30/25 . . . 899,158 891,129 Term Loan B, 06/14/28 (b) ...... 275,000 275,687 Seattle Spinco, Inc. Finastra USA, Inc. Term Loan B3, 2.854%, 1M LIBOR + 2.750%, 06/21/24 .... 2,887,036 2,859,970 1st Lien Term Loan, 4.500%, 6M LIBOR + 3.500%, 06/13/24 . . . 3,342,836 3,294,000 Signify Health LLC First Advantage Holdings LLC Term Loan B, 06/16/28 (b) ...... 350,000 349,562 Term Loan B, 3.343%, 1M LIBOR + 3.000%, 01/31/27 ..... 569,493 567,500 SkillSoft Corp. GlobalLogic Holdings, Inc. 1st Lien Term Loan, 8.500%, 3M LIBOR + 7.500%, 12/27/24 . . . 344,968 348,849 1st Lien Term Loan, 2.854%, 1M LIBOR + 2.750%, 08/01/25 . . . 1,364,056 1,362,351 2nd Lien Term Loan, 8.500%, 3M LIBOR + Incremental Term Loan B2, 4.500%, 1M LIBOR + 7.500%, 04/27/25 ...... 1,139,704 1,142,553 3.750%, 09/14/27 ...... 719,563 721,699 Skopima Merger Sub, Inc. Grab Holdings, Inc. Term Loan B, 4.500%, 1M LIBOR + 4.000%, 04/30/28 ..... 1,050,000 1,050,000 Term Loan B, 5.500%, 6M LIBOR + 4.500%, 01/29/26 ..... 2,119,688 2,162,081 SolarWinds Holdings, Inc. Greeneden U.S., Holdings II LLC Term Loan B, 2.854%, 1M LIBOR + 2.750%, 02/05/24 ..... 3,539,278 3,501,673 USDTermLoanB,4.750%,1MLIBOR+4.000%,12/01/27.... 798,000 800,850 Sophia L.P. Hyland Software, Inc. 1st Lien Term Loan, 4.500%, 3M LIBOR + 3.750%, 10/07/27 . . . 398,000 398,829 Term Loan 3, 4.250%, 1M LIBOR + 3.500%, 07/01/24 ..... 8,706,429 8,735,195 SS&C Technologies, Inc. Informatica LLC Term Loan B3, 1.854%, 1M LIBOR + 1.750%, 04/16/25 .... 817,904 809,555 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 02/25/27 ..... 5,505,313 5,480,461 Term Loan B4, 1.854%, 1M LIBOR + 1.750%, 04/16/25 .... 621,413 615,070 Inovalon Holdings, Inc. SurveyMonkey, Inc. Term Loan B1, 2.875%, 1M LIBOR + 2.750%, 04/02/25 .... 1,059,702 1,054,971 Term Loan B, 3.850%, 1W LIBOR + 3.750%, 10/10/25 ..... 1,141,067 1,136,788 Ivanti Software, Inc. Symplr Software, Inc. Add On Term Loan B, 4.750%, 3M LIBOR + Term Loan, 5.250%, 3M LIBOR + 4.500%, 12/22/27 ...... 723,188 724,815 4.000%, 12/01/27 ...... 673,313 671,419 Syncsort, Inc. Term Loan B, 5.750%, 3M LIBOR + 4.750%, 12/01/27 ..... 2,394,000 2,399,985 1st Lien Term Loan, 5.000%, 3M LIBOR + 4.250%, 04/24/28 . . . 900,000 899,100 Liftoff Mobile, Inc. Thoughtworks, Inc. Term Loan, 4.250%, 3M LIBOR + 3.500%, 03/17/28 ...... 472,625 472,330 Term Loan B, 3.750%, 1M LIBOR + 3.250%, 03/23/28 ..... 399,000 399,798 MA FinanceCo. LLC Tibco Software, Inc. Term Loan B, 5.250%, 3M LIBOR + 4.250%, 06/05/25 ..... 1,668,125 1,692,800 Term Loan B3, 3.860%, 1M LIBOR + 3.750%, 06/30/26 .... 3,918,909 3,909,927 Term Loan B3, 2.854%, 1M LIBOR + 2.750%, 06/21/24 .... 427,503 423,495 Ultimate Software Group, Inc. (The) Marcel LUX IV Sarl Incremental Term Loan, 4.000%, 3M LIBOR + Term Loan B1, 3.354%, 1M LIBOR + 3.250%, 03/15/26 .... 980,000 978,775 3.250%, 05/04/26 ...... 5,065,048 5,074,544 USD Term Loan B, 4.750%, 1M LIBOR + 4.000%, 12/31/27 . . 94,905 95,024 Term Loan B, 3.854%, 1M LIBOR + 3.750%, 05/04/26 ..... 1,449,188 1,451,703 Maverick Bidco, Inc. Veritas U.S., Inc. Term Loan, 4.500%, 3M LIBOR + 3.750%, 04/28/28 ...... 925,000 926,619 USDTermLoanB,6.000%,3MLIBOR+5.000%,09/01/25.... 2,382,030 2,403,468 MedAssets Software Intermediate Holdings, Inc. 1st Lien Term Loan, 4.500%, 6M LIBOR + 3.750%, 01/28/28 . . . 425,000 425,266

See accompanying notes to financial statements. BHFTI-71 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (a)—(Continued) Corporate Bonds & Notes—3.7%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Software—(Continued) Aerospace/Defense—0.4% VS Buyer, LLC TransDigm, Inc. Term Loan B, 3.104%, 1M LIBOR + 3.000%, 02/28/27 ..... 2,305,265 $ 2,296,980 6.250%, 03/15/26 (144A) ...... 3,000,000 $ 3,165,000 125,026,233 Airlines—0.5% Telecommunications—3.9% American Airlines, Inc./AAdvantage Loyalty IP, Ltd Altice France S.A. 5.500%, 04/20/26 (144A) ...... 2,000,000 2,117,500 Term Loan B13, 4.155%, 3M LIBOR + 4.000%, 08/14/26 .... 1,241,753 1,241,494 5.750%, 04/20/29 (144A) ...... 1,500,000 1,621,875 Avaya, Inc. 3,739,375 Term Loan B2, 4.073%, 1M LIBOR + 4.000%, 12/15/27 .... 200,000 200,938 CenturyLink, Inc. Auto Parts & Equipment—0.2% Term Loan B, 2.354%, 1M LIBOR + 2.250%, 03/15/27 ..... 6,304,000 6,229,632 Clarios Global L.P. Colorado Buyer, Inc. 6.750%, 05/15/25 (144A) ...... 225,000 239,620 Term Loan B, 4.000%, 6M LIBOR + 3.000%, 05/01/24 ..... 1,464,000 1,430,450 Clarios Global L.P. / Clarios U.S. Finance Co. CommScope, Inc. 6.250%, 05/15/26 (144A) ...... 1,215,000 1,294,352 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/06/26 ..... 1,522,875 1,518,116 1,533,972 Delta TopCo, Inc. Term Loan B, 4.500%, 3M LIBOR + 3.750%, 12/01/27 ..... 1,350,000 1,354,641 Commercial Services—0.3% Digicel International Finance, Ltd. Allied Universal Holdco LLC / Allied Universal Finance Corp. Term Loan B, 3.430%, 6M LIBOR + 3.250%, 05/28/24 ..... 1,467,825 1,412,782 6.625%, 07/15/26 (144A) ...... 725,000 768,667 Intelsat Jackson Holdings S.A. Garda World Security Corp. Term Loan, 6.500%, 3M LIBOR + 5.500%, 07/13/22 ...... 474,019 479,944 4.625%, 02/15/27 (144A) ...... 850,000 854,250 Term Loan B4, 8.750%, PRIME + 5.500%, 01/02/24 ...... 1,600,000 1,634,200 Prime Security Services Borrower LLC / Prime Finance, Inc. IPC Corp. 5.250%, 04/15/24 (144A) ...... 625,000 669,706 Term Loan B, 5.500%, 3M LIBOR + 4.500%, 08/06/21 (e) . . . 880,630 733,564 Sabre GLBL, Inc. Level 3 Financing, Inc. 9.250%, 04/15/25 (144A) ...... 300,000 356,649 Term Loan B, 1.854%, 1M LIBOR + 1.750%, 03/01/27 ..... 1,720,372 1,697,792 LogMeIn, Inc. 2,649,272 Term Loan B, 4.827%, 1M LIBOR + 4.750%, 08/31/27 ..... 1,765,843 1,764,555 Numericable Group S.A. Distribution/Wholesale—0.0% Term Loan B11, 2.936%, 3M LIBOR + 2.750%, 07/31/25 .... 1,728,000 1,704,420 American Builders & Contractors Supply Co., Inc. Onvoy LLC 4.000%, 01/15/28 (144A) ...... 275,000 281,795 1st Lien Term Loan B, 5.500%, 1M LIBOR + 4.500%, 02/10/24 ...... 798,497 798,955 Diversified Financial Services—0.1% Plantronics, Inc. AG Issuer LLC Term Loan B, 2.593%, 1M LIBOR + 2.500%, 07/02/25 ..... 1,499,356 1,476,240 6.250%, 03/01/28 (144A) ...... 425,000 447,814 SBA Senior Finance II LLC Term Loan B, 1.860%, 1M LIBOR + 1.750%, 04/11/25 ..... 1,843,909 1,831,002 Electric—0.3% Telenet Financing USD LLC Calpine Corp. Term Loan AR, 2.073%, 1M LIBOR + 2.000%, 04/30/28 .... 3,500,000 3,454,881 4.500%, 02/15/28 (144A) ...... 300,000 306,000 West Corp. 5.250%, 06/01/26 (144A) ...... 2,000,000 2,057,500 Term Loan, 5.000%, 3M LIBOR + 4.000%, 10/10/24 ...... 1,421,880 1,393,569 2,363,500 Term Loan B1, 4.500%, 3M LIBOR + 3.500%, 10/10/24 .... 259,386 252,037 Zayo Group Holdings, Inc. Entertainment—0.1% Term Loan, 3.104%, 1M LIBOR + 3.000%, 03/09/27 ...... 1,126,546 1,115,515 SeaWorld Parks and Entertainment., Inc. 31,724,727 8.750%, 05/01/25 (144A) ...... 250,000 270,850 Six Flags Theme Parks, Inc. Transportation—0.4% 7.000%, 07/01/25 (144A) ...... 250,000 269,425 Kenan Advantage Group, Inc. 540,275 Term Loan B1, 4.500%, 1M LIBOR + 3.750%, 03/24/26 .... 2,313,375 2,319,737 XPO Logistics, Inc. Environmental Control—0.1% Term Loan B, 1.881%, 3M LIBOR + 1.750%, 02/24/25 ..... 575,000 573,072 GFL Environmental, Inc. 2,892,809 4.250%, 06/01/25 (144A) ...... 625,000 650,963 Total Floating Rate Loans (Cost $766,278,077) ...... 759,347,691

See accompanying notes to financial statements. BHFTI-72 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued) Common Stocks—0.6%

Principal Security Description Amount* Value Security Description Shares Value

Food—0.1% Commercial Services—0.1% Del Monte Foods, Inc. IAP Worldwide Services LLC † (e) (f) (g) (h) ...... 44 $ 496,790 11.875%, 05/15/25 (144A) ...... 975,000 $ 1,111,500 Diversified Consumer Services—0.0% Machinery-Diversified—0.1% RDV Resources, Inc. - Class A (g) (h) ...... 21,140 2,114 Clark Equipment Co. 5.875%, 06/01/25 (144A) ...... 125,000 132,187 Electric Utilities—0.0% TK Elevator U.S. Newco, Inc. Longview Intermediate Holdings Co. LLC (e) (f) (g) (h) ...... 39,089 311,539 5.250%, 07/15/27 (144A) ...... 500,000 526,875 659,062 Energy Equipment & Services—0.0% McDermott International, Inc. (g) (h) ...... 117,431 57,541 Media—0.4% Diamond Sports Group LLC / Diamond Sports Finance Co. Food Products—0.0% 5.375%, 08/15/26 (144A) ...... 550,000 356,125 CM Acquisition Co. (g) (h) ...... 3,472 208,320 iHeartCommunications, Inc. 4.750%, 01/15/28 (144A) ...... 250,000 257,188 Health Care Equipment & Supplies—0.1% 5.250%, 08/15/27 (144A) ...... 200,000 209,080 Akorn Holding Co. LLC (g) (h) ...... 56,220 850,328 6.375%, 05/01/26 ...... 105,163 111,867 8.375%, 05/01/27 ...... 190,609 204,190 Household Products—0.0% Virgin Media Secured Finance plc LG Parent Holding Co. (g) (h) ...... 9,472 17,760 4.500%, 08/15/30 (144A) ...... 800,000 806,000 Ziggo B.V. Leisure Products—0.0% 5.500%, 01/15/27 (144A) ...... 1,597,000 1,659,283 Cineworld Group plc (h) ...... 121,458 84,678 3,603,733 Media—0.3% Clear Channel Outdoor Holdings, Inc. (g) (h) ...... 43,727 115,439 Oil & Gas—0.2% Cumulus Media, Inc. - Class A (g) (h) ...... 40,548 594,028 CITGO Petroleum Corp. Global Eagle Entertainment (e) (f) (g) (h) ...... 17,940 367,411 7.000%, 06/15/25 (144A) ...... 1,275,000 1,328,639 iHeartMedia, Inc. - Class A (g) (h) ...... 18,596 500,791

Pharmaceuticals—0.2% 1,577,669 Endo Luxembourg Finance Co. I S.a.r.l. 6.125%, 04/01/29 (144A) ...... 1,750,000 1,715,000 Metals & Mining—0.0% ACNR Holdings, Inc. (g) (h) ...... 3,147 59,006 Real Estate—0.1% AFG Holdings, Inc. (e) (f) (g) (h) ...... 24,746 273,444 Cushman and Wakefield U.S. Borrower LLC 332,450 6.750%, 05/15/28 (144A) ...... 375,000 404,423 Oil, Gas & Consumable Fuels—0.0% Software—0.1% Fieldwood Energy LLC (e) (f) (g) (h) ...... 1,397 0 Boxer Parent Co., Inc. Fieldwood Energy LLC (Rights Offering Shares) (e) (f) (g) (h) .... 6,048 0 7.125%, 10/02/25 (144A) ...... 500,000 535,000 Paragon Offshore Finance Co. - Class A (e) (f) (g) (h) ...... 1,527 0 Paragon Offshore Finance Co. - Class B (e) (f) (g) (h) ...... 764 0 Telecommunications—0.5% Sunrise Oil & Gas, Inc. - Class A (g) (h) ...... 12,446 1,245 Altice France S.A. 1,245 5.500%, 01/15/28 (144A) ...... 475,000 492,907 7.375%, 05/01/26 (144A) ...... 220,000 228,785 Software—0.1% CommScope, Inc. Skillsoft Corp. † (g) (h) ...... 66,881 658,778 6.000%, 03/01/26 (144A) ...... 2,000,000 2,111,400 Lumen Technologies, Inc. Specialty Retail—0.0% 4.000%, 02/15/27 (144A) ...... 1,500,000 1,530,000 David’s Bridal, Inc. (e) (f) (g) (h) ...... 18,015 0 4,363,092 Philips Pet Holding Corp. (e) (f) (g) (h) ...... 62 24,262 Total Corporate Bonds & Notes 24,262 (Cost $28,175,593) ...... 29,092,415 Total Common Stocks (Cost $5,445,133) ...... 4,623,474

See accompanying notes to financial statements. BHFTI-73 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Preferred Stocks—0.1%

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal † Restricted securities are not registered under the Securities Act of 1933 and are subject Security Description Amount* Value to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Household Products—0.0% Disposal of these securities may involve time-consuming negotiations and prompt sale LG Parent Holding Co. (g) (h) ...... 1,428 $ 125,621 at an acceptable price may be difficult. As of June 30, 2021, the market value of restricted securities was $1,155,568, which is 0.1% of net assets. See details shown in Metals & Mining—0.1% the Restricted Securities table that follows. ACNR Holdings, Inc. (h) ...... 1,486 152,315 (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, Specialty Retail—0.0% whether as a contractual requirement or at their election, cannot be predicted with David’s Bridal, Inc. accuracy. As a result, the actual remaining maturity may be substantially less than the Series A, (e) (f) (g) ...... 501 0 stated maturities shown. However, Senior Loans will generally have an expected Series B, (e) (f) (g) ...... 2,042 0 average life of approximately two to four years. Senior Loans typically have rates of DBI Investors, Inc. Series A (e) (f) (g) ...... 852 0 interest which are determined periodically by reference to a base lending rate, plus a 0 spread. These base rates are primarily the London Interbank Offered Rate and secondarily, the prime rate offered by one or more major United States banks. Base Total Preferred Stocks lending rates may be subject to a floor, or a minimum rate. (Cost $240,264) ...... 277,936 (b) This loan will settle after June 30, 2021, at which time the interest rate will be determined. Warrants—0.0% (c) Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain credit agreements for which all or a portion may be unfunded. The Portfolio is obligated Healthcare-Services—0.0% to fund these commitments at the borrower’s discretion. Alliance Healthcare Services, Inc. (1st Lien Post Capital), (d) Non-income producing; security is in default and/or issuer is in bankruptcy. Expires 11/15/21 (e) (f) ...... 1,162 0 (e) Security was valued in good faith under procedures approved by the Board of Trustees. Alliance Healthcare Services, Inc. (1st Lien Pre Capital), As of June 30, 2021, these securities represent 0.4% of net assets. Expires 11/15/21 (e) (f) ...... 21 21,168 (f) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. 21,168 (g) Security was acquired in connection with a restructuring of a senior loan and may be subject to restrictions on resale. Retail—0.0% (h) Non-income producing security. David’s Bridal, Inc. (e) (f) (g) (h) ...... 3,478 0 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Total Warrants These securities may be resold in transactions exempt from registration, normally to (Cost $0) ...... 21,168 qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $28,776,358, which is 3.6% of net assets. Short-Term Investment—4.4%

Repurchase Agreement—4.4% Fixed Income Clearing Corp. Repurchase Agreement dated 06/30/21 at 0.000%, due on 07/01/21 with a maturity value of $35,507,733; collateralized by U.S. Treasury Notes with rates ranging from 0.125% - 0.625%, maturity dates ranging from 04/15/22 - 01/15/24, and an aggregate market value of $36,218,086...... 35,507,733 35,507,733 Total Short-Term Investments (Cost $35,507,733) ...... 35,507,733 Total Investments—103.3% (Cost $835,646,800) ...... 828,870,417 Unfunded Loan Commitments—(0.2)% (Cost $(1,748,727)) ...... (1,748,727) Net Investments—103.1% (Cost $833,898,073) ...... 827,121,690 Other assets and liabilities (net)—(3.1)% ...... (24,390,469) Net Assets—100.0% ...... $802,731,221

See accompanying notes to financial statements. BHFTI-74 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Acquisition Restricted Securities Date Shares Cost Value IAP Worldwide Services LLC ...... 07/18/14-07/24/14 44 $ 52,138 $ 496,790 Skillsoft Corp...... 06/30/21 66,881 668,810 658,778 $1,155,568

Glossary of Abbreviations

Index Abbreviations (LIBOR)— London Interbank Offered Rate (PRIME)— U.S. Federal Reserve Prime Rate

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Floating Rate Loans Advertising ...... $— $ 3,913,026 $— $ 3,913,026 Aerospace/Defense ...... — 13,368,803 — 13,368,803 Airlines ...... — 3,827,663 — 3,827,663 Auto Manufacturers ...... — 549,886 — 549,886 Auto Parts & Equipment ...... — 20,527,547 — 20,527,547 Beverages ...... — 3,028,092 — 3,028,092 Building Materials ...... — 14,866,640 — 14,866,640 Chemicals ...... — 30,023,544 — 30,023,544 Coal ...... — 772,840 — 772,840 Commercial Services (Less Unfunded Loan Commitments of $322,045) ...... — 57,491,594 — 57,491,594 Computers (Less Unfunded Loan Commitments of $675,097) ...... — 15,871,536 — 15,871,536 Cosmetics/Personal Care ...... — 4,637,742 — 4,637,742 Distribution/Wholesale ...... — 6,725,333 — 6,725,333 Diversified Financial Services ...... — 40,303,832 — 40,303,832 Electric ...... — 6,364,000 — 6,364,000 Electrical Components & Equipment ...... — 990,712 — 990,712 Electronics ...... — 2,471,934 — 2,471,934 Engineering & Construction ...... — 5,250,830 — 5,250,830 Entertainment ...... — 17,422,254 — 17,422,254 Environmental Control ...... — 9,336,559 — 9,336,559 Food ...... — 14,903,032 — 14,903,032 Food Service ...... — 1,786,240 — 1,786,240 Forest Products & Paper ...... — 1,620,351 — 1,620,351 Gas...... — 909,049 — 909,049 Hand/Machine Tools ...... — 3,196,791 — 3,196,791 Healthcare-Products ...... — 9,544,940 — 9,544,940

See accompanying notes to financial statements. BHFTI-75 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Healthcare-Services (Less Unfunded Loan Commitments of $88,096) ...... $ — $ 38,815,948 $ — $ 38,815,948 Holding Companies-Diversified ...... — 541,421 — 541,421 Home Builders ...... — 929,870 — 929,870 Home Furnishings ...... — 1,502,173 — 1,502,173 Household Products/Wares ...... — 1,162,445 — 1,162,445 Housewares ...... — 538,259 — 538,259 Insurance ...... — 27,732,597 — 27,732,597 Internet ...... — 22,536,421 — 22,536,421 Investment Companies ...... — 1,710,930 — 1,710,930 Iron/Steel ...... — 1,529,019 — 1,529,019 Leisure Time ...... — 10,771,637 — 10,771,637 Lodging ...... — 11,061,291 — 11,061,291 Machinery-Construction & Mining ...... — 3,969,558 — 3,969,558 Machinery-Diversified ...... — 13,126,241 — 13,126,241 Media ...... — 40,248,251 — 40,248,251 Metal Fabricate/Hardware (Less Unfunded Loan Commitments of $10,532) ...... — 10,532,504 — 10,532,504 Mining ...... — 336,579 — 336,579 Miscellaneous Manufacturing ...... — 11,483,278 — 11,483,278 Oil & Gas (Less Unfunded Loan Commitments of $169,715) ...... — 7,164,043 — 7,164,043 Oil & Gas Services ...... — 428,358 — 428,358 Packaging & Containers (Less Unfunded Loan Commitments of $102,066) ...... — 16,078,893 — 16,078,893 Pharmaceuticals ...... — 38,993,296 — 38,993,296 Pipelines ...... — 5,163,018 — 5,163,018 Real Estate ...... — 6,335,181 — 6,335,181 Real Estate Investment Trusts ...... — 3,975,578 — 3,975,578 Retail ...... — 27,228,768 696,689 27,925,457 Semiconductors ...... — 4,039,355 — 4,039,355 Software (Less Unfunded Loan Commitments of $381,176) ...... — 124,645,057 — 124,645,057 Telecommunications ...... — 31,724,727 — 31,724,727 Transportation ...... — 2,892,809 — 2,892,809 Total Floating Rate Loans (Less Unfunded Loan Commitments of $1,748,727) ...... — 756,902,275 696,689 757,598,964 Total Corporate Bonds & Notes* ...... — 29,092,415 — 29,092,415 Common Stocks Commercial Services ...... — — 496,790 496,790 Diversified Consumer Services ...... — 2,114 — 2,114 Electric Utilities ...... — — 311,539 311,539 Energy Equipment & Services ...... 57,541 — — 57,541 Food Products ...... — 208,320 — 208,320 Health Care Equipment & Supplies ...... — 850,328 — 850,328 Household Products ...... — 17,760 — 17,760 Leisure Products ...... — 84,678 — 84,678 Media ...... 1,210,258 — 367,411 1,577,669 Metals & Mining ...... — 59,006 273,444 332,450 Oil, Gas & Consumable Fuels ...... — 1,245 0 1,245 Software ...... — 658,778 — 658,778 Specialty Retail ...... — — 24,262 24,262 Total Common Stocks ...... 1,267,799 1,882,229 1,473,446 4,623,474

See accompanying notes to financial statements. BHFTI-76 Brighthouse Funds Trust I Brighthouse/Eaton Vance Floating Rate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Preferred Stocks Household Products ...... $ 125,621 $ — $ — $ 125,621 Metals & Mining ...... 152,315 — — 152,315 Specialty Retail ...... — — 0 0 Total Preferred Stocks ...... 277,936 — 0 277,936 Total Warrants* ...... — — 21,168 21,168 Total Short-Term Investment* ...... — 35,507,733 — 35,507,733 Total Net Investments ...... $1,545,735 $823,384,652 $2,191,303 $827,121,690

* 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 June 30, 2021 is not presented.

During the period ended June 30, 2021, a transfer from Level 2 to Level 3 in the amount of $6,551 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.

During the period ended June 30, 2021, a transfer from Level 3 to 2 in the amount of $1,008,115 was due to the initiation of trading activity which resulted in the availability of significant observable inputs.

See accompanying notes to financial statements. BHFTI-77 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—42.1% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—7.9% Agency Sponsored Mortgage-Backed—(Continued) Fannie Mae 15 Yr. Pool Fannie Mae ARM Pool 4.500%, 09/01/24 ...... 151,185 $ 159,043 2.372%, 12M LIBOR + 1.905%, 11/01/35 (a) ...... 348,812 $ 369,882 4.500%, 03/01/25 ...... 406,890 432,620 2.385%, 1Y H15 + 2.229%, 09/01/33 (a) ...... 3,323 3,344 Fannie Mae ARM Pool 2.395%, 1Y H15 + 2.270%, 01/01/32 (a) ...... 6,984 6,983 1.273%, 6M LIBOR + 1.019%, 11/01/33 (a) ...... 683 678 2.395%, 12M LIBOR + 1.645%, 09/01/39 (a) ...... 2,029 2,036 1.323%, 6M LIBOR + 1.070%, 11/01/33 (a) ...... 3,044 3,063 2.400%, 1Y H15 + 2.275%, 06/01/35 (a) ...... 40,077 40,006 1.415%, 6M LIBOR + 1.165%, 03/01/28 (a) ...... 3,594 3,612 2.410%, 1Y H15 + 2.285%, 02/01/35 (a) ...... 29,553 29,530 1.651%, 6M LIBOR + 1.401%, 03/01/35 (a) ...... 12,366 12,775 2.412%, 12M LIBOR + 1.502%, 07/01/33 (a) ...... 28,305 28,415 1.663%, 6M LIBOR + 1.413%, 11/01/34 (a) ...... 3,969 4,010 2.419%, 12M LIBOR + 1.634%, 08/01/37 (a) ...... 7,398 7,804 1.665%, 6M LIBOR + 1.415%, 06/01/32 (a) ...... 7,877 7,921 2.451%, 1Y H15 + 2.223%, 03/01/38 (a) ...... 7,419 7,507 1.680%, 6M LIBOR + 1.430%, 02/01/36 (a) ...... 25,539 26,454 2.454%, 12M LIBOR + 1.690%, 11/01/35 (a) ...... 14,917 15,131 1.684%, 6M LIBOR + 1.434%, 12/01/32 (a) ...... 170,528 171,784 2.464%, 1Y H15 + 2.236%, 09/01/36 (a) ...... 337 338 1.788%, 6M LIBOR + 1.538%, 09/01/35 (a) ...... 4,760 4,812 2.467%, 1Y H15 + 2.278%, 01/01/32 (a) ...... 1,786 1,836 1.795%, 6M LIBOR + 1.545%, 12/01/34 (a) ...... 25,197 26,173 2.470%, 12M LIBOR + 1.720%, 08/01/35 (a) ...... 25,110 25,341 1.795%, 12M LIBOR + 1.420%, 03/01/36 (a) ...... 4,816 4,826 2.500%, 6M LIBOR + 2.250%, 10/01/33 (a) ...... 18,396 18,564 1.800%, 1Y H15 + 1.675%, 11/01/32 (a) ...... 8,428 8,417 2.524%, 1Y H15 + 2.149%, 08/01/33 (a) ...... 41,297 41,196 1.820%, 6M LIBOR + 1.570%, 11/01/35 (a) ...... 34,268 35,657 2.525%, 6M LIBOR + 2.275%, 08/01/32 (a) ...... 22,829 22,957 1.835%, 6M LIBOR + 1.585%, 03/01/36 (a) ...... 78,103 81,364 2.550%, 1Y H15 + 2.300%, 09/01/32 (a) ...... 2,190 2,197 1.840%, 12M LIBOR + 1.625%, 03/01/33 (a) ...... 21,799 22,017 2.556%, 1Y H15 + 2.401%, 09/01/33 (a) ...... 757 759 1.870%, 6M LIBOR + 1.620%, 11/01/32 (a) ...... 20,228 20,307 2.561%, 1Y H15 + 2.437%, 04/01/36 (a) ...... 2,353 2,391 1.895%, 1Y H15 + 1.770%, 09/01/37 (a) ...... 2,929 2,949 2.581%, 1Y H15 + 2.360%, 11/01/34 (a) ...... 1,203,530 1,281,031 1.900%, 12M LIBOR + 1.650%, 05/01/33 (a) ...... 7,790 7,831 2.598%, 1Y H15 + 2.223%, 07/01/35 (a) ...... 7,745 8,042 1.905%, 12M LIBOR + 1.530%, 02/01/33 (a) ...... 29,978 30,011 2.650%, 1Y H15 + 2.525%, 05/01/32 (a) ...... 1,121 1,124 1.908%, 6M LIBOR + 1.658%, 03/01/37 (a) ...... 3,460 3,611 2.654%, 1Y H15 + 2.290%, 08/01/32 (a) ...... 6,965 6,962 1.925%, 12M LIBOR + 1.550%, 02/01/44 (a) ...... 27,242 27,225 2.655%, 1Y H15 + 2.280%, 07/01/32 (a) ...... 2,169 2,178 1.960%, 12M LIBOR + 1.585%, 02/01/36 (a) ...... 10,373 10,477 2.663%, 1Y H15 + 2.162%, 07/01/33 (a) ...... 20,352 20,322 1.978%, 6M LIBOR + 1.716%, 04/01/36 (a) ...... 19,944 20,784 2.686%, 1Y H15 + 2.502%, 07/01/28 (a) ...... 1,949 1,953 2.000%, 1Y H15 + 1.875%, 02/01/25 (a) ...... 25,043 25,050 2.819%, 1Y H15 + 2.270%, 01/01/29 (a) ...... 7,990 8,010 2.000%, 12M LIBOR + 1.375%, 07/01/33 (a) ...... 12,245 12,346 2.938%, 1Y H15 + 2.203%, 03/01/30 (a) ...... 573 575 2.000%, 12M LIBOR + 1.750%, 04/01/34 (a) ...... 32,655 32,840 3.406%, 1Y H15 + 2.270%, 08/01/30 (a) ...... 10,753 10,781 2.010%, 6M LIBOR + 1.761%, 06/01/28 (a) ...... 1,573 1,589 Fannie Mae Connecticut Avenue Securities (CMO) 2.088%, 12M LIBOR + 1.713%, 02/01/32 (a) ...... 60,073 60,375 2.692%, 1M LIBOR + 2.600%, 05/25/24 (a) ...... 2,594,018 2,609,064 2.113%, 12M LIBOR + 1.810%, 04/01/40 (a) ...... 2,078 2,088 2.992%, 1M LIBOR + 2.900%, 07/25/24 (a) ...... 1,471,715 1,486,586 2.123%, 1Y H15 + 1.998%, 10/01/32 (a) ...... 10,304 10,294 3.092%, 1M LIBOR + 3.000%, 07/25/24 (a) ...... 2,644,351 2,664,357 2.126%, 1Y H15 + 1.958%, 08/01/29 (a) ...... 1,328 1,330 4.092%, 1M LIBOR + 4.000%, 05/25/25 (a) ...... 2,176,629 2,218,716 2.126%, 12M LIBOR + 1.712%, 09/01/35 (a) ...... 1,244,678 1,314,317 4.342%, 1M LIBOR + 4.250%, 01/25/29 (a) ...... 1,220,787 1,274,237 2.137%, 12M LIBOR + 1.713%, 11/01/36 (a) ...... 489 507 4.342%, 1M LIBOR + 4.250%, 04/25/29 (a) ...... 969,558 1,007,863 2.153%, 12M LIBOR + 1.778%, 12/01/35 (a) ...... 113,561 113,612 4.392%, 1M LIBOR + 4.300%, 02/25/25 (a) ...... 1,989,747 2,036,603 2.155%, 12M LIBOR + 1.655%, 08/01/34 (a) ...... 957 958 4.442%, 1M LIBOR + 4.350%, 05/25/29 (a) ...... 2,101,520 2,202,847 2.183%, 1Y H15 + 2.010%, 06/01/25 (a) ...... 21,835 21,918 4.542%, 1M LIBOR + 4.450%, 01/25/29 (a) ...... 1,466,855 1,535,883 2.185%, 12M LIBOR + 1.810%, 04/01/35 (a) ...... 188,093 195,332 4.642%, 1M LIBOR + 4.550%, 02/25/25 (a) ...... 165,271 166,260 2.190%, 12M LIBOR + 1.815%, 03/01/36 (a) ...... 9,753 9,854 4.992%, 1M LIBOR + 4.900%, 11/25/24 (a) ...... 2,290,747 2,368,438 2.192%, 12M LIBOR + 1.613%, 01/01/36 (a) ...... 24,387 25,437 5.092%, 1M LIBOR + 5.000%, 11/25/24 (a) ...... 766,918 787,095 2.198%, 12M LIBOR + 1.698%, 10/01/33 (a) ...... 27,199 27,454 5.092%, 1M LIBOR + 5.000%, 07/25/25 (a) ...... 2,202,893 2,256,309 2.208%, 12M LIBOR + 1.833%, 08/01/32 (a) ...... 44,840 45,033 5.342%, 1M LIBOR + 5.250%, 10/25/23 (a) ...... 1,793,080 1,875,708 2.224%, 12M LIBOR + 1.671%, 11/01/36 (a) ...... 803,932 847,920 7.042%, 1M LIBOR + 6.950%, 08/25/28 (a) ...... 1,593,530 1,689,367 2.230%, 1Y H15 + 2.105%, 07/01/25 (a) ...... 100 100 Freddie Mac REMICS (CMO) 2.254%, 12M LIBOR + 1.879%, 03/01/36 (a) ...... 23,137 23,415 3.500%, 03/15/43 ...... 131,004 133,423 2.277%, 1Y H15 + 2.152%, 12/01/33 (a) ...... 39,243 39,612 Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 2.279%, 1Y H15 + 2.082%, 07/01/33 (a) ...... 17,683 17,775 1.442%, 1M LIBOR + 1.350%, 03/25/29 (a) ...... 10,607 10,607 2.287%, 12M LIBOR + 1.787%, 10/01/36 (a) ...... 1,925 2,041 2.442%, 1M LIBOR + 2.350%, 04/25/30 (a) ...... 2,904,842 2,969,967 2.300%, 1Y H15 + 2.175%, 06/01/30 (a) ...... 6,952 6,969 3.692%, 1M LIBOR + 3.600%, 04/25/24 (a) ...... 922,432 936,329 2.323%, 12M LIBOR + 1.709%, 09/01/37 (a) ...... 973 991 3.842%, 1M LIBOR + 3.750%, 09/25/24 (a) ...... 3,514,914 3,594,217 2.347%, 1Y H15 + 2.193%, 04/01/27 (a) ...... 931 937 4.092%, 1M LIBOR + 4.000%, 08/25/24 (a) ...... 125,496 128,016 2.356%, 6M LIBOR + 2.106%, 09/01/33 (a) ...... 21,498 21,564 4.192%, 1M LIBOR + 4.100%, 08/25/24 (a) ...... 791,442 800,364 2.358%, 1Y H15 + 2.177%, 11/01/35 (a) ...... 1,117,841 1,183,743 4.642%, 1M LIBOR + 4.550%, 10/25/24 (a) ...... 1,959,962 1,994,485

See accompanying notes to financial statements. BHFTI-78 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—(Continued) Airlines—(Continued) Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) Delta Air Lines, Inc. / SkyMiles IP, Ltd. 4.742%, 1M LIBOR + 4.650%, 10/25/28 (a) ...... 3,141,026 $ 3,280,769 4.500%, 10/20/25 (144A) ...... 4,700,000 $ 5,050,717 4.792%, 1M LIBOR + 4.700%, 03/25/28 (a) ...... 1,608,599 1,659,613 Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles 4.842%, 1M LIBOR + 4.750%, 10/25/24 (a) ...... 223,655 225,351 Loyalty, Ltd. 5.242%, 1M LIBOR + 5.150%, 11/25/28 (a) ...... 2,394,166 2,507,254 5.750%, 01/20/26 (144A) ...... 800,000 858,888 5.642%, 1M LIBOR + 5.550%, 07/25/28 (a) ...... 6,031,214 6,318,596 United Airlines Pass-Through Trust Uniform Mortgage-Backed Securities 15 Yr. Pool 4.875%, 01/15/26 ...... 194,100 205,820 2.000%, TBA (b) ...... 21,631,000 22,310,771 United Airlines, Inc. 4.375%, 04/15/26 (144A) ...... 100,000 103,518 80,190,112 7,807,068 U.S. Treasury—34.2% U.S. Treasury Notes Auto Manufacturers—0.0% 1.375%, 06/30/23 ...... 30,000,000 30,673,828 Navistar International Corp. 1.500%, 02/28/23 ...... 29,000,000 29,624,180 9.500%, 05/01/25 (144A) (c) ...... 400,000 428,800 1.625%, 11/15/22 (c) ...... 28,000,000 28,564,375 1.625%, 04/30/23 ...... 32,000,000 32,810,000 Banks—5.6% 1.625%, 05/31/23 ...... 18,000,000 18,475,312 Akbank T.A.S. 1.750%, 03/31/22 ...... 19,000,000 19,237,500 5.125%, 03/31/25 (144A) ...... 700,000 703,500 1.750%, 05/15/22 (c) (d) ...... 10,000,000 10,145,313 Bank of America Corp. 1.875%, 08/31/22 ...... 10,000,000 10,202,344 3.004%, 3M LIBOR + 0.790%, 12/20/23 (a) ...... 2,155,000 2,233,330 2.000%, 10/31/21 (c) ...... 3,000,000 3,019,339 3.550%, 3M LIBOR + 0.780%, 03/05/24 (a) ...... 3,700,000 3,887,504 2.500%, 08/15/23 ...... 45,000,000 47,114,649 BNP Paribas S.A. 2.625%, 02/28/23 ...... 15,000,000 15,605,273 2.219%, SOFR + 2.074%, 06/09/26 (144A) (a) ...... 700,000 721,425 2.750%, 05/31/23 ...... 18,000,000 18,863,437 BPCE S.A. 2.750%, 08/31/23 ...... 20,000,000 21,064,844 2.375%, 01/14/25 (144A) ...... 3,000,000 3,123,712 2.875%, 10/31/23 ...... 19,000,000 20,128,125 Citigroup, Inc. 2.350%, 08/02/21 ...... 2,100,000 2,103,683 2.875%, 11/30/23 (c) ...... 25,000,000 26,529,297 2.572%, SOFR + 2.107%, 06/03/31 (a) (c) ...... 2,000,000 2,056,045 2.875%, 07/31/25 ...... 12,500,000 13,589,844 4.600%, 03/09/26 ...... 1,000,000 1,138,200 345,647,660 Credit Suisse Group AG Total U.S. Treasury & Government Agencies 4.550%, 04/17/26 ...... 4,000,000 4,530,448 (Cost $431,267,336) ...... 425,837,772 Dexia Credit Local S.A. 2.375%, 09/20/22 (144A) ...... 2,000,000 2,049,137 Goldman Sachs Group, Inc. (The) Corporate Bonds & Notes—24.3% 3.750%, 02/25/26 ...... 2,000,000 2,212,584 4.250%, 10/21/25 ...... 3,000,000 3,353,726 Aerospace/Defense—0.7% HSBC Holdings plc Boeing Co. (The) 1.645%, SOFR + 1.538%, 04/18/26 (a) ...... 1,500,000 1,520,112 2.196%, 02/04/26 ...... 2,600,000 2,624,851 2.013%, SOFR + 1.732%, 09/22/28 (a) ...... 2,300,000 2,307,835 General Dynamics Corp. 2.848%, SOFR + 2.387%, 06/04/31 (a) (c) ...... 1,200,000 1,245,802 3.250%, 04/01/25 ...... 3,300,000 3,576,274 JPMorgan Chase & Co. TransDigm, Inc. 2.083%, SOFR + 1.850%, 04/22/26 (a) ...... 5,400,000 5,583,838 6.250%, 03/15/26 (144A) ...... 900,000 949,500 3.875%, 09/10/24 ...... 2,500,000 2,725,175 Morgan Stanley 7,150,625 2.188%, SOFR + 1.990%, 04/28/26 (a) ...... 2,900,000 3,011,075 4.350%, 09/08/26 ...... 2,200,000 2,490,986 Agriculture—0.3% Shinhan Bank Co., Ltd. Altria Group, Inc. 1.375%, 10/21/26 (144A) ...... 2,500,000 2,502,708 2.350%, 05/06/25 ...... 2,200,000 2,300,047 Societe Generale S.A. Imperial Brands Finance plc 1.792%, 1Y H15 + 1.000%, 06/09/27 (144A) (a) ...... 1,500,000 1,496,354 3.125%, 07/26/24 (144A) ...... 300,000 315,789 SVB Financial Group 2,615,836 3.125%, 06/05/30 ...... 400,000 425,710 UniCredit S.p.A. Airlines—0.8% 1.982%, 1Y H15 + 1.200%, 06/03/27 (144A) (a) ...... 1,300,000 1,295,139 American Airlines, Inc./AAdvantage Loyalty IP, Ltd Wells Fargo & Co. 5.500%, 04/20/26 (144A) (c) ...... 1,500,000 1,588,125 2.188%, SOFR + 2.000%, 04/30/26 (a) (c) ...... 2,500,000 2,595,483

See accompanying notes to financial statements. BHFTI-79 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Electric—(Continued) Woori Bank Exelon Corp. 4.750%, 04/30/24 (144A) ...... 1,200,000 $ 1,318,525 3.400%, 04/15/26 ...... 2,000,000 $ 2,177,668 4.050%, 04/15/30 ...... 2,400,000 2,733,448 56,632,036 InterGen NV 7.000%, 06/30/23 (144A) (c) ...... 1,500,000 1,488,750 Beverages—0.5% Korea East-West Power Co., Ltd. Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 1.750%, 05/06/25 (144A) ...... 2,500,000 2,551,850 3.650%, 02/01/26 ...... 1,400,000 1,545,858 3.875%, 07/19/23 (144A) ...... 1,300,000 1,384,942 Anheuser-Busch InBev Worldwide, Inc. Talen Energy Supply LLC 3.500%, 06/01/30 (c) ...... 1,800,000 2,002,294 10.500%, 01/15/26 (144A) (c) ...... 900,000 650,813 Coca-Cola Europacific Partners plc 15,565,948 1.500%, 01/15/27 (144A) ...... 1,600,000 1,591,302 5,139,454 Electrical Components & Equipment—0.1% WESCO Distribution, Inc. Biotechnology—0.1% 7.125%, 06/15/25 (144A) ...... 1,100,000 1,188,770 Royalty Pharma plc 1.750%, 09/02/27 (144A) ...... 700,000 688,930 Electronics—0.3% Flex, Ltd. Chemicals—0.4% 3.750%, 02/01/26 ...... 1,400,000 1,531,085 Braskem Netherlands Finance B.V. Honeywell International, Inc. 4.500%, 01/31/30 (144A) (c) ...... 2,300,000 2,396,416 1.350%, 06/01/25 ...... 1,200,000 1,222,126 EI du Pont de Nemours and Co. 2,753,211 1.700%, 07/15/25 (c) ...... 800,000 820,424 Methanex Corp. Entertainment—0.3% 4.250%, 12/01/24 (c) ...... 900,000 953,391 Banijay Entertainment SASU 4,170,231 5.375%, 03/01/25 (144A) (c) ...... 1,200,000 1,239,000 International Game Technology plc Computers—0.1% 4.125%, 04/15/26 (144A) ...... 900,000 937,125 Live Nation Entertainment, Inc. Tempo Acquisition LLC / Tempo Acquisition Finance Corp. 3.750%, 01/15/28 (144A) (c) ...... 500,000 502,210 6.750%, 06/01/25 (144A) ...... 1,500,000 1,525,320 2,678,335 Cosmetics/Personal Care—0.4% Avon Products, Inc. Food—0.2% 6.500%, 03/15/23 ...... 1,900,000 2,043,213 B&G Foods, Inc. Oriflame Investment Holding plc 5.250%, 04/01/25 (c) ...... 1,200,000 1,232,520 5.125%, 05/04/26 (144A) (c) ...... 200,000 205,060 Cencosud S.A. Procter & Gamble Co. (The) 4.375%, 07/17/27 (144A) ...... 1,000,000 1,093,260 1.700%, 11/03/21 (c) ...... 1,500,000 1,507,933 2,325,780 3,756,206 Healthcare-Services—0.6% Diversified Financial Services—0.7% Anthem, Inc. 1.500%, 03/15/26 (c) ...... 3,000,000 3,033,707 Capital One Financial Corp. 2.375%, 01/15/25 ...... 700,000 733,054 3.050%, 03/09/22 ...... 5,400,000 5,491,333 Centene Corp. OneMain Finance Corp. 3.375%, 02/15/30 ...... 1,000,000 1,045,320 6.125%, 03/15/24 (c) ...... 1,200,000 1,291,500 ModivCare, Inc. 6,782,833 5.875%, 11/15/25 (144A) (c) ...... 1,000,000 1,070,000 5,882,081 Electric—1.5% Berkshire Hathaway Energy Co. Insurance—0.1% 4.050%, 04/15/25 (c) ...... 1,700,000 1,887,577 Radian Group, Inc. Duke Energy Corp. 6.625%, 03/15/25 ...... 500,000 564,245 2.450%, 06/01/30 (c) ...... 800,000 808,893 Willis North America, Inc. EDP Finance B.V. 2.950%, 09/15/29 ...... 400,000 420,006 1.710%, 01/24/28 (144A) ...... 1,900,000 1,882,007 984,251

See accompanying notes to financial statements. BHFTI-80 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Internet—1.6% Media—(Continued) Alibaba Group Holding, Ltd. Walt Disney Co. (The) 3.600%, 11/28/24 (c) ...... 4,000,000 $ 4,352,000 1.750%, 01/13/26 ...... 1,300,000 $ 1,336,682 Amazon.com, Inc. 15,666,090 2.400%, 02/22/23 (c) ...... 1,700,000 1,756,829 Baidu, Inc. Miscellaneous Manufacturing—0.0% 4.375%, 05/14/24 ...... 2,300,000 2,502,605 Anagram International, Inc. / Anagram Holdings LLC Netflix, Inc. 10.000%, 08/15/26 PIK, (144A) (e) ...... 108,752 108,752 3.625%, 06/15/25 (144A) ...... 800,000 859,072 4.375%, 11/15/26 (c) ...... 700,000 796,054 Multi-National—0.1% 5.750%, 03/01/24 ...... 1,200,000 1,347,000 Banque Ouest Africaine de Developpement Tencent Holdings, Ltd. 5.000%, 07/27/27 (144A) ...... 1,300,000 1,446,214 1.810%, 01/26/26 (144A) (c) ...... 900,000 913,923 2.985%, 01/19/23 (144A) ...... 3,300,000 3,413,754 Oil & Gas—1.8% 15,941,237 Apache Corp. 4.625%, 11/15/25 (c) ...... 900,000 972,000 Leisure Time—0.2% BP Capital Markets America, Inc. NCL Corp., Ltd. 3.410%, 02/11/26 ...... 2,000,000 2,188,124 5.875%, 03/15/26 (144A) ...... 1,500,000 1,571,250 3.796%, 09/21/25 (c) ...... 3,200,000 3,546,475 TUI Cruises GmbH Equinor ASA 6.500%, 05/15/26 (144A) (EUR) ...... 250,000 307,691 1.750%, 01/22/26 ...... 1,300,000 1,338,691 2.875%, 04/06/25 ...... 4,700,000 5,022,560 1,878,941 Harvest Operations Corp. 4.200%, 06/01/23 (144A) (c) ...... 800,000 851,678 Lodging—0.1% Mesquite Energy, Inc. Genting New York LLC 7.750%, 06/15/21 ...... 1,200,000 24,000 3.300%, 02/15/26 (144A) ...... 200,000 201,892 Occidental Petroleum Corp. Studio City Finance, Ltd. 3.450%, 07/15/24 ...... 1,000,000 1,020,000 6.000%, 07/15/25 (144A) ...... 1,000,000 1,049,250 Petroleos Mexicanos Wynn Macau, Ltd. 6.875%, 10/16/25 (144A) ...... 350,000 387,450 5.625%, 08/26/28 (144A) (c) ...... 200,000 208,500 Valero Energy Corp. 1,459,642 2.850%, 04/15/25 ...... 3,000,000 3,180,972 18,531,950 Machinery-Construction & Mining—0.1% Manitowoc Co., Inc. (The) Oil & Gas Services—0.0% 9.000%, 04/01/26 (144A) ...... 700,000 759,500 Weatherford International, Ltd. 11.000%, 12/01/24 (144A) ...... 199,000 206,960 Media—1.5% CCO Holdings LLC / CCO Holdings Capital Corp. Packaging & Containers—0.4% 4.000%, 03/01/23 (144A) ...... 800,000 807,000 BWAY Holding Co. Charter Communications Operating LLC / Charter Communications 7.250%, 04/15/25 (144A) (c) ...... 2,000,000 1,960,000 Operating Capital Corp. OI European Group B.V. 2.800%, 04/01/31 (c) ...... 1,100,000 1,124,543 4.000%, 03/15/23 (144A) (c) ...... 1,000,000 1,030,350 4.908%, 07/23/25 ...... 3,000,000 3,398,733 Owens-Brockway Glass Container, Inc. CSC Holdings LLC 5.375%, 01/15/25 (144A) (c) ...... 300,000 318,750 5.250%, 06/01/24 (c) ...... 1,200,000 1,300,444 5.875%, 08/15/23 (144A) (c) ...... 700,000 754,859 DISH DBS Corp. 5.875%, 07/15/22 (c) ...... 700,000 730,240 4,063,959 5.875%, 11/15/24 (c) ...... 900,000 966,375 Fox Corp. Pharmaceuticals—1.9% 3.050%, 04/07/25 ...... 1,700,000 1,820,292 AbbVie, Inc. TWDC Enterprises 18 Corp. 2.300%, 11/21/22 ...... 1,100,000 1,129,066 3.150%, 09/17/25 (c) ...... 3,000,000 3,263,601 3.450%, 03/15/22 ...... 4,900,000 4,982,627 Univision Communications, Inc. AstraZeneca plc 5.125%, 02/15/25 (144A) (c) ...... 900,000 918,180 0.700%, 04/08/26 (c) ...... 200,000 194,726 Bayer U.S. Finance LLC 3.875%, 12/15/23 (144A) ...... 3,000,000 3,212,884

See accompanying notes to financial statements. BHFTI-81 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Pharmaceuticals—(Continued) Telecommunications—(Continued) Bristol-Myers Squibb Co. CommScope Technologies LLC 2.250%, 08/15/21 ...... 3,800,000 $ 3,809,259 6.000%, 06/15/25 (144A) ...... 900,000 $ 919,125 2.750%, 02/15/23 ...... 1,500,000 1,555,989 Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Cigna Corp. Spectrum Co. III LLC 1.250%, 03/15/26 (c) ...... 4,000,000 4,011,712 3.360%, 09/20/21 (144A) ...... 112,500 113,121 18,896,263 4.738%, 03/20/25 (144A) ...... 281,250 301,742 T-Mobile USA, Inc. Pipelines—1.4% 2.250%, 02/15/26 (c) ...... 1,000,000 1,007,500 Cheniere Corpus Christi Holdings LLC Verizon Communications, Inc. 5.875%, 03/31/25 ...... 2,500,000 2,865,173 1.450%, 03/20/26 ...... 4,300,000 4,336,569 Energy Transfer L.P. Vodafone Group plc 4.050%, 03/15/25 ...... 1,800,000 1,951,698 4.125%, 05/30/25 (c) ...... 3,000,000 3,348,513 4.200%, 09/15/23 (c) ...... 1,000,000 1,069,602 13,812,271 EnLink Midstream Partners L.P. 4.400%, 04/01/24 ...... 1,400,000 1,470,000 Trucking & Leasing—0.1% MPLX L.P. DAE Funding LLC 4.875%, 12/01/24 ...... 2,500,000 2,797,633 1.550%, 08/01/24 (144A) ...... 600,000 598,782 Sabine Pass Liquefaction LLC 5.625%, 03/01/25 ...... 1,700,000 1,942,994 Total Corporate Bonds & Notes 5.750%, 05/15/24 ...... 1,000,000 1,122,185 (Cost $242,335,200) ...... 246,093,462 Williams Cos., Inc. (The) 3.500%, 11/15/30 ...... 400,000 436,574 Asset-Backed Securities—14.2% 4.000%, 09/15/25 ...... 500,000 553,586 14,209,445 Asset-Backed - Credit Card—0.2% Capital One Multi-Asset Execution Trust Real Estate—0.0% 2.290%, 07/15/25 ...... 1,970,000 2,019,689 Vivion Investments Sarl 3.000%, 08/08/24 (EUR) ...... 200,000 235,718 Asset-Backed - Home Equity—0.0% RAAC Trust Real Estate Investment Trusts—0.2% 0.792%, 1M LIBOR + 0.700%, 03/25/34 (a) ...... 107,001 108,113 VICI Properties L.P. / VICI Note Co., Inc. 3.500%, 02/15/25 (144A) (c) ...... 2,200,000 2,243,428 Asset-Backed - Other—14.0% Adagio CLO VIII DAC Retail—0.4% 1.650%, 3M EURIBOR + 1.650%, 04/15/32 (144A) Dollar Tree, Inc. (EUR) (a) ...... 400,000 474,745 3.700%, 05/15/23 ...... 3,200,000 3,381,344 American Homes 4 Rent Trust KSouth Africa, Ltd. 3.467%, 04/17/52 (144A) ...... 2,243,619 2,379,747 3.000%, 12/31/22 PIK, (144A) † (e) (f) (g) ...... 681,075 0 Apidos CLO XXXV 25.000%, 12/31/22 PIK, (144A) † (e) (f) (g) ...... 220,336 0 1.249%, 3M LIBOR + 1.050%, 04/20/34 (144A) (a) ..... 6,910,000 6,916,260 Party City Holdings, Inc. Ares Euro CLO B.V. 5.750%, 6M LIBOR + 5.000%, 07/15/25 (144A) (a) (c) . . . 195,885 186,091 0.920%, 3M EURIBOR + 0.920%, 04/17/32 (144A) 3,567,435 (EUR) (a) ...... 3,200,000 3,793,300 1.600%, 3M EURIBOR + 1.600%, 04/17/32 (144A) Semiconductors—0.3% (EUR) (a) ...... 500,000 587,145 SK Hynix, Inc. Armada Euro CLO IV DAC 1.500%, 01/19/26 (144A) ...... 3,400,000 3,353,828 1.700%, 3M EURIBOR + 1.700%, 07/15/33 (144A) (EUR) (a) ...... 500,000 592,893 Software—0.1% Atrium XIII Fiserv, Inc. 1.973%, 3M LIBOR + 1.800%, 11/21/30 (144A) (a) ..... 1,000,000 998,977 2.250%, 06/01/27 (c) ...... 1,000,000 1,037,332 Bain Capital Credit CLO 1.133%, 3M LIBOR + 0.960%, 04/23/31 (144A) (a) ..... 1,500,000 1,500,099 Telecommunications—1.4% 1.323%, 3M LIBOR + 1.150%, 04/23/31 (144A) (a) ..... 1,000,000 1,000,029 AT&T, Inc. BCC Middle Market CLO LLC 2.300%, 06/01/27 ...... 400,000 413,721 2.338%, 3M LIBOR + 2.150%, 10/20/30 (144A) (a) ..... 1,600,000 1,573,650 4.125%, 02/17/26 ...... 3,000,000 3,371,980

See accompanying notes to financial statements. BHFTI-82 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Asset-Backed - Other—(Continued) Blackrock European CLO IX DAC Magnetite XXIX, Ltd. 0.900%, 3M EURIBOR + 0.900%, 12/15/32 (144A) 1.094%, 3M LIBOR + 0.990%, 01/15/34 (144A) (a) ..... 7,806,000 $ 7,802,878 (EUR) (a) ...... 2,600,000 $ 3,083,092 Mill City Mortgage Loan Trust 1.550%, 3M EURIBOR + 1.550%, 12/15/32 (144A) 3.250%, 05/25/62 (144A) (a) ...... 1,720,451 1,765,037 (EUR) (a) ...... 800,000 949,140 3.500%, 04/25/66 (144A) (a) ...... 2,412,347 2,515,575 BlueMountain CLO, Ltd. Neuberger Berman CLO, Ltd. 1.266%, 3M LIBOR + 1.110%, 08/15/31 (144A) (a) ..... 2,467,643 2,472,209 1.586%, 3M LIBOR + 1.400%, 10/21/30 (144A) (a) ..... 1,700,000 1,700,194 3.055%, 3M LIBOR + 2.900%, 11/20/28 (144A) (a) ..... 250,000 247,651 NZCG Funding, Ltd. BlueMountain Fuji EUR CLO 1.691%, 3M LIBOR + 1.550%, 02/26/31 (144A) (a) ..... 490,000 482,111 1.550%, 3M EURIBOR + 1.550%, 01/15/33 (144A) Octagon Investment Partners 18-R, Ltd. (EUR) (a) ...... 1,400,000 1,662,208 2.884%, 3M LIBOR + 2.700%, 04/16/31 (144A) (a) ..... 400,000 393,256 BlueMountain Fuji U.S. CLO, Ltd. Octagon Investment Partners, Ltd. 1.884%, 3M LIBOR + 1.700%, 01/15/30 (144A) (a) ..... 2,000,000 1,971,404 1.288%, 3M LIBOR + 1.100%, 01/20/31 (144A) (a) ..... 600,000 601,157 Carlyle Global Market Strategies CLO, Ltd. 1.626%, 3M LIBOR + 1.450%, 10/24/30 (144A) (a) ..... 2,000,000 2,001,562 2.790%, 3M LIBOR + 2.600%, 04/17/31 (144A) (a) ..... 292,000 272,348 OHA Credit Partners VII, Ltd. Carlyle GMS Finance MM CLO LLC 1.225%, 3M LIBOR + 1.070%, 02/20/34 (144A) (a) ..... 6,398,000 6,400,041 2.384%, 3M LIBOR + 2.200%, 10/15/31 (144A) (a) ..... 1,000,000 982,102 RR 14, Ltd. Carlyle U.S. CLO, Ltd. 1.215%, 3M LIBOR + 1.120%, 04/15/36 (144A) (a) ..... 8,382,000 8,379,896 1.331%, 3M LIBOR + 1.140%, 04/15/34 (144A) (a) ..... 6,398,000 6,390,412 Sculptor CLO XXV, Ltd. 1.988%, 3M LIBOR + 1.800%, 01/20/30 (144A) (a) ..... 1,000,000 995,067 1.410%, 3M LIBOR + 1.270%, 01/15/31 (144A) (a) ..... 3,839,000 3,842,524 Cent CLO 21, Ltd. Towd Point Mortgage Trust 3.381%, 3M LIBOR + 3.200%, 07/27/30 (144A) (a) ..... 275,000 272,177 2.750%, 10/25/56 (144A) (a) ...... 2,206,427 2,240,192 CF Hippolyta LLC 3.000%, 06/25/58 (144A) (a) ...... 2,266,456 2,356,070 1.690%, 07/15/60 (144A) ...... 1,212,061 1,231,620 3.722%, 03/25/58 (144A) (a) ...... 616,302 649,075 Cook Park CLO Ltd. 3.750%, 05/25/58 (144A) (a) ...... 3,690,567 3,890,062 1.310%, 3M LIBOR + 1.120%, 04/17/30 (144A) (a) ..... 1,500,000 1,490,271 Voya CLO, Ltd. Countrywide Asset-Backed Certificates 1.146%, 3M LIBOR + 0.970%, 04/25/31 (144A) (a) ..... 800,000 799,798 0.842%, 1M LIBOR + 0.750%, 03/25/34 (a) ...... 51,594 51,452 1.590%, 3M LIBOR + 1.400%, 10/18/31 (144A) (a) ..... 2,454,544 2,456,395 Dryden 44 Euro CLO B.V. 3.440%, 3M LIBOR + 3.250%, 10/18/31 (144A) (a) ..... 849,057 823,618 0.880%, 3M EURIBOR + 0.880%, 04/15/34 (144A) 141,549,052 (EUR) (a) ...... 7,166,000 8,482,598 Dryden 45 Senior Loan Fund Total Asset-Backed Securities 1.584%, 3M LIBOR + 1.400%, 10/15/30 (144A) (a) ..... 3,000,000 2,999,244 (Cost $140,626,348) ...... 143,676,854 FirstKey Homes Trust 1.266%, 10/19/37 (144A) ...... 1,426,844 1,424,545 Floating Rate Loans (h)—4.5% GoldentTree Loan Management US CLO 1, Ltd. 1.195%, 3M LIBOR + 1.070%, 01/20/33 (144A) (a) ..... 5,631,000 5,631,895 Advertising—0.0% Halcyon Loan Advisors Funding, Ltd. Clear Channel Outdoor Holdings, Inc. 1.988%, 3M LIBOR + 1.800%, 07/21/31 (144A) (a) ..... 1,500,000 1,500,819 Term Loan B, 3.686%, 3M LIBOR + 3.500%, 08/21/26 .... 296,977 290,342 Holland Park CLO DAC 0.920%, 3M EURIBOR + 0.920%, 11/14/32 (144A) Aerospace/Defense—0.1% (EUR) (a) ...... 9,900,000 11,749,163 AI Convoy (Luxembourg) S.a.r.l. Invitation Homes Trust Term Loan B, 4.500%, 6M LIBOR + 3.500%, 01/17/27 .... 87,862 87,917 0.932%, 1M LIBOR + 0.850%, 12/17/36 (144A) (a) ..... 5,211,631 5,216,199 AqGen Island Holdings, Inc. LCM, Ltd. Term Loan B, 05/20/28 (i) ...... 249,175 249,330 1.988%, 3M LIBOR + 1.800%, 01/20/31 (144A) (a) ..... 1,000,000 990,743 Dynasty Acquisition Co., Inc. Long Point Park CLO, Ltd. Term Loan B1, 3.647%, 3M LIBOR + 3.500%, 04/06/26 . . . 612,598 597,156 1.890%, 3M LIBOR + 1.700%, 01/17/30 (144A) (a) ..... 1,000,000 993,610 Term Loan B2, 3.647%, 3M LIBOR + 3.500%, 04/06/26 . . . 329,354 321,052 Madison Park Euro Funding VIII DAC 0.950%, 3M EURIBOR + 0.950%, 04/15/32 (144A) 1,255,455 (EUR) (a) ...... 8,000,000 9,498,361 1.700%, 3M EURIBOR + 1.700%, 04/15/32 (144A) Airlines—0.2% (EUR) (a) ...... 900,000 1,068,403 AAdvantage Loyalty, IP Ltd. Madison Park Funding, Ltd. Term Loan, 5.500%, 3M LIBOR + 4.750%, 04/20/28 ..... 168,286 175,649 1.884%, 3M LIBOR + 1.700%, 10/22/30 (144A) (a) ..... 1,000,000 1,006,033 Allegiant Travel Co. Term Loan, 3.156%, 3M LIBOR + 3.000%, 02/05/24 ..... 625,668 623,087

See accompanying notes to financial statements. BHFTI-83 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Airlines—(Continued) Chemicals—(Continued) JetBlue Airways Corp. Sparta U.S Hodco LLC Term Loan, 6.250%, 3M LIBOR + 5.250%, 06/17/24 ..... 1,037 $ 1,060 Term Loan, 05/04/28 (i) ...... 128,976 $ 129,338 Kestrel Bidco, Inc. 1,466,405 Term Loan B, 4.000%, 6M LIBOR + 3.000%, 12/11/26 .... 1,096,125 1,075,710 SkyMiles IP, Ltd. Commercial Services—0.3% Term Loan B, 4.750%, 3M LIBOR + 3.750%, 10/20/27 .... 157,270 166,293 Amentum Government Services Holdings LLC United Airlines, Inc. Term Loan B, 5.500%, 3M LIBOR + 4.750%, 01/29/27 .... 99,750 100,810 Term Loan B, 4.500%, 3M LIBOR + 3.750%, 04/21/28 .... 250,000 253,571 Avis Budget Car Rental, LLC 2,295,370 Term Loan B, 2.360%, 1M LIBOR + 2.250%, 08/06/27 .... 756,839 742,332 Icon Luxembourg Sarl Apparel—0.0% Term Loan, 06/16/28 (i) ...... 137,683 138,113 Champ Acquisition Corp. KUEHG Corp. Term Loan, 5.703%, 3M LIBOR + 5.500%, 12/19/25 ..... 291,717 293,488 Incremental Term Loan, 4.750%, 3M LIBOR + 3.750%, 02/21/25 ...... 596,923 588,964 Auto Manufacturers—0.1% LegalZoom.com, Inc. American Trailer World Corp. 1st Lien Term Loan, 4.604%, 1M LIBOR + 4.500%, Term Loan B, 03/03/28 (i) ...... 158,200 158,167 11/21/24 ...... 823,381 823,381 Navistar International Corp. Rent-A-Center, Inc. 1st Lien Term Loan B, 3.600%, 2M LIBOR + 3.500%, Term Loan B, 4.750%, 1M LIBOR + 4.000%, 02/17/28 .... 87,862 88,320 11/06/24 ...... 819,386 820,752 Verscend Holding Corp. 978,919 Term Loan B, 4.104%, 1M LIBOR + 4.000%, 08/27/25 .... 237,793 238,784 2,720,704 Auto Parts & Equipment—0.1% Adient U.S. LLC Computers—0.1% Term Loan B, 3.604%, 1M LIBOR + 3.500%, 04/08/28 .... 540,000 541,406 Magenta Buyer LLC Clarios Global L.P. USD 1st Lien Term Loan, 05/03/28 (i) ...... 175,823 176,011 USD Term Loan B, 3.354%, 1M LIBOR + 3.250%, Peraton Holding Corp. 04/30/26 ...... 236,842 235,165 Term Loan B, 4.500%, 1M LIBOR + 3.750%, 02/01/28 .... 331,968 333,550 Truck Hero, Inc. Perforce Software, Inc. Term Loan B, 4.500%, 1M LIBOR + 3.750%, 01/31/28 .... 78,323 78,432 Term Loan B, 3.854%, 1M LIBOR + 3.750%, 07/01/26 .... 324,816 322,786 855,003 Surf Holdings LLC Term Loan, 3.628%, 3M LIBOR + 3.500%, 03/05/27 ..... 505,346 502,504 Beverages—0.0% 1,334,851 City Brewing Co. LLC Closing Date Term Loan, 4.250%, 3M LIBOR + 3.500%, Cosmetics/Personal Care—0.1% 04/05/28 ...... 111,111 111,666 Conair Holdings LLC Triton Water Holdings, Inc. Term Loan B, 4.250%, 3M LIBOR + 3.750%, 05/17/28 .... 45,960 46,116 Term Loan, 4.500%, 3M LIBOR + 3.500%, 03/31/28 ..... 193,563 193,667 Coty, Inc. 305,333 Term Loan B, 2.331%, 1M LIBOR + 2.250%, 04/07/25 .... 896,638 863,761 909,877 Chemicals—0.1% CPC Acquisition Corp. Diversified Financial Services—0.2% Term Loan, 4.500%, 3M LIBOR + 3.750%, 12/29/27 ..... 103,359 103,424 Citadel Securities L.P. Cyanco Intermediate Corp. Term Loan B, 2.604%, 1M LIBOR + 2.500%, 02/02/28 .... 389,025 385,524 Term Loan B, 3.604%, 1M LIBOR + 3.500%, 03/16/25 .... 575,189 570,588 Edelman Financial Center LLC Illuminate Buyer LLC Term Loan B, 4.500%, 1M LIBOR + 3.750%, 04/07/28 .... 700,000 701,458 Term Loan, 3.604%, 1M LIBOR + 3.500%, 06/30/27 ..... 239,775 238,626 Jane Street Group LLC INEOS Styrolution U.S. Holding LLC Term Loan, 2.854%, 1M LIBOR + 2.750%, 01/26/28 ..... 189,601 189,103 USD Term Loan B, 3.250%, 1M LIBOR + 2.750%, Jefferies Finance LLC 01/29/26 ...... 124,247 124,150 Term Loan, 3.125%, 1M LIBOR + 3.000%, 06/03/26 ..... 95,453 95,155 SCIH Salt Holdings, Inc. Russell Investments Group LLC Incremental Term Loan B, 4.750%, 3M LIBOR + 4.000%, Term Loan, 4.500%, 6M LIBOR + 3.000%, 05/30/25 ..... 400,000 398,350 03/16/27 ...... 299,391 300,279 1,769,590

See accompanying notes to financial statements. BHFTI-84 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—0.0% Insurance—0.2% Astoria Energy LLC Alliant Holdings Intermediate, LLC Term Loan B, 4.500%, 3M LIBOR + 3.500%, 12/10/27 .... 23,739 $ 23,757 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 05/09/25 .... 483,826 $ 479,455 Term Loan B3, 4.250%, 1M LIBOR + 3.750%, 10/08/27 . . . 50,846 50,993 Engineering & Construction—0.1% AssuredPartners Capital, Inc. USIC Holdings, Inc. Incremental Term Loan B, 02/12/27 (i) ...... 130,017 130,531 Term Loan, 4.250%, 1M LIBOR + 3.500%, 05/12/28 ..... 119,244 119,226 AssuredPartners, Inc. Ventia Deco LLC Term Loan B, 3.604%, 1M LIBOR + 3.500%, 02/12/27 .... 700,889 697,885 Term Loan B, 5.000%, 3M LIBOR + 4.000%, 05/21/26 .... 349,298 350,753 Asurion LLC 469,979 2nd Lien Term Loan B3, 5.354%, 1M LIBOR + 5.250%, 01/31/28 ...... 9,569 9,660 Entertainment—0.1% Term Loan B6, 3.104%, 1M LIBOR + 3.000%, 11/03/23 . . . 275,902 274,760 Great Canadian Gaming Corp. Term Loan B8, 3.354%, 1M LIBOR + 3.250%, 12/23/26 . . . 164,248 162,567 Term Loan, 11/01/26 (i) ...... 102,034 102,305 Term Loan B9, 3.345%, 1M LIBOR + 3.250%, 07/31/27 . . . 211,053 208,899 NASCAR Holdings, Inc. Sedgwick Claims Management Services, Inc. Term Loan B, 2.854%, 1M LIBOR + 2.750%, 10/19/26 .... 664,611 662,451 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 12/31/25 .... 228,827 226,653 William Morris Endeavor Entertainment LLC 2,241,403 1st Lien Term Loan, 2.854%, 1M LIBOR + 2.750%, 05/18/25 ...... 538,103 529,359 Internet—0.0% 1,294,115 Arches Buyer, Inc. Term Loan B, 3.750%, 1M LIBOR + 3.250%, 12/06/27 .... 103,266 103,180 Environmental Control—0.0% Barracuda Networks, Inc. Madison IAQ LLC 1st Lien Term Loan, 4.500%, 3M LIBOR + 3.750%, Term Loan, 06/16/28 (i) ...... 120,910 121,122 02/12/25 ...... 103,454 103,874 CNT Holdings I Corp. Healthcare-Services—0.2% Term Loan, 4.500%, 3M LIBOR + 3.750%, 11/08/27 ..... 32,353 32,416 ADMI Corp. MH Sub I LLC Incremental Term Loan B3, 12/23/27 (i) ...... 105,578 105,561 Incremental Term Loan, 4.750%, 1M LIBOR + 3.750%, Term Loan B2, 3.250%, 1M LIBOR + 3.375%, 12/23/27 . . . 81,713 81,049 09/13/24 ...... 48,195 48,358 eResearchTechnology, Inc. 287,828 1st Lien Term Loan, 5.500%, 1M LIBOR + 4.500%, 02/04/27 ...... 276,717 278,338 Leisure Time—0.1% Heartland Dental, LLC Varsity Brands, Inc. Incremental Term Loan, 4.073%, 1M LIBOR + 4.000%, Term Loan B, 4.500%, 1M LIBOR + 3.500%, 12/15/24 .... 879,686 861,359 04/30/25 ...... 77,175 77,138 National Mentor Holdings, Inc. Lodging—0.2% Term Loan C, 4.397%, 3M LIBOR + 4.250%, 03/09/26 .... 1,755 1,759 Caesars Resort Collection LLC Phoenix Guarantor, Inc. 1st Lien Term Loan B, 2.854%, 1M LIBOR + 2.750%, Term Loan B, 3.341%, 1M LIBOR + 3.250%, 03/05/26 .... 349,207 347,243 12/23/24 ...... 472,552 469,033 Term Loan B, 3.573%, 1M LIBOR + 3.500%, 03/05/26 .... 199,001 197,864 Term Loan B1, 4.604%, 1M LIBOR + 4.500%, 07/21/25 . . . 581,470 584,113 Pluto Acquisition I, Inc. Hilton Grand Vacations Borrower LLC 1st Lien Term Loan, 06/20/26 (i) ...... 122,476 122,783 Term Loan B, 05/19/28 (i) ...... 494,000 494,849 U.S. Renal Care, Inc. Term Loan B, 06/26/26 (i) ...... 298,000 299,676 1,547,995

1,511,411 Machinery-Diversified—0.0% Vertical Midco GmbH Home Builders—0.2% Term Loan B, 4.478%, 6M LIBOR + 4.250%, 07/30/27 .... 384,864 386,040 Thor Industries, Inc. USD Term Loan, 3.095%, 1M LIBOR + 3.000%, 02/01/26 . . 1,680,323 1,683,999 Media—0.3% Banijay Entertainment S.A.S Home Furnishings—0.0% USD Term Loan, 3.836%, 1M LIBOR + 3.750%, AI Aqua Merger Sub, Inc. 03/01/25 ...... 542,795 542,031 1st Lien Term Loan B, 06/16/28 (i) ...... 208,318 209,035 Cengage Learning Acquisitions, Inc. First Lien Term Loan, 06/16/28 (i) ...... 26,040 26,129 Term Loan B, 5.250%, 3M LIBOR + 4.250%, 06/07/23 .... 897,163 897,885 235,164

See accompanying notes to financial statements. BHFTI-85 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Media—(Continued) Pharmaceuticals—(Continued) Diamond Sports Group, LLC Jazz Financing Lux S.a.r.l. Term Loan, 3.360%, 1M LIBOR + 3.250%, 08/24/26 ..... 708,046 $ 438,735 USD Term Loan, 4.000%, 1M LIBOR + 3.500%, 04/21/28 . . 105,017 $ 105,533 Gray Television, Inc. Organon & Co. Term Loan C, 2.592%, 1M LIBOR + 2.500%, 01/02/26 .... 321,812 320,650 USD Term Loan, 06/02/28 (i) ...... 230,000 230,472 Radiate Holdco LLC Pathway Vet Alliance LLC Term Loan, 4.250%, 1M LIBOR + 3.500%, 09/25/26 ..... 63,854 63,965 Term Loan, 3.854%, 1M LIBOR + 3.750%, 03/31/27 ..... 779,552 779,065 Univision Communications, Inc. 1,522,871 Term Loan B, 3.854%, 1M LIBOR + 3.750%, 03/15/26 .... 426,005 427,176 Virgin Media Bristol LLC Real Estate—0.0% Term Loan Q, 3.353%, 3M LIBOR + 3.250%, 01/31/29 .... 30,422 30,410 Cushman & Wakefield U.S. Borrower, LLC WideOpenWest Finance LLC Term Loan B, 2.854%, 1M LIBOR + 2.750%, 08/21/25 .... 307,723 305,569 Term Loan B, 4.250%, 1M LIBOR + 3.250%, 08/18/23 .... 212,260 212,172 2,933,024 Retail—0.2% Evergreen Acqco 1 L.P. Metal Fabricate/Hardware—0.1% USD Term Loan, 6.500%, 3M LIBOR + 5.750%, 04/21/28 . . 168,045 170,006 Tiger Acquisition LLC General Nutrition Centers, Inc. Term Loan, 3.750%, 3M LIBOR + 3.250%, 06/01/28 ..... 617,500 616,600 2nd Lien Term Loan, 6.200%, 3M LIBOR + 6.000%, 10/30/26 ...... 211,826 190,644 Mining—0.0% Great Outdoors Group LLC U.S. Silica Co. Term Loan B, 5.000%, 6M LIBOR + 4.250%, 03/06/28 .... 422,340 425,394 Term Loan B, 5.000%, 1M LIBOR + 4.000%, 05/01/25 .... 248,704 238,490 Harbor Freight Tools USA, Inc. Term Loan B, 3.750%, 1M LIBOR + 3.000%, 10/19/27 .... 403,565 404,116 Office/Business Equipment—0.1% Highline Aftermarket Acquisition LLC Pitney Bowes Inc. Term Loan B, 5.250%, 3M LIBOR + 4.500%, 11/09/27 .... 62,144 62,454 Term Loan B, 4.110%, 1M LIBOR + 4.000%, 03/17/28 .... 449,804 450,554 IRB Holding Corp. Incremental Term Loan, 4.250%, 3M LIBOR + 3.250%, Oil & Gas—0.1% 12/15/27 ...... 59,448 59,479 Fieldwood Energy LLC Michaels Companies, Inc. 1st Lien Term Loan, 7.500%, PRIME + 4.250%, 04/11/22 . . 1,596,270 830,061 Term Loan B, 5.000%, 3M LIBOR + 4.250%, 04/15/28 .... 230,000 231,246 2nd Lien Term Loan, 08/04/21 (f) (g) (i) ...... 170,173 166,769 PetSmart, Inc. DIP Delayed Draw Term Loan, 3.675%, 1M LIBOR + Term Loan B, 4.500%, 3M LIBOR + 3.750%, 02/12/28 .... 95,691 95,870 8.750%, 08/04/21 (j) ...... 190,311 193,166 Staples, Inc. 1,189,996 Term Loan, 5.176%, 3M LIBOR + 5.000%, 04/16/26 ..... 565,567 552,666 Tory Burch LLC Oil & Gas Services—0.1% Term Loan B, 4.000%, 1M LIBOR + 3.500%, 04/14/28 .... 126,316 126,210 Onsite Rental Group Pty, Ltd. WOOF Holdings, Inc. Term Loan, 6.100%, 10/26/23 (f) (g) ...... 882,507 616,872 1st Lien Term Loan, 4.500%, 3M LIBOR + 3.750%, 12/21/27 ...... 54,453 54,521 Packaging & Containers—0.1% 2,372,606 BWAY Holding Co. Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/03/24 .... 552,929 540,637 Software—0.7% Charter NEX U.S., Inc. Alloy Finco, Ltd. Term Loan, 12/01/27 (i) ...... 48,334 48,507 Holdco PIK Term Loan, 13.500%, 03/06/25 ...... 315,959 308,060 First Brands Corp. Aspect Software, Inc. Term Loan, 6.000%, 1M LIBOR + 5.000%, 03/30/27 ..... 299,880 303,816 2021 Term Loan, 6.000%, 3M LIBOR + 5.250%, 05/08/28 . . . 241,373 237,953 Klockner-Pentaplast of America, Inc. Athenahealth, Inc. Term Loan B, 5.250%, 3M LIBOR + 4.750%, 02/12/26 .... 185,846 187,240 Term Loan B1, 4.410%, 3M LIBOR + 4.250%, 02/11/26 . . . 544,931 548,507 1,080,200 Blackboard, Inc. Term Loan B5, 7.000%, 3M LIBOR + 6.000%, 06/30/24 . . . 845,335 848,946 Pharmaceuticals—0.2% DCert Buyer, Inc. Bausch Health Companies, Inc. Term Loan B, 4.104%, 1M LIBOR + 4.000%, 10/16/26 .... 425,270 426,333 Term Loan B, 3.104%, 1M LIBOR + 3.000%, 06/02/25 .... 156,139 155,700 Dun & Bradstreet Corp. (The) Gainwell Acquisition Corp. Term Loan, 3.345%, 1M LIBOR + 3.250%, 02/06/26 ..... 10,593 10,551 Term Loan B, 4.750%, 3M LIBOR + 4.000%, 10/01/27 .... 251,003 252,101

See accompanying notes to financial statements. BHFTI-86 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Software—(Continued) Transportation—0.0% Greeneden U.S., Holdings II LLC Kenan Advantage Group, Inc. USD Term Loan B4, 4.750%, 1M LIBOR + 4.000%, Term Loan B1, 4.500%, 1M LIBOR + 3.750%, 03/24/26 . . . 268,044 $ 268,781 12/01/27 ...... 115,847 $ 116,261 Total Floating Rate Loans Hyland Software, Inc. (Cost $46,359,112) ...... 45,673,974 Term Loan 3, 4.250%, 1M LIBOR + 3.500%, 07/01/24 .... 96,263 96,581 Idera, Inc. Term Loan, 4.500%, 3M LIBOR + 3.750%, 03/02/28 ..... 276,282 276,593 Mortgage-Backed Securities—3.8% IGT Holding IV AB USD Term Loan, 4.250%, 3M LIBOR + 3.750%, 03/31/28 . . 191,827 192,546 Collateralized Mortgage Obligations—1.5% Ivanti Software, Inc. Adjustable Rate Mortgage Trust Term Loan B, 5.750%, 3M LIBOR + 4.750%, 12/01/27 .... 159,600 159,999 2.716%, 02/25/35 (a) ...... 1,044,094 1,084,159 Mitchell International, Inc. BRAVO Residential Funding Trust Add-On Term Loan, 4.750%, 1M LIBOR + 4.250%, 3.500%, 10/25/44 (144A) (a) ...... 2,004,757 2,088,588 11/29/24 ...... 248,125 249,934 CHL Mortgage Pass-Through Trust Navicure, Inc. 2.016%, 07/25/34 (a) ...... 299,317 302,166 Term Loan B, 4.093%, 1M LIBOR + 4.000%, 10/22/26 .... 256,750 257,552 Credit Suisse First Boston Mortgage Securities Corp. Playtika Holding Corp. 5.000%, 09/25/19 ...... 51,751 43,899 Term Loan, 2.854%, 1M LIBOR + 2.750%, 03/13/28 ..... 55,355 55,195 JPMorgan Mortgage Trust Polaris Newco LLC 2.500%, 10/25/51 (144A) (a) ...... 5,664,113 5,800,125 USD Term Loan B, 4.500%, 6M LIBOR + 4.000%, MASTR Alternative Loan Trust 06/02/28 ...... 365,296 366,749 5.000%, 02/25/18 ...... 9,807 9,957 Quest Software U.S. Holdings, Inc. Merrill Lynch Mortgage Investors Trust 1st Lien Term Loan, 4.436%, 3M LIBOR + 4.250%, 0.832%, 1M LIBOR + 0.740%, 03/25/28 (a) ...... 154,389 154,667 05/16/25 ...... 575,573 575,676 New York Mortgage Trust Rocket Software, Inc. 0.767%, 1M LIBOR + 0.675%, 02/25/36 (a) ...... 122,517 117,828 Term Loan, 11/28/25 (i) ...... 272,900 268,274 OBX Trust Syncsort, Inc. 0.742%, 1M LIBOR + 0.650%, 06/25/57 (144A) (a) ..... 607,706 608,175 1st Lien Term Loan, 5.000%, 3M LIBOR + 4.250%, 2.500%, 05/25/51 (144A) (a) ...... 3,402,223 3,488,344 04/24/28 ...... 539,131 538,592 Sequoia Mortgage Trust Tibco Software, Inc. 0.733%, 1M LIBOR + 0.640%, 11/20/34 (a) ...... 188,773 186,703 Term Loan B3, 3.860%, 1M LIBOR + 3.750%, 06/30/26 . . . 584,100 582,761 WaMu Mortgage Pass-Through Certificates Trust Ultimate Software Group, Inc. (The) 0.552%, 1M LIBOR + 0.460%, 04/25/45 (a) ...... 776,088 765,135 Incremental Term Loan, 4.000%, 3M LIBOR + 3.250%, Wells Fargo Mortgage Backed Securities Trust 05/04/26 ...... 139,043 139,304 3.500%, 07/25/47 (144A) (a) ...... 33,566 33,550 Veritas U.S., Inc. 14,683,296 USD Term Loan B, 6.000%, 3M LIBOR + 5.000%, 09/01/25 ...... 322,415 325,317 Commercial Mortgage-Backed Securities—2.3% 6,581,684 BAMLL Commercial Mortgage Securities Trust 2.959%, 12/10/30 (144A) ...... 1,940,000 2,001,512 Telecommunications—0.2% BX Commercial Mortgage Trust Altice France S.A. 0.823%, 1M LIBOR + 0.750%, 11/15/35 (144A) (a) ..... 759,207 759,456 Term Loan B13, 4.155%, 3M LIBOR + 4.000%, 08/14/26 . . 78,746 78,730 0.873%, 1M LIBOR + 0.800%, 12/15/36 (144A) (a) ..... 3,270,545 3,274,643 CCI Buyer, Inc. 0.993%, 1M LIBOR + 0.920%, 10/15/36 (144A) (a) ..... 8,609,076 8,620,322 Term Loan, 4.750%, 3M LIBOR + 4.000%, 12/17/27 ..... 35,152 35,243 1.073%, 1M LIBOR + 1.000%, 11/15/32 (144A) (a) ..... 4,745,046 4,759,912 CommScope, Inc. Commercial Mortgage Trust Term Loan B, 3.346%, 1M LIBOR + 3.250%, 04/06/26 .... 541,729 540,036 3.732%, 08/10/49 (144A) (a) ...... 1,220,000 1,300,333 Global Tel*Link Corp. Greenwich Capital Commercial Mortgage Trust 1st Lien Term Loan, 4.354%, 1M LIBOR + 4.250%, 6.214%, 07/10/38 (a) ...... 357,974 320,387 11/29/25 ...... 836,649 775,295 Wells Fargo Commercial Mortgage Trust LogMeIn, Inc. 2.399%, 11/15/49 ...... 2,692,000 2,694,238 Term Loan B, 4.827%, 1M LIBOR + 4.750%, 08/31/27 .... 304,205 303,983 23,730,803 Zayo Group Holdings, Inc. Term Loan, 3.104%, 1M LIBOR + 3.000%, 03/09/27 ..... 630,101 623,931 Total Mortgage-Backed Securities (Cost $38,150,910) ...... 38,414,099 2,357,218

See accompanying notes to financial statements. BHFTI-87 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—3.7% Municipals—2.0%

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value City & County Honolulu HI Wastewater System Revenue Banks—0.4% 2.233%, 07/01/24 ...... 710,000 $ 742,930 Banque Centrale de Tunisie International Bond Curators of the University of Missouri (The) 5.750%, 01/30/25 (144A) (c) ...... 1,800,000 $ 1,675,080 2.012%, 11/01/27 ...... 2,000,000 2,073,329 Korea Development Bank (The) Massachusetts State College Building Authority 3.375%, 03/12/23 ...... 2,700,000 2,829,681 2.256%, 05/01/26 ...... 760,000 800,773 4,504,761 Metropolitan Transportation Authority 4.000%, 11/15/45 ...... 680,000 793,779 Sovereign—3.3% 5.000%, 09/01/22 ...... 3,510,000 3,702,328 Brazilian Government International Bond New York State Urban Development Corp. 8.750%, 02/04/25 (c) ...... 980,000 1,217,660 2.250%, 03/15/26 ...... 5,950,000 6,241,240 Colombia Government International Bond San Jose Redevelopment Agency Successor Agency 8.125%, 05/21/24 (c) ...... 1,910,000 2,260,141 2.480%, 08/01/21 ...... 650,000 651,175 Dominican Republic International Bond 2.630%, 08/01/22 ...... 2,165,000 2,218,761 8.900%, 02/15/23 (144A) (DOP) ...... 82,600,000 1,519,786 State of Illinois, General Obligation Unlimited Egypt Government International Bond 5.100%, 06/01/33 ...... 865,000 1,017,104 5.750%, 05/29/24 (144A) ...... 1,400,000 1,490,020 State of New Jersey Gabon Government International Bond 3.000%, 06/01/32 ...... 500,000 567,880 6.950%, 06/16/25 (144A) ...... 450,000 487,125 Texas State University System Hungary Government International Bond 2.351%, 03/15/26 ...... 1,385,000 1,463,086 5.375%, 02/21/23 ...... 1,220,000 1,317,961 Total Municipals Indonesia Government International Bond (Cost $19,380,430) ...... 20,272,385 3.700%, 01/08/22 (144A) ...... 2,280,000 2,318,828 Iraq International Bond 5.800%, 01/15/28 (144A) ...... 1,968,750 1,904,352 Mutual Funds—2.0% Kazakhstan Government International Bond 3.875%, 10/14/24 (144A) ...... 2,100,000 2,294,082 Investment Company Securities—2.0% Mexico Government International Bond Invesco Senior Loan ETF (c) 4.150%, 03/28/27 (c) ...... 2,200,000 2,485,934 (Cost $20,379,569) ...... 910,000 20,156,500 Mongolia Government International Bond 8.750%, 03/09/24 (144A) ...... 490,000 563,509 Pakistan Government International Bond Common Stocks—0.1% 8.250%, 09/30/25 (144A) (c) ...... 520,000 575,167 Peruvian Government International Bonds Energy Equipment & Services—0.0% 2.783%, 01/23/31 ...... 600,000 611,256 Weatherford International plc (l) ...... 6,622 120,520 7.350%, 07/21/25 (c) ...... 900,000 1,103,904 Philippine Government International Bond Oil, Gas & Consumable Fuels—0.0% 4.200%, 01/21/24 (c) ...... 600,000 655,862 Fieldwood Energy LLC (l) ...... 625 34,727 Republic of Belarus International Bond Riviera Resources, Inc. (f) (g) (l) ...... 2,835 732 7.625%, 06/29/27 (144A) ...... 1,400,000 1,361,024 35,459 Republic of Poland Government International Bond 5.000%, 03/23/22 ...... 1,550,000 1,602,994 Paper & Forest Products—0.1% Republic of South Africa Government International Bond Appvion,Inc. (f) (g) (l) ...... 38,739 921,957 5.875%, 09/16/25 (c) ...... 2,030,000 2,291,261 Russian Foreign Bond - Eurobond Retail—0.0% 4.875%, 09/16/23 (144A) ...... 1,500,000 1,629,375 KSouth Africa, Ltd. (f) (g) (l) ...... 8,217,950 0 Turkey Government International Bond KSouth Africa, Ltd. (f) (g) (l) ...... 817,800 0 6.375%, 10/14/25 (c) ...... 2,150,000 2,249,889 0 Ukraine Government International Bond 7.375%, 09/25/32 (144A) ...... 1,700,000 1,786,578 Specialty Retail—0.0% Uruguay Government International Bond Party City Holdco, Inc. (c) (l) ...... 13,933 129,995 3.700%, 06/26/37 (UYU) (k) ...... 61,043,251 1,564,886 Total Common Stocks 33,291,594 (Cost $1,448,593) ...... 1,207,931 Total Foreign Government (Cost $38,401,848) ...... 37,796,355

See accompanying notes to financial statements. BHFTI-88 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Warrants—0.0%

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil, Gas & Consumable Fuels—0.0% Repurchase Agreements—(Continued) Battalion Oil Corp., Series A, Expires 10/08/22 (f) (g) (l) ..... 728 $ 206 Citigroup Global Markets, Inc. Battalion Oil Corp., Series B, Expires 10/08/22 (f) (g) (l) ..... 911 145 Repurchase Agreement dated 06/30/21 at 0.060%, due on Battalion Oil Corp., Series C, Expires 10/08/22 (f) (g) (l) ..... 1,171 86 07/01/21 with a maturity value of $2,000,003; collateralized by U.S. Treasury Obligations with rates ranging 437 from 0.125% - 6.125%, maturity dates ranging from 08/15/29 - 02/15/31, and an aggregate market value of Paper & Forest Products—0.0% $2,040,001...... 2,000,000 $ 2,000,000 Verso Corp., Expires 07/25/23 (l) ...... 175 478 Deutsche Bank AG, London Total Warrants Repurchase Agreement dated 06/30/21 at 0.170%, due on 07/01/21 with a maturity value of $400,002; collateralized (Cost $0) ...... 915 by U.S. Treasury and Foreign Obligations with rates ranging from 0.000% - 3.375%, maturity dates ranging from Short-Term Investments—5.1% 02/01/22 - 03/11/31, and an aggregate market value of $408,000...... 400,000 400,000 Discount Note—0.9% HSBC Bank plc Federal Home Loan Bank Repurchase Agreement dated 06/30/21 at 0.100%, due on Zero Coupon, 07/01/21 ...... 9,360,000 9,360,000 07/01/21 with a maturity value of $2,300,006; collateralized by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from Repurchase Agreement—4.2% 08/31/21 - 02/15/50, and an aggregate market value of Fixed Income Clearing Corp. $2,346,945...... 2,300,000 2,300,000 Repurchase Agreement dated 06/30/21 at 0.000%, due on National Bank of Canada 07/01/21 with a maturity value of $42,283,242; Repurchase Agreement dated 06/30/21 at 0.210%, due on collateralized by U.S. Treasury Note at 2.625%, maturing 07/07/21 with a maturity value of $9,000,368; 12/31/23, with a market value of $43,128,945...... 42,283,242 42,283,242 collateralized by various Common Stock with an aggregate Total Short-Term Investments market value of $10,000,058...... 9,000,000 9,000,000 Natwest Market Securities, Inc. (Cost $51,643,242) ...... 51,643,242 Repurchase Agreement dated 06/30/21 at 0.050%, due on 07/01/21 with a maturity value of $2,000,003; Securities Lending Reinvestments (m)—7.9% collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 8.125%, maturity dates ranging from Certificates of Deposit—0.6% 08/15/21 - 05/15/51, and an aggregate market value of Agricultural Bank of China $2,040,003...... 2,000,000 2,000,000 0.100%, 07/01/21 ...... 1,200,000 1,199,999 NBC Global Finance, Ltd. Repurchase Agreement dated 06/30/21 at 0.245%, due on Industrial & Commercial Bank of China Ltd. 07/07/21 with a maturity value of $700,033; collateralized 0.110%, 07/22/21 ...... 2,000,000 1,999,914 by U.S. Treasury Obligations with rates ranging from Oversea-Chinese Banking Corp., Ltd. 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 0.167%, 3M LIBOR + 0.020%, 03/25/22 (a) ...... 1,000,000 1,000,004 02/15/49, and various Common Stock with an aggregate Sumitomo Mitsui Banking Corp. market value of $777,778...... 700,000 700,000 0.158%, 3M LIBOR + 0.030%, 09/10/21 (a) ...... 2,000,000 2,000,048 Repurchase Agreement dated 06/30/21 at 0.260%, due on 6,199,965 07/07/21 with a maturity value of $500,025; collateralized by U.S. Treasury Obligations with rates ranging from Repurchase Agreements—4.3% 2.125% - 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, and various Common Stock with an aggregate Barclays Bank plc market value of $555,654...... 500,000 500,000 Repurchase Agreement dated 06/30/21 at 0.200%, due on Societe Generale 07/01/21 with a maturity value of $2,300,013; Repurchase Agreement dated 06/30/21 at 0.180%, due on collateralized by various Common Stock with an aggregate 07/01/21 with a maturity value of $13,600,068; market value of $2,555,752...... 2,300,000 2,300,000 collateralized by various Common Stock with an aggregate Barclays Capital, Inc. market value of $15,111,426...... 13,600,000 13,600,000 Repurchase Agreement dated 06/30/21 at 0.030%, due on Repurchase Agreement dated 06/30/21 at 0.185%, due on 07/01/21 with a maturity value of $9,300,003; 07/01/21 with a maturity value of $1,200,006; collateralized by U.S. Treasury Obligations at 0.000%, collateralized by various Common Stock with an aggregate maturity dates ranging from 05/15/29 - 11/15/43, and an market value of $1,333,376...... 1,200,000 1,200,000 aggregate market value of $9,485,995...... 9,299,995 9,299,995 43,299,995

See accompanying notes to financial statements. BHFTI-89 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (m)—(Continued)

Shares/ (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Principal Maturity date shown for callable securities reflects the earliest possible call date. For Security Description Amount* Value 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 Time Deposits—0.5% determined by the issuer/agent based on current market conditions. For certain asset- ABN AMRO Bank NV and mortgage-backed securities, the coupon rate may fluctuate based on changes of the 0.080%, 07/01/21 ...... 2,000,000 $ 2,000,000 underlying collateral or prepayments of principal. These securities do not indicate a Landesbank Baden-Wuettertemberg (London) reference index and spread in their description above. 0.130%, 07/01/21 ...... 400,000 400,000 (b) TBA (To Be Announced) Securities are purchased on a forward commitment basis with 0.130%, 07/01/21 ...... 2,000,000 2,000,000 an approximate principal amount and no defined maturity date. The actual principal National Bank of Canada and maturity date will be determined upon settlement date. 0.130%, OBFR + 0.050%, 07/07/21 (a) ...... 1,000,000 1,000,000 (c) All or a portion of the security was held on loan. As of June 30, 2021, the market value 5,400,000 of securities loaned was $81,416,744 and the collateral received consisted of cash in the amount of $79,899,995 and non-cash collateral with a value of $3,962,579. The Mutual Funds—2.5% cash collateral investments are disclosed in the Schedule of Investments and categorized BlackRock Liquidity Funds FedFund, Institutional Shares as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. 0.030% (n) ...... 10,000,000 10,000,000 government securities that are held in safe-keeping by the lending agent, or a third- Goldman Sachs Financial Square Government Fund, party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral Institutional Shares is excluded from the Statement of Assets and Liabilities. 0.020% (n) ...... 2,000,000 2,000,000 (d) All or a portion of the security was pledged as collateral against open centrally cleared STIT-Government & Agency Portfolio, Institutional Class swap contracts. As of June 30, 2021, the market value of securities pledged was 0.030% (n) ...... 10,000,000 10,000,000 $3,855,219. Wells Fargo Government Money Market Fund, Select Class (e) Payment-in-kind security for which part of the income earned may be paid as additional 0.030% (n) ...... 3,000,000 3,000,000 principal. (f) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. 25,000,000 Level 3. Total Securities Lending Reinvestments (g) Security was valued in good faith under procedures approved by the Board of Trustees. (Cost $79,899,995) ...... 79,899,960 As of June 30, 2021, these securities represent 0.2% of net assets. (h) Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows Total Investments—109.7% or permit the borrowers to repay at their election. The degree to which borrowers repay, (Cost $1,109,892,583) ...... 1,110,673,449 whether as a contractual requirement or at their election, cannot be predicted with Unfunded Loan Commitments—(0.0)% accuracy. As a result, the actual remaining maturity may be substantially less than the (Cost $(171,280)) ...... (171,280) stated maturities shown. However, Senior Loans will generally have an expected Net Investments—109.7% average life of approximately two to four years. Senior Loans typically have rates of (Cost $1,109,721,303) ...... 1,110,502,169 interest which are determined periodically by reference to a base lending rate, plus a Other assets and liabilities (net)—(9.7)% ...... (98,059,044) spread. These base rates are primarily the London Interbank Offered Rate and Net Assets—100.0% ...... $1,012,443,125 secondarily, the prime rate offered by one or more major United States banks. Base lending rates may be subject to a floor, or a minimum rate. (i) This loan will settle after June 30, 2021, at which time the interest rate will be * Principal amount stated in U.S. dollars unless otherwise noted. determined. † Restricted securities are not registered under the Securities Act of 1933 and are subject (j) Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain to legal restrictions on resale. These securities generally may be resold in transactions credit agreements for which all or a portion may be unfunded. The Portfolio is obligated exempt from registration or to the public if the securities are subsequently registered. to fund these commitments at the borrower’s discretion. Disposal of these securities may involve time-consuming negotiations and prompt sale (k) Principal amount of security is adjusted for inflation. at an acceptable price may be difficult. As of June 30, 2021, the market value of (l) Non-income producing security. restricted securities was $0, which is 0.0% of net assets. See details shown in the (m) Represents investment of cash collateral received from securities on loan as of June 30, Restricted Securities table that follows. 2021. (n) The rate shown represents the annualized seven-day yield as of June 30, 2021. (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 June 30, 2021, the market value of 144A securities was $263,743,104, which is 26.1% of net assets.

Acquisition Principal Restricted Securities Date Amount Cost Value KSouth Africa, Ltd., 25.000%, 12/31/22 ...... 12/22/16-12/31/18 $ 220,336 $ 220,336 $ 0 KSouth Africa, Ltd., 3.000%, 12/31/22 ...... 04/15/13-12/31/18 681,075 1,341,137 0 $0

See accompanying notes to financial statements. BHFTI-90 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) AUD 1,320,000 JPMC ...... 07/06/21 USD 1,026,333 $ (36,376) AUD 1,260,000 JPMC ...... 07/28/21 USD 970,421 (25,359) CAD 3,940,000 JPMC ...... 07/08/21 USD 3,087,629 90,793 CNH 5,500,000 JPMC ...... 09/17/21 USD 834,889 11,093 EUR 253,765 BBP ...... 08/31/21 USD 299,732 1,534 EUR 322,067 CBNA ...... 08/31/21 USD 380,689 1,663 EUR 400,000 JPMC ...... 08/31/21 USD 472,848 2,025 JPY 505,000,000 JPMC ...... 07/07/21 USD 4,874,682 (328,853) JPY 161,000,000 JPMC ...... 12/29/21 USD 1,452,001 156 KRW 1,080,000,000 JPMC ...... 07/28/21 USD 976,757 (17,883) SGD 1,300,000 JPMC ...... 07/28/21 USD 978,916 (12,157) TRY 1,910,000 JPMC ...... 09/28/21 USD 201,264 8,499 TRY 3,235,000 JPMC ...... 09/28/21 USD 340,885 14,395

Contracts to Deliver AUD 1,320,000 JPMC ...... 07/06/21 USD 1,023,092 33,136 CAD 3,940,000 JPMC ...... 07/08/21 USD 3,084,608 (93,815) CAD 1,010,000 JPMC ...... 12/16/21 USD 819,975 5,118 EUR 253,765 BBP ...... 08/31/21 USD 303,734 2,468 EUR 322,067 CBNA ...... 08/31/21 USD 385,230 2,877 EUR 400,000 JPMC ...... 08/31/21 USD 478,722 3,848 EUR 730,000 JPMC ...... 12/14/21 USD 874,668 5,914 JPY 222,000,000 JPMC ...... 07/07/21 USD 2,037,374 39,010 JPY 161,000,000 JPMC ...... 07/07/21 USD 1,449,745 481 JPY 122,000,000 JPMC ...... 07/07/21 USD 1,128,663 30,463 Net Unrealized Depreciation ...... $(260,970)

Futures Contracts Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) U.S. Treasury Note 2 Year Futures ...... 09/30/21 734 USD 161,715,109 $(239,427)

Futures Contracts—Short U.S. Treasury Note 10 Year Futures ...... 09/21/21 (348) USD (46,110,000) (139,264) U.S. Treasury Note 5 Year Futures ...... 09/30/21 (245) USD (30,240,274) 108,400 U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 (55) USD (8,096,172) (104,605) Net Unrealized Depreciation ...... $(374,896)

Swap Agreements OTC Cross-Currency Swaps Notional Notional Upfront Amount of Amount of Premium Unrealized Maturity Currency Currency Market Paid/ Appreciation/ Receive Pay Date(a) Counterparty Received Delivered Value (Received) (Depreciation) Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 06/29/22 CBNA USD 8,527,540 EUR 7,166,000 $ 28,643 $(9,673) $ 38,316 0.938% based on the notional amount plus 0.880% based on the notional of currency received ...... amount of currency delivered Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 12/10/21 CBNA USD 9,879,000 EUR 8,900,000 (674,809) — (674,809) 1.174% based on the notional amount plus 1.050% based on the notional of currency received ...... amount of currency delivered Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 11/22/21 CBNA USD 8,840,000 EUR 8,000,000 (643,902) — (643,902) 1.175% based on the notional amount plus 1.050% based on the notional of currency received ...... amount of currency delivered

See accompanying notes to financial statements. BHFTI-91 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) OTC Cross-Currency Swaps—(Continued) Notional Notional Upfront Amount of Amount of Premium Unrealized Maturity Currency Currency Market Paid/ Appreciation/ Receive Pay Date(a) Counterparty Received Delivered Value (Received) (Depreciation) Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 10/30/21 CBNA USD 4,551,000 EUR 4,100,000 $ (310,172) $ — $ (310,172) 1.250% based on the notional amount plus 1.100% based on the notional of currency received ...... amount of currency delivered Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 12/12/21 CBNA USD 5,439,000 EUR 4,900,000 (372,001) — (372,001) 1.318% based on the notional amount plus 1.200% based on the notional of currency received ...... amount of currency delivered Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 07/10/21 CBNA USD 1,120,000 EUR 1,000,000 (65,782) (1,000) (64,782) 1.334% based on the notional amount plus 1.120% based on the notional of currency received ...... amount of currency delivered Floating rate equal to 3M USD-LIBOR plus Floating rate equal to 3M EURIBOR 08/12/21 CBNA USD 1,120,000 EUR 1,000,000 (64,600) 1,250 (65,850) 1.810% based on the notional amount plus 1.600% based the notional of currency received ...... amount of currency delivered Totals ...... $(2,102,623) $(9,423) $(2,093,200)

(a) At the maturity date, the notional amount of the currency received will be exchanged back for the notional amount of the currency delivered.

Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay...... 3MLIBOR Quarterly 3.000% Semi-Annually 09/18/21 USD 67,050,000 $ 427,880 $57,786 $ 370,094 Receive ...... 12MCPURNSA Maturity 1.893% Maturity 01/15/27 USD 21,850,000 1,090,722 — 1,090,722 Totals ...... $1,518,602 $57,786 $1,460,816

Centrally Cleared Credit Default Swaps on Credit Indices—Sell Protection (d) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premiums Appreciation/ Reference Obligation Receive Rate Frequency Date 2021(b) Amount(c) Value Paid/(Received) (Depreciation) CDX.NA.HY.33.V2 ...... 5.000% Quarterly 12/20/24 2.046% USD 676,400 $ 66,590 $25,295 $ 41,295 CDX.NA.HY.33.V2 ...... 5.000% Quarterly 12/20/24 2.046% USD 623,000 61,333 (11,356) 72,689 CDX.NA.HY.33.V2 ...... 5.000% Quarterly 12/20/24 2.046% USD 5,785,000 569,520 (61,997) 631,517 ITRX.EUR.35.V1 ...... 1.000% Quarterly 06/20/26 0.468% EUR 4,000,000 126,403 106,708 19,695 Totals ...... $823,846 $58,650 $765,196

OTC Credit Default Swaps on Corporate Issues—Buy Protection (a) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premium Appreciation/ Reference Obligation (Pay) Rate Frequency Date Counterparty 2021(b) Amount(c) Value Paid/(Received) (Depreciation) Avon Products, Inc. 5.000%, due 03/15/23 ...... (5.000%) Quarterly 03/20/23 CBNA 1.284% USD 950,000 $(60,602) $(47,613) $(12,989) Avon Products, Inc. 5.000%, due 03/15/23 ...... (5.000%) Quarterly 03/20/23 CBNA 1.284% USD 950,000 (60,602) (47,560) (13,042) Nabors Industries, Inc. 5.500%, due 01/15/23 ...... (1.000%) Quarterly 12/20/21 CBNA 3.425% USD 875,000 10,082 5,242 4,840 Nabors Industries, Inc. 5.500%, due 01/15/23 ...... (1.000%) Quarterly 12/20/21 CBNA 3.425% USD 575,000 6,626 5,199 1,427 Nabors Industries, Inc. 5.500%, due 01/15/23 ...... (1.000%) Quarterly 12/20/21 CBNA 3.425% USD 425,000 4,897 2,465 2,432 Totals ...... $(99,599) $(82,267) $(17,332)

See accompanying notes to financial statements. BHFTI-92 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) OTC Credit Default Swaps on Corporate Issues—Sell Protection (d) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premium Appreciation/ Reference Obligation Receive Rate Frequency Date Counterparty 2021(b) Amount(c) Value Paid/(Received) (Depreciation) Air-France KLM S.A. 3.875%, due 06/18/21 ..... 5.000% Quarterly 12/20/25 JPMC 3.942% EUR 480,000 $ 24,138 $ (2,846) $ 26,984 Air-France KLM S.A. 1.875% due 01/16/25 ..... 5.000% Quarterly 06/20/26 JPMC 4.024% EUR 760,000 38,513 13,289 25,224 American Airlines Group, Inc. 5.000%, due 06/01/22 ..... 5.000% Quarterly 12/20/21 CBNA 1.383% USD 585,000 9,221 (18,683) 27,904 American Airlines Group, Inc. 5.000%, due 06/01/22 ..... 5.000% Quarterly 06/20/22 JPMC 3.757% USD 400,000 4,788 (3,679) 8,467 Carnival Corp. 6.650%, due 01/15/28 ..... 1.000% Quarterly 12/20/25 CBNA 3.252% USD 585,000 (54,509) (81,906) 27,397 Macy’s Retail Holdings LLC 3.625%, due 06/01/24 ..... 1.000% Quarterly 12/20/25 JPMC 2.556% USD 585,000 (38,352) (97,560) 59,208 Nabors Industries, Inc. 5.500%, due 01/15/23 ..... 1.000% Quarterly 12/20/23 CBNA 4.575% USD 425,000 (35,768) (29,032) (6,736) Nabors Industries, Inc. 5.500%, due 01/15/23 ..... 1.000% Quarterly 12/20/23 CBNA 4.575% USD 575,000 (48,392) (48,791) 399 Nabors Industries, Inc. 5.500%, due 01/15/23 ..... 1.000% Quarterly 12/20/23 CBNA 4.575% USD 875,000 (73,639) (61,127) (12,512) Nordstrom, Inc. 6.950%, due 03/15/28 ..... 1.000% Quarterly 06/20/26 CBNA 2.186% USD 1,200,000 (66,676) (77,788) 11,112 Nordstrom, Inc. 6.950%, due 03/15/28 ..... 1.000% Quarterly 06/20/26 JPMC 2.186% USD 1,200,000 (66,676) (59,596) (7,080) Royal Caribbean Cruises, Ltd. 5.250%, due 11/15/22 ..... 5.000% Quarterly 12/20/25 BBP 3.170% USD 585,000 43,680 (15,601) 59,281 United Airlines Holdings, Inc. 5.000%, due 02/01/24 ..... 5.000% Quarterly 12/20/25 CSI 3.365% USD 47,000 3,141 — 3,141 Totals ...... $(260,531) $(483,320) $222,789

OTC Credit Default Swaps on Credit Indices—Sell Protection (d) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premium Appreciation/ Reference Obligation(e) Receive Rate Frequency Date Counterparty 2021(b) Amount(c) Value Paid/(Received) (Depreciation) Bespoke Kona 0-5% CDX Tranche ...... 1.000% Quarterly 12/20/22 CBNA 18.416% USD 1,000,000 $(242,049) $(204,361) $(37,688) Bespoke Kona 5-10% CDX Tranche ...... 0.000% Quarterly 12/20/22 CBNA 2.371% USD 2,500,000 1,613 — 1,613 Bespoke Palm Beach 5-10% CDX Tranche ...... 0.000% Quarterly 12/20/22 CBNA 1.881% USD 3,300,000 2,735 — 2,735 Bespoke Phoenix 5-7% CDX Tranche ...... 2.900% Quarterly 12/20/21 CBNA 0.562% USD 900,000 10,607 — 10,607 Totals ...... $(227,094) $(204,361) $(22,733)

Cash in the amount of $10,000 has been received at the custodian bank and held in a segregated account as collateral for OTC swap contracts. (a) If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. (b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation. (c) The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation.

See accompanying notes to financial statements. BHFTI-93 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

(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. (e) Represents a custom index comprised of a basket of underlying issues.

Glossary of Abbreviations

Counterparties (BBP)— Barclays Bank plc (CSI)— Credit Suisse International (CBNA)— Citibank N.A. (JPMC)— JPMorgan Chase Bank N.A.

Currencies (AUD)— Australian Dollar (EUR)— Euro (TRY)— Turkish Lira (CAD)— Canadian Dollar (JPY)— Japanese Yen (USD)— United States Dollar (CNH)— Chinese Renminbi (KRW)— South Korean Won (UYU)— Uruguayan Peso (DOP)— Dominican Peso (SGD)— Singapore Dollar

Index Abbreviations (CDX.NA.HY)— Markit North America High Yield CDS Index (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (OBFR)— U.S. Overnight Bank Funding Rate (CPURNSA)— U.S. Consumer Price Index for All Urban Maturity Index (PRIME)— U.S. Federal Reserve Prime Rate Consumers Non-Seasonally Adjusted (ITRX.EUR)— Markit iTraxx Europe CDS Index (SOFR)— Secured Overnight Financing Rate (EURIBOR)— Euro InterBank Offered Rate (LIBOR)— London Interbank Offered Rate

Other Abbreviations (ARM)— Adjustable-Rate Mortgage (CMO)— Collateralized Mortgage Obligation (REMIC)— Real Estate Mortgage Investment Conduit (CLO)— Collateralized Loan Obligation (ETF)— Exchange-Traded Fund

See accompanying notes to financial statements. BHFTI-94 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy

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

Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $— $425,837,772 $— $425,837,772 Corporate Bonds & Notes Aerospace/Defense ...... — 7,150,625 — 7,150,625 Agriculture ...... — 2,615,836 — 2,615,836 Airlines ...... — 7,807,068 — 7,807,068 Auto Manufacturers ...... — 428,800 — 428,800 Banks ...... — 56,632,036 — 56,632,036 Beverages ...... — 5,139,454 — 5,139,454 Biotechnology ...... — 688,930 — 688,930 Chemicals ...... — 4,170,231 — 4,170,231 Computers ...... — 1,525,320 — 1,525,320 Cosmetics/Personal Care ...... — 3,756,206 — 3,756,206 Diversified Financial Services ...... — 6,782,833 — 6,782,833 Electric ...... — 15,565,948 — 15,565,948 Electrical Components & Equipment ...... — 1,188,770 — 1,188,770 Electronics ...... — 2,753,211 — 2,753,211 Entertainment ...... — 2,678,335 — 2,678,335 Food ...... — 2,325,780 — 2,325,780 Healthcare-Services ...... — 5,882,081 — 5,882,081 Insurance ...... — 984,251 — 984,251 Internet ...... — 15,941,237 — 15,941,237 Leisure Time ...... — 1,878,941 — 1,878,941 Lodging ...... — 1,459,642 — 1,459,642 Machinery-Construction & Mining ...... — 759,500 — 759,500 Media ...... — 15,666,090 — 15,666,090 Miscellaneous Manufacturing ...... — 108,752 — 108,752 Multi-National ...... — 1,446,214 — 1,446,214 Oil&Gas...... — 18,531,950 — 18,531,950 Oil & Gas Services ...... — 206,960 — 206,960 Packaging & Containers ...... — 4,063,959 — 4,063,959 Pharmaceuticals ...... — 18,896,263 — 18,896,263 Pipelines ...... — 14,209,445 — 14,209,445 Real Estate ...... — 235,718 — 235,718 Real Estate Investment Trusts ...... — 2,243,428 — 2,243,428 Retail ...... — 3,567,435 0 3,567,435 Semiconductors ...... — 3,353,828 — 3,353,828 Software ...... — 1,037,332 — 1,037,332 Telecommunications ...... — 13,812,271 — 13,812,271 Trucking & Leasing ...... — 598,782 — 598,782 Total Corporate Bonds & Notes ...... — 246,093,462 0 246,093,462 Total Asset-Backed Securities* ...... — 143,676,854 — 143,676,854

See accompanying notes to financial statements. BHFTI-95 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Floating Rate Loans Advertising ...... $ — $ 290,342 $ — $ 290,342 Aerospace/Defense ...... — 1,255,455 — 1,255,455 Airlines ...... — 2,295,370 — 2,295,370 Apparel ...... — 293,488 — 293,488 Auto Manufacturers ...... — 978,919 — 978,919 Auto Parts & Equipment ...... — 855,003 — 855,003 Beverages ...... — 305,333 — 305,333 Chemicals ...... — 1,466,405 — 1,466,405 Commercial Services ...... — 2,720,704 — 2,720,704 Computers ...... — 1,334,851 — 1,334,851 Cosmetics/Personal Care ...... — 909,877 — 909,877 Diversified Financial Services ...... — 1,769,590 — 1,769,590 Electric ...... — 23,757 — 23,757 Engineering & Construction ...... — 469,979 — 469,979 Entertainment ...... — 1,294,115 — 1,294,115 Environmental Control ...... — 121,122 — 121,122 Healthcare-Services ...... — 1,511,411 — 1,511,411 Home Builders ...... — 1,683,999 — 1,683,999 Home Furnishings ...... — 235,164 — 235,164 Insurance ...... — 2,241,403 — 2,241,403 Internet ...... — 287,828 — 287,828 Leisure Time ...... — 861,359 — 861,359 Lodging ...... — 1,547,995 — 1,547,995 Machinery-Diversified ...... — 386,040 — 386,040 Media ...... — 2,933,024 — 2,933,024 Metal Fabricate/Hardware ...... — 616,600 — 616,600 Mining ...... — 238,490 — 238,490 Office/Business Equipment ...... — 450,554 — 450,554 Oil & Gas (Less Unfunded Loan Commitments of $171,280) ...... — 851,947 166,769 1,018,716 Oil & Gas Services ...... — — 616,872 616,872 Packaging & Containers ...... — 1,080,200 — 1,080,200 Pharmaceuticals ...... — 1,522,871 — 1,522,871 Real Estate ...... — 305,569 — 305,569 Retail ...... — 2,372,606 — 2,372,606 Software ...... — 6,581,684 — 6,581,684 Telecommunications ...... — 2,357,218 — 2,357,218 Transportation ...... — 268,781 — 268,781 Total Floating Rate Loans (Less Unfunded Loan Commitments of $171,280) ...... — 44,719,053 783,641 45,502,694 Total Mortgage-Backed Securities* ...... — 38,414,099 — 38,414,099 Total Foreign Government* ...... — 37,796,355 — 37,796,355 Total Municipals* ...... — 20,272,385 — 20,272,385 Total Mutual Funds* ...... 20,156,500 — — 20,156,500 Common Stocks Energy Equipment & Services ...... 120,520 — — 120,520 Oil, Gas & Consumable Fuels ...... — 34,727 732 35,459 Paper & Forest Products ...... — — 921,957 921,957 Retail ...... — — 0 0 Specialty Retail ...... 129,995 — — 129,995 Total Common Stocks ...... 250,515 34,727 922,689 1,207,931 Warrants Oil, Gas & Consumable Fuels ...... — — 437 437 Paper & Forest Products ...... 478 — — 478 Total Warrants ...... 478 — 437 915 Total Short-Term Investments* ...... — 51,643,242 — 51,643,242

See accompanying notes to financial statements. BHFTI-96 Brighthouse Funds Trust I Brighthouse/Franklin Low Duration Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Securities Lending Reinvestments Certificates of Deposit ...... $ — $ 6,199,965 $ — $ 6,199,965 Repurchase Agreements ...... — 43,299,995 — 43,299,995 Time Deposits ...... — 5,400,000 — 5,400,000 Mutual Funds ...... 25,000,000 — — 25,000,000 Total Securities Lending Reinvestments ...... 25,000,000 54,899,960 — 79,899,960 Total Net Investments ...... $45,407,493 $1,063,387,909 $1,706,767 $1,110,502,169 Collateral for Securities Loaned (Liability) ...... $ — $ (79,899,995) $ — $ (79,899,995) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 253,473 $ — $ 253,473 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (514,443) — (514,443) Total Forward Contracts ...... $ — $ (260,970) $ — $ (260,970) Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 108,400 $ — $ — $ 108,400 Futures Contracts (Unrealized Depreciation) ...... (483,296) — — (483,296) Total Futures Contracts ...... $ (374,896) $ — $ — $ (374,896) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 2,226,012 $ — $ 2,226,012 OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 188,684 $ — $ 188,684 OTC Swap Contracts at Value (Liabilities) ...... — (2,878,531) — (2,878,531) Total OTC Swap Contracts ...... $ — $ (2,689,847) $ — $ (2,689,847)

* 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 June 30, 2021 is not presented.

See accompanying notes to financial statements. BHFTI-97 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—70.8% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Argentina—2.2% Ghana—(Continued) Argentina Treasury Bonds Ghana Government Bonds 1.000%, 08/05/21 (ARS) (b) ...... 63,397,400 $ 622,459 19.750%, 03/15/32 (GHS) ...... 18,788,000 $ 3,279,475 1.200%, 03/18/22 (ARS) (b) ...... 654,142,847 5,178,692 24.750%, 07/19/21 (GHS) ...... 1,490,000 254,022 1.300%, 09/20/22 (ARS) (b) ...... 5,948,000 52,125 11,859,250 1.400%, 03/25/23 (ARS) (b) ...... 438,949,838 3,904,555 1.500%, 03/25/24 (ARS) (b) ...... 391,845,470 3,273,140 India—4.4% Argentine Bonos del Tesoro India Government Bonds 15.500%, 10/17/26 (ARS) ...... 693,671,000 1,887,062 5.150%, 11/09/25 (INR) ...... 139,600,000 1,843,590 16.000%, 10/17/23 (ARS) ...... 387,123,400 1,526,425 5.220%, 06/15/25 (INR) ...... 137,000,000 1,818,155 18.200%, 10/03/21 (ARS) ...... 329,017,000 2,001,234 6.790%, 05/15/27 (INR) ...... 1,478,610,000 20,538,561 Bonos del Tesoro Nacional en Pesos Badlar 7.270%, 04/08/26 (INR) ...... 94,000,000 1,332,794 36.104%, BADLAR + 2.000%, 04/03/22 (ARS) (a) ..... 20,147,000 134,515 7.590%, 01/11/26 (INR) ...... 1,012,000,000 14,498,068 Letras de la Nacion Argentina con Ajuste por CER 7.680%, 12/15/23 (INR) ...... 80,000,000 1,145,106 Zero Coupon, 09/13/21 (ARS) (b) (c) ...... 44,695,929 344,079 8.200%, 09/24/25 (INR) ...... 71,900,000 1,054,729 Zero Coupon, 02/28/22 (ARS) (b) (c) ...... 74,130,170 494,186 42,231,003 0.726%, 04/18/22 (ARS) (b) (c) ...... 207,221,600 1,327,527 20,745,999 Indonesia—10.4% Indonesia Treasury Bonds Brazil—3.4% 5.500%, 04/15/26 (IDR) ...... 413,500,000,000 28,614,200 Brazil Letras do Tesouro Nacional 5.625%, 05/15/23 (IDR) ...... 112,587,000,000 7,933,889 4.564%, 01/01/24 (BRL) (c) ...... 31,000,000 5,149,085 6.500%, 06/15/25 (IDR) ...... 5,160,000,000 373,072 4.933%, 07/01/24 (BRL) (c) ...... 108,360,000 17,244,127 7.000%, 05/15/22 (IDR) ...... 360,607,000,000 25,630,951 Brazil Notas do Tesouro Nacional 8.375%, 03/15/24 (IDR) ...... 17,893,000,000 1,347,244 10.000%, 01/01/25 (BRL) ...... 17,920,000 3,799,971 10.000%, 09/15/24 (IDR) ...... 122,770,000,000 9,631,016 10.000%, 01/01/27 (BRL) ...... 7,710,000 1,642,534 12.900%, 06/15/22 (IDR) ...... 341,823,000,000 25,638,375 10.000%, 01/01/29 (BRL) ...... 7,710,000 1,646,585 99,168,747 10.000%, 01/01/31 (BRL) ...... 12,310,000 2,606,817 32,089,119 Japan—13.0% Japan Treasury Bills Colombia—3.5% Zero Coupon, 07/19/21 (JPY) (c) ...... 1,800,300,000 16,205,857 Colombian TES Zero Coupon, 08/10/21 (JPY) (c) ...... 4,871,000,000 43,850,268 5.750%, 11/03/27 (COP) ...... 8,486,000,000 2,165,296 Zero Coupon, 08/25/21 (JPY) (c) ...... 5,601,900,000 50,432,196 6.250%, 11/26/25 (COP) ...... 12,336,000,000 3,332,803 Zero Coupon, 09/13/21 (JPY) (c) ...... 798,800,000 7,191,748 7.000%, 05/04/22 (COP) ...... 653,000,000 179,762 Zero Coupon, 12/10/21 (JPY) (c) ...... 681,800,000 6,140,184 7.000%, 06/30/32 (COP) ...... 7,946,000,000 2,062,628 123,820,253 7.500%, 08/26/26 (COP) ...... 21,931,000,000 6,186,873 7.750%, 09/18/30 (COP) ...... 40,473,100,000 11,234,224 Mexico—10.5% 10.000%, 07/24/24 (COP) ...... 26,419,000,000 8,022,793 Mexican Bonos 33,184,379 6.500%, 06/09/22 (MXN) ...... 285,840,000 14,474,540 6.750%, 03/09/23 (MXN) ...... 259,469,000 13,249,137 Ghana—1.2% 7.250%, 12/09/21 (MXN) ...... 265,450,000 13,438,157 Ghana Government Bonds 8.000%, 12/07/23 (MXN) ...... 256,957,000 13,504,229 16.500%, 02/06/23 (GHS) ...... 13,400,000 2,280,959 10.000%, 12/05/24 (MXN) ...... 134,690,000 7,545,991 17.600%, 11/28/22 (GHS) ...... 11,600,000 2,001,419 Mexico Cetes 17.600%, 02/20/23 (GHS) ...... 4,457,000 770,093 0.959%, 10/21/21 (MXN) (c) ...... 24,729,000 122,332 17.700%, 03/18/24 (GHS) ...... 1,450,000 250,779 1.392%, 01/13/22 (MXN) (c) ...... 4,337,937,000 21,198,563 18.250%, 07/25/22 (GHS) ...... 5,170,000 894,814 2.185%, 06/02/22 (MXN) (c) ...... 3,403,600,000 16,265,190 18.300%, 03/02/26 (GHS) ...... 810,000 138,904 99,798,139 18.750%, 01/24/22 (GHS) ...... 680,000 117,180 18.850%, 09/28/23 (GHS) ...... 3,650,000 648,267 Norway—3.5% 19.000%, 09/18/23 (GHS) ...... 680,000 120,732 Norway Government Bonds 19.250%, 11/27/23 (GHS) ...... 1,820,000 325,504 1.500%, 02/19/26 (144A) (NOK) ...... 20,165,000 2,383,220 19.500%, 10/18/21 (GHS) ...... 4,530,000 777,102 1.750%, 03/13/25 (144A) (NOK) ...... 33,998,000 4,054,892

See accompanying notes to financial statements. BHFTI-98 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—(Continued) Securities Lending Reinvestments (e)—4.6%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Norway—(Continued) Certificate of Deposit—0.0% Norway Government Bonds Agricultural Bank of China 2.000%, 05/24/23 (144A) (NOK) ...... 119,955,000 $ 14,285,603 0.100%, 07/01/21 ...... 300,000 $ 300,000 3.000%, 03/14/24 (144A) (NOK) ...... 100,903,000 12,380,500 33,104,215 Repurchase Agreements—2.8% Barclays Bank plc Singapore—4.5% Repurchase Agreement dated 06/30/21 at 0.200%, due Monetary Authority of Singapore Bills on 07/01/21 with a maturity value of $1,300,007; 0.014%, 07/16/21 (SGD) (c) ...... 14,440,000 10,737,284 collateralized by various Common Stock with an aggregate 0.034%, 08/13/21 (SGD) (c) ...... 3,080,000 2,289,733 market value of $1,444,555...... 1,300,000 1,300,000 0.037%, 08/20/21 (SGD) (c) ...... 20,560,000 15,283,856 Barclays Capital, Inc. Singapore Treasury Bill Repurchase Agreement dated 06/30/21 at 0.030%, due 0.039%, 08/24/21 (SGD) (c) ...... 19,330,000 14,369,037 on 07/01/21 with a maturity value of $8,082,347; collateralized by U.S. Treasury Obligations at 0.000%, 42,679,910 maturity dates ranging from 05/15/29 - 11/15/43, and an aggregate market value of $8,243,987...... 8,082,340 8,082,340 South Korea—14.2% Cantor Fitzgerald & Co. Korea Monetary Stabilization Bond Repurchase Agreement dated 06/30/21 at 0.050%, due 0.905%, 04/02/23 (KRW) ...... 34,690,000,000 30,590,929 on 07/01/21 with a maturity value of $2,000,003; Korea Treasury Bonds collateralized by U.S. Government Agency Obligations with 0.875%, 12/10/23 (KRW) ...... 27,639,000,000 24,233,390 rates ranging from 0.920% - 7.500%, maturity dates 1.125%, 06/10/24 (KRW) ...... 7,685,000,000 6,759,250 ranging from 11/01/23 - 06/20/71, and an aggregate 1.250%, 12/10/22 (KRW) ...... 64,900,000,000 57,712,295 market value of $2,040,000...... 2,000,000 2,000,000 1.875%, 03/10/22 (KRW) ...... 18,459,000,000 16,498,771 Deutsche Bank AG, London 135,794,635 Repurchase Agreement dated 06/30/21 at 0.170%, due on 07/01/21 with a maturity value of $400,002; Total Foreign Government collateralized by U.S. Treasury and Foreign Obligations with (Cost $779,597,855) ...... 674,475,649 rates ranging from 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 03/11/31, and an aggregate U.S. Treasury & Government Agencies—16.2% market value of $408,000...... 400,000 400,000 HSBC Bank plc U.S. Treasury—16.2% Repurchase Agreement dated 06/30/21 at 0.100%, due U.S. Treasury Notes on 07/01/21 with a maturity value of $2,300,006; 1.500%, 09/30/21 ...... 12,532,000 12,577,012 collateralized by U.S. Treasury Obligations with rates 1.500%, 10/31/21 ...... 6,766,100 6,798,504 ranging from 0.099% - 6.125%, maturity dates ranging 1.500%, 09/30/24 (d) ...... 33,000,000 34,045,430 from 08/31/21 - 02/15/50, and an aggregate market 1.500%, 10/31/24 (d) ...... 15,650,000 16,148,844 value of $2,346,945...... 2,300,000 2,300,000 1.750%, 12/31/24 ...... 52,891,000 55,039,697 National Bank of Canada 2.125%, 12/31/21 (d) ...... 10,000,000 10,102,344 Repurchase Agreement dated 06/30/21 at 0.210%, due 2.875%, 05/31/25 ...... 17,750,000 19,269,843 on 07/07/21 with a maturity value of $3,000,123; collateralized by various Common Stock with an aggregate Total U.S. Treasury & Government Agencies market value of $3,333,353...... 3,000,000 3,000,000 (Cost $151,153,601) ...... 153,981,674 NBC Global Finance, Ltd. Repurchase Agreement dated 06/30/21 at 0.245%, due Short-Term Investment—11.3% on 07/07/21 with a maturity value of $600,029; collateralized by U.S. Treasury Obligations with rates Repurchase Agreement—11.3% ranging from 1.875% - 3.000%, maturity dates ranging Fixed Income Clearing Corp. from 07/31/22 - 02/15/49, and various Common Stock Repurchase Agreement dated 06/30/21 at 0.000%, due with an aggregate market value of $666,667...... 600,000 600,000 on 07/01/21 with a maturity value of $108,154,381; Repurchase Agreement dated 06/30/21 at 0.260%, due collateralized by U.S. Treasury Notes with rates ranging on 07/07/21 with a maturity value of $2,600,131; from 0.125% - 2.375%, maturity dates ranging from collateralized by U.S. Treasury Obligations with rates 01/15/24 - 02/29/24, and an aggregate market value of ranging from 2.125% - 3.875%, maturity dates ranging $110,317,492...... 108,154,381 108,154,381 from 12/31/23 - 04/15/29, and various Common Stock with an aggregate market value of $2,889,399...... 2,600,000 2,600,000 Total Short-Term Investments (Cost $108,154,381) ...... 108,154,381

See accompanying notes to financial statements. BHFTI-99 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (e)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Security Description Amount* Value 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 Repurchase Agreements—(Continued) indicated in the description above. For certain variable rate securities, the coupon rate is Societe Generale determined by the issuer/agent based on current market conditions. For certain asset- Repurchase Agreement dated 06/30/21 at 0.180%, due and mortgage-backed securities, the coupon rate may fluctuate based on changes of the on 07/01/21 with a maturity value of $5,000,025; underlying collateral or prepayments of principal. These securities do not indicate a collateralized by various Common Stock with an aggregate reference index and spread in their description above. market value of $5,555,671...... 5,000,000 $ 5,000,000 (b) Principal amount of security is adjusted for inflation. Repurchase Agreement dated 06/30/21 at 0.185%, due (c) The rate shown represents current yield to maturity. on 07/01/21 with a maturity value of $900,005; (d) All or a portion of the security was held on loan. As of June 30, 2021, the market value collateralized by various Common Stock with an aggregate of securities loaned was $42,947,997 and the collateral received consisted of cash in market value of $1,000,032...... 900,000 900,000 the amount of $43,938,009. The cash collateral investments are disclosed in the 26,182,340 Schedule of Investments and categorized as Securities Lending Reinvestments. (e) Represents investment of cash collateral received from securities on loan as of June 30, Time Deposits—0.2% 2021. ABN AMRO Bank NV (f) The rate shown represents the annualized seven-day yield as of June 30, 2021. 0.080%, 07/01/21 ...... 2,000,000 2,000,000 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Landesbank Baden-Wuettertemberg (London) These securities may be resold in transactions exempt from registration, normally to 0.130%, 07/01/21 ...... 200,000 200,000 qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $33,104,215, which is 3.5% of net assets. 2,200,000

Mutual Funds—1.6% BlackRock Liquidity Funds FedFund, Institutional Shares 0.030% (f) ...... 5,000,000 5,000,000 Fidelity Government Portfolio, Institutional Class 0.010% (f) ...... 3,000,000 3,000,000 Goldman Sachs Financial Square Government Fund, Institutional Shares 0.020% (f) ...... 1,000,000 1,000,000 STIT-Government & Agency Portfolio, Institutional Class 0.030% (f) ...... 5,000,000 5,000,000 Wells Fargo Government Money Market Fund, Select Class 0.030% (f) ...... 1,255,669 1,255,669 15,255,669 Total Securities Lending Reinvestments (Cost $43,938,009) ...... 43,938,009 Total Investments—102.9% (Cost $1,082,843,846) ...... 980,549,713 Other assets and liabilities (net)—(2.9)% ...... (27,268,622) Net Assets—100.0% ...... $953,281,091

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) CLP 363,810,000 JPMC ...... 07/01/21 USD 500,771 $ (5,380) CLP 445,720,000 GSBU ...... 07/02/21 USD 614,786 (7,861) CLP 716,580,000 JPMC ...... 07/02/21 USD 988,032 (12,283) CLP 1,250,670,000 JPMC ...... 07/06/21 USD 1,741,213 (38,414) CLP 366,600,000 GSBU ...... 07/15/21 USD 507,665 (8,647) CLP 1,169,213,444 GSBU ...... 08/06/21 USD 1,657,965 (67,244) CLP 1,419,730,000 GSBU ...... 08/06/21 USD 1,946,809 (15,260) CLP 445,720,000 GSBU ...... 08/09/21 USD 605,285 1,069 CLP 1,496,812,255 GSBU ...... 08/16/21 USD 2,119,710 (83,853)

See accompanying notes to financial statements. BHFTI-100 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) CLP 628,720,981 GSBU ...... 08/17/21 USD 887,899 $ (32,781) CLP 804,099,204 GSBU ...... 08/17/21 USD 1,137,404 (43,756) CLP 3,262,900,000 JPMC ...... 08/17/21 USD 4,577,857 (140,016) CLP 750,100,000 GSBU ...... 09/01/21 USD 1,024,629 (4,847) CLP 1,185,373,763 GSBU ...... 09/01/21 USD 1,634,052 (22,503) CLP 366,600,000 GSBU ...... 09/15/21 USD 504,854 (6,658) CLP 1,795,754,751 GSBU ...... 09/15/21 USD 2,475,264 (34,897) CLP 363,810,000 JPMC ...... 09/24/21 USD 490,165 4,108 CLP 366,110,000 JPMC ...... 09/24/21 USD 493,263 4,134 CLP 716,580,000 JPMC ...... 09/24/21 USD 965,455 8,091 CLP 374,400,000 GSBU ...... 09/29/21 USD 510,360 (1,775) CLP 2,691,900,000 JPMC ...... 09/30/21 USD 3,761,167 (104,601) CLP 1,250,670,000 JPMC ...... 10/04/21 USD 1,695,847 2,810 CLP 752,740,000 GSBU ...... 12/23/21 USD 1,011,299 7,579 CLP 752,740,000 GSBU ...... 12/23/21 USD 1,023,412 (4,534) CNH 55,783,810 CBNA ...... 07/14/21 USD 8,548,195 71,053 CNH 19,700,000 BNP ...... 08/03/21 USD 3,010,621 28,992 CNH 36,460,080 BOA ...... 09/10/21 USD 5,676,267 (65,159) CNH 52,781,030 CBNA ...... 09/10/21 USD 8,216,225 (93,367) CNH 83,341,700 CBNA ...... 09/10/21 USD 12,973,894 (147,831) CNH 105,579,210 BOA ...... 09/13/21 USD 16,412,126 (167,495) CNH 60,400,810 HSBC ...... 10/15/21 USD 9,087,133 184,454 CNH 41,966,000 JPMC ...... 11/22/21 USD 6,432,695 (6,963) CNH 52,239,590 JPMC ...... 12/10/21 USD 8,080,120 (90,775) CNH 84,053,150 JPMC ...... 12/13/21 USD 12,996,147 (143,877) CNH 60,796,230 HSBC ...... 12/15/21 USD 9,395,328 (100,412) EUR 8,120,000 CBNA ...... 08/16/21 USD 9,702,750 (65,649) INR 102,619,900 HSBC ...... 07/12/21 USD 1,369,452 9,778 INR 87,540,800 JPMC ...... 09/07/21 USD 1,163,812 5,424 INR 85,052,900 CBNA ...... 09/08/21 USD 1,131,098 4,780 INR 113,234,200 JPMC ...... 09/08/21 USD 1,515,204 (2,966) INR 37,997,400 CBNA ...... 09/09/21 USD 512,682 (5,286) INR 64,525,900 CBNA ...... 09/09/21 USD 870,619 (8,976) INR 102,907,080 HSBC ...... 09/13/21 USD 1,393,612 (20,074) INR 63,624,900 CBNA ...... 11/10/21 USD 835,301 8,259 INR 321,000,000 JPMC ...... 12/20/21 USD 4,276,351 (40,114) INR 87,293,700 JPMC ...... 01/27/22 USD 1,130,894 15,921 INR 620,000,000 SCB ...... 03/22/22 USD 8,086,605 5,767 KRW 19,365,700,000 CBNA ...... 07/21/21 USD 17,326,384 (131,992) KRW 19,523,500,000 JPMC ...... 07/22/21 USD 17,507,597 (173,187) KRW 27,000,000,000 DBAG ...... 09/23/21 USD 23,868,458 99,950 MXN 138,954,500 CBNA ...... 07/08/21 USD 7,006,510 (41,023) MXN 138,954,500 CBNA ...... 07/08/21 USD 7,006,510 (41,023) MXN 310,400,000 HSBC ...... 08/05/21 USD 15,182,493 324,211 NOK 50,224,500 JPMC ...... 09/20/21 USD 5,776,915 58,091 NZD 4,480,000 BOA ...... 09/21/21 USD 3,176,376 (45,633) NZD 14,760,000 JPMC ...... 12/20/21 USD 10,529,208 (219,222) NZD 5,280,000 CBNA ...... 12/21/21 USD 3,741,672 (53,566) NZD 5,270,000 JPMC ...... 12/21/21 USD 3,725,843 (44,722) SGD 2,210,000 MSCS ...... 07/22/21 USD 1,664,119 (20,630) SGD 7,200,000 CBNA ...... 09/22/21 USD 5,362,929 (8,639) SGD 2,790,000 MSCS ...... 10/21/21 USD 2,090,130 (15,505)

Contracts to Deliver AUD 22,218,024 CBNA ...... 08/16/21 USD 17,389,603 723,757 AUD 22,223,000 HSBC ...... 11/17/21 USD 17,190,602 514,656

See accompanying notes to financial statements. BHFTI-101 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Deliver Counterparty Date for (Depreciation) AUD 22,494,000 JPMC ...... 11/18/21 USD 17,375,108 $ 495,727 CLP 363,810,000 JPMC ...... 07/01/21 USD 490,634 (4,757) CLP 445,720,000 GSBU ...... 07/02/21 USD 605,598 (1,328) CLP 716,580,000 JPMC ...... 07/02/21 USD 966,366 (9,382) CLP 1,250,670,000 JPMC ...... 07/06/21 USD 1,698,126 (4,674) EUR 12,500,000 DBAG ...... 08/03/21 USD 15,161,875 330,208 EUR 8,120,000 CBNA ...... 08/16/21 USD 9,876,397 239,295 EUR 8,349,000 MSCS ...... 08/27/21 USD 10,245,601 334,580 EUR 4,839,649 DBAG ...... 10/15/21 USD 5,923,730 172,552 EUR 8,660,000 CBNA ...... 10/21/21 USD 10,394,078 101,507 EUR 8,660,000 CBNA ...... 10/22/21 USD 10,466,822 174,002 EUR 23,038,000 CBNA ...... 11/10/21 USD 27,760,329 365,981 EUR 8,120,622 HSBC ...... 11/17/21 USD 9,848,528 190,709 EUR 8,120,000 CBNA ...... 11/18/21 USD 9,840,506 183,193 MXN 153,745,000 CBNA ...... 07/08/21 USD 7,140,668 (566,235) MXN 124,164,000 CBNA ...... 07/08/21 USD 5,804,443 (419,628) MXN 604,740,000 HSBC ...... 08/05/21 USD 29,347,051 (864,046) MXN 370,448,600 HSBC ...... 08/05/21 USD 17,977,706 (528,857) MXN 219,300,000 HSBC ...... 08/05/21 USD 10,816,916 (138,690) MXN 328,699,000 CBNA ...... 08/13/21 USD 16,085,099 (319,603) MXN 281,980,000 CBNA ...... 08/23/21 USD 13,542,537 (513,214) MXN 152,232,000 CBNA ...... 08/23/21 USD 7,034,945 (553,306) MXN 138,954,500 CBNA ...... 10/01/21 USD 6,931,782 39,992 MXN 138,954,500 CBNA ...... 11/01/21 USD 6,902,171 40,163

Cross Currency Contracts to Buy AUD 567,476 HSBC ...... 07/12/21 JPY 48,004,497 (6,535) AUD 8,100,000 HSBC ...... 07/12/21 JPY 686,655,630 (106,350) AUD 21,926,964 JPMC ...... 07/13/21 JPY 1,855,171,829 (255,300) CAD 21,347,000 DBAG ...... 08/03/21 EUR 13,737,692 920,370 CAD 6,254,227 HSBC ...... 08/03/21 EUR 4,023,537 271,216 CAD 3,260,000 CBNA ...... 08/03/21 EUR 2,089,795 150,227 CAD 1,289,781 MSCS ...... 08/25/21 EUR 872,595 4,643 CAD 9,729,000 BOA ...... 11/02/21 EUR 6,229,271 442,891 CAD 5,929,400 HSBC ...... 11/02/21 EUR 3,798,974 266,944 CAD 6,254,227 HSBC ...... 11/03/21 EUR 4,184,283 70,799 CAD 5,434,300 GSBU ...... 11/22/21 EUR 3,683,085 3,343 EUR 5,650,000 HSBC ...... 08/18/21 JPY 749,601,885 (44,112) EUR 8,120,000 HSBC ...... 08/18/21 JPY 1,075,837,476 (50,191) JPY 722,477,461 HSBC ...... 07/12/21 AUD 8,667,476 3,216 JPY 1,472,126,966 JPMC ...... 07/13/21 AUD 17,586,203 62,647 JPY 330,271,190 JPMC ...... 07/13/21 AUD 4,340,762 (282,420) JPY 873,892,309 HSBC ...... 08/18/21 EUR 6,801,740 (203,661) JPY 1,118,503,795 HSBC ...... 08/18/21 EUR 8,705,516 (260,547) JPY 1,256,461,356 CBNA ...... 08/24/21 EUR 9,791,549 (308,076) JPY 1,098,296,170 HSBC ...... 10/25/21 EUR 8,705,927 (451,162) NOK 71,630,000 DBAG ...... 08/03/21 EUR 6,856,645 184,965 NOK 38,458,900 DBAG ...... 09/15/21 EUR 3,572,189 225,908 NOK 77,945,750 JPMC ...... 09/16/21 EUR 7,690,219 (77,160) NOK 79,604,000 JPMC ...... 09/20/21 EUR 7,466,632 380,302 NOK 28,100,000 JPMC ...... 09/20/21 EUR 2,733,032 18,647 NOK 111,182,775 JPMC ...... 09/30/21 EUR 11,009,068 (160,854) NOK 77,945,750 JPMC ...... 10/19/21 EUR 7,734,689 (137,508) NOK 28,842,600 DBAG ...... 06/20/22 EUR 2,817,045 (25,314) NOK 78,500,000 CBNA ...... 06/21/22 EUR 7,624,098 (17,916) SEK 35,194,000 DBAG ...... 07/15/21 EUR 3,443,151 29,032

See accompanying notes to financial statements. BHFTI-102 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Cross Currency Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) SEK 47,800,000 DBAG ...... 08/03/21 EUR 4,692,669 $ 18,992 SEK 197,100,000 DBAG ...... 08/05/21 EUR 19,423,312 (9,291) SEK 30,712,100 DBAG ...... 09/15/21 EUR 2,984,365 47,035 SEK 41,792,883 DBAG ...... 09/16/21 EUR 4,112,178 3,305 SEK 2,199,625 DBAG ...... 09/16/21 EUR 216,430 174 SEK 26,395,500 DBAG ...... 10/18/21 EUR 2,601,311 (3,948) SEK 26,395,500 DBAG ...... 10/19/21 EUR 2,600,516 (3,039) SEK 70,387,997 DBAG ...... 11/17/21 EUR 6,912,644 15,414 SEK 70,388,003 DBAG ...... 12/13/21 EUR 6,980,236 (67,455) SEK 37,516,293 DBAG ...... 12/16/21 EUR 3,707,950 (21,270) SEK 14,250,000 JPMC ...... 12/17/21 EUR 1,408,743 (8,496) SEK 30,676,200 DBAG ...... 06/15/22 EUR 3,033,793 (27,871) Net Unrealized Depreciation ...... $(970,729)

Securities in the amount of $1,827,614 have been received at the custodian bank as collateral for forward foreign currency exchange contracts.

Glossary of Abbreviations

Counterparties (BNP)— BNP Paribas S.A. (DBAG)— Deutsche Bank AG (JPMC)— JPMorgan Chase Bank N.A. (BOA)— Bank of America N.A. (GSBU)— Goldman Sachs Bank USA (MSCS)— Morgan Stanley Capital Services LLC (CBNA)— Citibank N.A. (HSBC)— HSBC Bank plc (SCB)— Standard Chartered Bank

Currencies (ARS)— Argentine Peso (EUR)— Euro (NOK)— Norwegian Krone (AUD)— Australian Dollar (GHS)— Ghana Cedi (NZD)— New Zealand Dollar (BRL)— Brazilian Real (IDR)— Indonesian Rupiah (SEK)— Swedish Krona (CAD)— Canadian Dollar (INR)— Indian Rupee (SGD)— Singapore Dollar (CLP)— Chilean Peso (JPY)— Japanese Yen (USD)— United States Dollar (CNH)— Chinese Renminbi (KRW)— South Korean Won (COP)— Colombian Peso (MXN)— Mexican Peso

Index Abbreviations (BADLAR)— Buenos Aires Deposits of Large Amount Rate Index

See accompanying notes to financial statements. BHFTI-103 Brighthouse Funds Trust I Brighthouse/Templeton International Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Foreign Government* ...... $ — $674,475,649 $— $674,475,649 Total U.S. Treasury & Government Agencies* ...... — 153,981,674 — 153,981,674 Total Short-Term Investment* ...... — 108,154,381 — 108,154,381 Securities Lending Reinvestments Certificate of Deposit ...... — 300,000 — 300,000 Repurchase Agreements ...... — 26,182,340 — 26,182,340 Time Deposits ...... — 2,200,000 — 2,200,000 Mutual Funds ...... 15,255,669 — — 15,255,669 Total Securities Lending Reinvestments ...... 15,255,669 28,682,340 — 43,938,009 Total Investments ...... $15,255,669 $965,294,044 $— $980,549,713 Collateral for Securities Loaned (Liability) ...... $ — $(43,938,009) $— $ (43,938,009) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 7,870,863 $— $ 7,870,863 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (8,841,592) — (8,841,592) Total Forward Contracts ...... $ — $ (970,729) $— $ (970,729)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-104 Brighthouse Funds Trust I Brighthouse/Wellington Large Cap Research Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—98.6% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—2.2% Capital Markets—5.1% Boeing Co. (The) (a) (b) ...... 65,716 $ 15,742,925 Ares Management Corp. - Class A (a) ...... 283,681 $ 18,039,275 Lockheed Martin Corp...... 48,864 18,487,694 Charles Schwab Corp. (The) ...... 730,047 53,154,722 Raytheon Technologies Corp...... 296,940 25,331,952 CME Group, Inc...... 87,181 18,541,655 59,562,571 Hamilton Lane, Inc. - Class A ...... 79,488 7,242,946 Morgan Stanley ...... 184,746 16,939,361 Air Freight & Logistics—0.6% S&P Global, Inc. (a) ...... 43,807 17,980,583 FedEx Corp...... 56,337 16,807,017 StepStone Group, Inc. - Class A (a) ...... 207,137 7,125,513 139,024,055 Airlines—0.2% JetBlue Airways Corp. (b) ...... 339,317 5,693,739 Chemicals—2.5% Cabot Corp...... 143,248 8,155,109 Automobiles—0.6% Celanese Corp...... 71,127 10,782,853 Tesla, Inc. (b) ...... 25,236 17,152,909 FMC Corp. (a) ...... 90,167 9,756,069 Ingevity Corp. (b) ...... 53,349 4,340,475 Banks—2.1% Linde plc ...... 65,323 18,884,879 Bank of America Corp...... 1,402,025 57,805,491 Livent Corp. (a) (b) ...... 122,139 2,364,611 PPG Industries, Inc...... 88,985 15,106,984 Beverages—1.4% 69,390,980 Constellation Brands, Inc. - Class A ...... 105,110 24,584,178 Monster Beverage Corp. (b) ...... 148,377 13,554,239 Commercial Services & Supplies—0.4% 38,138,417 Waste Management, Inc...... 83,277 11,667,940

Biotechnology—2.0% Construction & Engineering—0.0% Alnylam Pharmaceuticals, Inc. (b) ...... 8,648 1,466,009 Dycom Industries, Inc. (b) ...... 17,030 1,269,246 ALX Oncology Holdings, Inc. (b) ...... 4,024 220,032 Amicus Therapeutics, Inc. (a) (b) ...... 56,509 544,747 Consumer Finance—1.4% Apellis Pharmaceuticals, Inc. (a) (b) ...... 27,143 1,715,438 American Express Co...... 183,921 30,389,267 Arena Pharmaceuticals, Inc. (a) (b) ...... 12,744 869,141 OneMain Holdings, Inc...... 119,243 7,143,848 Ascendis Pharma A/S (ADR) (b) ...... 7,124 937,162 37,533,115 BioAtla, Inc. (a) (b) ...... 10,313 437,065 Biogen, Inc. (b) ...... 15,799 5,470,720 Containers & Packaging—0.2% Celldex Therapeutics, Inc. (a) (b) ...... 18,924 632,819 Ball Corp...... 53,605 4,343,077 Exact Sciences Corp. (a) (b) ...... 49,209 6,117,171 Immunocore Holdings plc (ADR) (a) (b) ...... 13,049 509,563 Diversified Consumer Services—0.1% Incyte Corp. (b) ...... 25,225 2,122,179 Houghton Mifflin Harcourt Co. (a) (b) ...... 335,687 3,705,984 Kodiak Sciences, Inc. (a) (b) ...... 9,443 878,199 Mersana Therapeutics, Inc. (a) (b) ...... 39,111 531,127 Diversified Financial Services—0.7% Mirati Therapeutics, Inc. (b) ...... 7,465 1,205,821 Equitable Holdings, Inc...... 514,116 15,654,832 Myovant Sciences, Ltd. (a) (b) ...... 495,693 11,286,930 Voya Financial, Inc. (a) ...... 45,675 2,809,013 Regeneron Pharmaceuticals, Inc. (b) ...... 10,909 6,093,113 REVOLUTION Medicines, Inc. (a) (b) ...... 18,281 580,239 18,463,845 Rocket Pharmaceuticals, Inc. (a) (b) ...... 18,894 836,815 Seagen, Inc. (b) ...... 16,918 2,671,014 Electric Utilities—2.6% TCR2 Therapeutics, Inc. (a) (b) ...... 34,414 564,734 Duke Energy Corp...... 225,290 22,240,629 Turning Point Therapeutics, Inc. (a) (b) ...... 12,307 960,192 Edison International ...... 230,971 13,354,743 Vertex Pharmaceuticals, Inc. (b) ...... 33,740 6,802,996 Exelon Corp...... 363,003 16,084,663 Verve Therapeutics, Inc. (a) (b) ...... 18,109 1,091,067 FirstEnergy Corp...... 498,357 18,543,864 54,544,293 70,223,899

Building Products—0.9% Energy Equipment & Services—0.3% Johnson Controls International plc ...... 237,013 16,266,202 Schlumberger NV ...... 222,607 7,125,650 Trane Technologies plc ...... 44,331 8,163,111 Entertainment—0.9% 24,429,313 Electronic Arts, Inc...... 58,520 8,416,932

See accompanying notes to financial statements. BHFTI-105 Brighthouse Funds Trust I Brighthouse/Wellington Large Cap Research Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Entertainment—(Continued) Industrial Conglomerates—0.2% Netflix, Inc. (b) ...... 31,691 $ 16,739,503 General Electric Co...... 326,165 $ 4,390,181 25,156,435 Insurance—3.1% Equity Real Estate Investment Trusts—2.1% American Financial Group, Inc...... 51,361 6,405,744 American Tower Corp...... 60,122 16,241,357 American International Group, Inc...... 257,258 12,245,481 Public Storage ...... 18,620 5,598,848 Assurant, Inc. (a) ...... 68,990 10,774,858 Rexford Industrial Realty, Inc. (a) ...... 179,791 10,239,097 Assured Guaranty, Ltd...... 127,574 6,057,214 Ryman Hospitality Properties, Inc. (a) (b) ...... 126,683 10,002,890 Chubb, Ltd...... 97,383 15,478,054 Welltower, Inc...... 185,150 15,385,965 Hartford Financial Services Group, Inc. (The) ...... 119,310 7,393,641 Marsh & McLennan Cos., Inc...... 80,062 11,263,122 57,468,157 Oscar Health, Inc. - Class A (a) (b) ...... 195,960 4,213,140 Trupanion, Inc. (a) (b) ...... 87,233 10,040,518 Food & Staples Retailing—2.2% Performance Food Group Co. (b) ...... 730,152 35,405,071 83,871,772 Sysco Corp...... 218,568 16,993,662 U.S. Foods Holding Corp. (a) (b) ...... 221,728 8,505,486 Interactive Media & Services—8.7% Alphabet, Inc. - Class A (b) ...... 52,862 129,077,903 60,904,219 Facebook, Inc. - Class A (b) ...... 239,047 83,119,032 Match Group, Inc. (b) ...... 86,298 13,915,553 Food Products—2.4% Snap, Inc. - Class A (a) (b) ...... 204,188 13,913,370 Bunge, Ltd...... 163,862 12,805,815 Lamb Weston Holdings, Inc...... 225,325 18,174,715 240,025,858 Mondelez International, Inc. - Class A ...... 466,756 29,144,245 Utz Brands, Inc. (a) ...... 274,855 5,989,090 Internet & Direct Marketing Retail—5.0% Amazon.com, Inc. (b) ...... 39,990 137,571,998 66,113,865 IT Services—4.7% Health Care Equipment & Supplies—4.6% FleetCor Technologies, Inc. (b) ...... 26,521 6,790,967 Align Technology, Inc. (b) ...... 14,179 8,663,369 Genpact, Ltd...... 190,510 8,654,869 Baxter International, Inc...... 203,743 16,401,312 Global Payments, Inc...... 179,208 33,608,668 Boston Scientific Corp. (b) ...... 477,424 20,414,650 GoDaddy, Inc. - Class A (b) ...... 157,846 13,726,288 Danaher Corp...... 93,187 25,007,663 PayPal Holdings, Inc. (b) ...... 89,633 26,126,227 Edwards Lifesciences Corp. (b) ...... 150,468 15,583,971 Shopify, Inc. - Class A (b) ...... 10,311 15,064,165 Humana, Inc...... 33,920 15,017,062 Snowflake, Inc. - Class A (b) ...... 4,608 1,114,215 Insulet Corp. (b) ...... 26,792 7,354,672 Visa, Inc. - A Shares (a) ...... 83,902 19,617,966 Intuitive Surgical, Inc. (b) ...... 20,486 18,839,745 WEX, Inc. (a) (b) ...... 23,919 4,637,894 127,282,444 129,341,259 Health Care Providers & Services—2.7% Life Sciences Tools & Services—1.4% agilon health, Inc. (b) ...... 175,900 7,136,263 Agilent Technologies, Inc...... 110,723 16,365,967 Anthem, Inc...... 38,899 14,851,638 ICON plc (a) (b) ...... 12,799 2,645,681 Centene Corp. (b) ...... 193,051 14,079,209 Illumina, Inc. (b) ...... 28,534 13,502,574 HCA Healthcare, Inc...... 31,848 6,584,256 Syneos Health, Inc. (a) (b) ...... 71,274 6,378,310 Laboratory Corp. of America Holdings (b) ...... 20,282 5,594,790 Lifestance Health Group, Inc. (b) ...... 86,181 2,401,003 38,892,532 McKesson Corp...... 21,471 4,106,114 UnitedHealth Group, Inc...... 44,321 17,747,901 Machinery—2.4% Fortive Corp...... 238,197 16,611,859 72,501,174 Ingersoll Rand, Inc. (b) ...... 353,028 17,231,297 Kennametal, Inc. (a) ...... 95,017 3,413,010 Hotels, Restaurants & Leisure—2.6% Otis Worldwide Corp...... 109,736 8,973,113 Airbnb, Inc. - Class A (a) (b) ...... 117,525 17,997,778 Parker-Hannifin Corp...... 9,998 3,070,486 Booking Holdings, Inc. (b) ...... 4,412 9,653,853 Rexnord Corp. (a) ...... 66,698 3,337,568 Caesars Entertainment, Inc. (b) ...... 122,451 12,704,291 Westinghouse Air Brake Technologies Corp. (a) ...... 161,622 13,301,490 Chipotle Mexican Grill, Inc. (a) (b) ...... 9,200 14,263,128 Darden Restaurants, Inc...... 64,313 9,389,055 65,938,823 Hyatt Hotels Corp. - Class A (a) (b) ...... 101,037 7,844,513 71,852,618 Media—3.2% Charter Communications, Inc. - Class A (a) (b) ...... 57,299 41,338,363

See accompanying notes to financial statements. BHFTI-106 Brighthouse Funds Trust I Brighthouse/Wellington Large Cap Research Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Media—(Continued) Semiconductors & Semiconductor Equipment—(Continued) DISH Network Corp. - Class A (b) ...... 193,069 $ 8,070,284 Texas Instruments, Inc...... 136,256 $ 26,202,029 New York Times Co. (The) - Class A (a) ...... 134,640 5,863,572 134,426,619 Omnicom Group, Inc. (a) ...... 410,936 32,870,771 88,142,990 Software—8.2% Adobe, Inc. (b) ...... 20,499 12,005,034 Oil, Gas & Consumable Fuels—2.8% Avalara, Inc. (a) (b) ...... 23,933 3,872,360 ConocoPhillips (a) ...... 239,641 14,594,137 Ceridian HCM Holding, Inc. (b) ...... 11,070 1,061,834 Marathon Petroleum Corp...... 149,074 9,007,051 Guidewire Software, Inc. (a) (b) ...... 38,807 4,374,325 Pioneer Natural Resources Co. (a) ...... 36,157 5,876,236 Microsoft Corp...... 551,597 149,427,627 Royal Dutch Shell plc - Class A (ADR) (a) ...... 452,818 18,293,847 Q2 Holdings, Inc. (a) (b) ...... 42,207 4,329,594 Royal Dutch Shell plc - Class B (ADR) ...... 763,681 29,653,733 Rapid7, Inc. (a) (b) ...... 30,463 2,882,714 77,425,004 Salesforce.com, Inc. (b) ...... 102,192 24,962,440 SentinelOne, Inc. - Class A (b) ...... 25,400 1,079,500 Personal Products—0.3% ServiceNow, Inc. (b) ...... 15,642 8,596,061 Estee Lauder Cos., Inc. (The) - Class A ...... 28,178 8,962,858 UiPath, Inc. - Class A (a) (b) ...... 6,900 468,717 Varonis Systems, Inc. (b) ...... 56,952 3,281,574 Pharmaceuticals—4.6% Workday, Inc. - Class A (b) ...... 36,804 8,786,587 AstraZeneca plc (ADR) (a) ...... 312,716 18,731,688 225,128,367 Bristol-Myers Squibb Co...... 280,573 18,747,888 Elanco Animal Health, Inc. (b) ...... 300,035 10,408,214 Specialty Retail—1.4% Eli Lilly and Co...... 130,842 30,030,856 Ross Stores, Inc...... 93,568 11,602,432 Novartis AG (ADR) ...... 89,140 8,133,134 TJX Cos., Inc. (The) ...... 257,698 17,373,999 Pfizer, Inc...... 822,575 32,212,037 Ulta Beauty, Inc. (a) (b) ...... 31,363 10,844,385 Reata Pharmaceuticals, Inc. - Class A (a) (b) ...... 5,367 759,591 39,820,816 Royalty Pharma plc - Class A ...... 22,825 935,597 Theravance Biopharma, Inc. (a) (b) ...... 385,342 5,595,166 Technology Hardware, Storage & Peripherals—3.9% 125,554,171 Apple, Inc...... 787,650 107,876,544

Professional Services—1.1% Textiles, Apparel & Luxury Goods—1.0% Equifax, Inc...... 8,825 2,113,676 PVH Corp. (b) ...... 113,427 12,203,611 IHS Markit, Ltd...... 140,839 15,866,922 Tapestry, Inc. (b) ...... 347,794 15,122,083 Legalzoom.com, Inc (b) ...... 38,800 1,468,580 27,325,694 TransUnion ...... 16,622 1,825,262 TriNet Group, Inc. (a) (b) ...... 117,068 8,485,088 Wireless Telecommunication Services—0.5% 29,759,528 T-Mobile U.S., Inc. (a) (b) ...... 97,544 14,127,298 Total Common Stocks Road & Rail—0.4% (Cost $1,958,855,896) ...... 2,707,800,839 CSX Corp...... 160,140 5,137,291 J.B. Hunt Transport Services, Inc...... 13,136 2,140,511 Knight-Swift Transportation Holdings, Inc. (a) ...... 83,156 3,780,272 Short-Term Investment—1.5% 11,058,074 Repurchase Agreement—1.5% Semiconductors & Semiconductor Equipment—4.9% Fixed Income Clearing Corp. Advanced Micro Devices, Inc. (a) (b) ...... 281,363 26,428,427 Repurchase Agreement dated 06/30/21 at 0.000%, due on KLA Corp...... 35,531 11,519,506 07/01/21 with a maturity value of $41,084,401; Lattice Semiconductor Corp. (a) (b) ...... 117,686 6,611,600 collateralized by U.S. Treasury Note with rates ranging from 0.125% - 2.500%, maturity dates ranging from 01/31/25 - Marvell Technology, Inc...... 339,683 19,813,709 Micron Technology, Inc. (b) ...... 248,029 21,077,504 04/15/25, and an aggregate market value of NVIDIA Corp...... 8,689 6,952,069 $41,906,194...... 41,084,401 41,084,401 Skyworks Solutions, Inc...... 31,971 6,130,439 Total Short-Term Investments Teradyne, Inc...... 72,345 9,691,336 (Cost $41,084,401) ...... 41,084,401

See accompanying notes to financial statements. BHFTI-107 Brighthouse Funds Trust I Brighthouse/Wellington Large Cap Research Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—8.8%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Certificates of Deposit—2.5% Repurchase Agreements—(Continued) Agricultural Bank of China Barclays Capital, Inc. 0.100%, 07/01/21 ...... 600,000 $ 599,999 Repurchase Agreement dated 06/30/21 at 0.030%, due on Bank of Montreal 07/01/21 with a maturity value of $8,764,669; Zero Coupon, 09/20/21 ...... 2,998,451 2,999,040 collateralized by U.S. Treasury Obligations at 0.000%, Bank of Montreal (Chicago) maturity dates ranging from 05/15/29 - 11/15/43, and an 0.176%, 1M BSBY + 0.120%, 12/01/21 (d) ...... 6,000,000 6,000,075 aggregate market value of $8,939,955...... 8,764,662 $ 8,764,662 Barclays Bank plc BofA Securities, Inc. 0.100%, 09/09/21 ...... 6,000,000 5,999,526 Repurchase Agreement dated 06/30/21 at 0.360%, due on Cooperatieve Rabobank UA 08/04/21 with a maturity value of $4,001,400; 0.228%, 3M LIBOR + 0.040%, 01/11/22 (d) ...... 5,000,000 5,001,450 collateralized by various Common Stock with an aggregate Credit Industriel et Commercial market value of $4,400,001...... 4,000,000 4,000,000 Zero Coupon, 10/12/21 ...... 3,998,224 3,998,360 Cantor Fitzgerald & Co. Industrial & Commercial Bank of China Ltd. Repurchase Agreement dated 06/30/21 at 0.050%, due on 0.110%, 07/22/21 ...... 7,000,000 6,999,699 07/01/21 with a maturity value of $5,000,007; Mitsubishi UFJ Trust and Banking Corp. (London) collateralized by U.S. Government Agency Obligations with Zero Coupon, 08/11/21 ...... 999,566 999,840 rates ranging from 0.920% - 7.500%, maturity dates ranging Zero Coupon, 09/07/21 ...... 2,999,004 2,999,190 from 11/01/23 - 06/20/71, and an aggregate market value Mizuho Bank, Ltd. of $5,100,000...... 5,000,000 5,000,000 0.200%, 09/14/21 ...... 5,000,000 5,000,630 Citigroup Global Markets, Inc. MUFG Bank Ltd. Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.170%, 07/22/21 ...... 2,000,000 2,000,060 08/04/21 with a maturity value of $2,000,836; collateralized by U.S. Treasury Obligations at 2.000%, Natixis S.A. (New York) maturing 11/30/22, and various Common Stock with an 0.208%, 3M LIBOR + 0.040%, 02/11/22 (d) ...... 5,000,000 4,999,920 aggregate market value of $2,196,455...... 2,000,000 2,000,000 Oversea-Chinese Banking Corp., Ltd. Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 5,000,000 5,000,020 08/04/21 with a maturity value of $5,002,090; Sumitomo Mitsui Banking Corp. collateralized by U.S. Treasury Obligations at 0.125%, 0.158%, 3M LIBOR + 0.030%, 09/10/21 (d) ...... 7,000,000 7,000,168 maturing 05/31/23, and various Common Stock with an Sumitomo Mitsui Trust Bank (London) aggregate market value of $5,497,639...... 5,000,000 5,000,000 Zero Coupon, 08/09/21 ...... 999,323 999,850 Deutsche Bank AG, London Zero Coupon, 09/01/21 ...... 2,998,527 2,999,250 Repurchase Agreement dated 06/30/21 at 0.170%, due on Zero Coupon, 10/15/21 ...... 1,999,119 1,999,160 07/01/21 with a maturity value of $3,100,015; Svenska Handelsbanken AB collateralized by U.S. Treasury and Foreign Obligations with 0.145%, 3M LIBOR + 0.020%, 09/17/21 (d) ...... 4,000,000 4,000,080 rates ranging from 0.000% - 3.375%, maturity dates ranging 69,596,317 from 02/01/22 - 03/11/31, and an aggregate market value of $3,162,003...... 3,100,000 3,100,000 Commercial Paper—0.2% Repurchase Agreement dated 06/30/21 at 0.230%, due on Antalis S.A. 07/01/21 with a maturity value of $3,000,019; 0.170%, 09/01/21 ...... 4,997,497 4,998,395 collateralized by various Common Stock with an aggregate market value of $3,333,684...... 3,000,000 3,000,000 Master Demand Notes—0.2% HSBC Bank plc Natixis Financial Products LLC Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.330%, OBFR + 0.250%, 07/01/21 (d) ...... 5,000,000 5,000,000 07/01/21 with a maturity value of $18,000,050; collateralized by U.S. Treasury Obligations with rates ranging Repurchase Agreements—3.5% from 0.099% - 6.125%, maturity dates ranging from Barclays Bank plc 08/31/21 - 02/15/50, and an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.200%, due on $18,367,398...... 18,000,000 18,000,000 07/01/21 with a maturity value of $5,000,028; collateralized Morgan Stanley by various Common Stock with an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.500%, due on $5,555,982...... 5,000,000 5,000,000 10/04/21 with a maturity value of $6,008,000; Repurchase Agreement dated 06/30/21 at 0.360%, due on collateralized by various Common Stock with an aggregate 08/04/21 with a maturity value of $2,000,070; collateralized market value of $6,600,099...... 6,000,000 6,000,000 National Bank of Canada by various Common Stock with an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.210%, due on $2,222,669...... 2,000,000 2,000,000 07/07/21 with a maturity value of $30,001,225; collateralized by various Common Stock with an aggregate market value of $33,333,528...... 30,000,000 30,000,000

See accompanying notes to financial statements. BHFTI-108 Brighthouse Funds Trust I Brighthouse/Wellington Large Cap Research Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Security Description Amount* Value Security Description Shares Value

Repurchase Agreements—(Continued) Mutual Funds—(Continued) NBC Global Finance, Ltd. Goldman Sachs Financial Square Government Fund, Repurchase Agreement dated 06/30/21 at 0.245%, due on Institutional Shares 07/07/21 with a maturity value of $32,284; collateralized 0.020% (e) ...... 10,000,000 $ 10,000,000 by U.S. Treasury Obligations with rates ranging from STIT-Government & Agency Portfolio, Institutional Class 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 0.030% (e) ...... 10,000,000 10,000,000 02/15/49, and various Common Stock with an aggregate 35,000,000 market value of $35,869...... 32,282 $ 32,282 Repurchase Agreement dated 06/30/21 at 0.260%, due on Total Securities Lending Reinvestments 07/07/21 with a maturity value of $2,000,101; (Cost $241,990,191) ...... 241,991,656 collateralized by U.S. Treasury Obligations with rates ranging Total Investments—108.9% from 2.125% - 3.875%, maturity dates ranging from (Cost $2,241,930,488) ...... 2,990,876,896 12/31/23 - 04/15/29, and various Common Stock with an Other assets and liabilities (net)—(8.9)% ...... (245,300,866) aggregate market value of $2,222,615...... 2,000,000 2,000,000 Royal Bank of Canada Net Assets—100.0% ...... $2,745,576,030 Repurchase Agreement dated 06/30/21 at 0.360%, due on 08/04/21 with a maturity value of $3,001,050; collateralized by various Common Stock with an aggregate * Principal amount stated in U.S. dollars unless otherwise noted. market value of $3,333,367...... 3,000,000 3,000,000 (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value of securities loaned was $239,393,197 and the collateral received consisted of cash in 96,896,944 the amount of $241,986,655 and non-cash collateral with a value of $5,262,185. The cash collateral investments are disclosed in the Schedule of Investments and categorized Time Deposits—1.1% as Securities Lending Reinvestments. The non-cash collateral received consists of ABN AMRO Bank NV U.S. government securities that are held in safe-keeping by the lending agent, or a 0.080%, 07/01/21 ...... 10,000,000 10,000,000 third-party custodian, and cannot be sold or repledged by the Portfolio. As such, this Landesbank Baden-Wuettertemberg (London) collateral is excluded from the Statement of Assets and Liabilities. 0.130%, 07/01/21 ...... 1,500,000 1,500,000 (b) Non-income producing security. National Bank of Canada (c) Represents investment of cash collateral received from securities on loan as of June 30, 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 5,000,000 5,000,000 2021. Rabobank (New York) (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 0.050%, 07/01/21 ...... 4,000,000 4,000,000 Maturity date shown for callable securities reflects the earliest possible call date. For Royal Bank of Canada securities based on a published reference index and spread, the index and spread are 0.030%, 07/01/21 ...... 10,000,000 10,000,000 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- 30,500,000 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 Mutual Funds—1.3% reference index and spread in their description above. BlackRock Liquidity Funds FedFund, Institutional Shares (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. 0.030% (e) ...... 15,000,000 15,000,000

Futures Contracts Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) S&P 500 Index E-Mini Futures ...... 09/17/21 32 USD 6,861,760 $80,095

Glossary of Abbreviations

Currencies (USD)— United States Dollar

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-109 Brighthouse Funds Trust I Brighthouse/Wellington Large Cap Research Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $2,707,800,839 $ — $— $2,707,800,839 Total Short-Term Investment* ...... — 41,084,401 — 41,084,401 Securities Lending Reinvestments Certificates of Deposit ...... — 69,596,317 — 69,596,317 Commercial Paper ...... — 4,998,395 — 4,998,395 Master Demand Notes ...... — 5,000,000 — 5,000,000 Repurchase Agreements ...... — 96,896,944 — 96,896,944 Time Deposits ...... — 30,500,000 — 30,500,000 Mutual Funds ...... 35,000,000 — — 35,000,000 Total Securities Lending Reinvestments ...... 35,000,000 206,991,656 — 241,991,656 Total Investments ...... $2,742,800,839 $ 248,076,057 $— $2,990,876,896 Collateral for Securities Loaned (Liability) ...... $ — $(241,986,655) $— $ (241,986,655) Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 80,095 $ — $— $ 80,095

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-110 Brighthouse Funds Trust I BlackRock Global Tactical Strategies Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 Mutual Funds—84.1% of Net Assets

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Investment Company Securities—84.1% Certificates of Deposit—(Continued) Communication Services Select Sector SPDR Fund (a) ...... 1,304,486 $ 105,624,231 Mitsubishi UFJ Trust and Banking Corp. (London) Consumer Discretionary Select Sector SPDR Fund (a) ...... 648,870 115,855,739 Zero Coupon, 08/11/21 ...... 9,995,657 $ 9,998,400 Consumer Staples Select Sector SPDR Fund (a) ...... 786,460 55,028,606 Zero Coupon, 08/13/21 ...... 9,995,785 9,998,400 Energy Select Sector SPDR Fund (a) ...... 494,500 26,638,715 Zero Coupon, 09/07/21 ...... 2,999,004 2,999,190 Financial Select Sector SPDR Fund (a) ...... 2,897,837 106,321,640 Mizuho Bank, Ltd. Health Care Select Sector SPDR Fund (a) ...... 969,554 122,115,326 0.200%, 09/14/21 ...... 25,000,000 25,003,150 Industrial Select Sector SPDR Fund (a) ...... 786,409 80,528,282 Natixis S.A. (New York) iShares Core MSCI EAFE ETF (a) (b) ...... 17,301,112 1,295,161,244 0.208%, 3M LIBOR + 0.040%, 02/11/22 (e) ...... 20,000,000 19,999,680 iShares Core S&P 500 ETF (a) (b) ...... 1,474,179 633,779,036 Oversea-Chinese Banking Corp., Ltd. iShares Core U.S. Aggregate Bond ETF (a) (b) ...... 8,988,656 1,036,661,696 0.167%, 3M LIBOR + 0.020%, 03/25/22 (e) ...... 30,000,000 30,000,120 iShares U.S. Real Estate ETF (a) (b) ...... 1,107,061 112,853,798 Royal Bank of Canada New York Materials Select Sector SPDR Fund (a) ...... 298,281 24,551,509 0.221%, 3M LIBOR + 0.090%, 12/02/21 (e) ...... 4,000,000 4,001,804 Real Estate Select Sector SPDR Fund (a) ...... 544,096 24,119,776 0.240%, 3M LIBOR + 0.040%, 10/05/21 (e) ...... 8,000,000 8,001,416 Technology Select Sector SPDR Fund (a) ...... 1,751,305 258,597,696 Sumitomo Mitsui Banking Corp. Utilities Select Sector SPDR Fund (a) ...... 362,224 22,903,424 0.156%, 1M LIBOR + 0.060%, 12/17/21 (e) ...... 9,000,000 8,999,982 Vanguard Total Bond Market ETF (a) ...... 13,150,670 1,129,511,046 0.158%, 3M LIBOR + 0.030%, 09/10/21 (e) ...... 10,000,000 10,000,240 Total Mutual Funds Sumitomo Mitsui Trust Bank, Ltd. (Cost $4,198,003,609) ...... 5,150,251,764 Zero Coupon, 08/09/21 ...... 16,988,486 16,997,450 Zero Coupon, 08/27/21 ...... 9,995,044 9,997,900 Zero Coupon, 09/14/21 ...... 13,992,599 13,995,800 Short-Term Investments—10.7% Zero Coupon, 09/20/21 ...... 14,981,036 14,995,200 0.060%, 07/06/21 ...... 15,000,000 14,999,895 Mutual Funds—5.4% Toronto-Dominion Bank SSGA USD Liquidity Fund, D Shares, 0.000% (c) ...... 332,078,833 332,078,833 0.267%, 3M LIBOR + 0.070%, 10/08/21 (e) ...... 13,500,000 13,498,805 344,383,172 Repurchase Agreement—5.3% Fixed Income Clearing Corp. Commercial Paper—0.1% Repurchase Agreement dated 06/30/21 at 0.000%, due on Antalis S.A. 07/01/21 with a maturity value of $324,340,183; 0.200%, 07/06/21 ...... 4,997,444 4,999,880 collateralized by U.S. Treasury Notes with rates ranging from 0.250% - 2.625%, maturity dates ranging from 12/31/23 - Master Demand Notes—0.1% 01/15/25, and an aggregate market value of Natixis Financial Products LLC $330,827,057...... 324,340,183 324,340,183 0.310%, OBFR + 0.230%, 07/01/21 (e) ...... 4,000,000 4,000,000 Total Short-Term Investments 0.330%, OBFR + 0.250%, 07/01/21 (e) ...... 3,000,000 3,000,000 (Cost $656,419,016) ...... 656,419,016 7,000,000

Securities Lending Reinvestments (d)—20.6% Repurchase Agreements—13.8% Barclays Bank plc Certificates of Deposit—5.6% Repurchase Agreement dated 06/30/21 at 0.200%, due on Agricultural Bank of China 07/01/21 with a maturity value of $56,000,311; 0.100%, 07/01/21 ...... 27,905,337 27,905,309 collateralized by various Common Stock with an aggregate Bank of Montreal (Chicago) market value of $62,226,993...... 56,000,000 56,000,000 0.176%, 1M BSBY + 0.120%, 12/01/21 (e) ...... 17,000,000 17,000,211 Repurchase Agreement dated 06/30/21 at 0.360%, due on Barclays Bank plc 08/04/21 with a maturity value of $63,022,050; 0.100%, 09/09/21 ...... 25,000,000 24,998,025 collateralized by various Common Stock with an aggregate China Construction Bank Corp. market value of $70,014,078...... 63,000,000 63,000,000 0.110%, 07/14/21 ...... 10,000,000 9,999,730 Barclays Capital, Inc. Cooperatieve Rabobank UA Repurchase Agreement dated 06/30/21 at 0.030%, due on 0.228%, 3M LIBOR + 0.040%, 01/11/22 (e) ...... 6,000,000 6,001,740 07/01/21 with a maturity value of $20,541,062; Credit Industriel et Commercial collateralized by U.S. Treasury Obligations at 0.000%, Zero Coupon, 10/12/21 ...... 19,991,121 19,991,800 maturity dates ranging from 05/15/29 - 11/15/43, and an Industrial & Commercial Bank of China Ltd. aggregate market value of $20,951,866...... 20,541,045 20,541,045 0.110%, 07/22/21 ...... 25,000,000 24,998,925

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-111 Brighthouse Funds Trust I BlackRock Global Tactical Strategies Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 Securities Lending Reinvestments (d)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Repurchase Agreements—(Continued) BofA Securities, Inc. Royal Bank of Canada Repurchase Agreement dated 06/30/21 at 0.360%, due on Repurchase Agreement dated 06/30/21 at 0.530%, due on 08/04/21 with a maturity value of $30,010,500; 09/03/21 with a maturity value of $20,019,139; collateralized by various Common Stock with an aggregate collateralized by various Common Stock with an aggregate market value of $33,000,006...... 30,000,000 $ 30,000,000 market value of $22,222,549...... 20,000,000 $ 20,000,000 Citigroup Global Markets, Inc. Societe Generale Repurchase Agreement dated 06/30/21 at 0.430%, due on Repurchase Agreement dated 06/30/21 at 0.180%, due on 08/04/21 with a maturity value of $45,018,813; 07/01/21 with a maturity value of $121,200,606; collateralized by U.S. Treasury Obligations at 0.125%, collateralized by various Common Stock with an aggregate maturing 05/31/23, and various Common Stock with an market value of $134,669,473...... 121,200,000 121,200,000 aggregate market value of $49,486,872...... 45,000,000 45,000,000 845,534,629 HSBC Bank plc Repurchase Agreement dated 06/30/21 at 0.100%, due on Time Deposits—1.0% 07/01/21 with a maturity value of $47,960,987; Landesbank Baden-Wuettertemberg (London) collateralized by U.S. Treasury Obligations with rates ranging 0.130%, 07/01/21 ...... 6,000,000 6,000,000 from 0.099% - 6.125%, maturity dates ranging from National Bank of Canada 08/31/21 - 02/15/50, and an aggregate market value of 0.130%, OBFR + 0.050%, 07/07/21 (e) ...... 15,000,000 15,000,000 $48,939,784...... 47,960,854 47,960,854 0.150%, OBFR + 0.070%, 07/07/21 (e) ...... 38,000,000 38,000,000 ING Financial Markets LLC Repurchase Agreement dated 06/30/21 at 0.040%, due on 59,000,000 07/01/21 with a maturity value of $151,038,197; Total Securities Lending Reinvestments collateralized by U.S. Government Agency Obligations with (Cost $1,260,908,165) ...... 1,260,917,681 rates ranging from 0.055% - 6.625%, maturity dates ranging from 10/12/21 - 01/04/35, and an aggregate Total Investments—115.4% market value of $154,059,282...... 151,038,029 151,038,029 (Cost $6,115,330,790) ...... 7,067,588,461 Natwest Market Securities, Inc. Other assets and liabilities (net)—(15.4)% ...... (941,674,161) Repurchase Agreement dated 06/30/21 at 0.050%, due on Net Assets—100.0% ...... $6,125,914,300 07/01/21 with a maturity value of $176,500,245; collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 8.125%, maturity dates ranging from * Principal amount stated in U.S. dollars unless otherwise noted. 08/15/21 - 05/15/51, and an aggregate market value of (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value $180,030,252...... 176,500,000 176,500,000 of securities loaned was $1,235,383,503 and the collateral received consisted of cash in NBC Global Finance, Ltd. the amount of $1,260,876,143 and non-cash collateral with a value of $890,447. The Repurchase Agreement dated 06/30/21 at 0.200%, due on cash collateral investments are disclosed in the Consolidated Schedule of Investments 07/01/21 with a maturity value of $30,000,167; and categorized as Securities Lending Reinvestments. The non-cash collateral received collateralized by U.S. Treasury Obligations with rates ranging consists of U.S. government securities that are held in safe-keeping by the lending from 1.875% - 3.000%, maturity dates ranging from agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. As 07/31/22 - 02/15/49, and various Common Stock with an such, this collateral is excluded from the Consolidated Statement of Assets and aggregate market value of $33,333,344...... 30,000,000 30,000,000 Liabilities. Repurchase Agreement dated 06/30/21 at 0.245%, due on (b) Affiliated Issuer. (See Note 8 of the Notes to Consolidated Financial Statements for a 07/07/21 with a maturity value of $55,133,442; summary of transactions in securities of affiliated issuers.) collateralized by U.S. Treasury Obligations with rates ranging (c) The rate shown represents the annualized seven-day yield as of June 30, 2021. from 1.875% - 3.000%, maturity dates ranging from (d) Represents investment of cash collateral received from securities on loan as of June 30, 07/31/22 - 02/15/49, and various Common Stock with an 2021. aggregate market value of $61,256,481...... 55,130,816 55,130,816 (e) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Repurchase Agreement dated 06/30/21 at 0.260%, due on Maturity date shown for callable securities reflects the earliest possible call date. For 07/07/21 with a maturity value of $29,165,359; securities based on a published reference index and spread, the index and spread are collateralized by U.S. Treasury Obligations with rates ranging indicated in the description above. For certain variable rate securities, the coupon rate is from 2.125% - 3.875%, maturity dates ranging from determined by the issuer/agent based on current market conditions. For certain asset- 12/31/23 - 04/15/29, and various Common Stock with an and mortgage-backed securities, the coupon rate may fluctuate based on changes of the aggregate market value of $32,410,043...... 29,163,885 29,163,885 underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-112 Brighthouse Funds Trust I BlackRock Global Tactical Strategies Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) AUD 76,925,427 JPMC ...... 09/15/21 USD 59,631,868 $(1,923,522) CAD 73,998,559 JPMC ...... 09/15/21 USD 61,248,466 (1,554,878) EUR 217,621,446 DBAG ...... 09/15/21 USD 265,120,134 (6,682,697) EUR 3,896,000 UBSA ...... 09/15/21 USD 4,734,080 (107,366) JPY 6,665,109,159 JPMC ...... 09/15/21 USD 61,013,840 (981,557)

Contracts to Deliver AUD 76,925,000 JPMC ...... 09/15/21 USD 57,906,986 198,960 CAD 73,999,000 JPMC ...... 09/15/21 USD 59,768,241 74,298 EUR 52,455,000 DBAG ...... 09/15/21 USD 62,584,061 290,863 EUR 87,990,875 JPMC ...... 09/15/21 USD 107,195,086 2,701,082 JPY 6,665,109,000 GSI ...... 09/15/21 USD 60,529,115 496,834 JPY 4,349,006,343 JPMC ...... 09/15/21 USD 39,811,738 640,469 Net Unrealized Depreciation ...... $(6,847,514)

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) FTSE 100 Index Futures ...... 09/17/21 218 GBP 15,217,490 $ (214,144) FTSE MIB Index Futures ...... 09/17/21 747 EUR 93,389,940 (2,577,305) IBEX 35 Index Futures ...... 07/16/21 1,059 EUR 93,068,097 (4,904,016) MSCI EAFE Index Mini Futures ...... 09/17/21 1,934 USD 222,806,470 (4,891,500) Russell 2000 Index E-Mini Futures ...... 09/17/21 1,046 USD 120,697,940 100,205 TOPIX Index Futures ...... 09/09/21 121 JPY 2,351,030,000 (169,001)

Futures Contracts—Short S&P 500 Index E-Mini Futures ...... 09/17/21 (44) USD (9,434,920) 1,125 U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 (575) USD (110,795,313) (650,975) Net Unrealized Depreciation ...... $(13,305,611)

Swap Agreements

OTC Total Return Swaps

Pay/Receive Fixed/ Upfront Unrealized Fixed/ Floating Payment Maturity Underlying Reference Notional Market Premium Appreciation/ Floating Rate Rate Index Frequency Date Counterparty Instrument Amount Value Paid/(Received) (Depreciation)(1) Pay ...... 3MUST Quarterly 11/30/21 JPMC S&P GSCI Commodity Index USD 125,788,531 $ 5,400,016 $— $ 5,400,016 Pay ...... 0.090% Quarterly 11/30/21 JPMC S&P GSCI Commodity Index USD 115,887,355 4,974,965 — 4,974,965 Totals ...... $10,374,981 $— $10,374,981

(1) There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-113 Brighthouse Funds Trust I BlackRock Global Tactical Strategies Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay...... 3MLIBOR Quarterly 1.520% Semi-Annually 06/10/31 USD 420,000,000 $ 3,076,189 $ 6,813 $ 3,069,376 Pay...... 3MLIBOR Quarterly 1.540% Semi-Annually 05/11/31 USD 350,000,000 3,347,330 (201,060) 3,548,390 Pay...... 3MLIBOR Quarterly 1.560% Semi-Annually 05/12/31 USD 810,000,000 9,268,652 (2,261,617) 11,530,269 Pay...... 3MLIBOR Quarterly 1.610% Semi-Annually 05/07/31 USD 270,000,000 4,375,740 4,339 4,371,401 Totals ...... $20,067,911 $(2,451,525) $22,519,436

Glossary of Abbreviations Counterparties (DBAG)— Deutsche Bank AG (JPMC)— JPMorgan Chase Bank N.A. (GSI)— Goldman Sachs International (UBSA)— UBS AG

Currencies (AUD)— Australian Dollar (EUR)— Euro (JPY)— Japanese Yen (CAD)— Canadian Dollar (GBP)— British Pound (USD)— United States Dollar

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (OBFR)— U.S. Overnight Bank Funding Rate (LIBOR)— London Interbank Offered Rate (UST)— U.S. Treasury Bill Rate

Other Abbreviations (ETF)— Exchange-Traded Fund

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-114 Brighthouse Funds Trust I BlackRock Global Tactical Strategies Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Mutual Funds Investment Company Securities ...... $5,150,251,764 $ — $— $ 5,150,251,764 Short-Term Investments Mutual Funds ...... 332,078,833 — — 332,078,833 Repurchase Agreement ...... — 324,340,183 — 324,340,183 Total Short-Term Investments ...... 332,078,833 324,340,183 — 656,419,016 Total Securities Lending Reinvestments* ...... — 1,260,917,681 — 1,260,917,681 Total Investments ...... $5,482,330,597 $ 1,585,257,864 $— $ 7,067,588,461 Collateral for Securities Loaned (Liability) ...... $ — $(1,260,876,143) $— $(1,260,876,143) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 4,402,506 $— $ 4,402,506 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (11,250,020) — (11,250,020) Total Forward Contracts ...... $ — $ (6,847,514) $— $ (6,847,514) Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 101,330 $ — $— $ 101,330 Futures Contracts (Unrealized Depreciation) ...... (13,406,941) — — (13,406,941) Total Futures Contracts ...... $ (13,305,611) $ — $— $ (13,305,611) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 22,519,436 $— $ 22,519,436 OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 10,374,981 $— $ 10,374,981

* See Consolidated Schedule of Investments for additional detailed categorizations.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-115 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—86.1% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Advertising—0.8% Airlines—(Continued) Advantage Sales & Marketing, Inc. American Airlines, Inc./AAdvantage Loyalty IP, Ltd. 6.500%, 11/15/28 (144A) ...... 346,000 $ 364,165 5.500%, 04/20/26 (144A) ...... 1,316,000 $ 1,393,315 Clear Channel International B.V. 5.750%, 04/20/29 (144A) ...... 2,032,641 2,197,793 6.625%, 08/01/25 (144A) ...... 809,000 850,121 Delta Air Lines, Inc. / SkyMiles IP, Ltd. Clear Channel Outdoor Holdings, Inc. 4.750%, 10/20/28 (144A) ...... 1,337,000 1,486,420 7.500%, 06/01/29 (144A) ...... 2,201,000 2,278,776 7.000%, 05/01/25 (144A) ...... 847,000 988,439 7.750%, 04/15/28 (144A) (a) ...... 1,207,000 1,264,357 Deutsche Lufthansa AG Lamar Media Corp. 3.750%, 02/11/28 (EUR) ...... 100,000 122,144 4.000%, 02/15/30 ...... 132,000 133,599 Finnair Oyj Outfront Media Capital LLC / Outfront Media Capital Corp. 4.250%, 05/19/25 (EUR) ...... 100,000 120,947 4.250%, 01/15/29 (144A) ...... 295,000 296,844 Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty, 5.000%, 08/15/27 (144A) ...... 426,000 441,076 Ltd. Summer BC Holdco A Sarl 5.750%, 01/20/26 (144A) ...... 939,000 1,008,120 5.750%, 10/31/26 (EUR) ...... 100,000 124,053 International Consolidated Airlines Group S.A. 9.250%, 10/31/27 (EUR) ...... 90,105 115,790 2.750%, 03/25/25 (EUR) ...... 100,000 118,576 Terrier Media Buyer, Inc. 3.750%, 03/25/29 (EUR) ...... 100,000 118,871 8.875%, 12/15/27 (144A) ...... 1,640,000 1,773,250 Mileage Plus Holdings LLC / Mileage Plus Intellectual Property 7,642,031 Assets, Ltd. 6.500%, 06/20/27 (144A) ...... 2,630,000 2,895,630 Aerospace/Defense—2.7% Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd. Boeing Co. (The) 8.000%, 09/20/25 (144A) † ...... 89,401 101,113 5.930%, 05/01/60 ...... 2,480,000 3,424,529 United Airlines Pass-Through Trust F-Brasile S.p.A. / F-Brasile U.S. LLC 4.875%, 01/15/26 ...... 121,313 128,637 7.375%, 08/15/26 (144A) ...... 664,000 683,920 5.875%, 10/15/27 ...... 2,050,806 2,275,537 Howmet Aerospace, Inc. United Airlines, Inc. 5.125%, 10/01/24 ...... 31,000 34,216 4.375%, 04/15/26 (144A) ...... 1,194,000 1,236,005 Kratos Defense & Security Solutions, Inc. 4.625%, 04/15/29 (144A) ...... 1,077,000 1,114,695 6.500%, 11/30/25 (144A) ...... 976,000 1,021,140 17,483,691 Rolls-Royce plc 5.750%, 10/15/27 (144A) ...... 1,939,000 2,135,789 Apparel—0.1% Spirit AeroSystems, Inc. Crocs, Inc. 5.500%, 01/15/25 (144A) ...... 387,000 411,188 4.250%, 03/15/29 (144A) ...... 397,000 404,940 SSL Robotics LLC Hanesbrands, Inc. 9.750%, 12/31/23 (144A) ...... 128,000 141,252 5.375%, 05/15/25 (144A) ...... 66,000 69,878 TransDigm, Inc. Levi Strauss & Co. 7.500%, 03/15/27 ...... 277,000 294,659 3.500%, 03/01/31 (144A) ...... 275,000 273,405 4.625%, 01/15/29 (144A) ...... 656,000 656,230 5.000%, 05/01/25 (a) ...... 17,000 17,340 4.875%, 05/01/29 (144A) ...... 775,000 782,363 William Carter Co. (The) 6.250%, 03/15/26 (144A) ...... 10,377,000 10,947,735 5.500%, 05/15/25 (144A) ...... 95,000 100,511 6.375%, 06/15/26 ...... 190,000 196,834 Wolverine World Wide, Inc. 8.000%, 12/15/25 (144A) ...... 1,955,000 2,112,377 6.375%, 05/15/25 (144A) ...... 161,000 171,283 Triumph Group, Inc. 1,037,357 8.875%, 06/01/24 (144A) ...... 2,206,000 2,454,175 25,296,407 Auto Manufacturers—1.1% Allison Transmission, Inc. Agriculture—0.0% 3.750%, 01/30/31 (144A) ...... 889,000 873,771 Tereos Finance Groupe I S.A. 5.875%, 06/01/29 (144A) ...... 508,000 556,260 7.500%, 10/30/25 (EUR) ...... 100,000 126,710 Ford Motor Co. 4.346%, 12/08/26 ...... 128,000 137,120 Airlines—1.9% 4.750%, 01/15/43 ...... 227,000 241,188 Air France-KLM 5.291%, 12/08/46 ...... 293,000 327,246 3.875%, 07/01/26 (EUR) ...... 100,000 116,739 Ford Motor Credit Co. LLC American Airlines, Inc. 2.330%, 11/25/25 (EUR) ...... 100,000 122,492 11.750%, 07/15/25 (144A) ...... 1,642,000 2,060,710 2.900%, 02/16/28 ...... 733,000 729,526 3.375%, 11/13/25 ...... 206,000 213,612

See accompanying notes to financial statements. BHFTI-116 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Auto Manufacturers—(Continued) Banks—1.6% Ford Motor Credit Co. LLC Banca Monte dei Paschi di Siena S.p.A. 3.810%, 01/09/24 ...... 987,000 $ 1,032,037 2.625%, 04/28/25 (EUR) ...... 175,000 $ 210,397 3.815%, 11/02/27 ...... 200,000 208,324 Banco BPM S.p.A. 4.000%, 11/13/30 ...... 417,000 436,807 2.875%, 5Y EUR Swap + 3.170%, 06/29/31 (EUR) (b) ...... 200,000 236,746 4.125%, 08/17/27 ...... 200,000 212,155 5.000%, 5Y EUR Swap + 5.419%, 09/14/30 (EUR) (b) ...... 100,000 129,542 4.134%, 08/04/25 (a) ...... 916,000 978,966 Banco de Sabadell S.A. 4.271%, 01/09/27 ...... 210,000 224,994 2.000%, 5Y EUR Swap + 2.200%, 01/17/30 (EUR) (b) ...... 100,000 117,093 4.389%, 01/08/26 ...... 200,000 216,000 Banco Espirito Santo S.A. 4.687%, 06/09/25 ...... 200,000 216,500 2.625%, 05/08/17 (EUR) (d) ...... 400,000 66,402 5.113%, 05/03/29 ...... 243,000 272,034 4.750%, 01/15/18 (EUR) (d) ...... 1,000,000 166,005 5.125%, 06/16/25 ...... 728,000 801,710 Bank of America Corp. General Motors Financial Co., Inc. 6.100%, 3M LIBOR + 3.898%, 03/17/25 (b) ...... 1,479,000 1,660,725 5.700%, 5Y H15 + 4.997%, 09/30/30 (b) ...... 270,000 302,400 6.250%, 3M LIBOR + 3.705%, 09/05/24 (b) ...... 404,000 446,925 Navistar International Corp. 6.500%, 3M LIBOR + 4.174%, 10/23/24 (b) ...... 1,395,000 1,579,838 6.625%, 11/01/25 (144A) ...... 349,000 360,562 Bank of Cyprus PcL RCI Banque S.A. 2.500%, 5Y EUR Swap + 2.785%, 06/24/27 (EUR) (b) ...... 100,000 116,227 2.625%, 5Y EUR Swap + 2.850%, 02/18/30 (EUR) (b) ...... 100,000 119,336 CIT Group, Inc. Renault S.A. 5.800%, 3M LIBOR + 3.972%, 06/15/22 (b) ...... 569,000 587,703 2.375%, 05/25/26 (EUR) ...... 100,000 120,176 6.000%, 04/01/36 ...... 1,604,000 1,876,680 Tesla, Inc. Citigroup, Inc. 5.300%, 08/15/25 (144A) ...... 968,000 1,000,564 4.000%, 5Y H15 + 3.597%, 12/10/25 (b) ...... 370,000 382,488 Wabash National Corp. Deutsche Pfandbriefbank AG 5.500%, 10/01/25 (144A) ...... 513,000 523,260 4.600%, 02/22/27 (EUR) ...... 100,000 127,940 10,227,040 Goldman Sachs Group, Inc. (The) 4.950%, 5Y H15 + 3.224%, 02/10/25 (b) ...... 1,490,000 1,592,601 Auto Parts & Equipment—1.5% Intesa Sanpaolo S.p.A. Adient U.S. LLC 4.198%, 06/01/32 (144A) ...... 415,000 425,275 9.000%, 04/15/25 (144A) ...... 413,000 454,816 4.950%, 06/01/42 (144A) ...... 305,000 315,835 Clarios Global L.P. 5.148%, 06/10/30 (GBP) ...... 100,000 157,527 6.750%, 05/15/25 (144A) ...... 1,142,000 1,216,207 5.875%, 5Y EUR Swap + 5.751%, 03/04/29 (EUR) (b) ...... 100,000 133,068 Clarios Global L.P. / Clarios U.S. Finance Co. JPMorgan Chase & Co. 4.375%, 05/15/26 (EUR) ...... 167,000 204,828 4.600%, SOFR + 3.125%, 02/01/25 (b) ...... 539,000 558,566 6.250%, 05/15/26 (144A) ...... 2,392,000 2,548,222 5.000%, SOFR + 3.380%, 08/01/24 (b) ...... 1,401,000 1,480,787 8.500%, 05/15/27 (144A) ...... 4,500,000 4,905,900 6.125%, 3M LIBOR + 3.330%, 04/30/24 (b) ...... 243,000 263,351 Dealer Tire LLC / DT Issuer LLC Stichting AK Rabobank Certificaten 8.000%, 02/01/28 (144A) ...... 755,000 813,513 2.188%, 12/29/49 (EUR) (e) ...... 86,900 138,653 Faurecia SE UniCredit S.p.A. 3.750%, 06/15/28 (EUR) ...... 100,000 124,803 4.375%, 5Y EUR Swap + 4.316%, 01/03/27 (EUR) (b) ...... 100,000 121,146 Goodyear Tire & Rubber Co. (The) Wells Fargo & Co. 5.000%, 07/15/29 (144A) ...... 344,000 360,168 3.900%, 5Y H15 + 3.453%, 03/15/26 (b) ...... 890,000 921,417 5.250%, 07/15/31 (144A) ...... 1,020,000 1,065,900 5.875%, 3M LIBOR + 3.990%, 06/15/25 (b) ...... 846,000 947,444 5.625%, 04/30/33 (a) ...... 823,000 868,018 9.500%, 05/31/25 ...... 444,000 495,615 14,760,381 IHO Verwaltungs GmbH 3.875%, 4.625% PIK, 05/15/27 (EUR) (c) ...... 101,000 123,327 Beverages—0.0% Meritor, Inc. Triton Water Holdings, Inc. 4.500%, 12/15/28 (144A) ...... 164,000 166,255 6.250%, 04/01/29 (144A) ...... 297,000 297,743 Tenneco, Inc. 7.875%, 01/15/29 (144A) (a) ...... 124,000 140,043 Biotechnology—0.0% Titan International, Inc. Cidron Aida Finco S.a.r.l 7.000%, 04/30/28 (144A) ...... 291,000 304,459 5.000%, 04/01/28 (EUR) ...... 100,000 120,205 ZF Finance GmbH 6.250%, 04/01/28 (GBP) ...... 100,000 141,097 2.000%, 05/06/27 (EUR) ...... 100,000 119,168 Emergent BioSolutions, Inc. 3.000%, 09/21/25 (EUR) ...... 100,000 125,668 3.875%, 08/15/28 (144A) (a) ...... 160,000 156,723 3.750%, 09/21/28 (EUR) ...... 100,000 129,768 418,025 14,166,678

See accompanying notes to financial statements. BHFTI-117 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Building Materials—1.0% Chemicals—(Continued) APi Group DE, Inc. HB Fuller Co. 4.125%, 07/15/29 (144A) ...... 352,000 $ 350,022 4.250%, 10/15/28 ...... 229,000 $ 236,678 Builders FirstSource, Inc. Herens Holdco Sarl 6.750%, 06/01/27 (144A) ...... 230,000 246,388 4.750%, 05/15/28 (144A) ...... 953,000 948,235 Cemex S.A.B. de C.V. Herens Midco Sarl 3.125%, 03/19/26 (EUR) ...... 100,000 121,857 5.250%, 05/15/29 (EUR) ...... 100,000 116,042 Cornerstone Building Brands, Inc. Illuminate Buyer LLC / Illuminate Holdings IV, Inc. 6.125%, 01/15/29 (144A) (a) ...... 1,274,000 1,366,365 9.000%, 07/01/28 (144A) ...... 627,000 699,118 CP Atlas Buyer, Inc. INEOS Finance plc 7.000%, 12/01/28 (144A) ...... 643,000 666,309 3.375%, 03/31/26 (EUR) ...... 100,000 122,634 Forterra Finance LLC / FRTA Finance Corp. Ingevity Corp. 6.500%, 07/15/25 (144A) ...... 635,000 684,212 3.875%, 11/01/28 (144A) ...... 191,000 189,567 Griffon Corp. Kraton Polymers LLC / Kraton Polymers Capital Corp. 5.750%, 03/01/28 ...... 186,000 197,625 5.250%, 05/15/26 (EUR) ...... 100,000 121,539 HT Troplast GmbH Minerals Technologies, Inc. 9.250%, 07/15/25 (EUR) ...... 100,000 131,220 5.000%, 07/01/28 (144A) ...... 365,000 379,490 JELD-WEN, Inc. Monitchem HoldCo 3 S.A. 4.625%, 12/15/25 (144A) ...... 128,000 130,401 5.250%, 03/15/25 (EUR) ...... 100,000 122,135 4.875%, 12/15/27 (144A) ...... 40,000 41,569 Nobian Finance B.V. 6.250%, 05/15/25 (144A) ...... 326,000 347,682 3.625%, 07/15/26 (EUR) ...... 100,000 118,172 NOVA Chemicals Corp. Masonite International Corp. 4.875%, 06/01/24 (144A) (a) ...... 161,000 169,855 5.375%, 02/01/28 (144A) ...... 180,000 190,742 OCI NV 5.750%, 09/15/26 (144A) ...... 64,000 66,240 5.250%, 11/01/24 (144A) ...... 331,000 341,162 Patrick Industries, Inc. PQ Corp. 4.750%, 05/01/29 (144A) ...... 165,000 163,969 5.750%, 12/15/25 (144A) ...... 1,236,000 1,268,445 PCF GmbH SCIH Salt Holdings, Inc. 4.750%, 04/15/26 (EUR) ...... 100,000 120,979 4.875%, 05/01/28 (144A) ...... 827,000 826,901 4.750%, 3M EURIBOR + 4.750%, 04/15/26 (EUR) (b) ...... 100,000 119,843 6.625%, 05/01/29 (144A) ...... 464,000 465,160 SRM Escrow Issuer LLC Valvoline, Inc. 6.000%, 11/01/28 (144A) ...... 1,977,000 2,095,620 3.625%, 06/15/31 (144A) ...... 3,000 3,000 Standard Industries, Inc. 2.250%, 11/21/26 (EUR) ...... 100,000 117,940 10,661,208 3.375%, 01/15/31 (144A) ...... 788,000 754,281 4.375%, 07/15/30 (144A) (a) ...... 620,000 639,375 Commercial Services—4.4% Summit Materials LLC / Summit Materials Finance Corp. ADT Security Corp. (The) 5.250%, 01/15/29 (144A) ...... 382,000 405,848 4.875%, 07/15/32 (144A) ...... 670,000 706,006 Victors Merger Corp. Allied Universal Holdco LLC / Allied Universal Finance Corp. 6.375%, 05/15/29 (144A) ...... 516,000 519,870 6.000%, 06/01/29 (144A) (a) ...... 1,298,000 1,315,899 6.625%, 07/15/26 (144A) ...... 4,345,000 4,606,699 9,478,357 9.750%, 07/15/27 (144A) ...... 1,979,000 2,179,374 Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Chemicals—1.1% Luxco 4 Sarl Ashland Services B.V. 3.625%, 06/01/28 (EUR) ...... 100,000 117,615 2.000%, 01/30/28 (EUR) ...... 100,000 120,120 4.625%, 06/01/28 (144A) (a) ...... 3,836,000 3,843,092 Axalta Coating Systems LLC 4.875%, 06/01/28 (GBP) ...... 100,000 137,237 3.375%, 02/15/29 (144A) ...... 349,000 341,147 AMN Healthcare, Inc. Axalta Coating Systems LLC / Axalta Coating Systems Dutch 4.000%, 04/15/29 (144A) ...... 212,000 213,498 Holding B BV APX Group, Inc. 4.750%, 06/15/27 (144A) (a) ...... 256,000 268,160 6.750%, 02/15/27 (144A) ...... 590,000 629,058 Chemours Co. (The) 7.875%, 12/01/22 ...... 230,000 230,863 4.000%, 05/15/26 (EUR) ...... 200,000 242,633 8.500%, 11/01/24 ...... 226,000 236,170 5.750%, 11/15/28 (144A) (a) ...... 257,000 274,931 ASGN, Inc. Element Solutions, Inc. 4.625%, 05/15/28 (144A) ...... 148,000 155,026 3.875%, 09/01/28 (144A) ...... 2,759,000 2,815,008 Autostrade per l’Italia S.p.A. GCP Applied Technologies, Inc. 2.000%, 12/04/28 (EUR) ...... 131,000 161,624 5.500%, 04/15/26 (144A) ...... 458,000 471,076 2.000%, 01/15/30 (EUR) ...... 100,000 122,429

See accompanying notes to financial statements. BHFTI-118 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Commercial Services—(Continued) Commercial Services—(Continued) Avis Budget Car Rental LLC / Avis Budget Finance, Inc. Sotheby’s 5.375%, 03/01/29 (144A) ...... 265,000 $ 275,931 7.375%, 10/15/27 (144A) (a) ...... 2,021,000 $ 2,180,154 Bidfair Holdings, Inc. Square, Inc. 5.875%, 06/01/29 (144A) ...... 822,000 834,330 3.500%, 06/01/31 (144A) ...... 1,644,000 1,658,385 Brink’s Co. (The) Techem Verwaltungsgesellschaft 674 mbH 5.500%, 07/15/25 (144A) ...... 100,000 106,188 6.000%, 07/30/26 (EUR) ...... 100,000 122,262 CoreLogic, Inc. Techem Verwaltungsgesellschaft 675 mbH 4.500%, 05/01/28 (144A) ...... 933,000 924,836 2.000%, 07/15/25 (EUR) ...... 100,000 117,354 Garda World Security Corp. United Rentals North America, Inc. 4.625%, 02/15/27 (144A) ...... 649,000 652,245 4.875%, 01/15/28 ...... 23,000 24,392 9.500%, 11/01/27 (144A) ...... 527,000 583,652 Verisure Holding AB Gartner, Inc. 3.250%, 02/15/27 (EUR) ...... 148,000 175,523 3.625%, 06/15/29 (144A) ...... 523,000 530,845 3.500%, 05/15/23 (EUR) ...... 119,000 142,233 3.750%, 10/01/30 (144A) ...... 621,000 635,351 3.875%, 07/15/26 (EUR) ...... 100,000 121,161 4.500%, 07/01/28 (144A) ...... 603,000 636,840 Verisure Midholding AB Graham Holdings Co. 5.250%, 02/15/29 (EUR) ...... 100,000 121,836 5.750%, 06/01/26 (144A) ...... 80,000 83,200 Verscend Escrow Corp. Herc Holdings, Inc. 9.750%, 08/15/26 (144A) ...... 3,813,000 4,017,949 5.500%, 07/15/27 (144A) ...... 735,000 774,852 41,689,626 Intertrust Group B.V. 3.375%, 11/15/25 (EUR) ...... 134,000 162,068 Computers—1.3% IPD 3 B.V. Ahead DB Holdings LLC 5.500%, 12/01/25 (EUR) ...... 100,000 123,282 6.625%, 05/01/28 (144A) ...... 373,000 385,883 Jaguar Holding Co. II / PPD Development L.P. Austin BidCo, Inc. 4.625%, 06/15/25 (144A) ...... 199,000 208,950 7.125%, 12/15/28 (144A) ...... 159,000 162,926 5.000%, 06/15/28 (144A) ...... 1,260,000 1,365,739 Banff Merger Sub, Inc. Legends Hospitality Holding Co. LLC / Legends Hospitality 8.375%, 09/01/26 (EUR) ...... 100,000 124,016 Co-Issuer, Inc. 9.750%, 09/01/26 (144A) ...... 3,127,000 3,291,167 5.000%, 02/01/26 (144A) ...... 765,000 797,512 Booz Allen Hamilton, Inc. Loxam SAS 3.875%, 09/01/28 (144A) ...... 726,000 740,520 3.750%, 07/15/26 (EUR) ...... 100,000 121,184 4.000%, 07/01/29 (144A) ...... 996,000 1,018,410 Metis Merger Sub LLC Centurion Bidco S.p.A. 6.500%, 05/15/29 (144A) ...... 560,000 551,516 5.875%, 09/30/26 (EUR) ...... 100,000 123,832 MPH Acquisition Holdings LLC Crowdstrike Holdings, Inc. 5.750%, 11/01/28 (144A) (a) ...... 1,058,000 1,063,195 3.000%, 02/15/29 ...... 708,000 708,673 Nesco Holdings II, Inc. Diebold Nixdorf, Inc. 5.500%, 04/15/29 (144A) ...... 783,000 817,256 9.375%, 07/15/25 (144A) ...... 265,000 293,819 Nielsen Finance LLC / Nielsen Finance Co. KBR, Inc. 4.750%, 07/15/31 (144A) ...... 440,000 441,100 4.750%, 09/30/28 (144A) ...... 397,000 397,000 5.625%, 10/01/28 (144A) ...... 1,147,000 1,211,335 NCR Corp. 5.875%, 10/01/30 (144A) ...... 553,000 601,898 5.000%, 10/01/28 (144A) ...... 569,000 588,386 Prime Security Services Borrower LLC / Prime Finance, Inc. 5.125%, 04/15/29 (144A) ...... 476,000 490,875 3.375%, 08/31/27 (144A) ...... 429,000 416,130 5.250%, 10/01/30 (144A) ...... 239,000 247,962 5.750%, 04/15/26 (144A) ...... 233,000 257,388 6.125%, 09/01/29 (144A) ...... 318,000 346,620 6.250%, 01/15/28 (144A) ...... 243,000 258,491 Science Applications International Corp. Rekeep S.p.A. 4.875%, 04/01/28 (144A) ...... 304,000 318,820 7.250%, 02/01/26 (EUR) ...... 100,000 127,622 Tempo Acquisition LLC / Tempo Acquisition Finance Corp. Sabre GLBL, Inc. 5.750%, 06/01/25 (144A) ...... 534,000 562,035 7.375%, 09/01/25 (144A) ...... 535,000 581,812 6.750%, 06/01/25 (144A) ...... 1,820,000 1,850,722 9.250%, 04/15/25 (144A) ...... 1,096,000 1,302,958 Unisys Corp. Service Corp. International 6.875%, 11/01/27 (144A) ...... 249,000 272,117 4.000%, 05/15/31 ...... 944,000 963,517 5.125%, 06/01/29 ...... 52,000 56,420 11,923,783 Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc. 4.625%, 11/01/26 (144A) ...... 849,000 886,144

See accompanying notes to financial statements. BHFTI-119 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Cosmetics/Personal Care—0.1% Diversified Financial Services—(Continued) Coty, Inc. Nationstar Mortgage Holdings, Inc. 3.875%, 04/15/26 (EUR) ...... 137,000 $ 163,055 5.125%, 12/15/30 (144A) ...... 305,000 $ 303,475 4.000%, 04/15/23 (EUR) ...... 200,000 235,066 5.500%, 08/15/28 (144A) ...... 882,000 889,171 5.000%, 04/15/26 (144A) ...... 316,000 320,418 6.000%, 01/15/27 (144A) ...... 789,000 817,625 Edgewell Personal Care Co. Corp. 5.500%, 06/01/28 (144A) ...... 213,000 225,780 5.000%, 03/15/27 ...... 11,000 11,382 944,319 5.875%, 10/25/24 ...... 149,000 160,734 6.750%, 06/15/26 ...... 143,000 159,624 Distribution/Wholesale—0.5% 7.250%, 09/25/23 ...... 218,000 240,618 American Builders & Contractors Supply Co., Inc. NFP Corp. 3.875%, 11/15/29 (144A) ...... 357,000 354,769 4.875%, 08/15/28 (144A) ...... 714,000 725,524 4.000%, 01/15/28 (144A) ...... 44,000 45,087 6.875%, 08/15/28 (144A) ...... 2,712,000 2,854,950 BCPE Empire Holdings, Inc. OneMain Finance Corp. 7.625%, 05/01/27 (144A) ...... 283,000 289,820 3.500%, 01/15/27 ...... 813,000 819,097 Core & Main L.P. 5.375%, 11/15/29 ...... 165,000 179,477 6.125%, 08/15/25 (144A) ...... 3,081,000 3,142,620 6.625%, 01/15/28 ...... 474,000 543,375 H&E Equipment Services, Inc. 6.875%, 03/15/25 ...... 185,000 208,791 3.875%, 12/15/28 (144A) ...... 194,000 190,896 7.125%, 03/15/26 ...... 547,000 637,096 IAA, Inc. United Wholesale Mortgage LLC 5.500%, 06/15/27 (144A) ...... 104,000 109,171 5.500%, 04/15/29 (144A) ...... 240,000 239,945 Wolverine Escrow LLC 16,180,833 8.500%, 11/15/24 (144A) ...... 121,000 117,370 9.000%, 11/15/26 (144A) ...... 258,000 251,550 Electric—1.5% 4,501,283 Calpine Corp. 3.750%, 03/01/31 (144A) ...... 3,000 2,857 Diversified Financial Services—1.7% 4.500%, 02/15/28 (144A) ...... 391,000 398,820 Aretec Escrow Issuer, Inc. 4.625%, 02/01/29 (144A) ...... 271,000 266,431 7.500%, 04/01/29 (144A) ...... 285,000 292,929 5.000%, 02/01/31 (144A) ...... 366,000 364,170 Arrow Global Finance plc 5.125%, 03/15/28 (144A) (a) ...... 2,558,000 2,602,765 5.125%, 09/15/24 (GBP) ...... 100,000 139,197 5.250%, 06/01/26 (144A) ...... 149,000 153,284 Blackstone CQP Holdco L.P. Clearway Energy Operating LLC 5.500%, 05/24/31 ...... 973,000 1,013,856 4.750%, 03/15/28 (144A) (a) ...... 445,000 466,694 Charles Schwab Corp. (The) Edison International 4.000%, 10Y H15 + 3.079%, 12/01/30 (b) ...... 2,010,000 2,056,230 5.375%, 5Y H15 + 4.698%, 03/15/26 (b) ...... 1,100,000 1,108,030 Drawbridge Special Opportunities Fund L.P. Electricite de France S.A. 3.875%, 02/15/26 (144A) (a) ...... 286,000 295,855 2.875%, 5Y EUR Swap + 3.373%, 12/15/26 (EUR) (b) ...... 200,000 244,376 Enact Holdings, Inc. 3.000%, 5Y EUR Swap + 3.198%, 09/03/27 (EUR) (b) ...... 200,000 245,095 6.500%, 08/15/25 (144A) ...... 997,000 1,098,893 FirstEnergy Corp. Encore Capital Group, Inc. 2.250%, 09/01/30 ...... 51,000 48,900 4.875%, 10/15/25 (EUR) ...... 100,000 125,245 2.650%, 03/01/30 ...... 62,000 61,750 Fairstone Financial, Inc. 3.400%, 03/01/50 ...... 559,000 546,422 7.875%, 07/15/24 (144A) ...... 315,000 328,387 4.400%, 07/15/27 ...... 329,000 357,787 Garfunkelux Holdco 3 S.A. 5.350%, 07/15/47 ...... 1,244,000 1,492,800 7.750%, 11/01/25 (GBP) ...... 200,000 288,003 7.375%, 11/15/31 ...... 404,000 553,282 Global Aircraft Leasing Co., Ltd. FirstEnergy Transmission LLC 6.500%, 7.250% PIK, 09/15/24 (144A) (a) (c) ...... 735,562 739,240 4.550%, 04/01/49 (144A) ...... 403,000 472,664 Home Point Capital, Inc. 5.450%, 07/15/44 (144A) ...... 1,021,000 1,273,960 5.000%, 02/01/26 (144A) ...... 708,000 660,210 NextEra Energy Operating Partners L.P. Intrum AB 4.250%, 09/15/24 (144A) ...... 12,000 12,660 3.500%, 07/15/26 (EUR) ...... 101,000 122,012 NRG Energy, Inc. Jerrold Finco plc 3.625%, 02/15/31 (144A) ...... 711,000 698,700 5.250%, 01/15/27 (GBP) ...... 100,000 142,863 Orano S.A. Lehman Brothers Holdings, Inc. 2.750%, 03/08/28 (EUR) ...... 100,000 123,792 Zero Coupon, 02/05/14 (EUR) (d) ...... 4,500,000 56,027 Pattern Energy Operations L.P. / Pattern Energy Operations, Inc. 4.750%, 01/16/14 (EUR) (d) ...... 2,140,000 26,644 4.500%, 08/15/28 (144A) ...... 890,000 921,328 5.375%, 10/17/12 (EUR) (d) ...... 350,000 4,358

See accompanying notes to financial statements. BHFTI-120 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—(Continued) Engineering & Construction—(Continued) PG&E Corp. New Enterprise Stone & Lime Co., Inc. 5.250%, 07/01/30 (a) ...... 502,000 $ 506,769 6.250%, 03/15/26 (144A) ...... 166,000 $ 170,445 Pike Corp. 9.750%, 07/15/28 (144A) ...... 181,000 202,720 5.500%, 09/01/28 (144A) ...... 788,000 819,520 3,250,457 Public Power Corp. 3.875%, 03/30/26 (EUR) ...... 100,000 123,911 Entertainment—3.2% Vistra Operations Co. LLC Affinity Gaming 4.375%, 05/01/29 (144A) ...... 596,000 598,980 6.875%, 12/15/27 (144A) ...... 349,000 370,376 14,465,747 Boyne USA, Inc. 4.750%, 05/15/29 (144A) ...... 611,000 630,387 Electrical Components & Equipment—0.3% Caesars Entertainment, Inc. Belden, Inc. 6.250%, 07/01/25 (144A) ...... 3,483,000 3,691,980 4.125%, 10/15/26 (EUR) ...... 100,000 121,525 8.125%, 07/01/27 (144A) (a) ...... 2,594,000 2,885,047 Energizer Holdings, Inc. Caesars Resort Collection LLC / CRC Finco, Inc. 4.375%, 03/31/29 (144A) ...... 40,000 40,041 5.750%, 07/01/25 (144A) ...... 1,420,000 1,496,325 4.750%, 06/15/28 (144A) ...... 255,000 261,311 CCM Merger, Inc. WESCO Distribution, Inc. 6.375%, 05/01/26 (144A) ...... 400,000 420,000 7.125%, 06/15/25 (144A) ...... 400,000 432,280 Cedar Fair L.P. / Canada’s Wonderland Co. / Magnum 7.250%, 06/15/28 (144A) ...... 1,363,000 1,518,178 Management Corp. 2,373,335 5.500%, 05/01/25 (144A) ...... 1,840,000 1,920,500 6.500%, 10/01/28 (144A) (a) ...... 122,000 131,455 Electronics—0.5% Churchill Downs, Inc. Atkore, Inc. 4.750%, 01/15/28 (144A) ...... 377,000 390,086 4.250%, 06/01/31 (144A) ...... 435,000 440,568 5.500%, 04/01/27 (144A) ...... 655,000 682,547 Brightstar Escrow Corp. Cinemark USA, Inc. 9.750%, 10/15/25 (144A) ...... 201,000 216,326 5.250%, 07/15/28 (144A) ...... 304,000 311,600 Imola Merger Corp. 5.875%, 03/15/26 (144A) ...... 293,000 306,610 4.750%, 05/15/29 (144A) (a) ...... 1,501,000 1,544,154 Cirsa Finance International Sarl Sensata Technologies B.V. 4.750%, 05/22/25 (EUR) ...... 100,000 119,020 4.000%, 04/15/29 (144A) ...... 1,165,000 1,182,572 6.250%, 12/20/23 (EUR) ...... 100,000 120,259 5.625%, 11/01/24 (144A) ...... 161,000 178,911 7.875%, 12/20/23 (144A) ...... 200,000 203,620 Sensata Technologies, Inc. CPUK Finance, Ltd. 4.375%, 02/15/30 (144A) ...... 900,000 948,458 4.875%, 08/28/25 (GBP) ...... 100,000 139,973 Everi Holdings, Inc. 4,510,989 5.000%, 07/15/29 (144A) ...... 137,000 140,425 Gamma Bidco S.p.A. Energy-Alternate Sources—0.0% 6.250%, 07/15/25 (EUR) ...... 100,000 125,037 TerraForm Power Operating LLC International Game Technology plc 4.250%, 01/31/23 (144A) ...... 203,000 208,329 3.500%, 06/15/26 (EUR) ...... 200,000 242,842 4.750%, 01/15/30 (144A) ...... 195,000 199,713 Lions Gate Capital Holdings LLC 408,042 5.500%, 04/15/29 (144A) ...... 168,000 176,610 Live Nation Entertainment, Inc. Engineering & Construction—0.3% 3.750%, 01/15/28 (144A) ...... 419,000 420,852 Abertis Infraestructuras Finance B.V. 4.750%, 10/15/27 (144A) (a) ...... 216,000 223,830 3.248%, 5Y EUR Swap + 3.694%, 11/24/25 (EUR) (b) ...... 100,000 122,577 4.875%, 11/01/24 (144A) ...... 76,000 77,216 ARCOSA, Inc. 6.500%, 05/15/27 (144A) ...... 2,471,000 2,742,316 4.375%, 04/15/29 (144A) ...... 961,000 977,818 Merlin Entertainments, Ltd. Brand Industrial Services, Inc. 5.750%, 06/15/26 (144A) ...... 400,000 418,524 8.500%, 07/15/25 (144A) (a) ...... 889,000 903,873 Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp. Dycom Industries, Inc. 4.875%, 05/01/29 (144A) ...... 670,000 670,837 4.500%, 04/15/29 (144A) ...... 261,000 263,260 Peninsula Pacific Entertainment LLC / Peninsula Pacific Heathrow Finance plc Entertainment Finance, Inc. 4.625%, 09/01/29 (GBP) (e) ...... 100,000 142,307 8.500%, 11/15/27 (144A) ...... 613,000 658,362 MasTec, Inc. Penn National Gaming, Inc. 4.500%, 08/15/28 (144A) ...... 444,000 467,457 4.125%, 07/01/29 (144A) ...... 342,000 341,572

See accompanying notes to financial statements. BHFTI-121 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Entertainment—(Continued) Food—2.7% Pinewood Finance Co., Ltd. Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / 3.250%, 09/30/25 (GBP) ...... 100,000 $ 140,562 Albertsons LLC Powdr Corp. 3.250%, 03/15/26 (144A) ...... 769,000 $ 779,958 6.000%, 08/01/25 (144A) ...... 520,000 546,000 4.625%, 01/15/27 (144A) ...... 855,000 894,287 Raptor Acquisition Corp / Raptor Co-Issuer LLC 4.875%, 02/15/30 (144A) ...... 278,000 296,490 4.875%, 11/01/26 (144A) ...... 471,000 477,585 5.875%, 02/15/28 (144A) ...... 568,000 611,960 Scientific Games International, Inc. Bellis Acquisition Co. plc 3.375%, 02/15/26 (EUR) ...... 200,000 237,767 3.250%, 02/16/26 (GBP) ...... 100,000 138,503 5.000%, 10/15/25 (144A) ...... 617,000 637,052 Casino Guichard Perrachon S.A. 7.000%, 05/15/28 (144A) ...... 296,000 323,291 3.992%, 5Y EURIBOR ICE Swap + 3.819%, 01/31/24 7.250%, 11/15/29 (144A) ...... 290,000 327,120 (EUR) (b) ...... 100,000 87,271 8.250%, 03/15/26 (144A) ...... 873,000 936,275 5.250%, 04/15/27 (EUR) ...... 100,000 121,243 8.625%, 07/01/25 (144A) ...... 435,000 476,325 Chobani LLC / Chobani Finance Corp., Inc. SeaWorld Parks & Entertainment, Inc. 4.625%, 11/15/28 (144A) ...... 578,000 598,953 9.500%, 08/01/25 (144A) ...... 340,000 364,650 7.500%, 04/15/25 (144A) ...... 891,000 927,005 Six Flags Theme Parks, Inc. Ingles Markets, Inc. 7.000%, 07/01/25 (144A) ...... 1,938,000 2,088,583 4.000%, 06/15/31 (144A) ...... 98,000 97,878 Vail Resorts, Inc. JBS USA LUX S.A. / JBS USA Finance, Inc. 6.250%, 05/15/25 (144A) ...... 333,000 356,437 6.500%, 04/15/29 (144A) ...... 1,040,000 1,168,710 Waterford Gaming LLC / Waterford Gaming Financial Corp. JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc. .... 8.625%, 09/15/14 (144A) † (d) (f) (g) ...... 283,116 0 3.750%, 12/01/31 (144A) ...... 1,032,000 1,055,994 6.750%, 02/15/28 (144A) ...... 226,000 248,318 WMG Acquisition Corp. Kraft Heinz Foods Co. 3.875%, 07/15/30 (144A) ...... 260,000 262,574 4.250%, 03/01/31 ...... 1,855,000 2,107,259 Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. 4.375%, 06/01/46 ...... 899,000 1,018,746 5.125%, 10/01/29 (144A) ...... 1,994,000 2,106,162 4.625%, 10/01/39 ...... 178,000 207,311 7.750%, 04/15/25 (144A) (a) ...... 452,000 487,030 4.875%, 10/01/49 ...... 2,316,000 2,811,511 29,825,621 5.000%, 07/15/35 ...... 257,000 315,241 5.000%, 06/04/42 ...... 314,000 383,425 Environmental Control—0.9% 5.200%, 07/15/45 ...... 765,000 949,702 Clean Harbors, Inc. 5.500%, 06/01/50 ...... 3,494,000 4,534,348 5.125%, 07/15/29 (144A) ...... 516,000 561,150 6.500%, 02/09/40 ...... 365,000 506,903 Covanta Holding Corp. 6.875%, 01/26/39 ...... 547,000 785,716 5.000%, 09/01/30 ...... 312,000 327,600 Lamb Weston Holdings, Inc. GFL Environmental, Inc. 4.875%, 05/15/28 (144A) ...... 91,000 100,669 3.500%, 09/01/28 (144A) ...... 442,000 440,895 Picard Groupe SAS 3.750%, 08/01/25 (144A) ...... 311,000 319,552 3.000%, 3M EURIBOR + 3.000%, 11/30/23 (EUR) (b) ...... 100,000 118,466 4.000%, 08/01/28 (144A) ...... 1,120,000 1,106,392 3.875%, 07/01/26 (EUR) ...... 100,000 118,575 4.250%, 06/01/25 (144A) ...... 233,000 242,679 Post Holdings, Inc. 4.750%, 06/15/29 (144A) ...... 1,512,000 1,569,910 4.500%, 09/15/31 (144A) ...... 571,000 570,058 5.125%, 12/15/26 (144A) ...... 806,000 852,683 4.625%, 04/15/30 (144A) ...... 73,000 74,229 Madison IAQ LLC 5.500%, 12/15/29 (144A) ...... 513,000 549,551 4.125%, 06/30/28 (144A) ...... 259,000 261,590 5.750%, 03/01/27 (144A) ...... 2,000 2,093 5.875%, 06/30/29 (144A) ...... 962,000 978,835 Premier Foods Finance plc Stericycle, Inc. 3.500%, 10/15/26 (GBP) ...... 100,000 138,330 3.875%, 01/15/29 (144A) ...... 352,000 351,306 Simmons Foods, Inc. Tervita Corp. 4.625%, 03/01/29 (144A) ...... 1,147,000 1,156,967 11.000%, 12/01/25 (144A) ...... 279,000 312,405 TreeHouse Foods, Inc. Waste Pro USA, Inc. 4.000%, 09/01/28 ...... 257,000 255,073 5.500%, 02/15/26 (144A) ...... 1,075,000 1,109,669 U.S. Foods, Inc. 4.750%, 02/15/29 (144A) ...... 1,001,000 1,021,020 8,434,666 6.250%, 04/15/25 (144A) ...... 309,000 327,540 United Natural Foods, Inc. 6.750%, 10/15/28 (144A) ...... 206,000 221,689 25,300,992

See accompanying notes to financial statements. BHFTI-122 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Food Service—0.1% Healthcare-Services—(Continued) Aramark Services, Inc. CHS/Community Health Systems, Inc. 5.000%, 04/01/25 (144A) ...... 579,000 $ 593,475 6.875%, 04/15/29 (144A) ...... 440,000 $ 460,447 5.000%, 02/01/28 (144A) ...... 125,000 130,900 8.000%, 03/15/26 (144A) ...... 2,654,000 2,859,685 6.375%, 05/01/25 (144A) ...... 536,000 569,500 DaVita, Inc. 1,293,875 4.625%, 06/01/30 (144A) ...... 320,000 329,030 Encompass Health Corp. Hand/Machine Tools—0.0% 4.500%, 02/01/28 ...... 161,000 167,033 IMA Industria Macchine Automatiche SpA 4.625%, 04/01/31 ...... 504,000 540,011 3.750%, 01/15/28 (EUR) ...... 100,000 119,144 4.750%, 02/01/30 ...... 1,017,000 1,080,562 HCA, Inc. Healthcare-Products—0.7% 3.500%, 09/01/30 ...... 2,461,000 2,621,876 Avantor Funding, Inc. 5.375%, 02/01/25 ...... 38,000 42,864 4.625%, 07/15/28 (144A) ...... 2,436,000 2,571,856 5.625%, 09/01/28 ...... 1,252,000 1,483,620 Hologic, Inc. 5.875%, 02/15/26 ...... 65,000 75,117 3.250%, 02/15/29 (144A) ...... 210,000 208,163 5.875%, 02/01/29 ...... 153,000 184,748 Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics S.A. Indigo Merger Sub, Inc. 7.250%, 02/01/28 (144A) ...... 2,216,000 2,420,426 2.875%, 07/15/26 (144A) ...... 1,042,000 1,058,474 7.375%, 06/01/25 (144A) ...... 780,000 837,525 IQVIA, Inc. Teleflex, Inc. 5.000%, 10/15/26 (144A) ...... 299,000 309,465 4.250%, 06/01/28 (144A) ...... 435,000 453,487 Korian S.A. 4.125%, 5Y UKG + 9.079%, 03/15/24 (GBP) (b) ...... 100,000 139,669 6,491,457 Legacy LifePoint Health LLC 4.375%, 02/15/27 (144A) ...... 161,000 162,932 Healthcare-Services—5.1% 6.750%, 04/15/25 (144A) ...... 412,000 439,048 Acadia Healthcare Co., Inc. LifePoint Health, Inc. 5.000%, 04/15/29 (144A) ...... 382,000 398,395 5.375%, 01/15/29 (144A) ...... 890,000 867,750 5.500%, 07/01/28 (144A) ...... 436,000 465,430 MEDNAX, Inc. AHP Health Partners, Inc...... 6.250%, 01/15/27 (144A) ...... 575,000 608,781 5.750%, 07/15/29 (144A) ...... 733,000 743,079 ModivCare, Inc. 9.750%, 07/15/26 (144A) ...... 816,000 877,853 5.875%, 11/15/25 (144A) ...... 170,000 181,900 Akumin, Inc. Molina Healthcare, Inc. 7.000%, 11/01/25 (144A) ...... 264,000 274,082 3.875%, 11/15/30 (144A) ...... 739,000 769,484 CAB SELAS 4.375%, 06/15/28 (144A) ...... 497,000 518,123 3.375%, 02/01/28 (EUR) ...... 100,000 117,982 Prime Healthcare Services, Inc. Catalent Pharma Solutions, Inc. 7.250%, 11/01/25 (144A) ...... 1,356,000 1,467,978 2.375%, 03/01/28 (EUR) ...... 186,000 220,991 RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, 3.125%, 02/15/29 (144A) ...... 447,000 432,866 Inc. 5.000%, 07/15/27 (144A) ...... 82,000 85,687 9.750%, 12/01/26 (144A) ...... 235,000 252,919 Centene Corp. RP Escrow Issuer LLC 2.450%, 07/15/28 ...... 2,069,000 2,096,931 5.250%, 12/15/25 (144A) ...... 343,000 358,006 2.500%, 03/01/31 ...... 2,788,000 2,749,665 Surgery Center Holdings, Inc. 3.000%, 10/15/30 ...... 1,820,000 1,869,650 6.750%, 07/01/25 (144A) (a) ...... 1,440,000 1,468,800 4.250%, 12/15/27 ...... 576,000 606,960 10.000%, 04/15/27 (144A) (a) ...... 877,000 962,507 4.625%, 12/15/29 ...... 3,081,000 3,388,391 Syneos Health, Inc. Charles River Laboratories International, Inc. 3.625%, 01/15/29 (144A) ...... 1,063,000 1,052,370 3.750%, 03/15/29 (144A) ...... 88,000 89,210 Tenet Healthcare Corp. 4.000%, 03/15/31 (144A) ...... 249,000 259,042 4.250%, 06/01/29 (144A) ...... 787,000 796,838 4.250%, 05/01/28 (144A) ...... 88,000 90,970 4.625%, 09/01/24 (144A) ...... 336,000 344,857 Chrome Bidco SASU 4.625%, 06/15/28 (144A) ...... 152,000 156,438 3.500%, 05/31/28 (EUR) ...... 100,000 120,205 4.875%, 01/01/26 (144A) ...... 2,113,000 2,191,604 CHS/Community Health Systems, Inc. 5.125%, 11/01/27 (144A) ...... 1,279,000 1,341,351 5.625%, 03/15/27 (144A) ...... 1,386,000 1,479,555 6.125%, 10/01/28 (144A) ...... 1,341,000 1,429,023 6.000%, 01/15/29 (144A) ...... 1,144,000 1,224,080 6.250%, 02/01/27 (144A) ...... 96,000 100,200 6.125%, 04/01/30 (144A) ...... 690,000 700,350 7.500%, 04/01/25 (144A) ...... 554,000 598,392 6.625%, 02/15/25 (144A) ...... 2,559,000 2,706,117

See accompanying notes to financial statements. BHFTI-123 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Healthcare-Services—(Continued) Household Products/Wares—(Continued) U.S. Acute Care Solutions LLC Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. 6.375%, 03/01/26 (144A) ...... 87,000 $ 89,897 5.000%, 12/31/26 (144A) ...... 449,000 $ 455,735 48,509,290 Ontex Group NV 3.500%, 07/15/26 (EUR) ...... 100,000 118,427 Home Builders—0.7% Spectrum Brands, Inc. Ashton Woods USA LLC / Ashton Woods Finance Co. 3.875%, 03/15/31 (144A) ...... 245,000 240,744 6.625%, 01/15/28 (144A) ...... 145,000 154,425 5.000%, 10/01/29 (144A) ...... 219,000 232,140 Brookfield Residential Properties, Inc. / Brookfield Residential U.S. 5.500%, 07/15/30 (144A) ...... 113,000 121,758 Corp. 2,128,825 4.875%, 02/15/30 (144A) ...... 816,000 808,085 5.000%, 06/15/29 (144A) ...... 548,000 552,110 Housewares—0.2% Forestar Group, Inc. CD&R Smokey Buyer, Inc. 3.850%, 05/15/26 (144A) ...... 268,000 270,425 6.750%, 07/15/25 (144A) ...... 877,000 940,039 Installed Building Products, Inc. Newell Brands, Inc. 5.750%, 02/01/28 (144A) ...... 273,000 287,332 4.875%, 06/01/25 ...... 166,000 183,637 K Hovnanian Enterprises, Inc. 6.000%, 04/01/46 ...... 100,000 126,720 7.750%, 02/15/26 (144A) (a) ...... 710,000 752,600 Scotts Miracle-Gro Co. (The) KB Home 4.000%, 04/01/31 (144A) ...... 666,000 663,922 4.000%, 06/15/31 ...... 257,000 259,249 LGI Homes, Inc. 1,914,318 4.000%, 07/15/29 (144A) ...... 209,000 210,045 Mattamy Group Corp. Insurance—1.4% 4.625%, 03/01/30 (144A) ...... 445,000 454,567 Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 5.250%, 12/15/27 (144A) ...... 310,000 323,950 4.250%, 10/15/27 (144A) ...... 3,036,000 3,081,510 Meritage Homes Corp. 6.750%, 10/15/27 (144A) ...... 4,285,000 4,503,364 5.125%, 06/06/27 ...... 129,000 144,158 AmWINS Group, Inc. New Home Co., Inc. (The) 7.750%, 07/01/26 (144A) ...... 243,000 257,738 7.250%, 10/15/25 (144A) ...... 160,000 169,552 Ardonagh Midco 2 plc Picasso Finance Sub, Inc. 11.500%, 12.750% PIK, 01/15/27 (144A) (a) (c) ...... 212,820 233,038 6.125%, 06/15/25 (144A) ...... 645,000 681,926 AssuredPartners, Inc. Taylor Morrison Communities, Inc. 5.625%, 01/15/29 (144A) ...... 587,000 587,000 5.125%, 08/01/30 (144A) ...... 88,000 95,381 BroadStreet Partners, Inc. 5.875%, 06/15/27 (144A) ...... 26,000 29,413 5.875%, 04/15/29 (144A) ...... 496,000 505,920 Toll Brothers Finance Corp. Galaxy Bidco, Ltd. 4.350%, 02/15/28 ...... 29,000 31,828 6.500%, 07/31/26 (GBP) ...... 100,000 145,765 TRI Pointe Homes, Inc. GTCR AP Finance, Inc. 5.250%, 06/01/27 ...... 174,000 188,790 8.000%, 05/15/27 (144A) (a) ...... 671,000 714,615 5.700%, 06/15/28 ...... 120,000 132,300 Highlands Holdings Bond Issuer, Ltd. / Highlands Holdings Bond 5.875%, 06/15/24 ...... 107,000 119,048 Co-Issuer, Inc. Williams Scotsman International, Inc. 7.625%, 8.375% PIK, 10/15/25 (144A) (c) ...... 450,000 476,028 4.625%, 08/15/28 (144A) ...... 513,000 529,775 HUB International, Ltd. Winnebago Industries, Inc. 7.000%, 05/01/26 (144A) ...... 2,036,000 2,111,515 6.250%, 07/15/28 (144A) ...... 294,000 316,785 MGIC Investment Corp. 6,511,744 5.250%, 08/15/28 ...... 332,000 351,920 Societa Cattolica di Assicurazioni Home Furnishings—0.1% 4.250%, 3M EURIBOR + 4.455%, 12/14/47 (EUR) (b) ...... 100,000 133,580 Tempur Sealy International, Inc. Unipol Gruppo S.p.A. 4.000%, 04/15/29 (144A) ...... 693,000 701,628 3.250%, 09/23/30 (EUR) ...... 125,000 166,621 WASH Multifamily Acquisition, Inc. 5.750%, 04/15/26 (144A) ...... 558,000 582,608 13,268,614

1,284,236 Internet—1.6% Acuris Finance U.S., Inc. / Acuris Finance Sarl Household Products/Wares—0.2% 5.000%, 05/01/28 (144A) ...... 1,060,000 1,056,672 Central Garden & Pet Co. ANGI Group LLC 4.125%, 10/15/30 ...... 439,000 448,329 3.875%, 08/15/28 (144A) (a) ...... 820,000 814,875 4.125%, 04/30/31 (144A) ...... 506,000 511,692

See accompanying notes to financial statements. BHFTI-124 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Internet—(Continued) Iron/Steel—0.6% Arches Buyer, Inc. Allegheny Technologies, Inc. 4.250%, 06/01/28 (144A) ...... 241,000 $ 238,289 7.875%, 08/15/23 ...... 158,000 $ 173,208 6.125%, 12/01/28 (144A) (a) ...... 105,000 108,150 Big River Steel LLC / BRS Finance Corp. Cablevision Lightpath LLC 6.625%, 01/31/29 (144A) ...... 3,666,000 4,037,182 3.875%, 09/15/27 (144A) ...... 359,000 354,814 thyssenKrupp AG 5.625%, 09/15/28 (144A) ...... 532,000 541,842 1.875%, 03/06/23 (EUR) ...... 43,000 51,083 Endure Digital Inc 2.875%, 02/22/24 (EUR) ...... 181,000 217,669 6.000%, 02/15/29 (144A) ...... 445,000 440,550 TMS International Corp. Go Daddy Operating Co. LLC / GD Finance Co., Inc. 6.250%, 04/15/29 (144A) ...... 276,000 289,800 3.500%, 03/01/29 (144A) ...... 317,000 314,939 United States Steel Corp. 5.250%, 12/01/27 (144A) ...... 172,000 180,600 6.250%, 03/15/26 ...... 36,000 37,109 ION Trading Technologies Sarl 6.875%, 03/01/29 ...... 687,000 735,090 5.750%, 05/15/28 (144A) (a) ...... 506,000 525,347 5,541,141 Match Group Holdings II LLC 4.125%, 08/01/30 (144A) ...... 103,000 104,802 Leisure Time—1.5% 4.625%, 06/01/28 (144A) ...... 9,000 9,359 Carnival Corp. MercadoLibre, Inc. 5.750%, 03/01/27 (144A) ...... 3,743,000 3,920,792 2.375%, 01/14/26 ...... 3,000 3,020 9.875%, 08/01/27 (144A) ...... 511,000 596,592 Netflix, Inc. 10.125%, 02/01/26 (EUR) ...... 134,000 185,306 3.625%, 06/15/30 (EUR) ...... 118,000 166,223 10.500%, 02/01/26 (144A) ...... 1,043,000 1,214,313 4.875%, 06/15/30 (144A) ...... 510,000 606,543 11.500%, 04/01/23 (144A) ...... 1,204,000 1,354,982 5.375%, 11/15/29 (144A) ...... 255,000 309,722 Life Time, Inc. 5.875%, 11/15/28 ...... 1,109,000 1,361,220 5.750%, 01/15/26 (144A) ...... 801,000 830,036 6.375%, 05/15/29 ...... 83,000 106,012 8.000%, 04/15/26 (144A) ...... 548,000 584,026 Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc. 6.000%, 02/15/28 (144A) (a) ...... 611,000 612,338 MajorDrive Holdings IV LLC 10.750%, 06/01/28 (144A) ...... 199,000 223,875 6.375%, 06/01/29 (144A) ...... 273,000 272,318 Rakuten Group, Inc. NCL Corp., Ltd. 4.250%, 5Y EUR Swap + 4.740%, 04/22/27 (EUR) (b) ...... 200,000 244,265 5.875%, 03/15/26 (144A) ...... 603,000 631,642 Twitter, Inc. 10.250%, 02/01/26 (144A) ...... 263,000 305,738 3.875%, 12/15/27 (144A) ...... 707,000 751,187 NCL Finance, Ltd. Uber Technologies, Inc. 6.125%, 03/15/28 (144A) ...... 871,000 912,764 6.250%, 01/15/28 (144A) ...... 1,197,000 1,288,223 Royal Caribbean Cruises, Ltd. 7.500%, 05/15/25 (144A) ...... 1,898,000 2,048,322 5.500%, 04/01/28 (144A) ...... 1,501,000 1,571,997 7.500%, 09/15/27 (144A) ...... 1,578,000 1,734,190 9.125%, 06/15/23 (144A) ...... 362,000 397,295 8.000%, 11/01/26 (144A) ...... 624,000 672,360 10.875%, 06/01/23 (144A) ...... 230,000 261,913 United Group B.V. 11.500%, 06/01/25 (144A) ...... 480,000 553,200 4.000%, 11/15/27 (EUR) ...... 150,000 176,600 Viking Cruises, Ltd. 4.875%, 07/01/24 (EUR) ...... 100,000 119,850 7.000%, 02/15/29 (144A) (a) ...... 108,000 112,366 Viking Ocean Cruises Ship VII, Ltd. 15,114,189 5.625%, 02/15/29 (144A) ...... 483,000 487,830

Investment Companies—0.4% 14,193,110 Compass Group Diversified Holdings LLC. 5.250%, 04/15/29 (144A) ...... 645,000 670,800 Lodging—0.8% Hightower Holding LLC Boyd Gaming Corp. 6.750%, 04/15/29 (144A) ...... 291,000 296,820 4.750%, 12/01/27 ...... 386,000 399,510 Icahn Enterprises L.P. / Icahn Enterprises Finance Corp. 4.750%, 06/15/31 (144A) ...... 997,000 1,034,387 4.375%, 02/01/29 (144A) ...... 805,000 800,975 8.625%, 06/01/25 (144A) ...... 542,000 597,485 4.750%, 09/15/24 ...... 301,000 314,545 Full House Resorts, Inc. 5.250%, 05/15/27 (144A) ...... 673,000 694,872 8.250%, 02/15/28 (144A) ...... 155,000 168,950 5.250%, 05/15/27 ...... 860,000 887,946 Genting New York LLC 6.250%, 05/15/26 ...... 124,000 131,564 3.300%, 02/15/26 (144A) ...... 204,000 205,929 Owl Rock Technology Finance Corp. Hilton Domestic Operating Co., Inc. 3.750%, 06/17/26 (144A) ...... 305,000 320,709 4.000%, 05/01/31 (144A) ...... 573,000 578,083 4.875%, 01/15/30 ...... 1,326,000 1,415,505 4,118,231

See accompanying notes to financial statements. BHFTI-125 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Lodging—(Continued) Machinery-Diversified—(Continued) Hilton Domestic Operating Co., Inc. TK Elevator Midco GmbH 5.375%, 05/01/25 (144A) ...... 131,000 $ 137,877 4.375%, 07/15/27 (EUR) ...... 100,000 $ 123,829 5.750%, 05/01/28 (144A) ...... 117,000 126,602 TK Elevator U.S. Newco, Inc. Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand 5.250%, 07/15/27 (144A) ...... 1,979,000 2,085,371 Vacations Borrower ESC Vertical Holdco GmbH 4.875%, 07/01/31 (144A) ...... 126,000 125,670 6.625%, 07/15/28 (EUR) ...... 100,000 126,288 Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. 7.625%, 07/15/28 (144A) (a) ...... 1,430,000 1,551,822 4.875%, 04/01/27 ...... 361,000 376,342 8,932,630 Marriott Ownership Resorts, Inc. 4.500%, 06/15/29 (144A) ...... 403,000 408,541 Media—5.9% Marriott Ownership Resorts, Inc. / ILG LLC Altice Financing S.A. 6.500%, 09/15/26 (a) ...... 86,000 89,333 2.250%, 01/15/25 (EUR) ...... 100,000 115,019 MGM Resorts International 3.000%, 01/15/28 (EUR) ...... 148,000 166,834 5.750%, 06/15/25 ...... 61,000 67,268 5.000%, 01/15/28 (144A) ...... 958,000 939,003 Station Casinos LLC 7.500%, 05/15/26 (144A) ...... 2,151,000 2,239,836 4.500%, 02/15/28 (144A) ...... 422,000 429,193 AMC Networks, Inc. Travel & Leisure Co. 4.250%, 02/15/29 ...... 303,000 305,651 6.625%, 07/31/26 (144A) ...... 360,000 407,880 4.750%, 08/01/25 (a) ...... 595,000 610,887 Wyndham Hotels & Resorts, Inc. Block Communications, Inc. 4.375%, 08/15/28 (144A) ...... 314,000 325,998 4.875%, 03/01/28 (144A) ...... 285,000 290,700 Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. Cable One, Inc. 5.250%, 05/15/27 (144A) ...... 426,000 457,567 4.000%, 11/15/30 (144A) ...... 422,000 423,583 7,352,120 CCO Holdings LLC / CCO Holdings Capital Corp. 4.250%, 02/01/31 (144A) ...... 1,458,000 1,485,337 Machinery-Construction & Mining—0.2% 4.500%, 08/15/30 (144A) (a) ...... 1,629,000 1,696,137 BWX Technologies, Inc. 4.500%, 05/01/32 ...... 1,748,000 1,811,365 4.125%, 06/30/28 (144A) ...... 549,000 559,294 4.500%, 06/01/33 (144A) ...... 957,000 979,260 4.125%, 04/15/29 (144A) ...... 447,000 454,822 4.750%, 03/01/30 (144A) ...... 655,000 692,663 Terex Corp. 5.000%, 02/01/28 (144A) ...... 950,000 996,312 5.000%, 05/15/29 (144A) ...... 762,000 794,385 5.375%, 06/01/29 (144A) ...... 557,000 608,857 1,808,501 Clear Channel Worldwide Holdings, Inc. 5.125%, 08/15/27 (144A) ...... 3,919,000 4,017,837 Machinery-Diversified—0.9% CSC Holdings LLC ATS Automation Tooling Systems, Inc. 4.125%, 12/01/30 (144A) ...... 649,000 644,944 4.125%, 12/15/28 (144A) ...... 237,000 242,629 4.500%, 11/15/31 (144A) ...... 1,224,000 1,231,515 Clark Equipment Co. 4.625%, 12/01/30 (144A) ...... 4,048,000 3,971,533 5.875%, 06/01/25 (144A) ...... 561,000 593,257 5.000%, 11/15/31 (144A) ...... 1,154,000 1,159,539 Colfax Corp. 5.375%, 02/01/28 (144A) ...... 223,000 235,923 6.375%, 02/15/26 (144A) ...... 258,000 272,448 5.750%, 01/15/30 (144A) ...... 1,007,000 1,046,021 GrafTech Finance, Inc. 6.500%, 02/01/29 (144A) ...... 741,000 820,732 4.625%, 12/15/28 (144A) ...... 736,000 755,320 Diamond Sports Group LLC / Diamond Sports Finance Co. Husky III Holding, Ltd. 5.375%, 08/15/26 (144A) ...... 496,000 321,160 13.000%, PIK, 02/15/25 (144A) (a) (c) ...... 720,000 781,200 DISH DBS Corp. Mueller Water Products, Inc. 5.000%, 03/15/23 ...... 1,800,000 1,883,934 4.000%, 06/15/29 (144A) ...... 271,000 278,485 5.125%, 06/01/29 (144A) ...... 2,495,000 2,463,638 Platin 1426 GmbH 5.875%, 07/15/22 ...... 1,627,000 1,697,286 5.375%, 06/15/23 (EUR) ...... 100,000 119,381 5.875%, 11/15/24 ...... 408,000 438,090 RBS Global, Inc. / Rexnord LLC 7.750%, 07/01/26 (a) ...... 1,132,000 1,281,990 GCI LLC 4.875%, 12/15/25 (144A) ...... 16,000 16,320 Renk AG 4.750%, 10/15/28 (144A) ...... 189,000 193,442 5.750%, 07/15/25 (EUR) ...... 100,000 123,342 iHeartCommunications, Inc. Stevens Holding Co., Inc. 8.375%, 05/01/27 ...... 90,667 97,127 6.125%, 10/01/26 (144A) ...... 365,000 391,463 LCPR Senior Secured Financing DAC Titan Acquisition, Ltd. / Titan Co-Borrower LLC 5.125%, 07/15/29 (144A) ...... 1,142,000 1,180,542 7.750%, 04/15/26 (144A) ...... 1,420,000 1,471,475 6.750%, 10/15/27 (144A) ...... 1,526,000 1,644,570

See accompanying notes to financial statements. BHFTI-126 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Media—(Continued) Mining—1.5% Meredith Corp. Arconic Corp. 6.875%, 02/01/26 (a) ...... 127,000 $ 132,080 6.000%, 05/15/25 (144A) ...... 294,000 $ 313,336 Midcontinent Communications / Midcontinent Finance Corp. 6.125%, 02/15/28 (144A) ...... 805,000 863,540 5.375%, 08/15/27 (144A) ...... 366,000 384,300 Constellium SE News Corp. 3.750%, 04/15/29 (144A) ...... 1,966,000 1,946,340 3.875%, 05/15/29 (144A) ...... 320,000 323,200 5.625%, 06/15/28 (144A) ...... 513,000 550,192 Radiate Holdco LLC / Radiate Finance, Inc. 5.875%, 02/15/26 (144A) ...... 1,187,000 1,222,254 4.500%, 09/15/26 (144A) ...... 1,705,000 1,764,675 Freeport-McMoRan, Inc. 6.500%, 09/15/28 (144A) ...... 3,980,000 4,181,587 4.375%, 08/01/28 ...... 910,000 961,187 Scripps Escrow II, Inc. 5.400%, 11/14/34 ...... 166,000 200,496 3.875%, 01/15/29 (144A) ...... 37,000 36,705 5.450%, 03/15/43 ...... 2,732,000 3,339,378 5.375%, 01/15/31 (144A) ...... 375,000 373,815 Joseph T Ryerson & Son, Inc. Sinclair Television Group, Inc. 8.500%, 08/01/28 (144A) ...... 375,000 416,250 4.125%, 12/01/30 (144A) ...... 868,000 852,810 Kaiser Aluminum Corp. Sirius XM Radio, Inc. 4.500%, 06/01/31 (144A) ...... 338,000 346,633 4.000%, 07/15/28 (144A) ...... 1,449,000 1,492,470 4.625%, 03/01/28 (144A) ...... 131,000 135,340 4.125%, 07/01/30 (144A) (a) ...... 721,000 727,402 New Gold, Inc. 5.000%, 08/01/27 (144A) ...... 524,000 549,021 6.375%, 05/15/25 (144A) ...... 177,000 182,753 Summer BidCo B.V. 7.500%, 07/15/27 (144A) ...... 974,000 1,056,790 9.000%, PIK,11/15/25 (EUR) (c) ...... 104,875 126,708 Novelis Corp. TEGNA, Inc. 4.750%, 01/30/30 (144A) ...... 1,849,000 1,941,450 5.500%, 09/15/24 (144A) (a) ...... 95,000 96,663 5.875%, 09/30/26 (144A) ...... 320,000 332,881 Telenet Finance Luxembourg Notes S.a.r.l. Novelis Sheet Ingot Gmbh Co. 5.500%, 03/01/28 (144A) ...... 800,000 841,600 3.375%, 04/15/29 (EUR) ...... 100,000 121,575 Univision Communications, Inc. Vedanta Resources Finance II plc 5.125%, 02/15/25 (144A) ...... 248,000 253,010 8.950%, 03/11/25 (144A) ...... 574,000 562,807 6.625%, 06/01/27 (144A) ...... 454,000 491,932 14,493,202 UPC Broadband Finco B.V. 4.875%, 07/15/31 (144A) ...... 1,160,000 1,162,668 Miscellaneous Manufacturing—0.5% UPC Holding B.V. Amsted Industries, Inc. 3.875%, 06/15/29 (EUR) ...... 100,000 120,129 5.625%, 07/01/27 (144A) ...... 339,000 357,221 UPCB Finance VII, Ltd. Bombardier, Inc. 3.625%, 06/15/29 (EUR) ...... 100,000 121,073 7.125%, 06/15/26 (144A) ...... 1,702,000 1,781,994 Videotron, Ltd. 7.450%, 05/01/34 (144A) ...... 110,000 117,700 3.625%, 06/15/29 (144A) (a) ...... 962,000 980,961 7.500%, 12/01/24 (144A) ...... 1,040,000 1,086,800 Virgin Media Vendor Financing Notes IV DAC 7.500%, 03/15/25 (144A) ...... 69,000 70,956 5.000%, 07/15/28 (144A) (a) ...... 1,272,000 1,297,440 7.875%, 04/15/27 (144A) ...... 790,000 819,625 Ziggo B.V. EnPro Industries, Inc. 4.250%, 01/15/27 (EUR) ...... 80,000 98,246 5.750%, 10/15/26 ...... 161,000 169,791 4.875%, 01/15/30 (144A) ...... 585,000 599,625 Gates Global LLC / Gates Corp. 5.500%, 01/15/27 (144A) ...... 627,000 651,453 6.250%, 01/15/26 (144A) ...... 453,000 474,524 Ziggo Bond Co. B.V. 5.125%, 02/28/30 (144A) ...... 248,000 253,826 4,878,611 6.000%, 01/15/27 (144A) ...... 351,000 366,795 Office/Business Equipment—0.1% 55,971,461 CDW LLC / CDW Finance Corp. 3.250%, 02/15/29 ...... 621,000 629,197 Metal Fabricate/Hardware—0.1% Xerox Corp. Advanced Drainage Systems, Inc. 4.800%, 03/01/35 ...... 435,000 436,632 5.000%, 09/30/27 (144A) ...... 561,000 582,329 Grinding Media, Inc. / Moly-Cop AltaSteel, Ltd. 1,065,829 7.375%, 12/15/23 (144A) ...... 730,000 746,454 Oil & Gas—5.9% 1,328,783 Aethon United BR L.P. / Aethon United Finance Corp. 8.250%, 02/15/26 (144A) ...... 1,537,000 1,664,110

See accompanying notes to financial statements. BHFTI-127 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—(Continued) Oil & Gas—(Continued) Antero Resources Corp. Great Western Petroleum LLC / Great Western Finance Corp. 5.375%, 03/01/30 (144A) ...... 477,000 $ 486,841 12.000%, 09/01/25 (144A) ...... 296,000 $ 294,520 7.625%, 02/01/29 (144A) ...... 601,000 667,110 Hilcorp Energy I L.P. / Hilcorp Finance Co. Apache Corp. 5.750%, 02/01/29 (144A) ...... 131,000 136,568 4.250%, 01/15/30 (a) ...... 513,000 541,215 6.000%, 02/01/31 (144A) ...... 183,000 193,980 4.250%, 01/15/44 (a) ...... 170,000 166,110 Independence Energy Finance LLC 4.375%, 10/15/28 ...... 98,000 104,321 7.250%, 05/01/26 (144A) ...... 1,074,000 1,127,883 4.750%, 04/15/43 (a) ...... 1,328,000 1,380,722 Indigo Natural Resources LLC 4.875%, 11/15/27 ...... 446,000 483,014 5.375%, 02/01/29 (144A) ...... 1,634,000 1,707,530 5.100%, 09/01/40 ...... 552,000 578,220 Matador Resources Co. 5.250%, 02/01/42 ...... 134,000 141,705 5.875%, 09/15/26 (a) ...... 1,942,000 2,000,260 5.350%, 07/01/49 ...... 164,000 172,610 MEG Energy Corp. Ascent Resources Utica Holdings LLC / ARU Finance Corp. 5.875%, 02/01/29 (144A) (a) ...... 207,000 215,797 5.875%, 06/30/29 (144A) ...... 1,015,000 1,015,000 7.125%, 02/01/27 (144A) ...... 102,000 108,663 9.000%, 11/01/27 (144A) ...... 920,000 1,271,569 Murphy Oil Corp. Baytex Energy Corp. 5.750%, 08/15/25 ...... 271,000 278,114 8.750%, 04/01/27 (144A) ...... 179,000 180,342 6.375%, 12/01/42 ...... 64,000 63,384 BP Capital Markets plc Neptune Energy Bondco plc 4.250%, 5Y UKG + 4.170%, 03/22/27 (GBP) (b) ...... 100,000 146,478 6.625%, 05/15/25 (144A) ...... 400,000 410,680 Callon Petroleum Co. Northern Oil and Gas, Inc. 6.125%, 10/01/24 ...... 289,000 284,893 8.125%, 03/01/28 (144A) (a) ...... 1,195,000 1,287,612 6.250%, 04/15/23 ...... 99,000 99,115 Occidental Petroleum Corp. 8.000%, 08/01/28 (144A) ...... 1,507,000 1,523,954 2.700%, 02/15/23 ...... 140,000 143,108 9.000%, 04/01/25 (144A) ...... 1,897,000 2,067,730 2.900%, 08/15/24 ...... 1,085,000 1,109,412 Centennial Resource Production LLC 3.000%, 02/15/27 ...... 12,000 11,910 6.875%, 04/01/27 (144A) (a) ...... 1,429,000 1,461,310 3.200%, 08/15/26 ...... 42,000 42,315 Chesapeake Energy Corp. 3.400%, 04/15/26 ...... 166,000 169,735 5.500%, 02/01/26 (144A) ...... 50,000 52,750 4.100%, 02/15/47 ...... 171,000 159,222 5.875%, 02/01/29 (144A) ...... 163,000 176,440 4.200%, 03/15/48 ...... 694,000 648,890 CITGO Petroleum Corp. 4.300%, 08/15/39 ...... 1,100,000 1,050,500 6.375%, 06/15/26 (144A) ...... 581,000 605,692 4.400%, 04/15/46 ...... 999,000 959,539 7.000%, 06/15/25 (144A) ...... 600,000 625,242 4.400%, 08/15/49 (a) ...... 257,000 246,720 CNX Resources Corp. 4.500%, 07/15/44 ...... 441,000 424,462 6.000%, 01/15/29 (144A) ...... 632,000 683,331 4.625%, 06/15/45 (a) ...... 1,154,000 1,125,150 Colgate Energy Partners III LLC 5.500%, 12/01/25 ...... 208,000 229,844 5.875%, 07/01/29 (144A) ...... 794,000 823,775 5.550%, 03/15/26 ...... 76,000 83,980 7.750%, 02/15/26 (144A) ...... 298,000 326,682 6.125%, 01/01/31 (a) ...... 528,000 621,208 Comstock Resources, Inc. 6.200%, 03/15/40 ...... 2,242,000 2,535,074 5.875%, 01/15/30 (144A) ...... 712,000 726,240 6.600%, 03/15/46 ...... 51,000 60,624 6.750%, 03/01/29 (144A) (a) ...... 1,278,000 1,361,364 6.950%, 07/01/24 ...... 153,000 172,351 7.500%, 05/15/25 (144A) ...... 352,000 365,200 8.875%, 07/15/30 ...... 93,000 124,377 Continental Resources, Inc. Ovintiv Exploration, Inc. 4.500%, 04/15/23 ...... 51,000 53,070 5.375%, 01/01/26 ...... 82,000 92,410 4.900%, 06/01/44 (a) ...... 239,000 270,669 Ovintiv, Inc. 5.750%, 01/15/31 (144A) (a) ...... 362,000 433,495 6.500%, 08/15/34 ...... 297,000 392,074 CrownRock L.P. / CrownRock Finance, Inc. 7.375%, 01/11/31 ...... 186,000 246,954 5.625%, 10/15/25 (144A) ...... 1,929,000 1,996,515 Parkland Corp. Endeavor Energy Resources L.P. / EER Finance, Inc. 4.500%, 10/01/29 (144A) ...... 260,000 264,209 5.500%, 01/30/26 (144A) ...... 2,033,000 2,111,779 5.875%, 07/15/27 (144A) ...... 473,000 504,157 5.750%, 01/30/28 (144A) ...... 98,000 104,493 PBF Holding Co. LLC / PBF Finance Corp. EQT Corp. 9.250%, 05/15/25 (144A) ...... 2,045,000 2,060,113 3.125%, 05/15/26 (144A) ...... 467,000 478,540 PDC Energy, Inc. 3.625%, 05/15/31 (144A) ...... 131,000 136,567 6.125%, 09/15/24 ...... 279,000 285,333 3.900%, 10/01/27 ...... 707,000 757,374 6.250%, 12/01/25 ...... 246,000 254,610 5.000%, 01/15/29 ...... 172,000 191,775 8.500%, 02/01/30 ...... 458,000 596,733

See accompanying notes to financial statements. BHFTI-128 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—(Continued) Packaging & Containers—(Continued) Range Resources Corp. Crown Cork & Seal Co., Inc. 4.875%, 05/15/25 ...... 210,000 $ 217,350 7.375%, 12/15/26 ...... 79,000 $ 96,775 8.250%, 01/15/29 (144A) (a) ...... 316,000 356,290 Graham Packaging Co., Inc. 9.250%, 02/01/26 ...... 68,000 74,970 7.125%, 08/15/28 (144A) ...... 228,000 245,670 Repsol International Finance B.V. Intelligent Packaging, Ltd. Finco, Inc. / Intelligent Packaging, Ltd. 3.750%, 5Y EUR Swap + 4.000%, 03/11/26 (EUR) (b) ...... 100,000 126,853 Co-Issuer LLC SM Energy Co. 6.000%, 09/15/28 (144A) ...... 777,000 808,080 5.625%, 06/01/25 ...... 68,000 67,320 Intertape Polymer Group, Inc. 6.500%, 07/15/28 ...... 515,000 529,162 4.375%, 06/15/29 (144A) ...... 354,000 358,972 6.625%, 01/15/27 ...... 171,000 175,702 LABL Escrow Issuer LLC 6.750%, 09/15/26 (a) ...... 114,000 115,995 6.750%, 07/15/26 (144A) ...... 339,000 361,621 10.000%, 01/15/25 (144A) (a) ...... 1,846,000 2,082,916 10.500%, 07/15/27 (144A) ...... 423,000 466,357 Southwestern Energy Co. Mauser Packaging Solutions Holding Co. 7.500%, 04/01/26 ...... 68,000 71,995 5.500%, 04/15/24 (144A) ...... 1,054,000 1,064,540 8.375%, 09/15/28 (a) ...... 157,000 177,410 OI European Group B.V. Sunoco L.P. / Sunoco Finance Corp. 2.875%, 02/15/25 (EUR) ...... 100,000 120,263 5.875%, 03/15/28 ...... 282,000 299,625 3.125%, 11/15/24 (EUR) ...... 100,000 122,590 6.000%, 04/15/27 (a) ...... 131,000 136,993 Sealed Air Corp. Transocean, Inc. 4.000%, 12/01/27 (144A) ...... 179,000 190,411 11.500%, 01/30/27 (144A) ...... 330,000 352,669 Trivium Packaging Finance B.V. Vine Energy Holdings LLC 3.750%, 08/15/26 (EUR) ...... 128,000 153,871 6.750%, 04/15/29 (144A) ...... 1,517,000 1,596,642 5.500%, 08/15/26 (144A) ...... 2,578,000 2,708,705 Viper Energy Partners L.P. 8.500%, 08/15/27 (144A) (a) ...... 3,734,000 4,059,605 5.375%, 11/01/27 (144A) ...... 275,000 286,470 19,442,084 55,825,729 Pharmaceuticals—2.3% Oil & Gas Services—0.5% AdaptHealth LLC Archrock Partners L.P. / Archrock Partners Finance Corp. 4.625%, 08/01/29 (144A) ...... 675,000 683,438 6.250%, 04/01/28 (144A) ...... 779,000 813,206 6.125%, 08/01/28 (144A) ...... 308,000 327,986 6.875%, 04/01/27 (144A) ...... 416,000 441,480 Bausch Health Americas, Inc. ChampionX Corp. 8.500%, 01/31/27 (144A) ...... 643,000 698,877 6.375%, 05/01/26 ...... 415,000 434,671 Bausch Health Cos., Inc. Pioneer Energy Services Corp. 4.875%, 06/01/28 (144A) ...... 1,861,000 1,904,734 11.000%, PIK, 05/15/25 (144A) † (c) (f) (g) ...... 696,322 701,544 5.000%, 01/30/28 (144A) ...... 49,000 46,489 TechnipFMC plc 5.000%, 02/15/29 (144A) ...... 926,000 863,495 6.500%, 02/01/26 (144A) ...... 1,122,000 1,211,497 5.250%, 01/30/30 (144A) ...... 473,000 439,890 U.S.A. Compression Partners L.P. / U.S.A. Compression Finance Corp. 5.250%, 02/15/31 (144A) ...... 17,000 15,869 6.875%, 04/01/26 ...... 556,000 582,410 5.750%, 08/15/27 (144A) ...... 172,000 182,557 6.875%, 09/01/27 ...... 807,000 862,102 6.250%, 02/15/29 (144A) ...... 962,000 951,466 5,046,910 7.000%, 01/15/28 (144A) ...... 282,000 290,460 7.250%, 05/30/29 (144A) ...... 1,387,000 1,417,389 Packaging & Containers—2.1% 9.000%, 12/15/25 (144A) ...... 483,000 517,921 ARD Finance S.A. Cheplapharm Arzneimittel GmbH 6.500%, 7.250% PIK, 06/30/27 (144A) (c) ...... 2,416,000 2,536,800 3.500%, 02/11/27 (EUR) ...... 100,000 119,747 Ardagh Metal Packaging Finance USA LLC 4.375%, 01/15/28 (EUR) ...... 100,000 123,170 4.000%, 09/01/29 (144A) ...... 2,914,000 2,889,450 5.500%, 01/15/28 (144A) ...... 588,000 602,700 Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. Elanco Animal Health, Inc. 4.125%, 08/15/26 (144A) ...... 685,000 707,262 5.900%, 08/28/28 ...... 20,000 23,405 Endo Dac / Endo Finance LLC / Endo Finco, Inc. 4.750%, 07/15/27 (144A) (GBP) ...... 151,000 212,638 5.250%, 08/15/27 (144A) ...... 1,972,000 2,011,440 9.500%, 07/31/27 (144A) (a) ...... 1,127,000 1,149,540 CANPACK S.A. / Eastern PA Land Investment Holding LLC Endo Luxembourg Finance Co. I S.a.r.l. 3.125%, 11/01/25 (144A) (a) ...... 249,000 253,357 6.125%, 04/01/29 (144A) ...... 1,228,000 1,203,440 Crown Americas LLC / Crown Americas Capital Corp. Jazz Securities DAC 4.750%, 02/01/26 ...... 71,000 73,677 4.375%, 01/15/29 (144A) (a) ...... 1,068,000 1,107,302

See accompanying notes to financial statements. BHFTI-129 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Pharmaceuticals—(Continued) Pipelines—(Continued) Nidda Healthcare Holding GmbH EQM Midstream Partners L.P. 3.500%, 09/30/24 (EUR) ...... 100,000 $ 118,250 4.125%, 12/01/26 ...... 103,000 $ 105,446 Organon & Co / Organon Foreign Debt Co-Issuer BV 4.500%, 01/15/29 (144A) ...... 522,000 531,071 2.875%, 04/30/28 (EUR) ...... 100,000 120,205 4.750%, 01/15/31 (144A) ...... 1,059,000 1,091,236 4.125%, 04/30/28 (144A) ...... 1,930,000 1,968,214 6.000%, 07/01/25 (144A) ...... 554,000 602,475 5.125%, 04/30/31 (144A) (a) ...... 1,887,000 1,943,987 6.500%, 07/01/27 (144A) ...... 783,000 873,045 P&L Development LLC / PLD Finance Corp. Genesis Energy L.P. / Genesis Energy Finance Corp. 7.750%, 11/15/25 (144A) ...... 589,000 618,450 5.625%, 06/15/24 ...... 129,000 129,323 Par Pharmaceutical, Inc. 6.500%, 10/01/25 ...... 111,000 112,110 7.500%, 04/01/27 (144A) ...... 2,341,000 2,393,275 7.750%, 02/01/28 (a) ...... 246,000 254,226 Prestige Brands, Inc. 8.000%, 01/15/27 ...... 467,000 490,642 3.750%, 04/01/31 (144A) ...... 738,000 711,524 Harvest Midstream I L.P. Rossini Sarl 7.500%, 09/01/28 (144A) ...... 298,000 323,628 6.750%, 10/30/25 (EUR) ...... 141,000 175,058 Hess Midstream Operations L.P. Teva Pharmaceutical Finance Netherlands B.V. 5.125%, 06/15/28 (144A) ...... 176,000 184,580 7.125%, 01/31/25 ...... 394,000 434,385 ITT Holdings LLC Teva Pharmaceutical Finance Netherlands II B.V. 6.500%, 08/01/29 (144A) ...... 917,000 934,194 6.000%, 01/31/25 (EUR) ...... 200,000 255,302 New Fortress Energy, Inc. 21,408,525 6.500%, 09/30/26 (144A) ...... 2,955,000 3,019,419 6.750%, 09/15/25 (144A) ...... 3,308,000 3,386,565 Pipelines—4.3% NGL Energy Operating LLC / NGL Energy Finance Corp. Antero Midstream Partners L.P. / Antero Midstream Finance Corp. 7.500%, 02/01/26 (144A) (a) ...... 891,000 935,550 5.375%, 06/15/29 (144A) ...... 546,000 569,205 NGPL PipeCo LLC 5.750%, 03/01/27 (144A) ...... 196,000 203,840 7.768%, 12/15/37 (144A) ...... 691,000 988,478 7.875%, 05/15/26 (144A) ...... 984,000 1,099,728 NuStar Logistics L.P. Buckeye Partners L.P. 5.750%, 10/01/25 ...... 302,000 328,425 4.125%, 03/01/25 (144A) ...... 67,000 69,429 6.000%, 06/01/26 ...... 239,000 259,315 5.600%, 10/15/44 ...... 415,000 402,550 6.375%, 10/01/30 ...... 53,000 58,560 5.850%, 11/15/43 ...... 318,000 315,615 Rubis Terminal Infra SAS Cheniere Energy Partners L.P. 5.625%, 05/15/25 (EUR) ...... 102,000 127,310 4.000%, 03/01/31 (144A) ...... 1,922,000 2,008,490 Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp. 4.500%, 10/01/29 ...... 1,031,000 1,108,325 6.000%, 12/31/30 (144A) ...... 338,000 351,392 Cheniere Energy, Inc. 7.500%, 10/01/25 (144A) ...... 294,000 321,930 4.625%, 10/15/28 (144A) (a) ...... 4,110,000 4,336,050 Targa Resources Partners L.P. / Targa Resources Partners Finance Corp. Crestwood Midstream Partners L.P. / Crestwood Midstream Finance 4.000%, 01/15/32 (144A) ...... 115,000 118,295 Corp. 4.875%, 02/01/31 (144A) ...... 287,000 310,677 5.625%, 05/01/27 (144A) ...... 218,000 223,722 5.375%, 02/01/27 ...... 22,000 22,908 DCP Midstream Operating L.P. 5.500%, 03/01/30 ...... 829,000 911,618 6.450%, 11/03/36 (144A) ...... 620,000 725,400 6.500%, 07/15/27 ...... 298,000 322,949 6.750%, 09/15/37 (144A) ...... 949,000 1,141,172 6.875%, 01/15/29 ...... 718,000 808,920 DT Midstream, Inc. Western Midstream Operating L.P. 4.125%, 06/15/29 (144A) ...... 1,149,000 1,166,614 4.750%, 08/15/28 ...... 84,000 90,720 4.375%, 06/15/31 (144A) ...... 1,512,000 1,544,946 5.300%, 03/01/48 ...... 994,000 1,058,610 Energy Transfer L.P. 5.450%, 04/01/44 ...... 826,000 890,015 6.500%, 5Y H15 + 5.694%, 11/15/26 (b) ...... 1,710,000 1,743,345 5.500%, 08/15/48 ...... 199,000 216,590 EnLink Midstream LLC 6.500%, 02/01/50 ...... 1,929,000 2,233,464 5.375%, 06/01/29 ...... 178,000 185,764 40,634,152 5.625%, 01/15/28 (144A) ...... 385,000 406,710 EnLink Midstream Partners L.P. Real Estate—0.6% 4.150%, 06/01/25 ...... 39,000 40,846 ADLER Group S.A. 4.400%, 04/01/24 ...... 429,000 450,450 2.750%, 11/13/26 (EUR) ...... 200,000 239,818 4.850%, 07/15/26 ...... 55,000 56,925 3.250%, 08/05/25 (EUR) ...... 200,000 244,653 5.050%, 04/01/45 ...... 67,000 57,620 Aroundtown S.A. 5.600%, 04/01/44 ...... 424,000 383,720 3.375%, 5Y EUR Swap + 3.980%, 09/23/24 (EUR) (b) ...... 100,000 123,170

See accompanying notes to financial statements. BHFTI-130 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate—(Continued) Real Estate Investment Trusts—(Continued) Canary Wharf Group Investment Holding plc MGM Growth Properties Operating Partnership L.P. / MGP Finance Co-Issuer, Inc. 1.750%, 04/07/26 (EUR) ...... 100,000 $ 119,366 3.875%, 02/15/29 (144A) ...... 674,000 $ 684,494 3.375%, 04/23/28 (GBP) ...... 100,000 139,541 4.500%, 09/01/26 ...... 803,000 857,203 Citycon Oyj 4.500%, 01/15/28 ...... 1,264,000 1,336,680 4.496%, 5Y EUR Swap + 4.711%, 11/24/24 (EUR) (b) ...... 100,000 123,296 4.625%, 06/15/25 (144A) ...... 768,000 820,508 Cushman and Wakefield U.S. Borrower LLC 5.625%, 05/01/24 ...... 170,000 184,102 6.750%, 05/15/28 (144A) ...... 726,000 782,962 5.750%, 02/01/27 ...... 405,000 450,611 Fastighets AB Balder MPT Operating Partnership L.P. / MPT Finance Corp. 2.873%, 5Y EUR Swap + 3.188%, 06/02/81 (EUR) (b) ...... 100,000 117,430 2.500%, 03/24/26 (GBP) ...... 100,000 140,899 Five Point Operating Co. L.P. / Five Point Capital Corp. 3.375%, 04/24/30 (GBP) ...... 100,000 142,893 7.875%, 11/15/25 (144A) ...... 200,000 211,240 3.500%, 03/15/31 ...... 2,643,000 2,669,404 Heimstaden Bostad AB 4.625%, 08/01/29 ...... 950,000 1,016,937 2.625%, 5Y EUR Swap + 3.149%, 02/01/27 (EUR) (b) ...... 100,000 117,063 5.000%, 10/15/27 ...... 99,000 104,949 3.000%, 5Y EUR Swap + 3.268%, 10/29/27 (EUR) (b) ...... 100,000 118,333 RHP Hotel Properties L.P. / RHP Finance Corp. 3.375%, 5Y EUR Swap + 3.914%, 01/15/26 (EUR) (b) ...... 100,000 122,602 4.500%, 02/15/29 (144A) ...... 566,000 566,464 Howard Hughes Corp. (The) 4.750%, 10/15/27 (a) ...... 1,029,000 1,056,834 4.125%, 02/01/29 (144A) ...... 477,000 477,010 RLJ Lodging Trust L.P. 4.375%, 02/01/31 (144A) ...... 522,000 520,110 3.750%, 07/01/26 (144A) ...... 361,000 364,610 5.375%, 08/01/28 (144A) ...... 141,000 149,690 SBA Communications Corp. Peach Property Finance GmbH 3.875%, 02/15/27 ...... 1,486,000 1,525,981 3.500%, 02/15/23 (EUR) ...... 100,000 121,684 Service Properties Trust Realogy Group LLC / Realogy Co-Issuer Corp. 4.350%, 10/01/24 ...... 89,000 89,623 5.750%, 01/15/29 (144A) ...... 687,000 718,183 4.500%, 06/15/23 ...... 90,000 92,250 7.625%, 06/15/25 (144A) ...... 279,000 302,631 5.500%, 12/15/27 ...... 281,000 299,892 Tropicana Entertainment LLC / Tropicana Finance Corp. 7.500%, 09/15/25 ...... 740,000 837,827 9.625%, 12/15/14 (d) (f) (g) ...... 70,000 0 Starwood Property Trust, Inc. Unique Pub Finance Co. plc (The) 5.500%, 11/01/23 (144A) ...... 68,000 71,230 6.464%, 03/30/32 (GBP) ...... 400,000 669,510 Uniti Group L.P. / Uniti Fiber Holdings, Inc. / CSL Capital LLC 5,418,292 7.875%, 02/15/25 (144A) ...... 27,000 28,924 Uniti Group L.P. / Uniti Group Finance, Inc. / CSL Capital LLC Real Estate Investment Trusts—2.9% 4.750%, 04/15/28 (144A) ...... 905,000 902,737 Apollo Commercial Real Estate Finance, Inc. 6.500%, 02/15/29 (144A) ...... 1,511,000 1,514,777 4.625%, 06/15/29 (144A) ...... 463,000 456,564 VICI Properties L.P. / VICI Note Co., Inc. Brookfield Property REIT, Inc. 3.500%, 02/15/25 (144A) ...... 211,000 215,165 5.750%, 05/15/26 (144A) ...... 364,000 382,655 3.750%, 02/15/27 (144A) ...... 920,000 935,750 CTR Partnership L.P. / Caretrust Capital Corp. 4.125%, 08/15/30 (144A) ...... 1,689,000 1,734,299 3.875%, 06/30/28 (144A) ...... 433,000 442,145 4.250%, 12/01/26 (144A) ...... 1,839,000 1,912,965 Diversified Healthcare Trust 4.625%, 12/01/29 (144A) ...... 847,000 899,937 9.750%, 06/15/25 ...... 474,000 524,955 XHR L.P. Global Net Lease, Inc. / Global Net Lease Operating Partnership 4.875%, 06/01/29 (144A) ...... 166,000 171,395 L.P. 27,810,863 3.750%, 12/15/27 (144A) ...... 461,000 456,273 GLP Capital L.P. / GLP Financing II, Inc. Retail—3.5% 4.000%, 01/15/31 ...... 213,000 229,503 1011778 BC ULC / New Red Finance, Inc. HAT Holdings I LLC / HAT Holdings II LLC 3.875%, 01/15/28 (144A) ...... 566,000 573,075 3.375%, 06/15/26 (144A) ...... 521,000 524,908 4.375%, 01/15/28 (144A) ...... 683,000 692,391 Iron Mountain UK plc 5.750%, 04/15/25 (144A) (a) ...... 296,000 313,393 3.875%, 11/15/25 (GBP) ...... 100,000 139,935 Ambience Merger Sub, Inc. Iron Mountain, Inc. 7.125%, 07/15/29 (144A) ...... 208,000 210,080 5.250%, 07/15/30 (144A) ...... 902,000 954,839 Asbury Automotive Group, Inc. 5.625%, 07/15/32 (144A) ...... 921,000 985,765 4.500%, 03/01/28 ...... 282,000 289,755 Ladder Capital Finance Holdings LLLP / Ladder Capital Finance 4.750%, 03/01/30 ...... 282,000 294,690 Corp ...... BCPE Ulysses Intermediate, Inc. 4.250%, 02/01/27 (144A) ...... 720,000 718,981 7.750%, 8.500% PIK, 04/01/27 (144A) (c) ...... 333,000 341,325 4.750%, 06/15/29 (144A) ...... 365,000 365,000

See accompanying notes to financial statements. BHFTI-131 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Retail—(Continued) Retail—(Continued) Beacon Roofing Supply, Inc. Staples, Inc. 4.125%, 05/15/29 (144A) (a) ...... 260,000 $ 259,336 7.500%, 04/15/26 (144A) ...... 1,683,000 $ 1,743,142 Carrols Restaurant Group, Inc. 10.750%, 04/15/27 (144A) ...... 517,000 525,608 5.875%, 07/01/29 (144A) ...... 266,000 262,343 Stonegate Pub Co. Financing plc Carvana Co. 8.250%, 07/31/25 (GBP) ...... 100,000 144,555 5.500%, 04/15/27 (144A) ...... 743,000 767,318 Suburban Propane Partners L.P./Suburban Energy Finance Corp. eG Global Finance plc 5.000%, 06/01/31 (144A) ...... 438,000 448,403 6.250%, 10/30/25 (EUR) ...... 180,000 218,557 Superior Plus L.P. / Superior General Partner, Inc. 6.750%, 02/07/25 (144A) ...... 958,000 990,538 4.500%, 03/15/29 (144A) ...... 122,000 125,662 8.500%, 10/30/25 (144A) ...... 525,000 555,188 Tendam Brands S.A.U. Foundation Building Materials, Inc. 5.250%, 3M EURIBOR + 5.250%, 09/15/24 (EUR) (b) ...... 100,000 117,074 6.000%, 03/01/29 (144A) ...... 479,000 474,210 Victoria’s Secret & Co. Gap, Inc. (The) 4.625%, 07/15/29 (144A) ...... 422,000 422,000 8.875%, 05/15/27 (144A) ...... 357,000 413,120 White Cap Buyer LLC Golden Nugget, Inc. 6.875%, 10/15/28 (144A) (a) ...... 2,053,000 2,197,223 6.750%, 10/15/24 (144A) (a) ...... 2,381,000 2,405,334 White Cap Parent LLC Goldstory SASU 8.250%, PIK, 03/15/26 (144A) (c) ...... 517,000 534,919 5.375%, 03/01/26 (EUR) ...... 100,000 121,243 Yum! Brands, Inc. Group 1 Automotive, Inc. 4.750%, 01/15/30 (144A) ...... 45,000 48,713 4.000%, 08/15/28 (144A) ...... 90,000 91,575 5.350%, 11/01/43 ...... 14,000 14,875 GYP Holdings III Corp. 32,653,626 4.625%, 05/01/29 (144A) ...... 609,000 611,284 IRB Holding Corp. Semiconductors—0.3% 7.000%, 06/15/25 (144A) ...... 315,000 340,206 AMS AG Ken Garff Automotive LLC 6.000%, 07/31/25 (EUR) ...... 100,000 126,935 4.875%, 09/15/28 (144A) ...... 286,000 291,720 Entegris, Inc. L Brands, Inc. 3.625%, 05/01/29 (144A) ...... 251,000 254,137 6.625%, 10/01/30 (144A) ...... 307,000 355,353 4.375%, 04/15/28 (144A) ...... 325,000 339,219 6.750%, 07/01/36 ...... 153,000 191,633 Infineon Technologies AG 6.875%, 11/01/35 ...... 922,000 1,167,483 2.875%, 5Y EUR Swap + 3.388%, 01/01/25 (EUR) (b) ...... 100,000 124,504 LBM Acquisition LLC Microchip Technology, Inc. 6.250%, 01/15/29 (144A) ...... 1,186,000 1,195,132 4.250%, 09/01/25 ...... 765,000 803,147 LCM Investments Holdings II LLC ON Semiconductor Corp. 4.875%, 05/01/29 (144A) ...... 571,000 585,275 3.875%, 09/01/28 (144A) ...... 703,000 724,188 Lithia Motors, Inc. Synaptics, Inc. 3.875%, 06/01/29 (144A) ...... 345,000 357,610 4.000%, 06/15/29 (144A) (a) ...... 488,000 490,440 Macy’s, Inc. 8.375%, 06/15/25 (144A) † ...... 1,221,000 1,344,565 2,862,570 Marks & Spencer plc 4.500%, 07/10/27 (GBP) ...... 100,000 147,970 Software—3.3% Murphy Oil USA, Inc. ACI Worldwide, Inc. 4.750%, 09/15/29 ...... 302,000 317,764 5.750%, 08/15/26 (144A) ...... 954,000 1,000,507 NMG Holding Co., Inc. / Neiman Marcus Group LLC Ascend Learning LLC 7.125%, 04/01/26 (144A) ...... 1,015,000 1,083,513 6.875%, 08/01/25 (144A) ...... 1,449,000 1,472,792 Penske Automotive Group, Inc. Black Knight InfoServ LLC 3.500%, 09/01/25 ...... 431,000 446,430 3.625%, 09/01/28 (144A) ...... 815,000 810,892 3.750%, 06/15/29 ...... 181,000 182,130 Boxer Parent Co., Inc. PetSmart, Inc. / PetSmart Finance Corp. 6.500%, 10/02/25 (EUR) ...... 200,000 251,552 4.750%, 02/15/28 (144A) ...... 1,262,000 1,310,902 7.125%, 10/02/25 (144A) ...... 689,000 737,230 7.750%, 02/15/29 (144A) ...... 3,496,000 3,854,340 9.125%, 03/01/26 (144A) ...... 1,771,000 1,869,326 Specialty Building Products Holdings LLC / SBP Finance Corp. BY Crown Parent LLC 6.375%, 09/30/26 (144A) ...... 1,104,000 1,156,125 7.375%, 10/15/24 (144A) ...... 1,281,000 1,304,058 SRS Distribution, Inc. BY Crown Parent LLC / BY Bond Finance, Inc. 4.625%, 07/01/28 (144A) ...... 1,149,000 1,174,852 4.250%, 01/31/26 (144A) ...... 1,251,000 1,310,422 6.125%, 07/01/29 (144A) ...... 917,000 943,694 Camelot Finance S.A. 4.500%, 11/01/26 (144A) ...... 170,000 177,863

See accompanying notes to financial statements. BHFTI-132 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Software—(Continued) Telecommunications—(Continued) Castle U.S. Holding Corp. Altice France S.A. 9.500%, 02/15/28 (144A) ...... 686,000 $ 715,155 5.125%, 01/15/29 (144A) ...... 331,000 $ 332,655 Cedacri Mergeco S.p.A. 5.125%, 07/15/29 (144A) ...... 3,251,000 3,266,930 4.625%, 3M EURIBOR + 4.625%, 05/15/28 (EUR) (b) ...... 100,000 120,057 5.500%, 01/15/28 (144A) ...... 364,000 377,723 Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. 5.875%, 02/01/27 (EUR) ...... 200,000 251,330 5.750%, 03/01/25 (144A) ...... 2,151,000 2,185,954 7.375%, 05/01/26 (144A) ...... 434,000 451,330 Clarivate Science Holdings Corp. 8.125%, 02/01/27 (144A) ...... 2,130,000 2,320,635 3.875%, 06/30/28 (144A) ...... 999,000 1,008,101 Avaya, Inc. 4.875%, 06/30/29 (144A) ...... 1,375,000 1,411,094 6.125%, 09/15/28 (144A) ...... 2,628,000 2,812,748 Dun & Bradstreet Corp. (The) Cincinnati Bell, Inc. 6.875%, 08/15/26 (144A) ...... 798,000 845,880 7.000%, 07/15/24 (144A) ...... 1,046,000 1,073,457 10.250%, 02/15/27 (144A) ...... 557,000 615,056 8.000%, 10/15/25 (144A) ...... 104,000 109,330 Elastic NV CommScope Technologies LLC 4.125%, 07/15/29 (144A) ...... 802,000 807,013 5.000%, 03/15/27 (144A) ...... 1,002,000 1,025,797 Fair Isaac Corp. 6.000%, 06/15/25 (144A) ...... 794,000 810,873 4.000%, 06/15/28 (144A) ...... 187,000 193,295 CommScope, Inc. Helios Software Holdings, Inc. / ION Corporate Solutions Finance 6.000%, 03/01/26 (144A) ...... 494,000 521,516 Sarl 7.125%, 07/01/28 (144A) ...... 476,000 515,865 4.625%, 05/01/28 (144A) ...... 558,000 546,182 8.250%, 03/01/27 (144A) (a) ...... 91,000 97,261 MicroStrategy, Inc. Connect Finco S.a.r.l. / Connect U.S. Finco LLC 6.125%, 06/15/28 (144A) (a) ...... 852,000 852,000 6.750%, 10/01/26 (144A) ...... 5,706,000 6,034,095 MSCI, Inc. Consolidated Communications, Inc. 3.625%, 09/01/30 (144A) ...... 383,000 391,679 6.500%, 10/01/28 (144A) ...... 1,812,000 1,949,259 3.625%, 11/01/31 (144A) ...... 509,000 522,081 Frontier Communications Holdings LLC 3.875%, 02/15/31 (144A) ...... 360,000 373,594 5.000%, 05/01/28 (144A) ...... 1,877,000 1,940,499 4.000%, 11/15/29 (144A) ...... 68,000 71,740 5.875%, 10/15/27 (144A) ...... 1,081,000 1,158,021 Nuance Communications, Inc. 6.750%, 05/01/29 (144A) (a) ...... 1,223,000 1,300,379 5.625%, 12/15/26 ...... 234,000 243,779 Hughes Satellite Systems Corp. Open Text Holdings, Inc. 5.250%, 08/01/26 ...... 61,000 68,331 4.125%, 02/15/30 (144A) ...... 344,000 350,811 Intelsat Jackson Holdings S.A. Playtika Holding Corp. 8.000%, 02/15/24 † (144A) ...... 142,000 146,653 4.250%, 03/15/29 (144A) (a) ...... 1,064,000 1,063,266 Koninklijke KPN NV PTC, Inc. 2.000%, 5Y EUR Swap + 2.344%, 11/08/24 (EUR) (b) ...... 200,000 240,428 4.000%, 02/15/28 (144A) ...... 228,000 235,524 Level 3 Financing, Inc. Rackspace Technology Global, Inc. 3.750%, 07/15/29 (144A) ...... 999,000 971,527 5.375%, 12/01/28 (144A) (a) ...... 1,715,000 1,757,875 4.250%, 07/01/28 (144A) ...... 992,000 1,006,642 Rocket Software, Inc. Ligado Networks LLC 6.500%, 02/15/29 (144A) ...... 1,018,000 1,010,141 15.500%, PIK,11/01/23 (144A) (a) (c) ...... 1,429,008 1,409,902 SS&C Technologies, Inc. Lorca Telecom Bondco S.A. 5.500%, 09/30/27 (144A) ...... 2,769,000 2,934,309 4.000%, 09/18/27 (EUR) ...... 200,000 241,300 Twilio, Inc. Lumen Technologies, Inc. 3.875%, 03/15/31 ...... 513,000 526,466 4.500%, 01/15/29 (144A) ...... 1,593,000 1,554,688 Veritas U.S. Inc. / Veritas Bermuda, Ltd. 5.125%, 12/15/26 (144A) (a) ...... 2,211,000 2,296,676 7.500%, 09/01/25 (144A) ...... 2,454,000 2,555,227 5.375%, 06/15/29 (144A) ...... 1,647,000 1,670,692 ZoomInfo Technologies LLC 6.750%, 12/01/23 ...... 183,000 202,943 3.875%, 02/01/29 (144A) ...... 892,000 886,425 7.500%, 04/01/24 ...... 544,000 610,640 31,157,346 7.600%, 09/15/39 (a) ...... 341,000 387,888 7.650%, 03/15/42 ...... 970,000 1,088,825 Telecommunications—8.1% Matterhorn Telecom S.A. Altice France Holding S.A. 4.000%, 11/15/27 (EUR) ...... 100,000 121,683 6.000%, 02/15/28 (144A) (a) ...... 1,062,000 1,057,540 Nokia Oyj 10.500%, 05/15/27 (144A) ...... 4,307,000 4,786,154 6.625%, 05/15/39 ...... 397,000 514,115 Altice France S.A. Oi S.A. 2.500%, 01/15/25 (EUR) ...... 100,000 116,777 10.000%, PIK, 07/27/25 (c) ...... 23,000 23,690 4.125%, 01/15/29 (EUR) ...... 100,000 118,723

See accompanying notes to financial statements. BHFTI-133 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Telecommunications—(Continued) Telecommunications—(Continued) QualityTech L.P. / QTS Finance Corp. Vodafone Group plc 3.875%, 10/01/28 (144A) (a) ...... 462,000 $ 494,063 3.000%, 5Y EUR Swap + 3.227%, 08/27/80 (EUR) (b) ...... 100,000 $ 121,840 Sable International Finance, Ltd. 3.100%, 5Y EUR Swap + 2.669%, 01/03/79 (EUR) (b) ...... 200,000 246,932 5.750%, 09/07/27 (144A) (a) ...... 300,000 315,660 Zayo Group Holdings, Inc. SES S.A. 4.000%, 03/01/27 (144A) ...... 3,465,000 3,441,161 2.875%, 5Y EUR Swap + 3.190%, 05/27/26 (EUR) (b) ...... 100,000 119,417 6.125%, 03/01/28 (144A) ...... 3,552,000 3,627,480 SoftBank Group Corp. 76,134,880 2.125%, 07/06/24 (EUR) ...... 100,000 118,575 2.875%, 01/06/27 (EUR) ...... 100,000 118,575 Toys/Games/Hobbies—0.2% 3.375%, 07/06/29 (EUR) ...... 100,000 118,575 Mattel, Inc. 4.500%, 04/20/25 (EUR) ...... 200,000 256,974 3.750%, 04/01/29 (144A) ...... 260,000 270,400 4.750%, 07/30/25 (EUR) ...... 100,000 130,433 5.450%, 11/01/41 ...... 364,000 419,510 5.000%, 04/15/28 (EUR) ...... 100,000 132,643 5.875%, 12/15/27 (144A) ...... 213,000 232,170 Sprint Capital Corp. 6.200%, 10/01/40 ...... 371,000 457,258 6.875%, 11/15/28 ...... 2,597,000 3,330,652 6.750%, 12/31/25 (144A) ...... 206,000 216,444 8.750%, 03/15/32 ...... 2,556,000 3,885,120 Sprint Corp. 1,595,782 7.125%, 06/15/24 ...... 120,000 138,450 7.625%, 03/01/26 ...... 1,206,000 1,471,320 Transportation—0.1% 7.875%, 09/15/23 ...... 235,000 266,978 CMA CGM S.A. Switch, Ltd. 7.500%, 01/15/26 (EUR) ...... 100,000 131,853 3.750%, 09/15/28 (144A) ...... 819,000 829,237 Danaos Corp. 4.125%, 06/15/29 (144A) (a) ...... 592,000 607,540 8.500%, 03/01/28 (144A) ...... 363,000 398,055 T-Mobile USA, Inc. Getlink SE 2.625%, 02/15/29 ...... 201,000 198,488 3.500%, 10/30/25 (EUR) ...... 100,000 123,022 2.875%, 02/15/31 ...... 1,191,000 1,182,067 Poste Italiane S.p.A. 3.500%, 04/15/31 ...... 949,000 981,788 2.625%, 5Y EURIBOR Swap + 2.677%, 03/24/29 (EUR) (b) . . 150,000 177,685 3.500%, 04/15/31 (144A) ...... 953,000 985,926 4.750%, 02/01/28 ...... 242,000 259,243 830,615 Telecom Italia Capital S.A. 6.000%, 09/30/34 ...... 1,052,000 1,213,745 Trucking & Leasing—0.1% 6.375%, 11/15/33 ...... 539,000 642,758 Fortress Transportation and Infrastructure Investors LLC 7.200%, 07/18/36 ...... 214,000 276,060 5.500%, 05/01/28 (144A) ...... 801,000 834,041 7.721%, 06/04/38 ...... 204,000 278,107 6.500%, 10/01/25 (144A) ...... 165,000 171,394 Telecom Italia Finance S.A. 9.750%, 08/01/27 (144A) ...... 107,000 123,719 7.750%, 01/24/33 (EUR) ...... 42,000 72,939 1,129,154 Telecom Italia S.p.A. 1.625%, 01/18/29 (EUR) ...... 155,000 180,631 Water—0.1% 4.000%, 04/11/24 (EUR) ...... 100,000 127,909 Solaris Midstream Holding LLC 5.303%, 05/30/24 (144A) ...... 271,000 296,664 7.625%, 04/01/26 (144A) (a) ...... 272,000 288,320 Telefonica Europe B.V. Thames Water Kemble Finance plc 4.375%, 6Y EUR Swap + 4.107%, 12/14/24 (EUR) (b) ...... 200,000 257,263 4.625%, 05/19/26 (GBP) ...... 168,000 237,784 5.875%, 10Y EUR Swap + 4.301%, 03/31/24 (EUR) (b) ..... 100,000 131,915 526,104 Telesat Canada / Telesat LLC 4.875%, 06/01/27 (144A) ...... 519,000 500,835 Total Corporate Bonds & Notes ViaSat, Inc. (Cost $779,960,256) ...... 814,201,264 5.625%, 04/15/27 (144A) ...... 376,000 392,480 6.500%, 07/15/28 (144A) (a) ...... 1,470,000 1,567,696 Vmed O2 UK Financing I plc Floating Rate Loans (h)—9.8% 4.000%, 01/31/29 (GBP) ...... 100,000 136,682 4.250%, 01/31/31 (144A) ...... 213,000 209,265 Advertising—0.2% 4.500%, 07/15/31 (GBP) ...... 134,000 186,074 Clear Channel Outdoor Holdings, Inc. 4.750%, 07/15/31 (144A) ...... 1,280,000 1,299,200 Term Loan B, 3.686%, 3M LIBOR + 3.500%, 08/21/26 ..... 1,679,958 1,642,421

See accompanying notes to financial statements. BHFTI-134 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Aerospace/Defense—0.1% Commercial Services—(Continued) Sequa Mezzanine Holdings LLC Icon Luxembourg Sarl Extended Term Loan, 7.750%, 3M LIBOR + 1st Lien Term Loan B, 06/16/28 (i) ...... 261,385 $ 262,202 6.750%, 11/28/23 ...... 388,300 $ 391,536 Term Loan, 06/16/28 (i) ...... 1,048,656 1,051,933 Spirit Aerosystems, Inc. Parexel International Corp. Term Loan B, 6.000%, 1M LIBOR + 5.250%, 01/15/25 ..... 433,820 437,887 Term Loan B, 2.845%, 1M LIBOR + 2.750%, 09/27/24 ..... 762,318 758,744 829,423 Sabre GLBL, Inc. Term Loan B, 4.750%, 1M LIBOR + 4.000%, 12/17/27 ..... 209,945 211,716 Airlines—0.5% Sotheby’s AAdvantage Loyalty, IP Ltd. Term Loan B, 5.500%, 3M LIBOR + 4.750%, 01/15/27 ..... 283,899 286,146 Term Loan, 5.500%, 3M LIBOR + 4.750%, 04/20/28 ...... 1,571,284 1,640,028 TruGreen L.P. JetBlue Airways Corp. 2nd Lien Term Loan, 9.500%, 3M LIBOR + Term Loan, 6.250%, 3M LIBOR + 5.250%, 06/17/24 ...... 1,563 1,597 8.500%, 11/02/28 ...... 378,000 387,450 Mileage Plus Holdings LLC Verscend Holding Corp. Term Loan B, 5.385%, 3M LIBOR + 5.250%, 06/21/27 ..... 402,000 429,669 2nd Lien Term Loan, 7.500%, 1M LIBOR + SkyMiles IP, Ltd. 7.000%, 02/01/29 ...... 1,564,000 1,587,460 Term Loan B, 4.750%, 3M LIBOR + 3.750%, 10/20/27 ..... 696,000 735,933 Term Loan B, 4.104%, 1M LIBOR + 4.000%, 08/27/25 ..... 2,576,534 2,587,270 United Airlines, Inc. 7,812,126 Term Loan B, 4.500%, 3M LIBOR + 3.750%, 04/21/28 ..... 1,684,000 1,708,057 4,515,284 Computers—0.6% Flexential Intermediate Corp. Auto Parts & Equipment—0.1% 2nd Lien Term Loan, 7.379%, 3M LIBOR + Clarios Global L.P. 7.250%, 08/01/25 ...... 148,000 134,643 USD Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/30/26 . . 546,878 543,005 Magenta Buyer LLC USD 1st Lien Term Loan, 05/03/28 (i) ...... 1,459,000 1,460,563 Building Materials—0.1% USD 2nd Lien Term Loan, 05/03/29 (i) ...... 925,000 918,062 CP Atlas Buyer, Inc. Peraton Holding Corp. Term Loan B, 4.250%, 1M LIBOR + 3.750%, 11/23/27 ..... 223,440 223,161 2nd Lien Term Loan B1, 8.500%, 1M LIBOR + CPG International, Inc. 7.750%, 02/01/29 ...... 730,000 748,250 Term Loan, 3.250%, 3M LIBOR + 2.500%, 05/05/24 ...... 233,724 233,765 Term Loan B, 4.500%, 1M LIBOR + 3.750%, 02/01/28 ..... 2,069,168 2,079,029 Forterra Finance, LLC Tempo Acquisition LLC Term Loan B, 4.000%, 1M LIBOR + 3.000%, 10/25/23 ..... 202,830 203,122 Extended Term Loan, 3.750%, 1M LIBOR + 3.250%, 11/02/26 ...... 68,812 68,976 660,048 TierPoint, LLC 2021 Term Loan, 4.500%, 1M LIBOR + 3.750%, 05/05/26 . . . 315,325 315,752 Chemicals—0.4% Ascend Performance Materials Operations LLC 5,725,275 2021 Term Loan B, 5.500%, 3M LIBOR + 4.750%, 08/27/26 . . . 892,167 906,246 Atotech B.V. Distribution/Wholesale—0.0% USD Term Loan B, 3.000%, 3M LIBOR + 2.500%, 03/18/28 . . 1,171,000 1,166,426 Dealer Tire, LLC Diamond (BC) B.V. Term Loan B, 4.354%, 1M LIBOR + 4.250%, 12/12/25 ..... 165,900 166,252 Term Loan, 3.186%, 3M LIBOR + 3.000%, 09/06/24 ...... 1,106,740 1,102,158 KAR Auction Services, Inc. Illuminate Buyer LLC Term Loan B6, 2.375%, 1M LIBOR + 2.250%, 09/19/26 .... 119,793 118,745 Term Loan, 3.604%, 1M LIBOR + 3.500%, 06/30/27 ...... 627,849 624,840 284,997 Invictus U.S. LLC 2nd Lien Term Loan, 6.854%, 1M LIBOR + Diversified Financial Services—0.1% 6.750%, 03/30/26 ...... 103,713 104,070 AqGen Ascensus, Inc. 3,903,740 2nd Lien Term Loan, 05/04/29 (i) ...... 352,000 350,240 Deerfield Dakota Holding LLC Commercial Services—0.8% USD 2nd Lien Term Loan, 7.500%, 1M LIBOR + Amentum Government Services Holdings LLC 6.750%, 04/07/28 ...... 558,000 573,345 Term Loan B, 3.604%, 1M LIBOR + 3.500%, 01/29/27 ..... 142,560 142,382 Jefferies Finance LLC AVSC Holding Corp. Term Loan, 3.125%, 1M LIBOR + 3.000%, 06/03/26 ...... 245,562 244,794 2nd Lien Term Loan, 8.250%, 6M LIBOR + 1,168,379 7.250%, 09/01/25 ...... 658,678 536,823

See accompanying notes to financial statements. BHFTI-135 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—0.0% Insurance—(Continued) Calpine Corp. Sedgwick Claims Management Services, Inc. Term Loan B10, 2.104%, 1M LIBOR + 2.000%, 08/12/26 .... 35,868 $ 35,460 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 12/31/25 ..... 766,131 $ 758,852 Term Loan B, 3.845%, 1M LIBOR + 3.750%, 09/03/26 ..... 505,680 505,680 Engineering & Construction—0.4% Term Loan B3, 5.250%, 1M LIBOR + 4.250%, 09/03/26 .... 182,500 183,260 Brand Energy & Infrastructure Services, Inc. 2,395,701 Term Loan, 5.250%, 3M LIBOR + 4.250%, 06/21/24 ...... 3,860,500 3,802,593 Internet—0.2% Entertainment—0.0% Barracuda Networks, Inc. Great Canadian Gaming Corp. 2nd LienTerm Loan, 7.500%, 3M LIBOR + Term Loan, 11/01/26 (i) ...... 147,000 147,391 6.750%, 10/30/28 ...... 431,683 441,036 CNT Holdings I Corp. Environmental Control—0.0% Term Loan, 4.500%, 3M LIBOR + 3.750%, 11/08/27 ...... 538,000 539,051 GFL Environmental, Inc. I-Logic Technologies Bidco Ltd. Term Loan, 3.500%, 1M LIBOR + 3.000%, 05/30/25 ...... 203,149 203,555 2021 USD Term Loan B, 4.500%, 3M LIBOR + 4.000%, 02/16/28 ...... 242,396 243,521 MH Sub I, LLC Food—0.1% 2021 2nd Lien Term Loan, 6.345%, 1M LIBOR + Celestial-Saturn Parent, Inc. 6.250%, 02/12/29 ...... 129,000 131,553 2nd Lien Term Loan, 7.000%, 1M LIBOR + Northwest Fiber, LLC 6.500%, 04/13/29 ...... 669,000 674,854 2021 Term Loan, 3.823%, 1M LIBOR + 3.750%, 04/30/27 . . . 430,181 430,827 PUG LLC Healthcare-Products—0.2% Term Loan, 3.604%, 1M LIBOR + 3.500%, 02/12/27 ...... 379,163 371,580 Ortho-Clinical Diagnostics S.A. 2,157,568 Term Loan B, 3.089%, 1M LIBOR + 3.000%, 06/30/25 ..... 176,323 176,371 Term Loan B, 3.500%, 3M EURIBOR + 3.500%, 06/30/25 Leisure Time—0.1% (EUR) ...... 990,000 1,177,121 Life Time Fitness, Inc. Sotera Health Holdings LLC 2021 Term Loan B, 5.750%, 3M LIBOR + 4.750%, 12/16/24 . . . 605,296 607,944 Term Loan, 3.250%, 3M LIBOR + 2.750%, 12/11/26 ...... 849,000 847,142 2,200,634 Lodging—0.1% Caesars Resort Collection LLC Healthcare-Services—0.3% Term Loan B1, 4.604%, 1M LIBOR + 4.500%, 07/21/25 .... 333,700 335,217 AHP Health Partners, Inc. Golden Nugget, Inc. 2021 Term Loan, 4.750%, 1M LIBOR + 3.750%, 06/30/25 . . . 315,098 316,398 Incremental Term Loan B, 3.250%, 2M LIBOR + Da Vinci Purchaser Corp. 2.500%, 10/04/23 ...... 868,890 863,323 Initial Term Loan, 13.000%, 3M LIBOR + Term Loan, 5.000%, 3M LIBOR + 4.000%, 01/08/27 ...... 399,978 401,727 12.000%, 10/04/23 ...... 122,507 136,595 Envision Healthcare Corp. 1st Lien Term Loan, 3.854%, 1M LIBOR + 3.750%, 10/10/25 . 1,409,824 1,210,687 1,335,135 Gentiva Health Services, Inc. Term Loan, 2.875%, 1M LIBOR + 2.750%, 07/02/25 ...... 300,058 299,777 Machinery-Diversified—0.2% Quorum Health Corp. Titan Acquisition, Ltd. Term Loan, 9.250%, 3M LIBOR + 8.250%, 04/29/25 ...... 602,914 614,219 Term Loan B, 3.167%, 3M LIBOR + 3.000%, 03/28/25 ..... 1,983,564 1,952,075 RegionalCare Hospital Partners Holdings, Inc. Term Loan B, 3.854%, 1M LIBOR + 3.750%, 11/16/25 ..... 251,646 251,460 Media—0.2% A-L Parent LLC 3,094,268 1st Lien Term Loan, 4.250%, 1M LIBOR + 3.250%, 12/01/23 . . . 160,038 155,157 Altice Financing S.A. Insurance—0.3% USDTermLoanB,2.934%,3MLIBOR+2.750%,07/15/25.... 80,489 79,275 Alliant Holdings Intermediate, LLC MSG National Properties LLC Term Loan B3, 10/08/27 (i) ...... 360,242 361,284 Term Loan, 7.000%, 3M LIBOR + 6.250%, 11/12/25 ...... 911,715 943,625 Asurion LLC Radiate Holdco LLC Term Loan B8, 3.354%, 1M LIBOR + 3.250%, 12/23/26 .... 161,750 160,094 Term Loan, 4.250%, 1M LIBOR + 3.500%, 09/25/26 ...... 80,270 80,410 Ryan Specialty Group LLC 1,258,467 Term Loan, 3.750%, 1M LIBOR + 3.000%, 09/01/27 ...... 425,785 426,531 Miscellaneous Manufacturing—0.0% Momentive Performance Materials, Inc. Term Loan B, 3.360%, 1M LIBOR + 3.250%, 05/15/24 ..... 174,161 173,326

See accompanying notes to financial statements. BHFTI-136 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—0.5% Software—(Continued) Ascent Resources Utica Holdings LLC By Crown Parent LLC Fixed 2nd Lien Term Loan, 10.000%, 3M LIBOR + Term Loan B1, 4.000%, 1M LIBOR + 3.000%, 02/02/26 .... 113,581 $ 113,722 9.000%, 11/01/25 ...... 3,814,161 $ 4,228,157 Camelot U.S. Acquisition 1 Co. Incremental Term Loan B, 4.000%, 1M LIBOR + Oil & Gas Services—0.0% 3.000%, 10/30/26 ...... 275,615 276,097 Lealand Finance Company B.V. Castle U.S. Holding Corp. Make Whole Term Loan, 3.096%, 1M LIBOR + Term Loan B, 3.897%, 3M LIBOR + 3.750%, 01/29/27 ..... 461,146 456,419 3.000%, 06/30/24 ...... 31,220 20,293 CCC Information Services, Inc. 1st Lien Term Loan, 4.000%, 1M LIBOR + 3.000%, 04/29/24 . . . 100,072 100,179 Packaging & Containers—0.1% Dun & Bradstreet Corp. (The) BWAY Holding Co. Term Loan, 3.345%, 1M LIBOR + 3.250%, 02/06/26 ...... 968,182 964,400 Term Loan B, 3.354%, 1M LIBOR + 3.250%, 04/03/24 ..... 636,616 622,463 Emerald TopCo., Inc. Charter NEX U.S., Inc. Term Loan, 3.686%, 1M LIBOR + 3.500%, 07/24/26 ...... 354,580 353,140 Term Loan, 12/01/27 (i) ...... 176,192 176,825 Epicor Software Corp. Klockner-Pentaplast of America, Inc. 2nd Lien Term Loan, 8.750%, 1M LIBOR + Term Loan B, 5.250%, 3M LIBOR + 4.750%, 02/12/26 ..... 245,385 247,226 7.750%, 07/31/28 ...... 210,000 217,809 1,046,514 Term Loan, 4.000%, 1M LIBOR + 3.250%, 07/30/27 ...... 579,344 579,212 Grab Holdings, Inc. Pharmaceuticals—0.3% Term Loan B, 5.500%, 6M LIBOR + 4.500%, 01/29/26 ..... 396,008 403,928 Endo Luxembourg Finance Co. I S.a.r.l. Greeneden U.S., Holdings II LLC Term Loan, 5.750%, 3M LIBOR + 5.000%, 03/27/28 ...... 1,091,253 1,064,996 USD Term Loan B4, 4.750%, 1M LIBOR + 4.000%, 12/01/27 . . . 618,867 621,077 Gainwell Acquisition Corp. Helios Software Holdings, Inc. Term Loan B, 4.750%, 3M LIBOR + 4.000%, 10/01/27 ..... 1,832,348 1,840,364 2021 USD Term Loan B, 3.917%, 6M LIBOR + 3.750%, 03/11/28 ...... 302,429 303,090 2,905,360 Informatica LLC 2nd Lien Term Loan, 02/25/25 ...... 956,000 979,900 Retail—0.5% Term Loan B, 3.354%, 1M LIBOR + 3.250%, 02/25/27 ..... 443,388 441,386 Eyemart Express LLC Mitchell International, Inc. 2nd Lien Term Loan, 08/04/25 (f) (g) (i) ...... 210,600 209,547 1st Lien Term Loan, 3.354%, 1M LIBOR + 3.250%, 11/29/24 . . . 322,815 320,293 Foundation Building Materials Holding Co. LLC 2nd Lien Term Loan, 7.354%, 1M LIBOR + Term Loan, 3.750%, 3M LIBOR + 3.250%, 02/03/28 ...... 254,316 252,909 7.250%, 12/01/25 ...... 214,667 214,935 IRB Holding Corp. Planview Parent, Inc. Incremental Term Loan, 4.250%, 3M LIBOR + 2nd Lien Term Loan, 8.000%, 1W LIBOR + 3.250%, 12/15/27 ...... 880,793 881,251 7.250%, 12/17/28 ...... 370,000 371,850 LBM Acquisition LLC Polaris Newco LLC Delayed Draw Term Loan, 0.500%, 12/17/27 (j) ...... 20,862 20,764 USD Term Loan B, 4.500%, 6M LIBOR + 4.000%, 06/02/28 . . 998,000 1,001,969 Term Loan B, 4.500%, 3M LIBOR + 3.750%, 12/17/27 ..... 93,878 93,438 Project Alpha Intermediate Holding, Inc. PetSmart, Inc. 2021 Term Loan B, 4.110%, 1M LIBOR + 4.000%, 04/26/24 . . . 448,745 449,914 Term Loan B, 4.500%, 3M LIBOR + 3.750%, 02/12/28 ..... 1,477,000 1,479,769 Proofpoint, Inc. Staples, Inc. 1st Lien Term Loan, 06/09/28 (i) ...... 643,000 640,287 Term Loan, 5.176%, 3M LIBOR + 5.000%, 04/16/26 ...... 374,046 365,513 2nd Lien Term Loan, 06/08/29 (i) ...... 939,000 951,911 White Cap Buyer LLC Realpage, Inc. Term Loan B, 4.500%, 3M LIBOR + 4.000%, 10/19/27 ..... 1,233,800 1,237,077 1st Lien Term Loan, 3.750%, 1M LIBOR + 3.250%, 04/24/28 . . . 828,000 826,655 4,540,268 2nd Lien Term Loan, 7.250%, 1M LIBOR + 6.500%, 04/22/29 ...... 1,295,154 1,340,484 Shipbuilding—0.1% Renaissance Holding Corp. MHI Holdings LLC 1st Lien Term Loan, 3.343%, 1M LIBOR + 3.250%, 05/30/25 . . . 12,402 12,291 Term Loan B, 5.095%, 1M LIBOR + 5.000%, 09/21/26 ..... 953,244 958,010 Severin Acquisition LLC Term Loan B, 3.332%, 1M LIBOR + 3.250%, 08/01/25 ..... 203,320 202,558 Software—2.1% Sophia L.P. Ascend Learning LLC 1st Lien Term Loan, 4.500%, 3M LIBOR + 3.750%, 10/07/27 . . . 1,428,820 1,431,796 Term Loan B, 4.000%, 1M LIBOR + 3.000%, 07/12/24 ..... 198,009 198,102 2nd Lien Term Loan, 9.000%, 3M LIBOR + Athenahealth, Inc. 8.000%, 10/09/28 ...... 1,828,000 1,891,980 Term Loan B1, 4.410%, 3M LIBOR + 4.250%, 02/11/26 .... 303,240 305,230 Tibco Software, Inc. Banff Merger Sub, Inc 2nd Lien Term Loan, 7.360%, 1M LIBOR + USD Term Loan, 3.854%, 1M LIBOR + 3.750%, 10/02/25 . . . 610,691 607,828 7.250%, 03/03/28 ...... 637,000 647,617

See accompanying notes to financial statements. BHFTI-137 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Floating Rate Loans (h)—(Continued)

Shares/ Principal Security Description Amount* Value Security Description Shares Value

Software—(Continued) Electrical Equipment—0.1% Ultimate Software Group, Inc. (The) Sensata Technologies Holding plc (k) ...... 12,419 $ 719,930 Incremental Term Loan, 4.000%, 3M LIBOR + 3.250%, 05/04/26 ...... 417,848 $ 418,631 Energy Equipment & Services—0.0% Term Loan B, 3.854%, 1M LIBOR + 3.750%, 05/04/26 ..... 233,228 233,633 Pioneer Energy Services Corp. † (f) (g) (k) ...... 1,763 26,092 Veritas U.S., Inc. USD Term Loan B, 6.000%, 3M LIBOR + 5.000%, 09/01/25 . . 2,088,859 2,107,659 Entertainment—0.0% 19,985,982 Live Nation Entertainment, Inc. (k) ...... 5,384 471,585

Telecommunications—1.2% Equity Real Estate Investment Trusts—0.4% Altice France S.A. Gaming and Leisure Properties, Inc...... 30,586 1,417,049 Term Loan B13, 4.155%, 3M LIBOR + 4.000%, 08/14/26 .... 365,125 365,049 VICI Properties, Inc. (a) ...... 69,351 2,151,268 Connect Finco Sarl 3,568,317 Term Loan B, 4.500%, 1M LIBOR + 3.500%, 12/11/26 ..... 376,591 377,454 Delta TopCo, Inc. Hotels, Restaurants & Leisure—0.0% Term Loan B, 4.500%, 3M LIBOR + 3.750%, 12/01/27 ..... 981,385 984,759 Aramark ...... 12,643 470,952 Digicel International Finance, Ltd. Term Loan B, 3.430%, 6M LIBOR + 3.250%, 05/28/24 ..... 763,784 735,142 Life Sciences Tools & Services—0.3% Frontier Communications Corp. Avantor, Inc. (k) ...... 36,291 1,288,693 DIP Term Loan B, 4.500%, 1M LIBOR + 3.750%, 05/01/28 . . . 704,000 705,650 Syneos Health, Inc. (k) ...... 12,218 1,093,389 Intelsat Jackson Holdings S.A. 2,382,082 Term Loan, 5.839%, 3M LIBOR + 5.500%, 07/13/22 ...... 1,525,413 1,544,481 Term Loan B3, 8.000%, PRIME + 4.750%, 11/27/23 ...... 487,752 495,475 Media—0.0% Term Loan B4, 8.750%, PRIME + 5.500%, 01/02/24 ...... 553,575 565,408 Clear Channel Outdoor Holdings, Inc. (a) (k) ...... 168,961 446,057 Term Loan B5, 8.625%, 01/02/24 ...... 3,399,612 3,469,729 Xplornet Communications, Inc. Metals & Mining—0.2% Term Loan B, 4.854%, 1M LIBOR + 4.750%, 06/10/27 ..... 1,058,301 1,060,120 Constellium SE (k) ...... 77,706 1,472,529 Zayo Group Holdings, Inc. Term Loan, 3.104%, 1M LIBOR + 3.000%, 03/09/27 ...... 1,315,696 1,302,813 Oil, Gas & Consumable Fuels—0.8% 11,606,080 Cheniere Energy Partners L.P...... 1,333 59,039 Chesapeake Energy Corp...... 14,451 750,296 Transportation—0.0% ConocoPhillips ...... 10,130 616,917 AIT Worldwide Logistics, Inc Devon Energy Corp...... 24,438 713,345 2021 Term Loan, 5.500%, 3M LIBOR + 4.750%, 03/31/28 . . . 180,000 180,225 Diamondback Energy, Inc...... 9,831 923,033 Total Floating Rate Loans Energy Transfer L.P...... 48,803 518,776 (Cost $91,270,428) ...... 92,594,558 Enterprise Products Partners L.P...... 22,950 553,783 EQT Corp. (k) ...... 18,339 408,226 Extraction Oil & Gas, Inc. (k) ...... 15,565 854,674 Common Stocks—2.1% Extraction Oil & Gas, Inc. † (g) (k) ...... 10,317 557,063 Kinder Morgan, Inc...... 10,261 187,058 Auto Components—0.0% Plains All American Pipeline L.P...... 88,937 1,010,324 Lear Corp...... 525 92,022 SM Energy Co...... 7,875 193,961 Western Midstream Partners L.P...... 5,518 118,196 Building Products—0.0% Williams Cos., Inc. (The) ...... 6,977 185,239 Azek Co., Inc. (The) (k) ...... 452 19,192 7,649,930

Chemicals—0.3% Road & Rail—0.0% Atotech, Ltd. (k) ...... 2,315 59,102 Uber Technologies, Inc. (k) ...... 7,260 363,871 Diversey Holdings, Ltd. (k) ...... 56,195 1,006,452 Element Solutions, Inc...... 61,402 1,435,579 Total Common Stocks (Cost $16,135,630) ...... 20,475,234 2,501,133

Communications Equipment—0.0% CommScope Holding Co., Inc. (k) ...... 13,681 291,542

See accompanying notes to financial statements. BHFTI-138 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Convertible Bonds—1.0% Escrow Shares—0.0%

Principal Shares/ Security Description Amount* Value Principal Security Description Amount* Value Commercial Services—0.0% Nexi S.p.A. Diversified Financial Services—0.0% Zero Coupon, 02/24/28 (EUR) ...... 100,000 $ 119,729 Lehman Brothers Holdings, Inc...... 1,740,000 $ 12,180 Lehman Brothers Holdings, Inc...... 489,000 3,423 Engineering & Construction—0.0% Total Escrow Shares Cellnex Telecom S.A. (Cost $0) ...... 15,603 0.750%, 11/20/31 (EUR) ...... 400,000 463,391

Entertainment—0.1% Short-Term Investment—2.0% Live Nation Entertainment, Inc. 2.000%, 02/15/25 ...... 363,000 405,108 Repurchase Agreement—2.0% 2.500%, 03/15/23 ...... 480,000 670,224 Fixed Income Clearing Corp. 1,075,332 Repurchase Agreement dated 06/30/21 at 0.000%, due on 07/01/21 with a maturity value of $19,104,233; collateralized Internet—0.1% by U.S. Treasury Note at 0.125%, maturing 04/15/25, with a Uber Technologies, Inc. market value of $19,486,331...... 19,104,233 19,104,233 Zero Coupon, 12/15/25 ...... 777,000 787,878 Total Short-Term Investments (Cost $19,104,233) ...... 19,104,233 Lodging—0.0% Accor S.A. 0.700%, 12/07/27 (EUR) ...... 80,400 49,845 Securities Lending Reinvestments (l)—3.8%

Media—0.6% Certificates of Deposit—0.5% Cable One, Inc. Agricultural Bank of China 1.125%, 03/15/28 ...... 532,000 541,053 0.100%, 07/01/21 ...... 100,000 100,000 DISH Network Corp. Industrial & Commercial Bank of China Ltd. 2.375%, 03/15/24 ...... 699,000 677,593 0.110%, 07/22/21 ...... 1,000,000 999,957 3.375%, 08/15/26 ...... 989,000 1,009,275 Mitsubishi UFJ Trust and Banking Corp. (London) Liberty Broadband Corp. Zero Coupon, 08/11/21 ...... 1,499,349 1,499,760 1.250%, 09/30/50 (144A) ...... 1,079,000 1,086,013 Royal Bank of Canada New York 2.750%, 09/30/50 (144A) ...... 1,934,000 2,030,543 0.240%, 3M LIBOR + 0.040%, 10/05/21 (b) ...... 1,000,000 1,000,177 Toronto-Dominion Bank 5,344,477 0.330%, 3M LIBOR + 0.130%, 07/02/21 (b) ...... 1,000,000 1,000,008

Oil & Gas—0.1% 4,599,902 Centennial Resource Production LLC 3.250%, 04/01/28 ...... 207,000 272,329 Repurchase Agreements—1.9% PDC Energy, Inc. Barclays Bank plc 1.125%, 09/15/21 ...... 459,000 454,995 Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/01/21 with a maturity value of $1,200,007; collateralized 727,324 by various Common Stock with an aggregate market value of $1,333,436...... 1,200,000 1,200,000 Oil & Gas Services—0.1% Barclays Capital, Inc. Pioneer Energy Services Corp. Repurchase Agreement dated 06/30/21 at 0.030%, due on 5.000%, PIK, 11/15/25 † (c) (f) (g) ...... 516,974 573,841 07/01/21 with a maturity value of $2,519,458; collateralized by U.S. Treasury Obligations at 0.000%, maturity dates ranging Telecommunications—0.0% from 05/15/29 - 11/15/43, and an aggregate market value Telecom Italia S.p.A. of $2,569,845...... 2,519,456 2,519,456 1.125%, 03/26/22 (EUR) ...... 100,000 118,900 Deutsche Bank AG, London Total Convertible Bonds Repurchase Agreement dated 06/30/21 at 0.170%, due on (Cost $8,593,136) ...... 9,260,717 07/01/21 with a maturity value of $300,001; collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 03/11/31, and an aggregate market value of $306,000. .... 300,000 300,000

See accompanying notes to financial statements. BHFTI-139 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (l)—(Continued)

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Mutual Funds—(Continued) HSBC Bank plc Wells Fargo Government Money Market Fund, Select Class Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.030% (m) ...... 3,000,000 $ 3,000,000 07/01/21 with a maturity value of $1,900,005; collateralized 12,000,000 by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, Total Securities Lending Reinvestments and an aggregate market value of $1,938,781...... 1,900,000 $ 1,900,000 (Cost $35,819,166) ...... 35,819,358 National Bank of Canada Total Purchased Options—0.0% (n) Repurchase Agreement dated 06/30/21 at 0.210%, due on (Cost $4,049) ...... 8,063 07/07/21 with a maturity value of $5,000,204; collateralized Total Investments—104.8% by various Common Stock with an aggregate market value of (Cost $950,886,898) ...... 991,479,030 $5,555,588...... 5,000,000 5,000,000 Unfunded Loan Commitments—(0.0)% NBC Global Finance, Ltd. (Cost $(6,954)) ...... (6,954) Repurchase Agreement dated 06/30/21 at 0.245%, due on Net Investments—104.8% 07/07/21 with a maturity value of $1,300,062; collateralized (Cost $950,879,944) ...... 991,472,076 by U.S. Treasury Obligations with rates ranging from 1.875% - Other assets and liabilities (net)—(4.8)% ...... (45,487,360) 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, Net Assets—100.0% ...... $945,984,716 and various Common Stock with an aggregate market value of $1,444,445...... 1,300,000 1,300,000 Repurchase Agreement dated 06/30/21 at 0.260%, due on * Principal and notional amounts stated in U.S. dollars unless otherwise noted. † Restricted securities are not registered under the Securities Act of 1933 and are subject 07/07/21 with a maturity value of $700,035; collateralized by to legal restrictions on resale. These securities generally may be resold in transactions U.S. Treasury Obligations with rates ranging from 2.125% - exempt from registration or to the public if the securities are subsequently registered. 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, Disposal of these securities may involve time-consuming negotiations and prompt sale and various Common Stock with an aggregate market value of at an acceptable price may be difficult. As of June 30, 2021, the market value of $777,915...... 700,000 700,000 restricted securities was $3,450,871, which is 0.4% of net assets. See details shown in Societe Generale the Restricted Securities table that follows. Repurchase Agreement dated 06/30/21 at 0.180%, due on (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value 07/01/21 with a maturity value of $4,000,020; collateralized of securities loaned was $44,841,130 and the collateral received consisted of cash in by various Common Stock with an aggregate market value of the amount of $35,818,804 and non-cash collateral with a value of $10,859,716. The $4,444,537...... 4,000,000 4,000,000 cash collateral investments are disclosed in the Schedule of Investments and categorized Repurchase Agreement dated 06/30/21 at 0.185%, due on as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. 07/01/21 with a maturity value of $1,100,006; collateralized government securities that are held in safe-keeping by the lending agent, or a third- by various Common Stock with an aggregate market value of party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral $1,222,261...... 1,100,000 1,100,000 is excluded from the Statement of Assets and Liabilities. 18,019,456 (b) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Maturity date shown for callable securities reflects the earliest possible call date. For Time Deposits—0.1% securities based on a published reference index and spread, the index and spread are Landesbank Baden-Wuettertemberg (London) indicated in the description above. For certain variable rate securities, the coupon rate is 0.130%, 07/01/21 ...... 1,200,000 1,200,000 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 Mutual Funds—1.3% underlying collateral or prepayments of principal. These securities do not indicate a Fidelity Government Portfolio, Institutional Class reference index and spread in their description above. 0.010% (m) ...... 3,000,000 3,000,000 (c) Payment-in-kind security for which part of the income earned may be paid as additional Goldman Sachs Financial Square Government Fund, Institutional principal. (d) Non-income producing; security is in default and/or issuer is in bankruptcy. Shares (e) Security is a “step-up” bond where coupon increases or steps up at a predetermined 0.020% (m) ...... 1,000,000 1,000,000 date. Rate shown is current coupon rate. STIT-Government & Agency Portfolio, Institutional Class (f) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. 0.030% (m) ...... 5,000,000 5,000,000 Level 3. (g) Security was valued in good faith under procedures approved by the Board of Trustees. As of June 30, 2021, these securities represent 0.2% of net assets.

See accompanying notes to financial statements. BHFTI-140 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

(h) Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows (j) Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain or permit the borrowers to repay at their election. The degree to which borrowers repay, credit agreements for which all or a portion may be unfunded. The Portfolio is obligated whether as a contractual requirement or at their election, cannot be predicted with to fund these commitments at the borrower’s discretion. accuracy. As a result, the actual remaining maturity may be substantially less than the (k) Non-income producing security. stated maturities shown. However, Senior Loans will generally have an expected (l) Represents investment of cash collateral received from securities on loan as of June 30, average life of approximately two to four years. Senior Loans typically have rates of 2021. interest which are determined periodically by reference to a base lending rate, plus a (m) The rate shown represents the annualized seven-day yield as of June 30, 2021. spread. These base rates are primarily the London Interbank Offered Rate and (n) For a breakout of open positions, see details shown in the Purchased Options table that secondarily, the prime rate offered by one or more major United States banks. Base follows. lending rates may be subject to a floor, or a minimum rate. (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. (i) This loan will settle after June 30, 2021, at which time the interest rate will be These securities may be resold in transactions exempt from registration, normally to determined. qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $629,642,928, which is 66.6% of net assets.

Shares/ Acquisition Principal Restricted Securities Date Amount Cost Value Extraction Oil & Gas, Inc...... 01/15/21 10,317 $ 198,498 $ 557,063 Intelsat Jackson Holdings S.A., 8.000%, 02/15/24 ...... 05/18/20 142,000 144,130 146,653 Macy’s, Inc., 8.375%, 06/15/25 ...... 05/27/20 1,221,000 1,223,560 1,344,565 Pioneer Energy Services Corp., 11.000%, 05/15/25 ...... 11/15/20-02/15/21 696,322 583,546 701,544 Pioneer Energy Services Corp., 5.000%, 11/15/25 ...... 11/15/20-05/15/21 516,974 319,931 573,841 Pioneer Energy Services Corp...... 05/29/20 1,763 23,514 26,092 Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd., 8.000%, 09/20/25 ...... 09/02/20 89,401 88,607 101,113 Waterford Gaming LLC / Waterford Gaming Financial Corp., 8.625%, 09/15/14 ...... 09/24/07 283,116 283,116 0 $3,450,871

Forward Foreign Currency Exchange Contracts

Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) EUR 196,000 SCB ...... 07/01/21 USD 233,726 $ (1,319)

Contracts to Deliver EUR 17,768,000 BNP ...... 09/15/21 USD 21,538,782 438,305 EUR 98,000 NWM ...... 09/15/21 USD 118,992 2,612 EUR 3,000 NWM ...... 09/15/21 USD 3,574 11 EUR 50,000 RBC ...... 09/15/21 USD 59,789 411 EUR 196,000 SCB ...... 09/15/21 USD 234,084 1,323 EUR 121,000 TDB ...... 09/15/21 USD 146,757 3,063 EUR 115,000 UBSA ...... 09/15/21 USD 136,994 425 GBP 2,660,000 CBNA ...... 09/15/21 USD 3,759,013 78,821 GBP 44,000 CBNA ...... 09/15/21 USD 62,299 1,424 GBP 57,000 HSBC ...... 09/15/21 USD 80,817 1,956 GBP 55,000 HSBC ...... 09/15/21 USD 77,670 1,576 Net Unrealized Appreciation ...... $528,608

Futures Contracts

Value/ Unrealized Expiration Number of Appreciation/ Futures Contracts—Short Date Contracts Notional Value (Depreciation) Euro-Bund Futures ...... 09/08/21 (1) EUR (172,610) $ (1,246) U.S. Treasury Long Bond Futures ...... 09/21/21 (2) USD (321,500) (7,496) U.S. Treasury Note 10 Year Futures ...... 09/21/21 (46) USD (6,095,000) (25,939) U.S. Treasury Note 5 Year Futures ...... 09/30/21 (48) USD (5,924,625) 16,427 U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 (16) USD (3,083,000) (130,597) United Kingdom Long Gilt Bond Futures ...... 09/28/21 (3) GBP (384,300) (3,434) Net Unrealized Depreciation ...... $(152,285)

See accompanying notes to financial statements. BHFTI-141 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Purchased Options Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ Options on Exchange-Traded Future Contracts Price Date Contracts Amount Paid Value (Depreciation) Call - Euro STOXX Banks Index Futures ...... EUR 90.000 09/17/21 20 EUR 1,000 $4,049 $8,063 $4,014

Swap Agreements

OTC Credit Default Swaps on Corporate Issues—Sell Protection (c)

Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premium Appreciation/ Reference Obligation Receive Rate Frequency Date Counterparty 2021(a) Amount(b) Value Paid/(Received) (Depreciation) CMA CGM S.A. 5.250%, due 01/15/25 ...... 5.000% Quarterly 06/20/26 CSI 3.367% EUR 10,000 $ 898 $ 513 $ 385 CMA CGM S.A. 5.250%, due 01/15/25 ...... 5.000% Quarterly 06/20/26 BBP 3.367% EUR 10,000 898 924 (26) Century Link, Inc. 6.150%, due 09/15/19 ...... 1.000% Quarterly 12/20/23 BBP 1.655% USD 348,000 (5,544) (13,214) 7,670 Century Link, Inc. 6.150%, due 09/15/19 ...... 1.000% Quarterly 06/20/25 BBP 2.361% USD 225,000 (11,523) (41,969) 30,446 Rolls Royce plc 2.125%, due 06/18/21 ...... 1.000% Quarterly 06/20/25 CBNA 2.011% EUR 10,755 (496) (1,528) 1,032 Virgin Media Finance plc 3.750%, due 7/15/30 ...... 5.000% Quarterly 12/20/25 JPMC 2.234% EUR 30,000 4,260 3,585 675 Totals ...... $(11,507) $(51,689) $40,182

(a) 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. (b) 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. (c) 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.

Glossary of Abbreviations

Counterparties (BBP)— Barclays Bank plc (HSBC)— HSBC Bank plc (SCB)— Standard Chartered Bank (BNP)— BNP Paribas S.A. (JPMC)— JPMorgan Chase Bank N.A. (TDB)— Toronto Dominion Bank (CBNA)— Citibank N.A. (NWM)— NatWest Markets plc (UBSA)— UBS AG (CSI)— Credit Suisse International (RBC)— Royal Bank of Canada

Currencies (EUR)— Euro (GBP)— British Pound (USD)— United States Dollar

Index Abbreviations (EURIBOR)—Euro InterBank Offered Rate (LIBOR)— London Interbank Offered Rate (UKG) — United Kingdom Gilts (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (PRIME)— U.S. Federal Reserve Prime Rate Maturity Index (SOFR)— Secured Overnight Financing Rate

Other Abbreviations (REIT)— Real Estate Investment Trust

See accompanying notes to financial statements. BHFTI-142 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Corporate Bonds & Notes Advertising ...... $— $ 7,642,031 $— $ 7,642,031 Aerospace/Defense ...... — 25,296,407 — 25,296,407 Agriculture ...... — 126,710 — 126,710 Airlines ...... — 17,483,691 — 17,483,691 Apparel ...... — 1,037,357 — 1,037,357 Auto Manufacturers ...... — 10,227,040 — 10,227,040 Auto Parts & Equipment ...... — 14,166,678 — 14,166,678 Banks ...... — 14,760,381 — 14,760,381 Beverages ...... — 297,743 — 297,743 Biotechnology ...... — 418,025 — 418,025 Building Materials ...... — 9,478,357 — 9,478,357 Chemicals ...... — 10,661,208 — 10,661,208 Commercial Services ...... — 41,689,626 — 41,689,626 Computers ...... — 11,923,783 — 11,923,783 Cosmetics/Personal Care ...... — 944,319 — 944,319 Distribution/Wholesale ...... — 4,501,283 — 4,501,283 Diversified Financial Services ...... — 16,180,833 — 16,180,833 Electric ...... — 14,465,747 — 14,465,747 Electrical Components & Equipment ...... — 2,373,335 — 2,373,335 Electronics ...... — 4,510,989 — 4,510,989 Energy-Alternate Sources ...... — 408,042 — 408,042 Engineering & Construction ...... — 3,250,457 — 3,250,457 Entertainment ...... — 29,825,621 0 29,825,621 Environmental Control ...... — 8,434,666 — 8,434,666 Food ...... — 25,300,992 — 25,300,992 Food Service ...... — 1,293,875 — 1,293,875 Hand/Machine Tools ...... — 119,144 — 119,144 Healthcare-Products ...... — 6,491,457 — 6,491,457 Healthcare-Services ...... — 48,509,290 — 48,509,290 Home Builders ...... — 6,511,744 — 6,511,744 Home Furnishings ...... — 1,284,236 — 1,284,236 Household Products/Wares ...... — 2,128,825 — 2,128,825 Housewares ...... — 1,914,318 — 1,914,318 Insurance ...... — 13,268,614 — 13,268,614 Internet ...... — 15,114,189 — 15,114,189 Investment Companies ...... — 4,118,231 — 4,118,231 Iron/Steel ...... — 5,541,141 — 5,541,141 Leisure Time ...... — 14,193,110 — 14,193,110 Lodging ...... — 7,352,120 — 7,352,120 Machinery-Construction & Mining ...... — 1,808,501 — 1,808,501 Machinery-Diversified ...... — 8,932,630 — 8,932,630 Media ...... — 55,971,461 — 55,971,461

See accompanying notes to financial statements. BHFTI-143 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Metal Fabricate/Hardware ...... $ — $ 1,328,783 $ — $ 1,328,783 Mining ...... — 14,493,202 — 14,493,202 Miscellaneous Manufacturing ...... — 4,878,611 — 4,878,611 Office/Business Equipment ...... — 1,065,829 — 1,065,829 Oil&Gas...... — 55,825,729 — 55,825,729 Oil & Gas Services ...... — 4,345,366 701,544 5,046,910 Packaging & Containers ...... — 19,442,084 — 19,442,084 Pharmaceuticals ...... — 21,408,525 — 21,408,525 Pipelines ...... — 40,634,152 — 40,634,152 Real Estate ...... — 5,418,292 0 5,418,292 Real Estate Investment Trusts ...... — 27,810,863 — 27,810,863 Retail ...... — 32,653,626 — 32,653,626 Semiconductors ...... — 2,862,570 — 2,862,570 Software ...... — 31,157,346 — 31,157,346 Telecommunications ...... — 76,134,880 — 76,134,880 Toys/Games/Hobbies ...... — 1,595,782 — 1,595,782 Transportation ...... — 830,615 — 830,615 Trucking & Leasing ...... — 1,129,154 — 1,129,154 Water ...... — 526,104 — 526,104 Total Corporate Bonds & Notes ...... — 813,499,720 701,544 814,201,264 Floating Rate Loans Advertising ...... — 1,642,421 — 1,642,421 Aerospace/Defense ...... — 829,423 — 829,423 Airlines ...... — 4,515,284 — 4,515,284 Auto Parts & Equipment ...... — 543,005 — 543,005 Building Materials ...... — 660,048 — 660,048 Chemicals ...... — 3,903,740 — 3,903,740 Commercial Services ...... — 7,812,126 — 7,812,126 Computers ...... — 5,725,275 — 5,725,275 Distribution/Wholesale ...... — 284,997 — 284,997 Diversified Financial Services ...... — 1,168,379 — 1,168,379 Electric ...... — 35,460 — 35,460 Engineering & Construction ...... — 3,802,593 — 3,802,593 Entertainment ...... — 147,391 — 147,391 Environmental Control ...... — 203,555 — 203,555 Food ...... — 674,854 — 674,854 Healthcare-Products ...... — 2,200,634 — 2,200,634 Healthcare-Services ...... — 3,094,268 — 3,094,268 Insurance ...... — 2,395,701 — 2,395,701 Internet ...... — 2,157,568 — 2,157,568 Leisure Time ...... — 607,944 — 607,944 Lodging ...... — 1,335,135 — 1,335,135 Machinery-Diversified ...... — 1,952,075 — 1,952,075 Media ...... — 1,258,467 — 1,258,467 Miscellaneous Manufacturing ...... — 173,326 — 173,326 Oil&Gas...... — 4,228,157 — 4,228,157 Oil & Gas Services ...... — 20,293 — 20,293 Packaging & Containers ...... — 1,046,514 — 1,046,514 Pharmaceuticals ...... — 2,905,360 — 2,905,360 Retail (Less Unfunded Loan Commitments of $6,954) ...... — 4,323,767 209,547 4,533,314 Shipbuilding ...... — 958,010 — 958,010 Software ...... — 19,985,982 — 19,985,982 Telecommunications ...... — 11,606,080 — 11,606,080 Transportation ...... — 180,225 — 180,225 Total Floating Rate Loans ((Less Unfunded Loan Commitments of $6,954) ...... — 92,378,057 209,547 92,587,604 Common Stocks Auto Components ...... 92,022 — — 92,022 Building Products ...... 19,192 — — 19,192

See accompanying notes to financial statements. BHFTI-144 Brighthouse Funds Trust I BlackRock High Yield Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Chemicals ...... $ 2,501,133 $ — $ — $ 2,501,133 Communications Equipment ...... 291,542 — — 291,542 Electrical Equipment ...... 719,930 — — 719,930 Energy Equipment & Services ...... — — 26,092 26,092 Entertainment ...... 471,585 — — 471,585 Equity Real Estate Investment Trusts ...... 3,568,317 — — 3,568,317 Hotels, Restaurants & Leisure ...... 470,952 — — 470,952 Life Sciences Tools & Services ...... 2,382,082 — — 2,382,082 Media ...... 446,057 — — 446,057 Metals & Mining ...... 1,472,529 — — 1,472,529 Oil, Gas & Consumable Fuels ...... 7,092,867 557,063 — 7,649,930 Road & Rail ...... 363,871 — — 363,871 Total Common Stocks ...... 19,892,079 557,063 26,092 20,475,234 Convertible Bonds Commercial Services ...... — 119,729 — 119,729 Engineering & Construction ...... — 463,391 — 463,391 Entertainment ...... — 1,075,332 — 1,075,332 Internet ...... — 787,878 — 787,878 Lodging ...... — 49,845 — 49,845 Media ...... — 5,344,477 — 5,344,477 Oil&Gas ...... — 727,324 — 727,324 Oil & Gas Services ...... — — 573,841 573,841 Telecommunications ...... — 118,900 — 118,900 Total Convertible Bonds ...... — 8,686,876 573,841 9,260,717 Total Escrow Shares* ...... — 15,603 — 15,603 Total Short-Term Investment* ...... — 19,104,233 — 19,104,233 Securities Lending Reinvestments Certificates of Deposit ...... — 4,599,902 — 4,599,902 Repurchase Agreements ...... — 18,019,456 — 18,019,456 Time Deposits ...... — 1,200,000 — 1,200,000 Mutual Funds ...... 12,000,000 — — 12,000,000 Total Securities Lending Reinvestments ...... 12,000,000 23,819,358 — 35,819,358 Total Purchased Options at Value ...... 8,063 — — 8,063 Total Net Investments ...... $31,900,142 $958,060,910 $1,511,024 $991,472,076 Collateral for Securities Loaned (Liability) ...... $ — $(35,818,804) $ — $ (35,818,804) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 529,927 $ — $ 529,927 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (1,319) — (1,319) Total Forward Contracts ...... $ — $ 528,608 $ — $ 528,608 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 16,427 $ — $ — $ 16,427 Futures Contracts (Unrealized Depreciation) ...... (168,712) — — (168,712) Total Futures Contracts ...... $ (152,285) $ — $ — $ (152,285) OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 6,056 $ — $ 6,056 OTC Swap Contracts at Value (Liabilities) ...... — (17,563) — (17,563) Total OTC Swap Contracts ...... $ — $ (11,507) $ — $ (11,507)

* 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 June 30, 2021 is not presented.

See accompanying notes to financial statements. BHFTI-145 Brighthouse Funds Trust I Brighthouse Asset Allocation 100 Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—100.0% of Net Assets

Security Description Shares Value Security Description Shares Value

Affiliated Investment Companies—100.0% Affiliated Investment Companies—(Continued) Baillie Gifford International Stock Portfolio (Class A) (a) ...... 5,794,103 $ 86,505,954 MFS Value Portfolio (Class A) (a) ...... 7,346,462 $ 128,489,624 BlackRock Capital Appreciation Portfolio (Class A) (a) ...... 1,497,840 78,846,315 Morgan Stanley Discovery Portfolio (Class A) (b) ...... 378,056 10,226,420 Brighthouse Small Cap Value Portfolio (Class A) (b) ...... 3,339,460 60,410,830 Neuberger Berman Genesis Portfolio (Class A) (a) ...... 937,112 22,809,308 Brighthouse/Aberdeen Emerging Markets Equity Portfolio SSGA Emerging Markets Enhanced Index Portfolio (Class A) (b) . . . 3,510,933 44,097,313 (Class A) (b) ...... 3,622,629 53,940,946 T. Rowe Price Large Cap Growth Portfolio (Class A) (a) ...... 4,101,285 121,521,080 Brighthouse/Artisan International Portfolio (Class A) (b) ...... 6,029,618 82,485,168 T. Rowe Price Large Cap Value Portfolio (Class A) (b) ...... 3,527,189 117,420,116 Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a) ...... 54,870 15,038,683 T. Rowe Price Mid Cap Growth Portfolio (Class A) (b) ...... 1,227,443 15,355,318 Brighthouse/Dimensional International Small Company Portfolio T. Rowe Price Small Cap Growth Portfolio (Class A) (a) ...... 1,336,150 34,579,550 (Class A) (a) ...... 7,767,156 100,973,029 VanEck Global Natural Resources Portfolio (Class A) (a) ...... 3,373,438 40,751,128 Brighthouse/Wellington Core Equity Opportunities Portfolio Victory Sycamore Mid Cap Value Portfolio (Class A) (b) ...... 450,926 10,136,810 (Class A) (a) ...... 2,904,136 103,474,373 Wells Capital Management Mid Cap Value Portfolio (Class A) (b) . . 1,398,821 20,198,981 Brighthouse/Wellington Large Cap Research Portfolio Total Mutual Funds (Class A) (b) ...... 4,470,029 78,046,704 (Cost $1,662,142,706) ...... 2,030,675,097 Clarion Global Real Estate Portfolio (Class A) (b) ...... 4,677,392 61,601,250 Frontier Mid Cap Growth Portfolio (Class A) (a) ...... 483,563 20,358,018 Total Investments—100.0% Harris Oakmark International Portfolio (Class A) (b) ...... 7,451,466 112,889,708 (Cost $1,662,142,706) ...... 2,030,675,097 Invesco Comstock Portfolio (Class A) (b) ...... 7,587,177 118,284,094 Other assets and liabilities (net)—0.0% ...... (638,606) Invesco Global Equity Portfolio (Class A) (b) ...... 1,644,941 51,881,449 Net Assets—100.0% ...... $2,030,036,491 Invesco Small Cap Growth Portfolio (Class A) (b) ...... 2,040,180 35,295,110 Jennison Growth Portfolio (Class A) (a) ...... 5,962,511 116,507,465 JPMorgan Small Cap Value Portfolio (Class A) (b) ...... 2,162,580 41,824,304 (a) A Portfolio of Brighthouse Funds Trust II. (See Note 6 of the Notes to Financial Loomis Sayles Growth Portfolio (Class A) (b) ...... 8,150,202 129,669,711 Statements for a summary of transactions in the securities of affiliated issuers.) Loomis Sayles Small Cap Growth Portfolio (Class A) (a) ...... 3,369,532 53,440,784 (b) A Portfolio of Brighthouse Funds Trust I. (See Note 6 of the Notes to Financial MFS Research International Portfolio (Class A) (b) ...... 4,457,993 63,615,554 Statements for a summary of transactions in the securities of affiliated issuers.)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Mutual Funds Affiliated Investment Companies ...... $2,030,675,097 $— $— $2,030,675,097 Total Investments ...... $2,030,675,097 $— $— $2,030,675,097

See accompanying notes to financial statements. BHFTI-146 Brighthouse Funds Trust I Brighthouse Balanced Plus Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—69.3% of Net Assets U.S. Treasury & Government Agencies—28.3%

Principal Security Description Shares Value Security Description Amount* Value

Affiliated Investment Companies—69.3% Agency Sponsored Mortgage-Backed—1.7% AB International Bond Portfolio (Class A) (a) ...... 14,527,170 $ 152,390,008 Fannie Mae 30 Yr. Pool Baillie Gifford International Stock Portfolio (Class A) (b) .... 22,109,640 330,096,924 4.000%, 08/01/47 ...... 43,021 $ 45,973 BlackRock Bond Income Portfolio (Class A) (b) ...... 8,065,071 870,140,512 4.000%, 06/01/48 ...... 182,113 194,409 BlackRock Capital Appreciation Portfolio (Class A) (b) ..... 519,602 27,351,823 4.000%, 11/01/48 ...... 11,429 12,149 BlackRock High Yield Portfolio (Class A) (a) ...... 15,438,584 122,736,743 4.000%, 03/01/49 ...... 2,014,472 2,141,229 Brighthouse Small Cap Value Portfolio (Class A) (a) ...... 8,020,209 145,085,576 4.000%, 08/01/49 ...... 272,899 290,824 Brighthouse/Aberdeen Emerging Markets Equity Portfolio 4.000%, 03/01/50 ...... 47,942,172 50,977,226 (Class A) (a) ...... 8,017,906 119,386,625 4.000%, 07/01/50 ...... 8,551,871 9,089,981 Fannie Mae Pool Brighthouse/Artisan International Portfolio (Class A) (a) . . . 17,829,220 243,903,734 2.920%, 03/01/35 ...... 2,950,000 3,223,695 Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b) . . 652,715 178,896,157 3.180%, 07/01/35 ...... 2,620,375 2,934,259 Brighthouse/Dimensional International Small Company Freddie Mac 30 Yr. Pool Portfolio (Class A) (b) ...... 12,830,820 166,800,662 4.000%, 05/01/48 ...... 10,227 10,913 Brighthouse/Eaton Vance Floating Rate Portfolio 4.000%, 03/01/50 ...... 169,603 180,655 (Class A) (a) ...... 18,495,233 181,993,094 4.000%, 05/01/50 ...... 161,647 172,550 Brighthouse/Franklin Low Duration Total Return Portfolio Freddie Mac Multifamily Structured Pass-Through Certificates (Class A) (a) ...... 32,258,443 300,648,688 3.176%, 11/25/28 ...... 5,097,997 5,594,157 Brighthouse/Templeton International Bond Portfolio Ginnie Mae II 30 Yr. Pool (Class A) (a) (c) ...... 19,406,858 156,613,343 4.000%, TBA (d) ...... 110,000,000 116,157,422 Brighthouse/Wellington Core Equity Opportunities Portfolio Uniform Mortgage-Backed Securities 30 Yr. Pool (Class A) (b) ...... 1,336,894 47,633,527 4.000%, TBA (d) ...... 16,000,000 17,051,250 Brighthouse/Wellington Large Cap Research Portfolio 208,076,692 (Class A) (a) ...... 3,158,465 55,146,794 Clarion Global Real Estate Portfolio (Class A) (a) ...... 8,220,734 108,267,069 Federal Agencies—0.3% Frontier Mid Cap Growth Portfolio (Class A) (b) ...... 3,829,426 161,218,825 Resolution Funding Corp. Principal Strip Harris Oakmark International Portfolio (Class A) (a) ...... 29,840,872 452,089,205 Zero Coupon, 04/15/30 ...... 19,500,000 16,866,428 Invesco Comstock Portfolio (Class A) (a) ...... 835,246 13,021,486 Tennessee Valley Authority Invesco Global Equity Portfolio (Class A) (a) ...... 3,948,790 124,544,823 2.875%, 02/01/27 ...... 1,700,000 1,867,479 Invesco Small Cap Growth Portfolio (Class A) (a) ...... 6,208,278 107,403,209 4.250%, 09/15/65 ...... 10,000,000 14,026,260 Jennison Growth Portfolio (Class A) (b) ...... 2,034,583 39,755,752 32,760,167 JPMorgan Core Bond Portfolio (Class A) (a) ...... 49,304,143 512,763,087 JPMorgan Small Cap Value Portfolio (Class A) (a) ...... 5,393,423 104,308,794 U.S. Treasury—26.3% Loomis Sayles Growth Portfolio (Class A) (a) ...... 1,938,174 30,836,351 U.S. Treasury Bonds MFS Research International Portfolio (Class A) (a) ...... 21,865,921 312,026,697 1.375%, 11/15/40 ...... 48,000,000 43,117,500 MFS Value Portfolio (Class A) (b) ...... 2,204,517 38,557,005 1.375%, 08/15/50 ...... 367,400,000 309,721,069 Morgan Stanley Discovery Portfolio (Class A) (a) ...... 2,262,649 61,204,661 1.625%, 11/15/50 ...... 154,500,000 138,760,312 Neuberger Berman Genesis Portfolio (Class A) (b) ...... 3,506,853 85,356,797 1.875%, 02/15/41 ...... 32,200,000 31,520,781 PIMCO Inflation Protected Bond Portfolio (Class A) (a) ..... 22,263,083 243,558,131 1.875%, 02/15/51 ...... 173,000,000 165,106,875 PIMCO Total Return Portfolio (Class A) (a) ...... 56,772,325 660,262,136 2.250%, 05/15/41 ...... 75,000,000 78,035,156 SSGA Emerging Markets Enhanced Index Portfolio 2.375%, 05/15/51 ...... 5,000,000 5,338,281 (Class A) (a) ...... 8,551,941 107,412,377 2.750%, 11/15/42 ...... 196,000,000 220,706,719 T. Rowe Price Large Cap Value Portfolio (Class A) (a) ...... 897,601 29,881,125 2.875%, 05/15/43 ...... 126,000,000 144,909,843 T. Rowe Price Mid Cap Growth Portfolio (Class A) (a) ...... 7,374,988 92,261,098 2.875%, 08/15/45 ...... 27,300,000 31,559,226 T. Rowe Price Small Cap Growth Portfolio (Class A) (b) ..... 5,792,261 149,903,713 2.875%, 11/15/46 ...... 114,100,000 132,427,313 TCW Core Fixed Income Portfolio (Class A) (a) ...... 68,201,329 701,109,661 3.000%, 11/15/44 ...... 96,000,000 113,017,500 VanEck Global Natural Resources Portfolio (Class A) (b) .... 13,947,645 168,487,553 3.000%, 02/15/47 ...... 36,400,000 43,242,063 3.000%, 02/15/49 ...... 143,700,000 172,041,457 Wells Capital Management Mid Cap Value Portfolio 3.125%, 02/15/43 ...... 89,700,000 107,177,484 (Class A) (a) ...... 12,287,899 177,437,258 3.375%, 05/15/44 ...... 99,895,000 124,560,480 Western Asset Management Strategic Bond Opportunities U.S. Treasury Notes Portfolio (Class A) (b) ...... 29,784,741 403,881,090 0.250%, 09/30/25 (e) ...... 40,000,000 39,157,812 Western Asset Management U.S. Government Portfolio 0.375%, 12/31/25 (e) ...... 50,000,000 49,052,735 (Class A) (b) ...... 35,848,624 417,994,952 0.375%, 01/31/26 (e) ...... 14,400,000 14,111,438 Total Mutual Funds 0.375%, 09/30/27 ...... 125,000,000 119,414,063 (Cost $7,656,143,194) ...... 8,402,367,065 0.500%, 02/28/26 ...... 21,100,000 20,780,203 0.625%, 08/15/30 ...... 23,000,000 21,427,734

See accompanying notes to financial statements. BHFTI-147 Brighthouse Funds Trust I Brighthouse Balanced Plus Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued) Municipals—0.0%

Principal Principal Security Description Amount* Value Security Description Amount* Value Los Angeles Community College District, Build America Bond U.S. Treasury—(Continued) 6.750%, 08/01/49 ...... 400,000 $ 679,111 U.S. Treasury Notes Port Authority of New York & New Jersey 0.750%, 03/31/26 ...... 36,100,000 $ 35,937,832 4.458%, 10/01/62 ...... 1,845,000 2,420,501 0.750%, 05/31/26 ...... 300,000,000 298,289,064 0.875%, 11/15/30 ...... 42,700,000 40,605,031 Total Municipals 1.125%, 02/29/28 ...... 20,500,000 20,439,141 (Cost $2,512,921) ...... 3,099,612 1.125%, 02/15/31 ...... 75,700,000 73,488,141 1.250%, 04/30/28 ...... 49,000,000 49,153,125 1.500%, 11/30/24 (e) ...... 100,000,000 103,183,594 Short-Term Investments—2.7% 2.750%, 08/31/23 ...... 422,000,000 444,468,204 3,190,750,176 Repurchase Agreements—2.1% Barclays Capital, Inc. Total U.S. Treasury & Government Agencies Repurchase Agreement dated 06/30/21 at 0.040%, due (Cost $3,319,581,968) ...... 3,431,587,035 on 07/02/21 with a maturity value of $109,000,242; collateralized by U.S. Treasury Notes with rates ranging Corporate Bonds & Notes—1.6% from 0.125% - 0.500%, maturity dates ranging from 01/31/23 - 08/31/27, and an aggregate market value of $111,021,606...... 109,000,000 109,000,000 Banks—1.5% Fixed Income Clearing Corp. Bank of America Corp. 3.419%, 3M LIBOR + 1.040%, 12/20/28 (f) ...... 20,000,000 21,782,188 Repurchase Agreement dated 06/30/21 at 0.000%, due Bank of New York Mellon Corp. (The) on 07/01/21 with a maturity value of $2,052,106; 3.555%, 3M LIBOR + 3.420%, 09/20/21 (f) ...... 6,800,000 6,849,300 collateralized by U.S. Treasury Note at 0.625%, maturing Citigroup, Inc. 01/15/24, with a market value of $2,093,150...... 2,052,106 2,052,106 3.887%, 3M LIBOR + 1.563%, 01/10/28 (f) ...... 20,000,000 22,258,917 Goldman Sachs & Co. LLC Cooperative Rabobank UA Repurchase Agreement dated 06/30/21 at 0.030%, due 4.375%, 08/04/25 ...... 5,000,000 5,582,945 on 07/01/21 with a maturity value of $58,500,049; Goldman Sachs Group, Inc. (The) collateralized by U.S. Government Agency Obligations at 3.691%, 3M LIBOR + 1.510%, 06/05/28 (f) ...... 10,000,000 11,041,085 2.500%, maturing 07/01/51, with a market value of 3.750%, 02/25/26 ...... 19,500,000 21,572,693 $61,298,970...... 58,500,000 58,500,000 HSBC Holdings plc JPMorgan Securities, LLC 4.300%, 03/08/26 ...... 20,000,000 22,558,737 Repurchase Agreement dated 06/30/21 at 0.030%, due 5.250%, 03/14/44 ...... 3,000,000 3,887,877 on 07/01/21 with a maturity value of $ 81,700,068; JPMorgan Chase & Co. collateralized by U.S. Treasury Note at 0.125%, maturing 3.540%, 3M LIBOR + 1.380%, 05/01/28 (f) ...... 10,000,000 10,994,648 10/31/22, with a market value of $83,337,949...... 81,700,000 81,700,000 4.000%, SOFR + 2.745%, 04/01/25 (f) ...... 8,000,000 8,105,600 6.125%, 3M LIBOR + 3.330%, 04/30/24 (f) ...... 3,000,000 3,251,250 251,252,106 Mizuho Financial Group, Inc. 4.254%, 3M LIBOR + 1.270%, 09/11/29 (f) ...... 5,000,000 5,766,556 U.S. Treasury—0.6% Morgan Stanley U.S. Treasury Bills 3.591%, 3M LIBOR + 1.340%, 07/22/28 (f) ...... 20,000,000 22,155,029 0.011%, 08/17/21 (e) (g) ...... 5,300,000 5,299,680 Wells Fargo & Co. 0.043%, 09/23/21 (g) ...... 12,300,000 12,298,565 5.900%, 3M LIBOR + 3.110%, 06/15/24 (f) ...... 8,600,000 9,266,500 U.S. Treasury Cash Management Bills 0.012%, 09/14/21 (e) (g) ...... 30,100,000 30,097,178 175,073,325 0.023%, 09/28/21 (e) (g) ...... 17,400,000 17,398,279 0.028%, 10/05/21 (g) ...... 10,300,000 10,298,764 Insurance—0.1% MassMutual Global Funding II 75,392,466 2.500%, 10/17/22 (144A) ...... 4,000,000 4,112,769 Total Short-Term Investments (Cost $326,648,347) ...... 326,644,572 Telecommunications—0.0% AT&T, Inc. Total Investments—101.9% 3.500%, 09/15/53 (144A) ...... 2,045,000 2,054,551 (Cost $11,443,056,131) ...... 12,349,344,479 3.800%, 12/01/57 (144A) ...... 1,556,000 1,621,169 Other assets and liabilities (net)—(1.9)% ...... (228,456,818) 3,675,720 Net Assets—100.0% ...... $12,120,887,661

Transportation—0.0% Vessel Management Services, Inc. * Principal amount stated in U.S. dollars unless otherwise noted. 3.432%, 08/15/36 ...... 2,526,000 2,784,381 (a) A Portfolio of Brighthouse Funds Trust I. (See Note 7 of the Notes to Financial Total Corporate Bonds & Notes Statements for a summary of transactions in the securities of affiliated issuers.) (Cost $138,169,701) ...... 185,646,195 (b) A Portfolio of Brighthouse Funds Trust II. (See Note 7 of the Notes to Financial Statements for a summary of transactions in the securities of affiliated issuers.)

See accompanying notes to financial statements. BHFTI-148 Brighthouse Funds Trust I Brighthouse Balanced Plus Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

(c) Non-income producing security. (g) The rate shown represents current yield to maturity. (d) TBA (To Be Announced) Securities are purchased on a forward commitment basis with (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. an approximate principal amount and no defined maturity date. The actual principal These securities may be resold in transactions exempt from registration, normally to and maturity date will be determined upon settlement date. qualified institutional buyers. As of June 30, 2021, the market value of 144A securities (e) All or a portion of the security was pledged as collateral against open futures contracts. was $7,788,489, which is 0.1% of net assets. As of June 30, 2021, the market value of securities pledged was $208,290,360. (f) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 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.

Forward Foreign Currency Exchange Contracts

Settlement In Exchange Unrealized Contracts to Deliver Counterparty Date for Appreciation JPY 20,900,000 BBP ...... 07/02/21 USD 191,093 $2,965 JPY 20,900,000 BBP ...... 08/03/21 USD 188,352 176 Net Unrealized Appreciation ...... $3,141

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) S&P 500 Index E-Mini Futures ...... 09/17/21 18,320 USD 3,928,357,600 $51,465,376

Glossary of Abbreviations

Counterparties (BBP)— Barclays Bank plc

Currencies (JPY)— Japanese Yen (USD)— United States Dollar

Index Abbreviations (LIBOR)— London Interbank Offered Rate (SOFR)— Secured Overnight Financing Rate

See accompanying notes to financial statements. BHFTI-149 Brighthouse Funds Trust I Brighthouse Balanced Plus Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Mutual Funds* ...... $8,402,367,065 $ — $— $ 8,402,367,065 Total U.S. Treasury & Government Agencies* ...... — 3,431,587,035 — 3,431,587,035 Total Corporate Bonds & Notes* ...... — 185,646,195 — 185,646,195 Total Municipals* ...... — 3,099,612 — 3,099,612 Total Short-Term Investments* ...... — 326,644,572 — 326,644,572 Total Investments ...... $8,402,367,065 $3,946,977,414 $— $12,349,344,479 Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 3,141 $— $ 3,141 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 51,465,376 $ — $— $ 51,465,376

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-150 Brighthouse Funds Trust I Brighthouse Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—99.0% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.6% Capital Markets—(Continued) PAE, Inc. (a) (b) ...... 184,700 $ 1,643,830 Westwood Holdings Group, Inc...... 79,627 $ 1,732,683 Parsons Corp. (a) (b) ...... 139,317 5,483,517 21,814,880 7,127,347 Chemicals—5.4% Airlines—0.2% Ashland Global Holdings, Inc. (b) ...... 37,900 3,316,250 SkyWest, Inc. (a) ...... 54,000 2,325,780 Atotech, Ltd. (a) (b) ...... 59,633 1,522,430 Avient Corp...... 375,754 18,472,067 Auto Components—0.5% Element Solutions, Inc...... 111,378 2,604,018 Adient plc (a) ...... 135,300 6,115,560 HB Fuller Co...... 77,800 4,948,858 Huntsman Corp...... 163,800 4,343,976 Banks—14.7% Innospec, Inc...... 174,559 15,816,791 Associated Banc-Corp...... 271,066 5,551,432 Minerals Technologies, Inc. (b) ...... 22,350 1,758,275 Bank of NT Butterfield & Son, Ltd. (The) ...... 102,100 3,619,445 NewMarket Corp...... 21,486 6,918,062 CVB Financial Corp...... 194,444 4,003,602 PQ Group Holdings, Inc. (b) ...... 287,584 4,417,290 East West Bancorp, Inc...... 260,600 18,682,414 Scotts Miracle-Gro Co. (The) ...... 13,700 2,629,304 First Citizens BancShares, Inc. - Class A (b) ...... 19,209 15,996,103 66,747,321 First Financial Bancorp ...... 233,000 5,505,790 First Hawaiian, Inc. (b) ...... 131,353 3,722,544 Commercial Services & Supplies—3.0% First Interstate BancSystem, Inc. - Class A ...... 80,800 3,379,864 ACCO Brands Corp...... 361,099 3,116,284 , Inc. (b) ...... 21,385 424,064 Deluxe Corp. (b) ...... 42,824 2,045,703 FNB Corp...... 693,400 8,549,622 Ennis, Inc. (b) ...... 137,770 2,964,810 Great Western Bancorp, Inc...... 190,900 6,259,611 Harsco Corp. (a) (b) ...... 194,866 3,979,164 Corp...... 362,273 16,099,412 Healthcare Services Group, Inc. (b) ...... 228,456 7,212,356 NBT Bancorp, Inc...... 51,000 1,834,470 Knoll, Inc...... 109,055 2,834,339 Prosperity Bancshares, Inc...... 63,000 4,523,400 Matthews International Corp. - Class A ...... 39,620 1,424,735 Renasant Corp. (b) ...... 140,852 5,634,080 UniFirst Corp...... 27,700 6,499,528 S&T Bancorp, Inc...... 79,200 2,478,960 Viad Corp. (a) (b) ...... 126,935 6,327,710 Sandy Spring Bancorp, Inc...... 71,600 3,159,708 South State Corp. (b) ...... 70,411 5,756,803 36,404,629 Sterling Bancorp ...... 186,100 4,613,419 Synovus Financial Corp. (b) ...... 149,000 6,538,120 Communications Equipment—0.9% UMB Financial Corp. (b) ...... 157,530 14,659,742 NETGEAR, Inc. (a) (b) ...... 75,374 2,888,332 Umpqua Holdings Corp...... 449,750 8,297,887 NetScout Systems, Inc. (a) ...... 107,590 3,070,618 Valley National Bancorp ...... 576,400 7,741,052 Viavi Solutions, Inc. (a) ...... 282,500 4,988,950 Webster Financial Corp. (b) ...... 203,200 10,838,688 10,947,900 WesBanco, Inc. (b) ...... 27,290 972,343 Western Alliance Bancorp ...... 137,400 12,757,590 Construction & Engineering—2.3% 181,600,165 API Group Corp. (a) (b) ...... 401,096 8,378,895 MasTec, Inc. (a) ...... 152,875 16,220,038 Beverages—0.4% Primoris Services Corp...... 122,100 3,593,403 Primo Water Corp...... 299,582 5,012,007 28,192,336

Building Products—2.6% Construction Materials—1.9% CSW Industrials, Inc. (b) ...... 90,751 10,750,363 Eagle Materials, Inc. (b) ...... 141,614 20,124,766 Griffon Corp...... 194,631 4,988,393 Summit Materials, Inc. - Class A (a) (b) ...... 105,100 3,662,735 Janus International Group Inc. (a) (b) ...... 269,444 3,807,244 JELD-WEN Holding, Inc. (a) ...... 49,512 1,300,185 23,787,501 Quanex Building Products Corp. (b) ...... 259,376 6,442,900 Simpson Manufacturing Co., Inc...... 44,885 4,957,099 Consumer Finance—0.4% PROG Holdings, Inc...... 90,000 4,331,700 32,246,184 Containers & Packaging—2.1% Capital Markets—1.8% Berry Global Group, Inc. (a) ...... 160,303 10,454,962 Apollo Investment Corp. (b) ...... 201,778 2,754,270 Myers Industries, Inc. (b) ...... 184,564 3,875,844 GlassBridge Enterprises, Inc. (a) ...... 572 52,052 Silgan Holdings, Inc. (b) ...... 281,256 11,672,124 New Mountain Finance Corp. (b) ...... 300,446 3,956,874 Stifel Financial Corp. (b) ...... 205,350 13,319,001 26,002,930

See accompanying notes to financial statements. BHFTI-151 Brighthouse Funds Trust I Brighthouse Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Distributors—0.3% Food Products—(Continued) Core-Mark Holding Co., Inc...... 83,799 $ 3,771,793 Nomad Foods, Ltd. (a) ...... 405,326 $ 11,458,566 Tootsie Roll Industries, Inc. (b) ...... 74,625 2,530,534 Diversified Consumer Services—0.3% UTZ Brands, Inc. (b) ...... 107,351 2,339,178 Service Corp. International ...... 78,550 4,209,495 44,165,713

Electric Utilities—1.5% Gas Utilities—0.7% ALLETE, Inc. (b) ...... 140,878 9,858,643 South Jersey Industries, Inc. (b) ...... 146,200 3,790,966 Hawaiian Electric Industries, Inc. (b) ...... 197,572 8,353,344 Southwest Gas Holdings, Inc...... 68,100 4,507,539 18,211,987 8,298,505

Electrical Equipment—1.7% Health Care Equipment & Supplies—2.1% Atkore, Inc. (a) ...... 265,886 18,877,906 Avanos Medical, Inc. (a) ...... 100,259 3,646,420 Babcock & Wilcox Enterprises, Inc. (a) (b) ...... 230,764 1,818,420 Integer Holdings Corp. (a) ...... 62,449 5,882,696 20,696,326 Integra LifeSciences Holdings Corp. (a) ...... 86,000 5,868,640 Natus Medical, Inc. (a) (b) ...... 117,599 3,055,222 Electronic Equipment, Instruments & Components—1.7% NuVasive, Inc. (a) ...... 18,039 1,222,683 Belden, Inc. (b) ...... 88,580 4,479,491 Ortho Clinical Diagnostics Holdings plc (a) ...... 119,665 2,562,027 Flex, Ltd. (a) ...... 413,737 7,393,480 Varex Imaging Corp. (a) (b) ...... 126,379 3,389,485 SYNNEX Corp...... 25,800 3,141,408 25,627,173 TTM Technologies, Inc. (a) (b) ...... 333,576 4,770,137 Vishay Intertechnology, Inc. (b) ...... 78,500 1,770,175 Health Care Providers & Services—1.7% 21,554,691 ATI Physical Therapy, Inc. (a) ...... 76,312 728,016 Owens & Minor, Inc. (b) ...... 202,277 8,562,385 Energy Equipment & Services—1.1% Patterson Cos., Inc. (b) ...... 134,123 4,075,998 Dril-Quip, Inc. (a) (b) ...... 57,700 1,951,991 Premier, Inc. - Class A ...... 75,002 2,609,320 Forum Energy Technologies, Inc. (a) (b) ...... 18,776 440,860 Select Medical Holdings Corp...... 112,000 4,733,120 Helix Energy Solutions Group, Inc. (a) (b) ...... 341,200 1,948,252 20,708,839 Patterson-UTI Energy, Inc. (b) ...... 765,537 7,609,438 TechnipFMC plc (a) ...... 158,455 1,434,018 Hotels, Restaurants & Leisure—3.5% 13,384,559 Bally’s Corp. (a) ...... 33,835 1,830,812 Choice Hotels International, Inc...... 50,200 5,966,772 Equity Real Estate Investment Trusts—4.1% Cracker Barrel Old Country Store, Inc...... 33,300 4,943,718 Brandywine Realty Trust ...... 378,000 5,182,380 Denny’s Corp. (a) (b) ...... 599,649 9,888,212 Broadstone Net Lease, Inc. (b) ...... 149,100 3,490,431 Dine Brands Global, Inc. (a) (b) ...... 100,490 8,968,732 Independence Realty Trust, Inc...... 160,400 2,924,092 Jack in the Box, Inc. (b) ...... 68,948 7,683,565 Kite Realty Group Trust ...... 158,563 3,489,972 Texas Roadhouse, Inc...... 34,400 3,309,280 Lexington Realty Trust (b) ...... 424,900 5,077,555 42,591,091 Life Storage, Inc...... 53,250 5,716,388 National Health Investors, Inc...... 48,500 3,251,925 Household Durables—2.6% Outfront Media, Inc. (a) ...... 272,150 6,539,764 Helen of Troy, Ltd. (a) (b) ...... 56,735 12,942,388 RPT Realty ...... 243,000 3,154,140 KB Home (b) ...... 117,400 4,780,528 Spirit Realty Capital, Inc. (b) ...... 123,200 5,893,888 Leggett & Platt, Inc. (b) ...... 75,200 3,896,112 Summit Hotel Properties, Inc. (a) (b) ...... 293,100 2,734,623 Meritage Homes Corp. (a) ...... 53,800 5,061,504 Washington Real Estate Investment Trust (b) ...... 160,214 3,684,922 Tupperware Brands Corp. (a) (b) ...... 214,548 5,095,515 51,140,080 31,776,047

Food & Staples Retailing—0.9% Household Products—2.1% BJ’s Wholesale Club Holdings, Inc. (a) (b) ...... 154,933 7,371,712 Central Garden and Pet Co. (Non-Voting Shares) - Class A (a) (b) . . . 97,354 4,702,198 Performance Food Group Co. (a) ...... 71,686 3,476,054 Central Garden and Pet Co. (Voting Shares) (a) ...... 92,842 4,914,127 10,847,766 Spectrum Brands Holdings, Inc...... 197,770 16,818,361 26,434,686 Food Products—3.6% Hostess Brands, Inc. (a) (b) ...... 325,779 5,274,362 Insurance—4.7% J & J Snack Foods Corp. (b) ...... 129,368 22,563,073 American Equity Investment Life Holding Co...... 209,100 6,758,112

See accompanying notes to financial statements. BHFTI-152 Brighthouse Funds Trust I Brighthouse Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Insurance—(Continued) Multi-Utilities—0.4% CNO Financial Group, Inc. (b) ...... 82,929 $ 1,958,783 Black Hills Corp. (b) ...... 74,500 $ 4,889,435 Enstar Group, Ltd. (a) ...... 31,697 7,573,047 Hanover Insurance Group, Inc. (The) (b) ...... 118,759 16,108,471 Multiline Retail—0.2% Kemper Corp...... 51,200 3,783,680 Franchise Group, Inc. (b) ...... 87,011 3,068,878 National Western Life Group, Inc. - Class A (b) ...... 8,735 1,960,047 ProAssurance Corp. (b) ...... 149,574 3,402,809 Oil, Gas & Consumable Fuels—4.0% Selective Insurance Group, Inc. (b) ...... 104,390 8,471,248 Alto Ingredients, Inc. (a) (b) ...... 267,287 1,633,124 Stewart Information Services Corp...... 135,771 7,696,858 Berry Corp...... 221,074 1,485,617 57,713,055 CNX Resources Corp. (a) ...... 398,800 5,447,608 Delek U.S. Holdings, Inc...... 129,600 2,801,952 IT Services—1.3% Denbury, Inc. (a) (b) ...... 85,566 6,569,757 Concentrix Corp. (a) ...... 64,166 10,317,893 Devon Energy Corp...... 262,499 7,662,346 MAXIMUS, Inc...... 62,617 5,508,417 Magnolia Oil & Gas Corp. - Class A (a) (b) ...... 691,996 10,815,897 Nordic American Tankers, Ltd. (b) ...... 382,299 1,253,941 15,826,310 Renewable Energy Group, Inc. (a) (b) ...... 49,000 3,054,660 Southwestern Energy Co. (a) (b) ...... 674,803 3,826,133 Leisure Products—0.3% Whiting Petroleum Corp. (a) ...... 82,613 4,506,539 Acushnet Holdings Corp...... 74,700 3,690,180 49,057,574 Machinery—7.4% Alamo Group, Inc...... 27,094 4,136,712 Paper & Forest Products—2.1% Altra Industrial Motion Corp...... 143,200 9,310,864 Louisiana-Pacific Corp...... 203,200 12,250,928 Barnes Group, Inc...... 82,400 4,223,000 Neenah, Inc...... 163,729 8,214,284 Columbus McKinnon Corp. (b) ...... 63,739 3,074,769 Schweitzer-Mauduit International, Inc...... 141,631 5,719,060 Douglas Dynamics, Inc...... 175,910 7,157,778 26,184,272 Franklin Electric Co., Inc...... 180,360 14,540,623 ITT, Inc...... 116,800 10,697,712 Personal Products—0.2% Kadant, Inc. (b) ...... 37,733 6,644,404 Edgewell Personal Care Co...... 60,612 2,660,867 Mayville Engineering Co., Inc. (a) ...... 91,693 1,843,946 Mueller Industries, Inc...... 351,370 15,217,835 Pharmaceuticals—0.4% NN, Inc. (a) (b) ...... 127,917 940,190 Prestige Consumer Healthcare, Inc. (a) (b) ...... 94,187 4,907,143 Rexnord Corp...... 129,900 6,500,196 SPX Corp. (a) ...... 5,236 319,815 Professional Services—1.5% TriMas Corp. (a) (b) ...... 217,556 6,598,474 CBIZ, Inc. (a) (b) ...... 180,319 5,909,054 91,206,318 KBR, Inc...... 106,160 4,050,004 Korn Ferry ...... 115,229 8,359,864 Marine—0.3% 18,318,922 Kirby Corp. (a) ...... 63,200 3,832,448 Road & Rail—1.1% Media—0.7% Saia, Inc. (a) ...... 12,800 2,681,472 Cable One, Inc...... 1,900 3,634,339 Werner Enterprises, Inc...... 253,700 11,294,724 DallasNews Corp...... 46,823 348,363 13,976,196 TEGNA, Inc...... 262,600 4,926,376 8,909,078 Semiconductors & Semiconductor Equipment—2.7% Brooks Automation, Inc...... 42,430 4,042,731 Metals & Mining—0.6% Cirrus Logic, Inc. (a) ...... 60,200 5,124,224 Arconic Corp. (a) ...... 117,400 4,181,788 Diodes, Inc. (a) ...... 41,800 3,334,386 Compass Minerals International, Inc. (b) ...... 60,950 3,611,897 DSP Group, Inc. (a) ...... 101,544 1,502,851 7,793,685 ON Semiconductor Corp. (a) ...... 164,200 6,285,576 Teradyne, Inc...... 50,700 6,791,772 Mortgage Real Estate Investment Trusts—1.0% Tower Semiconductor, Ltd. (U.S. Listed Shares) (a) ...... 191,500 5,635,845 Apollo Commercial Real Estate Finance, Inc. (b) ...... 224,639 3,582,992 32,717,385 New York Mortgage Trust, Inc...... 638,514 2,854,158 Two Harbors Investment Corp. (b) ...... 814,843 6,160,213 Software—0.2% 12,597,363 Synchronoss Technologies, Inc. (a) ...... 304,218 1,092,142

See accompanying notes to financial statements. BHFTI-153 Brighthouse Funds Trust I Brighthouse Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued) Securities Lending Reinvestments (d)—16.1%

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Software—(Continued) Certificates of Deposit—4.4% Telos Corp. (a) ...... 35,170 $ 1,196,132 Agricultural Bank of China 2,288,274 0.100%, 07/01/21 ...... 700,000 $ 699,999 Bank of Montreal Special Purpose Acquisition Companies—1.7% Zero Coupon, 09/20/21 ...... 1,998,967 1,999,360 Empower, Ltd. - Class A (a) ...... 587,989 5,885,770 Bank of Montreal (Chicago) Landcadia Holdings III, Inc. † (a) (c) ...... 502,200 5,604,552 0.176%, 1M BSBY + 0.120%, 12/01/21 (e) ...... 2,000,000 2,000,025 Landcadia Holdings III, Inc. - Class A (a) (b) ...... 61,952 768,205 Barclays Bank plc Mason Industrial Technology, Inc. (a) ...... 164,000 1,651,480 0.100%, 09/09/21 ...... 6,000,000 5,999,526 Pershing Square Tontine Holdings, Ltd. - Class A (a) (b) ...... 240,596 5,475,965 Cooperatieve Rabobank UA Pine Island Acquisition Corp. (a) ...... 143,671 1,453,950 0.228%, 3M LIBOR + 0.040%, 01/11/22 (e) ...... 4,000,000 4,001,160 Credit Industriel et Commercial 20,839,922 Zero Coupon, 10/12/21 ...... 4,997,780 4,997,950 Specialty Retail—0.8% Industrial & Commercial Bank of China Ltd. Aaron’s, Inc. (The) ...... 14,958 478,506 0.110%, 07/22/21 ...... 7,000,000 6,999,699 American Eagle Outfitters, Inc. (b) ...... 126,400 4,743,792 Mitsubishi UFJ Trust and Banking Corp. (London) Group 1 Automotive, Inc...... 28,600 4,416,698 Zero Coupon, 08/11/21 ...... 999,566 999,840 MUFG Bank Ltd. 9,638,996 0.170%, 07/22/21 ...... 2,000,000 2,000,060 Natixis S.A. (New York) Technology Hardware, Storage & Peripherals—0.2% 0.208%, 3M LIBOR + 0.040%, 02/11/22 (e) ...... 5,000,000 4,999,920 NCR Corp. (a) (b) ...... 52,684 2,402,917 Oversea-Chinese Banking Corp., Ltd. 0.167%, 3M LIBOR + 0.020%, 03/25/22 (e) ...... 7,000,000 7,000,028 Textiles, Apparel & Luxury Goods—1.2% Sumitomo Mitsui Banking Corp. Delta Apparel, Inc. (a) (b) ...... 64,202 1,895,243 0.158%, 3M LIBOR + 0.030%, 09/10/21 (e) ...... 5,000,000 5,000,120 Steven Madden, Ltd...... 201,017 8,796,504 Sumitomo Mitsui Trust Bank (London) Wolverine World Wide, Inc...... 132,588 4,460,260 Zero Coupon, 09/01/21 ...... 2,998,527 2,999,250 15,152,007 Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 08/09/21 ...... 4,996,613 4,999,250 Thrifts & Mortgage Finance—0.1% Essent Group, Ltd...... 40,900 1,838,455 54,696,187

Trading Companies & Distributors—1.2% Commercial Paper—0.4% Air Lease Corp...... 61,171 2,553,278 Antalis S.A. Custom Truck One Source, Inc. (a) (b) ...... 78,876 750,899 0.170%, 09/01/21 ...... 4,997,497 4,998,395 H&E Equipment Services, Inc. (b) ...... 75,400 2,508,558 WESCO International, Inc. (a) ...... 82,900 8,523,778 Repurchase Agreements—7.5% Barclays Bank plc 14,336,513 Repurchase Agreement dated 06/30/21 at 0.200%, due on Total Common Stocks 07/01/21 with a maturity value of $5,700,032; collateralized (Cost $851,136,643) ...... 1,219,921,184 by various Common Stock with an aggregate market value of $6,333,819...... 5,700,000 5,700,000 Short-Term Investment—1.4% Barclays Capital, Inc. Repurchase Agreement dated 06/30/21 at 0.030%, due on Repurchase Agreement—1.4% 07/01/21 with a maturity value of $4,704,478; collateralized Fixed Income Clearing Corp. by U.S. Treasury Obligations at 0.000%, maturity dates ranging Repurchase Agreement dated 06/30/21 at 0.000%, due on from 05/15/29 - 11/15/43, and an aggregate market value 07/01/21 with a maturity value of $17,164,471; of $4,798,564...... 4,704,474 4,704,474 collateralized by U.S. Treasury Note at 0.125%, maturing BofA Securities, Inc. 06/30/23, with a market value of $17,507,835...... 17,164,471 17,164,471 Repurchase Agreement dated 06/30/21 at 0.360%, due on 08/04/21 with a maturity value of $3,001,050; collateralized Total Short-Term Investments by various Common Stock with an aggregate market value of (Cost $17,164,471) ...... 17,164,471 $3,300,001...... 3,000,000 3,000,000

See accompanying notes to financial statements. BHFTI-154 Brighthouse Funds Trust I Brighthouse Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments(c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Repurchase Agreements—(Continued) Citigroup Global Markets, Inc. Societe Generale Repurchase Agreement dated 06/30/21 at 0.430%, due on Repurchase Agreement dated 06/30/21 at 0.180%, due on 08/04/21 with a maturity value of $2,000,836; collateralized 07/01/21 with a maturity value of $27,000,135; by U.S. Treasury Obligations at 2.000%, maturing 11/30/22, collateralized by various Common Stock with an aggregate and various Common Stock with an aggregate market value of market value of $30,000,625...... 27,000,000 $ 27,000,000 $2,196,455...... 2,000,000 $ 2,000,000 Repurchase Agreement dated 06/30/21 at 0.185%, due on Repurchase Agreement dated 06/30/21 at 0.430%, due on 07/01/21 with a maturity value of $2,800,014; 08/04/21 with a maturity value of $9,003,762; collateralized collateralized by various Common Stock with an aggregate by U.S. Treasury Obligations at 0.125%, maturing 05/31/23, market value of $3,111,210...... 2,800,000 2,800,000 and various Common Stock with an aggregate market value of 93,104,474 $9,897,050...... 9,000,000 9,000,000 Deutsche Bank AG, London Time Deposits—2.0% Repurchase Agreement dated 06/30/21 at 0.170%, due on ABN AMRO Bank NV 07/01/21 with a maturity value of $1,200,006; collateralized 0.080%, 07/01/21 ...... 8,000,000 8,000,000 by U.S. Treasury and Foreign Obligations with rates ranging Landesbank Baden-Wuettertemberg (London) from 0.000% - 3.375%, maturity dates ranging from 0.130%, 07/01/21 ...... 1,200,000 1,200,000 02/01/22 - 03/11/31, and an aggregate market value of National Bank of Canada $1,224,001...... 1,200,000 1,200,000 0.130%, OBFR + 0.050%, 07/07/21 (e) ...... 5,000,000 5,000,000 Repurchase Agreement dated 06/30/21 at 0.230%, due on Rabobank (New York) 07/01/21 with a maturity value of $3,000,019; collateralized 0.050%, 07/01/21 ...... 5,000,000 5,000,000 by various Common Stock with an aggregate market value of Royal Bank of Canada $3,333,684...... 3,000,000 3,000,000 0.030%, 07/01/21 ...... 5,000,000 5,000,000 HSBC Bank plc 24,200,000 Repurchase Agreement dated 06/30/21 at 0.100%, due on 07/01/21 with a maturity value of $7,100,020; collateralized Mutual Funds—1.8% by U.S. Treasury Obligations with rates ranging from 0.099% - BlackRock Liquidity Funds FedFund, Institutional Shares 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, 0.030% (f) ...... 2,000,000 2,000,000 and an aggregate market value of $7,244,918...... 7,100,000 7,100,000 Goldman Sachs Financial Square Government Fund, Institutional Morgan Stanley Shares Repurchase Agreement dated 06/30/21 at 0.500%, due on 0.020% (f) ...... 10,000,000 10,000,000 10/04/21 with a maturity value of $3,004,000; collateralized STIT-Government & Agency Portfolio, Institutional Class by various Common Stock with an aggregate market value of 0.030% (f) ...... 10,000,000 10,000,000 $3,300,050...... 3,000,000 3,000,000 22,000,000 National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.210%, due on Total Securities Lending Reinvestments 07/07/21 with a maturity value of $20,000,817; (Cost $198,998,321) ...... 198,999,056 collateralized by various Common Stock with an aggregate Total Investments—116.5% market value of $22,222,352...... 20,000,000 20,000,000 (Cost $1,067,299,435) ...... 1,436,084,711 NBC Global Finance, Ltd. Other assets and liabilities (net)—(16.5)% ...... (203,516,916) Repurchase Agreement dated 06/30/21 at 0.245%, due on Net Assets—100.0% ...... $1,232,567,795 07/07/21 with a maturity value of $2,900,138; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, * Principal amount stated in U.S. dollars unless otherwise noted. and various Common Stock with an aggregate market value of † Restricted securities are not registered under the Securities Act of 1933 and are subject $3,222,223...... 2,900,000 2,900,000 to legal restrictions on resale. These securities generally may be resold in transactions Repurchase Agreement dated 06/30/21 at 0.260%, due on exempt from registration or to the public if the securities are subsequently registered. 07/07/21 with a maturity value of $1,700,086; collateralized Disposal of these securities may involve time-consuming negotiations and prompt sale by U.S. Treasury Obligations with rates ranging from 2.125% - at an acceptable price may be difficult. As of June 30, 2021, the market value of 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, restricted securities was $5,604,552, which is 0.5% of net assets. See details shown in and various Common Stock with an aggregate market value of the Restricted Securities table that follows. $1,889,223...... 1,700,000 1,700,000 (a) Non-income producing security.

See accompanying notes to financial statements. BHFTI-155 Brighthouse Funds Trust I Brighthouse Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

(b) All or a portion of the security was held on loan. As of June 30, 2021, the market value (e) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. of securities loaned was $195,519,122 and the collateral received consisted of cash in Maturity date shown for callable securities reflects the earliest possible call date. For the amount of $198,993,425 and non-cash collateral with a value of $102,692. The securities based on a published reference index and spread, the index and spread are cash collateral investments are disclosed in the Schedule of Investments and categorized indicated in the description above. For certain variable rate securities, the coupon rate is as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. determined by the issuer/agent based on current market conditions. For certain asset- government securities that are held in safe-keeping by the lending agent, or a third- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral underlying collateral or prepayments of principal. These securities do not indicate a is excluded from the Statement of Assets and Liabilities. reference index and spread in their description above. (c) Security was valued in good faith under procedures approved by the Board of Trustees. (f) The rate shown represents the annualized seven-day yield as of June 30, 2021. As of June 30, 2021, these securities represent 0.5% of net assets. (d) Represents investment of cash collateral received from securities on loan as of June 30, 2021.

Acquisition Restricted Securities Date Shares Cost Value Landcadia Holdings III, Inc...... 01/25/21 502,200 $5,022,000 $5,604,552

Glossary of Abbreviations

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

See accompanying notes to financial statements. BHFTI-156 Brighthouse Funds Trust I Clarion Global Real Estate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—99.0% of Net Assets

Security Description Shares Value Security Description Shares Value

Australia—5.0% Japan—(Continued) Dexus (REIT) ...... 1,997,825 $ 15,926,853 Kenedix Office Investment Corp. (REIT) ...... 1,762 $ 12,416,839 Goodman Group (REIT) ...... 632,184 9,988,536 Kenedix Residential Next Investment Corp. (REIT) ...... 2,968 6,413,936 Ingenia Communities Group (REIT) ...... 1,020,750 4,682,704 Kenedix Retail REIT Corp. (REIT) ...... 1,487 4,021,829 Lend Lease Group ...... 692,692 5,954,506 LaSalle Logiport (REIT) ...... 12,100 20,469,484 Lifestyle Communities, Ltd...... 700,399 8,200,450 Mitsui Fudosan Co., Ltd...... 1,118,568 25,896,539 Mirvac Group (REIT) ...... 5,221,386 11,381,705 Nomura Real Estate Holdings, Inc...... 500,300 12,687,708 Vicinity Centres (REIT) ...... 8,769,269 10,118,980 Orix JREIT, Inc. (REIT) ...... 8,779 16,891,470 66,253,734 Sankei Real Estate, Inc. (REIT) ...... 6,970 8,399,231 SOSiLA Logistics REIT, Inc. (REIT) ...... 3,240 4,587,343 Belgium—1.2% Tokyu Fudosan Holdings Corp...... 2,117,100 12,725,217 Montea CVA (REIT) ...... 38,947 4,580,953 135,083,295 Shurgard Self Storage S.A...... 138,800 6,695,766 Warehouses De Pauw CVA (REIT) ...... 135,155 5,160,178 Singapore—3.0% 16,436,897 CapitaLand Mall Trust (REIT) ...... 7,385,557 11,476,564 CapitaLand, Ltd...... 4,043,429 11,169,582 Canada—1.9% City Developments, Ltd...... 1,106,296 6,006,246 Boardwalk Real Estate Investment Trust (REIT) (a) ...... 165,340 5,452,645 Keppel REIT (REIT) ...... 12,445,851 10,920,964 Canadian Apartment Properties (REIT) (a) ...... 193,800 9,086,525 39,573,356 H&R Real Estate Investment Trust (REIT) (a) ...... 813,372 10,498,509 25,037,679 Sweden—2.2% Castellum AB (a) ...... 314,387 8,002,591 Finland—0.6% Catena AB ...... 175,670 9,406,327 Kojamo Oyj ...... 348,853 7,971,657 Kungsleden AB ...... 545,051 6,598,611 Nyfosa AB ...... 374,902 5,064,845 France—1.8% 29,072,374 Covivio (REIT) ...... 84,876 7,261,286 Mercialys S.A. (REIT) ...... 690,899 8,368,389 United Kingdom—4.8% Unibail-Rodamco-Westfield (REIT) (b) ...... 100,895 8,738,940 Big Yellow Group plc (REIT) ...... 339,524 6,140,694 24,368,615 Derwent London plc (REIT) ...... 192,038 8,789,793 Grainger plc ...... 1,575,302 6,214,749 Germany—6.0% Land Securities Group plc (REIT) ...... 1,233,354 11,540,226 ADO Properties S.A...... 237,304 6,243,814 Safestore Holdings plc (REIT) ...... 587,993 7,706,079 Aroundtown S.A...... 1,650,227 12,857,047 Segro plc (REIT) ...... 912,703 13,827,863 Deutsche Euroshop AG ...... 286,405 6,792,992 Tritax Big Box REIT plc (REIT) ...... 3,371,452 9,161,094 Grand City Properties S.A...... 274,934 7,427,195 63,380,498 LEG Immobilien AG ...... 81,448 11,734,763 Vonovia SE ...... 528,699 34,212,590 United States—55.6% 79,268,401 Acadia Realty Trust (REIT) (a) ...... 298,184 6,548,121 Alexandria Real Estate Equities, Inc. (REIT) (a) ...... 150,861 27,447,650 Hong Kong—6.5% American Tower Corp. (REIT) (a) ...... 99,682 26,928,096 CK Asset Holdings, Ltd...... 2,776,819 19,169,468 Apartment Income REIT Corp. (REIT) ...... 394,559 18,713,933 Hongkong Land Holdings, Ltd...... 1,417,931 6,754,561 Brandywine Realty Trust (REIT) (a) ...... 510,282 6,995,966 Kerry Properties, Ltd...... 1,795,122 5,918,772 Brixmor Property Group, Inc. (REIT) ...... 722,035 16,527,381 Link REIT (The) (REIT) ...... 2,500,564 24,193,462 Camden Property Trust (REIT) (a) ...... 276,118 36,632,575 Sun Hung Kai Properties, Ltd...... 1,272,398 18,960,685 Columbia Property Trust, Inc. (REIT) ...... 364,162 6,332,777 Swire Properties, Ltd...... 4,061,148 12,108,700 Crown Castle International Corp. (REIT) ...... 74,682 14,570,458 CubeSmart (REIT) (a) ...... 555,231 25,718,300 87,105,648 Duke Realty Corp. (REIT) (a) ...... 938,995 44,461,413 Extra Space Storage, Inc. (REIT) ...... 320,407 52,489,075 Ireland—0.2% Healthcare Trust of America, Inc. (REIT) - Class A (a) ...... 656,615 17,531,621 Hibernia REIT plc (REIT) ...... 2,250,746 3,309,852 Host Hotels & Resorts, Inc. (REIT) (a) (b) ...... 619,143 10,581,154 Hudson Pacific Properties, Inc. (REIT) (a) ...... 440,351 12,250,565 Japan—10.2% Invitation Homes, Inc. (REIT) ...... 1,083,032 40,386,263 AEON REIT Investment Corp. (REIT) ...... 3,815 5,649,621 Life Storage, Inc. (REIT) ...... 89,001 9,554,257 Hulic Reit, Inc. (REIT) ...... 2,924 4,924,078 MGM Growth Properties LLC (REIT) - Class A ...... 289,181 10,589,808

See accompanying notes to financial statements. BHFTI-157 Brighthouse Funds Trust I Clarion Global Real Estate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Principal Security Description Amount Value Security Description Amount* Value

United States—(Continued) Repurchase Agreements—(Continued) Mid-America Apartment Communities, Inc. (REIT) ...... 305,177 $ 51,397,910 Barclays Bank plc National Retail Properties, Inc. (REIT) ...... 112,810 5,288,533 Repurchase Agreement dated 06/30/21 at 0.360%, due on Pebblebrook Hotel Trust (REIT) (a) ...... 463,695 10,920,017 08/04/21 with a maturity value of $3,001,050; Piedmont Office Realty Trust, Inc. (REIT) - Class A ...... 401,353 7,412,990 collateralized by various Common Stock with an aggregate ProLogis, Inc. (REIT) ...... 809,013 96,701,324 market value of $3,334,004...... 3,000,000 $ 3,000,000 Simon Property Group, Inc. (REIT) (a) ...... 600,615 78,368,245 Barclays Capital, Inc. SITE Centers Corp. (REIT) ...... 613,116 9,233,527 Repurchase Agreement dated 06/30/21 at 0.030%, due on Spirit Realty Capital, Inc. (REIT) ...... 338,400 16,189,056 07/01/21 with a maturity value of $4,161,535; Sunstone Hotel Investors, Inc. (REIT) (b) ...... 616,933 7,662,308 collateralized by U.S. Treasury Obligations at 0.000%, Ventas, Inc. (REIT) ...... 278,758 15,917,082 maturity dates ranging from 05/15/29 - 11/15/43, and an VEREIT, Inc. (REIT) ...... 619,366 28,447,481 aggregate market value of $4,244,763...... 4,161,532 4,161,532 Welltower, Inc. (REIT) (a) ...... 329,451 27,377,378 BofA Securities, Inc. 739,175,264 Repurchase Agreement dated 06/30/21 at 0.360%, due on 08/04/21 with a maturity value of $2,000,700; Total Common Stocks collateralized by various Common Stock with an aggregate (Cost $1,085,181,716) ...... 1,316,037,270 market value of $2,200,000...... 2,000,000 2,000,000 Citigroup Global Markets, Inc. Short-Term Investment—0.1% Repurchase Agreement dated 06/30/21 at 0.430%, due on 08/04/21 with a maturity value of $2,000,836; Repurchase Agreement—0.1% collateralized by U.S. Treasury Obligations at 0.125%, Fixed Income Clearing Corp. maturing 05/31/23, and various Common Stock with an Repurchase Agreement dated 06/30/21 at 0.000%, due on aggregate market value of $2,199,056...... 2,000,000 2,000,000 07/01/21 with a maturity value of $1,136,904; Deutsche Bank AG, London collateralized by U.S. Treasury Note at 2.625%, maturing Repurchase Agreement dated 06/30/21 at 0.170%, due on 12/31/23, with a market value of $1,159,660...... 1,136,904 1,136,904 07/01/21 with a maturity value of $1,200,006; collateralized by U.S. Treasury and Foreign Obligations with Total Short-Term Investments rates ranging from 0.000% - 3.375%, maturity dates ranging (Cost $1,136,904) ...... 1,136,904 from 02/01/22 - 03/11/31, and an aggregate market value of $1,224,001...... 1,200,000 1,200,000 Securities Lending Reinvestments (c)—7.3% Repurchase Agreement dated 06/30/21 at 0.230%, due on 07/01/21 with a maturity value of $10,000,064; Certificates of Deposit—0.5% collateralized by various Common Stock with an aggregate Agricultural Bank of China Ltd. market value of $11,112,278...... 10,000,000 10,000,000 0.100%, 07/01/21 ...... 300,000 300,000 HSBC Bank plc Industrial & Commercial Bank of China Ltd. Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.110%, 07/22/21 ...... 1,000,000 999,957 07/01/21 with a maturity value of $7,400,021; Mizuho Bank, Ltd. collateralized by U.S. Treasury Obligations with rates ranging 0.200%, 09/14/21 ...... 2,000,000 2,000,252 from 0.099% - 6.125%, maturity dates ranging from Oversea-Chinese Banking Corp., Ltd. 08/31/21 - 02/15/50, and an aggregate market value of 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 1,000,000 1,000,004 $7,551,042...... 7,400,000 7,400,000 Sumitomo Mitsui Trust Bank, Ltd. Morgan Stanley Zero Coupon, 09/14/21 ...... 999,471 999,700 Repurchase Agreement dated 06/30/21 at 0.500%, due on Toronto-Dominion Bank 10/04/21 with a maturity value of $3,004,000; 0.330%, 3M LIBOR + 0.130%, 07/02/21 (d) ...... 2,000,000 2,000,016 collateralized by various Common Stock with an aggregate market value of $3,300,050...... 3,000,000 3,000,000 7,299,929 National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.210%, due on Repurchase Agreements—5.5% 07/07/21 with a maturity value of $8,000,327; Barclays Bank plc collateralized by various Common Stock with an aggregate Repurchase Agreement dated 06/30/21 at 0.200%, due on market value of $8,888,941...... 8,000,000 8,000,000 07/01/21 with a maturity value of $10,000,056; collateralized by various Common Stock with an aggregate market value of $11,111,963...... 10,000,000 10,000,000

See accompanying notes to financial statements. BHFTI-158 Brighthouse Funds Trust I Clarion Global Real Estate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Principal Maturity date shown for callable securities reflects the earliest possible call date. For Security Description Amount* Value 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 Repurchase Agreements—(Continued) determined by the issuer/agent based on current market conditions. For certain asset- Natwest Market Securities, Inc. and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Repurchase Agreement dated 06/30/21 at 0.050%, due on underlying collateral or prepayments of principal. These securities do not indicate a 07/01/21 with a maturity value of $12,000,017; reference index and spread in their description above. collateralized by U.S. Treasury Obligations with rates ranging (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. from 1.250% - 8.125%, maturity dates ranging from 08/15/21 - 05/15/51, and an aggregate market value of Ten Largest Industries as of %of $12,240,017...... 12,000,000 $ 12,000,000 June 30, 2021 (Unaudited) Net Assets Societe Generale Industrial REIT’s ...... 15.7 Repurchase Agreement dated 06/30/21 at 0.180%, due on Retail REIT’s ...... 15.4 07/01/21 with a maturity value of $10,000,050; Residential REIT’s ...... 13.0 collateralized by various Common Stock with an aggregate Real Estate Operating Companies ...... 11.1 market value of $11,111,343...... 10,000,000 10,000,000 Office REIT’s ...... 10.9 72,761,532 Specialized REIT’s ...... 10.8 Diversified Real Estate Activities ...... 7.5 Time Deposits—0.6% Diversified REIT’s ...... 5.0 ABN AMRO Bank NV Health Care REITs ...... 4.6 0.080%, 07/01/21 ...... 4,000,000 4,000,000 Hotel & Resort REITs ...... 3.0 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 600,000 600,000 0.130%, 07/01/21 ...... 2,000,000 2,000,000 Glossary of Abbreviations National Bank of Canada 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 1,000,000 1,000,000 Index Abbreviations (LIBOR)— London Interbank Offered Rate 7,600,000 (OBFR)— U.S. Overnight Bank Funding Rate

Mutual Funds—0.7% Other Abbreviations STIT-Government & Agency Portfolio, Institutional Class 0.030% (e) ...... 10,000,000 10,000,000 (REIT)— Real Estate Investment Trust Total Securities Lending Reinvestments (Cost $97,661,178) ...... 97,661,461 Total Investments—106.4% (Cost $1,183,979,798) ...... 1,414,835,635 Other assets and liabilities (net)—(6.4)% ...... (85,264,870) Net Assets—100.0% ...... $1,329,570,765

* Principal amount stated in U.S. dollars unless otherwise noted. (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value of securities loaned was $98,839,442 and the collateral received consisted of cash in the amount of $97,661,003 and non-cash collateral with a value of $5,636,831. 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. As such, this collateral is excluded from the Statement of Assets and Liabilities. (b) Non-income producing security. (c) Represents investment of cash collateral received from securities on loan as of June 30, 2021.

See accompanying notes to financial statements. BHFTI-159 Brighthouse Funds Trust I Clarion Global Real Estate Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Australia ...... $ — $ 66,253,734 $— $ 66,253,734 Belgium ...... — 16,436,897 — 16,436,897 Canada ...... 25,037,679 — — 25,037,679 Finland ...... — 7,971,657 — 7,971,657 France ...... — 24,368,615 — 24,368,615 Germany ...... — 79,268,401 — 79,268,401 Hong Kong ...... — 87,105,648 — 87,105,648 Ireland ...... — 3,309,852 — 3,309,852 Japan ...... — 135,083,295 — 135,083,295 Singapore ...... — 39,573,356 — 39,573,356 Sweden ...... — 29,072,374 — 29,072,374 United Kingdom ...... — 63,380,498 — 63,380,498 United States ...... 739,175,264 — — 739,175,264 Total Common Stocks ...... 764,212,943 551,824,327 — 1,316,037,270 Total Short-Term Investment* ...... — 1,136,904 — 1,136,904 Securities Lending Reinvestments Certificates of Deposit ...... — 7,299,929 — 7,299,929 Repurchase Agreements ...... — 72,761,532 — 72,761,532 Time Deposits ...... — 7,600,000 — 7,600,000 Mutual Funds ...... 10,000,000 — — 10,000,000 Total Securities Lending Reinvestments ...... 10,000,000 87,661,461 — 97,661,461 Total Investments ...... $774,212,943 $640,622,692 $— $1,414,835,635 Collateral for Securities Loaned (Liability) ...... $ — $(97,661,003) $— $ (97,661,003)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-160 Brighthouse Funds Trust I Harris Oakmark International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—96.8% of Net Assets

Security Description Shares Value Security Description Shares Value

Australia—2.7% Italy—4.0% AMP, Ltd...... 21,605,870 $ 18,285,938 Intesa Sanpaolo S.p.A...... 45,712,000 $ 126,167,642 Brambles, Ltd...... 3,276,500 28,106,481 Orica, Ltd...... 3,994,926 39,805,275 Japan—2.2% Komatsu, Ltd...... 812,800 20,194,680 86,197,694 Toyota Motor Corp...... 554,300 48,389,068

Belgium—1.3% 68,583,748 Anheuser-Busch InBev S.A...... 556,600 40,083,132 Mexico—1.5% Canada—3.4% Grupo Televisa S.A.B. (ADR) ...... 3,356,608 47,932,362 Cenovus Energy, Inc...... 4,333,765 41,463,740 Netherlands—1.8% Open Text Corp. (a) ...... 860,400 43,693,272 EXOR NV ...... 715,684 57,282,131 Restaurant Brands International, Inc...... 339,520 21,878,669 107,035,681 South Africa—2.6% Naspers, Ltd. - N Shares ...... 388,208 81,552,252 China—1.9% Alibaba Group Holding, Ltd. (b) ...... 1,036,800 29,375,450 South Korea—1.4% Alibaba Group Holding, Ltd. (ADR) (b) ...... 128,800 29,209,264 NAVER Corp...... 112,400 41,680,085 Samsung Electronics Co., Ltd...... 13,450 964,034 58,584,714 42,644,119 Finland—0.9% UPM-Kymmene Oyj ...... 757,600 28,660,642 Spain—1.3% Amadeus IT Group S.A. (b) ...... 579,500 40,754,101 France—11.4% Accor S.A. (b) ...... 1,780,626 66,534,881 Sweden—3.8% H & M Hennes & Mauritz AB - B Shares (b) ...... 2,083,000 49,430,115 BNP Paribas S.A...... 1,812,275 113,492,079 SKF AB - B Shares ...... 1,325,390 33,764,759 Capgemini SE ...... 191,300 36,785,201 Volvo AB - B Shares (a) ...... 1,526,491 36,743,265 Danone S.A...... 496,900 34,981,965 EssilorLuxottica S.A. (a) ...... 103,084 19,034,193 119,938,139 Publicis Groupe S.A. (a) ...... 748,438 47,894,748 Valeo S.A...... 1,316,800 39,659,551 Switzerland—12.7% Cie Financiere Richemont S.A. - Class A ...... 212,236 25,695,863 358,382,618 Credit Suisse Group AG ...... 9,862,354 103,221,651 Glencore plc ...... 24,821,165 106,293,556 Germany—24.9% Holcim, Ltd...... 718,848 43,128,367 Allianz SE ...... 439,500 109,583,203 Novartis AG ...... 580,500 52,909,553 Bayer AG ...... 1,940,760 117,885,052 Roche Holding AG ...... 117,200 44,169,235 Bayer AG (London Traded Shares) ...... 6,400 389,584 Swatch Group AG (The) - Bearer Shares ...... 65,475 22,472,697 Bayerische Motoren Werke AG ...... 1,106,007 117,165,473 397,890,922 Continental AG (b) ...... 696,590 102,435,726 Daimler AG ...... 1,274,293 113,832,961 United Kingdom—17.2% Fresenius Medical Care AG & Co. KGaA ...... 877,200 72,867,871 Bunzl plc ...... 371,320 12,278,339 Fresenius Medical Care AG & Co. KGaA (London Traded Shares) . . 6,400 533,796 CNH Industrial NV ...... 5,624,673 92,934,965 Fresenius SE & Co. KGaA ...... 380,100 19,833,802 Compass Group plc (b) ...... 1,241,229 26,178,847 Henkel AG & Co. KGaA ...... 174,509 16,067,477 Liberty Global plc - Class A (b) ...... 1,797,200 48,811,952 SAPSE...... 393,500 55,521,847 Liberty Global plc - Class C (b) ...... 580,456 15,695,530 Lloyds Banking Group plc ...... 203,390,200 131,575,137 ThyssenKrupp AG (b) ...... 5,168,000 53,865,763 Natwest Group plc ...... 18,400,101 51,702,138 ThyssenKrupp AG (b) ...... 8,700 90,317 Prudential plc ...... 2,159,000 40,964,524 780,072,872 Rolls-Royce Holdings plc (b) ...... 12,708,665 17,434,897 Schroders plc ...... 854,084 41,557,286 Indonesia—0.5% Smiths Group plc ...... 836,809 18,437,361 Bank Mandiri Persero Tbk PT ...... 36,749,000 14,923,090 WPPplc...... 3,010,955 40,762,034 538,333,010 Ireland—1.3% Total Common Stocks Ryanair Holdings plc (ADR) (b) ...... 368,468 39,871,922 (Cost $2,442,654,278) ...... 3,034,890,791

See accompanying notes to financial statements. BHFTI-161 Brighthouse Funds Trust I Harris Oakmark International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Convertible Bonds—0.3%

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Switzerland—0.3% Repurchase Agreements—(Continued) Credit Suisse Group Guernsey VII, Ltd. National Bank of Canada 3.000%, 11/12/21 (CHF) (144A) Repurchase Agreement dated 06/30/21 at 0.210%, due on (Cost $8,601,602) ...... 7,835,000 $ 9,486,632 07/07/21 with a maturity value of $10,000,408; collateralized by various Common Stock with an aggregate Preferred Stock—0.3% market value of $11,111,176...... 10,000,000 $ 10,000,000 Societe Generale Repurchase Agreement dated 06/30/21 at 0.185%, due on Germany—0.3% 07/01/21 with a maturity value of $5,000,026; Henkel AG & Co. KGaA collateralized by various Common Stock with an aggregate (Cost $8,871,572) ...... 85,300 9,005,923 market value of $5,555,732...... 5,000,000 5,000,000 31,085,683 Short-Term Investment—2.3% Time Deposits—0.1% Repurchase Agreement—2.3% Landesbank Baden-Wuettertemberg (London) Fixed Income Clearing Corp. 0.130%, 07/01/21 ...... 400,000 400,000 Repurchase Agreement dated 06/30/21 at 0.000%, due on Rabobank (New York) 07/01/21 with a maturity value of $70,789,362; 0.050%, 07/01/21 ...... 2,000,000 2,000,000 collateralized by U.S. Treasury Note at 0.250%, maturing 01/15/25, with a market value of $72,205,208...... 70,789,362 70,789,362 2,400,000

Total Short-Term Investments Mutual Funds—0.8% (Cost $70,789,362) ...... 70,789,362 BlackRock Liquidity Funds FedFund, Institutional Shares 0.030% (d) ...... 11,000,000 11,000,000 Securities Lending Reinvestments (c)—1.9% Goldman Sachs Financial Square Government Fund, Institutional Shares Repurchase Agreements—1.0% 0.020% (d) ...... 5,000,000 5,000,000 Barclays Bank plc STIT-Government & Agency Portfolio, Institutional Class Repurchase Agreement dated 06/30/21 at 0.200%, due on 0.030% (d) ...... 10,000,000 10,000,000 07/01/21 with a maturity value of $3,200,018; 26,000,000 collateralized by various Common Stock with an aggregate market value of $3,555,828...... 3,200,000 3,200,000 Total Securities Lending Reinvestments Barclays Capital, Inc. (Cost $59,485,683) ...... 59,485,683 Repurchase Agreement dated 06/30/21 at 0.030%, due on Total Investments—101.6% 07/01/21 with a maturity value of $5,585,688; (Cost $2,590,402,497) ...... 3,183,658,391 collateralized by U.S. Treasury Obligations at 0.000%, Other assets and liabilities (net)—(1.6)% ...... (49,245,914) maturity dates ranging from 05/15/29 - 11/15/43, and an Net Assets—100.0% ...... $3,134,412,477 aggregate market value of $5,697,397...... 5,585,683 5,585,683 Deutsche Bank AG, London Repurchase Agreement dated 06/30/21 at 0.170%, due on * Principal amount stated in U.S. dollars unless otherwise noted. 07/01/21 with a maturity value of $600,003; collateralized (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value by U.S. Treasury and Foreign Obligations with rates ranging of securities loaned was $54,562,626 and the collateral received consisted of cash in from 0.000% - 3.375%, maturity dates ranging from the amount of $59,485,684 and non-cash collateral with a value of $37,688. The cash 02/01/22 - 03/11/31, and an aggregate market value of collateral investments are disclosed in the Schedule of Investments and categorized as $612,000...... 600,000 600,000 Securities Lending Reinvestments. The non-cash collateral received consists of U.S. Repurchase Agreement dated 06/30/21 at 0.230%, due on government securities that are held in safe-keeping by the lending agent, or a third- 07/01/21 with a maturity value of $3,000,019; party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral collateralized by various Common Stock with an aggregate is excluded from the Statement of Assets and Liabilities. market value of $3,333,684...... 3,000,000 3,000,000 (b) Non-income producing security. HSBC Bank plc (c) Represents investment of cash collateral received from securities on loan as of June 30, Repurchase Agreement dated 06/30/21 at 0.100%, due on 2021. 07/01/21 with a maturity value of $3,700,010; (d) The rate shown represents the annualized seven-day yield as of June 30, 2021. collateralized by U.S. Treasury Obligations with rates ranging (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. from 0.099% - 6.125%, maturity dates ranging from These securities may be resold in transactions exempt from registration, normally to 08/31/21 - 02/15/50, and an aggregate market value of qualified institutional buyers. As of June 30, 2021, the market value of 144A securities $3,775,521...... 3,700,000 3,700,000 was $9,486,632, which is 0.3% of net assets.

See accompanying notes to financial statements. BHFTI-162 Brighthouse Funds Trust I Harris Oakmark International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Ten Largest Industries as of %of June 30, 2021 (Unaudited) Net Assets Banks ...... 14.3 Automobiles ...... 8.9 Pharmaceuticals ...... 6.9 Machinery ...... 5.9 Metals & Mining ...... 5.1 Insurance ...... 4.8 Capital Markets ...... 4.6 Auto Components ...... 4.5 Internet & Direct Marketing Retail ...... 4.5 Media ...... 4.3

Forward Foreign Currency Exchange Contracts Settlement In Exchange Unrealized Contracts to Deliver Counterparty Date for Appreciation CHF 35,086,000 SSBT ...... 12/15/21 USD 39,208,324 $1,110,807

Glossary of Abbreviations

Counterparties (SSBT)— State Street Bank and Trust Co.

Currencies (CHF)— Swiss Franc (USD)— United States Dollar

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-163 Brighthouse Funds Trust I Harris Oakmark International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Australia ...... $ — $ 86,197,694 $— $ 86,197,694 Belgium ...... — 40,083,132 — 40,083,132 Canada ...... 107,035,681 — — 107,035,681 China ...... 29,209,264 29,375,450 — 58,584,714 Finland ...... — 28,660,642 — 28,660,642 France ...... 192,240 358,190,378 — 358,382,618 Germany ...... 624,113 779,448,759 — 780,072,872 Indonesia ...... — 14,923,090 — 14,923,090 Ireland ...... 39,871,922 — — 39,871,922 Italy ...... — 126,167,642 — 126,167,642 Japan ...... — 68,583,748 — 68,583,748 Mexico ...... 47,932,362 — — 47,932,362 Netherlands ...... — 57,282,131 — 57,282,131 South Africa ...... — 81,552,252 — 81,552,252 South Korea ...... — 42,644,119 — 42,644,119 Spain ...... — 40,754,101 — 40,754,101 Sweden ...... — 119,938,139 — 119,938,139 Switzerland ...... — 397,890,922 — 397,890,922 United Kingdom ...... 64,507,482 473,825,528 — 538,333,010 Total Common Stocks ...... 289,373,064 2,745,517,727 — 3,034,890,791 Total Convertible Bonds* ...... — 9,486,632 — 9,486,632 Total Preferred Stock* ...... — 9,005,923 — 9,005,923 Total Short-Term Investment* ...... — 70,789,362 — 70,789,362 Securities Lending Reinvestments Repurchase Agreements ...... — 31,085,683 — 31,085,683 Time Deposits ...... — 2,400,000 — 2,400,000 Mutual Funds ...... 26,000,000 — — 26,000,000 Total Securities Lending Reinvestments ...... 26,000,000 33,485,683 — 59,485,683 Total Investments ...... $315,373,064 $2,868,285,327 $— $3,183,658,391 Collateral for Securities Loaned (Liability) ...... $ — $ (59,485,684) $— $ (59,485,684) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 1,110,807 $— $ 1,110,807

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-164 Brighthouse Funds Trust I Invesco Balanced-Risk Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—4.1% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

U.S. Treasury—4.1% Commercial Paper—(Continued) U.S. Treasury Floating Rate Notes Barclays Bank plc 0.105%, 3M USTBMM + 0.055%, 07/31/22 (a) ...... 31,000,000 $ 31,017,229 Zero Coupon, 08/09/21 ...... 23,000,000 $ 22,996,678 0.164%, 3M USTBMM + 0.114%, 04/30/22 (a) ...... 28,000,000 28,025,917 Bennington Stark Capital Co. LLC Total U.S. Treasury & Government Agencies 0.065%, 07/12/21 (144A) (c) ...... 15,000,000 14,999,600 (Cost $59,000,000) ...... 59,043,146 0.148%, 08/02/21 (144A) (c) ...... 10,000,000 9,999,065 Chevron Corp. 0.036%, 07/09/21 (144A) (c) ...... 20,000,000 19,999,675 Commodity-Linked Securities—3.3% Coca-Cola Co. (The) Canadian Imperial Bank of Commerce Commodity Linked 0.059%, 08/06/21 (144A) (c) ...... 10,000,000 9,999,486 Note, U.S. Federal Funds (Effective) Rate minus 0.020% Collateralized Commercial Paper Co. LLC (linked to Canadian Imperial Bank of Commerce 0.231%, 10/21/21 (144A) (c) ...... 25,000,000 24,990,976 Custom 5 Agriculture Commodity Index, CRC Funding LLC multiplied by 2), 10/22/21 (144A) (a) ...... 6,930,000 12,188,242 0.117%, 07/09/21 (144A) (c) ...... 29,500,000 29,499,462 Cargill, Inc.Commodity Linked Note, one month Credit Agricole S.A. LIBOR Rate minus 0.010% (linked to Monthly 0.390%, 07/02/21 ...... 22,000,000 22,000,366 Rebalance Commodity Excess Return Index, Dexia Credit Local S.A. multiplied by 2), 05/31/22 (144A) (a) ...... 17,770,000 19,066,449 0.135%, 07/21/21 (144A) (c) ...... 32,000,000 31,998,432 Royal Bank of Canada Commodity Linked Note, U.S. Exxon Mobil Corp. Federal Funds (Effective) Rate minus 0.040% (linked to 0.054%, 07/28/21 (c) ...... 30,500,000 30,498,577 Royal Bank of Canada Enhanced Agriculture Basket 04 Excess FMS Wertmanagement Return Index, multiplied by 2), 10/28/21 (144A) (a) ..... 9,500,000 16,359,824 0.084%, 08/13/21 (144A) (c) ...... 25,000,000 24,997,250 0.100%, 09/24/21 (144A) (c) ...... 15,000,000 14,996,452 Total Commodity-Linked Securities ING U.S. Funding LLC (Cost $34,200,000) ...... 47,614,515 0.181%, 09/27/21 (c) ...... 10,000,000 9,997,528 Johnson & Johnson Municipals—1.7% 0.030%, 09/20/21 (144A) (c) ...... 25,000,000 24,997,323 Kimberly-Clark Corp. Maumelle Arkansas Industrial Development, Revenue Bond 0.058%, 07/19/21 (144A) (c) ...... 25,000,000 24,998,905 0.050%, 08/01/45 (144A) (a) ...... 20,000,000 20,000,000 Lexington Parker Capital Co. LLC Metropolitan Washington Airports Authority 0.161%, 07/15/21 (144A) (c) ...... 10,000,000 9,999,667 0.020%, 10/01/40 (a) ...... 5,000,000 5,000,000 LMA S.A. & LMA Americas, Corp. Total Municipals 0.121%, 10/14/21 (c) ...... 15,000,000 14,994,479 (Cost $25,000,000) ...... 25,000,000 LVMH Moet Hennessy Louis Vuitton SE 0.090%, 09/20/21 (144A) (c) ...... 8,200,000 8,197,777 Short-Term Investments—84.8% 0.090%, 09/27/21 (144A) (c) ...... 30,000,000 29,990,432 Natixis S.A. 0.186%, 3M LIBOR + 0.030%, 11/15/21 (a) ...... 15,000,000 15,000,558 Certificate of Deposit—2.6% Nestle Finance International, Ltd. Bank of Montreal (Chicago) Zero Coupon, 07/29/21 (144A) ...... 20,000,000 19,999,194 0.210%, SOFR + 0.160%, 03/16/22 (a) ...... 8,500,000 8,501,593 0.029%, 07/19/21 (144A) (c) ...... 25,000,000 24,999,340 0.230%, 05/10/22 ...... 20,000,000 20,005,387 New York Life Capital Corp. Svenska Handelsbanken (NY) 0.060%, 09/01/21 (144A) (c) ...... 31,000,000 30,995,606 0.278%, 3M LIBOR + 0.090%, 07/20/21 (a) ...... 9,000,000 9,000,666 NRW. Bank 37,507,646 0.066%, 07/15/21 (144A) (c) ...... 30,000,000 29,999,125 Old Line Funding LLC Commercial Paper—59.3% 0.190%, 09/10/21 (144A) (c) ...... 35,000,000 34,992,720 Anglesea Funding LLC Oversea-Chinese Banking Corp., Ltd. 0.220%, OBFR + 0.140%, 11/19/21 (a) (b) ...... 25,000,000 25,000,000 0.080%, 09/09/21 ...... 30,000,000 29,997,988 Apple, Inc PACCAR Financial Corp. Zero Coupon, 07/01/21 (144A) ...... 19,000,000 18,999,979 0.048%, 07/20/21 (c) ...... 3,800,000 3,799,825 Zero Coupon, 07/27/21 (144A) ...... 16,000,000 15,999,400 Pacific Life Insurance Co. 0.039%, 07/29/21 (144A) (c) ...... 5,000,000 4,999,799 0.159%, 08/26/21 (144A) (c) ...... 1,500,000 1,499,791 Bank of Nova Scotia Ridgefield Funding Co. LLC 0.212%, 3M LIBOR + 0.050%, 11/09/21 (a) ...... 23,000,000 23,004,087 0.181%, 11/08/21 (144A) (c) ...... 25,000,000 24,988,355 Banque et Caisse d’Epargne de L’Etat Shell International Finance B.V. 0.129%, 08/16/21 (c) ...... 22,000,000 21,997,702 0.070%, 10/01/21 (144A) (c) ...... 7,000,000 6,997,830 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-165 Brighthouse Funds Trust I Invesco Balanced-Risk Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Short-Term Investments—(Continued)

Principal * Principal amount stated in U.S. dollars unless otherwise noted. Amount*/ (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Security Description Shares Value 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 Commercial Paper—(Continued) indicated in the description above. For certain variable rate securities, the coupon rate is Toronto-Dominion Bank (The) determined by the issuer/agent based on current market conditions. For certain asset- 0.243%, 05/05/22 (144A) (c) ...... 15,000,000 $ 14,975,795 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the 0.267%, 3M LIBOR + 0.070%, 10/08/21 (a) ...... 12,000,000 12,000,303 underlying collateral or prepayments of principal. These securities do not indicate a Total Capital Canada, Ltd. reference index and spread in their description above. 0.099%, 08/09/21 (144A) (c) ...... 20,000,000 19,998,000 (b) Security was valued in good faith under procedures approved by the Board of Trustees. Toyota Motor Credit Corp. As of June 30, 2021, these securities represent 1.7% of net assets. 0.126%, 07/23/21 (c) ...... 35,000,000 34,998,614 (c) The rate shown represents current yield to maturity. UBS AG (d) The rate shown represents the annualized seven-day yield as of June 30, 2021. 0.239%, SOFR + 0.190%, 06/15/22 (144A) (a) ...... 10,000,000 9,999,971 (e) Affiliated Issuer. (See Note 8 of the Notes to Consolidated Financial Statements for a 0.264%, 3M LIBOR + 0.070%, 10/04/21 (144A) (a) ..... 10,000,000 10,000,234 summary of transactions in securities of affiliated issuers.) 0.356%, 3M LIBOR + 0.170%, 07/14/21 (144A) (a) ..... 8,300,000 8,300,631 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Victory Receivables Corp. These securities may be resold in transactions exempt from registration, normally to 0.070%, 09/02/21 (144A) (c) ...... 30,000,000 $ 29,994,080 qualified institutional buyers. As of June 30, 2021, the market value of 144A securities 853,691,057 was $655,018,867, which is 45.5% of net assets.

Mutual Funds—14.3% STIC (Global Series) plc—U.S. Dollar Liquidity Portfolio, Institutional Class 0.010% (d) (e) ...... 132,570,681 132,570,681 STIT-Government & Agency Portfolio, Institutional Class 0.030% (d) (e) ...... 44,297,927 44,297,927 STIT-Treasury Portfolio, Institutional Class 0.010% (d) (e) ..... 28,762,143 28,762,143 205,630,751

U.S. Treasury—8.6% U.S. Treasury Bills 0.035%, 07/15/21 (c) ...... 60,800,000 60,798,936 0.035%, 12/09/21 (c) ...... 34,500,000 34,492,028 0.087%, 07/08/21 (c) ...... 28,200,000 28,199,788 123,490,752 Total Short-Term Investments (Cost $1,220,287,454) ...... 1,220,320,206 Total Investments—93.9% (Cost $1,338,487,454) ...... 1,351,977,867 Other assets and liabilities (net)—6.1% ...... 87,304,160 Net Assets—100.0% ...... $1,439,282,027

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) Australian 10 Year Treasury Bond Futures ...... 09/15/21 2,430 AUD 343,089,246 $ 837,981 Brent Crude Oil Futures ...... 08/31/21 358 USD 26,416,820 4,577,567 Canada Government Bond 10 Year Futures ...... 09/21/21 2,027 CAD 294,969,040 1,157,246 Euro Stoxx 50 Index Futures ...... 09/17/21 1,915 EUR 77,662,825 (1,764,015) FTSE 100 Index Futures ...... 09/17/21 1,155 GBP 80,624,775 (1,617,654) Japanese Government 10 Year Bond Futures ...... 09/13/21 29 JPY 4,399,010,000 72,981 MSCI Emerging Markets Index Mini Futures ...... 09/17/21 1,575 USD 107,478,000 (758,293) New York Harbor ULSD Futures ...... 11/30/21 162 USD 14,481,634 152,244 RBOB Gasoline Futures ...... 07/30/21 284 USD 26,740,190 1,029,571 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-166 Brighthouse Funds Trust I Invesco Balanced-Risk Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts—(Continued) Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) Russell 2000 Index E-Mini Futures ...... 09/17/21 822 USD 94,850,580 $ (176,473) S&P 500 Index E-Mini Futures ...... 09/17/21 374 USD 80,196,820 1,483,679 Silver Futures ...... 09/28/21 320 USD 41,910,400 217,428 TOPIX Index Futures ...... 09/09/21 810 JPY 15,738,300,000 (1,023,300) U.S. Treasury Long Bond Futures ...... 09/21/21 662 USD 106,416,500 2,735,163 United Kingdom Long Gilt Bond Futures ...... 09/28/21 1,301 GBP 166,658,100 1,919,678 WTI Light Sweet Crude Oil Futures ...... 09/21/21 290 USD 20,810,400 3,889,535 Net Unrealized Appreciation ...... $12,733,338

Swap Agreements OTC Total Return Swaps

Upfront Premium Unrealized Pay/Receive Fixed Payment Maturity Underlying Reference Notional Market Paid/ Appreciation/ Fixed Rate Rate Frequency Date Counterparty Instrument Amount Value (Received) (Depreciation)(1) Pay...... 0.260% Monthly 11/23/21 BBP Barclays Copper Excess Return Index USD 13,533,498 $ (294,724) $— $ (294,724) Pay...... 0.300% Monthly 02/08/22 CIBC CIBC Dynamic Roll LME Copper Excess Return USD 28,113,139 (1,853,383) — (1,853,383) Index Pay...... 0.470% Monthly 02/16/22 CG Cargill Commodity Index (a) USD 37,830,798 (852,326) — (852,326) Pay...... 0.120% Monthly 12/09/21 CG Cargill Gold Excess Return Index USD 33,027,111 (2,212,495) — (2,212,495) Pay...... 0.400% Monthly 12/22/21 GSI Goldman Sachs Commodity i-Select Strategy USD 28,334,706 (578,464) — (578,464) 1121 (b) Pay...... 0.250% Monthly 03/09/22 JPMC JPMorgan Contag Gas Oil Excess Return Index USD 15,238,505 (82,641) — (82,641) Pay...... 0.300% Monthly 02/10/22 MBL Macquarie Aluminum Dynamic Roll Index USD 9,188,219 93,847 — 93,847 Pay...... 0.140% Monthly 02/04/22 MLI Merrill Lynch Gold Excess Return Index USD 23,673,024 — — — Pay...... 0.250% Monthly 02/04/22 MLI Merrill Lynch Natural Gas Excess Return Index USD 10,132,786 — — — Pay...... 0.300% Monthly 07/19/21 MSCS S&P GSCI Aluminum Dynamic Roll Index USD 20,137,197 106,504 — 106,504 Pay...... 0.090% Monthly 03/09/22 JPMC S&P GSCI Gold Excess Return Index USD 19,009,105 (62,034) — (62,034) Totals ...... $(5,735,716) $— $(5,735,716)

(1) There is no upfront payment premium paid or (received) therefore Market Value equals Unrealized Appreciation/(Depreciation). (a) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Cargill, Inc., as of June 30, 2021: Notional Component Futures Contracts—Long Value Weighting Soybean Meal ...... $ 8,754,045 23.1% Cotton No. 2 ...... 8,636,771 22.8% Soybean ...... 8,334,125 22.0% Wheat ...... 2,716,251 7.2% Corn No. 2 Yellow ...... 2,300,113 6.1% Soybean Oil ...... 2,300,113 6.1% Sugar No. 11 ...... 2,262,282 6.0% Coffee “C” ...... 2,110,959 5.6% Lean Hogs ...... 226,985 0.6% Live Cattle ...... 189,154 0.5% $37,830,798 100.0%

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-167 Brighthouse Funds Trust I Invesco Balanced-Risk Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Swap Agreements—(Continued)

(b) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Goldman Sachs International, as of June 30, 2021: Notional Component Futures Contracts—Long Value Weighting Soybean Meal ...... 6,556,651 23.1% Cotton No. 2 ...... 6,468,813 22.8% Soybean ...... 6,242,136 22.0% Wheat ...... 2,034,432 7.2% Corn No. 2 Yellow ...... 1,722,750 6.1% Soybean Oil ...... 1,722,750 6.1% Sugar No. 11 ...... 1,694,415 6.0% Coffee “C” ...... 1,581,077 5.6% Lean Hogs ...... 170,008 0.6% Live Cattle ...... 141,674 0.5% $28,334,706 100.0%

Glossary of Abbreviations

Counterparties (BBP)— Barclays Bank plc (GSI)— Goldman Sachs International (MLI)— Merill Lynch International (CG)— Cargill, Inc. (JPMC)— JPMorgan Chase Bank N.A. (MSCS)— Morgan Stanley Capital Services, LLC (CIBC)— Canadian Imperial Bank of Commerce (MBL)— Macquarie Bank, Ltd.

Currencies (AUD)— Australian Dollar (EUR)— Euro (JPY)— Japanese Yen (CAD)— Canadian Dollar (GBP)— British Pound (USD)— United States Dollar

Index Abbreviations (LIBOR)— London Interbank Offered Rate (SOFR)— Secured Overnight Financing Rate (USTBMM)— U.S. Treasury Bill Money Market Yield (OBFR)— U.S. Overnight Bank Funding Rate

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-168 Brighthouse Funds Trust I Invesco Balanced-Risk Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $ — $ 59,043,146 $— $ 59,043,146 Total Commodity-Linked Securities* ...... — 47,614,515 — 47,614,515 Total Municipals* ...... — 25,000,000 — 25,000,000 Short-Term Investments Certificate of Deposit ...... — 37,507,646 — 37,507,646 Commercial Paper ...... — 853,691,057 — 853,691,057 Mutual Funds ...... 205,630,751 — — 205,630,751 U.S. Treasury ...... — 123,490,752 — 123,490,752 Total Short-Term Investments ...... 205,630,751 1,014,689,455 — 1,220,320,206 Total Investments ...... $205,630,751 $1,146,347,116 $— $1,351,977,867 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 18,073,073 $ — $— $ 18,073,073 Futures Contracts (Unrealized Depreciation) ...... (5,339,735) — — (5,339,735) Total Futures Contracts ...... $ 12,733,338 $ — $— $ 12,733,338 OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 200,351 $— $ 200,351 OTC Swap Contracts at Value (Liabilities) ...... — (5,936,067) — (5,936,067) Total OTC Swap Contracts ...... $ — $ (5,735,716) $— $ (5,735,716)

* See Consolidated Schedule of Investments for additional detailed categorizations.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-169 Brighthouse Funds Trust I Invesco Comstock Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—97.9% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—1.7% Electrical Equipment—4.0% Textron, Inc. (a) ...... 581,190 $ 39,968,436 Eaton Corp. plc ...... 334,662 $ 49,590,215 Emerson Electric Co...... 487,914 46,956,844 Air Freight & Logistics—1.6% 96,547,059 FedEx Corp...... 126,855 37,844,652 Equity Real Estate Investment Trusts—0.8% Automobiles—2.2% Host Hotels & Resorts, Inc. (a) (b) ...... 1,197,237 20,460,780 General Motors Co. (b) ...... 886,086 52,429,709 Food Products—1.4% Banks—13.8% Kraft Heinz Co. (The) (a) ...... 453,072 18,476,276 Bank of America Corp...... 2,046,116 84,361,363 Tyson Foods, Inc. - Class A ...... 223,568 16,490,376 Citigroup, Inc...... 1,237,509 87,553,762 Citizens Financial Group, Inc...... 755,616 34,660,106 34,966,652 Fifth Third Bancorp (a) ...... 819,575 31,332,352 Huntington Bancshares, Inc. (a) ...... 522,593 7,457,402 Health Care Equipment & Supplies—1.3% JPMorgan Chase & Co. (a) ...... 204,743 31,845,726 Baxter International, Inc...... 158,082 12,725,601 Wells Fargo & Co...... 1,306,749 59,182,662 Dentsply Sirona, Inc...... 290,866 18,400,183 336,393,373 31,125,784

Beverages—1.7% Health Care Providers & Services—9.7% Coca-Cola Co. (The) ...... 764,660 41,375,753 Anthem, Inc...... 141,818 54,146,112 CVS Health Corp...... 400,573 33,423,811 Building Products—2.7% HCA Healthcare, Inc...... 261,187 53,997,800 Johnson Controls International plc ...... 714,025 49,003,536 Henry Schein, Inc. (b) ...... 328,715 24,387,366 Trane Technologies plc ...... 85,498 15,743,602 McKesson Corp...... 160,053 30,608,536 UnitedHealth Group, Inc...... 26,943 10,789,055 64,747,138 Universal Health Services, Inc. - Class B ...... 186,436 27,299,824 Capital Markets—6.2% 234,652,504 Bank of New York Mellon Corp. (The) ...... 797,000 40,830,310 Goldman Sachs Group, Inc. (The) ...... 114,099 43,303,993 Hotels, Restaurants & Leisure—1.8% Morgan Stanley ...... 534,529 49,010,964 Booking Holdings, Inc. (b) ...... 9,937 21,743,050 State Street Corp. (a) ...... 222,666 18,320,959 Las Vegas Sands Corp. (a) (b) ...... 402,333 21,198,926 151,466,226 42,941,976

Chemicals—3.2% Industrial Conglomerates—1.4% CF Industries Holdings, Inc...... 678,952 34,932,080 General Electric Co...... 2,595,594 34,936,695 Corteva, Inc...... 603,203 26,752,053 DuPont de Nemours, Inc...... 197,445 15,284,218 Insurance—3.6% Allstate Corp. (The) ...... 223,783 29,190,254 76,968,351 American International Group, Inc...... 1,238,481 58,951,696 Communications Equipment—2.1% 88,141,950 Cisco Systems, Inc...... 966,837 51,242,361 Internet & Direct Marketing Retail—0.7% Consumer Finance—0.5% eBay, Inc. (a) ...... 236,992 16,639,208 Capital One Financial Corp...... 72,094 11,152,221 IT Services—2.2% Containers & Packaging—1.7% Cognizant Technology Solutions Corp. - Class A ...... 599,319 41,508,834 International Paper Co...... 682,808 41,862,959 DXC Technology Co. (b) ...... 334,816 13,037,735 54,546,569 Diversified Telecommunication Services—0.8% AT&T, Inc...... 647,489 18,634,733 Machinery—1.8% Caterpillar, Inc...... 204,953 44,603,921 Electric Utilities—1.4% Exelon Corp...... 786,331 34,842,327 Media—1.6% Comcast Corp. - Class A ...... 688,290 39,246,296

See accompanying notes to financial statements. BHFTI-170 Brighthouse Funds Trust I Invesco Comstock Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued) Securities Lending Reinvestments (c)—4.6%

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil, Gas & Consumable Fuels—11.2% Certificates of Deposit—0.2% Canadian Natural Resources, Ltd...... 800,594 $ 29,063,190 Agricultural Bank of China Chevron Corp...... 439,627 46,046,532 0.100%, 07/01/21 ...... 400,000 $ 400,000 ConocoPhillips (a) ...... 323,096 19,676,547 Bank of Nova Scotia Devon Energy Corp. (a) ...... 1,189,728 34,728,160 0.212%, 3M LIBOR + 0.050%, 11/08/21 (d) ...... 2,000,000 1,999,414 Hess Corp. (a) ...... 383,251 33,465,477 Oversea-Chinese Banking Corp., Ltd. Marathon Oil Corp...... 2,791,260 38,016,961 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 1,000,000 1,000,004 Pioneer Natural Resources Co. (a) ...... 239,006 38,843,255 Royal Bank of Canada New York Suncor Energy, Inc...... 1,376,124 32,985,692 0.240%, 3M LIBOR + 0.040%, 10/05/21 (d) ...... 1,000,000 1,000,177 Sumitomo Mitsui Trust Bank, Ltd. 272,825,814 Zero Coupon, 08/09/21 ...... 999,323 999,850 Toronto-Dominion Bank Pharmaceuticals—4.4% 0.267%, 3M LIBOR + 0.070%, 10/08/21 (d) ...... 1,000,000 999,911 Bristol-Myers Squibb Co...... 387,897 25,919,278 6,399,356 Johnson & Johnson ...... 262,204 43,195,487 Sanofi (ADR) (a) ...... 730,328 38,459,072 Commercial Paper—0.1% 107,573,837 Bedford Row Funding Corp. 0.266%, 3M LIBOR + 0.080%, 10/21/21 (d) ...... 2,000,000 2,000,812 Real Estate Management & Development—0.5% Jones Lang LaSalle, Inc. (b) ...... 66,092 12,918,342 Repurchase Agreements—3.5% Barclays Bank plc Semiconductors & Semiconductor Equipment—4.7% Repurchase Agreement dated 06/30/21 at 0.200%, due on Intel Corp...... 631,079 35,428,775 07/01/21 with a maturity value of $1,800,010; NXP Semiconductors NV ...... 212,509 43,717,352 collateralized by various Common Stock with an aggregate QUALCOMM, Inc...... 240,279 34,343,077 market value of $2,000,153...... 1,800,000 1,800,000 Barclays Capital, Inc. 113,489,204 Repurchase Agreement dated 06/30/21 at 0.030%, due on 07/01/21 with a maturity value of $15,607,319; Software—2.7% collateralized by U.S. Treasury Obligations at 0.000%, CDK Global, Inc...... 533,522 26,510,708 maturity dates ranging from 05/15/29 - 11/15/43, and an Microsoft Corp...... 147,239 39,887,045 aggregate market value of $15,919,452...... 15,607,306 15,607,306 66,397,753 Citigroup Global Markets, Inc. Repurchase Agreement dated 06/30/21 at 0.060%, due on Tobacco—4.5% 07/01/21 with a maturity value of $5,000,008; Altria Group, Inc...... 740,374 35,301,033 collateralized by U.S. Treasury Obligations with rates ranging Philip Morris International, Inc...... 749,310 74,264,114 from 0.125% - 6.125%, maturity dates ranging from 08/15/29 - 02/15/31, and an aggregate market value of 109,565,147 $5,100,002...... 5,000,000 5,000,000 Total Common Stocks Repurchase Agreement dated 06/30/21 at 0.430%, due on (Cost $1,600,403,253) ...... 2,380,507,730 08/04/21 with a maturity value of $13,005,435; collateralized by U.S. Treasury Obligations at 0.125%, maturing 05/31/23, and various Common Stock with an Short-Term Investment—1.9% aggregate market value of $14,293,861...... 13,000,000 13,000,000 Deutsche Bank AG, London Repurchase Agreement—1.9% Repurchase Agreement dated 06/30/21 at 0.170%, due on Fixed Income Clearing Corp. 07/01/21 with a maturity value of $800,004; collateralized Repurchase Agreement dated 06/30/21 at 0.000%, due on by U.S. Treasury and Foreign Obligations with rates ranging 07/01/21 with a maturity value of $46,018,994; from 0.000% - 3.375%, maturity dates ranging from collateralized by U.S. Treasury Note at 0.375%, maturing 02/01/22 - 03/11/31, and an aggregate market value of 04/15/24, with a market value of $46,939,402...... 46,018,994 46,018,994 $816,001...... 800,000 800,000 HSBC Bank plc Total Short-Term Investments Repurchase Agreement dated 06/30/21 at 0.100%, due on (Cost $46,018,994) ...... 46,018,994 07/01/21 with a maturity value of $5,100,014; collateralized by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value of $5,204,096...... 5,100,000 5,100,000

See accompanying notes to financial statements. BHFTI-171 Brighthouse Funds Trust I Invesco Comstock Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Time Deposits—(Continued) ING Financial Markets LLC Rabobank (New York) Repurchase Agreement dated 06/30/21 at 0.040%, due on 0.050%, 07/01/21 ...... 3,000,000 $ 3,000,000 07/01/21 with a maturity value of $7,000,008; 9,400,000 collateralized by U.S. Government Agency Obligations with rates ranging from 0.055% - 6.625%, maturity dates ranging Mutual Funds—0.4% from 10/12/21 - 01/04/35, and an aggregate market value BlackRock Liquidity Funds FedFund, Institutional Shares of $7,140,023...... 7,000,000 $ 7,000,000 0.030% (e) ...... 4,000,000 4,000,000 National Bank of Canada Goldman Sachs Financial Square Government Fund, Institutional Repurchase Agreement dated 06/30/21 at 0.210%, due on Shares 07/07/21 with a maturity value of $5,000,204; 0.020% (e) ...... 5,000,000 5,000,000 collateralized by various Common Stock with an aggregate market value of $5,555,588...... 5,000,000 5,000,000 9,000,000 Natwest Market Securities, Inc. Total Securities Lending Reinvestments Repurchase Agreement dated 06/30/21 at 0.050%, due on (Cost $112,407,089) ...... 112,407,474 07/01/21 with a maturity value of $21,000,029; collateralized by U.S. Treasury Obligations with rates ranging Total Investments—104.4% from 1.250% - 8.125%, maturity dates ranging from (Cost $1,758,829,336) ...... 2,538,934,198 08/15/21 - 05/15/51, and an aggregate market value of Other assets and liabilities (net)—(4.4)% ...... (108,023,669) $21,420,030...... 21,000,000 21,000,000 Net Assets—100.0% ...... $2,430,910,529 NBC Global Finance, Ltd. Repurchase Agreement dated 06/30/21 at 0.245%, due on * Principal amount stated in U.S. dollars unless otherwise noted. 07/07/21 with a maturity value of $1,300,062; (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value collateralized by U.S. Treasury Obligations with rates ranging of securities loaned was $123,572,745 and the collateral received consisted of cash in from 1.875% - 3.000%, maturity dates ranging from the amount of $112,406,628 and non-cash collateral with a value of $12,157,617. The 07/31/22 - 02/15/49, and various Common Stock with an cash collateral investments are disclosed in the Schedule of Investments and categorized aggregate market value of $1,444,445...... 1,300,000 1,300,000 as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. Societe Generale government securities that are held in safe-keeping by the lending agent, or a Repurchase Agreement dated 06/30/21 at 0.180%, due on third-party custodian, and cannot be sold or repledged by the Portfolio. As such, this 07/01/21 with a maturity value of $10,000,050; collateral is excluded from the Statement of Assets and Liabilities. collateralized by various Common Stock with an aggregate (b) Non-income producing security. (c) Represents investment of cash collateral received from securities on loan as of June 30, market value of $11,111,343...... 10,000,000 10,000,000 2021. 85,607,306 (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Maturity date shown for callable securities reflects the earliest possible call date. For Time Deposits—0.4% securities based on a published reference index and spread, the index and spread are ABN AMRO Bank NV 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- 0.080%, 07/01/21 ...... 3,000,000 3,000,000 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Landesbank Baden-Wuettertemberg (London) underlying collateral or prepayments of principal. These securities do not indicate a 0.130%, 07/01/21 ...... 400,000 400,000 reference index and spread in their description above. 0.130%, 07/01/21 ...... 3,000,000 3,000,000 (e) The rate shown represents the annualized seven-day yield as of June 30, 2021.

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) CAD 1,121,602 RBC ...... 07/30/21 USD 905,089 $ (293)

Contracts to Deliver CAD 39,058,420 CIBC ...... 07/30/21 USD 31,773,391 264,969 EUR 15,997,806 CIBC ...... 07/30/21 USD 19,148,792 168,393 Net Unrealized Appreciation ...... $433,069

See accompanying notes to financial statements. BHFTI-172 Brighthouse Funds Trust I Invesco Comstock Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations

Counterparties (CIBC)— Canadian Imperial Bank of Commerce (RBC)— Royal Bank of Canada

Currencies (CAD)— Canadian Dollar (EUR)— Euro (USD)— United States Dollar

Index Abbreviations (LIBOR)— London Interbank Offered Rate

Other Abbreviations (ADR)— American Depositary Receipt

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $2,380,507,730 $ — $— $2,380,507,730 Total Short-Term Investment* ...... — 46,018,994 — 46,018,994 Securities Lending Reinvestments Certificates of Deposit ...... — 6,399,356 — 6,399,356 Commercial Paper ...... — 2,000,812 — 2,000,812 Repurchase Agreements ...... — 85,607,306 — 85,607,306 Time Deposits ...... — 9,400,000 — 9,400,000 Mutual Funds ...... 9,000,000 — — 9,000,000 Total Securities Lending Reinvestments ...... 9,000,000 103,407,474 — 112,407,474 Total Investments ...... $2,389,507,730 $ 149,426,468 $— $2,538,934,198 Collateral for Securities Loaned (Liability) ...... $ — $(112,406,628) $— $ (112,406,628) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 433,362 $— $ 433,362 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (293) — (293) Total Forward Contracts ...... $ — $ 433,069 $— $ 433,069

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-173 Brighthouse Funds Trust I Invesco Global Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—99.5% of Net Assets

Security Description Shares Value Security Description Shares Value

Brazil—0.8% Switzerland—0.9% StoneCo, Ltd. - Class A (a) ...... 193,625 $ 12,984,493 Lonza Group AG ...... 10,054 $ 7,127,207 Zur Rose Group AG (a) ...... 19,536 7,486,978 China—4.1% 14,614,185 JD.com, Inc. (ADR) (a) ...... 717,623 57,273,491 Meituan - Class B (a) ...... 156,500 6,463,696 United Kingdom—2.4% 63,737,187 Farfetch, Ltd. - Class A (a) (b) ...... 415,083 20,903,580 Prudential plc ...... 873,298 16,569,818 Denmark—0.4% 37,473,398 Ambu A/S - Class B (b) ...... 131,522 5,054,828 Ascendis Pharma A/S (ADR) (a) ...... 5,861 771,015 United States—55.3% 5,825,843 Adobe, Inc. (a) ...... 117,203 68,638,765 Agilent Technologies, Inc...... 209,856 31,018,815 France—11.3% Alphabet, Inc. - Class A (a) ...... 66,247 161,761,262 Airbus SE (a) ...... 353,674 45,546,316 Amazon.com, Inc. (a) ...... 4,147 14,266,343 Dassault Systemes SE ...... 20,157 4,890,085 Analog Devices, Inc...... 19,491 3,355,571 Kering S.A...... 54,716 47,880,364 Avantor, Inc. (a) (b) ...... 663,958 23,577,149 LVMH Moet Hennessy Louis Vuitton SE ...... 97,774 76,768,910 Boston Scientific Corp. (a) ...... 189,376 8,097,718 175,085,675 Castle Biosciences, Inc. (a) (b) ...... 45,982 3,371,860 Charles River Laboratories International, Inc. (a) ...... 21,303 7,880,406 Germany—2.5% Dun & Bradstreet Holdings, Inc. (a) (b) ...... 113,373 2,422,781 SAPSE...... 271,818 38,352,827 Electronic Arts, Inc...... 80,421 11,566,952 Equifax, Inc...... 118,437 28,366,846 India—3.4% Facebook, Inc. - Class A (a) ...... 231,745 80,580,054 DLF, Ltd...... 7,952,114 30,125,362 Fate Therapeutics, Inc. (a) (b) ...... 33,534 2,910,416 ICICI Bank, Ltd. (ADR) (a) (b) ...... 1,345,542 23,008,768 Fidelity National Information Services, Inc...... 132,164 18,723,674 Illumina, Inc. (a) ...... 25,280 11,962,749 53,134,130 Intuit, Inc...... 156,534 76,728,271 Intuitive Surgical, Inc. (a) ...... 7,623 7,010,416 Italy—0.3% IQVIA Holdings, Inc. (a) ...... 40,285 9,761,861 Brunello Cucinelli S.p.A. (a) (b) ...... 87,383 5,120,728 Marriott International, Inc. - Class A (a) ...... 14,140 1,930,393 Maxim Integrated Products, Inc...... 439,927 46,350,709 Japan—12.8% Microsoft Corp...... 55,288 14,977,519 Capcom Co., Ltd...... 268,300 7,851,315 PayPal Holdings, Inc. (a) ...... 146,548 42,715,811 FANUC Corp...... 67,700 16,319,107 Pegasystems, Inc. (b) ...... 66,777 9,294,691 Keyence Corp...... 74,100 37,379,283 Phathom Pharmaceuticals, Inc. (a) (b) ...... 126,977 4,298,171 Murata Manufacturing Co., Ltd...... 489,400 37,346,142 Qualtrics International, Inc. - Class A (a) (b) ...... 67,791 2,593,006 Nidec Corp...... 431,600 49,988,041 S&P Global, Inc...... 171,761 70,499,302 Omron Corp...... 253,900 20,124,019 Twist Bioscience Corp. (a) (b) ...... 6,567 875,053 Takeda Pharmaceutical Co., Ltd...... 183,981 6,179,011 United Parcel Service, Inc. - Class B ...... 164,522 34,215,640 TDK Corp...... 179,400 21,796,573 Veracyte, Inc. (a) (b) ...... 187,341 7,489,893 196,983,491 Visa, Inc. - A Shares ...... 75,821 17,728,466 Walt Disney Co. (The) (a) ...... 163,603 28,756,499 Netherlands—0.9% 853,727,062 ASML Holding NV ...... 14,364 9,889,634 uniQure NV (a) ...... 116,633 3,592,297 Total Common Stocks (Cost $665,382,917) ...... 1,537,732,105 13,481,931

Spain—1.2% Industria de Diseno Textil S.A ...... 502,919 17,721,261

Sweden—3.2% Assa Abloy AB - Class B ...... 723,557 21,799,977 Atlas Copco AB - A Shares ...... 451,991 27,689,917 49,489,894

See accompanying notes to financial statements. BHFTI-174 Brighthouse Funds Trust I Invesco Global Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Short-Term Investment—0.3%

Principal Shares/ Security Description Amount* Value Principal Security Description Amount* Value Repurchase Agreement—0.3% Fixed Income Clearing Corp. Repurchase Agreements—(Continued) Repurchase Agreement dated 06/30/21 at 0.000%, due on NBC Global Finance, Ltd. 07/01/21 with a maturity value of $4,748,623; collateralized Repurchase Agreement dated 06/30/21 at 0.245%, due on by U.S. Treasury Note at 0.250%, maturing 01/15/25, with a 07/07/21 with a maturity value of $1,800,086; collateralized market value of $4,843,611...... 4,748,623 $ 4,748,623 by U.S. Treasury Obligations with rates ranging from 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, Total Short-Term Investments and various Common Stock with an aggregate market value of (Cost $4,748,623) ...... 4,748,623 $2,000,001...... 1,800,000 $ 1,800,000 Repurchase Agreement dated 06/30/21 at 0.260%, due on Securities Lending Reinvestments (c)—2.5% 07/07/21 with a maturity value of $100,005; collateralized by U.S. Treasury Obligations with rates ranging from 2.125% - Certificates of Deposit—0.1% 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, Agricultural Bank of China and various Common Stock with an aggregate market value of 0.100%, 07/01/21 ...... 200,000 200,000 $111,131...... 100,000 100,000 Royal Bank of Canada New York Societe Generale Repurchase Agreement dated 06/30/21 at 0.180%, due on 0.240%, 3M LIBOR + 0.040%, 10/05/21 (d) ...... 1,000,000 1,000,177 07/01/21 with a maturity value of $4,000,020; collateralized 1,200,177 by various Common Stock with an aggregate market value of $4,444,537...... 4,000,000 4,000,000 Repurchase Agreements—1.0% 15,221,369 Barclays Bank plc Repurchase Agreement dated 06/30/21 at 0.200%, due on Time Deposits—0.1% 07/01/21 with a maturity value of $600,003; collateralized Landesbank Baden-Wuettertemberg (London) by various Common Stock with an aggregate market value of 0.130%, 07/01/21 ...... 200,000 200,000 $666,718...... 600,000 600,000 National Bank of Canada Barclays Capital, Inc. 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 1,000,000 1,000,000 Repurchase Agreement dated 06/30/21 at 0.030%, due on 07/01/21 with a maturity value of $821,370; collateralized 1,200,000 by U.S. Treasury Obligations at 0.000%, maturity dates ranging from 05/15/29 - 11/15/43, and an aggregate market value Mutual Funds—1.3% of $837,796...... 821,369 821,369 BlackRock Liquidity Funds FedFund, Institutional Shares Citigroup Global Markets, Inc. 0.030% (e) ...... 5,000,000 5,000,000 Repurchase Agreement dated 06/30/21 at 0.430%, due on Fidelity Government Portfolio, Institutional Class 0.010% (e) ...... 5,000,000 5,000,000 08/04/21 with a maturity value of $3,001,254; collateralized Goldman Sachs Financial Square Government Fund, Institutional by U.S. Treasury Obligations at 2.000%, maturing 11/30/22, Shares and various Common Stock with an aggregate market value of 0.020 (e) ...... 5,000,000 5,000,000 $3,294,682...... 3,000,000 3,000,000 Wells Fargo Government Money Market Fund, Select Class Deutsche Bank AG, London 0.030% (e) ...... 5,000,000 5,000,000 Repurchase Agreement dated 06/30/21 at 0.170%, due on 07/01/21 with a maturity value of $100,000; collateralized 20,000,000 by U.S. Treasury and Foreign Obligations with rates ranging Total Securities Lending Reinvestments from 0.000% - 3.375%, maturity dates ranging from (Cost $37,621,369) ...... 37,621,546 02/01/22 - 03/11/31, and an aggregate market value of Total Investments—102.3% $102,000...... 100,000 100,000 (Cost $707,752,909) ...... 1,580,102,274 HSBC Bank plc Other assets and liabilities (net)—(2.3)% ...... (35,805,485) Repurchase Agreement dated 06/30/21 at 0.100%, due on 07/01/21 with a maturity value of $800,002; collateralized Net Assets—100.0% ...... $1,544,296,789 by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, * Principal amount stated in U.S. dollars unless otherwise noted. and an aggregate market value of $816,329...... 800,000 800,000 (a) Non-income producing security. National Bank of Canada (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Repurchase Agreement dated 06/30/21 at 0.210%, due on of securities loaned was $36,082,964 and the collateral received consisted of cash in 07/07/21 with a maturity value of $4,000,163; collateralized the amount of $37,621,369. The cash collateral investments are disclosed in the by various Common Stock with an aggregate market value of Schedule of Investments and categorized as Securities Lending Reinvestments. $4,444,470...... 4,000,000 4,000,000 (c) Represents investment of cash collateral received from securities on loan as of June 30, 2021.

See accompanying notes to financial statements. BHFTI-175 Brighthouse Funds Trust I Invesco Global Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

(d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Ten Largest Industries as of %of Maturity date shown for callable securities reflects the earliest possible call date. For June 30, 2021 (Unaudited) Net Assets securities based on a published reference index and spread, the index and spread are Interactive Media & Services ...... 15.7 indicated in the description above. For certain variable rate securities, the coupon rate is Software ...... 13.9 determined by the issuer/agent based on current market conditions. For certain asset- Textiles, Apparel & Luxury Goods ...... 8.4 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Electronic Equipment, Instruments & Components ...... 7.5 underlying collateral or prepayments of principal. These securities do not indicate a Internet & Direct Marketing Retail ...... 6.4 reference index and spread in their description above. IT Services ...... 6.0 (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. Life Sciences Tools & Services ...... 5.9 Capital Markets ...... 4.6 Semiconductors & Semiconductor Equipment ...... 3.9 Electrical Equipment ...... 3.2

Glossary of Abbreviations

Index Abbreviations (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-176 Brighthouse Funds Trust I Invesco Global Equity Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Brazil ...... $ 12,984,493 $ — $— $ 12,984,493 China ...... 57,273,491 6,463,696 — 63,737,187 Denmark ...... 771,015 5,054,828 — 5,825,843 France ...... — 175,085,675 — 175,085,675 Germany ...... — 38,352,827 — 38,352,827 India ...... 23,008,768 30,125,362 — 53,134,130 Italy ...... — 5,120,728 — 5,120,728 Japan ...... — 196,983,491 — 196,983,491 Netherlands ...... 3,592,297 9,889,634 — 13,481,931 Spain ...... — 17,721,261 — 17,721,261 Sweden ...... — 49,489,894 — 49,489,894 Switzerland ...... — 14,614,185 — 14,614,185 United Kingdom ...... 20,903,580 16,569,818 — 37,473,398 United States ...... 853,727,062 — — 853,727,062 Total Common Stocks ...... 972,260,706 565,471,399 — 1,537,732,105 Total Short-Term Investment* ...... — 4,748,623 — 4,748,623 Securities Lending Reinvestments Certificates of Deposit ...... — 1,200,177 — 1,200,177 Repurchase Agreements ...... — 15,221,369 — 15,221,369 Time Deposits ...... — 1,200,000 — 1,200,000 Mutual Funds ...... 20,000,000 — — 20,000,000 Total Securities Lending Reinvestments ...... 20,000,000 17,621,546 — 37,621,546 Total Investments ...... $992,260,706 $587,841,568 $— $1,580,102,274 Collateral for Securities Loaned (Liability) ...... $ — $(37,621,369) $— $ (37,621,369)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-177 Brighthouse Funds Trust I Invesco Small Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—97.0% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.4% Construction & Engineering—2.3% Mercury Systems, Inc. (a) ...... 68,209 $ 4,520,892 AECOM (a) ...... 168,217 $ 10,651,501 Construction Partners, Inc. - Class A (a) (b) ...... 286,071 8,982,629 Auto Components—1.7% Valmont Industries, Inc. (b) ...... 47,240 11,151,002 Fox Factory Holding Corp. (a) ...... 84,040 13,081,666 30,785,132 Visteon Corp. (a) ...... 72,723 8,795,120 21,876,786 Construction Materials—0.7% Eagle Materials, Inc...... 63,613 9,040,043 Automobiles—0.7% Harley-Davidson, Inc...... 205,628 9,421,875 Consumer Finance—0.4% LendingTree, Inc. (a) ...... 24,101 5,106,520 Beverages—0.8% Boston Beer Co., Inc. (The) - Class A (a) ...... 10,629 10,850,083 Distributors—0.8% Pool Corp...... 23,020 10,558,353 Biotechnology—10.3% Abcam plc (a) ...... 360,388 6,876,867 Diversified Telecommunication Services—0.8% Ascendis Pharma A/S (ADR) (a) ...... 49,372 6,494,886 Iridium Communications, Inc. (a) ...... 264,823 10,590,272 CareDx, Inc. (a) ...... 261,163 23,901,638 ChemoCentryx, Inc. (a) (b) ...... 92,589 1,239,767 Electrical Equipment—2.5% Halozyme Therapeutics, Inc. (a) (b) ...... 324,944 14,755,707 Array Technologies, Inc. (a) ...... 234,143 3,652,631 Heron Therapeutics, Inc. (a) (b) ...... 231,468 3,592,383 Generac Holdings, Inc. (a) ...... 19,562 8,121,164 Immunovant, Inc. (a) (b) ...... 122,054 1,290,111 Shoals Technologies Group, Inc. - Class A (a) ...... 267,833 9,508,071 Intellia Therapeutics, Inc. (a) (b) ...... 87,486 14,164,858 Vicor Corp. (a) ...... 107,394 11,355,842 Iovance Biotherapeutics, Inc. (a) (b) ...... 133,139 3,464,277 32,637,708 Kodiak Sciences, Inc. (a) (b) ...... 53,137 4,941,741 Mirati Therapeutics, Inc. (a) ...... 30,166 4,872,714 Electronic Equipment, Instruments & Components—2.8% Natera, Inc. (a) ...... 171,036 19,417,717 Fabrinet (a) ...... 93,846 8,997,016 Sage Therapeutics, Inc. (a) (b) ...... 61,223 3,478,079 II-VI, Inc. (a) (b) ...... 138,325 10,041,012 Translate Bio, Inc. (a) (b) ...... 264,313 7,279,180 IPG Photonics Corp. (a) ...... 39,171 8,256,071 Twist Bioscience Corp. (a) (b) ...... 150,356 20,034,937 Littelfuse, Inc...... 39,333 10,021,655 135,804,862 37,315,754

Building Products—2.5% Equity Real Estate Investment Trusts—0.6% Builders FirstSource, Inc. (a) ...... 363,943 15,525,809 EastGroup Properties, Inc...... 49,871 8,201,286 Simpson Manufacturing Co., Inc...... 67,846 7,492,912 Trex Co., Inc. (a) (b) ...... 101,376 10,361,641 Food & Staples Retailing—0.7% 33,380,362 Performance Food Group Co. (a) ...... 184,993 8,970,311

Capital Markets—1.9% Health Care Equipment & Supplies—7.3% LPL Financial Holdings, Inc...... 108,322 14,621,303 AtriCure, Inc. (a) ...... 168,059 13,332,120 Morningstar, Inc...... 41,072 10,560,022 CONMED Corp. (b) ...... 77,376 10,633,784 25,181,325 CryoPort, Inc. (a) (b) ...... 192,165 12,125,612 Inari Medical, Inc. (a) ...... 124,331 11,597,596 Chemicals—2.1% Insulet Corp. (a) ...... 35,752 9,814,282 Axalta Coating Systems, Ltd. (a) ...... 262,744 8,011,064 iRhythm Technologies, Inc. (a) ...... 59,501 3,947,891 Danimer Scientific, Inc. (a) (b) ...... 265,073 6,640,079 Masimo Corp. (a) ...... 40,141 9,732,185 Element Solutions, Inc...... 579,593 13,550,884 Mesa Laboratories, Inc. (b) ...... 25,647 6,954,697 Nevro Corp. (a) ...... 58,677 9,728,060 28,202,027 Tandem Diabetes Care, Inc. (a) ...... 91,293 8,891,938 96,758,165 Commercial Services & Supplies—1.3% Clean Harbors, Inc. (a) ...... 113,013 10,526,031 IAA, Inc. (a) ...... 130,456 7,115,070 Health Care Providers & Services—0.7% LHC Group, Inc. (a) (b) ...... 46,792 9,370,566 17,641,101 Health Care Technology—0.8% Schrodinger, Inc. (a) (b) ...... 132,277 10,001,464

See accompanying notes to financial statements. BHFTI-178 Brighthouse Funds Trust I Invesco Small Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Hotels, Restaurants & Leisure—5.5% Professional Services—1.2% Caesars Entertainment, Inc. (a) ...... 169,473 $ 17,582,824 ASGN, Inc. (a) ...... 95,598 $ 9,266,314 Marriott Vacations Worldwide Corp. (a) ...... 69,529 11,075,970 Clarivate plc (a) ...... 252,749 6,958,180 Penn National Gaming, Inc. (a) (b) ...... 154,939 11,851,284 16,224,494 Planet Fitness, Inc. - Class A (a) ...... 125,893 9,473,448 Texas Roadhouse, Inc...... 124,277 11,955,447 Road & Rail—2.2% Wingstop, Inc...... 65,942 10,394,438 Knight-Swift Transportation Holdings, Inc. (b) ...... 97,270 4,421,894 72,333,411 Lyft, Inc. - Class A (a) (b) ...... 212,270 12,838,090 Saia, Inc. (a) ...... 54,305 11,376,354 Household Durables—0.8% 28,636,338 Installed Building Products, Inc...... 85,931 10,514,517 Semiconductors & Semiconductor Equipment—7.9% Insurance—0.3% Allegro MicroSystems, Inc. (a) (b) ...... 357,112 9,892,002 Goosehead Insurance, Inc. - Class A ...... 29,919 3,808,689 Ambarella, Inc. (a) ...... 84,184 8,976,540 Cree, Inc. (a) (b) ...... 94,744 9,278,280 Internet & Direct Marketing Retail—1.5% Lattice Semiconductor Corp. (a) ...... 355,531 19,973,732 Overstock.com, Inc. (a) (b) ...... 174,671 16,104,666 MACOM Technology Solutions Holdings, Inc. (a) ...... 166,511 10,670,025 Shutterstock, Inc...... 42,069 4,129,914 MKS Instruments, Inc...... 48,973 8,714,745 20,234,580 Power Integrations, Inc...... 129,171 10,599,772 Semtech Corp. (a) ...... 164,729 11,333,355 IT Services—0.4% Silicon Laboratories, Inc. (a) ...... 94,390 14,465,268 BigCommerce Holdings, Inc. (a) ...... 84,164 5,463,927 103,903,719

Life Sciences Tools & Services—8.5% Software—13.4% Adaptive Biotechnologies Corp. (a) (b) ...... 133,013 5,434,911 Altair Engineering, Inc. - Class A (a) (b) ...... 147,319 10,160,591 Avantor, Inc. (a) ...... 443,489 15,748,294 Anaplan, Inc. (a) ...... 132,449 7,059,532 Bio-Techne Corp. (b) ...... 23,984 10,799,036 Avalara, Inc. (a) ...... 60,957 9,862,843 Bruker Corp...... 127,894 9,717,386 Bill.com Holdings, Inc. (a) ...... 86,878 15,914,312 Maravai LifeSciences Holdings, Inc. - Class A (a) ...... 327,656 13,673,085 Black Knight, Inc. (a) ...... 69,114 5,389,510 NanoString Technologies, Inc. (a) (b) ...... 145,811 9,447,095 Blackline, Inc. (a) ...... 124,391 13,840,986 NeoGenomics, Inc. (a) (b) ...... 229,691 10,375,143 Cerence, Inc. (a) (b) ...... 47,117 5,027,855 Repligen Corp. (a) ...... 114,877 22,931,747 Duck Creek Technologies, Inc. (a) ...... 72,361 3,148,427 Syneos Health, Inc. (a) ...... 165,819 14,839,142 Everbridge, Inc. (a) (b) ...... 53,373 7,262,998 112,965,839 Fair Isaac Corp. (a) ...... 16,041 8,063,490 Five9, Inc. (a) ...... 65,907 12,086,685 Machinery—6.0% Guidewire Software, Inc. (a) (b) ...... 90,015 10,146,491 Evoqua Water Technologies Corp. (a) ...... 326,373 11,024,880 LivePerson, Inc. (a) (b) ...... 171,541 10,848,253 Kennametal, Inc. (b) ...... 233,516 8,387,895 Nuance Communications, Inc. (a) ...... 26,083 1,419,958 Kornit Digital, Ltd. (a) ...... 122,115 15,182,558 Pegasystems, Inc...... 88,279 12,287,554 Nordson Corp...... 37,584 8,250,064 Q2 Holdings, Inc. (a) ...... 149,463 15,331,914 Terex Corp...... 187,939 8,949,655 Qualys, Inc. (a) (b) ...... 69,478 6,995,740 Timken Co. (The) ...... 118,321 9,535,489 Smartsheet, Inc. - Class A (a) ...... 138,304 10,002,145 Welbilt, Inc. (a) ...... 789,305 18,272,411 Zendesk, Inc. (a) (b) ...... 83,555 12,060,329 79,602,952 176,909,613

Metals & Mining—0.9% Special Purpose Acquisition Companies—0.4% Cleveland-Cliffs, Inc. (a) (b) ...... 572,455 12,342,130 VPC Impact Acquisition Holdings - Class A (a) (b) ...... 525,483 5,260,085

Multiline Retail—0.5% Specialty Retail—3.1% Ollie’s Bargain Outlet Holdings, Inc. (a) (b) ...... 76,944 6,473,299 Five Below, Inc. (a) ...... 58,480 11,302,430 Floor & Decor Holdings, Inc. - Class A (a) ...... 131,260 13,874,182 Pharmaceuticals—0.8% RH(a)...... 24,030 16,316,370 Catalent, Inc. (a) ...... 96,102 10,390,548 41,492,982

See accompanying notes to financial statements. BHFTI-179 Brighthouse Funds Trust I Invesco Small Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Trading Companies & Distributors—1.5% Repurchase Agreements—5.2% SiteOne Landscape Supply, Inc. (a) (b) ...... 63,815 $ 10,801,327 Barclays Bank plc WESCO International, Inc...... 85,790 8,820,928 Repurchase Agreement dated 06/30/21 at 0.200%, due on 19,622,255 07/01/21 with a maturity value of $4,600,026; collateralized by various Common Stock with an aggregate Total Common Stocks market value of $5,111,503...... 4,600,000 $ 4,600,000 (Cost $749,581,297) ...... 1,282,394,265 Repurchase Agreement dated 06/30/21 at 0.360%, due on 08/04/21 with a maturity value of $3,001,050; Short-Term Investment—3.2% collateralized by various Common Stock with an aggregate market value of $3,334,004...... 3,000,000 3,000,000 Repurchase Agreement—3.2% Barclays Capital, Inc. Fixed Income Clearing Corp. Repurchase Agreement dated 06/30/21 at 0.030%, due on Repurchase Agreement dated 06/30/21 at 0.000%, due on 07/01/21 with a maturity value of $12,348,644; 07/01/21 with a maturity value of $42,888,505; collateralized by U.S. Treasury Obligations at 0.000%, collateralized by U.S. Treasury Note at 0.250%, maturing maturity dates ranging from 05/15/29 - 11/15/43, and an 01/15/25, with a market value of $43,746,384...... 42,888,505 42,888,505 aggregate market value of $12,595,606...... 12,348,633 12,348,633 BofA Securities, Inc. Total Short-Term Investments Repurchase Agreement dated 06/30/21 at 0.360%, due on (Cost $42,888,505) ...... 42,888,505 08/04/21 with a maturity value of $8,002,800; collateralized by various Common Stock with an aggregate Securities Lending Reinvestments (c)—11.6% market value of $8,800,002...... 8,000,000 8,000,000 Cantor Fitzgerald & Co. Certificates of Deposit—3.8% Repurchase Agreement dated 06/30/21 at 0.050%, due on Agricultural Bank of China 07/01/21 with a maturity value of $5,000,007; 0.100%, 07/01/21 ...... 300,000 299,999 collateralized by U.S. Government Agency Obligations with Bank of Montreal (Chicago) rates ranging from 0.920% - 7.500%, maturity dates ranging 0.176%, 1M BSBY + 0.120%, 12/01/21 (d) ...... 2,000,000 2,000,025 from 11/01/23 - 06/20/71, and an aggregate market value 0.222%, 3M LIBOR + 0.060%, 08/10/21 (d) ...... 2,000,000 2,000,174 of $5,100,000...... 5,000,000 5,000,000 Barclays Bank plc Citigroup Global Markets, Inc. 0.100%, 09/09/21 ...... 6,000,000 5,999,526 Repurchase Agreement dated 06/30/21 at 0.430%, due on Cooperatieve Rabobank UA 08/04/21 with a maturity value of $5,002,090; 0.228%, 3M LIBOR + 0.040%, 01/11/22 (d) ...... 5,000,000 5,001,450 collateralized by U.S. Treasury Obligations at 0.125%, Credit Industriel et Commercial maturing 05/31/23, and various Common Stock with an Zero Coupon, 10/12/21 ...... 3,998,224 3,998,360 aggregate market value of $5,497,639...... 5,000,000 5,000,000 Industrial & Commercial Bank of China Ltd. Deutsche Bank AG, London 0.110%, 07/22/21 ...... 5,000,000 4,999,785 Repurchase Agreement dated 06/30/21 at 0.170%, due on Mitsubishi UFJ Trust and Banking Corp. (London) 07/01/21 with a maturity value of $700,003; collateralized Zero Coupon, 08/11/21 ...... 999,566 999,840 by U.S. Treasury and Foreign Obligations with rates ranging Natixis S.A. (New York) from 0.000% - 3.375%, maturity dates ranging from 0.208%, 3M LIBOR + 0.040%, 02/11/22 (d) ...... 2,000,000 1,999,968 02/01/22 - 03/11/31, and an aggregate market value of Oversea-Chinese Banking Corp., Ltd. $714,001...... 700,000 700,000 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 5,000,000 5,000,020 HSBC Bank plc Sumitomo Mitsui Banking Corp. Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.156%, 1M LIBOR + 0.060%, 12/17/21 (d) ...... 2,000,000 1,999,996 07/01/21 with a maturity value of $4,100,011; 0.158%, 3M LIBOR + 0.030%, 09/10/21 (d) ...... 4,000,000 4,000,096 collateralized by U.S. Treasury Obligations with rates ranging Sumitomo Mitsui Trust Bank, Ltd. from 0.099% - 6.125%, maturity dates ranging from Zero Coupon, 08/09/21 ...... 1,998,645 1,999,700 08/31/21 - 02/15/50, and an aggregate market value of Sumitomo Mitsui Trust Bank (London) ...... $4,183,685...... 4,100,000 4,100,000 Zero Coupon, 09/01/21 ...... 1,999,018 1,999,500 National Bank of Canada Zero Coupon, 10/15/21 ...... 1,999,119 1,999,160 Repurchase Agreement dated 06/30/21 at 0.210%, due on Svenska Handelsbanken AB 07/07/21 with a maturity value of $10,000,408; 0.145%, 3M LIBOR + 0.020%, 09/17/21 (d) ...... 6,000,000 6,000,120 collateralized by various Common Stock with an aggregate market value of $11,111,176...... 10,000,000 10,000,000 50,297,719

See accompanying notes to financial statements. BHFTI-180 Brighthouse Funds Trust I Invesco Small Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Principal Security Description Amount* Value Security Description Shares Value

Repurchase Agreements—(Continued) Mutual Funds—1.9% NBC Global Finance, Ltd. BlackRock Liquidity Funds FedFund, Institutional Shares Repurchase Agreement dated 06/30/21 at 0.245%, due on 0.030% (e) ...... 5,000,000 $ 5,000,000 07/07/21 with a maturity value of $1,200,057; Goldman Sachs Financial Square Government Fund, collateralized by U.S. Treasury Obligations with rates ranging Institutional Shares from 1.875% - 3.000%, maturity dates ranging from 0.020% (e) ...... 20,000,000 20,000,000 07/31/22 - 02/15/49, and various Common Stock with an 25,000,000 aggregate market value of $1,333,334...... 1,200,000 $ 1,200,000 Repurchase Agreement dated 06/30/21 at 0.260%, due on Total Securities Lending Reinvestments 07/07/21 with a maturity value of $3,500,177; (Cost $153,345,169) ...... 153,346,352 collateralized by U.S. Treasury Obligations with rates ranging Total Investments—111.8% from 2.125% - 3.875%, maturity dates ranging from (Cost $945,814,971) ...... 1,478,629,122 12/31/23 - 04/15/29, and various Common Stock with an Other assets and liabilities (net)—(11.8)% ...... (156,105,849) aggregate market value of $3,889,576...... 3,500,000 3,500,000 Societe Generale Net Assets—100.0% ...... $1,322,523,273 Repurchase Agreement dated 06/30/21 at 0.180%, due on 07/01/21 with a maturity value of $9,300,047; * Principal amount stated in U.S. dollars unless otherwise noted. collateralized by various Common Stock with an aggregate (a) Non-income producing security. market value of $10,333,549...... 9,300,000 9,300,000 (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Repurchase Agreement dated 06/30/21 at 0.185%, due on of securities loaned was $151,658,299 and the collateral received consisted of cash in 07/01/21 with a maturity value of $2,400,012; the amount of $153,343,206 and non-cash collateral with a value of $3,000,592. The collateralized by various Common Stock with an aggregate cash collateral investments are disclosed in the Schedule of Investments and categorized market value of $2,666,752...... 2,400,000 2,400,000 as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. 69,148,633 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. As such, this collateral Time Deposits—0.7% is excluded from the Statement of Assets and Liabilities. ABN AMRO Bank NV (c) Represents investment of cash collateral received from securities on loan as of June 30, 0.080%, 07/01/21 ...... 3,000,000 3,000,000 2021. Landesbank Baden-Wuettertemberg (London) (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 0.130%, 07/01/21 ...... 900,000 900,000 Maturity date shown for callable securities reflects the earliest possible call date. For National Bank of Canada securities based on a published reference index and spread, the index and spread are 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 5,000,000 5,000,000 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- 8,900,000 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. (e) The rate shown represents the annualized seven-day yield as of June 30, 2021.

Glossary of Abbreviations

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-181 Brighthouse Funds Trust I Invesco Small Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $ 4,520,892 $ — $— $ 4,520,892 Auto Components ...... 21,876,786 — — 21,876,786 Automobiles ...... 9,421,875 — — 9,421,875 Beverages ...... 10,850,083 — — 10,850,083 Biotechnology ...... 128,927,995 6,876,867 — 135,804,862 Building Products ...... 33,380,362 — — 33,380,362 Capital Markets ...... 25,181,325 — — 25,181,325 Chemicals ...... 28,202,027 — — 28,202,027 Commercial Services & Supplies ...... 17,641,101 — — 17,641,101 Construction & Engineering ...... 30,785,132 — — 30,785,132 Construction Materials ...... 9,040,043 — — 9,040,043 Consumer Finance ...... 5,106,520 — — 5,106,520 Distributors ...... 10,558,353 — — 10,558,353 Diversified Telecommunication Services ...... 10,590,272 — — 10,590,272 Electrical Equipment ...... 32,637,708 — — 32,637,708 Electronic Equipment, Instruments & Components ...... 37,315,754 — — 37,315,754 Equity Real Estate Investment Trusts ...... 8,201,286 — — 8,201,286 Food & Staples Retailing ...... 8,970,311 — — 8,970,311 Health Care Equipment & Supplies ...... 96,758,165 — — 96,758,165 Health Care Providers & Services ...... 9,370,566 — — 9,370,566 Health Care Technology ...... 10,001,464 — — 10,001,464 Hotels, Restaurants & Leisure ...... 72,333,411 — — 72,333,411 Household Durables ...... 10,514,517 — — 10,514,517 Insurance ...... 3,808,689 — — 3,808,689 Internet & Direct Marketing Retail ...... 20,234,580 — — 20,234,580 IT Services ...... 5,463,927 — — 5,463,927 Life Sciences Tools & Services ...... 112,965,839 — — 112,965,839 Machinery ...... 79,602,952 — — 79,602,952 Metals & Mining ...... 12,342,130 — — 12,342,130 Multiline Retail ...... 6,473,299 — — 6,473,299 Pharmaceuticals ...... 10,390,548 — — 10,390,548 Professional Services ...... 16,224,494 — — 16,224,494 Road & Rail ...... 28,636,338 — — 28,636,338 Semiconductors & Semiconductor Equipment ...... 103,903,719 — — 103,903,719 Software ...... 176,909,613 — — 176,909,613 Special Purpose Acquisition Companies ...... 5,260,085 — — 5,260,085 Specialty Retail ...... 41,492,982 — — 41,492,982 Trading Companies & Distributors ...... 19,622,255 — — 19,622,255 Total Common Stocks ...... 1,275,517,398 6,876,867 — 1,282,394,265 Total Short-Term Investment* ...... — 42,888,505 — 42,888,505

See accompanying notes to financial statements. BHFTI-182 Brighthouse Funds Trust I Invesco Small Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Securities Lending Reinvestments Certificates of Deposit ...... $ — $ 50,297,719 $— $ 50,297,719 Repurchase Agreements ...... — 69,148,633 — 69,148,633 Time Deposits ...... — 8,900,000 — 8,900,000 Mutual Funds ...... 25,000,000 — — 25,000,000 Total Securities Lending Reinvestments ...... 25,000,000 128,346,352 — 153,346,352 Total Investments ...... $1,300,517,398 $ 178,111,724 $— $1,478,629,122 Collateral for Securities Loaned (Liability) ...... $ — $(153,343,206) $— $ (153,343,206)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-183 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—46.9% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—25.0% Agency Sponsored Mortgage-Backed—(Continued) Fannie Mae 20 Yr. Pool Fannie Mae Pool 4.000%, 02/01/31 ...... 669,685 $ 719,764 4.000%, 12/01/40 ...... 145,386 $ 158,673 6.000%, 07/01/28 ...... 141,126 158,142 4.000%, 07/01/42 ...... 1,001,886 1,092,750 Fannie Mae 30 Yr. Pool 5.500%, 01/01/58 ...... 2,754,428 3,279,428 3.500%, 07/01/42 ...... 813,267 881,003 Fannie Mae REMICS (CMO) 3.500%, 08/01/42 ...... 510,521 540,117 Zero Coupon, 09/25/43 (b) ...... 1,015,449 924,118 3.500%, 07/01/50 ...... 3,174,765 3,409,452 Zero Coupon, 10/25/43 (b) ...... 547,668 476,347 4.000%, 06/01/47 ...... 1,292,117 1,414,506 Zero Coupon, 12/25/43 (b) ...... 1,082,675 961,815 4.500%, 02/01/40 ...... 252,836 282,050 0.592%, 1M LIBOR + 0.500%, 05/25/35 (a) ...... 501,676 502,228 5.000%, 09/01/35 ...... 565,073 638,277 0.592%, 1M LIBOR + 0.500%, 10/25/42 (a) ...... 397,299 402,009 6.000%, 12/01/39 ...... 199,746 236,641 0.677%, 03/25/27 (a) ...... 40,997 41,213 Fannie Mae ARM Pool 0.692%, 1M LIBOR + 0.600%, 10/25/43 (a) ...... 1,253,556 1,276,377 0.566%, 1M LIBOR + 0.480%, 09/01/24 (a) ...... 3,467,874 3,466,436 0.692%, 1M LIBOR + 0.600%, 12/25/43 (a) ...... 1,291,346 1,304,641 Fannie Mae Benchmark REMIC (CMO) 0.992%, 1M LIBOR + 0.900%, 03/25/38 (a) ...... 155,009 158,772 5.500%, 06/25/37 ...... 491,523 571,700 1.092%, 1M LIBOR + 1.000%, 08/25/32 (a) ...... 399,925 409,154 Fannie Mae Grantor Trust 3.500%, 02/25/43 ...... 2,645,402 2,788,717 2.898%, 06/25/27 ...... 3,924,550 4,270,489 3.500%, 11/25/57 ...... 4,013,058 4,278,944 Fannie Mae Pool 5.000%, 03/25/40 ...... 3,160,374 3,575,967 2.450%, 11/01/22 ...... 2,906,511 2,960,042 5.500%, 12/25/35 ...... 829,672 932,484 2.480%, 10/01/28 ...... 8,778,240 9,389,860 6.000%, 01/25/36 ...... 1,024,810 1,136,047 2.640%, 04/01/23 ...... 1,726,875 1,775,099 6.439%, -1 x 1M LIBOR + 6.530%, 01/25/41 (a) (c) .... 2,621,559 571,456 2.640%, 05/01/23 ...... 2,058,317 2,120,480 6.500%, 07/18/28 ...... 71,598 80,689 2.690%, 10/01/23 ...... 2,000,000 2,078,507 Fannie Mae-ACES 2.700%, 05/01/23 ...... 5,000,000 5,158,148 0.670%, 10/25/30 ...... 2,873,128 2,816,873 2.720%, 03/01/23 ...... 2,806,247 2,884,539 1.000%, 11/25/33 ...... 1,850,502 1,831,113 2.730%, 07/01/28 ...... 2,951,734 3,209,838 1.200%, 10/25/30 ...... 995,000 983,566 2.810%, 09/01/31 ...... 1,464,924 1,599,623 2.021%, 10/25/30 (a) (c) ...... 16,828,410 1,871,595 2.890%, 05/01/27 ...... 1,821,725 1,980,093 2.124%, 11/25/33 (a) (c) ...... 8,260,517 1,134,199 2.970%, 06/01/30 ...... 2,750,000 3,016,124 2.207%, 01/25/22 ...... 1,607,251 1,615,650 2.980%, 09/01/36 ...... 1,373,599 1,508,471 2.488%, 05/25/26 ...... 1,600,000 1,701,527 3.000%, 01/01/43 ...... 2,354,658 2,512,401 2.559%, 12/25/26 (a) ...... 907,214 968,871 3.000%, 07/01/60 ...... 3,778,527 4,009,178 2.723%, 10/25/24 ...... 1,818,231 1,911,288 3.092%, 07/01/22 (a) ...... 608,089 615,988 3.061%, 05/25/27 (a) ...... 3,090,000 3,392,045 3.110%, 12/01/24 ...... 1,461,767 1,570,773 3.103%, 07/25/24 (a) ...... 1,237,728 1,317,459 3.235%, 10/01/26 ...... 1,316,769 1,446,814 3.147%, 03/25/28 (a) ...... 2,098,000 2,328,207 3.260%, 12/01/26 ...... 921,179 1,012,007 3.181%, 06/25/27 (a) ...... 3,103,297 3,424,731 3.290%, 08/01/26 ...... 1,971,540 2,160,826 3.191%, 02/25/30 (a) ...... 1,504,000 1,691,338 3.340%, 02/01/27 ...... 1,500,000 1,659,375 3.276%, 04/25/29 (a) ...... 2,736,000 3,069,941 3.380%, 12/01/23 ...... 1,883,707 2,012,002 3.346%, 03/25/24 (a) ...... 1,983,959 2,107,678 3.420%, 05/01/22 (a) ...... 370,011 371,999 3.482%, 07/25/28 (a) ...... 3,757,000 4,241,442 3.450%, 01/01/24 ...... 929,069 990,378 3.501%, 01/25/24 (a) ...... 1,418,470 1,507,256 3.490%, 09/01/23 ...... 3,640,927 3,823,614 3.673%, 09/25/28 (a) ...... 3,075,000 3,513,306 3.500%, 08/01/26 ...... 113,967 120,518 Freddie Mac 20 Yr. Gold Pool 3.500%, 02/01/33 ...... 2,246,348 2,410,611 3.500%, 03/01/32 ...... 581,970 620,753 3.500%, 05/01/33 ...... 2,285,825 2,453,463 Freddie Mac 30 Yr. Gold Pool 3.500%, 07/01/43 ...... 1,697,332 1,831,668 4.000%, 08/01/42 ...... 1,890,837 2,060,673 3.500%, 03/01/60 ...... 3,212,701 3,490,993 4.000%, 05/01/43 ...... 136,180 145,129 3.550%, 02/01/30 ...... 1,500,000 1,695,567 4.000%, 06/01/43 ...... 371,097 397,899 3.560%, 03/01/24 ...... 6,664,954 7,143,805 4.000%, 08/01/43 ...... 3,502,425 3,843,456 3.570%, 07/01/26 ...... 3,954,524 4,387,547 5.000%, 08/01/39 ...... 525,665 601,469 3.670%, 07/01/23 ...... 2,500,000 2,624,364 Freddie Mac ARM Non-Gold Pool 3.760%, 11/01/23 ...... 1,042,454 1,104,476 2.484%, 12M LIBOR + 1.850%, 07/01/40 (a) ...... 554,728 587,041 3.970%, 07/01/21 ...... 4,220,233 4,219,381 Freddie Mac Gold Pool 3.970%, 08/01/33 ...... 5,041,628 5,297,587 3.500%, 12/01/32 ...... 1,880,730 2,015,870 3.990%, 02/01/28 ...... 1,644,246 1,889,493 3.500%, 01/01/33 ...... 2,648,946 2,841,720 4.000%, 10/01/32 ...... 680,983 735,054 3.500%, 03/01/33 ...... 2,970,559 3,189,543

See accompanying notes to financial statements. BHFTI-184 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—(Continued) Agency Sponsored Mortgage-Backed—(Continued) Freddie Mac Gold Pool Ginnie Mae II ARM Pool 3.500%, 04/01/33 ...... 4,004,849 $ 4,299,980 2.875%, 1Y H15 + 1.500%, 04/20/41 (a) ...... 191,601 $ 200,332 3.500%, 05/01/33 ...... 1,468,411 1,576,644 Ginnie Mae II Pool 3.500%, 06/01/43 ...... 1,429,601 1,534,139 3.947%, 04/20/63 (a) ...... 122,236 122,419 4.000%, 09/01/32 ...... 315,692 337,852 Government National Mortgage Association (CMO) 4.000%, 11/01/32 ...... 1,718,800 1,855,148 0.407%, 1M LIBOR + 0.300%, 08/20/60 (a) ...... 948 948 4.000%, 12/01/32 ...... 1,139,778 1,232,785 0.407%, 1M LIBOR + 0.300%, 11/20/62 (a) ...... 8,020 8,025 4.000%, 01/01/33 ...... 71,405 76,528 0.447%, 1M LIBOR + 0.340%, 12/20/62 (a) ...... 1,250,074 1,251,991 4.000%, 02/01/33 ...... 313,499 337,025 0.507%, 1M LIBOR + 0.400%, 02/20/62 (a) ...... 134,225 134,359 4.000%, 01/01/46 ...... 1,838,239 2,022,040 0.517%, 1M LIBOR + 0.410%, 03/20/63 (a) ...... 391,757 392,882 5.000%, 02/01/34 ...... 220,237 240,636 0.527%, 1M LIBOR + 0.420%, 02/20/63 (a) ...... 977,202 981,666 Freddie Mac Multifamily Structured Pass-Through Certificates 0.577%, 1M LIBOR + 0.470%, 03/20/63 (a) ...... 1,946,333 1,953,075 2.522%, 01/25/23 ...... 1,685,079 1,719,434 0.577%, 1M LIBOR + 0.470%, 07/20/64 (a) ...... 2,323,164 2,331,999 2.838%, 09/25/22 ...... 488,814 499,051 0.577%, 1M LIBOR + 0.470%, 09/20/64 (a) ...... 1,263,642 1,271,027 3.117%, 06/25/27 ...... 2,487,000 2,744,515 0.587%, 1M LIBOR + 0.480%, 04/20/63 (a) ...... 4,296,264 4,311,836 3.243%, 04/25/27 ...... 1,996,000 2,214,276 0.593%, 1M LIBOR + 0.500%, 09/20/37 (a) ...... 135,423 135,423 3.303%, 11/25/27 (a) ...... 1,755,000 1,963,611 0.607%, 1M LIBOR + 0.500%, 01/20/63 (a) ...... 27,147 27,279 3.326%, 05/25/27 ...... 1,072,000 1,192,672 0.607%, 1M LIBOR + 0.500%, 04/20/63 (a) ...... 3,874,137 3,899,233 3.336%, 04/25/28 (a) ...... 1,790,000 1,993,540 0.607%, 1M LIBOR + 0.500%, 06/20/64 (a) ...... 3,715,235 3,743,856 3.490%, 01/25/24 ...... 4,000,000 4,270,679 0.607%, 1M LIBOR + 0.500%, 07/20/64 (a) ...... 1,623,360 1,631,106 3.690%, 01/25/29 ...... 397,000 458,233 0.657%, 1M LIBOR + 0.550%, 04/20/62 (a) ...... 1,423 1,428 3.850%, 05/25/28 (a) ...... 7,385,000 8,547,023 0.707%, 1M LIBOR + 0.600%, 04/20/64 (a) ...... 8,848,171 8,928,850 3.900%, 08/25/28 (a) ...... 3,170,000 3,692,303 0.757%, 1M LIBOR + 0.650%, 07/20/63 (a) ...... 2,979,976 2,992,474 Freddie Mac REMICS (CMO) 0.757%, 1M LIBOR + 0.650%, 01/20/64 (a) ...... 957,637 964,752 0.523%, 1M LIBOR + 0.450%, 08/15/42 (a) ...... 2,686,184 2,714,907 0.757%, 1M LIBOR + 0.650%, 02/20/64 (a) ...... 3,195,203 3,219,221 0.753%, 1M LIBOR + 0.680%, 11/15/37 (a) ...... 467,142 476,540 0.757%, 1M LIBOR + 0.650%, 03/20/64 (a) ...... 863,286 870,043 0.773%, 1M LIBOR + 0.700%, 03/15/24 (a) ...... 116,383 116,854 0.797%, 1M LIBOR + 0.690%, 02/20/64 (a) ...... 1,392,313 1,411,365 1.423%, 1M LIBOR + 1.350%, 03/15/38 (a) ...... 600,000 644,520 0.807%, 1M LIBOR + 0.700%, 09/20/63 (a) ...... 2,591,460 2,609,810 3.000%, 02/15/26 ...... 592,401 617,773 0.857%, 1M LIBOR + 0.750%, 09/20/63 (a) ...... 2,948,104 2,966,697 3.500%, 08/15/39 ...... 314,253 317,226 1.107%, 1M LIBOR + 1.000%, 12/20/66 (a) ...... 1,199,580 1,229,297 3.500%, 06/15/48 ...... 693,219 698,356 1.650%, 02/20/63 ...... 348,627 350,464 4.000%, 05/15/48 ...... 2,919,460 3,117,084 1.650%, 04/20/63 ...... 237,155 238,803 5.000%, 08/15/35 ...... 937,116 1,067,045 4.480%, 04/20/43 (a) ...... 1,214,331 1,340,835 6.000%, 07/15/35 ...... 2,712,857 3,169,616 4.500%, 01/16/25 ...... 1,016,286 1,068,797 6.000%, 03/15/36 ...... 2,074,834 2,471,845 4.865%, 11/20/42 (a) ...... 4,521,809 5,135,194 6.297%, -1 x 1M LIBOR + 6.370%, 10/15/37 (a) (c) .... 2,305,692 522,786 5.000%, 12/20/33 ...... 692,155 764,807 6.327%, -1 x 1M LIBOR + 6.400%, 11/15/36 (a) (c) .... 1,254,659 111,859 5.000%, 06/16/39 ...... 179,225 185,861 6.500%, 05/15/28 ...... 162,127 182,364 5.000%, 07/20/39 ...... 1,313,935 1,498,184 6.500%, 03/15/37 ...... 446,808 535,324 5.000%, 10/20/39 ...... 1,338,910 1,514,957 Freddie Mac STACR Trust (CMO) 5.137%, 06/20/40 (a) ...... 1,823,616 2,076,205 3.500%, 05/25/57 ...... 5,218,209 5,555,270 5.500%, 07/16/33 (c) ...... 562,027 58,423 3.500%, 06/25/57 ...... 4,571,121 4,882,780 Uniform Mortgage-Backed Securities 15 Yr. Pool Freddie Mac Strips (CMO) 2.000%, TBA (d) ...... 3,035,000 3,121,668 Zero Coupon, 09/15/43 (b) ...... 546,036 475,404 Uniform Mortgage-Backed Securities 30 Yr. Pool 3.000%, 01/15/43 ...... 2,197,211 2,281,699 2.500%, TBA (d) ...... 39,630,000 40,850,575 FREMF Mortgage Trust 411,987,736 3.696%, 11/25/49 (144A) (a) ...... 1,700,000 1,847,774 3.800%, 11/25/49 (144A) (a) ...... 2,000,000 2,146,043 Federal Agencies—0.3% 3.990%, 07/25/49 (144A) (a) ...... 1,635,000 1,721,277 Tennessee Valley Authority 4.208%, 11/25/47 (144A) (a) ...... 1,577,000 1,697,432 5.880%, 04/01/36 ...... 1,600,000 2,378,198 Ginnie Mae II 30 Yr. Pool Tennessee Valley Authority Generic Strip 2.500%, 12/20/50 ...... 5,426,985 5,620,260 Zero Coupon, 03/15/32 ...... 1,000,000 830,287 2.500%, 01/20/51 ...... 12,963,212 13,451,103 Tennessee Valley Authority Principal Strip 3.000%, 02/20/51 ...... 1,851,292 1,967,386 Zero Coupon, 11/01/25 ...... 1,000,000 961,762 3.500%, 01/20/51 ...... 3,560,313 3,911,493 4.500%, 11/20/49 ...... 2,857,152 3,118,686

See accompanying notes to financial statements. BHFTI-185 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Federal Agencies—(Continued) U.S. Treasury—(Continued) Tennessee Valley Authority Principal Strip U.S. Treasury Coupon Strips Zero Coupon, 06/15/35 ...... 750,000 $ 552,695 Zero Coupon, 11/15/31 ...... 3,000,000 $ 2,521,823 4,722,942 Zero Coupon, 02/15/32 ...... 12,900,000 10,763,895 Zero Coupon, 05/15/32 ...... 800,000 663,348 U.S. Treasury—21.6% Zero Coupon, 08/15/33 (e) ...... 400,000 321,643 U.S. Treasury Bonds Zero Coupon, 11/15/33 ...... 1,000,000 799,433 1.125%, 05/15/40 ...... 1,210,000 1,044,570 Zero Coupon, 02/15/34 (e) ...... 2,000,000 1,588,322 1.375%, 08/15/50 ...... 380,000 320,343 Zero Coupon, 08/15/34 ...... 2,600,000 2,039,425 1.625%, 11/15/50 (e) ...... 6,800,000 6,107,250 Zero Coupon, 05/15/35 ...... 4,000,000 3,081,643 1.875%, 02/15/51 ...... 16,638,000 15,878,891 U.S. Treasury Inflation Indexed Bond 2.000%, 02/15/50 ...... 4,827,000 4,742,150 1.750%, 01/15/28 (f) ...... 637,200 770,033 2.250%, 08/15/46 ...... 3,987,000 4,122,496 U.S. Treasury Inflation Indexed Note 2.250%, 08/15/49 ...... 170,000 176,109 0.125%, 01/15/22 (f) ...... 1,769,385 1,809,196 2.375%, 11/15/49 ...... 975,000 1,038,223 U.S. Treasury Notes 2.500%, 02/15/45 ...... 6,750,000 7,303,184 0.375%, 12/31/25 ...... 20,000,000 19,621,094 2.750%, 11/15/42 ...... 9,475,000 10,669,368 0.375%, 09/30/27 ...... 3,560,000 3,400,913 2.750%, 08/15/47 ...... 8,000,000 9,100,000 0.500%, 02/28/26 (e) ...... 12,195,000 12,010,170 2.875%, 05/15/43 ...... 10,415,000 11,978,064 0.625%, 08/15/30 ...... 835,000 777,920 2.875%, 08/15/45 ...... 7,700,000 8,901,320 0.875%, 11/15/30 ...... 5,770,000 5,486,909 2.875%, 05/15/49 (e) ...... 27,000 31,616 1.125%, 09/30/21 ...... 4,640,000 4,652,341 3.000%, 11/15/44 ...... 238,000 280,189 1.250%, 03/31/28 ...... 6,870,000 6,897,104 3.000%, 02/15/48 ...... 470,000 560,255 1.500%, 02/15/30 ...... 530,000 535,238 3.125%, 05/15/48 ...... 1,942,000 2,368,406 1.625%, 02/15/26 ...... 782,300 810,903 3.500%, 02/15/39 ...... 450,000 562,904 1.625%, 08/15/29 (e) ...... 1,080,000 1,104,595 3.625%, 08/15/43 ...... 4,950,000 6,375,445 1.625%, 05/15/31 (e) ...... 175,000 177,680 3.625%, 02/15/44 ...... 4,325,000 5,590,231 1.750%, 02/28/22 ...... 9,300,000 9,403,899 3.750%, 11/15/43 ...... 3,581,000 4,700,622 1.750%, 12/31/24 ...... 14,695,900 15,292,921 4.250%, 05/15/39 ...... 200,000 273,695 1.750%, 12/31/26 ...... 2,164,500 2,255,984 4.375%, 02/15/38 ...... 720,000 991,097 1.750%, 11/15/29 (e) ...... 1,540,000 1,589,569 4.375%, 05/15/41 ...... 1,200,000 1,685,953 2.000%, 06/30/24 ...... 2,308,000 2,413,663 5.250%, 02/15/29 (e) ...... 500,000 644,805 2.000%, 11/15/26 ...... 910,000 960,334 6.000%, 02/15/26 ...... 2,525,000 3,121,531 2.125%, 02/29/24 ...... 663,000 693,690 U.S. Treasury Coupon Strips 2.250%, 04/15/22 ...... 9,000,000 9,153,984 Zero Coupon, 05/15/22 (e) ...... 4,560,000 4,557,291 2.750%, 05/31/23 ...... 663,000 694,803 Zero Coupon, 08/15/22 (e) ...... 1,800,000 1,797,811 2.750%, 02/15/24 ...... 2,300,000 2,442,582 Zero Coupon, 11/15/22 (e) ...... 1,250,000 1,247,031 2.875%, 04/30/25 ...... 450,000 488,074 Zero Coupon, 02/15/23 ...... 3,035,000 3,024,908 2.875%, 05/31/25 (e) ...... 4,920,000 5,341,275 Zero Coupon, 05/15/23 (e) ...... 47,445,000 47,248,201 2.875%, 05/15/28 ...... 6,936,100 7,705,032 Zero Coupon, 08/15/23 (e) ...... 2,220,000 2,206,994 356,814,428 Zero Coupon, 11/15/23 ...... 796,000 789,664 Total U.S. Treasury & Government Agencies Zero Coupon, 02/15/24 ...... 6,404,000 6,338,343 (Cost $738,876,121) ...... 773,525,106 Zero Coupon, 08/15/24 (e) ...... 2,500,000 2,459,944 Zero Coupon, 11/15/24 (e) ...... 1,500,000 1,471,767 Zero Coupon, 02/15/25 ...... 2,000,000 1,952,353 Corporate Bonds & Notes—34.3% Zero Coupon, 05/15/25 ...... 5,500,000 5,349,146 Zero Coupon, 11/15/26 ...... 1,014,129 958,430 Aerospace/Defense—1.0% Zero Coupon, 08/15/27 ...... 400,000 371,767 BAE Systems plc Zero Coupon, 11/15/27 ...... 570,000 527,241 1.900%, 02/15/31 (144A) ...... 720,000 693,889 Zero Coupon, 05/15/28 ...... 15,030,000 13,731,967 3.000%, 09/15/50 (144A) ...... 332,000 324,800 Zero Coupon, 08/15/28 ...... 250,000 227,198 4.750%, 10/11/21 (144A) ...... 1,000,000 1,011,519 Zero Coupon, 02/15/30 ...... 6,300,000 5,519,893 Boeing Co. (The) Zero Coupon, 05/15/30 ...... 700,000 609,775 1.167%, 02/04/23 ...... 725,000 728,005 Zero Coupon, 08/15/30 (e) ...... 3,925,000 3,399,625 1.433%, 02/04/24 ...... 1,480,000 1,483,917 Zero Coupon, 11/15/30 ...... 5,425,000 4,667,787 1.950%, 02/01/24 ...... 870,000 890,849 Zero Coupon, 02/15/31 ...... 1,775,000 1,519,137 2.196%, 02/04/26 ...... 905,000 913,650

See accompanying notes to financial statements. BHFTI-186 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Aerospace/Defense—(Continued) Airlines—(Continued) Boeing Co. (The) United Airlines Pass-Through Trust 2.750%, 02/01/26 ...... 840,000 $ 877,427 3.100%, 10/07/28 ...... 786,459 $ 793,738 3.100%, 05/01/26 ...... 360,000 380,578 3.500%, 03/01/30 ...... 1,146,733 1,199,338 3.250%, 03/01/28 ...... 659,000 691,442 3.700%, 03/01/30 ...... 1,082,240 1,102,224 4.508%, 05/01/23 ...... 1,803,000 1,922,169 4.000%, 04/11/26 ...... 401,057 422,814 4.875%, 05/01/25 ...... 435,000 487,404 4.150%, 08/25/31 ...... 1,179,614 1,290,187 5.040%, 05/01/27 ...... 335,000 386,532 4.300%, 08/15/25 ...... 565,354 597,929 5.150%, 05/01/30 ...... 675,000 799,305 4.600%, 03/01/26 ...... 263,771 272,313 5.705%, 05/01/40 ...... 550,000 708,336 9,803,313 L3Harris Technologies, Inc. 1.800%, 01/15/31 ...... 640,000 620,605 Auto Manufacturers—0.7% 3.832%, 04/27/25 ...... 600,000 656,994 General Motors Co. Lockheed Martin Corp. 6.125%, 10/01/25 ...... 385,000 455,764 4.500%, 05/15/36 ...... 450,000 562,986 General Motors Financial Co., Inc. Northrop Grumman Corp. 1.250%, 01/08/26 ...... 1,376,000 1,366,830 3.850%, 04/15/45 ...... 182,000 209,262 2.350%, 01/08/31 (e) ...... 919,000 906,777 Raytheon Technologies Corp. 2.700%, 06/10/31 ...... 720,000 722,588 3.200%, 03/15/24 ...... 251,000 267,010 4.350%, 01/17/27 ...... 332,000 373,265 3.750%, 11/01/46 ...... 550,000 619,987 Hyundai Capital America 4.350%, 04/15/47 ...... 133,000 163,472 1.150%, 11/10/22 (144A) ...... 1,183,000 1,190,878 4.500%, 06/01/42 ...... 550,000 684,766 1.300%, 01/08/26 (144A) ...... 325,000 321,181 16,084,904 1.500%, 06/15/26 (144A) ...... 645,000 639,947 1.800%, 10/15/25 (144A) ...... 380,000 385,559 Agriculture—0.3% 1.800%, 01/10/28 (144A) ...... 635,000 629,318 Altria Group, Inc. 2.375%, 10/15/27 (144A) ...... 400,000 408,938 2.450%, 02/04/32 ...... 1,250,000 1,208,852 3.000%, 02/10/27 (144A) ...... 240,000 254,257 BAT Capital Corp. Nissan Motor Co., Ltd. 2.259%, 03/25/28 ...... 465,000 461,512 4.345%, 09/17/27 (144A) ...... 2,254,000 2,477,677 3.734%, 09/25/40 ...... 310,000 302,905 4.810%, 09/17/30 (144A) ...... 868,000 980,007 3.984%, 09/25/50 ...... 485,000 472,360 Volkswagen Group of America Finance LLC 4.540%, 08/15/47 ...... 55,000 58,488 1.625%, 11/24/27 (144A) ...... 560,000 553,171 BAT International Finance plc 11,666,157 1.668%, 03/25/26 (e) ...... 345,000 344,807 Bunge, Ltd. Finance Corp. Banks—8.9% 2.750%, 05/14/31 ...... 1,205,000 1,218,220 ABN AMRO Bank NV Cargill, Inc. 1.542%, 1Y H15 + 0.800%, 06/16/27 (144A) (a) ...... 1,100,000 1,092,583 2.125%, 04/23/30 (144A) ...... 1,049,000 1,062,294 4.750%, 07/28/25 (144A) ...... 500,000 560,468 Reynolds American, Inc. AIB Group plc 7.000%, 08/04/41 ...... 570,000 748,876 4.263%, 3M LIBOR + 1.874%, 04/10/25 (144A) (a) (e) . . 425,000 457,855 5,878,314 4.750%, 10/12/23 (144A) ...... 1,340,000 1,455,515 ANZ New Zealand International, Ltd. Airlines—0.6% 2.550%, 02/13/30 (144A) ...... 606,000 631,784 Air Canada Pass-Through Trust ASB Bank, Ltd. 3.300%, 01/15/30 (144A) ...... 446,464 451,682 3.125%, 05/23/24 (144A) ...... 685,000 730,859 3.550%, 01/15/30 (144A) ...... 633,072 616,025 Australia & New Zealand Banking Group, Ltd. 4.125%, 05/15/25 (144A) ...... 763,043 785,741 4.400%, 05/19/26 (144A) ...... 200,000 225,390 British Airways Pass-Through Trust Banco Nacional de Panama 3.300%, 12/15/32 (144A) ...... 545,176 554,567 2.500%, 08/11/30 (144A) ...... 950,000 920,103 3.800%, 09/20/31 (144A) ...... 549,963 574,691 Banco Santander S.A. 4.125%, 09/20/31 (144A) ...... 736,208 748,532 1.849%, 03/25/26 ...... 600,000 606,399 Continental Airlines Pass-Through Trust 2.746%, 05/28/25 ...... 600,000 632,279 4.000%, 10/29/24 ...... 125,708 132,928 2.749%, 12/03/30 ...... 400,000 396,247 Spirit Airlines Pass-Through Trust Bank of America Corp. 3.375%, 02/15/30 ...... 256,760 260,604 1.658%, SOFR + 0.910%, 03/11/27 (a) ...... 2,045,000 2,061,249 1.898%, SOFR + 1.530%, 07/23/31 (a) ...... 445,000 432,650

See accompanying notes to financial statements. BHFTI-187 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Banks—(Continued) Bank of America Corp. Credit Agricole S.A. 2.496%, 3M LIBOR + 0.990%, 02/13/31 (a) ...... 1,675,000 $ 1,710,164 1.247%, SOFR + 0.892%, 01/26/27 (144A) (a) ...... 1,183,000 $ 1,164,703 2.676%, SOFR + 1.930%, 06/19/41 (a) ...... 3,062,000 2,971,669 1.907%, SOFR + 1.676%, 06/16/26 (144A) (a) ...... 750,000 764,656 3.366%, 3M LIBOR + 0.810%, 01/23/26 (a) ...... 600,000 646,917 2.811%, 01/11/41 (144A) † ...... 410,000 389,010 3.419%, 3M LIBOR + 1.040%, 12/20/28 (a) ...... 2,351,000 2,560,496 4.375%, 03/17/25 (144A) ...... 295,000 324,397 3.550%, 3M LIBOR + 0.780%, 03/05/24 (a) ...... 2,562,000 2,691,834 Credit Suisse AG 3.705%, 3M LIBOR + 1.512%, 04/24/28 (a) ...... 2,500,000 2,764,455 2.950%, 04/09/25 ...... 510,000 546,053 3.970%, 3M LIBOR + 1.070%, 03/05/29 (a) ...... 1,400,000 1,578,146 Credit Suisse Group AG 4.000%, 01/22/25 ...... 1,071,000 1,175,383 1.305%, SOFR + 0.980%, 02/02/27 (144A) (a) ...... 1,615,000 1,581,813 4.250%, 10/22/26 ...... 520,000 587,165 2.193%, SOFR + 2.044%, 06/05/26 (144A) (a) ...... 360,000 368,608 Bank of Montreal 4.282%, 01/09/28 (144A) ...... 783,000 870,999 3.803%, 5Y USD Swap + 1.432%, 12/15/32 (a) ...... 433,000 477,378 Danske Bank A/S Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) 1.171%, 1Y H15 + 1.030%, 12/08/23 (144A) (a) ...... 1,432,000 1,439,184 4.100%, 09/09/23 (144A) ...... 364,000 392,716 2.000%, 09/08/21 (144A) ...... 366,000 367,164 Banque Federative du Credit Mutuel S.A. 2.700%, 03/02/22 (144A) ...... 372,000 377,897 3.750%, 07/20/23 (144A) ...... 1,070,000 1,140,163 Deutsche Bank AG Barclays plc 2.129%, SOFR + 1.870%, 11/24/26 (a) ...... 615,000 624,045 1.007%, 1Y H15 + 0.800%, 12/10/24 (a) ...... 1,102,000 1,105,930 2.222%, SOFR + 2.159%, 09/18/24 (a) ...... 1,145,000 1,175,939 3.650%, 03/16/25 ...... 254,000 275,026 3.035%, SOFR + 1.718%, 05/28/32 (a) ...... 1,351,000 1,373,761 4.338%, 3M LIBOR + 1.356%, 05/16/24 (a) ...... 500,000 533,093 4.250%, 10/14/21 ...... 900,000 909,759 5.200%, 05/12/26 ...... 250,000 285,535 Discover Bank BBVA USA 4.250%, 03/13/26 ...... 1,229,000 1,377,959 2.500%, 08/27/24 ...... 580,000 610,338 Fifth Third Bancorp BNP Paribas S.A. 8.250%, 03/01/38 ...... 200,000 333,895 1.323%, SOFR + 1.004%, 01/13/27 (144A) (a) ...... 318,000 314,147 Goldman Sachs Group, Inc. (The) 2.219%, SOFR + 2.074%, 06/09/26 (144A) (a) ...... 402,000 414,304 1.431%, SOFR + 0.798%, 03/09/27 (a) ...... 2,000,000 1,994,362 2.588%, 5Y H15 + 2.050%, 08/12/35 (144A) (a) ...... 950,000 928,067 1.992%, SOFR + 1.090%, 01/27/32 (a) ...... 1,800,000 1,748,150 3.052%, SOFR + 1.507%, 01/13/31 (144A) (a) ...... 815,000 859,263 3.500%, 11/16/26 ...... 1,300,000 1,413,622 BNZ International Funding, Ltd. 3.691%, 3M LIBOR + 1.510%, 06/05/28 (a) ...... 2,614,000 2,886,140 2.650%, 11/03/22 (144A) ...... 842,000 868,759 4.223%, 3M LIBOR + 1.301%, 05/01/29 (a) ...... 820,000 935,206 2.900%, 02/21/22 (144A) ...... 300,000 305,243 4.411%, 3M LIBOR + 1.430%, 04/23/39 (a) ...... 445,000 541,803 BPCE S.A. HSBC Holdings plc 1.000%, 01/20/26 (144A) ...... 570,000 562,106 2.357%, SOFR + 1.947%, 08/18/31 (a) (e) ...... 890,000 890,607 1.652%, SOFR + 1.520%, 10/06/26 (144A) (a) ...... 534,000 536,357 3.900%, 05/25/26 ...... 200,000 222,426 2.277%, SOFR + 1.312%, 01/20/32 (144A) (a) ...... 415,000 407,094 4.041%, 3M LIBOR + 1.546%, 03/13/28 (a) ...... 432,000 479,114 3.375%, 12/02/26 ...... 700,000 763,648 4.250%, 03/14/24 ...... 500,000 541,629 4.625%, 07/11/24 (144A) ...... 400,000 439,628 4.250%, 08/18/25 ...... 300,000 332,388 Citigroup, Inc. 4.375%, 11/23/26 ...... 1,006,000 1,134,366 1.122%, SOFR + 0.765%, 01/28/27 (a) ...... 1,044,000 1,029,218 6.100%, 01/14/42 ...... 370,000 539,027 2.561%, SOFR + 1.167%, 05/01/32 (a) ...... 915,000 931,426 6.500%, 09/15/37 ...... 930,000 1,293,655 3.106%, SOFR + 2.842%, 04/08/26 (a) ...... 1,400,000 1,498,270 Industrial & Commercial Bank of China, Ltd. 3.668%, 3M LIBOR + 1.390%, 07/24/28 (a) ...... 907,000 1,000,313 2.452%, 10/20/21 ...... 750,000 753,592 3.875%, 03/26/25 ...... 1,300,000 1,426,183 ING Groep NV 3.875%, 5Y H15 + 3.417%, 02/18/26 (a) ...... 245,000 250,206 1.726%, SOFR + 1.005%, 04/01/27 (a) ...... 285,000 287,433 3.878%, 3M LIBOR + 1.168%, 01/24/39 (a) ...... 150,000 172,823 4.100%, 10/02/23 ...... 1,270,000 1,369,591 3.980%, 3M LIBOR + 1.338%, 03/20/30 (a) ...... 1,700,000 1,925,499 KeyCorp 4.075%, 3M LIBOR + 1.192%, 04/23/29 (a) ...... 667,000 756,475 4.150%, 10/29/25 ...... 275,000 309,600 4.300%, 11/20/26 ...... 750,000 846,644 Lloyds Banking Group plc 4.400%, 06/10/25 ...... 566,000 632,120 1.627%, 1Y H15 + 0.850%, 05/11/27 (a) ...... 720,000 720,372 4.450%, 09/29/27 ...... 1,294,000 1,478,390 2.907%, 3M LIBOR + 0.810%, 11/07/23 (a) ...... 300,000 309,333 Citizens Financial Group, Inc. 4.375%, 03/22/28 ...... 633,000 726,965 2.638%, 09/30/32 ...... 193,000 193,004 4.450%, 05/08/25 ...... 540,000 605,971 Cooperative Rabobank UA 4.500%, 11/04/24 ...... 685,000 757,765 3.750%, 07/21/26 ...... 513,000 564,920 4.582%, 12/10/25 ...... 400,000 449,454 4.375%, 08/04/25 ...... 424,000 473,434 Macquarie Bank, Ltd. 4.625%, 12/01/23 ...... 872,000 953,515 3.052%, 5Y H15 + 1.700%, 03/03/36 (144A) (a) (e) .... 825,000 819,872

See accompanying notes to financial statements. BHFTI-188 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Banks—(Continued) Macquarie Bank, Ltd. Standard Chartered plc 4.000%, 07/29/25 (144A) ...... 250,000 $ 277,507 1.456%, 1Y H15 + 1.000%, 01/14/27 (144A) (a) ...... 365,000 $ 361,508 Macquarie Group, Ltd. 4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (a) ..... 1,200,000 1,224,462 5.033%, 3M LIBOR + 1.750%, 01/15/30 (144A) (a) ..... 1,820,000 2,158,485 Standard Chartered plc Mitsubishi UFJ Financial Group, Inc. 2.819%, 3M LIBOR + 1.209%, 01/30/26 (144A) (a) ..... 740,000 776,657 2.048%, 07/17/30 ...... 1,020,000 1,016,453 4.866%, 5Y USD ICE Swap + 1.970%, 03/15/33 2.527%, 09/13/23 ...... 250,000 261,214 (144A) (a) ...... 300,000 332,751 3.407%, 03/07/24 ...... 1,510,000 1,618,154 Sumitomo Mitsui Financial Group, Inc. 3.751%, 07/18/39 ...... 615,000 700,330 1.474%, 07/08/25 ...... 2,111,000 2,131,742 Mizuho Financial Group, Inc. 3.010%, 10/19/26 ...... 212,000 228,686 1.234%, 1Y H15 + 0.670%, 05/22/27 (a) (e) ...... 772,000 760,666 3.040%, 07/16/29 ...... 1,020,000 1,094,653 2.226%, 3M LIBOR + 0.830%, 05/25/26 (a) ...... 795,000 822,522 3.102%, 01/17/23 ...... 482,000 502,366 2.869%, SOFR + 1.572%, 09/13/30 (a) ...... 539,000 565,823 SunTrust Banks, Inc. Morgan Stanley 2.750%, 05/01/23 ...... 1,200,000 1,250,647 0.529%, SOFR + 0.455%, 01/25/24 (a) ...... 1,015,000 1,014,485 SVB Financial Group 2.188%, SOFR + 1.990%, 04/28/26 (a) ...... 250,000 259,575 4.000%, 5Y H15 + 3.202%, 05/15/26 (a) ...... 1,385,000 1,409,653 2.720%, SOFR + 1.152%, 07/22/25 (a) ...... 251,000 263,996 UBS Group AG 3.217%, SOFR + 1.485%, 04/22/42 (a) ...... 675,000 715,530 2.095%, 1Y H15 + 1.000%, 02/11/32 (144A) (a) ...... 1,070,000 1,048,206 3.591%, 3M LIBOR + 1.340%, 07/22/28 (a) ...... 1,067,000 1,181,971 2.859%, 3M LIBOR + 0.954%, 08/15/23 (144A) (a) ..... 276,000 283,230 3.700%, 10/23/24 ...... 749,000 817,159 3.491%, 05/23/23 (144A) ...... 762,000 782,611 3.772%, 3M LIBOR + 1.140%, 01/24/29 (a) ...... 278,000 312,007 4.125%, 09/24/25 (144A) ...... 850,000 948,285 3.875%, 04/29/24 ...... 700,000 761,336 UniCredit S.p.A. 4.300%, 01/27/45 ...... 400,000 494,345 1.982%, 1Y H15 + 1.200%, 06/03/27 (144A) (a) ...... 345,000 343,710 4.431%, 3M LIBOR + 1.628%, 01/23/30 (a) ...... 1,157,000 1,354,721 2.569%, 1Y H15 + 2.300%, 09/22/26 (144A) (a) ...... 710,000 719,830 4.457%, 3M LIBOR + 1.431%, 04/22/39 (a) ...... 850,000 1,049,471 5.861%, 5Y USD ICE Swap + 3.703%, 06/19/32 5.000%, 11/24/25 ...... 1,269,000 1,463,000 (144A) (a) ...... 455,000 502,406 5.500%, 07/28/21 ...... 807,000 810,094 6.572%, 01/14/22 (144A) ...... 850,000 876,233 National Australia Bank, Ltd. 7.296%, 5Y USD ICE Swap + 4.914%, 04/02/34 2.332%, 08/21/30 (144A) ...... 470,000 456,164 (144A) (a) ...... 230,000 276,534 2.648%, 01/14/41 (144A) † ...... 355,000 332,058 Wells Fargo & Co. 3.933%, 5Y H15 + 1.880%, 08/02/34 (144A) (a) ...... 800,000 866,696 3.068%, SOFR + 2.530%, 04/30/41 (a) ...... 750,000 769,262 Natwest Group plc 3.196%, 3M LIBOR + 1.170%, 06/17/27 (a) ...... 3,555,000 3,836,640 1.642%, 1Y H15 + 0.900%, 06/14/27 (a) ...... 890,000 889,889 3.900%, 5Y H15 + 3.453%, 03/15/26 (a) ...... 715,000 740,239 3.754%, 5Y H15 + 2.100%, 11/01/29 (a) ...... 700,000 743,750 4.100%, 06/03/26 ...... 1,291,000 1,449,780 4.269%, 3M LIBOR + 1.762%, 03/22/25 (a) ...... 480,000 520,648 4.650%, 11/04/44 ...... 595,000 733,065 4.892%, 3M LIBOR + 1.754%, 05/18/29 (a) ...... 290,000 339,622 5.375%, 11/02/43 ...... 1,005,000 1,340,305 Natwest Group plc Westpac Banking Corp. 3.073%, 1Y H15 + 2.550%, 05/22/28 (a) ...... 570,000 601,500 4.322%, 5Y USD ICE Swap + 2.236%, 11/23/31 (a) ..... 1,050,000 1,165,200 4.800%, 04/05/26 ...... 1,037,000 1,187,297 4.421%, 07/24/39 ...... 450,000 532,386 NatWest Markets plc 146,386,978 0.800%, 08/12/24 (144A) ...... 275,000 273,740 Regions Financial Corp. Beverages—0.7% 3.800%, 08/14/23 ...... 132,000 140,744 Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Royal Bank of Canada Inc. 4.650%, 01/27/26 ...... 495,000 567,120 4.700%, 02/01/36 ...... 1,685,000 2,068,074 Santander UK Group Holdings plc Anheuser-Busch InBev Finance, Inc. 1.673%, SOFR + 0.989%, 06/14/27 (a) ...... 680,000 678,960 4.625%, 02/01/44 ...... 185,000 224,668 Santander UK Group Holdings plc Anheuser-Busch InBev Worldwide, Inc. 4.750%, 09/15/25 (144A) ...... 700,000 785,455 4.350%, 06/01/40 ...... 5,000 5,951 Societe Generale S.A. 4.375%, 04/15/38 ...... 1,300,000 1,554,242 1.488%, 1Y H15 + 1.100%, 12/14/26 (144A) (a) ...... 1,552,000 1,537,900 4.439%, 10/06/48 ...... 950,000 1,137,047 1.792%, 1Y H15 + 1.000%, 06/09/27 (144A) (a) ...... 720,000 718,250 4.500%, 06/01/50 ...... 712,000 866,497 2.889%, 1Y H15 + 1.300%, 06/09/32 (144A) (a) ...... 1,670,000 1,689,906 4.600%, 06/01/60 ...... 315,000 387,756 3.000%, 01/22/30 (144A) ...... 549,000 571,830 4.750%, 04/15/58 ...... 775,000 971,722 4.250%, 04/14/25 (144A) ...... 785,000 852,428

See accompanying notes to financial statements. BHFTI-189 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Beverages—(Continued) Chemicals—(Continued) Beam Suntory, Inc. Dow Chemical Co. (The) 3.250%, 05/15/22 ...... 760,000 $ 773,655 8.850%, 09/15/21 (e) ...... 640,000 $ 649,596 Coca-Cola Femsa S.A.B. de C.V. DuPont de Nemours, Inc. 1.850%, 09/01/32 ...... 515,000 497,670 5.319%, 11/15/38 ...... 945,000 1,249,770 2.750%, 01/22/30 ...... 610,000 635,059 International Flavors & Fragrances, Inc. Constellation Brands, Inc. 1.832%, 10/15/27 (144A) ...... 330,000 329,063 4.400%, 11/15/25 ...... 300,000 338,349 5.000%, 09/26/48 ...... 404,000 522,466 5.250%, 11/15/48 ...... 180,000 240,682 Nutrien, Ltd. Fomento Economico Mexicano S.A.B. de C.V. 3.000%, 04/01/25 ...... 200,000 212,756 3.500%, 01/16/50 ...... 790,000 830,890 3.375%, 03/15/25 ...... 87,000 93,717 Keurig Dr Pepper, Inc. 4.125%, 03/15/35 ...... 620,000 707,883 3.430%, 06/15/27 ...... 175,000 192,913 PPG Industries, Inc. 4.417%, 05/25/25 ...... 268,000 300,655 1.200%, 03/15/26 ...... 425,000 423,917 4.985%, 05/25/38 ...... 387,000 493,265 5,352,875 11,519,095 Commercial Services—0.5% Biotechnology—0.4% ERAC USA Finance LLC Amgen, Inc. 3.850%, 11/15/24 (144A) ...... 925,000 1,008,352 2.200%, 02/21/27 ...... 430,000 446,474 7.000%, 10/15/37 (144A) ...... 500,000 745,935 Baxalta, Inc. Ford Foundation (The) 5.250%, 06/23/45 ...... 27,000 35,766 2.815%, 06/01/70 ...... 275,000 275,919 Biogen, Inc. Global Payments, Inc. 2.250%, 05/01/30 ...... 849,000 851,314 3.200%, 08/15/29 ...... 695,000 743,901 3.150%, 05/01/50 ...... 230,000 225,881 4.150%, 08/15/49 ...... 615,000 705,198 Gilead Sciences, Inc. IHS Markit, Ltd. 2.600%, 10/01/40 (e) ...... 945,000 909,738 4.250%, 05/01/29 ...... 1,056,000 1,222,003 3.250%, 09/01/22 ...... 365,000 375,428 Pepperdine University Regeneron Pharmaceuticals, Inc. 3.301%, 12/01/59 ...... 450,000 449,798 1.750%, 09/15/30 ...... 1,000,000 947,513 Quanta Services, Inc. Royalty Pharma plc 2.900%, 10/01/30 ...... 1,110,000 1,150,874 0.750%, 09/02/23 (144A) (e) ...... 725,000 727,129 Triton Container International, Ltd. 1.200%, 09/02/25 (144A) ...... 720,000 713,445 1.150%, 06/07/24 (144A) ...... 850,000 848,319 1.750%, 09/02/27 (144A) ...... 720,000 708,614 University of Southern California 3.300%, 09/02/40 (144A) ...... 595,000 599,157 3.226%, 10/01/2120 ...... 440,000 436,222 3.550%, 09/02/50 (144A) (e) ...... 610,000 606,734 7,586,521 7,147,193 Computers—0.4% Building Materials—0.2% Apple, Inc. CRH America Finance, Inc. 3.000%, 06/20/27 ...... 675,000 742,139 3.400%, 05/09/27 (144A) ...... 214,000 235,018 3.750%, 09/12/47 ...... 1,200,000 1,414,871 Lennox International, Inc. 3.750%, 11/13/47 ...... 200,000 234,300 1.350%, 08/01/25 ...... 1,630,000 1,640,248 3.850%, 08/04/46 ...... 362,000 430,722 Martin Marietta Materials, Inc. Dell International LLC / EMC Corp. 3.450%, 06/01/27 ...... 499,000 544,990 5.450%, 06/15/23 ...... 370,000 401,399 Masco Corp. 6.020%, 06/15/26 ...... 1,786,000 2,144,140 2.000%, 10/01/30 ...... 260,000 253,534 DXC Technology Co. 6.500%, 08/15/32 ...... 720,000 957,748 4.250%, 04/15/24 ...... 310,000 336,244 3,631,538 HP, Inc. 3.000%, 06/17/27 ...... 490,000 524,738 Chemicals—0.3% Leidos, Inc. Albemarle Corp. 2.300%, 02/15/31 ...... 365,000 356,101 5.450%, 12/01/44 ...... 350,000 442,521 6,584,654 Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co., L.P. 5.125%, 04/01/25 (144A) ...... 630,000 721,186

See accompanying notes to financial statements. BHFTI-190 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Cosmetics/Personal Care—0.1% Diversified Financial Services—(Continued) Estee Lauder Cos., Inc. (The) CME Group, Inc. 2.600%, 04/15/30 ...... 1,470,000 $ 1,551,780 3.000%, 03/15/25 ...... 440,000 $ 471,190 Unilever Capital Corp. Daiwa Securities Group, Inc. 3.375%, 03/22/25 ...... 310,000 337,566 3.129%, 04/19/22 (144A) ...... 439,000 448,744 1,889,346 GE Capital Funding LLC 4.400%, 05/15/30 ...... 375,000 437,000 Distribution/Wholesale—0.0% GE Capital International Funding Co. WW Grainger, Inc. 4.418%, 11/15/35 ...... 2,726,000 3,267,061 4.600%, 06/15/45 ...... 190,000 245,719 Jefferies Group LLC 5.125%, 01/20/23 ...... 300,000 320,568 Diversified Financial Services—2.7% LSEGA Financing plc AerCap Ireland Capital DAC / AerCap Global Aviation Trust 2.000%, 04/06/28 (144A) ...... 1,445,000 1,461,267 1.750%, 01/30/26 ...... 393,000 388,388 Nomura Holdings, Inc. 2.875%, 08/14/24 ...... 770,000 805,235 2.648%, 01/16/25 ...... 845,000 887,727 4.450%, 12/16/21 ...... 450,000 456,833 2.679%, 07/16/30 ...... 540,000 548,450 4.450%, 04/03/26 ...... 478,000 524,945 ORIX Corp. 4.500%, 09/15/23 ...... 1,830,000 1,962,264 2.900%, 07/18/22 ...... 362,000 371,408 6.500%, 07/15/25 ...... 208,000 243,966 Park Aerospace Holdings, Ltd. Air Lease Corp. 4.500%, 03/15/23 (144A) ...... 320,000 336,377 2.875%, 01/15/26 ...... 600,000 630,380 5.250%, 08/15/22 (144A) ...... 3,335,000 3,489,786 3.250%, 03/01/25 ...... 484,000 515,913 5.500%, 02/15/24 (144A) ...... 680,000 747,527 3.250%, 10/01/29 ...... 1,065,000 1,109,941 Private Export Funding Corp. 3.375%, 07/01/25 ...... 1,266,000 1,359,851 2.800%, 05/15/22 (e) ...... 1,000,000 1,023,184 American Express Co. 3.550%, 01/15/24 ...... 7,383,000 7,949,843 3.400%, 02/27/23 ...... 600,000 628,167 45,297,817 Aviation Capital Group LLC 5.500%, 12/15/24 (144A) ...... 698,000 788,970 Electric—2.9% Avolon Holdings Funding, Ltd. AEP Transmission Co. LLC 2.125%, 02/21/26 (144A) ...... 445,000 443,157 3.150%, 09/15/49 ...... 225,000 234,348 3.625%, 05/01/22 (144A) ...... 455,000 465,508 Alabama Power Co. 4.250%, 04/15/26 (144A) ...... 885,000 959,053 3.550%, 12/01/23 ...... 461,000 494,584 4.375%, 05/01/26 (144A) ...... 540,000 586,974 Alexander Funding Trust 5.125%, 10/01/23 (144A) ...... 754,000 815,153 1.841%, 11/15/23 (144A) ...... 800,000 814,614 5.250%, 05/15/24 (144A) ...... 805,000 885,362 Baltimore Gas & Electric Co. 5.500%, 01/15/23 (144A) ...... 1,325,000 1,407,298 5.200%, 06/15/33 ...... 1,510,000 1,848,958 5.500%, 01/15/26 (144A) ...... 1,000,000 1,134,263 Berkshire Hathaway Energy Co. Blackstone Secured Lending Fund 6.125%, 04/01/36 ...... 325,000 456,975 3.650%, 07/14/23 (144A) ...... 610,000 635,857 CenterPoint Energy, Inc. BOC Aviation, Ltd. 1.450%, 06/01/26 (e) ...... 699,000 699,497 2.750%, 09/18/22 (144A) ...... 480,000 488,574 China Southern Power Grid International Finance BVI 3.500%, 10/10/24 (144A) (e) ...... 385,000 410,126 Co., Ltd. Brookfield Finance, Inc. 3.500%, 05/08/27 (144A) ...... 960,000 1,052,002 3.900%, 01/25/28 ...... 358,000 399,519 Cleveland Electric Illuminating Co. (The) 4.700%, 09/20/47 ...... 409,000 498,987 4.550%, 11/15/30 (144A) ...... 250,000 288,880 4.850%, 03/29/29 ...... 485,000 571,070 Consumers Energy Co. Capital One Bank USA N.A. 4.350%, 08/31/64 ...... 191,000 241,806 3.375%, 02/15/23 ...... 600,000 627,801 Delmarva Power & Light Co. Capital One Financial Corp. 4.150%, 05/15/45 ...... 500,000 598,160 3.950%, 5Y H15 + 3.157%, 09/01/26 (a) ...... 755,000 771,044 Dominion Energy, Inc. Capital One Financial Corp. 2.850%, 08/15/26 ...... 183,000 194,770 3.750%, 07/28/26 ...... 860,000 948,689 DTE Electric Co. 4.200%, 10/29/25 ...... 200,000 223,337 5.700%, 10/01/37 ...... 300,000 407,046 Charles Schwab Corp. (The) Duke Energy Indiana LLC 4.000%, 5Y H15 + 3.168%, 06/01/26 (a) ...... 1,020,000 1,063,350 3.750%, 05/15/46 ...... 350,000 391,969 4.000%, 10Y H15 + 3.079%, 12/01/30 (a) ...... 770,000 787,710

See accompanying notes to financial statements. BHFTI-191 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—(Continued) Electric—(Continued) Duke Energy Progress LLC NextEra Energy Capital Holdings, Inc. 4.100%, 03/15/43 ...... 200,000 $ 237,073 3.625%, 06/15/23 ...... 410,000 $ 431,260 4.375%, 03/30/44 ...... 247,000 304,810 Niagara Mohawk Power Corp. 5.700%, 04/01/35 ...... 360,000 474,667 1.960%, 06/27/30 (144A) ...... 700,000 688,685 Duquesne Light Holdings, Inc. 3.508%, 10/01/24 (144A) ...... 305,000 327,994 2.532%, 10/01/30 (144A) ...... 450,000 442,079 Northern States Power Co. 2.775%, 01/07/32 (144A) ...... 280,000 282,155 6.500%, 03/01/28 ...... 628,000 799,119 3.616%, 08/01/27 (144A) ...... 1,050,000 1,138,854 NRG Energy, Inc. Edison International 2.000%, 12/02/25 (144A) ...... 560,000 568,049 3.550%, 11/15/24 ...... 1,180,000 1,254,171 2.450%, 12/02/27 (144A) ...... 625,000 629,020 5.750%, 06/15/27 ...... 400,000 455,133 OGE Energy Corp. Emera U.S. Finance L.P. 0.703%, 05/26/23 ...... 435,000 435,117 4.750%, 06/15/46 ...... 500,000 593,815 Oklahoma Gas and Electric Co. Enel Finance International NV 0.553%, 05/26/23 ...... 525,000 525,017 3.500%, 04/06/28 (144A) (e) ...... 465,000 509,130 Oncor Electric Delivery Co. LLC 3.625%, 05/25/27 (144A) ...... 480,000 527,259 3.100%, 09/15/49 ...... 670,000 704,368 4.625%, 09/14/25 (144A) ...... 265,000 300,549 Pacific Gas and Electric Co. Entergy Arkansas LLC 1.367%, 03/10/23 ...... 1,245,000 1,245,058 2.650%, 06/15/51 ...... 285,000 269,677 1.531%, 3M LIBOR + 1.375%, 11/15/21 (a) ...... 2,390,000 2,394,897 3.050%, 06/01/23 ...... 765,000 796,518 1.750%, 06/16/22 ...... 3,360,000 3,358,147 Entergy Corp. 2.950%, 03/01/26 ...... 380,000 388,570 2.950%, 09/01/26 ...... 194,000 206,909 3.450%, 07/01/25 ...... 600,000 628,909 Entergy Louisiana LLC 3.750%, 08/15/42 ...... 245,000 222,896 2.400%, 10/01/26 ...... 414,000 433,016 4.300%, 03/15/45 ...... 420,000 403,034 2.900%, 03/15/51 ...... 390,000 384,133 PacifiCorp 3.050%, 06/01/31 ...... 195,000 211,181 3.600%, 04/01/24 ...... 315,000 337,674 Evergy Metro, Inc. Pennsylvania Electric Co. 5.300%, 10/01/41 ...... 315,000 412,903 3.250%, 03/15/28 (144A) ...... 113,000 118,656 Exelon Corp. PPL Electric Utilities Corp. 3.497%, 06/01/22 ...... 600,000 615,147 2.500%, 09/01/22 ...... 300,000 305,415 Exelon Generation Co. LLC Progress Energy, Inc. 3.400%, 03/15/22 ...... 643,000 654,497 7.000%, 10/30/31 ...... 200,000 277,547 6.250%, 10/01/39 ...... 160,000 197,150 Public Service Co. of Colorado Florida Power & Light Co. 2.500%, 03/15/23 ...... 400,000 410,086 5.625%, 04/01/34 ...... 1,250,000 1,694,038 Public Service Co. of Oklahoma , Inc. 6.625%, 11/15/37 ...... 600,000 855,781 3.055%, 10/04/26 ...... 929,000 996,188 Puget Energy Inc. Indiana Michigan Power Co. 2.379%, 06/15/28 (144A) ...... 853,000 861,723 3.200%, 03/15/23 ...... 330,000 342,765 Sempra Energy ITC Holdings Corp. 4.050%, 12/01/23 ...... 1,054,000 1,131,723 2.950%, 05/14/30 (144A) ...... 330,000 347,314 Sierra Pacific Power Co. Jersey Central Power & Light Co. 3.375%, 08/15/23 ...... 556,000 586,152 6.150%, 06/01/37 ...... 200,000 258,575 Southern California Edison Co. Massachusetts Electric Co. 3.650%, 03/01/28 ...... 500,000 549,646 4.004%, 08/15/46 (144A) ...... 402,000 447,175 5.550%, 01/15/36 ...... 500,000 621,519 Mid-Atlantic Interstate Transmission LLC Southern Power Co. 4.100%, 05/15/28 (144A) ...... 340,000 382,627 5.150%, 09/15/41 ...... 400,000 487,818 Nevada Power Co. Southwestern Public Service Co. 5.375%, 09/15/40 ...... 223,000 290,278 4.500%, 08/15/41 ...... 250,000 308,285 6.650%, 04/01/36 ...... 360,000 522,487 Tampa Electric Co. New England Power Co. 4.450%, 06/15/49 ...... 500,000 631,807 3.800%, 12/05/47 (144A) ...... 280,000 303,745 Toledo Edison Co. (The) New York State Electric & Gas Corp. 6.150%, 05/15/37 ...... 400,000 548,151 3.250%, 12/01/26 (144A) ...... 434,000 472,311 Tri-State Generation & Transmission Association, Inc. 4.250%, 06/01/46 ...... 206,000 221,497

See accompanying notes to financial statements. BHFTI-192 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—(Continued) Gas—(Continued) Virginia Electric & Power Co. NiSource, Inc. 4.450%, 02/15/44 ...... 126,000 $ 156,179 1.700%, 02/15/31 ...... 570,000 $ 538,610 6.000%, 05/15/37 ...... 685,000 952,079 2.950%, 09/01/29 ...... 465,000 492,549 47,593,816 Southern California Gas Co. 2.550%, 02/01/30 (e) ...... 829,000 856,282 Electronics—0.1% Southern Co. Gas Capital Corp. Arrow Electronics, Inc. 3.950%, 10/01/46 ...... 212,000 235,725 3.250%, 09/08/24 ...... 439,000 467,230 4.400%, 06/01/43 ...... 375,000 445,135 3.875%, 01/12/28 ...... 376,000 421,011 6.000%, 10/01/34 ...... 1,000,000 1,309,495 Southwest Gas Corp. 888,241 3.800%, 09/29/46 ...... 332,000 359,041

Engineering & Construction—0.0% 7,560,869 Mexico City Airport Trust 5.500%, 07/31/47 (144A) ...... 200,000 202,760 Healthcare-Products—0.1% Abbott Laboratories Environmental Control—0.0% 1.150%, 01/30/28 ...... 500,000 490,537 Republic Services, Inc. Boston Scientific Corp. 1.450%, 02/15/31 ...... 710,000 665,168 4.000%, 03/01/29 ...... 606,000 689,223 Thermo Fisher Scientific, Inc. Food—0.4% 2.950%, 09/19/26 ...... 286,000 308,411 Bimbo Bakeries USA, Inc. 1,488,171 4.000%, 05/17/51 (144A) ...... 695,000 746,293 Campbell Soup Co. Healthcare-Services—1.1% 3.125%, 04/24/50 ...... 287,000 278,995 Aetna, Inc. Conagra Brands, Inc. 6.625%, 06/15/36 ...... 297,000 432,715 5.300%, 11/01/38 ...... 205,000 260,534 Anthem, Inc. 5.400%, 11/01/48 ...... 325,000 436,278 3.500%, 08/15/24 ...... 1,035,000 1,114,801 Kroger Co. (The) 4.101%, 03/01/28 ...... 460,000 525,737 8.000%, 09/15/29 ...... 610,000 861,022 4.650%, 08/15/44 ...... 324,000 404,314 McCormick and Co., Inc. Bon Secours Mercy Health, Inc. 2.500%, 04/15/30 ...... 1,239,000 1,275,965 3.205%, 06/01/50 ...... 625,000 647,230 Smithfield Foods, Inc. Children S Hospital Corp. 3.000%, 10/15/30 (144A) ...... 1,160,000 1,169,542 2.585%, 02/01/50 ...... 430,000 410,857 5.200%, 04/01/29 (144A) ...... 1,100,000 1,280,500 Children’s Hospital Tyson Foods, Inc. 2.928%, 07/15/50 ...... 540,000 536,312 5.150%, 08/15/44 (e) ...... 100,000 128,717 CommonSpirit Health 6,437,846 1.547%, 10/01/25 ...... 435,000 438,724 2.782%, 10/01/30 ...... 430,000 446,212 Forest Products & Paper—0.0% 3.910%, 10/01/50 ...... 425,000 467,129 International Paper Co. Cottage Health Obligated Group 8.700%, 06/15/38 ...... 250,000 417,038 3.304%, 11/01/49 ...... 500,000 539,847 Hackensack Meridian Health, Inc. Gas—0.5% 2.675%, 09/01/41 ...... 1,180,000 1,156,713 APT Pipelines, Ltd. 2.875%, 09/01/50 ...... 700,000 690,269 4.200%, 03/23/25 (144A) ...... 700,000 767,639 Hartford HealthCare Corp. 4.250%, 07/15/27 (144A) ...... 687,000 775,839 3.447%, 07/01/54 (e) ...... 1,100,000 1,154,817 Atmos Energy Corp. HCA, Inc. 0.625%, 03/09/23 ...... 310,000 310,095 3.500%, 07/15/51 ...... 840,000 839,617 4.150%, 01/15/43 ...... 460,000 539,798 5.125%, 06/15/39 ...... 565,000 705,757 Brooklyn Union Gas Co. (The) 5.250%, 06/15/26 ...... 1,540,000 1,782,642 4.273%, 03/15/48 (144A) ...... 500,000 568,936 Memorial Health Services KeySpan Gas East Corp. 3.447%, 11/01/49 (e) ...... 995,000 1,077,459 2.742%, 08/15/26 (144A) ...... 345,000 361,725 MidMichigan Health 3.409%, 06/01/50 ...... 245,000 263,149

See accompanying notes to financial statements. BHFTI-193 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Healthcare-Services—(Continued) Insurance—(Continued) MultiCare Health System Guardian Life Insurance Co. of America (The) 2.803%, 08/15/50 ...... 365,000 $ 358,890 4.850%, 01/24/77 (144A) ...... 156,000 $ 199,762 NYU Langone Hospitals Hanover Insurance Group, Inc. (The) 3.380%, 07/01/55 (e) ...... 410,000 434,286 2.500%, 09/01/30 ...... 380,000 380,143 Providence St. Joseph Health Obligated Group Hartford Financial Services Group, Inc. (The) 2.746%, 10/01/26 ...... 210,000 224,537 4.300%, 04/15/43 ...... 400,000 471,955 Quest Diagnostics, Inc. Intact U.S. Holdings, Inc. 3.450%, 06/01/26 ...... 140,000 153,733 4.600%, 11/09/22 ...... 750,000 786,127 Texas Health Resources Jackson National Life Global Funding 2.328%, 11/15/50 ...... 340,000 308,174 3.050%, 04/29/26 (144A) ...... 300,000 322,209 4.330%, 11/15/55 ...... 250,000 326,636 3.250%, 01/30/24 (144A) ...... 460,000 489,797 UnitedHealth Group, Inc. Liberty Mutual Insurance Co. 3.250%, 05/15/51 ...... 900,000 960,090 8.500%, 05/15/25 (144A) ...... 800,000 983,831 4.625%, 07/15/35 ...... 320,000 404,213 Lincoln National Corp. Universal Health Services, Inc. 4.200%, 03/15/22 ...... 350,000 359,399 2.650%, 10/15/30 (144A) ...... 510,000 512,820 Manulife Financial Corp. Yale-New Haven Health Services Corp. 4.061%, 5Y USD ICE Swap + 1.647%, 02/24/32 (a) ..... 500,000 551,724 2.496%, 07/01/50 ...... 580,000 532,769 Massachusetts Mutual Life Insurance Co. 17,850,449 7.625%, 11/15/23 (144A) ...... 550,000 608,323 New York Life Global Funding Holding Companies-Diversified—0.1% 3.000%, 01/10/28 (144A) ...... 485,000 527,144 CVS Pass-Through Trust New York Life Insurance Co. 4.704%, 01/10/36 (144A) ...... 692,789 785,082 4.450%, 05/15/69 (144A) ...... 625,000 781,602 Hutchison Whampoa International 11, Ltd. Northwestern Mutual Global Funding 4.625%, 01/13/22 (144A) ...... 1,100,000 1,123,853 1.700%, 06/01/28 (144A) ...... 620,000 620,592 Pacific Life Insurance Co. 1,908,935 4.300%, 3M LIBOR + 2.796%, 10/24/67 (144A) (a) ..... 200,000 229,794 Principal Financial Group, Inc. Home Builders—0.0% 3.125%, 05/15/23 ...... 250,000 261,938 Lennar Corp. Progressive Corp. (The) 4.500%, 04/30/24 ...... 280,000 306,250 5.375%, 3M LIBOR + 2.539%, 03/15/23 (a) ...... 430,000 450,851

Insurance—1.1% 18,026,141 AIA Group, Ltd. 3.600%, 04/09/29 (144A) ...... 495,000 548,059 Internet—0.1% 3.900%, 04/06/28 (144A) (e) ...... 415,000 465,493 eBay, Inc. AIG SunAmerica Global Financing X 2.600%, 05/10/31 ...... 2,500,000 2,543,653 6.900%, 03/15/32 (144A) ...... 500,000 713,284 American Financial Group, Inc. Iron/Steel—0.2% 3.500%, 08/15/26 ...... 750,000 814,445 Nucor Corp. Aon plc 2.979%, 12/15/55 (144A) ...... 250,000 241,601 3.500%, 06/14/24 ...... 485,000 520,784 Reliance Steel & Aluminum Co. Assurant, Inc. 1.300%, 08/15/25 ...... 1,810,000 1,814,410 4.200%, 09/27/23 ...... 605,000 648,736 Steel Dynamics, Inc. Athene Global Funding 1.650%, 10/15/27 ...... 630,000 627,887 0.950%, 01/08/24 (144A) (e) ...... 550,000 550,441 3.450%, 04/15/30 ...... 237,000 257,820 1.450%, 01/08/26 (144A) ...... 420,000 420,285 Vale Overseas, Ltd. 2.750%, 06/25/24 (144A) ...... 890,000 932,889 3.750%, 07/08/30 (e) ...... 405,000 431,203 2.950%, 11/12/26 (144A) ...... 1,825,000 1,942,964 3,372,921 Berkshire Hathaway Finance Corp. 4.300%, 05/15/43 ...... 831,000 1,035,494 Machinery-Diversified—0.1% Dai-ichi Life Insurance Co., Ltd. (The) Deere & Co. 4.000%, 3M LIBOR + 3.660%, 07/24/26 (144A) (a) ..... 759,000 820,669 8.100%, 05/15/30 ...... 400,000 591,006 F&G Global Funding Nvent Finance Sarl 1.750%, 06/30/26 (144A) ...... 585,000 587,407 4.550%, 04/15/28 ...... 562,000 617,275

See accompanying notes to financial statements. BHFTI-194 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Machinery-Diversified—(Continued) Miscellaneous Manufacturing—(Continued) Otis Worldwide Corp. Parker-Hannifin Corp. 2.565%, 02/15/30 ...... 1,110,000 $ 1,149,569 4.450%, 11/21/44 ...... 333,000 $ 410,505 Xylem, Inc. Siemens Financieringsmaatschappij NV 3.250%, 11/01/26 ...... 118,000 129,238 3.125%, 03/16/24 (144A) ...... 500,000 533,575 2,487,088 1,887,088

Media—0.9% Oil & Gas—1.3% Charter Communications Operating LLC / Charter BP Capital Markets America, Inc. Communications Operating Capital Corp. 2.939%, 06/04/51 ...... 1,260,000 1,206,295 3.700%, 04/01/51 ...... 840,000 830,816 3.017%, 01/16/27 ...... 655,000 706,809 4.800%, 03/01/50 ...... 935,000 1,073,893 BP Capital Markets plc 6.834%, 10/23/55 ...... 400,000 588,790 3.279%, 09/19/27 ...... 534,000 584,800 Comcast Corp. Chevron USA, Inc. 2.650%, 08/15/62 ...... 705,000 644,153 5.050%, 11/15/44 ...... 450,000 603,431 3.900%, 03/01/38 ...... 591,000 680,055 6.000%, 03/01/41 ...... 360,000 526,646 4.200%, 08/15/34 ...... 556,000 658,473 Cimarex Energy Co. 4.250%, 01/15/33 ...... 1,880,000 2,240,515 3.900%, 05/15/27 ...... 710,000 782,591 4.600%, 10/15/38 ...... 880,000 1,090,674 ConocoPhillips COX Communications, Inc. 2.400%, 02/15/31 (144A) ...... 390,000 399,180 1.800%, 10/01/30 (144A) ...... 1,880,000 1,791,782 Diamondback Energy, Inc. 2.950%, 10/01/50 (144A) ...... 630,000 596,784 3.250%, 12/01/26 ...... 440,000 471,637 Discovery Communications LLC 4.750%, 05/31/25 ...... 900,000 1,013,350 5.200%, 09/20/47 ...... 485,000 602,753 Ecopetrol S.A. Grupo Televisa S.A.B. 4.125%, 01/16/25 ...... 433,000 456,256 6.125%, 01/31/46 ...... 200,000 272,842 Eni S.p.A. TCI Communications, Inc. 4.000%, 09/12/23 (144A) ...... 385,000 411,192 7.125%, 02/15/28 ...... 801,000 1,071,516 EQT Corp. LLC 3.900%, 10/01/27 ...... 200,000 214,250 5.500%, 09/01/41 ...... 1,000,000 1,239,480 Exxon Mobil Corp. ViacomCBS, Inc. 2.992%, 03/19/25 ...... 1,060,000 1,136,943 2.900%, 01/15/27 ...... 251,000 266,497 2.995%, 08/16/39 ...... 690,000 707,969 ViacomCBS, Inc. 3.095%, 08/16/49 ...... 860,000 875,253 3.700%, 08/15/24 ...... 223,000 240,892 Hess Corp. 4.850%, 07/01/42 ...... 255,000 312,157 6.000%, 01/15/40 ...... 245,000 314,232 5.850%, 09/01/43 ...... 215,000 294,575 HollyFrontier Corp. 5.900%, 10/15/40 ...... 125,000 167,797 2.625%, 10/01/23 ...... 775,000 801,334 14,664,444 5.875%, 04/01/26 ...... 409,000 473,123 Lundin Energy Finance B.V. Mining—0.4% 2.000%, 07/15/26 (144A) ...... 389,000 389,623 Anglo American Capital plc 3.100%, 07/15/31 (144A) ...... 335,000 338,395 2.625%, 09/10/30 (144A) ...... 566,000 568,141 Marathon Petroleum Corp. 4.000%, 09/11/27 (144A) ...... 300,000 332,602 3.625%, 09/15/24 ...... 371,000 399,174 Barrick Gold Corp. 4.500%, 05/01/23 ...... 232,000 247,417 6.450%, 10/15/35 ...... 300,000 414,366 4.700%, 05/01/25 ...... 138,000 155,634 Glencore Funding LLC Pioneer Natural Resources Co. 1.625%, 09/01/25 (144A) ...... 2,140,000 2,164,331 1.900%, 08/15/30 (e) ...... 800,000 770,755 2.500%, 09/01/30 (144A) ...... 2,270,000 2,264,454 Saudi Arabian Oil Co. 4.125%, 05/30/23 (144A) ...... 346,000 368,018 1.250%, 11/24/23 (144A) ...... 200,000 202,016 1.625%, 11/24/25 (144A) ...... 220,000 222,090 6,111,912 Suncor Energy, Inc. 5.950%, 12/01/34 ...... 668,000 886,108 Miscellaneous Manufacturing—0.1% 5.950%, 05/15/35 ...... 210,000 276,266 General Electric Co. 7.875%, 06/15/26 (e) ...... 544,000 689,667 3.625%, 05/01/30 (e) ...... 580,000 646,746 9.250%, 10/15/21 ...... 243,000 249,182 Parker-Hannifin Corp. 4.100%, 03/01/47 ...... 250,000 296,262

See accompanying notes to financial statements. BHFTI-195 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—(Continued) Pharmaceuticals—(Continued) TotalEnergies Capital International S.A. CVS Pass-Through Trust 2.986%, 06/29/41 ...... 900,000 $ 916,535 5.773%, 01/10/33 (144A) ...... 666,494 $ 789,979 3.127%, 05/29/50 ...... 870,000 881,899 6.204%, 10/10/25 (144A) ...... 369,713 404,374 3.461%, 07/12/49 ...... 660,000 715,035 8.353%, 07/10/31 (144A) ...... 133,554 175,055 Valero Energy Corp. Mead Johnson Nutrition Co. 1.200%, 03/15/24 ...... 710,000 716,143 4.125%, 11/15/25 ...... 89,000 100,126 2.150%, 09/15/27 ...... 640,000 650,130 Mylan, Inc. 2.700%, 04/15/23 ...... 550,000 570,206 4.550%, 04/15/28 ...... 350,000 401,943 7.500%, 04/15/32 ...... 126,000 176,961 5.400%, 11/29/43 ...... 400,000 493,680 21,138,527 Shire Acquisitions Investments Ireland DAC 2.875%, 09/23/23 ...... 445,000 465,683 Oil & Gas Services—0.1% 3.200%, 09/23/26 ...... 2,100,000 2,279,628 Baker Hughes Holdings LLC Takeda Pharmaceutical Co., Ltd. 5.125%, 09/15/40 ...... 360,000 459,595 3.025%, 07/09/40 ...... 460,000 464,339 Halliburton Co. 3.175%, 07/09/50 ...... 440,000 444,683 4.750%, 08/01/43 ...... 215,000 250,946 3.375%, 07/09/60 ...... 310,000 318,151 4.850%, 11/15/35 ...... 270,000 317,795 Viatris, Inc. 6.750%, 02/01/27 ...... 200,000 249,589 3.850%, 06/22/40 (144A) ...... 412,000 438,154 Schlumberger Investment S.A. Zoetis, Inc. 2.650%, 06/26/30 (e) ...... 650,000 682,882 2.000%, 05/15/30 ...... 590,000 587,275 1,960,807 19,596,755

Packaging & Containers—0.1% Pipelines—1.1% Graphic Packaging International LLC ANR Pipeline Co. 1.512%, 04/15/26 (144A) ...... 894,000 889,463 7.375%, 02/15/24 ...... 226,000 262,028 WRKCo, Inc. Boardwalk Pipelines L.P. 3.750%, 03/15/25 ...... 300,000 327,278 3.400%, 02/15/31 ...... 630,000 668,707 Buckeye Partners L.P. 1,216,741 5.850%, 11/15/43 ...... 575,000 570,687 Cameron LNG LLC Pharmaceuticals—1.2% 3.701%, 01/15/39 (144A) ...... 769,000 855,493 AbbVie, Inc. Cheniere Corpus Christi Holdings LLC 2.800%, 03/15/23 ...... 172,000 177,702 3.700%, 11/15/29 ...... 400,000 436,913 3.200%, 11/21/29 ...... 1,583,000 1,719,208 5.125%, 06/30/27 ...... 530,000 616,277 3.450%, 03/15/22 ...... 500,000 508,431 Enable Midstream Partners L.P. 3.850%, 06/15/24 ...... 1,038,000 1,125,769 3.900%, 05/15/24 ...... 350,000 371,999 4.050%, 11/21/39 ...... 982,000 1,140,520 4.150%, 09/15/29 ...... 443,000 485,050 4.400%, 11/06/42 ...... 600,000 728,556 4.950%, 05/15/28 ...... 290,000 332,039 4.450%, 05/14/46 ...... 220,000 265,677 Energy Transfer L.P. AstraZeneca plc 3.900%, 07/15/26 ...... 117,000 127,753 2.125%, 08/06/50 ...... 390,000 340,606 4.950%, 01/15/43 ...... 394,000 435,499 6.450%, 09/15/37 ...... 350,000 523,199 5.300%, 04/01/44 ...... 200,000 230,605 Becton Dickinson & Co. 5.500%, 06/01/27 ...... 167,000 195,855 3.734%, 12/15/24 ...... 85,000 92,561 6.050%, 06/01/41 ...... 270,000 342,371 3.794%, 05/20/50 ...... 575,000 642,924 6.100%, 02/15/42 ...... 500,000 621,617 Bristol-Myers Squibb Co. Enterprise Products Operating LLC 4.125%, 06/15/39 ...... 527,000 635,982 3.900%, 02/15/24 ...... 470,000 505,509 4.550%, 02/20/48 ...... 550,000 717,450 4.950%, 10/15/54 ...... 179,000 221,815 5.000%, 08/15/45 ...... 152,000 207,749 5.100%, 02/15/45 ...... 200,000 252,594 Cigna Corp. Flex Intermediate Holdco LLC 4.800%, 07/15/46 ...... 156,000 197,825 3.363%, 06/30/31 (144A) ...... 600,000 607,365 CVS Health Corp. 4.317%, 12/30/39 (144A) ...... 425,000 432,166 4.300%, 03/25/28 ...... 459,000 527,348 Galaxy Pipeline Assets Bidco, Ltd. 5.050%, 03/25/48 ...... 2,065,000 2,682,178 2.940%, 09/30/40 (144A) ...... 800,000 794,089

See accompanying notes to financial statements. BHFTI-196 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Pipelines—(Continued) Real Estate Investment Trusts—(Continued) Gray Oak Pipeline LLC Boston Properties L.P. 2.000%, 09/15/23 (144A) ...... 415,000 $ 423,277 3.200%, 01/15/25 ...... 380,000 $ 407,098 2.600%, 10/15/25 (144A) ...... 1,300,000 1,335,424 3.850%, 02/01/23 ...... 800,000 835,363 Kinder Morgan, Inc. Brixmor Operating Partnership L.P. 2.000%, 02/15/31 ...... 410,000 394,134 2.250%, 04/01/28 ...... 600,000 599,283 3.250%, 08/01/50 ...... 500,000 483,520 3.850%, 02/01/25 ...... 500,000 543,856 5.050%, 02/15/46 ...... 250,000 303,576 Corporate Office Properties L.P. MPLX L.P. 2.750%, 04/15/31 ...... 1,153,000 1,161,700 5.200%, 12/01/47 ...... 165,000 201,223 Crown Castle International Corp. ONEOK Partners L.P. 2.250%, 01/15/31 ...... 915,000 903,131 6.650%, 10/01/36 ...... 950,000 1,279,978 Digital Realty Trust L.P. ONEOK, Inc. 3.700%, 08/15/27 ...... 270,000 302,209 3.400%, 09/01/29 ...... 245,000 260,794 Equinix, Inc. Phillips 66 Partners L.P. 2.000%, 05/15/28 ...... 1,388,000 1,393,973 3.150%, 12/15/29 ...... 330,000 346,603 2.900%, 11/18/26 ...... 875,000 935,976 3.550%, 10/01/26 ...... 100,000 108,654 Essex Portfolio L.P. 4.900%, 10/01/46 ...... 200,000 238,368 2.650%, 03/15/32 ...... 565,000 573,223 Plains All American Pipeline L.P. / PAA Finance Corp. Goodman U.S. Finance Three LLC 4.700%, 06/15/44 (e) ...... 560,000 593,265 3.700%, 03/15/28 (144A) ...... 387,000 419,393 Southern Natural Gas Co. LLC Healthcare Trust of America Holdings L.P. 4.800%, 03/15/47 (144A) ...... 244,000 300,530 2.000%, 03/15/31 ...... 470,000 453,893 TC PipeLines L.P. Healthpeak Properties, Inc. 3.900%, 05/25/27 ...... 100,000 110,214 3.500%, 07/15/29 ...... 600,000 662,527 Tennessee Gas Pipeline Co. LLC LifeStorage L.P. 2.900%, 03/01/30 (144A) ...... 425,000 440,925 3.500%, 07/01/26 ...... 1,000,000 1,093,907 TransCanada PipeLines, Ltd. Mid-America Apartments L.P. 3.750%, 10/16/23 ...... 400,000 425,726 1.700%, 02/15/31 ...... 470,000 446,424 4.750%, 05/15/38 ...... 300,000 360,711 National Retail Properties, Inc. Williams Cos., Inc. (The) 3.600%, 12/15/26 ...... 453,000 494,522 3.900%, 01/15/25 ...... 100,000 109,350 Office Properties Income Trust 4.850%, 03/01/48 ...... 300,000 364,601 2.650%, 06/15/26 ...... 925,000 938,519 17,447,304 4.000%, 07/15/22 ...... 627,000 647,435 Prologis L.P. Real Estate—0.1% 2.250%, 04/15/30 ...... 200,000 204,280 Goodman Australia Industrial Fund Bond Issuer Pty, Ltd. Realty Income Corp. 3.400%, 09/30/26 (144A) ...... 632,000 687,731 3.000%, 01/15/27 ...... 200,000 216,064 Ontario Teachers’ Cadillac Fairview Properties Trust 3.250%, 01/15/31 ...... 345,000 375,856 3.875%, 03/20/27 (144A) ...... 603,000 664,414 3.875%, 04/15/25 ...... 505,000 557,155 Regency Centers L.P. 1,352,145 2.950%, 09/15/29 ...... 560,000 589,717 Safehold Operating Partnership L.P. Real Estate Investment Trusts—1.8% 2.800%, 06/15/31 ...... 2,220,000 2,219,171 Alexandria Real Estate Equities, Inc. Scentre Group Trust 1 / Scentre Group Trust 2 1.875%, 02/01/33 ...... 410,000 387,575 3.500%, 02/12/25 (144A) ...... 720,000 773,601 2.000%, 05/18/32 ...... 710,000 691,634 Scentre Group Trust 2 3.800%, 04/15/26 ...... 175,000 194,857 4.750%, 5Y H15 + 4.379%, 09/24/80 (144A) (a) ...... 635,000 677,862 4.000%, 02/01/50 ...... 566,000 648,598 SITE Centers Corp. American Tower Corp. 4.700%, 06/01/27 ...... 226,000 250,268 1.500%, 01/31/28 ...... 965,000 938,340 UDR, Inc. 1.875%, 10/15/30 (e) ...... 845,000 815,139 2.100%, 08/01/32 ...... 470,000 451,237 2.100%, 06/15/30 ...... 470,000 462,194 2.950%, 09/01/26 ...... 233,000 248,883 2.250%, 01/15/22 ...... 500,000 505,170 3.000%, 08/15/31 ...... 95,000 99,933 2.950%, 01/15/51 ...... 255,000 243,460 3.200%, 01/15/30 ...... 625,000 675,592 3.100%, 06/15/50 ...... 390,000 381,023 Ventas Realty L.P. 3.375%, 10/15/26 ...... 287,000 312,640 3.500%, 02/01/25 ...... 197,000 212,594 3.700%, 10/15/49 ...... 665,000 721,748 3.850%, 04/01/27 (e) ...... 369,000 412,417

See accompanying notes to financial statements. BHFTI-197 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate Investment Trusts—(Continued) Semiconductors—(Continued) Welltower, Inc. Microchip Technology, Inc. 3.100%, 01/15/30 ...... 445,000 $ 473,910 0.983%, 09/01/24 (144A) ...... 1,200,000 $ 1,194,182 6.500%, 03/15/41 ...... 225,000 318,402 NXP B.V. / NXP Funding LLC / NXP USA, Inc. WP Carey, Inc. 2.500%, 05/11/31 (144A) ...... 1,085,000 1,095,732 2.250%, 04/01/33 ...... 845,000 809,008 3.250%, 05/11/41 (144A) ...... 1,115,000 1,146,409 4.250%, 10/01/26 (e) ...... 285,000 320,137 Xilinx, Inc. 29,000,897 2.375%, 06/01/30 ...... 700,000 711,556 11,149,622 Retail—0.6% 7-Eleven, Inc. Software—0.5% 1.300%, 02/10/28 (144A) ...... 405,000 391,221 Citrix Systems, Inc. 2.500%, 02/10/41 (144A) ...... 409,000 380,794 1.250%, 03/01/26 ...... 275,000 271,547 Alimentation Couche-Tard, Inc. Fiserv, Inc. 2.950%, 01/25/30 (144A) ...... 360,000 373,535 3.200%, 07/01/26 ...... 305,000 330,064 3.439%, 05/13/41 (144A) ...... 780,000 805,322 4.400%, 07/01/49 ...... 295,000 355,818 3.625%, 05/13/51 (144A) ...... 870,000 909,116 Microsoft Corp. 3.800%, 01/25/50 (144A) ...... 625,000 669,845 2.400%, 08/08/26 ...... 400,000 426,349 AutoZone, Inc. 2.921%, 03/17/52 ...... 582,000 617,704 1.650%, 01/15/31 ...... 530,000 504,202 3.041%, 03/17/62 ...... 149,000 158,946 Dollar General Corp. 3.500%, 02/12/35 ...... 296,000 343,481 4.125%, 05/01/28 ...... 485,000 555,417 Oracle Corp. Kohl’s Corp. 2.300%, 03/25/28 ...... 2,500,000 2,565,018 3.375%, 05/01/31 ...... 800,000 828,213 3.800%, 11/15/37 ...... 900,000 986,983 Lowe’s Cos., Inc. 3.850%, 07/15/36 ...... 124,000 136,319 1.700%, 10/15/30 ...... 1,085,000 1,040,110 3.900%, 05/15/35 ...... 106,000 118,041 2.625%, 04/01/31 ...... 700,000 723,292 4.300%, 07/08/34 ...... 103,000 119,405 3.120%, 04/15/22 ...... 300,000 304,560 Roper Technologies, Inc. 3.125%, 09/15/24 ...... 276,000 295,624 1.400%, 09/15/27 ...... 1,050,000 1,032,665 3.650%, 04/05/29 ...... 198,000 221,475 VMware, Inc. McDonald’s Corp. 4.650%, 05/15/27 ...... 425,000 487,763 4.450%, 03/01/47 ...... 180,000 220,368 4.700%, 12/09/35 ...... 84,000 104,122 7,950,103 6.300%, 10/15/37 ...... 152,000 217,485 Nordstrom, Inc. Telecommunications—1.4% 4.250%, 08/01/31 (144A) (e) ...... 908,000 945,681 AT&T, Inc. O’Reilly Automotive, Inc. 1.650%, 02/01/28 ...... 305,000 302,729 3.600%, 09/01/27 ...... 494,000 552,973 2.250%, 02/01/32 ...... 510,000 500,545 10,043,355 2.300%, 06/01/27 ...... 1,740,000 1,799,687 3.100%, 02/01/43 ...... 770,000 754,485 Savings & Loans—0.0% 3.500%, 06/01/41 ...... 479,000 497,569 Nationwide Building Society 3.500%, 09/15/53 (144A) ...... 2,795,000 2,808,054 1.000%, 08/28/25 (144A) ...... 380,000 376,451 Deutsche Telekom AG 3.625%, 01/21/50 (144A) ...... 276,000 291,366 Semiconductors—0.7% NBN Co., Ltd. Analog Devices, Inc. 2.625%, 05/05/31 (144A) ...... 1,600,000 1,638,928 3.125%, 12/05/23 ...... 293,000 309,927 T-Mobile USA, Inc. 4.500%, 12/05/36 ...... 336,000 395,914 1.500%, 02/15/26 ...... 1,570,000 1,581,995 Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.050%, 02/15/28 ...... 1,760,000 1,786,699 3.875%, 01/15/27 ...... 600,000 662,987 3.000%, 02/15/41 ...... 975,000 962,978 Broadcom, Inc. 3.750%, 04/15/27 ...... 1,705,000 1,884,025 1.950%, 02/15/28 (144A) (e) ...... 1,800,000 1,799,229 Verizon Communications, Inc. 4.110%, 09/15/28 ...... 1,268,000 1,426,421 2.100%, 03/22/28 ...... 385,000 393,052 4.250%, 04/15/26 ...... 800,000 896,829 2.650%, 11/20/40 ...... 779,000 749,645 4.750%, 04/15/29 ...... 465,000 540,914 2.987%, 10/30/56 ...... 654,000 614,785 Microchip Technology, Inc. 4.125%, 03/16/27 ...... 400,000 455,536 0.972%, 02/15/24 (144A) ...... 970,000 969,522 4.272%, 01/15/36 ...... 280,000 333,151

See accompanying notes to financial statements. BHFTI-198 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Telecommunications—(Continued) Asset-Backed - Automobile—(Continued) Verizon Communications, Inc. Auto Loan Trust 4.400%, 11/01/34 ...... 600,000 $ 714,724 0.960%, 02/15/30 (144A) ...... 2,700,000 $ 2,701,792 4.672%, 03/15/55 ...... 1,490,000 1,916,773 Credito Real USA Auto Receivables Trust 4.862%, 08/21/46 ...... 780,000 1,009,155 1.350%, 02/16/27 (144A) ...... 1,460,734 1,461,042 Vodafone Group plc Drive Auto Receivables Trust 5.250%, 05/30/48 ...... 540,000 711,539 1.020%, 06/15/27 ...... 948,000 952,070 6.150%, 02/27/37 ...... 500,000 691,879 1.450%, 01/16/29 ...... 1,600,000 1,609,429 22,399,299 3.180%, 10/15/26 ...... 1,160,000 1,206,416 3.530%, 12/15/23 (144A) ...... 1,176,747 1,187,415 Transportation—0.4% 3.660%, 11/15/24 ...... 89,343 89,478 Burlington Northern Santa Fe LLC 3.840%, 03/15/23 ...... 287,712 289,052 3.550%, 02/15/50 ...... 233,000 263,481 4.090%, 06/15/26 ...... 1,225,000 1,271,374 7.950%, 08/15/30 ...... 1,185,000 1,731,015 DT Auto Owner Trust Burlington Northern, Inc. 1.100%, 02/16/27 (144A) ...... 1,432,000 1,436,429 8.750%, 02/25/22 ...... 812,000 857,086 3.810%, 12/15/23 (144A) ...... 494,504 497,656 Canadian National Railway Co. Flagship Credit Auto Trust 2.450%, 05/01/50 ...... 500,000 449,522 2.180%, 02/16/27 (144A) ...... 650,000 663,319 CSX Corp. 3.790%, 12/16/24 (144A) ...... 3,855,000 3,948,825 4.750%, 11/15/48 ...... 404,000 522,569 GLS Auto Receivables Issuer Trust 6.000%, 10/01/36 ...... 300,000 412,834 1.200%, 01/15/27 (144A) ...... 625,000 627,396 Kansas City Southern 1.680%, 01/15/27 (144A) ...... 1,200,000 1,202,605 4.700%, 05/01/48 (e) ...... 597,000 743,559 GLS Auto Receivables Trust Norfolk Southern Corp. 1.420%, 04/15/27 (144A) ...... 2,250,000 2,241,354 3.850%, 01/15/24 ...... 679,000 727,487 LP LMS ASSET 3.942%, 11/01/47 ...... 219,000 251,933 3.228%, 10/15/28 ...... 3,261,248 3,262,904 Union Pacific Corp. Oportun Funding LLC 4.100%, 09/15/67 ...... 200,000 231,208 1.210%, 03/08/28 (144A) ...... 950,000 952,720 Prestige Auto Receivables Trust 6,190,694 3.910%, 11/15/22 (144A) ...... 1,234,228 1,235,880 Sonoran Auto Receivables Trust Trucking & Leasing—0.1% 4.750%, 07/15/24 ...... 2,100,299 2,105,550 Penske Truck Leasing Co. L.P. / PTL Finance Corp. 4.750%, 06/15/25 ...... 2,341,502 2,343,843 2.700%, 03/14/23 (144A) ...... 948,000 978,662 Tricolor Auto Securitization Trust 4.125%, 08/01/23 (144A) ...... 598,000 637,871 4.875%, 11/15/26 (144A) ...... 1,832,578 1,835,900 1,616,533 U.S. Auto Funding LLC 5.500%, 07/15/23 (144A) ...... 352,693 356,164 Water—0.0% 38,862,343 American Water Capital Corp. 2.800%, 05/01/30 ...... 750,000 793,815 Asset-Backed - Credit Card—0.7% Total Corporate Bonds & Notes Castlelake L.P. (Cost $538,736,931) ...... 565,720,262 3.340%, 03/15/23 ...... 4,900,000 4,900,000 Continental Finance Credit Card ABS Master Trust 2.240%, 12/15/28 (144A) ...... 1,500,000 1,511,909 Asset-Backed Securities—9.5% Mercury Financial Credit Card Master Trust 1.540%, 03/20/26 (144A) ...... 1,695,000 1,700,119 Asset-Backed - Automobile—2.4% World Financial Network Credit Card Master Trust AmeriCredit Automobile Receivables Trust 3.140%, 12/15/25 ...... 2,635,000 2,683,149 2.690%, 06/19/23 ...... 256,632 258,248 2.710%, 08/18/22 ...... 16,650 16,667 10,795,177 3.130%, 01/18/23 ...... 945,000 952,263 Carvana Auto Receivables Trust Asset-Backed - Other—6.4% 3.040%, 04/15/25 (144A) ...... 3,815,000 3,943,940 Ajax Mortgage Loan Trust CPS Auto Receivables Trust 2.239%, 06/25/66 (144A) (g) ...... 2,827,234 2,820,292 3.790%, 06/15/23 (144A) ...... 210,863 212,612 American Homes 4 Rent Trust 3.467%, 04/17/52 (144A) ...... 1,107,632 1,174,835 3.678%, 12/17/36 (144A) ...... 88,095 93,787

See accompanying notes to financial statements. BHFTI-199 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Asset-Backed - Other—(Continued) American Homes 4 Rent Trust HERO Funding Trust 4.201%, 12/17/36 (144A) ...... 400,000 $ 425,764 3.950%, 09/20/48 (144A) ...... 1,283,443 $ 1,341,091 4.290%, 10/17/36 (144A) ...... 300,000 319,107 4.460%, 09/20/47 (144A) ...... 1,023,606 1,077,956 4.596%, 12/17/36 (144A) ...... 250,000 268,491 Hilton Grand Vacations Trust 5.036%, 10/17/52 (144A) ...... 1,900,000 2,073,656 2.660%, 12/26/28 (144A) ...... 353,657 362,076 5.639%, 04/17/52 (144A) ...... 500,000 547,419 KGS-Alpha SBA COOF Trust 6.231%, 10/17/36 (144A) ...... 650,000 713,705 0.608%, 05/25/39 (144A) (a) (c) ...... 2,509,248 35,488 6.418%, 12/17/36 (144A) ...... 300,000 328,409 0.762%, 08/25/38 (144A) (a) (c) ...... 1,873,081 38,486 American Tower Trust I 1.759%, 03/25/39 (144A) (a) (c) ...... 1,887,202 74,526 3.070%, 03/15/48 (144A) ...... 920,000 924,475 3.569%, 04/25/40 (144A) (a) (c) ...... 497,083 40,672 Business Jet Securities LLC LFT CRE, Ltd. 2.162%, 04/15/36 (144A) ...... 1,643,723 1,656,358 2.050%, 1M LIBOR + 1.950%, 06/15/39 (144A) † (a) . . . 3,280,000 3,279,997 2.918%, 04/15/36 (144A) ...... 3,015,564 3,040,636 LL ABS Trust 2.981%, 11/15/35 (144A) ...... 1,696,926 1,727,569 2.330%, 01/17/28 (144A) ...... 1,192,834 1,201,250 4.212%, 07/15/34 (144A) ...... 2,395,294 2,463,484 LV Tower 52 Issuer LLC Camillo 5.750%, 07/15/49 (144A) † (h) (i) ...... 876,664 884,195 5.000%, 12/05/23 (h) (i) ...... 3,370,058 3,458,522 7.750%, 02/15/23 (144A) † (h) (i) ...... 351,739 354,760 Cars Net Lease Mortgage Notes Nationstar HECM Loan Trust 3.100%, 12/15/50 (144A) ...... 598,500 613,799 1.269%, 09/25/30 (144A) (a) ...... 2,466,241 2,472,409 Colony American Finance, Ltd. NRZ Excess Spread-Collateralized Notes 2.554%, 11/15/48 (144A) ...... 108,377 108,376 3.228%, 05/25/26 (144A) ...... 2,684,871 2,679,026 Commercial Mortgage Securities Association 3.844%, 12/25/25 (144A) ...... 2,593,800 2,618,233 3.500%, 07/25/23 (h) (i) ...... 2,209,714 2,207,504 Oportun Funding X LLC Conix Mortgage Asset Trust 4.100%, 10/08/24 (144A) ...... 6,506,000 6,510,772 4.704%, 12/25/47 (144A) † (a) (h) (i) ...... 1,078,519 17,041 Pagaya AI Debt Selection Trust COOF Securitization Trust, Ltd. 1.180%, 11/15/27 (144A) ...... 5,154,685 5,165,504 3.018%, 06/25/40 (144A) (a) (c) ...... 564,185 49,049 Pretium Mortgage Credit Partners I LLC CoreVest American Finance Trust 3.105%, 06/27/60 (144A) (g) ...... 1,810,434 1,828,091 2.705%, 10/15/52 (144A) ...... 1,447,308 1,514,559 Progress Residential 3.880%, 03/15/52 (144A) ...... 2,470,000 2,720,891 2.409%, 05/17/38 (144A) ...... 1,960,000 1,956,319 Crossroads Asset Trust Progress Residential Trust 1.440%, 01/20/26 (144A) ...... 1,650,000 1,649,314 4.656%, 08/17/35 (144A) ...... 2,568,000 2,582,300 DataBank Issuer Regional Management Issuance Trust 2.060%, 02/27/51 (144A) ...... 1,950,000 1,975,343 3.040%, 03/17/31 (144A) ...... 2,309,000 2,290,397 Diamond Resorts Owner Trust Renew Financial 3.270%, 10/22/29 (144A) ...... 485,632 493,454 3.670%, 09/20/52 (144A) ...... 439,492 461,808 3.700%, 01/21/31 (144A) ...... 986,415 1,027,603 Sierra Timeshare Receivables Funding LLC FirstKey Homes Trust 1.330%, 07/20/37 (144A) ...... 1,509,528 1,517,370 2.668%, 10/19/37 (144A) ...... 3,700,000 3,761,069 SOL S.p.A. Fort Credit LLC 4.160%, 02/09/30 ...... 1,100,947 1,144,618 2.926%, 1M LIBOR + 2.830%, 11/16/35 (144A) † (a) . . . 5,900,000 5,788,101 Upstart Securitization Trust Foundation Finance Trust 0.870%, 03/20/31 (144A) ...... 1,978,631 1,982,483 3.860%, 11/15/34 (144A) ...... 919,200 949,250 1.890%, 03/20/31 (144A) ...... 914,000 919,257 Freedom Financial Network LLC VM DEBT LLC 2.620%, 11/18/26 (144A) ...... 83,965 84,089 7.500%, 06/15/24 ...... 2,352,962 2,352,962 FTF Funding II LLC VOLT C LLC 3.100%, 08/15/24 ...... 746,693 565,620 1.992%, 05/25/51 (144A) (g) ...... 1,989,977 1,990,843 Gold Key Resorts LLC VOLT CI LLC 3.220%, 03/17/31 (144A) ...... 94,289 95,432 1.992%, 05/25/51 (144A) (g) ...... 1,897,232 1,898,531 Goodgreen Trust VOLT LLC 2.760%, 04/15/55 (144A) ...... 1,495,289 1,531,844 2.240%, 03/27/51 (144A) (g) ...... 1,405,776 1,405,891 3.260%, 10/15/53 (144A) ...... 1,653,816 1,725,695 2.240%, 04/25/51 (144A) (g) ...... 2,737,107 2,737,627 3.740%, 10/15/52 (144A) ...... 344,183 363,854 VSE VOI Mortgage LLC 5.000%, 10/20/51 ...... 2,417,653 2,405,565 3.560%, 02/20/36 (144A) ...... 714,520 751,374 HERO Funding Trust 106,012,038 3.080%, 09/20/42 (144A) ...... 359,522 371,765

See accompanying notes to financial statements. BHFTI-200 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Student Loan—0.0% Collateralized Mortgage Obligations—(Continued) Academic Loan Funding Trust Sequoia Mortgage Trust 0.892%, 1M LIBOR + 0.800%, 12/26/44 (144A) (a) ..... 665,737 $ 657,429 0.693%, 1M LIBOR + 0.600%, 12/20/34 (a) ...... 644,791 $ 660,704 Total Asset-Backed Securities 0.733%, 1M LIBOR + 0.640%, 01/20/34 (a) ...... 367,262 373,216 (Cost $156,157,479) ...... 156,326,987 0.753%, 1M LIBOR + 0.660%, 07/20/33 (a) ...... 409,600 406,236 0.773%, 1M LIBOR + 0.680%, 10/20/34 (a) ...... 670,664 655,635 0.853%, 1M LIBOR + 0.760%, 04/20/33 (a) ...... 304,315 308,349 Mortgage-Backed Securities—7.3% Structured Asset Mortgage Investments Trust 0.993%, 1M LIBOR + 0.900%, 05/19/33 (a) ...... 541,184 552,236 Collateralized Mortgage Obligations—5.1% Structured Asset Mortgage Investments Trust II ACRE TL 0.793%, 1M LIBOR + 0.700%, 01/19/34 (a) ...... 660,683 659,597 6.400%, 12/15/21 (h) (i) ...... 2,072,727 2,052,000 0.793%, 1M LIBOR + 0.700%, 03/19/34 (a) ...... 612,714 611,665 Banc of America Funding Trust Structured Asset Securities Corp. Mortgage Pass-Through 2.560%, 05/20/34 (a) ...... 157,939 163,773 Certificates BVRT Financing Trust 2.738%, 11/25/33 (a) ...... 213,426 216,966 0.010%, 11/10/32 (h) (i) ...... 1,441,416 1,441,416 Thornburg Mortgage Securities Trust 3.152%, 11/10/22 (144A) † (h) (i) ...... 2,766,538 2,766,538 0.732%, 1M LIBOR + 0.640%, 09/25/43 (a) ...... 307,284 312,830 FMC GMSR Issuer Trust 1.940%, 12/25/44 (a) ...... 357,814 357,518 3.690%, 02/25/24 ...... 5,000,000 5,000,605 2.178%, 04/25/45 (a) ...... 696,628 708,495 4.450%, 01/25/26 (144A) (a) ...... 3,100,000 3,114,526 Toorak Mortgage Corp. Global Mortgage Securitization, Ltd. 3.721%, 09/25/22 (g) ...... 2,107,000 2,132,955 0.412%, 1M LIBOR + 0.320%, 11/25/32 (144A) (a) ..... 190,820 184,192 Towd Point Mortgage Trust HarborView Mortgage Loan Trust 2.918%, 11/30/60 (144A) (a) ...... 4,781,944 4,879,840 2.732%, 05/19/34 (a) ...... 438,334 442,564 VOLT XCII LLC Headlands Residential LLC 1.893%, 02/27/51 (144A) (g) ...... 1,225,631 1,225,704 3.875%, 08/25/24 (144A) (g) ...... 4,450,000 4,481,525 VOLT XCIII LLC 3.875%, 11/25/24 (144A) (g) ...... 3,600,000 3,629,106 1.893%, 02/27/51 (144A) (g) ...... 4,009,306 4,004,719 3.967%, 06/25/24 (144A) (g) ...... 3,100,000 3,111,907 VOLT XCIV LLC Impac CMB Trust 2.240%, 02/27/51 (144A) (g) ...... 3,056,026 3,059,028 0.832%, 1M LIBOR + 0.740%, 11/25/34 (a) ...... 1,298,200 1,311,161 84,118,486 JPMorgan Mortgage Trust 2.472%, 08/25/34 (a) ...... 64,350 67,560 Commercial Mortgage-Backed Securities—2.2% LHOME Mortgage Trust BAMLL Commercial Mortgage Securities Trust 2.090%, 09/25/26 (144A) (a) ...... 1,525,000 1,522,632 4.354%, 08/15/46 (144A) (a) ...... 1,200,000 1,283,675 MASTR Asset Securitization Trust BB-UBS Trust 5.500%, 12/25/33 ...... 118,737 117,898 3.430%, 11/05/36 (144A) ...... 2,950,000 3,124,644 Merrill Lynch Mortgage Investors Trust Citigroup Commercial Mortgage Trust 0.552%, 1M LIBOR + 0.460%, 04/25/29 (a) ...... 202,536 201,104 2.717%, 02/15/53 ...... 4,330,000 4,572,976 0.592%, 1M LIBOR + 0.500%, 05/25/29 (a) ...... 608,516 607,217 Commercial Mortgage Trust 0.712%, 1M LIBOR + 0.620%, 10/25/28 (a) ...... 236,308 238,965 0.253%, 07/10/45 (144A) (a) (c) ...... 119,969,349 560,989 0.732%, 1M LIBOR + 0.640%, 10/25/28 (a) ...... 364,243 366,121 2.896%, 02/10/37 (144A) ...... 3,050,000 3,103,005 0.859%, 6M LIBOR + 0.680%, 01/25/29 (a) ...... 342,576 342,559 3.942%, 04/10/33 (144A) (a) ...... 1,450,000 1,588,818 MRA Issuance Trust Credit Suisse Mortgage Capital Certificates 1.842%, 1M LIBOR + 1.750%, 02/16/22 (144A) (a) ..... 5,100,000 5,102,157 4.373%, 09/15/37 (144A) ...... 1,000,000 959,229 2.000%, 04/01/22 ...... 4,450,000 4,450,000 Independence Plaza Trust 2.874%, 1M LIBOR + 2.750%, 02/16/22 (144A) (a) ..... 5,100,000 5,100,398 3.763%, 07/10/35 (144A) ...... 2,935,000 3,110,729 Preston Ridge Partners Mortgage LLC Ladder Capital Commercial Mortgage Trust 2.115%, 01/25/26 (144A) (a) ...... 2,930,866 2,936,161 3.985%, 02/15/36 (144A) ...... 768,000 859,384 PRPM LLC MRCD Mortgage Trust 1.867%, 04/25/26 (144A) (g) ...... 1,838,259 1,847,282 2.718%, 12/15/36 (144A) ...... 1,997,000 2,012,056 RCO V Mortgage LLC RBS Commercial Funding, Inc. Trust 3.105%, 09/25/25 (144A) (g) ...... 2,601,645 2,622,484 3.260%, 03/11/31 (144A) ...... 531,000 543,327 Seasoned Credit Risk Transfer Trust RR Trust 3.500%, 07/25/58 ...... 3,934,554 4,290,297 Zero Coupon, 04/26/48 (144A) † (b) ...... 8,830,000 8,124,121 3.500%, 10/25/58 ...... 1,331,327 1,519,419 SLG Office Trust 4.000%, 11/25/57 ...... 3,650,826 3,961,226 2.585%, 07/15/41 (144A) ...... 3,090,000 3,218,664

See accompanying notes to financial statements. BHFTI-201 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mortgage-Backed Securities—(Continued) Securities Lending Reinvestments (j)—2.9%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Commercial Mortgage-Backed Securities—(Continued) Certificates of Deposit—0.5% VNDO Mortgage Trust Agricultural Bank of China 2.996%, 11/15/30 (144A) ...... 1,400,000 $ 1,438,127 0.100%, 07/01/21 ...... 600,000 $ 599,999 Wells Fargo Commercial Mortgage Trust Industrial & Commercial Bank of China Ltd. 1.223%, 1M LIBOR + 1.150%, 02/15/40 (144A) (a) ..... 1,545,337 1,551,707 0.110%, 07/22/21 ...... 2,000,000 1,999,914 WF-RBS Commercial Mortgage Trust Oversea-Chinese Banking Corp., Ltd. 4.383%, 03/15/45 (144A) (a) ...... 300,000 294,754 0.167%, 3M LIBOR + 0.020%, 03/25/22 (a) ...... 2,000,000 2,000,008 36,346,205 Rabobank International London 0.266%, 3M LIBOR + 0.080%, 07/30/21 (a) ...... 1,000,000 1,000,150 Total Mortgage-Backed Securities Royal Bank of Canada New York (Cost $117,324,440) ...... 120,464,691 0.240%, 3M LIBOR + 0.040%, 10/05/21 (a) ...... 1,000,000 1,000,177 Toronto-Dominion Bank Foreign Government—0.6% 0.330%, 3M LIBOR + 0.130%, 07/02/21 (a) ...... 1,000,000 1,000,008 7,600,256 Sovereign—0.6% Chile Government International Bond Repurchase Agreements—1.5% 2.550%, 01/27/32 (e) ...... 394,000 402,668 Barclays Bank plc Colombia Government International Bonds Repurchase Agreement dated 06/30/21 at 0.200%, due on 4.000%, 02/26/24 ...... 923,000 977,642 07/01/21 with a maturity value of $2,300,013; 5.000%, 06/15/45 ...... 749,000 795,588 collateralized by various Common Stock with an aggregate 5.625%, 02/26/44 ...... 200,000 226,460 market value of $2,555,752...... 2,300,000 2,300,000 7.375%, 09/18/37 ...... 200,000 262,756 Barclays Capital, Inc. Israel Government AID Bond Repurchase Agreement dated 06/30/21 at 0.030%, due on Zero Coupon, 08/15/25 ...... 2,500,000 2,381,344 07/01/21 with a maturity value of $5,228,713; Mexico Government International Bonds collateralized by U.S. Treasury Obligations at 0.000%, 2.659%, 05/24/31 (e) ...... 848,000 828,403 maturity dates ranging from 05/15/29 - 11/15/43, and an 3.600%, 01/30/25 ...... 537,000 589,916 aggregate market value of $5,333,283...... 5,228,709 5,228,709 3.771%, 05/24/61 ...... 625,000 580,937 Cantor Fitzgerald & Co. 4.125%, 01/21/26 (e) ...... 189,000 213,264 Repurchase Agreement dated 06/30/21 at 0.050%, due on 4.350%, 01/15/47 ...... 228,000 237,866 07/01/21 with a maturity value of $1,250,002; 4.600%, 01/23/46 ...... 959,000 1,030,244 collateralized by U.S. Government Agency Obligations with 4.600%, 02/10/48 ...... 200,000 214,434 rates ranging from 0.920% - 7.500%, maturity dates 5.750%, 10/12/10 ...... 500,000 597,210 ranging from 11/01/23 - 06/20/71, and an aggregate Panama Government International Bond market value of $1,275,000...... 1,250,000 1,250,000 4.500%, 04/16/50 ...... 350,000 396,952 Citigroup Global Markets, Inc. Republic of South Africa Government Bond Repurchase Agreement dated 06/30/21 at 0.060%, due on 5.875%, 09/16/25 (e) ...... 384,000 433,421 07/01/21 with a maturity value of $2,000,003; Saudi Government International Bond collateralized by U.S. Treasury Obligations with rates ranging 2.250%, 02/02/33 (144A) (e) ...... 490,000 476,010 from 0.125% - 6.125%, maturity dates ranging from Total Foreign Government 08/15/29 - 02/15/31, and an aggregate market value of (Cost $10,235,101) ...... 10,645,115 $2,040,001...... 2,000,000 2,000,000 Deutsche Bank AG, London Repurchase Agreement dated 06/30/21 at 0.170%, due on Short-Term Investment—4.4% 07/01/21 with a maturity value of $300,001; collateralized by U.S. Treasury and Foreign Obligations with rates ranging Repurchase Agreement—4.4% from 0.000% - 3.375%, maturity dates ranging from Fixed Income Clearing Corp. 02/01/22 - 03/11/31, and an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.000%, due on $306,000...... 300,000 300,000 07/01/21 with a maturity value of $72,124,643; HSBC Bank plc collateralized by U.S. Treasury Note with rates ranging from Repurchase Agreement dated 06/30/21 at 0.100%, due on 2.125% - 2.375%, maturity dates ranging from 02/29/24 - 07/01/21 with a maturity value of $1,700,005; 03/31/24, and an aggregate market value of collateralized by U.S. Treasury Obligations with rates ranging $73,567,241...... 72,124,643 72,124,643 from 0.099% - 6.125%, maturity dates ranging from Total Short-Term Investments 08/31/21 - 02/15/50, and an aggregate market value of (Cost $72,124,643) ...... 72,124,643 $1,734,699...... 1,700,000 1,700,000

See accompanying notes to financial statements. BHFTI-202 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (j)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal † Restricted securities are not registered under the Securities Act of 1933 and are subject Security Description Amount* Value to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Repurchase Agreements—(Continued) Disposal of these securities may involve time-consuming negotiations and prompt sale National Bank of Canada at an acceptable price may be difficult. As of June 30, 2021, the market value of Repurchase Agreement dated 06/30/21 at 0.210%, due on restricted securities was $21,935,821, which is 1.3% of net assets. See details shown in 07/07/21 with a maturity value of $3,000,123; the Restricted Securities table that follows. collateralized by various Common Stock with an aggregate (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. market value of $3,333,353...... 3,000,000 $ 3,000,000 Maturity date shown for callable securities reflects the earliest possible call date. For NBC Global Finance, Ltd. securities based on a published reference index and spread, the index and spread are Repurchase Agreement dated 06/30/21 at 0.245%, due on indicated in the description above. For certain variable rate securities, the coupon rate is 07/07/21 with a maturity value of $1,700,081; determined by the issuer/agent based on current market conditions. For certain asset- collateralized by U.S. Treasury Obligations with rates ranging and mortgage-backed securities, the coupon rate may fluctuate based on changes of the from 1.875% - 3.000%, maturity dates ranging from underlying collateral or prepayments of principal. These securities do not indicate a 07/31/22 - 02/15/49, and various Common Stock with an reference index and spread in their description above. aggregate market value of $1,888,889...... 1,700,000 1,700,000 (b) Principal only security. Repurchase Agreement dated 06/30/21 at 0.260%, due on (c) Interest only security. 07/07/21 with a maturity value of $200,010; collateralized (d) TBA (To Be Announced) Securities are purchased on a forward commitment basis with by U.S. Treasury Obligations with rates ranging from an approximate principal amount and no defined maturity date. The actual principal 2.125% - 3.875%, maturity dates ranging from 12/31/23 - and maturity date will be determined upon settlement date. 04/15/29, and various Common Stock with an aggregate (e) All or a portion of the security was held on loan. As of June 30, 2021, the market value market value of $222,261...... 200,000 200,000 of securities loaned was $48,434,537 and the collateral received consisted of cash in Societe Generale the amount of $46,881,193 and non-cash collateral with a value of $2,512,595. The Repurchase Agreement dated 06/30/21 at 0.180%, due on cash collateral investments are disclosed in the Schedule of Investments and categorized 07/01/21 with a maturity value of $5,300,027; as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. collateralized by various Common Stock with an aggregate government securities that are held in safe-keeping by the lending agent, or a third- market value of $5,889,012...... 5,300,000 5,300,000 party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral Repurchase Agreement dated 06/30/21 at 0.185%, due on is excluded from the Statement of Assets and Liabilities. 07/01/21 with a maturity value of $2,600,013; (f) Principal amount of security is adjusted for inflation. collateralized by various Common Stock with an aggregate (g) Security is a “step-up” bond where coupon increases or steps up at a predetermined market value of $2,888,981...... 2,600,000 2,600,000 date. Rate shown is current coupon rate. 25,578,709 (h) Security was valued in good faith under procedures approved by the Board of Trustees. As of June 30, 2021, these securities represent 0.8% of net assets. Time Deposits—0.3% (i) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. ABN AMRO Bank NV Level 3. 0.080%, 07/01/21 ...... 2,000,000 2,000,000 (j) Represents investment of cash collateral received from securities on loan as of June 30, Landesbank Baden-Wuettertemberg (London) 2021. 0.130%, 07/01/21 ...... 200,000 200,000 (k) The rate shown represents the annualized seven-day yield as of June 30, 2021. National Bank of Canada (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. 0.130%, OBFR + 0.050%, 07/07/21 (a) ...... 2,000,000 2,000,000 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2021, the market value of 144A securities 4,200,000 was $359,508,241, which is 21.8% of net assets.

Mutual Funds—0.6% Goldman Sachs Financial Square Government Fund, Institutional Shares 0.020% (k) ...... 1,000,000 1,000,000 Wells Fargo Government Money Market Fund, Select Class 0.030% (k) ...... 8,502,484 8,502,484 9,502,484 Total Securities Lending Reinvestments (Cost $46,881,193) ...... 46,881,449 Total Investments—105.9% (Cost $1,680,335,908) ...... 1,745,688,253 Other assets and liabilities (net)—(5.9)% ...... (97,236,983) Net Assets—100.0% ...... $1,648,451,270

See accompanying notes to financial statements. BHFTI-203 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Acquisition Principal Restricted Securities Date Amount Cost Value BVRT Financing Trust, 3.152%, 11/10/22 ...... 12/02/20 $2,766,538 $2,766,538 $ 2,766,538 Conix Mortgage Asset Trust, 4.704%, 12/25/47 ...... 05/16/13 1,078,519 1,078,519 17,041 Credit Agricole S.A., 2.811%, 01/11/41 ...... 01/05/21 410,000 410,000 389,010 Fort Credit LLC, 2.926%, 11/16/35 ...... 11/28/18 5,900,000 5,900,000 5,788,101 LFT CRE, Ltd., 2.050%, 06/15/39 ...... 05/26/21 3,280,000 3,280,000 3,279,997 LV Tower 52 Issuer LLC, 5.750%, 07/15/49 ...... 08/03/15-02/10/17 876,664 875,679 884,195 LV Tower 52 Issuer LLC, 7.750%, 02/15/23 ...... 08/03/15-02/10/17 351,739 351,504 354,760 National Australia Bank, Ltd., 2.648%, 01/14/41 ...... 01/05/21 355,000 355,000 332,058 RR Trust, Zero Coupon, 04/26/48 ...... 05/24/18-05/29/18 8,830,000 5,926,793 8,124,121 $21,935,821

Glossary of Abbreviations

Index Abbreviations (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (OBFR)— U.S. Overnight Bank Funding Rate Maturity Index (SOFR)— Secured Overnight Financing Rate (LIBOR)— London Interbank Offered Rate

Other Abbreviations (ARM)— Adjustable-Rate Mortgage (CMO)— Collateralized Mortgage Obligation (REMIC)— Real Estate Mortgage Investment Conduit (ACES)— Alternative Credit Enhancement Securities (ICE)— Intercontinental Exchange, Inc. (STACR)— Structured Agency Credit Risk

See accompanying notes to financial statements. BHFTI-204 Brighthouse Funds Trust I JPMorgan Core Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $ — $ 773,525,106 $ — $ 773,525,106 Total Corporate Bonds & Notes* ...... — 565,720,262 — 565,720,262 Asset-Backed Securities Asset-Backed - Automobile ...... — 38,862,343 — 38,862,343 Asset-Backed - Credit Card ...... — 10,795,177 — 10,795,177 Asset-Backed - Other ...... — 99,090,016 6,922,022 106,012,038 Asset-Backed - Student Loan ...... — 657,429 — 657,429 Total Asset-Backed Securities ...... — 149,404,965 6,922,022 156,326,987 Mortgage-Backed Securities Collateralized Mortgage Obligations ...... — 77,858,532 6,259,954 84,118,486 Commercial Mortgage-Backed Securities ...... — 36,346,205 — 36,346,205 Total Mortgage-Backed Securities ...... — 114,204,737 6,259,954 120,464,691 Total Foreign Government* ...... — 10,645,115 — 10,645,115 Total Short-Term Investment* ...... — 72,124,643 — 72,124,643 Securities Lending Reinvestments Certificates of Deposit ...... — 7,600,256 — 7,600,256 Repurchase Agreements ...... — 25,578,709 — 25,578,709 Time Deposits ...... — 4,200,000 — 4,200,000 Mutual Funds ...... 9,502,484 — — 9,502,484 Total Securities Lending Reinvestments ...... 9,502,484 37,378,965 — 46,881,449 Total Investments ...... $9,502,484 $1,723,003,793 $13,181,976 $1,745,688,253 Collateral for Securities Loaned (Liability) ...... $ — $ (46,881,193) $ — $ (46,881,193)

* 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:

Change in Unrealized Appreciation Change in Balance (Depreciation) Balance as of Realized Unrealized Amortization as of from Investments December 31, Gain Appreciation Premium/ June 30, Held at June 30, Investments in Securities 2020 (Loss) (Depreciation) Purchases Sales Discount 2021 2021 Asset-Backed Securities Asset-Backed - Other ...... $10,005,808 $43,060 $101,034 $ — $(3,231,558) $3,678 $ 6,922,022 $101,034 Mortgage-Backed Securities Collateralized Mortgage Obligations ...... 7,642,000 (539) 17,812 2,150,000 (3,549,319) — 6,259,954 17,812 Total ...... $17,647,808 $42,521 $118,846 $2,150,000 $(6,780,877) $3,678 $13,181,976 $118,846

See accompanying notes to financial statements. BHFTI-205 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—39.4% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.4% Banks—(Continued) Airbus SE (a) ...... 4,502 $ 579,770 Bank Rakyat Indonesia Persero Tbk PT ...... 4,167,300 $ 1,132,356 General Dynamics Corp...... 7,191 1,353,778 BAWAG Group AG (a) ...... 5,900 313,998 Northrop Grumman Corp...... 4,564 1,658,694 BNP Paribas S.A...... 67,571 4,231,573 Raytheon Technologies Corp...... 30,000 2,559,300 BOC Hong Kong Holdings, Ltd...... 523,500 1,774,445 Safran S.A...... 12,361 1,715,019 Capitec Bank Holdings, Ltd...... 10,014 1,183,104 Thales S.A...... 3,469 354,132 Citigroup, Inc...... 34,560 2,445,120 8,220,693 Citizens Financial Group, Inc...... 44,339 2,033,830 Commonwealth Bank of Australia ...... 10,845 811,022 Air Freight & Logistics—0.3% Credicorp, Ltd. (a) ...... 4,555 551,656 Deutsche Post AG ...... 51,968 3,535,952 DBS Group Holdings, Ltd...... 157,400 3,492,859 FedEx Corp...... 5,797 1,729,419 DNBASA ...... 69,827 1,520,885 Kintetsu World Express, Inc...... 8,200 172,911 Erste Group Bank AG ...... 29,440 1,079,187 PostNL NV ...... 156,172 847,597 FinecoBank Banca Fineco S.p.A. (a) ...... 65,313 1,141,311 United Parcel Service, Inc. - Class B ...... 4,259 885,744 First Republic Bank ...... 1,900 355,623 Yamato Holdings Co., Ltd...... 4,800 136,494 Grupo Financiero Banorte S.A.B. de C.V. - Class O ...... 128,179 825,377 HDFC Bank, Ltd. (ADR) (a) ...... 61,163 4,472,239 7,308,117 HSBC Holdings plc ...... 147,323 850,172 ING Groep NV ...... 191,362 2,531,655 Airlines—0.1% Intesa Sanpaolo S.p.A...... 166,158 458,605 Delta Air Lines, Inc. (a) ...... 9,768 422,564 Itau Unibanco Holding S.A. (ADR) ...... 163,965 985,430 Japan Airlines Co., Ltd. (a) ...... 18,900 408,910 KBC Group NV ...... 17,285 1,316,651 Qantas Airways, Ltd. (a) ...... 118,837 416,651 KeyCorp ...... 2,839 58,625 Ryanair Holdings plc (ADR) (a) (b) ...... 3,266 353,414 Kotak Mahindra Bank, Ltd. (a) ...... 67,275 1,544,284 Southwest Airlines Co. (a) ...... 4,280 227,225 Lloyds Banking Group plc ...... 2,081,935 1,346,824 1,828,764 M&T Bank Corp...... 15,680 2,278,461 Mitsubishi UFJ Financial Group, Inc...... 303,800 1,640,020 Auto Components—0.2% National Australia Bank, Ltd...... 19,913 390,843 Aptiv plc (a) ...... 877 137,979 Natwest Group plc ...... 421,746 1,185,057 Bridgestone Corp. (b) ...... 15,200 691,339 Norwegian Finans Holding ASA ...... 55,460 624,584 Denso Corp...... 4,800 327,303 Oversea-Chinese Banking Corp., Ltd...... 210,800 1,874,790 Faurecia SE ...... 2,043 100,338 PNC Financial Services Group, Inc. (The) ...... 11,251 2,146,241 Magna International, Inc...... 3,135 290,426 Regions Financial Corp...... 18,780 378,980 Sumitomo Electric Industries, Ltd...... 45,600 672,434 Sberbank of Russia PJSC (ADR) ...... 63,753 1,064,038 Sumitomo Rubber Industries, Ltd. (b) ...... 60,000 827,667 Shinsei Bank, Ltd...... 16,500 215,693 Toyota Boshoku Corp...... 13,600 281,081 ...... 933 229,191 TS Tech Co., Ltd...... 24,400 376,485 Skandinaviska Enskilda Banken AB - Class A ...... 81,094 1,046,901 Societe Generale S.A...... 19,496 574,094 3,705,052 Standard Chartered plc ...... 112,211 714,954 Sumitomo Mitsui Financial Group, Inc...... 66,800 2,298,904 Automobiles—0.8% Sumitomo Mitsui Trust Holdings, Inc. (b) ...... 28,900 914,723 Daimler AG ...... 27,515 2,457,923 SVB Financial Group (a) ...... 415 230,918 General Motors Co. (a) ...... 4,839 286,324 Svenska Handelsbanken AB - A Shares ...... 113,913 1,284,684 Honda Motor Co., Ltd...... 13,200 423,185 Truist Financial Corp...... 43,284 2,402,262 Isuzu Motors, Ltd...... 54,000 716,238 U.S. Bancorp ...... 37,205 2,119,569 Stellantis NV ...... 100,128 1,964,267 United Overseas Bank, Ltd...... 97,600 1,876,891 Stellantis NV (Milan-Traded Shares) ...... 35,091 692,334 Wells Fargo & Co...... 93,951 4,255,041 Suzuki Motor Corp...... 11,400 482,183 Westpac Banking Corp...... 123,308 2,376,145 Tesla, Inc. (a) ...... 3,937 2,675,979 Toyota Motor Corp...... 71,800 6,267,969 78,680,260

15,966,402 Beverages—0.8% Ambev S.A. (ADR) ...... 210,012 722,441 Banks—3.8% Anheuser-Busch InBev S.A...... 3,352 241,392 Australia & New Zealand Banking Group, Ltd...... 40,151 845,768 Asahi Group Holdings, Ltd. (b) ...... 25,600 1,195,712 Banco Bilbao Vizcaya Argentaria S.A. (a) ...... 118,155 735,084 Budweiser Brewing Co. APAC, Ltd...... 409,100 1,287,677 Banco Santander S.A. (a) ...... 137,879 525,688 Carlsberg AS - Class B ...... 15,893 2,967,025 Bank Central Asia Tbk PT ...... 443,400 921,228 Coca-Cola Co. (The) ...... 17,207 931,071 Bank of America Corp...... 171,542 7,072,677 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-206 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Beverages—(Continued) Capital Markets—(Continued) Constellation Brands, Inc. - Class A ...... 5,135 $ 1,201,025 Hong Kong Exchanges & Clearing, Ltd...... 42,500 $ 2,533,261 Diageo plc ...... 75,482 3,617,362 Intercontinental Exchange, Inc...... 5,153 611,661 Fomento Economico Mexicano S.A.B. de C.V. (ADR) ...... 7,879 665,854 Invesco, Ltd...... 21,119 564,511 Heineken NV ...... 1,401 169,842 Julius Baer Group, Ltd...... 17,316 1,129,363 Keurig Dr Pepper, Inc. (b) ...... 24,200 852,808 Group plc ...... 1,533 169,087 Kweichow Moutai Co., Ltd. - Class A ...... 6,056 1,928,473 Macquarie Group, Ltd...... 1,472 172,649 Pernod Ricard S.A...... 1,329 294,983 Morgan Stanley ...... 32,451 2,975,432 Northern Trust Corp...... 11,369 1,314,484 16,075,665 S&P Global, Inc. (b) ...... 3,502 1,437,396 State Street Corp...... 6,484 533,503 Biotechnology—0.6% Swissquote Group Holding S.A...... 5,431 821,004 AbbVie, Inc...... 37,216 4,192,010 T. Rowe Price Group, Inc...... 9,164 1,814,197 Agios Pharmaceuticals, Inc. (a) (b) ...... 2,301 126,808 UBS Group AG ...... 186,506 2,855,684 Alexion Pharmaceuticals, Inc. (a) ...... 744 136,680 Alnylam Pharmaceuticals, Inc. (a) ...... 1,140 193,253 27,814,037 Amgen, Inc...... 3,328 811,200 Biogen, Inc. (a) ...... 2,850 986,869 Chemicals—0.6% CSL, Ltd...... 11,312 2,419,950 Air Liquide S.A...... 9,848 1,725,607 Exact Sciences Corp. (a) (b) ...... 2,220 275,968 Air Products & Chemicals, Inc...... 550 158,224 Exelixis, Inc. (a) ...... 9,012 164,199 Akzo Nobel NV ...... 12,787 1,580,162 Horizon Therapeutics plc (a) ...... 3,043 284,947 Asahi Kasei Corp...... 77,700 850,874 Regeneron Pharmaceuticals, Inc. (a) ...... 2,538 1,417,575 BASF SE ...... 5,035 396,768 Vertex Pharmaceuticals, Inc. (a) ...... 2,535 511,132 Celanese Corp...... 1,215 184,194 DuPont de Nemours, Inc...... 5,389 417,162 11,520,591 Eastman Chemical Co...... 5,142 600,328 Givaudan S.A...... 249 1,158,110 Building Products—0.4% Koninklijke DSM NV ...... 3,358 626,906 AGC, Inc. (b) ...... 7,000 293,833 Linde plc ...... 1,315 380,167 Cie de Saint-Gobain ...... 21,676 1,429,163 LyondellBasell Industries NV - Class A ...... 907 93,303 Daikin Industries, Ltd...... 5,200 967,985 Mitsui Chemicals, Inc...... 26,500 912,359 Fortune Brands Home & Security, Inc...... 9,026 899,080 PPG Industries, Inc...... 4,274 725,597 Johnson Controls International plc ...... 2,599 178,369 Shin-Etsu Chemical Co., Ltd...... 13,100 2,189,592 Kingspan Group plc ...... 6,416 606,051 Teijin, Ltd...... 18,700 284,080 Masco Corp...... 6,651 391,810 Trane Technologies plc ...... 8,315 1,531,124 12,283,433 Uponor Oyj ...... 11,635 337,442 Xinyi Glass Holdings, Ltd...... 308,000 1,255,516 Commercial Services & Supplies—0.1% Zehnder Group AG ...... 2,879 274,569 Cintas Corp...... 366 139,812 Copart, Inc. (a) ...... 2,690 354,623 8,164,942 Okamura Corp...... 67,500 910,938 SPIE S.A...... 36,884 849,248 Capital Markets—1.3% 3i Group plc ...... 149,375 2,427,992 2,254,621 Allfunds Group plc (a) ...... 19,625 341,637 Ameriprise Financial, Inc...... 404 100,547 Communications Equipment—0.2% B3 S.A. - Brasil Bolsa Balcao ...... 233,616 790,024 Cisco Systems, Inc...... 23,967 1,270,251 BlackRock, Inc...... 430 376,237 CommScope Holding Co., Inc. (a) ...... 67,528 1,439,022 Blackstone Group, Inc. (The) ...... 5,712 554,864 Motorola Solutions, Inc...... 338 73,295 Nokia Oyj (a) ...... 27,310 146,248 Brookfield Asset Management Reinsurance Partners, Ltd. - VTech Holdings, Ltd...... 152,500 1,605,666 Class A (a) ...... 78 4,070 Brookfield Asset Management, Inc. - Class A ...... 11,344 578,317 4,534,482 Charles Schwab Corp. (The) ...... 30,710 2,235,995 CMC Markets plc ...... 29,958 190,466 Construction & Engineering—0.1% Credit Suisse Group AG ...... 24,199 253,272 Kyudenko Corp...... 8,800 281,671 Deutsche Boerse AG ...... 1,007 175,773 Nippo Corp...... 9,900 281,959 DWS Group GmbH & Co. KGaA ...... 13,904 630,263 Quanta Services, Inc...... 3,924 355,397 NV ...... 10,182 1,107,668 Vinci S.A...... 9,972 1,064,809 Goldman Sachs Group, Inc. (The) ...... 2,937 1,114,680 1,983,836 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-207 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Construction Materials—0.3% Electric Utilities—(Continued) CRHplc ...... 19,089 $ 968,530 Endesa S.A. (b) ...... 25,665 $ 622,609 CSR, Ltd...... 167,118 723,602 Enel S.p.A...... 73,554 683,411 Holcim, Ltd. (a) ...... 26,218 1,572,989 Entergy Corp...... 6,734 671,380 Martin Marietta Materials, Inc...... 4,251 1,495,544 Evergy, Inc...... 5,500 332,365 Wienerberger AG ...... 26,992 1,041,439 Iberdrola S.A...... 288,928 3,520,711 5,802,104 NextEra Energy, Inc...... 30,417 2,228,958 Orsted A/S ...... 8,389 1,180,190 Consumer Finance—0.3% PG&E Corp. (a) ...... 58,988 599,908 American Express Co...... 10,581 1,748,298 Xcel Energy, Inc...... 33,469 2,204,938 Capital One Financial Corp...... 23,959 3,706,218 14,775,672 Discover Financial Services ...... 1,655 195,770 5,650,286 Electrical Equipment—0.5% AMETEK, Inc...... 2,330 311,055 Containers & Packaging—0.3% Eaton Corp. plc ...... 5,834 864,482 Ball Corp...... 4,431 359,000 Generac Holdings, Inc. (a) ...... 1,632 677,525 Crown Holdings, Inc...... 1,374 140,437 Mitsubishi Electric Corp...... 26,000 376,698 Graphic Packaging Holding Co...... 29,545 535,946 Nidec Corp...... 5,600 648,594 Packaging Corp. of America ...... 9,707 1,314,522 Schneider Electric SE ...... 32,943 5,185,707 SIG Combibloc Group AG (a) ...... 55,926 1,519,874 Signify NV ...... 26,455 1,673,630 Smurfit Kappa Group plc ...... 5,621 304,954 WEG S.A...... 108,888 737,552 WestRock Co...... 25,559 1,360,250 10,475,243 5,534,983 Electronic Equipment, Instruments & Components—0.4% Distributors—0.1% Amphenol Corp. - Class A ...... 2,015 137,846 D’ieteren Group ...... 8,956 1,083,125 Arrow Electronics, Inc. (a) ...... 4,114 468,297 Delta Electronics, Inc...... 161,867 1,757,462 Diversified Consumer Services—0.0% Keyence Corp...... 4,500 2,269,997 Bright Horizons Family Solutions, Inc. (a) ...... 1,499 220,518 Keysight Technologies, Inc. (a) ...... 2,647 408,723 New Oriental Education & Technology Group, Inc. (ADR) (a) . . . 46,004 376,773 Largan Precision Co., Ltd...... 6,000 667,564 Murata Manufacturing Co., Ltd...... 13,600 1,037,817 597,291 Shimadzu Corp...... 11,700 452,133 Softwareone Holding AG (a) ...... 24,060 568,400 Diversified Financial Services—0.4% SYNNEX Corp...... 6,660 810,921 Berkshire Hathaway, Inc. - Class B (a) ...... 21,994 6,112,573 Zebra Technologies Corp. - Class A (a) ...... 820 434,182 M&Gplc...... 37,827 120,000 Mitsubishi HC Capital, Inc...... 107,500 573,774 9,013,342 ORIX Corp...... 110,800 1,864,379 Voya Financial, Inc...... 1,280 78,720 Entertainment—0.7% Capcom Co., Ltd...... 28,900 845,706 8,749,446 Konami Holdings Corp...... 12,300 738,078 NetEase, Inc...... 10,400 239,924 Diversified Telecommunication Services—0.5% NetEase, Inc. (ADR) ...... 8,895 1,025,149 Bezeq The Israeli Telecommunication Corp., Ltd. (a) ...... 428,438 466,729 Netflix, Inc. (a) ...... 1,958 1,034,235 Deutsche Telekom AG ...... 82,277 1,739,411 Nexon Co., Ltd...... 24,000 535,050 Internet Initiative Japan, Inc...... 20,100 626,339 Nintendo Co., Ltd...... 5,400 3,141,936 Koninklijke KPN NV ...... 263,689 823,787 Roku, Inc. (a) ...... 1,306 599,780 Nippon Telegraph & Telephone Corp...... 91,600 2,386,045 Sea, Ltd. (ADR) (a) ...... 15,241 4,185,179 Telenor ASA ...... 5,815 98,120 Square Enix Holdings Co., Ltd...... 2,100 104,188 Verizon Communications, Inc...... 64,163 3,595,053 Walt Disney Co. (The) (a) ...... 7,780 1,367,491 9,735,484 13,816,716

Electric Utilities—0.7% Equity Real Estate Investment Trusts—0.8% American Electric Power Co., Inc...... 13,503 1,142,219 American Homes 4 Rent - Class A ...... 28,802 1,118,958 CLP Holdings, Ltd...... 22,500 222,392 Brixmor Property Group, Inc...... 52,719 1,206,738 Duke Energy Corp...... 7,025 693,508 Camden Property Trust ...... 2,468 327,430 Edison International ...... 11,641 673,083 Dexus ...... 73,469 585,702 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-208 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Equity Real Estate Investment Trusts—(Continued) Health Care Equipment & Supplies—0.5% EastGroup Properties, Inc...... 5,569 $ 915,822 Abbott Laboratories ...... 6,964 $ 807,337 Equinix, Inc...... 692 555,399 ABIOMED, Inc. (a) ...... 155 48,377 Equity LifeStyle Properties, Inc...... 1,433 106,486 Ansell, Ltd...... 51,162 1,669,955 Federal Realty Investment Trust (b) ...... 6,200 726,454 Becton Dickinson & Co...... 1,508 366,731 Goodman Group ...... 72,832 1,150,749 Boston Scientific Corp. (a) ...... 12,222 522,613 GPT Group (The) ...... 83,246 304,854 Cooper Cos., Inc. (The) ...... 733 290,466 Kimco Realty Corp. (b) ...... 62,332 1,299,622 Danaher Corp...... 658 176,581 Lamar Advertising Co. - Class A (b) ...... 2,588 270,239 DexCom, Inc. (a) ...... 1,513 646,051 Link REIT ...... 22,400 216,725 Hoya Corp...... 11,500 1,524,197 Mid-America Apartment Communities, Inc...... 10,771 1,814,052 Insulet Corp. (a) ...... 559 153,451 Prologis, Inc...... 5,193 620,719 Intuitive Surgical, Inc. (a) ...... 738 678,694 Public Storage ...... 6,106 1,836,013 Koninklijke Philips NV ...... 5,872 291,100 Rayonier, Inc. (b) ...... 36,158 1,299,157 Medtronic plc ...... 18,878 2,343,326 Sun Communities, Inc...... 705 120,837 Zimmer Biomet Holdings, Inc...... 3,815 613,528 UDR, Inc...... 1,021 50,009 10,132,407 Ventas, Inc...... 3,625 206,987 Welltower, Inc...... 6,301 523,613 Health Care Providers & Services—0.5% Weyerhaeuser Co...... 47,327 1,628,995 AmerisourceBergen Corp...... 12,161 1,392,313 16,885,560 Anthem, Inc...... 1,713 654,023 BML, Inc...... 24,500 832,755 Food & Staples Retailing—0.5% Centene Corp. (a) ...... 3,060 223,166 Bid Corp., Ltd. (a) ...... 48,553 1,052,975 Cigna Corp...... 5,775 1,369,079 Coles Group, Ltd...... 61,743 791,530 CVS Health Corp...... 16,245 1,355,483 Costco Wholesale Corp...... 1,083 428,510 HCA Healthcare, Inc...... 3,860 798,016 Endeavour Group, Ltd. (a) ...... 9,677 45,648 McKesson Corp...... 1,606 307,132 Kesko Oyj - B Shares ...... 12,294 454,137 Ship Healthcare Holdings, Inc...... 13,200 306,864 Koninklijke Ahold Delhaize NV ...... 57,493 1,709,388 UnitedHealth Group, Inc...... 9,430 3,776,149 Kroger Co. (The) ...... 991 37,965 11,014,980 President Chain Store Corp...... 106,000 999,922 Raia Drogasil S.A...... 104,366 518,494 Hotels, Restaurants & Leisure—0.4% Seven & i Holdings Co., Ltd...... 14,600 695,967 Airbnb, Inc. - Class A (a) (b) ...... 665 101,838 Sundrug Co., Ltd...... 20,700 656,862 Betsson AB - Class B (a) ...... 68,349 557,554 Sysco Corp...... 11,753 913,796 DraftKings, Inc. - Class A (a) (b) ...... 5,922 308,951 Tesco plc ...... 268,210 827,953 Evolution AB ...... 4,597 726,741 Valor Holdings Co., Ltd...... 9,200 187,427 Hilton Worldwide Holdings, Inc. (a) ...... 2,635 317,834 Wal-Mart de Mexico S.A.B. de C.V...... 294,931 963,327 Huazhu Group, Ltd. (ADR) (a) (b) ...... 10,765 568,500 Woolworths Group, Ltd...... 9,677 276,387 InterContinental Hotels Group plc (a) ...... 15,127 1,008,287 10,560,288 Las Vegas Sands Corp. (a) ...... 24,159 1,272,938 Royal Caribbean Cruises, Ltd. (a) ...... 3,891 331,824 Food Products—0.8% Sands China, Ltd. (a) (b) ...... 176,400 742,951 Foshan Haitian Flavouring & Food Co., Ltd. - Class A ...... 42,828 854,933 Yum China Holdings, Inc...... 18,297 1,212,176 Kraft Heinz Co. (The) ...... 23,395 954,048 Yum! Brands, Inc...... 3,560 409,507 Mondelez International, Inc. - Class A ...... 11,862 740,663 7,559,101 Nestle S.A...... 87,673 10,918,388 Post Holdings, Inc. (a) ...... 13,268 1,439,180 Household Durables—0.6% Tate & Lyle plc ...... 28,636 292,675 Berkeley Group Holdings plc ...... 9,658 614,779 WH Group, Ltd...... 768,000 690,437 DR Horton, Inc...... 485 43,829 15,890,324 Garmin, Ltd...... 2,477 358,273 Iida Group Holdings Co., Ltd...... 35,800 921,224 Gas Utilities—0.0% Lennar Corp. - Class A ...... 5,719 568,183 Snam S.p.A. (b) ...... 55,503 321,208 Midea Group Co., Ltd. - Class A ...... 102,600 1,134,546 Tokyo Gas Co., Ltd...... 9,400 176,673 Mohawk Industries, Inc. (a) ...... 6,469 1,243,277 497,881 Newell Brands, Inc...... 41,672 1,144,730 Open House Co., Ltd...... 17,300 813,213 Persimmon plc ...... 17,450 715,319

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-209 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Household Durables—(Continued) Interactive Media & Services—1.1% Sekisui House, Ltd...... 49,000 $ 1,004,617 Alphabet, Inc. - Class A (a) ...... 1,343 $ 3,279,324 Sony Group Corp...... 43,600 4,231,514 Alphabet, Inc. - Class C (a) ...... 2,514 6,300,888 Taylor Wimpey plc ...... 198,980 438,441 Facebook, Inc. - Class A (a) ...... 12,109 4,210,420 13,231,945 Match Group, Inc. (a) ...... 2,474 398,933 NAVER Corp...... 5,331 1,976,837 Household Products—0.3% Snap, Inc. - Class A (a) ...... 4,335 295,387 Energizer Holdings, Inc. (b) ...... 20,485 880,445 Tencent Holdings, Ltd...... 93,000 6,995,380 Kimberly-Clark Corp...... 3,594 480,805 Group, Inc. - Class C (a) (b) ...... 1,841 225,007 Procter & Gamble Co. (The) ...... 22,194 2,994,637 23,682,176 Reckitt Benckiser Group plc ...... 18,061 1,598,420 Unilever Indonesia Tbk PT ...... 516,800 176,954 Internet & Direct Marketing Retail—1.1% 6,131,261 Alibaba Group Holding, Ltd. (a) ...... 104,000 2,946,611 Alibaba Group Holding, Ltd. (ADR) (a) ...... 6,109 1,385,399 Independent Power and Renewable Electricity Producers—0.0% Allegro.eu S.A. (a) ...... 30,422 523,632 Scatec ASA ...... 30,937 819,552 Amazon.com, Inc. (a) ...... 2,376 8,173,820 Booking Holdings, Inc. (a) ...... 785 1,717,651 Industrial Conglomerates—0.6% JD.com, Inc. (ADR) (a) (b) ...... 25,850 2,063,089 Bidvest Group, Ltd. (The) ...... 29,220 389,584 MercadoLibre, Inc. (a) ...... 2,722 4,240,304 Carlisle Cos., Inc...... 5,371 1,027,902 Prosus NV (a) ...... 9,428 922,489 CK Hutchison Holdings, Ltd...... 31,500 245,450 Rakuten Group, Inc...... 26,500 298,974 DCCplc ...... 5,048 413,508 22,271,969 Hitachi, Ltd...... 64,700 3,702,836 Honeywell International, Inc...... 9,345 2,049,826 IT Services—1.4% Jardine Matheson Holdings, Ltd...... 10,500 671,681 Accenture plc - Class A ...... 4,941 1,456,557 Siemens AG ...... 24,120 3,821,812 Adyen NV (a) ...... 609 1,488,349 12,322,599 Capgemini SE (b) ...... 14,763 2,838,791 Computacenter plc ...... 19,416 691,236 Insurance—2.1% EPAM Systems, Inc. (a) ...... 3,503 1,789,893 Ageas SA ...... 32,324 1,792,686 Fiserv, Inc. (a) ...... 524 56,010 AIA Group, Ltd...... 647,600 8,048,813 FleetCor Technologies, Inc. (a) ...... 300 76,818 Alleghany Corp. (a) ...... 1,332 888,537 Fujitsu, Ltd...... 8,100 1,517,163 Allianz SE ...... 20,268 5,053,543 Global Payments, Inc...... 2,604 488,354 Allstate Corp. (The) ...... 1,345 175,442 Infosys, Ltd. (ADR) (b) ...... 177,216 3,755,207 American International Group, Inc...... 17,123 815,055 International Business Machines Corp...... 4,938 723,862 AXA S.A...... 21,120 535,053 MasterCard, Inc. - Class A ...... 7,781 2,840,765 Chubb, Ltd...... 9,656 1,534,725 MongoDB, Inc. (a) (b) ...... 756 273,309 CNA Financial Corp...... 9,433 429,107 NEC Corp...... 10,700 550,655 Fairfax Financial Holdings, Ltd...... 2,267 992,742 Nihon Unisys, Ltd...... 18,500 556,455 Hartford Financial Services Group, Inc. (The) ...... 30,634 1,898,389 Nomura Research Institute, Ltd...... 19,400 641,999 HDFC Life Insurance Co., Ltd...... 118,591 1,098,680 Otsuka Corp...... 17,100 896,992 Legal & General Group plc ...... 426,416 1,517,735 Loews Corp...... 47,281 2,583,907 PayPal Holdings, Inc. (a) ...... 6,825 1,989,351 Marsh & McLennan Cos., Inc...... 8,822 1,241,079 Snowflake, Inc. - Class A (a) ...... 505 122,109 MS&AD Insurance Group Holdings, Inc...... 24,100 695,711 Sopra Steria Group ...... 4,310 829,303 Muenchener Rueckversicherungs-Gesellschaft AG ...... 8,154 2,233,760 Tata Consultancy Services, Ltd...... 77,565 3,500,308 NN Group NV ...... 21,037 991,531 Visa, Inc. - A Shares ...... 7,001 1,636,974 Ping An Insurance Group Co. of China, Ltd. - Class H ...... 284,000 2,772,674 28,720,460 Progressive Corp. (The) ...... 19,655 1,930,318 Prudential Financial, Inc...... 2,031 208,117 Life Sciences Tools & Services—0.3% Prudential plc ...... 45,809 869,173 Illumina, Inc. (a) ...... 738 349,229 Swiss Re AG ...... 5,005 451,086 Lonza Group AG ...... 2,522 1,787,827 T&D Holdings, Inc...... 38,800 504,143 Mettler-Toledo International, Inc. (a) ...... 249 344,950 Tokio Marine Holdings, Inc...... 24,200 1,108,998 Thermo Fisher Scientific, Inc...... 3,384 1,707,126 Travelers Cos., Inc. (The) ...... 18,169 2,720,081 Waters Corp. (a) ...... 240 82,946 Zurich Insurance Group AG ...... 4,654 1,866,009 Wuxi Biologics Cayman, Inc. (a) ...... 125,500 2,300,264 44,957,094 6,572,342 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-210 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Machinery—1.0% Multi-Utilities—0.2% Alstom S.A. (a) ...... 16,162 $ 816,674 CenterPoint Energy, Inc...... 4,104 $ 100,630 Amada Co., Ltd...... 41,500 418,171 Public Service Enterprise Group, Inc...... 2,081 124,319 Andritz AG ...... 15,060 846,225 RWEAG...... 62,381 2,260,636 Atlas Copco AB - A Shares ...... 19,838 1,215,317 Sempra Energy ...... 3,924 519,852 Bucher Industries AG ...... 936 489,641 Veolia Environnement S.A...... 53,504 1,616,549 Deere & Co...... 4,942 1,743,093 4,621,986 Dover Corp...... 13,681 2,060,359 Ingersoll Rand, Inc. (a) ...... 12,008 586,110 ITT, Inc...... 12,132 1,111,170 Multiline Retail—0.3% Kone Oyj - Class B ...... 5,112 417,076 Dollar General Corp...... 4,539 982,194 Kubota Corp...... 58,700 1,186,785 Dollar Tree, Inc. (a) ...... 2,431 241,885 Nabtesco Corp. (b) ...... 12,100 457,520 Kohl’s Corp...... 12,155 669,862 Otis Worldwide Corp...... 3,331 272,376 Lojas Renner S.A...... 96,693 859,852 Parker-Hannifin Corp...... 1,772 544,199 Next plc (a) ...... 11,963 1,301,961 SKF AB - B Shares ...... 100,327 2,555,864 Ryohin Keikaku Co., Ltd...... 26,000 542,973 SMC Corp...... 400 236,264 Target Corp...... 2,149 519,499 Stanley Black & Decker, Inc...... 9,621 1,972,209 Wesfarmers, Ltd...... 34,431 1,525,369 Techtronic Industries Co., Ltd...... 112,000 1,960,135 6,643,595 Valmet Oyj ...... 18,521 808,121 Volvo AB - B Shares (b) ...... 44,822 1,078,884 Oil, Gas & Consumable Fuels—1.2% 20,776,193 BPplc ...... 586,034 2,561,263 Cabot Oil & Gas Corp. (b) ...... 50,817 887,265 Marine—0.2% Cheniere Energy, Inc. (a) ...... 2,097 181,894 AP Moller - Maersk A/S - Class B ...... 637 1,831,885 Chevron Corp...... 20,543 2,151,674 Kuehne & Nagel International AG ...... 5,111 1,749,406 ConocoPhillips ...... 47,012 2,863,031 SITC International Holdings Co., Ltd...... 208,000 869,350 Diamondback Energy, Inc...... 9,132 857,403 4,450,641 ENEOS Holdings, Inc...... 28,400 118,885 EOG Resources, Inc...... 4,087 341,019 Media—0.4% Equitrans Midstream Corp...... 23,055 196,198 Altice USA, Inc. - Class A (a) ...... 3,635 124,099 Iwatani Corp...... 12,600 755,090 Charter Communications, Inc. - Class A (a) ...... 1,140 822,453 Kinder Morgan, Inc...... 82,868 1,510,684 Comcast Corp. - Class A ...... 21,012 1,198,104 Lundin Energy AB ...... 18,303 649,411 Dentsu Group, Inc. (b) ...... 41,300 1,476,969 Marathon Petroleum Corp...... 13,322 804,915 Discovery, Inc. - Class C (a) ...... 16,493 477,967 Neste Oyj ...... 10,328 632,791 DISH Network Corp. - Class A (a) ...... 21,276 889,337 Phillips 66 ...... 16,255 1,395,004 Fox Corp. - Class A ...... 814 30,224 Pioneer Natural Resources Co...... 3,590 583,447 Liberty Broadband Corp. - Class C (a) ...... 9,209 1,599,235 Royal Dutch Shell plc - A Shares ...... 49,282 990,345 Liberty Media Corp. - Class C (a) ...... 24,185 1,121,942 Royal Dutch Shell plc - B Shares ...... 118,995 2,312,124 Nexstar Media Group, Inc. - Class A ...... 6,209 918,187 TotalEnergies SE ...... 86,955 3,944,918 Publicis Groupe S.A...... 11,080 709,042 Williams Cos., Inc. (The) ...... 62,047 1,647,348 9,367,559 25,384,709

Metals & Mining—0.8% Personal Products—0.5% Anglo American plc ...... 28,768 1,146,373 Coty, Inc. - Class A (a) (b) ...... 35,203 328,796 ArcelorMittal S.A...... 8,892 272,967 Estee Lauder Cos., Inc. (The) - Class A ...... 2,877 915,116 Bekaert S.A...... 13,814 615,673 Kao Corp. (b) ...... 15,600 959,611 BHP Group, Ltd...... 140,647 5,101,684 L’Oreal S.A...... 6,939 3,094,180 Fortescue Metals Group, Ltd...... 62,104 1,086,913 LG Household & Health Care, Ltd...... 697 1,090,657 Freeport-McMoRan, Inc...... 13,277 492,709 Unilever plc ...... 33,990 1,988,040 Newcrest Mining, Ltd...... 9,312 177,075 Unilever plc (Amsterdam Traded Shares) ...... 32,863 1,923,448 Nippon Steel Corp...... 28,400 478,336 10,299,848 Rio Tinto plc ...... 44,718 3,681,491 Rio Tinto, Ltd...... 21,728 2,063,793 Pharmaceuticals—2.2% Sumitomo Metal Mining Co., Ltd...... 20,600 801,880 Yamato Kogyo Co., Ltd...... 24,800 822,163 AstraZeneca plc ...... 33,940 4,072,739 Bayer AG ...... 9,726 590,774 16,741,057 Bristol-Myers Squibb Co...... 56,585 3,781,010 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-211 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Pharmaceuticals—(Continued) Road & Rail—(Continued) Catalent, Inc. (a) ...... 2,999 $ 324,252 Nippon Express Co., Ltd...... 8,600 $ 654,691 Daiichi Sankyo Co., Ltd...... 7,600 163,740 Norfolk Southern Corp...... 2,645 702,009 Eli Lilly and Co...... 5,002 1,148,059 Old Dominion Freight Line, Inc...... 1,341 340,346 GlaxoSmithKline plc ...... 119,530 2,348,127 Uber Technologies, Inc. (a) ...... 5,414 271,350 Jazz Pharmaceuticals plc (a) ...... 1,466 260,420 Union Pacific Corp...... 2,059 452,836 Johnson & Johnson ...... 19,921 3,281,785 West Japan Railway Co...... 2,400 136,784 Kyowa Kirin Co., Ltd. (b) ...... 47,100 1,662,910 4,767,289 Merck & Co., Inc...... 19,855 1,544,123 Merck KGaA ...... 3,141 602,977 Semiconductors & Semiconductor Equipment—2.1% Novartis AG ...... 54,330 4,951,897 Advanced Micro Devices, Inc. (a) ...... 13,510 1,268,994 Novo Nordisk A/S - Class B ...... 73,574 6,155,350 Advantest Corp...... 1,900 170,358 Ono Pharmaceutical Co., Ltd...... 23,400 519,399 Analog Devices, Inc...... 15,147 2,607,708 Organon & Co. (a) ...... 11,712 354,405 Applied Materials, Inc...... 7,350 1,046,640 Otsuka Holdings Co., Ltd...... 4,300 178,264 ASM International NV ...... 5,936 1,951,768 Pfizer, Inc...... 16,221 635,214 ASML Holding NV ...... 13,828 9,520,598 Roche Holding AG ...... 24,800 9,346,391 BE Semiconductor Industries NV ...... 7,900 670,760 Royalty Pharma plc - Class A ...... 5,619 230,323 Cree, Inc. (a) (b) ...... 2,321 227,296 Sanofi ...... 24,635 2,581,395 Entegris, Inc...... 3,658 449,824 Shionogi & Co., Ltd...... 8,200 427,345 Infineon Technologies AG ...... 44,059 1,766,804 Takeda Pharmaceutical Co., Ltd...... 17,500 587,738 Intel Corp...... 7,218 405,219 Viatris, Inc...... 43,898 627,302 Lam Research Corp...... 2,756 1,793,329 46,375,939 Microchip Technology, Inc...... 3,238 484,858 Micron Technology, Inc. (a) ...... 1,551 131,804 Professional Services—0.5% NVIDIA Corp...... 3,511 2,809,151 Adecco Group AG ...... 25,221 1,714,259 NXP Semiconductors NV ...... 3,139 645,755 Booz Allen Hamilton Holding Corp...... 5,840 497,451 QUALCOMM, Inc...... 5,118 731,516 DKSH Holding AG ...... 6,580 503,555 Renesas Electronics Corp. (a) ...... 13,100 141,728 IHS Markit, Ltd...... 2,707 304,971 Rohm Co., Ltd...... 5,600 518,056 Intertek Group plc ...... 3,783 289,545 SolarEdge Technologies, Inc. (a) ...... 1,536 424,504 Leidos Holdings, Inc...... 11,967 1,209,864 Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) ...... 89,630 10,769,941 Meitec Corp...... 5,300 286,624 Teradyne, Inc...... 2,019 270,465 Randstad NV ...... 26,494 2,027,719 Texas Instruments, Inc...... 14,698 2,826,425 Recruit Holdings Co., Ltd...... 25,500 1,254,751 Tokyo Electron, Ltd...... 6,800 2,927,684 RELX plc ...... 51,895 1,378,670 44,561,185 SGS S.A...... 335 1,033,455 Wolters Kluwer NV ...... 6,087 611,790 Software—0.9% 11,112,654 Confluent, Inc. - Class A (a) ...... 2,670 126,825 Crowdstrike Holdings, Inc. - Class A (a) ...... 1,373 345,049 Real Estate Management & Development—0.3% Five9, Inc. (a) ...... 1,449 265,732 CBRE Group, Inc. - Class A (a) ...... 15,269 1,309,012 Fortinet, Inc. (a) ...... 495 117,904 CK Asset Holdings, Ltd...... 40,500 279,587 HubSpot, Inc. (a) ...... 675 393,336 Daiwa House Industry Co., Ltd...... 15,900 477,139 Intuit, Inc...... 2,293 1,123,960 Mitsui Fudosan Co., Ltd...... 26,800 620,461 Microsoft Corp...... 43,610 11,813,949 Nomura Real Estate Holdings, Inc...... 40,600 1,029,624 Oracle Corp...... 6,379 496,541 Sun Hung Kai Properties, Ltd...... 15,500 230,974 Salesforce.com, Inc. (a) ...... 2,988 729,879 Tokyo Tatemono Co., Ltd. (b) ...... 54,300 773,925 SAPSE...... 15,958 2,251,633 Tokyu Fudosan Holdings Corp...... 136,200 818,655 ServiceNow, Inc. (a) ...... 640 351,712 Vonovia SE ...... 9,923 642,126 Synopsys, Inc. (a) ...... 1,222 337,015 6,181,503 UiPath, Inc. - Class A (a) (b) ...... 1,402 95,238 Workday, Inc. - Class A (a) ...... 1,056 252,109 Road & Rail—0.2% Zscaler, Inc. (a) ...... 1,196 258,408 Aurizon Holdings, Ltd...... 67,720 189,047 18,959,290 Central Japan Railway Co...... 5,300 803,591 East Japan Railway Co...... 14,500 1,039,187 Specialty Retail—1.0% Lyft, Inc. - Class A (a) ...... 2,934 177,448 AutoZone, Inc. (a) ...... 1,763 2,630,784

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-212 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Specialty Retail—(Continued) Tobacco—(Continued) Best Buy Co., Inc...... 13,891 $ 1,597,187 Swedish Match AB ...... 210,157 $ 1,792,479 CarMax, Inc. (a) ...... 2,420 312,543 6,440,420 Chow Tai Fook Jewellery Group, Ltd...... 642,200 1,467,343 Dunelm Group plc ...... 34,385 675,356 Trading Companies & Distributors—0.5% Fast Retailing Co., Ltd...... 1,200 902,875 Ashtead Group plc ...... 33,270 2,471,164 Gap, Inc. (The) ...... 36,332 1,222,572 Brenntag SE ...... 4,725 439,425 Home Depot, Inc. (The) ...... 6,361 2,028,459 Ferguson plc ...... 25,176 3,504,472 Industria de Diseno Textil S.A ...... 33,617 1,184,556 ITOCHU Corp...... 73,300 2,106,988 JB Hi-Fi, Ltd...... 19,068 723,480 Mitsubishi Corp...... 50,100 1,364,694 K’s Holdings Corp...... 20,600 236,740 Toyota Tsusho Corp...... 17,800 839,649 Lowe’s Cos., Inc...... 11,172 2,167,033 Murphy USA, Inc...... 9,734 1,298,224 10,726,392 National Vision Holdings, Inc. (a) ...... 3,460 176,910 Nitori Holdings Co., Ltd...... 4,500 796,592 Wireless Telecommunication Services—0.2% O’Reilly Automotive, Inc. (a) ...... 1,136 643,215 KDDI Corp...... 30,300 944,731 Pets at Home Group plc ...... 45,459 286,996 SoftBank Group Corp...... 20,700 1,449,627 Premier Investments, Ltd...... 12,334 264,018 T-Mobile U.S., Inc. (a) ...... 16,667 2,413,881 Shimamura Co., Ltd...... 4,200 402,923 4,808,239 Super Retail Group, Ltd...... 64,313 622,857 TJX Cos., Inc. (The) ...... 7,410 499,582 Total Common Stocks Tractor Supply Co. (b) ...... 1,985 369,329 (Cost $620,678,384) ...... 826,142,073 20,509,574 Convertible Bonds—17.7% Technology Hardware, Storage & Peripherals—0.8% Apple, Inc...... 77,238 10,578,517 Aerospace/Defense—1.0% Logitech International S.A...... 8,259 1,000,953 MTU Aero Engines AG Samsung Electronics Co., Ltd. (GDR) ...... 2,786 4,968,831 0.125%, 05/17/23 (EUR) ...... 5,700,000 11,327,708 Seagate Technology Holdings plc ...... 6,087 535,230 Safran S.A. Wacom Co., Ltd...... 96,500 610,972 0.875%, 05/15/27 (EUR) ...... 5,450,059 9,057,970 17,694,503 20,385,678

Textiles, Apparel & Luxury Goods—0.7% Airlines—0.9% Adidas AG ...... 4,842 1,803,010 Southwest Airlines Co. Carter’s, Inc. (b) ...... 2,596 267,829 1.250%, 05/01/25 ...... 13,180,000 19,959,463 Cie Financiere Richemont S.A. - Class A ...... 3,153 381,741 Columbia Sportswear Co...... 7,232 711,340 Apparel—1.6% Dr. Martens plc (a) ...... 43,815 269,672 adidas AG Kering S.A...... 1,340 1,172,595 0.050%, 09/12/23 (EUR) ...... 11,800,000 17,410,061 LVMH Moet Hennessy Louis Vuitton SE ...... 8,159 6,406,177 Kering S.A. NIKE, Inc. - Class B ...... 11,364 1,755,624 Zero Coupon, 09/30/22 (EUR) ...... 11,800,000 16,045,435 Ralph Lauren Corp...... 7,719 909,375 33,455,496 Yue Yuen Industrial Holdings, Ltd. (a) ...... 645,500 1,594,566 15,271,929 Banks—1.3% Barclays Bank plc Thrifts & Mortgage Finance—0.2% Zero Coupon, 02/04/25 ...... 8,440,000 12,129,462 Housing Development Finance Corp., Ltd...... 108,484 3,623,042 Zero Coupon, 02/18/25 (b) ...... 9,000,000 10,283,850 BofA Finance LLC Tobacco—0.3% 0.250%, 05/01/23 ...... 4,566,000 4,842,243 Altria Group, Inc...... 12,632 602,294 27,255,555 British American Tobacco plc ...... 23,590 919,590 ITC, Ltd...... 286,011 780,302 Beverages—0.6% Philip Morris International, Inc...... 19,584 1,940,970 Remy Cointreau S.A. Scandinavian Tobacco Group A/S - Class A ...... 19,799 404,785 0.125%, 09/07/26 (EUR) ...... 5,725,000 11,899,488 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-213 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Convertible Bonds—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Biotechnology—0.3% Internet—2.0% Illumina, Inc. Booking Holdings, Inc. Zero Coupon, 08/15/23 (b) ...... 4,797,000 $ 6,038,224 0.750%, 05/01/25 (b) ...... 12,520,000 $ 17,703,280 0.900%, 09/15/21 ...... 7,306,000 7,934,316 Building Materials—1.2% Palo Alto Networks, Inc. Sika AG 0.750%, 07/01/23 ...... 10,820,000 15,770,150 0.150%, 06/05/25 (CHF) ...... 11,540,000 19,978,138 41,407,746 3.750%, 01/30/22 (CHF) ...... 1,800,000 4,466,490 24,444,628 Investment Companies—0.3% Ares Capital Corp. Chemicals—0.4% 3.750%, 02/01/22 ...... 5,280,000 5,517,600 Symrise AG 0.238%, 06/20/24 (EUR) ...... 6,200,000 9,530,754 Mining—0.1% Glencore Funding LLC Commercial Services—1.4% Zero Coupon, 03/27/25 ...... 3,200,000 3,114,560 Amadeus IT Group S.A. 1.500%, 04/09/25 (EUR) ...... 11,100,000 17,806,371 Oil & Gas—0.4% Edenred Pioneer Natural Resources Co. Zero Coupon, 09/06/24 (EUR) ...... 5,775,000 4,346,122 0.250%, 05/15/25 ...... 5,305,000 8,464,128 Euronet Worldwide, Inc. 0.750%, 03/15/49 (b) ...... 5,641,000 6,423,689 Real Estate—0.5% 28,576,182 LEG Immobilien AG 0.875%, 09/01/25 (EUR) ...... 4,600,000 6,821,302 Computers—0.7% TAG Immobilien AG Atos SE 0.625%, 09/01/22 (EUR) ...... 2,100,000 3,822,714 Zero Coupon, 11/06/24 (EUR) ...... 10,000,000 14,883,654 10,644,016

Diversified Financial Services—0.2% Retail—0.6% SBI Holdings, Inc. Zalando SE Zero Coupon, 09/13/23 (JPY) ...... 540,000,000 5,000,450 0.050%, 08/06/25 (EUR) ...... 7,900,000 12,351,794

Electric—0.2% Semiconductors—0.8% Iberdrola International B.V. STMicroelectronics NV Zero Coupon, 11/11/22 (EUR) ...... 3,600,000 5,222,456 Zero Coupon, 08/04/25 ...... 8,400,000 10,061,856 0.250%, 07/03/24 ...... 3,600,000 6,345,540 Electronics—0.4% 16,407,396 Fortive Corp. 0.875%, 02/15/22 ...... 7,965,000 7,984,913 Software—0.2% Akamai Technologies, Inc. Engineering & Construction—1.4% 0.375%, 09/01/27 ...... 4,250,000 4,917,250 Cellnex Telecom S.A. 1.500%, 01/16/26 (EUR) ...... 8,200,000 17,925,601 Total Convertible Bonds Vinci S.A. (Cost $310,508,177) ...... 371,481,033 0.375%, 02/16/22 ...... 10,000,000 11,189,100 29,114,701 Corporate Bonds & Notes—12.3%

Healthcare-Services—0.3% Aerospace/Defense—0.3% Anthem, Inc. BAE Systems plc 2.750%, 10/15/42 ...... 1,232,000 6,649,966 1.900%, 02/15/31 (144A) ...... 200,000 192,747 3.400%, 04/15/30 (144A) ...... 595,000 646,708 Home Furnishings—0.9% Boeing Co. (The) Sony Group Corp. 1.167%, 02/04/23 ...... 80,000 80,332 Zero Coupon, 09/30/22 (JPY) ...... 932,000,000 18,254,935 1.433%, 02/04/24 ...... 155,000 155,410 1.950%, 02/01/24 ...... 145,000 148,475 2.196%, 02/04/26 ...... 655,000 661,261

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-214 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Aerospace/Defense—(Continued) Airlines—0.3% Boeing Co. (The) Air Canada Pass-Through Trust 2.750%, 02/01/26 ...... 145,000 $ 151,461 3.300%, 01/15/30 (144A) ...... 280,784 $ 284,066 3.100%, 05/01/26 ...... 80,000 84,573 3.550%, 01/15/30 (144A) ...... 610,400 593,963 3.250%, 03/01/28 ...... 100,000 104,923 3.750%, 12/15/27 (144A) ...... 455,336 472,900 3.250%, 02/01/35 ...... 468,000 473,206 American Airlines Pass-Through Trust 3.600%, 05/01/34 ...... 175,000 184,396 3.200%, 06/15/28 ...... 314,800 320,953 3.625%, 02/01/31 ...... 240,000 258,127 3.600%, 09/22/27 ...... 152,634 157,884 3.950%, 08/01/59 ...... 155,000 162,166 3.700%, 10/01/26 ...... 390,571 396,939 4.508%, 05/01/23 ...... 405,000 431,768 British Airways Pass-Through Trust 4.875%, 05/01/25 ...... 100,000 112,047 3.300%, 12/15/32 (144A) ...... 318,422 323,906 5.150%, 05/01/30 ...... 150,000 177,623 4.125%, 09/20/31 (144A) ...... 500,822 509,205 5.705%, 05/01/40 ...... 150,000 193,182 Continental Airlines Pass-Through Trust L3Harris Technologies, Inc. 4.000%, 10/29/24 ...... 527,225 557,505 1.800%, 01/15/31 ...... 100,000 96,969 4.150%, 04/11/24 ...... 351,625 373,512 4.400%, 06/15/28 ...... 128,000 148,589 Delta Air Lines Pass-Through Trust 4.854%, 04/27/35 ...... 50,000 62,624 3.204%, 10/25/25 ...... 367,000 387,997 Lockheed Martin Corp. 3.625%, 07/30/27 ...... 98,935 106,234 2.800%, 06/15/50 (b) ...... 90,000 90,371 United Airlines Pass-Through Trust 3.800%, 03/01/45 ...... 40,000 46,543 2.700%, 05/01/32 ...... 201,832 202,282 4.070%, 12/15/42 ...... 105,000 127,487 3.450%, 12/01/27 ...... 379,118 400,424 Northrop Grumman Corp. 3.700%, 03/01/30 ...... 61,842 62,984 3.250%, 01/15/28 ...... 525,000 573,429 4.150%, 08/25/31 ...... 189,581 207,352 Raytheon Technologies Corp. 5,358,106 3.750%, 11/01/46 ...... 131,000 147,670 4.125%, 11/16/28 ...... 855,000 983,729 Auto Manufacturers—0.2% 4.150%, 05/15/45 ...... 113,000 134,439 General Motors Co. 4.350%, 04/15/47 ...... 140,000 172,076 4.875%, 10/02/23 (b) ...... 165,000 179,757 6,802,331 5.000%, 04/01/35 ...... 194,000 234,327 5.150%, 04/01/38 ...... 150,000 182,908 Agriculture—0.3% 6.125%, 10/01/25 ...... 85,000 100,623 Altria Group, Inc. General Motors Financial Co., Inc. 2.450%, 02/04/32 ...... 170,000 164,404 1.250%, 01/08/26 ...... 209,000 207,607 3.400%, 02/04/41 ...... 280,000 266,964 2.350%, 01/08/31 ...... 140,000 138,138 3.875%, 09/16/46 ...... 327,000 324,724 2.700%, 06/10/31 ...... 85,000 85,306 4.800%, 02/14/29 (b) ...... 353,000 409,262 2.750%, 06/20/25 ...... 58,000 61,068 BAT Capital Corp. 3.950%, 04/13/24 ...... 46,000 49,487 2.259%, 03/25/28 ...... 95,000 94,287 4.350%, 01/17/27 ...... 51,000 57,339 3.215%, 09/06/26 ...... 45,000 47,741 5.250%, 03/01/26 ...... 40,000 46,187 3.222%, 08/15/24 ...... 200,000 212,432 Hyundai Capital America 3.734%, 09/25/40 ...... 65,000 63,512 1.150%, 11/10/22 (144A) ...... 401,000 403,670 3.984%, 09/25/50 ...... 95,000 92,524 1.250%, 09/18/23 (144A) ...... 420,000 423,834 4.390%, 08/15/37 ...... 834,000 899,287 1.300%, 01/08/26 (144A) ...... 50,000 49,412 4.700%, 04/02/27 ...... 430,000 485,901 1.500%, 06/15/26 (144A) ...... 195,000 193,472 4.906%, 04/02/30 ...... 145,000 166,581 1.800%, 10/15/25 (144A) ...... 220,000 223,218 BAT International Finance plc 1.800%, 01/10/28 (144A) (b) ...... 100,000 99,105 1.668%, 03/25/26 (b) ...... 70,000 69,961 2.375%, 02/10/23 (144A) ...... 350,000 359,258 Bunge, Ltd. Finance Corp. 2.375%, 10/15/27 (144A) ...... 295,000 301,592 1.630%, 08/17/25 ...... 470,000 475,536 2.850%, 11/01/22 (144A) ...... 400,000 411,288 2.750%, 05/14/31 ...... 160,000 161,755 Nissan Motor Co., Ltd. Imperial Brands Finance plc 3.522%, 09/17/25 (144A) ...... 220,000 234,922 3.125%, 07/26/24 (144A) ...... 1,021,000 1,074,735 4.345%, 09/17/27 (144A) ...... 445,000 489,160 Philip Morris International, Inc. Volkswagen Group of America Finance LLC 3.875%, 08/21/42 ...... 334,000 369,499 4.250%, 11/13/23 (144A) ...... 265,000 286,401 5,379,105 4,818,079

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-215 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—3.2% Banks—(Continued) ABN AMRO Bank NV Citigroup, Inc. 1.542%, 1Y H15 + 0.800%, 06/16/27 (144A) (c) ...... 200,000 $ 198,652 3.887%, 3M LIBOR + 1.563%, 01/10/28 (c) ...... 1,470,000 $ 1,636,030 AIB Group plc 3.980%, 3M LIBOR + 1.338%, 03/20/30 (c) ...... 100,000 113,265 4.263%, 3M LIBOR + 1.874%, 04/10/25 (144A) (c) ..... 315,000 339,351 4.000%, 5Y H15 + 3.597%, 12/10/25 (c) ...... 287,000 296,686 4.750%, 10/12/23 (144A) ...... 250,000 271,551 4.300%, 11/20/26 ...... 308,000 347,688 Australia & New Zealand Banking Group, Ltd. 4.400%, 06/10/25 ...... 120,000 134,018 4.400%, 05/19/26 (144A) ...... 295,000 332,450 5.300%, 05/06/44 ...... 100,000 134,656 Banco Bilbao Vizcaya Argentaria S.A. 6.250%, 3M LIBOR + 4.517%, 08/15/26 (c) ...... 330,000 385,595 1.125%, 09/18/25 ...... 400,000 396,495 6.300%, 3M LIBOR + 3.423%, 05/15/24 (c) ...... 66,000 70,996 Banco Santander S.A. Cooperative Rabobank UA 2.706%, 06/27/24 ...... 600,000 631,360 3.750%, 07/21/26 ...... 955,000 1,051,653 2.746%, 05/28/25 ...... 200,000 210,760 Credit Agricole S.A. 3.306%, 06/27/29 ...... 200,000 217,624 1.247%, SOFR + 0.892%, 01/26/27 (144A) (c) ...... 535,000 526,725 3.490%, 05/28/30 ...... 200,000 215,962 1.907%, SOFR + 1.676%, 06/16/26 (144A) (c) ...... 325,000 331,351 Bank of America Corp. 8.125%, 5Y USD Swap + 6.185%, 12/23/25 (144A) (c) . . 330,000 400,950 1.197%, SOFR + 1.010%, 10/24/26 (c) ...... 310,000 307,030 Credit Suisse Group AG 1.734%, SOFR + 0.960%, 07/22/27 (c) ...... 380,000 382,923 1.305%, SOFR + 0.980%, 02/02/27 (144A) (c) ...... 250,000 244,863 1.898%, SOFR + 1.530%, 07/23/31 (c) ...... 330,000 320,842 3.091%, SOFR + 1.730%, 05/14/32 (144A) (c) ...... 570,000 587,243 1.922%, SOFR + 1.370%, 10/24/31 (c) ...... 420,000 409,313 4.194%, SOFR + 3.730%, 04/01/31 (144A) (c) ...... 345,000 387,721 2.496%, 3M LIBOR + 0.990%, 02/13/31 (c) ...... 260,000 265,458 4.207%, 3M LIBOR + 1.240%, 06/12/24 (144A) (c) ..... 1,985,000 2,114,139 2.651%, SOFR + 1.220%, 03/11/32 (c) ...... 640,000 657,248 4.282%, 01/09/28 (144A) ...... 730,000 812,042 2.676%, SOFR + 1.930%, 06/19/41 (c) ...... 755,000 732,727 Danske Bank A/S 2.687%, SOFR + 1.320%, 04/22/32 (c) ...... 1,085,000 1,116,242 1.171%, 1Y H15 + 1.030%, 12/08/23 (144A) (c) ...... 275,000 276,380 2.884%, 3M LIBOR + 1.190%, 10/22/30 (c) ...... 270,000 284,415 1.621%, 1Y H15 + 1.350%, 09/11/26 (144A) (c) ...... 245,000 245,229 3.093%, 3M LIBOR + 1.090%, 10/01/25 (c) ...... 200,000 213,054 3.244%, 3M LIBOR + 1.591%, 12/20/25 (144A) (c) ..... 210,000 223,502 3.248%, 10/21/27 ...... 365,000 395,930 5.000%, 1Y H15 + 1.730%, 01/12/23 (144A) (c) ...... 925,000 945,231 3.705%, 3M LIBOR + 1.512%, 04/24/28 (c) ...... 1,892,000 2,092,139 Deutsche Bank AG 3.824%, 3M LIBOR + 1.575%, 01/20/28 (c) ...... 300,000 332,888 1.686%, 03/19/26 ...... 390,000 393,700 4.183%, 11/25/27 ...... 560,000 627,423 2.129%, SOFR + 1.870%, 11/24/26 (c) ...... 150,000 152,206 4.244%, 3M LIBOR + 1.814%, 04/24/38 (c) ...... 270,000 320,814 2.222%, SOFR + 2.159%, 09/18/24 (c) ...... 365,000 374,863 4.450%, 03/03/26 ...... 167,000 189,678 3.035%, SOFR + 1.718%, 05/28/32 (c) ...... 280,000 284,717 Bank of Montreal Goldman Sachs Group, Inc. (The) 3.803%, 5Y USD Swap + 1.432%, 12/15/32 (c) ...... 100,000 110,249 1.431%, SOFR + 0.798%, 03/09/27 (c) ...... 1,010,000 1,007,153 Bank of Nova Scotia (The) 1.542%, SOFR + 0.818%, 09/10/27 (c) ...... 1,115,000 1,111,862 4.500%, 12/16/25 ...... 30,000 33,982 2.615%, SOFR + 1.281%, 04/22/32 (c) ...... 170,000 173,666 Barclays plc 3.272%, 3M LIBOR + 1.201%, 09/29/25 (b) (c) ...... 350,000 374,424 1.007%, 1Y H15 + 0.800%, 12/10/24 (c) ...... 200,000 200,713 3.500%, 11/16/26 ...... 1,489,000 1,619,141 3.932%, 3M LIBOR + 1.610%, 05/07/25 (c) ...... 670,000 723,267 3.800%, 5Y H15 + 2.969%, 05/10/26 (c) ...... 263,000 267,681 BNP Paribas S.A. 3.814%, 3M LIBOR + 1.158%, 04/23/29 (c) ...... 350,000 391,435 2.219%, SOFR + 2.074%, 06/09/26 (144A) (c) ...... 340,000 350,406 4.017%, 3M LIBOR + 1.373%, 10/31/38 (c) ...... 545,000 639,076 2.588%, 5Y H15 + 2.050%, 08/12/35 (144A) (c) ...... 200,000 195,383 4.223%, 3M LIBOR + 1.301%, 05/01/29 (c) ...... 260,000 296,529 2.871%, SOFR + 1.387%, 04/19/32 (144A) (c) ...... 220,000 225,934 4.411%, 3M LIBOR + 1.430%, 04/23/39 (c) ...... 140,000 170,455 3.052%, SOFR + 1.507%, 01/13/31 (144A) (c) ...... 270,000 284,664 HSBC Holdings plc BPCE S.A. 0.976%, SOFR + 0.708%, 05/24/25 (c) ...... 255,000 254,786 2.375%, 01/14/25 (144A) ...... 400,000 416,495 1.645%, SOFR + 1.538%, 04/18/26 (c) ...... 1,130,000 1,145,151 2.700%, 10/01/29 (144A) ...... 685,000 714,951 2.013%, SOFR + 1.732%, 09/22/28 (c) ...... 975,000 978,322 Citigroup, Inc. 2.357%, SOFR + 1.947%, 08/18/31 (c) ...... 440,000 440,300 0.981%, SOFR + 0.669%, 05/01/25 (b) (c) ...... 300,000 300,714 2.633%, SOFR + 1.402%, 11/07/25 (c) ...... 945,000 991,809 1.122%, SOFR + 0.765%, 01/28/27 (c) ...... 144,000 141,961 2.804%, SOFR + 1.187%, 05/24/32 (c) ...... 200,000 205,250 1.462%, SOFR + 0.770%, 06/09/27 (c) ...... 590,000 587,460 4.292%, 3M LIBOR + 1.348%, 09/12/26 (c) ...... 250,000 278,221 2.561%, SOFR + 1.167%, 05/01/32 (c) ...... 455,000 463,168 6.375%, 5Y USD ICE Swap + 4.368%, 03/30/25 (c) ..... 200,000 222,960 2.572%, SOFR + 2.107%, 06/03/31 (b) (c) ...... 560,000 575,692 6.500%, 09/15/37 ...... 100,000 139,103 3.106%, SOFR + 2.842%, 04/08/26 (c) ...... 310,000 331,760 Intesa Sanpaolo S.p.A. 3.520%, 3M LIBOR + 1.151%, 10/27/28 (c) ...... 322,000 352,618 4.700%, 09/23/49 (144A) † ...... 210,000 244,783 3.668%, 3M LIBOR + 1.390%, 07/24/28 (c) ...... 200,000 220,576 KeyBank N.A. 3.875%, 5Y H15 + 3.417%, 02/18/26 (c) ...... 180,000 183,825 3.400%, 05/20/26 ...... 255,000 277,843 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-216 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Banks—(Continued) Lloyds Banking Group plc Sumitomo Mitsui Financial Group, Inc. 1.627%, 1Y H15 + 0.850%, 05/11/27 (c) ...... 440,000 $ 440,227 2.348%, 01/15/25 (b) ...... 310,000 $ 323,792 4.375%, 03/22/28 ...... 283,000 325,010 3.446%, 01/11/27 ...... 200,000 219,896 Macquarie Group, Ltd. SVB Financial Group 1.340%, SOFR + 1.069%, 01/12/27 (144A) (c) ...... 60,000 59,496 4.000%, 5Y H15 + 3.202%, 05/15/26 (c) ...... 230,000 234,094 2.691%, SOFR + 1.440%, 06/23/32 (c) ...... 265,000 265,693 UBS Group AG 3.763%, 3M LIBOR + 1.372%, 11/28/28 (144A) (c) ..... 526,000 574,840 1.364%, 1Y H15 + 1.080%, 01/30/27 (144A) (c) ...... 310,000 307,830 Mitsubishi UFJ Financial Group, Inc. 3.126%, 3M LIBOR + 1.468%, 08/13/30 (144A) (c) ..... 295,000 316,157 2.193%, 02/25/25 ...... 1,180,000 1,228,065 4.125%, 09/24/25 (144A) ...... 200,000 223,126 3.751%, 07/18/39 ...... 250,000 284,687 UniCredit S.p.A. Mizuho Financial Group, Inc. 1.982%, 1Y H15 + 1.200%, 06/03/27 (144A) (c) ...... 400,000 398,504 1.234%, 1Y H15 + 0.670%, 05/22/27 (c) ...... 670,000 660,164 3.127%, 1Y H15 + 1.550%, 06/03/32 (144A) (c) ...... 200,000 200,440 2.869%, SOFR + 1.572%, 09/13/30 (c) ...... 200,000 209,953 5.861%, 5Y USD ICE Swap + 3.703%, 06/19/32 Morgan Stanley (144A) (c) ...... 530,000 585,221 1.593%, SOFR + 0.879%, 05/04/27 (c) ...... 500,000 503,538 Wells Fargo & Co. 1.794%, SOFR + 1.034%, 02/13/32 (c) ...... 750,000 720,609 2.393%, SOFR + 2.100%, 06/02/28 (c) ...... 150,000 155,564 2.720%, SOFR + 1.152%, 07/22/25 (c) ...... 1,200,000 1,262,132 2.406%, SOFR + 1.087%, 10/30/25 (c) ...... 830,000 868,405 2.802%, SOFR + 1.430%, 01/25/52 (c) ...... 235,000 230,394 3.068%, SOFR + 2.530%, 04/30/41 (c) ...... 335,000 343,604 3.591%, 3M LIBOR + 1.340%, 07/22/28 (c) ...... 709,000 785,396 3.196%, 3M LIBOR + 1.170%, 06/17/27 (c) ...... 1,100,000 1,187,146 3.622%, SOFR + 3.120%, 04/01/31 (c) ...... 280,000 312,551 3.584%, 3M LIBOR + 1.310%, 05/22/28 (c) ...... 535,000 589,404 3.875%, 01/27/26 ...... 150,000 167,699 3.900%, 5Y H15 + 3.453%, 03/15/26 (c) ...... 745,000 771,299 3.971%, 3M LIBOR + 1.455%, 07/22/38 (c) ...... 382,000 448,615 4.400%, 06/14/46 ...... 345,000 415,867 4.300%, 01/27/45 ...... 70,000 86,510 4.750%, 12/07/46 ...... 125,000 158,180 National Australia Bank, Ltd. Westpac Banking Corp. 3.933%, 5Y H15 + 1.880%, 08/02/34 (144A) (c) ...... 390,000 422,514 4.322%, 5Y USD ICE Swap + 2.236%, 11/23/31 (c) ..... 100,000 110,971 Natwest Group plc 4.421%, 07/24/39 ...... 90,000 106,477 1.642%, 1Y H15 + 0.900%, 06/14/27 (c) ...... 227,000 226,972 67,644,926 3.754%, 5Y H15 + 2.100%, 11/01/29 (c) ...... 200,000 212,500 4.269%, 3M LIBOR + 1.762%, 03/22/25 (c) ...... 1,666,000 1,807,083 Beverages—0.3% 4.892%, 3M LIBOR + 1.754%, 05/18/29 (c) ...... 200,000 234,222 Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. NatWest Markets plc 4.700%, 02/01/36 ...... 970,000 1,190,523 0.564%, SOFR + 0.530%, 08/12/24 (144A) (c) ...... 235,000 235,811 4.900%, 02/01/46 ...... 200,000 253,150 0.800%, 08/12/24 (144A) ...... 200,000 199,083 Anheuser-Busch InBev Finance, Inc. Nordea Bank Abp 4.700%, 02/01/36 ...... 423,000 516,208 6.625%, 5Y H15 + 4.110%, 03/26/26 (144A) (c) ...... 250,000 286,720 Anheuser-Busch InBev Worldwide, Inc. Northern Trust Corp. 4.350%, 06/01/40 ...... 150,000 178,536 3.375%, 3M LIBOR + 1.131%, 05/08/32 (c) ...... 100,000 108,735 4.375%, 04/15/38 ...... 967,000 1,156,117 Santander UK Group Holdings plc 4.439%, 10/06/48 ...... 120,000 143,627 1.089%, SOFR + 0.787%, 03/15/25 (c) ...... 700,000 702,238 4.500%, 06/01/50 ...... 415,000 505,051 1.673%, SOFR + 0.989%, 06/14/27 (c) ...... 600,000 599,082 4.600%, 04/15/48 ...... 80,000 97,668 2.896%, SOFR + 1.475%, 03/15/32 (c) ...... 260,000 267,900 4.600%, 06/01/60 ...... 70,000 86,168 Societe Generale S.A. Coca-Cola Co. (The) 1.488%, 1Y H15 + 1.100%, 12/14/26 (144A) (c) ...... 465,000 460,776 2.250%, 01/05/32 ...... 205,000 209,878 1.792%, 1Y H15 + 1.000%, 06/09/27 (144A) (c) ...... 370,000 369,101 2.600%, 06/01/50 ...... 225,000 216,788 2.625%, 10/16/24 (144A) ...... 665,000 694,345 3.000%, 03/05/51 ...... 200,000 208,173 2.889%, 1Y H15 + 1.300%, 06/09/32 (144A) (c) ...... 340,000 344,053 Constellation Brands, Inc. 3.000%, 01/22/30 (144A) ...... 279,000 290,602 3.150%, 08/01/29 ...... 270,000 289,548 3.653%, 5Y H15 + 3.000%, 07/08/35 (144A) (c) ...... 205,000 212,708 5.250%, 11/15/48 ...... 25,000 33,428 3.875%, 03/28/24 (144A) ...... 375,000 403,056 Fomento Economico Mexicano S.A.B. de C.V. 4.250%, 04/14/25 (144A) ...... 350,000 380,063 3.500%, 01/16/50 ...... 236,000 248,215 Standard Chartered plc Keurig Dr Pepper, Inc. 1.319%, 1Y H15 + 1.170%, 10/14/23 (144A) (c) ...... 240,000 242,066 3.430%, 06/15/27 ...... 75,000 82,677 1.456%, 1Y H15 + 1.000%, 01/14/27 (144A) (c) ...... 200,000 198,087 4.597%, 05/25/28 ...... 260,000 305,266 2.678%, 1Y H15 + 1.200%, 06/29/32 (144A) (c) ...... 520,000 521,722 PepsiCo, Inc. 2.744%, 3M LIBOR + 1.200%, 09/10/22 (144A) (c) ..... 310,000 311,289 3.600%, 08/13/42 ...... 110,000 127,297 4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (c) ..... 250,000 255,096 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-217 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Beverages—(Continued) Commercial Services—0.2% Pernod Ricard International Finance LLC Ford Foundation (The) 1.625%, 04/01/31 (144A) ...... 360,000 $ 341,342 2.815%, 06/01/70 ...... 55,000 $ 55,184 6,189,660 Global Payments, Inc. 2.650%, 02/15/25 ...... 440,000 463,598 Biotechnology—0.2% 2.900%, 05/15/30 ...... 110,000 114,605 Amgen, Inc. 3.200%, 08/15/29 ...... 265,000 283,646 2.200%, 02/21/27 ...... 100,000 103,831 4.150%, 08/15/49 ...... 125,000 143,333 3.150%, 02/21/40 ...... 345,000 359,491 IHS Markit, Ltd. Biogen, Inc. 4.250%, 05/01/29 ...... 354,000 409,649 2.250%, 05/01/30 ...... 519,000 520,414 4.750%, 08/01/28 ...... 235,000 277,088 3.150%, 05/01/50 ...... 229,000 224,899 Moody’s Corp. Gilead Sciences, Inc. 2.550%, 08/18/60 ...... 130,000 115,198 2.600%, 10/01/40 ...... 460,000 442,836 Pepperdine University 2.800%, 10/01/50 ...... 360,000 346,752 3.301%, 12/01/59 ...... 180,000 179,919 4.000%, 09/01/36 ...... 240,000 277,424 Quanta Services, Inc. Regeneron Pharmaceuticals, Inc. 2.900%, 10/01/30 ...... 180,000 186,628 1.750%, 09/15/30 ...... 690,000 653,784 S&P Global, Inc. 2.800%, 09/15/50 ...... 165,000 150,241 2.300%, 08/15/60 ...... 190,000 162,742 Royalty Pharma plc Triton Container International, Ltd. 1.200%, 09/02/25 (144A) ...... 410,000 406,267 1.150%, 06/07/24 (144A) ...... 360,000 359,288 1.750%, 09/02/27 (144A) ...... 130,000 127,944 Trustees of Boston University 3.550%, 09/02/50 (144A) (b) ...... 110,000 109,411 3.173%, 10/01/50 ...... 210,000 218,575 University of Chicago (The) 3,723,294 2.761%, 04/01/45 ...... 100,000 101,432 University of Southern California Building Materials—0.0% 3.226%, 10/01/2120 ...... 100,000 99,141 Lennox International, Inc. 1.700%, 08/01/27 ...... 160,000 159,971 3,170,026 Martin Marietta Materials, Inc. 3.450%, 06/01/27 ...... 100,000 109,217 Computers—0.2% Masco Corp. Apple, Inc. 2.000%, 10/01/30 ...... 50,000 48,756 2.375%, 02/08/41 ...... 175,000 169,672 6.500%, 08/15/32 ...... 150,000 199,531 2.650%, 05/11/50 ...... 340,000 333,824 2.800%, 02/08/61 ...... 35,000 34,089 517,475 3.450%, 02/09/45 ...... 716,000 799,690 Dell International LLC / EMC Corp. Chemicals—0.1% 4.900%, 10/01/26 ...... 110,000 126,949 Celanese U.S. Holdings LLC 5.300%, 10/01/29 (b) ...... 518,000 625,035 3.500%, 05/08/24 ...... 139,000 148,518 5.450%, 06/15/23 ...... 65,000 70,516 Dow Chemical Co. (The) 6.020%, 06/15/26 ...... 414,000 497,018 2.100%, 11/15/30 ...... 335,000 330,829 Leidos, Inc. DuPont de Nemours, Inc. 2.300%, 02/15/31 ...... 210,000 204,880 5.319%, 11/15/38 ...... 60,000 79,350 2.950%, 05/15/23 ...... 150,000 155,986 Eastman Chemical Co. 4.375%, 05/15/30 ...... 135,000 153,297 4.500%, 12/01/28 ...... 150,000 174,550 Huntsman International LLC 3,170,956 2.950%, 06/15/31 ...... 135,000 136,928 International Flavors & Fragrances, Inc. Diversified Financial Services—0.6% 3.468%, 12/01/50 (144A) ...... 55,000 57,170 AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.450%, 09/26/28 ...... 36,000 41,625 1.750%, 01/30/26 ...... 151,000 149,228 LYB International Finance III LLC 4.450%, 04/03/26 ...... 150,000 164,732 3.625%, 04/01/51 ...... 225,000 237,522 4.500%, 09/15/23 ...... 245,000 262,707 Nutrien, Ltd. Air Lease Corp. 4.200%, 04/01/29 ...... 50,000 57,507 2.875%, 01/15/26 ...... 240,000 252,152 5.000%, 04/01/49 ...... 75,000 98,804 3.000%, 09/15/23 ...... 60,000 62,719 3.250%, 03/01/25 ...... 614,000 654,484 1,362,803 3.250%, 10/01/29 ...... 150,000 156,330 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-218 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Diversified Financial Services—(Continued) Electric—(Continued) Air Lease Corp. AES Corp. (The) 3.375%, 07/01/25 ...... 401,000 $ 430,727 1.375%, 01/15/26 (144A) ...... 200,000 $ 198,038 3.625%, 12/01/27 ...... 119,000 127,817 2.450%, 01/15/31 (144A) ...... 67,000 66,291 Aviation Capital Group LLC 3.300%, 07/15/25 (144A) ...... 400,000 426,840 1.950%, 01/30/26 (144A) ...... 130,000 130,035 3.950%, 07/15/30 (144A) ...... 100,000 109,350 3.875%, 05/01/23 (144A) ...... 100,000 104,771 Alexander Funding Trust 4.125%, 08/01/25 (144A) ...... 80,000 86,398 1.841%, 11/15/23 (144A) ...... 1,030,000 1,048,815 5.500%, 12/15/24 (144A) ...... 110,000 124,336 Alliant Energy Finance LLC Avolon Holdings Funding, Ltd. 1.400%, 03/15/26 (144A) ...... 70,000 68,950 2.125%, 02/21/26 (144A) (b) ...... 70,000 69,710 Ameren Corp. 2.875%, 02/15/25 (144A) ...... 125,000 128,700 1.750%, 03/15/28 ...... 100,000 98,955 3.625%, 05/01/22 (144A) ...... 95,000 97,194 3.500%, 01/15/31 ...... 268,000 293,441 4.250%, 04/15/26 (144A) ...... 245,000 265,501 Ameren Illinois Co. 4.375%, 05/01/26 (144A) ...... 495,000 538,060 4.500%, 03/15/49 ...... 225,000 289,448 5.250%, 05/15/24 (144A) ...... 100,000 109,983 Appalachian Power Co. 5.500%, 01/15/23 (144A) ...... 5,000 5,311 2.700%, 04/01/31 (b) ...... 174,000 179,864 5.500%, 01/15/26 (144A) ...... 185,000 209,839 4.500%, 03/01/49 ...... 35,000 42,773 BOC Aviation, Ltd. Arizona Public Service Co. 2.375%, 09/15/21 (144A) ...... 200,000 200,292 4.700%, 01/15/44 ...... 50,000 62,889 2.750%, 09/18/22 (144A) ...... 220,000 223,930 Ausgrid Finance Pty, Ltd. Brookfield Finance, Inc. 3.850%, 05/01/23 (144A) ...... 150,000 156,636 4.850%, 03/29/29 ...... 137,000 161,313 Baltimore Gas & Electric Co. Capital One Financial Corp. 3.200%, 09/15/49 ...... 210,000 219,688 3.950%, 5Y H15 + 3.157%, 09/01/26 (c) ...... 407,000 415,649 Berkshire Hathaway Energy Co. Charles Schwab Corp. (The) 2.850%, 05/15/51 ...... 105,000 101,585 4.000%, 5Y H15 + 3.168%, 06/01/26 (b) (c) ...... 375,000 390,937 CenterPoint Energy, Inc. 4.000%, 10Y H15 + 3.079%, 12/01/30 (c) ...... 600,000 613,800 2.650%, 06/01/31 ...... 420,000 427,835 GE Capital Funding LLC 2.950%, 03/01/30 ...... 160,000 168,694 4.400%, 05/15/30 ...... 720,000 839,039 Cleveland Electric Illuminating Co. (The) GE Capital International Funding Co. 4.550%, 11/15/30 (144A) ...... 157,000 181,416 3.373%, 11/15/25 ...... 805,000 878,358 CMS Energy Corp. 4.418%, 11/15/35 ...... 1,305,000 1,564,018 4.750%, 5Y H15 + 4.116%, 06/01/50 (c) ...... 235,000 261,878 GTP Acquisition Partners I LLC Commonwealth Edison Co. 3.482%, 06/15/50 (144A) ...... 325,000 345,188 3.700%, 03/01/45 ...... 128,000 146,314 Mitsubishi HC Capital, Inc. Consolidated Edison Co. of New York, Inc. 3.406%, 02/28/22 (144A) ...... 935,000 950,460 4.650%, 12/01/48 ...... 150,000 185,260 3.559%, 02/28/24 (144A) ...... 200,000 213,190 Dominion Energy, Inc. Nomura Holdings, Inc. 4.050%, 09/15/42 ...... 120,000 136,663 1.851%, 07/16/25 ...... 295,000 301,548 Duke Energy Carolinas LLC 2.648%, 01/16/25 ...... 375,000 393,962 2.550%, 04/15/31 ...... 190,000 197,256 Nuveen LLC 3.200%, 08/15/49 ...... 85,000 89,137 4.000%, 11/01/28 (144A) ...... 100,000 115,234 4.000%, 09/30/42 ...... 145,000 170,835 Park Aerospace Holdings, Ltd. Duke Energy Indiana LLC 4.500%, 03/15/23 (144A) ...... 190,000 199,724 2.750%, 04/01/50 ...... 120,000 116,135 5.250%, 08/15/22 (144A) ...... 405,000 423,797 3.750%, 05/15/46 ...... 585,000 655,148 5.500%, 02/15/24 (144A) ...... 377,000 414,437 Duke Energy Ohio, Inc. Visa, Inc. 4.300%, 02/01/49 ...... 21,000 25,937 2.700%, 04/15/40 ...... 105,000 108,542 Duke Energy Progress LLC 12,884,152 2.500%, 08/15/50 ...... 40,000 36,876 3.700%, 10/15/46 ...... 120,000 135,481 Electric—1.2% Duquesne Light Holdings, Inc. AEP Texas, Inc. 3.616%, 08/01/27 (144A) ...... 754,000 817,805 3.950%, 06/01/28 ...... 311,000 350,350 Edison International AEP Transmission Co. LLC 3.550%, 11/15/24 ...... 317,000 336,926 3.150%, 09/15/49 ...... 30,000 31,246 4.125%, 03/15/28 ...... 55,000 58,513 5.750%, 06/15/27 ...... 100,000 113,783 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-219 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—(Continued) Electric—(Continued) EDP Finance B.V. Oklahoma Gas and Electric Co. 1.710%, 01/24/28 (144A) ...... 515,000 $ 510,123 0.553%, 05/26/23 ...... 70,000 $ 70,002 Emera U.S. Finance L.P. Pacific Gas and Electric Co. 2.639%, 06/15/31 (144A) ...... 245,000 246,474 1.367%, 03/10/23 ...... 110,000 110,005 4.750%, 06/15/46 ...... 322,000 382,417 1.531%, 3M LIBOR + 1.375%, 11/15/21 (c) ...... 355,000 355,727 Enel Finance International NV 1.750%, 06/16/22 ...... 655,000 654,639 3.500%, 04/06/28 (144A) ...... 260,000 284,675 2.950%, 03/01/26 ...... 55,000 56,240 3.625%, 05/25/27 (144A) ...... 220,000 241,660 3.450%, 07/01/25 ...... 310,000 324,936 Entergy Arkansas LLC 3.750%, 08/15/42 ...... 37,000 33,662 4.000%, 06/01/28 ...... 160,000 181,793 4.000%, 12/01/46 ...... 305,000 285,457 4.950%, 12/15/44 ...... 59,000 64,549 4.300%, 03/15/45 ...... 60,000 57,576 Entergy Corp. 4.550%, 07/01/30 ...... 30,000 32,087 2.400%, 06/15/31 ...... 220,000 219,607 4.600%, 06/15/43 ...... 125,000 123,875 Entergy Louisiana LLC PacifiCorp. 2.350%, 06/15/32 ...... 220,000 222,596 2.700%, 09/15/30 (b) ...... 95,000 99,771 2.900%, 03/15/51 ...... 60,000 59,097 3.300%, 03/15/51 ...... 97,000 102,733 4.950%, 01/15/45 ...... 260,000 285,070 4.125%, 01/15/49 ...... 285,000 340,822 Entergy Mississippi LLC PECO Energy Co. 3.500%, 06/01/51 ...... 40,000 43,738 4.800%, 10/15/43 ...... 105,000 134,785 3.850%, 06/01/49 ...... 120,000 137,938 Pennsylvania Electric Co. Entergy Texas, Inc. 3.600%, 06/01/29 (144A) ...... 500,000 534,236 3.550%, 09/30/49 ...... 265,000 281,562 PPL Capital Funding, Inc. 4.000%, 03/30/29 ...... 303,000 341,955 2.812%, 3M LIBOR + 2.665%, 03/30/67 (c) ...... 442,000 434,265 Evergy Kansas Central, Inc. Public Service Co. of Colorado 3.250%, 09/01/49 ...... 205,000 216,548 4.300%, 03/15/44 ...... 185,000 226,420 Evergy Metro, Inc. Public Service Co. of Oklahoma 2.250%, 06/01/30 ...... 160,000 162,759 6.625%, 11/15/37 ...... 100,000 142,630 Evergy, Inc. Public Service Electric and Gas Co. 2.900%, 09/15/29 ...... 198,000 209,824 2.700%, 05/01/50 ...... 190,000 188,010 Fortis, Inc. Puget Energy Inc. 3.055%, 10/04/26 ...... 272,000 291,672 2.379%, 06/15/28 (144A) ...... 140,000 141,432 ITC Holdings Corp. San Diego Gas & Electric Co. 2.950%, 05/14/30 (144A) ...... 955,000 1,005,104 4.300%, 04/01/42 ...... 160,000 189,356 Jersey Central Power & Light Co. Southern California Edison Co. 2.750%, 03/01/32 (144A) ...... 202,000 205,048 3.600%, 02/01/45 ...... 111,000 110,203 6.150%, 06/01/37 ...... 100,000 129,288 3.650%, 03/01/28 ...... 324,000 356,171 Louisville Gas & Electric Co. 3.700%, 08/01/25 ...... 410,000 446,571 4.650%, 11/15/43 ...... 197,000 245,531 3.900%, 03/15/43 ...... 23,000 24,014 Metropolitan Edison Co. 4.050%, 03/15/42 ...... 150,000 161,022 4.000%, 04/15/25 (144A) ...... 20,000 21,178 4.125%, 03/01/48 ...... 195,000 207,809 Mid-Atlantic Interstate Transmission LLC 4.500%, 09/01/40 ...... 130,000 149,026 4.100%, 05/15/28 (144A) ...... 40,000 45,015 Southern Power Co. Monongahela Power Co. 0.900%, 01/15/26 ...... 72,000 70,649 3.550%, 05/15/27 (144A) (b) ...... 325,000 358,267 5.150%, 09/15/41 ...... 125,000 152,443 Narragansett Electric Co. (The) Southwestern Electric Power Co. 3.395%, 04/09/30 (144A) ...... 200,000 218,835 1.650%, 03/15/26 (b) ...... 340,000 344,086 NextEra Energy Capital Holdings, Inc. 3.900%, 04/01/45 ...... 272,000 299,068 2.244%, 3M LIBOR + 2.125%, 06/15/67 (c) ...... 223,000 207,809 Tucson Electric Power Co. 3.500%, 04/01/29 ...... 134,000 147,992 4.000%, 06/15/50 ...... 171,000 199,624 NRG Energy, Inc. 4.850%, 12/01/48 ...... 150,000 192,910 2.000%, 12/02/25 (144A) ...... 90,000 91,294 Union Electric Co. 2.450%, 12/02/27 (144A) ...... 100,000 100,643 2.150%, 03/15/32 ...... 235,000 235,587 3.750%, 06/15/24 (144A) ...... 387,000 412,242 2.950%, 06/15/27 ...... 161,000 174,043 4.450%, 06/15/29 (144A) ...... 100,000 110,378 Vistra Operations Co. LLC OGE Energy Corp. 3.550%, 07/15/24 (144A) ...... 170,000 179,498 0.703%, 05/26/23 ...... 60,000 60,016 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-220 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—(Continued) Healthcare-Products—0.0% Vistra Operations Co. LLC Boston Scientific Corp. 3.700%, 01/30/27 (144A) ...... 195,000 $ 208,340 4.000%, 03/01/29 ...... 255,000 $ 290,020 4.300%, 07/15/29 (144A) ...... 405,000 440,202 Zimmer Biomet Holdings, Inc. 24,339,680 4.450%, 08/15/45 ...... 55,000 64,896 354,916 Electronics—0.0% Arrow Electronics, Inc. Healthcare-Services—0.3% 3.875%, 01/12/28 ...... 123,000 137,724 Aetna, Inc. 3.875%, 08/15/47 ...... 236,000 263,933 Food—0.1% 4.125%, 11/15/42 ...... 195,000 223,199 Campbell Soup Co. Anthem, Inc. 3.125%, 04/24/50 (b) ...... 28,000 27,219 2.875%, 09/15/29 ...... 160,000 169,612 Conagra Brands, Inc. 4.101%, 03/01/28 ...... 140,000 160,007 5.400%, 11/01/48 ...... 65,000 87,256 Children’s Hospital Grupo Bimbo S.A.B. de C.V. 2.928%, 07/15/50 ...... 100,000 99,317 4.000%, 09/06/49 (144A) ...... 210,000 223,610 CommonSpirit Health Kraft Heinz Foods Co. 1.547%, 10/01/25 ...... 65,000 65,556 4.250%, 03/01/31 ...... 320,000 363,516 2.782%, 10/01/30 ...... 70,000 72,639 4.625%, 10/01/39 ...... 170,000 197,993 3.910%, 10/01/50 ...... 65,000 71,443 Kroger Co. (The) Cottage Health Obligated Group 3.875%, 10/15/46 ...... 391,000 430,750 3.304%, 11/01/49 ...... 230,000 248,330 3.950%, 01/15/50 (b) ...... 120,000 136,550 Hartford HealthCare Corp. 4.450%, 02/01/47 ...... 70,000 83,329 3.447%, 07/01/54 ...... 240,000 251,960 Smithfield Foods, Inc. HCA, Inc. 3.000%, 10/15/30 (144A) ...... 200,000 201,645 3.500%, 07/15/51 ...... 215,000 214,902 5.200%, 04/01/29 (144A) ...... 150,000 174,614 4.500%, 02/15/27 ...... 908,000 1,026,108 Sysco Corp. 5.125%, 06/15/39 ...... 110,000 137,404 3.300%, 02/15/50 ...... 574,000 576,916 5.250%, 04/15/25 ...... 350,000 400,424 2,503,398 5.250%, 06/15/26 ...... 260,000 300,966 5.375%, 09/01/26 ...... 265,000 304,949 Gas—0.1% 5.500%, 06/15/47 ...... 30,000 39,073 APT Pipelines, Ltd. 5.625%, 09/01/28 ...... 260,000 308,100 4.200%, 03/23/25 (144A) ...... 100,000 109,663 Memorial Health Services 4.250%, 07/15/27 (144A) ...... 70,000 79,052 3.447%, 11/01/49 (b) ...... 210,000 227,403 Atmos Energy Corp. MidMichigan Health 4.125%, 03/15/49 ...... 145,000 175,151 3.409%, 06/01/50 ...... 40,000 42,963 Boston Gas Co. New York and Presbyterian Hospital (The) 3.001%, 08/01/29 (144A) ...... 120,000 126,290 2.256%, 08/01/40 ...... 230,000 216,355 Brooklyn Union Gas Co. (The) NYU Langone Hospitals 3.865%, 03/04/29 (144A) ...... 170,000 187,881 3.380%, 07/01/55 (b) ...... 90,000 95,331 NiSource, Inc. Quest Diagnostics, Inc. 0.950%, 08/15/25 ...... 360,000 357,006 2.800%, 06/30/31 ...... 80,000 83,506 1.700%, 02/15/31 ...... 100,000 94,493 UnitedHealth Group, Inc. 2.950%, 09/01/29 ...... 180,000 190,664 2.300%, 05/15/31 ...... 150,000 153,613 ONE Gas, Inc. 2.750%, 05/15/40 ...... 663,000 671,424 0.850%, 03/11/23 ...... 420,000 420,205 3.050%, 05/15/41 ...... 100,000 104,733 4.500%, 11/01/48 ...... 142,000 170,974 3.250%, 05/15/51 ...... 140,000 149,347 Southern California Gas Co. 3.500%, 08/15/39 ...... 238,000 265,987 Universal Health Services, Inc. 4.450%, 03/15/44 ...... 50,000 60,243 Southern Co. Gas Capital Corp. 2.650%, 10/15/30 (144A) ...... 575,000 578,180 1.750%, 01/15/31 (b) ...... 186,000 175,930 Yale-New Haven Health Services Corp. 2.496%, 07/01/50 ...... 110,000 101,042 2,147,552 7,047,806

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-221 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Holding Companies-Diversified—0.1% Insurance—(Continued) CK Hutchison International 19, Ltd. New York Life Global Funding 3.250%, 04/11/24 (144A) ...... 475,000 $ 505,494 3.000%, 01/10/28 (144A) ...... 125,000 $ 135,862 3.625%, 04/11/29 (144A) (b) ...... 205,000 227,011 New York Life Insurance Co. CVS Pass-Through Trust 3.750%, 05/15/50 (144A) ...... 90,000 100,501 4.704%, 01/10/36 (144A) ...... 269,418 305,309 4.450%, 05/15/69 (144A) ...... 140,000 175,079 Hutchison Whampoa International 14, Ltd. Northwestern Mutual Global Funding 3.625%, 10/31/24 (144A) ...... 200,000 217,828 1.700%, 06/01/28 (144A) ...... 85,000 85,081 1,255,642 Northwestern Mutual Life Insurance Co. (The) 3.850%, 09/30/47 (144A) ...... 220,000 251,510 Home Builders—0.1% Pacific Life Insurance Co. Lennar Corp. 4.300%, 3M LIBOR + 2.796%, 10/24/67 (144A) (c) ..... 97,000 111,450 4.500%, 04/30/24 ...... 45,000 49,219 Progressive Corp. (The) 4.750%, 11/29/27 ...... 440,000 508,582 5.375%, 3M LIBOR + 2.539%, 03/15/23 (c) ...... 90,000 94,364 5.000%, 06/15/27 ...... 255,000 295,910 Prudential Financial, Inc. MDC Holdings, Inc. 3.905%, 12/07/47 ...... 65,000 75,496 2.500%, 01/15/31 ...... 220,000 214,311 Prudential Insurance Co. of America (The) 3.850%, 01/15/30 ...... 526,000 563,083 8.300%, 07/01/25 (144A) ...... 250,000 314,101 PulteGroup, Inc. Swiss Re Finance Luxembourg S.A. 5.000%, 01/15/27 (b) ...... 353,000 412,826 5.000%, 5Y H15 + 3.582%, 04/02/49 (144A) (c) ...... 400,000 454,900 5.500%, 03/01/26 ...... 72,000 84,060 Teachers Insurance & Annuity Association of America 4.270%, 05/15/47 (144A) ...... 100,000 119,553 2,127,991 5,021,644 Insurance—0.2% AIA Group, Ltd. Internet—0.1% 3.900%, 04/06/28 (144A) (b) ...... 210,000 235,551 Alphabet, Inc. American Financial Group, Inc. 1.900%, 08/15/40 ...... 250,000 227,274 3.500%, 08/15/26 ...... 70,000 76,015 Amazon.com, Inc. American International Group, Inc. 2.700%, 06/03/60 ...... 260,000 249,028 3.875%, 01/15/35 ...... 223,000 252,192 3.875%, 08/22/37 ...... 280,000 333,886 4.800%, 07/10/45 ...... 170,000 212,450 VeriSign, Inc. Athene Global Funding 2.700%, 06/15/31 ...... 250,000 253,982 0.950%, 01/08/24 (144A) (b) ...... 75,000 75,060 1,064,170 1.450%, 01/08/26 (144A) ...... 65,000 65,044 2.950%, 11/12/26 (144A) ...... 370,000 393,916 Iron/Steel—0.0% Berkshire Hathaway Finance Corp. Steel Dynamics, Inc. 2.850%, 10/15/50 ...... 260,000 259,532 3.450%, 04/15/30 ...... 154,000 167,529 4.400%, 05/15/42 ...... 200,000 251,090 Vale Overseas, Ltd. Equitable Financial Life Global Funding 3.750%, 07/08/30 (b) ...... 512,000 545,126 1.400%, 07/07/25 (144A) ...... 270,000 272,270 712,655 F&G Global Funding 1.750%, 06/30/26 (144A) ...... 80,000 80,329 Machinery-Diversified—0.0% Guardian Life Insurance Co. of America (The) Otis Worldwide Corp. 3.700%, 01/22/70 (144A) ...... 85,000 87,886 2.565%, 02/15/30 ...... 235,000 243,377 4.875%, 06/19/64 (144A) ...... 150,000 191,571 Hanover Insurance Group, Inc. (The) Media—0.4% 2.500%, 09/01/30 ...... 70,000 70,026 Charter Communications Operating LLC / Charter Communications Operating Capital Corp. Hartford Financial Services Group, Inc. (The) 2.300%, 02/01/32 ...... 285,000 274,005 4.300%, 04/15/43 ...... 25,000 29,497 2.800%, 04/01/31 ...... 300,000 306,693 6.100%, 10/01/41 ...... 25,000 35,702 3.500%, 06/01/41 ...... 190,000 191,286 Intact U.S. Holdings, Inc. 3.700%, 04/01/51 ...... 60,000 59,344 4.600%, 11/09/22 ...... 150,000 157,225 3.900%, 06/01/52 ...... 105,000 106,912 Massachusetts Mutual Life Insurance Co. 4.800%, 03/01/50 ...... 240,000 275,652 5.077%, 3M LIBOR + 3.191%, 02/15/69 (c) ...... 195,000 240,724 6.384%, 10/23/35 ...... 330,000 441,100 Nationwide Mutual Insurance Co. 4.350%, 04/30/50 (144A) ...... 105,000 117,667 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-222 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Media—(Continued) Miscellaneous Manufacturing—(Continued) Comcast Corp. Siemens Financieringsmaatschappij NV 1.950%, 01/15/31 ...... 90,000 $ 88,724 4.400%, 05/27/45 (144A) ...... 250,000 $ 319,268 2.450%, 08/15/52 (b) ...... 635,000 573,649 539,393 3.200%, 07/15/36 ...... 552,000 592,230 3.250%, 11/01/39 ...... 570,000 606,273 Oil & Gas—0.5% 3.400%, 07/15/46 ...... 220,000 234,682 BP Capital Markets America, Inc. 3.450%, 02/01/50 ...... 190,000 205,026 2.772%, 11/10/50 ...... 100,000 92,606 3.750%, 04/01/40 ...... 25,000 28,182 2.939%, 06/04/51 ...... 270,000 258,492 4.600%, 10/15/38 ...... 50,000 61,970 3.000%, 02/24/50 ...... 115,000 111,091 4.950%, 10/15/58 ...... 55,000 76,055 3.017%, 01/16/27 ...... 596,000 643,142 COX Communications, Inc. BP Capital Markets plc 2.950%, 10/01/50 (144A) ...... 110,000 104,200 4.375%, 5Y H15 + 4.036%, 06/22/25 (c) ...... 56,000 59,640 3.350%, 09/15/26 (144A) ...... 350,000 380,067 4.875%, 5Y H15 + 4.398%, 03/22/30 (b) (c) ...... 296,000 325,008 Discovery Communications LLC Chevron Corp. 4.950%, 05/15/42 ...... 250,000 297,792 2.978%, 05/11/40 ...... 110,000 115,189 5.200%, 09/20/47 ...... 305,000 379,051 Chevron USA, Inc. Time Warner Cable LLC 3.250%, 10/15/29 ...... 203,000 224,783 4.500%, 09/15/42 ...... 667,000 741,402 3.850%, 01/15/28 ...... 1,070,000 1,218,666 6.550%, 05/01/37 ...... 50,000 68,112 6.000%, 03/01/41 ...... 160,000 234,065 6.750%, 06/15/39 ...... 265,000 368,911 Cimarex Energy Co. ViacomCBS, Inc. 3.900%, 05/15/27 ...... 130,000 143,291 4.375%, 03/15/43 ...... 213,000 246,453 ConocoPhillips 4.600%, 01/15/45 ...... 100,000 118,640 2.400%, 02/15/31 (144A) (b) ...... 65,000 66,530 5.850%, 09/01/43 ...... 50,000 68,506 3.750%, 10/01/27 (144A) ...... 260,000 292,149 6.250%, 3M LIBOR + 3.899%, 02/28/57 (c) ...... 135,000 154,586 4.300%, 08/15/28 (144A) ...... 255,000 296,023 Walt Disney Co. (The) Diamondback Energy, Inc. 2.750%, 09/01/49 ...... 165,000 162,847 3.250%, 12/01/26 ...... 80,000 85,752 3.500%, 05/13/40 ...... 255,000 284,300 3.500%, 12/01/29 (b) ...... 37,000 39,610 7,496,650 4.750%, 05/31/25 ...... 386,000 434,615 Eni S.p.A. Metal Fabricate/Hardware—0.0% 4.250%, 05/09/29 (144A) ...... 235,000 267,333 Precision Castparts Corp. 4.750%, 09/12/28 (144A) ...... 305,000 357,133 4.200%, 06/15/35 ...... 60,000 71,170 Eni USA, Inc. 7.300%, 11/15/27 ...... 100,000 130,459 Mining—0.1% Equinor ASA Anglo American Capital plc 2.375%, 05/22/30 ...... 90,000 92,795 2.625%, 09/10/30 (144A) ...... 200,000 200,756 Exxon Mobil Corp. 2.875%, 03/17/31 (144A) ...... 200,000 204,454 2.610%, 10/15/30 ...... 405,000 426,866 Glencore Finance Canada, Ltd. 2.995%, 08/16/39 ...... 355,000 364,245 5.550%, 10/25/42 (144A) ...... 130,000 167,881 3.095%, 08/16/49 ...... 370,000 376,562 Glencore Funding LLC Hess Corp. 1.625%, 09/01/25 (144A) ...... 380,000 384,320 5.600%, 02/15/41 ...... 130,000 162,276 2.500%, 09/01/30 (144A) ...... 384,000 383,062 HollyFrontier Corp. 4.000%, 03/27/27 (144A) ...... 205,000 227,212 2.625%, 10/01/23 ...... 120,000 124,077 4.125%, 05/30/23 (144A) ...... 61,000 64,882 5.875%, 04/01/26 ...... 56,000 64,780 Teck Resources, Ltd. Lundin Energy Finance B.V. 5.200%, 03/01/42 ...... 100,000 117,651 2.000%, 07/15/26 (144A) ...... 210,000 210,336 5.400%, 02/01/43 ...... 219,000 266,828 3.100%, 07/15/31 (144A) ...... 640,000 646,487 Marathon Petroleum Corp. 2,017,046 4.500%, 05/01/23 ...... 210,000 223,955 Miscellaneous Manufacturing—0.0% 4.700%, 05/01/25 ...... 23,000 25,939 Eaton Corp. 4.750%, 09/15/44 ...... 79,000 93,341 5.800%, 03/15/37 ...... 100,000 126,687 Phillips 66 General Electric Co. 2.150%, 12/15/30 ...... 300,000 294,920 3.450%, 05/01/27 ...... 85,000 93,438 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-223 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—(Continued) Pharmaceuticals—(Continued) Pioneer Natural Resources Co. Bayer U.S. Finance LLC 1.900%, 08/15/30 (b) ...... 370,000 $ 356,474 4.375%, 12/15/28 (144A) ...... 245,000 $ 280,686 Shell International Finance B.V. Becton Dickinson and Co. 3.250%, 04/06/50 (b) ...... 260,000 276,504 1.957%, 02/11/31 ...... 160,000 156,111 3.750%, 09/12/46 ...... 201,000 227,198 Bristol-Myers Squibb Co. Suncor Energy, Inc. 2.350%, 11/13/40 ...... 240,000 231,130 3.100%, 05/15/25 ...... 410,000 438,073 2.550%, 11/13/50 ...... 440,000 420,737 5.350%, 07/15/33 ...... 150,000 185,988 3.400%, 07/26/29 ...... 535,000 599,568 Total Capital International S.A. 3.450%, 11/15/27 ...... 150,000 167,307 2.986%, 06/29/41 ...... 430,000 437,900 4.125%, 06/15/39 ...... 105,000 126,714 3.127%, 05/29/50 ...... 278,000 281,802 5.000%, 08/15/45 ...... 152,000 207,749 3.461%, 07/12/49 ...... 137,000 148,424 Cigna Corp. Valero Energy Corp. 2.400%, 03/15/30 ...... 185,000 188,732 1.200%, 03/15/24 ...... 259,000 261,241 4.375%, 10/15/28 ...... 1,157,000 1,345,628 2.150%, 09/15/27 ...... 310,000 314,907 CVS Health Corp. 11,430,667 1.750%, 08/21/30 ...... 220,000 212,049 2.700%, 08/21/40 ...... 840,000 814,226 Oil & Gas Services—0.0% 4.300%, 03/25/28 ...... 360,000 413,606 Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor, Inc. 5.050%, 03/25/48 ...... 175,000 227,303 3.138%, 11/07/29 ...... 170,000 182,844 5.300%, 12/05/43 ...... 200,000 265,276 3.337%, 12/15/27 ...... 252,000 275,357 CVS Pass-Through Trust Baker Hughes Holdings LLC 5.880%, 01/10/28 ...... 311,481 357,972 5.125%, 09/15/40 ...... 25,000 31,916 8.353%, 07/10/31 (144A) ...... 133,554 175,055 Halliburton Co. Eli Lilly and Co. 3.800%, 11/15/25 ...... 6,000 6,632 2.250%, 05/15/50 ...... 450,000 408,061 Schlumberger Holdings Corp. Johnson & Johnson 3.900%, 05/17/28 (144A) ...... 109,000 121,713 2.250%, 09/01/50 ...... 80,000 74,784 3.400%, 01/15/38 ...... 223,000 252,897 618,462 Merck & Co., Inc. 2.350%, 06/24/40 ...... 65,000 62,797 Packaging & Containers—0.0% Novartis Capital Corp. Graphic Packaging International LLC 2.750%, 08/14/50 ...... 115,000 115,633 1.512%, 04/15/26 (144A) ...... 115,000 114,416 Pfizer, Inc. Packaging Corp. of America 2.700%, 05/28/50 ...... 230,000 228,817 4.050%, 12/15/49 ...... 135,000 158,607 Shire Acquisitions Investments Ireland DAC 273,023 3.200%, 09/23/26 ...... 398,000 432,044 Takeda Pharmaceutical Co., Ltd. Pharmaceuticals—0.6% 3.025%, 07/09/40 (b) ...... 630,000 635,943 AbbVie, Inc. 3.175%, 07/09/50 ...... 200,000 202,128 3.200%, 05/14/26 ...... 135,000 146,376 3.375%, 07/09/60 ...... 200,000 205,259 3.200%, 11/21/29 ...... 892,000 968,752 5.000%, 11/26/28 ...... 200,000 240,819 3.600%, 05/14/25 ...... 165,000 180,047 Viatris, Inc. 4.050%, 11/21/39 ...... 400,000 464,570 4.000%, 06/22/50 (144A) ...... 105,000 111,041 4.400%, 11/06/42 ...... 315,000 382,492 Zoetis, Inc. 4.450%, 05/14/46 ...... 430,000 519,277 2.000%, 05/15/30 ...... 140,000 139,353 4.550%, 03/15/35 ...... 60,000 72,823 3.900%, 08/20/28 ...... 210,000 238,762 4.625%, 10/01/42 ...... 220,000 271,313 13,549,790 4.750%, 03/15/45 ...... 60,000 75,225 Astrazeneca Finance LLC Pipelines—0.5% 2.250%, 05/28/31 ...... 110,000 111,579 Boardwalk Pipelines L.P. AstraZeneca plc 4.450%, 07/15/27 ...... 34,000 38,359 1.375%, 08/06/30 (b) ...... 210,000 198,717 4.800%, 05/03/29 ...... 65,000 74,800 2.125%, 08/06/50 ...... 280,000 244,538 Cameron LNG LLC 4.000%, 09/18/42 ...... 253,000 301,151 3.701%, 01/15/39 (144A) ...... 163,000 181,333 6.450%, 09/15/37 ...... 50,000 74,743

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-224 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Pipelines—(Continued) Pipelines—(Continued) Cheniere Corpus Christi Holdings LLC Sabine Pass Liquefaction LLC 3.700%, 11/15/29 ...... 80,000 $ 87,383 4.200%, 03/15/28 ...... 790,000 $ 892,171 5.125%, 06/30/27 ...... 530,000 616,277 4.500%, 05/15/30 ...... 200,000 230,811 Enable Midstream Partners L.P. Southern Natural Gas Co. LLC 4.150%, 09/15/29 ...... 340,000 372,273 4.800%, 03/15/47 (144A) ...... 102,000 125,631 4.400%, 03/15/27 (b) ...... 70,000 77,173 8.000%, 03/01/32 ...... 70,000 99,897 4.950%, 05/15/28 ...... 80,000 91,597 Texas Eastern Transmission L.P. Enbridge, Inc. 3.500%, 01/15/28 (144A) ...... 45,000 48,943 2.500%, 08/01/33 ...... 140,000 140,013 TransCanada PipeLines, Ltd. 3.125%, 11/15/29 ...... 230,000 246,308 4.625%, 03/01/34 ...... 355,000 421,093 Energy Transfer L.P. Transcanada Trust 3.750%, 05/15/30 (b) ...... 90,000 97,766 5.500%, SOFR + 4.416%, 09/15/79 (c) ...... 298,000 324,820 4.200%, 04/15/27 ...... 17,000 18,775 Williams Cos., Inc. (The) 4.750%, 01/15/26 ...... 150,000 168,872 4.900%, 01/15/45 ...... 127,000 153,417 4.950%, 01/15/43 ...... 150,000 165,799 5.400%, 03/04/44 ...... 235,000 296,975 5.150%, 02/01/43 ...... 566,000 638,653 9,889,745 5.250%, 04/15/29 ...... 5,000 5,906 5.500%, 06/01/27 ...... 36,000 42,220 Real Estate—0.0% 5.800%, 06/15/38 ...... 35,000 43,511 Ontario Teachers’ Cadillac Fairview Properties Trust 5.950%, 10/01/43 ...... 90,000 112,282 3.875%, 03/20/27 (144A) ...... 243,000 267,749 6.050%, 06/01/41 ...... 55,000 69,742 6.250%, 04/15/49 ...... 70,000 91,857 Real Estate Investment Trusts—0.6% Enterprise Products Operating LLC Alexandria Real Estate Equities, Inc. 4.250%, 02/15/48 ...... 285,000 326,276 3.800%, 04/15/26 ...... 23,000 25,610 4.950%, 10/15/54 ...... 33,000 40,893 4.000%, 02/01/50 ...... 111,000 127,198 Flex Intermediate Holdco LLC American Campus Communities Operating Partnership L.P. 3.363%, 06/30/31 (144A) ...... 315,000 318,867 3.625%, 11/15/27 ...... 150,000 163,211 4.317%, 12/30/39 (144A) ...... 60,000 61,012 American Tower Corp. Gray Oak Pipeline LLC 1.500%, 01/31/28 ...... 150,000 145,856 2.000%, 09/15/23 (144A) ...... 110,000 112,194 1.875%, 10/15/30 (b) ...... 130,000 125,406 3.450%, 10/15/27 (144A) ...... 220,000 231,227 2.950%, 01/15/51 ...... 39,000 37,235 Kinder Morgan Energy Partners L.P. 3.100%, 06/15/50 ...... 61,000 59,596 5.000%, 08/15/42 ...... 170,000 203,510 3.125%, 01/15/27 ...... 501,000 537,486 Kinder Morgan, Inc. 3.700%, 10/15/49 ...... 210,000 227,920 5.050%, 02/15/46 ...... 80,000 97,144 3.950%, 03/15/29 (b) ...... 636,000 713,517 5.300%, 12/01/34 ...... 305,000 376,726 American Tower Trust MPLX L.P. 3.652%, 03/15/48 (144A) ...... 160,000 175,241 4.500%, 04/15/38 ...... 431,000 494,553 Boston Properties L.P. 5.200%, 03/01/47 ...... 81,000 99,728 2.550%, 04/01/32 ...... 165,000 166,023 5.200%, 12/01/47 ...... 5,000 6,098 4.500%, 12/01/28 ...... 100,000 116,550 Northern Natural Gas Co. Brixmor Operating Partnership L.P. 3.400%, 10/16/51 (144A) ...... 100,000 102,451 2.250%, 04/01/28 ...... 80,000 79,904 ONEOK Partners L.P. 3.850%, 02/01/25 ...... 60,000 65,263 5.000%, 09/15/23 ...... 70,000 75,567 Corporate Office Properties L.P. 6.650%, 10/01/36 ...... 140,000 188,628 2.750%, 04/15/31 ...... 187,000 188,411 Phillips 66 Partners L.P. Crown Castle International Corp. 3.150%, 12/15/29 ...... 40,000 42,013 2.900%, 04/01/41 ...... 270,000 262,636 4.900%, 10/01/46 ...... 80,000 95,347 3.800%, 02/15/28 ...... 745,000 827,755 Plains All American Pipeline L.P. / PAA Finance Corp. 4.450%, 02/15/26 ...... 100,000 112,992 3.550%, 12/15/29 ...... 245,000 257,991 Equinix, Inc. 3.850%, 10/15/23 ...... 113,000 119,771 2.500%, 05/15/31 ...... 350,000 355,960 4.500%, 12/15/26 ...... 160,000 179,755 2.900%, 11/18/26 ...... 135,000 144,408 4.650%, 10/15/25 ...... 225,000 251,726 ERP Operating L.P. 4.700%, 06/15/44 (b) ...... 120,000 127,128 4.150%, 12/01/28 ...... 120,000 137,763 5.150%, 06/01/42 ...... 95,000 106,483

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-225 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate Investment Trusts—(Continued) Retail—(Continued) Essex Portfolio L.P. Alimentation Couche-Tard, Inc. 2.650%, 03/15/32 ...... 120,000 $ 121,746 3.625%, 05/13/51 (144A) ...... 25,000 $ 26,124 2.650%, 09/01/50 ...... 160,000 141,658 3.800%, 01/25/50 (144A) (b) ...... 135,000 144,687 Goodman U.S. Finance Three LLC AutoZone, Inc. 3.700%, 03/15/28 (144A) ...... 680,000 736,918 1.650%, 01/15/31 ...... 100,000 95,133 Healthcare Trust of America Holdings L.P. Home Depot, Inc. (The) 2.000%, 03/15/31 ...... 290,000 280,061 2.375%, 03/15/51 (b) ...... 235,000 217,355 3.100%, 02/15/30 ...... 200,000 212,415 3.300%, 04/15/40 ...... 180,000 197,162 Healthpeak Properties, Inc. Kohl’s Corp. 2.875%, 01/15/31 ...... 200,000 209,249 3.375%, 05/01/31 (b) ...... 162,000 167,713 3.000%, 01/15/30 ...... 445,000 471,512 Lowe’s Cos., Inc. 3.500%, 07/15/29 ...... 118,000 130,297 3.000%, 10/15/50 ...... 105,000 103,522 Life Storage L.P. 3.700%, 04/15/46 ...... 173,000 190,078 4.000%, 06/15/29 ...... 137,000 153,448 McDonald’s Corp. National Retail Properties, Inc. 3.625%, 05/01/43 ...... 257,000 284,493 4.000%, 11/15/25 ...... 100,000 110,472 3.700%, 02/15/42 ...... 120,000 135,125 Office Properties Income Trust 6.300%, 10/15/37 ...... 90,000 128,774 2.650%, 06/15/26 ...... 282,000 286,122 Nordstrom, Inc. 4.000%, 07/15/22 ...... 140,000 144,563 4.250%, 08/01/31 (144A) (b) ...... 121,000 126,021 4.150%, 02/01/22 ...... 280,000 284,339 O’Reilly Automotive, Inc. Prologis L.P. 3.550%, 03/15/26 ...... 60,000 66,134 2.125%, 10/15/50 ...... 150,000 128,029 Starbucks Corp. Realty Income Corp. 2.550%, 11/15/30 ...... 130,000 134,700 3.875%, 04/15/25 ...... 60,000 66,197 3.750%, 12/01/47 ...... 76,000 83,625 Regency Centers L.P. Walmart, Inc. 2.950%, 09/15/29 ...... 730,000 768,738 3.625%, 12/15/47 ...... 205,000 239,538 3.700%, 06/15/30 ...... 160,000 176,992 3.950%, 06/28/38 ...... 120,000 144,537 Scentre Group Trust 1 / Scentre Group Trust 2 3.250%, 10/28/25 (144A) ...... 586,000 628,537 3,091,863 SITE Centers Corp. 4.700%, 06/01/27 ...... 60,000 66,443 Savings & Loans—0.1% UDR, Inc. Nationwide Building Society 3.000%, 08/15/31 ...... 120,000 126,232 4.302%, 3M LIBOR + 1.452%, 03/08/29 (144A) (c) ..... 265,000 299,125 3.500%, 07/01/27 ...... 100,000 110,699 4.363%, 3M LIBOR + 1.392%, 08/01/24 (144A) (c) ..... 780,000 836,673 Ventas Realty L.P. 1,135,798 4.875%, 04/15/49 ...... 88,000 108,583 5.700%, 09/30/43 ...... 220,000 291,551 Semiconductors—0.2% VEREIT Operating Partnership L.P. Analog Devices, Inc. 3.400%, 01/15/28 ...... 295,000 320,819 4.500%, 12/05/36 ...... 113,000 133,150 WEA Finance LLC Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.875%, 01/15/27 (144A) (b) ...... 575,000 593,490 3.875%, 01/15/27 ...... 692,000 764,645 Welltower, Inc. Broadcom, Inc. 2.700%, 02/15/27 ...... 57,000 60,487 1.950%, 02/15/28 (144A) (b) ...... 265,000 264,886 3.100%, 01/15/30 ...... 320,000 340,789 2.450%, 02/15/31 (144A) ...... 612,000 601,409 WP Carey, Inc. 4.150%, 11/15/30 ...... 133,000 149,148 2.250%, 04/01/33 ...... 135,000 129,250 4.250%, 04/15/26 ...... 150,000 168,155 11,995,577 4.750%, 04/15/29 ...... 120,000 139,591 Microchip Technology, Inc. Retail—0.1% 0.972%, 02/15/24 (144A) ...... 435,000 434,786 7-Eleven, Inc. 0.983%, 09/01/24 (144A) ...... 155,000 154,248 1.300%, 02/10/28 (144A) ...... 56,000 54,095 2.670%, 09/01/23 ...... 200,000 208,304 2.500%, 02/10/41 (144A) ...... 146,000 135,931 NXP B.V. / NXP Funding LLC / NXP USA, Inc. 2.800%, 02/10/51 (144A) ...... 170,000 158,589 2.500%, 05/11/31 (144A) ...... 145,000 146,434 Alimentation Couche-Tard, Inc. 3.250%, 05/11/41 (144A) ...... 285,000 293,028 2.950%, 01/25/30 (144A) ...... 80,000 83,008 3.400%, 05/01/30 (144A) ...... 110,000 120,110 3.439%, 05/13/41 (144A) ...... 170,000 175,519 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-226 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Semiconductors—(Continued) Telecommunications—(Continued) Qorvo, Inc. AT&T, Inc. 4.375%, 10/15/29 ...... 145,000 $ 158,009 3.550%, 09/15/55 (144A) ...... 345,000 $ 346,157 TSMC Global, Ltd. 3.650%, 09/15/59 (144A) ...... 295,000 299,159 1.250%, 04/23/26 (144A) ...... 500,000 495,662 4.300%, 12/15/42 ...... 492,000 560,193 2.250%, 04/23/31 (144A) ...... 220,000 221,395 Corning, Inc. Xilinx, Inc. 3.900%, 11/15/49 ...... 252,000 282,270 2.375%, 06/01/30 ...... 180,000 182,972 Crown Castle Towers LLC 4,635,932 3.663%, 05/15/45 (144A) ...... 225,000 240,286 NTT Finance Corp. Software—0.3% 1.162%, 04/03/26 (144A) ...... 380,000 379,126 Activision Blizzard, Inc. Rogers Communications, Inc. 1.350%, 09/15/30 ...... 100,000 93,504 3.700%, 11/15/49 ...... 60,000 63,872 2.500%, 09/15/50 ...... 293,000 263,008 4.350%, 05/01/49 ...... 90,000 105,930 Citrix Systems, Inc. T-Mobile USA, Inc. 1.250%, 03/01/26 ...... 40,000 39,498 2.050%, 02/15/28 ...... 850,000 862,894 Electronic Arts, Inc. 2.250%, 11/15/31 ...... 47,000 46,364 1.850%, 02/15/31 ...... 150,000 144,975 3.000%, 02/15/41 ...... 165,000 162,965 Fidelity National Information Services, Inc. 3.750%, 04/15/27 ...... 815,000 900,575 3.100%, 03/01/41 ...... 70,000 71,706 3.875%, 04/15/30 ...... 158,000 176,616 Fiserv, Inc. 4.375%, 04/15/40 ...... 265,000 310,659 3.500%, 07/01/29 ...... 277,000 304,795 Telefonica Emisiones S.A.U. 4.400%, 07/01/49 ...... 60,000 72,370 4.665%, 03/06/38 (b) ...... 720,000 846,694 Microsoft Corp. 4.895%, 03/06/48 ...... 150,000 179,615 2.675%, 06/01/60 ...... 190,000 188,165 Verizon Communications, Inc. 3.500%, 02/12/35 ...... 735,000 852,901 1.450%, 03/20/26 ...... 170,000 171,446 Oracle Corp. 1.680%, 10/30/30 ...... 220,000 210,068 2.300%, 03/25/28 ...... 70,000 71,820 1.750%, 01/20/31 ...... 135,000 129,376 2.800%, 04/01/27 ...... 335,000 355,246 2.100%, 03/22/28 ...... 410,000 418,575 2.875%, 03/25/31 ...... 515,000 535,640 2.550%, 03/21/31 ...... 90,000 91,991 3.600%, 04/01/40 ...... 420,000 442,998 2.625%, 08/15/26 ...... 50,000 53,129 3.600%, 04/01/50 ...... 245,000 251,579 2.650%, 11/20/40 ...... 479,000 460,950 3.800%, 11/15/37 ...... 366,000 401,373 2.875%, 11/20/50 ...... 205,000 194,733 3.850%, 07/15/36 ...... 408,000 448,532 3.400%, 03/22/41 ...... 285,000 301,485 3.900%, 05/15/35 ...... 222,000 247,219 3.550%, 03/22/51 ...... 160,000 170,939 Roper Technologies, Inc. 4.125%, 03/16/27 ...... 200,000 227,768 1.400%, 09/15/27 ...... 360,000 354,057 4.272%, 01/15/36 ...... 1,383,000 1,645,528 2.000%, 06/30/30 ...... 180,000 177,255 4.329%, 09/21/28 ...... 454,000 528,247 Salesforce.com, Inc. 4.862%, 08/21/46 ...... 42,000 54,339 2.900%, 07/15/51 ...... 240,000 242,339 Vodafone Group plc VMware, Inc. 4.250%, 09/17/50 ...... 360,000 420,482 3.900%, 08/21/27 ...... 211,000 234,493 6.250%, 11/30/32 ...... 160,000 214,656 4.650%, 05/15/27 ...... 86,000 98,700 13,458,729 4.700%, 05/15/30 ...... 142,000 168,017 6,060,190 Toys/Games/Hobbies—0.0% Hasbro, Inc. Telecommunications—0.6% 3.900%, 11/19/29 ...... 149,000 165,670 AT&T, Inc. 1.650%, 02/01/28 ...... 185,000 183,622 Transportation—0.2% Burlington Northern Santa Fe LLC 2.250%, 02/01/32 ...... 1,115,000 1,094,328 2.300%, 06/01/27 ...... 210,000 217,204 3.550%, 02/15/50 ...... 69,000 78,027 2.550%, 12/01/33 (144A) ...... 85,000 84,204 3.900%, 08/01/46 ...... 349,000 409,894 2.750%, 06/01/31 ...... 75,000 77,962 Canadian National Railway Co. 3.100%, 02/01/43 ...... 285,000 279,257 2.450%, 05/01/50 ...... 270,000 242,742 3.500%, 06/01/41 ...... 115,000 119,458 Canadian Pacific Railway Co. 3.500%, 09/15/53 (144A) ...... 344,000 345,607 5.750%, 03/15/33 ...... 120,000 157,476 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-227 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Transportation—(Continued) Agency Sponsored Mortgage - Backed—(Continued) CSX Corp. Fannie Mae Pool 2.500%, 05/15/51 ...... 195,000 $ 177,020 3.570%, 07/01/26 ...... 988,631 $ 1,096,887 3.800%, 11/01/46 ...... 219,000 250,496 3.660%, 03/01/27 ...... 725,659 813,766 4.750%, 11/15/48 ...... 95,000 122,881 3.740%, 02/01/29 ...... 800,000 926,904 6.150%, 05/01/37 ...... 60,000 84,189 3.990%, 02/01/28 ...... 521,323 599,080 FedEx Corp. 4.000%, 06/01/49 ...... 637,761 685,969 3.250%, 05/15/41 ...... 145,000 149,060 4.500%, 11/01/48 ...... 1,038,031 1,128,727 JB Hunt Transport Services, Inc. Fannie Mae REMICS (CMO) 3.875%, 03/01/26 ...... 80,000 88,976 3.500%, 06/25/46 ...... 323,087 332,710 Kansas City Southern 3.500%, 05/25/49 ...... 802,183 850,863 4.700%, 05/01/48 ...... 80,000 99,639 4.000%, 04/25/42 ...... 263,773 287,067 Norfolk Southern Corp. 4.000%, 05/25/43 ...... 311,974 322,509 3.050%, 05/15/50 ...... 495,000 494,788 5.000%, 04/25/37 ...... 41,033 47,341 3.950%, 10/01/42 ...... 230,000 264,249 5.000%, 07/25/39 ...... 250,000 299,100 Union Pacific Corp. 5.000%, 05/25/40 ...... 65,000 79,334 3.550%, 08/15/39 ...... 345,000 383,044 6.000%, 01/25/34 ...... 139,221 159,806 3.600%, 09/15/37 ...... 286,000 319,725 Fannie Mae Whole Loan Trust (CMO) 4.100%, 09/15/67 ...... 70,000 80,923 5.620%, 11/25/33 ...... 300,715 341,704 4.375%, 09/10/38 ...... 50,000 59,865 Fannie Mae-ACES 3,462,994 0.670%, 10/25/30 ...... 241,530 236,801 0.750%, 09/25/28 ...... 481,190 471,401 Total Corporate Bonds & Notes 1.000%, 11/25/33 ...... 2,233,365 2,209,963 (Cost $245,403,410) ...... 258,137,916 1.200%, 10/25/30 ...... 80,000 79,081 2.021%, 10/25/30 (c) (d) ...... 1,411,748 157,009 U.S. Treasury & Government Agencies—4.6% 2.122%, 07/25/30 (c) (d) ...... 2,205,572 286,115 2.124%, 11/25/33 (c) (d) ...... 9,963,408 1,368,012 Agency Sponsored Mortgage - Backed—2.5% Freddie Mac 30 Yr. Gold Pool Fannie Mae 30 Yr. Pool 4.000%, 12/01/47 ...... 245,402 262,132 4.000%, 06/01/46 ...... 697,526 765,027 4.500%, 06/01/47 ...... 632,418 688,441 4.000%, 07/01/47 ...... 810,126 869,511 5.000%, 12/01/48 ...... 187,053 205,894 4.000%, 11/01/47 ...... 374,552 400,999 Freddie Mac 30 Yr. Pool 4.000%, 12/01/47 ...... 355,437 383,244 3.500%, 10/01/49 ...... 329,441 346,530 4.000%, 01/01/48 ...... 569,798 623,518 4.500%, 06/01/48 ...... 325,309 357,700 4.000%, 09/01/48 ...... 352,325 376,351 Freddie Mac Multifamily Structured Pass-Through Certificates 4.500%, 04/01/39 ...... 122,270 134,995 3.600%, 02/25/28 ...... 1,000,000 1,132,591 4.500%, 12/01/40 ...... 188,504 210,190 3.850%, 05/25/28 (c) ...... 585,000 677,049 4.500%, 05/01/48 ...... 298,930 323,380 Freddie Mac REMICS (CMO) 4.500%, 06/01/48 ...... 210,699 229,383 2.500%, 01/15/42 ...... 44,257 44,010 4.500%, 07/01/48 ...... 61,955 66,594 3.000%, 07/25/49 ...... 535,402 560,787 4.500%, 11/01/48 ...... 731,279 792,102 3.500%, 03/15/35 ...... 600,000 672,049 4.500%, 01/01/49 ...... 392,243 429,251 4.000%, 07/15/38 ...... 250,000 268,708 4.500%, 06/01/49 ...... 337,388 367,164 5.000%, 02/15/40 ...... 117,000 144,515 5.000%, 07/01/44 ...... 458,493 528,616 5.000%, 02/15/41 ...... 426,517 496,335 5.000%, 06/01/48 ...... 96,075 105,367 5.500%, 03/15/37 ...... 226,210 264,282 5.000%, 07/01/48 ...... 268,950 298,877 Freddie Mac STACR Trust (CMO) 5.000%, 08/01/48 ...... 336,476 372,925 3.500%, 05/25/57 ...... 585,717 623,551 5.000%, 10/01/48 ...... 631,094 692,211 3.500%, 06/25/57 ...... 557,454 595,461 5.000%, 01/01/49 ...... 434,065 485,843 Ginnie Mae I 30 Yr. Pool Fannie Mae Pool 4.500%, 07/15/39 ...... 342,322 389,354 1.500%, 01/01/31 ...... 500,000 498,283 Ginnie Mae II 30 Yr. Pool 2.130%, 11/01/28 ...... 1,250,000 1,305,261 2.500%, 01/20/51 ...... 537,285 557,506 2.600%, 10/01/31 ...... 350,000 381,629 4.000%, 10/20/49 ...... 593,286 636,875 3.230%, 01/01/30 ...... 473,236 523,790 4.250%, 07/20/47 ...... 796,707 892,785 3.240%, 01/01/22 ...... 495,809 496,932 4.250%, 10/20/48 ...... 1,560,527 1,748,655 3.330%, 04/01/35 ...... 490,346 560,357 4.500%, 02/20/48 ...... 2,782,272 3,035,726 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-228 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—(Continued) U.S. Treasury—(Continued) Ginnie Mae II 30 Yr. Pool U.S. Treasury Notes 4.500%, 05/20/48 ...... 128,191 $ 137,040 1.750%, 02/28/22 ...... 1,175,000 $ 1,188,127 4.500%, 06/20/48 ...... 814,368 907,980 1.750%, 05/15/23 ...... 7,802,000 8,021,431 4.500%, 12/20/48 ...... 447,831 485,336 2.250%, 11/15/25 ...... 210,000 223,420 4.500%, 07/20/49 ...... 645,584 693,806 44,574,079 4.500%, 09/20/49 ...... 1,391,726 1,514,755 5.000%, 07/20/48 ...... 216,413 234,578 Total U.S. Treasury & Government Agencies 5.000%, 12/20/48 ...... 796,317 870,515 (Cost $92,193,214) ...... 95,480,373 5.000%, 03/20/49 ...... 1,053,472 1,172,089 5.000%, 05/20/49 ...... 977,411 1,080,694 Mutual Funds—3.2% Government National Mortgage Association (CMO) 0.703%, 1M LIBOR + 0.610%, 03/20/70 (c) ...... 674,561 687,494 Investment Company Securities—3.2% 2.500%, 05/20/43 ...... 70,605 71,113 iShares J.P. Morgan USD Emerging Markets Bond ETF (b) 3.500%, 04/20/49 ...... 612,342 647,793 (Cost $68,676,053) ...... 601,916 67,691,473 5.500%, 02/20/37 ...... 112,179 125,884 5.500%, 04/16/37 ...... 117,510 131,370 5.500%, 11/16/39 ...... 200,000 248,084 Convertible Preferred Stocks—1.4% 6.000%, 04/17/34 ...... 65,438 73,913 Uniform Mortgage-Backed Securities 15 Yr. Pool Banks—0.2% 2.000%, TBA (e) ...... 140,000 143,998 Bank of America Corp. Uniform Mortgage-Backed Securities 30 Yr. Pool 7.250% ...... 2,791 3,952,056 2.500%, TBA (e) ...... 2,015,000 2,076,967 50,906,294 Diversified Financial Services—0.2% AMG Capital Trust II U.S. Treasury—2.1% 5.150%, 10/15/37 ...... 75,767 4,545,262 U.S. Treasury Bonds 1.125%, 05/15/40 ...... 1,535,000 1,325,137 Healthcare-Products—0.5% 1.250%, 05/15/50 ...... 820,000 669,549 Danaher Corp. 1.375%, 08/15/50 ...... 135,000 113,806 5.000%, 04/15/23 (b) ...... 7,476 11,029,119 1.625%, 11/15/50 ...... 1,530,000 1,374,131 1.875%, 02/15/51 (b) ...... 2,640,000 2,519,550 Machinery—0.5% 2.000%, 02/15/50 ...... 307,000 301,604 Stanley Black & Decker, Inc. 2.250%, 08/15/46 ...... 236,000 244,020 5.250%, 11/15/22 (b) ...... 81,463 9,835,028 2.250%, 08/15/49 ...... 115,000 119,133 Total Convertible Preferred Stocks 2.375%, 11/15/49 ...... 70,000 74,539 (Cost $28,034,359) ...... 29,361,465 2.500%, 02/15/45 ...... 2,810,000 3,040,288 2.750%, 08/15/42 ...... 1,050,000 1,183,178 2.750%, 11/15/42 ...... 2,080,000 2,342,194 Asset-Backed Securities—1.2% 2.875%, 05/15/43 ...... 1,000,000 1,150,078 3.000%, 11/15/44 ...... 79,000 93,004 Asset-Backed - Automobile—0.3% 3.750%, 11/15/43 ...... 952,000 1,249,649 Avis Budget Rental Car Funding AESOP LLC 3.875%, 08/15/40 ...... 65,000 85,457 4.000%, 03/20/25 (144A) ...... 500,000 540,059 4.375%, 02/15/38 ...... 165,000 227,126 Carmax Auto Owner Trust 4.375%, 11/15/39 ...... 320,000 445,162 3.360%, 09/15/23 ...... 96,030 97,331 U.S. Treasury Coupon Strips Credit Acceptance Auto Loan Trust Zero Coupon, 02/15/22 (b) ...... 7,475,000 7,472,270 2.390%, 04/16/29 (144A) ...... 535,000 549,522 Zero Coupon, 11/15/22 (b) ...... 2,525,000 2,519,003 Drive Auto Receivables Trust Zero Coupon, 02/15/32 ...... 2,375,000 1,981,725 3.660%, 11/15/24 ...... 5,702 5,710 U.S. Treasury Notes 3.780%, 04/15/25 ...... 321,817 324,772 0.375%, 09/30/27 (b) ...... 300,000 286,594 3.810%, 05/15/24 ...... 99,299 100,468 0.500%, 02/28/26 (b) ...... 1,625,000 1,600,371 3.990%, 01/15/25 ...... 148,704 150,575 0.625%, 08/15/30 ...... 250,000 232,910 4.090%, 01/15/26 ...... 250,000 256,275 0.875%, 11/15/30 ...... 3,500,000 3,328,281 4.090%, 06/15/26 ...... 125,000 129,732 1.250%, 03/31/28 ...... 910,000 913,590 DT Auto Owner Trust 1.625%, 05/15/31 (b) ...... 245,000 248,752 2.730%, 07/15/25 (144A) ...... 533,000 543,144 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-229 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Automobile—(Continued) Asset-Backed - Other—(Continued) DT Auto Owner Trust Legacy Mortgage Asset Trust 3.610%, 11/15/24 (144A) ...... 510,005 $ 514,307 3.200%, 05/25/59 (144A) (f) ...... 717,221 $ 719,951 Exeter Automobile Receivables Trust Lendmark Funding Trust 3.110%, 08/15/25 (144A) ...... 530,000 546,790 3.900%, 12/20/27 (144A) ...... 600,000 617,567 Flagship Credit Auto Trust 4.230%, 04/20/27 (144A) ...... 709,000 716,599 3.790%, 12/16/24 (144A) ...... 203,000 207,941 4.480%, 04/20/27 (144A) ...... 500,000 505,694 4.080%, 02/18/25 (144A) ...... 625,000 654,605 LL ABS Trust 4.110%, 10/15/24 (144A) ...... 500,000 515,219 2.870%, 03/15/27 (144A) ...... 11,640 11,648 Ford Credit Auto Owner Trust NRZ Excess Spread-Collateralized Notes 3.240%, 04/15/23 ...... 102,044 102,899 3.844%, 12/25/25 (144A) ...... 418,355 422,296 Sonoran Auto Receivables Trust Octane Receivables Trust 4.750%, 06/15/25 ...... 360,231 360,591 3.160%, 09/20/23 (144A) ...... 209,440 211,290 Tesla Auto Lease Trust Oportun Funding X LLC 3.710%, 08/20/21 (144A) ...... 2,610 2,615 4.100%, 10/08/24 (144A) ...... 601,000 601,441 Tricolor Auto Securitization Trust Orange Lake Timeshare Trust 4.875%, 11/15/26 (144A) ...... 314,156 314,726 3.610%, 04/09/38 (144A) ...... 512,656 528,777 U.S. Auto Funding LLC Progress Residential Trust 3.990%, 12/15/22 (144A) ...... 267,759 269,624 3.712%, 08/17/35 (144A) ...... 500,000 500,004 5.500%, 07/15/23 (144A) ...... 24,493 24,734 4.040%, 08/17/35 (144A) ...... 389,000 388,423 6,211,639 4.427%, 10/17/35 (144A) ...... 349,000 351,310 4.466%, 08/17/35 (144A) ...... 850,000 866,371 Asset-Backed - Credit Card—0.1% 4.656%, 08/17/35 (144A) ...... 258,000 259,437 Synchrony Card Issuance Trust PRPM LLC 3.380%, 09/15/24 ...... 150,000 150,975 2.981%, 02/25/25 (144A) (f) ...... 487,766 489,941 World Financial Network Credit Card Master Trust Regional Management Issuance Trust 3.140%, 12/15/25 ...... 375,000 381,852 3.430%, 11/15/28 (144A) ...... 760,000 772,225 Republic Finance Issuance Trust 532,827 3.430%, 11/22/27 (144A) ...... 880,000 889,397 Sierra Timeshare Receivables Funding LLC Asset-Backed - Other—0.8% 2.750%, 08/20/36 (144A) ...... 438,426 450,465 American Homes 4 Rent Trust 3.120%, 05/20/36 (144A) ...... 236,192 241,728 3.786%, 10/17/36 (144A) ...... 181,170 192,568 Trafigura Securitisation Finance plc 4.691%, 10/17/52 (144A) ...... 100,000 108,596 3.730%, 03/15/22 (144A) ...... 422,222 424,745 4.705%, 10/17/36 (144A) ...... 100,000 107,341 Tricon American Homes Trust AMSR Trust 2.716%, 09/17/34 (144A) ...... 200,713 201,374 3.218%, 04/17/37 (144A) ...... 700,000 712,580 3.198%, 03/17/38 (144A) ...... 525,000 542,942 Business Jet Securities LLC Verizon Owner Trust 2.162%, 04/15/36 (144A) ...... 219,800 221,490 3.230%, 04/20/23 ...... 53,042 53,407 2.981%, 11/15/35 (144A) ...... 228,125 232,244 VM DEBT LLC BXG Receivables Note Trust 7.500%, 06/15/24 ...... 490,200 490,200 4.440%, 02/02/34 (144A) ...... 424,200 443,907 VOLT CI LLC Cars Net Lease Mortgage Notes 1.992%, 05/25/51 (144A) (f) ...... 271,033 271,219 3.100%, 12/15/50 (144A) ...... 129,675 132,990 VOLT LLC CoreVest American Finance Trust 2.240%, 04/25/51 (144A) (f) ...... 342,138 342,203 2.705%, 10/15/52 (144A) ...... 473,234 495,224 3.163%, 10/15/52 (144A) ...... 650,000 691,044 17,726,865 3.880%, 03/15/52 (144A) ...... 320,000 352,504 Total Asset-Backed Securities Diamond Resorts Owner Trust (Cost $23,982,935) ...... 24,471,331 3.530%, 02/20/32 (144A) ...... 487,234 503,309 4.190%, 01/21/31 (144A) ...... 106,590 111,025 FirstKey Homes Trust Mortgage-Backed Securities—0.8% 2.668%, 10/19/37 (144A) ...... 650,000 660,728 Fort Credit LLC Collateralized Mortgage Obligations—0.5% 3.526%, 1M LIBOR + 3.430%, 11/16/35 (144A) † (c) .... 790,000 761,218 BVRT Financing Trust Foundation Finance Trust 3.152%, 11/10/22 (144A) † (g) (h) ...... 570,420 570,420 3.860%, 11/15/34 (144A) ...... 125,345 129,443 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-230 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Mortgage-Backed Securities—(Continued)

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Collateralized Mortgage Obligations—(Continued) Health Care Equipment & Supplies—0.0% FMC GMSR Issuer Trust Sartorius AG ...... 1,009 $ 525,225 3.690%, 02/25/24 ...... 1,065,000 $ 1,065,129 Total Preferred Stocks 4.450%, 01/25/26 (144A) (c) ...... 500,000 502,343 (Cost $2,654,940) ...... 2,883,658 Headlands Residential LLC 3.967%, 06/25/24 (144A) (f) ...... 610,000 612,343 LHOME Mortgage Trust Foreign Government—0.0% 3.228%, 10/25/24 (144A) ...... 500,000 502,893 3.844%, 03/25/24 (144A) ...... 345,000 346,663 Sovereign—0.0% 3.868%, 07/25/24 (144A) ...... 650,000 655,521 Mexico Government International Bond Pretium Mortgage Credit Partners LLC 4.280%, 08/14/41 2.240%, 09/27/60 (144A) (f) ...... 516,714 516,600 (Cost $199,877) ...... 200,000 209,928 Seasoned Credit Risk Transfer Trust 3.500%, 03/25/58 ...... 917,731 964,893 3.500%, 07/25/58 ...... 528,250 576,012 Short-Term Investments—17.1% Seasoned Loans Structured Transaction 3.500%, 11/25/28 ...... 1,310,092 1,385,165 Mutual Funds—0.0% Toorak Mortgage Corp. State Street U.S. Treasury Liquidity Fund 0.005% (i) ...... 25,199 25,199 3.721%, 09/25/22 (f) ...... 430,000 435,297 Towd Point Mortgage Trust Repurchase Agreement—15.2% 2.918%, 11/30/60 (144A) (c) ...... 597,743 609,980 Fixed Income Clearing Corp. TVC Mortgage Trust Repurchase Agreement dated 06/30/21 at 0.000%, due on 3.474%, 09/25/24 (144A) ...... 820,000 826,255 07/01/21 with a maturity value of $319,237,735; collateralized by U.S. Treasury Notes with rates ranging from 9,569,514 0.375% - 2.625%, maturity dates ranging from 12/31/23 - 07/31/24, and an aggregate market value of Commercial Mortgage-Backed Securities—0.3% $323,829,127...... 319,237,735 319,237,735 Commercial Mortgage Trust 2.896%, 02/10/37 (144A) ...... 650,000 661,296 U.S. Treasury—1.9% 3.402%, 02/10/37 (144A) ...... 420,000 415,758 U.S. Treasury Bills CSMC Trust 0.034%, 10/07/21 (j) (k) ...... 40,000,000 39,994,555 3.953%, 09/15/37 (144A) ...... 210,000 226,247 0.037%, 08/19/21 (j) (k) ...... 349,000 348,979 FREMF Mortgage Trust 3.652%, 12/25/51 (144A) (c) ...... 500,000 545,297 40,343,534 GS Mortgage Securities Trust Total Short-Term Investments 3.932%, 10/10/35 (144A) (c) ...... 440,000 460,733 (Cost $359,608,214) ...... 359,606,468 MRCD Mortgage Trust 2.718%, 12/15/36 (144A) ...... 1,420,000 1,464,969 One Lincon Street Commercial Mortgage Securities Lending Reinvestments (l)—5.3% 5.724%, 10/15/30 (144A) (c) ...... 1,200,000 1,329,566 SBALR Commercial Mortgage Trust Certificates of Deposit—0.9% 2.825%, 02/13/53 (144A) ...... 810,000 840,783 Agricultural Bank of China SLG Office Trust 0.100%, 07/01/21 ...... 2,300,000 2,299,998 2.585%, 07/15/41 (144A) ...... 390,000 406,239 Industrial & Commercial Bank of China Ltd. 0.110%, 07/22/21 ...... 2,000,000 1,999,914 6,350,888 Mitsubishi UFJ Trust and Banking Corp. (London) Total Mortgage-Backed Securities Zero Coupon, 08/11/21 ...... 999,566 999,840 (Cost $15,555,647) ...... 15,920,402 Mizuho Bank, Ltd. 0.200%, 09/14/21 ...... 3,000,000 3,000,378 Preferred Stocks—0.1% Oversea-Chinese Banking Corp., Ltd. 0.167%, 3M LIBOR + 0.020%, 03/25/22 (c) ...... 2,000,000 2,000,008 Auto Components—0.0% Rabobank International London Schaeffler AG ...... 92,037 849,015 0.266%, 3M LIBOR + 0.080%, 07/30/21 (c) ...... 2,000,000 2,000,300 Royal Bank of Canada New York Automobiles—0.1% 0.240%, 3M LIBOR + 0.040%, 10/05/21 (c) ...... 1,000,000 1,000,177 Volkswagen AG ...... 6,019 1,509,418 Sumitomo Mitsui Banking Corp. 0.156%, 1M LIBOR + 0.060%, 12/17/21 (c) ...... 2,000,000 1,999,996 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-231 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (l)—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Certificates of Deposit—(Continued) Repurchase Agreements—(Continued) Sumitomo Mitsui Trust Bank (London) Citigroup Global Markets, Inc. Zero Coupon, 09/01/21 ...... 1,999,018 $ 1,999,500 Repurchase Agreement dated 06/30/21 at 0.430%, due on Toronto-Dominion Bank 08/04/21 with a maturity value of $500,209; collateralized 0.267%, 3M LIBOR + 0.070%, 10/08/21 (c) ...... 1,000,000 999,911 by U.S. Treasury Obligations at 2.000%, maturing 0.330%, 3M LIBOR + 0.130%, 07/02/21 (c) ...... 1,000,000 1,000,008 11/30/22, and various Common Stock with an aggregate market value of $549,114...... 500,000 $ 500,000 19,300,030 Deutsche Bank AG, London Repurchase Agreement dated 06/30/21 at 0.170%, due on Commercial Paper—0.1% 07/01/21 with a maturity value of $1,600,008; Bedford Row Funding Corp. collateralized by U.S. Treasury and Foreign Obligations with 0.266%, 3M LIBOR + 0.080%, 10/21/21 (c) ...... 1,000,000 1,000,406 rates ranging from 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 03/11/31, and an aggregate Repurchase Agreements—3.5% market value of $1,632,001...... 1,600,000 1,600,000 Barclays Bank plc Repurchase Agreement dated 06/30/21 at 0.230%, due on Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/01/21 with a maturity value of $3,000,019; 07/01/21 with a maturity value of $2,500,014; collateralized by various Common Stock with an aggregate collateralized by various Common Stock with an aggregate market value of $3,333,684...... 3,000,000 3,000,000 market value of $2,777,991...... 2,500,000 2,500,000 HSBC Bank plc Repurchase Agreement dated 06/30/21 at 0.360%, due on Repurchase Agreement dated 06/30/21 at 0.100%, due on 08/04/21 with a maturity value of $1,000,350; 07/01/21 with a maturity value of $9,500,026; collateralized by various Common Stock with an aggregate collateralized by U.S. Treasury Obligations with rates ranging market value of $1,111,335...... 1,000,000 1,000,000 from 0.099% - 6.125%, maturity dates ranging from Barclays Capital, Inc. 08/31/21 - 02/15/50, and an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.030%, due on $9,693,905...... 9,500,000 9,500,000 07/01/21 with a maturity value of $12,669,454; National Bank of Canada collateralized by U.S. Treasury Obligations at 0.000%, Repurchase Agreement dated 06/30/21 at 0.210%, due on maturity dates ranging from 05/15/29 - 11/15/43, and an 07/07/21 with a maturity value of $15,000,613; aggregate market value of $12,922,832...... 12,669,443 12,669,443 collateralized by various Common Stock with an aggregate BofA Securities, Inc. market value of $16,666,764...... 15,000,000 15,000,000 Repurchase Agreement dated 06/30/21 at 0.360%, due on Natwest Market Securities, Inc. 08/04/21 with a maturity value of $2,000,700; Repurchase Agreement dated 06/30/21 at 0.050%, due on collateralized by various Common Stock with an aggregate 07/01/21 with a maturity value of $5,000,007; collateralized by U.S. Treasury Obligations with rates ranging market value of $2,200,000...... 2,000,000 2,000,000 from 1.250% - 8.125%, maturity dates ranging from Cantor Fitzgerald & Co. 08/15/21 - 05/15/51, and an aggregate market value of Repurchase Agreement dated 06/30/21 at 0.050%, due on $5,100,007...... 5,000,000 5,000,000 07/01/21 with a maturity value of $5,000,007; NBC Global Finance, Ltd. collateralized by U.S. Government Agency Obligations with Repurchase Agreement dated 06/30/21 at 0.245%, due on rates ranging from 0.920% - 7.500%, maturity dates 07/07/21 with a maturity value of $900,043; collateralized ranging from 11/01/23 - 06/20/71, and an aggregate by U.S. Treasury Obligations with rates ranging from market value of $5,100,000...... 5,000,000 5,000,000 1.875% - 3.000%, maturity dates ranging from 07/31/22 - Citigroup Global Markets, Inc. 02/15/49, and various Common Stock with an aggregate Repurchase Agreement dated 06/30/21 at 0.060%, due on market value of $1,000,000...... 900,000 900,000 07/01/21 with a maturity value of $5,000,008; Repurchase Agreement dated 06/30/21 at 0.260%, due on collateralized by U.S. Treasury Obligations with rates ranging 07/07/21 with a maturity value of $1,000,051; from 0.125% - 6.125%, maturity dates ranging from collateralized by U.S. Treasury Obligations with rates ranging 08/15/29 - 02/15/31, and an aggregate market value of from 2.125% - 3.875%, maturity dates ranging from $5,100,002...... 5,000,000 5,000,000 12/31/23 - 04/15/29, and various Common Stock with an Repurchase Agreement dated 06/30/21 at 0.430%, due on aggregate market value of $1,111,307...... 1,000,000 1,000,000 08/04/21 with a maturity value of $2,000,836; Societe Generale collateralized by U.S. Treasury Obligations at 0.125%, Repurchase Agreement dated 06/30/21 at 0.180%, due on maturing 05/31/23, and various Common Stock with an 07/01/21 with a maturity value of $5,500,028; aggregate market value of $2,199,056...... 2,000,000 2,000,000 collateralized by various Common Stock with an aggregate market value of $6,111,238...... 5,500,000 5,500,000 72,169,443 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-232 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (l)—(Continued)

Shares/ (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Principal of securities loaned was $118,641,264 and the collateral received consisted of cash in the Security Description Amount* Value amount of $109,958,079 and non-cash collateral with a value of $11,841,373. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and Time Deposits—0.6% categorized as Securities Lending Reinvestments. The non-cash collateral received consists ABN AMRO Bank NV of U.S. government and agency securities that are held in safe-keeping by the lending 0.080%, 07/01/21 ...... 3,000,000 $ 3,000,000 agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. As Landesbank Baden-Wuettertemberg (London) such, this collateral is excluded from the Consolidated Statement of Assets and Liabilities. 0.130%, 07/01/21 ...... 4,600,000 4,600,000 (c) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. National Bank of Canada Maturity date shown for callable securities reflects the earliest possible call date. For 0.130%, OBFR + 0.050%, 07/07/21 ...... 5,000,000 5,000,000 securities based on a published reference index and spread, the index and spread are 12,600,000 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- Mutual Funds—0.2% and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Fidelity Government Portfolio, Institutional Class underlying collateral or prepayments of principal. These securities do not indicate a 0.010% (i) ...... 2,890,052 2,890,052 reference index and spread in their description above. Goldman Sachs Financial Square Government Fund, Institutional (d) Interest only security. Shares (e) TBA (To Be Announced) Securities are purchased on a forward commitment basis with 0.020% (i) ...... 1,000,000 1,000,000 an approximate principal amount and no defined maturity date. The actual principal Wells Fargo Government Money Market Fund, Select Class and maturity date will be determined upon settlement date. 0.030% (i) ...... 1,000,000 1,000,000 (f) Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate. 4,890,052 (g) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Total Securities Lending Reinvestments Level 3. (Cost $109,958,716) ...... 109,959,931 (h) Security was valued in good faith under procedures approved by the Board of Trustees. As of June 30, 2021, these securities represent less than 0.05% of net assets. Total Investments—103.1% (i) The rate shown represents the annualized seven-day yield as of June 30, 2021. (Cost $1,877,453,926) ...... 2,161,346,051 (j) The rate shown represents current yield to maturity. Other assets and liabilities (net)—(3.1)% ...... (65,168,138) (k) All or a portion of the security was pledged as collateral against open centrally cleared Net Assets—100.0% ...... $2,096,177,913 swap contracts. As of June 30, 2021, the market value of securities pledged was $29,129,261. (l) Represents investment of cash collateral received from securities on loan as of June 30, * Principal amount stated in U.S. dollars unless otherwise noted. 2021. † Restricted securities are not registered under the Securities Act of 1933 and are subject (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. to legal restrictions on resale. These securities generally may be resold in transactions These securities may be resold in transactions exempt from registration, normally to exempt from registration or to the public if the securities are subsequently registered. qualified institutional buyers. As of June 30, 2021, the market value of 144A securities Disposal of these securities may involve time-consuming negotiations and prompt sale was $96,511,785, which is 4.6% of net assets. at an acceptable price may be difficult. As of June 30, 2021, the market value of restricted securities was $1,576,421, which is 0.1% of net assets. See details shown in the Restricted Securities table that follows. (a) Non-income producing security.

Acquisition Principal Restricted Securities Date Amount Cost Value BVRT Financing Trust, 3.152%, 11/10/22 ...... 12/02/20 $570,420 $570,420 $ 570,420 Fort Credit LLC, 3.526%, 11/16/35 ...... 11/28/18 790,000 790,000 761,218 Intesa Sanpaolo S.p.A., 4.700%, 09/23/49 ...... 06/17/21 210,000 244,152 244,783 $1,576,421

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) EUR 6,522,698 CBNA ...... 07/29/21 USD 7,954,118 $(215,502) EUR 6,746,716 CBNA ...... 07/29/21 USD 8,180,218 (175,824) EUR 2,362,359 TDB ...... 07/29/21 USD 2,841,399 (38,664) JPY 241,287,617 RBC ...... 07/29/21 USD 2,203,624 (31,241)

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-233 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Deliver Counterparty Date for (Depreciation) CHF 1,978,253 RBC ...... 07/29/21 USD 2,184,266 $ 44,658 CHF 19,266,606 SSBT ...... 07/29/21 USD 21,145,080 307,005 EUR 1,906,313 CBNA ...... 07/29/21 USD 2,335,024 73,349 EUR 4,091,355 RBC ...... 07/29/21 USD 4,989,702 135,664 EUR 3,716,924 RBC ...... 07/29/21 USD 4,439,612 29,804 EUR 1,759,616 RBC ...... 07/29/21 USD 2,144,987 57,356 EUR 1,707,184 RBC ...... 07/29/21 USD 2,082,034 56,608 EUR 132,268,603 SSBT ...... 07/29/21 USD 160,384,147 3,458,900 EUR 2,751,000 SSBT ...... 07/29/21 USD 3,354,162 90,339 EUR 1,912,882 SSBT ...... 07/29/21 USD 2,310,840 41,371 EUR 2,092,190 TDB ...... 07/29/21 USD 2,498,585 16,383 JPY 2,751,394,420 SSBT ...... 07/29/21 USD 25,561,458 789,843 Net Unrealized Appreciation ...... $4,640,049

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Euro STOXX 50 Index Futures ...... 09/17/21 895 EUR 36,296,725 $ (866,688) FTSE 100 Index Futures ...... 09/17/21 114 GBP 7,957,770 (173,484) MSCI Europe Index Futures ...... 09/17/21 45 EUR 1,224,675 (17,518) Russell 2000 Index E-Mini Futures ...... 09/17/21 107 USD 12,346,730 10,750 S&P 500 Index E-Mini Futures ...... 09/17/21 1,030 USD 220,862,900 3,077,391 SPI 200 Index Futures ...... 09/16/21 35 AUD 6,320,125 (35,481) TOPIX Index Futures ...... 09/09/21 119 JPY 2,312,170,000 (153,961) U.S. Treasury Note 10 Year Futures ...... 09/21/21 198 USD 26,235,000 37,109 U.S. Treasury Note 2 Year Futures ...... 09/30/21 53 USD 11,676,977 (19,064) U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 66 USD 12,717,375 395,342

Futures Contracts—Short U.S. Treasury Long Bond Futures ...... 09/21/21 (307) USD (49,350,250) (1,235,666) U.S. Treasury Note 10 Year Futures ...... 09/21/21 (971) USD (128,657,500) (740,819) U.S. Treasury Note 5 Year Futures ...... 09/30/21 (100) USD (12,342,969) 11,704 U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 (47) USD (6,918,547) (76,373) United Kingdom Long Gilt Bond Futures ...... 09/28/21 (277) GBP (35,483,700) (423,836) Net Unrealized Depreciation ...... $ (210,594)

Swap Agreements Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay ...... 3MLIBOR Quarterly 0.830% Semi-Annually 04/08/31 USD 103,020,000 $(5,867,535) $(136,037) $(5,731,498) Pay ...... 3MLIBOR Quarterly 1.491% Semi-Annually 06/25/31 USD 97,520,000 355,675 29,589 326,086 Pay ...... 3MLIBOR Quarterly 1.505% Semi-Annually 06/10/31 USD 135,950,000 712,310 (329,957) 1,042,267 Pay ...... 3MLIBOR Quarterly 1.691% Semi-Annually 09/30/31 USD 120,820,000 2,627,835 (6,091) 2,633,926 Pay ...... 3MLIBOR Quarterly 1.695% Semi-Annually 09/30/31 USD 146,180,000 3,236,498 (3,367) 3,239,865 Totals ...... $1,064,783 $(445,863) $ 1,510,646

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-234 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations

Counterparties (CBNA)— Citibank N.A. (SSBT)— State Street Bank and Trust Co. (RBC)— Royal Bank of Canada (TDB)— Toronto Dominion Bank

Currencies (AUD)— Australian Dollar (EUR)— Euro (JPY)— Japanese Yen (CHF)— Swiss Franc (GBP)— British Pound (USD)— United States Dollar

Index Abbreviations (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (LIBOR)— London Interbank Offered Rate (SOFR)— Secured Overnight Financing Rate Maturity Index (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ACES)— Alternative Credit Enhancement Securities (ETF)— Exchange-Traded Fund (STACR)— Structured Agency Credit Risk (ADR)— American Depositary Receipt (GDR)— Global Depositary Receipt (CMO)— Collateralized Mortgage Obligation (REMIC)— Real Estate Mortgage Investment Conduit

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $ 5,571,772 $ 2,648,921 $— $ 8,220,693 Air Freight & Logistics ...... 2,615,163 4,692,954 — 7,308,117 Airlines ...... 1,003,203 825,561 — 1,828,764 Auto Components ...... 428,405 3,276,647 — 3,705,052 Automobiles ...... 2,962,303 13,004,099 — 15,966,402 Banks ...... 33,905,278 44,774,982 — 78,680,260 Beverages ...... 4,373,199 11,702,466 — 16,075,665 Biotechnology ...... 9,100,641 2,419,950 — 11,520,591 Building Products ...... 3,000,383 5,164,559 — 8,164,942 Capital Markets ...... 15,005,918 12,808,119 — 27,814,037 Chemicals ...... 2,558,975 9,724,458 — 12,283,433 Commercial Services & Supplies ...... 494,435 1,760,186 — 2,254,621 Communications Equipment ...... 2,782,568 1,751,914 — 4,534,482 Construction & Engineering ...... 355,397 1,628,439 — 1,983,836 Construction Materials ...... 1,495,544 4,306,560 — 5,802,104 Consumer Finance ...... 5,650,286 — — 5,650,286 Containers & Packaging ...... 3,710,155 1,824,828 — 5,534,983 Distributors ...... — 1,083,125 — 1,083,125 Diversified Consumer Services ...... 597,291 — — 597,291 Diversified Financial Services ...... 6,191,293 2,558,153 — 8,749,446 Diversified Telecommunication Services ...... 3,595,053 6,140,431 — 9,735,484 Electric Utilities ...... 8,546,359 6,229,313 — 14,775,672

See accompanying notes to financial statements. BHFTI-235 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Electrical Equipment ...... $ 2,590,614 $ 7,884,629 $ — $ 10,475,243 Electronic Equipment, Instruments & Components ...... 2,259,969 6,753,373 — 9,013,342 Entertainment ...... 8,211,834 5,604,882 — 13,816,716 Equity Real Estate Investment Trusts ...... 14,627,530 2,258,030 — 16,885,560 Food & Staples Retailing ...... 2,907,740 7,652,548 — 10,560,288 Food Products ...... 3,133,891 12,756,433 — 15,890,324 Gas Utilities ...... — 497,881 — 497,881 Health Care Equipment & Supplies ...... 6,647,155 3,485,252 — 10,132,407 Health Care Providers & Services ...... 9,875,361 1,139,619 — 11,014,980 Hotels, Restaurants & Leisure ...... 4,523,568 3,035,533 — 7,559,101 Household Durables ...... 3,358,292 9,873,653 — 13,231,945 Household Products ...... 4,355,887 1,775,374 — 6,131,261 Independent Power and Renewable Electricity Producers ...... — 819,552 — 819,552 Industrial Conglomerates ...... 3,077,728 9,244,871 — 12,322,599 Insurance ...... 15,417,499 29,539,595 — 44,957,094 Interactive Media & Services ...... 14,709,959 8,972,217 — 23,682,176 Internet & Direct Marketing Retail ...... 17,580,263 4,691,706 — 22,271,969 IT Services ...... 15,209,209 13,511,251 — 28,720,460 Life Sciences Tools & Services ...... 2,484,251 4,088,091 — 6,572,342 Machinery ...... 8,289,516 12,486,677 — 20,776,193 Marine ...... — 4,450,641 — 4,450,641 Media ...... 7,181,548 2,186,011 — 9,367,559 Metals & Mining ...... 492,709 16,248,348 — 16,741,057 Multi-Utilities ...... 744,801 3,877,185 — 4,621,986 Multiline Retail ...... 3,273,292 3,370,303 — 6,643,595 Oil, Gas & Consumable Fuels ...... 13,419,882 11,964,827 — 25,384,709 Personal Products ...... 1,243,912 9,055,936 — 10,299,848 Pharmaceuticals ...... 12,186,893 34,189,046 — 46,375,939 Professional Services ...... 2,012,286 9,100,368 — 11,112,654 Real Estate Management & Development ...... 1,309,012 4,872,491 — 6,181,503 Road & Rail ...... 1,943,989 2,823,300 — 4,767,289 Semiconductors & Semiconductor Equipment ...... 26,893,429 17,667,756 — 44,561,185 Software ...... 16,707,657 2,251,633 — 18,959,290 Specialty Retail ...... 12,945,838 7,563,736 — 20,509,574 Technology Hardware, Storage & Peripherals ...... 16,082,578 1,611,925 — 17,694,503 Textiles, Apparel & Luxury Goods ...... 3,644,168 11,627,761 — 15,271,929 Thrifts & Mortgage Finance ...... — 3,623,042 — 3,623,042 Tobacco ...... 2,543,264 3,897,156 — 6,440,420 Trading Companies & Distributors ...... — 10,726,392 — 10,726,392 Wireless Telecommunication Services ...... 2,413,881 2,394,358 — 4,808,239 Total Common Stocks ...... 378,243,026 447,899,047 — 826,142,073 Total Convertible Bonds* ...... — 371,481,033 — 371,481,033 Total Corporate Bonds & Notes* ...... — 258,137,916 — 258,137,916 Total U.S. Treasury & Government Agencies* ...... — 95,480,373 — 95,480,373 Total Mutual Funds* ...... 67,691,473 — — 67,691,473 Total Convertible Preferred Stocks* ...... 29,361,465 — — 29,361,465 Total Asset-Backed Securities* ...... — 24,471,331 — 24,471,331 Mortgage-Backed Securities Collateralized Mortgage Obligations ...... — 8,999,094 570,420 9,569,514 Commercial Mortgage-Backed Securities ...... — 6,350,888 — 6,350,888 Total Mortgage-Backed Securities ...... — 15,349,982 570,420 15,920,402 Total Preferred Stocks* ...... — 2,883,658 — 2,883,658 Total Foreign Government* ...... — 209,928 — 209,928 Short-Term Investments Mutual Funds ...... 25,199 — — 25,199 Repurchase Agreement ...... — 319,237,735 — 319,237,735 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-236 Brighthouse Funds Trust I JPMorgan Global Active Allocation Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total U.S. Treasury ...... $ — $ 40,343,534 $ — $ 40,343,534 Total Short-Term Investments ...... 25,199 359,581,269 — 359,606,468 Securities Lending Reinvestments Certificates of Deposit ...... — 19,300,030 — 19,300,030 Commercial Paper ...... — 1,000,406 — 1,000,406 Repurchase Agreements ...... — 72,169,443 — 72,169,443 Time Deposits ...... — 12,600,000 — 12,600,000 Mutual Funds ...... 4,890,052 — — 4,890,052 Total Securities Lending Reinvestments ...... 4,890,052 105,069,879 — 109,959,931 Total Investments ...... $480,211,215 $1,680,564,416 $570,420 $2,161,346,051 Collateral for Securities Loaned (Liability) ...... $ — $(109,958,079) $ — $ (109,958,079) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 5,101,280 $ — $ 5,101,280 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (461,231) — (461,231) Total Forward Contracts ...... $ — $ 4,640,049 $ — $ 4,640,049 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 3,532,296 $ — $ — $ 3,532,296 Futures Contracts (Unrealized Depreciation) ...... (3,742,890) — — (3,742,890) Total Futures Contracts ...... $ (210,594) $ — $ — $ (210,594) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 7,242,144 $ — $ 7,242,144 Centrally Cleared Swap Contracts (Unrealized Depreciation) ...... — (5,731,498) — (5,731,498) Total Centrally Cleared Swap Contracts ...... $ — $ 1,510,646 $ — $ 1,510,646

* 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 June 30, 2021 is not presented.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-237 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—96.4% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.5% Banks—(Continued) AAR Corp...... 13,900 $ 538,625 Flushing Financial Corp...... 26,300 $ 563,609 Astronics Corp. (a) ...... 69,000 1,208,190 Fulton Financial Corp. (b) ...... 67,300 1,061,994 Moog, Inc. - Class A ...... 10,800 907,848 , Inc...... 10,600 583,848 2,654,663 Great Southern Bancorp, Inc...... 6,600 355,740 Great Western Bancorp, Inc...... 82,100 2,692,059 Air Freight & Logistics—1.3% Hancock Whitney Corp...... 12,400 551,056 Echo Global Logistics, Inc. (a) ...... 113,200 3,479,768 Hilltop Holdings, Inc. (b) ...... 85,000 3,094,000 Hub Group, Inc. - Class A (a) ...... 53,900 3,556,322 Home BancShares, Inc...... 69,000 1,702,920 HomeTrust Bancshares, Inc...... 28,600 797,940 7,036,090 Hope Bancorp, Inc...... 279,129 3,958,049 Independent Bank Corp...... 9,800 212,758 Airlines—0.4% Investors Bancorp, Inc...... 174,700 2,491,222 Hawaiian Holdings, Inc. (a) (b) ...... 16,400 399,668 Mercantile Bank Corp...... 3,400 102,680 SkyWest, Inc. (a) ...... 40,100 1,727,107 OFG Bancorp ...... 18,645 412,427 2,126,775 Old National Bancorp ...... 87,800 1,546,158 , Inc. (b) ...... 18,200 769,678 Auto Components—0.8% Pinnacle Financial Partners, Inc...... 8,900 785,781 Adient plc (a) ...... 40,500 1,830,600 Preferred Bank (b) ...... 3,200 202,464 American Axle & Manufacturing Holdings, Inc. (a) ...... 15,800 163,530 RBB Bancorp ...... 6,900 167,118 Dana, Inc...... 40,500 962,280 Renasant Corp. (b) ...... 2,600 104,000 Goodyear Tire & Rubber Co. (The) (a) ...... 64,265 1,102,145 S&T Bancorp, Inc...... 4,100 128,330 Sandy Spring Bancorp, Inc...... 28,100 1,240,053 4,058,555 Simmons First National Corp. - Class A ...... 67,500 1,980,450 Tompkins Financial Corp...... 4,059 314,816 Banks—13.8% TriState Capital Holdings, Inc. (a) ...... 4,600 93,794 1st Source Corp...... 19,391 900,906 Trustmark Corp...... 92,800 2,858,240 American National Bankshares, Inc. (b) ...... 4,300 133,687 UMB Financial Corp...... 40,000 3,722,400 Associated Banc-Corp...... 126,700 2,594,816 Valley National Bancorp ...... 8,320 111,738 Atlantic Capital Bancshares, Inc. (a) ...... 13,700 348,802 Washington Trust Bancorp, Inc...... 6,800 349,180 Atlantic Union Bankshares Corp...... 1,600 57,952 Webster Financial Corp...... 20,000 1,066,800 BancorpSouth Bank ...... 14,000 396,620 West Bancorp, Inc...... 2,370 65,768 Banner Corp...... 7,500 406,575 Westamerica Bancorp ...... 29,600 1,717,688 Brookline Bancorp, Inc...... 56,700 847,665 Bryn Mawr Bank Corp...... 5,500 232,045 73,884,060 Byline Bancorp, Inc...... 35,300 798,839 Cadence Bancorp ...... 65,400 1,365,552 Biotechnology—5.9% Cathay General Bancorp ...... 104,600 4,117,056 89bio, Inc. (a) ...... 24,100 450,670 Central Pacific Financial Corp...... 80,501 2,097,856 Akebia Therapeutics, Inc. (a) (b) ...... 443,700 1,681,623 CIT Group, Inc...... 106,600 5,499,494 Allovir, Inc. (a) (b) ...... 53,500 1,056,090 City Holding Co. (b) ...... 11,509 865,937 Arcus Biosciences, Inc. (a) (b) ...... 48,678 1,336,698 Columbia Banking System, Inc...... 40,500 1,561,680 Arena Pharmaceuticals, Inc. (a) (b) ...... 85,100 5,803,820 Community Bank System, Inc...... 22,700 1,717,255 Bluebird Bio, Inc. (a) ...... 72,600 2,321,748 Community Trust Bancorp, Inc...... 21,916 884,968 Eagle Pharmaceuticals, Inc. (a) (b) ...... 30,800 1,318,240 Customers Bancorp, Inc. (a) ...... 20,200 787,598 Enanta Pharmaceuticals, Inc. (a) (b) ...... 5,100 224,451 Eastern Bankshares, Inc...... 91,900 1,890,383 Epizyme, Inc. (a) (b) ...... 34,600 287,526 Enterprise Financial Services Corp...... 38,000 1,762,820 Fate Therapeutics, Inc. (a) (b) ...... 25,500 2,213,145 Equity Bancshares, Inc. - Class A (a) ...... 17,500 533,575 Frequency Therapeutics, Inc. (a) (b) ...... 116,200 1,157,352 Farmers National Banc Corp...... 19,800 307,098 Iovance Biotherapeutics, Inc. (a) (b) ...... 35,100 913,302 Financial Institutions, Inc...... 12,499 374,970 Lexicon Pharmaceuticals, Inc. (a) (b) ...... 231,400 1,062,126 First Bancorp (b) ...... 5,500 225,005 Myriad Genetics, Inc. (a) ...... 66,500 2,033,570 First Commonwealth Financial Corp...... 173,100 2,435,517 NexImmune, Inc. (a) (b) ...... 53,300 869,856 First Community Bancshares, Inc...... 10,800 322,380 Protagonist Therapeutics, Inc. (a) ...... 83,900 3,765,432 First Financial Corp...... 3,700 151,034 REGENXBIO, Inc. (a) ...... 30,800 1,196,580 First Hawaiian, Inc. (b) ...... 17,000 481,780 Travere Therapeutics, Inc. (a) (b) ...... 102,400 1,494,016 First Interstate BancSystem, Inc. - Class A ...... 12,122 507,063 Turning Point Therapeutics, Inc. (a) (b) ...... 27,000 2,106,540 First Merchants Corp. (b) ...... 34,600 1,441,782 31,292,785 First Midwest Bancorp, Inc...... 102,400 2,030,592

See accompanying notes to financial statements. BHFTI-238 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Building Products—0.4% Construction & Engineering—3.2% Cornerstone Building Brands, Inc. (a) ...... 25,100 $ 456,318 Arcosa, Inc...... 31,400 $ 1,844,436 Gibraltar Industries, Inc. (a) ...... 5,700 434,967 Argan, Inc...... 37,900 1,811,241 Quanex Building Products Corp. (b) ...... 24,300 603,612 Comfort Systems USA, Inc...... 15,600 1,229,124 UFP Industries, Inc...... 6,500 483,210 EMCOR Group, Inc...... 44,603 5,494,644 MasTec, Inc. (a) ...... 27,500 2,917,750 1,978,107 Matrix Service Co. (a) ...... 126,400 1,327,200 MYR Group, Inc. (a) ...... 8,500 772,820 Capital Markets—1.4% Primoris Services Corp...... 31,500 927,045 Artisan Partners Asset Management, Inc. - Class A ...... 5,600 284,592 Tutor Perini Corp. (a) ...... 57,000 789,450 Blucora, Inc. (a) ...... 24,200 418,902 Cowen, Inc. - Class A (b) ...... 36,200 1,486,010 17,113,710 Donnelley Financial Solutions, Inc. (a) ...... 17,400 574,200 Federated Hermes, Inc...... 28,000 949,480 Construction Materials—0.1% Piper Sandler Cos...... 6,800 881,008 Summit Materials, Inc. - Class A (a) (b) ...... 10,200 355,470 Stifel Financial Corp...... 26,150 1,696,089 Virtus Investment Partners, Inc...... 4,500 1,249,965 Consumer Finance—1.4% EZCORP, Inc. - Class A (a) (b) ...... 47,600 287,028 7,540,246 FirstCash, Inc...... 9,900 756,756 Navient Corp...... 109,100 2,108,903 Chemicals—1.7% Nelnet, Inc. - Class A ...... 16,300 1,226,249 AdvanSix, Inc. (a) ...... 5,300 158,258 PROG Holdings, Inc...... 64,200 3,089,946 Avient Corp...... 35,700 1,755,012 Regional Management Corp...... 5,900 274,586 FutureFuel Corp...... 39,700 381,120 7,743,468 HB Fuller Co...... 6,200 394,382 Koppers Holdings, Inc. (a) (b) ...... 22,000 711,700 Containers & Packaging—0.1% Kraton Corp. (a) (b) ...... 2,700 87,183 Greif, Inc. - Class A ...... 3,800 230,090 Minerals Technologies, Inc...... 18,300 1,439,661 Myers Industries, Inc...... 6,500 136,500 Orion Engineered Carbons S.A. (a) ...... 22,000 417,780 Pactiv Evergreen, Inc. (b) ...... 12,600 189,882 PQ Group Holdings, Inc...... 20,800 319,488 Trinseo S.A...... 18,600 1,113,024 556,472 Tronox Holding plc - Class A ...... 103,500 2,318,400 Distributors—0.3% 9,096,008 Core-Mark Holding Co., Inc...... 38,900 1,750,889

Commercial Services & Supplies—2.4% Diversified Consumer Services—0.1% ABM Industries, Inc...... 59,000 2,616,650 Houghton Mifflin Harcourt Co. (a) ...... 54,800 604,992 ACCO Brands Corp...... 202,250 1,745,417 Cimpress plc (a) ...... 1,900 205,979 Diversified Telecommunication Services—0.3% Deluxe Corp...... 15,000 716,550 Consolidated Communications Holdings, Inc. (a) (b) ...... 46,000 404,340 Ennis, Inc...... 12,600 271,152 Liberty Latin America, Ltd. - Class A (a) ...... 34,700 480,942 Healthcare Services Group, Inc. (b) ...... 29,700 937,629 Liberty Latin America, Ltd. - Class C (a) ...... 67,023 945,024 Heritage-Crystal Clean, Inc. (a) ...... 13,500 400,680 1,830,306 Herman Miller, Inc...... 52,400 2,470,136 HNI Corp...... 11,800 518,846 Electric Utilities—0.6% IBEX Holdings, Ltd. (a) (b) ...... 42,100 821,792 ALLETE, Inc...... 5,600 391,888 SP Plus Corp. (a) ...... 18,500 565,915 IDACORP, Inc...... 2,800 273,000 Steelcase, Inc. - Class A ...... 103,800 1,568,418 Otter Tail Corp...... 6,600 322,146 Team, Inc. (a) (b) ...... 26,600 178,220 Portland General Electric Co...... 46,400 2,138,112 13,017,384 Spark Energy, Inc. - Class A (b) ...... 16,800 190,344 3,315,490 Communications Equipment—1.1% ADTRAN, Inc. (b) ...... 16,900 348,985 Electrical Equipment—0.4% Comtech Telecommunications Corp...... 6,300 152,208 AZZ, Inc...... 11,900 616,182 EchoStar Corp. - Class A (a) ...... 61,000 1,481,690 Bloom Energy Corp. - Class A (a) (b) ...... 6,400 171,968 Harmonic, Inc. (a) (b) ...... 149,000 1,269,480 Powell Industries, Inc. (b) ...... 35,500 1,098,725 NetScout Systems, Inc. (a) ...... 85,800 2,448,732 Thermon Group Holdings, Inc. (a) (b) ...... 9,500 161,880 5,701,095 2,048,755

See accompanying notes to financial statements. BHFTI-239 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Electronic Equipment, Instruments & Components—2.3% Equity Real Estate Investment Trusts—(Continued) Benchmark Electronics, Inc...... 79,500 $ 2,262,570 Industrial Logistics Properties Trust ...... 12,600 $ 329,364 Knowles Corp. (a) ...... 133,000 2,625,420 Innovative Industrial Properties, Inc. (b) ...... 2,500 477,550 OSI Systems, Inc. (a) ...... 16,400 1,666,896 Kite Realty Group Trust ...... 39,500 869,395 Sanmina Corp. (a) ...... 38,800 1,511,648 Lexington Realty Trust (b) ...... 203,800 2,435,410 ScanSource, Inc. (a) ...... 59,200 1,665,296 New Senior Investment Group, Inc. (b) ...... 137,000 1,202,860 TTM Technologies, Inc. (a) ...... 64,700 925,210 NexPoint Residential Trust, Inc. (b) ...... 2,363 129,918 Vishay Intertechnology, Inc...... 81,300 1,833,315 Physicians Realty Trust ...... 87,600 1,617,972 12,490,355 Piedmont Office Realty Trust, Inc. - Class A ...... 83,400 1,540,398 Plymouth Industrial REIT, Inc...... 11,100 222,222 Energy Equipment & Services—1.3% PotlatchDeltic Corp...... 25,625 1,361,969 Bristow Group, Inc. (a) ...... 4,999 128,024 QTS Realty Trust, Inc. - Class A ...... 8,700 672,510 ChampionX Corp. (a) ...... 36,900 946,485 Retail Opportunity Investments Corp...... 36,500 644,590 Helmerich & Payne, Inc...... 28,400 926,692 Retail Properties of America, Inc. - Class A ...... 65,700 752,265 NexTier Oilfield Solutions, Inc. (a) ...... 160,446 763,723 RLJ Lodging Trust ...... 24,157 367,911 Oceaneering International, Inc. (a) ...... 62,000 965,340 Ryman Hospitality Properties, Inc. (a) ...... 2,200 173,712 Oil States International, Inc. (a) (b) ...... 57,400 450,590 Sabra Health Care REIT, Inc...... 131,700 2,396,940 Patterson-UTI Energy, Inc...... 115,800 1,151,052 Service Properties Trust ...... 36,000 453,600 ProPetro Holding Corp. (a) ...... 88,800 813,408 SITE Centers Corp. (b) ...... 63,200 951,792 Select Energy Services, Inc. - Class A (a) ...... 70,600 426,424 STAG Industrial, Inc. (b) ...... 83,300 3,117,919 Solaris Oilfield Infrastructure, Inc. - Class A ...... 27,000 262,980 Summit Hotel Properties, Inc. (a) (b) ...... 12,800 119,424 Sunstone Hotel Investors, Inc. (a) ...... 218,973 2,719,645 6,834,718 Terreno Realty Corp...... 23,900 1,542,028 UMH Properties, Inc. (b) ...... 37,600 820,432 Entertainment—1.2% Urban Edge Properties ...... 32,200 615,020 AMC Entertainment Holdings, Inc. - Class A (a) (b) ...... 95,300 5,401,604 Urstadt Biddle Properties, Inc. - Class A ...... 14,000 271,320 Lions Gate Entertainment Corp. - Class A (a) ...... 41,000 848,700 Xenia Hotels & Resorts, Inc. (a) ...... 69,900 1,309,227 6,250,304 49,893,576

Equity Real Estate Investment Trusts—9.4% Food & Staples Retailing—0.6% Acadia Realty Trust ...... 16,400 360,144 Andersons, Inc. (The) ...... 5,700 174,021 Agree Realty Corp. (b) ...... 41,200 2,904,188 Rite Aid Corp. (a) (b) ...... 42,192 687,730 Alexander & Baldwin, Inc...... 59,189 1,084,342 SpartanNash Co...... 9,000 173,790 American Assets Trust, Inc...... 22,900 853,941 Sprouts Farmers Market, Inc. (a) ...... 76,000 1,888,600 American Finance Trust, Inc...... 32,300 273,904 United Natural Foods, Inc. (a) ...... 12,600 465,948 Broadstone Net Lease, Inc. (b) ...... 44,300 1,037,063 CareTrust REIT, Inc...... 39,000 905,970 3,390,089 CatchMark Timber Trust, Inc. - Class A ...... 13,400 156,780 Centerspace ...... 8,000 631,200 Food Products—1.1% Chatham Lodging Trust (a) ...... 15,000 193,050 Darling Ingredients, Inc. (a) ...... 72,300 4,880,250 City Office REIT, Inc...... 56,700 704,781 Fresh Del Monte Produce, Inc...... 12,900 424,152 Columbia Property Trust, Inc...... 9,800 170,422 Seneca Foods Corp. - Class A (a) ...... 6,100 311,588 CorePoint Lodging, Inc. (a) (b) ...... 10,000 107,000 5,615,990 Corporate Office Properties Trust ...... 68,500 1,917,315 DiamondRock Hospitality Co. (a) ...... 158,900 1,541,330 Gas Utilities—1.2% Digitalbridge Group, Inc. (a) (b) ...... 115,400 911,660 Brookfield Infrastructure Corp. - Class A ...... 4,700 354,380 Easterly Government Properties, Inc...... 29,700 626,076 Chesapeake Utilities Corp...... 1,400 168,462 Essential Properties Realty Trust, Inc...... 22,600 611,104 New Jersey Resources Corp...... 48,400 1,915,188 First Industrial Realty Trust, Inc...... 15,700 820,011 Northwest Natural Holding Co...... 5,600 294,112 Four Corners Property Trust, Inc...... 36,100 996,721 ONE Gas, Inc...... 17,900 1,326,748 Getty Realty Corp...... 52,829 1,645,623 Southwest Gas Holdings, Inc...... 27,000 1,787,130 Gladstone Commercial Corp. (b) ...... 56,200 1,267,872 Spire, Inc...... 9,139 660,476 Global Medical REIT, Inc...... 9,500 140,220 6,506,496 Global Net Lease, Inc...... 29,700 549,450 Healthcare Realty Trust, Inc...... 40,000 1,208,000 Health Care Equipment & Supplies—1.3% Highwoods Properties, Inc...... 5,300 239,401 AngioDynamics, Inc. (a) ...... 31,800 862,734 Independence Realty Trust, Inc...... 50,500 920,615 Bioventus, Inc. - Class A (a) (b) ...... 52,400 922,240

See accompanying notes to financial statements. BHFTI-240 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Health Care Equipment & Supplies—(Continued) Insurance—(Continued) Integer Holdings Corp. (a) ...... 25,700 $ 2,420,940 Selective Insurance Group, Inc...... 6,400 $ 519,360 Natus Medical, Inc. (a) ...... 69,800 1,813,404 Stewart Information Services Corp...... 15,600 884,364 Utah Medical Products, Inc...... 6,200 527,248 United Insurance Holdings Corp...... 20,400 116,280 Varex Imaging Corp. (a) (b) ...... 20,200 541,764 7,169,930 7,088,330 Interactive Media & Services—0.7% Health Care Providers & Services—1.2% Cars.com, Inc. (a) ...... 83,200 1,192,256 Cross Country Healthcare, Inc. (a) ...... 67,900 1,121,029 QuinStreet, Inc. (a) ...... 51,300 953,154 National HealthCare Corp...... 4,400 307,560 Yelp, Inc. (a) ...... 34,000 1,358,640 Option Care Health, Inc. (a) ...... 45,300 990,711 3,504,050 Owens & Minor, Inc...... 11,600 491,028 Tenet Healthcare Corp. (a) ...... 47,300 3,168,627 IT Services—1.2% Tivity Health, Inc. (a) (b) ...... 7,000 184,170 BM Technologies, Inc. (a) ...... 4,693 58,381 6,263,125 CSG Systems International, Inc...... 38,700 1,825,866 LiveRamp Holdings, Inc. (a) ...... 56,900 2,665,765 Health Care Technology—1.4% Marathon Digital Holdings, Inc. (a) (b) ...... 2,873 90,126 Allscripts Healthcare Solutions, Inc. (a) (b) ...... 346,000 6,404,460 Sykes Enterprises, Inc. (a) ...... 33,700 1,809,690 Computer Programs & Systems, Inc. (b) ...... 5,500 182,765 6,449,828 Evolent Health, Inc. - Class A (a) (b) ...... 42,300 893,376 7,480,601 Machinery—2.2% AGCO Corp...... 17,100 2,229,498 Hotels, Restaurants & Leisure—0.4% Altra Industrial Motion Corp...... 45,300 2,945,406 Del Taco Restaurants, Inc...... 70,900 709,709 Barnes Group, Inc...... 10,500 538,125 Fiesta Restaurant Group, Inc. (a) ...... 17,400 233,682 Douglas Dynamics, Inc...... 7,442 302,815 Marriott Vacations Worldwide Corp. (a) ...... 7,900 1,258,470 EnPro Industries, Inc...... 8,400 816,060 2,201,861 Manitowoc Co., Inc. (The) (a) ...... 26,100 639,450 Meritor, Inc. (a) ...... 21,100 494,162 Household Durables—1.7% Navistar International Corp. (a) ...... 4,300 191,350 Hooker Furniture Corp...... 14,400 498,816 Terex Corp...... 35,900 1,709,558 Lifetime Brands, Inc...... 14,600 218,562 TriMas Corp. (a) ...... 6,200 188,046 Meritage Homes Corp. (a) ...... 11,200 1,053,696 Wabash National Corp. (b) ...... 99,400 1,590,400 Taylor Morrison Home Corp. (a) ...... 59,000 1,558,780 11,644,870 TRI Pointe Group, Inc. (a) ...... 276,100 5,916,823 9,246,677 Marine—0.1% Costamare, Inc...... 40,200 474,762 Household Products—0.4% Central Garden and Pet Co. (Non-Voting Shares) - Class A (a) ...... 32,500 1,569,750 Media—2.1% Spectrum Brands Holdings, Inc...... 4,600 391,184 AMC Networks, Inc. - Class A (a) (b) ...... 65,400 4,368,720 Gray Television, Inc...... 118,000 2,761,200 1,960,934 Hemisphere Media Group, Inc. (a) ...... 44,900 529,820 John Wiley & Sons, Inc. - Class A ...... 34,500 2,076,210 Independent Power and Renewable Electricity Producers—0.6% Sinclair Broadcast Group, Inc. - Class A (b) ...... 47,300 1,571,306 Brookfield Renewable Corp. - Class A ...... 18,200 763,308 Clearway Energy, Inc. - Class A ...... 46,200 1,165,164 11,307,256 Clearway Energy, Inc. - Class C (b) ...... 46,000 1,218,080 Metals & Mining—2.2% 3,146,552 Alcoa Corp. (a) ...... 26,200 965,208 Allegheny Technologies, Inc. (a) (b) ...... 46,600 971,610 Insurance—1.3% Arconic Corp. (a) ...... 59,000 2,101,580 Ambac Financial Group, Inc. (a) ...... 15,400 241,164 Cleveland-Cliffs, Inc. (a) (b) ...... 65,400 1,410,024 American Equity Investment Life Holding Co...... 37,500 1,212,000 Commercial Metals Co...... 39,100 1,201,152 Argo Group International Holdings, Ltd...... 20,719 1,073,866 Hecla Mining Co. (b) ...... 35,100 261,144 CNO Financial Group, Inc...... 91,900 2,170,678 Kaiser Aluminum Corp...... 10,700 1,321,343 Heritage Insurance Holdings, Inc...... 26,400 226,512 Materion Corp...... 7,500 565,125 Horace Mann Educators Corp...... 8,511 318,481 SunCoke Energy, Inc...... 158,000 1,128,120 ProAssurance Corp...... 17,900 407,225 United States Steel Corp...... 13,500 324,000

See accompanying notes to financial statements. BHFTI-241 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Metals & Mining—(Continued) Paper & Forest Products—1.0% Warrior Met Coal, Inc...... 57,700 $ 992,440 Corp. (a) ...... 25,900 $ 1,423,464 Worthington Industries, Inc...... 5,300 324,254 Glatfelter Corp...... 58,800 821,436 11,566,000 Louisiana-Pacific Corp...... 7,100 428,059 Neenah, Inc...... 8,900 446,513 Mortgage Real Estate Investment Trusts—2.5% Schweitzer-Mauduit International, Inc...... 30,900 1,247,742 Apollo Commercial Real Estate Finance, Inc. (b) ...... 29,100 464,145 Verso Corp. - Class A ...... 46,900 830,130 Ares Commercial Real Estate Corp...... 38,500 565,565 5,197,344 Blackstone Mortgage Trust, Inc. - Class A (b) ...... 44,500 1,419,105 Ellington Financial, Inc...... 55,700 1,066,655 Personal Products—1.2% Granite Point Mortgage Trust, Inc...... 16,800 247,800 BellRing Brands, Inc. - Class A (a) ...... 163,100 5,111,554 Great Ajax Corp...... 6,000 77,880 Edgewell Personal Care Co...... 15,700 689,230 Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b) ...... 28,700 1,611,505 Honest Co. Inc. (The) (a) (b) ...... 33,498 542,333 KKR Real Estate Finance Trust, Inc. (b) ...... 47,700 1,031,751 6,343,117 Ladder Capital Corp...... 95,600 1,103,224 MFA Financial, Inc...... 88,400 405,756 Pharmaceuticals—0.8% New York Mortgage Trust, Inc...... 58,800 262,836 Endo International plc (a) (b) ...... 240,600 1,126,008 PennyMac Mortgage Investment Trust ...... 78,500 1,653,210 Intra-Cellular Therapies, Inc. (a) ...... 19,500 795,990 Ready Capital Corp. (b) ...... 20,800 330,096 Lannett Co., Inc. (a) (b) ...... 217,455 1,015,515 Redwood Trust, Inc...... 169,400 2,044,658 NGM Biopharmaceuticals, Inc. (a) ...... 71,000 1,400,120 TPG RE Finance Trust, Inc...... 61,200 823,140 Two Harbors Investment Corp. (b) ...... 35,745 270,232 4,337,633 13,377,558 Professional Services—3.3% Multi-Utilities—0.8% Barrett Business Services, Inc...... 25,460 1,848,651 Avista Corp...... 39,800 1,698,266 GP Strategies Corp. (a) ...... 21,900 344,268 Black Hills Corp...... 28,800 1,890,144 Heidrick & Struggles International, Inc...... 24,900 1,109,295 Unitil Corp. (b) ...... 11,200 593,264 Huron Consulting Group, Inc. (a) ...... 22,400 1,100,960 Insperity, Inc...... 1,900 171,703 4,181,674 KBR, Inc...... 21,700 827,855 Kelly Services, Inc. - Class A (a) ...... 78,600 1,884,042 Multiline Retail—0.8% Korn Ferry (b) ...... 33,200 2,408,660 Dillard’s, Inc. - Class A (b) ...... 8,300 1,501,304 ManTech International Corp...... 55,700 4,820,278 Macy’s, Inc. (a) ...... 142,800 2,707,488 TrueBlue, Inc. (a) ...... 107,300 3,016,203 4,208,792 17,531,915

Oil, Gas & Consumable Fuels—4.3% Real Estate Management & Development—0.5% Antero Resources Corp. (a) ...... 161,900 2,433,357 Kennedy-Wilson Holdings, Inc...... 76,400 1,518,068 Arch Resources, Inc. (a) ...... 16,400 934,472 Realogy Holdings Corp. (a) ...... 72,500 1,320,950 Berry Corp...... 122,200 821,184 CNX Resources Corp. (a) ...... 41,700 569,622 2,839,018 CVR Energy, Inc. (b) ...... 53,800 966,248 Delek U.S. Holdings, Inc...... 46,029 995,147 Road & Rail—0.6% Dorian LPG, Ltd. (a) (b) ...... 41,500 585,980 ArcBest Corp...... 49,900 2,903,681 Falcon Minerals Corp...... 90,700 460,756 Covenant Logistics Group, Inc. (a) ...... 7,700 159,236 Green Plains, Inc. (a) ...... 52,800 1,775,136 Werner Enterprises, Inc...... 8,100 360,612 International Seaways, Inc. (b) ...... 14,300 274,274 3,423,529 Kosmos Energy, Ltd. (a) ...... 60,800 210,368 Magnolia Oil & Gas Corp. - Class A (a) (b) ...... 91,000 1,422,330 Semiconductors & Semiconductor Equipment—1.0% Ovintiv, Inc...... 143,900 4,528,533 Cohu, Inc. (a) ...... 32,000 1,177,280 PDC Energy, Inc. (b) ...... 50,300 2,303,237 SMART Global Holdings, Inc. (a) (b) ...... 81,900 3,904,992 Range Resources Corp. (a) (b) ...... 131,300 2,200,588 SunPower Corp. (a) (b) ...... 8,100 236,682 Renewable Energy Group, Inc. (a) ...... 16,400 1,022,376 Veeco Instruments, Inc. (a) (b) ...... 7,500 180,300 REX American Resources Corp. (a) ...... 7,600 685,368 Talos Energy, Inc. (a) ...... 16,600 259,624 5,499,254 W&T Offshore, Inc. (a) ...... 72,600 352,110 Software—1.0% 22,800,710 A10 Networks, Inc. (a) ...... 95,500 1,075,330

See accompanying notes to financial statements. BHFTI-242 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Software—(Continued) Water Utilities—0.6% eGain Corp. (a) ...... 81,800 $ 939,064 American States Water Co...... 37,800 $ 3,007,368 Ping Identity Holding Corp. (a) ...... 67,100 1,536,590 SecureWorks Corp. - Class A (a) ...... 15,151 280,748 Wireless Telecommunication Services—0.3% Vonage Holdings Corp (a) ...... 90,300 1,301,223 Gogo, Inc. (a) (b) ...... 125,700 1,430,466 5,132,955 Total Common Stocks (Cost $404,299,012) ...... 514,508,027 Specialty Retail—1.7% Abercrombie & Fitch Co. - Class A (a) (b) ...... 9,700 450,371 Bed Bath & Beyond, Inc. (a) ...... 37,700 1,255,033 Short-Term Investment—2.9% Caleres, Inc...... 55,400 1,511,866 Children’s Place, Inc. (The) (a) ...... 4,700 437,382 Repurchase Agreement—2.9% Genesco, Inc. (a) (b) ...... 7,900 503,072 Fixed Income Clearing Corp. Signet Jewelers, Ltd. (a) ...... 19,900 1,607,721 Repurchase Agreement dated 06/30/21 at 0.000%, due on Sleep Number Corp. (a) ...... 8,900 978,555 07/01/21 with a maturity value of $15,234,840; collateralized , Inc. - Class A (b) ...... 23,500 1,051,390 by U.S. Treasury Note at 0.375%, maturing 07/15/25, with a Zumiez, Inc. (a) ...... 24,700 1,210,053 market value of $15,539,558...... 15,234,840 15,234,840 9,005,443 Total Short-Term Investments (Cost $15,234,840) ...... 15,234,840 Technology Hardware, Storage & Peripherals—0.1% Diebold Nixdorf, Inc. (a) ...... 49,800 639,432 Securities Lending Reinvestments (c)—7.5%

Textiles, Apparel & Luxury Goods—0.8% Certificates of Deposit—0.4% G-III Apparel Group, Ltd. (a) (b) ...... 60,600 1,991,316 Agricultural Bank of China Kontoor Brands, Inc...... 25,800 1,455,378 0.100%, 07/01/21 ...... 100,000 100,000 Wolverine World Wide, Inc...... 30,700 1,032,748 Toronto-Dominion Bank 4,479,442 0.330%, 3M LIBOR + 0.130%, 07/02/21 (d) ...... 2,000,000 2,000,016 2,100,016 Thrifts & Mortgage Finance—3.4% Axos Financial, Inc. (a) ...... 28,900 1,340,671 Repurchase Agreements—4.3% Essent Group, Ltd...... 65,400 2,939,730 Barclays Bank plc HomeStreet, Inc...... 25,300 1,030,722 Repurchase Agreement dated 06/30/21 at 0.200%, due on Kearny Financial Corp. (b) ...... 53,800 642,910 07/01/21 with a maturity value of $2,900,016; collateralized Luther Burbank Corp...... 27,300 323,778 by various Common Stock with an aggregate market value of Meridian Bancorp, Inc...... 55,600 1,137,576 $3,222,469...... 2,900,000 2,900,000 MGIC Investment Corp...... 55,000 748,000 Repurchase Agreement dated 06/30/21 at 0.360%, due on Mr Cooper Group, Inc. (a) (b) ...... 29,400 971,964 08/04/21 with a maturity value of $4,001,400; collateralized NMI Holdings, Inc. - Class A (a) ...... 24,000 539,520 by various Common Stock with an aggregate market value of Northfield Bancorp, Inc...... 111,700 1,831,880 $4,445,338...... 4,000,000 4,000,000 PennyMac Financial Services, Inc...... 19,000 1,172,680 Barclays Capital, Inc. Premier Financial Corp...... 15,080 428,423 Repurchase Agreement dated 06/30/21 at 0.030%, due on Radian Group, Inc...... 112,900 2,512,025 07/01/21 with a maturity value of $658,773; collateralized , Inc...... 62,200 1,976,716 by U.S. Treasury Obligations at 0.000%, maturity dates ranging WSFS Financial Corp...... 15,162 706,397 from 05/15/29 - 11/15/43, and an aggregate market value of 18,302,992 $671,948...... 658,773 658,773 Cantor Fitzgerald & Co. Trading Companies & Distributors—1.6% Repurchase Agreement dated 06/30/21 at 0.050%, due on Boise Cascade Co...... 14,000 816,900 07/01/21 with a maturity value of $1,000,001; collateralized GMS, Inc. (a) ...... 45,300 2,180,742 by U.S. Government Agency Obligations with rates ranging from Herc Holdings, Inc. (a) ...... 11,821 1,324,779 0.920% - 7.500%, maturity dates ranging from 11/01/23 - MRC Global, Inc. (a) ...... 101,100 950,340 06/20/71, and an aggregate market value of $1,020,000. . . . 1,000,000 1,000,000 NOW, Inc. (a) ...... 235,000 2,230,150 Veritiv Corp. (a) ...... 17,500 1,074,850 8,577,761

See accompanying notes to financial statements. BHFTI-243 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Time Deposits—(Continued) Citigroup Global Markets, Inc. Rabobank (New York) Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.050%, 07/01/21 ...... 1,500,000 $ 1,500,000 08/04/21 with a maturity value of $500,209; collateralized Royal Bank of Canada by U.S. Treasury Obligations at 2.000%, maturing 11/30/22, 0.030%, 07/01/21 ...... 1,500,000 1,500,000 and various Common Stock with an aggregate market value of 5,700,000 $549,114...... 500,000 $ 500,000 Deutsche Bank AG, London Mutual Funds—1.7% Repurchase Agreement dated 06/30/21 at 0.170%, due on Fidelity Government Portfolio, Institutional Class 07/01/21 with a maturity value of $200,001; collateralized 0.010% (e) ...... 5,000,000 5,000,000 by U.S. Treasury and Foreign Obligations with rates ranging from Goldman Sachs Financial Square Government Fund, 0.000% - 3.375%, maturity dates ranging from 02/01/22 - Institutional Shares 03/11/31, and an aggregate market value of $204,000...... 200,000 200,000 0.020% (e) ...... 1,000,000 1,000,000 HSBC Bank plc Wells Fargo Government Money Market Fund, Select Class Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.030% (e) ...... 3,159,337 3,159,337 07/01/21 with a maturity value of $1,600,004; collateralized by U.S. Treasury Obligations with rates ranging from 0.099% - 9,159,337 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, Total Securities Lending Reinvestments and an aggregate market value of $1,632,658...... 1,600,000 1,600,000 (Cost $39,818,111) ...... 39,818,126 National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.210%, due on Total Investments—106.8% 07/07/21 with a maturity value of $5,000,204; collateralized (Cost $459,351,963) ...... 569,560,993 by various Common Stock with an aggregate market value of Other assets and liabilities (net)—(6.8)% ...... (36,105,558) $5,555,588...... 5,000,000 5,000,000 Net Assets—100.0% ...... $533,455,435 NBC Global Finance, Ltd. Repurchase Agreement dated 06/30/21 at 0.245%, due on 07/07/21 with a maturity value of $1,000,048; collateralized * Principal amount stated in U.S. dollars unless otherwise noted. by U.S. Treasury Obligations with rates ranging from 1.875% - (a) Non-income producing security. 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value and various Common Stock with an aggregate market value of of securities loaned was $38,247,264 and the collateral received consisted of cash in $1,111,111...... 1,000,000 1,000,000 the amount of $39,818,110 and non-cash collateral with a value of $1,804,598. The Repurchase Agreement dated 06/30/21 at 0.260%, due on cash collateral investments are disclosed in the Schedule of Investments and categorized 07/07/21 with a maturity value of $1,100,056; collateralized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. by U.S. Treasury Obligations with rates ranging from 2.125% - government securities that are held in safe-keeping by the lending agent, or a 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, third-party custodian, and cannot be sold or repledged by the Portfolio. As such, this and various Common Stock with an aggregate market value of collateral is excluded from the Statement of Assets and Liabilities. $1,222,438...... 1,100,000 1,100,000 (c) Represents investment of cash collateral received from securities on loan as of June 30, Societe Generale 2021. Repurchase Agreement dated 06/30/21 at 0.180%, due on (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 07/01/21 with a maturity value of $3,700,019; collateralized Maturity date shown for callable securities reflects the earliest possible call date. For by various Common Stock with an aggregate market value of securities based on a published reference index and spread, the index and spread are $4,111,197...... 3,700,000 3,700,000 indicated in the description above. For certain variable rate securities, the coupon rate is Repurchase Agreement dated 06/30/21 at 0.185%, due on determined by the issuer/agent based on current market conditions. For certain asset- 07/01/21 with a maturity value of $1,200,006; collateralized and mortgage-backed securities, the coupon rate may fluctuate based on changes of the by various Common Stock with an aggregate market value of underlying collateral or prepayments of principal. These securities do not indicate a $1,333,376...... 1,200,000 1,200,000 reference index and spread in their description above. (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. 22,858,773

Time Deposits—1.1% ABN AMRO Bank NV 0.080%, 07/01/21 ...... 1,500,000 1,500,000 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 200,000 200,000 National Bank of Canada 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 1,000,000 1,000,000

See accompanying notes to financial statements. BHFTI-244 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) Russell 2000 Index E-Mini Futures ...... 09/17/21 161 USD 18,577,790 $(201,592)

Glossary of Abbreviations

Currencies (USD)— United States Dollar

Index Abbreviations (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

See accompanying notes to financial statements. BHFTI-245 Brighthouse Funds Trust I JPMorgan Small Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $514,508,027 $ — $— $514,508,027 Total Short-Term Investment* ...... — 15,234,840 — 15,234,840 Securities Lending Reinvestments Certificates of Deposit ...... — 2,100,016 — 2,100,016 Repurchase Agreements ...... — 22,858,773 — 22,858,773 Time Deposits ...... — 5,700,000 — 5,700,000 Mutual Funds ...... 9,159,337 — — 9,159,337 Total Securities Lending Reinvestments ...... 9,159,337 30,658,789 — 39,818,126 Total Investments ...... $523,667,364 $ 45,893,629 $— $569,560,993 Collateral for Securities Loaned (Liability) ...... $ — $(39,818,110) $— $ (39,818,110) Futures Contracts Futures Contracts (Unrealized Depreciation) ...... $ (201,592) $ — $— $ (201,592)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-246 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—68.4% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—1.2% Internet & Direct Marketing Retail—(Continued) Northrop Grumman Corp...... 16,656 $ 6,053,290 Farfetch, Ltd. - Class A (a) ...... 117,190 $ 5,901,688 31,045,360 Banks—2.4% HDFC Bank, Ltd...... 231,976 4,675,729 IT Services—7.3% M&T Bank Corp...... 51,569 7,493,491 Accenture plc - Class A ...... 32,127 9,470,718 12,169,220 CGI, Inc. (a) ...... 36,000 3,263,988 MasterCard, Inc. - Class A ...... 34,253 12,505,428 Capital Markets—3.1% Nomura Research Institute, Ltd...... 180,000 5,956,692 Goldman Sachs Group, Inc. (The) ...... 9,627 3,653,735 VeriSign, Inc. (a) ...... 26,407 6,012,610 S&P Global, Inc...... 29,987 12,308,164 37,209,436 15,961,899 Leisure Products—2.0% Chemicals—3.9% Peloton Interactive, Inc. - Class A (a) ...... 81,866 10,153,021 Linde plc ...... 39,127 11,311,616 Sherwin-Williams Co. (The) ...... 31,411 8,557,927 Life Sciences Tools & Services—4.1% IQVIA Holdings, Inc. (a) ...... 57,511 13,936,065 19,869,543 Mettler-Toledo International, Inc. (a) ...... 4,990 6,912,847

Commercial Services & Supplies—0.8% 20,848,912 Copart, Inc. (a) ...... 31,587 4,164,114 Machinery—2.8% Atlas Copco AB - A Shares ...... 98,744 6,049,264 Electronic Equipment, Instruments & Components—0.7% Cummins, Inc...... 35,185 8,578,455 Halma plc ...... 91,607 3,414,556 14,627,719 Food & Staples Retailing—1.8% Costco Wholesale Corp...... 23,165 9,165,696 Personal Products—1.9% Estee Lauder Cos., Inc. (The) - Class A ...... 30,005 9,543,990 Health Care Equipment & Supplies—3.0% Danaher Corp...... 58,044 15,576,688 Semiconductors & Semiconductor Equipment—9.0% ASML Holding NV ...... 25,201 17,350,924 Health Care Providers & Services—2.1% NVIDIA Corp...... 12,667 10,134,867 UnitedHealth Group, Inc...... 27,646 11,070,564 Taiwan Semiconductor Manufacturing Co., Ltd...... 563,000 12,022,790 Texas Instruments, Inc...... 35,512 6,828,958 Hotels, Restaurants & Leisure—3.5% 46,337,539 Airbnb, Inc. - Class A (a) ...... 95,031 14,553,047 Vail Resorts, Inc...... 10,199 3,228,188 Software—2.4% 17,781,235 Dassault Systemes SE ...... 15,227 3,694,068 Descartes Systems Group, Inc. (The) (a) ...... 38,209 2,642,512 Industrial Conglomerates—2.1% Dropbox, Inc. - Class A (a) ...... 191,721 5,811,064 Roper Technologies, Inc...... 23,341 10,974,938 12,147,644

Insurance—0.7% Specialty Retail—1.6% AIA Group, Ltd...... 304,800 3,788,262 Home Depot, Inc. (The) ...... 25,896 8,257,975

Interactive Media & Services—5.1% Textiles, Apparel & Luxury Goods—0.8% Alphabet, Inc. - Class A (a) ...... 5,133 12,533,708 Canada Goose Holdings, Inc. (a) ...... 95,732 4,184,221 Alphabet, Inc. - Class C (a) ...... 646 1,619,083 Total Common Stocks Facebook, Inc. - Class A (a) ...... 34,371 11,951,140 (Cost $220,160,289) ...... 350,449,753 26,103,931

Internet & Direct Marketing Retail—6.1% Alibaba Group Holding, Ltd. (ADR) (a) ...... 41,593 9,432,461 Amazon.com, Inc. (a) ...... 4,567 15,711,211

See accompanying notes to financial statements. BHFTI-247 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—13.6%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Aerospace/Defense—0.3% Auto Manufacturers—(Continued) Boeing Co. (The) General Motors Financial of Canada, Ltd. 2.196%, 02/04/26 ...... 245,000 $ 247,342 3.250%, 11/07/23 (CAD) ...... 110,000 $ 92,771 3.100%, 05/01/26 ...... 20,000 21,143 Hyundai Capital America 3.250%, 02/01/35 ...... 5,000 5,056 0.875%, 06/14/24 (144A) ...... 350,000 348,298 3.550%, 03/01/38 ...... 20,000 20,541 2.650%, 02/10/25 (144A) ...... 110,000 115,058 3.625%, 03/01/48 ...... 5,000 4,996 2.750%, 09/27/26 (144A) ...... 500,000 523,228 3.750%, 02/01/50 ...... 15,000 15,472 6.375%, 04/08/30 (144A) ...... 175,000 226,875 3.850%, 11/01/48 ...... 85,000 87,226 Hyundai Capital Services, Inc. 3.950%, 08/01/59 ...... 85,000 88,930 3.750%, 03/05/23 (144A) ...... 260,000 272,827 Embraer Netherlands Finance B.V. Kia Corp. 5.050%, 06/15/25 ...... 370,000 390,775 1.750%, 10/16/26 (144A) ...... 200,000 201,789 TransDigm, Inc. 3.000%, 04/25/23 (144A) ...... 380,000 395,531 5.500%, 11/15/27 ...... 85,000 88,612 Nissan Motor Acceptance Corp. 7.500%, 03/15/27 ...... 5,000 5,319 3.650%, 09/21/21 (144A) ...... 230,000 231,526 8.000%, 12/15/25 (144A) ...... 340,000 367,370 Toyota Motor Corp. 1,342,782 2.362%, 03/25/31 ...... 305,000 317,798 3,935,870 Airlines—0.4% Air Canada Pass-Through Trust Auto Parts & Equipment—0.2% 3.300%, 01/15/30 (144A) ...... 200,560 202,904 Aptiv plc 4.125%, 12/15/27 (144A) ...... 132,806 131,084 1.600%, 09/15/28 (EUR) ...... 100,000 126,990 American Airlines Group, Inc. Goodyear Tire & Rubber Co. (The) 3.750%, 03/01/25 (144A) (b) ...... 10,000 9,213 7.000%, 03/15/28 ...... 724,000 829,335 American Airlines Pass-Through Trust 3.700%, 10/15/25 ...... 83,602 81,069 956,325 3.750%, 10/15/25 ...... 172,664 166,683 4.950%, 02/15/25 ...... 110,713 109,045 Banks—2.4% American Airlines, Inc. ANZ New Zealand International Ltd. 11.750%, 07/15/25 (144A) ...... 415,000 520,825 1.250%, 06/22/26 (144A) ...... 375,000 373,289 American Airlines, Inc./AAdvantage Loyalty IP, Ltd Banco Bilbao Vizcaya Argentaria S.A. 5.500%, 04/20/26 (144A) ...... 25,000 26,469 0.750%, 09/11/22 (EUR) ...... 400,000 480,513 5.750%, 04/20/29 (144A) ...... 30,000 32,437 Banco Bradesco S.A. Mileage Plus Holdings LLC / Mileage Plus Intellectual Property 2.850%, 01/27/23 (144A) ...... 200,000 204,002 Assets, Ltd. Banco Santander S.A. 6.500%, 06/20/27 (144A) ...... 285,000 313,785 3.125%, 02/23/23 ...... 200,000 208,336 U.S. Airways Pass-Through Trust Bank of America Corp. 5.900%, 10/01/24 ...... 38,924 40,671 0.523%, SOFR + 0.410%, 06/14/24 (c) ...... 255,000 254,946 United Airlines Pass-Through Trust Bank of Montreal 3.650%, 10/07/25 ...... 70,023 69,673 0.949%, SOFR + 0.603%, 01/22/27 (c) ...... 500,000 491,753 5.875%, 10/15/27 ...... 247,429 274,543 Bank of New Zealand United Airlines, Inc. 1.000%, 03/03/26 (144A) ...... 250,000 246,612 4.375%, 04/15/26 (144A) ...... 20,000 20,704 Bank of Nova Scotia (The) 4.625%, 04/15/29 (144A) ...... 30,000 31,050 1.050%, 03/02/26 ...... 295,000 291,863 2,030,155 1.900%, 12/02/21 (CAD) ...... 1,000,000 812,109 Barclays plc Auto Manufacturers—0.8% 3.650%, 03/16/25 ...... 225,000 243,626 Allison Transmission, Inc. BNP Paribas S.A. 4.750%, 10/01/27 (144A) ...... 105,000 109,071 4.625%, 03/13/27 (144A) ...... 355,000 400,606 BMW U.S. Capital LLC Cooperative Rabobank UA 3.150%, 04/18/24 (144A) ...... 195,000 207,983 4.375%, 08/04/25 ...... 350,000 390,806 4.150%, 04/09/30 (144A) ...... 200,000 233,269 Credit Agricole S.A. Ford Motor Co. 3.250%, 10/04/24 (144A) ...... 665,000 712,509 6.625%, 10/01/28 ...... 215,000 256,387 4.375%, 03/17/25 (144A) ...... 200,000 219,930 General Motors Co. Credit Suisse Group AG 5.200%, 04/01/45 ...... 265,000 327,532 3.091%, SOFR + 1.730%, 05/14/32 (144A) (c) ...... 250,000 257,563 6.250%, 10/02/43 ...... 55,000 75,927 4.194%, SOFR + 3.730%, 04/01/31 (144A) (c) ...... 250,000 280,957

See accompanying notes to financial statements. BHFTI-248 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Building Materials—(Continued) DNB Bank ASA Masco Corp. 1.535%, 1Y H15 + 0.720%, 05/25/27 (144A) (c) ...... 410,000 $ 410,746 6.500%, 08/15/32 ...... 8,000 $ 10,642 Goldman Sachs Group, Inc. 7.750%, 08/01/29 ...... 94,000 128,931 0.657%, SOFR + 0.505%, 09/10/24 (c) ...... 255,000 254,579 1,132,864 Industrial & Commercial Bank of China, Ltd. 2.957%, 11/08/22 ...... 250,000 257,228 Chemicals—0.2% ING Groep NV Braskem Netherlands Finance B.V. 1.400%, 1Y H15 + 1.100%, 07/01/26 (144A) (c) ...... 205,000 205,502 4.500%, 01/10/28 ...... 200,000 210,740 Itau Unibanco Holding S.A. 4.500%, 01/31/30 ...... 200,000 208,384 2.900%, 01/24/23 (144A) ...... 200,000 204,220 Ecolab, Inc. Kookmin Bank 4.800%, 03/24/30 ...... 20,000 24,468 1.375%, 05/06/26 (144A) ...... 315,000 315,312 LG Chem, Ltd. Kreditanstalt fuer Wiederaufbau 3.250%, 10/15/24 (144A) ...... 200,000 214,850 1.250%, 08/28/23 (NOK) ...... 4,220,000 493,928 Minerals Technologies, Inc. Lloyds Banking Group plc 5.000%, 07/01/28 (144A) ...... 125,000 129,962 3.870%, 1Y H15 + 3.500%, 07/09/25 (c) ...... 200,000 216,674 Orbia Advance Corp. S.A.B. de C.V. 4.500%, 11/04/24 ...... 200,000 221,245 1.875%, 05/11/26 (144A) ...... 210,000 212,415 Macquarie Group Ltd. 4.000%, 10/04/27 ...... 200,000 219,250 1.629%, SOFR + 0.910%, 09/23/27 (144A) (c) ...... 425,000 421,773 NatWest Markets plc 1,220,069 0.800%, 08/12/24 (144A) ...... 200,000 199,083 Nordea Bank Abp Commercial Services—0.2% 0.750%, 08/28/25 (144A) ...... 410,000 405,652 Adani Ports & Special Economic Zone, Ltd. Royal Bank of Canada 3.100%, 02/02/31 (144A) ...... 200,000 190,322 0.875%, 01/20/26 ...... 305,000 300,825 4.200%, 08/04/27 ...... 280,000 291,698 1.200%, 04/27/26 ...... 235,000 234,838 Edenred 2.250%, 11/01/24 ...... 350,000 366,771 1.875%, 03/06/26 (EUR) ...... 200,000 256,701 Santander Holdings U.S.A., Inc. Holding d’Infrastructures de Transport SAS 3.450%, 06/02/25 ...... 100,000 107,462 0.625%, 03/27/23 (EUR) ...... 100,000 119,823 Societe Generale S.A. 1.625%, 11/27/27 (EUR) ...... 100,000 126,144 4.750%, 11/24/25 (144A) ...... 260,000 289,914 Square, Inc. Standard Chartered plc 3.500%, 06/01/31 (144A) ...... 55,000 55,481 3.125%, 11/19/24 (EUR) ...... 250,000 326,234 TriNet Group, Inc. TC Ziraat Bankasi AS 3.500%, 03/01/29 (144A) ...... 85,000 83,810 5.375%, 03/02/26 (144A) ...... 250,000 245,625 1,123,979 Toronto-Dominion Bank (The) 3.500%, 07/19/23 ...... 335,000 356,090 Cosmetics/Personal Care—0.0% UniCredit S.p.A. Avon Products, Inc. 7.296%, 5Y USD ICE Swap + 8.450%, 03/15/43 ...... 40,000 51,874 4.914%, 04/02/34 (144A) (c) ...... 325,000 390,754 Westpac Banking Corp. Diversified Financial Services—0.9% 2.650%, 01/16/30 ...... 400,000 428,056 Aircastle, Ltd. 12,521,931 5.250%, 5Y H15 + 4.410%, 06/15/26 (144A) (c) ...... 35,000 35,350 Ally Financial, Inc. Beverages—0.1% 4.700%, 5Y H15 + 3.868%, 05/15/26 (b) (c) ...... 125,000 129,463 Anheuser-Busch InBev S.A. 4.700%, 7Y H15 + 3.481%, 05/15/28 (c) ...... 105,000 106,344 2.000%, 01/23/35 (EUR) ...... 345,000 455,801 Antares Holdings L.P. Diageo Capital plc 6.000%, 08/15/23 (144A) (b) ...... 255,000 276,205 BOC Aviation, Ltd. 2.125%, 04/29/32 ...... 200,000 200,846 2.750%, 09/18/22 (144A) ...... 210,000 213,751 656,647 Brookfield Finance, Inc. 3.900%, 01/25/28 ...... 185,000 206,455 Building Materials—0.2% Nationstar Mortgage Holdings, Inc. JELD-WEN, Inc. 5.500%, 08/15/28 (144A) ...... 130,000 131,057 4.625%, 12/15/25 (144A) ...... 975,000 993,291 Navient Corp. 5.625%, 08/01/33 ...... 755,000 729,926

See accompanying notes to financial statements. BHFTI-249 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Diversified Financial Services—(Continued) Entertainment—0.0% OneMain Finance Corp. Everi Holdings, Inc. 5.625%, 03/15/23 ...... 135,000 $ 143,944 5.000%, 07/15/29 (144A) ...... 10,000 $ 10,250 8.250%, 10/01/23 ...... 65,000 73,125 Penn National Gaming, Inc. Power Finance Corp., Ltd. 4.125%, 07/01/29 (144A) ...... 35,000 34,956 3.950%, 04/23/30 (144A) ...... 200,000 205,751 Scientific Games International, Inc. Quicken Loans LLC 7.000%, 05/15/28 (144A) ...... 110,000 120,142 5.250%, 01/15/28 (144A) ...... 70,000 73,500 7.250%, 11/15/29 (144A) ...... 60,000 67,680 Quicken Loans LLC / Quicken Loans Co-Issuer, Inc. 233,028 3.625%, 03/01/29 (144A) ...... 515,000 508,562 3.875%, 03/01/31 (144A) ...... 1,010,000 1,017,565 Food—0.3% Unifin Financiera S.A.B. de C.V. BRF S.A. 7.250%, 09/27/23 ...... 245,000 241,325 4.875%, 01/24/30 ...... 365,000 383,250 9.875%, 01/28/29 (b) ...... 250,000 248,198 Fonterra Co-operative Group, Ltd. 4,340,521 5.500%, 02/26/24 (AUD) ...... 500,000 422,133 JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc. Electric—0.5% 3.750%, 12/01/31 (144A) ...... 80,000 81,860 AES Corp. (The) Kraft Heinz Foods Co. 3.950%, 07/15/30 (144A) ...... 20,000 21,870 4.375%, 06/01/46 ...... 295,000 334,294 Colbun S.A. 5.500%, 06/01/50 ...... 165,000 214,129 3.150%, 03/06/30 ...... 295,000 300,531 Sigma Alimentos S.A. de C.V. Edison International 4.125%, 05/02/26 ...... 200,000 218,000 4.950%, 04/15/25 ...... 20,000 22,143 1,653,666 EDP Finance B.V. 1.710%, 01/24/28 (144A) ...... 205,000 203,059 Forest Products & Paper—0.2% Empresas Publicas de Medellin E.S.P. Celulosa Arauco y Constitucion S.A. 4.250%, 07/18/29 (144A) ...... 200,000 198,000 4.500%, 08/01/24 (b) ...... 200,000 215,662 Enel Chile S.A. Inversiones CMPC S.A. 4.875%, 06/12/28 ...... 110,000 126,862 4.375%, 05/15/23 (144A) ...... 400,000 419,404 Engie Energia Chile S.A. Suzano Austria GmbH 3.400%, 01/28/30 ...... 305,000 312,625 3.125%, 01/15/32 ...... 125,000 123,796 Engie S.A. 3.750%, 01/15/31 ...... 60,000 62,925 1.250%, 10/24/41 (EUR) ...... 200,000 244,173 Korea East-West Power Co., Ltd. 821,787 1.750%, 05/06/25 (144A) ...... 200,000 204,148 Naturgy Finance B.V. Healthcare-Products—0.1% 1.500%, 01/29/28 (EUR) ...... 200,000 255,468 DH Europe Finance II S.a.r.l. NRG Energy, Inc. 0.750%, 09/18/31 (EUR) ...... 140,000 166,047 3.625%, 02/15/31 (144A) ...... 80,000 78,616 Medtronic Global Holdings Co. Pacific Gas and Electric Co. 1.125%, 03/07/27 (EUR) ...... 105,000 131,370 3.500%, 08/01/50 ...... 130,000 115,864 297,417 3.950%, 12/01/47 ...... 175,000 162,761 Transelec S.A. Healthcare-Services—0.1% 4.250%, 01/14/25 (144A) ...... 460,000 499,335 Catalent Pharma Solutions, Inc. 2,745,455 3.125%, 02/15/29 (144A) ...... 30,000 29,051 Centene Corp. Engineering & Construction—0.1% 2.500%, 03/01/31 ...... 275,000 271,219 Cellnex Telecom S.A. 3.000%, 10/15/30 ...... 115,000 118,137 1.750%, 10/23/30 (EUR) ...... 400,000 471,952 Charles River Laboratories International, Inc. Sydney Airport Finance Co. Pty, Ltd. 3.750%, 03/15/29 (144A) ...... 20,000 20,275 3.375%, 04/30/25 (144A) ...... 40,000 42,787 4.000%, 03/15/31 (144A) ...... 20,000 20,807 Tenet Healthcare Corp. 514,739 6.875%, 11/15/31 ...... 130,000 147,550 607,039

See accompanying notes to financial statements. BHFTI-250 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Holding Companies-Diversified—0.1% Leisure Time—0.3% CK Hutchison International 19, Ltd. Carnival Corp. 3.625%, 04/11/29 (144A) (b) ...... 225,000 $ 249,158 5.750%, 03/01/27 (144A) ...... 500,000 $ 523,750 NCL Corp., Ltd. Home Builders—0.0% 5.875%, 03/15/26 (144A) ...... 425,000 445,187 Beazer Homes USA, Inc. NCL Finance, Ltd. 7.250%, 10/15/29 ...... 120,000 133,238 6.125%, 03/15/28 (144A) ...... 85,000 89,076 Royal Caribbean Cruises, Ltd. Insurance—0.2% 4.250%, 07/01/26 (144A) ...... 50,000 49,938 AIA Group, Ltd. 5.500%, 04/01/28 (144A) (b) ...... 450,000 471,285 3.200%, 03/11/25 (144A) ...... 200,000 212,566 1,579,236 3.600%, 04/09/29 ...... 200,000 221,438 3.900%, 04/06/28 (144A) ...... 260,000 291,634 Lodging—0.1% Athene Global Funding Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand 1.608%, 06/29/26 (144A) ...... 100,000 100,011 Radian Group, Inc. Vacations Borrower ESC 6.625%, 03/15/25 ...... 130,000 146,704 4.875%, 07/01/31 (144A) ...... 65,000 64,830 5.000%, 06/01/29 (144A) ...... 50,000 51,125 972,353 Marriott Ownership Resorts, Inc. 4.500%, 06/15/29 (144A) ...... 90,000 91,237 Internet—0.7% Travel + Leisure Co. Alibaba Group Holding, Ltd. 4.625%, 03/01/30 (144A) ...... 65,000 66,995 3.400%, 12/06/27 ...... 240,000 262,251 6.000%, 04/01/27 ...... 10,000 10,986 Baidu, Inc. 6.625%, 07/31/26 (144A) ...... 10,000 11,330 3.875%, 09/29/23 ...... 200,000 212,524 Expedia Group, Inc. 296,503 2.950%, 03/15/31 ...... 400,000 405,326 Go Daddy Operating Co. LLC / GD Finance Co., Inc. Machinery-Diversified—0.0% 3.500%, 03/01/29 (144A) ...... 95,000 94,382 John Deere Capital Corp. Netflix, Inc. 0.450%, 06/07/24 ...... 125,000 124,609 4.875%, 04/15/28 ...... 90,000 104,625 4.875%, 06/15/30 (144A) ...... 235,000 279,485 Media—0.8% 5.375%, 11/15/29 (144A) ...... 25,000 30,365 AMC Networks, Inc. Tencent Holdings, Ltd. 4.250%, 02/15/29 ...... 45,000 45,394 2.985%, 01/19/23 (144A) ...... 200,000 206,894 Cable Onda S.A. 3.280%, 04/11/24 (144A) ...... 200,000 213,000 4.500%, 01/30/30 (144A) ...... 200,000 210,880 Uber Technologies, Inc. CCO Holdings LLC / CCO Holdings Capital Corp. 6.250%, 01/15/28 (144A) (b) ...... 1,175,000 1,264,547 4.250%, 02/01/31 (144A) ...... 1,045,000 1,064,594 7.500%, 09/15/27 (144A) ...... 120,000 131,878 Charter Communications Operating LLC / Charter Weibo Corp. Communications Operating Capital Corp. 3.500%, 07/05/24 ...... 200,000 210,844 4.400%, 12/01/61 ...... 680,000 730,650 3,416,121 Clear Channel Worldwide Holdings, Inc. 5.125%, 08/15/27 (144A) ...... 130,000 133,279 Investment Companies—0.6% CSC Holdings LLC Icahn Enterprises L.P. / Icahn Enterprises Finance Corp. 5.375%, 02/01/28 (144A) ...... 200,000 211,590 4.375%, 02/01/29 (144A) ...... 1,625,000 1,616,875 DISH DBS Corp. Owl Rock Capital Corp. 5.125%, 06/01/29 (144A) ...... 75,000 74,057 2.875%, 06/11/28 ...... 270,000 267,974 5.875%, 11/15/24 ...... 475,000 510,031 4.250%, 01/15/26 ...... 480,000 518,567 Grupo Televisa S.A.B. Owl Rock Technology Finance Corp. 7.250%, 05/14/43 (MXN) ...... 6,000,000 218,942 2.500%, 01/15/27 ...... 160,000 157,962 iHeartCommunications, Inc. 4.750%, 12/15/25 (144A) ...... 230,000 252,864 4.750%, 01/15/28 (144A) ...... 120,000 123,450 5.250%, 08/15/27 (144A) ...... 70,000 73,178 2,814,242 8.375%, 05/01/27 ...... 235,000 251,744 Time Warner Cable LLC Iron/Steel—0.0% 4.500%, 09/15/42 ...... 45,000 50,020 Arcelor Mittal 5.500%, 09/01/41 ...... 30,000 37,184 7.000%, 05/01/41 ...... 95,000 131,950

See accompanying notes to financial statements. BHFTI-251 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Media—(Continued) Oil & Gas—(Continued) Videotron, Ltd. Petrobras Global Finance B.V. 5.125%, 04/15/27 (144A) ...... 230,000 $ 240,350 5.999%, 01/27/28 ...... 315,000 $ 361,462 3,975,343 Petroleos Mexicanos 5.950%, 01/28/31 ...... 450,000 437,175 Mining—0.6% Qatar Petroleum Anglo American Capital plc 2.250%, 07/12/31 (144A) ...... 305,000 301,758 2.625%, 09/10/30 (144A) ...... 200,000 200,757 Raizen Fuels Finance S.A. 5.625%, 04/01/30 (144A) ...... 200,000 244,705 5.300%, 01/20/27 (144A) ...... 200,000 225,910 Corp. Nacional del Cobre de Chile Range Resources Corp. 3.000%, 09/30/29 (144A) ...... 285,000 296,015 4.875%, 05/15/25 ...... 130,000 134,550 FMG Resources Pty, Ltd. 5.000%, 03/15/23 ...... 86,000 89,010 4.375%, 04/01/31 (144A) ...... 85,000 90,936 Thaioil Treasury Center Co., Ltd. Freeport-McMoRan, Inc. 3.625%, 01/23/23 (144A) (b) ...... 350,000 362,264 4.375%, 08/01/28 ...... 325,000 343,281 3,920,380 5.400%, 11/14/34 ...... 745,000 899,815 5.450%, 03/15/43 ...... 310,000 378,919 Packaging & Containers—0.0% Glencore Funding LLC Silgan Holdings, Inc. 1.625%, 09/01/25 (144A) ...... 410,000 414,661 3.250%, 03/15/25 (EUR) ...... 100,000 119,464 Novelis Corp. 4.750%, 01/30/30 (144A) ...... 50,000 52,500 Pharmaceuticals—0.5% 2,921,589 Teva Pharmaceutical Finance Co. LLC 6.150%, 02/01/36 (b) ...... 250,000 275,000 Multi-National—0.2% Teva Pharmaceutical Finance Netherlands III B.V. International Bank for Reconstruction & Development 3.150%, 10/01/26 ...... 455,000 432,819 2.200%, 01/18/22 (CAD) ...... 640,000 521,593 4.100%, 10/01/46 (b) ...... 2,080,000 1,822,600 Nordic Investment Bank 2,530,419 1.500%, 03/13/25 (NOK) ...... 4,930,000 577,778 1,099,371 Pipelines—0.2% Abu Dhabi Crude Oil Pipeline LLC Oil & Gas—0.8% 3.650%, 11/02/29 ...... 385,000 428,340 BP Capital Markets America, Inc. Enbridge Energy Partners L.P. 3.216%, 11/28/23 ...... 175,000 185,301 7.375%, 10/15/45 ...... 90,000 141,212 Continental Resources, Inc. Enbridge, Inc. 3.800%, 06/01/24 ...... 30,000 31,725 2.900%, 07/15/22 ...... 125,000 128,000 5.750%, 01/15/31 (144A) ...... 85,000 101,788 EnLink Midstream Partners L.P. Cosan Luxembourg S.A. 5.450%, 06/01/47 ...... 60,000 53,250 5.000%, 03/14/23 (144A) ...... 200,000 200,300 MPLX L.P. Ecopetrol S.A. 4.500%, 07/15/23 ...... 10,000 10,696 5.875%, 05/28/45 ...... 325,000 348,237 4.875%, 06/01/25 ...... 40,000 45,153 EQT Corp. 806,651 3.125%, 05/15/26 (144A) ...... 10,000 10,247 3.625%, 05/15/31 (144A) ...... 15,000 15,638 Real Estate—0.0% Equinor ASA Goodman Australia Industrial Fund Bond Issuer Pty, Ltd. 3.625%, 04/06/40 ...... 355,000 404,728 3.400%, 09/30/26 (144A) ...... 215,000 233,959 Occidental Petroleum Corp. 6.625%, 09/01/30 (b) ...... 280,000 336,000 Real Estate Investment Trusts—0.2% 8.875%, 07/15/30 ...... 220,000 294,226 Iron Mountain, Inc. Ovintiv, Inc. 4.875%, 09/15/29 (144A) ...... 125,000 129,025 6.500%, 08/15/34 ...... 10,000 13,201 Prologis Euro Finance LLC 6.500%, 02/01/38 ...... 5,000 6,657 0.250%, 09/10/27 (EUR) ...... 320,000 379,768 6.625%, 08/15/37 ...... 25,000 33,357 0.375%, 02/06/28 (EUR) ...... 110,000 131,415 7.200%, 11/01/31 ...... 5,000 6,579 Prologis L.P. 7.375%, 11/01/31 ...... 5,000 6,639 2.250%, 06/30/29 (GBP) ...... 135,000 198,717 8.125%, 09/15/30 ...... 10,000 13,628

See accompanying notes to financial statements. BHFTI-252 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate Investment Trusts—(Continued) Telecommunications—(Continued) Realty Income Corp. T-Mobile USA, Inc. 1.625%, 12/15/30 (GBP) ...... 125,000 $ 171,018 3.375%, 04/15/29 ...... 760,000 $ 784,315 SBA Communications Corp. 3.500%, 04/15/31 ...... 425,000 439,684 3.125%, 02/01/29 (144A) ...... 155,000 149,430 3.875%, 04/15/30 ...... 355,000 396,826 1,159,373 Telefonica Emisiones S.A. 1.495%, 09/11/25 (EUR) ...... 200,000 251,277 Retail—0.1% Turk Telekomunikasyon 1011778 BC ULC / New Red Finance, Inc. 6.875%, 02/28/25 ...... 360,000 397,138 4.000%, 10/15/30 (144A) ...... 80,000 77,400 Turkcell Iletisim Hizmetleri AS Carvana Co. 5.800%, 04/11/28 ...... 215,000 228,767 5.500%, 04/15/27 (144A) ...... 180,000 185,892 5,638,460 Lithia Motors, Inc. Total Corporate Bonds & Notes 3.875%, 06/01/29 (144A) ...... 35,000 36,279 (Cost $65,701,074) ...... 69,466,988 Walmart, Inc. 3.700%, 06/26/28 ...... 235,000 267,511 Yum! Brands, Inc. Foreign Government—9.4% 4.625%, 01/31/32 ...... 175,000 183,750 Banks—0.1% 750,832 Corp. Financiera de Desarrollo S.A. Semiconductors—0.1% 2.400%, 09/28/27 (144A) ...... 365,000 358,065 Broadcom, Inc. Gas—0.1% 5.000%, 04/15/30 ...... 85,000 100,281 Korea Gas Corp. SK Hynix, Inc. 2.750%, 07/20/22 (144A) ...... 260,000 266,009 2.375%, 01/19/31 (144A) ...... 300,000 292,119 Skyworks Solutions, Inc. Regional Government—0.2% 1.800%, 06/01/26 ...... 15,000 15,189 New South Wales Treasury Corp. 407,589 2.000%, 03/08/33 (AUD) ...... 1,480,000 1,112,381 Province of Quebec Canada Telecommunications—1.1% 2.300%, 09/01/29 (CAD) ...... 310,000 260,446 America Movil S.A.B. de C.V. 1,372,827 2.125%, 03/10/28 (EUR) ...... 235,000 308,996 2.875%, 05/07/30 ...... 200,000 210,799 Sovereign—8.9% AT&T, Inc. Australia Government Bond 3.500%, 09/15/53 (144A) ...... 55,000 55,257 5.500%, 04/21/23 (AUD) ...... 950,000 782,103 3.650%, 09/15/59 (144A) ...... 147,000 149,073 Brazil Notas do Tesouro Nacional 3.800%, 12/01/57 (144A) ...... 90,000 93,769 10.000%, 01/01/31 (BRL) ...... 2,451,000 495,387 British Telecommunications plc Brazilian Government International Bonds 3.250%, 11/08/29 (144A) ...... 200,000 212,343 4.500%, 05/30/29 ...... 340,000 363,317 Cincinnati Bell, Inc. 4.625%, 01/13/28 ...... 290,000 313,267 8.000%, 10/15/25 (144A) ...... 15,000 15,769 Canadian Government Bonds CommScope Technologies LLC 0.500%, 09/01/25 (CAD) ...... 3,600,000 2,858,625 5.000%, 03/15/27 (144A) ...... 580,000 593,775 0.500%, 03/01/22 (CAD) ...... 535,000 432,437 KT Corp. 0.750%, 09/01/21 (CAD) ...... 3,205,000 2,588,175 2.500%, 07/18/26 (144A) ...... 210,000 220,215 Chile Government International Bond Millicom International Cellular S.A. 2.550%, 01/27/32 (b) ...... 350,000 357,700 6.250%, 03/25/29 (144A) ...... 180,000 196,803 China Government Bonds 6.625%, 10/15/26 ...... 180,000 190,350 2.200%, 07/27/25 (CNY) ...... 11,000,000 1,676,051 MTN Mauritius Investments, Ltd. 3.390%, 05/21/25 (CNY) ...... 1,000,000 159,265 4.755%, 11/11/24 ...... 200,000 213,458 3.900%, 07/04/36 (CNY) ...... 3,000,000 505,716 4.755%, 11/11/24 (144A) ...... 400,000 426,916 4.000%, 11/30/35 (CNY) ...... 7,500,000 1,281,504 Ooredoo International Finance, Ltd. Colombia Government International Bond 2.625%, 04/08/31 (144A) ...... 250,000 252,930 3.875%, 04/25/27 ...... 200,000 212,366

See accompanying notes to financial statements. BHFTI-253 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Sovereign—(Continued) Sovereign—(Continued) Colombian TES Mexico Government International Bonds 6.250%, 11/26/25 (COP) ...... 1,305,500,000 $ 352,705 3.250%, 04/16/30 ...... 335,000 $ 345,874 7.500%, 08/26/26 (COP) ...... 4,868,600,000 1,373,463 4.000%, 03/15/15 (EUR) ...... 100,000 127,886 Dominican Republic International Bonds New Zealand Government Bond 4.500%, 01/30/30 (144A) ...... 235,000 240,290 1.500%, 05/15/31 (NZD) ...... 690,000 470,267 4.875%, 09/23/32 (144A) ...... 150,000 154,500 3.000%, 04/20/29 (NZD) ...... 455,000 352,050 6.000%, 07/19/28 (144A) ...... 200,000 227,300 Norway Government Bond 8.625%, 04/20/27 (144A) ...... 200,000 245,180 2.000%, 05/24/23 (144A) (NOK) ...... 1,477,000 175,898 Egypt Government International Bonds Paraguay Government International Bond 5.250%, 10/06/25 ...... 200,000 210,760 4.950%, 04/28/31 (144A) ...... 200,000 229,502 7.625%, 05/29/32 ...... 200,000 212,020 Peruvian Government International Bond Export Development Canada 2.392%, 01/23/26 ...... 125,000 129,007 1.800%, 09/01/22 (CAD) ...... 250,000 204,971 Republic of Italy Government International Bond Export-Import Bank of India 2.375%, 10/17/24 ...... 280,000 290,973 2.250%, 01/13/31 (144A) (b) ...... 310,000 286,991 Republic of Poland Government Bonds Export-Import Bank of Korea 1.250%, 10/25/30 (PLN) ...... 3,000,000 761,711 3.000%, 11/01/22 ...... 200,000 206,706 3.250%, 07/25/25 (PLN) ...... 1,445,000 412,589 6.750%, 08/09/22 (INR) ...... 17,900,000 244,768 Republic of South Africa Government International Bond 6.900%, 02/07/23 (INR) ...... 70,500,000 967,442 5.750%, 09/30/49 (b) ...... 965,000 986,172 French Republic Government Bond OAT Romania Government Bond 4.250%, 10/25/23 (EUR) ...... 390,000 515,329 4.150%, 10/24/30 (RON) ...... 3,345,000 853,689 Indonesia Government International Bonds Romanian Government International Bond 2.850%, 02/14/30 ...... 200,000 207,359 2.000%, 04/14/33 (144A) (EUR) ...... 120,000 141,102 2.875%, 07/08/21 (144A) (EUR) ...... 220,000 260,985 Singapore Government Bonds 4.125%, 01/15/25 (144A) ...... 200,000 220,701 2.125%, 06/01/26 (SGD) ...... 1,120,000 880,433 4.200%, 10/15/50 ...... 200,000 227,550 2.750%, 07/01/23 (SGD) ...... 515,000 400,219 4.750%, 01/08/26 ...... 200,000 228,293 South Africa Government Bonds 4.750%, 01/08/26 (144A) ...... 200,000 228,293 7.000%, 02/28/31 (ZAR) ...... 11,655,000 700,198 Indonesia Treasury Bonds 8.875%, 02/28/35 (ZAR) ...... 5,960,000 378,843 7.000%, 09/15/30 (IDR) ...... 5,500,000,000 391,695 Spain Government Bonds 7.500%, 05/15/38 (IDR) ...... 6,358,000,000 448,787 0.750%, 07/30/21 (EUR) ...... 185,000 219,577 Ireland Government Bond 1.600%, 04/30/25 (144A) (EUR) ...... 180,000 229,633 Zero Coupon, 10/18/31 (EUR) ...... 405,000 472,156 1.950%, 07/30/30 (144A) (EUR) ...... 310,000 421,626 3.400%, 03/18/24 (EUR) ...... 65,000 85,360 2.700%, 10/31/48 (144A) (EUR) ...... 265,000 412,101 Israel Government Bond - Fixed 4.400%, 10/31/23 (144A) (EUR) ...... 525,000 694,099 1.000%, 03/31/30 (ILS) ...... 2,675,000 812,806 Sweden Government Bond Italy Buoni Poliennali Del Tesoro 0.125%, 05/12/31 (144A) (SEK) ...... 4,200,000 479,287 1.350%, 04/01/30 (EUR) ...... 895,000 1,124,017 Turkey Government International Bonds 2.000%, 02/01/28 (EUR) ...... 325,000 426,095 5.250%, 03/13/30 ...... 950,000 900,646 2.500%, 11/15/25 (EUR) ...... 605,000 795,431 7.625%, 04/26/29 ...... 200,000 218,940 Japan Government Thirty Year Bond United Kingdom Gilt 0.500%, 03/20/49 (JPY) ...... 335,000,000 2,903,956 1.500%, 07/22/26 (GBP) ...... 640,000 936,066 Japanese Government CPI Linked Bond 2.750%, 09/07/24 (GBP) ...... 215,000 321,533 0.100%, 03/10/28 (JPY) (d) ...... 84,246,490 777,287 4.250%, 06/07/32 (GBP) ...... 125,000 234,314 Korea Treasury Bonds Uruguay Government International Bond 0.875%, 12/10/23 (KRW) ...... 500,000,000 438,391 8.250%, 05/21/31 (UYU) ...... 9,950,000 231,365 1.125%, 09/10/25 (KRW) ...... 500,000,000 433,547 4.375%, 01/23/31 ...... 170,000 197,797 1.500%, 12/10/30 (KRW) ...... 1,120,530,000 944,325 45,678,788 2.000%, 09/10/22 (KRW) ...... 380,000,000 341,119 Malaysia Government Bond Transportation—0.1% 3.480%, 03/15/23 (MYR) ...... 3,295,000 814,061 Network Rail Infrastructure Finance plc Mexican Bonos 4.750%, 01/22/24 (GBP) ...... 235,000 361,503 5.750%, 03/05/26 (MXN) ...... 24,011,500 1,171,112 7.500%, 06/03/27 (MXN) ...... 8,252,400 431,448 Total Foreign Government 8.000%, 12/07/23 (MXN) ...... 1,835,000 96,437 (Cost $47,147,338) ...... 48,037,192 8.500%, 05/31/29 (MXN) ...... 14,420,800 795,842

See accompanying notes to financial statements. BHFTI-254 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—4.5%

Principal Principal Amount*/ Security Description Amount* Value Security Description Shares Value

U.S. Treasury—4.5% Media—0.6% U.S. Treasury Inflation Indexed Notes DISH Network Corp. 0.125%, 04/15/22 (d) ...... 252,496 $ 258,999 Zero Coupon, 12/15/25 (144A) ...... 580,000 $ 675,410 0.375%, 07/15/27 (d) ...... 1,113,248 1,241,446 3.375%, 08/15/26 ...... 2,320,000 2,367,560 0.625%, 04/15/23 (d) ...... 2,525,874 2,671,852 3,042,970 U.S. Treasury Notes 0.125%, 01/31/23 ...... 2,170,000 2,167,881 Software—0.0% 0.125%, 03/31/23 ...... 2,715,000 2,710,864 Splunk, Inc. 0.125%, 04/30/23 ...... 2,030,000 2,026,194 1.125%, 06/15/27 ...... 30,000 29,231 0.125%, 05/31/23 ...... 2,445,000 2,439,747 0.125%, 12/15/23 ...... 3,550,000 3,531,279 Total Convertible Bonds 0.750%, 03/31/26 (b) ...... 6,085,000 6,057,665 (Cost $8,922,389) ...... 9,069,225 Total U.S. Treasury & Government Agencies (Cost $22,291,098) ...... 23,105,927 Municipals—0.1% Tobacco Settlement Financing Corp. Convertible Bonds—1.8% 6.706%, 06/01/46 (Cost $644,820) ...... 645,000 677,560 Airlines—0.1% JetBlue Airways Corp. Convertible Preferred Stock—0.1% 0.500%, 04/01/26 ...... 35,000 34,878 Southwest Airlines Co. Pipelines—0.1% 1.250%, 05/01/25 ...... 155,000 234,728 El Paso Energy Capital Trust I 269,606 4.750%, 03/31/28 (Cost $264,976) ...... 5,754 289,139 Biotechnology—0.5% BioMarin Pharmaceutical, Inc. 0.599%, 08/01/24 ...... 2,110,000 2,186,593 Floating Rate Loans (e)—0.0% Ionis Pharmaceuticals, Inc. Zero Coupon, 04/01/26 ...... 85,000 83,275 Lodging—0.0% Livongo Health, Inc. Hilton Grand Vacations Borrower LLC 0.875%, 06/01/25 ...... 150,000 236,718 Term Loan, 05/19/28 (f) ...... 56,833 56,930

2,506,586 Pharmaceuticals—0.0% Jazz Financing Lux S.a.r.l. Healthcare-Services—0.2% Term Loan, 04/22/28 (f) ...... 48,000 48,236 Teladoc Health, Inc. 1.250%, 06/01/27 ...... 1,005,000 1,124,997 Total Floating Rate Loans (Cost $104,309) ...... 105,166 Internet—0.4% Expedia Group, Inc. Mortgage-Backed Securities—0.0% Zero Coupon, 02/15/26 (b) ...... 460,000 496,800 Palo Alto Networks, Inc. Commercial Mortgage-Backed Securities—0.0% 0.375%, 06/01/25 ...... 770,000 1,047,200 Institutional Mortgage Securities Canada, Inc. Twitter, Inc. 2.616%, 07/12/47 (144A) (CAD) ...... 84,007 69,151 Zero Coupon, 03/15/26 ...... 115,000 109,681 Uber Technologies, Inc. Total Mortgage-Backed Securities Zero Coupon, 12/15/25 ...... 355,000 359,970 (Cost $78,394) ...... 69,151 2,013,651

Leisure Time—0.0% Peloton Interactive, Inc. Zero Coupon, 02/15/26 ...... 85,000 82,184

See accompanying notes to financial statements. BHFTI-255 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Short-Term Investment—2.1%

Principal Shares/ Security Description Amount* Value Principal Security Description Amount* Value Repurchase Agreement—2.1% Fixed Income Clearing Corp. Time Deposit—0.0% Repurchase Agreement dated 06/30/21 at 0.000%, Landesbank Baden-Wuettertemberg (London) due on 07/01/21 with a maturity value of $10,948,304; 0.130%, 07/01/21 ...... 31,647 $ 31,647 collateralized by U.S. Treasury Note at 0.375%, maturing 04/15/24, with a market value of $11,167,362...... 10,948,304 $ 10,948,304 Mutual Funds—0.4% Total Short-Term Investments Fidelity Government Portfolio, Institutional Class (Cost $10,948,304) ...... 10,948,304 0.010% (h) ...... 750,000 750,000 Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares Securities Lending Reinvestments (g)—0.8% 0.030% (h) ...... 750,000 750,000 Wells Fargo Government Money Market Fund, Select Class Certificate of Deposit—0.0% 0.030% (h) ...... 500,000 500,000 Agricultural Bank of China 2,000,000 0.100%, 07/01/21 ...... 39,630 39,630 Total Securities Lending Reinvestments Repurchase Agreements—0.4% (Cost $3,994,781) ...... 3,994,781 Barclays Bank plc Total Investments—100.8% Repurchase Agreement dated 06/30/21 at 0.200%, (Cost $380,257,772) ...... 516,213,186 due on 07/01/21 with a maturity value of $100,001; Other assets and liabilities (net)—(0.8)% ...... (4,105,822) collateralized by various Common Stock with an aggregate market value of $111,120...... 100,000 100,000 Net Assets—100.0% ...... $512,107,364 Barclays Capital, Inc. Repurchase Agreement dated 06/30/21 at 0.030%, * Principal amount stated in U.S. dollars unless otherwise noted. due on 07/01/21 with a maturity value of $878,853; (a) Non-income producing security. collateralized by U.S. Treasury Obligations at 0.000%, (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value maturity dates ranging from 05/15/29 - 11/15/43, and an of securities loaned was $4,368,775 and the collateral received consisted of cash in the aggregate market value of $896,429...... 878,852 878,852 amount of $3,994,781 and non-cash collateral with a value of $511,074. The cash BofA Securities, Inc. collateral investments are disclosed in the Schedule of Investments and categorized as Repurchase Agreement dated 06/30/21 at 0.050%, Securities Lending Reinvestments. The non-cash collateral received consists of U.S. due on 07/01/21 with a maturity value of $312,505; government securities that are held in safe-keeping by the lending agent, or a third- collateralized by U.S. Treasury Bond at 2.875%, maturing party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral 05/15/49, and an aggregate market value of $318,755. . . 312,504 312,504 is excluded from the Statement of Assets and Liabilities. Deutsche Bank AG, London (c) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Repurchase Agreement dated 06/30/21 at 0.170%, Maturity date shown for callable securities reflects the earliest possible call date. For due on 07/01/21 with a maturity value of $32,148; securities based on a published reference index and spread, the index and spread are collateralized by U.S. Treasury and Foreign Obligations with indicated in the description above. For certain variable rate securities, the coupon rate is rates ranging from 0.000% - 3.375%, maturity dates determined by the issuer/agent based on current market conditions. For certain asset- ranging from 02/01/22 - 03/11/31, and an aggregate and mortgage-backed securities, the coupon rate may fluctuate based on changes of the market value of $32,791...... 32,148 32,148 underlying collateral or prepayments of principal. These securities do not indicate a HSBC Bank plc reference index and spread in their description above. Repurchase Agreement dated 06/30/21 at 0.100%, (d) Principal amount of security is adjusted for inflation. due on 07/01/21 with a maturity value of $100,000; (e) Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows collateralized by U.S. Treasury Obligations with rates ranging or permit the borrowers to repay at their election. The degree to which borrowers repay, from 0.099% - 6.125%, maturity dates ranging from whether as a contractual requirement or at their election, cannot be predicted with 08/31/21 - 02/15/50, and an aggregate market value of accuracy. As a result, the actual remaining maturity may be substantially less than the $102,041...... 100,000 100,000 stated maturities shown. However, Senior Loans will generally have an expected NBC Global Finance, Ltd. average life of approximately two to four years. Senior Loans typically have rates of Repurchase Agreement dated 06/30/21 at 0.245%, interest which are determined periodically by reference to a base lending rate, plus a due on 07/07/21 with a maturity value of $500,024; spread. These base rates are primarily the London Interbank Offered Rate and collateralized by U.S. Treasury Obligations with rates ranging secondarily, the prime rate offered by one or more major United States banks. Base from 1.875% - 3.000%, maturity dates ranging from lending rates may be subject to a floor, or a minimum rate. 07/31/22 - 02/15/49, and various Common Stock with an (f) This loan will settle after June 30, 2021, at which time the interest rate will be aggregate market value of $555,556...... 500,000 500,000 determined. 1,923,504 (g) Represents investment of cash collateral received from securities on loan as of June 30, 2021. (h) The rate shown represents the annualized seven-day yield as of June 30, 2021.

See accompanying notes to financial statements. BHFTI-256 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

(144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $38,660,591, which is 7.5% of net assets.

Country Diversification as of %of June 30, 2021 (Unaudited) Net Assets United States ...... 62.8 United Kingdom ...... 4.7 Canada ...... 4.0 Netherlands ...... 3.5 China ...... 2.8 Taiwan ...... 2.3 Japan ...... 1.9 France ...... 1.3 Sweden ...... 1.3 India ...... 1.1

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) EUR 14,107,000 MSC ...... 09/15/21 USD 17,261,889 $(509,051) GBP 796,000 UBSA ...... 09/15/21 USD 1,123,339 (22,049) JPY 1,176,000,000 CSI ...... 09/15/21 USD 10,776,385 (184,216) KRW 813,000,000 BOA ...... 09/15/21 USD 728,887 (7,163)

Contracts to Deliver BRL 3,300,000 BOA ...... 09/02/21 USD 615,591 (42,960) CAD 7,302,000 UBSA ...... 09/15/21 USD 6,037,156 146,736 COP 7,721,975,000 CSI ...... 09/15/21 USD 2,136,063 86,299 IDR 4,981,000,000 UBSA ...... 09/15/21 USD 345,543 4,084 MXN 29,008,000 BOA ...... 09/15/21 USD 1,460,455 18,729 NZD 660,000 MSC ...... 09/15/21 USD 475,329 14,093 ZAR 15,585,000 CBNA ...... 09/15/21 USD 1,130,913 49,759

Cross Currency Contracts to Buy EUR 373,414 MSC ...... 09/15/21 NOK 3,786,000 3,600 Net Unrealized Depreciation ...... $(442,139)

Futures Contracts

Value/ Expiration Number of Notional Unrealized Futures Contracts—Short Date Contracts Value Depreciation U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 (22) USD (3,238,469) $(388)

Glossary of Abbreviations

Counterparties (BOA)— Bank of America N.A. (CSI)— Credit Suisse International (UBSA)— UBS AG (CBNA)— Citibank N.A. (MSC)— Morgan Stanley & Co.

See accompanying notes to financial statements. BHFTI-257 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations—(Continued)

Currencies (AUD)— Australian Dollar (ILS)— Israeli Shekel (PLN)— Polish Zloty (BRL)— Brazilian Real (INR)— Indian Rupee (RON)— New Romanian Leu (CAD)— Canadian Dollar (JPY)— Japanese Yen (SEK)— Swedish Krona (CNY)— Chinese Yuan (KRW)— South Korean Won (SGD)— Singapore Dollar (COP)— Colombian Peso (MXN)— Mexican Peso (USD)— United States Dollar (EUR)— Euro (MYR)— Malaysian Ringgit (UYU)— Uruguayan Peso (GBP)— British Pound (NOK)— Norwegian Krone (ZAR)— South African Rand (IDR)— Indonesian Rupiah (NZD)— New Zealand Dollar

Index Abbreviations (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (SOFR)— Secured Overnight Financing Rate Maturity Index

Other Abbreviations (ADR)— American Depositary Receipt (ICE)— Intercontinental Exchange, Inc.

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $ 6,053,290 $ — $— $ 6,053,290 Banks ...... 7,493,491 4,675,729 — 12,169,220 Capital Markets ...... 15,961,899 — — 15,961,899 Chemicals ...... 19,869,543 — — 19,869,543 Commercial Services & Supplies ...... 4,164,114 — — 4,164,114 Electronic Equipment, Instruments & Components ...... — 3,414,556 — 3,414,556 Food & Staples Retailing ...... 9,165,696 — — 9,165,696 Health Care Equipment & Supplies ...... 15,576,688 — — 15,576,688 Health Care Providers & Services ...... 11,070,564 — — 11,070,564 Hotels, Restaurants & Leisure ...... 17,781,235 — — 17,781,235 Industrial Conglomerates ...... 10,974,938 — — 10,974,938 Insurance ...... — 3,788,262 — 3,788,262 Interactive Media & Services ...... 26,103,931 — — 26,103,931 Internet & Direct Marketing Retail ...... 31,045,360 — — 31,045,360 IT Services ...... 31,252,744 5,956,692 — 37,209,436 Leisure Products ...... 10,153,021 — — 10,153,021 Life Sciences Tools & Services ...... 20,848,912 — — 20,848,912 Machinery ...... 8,578,455 6,049,264 — 14,627,719 Personal Products ...... 9,543,990 — — 9,543,990 Semiconductors & Semiconductor Equipment ...... 16,963,825 29,373,714 — 46,337,539 Software ...... 8,453,576 3,694,068 — 12,147,644

See accompanying notes to financial statements. BHFTI-258 Brighthouse Funds Trust I Loomis Sayles Global Allocation Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Specialty Retail ...... $ 8,257,975 $ — $— $ 8,257,975 Textiles, Apparel & Luxury Goods ...... 4,184,221 — — 4,184,221 Total Common Stocks ...... 293,497,468 56,952,285 — 350,449,753 Total Corporate Bonds & Notes* ...... — 69,466,988 — 69,466,988 Total Foreign Government* ...... — 48,037,192 — 48,037,192 Total U.S. Treasury & Government Agencies* ...... — 23,105,927 — 23,105,927 Total Convertible Bonds* ...... — 9,069,225 — 9,069,225 Total Municipals* ...... — 677,560 — 677,560 Total Convertible Preferred Stock* ...... 289,139 — — 289,139 Total Floating Rate Loans* ...... — 105,166 — 105,166 Total Mortgage-Backed Securities* ...... — 69,151 — 69,151 Total Short-Term Investment* ...... — 10,948,304 — 10,948,304 Securities Lending Reinvestments Certificate of Deposit ...... — 39,630 — 39,630 Repurchase Agreements ...... — 1,923,504 — 1,923,504 Time Deposit ...... — 31,647 — 31,647 Mutual Funds ...... 2,000,000 — — 2,000,000 Total Securities Lending Reinvestments ...... 2,000,000 1,994,781 — 3,994,781 Total Investments ...... $295,786,607 $220,426,579 $— $516,213,186 Collateral for Securities Loaned (Liability) ...... $ — $ (3,994,781) $— $ (3,994,781) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 323,300 $— $ 323,300 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (765,439) — (765,439) Total Forward Contracts ...... $ — $ (442,139) $— $ (442,139) Futures Contracts Futures Contracts (Unrealized Depreciation) ...... $ (388) $ — $— $ (388)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-259 Brighthouse Funds Trust I Loomis Sayles Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—98.8% of Net Assets

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Aerospace & Defense—4.4% IT Services—6.1% Boeing Co. (The) (a) ...... 677,478 $ 162,296,630 Automatic Data Processing, Inc...... 125,879 $ 25,002,087 Visa, Inc. - A Shares (b) ...... 858,577 200,752,474 Air Freight & Logistics—2.5% 225,754,561 Expeditors International of Washington, Inc...... 724,014 91,660,172 Life Sciences Tools & Services—2.6% Beverages—2.9% Illumina, Inc. (a) ...... 204,924 96,972,086 Monster Beverage Corp. (a) ...... 1,203,140 109,906,839 Machinery—4.0% Biotechnology—3.1% Deere & Co...... 428,284 151,060,050 Regeneron Pharmaceuticals, Inc. (a) ...... 163,942 91,568,165 Vertex Pharmaceuticals, Inc. (a) ...... 125,104 25,224,719 Pharmaceuticals—6.2% 116,792,884 Novartis AG (ADR) ...... 1,164,484 106,247,520 Novo Nordisk A/S (ADR) ...... 399,899 33,499,540 Capital Markets—2.6% Roche Holding AG (ADR) ...... 1,966,286 92,395,779 FactSet Research Systems, Inc...... 140,287 47,081,720 232,142,839 SEI Investments Co. (b) ...... 794,600 49,241,362 96,323,082 Semiconductors & Semiconductor Equipment—8.2% NVIDIA Corp...... 290,614 232,520,261 Communications Equipment—1.7% QUALCOMM, Inc...... 521,779 74,577,873 Cisco Systems, Inc...... 1,167,949 61,901,297 307,098,134

Energy Equipment & Services—1.5% Software—17.6% Schlumberger NV ...... 1,731,845 55,436,358 Autodesk, Inc. (a) ...... 565,545 165,082,585 Microsoft Corp...... 578,869 156,815,612 Entertainment—3.2% Oracle Corp. (b) ...... 1,862,672 144,990,388 Walt Disney Co. (The) (a) ...... 684,781 120,363,956 Salesforce.com, Inc. (a) ...... 572,125 139,752,974 Workday, Inc. - Class A (a) (b) ...... 212,275 50,678,534 Health Care Equipment & Supplies—1.4% Intuitive Surgical, Inc. (a) ...... 55,659 51,186,243 657,320,093 Total Common Stocks Health Care Technology—1.2% (Cost $2,536,083,060) ...... 3,681,171,779 Cerner Corp...... 557,260 43,555,442

Hotels, Restaurants & Leisure—4.4% Short-Term Investment—1.3% Starbucks Corp...... 777,881 86,974,875 Yum China Holdings, Inc. (b) ...... 501,982 33,256,308 Repurchase Agreement—1.3% Yum! Brands, Inc...... 370,082 42,570,532 Fixed Income Clearing Corp. Repurchase Agreement dated 06/30/21 at 0.000%, due on 162,801,715 07/01/21 with a maturity value of $47,618,220; collateralized by U.S. Treasury Notes with rates ranging from Household Products—1.2% 0.375% - 2.125%, maturity dates ranging from 03/31/24 - Colgate-Palmolive Co...... 550,822 44,809,370 04/15/24, and an aggregate market value of $48,570,676...... 47,618,220 47,618,220 Interactive Media & Services—13.2% Alphabet, Inc. - Class A (a) ...... 51,419 125,554,400 Total Short-Term Investments Alphabet, Inc. - Class C (a) ...... 51,580 129,275,985 (Cost $47,618,220) ...... 47,618,220 Facebook, Inc. - Class A (a) ...... 679,508 236,271,727 491,102,112 Securities Lending Reinvestments (c)—6.5%

Internet & Direct Marketing Retail—10.8% Certificates of Deposit—0.3% Alibaba Group Holding, Ltd. (ADR) (a) ...... 658,072 149,237,568 Agricultural Bank of China Amazon.com, Inc. (a) ...... 73,674 253,450,348 0.100%, 07/01/21 ...... 900,000 899,999 402,687,916

See accompanying notes to financial statements. BHFTI-260 Brighthouse Funds Trust I Loomis Sayles Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Certificates of Deposit—(Continued) Repurchase Agreements—(Continued) Cooperatieve Rabobank UA National Bank of Canada 0.228%, 3M LIBOR + 0.040%, 01/11/22 (d) ...... 2,000,000 $ 2,000,580 Repurchase Agreement dated 06/30/21 at 0.210%, due on Mitsubishi UFJ Trust and Banking Corp. (London) 07/07/21 with a maturity value of $40,001,633; Zero Coupon, 08/11/21 ...... 999,566 999,840 collateralized by various Common Stock with an aggregate Royal Bank of Canada New York market value of $44,444,704...... 40,000,000 $ 40,000,000 0.240%, 3M LIBOR + 0.040%, 10/05/21 (d) ...... 3,000,000 3,000,531 Natwest Market Securities, Inc. Sumitomo Mitsui Trust Bank, Ltd. Repurchase Agreement dated 06/30/21 at 0.050%, due on Zero Coupon, 08/09/21 ...... 1,998,645 1,999,700 07/01/21 with a maturity value of $30,000,042; Toronto-Dominion Bank collateralized by U.S. Treasury Obligations with rates ranging 0.267%, 3M LIBOR + 0.070%, 10/08/21 (d) ...... 3,000,000 2,999,734 from 1.250% - 8.125%, maturity dates ranging from 11,900,384 08/15/21 - 05/15/51, and an aggregate market value of $30,600,043...... 30,000,000 30,000,000 Repurchase Agreements—4.4% NBC Global Finance, Ltd. Barclays Capital, Inc. Repurchase Agreement dated 06/30/21 at 0.200%, due on Repurchase Agreement dated 06/30/21 at 0.030%, due on 07/01/21 with a maturity value of $30,000,167; 07/01/21 with a maturity value of $6,002,099; collateralized by U.S. Treasury Obligations with rates ranging collateralized by U.S. Treasury Obligations at 0.000%, from 1.875% - 3.000%, maturity dates ranging from maturity dates ranging from 05/15/29 - 11/15/43, and an 07/31/22 - 02/15/49, and various Common Stock with an aggregate market value of $6,122,136...... 6,002,094 6,002,094 aggregate market value of $33,333,344...... 30,000,000 30,000,000 BofA Securities, Inc. Royal Bank of Canada Repurchase Agreement dated 06/30/21 at 0.360%, due on Repurchase Agreement dated 06/30/21 at 0.360%, due on 08/04/21 with a maturity value of $4,001,400; 08/04/21 with a maturity value of $4,001,400; collateralized by various Common Stock with an aggregate collateralized by various Common Stock with an aggregate market value of $4,400,001...... 4,000,000 4,000,000 market value of $4,444,489...... 4,000,000 4,000,000 Citigroup Global Markets, Inc. 163,202,094 Repurchase Agreement dated 06/30/21 at 0.060%, due on 07/01/21 with a maturity value of $10,000,017; Time Deposits—0.6% collateralized by U.S. Treasury Obligations with rates ranging ABN AMRO Bank NV from 0.125% - 6.125%, maturity dates ranging from 0.080%, 07/01/21 ...... 10,000,000 10,000,000 08/15/29 - 02/15/31, and an aggregate market value of Landesbank Baden-Wuettertemberg (London) $10,200,003...... 10,000,000 10,000,000 0.130%, 07/01/21 ...... 1,400,000 1,400,000 Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.130%, 07/01/21 ...... 10,000,000 10,000,000 08/04/21 with a maturity value of $2,000,836; National Bank of Canada collateralized by U.S. Treasury Obligations at 2.000%, 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 3,000,000 3,000,000 maturing 11/30/22, and various Common Stock with an aggregate market value of $2,196,455...... 2,000,000 2,000,000 24,400,000 Repurchase Agreement dated 06/30/21 at 0.430%, due on 08/04/21 with a maturity value of $3,001,254; Mutual Funds—1.2% collateralized by U.S. Treasury Obligations at 0.125%, BlackRock Liquidity Funds FedFund, Institutional Shares maturing 05/31/23, and various Common Stock with an 0.030% (e) ...... 7,000,000 7,000,000 aggregate market value of $3,299,558...... 3,000,000 3,000,000 Goldman Sachs Financial Square Government Fund, Institutional Deutsche Bank AG, London Shares Repurchase Agreement dated 06/30/21 at 0.170%, due on 0.020% (e) ...... 7,000,000 7,000,000 07/01/21 with a maturity value of $5,000,024; STIT-Government & Agency Portfolio, Institutional Class collateralized by U.S. Treasury and Foreign Obligations with 0.030% (e) ...... 30,000,000 30,000,000 rates ranging from 0.000% - 3.375%, maturity dates ranging 44,000,000 from 02/01/22 - 03/11/31, and an aggregate market value of $5,100,004...... 5,000,000 5,000,000 Total Securities Lending Reinvestments HSBC Bank plc (Cost $243,501,467) ...... 243,502,478 Repurchase Agreement dated 06/30/21 at 0.100%, due on Total Investments—106.6% 07/01/21 with a maturity value of $29,200,081; (Cost $2,827,202,747) ...... 3,972,292,477 collateralized by U.S. Treasury Obligations with rates ranging Other assets and liabilities (net)—(6.6)% ...... (245,406,870) from 0.099% - 6.125%, maturity dates ranging from Net Assets—100.0% ...... $3,726,885,607 08/31/21 - 02/15/50, and an aggregate market value of $29,796,002...... 29,200,000 29,200,000

See accompanying notes to financial statements. BHFTI-261 Brighthouse Funds Trust I Loomis Sayles Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

* Principal amount stated in U.S. dollars unless otherwise noted. (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. (a) Non-income producing security. Maturity date shown for callable securities reflects the earliest possible call date. For (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value securities based on a published reference index and spread, the index and spread are of securities loaned was $236,781,303 and the collateral received consisted of cash in indicated in the description above. For certain variable rate securities, the coupon rate is the amount of $243,500,305. The cash collateral investments are disclosed in the determined by the issuer/agent based on current market conditions. For certain asset- Schedule of Investments and categorized as Securities Lending Reinvestments. and mortgage-backed securities, the coupon rate may fluctuate based on changes of the (c) Represents investment of cash collateral received from securities on loan as of June 30, underlying collateral or prepayments of principal. These securities do not indicate a 2021. reference index and spread in their description above. (e) The rate shown represents the annualized seven-day yield as of June 30, 2021.

Glossary of Abbreviations

Index Abbreviations (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ADR)— American Depositary Receipt

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $3,681,171,779 $ — $— $3,681,171,779 Total Short-Term Investment* ...... — 47,618,220 — 47,618,220 Securities Lending Reinvestments Certificates of Deposit ...... — 11,900,384 — 11,900,384 Repurchase Agreements ...... — 163,202,094 — 163,202,094 Time Deposits ...... — 24,400,000 — 24,400,000 Mutual Funds ...... 44,000,000 — — 44,000,000 Total Securities Lending Reinvestments ...... 44,000,000 199,502,478 — 243,502,478 Total Investments ...... $3,725,171,779 $ 247,120,698 $— $3,972,292,477 Collateral for Securities Loaned (Liability) ...... $ — $(243,500,305) $— $ (243,500,305)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-262 Brighthouse Funds Trust I MetLife Multi-Index Targeted Risk Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—74.6% of Net Assets

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Affiliated Investment Companies—74.6% U.S. Treasury—(Continued) MetLife Aggregate Bond Index Portfolio (Class A) (a) ...... 66,748,951 $ 738,243,400 U.S. Cash Management Bill MetLife Mid Cap Stock Index Portfolio (Class A) (a) ...... 4,166,337 87,659,737 0.029%, 10/05/21 (b) ...... 110,000,000 $ 109,986,800 MetLife MSCI EAFE Index Portfolio (Class A) (a) ...... 13,323,313 211,307,742 Total Short-Term Investments MetLife Russell 2000 Index Portfolio (Class A) (a) ...... 2,167,057 53,656,323 (Cost $473,371,953) ...... 473,344,233 MetLife Stock Index Portfolio (Class A) (a) ...... 4,692,807 302,451,384 Total Investments—100.0% Total Mutual Funds (Cost $1,714,973,331) ...... 1,866,662,819 (Cost $1,241,601,378) ...... 1,393,318,586 Other assets and liabilities (net)—0.0% ...... 316,419 Net Assets—100.0% ...... $1,866,979,238 Short-Term Investments—25.4%

U.S. Treasury—25.4% * Principal amount stated in U.S. dollars unless otherwise noted. U.S. Treasury Bills (a) A Portfolio of Brighthouse Funds Trust II. (See Note 7 of the Notes to Financial 0.011%, 08/26/21 (b) ...... 93,900,000 93,893,500 Statements for a summary of transactions in the securities of affiliated issuers.) 0.025%, 11/04/21 (b) ...... 118,500,000 118,477,879 (b) The rate shown represents current yield to maturity. 0.026%, 09/09/21 (b) (c) (d) ...... 151,000,000 150,986,054 (c) All or a portion of the security was pledged as collateral against open futures contracts. As of June 30, 2021, the market value of securities pledged was $36,096,666. 363,357,433 (d) All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of June 30, 2021, the market value of securities pledged was $25,997,599.

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) MSCI EAFE Index Mini Futures ...... 09/17/21 1,761 USD 202,876,005 $(5,044,523) Russell 2000 Index E-Mini Futures ...... 09/17/21 480 USD 55,387,200 44,880 S&P 500 Index E-Mini Futures ...... 09/17/21 1,366 USD 292,911,380 4,068,631 S&P Midcap 400 Index E-Mini Futures ...... 09/17/21 309 USD 83,195,160 (1,030,203) Net Unrealized Depreciation ...... $(1,961,215)

Swap Agreements Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay ...... 3MLIBOR Quarterly 1.600% Semi-Annually 06/11/31 USD 85,000,000 $ 1,211,403 $ 122,399 $ 1,089,004 Pay ...... 3MLIBOR Quarterly 1.500% Semi-Annually 09/15/31 USD 83,000,000 277,511 (153,380) 430,890 Pay ...... 3MLIBOR Quarterly 1.670% Semi-Annually 08/18/31 USD 83,000,000 1,676,127 (180,549) 1,856,677 Pay ...... 3MLIBOR Quarterly 1.270% Semi-Annually 05/14/31 USD 83,000,000 (1,371,152) (96,034) (1,275,118) Pay ...... 3MLIBOR Quarterly 1.140% Semi-Annually 04/22/31 USD 83,000,000 (2,349,423) (77,184) (2,272,239) Pay ...... 3MLIBOR Quarterly 1.590% Semi-Annually 07/15/31 USD 83,000,000 1,086,877 (109,554) 1,196,431 Totals ...... $ 531,343 $(494,302) $ 1,025,645

See accompanying notes to financial statements. BHFTI-263 Brighthouse Funds Trust I MetLife Multi-Index Targeted Risk Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations

Currencies (USD)— United States Dollar

Index Abbreviations (LIBOR)— London Interbank Offered Rate

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

Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Mutual Funds* ...... $1,393,318,586 $ — $— $1,393,318,586 Total Short-Term Investments* ...... — 473,344,233 — 473,344,233 Total Investments ...... $1,393,318,586 $473,344,233 $— $1,866,662,819 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 4,113,511 $ — $— $ 4,113,511 Futures Contracts (Unrealized Depreciation) ...... (6,074,726) — — (6,074,726) Total Futures Contracts ...... $ (1,961,215) $ — $— $ (1,961,215) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 4,573,002 $— $ 4,573,002 Centrally Cleared Swap Contracts (Unrealized Depreciation) ...... — (3,547,357) — (3,547,357) Total Centrally Cleared Swap Contracts ...... $ — $ 1,025,645 $— $ 1,025,645

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-264 Brighthouse Funds Trust I MFS Research International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—99.3% of Net Assets

Security Description Shares Value Security Description Shares Value

Australia—2.7% Hong Kong—4.4% APA Group ...... 890,335 $ 5,932,001 AIA Group, Ltd...... 2,844,828 $ 35,357,457 Brambles, Ltd...... 1,712,906 14,693,655 CLP Holdings, Ltd...... 1,002,500 9,908,787 carsales.com, Ltd...... 318,915 4,728,194 Hong Kong Exchanges & Clearing, Ltd...... 258,100 15,384,346 Macquarie Group, Ltd...... 121,291 14,226,030 Techtronic Industries Co., Ltd...... 1,470,000 25,726,775 Oil Search, Ltd...... 2,712,768 7,754,358 86,377,365 Seek, Ltd...... 191,900 4,770,788 52,105,026 India—1.3% HDFC Bank, Ltd...... 1,239,314 24,979,723 Canada—2.0% Constellation Software, Inc...... 8,384 12,697,810 Ireland—1.8% Ritchie Bros Auctioneers, Inc. (a) ...... 261,844 15,523,488 AIB Group plc (b) ...... 3,123,646 8,037,210 TC Energy Corp...... 210,750 10,428,691 Bank of Ireland Group plc (b) ...... 500,839 2,679,061 Flutter Entertainment plc (b) ...... 78,325 14,245,884 38,649,989 Ryanair Holdings plc (ADR) (a) (b) ...... 84,016 9,091,371 34,053,526 China—4.4% 51job, Inc. (ADR) (b) ...... 87,957 6,840,416 Italy—0.5% China Resources Gas Group, Ltd...... 1,708,424 10,253,669 Eni S.p.A...... 801,775 9,781,821 ESR Cayman, Ltd. (b) ...... 2,882,600 9,727,469 NetEase, Inc. (ADR) ...... 234,982 27,081,675 Japan—20.1% Tencent Holdings, Ltd...... 243,200 18,293,294 Bridgestone Corp. (a) ...... 251,900 11,457,130 Yum China Holdings, Inc...... 193,365 12,810,431 Daikin Industries, Ltd...... 145,200 27,029,120 85,006,954 Fujitsu, Ltd...... 129,000 24,162,229 Hitachi, Ltd...... 613,900 35,134,018 Denmark—3.0% Idemitsu Kosan Co., Ltd...... 401,600 9,693,274 Novo Nordisk A/S - Class B ...... 591,436 49,480,735 Japan Tobacco, Inc. (a) ...... 554,831 10,478,732 Orsted A/S ...... 62,992 8,861,910 Kansai Paint Co., Ltd...... 385,200 9,812,459 Kao Corp. (a) ...... 230,500 14,178,867 58,342,645 KDDI Corp...... 587,300 18,311,562 Koito Manufacturing Co., Ltd...... 252,500 15,697,054 France—8.9% Kubota Corp. (a) ...... 1,095,900 22,156,689 BNP Paribas S.A...... 486,075 30,440,006 Kyocera Corp...... 190,400 11,765,874 Danone S.A...... 262,899 18,515,426 Kyowa Kirin Co., Ltd...... 755,800 26,684,229 EssilorLuxottica S.A...... 43,855 8,097,712 Mitsubishi UFJ Financial Group, Inc...... 3,385,700 18,277,213 Legrand S.A...... 221,007 23,405,498 Nitto Denko Corp...... 201,900 15,058,124 LVMH Moet Hennessy Louis Vuitton SE ...... 55,759 43,780,122 Nomura Research Institute, Ltd...... 441,600 14,613,750 Schneider Electric SE ...... 312,009 49,114,750 Persol Holdings Co., Ltd...... 281,200 5,552,767 173,353,514 Santen Pharmaceutical Co., Ltd...... 1,282,000 17,652,028 SMC Corp...... 35,600 21,027,507 Germany—8.3% SoftBank Group Corp...... 223,900 15,679,782 Adidas AG ...... 69,254 25,788,034 Sugi Holdings Co., Ltd...... 95,600 6,971,457 Bayer AG ...... 197,056 11,969,516 Terumo Corp...... 332,000 13,448,478 Toyota Industries Corp...... 154,700 13,376,805 Continental AG ...... 88,949 13,080,227 Yamaha Corp...... 148,600 8,062,118 E.ON SE ...... 836,070 9,668,944 ZOZO, Inc...... 118,400 4,024,949 GEA Group AG ...... 390,947 15,835,142 Grand City Properties S.A. (a) ...... 756,865 20,446,304 390,306,215 LEG Immobilien SE ...... 158,351 22,814,697 MTU Aero Engines AG ...... 37,745 9,352,082 Netherlands—7.2% Scout24 AG (b) ...... 137,478 11,604,400 Akzo Nobel NV ...... 225,432 27,857,911 Symrise AG ...... 156,351 21,796,316 Euronext NV ...... 225,642 24,546,892 ING Groep NV ...... 1,307,995 17,304,335 162,355,662 Koninklijke Philips NV ...... 523,426 25,948,478 NXP Semiconductors NV ...... 88,548 18,216,094 Greece—0.4% Wolters Kluwer NV ...... 263,587 26,492,492 Hellenic Telecommunications Organization S.A...... 480,898 8,072,159 140,366,202

See accompanying notes to financial statements. BHFTI-265 Brighthouse Funds Trust I MFS Research International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Portugal—0.7% United States—(Continued) Galp Energia SGPS S.A...... 1,173,429 $ 12,767,741 EPAM Systems, Inc. (b) ...... 35,442 $ 18,109,444 QIAGEN NV (b) ...... 344,247 16,639,293 South Africa—0.5% Visa, Inc. - A Shares ...... 64,650 15,116,463 Naspers, Ltd. - N Shares ...... 44,983 9,449,741 94,389,348 Total Common Stocks South Korea—1.5% (Cost $1,391,019,086) ...... 1,930,470,646 NAVER Corp...... 42,169 15,637,077 Samsung Electronics Co., Ltd...... 197,933 14,186,916 29,823,993 Warrants—0.0%

Spain—2.4% Switzerland—0.0% Amadeus IT Group S.A. (b) ...... 221,716 15,592,470 Cie Financiere Richemont S.A. Expires 11/22/2023 (b) Cellnex Telecom S.A...... 194,425 12,385,546 (Cost $0) ...... 298,538 200,047 Iberdrola S.A...... 1,504,945 18,338,398 46,316,414 Short-Term Investment—0.3%

Sweden—0.1% Repurchase Agreement—0.3% Tele2 AB - B Shares (a) ...... 205,896 2,805,874 Fixed Income Clearing Corp. Repurchase Agreement dated 06/30/21 at 0.000%, due on Switzerland—13.3% 07/01/21 with a maturity value of $6,430,811; collateralized Cie Financiere Richemont S.A. - Class A ...... 130,121 15,754,026 by U.S. Treasury Note at 0.375%, maturing 04/15/24, with a Credit Suisse Group AG ...... 1,407,761 14,733,948 market value of $6,559,495...... 6,430,811 6,430,811 Glencore plc (b) ...... 2,644,662 11,325,437 Total Short-Term Investments Julius Baer Group, Ltd...... 248,638 16,216,363 (Cost $6,430,811) ...... 6,430,811 Nestle S.A...... 469,389 58,455,526 Roche Holding AG ...... 162,753 61,336,822 Schindler Holding AG (Participation Certificate) ...... 63,503 19,428,985 Securities Lending Reinvestments (c)—2.5% Sika AG ...... 71,908 23,512,750 UBS Group AG ...... 1,315,112 20,136,318 Certificate of Deposit—0.0% Zurich Insurance Group AG ...... 42,794 17,158,141 Agricultural Bank of China 0.100%, 07/01/21 ...... 29,533 29,533 258,058,316 Repurchase Agreements—1.0% Taiwan—0.8% Barclays Bank plc Taiwan Semiconductor Manufacturing Co., Ltd...... 767,468 16,389,178 Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/01/21 with a maturity value of $1,200,007; collateralized Thailand—0.4% by various Common Stock with an aggregate market value of Advanced Info Service PCL (NVDR) ...... 1,397,000 7,453,572 $1,333,436...... 1,200,000 1,200,000 Barclays Capital, Inc. United Kingdom—9.7% Repurchase Agreement dated 06/30/21 at 0.030%, due on Beazley plc (b) ...... 562,098 2,588,890 07/01/21 with a maturity value of $5,509,881; collateralized British American Tobacco plc ...... 574,813 22,407,467 by U.S. Treasury Obligations at 0.000%, maturity dates ranging Burberry Group plc (b) ...... 230,124 6,590,993 from 05/15/29 - 11/15/43, and an aggregate market value Cairn Energy plc ...... 2,723,822 5,496,954 of $5,620,074...... 5,509,877 5,509,877 Croda International plc ...... 235,596 24,031,685 Deutsche Bank AG, London Diageo plc ...... 725,400 34,763,711 Repurchase Agreement dated 06/30/21 at 0.170%, due on Hiscox, Ltd. (b) ...... 626,774 7,215,530 07/01/21 with a maturity value of $100,000; collateralized Linde plc (a) ...... 161,068 46,538,587 by U.S. Treasury and Foreign Obligations with rates ranging Natwest Group plc ...... 6,483,668 18,218,351 from 0.000% - 3.375%, maturity dates ranging from Ocado Group plc (b) ...... 128,233 3,553,161 02/01/22 - 03/11/31, and an aggregate market value of Reckitt Benckiser Group plc ...... 201,809 17,860,339 $102,000...... 100,000 100,000 HSBC Bank plc 189,265,668 Repurchase Agreement dated 06/30/21 at 0.100%, due on 07/01/21 with a maturity value of $800,002; collateralized United States—4.9% by U.S. Treasury Obligations with rates ranging from 0.099% - Aon plc - Class A ...... 142,224 33,957,402 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, Cadence Design Systems, Inc. (b) ...... 77,231 10,566,746 and an aggregate market value of $816,329...... 800,000 800,000

See accompanying notes to financial statements. BHFTI-266 Brighthouse Funds Trust I MFS Research International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value Security Description Amount* Value of securities loaned was $65,489,387 and the collateral received consisted of cash in the amount of $47,339,410 and non-cash collateral with a value of $22,100,688. The Repurchase Agreements—(Continued) cash collateral investments are disclosed in the Schedule of Investments and categorized National Bank of Canada as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. Repurchase Agreement dated 06/30/21 at 0.210%, due on government securities that are held in safe-keeping by the lending agent, or a third- 07/07/21 with a maturity value of $3,000,123; collateralized party custodian, and cannot be sold or repledged by the Portfolio. by various Common Stock with an aggregate market value of (b) Non-income producing security. $3,333,353...... 3,000,000 $ 3,000,000 (c) Represents investment of cash collateral received from securities on loan as of June 30, NBC Global Finance, Ltd. 2021. Repurchase Agreement dated 06/30/21 at 0.245%, due on (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 07/07/21 with a maturity value of $1,500,071; collateralized Maturity date shown for callable securities reflects the earliest possible call date. For by U.S. Treasury Obligations with rates ranging from 1.875% - securities based on a published reference index and spread, the index and spread are 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, indicated in the description above. For certain variable rate securities, the coupon rate is and various Common Stock with an aggregate market value of determined by the issuer/agent based on current market conditions. For certain asset- $1,666,667...... 1,500,000 1,500,000 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Repurchase Agreement dated 06/30/21 at 0.260%, due on underlying collateral or prepayments of principal. These securities do not indicate a 07/07/21 with a maturity value of $1,000,051; collateralized reference index and spread in their description above. by U.S. Treasury Obligations with rates ranging from 2.125% - (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, and various Common Stock with an aggregate market value of Ten Largest Industries as of %of $1,111,307...... 1,000,000 1,000,000 June 30, 2021 (Unaudited) Net Assets Societe Generale Chemicals ...... 8.7 Repurchase Agreement dated 06/30/21 at 0.180%, due on Pharmaceuticals ...... 8.6 07/01/21 with a maturity value of $5,000,025; collateralized Banks ...... 6.2 by various Common Stock with an aggregate market value of Capital Markets ...... 5.4 $5,555,671...... 5,000,000 5,000,000 Machinery ...... 5.4 18,109,877 Textiles, Apparel & Luxury Goods ...... 5.1 Insurance ...... 4.9 Time Deposits—0.1% IT Services ...... 4.5 ABN AMRO Bank NV Food Products ...... 4.0 0.080%, 07/01/21 (d) ...... 2,000,000 2,000,000 Electrical Equipment ...... 3.7 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 (d) ...... 200,000 200,000 Glossary of Abbreviations 2,200,000 Other Abbreviations Mutual Funds—1.4% (NVDR)— Non-Voting Depository Receipts BlackRock Liquidity Funds FedFund, Institutional Shares (ADR)— American Depositary Receipt 0.030% (e) ...... 7,000,000 7,000,000 Fidelity Government Portfolio, Institutional Class 0.010% (e) ...... 4,000,000 4,000,000 Goldman Sachs Financial Square Government Fund, Institutional Shares 0.020% (e) ...... 7,000,000 7,000,000 STIT-Government & Agency Portfolio, Institutional Class 0.030% (e) ...... 5,000,000 5,000,000 Wells Fargo Government Money Market Fund, Select Class 0.030% (e) ...... 4,000,000 4,000,000 27,000,000 Total Securities Lending Reinvestments (Cost $47,339,410) ...... 47,339,410 Total Investments—102.1% (Cost $1,444,789,307) ...... 1,984,440,914 Other assets and liabilities (net)—(2.1)% ...... (39,950,264) Net Assets—100.0% ...... $1,944,490,650

See accompanying notes to financial statements. BHFTI-267 Brighthouse Funds Trust I MFS Research International Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Australia ...... $ — $ 52,105,026 $— $ 52,105,026 Canada ...... 38,649,989 — — 38,649,989 China ...... 46,732,522 38,274,432 — 85,006,954 Denmark ...... — 58,342,645 — 58,342,645 France ...... — 173,353,514 — 173,353,514 Germany ...... — 162,355,662 — 162,355,662 Greece ...... — 8,072,159 — 8,072,159 Hong Kong ...... — 86,377,365 — 86,377,365 India ...... — 24,979,723 — 24,979,723 Ireland ...... 9,091,371 24,962,155 — 34,053,526 Italy ...... — 9,781,821 — 9,781,821 Japan ...... — 390,306,215 — 390,306,215 Netherlands ...... 18,216,094 122,150,108 — 140,366,202 Portugal ...... — 12,767,741 — 12,767,741 South Africa ...... — 9,449,741 — 9,449,741 South Korea ...... — 29,823,993 — 29,823,993 Spain ...... — 46,316,414 — 46,316,414 Sweden ...... — 2,805,874 — 2,805,874 Switzerland ...... — 258,058,316 — 258,058,316 Taiwan ...... — 16,389,178 — 16,389,178 Thailand ...... 7,453,572 — — 7,453,572 United Kingdom ...... — 189,265,668 — 189,265,668 United States ...... 77,750,055 16,639,293 — 94,389,348 Total Common Stocks ...... 197,893,603 1,732,577,043 — 1,930,470,646 Total Warrants* ...... 200,047 — — 200,047 Total Short-Term Investment* ...... — 6,430,811 — 6,430,811 Securities Lending Reinvestments Certificate of Deposit ...... — 29,533 — 29,533 Repurchase Agreements ...... — 18,109,877 — 18,109,877 Time Deposits ...... — 2,200,000 — 2,200,000 Mutual Funds ...... 27,000,000 — — 27,000,000 Total Securities Lending Reinvestments ...... 27,000,000 20,339,410 — 47,339,410 Total Investments ...... $225,093,650 $1,759,347,264 $— $1,984,440,914 Collateral for Securities Loaned (Liability) ...... $ — $ (47,339,410) $— $ (47,339,410)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-268 Brighthouse Funds Trust I Morgan Stanley Discovery Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—97.2% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—2.6% Life Sciences Tools & Services—2.1% Axon Enterprise, Inc. (a) (b) ...... 389,782 $ 68,913,458 10X Genomics, Inc. - Class A (a) (b) ...... 138,995 $ 27,218,001 NanoString Technologies, Inc. (a) (b) ...... 418,854 27,137,550 Biotechnology—1.6% 54,355,551 Alnylam Pharmaceuticals, Inc. (a) (b) ...... 97,552 16,537,015 Exact Sciences Corp. (a) (b) ...... 205,130 25,499,710 Metals & Mining—0.3% 42,036,725 Royal Gold, Inc. (b) ...... 65,513 7,475,033

Entertainment—8.0% Pharmaceuticals—3.0% ROBLOX Corp. - Class A (a) (b) ...... 737,152 66,328,937 Royalty Pharma plc - Class A ...... 1,909,595 78,274,299 Roku, Inc. (a) ...... 115,870 53,213,297 Skillz, Inc. (a) (b) ...... 4,155,068 90,248,077 Real Estate Management & Development—1.4% 209,790,311 Opendoor Technologies, Inc. (a) (b) ...... 553,552 9,814,477 Corp. (a) (b) ...... 442,290 28,045,609 Health Care Providers & Services—6.1% 37,860,086 Agilon Health Topco, Inc. † (a) (c) ...... 1,294,600 49,020,285 agilon health, Inc. (a) ...... 350,550 14,221,813 Software—13.7% Covetrus, Inc. (a) ...... 2,310,186 62,375,022 Bill.com Holdings, Inc. (a) ...... 78,799 14,434,401 Guardant Health, Inc. (a) (b) ...... 171,220 21,263,812 Cloudflare, Inc. - Class A (a) (b) ...... 1,108,234 117,295,487 Oak Street Health, Inc. (a) (b) ...... 201,631 11,809,528 Confluent, Inc. - Class A (a) (b) ...... 238,214 11,315,165 158,690,460 Coupa Software, Inc. (a) (b) ...... 176,603 46,289,412 Ironsource, Ltd. † (a) (c) ...... 2,365,584 23,596,700 Health Care Technology—5.3% MicroStrategy, Inc. - Class A (a) (b) ...... 21,992 14,613,684 GoodRx Holdings, Inc. - Class A (a) (b) ...... 682,477 24,575,997 Procore Technologies, Inc. (a) (b) ...... 116,769 11,087,217 Teladoc Health, Inc. (a) (b) ...... 79,875 13,282,414 Qualtrics International, Inc. - Class A (a) (b) ...... 419,855 16,059,454 Veeva Systems, Inc. - Class A (a) ...... 321,194 99,875,274 Trade Desk, Inc. (The) - Class A (a) ...... 656,340 50,774,462 UiPath, Inc. - Class A (a) (b) ...... 205,446 13,955,947 137,733,685 Unity Software, Inc. (a) (b) ...... 359,488 39,482,567

Interactive Media & Services—13.4% 358,904,496 Pinterest, Inc. - Class A (a) ...... 1,696,659 133,951,228 Twitter, Inc. (a) ...... 1,973,384 135,788,553 Special Purpose Acquisition Companies—1.5% Zillow Group, Inc. - Class C (a) (b) ...... 305,548 37,344,077 BowX Acquisition Corp. - Class A (a) (b) ...... 1,067,937 12,281,275 ZoomInfo Technologies, Inc. - Class A (a) (b) ...... 833,294 43,472,948 Good Works Acquisition Corp. † (a) (c) ...... 1,260,988 11,292,148 Soaring Eagle Acquisition Corp. (a) (b) ...... 1,358,015 14,381,379 350,556,806 37,954,802 Internet & Direct Marketing Retail—12.8% DoorDash, Inc. - Class A (a) (b) ...... 690,862 123,201,420 Specialty Retail—4.2% Farfetch, Ltd. - Class A (a) (b) ...... 845,197 42,564,121 Carvana Co. (a) (b) ...... 363,837 109,813,283 Overstock.com, Inc. (a) ...... 479,344 44,195,517 Total Common Stocks Stitch Fix, Inc. - Class A (a) (b) ...... 637,943 38,467,963 (Cost $1,939,069,422) ...... 2,541,964,366 Wayfair, Inc. - Class A (a) (b) ...... 272,894 86,155,365 334,584,386 Preferred Stock—0.1% IT Services—19.3% Internet & Direct Marketing Retail—0.1% Affirm Holdings, Inc. (a) (b) ...... 169,955 11,446,469 Overstock.com, Inc. - Series A-1 Fastly, Inc. - Class A (a) (b) ...... 1,380,252 82,263,019 (Cost $76,885) ...... 17,118 1,455,030 Marqeta, Inc. - Class A (a) (b) ...... 935,502 26,259,541 MongoDB, Inc. (a) (b) ...... 247,884 89,615,024 Okta, Inc. (a) (b) ...... 379,869 92,946,347 Escrow Shares—0.0% Snowflake, Inc. - Class A (a) (b) ...... 294,851 71,294,972 Twilio, Inc. - Class A (a) ...... 332,061 130,885,164 Internet & Direct Marketing Retail—0.0% 504,710,536 Flipkart Escrow Receivable † (a) (c) (d) (Cost $0) ...... 60,812 24,933 Leisure Products—1.9% Peloton Interactive, Inc. - Class A (a) (b) ...... 405,664 50,310,449

See accompanying notes to financial statements. BHFTI-269 Brighthouse Funds Trust I Morgan Stanley Discovery Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Short-Term Investment—3.4%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreement—3.4% Commercial Paper—(Continued) Fixed Income Clearing Corp. Bedford Row Funding Corp. Repurchase Agreement dated 06/30/21 at 0.000%, due on 0.266%, 3M LIBOR + 0.080%, 10/21/21 (f) ...... 6,000,000 $ 6,002,436 07/01/21 with a maturity value of $89,341,389; 6,722,419 collateralized by U.S. Treasury Note at 0.375%, maturing 04/15/24, with a market value of $91,128,315...... 89,341,389 $ 89,341,389 Repurchase Agreements—10.3% Total Short-Term Investments Barclays Bank plc (Cost $89,341,389) ...... 89,341,389 Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/01/21 with a maturity value of $3,100,017; collateralized by various Common Stock with an aggregate Securities Lending Reinvestments (e)—25.4% market value of $3,444,709...... 3,100,000 3,100,000 Barclays Capital, Inc. Certificates of Deposit—7.4% Repurchase Agreement dated 06/30/21 at 0.030%, due on Agricultural Bank of China 07/01/21 with a maturity value of $11,378,793; 0.100%, 07/01/21 ...... 3,600,000 3,599,996 collateralized by U.S. Treasury Obligations at 0.000%, Bank of Montreal (Chicago) maturity dates ranging from 05/15/29 - 11/15/43, and an 0.176%, 1M BSBY + 0.120%, 12/01/21 (f) ...... 12,000,000 12,000,149 aggregate market value of $11,606,359...... 11,378,783 11,378,783 0.222%, 3M LIBOR + 0.060%, 08/10/21 (f) ...... 5,000,000 5,000,435 BofA Securities, Inc. Barclays Bank plc Repurchase Agreement dated 06/30/21 at 0.360%, due on 0.100%, 09/09/21 ...... 22,000,000 21,998,262 08/04/21 with a maturity value of $10,003,500; Cooperatieve Rabobank UA collateralized by various Common Stock with an aggregate 0.228%, 3M LIBOR + 0.040%, 01/11/22 (f) ...... 10,000,000 10,002,900 market value of $11,000,002...... 10,000,000 10,000,000 Credit Industriel et Commercial Cantor Fitzgerald & Co. Zero Coupon, 10/12/21 ...... 19,991,121 19,991,800 Repurchase Agreement dated 06/30/21 at 0.050%, due on Industrial & Commercial Bank of China Ltd. 07/01/21 with a maturity value of $35,750,050; 0.110%, 07/22/21 ...... 15,000,000 14,999,355 collateralized by U.S. Government Agency Obligations with Mizuho Bank, Ltd. rates ranging from 0.920% - 7.500%, maturity dates ranging 0.200%, 09/14/21 ...... 15,000,000 15,001,890 from 11/01/23 - 06/20/71, and an aggregate market value Natixis S.A. (New York) of $36,465,000...... 35,750,000 35,750,000 0.208%, 3M LIBOR + 0.040%, 02/11/22 (f) ...... 11,000,000 10,999,824 Citigroup Global Markets, Inc. Oversea-Chinese Banking Corp., Ltd. Repurchase Agreement dated 06/30/21 at 0.060%, due on 0.167%, 3M LIBOR + 0.020%, 03/25/22 (f) ...... 5,000,000 5,000,020 07/01/21 with a maturity value of $10,000,017; Rabobank International London collateralized by U.S. Treasury Obligations with rates ranging 0.266%, 3M LIBOR + 0.080%, 07/30/21 (f) ...... 5,500,000 5,500,825 from 0.125% - 6.125%, maturity dates ranging from Royal Bank of Canada New York 08/15/29 - 02/15/31, and an aggregate market value of 0.221%, 3M LIBOR + 0.090%, 12/02/21 (f) ...... 5,000,000 5,002,255 $10,200,003...... 10,000,000 10,000,000 0.240%, 3M LIBOR + 0.040%, 10/05/21 (f) ...... 5,000,000 5,000,885 Repurchase Agreement dated 06/30/21 at 0.430%, due on Sumitomo Mitsui Banking Corp. 08/04/21 with a maturity value of $4,001,672; 0.156%, 1M LIBOR + 0.060%, 12/17/21 (f) ...... 15,000,000 14,999,970 collateralized by U.S. Treasury Obligations at 2.000%, Sumitomo Mitsui Trust Bank, Ltd. maturing 11/30/22, and various Common Stock with an Zero Coupon, 08/09/21 ...... 999,323 999,850 aggregate market value of $4,392,910...... 4,000,000 4,000,000 Zero Coupon, 09/20/21 ...... 9,987,358 9,996,800 Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.060%, 07/06/21 ...... 10,000,000 9,999,930 08/04/21 with a maturity value of $32,013,378; Sumitomo Mitsui Trust Bank (London) collateralized by U.S. Treasury Obligations at 0.125%, Zero Coupon, 09/01/21 ...... 2,998,527 2,999,250 maturing 05/31/23, and various Common Stock with an Zero Coupon, 10/15/21 ...... 4,997,798 4,997,900 aggregate market value of $35,189,763...... 32,000,000 32,000,000 Svenska Handelsbanken AB Deutsche Bank AG, London 0.220%, 3M LIBOR + 0.070%, 11/19/21 (f) ...... 1,000,000 1,000,242 Repurchase Agreement dated 06/30/21 at 0.170%, due on Toronto-Dominion Bank 07/01/21 with a maturity value of $5,700,027; 0.267%, 3M LIBOR + 0.070%, 10/08/21 (f) ...... 15,000,000 14,998,673 collateralized by U.S. Treasury and Foreign Obligations with 194,091,211 rates ranging from 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 03/11/31, and an aggregate market value Commercial Paper—0.2% of $5,814,005...... 5,700,000 5,700,000 Antalis S.A. 0.200%, 07/06/21 ...... 719,632 719,983

See accompanying notes to financial statements. BHFTI-270 Brighthouse Funds Trust I Morgan Stanley Discovery Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (e)—(Continued)

Principal Security Description Amount* Value Security Description Shares Value

Repurchase Agreements—(Continued) Mutual Funds—4.6% Deutsche Bank AG, London BlackRock Liquidity Funds FedFund, Institutional Shares Repurchase Agreement dated 06/30/21 at 0.230%, due on 0.030% (g) ...... 50,000,000 $ 50,000,000 07/01/21 with a maturity value of $40,000,256; Goldman Sachs Financial Square Government Fund, collateralized by various Common Stock with an aggregate Institutional Shares market value of $44,449,113...... 40,000,000 $ 40,000,000 0.020% (g) ...... 60,000,000 60,000,000 HSBC Bank plc STIT-Government & Agency Portfolio, Institutional Class Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.030% (g) ...... 10,000,000 10,000,000 07/01/21 with a maturity value of $33,100,092; 120,000,000 collateralized by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from Total Securities Lending Reinvestments 08/31/21 - 02/15/50, and an aggregate market value of (Cost $665,932,813) ...... 665,942,413 $33,775,605...... 33,100,000 33,100,000 Total Purchased Options—0.0% (h) National Bank of Canada (Cost $11,043,531) ...... 451,749 Repurchase Agreement dated 06/30/21 at 0.210%, due on 07/07/21 with a maturity value of $50,002,042; Total Investments—126.1% collateralized by various Common Stock with an aggregate (Cost $2,705,464,040) ...... 3,299,179,880 market value of $55,555,880...... 50,000,000 50,000,000 Other assets and liabilities (net)—(26.1)% ...... (683,469,532) NBC Global Finance, Ltd. Net Assets—100.0% ...... $2,615,710,348 Repurchase Agreement dated 06/30/21 at 0.245%, due on 07/07/21 with a maturity value of $6,700,319; collateralized by U.S. Treasury Obligations with rates ranging * Principal and notional amounts stated in U.S. dollars unless otherwise noted. from 1.875% - 3.000%, maturity dates ranging from † Restricted securities are not registered under the Securities Act of 1933 and are subject 07/31/22 - 02/15/49, and various Common Stock with an to legal restrictions on resale. These securities generally may be resold in transactions aggregate market value of $7,444,447...... 6,700,000 6,700,000 exempt from registration or to the public if the securities are subsequently registered. Repurchase Agreement dated 06/30/21 at 0.260%, due on Disposal of these securities may involve time-consuming negotiations and prompt sale 07/07/21 with a maturity value of $3,000,152; at an acceptable price may be difficult. As of June 30, 2021, the market value of collateralized by U.S. Treasury Obligations with rates ranging restricted securities was $83,934,066, which is 3.2% of net assets. See details shown in from 2.125% - 3.875%, maturity dates ranging from the Restricted Securities table that follows. 12/31/23 - 04/15/29, and various Common Stock with an (a) Non-income producing security. aggregate market value of $3,333,922...... 3,000,000 3,000,000 (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Royal Bank of Canada of securities loaned was $716,426,631 and the collateral received consisted of cash in Repurchase Agreement dated 06/30/21 at 0.360%, due on the amount of $665,922,542 and non-cash collateral with a value of $73,636,246. The 08/04/21 with a maturity value of $10,003,500; cash collateral investments are disclosed in the Schedule of Investments and categorized collateralized by various Common Stock with an aggregate as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. market value of $11,111,222...... 10,000,000 10,000,000 government securities that are held in safe-keeping by the lending agent, or a third- Societe Generale party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral Repurchase Agreement dated 06/30/21 at 0.185%, due on is excluded from the Statement of Assets and Liabilities. 07/01/21 with a maturity value of $14,400,074; (c) Security was valued in good faith under procedures approved by the Board of Trustees. collateralized by various Common Stock with an aggregate As of June 30, 2021, these securities represent 3.2% of net assets. market value of $16,000,509...... 14,400,000 14,400,000 (d) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. 269,128,783 (e) Represents investment of cash collateral received from securities on loan as of June 30, 2021. Time Deposits—2.9% (f) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. ABN AMRO Bank NV Maturity date shown for callable securities reflects the earliest possible call date. For 0.080%, 07/01/21 ...... 20,000,000 20,000,000 securities based on a published reference index and spread, the index and spread are Landesbank Baden-Wuettertemberg (London) indicated in the description above. For certain variable rate securities, the coupon rate is 0.130%, 07/01/21 ...... 9,000,000 9,000,000 determined by the issuer/agent based on current market conditions. For certain asset- National Bank of Canada and mortgage-backed securities, the coupon rate may fluctuate based on changes of the 0.130%, OBFR + 0.050%, 07/07/21 (f) ...... 20,000,000 20,000,000 underlying collateral or prepayments of principal. These securities do not indicate a Rabobank (New York) reference index and spread in their description above. 0.050%, 07/01/21 ...... 12,000,000 12,000,000 (g) The rate shown represents the annualized seven-day yield as of June 30, 2021. Royal Bank of Canada (h) For a breakout of open positions, see details shown in the Purchased Options table that 0.030%, 07/01/21 ...... 15,000,000 15,000,000 follows. 76,000,000

See accompanying notes to financial statements. BHFTI-271 Brighthouse Funds Trust I Morgan Stanley Discovery Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Acquisition Restricted Securities Date Shares Cost Value Agilon Health, Inc...... 11/07/18 1,294,600 $ 4,895,659 $49,020,285 Flipkart Escrow Receivable ...... 08/20/18 60,812 — 24,933 Good Works Acquisition Corp...... 03/04/21 1,260,988 12,609,880 11,292,148 Ironsource, Ltd...... 03/19/21 2,365,584 23,655,840 23,596,700 $83,934,066

Purchased Options

Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ Foreign Currency Options Price Counterparty Date Contracts Amount Paid Value (Depreciation) USD Call/CNH Put ...... CNH 8.060 NWM 07/23/21 377,505,548 USD 377,505,548 $ 2,002,289 $ 377 $ (2,001,912) USD Call/CNH Put ...... CNH 7.995 BNP 09/10/21 328,682,301 USD 328,682,301 1,990,363 329 (1,990,034) USD Call/CNH Put ...... CNH 7.641 BNP 11/11/21 392,236,912 USD 392,236,912 2,130,103 6,668 (2,123,435) USD Call/CNH Put ...... CNH 7.449 BNP 01/06/22 483,344,853 USD 483,344,853 2,580,085 131,470 (2,448,615) USD Call/CNH Put ...... CNH 7.570 GSI 03/30/22 471,242,125 USD 471,242,125 2,340,691 312,905 (2,027,786) Totals ...... $11,043,531 $451,749 $(10,591,782)

Glossary of Abbreviations

Counterparties (BNP)— BNP Paribas S.A. (GSI)— Goldman Sachs International (NWM)— NatWest Markets plc

Currencies (CNH)— Chinese Renminbi (USD)— United States Dollar

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

See accompanying notes to financial statements. BHFTI-272 Brighthouse Funds Trust I Morgan Stanley Discovery Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $ 68,913,458 $ — $ — $ 68,913,458 Biotechnology ...... 42,036,725 — — 42,036,725 Entertainment ...... 209,790,311 — — 209,790,311 Health Care Providers & Services ...... 109,670,175 49,020,285 — 158,690,460 Health Care Technology ...... 137,733,685 — — 137,733,685 Interactive Media & Services ...... 350,556,806 — — 350,556,806 Internet & Direct Marketing Retail ...... 334,584,386 — — 334,584,386 IT Services ...... 504,710,536 — — 504,710,536 Leisure Products ...... 50,310,449 — — 50,310,449 Life Sciences Tools & Services ...... 54,355,551 — — 54,355,551 Metals & Mining ...... 7,475,033 — — 7,475,033 Pharmaceuticals ...... 78,274,299 — — 78,274,299 Real Estate Management & Development ...... 37,860,086 — — 37,860,086 Software ...... 335,307,796 23,596,700 — 358,904,496 Special Purpose Acquisition Companies ...... 26,662,654 11,292,148 — 37,954,802 Specialty Retail ...... 109,813,283 — — 109,813,283 Total Common Stocks ...... 2,458,055,233 83,909,133 — 2,541,964,366 Total Preferred Stock* ...... 1,455,030 — — 1,455,030 Total Escrow Shares* ...... — — 24,933 24,933 Total Short-Term Investment* ...... — 89,341,389 — 89,341,389 Securities Lending Reinvestments Certificates of Deposit ...... — 194,091,211 — 194,091,211 Commercial Paper ...... — 6,722,419 — 6,722,419 Repurchase Agreements ...... — 269,128,783 — 269,128,783 Time Deposits ...... — 76,000,000 — 76,000,000 Mutual Funds ...... 120,000,000 — — 120,000,000 Total Securities Lending Reinvestments ...... 120,000,000 545,942,413 — 665,942,413 Total Purchased Options at Value ...... — 451,749 — 451,749 Total Investments ...... $2,579,510,263 $ 719,644,684 $24,933 $3,299,179,880 Collateral for Securities Loaned (Liability) ...... $ — $(665,922,542) $ — $ (665,922,542)

* 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 June 30, 2021 is not presented.

During the period ended June 30, 2021, a transfer from Level 3 to Level 2 in the amount of $7,631,408 was due to the initiation of trading activity which resulted in the availability of significant observable inputs.

See accompanying notes to financial statements. BHFTI-273 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—20.6% of Net Assets

Shares/ Principal Security Description Amount* Value Security Description Shares Value

Sovereign—20.6% Auto Components—(Continued) Deutsche Bundesrepublik Inflation Linked Bond Stanley Electric Co., Ltd...... 600 $ 17,354 0.500%, 04/15/30 (EUR) (a) ...... 7,476,671 $ 10,692,636 Sumitomo Electric Industries, Ltd...... 700 10,323 French Republic Government Bond OAT 102,618 3.400%, 07/25/29 (EUR) (a) ...... 7,626,130 12,830,774 Italy Buoni Poliennali Del Tesoro Automobiles—0.0% 1.250%, 09/15/32 (144A) (EUR) (a) ...... 3,403,168 4,771,266 Ferrari NV ...... 35 7,225 2.600%, 09/15/23 (144A) (EUR) (a) ...... 1,701,686 2,202,699 Ford Motor Co. (b) ...... 1,063 15,796 United Kingdom Gilt Inflation Linked Bond Honda Motor Co., Ltd...... 200 6,412 0.625%, 03/22/40 (GBP) (a) ...... 10,285,778 23,900,868 Isuzu Motors, Ltd...... 700 9,285 Total Foreign Government Renault S.A. (b) ...... 162 6,549 (Cost $52,393,250) ...... 54,398,243 Stellantis NV (Milan-Traded Shares) ...... 854 16,849 Subaru Corp...... 500 9,860 Common Stocks—11.2% 71,976 Banks—0.3% Aerospace & Defense—0.1% ABN AMRO Bank NV (b) ...... 1,431 17,274 Elbit Systems, Ltd...... 165 21,364 Banco Santander S.A. (b) ...... 2,376 9,059 General Dynamics Corp...... 86 16,190 Bank Leumi Le-Israel B.M. (b) ...... 5,327 40,467 Howmet Aerospace, Inc. (b) ...... 462 15,925 Bank of America Corp...... 695 28,655 Huntington Ingalls Industries, Inc...... 66 13,910 Bank of East Asia, Ltd. (The) ...... 2,800 5,191 L3Harris Technologies, Inc...... 58 12,537 Bank of Montreal ...... 294 30,135 Lockheed Martin Corp...... 59 22,323 Bank of Nova Scotia (The) ...... 409 26,600 MTU Aero Engines AG ...... 22 5,451 BOC Hong Kong Holdings, Ltd...... 6,000 20,338 Northrop Grumman Corp...... 68 24,713 Canadian Imperial Bank of Commerce ...... 295 33,581 Raytheon Technologies Corp...... 372 31,735 Chiba Bank, Ltd. (The) ...... 1,300 7,826 Safran S.A...... 66 9,157 Citizens Financial Group, Inc...... 100 4,587 Teledyne Technologies, Inc. (b) ...... 21 8,796 Comerica, Inc...... 216 15,409 Textron, Inc...... 178 12,241 Danske Bank A/S ...... 1,002 17,615 TransDigm Group, Inc. (b) ...... 21 13,593 Fifth Third Bancorp ...... 693 26,493 207,935 Huntington Bancshares, Inc...... 1,176 16,782 Israel Discount Bank, Ltd. - Class A (b) ...... 1,713 8,157 Air Freight & Logistics—0.0% Japan Post Bank Co., Ltd...... 2,200 18,427 C.H. Robinson Worldwide, Inc...... 211 19,764 KeyCorp ...... 1,042 21,517 DSV Panalpina A/S ...... 67 15,622 Mitsubishi UFJ Financial Group, Inc...... 3,700 19,974 Expeditors International of Washington, Inc...... 329 41,651 Mizrahi Tefahot Bank, Ltd. (b) ...... 747 23,001 United Parcel Service, Inc. - Class B ...... 78 16,222 Mizuho Financial Group, Inc...... 1,950 27,477 People’s United Financial, Inc...... 2,608 44,701 Yamato Holdings Co., Ltd...... 600 17,062 Raiffeisen Bank International AG ...... 542 12,264 110,321 Regions Financial Corp...... 748 15,095 Resona Holdings, Inc...... 7,900 30,285 Airlines—0.0% Royal Bank of Canada ...... 373 37,791 Air Canada (b) ...... 392 8,064 Shizuoka Bank, Ltd. (The) ...... 1,700 13,094 Alaska Air Group, Inc. (b) ...... 228 13,751 Skandinaviska Enskilda Banken AB - Class A ...... 1,128 14,562 American Airlines Group, Inc. (b) ...... 353 7,487 Sumitomo Mitsui Financial Group, Inc...... 500 17,207 ANA Holdings, Inc. (b) ...... 1,300 30,552 SVB Financial Group (b) ...... 28 15,580 Delta Air Lines, Inc. (b) ...... 247 10,685 Toronto-Dominion Bank (The) ...... 524 36,721 Southwest Airlines Co. (b) ...... 310 16,458 Truist Financial Corp...... 478 26,529 U.S. Bancorp ...... 317 18,060 86,997 Wells Fargo & Co...... 75 3,397 Zions Bancorp N.A...... 255 13,479 Auto Components—0.0% BorgWarner, Inc...... 411 19,950 717,330 Denso Corp...... 300 20,456 Magna International, Inc...... 373 34,535 Beverages—0.3% Anheuser-Busch InBev S.A...... 304 21,892 Asahi Group Holdings, Ltd...... 500 23,354 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-274 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Beverages—(Continued) Capital Markets—(Continued) Brown-Forman Corp. - Class B ...... 381 $ 28,552 ASX, Ltd...... 298 $ 17,371 Budweiser Brewing Co. APAC, Ltd...... 1,800 5,666 Bank of New York Mellon Corp. (The) ...... 286 14,652 Carlsberg AS - Class B ...... 223 41,631 Cboe Global Markets, Inc...... 116 13,810 Coca-Cola Co. (The) ...... 625 33,819 CME Group, Inc...... 61 12,973 Coca-Cola Europacific Partners plc ...... 298 17,677 Credit Suisse Group AG ...... 573 5,997 Coca-Cola HBC AG (b) ...... 445 16,094 Daiwa Securities Group, Inc...... 3,000 16,418 Constellation Brands, Inc. - Class A ...... 184 43,036 Deutsche Boerse AG ...... 142 24,786 Davide Campari-Milano NV ...... 2,465 33,064 EQTAB...... 362 13,145 Diageo plc ...... 846 40,543 Franklin Resources, Inc...... 558 17,850 Heineken Holding NV ...... 193 19,444 Intercontinental Exchange, Inc...... 152 18,042 Heineken NV ...... 157 19,033 MarketAxess Holdings, Inc...... 15 6,954 Ito En, Ltd...... 1,300 77,099 Moody’s Corp...... 68 24,641 Kirin Holdings Co., Ltd...... 900 17,543 Morgan Stanley ...... 307 28,149 Molson Coors Beverage Co. - Class B (b) ...... 858 46,066 Natixis S.A...... 2,735 12,968 Monster Beverage Corp. (b) ...... 604 55,175 Nomura Holdings, Inc...... 1,300 6,604 PepsiCo, Inc...... 264 39,117 Northern Trust Corp...... 175 20,233 Pernod Ricard S.A...... 165 36,623 Raymond James Financial, Inc...... 184 23,902 Remy Cointreau S.A...... 156 32,221 S&P Global, Inc...... 75 30,784 Suntory Beverage & Food, Ltd...... 900 33,778 Singapore Exchange, Ltd...... 1,200 9,990 Treasury Wine Estates, Ltd...... 3,529 30,906 State Street Corp...... 189 15,551 712,333 T. Rowe Price Group, Inc...... 106 20,985 UBS Group AG ...... 1,081 16,552 Biotechnology—0.1% 405,185 AbbVie, Inc...... 277 31,201 Alexion Pharmaceuticals, Inc. (b) ...... 119 21,862 Chemicals—0.4% Amgen, Inc...... 95 23,156 Air Liquide S.A...... 205 35,921 Argenx SE (b) ...... 130 39,164 Air Products & Chemicals, Inc...... 114 32,796 Biogen, Inc. (b) ...... 70 24,239 Akzo Nobel NV ...... 262 32,377 CSL, Ltd...... 131 28,025 Albemarle Corp...... 222 37,398 Genmab A/S (b) ...... 93 37,933 Arkema S.A...... 111 13,936 Gilead Sciences, Inc...... 390 26,855 Celanese Corp...... 185 28,046 Grifols S.A...... 1,405 38,064 CF Industries Holdings, Inc...... 777 39,977 Incyte Corp. (b) ...... 200 16,826 Chr Hansen Holding A/S ...... 260 23,469 PeptiDream, Inc. (b) ...... 300 14,712 Clariant AG ...... 402 7,996 Regeneron Pharmaceuticals, Inc. (b) ...... 47 26,251 Corteva, Inc...... 1,073 47,588 Vertex Pharmaceuticals, Inc. (b) ...... 100 20,163 Croda International plc ...... 383 39,067 348,451 Dow, Inc...... 495 31,324 DuPont de Nemours, Inc...... 151 11,689 Building Products—0.1% Eastman Chemical Co...... 280 32,690 A.O. Smith Corp...... 243 17,511 Ecolab, Inc...... 148 30,484 AGC, Inc...... 100 4,198 EMS-Chemie Holding AG ...... 17 16,704 Assa Abloy AB - Class B ...... 828 24,947 FMC Corp...... 321 34,732 Carrier Global Corp...... 217 10,546 Givaudan S.A...... 8 37,208 Fortune Brands Home & Security, Inc...... 211 21,018 International Flavors & Fragrances, Inc...... 389 58,117 Johnson Controls International plc ...... 346 23,746 Johnson Matthey plc ...... 442 18,816 Kingspan Group plc ...... 231 21,820 Linde plc ...... 132 38,161 Lixil Corp...... 400 10,340 LyondellBasell Industries NV - Class A ...... 277 28,495 Masco Corp...... 184 10,839 Mitsubishi Chemical Holdings Corp...... 1,800 15,088 Rockwool International A/S - B Shares ...... 29 14,152 Mitsui Chemicals, Inc...... 500 17,214 Trane Technologies plc ...... 162 29,831 Mosaic Co. (The) ...... 1,020 32,548 Xinyi Glass Holdings, Ltd...... 10,000 40,763 Nippon Paint Holdings Co., Ltd...... 975 13,226 Nippon Sanso Holdings Corp...... 800 16,389 229,711 Nissan Chemical Corp...... 300 14,683 Novozymes A/S - B Shares ...... 354 26,716 Capital Markets—0.2% Nutrien, Ltd...... 331 20,056 Ameriprise Financial, Inc...... 105 26,132 PPG Industries, Inc...... 292 49,573 Amundi S.A...... 76 6,696 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-275 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Chemicals—(Continued) Containers & Packaging—0.1% Sherwin-Williams Co. (The) ...... 132 $ 35,963 AMCOR plc ...... 2,640 $ 30,254 Sika AG ...... 62 20,273 Avery Dennison Corp...... 275 57,816 Solvay S.A...... 129 16,424 Ball Corp...... 379 30,707 Sumitomo Chemical Co., Ltd...... 4,000 21,150 International Paper Co...... 780 47,822 Symrise AG ...... 201 28,021 Packaging Corp. of America ...... 269 36,428 Toray Industries, Inc...... 2,200 14,587 Sealed Air Corp...... 695 41,179 Tosoh Corp...... 1,000 17,238 Smurfit Kappa Group plc ...... 619 33,582 Umicore S.A...... 245 14,977 WestRock Co...... 847 45,077 Yara International ASA ...... 278 14,643 322,865 1,065,760 Distributors—0.0% Commercial Services & Supplies—0.1% Genuine Parts Co...... 133 16,820 Brambles, Ltd...... 1,541 13,219 LKQ Corp. (b) ...... 668 32,879 Cintas Corp...... 40 15,280 Pool Corp...... 21 9,632 GFL Environmental, Inc...... 314 10,036 59,331 Rentokil Initial plc ...... 1,860 12,742 Republic Services, Inc...... 273 30,033 Diversified Financial Services—0.0% Ritchie Bros Auctioneers, Inc...... 246 14,584 Berkshire Hathaway, Inc. - Class B (b) ...... 69 19,176 Rollins, Inc...... 744 25,445 Groupe Bruxelles Lambert S.A...... 151 16,889 Sohgo Security Services Co., Ltd...... 400 18,213 Investor AB - B Shares ...... 1,384 31,883 Waste Management, Inc...... 145 20,316 Sofina S.A...... 53 22,872 159,868 Wendel S.E...... 163 21,902 112,722 Communications Equipment—0.1% Arista Networks, Inc. (b) ...... 54 19,565 Diversified Telecommunication Services—0.5% Cisco Systems, Inc...... 486 25,758 AT&T, Inc...... 2,197 63,230 F5 Networks, Inc. (b) ...... 138 25,759 BCE, Inc...... 338 16,668 Juniper Networks, Inc...... 721 19,719 BT Group plc (b) ...... 10,412 27,963 Motorola Solutions, Inc...... 89 19,300 Cellnex Telecom S.A...... 268 17,073 Nokia Oyj (b) ...... 4,106 21,988 Deutsche Telekom AG ...... 1,851 39,132 Telefonaktiebolaget LM Ericsson - B Shares ...... 2,475 31,123 Elisa Oyj ...... 446 26,612 163,212 HKT Trust & HKT, Ltd...... 34,000 46,330 Iliad S.A...... 206 30,195 Construction & Engineering—0.0% Infrastrutture Wireless Italiane S.p.A...... 1,470 16,620 ACS Actividades de Construccion y Servicios S.A...... 414 11,088 Koninklijke KPN NV ...... 13,605 42,503 Ferrovial S.A...... 334 9,805 Lumen Technologies, Inc...... 5,869 79,760 Quanta Services, Inc...... 222 20,106 Nippon Telegraph & Telephone Corp...... 2,100 54,702 Vinci S.A...... 59 6,300 Orange S.A...... 4,738 54,031 WSP Global, Inc...... 217 25,331 Proximus SADP ...... 2,395 46,276 72,630 Singapore Telecommunications, Ltd...... 123,500 210,775 Spark New Zealand, Ltd...... 9,951 33,379 Construction Materials—0.1% Swisscom AG ...... 574 327,750 CRHplc...... 482 24,455 Telecom Italia S.p.A...... 14,841 7,374 HeidelbergCement AG ...... 232 19,905 Telefonica Deutschland Holding AG ...... 13,323 35,157 Holcim, Ltd. (b) ...... 321 19,259 Telenor ASA ...... 899 15,169 James Hardie Industries plc ...... 309 10,495 Telia Co. AB ...... 13,363 59,320 Martin Marietta Materials, Inc...... 132 46,439 Telstra Corp., Ltd...... 4,846 13,667 Vulcan Materials Co...... 224 38,992 TELUS Corp...... 771 17,291 United Internet AG ...... 686 28,054 159,545 Verizon Communications, Inc...... 1,847 103,487

Consumer Finance—0.0% 1,412,518 Isracard, Ltd. (b) ...... 1 3 Synchrony Financial ...... 391 18,971 Electric Utilities—0.9% Alliant Energy Corp...... 1,779 99,197 18,974 American Electric Power Co., Inc...... 872 73,763 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-276 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Electric Utilities—(Continued) Electronic Equipment, Instruments & Components—(Continued) AusNet Services, Ltd...... 30,001 $ 39,297 Murata Manufacturing Co., Ltd...... 200 $ 15,262 Chubu Electric Power Co., Inc...... 6,900 84,092 TDK Corp...... 73 8,869 CK Infrastructure Holdings, Ltd...... 17,665 105,341 TE Connectivity, Ltd...... 227 30,693 CLP Holdings, Ltd...... 29,500 291,580 Venture Corp., Ltd...... 2,000 28,612 Duke Energy Corp...... 686 67,722 Yokogawa Electric Corp...... 500 7,410 Edison International ...... 1,127 65,163 Zebra Technologies Corp. - Class A (b) ...... 33 17,473 Electricite de France S.A...... 3,378 46,122 342,766 Elia Group S.A...... 232 24,479 Endesa S.A...... 1,050 25,472 Energy Equipment & Services—0.1% Enel S.p.A...... 2,139 19,874 Baker Hughes Co...... 1,387 31,721 Entergy Corp...... 571 56,929 Halliburton Co...... 895 20,693 Evergy, Inc...... 1,157 69,918 NOV, Inc. (b) ...... 1,801 27,591 Eversource Energy ...... 814 65,315 Schlumberger NV ...... 993 31,786 Exelon Corp...... 1,499 66,421 Tenaris S.A...... 2,159 23,641 FirstEnergy Corp...... 1,310 48,745 Fortis, Inc...... 372 16,466 135,432 Fortum Oyj ...... 931 25,677 HK Electric Investments & HK Electric Investments, Ltd...... 200,500 203,230 Entertainment—0.2% Iberdrola S.A...... 1,060 12,917 Activision Blizzard, Inc...... 566 54,019 Kansai Electric Power Co., Inc. (The) ...... 12,100 115,009 Bollore S.A...... 4,819 25,842 NextEra Energy, Inc...... 672 49,244 Capcom Co., Ltd...... 1,000 29,263 NRG Energy, Inc...... 1,373 55,332 Electronic Arts, Inc...... 347 49,909 Origin Energy, Ltd...... 2,287 7,702 Koei Tecmo Holdings Co., Ltd...... 480 23,429 Orsted A/S ...... 302 42,486 Konami Holdings Corp...... 300 18,002 Pinnacle West Capital Corp...... 832 68,199 Live Nation Entertainment, Inc. (b) ...... 441 38,627 Power Assets Holdings, Ltd...... 29,000 177,977 Netflix, Inc. (b) ...... 75 39,616 PPL Corp...... 2,238 62,597 Nexon Co., Ltd...... 1,300 28,982 Red Electrica Corp. S.A...... 687 12,750 Nintendo Co., Ltd...... 41 23,856 Southern Co. (The) ...... 1,166 70,555 Sea, Ltd. (ADR) (b) ...... 334 91,716 SSEplc...... 1,792 37,228 Square Enix Holdings Co., Ltd...... 400 19,845 Terna SPA...... 2,694 20,073 Take-Two Interactive Software, Inc. (b) ...... 318 56,292 Tohoku Electric Power Co., Inc...... 13,000 101,791 Toho Co., Ltd...... 800 32,972 Tokyo Electric Power Co. Holdings, Inc. (b) ...... 18,200 54,047 UBISOFT Entertainment S.A. (b) ...... 580 40,610 Verbund AG ...... 98 9,021 Vivendi SE ...... 338 11,356 Xcel Energy, Inc...... 1,125 74,115 Walt Disney Co. (The) (b) ...... 261 45,876 2,465,846 630,212

Electrical Equipment—0.1% Equity Real Estate Investment Trusts—0.2% ABB, Ltd...... 881 29,905 Alexandria Real Estate Equities, Inc...... 98 17,830 Ballard Power Systems, Inc. (b) ...... 537 9,738 Ascendas Real Estate Investment Trust ...... 4,100 9,010 Eaton Corp. plc ...... 241 35,711 AvalonBay Communities, Inc...... 54 11,269 Emerson Electric Co...... 316 30,412 Canadian Apartment Properties ...... 312 14,628 Rockwell Automation, Inc...... 79 22,596 CapitaLand Integrated Commercial Trust ...... 6,300 9,790 Siemens Gamesa Renewable Energy S.A. (b) ...... 300 10,016 Covivio ...... 175 14,972 Crown Castle International Corp...... 131 25,558 138,378 Daiwa House REIT Investment Corp...... 9 26,535 Digital Realty Trust, Inc...... 90 13,541 Electronic Equipment, Instruments & Components—0.1% Duke Realty Corp...... 426 20,171 Amphenol Corp. - Class A ...... 478 32,700 Equinix, Inc...... 18 14,447 Corning, Inc...... 617 25,235 Equity Residential ...... 429 33,033 Halma plc ...... 802 29,894 Essex Property Trust, Inc...... 49 14,701 Hamamatsu Photonics KK ...... 500 30,144 Extra Space Storage, Inc...... 129 21,133 Hirose Electric Co., Ltd...... 210 30,705 Federal Realty Investment Trust ...... 179 20,973 Ibiden Co., Ltd...... 300 16,155 Gecina S.A...... 100 15,326 IPG Photonics Corp. (b) ...... 104 21,920 GLP J-REIT ...... 8 13,802 Keyence Corp...... 52 26,231 Healthpeak Properties, Inc...... 366 12,184 Keysight Technologies, Inc. (b) ...... 139 21,463 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-277 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Equity Real Estate Investment Trusts—(Continued) Food Products—0.5% Host Hotels & Resorts, Inc. (b) ...... 799 $ 13,655 a2 Milk Co., Ltd. (b) ...... 1,860 $ 8,372 Iron Mountain, Inc...... 293 12,400 Ajinomoto Co., Inc...... 3,100 80,460 Japan Metropolitan Fund Invest ...... 18 19,503 Archer-Daniels-Midland Co...... 946 57,328 Japan Real Estate Investment Corp...... 2 12,294 Associated British Foods plc ...... 716 21,982 Kimco Realty Corp...... 1,166 24,311 Barry Callebaut AG ...... 20 46,471 Link REIT ...... 1,600 15,480 Campbell Soup Co...... 1,427 65,057 Mid-America Apartment Communities, Inc...... 124 20,884 Conagra Brands, Inc...... 1,175 42,746 Mirvac Group ...... 7,066 15,403 Danone S.A...... 252 17,748 Nippon Building Fund, Inc...... 2 12,474 General Mills, Inc...... 1,006 61,296 Nippon Prologis REIT, Inc...... 11 35,005 Hershey Co. (The) ...... 328 57,131 Nomura Real Estate Master Fund, Inc...... 7 11,220 Hormel Foods Corp...... 1,839 87,812 Orix JREIT, Inc...... 6 11,544 J.M. Smucker Co. (The) ...... 645 83,573 Prologis, Inc...... 203 24,265 Kellogg Co...... 1,113 71,599 Public Storage ...... 55 16,538 Kerry Group plc - Class A ...... 799 111,601 Realty Income Corp...... 177 11,813 Kraft Heinz Co. (The) ...... 1,180 48,120 Regency Centers Corp...... 217 13,903 Lamb Weston Holdings, Inc...... 446 35,974 Simon Property Group, Inc...... 99 12,918 McCormick & Co., Inc...... 442 39,037 UDR, Inc...... 253 12,392 MEIJI Holdings Co., Ltd...... 500 29,925 United Urban Investment Corp...... 5 7,231 Mondelez International, Inc. - Class A ...... 740 46,206 Vicinity Centres ...... 3,449 3,980 Mowi ASA ...... 808 20,554 Vornado Realty Trust ...... 240 11,201 Nestle S.A...... 477 59,403 Welltower, Inc...... 160 13,296 NH Foods, Ltd...... 300 11,662 Weyerhaeuser Co...... 560 19,275 Nisshin Seifun Group, Inc...... 1,000 14,624 659,888 Nissin Foods Holdings Co., Ltd...... 500 36,002 Orkla ASA ...... 1,360 13,854 Food & Staples Retailing—0.4% Saputo, Inc...... 1,060 31,614 Aeon Co., Ltd...... 2,600 69,833 Toyo Suisan Kaisha, Ltd...... 800 30,782 Alimentation Couche-Tard, Inc. - Class B ...... 376 13,816 Tyson Foods, Inc. - Class A ...... 594 43,813 Carrefour S.A...... 714 14,045 WH Group, Ltd...... 25,500 22,925 Coles Group, Ltd...... 2,396 30,716 Wilmar International, Ltd...... 5,400 18,098 Cosmos Pharmaceutical Corp...... 139 20,397 Yakult Honsha Co., Ltd...... 1,300 73,587 Costco Wholesale Corp...... 133 52,624 1,389,356 Empire Co., Ltd...... 1,658 52,297 Endeavour Group, Ltd. (b) ...... 687 3,241 Gas Utilities—0.3% Etablissements Franz Colruyt NV ...... 1,975 110,453 APA Group ...... 2,260 15,058 George Weston, Ltd...... 693 66,052 Atmos Energy Corp...... 460 44,211 ICA Gruppen AB ...... 607 28,252 Enagas S.A...... 1,099 25,390 J Sainsbury plc ...... 8,471 31,869 Hong Kong & China Gas Co., Ltd...... 155,270 241,175 Jeronimo Martins SGPS S.A...... 990 18,058 Naturgy Energy Group S.A...... 1,074 27,616 Kesko Oyj - B Shares ...... 386 14,259 Osaka Gas Co., Ltd...... 4,200 77,820 Kobe Bussan Co., Ltd...... 400 12,598 Snam S.p.A...... 6,452 37,339 Koninklijke Ahold Delhaize NV ...... 1,052 31,278 Toho Gas Co., Ltd...... 1,200 58,749 Kroger Co. (The) ...... 1,229 47,083 Tokyo Gas Co., Ltd...... 7,500 140,962 Lawson, Inc...... 1,100 50,883 Loblaw Cos., Ltd...... 1,549 95,332 668,320 Metro, Inc...... 2,319 111,180 Seven & i Holdings Co., Ltd...... 600 28,601 Health Care Equipment & Supplies—0.4% Sysco Corp...... 442 34,365 ABIOMED, Inc. (b) ...... 67 20,911 Tesco plc ...... 2,643 8,159 Alcon, Inc...... 513 35,934 Tsuruha Holdings, Inc...... 159 18,405 Align Technology, Inc. (b) ...... 29 17,719 Walgreens Boots Alliance, Inc...... 789 41,509 Ambu A/S - Class B ...... 851 32,707 Walmart, Inc...... 333 46,960 Asahi Intecc Co., Ltd...... 700 16,729 Welcia Holdings Co., Ltd...... 800 26,134 Baxter International, Inc...... 216 17,388 WM Morrison Supermarkets plc ...... 7,958 27,160 Becton Dickinson & Co...... 118 28,697 Woolworths Group, Ltd...... 687 19,622 BioMerieux ...... 353 41,028 Boston Scientific Corp. (b) ...... 655 28,008 1,125,181 Carl Zeiss Meditec AG ...... 248 47,923 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-278 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Health Care Equipment & Supplies—(Continued) Health Care Technology—0.0% Cochlear, Ltd...... 203 $ 38,328 Cerner Corp...... 294 $ 22,979 Coloplast A/S - Class B ...... 389 63,861 M3, Inc...... 141 10,304 Cooper Cos., Inc. (The) ...... 67 26,550 33,283 Danaher Corp...... 47 12,613 Demant A/S (b) ...... 481 27,153 Hotels, Restaurants & Leisure—0.2% Dentsply Sirona, Inc...... 281 17,776 Aristocrat Leisure, Ltd...... 633 20,451 DexCom, Inc. (b) ...... 34 14,518 Carnival Corp. (b) ...... 275 7,249 DiaSorin S.p.A...... 381 72,075 Chipotle Mexican Grill, Inc. (b) ...... 9 13,953 Edwards Lifesciences Corp. (b) ...... 230 23,821 Compass Group plc (b) ...... 481 10,145 Fisher & Paykel Healthcare Corp., Ltd...... 846 18,402 Darden Restaurants, Inc...... 118 17,227 GN Store Nord AS ...... 343 30,036 Domino’s Pizza, Inc...... 42 19,593 Hologic, Inc. (b) ...... 278 18,548 Entain plc (b) ...... 479 11,575 Hoya Corp...... 100 13,254 Evolution AB ...... 52 8,221 IDEXX Laboratories, Inc. (b) ...... 28 17,683 Expedia Group, Inc. (b) ...... 147 24,065 Intuitive Surgical, Inc. (b) ...... 36 33,107 Flutter Entertainment plc (b) ...... 74 13,413 Koninklijke Philips NV ...... 676 33,512 Genting Singapore, Ltd...... 23,400 14,527 Medtronic plc ...... 184 22,840 Hilton Worldwide Holdings, Inc. (b) ...... 113 13,630 Olympus Corp...... 700 13,907 La Francaise des Jeux SAEM ...... 356 20,935 ResMed, Inc...... 86 21,201 Las Vegas Sands Corp. (b) ...... 151 7,956 Siemens Healthineers AG ...... 447 27,411 Marriott International, Inc. - Class A (b) ...... 73 9,966 Smith & Nephew plc ...... 1,755 38,032 McDonald’s Corp...... 115 26,564 Sonova Holding AG ...... 94 35,372 Melco Resorts & Entertainment, Ltd. (ADR) (b) ...... 686 11,367 STERIS plc ...... 79 16,298 MGM Resorts International ...... 130 5,545 Straumann Holding AG ...... 16 25,513 Norwegian Cruise Line Holdings, Ltd. (b) ...... 127 3,735 Stryker Corp...... 116 30,129 Oriental Land Co., Ltd...... 100 14,245 Sysmex Corp...... 262 30,945 Restaurant Brands International, Inc...... 514 33,118 Teleflex, Inc...... 37 14,866 Sodexo S.A. (b) ...... 204 19,049 Terumo Corp...... 600 24,305 West Pharmaceutical Services, Inc...... 47 16,878 Starbucks Corp...... 162 18,113 Zimmer Biomet Holdings, Inc...... 155 24,927 Tabcorp Holdings, Ltd...... 5,066 19,627 Whitbread plc (b) ...... 303 13,113 1,090,905 Wynn Macau, Ltd. (b) ...... 6,800 10,701 Wynn Resorts, Ltd. (b) ...... 103 12,597 Health Care Providers & Services—0.2% Yum! Brands, Inc...... 224 25,767 AmerisourceBergen Corp...... 202 23,127 426,447 Amplifon S.p.A...... 332 16,433 Anthem, Inc...... 56 21,381 Cardinal Health, Inc...... 267 15,243 Household Durables—0.1% Centene Corp. (b) ...... 249 18,160 Barratt Developments plc ...... 787 7,582 Cigna Corp...... 59 13,987 Berkeley Group Holdings plc ...... 212 13,495 CVS Health Corp...... 222 18,524 Casio Computer Co., Ltd...... 500 8,355 DaVita, Inc. (b) ...... 149 17,944 Garmin, Ltd...... 151 21,841 Fresenius Medical Care AG & Co. KGaA ...... 240 19,936 Iida Group Holdings Co., Ltd...... 2,000 51,465 HCA Healthcare, Inc...... 110 22,741 Leggett & Platt, Inc...... 448 23,211 Henry Schein, Inc. (b) ...... 254 18,844 Lennar Corp. - Class A ...... 214 21,261 Humana, Inc...... 54 23,907 Mohawk Industries, Inc. (b) ...... 95 18,258 Laboratory Corp. of America Holdings (b) ...... 131 36,136 Newell Brands, Inc...... 1,144 31,426 McKesson Corp...... 78 14,917 PulteGroup, Inc...... 400 21,828 Medipal Holdings Corp...... 1,400 26,734 Sekisui House, Ltd...... 500 10,251 NMC Health plc (b) (c) (d) ...... 1,427 0 Sharp Corp...... 500 8,245 Onxeo S.A. (b) ...... 169 21,500 Sony Group Corp...... 100 9,705 Quest Diagnostics, Inc...... 205 27,054 Taylor Wimpey plc ...... 3,189 7,027 Ramsay Health Care, Ltd...... 253 11,925 Whirlpool Corp...... 110 23,982 Ryman Healthcare, Ltd...... 844 7,744 277,932 Sonic Healthcare, Ltd...... 887 25,538 UnitedHealth Group, Inc...... 80 32,035 Household Products—0.2% Universal Health Services, Inc. - Class B ...... 172 25,186 Church & Dwight Co., Inc...... 453 38,605 458,996 Clorox Co. (The) ...... 217 39,040 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-279 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Household Products—(Continued) Insurance—(Continued) Colgate-Palmolive Co...... 642 $ 52,227 Sampo Oyj - A Shares ...... 300 $ 13,796 Essity AB - Class B ...... 354 11,738 SCOR SE (b) ...... 379 12,056 Henkel AG & Co. KGaA ...... 256 23,570 Sompo Holdings, Inc...... 200 7,369 Kimberly-Clark Corp...... 373 49,900 Swiss Life Holding AG ...... 40 19,441 Lion Corp...... 3,400 57,604 T&D Holdings, Inc...... 700 9,095 Pigeon Corp...... 2,200 61,762 Tokio Marine Holdings, Inc...... 500 22,913 Procter & Gamble Co. (The) ...... 582 78,529 Travelers Cos., Inc. (The) ...... 119 17,815 Unicharm Corp...... 700 28,158 Tryg A/S ...... 480 11,780 441,133 Unum Group ...... 352 9,997 527,337 Independent Power and Renewable Electricity Producers—0.1% AES Corp. (The) 2,137 55,712 Interactive Media & Services—0.1% Brookfield Renewable Corp. - Class A 298 12,520 Alphabet, Inc. - Class A (b) ...... 28 68,370 Uniper SE 1,986 73,220 Auto Trader Group plc (b) ...... 3,229 28,318 141,452 Facebook, Inc. - Class A (b) ...... 179 62,240 Kakaku.com, Inc...... 900 27,191 Industrial Conglomerates—0.1% REA Group, Ltd...... 187 23,714 3MCo...... 109 21,651 Scout24 AG ...... 489 41,276 CK Hutchison Holdings, Ltd...... 1,500 11,688 Seek, Ltd...... 490 12,182 DCCplc...... 59 4,833 Twitter, Inc. (b) ...... 638 43,901 General Electric Co...... 1,309 17,619 Z Holdings Corp...... 4,300 21,561 Jardine Matheson Holdings, Ltd...... 100 6,397 328,753 Keppel Corp., Ltd...... 7,100 28,925 Melrose Industries plc ...... 2,694 5,797 Internet & Direct Marketing Retail—0.1% Roper Technologies, Inc...... 26 12,225 Amazon.com, Inc. (b) ...... 5 17,201 Smiths Group plc ...... 842 18,552 Booking Holdings, Inc. (b) ...... 8 17,505 Toshiba Corp...... 200 8,654 Delivery Hero SE (b) ...... 97 12,816 136,341 eBay, Inc...... 510 35,807 Etsy, Inc. (b) ...... 69 14,203 Insurance—0.2% HelloFresh SE (b) ...... 222 21,584 Aegon NV ...... 4,643 19,243 Just Eat Takeaway.com NV (b) ...... 281 25,953 Aflac, Inc...... 367 19,693 Mercari, Inc. (b) ...... 100 5,314 Allstate Corp. (The) ...... 126 16,435 Ocado Group plc (b) ...... 365 10,114 American International Group, Inc...... 88 4,189 Prosus NV (b) ...... 245 23,972 Aon plc - Class A ...... 84 20,056 Rakuten Group, Inc...... 1,000 11,282 Arthur J. Gallagher & Co...... 129 18,070 Zalando SE (b) ...... 150 18,133 Assurant, Inc...... 156 24,364 ZOZO, Inc...... 400 13,598 Chubb, Ltd...... 124 19,709 227,482 Cincinnati Financial Corp...... 187 21,808 Dai-ichi Life Holdings, Inc...... 800 14,641 IT Services—0.3% Everest Re Group, Ltd...... 65 16,381 Accenture plc - Class A ...... 102 30,069 Fairfax Financial Holdings, Ltd...... 18 7,894 Adyen NV (b) ...... 12 29,327 Gjensidige Forsikring ASA ...... 678 14,948 Afterpay, Ltd. (b) ...... 194 17,168 Globe Life, Inc...... 194 18,478 Akamai Technologies, Inc. (b) ...... 198 23,087 Hannover Rueck SE ...... 125 20,914 Atos SE ...... 128 7,790 Hartford Financial Services Group, Inc. (The) ...... 341 21,132 Automatic Data Processing, Inc...... 96 19,067 Insurance Australia Group, Ltd...... 2,215 8,545 Capgemini SE ...... 149 28,651 Japan Post Holdings Co., Ltd. (b) ...... 1,800 14,807 CGI, Inc. (b) ...... 414 37,536 Manulife Financial Corp...... 616 12,125 Cognizant Technology Solutions Corp. - Class A ...... 328 22,717 Marsh & McLennan Cos., Inc...... 100 14,068 Computershare, Ltd...... 2,436 30,982 Medibank Private, Ltd...... 3,848 9,114 Edenred ...... 251 14,306 Poste Italiane S.p.A...... 1,605 21,227 Fidelity National Information Services, Inc...... 154 21,817 Principal Financial Group, Inc...... 264 16,682 Fiserv, Inc. (b) ...... 165 17,637 Progressive Corp. (The) ...... 129 12,669 Fujitsu, Ltd...... 62 11,613 Prudential Financial, Inc...... 155 15,883 Global Payments, Inc...... 92 17,254

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-280 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

IT Services—(Continued) Machinery—(Continued) GMO Payment Gateway, Inc...... 100 $ 13,000 Komatsu, Ltd...... 1,800 $ 44,723 International Business Machines Corp...... 147 21,549 Kone Oyj - Class B ...... 450 36,714 Itochu Techno-Solutions Corp...... 400 12,390 Kurita Water Industries, Ltd...... 300 14,389 Jack Henry & Associates, Inc...... 162 26,489 MINEBEA MITSUMI, Inc...... 200 5,288 MasterCard, Inc. - Class A ...... 94 34,318 Miura Co., Ltd...... 200 8,665 NEC Corp...... 200 10,293 NSK, Ltd...... 900 7,603 Nexi S.p.A. (b) ...... 1,115 24,488 Otis Worldwide Corp...... 177 14,473 Nomura Research Institute, Ltd...... 600 19,856 Parker-Hannifin Corp...... 60 18,427 NTT Data Corp...... 1,500 23,391 Pentair plc ...... 240 16,198 Obic Co., Ltd...... 100 18,624 Sandvik AB ...... 372 9,504 Otsuka Corp...... 500 26,228 Schindler Holding AG ...... 66 19,291 Paychex, Inc...... 233 25,001 Snap-on, Inc...... 113 25,248 PayPal Holdings, Inc. (b) ...... 133 38,767 Spirax-Sarco Engineering plc ...... 100 18,853 SCSK Corp...... 200 11,914 Stanley Black & Decker, Inc...... 59 12,094 Shopify, Inc. - Class A (b) ...... 14 20,474 Techtronic Industries Co., Ltd...... 1,000 17,501 TIS, Inc...... 900 22,990 Wartsila Oyj Abp ...... 1,302 19,341 VeriSign, Inc. (b) ...... 103 23,452 Xylem, Inc...... 298 35,748 Visa, Inc. - A Shares ...... 125 29,227 479,229 Western Union Co. (The) ...... 1,029 23,636 Wix.com, Ltd. (b) ...... 142 41,220 Marine—0.0% Worldline S.A. (b) ...... 206 19,301 AP Moller - Maersk A/S - Class A ...... 5 13,894 815,629 Media—0.3% Leisure Products—0.0% Charter Communications, Inc. - Class A (b) ...... 71 51,223 Bandai Namco Holdings, Inc...... 261 18,115 Comcast Corp. - Class A ...... 953 54,340 Hasbro, Inc...... 140 13,233 CyberAgent, Inc...... 1,900 40,816 Shimano, Inc...... 100 23,712 Dentsu Group, Inc...... 700 25,033 Yamaha Corp...... 100 5,426 Discovery, Inc. - Class A (b) ...... 1,421 43,596 60,486 DISH Network Corp. - Class A (b) ...... 1,108 46,314 Fox Corp. - Class B ...... 1,387 48,822 Life Sciences Tools & Services—0.1% Hakuhodo DY Holdings, Inc...... 1,000 15,511 Agilent Technologies, Inc...... 250 36,953 Informa plc (b) ...... 2,694 18,727 Bio-Rad Laboratories, Inc. - Class A (b) ...... 21 13,530 Interpublic Group of Cos., Inc. (The) ...... 2,310 75,052 Eurofins Scientific SE (b) ...... 260 29,732 News Corp. - Class B ...... 2,565 62,458 Illumina, Inc. (b) ...... 54 25,553 Omnicom Group, Inc...... 889 71,111 IQVIA Holdings, Inc. (b) ...... 85 20,597 Pearson plc ...... 2,894 33,327 Lonza Group AG ...... 66 46,787 Publicis Groupe S.A...... 455 29,117 Mettler-Toledo International, Inc. (b) ...... 12 16,624 Quebecor, Inc. - Class B ...... 1,202 32,057 PerkinElmer, Inc...... 95 14,669 ViacomCBS, Inc. - Class B ...... 1,008 45,562 QIAGEN NV (b) ...... 1,053 50,897 WPPplc...... 884 11,967 Sartorius Stedim Biotech ...... 104 49,199 705,033 Thermo Fisher Scientific, Inc...... 46 23,206 Waters Corp. (b) ...... 104 35,943 Metals & Mining—0.2% 363,690 Agnico Eagle Mines, Ltd...... 191 11,550 Anglo American plc ...... 418 16,657 Machinery—0.2% Antofagasta plc ...... 864 17,163 Caterpillar, Inc...... 163 35,474 ArcelorMittal S.A...... 330 10,130 CNH Industrial NV ...... 1,352 22,339 B2Gold Corp...... 2,902 12,174 Cummins, Inc...... 51 12,434 Barrick Gold Corp...... 1,430 29,578 Dover Corp...... 179 26,957 BHP Group plc ...... 597 17,597 Hino Motors, Ltd...... 800 7,041 BHP Group, Ltd...... 559 20,277 Hitachi Construction Machinery Co., Ltd...... 200 6,109 Boliden AB ...... 532 20,462 Hoshizaki Corp...... 200 16,989 Evolution Mining, Ltd...... 10,786 36,518 Ingersoll Rand, Inc. (b) ...... 236 11,519 Evraz plc ...... 1,497 12,285 KION Group AG ...... 153 16,307 Freeport-McMoRan, Inc...... 767 28,463 JFE Holdings, Inc...... 600 7,028 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-281 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Metals & Mining—(Continued) Oil, Gas & Consumable Fuels—(Continued) Kinross Gold Corp...... 2,118 $ 13,430 ConocoPhillips ...... 1,702 $ 103,652 Kirkland Lake Gold, Ltd...... 433 16,686 Devon Energy Corp...... 1,016 29,657 Newcrest Mining, Ltd...... 740 14,072 Diamondback Energy, Inc...... 429 40,279 Newmont Corp...... 1,060 67,183 Enbridge, Inc...... 294 11,771 Nippon Steel Corp...... 700 11,790 ENEOS Holdings, Inc...... 68,400 286,329 Norsk Hydro ASA ...... 2,948 18,832 EOG Resources, Inc...... 499 41,637 Northern Star Resources, Ltd...... 4,485 33,001 Equinor ASA ...... 681 14,414 Nucor Corp...... 593 56,886 Exxon Mobil Corp...... 1,222 77,084 Pan American Silver Corp...... 478 13,651 Galp Energia SGPS S.A...... 792 8,617 Sumitomo Metal Mining Co., Ltd...... 400 15,570 Hess Corp...... 619 54,051 Teck Resources, Ltd. - Class B ...... 613 14,118 Idemitsu Kosan Co., Ltd...... 10,076 243,201 Wheaton Precious Metals Corp...... 453 19,968 Imperial Oil, Ltd...... 211 6,431 Yamana Gold, Inc...... 2,681 11,290 Inpex Corp...... 15,700 117,665 546,359 Inter Pipeline, Ltd...... 476 7,737 Kinder Morgan, Inc...... 1,803 32,869 Multi-Utilities—0.5% Koninklijke Vopak NV ...... 417 18,951 AGL Energy, Ltd...... 3,392 20,803 Lundin Energy AB ...... 4,202 149,092 Algonquin Power & Utilities Corp...... 833 12,412 Marathon Oil Corp...... 2,724 37,101 Ameren Corp...... 1,578 126,303 Neste Oyj ...... 150 9,190 Atco, Ltd. - Class I ...... 209 7,412 Occidental Petroleum Corp...... 900 28,143 CenterPoint Energy, Inc...... 2,518 61,741 Oil Search, Ltd...... 2,757 7,881 CMS Energy Corp...... 1,688 99,727 OMVAG ...... 156 8,899 Consolidated Edison, Inc...... 1,410 101,125 ONEOK, Inc...... 607 33,773 Dominion Energy, Inc...... 1,568 115,358 Parkland Corp...... 270 8,726 DTE Energy Co...... 654 84,758 Phillips 66 ...... 465 39,906 E.ON SE ...... 9,608 111,114 Pioneer Natural Resources Co...... 229 37,217 Engie S.A...... 2,003 27,460 Repsol S.A...... 1,914 24,008 National Grid plc ...... 6,078 77,387 Royal Dutch Shell plc - B Shares ...... 6,811 132,341 NiSource, Inc...... 3,301 80,874 Santos, Ltd...... 1,713 9,138 Public Service Enterprise Group, Inc...... 1,265 75,571 TC Energy Corp...... 198 9,798 RWEAG ...... 1,981 71,790 TotalEnergies SE ...... 768 34,842 Sempra Energy ...... 424 56,171 Valero Energy Corp...... 471 36,776 Suez S.A...... 1,593 37,875 Washington H Soul Pattinson & Co., Ltd...... 1,053 26,646 Veolia Environnement S.A...... 1,577 47,647 Williams Cos., Inc. (The) ...... 1,550 41,152 WEC Energy Group, Inc...... 1,079 95,977 Woodside Petroleum, Ltd...... 1,717 28,611 1,311,505 2,040,375

Multiline Retail—0.1% Paper & Forest Products—0.0% Canadian Tire Corp., Ltd. - Class A ...... 203 32,124 Mondi plc ...... 549 14,465 Dollar General Corp...... 84 18,177 Oji Holdings Corp...... 6,400 36,692 Dollar Tree, Inc. (b) ...... 182 18,109 Svenska Cellulosa AB SCA - Class B ...... 1,214 19,898 Dollarama, Inc...... 256 11,718 71,055 Pan Pacific International Holdings Corp...... 2,800 58,133 Ryohin Keikaku Co., Ltd...... 500 10,442 Personal Products—0.1% Target Corp...... 142 34,327 Beiersdorf AG ...... 348 42,001 Wesfarmers, Ltd...... 774 34,290 Estee Lauder Cos., Inc. (The) - Class A ...... 186 59,163 217,320 Kao Corp...... 400 24,605 Kobayashi Pharmaceutical Co., Ltd...... 200 17,081 Oil, Gas & Consumable Fuels—0.8% Kose Corp...... 98 15,424 Ampol, Ltd...... 569 12,041 L’Oreal S.A...... 140 62,428 APA Corp...... 848 18,342 Pola Orbis Holdings, Inc...... 600 15,852 BPplc...... 25,327 110,692 Shiseido Co., Ltd...... 200 14,706 Cabot Oil & Gas Corp...... 1,946 33,977 Unilever plc ...... 272 15,909 Cameco Corp...... 616 11,807 267,169 Chevron Corp...... 534 55,931

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-282 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Pharmaceuticals—0.4% Real Estate Management & Development—0.1% Astellas Pharma, Inc...... 800 $ 13,926 Aroundtown S.A...... 2,045 $ 15,933 AstraZeneca plc ...... 317 38,039 Azrieli Group, Ltd...... 94 6,620 Bausch Health Cos., Inc. (b) ...... 316 9,274 CBRE Group, Inc. - Class A (b) ...... 281 24,090 Bayer AG ...... 246 14,942 CK Asset Holdings, Ltd...... 227 1,567 Bristol-Myers Squibb Co...... 353 23,587 Daito Trust Construction Co., Ltd...... 100 10,932 Canopy Growth Corp. (b) ...... 323 7,812 Daiwa House Industry Co., Ltd...... 200 6,002 Catalent, Inc. (b) ...... 96 10,380 Deutsche Wohnen SE ...... 353 21,609 Chugai Pharmaceutical Co., Ltd...... 600 23,632 Fastighets AB Balder - B Shares (b) ...... 184 11,547 Daiichi Sankyo Co., Ltd...... 600 12,927 Mitsubishi Estate Co., Ltd...... 1,000 16,166 Eisai Co., Ltd...... 300 29,317 Sumitomo Realty & Development Co., Ltd...... 300 10,717 Eli Lilly and Co...... 166 38,100 Swiss Prime Site AG ...... 83 8,237 GlaxoSmithKline plc ...... 1,357 26,658 Vonovia SE ...... 239 15,466 Hikma Pharmaceuticals olc ...... 881 29,831 Wharf Real Estate Investment Co., Ltd...... 2,596 15,096 Hisamitsu Pharmaceutical Co., Inc...... 300 14,766 163,982 Ipsen S.A...... 139 14,461 Johnson & Johnson ...... 142 23,393 Road & Rail—0.1% Kyowa Kirin Co., Ltd...... 1,200 42,367 Aurizon Holdings, Ltd...... 8,386 23,410 Merck & Co., Inc...... 405 31,497 Canadian National Railway Co...... 88 9,285 Merck KGaA ...... 150 28,795 Canadian Pacific Railway, Ltd...... 350 26,914 Nippon Shinyaku Co., Ltd...... 400 31,714 CSX Corp...... 735 23,579 Novartis AG ...... 240 21,875 J.B. Hunt Transport Services, Inc...... 132 21,509 Novo Nordisk A/S - Class B ...... 690 57,727 Kansas City Southern ...... 81 22,953 Ono Pharmaceutical Co., Ltd...... 900 19,977 Keio Corp...... 800 47,008 Organon & Co. (b) ...... 40 1,210 Kintetsu Group Holdings Co., Ltd. (b) ...... 900 31,585 Orion Oyj - Class B ...... 418 17,969 MTR Corp., Ltd...... 2,000 11,141 Otsuka Holdings Co., Ltd...... 500 20,728 Nippon Express Co., Ltd...... 100 7,613 Perrigo Co. plc ...... 415 19,028 Odakyu Electric Railway Co., Ltd...... 500 12,601 Pfizer, Inc...... 643 25,180 Old Dominion Freight Line, Inc...... 43 10,913 Recordati Industria Chimica e Farmaceutica S.p.A...... 673 38,486 Tobu Railway Co., Ltd...... 600 15,506 Roche Holding AG ...... 120 48,745 Union Pacific Corp...... 74 16,275 Sanofi ...... 249 26,092 Santen Pharmaceutical Co., Ltd...... 2,800 38,554 280,292 Shionogi & Co., Ltd...... 300 15,635 Sumitomo Dainippon Pharma Co., Ltd...... 1,000 20,860 Semiconductors & Semiconductor Equipment—0.1% Taisho Pharmaceutical Holdings Co., Ltd...... 400 21,309 Advantest Corp...... 100 8,966 Takeda Pharmaceutical Co., Ltd...... 738 24,786 Analog Devices, Inc...... 146 25,135 Teva Pharmaceutical Industries, Ltd. (ADR) (b) ...... 3,894 38,551 Applied Materials, Inc...... 118 16,803 UCB S.A...... 451 47,154 ASM International NV ...... 72 23,674 Viatris, Inc...... 1,077 15,390 ASML Holding NV ...... 45 30,983 Vifor Pharma AG ...... 116 15,016 Broadcom, Inc...... 50 23,842 Zoetis, Inc...... 89 16,586 Disco Corp...... 56 17,124 1,016,276 Infineon Technologies AG ...... 431 17,283 Intel Corp...... 426 23,916 Professional Services—0.1% Microchip Technology, Inc...... 182 27,253 Equifax, Inc...... 97 23,233 Micron Technology, Inc. (b) ...... 176 14,957 Experian plc ...... 305 11,766 NVIDIA Corp...... 20 16,002 Jacobs Engineering Group, Inc...... 116 15,477 Qorvo, Inc. (b) ...... 85 16,630 Leidos Holdings, Inc...... 103 10,413 QUALCOMM, Inc...... 125 17,866 Nielsen Holdings plc ...... 692 17,072 Rohm Co., Ltd...... 173 16,004 Nihon M&A Center, Inc...... 200 5,190 Skyworks Solutions, Inc...... 105 20,134 Robert Half International, Inc...... 330 29,360 STMicroelectronics NV ...... 309 11,217 SGS S.A...... 12 37,019 SUMCO Corp...... 500 12,211 Thomson Reuters Corp...... 382 37,944 Texas Instruments, Inc...... 132 25,384 Verisk Analytics, Inc...... 124 21,665 Xilinx, Inc...... 135 19,526 Wolters Kluwer NV ...... 156 15,679 384,910 224,818 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-283 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Software—0.3% Technology Hardware, Storage & Peripherals—(Continued) Adobe, Inc. (b) ...... 42 $ 24,597 HP, Inc...... 794 $ 23,971 Autodesk, Inc. (b) ...... 72 21,017 Logitech International S.A...... 331 40,116 AVEVA Group plc ...... 298 15,303 NetApp, Inc...... 274 22,419 Blackberry, Ltd. (b) ...... 2,024 24,737 Ricoh Co., Ltd...... 1,200 13,522 Check Point Software Technologies, Ltd. (b) ...... 332 38,555 Seagate Technology Holdings plc ...... 253 22,246 Citrix Systems, Inc...... 220 25,799 Seiko Epson Corp...... 700 12,306 Constellation Software, Inc...... 14 21,203 223,177 CyberArk Software, Ltd. (b) ...... 251 32,698 Dassault Systemes SE ...... 153 37,118 Textiles, Apparel & Luxury Goods—0.1% Fortinet, Inc. (b) ...... 59 14,053 Adidas AG ...... 57 21,225 Intuit, Inc...... 51 24,999 Cie Financiere Richemont S.A. - Class A ...... 135 16,345 Microsoft Corp...... 101 27,361 EssilorLuxottica S.A...... 112 20,681 Nemetschek SE ...... 142 10,878 Gildan Activewear, Inc...... 791 29,187 Nice, Ltd. (b) ...... 262 64,588 Hanesbrands, Inc...... 786 14,675 NortonLifeLock, Inc...... 848 23,082 Hermes International ...... 40 58,322 Open Text Corp...... 350 17,774 Kering S.A...... 8 7,001 Oracle Corp...... 295 22,963 Moncler S.p.A...... 129 8,732 Oracle Corp. Japan ...... 100 7,653 NIKE, Inc. - Class B ...... 162 25,027 Paycom Software, Inc. (b) ...... 57 20,718 Pandora A/S ...... 152 20,482 Sage Group plc (The) ...... 2,542 24,080 Puma SE ...... 222 26,469 SAPSE ...... 201 28,360 PVH Corp. (b) ...... 81 8,715 ServiceNow, Inc. (b) ...... 40 21,982 Ralph Lauren Corp...... 166 19,556 Synopsys, Inc. (b) ...... 150 41,368 Swatch Group AG (The) - Bearer Shares ...... 79 27,115 TeamViewer AG (b) ...... 401 15,106 Tapestry, Inc. (b) ...... 426 18,522 Temenos AG ...... 115 18,478 Under Armour, Inc. - Class A (b) ...... 694 14,678 Trend Micro, Inc...... 700 36,678 VF Corp...... 294 24,120 Tyler Technologies, Inc. (b) ...... 56 25,333 360,852 WiseTech Global, Ltd...... 976 23,359 Xero, Ltd. (b) ...... 262 26,911 Tobacco—0.1% 736,751 Altria Group, Inc...... 744 35,474 British American Tobacco plc ...... 361 14,072 Specialty Retail—0.1% Imperial Brands plc ...... 882 19,007 ABC-Mart, Inc...... 300 17,142 Japan Tobacco, Inc...... 1,200 22,664 Advance Auto Parts, Inc...... 74 15,180 Philip Morris International, Inc...... 495 49,059 AutoZone, Inc. (b) ...... 19 28,352 Swedish Match AB ...... 2,870 24,479 Best Buy Co., Inc...... 138 15,867 164,755 CarMax, Inc. (b) ...... 115 14,852 Gap, Inc. (The) ...... 426 14,335 Trading Companies & Distributors—0.0% H & M Hennes & Mauritz AB - B Shares (b) ...... 372 8,828 Ashtead Group plc ...... 172 12,776 Home Depot, Inc. (The) ...... 50 15,945 Fastenal Co...... 194 10,088 Industria de Diseno Textil S.A ...... 342 12,051 Ferguson plc ...... 77 10,718 Kingfisher plc ...... 2,421 12,215 Marubeni Corp...... 3,300 28,683 L Brands, Inc...... 276 19,889 MonotaRO Co., Ltd...... 700 16,581 Nitori Holdings Co., Ltd...... 100 17,702 United Rentals, Inc. (b) ...... 65 20,736 O’Reilly Automotive, Inc. (b) ...... 47 26,612 WW Grainger, Inc...... 67 29,346 Ross Stores, Inc...... 223 27,652 TJX Cos., Inc. (The) ...... 422 28,451 128,928 Tractor Supply Co...... 124 23,071 Ulta Beauty, Inc. (b) ...... 70 24,204 Transportation Infrastructure—0.0% Yamada Holdings Co., Ltd...... 5,500 25,392 Aena SME S.A. (b) ...... 35 5,739 Aeroports de Paris (b) ...... 108 14,079 347,740 Atlantia S.p.A. (b) ...... 614 11,127 Auckland International Airport, Ltd. (b) ...... 4,470 22,713 Technology Hardware, Storage & Peripherals—0.1% Sydney Airport (b) ...... 3,397 14,755 Apple, Inc...... 124 16,983 Transurban Group ...... 1,608 17,200 Canon, Inc...... 1,200 27,136 FUJIFILM Holdings Corp...... 600 44,478 85,613 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-284 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued) Short-Term Investments—33.6%

Shares/ Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Water Utilities—0.1% Mutual Funds—3.5% American Water Works Co., Inc...... 295 $ 45,468 BlackRock Liquidity Funds T-Fund Portfolio, Institutional Class, Severn Trent plc ...... 1,485 51,366 0.010% (e) ...... 7,472,203 $ 7,472,203 United Utilities Group plc ...... 2,922 39,406 UBS Select Treasury Institutional Fund, Institutional Class, 136,240 0.010% (e) ...... 1,732,858 1,732,858 9,205,061 Wireless Telecommunication Services—0.1% KDDI Corp...... 2,100 65,476 Repurchase Agreement—18.0% Rogers Communications, Inc. - Class B ...... 182 9,676 Fixed Income Clearing Corp. SoftBank Corp...... 2,800 36,627 Repurchase Agreement dated 06/30/21 at 0.000%, due on SoftBank Group Corp...... 100 7,003 07/01/21 with a maturity value of $47,542,849; collateralized T-Mobile U.S., Inc. (b) ...... 472 68,360 by U.S. Treasury Note at 0.125%, maturing 04/15/25, with a Tele2 AB - B Shares ...... 2,432 33,142 market value of $48,493,784...... 47,542,849 47,542,849 Vodafone Group plc ...... 16,068 27,025 247,309 U.S. Treasury—12.1% U.S. Treasury Bills Total Common Stocks 0.031%, 10/21/21 (f) (g) ...... 12,000,000 11,998,227 (Cost $24,237,657) ...... 29,579,109 0.046%, 09/16/21 (f) ...... 20,000,000 19,998,075 31,996,302 U.S. Treasury & Government Agencies—11.2% Total Short-Term Investments (Cost $88,744,782) ...... 88,744,212 U.S. Treasury—11.2% U.S. Treasury Inflation Indexed Bonds Total Investments— 86.4% 2.125%, 02/15/40 (a) ...... 1,852,845 2,760,884 (Cost $219,103,795) ...... 228,266,411 3.375%, 04/15/32 (a) ...... 5,264,420 7,763,032 Other assets and liabilities (net)—13.6% ...... 35,862,566 3.875%, 04/15/29 (a) ...... 3,248,080 4,567,147 Net Assets—100.0% ...... $264,128,977 U.S. Treasury Inflation Indexed Notes 0.125%, 01/15/23 (a) ...... 2,313,300 2,416,901 0.125%, 10/15/25 (a) ...... 617,370 671,800 * Principal amount stated in U.S. dollars unless otherwise noted. 0.125%, 01/15/30 (a) ...... 1,556,535 1,708,520 (a) Principal amount of security is adjusted for inflation. 0.250%, 01/15/25 (a) ...... 3,945,200 4,269,754 (b) Non-income producing security. 0.250%, 07/15/29 (a) ...... 3,131,220 3,483,238 (c) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. 0.375%, 07/15/25 (a) ...... 1,688,730 1,854,107 Level 3. (d) Security was valued in good faith under procedures approved by the Board of Trustees. Total U.S. Treasury & Government Agencies As of June 30, 2021, these securities represent less than 0.05% of net assets. (Cost $29,223,457) ...... 29,495,383 (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. (f) The rate shown represents current yield to maturity. Mutual Funds—9.8% (g) All or a portion of the security was pledged as collateral against open futures contracts. As of June 30, 2021, the market value of securities pledged amounted to $11,998,227. Investment Company Securities—9.8% (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. iShares iBoxx $ Investment Grade Corporate Bond ETF These securities may be resold in transactions exempt from registration, normally to (Cost $24,463,363) ...... 193,481 25,996,107 qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $6,973,965, which is 2.6% of net assets. Preferred Stocks—0.0%

Chemicals—0.0% FUCHS Petrolub SE ...... 497 24,207

Health Care Equipment & Supplies—0.0% Sartorius AG ...... 56 29,150 Total Preferred Stocks (Cost $41,286) ...... 53,357

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-285 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts Settlement In Exchange Unrealized Contracts to Deliver Counterparty Date for Appreciation AUD 1,100,000 BNY ...... 07/29/21 USD 837,551 $ 12,494 CAD 1,600,000 BNY ...... 07/29/21 USD 1,301,738 11,017 CAD 13,113 SSBT ...... 07/29/21 USD 10,590 12 CHF 900,000 SSBT ...... 07/29/21 USD 983,894 10,486 EUR 25,500,000 BBP ...... 07/29/21 USD 30,353,887 100,344 EUR 3,400,000 SSBT ...... 07/29/21 USD 4,069,935 36,129 GBP 16,600,000 BBH ...... 07/29/21 USD 23,075,178 110,518 GBP 1,000,000 SSBT ...... 07/29/21 USD 1,391,442 8,029 HKD 9,800,000 BNY ...... 07/29/21 USD 1,262,722 476 JPY 3,330,519 BNY ...... 07/29/21 USD 30,090 105 JPY 557,500,000 SSBT ...... 07/29/21 USD 5,046,350 27,013 Net Unrealized Appreciation ...... $316,623

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Amsterdam AEX Index Futures ...... 07/16/21 6 EUR 875,196 $ (3,403) Australian 10 Year Treasury Bond Futures ...... 09/15/21 271 AUD 38,262,216 (41,946) Bloomberg Commodity Index Futures ...... 09/15/21 524 USD 4,946,560 (37,115) Brent Crude Oil Futures ...... 10/29/21 38 USD 2,750,060 113,983 Canada Government Bond 10 Year Futures ...... 09/21/21 227 CAD 33,033,040 310,882 Cattle Feeder Futures ...... 08/26/21 6 USD 463,875 4,170 Cattle Feeder Futures ...... 09/30/21 12 USD 944,550 21,120 Cocoa Futures ...... 09/15/21 46 USD 1,098,940 (44,707) Cocoa Futures ...... 12/15/21 21 USD 510,090 2,089 Coffee “C” Futures ...... 09/20/21 14 USD 838,688 (1,452) Copper Futures ...... 09/28/21 14 USD 1,501,150 (86,139) Corn Futures ...... 12/14/21 42 USD 1,235,850 425,463 Cotton No. 2 Futures ...... 12/08/21 19 USD 806,550 7,905 DAX Index Futures ...... 09/17/21 2 EUR 776,400 (10,606) Euro-BTP Futures ...... 09/08/21 53 EUR 8,024,730 62,180 Euro-Bobl Futures ...... 09/08/21 150 EUR 20,122,500 14,021 Euro-Bund Futures ...... 09/08/21 60 EUR 10,356,600 65,406 Euro-Buxl 30 Year Bond Futures ...... 09/08/21 24 EUR 4,877,760 91,397 FTSE 100 Index Futures ...... 09/17/21 15 GBP 1,047,075 (18,698) Gold 100 oz. Futures ...... 08/27/21 31 USD 5,491,960 (165,007) Goldman Sachs Commodity Index Futures ...... 07/16/21 63 USD 8,456,175 176,266 Hang Seng Index Futures ...... 07/29/21 7 HKD 10,020,500 (6,442) IBEX 35 Index Futures ...... 07/16/21 7 EUR 615,181 (30,890) Interest Rate Swap 10 Year Futures ...... 09/13/21 246 USD 23,466,094 328,020 Interest Rate Swap 5 Year Futures ...... 09/13/21 364 USD 35,464,406 (93,083) Japanese Government 10 Year Bond Futures ...... 09/13/21 14 JPY 2,123,660,000 42,316 Japanese Government 10 Year Bond Mini Futures ...... 09/10/21 424 JPY 6,434,624,000 131,621 LME Nickel Futures ...... 09/13/21 14 USD 1,529,976 25,224 LME Primary Aluminum Futures ...... 09/13/21 42 USD 2,650,725 (3,282) LME Zinc Futures ...... 09/13/21 28 USD 2,083,900 (17,252) Lean Hogs Futures ...... 08/13/21 8 USD 330,400 (24,679) Live Cattle Futures ...... 08/31/21 23 USD 1,129,070 39,967 Live Cattle Futures ...... 10/29/21 18 USD 922,680 27,223 Low Sulphur Gas Oil Futures ...... 12/10/21 20 USD 1,192,000 39,241 MSCI Emerging Markets Index Mini Futures ...... 09/17/21 350 USD 23,884,000 (4,447) Natural Gas Futures ...... 09/28/21 81 USD 2,931,390 435,642 New York Harbor ULSD Futures ...... 08/31/21 13 USD 1,163,362 4,417 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-286 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts—(Continued) Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) OMX Stockholm 30 Index Futures ...... 07/16/21 28 SEK 6,344,800 $ (6,815) RBOB Gasoline Futures ...... 08/31/21 12 USD 1,120,594 38,731 Russell 2000 Index E-Mini Futures ...... 09/17/21 230 USD 26,539,700 (263,596) S&P 500 Index E-Mini Futures ...... 09/17/21 100 USD 21,443,000 297,988 S&P TSX 60 Index Futures ...... 09/16/21 9 CAD 2,164,860 11,677 SPI 200 Index Futures ...... 09/16/21 11 AUD 1,986,325 (5,385) Silver Futures ...... 09/28/21 17 USD 2,226,490 (154,645) Soybean Futures ...... 11/12/21 13 USD 909,350 (28,193) Soybean Meal Futures ...... 08/13/21 12 USD 453,000 (16,774) Soybean Meal Futures ...... 12/14/21 12 USD 458,040 (9,305) Soybean Oil Futures ...... 09/14/21 4 USD 151,464 9,584 Soybean Oil Futures ...... 12/14/21 18 USD 677,808 (25,943) Sugar No. 11 Futures ...... 09/30/21 56 USD 1,122,061 30,367 TOPIX Index Futures ...... 09/09/21 7 JPY 136,010,000 (14,553) U.S. Treasury Long Bond Futures ...... 09/21/21 145 USD 23,308,750 671,166 U.S. Treasury Note 10 Year Futures ...... 09/21/21 31 USD 4,107,500 23,417 U.S. Treasury Note 2 Year Futures ...... 09/30/21 1 USD 220,320 (353) U.S. Treasury Note 5 Year Futures ...... 09/30/21 11 USD 1,357,727 (3,113) United Kingdom Long Gilt Bond Futures ...... 09/28/21 151 GBP 19,343,100 225,363 Wheat Futures ...... 09/14/21 37 USD 1,257,075 17,743

Futures Contracts—Short LME Nickel Futures ...... 09/13/21 (2) USD (218,568) (1,375) LME Primary Aluminum Futures ...... 09/13/21 (8) USD (504,900) (7,427) LME Zinc Futures ...... 09/13/21 (6) USD (446,550) 13,104 Net Unrealized Appreciation ...... $2,581,068

Swap Agreements Centrally Cleared Interest Rate Swaps Upfront Premiums Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Paid/ Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value (Received) (Depreciation) Pay...... 3MLIBOR Quarterly 0.250% Semi-Annually 09/15/23 USD 77,947,000 $(196,777) $(152,745) $(44,032)

Glossary of Abbreviations

Counterparties (BBH)— Brown Brothers Harriman & Co. (BNY)— Bank of New York Mellon (BBP)— Barclays Bank plc (SSBT)— State Street Bank and Trust Co.

Currencies (AUD)— Australian Dollar (EUR)— Euro (JPY)— Japanese Yen (CAD)— Canadian Dollar (GBP)— British Pound (SEK)— Swedish Krona (CHF)— Swiss Franc (HKD)— Hong Kong Dollar (USD)— United States Dollar

Index Abbreviations (LIBOR)— London Interbank Offered Rate

Other Abbreviations (REIT)— Real Estate Investment Trust (ADR)— American Depositary Receipt (ETF)— Exchange-Traded Fund §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-287 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Foreign Government* ...... $ — $54,398,243 $— $54,398,243 Common Stocks Aerospace & Defense ...... 171,963 35,972 — 207,935 Air Freight & Logistics ...... 77,637 32,684 — 110,321 Airlines ...... 56,445 30,552 — 86,997 Auto Components ...... 54,485 48,133 — 102,618 Automobiles ...... 15,796 56,180 — 71,976 Banks ...... 415,112 302,218 — 717,330 Beverages ...... 263,442 448,891 — 712,333 Biotechnology ...... 190,553 157,898 — 348,451 Building Products ...... 113,491 116,220 — 229,711 Capital Markets ...... 274,658 130,527 — 405,185 Chemicals ...... 589,637 476,123 — 1,065,760 Commercial Services & Supplies ...... 115,694 44,174 — 159,868 Communications Equipment ...... 110,101 53,111 — 163,212 Construction & Engineering ...... 45,437 27,193 — 72,630 Construction Materials ...... 85,431 74,114 — 159,545 Consumer Finance ...... 18,971 3 — 18,974 Containers & Packaging ...... 289,283 33,582 — 322,865 Distributors ...... 59,331 — — 59,331 Diversified Financial Services ...... 19,176 93,546 — 112,722 Diversified Telecommunication Services ...... 280,436 1,132,082 — 1,412,518 Electric Utilities ...... 1,009,681 1,456,165 — 2,465,846 Electrical Equipment ...... 98,457 39,921 — 138,378 Electronic Equipment, Instruments & Components ...... 149,484 193,282 — 342,766 Energy Equipment & Services ...... 111,791 23,641 — 135,432 Entertainment ...... 376,055 254,157 — 630,212 Equity Real Estate Investment Trusts ...... 426,319 233,569 — 659,888 Food & Staples Retailing ...... 564,459 560,722 — 1,125,181 Food Products ...... 771,306 618,050 — 1,389,356 Gas Utilities ...... 44,211 624,109 — 668,320 Health Care Equipment & Supplies ...... 424,478 666,427 — 1,090,905 Health Care Providers & Services ...... 329,186 129,810 0 458,996 Health Care Technology ...... 22,979 10,304 — 33,283 Hotels, Restaurants & Leisure ...... 250,445 176,002 — 426,447 Household Durables ...... 161,807 116,125 — 277,932 Household Products ...... 258,301 182,832 — 441,133 Independent Power and Renewable Electricity Producers ...... 68,232 73,220 — 141,452 Industrial Conglomerates ...... 51,495 84,846 — 136,341 Insurance ...... 307,448 219,889 — 527,337 Interactive Media & Services ...... 174,511 154,242 — 328,753 Internet & Direct Marketing Retail ...... 84,716 142,766 — 227,482 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-288 Brighthouse Funds Trust I PanAgora Global Diversified Risk Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total IT Services ...... $ 473,317 $ 342,312 $— $ 815,629 Leisure Products ...... 13,233 47,253 — 60,486 Life Sciences Tools & Services ...... 187,075 176,615 — 363,690 Machinery ...... 208,572 270,657 — 479,229 Marine ...... — 13,894 — 13,894 Media ...... 530,535 174,498 — 705,033 Metals & Mining ...... 294,977 251,382 — 546,359 Multi-Utilities ...... 917,429 394,076 — 1,311,505 Multiline Retail ...... 114,455 102,865 — 217,320 Oil, Gas & Consumable Fuels ...... 797,817 1,242,558 — 2,040,375 Paper & Forest Products ...... — 71,055 — 71,055 Personal Products ...... 59,163 208,006 — 267,169 Pharmaceuticals ...... 259,988 756,288 — 1,016,276 Professional Services ...... 155,164 69,654 — 224,818 Real Estate Management & Development ...... 24,090 139,892 — 163,982 Road & Rail ...... 131,428 148,864 — 280,292 Semiconductors & Semiconductor Equipment ...... 247,448 137,462 — 384,910 Software ...... 428,239 308,512 — 736,751 Specialty Retail ...... 254,410 93,330 — 347,740 Technology Hardware, Storage & Peripherals ...... 85,619 137,558 — 223,177 Textiles, Apparel & Luxury Goods ...... 154,480 206,372 — 360,852 Tobacco ...... 84,533 80,222 — 164,755 Trading Companies & Distributors ...... 60,170 68,758 — 128,928 Transportation Infrastructure ...... — 85,613 — 85,613 Water Utilities ...... 45,468 90,772 — 136,240 Wireless Telecommunication Services ...... 78,036 169,273 — 247,309 Total Common Stocks ...... 14,538,086 15,041,023 — 29,579,109 Total U.S. Treasuries & Government Agency* ...... — 29,495,383 — 29,495,383 Total Investment Company Securities ...... 25,996,107 — — 25,996,107 Total Preferred Stocks* ...... — 53,357 — 53,357 Short-Term Investments Mutual Funds ...... 9,205,061 — — 9,205,061 Repurchase Agreement ...... — 47,542,849 — 47,542,849 U.S. Treasury ...... — 31,996,302 — 31,996,302 Total Short-Term Investments ...... 9,205,061 79,539,151 — 88,744,212 Total Investments ...... $49,739,254 $178,527,157 $ 0 $228,266,411 Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 316,623 $— $ 316,623 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 3,707,693 $ — $— $ 3,707,693 Futures Contracts (Unrealized Depreciation) ...... (1,126,625) — — (1,126,625) Total Futures Contracts ...... $ 2,581,068 $ — $— $ 2,581,068 Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Depreciation) ...... $ — $ (44,032) $— $ (44,032)

* 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 June 30, 2021 is not presented.

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-289 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—107.4% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—5.9% U.S. Treasury—(Continued) Fannie Mae 30 Yr. Pool U.S. Treasury Inflation Indexed Bonds 4.000%, 10/01/48 ...... 923,669 $ 985,198 3.625%, 04/15/28 (d) ...... 31,643,536 $ 42,663,150 4.000%, 06/01/50 ...... 1,953,939 2,081,641 3.875%, 04/15/29 (c) (d) ...... 33,017,968 46,426,788 Fannie Mae ARM Pool U.S. Treasury Inflation Indexed Notes 1.328%, 12M MTA + 1.200%, 07/01/44 (a) ...... 5,246 5,390 0.125%, 01/15/22 (d) ...... 39,398,306 40,284,768 1.328%, 12M MTA + 1.200%, 09/01/44 (a) ...... 10,595 10,887 0.125%, 04/15/22 (c) (d) ...... 61,637,253 63,224,734 2.581%, 1Y H15 + 2.360%, 11/01/34 (a) ...... 200,588 213,505 0.125%, 07/15/22 (d) (g) (h) ...... 35,291,470 36,574,232 Fannie Mae REMICS (CMO) 0.125%, 01/15/23 (c) (d) (g) ...... 97,389,657 101,751,269 0.152%, 1M LIBOR + 0.060%, 12/25/36 (a) ...... 19,105 18,933 0.125%, 10/15/24 (c) (d) ...... 90,144,057 97,143,133 0.152%, 1M LIBOR + 0.060%, 07/25/37 (a) ...... 147,729 145,109 0.125%, 04/15/25 (c) (d) ...... 45,088,940 48,662,591 0.242%, 1M LIBOR + 0.150%, 08/25/34 (a) ...... 24,194 24,004 0.125%, 10/15/25 (d) ...... 9,466,340 10,300,931 0.442%, 1M LIBOR + 0.350%, 07/25/37 (a) ...... 3,613 3,636 0.125%, 07/15/26 (c) (d) ...... 95,337,502 104,380,910 0.472%, 1M LIBOR + 0.380%, 07/25/37 (a) ...... 40,039 40,434 0.125%, 01/15/30 (c) (d) ...... 63,124,992 69,288,720 2.096%, 05/25/35 (a) ...... 105,819 108,362 0.125%, 07/15/30 (c) (d) ...... 78,379,128 86,457,893 Fannie Mae Whole Loan (CMO) 0.125%, 01/15/31 (c) (d) ...... 120,028,512 132,079,813 0.442%, 1M LIBOR + 0.350%, 05/25/42 (a) ...... 27,395 27,588 0.250%, 01/15/25 (c) (d) ...... 44,660,880 48,334,935 Freddie Mac ARM Non-Gold Pool 0.250%, 07/15/29 (c) (d) ...... 76,893,996 85,538,563 2.350%, 1Y H15 + 2.225%, 01/01/34 (a) ...... 20,616 21,928 0.375%, 07/15/23 (c) (d) ...... 77,296,693 82,225,867 Freddie Mac REMICS (CMO) 0.375%, 07/15/25 (d) ...... 28,763,575 31,580,383 0.460%, 1M LIBOR + 0.350%, 07/15/44 (a) ...... 1,953,998 1,968,632 0.375%, 01/15/27 (c) (d) ...... 46,201,577 51,133,957 Freddie Mac Strips (CMO) 0.375%, 07/15/27 (c) (d) ...... 46,399,080 51,742,224 0.523%, 1M LIBOR + 0.450%, 09/15/42 (a) ...... 2,321,745 2,350,341 0.500%, 04/15/24 (c) (d) ...... 81,764,397 88,128,818 Freddie Mac Structured Pass-Through Securities (CMO) 0.500%, 01/15/28 (c) (d) ...... 80,540,414 90,290,208 0.352%, 1M LIBOR + 0.260%, 08/25/31 (a) ...... 21,779 21,268 0.625%, 04/15/23 (c) (d) ...... 80,429,914 85,078,197 1.316%, 12M MTA + 1.200%, 10/25/44 (a) ...... 1,158,458 1,189,700 0.625%, 01/15/24 (c) (d) (h) ...... 57,297,712 61,706,950 1.328%, 12M MTA + 1.200%, 02/25/45 (a) ...... 344,202 346,980 0.625%, 01/15/26 (c) (d) ...... 56,030,128 62,218,247 Government National Mortgage Association (CMO) 0.750%, 07/15/28 (c) (d) ...... 47,472,624 54,467,418 0.599%, 12M LIBOR + 0.150%, 08/20/68 (a) ...... 3,200,764 3,172,157 0.875%, 01/15/29 (d) (f) ...... 17,356,236 20,081,256 0.937%, 1M LIBOR + 0.830%, 08/20/66 (a) ...... 208,008 211,917 U.S. Treasury Notes 1.029%, 12M LIBOR + 0.750%, 04/20/67 (a) ...... 2,522,266 2,559,482 1.750%, 12/31/24 (c) ...... 2,260,000 2,351,812 Uniform Mortgage-Backed Securities 30 Yr. Pool 3.500%, TBA (b) ...... 17,720,000 18,663,105 2,442,393,761 4.000%, TBA (b) ...... 102,270,000 108,949,537 Total U.S. Treasury & Government Agencies 143,119,734 (Cost $2,430,362,115) ...... 2,585,513,495

U.S. Treasury—101.5% Foreign Government—10.2% U.S. Treasury Bond 1.625%, 11/15/50 (c) ...... 12,550,000 11,271,469 Sovereign—10.2% U.S. Treasury Inflation Indexed Bonds Australia Government Bonds 0.125%, 02/15/51 (d) (e) ...... 7,383,384 8,104,610 1.250%, 02/21/22 (AUD) (d) ...... 8,500,000 7,670,145 0.250%, 02/15/50 (d) ...... 12,274,479 13,883,427 3.000%, 09/20/25 (AUD) (d) ...... 11,150,000 12,552,616 0.625%, 02/15/43 (d) ...... 9,986,664 11,922,360 Canadian Government Real Return Bond 0.750%, 02/15/42 (c) (d) ...... 53,363,154 64,966,861 4.250%, 12/01/26 (CAD) (d) ...... 7,666,656 7,978,988 0.750%, 02/15/45 (d) ...... 17,868,215 22,025,367 French Republic Government Bond OAT 0.875%, 02/15/47 (c) (d) ...... 42,644,659 54,833,924 0.100%, 03/01/26 (144A) (EUR) (d) ...... 15,727,075 20,282,352 1.000%, 02/15/46 (c) (d) ...... 63,594,942 83,070,065 0.250%, 07/25/24 (EUR) (d) ...... 4,217,889 5,342,956 1.375%, 02/15/44 (c) (d) ...... 87,289,358 120,392,255 Italy Buoni Poliennali Del Tesoro 1.750%, 01/15/28 (c) (d) ...... 122,890,522 148,508,715 0.400%, 05/15/30 (144A) (EUR) (d) ...... 30,705,324 39,328,831 2.000%, 01/15/26 (d) ...... 29,509,363 34,716,151 1.400%, 05/26/25 (144A) (EUR) (d) ...... 57,044,808 73,075,157 2.125%, 02/15/40 (d) ...... 24,494,611 36,498,884 Japanese Government CPI Linked Bonds 2.125%, 02/15/41 (d) ...... 18,567,502 27,968,267 0.005%, 03/10/31 (JPY) (d) ...... 954,657,000 8,782,209 2.375%, 01/15/25 (c) (d) ...... 58,484,542 67,958,581 0.100%, 03/10/28 (JPY) (d) ...... 1,632,464,920 15,061,673 2.375%, 01/15/27 (d) ...... 503,078 616,192 0.100%, 03/10/29 (JPY) (d) ...... 2,206,337,940 20,406,069 2.500%, 01/15/29 (d) ...... 28,914,028 37,240,364 0.200%, 03/10/30 (JPY) (d) ...... 129,236,900 1,216,347 3.375%, 04/15/32 (d) (e) (f) ...... 2,914,985 4,298,502

See accompanying notes to financial statements. BHFTI-290 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Foreign Government—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Sovereign—(Continued) Asset-Backed - Other—5.0% Mexican Bonos AlbaCore EURO CLO I DAC 7.750%, 05/29/31 (MXN) ...... 97,900,000 $ 5,183,975 1.530%, 3M EURIBOR + 1.530%, 07/18/31 (144A) New Zealand Government Inflation Linked Bonds (EUR) (a) ...... 1,100,000 $ 1,304,954 2.500%, 09/20/35 (NZD) (d) ...... 1,643,550 1,565,797 AMMC CLO, Ltd. 3.000%, 09/20/30 (NZD) (d) ...... 11,600,000 11,339,437 1.069%, 3M LIBOR + 0.950%, 11/10/30 (144A) (a) .... 1,000,000 1,000,105 Peruvian Government International Bond 1.166%, 3M LIBOR + 0.980%, 04/14/29 (144A) (a) .... 5,700,000 5,699,054 5.940%, 02/12/29 (144A) (PEN) ...... 6,800,000 1,930,846 Anchorage Capital CLO, Ltd. Qatar Government International Bond 1.234%, 3M LIBOR + 1.050%, 07/15/30 (144A) (a) .... 1,300,000 1,300,052 3.875%, 04/23/23 ...... 2,500,000 2,653,760 Apidos CLO XXVII United Kingdom Gilt Inflation Linked Bond 1.054%, 3M LIBOR + 0.930%, 07/17/30 (144A) (a) .... 1,700,000 1,700,537 1.250%, 11/22/27 (GBP) (d) ...... 6,420,353 11,477,294 ARES L CLO, Ltd. Total Foreign Government 1.174%, 3M LIBOR + 1.050%, 01/15/32 (144A) (a) .... 700,000 700,133 (Cost $237,382,332) ...... 245,848,452 Argent Securities Trust 0.412%, 1M LIBOR + 0.320%, 05/25/36 (a) ...... 245,784 88,608 ASSURANT CLO, Ltd. Asset-Backed Securities—6.5% 1.141%, 3M LIBOR + 1.040%, 10/20/31 (144A) (a) .... 1,100,000 1,100,000 Atlas Senior Loan Fund, Ltd. Asset-Backed - Home Equity—1.2% 1.530%, 3M LIBOR + 1.150%, 01/16/30 (144A) (a) .... 2,300,000 2,299,892 ACE Securities Corp. Home Equity Loan Trust Atrium XII 0.292%, 1M LIBOR + 0.200%, 03/25/37 (a) ...... 531,079 319,822 1.014%, 3M LIBOR + 0.830%, 04/22/27 (144A) (a) .... 2,264,136 2,262,768 1.142%, 1M LIBOR + 1.050%, 12/25/33 (a) ...... 1,427,155 1,421,800 Babson Euro CLO B.V. Asset Backed Securities Corp. Home Equity Loan Trust 0.281%, 3M EURIBOR + 0.820%, 10/25/29 (144A) 0.917%, 1M LIBOR + 0.825%, 04/25/34 (a) ...... 1,540,177 1,517,000 (EUR) (a) ...... 310,155 367,624 Citigroup Mortgage Loan Trust, Inc. Bain Capital Credit, Ltd. 0.272%, 1M LIBOR + 0.180%, 03/25/37 (a) ...... 1,066,254 975,132 1.426%, 3M LIBOR + 1.250%, 07/25/30 (144A) (a) .... 3,398,490 3,398,490 0.382%, 1M LIBOR + 0.290%, 09/25/36 (144A) (a) .... 1,485,161 1,435,386 Birch Grove CLO, Ltd. 0.782%, 1M LIBOR + 0.690%, 10/25/35 (a) ...... 3,700,000 3,576,345 Zero Coupon, 3M LIBOR + 1.130%, 06/15/31 First NLC Trust (144A) (a) ...... 1,000,000 1,000,106 0.162%, 1M LIBOR + 0.070%, 08/25/37 (144A) (a) .... 932,626 596,238 Black Diamond CLO, Ltd. GSAA Home Equity Trust 0.650%, 3M EURIBOR + 0.650%, 10/03/29 (144A) 6.720%, 03/25/46 (i) ...... 381,675 285,312 (EUR) (a) ...... 1,245,288 1,476,602 Home Equity Asset Trust 1.244%, 3M LIBOR + 1.050%, 10/03/29 (144A) (a) .... 804,751 803,079 0.542%, 1M LIBOR + 0.675%, 02/25/36 (a) ...... 2,400,000 2,381,957 Carlyle Global Market Strategies Euro CLO, Ltd. 0.887%, 1M LIBOR + 0.795%, 07/25/34 (a) ...... 165,726 164,480 0.730%, 3M EURIBOR + 0.730%, 09/21/29 (144A) 0.947%, 1M LIBOR + 0.855%, 08/25/34 (a) ...... 370,961 369,558 (EUR) (a) ...... 178,864 212,045 HSI Asset Securitization Corp. Trust 1.096%, 3M LIBOR + 0.950%, 08/14/30 (144A) (a) .... 2,300,000 2,300,000 0.192%, 1M LIBOR + 0.100%, 10/25/36 (a) ...... 4,561 2,323 Catamaran CLO, Ltd. Master Asset-Backed Securities Trust 1.031%, 3M LIBOR + 0.850%, 01/27/28 (144A) (a) .... 1,870,586 1,870,611 0.842%, 1M LIBOR + 0.750%, 10/25/35 (a) ...... 118,296 117,113 1.444%, 3M LIBOR + 1.260%, 04/22/30 (144A) (a) .... 1,989,793 1,980,972 Morgan Stanley ABS Capital, Inc. Trust Cathedral Lake, Ltd. 0.752%, 1M LIBOR + 0.660%, 01/25/35 (a) ...... 736,006 734,406 1.034%, 3M LIBOR + 0.850%, 07/16/29 (144A) (a) .... 800,000 800,015 0.767%, 1M LIBOR + 0.675%, 09/25/35 (a) ...... 1,300,000 1,276,688 CIFC Funding, Ltd. New Century Home Equity Loan Trust 1.038%, 3M LIBOR + 0.950%, 10/24/30 (144A) (a) .... 2,500,000 2,500,635 0.857%, 1M LIBOR + 0.765%, 02/25/35 (a) ...... 423,187 418,180 CIT Mortgage Loan Trust Nomura Home Equity Loan, Inc 1.442%, 1M LIBOR + 1.350%, 10/25/37 (144A) (a) .... 2,244,639 2,266,571 0.527%, 1M LIBOR + 0.435%, 03/25/36 (a) ...... 2,951,030 2,918,731 1.592%, 1M LIBOR + 1.500%, 10/25/37 (144A) (a) .... 4,400,000 4,470,288 NovaStar Mortgage Funding Trust CoreVest American Finance Trust 0.797%, 1M LIBOR + 0.705%, 01/25/36 (a) ...... 1,639,704 1,633,896 2.968%, 10/15/49 (144A) ...... 164,751 165,113 RASC Trust Countrywide Asset-Backed Certificates 0.552%, 1M LIBOR + 0.230%, 06/25/36 (a) ...... 5,128,127 5,012,473 0.282%, 1M LIBOR + 0.190%, 11/25/37 (a) ...... 7,079,051 6,751,957 Soundview Home Loan Trust Credit-Based Asset Servicing and Securitization LLC 0.152%, 1M LIBOR + 0.060%, 11/25/36 (144A) (a) .... 44,668 17,954 0.212%, 1M LIBOR + 0.120%, 07/25/37 (144A) (a) .... 80,226 62,423 0.272%, 1M LIBOR + 0.180%, 07/25/37 (a) ...... 411,357 395,160 0.312%, 1M LIBOR + 0.220%, 07/25/37 (144A) (a) .... 1,598,887 1,260,651 0.292%, 1M LIBOR + 0.200%, 06/25/37 (a) ...... 2,373,653 1,952,830 CSAB Mortgage-Backed Trust 27,522,784 6.220%, 09/25/36 (i) ...... 450,738 202,196

See accompanying notes to financial statements. BHFTI-291 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Asset-Backed - Other—(Continued) CWABS Asset-Backed Certificates Trust OAK Hill European Credit Partners VII DAC 0.832%, 1M LIBOR + 0.740%, 08/25/47 (a) ...... 33,048 $ 32,464 0.740%, 3M EURIBOR + 0.740%, 10/20/31 (144A) 0.887%, 1M LIBOR + 0.795%, 02/25/36 (a) ...... 2,701,339 2,698,445 (EUR) (a) ...... 2,100,000 $ 2,491,315 Dryden 44 Euro CLO B.V. OCP CLO, Ltd. 0.860%, 3M EURIBOR + 0.860%, 05/15/34 (144A) 0.984%, 3M LIBOR + 0.800%, 07/15/27 (144A) (a) .... 481,689 481,705 (EUR) (a) ...... 1,000,000 1,184,030 0.996%, 3M LIBOR + 0.820%, 10/26/27 (144A) (a) .... 81,180 81,077 Ellington Loan Acquisition Trust Palmer Square European Loan Funding DAC 1.192%, 1M LIBOR + 1.100%, 05/25/37 (144A) (a) .... 1,501,131 1,503,690 0.870%, 3M EURIBOR + 0.870%, 02/15/30 (144A) First Franklin Mortgage Loan Trust (EUR) (a) ...... 4,108,995 4,913,295 0.212%, 1M LIBOR + 0.120%, 12/25/36 (a) ...... 11,056,669 9,876,150 Palmer Square Loan Funding, Ltd. 0.402%, 1M LIBOR + 0.310%, 07/25/36 (a) ...... 2,569,722 2,523,103 Zero Coupon, 3M LIBOR + 0.800%, 07/20/29 GSAMP Trust (144A) (a) ...... 3,600,000 3,600,000 0.827%, 1M LIBOR + 0.735%, 09/25/35 (a) ...... 154,415 154,470 1.076%, 3M LIBOR + 0.900%, 10/24/27 (144A) (a) .... 279,875 279,888 Halcyon Loan Advisors Funding, Ltd. Park Place Securities, Inc. Asset-Backed Pass-Through Certificates 1.108%, 3M LIBOR + 0.920%, 04/20/27 (144A) (a) .... 287,293 287,221 0.782%, 1M LIBOR + 0.690%, 05/25/35 (a) ...... 76,877 76,935 HSI Asset Securitization Corp. Trust 0.827%, 1M LIBOR + 0.735%, 09/25/35 (a) ...... 200,000 198,421 0.252%, 1M LIBOR + 0.160%, 05/25/37 (a) ...... 237,078 234,065 1.142%, 1M LIBOR + 1.050%, 10/25/34 (a) ...... 4,000,000 3,997,049 ICG U.S. CLO, Ltd. Penta CLO B.V. 1.584%, 3M LIBOR + 1.400%, 10/22/31 (144A) (a) .... 200,000 200,151 0.790%, 6M EURIBOR + 0.790%, 08/04/28 (144A) Jamestown CLO, Ltd. (EUR) (a) ...... 574,459 681,230 1.410%, 3M LIBOR + 1.220%, 01/17/27 (144A) (a) .... 407,465 407,609 RAAC Trust JPMorgan Mortgage Acquisition Trust 0.602%, 1M LIBOR + 0.510%, 08/25/36 (a) ...... 229,584 232,537 0.302%, 1M LIBOR + 0.210%, 10/25/36 (a) ...... 121,343 119,294 Romark CLO, Ltd. Jubilee CLO B.V. Zero Coupon, 3M LIBOR + 1.030%, 10/23/30 0.295%, 3M EURIBOR + 0.840%, 07/12/28 (144A) (144A) (a) ...... 1,300,000 1,300,136 (EUR) (a) ...... 1,027,755 1,214,483 Saxon Asset Securities Trust KVK CLO, Ltd. 0.402%, 1M LIBOR + 0.310%, 09/25/37 (a) ...... 824,186 810,478 1.086%, 3M LIBOR + 0.900%, 01/14/28 (144A) (a) .... 900,373 900,422 Securitized Asset-Backed Receivables LLC Trust Laurelin B.V. 0.392%, 1M LIBOR + 0.300%, 07/25/36 (a) ...... 319,177 178,929 0.720%, 3M EURIBOR + 0.720%, 10/20/31 (144A) 0.412%, 1M LIBOR + 0.320%, 07/25/36 (a) ...... 3,417,243 1,615,591 (EUR) (a) ...... 700,000 830,056 Segovia European CLO Legacy Mortgage Asset Trust 0.880%, 3M EURIBOR + 0.880%, 07/20/32 (144A) 3.750%, 04/25/59 (144A) (i) ...... 452,334 456,097 (EUR) (a) ...... 300,000 355,725 LoanCore Issuer, Ltd. Small Business Administration Participation Certificates 1.203%, 1M LIBOR + 1.130%, 05/15/36 (144A) (a) .... 3,500,000 3,498,915 5.510%, 11/01/27 ...... 558,575 608,889 Long Beach Mortgage Loan Trust Sound Point CLO, Ltd. 0.212%, 1M LIBOR + 0.120%, 08/25/36 (a) ...... 987,593 524,802 1.073%, 3M LIBOR + 0.900%, 01/23/29 (144A) (a) .... 2,000,000 2,000,060 0.827%, 1M LIBOR + 0.735%, 08/25/35 (a) ...... 170,236 170,592 SP-STATIC CLO 1, Ltd. Mackay Shields Euro CLO-2 DAC 1.584%, 3M LIBOR + 1.400%, 07/22/28 (144A) (a) .... 2,060,834 2,061,193 1.550%, 3M EURIBOR + 1.550%, 08/15/33 (144A) Stanwich Mortgage Loan Co. LLC (EUR) (a) ...... 950,000 1,127,828 3.375%, 08/15/24 (144A) (i) ...... 310,683 312,603 Man GLG Euro CLO II DAC Steele Creek CLO, Ltd. 1.049%, 3M LIBOR + 0.900%, 05/21/29 (144A) (a) .... 2,500,000 2,497,875 0.870%, 3M EURIBOR + 0.870%, 01/15/30 (144A) Structured Asset Securities Corp. Mortgage Loan Trust (EUR) (a) ...... 999,471 1,185,715 1.592%, 1M LIBOR + 1.500%, 04/25/35 (a) ...... 108,552 109,063 Marlette Funding Trust Symphony CLO, Ltd. 2.690%, 09/17/29 (144A) ...... 86,831 87,105 1.136%, 3M LIBOR + 0.950%, 07/14/26 (144A) (a) .... 874,673 874,696 Morgan Stanley ABS Capital, Inc. Trust THL Credit Wind River CLO, Ltd. 1.067%, 1M LIBOR + 0.975%, 07/25/34 (a) ...... 56,489 56,032 1.054%, 3M LIBOR + 0.870%, 10/15/27 (144A) (a) .... 94,760 94,708 Morgan Stanley IXIS Real Estate Capital Trust Towd Point Mortgage Trust 0.142%, 1M LIBOR + 0.050%, 11/25/36 (a) ...... 580 259 1.092%, 1M LIBOR + 1.000%, 10/25/59 (144A) (a) .... 1,591,537 1,603,391 Mountain View CLO LLC Venture CLO, Ltd. 1.274%, 3M LIBOR + 1.090%, 10/16/29 (144A) (a) .... 2,000,000 2,000,704 1.004%, 3M LIBOR + 0.820%, 04/15/27 (144A) (a) .... 2,225,030 2,222,882 MP CLO VII, Ltd. 1.064%, 3M LIBOR + 0.880%, 07/15/27 (144A) (a) .... 1,249,931 1,250,031 0.891%, 3M LIBOR + 0.890%, 10/18/28 (144A) (a) .... 1,800,000 1,800,331 1.088%, 3M LIBOR + 0.900%, 10/20/28 (144A) (a) .... 1,179,154 1,178,392 1.208%, 3M LIBOR + 1.020%, 04/20/29 (144A) (a) .... 485,758 485,636

See accompanying notes to financial statements. BHFTI-292 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Banks—(Continued) Voya CLO, Ltd. Nykredit Realkredit A/S 0.978%, 3M LIBOR + 0.900%, 07/20/29 (144A) (a) .... 800,000 $ 800,178 1.500%, 10/01/53 (DKK) ...... 6,200,000 $ 969,558 Z Capital Credit Partners CLO, Ltd. 2.500%, 10/01/47 (DKK) ...... 7,440 1,263 1.134%, 3M LIBOR + 0.950%, 07/16/27 (144A) (a) .... 1,323,844 1,321,659 UniCredit S.p.A. 7.830%, 12/04/23 (144A) ...... 10,700,000 12,339,882 121,135,081 76,851,261 Asset-Backed - Student Loan—0.3% College Loan Corp. Trust Chemicals—0.0% 0.426%, 3M LIBOR + 0.250%, 01/25/24 (a) ...... 900,000 889,478 Syngenta Finance NV SLM Student Loan Trust 4.441%, 04/24/23 (144A) ...... 400,000 422,277 Zero Coupon, 3M EURIBOR + 0.270%, 06/17/24 (EUR) (a) ...... 26,671 31,622 Commercial Services—0.0% 0.726%, 3M LIBOR + 0.550%, 10/25/64 (144A) (a) .... 3,172,162 3,164,445 RELX Capital, Inc. 1.676%, 3M LIBOR + 1.500%, 04/25/23 (a) ...... 2,732,035 2,755,102 3.500%, 03/16/23 ...... 300,000 314,559

6,840,647 Distribution/Wholesale—0.0% Total Asset-Backed Securities Toyota Tsusho Corp. (Cost $152,029,281) ...... 155,498,512 3.625%, 09/13/23 ...... 200,000 212,785

Diversified Financial Services—1.8% Corporate Bonds & Notes—5.8% Avolon Holdings Funding, Ltd. 5.500%, 01/15/23 (144A) ...... 115,000 122,143 Auto Manufacturers—0.1% Jyske Realkredit A/S Ford Motor Credit Co. LLC 0.500%, 10/01/43 (DKK) ...... 7,250,871 1,096,390 3.550%, 10/07/22 ...... 2,100,000 2,155,125 1.000%, 10/01/50 (DKK) ...... 98,543,281 15,116,403 Nissan Motor Acceptance Corp. 1.000%, 10/01/53 (DKK) ...... 22,452,504 3,359,974 1.900%, 09/14/21 (144A) ...... 100,000 100,274 2.500%, 10/01/47 (DKK) ...... 4,987 846 2.650%, 07/13/22 (144A) ...... 100,000 101,632 Mitsubishi HC Capital, Inc. 2,357,031 3.960%, 09/19/23 (144A) ...... 400,000 426,486 Nordea Kredit Realkreditaktieselskab Banks—3.2% 0.500%, 10/01/43 (DKK) ...... 2,974,980 450,240 Banco Bilbao Vizcaya Argentaria S.A. 1.000%, 10/01/50 (DKK) ...... 64,564,373 9,909,222 5.875%, 5Y EUR Swap + 5.660%, 09/24/23 (EUR) (a) . . . 200,000 256,122 1.500%, 10/01/53 (DKK) ...... 9,100,000 1,420,038 Banco Santander S.A. 2.500%, 10/01/47 (DKK) ...... 1,242 211 6.250%, 5Y EUR Swap + 5.640%, 09/11/21 (EUR) (a) . . . 100,000 119,744 Park Aerospace Holdings, Ltd. Bank of America Corp. 5.250%, 08/15/22 (144A) ...... 7,000 7,325 5.875%, 3M LIBOR + 2.931%, 03/15/28 (a) ...... 1,570,000 1,796,959 Realkredit Danmark A/S Credit Suisse Group Funding Guernsey, Ltd. 1.000%, 10/01/53 (DKK) ...... 78,392,432 11,725,213 3.800%, 09/15/22 ...... 6,600,000 6,867,839 2.500%, 04/01/47 (DKK) ...... 11,465 1,946 Deutsche Bank AG 43,636,437 4.250%, 10/14/21 ...... 11,700,000 11,826,867 ING Bank NV Electric—0.1% 2.625%, 12/05/22 (144A) ...... 3,300,000 3,408,114 Enel Finance International NV JPMorgan Chase & Co. 2.875%, 05/25/22 (144A) ...... 500,000 510,942 3.656%, 3M LIBOR + 3.470%, 07/30/21 (a) ...... 440,000 441,100 Eversource Energy Lloyds Banking Group plc 2.900%, 10/01/24 ...... 100,000 105,917 4.947%, 5Y EURIBOR Swap + 5.290%, 12/31/49 (EUR) (a) . . 900,000 1,176,595 Sempra Energy Natwest Group plc 2.900%, 02/01/23 ...... 500,000 517,516 1.697%, 3M LIBOR + 1.550%, 06/25/24 (a) ...... 2,600,000 2,658,929 4.050%, 12/01/23 ...... 400,000 429,496 4.519%, 3M LIBOR + 1.550%, 06/25/24 (a) ...... 1,700,000 1,825,088 1,563,871 8.625%, 5Y USD Swap + 7.598%, 08/15/21 (a) ...... 1,040,000 1,047,509 Nykredit Realkredit A/S Gas—0.0% 0.500%, 10/01/43 (DKK) ...... 21,896,860 3,299,586 Southern Co. Gas Capital Corp. 1.000%, 10/01/50 (DKK) ...... 188,585,270 28,816,106 2.450%, 10/01/23 ...... 200,000 207,875

See accompanying notes to financial statements. BHFTI-293 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Home Builders—0.1% Trucking & Leasing—0.0% DR Horton, Inc. SMBC Aviation Capital Finance DAC 5.750%, 08/15/23 ...... 900,000 $ 986,986 3.000%, 07/15/22 (144A) ...... 200,000 $ 204,560 Total Corporate Bonds & Notes Insurance—0.0% (Cost $138,760,949) ...... 140,444,995 Jackson National Life Global Funding 2.375%, 09/15/22 (144A) ...... 300,000 307,183 Reliance Standard Life Global Funding II Mortgage-Backed Securities—3.2% 3.850%, 09/19/23 (144A) ...... 100,000 106,959 414,142 Collateralized Mortgage Obligations—3.0% Alternative Loan Trust Machinery-Construction & Mining—0.0% 0.272%, 1M LIBOR + 0.180%, 05/25/47 (a) ...... 162,851 155,057 Komatsu Finance America, Inc. 0.273%, 1M LIBOR + 0.180%, 02/20/47 (a) ...... 552,800 430,761 2.437%, 09/11/22 ...... 200,000 204,309 0.332%, 1M LIBOR + 0.240%, 06/25/36 (a) ...... 1,587,696 1,536,228 0.652%, 1M LIBOR + 0.560%, 12/25/35 (a) ...... 19,954 19,853 Media—0.0% 5.000%, 07/25/35 ...... 166,658 129,716 Charter Communications Operating LLC / Charter 5.500%, 06/25/25 ...... 518,608 500,612 Communications Operating Capital 6.000%, 03/25/37 ...... 3,550,974 2,121,261 4.464%, 07/23/22 ...... 200,000 207,058 6.000%, 04/25/37 ...... 750,229 755,491 Banc of America Funding Trust Oil & Gas—0.2% 0.533%, 1M LIBOR + 0.440%, 07/20/36 (a) ...... 8,154 8,153 Petrobras Global Finance B.V. 2.707%, 02/20/36 (a) ...... 259,521 260,029 5.093%, 01/15/30 ...... 3,897,000 4,253,614 Banc of America Mortgage Trust 6.250%, 12/14/26 (GBP) ...... 400,000 632,932 2.474%, 06/25/35 (a) ...... 41,351 38,845 3.035%, 09/25/35 (a) ...... 41,687 40,973 4,886,546 Bear Stearns Adjustable Rate Mortgage Trust 2.855%, 03/25/35 (a) ...... 175,667 174,671 Pharmaceuticals—0.0% Bear Stearns ALT-A Trust Shire Acquisitions Investments Ireland DAC 0.412%, 1M LIBOR + 0.320%, 02/25/34 (a) ...... 87,674 84,913 2.875%, 09/23/23 ...... 100,000 104,648 3.008%, 09/25/35 (a) ...... 545,863 424,762 Chase Mortgage Finance Trust Retail—0.3% 2.733%, 02/25/37 (a) ...... 21,499 21,657 McDonald’s Corp. CHL Mortgage Pass-Through Trust 0.614%, 3M LIBOR + 0.430%, 10/28/21 (a) ...... 6,900,000 6,908,473 0.672%, 1M LIBOR + 0.580%, 04/25/35 (a) ...... 348,831 329,663 2.639%, 11/20/34 (a) ...... 6,485 6,549 Semiconductors—0.0% 2.992%, 08/25/34 (a) ...... 28,425 28,378 NXP B.V. / NXP Funding LLC 6.000%, 03/25/37 ...... 1,029,731 787,057 3.875%, 09/01/22 (144A) ...... 200,000 207,377 Citigroup Mortgage Loan Trust 4.625%, 06/01/23 (144A) ...... 200,000 214,948 1.915%, 08/25/35 (a) ...... 9,142 9,203 422,325 2.470%, 1Y H15 + 2.400%, 05/25/35 (a) ...... 4,433 4,490 3.192%, 03/25/37 (a) ...... 2,027,174 2,024,944 Software—0.0% 3.258%, 04/25/66 (144A) (a) ...... 481,638 485,703 VMware, Inc. Countrywide Home Reperforming Loan REMIC Trust 3.900%, 08/21/27 ...... 300,000 333,403 0.432%, 1M LIBOR + 0.340%, 06/25/35 (144A) (a) ...... 46,453 44,529 Credit Suisse Mortgage Capital Certificates Telecommunications—0.0% 0.242%, 1M LIBOR + 0.150%, 09/29/36 (144A) (a) ...... 1,536,575 1,501,342 NTT Finance Corp. 0.592%, 11/30/37 (144A) (a) ...... 2,600,000 2,453,053 1.900%, 07/21/21 ...... 200,000 200,164 2.980%, 10/27/59 (144A) (a) ...... 2,903,668 2,926,688 Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint 3.322%, 10/25/58 (144A) (a) ...... 165,581 166,695 Spectrum Co. III LLC 6.039%, 10/26/36 (144A) (a) ...... 55,947 55,322 3.360%, 09/20/21 (144A) ...... 6,250 6,285 Deutsche ALT-B Securities Mortgage Loan Trust 0.192%, 1M LIBOR + 0.100%, 10/25/36 (a) ...... 12,791 9,979 206,449 6.369%, 10/25/36 (i) ...... 224,653 221,896 6.386%, 10/25/36 (i) ...... 224,653 221,893 Eurosail-UK plc 1.034%, 3M GBP LIBOR + 0.950%, 06/13/45 (GBP) (a) .... 1,430,603 1,982,402

See accompanying notes to financial statements. BHFTI-294 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mortgage-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Collateralized Mortgage Obligations—(Continued) Collateralized Mortgage Obligations—(Continued) First Horizon Alternative Mortgage Securities Trust Residential Accredit Loans, Inc. 2.179%, 06/25/34 (a) ...... 87,815 $ 89,598 1.023%, 10/25/37 (a) ...... 861,751 $ 827,854 Great Hall Mortgages No. 1 plc 1.476%, 12M MTA + 1.360%, 09/25/45 (a) ...... 73,746 71,984 0.210%, 3M GBP LIBOR + 0.130%, 03/18/39 (GBP) (a) .... 109,794 150,201 Residential Asset Securitization Trust 0.230%, 3M GBP LIBOR + 0.150%, 06/18/38 (GBP) (a) .... 64,177 87,826 6.500%, 09/25/36 ...... 280,009 154,136 GreenPoint Mortgage Funding Trust Residential Mortgage Securities 32 plc 0.272%, 1M LIBOR + 0.180%, 09/25/46 (a) ...... 390,337 380,519 1.299%, 3M SONIA + 1.250%, 06/20/70 (144A) (GBP) (a) . . 2,908,792 4,067,881 0.532%, 1M LIBOR + 0.440%, 06/25/45 (a) ...... 164,360 154,031 Sequoia Mortgage Trust 0.632%, 1M LIBOR + 0.540%, 11/25/45 (a) ...... 97,357 88,208 0.493%, 1M LIBOR + 0.400%, 07/20/36 (a) ...... 353,066 347,178 GSR Mortgage Loan Trust 0.793%, 1M LIBOR + 0.700%, 10/19/26 (a) ...... 25,318 25,061 2.590%, 12/25/34 (a) ...... 248,440 251,681 Structured Adjustable Rate Mortgage Loan Trust 2.678%, 01/25/35 (a) ...... 44,861 44,392 1.516%, 12M MTA + 1.400%, 01/25/35 (a) ...... 54,875 51,105 2.869%, 05/25/35 (a) ...... 184,579 181,774 2.537%, 02/25/34 (a) ...... 46,923 47,603 2.925%, 09/25/35 (a) ...... 78,958 80,510 Structured Asset Mortgage Investments II Trust 3.190%, 11/25/35 (a) ...... 236,251 225,354 0.472%, 1M LIBOR + 0.380%, 06/25/36 (a) ...... 30,135 30,430 HarborView Mortgage Loan Trust 0.512%, 1M LIBOR + 0.420%, 05/25/36 (a) ...... 22,340 19,458 0.283%, 1M LIBOR + 0.190%, 09/19/37 (a) ...... 23,409 22,798 0.593%, 1M LIBOR + 0.500%, 07/19/35 (a) ...... 68,302 66,266 0.533%, 1M LIBOR + 0.440%, 05/19/35 (a) ...... 36,510 35,121 0.753%, 1M LIBOR + 0.660%, 10/19/34 (a) ...... 40,846 40,137 0.653%, 1M LIBOR + 0.560%, 02/19/36 (a) ...... 91,339 62,840 TBW Mortgage-Backed Trust 0.993%, 1M LIBOR + 0.900%, 06/20/35 (a) ...... 220,321 217,263 6.015%, 07/25/37 (i) ...... 172,944 99,174 Hawksmoor Mortgages plc Towd Point Mortgage Funding plc 1.099%, 3M SONIA + 1.050%, 05/25/53 (144A) 1.111%, 3M GBP LIBOR + 1.025%, 10/20/51 (144A) ...... 6,204,191 8,630,592 (GBP)(a) ...... 7,624,899 10,592,308 Wachovia Mortgage Loan Trust IndyMac INDA Mortgage Loan Trust 0.552%, 1M LIBOR + 0.460%, 01/25/37 (a) ...... 1,983,807 1,057,826 2.924%, 11/25/35 (a) ...... 39,188 38,292 WaMu Mortgage Pass-Through Certificates Trust JPMorgan Mortgage Trust 0.886%, 12M MTA + 0.770%, 05/25/47 (a) ...... 207,227 200,184 2.453%, 02/25/35 (a) ...... 64,650 65,673 0.938%, 12M MTA + 0.810%, 12/25/46 (a) ...... 42,570 42,232 2.568%, 06/25/35 (a) ...... 205,349 214,278 1.116%, 12M MTA + 1.000%, 02/25/46 (a) ...... 76,329 76,828 2.708%, 09/25/35 (a) ...... 13,487 12,845 1.116%, 12M MTA + 1.000%, 08/25/46 (a) ...... 2,322,545 2,318,226 2.801%, 07/25/35 (a) ...... 57,478 58,341 1.316%, 12M MTA + 1.200%, 11/25/42 (a) ...... 8,471 8,347 2.949%, 07/27/37 (144A) (a) ...... 384,966 376,542 1.843%, COFI + 1.500%, 07/25/46 (a) ...... 383,119 374,468 2.979%, 08/25/35 (a) ...... 82,597 83,600 1.843%, COFI + 1.500%, 11/25/46 (a) ...... 112,745 110,685 3.179%, 07/25/35 (a) ...... 58,990 61,264 2.022%, 08/25/35 (a) ...... 10,513 10,310 3.214%, 08/25/35 (a) ...... 111,379 104,594 2.611%, 11/25/36 (a) ...... 4,564,008 4,536,657 Lehman XS Trust 3.132%, 12/25/35 (a) ...... 67,677 69,066 0.632%, 1M LIBOR + 0.540%, 12/25/35 (a) ...... 89,118 87,579 Wells Fargo Mortgage-Backed Securities Trust 1.242%, 1M LIBOR + 1.150%, 12/25/37 (a) ...... 3,369,298 3,485,461 2.827%, 04/25/36 (a) ...... 57,092 55,909 MASTR Adjustable Rate Mortgages Trust 71,025,825 2.079%, 12/25/33 (a) ...... 41,491 40,879 2.876%, 11/21/34 (a) ...... 56,289 56,838 Commercial Mortgage-Backed Securities—0.2% Mellon Residential Funding Corp. Mortgage Pass-Through Trust AREIT Trust 0.513%, 1M LIBOR + 0.440%, 12/15/30 (a) ...... 13,668 13,391 2.745%, 1M LIBOR + 2.620%, 04/15/37 (144A) (a) ...... 2,357,416 2,370,756 0.773%, 1M LIBOR + 0.700%, 11/15/31 (a) ...... 76,492 77,785 Bancorp Commercial Mortgage Trust Merrill Lynch Mortgage Investors Trust 1.175%, 1M LIBOR + 1.050%, 09/15/36 (144A) (a) ...... 1,736,542 1,735,457 2.945%, 12/25/35 (a) ...... 50,104 42,812 GS Mortgage Securities Trust Mill City Mortgage Loan Trust 4.592%, 08/10/43 (144A) ...... 3,179 3,179 2.750%, 08/25/59 (144A) (a) ...... 875,894 907,542 JPMorgan Chase Commercial Mortgage Securities Trust New Residential Mortgage Loan Trust 1.523%, 1M LIBOR + 1.450%, 12/15/31 (144A) (a) ...... 1,419,806 1,408,662 2.750%, 07/25/59 (144A) (a) ...... 6,956,487 7,248,224 Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through 5,518,054 Certificates Total Mortgage-Backed Securities 1.142%, 1M LIBOR + 1.050%, 04/25/35 (a) ...... 2,000,000 2,024,328 (Cost $72,582,765) ...... 76,543,879 Residential Accredit Loans, Inc. 0.392%, 1M LIBOR + 0.300%, 08/25/35 (a) ...... 68,002 58,768

See accompanying notes to financial statements. BHFTI-295 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Preferred Stock—0.5%

Shares/ * Principal and notional amounts stated in U.S. dollars unless otherwise noted. Principal † Restricted securities are not registered under the Securities Act of 1933 and are subject Security Description Amount* Value to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Wireless Telecommunication Services—0.5% Disposal of these securities may involve time-consuming negotiations and prompt sale AT&T Mobility II LLC, 7.000%† (j)(k) at an acceptable price may be difficult. As of June 30, 2021, the market value of (Cost $12,009,870) ...... 444,022 $ 11,750,668 restricted securities was $11,750,668, which is 0.5% of net assets. See details shown in the Restricted Securities table that follows. Convertible Preferred Stock—0.1% (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 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 Banks—0.1% Wells Fargo & Co., Series L indicated in the description above. For certain variable rate securities, the coupon rate is 7.500%, 12/31/49 determined by the issuer/agent based on current market conditions. For certain asset- (Cost $900,000) ...... 900 1,373,589 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. Short-Term Investments—32.7% (b) 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 Discount Note—0.1% and maturity date will be determined upon settlement date. Federal Home Loan Bank (c) All or a portion of this security has been transferred in a secured-borrowing transaction. 0.040%, 09/17/21 (l) ...... 3,200,000 3,199,653 (See Note 2 of the Notes to Financial Statements) (d) Principal amount of security is adjusted for inflation. Repurchase Agreements—32.6% (e) All or a portion of the security was pledged as collateral against TBA securities. As of Barclays Capital, Inc. June 30, 2021, the value of securities pledged amounted to $228,067. Repurchase Agreement dated 06/30/21 at 0.040%, due (f) All or a portion of the security was pledged as collateral against open OTC option 07/01/21 with a maturity value of $779,100,216; contracts and forward foreign currency exchange contracts. As of June 30, 2021, the collateralized by U.S. Treasury Bonds with rates ranging market value of securities pledged was $244,645. from 2.875% to 3.125%, maturity dates ranging 02/15/43 to 5/15/47, with an aggregate market value of (g) All or a portion of the security was pledged as collateral against open futures contracts. $791,187,073...... 779,100,000 779,100,000 As of June 30, 2021, the market value of securities pledged was $7,804,733. Fixed Income Clearing Corp. (h) All or a portion of the security was pledged as collateral against open centrally cleared Repurchase Agreement dated 06/30/21 at 0.000%, due on swap contracts. As of June 30, 2021, the market value of securities pledged was 07/01/21 with a maturity value of $6,491,763; $9,394,633. collateralized by U.S. Treasury Note at 0.375%, maturing (i) Security is a “step-up” bond where coupon increases or steps up at a predetermined 04/15/24, with a market value of $6,621,661...... 6,491,763 6,491,763 date. Rate shown is current coupon rate. (j) Significant unobservable inputs were used in the valuation of this portfolio security; 785,591,763 i.e. Level 3. Total Short-Term Investments (k) Security was valued in good faith under procedures approved by the Board of Trustees. (Cost $788,791,486) ...... 788,791,416 As of June 30, 2021, these securities represent 0.5% of net assets. Total Purchased Options—0.2% (m) (l) The rate shown represents current yield to maturity. (Cost $1,806,896) ...... 3,921,063 (m) For a breakout of open positions, see details shown in the Purchased Options table that Total Investments—166.6% follows. (Cost $3,834,625,694) ...... 4,009,686,069 (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Other assets and liabilities (net)—(66.6)% ...... (1,603,509,100) These securities may be resold in transactions exempt from registration, normally to Net Assets—100.0% ...... $2,406,176,969 qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $293,166,823, which is 12.2% of net assets.

Acquisitio Restricted Securities Date Shares Cost Value AT&T Mobility II LLC, 7.000% ...... 09/24/20 444,022 $12,009,870 $11,750,668

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) AUD 6,567,069 CBNA ...... 07/02/21 USD 4,931,363 $ (6,389) AUD 13,540,602 UBSA ...... 07/02/21 USD 10,271,251 (116,475) BRL 17,928,445 CBNA ...... 07/02/21 USD 3,584,112 20,465

See accompanying notes to financial statements. BHFTI-296 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) BRL 17,928,445 GSBU ...... 07/02/21 USD 3,548,782 $ 55,795 CNH 37,455,000 CBNA ...... 09/15/21 USD 5,830,316 (68,294) DKK 8,740,000 BNP ...... 07/01/21 USD 1,423,318 (29,656) DKK 14,440,000 BBP ...... 07/01/21 USD 2,295,835 6,736 DKK 196,683,393 JPMC ...... 07/01/21 USD 31,570,544 (207,834) DKK 277,505,626 SG ...... 07/01/21 USD 44,565,364 (314,916) EUR 1,129,000 BNP ...... 07/02/21 USD 1,347,934 (9,222) EUR 2,234,000 GSBU ...... 07/02/21 USD 2,667,406 (18,440) GBP 954,000 BBP ...... 07/02/21 USD 1,322,618 (2,949) GBP 1,608,000 BBP ...... 07/02/21 USD 2,280,755 (56,409) IDR 85,807,425,540 CBNA ...... 09/15/21 USD 5,955,954 (73,665) JPY 3,622,035,223 JPMC ...... 07/02/21 USD 32,781,320 (178,275) JPY 1,390,668,232 UBSA ...... 07/02/21 USD 12,560,555 (42,726) MXN 3,835,000 UBSA ...... 07/14/21 USD 194,820 (2,721) MYR 506,797 GSBU ...... 09/15/21 USD 122,164 (459) NOK 49,715,000 UBSA ...... 08/17/21 USD 6,014,362 (239,055) NZD 17,971,500 BNP ...... 07/02/21 USD 12,573,787 (11,707) RUB 598,621 CBNA ...... 07/22/21 USD 7,750 413 RUB 1,200,469 GSBU ...... 07/22/21 USD 15,555 814 RUB 683,768 SG ...... 07/22/21 USD 8,803 521 RUB 635,049 UBSA ...... 07/22/21 USD 8,283 376 RUB 1,302,093 UBSA ...... 07/22/21 USD 16,979 776 RUB 1,452,414 CBNA ...... 08/20/21 USD 19,325 391 RUB 2,028,906 GSBU ...... 08/20/21 USD 27,078 464 RUB 938,162 SG ...... 08/20/21 USD 12,439 297 RUB 4,420,000 GSBU ...... 09/20/21 USD 60,240 (530) SEK 48,720,000 BNP ...... 08/17/21 USD 5,831,684 (136,448)

Contracts to Deliver AUD 14,782,541 BNP ...... 07/02/21 USD 11,488,024 401,856 AUD 203,000 BNP ...... 07/02/21 USD 156,080 3,840 AUD 5,122,130 UBSA ...... 07/02/21 USD 3,970,388 129,046 AUD 6,567,069 CBNA ...... 08/03/21 USD 4,932,076 6,314 AUD 13,540,602 UBSA ...... 08/03/21 USD 10,272,605 116,204 BRL 17,928,445 CBNA ...... 07/02/21 USD 3,361,195 (243,382) BRL 17,928,445 GSBU ...... 07/02/21 USD 3,584,112 (20,465) BRL 17,928,445 GSBU ...... 08/03/21 USD 3,537,369 (54,984) CAD 2,441,000 GSBU ...... 07/02/21 USD 2,026,233 57,049 CAD 2,441,000 BNP ...... 08/03/21 USD 1,971,203 2,052 DKK 228,713,929 CBNA ...... 07/01/21 USD 36,271,893 (198,337) DKK 8,865,000 GSBU ...... 07/01/21 USD 1,420,336 6,743 DKK 6,035,000 GSBU ...... 07/01/21 USD 983,569 21,241 DKK 254,984,120 JPMC ...... 07/01/21 USD 40,443,937 (215,281) DKK 196,683,393 JPMC ...... 10/01/21 USD 31,625,877 208,440 DKK 277,505,626 SG ...... 10/01/21 USD 44,642,477 314,812 EUR 134,407,196 BNP ...... 07/02/21 USD 164,427,420 5,054,070 EUR 2,391,000 CBNA ...... 07/02/21 USD 2,844,748 9,619 EUR 133,435,196 BNP ...... 08/03/21 USD 158,344,556 19,247 GBP 417,000 BNP ...... 07/02/21 USD 591,363 14,526 GBP 575,000 BBP ...... 07/02/21 USD 802,996 7,599 GBP 29,728,000 GSBU ...... 07/02/21 USD 42,027,270 904,529 GBP 28,158,000 CBNA ...... 08/03/21 USD 39,048,146 93,470 JPY 4,794,303,455 CBNA ...... 07/02/21 USD 43,837,960 682,972 JPY 218,400,000 UBSA ...... 07/02/21 USD 1,992,166 26,281 JPY 3,622,035,223 JPMC ...... 08/03/21 USD 32,790,339 178,722 JPY 1,390,668,232 UBSA ...... 08/03/21 USD 12,563,959 42,839 KRW 138,535,410 BNP ...... 09/15/21 USD 124,317 1,335 MXN 22,595,000 GSBU ...... 09/03/21 USD 1,075,374 (49,381)

See accompanying notes to financial statements. BHFTI-297 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Deliver Counterparty Date for (Depreciation) MXN 93,801,550 GSBU ...... 10/27/21 USD 4,621,449 $ (14,020) NZD 17,971,500 JPMC ...... 07/02/21 USD 13,115,353 553,273 NZD 17,971,500 BNP ...... 08/03/21 USD 12,572,978 11,837 PEN 7,267,017 CBNA ...... 08/18/21 USD 1,879,239 (13,888) TWD 3,394,384 GSBU ...... 09/15/21 USD 123,896 2,052 Net Unrealized Appreciation ...... $6,631,108

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Call Options on Euro-Schartz Futures, Strike EUR 114.30 ...... 08/27/21 2,968 EUR 14,840 $ (1,795) Euro-Bobl Futures ...... 09/08/21 218 EUR 29,244,700 18,146 Euro-Bund Futures ...... 09/08/21 340 EUR 58,687,400 626,483 U.S. Treasury Note 5 Year Futures ...... 09/30/21 2,734 USD 337,456,767 (821,436) U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 196 USD 28,851,813 446,118

Futures Contracts—Short Australian 10 Year Treasury Bond Futures ...... 09/15/21 (57) AUD (8,047,772) (25,226) Australian 3 Year Treasury Bond Futures ...... 09/15/21 (117) AUD (13,628,981) 24,442 Euro Short-BTP Futures ...... 09/08/21 (58) EUR (6,563,280) (1,441) Euro-BTP Futures ...... 09/08/21 (195) EUR (29,524,950) (244,166) Euro-Buxl 30 Year Bond Futures ...... 09/08/21 (270) EUR (54,874,800) (1,137,845) Euro-OAT Futures ...... 09/08/21 (4) EUR (636,160) (2,898) Euro-Schatz Futures ...... 09/08/21 (2,962) EUR (332,158,680) 43,021 Japanese Government 10 Year Bond Futures ...... 09/13/21 (30) JPY (4,550,700,000) (53,654) U.S. Treasury Long Bond Futures ...... 09/21/21 (742) USD (119,276,500) (3,563,062) U.S. Treasury Note 10 Year Futures ...... 09/21/21 (330) USD (43,725,000) (196,116) U.S. Treasury Note 2 Year Futures ...... 09/30/21 (522) USD (115,007,203) 162,462 U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 (246) USD (47,401,125) (2,310,455) United Kingdom Long Gilt Bond Futures ...... 09/28/21 (64) GBP (8,198,400) (81,104) Net Unrealized Depreciation ...... $(7,118,526)

Purchased Options Pay/ Receive Unrealized Strike Floating Rate Floating Expiration Number of Notional Premiums Market Appreciation/ Interest Rate Swaptions Rate Counterparty Index Rate Date Contracts Amount Paid Value (Depreciation) Call - OTC-5 Yr. IRS ...... 0.700% MSCS 3M LIBOR Pay 08/24/21 100,000,000 USD 100,000,000 $ 360,000 $ 42,670 $ (317,330) Put - OTC-30 Yr. IRS ...... 0.195% BNP 6M EURIBOR Receive 11/02/22 7,000,000 EUR 7,000,000 5,267 1,043,895 1,038,628 Put - OTC-30 Yr. IRS ...... 0.190% MSCS 6M EURIBOR Receive 11/02/22 6,700,000 EUR 6,700,000 488,662 1,007,400 518,738 Put - OTC-30 Yr. IRS ...... 0.197% BNP 6M EURIBOR Receive 11/04/22 8,040,000 EUR 8,040,000 611,704 1,197,286 585,582 Put - OTC-30 Yr. IRS ...... 0.197% BBP 6M EURIBOR Receive 11/04/22 4,160,000 EUR 4,160,000 310,521 619,492 308,971 Totals ...... $1,776,154 $3,910,743 $2,134,589

Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ Options on Exchange-Traded Future Contracts Price Date Contracts Amount Paid Value (Depreciation) Call - U.S. Treasury Note 2 Year Futures ...... USD 110.875 08/27/21 520 USD 1,040,000 $4,300 $520 $(3,780)

See accompanying notes to financial statements. BHFTI-298 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Purchased Options—(Continued) Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ OTC Options on Securities Counterparty Price Date Contracts Amount Paid Value (Depreciation) Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ..... JPMC USD 99.664 07/07/21 1,100,000 USD 1,100,000 $ 6,188 $ 148 $ (6,040) Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ..... JPMC USD 100.473 08/05/21 700,000 USD 700,000 6,562 2,801 (3,761) Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ..... JPMC USD 100.156 08/05/21 700,000 USD 700,000 6,563 2,208 (4,355) Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ..... JPMC USD 103.234 08/05/21 1,250,000 USD 1,250,000 7,129 4,643 (2,486) Total ...... $26,442 $9,800 $(16,642)

Written Options Unrealized Initial Expiration Number of Notional Premiums Market Appreciation/ Inflation Capped Options Index Counterparty Exercise Index Date Contracts Amount Received Value (Depreciation) Cap - CPALEMU Index ...... 100.152 GSBU Maximum of [(Final 06/22/35 (8,700,000) EUR (8,700,000) $(396,824) $(12,466) $384,358 Index/Initial Index - 1) - 3.000%] or 0 Cap - CPURNSA Index ...... 233.916 JPMC Maximum of [(Final 04/22/24 (35,000,000) USD (35,000,000) (254,625) — 254,625 Index/Initial Index - 1) - 4.000%] or 0 Cap - CPURNSA Index ...... 234.781 JPMC Maximum of [(Final 05/16/24 (2,800,000) USD (2,800,000) (19,460) — 19,460 Index/Initial Index - 1) - 4.000%] or 0 Totals ...... $(670,909) $(12,466) $658,443

Pay/ Receive Unrealized Strike Floating Rate Floating Expiration Number of Notional Premiums Market Appreciation/ Interest Rate Swaptions Rate Counterparty Index Rate Date Contracts Amount Received Value (Depreciation) Call - OTC-1 Yr. IRS ...... (0.526%) GSBU 3M EURIBOR Receive 11/17/22 (143,900,000) EUR (143,900,000) $ (223,675) $ (67,637) $ 156,038 Call - OTC-5 Yr. IRS ...... 0.550% MSCS 3M LIBOR Receive 08/24/21 (200,000,000) USD (200,000,000) (315,000) (16,580) 298,420 Put - OTC-10 Yr. IRS ...... 1.760% MSCS 3M LIBOR Pay 07/07/21 (800,000) USD (800,000) (6,120) (14) 6,106 Put - OTC-10 Yr. IRS ...... 2.300% JPMC 3M LIBOR Pay 09/29/21 (300,000) USD (300,000) (2,160) (188) 1,972 Put - OTC-10 Yr. IRS ...... 2.300% DBAG 3M LIBOR Pay 09/29/21 (20,850,000) USD (20,850,000) (142,301) (13,083) 129,218 Put - OTC-10 Yr. IRS ...... 2.300% MSCS 3M LIBOR Pay 09/29/21 (28,650,000) USD (28,650,000) (202,823) (17,978) 184,845 Put - OTC-10 Yr. IRS ...... 0.000% BBP 6M EURIBOR Pay 11/04/22 (12,490,000) EUR (12,490,000) (305,983) (572,030) (266,047) Put - OTC-10 Yr. IRS ...... 0.000% MSCS 6M EURIBOR Pay 11/02/22 (20,200,000) EUR (20,200,000) (490,004) (921,193) (431,189) Put - OTC-10 Yr. IRS ...... 0.000% BNP 6M EURIBOR Pay 11/02/22 (21,000,000) EUR (21,000,000) — (957,675) (957,675) Put - OTC-10 Yr. IRS ...... 0.000% BNP 6M EURIBOR Pay 11/04/22 (24,210,000) EUR (24,210,000) (600,297) (1,108,794) (508,497) Totals ...... $(2,288,363) $(3,675,172) $(1,386,809)

Strike Unrealized Spread/ Reference Buy/Sell Expiration Number of Notional Premiums Market Appreciation/ Credit Default Swaptions Price Counterparty Obligation Protection Date Contracts Amount Received Value (Depreciation) Call - OTC-5 Yr. CDS ...... 0.475% CSI CDX.NA.IG.36 Buy 08/18/21 (2,000,000) USD (2,000,000) $(1,620) $(1,434) $186 Call - OTC-5 Yr. CDS ...... 0.475% BBP CDX.NA.IG.36 Buy 08/18/21 (3,800,000) USD (3,800,000) (2,850) (2,724) 126 Call - OTC-5 Yr. CDS ...... 0.475% DBAG CDX.NA.IG.36 Buy 08/18/21 (4,200,000) USD (4,200,000) (3,360) (3,010) 350 Call - OTC-5 Yr. CDS ...... 0.400% BBP ITRX.EUR.34 Buy 07/21/21 (4,300,000) EUR (4,300,000) (2,387) (2,536) (149) Put - OTC-5 Yr. CDS ...... $100.000 BNP CDX.NA.HY.35 Sell 07/21/21 (800,000) USD (800,000) (4,972) (166) 4,806 Put - OTC-5 Yr. CDS ...... $ 98.000 MSCS CDX.NA.HY.36 Sell 07/21/21 (800,000) USD (800,000) (1,920) (184) 1,736 Put - OTC-5 Yr. CDS ...... $104.000 CSI CDX.NA.HY.36 Sell 09/15/21 (900,000) USD (900,000) (5,265) (2,035) 3,230 Put - OTC-5 Yr. CDS ...... 0.800% CBNA CDX.NA.IG.36 Sell 08/18/21 (3,400,000) USD (3,400,000) (3,672) (438) 3,234 Put - OTC-5 Yr. CDS ...... 0.800% GSI CDX.NA.IG.36 Sell 08/18/21 (3,700,000) USD (3,700,000) (3,718) (477) 3,241 Put - OTC-5 Yr. CDS ...... 0.800% CSI CDX.NA.IG.36 Sell 08/18/21 (3,800,000) USD (3,800,000) (3,572) (490) 3,082 Put - OTC-5 Yr. CDS ...... 0.800% CSI CDX.NA.IG.36 Sell 08/18/21 (2,000,000) USD (2,000,000) (1,940) (258) 1,682 Put - OTC-5 Yr. CDS ...... 0.800% BBP CDX.NA.IG.36 Sell 09/15/21 (3,800,000) USD (3,800,000) (4,712) (1,320) 3,392 Put - OTC-5 Yr. CDS ...... 0.800% DBAG CDX.NA.IG.36 Sell 09/15/21 (4,200,000) USD (4,200,000) (5,040) (1,459) 3,581

See accompanying notes to financial statements. BHFTI-299 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Written Options—(Continued) Strike Unrealized Spread/ Reference Buy/Sell Expiration Number of Notional Premiums Market Appreciation/ Credit Default Swaptions Price Counterparty Obligation Protection Date Contracts Amount Received Value (Depreciation) Put - OTC-5 Yr. CDS ...... 0.850% CSI CDX.NA.IG.36 Sell 09/15/21 (4,200,000) USD (4,200,000) $ (4,116) $ (1,202) $ 2,914 Put - OTC-5 Yr. CDS ...... 0.900% GSI CDX.NA.IG.36 Sell 07/21/21 (1,800,000) USD (1,800,000) (2,322) (10) 2,312 Put - OTC-5 Yr. CDS ...... 0.900% CSI CDX.NA.IG.36 Sell 09/15/21 (7,700,000) USD (7,700,000) (8,123) (1,873) 6,250 Put - OTC-5 Yr. CDS ...... 0.900% DBAG CDX.NA.IG.36 Sell 09/15/21 (12,100,000) USD (12,100,000) (12,380) (2,943) 9,437 Put - OTC-5 Yr. CDS ...... 0.750% BBP ITRX.EUR.34 Sell 07/21/21 (4,300,000) EUR (4,300,000) (5,654) (13) 5,641 Put - OTC-5 Yr. CDS ...... 0.750% GSI ITRX.EUR.34 Sell 07/21/21 (3,100,000) EUR (3,100,000) (4,097) (9) 4,088 Put - OTC-5 Yr. CDS ...... 0.700% BBP ITRX.EUR.35 Sell 08/18/21 (11,900,000) EUR (11,900,000) (16,619) (2,936) 13,683 Put - OTC-5 Yr. CDS ...... 0.750% BBP ITRX.EUR.35 Sell 07/21/21 (2,200,000) EUR (2,200,000) (2,317) (91) 2,226 Put - OTC-5 Yr. CDS ...... 0.750% GSI ITRX.EUR.35 Sell 07/21/21 (3,200,000) EUR (3,200,000) (3,273) (132) 3,141 Put - OTC-5 Yr. CDS ...... 0.750% BBP ITRX.EUR.35 Sell 08/18/21 (3,200,000) EUR (3,200,000) (3,614) (671) 2,943 Put - OTC-5 Yr. CDS ...... 0.800% BBP ITRX.EUR.35 Sell 08/18/21 (3,000,000) EUR (3,000,000) (3,264) (491) 2,773 Put - OTC-5 Yr. CDS ...... 0.800% DBAG ITRX.EUR.35 Sell 08/18/21 (3,300,000) EUR (3,300,000) (3,710) (540) 3,170 Put - OTC-5 Yr. CDS ...... 0.825% BNP ITRX.EUR.35 Sell 08/18/21 (3,000,000) EUR (3,000,000) (3,496) (446) 3,050 Put - OTC-5 Yr. CDS ...... 0.850% BBP ITRX.EUR.35 Sell 08/18/21 (3,100,000) EUR (3,100,000) (3,395) (419) 2,976 Put - OTC-5 Yr. CDS ...... 0.850% DBAG ITRX.EUR.35 Sell 08/18/21 (3,300,000) EUR (3,300,000) (3,568) (446) 3,122 Put - OTC-5 Yr. CDS ...... 0.850% BBP ITRX.EUR.35 Sell 10/20/21 (6,300,000) EUR (6,300,000) (6,538) (3,748) 2,790 Totals ...... $(131,514) $(32,501) $99,013

Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ OTC Options on Securities Counterparty Price Date Contracts Amount Received Value (Depreciation) Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... GSC USD101.227 07/07/21 (700,000) USD (700,000) $ (3,582) $ (1,112) $ 2,470 Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... JPMC USD 101.313 09/07/21 (600,000) USD (600,000) (1,875) (2,433) (558) Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... GSC USD101.023 09/07/21 (1,300,000) USD (1,300,000) (5,688) (7,091) (1,403) Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 104.047 07/07/21 (500,000) USD (500,000) (859) (35) 824 Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 103.984 08/05/21 (800,000) USD (800,000) (1,625) (608) 1,017 Put - Ginnie Mae II 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 102.234 08/12/21 (2,300,000) USD (2,300,000) (7,367) (3,753) 3,614 Put - Ginnie Mae II 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 102.297 08/12/21 (2,200,000) USD (2,200,000) (7,391) (3,769) 3,622 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... JPMC USD 99.156 08/05/21 (1,400,000) USD (1,400,000) (8,750) (2,200) 6,550 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... JPMC USD 99.473 08/05/21 (1,400,000) USD (1,400,000) (8,695) (2,714) 5,981 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... GSC USD99.023 09/07/21 (1,300,000) USD (1,300,000) (8,125) (4,703) 3,422 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 102.047 07/07/21 (500,000) USD (500,000) (1,719) (16) 1,703 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 101.984 08/05/21 (800,000) USD (800,000) (2,750) (893) 1,857 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 102.234 08/05/21 (2,500,000) USD (2,500,000) (7,813) (3,458) 4,355 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 3.000%, TBA ...... JPMC USD 104.141 08/05/21 (800,000) USD (800,000) (1,375) (1,301) 74 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 3.000%, TBA ...... JPMC USD 103.695 09/07/21 (800,000) USD (800,000) (2,438) (1,270) 1,168 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 3.000%, TBA ...... JPMC USD 103.984 09/07/21 (800,000) USD (800,000) (2,438) (1,882) 556 Total ...... $(72,490) $(37,238) $35,252

See accompanying notes to financial statements. BHFTI-300 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Swap Agreements

Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay...... 12MCPURNSA Maturity 1.280% Maturity 11/02/21 USD 2,000,000 $ (71,402) $ — $ (71,402) Pay...... 12MCPURNSA Maturity 1.290% Maturity 11/05/21 USD 2,800,000 (99,682) (49) (99,633) Pay...... 12MCPURNSA Maturity 1.760% Maturity 11/04/29 USD 24,500,000 (1,997,870) (14,276) (1,983,594) Pay...... 12MCPURNSA Maturity 1.840% Maturity 08/14/21 USD 20,100,000 (624,388) (41) (624,347) Pay...... 12MCPURNSA Maturity 1.954% Maturity 06/03/29 USD 8,650,000 (512,095) — (512,095) Pay...... 12MCPURNSA Maturity 1.998% Maturity 07/25/29 USD 21,500,000 (1,134,883) 2,904 (1,137,787) Pay...... 12MCPURNSA Maturity 2.155% Maturity 02/04/22 USD 24,300,000 (668,178) (217) (667,961) Pay...... 12MCPURNSA Maturity 2.165% Maturity 01/19/22 USD 10,500,000 (289,657) — (289,657) Pay...... 12MCPURNSA Maturity 2.170% Maturity 02/01/22 USD 18,200,000 (500,699) — (500,699) Pay...... 12MCPURNSA Maturity 2.180% Maturity 01/19/22 USD 4,200,000 (115,233) (115) (115,118) Pay...... 12MCPURNSA Maturity 2.200% Maturity 01/21/22 USD 3,300,000 (89,867) — (89,867) Pay...... 12MCPURNSA Maturity 2.200% Maturity 02/05/22 USD 5,000,000 (134,964) — (134,964) Pay...... 12MCPURNSA Maturity 2.335% Maturity 02/05/28 USD 13,090,000 (116,275) 28,402 (144,677) Pay...... 12MCPURNSA Maturity 2.370% Maturity 06/06/28 USD 6,400,000 (47,921) (1,137) (46,784) Pay...... 12MHICP Maturity 1.380% Maturity 03/15/31 EUR 23,400,000 (804,415) (162,969) (641,446) Pay...... 12MFRCPXT Maturity 1.410% Maturity 11/15/39 EUR 600,000 (28,429) — (28,429) Pay...... 12MFRCPXT Maturity 1.910% Maturity 01/15/38 EUR 350,000 43,920 2,831 41,089 Pay...... 12MUKRPI Maturity 3.220% Maturity 03/15/22 GBP 9,100,000 (145,653) (87) (145,566) Pay...... 12MUKRPI Maturity 3.325% Maturity 08/15/30 GBP 12,100,000 143,804 113,664 30,140 Pay...... 12MUKRPI Maturity 3.330% Maturity 01/15/25 GBP 18,900,000 113,810 421,255 (307,445) Pay...... 12MUKRPI Maturity 3.400% Maturity 06/15/30 GBP 15,300,000 624,150 64,254 559,896 Pay...... 12MUKRPI Maturity 3.438% Maturity 01/15/30 GBP 8,000,000 (86,801) — (86,801) Pay...... 12MUKRPI Maturity 3.465% Maturity 02/15/22 GBP 11,300,000 (187,751) — (187,751) Pay...... 12MUKRPI Maturity 3.475% Maturity 08/15/30 GBP 6,000,000 (229,854) 58,423 (288,277) Pay...... 12MUKRPI Maturity 3.566% Maturity 03/15/36 GBP 1,700,000 (38,157) — (38,157) Pay...... 12MUKRPI Maturity 3.580% Maturity 03/15/36 GBP 5,600,000 (102,127) (31,876) (70,251) Pay...... 12MUKRPI Maturity 3.750% Maturity 04/15/31 GBP 3,570,000 (14,306) (1,349) (12,957) Pay...... 12MUKRPI Maturity 3.850% Maturity 09/15/24 GBP 13,900,000 790,888 (1,172) 792,060 Pay...... 3MEURIBOR Annually (0.526)% Annually 11/21/23 EUR 72,000,000 (101,876) — (101,876) Receive ...... 12MCPURNSA Maturity 1.798% Maturity 08/25/27 USD 9,300,000 712,446 — 712,446 Receive ...... 12MCPURNSA Maturity 1.890% Maturity 08/27/27 USD 12,300,000 854,758 — 854,758 Receive ...... 12MCPURNSA Maturity 2.069% Maturity 07/15/22 USD 4,500,000 105,447 — 105,447 Receive ...... 12MCPURNSA Maturity 2.210% Maturity 02/05/23 USD 25,780,000 404,923 — 404,923 Receive ...... 12MCPURNSA Maturity 2.263% Maturity 04/27/23 USD 13,492,000 132,609 (2,800) 135,409 Receive ...... 12MCPURNSA Maturity 2.311% Maturity 02/24/31 USD 21,200,000 642,960 9,440 633,520 Receive ...... 12MCPURNSA Maturity 2.314% Maturity 02/26/26 USD 10,200,000 278,229 — 278,229 Receive ...... 12MCPURNSA Maturity 2.419% Maturity 03/05/26 USD 13,000,000 278,627 — 278,627 Receive ...... 12MCPURNSA Maturity 2.560% Maturity 05/08/23 USD 12,300,000 (946,146) (1,233,552) 287,406 Receive ...... 12MCPURNSA Maturity 2.703% Maturity 05/25/26 USD 7,090,000 12,186 — 12,186 Receive ...... 12MCPURNSA Maturity 2.768% Maturity 05/13/26 USD 11,300,000 (7,499) — (7,499) Receive ...... 12MCPURNSA Maturity 2.813% Maturity 05/14/26 USD 4,600,000 (14,750) — (14,750) Receive ...... 12MFRCPXT Maturity 1.030% Maturity 03/15/24 EUR 10,500,000 (39,930) (2,444) (37,486) Receive ...... 12MHICP Maturity 0.090% Maturity 05/15/22 EUR 1,900,000 59,908 — 59,908 Receive ...... 12MHICP Maturity 0.330% Maturity 07/15/22 EUR 6,400,000 204,683 216 204,467 Receive ...... 3MNZDBB Semi-Annually 3.250% Semi-Annually 03/21/28 NZD 8,400,000 (628,669) 25,634 (654,303) Receive ...... 6MLIBOR Semi-Annually 0.300% Semi-Annually 09/20/27 JPY 788,000,000 (128,490) (14,261) (114,229) Receive ...... 6MLIBOR Semi-Annually 0.300% Semi-Annually 03/20/28 JPY 426,780,000 (73,072) (6,734) (66,338) Totals ...... $(4,577,691) $ (746,056) $(3,831,635)

See accompanying notes to financial statements. BHFTI-301 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Centrally Cleared Credit Default Swaps on Corporate Issues—Sell Protection (a) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premiums Appreciation/ Reference Obligation Receive Rate Frequency Date 2021(b) Amount(c) Value Paid/(Received) (Depreciation) General Electric Co. 2.700%, due 10/09/22 ...... 1.000% Quarterly 12/20/23 0.360% USD 1,000,000 $15,852 $(27,072) $42,924

(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. (b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation. (c) The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation.

Glossary of Abbreviations

Counterparties (BBP)— Barclays Bank plc (DBAG)— Deutsche Bank AG (JPMC)— JPMorgan Chase Bank N.A. (BNP)— BNP Paribas S.A. (GSBU)— Goldman Sachs Bank USA (MSCS)— Morgan Stanley Capital Services LLC (CBNA)— Citibank N.A. (GSC)— Goldman Sachs & Co. (SG)— Societe Generale Paris (CSI)— Credit Suisse International (GSI)— Goldman Sachs International (UBSA)— UBS AG

Currencies (AUD)—Australian Dollar (IDR)— Indonesian Rupiah (PEN)— Peruvian Nuevo Sol (BRL)— Brazilian Real (JPY)— Japanese Yen (RUB)— Russian Ruble (CAD)— Canadian Dollar (KRW)— South Korean Won (SEK)— Swedish Krona (CNH)— Chinese Renminbi (MXN)—Mexican Peso (TWD)—Taiwanese Dollar (DKK)— Danish Krone (MYR)— Malaysian Ringgit (USD)— United States Dollar (EUR)— Euro (NOK)— Norwegian Krone (GBP)— British Pound (NZD)— New Zealand Dollar

Index Abbreviations (CDX.NA.HY)— Markit North America High Yield CDS Index (EURIBOR)— Euro InterBank Offered Rate (MTA)— Monthly Treasury Average Index (CDX.NA.IG)— Markit North America Investment Grade CDS (FRCPXT)— France Consumer Price Ex-Tobacco Index (NZDBB)— New Zealand Dollar Bank Bill Index Index (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (SONIA)— Sterling Overnight Index Average Deposit Rate (COFI)— 11th District Cost of Fund Index Maturity Index (UKRPI)— United Kingdom Retail Price Index (CPALEMU)— Euro Area All Items Index Non-Seasonally (HICP)— Harmonized Index of Consumer Prices Adjusted (ITRX.EUR)— Markit iTraxx Europe CDS Index (CPI)— Consumer Price Index (LIBOR)— London Interbank Offered Rate (CPURNSA)— U.S. Consumer Price Index for All Urban Consumers Non-Seasonally Adjusted

Other Abbreviations (ARM)— Adjustable-Rate Mortgage (CLO)— Collateralized Loan Obligation (IRS)— Interest Rate Swap (CDS)— Credit Default Swap (CMO)— Collateralized Mortgage Obligation (REMIC)— Real Estate Mortgage Investment Conduit

See accompanying notes to financial statements. BHFTI-302 Brighthouse Funds Trust I PIMCO Inflation Protected Bond Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $ — $2,585,513,495 $ — $ 2,585,513,495 Total Foreign Government* ...... — 245,848,452 — 245,848,452 Total Asset-Backed Securities* ...... — 155,498,512 — 155,498,512 Total Corporate Bonds & Notes* ...... — 140,444,995 — 140,444,995 Total Mortgage-Backed Securities* ...... — 76,543,879 — 76,543,879 Total Preferred Stock* ...... — — 11,750,668 11,750,668 Total Convertible Preferred Stock* ...... 1,373,589 — — 1,373,589 Total Short-Term Investments* ...... — 788,791,416 — 788,791,416 Purchased Options Interest Rate Swaptions at Value ...... — 3,910,743 — 3,910,743 OTC Options on Securities at Value ...... — 9,800 — 9,800 Options on Exchange-Traded Futures Contracts at Value ...... 520 — — 520 Total Purchased Options ...... 520 3,920,543 — 3,921,063 Total Investments ...... $1,374,109 $ 3,996,561,292 $11,750,668 $ 4,009,686,069 Secured Borrowings (Liability) ...... $ — $(2,031,641,464) $ — $(2,031,641,464) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 8,957,016 $ — $ 8,957,016 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (2,325,908) — (2,325,908) Total Forward Contracts ...... $ — $ 6,631,108 $ — $ 6,631,108 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $1,320,672 $ — $ — $ 1,320,672 Futures Contracts (Unrealized Depreciation) ...... (8,439,198) — — (8,439,198) Total Futures Contracts ...... $(7,118,526) $ — $ — $ (7,118,526) Written Options Credit Default Swaptions at Value ...... $ — $ (32,501) $ — $ (32,501) Inflation Capped Options at Value ...... — (12,466) — (12,466) Interest Rate Swaptions at Value ...... — (3,675,172) — (3,675,172) OTC Options on Securities at Value ...... — (37,238) — (37,238) Total Written Options ...... $ — $ (3,757,377) $ — $ (3,757,377) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 5,433,435 $ — $ 5,433,435 Centrally Cleared Swap Contracts (Unrealized Depreciation) ...... — (9,222,146) — (9,222,146) Total Centrally Cleared Swap Contracts ...... $ — $ (3,788,711) $ — $ (3,788,711)

* 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 June 30, 2021 is not presented.

See accompanying notes to financial statements. BHFTI-303 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—38.2% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—16.5% Agency Sponsored Mortgage - Backed—(Continued) Fannie Mae 10 Yr. Pool Fannie Mae 15 Yr. Pool 3.000%, 08/01/21 ...... 343 $ 342 4.500%, 08/01/25 ...... 11,718 $ 12,367 3.000%, 11/01/21 ...... 1,094 1,148 4.500%, 09/01/25 ...... 36,188 38,117 3.000%, 03/01/22 ...... 10,550 11,067 4.500%, 11/01/25 ...... 37,597 39,927 3.000%, 05/01/22 ...... 36,609 38,404 4.500%, 04/01/26 ...... 2,016 2,126 3.500%, 02/01/24 ...... 149,428 159,402 4.500%, 01/01/27 ...... 6,807 7,131 3.500%, 10/01/24 ...... 226,590 241,714 5.500%, 03/01/22 ...... 5,453 5,491 3.500%, 11/01/24 ...... 96,541 102,985 5.500%, 04/01/22 ...... 4,316 4,340 3.500%, 02/01/25 ...... 387,910 413,858 5.500%, 07/01/22 ...... 10,448 10,591 3.500%, 03/01/29 ...... 339,149 361,786 5.500%, 10/01/22 ...... 19,003 19,272 Fannie Mae 15 Yr. Pool 5.500%, 11/01/22 ...... 5,361 5,422 3.000%, 09/01/28 ...... 245,342 258,980 5.500%, 12/01/22 ...... 6,659 6,737 3.000%, 06/01/30 ...... 7,870,642 8,350,272 5.500%, 02/01/23 ...... 15,094 15,437 3.500%, 04/01/25 ...... 40,957 43,719 5.500%, 03/01/23 ...... 1,327 1,359 3.500%, 10/01/26 ...... 76,474 81,734 5.500%, 07/01/23 ...... 1,580 1,622 3.500%, 12/01/26 ...... 229,208 244,971 5.500%, 08/01/23 ...... 5,857 6,039 3.500%, 04/01/27 ...... 168,680 180,143 5.500%, 10/01/23 ...... 6,725 6,851 3.500%, 12/01/28 ...... 335,902 359,523 5.500%, 12/01/23 ...... 1,372 1,394 3.500%, 07/01/29 ...... 33,502 35,778 5.500%, 01/01/24 ...... 1,260 1,304 3.500%, 12/01/31 ...... 126,664 135,923 5.500%, 03/01/24 ...... 5,572 5,735 3.500%, 05/01/32 ...... 306,576 330,347 5.500%, 09/01/24 ...... 4,174 4,209 3.500%, 06/01/32 ...... 557,308 601,139 5.500%, 01/01/25 ...... 95,619 99,049 3.500%, 05/01/33 ...... 299,968 322,888 5.500%, 05/01/25 ...... 3,511 3,600 3.500%, 06/01/33 ...... 388,923 416,595 Fannie Mae 20 Yr. Pool 3.500%, 08/01/33 ...... 267,834 286,378 3.500%, 04/01/40 ...... 597,212 631,440 3.500%, 09/01/33 ...... 815,639 873,946 3.500%, 05/01/40 ...... 7,336,923 7,757,936 3.500%, 10/01/33 ...... 566,986 607,248 4.000%, 04/01/29 ...... 20,796 22,249 3.500%, 05/01/34 ...... 10,795,961 11,553,064 4.000%, 05/01/29 ...... 65,813 70,066 3.500%, 07/01/34 ...... 516,527 553,027 4.000%, 03/01/30 ...... 37,217 39,860 3.500%, 09/01/34 ...... 1,171,674 1,262,087 4.000%, 05/01/30 ...... 58,405 62,567 3.500%, 02/01/35 ...... 69,247 74,006 4.000%, 08/01/30 ...... 50,881 54,557 3.500%, 03/01/35 ...... 154,171 164,520 4.000%, 09/01/30 ...... 41,287 44,262 3.500%, 05/01/35 ...... 6,467,718 6,899,417 4.000%, 10/01/30 ...... 1,506 1,615 4.000%, 05/01/24 ...... 253,862 269,584 4.000%, 11/01/30 ...... 179,792 193,201 4.000%, 06/01/24 ...... 249,865 265,285 4.000%, 12/01/30 ...... 24,216 26,025 4.000%, 02/01/25 ...... 104,515 111,038 4.000%, 06/01/31 ...... 4,102 4,408 4.000%, 06/01/25 ...... 44,211 46,992 4.000%, 09/01/31 ...... 85,541 91,835 4.000%, 08/01/25 ...... 21,099 22,419 4.000%, 11/01/31 ...... 3,544 3,774 4.000%, 12/01/25 ...... 24,389 25,922 4.500%, 01/01/25 ...... 2,082 2,236 4.000%, 02/01/26 ...... 38,504 40,987 4.500%, 04/01/31 ...... 16,331 17,812 4.000%, 03/01/26 ...... 7,700 8,199 5.500%, 06/01/27 ...... 4,178 4,649 4.000%, 06/01/26 ...... 9,393 9,983 5.500%, 12/01/27 ...... 35,198 39,181 4.000%, 11/01/33 ...... 82,489 87,853 5.500%, 03/01/28 ...... 17,248 19,237 4.500%, 05/01/23 ...... 3,718 3,895 5.500%, 04/01/28 ...... 37,088 41,262 4.500%, 06/01/23 ...... 248 260 5.500%, 05/01/28 ...... 21,542 24,027 4.500%, 04/01/24 ...... 6,646 6,963 5.500%, 10/01/28 ...... 7,992 8,914 4.500%, 05/01/24 ...... 31,849 33,402 5.500%, 12/01/28 ...... 3,166 3,530 4.500%, 08/01/24 ...... 5,023 5,265 5.500%, 01/01/29 ...... 36,771 40,983 4.500%, 10/01/24 ...... 56,362 59,298 5.500%, 07/01/29 ...... 38,407 42,747 4.500%, 11/01/24 ...... 13,004 13,686 5.500%, 10/01/29 ...... 105,622 117,779 4.500%, 02/01/25 ...... 86,404 91,053 5.500%, 04/01/30 ...... 57,244 63,747 4.500%, 03/01/25 ...... 66,916 70,581 6.000%, 06/01/26 ...... 3,080 3,450 4.500%, 04/01/25 ...... 45,919 48,188 6.000%, 07/01/26 ...... 25,704 28,789 4.500%, 05/01/25 ...... 134,372 141,636 6.000%, 08/01/26 ...... 4,801 5,378 4.500%, 06/01/25 ...... 10,306 10,840 6.000%, 12/01/26 ...... 4,374 4,899 4.500%, 07/01/25 ...... 675,402 717,252 6.000%, 10/01/28 ...... 16,096 18,039

See accompanying notes to financial statements. BHFTI-304 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—(Continued) Agency Sponsored Mortgage - Backed—(Continued) Fannie Mae 30 Yr. Pool Fannie Mae 30 Yr. Pool 3.000%, 08/01/49 ...... 3,754,296 $ 3,990,719 5.500%, 09/01/35 ...... 1,154,475 $ 1,335,731 4.000%, 05/01/34 ...... 68,604 73,812 5.500%, 10/01/35 ...... 104,420 120,175 4.000%, 05/01/35 ...... 35,357 38,368 5.500%, 12/01/35 ...... 517,641 597,218 4.000%, 01/01/41 ...... 33,794 37,331 5.500%, 01/01/36 ...... 111,861 129,480 4.000%, 12/01/43 ...... 284,890 313,161 5.500%, 03/01/36 ...... 123,572 143,163 4.500%, 04/01/39 ...... 20,567 22,904 5.500%, 05/01/36 ...... 1,012 1,173 4.500%, 05/01/39 ...... 33,579 37,328 5.500%, 07/01/36 ...... 521,392 604,030 4.500%, 12/01/39 ...... 5,548 6,159 5.500%, 09/01/36 ...... 63,104 73,077 4.500%, 05/01/40 ...... 13,103 14,461 5.500%, 11/01/36 ...... 38,651 44,721 4.500%, 09/01/40 ...... 16,642 18,565 5.500%, 12/01/36 ...... 1,311 1,460 4.500%, 12/01/40 ...... 34,645 38,251 5.500%, 02/01/37 ...... 885 1,026 4.500%, 02/01/41 ...... 90,230 97,952 5.500%, 05/01/37 ...... 11,837 13,706 4.500%, 07/01/41 ...... 6,434 6,973 5.500%, 08/01/37 ...... 442,555 512,732 4.500%, 09/01/41 ...... 163,862 176,329 5.500%, 01/01/38 ...... 3,559 4,139 4.500%, 03/01/42 ...... 28,616 31,761 5.500%, 02/01/38 ...... 99,152 113,691 4.500%, 07/01/42 ...... 99,176 106,687 5.500%, 03/01/38 ...... 554,479 645,000 5.000%, 03/01/32 ...... 996 1,090 5.500%, 05/01/38 ...... 968,993 1,127,513 5.000%, 04/01/33 ...... 47,292 51,757 5.500%, 06/01/38 ...... 37,572 43,681 5.000%, 07/01/33 ...... 57,394 65,122 5.500%, 09/01/38 ...... 20,061 22,377 5.000%, 08/01/33 ...... 1,087 1,227 5.500%, 10/01/38 ...... 379,474 439,656 5.000%, 09/01/33 ...... 1,029 1,174 5.500%, 11/01/38 ...... 87,104 101,356 5.000%, 10/01/33 ...... 10,668 12,175 5.500%, 01/01/39 ...... 25,877 30,111 5.000%, 11/01/33 ...... 210 233 5.500%, 07/01/39 ...... 6,010 6,700 5.000%, 01/01/34 ...... 47,254 51,780 5.500%, 11/01/39 ...... 1,110,074 1,305,774 5.000%, 04/01/34 ...... 67,043 76,058 5.500%, 02/01/40 ...... 170,256 195,867 5.000%, 06/01/34 ...... 1,585 1,745 5.500%, 06/01/40 ...... 54,357 60,563 5.000%, 12/01/34 ...... 14,238 15,614 5.500%, 09/01/40 ...... 159,177 184,947 5.000%, 01/01/35 ...... 24,591 27,001 5.500%, 07/01/41 ...... 1,856,613 2,157,217 5.000%, 04/01/35 ...... 24 28 5.500%, 02/01/49 ...... 224,522 250,307 5.000%, 07/01/35 ...... 23,273 25,510 6.000%, 12/01/28 ...... 9,882 11,072 5.000%, 01/01/38 ...... 78,092 89,336 6.000%, 01/01/29 ...... 7,776 8,771 5.000%, 04/01/39 ...... 12,366 14,159 6.000%, 02/01/29 ...... 56 63 5.000%, 10/01/39 ...... 2,985 3,351 6.000%, 04/01/29 ...... 1,316 1,501 5.000%, 11/01/39 ...... 10,871 12,169 6.000%, 06/01/29 ...... 1,917 2,186 5.000%, 06/01/40 ...... 10,781 11,821 6.000%, 11/01/32 ...... 37,768 42,480 5.000%, 11/01/42 ...... 40,198 44,033 6.000%, 12/01/32 ...... 88,943 101,161 5.500%, 12/01/28 ...... 7,087 7,889 6.000%, 03/01/33 ...... 8,400 9,945 5.500%, 06/01/33 ...... 30,415 35,064 6.000%, 05/01/33 ...... 8,482 10,049 5.500%, 07/01/33 ...... 5,301 6,114 6.000%, 07/01/33 ...... 9,042 10,698 5.500%, 09/01/33 ...... 116,065 132,155 6.000%, 01/01/34 ...... 517 597 5.500%, 11/01/33 ...... 104,085 116,028 6.000%, 09/01/34 ...... 4,817 5,399 5.500%, 12/01/33 ...... 740 846 6.000%, 11/01/34 ...... 5,342 6,080 5.500%, 04/01/34 ...... 1,258 1,450 6.000%, 04/01/35 ...... 389,071 455,103 5.500%, 07/01/34 ...... 7,753 8,648 6.000%, 05/01/35 ...... 10,797 12,741 5.500%, 08/01/34 ...... 166,580 192,086 6.000%, 06/01/35 ...... 1,171 1,341 5.500%, 09/01/34 ...... 2,215 2,563 6.000%, 07/01/35 ...... 16,583 18,787 5.500%, 11/01/34 ...... 166,265 192,467 6.000%, 09/01/35 ...... 3,507 4,155 5.500%, 12/01/34 ...... 402,162 465,734 6.000%, 11/01/35 ...... 256,038 287,963 5.500%, 01/01/35 ...... 143,415 166,130 6.000%, 12/01/35 ...... 10,527 12,058 5.500%, 02/01/35 ...... 190,938 221,018 6.000%, 04/01/36 ...... 1,840 2,110 5.500%, 03/01/35 ...... 315,035 364,204 6.000%, 05/01/36 ...... 39,881 46,745 5.500%, 04/01/35 ...... 46,245 51,599 6.000%, 06/01/36 ...... 1,293 1,452 5.500%, 05/01/35 ...... 70,398 81,556 6.000%, 07/01/36 ...... 7,131 8,055 5.500%, 06/01/35 ...... 110,881 128,439 6.000%, 08/01/36 ...... 852,878 1,012,031 5.500%, 08/01/35 ...... 102,916 119,111 6.000%, 09/01/36 ...... 93,502 109,484

See accompanying notes to financial statements. BHFTI-305 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—(Continued) Agency Sponsored Mortgage - Backed—(Continued) Fannie Mae 30 Yr. Pool Fannie Mae ARM Pool 6.000%, 10/01/36 ...... 46,292 $ 52,250 2.322%, 1Y H15 + 2.196%, 02/01/35 (a) ...... 25,901 $ 27,645 6.000%, 11/01/36 ...... 15,695 18,200 2.349%, 1Y H15 + 2.169%, 11/01/35 (a) ...... 125,001 133,190 6.000%, 12/01/36 ...... 7,902 8,858 2.374%, 1Y H15 + 2.215%, 09/01/31 (a) ...... 21,737 21,796 6.000%, 01/01/37 ...... 70,890 81,097 2.385%, 12M LIBOR + 1.885%, 11/01/32 (a) ...... 21,249 21,458 6.000%, 02/01/37 ...... 214,989 255,125 2.407%, 1Y H15 + 2.196%, 07/01/33 (a) ...... 7,879 8,217 6.000%, 04/01/37 ...... 40,459 46,633 2.438%, 1Y H15 + 2.313%, 05/01/35 (a) ...... 122,609 130,847 6.000%, 05/01/37 ...... 20,285 22,771 2.481%, 1Y H15 + 2.305%, 04/01/34 (a) ...... 2,515 2,672 6.000%, 07/01/37 ...... 13,022 15,429 2.529%, 1Y H15 + 2.154%, 07/01/32 (a) ...... 14,765 14,716 6.000%, 08/01/37 ...... 27,673 31,821 2.581%, 1Y H15 + 2.360%, 11/01/34 (a) ...... 682,000 725,918 6.000%, 11/01/37 ...... 23,161 27,092 2.596%, 12M LIBOR + 1.750%, 08/01/35 (a) ...... 168,629 178,271 6.000%, 02/01/38 ...... 266,876 315,801 2.598%, 1Y H15 + 2.223%, 08/01/35 (a) ...... 91,309 96,076 6.000%, 03/01/38 ...... 5,031 5,970 4.051%, COFI + 1.926%, 12/01/36 (a) ...... 45,250 48,248 6.000%, 08/01/38 ...... 7,803 8,901 4.931%, COFI + 1.731%, 09/01/34 (a) ...... 6,669 7,055 6.000%, 09/01/38 ...... 353,170 417,116 Fannie Mae Pool 6.000%, 10/01/38 ...... 33,418 39,523 2.310%, 08/01/22 ...... 7,897,653 7,996,071 6.000%, 11/01/38 ...... 7,616 8,541 Fannie Mae REMICS (CMO) 6.000%, 01/01/39 ...... 38,309 45,462 0.483%, 1M LIBOR + 0.400%, 09/18/31 (a) ...... 88,506 88,798 6.000%, 04/01/39 ...... 243,955 288,272 0.992%, 1M LIBOR + 0.900%, 04/25/32 (a) ...... 29,614 29,975 6.000%, 07/01/39 ...... 44,802 53,164 2.096%, 05/25/35 (a) ...... 337,052 345,152 6.000%, 08/01/39 ...... 207,296 240,654 Fannie Mae-Aces 6.000%, 05/01/49 ...... 1,967,710 2,226,583 2.358%, 01/25/31 (a) (b) ...... 21,200,000 2,988,030 8.000%, 10/01/25 ...... 401 434 Freddie Mac 10 Yr. Pool Fannie Mae ARM Pool 3.500%, 10/01/23 ...... 9,350 9,974 1.328%, 12M MTA + 1.200%, 08/01/41 (a) ...... 72,942 73,727 Freddie Mac 15 Yr. Pool 1.328%, 12M MTA + 1.200%, 07/01/42 (a) ...... 157,551 161,475 3.500%, 12/01/26 ...... 67,118 71,725 1.328%, 12M MTA + 1.200%, 08/01/42 (a) ...... 150,028 153,903 3.500%, 05/01/32 ...... 147,907 159,410 1.328%, 12M MTA + 1.200%, 10/01/44 (a) ...... 170,249 174,644 3.500%, 07/01/33 ...... 374,545 400,954 1.377%, 12M MTA + 1.250%, 09/01/41 (a) ...... 416,085 425,514 3.500%, 08/01/33 ...... 11,895 12,733 1.623%, 6M LIBOR + 1.373%, 09/01/35 (a) ...... 566,571 571,913 3.500%, 09/01/33 ...... 519,915 556,352 1.663%, 6M LIBOR + 1.412%, 06/01/33 (a) ...... 12,127 12,507 3.500%, 11/01/33 ...... 1,080,746 1,156,360 1.665%, 12M LIBOR + 1.290%, 12/01/34 (a) ...... 450,574 468,793 3.500%, 01/01/34 ...... 114,517 122,627 1.720%, 12M LIBOR + 1.345%, 12/01/34 (a) ...... 268,501 279,900 3.500%, 02/01/34 ...... 202,889 217,318 1.756%, 12M LIBOR + 1.381%, 03/01/35 (a) ...... 14,426 15,068 3.500%, 04/01/34 ...... 1,739,057 1,862,533 1.763%, 6M LIBOR + 1.513%, 01/01/35 (a) ...... 56,577 58,703 3.500%, 05/01/34 ...... 801,191 858,084 1.788%, 6M LIBOR + 1.538%, 01/01/36 (a) ...... 5,656 5,660 3.500%, 10/01/34 ...... 167,284 179,374 1.845%, 12M LIBOR + 1.346%, 11/01/34 (a) ...... 2,754 2,779 3.500%, 11/01/34 ...... 71,724 76,699 1.855%, 6M LIBOR + 1.605%, 08/01/36 (a) ...... 15,852 15,962 3.500%, 03/01/35 ...... 262,236 280,583 1.898%, 12M LIBOR + 1.518%, 01/01/35 (a) ...... 24,540 25,760 4.000%, 11/01/33 ...... 1,288,261 1,369,032 1.898%, 12M MTA + 1.769%, 11/01/35 (a) ...... 90,179 94,750 Freddie Mac 20 Yr. Gold Pool 1.910%, 12M LIBOR + 1.660%, 05/01/34 (a) ...... 242,796 244,567 4.000%, 06/01/30 ...... 42,248 45,274 1.910%, 12M LIBOR + 1.557%, 01/01/35 (a) ...... 16,419 17,255 4.000%, 09/01/30 ...... 183,680 197,455 1.928%, 12M LIBOR + 1.611%, 05/01/35 (a) ...... 20,064 21,128 4.000%, 10/01/30 ...... 10,456 11,215 1.951%, 12M LIBOR + 1.618%, 03/01/33 (a) ...... 1,547 1,555 5.500%, 12/01/22 ...... 70 78 1.969%, 12M LIBOR + 1.594%, 01/01/35 (a) ...... 21,103 22,206 5.500%, 03/01/23 ...... 19,534 21,738 2.007%, 12M LIBOR + 1.632%, 02/01/35 (a) ...... 13,666 14,398 5.500%, 06/01/26 ...... 646 719 2.011%, 12M LIBOR + 1.632%, 01/01/35 (a) ...... 6,191 6,319 5.500%, 08/01/26 ...... 426 474 2.025%, 1Y H15 + 1.900%, 02/01/31 (a) ...... 106,623 106,580 5.500%, 06/01/27 ...... 15,008 16,711 2.085%, 12M LIBOR + 1.684%, 12/01/34 (a) ...... 17,356 18,294 5.500%, 12/01/27 ...... 21,891 24,414 2.094%, 12M LIBOR + 1.576%, 10/01/34 (a) ...... 5,326 5,350 5.500%, 01/01/28 ...... 15,652 17,461 2.139%, 12M LIBOR + 1.694%, 09/01/32 (a) ...... 54,714 54,769 5.500%, 02/01/28 ...... 3,587 4,001 2.176%, 12M LIBOR + 1.670%, 11/01/34 (a) ...... 29,863 31,477 5.500%, 05/01/28 ...... 35,828 39,973 2.185%, 12M LIBOR + 1.810%, 04/01/35 (a) ...... 35,840 37,957 5.500%, 06/01/28 ...... 60,026 66,918 2.239%, 1Y H15 + 2.095%, 10/01/35 (a) ...... 49,363 49,872 6.000%, 01/01/22 ...... 4,750 5,319 2.243%, 1Y H15 + 2.067%, 10/01/28 (a) ...... 54,324 54,336 6.000%, 10/01/22 ...... 52,237 58,498 2.310%, 12M LIBOR + 1.810%, 09/01/34 (a) ...... 302,862 320,188 6.000%, 04/01/23 ...... 3,557 3,983

See accompanying notes to financial statements. BHFTI-306 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—(Continued) Agency Sponsored Mortgage - Backed—(Continued) Freddie Mac 20 Yr. Pool Freddie Mac 30 Yr. Gold Pool 6.000%, 09/01/29 ...... 1,732,342 $ 1,939,355 5.500%, 05/01/40 ...... 1,309 $ 1,521 Freddie Mac 30 Yr. Gold Pool 5.500%, 08/01/40 ...... 42,699 49,635 4.000%, 12/01/40 ...... 158,191 173,806 Freddie Mac ARM Non-Gold Pool 4.500%, 04/01/34 ...... 9,793 10,784 1.974%, 12M LIBOR + 1.345%, 09/01/35 (a) ...... 73,863 77,121 4.500%, 06/01/35 ...... 33,595 36,997 1.996%, 12M LIBOR + 1.621%, 02/01/35 (a) ...... 8,287 8,555 4.500%, 04/01/41 ...... 88,617 98,828 2.000%, 12M LIBOR + 1.625%, 02/01/35 (a) ...... 19,484 20,323 4.500%, 10/01/41 ...... 60,245 66,130 2.052%, 12M LIBOR + 1.677%, 01/01/35 (a) ...... 8,371 8,658 5.500%, 01/01/33 ...... 685 791 2.053%, 12M LIBOR + 1.678%, 02/01/35 (a) ...... 9,799 10,147 5.500%, 05/01/33 ...... 724 827 2.233%, 1Y H15 + 2.108%, 02/01/35 (a) ...... 20,662 22,103 5.500%, 08/01/33 ...... 1,205 1,391 2.253%, 1Y H15 + 2.107%, 10/01/34 (a) ...... 20,092 21,474 5.500%, 10/01/33 ...... 2,151 2,446 2.276%, 12M LIBOR + 1.901%, 02/01/35 (a) ...... 22,297 23,667 5.500%, 01/01/34 ...... 992 1,148 2.303%, 12M LIBOR + 1.900%, 11/01/34 (a) ...... 8,133 8,535 5.500%, 09/01/34 ...... 15,570 17,745 2.326%, 1Y H15 + 2.201%, 09/01/35 (a) ...... 111,082 116,438 5.500%, 01/01/35 ...... 17,051 19,762 2.375%, 1Y H15 + 2.250%, 11/01/34 (a) ...... 30,042 32,008 5.500%, 07/01/35 ...... 978 1,129 2.375%, 1Y H15 + 2.250%, 02/01/35 (a) ...... 23,935 25,519 5.500%, 10/01/35 ...... 9,378 10,453 2.381%, 1Y H15 + 2.250%, 01/01/35 (a) ...... 59,526 63,413 5.500%, 11/01/35 ...... 37,333 42,064 2.389%, 12M LIBOR + 1.889%, 11/01/34 (a) ...... 12,891 13,669 5.500%, 12/01/35 ...... 24,938 28,904 2.400%, 12M LIBOR + 1.900%, 11/01/34 (a) ...... 3,341 3,357 5.500%, 01/01/36 ...... 17,099 19,818 2.404%, 1Y H15 + 2.250%, 11/01/31 (a) ...... 6,720 6,772 5.500%, 02/01/36 ...... 14,552 16,220 2.419%, 1Y H15 + 2.250%, 08/01/35 (a) ...... 108,254 115,124 5.500%, 04/01/36 ...... 9,182 10,468 2.423%, 1Y H15 + 2.250%, 06/01/35 (a) ...... 303,895 323,106 5.500%, 06/01/36 ...... 785,151 910,012 2.586%, 12M LIBOR + 1.961%, 08/01/32 (a) ...... 37,361 37,497 5.500%, 07/01/36 ...... 17,451 20,227 2.657%, 1Y H15 + 2.472%, 01/01/29 (a) ...... 122,213 122,500 5.500%, 08/01/36 ...... 33,070 36,999 Freddie Mac Multifamily Structured Pass-Through Certificates 5.500%, 10/01/36 ...... 8,169 9,299 1.336%, 08/25/22 (a) (b) ...... 38,518,419 445,315 5.500%, 12/01/36 ...... 119,396 138,546 Freddie Mac REMICS (CMO) 5.500%, 02/01/37 ...... 9,305 10,676 0.323%, 1M LIBOR + 0.250%, 07/15/34 (a) ...... 17,371 17,350 5.500%, 03/01/37 ...... 8,598 9,937 1.875%, PRIME - 1.375%, 11/15/23 (a) ...... 50,688 51,142 5.500%, 04/01/37 ...... 28,421 31,922 3.500%, 01/15/42 ...... 14,536,399 15,213,625 5.500%, 06/01/37 ...... 48,125 55,332 6.500%, 01/15/24 ...... 3,585 3,799 5.500%, 07/01/37 ...... 103,947 120,772 Freddie Mac Structured Pass-Through Certificates (CMO) 5.500%, 08/01/37 ...... 38,410 44,684 1.316%, 12M MTA + 1.200%, 10/25/44 (a) ...... 455,108 467,382 5.500%, 09/01/37 ...... 6,830 7,945 1.328%, 12M MTA + 1.200%, 02/25/45 (a) ...... 40,231 40,556 5.500%, 10/01/37 ...... 5,207 6,059 1.516%, 12M MTA + 1.400%, 07/25/44 (a) ...... 2,227,287 2,298,198 5.500%, 11/01/37 ...... 122,245 142,207 Ginnie Mae I 30 Yr. Pool 5.500%, 12/01/37 ...... 6,240 7,159 3.000%, 11/15/49 ...... 3,778,153 3,930,840 5.500%, 01/01/38 ...... 40,376 46,991 4.000%, TBA (c) ...... 11,000,000 11,783,750 5.500%, 02/01/38 ...... 99,855 116,201 5.000%, 10/15/33 ...... 4,805 5,421 5.500%, 03/01/38 ...... 43,186 49,859 5.000%, 12/15/33 ...... 14,287 16,338 5.500%, 04/01/38 ...... 101,657 118,314 5.000%, 05/15/34 ...... 3,742 4,328 5.500%, 05/01/38 ...... 43,262 50,340 5.000%, 07/15/34 ...... 607 685 5.500%, 06/01/38 ...... 157,276 183,090 5.000%, 11/15/35 ...... 1,546 1,744 5.500%, 07/01/38 ...... 199,701 232,130 5.000%, 03/15/36 ...... 1,131 1,298 5.500%, 08/01/38 ...... 533,767 620,935 5.000%, 10/15/38 ...... 312,095 361,073 5.500%, 09/01/38 ...... 139,677 162,438 5.000%, 02/15/39 ...... 46,145 53,333 5.500%, 10/01/38 ...... 4,226,918 4,913,196 5.000%, 03/15/39 ...... 80,115 92,762 5.500%, 11/01/38 ...... 1,623,279 1,888,580 5.000%, 04/15/39 ...... 479,864 555,208 5.500%, 12/01/38 ...... 5,414 6,036 5.000%, 05/15/39 ...... 1,444,977 1,669,909 5.500%, 01/01/39 ...... 359,438 418,307 5.000%, 06/15/39 ...... 472,522 546,537 5.500%, 02/01/39 ...... 63,349 71,889 5.000%, 09/15/39 ...... 160,774 186,069 5.500%, 03/01/39 ...... 38,231 44,492 5.000%, 05/15/40 ...... 14,904 17,199 5.500%, 06/01/39 ...... 1,276,601 1,483,956 5.000%, 09/15/40 ...... 159,200 183,809 5.500%, 09/01/39 ...... 28,982 33,596 5.000%, 12/15/40 ...... 12,072 13,931 5.500%, 02/01/40 ...... 41,885 48,712 5.000%, 07/15/41 ...... 3,723 4,194 5.500%, 03/01/40 ...... 7,078 8,227 5.000%, 09/15/47 ...... 62,576 70,565

See accompanying notes to financial statements. BHFTI-307 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage - Backed—(Continued) Agency Sponsored Mortgage - Backed—(Continued) Ginnie Mae I 30 Yr. Pool Uniform Mortgage-Backed Securities 15 Yr. Pool 5.000%, TBA (c) ...... 15,000,000 $ 16,912,500 4.500%, TBA (c) ...... 100,000 $ 104,809 7.000%, 10/15/23 ...... 415 419 Uniform Mortgage-Backed Securities 30 Yr. Pool 7.500%, 01/15/26 ...... 985 1,006 2.000%, TBA (c) ...... 451,130,000 453,799,368 Ginnie Mae II 30 Yr. Pool 2.500%, TBA (c) ...... 32,000,000 33,097,500 4.500%, 12/20/49 ...... 27,394 29,197 3.500%, TBA (c) ...... 66,312,000 69,806,730 5.000%, 06/20/49 ...... 153,466 165,500 889,192,704 5.000%, 07/20/49 ...... 310,380 335,161 Ginnie Mae II ARM Pool U.S. Treasury—21.7% 2.000%, 1Y H15 + 1.500%, 02/20/22 (a) ...... 442 443 U.S. Treasury Bonds 2.000%, 1Y H15 + 1.500%, 01/20/23 (a) ...... 2,101 2,133 1.375%, 11/15/40 ...... 62,400,000 56,052,750 2.000%, 1Y H15 + 1.500%, 02/20/26 (a) ...... 3,321 3,376 1.375%, 08/15/50 ...... 96,600,000 81,434,554 2.000%, 1Y H15 + 1.500%, 01/20/27 (a) ...... 1,674 1,689 1.625%, 11/15/50 ...... 43,500,000 39,068,437 2.000%, 1Y H15 + 1.500%, 02/20/28 (a) ...... 4,575 4,621 1.875%, 02/15/41 ...... 16,900,000 16,543,516 2.000%, 1Y H15 + 1.500%, 03/20/28 (a) ...... 5,751 5,827 2.000%, 02/15/50 ...... 9,600,000 9,431,250 2.000%, 1Y H15 + 1.500%, 01/20/30 (a) ...... 13,113 13,581 2.750%, 08/15/42 ...... 39,000,000 43,946,602 2.000%, 1Y H15 + 1.500%, 03/20/32 (a) ...... 211 219 2.750%, 11/15/42 ...... 19,800,000 22,295,883 2.000%, 1Y H15 + 1.500%, 03/20/33 (a) ...... 1,824 1,898 2.875%, 05/15/43 ...... 83,700,000 96,261,539 2.125%, 1Y H15 + 1.500%, 11/20/27 (a) ...... 6,138 6,237 2.875%, 08/15/45 ...... 17,200,000 19,883,469 2.125%, 1Y H15 + 1.500%, 10/20/28 (a) ...... 357 360 3.125%, 02/15/42 ...... 15,800,000 18,847,055 2.125%, 1Y H15 + 1.500%, 10/20/29 (a) ...... 2,750 2,850 3.125%, 08/15/44 ...... 116,300,000 139,573,629 2.125%, 1Y H15 + 1.500%, 11/20/30 (a) ...... 12,710 12,845 3.375%, 05/15/44 ...... 18,000,000 22,444,453 2.250%, 1Y H15 + 1.500%, 08/20/27 (a) ...... 13,982 14,169 4.250%, 05/15/39 ...... 9,600,000 13,137,375 2.250%, 1Y H15 + 1.500%, 09/20/27 (a) ...... 41,988 42,429 4.375%, 11/15/39 ...... 57,100,000 79,433,683 2.250%, 1Y H15 + 1.500%, 07/20/29 (a) ...... 3,962 4,102 4.500%, 08/15/39 ...... 15,100,000 21,289,820 2.250%, 1Y H15 + 1.500%, 08/20/29 (a) ...... 3,985 4,126 4.625%, 02/15/40 ...... 12,800,000 18,374,000 2.250%, 1Y H15 + 1.500%, 09/20/29 (a) ...... 4,355 4,376 U.S. Treasury Notes 2.250%, 1Y H15 + 1.500%, 08/20/31 (a) ...... 1,048 1,089 0.875%, 11/15/30 ...... 66,900,000 63,617,719 2.250%, 1Y H15 + 1.500%, 07/20/32 (a) ...... 3,306 3,331 1.750%, 09/30/22 (d) (e) ...... 20,400,000 20,810,391 2.250%, 1Y H15 + 1.500%, 09/20/33 (a) ...... 21,203 22,082 1.750%, 06/30/24 ...... 38,200,000 39,671,297 2.500%, 1Y H15 + 1.500%, 11/20/26 (a) ...... 7,799 7,884 1.875%, 07/31/22 ...... 102,600,000 104,555,812 2.500%, 1Y H15 + 1.500%, 10/20/30 (a) ...... 2,118 2,139 1.875%, 08/31/22 (d) ...... 31,200,000 31,831,313 2.625%, 1Y H15 + 2.000%, 10/20/31 (a) ...... 4,318 4,349 2.000%, 10/31/22 (d) (e) ...... 3,300,000 3,381,340 2.875%, 1Y H15 + 1.500%, 04/20/22 (a) ...... 33 33 2.125%, 07/31/24 (d) ...... 24,800,000 26,047,750 2.875%, 1Y H15 + 1.500%, 05/20/26 (a) ...... 5,075 5,145 2.125%, 09/30/24 (d) ...... 7,900,000 8,309,195 2.875%, 1Y H15 + 1.500%, 06/20/27 (a) ...... 1,989 2,019 2.250%, 11/15/24 ...... 110,600,000 116,916,297 2.875%, 1Y H15 + 1.500%, 05/20/28 (a) ...... 2,416 2,474 2.250%, 08/15/27 ...... 24,360,000 26,051,878 2.875%, 1Y H15 + 1.500%, 05/20/29 (a) ...... 3,341 3,456 2.625%, 02/15/29 ...... 29,260,000 32,085,419 2.875%, 1Y H15 + 1.500%, 04/20/30 (a) ...... 5,552 5,766 2.875%, 1Y H15 + 1.500%, 05/20/30 (a) ...... 12,827 13,448 1,171,296,426 2.875%, 1Y H15 + 1.500%, 06/20/30 (a) ...... 4,279 4,447 Total U.S. Treasury & Government Agencies 2.875%, 1Y H15 + 1.500%, 04/20/31 (a) ...... 3,403 3,480 (Cost $2,016,977,203) ...... 2,060,489,130 2.875%, 1Y H15 + 1.500%, 04/20/32 (a) ...... 3,271 3,335 2.875%, 1Y H15 + 1.500%, 05/20/32 (a) ...... 5,923 6,003 Government National Mortgage Association (CMO) Corporate Bonds & Notes—32.0% 0.447%, 1M LIBOR + 0.340%, 12/20/62 (a) ...... 157,724 157,909 0.707%, 1M LIBOR + 0.600%, 08/20/65 (a) ...... 2,749,737 2,776,929 Aerospace/Defense—0.6% 0.707%, 1M LIBOR + 0.600%, 10/20/65 (a) ...... 5,565,965 5,606,408 Boeing Co. (The) 0.757%, 1M LIBOR + 0.650%, 06/20/66 (a) ...... 4,028,813 4,056,516 1.433%, 02/04/24 ...... 13,400,000 13,435,462 0.957%, 1M LIBOR + 0.850%, 09/20/66 (a) ...... 7,002,737 7,138,005 2.750%, 02/01/26 ...... 15,400,000 16,086,161 1.107%, 1M LIBOR + 1.000%, 12/20/65 (a) ...... 18,526,730 18,956,018 Spirit AeroSystems, Inc. 1.107%, 1M LIBOR + 1.000%, 01/20/67 (a) ...... 8,471,336 8,680,393 3.950%, 06/15/23 ...... 4,100,000 4,122,550 1.249%, 12M LIBOR + 0.800%, 09/20/67 (a) ...... 7,714,978 7,855,441 4.600%, 06/15/28 ...... 1,600,000 1,568,000 2.868%, 09/20/66 (a) ...... 9,754,487 10,322,587 35,212,173 Uniform Mortgage-Backed Securities 15 Yr. Pool 2.000%, TBA (c) ...... 97,000,000 99,906,355

See accompanying notes to financial statements. BHFTI-308 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agriculture—0.4% Banks—(Continued) Imperial Brands Finance plc Barclays plc 3.125%, 07/26/24 (144A) ...... 6,300,000 $ 6,631,567 1.536%, 3M LIBOR + 1.380%, 05/16/24 (a) ...... 100,000 $ 101,847 3.875%, 07/26/29 (144A) ...... 12,800,000 13,866,456 2.375%, 1Y GBP Swap + 1.320%, 10/06/23 (GBP) (a) . . . 2,600,000 3,674,888 20,498,023 3.125%, 01/17/24 (GBP) ...... 4,400,000 6,416,466 4.338%, 3M LIBOR + 1.356%, 05/16/24 (a) ...... 700,000 746,330 Airlines—0.4% 4.610%, 3M LIBOR + 1.400%, 02/15/23 (a) ...... 18,200,000 18,665,964 American Airlines Pass-Through Trust 4.972%, 3M LIBOR + 1.902%, 05/16/29 (a) ...... 2,000,000 2,341,953 3.700%, 10/01/26 ...... 2,538,713 2,580,104 BNP Paribas S.A. British Airways Pass-Through Trust 4.625%, 5Y H15 + 3.340%, 02/25/31 (144A) (a) ...... 12,500,000 13,012,750 4.125%, 09/20/31 † (144A) ...... 1,585,935 1,612,484 BPCE S.A. United Airlines Pass-Through Trust 4.000%, 09/12/23 (144A) ...... 17,000,000 18,222,404 2.875%, 10/07/28 ...... 4,074,916 4,159,302 CIT Group, Inc. 3.450%, 07/07/28 ...... 2,364,433 2,403,754 5.250%, 03/07/25 ...... 11,000,000 12,375,000 5.875%, 10/15/27 ...... 12,181,120 13,515,950 Citigroup, Inc. 0.871%, 3M LIBOR + 0.690%, 10/27/22 (a) ...... 10,600,000 10,674,324 24,271,594 Cooperative Rabobank UA 3.875%, 09/26/23 (144A) ...... 1,200,000 1,289,357 Auto Manufacturers—3.0% Credit Agricole S.A. Daimler Finance North America LLC 1.247%, SOFR + 0.892%, 01/26/27 (144A) (a) ...... 4,000,000 3,938,134 2.550%, 08/15/22 (144A) ...... 16,100,000 16,477,190 Credit Suisse Group AG 3.400%, 02/22/22 (144A) ...... 10,000,000 10,200,108 1.359%, 3M LIBOR + 1.240%, 06/12/24 (144A) (a) ..... 10,400,000 10,560,599 3.750%, 11/05/21 (144A) ...... 3,400,000 3,439,186 4.207%, 3M LIBOR + 1.240%, 06/12/24 (144A) (a) ..... 15,700,000 16,721,404 Ford Motor Credit Co. LLC 7.250%, 5Y USD ICE Swap + 4.332%, 09/12/25 1.256%, 3M LIBOR + 1.080%, 08/03/22 (a) ...... 2,700,000 2,690,106 (144A) (a) ...... 5,500,000 6,217,750 1.391%, 3M LIBOR + 1.235%, 02/15/23 (a) ...... 13,000,000 12,951,250 Deutsche Bank AG 3.340%, 3M LIBOR + 3.140%, 01/07/22 (a) ...... 13,300,000 13,429,010 3.300%, 11/16/22 ...... 9,500,000 9,841,715 4.250%, 09/20/22 ...... 5,490,000 5,668,809 3.547%, SOFR + 3.043%, 09/18/31 (a) ...... 13,000,000 13,838,077 General Motors Financial Co., Inc. 4.250%, 10/14/21 ...... 7,700,000 7,783,494 1.457%, 3M LIBOR + 1.310%, 06/30/22 (a) ...... 1,100,000 1,110,773 Goldman Sachs Group, Inc. (The) 3.550%, 07/08/22 ...... 8,400,000 8,669,928 1.934%, 3M LIBOR + 1.750%, 10/28/27 (a) ...... 7,500,000 7,945,350 Hyundai Capital America 3.750%, 05/22/25 ...... 5,375,000 5,879,957 0.800%, 04/03/23 (144A) ...... 13,000,000 12,997,617 ING Groep NV Nissan Motor Acceptance Corp. 4.625%, 01/06/26 (144A) ...... 7,900,000 9,015,260 2.650%, 07/13/22 (144A) ...... 2,219,000 2,255,208 JPMorgan Chase & Co. 2.800%, 01/13/22 (144A) ...... 4,400,000 4,449,319 1.578%, SOFR + 0.885%, 04/22/27 (a) ...... 13,300,000 13,368,908 Nissan Motor Co., Ltd. Lloyds Bank plc 3.522%, 09/17/25 (144A) ...... 8,100,000 8,649,385 7.500%, 04/02/32 (h) ...... 13,000,000 10,161,052 4.345%, 09/17/27 (144A) ...... 3,600,000 3,957,248 Lloyds Banking Group plc 4.810%, 09/17/30 (144A) ...... 14,700,000 16,596,891 7.625%, 5Y GBP Swap + 5.010%, 06/27/23 (GBP) (a) . . . 11,400,000 17,248,652 Volkswagen Bank GmbH Mizuho Financial Group, Inc. 1.875%, 01/31/24 (EUR) ...... 4,600,000 5,718,189 1.979%, SOFR + 1.532%, 09/08/31 (a) ...... 12,800,000 12,521,149 2.500%, 07/31/26 (EUR) ...... 3,000,000 3,954,382 2.201%, SOFR + 1.772%, 07/10/31 (a) ...... 12,400,000 12,378,074 Volkswagen Group of America Finance LLC 2.226%, 3M LIBOR + 0.830%, 05/25/26 (a) ...... 5,900,000 6,104,254 2.850%, 09/26/24 (144A) ...... 13,300,000 14,044,269 Morgan Stanley 4.625%, 11/13/25 (144A) ...... 10,900,000 12,416,249 3.737%, 3M LIBOR + 0.847%, 04/24/24 (a) ...... 9,400,000 9,941,494 159,675,117 Natwest Group plc 2.000%, 3M EURIBOR + 2.039%, 03/08/23 (EUR) (a) . . . 3,300,000 3,970,441 Banks—7.8% 2.500%, 03/22/23 (EUR) ...... 11,943,000 14,795,279 Banco Espirito Santo S.A. Santander Holdings U.S.A., Inc. 2.625%, 05/08/17 (EUR) (f) ...... 1,700,000 282,209 3.450%, 06/02/25 ...... 4,800,000 5,158,196 4.750%, 01/15/18 (EUR) (f) ...... 3,100,000 514,616 Santander UK Group Holdings plc Bank of America Corp. 7.375%, 5Y GBP Swap + 5.543%, 06/24/22 (GBP) (a) . . . 1,000,000 1,459,340 0.981%, SOFR + 0.910%, 09/25/25 (a) ...... 4,800,000 4,796,304 Shinhan Financial Group Co., Ltd. 4.125%, 01/22/24 ...... 2,130,000 2,319,108 1.350%, 01/10/26 (144A) ...... 12,600,000 12,580,092 Barclays Bank plc Societe Generale S.A. 7.625%, 11/21/22 ...... 366,000 399,169 4.250%, 09/14/23 (144A) ...... 13,900,000 14,938,027

See accompanying notes to financial statements. BHFTI-309 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Diversified Financial Services—(Continued) Standard Chartered plc Aviation Capital Group LLC 4.247%, 3M LIBOR + 1.150%, 01/20/23 (144A) (a) ..... 4,400,000 $ 4,489,694 4.125%, 08/01/25 (144A) ...... 10,500,000 $ 11,339,731 Sumitomo Mitsui Financial Group, Inc. Blue Owl Finance LLC 1.474%, 07/08/25 ...... 12,500,000 12,622,820 3.125%, 06/10/31 (144A) ...... 13,000,000 12,901,915 UBS AG Capital One Financial Corp. 7.625%, 08/17/22 ...... 3,600,000 3,872,828 4.250%, 04/30/25 ...... 10,000,000 11,142,411 UBS Group AG Daiwa Securities Group, Inc. 4.125%, 04/15/26 (144A) ...... 10,200,000 11,439,622 3.129%, 04/19/22 (144A) ...... 12,000,000 12,266,362 UniCredit S.p.A. GE Capital Funding LLC 7.830%, 12/04/23 (144A) ...... 29,700,000 34,251,822 3.450%, 05/15/25 ...... 12,100,000 13,168,054 Virgin Money UK plc 4.400%, 05/15/30 ...... 14,800,000 17,246,921 4.000%, 1Y UKG + 3.750%, 09/03/27 (GBP) (a) ...... 500,000 766,339 LeasePlan Corp. NV Wells Fargo & Co. 2.875%, 10/24/24 (144A) ...... 13,100,000 13,757,843 1.741%, 3M EURIBOR + 1.850%, 05/04/30 (EUR) (a) . . . 8,600,000 10,987,244 Mitsubishi HC Capital, Inc. 2.393%, SOFR + 2.100%, 06/02/28 (a) ...... 12,300,000 12,756,274 3.406%, 02/28/22 (144A) ...... 200,000 203,307 3.000%, 02/19/25 ...... 6,000,000 6,420,931 3.960%, 09/19/23 (144A) ...... 5,045,000 5,379,055 419,806,961 Navient Corp. 7.250%, 01/25/22 ...... 3,200,000 3,319,040 Beverages—0.3% Nomura Holdings, Inc. Anheuser-Busch InBev Worldwide, Inc. 2.679%, 07/16/30 ...... 9,600,000 9,750,220 4.500%, 06/01/50 ...... 13,000,000 15,820,875 OneMain Finance Corp. 6.125%, 05/15/22 ...... 9,100,000 9,452,625 Biotechnology—0.1% 6.875%, 03/15/25 ...... 11,800,000 13,317,480 Royalty Pharma plc 145,581,628 1.200%, 09/02/25 (144A) ...... 3,000,000 2,972,688 Electric—2.8% Chemicals—0.2% Adani Electricity Mumbai, Ltd. International Flavors & Fragrances, Inc. 3.949%, 02/12/30 (144A) ...... 4,700,000 4,686,933 2.300%, 11/01/30 (144A) ...... 12,800,000 12,727,757 AES Corp. (The) 2.450%, 01/15/31 (144A) ...... 5,000,000 4,947,054 Commercial Services—0.3% Duke Energy Corp. Central Nippon Expressway Co., Ltd. 0.775%, 3M LIBOR + 0.650%, 03/11/22 (a) ...... 8,500,000 8,531,605 0.735%, 3M LIBOR + 0.560%, 11/02/21 (a) ...... 2,600,000 2,603,796 Edison International Rockefeller Foundation (The) 3.125%, 11/15/22 ...... 7,400,000 7,621,825 2.492%, 10/01/50 ...... 12,800,000 12,460,791 3.550%, 11/15/24 ...... 3,600,000 3,826,284 15,064,587 Enel Finance International NV 2.875%, 05/25/22 (144A) ...... 9,000,000 9,196,952 Computers—0.3% 4.250%, 09/14/23 (144A) ...... 14,900,000 16,050,945 Dell International LLC / EMC Corp. Evergy, Inc. 4.900%, 10/01/26 ...... 900,000 1,038,675 2.450%, 09/15/24 ...... 13,500,000 14,137,740 5.450%, 06/15/23 ...... 9,600,000 10,414,689 FirstEnergy Corp. NetApp, Inc. 4.400%, 07/15/27 ...... 1,300,000 1,413,750 2.375%, 06/22/27 ...... 7,400,000 7,758,999 NextEra Energy Capital Holdings, Inc. 3.250%, 04/01/26 ...... 2,800,000 3,038,743 19,212,363 Pacific Gas and Electric Co. 1.531%, 3M LIBOR + 1.375%, 11/15/21 (a) ...... 12,800,000 12,826,226 Distribution/Wholesale—0.1% 1.750%, 06/16/22 ...... 9,900,000 9,894,539 Toyota Tsusho Corp. 3.150%, 01/01/26 ...... 10,900,000 11,242,586 3.625%, 09/13/23 ...... 2,600,000 2,766,207 3.300%, 12/01/27 ...... 1,600,000 1,644,642 3.400%, 08/15/24 ...... 4,500,000 4,722,890 Diversified Financial Services—2.7% 3.450%, 07/01/25 ...... 3,600,000 3,773,454 AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.500%, 06/15/25 ...... 2,700,000 2,831,217 4.450%, 10/01/25 ...... 7,000,000 7,705,432 4.250%, 08/01/23 ...... 3,000,000 3,178,368 Aircastle, Ltd. 4.550%, 07/01/30 ...... 5,000,000 5,347,797 5.500%, 02/15/22 ...... 4,498,000 4,631,232

See accompanying notes to financial statements. BHFTI-310 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—(Continued) Insurance—(Continued) ReNew Wind Energy AP2 / ReNew Power Pvt. Ltd. Sitka Holdings LLC 4.500%, 07/14/28 (144A) ...... 13,100,000 $ 13,317,665 4.643%, 3M LIBOR + 4.500%, 07/06/26 (144A) (a) ..... 14,000,000 $ 14,000,000 WEC Energy Group, Inc. Society of Lloyd’s 1.375%, 10/15/27 ...... 5,000,000 4,883,552 4.750%, 10/30/24 (GBP) ...... 1,600,000 2,450,880 1.800%, 10/15/30 ...... 5,000,000 4,794,929 20,413,270 151,909,696 Internet—0.3% Electronics—0.3% Booking Holdings, Inc. Arrow Electronics, Inc. 2.750%, 03/15/23 ...... 4,600,000 4,776,288 3.250%, 09/08/24 ...... 6,150,000 6,545,472 Expedia Group, Inc. Flex, Ltd. 2.950%, 03/15/31 ...... 9,500,000 9,626,482 4.875%, 06/15/29 ...... 8,160,000 9,411,760 14,402,770 5.000%, 02/15/23 ...... 1,700,000 1,812,097 17,769,329 Lodging—0.7% Choice Hotels International, Inc. Energy-Alternate Sources—0.2% 3.700%, 12/01/29 ...... 2,500,000 2,706,275 Azure Power Solar Energy Pvt. Ltd. Hyatt Hotels Corp. 5.650%, 12/24/24 (144A) ...... 8,800,000 9,328,000 4.850%, 03/15/26 ...... 2,700,000 3,015,390 Marriott International, Inc. Engineering & Construction—0.1% 3.600%, 04/15/24 ...... 10,500,000 11,197,015 Sydney Airport Finance Co. Pty, Ltd. 4.150%, 12/01/23 ...... 14,100,000 15,121,392 3.900%, 03/22/23 (144A) ...... 3,100,000 3,262,564 MGM Resorts International 7.750%, 03/15/22 ...... 1,100,000 1,149,720 Food—0.1% Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. Danone S.A. 4.250%, 05/30/23 (144A) ...... 3,800,000 3,942,500 2.589%, 11/02/23 (144A) ...... 3,858,000 4,021,861 37,132,292

Gas—0.2% Media—0.9% Atmos Energy Corp. Charter Communications Operating LLC / Charter Communications Operating Capital 1.500%, 01/15/31 ...... 12,900,000 12,236,439 3.500%, 06/01/41 ...... 13,300,000 13,390,038 4.464%, 07/23/22 ...... 14,229,000 14,731,124 Healthcare-Services—0.2% CSC Holdings LLC Fresenius Medical Care U.S. Finance III, Inc. 5.375%, 02/01/28 (144A) ...... 3,800,000 4,020,210 1.875%, 12/01/26 (144A) ...... 12,100,000 12,100,347 Time Warner Cable LLC 4.000%, 09/01/21 ...... 1,000,000 1,000,000 Home Builders—0.1% Walt Disney Co. (The) DR Horton, Inc. 3.600%, 01/13/51 ...... 12,600,000 14,282,190 4.375%, 09/15/22 ...... 4,700,000 4,871,428 47,423,562 Household Products/Wares—0.2% Reckitt Benckiser Treasury Services plc Oil & Gas—0.6% 0.694%, 3M LIBOR + 0.560%, 06/24/22 (144A) (a) ..... 10,600,000 10,652,563 BG Energy Capital plc 4.000%, 10/15/21 (144A) ...... 1,300,000 1,313,498 Housewares—0.1% BP Capital Markets America, Inc. Newell Brands, Inc. 4.234%, 11/06/28 ...... 4,000,000 4,638,375 4.350%, 04/01/23 ...... 4,876,000 5,107,610 Chevron Corp. 2.236%, 05/11/30 ...... 6,300,000 6,492,046 Insurance—0.4% Equinor ASA Ambac Assurance Corp. 3.625%, 04/06/40 ...... 3,700,000 4,218,291 5.100%, (144A) (g) ...... 144 202 Occidental Petroleum Corp. Ambac LSNI LLC 2.900%, 08/15/24 ...... 12,400,000 12,679,000 6.000%, 3M LIBOR + 5.000%, 02/12/23 (144A) (a) ..... 3,320,436 3,320,436 Rio Oil Finance Trust Reliance Standard Life Global Funding II 9.250%, 07/06/24 (144A) ...... 1,815,353 2,005,965 3.850%, 09/19/23 (144A) ...... 600,000 641,752

See accompanying notes to financial statements. BHFTI-311 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Oil & Gas—(Continued) Real Estate Investment Trusts—(Continued) Shell International Finance B.V. American Tower Corp. 2.750%, 04/06/30 ...... 1,900,000 $ 2,025,279 3.375%, 05/15/24 ...... 16,000,000 $ 17,112,185 33,372,454 3.500%, 01/31/23 ...... 1,807,000 1,893,031 Brandywine Operating Partnership L.P. Packaging & Containers—0.3% 4.100%, 10/01/24 ...... 7,500,000 8,133,037 WRKCo, Inc. Brixmor Operating Partnership L.P. 4.650%, 03/15/26 ...... 14,700,000 16,849,388 3.900%, 03/15/27 ...... 6,000,000 6,583,312 4.125%, 06/15/26 ...... 5,500,000 6,120,979 Pharmaceuticals—0.9% CyrusOne L.P. / CyrusOne Finance Corp. AbbVie, Inc. 1.450%, 01/22/27 (EUR) ...... 2,200,000 2,657,797 2.850%, 05/14/23 ...... 3,000,000 3,121,868 Digital Realty Trust L.P. 2.950%, 11/21/26 ...... 5,100,000 5,482,227 4.750%, 10/01/25 ...... 8,000,000 9,093,866 3.200%, 05/14/26 ...... 1,300,000 1,409,550 EPR Properties 3.600%, 05/14/25 ...... 700,000 763,838 3.750%, 08/15/29 ...... 2,500,000 2,503,469 Bayer U.S. Finance LLC Equinix, Inc. 1.129%, 3M LIBOR + 1.010%, 12/15/23 (144A) (a) ..... 17,400,000 17,649,168 1.000%, 09/15/25 ...... 2,900,000 2,879,358 CVS Health Corp. Federal Realty Investment Trust 3.750%, 04/01/30 ...... 3,900,000 4,364,373 3.500%, 06/01/30 ...... 4,900,000 5,380,605 4.300%, 03/25/28 ...... 2,820,000 3,239,917 GLP Capital L.P. / GLP Financing II, Inc. CVS Pass-Through Trust 5.250%, 06/01/25 ...... 5,000,000 5,628,250 6.943%, 01/10/30 ...... 630,030 766,318 Goodman U.S. Finance Three LLC Teva Pharmaceutical Finance Netherlands II B.V. 3.700%, 03/15/28 (144A) ...... 10,800,000 11,703,985 1.250%, 03/31/23 (EUR) ...... 3,700,000 4,288,562 Hudson Pacific Properties L.P. 3.250%, 04/15/22 (EUR) ...... 8,000,000 9,568,529 4.650%, 04/01/29 ...... 2,400,000 2,759,774 MPT Operating Partnership L.P. / MPT Finance Corp. 50,654,350 3.692%, 06/05/28 (GBP) ...... 2,000,000 2,946,490 Omega Healthcare Investors, Inc. Pipelines—0.5% 4.750%, 01/15/28 ...... 8,900,000 10,030,371 Cheniere Corpus Christi Holdings LLC Piedmont Operating Partnership L.P. 5.125%, 06/30/27 ...... 9,000,000 10,465,080 3.150%, 08/15/30 ...... 12,900,000 13,093,702 Enbridge, Inc. Public Storage 0.655%, 3M LIBOR + 0.500%, 02/18/22 (a) ...... 13,000,000 13,032,023 3.094%, 09/15/27 ...... 15,500,000 16,975,161 Energy Transfer L.P. Realty Income Corp. 5.950%, 12/01/25 ...... 1,800,000 2,107,416 3.875%, 04/15/25 ...... 10,700,000 11,805,057 Midwest Connector Capital Co. LLC Service Properties Trust 3.625%, 04/01/22 (144A) ...... 2,400,000 2,440,512 4.375%, 02/15/30 ...... 11,490,000 10,944,225 28,045,031 Simon Property Group L.P. 2.750%, 06/01/23 ...... 18,690,000 19,396,581 Real Estate—0.3% UDR, Inc. CPI Property Group S.A. 3.500%, 07/01/27 ...... 1,900,000 2,103,279 2.125%, 10/04/24 (EUR) ...... 3,800,000 4,732,296 4.400%, 01/26/29 ...... 3,400,000 3,936,456 Logicor Financing Sarl WEA Finance LLC 1.625%, 07/15/27 (EUR) ...... 4,500,000 5,619,563 3.150%, 04/05/22 (144A) ...... 4,770,000 4,840,623 Ontario Teachers’ Cadillac Fairview Properties Trust Welltower, Inc. 3.125%, 03/20/22 (144A) ...... 1,200,000 1,222,247 4.250%, 04/01/26 ...... 1,102,000 1,242,858 3.875%, 03/20/27 (144A) ...... 1,700,000 1,873,142 184,290,930 Tesco Property Finance 6 plc 5.411%, 07/13/44 (GBP) ...... 1,028,741 1,857,591 Retail—0.2% 15,304,839 7-Eleven, Inc. 1.800%, 02/10/31 (144A) ...... 13,100,000 12,522,662 Real Estate Investment Trusts—3.4% American Campus Communities Operating Partnership L.P. Savings & Loans—0.2% 3.625%, 11/15/27 ...... 2,200,000 2,393,755 Nationwide Building Society American Homes 4 Rent L.P. 4.363%, 3M LIBOR + 1.392%, 08/01/24 (144A) (a) ..... 9,390,000 10,072,258 4.250%, 02/15/28 ...... 1,900,000 2,132,724

See accompanying notes to financial statements. BHFTI-312 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Semiconductors—1.2% Asset-Backed - Credit Card—0.3% Broadcom, Inc. Evergreen Credit Card Trust 3.459%, 09/15/26 ...... 8,769,000 $ 9,549,417 1.900%, 09/16/24 (144A) ...... 16,200,000 $ 16,524,467 3.500%, 02/15/41 (144A) ...... 13,300,000 13,606,283 4.300%, 11/15/32 ...... 14,900,000 16,967,010 Asset-Backed - Home Equity—1.5% 4.750%, 04/15/29 ...... 10,800,000 12,563,175 Accredited Mortgage Loan Trust Micron Technology, Inc. 0.672%, 1M LIBOR + 0.290%, 07/25/34 (a) ...... 6,307,906 6,219,027 4.640%, 02/06/24 ...... 9,000,000 9,865,530 ACE Securities Corp. Home Equity Loan Trust NXP B.V. / NXP Funding LLC 0.242%, 1M LIBOR + 0.150%, 07/25/36 (a) ...... 8,326,982 3,913,149 4.625%, 06/01/23 (144A) ...... 3,902,000 4,193,645 0.392%, 1M LIBOR + 0.300%, 04/25/36 (a) ...... 3,924,312 3,858,953 66,745,060 Asset-Backed Funding Certificates Trust 0.792%, 1M LIBOR + 0.700%, 06/25/34 (a) ...... 1,337,549 1,315,604 Software—0.3% 0.917%, 1M LIBOR + 0.825%, 07/25/35 (a) ...... 7,400,000 7,340,466 Oracle Corp. Asset-Backed Securities Corp. Home Equity Loan Trust 3.600%, 04/01/40 ...... 6,400,000 6,750,451 0.172%, 1M LIBOR + 0.080%, 05/25/37 (a) ...... 21,456 16,977 3.600%, 04/01/50 ...... 10,600,000 10,884,636 0.767%, 1M LIBOR + 0.675%, 11/25/35 (a) ...... 750,536 750,395 Bear Stearns Asset-Backed Securities I Trust 17,635,087 0.342%, 1M LIBOR + 0.250%, 04/25/37 (a) ...... 10,571,790 12,358,773 0.782%, 1M LIBOR + 0.690%, 02/25/36 (a) ...... 1,000,000 995,090 Telecommunications—0.9% 0.892%, 1M LIBOR + 0.800%, 10/27/32 (a) ...... 11,599 11,466 Level 3 Financing, Inc. 1.092%, 1M LIBOR + 1.000%, 10/25/37 (a) ...... 846,578 846,214 3.875%, 11/15/29 (144A) ...... 6,330,000 6,779,620 1.097%, 1M LIBOR + 1.005%, 06/25/35 (a) ...... 5,492,124 5,454,072 Sprint Communications, Inc. Citigroup Mortgage Loan Trust 6.000%, 11/15/22 ...... 1,000,000 1,058,750 0.252%, 1M LIBOR + 0.160%, 12/25/36 (144A) (a) ..... 6,933,655 4,631,997 Sprint Corp. GSAA Home Equity Trust 7.125%, 06/15/24 ...... 1,000,000 1,153,750 0.752%, 1M LIBOR + 0.660%, 03/25/35 (a) ...... 184,760 186,587 7.875%, 09/15/23 ...... 2,800,000 3,181,013 HSI Asset Securitization Corp. Trust T-Mobile USA, Inc. 0.432%, 1M LIBOR + 0.340%, 12/25/36 (a) ...... 9,341,070 3,536,481 2.550%, 02/15/31 ...... 8,900,000 8,999,680 IXIS Real Estate Capital Trust Verizon Communications, Inc. 1.037%, 1M LIBOR + 0.945%, 02/25/35 (a) ...... 2,841,374 2,817,989 1.450%, 03/20/26 ...... 7,650,000 7,715,058 MASTR Asset-Backed Securities Trust 3.376%, 02/15/25 ...... 16,266,000 17,670,636 0.142%, 1M LIBOR + 0.050%, 08/25/36 (a) ...... 5,283,849 2,377,736 46,558,507 0.252%, 1M LIBOR + 0.160%, 08/25/36 (a) ...... 3,421,086 1,574,240 0.262%, 1M LIBOR + 0.170%, 10/25/36 (a) ...... 3,589,116 3,555,610 Toys/Games/Hobbies—0.2% Merrill Lynch Mortgage Investors Trust Hasbro, Inc. 0.592%, 1M LIBOR + 0.500%, 07/25/37 (a) ...... 9,399,361 3,171,514 2.600%, 11/19/22 ...... 10,400,000 10,699,778 0.842%, 1M LIBOR + 0.750%, 06/25/36 (a) ...... 275,112 274,993 Morgan Stanley ABS Capital I, Inc. Trust Trucking & Leasing—0.2% 0.152%, 1M LIBOR + 0.060%, 05/25/37 (a) ...... 127,401 115,327 DAE Funding LLC 0.392%, 1M LIBOR + 0.300%, 06/25/36 (a) ...... 196,534 177,651 1.625%, 02/15/24 (144A) ...... 13,300,000 13,185,354 NovaStar Mortgage Funding Trust 0.292%, 1M LIBOR + 0.200%, 09/25/37 (a) ...... 5,019,688 4,927,363 Total Corporate Bonds & Notes Option One Mortgage Corp. Asset-Backed Certificates (Cost $1,659,642,294) ...... 1,730,177,402 0.732%, 1M LIBOR + 0.640%, 08/25/33 (a) ...... 9,611 9,509 Option One Mortgage Loan Trust Asset-Backed Securities—11.7% 0.232%, 1M LIBOR + 0.140%, 01/25/37 (a) ...... 5,063,512 3,777,344 Renaissance Home Equity Loan Trust Asset-Backed - Automobile—0.2% 0.972%, 1M LIBOR + 0.880%, 08/25/33 (a) ...... 75,919 74,860 Chesapeake Funding II LLC Residential Asset Securities Corp. Trust 0.443%, 1M LIBOR + 0.370%, 08/15/30 (144A) (a) ..... 5,082,117 5,085,314 0.392%, 1M LIBOR + 0.150%, 07/25/36 (a) ...... 1,614,806 1,606,737 3.230%, 08/15/30 (144A) ...... 3,397,927 3,424,912 0.512%, 1M LIBOR + 0.280%, 06/25/36 (a) ...... 3,811,317 3,804,099 OneMain Direct Auto Receivables Trust 0.672%, 1M LIBOR + 0.290%, 06/25/33 (a) ...... 681,319 643,403 3.430%, 12/16/24 (144A) ...... 3,925,091 3,941,747 80,343,626 12,451,973

See accompanying notes to financial statements. BHFTI-313 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Manufactured Housing—0.0% Asset-Backed - Other—(Continued) Conseco Finance Corp. Home Equity Loan Trust 6.220%, 03/01/30 ...... 1,007 $ 1,009 0.322%, 1M LIBOR + 0.230%, 04/25/37 (a) ...... 11,285,867 $ 10,851,632 Home Equity Mortgage Loan Asset-Backed Trust Asset-Backed - Other—9.6% 0.312%, 1M LIBOR + 0.220%, 04/25/37 (a) ...... 2,727,299 2,349,943 Adagio CLO ICG U.S. CLO, Ltd. 0.720%, 3M EURIBOR + 0.720%, 10/15/31 1.584%, 3M LIBOR + 1.400%, 10/22/31 (144A) (a) ..... 15,400,000 15,411,612 (144A) (EUR) (a) ...... 11,000,000 12,950,083 Jamestown CLO, Ltd. Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through 1.410%, 3M LIBOR + 1.220%, 01/17/27 (144A) (a) ..... 1,066,600 1,066,975 Certificates Lehman XS Trust 0.872%, 1M LIBOR + 0.780%, 05/25/34 (a) ...... 1,754,767 1,755,739 0.892%, 1M LIBOR + 0.800%, 10/25/35 (a) ...... 705,581 706,176 AMMC CLO, Ltd. LoanCore Issuer, Ltd. 1.166%, 3M LIBOR + 0.980%, 04/14/29 (144A) (a) ..... 14,425,000 14,422,605 1.203%, 1M LIBOR + 1.130%, 05/15/28 (144A) (a) ..... 4,950,165 4,950,166 Anchorage Capital Clo 16, Ltd. Long Beach Mortgage Loan Trust 1.588%, 3M LIBOR + 1.400%, 10/20/31 (144A) (a) ..... 10,200,000 10,234,384 0.412%, 1M LIBOR + 0.320%, 05/25/36 (a) ...... 30,632,563 12,928,945 Ares European CLO X DAC 0.612%, 1M LIBOR + 0.520%, 08/25/45 (a) ...... 640,347 636,786 0.780%, 3M EURIBOR + 0.780%, 10/15/31 0.872%, 1M LIBOR + 0.780%, 08/25/35 (a) ...... 10,000,000 9,884,344 (144A) (EUR) (a) ...... 11,000,000 13,038,958 Marathon CLO IX, Ltd. Argent Securities, Inc. Asset-Backed Pass-Through Certificates 1.334%, 3M LIBOR + 1.150%, 04/15/29 (144A) (a) ..... 13,100,000 13,093,240 0.852%, 1M LIBOR + 0.760%, 02/25/36 (a) ...... 4,501,916 4,100,308 Marathon CLO, Ltd. Brookside Mill CLO, Ltd. 1.019%, 3M LIBOR + 0.870%, 11/21/27 (144A) (a) ..... 5,922,472 5,923,793 1.010%, 3M LIBOR + 0.820%, 01/17/28 (144A) (a) ..... 5,883,858 5,871,985 Merrill Lynch First Franklin Mortgage Loan Trust Catamaran CLO, Ltd. 1.342%, 1M LIBOR + 1.250%, 10/25/37 (a) ...... 12,640,462 12,447,196 1.444%, 3M LIBOR + 1.260%, 04/22/30 (144A) (a) ..... 15,918,343 15,847,777 MF1, Ltd. CIFC Funding, Ltd. 1.824%, 1M LIBOR + 1.700%, 11/15/35 (144A) (a) ..... 13,000,000 13,105,602 1.036%, 3M LIBOR + 0.860%, 10/25/27 (144A) (a) ..... 13,658,866 13,617,152 MidOcean Credit CLO II Countrywide Asset-Backed Certificates Zero Coupon, 3M LIBOR + 1.030%, 01/29/30 (144A) (a) . . . 13,200,000 13,200,502 0.232%, 1M LIBOR + 0.140%, 07/25/37 (a) ...... 8,090,968 7,637,314 Morgan Stanley ABS Capital I, Inc. Trust 0.232%, 1M LIBOR + 0.140%, 04/25/47 (a) ...... 2,576,620 2,515,335 0.342%, 1M LIBOR + 0.250%, 07/25/36 (a) ...... 3,658,840 3,243,250 0.242%, 1M LIBOR + 0.150%, 05/25/37 (a) ...... 159,704 159,360 0.712%, 1M LIBOR + 0.620%, 12/25/35 (a) ...... 1,843,645 1,826,141 0.242%, 1M LIBOR + 0.150%, 06/25/47 (a) ...... 125,281 124,599 MP CLO VII, Ltd. 0.312%, 1M LIBOR + 0.220%, 09/25/37 (a) ...... 3,632,260 3,645,359 0.891%, 3M LIBOR + 0.890%, 10/18/28 (144A) (a) ..... 13,500,000 13,502,484 0.652%, 1M LIBOR + 0.560%, 09/25/36 (a) ...... 876,034 874,251 OCP CLO, Ltd. 4.471%, 10/25/46 (a) ...... 1,498,195 1,503,999 0.984%, 3M LIBOR + 0.800%, 07/15/27 (144A) (a) ..... 839,072 839,099 4.661%, 10/25/32 (a) ...... 5,301,554 5,159,527 OZLM Funding, Ltd. CWABS Asset-Backed Certificates Trust 1.154%, 3M LIBOR + 0.970%, 07/22/29 (144A) (a) ..... 15,900,000 15,888,409 0.232%, 1M LIBOR + 0.140%, 02/25/37 (a) ...... 2,899,171 2,770,088 OZLM XVI Ltd. 0.242%, 1M LIBOR + 0.150%, 09/25/46 (a) ...... 2,230,795 2,202,132 1.186%, 3M LIBOR + 1.030%, 05/16/30 (144A) (a) ..... 13,000,000 12,999,961 0.242%, 1M LIBOR + 0.150%, 03/25/47 (a) ...... 894,799 880,904 Park Place Securities, Inc. Asset-Backed Pass-Through Certificates 1.142%, 1M LIBOR + 1.050%, 11/25/35 (a) ...... 3,967,794 3,969,356 0.827%, 1M LIBOR + 0.735%, 09/25/35 (a) ...... 5,000,000 4,962,637 Dorchester Park CLO DAC 1.142%, 1M LIBOR + 1.050%, 10/25/34 (a) ...... 5,800,000 5,795,721 1.088%, 3M LIBOR + 0.900%, 04/20/28 (144A) (a) ..... 5,160,687 5,159,397 1.892%, 1M LIBOR + 1.800%, 12/25/34 (a) ...... 4,636,570 4,690,999 First Franklin Mortgage Loan Trust Pretium Mortgage Credit Partners LLC 0.232%, 1M LIBOR + 0.140%, 12/25/36 (a) ...... 5,314,316 3,066,075 3.179%, 06/27/69 (144A) (h) ...... 5,675,451 5,690,681 0.402%, 1M LIBOR + 0.310%, 10/25/36 (a) ...... 16,312,000 14,012,295 Residential Asset Securities Corp. Trust 0.812%, 1M LIBOR + 0.720%, 10/25/35 (a) ...... 2,174,089 2,170,705 0.252%, 1M LIBOR + 0.160%, 11/25/36 (a) ...... 863,240 936,175 1.022%, 1M LIBOR + 0.930%, 10/25/34 (a) ...... 9,941,548 9,925,790 Saxon Asset Securities Trust 1.517%, 1M LIBOR + 1.425%, 10/25/34 (a) ...... 2,738,233 2,758,891 0.492%, 1M LIBOR + 0.400%, 09/25/47 (a) ...... 2,528,252 2,449,781 Gallatin CLO, Ltd. Sculptor CLO XXV, Ltd. 1.236%, 3M LIBOR + 1.050%, 01/21/28 (144A) (a) ..... 11,540,234 11,546,258 1.410%, 3M LIBOR + 1.270%, 01/15/31 (144A) (a) ..... 15,050,000 15,063,816 GSAMP Trust Securitized Asset Backed Receivables LLC Trust 0.262%, 1M LIBOR + 0.170%, 12/25/36 (a) ...... 2,662,695 1,642,828 0.592%, 1M LIBOR + 0.500%, 03/25/36 (a) ...... 15,848,326 12,219,052 0.677%, 1M LIBOR + 0.585%, 01/25/36 (a) ...... 8,132,334 8,131,077 0.592%, 1M LIBOR + 0.500%, 05/25/36 (a) ...... 7,909,055 5,455,142 1.412%, 1M LIBOR + 1.320%, 12/25/34 (a) ...... 5,050,358 4,362,681 Soundview Home Loan Trust Harvest CLO XX 0.202%, 1M LIBOR + 0.110%, 02/25/37 (a) ...... 2,272,449 818,451 0.960%, 3M EURIBOR + 0.960%, 10/20/31 1.052%, 1M LIBOR + 0.960%, 05/25/35 (a) ...... 980,124 980,359 (144A) (EUR) (a) ...... 10,900,000 12,848,227

See accompanying notes to financial statements. BHFTI-314 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Collateralized Mortgage Obligations—(Continued) Specialty Underwriting & Residential Finance Trust BCAP LLC Trust 0.362%, 1M LIBOR + 0.270%, 04/25/37 (a) ...... 3,267,859 $ 2,573,211 0.512%, 1M LIBOR + 0.420%, 05/25/47 (a) ...... 5,829,299 $ 5,599,532 Starwood Commercial Mortgage Trust 5.250%, 02/26/36 (144A) (a) ...... 2,200,384 1,381,911 1.204%, 1M LIBOR + 1.080%, 07/15/38 (144A) (a) ..... 13,300,000 13,300,000 Bear Stearns Adjustable Rate Mortgage Trust Structured Asset Investment Loan Trust 2.773%, 10/25/35 (a) ...... 831,123 850,901 0.242%, 1M LIBOR + 0.150%, 09/25/36 (a) ...... 2,088,833 2,049,484 2.829%, 02/25/33 (a) ...... 3,885 3,606 0.722%, 1M LIBOR + 0.630%, 11/25/35 (a) ...... 7,501,035 7,398,469 Bear Stearns ALT-A Trust Structured Asset Securities Corp. Mortgage Loan Trust 2.624%, 05/25/35 (a) ...... 519,254 531,277 0.992%, 1M LIBOR + 0.900%, 08/25/37 (a) ...... 244,450 244,993 3.008%, 09/25/35 (a) ...... 481,644 374,790 Symphony CLO, Ltd. 3.089%, 11/25/36 (a) ...... 1,626,713 1,084,661 1.064%, 3M LIBOR + 0.880%, 04/15/28 (144A) (a) ..... 2,395,304 2,392,437 3.115%, 11/25/36 (a) ...... 2,070,650 1,576,168 Telos CLO, Ltd. 3.122%, 05/25/36 (a) ...... 1,396,308 944,097 1.140%, 3M LIBOR + 0.950%, 04/17/28 (144A) (a) ..... 7,420,408 7,417,996 Bear Stearns Structured Products, Inc. Trust TICP CLO III-2, Ltd. 2.986%, 12/26/46 (a) ...... 438,895 381,381 1.028%, 3M LIBOR + 0.840%, 04/20/28 (144A) (a) ..... 8,616,929 8,592,535 3.227%, 01/26/36 (a) ...... 509,365 431,523 Tralee CLO, Ltd. Chase Mortgage Finance Trust 1.298%, 3M LIBOR + 1.110%, 10/20/28 (144A) (a) ..... 6,109,761 6,109,028 2.877%, 12/25/35 (a) ...... 707,915 682,307 U.S. Small Business Administration 3.067%, 03/25/37 (a) ...... 719,308 723,363 6.220%, 12/01/28 ...... 838,261 939,568 3.206%, 09/25/36 (a) ...... 1,336,869 1,215,618 Venture CLO, Ltd. Chevy Chase Funding LLC Mortgage-Backed Certificate 1.004%, 3M LIBOR + 0.820%, 04/15/27 (144A) (a) ..... 3,657,162 3,653,633 0.342%, 1M LIBOR + 0.250%, 08/25/35 (144A) (a) ..... 14,328 14,721 Venture XVI CLO Ltd CHL Mortgage Pass-Through Trust 1.064%, 3M LIBOR + 0.880%, 04/15/27 (144A) (a) ..... 13,133,994 13,121,017 0.492%, 1M LIBOR + 0.400%, 04/25/46 (a) ...... 1,534,438 1,454,576 Venture XXVII CLO, Ltd. 0.732%, 1M LIBOR + 0.640%, 03/25/35 (a) ...... 296,138 293,861 1.238%, 3M LIBOR + 1.050%, 07/20/30 (144A) (a) ..... 13,400,000 13,399,987 3.014%, 09/20/36 (a) ...... 1,739,470 1,672,590 Wells Fargo Home Equity Asset-Backed Securities Trust 5.750%, 06/25/37 ...... 1,089,044 790,469 0.812%, 1M LIBOR + 0.720%, 12/25/35 (a) ...... 11,344,997 11,316,647 Citicorp Mortgage Securities Trust 515,333,514 6.000%, 05/25/37 ...... 931,808 925,557 Citigroup Mortgage Loan Trust Asset-Backed - Student Loan—0.1% 0.742%, 1M LIBOR + 0.650%, 10/25/36 (a) ...... 5,364,542 4,389,698 SoFi Professional Loan Program LLC 2.210%, 1Y H15 + 2.150%, 09/25/35 (a) ...... 120,207 125,396 3.020%, 02/25/40 (144A) ...... 2,696,915 2,780,027 2.220%, 1Y H15 + 2.100%, 09/25/35 (a) ...... 528,132 551,357 Utah State Board of Regents 2.530%, 1Y H15 + 2.400%, 10/25/35 (a) ...... 703,000 710,770 0.842%, 1M LIBOR + 0.750%, 01/25/57 (a) ...... 4,828,252 4,803,267 2.625%, 10/25/46 (a) ...... 875,753 862,563 Countrywide Alternative Loan Trust 7,583,294 0.612%, 1M LIBOR + 0.520%, 06/25/46 (a) ...... 5,946,728 5,556,172 Total Asset-Backed Securities 1.596%, 12M MTA + 1.480%, 01/25/36 (a) ...... 550,629 553,297 (Cost $599,992,534) ...... 632,237,883 4.909%, -1 x 1M LIBOR + 5.000%, 05/25/35 (a) (b) .... 662,418 70,430 5.500%, 02/25/36 ...... 1,857,131 1,687,850 6.000%, 03/25/35 ...... 9,284,070 8,991,930 Mortgage-Backed Securities—10.9% 6.000%, 1M LIBOR + 6.000%, 08/25/36 (a) ...... 2,450,578 2,477,045 6.000%, 02/25/37 ...... 8,833,648 5,710,469 Collateralized Mortgage Obligations—6.9% 6.000%, 04/25/37 ...... 2,839,212 1,915,821 Adjustable Rate Mortgage Trust 6.000%, 07/25/37 ...... 4,234,844 2,870,566 2.846%, 11/25/35 (a) ...... 170,444 150,230 Countrywide Home Reperforming Loan REMIC Trust American Home Mortgage Investment Trust 0.432%, 1M LIBOR + 0.340%, 06/25/35 (144A) (a) ..... 942,998 903,947 0.452%, 1M LIBOR + 0.360%, 12/25/46 (a) ...... 12,910,104 12,397,022 Credit Suisse First Boston Mortgage Securities Corp. 2.171%, 6M LIBOR + 2.000%, 02/25/45 (a) ...... 184,714 186,299 0.714%, 03/25/32 (144A) (a) ...... 37,639 35,874 Banc of America Alternative Loan Trust 6.000%, 11/25/35 ...... 1,022,822 962,231 28.034%, -4 x 1M LIBOR + 28.400%, 11/25/46 (a) ..... 534,847 743,677 Credit Suisse Mortgage Trust Banc of America Funding Trust 0.242%, 10/27/36 (144A) (a) ...... 12,879,000 12,426,304 2.707%, 02/20/36 (a) ...... 963,307 965,192 Downey Savings & Loan Association Mortgage Loan Trust 2.852%, 05/25/35 (a) ...... 342,854 347,009 2.506%, 07/19/44 (a) ...... 251,197 247,401 3.348%, 01/20/47 (a) ...... 89,370 85,449 First Horizon Mortgage Pass-Through Trust Banc of America Mortgage Trust 2.861%, 08/25/35 (a) ...... 73,503 57,949 6.000%, 05/25/37 ...... 6,139,705 5,602,797

See accompanying notes to financial statements. BHFTI-315 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mortgage-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Collateralized Mortgage Obligations—(Continued) Collateralized Mortgage Obligations—(Continued) GCAT LLC RBSSP Resecuritization Trust 2.981%, 09/25/25 (144A) (h) ...... 6,823,446 $ 6,887,850 0.572%, 1M LIBOR + 0.240%, 06/27/36 (144A) (a) ..... 5,055,399 $ 4,971,978 Gemgarto plc Residential Asset Securitization Trust 0.639%, 3M SONIA + 0.590%, 12/16/67 6.000%, 06/25/36 ...... 3,021,025 1,912,061 (144A) (GBP) (a) ...... 9,324,846 12,942,657 Sequoia Mortgage Trust GreenPoint Mortgage Funding Trust 0.733%, 1M LIBOR + 0.640%, 04/19/27 (a) ...... 273,027 270,882 0.532%, 1M LIBOR + 0.440%, 06/25/45 (a) ...... 32,070 30,055 0.793%, 1M LIBOR + 0.700%, 07/20/33 (a) ...... 118,898 118,785 GSR Mortgage Loan Trust Structured Adjustable Rate Mortgage Loan Trust 2.684%, 04/25/36 (a) ...... 1,045,434 853,497 2.702%, 04/25/35 (a) ...... 2,371,640 2,259,974 2.924%, 09/25/35 (a) ...... 12,147 12,386 2.925%, 08/25/35 (a) ...... 68,025 65,548 2.927%, 01/25/36 (a) ...... 2,025,337 2,068,397 2.978%, 01/25/35 (a) ...... 338,163 342,957 6.000%, 03/25/32 ...... 67 71 3.103%, 10/25/36 (a) ...... 6,653,768 4,284,716 HarborView Mortgage Loan Trust Structured Asset Mortgage Investments II Trust 0.533%, 1M LIBOR + 0.440%, 05/19/35 (a) ...... 428,990 412,673 0.593%, 1M LIBOR + 0.500%, 07/19/35 (a) ...... 327,830 327,416 Hawksmoor Mortgages plc Towd Point Mortgage Funding 1.099%, 3M SONIA + 1.050%, 05/25/53 0.949%, 3M SONIA + 0.900%, 07/20/45 (144A) (GBP) (a) ...... 40,325,499 56,019,113 (144A) (GBP) (a) ...... 11,905,122 16,513,478 IndyMac ARM Trust Towd Point Mortgage Funding plc 1.762%, 01/25/32 (a) ...... 6,591 6,635 0.049%, 3M SONIA + 0.900%, 05/20/45 (GBP) (a) ..... 27,153,080 37,697,051 1.810%, 01/25/32 (a) ...... 390 379 1.111%, 3M GBP LIBOR + 1.025%, 10/20/51 (144A) IndyMac INDX Mortgage Loan Trust (GBP) (a) ...... 20,680,635 28,768,639 0.332%, 1M LIBOR + 0.240%, 07/25/36 (a) ...... 2,834,221 2,678,041 WaMu Mortgage Pass-Through Certificates Trust 0.512%, 1M LIBOR + 0.420%, 05/25/46 (a) ...... 4,524,570 4,408,928 0.592%, 1M LIBOR + 0.500%, 02/25/45 (a) ...... 5,003,105 5,077,792 JPMorgan Alternative Loan Trust 1.516%, 12M MTA + 1.400%, 06/25/42 (a) ...... 41,206 40,792 0.452%, 1M LIBOR + 0.360%, 05/25/36 (a) ...... 1,175,789 1,153,726 2.776%, 06/25/37 (a) ...... 4,082,999 3,973,013 JPMorgan Mortgage Trust Wells Fargo Mortgage-Backed Securities Trust 2.696%, 07/25/35 (a) ...... 463,154 480,036 2.704%, 09/25/33 (a) ...... 122,765 123,973 3.340%, 12/26/37 (144A) (a) ...... 6,863,631 6,327,133 369,276,642 5.750%, 01/25/36 ...... 214,323 145,226 Legacy Mortgage Asset Trust Commercial Mortgage-Backed Securities—4.0% 2.882%, 10/25/59 (144A) (h) ...... 13,757,822 13,856,779 1211 Avenue of the Americas Trust 3.000%, 06/25/59 (144A) (h) ...... 12,281,749 12,317,530 3.901%, 08/10/35 (144A) ...... 12,100,000 13,223,576 Lehman Mortgage Trust 225 Liberty Street Trust 0.692%, 1M LIBOR + 0.600%, 08/25/36 (a) ...... 4,343,381 3,153,264 3.597%, 02/10/36 (144A) ...... 11,600,000 12,625,137 Lehman XS Trust ACRES Commercial Realty Corp. 0.292%, 1M LIBOR + 0.200%, 03/25/47 (a) ...... 12,660,319 12,673,936 2.624%, 1M LIBOR + 2.500%, 04/17/37 (144A) (a) ..... 4,501,911 4,534,706 MASTR Alternative Loan Trust Arbor Multifamily Mortgage Securities Trust 0.492%, 1M LIBOR + 0.400%, 03/25/36 (a) ...... 615,467 33,697 2.756%, 05/15/53 (144A) ...... 7,500,000 7,956,061 6.500%, 02/25/35 ...... 3,889,594 4,226,097 AREIT Trust MASTR Asset Securitization Trust 2.744%, 1M LIBOR + 2.620%, 04/15/37 (144A) (a) ..... 6,937,539 6,976,796 6.000%, 06/25/36 ...... 216,689 185,341 Benchmark Mortgage Trust Merrill Lynch Mortgage Investors Trust 4.016%, 03/15/52 ...... 13,000,000 14,890,720 0.852%, 1M LIBOR + 0.760%, 08/25/35 (a) ...... 10,474 10,481 Commercial Mortgage Trust Metlife Securitization Trust 3.545%, 02/10/36 (144A) ...... 11,600,000 12,561,082 3.750%, 03/25/57 (144A) (a) ...... 5,706,680 5,947,234 CSAIL Commercial Mortgage Trust Mill City Mortgage Loan Trust 3.314%, 11/15/49 ...... 2,686,105 2,843,449 3.250%, 08/25/59 (144A) (a) ...... 8,400,000 8,879,354 DBGS Mortgage Trust Morgan Stanley Re-REMIC Trust 3.843%, 04/10/37 (144A) ...... 11,950,000 13,460,314 0.611%, 03/26/37 (144A) (h) ...... 1,813,565 1,792,829 DC Office Trust MortgageIT Mortgage Loan Trust 2.965%, 09/15/45 (144A) ...... 1,000,000 1,067,789 0.552%, 1M LIBOR + 0.460%, 04/25/36 (a) ...... 2,220,566 2,136,734 DOLP Trust Nomura Asset Acceptance Corp. Alternative Loan Trust 2.956%, 05/10/41 (144A) ...... 13,200,000 14,071,381 5.476%, 05/25/35 (h) ...... 736,192 488,281 Extended Stay America Trust OBX Trust 1.155%, 1M LIBOR + 1.080%, 07/15/38 (144A) (a) ..... 14,000,000 14,027,552 0.742%, 1M LIBOR + 0.650%, 06/25/57 (144A) (a) ..... 9,873,945 9,881,573 GCT Commercial Mortgage Trust 0.873%, 1M LIBOR + 0.800%, 02/15/38 (144A) (a) ..... 4,000,000 4,004,759

See accompanying notes to financial statements. BHFTI-316 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mortgage-Backed Securities—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Commercial Mortgage-Backed Securities—(Continued) Sovereign—(Continued) GS Mortgage Securities Corp. Trust Qatar Government International Bonds 2.856%, 05/10/34 (144A) ...... 8,900,000 $ 8,872,051 4.500%, 04/23/28 ...... 15,500,000 $ 18,290,000 GS Mortgage Securities Trust 5.103%, 04/23/48 ...... 1,500,000 1,991,400 3.278%, 11/10/49 (a) ...... 2,500,000 2,651,547 207,472,259 3.722%, 10/10/49 (144A) (a) ...... 13,346,000 13,957,515 JPMorgan Chase Commercial Mortgage Securities Trust Total Foreign Government 1.073%, 1M LIBOR + 1.000%, 06/15/32 (144A) (a) ..... 6,507,551 6,511,538 (Cost $240,041,988) ...... 245,277,930 1.523%, 1M LIBOR + 1.450%, 12/15/31 (144A) (a) ..... 8,836,161 8,766,805 LoanCore Issuer, Ltd. Municipals—1.0% 0.924%, 1M LIBOR + 0.800%, 07/15/35 (144A) (a) ..... 10,300,000 10,310,556 Manhattan West Mortgage Trust Chicago Transit Authority Transfer Tax Receipts Revenue 2.130%, 09/10/39 (144A) ...... 12,300,000 12,580,287 6.300%, 12/01/21 ...... 60,000 61,421 MF1 Multifamily Housing Mortgage Loan Trust City of Chicago General Obligation Unlimited 0.974%, 1M LIBOR + 0.850%, 07/15/36 (144A) (a) ..... 13,200,000 13,187,632 7.750%, 01/01/42 ...... 1,939,000 2,213,416 Morgan Stanley Bank of America Merrill Lynch Trust New Jersey Economic Development Authority, Revenue Bond 2.952%, 11/15/49 ...... 10,000,000 10,548,167 Zero Coupon, 02/15/22 ...... 6,140,000 6,129,891 Morgan Stanley Capital I Trust New York State Urban Development Corp. 2.509%, 04/05/42 (144A) (a) ...... 7,500,000 7,719,650 1.346%, 03/15/26 ...... 8,100,000 8,181,040 Sales Tax Securitization Corp. 217,349,070 3.007%, 01/01/33 ...... 10,100,000 10,676,308 Total Mortgage-Backed Securities 3.057%, 01/01/34 ...... 2,000,000 2,113,143 (Cost $568,001,738) ...... 586,625,712 State Board of Administration Finance Corp. 1.258%, 07/01/25 ...... 12,800,000 12,922,984 State of Illinois General Obligation Unlimited, Build America Foreign Government—4.5% Bond 6.725%, 04/01/35 ...... 5,720,000 7,204,143 Provincial—0.4% Tobacco Settlement Finance Authority Province of Ontario Canada 1.820%, 06/01/26 ...... 2,250,000 2,272,341 3.150%, 06/02/22 (CAD) ...... 9,300,000 7,698,309 Province of Quebec Canada Total Municipals 3.500%, 12/01/22 (CAD) ...... 3,300,000 2,777,633 (Cost $49,342,496) ...... 51,774,687 4.250%, 12/01/21 (CAD) ...... 15,200,000 12,463,485 22,939,427 Preferred Stock—0.8%

Regional Government—0.3% Wireless Telecommunication Services—0.8% Japan Finance Organization for Municipalities AT&T Mobility II LLC, 7.000% † (i) (j) 3.375%, 09/27/23 (144A) ...... 14,000,000 14,866,244 (Cost $44,469,020) ...... 1,644,083 43,509,269

Sovereign—3.8% Brazil Letras do Tesouro Nacional Floating Rate Loans (k)—0.3% 3.224%, 10/01/21 (BRL) (I) ...... 518,300,000 102,948,399 4.038%, 01/01/22 (BRL) (I) ...... 29,900,000 5,845,436 Investment Companies—0.2% Israel Government International Bond Castlelake L.P. 2.750%, 07/03/30 ...... 14,500,000 15,477,445 First Lien Term Loan, 3.099%, 3M LIBOR + Ivory Coast Government International Bond 2.950%, 05/13/31 (i) (j) ...... 8,700,000 8,728,818 5.875%, 10/17/31 (144A) (EUR) ...... 4,900,000 6,245,358 Japan Bank for International Cooperation Media—0.1% 2.875%, 07/21/27 ...... 11,200,000 12,233,735 CSC Holdings, LLC Term Loan B5, 2.573%, 1M LIBOR + 2.500%, 04/15/27 . . 5,265,844 5,225,802 Kuwait International Government Bond 2.750%, 03/20/22 ...... 7,000,000 7,120,512 Total Floating Rate Loans Peruvian Government International Bonds (Cost $13,932,106) ...... 13,954,620 5.940%, 02/12/29 (PEN) ...... 23,200,000 6,587,593 6.350%, 08/12/28 (PEN) ...... 71,800,000 20,852,220 6.950%, 08/12/31 (PEN) ...... 7,000,000 2,041,396 8.200%, 08/12/26 (PEN) ...... 24,300,000 7,838,765

See accompanying notes to financial statements. BHFTI-317 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Short-Term Investments—13.9%

Principal * Principal and notional amounts stated in U.S. dollars unless otherwise noted. Security Description Amount* Value † 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 Discount Notes—0.5% exempt from registration or to the public if the securities are subsequently registered. Federal Home Loan Bank Disposal of these securities may involve time-consuming negotiations and prompt sale 0.010%, 08/25/21 (l) ...... 7,700,000 $ 7,699,529 at an acceptable price may be difficult. As of June 30, 2021, the market value of 0.014%, 08/06/21 (l) ...... 9,100,000 9,099,636 restricted securities was $45,121,753, which is 0.8% of net assets. See details shown in 0.015%, 08/04/21 (l) ...... 12,600,000 12,599,524 the Restricted Securities table that follows. (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 29,398,689 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 Repurchase Agreements—1.3% indicated in the description above. For certain variable rate securities, the coupon rate is Fixed Income Clearing Corp. determined by the issuer/agent based on current market conditions. For certain asset- Repurchase Agreement dated 06/30/21 at 0.000%, due on 07/01/21 with a maturity value of $7,581,030; and mortgage-backed securities, the coupon rate may fluctuate based on changes of the collateralized by U.S. Treasury Note at 0.375%, maturing underlying collateral or prepayments of principal. These securities do not indicate a 04/15/24, with a market value of $7,732,750...... 7,581,030 7,581,030 reference index and spread in their description above. JPMorgan Securities, LLC (b) Interest only security. Repurchase Agreement dated 06/30/21 at 0.030%, due on (c) TBA (To Be Announced) Securities are purchased on a forward commitment basis with 07/01/21 with a maturity value of 64,700,054; an approximate principal amount and no defined maturity date. The actual principal collateralized by U.S. Treasury Note at 0.125%, maturing and maturity date will be determined upon settlement date. 10/31/22, with a market value of $65,997,369...... 64,700,000 64,700,000 (d) All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of June 30, 2021, the market value of securities pledged was 72,281,030 $44,688,555. (e) All or a portion of the security was pledged as collateral against open futures contracts. U.S. Treasury—12.1% As of June 30, 2021, the market value of securities pledged was $10,426,367. U.S. Treasury Bills (f) Non-income producing; security is in default and/or issuer is in bankruptcy. 0.010%, 07/01/21 (l) ...... 19,100,000 19,100,000 (g) Perpetual bond with no specified maturity date. 0.011%, 07/27/21 (l) ...... 12,800,000 12,799,573 (h) Security is a “step-up” bond where coupon increases or steps up at a predetermined 0.015%, 08/12/21 (e) (l) (m) ...... 11,700,000 11,699,215 date. Rate shown is current coupon rate. 0.015%, 08/26/21 (l) ...... 32,500,000 32,497,750 (i) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. 0.021%, 08/03/21 (e) (l) (m) ...... 12,300,000 12,299,472 Level 3. 0.025%, 09/09/21 (l) ...... 18,100,000 18,098,328 (j) Security was valued in good faith under procedures approved by the Board of Trustees. 0.032%, 11/26/21 (l) ...... 15,400,000 15,396,961 As of June 30, 2021, these securities represent 1.0% of net assets. 0.037%, 08/24/21 (l) ...... 14,600,000 14,599,015 (k) Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows 0.038%, 12/09/21 (d) (e) (l) (m) ...... 3,100,000 3,099,284 or permit the borrowers to repay at their election. The degree to which borrowers repay, 0.043%, 09/30/21 (l) ...... 77,100,000 77,089,768 whether as a contractual requirement or at their election, cannot be predicted with 0.055%, 09/16/21 (e) (l) ...... 120,800,000 120,788,373 accuracy. As a result, the actual remaining maturity may be substantially less than the U.S. Treasury Cash Management Bills 0.020%, 09/14/21 (l) ...... 27,000,000 26,997,469 stated maturities shown. However, Senior Loans will generally have an expected 0.020%, 09/28/21 (l) ...... 264,200,000 264,173,873 average life of approximately two to four years. Senior Loans typically have rates of 0.031%, 10/05/21 (l) ...... 26,100,000 26,096,868 interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the London Interbank Offered Rate and 654,735,949 secondarily, the prime rate offered by one or more major United States banks. Base Total Short-Term Investments lending rates may be subject to a floor, or a minimum rate. (Cost $756,436,284) ...... 756,415,668 (l) The rate shown represents current yield to maturity. (m) All or a portion of the security was pledged as collateral against open OTC swap Total Purchased Options—0.0% (n) contracts, OTC option contracts and forward foreign currency exchange contracts. As of (Cost $1,722,972) ...... 1,087,009 June 30, 2021, the market value of securities pledged was $14,188,187. Total Investments—113.3% (n) For a breakout of open positions, see details shown in the Purchased Options table that (Cost $5,950,558,635) ...... 6,121,549,310 follows. Other assets and liabilities (net)—(13.3)% ...... (720,689,178) (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Net Assets—100.0% ...... $5,400,860,132 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2021, the market value of 144A securities was $1,330,761,652, which is 24.6% of net assets.

Shares/ Acquisition Principal Restricted Securities Date Amount Cost Value AT&T Mobility II LLC, , 7.000%, ...... 09/24/20 1,644,083 $44,469,020 $43,509,269 British Airways Pass-Through Trust, 4.125%, 09/20/31 ...... 10/01/19 1,585,935 1,681,092 1,612,484 $45,121,753

See accompanying notes to financial statements. BHFTI-318 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) TBA Forward Sale Commitments Interest Face Security Description Rate Maturity Amount Cost Value Uniform Mortgage-Backed Securities 30 Yr. Pool ...... 2.000% TBA $(22,530,000) $ (22,749,534) $ (23,029,364) Uniform Mortgage-Backed Securities 30 Yr. Pool ...... 4.000% TBA (80,000,000) (85,446,875) (85,187,500) Totals ...... $(108,196,409) $(108,216,864)

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) BRL 158,231,959 CBNA ...... 07/02/21 USD 29,665,062 $ 2,148,030 BRL 158,231,959 GSBU ...... 07/02/21 USD 31,632,473 180,619 BRL 158,231,959 GSBU ...... 08/03/21 USD 31,316,937 388,262 CAD 32,816,000 BBP ...... 07/02/21 USD 27,240,289 (767,233) CAD 28,813,878 CBNA ...... 07/02/21 USD 23,429,565 (185,068) CLP 13,098,298,691 CBNA ...... 09/07/21 USD 18,208,014 (403,656) DKK 2,891,444 CBNA ...... 07/01/21 USD 458,556 2,507 EUR 910,000 BBP ...... 08/17/21 USD 1,103,973 (23,932) EUR 1,775,000 GSBU ...... 08/17/21 USD 2,121,105 (14,431) EUR 2,405,000 JPMC ...... 08/17/21 USD 2,874,234 (19,839) EUR 8,156,000 JPMC ...... 08/17/21 USD 9,983,614 (303,597) EUR 845,000 UBSA ...... 08/17/21 USD 1,030,432 (27,536) GBP 1,350,000 JPMC ...... 08/17/21 USD 1,906,457 (38,787) MXN 474,817,000 GSBU ...... 09/03/21 USD 22,598,173 1,037,704 MYR 1,437,265 GSBU ...... 09/15/21 USD 346,454 (1,302) PEN 27,163,183 CBNA ...... 07/08/21 USD 6,839,183 218,677 PEN 16,140,384 CBNA ...... 07/13/21 USD 4,185,676 9,901 RUB 224,000 GSBU ...... 07/22/21 USD 2,902 152 RUB 223,964 GSBU ...... 08/20/21 USD 2,989 51 RUB 224,000 GSBU ...... 09/20/21 USD 3,053 (27)

Contracts to Deliver BRL 158,231,959 CBNA ...... 07/02/21 USD 31,632,473 (180,619) BRL 158,231,959 GSBU ...... 07/02/21 USD 31,417,047 (396,045) BRL 270,000,000 JPMC ...... 10/04/21 USD 47,472,527 (6,192,069) BRL 110,400,000 JPMC ...... 10/04/21 USD 19,410,989 (2,531,868) BRL 54,200,000 JPMC ...... 10/04/21 USD 9,637,166 (1,135,505) BRL 32,500,000 JPMC ...... 10/04/21 USD 5,787,037 (672,590) BRL 29,500,000 JPMC ...... 10/04/21 USD 5,216,622 (646,732) BRL 21,700,000 JPMC ...... 10/04/21 USD 3,850,795 (462,249) BRL 29,900,000 JPMC ...... 01/04/22 USD 5,230,473 (625,362) CAD 61,629,878 BNP ...... 07/02/21 USD 51,011,028 1,293,476 CAD 28,813,878 CBNA ...... 08/03/21 USD 23,429,319 185,197 EUR 101,070,000 GSBU ...... 08/17/21 USD 122,667,638 2,711,859 EUR 11,997,000 JPMC ...... 08/17/21 USD 14,286,781 48,041 GBP 141,092,000 BNP ...... 08/17/21 USD 198,585,664 3,390,666 JPY 309,100,000 JPMC ...... 08/17/21 USD 2,820,874 37,522 KRW 167,742,730 BNP ...... 09/15/21 USD 150,527 1,617 PEN 27,163,183 CBNA ...... 07/08/21 USD 7,483,589 425,729 PEN 16,140,384 CBNA ...... 07/13/21 USD 4,286,158 90,581 PEN 16,140,384 CBNA ...... 07/19/21 USD 4,187,739 (10,129) PEN 27,163,183 CBNA ...... 07/22/21 USD 6,842,112 (224,549) PEN 9,642,423 BNP ...... 08/04/21 USD 2,611,000 99,841 PEN 3,445,879 BNP ...... 08/04/21 USD 933,463 36,059 PEN 8,440,445 CBNA ...... 08/04/21 USD 2,322,249 124,118 PEN 20,672,852 CBNA ...... 09/02/21 USD 5,465,683 78,410 PEN 43,078,227 GSBU ...... 09/07/21 USD 11,711,928 486,235 PEN 3,891,605 CBNA ...... 09/20/21 USD 1,049,000 34,973 PEN 7,332,581 GSBU ...... 11/12/21 USD 1,956,242 46,708 PEN 13,145,475 CBNA ...... 12/09/21 USD 3,576,124 153,974 SEK 1,040,000 BNP ...... 08/17/21 USD 124,486 2,913 Net Unrealized Depreciation ...... $(1,629,303)

See accompanying notes to financial statements. BHFTI-319 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) U.S. Treasury Note 10 Year Futures ...... 09/21/21 8,389 USD 1,111,542,500 $ 5,721,953 U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 109 USD 21,002,938 930,793

Futures Contracts—Short Euro-Bund 10 Year Futures ...... 09/08/21 (43) EUR (7,422,230) (53,586) Euro-Buxl 30 Year Bond Futures ...... 09/08/21 (106) EUR (21,543,440) (450,089) U.S. Treasury Long Bond Futures ...... 09/21/21 (486) USD (78,124,500) (2,360,448) U.S. Treasury Note 5 Year Futures ...... 09/30/21 (440) USD (54,309,063) 123,169 Net Unrealized Appreciation ...... $3,911,792

Purchased Options Pay/ Receive Unrealized Strike Floating Rate Floating Expiration Number of Notional Premiums Market Appreciation/ Interest Rate Swaptions Rate Counterparty Index Rate Date Contracts Amount Paid Value (Depreciation) Put-OTC-30Yr.IRS ...... 0.900% GSBU 1M SONIA Receive 03/15/22 15,600,000 GBP 15,600,000 $1,648,831 $1,038,718 $(610,113)

Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ OTC Options on Securities Counterparty Price Date Contracts Amount Paid Value (Depreciation) Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 103.234 08/05/21 13,000,000 USD 13,000,000 $74,141 $48,291 $(25,850)

Written Options

Pay/ Receive Unrealized Strike Floating Rate Floating Expiration Number of Notional Premiums Market Appreciation/ Interest Rate Swaptions Rate Counterparty Index Rate Date Contracts Amount Received Value (Depreciation) Put - OTC-10 Yr. IRS ...... 0.800% GSBU 1M SONIA Pay 03/15/22 (42,100,000) GBP (42,100,000) $(1,600,372) $(1,091,313) $509,059

Unrealized Strike Expiration Number of Notional Premiums Market Appreciation/ OTC Options on Securities Counterparty Price Date Contracts Amount Received Value (Depreciation) Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... JPMC USD 101.313 09/07/21 (24,000,000) USD (24,000,000) $ (75,000) $ (97,308) $(22,308) Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... GSC USD101.023 09/07/21 (19,000,000) USD (19,000,000) (83,125) (103,645) (20,520) Call - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... GSC USD101.367 08/05/21 (16,000,000) USD (16,000,000) (53,125) (44,766) 8,359 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.000%, TBA ...... GSC USD 99.023 09/07/21 (19,000,000) USD (19,000,000) (118,750) (68,733) 50,017 Put - Uniform Mortgage-Backed Securities 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 102.234 08/05/21 (26,000,000) USD (26,000,000) (81,250) (35,961) 45,289 Put - Ginnie Mae II 30 Yr. Pool, 2.500%, TBA ...... JPMC USD 102.234 08/12/21 (13,000,000) USD (13,000,000) (41,641) (21,213) 20,428 Total ...... $(452,891) $(371,626) $ 81,265

See accompanying notes to financial statements. BHFTI-320 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Swap Agreements Centrally Cleared Interest Rate Swaps Upfront Unrealized Pay/Receive Floating Payment Fixed Payment Maturity Notional Market Premiums Appreciation/ Floating Rate Rate Index Frequency Rate Frequency Date Amount Value Paid/(Received) (Depreciation) Pay ...... 1DayCDI Maturity 3.345% Maturity 01/03/22 BRL 20,000,000 $ (34,404) $ 1,490 $ (35,894) Pay ...... 1DayCDI Maturity 3.350% Maturity 01/03/22 BRL 508,000,000 (863,665) 39,142 (902,807) Pay ...... 1DayCDI Maturity 3.360% Maturity 01/03/22 BRL 2,382,100,000 (2,099,110) 1,221,974 (3,321,084) Pay ...... 1DayCDI Maturity 3.700% Maturity 01/03/22 BRL 477,800,000 (668,519) (57,300) (611,219) Pay ...... 1DayCDI Maturity 3.978% Maturity 01/03/22 BRL 196,200,000 (211,564) — (211,564) Pay ...... 3MCDOR Semi-Annually 1.235% Semi-Annually 03/04/25 CAD 20,700,000 (2,396) 266,894 (269,290) Pay ...... 3MLIBOR Quarterly 2.800% Semi-Annually 08/22/23 USD 51,400,000 2,693,258 2,851,989 (158,731) Pay ...... 6MLIBOR Semi-Annually 0.100% Semi-Annually 03/20/24 JPY 11,440,000,000 347,036 474,862 (127,826) Pay ...... 6MLIBOR Semi-Annually 0.380% Semi-Annually 06/18/28 JPY 8,820,000,000 1,984,903 2,203,694 (218,791) Receive ...... 1DayCDI Maturity 2.850% Maturity 01/03/22 BRL 187,600,000 468,450 (79,561) 548,011 Receive ...... 1DayCDI Maturity 2.859% Maturity 01/03/22 BRL 126,000,000 308,624 38,626 269,998 Receive ...... 1DayCDI Maturity 2.860% Maturity 01/03/22 BRL 83,200,000 207,987 27,642 180,345 Receive ...... 1DayCDI Maturity 2.860% Maturity 01/03/22 BRL 68,600,000 170,983 22,543 148,440 Receive ...... 1DayCDI Maturity 2.870% Maturity 01/03/22 BRL 41,700,000 102,203 12,813 89,390 Receive ...... 1DayCDI Maturity 2.871% Maturity 01/03/22 BRL 68,000,000 166,090 20,601 145,489 Receive ...... 1DayCDI Maturity 2.883% Maturity 01/03/22 BRL 47,000,000 112,634 13,088 99,546 Receive ...... 12MSONIA Annually 0.750% Annually 09/15/51 GBP 79,700,000 2,341,467 3,858,605 (1,517,138) Receive ...... 6MLIBOR Semi-Annually 0.300% Semi-Annually 03/18/26 JPY 300,000,000 (39,540) (45,742) 6,202 Receive ...... 6MLIBOR Semi-Annually 0.300% Semi-Annually 09/20/27 JPY 6,210,000,000 (1,012,592) (1,148,408) 135,816 Receive ...... 6MLIBOR Semi-Annually 0.350% Semi-Annually 03/17/51 JPY 608,000,000 245,585 332,154 (86,569) Receive ...... 6MLIBOR Semi-Annually 0.450% Semi-Annually 03/20/29 JPY 2,390,000,000 (688,283) (752,637) 64,354 Receive ...... 6MLIBOR Semi-Annually 0.520% Semi-Annually 03/16/51 JPY 542,000,000 (17,857) — (17,857) Receive ...... 6MLIBOR Semi-Annually 0.538% Semi-Annually 03/15/51 JPY 1,658,910,000 (129,411) (15,999) (113,412) Receive ...... 6MLIBOR Semi-Annually 0.557% Semi-Annually 03/17/51 JPY 1,830,000,000 (233,037) — (233,037) Receive ...... 6MLIBOR Semi-Annually 0.570% Semi-Annually 03/19/51 JPY 589,000,000 (95,435) — (95,435) Receive ...... 6MLIBOR Semi-Annually 0.572% Semi-Annually 04/07/51 JPY 260,000,000 (42,918) — (42,918) Receive ...... 6MLIBOR Semi-Annually 0.785% Semi-Annually 11/12/38 JPY 870,000,000 (675,309) (695,869) 20,560 Receive ...... 6MLIBOR Semi-Annually 0.800% Semi-Annually 10/22/38 JPY 570,000,000 (455,679) (469,745) 14,066 Totals ...... $1,879,501 $ 8,120,856 $(6,241,355)

Centrally Cleared Credit Default Swaps on Credit Indices—Buy Protection (a) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premiums Appreciation/ Reference Obligation (Pay) Rate Frequency Date 2021(b) Amount(c) Value Paid/(Received) (Depreciation) CDX.NA.HY.35.V1 ...... (5.000%) Quarterly 12/20/25 2.547% USD 4,100,000 $ (415,281) $ (329,422) $ (85,859) CDX.NA.HY.36 V1 ...... (5.000%) Quarterly 06/20/26 2.735% USD 7,800,000 (795,896) (716,022) (79,874) Totals ...... $(1,211,177) $(1,045,444) $(165,733)

Centrally Cleared Credit Default Swaps on Credit Indices and Corporate Issues—Sell Protection (d) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premiums Appreciation/ Reference Obligation Receive Rate Frequency Date 2021(b) Amount(c) Value Paid/(Received) (Depreciation) CDX.NA.IG.35.V1 ...... 1.000% Quarterly 12/20/25 0.427% USD 11,600,000 $ 292,552 $ 240,351 $ 52,201 CDX.NA.IG.36.V1 ...... 1.000% Quarterly 06/20/26 0.478% USD 58,300,000 1,480,528 1,294,642 185,886 General Electric Co. 2.700%, due 10/09/22 .... 1.000% Quarterly 12/20/23 0.360% USD 4,800,000 76,090 58,216 17,874 General Electric Co. 2.700%, due 10/09/22 .... 1.000% Quarterly 06/20/24 0.418% USD 2,900,000 50,045 34,493 15,552 General Electric Co. 2.700%, due 10/09/22 .... 1.000% Quarterly 06/20/26 0.710% USD 4,700,000 65,560 49,570 15,990 ITRX.EUR.34.V1 ...... 1.000% Quarterly 12/20/25 0.396% EUR 49,200,000 1,590,377 1,320,738 269,639 ITRX.EUR.35.V1 ...... 1.000% Quarterly 06/20/26 0.468% EUR 57,000,000 1,794,590 1,666,599 127,991 ITRX.EUR.XOVER 35.V1 ...... 5.000% Quarterly 06/20/26 2.318% EUR 99,700,000 14,660,610 12,881,148 1,779,462 Rolls Royce plc 2.125%, due 06/18/21 ...... 1.000% Quarterly 06/20/24 1.770% EUR 6,200,000 (164,478) (360,710) 196,232

See accompanying notes to financial statements. BHFTI-321 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Centrally Cleared Credit Default Swaps on Credit Indices and Corporate Issues—Sell Protection (d)—(Continued) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premiums Appreciation/ Reference Obligation Receive Rate Frequency Date 2021(b) Amount(c) Value Paid/(Received) (Depreciation) Rolls Royce plc 2.125%, due 06/18/21 ...... 1.000% Quarterly 12/20/24 1.921% EUR 5,000,000 $ (183,382) $ (365,727) $ 182,345 Tesco plc 6.000%, due 12/14/29 ...... 1.000% Quarterly 06/20/22 0.142% EUR 12,900,000 129,696 123,837 5,859 Totals ...... $19,792,188 $16,943,157 $2,849,031

OTC Credit Default Swaps on Sovereign Issues—Sell Protection (d) Implied Credit Spread Upfront Unrealized Fixed Deal Payment Maturity at June 30, Notional Market Premium Appreciation/ Reference Obligation Receive Rate Frequency Date Counterparty 2021(b) Amount(c) Value Paid/(Received) (Depreciation) Republic of South Africa 5.500%, due 03/09/20 ...... 1.000% Quarterly 06/20/24 GSI 1.204% USD 14,280,000 $(85,835) $(338,010) $252,175 Russian Federation 7.500%, due 03/31/30 ...... 1.000% Quarterly 12/20/24 GSI 0.579% USD 11,900,000 173,485 51,061 122,424 Russian Federation 7.500%, due 03/31/30 ...... 1.000% Quarterly 12/20/24 JPMC 0.579% USD 300,000 4,373 987 3,386 Totals ...... $92,023 $(285,962) $377,985

(a) If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. (b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation. (c) The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation. (d) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

Glossary of Abbreviations

Counterparties (BBP)— Barclays Bank plc (GSBU)— Goldman Sachs Bank USA (JPMC)— JPMorgan Chase Bank N.A. (BNP)— BNP Paribas S.A. (GSC)— Goldman Sachs & Co. (UBSA)— UBS AG (CBNA)— Citibank N.A. (GSI)— Goldman Sachs International

Currencies (BRL)— Brazilian Real (GBP)— British Pound (PEN)— Peruvian Nuevo Sol (CAD)— Canadian Dollar (JPY)— Japanese Yen (RUB)— Russian Ruble (CLP)— Chilean Peso (KRW)— South Korean Won (SEK)— Swedish Krona (DKK)— Danish Krone (MXN)— Mexican Peso (USD)— United States Dollar (EUR)— Euro (MYR)— Malaysian Ringgit

See accompanying notes to financial statements. BHFTI-322 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations—(Continued)

Index Abbreviations (CDI)— Brazil Interbank Deposit Rate (EURIBOR)— Euro InterBank Offered Rate (LIBOR)— London Interbank Offered Rate (CDOR)— Canadian Dollar Offered Rate (H15)— U.S. Treasury Yield Curve Rate T-Note (MTA)— Monthly Treasury Average Index (CDX.NA.HY)— Markit North America High Yield CDS Index Constant Maturity Index (PRIME)— U.S. Federal Reserve Prime Rate (CDX.NA.IG)— Markit North America Investment Grade (ITRX.EUR)— Markit iTraxx Europe CDS Index (SOFR)— Secured Overnight Financing Rate CDS Index (ITRX.EUR.XOVER)— Markit iTraxx Europe Crossover CDS (SONIA)—Sterling Overnight Index Average Deposit Rate (COFI)— 11th District Cost of Fund Index Index (UKG)— United Kingdom Gilts

Other Abbreviations (ACES)— Alternative Credit Enhancement Securities (CLO)— Collateralized Loan Obligation (IRS)— Interest Rate Swap (ARM)— Adjustable-Rate Mortgage (CMO)— Collateralized Mortgage Obligation (REMIC)— Real Estate Mortgage Investment Conduit

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $— $2,060,489,130 $ — $2,060,489,130 Total Corporate Bonds & Notes* ...... — 1,730,177,402 — 1,730,177,402 Total Asset-Backed Securities* ...... — 632,237,883 — 632,237,883 Total Mortgage-Backed Securities* ...... — 586,625,712 — 586,625,712 Total Foreign Government* ...... — 245,277,930 — 245,277,930 Total Municipals* ...... — 51,774,687 — 51,774,687 Total Preferred Stock* ...... — — 43,509,269 43,509,269 Floating Rate Loans Investment Companies ...... — — 8,728,818 8,728,818 Media ...... — 5,225,802 — 5,225,802 Total Floating Rate Loans ...... — 5,225,802 8,728,818 13,954,620 Total Short-Term Investments* ...... — 756,415,668 — 756,415,668 Purchased Options Interest Rate Swaptions at Value ...... — 1,038,718 — 1,038,718 OTC Options on Securities at Value ...... — 48,291 — 48,291 Total Purchased Options ...... — 1,087,009 — 1,087,009 Total Investments ...... $— $6,069,311,223 $52,238,087 $6,121,549,310 TBA Forward Sales Commitments ...... $— $(108,216,864) $ — $ (108,216,864) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $— $ 13,233,822 $ — $ 13,233,822 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (14,863,125) — (14,863,125) Total Forward Contracts ...... $— $ (1,629,303) $ — $ (1,629,303)

See accompanying notes to financial statements. BHFTI-323 Brighthouse Funds Trust I PIMCO Total Return Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued)

Description Level 1 Level 2 Level 3 Total Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $6,775,915 $ — $— $ 6,775,915 Futures Contracts (Unrealized Depreciation) ...... (2,864,123) — — (2,864,123) Total Futures Contracts ...... $3,911,792 $ — $— $ 3,911,792 Written Options Interest Rate Swaptions at Value ...... $ — $(1,091,313) $— $(1,091,313) OTC Options on Securities at Value ...... — (371,626) — (371,626) Total Written Options ...... $ — $(1,462,939) $— $(1,462,939) Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $4,571,248 $— $ 4,571,248 Centrally Cleared Swap Contracts (Unrealized Depreciation) ...... — (8,129,305) — (8,129,305) Total Centrally Cleared Swap Contracts ...... $ — $(3,558,057) $— $(3,558,057) OTC Swap Contracts OTC Swap Contracts at Value (Assets) ...... $ — $ 177,858 $— $ 177,858 OTC Swap Contracts at Value (Liabilities) ...... — (85,835) — (85,835) Total OTC Swap Contracts ...... $ — $ 92,023 $— $ 92,023

* 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 June 30, 2021 is not presented.

See accompanying notes to financial statements. BHFTI-324 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—43.6% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.3% Automobiles—(Continued) Airbus SE (a) ...... 4,048 $ 521,303 Suzuki Motor Corp...... 4,400 $ 186,106 Babcock International Group plc (a) ...... 16,888 67,770 Tesla, Inc. (a) ...... 5,799 3,941,580 BAE Systems plc ...... 30,712 222,035 Toyota Motor Corp...... 17,500 1,527,708 Boeing Co. (The) (a) ...... 3,405 815,702 Yadea Group Holdings, Ltd...... 36,000 77,434 Curtiss-Wright Corp...... 1,108 131,586 Yamaha Motor Co., Ltd...... 7,300 198,345 General Dynamics Corp...... 2,783 523,928 11,652,675 HEICO Corp...... 738 102,892 L3Harris Technologies, Inc...... 1,686 364,429 Banks—2.6% Lockheed Martin Corp...... 1,481 560,336 ABN AMRO Bank NV (a) ...... 12,775 154,211 plc (a) ...... 8,628 55,168 Australia & New Zealand Banking Group, Ltd...... 30,061 633,225 Moog, Inc. - Class A ...... 659 55,395 Banco Bilbao Vizcaya Argentaria S.A. (a) ...... 20,347 126,586 Northrop Grumman Corp...... 1,023 371,789 Banco Santander S.A. (a) ...... 205,501 783,509 Raytheon Technologies Corp...... 10,452 891,660 Bank of America Corp...... 64,992 2,679,620 Safran S.A...... 2,293 318,141 Bank of Kyoto, Ltd. (The) ...... 1,500 67,792 TransDigm Group, Inc. (a) (b) ...... 503 325,587 Bank of Montreal ...... 7,709 790,179 Holdings plc ...... 3,814 120,925 Bank of Nova Scotia (The) ...... 10,185 662,403 5,448,646 Bank OZK (b) ...... 3,341 140,856 Barclays plc ...... 343,669 815,089 Air Freight & Logistics—0.3% BNP Paribas S.A...... 15,727 984,889 Atlas Air Worldwide Holdings, Inc. (a) ...... 932 63,479 Citigroup, Inc...... 22,751 1,609,633 DSV Panalpina A/S ...... 3,602 839,826 Commonwealth Bank of Australia ...... 14,103 1,054,666 FedEx Corp...... 2,575 768,200 Danske Bank A/S ...... 5,258 92,436 InPost S.A. (a) ...... 4,102 82,412 Erste Group Bank AG ...... 12,331 452,020 Royal Mail plc (a) ...... 16,226 129,769 Fifth Third Bancorp ...... 6,931 264,972 United Parcel Service, Inc. - Class B ...... 9,130 1,898,766 First BanCorp/Puerto Rico ...... 9,151 109,080 XPO Logistics, Inc. (a) ...... 3,902 545,851 First Republic Bank ...... 15,158 2,837,123 4,328,303 Hang Seng Bank, Ltd...... 7,900 157,717 HSBC Holdings plc ...... 222,705 1,285,186 Airlines—0.1% HSBC Holdings plc (Hong Kong Traded Shares) ...... 32,000 184,412 Southwest Airlines Co. (a) ...... 27,197 1,443,889 Huntington Bancshares, Inc...... 18,845 268,918 ING Groep NV ...... 70,462 932,189 Auto Components—0.1% Intesa Sanpaolo S.p.A...... 159,846 441,184 Aisin Corp...... 5,300 226,542 Japan Post Bank Co., Ltd...... 9,800 82,085 BorgWarner, Inc...... 3,585 174,016 JPMorgan Chase & Co...... 55,952 8,702,774 Faurecia SE ...... 3,795 186,383 KeyCorp ...... 6,896 142,402 Gentex Corp...... 7,717 255,356 Lloyds Banking Group plc (a) ...... 995,922 644,272 JTEKT Corp...... 8,400 86,075 Mitsubishi UFJ Financial Group, Inc...... 220,100 1,188,178 Lear Corp...... 795 139,348 Mizuho Financial Group, Inc...... 51,190 721,299 Magna International, Inc...... 2,494 230,910 National Australia Bank, Ltd...... 31,753 623,234 NGK Spark Plug Co., Ltd...... 7,200 106,631 Natwest Group plc ...... 79,143 222,383 Sumitomo Electric Industries, Ltd...... 11,000 162,210 Nordea Bank Abp ...... 25,192 280,305 Sumitomo Rubber Industries, Ltd...... 6,600 91,043 Oversea-Chinese Banking Corp., Ltd...... 28,100 249,913 Toyo Tire Corp...... 3,500 73,943 PNC Financial Services Group, Inc. (The) ...... 5,059 965,055 Powszechna Kasa Oszczednosci Bank Polski S.A. (a) ...... 6,717 66,667 1,732,457 Raiffeisen Bank International AG ...... 4,975 112,568 Regions Financial Corp...... 7,600 153,368 Automobiles—0.7% Resona Holdings, Inc...... 22,100 84,722 Bayerische Motoren Werke AG ...... 1,671 177,018 Royal Bank of Canada ...... 9,392 951,550 Daimler AG ...... 14,860 1,327,448 Societe Generale S.A...... 16,845 496,030 Ford Motor Co. (a) ...... 98,180 1,458,955 Standard Chartered plc ...... 84,339 537,367 General Motors Co. (a) ...... 10,685 632,231 Sumitomo Mitsui Financial Group, Inc...... 9,900 340,706 Honda Motor Co., Ltd...... 34,500 1,106,053 Toronto-Dominion Bank (The) ...... 14,404 1,009,419 Isuzu Motors, Ltd...... 15,900 210,893 Truist Financial Corp...... 19,237 1,067,653 Kia Corp...... 2,512 199,916 U.S. Bancorp ...... 37,656 2,145,262 Mazda Motor Corp. (a) ...... 19,700 185,037 UniCredit S.p.A...... 39,027 459,927 Stellantis NV (Milan-Traded Shares) ...... 15,691 309,578 United Overseas Bank, Ltd...... 11,500 221,150 Subaru Corp...... 5,800 114,373 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-325 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Banks—(Continued) Capital Markets—1.9% Wells Fargo & Co...... 38,679 $ 1,751,772 Affiliated Managers Group, Inc...... 1,269 $ 195,693 Westpac Banking Corp...... 31,426 605,579 Ameriprise Financial, Inc. (b) ...... 2,108 524,639 Anima Holding S.p.A...... 12,738 63,482 41,353,535 Artisan Partners Asset Management, Inc. - Class A ...... 2,726 138,535 Bank of New York Mellon Corp. (The) ...... 15,802 809,536 Beverages—0.7% BlackRock, Inc...... 4,812 4,210,356 Anheuser-Busch InBev S.A...... 6,322 455,274 Blackstone Group, Inc. (The) (b) ...... 5,094 494,831 Boston Beer Co., Inc. (The) - Class A (a) ...... 123 125,558 Brookfield Asset Management Reinsurance Partners, Ltd. (a) ...... 80 4,246 Britvic plc ...... 9,207 119,453 Brookfield Asset Management, Inc. - Class A ...... 11,652 594,444 Coca-Cola Co. (The) ...... 54,775 2,963,875 Charles Schwab Corp. (The) ...... 20,197 1,470,544 Diageo plc ...... 41,654 1,996,206 CI Financial Corp...... 10,349 189,932 Monster Beverage Corp. (a) ...... 7,747 707,689 CME Group, Inc...... 2,280 484,910 PepsiCo, Inc...... 28,609 4,238,996 Credit Suisse Group AG ...... 65,138 681,749 10,607,051 Daiwa Securities Group, Inc...... 33,900 185,527 Deutsche Bank AG (a) ...... 31,604 411,687 Biotechnology—0.8% Euronext NV ...... 4,107 446,788 AbbVie, Inc...... 24,376 2,745,713 Evercore, Inc. - Class A ...... 795 111,912 Alexion Pharmaceuticals, Inc. (a) ...... 2,229 409,490 FactSet Research Systems, Inc...... 1,346 451,731 Alnylam Pharmaceuticals, Inc. (a) (b) ...... 1,364 231,225 Federated Hermes, Inc...... 8,376 284,030 Amgen, Inc...... 8,862 2,160,112 Franklin Resources, Inc...... 5,870 187,781 Biogen, Inc. (a) ...... 1,072 371,201 Goldman Sachs Group, Inc. (The) ...... 2,177 826,237 BioNTech SE (ADR) (a) ...... 1,192 266,865 Hamilton Lane, Inc. - Class A ...... 1,193 108,706 CSL, Ltd...... 3,206 685,852 Hong Kong Exchanges & Clearing, Ltd...... 11,400 679,510 Exact Sciences Corp. (a) (b) ...... 1,397 173,661 Houlihan Lokey, Inc...... 2,263 185,091 IG Group Holdings plc ...... 14,248 166,833 Genmab A/S (ADR) (a) ...... 6,395 261,108 Intercontinental Exchange, Inc...... 4,386 520,618 Gilead Sciences, Inc...... 13,064 899,587 Invesco, Ltd...... 8,719 233,059 Halozyme Therapeutics, Inc. (a) ...... 6,391 290,215 Janus Henderson Group plc ...... 2,991 116,081 Horizon Therapeutics plc (a) ...... 3,906 365,758 London Stock Exchange Group plc ...... 2,570 283,465 Incyte Corp. (a) ...... 5,943 499,985 Macquarie Group, Ltd...... 4,622 542,107 Moderna, Inc. (a) ...... 5,025 1,180,774 Moody’s Corp...... 8,966 3,249,009 Novavax, Inc. (a) ...... 3,083 654,552 Morgan Stanley ...... 42,905 3,933,959 Regeneron Pharmaceuticals, Inc. (a) ...... 534 298,260 MSCI, Inc...... 507 270,272 Sorrento Therapeutics, Inc. (a) (b) ...... 10,420 100,970 Nasdaq, Inc...... 11,965 2,103,447 Vertex Pharmaceuticals, Inc. (a) ...... 1,882 379,468 Nomura Holdings, Inc...... 79,300 402,820 11,974,796 Northern Trust Corp...... 2,654 306,855 Rathbone Brothers plc ...... 2,180 54,601 Building Products—0.4% S&P Global, Inc...... 1,885 773,698 Allegion plc ...... 1,975 275,117 SBI Holdings, Inc...... 2,500 59,113 Assa Abloy AB - Class B ...... 15,595 469,860 SEI Investments Co...... 3,111 192,789 China Lesso Group Holdings, Ltd...... 35,000 86,372 State Street Corp...... 9,210 757,799 Cie de Saint-Gobain ...... 15,257 1,005,939 T. Rowe Price Group, Inc...... 4,144 820,388 Daikin Industries, Ltd...... 3,400 632,913 UBS Group AG ...... 54,429 833,389 Geberit AG ...... 385 288,893 Virtus Investment Partners, Inc...... 173 48,054 Genuit Group plc ...... 5,558 47,106 29,410,253 Lixil Corp...... 2,200 56,872 Masco Corp...... 3,426 201,826 Chemicals—0.8% Nibe Industrier AB - B Shares ...... 11,304 118,984 Air Liquide S.A...... 4,858 851,239 Owens Corning ...... 997 97,606 Air Products & Chemicals, Inc...... 2,687 772,996 Resideo Technologies, Inc. (a) ...... 613 18,390 BASF SE ...... 10,222 805,514 Trane Technologies plc ...... 16,687 3,072,744 Celanese Corp...... 1,365 206,934 Trex Co., Inc. (a) ...... 1,174 119,995 Chemours Co. (The) ...... 4,956 172,469 Xinyi Glass Holdings, Ltd...... 40,000 163,054 Chr Hansen Holding A/S ...... 2,290 206,708 Corteva, Inc...... 6,810 302,023 6,655,671 Covestro AG ...... 1,348 87,073 Dow, Inc...... 7,385 467,323 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-326 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Chemicals—(Continued) Construction Materials—0.2% DuPont de Nemours, Inc...... 5,913 $ 457,725 CRHplc...... 12,144 $ 616,158 Ecolab, Inc...... 2,013 414,618 James Hardie Industries plc ...... 9,493 322,417 Givaudan S.A...... 162 753,469 Vulcan Materials Co...... 11,285 1,964,380 Hansol Chemical Co., Ltd...... 147 32,028 2,902,955 Hanwha Solutions Corp. (a) ...... 1,506 59,592 International Flavors & Fragrances, Inc...... 1,265 188,991 Consumer Finance—0.4% Johnson Matthey plc ...... 1,824 77,650 Ally Financial, Inc...... 3,725 185,654 Kaneka Corp...... 1,200 48,210 Koninklijke DSM NV ...... 827 154,393 American Express Co...... 23,994 3,964,529 Linde plc ...... 3,624 1,047,698 Capital One Financial Corp...... 8,202 1,268,767 LyondellBasell Industries NV - Class A ...... 3,551 365,291 Credit Saison Co., Ltd...... 3,200 38,824 Mitsubishi Gas Chemical Co., Inc...... 2,300 48,749 Discover Financial Services ...... 6,544 774,090 Mosaic Co. (The) ...... 5,177 165,198 Synchrony Financial ...... 4,980 241,629 RPM International, Inc...... 5,249 465,481 6,473,493 Sherwin-Williams Co. (The) ...... 7,874 2,145,271 Shin-Etsu Chemical Co., Ltd...... 2,900 484,719 Containers & Packaging—0.3% Sika AG ...... 2,530 827,269 Ball Corp...... 15,421 1,249,409 Synthomer plc ...... 8,778 59,707 Berry Global Group, Inc. (a) ...... 1,569 102,330 Tokuyama Corp...... 2,300 46,809 International Paper Co...... 26,026 1,595,654 Tosoh Corp...... 3,000 51,714 Rengo Co., Ltd...... 4,900 40,790 Trinseo S.A...... 1,079 64,567 Sealed Air Corp...... 23,186 1,373,771 Tronox Holding plc - Class A ...... 3,675 82,320 Smurfit Kappa Group plc ...... 6,514 353,402 Valvoline, Inc...... 4,221 137,014 Toyo Seikan Group Holdings, Ltd...... 5,500 75,061 Wacker Chemie AG ...... 433 66,754 Vidrala S.A...... 342 40,857 Yara International ASA ...... 2,961 155,963 4,831,274 12,273,479 Distributors—0.0% Commercial Services & Supplies—0.2% Pool Corp...... 495 227,037 Cintas Corp...... 690 263,580 Copart, Inc. (a) ...... 5,028 662,841 Diversified Consumer Services—0.0% Country Garden Services Holdings Co., Ltd...... 10,000 108,065 frontdoor, Inc. (a) ...... 3,262 162,513 Dai Nippon Printing Co., Ltd...... 3,400 71,855 H&R Block, Inc...... 8,832 207,375 Deluxe Corp...... 1,460 69,744 Harsco Corp. (a) ...... 2,011 41,065 369,888 Republic Services, Inc...... 6,370 700,764 Societe BIC S.A...... 871 60,554 Diversified Financial Services—0.2% TOPPAN, Inc...... 7,800 125,291 Berkshire Hathaway, Inc. - Class B (a) ...... 9,529 2,648,300 Waste Management, Inc...... 8,273 1,159,130 Equitable Holdings, Inc...... 5,915 180,112 3,262,889 M&Gplc...... 28,156 89,320 Mitsubishi HC Capital, Inc...... 8,400 44,834 Communications Equipment—0.2% ORIX Corp...... 11,700 196,870 Arista Networks, Inc. (a) ...... 635 230,067 Zenkoku Hosho Co., Ltd...... 2,600 111,719 Cisco Systems, Inc...... 44,990 2,384,470 3,271,155 Nokia Oyj (a) ...... 83,697 448,207 Telefonaktiebolaget LM Ericsson - B Shares ...... 26,669 335,365 Diversified Telecommunication Services—0.5% Ubiquiti, Inc...... 364 113,637 AT&T, Inc...... 59,337 1,707,719 3,511,746 BCE, Inc...... 10,016 493,932 BT Group plc (a) ...... 92,352 248,029 Construction & Engineering—0.1% Deutsche Telekom AG ...... 25,822 545,901 China Conch Venture Holdings, Ltd...... 35,000 147,407 Gamma Communications plc ...... 2,311 63,635 Kajima Corp...... 9,600 121,544 Liberty Global plc - Class A (a) ...... 10,222 277,629 MasTec, Inc. (a) ...... 595 63,129 Nippon Telegraph & Telephone Corp...... 7,600 197,969 Obayashi Corp...... 19,200 152,456 Orange S.A. (b) ...... 20,785 237,025 Taisei Corp...... 2,400 78,552 Spark New Zealand, Ltd...... 113,354 380,229 Vinci S.A...... 6,973 744,576 Swisscom AG ...... 369 210,697 1,307,664 Telecom Italia S.p.A...... 549,020 272,806 Telenor ASA ...... 7,673 129,472 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-327 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Diversified Telecommunication Services—(Continued) Electronic Equipment, Instruments & Components—(Continued) Verizon Communications, Inc...... 44,673 $ 2,503,028 Vontier Corp...... 7,789 $ 253,766 7,268,071 Yokogawa Electric Corp...... 18,200 269,706 Zebra Technologies Corp. - Class A (a) ...... 2,971 1,573,115 Electric Utilities—0.5% 6,505,178 Avangrid, Inc...... 1,980 101,831 Chubu Electric Power Co., Inc...... 5,100 62,155 Energy Equipment & Services—0.2% Duke Energy Corp...... 3,664 361,710 Schlumberger NV ...... 82,246 2,632,695 Edison International ...... 3,227 186,585 Subsea 7 S.A...... 7,352 70,630 Enel S.p.A...... 70,986 659,551 2,703,325 Evergy, Inc...... 9,960 601,883 Eversource Energy ...... 5,131 411,711 Entertainment—0.7% Exelon Corp. (b) ...... 9,892 438,315 Activision Blizzard, Inc...... 34,217 3,265,671 Iberdrola S.A...... 51,342 625,624 Capcom Co., Ltd...... 1,600 46,821 NextEra Energy, Inc...... 40,556 2,971,944 Electronic Arts, Inc...... 2,345 337,281 Orsted A/S ...... 2,860 402,354 International Games System Co., Ltd...... 2,000 60,262 Red Electrica Corp. S.A. (b) ...... 19,067 353,875 Kahoot ASA (a) ...... 3,178 21,793 Southern Co. (The) ...... 9,275 561,230 Koei Tecmo Holdings Co., Ltd...... 7,060 344,593 Terna SPA...... 36,851 274,570 Liberty Media Corp.-Liberty Formula One - Class C (a) ...... 7,238 348,944 Verbund AG ...... 1,331 122,521 NCSoft Corp...... 154 112,090 8,135,859 NetEase, Inc...... 1,150 132,538 Netflix, Inc. (a) ...... 4,598 2,428,710 Electrical Equipment—0.4% Nexon Co., Ltd...... 4,100 91,404 ABB, Ltd...... 23,889 810,900 Nintendo Co., Ltd...... 900 523,656 AMETEK, Inc...... 1,795 239,633 Stillfront Group AB (a) ...... 3,042 29,245 Atkore, Inc. (a) ...... 1,247 88,537 Take-Two Interactive Software, Inc. (a) ...... 2,137 378,292 Ballard Power Systems, Inc. (a) (b) ...... 7,305 132,475 Walt Disney Co. (The) (a) ...... 14,988 2,634,441 Eaton Corp. plc ...... 4,966 735,862 Emerson Electric Co...... 9,503 914,569 10,755,741 EnerSys ...... 519 50,722 Generac Holdings, Inc. (a) ...... 1,224 508,144 Equity Real Estate Investment Trusts—0.5% GrafTech International, Ltd...... 4,382 50,919 American Tower Corp...... 2,706 730,999 GS Yuasa Corp...... 1,900 48,465 Crown Castle International Corp...... 3,368 657,097 Legrand S.A...... 3,075 325,654 Daiwa House REIT Investment Corp...... 301 887,456 Nidec Corp...... 4,000 463,281 Digital Realty Trust, Inc...... 1,953 293,848 Prysmian S.p.A...... 6,881 246,801 Equinix, Inc...... 586 470,324 Siemens Energy AG (a) ...... 2,798 84,360 Equity LifeStyle Properties, Inc...... 9,287 690,117 Signify NV ...... 2,887 182,641 Orix JREIT, Inc...... 310 596,464 Somfy S.A...... 320 54,369 Pebblebrook Hotel Trust ...... 2,116 49,832 Vertiv Holdings Co...... 21,751 593,802 PotlatchDeltic Corp...... 2,316 123,095 Vestas Wind Systems A/S ...... 16,400 642,667 Prologis, Inc...... 5,645 674,747 Voltronic Power Technology Corp...... 2,150 103,787 Public Storage ...... 1,589 477,796 Xinjiang Goldwind Science & Technology Co., Ltd. - Class H ...... 27,200 42,529 SBA Communications Corp...... 992 316,150 Simon Property Group, Inc...... 9,902 1,292,013 6,320,117 Terreno Realty Corp...... 691 44,583 Ventas, Inc...... 4,609 263,174 Electronic Equipment, Instruments & Components—0.4% Vicinity Centres ...... 66,200 76,389 Amphenol Corp. - Class A ...... 3,683 251,954 Welltower, Inc...... 5,492 456,385 Arrow Electronics, Inc. (a) ...... 558 63,517 Weyerhaeuser Co...... 17,064 587,343 AU Optronics Corp...... 104,000 84,673 Cognex Corp...... 2,273 191,046 8,687,812 Corning, Inc...... 15,004 613,664 Keyence Corp...... 2,000 1,008,888 Food & Staples Retailing—0.4% Keysight Technologies, Inc. (a) ...... 1,949 300,945 Costco Wholesale Corp...... 9,527 3,769,548 Murata Manufacturing Co., Ltd...... 6,000 457,860 Endeavour Group, Ltd. (a) ...... 8,626 40,690 Nippon Electric Glass Co., Ltd. (b) ...... 2,900 68,101 Koninklijke Ahold Delhaize NV ...... 12,732 378,549 Trimble, Inc. (a) ...... 16,109 1,318,199 Kroger Co. (The) ...... 5,666 217,065 TXC Corp...... 11,000 49,744 North West Co., Inc. (The) ...... 1,427 40,510 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-328 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Food & Staples Retailing—(Continued) Health Care Providers & Services—(Continued) Seven & i Holdings Co., Ltd...... 8,800 $ 419,487 Centene Corp. (a) ...... 4,597 $ 335,259 Sysco Corp...... 4,234 329,194 Chemed Corp...... 266 126,217 Walgreens Boots Alliance, Inc. (b) ...... 5,422 285,251 Cigna Corp...... 2,484 588,882 Walmart, Inc...... 6,876 969,654 CVS Group plc (a) ...... 1,292 43,185 Woolworths Group, Ltd...... 8,626 246,369 CVS Health Corp...... 10,729 895,228 DaVita, Inc. (a) ...... 1,954 235,320 6,696,317 HCA Healthcare, Inc...... 12,708 2,627,252 Humana, Inc...... 949 420,141 Food Products—0.5% McKesson Corp...... 1,393 266,397 Bunge, Ltd...... 1,234 96,437 UnitedHealth Group, Inc...... 18,472 7,396,928 Conagra Brands, Inc...... 4,462 162,327 Danone S.A...... 7,420 522,575 13,579,846 Darling Ingredients, Inc. (a) ...... 910 61,425 General Mills, Inc...... 8,249 502,612 Health Care Technology—0.1% Hershey Co. (The) ...... 5,166 899,814 Cerner Corp...... 3,685 288,020 Kraft Heinz Co. (The) ...... 5,308 216,460 Inovalon Holdings, Inc. - Class A (a) ...... 2,633 89,733 Mondelez International, Inc. - Class A ...... 12,016 750,279 M3, Inc...... 3,000 219,224 Nestle S.A...... 32,594 4,059,105 Omnicell, Inc. (a) (b) ...... 400 60,580 Salmar ASA ...... 1,913 127,073 Simulations Plus, Inc. (b) ...... 706 38,766 Veeva Systems, Inc. - Class A (a) ...... 1,988 618,169 7,398,107 1,314,492 Gas Utilities—0.0% Hong Kong & China Gas Co., Ltd...... 245,857 381,881 Hotels, Restaurants & Leisure—0.7% National Fuel Gas Co...... 1,554 81,196 Aristocrat Leisure, Ltd...... 16,820 543,431 Booking Holdings, Inc. (a) ...... 1,311 2,868,586 463,077 Brinker International, Inc. (a) ...... 1,432 88,569 Cheesecake Factory, Inc. (The) (a) ...... 1,066 57,756 Health Care Equipment & Supplies—1.3% Chipotle Mexican Grill, Inc. (a) (b) ...... 242 375,182 Abbott Laboratories ...... 18,597 2,155,950 Compass Group plc (a) ...... 13,620 287,260 Align Technology, Inc. (a) ...... 941 574,951 DraftKings, Inc. - Class A (a) (b) ...... 14,666 765,125 Baxter International, Inc...... 3,917 315,318 Evolution AB ...... 1,721 272,073 Becton Dickinson & Co...... 2,067 502,674 Galaxy Entertainment Group, Ltd. (a) ...... 38,000 304,187 Boston Scientific Corp. (a) ...... 12,084 516,712 Gamesys Group plc ...... 1,877 47,915 Danaher Corp...... 12,364 3,318,003 Hilton Grand Vacations, Inc. (a) ...... 1,793 74,212 DexCom, Inc. (a) (b) ...... 2,732 1,166,564 Kindred Group plc ...... 4,313 67,627 Edwards Lifesciences Corp. (a) ...... 24,286 2,515,301 Las Vegas Sands Corp. (a) ...... 4,211 221,878 GN Store Nord AS ...... 1,573 137,744 Marriott International, Inc. - Class A (a) ...... 3,604 492,018 Hill-Rom Holdings, Inc...... 929 105,525 Marriott Vacations Worldwide Corp. (a) ...... 384 61,171 Hoya Corp...... 4,700 622,933 McDonald’s Corp...... 7,915 1,828,286 IDEXX Laboratories, Inc. (a) ...... 2,855 1,803,075 Oriental Land Co., Ltd...... 2,300 327,631 Inmode, Ltd. (a) ...... 622 58,891 Starbucks Corp...... 8,016 896,269 Intuitive Surgical, Inc. (a) ...... 1,015 933,435 Travel and Leisure Co...... 1,225 72,826 Koninklijke Philips NV ...... 7,780 385,688 Wyndham Hotels & Resorts, Inc. (b) ...... 19,439 1,405,245 Medtronic plc ...... 15,421 1,914,209 Yum! Brands, Inc...... 3,332 383,280 Olympus Corp...... 9,600 190,728 ResMed, Inc...... 1,237 304,945 11,440,527 STAAR Surgical Co. (a) ...... 297 45,292 STERIS plc ...... 3,000 618,900 Household Durables—0.4% Century Communities, Inc...... 1,207 80,314 Stryker Corp...... 3,919 1,017,882 DR Horton, Inc...... 8,009 723,773 Sysmex Corp...... 2,400 283,468 Garmin, Ltd...... 2,322 335,854 West Pharmaceutical Services, Inc...... 3,032 1,088,791 JS Global Lifestyle Co., Ltd...... 21,500 60,507 Zimmer Biomet Holdings, Inc...... 4,283 688,792 Lennar Corp. - Class A (b) ...... 5,099 506,586 21,265,771 LG Electronics, Inc...... 692 100,422 M/I Homes, Inc. (a) ...... 682 40,013 Health Care Providers & Services—0.9% Man Wah Holdings, Ltd. (b) ...... 27,600 66,331 AdaptHealth Corp. (a) ...... 1,079 29,575 MDC Holdings, Inc...... 2,106 106,564 Anthem, Inc...... 1,612 615,462 Meritage Homes Corp. (a) ...... 1,113 104,711 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-329 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Household Durables—(Continued) Insurance—(Continued) Nikon Corp...... 7,500 $ 80,037 Chubb, Ltd...... 3,599 $ 572,025 NVR, Inc. (a) ...... 257 1,278,138 CNP Assurances ...... 2,629 44,689 Open House Co., Ltd...... 1,700 79,911 Direct Line Insurance Group plc ...... 15,729 61,980 PulteGroup, Inc...... 2,599 141,827 Everest Re Group, Ltd...... 962 242,434 Sekisui Chemical Co., Ltd...... 34,700 592,890 Legal & General Group plc ...... 72,517 258,108 Sony Group Corp...... 9,400 912,299 Manulife Financial Corp...... 42,932 845,064 Tempur Sealy International, Inc...... 2,723 106,714 Marsh & McLennan Cos., Inc...... 9,091 1,278,922 Toll Brothers, Inc...... 1,658 95,849 Muenchener Rueckversicherungs-Gesellschaft AG ...... 946 259,153 TopBuild Corp. (a) ...... 5,029 994,636 NN Group NV ...... 4,819 227,133 Whirlpool Corp...... 800 174,416 Principal Financial Group, Inc...... 3,227 203,914 Progressive Corp. (The) ...... 4,503 442,240 6,581,792 Prudential Financial, Inc...... 2,969 304,233 Prudential plc ...... 21,257 403,327 Household Products—0.7% RenaissanceRe Holdings, Ltd...... 837 124,562 Church & Dwight Co., Inc...... 4,099 349,317 Sun Life Financial, Inc...... 5,554 286,392 Clorox Co. (The) ...... 3,577 643,538 Unum Group ...... 6,591 187,184 Colgate-Palmolive Co...... 18,036 1,467,229 Willis Towers Watson plc ...... 931 214,149 Essity AB - Class B ...... 22,910 759,652 Zurich Insurance Group AG ...... 1,797 720,502 Kimberly-Clark Corp...... 10,804 1,445,359 Procter & Gamble Co. (The) ...... 37,145 5,011,975 11,777,091 Reckitt Benckiser Group plc ...... 13,794 1,220,785 Reynolds Consumer Products, Inc...... 1,131 34,326 Interactive Media & Services—2.4% Alphabet, Inc. - Class A (a) ...... 4,937 12,055,117 10,932,181 Alphabet, Inc. - Class C (a) ...... 4,541 11,381,199 Auto Trader Group plc (a) ...... 13,306 116,691 Independent Power and Renewable Electricity Producers—0.0% Facebook, Inc. - Class A (a) ...... 32,523 11,308,572 AES Corp. (The) ...... 3,650 95,156 IAC/InterActiveCorp. (a) ...... 1,233 190,092 Drax Group plc ...... 11,735 68,833 Match Group, Inc. (a) ...... 5,732 924,285 TransAlta Renewables, Inc...... 2,399 40,312 Pinterest, Inc. - Class A (a) ...... 2,832 223,586 204,301 REA Group, Ltd...... 518 65,689 Rightmove plc ...... 5,807 52,227 Industrial Conglomerates—0.6% Snap, Inc. - Class A (a) ...... 8,827 601,472 3MCo...... 14,266 2,833,656 Tencent Holdings, Ltd...... 2,800 210,614 CK Hutchison Holdings, Ltd...... 22,500 175,322 Twitter, Inc. (a) ...... 9,454 650,530 General Electric Co...... 50,624 681,399 37,780,074 Hitachi, Ltd...... 10,500 600,924 Honeywell International, Inc...... 11,173 2,450,797 Internet & Direct Marketing Retail—1.4% LG Corp...... 793 72,191 Alibaba Group Holding, Ltd. (ADR) (a) ...... 712 161,467 LX Holdings Corp. (a) ...... 384 3,836 Amazon.com, Inc. (a) ...... 5,512 18,962,162 Roper Technologies, Inc...... 2,202 1,035,380 eBay, Inc. (b) ...... 14,425 1,012,779 Siemens AG ...... 7,025 1,113,111 Etsy, Inc. (a) ...... 815 167,760 8,966,616 Just Eat Takeaway.com NV (a) ...... 1,692 156,276 MercadoLibre, Inc. (a) ...... 267 415,930 Insurance—0.7% Mercari, Inc. (a) ...... 4,000 212,565 Admiral Group plc ...... 1,370 59,621 Prosus NV (a) ...... 7,029 687,757 Aegon NV ...... 15,746 65,261 Revolve Group, Inc. (a) ...... 1,575 108,518 Aflac, Inc...... 1,386 74,373 ZOZO, Inc...... 2,100 71,388 AIA Group, Ltd...... 84,800 1,053,952 21,956,602 Allianz SE ...... 3,772 940,496 Allstate Corp. (The) ...... 1,811 236,227 IT Services—2.0% American International Group, Inc...... 12,803 609,423 Accenture plc - Class A ...... 11,038 3,253,892 Aon plc - Class A ...... 2,430 580,187 Amadeus IT Group S.A. (a) ...... 3,798 267,099 ASR Nederland NV ...... 5,219 201,507 Amdocs, Ltd...... 6,013 465,166 Assured Guaranty, Ltd...... 3,201 151,983 Automatic Data Processing, Inc...... 5,810 1,153,982 Aviva plc ...... 27,200 152,953 Broadridge Financial Solutions, Inc...... 3,186 514,635 AXA S.A...... 27,102 686,600 Cognizant Technology Solutions Corp. - Class A ...... 4,078 282,442 Brown & Brown, Inc...... 5,429 288,497 EPAM Systems, Inc. (a) ...... 562 287,160 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-330 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

IT Services—(Continued) Machinery—(Continued) EVERTEC, Inc...... 1,970 $ 85,990 KION Group AG ...... 966 $ 102,957 Fidelity National Information Services, Inc...... 5,589 791,794 Komatsu, Ltd...... 23,000 571,454 Fiserv, Inc. (a) ...... 4,272 456,634 Meritor, Inc. (a) ...... 2,410 56,442 Fujitsu, Ltd...... 2,000 374,608 Otis Worldwide Corp...... 14,941 1,221,726 Global Payments, Inc...... 4,018 753,536 Parker-Hannifin Corp...... 8,243 2,531,508 Infosys, Ltd. (ADR) ...... 6,826 144,643 SKF AB - B Shares ...... 3,393 86,438 International Business Machines Corp...... 9,392 1,376,773 SMC Corp...... 600 354,396 Jack Henry & Associates, Inc...... 1,521 248,699 Spirax-Sarco Engineering plc ...... 483 91,058 MasterCard, Inc. - Class A (b) ...... 13,404 4,893,666 Stanley Black & Decker, Inc...... 1,900 389,481 Okta, Inc. (a) ...... 2,047 500,860 Toro Co. (The) ...... 2,577 283,161 Paychex, Inc...... 3,872 415,466 Volvo AB - B Shares (b) ...... 16,501 397,186 PayPal Holdings, Inc. (a) ...... 13,365 3,895,630 Yangzijiang Shipbuilding Holdings, Ltd...... 41,600 43,734 Shopify, Inc. - Class A (a) ...... 964 1,409,815 14,013,914 Square, Inc. - Class A (a) ...... 6,845 1,668,811 Twilio, Inc. - Class A (a) ...... 1,445 569,561 Marine—0.0% VeriSign, Inc. (a) ...... 1,535 349,504 AP Moller - Maersk A/S - Class B ...... 39 112,156 Visa, Inc. - A Shares ...... 34,285 8,016,519 Kawasaki Kisen Kaisha, Ltd. (a) ...... 2,000 71,873 Western Union Co. (The) ...... 11,439 262,754 Mitsui OSK Lines, Ltd...... 2,100 100,880 32,439,639 Nippon Yusen KK ...... 4,300 217,772 SITC International Holdings Co., Ltd...... 19,000 79,412 Leisure Products—0.1% Wan Hai Lines, Ltd...... 16,000 184,233 Brunswick Corp...... 1,705 169,852 766,326 Malibu Boats, Inc. - Class A (a) ...... 983 72,083 MIPS AB ...... 1,142 98,254 Media—0.7% Peloton Interactive, Inc. - Class A (a) ...... 1,390 172,388 AMC Networks, Inc. - Class A (a) ...... 1,067 71,276 Shimano, Inc...... 700 165,987 Cable One, Inc...... 145 277,357 Thule Group AB ...... 4,038 179,073 Charter Communications, Inc. - Class A (a) (b) ...... 3,035 2,189,601 YETI Holdings, Inc. (a) ...... 1,856 170,418 Cogeco Communications, Inc...... 500 48,891 1,028,055 Comcast Corp. - Class A ...... 84,448 4,815,225 Discovery, Inc. - Class A (a) (b) ...... 9,668 296,614 Life Sciences Tools & Services—0.4% Eutelsat Communications S.A...... 5,757 67,285 10X Genomics, Inc. - Class A (a) ...... 1,661 325,257 Fox Corp. - Class A ...... 6,292 233,622 Agilent Technologies, Inc...... 4,455 658,494 Future plc ...... 1,788 77,521 Bio-Techne Corp. (b) ...... 411 185,057 Gray Television, Inc...... 3,917 91,658 Illumina, Inc. (a) ...... 907 429,201 Interpublic Group of Cos., Inc. (The) ...... 3,180 103,318 IQVIA Holdings, Inc. (a) ...... 1,564 378,988 ITVplc(a)...... 122,464 213,127 Lonza Group AG ...... 540 382,802 Liberty Broadband Corp. - Class C (a) ...... 3,309 574,641 Mettler-Toledo International, Inc. (a) ...... 173 239,664 Mediaset Espana Comunicacion S.A. (a) ...... 31,263 196,203 Sartorius Stedim Biotech ...... 462 218,556 Metropole Television S.A...... 4,087 86,021 Thermo Fisher Scientific, Inc...... 5,717 2,884,055 Nexstar Media Group, Inc. - Class A ...... 1,439 212,799 Waters Corp. (a) ...... 673 232,596 Omnicom Group, Inc...... 8,832 706,472 5,934,670 Quebecor, Inc. - Class B ...... 3,497 93,265 TechTarget, Inc. (a) ...... 608 47,114 TEGNA, Inc...... 6,920 129,819 Machinery—0.9% AGCO Corp...... 1,251 163,105 10,531,829 Allison Transmission Holdings, Inc...... 4,331 172,114 Atlas Copco AB - A Shares ...... 12,776 782,684 Metals & Mining—0.7% Caterpillar, Inc...... 3,596 782,597 AMG Advanced Metallurgical Group NV ...... 1,208 41,370 Chart Industries, Inc. (a) (b) ...... 653 95,547 Anglo American Platinum, Ltd...... 857 99,035 Deere & Co...... 8,367 2,951,125 Anglo American PLC ...... 13,329 531,146 Epiroc AB - A Shares ...... 11,422 260,295 ArcelorMittal S.A...... 4,619 141,794 FANUC Corp...... 2,100 506,206 Arconic Corp. (a) ...... 3,426 122,034 Graco, Inc...... 5,006 378,954 Argonaut Gold, Inc. (a) ...... 45,200 108,296 Harmonic Drive Systems, Inc. (b) ...... 1,600 88,171 Asahi Holdings, Inc...... 1,700 34,659 IDEX Corp...... 2,152 473,548 B2Gold Corp...... 19,829 83,181 Illinois Tool Works, Inc...... 5,502 1,230,027 Barrick Gold Corp...... 17,556 363,130 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-331 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Metals & Mining—(Continued) Oil, Gas & Consumable Fuels—1.4% BHP Group, Ltd...... 45,718 $ 1,658,328 Advantage Energy, Ltd. (a) (b) ...... 27,900 $ 113,887 BlueScope Steel, Ltd...... 6,541 107,507 Aker BP ASA ...... 3,616 115,290 Centerra Gold, Inc...... 6,900 52,379 ARC Resources, Ltd...... 19,678 167,476 Equinox Gold Corp. (a) ...... 4,246 29,492 Beach Energy, Ltd...... 96,174 89,784 ERO Copper Corp. (a) ...... 1,756 36,845 Berry Corp...... 12,365 83,093 Ferrexpo plc ...... 6,422 38,105 BPplc...... 209,059 913,693 First Quantum Minerals, Ltd...... 7,355 169,516 Canadian Natural Resources, Ltd...... 11,746 426,404 Fortescue Metals Group, Ltd...... 7,872 137,772 Chevron Corp...... 10,921 1,143,865 Fortuna Silver Mines, Inc. (a) (b) ...... 7,067 39,394 CNX Resources Corp. (a) ...... 2,627 35,885 Franco-Nevada Corp...... 1,610 233,642 ConocoPhillips ...... 76,523 4,660,251 Freeport-McMoRan, Inc...... 30,730 1,140,390 Crescent Point Energy Corp...... 16,063 72,696 Glencore plc (a) ...... 96,443 413,005 Denbury, Inc. (a) (b) ...... 1,324 101,657 HudBay Minerals, Inc...... 5,104 33,969 Devon Energy Corp...... 7,157 208,913 IAMGOLD Corp. (a) ...... 18,249 53,734 Diamondback Energy, Inc...... 1,781 167,218 Iluka Resources, Ltd...... 11,514 78,831 Enbridge, Inc...... 13,201 528,530 Impala Platinum Holdings, Ltd...... 9,033 149,279 Enerplus Corp...... 4,247 30,527 JFE Holdings, Inc...... 8,600 100,738 EOG Resources, Inc...... 9,366 781,499 KGHM Polska Miedz S.A...... 1,020 50,172 EQT Corp. (a) ...... 7,712 171,669 Kinross Gold Corp...... 18,564 117,710 Equinor ASA ...... 24,223 512,706 Kirkland Lake Gold, Ltd...... 5,973 230,179 Exxon Mobil Corp...... 24,182 1,525,400 Kobe Steel, Ltd. (a) ...... 9,500 60,895 Gulf Keystone Petroleum, Ltd...... 61,899 158,245 Lundin Mining Corp...... 12,305 110,979 Hess Corp...... 4,872 425,423 Lynas Rare Earths, Ltd. (a) ...... 38,056 162,673 Hess Midstream L.P. - Class A ...... 7,023 177,331 Mineral Resources, Ltd...... 2,368 95,375 HollyFrontier Corp...... 2,697 88,731 MMC Norilsk Nickel PJSC (ADR) ...... 2,541 86,191 Imperial Oil, Ltd...... 2,552 77,779 Newmont Corp...... 7,772 492,589 Inpex Corp. (b) ...... 34,200 256,314 Northam Platinum, Ltd. (a) ...... 5,255 79,844 International Seaways, Inc...... 1,912 36,672 Perseus Mining, Ltd. (a) ...... 96,858 106,257 Japan Petroleum Exploration Co., Ltd...... 5,800 104,413 Polymetal International plc ...... 4,895 105,423 Keyera Corp. (b) ...... 10,427 280,190 Rio Tinto plc ...... 17,334 1,427,053 Kinder Morgan, Inc...... 20,478 373,314 Rio Tinto, Ltd...... 5,032 477,955 Lukoil PJSC (ADR) ...... 969 89,148 SSR Mining, Inc...... 2,515 39,279 Lundin Energy AB ...... 6,390 226,724 Steel Dynamics, Inc...... 13,655 813,838 Marathon Petroleum Corp...... 6,212 375,329 Teck Resources, Ltd. - Class B ...... 2,453 56,497 MEG Energy Corp. (a) ...... 10,199 73,802 10,510,480 Neste Oyj ...... 7,052 432,072 Nordic American Tankers, Ltd. (b) ...... 5,118 16,787 Multi-Utilities—0.2% OMVAG...... 3,972 226,596 Dominion Energy, Inc...... 8,821 648,961 Ovintiv, Inc...... 4,348 136,832 E.ON SE ...... 24,904 288,009 Parex Resources, Inc. (a) ...... 7,513 125,459 Engie S.A...... 17,367 238,088 Phillips 66 ...... 3,386 290,586 National Grid plc ...... 35,240 448,688 Pioneer Natural Resources Co...... 1,561 253,694 RWEAG...... 9,318 337,676 Range Resources Corp. (a) (b) ...... 3,854 64,593 Sempra Energy ...... 4,031 534,027 Repsol S.A...... 19,671 246,740 WEC Energy Group, Inc...... 1,918 170,606 Royal Dutch Shell plc - A Shares ...... 23,465 471,540 Royal Dutch Shell plc - A Shares ...... 10,067 203,098 2,666,055 Royal Dutch Shell plc - B Shares ...... 67,830 1,317,966 Southwestern Energy Co. (a) ...... 14,067 79,760 Multiline Retail—0.2% Suncor Energy, Inc...... 16,226 388,633 Dollar General Corp...... 1,788 386,905 TC Energy Corp...... 8,559 423,531 Dollar Tree, Inc. (a) ...... 2,129 211,836 TotalEnergies SE ...... 29,217 1,325,498 Dollarama, Inc...... 12,387 566,988 Valero Energy Corp...... 3,483 271,953 Next plc (a) ...... 773 84,127 VERBIO Vereinigte BioEnergie AG ...... 3,472 175,785 Target Corp...... 5,707 1,379,610 Whitecap Resources, Inc...... 12,878 63,995 Wesfarmers, Ltd...... 17,161 760,270 Whiting Petroleum Corp. (a) ...... 1,489 81,225 3,389,736 Woodside Petroleum, Ltd...... 22,480 374,591 21,564,792 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-332 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Paper & Forest Products—0.0% Professional Services—(Continued) Canfor Corp. (a) ...... 1,511 $ 34,569 Wolters Kluwer NV ...... 4,119 $ 413,991 Interfor Corp...... 1,397 34,981 3,550,313 Louisiana-Pacific Corp...... 2,043 123,172 UPM-Kymmene Oyj ...... 8,491 321,222 Real Estate Management & Development—0.1% West Fraser Timber Co., Ltd...... 2,616 187,801 CK Asset Holdings, Ltd...... 54,954 379,369 701,745 Deutsche Wohnen SE ...... 5,152 315,391 Henderson Land Development Co., Ltd...... 17,000 80,574 Personal Products—0.3% Hongkong Land Holdings, Ltd...... 19,600 93,368 BellRing Brands, Inc. - Class A (a) ...... 1,455 45,600 Mitsui Fudosan Co., Ltd...... 12,500 289,394 Estee Lauder Cos., Inc. (The) - Class A ...... 3,152 1,002,588 Newmark Group, Inc. - Class A ...... 8,598 103,262 Herbalife, Ltd. (a) ...... 1,792 94,492 Sino Land Co., Ltd...... 40,000 63,059 Kao Corp. (b) ...... 5,400 332,173 Sun Hung Kai Properties, Ltd...... 13,500 201,171 L’Oreal S.A...... 2,030 905,200 Swire Pacific, Ltd. - Class A ...... 13,500 91,546 Shiseido Co., Ltd. (b) ...... 4,000 294,127 Swire Properties, Ltd...... 28,000 83,484 Unilever plc ...... 38,723 2,264,868 Vonovia SE ...... 4,443 287,510 Wharf Real Estate Investment Co., Ltd...... 28,000 162,826 4,939,048 2,150,954 Pharmaceuticals—2.4% Astellas Pharma, Inc...... 65,400 1,138,458 Road & Rail—0.5% AstraZeneca plc ...... 20,444 2,453,243 Canadian National Railway Co...... 14,062 1,483,679 Bayer AG ...... 6,453 391,966 Canadian Pacific Railway, Ltd...... 12,440 956,583 Bristol-Myers Squibb Co...... 31,423 2,099,685 CSX Corp...... 18,087 580,231 Chugai Pharmaceutical Co., Ltd. (b) ...... 5,400 212,688 J.B. Hunt Transport Services, Inc...... 603 98,259 Daiichi Sankyo Co., Ltd. (b) ...... 12,000 258,536 Landstar System, Inc...... 49 7,743 Eisai Co., Ltd...... 2,100 205,221 Norfolk Southern Corp...... 2,209 586,291 Eli Lilly and Co...... 17,771 4,078,800 Odakyu Electric Railway Co., Ltd. (b) ...... 10,600 267,150 GlaxoSmithKline plc ...... 86,339 1,696,101 Old Dominion Freight Line, Inc...... 500 126,900 Hisamitsu Pharmaceutical Co., Inc...... 6,900 339,615 TFI International, Inc...... 597 54,504 Ipsen S.A...... 1,449 150,749 Uber Technologies, Inc. (a) ...... 16,160 809,939 Jazz Pharmaceuticals plc (a) ...... 1,797 319,219 Union Pacific Corp...... 13,344 2,934,746 Johnson & Johnson ...... 41,486 6,834,404 Werner Enterprises, Inc...... 1,740 77,465 Merck & Co., Inc...... 43,556 3,387,350 7,983,490 Novartis AG ...... 28,657 2,611,936 Novo Nordisk A/S - Class B ...... 21,006 1,757,405 Semiconductors & Semiconductor Equipment—2.3% Ono Pharmaceutical Co., Ltd...... 16,100 357,364 ACM Research, Inc. - Class A (a) ...... 515 52,643 Organon & Co. (a) ...... 3,486 105,486 Advanced Micro Devices, Inc. (a) ...... 9,774 918,072 Pfizer, Inc...... 71,568 2,802,603 Advantest Corp...... 2,000 179,324 Roche Holding AG ...... 8,161 3,075,641 Amkor Technology, Inc...... 1,825 43,198 Sanofi ...... 17,804 1,865,604 Analog Devices, Inc...... 3,494 601,527 Takeda Pharmaceutical Co., Ltd...... 11,400 382,870 Applied Materials, Inc...... 10,732 1,528,237 Tsumura & Co...... 1,200 37,742 ASM International NV ...... 802 263,699 Viatris, Inc...... 25,123 359,008 ASML Holding NV ...... 4,492 3,092,748 Zoetis, Inc...... 3,405 634,556 BE Semiconductor Industries NV ...... 2,034 172,700 37,556,250 Broadcom, Inc...... 4,247 2,025,139 Brooks Automation, Inc...... 929 88,515 Professional Services—0.2% Canadian Solar, Inc. (a) (b) ...... 869 38,966 BayCurrent Consulting, Inc...... 900 323,402 Cohu, Inc. (a) ...... 892 32,817 CoStar Group, Inc. (a) ...... 3,700 306,434 Daqo New Energy Corp. (ADR) (a) ...... 2,535 164,826 Experian plc ...... 7,183 277,099 Disco Corp...... 300 91,738 Intertrust NV (a) ...... 2,028 36,536 Enphase Energy, Inc. (a) ...... 1,885 346,143 Recruit Holdings Co., Ltd...... 11,700 575,709 Entegris, Inc...... 612 75,258 RELX plc ...... 38,276 1,016,860 First Solar, Inc. (a) (b) ...... 17,009 1,539,485 RWS Holdings plc ...... 6,333 49,390 Flat Glass Group Co., Ltd...... 41,000 168,990 Verisk Analytics, Inc...... 3,153 550,892 Infineon Technologies AG ...... 12,229 490,393 Intel Corp...... 42,815 2,403,634 KLA Corp...... 2,576 835,165 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-333 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Semiconductors & Semiconductor Equipment—(Continued) Software—(Continued) Kulicke & Soffa Industries, Inc. (b) ...... 2,354 $ 144,065 Salesforce.com, Inc. (a) ...... 11,452 $ 2,797,380 Lam Research Corp...... 5,145 3,347,851 SAPSE...... 6,339 894,417 Lasertec Corp...... 1,000 193,924 ServiceNow, Inc. (a) ...... 1,316 723,208 Marvell Technology, Inc...... 6,259 365,087 Sinch AB (a) ...... 2,040 34,337 MaxLinear, Inc. (a) ...... 1,569 66,667 Splunk, Inc. (a) ...... 1,455 210,364 Microchip Technology, Inc...... 2,834 424,363 SS&C Technologies Holdings, Inc...... 4,036 290,834 Micron Technology, Inc. (a) ...... 27,026 2,296,669 TeamViewer AG (a) ...... 2,588 97,492 Monolithic Power Systems, Inc...... 276 103,072 Trade Desk, Inc. (The) - Class A (a) ...... 4,470 345,799 Nordic Semiconductor ASA (a) ...... 3,650 92,560 Tyler Technologies, Inc. (a) ...... 245 110,831 NVIDIA Corp...... 6,831 5,465,483 Workday, Inc. - Class A (a) ...... 2,098 500,876 NXP Semiconductors NV ...... 2,820 580,130 Zoom Video Communications, Inc. - Class A (a) ...... 1,311 507,396 Parade Technologies, Ltd...... 4,000 198,834 Zscaler, Inc. (a) ...... 565 122,074 Power Integrations, Inc...... 714 58,591 49,216,812 Qorvo, Inc. (a) ...... 902 176,476 QUALCOMM, Inc...... 13,396 1,914,690 Specialty Retail—0.9% Silergy Corp...... 1,000 136,025 AutoNation, Inc. (a) ...... 1,000 94,810 SK Hynix, Inc...... 877 99,337 AutoZone, Inc. (a) ...... 659 983,373 Skyworks Solutions, Inc...... 2,141 410,537 Burlington Stores, Inc. (a) ...... 1,869 601,799 Soitec (a) ...... 258 56,921 Fast Retailing Co., Ltd...... 600 451,438 SolarEdge Technologies, Inc. (a) ...... 1,391 384,431 Floor & Decor Holdings, Inc. - Class A (a) (b) ...... 11,348 1,199,484 Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) ...... 657 78,945 Foot Locker, Inc...... 2,947 181,624 Teradyne, Inc...... 908 121,636 Group 1 Automotive, Inc...... 385 59,456 Texas Instruments, Inc...... 20,323 3,908,113 H & M Hennes & Mauritz AB - B Shares (a) ...... 6,358 150,877 Tokyo Electron, Ltd...... 1,700 731,921 Hibbett Sports, Inc. (a) ...... 630 56,467 Ultra Clean Holdings, Inc. (a) ...... 1,249 67,096 Home Depot, Inc. (The) ...... 13,735 4,379,954 Universal Display Corp...... 660 146,738 Industria de Diseno Textil S.A (b) ...... 12,058 424,885 Xilinx, Inc...... 2,328 336,722 Lithia Motors, Inc. - Class A ...... 109 37,457 Xinyi Solar Holdings, Ltd. (b) ...... 122,000 263,372 Lowe’s Cos., Inc...... 7,951 1,542,255 37,323,473 MarineMax, Inc. (a) ...... 893 43,525 O’Reilly Automotive, Inc. (a) ...... 3,283 1,858,867 Software—3.1% Ross Stores, Inc...... 3,388 420,112 Adobe, Inc. (a) ...... 9,187 5,380,275 Signet Jewelers, Ltd. (a) ...... 1,769 142,917 Autodesk, Inc. (a) ...... 3,040 887,376 TJX Cos., Inc. (The) ...... 9,719 655,255 Avaya Holdings Corp. (a) (b) ...... 1,851 49,792 Tractor Supply Co...... 4,739 881,738 Blackberry, Ltd. (a) ...... 9,574 117,010 Workman Co., Ltd...... 800 56,034 Check Point Software Technologies, Ltd. (a) ...... 6,197 719,658 14,222,327 Constellation Software, Inc...... 230 348,342 Crowdstrike Holdings, Inc. - Class A (a) ...... 1,666 418,682 Technology Hardware, Storage & Peripherals—1.8% Digital Turbine, Inc. (a) ...... 1,657 125,982 Apple, Inc...... 193,204 26,461,220 DocuSign, Inc. (a) ...... 2,282 637,979 Hewlett Packard Enterprise Co...... 15,808 230,481 Dropbox, Inc. - Class A (a) ...... 3,169 96,052 HP, Inc...... 26,227 791,793 Dynatrace, Inc. (a) ...... 1,399 81,730 Logitech International S.A...... 2,319 281,052 Five9, Inc. (a) ...... 173 31,726 Seagate Technology Holdings plc ...... 2,433 213,934 Fortinet, Inc. (a) ...... 900 214,371 Western Digital Corp. (a) ...... 4,827 343,537 Intuit, Inc...... 6,741 3,304,236 28,322,017 j2 Global, Inc. (a) ...... 241 33,150 Microsoft Corp...... 96,754 26,210,659 Textiles, Apparel & Luxury Goods—0.8% Netcompany Group A/S ...... 1,964 223,717 Adidas AG ...... 1,245 463,599 Nice, Ltd. (ADR) (a) ...... 1,068 264,287 ANTA Sports Products, Ltd...... 3,000 70,631 NortonLifeLock, Inc...... 9,199 250,397 Cie Financiere Richemont S.A. - Class A ...... 6,211 751,979 Oracle Corp...... 27,999 2,179,442 Crocs, Inc. (a) ...... 587 68,397 Oracle Corp. Japan ...... 1,000 76,535 Deckers Outdoor Corp. (a) ...... 3,848 1,477,901 Palo Alto Networks, Inc. (a) ...... 1,525 565,851 EssilorLuxottica S.A...... 2,871 530,123 Paycom Software, Inc. (a) ...... 263 95,593 Hermes International ...... 49 71,444 RingCentral, Inc. - Class A (a) (b) ...... 739 214,739 Kering S.A...... 623 545,169 Sage Group plc (The) ...... 5,724 54,223 Kontoor Brands, Inc. (b) ...... 1,200 67,692 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-334 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Textiles, Apparel & Luxury Goods—(Continued) Wireless Telecommunication Services—(Continued) lululemon athletica, Inc. (a) ...... 3,139 $ 1,145,641 Vodafone Group plc ...... 297,360 $ 500,138 LVMH Moet Hennessy Louis Vuitton SE ...... 3,555 2,791,269 2,527,160 Moncler S.p.A...... 6,935 469,453 NIKE, Inc. - Class B ...... 25,482 3,936,714 Total Common Stocks Pandora A/S ...... 859 115,748 (Cost $556,450,916) ...... 690,862,528 VF Corp...... 3,386 277,788 12,783,548 Corporate Bonds & Notes—36.3%

Thrifts & Mortgage Finance—0.0% Aerospace/Defense—0.5% Essent Group, Ltd...... 2,574 115,701 Boeing Co. (The) MGIC Investment Corp...... 10,091 137,238 1.433%, 02/04/24 ...... 4,385,000 4,396,604 Radian Group, Inc...... 8,285 184,341 2.196%, 02/04/26 ...... 4,301,000 4,342,110 437,280 8,738,714

Tobacco—0.4% Agriculture—0.6% Altria Group, Inc...... 22,539 1,074,660 Altria Group, Inc. British American Tobacco plc ...... 20,838 812,311 5.800%, 02/14/39 ...... 1,171,000 1,446,590 Imperial Brands plc ...... 19,759 425,796 BAT Capital Corp. Philip Morris International, Inc...... 31,701 3,141,886 4.390%, 08/15/37 (b) ...... 3,506,000 3,780,457 Scandinavian Tobacco Group A/S - Class A ...... 5,605 114,593 Bunge, Ltd. Finance Corp. Swedish Match AB ...... 57,840 493,331 2.750%, 05/14/31 ...... 1,865,000 1,885,461 6,062,577 Cargill, Inc. 0.750%, 02/02/26 (144A) (b) ...... 2,710,000 2,680,113 Trading Companies & Distributors—0.4% 9,792,621 AerCap Holdings NV (a) ...... 1,105 56,587 Air Lease Corp...... 1,300 54,262 Airlines—0.2% Ashtead Group plc ...... 7,834 581,878 Southwest Airlines Co. Boise Cascade Co...... 1,519 88,634 4.750%, 05/04/23 ...... 1,193,000 1,279,776 Diploma plc ...... 4,105 165,039 5.250%, 05/04/25 (b) ...... 1,149,000 1,310,979 Fastenal Co. (b) ...... 17,595 914,940 2,590,755 Ferguson plc ...... 2,949 410,498 ITOCHU Corp...... 10,100 290,322 Auto Manufacturers—0.3% Marubeni Corp...... 23,100 200,782 General Motors Co. Mitsui & Co., Ltd...... 61,400 1,381,511 6.125%, 10/01/25 ...... 3,125,000 3,699,382 MonotaRO Co., Ltd...... 2,700 63,957 General Motors Financial Co., Inc. Rexel S.A. (a) ...... 5,416 113,348 5.100%, 01/17/24 ...... 844,000 929,162 Sojitz Corp...... 29,500 88,837 Sumitomo Corp...... 35,600 476,280 4,628,544 Toromont Industries, Ltd...... 1,503 130,949 Toyota Tsusho Corp...... 1,300 61,323 Banks—9.4% Triton International, Ltd...... 1,536 80,394 Banco Santander S.A. WESCO International, Inc. (a) ...... 508 52,233 2.706%, 06/27/24 ...... 4,600,000 4,840,427 WW Grainger, Inc...... 1,755 768,690 2.749%, 12/03/30 ...... 2,200,000 2,179,359 Bank of America Corp. 5,980,464 1.898%, SOFR + 1.530%, 07/23/31 (c) ...... 6,129,000 5,958,907 2.884%, 3M LIBOR + 1.190%, 10/22/30 (b) (c) ...... 12,460,000 13,125,248 Water Utilities—0.0% Bank of Ireland Group plc American Water Works Co., Inc...... 3,165 487,821 4.500%, 11/25/23 (144A) ...... 4,622,000 4,994,236 BNP Paribas S.A. Wireless Telecommunication Services—0.2% 2.871%, SOFR + 1.387%, 04/19/32 (144A) (b) (c)...... 3,061,000 3,143,557 KDDI Corp...... 28,300 882,372 BPCE S.A. SoftBank Group Corp...... 10,300 721,312 2.277%, SOFR + 1.312%, 01/20/32 (144A) (b) (c)...... 2,741,000 2,688,780 T-Mobile U.S., Inc. (a) ...... 2,923 423,338 Citigroup, Inc. 2.666%, SOFR + 1.146%, 01/29/31 (c) ...... 13,016,000 13,432,915 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-335 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Banks—(Continued) Beverages—(Continued) Credit Suisse AG Coca-Cola Co. (The) 0.418%, SOFR + 0.390%, 02/02/24 (b) (c) ...... 2,267,000 $ 2,266,909 2.875%, 05/05/41 (b) ...... 1,336,000 $ 1,388,462 Credit Suisse Group AG 12,512,377 1.305%, SOFR + 0.980%, 02/02/27 (144A) (c) ...... 1,000,000 979,451 2.593%, SOFR + 1.560%, 09/11/25 (144A) (c) ...... 2,281,000 2,373,095 Biotechnology—0.4% 3.750%, 03/26/25 ...... 2,800,000 3,037,178 Amgen, Inc. 4.550%, 04/17/26 ...... 545,000 617,273 2.450%, 02/21/30 ...... 2,100,000 2,164,707 Deutsche Bank AG 3.375%, 02/21/50 ...... 3,286,000 3,469,334 1.686%, 03/19/26 (b) ...... 5,407,000 5,458,292 Goldman Sachs Group, Inc. (The) 5,634,041 0.436%, SOFR + 0.410%, 01/27/23 (c) ...... 6,833,000 6,837,707 JPMorgan Chase & Co. Building Materials—0.3% 1.578%, SOFR + 0.885%, 04/22/27 (c) ...... 5,048,000 5,074,154 Carrier Global Corp. 1.953%, SOFR + 1.065%, 02/04/32 (b) (c) ...... 1,902,000 1,847,220 2.700%, 02/15/31 (b) ...... 4,486,000 4,618,856 2.950%, 10/01/26 (b) ...... 6,709,000 7,219,401 Masco Corp. 2.956%, SOFR + 2.515%, 05/13/31 (c) ...... 550,000 577,779 1.500%, 02/15/28 (b) ...... 500,000 488,172 Lloyds Banking Group plc 5,107,028 1.326%, 1Y H15 + 1.100%, 06/15/23 (b) (c) ...... 2,336,000 2,354,749 2.438%, 1Y H15 + 1.000%, 02/05/26 (b) (c) ...... 2,107,000 2,197,232 Chemicals—0.3% M&T Bank Corp. Air Products and Chemicals, Inc. 5.125%, 3M LIBOR + 3.520%, 11/01/26 (b) (c) ...... 1,654,000 1,821,451 2.700%, 05/15/40 ...... 1,544,000 1,565,880 Manufacturers & Traders Trust Co. Sherwin-Williams Co. (The) 3.400%, 08/17/27 ...... 4,596,000 5,060,203 3.450%, 06/01/27 ...... 1,305,000 1,439,294 Morgan Stanley Westlake Chemical Corp. 4.350%, 09/08/26 ...... 2,373,000 2,686,868 3.375%, 06/15/30 ...... 1,131,000 1,217,206 2.699%, SOFR + 1.143%, 01/22/31 (c) ...... 4,389,000 4,594,416 4.000%, 07/23/25 ...... 3,892,000 4,328,899 4,222,380 Natwest Group plc 3.073%, 1Y H15 + 2.550%, 05/22/28 (c) ...... 2,333,000 2,461,927 Commercial Services—0.5% 4.800%, 04/05/26 ...... 1,708,000 1,955,548 Moody’s Corp. Santander Holdings USA, Inc. 3.250%, 05/20/50 ...... 2,800,000 2,926,426 3.500%, 06/07/24 ...... 1,742,000 1,863,440 Quanta Services, Inc. Santander UK Group Holdings plc 2.900%, 10/01/30 (b) ...... 2,358,000 2,444,830 1.532%, 1Y H15 + 1.250%, 08/21/26 (c) ...... 1,154,000 1,155,971 S&P Global, Inc. Societe Generale S.A. 2.500%, 12/01/29 (b) ...... 1,098,000 1,150,761 1.792%, 1Y H15 + 1.000%, 06/09/27 (144A) (c) ...... 1,538,000 1,534,261 Transurban Finance Co. Pty, Ltd. State Street Corp. 2.450%, 03/16/31 (144A) (b) ...... 1,116,000 1,122,354 5.625%, 3M LIBOR + 2.539%, 12/15/23 (b) (c) ...... 1,420,000 1,505,200 7,644,371 Truist Financial Corp. 4.800%, 5Y H15 + 3.003%, 09/01/24 (c) ...... 10,078,000 10,581,900 Diversified Financial Services—1.0% UBS Group AG AerCap Ireland Capital DAC / AerCap Global Aviation Trust 1.364%, 1Y H15 + 1.080%, 01/30/27 (144A) (c) ...... 1,424,000 1,414,032 1.750%, 01/30/26 (b) ...... 2,128,000 2,103,027 3.126%, 3M LIBOR + 1.468%, 08/13/30 (144A) (b) (c) . . . 1,378,000 1,476,826 Capital One Financial Corp. UniCredit S.p.A. 3.300%, 10/30/24 ...... 845,000 910,092 1.982%, 1Y H15 + 1.200%, 06/03/27 (144A) (c) ...... 2,487,000 2,477,701 3.900%, 01/29/24 ...... 500,000 539,610 Wells Fargo & Co. Discover Financial Services 3.196%, 3M LIBOR + 1.170%, 06/17/27 (c) ...... 9,609,000 10,370,261 4.500%, 01/30/26 ...... 2,627,000 2,965,738 4.100%, 06/03/26 (b) ...... 2,500,000 2,807,475 GE Capital International Funding Co. 149,300,248 4.418%, 11/15/35 ...... 4,713,000 5,648,443 Mastercard, Inc. Beverages—0.8% 3.850%, 03/26/50 ...... 2,750,000 3,321,001 Anheuser-Busch InBev Worldwide, Inc. 15,487,911 4.439%, 10/06/48 ...... 9,294,000 11,123,915

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-336 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Electric—1.7% Healthcare-Products—0.6% AES Corp. (The) Alcon Finance Corp. 1.375%, 01/15/26 (144A) (b) ...... 928,000 $ 918,895 2.600%, 05/27/30 (144A) ...... 4,427,000 $ 4,520,948 3.300%, 07/15/25 (144A) ...... 2,086,000 2,225,971 2.750%, 09/23/26 (144A) ...... 1,488,000 1,574,709 Berkshire Hathaway Energy Co. DH Europe Finance II Sarl 3.700%, 07/15/30 ...... 2,000,000 2,267,014 3.400%, 11/15/49 ...... 3,427,000 3,767,760 3.800%, 07/15/48 ...... 2,636,000 3,014,537 9,863,417 6.500%, 09/15/37 (b) ...... 345,000 492,131 Centerpoint Energy Houston Electric LLC Healthcare-Services—0.2% 2.900%, 07/01/50 ...... 2,897,000 2,938,384 UnitedHealth Group, Inc. Duke Energy Corp. 2.875%, 08/15/29 ...... 2,245,000 2,421,674 3.300%, 06/15/41 ...... 130,000 133,163 3.500%, 06/15/51 ...... 120,000 124,107 Home Furnishings—0.1% Eversource Energy Whirlpool Corp. 1.650%, 08/15/30 (b) ...... 2,007,000 1,920,806 4.500%, 06/01/46 ...... 1,605,000 1,934,893 Exelon Corp. 4.700%, 04/15/50 (b) ...... 2,811,000 3,550,618 Insurance—0.5% NRG Energy, Inc. High Street Funding Trust II 2.450%, 12/02/27 (144A) ...... 2,705,000 2,722,397 4.682%, 02/15/48 (144A) ...... 1,250,000 1,518,181 Pacific Gas and Electric Co. Progressive Corp. (The) 3.300%, 08/01/40 (b) ...... 3,059,000 2,762,501 5.375%, 3M LIBOR + 2.539%, 03/15/23 (c) ...... 4,400,000 4,613,356 Sempra Energy Prudential Financial, Inc. 3.800%, 02/01/38 ...... 2,000,000 2,220,461 4.500%, 3M LIBOR + 2.380%, 09/15/47 (b) (c) ...... 1,870,000 2,037,762 Southern California Edison Co. 4.200%, 03/01/29 ...... 500,000 563,905 8,169,299 5.500%, 03/15/40 ...... 335,000 419,366 Internet—0.3% 26,274,256 Amazon.com, Inc. 2.500%, 06/03/50 ...... 3,760,000 3,552,832 Electronics—0.4% Expedia Group, Inc. Amphenol Corp. 2.950%, 03/15/31 ...... 411,000 416,472 2.800%, 02/15/30 ...... 5,764,000 6,086,360 4.625%, 08/01/27 ...... 652,000 736,855 6.250%, 05/01/25 (144A) ...... 398,000 462,975 Environmental Control—0.1% Republic Services, Inc. 5,169,134 1.450%, 02/15/31 (b) ...... 1,000,000 936,856 Leisure Time—0.1% Food—0.6% Carnival Corp. Flowers Foods, Inc. 11.500%, 04/01/23 (144A) ...... 1,002,000 1,127,651 2.400%, 03/15/31 (b) ...... 1,803,000 1,806,441 Mondelez International, Inc. Lodging—0.4% 2.750%, 04/13/30 ...... 3,000,000 3,160,024 Las Vegas Sands Corp. Tyson Foods, Inc. 3.200%, 08/08/24 ...... 4,495,000 4,717,637 4.000%, 03/01/26 ...... 3,000,000 3,346,866 Marriott International, Inc. 5.100%, 09/28/48 ...... 1,500,000 1,974,314 2.850%, 04/15/31 (b) ...... 887,000 900,740 10,287,645 5,618,377

Gas—0.2% Machinery-Construction & Mining—0.1% NiSource, Inc. Caterpillar, Inc. 1.700%, 02/15/31 (b) ...... 3,751,000 3,544,432 3.250%, 04/09/50 (b) ...... 1,626,000 1,797,382

Hand/Machine Tools—0.1% Machinery-Diversified—0.3% Stanley Black & Decker, Inc. Otis Worldwide Corp. 4.000%, 5Y H15 + 2.657%, 03/15/60 (b) (c) ...... 2,255,000 2,399,320 2.565%, 02/15/30 ...... 2,268,000 2,348,849 3.112%, 02/15/40 ...... 650,000 671,818

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-337 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Machinery-Diversified—(Continued) Oil & Gas—(Continued) Xylem, Inc. Valero Energy Corp. 2.250%, 01/30/31 (b) ...... 1,835,000 $ 1,847,235 4.000%, 04/01/29 (b) ...... 1,705,000 $ 1,903,980 4,867,902 31,799,674

Media—1.1% Packaging & Containers—0.2% Charter Communications Operating LLC / Charter Communications Berry Global, Inc. Operating Capital Corp. 1.650%, 01/15/27 (144A) ...... 1,986,000 1,968,801 3.700%, 04/01/51 (b) ...... 6,000,000 5,934,399 CCL Industries, Inc. Comcast Corp. 3.050%, 06/01/30 (144A) ...... 1,885,000 1,977,876 3.400%, 04/01/30 ...... 2,250,000 2,483,652 3,946,677 4.600%, 10/15/38 ...... 255,000 316,047 Discovery Communications LLC Pharmaceuticals—1.5% 3.625%, 05/15/30 (b) ...... 1,525,000 1,663,745 AbbVie, Inc. 4.125%, 05/15/29 (b) ...... 2,621,000 2,934,575 4.250%, 11/21/49 ...... 5,700,000 6,831,532 ViacomCBS, Inc. Becton Dickinson & Co. 4.750%, 05/15/25 ...... 3,137,000 3,549,805 2.823%, 05/20/30 (b) ...... 4,437,000 4,647,202 16,882,223 Bristol-Myers Squibb Co. 3.200%, 06/15/26 ...... 4,488,000 4,926,511 Mining—0.2% Cigna Corp. Barrick North America Finance LLC 3.400%, 03/01/27 ...... 1,000,000 1,096,648 5.750%, 05/01/43 ...... 2,247,000 3,167,828 CVS Health Corp. 2.700%, 08/21/40 ...... 5,167,000 5,008,460 Miscellaneous Manufacturing—0.2% 4.250%, 04/01/50 ...... 681,000 807,232 Ingersoll-Rand Luxembourg Finance S.A. 5.050%, 03/25/48 ...... 142,000 184,440 3.500%, 03/21/26 (b) ...... 3,655,000 4,000,196 23,502,025

Oil & Gas—2.0% Pipelines—1.5% BP Capital Markets plc Cheniere Corpus Christi Holdings LLC 4.375%, 5Y H15 + 4.036%, 06/22/25 (c) ...... 982,000 1,045,830 3.700%, 11/15/29 ...... 8,126,000 8,875,884 Canadian Natural Resources, Ltd. Enable Midstream Partners L.P. 2.950%, 07/15/30 (b) ...... 2,106,000 2,181,763 4.400%, 03/15/27 (b) ...... 744,000 820,242 4.950%, 06/01/47 ...... 2,159,000 2,683,445 4.950%, 05/15/28 (b) ...... 1,098,000 1,257,169 ConocoPhillips Energy Transfer L.P. 2.400%, 02/15/31 (144A) (b) ...... 945,000 967,245 4.050%, 03/15/25 ...... 1,531,000 1,660,028 3.750%, 10/01/27 (144A) ...... 1,266,000 1,422,541 Kinder Morgan Energy Partners L.P. Continental Resources, Inc. 5.800%, 03/15/35 ...... 311,000 399,483 4.375%, 01/15/28 (b) ...... 1,596,000 1,765,575 6.950%, 01/15/38 ...... 1,655,000 2,365,421 5.750%, 01/15/31 (144A) (b) ...... 507,000 607,133 Kinder Morgan, Inc. Devon Energy Corp. 2.000%, 02/15/31 (b) ...... 1,188,000 1,142,028 5.850%, 12/15/25 ...... 1,595,000 1,872,100 MPLX L.P. Diamondback Energy, Inc. 4.500%, 04/15/38 ...... 2,817,000 3,232,382 3.125%, 03/24/31 ...... 2,336,000 2,420,928 ONEOK, Inc. EOG Resources, Inc. 4.350%, 03/15/29 ...... 903,000 1,019,358 4.375%, 04/15/30 (b) ...... 1,145,000 1,355,466 Plains All American Pipeline L.P. / PAA Finance Corp. EQT Corp. 3.550%, 12/15/29 ...... 1,391,000 1,464,755 7.625%, 02/01/25 ...... 4,160,000 4,852,598 3.800%, 09/15/30 (b) ...... 1,084,000 1,159,943 Hess Corp. 3.500%, 07/15/24 (b) ...... 552,000 585,634 23,396,693 5.800%, 04/01/47 ...... 1,500,000 1,954,545 Marathon Petroleum Corp. Real Estate Investment Trusts—4.8% 4.500%, 04/01/48 ...... 2,723,000 3,108,269 Alexandria Real Estate Equities, Inc. Occidental Petroleum Corp. 1.875%, 02/01/33 ...... 2,419,000 2,286,694 3.200%, 08/15/26 (b) ...... 1,493,000 1,504,197 American Tower Corp. Pioneer Natural Resources Co. 2.100%, 06/15/30 ...... 6,606,000 6,496,285 1.125%, 01/15/26 ...... 1,584,000 1,568,425 3.800%, 08/15/29 ...... 1,413,000 1,574,393 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-338 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate Investment Trusts—(Continued) Savings & Loans—0.0% Boston Properties L.P. Nationwide Building Society 3.250%, 01/30/31 (b) ...... 4,160,000 $ 4,454,709 3.766%, 3M LIBOR + 1.064%, 03/08/24 (144A) (c) ...... 616,000 $ 646,886 3.400%, 06/21/29 ...... 1,000,000 1,085,380 4.500%, 12/01/28 (b) ...... 2,671,000 3,113,049 Semiconductors—1.1% Camden Property Trust Broadcom, Inc. 2.800%, 05/15/30 ...... 1,000,000 1,059,668 2.600%, 02/15/33 (144A) (b) ...... 3,812,000 3,727,636 4.100%, 10/15/28 ...... 465,000 534,460 NVIDIA Corp. Crown Castle International Corp. 2.850%, 04/01/30 (b) ...... 2,000,000 2,164,948 2.250%, 01/15/31 (b) ...... 7,852,000 7,750,146 NXP B.V. / NXP Funding LLC / NXP U.S.A., Inc. 3.700%, 06/15/26 ...... 1,312,000 1,442,755 3.400%, 05/01/30 (144A) ...... 3,444,000 3,760,531 Digital Realty Trust L.P. 3.875%, 06/18/26 (144A) ...... 2,000,000 2,215,096 3.700%, 08/15/27 ...... 8,546,000 9,565,465 QUALCOMM, Inc. Duke Realty L.P. 1.650%, 05/20/32 ...... 6,000,000 5,718,902 1.750%, 07/01/30 ...... 2,484,000 2,381,937 3.375%, 12/15/27 ...... 1,449,000 1,592,969 17,587,113 Equinix, Inc. 2.150%, 07/15/30 ...... 7,581,000 7,532,605 Software—0.4% Essex Portfolio L.P. Fiserv, Inc. 2.650%, 03/15/32 ...... 3,000,000 3,043,662 3.200%, 07/01/26 ...... 5,793,000 6,269,056 Highwoods Realty L.P. 4.200%, 04/15/29 ...... 1,424,000 1,599,138 Telecommunications—2.3% Kimco Realty Corp. AT&T, Inc. 2.700%, 10/01/30 (b) ...... 2,122,000 2,179,575 3.500%, 06/01/41 ...... 9,197,000 9,553,537 4.250%, 04/01/45 ...... 1,287,000 1,489,394 3.500%, 09/15/53 (144A) ...... 1,005,000 1,009,694 Mid-America Apartments L.P. 4.850%, 03/01/39 ...... 2,000,000 2,429,346 2.750%, 03/15/30 (b) ...... 2,000,000 2,091,157 T-Mobile USA, Inc. 4.200%, 06/15/28 ...... 360,000 412,412 3.500%, 04/15/31 ...... 722,000 746,945 Piedmont Operating Partnership L.P. 3.875%, 04/15/30 ...... 7,435,000 8,310,992 3.150%, 08/15/30 ...... 1,863,000 1,890,974 Telefonica Emisiones S.A.U. Prologis L.P. 5.213%, 03/08/47 ...... 1,000,000 1,248,275 2.125%, 10/15/50 ...... 756,000 645,268 Verizon Communications, Inc. Realty Income Corp. 3.400%, 03/22/41 ...... 3,546,000 3,751,110 1.800%, 03/15/33 (b) ...... 843,000 801,449 3.550%, 03/22/51 ...... 2,466,000 2,634,592 Vornado Realty L.P. 4.272%, 01/15/36 ...... 5,549,000 6,602,339 3.500%, 01/15/25 ...... 3,000,000 3,193,777 Welltower, Inc. 36,286,830 2.050%, 01/15/29 ...... 4,419,000 4,425,087 Total Corporate Bonds & Notes 3.100%, 01/15/30 (b) ...... 2,500,000 2,662,418 (Cost $559,592,511) ...... 574,173,243 75,304,826 Preferred Stocks—0.1% Retail—1.0% 7-Eleven, Inc. Auto Components—0.0% 0.612%, 3M LIBOR + 0.450%, 08/10/22 (144A) (c) ...... 4,311,000 4,312,936 Schaeffler AG ...... 7,241 66,796 Home Depot, Inc. (The) 3.350%, 04/15/50 (b) ...... 3,000,000 3,316,630 Automobiles—0.1% McDonald’s Corp. Porsche Automobil Holding SE ...... 1,506 161,374 3.600%, 07/01/30 (b) ...... 2,145,000 2,411,997 Ross Stores, Inc. Volkswagen AG ...... 4,817 1,207,986 1.875%, 04/15/31 (b) ...... 1,390,000 1,345,862 1,369,360 Starbucks Corp. 3.500%, 11/15/50 (b) ...... 2,369,000 2,552,000 Health Care Equipment & Supplies—0.0% Tractor Supply Co. Sartorius AG ...... 220 114,519 1.750%, 11/01/30 ...... 1,350,000 1,286,203 15,225,628 Household Products—0.0% Henkel AG & Co. KGaA ...... 5,498 580,476

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-339 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Preferred Stocks—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Water Utilities—0.0% Repurchase Agreements—(Continued) Cia de Saneamento do Parana ...... 46,600 $ 39,256 Barclays Capital, Inc. Repurchase Agreement dated 06/30/21 at 0.030%, due on Total Preferred Stocks 07/01/21 with a maturity value of $2,405,940; (Cost $1,584,377) ...... 2,170,407 collateralized by U.S. Treasury Obligations at 0.000%, maturity dates ranging from 05/15/29 - 11/15/43, and an Short-Term Investments—16.8% aggregate market value of $2,454,057...... 2,405,938 $ 2,405,938 BofA Securities, Inc. Repurchase Agreement—3.6% Repurchase Agreement dated 06/30/21 at 0.360%, due on Fixed Income Clearing Corp. 08/04/21 with a maturity value of $2,000,700; Repurchase Agreement dated 06/30/21 at 0.000%, due on collateralized by various Common Stock with an aggregate 07/01/21 with a maturity value of $57,062,308; market value of $2,200,000...... 2,000,000 2,000,000 collateralized by U.S. Treasury Notes with rates ranging from Cantor Fitzgerald & Co. 0.375% - 2.625%, maturity dates ranging from 12/31/23 - Repurchase Agreement dated 06/30/21 at 0.050%, due on 04/15/24, and an aggregate market value of 07/01/21 with a maturity value of $10,000,014; $58,203,641...... 57,062,308 57,062,308 collateralized by U.S. Government Agency Obligations with rates ranging from 0.920% - 7.500%, maturity dates ranging U.S. Treasury—13.2% from 11/01/23 - 06/20/71, and an aggregate market value U.S. Treasury Bills of $10,200,000...... 10,000,000 10,000,000 0.030%, 12/16/21 (b) (d) ...... 24,000,000 23,994,120 Citigroup Global Markets, Inc. 0.055%, 08/05/21 (d) ...... 100,000,000 99,995,447 Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.082%, 07/15/21 (d) ...... 84,750,000 84,748,517 08/04/21 with a maturity value of $4,001,672; collateralized by U.S. Treasury Obligations at 2.000%, 208,738,084 maturing 11/30/22, and various Common Stock with an Total Short-Term Investments aggregate market value of $4,392,910...... 4,000,000 4,000,000 (Cost $265,800,636) ...... 265,800,392 Deutsche Bank AG, London Repurchase Agreement dated 06/30/21 at 0.170%, due on 07/01/21 with a maturity value of $1,000,005; Securities Lending Reinvestments (e)—5.7% collateralized by U.S. Treasury and Foreign Obligations with rates ranging from 0.000% - 3.375%, maturity dates ranging Certificates of Deposit—0.5% from 02/01/22 - 03/11/31, and an aggregate market value Agricultural Bank of China of $1,020,001...... 1,000,000 1,000,000 0.100%, 07/01/21 ...... 100,000 100,000 HSBC Bank plc Industrial & Commercial Bank of China Ltd. Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.110%, 07/22/21 ...... 2,000,000 1,999,914 07/01/21 with a maturity value of $5,900,016; Natixis S.A. (New York) collateralized by U.S. Treasury Obligations with rates ranging 0.208%, 3M LIBOR + 0.040%, 02/11/22 (c) ...... 2,000,000 1,999,968 from 0.099% - 6.125%, maturity dates ranging from Oversea-Chinese Banking Corp., Ltd. 08/31/21 - 02/15/50, and an aggregate market value of 0.167%, 3M LIBOR + 0.020%, 03/25/22 (c) ...... 2,000,000 2,000,008 $6,020,425...... 5,900,000 5,900,000 Sumitomo Mitsui Trust Bank, Ltd. National Bank of Canada Zero Coupon, 08/09/21 ...... 1,998,645 1,999,700 Repurchase Agreement dated 06/30/21 at 0.210%, due on 07/07/21 with a maturity value of $8,000,327; 8,099,590 collateralized by various Common Stock with an aggregate market value of $8,888,941...... 8,000,000 8,000,000 Repurchase Agreements—3.4% NBC Global Finance, Ltd. Barclays Bank plc Repurchase Agreement dated 06/30/21 at 0.245%, due on Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/07/21 with a maturity value of $1,500,071; 07/01/21 with a maturity value of $2,100,012; collateralized by U.S. Treasury Obligations with rates ranging collateralized by various Common Stock with an aggregate from 1.875% - 3.000%, maturity dates ranging from market value of $2,333,512...... 2,100,000 2,100,000 07/31/22 - 02/15/49, and various Common Stock with an Repurchase Agreement dated 06/30/21 at 0.360%, due on aggregate market value of $1,666,667...... 1,500,000 1,500,000 08/04/21 with a maturity value of $4,001,400; Societe Generale collateralized by various Common Stock with an aggregate Repurchase Agreement dated 06/30/21 at 0.180%, due on market value of $4,445,338...... 4,000,000 4,000,000 07/01/21 with a maturity value of $10,200,051; collateralized by various Common Stock with an aggregate market value of $11,333,569...... 10,200,000 10,200,000 §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-340 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (e)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal (a) Non-income producing security. Security Description Amount* Value (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value of securities loaned was $99,092,572 and the collateral received consisted of cash in the amount of $91,604,584 and non-cash collateral with a value of $9,901,614. The Repurchase Agreements—(Continued) cash collateral investments are disclosed in the Consolidated Schedule of Investments Societe Generale and categorized as Securities Lending Reinvestments. The non-cash collateral received Repurchase Agreement dated 06/30/21 at 0.185%, due on consists of U.S. government securities that are held in safe-keeping by the lending 07/01/21 with a maturity value of $2,900,015; agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio. As collateralized by various Common Stock with an aggregate such, this collateral is excluded from the Consolidated Statement of Assets and market value of $3,222,325...... 2,900,000 $ 2,900,000 Liabilities. (c) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 54,005,938 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 Time Deposits—0.5% indicated in the description above. For certain variable rate securities, the coupon rate is ABN AMRO Bank NV determined by the issuer/agent based on current market conditions. For certain asset- 0.080%, 07/01/21 ...... 4,000,000 4,000,000 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Landesbank Baden-Wuettertemberg (London) underlying collateral or prepayments of principal. These securities do not indicate a 0.130%, 07/01/21 ...... 4,500,000 4,500,000 reference index and spread in their description above. (d) The rate shown represents current yield to maturity. 8,500,000 (e) Represents investment of cash collateral received from securities on loan as of June 30, 2021. Mutual Funds—1.3% (f) The rate shown represents the annualized seven-day yield as of June 30, 2021. BlackRock Liquidity Funds FedFund, Institutional Shares (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. 0.030% (f) ...... 6,000,000 6,000,000 These securities may be resold in transactions exempt from registration, normally to Goldman Sachs Financial Square Government Fund, qualified institutional buyers. As of June 30, 2021, the market value of 144A securities Institutional Shares was $62,572,508, which is 3.9% of net assets. 0.020% (f) ...... 5,000,000 5,000,000 STIT-Government & Agency Portfolio, Institutional Class 0.030% (f) ...... 10,000,000 10,000,000 21,000,000 Total Securities Lending Reinvestments (Cost $91,605,505) ...... 91,605,528 Total Investments—102.5% (Cost $1,475,033,945) ...... 1,624,612,098 Other assets and liabilities (net)—(2.5)% ...... (40,252,490) Net Assets—100.0% ...... $1,584,359,608

Forward Foreign Currency Exchange Contracts Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) AUD 4,472,500 JPMC ...... 07/23/21 USD 3,376,677 $ (22,166) AUD 4,472,500 UBSA ...... 07/23/21 USD 3,378,330 (23,818) BRL 57,139,000 UBSA ...... 07/02/21 USD 11,212,520 275,477 BRL 57,139,000 UBSA ...... 07/02/21 USD 11,422,774 65,223 BRL 33,684,000 UBSA ...... 08/03/21 USD 6,792,499 (43,180) BRL 57,139,000 UBSA ...... 08/03/21 USD 11,543,349 (94,313) CAD 20,582,000 UBSA ...... 07/23/21 USD 16,494,935 108,600 CHF 18,252,000 UBSA ...... 07/23/21 USD 19,818,515 (80,897) COP 89,860,000 MSIP ...... 07/06/21 USD 23,849 90 COP 25,539,499,000 MSIP ...... 08/11/21 USD 6,796,035 (3,790) CZK 47,891,580 JPMC ...... 07/23/21 USD 2,238,377 (11,795) CZK 97,234,420 MSIP ...... 07/23/21 USD 4,545,880 (25,244) DKK 9,189,000 GSI ...... 07/23/21 USD 1,469,938 (4,102) EUR 16,147,000 MSIP ...... 07/23/21 USD 19,213,811 (59,135) GBP 16,867,000 MSIP ...... 07/06/21 USD 23,287,896 44,514 GBP 13,211,161 UBSA ...... 07/23/21 USD 18,342,601 (66,435) HUF 1,998,234,000 UBSA ...... 07/23/21 USD 6,768,462 (27,295) IDR 102,420,096,000 UBSA ...... 07/06/21 USD 7,127,851 (66,650) §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-341 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Forward Foreign Currency Exchange Contracts—(Continued) Unrealized Settlement In Exchange Appreciation/ Contracts to Buy Counterparty Date for (Depreciation) IDR 102,420,096,000 UBSA ...... 08/12/21 USD 6,973,995 $ 66,512 ILS 53,000 UBSA ...... 07/23/21 USD 16,221 38 INR 1,100,449,000 UBSA ...... 07/06/21 USD 15,104,646 (305,424) INR 530,284,000 UBSA ...... 08/11/21 USD 7,090,780 13,322 JPY 4,426,714,344 GSI ...... 07/26/21 USD 40,213,655 (359,650) KRW 18,532,000 JPMC ...... 07/06/21 USD 16,415 41 MXN 626,000 MSIP ...... 07/23/21 USD 30,244 1,079 MYR 29,166,000 MSIP ...... 07/06/21 USD 7,047,140 (22,936) MYR 137,000 GSI ...... 08/11/21 USD 32,921 24 NOK 596,000 UBSA ...... 07/23/21 USD 68,749 479 PHP 326,750,000 MSIP ...... 07/06/21 USD 6,686,106 6,946 PLN 25,680,000 UBSA ...... 07/23/21 USD 6,787,040 (51,445) PLN 26,305,000 UBSA ...... 07/23/21 USD 6,901,229 (1,703) RUB 1,636,621,000 MSIP ...... 07/06/21 USD 22,155,872 213,226 RUB 1,636,621,000 GSI ...... 08/11/21 USD 22,244,254 4,074

Contracts to Deliver BRL 57,139,000 UBSA ...... 07/02/21 USD 11,579,491 91,494 BRL 57,139,000 UBSA ...... 07/02/21 USD 11,422,774 (65,223) CAD 5,597,180 MSIP ...... 07/23/21 USD 4,521,674 6,420 CAD 2,756,820 UBSA ...... 07/23/21 USD 2,230,065 6,134 CLP 4,818,231,000 MSIP ...... 08/04/21 USD 6,534,169 (21,420) COP 89,860,000 GSI ...... 07/06/21 USD 24,138 199 COP 89,860,000 MSIP ...... 08/11/21 USD 23,805 (94) CZK 3,151,000 MSIP ...... 07/23/21 USD 146,507 10 GBP 16,867,000 MSIP ...... 07/06/21 USD 23,536,399 203,989 GBP 16,867,000 MSIP ...... 07/23/21 USD 23,288,969 (44,642) HUF 8,373,000 GSI ...... 07/23/21 USD 28,058 (188) IDR 102,420,096,000 UBSA ...... 07/06/21 USD 7,008,834 (52,368) ILS 11,057,000 MSIP ...... 07/23/21 USD 3,394,009 1,891 ILS 11,057,000 MSIP ...... 07/23/21 USD 3,394,950 2,832 INR 570,165,000 UBSA ...... 07/06/21 USD 7,767,916 100,138 INR 530,284,000 UBSA ...... 07/06/21 USD 7,119,817 (11,628) INR 507,252,000 MSIP ...... 08/11/21 USD 6,802,360 6,813 KRW 18,532,000 UBSA ...... 07/06/21 USD 16,602 147 KRW 18,532,000 JPMC ...... 08/11/21 USD 16,412 (41) MYR 137,000 GSI ...... 07/06/21 USD 32,964 (30) MYR 29,029,000 MSIP ...... 07/06/21 USD 7,015,225 24,015 NZD 9,367,000 MSIP ...... 07/23/21 USD 6,514,945 (32,315) PHP 326,750,000 UBSA ...... 07/06/21 USD 6,807,504 114,453 PHP 326,750,000 MSIP ...... 08/11/21 USD 6,670,750 (15,019) RUB 1,636,621,000 GSI ...... 07/06/21 USD 22,361,418 (7,680) SGD 10,953,600 UBSA ...... 07/23/21 USD 8,142,246 (3,512) SGD 7,302,400 UBSA ...... 07/23/21 USD 5,430,917 412 THB 221,385,000 GSI ...... 07/23/21 USD 6,988,384 81,290 ZAR 100,170,000 UBSA ...... 07/23/21 USD 6,968,849 (27,633)

Cross Currency Contracts to Buy AUD 73,398 MSIP ...... 07/23/21 NZD 79,053 (205) AUD 44,190,000 MSIP ...... 07/23/21 CAD 41,283,845 (159,898) EUR 1,012,766 MSIP ...... 07/23/21 GBP 869,000 (752) EUR 1,254,643 MSIP ...... 07/26/21 JPY 163,831,147 13,452 MXN 221,645,000 UBSA ...... 07/23/21 CAD 13,297,796 362,948 SGD 59,300 GSI ...... 07/26/21 JPY 4,846,000 470 Net Unrealized Appreciation ...... $104,126

Cash in the amount of $327,000 has been received at the custodian bank and held in a segregated account as collateral for forward foreign currency exchange contracts. §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-342 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Futures Contracts Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) Euro Stoxx 50 Index Futures ...... 09/17/21 2,398 EUR 97,250,890 $(1,535,234) FTSE 100 Index Futures ...... 09/17/21 43 GBP 3,001,615 (45,859) MSCI Emerging Markets Index Mini Futures ...... 09/17/21 354 USD 24,156,960 (37,846) Nikkei 225 Index Futures ...... 09/09/21 25 JPY 719,500,000 (90,112) S&P Financial Select Sector E-Mini Futures ...... 09/17/21 322 USD 36,329,650 (592,387) S&P 500 Index E-Mini Futures ...... 09/17/21 649 USD 139,165,070 2,060,198 S&P TSX 60 Index Futures ...... 09/16/21 65 CAD 15,635,100 166,678 TOPIX Index Futures ...... 09/09/21 53 JPY 1,029,790,000 (66,438) U.S. Treasury Long Bond Futures ...... 09/21/21 540 USD 86,805,000 2,498,557 U.S. Treasury Note 2 Year Futures ...... 09/30/21 244 USD 53,758,156 (86,164) U.S. Treasury Note 5 Year Futures ...... 09/30/21 43 USD 5,307,477 (14,332) U.S. Treasury Ultra Long Bond Futures ...... 09/21/21 3 USD 578,063 21,393

Futures Contracts—Short Russell 2000 Index E-Mini Futures ...... 09/17/21 (285) USD (32,886,150) (28,535) U.S. Treasury Note 10 Year Futures ...... 09/21/21 (919) USD (121,767,500) (519,790) U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 (501) USD (73,748,766) (1,288,589) Net Unrealized Appreciation ...... $ 441,540

Swap Agreements Centrally Cleared Interest Rate Swaps Upfront Premiums Unrealized Floating Payment Fixed Payment Maturity Notional Market Paid/ Appreciation/ Pay/Receive Floating Rate Rate Index Frequency Rate Frequency Date Amount Value (Received) (Depreciation)(1) Pay ...... 3MLIBOR Quarterly 1.580% Quarterly 07/23/31 USD 474,000,000 $6,921,348 $— $6,921,348

(1) There is no upfront payment premium paid or (received) therefore Market Value equals Unrealized Appreciation/(Depreciation).

Glossary of Abbreviations

Counterparties (GSI)— Goldman Sachs International (MSIP)— Morgan Stanley & Co. International plc (UBSA)— UBS AG (JPMC)— JPMorgan Chase Bank N.A.

Currencies (AUD)— Australian Dollar (GBP)— British Pound (NOK)— Norwegian Krone (BRL)— Brazilian Real (HUF)— Hungarian Forint (NZD)— New Zealand Dollar (CAD)— Canadian Dollar (IDR)— Indonesian Rupiah (PHP)— Philippine Peso (CHF)— Swiss Franc (ILS)— Israeli Shekel (PLN)— Polish Zloty (CLP)— Chilean Peso (INR)— Indian Rupee (RUB)— Russian Ruble (COP)— Colombian Peso (JPY)— Japanese Yen (SGD)— Singapore Dollar (CZK)— Czech Koruna (KRW)— South Korean Won (THB)— Thai Baht (DKK)— Danish Krone (MXN)— Mexican Peso (USD)— United States Dollar (EUR)— Euro (MYR)— Malaysian Ringgit (ZAR)— South African Rand

Index Abbreviations (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (LIBOR)— London Interbank Offered Rate (SOFR)— Secured Overnight Financing Rate Maturity Index

Other Abbreviations (REIT)— Real Estate Investment Trust (ADR)— American Depositary Receipt

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-343 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $ 4,143,304 $ 1,305,342 $— $ 5,448,646 Air Freight & Logistics ...... 3,276,296 1,052,007 — 4,328,303 Airlines ...... 1,443,889 — — 1,443,889 Auto Components ...... 799,630 932,827 — 1,732,457 Automobiles ...... 6,032,766 5,619,909 — 11,652,675 Banks ...... 26,252,039 15,101,496 — 41,353,535 Beverages ...... 8,036,118 2,570,933 — 10,607,051 Biotechnology ...... 11,288,944 685,852 — 11,974,796 Building Products ...... 3,785,678 2,869,993 — 6,655,671 Capital Markets ...... 24,599,182 4,811,071 — 29,410,253 Chemicals ...... 7,455,919 4,817,560 — 12,273,479 Commercial Services & Supplies ...... 2,897,124 365,765 — 3,262,889 Communications Equipment ...... 2,728,174 783,572 — 3,511,746 Construction & Engineering ...... 63,129 1,244,535 — 1,307,664 Construction Materials ...... 1,964,380 938,575 — 2,902,955 Consumer Finance ...... 6,434,669 38,824 — 6,473,493 Containers & Packaging ...... 4,321,164 510,110 — 4,831,274 Distributors ...... 227,037 — — 227,037 Diversified Consumer Services ...... 369,888 — — 369,888 Diversified Financial Services ...... 2,828,412 442,743 — 3,271,155 Diversified Telecommunication Services ...... 4,982,308 2,285,763 — 7,268,071 Electric Utilities ...... 5,635,209 2,500,650 — 8,135,859 Electrical Equipment ...... 3,314,663 3,005,454 — 6,320,117 Electronic Equipment, Instruments & Components ...... 4,566,206 1,938,972 — 6,505,178 Energy Equipment & Services ...... 2,632,695 70,630 — 2,703,325 Entertainment ...... 9,525,877 1,229,864 — 10,755,741 Equity Real Estate Investment Trusts ...... 7,127,503 1,560,309 — 8,687,812 Food & Staples Retailing ...... 5,651,912 1,044,405 — 6,696,317 Food Products ...... 2,689,354 4,708,753 — 7,398,107 Gas Utilities ...... 81,196 381,881 — 463,077 Health Care Equipment & Supplies ...... 19,645,210 1,620,561 — 21,265,771 Health Care Providers & Services ...... 13,536,661 43,185 — 13,579,846 Health Care Technology ...... 1,095,268 219,224 — 1,314,492 Hotels, Restaurants & Leisure ...... 6,721,817 1,850,124 — 8,571,941 Household Durables ...... 4,689,395 1,892,397 — 6,581,792 Household Products ...... 8,951,744 1,980,437 — 10,932,181 Independent Power and Renewable Electricity Producers ...... 135,468 68,833 — 204,301 Industrial Conglomerates ...... 7,005,068 1,961,548 — 8,966,616 Insurance ...... 6,641,809 5,135,282 — 11,777,091 Interactive Media & Services ...... 37,334,853 445,221 — 37,780,074 Internet & Direct Marketing Retail ...... 23,697,202 1,127,986 — 24,825,188

§See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-344 Brighthouse Funds Trust I Schroders Global Multi-Asset Portfolio Consolidated§ Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total IT Services ...... $ 31,797,932 $ 641,707 $— $ 32,439,639 Leisure Products ...... 584,741 443,314 — 1,028,055 Life Sciences Tools & Services ...... 5,333,312 601,358 — 5,934,670 Machinery ...... 10,729,335 3,284,579 — 14,013,914 Marine ...... — 766,326 — 766,326 Media ...... 9,891,672 640,157 — 10,531,829 Metals & Mining ...... 4,413,264 6,097,216 — 10,510,480 Multi-Utilities ...... 1,353,594 1,312,461 — 2,666,055 Multiline Retail ...... 2,545,339 844,397 — 3,389,736 Oil, Gas & Consumable Fuels ...... 14,413,737 7,151,055 — 21,564,792 Paper & Forest Products ...... 380,523 321,222 — 701,745 Personal Products ...... 1,142,680 3,796,368 — 4,939,048 Pharmaceuticals ...... 20,621,111 16,935,139 — 37,556,250 Professional Services ...... 857,326 2,692,987 — 3,550,313 Real Estate Management & Development ...... 103,262 2,047,692 — 2,150,954 Road & Rail ...... 7,716,340 267,150 — 7,983,490 Semiconductors & Semiconductor Equipment ...... 31,090,987 6,232,486 — 37,323,473 Software ...... 47,836,091 1,380,721 — 49,216,812 Specialty Retail ...... 13,139,093 1,083,234 — 14,222,327 Technology Hardware, Storage & Peripherals ...... 28,040,965 281,052 — 28,322,017 Textiles, Apparel & Luxury Goods ...... 6,974,133 5,809,415 — 12,783,548 Thrifts & Mortgage Finance ...... 437,280 — — 437,280 Tobacco ...... 4,216,546 1,846,031 — 6,062,577 Trading Companies & Distributors ...... 2,146,689 3,833,775 — 5,980,464 Water Utilities ...... 487,821 — — 487,821 Wireless Telecommunication Services ...... 423,338 2,103,822 — 2,527,160 Total Common Stocks ...... 541,286,271 149,576,257 — 690,862,528 Total Corporate Bonds & Notes* ...... — 574,173,243 — 574,173,243 Preferred Stocks Auto Components ...... — 66,796 — 66,796 Automobiles ...... — 1,369,360 — 1,369,360 Health Care Equipment & Supplies ...... — 114,519 — 114,519 Household Products ...... — 580,476 — 580,476 Water Utilities ...... 39,256 — — 39,256 Total Preferred Stocks ...... 39,256 2,131,151 — 2,170,407 Total Short-Term Investments* ...... — 265,800,392 — 265,800,392 Securities Lending Reinvestments Certificates of Deposit ...... — 8,099,590 — 8,099,590 Repurchase Agreements ...... — 54,005,938 — 54,005,938 Time Deposits ...... — 8,500,000 — 8,500,000 Mutual Funds ...... 21,000,000 — — 21,000,000 Total Securities Lending Reinvestments ...... 21,000,000 70,605,528 — 91,605,528 Total Investments ...... $562,325,527 $1,062,286,571 $— $1,624,612,098 Collateral for Securities Loaned (Liability) ...... $ — $ (91,604,584) $— $ (91,604,584) Forward Contracts Forward Foreign Currency Exchange Contracts (Unrealized Appreciation) ...... $ — $ 1,816,752 $— $ 1,816,752 Forward Foreign Currency Exchange Contracts (Unrealized Depreciation) ...... — (1,712,626) — (1,712,626) Total Forward Contracts ...... $ — $ 104,126 $— $ 104,126 Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 4,746,826 $ — $— $ 4,746,826 Futures Contracts (Unrealized Depreciation) ...... (4,305,286) — — (4,305,286) Total Futures Contracts ...... $ 441,540 $ — $— $ 441,540 Centrally Cleared Swap Contracts Centrally Cleared Swap Contracts (Unrealized Appreciation) ...... $ — $ 6,921,348 $— $ 6,921,348

* See Consolidated Schedule of Investments for additional detailed categorizations. §See Note 2 of the notes to consolidated financial statements. See accompanying notes to consolidated financial statements. BHFTI-345 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—97.1% of Net Assets

Security Description Shares Value Security Description Shares Value

Argentina—0.3% China—(Continued) Globant S.A. (a) ...... 4,800 $ 1,052,064 Anhui Conch Cement Co., Ltd. - Class H ...... 157,000 $ 833,095 Ternium S.A. (ADR) ...... 10,000 384,600 Anhui Expressway Co., Ltd. - Class H ...... 78,000 50,689 1,436,664 ANTA Sports Products, Ltd...... 97,000 2,283,735 Autohome, Inc. (ADR) ...... 4,200 268,632 Brazil—4.6% Baidu, Inc. (ADR) (a) ...... 18,100 3,690,590 Ambev S.A. (ADR) ...... 325,900 1,121,096 BAIOO Family Interactive, Ltd...... 1,064,000 223,371 B3 S.A. - Brasil Bolsa Balcao ...... 438,600 1,483,222 Bank of Chengdu Co., Ltd. - Class A ...... 38,500 75,321 Banco Bradesco S.A...... 77,160 339,121 Bank of China, Ltd. - Class H ...... 2,319,000 832,489 Banco Bradesco S.A. (ADR) ...... 334,214 1,714,518 Bank of Hangzhou Co., Ltd. - Class A ...... 120,800 275,679 Banco BTG Pactual S.A...... 38,100 934,997 Bank of Jiangsu Co., Ltd. - Class A ...... 347,480 381,696 Banco Santander Brasil S.A...... 20,700 168,553 Bank of Nanjing Co., Ltd. - Class A ...... 54,000 87,920 Banco Santander Brasil S.A. (ADR) ...... 133,500 1,094,700 Bank of Shanghai Co., Ltd. - Class A ...... 66,100 83,891 BB Seguridade Participacoes S.A...... 186,400 865,704 Baoshan Iron & Steel Co., Ltd. - Class A ...... 140,100 165,713 BRF S.A. (a) ...... 96,700 531,346 BeiGene, Ltd. (ADR) (a) ...... 1,100 377,509 Cia de Saneamento de Minas Gerais-COPASA ...... 45,700 142,324 BGI Genomics Co., Ltd. - Class A ...... 10,500 192,759 Cia de Saneamento do Parana ...... 115,400 481,897 Bilibili, Inc. (ADR) (a) ...... 1,500 182,760 Cia Siderurgica Nacional S.A...... 12,000 106,132 BOE Technology Group Co., Ltd. - Class A ...... 145,700 140,763 Cosan S.A...... 50,800 244,716 Brilliance China Automotive Holdings, Ltd. (c) (d) ...... 818,000 576,813 Cosan S.A. (ADR) ...... 35,866 682,171 BYD Co., Ltd. - Class A ...... 3,100 120,673 CPFL Energia S.A...... 51,400 278,092 BYD Co., Ltd. - Class H ...... 33,000 986,987 Cyrela Brazil Realty S.A. Empreendimentos e Participacoes ...... 26,300 123,415 BYD Electronic International Co., Ltd...... 154,000 1,011,553 Duratex S.A...... 29,400 140,681 Cango, Inc. (ADR) ...... 24,700 138,073 Energisa S.A...... 61,100 572,452 Changzhou Xingyu Automotive Lighting Systems Co., Ltd. - Instituto Hermes Pardini S.A...... 40,300 170,152 Class A ...... 2,900 101,308 Itau Unibanco Holding S.A. (ADR) ...... 129,400 777,694 China BlueChemical, Ltd. - Class H ...... 454,000 132,736 JBS S.A...... 229,900 1,345,066 China Coal Energy Co., Ltd. - Class H ...... 170,000 101,374 Localiza Rent a Car S.A...... 25,700 330,693 China Construction Bank Corp. - Class A ...... 260,600 268,225 Magazine Luiza S.A...... 25,900 110,134 China Construction Bank Corp. - Class H ...... 5,608,000 4,405,109 Notre Dame Intermedica Participacoes S.A...... 64,400 1,099,661 China Everbright, Ltd...... 12,241 14,410 Petrobras Distribuidora S.A...... 41,400 222,074 China Galaxy Securities Co., Ltd. - Class H ...... 504,500 300,843 Petroleo Brasileiro S.A...... 79,400 483,539 China Hongqiao Group, Ltd...... 553,500 750,016 Petroleo Brasileiro S.A. (ADR) ...... 49,000 599,270 China International Marine Containers Group Co., Ltd. - Class A . . . 50,900 143,334 Sao Martinho S.A...... 152,300 1,106,623 China Lesso Group Holdings, Ltd...... 436,000 1,075,946 TIM S.A...... 32,000 74,181 China Life Insurance Co., Ltd. - Class H ...... 304,000 601,995 TIM S.A. (ADR) ...... 7,600 87,552 China Literature, Ltd. (a) ...... 11,600 129,014 Ultrapar Participacoes S.A...... 168,300 622,268 China Longyuan Power Group Corp., Ltd. - Class H ...... 511,000 880,652 Vale S.A...... 87,500 1,992,315 China Maple Leaf Educational Systems, Ltd. (a) (b) ...... 738,000 199,606 Vale S.A. (ADR) ...... 109,200 2,490,852 China Medical System Holdings, Ltd...... 456,000 1,201,092 China Meidong Auto Holdings, Ltd...... 26,000 141,816 22,537,211 China Mengniu Dairy Co., Ltd. (a) ...... 16,000 96,753 China Merchants Bank Co., Ltd. - Class A ...... 96,800 812,029 Chile—0.2% China Merchants Bank Co., Ltd. - Class H ...... 333,500 2,845,736 Banco de Credito e Inversiones S.A...... 1,742 73,536 China National Building Material Co., Ltd. - Class H ...... 568,000 667,177 Cencosud S.A...... 32,961 65,577 Cia Cervecerias Unidas S.A...... 35,039 353,071 China New Higher Education Group, Ltd...... 275,000 188,435 Colbun S.A...... 841,893 117,631 China Overseas Land & Investment, Ltd. (b) ...... 193,000 438,496 Empresas COPEC S.A...... 33,971 334,441 China Petroleum & Chemical Corp. - Class H ...... 1,770,000 897,671 Falabella S.A...... 38,726 172,376 China Resources Beer Holdings Co., Ltd...... 18,000 161,514 China Resources Power Holdings Co., Ltd...... 410,000 559,748 1,116,632 China Shenhua Energy Co., Ltd. - Class A ...... 126,911 383,480 China Shenhua Energy Co., Ltd. - Class H ...... 477,000 935,070 China—36.0% China Tourism Group Duty Free Corp., Ltd. - Class A ...... 4,300 199,810 3SBio, Inc. (a) (b) ...... 767,000 948,356 China Traditional Chinese Medicine Holdings Co., Ltd...... 218,000 148,876 AAC Technologies Holdings, Inc...... 50,500 377,903 China Vanke Co., Ltd. - Class H ...... 311,200 973,965 Agile Group Holdings, Ltd...... 322,000 417,214 China Yangtze Power Co., Ltd. - Class A ...... 114,300 365,124 Alibaba Group Holding, Ltd. (a) ...... 844,000 23,912,885 China Yongda Automobiles Services Holdings, Ltd...... 347,000 621,215 Alibaba Health Information Technology, Ltd. (a) ...... 66,000 146,386 China Yuhua Education Corp., Ltd. (b) ...... 148,000 134,005 Anhui Conch Cement Co., Ltd. - Class A ...... 5,100 32,408 Chongqing Brewery Co., Ltd. - Class A (a) ...... 26,000 796,535

See accompanying notes to financial statements. BHFTI-346 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

China—(Continued) China—(Continued) Chongqing Zhifei Biological Products Co., Ltd. - Class A ...... 16,200 $ 468,540 Lenovo Group, Ltd. (b) ...... 1,206,000 $ 1,387,064 CITIC Telecom International Holdings, Ltd...... 457,000 151,091 Li Ning Co., Ltd...... 111,000 1,355,386 CITIC, Ltd...... 364,000 392,509 Livzon Pharmaceutical Group, Inc. - Class H ...... 70,300 345,714 Contemporary Amperex Technology Co., Ltd. - Class A ...... 7,800 646,020 Logan Group Co., Ltd. (b) ...... 411,000 615,113 COSCO SHIPPING Holdings Co., Ltd. - Class A (a) ...... 64,400 304,605 Longfor Group Holdings, Ltd. (144A) ...... 222,000 1,243,837 COSCO SHIPPING Holdings Co., Ltd. - Class H (a) ...... 294,000 740,739 Lonking Holdings, Ltd...... 756,000 244,396 Country Garden Services Holdings Co., Ltd...... 21,000 226,937 Luxi Chemical Group Co., Ltd. - Class A ...... 72,600 210,516 CSPC Pharmaceutical Group, Ltd...... 932,240 1,349,611 Luye Pharma Group, Ltd. (b) ...... 432,000 284,317 Da An Gene Co., Ltd. of Sun Yat-Sen University - Class A ...... 26,880 88,375 Luzhou Laojiao Co., Ltd. - Class A ...... 22,200 811,094 Dali Foods Group Co., Ltd...... 422,000 251,648 Mango Excellent Media Co., Ltd. - Class A ...... 6,788 72,088 Daqo New Energy Corp. (ADR) (a) ...... 2,000 130,040 Meituan - Class B (a) ...... 212,300 8,768,323 ENN Energy Holdings, Ltd...... 31,900 607,260 Momo, Inc. (ADR) ...... 36,800 563,408 Ever Sunshine Lifestyle Services Group, Ltd...... 26,000 64,565 Nanjing Iron & Steel Co., Ltd. - Class A ...... 448,000 247,330 Far East Horizon, Ltd...... 425,000 444,242 NetEase, Inc. (ADR) ...... 28,900 3,330,725 Fosun International, Ltd...... 380,000 546,631 New Oriental Education & Technology Group, Inc. (ADR) (a) ..... 36,500 298,935 G-bits Network Technology Xiamen Co., Ltd. - Class A ...... 2,144 175,861 NIO, Inc. (ADR) (a) ...... 63,400 3,372,880 Geely Automobile Holdings, Ltd...... 373,000 1,171,396 Pharmaron Beijing Co., Ltd. - Class H ...... 50,600 1,349,118 GF Securities Co., Ltd. - Class H ...... 300,600 389,127 PICC Property & Casualty Co., Ltd. - Class H ...... 452,000 395,377 Great Wall Motor Co., Ltd. - Class H (b) ...... 341,000 1,101,011 Pinduoduo, Inc. (ADR) (a) ...... 20,700 2,629,314 GSX Techedu, Inc. (ADR) (a) ...... 1,700 25,109 Ping An Bank Co., Ltd. - Class A ...... 93,559 327,607 Guanghui Energy Co., Ltd. - Class A (a) ...... 138,100 71,256 Ping An Insurance Group Co. of China, Ltd. - Class A ...... 18,700 186,072 Guangzhou Kingmed Diagnostics Group Co., Ltd. - Class A ...... 7,700 190,455 Ping An Insurance Group Co. of China, Ltd. - Class H ...... 411,500 4,017,449 Haidilao International Holding, Ltd. (144A) (b) ...... 14,000 73,751 Powerlong Real Estate Holdings, Ltd...... 214,000 183,839 Haier Smart Home Co., Ltd. - Class A ...... 81,300 326,234 Proya Cosmetics Co., Ltd. - Class A ...... 13,145 400,173 Haier Smart Home Co., Ltd. - Class H (a) ...... 16,400 57,244 Q Technology Group Co., Ltd. (b) ...... 107,000 219,403 Haitian International Holdings, Ltd...... 251,000 842,130 RLX Technology, Inc. (ADR) (a) (b) ...... 12,600 109,998 Hangzhou Tigermed Consulting Co., Ltd. - Class A ...... 24,953 746,837 SDIC Power Holdings Co., Ltd. - Class A ...... 418,300 622,135 Hengan International Group Co., Ltd...... 151,500 1,014,651 Shaanxi Coal Industry Co., Ltd. - Class A ...... 525,500 964,214 Hengli Petrochemical Co., Ltd. - Class A ...... 125,500 509,909 Shandong Buchang Pharmaceuticals Co., Ltd. - Class A ...... 53,892 187,486 Huadong Medicine Co., Ltd. - Class A ...... 28,900 205,859 Shandong Chenming Paper Holdings, Ltd. - Class A ...... 46,800 58,971 Hualan Biological Engineering, Inc. - Class A ...... 11,591 65,826 Shandong Chenming Paper Holdings, Ltd. - Class H (b) ...... 150,000 93,512 Huaxin Cement Co., Ltd. - Class A ...... 56,300 153,104 Shandong Hualu Hengsheng Chemical Co., Ltd. - Class A ...... 20,180 96,708 Huayu Automotive Systems Co., Ltd. - Class A ...... 55,168 224,407 Shandong Linglong Tyre Co., Ltd. - Class A ...... 14,800 100,211 Hunan Valin Steel Co., Ltd. - Class A ...... 459,680 470,902 Shandong Sinocera Functional Material Co., Ltd. - Class A ...... 6,600 49,804 Industrial & Commercial Bank of China, Ltd. - Class A ...... 216,000 172,835 Shandong Sun Paper Industry JSC, Ltd. - Class A ...... 192,700 398,245 Industrial & Commercial Bank of China, Ltd. - Class H ...... 4,239,000 2,487,052 Shandong Weigao Group Medical Polymer Co., Ltd. - Class H ..... 28,000 65,348 Industrial Bank Co., Ltd. - Class A ...... 155,400 493,921 Shanghai Bairun Investment Holding Group Co., Ltd. - Class A .... 15,260 223,973 Industrial Securities Co., Ltd. - Class A ...... 104,900 156,566 Shanghai Fosun Pharmaceutical Group Co., Ltd. - Class H (b) ..... 115,000 928,733 Inke, Ltd. (a) ...... 264,000 74,807 Shanghai Jahwa United Co., Ltd. - Class A ...... 11,900 110,770 Inner Mongolia Eerduosi Resources Co., Ltd. - Class A ...... 30,700 85,038 Shanghai Pharmaceuticals Holding Co., Ltd. - Class H ...... 79,100 172,121 Jafron Biomedical Co., Ltd. - Class A ...... 9,700 129,661 Shanxi Coking Coal Energy Group Co., Ltd. - Class A ...... 349,360 449,482 JD Health International, Inc. (144A) (a) (b) ...... 30,900 442,990 Shanxi Xinghuacun Fen Wine Factory Co., Ltd. - Class A ...... 8,300 575,816 JD.com, Inc. (ADR) (a) ...... 50,000 3,990,500 Shenzhen Energy Group Co., Ltd. - Class A ...... 10,672 15,146 Jiangsu Expressway Co., Ltd. - Class H ...... 362,000 409,828 Shenzhen International Holdings, Ltd...... 229,813 317,709 Jiangsu Yangnong Chemical Co., Ltd. - Class A ...... 9,600 166,288 Shenzhen Kangtai Biological Products Co., Ltd. - Class A ...... 3,430 79,136 Jiayuan International Group, Ltd...... 168,000 71,403 Shenzhen Mindray Bio-Medical Electronics Co., Ltd. - Class A ..... 9,000 668,938 JiuGui Liquor Co., Ltd. - Class A ...... 5,000 197,938 Shenzhou International Group Holdings, Ltd...... 10,500 265,209 Jiumaojiu International Holdings, Ltd...... 96,000 392,566 Shimao Group Holdings, Ltd...... 24,000 58,854 Joincare Pharmaceutical Group Industry Co., Ltd. - Class A ...... 75,599 160,672 Sinopharm Group Co., Ltd. - Class H ...... 174,800 520,072 Jointown Pharmaceutical Group Co., Ltd. - Class A ...... 146,500 348,483 Sinotrans, Ltd. - Class A ...... 593,700 464,085 JOYY, Inc...... 6,700 441,999 Sinotrans, Ltd. - Class H ...... 1,454,000 604,892 KE Holdings, Inc. (ADR) (a) ...... 3,200 152,576 Sinotruk Hong Kong, Ltd...... 329,000 705,113 Kingboard Holdings, Ltd...... 52,500 291,430 SITC International Holdings Co., Ltd...... 278,000 1,161,920 Kuaishou Technology (144A) (a) ...... 1,400 35,125 Sohu.com, Ltd. (ADR) (a) ...... 15,900 295,740 Kunlun Energy Co., Ltd...... 828,000 763,556 Sun Art Retail Group, Ltd. (b) ...... 430,500 320,478 Kweichow Moutai Co., Ltd. - Class A ...... 3,200 1,019,008 Sunny Optical Technology Group Co., Ltd...... 39,900 1,257,713 Lee & Man Paper Manufacturing, Ltd...... 293,000 223,025 TCL Technology Group Corp. - Class A ...... 222,500 263,529

See accompanying notes to financial statements. BHFTI-347 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

China—(Continued) Egypt—0.1% Tencent Holdings, Ltd...... 329,700 $ 24,799,749 Eastern Co. S.A.E...... 103,095 $ 77,839 Tian Ge Interactive Holdings, Ltd. (a) ...... 66,231 9,298 Egyptian Financial Group-Hermes Holding Co. (a) ...... 22,018 18,550 Tianli Education International Holdings, Ltd. (a) ...... 365,000 139,197 ElSewedy Electric Co...... 254,173 137,197 Tianneng Power International, Ltd...... 212,000 370,795 Medinet Nasr Housing ...... 175,426 37,770 Tingyi Cayman Islands Holding Corp...... 7,876 15,723 271,356 Tongcheng-Elong Holdings, Ltd. (a) ...... 76,800 192,298 Tongkun Group Co., Ltd. - Class A ...... 27,260 101,656 Greece—0.3% Topchoice Medical Corp. - Class A (a) ...... 3,600 229,064 Hellenic Telecommunications Organization S.A...... 58,310 978,768 Topsports International Holdings, Ltd...... 41,000 67,172 Mytilineos S.A...... 15,601 283,960 Trip.com Group, Ltd. (ADR) (a) ...... 6,800 241,128 OPAP S.A...... 21,901 330,202 Tsingtao Brewery Co., Ltd. - Class H ...... 46,000 494,822 Uni-President China Holdings, Ltd...... 249,000 274,843 1,592,930 Vipshop Holdings, Ltd. (ADR) (a) ...... 25,600 514,048 Virscend Education Co., Ltd...... 216,000 30,323 Hong Kong—0.8% Wangfujing Group Co., Ltd. - Class A ...... 10,000 44,697 Bosideng International Holdings, Ltd. (b) ...... 1,832,000 1,309,581 Want Want China Holdings, Ltd. (b) ...... 1,416,000 1,003,070 China High Speed Transmission Equipment Group Co., Ltd. (a) .... 535,000 339,709 Weibo Corp. (ADR) (a) (b) ...... 5,700 299,934 Huabao International Holdings, Ltd...... 170,000 409,892 Weichai Power Co., Ltd. - Class A ...... 39,300 108,748 Kingboard Laminates Holdings, Ltd...... 482,000 1,079,960 Weichai Power Co., Ltd. - Class H ...... 408,000 906,982 Nine Dragons Paper Holdings, Ltd...... 263,000 337,387 Weifu High-Technology Group Co., Ltd. - Class A ...... 64,100 206,677 Sino Biopharmaceutical, Ltd...... 87,000 85,386 Wuhu Sanqi Interactive Entertainment Network Technology Group United Laboratories International Holdings, Ltd. (The) ...... 184,000 150,755 Co., Ltd. - Class A ...... 32,700 121,578 Vinda International Holdings, Ltd. (b) ...... 112,000 344,757 Wuliangye Yibin Co., Ltd. - Class A ...... 15,300 705,729 WH Group, Ltd...... 41,500 37,309 WuXi AppTec Co., Ltd. - Class H (b) ...... 25,600 597,805 4,094,736 Wuxi Biologics Cayman, Inc. (144A) (a) ...... 128,000 2,346,085 XD, Inc. (a) (b) ...... 14,000 123,524 Hungary—0.2% Xiaomi Corp. - Class B (144A) (a) ...... 553,000 1,925,125 Magyar Telekom Telecommunications plc ...... 42,755 61,595 Xinxing Ductile Iron Pipes Co., Ltd. - Class A ...... 584,200 336,378 OTP Bank Nyrt (a) ...... 1,420 76,465 Xinyi Solar Holdings, Ltd...... 134,000 289,278 Richter Gedeon Nyrt ...... 39,414 1,049,387 XPeng, Inc. (ADR) (a) ...... 3,000 133,260 Yadea Group Holdings, Ltd...... 496,000 1,066,867 1,187,447 YuanShengTai Dairy Farm, Ltd. (a) ...... 953,000 70,029 Yuexiu Property Co., Ltd...... 149,600 157,613 India—9.8% Yum China Holdings, Inc...... 27,200 1,802,000 Adani Ports & Special Economic Zone, Ltd...... 105,411 1,000,063 Yutong Bus Co., Ltd. - Class A ...... 24,600 47,554 Ambuja Cements, Ltd...... 17,608 80,669 Zai Lab, Ltd. (ADR) (a) ...... 2,800 495,572 Apollo Tyres, Ltd. (a) ...... 170,247 516,103 Zhejiang Century Huatong Group Co., Ltd. - Class A (a) ...... 52,080 51,755 Axis Bank, Ltd. (a) ...... 34,865 351,708 Zhejiang Jiahua Energy Chemical Industry Co., Ltd. - Class A ..... 338,900 456,435 Bajaj Auto, Ltd. (a) ...... 6,108 340,340 Zhongsheng Group Holdings, Ltd...... 150,500 1,252,222 Bajaj Finance, Ltd. (a) ...... 1,701 137,637 Zijin Mining Group Co., Ltd. - Class H ...... 148,000 199,028 Bajaj Finserv, Ltd. (a) ...... 8,691 1,414,284 Balkrishna Industries, Ltd...... 18,235 551,938 174,717,727 Bharat Electronics, Ltd...... 456,110 1,098,621 Bharat Petroleum Corp., Ltd...... 53,026 334,440 Colombia—0.1% Bharti Airtel, Ltd...... 13,145 93,419 Ecopetrol S.A...... 288,427 209,192 Birlasoft, Ltd...... 108,404 582,872 Interconexion Electrica S.A. ESP ...... 16,002 94,443 Bombay Burmah Trading Co...... 6,950 124,121 303,635 Cadila Healthcare, Ltd. (a) ...... 111,856 972,234 Chambal Fertilizers and Chemicals, Ltd...... 25,679 105,486 Czech Republic—0.1% Cyient, Ltd...... 65,041 755,570 Komercni Banka A/S (a) ...... 1,624 57,165 DCM Shriram, Ltd...... 24,986 306,382 Moneta Money Bank AS (a) ...... 75,015 284,949 Divi’s Laboratories, Ltd. (a) ...... 22,240 1,318,440 O2 Czech Republic A.S...... 4,961 60,899 EID Parry India, Ltd. (a) ...... 13,633 78,391 Philip Morris CR A/S ...... 106 70,389 Emami, Ltd...... 31,854 239,220 Engineers India, Ltd...... 45,586 48,816 473,402 Firstsource Solutions, Ltd...... 81,763 207,509 GAIL India, Ltd...... 510,256 1,028,747 Glenmark Pharmaceuticals, Ltd...... 33,640 294,976

See accompanying notes to financial statements. BHFTI-348 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

India—(Continued) Indonesia—(Continued) Grasim Industries, Ltd...... 15,040 $ 303,844 Indofood Sukses Makmur Tbk PT ...... 634,000 $ 270,003 Gujarat State Petronet, Ltd...... 26,386 118,995 Japfa Comfeed Indonesia Tbk PT ...... 1,385,500 165,310 HCL Technologies, Ltd...... 134,103 1,778,918 Telkom Indonesia Persero Tbk PT (ADR) ...... 28,800 624,096 Hindalco Industries, Ltd...... 192,340 964,675 United Tractors Tbk PT ...... 44,900 62,708 Hindustan Petroleum Corp., Ltd...... 32,776 129,612 5,370,751 Hindustan Unilever, Ltd...... 17,095 569,708 Hindustan Zinc, Ltd...... 31,159 141,908 Malaysia—0.9% Housing Development Finance Corp., Ltd...... 68,576 2,290,234 AMMB Holdings Bhd ...... 207,700 147,719 ICICI Bank, Ltd. (a) ...... 235,714 2,005,891 Astro Malaysia Holdings Bhd ...... 368,000 101,988 Indus Towers, Ltd...... 89,557 288,818 Bumi Armada Bhd (a) ...... 1,729,700 188,734 Infosys, Ltd. (ADR) ...... 231,700 4,909,723 Fraser & Neave Holdings Bhd ...... 753 4,793 Ipca Laboratories, Ltd...... 5,338 145,750 Hartalega Holdings Bhd ...... 50,800 89,919 ITC, Ltd...... 18,465 50,377 Hong Leong Financial Group Bhd ...... 20,100 86,172 JB Chemicals & Pharmaceuticals, Ltd...... 5,167 115,681 Kossan Rubber Industries ...... 311,100 241,193 JK Lakshmi Cement, Ltd. (a) ...... 10,953 85,342 Mah Sing Group Bhd ...... 450,200 91,682 JSW Steel, Ltd...... 136,576 1,261,907 MISC Bhd ...... 72,300 118,127 Kalpataru Power Transmission, Ltd...... 26,016 149,378 Petronas Gas Bhd ...... 48,300 180,256 Kaveri Seed Co., Ltd...... 10,900 106,923 Public Bank Bhd ...... 98,500 97,526 Kotak Mahindra Bank, Ltd. (a) ...... 1,481 33,996 RHB Bank Bhd ...... 495,400 644,753 LIC Housing Finance, Ltd...... 157,133 995,604 Sime Darby Bhd ...... 1,055,600 554,360 Manappuram Finance, Ltd...... 19,672 44,728 Supermax Corp. Bhd ...... 280,683 222,992 Marico, Ltd...... 43,083 308,084 Telekom Malaysia Bhd ...... 691,900 1,012,063 Muthoot Finance, Ltd...... 43,804 871,737 Top Glove Corp. Bhd ...... 451,100 453,308 NCC, Ltd...... 357,543 419,370 Westports Holdings Bhd ...... 44,200 44,820 NHPC, Ltd...... 449,170 159,114 YTL Power International Bhd ...... 104,136 17,428 NMDC, Ltd...... 148,990 371,045 Oil & Natural Gas Corp., Ltd...... 218,272 347,735 4,297,833 Petronet LNG, Ltd...... 15,492 47,276 Power Grid Corp. of India, Ltd...... 429,410 1,343,120 Mexico—1.6% REC, Ltd...... 534,939 1,072,410 America Movil S.A.B. de C.V. -Series L ...... 2,952,573 2,221,762 Reliance Industries, Ltd...... 129,846 3,694,975 Arca Continental S.A.B. de C.V...... 103,800 600,701 Shriram Transport Finance Co., Ltd...... 55,163 997,523 Bolsa Mexicana de Valores S.A.B. de C.V...... 41,700 92,044 Sonata Software, Ltd...... 12,080 121,563 Fibra Uno Administracion S.A. de C.V...... 435,500 469,712 State Bank of India ...... 145,187 819,784 GMexico Transportes S.A.B. de C.V. (b) ...... 42,500 72,084 Sun Pharmaceutical Industries, Ltd...... 11,764 106,792 Gruma S.A.B. de C.V. - Class B ...... 34,535 388,177 Sun TV Network, Ltd...... 91,007 648,335 Grupo Bimbo S.A.B. de C.V. -Series A ...... 73,700 162,307 Tata Chemicals, Ltd...... 76,954 749,806 Grupo Comercial Chedraui S.A. de C.V...... 42,700 68,375 Tech Mahindra, Ltd...... 108,092 1,596,029 Grupo Financiero Banorte S.A.B. de C.V. - Class O ...... 248,300 1,598,866 Torrent Power, Ltd...... 147,515 911,217 Grupo Mexico S.A.B. de C.V. - Series B ...... 253,900 1,196,771 UPL, Ltd...... 115,598 1,236,141 Kimberly-Clark de Mexico S.A.B. de C.V. - Class A ...... 136,000 241,585 Vedanta, Ltd...... 48,071 170,719 Macquarie Mexico Real Estate Management S.A. de C.V...... 21,972 27,181 Vedanta, Ltd. (ADR) ...... 30,900 438,780 Orbia Advance Corp. S.A.B. de C.V...... 304,100 794,956 Welspun India, Ltd...... 136,255 176,910 7,934,521 Wipro, Ltd...... 216,450 1,592,073 Wipro, Ltd. (ADR) ...... 120,400 940,324 Philippines—0.5% 47,614,860 Filinvest Land, Inc...... 2,072,000 46,681 First Gen Corp...... 70,600 43,390 Indonesia—1.1% Globe Telecom, Inc...... 9,810 368,659 Adaro Energy Tbk PT ...... 359,062 29,840 International Container Terminal Services, Inc...... 171,860 575,353 AKR Corporindo Tbk PT ...... 576,600 125,265 LT Group, Inc...... 243,200 64,267 Astra International Tbk PT ...... 1,020,700 347,742 Manila Electric Co...... 49,830 282,946 Bank Central Asia Tbk PT ...... 473,100 982,934 Nickel Asia Corp...... 749,500 84,586 Bank Mandiri Persero Tbk PT ...... 2,730,900 1,108,968 PLDT, Inc...... 26,395 699,179 Bank Negara Indonesia Persero Tbk PT ...... 358,400 114,266 Semirara Mining & Power Corp...... 284,500 85,899 Bank Rakyat Indonesia Persero Tbk PT ...... 5,167,600 1,404,162 2,250,960 Indo Tambangraya Megah Tbk PT ...... 138,000 135,457

See accompanying notes to financial statements. BHFTI-349 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Poland—0.6% Saudi Arabia—(Continued) Allegro.eu S.A. (144A) (a) ...... 9,782 $ 168,371 Saudi Industrial Investment Group ...... 85,545 $ 798,633 Asseco Poland S.A...... 8,950 181,117 Saudi National Bank (The) ...... 88,169 1,354,232 Bank Polska Kasa Opieki S.A. (a) ...... 22,125 539,841 Saudi Telecom Co...... 45,261 1,588,405 Cyfrowy Polsat S.A...... 56,230 441,635 United Electronics Co...... 18,353 651,066 Dino Polska S.A. (a) ...... 2,604 191,214 United International Transportation Co...... 36,473 438,611 Polskie Gornictwo Naftowe i Gazownictwo S.A...... 355,945 623,054 Yanbu National Petrochemical Co...... 14,561 281,838 Powszechna Kasa Oszczednosci Bank Polski S.A. (a) ...... 89,419 887,496 15,113,749 3,032,728 Singapore—0.2% Qatar—0.4% BOC Aviation, Ltd...... 84,300 711,159 Masraf Al Rayan QSC ...... 621,839 761,767 Ooredoo QPSC ...... 65,929 132,162 South Africa—3.4% Qatar Electricity & Water Co. QSC ...... 39,194 179,372 Absa Group, Ltd. (a) ...... 57,173 543,076 Qatar Gas Transport Co., Ltd...... 165,189 136,151 African Rainbow Minerals, Ltd...... 18,469 330,561 Qatar International Islamic Bank QSC ...... 23,669 60,545 Anglo American Platinum, Ltd...... 3,900 450,684 Qatar Islamic Bank SAQ ...... 92,282 438,233 AngloGold Ashanti, Ltd...... 3,371 62,567 Qatar National Bank QPSC ...... 60,312 297,379 Coronation Fund Managers, Ltd...... 127,101 431,768 2,005,609 Exxaro Resources, Ltd...... 11,033 130,145 FirstRand, Ltd...... 47,156 177,042 Russia—3.0% Gold Fields, Ltd...... 40,523 362,901 Evraz plc ...... 103,232 847,144 Impala Platinum Holdings, Ltd...... 68,596 1,133,618 Gazprom PJSC (ADR) ...... 9,700 74,108 Kumba Iron Ore, Ltd...... 18,926 848,808 Gazprom PJSC (ADR) ...... 192,233 1,469,644 Life Healthcare Group Holdings, Ltd. (a) ...... 49,524 78,790 LUKOIL PJSC (ADR) ...... 30,903 2,869,955 Motus Holdings, Ltd...... 19,467 127,222 Magnit PJSC (GDR) ...... 23,978 347,976 Mr. Price Group, Ltd. (b) ...... 22,345 329,266 MMC Norilsk Nickel PJSC (ADR) ...... 9,141 311,604 MTN Group (a) ...... 47,835 345,650 Mobile TeleSystems PJSC (ADR) ...... 126,600 1,172,316 MultiChoice Group ...... 33,772 277,642 Novolipetsk Steel PJSC (GDR) ...... 13,598 428,681 Naspers, Ltd. - N Shares ...... 23,616 4,961,098 PhosAgro PJSC (GDR) ...... 43,539 881,432 Northam Platinum, Ltd. (a) ...... 23,724 360,458 Rosneft Oil Co. PJSC (GDR) ...... 77,745 603,249 Old Mutual, Ltd...... 798,525 754,502 Sberbank of Russia PJSC (ADR) ...... 178,524 2,962,082 PSG Group, Ltd...... 23,723 132,228 Sberbank of Russia PJSC (ADR) ...... 41,346 690,065 Reunert, Ltd...... 45,892 162,997 Severstal PAO (GDR) ...... 23,598 507,800 Shoprite Holdings, Ltd...... 105,973 1,153,323 Tatneft PJSC (ADR) ...... 7,842 343,022 Sibanye Stillwater, Ltd...... 311,297 1,302,520 X5 Retail Group NV (GDR) ...... 23,631 829,031 Standard Bank Group, Ltd...... 53,301 476,457 Tiger Brands, Ltd. (b) ...... 26,470 387,475 14,338,109 Vodacom Group, Ltd. (b) ...... 68,280 615,625 Woolworths Holdings, Ltd. (a) ...... 154,069 581,782 Saudi Arabia—3.1% Abdullah Al Othaim Markets Co...... 10,190 336,917 16,518,205 Advanced Petrochemical Co...... 27,898 537,541 Al Rajhi Bank ...... 98,132 2,904,484 South Korea—12.8% Alinma Bank ...... 65,939 369,888 AMOREPACIFIC Group ...... 2,145 121,922 Arab National Bank ...... 51,460 311,459 Celltrion, Inc. (a) ...... 2,800 667,712 Arriyadh Development Co...... 143,126 933,589 Cheil Worldwide, Inc...... 22,397 500,276 Bank Al-Jazira (a) ...... 232,948 1,148,970 Chong Kun Dang Pharmaceutical Corp...... 1,445 175,370 Banque Saudi Fransi ...... 43,285 443,236 CJ CheilJedang Corp...... 1,028 420,917 Jarir Marketing Co...... 7,212 406,140 Com2uSCorp ...... 5,831 640,582 Mouwasat Medical Services Co...... 3,624 174,115 Daishin Securities Co., Ltd...... 21,865 383,525 National Medical Care Co...... 3,401 61,663 DB HiTek Co., Ltd...... 10,316 571,867 National Petrochemical Co...... 12,061 141,481 DB Insurance Co., Ltd...... 8,849 430,652 Qassim Cement Co. (The) ...... 12,489 286,524 DoubleUGames Co., Ltd...... 3,107 164,734 Riyad Bank ...... 73,047 516,202 E-MART, Inc...... 7,186 1,021,165 Sahara International Petrochemical Co...... 38,718 316,513 Fila Holdings Corp...... 9,883 510,889 Saudi Arabian Oil Co...... 23,543 220,323 Green Cross Corp...... 1,400 408,433 Saudi Basic Industries Corp...... 27,463 891,919 Green Cross Holdings Corp...... 3,469 105,001 GS Engineering & Construction Corp...... 4,108 156,534

See accompanying notes to financial statements. BHFTI-350 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

South Korea—(Continued) Taiwan—(Continued) GS Home Shopping, Inc...... 4,821 $ 697,321 Cathay Financial Holding Co., Ltd...... 937,251 $ 1,811,480 Hana Financial Group, Inc...... 30,099 1,229,624 Cheng Loong Corp...... 394,000 685,832 HMM Co., Ltd. (a) ...... 3,444 134,291 Cheng Shin Rubber Industry Co., Ltd...... 468,000 785,249 Huons Co., Ltd...... 774 42,758 China Life Insurance Co., Ltd...... 187,000 176,980 Hyosung TNC Corp...... 723 577,988 Chipbond Technology Corp...... 37,000 95,511 Hyundai Engineering & Construction Co., Ltd...... 3,321 171,971 ChipMOS Technologies, Inc...... 292,000 499,343 Hyundai Glovis Co., Ltd...... 5,509 1,022,653 Coretronic Corp...... 60,000 131,874 Hyundai Home Shopping Network Corp...... 1,412 113,357 CTBC Financial Holding Co., Ltd...... 2,198,000 1,787,309 Hyundai Mobis Co., Ltd...... 3,127 810,993 Delta Electronics, Inc...... 27,000 293,151 Hyundai Motor Co...... 8,477 1,803,303 Far Eastern Department Stores, Ltd...... 146,000 119,183 i-SENS, Inc...... 2,515 68,013 Far Eastern International Bank ...... 156,180 59,417 Kakao Corp...... 12,223 1,768,825 Far Eastern New Century Corp...... 54,000 62,019 KB Financial Group, Inc...... 41,876 2,071,658 First Financial Holding Co., Ltd...... 833,171 678,797 KEPCO Plant Service & Engineering Co., Ltd...... 6,230 237,088 Fubon Financial Holding Co., Ltd...... 747,000 1,977,549 Kia Corp...... 27,423 2,182,442 Gamania Digital Entertainment Co., Ltd...... 33,000 75,518 KIWOOM Securities Co., Ltd...... 619 72,029 Giant Manufacturing Co., Ltd...... 59,642 681,776 Kolon Industries, Inc...... 6,109 438,430 Great Wall Enterprise Co., Ltd...... 55,000 118,434 Korea Investment Holdings Co., Ltd...... 2,864 262,022 Ho Tung Chemical Corp. (a) ...... 236,000 103,759 Korea Petrochemical Ind Co., Ltd...... 133 28,117 Holtek Semiconductor, Inc...... 26,000 93,315 Korea Real Estate Investment & Trust Co., Ltd...... 29,637 62,114 Hon Hai Precision Industry Co., Ltd...... 916,000 3,682,082 KT&G Corp...... 15,525 1,163,414 Huaku Development Co., Ltd...... 33,000 100,608 Kumho Petrochemical Co., Ltd...... 5,776 1,123,632 Kindom Development Co., Ltd...... 231,000 324,167 LG Chem, Ltd...... 1,875 1,415,494 King’s Town Bank Co., Ltd...... 296,000 423,012 LG Electronics, Inc...... 12,717 1,845,465 Kung Long Batteries Industrial Co., Ltd...... 7,000 37,800 LG Innotek Co., Ltd...... 5,943 1,177,209 Lite-On Technology Corp...... 546,000 1,128,743 LS Electric Co., Ltd...... 909 45,129 MediaTek, Inc...... 100,000 3,452,669 Mirae Asset Securities Co., Ltd...... 95,568 800,463 Micro-Star International Co., Ltd...... 88,000 496,868 NAVER Corp...... 4,044 1,499,593 momo.com, Inc...... 8,000 540,903 NH Investment & Securities Co., Ltd...... 32,191 368,830 Nien Made Enterprise Co., Ltd...... 23,000 341,407 Osstem Implant Co., Ltd...... 4,035 407,443 Novatek Microelectronics Corp...... 84,000 1,504,388 POSCO ...... 2,204 678,253 Phison Electronics Corp...... 7,000 120,592 Posco International Corp...... 8,319 172,268 Pou Chen Corp...... 636,000 897,735 Samjin Pharmaceutical Co., Ltd...... 5,071 124,522 Powertech Technology, Inc...... 217,000 837,852 Samsung C&T Corp...... 3,561 431,735 Quanta Computer, Inc...... 258,000 810,229 Samsung Electro-Mechanics Co., Ltd...... 8,449 1,325,647 Realtek Semiconductor Corp...... 43,000 779,363 Samsung Electronics Co., Ltd...... 283,602 20,327,271 Sanyang Motor Co., Ltd...... 58,000 62,818 Samsung Engineering Co., Ltd. (a) ...... 9,160 194,449 Simplo Technology Co., Ltd...... 51,000 657,484 Samsung Life Insurance Co., Ltd...... 972 68,859 SinoPac Financial Holdings Co., Ltd...... 2,574,000 1,270,256 Samsung SDI Co., Ltd...... 1,555 962,471 Taishin Financial Holding Co., Ltd...... 2,439,023 1,331,235 Samsung Securities Co., Ltd...... 14,365 573,514 Taiwan Cement Corp...... 368,939 675,677 Seegene, Inc. (a) ...... 610 44,778 Taiwan Hon Chuan Enterprise Co., Ltd...... 38,000 104,879 Shinhan Financial Group Co., Ltd...... 34,686 1,249,262 Taiwan Semiconductor Manufacturing Co., Ltd...... 1,407,000 30,046,299 Silicon Works Co., Ltd...... 8,838 954,669 Teco Electric and Machinery Co., Ltd...... 120,000 143,197 SK Gas, Ltd...... 1,348 146,433 Test Research, Inc...... 28,000 59,862 SK Holdings Co., Ltd...... 2,605 653,650 Tripod Technology Corp...... 14,000 67,786 SK Hynix, Inc...... 24,353 2,758,437 Tung Ho Steel Enterprise Corp...... 161,000 303,357 SK Telecom Co., Ltd...... 5,827 1,656,201 TXC Corp...... 82,000 370,821 Suheung Co., Ltd...... 2,317 113,793 Uni-President Enterprises Corp...... 446,000 1,172,178 Vieworks Co., Ltd...... 3,560 118,086 United Integrated Services Co., Ltd...... 15,000 114,472 62,475,546 United Microelectronics Corp...... 664,000 1,265,443 Wan Hai Lines, Ltd...... 37,000 426,038 Taiwan—14.0% Yang Ming Marine Transport Corp. (a) ...... 39,000 255,451 Acer, Inc...... 57,000 59,941 YFY, Inc...... 232,000 380,160 ASE Technology Holding Co., Ltd...... 311,000 1,250,139 Yuanta Financial Holding Co., Ltd...... 1,611,160 1,552,612 Asustek Computer, Inc...... 45,000 600,242 67,957,905 Bioteque Corp...... 17,000 72,644

See accompanying notes to financial statements. BHFTI-351 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Thailand—1.8% South Korea—0.6% AP Thailand PCL (NVDR) ...... 2,154,400 $ 561,847 Samsung Electronics Co., Ltd...... 45,266 $ 2,962,798 Charoen Pokphand Foods PCL (NVDR) ...... 442,600 365,956 Total Preferred Stocks Chularat Hospital PCL - Class F ...... 2,858,400 354,959 (Cost $4,660,752) ...... 6,799,708 Delta Electronics Thailand PCL ...... 15,600 281,335 Kiatnakin Phatra Bank PCL (NVDR) ...... 318,400 554,203 PTT Exploration & Production PCL (NVDR) ...... 350,700 1,285,000 Rights—0.0% PTTPCL ...... 1,134,600 1,389,487 Quality Houses PCL (NVDR) ...... 4,976,300 354,196 Brazil—0.0% Siam Cement PCL (The) ...... 44,100 594,421 Ultrapar Participacoes S.A., Expires 07/26/21 (a) Siam Commercial Bank PCL (The) ...... 115,400 352,861 (Cost $0) ...... 207,602 1,669 SPCG PCL ...... 70,100 41,120 Supalai PCL ...... 311,200 200,022 Supalai PCL (NVDR) ...... 435,200 279,673 Short-Term Investment—1.0% Thai Union Group PCL (NVDR) ...... 1,438,400 888,748 Thai Vegetable Oil PCL (NVDR) ...... 106,600 109,049 Mutual Funds—1.0% Thanachart Capital PCL ...... 265,000 285,257 AIM STIT-STIC Prime Portfolio ...... 4,915,972 4,915,972 Tisco Financial Group PCL (NVDR) ...... 279,200 770,904 Total Short-Term Investments 8,669,038 (Cost $4,915,972) ...... 4,915,972

Turkey—0.4% Securities Lending Reinvestments (e)—0.2% Anadolu Efes Biracilik Ve Malt Sanayii A/S ...... 20,226 51,704 Coca-Cola Icecek A/S ...... 34,748 310,348 Certificate of Deposit—0.0% Ford Otomotiv Sanayi A/S ...... 39,725 776,220 Agricultural Bank of China KOC Holding A/S ...... 14,123 29,829 0.100%, 07/01/21 ...... 13,610 13,610 Tofas Turk Otomobil Fabrikasi A/S ...... 38,314 129,966 Turkcell Iletisim Hizmetleri A/S ...... 272,921 505,864 Repurchase Agreements—0.1% 1,803,931 BofA Securities, Inc. Repurchase Agreement dated 06/30/21 at 0.050%, due on United Arab Emirates—0.8% 07/01/21 with a maturity value of $185,392; collateralized by Abu Dhabi Commercial Bank PJSC ...... 191,389 358,107 U.S. Treasury Bond at 2.875%, maturing 05/15/49, and an Abu Dhabi Islamic Bank PJSC ...... 108,451 161,807 aggregate market value of $189,100...... 185,392 185,392 Aldar Properties PJSC ...... 904,401 941,354 HSBC Securities, Inc. Dubai Islamic Bank PJSC ...... 523,218 686,950 Repurchase Agreement dated 06/30/21 at 0.040%, due on Emirates NBD Bank PJSC ...... 150,305 542,369 07/01/21 with a maturity value of $100,000; collateralized by Emirates Telecommunications Group Co. PJSC ...... 181,113 1,084,684 U.S. Treasury Obligations with rates ranging from 0.125% - First Abu Dhabi Bank PJSC ...... 41,981 190,895 5.500%, maturity dates ranging from 10/15/21 - 08/15/30, and an aggregate market value of $102,000...... 100,000 100,000 3,966,166 Mizuho Securities USA, Inc. Total Common Stocks Repurchase Agreement dated 06/30/21 at 0.040%, due on (Cost $383,025,653) ...... 471,792,810 07/01/21 with a maturity value of $100,000; collateralized by U.S. Treasury Note at 0.250%, maturing 06/15/24, and an aggregate market value of $102,000...... 100,000 100,000 Preferred Stocks—1.4% 385,392 Brazil—0.8% Banco Bradesco S.A...... 111,760 578,146 Time Deposit—0.0% Braskem S.A. - Class A (a) ...... 13,700 164,026 Landesbank Baden-Wuettertemberg (London) Itausa S.A...... 467,600 1,048,241 0.130%, 07/01/21 ...... 5,532 5,532 Petroleo Brasileiro S.A...... 311,900 1,845,514 Randon S.A. Implementos e Participacoes ...... 33,100 90,307 Mutual Funds—0.1% Unipar Carbocloro S.A...... 5,600 110,676 BlackRock Liquidity Funds FedFund, Institutional Shares 0.030% (f) ...... 100,000 100,000 3,836,910 Fidelity Government Portfolio, Institutional Class 0.010% (f) ...... 100,000 100,000

See accompanying notes to financial statements. BHFTI-352 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (e)—(Continued)

Security Description Shares Value (c) Security was valued in good faith under procedures approved by the Board of Trustees. As of June 30, 2021, these securities represent 0.1% of net assets. Mutual Funds—(Continued) (d) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Goldman Sachs Financial Square Government Fund, Institutional Level 3. Shares (e) Represents investment of cash collateral received from securities on loan as of June 30, 0.020% (f) ...... 100,000 $ 100,000 2021. Morgan Stanley Liquidity Funds Government Portfolio, Institutional (f) The rate shown represents the annualized seven-day yield as of June 30, 2021. Shares (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. 0.030% (f) ...... 100,000 100,000 These securities may be resold in transactions exempt from registration, normally to Wells Fargo Government Money Market Fund, Select Class qualified institutional buyers. As of June 30, 2021, the market value of 144A securities 0.030% (f) ...... 100,000 100,000 was $6,235,284, which is 1.3% of net assets.

500,000 Ten Largest Industries as of %of Total Securities Lending Reinvestments June 30, 2021 (Unaudited) Net Assets (Cost $904,534) ...... 904,534 Banks ...... 11.9 Total Investments— 99.7% Internet & Direct Marketing Retail ...... 9.8 (Cost $393,506,911) ...... 484,414,693 Semiconductors & Semiconductor Equipment ...... 9.2 Other assets and liabilities (net)—0.3% ...... 1,657,323 Interactive Media & Services ...... 6.9 Technology Hardware, Storage & Peripherals ...... 6.1 Net Assets—100.0% ...... $486,072,016 Oil, Gas & Consumable Fuels ...... 4.6 Metals & Mining ...... 4.1 * Principal amount stated in U.S. dollars unless otherwise noted. Automobiles ...... 2.9 (a) Non-income producing security. Chemicals ...... 2.6 (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value IT Services ...... 2.5 of securities loaned was $6,992,082 and the collateral received consisted of cash in the amount of $904,534 and non-cash collateral with a value of $6,509,482. 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. As such, this collateral is excluded from the Statement of Assets and Liabilities.

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Amount (Depreciation) MSCI Emerging Markets Index Mini Futures ...... 09/17/21 85 USD 5,800,400 $(20,424)

Glossary of Abbreviations

Currencies (USD)— United States Dollar

Other Abbreviations (NVDR)— Non-Voting Depository Receipts (ADR)— American Depositary Receipt (GDR)— Global Depositary Receipt

See accompanying notes to financial statements. BHFTI-353 Brighthouse Funds Trust I SSGA Emerging Markets Enhanced Index Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021: Description Level 1 Level 2 Level 3 Total Common Stocks Argentina ...... $ 1,436,664 $ — $ — $ 1,436,664 Brazil ...... 22,537,211 — — 22,537,211 Chile ...... 1,116,632 — — 1,116,632 China ...... 23,484,730 150,656,184 576,813 174,717,727 Colombia ...... 303,635 — — 303,635 Czech Republic ...... — 473,402 — 473,402 Egypt ...... — 271,356 — 271,356 Greece ...... — 1,592,930 — 1,592,930 Hong Kong ...... — 4,094,736 — 4,094,736 Hungary ...... — 1,187,447 — 1,187,447 India ...... 6,288,827 41,326,033 — 47,614,860 Indonesia ...... 624,096 4,746,655 — 5,370,751 Malaysia ...... — 4,297,833 — 4,297,833 Mexico ...... 7,934,521 — — 7,934,521 Philippines ...... — 2,250,960 — 2,250,960 Poland ...... — 3,032,728 — 3,032,728 Qatar ...... — 2,005,609 — 2,005,609 Russia ...... 1,936,489 12,401,620 — 14,338,109 Saudi Arabia ...... — 15,113,749 — 15,113,749 Singapore ...... — 711,159 — 711,159 South Africa ...... — 16,518,205 — 16,518,205 South Korea ...... — 62,475,546 — 62,475,546 Taiwan ...... — 67,957,905 — 67,957,905 Thailand ...... 3,499,462 5,169,576 — 8,669,038 Turkey ...... — 1,803,931 — 1,803,931 United Arab Emirates ...... — 3,966,166 — 3,966,166 Total Common Stocks ...... 69,162,267 402,053,730 576,813 471,792,810 Preferred Stocks Brazil ...... 3,836,910 — — 3,836,910 South Korea ...... — 2,962,798 — 2,962,798 Total Preferred Stocks ...... 3,836,910 2,962,798 — 6,799,708 Total Rights* ...... 1,669 — — 1,669 Total Short-Term Investment* ...... 4,915,972 — — 4,915,972 Securities Lending Reinvestments Certificate of Deposit ...... — 13,610 — 13,610 Repurchase Agreements ...... — 385,392 — 385,392 Time Deposit ...... — 5,532 — 5,532 Mutual Funds ...... 500,000 — — 500,000 Total Securities Lending Reinvestments ...... 500,000 404,534 — 904,534 Total Investments ...... $78,416,818 $405,421,062 $576,813 $484,414,693 Collateral for Securities Loaned (Liability) ...... $ — $ (904,534) $ — $ (904,534) Futures Contracts Futures Contracts (Unrealized Depreciation) ...... $ (20,424) $ — $ — $ (20,424)

* 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 June 30, 2021 is not presented. During the period ended June 30, 2021, a transfer from Level 1 to Level 3 in the amount of $808,399 was due to a trading halt on the security which resulted in the lack of observable inputs.

See accompanying notes to financial statements. BHFTI-354 Brighthouse Funds Trust I SSGA Growth and Income ETF Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—99.2% of Net Assets

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Investment Company Securities—99.2% Certificates of Deposit—(Continued) Energy Select Sector SPDR Fund (a) ...... 411,089 $ 22,145,364 Sumitomo Mitsui Banking Corp. Industrial Select Sector SPDR Fund (a) (b) ...... 219,152 22,441,165 0.156%, 1M LIBOR + 0.060%, 12/17/21 (d) ...... 5,000,000 $ 4,999,990 Invesco Optimum Yield Diversified Commodity Strategy 0.158%, 3M LIBOR + 0.030%, 09/10/21 (d) ...... 10,000,000 10,000,240 No.K-1ETF ...... 2,917,886 58,620,330 Sumitomo Mitsui Trust Bank, Ltd. iShares 20+ Year Treasury Bond ETF (b) ...... 410,224 59,215,834 Zero Coupon, 08/09/21 ...... 5,995,936 5,999,100 iShares Core MSCI Emerging Markets ETF (b) ...... 2,379,599 159,409,337 Zero Coupon, 09/14/21 ...... 4,997,357 4,998,500 iShares Core S&P Mid-Cap ETF (b) ...... 170,469 45,810,134 Zero Coupon, 09/20/21 ...... 4,993,679 4,998,400 iShares Core S&P Small-Cap ETF (b) ...... 991,708 112,043,170 Svenska Handelsbanken AB iShares MSCI Canada ETF (b) ...... 622,659 23,206,501 0.220%, 3M LIBOR + 0.070%, 11/19/21 (d) ...... 2,000,000 2,000,484 iShares MSCI EAFE ETF (b) ...... 2,248,530 177,364,046 134,188,816 iShares TIPS Bond ETF (b) ...... 895,760 114,666,238 Materials Select Sector SPDR Fund (a) (b) ...... 529,277 43,564,790 Commercial Paper—0.2% SPDR Bloomberg Barclays High Yield Bond ETF (a) (b) ...... 1,689,789 185,809,199 Antalis S.A. SPDR S&P 500 ETF Trust (a) (b) ...... 1,629,588 697,561,439 0.170%, 09/01/21 ...... 4,997,497 4,998,395 SPDR S&P International Small Cap ETF (a) (b) ...... 1,166,459 45,095,305 Technology Select Sector SPDR Fund (a) ...... 338,334 49,958,399 Master Demand Notes—0.5% Vanguard FTSE Europe ETF ...... 1,481,943 99,675,486 Natixis Financial Products LLC Vanguard Long-Term Corporate Bond ETF (b) ...... 448,782 47,992,747 0.310%, OBFR + 0.230%, 07/01/21 (d) ...... 12,000,000 12,000,000 Vanguard Real Estate ETF ...... 230,376 23,449,973 Vanguard Total Bond Market ETF ...... 3,369,836 289,435,214 Repurchase Agreements—11.5% Total Mutual Funds Barclays Bank plc (Cost $1,918,094,992) ...... 2,277,464,671 Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/01/21 with a maturity value of $30,000,167; collateralized by various Common Stock with an aggregate Short-Term Investment—0.8% market value of $33,335,889...... 30,000,000 30,000,000 Repurchase Agreement dated 06/30/21 at 0.360%, due on Mutual Funds—0.8% 08/04/21 with a maturity value of $20,007,000; AIM STIT-STIC Prime Portfolio ...... 18,509,016 18,509,016 collateralized by various Common Stock with an aggregate Total Short-Term Investments market value of $22,226,691...... 20,000,000 20,000,000 (Cost $18,509,016) ...... 18,509,016 Barclays Capital, Inc. Repurchase Agreement dated 06/30/21 at 0.030%, due on 07/01/21 with a maturity value of $20,035,200; Securities Lending Reinvestments (c)—29.1% collateralized by U.S. Treasury Obligations at 0.000%, maturity dates ranging from 05/15/29 - 11/15/43, and an Certificates of Deposit—5.9% aggregate market value of $20,435,887...... 20,035,183 20,035,183 Agricultural Bank of China BofA Securities, Inc. 0.100%, 07/01/21 ...... 5,200,000 5,199,995 Repurchase Agreement dated 06/30/21 at 0.360%, due on Bank of Montreal (Chicago) 08/04/21 with a maturity value of $20,007,000; 0.176%, 1M BSBY + 0.120%, 12/01/21 (d) ...... 15,000,000 15,000,186 collateralized by various Common Stock with an aggregate Barclays Bank plc market value of $22,000,004...... 20,000,000 20,000,000 0.100%, 09/09/21 ...... 21,000,000 20,998,341 Citigroup Global Markets, Inc. Credit Industriel et Commercial Repurchase Agreement dated 06/30/21 at 0.060%, due on Zero Coupon, 10/12/21 ...... 9,995,560 9,995,900 07/01/21 with a maturity value of $10,000,017; Industrial & Commercial Bank of China Ltd. collateralized by U.S. Treasury Obligations with rates ranging 0.110%, 07/22/21 ...... 20,000,000 19,999,140 from 0.125% - 6.125%, maturity dates ranging from Mitsubishi UFJ Trust and Banking Corp. (London) 08/15/29 - 02/15/31, and an aggregate market value of Zero Coupon, 08/11/21 ...... 4,997,829 4,999,200 $10,200,003...... 10,000,000 10,000,000 Mizuho Bank, Ltd. Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.200%, 09/14/21 ...... 5,000,000 5,000,630 08/04/21 with a maturity value of $15,006,271; MUFG Bank Ltd. collateralized by U.S. Treasury Obligations at 0.125%, Zero Coupon, 09/02/21 ...... 4,994,894 4,998,750 maturing 05/31/23, and various Common Stock with an Natixis S.A. (New York) aggregate market value of $16,496,166...... 15,000,000 15,000,000 0.208%, 3M LIBOR + 0.040%, 02/11/22 (d) ...... 5,000,000 4,999,920 Oversea-Chinese Banking Corp., Ltd. 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 10,000,000 10,000,040

See accompanying notes to financial statements. BHFTI-355 Brighthouse Funds Trust I SSGA Growth and Income ETF Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Time Deposits—(Continued) Credit Suisse AG National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.055%, due on 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 10,000,000 $ 10,000,000 07/01/21 with a maturity value of $50,000,076; Rabobank (New York) collateralized by U.S. Treasury Obligations with rates ranging 0.050%, 07/01/21 ...... 25,000,000 25,000,000 from 0.000% - 3.125%, maturity dates ranging from Royal Bank of Canada 10/07/21 - 01/15/29, and an aggregate market value of 0.030%, 07/01/21 ...... 30,000,000 30,000,000 $51,000,106...... 50,000,000 $ 50,000,000 101,900,000 Deutsche Bank AG, London Repurchase Agreement dated 06/30/21 at 0.170%, due on Mutual Funds—6.6% 07/01/21 with a maturity value of $3,900,018; AB Government Money Market Portfolio, Institutional Class collateralized by U.S. Treasury and Foreign Obligations with 0.010% (e) ...... 35,500,000 35,500,000 rates ranging from 0.000% - 3.375%, maturity dates ranging BlackRock Liquidity Funds FedFund, Institutional Shares from 02/01/22 - 03/11/31, and an aggregate market value 0.030% (e) ...... 20,000,000 20,000,000 of $3,978,003...... 3,900,000 3,900,000 Goldman Sachs Financial Square Government Fund, Institutional Repurchase Agreement dated 06/30/21 at 0.230%, due on Shares 07/01/21 with a maturity value of $25,000,160; 0.020% (e) ...... 75,000,000 75,000,000 collateralized by various Common Stock with an aggregate STIT-Government & Agency Portfolio, Institutional Class market value of $27,780,696...... 25,000,000 25,000,000 0.030% (e) ...... 20,000,000 20,000,000 National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.210%, due on 150,500,000 07/07/21 with a maturity value of $50,002,042; Total Securities Lending Reinvestments collateralized by various Common Stock with an aggregate (Cost $667,321,463) ...... 667,322,394 market value of $55,555,880...... 50,000,000 50,000,000 NBC Global Finance, Ltd. Total Investments—129.1% Repurchase Agreement dated 06/30/21 at 0.245%, due on (Cost $2,603,925,471) ...... 2,963,296,081 07/07/21 with a maturity value of $11,000,524; Other assets and liabilities (net)—(29.1)% ...... (667,102,177) collateralized by U.S. Treasury Obligations with rates ranging Net Assets—100.0% ...... $2,296,193,904 from 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, and various Common Stock with an aggregate market value of $12,222,226...... 11,000,000 11,000,000 * Principal amount stated in U.S. dollars unless otherwise noted. Repurchase Agreement dated 06/30/21 at 0.260%, due on (a) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of 07/07/21 with a maturity value of $3,800,192; transactions in securities of affiliated issuers.) collateralized by U.S. Treasury Obligations with rates ranging (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value from 2.125% - 3.875%, maturity dates ranging from of securities loaned was $679,652,168 and the collateral received consisted of cash in 12/31/23 - 04/15/29, and various Common Stock with an the amount of $667,307,936 and non-cash collateral with a value of $26,839,615. The aggregate market value of $4,222,968...... 3,800,000 3,800,000 cash collateral investments are disclosed in the Schedule of Investments and categorized Societe Generale as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. Repurchase Agreement dated 06/30/21 at 0.185%, due on government securities that are held in safe-keeping by the lending agent, or a 07/01/21 with a maturity value of $5,000,026; third-party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateralized by various Common Stock with an aggregate collateral is excluded from the Statement of Assets and Liabilities. market value of $5,555,732...... 5,000,000 5,000,000 (c) Represents investment of cash collateral received from securities on loan as of June 30, 2021. 263,735,183 (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Maturity date shown for callable securities reflects the earliest possible call date. For Time Deposits—4.4% securities based on a published reference index and spread, the index and spread are ABN AMRO Bank NV indicated in the description above. For certain variable rate securities, the coupon rate is 0.080%, 07/01/21 ...... 8,000,000 8,000,000 determined by the issuer/agent based on current market conditions. For certain asset- DZ Bank AG and mortgage-backed securities, the coupon rate may fluctuate based on changes of the 0.040%, 07/01/21 ...... 25,000,000 25,000,000 underlying collateral or prepayments of principal. These securities do not indicate a Landesbank Baden-Wuettertemberg (London) reference index and spread in their description above. 0.130%, 07/01/21 ...... 3,900,000 3,900,000 (e) The rate shown represents the annualized seven-day yield as of June 30, 2021.

See accompanying notes to financial statements. BHFTI-356 Brighthouse Funds Trust I SSGA Growth and Income ETF Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Glossary of Abbreviations

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ETF)— Exchange-Traded Fund

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Mutual Funds* ...... $2,277,464,671 $ — $— $2,277,464,671 Total Short-Term Investment* ...... 18,509,016 — — 18,509,016 Securities Lending Reinvestments Certificates of Deposit ...... — 134,188,816 — 134,188,816 Commercial Paper ...... — 4,998,395 — 4,998,395 Master Demand Notes ...... — 12,000,000 — 12,000,000 Repurchase Agreements ...... — 263,735,183 — 263,735,183 Time Deposits ...... — 101,900,000 — 101,900,000 Mutual Funds ...... 150,500,000 — — 150,500,000 Total Securities Lending Reinvestments ...... 150,500,000 516,822,394 — 667,322,394 Total Investments ...... $2,446,473,687 $ 516,822,394 $— $2,963,296,081 Collateral for Securities Loaned (Liability) ...... $ — $(667,307,936) $— $ (667,307,936)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-357 Brighthouse Funds Trust I SSGA Growth ETF Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Mutual Funds—99.3% of Net Assets

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Investment Company Securities—99.3% Certificates of Deposit—(Continued) Energy Select Sector SPDR Fund (a) ...... 165,997 $ 8,942,258 Sumitomo Mitsui Banking Corp. Industrial Select Sector SPDR Fund (a) (b) ...... 88,493 9,061,683 0.156%, 1M LIBOR + 0.060%, 12/17/21 (d) ...... 5,000,000 $ 4,999,990 Invesco Optimum Yield Diversified Commodity Strategy No. K-1 0.158%, 3M LIBOR + 0.030%, 09/10/21 (d) ...... 5,000,000 5,000,120 ETF...... 1,187,137 23,849,582 Sumitomo Mitsui Trust Bank, Ltd. iShares 20+ Year Treasury Bond ETF (b) ...... 148,744 21,471,196 Zero Coupon, 09/20/21 ...... 4,993,679 4,998,400 iShares Core MSCI Emerging Markets ETF (b) ...... 1,235,501 82,766,212 48,795,111 iShares Core S&P Mid-Cap ETF (b) ...... 168,192 45,198,236 iShares Core S&P Small-Cap ETF (b) ...... 562,776 63,582,433 Commercial Paper—0.8% iShares MSCI Canada ETF (b) ...... 488,336 18,200,283 Antalis S.A. iShares MSCI EAFE ETF (b) ...... 1,585,596 125,071,813 0.170%, 09/01/21 ...... 4,997,497 4,998,395 iShares TIPS Bond ETF (b) ...... 215,262 27,555,689 0.200%, 07/06/21 ...... 2,198,876 2,199,947 Materials Select Sector SPDR Fund (a) (b) ...... 213,367 17,562,238 SPDR Bloomberg Barclays High Yield Bond ETF (a) (b) ...... 255,365 28,079,935 7,198,342 SPDR S&P 500 ETF Trust (a) (b) ...... 767,187 328,402,067 SPDR S&P International Small Cap ETF (a) (b) ...... 706,101 27,297,865 Repurchase Agreements—11.6% Technology Select Sector SPDR Fund (a) (b) ...... 135,856 20,060,497 Barclays Bank plc Vanguard FTSE Europe ETF (b) ...... 597,039 40,156,843 Repurchase Agreement dated 06/30/21 at 0.200%, due on Vanguard Long-Term Corporate Bond ETF (b) ...... 178,406 19,078,738 07/01/21 with a maturity value of $8,200,046; collateralized Vanguard Real Estate ETF (b) ...... 88,612 9,019,815 by various Common Stock with an aggregate market value of $9,111,810...... 8,200,000 8,200,000 Total Mutual Funds Repurchase Agreement dated 06/30/21 at 0.360%, due on (Cost $714,324,876) ...... 915,357,383 08/04/21 with a maturity value of $10,003,500; collateralized by various Common Stock with an aggregate market value of Short-Term Investment—0.7% $11,113,346...... 10,000,000 10,000,000 Barclays Capital, Inc. Mutual Funds—0.7% Repurchase Agreement dated 06/30/21 at 0.030%, due on AIM STIT-STIC Prime Portfolio ...... 6,932,973 6,932,973 07/01/21 with a maturity value of $5,264,110; collateralized by U.S. Treasury Obligations at 0.000%, maturity dates ranging Total Short-Term Investments from 05/15/29 - 11/15/43, and an aggregate market value of (Cost $6,932,973) ...... 6,932,973 $5,369,388...... 5,264,106 5,264,106 BofA Securities, Inc. Securities Lending Reinvestments (c)—28.7% Repurchase Agreement dated 06/30/21 at 0.050%, due on 07/01/21 with a maturity value of $16,221,397; collateralized Certificates of Deposit—5.3% by U.S. Treasury Bond at 2.875%, maturing 05/15/49, and an Agricultural Bank of China aggregate market value of $16,545,803...... 16,221,374 16,221,374 0.100%, 07/01/21 ...... 800,000 799,999 Citigroup Global Markets, Inc. Bank of Montreal Repurchase Agreement dated 06/30/21 at 0.060%, due on Zero Coupon, 09/20/21 ...... 3,997,934 3,998,720 07/01/21 with a maturity value of $10,000,017; collateralized Bank of Montreal (Chicago) by U.S. Treasury Obligations with rates ranging from 0.125% - 0.176%, 1M BSBY + 0.120%, 12/01/21 (d) ...... 5,000,000 5,000,062 6.125%, maturity dates ranging from 08/15/29 - 02/15/31, Barclays Bank plc and an aggregate market value of $10,200,003...... 10,000,000 10,000,000 0.100%, 09/09/21 ...... 6,000,000 5,999,526 Repurchase Agreement dated 06/30/21 at 0.430%, due on Credit Industriel et Commercial 08/04/21 with a maturity value of $5,002,090; collateralized Zero Coupon, 10/12/21 ...... 4,997,780 4,997,950 by U.S. Treasury Obligations at 2.000%, maturing 11/30/22, Industrial & Commercial Bank of China Ltd. and various Common Stock with an aggregate market value of 0.110%, 07/22/21 ...... 2,000,000 1,999,914 $5,491,137...... 5,000,000 5,000,000 Mitsubishi UFJ Trust and Banking Corp. (London) Repurchase Agreement dated 06/30/21 at 0.430%, due on Zero Coupon, 08/11/21 ...... 999,566 999,840 08/04/21 with a maturity value of $4,001,672; collateralized Mizuho Bank, Ltd. by U.S. Treasury Obligations at 0.125%, maturing 05/31/23, 0.200%, 09/14/21 ...... 5,000,000 5,000,630 and various Common Stock with an aggregate market value of Natixis S.A. (New York) $4,398,111...... 4,000,000 4,000,000 0.208%, 3M LIBOR + 0.040%, 02/11/22 (d) ...... 3,000,000 2,999,952 Oversea-Chinese Banking Corp., Ltd. 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 2,000,000 2,000,008

See accompanying notes to financial statements. BHFTI-358 Brighthouse Funds Trust I SSGA Growth ETF Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Time Deposits—(Continued) Deutsche Bank AG, London Rabobank (New York) Repurchase Agreement dated 06/30/21 at 0.170%, due on 0.050%, 07/01/21 ...... 5,000,000 $ 5,000,000 07/01/21 with a maturity value of $1,400,007; collateralized Royal Bank of Canada by U.S. Treasury and Foreign Obligations with rates ranging 0.030%, 07/01/21 ...... 5,000,000 5,000,000 from 0.000% - 3.375%, maturity dates ranging from 02/01/22 36,500,000 - 03/11/31, and an aggregate market value of $1,428,001. . . 1,400,000 $ 1,400,000 Repurchase Agreement dated 06/30/21 at 0.230%, due on Mutual Funds—7.0% 07/01/21 with a maturity value of $10,000,064; collateralized BlackRock Liquidity Funds FedFund, Institutional Shares by various Common Stock with an aggregate market value of 0.030% (e) ...... 30,000,000 30,000,000 $11,112,278...... 10,000,000 10,000,000 Goldman Sachs Financial Square Government Fund, Institutional HSBC Bank plc Shares Repurchase Agreement dated 06/30/21 at 0.100%, due on 0.020% (e) ...... 25,000,000 25,000,000 07/01/21 with a maturity value of $8,400,023; collateralized STIT-Government & Agency Portfolio, Institutional Class by U.S. Treasury Obligations with rates ranging from 0.099% - 0.030% (e) ...... 10,000,000 10,000,000 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value of $8,571,453...... 8,400,000 8,400,000 65,000,000 National Bank of Canada Total Securities Lending Reinvestments Repurchase Agreement dated 06/30/21 at 0.210%, due on (Cost $264,977,801) ...... 264,978,933 07/07/21 with a maturity value of $10,000,408; collateralized by various Common Stock with an aggregate market value of Total Investments—128.7% $11,111,176...... 10,000,000 10,000,000 (Cost $986,235,650) ...... 1,187,269,289 NBC Global Finance, Ltd. Other assets and liabilities (net)—(28.7)% ...... (265,115,371) Repurchase Agreement dated 06/30/21 at 0.245%, due on Net Assets—100.0% ...... $ 922,153,918 07/07/21 with a maturity value of $3,200,152; collateralized by U.S. Treasury Obligations with rates ranging from 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, * Principal amount stated in U.S. dollars unless otherwise noted. and various Common Stock with an aggregate market value of (a) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of $3,555,557...... 3,200,000 3,200,000 transactions in securities of affiliated issuers.) Repurchase Agreement dated 06/30/21 at 0.260%, due on (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value 07/07/21 with a maturity value of $1,500,076; collateralized of securities loaned was $274,897,814 and the collateral received consisted of cash in by U.S. Treasury Obligations with rates ranging from 2.125% - the amount of $264,970,811 and non-cash collateral with a value of $16,130,310. The 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, cash collateral investments are disclosed in the Schedule of Investments and categorized and various Common Stock with an aggregate market value of as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. $1,666,961...... 1,500,000 1,500,000 government securities that are held in safe-keeping by the lending agent, or a third- Societe Generale party custodian, and cannot be sold or repledged by the Portfolio. As such, this collateral Repurchase Agreement dated 06/30/21 at 0.180%, due on is excluded from the Statement of Assets and Liabilities. 07/01/21 with a maturity value of $9,100,046; collateralized (c) Represents investment of cash collateral received from securities on loan as of June 30, by various Common Stock with an aggregate market value of 2021. $10,111,322...... 9,100,000 9,100,000 (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Repurchase Agreement dated 06/30/21 at 0.185%, due on Maturity date shown for callable securities reflects the earliest possible call date. For 07/01/21 with a maturity value of $5,200,027; collateralized securities based on a published reference index and spread, the index and spread are by various Common Stock with an aggregate market value of indicated in the description above. For certain variable rate securities, the coupon rate is $5,777,962...... 5,200,000 5,200,000 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 107,485,480 underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. Time Deposits—4.0% (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. DZ Bank AG 0.040%, 07/01/21 ...... 10,000,000 10,000,000 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 1,500,000 1,500,000 0.130%, 07/01/21 ...... 10,000,000 10,000,000 National Bank of Canada 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 5,000,000 5,000,000

See accompanying notes to financial statements. BHFTI-359 Brighthouse Funds Trust I SSGA Growth ETF Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ETF)— Exchange-Traded Fund

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Mutual Funds* ...... $915,357,383 $ — $— $ 915,357,383 Total Short-Term Investment* ...... 6,932,973 — — 6,932,973 Securities Lending Reinvestments Certificates of Deposit ...... — 48,795,111 — 48,795,111 Commercial Paper ...... — 7,198,342 — 7,198,342 Repurchase Agreements ...... — 107,485,480 — 107,485,480 Time Deposits ...... — 36,500,000 — 36,500,000 Mutual Funds ...... 65,000,000 — — 65,000,000 Total Securities Lending Reinvestments ...... 65,000,000 199,978,933 — 264,978,933 Total Investments ...... $987,290,356 $ 199,978,933 $— $1,187,269,289 Collateral for Securities Loaned (Liability) ...... $ — $(264,970,811) $— $ (264,970,811)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-360 Brighthouse Funds Trust I T. Rowe Price Large Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—98.3% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—0.7% Diversified Financial Services—1.4% Boeing Co. (The) (a) (b) ...... 97,926 $ 23,459,153 Equitable Holdings, Inc...... 1,560,123 $ 47,505,745

Air Freight & Logistics—2.9% Electric Utilities—4.4% United Parcel Service, Inc. - Class B ...... 462,691 96,225,847 Edison International ...... 273,617 15,820,535 Entergy Corp...... 238,000 23,728,600 Airlines—0.8% NextEra Energy, Inc...... 426,382 31,245,273 Southwest Airlines Co. (b) ...... 469,366 24,918,641 Southern Co. (The) ...... 1,234,403 74,693,725 145,488,133 Auto Components—1.2% Magna International, Inc...... 408,349 37,829,451 Electrical Equipment—0.7% Rockwell Automation, Inc. (a) ...... 79,425 22,717,139 Banks—9.5% Bank of America Corp...... 1,352,448 55,761,431 Electronic Equipment, Instruments & Components—0.8% Fifth Third Bancorp ...... 1,411,574 53,964,474 TE Connectivity, Ltd...... 204,259 27,617,859 Huntington Bancshares, Inc...... 713,000 10,174,510 JPMorgan Chase & Co...... 309,420 48,127,187 Entertainment—1.1% Signature Bank ...... 112,704 27,685,738 Walt Disney Co. (The) (b) ...... 204,880 36,011,758 Wells Fargo & Co...... 2,608,964 118,159,979 313,873,319 Equity Real Estate Investment Trusts—3.1% AvalonBay Communities, Inc. (a) ...... 109,533 22,858,442 Beverages—0.8% Welltower, Inc. (a) ...... 331,635 27,558,869 Coca-Cola Co. (The) ...... 471,300 25,502,043 Weyerhaeuser Co. (a) ...... 1,499,751 51,621,429 102,038,740 Biotechnology—1.8% AbbVie, Inc...... 406,412 45,778,248 Food & Staples Retailing—0.9% Gilead Sciences, Inc...... 187,625 12,919,857 Walmart, Inc...... 212,169 29,920,072 58,698,105 Food Products—2.9% Building Products—0.2% Bunge, Ltd...... 307,387 24,022,294 Fortune Brands Home & Security, Inc...... 74,639 7,434,791 Conagra Brands, Inc...... 828,161 30,128,497 Tyson Foods, Inc. - Class A ...... 553,465 40,823,579 Capital Markets—5.2% 94,974,370 Charles Schwab Corp. (The) ...... 784,894 57,148,132 Goldman Sachs Group, Inc. (The) ...... 86,773 32,932,957 Health Care Equipment & Supplies—5.1% Morgan Stanley ...... 811,244 74,382,962 Becton Dickinson & Co...... 191,406 46,548,025 State Street Corp...... 60,047 4,940,667 Hologic, Inc. (b) ...... 372,177 24,831,650 169,404,718 Medtronic plc ...... 486,968 60,447,338 Zimmer Biomet Holdings, Inc...... 217,011 34,899,709 Chemicals—2.4% 166,726,722 CF Industries Holdings, Inc...... 808,983 41,622,175 International Flavors & Fragrances, Inc...... 259,007 38,695,646 Health Care Providers & Services—3.0% 80,317,821 Anthem, Inc...... 125,900 48,068,620 Cigna Corp...... 43,699 10,359,722 Commercial Services & Supplies—0.5% CVS Health Corp...... 472,252 39,404,707 Stericycle, Inc. (a) (b) ...... 208,025 14,884,189 97,833,049

Communications Equipment—1.0% Hotels, Restaurants & Leisure—0.6% Cisco Systems, Inc...... 599,604 31,779,012 Las Vegas Sands Corp. (b) ...... 400,468 21,100,659

Consumer Finance—0.5% Household Products—0.9% Capital One Financial Corp...... 108,355 16,761,435 Kimberly-Clark Corp...... 215,213 28,791,195

Containers & Packaging—2.4% Industrial Conglomerates—3.5% International Paper Co...... 1,286,250 78,859,988 General Electric Co...... 8,484,181 114,197,076

See accompanying notes to financial statements. BHFTI-361 Brighthouse Funds Trust I T. Rowe Price Large Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Insurance—6.4% Professional Services—0.5% American International Group, Inc...... 1,942,071 $ 92,442,580 Nielsen Holdings plc ...... 682,474 $ 16,836,634 Chubb, Ltd...... 437,629 69,556,753 Hartford Financial Services Group, Inc. (The) ...... 198,331 12,290,572 Semiconductors & Semiconductor Equipment—6.3% Marsh & McLennan Cos., Inc...... 267,356 37,611,642 Applied Materials, Inc...... 485,336 69,111,847 211,901,547 NXP Semiconductors NV ...... 130,618 26,870,735 QUALCOMM, Inc...... 427,495 61,101,860 Interactive Media & Services—0.8% Texas Instruments, Inc...... 257,493 49,515,904 Alphabet, Inc. - Class C (b) ...... 10,300 25,815,096 206,600,346

IT Services—0.6% Software—3.2% Fiserv, Inc. (b) ...... 196,000 20,950,440 Citrix Systems, Inc...... 244,000 28,613,880 Microsoft Corp...... 284,048 76,948,603 Life Sciences Tools & Services—0.7% 105,562,483 Thermo Fisher Scientific, Inc...... 45,075 22,738,985 Specialty Retail—1.3% Machinery—2.4% TJX Cos., Inc. (The) ...... 643,000 43,351,060 Caterpillar, Inc...... 130,000 28,291,900 Cummins, Inc...... 104,100 25,380,621 Tobacco—1.4% Illinois Tool Works, Inc...... 119,695 26,759,014 Philip Morris International, Inc...... 464,036 45,990,608 80,431,535 Total Common Stocks (Cost $2,370,331,764) ...... 3,234,030,541 Media—2.8% Comcast Corp. - Class A ...... 812,719 46,341,237 Fox Corp. - Class B ...... 533,940 18,794,688 Convertible Preferred Stocks—0.7% News Corp. - Class A ...... 1,105,850 28,497,755 93,633,680 Electric Utilities—0.3% Southern Co. (The) Multi-Utilities—2.2% 6.750%, 08/01/22 (a) ...... 211,505 10,708,498 Ameren Corp. (a) ...... 376,222 30,112,809 Sempra Energy ...... 309,501 41,002,692 Health Care Equipment & Supplies—0.2% Becton Dickinson and Co. 71,115,501 6.000%, 06/01/23 (a) ...... 137,731 7,369,986

Multiline Retail—0.5% Multi-Utilities—0.2% Kohl’s Corp. (a) ...... 310,272 17,099,090 Sempra Energy 6.750%, 07/15/21 ...... 45,416 4,485,738 Oil, Gas & Consumable Fuels—6.1% ConocoPhillips ...... 695,417 42,350,895 Pharmaceuticals—0.0% Exxon Mobil Corp...... 628,531 39,647,736 Elanco Animal Health, Inc. Pioneer Natural Resources Co. (a) ...... 120,958 19,658,094 5.000%, 02/01/23 (a) ...... 19,833 1,064,239 TC Energy Corp...... 528,438 26,168,250 TotalEnergies SE (ADR) (a) ...... 1,583,562 71,672,016 Total Convertible Preferred Stocks (Cost $23,022,522) ...... 23,628,461 199,496,991

Pharmaceuticals—4.8% Short-Term Investment—1.0% Elanco Animal Health, Inc. (b) ...... 868,013 30,111,371 Johnson & Johnson ...... 302,457 49,826,766 Mutual Funds—1.0% Merck & Co., Inc...... 389,912 30,323,456 T. Rowe Price Treasury Reserve Fund (c) ...... 31,649,575 31,649,575 Perrigo Co. plc ...... 415,382 19,045,265 Total Short-Term Investments Pfizer, Inc...... 723,408 28,328,657 (Cost $31,649,575) ...... 31,649,575 157,635,515

See accompanying notes to financial statements. BHFTI-362 Brighthouse Funds Trust I T. Rowe Price Large Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (d)—3.4%

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Certificates of Deposit—0.5% Repurchase Agreements—(Continued) Agricultural Bank of China ING Financial Markets LLC 0.100%, 07/01/21 ...... 500,000 $ 499,999 Repurchase Agreement dated 06/30/21 at 0.040%, due on Industrial & Commercial Bank of China Ltd. 07/01/21 with a maturity value of $8,319,692; 0.110%, 07/22/21 ...... 2,000,000 1,999,914 collateralized by U.S. Government Agency Obligations with Mitsubishi UFJ Trust and Banking Corp. (London) rates ranging from 0.055% - 6.625%, maturity dates ranging Zero Coupon, 08/11/21 ...... 999,566 999,840 from 10/12/21 - 01/04/35, and an aggregate market value Zero Coupon, 09/07/21 ...... 999,668 999,730 of $8,486,104...... 8,319,683 $ 8,319,683 Rabobank International London National Bank of Canada 0.266%, 3M LIBOR + 0.080%, 07/30/21 (e) ...... 1,000,000 1,000,150 Repurchase Agreement dated 06/30/21 at 0.210%, due on Sumitomo Mitsui Banking Corp. 07/07/21 with a maturity value of $5,000,204; 0.156%, 1M LIBOR + 0.060%, 12/17/21 (e) ...... 3,500,000 3,499,993 collateralized by various Common Stock with an aggregate Svenska Handelsbanken AB market value of $5,555,588...... 5,000,000 5,000,000 0.145%, 3M LIBOR + 0.020%, 09/17/21 (e) ...... 4,000,000 4,000,080 Natwest Market Securities, Inc. Toronto-Dominion Bank Repurchase Agreement dated 06/30/21 at 0.050%, due on 0.330%, 3M LIBOR + 0.130%, 07/02/21 (e) ...... 5,000,000 5,000,040 07/01/21 with a maturity value of $15,000,021; 17,999,746 collateralized by U.S. Treasury Obligations with rates ranging from 1.250% - 8.125%, maturity dates ranging from Repurchase Agreements—1.8% 08/15/21 - 05/15/51, and an aggregate market value of Barclays Bank plc $15,300,021...... 15,000,000 15,000,000 Repurchase Agreement dated 06/30/21 at 0.200%, due on NBC Global Finance, Ltd. 07/01/21 with a maturity value of $2,800,016; Repurchase Agreement dated 06/30/21 at 0.260%, due on collateralized by various Common Stock with an aggregate 07/07/21 with a maturity value of $3,000,152; market value of $3,111,350...... 2,800,000 2,800,000 collateralized by U.S. Treasury Obligations with rates ranging BofA Securities, Inc. from 2.125% - 3.875%, maturity dates ranging from Repurchase Agreement dated 06/30/21 at 0.050%, due on 12/31/23 - 04/15/29, and various Common Stock with an 07/01/21 with a maturity value of $7,430,781; aggregate market value of $3,333,922...... 3,000,000 3,000,000 collateralized by U.S. Treasury Bond at 2.875%, maturing Societe Generale 05/15/49, and an aggregate market value of $7,579,387. . 7,430,771 7,430,771 Repurchase Agreement dated 06/30/21 at 0.185%, due on Citigroup Global Markets, Inc. 07/01/21 with a maturity value of $1,500,008; Repurchase Agreement dated 06/30/21 at 0.430%, due on collateralized by various Common Stock with an aggregate 08/04/21 with a maturity value of $2,501,045; market value of $1,666,720...... 1,500,000 1,500,000 collateralized by U.S. Treasury Obligations at 2.000%, 57,950,454 maturing 11/30/22, and various Common Stock with an aggregate market value of $2,745,569...... 2,500,000 2,500,000 Time Deposits—0.3% Repurchase Agreement dated 06/30/21 at 0.430%, due on DZ Bank AG 08/04/21 with a maturity value of $10,004,180; 0.040%, 07/01/21 ...... 4,000,000 4,000,000 collateralized by U.S. Treasury Obligations at 0.125%, Landesbank Baden-Wuettertemberg (London) maturing 05/31/23, and various Common Stock with an 0.130%, 07/01/21 ...... 500,000 500,000 aggregate market value of $10,995,278...... 10,000,000 10,000,000 0.130%, 07/01/21 ...... 2,000,000 2,000,000 Deutsche Bank AG, London National Bank of Canada Repurchase Agreement dated 06/30/21 at 0.170%, due on 0.130%, OBFR + 0.050%, 07/07/21 (e) ...... 3,000,000 3,000,000 07/01/21 with a maturity value of $300,001; collateralized 9,500,000 by U.S. Treasury and Foreign Obligations with rates ranging from 0.000% - 3.375%, maturity dates ranging from Mutual Funds—0.8% 02/01/22 - 03/11/31, and an aggregate market value of BlackRock Liquidity Funds FedFund, Institutional Shares $306,000...... 300,000 300,000 0.030% (f) ...... 6,000,000 6,000,000 HSBC Bank plc Goldman Sachs Financial Square Government Fund, Repurchase Agreement dated 06/30/21 at 0.100%, due on Institutional shares 07/01/21 with a maturity value of $2,100,006; 0.020% (f) ...... 10,000,000 10,000,000 collateralized by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value of $2,142,863...... 2,100,000 2,100,000

See accompanying notes to financial statements. BHFTI-363 Brighthouse Funds Trust I T. Rowe Price Large Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (d)—(Continued)

Security Description Shares Value * Principal amount stated in U.S. dollars unless otherwise noted. (a) All or a portion of the security was held on loan. As of June 30, 2021, the market value Mutual Funds—(Continued) of securities loaned was $109,416,294 and the collateral received consisted of cash in STIT-Government & Agency Portfolio, the amount of $111,449,688. The cash collateral investments are disclosed in the Institutional Class 0.030% (f) ...... 10,000,000 $ 10,000,000 Schedule of Investments and categorized as Securities Lending Reinvestments. 26,000,000 (b) Non-income producing security. (c) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of Total Securities Lending Reinvestments transactions in securities of affiliated issuers.) (Cost $111,450,015) ...... 111,450,200 (d) Represents investment of cash collateral received from securities on loan as of June 30, Total Investments—103.4% 2021. (Cost $2,536,453,876) ...... 3,400,758,777 (e) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Other assets and liabilities (net)—(3.4)% ...... (110,916,839) 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 Net Assets—100.0% ...... $3,289,841,938 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. (f) The rate shown represents the annualized seven-day yield as of June 30, 2021.

Glossary of Abbreviations

Index Abbreviations (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-364 Brighthouse Funds Trust I T. Rowe Price Large Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $3,234,030,541 $ — $— $3,234,030,541 Total Convertible Preferred Stocks* ...... 23,628,461 — — 23,628,461 Total Short-Term Investment* ...... 31,649,575 — — 31,649,575 Securities Lending Reinvestments Certificates of Deposit ...... — 17,999,746 — 17,999,746 Repurchase Agreements ...... — 57,950,454 — 57,950,454 Time Deposits ...... — 9,500,000 — 9,500,000 Mutual Funds ...... 26,000,000 — — 26,000,000 Total Securities Lending Reinvestments ...... 26,000,000 85,450,200 — 111,450,200 Total Investments ...... $3,315,308,577 $ 85,450,200 $— $3,400,758,777 Collateral for Securities Loaned (Liability) ...... $ — $(111,449,688) $— $ (111,449,688)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-365 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—95.8% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—2.7% Containers & Packaging—(Continued) BWX Technologies, Inc...... 186,000 $ 10,810,320 Ball Corp...... 421,000 $ 34,109,420 Textron, Inc...... 529,000 36,379,330 Packaging Corp. of America ...... 43,000 5,823,060 47,189,650 Sealed Air Corp. (b) ...... 242,000 14,338,500 70,249,220 Airlines—1.0% Alaska Air Group, Inc. (a) ...... 132,000 7,960,920 Diversified Consumer Services—1.2% Southwest Airlines Co. (a) ...... 179,000 9,503,110 Bright Horizons Family Solutions, Inc. (a) (b) ...... 44,000 6,472,840 17,464,030 Terminix Global Holdings, Inc. (a) (b) ...... 308,000 14,694,680 21,167,520 Auto Components—1.1% Aptiv plc (a) ...... 120,000 18,879,600 Electric Utilities—0.2% Eversource Energy ...... 43,000 3,450,320 Banks—0.4% Webster Financial Corp. (b) ...... 133,000 7,094,220 Electrical Equipment—0.2% Array Technologies, Inc. (a) (b) ...... 68,527 1,069,021 Beverages—0.4% Shoals Technologies Group, Inc. - Class A (a) (b) ...... 86,000 3,053,000 Boston Beer Co., Inc. (The) - Class A (a) (b) ...... 7,200 7,349,760 4,122,021

Biotechnology—4.6% Electronic Equipment, Instruments & Components—3.4% Alkermes plc (a) ...... 308,000 7,552,160 Amphenol Corp. - Class A ...... 110,000 7,525,100 Alnylam Pharmaceuticals, Inc. (a) (b) ...... 59,000 10,001,680 Cognex Corp...... 52,000 4,370,600 Argenx SE (ADR) (a) ...... 28,100 8,460,067 Corning, Inc...... 340,000 13,906,000 Ascendis Pharma A/S (ADR) (a) ...... 12,000 1,578,600 Keysight Technologies, Inc. (a) ...... 142,000 21,926,220 Exact Sciences Corp. (a) (b) ...... 65,000 8,080,150 National Instruments Corp...... 274,000 11,584,720 Exelixis, Inc. (a) (b) ...... 105,500 1,922,210 Incyte Corp. (a) ...... 152,592 12,837,565 59,312,640 Ionis Pharmaceuticals, Inc. (a) (b) ...... 168,000 6,701,520 Kodiak Sciences, Inc. (a) (b) ...... 13,000 1,209,000 Entertainment—2.1% Neurocrine Biosciences, Inc. (a) ...... 65,000 6,325,800 Liberty Media Corp.-Liberty Formula One - Class C (a) ...... 190,000 9,159,900 Seagen, Inc. (a) ...... 77,000 12,156,760 Playtika Holding Corp. (a) ...... 123,000 2,932,320 Ultragenyx Pharmaceutical, Inc. (a) ...... 45,000 4,290,750 Spotify Technology S.A. (a) ...... 49,000 13,503,910 Zynga, Inc. - Class A (a) (b) ...... 1,064,000 11,310,320 81,116,262 36,906,450 Capital Markets—3.7% Cboe Global Markets, Inc...... 145,000 17,262,250 Food & Staples Retailing—1.0% KKR & Co., Inc...... 308,000 18,245,920 Casey’s General Stores, Inc. (b) ...... 90,000 17,517,600 MarketAxess Holdings, Inc...... 20,000 9,271,800 Raymond James Financial, Inc...... 33,000 4,286,700 Food Products—0.4% Tradeweb Markets, Inc. - Class A (b) ...... 194,000 16,404,640 TreeHouse Foods, Inc. (a) ...... 157,000 6,989,640

65,471,310 Health Care Equipment & Supplies—8.8% Alcon, Inc...... 142,000 9,976,920 Chemicals—0.4% Cooper Cos., Inc. (The) ...... 70,000 27,738,900 RPM International, Inc. (b) ...... 87,000 7,715,160 Dentsply Sirona, Inc...... 76,000 4,807,760 Hologic, Inc. (a) ...... 594,000 39,631,680 Commercial Services & Supplies—0.5% ICU Medical, Inc. (a) (b) ...... 34,000 6,997,200 Waste Connections, Inc...... 69,000 8,240,670 Ortho Clinical Diagnostics Holdings plc (a) (b) ...... 213,000 4,560,330 Quidel Corp. (a) (b) ...... 83,000 10,633,960 Construction Materials—0.5% Teleflex, Inc. (b) ...... 95,000 38,170,050 Martin Marietta Materials, Inc. (b) ...... 22,838 8,034,637 West Pharmaceutical Services, Inc...... 33,000 11,850,300 Consumer Finance—0.4% 154,367,100 Sofi Technologies, Inc. † (a) (d) ...... 354,243 6,677,635 Health Care Providers & Services—1.3% Containers & Packaging—4.0% Acadia Healthcare Co., Inc. (a) ...... 230,000 14,432,500 Avery Dennison Corp. (b) ...... 76,000 15,978,240 agilon health, Inc. (a) ...... 65,151 2,643,176

See accompanying notes to financial statements. BHFTI-366 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Security Description Shares Value Security Description Shares Value

Health Care Providers & Services—(Continued) Life Sciences Tools & Services—5.6% Molina Healthcare, Inc. (a) ...... 23,000 $ 5,820,380 Agilent Technologies, Inc...... 251,000 $ 37,100,310 Avantor, Inc. (a) ...... 648,000 23,010,480 22,896,056 Bruker Corp...... 426,000 32,367,480 PPD, Inc. (a) ...... 135,991 6,267,825 Health Care Technology—1.6% Doximity, Inc. - Class A (a) ...... 33,700 1,961,340 98,746,095 Multiplan Corp. (a) (b) ...... 673,000 6,406,960 Veeva Systems, Inc. - Class A (a) ...... 66,000 20,522,700 Machinery—4.6% Colfax Corp. (a) (b) ...... 392,000 17,957,520 28,891,000 Fortive Corp...... 208,000 14,505,920 IDEX Corp. (b) ...... 85,000 18,704,250 Hotels, Restaurants & Leisure—4.3% Ingersoll Rand, Inc. (a) ...... 615,000 30,018,150 Chipotle Mexican Grill, Inc. (a) ...... 10,000 15,503,400 Domino’s Pizza, Inc...... 22,000 10,262,780 81,185,840 DraftKings, Inc. - Class A (a) (b) ...... 112,000 5,843,040 Hilton Worldwide Holdings, Inc. (a) (b) ...... 175,000 21,108,500 Metals & Mining—0.5% MGM Resorts International ...... 247,000 10,534,550 Kirkland Lake Gold, Ltd. (b) ...... 211,000 8,129,830 Vail Resorts, Inc. (a) (b) ...... 37,000 11,711,240 Multi-Utilities—1.1% 74,963,510 Ameren Corp. (b) ...... 76,000 6,083,040 Sempra Energy (b) ...... 99,000 13,115,520 Household Products—0.3% Reynolds Consumer Products, Inc. (b) ...... 174,000 5,280,900 19,198,560

Industrial Conglomerates—0.9% Multiline Retail—2.0% Roper Technologies, Inc...... 33,000 15,516,600 Dollar General Corp...... 96,000 20,773,440 Dollar Tree, Inc. (a) ...... 142,000 14,129,000 Insurance—1.8% 34,902,440 Assurant, Inc. (b) ...... 96,000 14,993,280 Axis Capital Holdings, Ltd...... 161,000 7,890,610 Oil, Gas & Consumable Fuels—0.2% Bright Health Group, Inc. (a) (b) ...... 78,179 1,341,552 Venture Global LNG, Inc. - Series B † (a) (c) (d) ...... 78 358,027 GoHealth, Inc. - Class A (a) (b) ...... 113,000 1,266,730 Venture Global LNG, Inc. - Series C † (a) (c) (d) ...... 540 2,478,649 Kemper Corp. (b) ...... 51,000 3,768,900 2,836,676 Selectquote, Inc. (a) (b) ...... 75,000 1,444,500 30,705,572 Pharmaceuticals—3.6% Catalent, Inc. (a) ...... 330,000 35,679,600 Interactive Media & Services—2.1% Elanco Animal Health, Inc. (a) ...... 372,000 12,904,680 IAC/InterActiveCorp. (a) ...... 55,000 8,479,350 Perrigo Co. plc ...... 307,000 14,075,950 Match Group, Inc. (a) ...... 108,000 17,415,000 62,660,230 Pinterest, Inc. - Class A (a) ...... 67,000 5,289,650 Vimeo, Inc. (a) ...... 121,257 5,941,593 Professional Services—5.6% 37,125,593 Clarivate plc (a) ...... 781,379 21,511,364 CoStar Group, Inc. (a) (b) ...... 210,000 17,392,200 Internet & Direct Marketing Retail—1.5% Equifax, Inc...... 92,000 22,034,920 Deliveroo Holdings plc † (a) (d) ...... 1,484,400 5,527,106 Legalzoom.com, Inc ...... 11,578 438,227 Etsy, Inc. (a) (b) ...... 71,000 14,614,640 Leidos Holdings, Inc...... 44,000 4,448,400 Farfetch, Ltd. - Class A (a) (b) ...... 111,933 5,636,946 TransUnion ...... 191,000 20,973,710 Verisk Analytics, Inc...... 63,000 11,007,360 25,778,692 97,806,181 IT Services—1.7% Broadridge Financial Solutions, Inc. (b) ...... 43,000 6,945,790 Road & Rail—1.3% FleetCor Technologies, Inc. (a) ...... 76,400 19,562,984 J.B. Hunt Transport Services, Inc. (b) ...... 140,000 22,813,000 Jack Henry & Associates, Inc. (b) ...... 21,000 3,433,710 Squarespace, Inc. - Class A (a) (b) ...... 6,071 360,678 Semiconductors & Semiconductor Equipment—6.8% Entegris, Inc...... 136,000 16,723,920 30,303,162 KLA Corp...... 58,000 18,804,180 Lattice Semiconductor Corp. (a) (b) ...... 50,000 2,809,000

See accompanying notes to financial statements. BHFTI-367 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Semiconductors & Semiconductor Equipment—(Continued) Automobiles—(Continued) Marvell Technology, Inc...... 484,000 $ 28,231,720 Sila Nano, Inc. Microchip Technology, Inc...... 256,000 38,333,440 Series F † (a) (c) (d) ...... 43,934 $ 1,813,279 Skyworks Solutions, Inc...... 77,000 14,764,750 28,296,590 119,667,010 Commercial Services & Supplies—0.1% Software—7.7% Redwood Materials Inc. Atlassian Corp. plc - Class A (a) ...... 53,900 13,844,754 Series C † (a) (c) (d) ...... 18,350 869,854 Bill.com Holdings, Inc. (a) (b) ...... 29,000 5,312,220 Black Knight, Inc. (a) ...... 168,000 13,100,640 Health Care Providers & Services—0.1% Ceridian HCM Holding, Inc. (a) (b) ...... 175,000 16,786,000 Citrix Systems, Inc...... 84,000 9,850,680 Caris Life Sciences, Inc. Clear Secure, Inc. - Class A ...... 23,327 933,080 Series D † (a) (c) (d) ...... 156,199 1,265,212 Confluent, Inc. - Class A (a) ...... 21,352 1,014,220 Crowdstrike Holdings, Inc. - Class A (a) (b) ...... 40,000 10,052,400 Internet & Direct Marketing Retail—0.0% DocuSign, Inc. (a) (b) ...... 87,000 24,322,590 Maplebear, Inc. Five9, Inc. (a) ...... 25,000 4,584,750 Series I † (a) (c) (d) ...... 3,514 439,250 Fortinet Inc (a) ...... 56,000 13,338,640 Ncino, Inc. (a) (b) ...... 45,000 2,696,400 Real Estate Management & Development—0.1% Procore Technologies, Inc. † (a) (d) ...... 14,061 1,223,839 WeWork Cos., Inc. Procore Technologies, Inc. (a) (b) ...... 7,103 674,430 Series D2 † (a) (d) ...... 37,341 319,618 PTC, Inc. (a) (b) ...... 59,000 8,334,340 Series D1 † (a) (d) ...... 89,839 768,973 SentinelOne, Inc. - Class A ...... 29,228 1,242,190 Splunk, Inc. (a) (b) ...... 49,396 7,141,673 1,088,591

134,452,846 Software—0.0% Databricks Group, Ltd. Special Purpose Acquisition Companies—0.2% Series G † (a) (c) (d) ...... 3,374 598,439 Dragoneer Growth Opportunities Corp. † (a) (d) ...... 60,461 541,973 Dragoneer Growth Opportunities Corp. - Class A (a) (b) ...... 56,000 557,760 Textiles, Apparel & Luxury Goods—0.0% Gores Holdings V, Inc. † (a) (d) ...... 216,692 1,969,730 JAND, Inc. 3,069,463 Series AA † (a) (c) (d) ...... 7,692 188,690 Series B † (a) (c) (d) ...... 10 245 Specialty Retail—3.5% Burlington Stores, Inc. (a) ...... 92,000 29,623,080 188,935 Five Below, Inc. (a) ...... 26,000 5,025,020 Total Convertible Preferred Stocks O’Reilly Automotive, Inc. (a) ...... 31,000 17,552,510 (Cost $11,845,820) ...... 32,746,871 Ross Stores, Inc. (b) ...... 75,000 9,300,000 61,500,610 Warrants—0.0% Textiles, Apparel & Luxury Goods—0.6% JAND, Inc. - Class A † (a) (c) (d) ...... 3,714 91,107 Special Purpose Acquisition Companies—0.0% lululemon athletica, Inc. (a) (b) ...... 9,000 3,284,730 Pershing Square Tontine Holdings, Ltd., Expires 07/24/25 (a) VF Corp...... 79,000 6,481,160 (Cost $117,893) ...... 20,761 130,794 9,856,997 Total Common Stocks Short-Term Investment—2.6% (Cost $977,836,623) ...... 1,677,602,308 Mutual Funds—2.6% T. Rowe Price Treasury Reserve Fund (e) ...... 44,820,243 44,820,243 Convertible Preferred Stocks—1.9% Total Short-Term Investments Automobiles—1.6% (Cost $44,820,243) ...... 44,820,243 Rivian Automotive, Inc. Series D † (a) (c) (d) ...... 274,442 19,227,407 Series E † (a) (c) (d) ...... 103,567 7,255,904

See accompanying notes to financial statements. BHFTI-368 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (f)—7.5%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Certificates of Deposit—3.0% Repurchase Agreements—(Continued) Agricultural Bank of China Citigroup Global Markets, Inc. 0.100%, 07/01/21 ...... 300,000 $ 300,000 Repurchase Agreement dated 06/30/21 at 0.430%, due on Bank of Montreal (Chicago) 08/04/21 with a maturity value of $6,002,508; 0.176%, 1M BSBY + 0.120%, 12/01/21 (g) ...... 4,000,000 4,000,050 collateralized by U.S. Treasury Obligations at 2.000%, Bank of Nova Scotia maturing 11/30/22, and various Common Stock with an 0.212%, 3M LIBOR + 0.050%, 11/08/21 (g) ...... 3,000,000 2,999,121 aggregate market value of $6,589,365 ...... 6,000,000 $ 6,000,000 Barclays Bank plc Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.100%, 09/09/21 ...... 4,000,000 3,999,684 08/04/21 with a maturity value of $5,002,090; Cooperatieve Rabobank UA collateralized by U.S. Treasury Obligations at 0.125%, 0.228%, 3M LIBOR + 0.040%, 01/11/22 (g) ...... 2,000,000 2,000,580 maturing 05/31/23, and various Common Stock with an aggregate market value of $5,497,639...... 5,000,000 5,000,000 Credit Industriel et Commercial Repurchase Agreement dated 06/30/21 at 0.430%, due on Zero Coupon, 10/12/21 ...... 4,997,780 4,997,950 08/04/21 with a maturity value of $5,002,090; Industrial & Commercial Bank of China Ltd. collateralized by U.S. Treasury Obligations at 0.125%, 0.110%, 07/22/21 ...... 3,000,000 2,999,871 maturing 05/31/23, and various Common Stock with an Mizuho Bank, Ltd. aggregate market value of $5,497,639...... 5,000,000 5,000,000 0.200%, 09/14/21 ...... 5,000,000 5,000,630 Deutsche Bank AG, London MUFG Bank Ltd. Repurchase Agreement dated 06/30/21 at 0.170%, due on 0.170%, 07/22/21 ...... 2,000,000 2,000,060 07/01/21 with a maturity value of $800,004; Natixis S.A. (New York) collateralized by U.S. Treasury and Foreign Obligations with 0.208%, 3M LIBOR + 0.040%, 02/11/22 (g) ...... 3,000,000 2,999,952 rates ranging from 0.000% - 3.375%, maturity dates ranging Oversea-Chinese Banking Corp., Ltd. from 02/01/22 - 03/11/31, and an aggregate market value 0.167%, 3M LIBOR + 0.020%, 03/25/22 (g) ...... 2,000,000 2,000,008 of $816,001...... 800,000 800,000 Royal Bank of Canada New York HSBC Bank plc 0.240%, 3M LIBOR + 0.040%, 10/05/21 (g) ...... 2,000,000 2,000,354 Repurchase Agreement dated 06/30/21 at 0.100%, due on Sumitomo Mitsui Banking Corp. 07/01/21 with a maturity value of $5,000,014; 0.156%, 1M LIBOR + 0.060%, 12/17/21 (g) ...... 5,000,000 4,999,990 collateralized by U.S. Treasury Obligations with rates ranging Sumitomo Mitsui Trust Bank (London) from 0.099% - 6.125%, maturity dates ranging from Zero Coupon, 09/01/21 ...... 1,999,018 1,999,500 08/31/21 - 02/15/50, and an aggregate market value of Sumitomo Mitsui Trust Bank, Ltd. $5,102,055...... 5,000,000 5,000,000 Zero Coupon, 08/09/21 ...... 2,997,968 2,999,550 National Bank of Canada Svenska Handelsbanken AB Repurchase Agreement dated 06/30/21 at 0.210%, due on 0.145%, 3M LIBOR + 0.020%, 09/17/21 (g) ...... 3,000,000 3,000,060 07/07/21 with a maturity value of $10,000,408; 0.220%, 3M LIBOR + 0.070%, 11/19/21 (g) ...... 1,000,000 1,000,242 collateralized by various Common Stock with an aggregate Toronto-Dominion Bank market value of $11,111,176...... 10,000,000 10,000,000 0.267%, 3M LIBOR + 0.070%, 10/08/21 (g) ...... 3,000,000 2,999,734 NBC Global Finance, Ltd. Repurchase Agreement dated 06/30/21 at 0.245%, due on 52,297,336 07/07/21 with a maturity value of $1,500,071; collateralized by U.S. Treasury Obligations with rates ranging Commercial Paper—0.1% from 1.875% - 3.000%, maturity dates ranging from Bedford Row Funding Corp. 07/31/22 - 02/15/49, and various Common Stock with an 0.266%, 3M LIBOR + 0.080%, 10/21/21 (g) ...... 2,000,000 2,000,812 aggregate market value of $1,666,667...... 1,500,000 1,500,000 Repurchase Agreement dated 06/30/21 at 0.260%, due on Repurchase Agreements—2.3% 07/07/21 with a maturity value of $2,500,126; Barclays Bank plc collateralized by U.S. Treasury Obligations with rates ranging Repurchase Agreement dated 06/30/21 at 0.200%, due on from 2.125% - 3.875%, maturity dates ranging from 07/01/21 with a maturity value of $3,800,021; 12/31/23 - 04/15/29, and various Common Stock with an collateralized by various Common Stock with an aggregate aggregate market value of $2,778,269...... 2,500,000 2,500,000 market value of $4,222,546...... 3,800,000 3,800,000 41,278,489 BofA Securities, Inc. Repurchase Agreement dated 06/30/21 at 0.050%, due on Time Deposits — 0.8% 07/01/21 with a maturity value of $1,678,492; DZ Bank AG collateralized by U.S. Treasury Bond at 2.875%, maturing 0.040%, 07/01/21 ...... 4,000,000 4,000,000 05/15/49, and an aggregate market value of $1,712,059. . . 1,678,489 1,678,489 Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 4,000,000 4,000,000 0.130%, 07/01/21 ...... 800,000 800,000

See accompanying notes to financial statements. BHFTI-369 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (f)—(Continued)

Shares/ * Principal amount stated in U.S. dollars unless otherwise noted. Principal † Restricted securities are not registered under the Securities Act of 1933 and are subject Security Description Amount* Value to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale Time Deposits —(Continued) at an acceptable price may be difficult. As of June 30, 2021, the market value of National Bank of Canada restricted securities was $51,614,936, which is 2.9% of net assets. See details shown in 0.130%, OBFR + 0.050%, 07/07/21 (g) ...... 5,000,000 $ 5,000,000 the Restricted Securities table that follows. 13,800,000 (a) Non-income producing security. (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Mutual Funds — 1.3% of securities loaned was $131,275,521 and the collateral received consisted of cash in BlackRock Liquidity Funds FedFund, Institutional Shares the amount of $132,573,240 and non-cash collateral with a value of $2,189,412. The cash collateral investments are disclosed in the Schedule of Investments and categorized 0.030% (h) ...... 5,000,000 5,000,000 as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. Goldman Sachs Financial Square Government Fund, Institutional government securities that are held in safe-keeping by the lending agent, or a third- Shares party custodian, and cannot be sold or repledged by the Portfolio. 0.020% (h) ...... 5,000,000 5,000,000 (c) Significant unobservable inputs were used in the valuation of this portfolio security; i.e. STIT-Government & Agency Portfolio, Institutional Class Level 3. 0.030% (h) ...... 5,000,000 5,000,000 (d) Security was valued in good faith under procedures approved by the Board of Trustees. U.S. Government Money Market Fund, Institutional Share As of June 30, 2021, these securities represent 2.9% of net assets. 0.010% (h) ...... 3,199,984 3,199,984 (e) Affiliated Issuer. (See Note 6 of the Notes to Financial Statements for a summary of Wells Fargo Government Money Market Fund, Select Class transactions in securities of affiliated issuers.) 0.030% (h) ...... 5,000,000 5,000,000 (f) Represents investment of cash collateral received from securities on loan as of June 30, 2021. 23,199,984 (g) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Total Securities Lending Reinvestments Maturity date shown for callable securities reflects the earliest possible call date. For (Cost $132,575,379) ...... 132,576,621 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 Total Investments— 107.8% determined by the issuer/agent based on current market conditions. For certain asset- (Cost $1,167,195,958) ...... 1,887,876,837 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Other assets and liabilities (net) — (7.8)% ...... (137,132,750) underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above. Net Assets — 100.0% ...... $1,750,744,087 (h) The rate shown represents the annualized seven-day yield as of June 30, 2021.

Acquisition Restricted Securities Date Shares Cost Value Caris Life Sciences, Inc.—Series D ...... 05/11/21 156,199 $1,265,212 $ 1,265,212 Databricks Group, Ltd.—Series G ...... 02/01/21 3,374 598,439 598,439 Deliveroo Holdings plc ...... 09/12/17-05/16/19 1,484,400 2,635,073 5,527,106 Dragoneer Growth Opportunities Corp...... 03/15/21 60,461 604,610 541,973 Gores Holdings V, Inc...... 03/15/21 216,692 2,166,920 1,969,730 JAND, Inc.—Class A ...... 11/19/20 3,714 91,300 91,107 JAND, Inc.—Series AA ...... 11/19/20 7,692 188,988 188,690 JAND, Inc.—Series B ...... 11/19/20 10 246 245 Maplebear, Inc.—Series I ...... 02/26/21 3,514 439,250 439,250 Procore Technologies, Inc...... 07/15/20 14,061 759,065 1,223,839 Redwood Materials, Inc.—Series C ...... 05/28/21 18,350 869,853 869,853 Rivian Automotive, Inc.—Series D ...... 12/23/19 274,442 2,948,605 19,227,407 Rivian Automotive, Inc.—Series E ...... 07/10/20 103,567 1,604,253 7,255,904 Sila Nano, Inc.—Series F ...... 01/07/21 43,934 1,813,279 1,813,279 Sofi Technologies, Inc...... 12/30/20 354,243 3,613,717 6,677,635 Venture Global LNG, Inc.—Series B ...... 03/08/18 78 235,560 358,027 Venture Global LNG, Inc.—Series C ...... 10/16/17-03/08/18 540 1,987,525 2,478,649 WeWork Cos., Inc.—Series D2 ...... 12/09/14 37,341 621,771 319,618 WeWork Cos., Inc.—Series D1 ...... 12/09/14 89,839 1,495,924 768,973 $51,614,936

See accompanying notes to financial statements. BHFTI-370 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ADR)— American Depositary Receipt

See accompanying notes to financial statements. BHFTI-371 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Common Stocks Aerospace & Defense ...... $ 47,189,650 $ — $ — $ 47,189,650 Airlines ...... 17,464,030 — — 17,464,030 Auto Components ...... 18,879,600 — — 18,879,600 Banks ...... 7,094,220 — — 7,094,220 Beverages ...... 7,349,760 — — 7,349,760 Biotechnology ...... 81,116,262 — — 81,116,262 Capital Markets ...... 65,471,310 — — 65,471,310 Chemicals ...... 7,715,160 — — 7,715,160 Commercial Services & Supplies ...... 8,240,670 — — 8,240,670 Construction Materials ...... 8,034,637 — — 8,034,637 Consumer Finance ...... — 6,677,635 — 6,677,635 Containers & Packaging ...... 70,249,220 — — 70,249,220 Diversified Consumer Services ...... 21,167,520 — — 21,167,520 Electric Utilities ...... 3,450,320 — — 3,450,320 Electrical Equipment ...... 4,122,021 — — 4,122,021 Electronic Equipment, Instruments & Components ...... 59,312,640 — — 59,312,640 Entertainment ...... 36,906,450 — — 36,906,450 Food & Staples Retailing ...... 17,517,600 — — 17,517,600 Food Products ...... 6,989,640 — — 6,989,640 Health Care Equipment & Supplies ...... 154,367,100 — — 154,367,100 Health Care Providers & Services ...... 22,896,056 — — 22,896,056 Health Care Technology ...... 28,891,000 — — 28,891,000 Hotels, Restaurants & Leisure ...... 74,963,510 — — 74,963,510 Household Products ...... 5,280,900 — — 5,280,900 Industrial Conglomerates ...... 15,516,600 — — 15,516,600 Insurance ...... 30,705,572 — — 30,705,572 Interactive Media & Services ...... 37,125,593 — — 37,125,593 Internet & Direct Marketing Retail ...... 20,251,586 5,527,106 — 25,778,692 IT Services ...... 30,303,162 — — 30,303,162 Life Sciences Tools & Services ...... 98,746,095 — — 98,746,095 Machinery ...... 81,185,840 — — 81,185,840 Metals & Mining ...... 8,129,830 — — 8,129,830 Multi-Utilities ...... 19,198,560 — — 19,198,560 Multiline Retail ...... 34,902,440 — — 34,902,440 Oil, Gas & Consumable Fuels ...... — — 2,836,676 2,836,676 Pharmaceuticals ...... 62,660,230 — — 62,660,230 Professional Services ...... 97,806,181 — — 97,806,181 Road & Rail ...... 22,813,000 — — 22,813,000 Semiconductors & Semiconductor Equipment ...... 119,667,010 — — 119,667,010 Software ...... 133,229,007 1,223,839 — 134,452,846

See accompanying notes to financial statements. BHFTI-372 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy—(Continued) Description Level 1 Level 2 Level 3 Total Special Purpose Acquisition Companies ...... $ 557,760 $ 2,511,703 $ — $ 3,069,463 Specialty Retail ...... 61,500,610 — — 61,500,610 Textiles, Apparel & Luxury Goods ...... 9,765,890 — 91,107 9,856,997 Total Common Stocks ...... 1,658,734,242 15,940,283 2,927,783 1,677,602,308 Convertible Preferred Stocks Automobiles ...... — — 28,296,590 28,296,590 Commercial Services & Supplies ...... — — 869,854 869,854 Health Care Providers & Services ...... — — 1,265,212 1,265,212 Internet & Direct Marketing Retail ...... — — 439,250 439,250 Real Estate Management & Development ...... — 1,088,591 — 1,088,591 Software ...... — — 598,439 598,439 Textiles, Apparel & Luxury Goods ...... — — 188,935 188,935 Total Convertible Preferred Stocks ...... — 1,088,591 31,658,280 32,746,871 Total Warrants* ...... 130,794 — — 130,794 Total Short-Term Investment* ...... 44,820,243 — — 44,820,243 Securities Lending Reinvestments Certificates of Deposit ...... — 52,297,336 — 52,297,336 Commercial Paper ...... — 2,000,812 — 2,000,812 Repurchase Agreements ...... — 41,278,489 — 41,278,489 Time Deposits ...... — 13,800,000 — 13,800,000 Mutual Funds ...... 23,199,984 — — 23,199,984 Total Securities Lending Reinvestments ...... 23,199,984 109,376,637 — 132,576,621 Total Investments ...... $1,726,885,263 $ 126,405,511 $34,586,063 $1,887,876,837 Collateral for Securities Loaned (Liability) ...... $ — $(132,573,240) $ — $ (132,573,240)

* See Schedule of Investments for additional detailed categorizations.

During the period ended June 30, 2021, transfers from Level 3 to Level 2 in the amount of $9,274,059 were due to the initiation of trading activity which resulted in the availability of significant observable inputs.

See accompanying notes to financial statements. BHFTI-373 Brighthouse Funds Trust I T. Rowe Price Mid Cap Growth Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Change in Unrealized Appreciation/ (Depreciation) Change in Balance from Investments Balance as of Unrealized as of Held at December 31, Appreciation/ Transfer June 30, June 30, Investments in Securities 2020 (Depreciation) Purchases out 2021 2021 Common Stocks IT Services ...... $ 3,613,718 $ — $ — $(3,613,718) $ — $ — Oil, Gas & Consumable Fuels ...... 3,439,349 (602,673) — — 2,836,676 (602,673) Software ...... 707,805 — — (707,805) — — Textiles, Apparel & Luxury Goods ...... 91,107 — — — 91,107 — Convertible Preferred Stocks Automobiles ...... 6,002,783 20,480,528 1,813,279 — 28,296,590 20,480,528 Commercial Services & Supplies ...... — — 869,854 — 869,854 — Health Care Providers & Services ...... — — 1,265,212 — 1,265,212 — Internet & Direct Marketing Retail ...... 4,774,498 — 439,250 (4,774,498) 439,250 — Real Estate Management & Development ...... 0 — — (0) — — Software ...... 178,038 — 598,439 (178,038) 598,439 — Textiles, Apparel & Luxury Goods ...... 188,934 1 — 188,935 1 $18,996,232 $19,877,856 $4,986,034 $(9,274,059) $34,586,063 $19,877,856

Relationship Between Fair Value and Input; if Fair Value at input value June 30, Weighted increases 2021 Valuation Technique(s) Unobservable Input Range Average then Fair Value: Common Stock Oil, Gas & Consumable Fuels ...... $ 2,836,676 Market Transaction Method Precedent Transaction $5,200.00 $5,200.00 $5,200.00 Increase Comparable Company Analysis Enterprise Value/EBITDA 10.8x 12.7x 11.8x Increase Discount for Lack of Marketability 10.00% 10.00% 10.00% Decrease Textiles, Apparel & Luxury Goods . . 91,107 Market Transaction Method Precedent Transaction $ 24.53 $ 24.53 $ 24.53 Increase Convertible Preferred Stocks Automobiles...... 26,483,311 Market Transaction Method Pending Transaction $ 70.06 $ 70.06 $ 70.06 Increase 1,813,279 Market Transaction Method Precedent Transaction $ 41.27 $ 41.27 $ 41.27 Increase CommercialServices&Supplies .... 869,854 Market Transaction Method Precedent Transaction $ 47.40 $ 47.40 $ 47.40 Increase HealthCareProviders&services.... 1,265,212 Market Transaction Method Precedent Transaction $ 8.10 $ 8.10 $ 8.10 Increase Internet & Direct Marketing Retail . . . 439,250 Market Transaction Method Precedent Transaction $ 125.00 $ 125.00 $ 125.00 Increase Software...... 598,439 Market Transaction Method Precedent Transaction $ 177.37 $ 177.37 $ 177.37 Increase Textiles, Apparel & Luxury Goods . . . 188,935 Market Transaction Method Precedent Transaction $ 24.53 $ 24.53 $ 24.53 Increase

See accompanying notes to financial statements. BHFTI-374 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—72.9% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—32.0% Agency Sponsored Mortgage-Backed—(Continued) Fannie Mae 15 Yr. Pool Freddie Mac REMICS (CMO) 3.000%, 06/01/32 ...... 781,548 $ 825,912 3.000%, 04/15/48 ...... 1,276,684 $ 1,325,224 Fannie Mae 20 Yr. Pool Ginnie Mae II 30 Yr. Pool 2.000%, 08/01/40 ...... 3,136,392 3,201,795 2.000%, TBA (a) ...... 15,750,000 16,011,475 2.000%, 10/01/40 ...... 7,653,307 7,812,932 2.500%, TBA (a) ...... 28,075,000 29,001,695 2.000%, 11/01/40 ...... 4,501,426 4,580,167 3.000%, 10/20/46 ...... 1,322,088 1,389,399 2.000%, 07/01/41 ...... 4,425,000 4,517,388 3.000%, 12/20/46 ...... 4,059,497 4,282,264 Fannie Mae 30 Yr. Pool 3.000%, 04/20/47 ...... 816,710 861,021 3.000%, 07/01/45 ...... 10,526,936 11,232,160 3.000%, 11/20/47 ...... 1,554,283 1,634,748 3.000%, 09/01/49 ...... 5,752,600 6,073,995 3.500%, 04/20/46 ...... 2,989,736 3,174,175 3.500%, 01/01/48 ...... 4,349,342 4,610,522 3.500%, 05/20/46 ...... 1,347,572 1,436,270 3.500%, 02/01/48 ...... 2,382,807 2,526,186 3.500%, 06/20/46 ...... 302,485 321,866 4.000%, 06/01/47 ...... 1,294,670 1,388,666 3.500%, 11/20/46 ...... 4,552,299 4,837,922 4.500%, 02/01/46 ...... 2,183,620 2,402,466 3.500%, 01/20/47 ...... 779,508 830,687 4.500%, 05/01/48 ...... 6,504,070 7,015,525 3.500%, 09/20/47 ...... 1,558,416 1,649,073 4.500%, 08/01/48 ...... 1,308,062 1,410,717 3.500%, 11/20/47 ...... 3,155,595 3,349,122 Fannie Mae Pool 4.000%, 11/20/47 ...... 1,644,423 1,756,419 2.455%, 04/01/40 ...... 2,790,000 2,947,347 4.000%, 12/20/47 ...... 1,496,005 1,596,877 3.000%, 10/01/49 ...... 1,949,792 1,994,887 4.000%, 03/20/48 ...... 1,140,351 1,214,541 3.500%, 01/01/44 ...... 3,570,710 3,853,300 4.000%, 10/20/48 ...... 2,242,160 2,388,541 4.000%, 08/01/42 ...... 553,406 607,116 4.500%, 02/20/47 ...... 2,834,070 3,094,643 Fannie Mae REMICS (CMO) 4.500%, 06/20/47 ...... 4,629,307 5,005,157 3.000%, 06/25/48 ...... 3,030,479 3,153,912 5.000%, 06/20/47 ...... 2,473,366 2,712,745 3.500%, 01/25/47 ...... 5,549,920 5,773,499 5.000%, 09/20/47 ...... 1,353,447 1,479,074 3.500%, 06/25/47 ...... 2,481,225 2,583,498 Ginnie Mae II Pool Freddie Mac 15 Yr. Gold Pool 3.000%, 10/20/49 ...... 2,062,224 2,119,143 3.000%, 03/01/31 ...... 1,179,518 1,247,367 3.500%, 07/20/49 ...... 377,637 389,641 3.000%, 06/01/33 ...... 339,133 357,513 Government National Mortgage Association (CMO) 3.500%, 11/01/33 ...... 1,813,847 1,941,188 3.500%, 09/20/48 ...... 2,290,955 2,455,822 3.500%, 01/01/34 ...... 3,082,588 3,322,430 Uniform Mortgage-Backed Securities 15 Yr. Pool Freddie Mac 30 Yr. Gold Pool 1.500%, TBA (a) ...... 22,625,000 22,868,076 3.000%, 09/01/46 ...... 1,405,397 1,479,981 2.000%, TBA (a) ...... 31,075,000 32,006,082 3.000%, 10/01/46 ...... 3,779,939 4,001,211 Uniform Mortgage-Backed Securities 30 Yr. Pool 3.000%, 11/01/46 ...... 5,824,045 6,166,917 2.000%, TBA (a) ...... 151,375,000 152,545,792 3.000%, 01/01/47 ...... 6,994,931 7,399,154 2.500%, TBA (a) ...... 151,550,000 156,451,695 3.500%, 01/01/44 ...... 2,570,071 2,777,812 3.500%, 04/01/45 ...... 4,040,974 4,421,351 663,330,426 3.500%, 11/01/45 ...... 469,682 502,834 3.500%, 06/01/46 ...... 1,738,695 1,843,778 U.S. Treasury—40.9% 3.500%, 08/01/46 ...... 1,873,132 2,022,300 U.S. Treasury Bonds 3.500%, 04/01/47 ...... 9,084,146 9,862,311 1.875%, 02/15/41 ...... 21,668,000 21,210,941 3.500%, 12/01/47 ...... 15,252,741 16,409,754 1.875%, 02/15/51 (b) ...... 25,945,000 24,761,259 3.500%, 01/01/48 ...... 16,237,535 17,749,071 2.375%, 05/15/51 (b) ...... 87,445,000 93,361,201 3.500%, 03/01/48 ...... 12,130,569 13,143,042 U.S. Treasury Notes 4.000%, 01/01/45 ...... 2,790,744 3,082,843 0.125%, 04/30/23 ...... 158,650,000 158,352,531 4.000%, 12/01/45 ...... 6,513,665 7,174,413 0.125%, 05/31/23 (b) ...... 153,505,000 153,175,204 4.000%, 03/01/48 ...... 573,868 628,224 0.125%, 06/30/23 ...... 92,160,000 91,940,400 4.000%, 06/01/48 ...... 40,559 44,189 0.750%, 04/30/26 (b) ...... 98,325,000 97,825,694 4.000%, 11/01/48 ...... 933,343 1,021,363 0.750%, 05/31/26 (b) ...... 85,110,000 84,624,607 4.500%, 10/01/48 ...... 2,613,307 2,819,273 0.875%, 06/30/26 ...... 73,575,000 73,540,512 5.000%, 06/01/48 ...... 803,778 883,696 1.625%, 05/15/31 (b) ...... 47,945,000 48,679,158 5.000%, 08/01/48 ...... 126,640 139,149 5.000%, 10/01/48 ...... 1,476,576 1,620,327 847,471,507 Freddie Mac 30 Yr. Pool Total U.S. Treasury & Government Agencies 3.000%, 01/01/50 ...... 7,576,898 8,029,680 (Cost $1,493,864,346) ...... 1,510,801,933 Freddie Mac Multifamily Structured Pass-Through Certificates 3.750%, 04/25/33 ...... 5,465,000 6,538,076

See accompanying notes to financial statements. BHFTI-375 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—22.2%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Aerospace/Defense—0.3% Banks—(Continued) BAE Systems Holdings, Inc. Goldman Sachs Group, Inc. (The) 3.850%, 12/15/25 (144A) ...... 1,500,000 $ 1,656,629 1.093%, SOFR + 0.789%, 12/09/26 (c) ...... 1,025,000 $ 1,009,085 Boeing Co. (The) 1.431%, SOFR + 0.798%, 03/09/27 (c) ...... 5,605,000 5,589,198 1.433%, 02/04/24 ...... 3,500,000 3,509,262 1.542%, SOFR + 0.818%, 09/10/27 (c) ...... 1,970,000 1,964,455 5,165,891 HSBC Holdings plc 0.976%, SOFR + 0.708%, 05/24/25 (c) ...... 1,600,000 1,598,656 Agriculture—0.7% 1.589%, SOFR + 1.290%, 05/24/27 (c) ...... 1,325,000 1,327,554 BAT Capital Corp. 2.013%, SOFR + 1.732%, 09/22/28 (c) ...... 5,400,000 5,418,396 2.726%, 03/25/31 (b) ...... 435,000 429,466 2.633%, SOFR + 1.402%, 11/07/25 (c) ...... 1,835,000 1,925,894 4.390%, 08/15/37 ...... 830,000 894,974 JPMorgan Chase & Co. 4.540%, 08/15/47 (b) ...... 5,370,000 5,710,573 0.969%, SOFR + 0.580%, 06/23/25 (b) (c) ...... 3,370,000 3,373,982 Imperial Brands Finance plc 1.578%, SOFR + 0.885%, 04/22/27 (b) (c) ...... 2,735,000 2,749,170 3.125%, 07/26/24 (144A) ...... 2,800,000 2,947,363 2.005%, SOFR + 1.585%, 03/13/26 (c) ...... 1,700,000 1,755,080 Reynolds American, Inc. 2.083%, SOFR + 1.850%, 04/22/26 (c) ...... 4,385,000 4,534,284 5.700%, 08/15/35 ...... 1,170,000 1,412,930 Lloyds Banking Group plc 5.850%, 08/15/45 ...... 1,805,000 2,210,142 1.627%, 1Y H15 + 0.850%, 05/11/27 (c) ...... 1,200,000 1,200,620 2.858%, 3M LIBOR + 1.249%, 03/17/23 (c) ...... 2,330,000 2,369,857 13,605,448 3.870%, 1Y H15 + 3.500%, 07/09/25 (c) ...... 2,515,000 2,724,679 Macquarie Group Ltd. Airlines—0.1% 1.629%, SOFR + 0.910%, 09/23/27 (144A) (c) ...... 3,100,000 3,076,460 American Airlines Pass-Through Trust Morgan Stanley 4.000%, 07/15/25 ...... 1,026,423 998,333 1.593%, SOFR + 0.879%, 05/04/27 (c) ...... 2,740,000 2,759,386 U.S. Airways Pass-Through Trust 3.875%, 01/27/26 ...... 2,010,000 2,247,171 6.250%, 04/22/23 ...... 1,187,267 1,207,246 Natwest Group plc 2,205,579 4.269%, 3M LIBOR + 1.762%, 03/22/25 (c) ...... 1,885,000 2,044,629 Santander UK Group Holdings plc Auto Manufacturers—0.6% 1.089%, SOFR + 0.787%, 03/15/25 (b) (c) ...... 3,445,000 3,456,015 Ford Motor Credit Co. LLC 1.673%, SOFR + 0.989%, 06/14/27 (c) ...... 1,250,000 1,248,088 1.068%, 3M LIBOR + 0.880%, 10/12/21 (c) ...... 2,205,000 2,202,185 3.571%, 01/10/23 (b) ...... 1,200,000 1,219,219 3.219%, 01/09/22 ...... 1,889,000 1,909,212 Santander UK plc 3.339%, 03/28/22 ...... 2,155,000 2,186,678 5.000%, 11/07/23 (144A) ...... 3,950,000 4,306,211 General Motors Co. Wells Fargo & Co. 4.875%, 10/02/23 (b) ...... 3,330,000 3,627,819 2.164%, 3M LIBOR + 0.750%, 02/11/26 (c) ...... 5,625,000 5,838,270 General Motors Financial Co., Inc. 2.393%, SOFR + 2.100%, 06/02/28 (c) ...... 2,035,000 2,110,489 3.150%, 06/30/22 ...... 1,290,000 1,320,907 2.879%, SOFR + 1.432%, 10/30/30 (c) ...... 4,095,000 4,336,473 3.450%, 04/10/22 ...... 405,000 412,457 101,364,763 4.200%, 11/06/21 ...... 645,000 653,448 4.375%, 09/25/21 ...... 720,000 726,690 Beverages—0.4% 13,039,396 Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. 4.900%, 02/01/46 ...... 2,374,000 3,004,891 Banks—4.9% Anheuser-Busch InBev Worldwide, Inc. Bank of America Corp. 4.500%, 06/01/50 ...... 1,100,000 1,338,689 1.658%, SOFR + 0.910%, 03/11/27 (b) (c) ...... 6,320,000 6,370,216 4.600%, 04/15/48 ...... 1,200,000 1,465,012 1.734%, SOFR + 0.960%, 07/22/27 (c) ...... 6,315,000 6,363,570 Bacardi, Ltd. 2.087%, SOFR + 1.060%, 06/14/29 (b) (c) ...... 1,570,000 1,582,704 5.300%, 05/15/48 (144A) (b) ...... 1,980,000 2,581,346 Citigroup, Inc. 8,389,938 1.122%, SOFR + 0.765%, 01/28/27 (b) (c) ...... 3,790,000 3,736,337 1.462%, SOFR + 0.770%, 06/09/27 (b) (c) ...... 3,085,000 3,071,718 Chemicals—0.1% Credit Suisse Group AG International Flavors & Fragrances, Inc. 1.305%, SOFR + 0.980%, 02/02/27 (144A) (c) ...... 1,310,000 1,283,080 3.468%, 12/01/50 (144A) ...... 85,000 88,354 2.193%, SOFR + 2.044%, 06/05/26 (144A) (c) ...... 2,720,000 2,785,036 5.000%, 09/26/48 ...... 2,030,000 2,625,265 2.593%, SOFR + 1.560%, 09/11/25 (144A) (c) ...... 2,250,000 2,340,843 3.091%, SOFR + 1.730%, 05/14/32 (144A) (c) ...... 2,690,000 2,771,377 2,713,619 4.282%, 01/09/28 (144A) ...... 340,000 378,212 4.550%, 04/17/26 ...... 440,000 498,349

See accompanying notes to financial statements. BHFTI-376 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Commercial Services—0.3% Electric—(Continued) IHS Markit, Ltd. Public Service Co. of New Mexico 4.750%, 02/15/25 (144A) ...... 2,445,000 $ 2,737,178 3.850%, 08/01/25 ...... 3,135,000 $ 3,391,355 4.750%, 08/01/28 ...... 1,500,000 1,768,650 Southwestern Electric Power Co. 5.000%, 11/01/22 (144A) ...... 1,535,000 1,607,972 4.100%, 09/15/28 ...... 3,000,000 3,411,087 6,113,800 33,229,749

Diversified Financial Services—1.6% Food—0.3% AerCap Ireland Capital DAC / AerCap Global Aviation Trust Kraft Heinz Foods Co. 3.300%, 01/23/23 ...... 1,685,000 1,747,604 4.875%, 10/01/49 (b) ...... 1,645,000 1,996,950 3.875%, 01/23/28 ...... 475,000 508,424 5.000%, 07/15/35 ...... 1,000,000 1,226,620 3.950%, 02/01/22 ...... 2,480,000 2,521,892 5.200%, 07/15/45 ...... 1,915,000 2,377,360 4.500%, 09/15/23 ...... 1,765,000 1,892,566 Kroger Co. (The) Air Lease Corp. 5.400%, 01/15/49 ...... 847,000 1,155,318 2.300%, 02/01/25 ...... 4,715,000 4,874,281 Avolon Holdings Funding, Ltd. 6,756,248 2.875%, 02/15/25 (144A) ...... 1,995,000 2,054,055 3.950%, 07/01/24 (144A) ...... 560,000 597,230 Gas—0.3% 5.125%, 10/01/23 (144A) ...... 150,000 162,166 Southern Co. Gas Capital Corp. GE Capital Funding LLC 3.250%, 06/15/26 ...... 4,000,000 4,333,699 4.400%, 05/15/30 ...... 215,000 250,546 Spire, Inc. GE Capital International Funding Co. 4.700%, 08/15/44 (b) ...... 1,000,000 1,151,936 4.418%, 11/15/35 ...... 10,635,000 12,745,851 5,485,635 Park Aerospace Holdings, Ltd. 4.500%, 03/15/23 (144A) ...... 2,330,000 2,449,243 Healthcare-Services—1.5% 5.500%, 02/15/24 (144A) ...... 1,395,000 1,533,529 Aetna, Inc. Raymond James Financial, Inc. 2.800%, 06/15/23 ...... 2,000,000 2,081,528 4.950%, 07/15/46 ...... 995,000 1,285,944 Anthem, Inc. 32,623,331 3.650%, 12/01/27 ...... 2,235,000 2,501,441 Centene Corp. Electric—1.6% 3.000%, 10/15/30 (b) ...... 4,362,000 4,480,995 Appalachian Power Co. CommonSpirit Health 3.300%, 06/01/27 ...... 760,000 823,154 2.782%, 10/01/30 ...... 870,000 902,801 4.450%, 06/01/45 ...... 1,440,000 1,718,091 Fresenius Medical Care U.S. Finance III, Inc. Duke Energy Carolinas LLC 1.875%, 12/01/26 (144A) ...... 2,050,000 2,050,059 4.250%, 12/15/41 ...... 1,300,000 1,577,268 HCA, Inc. Duke Energy Corp. 4.125%, 06/15/29 ...... 2,493,000 2,807,308 2.550%, 06/15/31 ...... 680,000 688,108 5.000%, 03/15/24 ...... 1,000,000 1,104,925 Duke Energy Progress LLC 5.250%, 04/15/25 ...... 1,000,000 1,144,069 4.100%, 05/15/42 ...... 1,000,000 1,173,015 5.250%, 06/15/26 ...... 1,505,000 1,742,128 4.100%, 03/15/43 ...... 2,325,000 2,755,970 5.250%, 06/15/49 ...... 3,200,000 4,079,014 El Paso Electric Co. New York and Presbyterian Hospital (The) 3.300%, 12/15/22 ...... 825,000 838,353 3.563%, 08/01/36 ...... 4,490,000 5,080,629 Evergy Metro, Inc. UnitedHealth Group, Inc. 4.200%, 03/15/48 ...... 2,250,000 2,715,353 4.250%, 04/15/47 ...... 1,995,000 2,451,209 FirstEnergy Transmission LLC 30,426,106 4.350%, 01/15/25 (144A) ...... 3,430,000 3,763,122 International Transmission Co. Insurance—0.7% 4.625%, 08/15/43 ...... 2,750,000 3,409,238 Arthur J Gallagher & Co. MidAmerican Energy Co. 2.500%, 05/20/31 ...... 2,045,000 2,065,366 4.800%, 09/15/43 ...... 905,000 1,176,776 Athene Global Funding PacifiCorp 0.739%, SOFR + 0.700%, 05/24/24 (144A) (c) ...... 4,105,000 4,138,127 3.350%, 07/01/25 ...... 2,000,000 2,166,302 Pennsylvania Electric Co. Farmers Exchange Capital III 3.250%, 03/15/28 (144A) ...... 570,000 598,530 5.454%, 3M LIBOR + 3.454%, 10/15/54 (144A) (c) ...... 3,530,000 4,417,553 4.150%, 04/15/25 (144A) ...... 2,800,000 3,024,027

See accompanying notes to financial statements. BHFTI-377 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Insurance—(Continued) Pharmaceuticals—(Continued) Farmers Insurance Exchange AbbVie, Inc. 4.747%, 3M LIBOR + 3.231%, 11/01/57 (144A) (c) ...... 90,000 $ 102,192 4.400%, 11/06/42 ...... 2,600,000 $ 3,157,077 Teachers Insurance & Annuity Association of America 4.450%, 05/14/46 ...... 1,384,000 1,671,347 4.375%, 3M LIBOR + 2.661%, 09/15/54 (144A) (c) ...... 3,500,000 3,697,257 4.500%, 05/14/35 ...... 254,000 305,942 14,420,495 4.550%, 03/15/35 ...... 775,000 940,625 Bayer U.S. Finance LLC Internet—0.1% 4.250%, 12/15/25 (144A) ...... 1,195,000 1,331,644 Tencent Holdings, Ltd. 4.375%, 12/15/28 (144A) ...... 3,900,000 4,468,067 3.680%, 04/22/41 (144A) ...... 920,000 984,687 4.400%, 07/15/44 (144A) ...... 1,205,000 1,374,712 3.840%, 04/22/51 (144A) ...... 910,000 979,726 4.625%, 06/25/38 (144A) ...... 1,250,000 1,482,781 4.875%, 06/25/48 (144A) (b) ...... 1,965,000 2,467,229 1,964,413 Cigna Corp. 3.400%, 03/15/51 ...... 739,000 771,553 Media—0.6% 3.875%, 10/15/47 ...... 3,350,000 3,741,727 Charter Communications Operating LLC / Charter Communications CVS Health Corp. Operating Capital Corp. 5.050%, 03/25/48 ...... 6,475,000 8,410,220 5.375%, 05/01/47 ...... 4,700,000 5,759,428 5.125%, 07/20/45 ...... 275,000 357,679 Time Warner Cable LLC 5.500%, 09/01/41 ...... 2,065,000 2,559,525 31,527,868 ViacomCBS, Inc. 4.200%, 05/19/32 (b) ...... 2,000,000 2,308,250 Pipelines—1.2% Walt Disney Co. (The) Enbridge Energy Partners L.P. 3.600%, 01/13/51 (b) ...... 1,275,000 1,445,222 5.875%, 10/15/25 (b) ...... 850,000 1,002,643 Energy Transfer L.P. 12,072,425 5.000%, 05/15/50 ...... 1,425,000 1,647,035 5.150%, 03/15/45 (b) ...... 2,352,000 2,720,244 Oil & Gas—0.7% 5.400%, 10/01/47 ...... 1,200,000 1,421,697 Chevron USA, Inc. 6.500%, 02/01/42 (b) ...... 3,048,000 3,957,296 5.050%, 11/15/44 ...... 1,050,000 1,408,005 Kinder Morgan, Inc. Exxon Mobil Corp. 5.550%, 06/01/45 ...... 1,275,000 1,650,641 3.452%, 04/15/51 ...... 1,773,000 1,929,670 Plains All American Pipeline L.P. / PAA Finance Corp. 4.327%, 03/19/50 ...... 2,402,000 2,981,401 3.800%, 09/15/30 ...... 840,000 898,849 Hess Corp. 4.500%, 12/15/26 (b) ...... 2,500,000 2,808,675 5.600%, 02/15/41 (b) ...... 1,200,000 1,497,930 Rockies Express Pipeline LLC Occidental Petroleum Corp. 4.950%, 07/15/29 (144A) (b) ...... 3,000,000 3,093,900 4.500%, 07/15/44 ...... 620,000 596,750 Ruby Pipeline LLC Petroleos Mexicanos 8.000%, 04/01/22 (144A) (b) ...... 2,262,727 2,060,429 5.950%, 01/28/31 ...... 210,000 204,015 Texas Eastern Transmission L.P. 6.625%, 06/15/35 ...... 1,045,000 1,009,209 2.800%, 10/15/22 (144A) ...... 3,275,000 3,342,733 6.750%, 09/21/47 ...... 3,228,000 2,856,780 6.950%, 01/28/60 ...... 355,000 314,140 24,604,142 7.690%, 01/23/50 ...... 2,440,000 2,348,500 Real Estate Investment Trusts—1.1% 15,146,400 American Campus Communities Operating Partnership L.P. 3.750%, 04/15/23 (b) ...... 1,500,000 1,571,691 Packaging & Containers—0.4% 4.125%, 07/01/24 (b) ...... 2,750,000 2,993,460 Amcor Finance USA, Inc. CyrusOne LP / CyrusOne Finance Corp /CyrusOne L.P. 3.625%, 04/28/26 ...... 2,625,000 2,877,164 2.150%, 11/01/30 (b) ...... 1,755,000 1,664,995 Berry Global, Inc. GLP Capital L.P. / GLP Financing II, Inc. 1.570%, 01/15/26 (144A) ...... 4,810,000 4,811,443 3.350%, 09/01/24 ...... 385,000 407,837 7,688,607 4.000%, 01/15/30 ...... 365,000 391,758 5.250%, 06/01/25 ...... 1,000,000 1,125,650 Pharmaceuticals—1.5% 5.300%, 01/15/29 ...... 265,000 308,725 AbbVie, Inc. 5.375%, 04/15/26 ...... 3,160,000 3,637,192 4.050%, 11/21/39 ...... 685,000 795,577 5.750%, 06/01/28 ...... 2,000,000 2,379,717 4.250%, 11/21/49 ...... 210,000 251,688 Healthcare Trust of America Holdings L.P. 3.500%, 08/01/26 ...... 1,885,000 2,070,550

See accompanying notes to financial statements. BHFTI-378 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Real Estate Investment Trusts—(Continued) Telecommunications—(Continued) SL Green Operating Partnership L.P. Vodafone Group plc 3.250%, 10/15/22 ...... 2,038,000 $ 2,097,672 4.875%, 06/19/49 (b) ...... 2,620,000 $ 3,304,487 Ventas Realty L.P. 5.250%, 05/30/48 ...... 1,070,000 1,409,902 3.125%, 06/15/23 ...... 590,000 614,209 52,608,473 3.250%, 10/15/26 (b) ...... 2,500,000 2,709,776 Total Corporate Bonds & Notes 21,973,232 (Cost $430,887,274) ...... 458,875,791 Retail—0.1% Alimentation Couche-Tard, Inc. Asset-Backed Securities—8.5% 3.550%, 07/26/27 (144A) (b) ...... 2,750,000 3,022,339 Asset-Backed - Home Equity—1.1% Savings & Loans—0.2% Asset-Backed Funding Certificates Trust Nationwide Building Society 0.372%, 1M LIBOR + 0.280%, 09/25/36 (c) ...... 2,264,913 2,248,029 3.622%, 3M LIBOR + 1.181%, 04/26/23 (144A) (c) ...... 1,425,000 1,461,240 0.722%, 1M LIBOR + 0.630%, 03/25/35 (c) ...... 299,377 299,255 3.766%, 3M LIBOR + 1.064%, 03/08/24 (144A) (c) ...... 2,820,000 2,961,393 JPMorgan Mortgage Acquisition Corp. 4,422,633 0.797%, 1M LIBOR + 0.705%, 06/25/35 (c) ...... 1,585,869 1,585,929 New Century Home Equity Loan Trust Semiconductors—0.1% 0.872%, 1M LIBOR + 0.780%, 08/25/34 (c) ...... 6,453,871 6,391,437 Intel Corp. Option One Mortgage Loan Trust 4.100%, 05/19/46 (b) ...... 645,000 776,609 0.752%, 1M LIBOR + 0.660%, 05/25/35 (c) ...... 1,258,331 1,257,157 4.750%, 03/25/50 (b) ...... 1,315,000 1,746,873 Soundview Home Loan Trust 0.302%, 1M LIBOR + 0.210%, 06/25/37 (c) ...... 12,577,343 10,240,811 2,523,482 22,022,618 Software—0.3% Oracle Corp. Asset-Backed - Other—3.7% 3.600%, 04/01/50 ...... 2,750,000 2,823,844 AGL CLO, Ltd. 3.950%, 03/25/51 ...... 2,710,000 2,957,935 1.290%, 3M LIBOR + 1.160%, 07/20/34 (144A) (c) ...... 5,400,000 5,402,419 Ameriquest Mortgage Securities, Inc. 5,781,779 0.677%, 1M LIBOR + 0.585%, 03/25/36 (c) ...... 1,984,110 1,974,721 0.842%, 1M LIBOR + 0.750%, 01/25/36 (c) ...... 5,965,000 5,859,908 Telecommunications—2.5% AMMC CLO, Ltd. AT&T, Inc. 1.226%, 3M LIBOR + 1.050%, 07/24/29 (144A) (c) ...... 4,750,000 4,754,717 2.550%, 12/01/33 (144A) ...... 6,050,000 5,993,383 1.324%, 3M LIBOR + 1.140%, 10/16/28 (144A) (c) ...... 2,361,875 2,361,929 3.800%, 12/01/57 (144A) (b) ...... 5,084,000 5,296,930 BSPRT Issuer, Ltd. 4.300%, 12/15/42 ...... 2,701,000 3,075,367 1.123%, 1M LIBOR + 1.050%, 09/15/35 (144A) (c) ...... 2,325,931 2,325,931 4.750%, 05/15/46 (b) ...... 1,590,000 1,931,096 1.223%, 1M LIBOR + 1.150%, 05/15/29 (144A) (c) ...... 4,115,000 4,112,490 4.850%, 03/01/39 ...... 1,368,000 1,661,672 1.423%, 1M LIBOR + 1.350%, 03/15/28 (144A) (c) ...... 4,738,000 4,736,536 5.250%, 03/01/37 ...... 2,485,000 3,130,553 CWABS Asset-Backed Certificates Trust Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 1.142%, 1M LIBOR + 1.050%, 11/25/35 (c) ...... 2,674,917 2,675,971 3.360%, 09/20/21 (144A) ...... 145,313 146,115 Dryden XXVI Senior Loan Fund 4.738%, 03/20/25 (144A) ...... 7,950,000 8,529,237 1.084%, 3M LIBOR + 0.900%, 04/15/29 (144A) (c) ...... 2,275,000 2,274,813 5.152%, 03/20/28 (144A) ...... 1,650,000 1,897,005 FS Rialto T-Mobile USA, Inc. 1.275%, 1M LIBOR + 1.200%, 12/16/36 (144A) (c) ...... 4,520,000 4,505,247 2.550%, 02/15/31 (b) ...... 2,850,000 2,881,920 GSAMP Trust 3.750%, 04/15/27 ...... 2,145,000 2,370,225 0.772%, 1M LIBOR + 0.680%, 10/25/34 (c) ...... 3,108,391 3,061,207 3.875%, 04/15/30 ...... 3,983,000 4,452,277 LCM XIII LP 4.375%, 04/15/40 ...... 2,335,000 2,737,321 1.330%, 3M LIBOR + 1.140%, 07/19/27 (144A) (c) ...... 4,700,000 4,701,401 Verizon Communications, Inc. Madison Park Funding, Ltd. 2.100%, 03/22/28 (b) ...... 910,000 929,033 1.104%, 3M LIBOR + 0.920%, 01/22/28 (144A) (c) ...... 1,865,893 1,865,769 2.550%, 03/21/31 ...... 2,800,000 2,861,950 Neuberger Berman CLO XX, Ltd. Zero Coupon, 3M LIBOR + 1.650%, 07/15/34 (144A) (c) .... 5,000,000 5,003,040 Popular ABS Mortgage Pass-Through Trust 0.482%, 1M LIBOR + 0.390%, 02/25/36 (c) ...... 6,308,538 6,265,429 Rockford Tower CLO, Ltd. 1.378%, 3M LIBOR + 1.190%, 10/20/30 (144A) (c) ...... 5,200,000 5,201,851

See accompanying notes to financial statements. BHFTI-379 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Asset-Backed Securities—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Asset-Backed - Other—(Continued) Collateralized Mortgage Obligations—(Continued) Structured Asset Investment Loan Trust Nomura Resecuritization Trust 0.892%, 1M LIBOR + 0.800%, 07/25/34 (c) ...... 2,178,218 $ 2,154,199 0.352%, -1 x 1M LIBOR + 0.426%, 02/25/37 (144A) (c) .... 680,994 $ 664,699 Towd Point Mortgage Trust 0.612%, 11/26/35 (144A) (c) ...... 1,574,826 1,575,835 2.750%, 10/25/56 (144A) (c) ...... 3,841,660 3,900,450 PHH Alternative Mortgage Trust Wellman Park CLO, Ltd. 0.692%, 1M LIBOR + 0.600%, 07/25/37 (c) ...... 7,021,144 6,959,713 1.218%, 3M LIBOR + 1.100%, 07/15/34 (144A) (c) ...... 4,750,000 4,749,990 WaMu Mortgage Pass-Through Certificates Trust 77,888,018 0.672%, 1M LIBOR + 0.580%, 10/25/45 (c) ...... 2,770,660 2,768,576 2.605%, 06/25/34 (c) ...... 4,001,066 4,054,264 Asset-Backed - Student Loan—3.7% 63,339,722 Navient Student Loan Trust 1.142%, 1M LIBOR + 1.050%, 07/26/66 (144A) (c) ...... 5,600,000 5,701,633 Commercial Mortgage-Backed Securities—1.6% 1.592%, 1M LIBOR + 1.500%, 10/25/58 (c) ...... 2,470,000 2,487,139 BAMLL Commercial Mortgage Securities Trust SLC Student Loan Trust 4.227%, 08/10/38 (144A) (c) ...... 3,265,000 3,738,337 0.279%, 3M LIBOR + 0.160%, 09/15/39 (c) ...... 10,735,264 10,520,648 BX Commercial Mortgage Trust 0.279%, 3M LIBOR + 0.160%, 03/15/55 (c) ...... 8,310,000 8,125,328 3.202%, 12/09/41 (144A) ...... 895,000 964,150 SLM Student Loan Trust CALI Mortgage Trust 0.236%, 3M LIBOR + 0.060%, 01/25/22 (c) ...... 7,506,027 7,309,670 3.957%, 03/10/39 (144A) ...... 2,200,000 2,504,263 0.506%, 3M LIBOR + 0.330%, 01/25/22 (c) ...... 2,927,543 2,870,870 Century Plaza Towers 0.546%, 3M LIBOR + 0.370%, 01/25/40 (c) ...... 3,407,545 3,177,938 2.865%, 11/13/39 (144A) ...... 1,730,000 1,842,772 0.726%, 3M LIBOR + 0.550%, 10/25/64 (144A) (c) ...... 4,886,844 4,911,465 DC Office Trust 0.842%, 1M LIBOR + 0.750%, 05/26/26 (c) ...... 5,466,223 5,410,711 2.965%, 09/15/45 (144A) ...... 1,850,000 1,975,409 0.842%, 1M LIBOR + 0.750%, 01/25/45 (144A) (c) ...... 2,740,310 2,779,603 GB Trust 1.276%, 3M LIBOR + 1.100%, 07/25/23 (c) ...... 5,598,139 5,612,136 1.193%, 1M LIBOR + 1.120%, 08/15/37 (144A) (c) ...... 5,490,000 5,495,168 1.319%, 3M LIBOR + 1.200%, 12/15/33 (144A) (c) ...... 4,135,872 4,138,391 Hudson Yards Mortgage Trust 1.676%, 3M LIBOR + 1.500%, 04/25/23 (c) ...... 2,422,405 2,442,857 3.041%, 12/10/41 (144A) (c) ...... 1,850,000 1,991,594 1.892%, 1M LIBOR + 1.800%, 09/25/43 (c) ...... 5,800,000 5,799,998 3.228%, 07/10/39 (144A) ...... 1,875,000 2,041,051 Wachovia Student Loan Trust JPMorgan Chase Commercial Mortgage Securities Trust 0.346%, 3M LIBOR + 0.170%, 04/25/40 (144A) (c) ...... 5,645,378 5,542,995 3.397%, 06/05/39 (144A) ...... 2,000,000 2,203,556 76,831,382 MKT Mortgage Trust 2.694%, 02/12/40 (144A) ...... 2,750,000 2,880,149 Total Asset-Backed Securities Natixis Commercial Mortgage Securities Trust (Cost $172,916,407) ...... 176,742,018 2.966%, 12/15/38 (144A) ...... 1,840,000 1,924,134 One Bryant Park Trust Mortgage-Backed Securities—4.7% 2.516%, 09/15/54 (144A) ...... 2,390,000 2,474,752 RBS Commercial Funding, Inc. Trust Collateralized Mortgage Obligations—3.1% 3.961%, 01/15/32 (144A) (c) ...... 1,205,000 1,277,230 Banc of America Funding Trust SFAVE Commercial Mortgage Securities Trust 2.500%, 03/25/40 (144A) (c) ...... 1,396,751 1,395,616 3.872%, 01/05/43 (144A) (c) ...... 1,519,000 1,680,603 CIM Trust 4.144%, 01/05/43 (144A) (c) ...... 110,000 120,313 1.951%, 06/25/57 (144A) (c) ...... 8,586,566 8,672,149 33,113,481 2.000%, 05/01/61 (144A) (c) ...... 9,300,000 9,346,500 Total Mortgage-Backed Securities 3.000%, 10/25/59 (144A) (c) ...... 6,757,359 6,596,300 (Cost $94,045,505) ...... 96,453,203 3.750%, 07/25/58 (144A) (c) ...... 4,879,348 4,878,642 Credit Suisse Mortgage Trust 0.372%, 04/27/47 (144A) (c) ...... 986 984 Municipals—0.5% 1.048%, 09/27/46 (144A) (c) ...... 861,815 865,589 Miami-Dade County, FL Aviation Revenue 3.850%, 09/25/57 (144A) (c) ...... 6,290,901 6,572,387 3.555%, 10/01/34 ...... 600,000 658,516 GS Mortgage-Backed Securities Trust New York City Transitional Finance Authority, Future Tax Secured Revenue 3.750%, 10/25/57 (144A) ...... 5,839,704 6,162,717 4.200%, 11/01/30 ...... 1,250,000 1,479,539 Morgan Stanley Resecuritization Trust 5.267%, 05/01/27 ...... 2,150,000 2,604,120 0.992%, 1M LIBOR + 0.450%, 08/26/47 (144A) (c) ...... 732,790 734,034 New York City, General Obligation Unlimited, Build America Bond 2.929%, 08/26/47 (144A) (c) ...... 2,084,826 2,091,717 5.968%, 03/01/36 ...... 1,750,000 2,434,855

See accompanying notes to financial statements. BHFTI-380 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Municipals—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value Regents of the University of California Medical Center Pooled Revenue Certificates of Deposit—(Continued) 3.256%, 05/15/60 ...... 3,485,000 $ 3,702,208 Sumitomo Mitsui Trust Bank, Ltd. Zero Coupon, 09/14/21 ...... 3,997,886 $ 3,998,800 Total Municipals Toronto-Dominion Bank (Cost $10,031,597) ...... 10,879,238 0.267%, 3M LIBOR + 0.070%, 10/08/21 (c) ...... 2,000,000 1,999,823 66,494,414 Short-Term Investments—9.9% Commercial Paper—0.1% Mutual Funds—0.4% Bedford Row Funding Corp. State Street Institutional Liquid Reserves Fund, Trust Class, 0.266%, 3M LIBOR + 0.080%, 10/21/21 (c) ...... 3,000,000 3,001,218 0.050% (d) ...... 8,263,808 8,265,461 Repurchase Agreements—5.3% U.S. Treasury—9.5% Barclays Bank plc U.S. Treasury Bills Repurchase Agreement dated 06/30/21 at 0.200%, due on 0.013%, 08/19/21 (e) ...... 8,745,000 8,744,464 07/01/21 with a maturity value of $3,400,019; collateralized 0.013%, 08/26/21 (e) ...... 6,085,000 6,084,579 by various Common Stock with an aggregate market value of 0.019%, 08/12/21 (b) (e) ...... 81,945,000 81,939,503 $3,778,067...... 3,400,000 3,400,000 0.025%, 10/05/21 (e) ...... 23,370,000 23,367,195 BofA Securities, Inc. 0.032%, 07/20/21 (b) (e) ...... 75,535,000 75,533,007 Repurchase Agreement dated 06/30/21 at 0.050%, due on 195,668,748 07/01/21 with a maturity value of $13,011,308; collateralized by U.S. Treasury Bond at 2.875%, maturing 05/15/49, and an Total Short-Term Investments aggregate market value of $13,271,517...... 13,011,290 13,011,290 (Cost $203,940,566) ...... 203,934,209 Repurchase Agreement dated 06/30/21 at 0.360%, due on 08/04/21 with a maturity value of $3,001,050; collateralized Securities Lending Reinvestments (f)—14.5% by various Common Stock with an aggregate market value of $3,300,001...... 3,000,000 3,000,000 Certificates of Deposit—3.2% Citigroup Global Markets, Inc. Agricultural Bank of China Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.100%, 07/01/21 ...... 2,500,000 2,499,998 08/04/21 with a maturity value of $13,005,435; collateralized Bank of Montreal (Chicago) by U.S. Treasury Obligations at 0.125%, maturing 05/31/23, 0.176%, 1M BSBY + 0.120%, 12/01/21 (c) ...... 13,000,000 13,000,161 and various Common Stock with an aggregate market value of Barclays Bank plc $14,298,084...... 13,000,000 13,000,000 0.100%, 09/09/21 ...... 6,000,000 5,999,526 Deutsche Bank AG, London Industrial & Commercial Bank of China Ltd. Repurchase Agreement dated 06/30/21 at 0.170%, due on 0.110%, 07/22/21 ...... 5,000,000 4,999,785 07/01/21 with a maturity value of $1,000,005; collateralized Mitsubishi UFJ Trust and Banking Corp. (London) by U.S. Treasury and Foreign Obligations with rates ranging Zero Coupon, 08/11/21 ...... 1,999,131 1,999,680 from 0.000% - 3.375%, maturity dates ranging from Zero Coupon, 09/07/21 ...... 4,998,339 4,998,650 02/01/22 - 03/11/31, and an aggregate market value of MUFG Bank Ltd. $1,020,001...... 1,000,000 1,000,000 Zero Coupon, 09/02/21 ...... 998,979 999,750 Repurchase Agreement dated 06/30/21 at 0.230%, due on 0.170%, 07/22/21 ...... 1,000,000 1,000,030 07/01/21 with a maturity value of $10,000,064; collateralized Natixis S.A. (New York) by various Common Stock with an aggregate market value of 0.208%, 3M LIBOR + 0.040%, 02/11/22 (c) ...... 3,000,000 2,999,952 $11,112,278...... 10,000,000 10,000,000 Oversea-Chinese Banking Corp., Ltd. HSBC Bank plc 0.167%, 3M LIBOR + 0.020%, 03/25/22 (c) ...... 5,000,000 5,000,020 Repurchase Agreement dated 06/30/21 at 0.100%, due on Royal Bank of Canada New York 07/01/21 with a maturity value of $6,100,017; collateralized 0.240%, 3M LIBOR + 0.040%, 10/05/21 (c) ...... 1,000,000 1,000,177 by U.S. Treasury Obligations with rates ranging from 0.099% - Sumitomo Mitsui Banking Corp. 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value of $6,224,507...... 6,100,000 6,100,000 0.156%, 1M LIBOR + 0.060%, 12/17/21 (c) ...... 5,000,000 4,999,990 0.158%, 3M LIBOR + 0.030%, 09/10/21 (c) ...... 3,000,000 3,000,072 Morgan Stanley Sumitomo Mitsui Trust Bank (London) Repurchase Agreement dated 06/30/21 at 0.500%, due on Zero Coupon, 09/01/21 ...... 7,996,073 7,998,000 10/04/21 with a maturity value of $8,010,667; collateralized by various Common Stock with an aggregate market value of $8,800,133...... 8,000,000 8,000,000

See accompanying notes to financial statements. BHFTI-381 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (f)—(Continued)

Shares/ Principal Security Description Amount* Value Security Description Shares Value

Repurchase Agreements—(Continued) Mutual Funds—(Continued) National Bank of Canada SSgA Institutional U.S. Government Money Market Fund, Premier Repurchase Agreement dated 06/30/21 at 0.210%, due on Class 07/07/21 with a maturity value of $5,000,204; collateralized 0.030% (d) ...... 1,000,000 $ 1,000,000 by various Common Stock with an aggregate market value of STIT-Government & Agency Portfolio, Institutional Class $5,555,588...... 5,000,000 $ 5,000,000 0.030% (d) ...... 10,000,000 10,000,000 Natwest Market Securities, Inc. U.S. Government Money Market Fund, Institutional Share Repurchase Agreement dated 06/30/21 at 0.050%, due on 0.010% (d) ...... 1,000,000 1,000,000 07/01/21 with a maturity value of $30,000,042; collateralized 87,000,000 by U.S. Treasury Obligations with rates ranging from 1.250% - 8.125%, maturity dates ranging from 08/15/21 - 05/15/51, Total Securities Lending Reinvestments and an aggregate market value of $30,600,043...... 30,000,000 30,000,000 (Cost $300,805,569) ...... 300,806,922 NBC Global Finance, Ltd. Total Investments—133.2% Repurchase Agreement dated 06/30/21 at 0.245%, due on (Cost $2,706,491,264) ...... 2,758,493,314 07/07/21 with a maturity value of $2,500,119; collateralized Other assets and liabilities (net)—(33.2)% ...... (687,344,250) by U.S. Treasury Obligations with rates ranging from 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, Net Assets—100.0% ...... $2,071,149,064 and various Common Stock with an aggregate market value of $2,777,779...... 2,500,000 2,500,000 * Principal amount stated in U.S. dollars unless otherwise noted. Royal Bank of Canada (a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with Repurchase Agreement dated 06/30/21 at 0.360%, due on an approximate principal amount and no defined maturity date. The actual principal 08/04/21 with a maturity value of $5,001,750; collateralized and maturity date will be determined upon settlement date. by various Common Stock with an aggregate market value of (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value $5,555,611...... 5,000,000 5,000,000 of securities loaned was $304,496,372 and the collateral received consisted of cash in Societe Generale the amount of $300,801,698 and non-cash collateral with a value of $9,475,978. The Repurchase Agreement dated 06/30/21 at 0.185%, due on cash collateral investments are disclosed in the Schedule of Investments and categorized 07/01/21 with a maturity value of $10,000,051; collateralized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. by various Common Stock with an aggregate market value of government and agency securities that are held in safe-keeping by the lending agent, $11,111,465...... 10,000,000 10,000,000 or a third-party custodian, and cannot be sold or repledged by the Portfolio. As such, 110,011,290 this collateral is excluded from the Statement of Assets and Liabilities. (c) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Time Deposits—1.7% Maturity date shown for callable securities reflects the earliest possible call date. For ABN AMRO Bank NV securities based on a published reference index and spread, the index and spread are 0.080%, 07/01/21 ...... 13,000,000 13,000,000 indicated in the description above. For certain variable rate securities, the coupon rate is DZ Bank AG determined by the issuer/agent based on current market conditions. For certain asset- 0.040%, 07/01/21 ...... 10,000,000 10,000,000 and mortgage-backed securities, the coupon rate may fluctuate based on changes of the Landesbank Baden-Wuettertemberg (London) underlying collateral or prepayments of principal. These securities do not indicate a 0.130%, 07/01/21 ...... 1,300,000 1,300,000 reference index and spread in their description above. National Bank of Canada (d) The rate shown represents the annualized seven-day yield as of June 30, 2021. 0.130%, OBFR + 0.050%, 07/07/21 (c) ...... 5,000,000 5,000,000 (e) The rate shown represents current yield to maturity. Royal Bank of Canada (f) Represents investment of cash collateral received from securities on loan as of June 30, 0.030%, 07/01/21 ...... 5,000,000 5,000,000 2021. 34,300,000 (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 Mutual Funds—4.2% qualified institutional buyers. As of June 30, 2021, the market value of 144A securities BlackRock Liquidity Funds FedFund, Institutional Shares was $274,493,464, which is 13.3% of net assets. 0.030% (d) ...... 50,000,000 50,000,000 Goldman Sachs Financial Square Government Fund, Institutional Shares 0.020% (d) ...... 25,000,000 25,000,000

See accompanying notes to financial statements. BHFTI-382 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) U.S. Treasury Note Ultra 10 Year Futures ...... 09/21/21 1 USD 147,203 $ 2,576

Futures Contracts—Short U.S. Treasury Note 2 Year Futures ...... 09/30/21 (92) USD (20,269,469) 36,475 Net Unrealized Appreciation ...... $39,051

Glossary of Abbreviations

Currencies (USD)— United States Dollar

Index Abbreviations (BSBY)— Bloomberg Short-Term Bank Yield Index (LIBOR)— London Interbank Offered Rate (SOFR)— Secured Overnight Financing Rate (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (OBFR)— U.S. Overnight Bank Funding Rate Maturity Index

Other Abbreviations (CLO)— Collateralized Loan Obligation (CMO)— Collateralized Mortgage Obligation (REMIC)— Real Estate Mortgage Investment Conduit

See accompanying notes to financial statements. BHFTI-383 Brighthouse Funds Trust I TCW Core Fixed Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $ — $1,510,801,933 $— $1,510,801,933 Total Corporate Bonds & Notes* ...... — 458,875,791 — 458,875,791 Total Asset-Backed Securities* ...... — 176,742,018 — 176,742,018 Total Mortgage-Backed Securities* ...... — 96,453,203 — 96,453,203 Total Municipals* ...... — 10,879,238 — 10,879,238 Short-Term Investments Mutual Funds ...... 8,265,461 — — 8,265,461 U.S. Treasury ...... — 195,668,748 — 195,668,748 Total Short-Term Investments ...... 8,265,461 195,668,748 — 203,934,209 Securities Lending Reinvestments Certificates of Deposit ...... — 66,494,414 — 66,494,414 Commercial Paper ...... — 3,001,218 — 3,001,218 Repurchase Agreements ...... — 110,011,290 — 110,011,290 Time Deposits ...... — 34,300,000 — 34,300,000 Mutual Funds ...... 87,000,000 — — 87,000,000 Total Securities Lending Reinvestments ...... 87,000,000 213,806,922 — 300,806,922 Total Investments ...... $95,265,461 $2,663,227,853 $— $2,758,493,314 Collateral for Securities Loaned (Liability) ...... $ — $(300,801,698) $— $ (300,801,698) Futures Contracts Futures Contracts (Unrealized Appreciation) ...... $ 39,051 $ — $— $ 39,051

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-384 Brighthouse Funds Trust I Victory Sycamore Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—98.8% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—2.4% Electronic Equipment, Instruments & Components—2.4% Textron, Inc...... 385,700 $ 26,524,589 Amphenol Corp. - Class A (b) ...... 172,000 $ 11,766,520 Flex, Ltd. (a) ...... 815,200 14,567,624 Airlines—1.6% 26,334,144 Alaska Air Group, Inc. (a) ...... 290,000 17,489,900 Equity Real Estate Investment Trusts—9.6% Auto Components—3.4% Alexandria Real Estate Equities, Inc. (b) ...... 60,000 10,916,400 Aptiv plc (a) ...... 80,700 12,696,531 American Homes 4 Rent - Class A ...... 405,000 15,734,250 BorgWarner, Inc. (b) ...... 494,300 23,993,322 Americold Realty Trust (b) ...... 305,000 11,544,250 36,689,853 Camden Property Trust (b) ...... 101,000 13,399,670 Equity LifeStyle Properties, Inc. (b) ...... 182,000 13,524,420 Banks—4.0% Highwoods Properties, Inc. (b) ...... 253,500 11,450,595 Huntington Bancshares, Inc. (b) ...... 841,684 12,010,831 Lamar Advertising Co. - Class A ...... 159,800 16,686,316 Prosperity Bancshares, Inc...... 195,600 14,044,080 National Retail Properties, Inc...... 252,000 11,813,760 Zions Bancorp N.A. (b) ...... 340,000 17,972,400 105,069,661 44,027,311 Food & Staples Retailing—1.7% Building Products—1.2% Sysco Corp. (b) ...... 231,400 17,991,350 Owens Corning ...... 132,800 13,001,120 Food Products—5.6% Capital Markets—1.3% Archer-Daniels-Midland Co...... 353,400 21,416,040 Bank of New York Mellon Corp. (The) ...... 272,000 13,934,560 Hershey Co. (The) ...... 116,000 20,204,880 Tyson Foods, Inc. - Class A ...... 257,000 18,956,320 Chemicals—5.2% 60,577,240 Corteva, Inc...... 256,000 11,353,600 Eastman Chemical Co...... 118,200 13,799,850 Health Care Equipment & Supplies—3.0% International Flavors & Fragrances, Inc...... 120,000 17,928,000 Cooper Cos., Inc. (The) ...... 39,100 15,494,157 Westlake Chemical Corp...... 152,000 13,693,680 Hill-Rom Holdings, Inc. (b) ...... 152,500 17,322,475 56,775,130 32,816,632

Commercial Services & Supplies—0.9% Health Care Providers & Services—2.5% Republic Services, Inc...... 90,000 9,900,900 Molina Healthcare, Inc. (a) ...... 34,000 8,604,040 Quest Diagnostics, Inc. (b) ...... 141,000 18,607,770 Communications Equipment—1.2% Motorola Solutions, Inc...... 59,000 12,794,150 27,211,810

Containers & Packaging—4.1% Hotels, Restaurants & Leisure—3.0% AptarGroup, Inc. (b) ...... 71,500 10,070,060 Las Vegas Sands Corp. (a) ...... 292,000 15,385,480 Avery Dennison Corp...... 87,000 18,290,880 Yum! Brands, Inc...... 154,700 17,795,141 Packaging Corp. of America ...... 117,700 15,938,934 33,180,621 44,299,874 Insurance—9.3% Electric Utilities—2.4% Alleghany Corp. (a) ...... 34,700 23,147,329 Alliant Energy Corp...... 254,000 14,163,040 American Financial Group, Inc...... 173,700 21,663,864 Xcel Energy, Inc. (b) ...... 178,000 11,726,640 Arthur J. Gallagher & Co...... 82,900 11,612,632 Everest Re Group, Ltd...... 68,600 17,287,886 25,889,680 Old Republic International Corp...... 361,000 8,992,510 W.R. Berkley Corp...... 247,800 18,443,754 Electrical Equipment—2.8% Hubbell, Inc. (b) ...... 86,900 16,236,396 101,147,975 Vertiv Holdings Co. (b) ...... 505,000 13,786,500 IT Services—4.3% 30,022,896 DXC Technology Co. (a) ...... 397,900 15,494,226 Genpact, Ltd...... 375,000 17,036,250 MAXIMUS, Inc. (b) ...... 167,600 14,743,772 47,274,248

See accompanying notes to financial statements. BHFTI-385 Brighthouse Funds Trust I Victory Sycamore Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued) Short-Term Investment—1.1%

Principal Security Description Shares Value Security Description Amount* Value

Machinery—8.1% Repurchase Agreement—1.1% AGCO Corp...... 117,000 $ 15,254,460 Fixed Income Clearing Corp. Lincoln Electric Holdings, Inc. (b) ...... 74,000 9,746,540 Repurchase Agreement dated 06/30/21 at 0.000%, due on Middleby Corp. (The) (a) ...... 86,500 14,986,990 07/01/21 with a maturity value of $12,204,492; Oshkosh Corp. (b) ...... 112,200 13,984,608 collateralized by U.S. Treasury Note at 0.375%, maturing Parker-Hannifin Corp...... 48,400 14,864,124 04/15/24, with a market value of $12,448,658...... 12,204,492 $ 12,204,492 Toro Co. (The) (b) ...... 121,000 13,295,480 Total Short-Term Investments Xylem, Inc...... 47,800 5,734,088 (Cost $12,204,492) ...... 12,204,492 87,866,290 Securities Lending Reinvestments (c)—11.4% Media—1.3% Interpublic Group of Cos., Inc. (The) ...... 420,000 13,645,800 Certificates of Deposit—0.9% Agricultural Bank of China Metals & Mining—2.3% 0.100%, 07/01/21 ...... 300,000 300,000 Reliance Steel & Aluminum Co...... 83,700 12,630,330 Bank of Montreal (Chicago) Steel Dynamics, Inc. (b) ...... 212,200 12,647,120 0.176%, 1M BSBY + 0.120%, 12/01/21 (d) ...... 1,000,000 1,000,012 25,277,450 Cooperatieve Rabobank UA 0.228%, 3M LIBOR + 0.040%, 01/11/22 (d) ...... 3,000,000 3,000,870 Oil, Gas & Consumable Fuels—4.6% Oversea-Chinese Banking Corp., Ltd. Cimarex Energy Co...... 206,800 14,982,660 0.167%, 3M LIBOR + 0.020%, 03/25/22 (d) ...... 1,000,000 1,000,004 Devon Energy Corp...... 623,000 18,185,370 Sumitomo Mitsui Banking Corp. Valero Energy Corp. (b) ...... 221,500 17,294,720 0.158%, 3M LIBOR + 0.030%, 09/10/21 (d) ...... 2,000,000 2,000,048 Toronto-Dominion Bank 50,462,750 0.267%, 3M LIBOR + 0.070%, 10/08/21 (d) ...... 2,000,000 1,999,823 Professional Services—2.4% 9,300,757 Leidos Holdings, Inc...... 128,000 12,940,800 ManpowerGroup, Inc...... 113,300 13,472,503 Repurchase Agreements—7.6% Barclays Bank plc 26,413,303 Repurchase Agreement dated 06/30/21 at 0.200%, due on 07/01/21 with a maturity value of $10,000,056; Road & Rail—2.7% collateralized by various Common Stock with an aggregate J.B. Hunt Transport Services, Inc. (b) ...... 90,200 14,698,090 market value of $11,111,963...... 10,000,000 10,000,000 Landstar System, Inc...... 94,000 14,853,880 Repurchase Agreement dated 06/30/21 at 0.360%, due on 29,551,970 08/04/21 with a maturity value of $1,500,525; collateralized by various Common Stock with an aggregate Specialty Retail—2.3% market value of $1,667,002...... 1,500,000 1,500,000 AutoNation, Inc. (a) ...... 80,800 7,660,648 Barclays Capital, Inc. Ross Stores, Inc...... 137,200 17,012,800 Repurchase Agreement dated 06/30/21 at 0.030%, due on 24,673,448 07/01/21 with a maturity value of $3,578,095; collateralized by U.S. Treasury Obligations at 0.000%, Technology Hardware, Storage & Peripherals—0.9% maturity dates ranging from 05/15/29 - 11/15/43, and an Hewlett Packard Enterprise Co...... 672,000 9,797,760 aggregate market value of $3,649,654...... 3,578,092 3,578,092 Cantor Fitzgerald & Co. Repurchase Agreement dated 06/30/21 at 0.050%, due on Textiles, Apparel & Luxury Goods—1.3% 07/01/21 with a maturity value of $5,000,007; VF Corp...... 179,000 14,685,160 collateralized by U.S. Government Agency Obligations with rates ranging from 0.920% - 7.500%, maturity dates ranging Trading Companies & Distributors—1.0% from 11/01/23 - 06/20/71, and an aggregate market value United Rentals, Inc. (a) ...... 34,200 10,910,142 of $5,100,000...... 5,000,000 5,000,000 Total Common Stocks Citigroup Global Markets, Inc. (Cost $839,785,146) ...... 1,076,237,717 Repurchase Agreement dated 06/30/21 at 0.060%, due on 07/01/21 with a maturity value of $5,000,008; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 6.125%, maturity dates ranging from 08/15/29 - 02/15/31, and an aggregate market value of $5,100,002...... 5,000,000 5,000,000

See accompanying notes to financial statements. BHFTI-386 Brighthouse Funds Trust I Victory Sycamore Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—(Continued) Time Deposits—0.8% Citigroup Global Markets, Inc. ABN AMRO Bank NV Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.080%, 07/01/21 ...... 3,000,000 $ 3,000,000 08/04/21 with a maturity value of $3,001,254; Landesbank Baden-Wuettertemberg (London) collateralized by U.S. Treasury Obligations at 2.000%, 0.130%, 07/01/21 ...... 4,700,000 4,700,000 maturing 11/30/22, and various Common Stock with an National Bank of Canada aggregate market value of $3,294,682...... 3,000,000 $ 3,000,000 0.130%, OBFR + 0.050%, 07/07/21 (d) ...... 1,000,000 1,000,000 Repurchase Agreement dated 06/30/21 at 0.430%, due on 8,700,000 08/04/21 with a maturity value of $2,000,836; collateralized by U.S. Treasury Obligations at 0.125%, Mutual Funds—2.1% maturing 05/31/23, and various Common Stock with an BlackRock Liquidity Funds FedFund, Institutional Shares aggregate market value of $2,199,056...... 2,000,000 2,000,000 0.030% (e) ...... 8,000,000 8,000,000 Deutsche Bank AG, London Goldman Sachs Financial Square Government Fund, Repurchase Agreement dated 06/30/21 at 0.170%, due on Institutional Shares 07/01/21 with a maturity value of $1,500,007; 0.020% (e) ...... 5,000,000 5,000,000 collateralized by U.S. Treasury and Foreign Obligations with STIT-Government & Agency Portfolio, Institutional Class rates ranging from 0.000% - 3.375%, maturity dates ranging 0.030% (e) ...... 10,000,000 10,000,000 from 02/01/22 - 03/11/31, and an aggregate market value of $1,530,001...... 1,500,000 1,500,000 23,000,000 Repurchase Agreement dated 06/30/21 at 0.230%, due on Total Securities Lending Reinvestments 07/01/21 with a maturity value of $15,000,096; (Cost $124,378,092) ...... 124,378,849 collateralized by various Common Stock with an aggregate market value of $16,668,418...... 15,000,000 15,000,000 Total Investments—111.3% HSBC Bank plc (Cost $976,367,730) ...... 1,212,821,058 Repurchase Agreement dated 06/30/21 at 0.100%, due on Other assets and liabilities (net)—(11.3)% ...... (123,092,847) 07/01/21 with a maturity value of $9,200,026; Net Assets—100.0% ...... $1,089,728,211 collateralized by U.S. Treasury Obligations with rates ranging from 0.099% - 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value of * Principal amount stated in U.S. dollars unless otherwise noted. $9,387,781...... 9,200,000 9,200,000 (a) Non-income producing security. Morgan Stanley (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value Repurchase Agreement dated 06/30/21 at 0.500%, due on of securities loaned was $122,004,654 and the collateral received consisted of cash in 10/04/21 with a maturity value of $2,002,667; the amount of $124,378,092. The cash collateral investments are disclosed in the collateralized by various Common Stock with an aggregate Schedule of Investments and categorized as Securities Lending Reinvestments. market value of $2,200,033...... 2,000,000 2,000,000 (c) Represents investment of cash collateral received from securities on loan as of June 30, National Bank of Canada 2021. Repurchase Agreement dated 06/30/21 at 0.210%, due on (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. 07/07/21 with a maturity value of $15,000,613; Maturity date shown for callable securities reflects the earliest possible call date. For collateralized by various Common Stock with an aggregate securities based on a published reference index and spread, the index and spread are market value of $16,666,764...... 15,000,000 15,000,000 indicated in the description above. For certain variable rate securities, the coupon rate is NBC Global Finance, Ltd. determined by the issuer/agent based on current market conditions. For certain asset- Repurchase Agreement dated 06/30/21 at 0.245%, due on and mortgage-backed securities, the coupon rate may fluctuate based on changes of the 07/07/21 with a maturity value of $600,029; collateralized underlying collateral or prepayments of principal. These securities do not indicate a by U.S. Treasury Obligations with rates ranging from 1.875% - reference index and spread in their description above. 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. and various Common Stock with an aggregate market value of $666,667...... 600,000 600,000 Glossary of Abbreviations Societe Generale Repurchase Agreement dated 06/30/21 at 0.180%, due on Index Abbreviations 07/01/21 with a maturity value of $10,000,050; collateralized by various Common Stock with an aggregate (BSBY)— Bloomberg Short-Term Bank Yield Index market value of $11,111,343...... 10,000,000 10,000,000 (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate 83,378,092

See accompanying notes to financial statements. BHFTI-387 Brighthouse Funds Trust I Victory Sycamore Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited)

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $1,076,237,717 $ — $— $1,076,237,717 Total Short-Term Investment* ...... — 12,204,492 — 12,204,492 Securities Lending Reinvestments Certificates of Deposit ...... — 9,300,757 — 9,300,757 Repurchase Agreements ...... — 83,378,092 — 83,378,092 Time Deposits ...... — 8,700,000 — 8,700,000 Mutual Funds ...... 23,000,000 — — 23,000,000 Total Securities Lending Reinvestments ...... 23,000,000 101,378,849 — 124,378,849 Total Investments ...... $1,099,237,717 $ 113,583,341 $— $1,212,821,058 Collateral for Securities Loaned (Liability) ...... $ — $(124,378,092) $— $ (124,378,092)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-388 Brighthouse Funds Trust I Wells Capital Management Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—98.0% of Net Assets

Security Description Shares Value Security Description Shares Value

Aerospace & Defense—2.6% Electric Utilities—3.0% General Dynamics Corp...... 34,683 $ 6,529,421 American Electric Power Co., Inc...... 93,079 $ 7,873,552 L3Harris Technologies, Inc...... 30,646 6,624,133 FirstEnergy Corp...... 208,966 7,775,625 13,153,554 15,649,177

Auto Components—3.3% Electronic Equipment, Instruments & Components—0.6% Aptiv plc (a) ...... 53,046 8,345,727 Keysight Technologies, Inc. (a) (b) ...... 21,438 3,310,242 Lear Corp...... 47,698 8,360,506 16,706,233 Energy Equipment & Services—1.1% Baker Hughes Co. (b) ...... 54,974 1,257,255 Banks—4.6% NOV, Inc. (a) ...... 295,280 4,523,690 Fifth Third Bancorp ...... 240,995 9,213,239 5,780,945 PacWest Bancorp ...... 86,166 3,546,592 Regions Financial Corp. (b) ...... 368,294 7,432,173 Equity Real Estate Investment Trusts—3.8% Zions Bancorp N.A...... 65,650 3,470,259 American Campus Communities, Inc...... 142,921 6,677,269 23,662,263 Equity LifeStyle Properties, Inc...... 26,685 1,982,962 Invitation Homes, Inc...... 291,237 10,860,228 Beverages—1.6% 19,520,459 Keurig Dr Pepper, Inc. (b) ...... 235,563 8,301,240 Food & Staples Retailing—1.9% Building Products—1.3% BJ’s Wholesale Club Holdings, Inc. (a) (b) ...... 205,067 9,757,088 Masco Corp...... 111,355 6,559,923 Food Products—1.7% Capital Markets—1.6% Lamb Weston Holdings, Inc...... 109,225 8,810,089 LPL Financial Holdings, Inc...... 60,066 8,107,709 Health Care Equipment & Supplies—4.2% Chemicals—1.7% Alcon, Inc...... 161,011 11,312,633 Celanese Corp...... 41,964 6,361,742 Zimmer Biomet Holdings, Inc...... 62,518 10,054,145 Diversey Holdings, Ltd. (a) (b) ...... 135,724 2,430,817 21,366,778 8,792,559 Health Care Providers & Services—3.2% Commercial Services & Supplies—2.6% Humana, Inc...... 18,366 8,130,996 Republic Services, Inc...... 120,603 13,267,536 Universal Health Services, Inc. - Class B ...... 55,057 8,061,996 16,192,992 Communications Equipment—0.9% Juniper Networks, Inc...... 171,812 4,699,058 Hotels, Restaurants & Leisure—1.8% Yum China Holdings, Inc...... 136,117 9,017,751 Construction & Engineering—3.2% Jacobs Engineering Group, Inc...... 80,805 10,781,003 Household Durables—2.6% MasTec, Inc. (a) ...... 54,960 5,831,256 DR Horton, Inc...... 124,359 11,238,323 16,612,259 Helen of Troy, Ltd. (a) (b) ...... 9,572 2,183,564 13,421,887 Consumer Finance—1.7% Discover Financial Services (b) ...... 73,540 8,699,047 Household Products—3.3% Church & Dwight Co., Inc. (b) ...... 55,600 4,738,232 Containers & Packaging—0.9% Reynolds Consumer Products, Inc. (b) ...... 396,869 12,044,974 AptarGroup, Inc. (b) ...... 34,513 4,860,811 16,783,206 Distributors—2.0% LKQ Corp. (a) (b) ...... 212,967 10,482,236 Industrial Conglomerates—3.3% Carlisle Cos., Inc. (b) ...... 88,891 17,011,960 Diversified Consumer Services—0.4% Terminix Global Holdings, Inc. (a) ...... 40,381 1,926,578 Insurance—8.3% Allstate Corp. (The) ...... 71,541 9,331,808 , Ltd. (a) ...... 352,908 13,742,238

See accompanying notes to financial statements. BHFTI-389 Brighthouse Funds Trust I Wells Capital Management Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Common Stocks—(Continued)

Shares/ Principal Security Description Shares Value Security Description Amount* Value

Insurance—(Continued) Trading Companies & Distributors—3.4% Brown & Brown, Inc. (b) ...... 242,052 $ 12,862,643 AerCap Holdings NV (a) ...... 263,632 $ 13,500,595 Loews Corp...... 121,714 6,651,670 United Rentals, Inc. (a) ...... 11,685 3,727,632 42,588,359 17,228,227

Internet & Direct Marketing Retail—1.7% Water Utilities—2.0% Expedia Group, Inc. (a) ...... 53,334 8,731,309 American Water Works Co., Inc...... 65,749 10,133,893 Total Common Stocks IT Services—4.9% (Cost $373,101,987) ...... 502,592,988 Amdocs, Ltd...... 172,483 13,343,285 Euronet Worldwide, Inc. (a) ...... 85,349 11,551,987 24,895,272 Mutual Funds—0.8%

Machinery—4.4% Investment Company Securities—0.8% Donaldson Co., Inc. (b) ...... 80,433 5,109,909 SPDR S&P Oil & Gas Exploration & Production ETF (b) Gates Industrial Corp. plc (a) ...... 193,074 3,488,847 (Cost $1,997,296) ...... 41,406 4,003,546 Stanley Black & Decker, Inc...... 67,353 13,806,691 22,405,447 Warrants—0.1%

Metals & Mining—1.2% Special Purpose Acquisition Companies—0.1% Freeport-McMoRan, Inc...... 160,646 5,961,573 Pershing Square Tontine Holdings, Ltd., Expires 07/24/25 (a) (Cost $218,700) ...... 37,827 238,310 Oil, Gas & Consumable Fuels—3.1% Devon Energy Corp...... 133,519 3,897,420 Short-Term Investment—1.1% EOG Resources, Inc...... 51,140 4,267,122 Hess Corp...... 43,698 3,815,709 Repurchase Agreement—1.1% Valero Energy Corp...... 48,154 3,759,864 Fixed Income Clearing Corp. 15,740,115 Repurchase Agreement dated 06/30/21 at 0.000%, due on 07/01/21 with a maturity value of $5,507,978; collateralized by Real Estate Management & Development—3.0% U.S. Treasury Note at 0.375%, maturing 04/15/24, with a CBRE Group, Inc. - Class A (a) ...... 177,771 15,240,308 market value of $5,618,212...... 5,507,978 5,507,978 Total Short-Term Investments Road & Rail—0.0% (Cost $5,507,978) ...... 5,507,978 Kansas City Southern ...... 500 141,685

Semiconductors & Semiconductor Equipment—1.7% Securities Lending Reinvestments (c)—11.7% Analog Devices, Inc...... 50,415 8,679,446 Certificates of Deposit—0.7% Software—0.4% Agricultural Bank of China ironSource, Ltd. - Class A (a) (b) ...... 208,894 2,193,387 0.100%, 07/01/21 ...... 32,980 32,980 Cooperatieve Rabobank UA Special Purpose Acquisition Companies—1.6% 0.228%, 3M LIBOR + 0.040%, 01/11/22 (d) ...... 1,000,000 1,000,290 Liberty Media Acquisition Corp. (a) ...... 83,370 882,888 Rabobank International London Pershing Square Tontine Holdings, Ltd. - Class A (a) ...... 329,776 7,505,702 0.266%, 3M LIBOR + 0.080%, 07/30/21 (d) ...... 500,000 500,075 8,388,590 Royal Bank of Canada New York 0.240%, 3M LIBOR + 0.040%, 10/05/21 (d) ...... 1,000,000 1,000,177 Specialty Retail—1.6% Toronto-Dominion Bank 0.267%, 3M LIBOR + 0.070%, 10/08/21 (d) ...... 1,000,000 999,911 Best Buy Co., Inc. (b) ...... 72,567 8,343,754 3,533,433 Technology Hardware, Storage & Peripherals—1.8% NCR Corp. (a) ...... 207,587 9,468,043

See accompanying notes to financial statements. BHFTI-390 Brighthouse Funds Trust I Wells Capital Management Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (c)—(Continued)

Shares/ Principal Principal Security Description Amount* Value Security Description Amount* Value

Repurchase Agreements—8.1% Repurchase Agreements—(Continued) Barclays Bank plc NBC Global Finance, Ltd. Repurchase Agreement dated 06/30/21 at 0.200%, due on Repurchase Agreement dated 06/30/21 at 0.260%, due on 07/01/21 with a maturity value of $1,000,006; collateralized 07/07/21 with a maturity value of $1,700,086; collateralized by various Common Stock with an aggregate market value of by U.S. Treasury Obligations with rates ranging from 2.125% - $1,111,196...... 1,000,000 $ 1,000,000 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, Repurchase Agreement dated 06/30/21 at 0.360%, due on and various Common Stock with an aggregate market value of 08/04/21 with a maturity value of $3,001,050; collateralized $1,889,223...... 1,700,000 $ 1,700,000 by various Common Stock with an aggregate market value of 41,734,671 $3,334,004...... 3,000,000 3,000,000 Barclays Capital, Inc. Time Deposits—0.2% Repurchase Agreement dated 06/30/21 at 0.030%, due on Landesbank Baden-Wuettertemberg (London) 07/01/21 with a maturity value of $434,671; collateralized by 0.130%, 07/01/21 ...... 100,000 100,000 U.S. Treasury Obligations at 0.000%, maturity dates ranging National Bank of Canada from 05/15/29 - 11/15/43, and an aggregate market value of 0.130%, OBFR+0.050%, 07/07/21 (d) ...... 1,000,000 1,000,000 $443,364...... 434,671 434,671 Citigroup Global Markets, Inc. 1,100,000 Repurchase Agreement dated 06/30/21 at 0.060%, due on 07/01/21 with a maturity value of $10,000,017; collateralized Mutual Funds—2.7% by U.S. Treasury Obligations with rates ranging from 0.125% - Fidelity Government Portfolio, Institutional Class 6.125%, maturity dates ranging from 08/15/29 - 02/15/31, 0.010% (e) ...... 4,000,000 4,000,000 and an aggregate market value of $10,200,003...... 10,000,000 10,000,000 STIT-Government & Agency Portfolio, Institutional Class Repurchase Agreement dated 06/30/21 at 0.430%, due on 0.030% (e) ...... 10,000,000 10,000,000 08/04/21 with a maturity value of $1,000,418; collateralized 14,000,000 by U.S. Treasury Obligations at 2.000%, maturing 11/30/22, and various Common Stock with an aggregate market value of Total Securities Lending Reinvestments $1,098,227...... 1,000,000 1,000,000 (Cost $60,367,651) ...... 60,368,104 Repurchase Agreement dated 06/30/21 at 0.430%, due on Total Investments—111.7% 08/04/21 with a maturity value of $1,000,418; collateralized (Cost $441,193,612) ...... 572,710,926 by U.S. Treasury Obligations at 0.125%, maturing 05/31/23, Other assets and liabilities (net)—(11.7)% ...... (60,103,484) and various Common Stock with an aggregate market value of Net Assets—100.0% ...... $512,607,442 $1,099,528...... 1,000,000 1,000,000 ING Financial Markets LLC Repurchase Agreement dated 06/30/21 at 0.040%, due on * Principal amount stated in U.S. dollars unless otherwise noted. 07/01/21 with a maturity value of $11,000,012; collateralized (a) Non-income producing security. by U.S. Government Agency Obligations with rates ranging from (b) All or a portion of the security was held on loan. As of June 30, 2021, the market value 0.055% - 6.625%, maturity dates ranging from 10/12/21 - of securities loaned was $59,179,231 and the collateral received consisted of cash in 01/04/35, and an aggregate market value of $11,220,036. . . 11,000,000 11,000,000 the amount of $60,367,651. The cash collateral investments are disclosed in the Natwest Market Securities, Inc. Schedule of Investments and categorized as Securities Lending Reinvestments. Repurchase Agreement dated 06/30/21 at 0.050%, due on (c) Represents investment of cash collateral received from securities on loan as of June 30, 07/01/21 with a maturity value of $11,000,015; collateralized by 2021. U.S. Treasury Obligations with rates ranging from 1.250% - 8.125%, (d) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. maturity dates ranging from 08/15/21 - 05/15/51, and an Maturity date shown for callable securities reflects the earliest possible call date. For aggregatemarketvalueof$11,220,016...... 11,000,000 11,000,000 securities based on a published reference index and spread, the index and spread are NBC Global Finance, Ltd. indicated in the description above. For certain variable rate securities, the coupon rate is Repurchase Agreement dated 06/30/21 at 0.245%, due on determined by the issuer/agent based on current market conditions. For certain asset- 07/07/21 with a maturity value of $1,600,076; collateralized and mortgage-backed securities, the coupon rate may fluctuate based on changes of the by U.S. Treasury Obligations with rates ranging from 1.875% - underlying collateral or prepayments of principal. These securities do not indicate a 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, reference index and spread in their description above. and various Common Stock with an aggregate market value of (e) The rate shown represents the annualized seven-day yield as of June 30, 2021. $1,777,778...... 1,600,000 1,600,000

See accompanying notes to financial statements. BHFTI-391 Brighthouse Funds Trust I Wells Capital Management Mid Cap Value Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Glossary of Abbreviations

Index Abbreviations (LIBOR)— London Interbank Offered Rate (OBFR)— U.S. Overnight Bank Funding Rate

Other Abbreviations (ETF)— Exchange-Traded Fund

Fair Value Hierarchy Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total Common Stocks* ...... $502,592,988 $ — $— $502,592,988 Total Mutual Funds* ...... 4,003,546 — — 4,003,546 Total Warrants* ...... 238,310 — — 238,310 Total Short-Term Investment* ...... — 5,507,978 — 5,507,978 Securities Lending Reinvestments Certificates of Deposit ...... — 3,533,433 — 3,533,433 Repurchase Agreements ...... — 41,734,671 — 41,734,671 Time Deposits ...... — 1,100,000 — 1,100,000 Mutual Funds ...... 14,000,000 — — 14,000,000 Total Securities Lending Reinvestments ...... 14,000,000 46,368,104 — 60,368,104 Total Investments ...... $520,834,844 $ 51,876,082 $— $572,710,926 Collateral for Securities Loaned (Liability) ...... $ — $(60,367,651) $— $ (60,367,651)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-392 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—83.7% of Net Assets

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—23.9% Agency Sponsored Mortgage-Backed—(Continued) Fannie Mae 15 Yr. Pool Fannie Mae 30 Yr. Pool 3.000%, 05/01/27 ...... 23,765 $ 25,146 4.000%, 04/01/42 ...... 270,635 $ 297,095 3.000%, 06/01/32 ...... 85,322 90,165 4.000%, 09/01/42 ...... 1,314,531 1,438,476 3.000%, 10/01/32 ...... 8,870 9,367 4.000%, 10/01/42 ...... 274,580 298,775 3.000%, 02/01/33 ...... 3,076,432 3,247,515 4.000%, 11/01/42 ...... 119,810 127,865 3.000%, 03/01/33 ...... 434,918 458,709 4.000%, 04/01/43 ...... 123,455 131,684 3.000%, 04/01/33 ...... 351,681 370,894 4.000%, 06/01/43 ...... 122,593 130,750 3.000%, 05/01/33 ...... 183,446 193,607 4.000%, 08/01/43 ...... 293,898 322,702 3.000%, 06/01/33 ...... 57,385 60,511 4.000%, 09/01/43 ...... 1,037,981 1,138,295 3.000%, 07/01/33 ...... 297,339 313,291 4.000%, 10/01/43 ...... 193,025 212,139 3.000%, 08/01/33 ...... 1,507,353 1,587,904 4.000%, 02/01/44 ...... 68,755 75,592 3.000%, 10/01/33 ...... 272,986 287,543 4.000%, 04/01/44 ...... 108,177 118,926 3.000%, 11/01/33 ...... 224,086 236,006 4.000%, 02/01/45 ...... 113,280 123,955 3.000%, 12/01/33 ...... 117,685 123,939 4.000%, 06/01/45 ...... 46,806 51,441 3.000%, 01/01/34 ...... 120,196 126,534 4.000%, 12/01/45 ...... 532,594 578,167 3.000%, 02/01/34 ...... 188,908 198,814 4.000%, 03/01/46 ...... 58,286 62,647 3.000%, 03/01/34 ...... 461,967 486,317 4.000%, 05/01/46 ...... 46,836 50,102 3.000%, 05/01/34 ...... 237,365 250,016 4.000%, 09/01/47 ...... 15,418 16,611 4.500%, 12/01/23 ...... 1,071 1,121 4.000%, 11/01/47 ...... 30,430 32,428 5.000%, 03/01/23 ...... 1,238 1,288 4.000%, 03/01/48 ...... 275,404 294,522 Fannie Mae 20 Yr. Pool 4.000%, 05/01/48 ...... 679,344 733,990 3.500%, 07/01/32 ...... 1,658,663 1,767,411 4.500%, 12/01/40 ...... 983,017 1,092,553 3.500%, 01/01/34 ...... 1,029,463 1,107,551 4.500%, 08/01/41 ...... 91,707 102,305 4.000%, 11/01/31 ...... 689,821 751,590 4.500%, 11/01/41 ...... 638,006 712,864 4.000%, 08/01/32 ...... 571,047 622,041 4.500%, 12/01/43 ...... 149,180 166,372 Fannie Mae 30 Yr. Pool 4.500%, 10/01/44 ...... 896,934 990,515 2.000%, 01/01/51 ...... 193,042 195,281 4.500%, 02/01/45 ...... 329,182 364,612 2.000%, 02/01/51 ...... 495,967 501,415 4.500%, 03/01/46 ...... 140,992 155,391 2.000%, 03/01/51 ...... 99,188 100,425 4.500%, 04/01/48 ...... 162,816 176,138 2.000%, 04/01/51 ...... 197,633 199,714 4.500%, 05/01/48 ...... 54,108 58,728 2.500%, 11/01/50 ...... 96,894 101,342 4.500%, 12/01/48 ...... 1,721,415 1,887,578 2.500%, 02/01/51 ...... 98,391 102,279 4.500%, 04/01/49 ...... 43,588 46,953 2.500%, 06/01/51 ...... 999,588 1,044,429 4.500%, 09/01/49 ...... 286,076 311,919 3.000%, 09/01/42 ...... 1,252,310 1,331,958 4.500%, 10/01/49 ...... 97,935 105,169 3.000%, 10/01/42 ...... 1,044,744 1,106,681 5.000%, 04/01/41 ...... 7,830 8,576 3.000%, 11/01/42 ...... 2,119,731 2,254,142 5.000%, 06/01/41 ...... 29,609 33,446 3.000%, 08/01/46 ...... 194,870 206,583 5.000%, 08/01/41 ...... 32,339 35,709 3.000%, 09/01/46 ...... 592,515 627,293 5.000%, 08/01/48 ...... 101,044 110,831 3.000%, 10/01/46 ...... 238,829 252,542 5.000%, 12/01/49 ...... 50,601 55,309 3.000%, 11/01/46 ...... 296,872 312,542 5.500%, 12/01/39 ...... 357,829 414,865 3.000%, 11/01/48 ...... 517,716 544,959 5.500%, 04/01/40 ...... 384,523 442,552 3.000%, 07/01/49 ...... 162,689 171,727 5.500%, 06/01/40 ...... 35,331 40,296 3.000%, 09/01/49 ...... 1,192,907 1,255,839 5.500%, 05/01/41 ...... 131,183 150,578 3.000%, 11/01/49 ...... 204,524 213,560 5.500%, 06/01/41 ...... 243,013 278,634 3.000%, 12/01/49 ...... 81,757 85,372 5.500%, 07/01/41 ...... 237,029 270,209 3.000%, 03/01/50 ...... 673,092 722,368 5.500%, 12/01/41 ...... 478,728 548,988 3.000%, 11/01/50 ...... 354,825 374,544 5.500%, 02/01/42 ...... 1,070,403 1,234,017 3.500%, 11/01/42 ...... 1,949,233 2,106,429 5.500%, 05/01/44 ...... 264,150 303,501 3.500%, 11/01/46 ...... 336,553 363,599 6.000%, 01/01/34 ...... 51,699 61,336 3.500%, 07/01/47 ...... 1,488,120 1,599,776 6.000%, 08/01/34 ...... 79,867 94,614 3.500%, 12/01/47 ...... 3,960,881 4,259,603 6.000%, 10/01/34 ...... 85,271 100,999 3.500%, 02/01/50 ...... 260,420 274,077 6.000%, 11/01/34 ...... 61,438 72,870 3.500%, 04/01/50 ...... 289,507 305,812 6.000%, 01/01/35 ...... 73,432 86,148 4.000%, 10/01/39 ...... 62,576 68,151 6.000%, 04/01/35 ...... 123,453 142,431 4.000%, 11/01/40 ...... 1,729,707 1,901,885 6.000%, 06/01/36 ...... 210,827 250,131 4.000%, 01/01/42 ...... 151,585 165,094 6.000%, 05/01/37 ...... 290,987 345,304

See accompanying notes to financial statements. BHFTI-393 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—(Continued) Agency Sponsored Mortgage-Backed—(Continued) Fannie Mae 30 Yr. Pool Fannie Mae REMICS (CMO) 6.000%, 09/01/37 ...... 17,376 $ 20,542 5.000%, 03/25/35 ...... 137,736 $ 155,860 6.000%, 10/01/37 ...... 220,679 261,879 5.000%, 08/25/39 ...... 211,253 239,692 6.000%, 01/01/38 ...... 219,004 259,897 5.000%, 02/25/41 ...... 120,488 142,721 6.000%, 03/01/38 ...... 77,072 94,681 5.500%, 06/25/35 ...... 49,621 52,900 6.000%, 07/01/38 ...... 37,649 44,565 5.500%, 08/25/35 ...... 719,334 818,344 6.000%, 01/01/40 ...... 221,524 262,104 6.000%, 06/25/45 (b) ...... 380,153 67,825 6.000%, 05/01/40 ...... 312,565 369,844 6.459%, -1 x 1M LIBOR + 6.550%, 06/25/41 (a) (b) ...... 128,856 10,611 6.000%, 07/01/41 ...... 281,690 333,168 Freddie Mac 15 Yr. Gold Pool 6.000%, 01/01/42 ...... 23,688 27,080 3.000%, 06/01/31 ...... 415,731 442,462 6.500%, 07/01/32 ...... 55,373 64,890 3.000%, 02/01/32 ...... 9,968 10,541 6.500%, 12/01/32 ...... 16,779 19,608 3.000%, 03/01/33 ...... 1,453,390 1,532,606 6.500%, 07/01/35 ...... 19,222 22,113 3.000%, 09/01/33 ...... 148,668 156,540 6.500%, 12/01/35 ...... 172,744 207,267 3.000%, 03/01/34 ...... 119,258 125,665 6.500%, 08/01/36 ...... 282,308 336,245 6.000%, 01/01/24 ...... 43,344 45,021 Fannie Mae ARM Pool Freddie Mac 15 Yr. Pool 1.968%, 12M LIBOR + 1.700%, 06/01/42 (a) ...... 21,556 22,672 3.500%, 04/01/33 ...... 242,889 261,847 2.193%, 12M LIBOR + 1.818%, 02/01/42 (a) ...... 48,243 50,922 Freddie Mac 20 Yr. Gold Pool 2.321%, 12M LIBOR + 1.818%, 09/01/41 (a) ...... 12,555 13,248 3.000%, 11/01/33 ...... 1,222,130 1,297,089 2.330%, 12M LIBOR + 1.830%, 10/01/41 (a) ...... 6,820 7,030 3.500%, 03/01/32 ...... 613,211 654,077 2.617%, 12M LIBOR + 1.818%, 07/01/41 (a) ...... 19,100 20,171 3.500%, 06/01/32 ...... 1,643,019 1,751,977 2.695%, 12M LIBOR + 1.800%, 07/01/41 (a) ...... 18,402 19,403 3.500%, 07/01/32 ...... 538,743 572,815 Fannie Mae Grantor Trust 4.000%, 06/01/33 ...... 681,408 741,936 2.898%, 06/25/27 ...... 6,106,958 6,645,271 Freddie Mac 20 Yr. Pool Fannie Mae Pool 3.500%, 02/01/34 ...... 2,470,340 2,660,842 3.000%, 08/01/27 ...... 57,229 60,420 Freddie Mac 30 Yr. Gold Pool 3.000%, 10/01/27 ...... 99,143 104,672 3.000%, 11/01/42 ...... 117,921 126,744 3.000%, 11/01/27 ...... 29,976 31,617 3.000%, 01/01/43 ...... 133,574 142,783 3.000%, 12/01/27 ...... 50,478 53,292 3.000%, 02/01/43 ...... 678,895 726,362 3.000%, 01/01/28 ...... 47,576 50,230 3.000%, 03/01/43 ...... 6,960,695 7,409,458 3.000%, 02/01/28 ...... 45,660 48,206 3.000%, 06/01/43 ...... 1,673,019 1,772,723 3.000%, 03/01/28 ...... 48,579 51,290 3.500%, 04/01/40 ...... 121,596 130,425 3.000%, 04/01/28 ...... 44,123 46,587 3.500%, 05/01/40 ...... 195,588 210,690 3.000%, 05/01/28 ...... 51,500 54,376 3.500%, 06/01/40 ...... 241,776 259,369 3.000%, 06/01/28 ...... 49,837 52,621 3.500%, 07/01/40 ...... 46,840 50,435 3.000%, 07/01/28 ...... 47,243 49,882 3.500%, 08/01/40 ...... 122,620 132,112 3.000%, 08/01/28 ...... 55,030 58,105 3.500%, 09/01/40 ...... 76,924 82,853 3.000%, 09/01/28 ...... 55,716 58,828 3.500%, 10/01/40 ...... 89,337 96,210 3.000%, 01/01/29 ...... 51,124 53,985 3.500%, 11/01/40 ...... 91,920 99,289 3.000%, 03/01/29 ...... 59,402 62,728 3.500%, 12/01/40 ...... 86,864 93,575 3.500%, 09/01/32 ...... 1,615,934 1,734,365 3.500%, 04/01/42 ...... 403,098 440,079 3.500%, 10/01/56 ...... 1,613,426 1,759,532 3.500%, 07/01/42 ...... 71,464 77,259 4.500%, 08/01/58 ...... 181,701 203,387 3.500%, 08/01/42 ...... 37,009 39,650 6.500%, 08/01/39 ...... 947,024 1,094,156 3.500%, 09/01/42 ...... 175,008 186,530 6.602%, 02/01/39 ...... 91,871 101,960 3.500%, 10/01/42 ...... 997,275 1,081,101 Fannie Mae REMICS (CMO) 3.500%, 01/01/43 ...... 373,675 404,017 1.012%, 1M LIBOR + 0.920%, 03/25/36 (a) ...... 234,015 240,633 3.500%, 02/01/43 ...... 180,820 195,835 1.022%, 1M LIBOR + 0.930%, 06/25/36 (a) ...... 335,848 344,586 3.500%, 04/01/43 ...... 513,223 556,288 1.750%, 06/25/42 ...... 152,861 155,827 3.500%, 05/01/43 ...... 286,745 310,814 1.750%, 01/25/43 ...... 141,286 143,377 3.500%, 11/01/44 ...... 278,309 298,628 3.000%, 05/25/46 ...... 2,675,509 2,840,884 3.500%, 02/01/45 ...... 6,049 6,492 4.250%, 03/25/42 ...... 1,036,058 1,107,982 3.500%, 06/01/45 ...... 11,406 12,345 4.500%, 12/25/40 ...... 83,890 93,769 3.500%, 11/01/45 ...... 2,569,943 2,777,295 4.750%, 01/25/41 ...... 284,352 315,322 3.500%, 01/01/46 ...... 253,722 273,267 5.000%, 12/25/23 ...... 46,733 48,473 3.500%, 02/01/46 ...... 492,374 522,791 5.000%, 12/25/34 ...... 167,252 189,133 3.500%, 05/01/46 ...... 858,510 932,235

See accompanying notes to financial statements. BHFTI-394 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—(Continued) Agency Sponsored Mortgage-Backed—(Continued) Freddie Mac 30 Yr. Gold Pool Freddie Mac 30 Yr. Gold Pool 3.500%, 06/01/46 ...... 171,442 $ 181,126 5.500%, 07/01/35 ...... 535,783 $ 618,265 3.500%, 07/01/46 ...... 12,220 13,224 Freddie Mac 30 Yr. Pool 3.500%, 08/01/46 ...... 71,029 74,815 2.000%, 03/01/51 ...... 99,128 100,279 3.500%, 09/01/46 ...... 541,651 585,079 2.500%, 11/01/50 ...... 90,109 93,550 3.500%, 01/01/47 ...... 1,208,323 1,281,883 2.500%, 02/01/51 ...... 194,458 201,996 3.500%, 02/01/47 ...... 1,846,461 1,949,645 3.000%, 09/01/48 ...... 582,697 620,400 3.500%, 07/01/47 ...... 412,086 437,508 3.000%, 07/01/49 ...... 257,766 271,778 3.500%, 11/01/47 ...... 101,391 107,646 3.000%, 09/01/49 ...... 2,480,134 2,639,008 3.500%, 12/01/47 ...... 370,495 392,302 3.000%, 10/01/49 ...... 508,775 537,357 3.500%, 02/01/48 ...... 116,072 122,722 3.000%, 03/01/50 ...... 410,392 428,850 3.500%, 04/01/48 ...... 378,866 400,612 3.500%, 07/01/46 ...... 1,190,368 1,283,053 4.000%, 11/01/41 ...... 4,121 4,491 4.500%, 07/01/40 ...... 989,428 1,092,106 4.000%, 09/01/42 ...... 2,023,175 2,215,242 4.500%, 05/01/50 ...... 198,427 213,492 4.000%, 10/01/42 ...... 30,612 33,036 Freddie Mac ARM Non-Gold Pool 4.000%, 11/01/42 ...... 293,654 323,061 2.130%, 12M LIBOR + 1.880%, 04/01/41 (a) ...... 4,717 4,851 4.000%, 12/01/42 ...... 107,310 118,049 2.160%, 12M LIBOR + 1.910%, 05/01/41 (a) ...... 21,323 22,568 4.000%, 01/01/43 ...... 11,098 11,826 2.179%, 12M LIBOR + 1.750%, 12/01/40 (a) ...... 411,066 433,085 4.000%, 02/01/43 ...... 119,941 130,708 2.195%, 12M LIBOR + 1.910%, 05/01/41 (a) ...... 28,049 29,696 4.000%, 03/01/43 ...... 54,544 59,167 2.328%, 12M LIBOR + 1.750%, 09/01/41 (a) ...... 138,088 145,346 4.000%, 04/01/43 ...... 21,583 23,666 2.380%, 12M LIBOR + 1.880%, 10/01/41 (a) ...... 122,610 129,649 4.000%, 05/01/43 ...... 226,930 246,731 2.426%, 12M LIBOR + 1.910%, 06/01/41 (a) ...... 29,046 30,790 4.000%, 06/01/43 ...... 27,915 30,431 2.481%, 12M LIBOR + 1.880%, 09/01/41 (a) ...... 15,253 16,133 4.000%, 07/01/43 ...... 223,652 246,037 2.509%, 12M LIBOR + 1.897%, 10/01/42 (a) ...... 57,395 60,753 4.000%, 08/01/43 ...... 189,438 206,905 2.910%, 12M LIBOR + 1.910%, 06/01/41 (a) ...... 7,682 7,900 4.000%, 09/01/43 ...... 321,243 352,383 Freddie Mac Multifamily Structured Pass-Through Certificates 4.000%, 10/01/43 ...... 349,071 383,517 2.750%, 11/25/22 ...... 3,548,640 3,592,874 4.000%, 11/01/43 ...... 12,263 13,095 3.750%, 11/25/29 ...... 179,275 202,834 4.000%, 01/01/44 ...... 289,358 318,276 3.750%, 11/25/32 ...... 1,000,000 1,173,943 4.000%, 02/01/44 ...... 24,921 26,709 3.990%, 05/25/33 (a) ...... 3,650,000 4,374,430 4.000%, 04/01/44 ...... 12,682 13,555 Freddie Mac Pool 4.000%, 07/01/44 ...... 433,789 476,679 1.500%, 03/01/51 ...... 98,542 95,418 4.000%, 12/01/44 ...... 7,555 8,049 Freddie Mac REMICS (CMO) 4.000%, 01/01/45 ...... 260,865 283,895 0.473%, 1M LIBOR + 0.400%, 03/15/34 (a) ...... 209,891 211,582 4.000%, 02/01/45 ...... 317,016 348,528 0.973%, 1M LIBOR + 0.900%, 02/15/33 (a) ...... 118,100 120,818 4.000%, 05/01/45 ...... 506,879 553,508 1.750%, 06/15/42 ...... 114,808 117,243 4.000%, 12/01/45 ...... 301,295 327,949 3.500%, 11/15/31 ...... 1,085,154 1,167,159 4.000%, 11/01/47 ...... 360,998 385,983 4.000%, 01/15/41 ...... 6,847,166 7,410,241 4.000%, 12/01/47 ...... 800,725 855,447 4.500%, 12/15/26 ...... 995,942 1,009,959 4.000%, 01/01/48 ...... 186,967 199,620 4.500%, 02/15/41 ...... 14,470 15,370 4.000%, 05/01/48 ...... 387,251 418,520 5.000%, 10/15/34 ...... 211,383 239,256 4.500%, 05/01/39 ...... 62,423 69,672 5.000%, 12/15/37 ...... 72,005 81,194 4.500%, 09/01/40 ...... 490,506 546,469 5.000%, 03/15/41 ...... 408,835 457,078 4.500%, 02/01/41 ...... 48,802 54,470 5.000%, 04/15/41 ...... 868,214 1,024,296 4.500%, 08/01/41 ...... 475,274 530,349 5.000%, 05/15/41 ...... 974,131 1,172,343 4.500%, 09/01/41 ...... 65,697 73,326 5.500%, 05/15/34 ...... 1,199,836 1,377,894 4.500%, 10/01/41 ...... 122,992 137,433 5.500%, 11/15/36 ...... 448,192 498,000 4.500%, 02/01/44 ...... 16,979 18,656 5.500%, 06/15/41 ...... 2,698,373 3,103,983 4.500%, 10/01/48 ...... 73,773 79,401 Ginnie Mae I 30 Yr. Pool 5.000%, 01/01/35 ...... 111,104 124,815 3.000%, 05/15/42 ...... 258,618 272,015 5.000%, 05/01/35 ...... 53,359 60,082 3.000%, 04/15/43 ...... 104,469 109,918 5.000%, 07/01/35 ...... 692,847 793,709 3.000%, 05/15/43 ...... 121,340 127,441 5.000%, 11/01/35 ...... 820,670 940,392 3.000%, 01/15/45 ...... 38,503 40,601 5.000%, 06/01/41 ...... 1,175,472 1,345,506 3.000%, 02/15/45 ...... 61,309 64,272 5.000%, 07/01/41 ...... 176,788 199,503 3.000%, 03/15/45 ...... 311,030 325,990 5.500%, 03/01/34 ...... 792,172 915,472 3.000%, 05/15/45 ...... 18,858 19,752

See accompanying notes to financial statements. BHFTI-395 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—(Continued) Agency Sponsored Mortgage-Backed—(Continued) Ginnie Mae I 30 Yr. Pool Ginnie Mae II 30 Yr. Pool 3.000%, 06/15/45 ...... 33,243 $ 34,797 4.000%, 11/20/44 ...... 872,073 $ 951,510 3.000%, 07/15/45 ...... 175,124 183,334 4.000%, 12/20/44 ...... 49,437 53,908 3.500%, 11/15/41 ...... 166,650 180,622 4.000%, 03/20/50 ...... 73,924 80,591 3.500%, 02/15/42 ...... 156,909 170,066 4.000%, 04/20/50 ...... 636,669 688,206 3.500%, 03/15/42 ...... 175,731 189,466 4.500%, 02/20/40 ...... 79,536 87,960 3.500%, 05/15/42 ...... 442,822 477,323 4.500%, 09/20/40 ...... 8,491 9,392 3.500%, 06/15/42 ...... 262,880 281,610 4.500%, 08/20/48 ...... 1,007,915 1,084,487 3.500%, 05/15/50 ...... 357,535 380,796 4.500%, 09/20/48 ...... 693,980 745,673 4.000%, 09/15/40 ...... 990,718 1,096,004 4.500%, 10/20/48 ...... 1,005,441 1,071,833 4.000%, 10/15/40 ...... 60,914 67,478 4.500%, 01/20/49 ...... 157,628 168,715 4.000%, 03/15/41 ...... 417,065 455,611 4.500%, 03/20/50 ...... 230,291 245,056 4.000%, 06/15/41 ...... 19,507 21,325 5.000%, 10/20/48 ...... 42,571 45,982 4.000%, 09/15/41 ...... 118,030 131,021 Ginnie Mae II Pool 4.000%, 10/15/41 ...... 447,839 497,305 5.470%, 08/20/59 (a) ...... 344 350 4.000%, 11/15/41 ...... 133,604 148,263 Government National Mortgage Association (CMO) 4.000%, 12/15/41 ...... 382,890 425,287 0.343%, 1M LIBOR + 0.250%, 10/20/47 (a) ...... 801,791 802,509 4.000%, 01/15/42 ...... 18,956 20,723 0.393%, 1M LIBOR + 0.300%, 05/20/48 (a) ...... 797,880 799,448 4.000%, 02/15/42 ...... 18,321 20,221 0.393%, 1M LIBOR + 0.300%, 06/20/48 (a) ...... 1,007,467 1,009,436 4.000%, 03/15/42 ...... 108,276 119,734 0.400%, 1Y H15 + 0.350%, 08/20/66 (a) ...... 3,391,553 3,360,063 4.000%, 11/15/42 ...... 12,818 13,796 0.407%, 1M LIBOR + 0.300%, 08/20/60 (a) ...... 117,397 117,458 4.000%, 01/15/43 ...... 42,602 47,283 0.407%, 1M LIBOR + 0.300%, 09/20/60 (a) ...... 149,949 150,032 4.000%, 03/15/50 ...... 58,346 62,604 0.420%, 1M LIBOR + 0.330%, 07/20/60 (a) ...... 166,136 166,360 4.500%, 08/15/39 ...... 923,788 1,050,010 0.550%, 1Y H15 + 0.500%, 05/20/66 (a) ...... 3,485,624 3,463,731 4.500%, 06/15/40 ...... 270,053 303,728 0.573%, 1M LIBOR + 0.480%, 01/20/38 (a) ...... 23,541 23,723 4.500%, 07/15/40 ...... 57,524 64,854 0.593%, 1M LIBOR + 0.500%, 07/20/37 (a) ...... 90,953 91,549 4.500%, 03/15/41 ...... 336,117 378,965 0.597%, 1M LIBOR + 0.490%, 02/20/61 (a) ...... 116,997 117,402 4.500%, 04/15/41 ...... 26,372 29,767 0.605%, 1M LIBOR + 0.530%, 12/16/39 (a) ...... 86,385 87,268 5.000%, 03/15/39 ...... 37,107 42,931 0.607%, 1M LIBOR + 0.500%, 12/20/60 (a) ...... 271,789 273,052 5.000%, 07/15/39 ...... 65,131 75,378 0.607%, 1M LIBOR + 0.500%, 02/20/61 (a) ...... 31,199 31,308 5.000%, 08/15/39 ...... 67,851 78,501 0.607%, 1M LIBOR + 0.500%, 04/20/61 (a) ...... 95,550 96,000 5.000%, 09/15/39 ...... 43,115 49,756 0.607%, 1M LIBOR + 0.500%, 05/20/61 (a) ...... 226,567 227,650 5.000%, 04/15/40 ...... 24,166 27,787 0.637%, 1M LIBOR + 0.530%, 06/20/61 (a) ...... 129,347 130,008 5.000%, 08/15/40 ...... 100,610 116,485 0.675%, 1M LIBOR + 0.600%, 11/16/39 (a) ...... 124,844 126,333 5.000%, 04/15/41 ...... 78,065 89,808 0.707%, 1M LIBOR + 0.600%, 10/20/61 (a) ...... 439,930 442,919 5.000%, 09/15/41 ...... 46,863 54,220 0.737%, 1M LIBOR + 0.630%, 01/20/62 (a) ...... 486,156 489,635 5.500%, 10/15/39 ...... 10,637 12,496 0.737%, 1M LIBOR + 0.630%, 03/20/62 (a) ...... 311,384 313,417 6.000%, 06/15/36 ...... 505,384 600,741 0.757%, 1M LIBOR + 0.650%, 05/20/61 (a) ...... 7,480 7,554 Ginnie Mae II 30 Yr. Pool 0.807%, 1M LIBOR + 0.700%, 11/20/61 (a) ...... 454,679 458,728 2.500%, 12/20/50 ...... 294,843 308,218 0.807%, 1M LIBOR + 0.700%, 01/20/62 (a) ...... 323,009 325,649 3.000%, 12/20/42 ...... 735,164 781,853 1.650%, 01/20/63 ...... 14,263 14,357 3.000%, 03/20/43 ...... 644,953 689,970 1.750%, 03/20/63 ...... 112,459 112,681 3.000%, 01/20/48 ...... 1,129,772 1,187,684 2.500%, 11/20/46 ...... 168,229 174,970 3.500%, 12/20/42 ...... 234,967 251,530 2.750%, 02/20/64 ...... 1,759,162 1,808,543 3.500%, 05/20/46 ...... 1,168,776 1,253,377 2.750%, 05/20/64 ...... 889,461 901,471 3.500%, 06/20/46 ...... 3,155,599 3,378,784 3.000%, 03/20/63 ...... 64,174 65,060 3.500%, 11/20/47 ...... 237,730 252,309 3.250%, 08/20/68 ...... 3,388,796 3,580,843 3.500%, 10/20/48 ...... 838,764 884,959 3.500%, 09/20/63 ...... 102,998 104,203 4.000%, 09/20/39 ...... 83,285 91,121 4.000%, 12/20/40 ...... 1,944,949 2,163,557 4.000%, 10/20/40 ...... 10,478 11,464 4.500%, 05/16/40 ...... 65,659 68,032 4.000%, 11/20/40 ...... 724,797 792,965 4.500%, 05/20/40 (b) ...... 5,343 333 4.000%, 10/20/41 ...... 932,691 1,022,424 4.500%, 12/20/40 ...... 1,395,340 1,585,768 4.000%, 11/20/41 ...... 352,093 385,968 5.000%, 12/20/39 ...... 4,330,857 4,925,580 4.000%, 04/20/42 ...... 461,426 505,823 5.000%, 03/20/40 ...... 2,095,797 2,317,955 4.000%, 06/20/42 ...... 34,225 37,727 5.010%, 09/20/60 (a) ...... 10,680 11,537 4.000%, 10/20/44 ...... 868,110 947,106 5.500%, 04/20/34 ...... 191,493 227,587

See accompanying notes to financial statements. BHFTI-396 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) U.S. Treasury & Government Agencies—(Continued)

Principal Principal Security Description Amount* Value Security Description Amount* Value

Agency Sponsored Mortgage-Backed—(Continued) U.S. Treasury—(Continued) Government National Mortgage Association (CMO) U.S. Treasury Bonds 6.007%, -1 x 1M LIBOR + 6.100%, 07/20/41 (a) (b) ...... 102,240 $ 19,509 2.750%, 08/15/47 ...... 7,500,000 $ 8,531,250 8.542%, -1.33 x 1M LIBOR + 8.667%, 04/20/39 (a) ...... 49,154 50,812 3.000%, 05/15/45 ...... 5,470,000 6,450,754 Uniform Mortgage-Backed Securities 15 Yr. Pool 3.000%, 02/15/48 ...... 58,600,000 69,853,031 2.000%, TBA (c) ...... 500,000 515,713 3.625%, 02/15/44 ...... 37,000,000 47,823,945 219,271,627 U.S. Treasury Inflation Indexed Bond 2.125%, 02/15/40 (e) ...... 3,705,690 5,521,768 Federal Agencies — 36.8% U.S. Treasury Notes Fannie Mae Principal Strip 0.250%, 06/15/24 ...... 5,000,000 4,969,531 Zero Coupon, 05/15/30 ...... 40,000,000 34,567,105 0.375%, 03/31/22 ...... 4,000,000 4,008,750 Federal Farm Credit Banks Funding Corp. 1.375%, 06/30/23 ...... 20,000,000 20,449,219 0.200%, 01/04/24 ...... 10,000,000 9,956,839 1.500%, 03/31/23 ...... 26,000,000 26,579,922 1.300%, 05/13/30 ...... 20,000,000 19,704,976 2.625%, 02/15/29 ...... 5,700,000 6,250,406 Federal Home Loan Bank 210,841,264 2.125%, 09/14/29 ...... 16,000,000 16,896,636 Total U.S. Treasury & Government Agencies 3.250%, 11/16/28 (d) ...... 10,000,000 11,357,601 (Cost $755,418,193) ...... 768,505,716 Federal Home Loan Mortgage Corp. Zero Coupon, 12/14/29 ...... 10,000,000 8,781,778 Zero Coupon, 09/15/36 ...... 10,000,000 7,129,159 Foreign Government — 12.7% Zero Coupon, 12/15/36 ...... 45,000,000 31,992,288 0.375%, 05/05/23 ...... 8,000,000 8,021,103 Sovereign—12.7% 6.250%, 07/15/32 (d) ...... 7,568,000 11,117,386 Abu Dhabi Government International Bonds 6.750%, 03/15/31 ...... 481,000 706,872 3.125%, 10/11/27 (144A) ...... 2,860,000 3,140,623 Federal National Mortgage Association 3.125%, 09/30/49 (144A) ...... 10,000,000 10,189,000 Zero Coupon, 11/15/30 ...... 10,000,000 8,565,974 Colombia Government International Bond 0.250%, 05/22/23 ...... 12,000,000 12,000,074 3.125%, 04/15/31 (d) ...... 5,090,000 4,980,769 0.500%, 06/17/25 ...... 8,000,000 7,949,908 Hashemite Kingdom of Jordan Government AID Bond 0.500%, 11/07/25 (d) ...... 13,000,000 12,845,657 3.000%, 06/30/25 ...... 10,389,000 11,167,562 0.625%, 04/22/25 ...... 5,000,000 4,993,829 Indonesia Government International Bond 6.625%, 11/15/30 ...... 1,430,000 2,068,935 4.750%, 02/11/29 ...... 4,410,000 5,178,256 Freddie Mac Strips Israel Government AID Bonds Zero Coupon, 07/15/32 ...... 17,100,000 13,885,736 5.500%, 09/18/23 ...... 13,878,000 15,444,410 Resolution Funding Corp. Interest Strip 5.500%, 12/04/23 ...... 30,210,000 33,716,173 Zero Coupon, 01/15/29 ...... 7,300,000 6,558,053 5.500%, 04/26/24 ...... 1,900,000 2,163,911 Zero Coupon, 07/15/29 ...... 7,500,000 6,655,528 5.500%, 09/18/33 ...... 2,195,000 3,096,119 Resolution Funding Corp. Principal Strip Mexico Government International Bond Zero Coupon, 01/15/30 ...... 23,523,000 20,487,588 4.500%, 04/22/29 ...... 4,650,000 5,254,221 Zero Coupon, 04/15/30 ...... 35,000,000 30,273,076 Panama Government International Bonds Tennessee Valley Authority 3.750%, 03/16/25 ...... 2,780,000 3,018,774 0.750%, 05/15/25 ...... 5,000,000 5,029,880 4.500%, 04/01/56 ...... 750,000 847,680 2.875%, 09/15/24 ...... 7,050,000 7,573,419 Peruvian Government International Bond Tennessee Valley Authority Generic Strip 4.125%, 08/25/27 ...... 2,620,000 2,929,632 Zero Coupon, 07/15/29 ...... 8,669,000 7,698,036 Poland Government International Bond Zero Coupon, 01/15/34 ...... 12,669,000 9,899,046 3.250%, 04/06/26 ...... 2,820,000 3,109,050 United States Department of Housing and Urban Development Qatar Government International Bond 2.738%, 08/01/25 ...... 5,000,000 5,384,863 4.000%, 03/14/29 (144A) ...... 2,740,000 3,153,082 United States International Development Finance Corp. Ukraine Government AID Bond 1.110%, 05/15/29 ...... 6,000,000 6,025,680 1.471%, 09/29/21 ...... 9,388,000 9,409,353 1.920%, 12/15/32 ...... 10,000,000 10,265,800 Total Foreign Government 338,392,825 (Cost $117,746,357) ...... 116,798,615

U.S. Treasury—23.0% U.S. Treasury Bonds 1.875%, 02/15/51 (d) ...... 10,900,000 10,402,688

See accompanying notes to financial statements. BHFTI-397 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Corporate Bonds & Notes—1.2%

Principal Principal Security Description Amount* Value Security Description Amount* Value

Diversified Financial Services—1.2% Repurchase Agreements—1.2% Private Export Funding Corp. Barclays Bank plc 0.300%, 04/28/23 (144A) ...... 5,000,000 $ 4,994,021 Repurchase Agreement dated 06/30/21 at 0.200%, due on 4.300%, 12/15/21 ...... 6,000,000 6,116,194 07/01/21 with a maturity value of $800,004; collateralized by Total Corporate Bonds & Notes various Common Stock with an aggregate market value of (Cost $12,159,888) ...... 11,110,215 $888,957...... 800,000 $ 800,000 Barclays Capital, Inc. Repurchase Agreement dated 06/30/21 at 0.030%, due on Asset-Backed Securities—1.2% 07/01/21 with a maturity value of $3,727,850; collateralized by U.S. Treasury Obligations at 0.000%, maturity dates ranging from Asset-Backed - Other—0.1% 05/15/29 - 11/15/43, and an aggregate market value of Kubota Credit Owner Trust $3,802,403...... 3,727,846 3,727,846 3.100%, 08/15/22 (144A) ...... 830,903 834,367 Cantor Fitzgerald & Co. Repurchase Agreement dated 06/30/21 at 0.050%, due on Asset-Backed - Student Loan—1.1% 07/01/21 with a maturity value of $2,000,003; collateralized by Navient Student Loan Trust U.S. Government Agency Obligations with rates ranging from 0.692%, 1M LIBOR + 0.600%, 07/26/66 (144A) (a) ...... 2,169,591 2,176,339 0.920% - 7.500%, maturity dates ranging from 11/01/23 - SLM Student Loan Trust 06/20/71, and an aggregate market value of $2,040,000. .... 2,000,000 2,000,000 0.646%, 3M LIBOR + 0.470%, 01/26/26 (a) ...... 7,869,867 7,849,235 Deutsche Bank AG, London 10,025,574 Repurchase Agreement dated 06/30/21 at 0.170%, due on 07/01/21 with a maturity value of $100,000; collateralized by Total Asset-Backed Securities U.S. Treasury and Foreign Obligations with rates ranging from (Cost $10,891,159) ...... 10,859,941 0.000% - 3.375%, maturity dates ranging from 02/01/22 - 03/11/31, and an aggregate market value of $102,000...... 100,000 100,000 Mortgage-Backed Securities—0.2% HSBC Bank plc Repurchase Agreement dated 06/30/21 at 0.100%, due on Collateralized Mortgage Obligations—0.2% 07/01/21 with a maturity value of $900,003; collateralized by Seasoned Loans Structured Transaction U.S. Treasury Obligations with rates ranging from 0.099% - 3.500%, 06/25/28 ...... 1,560,682 1,640,401 6.125%, maturity dates ranging from 08/31/21 - 02/15/50, and an aggregate market value of $918,370...... 900,000 900,000 Total Mortgage-Backed Securities NBC Global Finance, Ltd. (Cost $1,551,765) ...... 1,640,401 Repurchase Agreement dated 06/30/21 at 0.245%, due on 07/07/21 with a maturity value of $900,043; collateralized by Short-Term Investment—0.8% U.S. Treasury Obligations with rates ranging from 1.875% - 3.000%, maturity dates ranging from 07/31/22 - 02/15/49, Repurchase Agreement—0.8% and various Common Stock with an aggregate market value of Fixed Income Clearing Corp. $1,000,000...... 900,000 900,000 Repurchase Agreement dated 06/30/21 at 0.000%, due on Repurchase Agreement dated 06/30/21 at 0.260%, due on 07/01/21 with a maturity value of $7,491,208; collateralized by 07/07/21 with a maturity value of $500,025; collateralized by U.S. Treasury Note at 0.375%, maturing 04/15/24, with a U.S. Treasury Obligations with rates ranging from 2.125% - market value of $7,641,100...... 7,491,208 7,491,208 3.875%, maturity dates ranging from 12/31/23 - 04/15/29, and various Common Stock with an aggregate market value of Total Short-Term Investments $555,654...... 500,000 500,000 (Cost $7,491,208) ...... 7,491,208 Societe Generale Repurchase Agreement dated 06/30/21 at 0.180%, due on Securities Lending Reinvestments (f)—2.1% 07/01/21 with a maturity value of $1,500,008; collateralized by various Common Stock with an aggregate market value of Certificate of Deposit—0.0% $1,666,701...... 1,500,000 1,500,000 Agricultural Bank of China 10,427,846 0.100%, 07/01/21 ...... 47,950 47,950 Time Deposit—0.0% Landesbank Baden-Wuettertemberg (London) 0.130%, 07/01/21 ...... 100,000 100,000

See accompanying notes to financial statements. BHFTI-398 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Securities Lending Reinvestments (f)—(Continued)

Security Description Shares Value (b) Interest only security. (c) TBA (To Be Announced) Securities are purchased on a forward commitment basis with Mutual Funds—0.9% an approximate principal amount and no defined maturity date. The actual principal Goldman Sachs Financial Square Government Fund, Institutional and maturity date will be determined upon settlement date. Shares 0.020% (g) ...... 3,000,000 $ 3,000,000 (d) All or a portion of the security was held on loan. As of June 30, 2021, the market value STIT-Government & Agency Portfolio, Institutional Class of securities loaned was $18,280,341 and the collateral received consisted of cash in 0.030% (g) ...... 2,000,000 2,000,000 the amount of $18,575,796 and non-cash collateral with a value of $276,303. The cash Wells Fargo Government Money Market Fund, Select Class collateral investments are disclosed in the Schedule of Investments and categorized as 0.030% (g) ...... 3,000,000 3,000,000 Securities Lending Reinvestments. The non-cash collateral received consists of U.S. 8,000,000 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. As such, this collateral Total Securities Lending Reinvestments is excluded from the Statement of Assets and Liabilities. (Cost $18,575,796) ...... 18,575,796 (e) Principal amount of security is adjusted for inflation. Total Investments—101.9% (f) Represents investment of cash collateral received from securities on loan as of June 30, (Cost $923,834,366) ...... 934,981,892 2021. Other assets and liabilities (net)—(1.9)% ...... (17,085,787) (g) The rate shown represents the annualized seven-day yield as of June 30, 2021. (144A)— Securities exempt from registration under Rule 144A of the Securities Act of 1933. Net Assets—100.0% ...... $917,896,105 These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2021, the market value of 144A securities * Principal amount stated in U.S. dollars unless otherwise noted. was $24,487,432, which is 2.7% of net assets. (a) Variable or floating rate security. The stated rate represents the rate at June 30, 2021. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Value/ Unrealized Expiration Number of Notional Appreciation/ Futures Contracts—Long Date Contracts Value (Depreciation) 90 Day Euro Dollar Futures ...... 12/18/23 350 USD 86,515,625 $ (35,735)

Futures Contracts—Short U.S. Treasury Note 10 Year Futures ...... 09/21/21 (671) USD (88,907,500) (606,828) Net Unrealized Depreciation ...... $(642,563)

Glossary of Abbreviations

Currencies (USD)— United States Dollar

Index Abbreviations (H15)— U.S. Treasury Yield Curve Rate T-Note Constant (LIBOR)— London Interbank Offered Rate Maturity Index

Other Abbreviations (ARM)— Adjustable-Rate Mortgage (REMIC)— Real Estate Mortgage Investment Conduit (CMO)— Collateralized Mortgage Obligation

See accompanying notes to financial statements. BHFTI-399 Brighthouse Funds Trust I Western Asset Management Government Income Portfolio Schedule of Investments as of June 30, 2021 (Unaudited) Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows: Level 1 - unadjusted quoted prices in active markets for identical investments Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs) Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of June 30, 2021:

Description Level 1 Level 2 Level 3 Total Total U.S. Treasury & Government Agencies* ...... $ — $768,505,716 $— $768,505,716 Total Foreign Government* ...... — 116,798,615 — 116,798,615 Total Corporate Bonds & Notes* ...... — 11,110,215 — 11,110,215 Total Asset-Backed Securities* ...... — 10,859,941 — 10,859,941 Total Mortgage-Backed Securities* ...... — 1,640,401 — 1,640,401 Total Short-Term Investment* ...... — 7,491,208 — 7,491,208 Securities Lending Reinvestments Certificate of Deposit ...... — 47,950 — 47,950 Repurchase Agreements ...... — 10,427,846 — 10,427,846 Time Deposit ...... — 100,000 — 100,000 Mutual Funds ...... 8,000,000 — — 8,000,000 Total Securities Lending Reinvestments ...... 8,000,000 10,575,796 — 18,575,796 Total Investments ...... $8,000,000 $926,981,892 $— $934,981,892 Collateral for Securities Loaned (Liability) ...... $ — $(18,575,796) $— $ (18,575,796) Futures Contracts Futures Contracts (Unrealized Depreciation) ...... $(642,563) $ — $— $ (642,563)

* See Schedule of Investments for additional detailed categorizations.

See accompanying notes to financial statements. BHFTI-400